Feb 262026
 
 February 26, 2026  Posted by at 10:39 am Finance Tagged with: , , , , , , , ,  58 Responses »


Piet Mondriaan Composition No. 10 1939-42


Cuban Regime Kills Four in Shootout With Florida Vessel (Sarah Anderson)
CNN’s Instant Poll of the State of the Union Will Trigger the Left (Margolis)
A Masterclass in Giving a Speech Without Giving a Speech (Stephen Green)
Which Party Represents Americans? (Paul Craig Roberts)
Sen. Chris Murphy Joins Pledge to Throw Trump Figures in Jail (Turley)
Trump Admin to Launch New Free Speech Site to Combat Censorship Abroad (ET)
A Continental Revolution Is Brewing In Europe (Zemánek)
RFK Jr. Defends Trump’s Glyphosate Order (ET)
EU To Start Permanent Ban on Russian Oil 3 Days After Hungarian Election (CTH)
Solidarity Simulacra: Zelensky’s Four-Year Reality Check (RT)
Moscow Will Respond If NATO Gives Nukes To Nazi Regime In Kiev – Medvedev (RT)
Zelensky Demands €90 Billion EU Loan (RT)
Bill Gates Begins Apology Tour Over His Epstein Ties (ZH)
Fani Willis Plotted Trump Case Closely With Biden DOJ, J6 Democrats (JTN)
Comey’s Leaker Claims The Epstein Files Shouldn’t Have Been Released (Pinsker)

 


 

https://twitter.com/tesla_archive/status/2026300209794630110?s=20 https://twitter.com/_MAGA_NEWS_/status/2026280929224986641?s=20

 


 

 


 


Are the Cubans especially jittery for some reason?

Cuban Regime Kills Four in Shootout With Florida Vessel (Sarah Anderson)

The Cuban regime may have just sealed its fate. Cuba’s Interior Ministry announced on Wednesday that four men on a Florida-registered vessel, possibly a speedboat, were shot and killed by its Border Guard after entering Cuban waters near Santa Clara Province. Six other people aboard the boat were wounded. The regime claims that the people on board the vessel shot at the Border Guards first. It’s not yet clear if the people on board were United States citizens, though many are assuming so since the boat was registered in the U.S. The Interior Ministry’s full statement reads:


“On the morning of February 25, 2026, a violating speedboat was detected within Cuban territorial waters. The vessel, registered in Florida, United States, with registration number FL7726SH, approached up to 1 nautical mile northeast of the El Pino channel, in Cayo Falcones, Corralillo municipality, Villa Clara province.” When a surface unit of the Border Guard Troops of the Ministry of the Interior, carrying five service members, approached the vessel for identification, the crew of the violating speedboat opened fire on the Cuban personnel, resulting in the injury of the commander of the Cuban vessel.


As a consequence of the confrontation, as of the time of this report, four aggressors on the foreign vessel were killed and six were injured. The injured individuals were evacuated and received medical assistance. In the face of current challenges, Cuba reaffirms its determination to protect its territorial waters, based on the principle that national defense is a fundamental pillar of the Cuban State in safeguarding its sovereignty and ensuring stability in the region.


Investigations by the competent authorities continue in order to fully clarify the events. There’s been no word from President Donald Trump or Secretary of State Marco Rubio yet — Rubio is currently in Saint Kitts and Nevis for a CARICOM meeting, where the situation in Cuba has been a hot topic. Rep. Carlos A. Gimenez (R-Fla.) has issued a statement, calling for an immediate investigation into the “massacre.” Gimenez, who was born in Cuba, also suggested that “his regime must be relegated to the dust bin of history!”

Read more …

“Let that line marinate: two-thirds positive .. “

CNN’s Instant Poll of the State of the Union Will Trigger the Left (Margolis)

After Donald Trump’s 2026 State of the Union address, CNN political director David Chalian broke down the network’s instant poll — and it didn’t exactly produce the outrage or “failing Trump” narrative that the left likes to see. It was the kind of segment that left-wing pundits will be scrambling to spin before breakfast. You could tell the numbers would be bad for the left when Chalian immediately began qualifying the findings. “I just want to take a moment here to explain. This is a poll of speech watchers,” he began. “So it is not a poll that is reflective of the population overall.” Yeah, that’s kind of how polls of speeches work. Thanks for reminding us. But seriously, the fact that he made sure to emphasize that point twice, you just knew. It was like he was really about to say, “Hey, don’t get too happy, MAGA world.”


Oh yeah, and there was another caveat before he began. “What we know about people who tune in to State of the Union addresses,” Chalian added, “they tend to be fans of the president, whichever president is giving the speech.” He explained that the “polling universe here is about 13 points more Republican than the overall population usually is.” You ready? “So just keep all that in mind as we go to the results,” Chalian continued, doing damage control in real time. “Get this reaction from those that watch the speech tonight. 38% said they had a very positive reaction to the speech, 25% somewhat positive, 36% negative.” He paused just long enough for the math to sink in. “So roughly two-thirds in the positive territory, one-third negative among speech watchers.”


Let that line marinate: two-thirds positive ..

On CNN.

For Donald Trump.


https://twitter.com/WarMachineRR/status/2026530396821758073?s=20 Chalian also noted that among speech watchers, 64% “say his policies will move the U.S. in the right direction.” But here’s a metric I think is really important: the change from pre-speech to post-speech. According to the poll, before the speech, 54% of speech watchers said Trump’s policies would move the United States in the right direction — a 10-point jump. “So Donald Trump made some progress with people watching the speech from their pre-speech expectations to what they saw in the speech itself,” Chalian observed. “And that 64% number, that’s pretty much in range across all of his State of the Union addresses, in his first term, last year, the joint session, that’s about what we’ve seen is roughly two-thirds have walked away from his speeches thinking he’s going to move it in the right direction.”

https://twitter.com/RapidResponse47/status/2026531073459355793?s=20


Since this is CNN, Chalian still tried to cast the moment as a low point, even though most people who tuned in clearly liked what they heard, and even he had to admit that it was a good night for Republicans running in this year’s midterm elections. “If you’re a Republican on the ballot in 2026, I think you leave this speech being as happy as you could possibly be that he sort of stuck to the script on the economy,” Chalian said. “He gave red meat to the base on immigration, and they can leave the hall tonight and sort of take that out on the campaign trail.”

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“Trump addressed exactly one person: the American watching at home.”

A Masterclass in Giving a Speech Without Giving a Speech (Stephen Green)

Let’s set aside “the optics,” what the polls might show in a few days, who got “destroyed,” how many “truth bombs” Trump dropped, the “What it All Means” chin-scratcher pieces — ugh, I give up. I went MEGO again just mentioning those things, so that’s the last of them you’ll see in this column, and also, you’re welcome. But President Donald Trump’s whirlwind, time-defying performance left me (and maybe you, too) with a nagging question/realization that I’ll try to explain today: How do you give a speech — particularly a speech of two hours — without giving a speech? It was the longest State of the Union in history, but it was no slog.


“I wasn’t even planning to watch the whole thing and I just kept watching,” blogfaddah Glenn Reynolds posted to Instapundit last night, and my friend and partner in thoughtcrime Stephen Kruiser added in today’s Morning Briefing, “It may seem weird to say it about a speech of that length, but there was an economy to it that made it effective.” Plenty of the non-speech speech was scripted, of course, primarily penned by Ross Worthington. The wrap was particularly effective, and delivered with a grace that Trump throws aside whenever he likes. But not this time: “The revolution that began in 1776 has not ended. It still continues, because the flame of liberty and independence still burns in the heart of every American patriot. And our future will be bigger, better, brighter, bolder, and more glorious than ever before.”

Good stuff. But what people will and ought to remember are the moments when Trump at least appeared to go off-script. One instant classic example was when he called on Congress to outlaw insider trading — by Congresscritters. The ad-lib — and you can watch Trump wait for the perfect moment to sink the barb — comes at the 0:29 mark. “They stood up for that, I can’t believe it.”But then Trump pauses and waits again, the audience primed for a segue into the next topic, when he sinks the second barb, this one more direct: “Did Nancy Pelosi stand up, if she’s here? Doubt it.”

If. She’s. Here. A joke inside the joke that followed the joke. There were many such seemingly unscripted moments, particularly when Trump addressed his guests in attendance, or presented TWO Congressional Medals of Honor.While the congresscritters in attendance all played their party-mandated roles, Trump wasn’t speaking to them. He was speaking to us. More than that, I think he was speaking for us. That’s how a billionaire real estate mogul and reality TV star manages to maintain what we used to call “the common touch.” Bill Clinton — who grew up without any of Trump’s privileges — had to whack audiences over the head with how common he was. “I feel your pain,” indeed. Trump, on the other hand, does it more subtly.

Did I really just write “subtly” about Trump? Indeed, I did. Not quite a speech, Trump’s SOTU, I noted on Instapundit today, was more like a conversation — with the American people, with heroes in attendance, and even at times with surly Dems — that made the two hours fly. But the real secret is that Trump wasn’t speaking to the pundits with their mostly pre-written chin-scratchers based on the text of Trump’s talk. Trump addressed exactly one person: the American watching at home.

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” Just as Democrats have made it clear that they represent illegal aliens and not American citizens, Republicans have made it clear that they represent Israel and not American citizens”

Which Party Represents Americans? (Paul Craig Roberts)

For sometime I have made the point that America’ s enemies are at home, not in Iran, Russia, and China. Last night at Trump s State of the Union speech, the Democrats proved me to be correct. Trump asked the members of the US Congress to stand up if they agreed with his statement: the first duty of the American government is to protect American citizens, not illegal aliens. Many Democrats did not stand, which proves my point that if Democrats represent Americans at all, Democrats represent Americans as second-class citizens whose interests are sacrificed to illegal immigrant-invaders.


This is not an endorsement of Republicans. Unlike Democrats, Republicans do not hate white Americans. But Republicans, along with many Democrats, do sacrifice America’s interest to Israel’s. The US fights Israel s wars at the expense of American blood, money, and reputation. Federal state and local governments censor and punish Americans for criticizing Israel. Criticism of Israel is gradually being turned into an antisemitic hate crime, which means among other things that Americans cannot criticize the genocide and destruction of Palestine. In some American states, a person who is a critic of Israel cannot hold a state job or provide goods and services under contract to the state.

Currently in Texas the Israel lobby has brought a vote before the Texas legislature that incorporates Israeli propaganda as a mandatory part of statewide education in Texas. Is a bought and paid for Texas legislature going to permit Israel to shape the outlook of the rising American generation? If so, will it be an American generation or an Israeli one? Just as Democrats have made it clear that they represent illegal aliens and not American citizens, Republicans have made it clear that they represent Israel and not American citizens. The representation of Israel is manifest in the chant you can’t be an American if you don’t love Israel. Allegedly, America is a democracy, but neither political party represents Americans who are forced to support Israel and illegal aliens.

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Dems want, no, need, to see Trump not as The Other Party, but as The Enemy. i wonder why that is.

Sen. Chris Murphy Joins Pledge to Throw Trump Figures in Jail (Turley)

Before the State of the Union, Sen. Chris Murphy (D-CT) joined other leaders in promising Americans that the Democrats will unleash a revenge tour after taking power in November, pledging to start throwing Trump people in jail when they retake Congress. Murphy went on MS NOW to feed the rage addiction that has taken over his party.We recently discussed how Susan Rice joined the mob in stating that “When it comes to the elites, you know, the corporate interests, the law firms, the universities, the media … it’s not going to end well for them.”mShe followed other Democrats, assuring voters that, if they returned Democrats to power, they would crack down on their political opponents.


Republicans and law enforcement are now regularly called “Nazis” and “fascists” by Democratic leaders. Some are promising arrests from the President to individual police officers. Last week, Philadelphia District Attorney Larry Krasner promised to “hunt down” ICE officers like “Nazis.” Democratic strategist James Carville previously threatened that “collaborators” may be treated in the same way as they were after World War II. Gov. Tim Walz, who has called ICE officers “Gestapo,” said that this may be our “Fort Sumter” moment, a triggering event for a civil war that killed hundreds of thousands of Americans.

Democratic members have been warned that they have to join the mob or be devoured by it. Bravo star and liberal podcast host Jennifer Welch praised footage of a “No Kings” protester celebrating the death of Charlie Kirk. After playing the clip, Welch laughed with joy and declared, “So listen up, Democratic establishment. You can either jump on board with this s—, or we’re coming after you in the same way that we come after MAGA. Period.” Murphy clearly got the message and added his voice in declaring that “they’re going to get their clocks cleaned this November, and a bunch of people are probably gonna end up going to jail.” It is a curious pledge, since the Democrats could retake the House and Senate in November. That would not give them the ability to throw people into jail even if they had actual crimes to charge.

What is clear is that the Democratic Party has now decided to try to ride the rage wave to power, leading the mob with such reckless rhetoric. In “Rage and the Republic: The Unfinished Story of the American Revolution,” I explore the rise of what I call the “new Jacobins,” establishment figures who are calling for radical changes to our constitutional system and for retaliation against political opponents. It is a book about revolutions and how they can consume those who start them.These Democratic politicians will learn this lesson from history that they are likely to be devoured by the very mobocracy that they are unleashing through rage politics.

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Europe depends on it. A dark curtain is about to be drawn.

Trump Admin to Launch New Free Speech Site to Combat Censorship Abroad (ET)

In response to what the Trump administration says is a rising tide of censorship in Europe, the State Department is launching a new app that will give users worldwide access to content that has been censored in other countries. This includes not only Europe but also China and Iran. The platform, called Freedom.gov, will go live over the next several weeks, according to the State Department, and will be operable on iOS and Android devices.“Freedom.gov is the latest in a long line of efforts by the State Department to protect and promote fundamental freedoms, both online and offline,” the State Department stated in an email to The Epoch Times. “The project will be global in its scope, but distinctly American in its mission: commemorating our commitment to free expression as we approach our 250th birthday.”


Lauding the move, Jeremy Tedesco, senior counsel at the Alliance Defending Freedom, a civil rights legal group that has been critical of recent EU speech laws, stated on X that “for 250 years, this is what America does,” citing examples such as Radio Free Europe, which broadcast into communist countries during the Cold War. “If Europe’s bureaucrats don’t want you to see it, that tells you everything,” Tedesco stated. “Because even if your government fears freedom—ours doesn’t.” The First Amendment, which prohibits the U.S. government from “abridging the freedom of speech,” has provided a legal restraint against government censorship that most other countries lack.

Recent European speech laws, most notably the Digital Services Act (DSA), were ostensibly written to combat what lawmakers deemed “hate speech,” “harmful speech,” and “misinformation,” as well as pornography and abusive AI deep fakes. But critics of European speech codes say they are becoming increasingly draconian. In 2025, Virginie Joron, a French member of the European Parliament, called the DSA a “Trojan horse for s urveillance and control.” In Finland, Paivi Rasanen, a member of parliament, was charged for quoting Bible verses online in 2019, criticizing her church’s participation in a gay pride event. “I never imagined that quoting the Bible in a Twitter post would lead to years of criminal charges, yet this is now the reality in Europe,” she told The Epoch Times.

In Germany, illegal online speech could include insulting government officials. German police conducted early morning raids in June 2025 as part of Germany’s 12th annual “day of action against hate-posts,” and arrested 140 residents in the process. In the UK, people praying silently in the vicinity of abortion clinics were arrested in 2023 and 2025. Left-wing ruling parties in Canada are likewise working to remove religious exemptions from their “hate speech” laws. Increasingly, U.S. companies are facing extensive fines for allowing online posts that are illegal in Europe. In December, social media company X was fined $140 million for violating EU speech laws.

Such fines on U.S. tech companies, both for speech code violations and for what the EU deems to be anti-competitive behavior, could become a trade issue for the Trump administration. In January, President Donald Trump posted on Truth Social that the “EU makes more from fines on US tech, than tax from ALL of public European tech,” noting that in 2024, the EU fined American tech companies a total of 3.8 billion euros. In addition, legal experts have warned that Europe’s online censorship laws could also silence Americans if U.S. tech companies are forced, on a global basis, to take down content that violates EU speech codes.

A House of Representatives report released on Feb. 3 and titled “The Foreign Censorship Threat” stated that “The European Commission, in a comprehensive decade-long effort, has successfully pressured social media platforms to change their global content moderation rules, thereby directly infringing on Americans’ online speech in the United States.” According to the Digital Services Act, illegal online speech could include anything that is prohibited in any EU member country. And in one of the more explicit efforts to regulate speech globally, European Commissioner Thierry Breton warned X owner Elon Musk during the 2024 U.S. presidential campaign that his company could face penalties for posting an interview with Trump.

In a 2025 interview with The Epoch Times, Andrew Puzder, U.S. ambassador to the European Union, stated: “When a company like Facebook or Twitter or X has to change its algorithm, and that algorithm might impact the free speech rights of Americans, that’s something that we really can’t tolerate. I know President Trump is not going to allow a foreign government to restrict the free speech rights of American citizens in ways that even our own government couldn’t restrict them.”

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“The future of the region is being written east of Brussels – and Marco Rubio’s tour confirmed exactly what Brussels fears most ..”

A Continental Revolution Is Brewing In Europe (Zemánek)

When US Secretary of State Marco Rubio left the polite but brittle atmosphere of the Munich Security Conference and headed for Bratislava and Budapest, the contrast could not have been sharper. In Munich, the old guard of transatlantic liberalism clung to its vocabulary of ‘rules-based order’ and ‘shared values’, even as its political base erodes across the continent. In Central Europe, Rubio encountered something different: Governments confident in their mandates, unapologetic about sovereignty, and aligned with Donald Trump’s insistence that nations – not supranational bureaucracies – are the primary actors of history.


Last week’s visit was a statement of intent. Washington under Trump has made a deliberate choice: If Europe is to be a partner rather than a liability, it must be rebuilt from its healthiest political core. And that core lies not in Brussels, but along the Danube. In Bratislava, Rubio met with Prime Minister Robert Fico and President Peter Pellegrini. The agenda – regional security, nuclear cooperation, military modernization – was substantive. But the subtext was unmistakable. “Under President Trump, this administration is going to make not just Slovakia but Central Europe a key component of how we engage the continent and the world,” Rubio said. It was a diplomatic sentence with revolutionary implications.

For years, Central Europe was treated by Brussels as a problem to be managed: Too conservative, too attached to national identity, too resistant to cultural engineering. Now it is being treated by Washington as an asset to be cultivated. Fico’s remarks revealed why this shift matters. When he visited Moscow and Beijing last year in pursuit of Slovakia’s national interests, the reaction from EU institutions was furious – accusations, insinuations, moral lectures. Genuine diplomacy, in Brussels’ view, is acceptable only when it aligns with the prevailing orthodoxy. Yet from the White House, Fico encountered no hysteria – only what he described as “common-sense pragmatism.” The contrast speaks volumes.

Central European leaders have grown weary of an EU that polices internal politics more aggressively than it secures external borders. They have watched as energy supplies became instruments of political pressure and as ideological conformity became a condition of financial solidarity. Slovakia and Hungary have both experienced the weaponization of gas and oil transit routes by Kiev and Brussels – an illustration of how geopolitics, under Brussels’ watch, too often morphs into leverage against dissenting member states. Trump’s America reads the situation differently. Stability requires diversification, not dogma. Slovakia’s negotiations with Westinghouse Electric Company to build a new nuclear power plant by 2040, along with plans to expand its fleet of F-16 fighter jets, represent more than procurement decisions.

They symbolize a rebalancing: Energy sovereignty anchored in American partnership rather than EU dependency. Slovakia’s upcoming presidency of the Visegrad Group offers an even broader horizon. A potential V4-US summit would institutionalize what is already happening politically: The consolidation of a Central European bloc that sees Washington – not Brussels – as its most reliable strategic interlocutor. The Visegrad countries are not seeking rupture with the EU necessarily. They are seeking a radical reform within it. And they are finding in Trump’s America an ally that understands the difference.

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‘Unfortunately, our agricultural system depends heavily on these chemicals,’ Kennedy said.

Poison or hunger.

RFK Jr. Defends Trump’s Glyphosate Order (ET)

Health Secretary Robert F. Kennedy Jr. on Feb. 22 said that glyphosate is poisonous but necessary as he backed President Donald Trump’s recent order designating the production of the herbicide as critical to national security. In a lengthy post on social media, Kennedy said pesticides and herbicides are toxic. “When we apply them across millions of acres and allow them into our food system, we put Americans at risk,” he wrote. “Chemical manufacturers have paid tens of billions of dollars to settle cancer claims linked to their products, and many agricultural communities report elevated cancer rates and chronic disease. Unfortunately, our agricultural system depends heavily on these chemicals.”


If the United States were to stop using the products, then “crop yields would fall, food prices would surge, and America would experience a massive loss of farms even beyond what [it is] witnessing today,” Kennedy said. He described Trump’s order as protecting national defense and the nation’s food supply, stating that Trump inherited the current agricultural system and that his administration is shifting from it without destabilizing the food supply. “We are accelerating the transition to regenerative agriculture by expanding farming systems that rebuild soil, increase biodiversity, improve water retention, and reduce reliance on synthetic chemicals, including pre-harvest desiccation,” Kennedy wrote.

“We are also driving the rapid adoption of next-generation technologies, including laser-guided weed control, electrothermal and electrical systems, robotics, precision mechanical cultivation, and biological controls that replace blanket spraying with precision intervention. “These solutions are not theoretical. Farmers are already putting them to work. Markets are scaling them. Now the federal government will act with urgency to expand their reach and accelerate adoption nationwide.” Kennedy said later: “The Make America Healthy Again agenda forces us to challenge long-standing assumptions about how we grow food, structure markets, and measure success in this country. Reform at this scale will test entrenched interests, and it will not move in a straight line.”

In his Feb. 18 order, Trump said herbicides with glyphosate are widely used in the United States and enable farmers to achieve high yields and low production costs. “There is no direct one-for-one chemical alternative to glyphosate-based herbicides,” the president wrote. “Lack of access to glyphosate-based herbicides would critically jeopardize agricultural productivity, adding pressure to the domestic food system, and may result in a transition of cropland to other uses due to low productivity.“Given the profit margins growers currently face, any major restrictions in access to glyphosate-based herbicides would result in economic losses for growers and make it untenable for them to meet growing food and feed demands.”

He designated production of glyphosate as a critical national security and directed Agriculture Secretary Brooke Rollins to ensure that there is an adequate supply of the herbicides and elemental phosphorus, one of the ingredients in the products. Some people supportive of the Make America Healthy Again movement criticized the designation. Kelly Ryerson, coexecutive director of American Regeneration, told The Epoch Times that it “doubles down” on a system that is making the U.S. population sick and killing the soil. “We already have a limited number of harvests left,” she said.

Bayer, which produces glyphosate-based herbicide Roundup, just proposed a $7 billion settlement to resolve thousands of lawsuits that allege that Roundup caused cancer. Bayer maintains that Roundup is not carcinogenic and can be used safely. That stance is shared by the Environmental Protection Agency, although the International Agency for Research on Cancer lists glyphosate as probably carcinogenic.

Kennedy, while running for president in 2024, said in a post on X that glyphosate was “one of the likely culprits in America’s chronic disease epidemic” and that the Department of Agriculture would, if he won the election, ban its use as a desiccant on wheat. His Make America Healthy Again Commission in 2025 also said that glyphosate studies “have noted a range of possible health effects, ranging from reproductive and developmental disorders as well as cancers, liver inflammation and metabolic disturbances.”

Kennedy said in a previous statement to The Epoch Times, after Trump signed the new glyphosate order: “When hostile actors control critical inputs, they weaken our security. By expanding domestic production, we close that gap and protect American families.” Zen Honeycutt, founder of Moms Across America, said in response to Kennedy’s post on X that she understands aspects of his position but that after about a year of the Trump administration being in power, officials have not worked to limit people’s exposure to pesticides. “We love you Bobby but this administration needs to keep their word,” she said in a Feb. 23 post on X. “We were promised specifically clean air, clean water, and addressing of the pesticides [in] our foods.”

Read more …

If the EU wins, everybody loses.

EU To Start Permanent Ban on Russian Oil 3 Days After Hungarian Election (CTH)

I guess we can put this in the open admission file surrounding the all-out effort by the European Union to defeat Hungarian Prime Minister Viktor Orban According to a leaked document received by Reuters, the European Union is scheduled to permanently ban all EU nations from importing Russian oil. They have scheduled the ban to trigger on April 15th, three days after the Hungarian election.


BRUSSELS, Feb 24 (Reuters) – “The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary’s parliamentary election, according to EU officials and a document seen by Reuters. Two EU officials told Reuters the timing was designed to prevent the oil ban becoming a major factor in Hungary’s election campaign. Hungary and Slovakia, still reliant on Russian oil imports, are strongly opposed to any ban.In the April 12 election, Hungarian Prime Minister Viktor Orban and his nationalist Fidesz party are facing the biggest challenge to their hold on power in 16 years.

The EU has already imposed sanctions on imports of seaborne Russian oil. But it wants to enshrine a full phase-out of Russian oil in legislation that would remain in place, even if a peace deal in the Ukraine war led to the EU lifting sanctions. nThe Commission plans to propose the Russian oil ban on April 15, according to a draft agenda seen by Reuters. Asked about the matter, a Commission spokesperson told Reuters the EU executive’s agendas were provisional and that it did not have a confirmed timeline for submitting the proposal.” (read more)

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“To UK Prime Minister Keir Starmer, the true goal of Tuesday’s get-together seemed to be ensuring that Ukraine keeps winning in the imagination of the Western public.”

Solidarity Simulacra: Zelensky’s Four-Year Reality Check (RT)

Vladimir Zelensky brought some of his most ardent fans to Kiev to mark the fourth anniversary of his wartime leadership, but the supporting actors in the Ukraine Cinematic Universe had little to offer him.mA look at the guests who showed up suggests Ukraine’s backers are divided into those who have to and those who don’t. European Commission President Ursula von der Leyen and European Council chief Antonio Costa arrived in Kiev on Tuesday morning, along with the leaders of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Croatia, Norway, and Sweden. Von der Leyen declared “that Europe stands unwaveringly with Ukraine, financially, militarily, and through this harsh winter,” and promised to help Zelensky achieve “Peace on Ukraine’s terms.”

“In Kyiv for the tenth time since the start of the war.To reaffirm that Europe stands unwaveringly with Ukraine, financially, militarily, and through this harsh winter.To underscore our enduring commitment to Ukraine’s just fight.And to send a clear message to the Ukrainian”… pic.twitter.com/iULkEQji16 — Ursula von der Leyen (@vonderleyen) February 24, 2026

In reality, von der Leyen’s plan to keep Ukraine afloat until 2028 with a €90 billion ($106 billion) debt-funded loan package has been vetoed by Hungarian Prime Minister Viktor Orban. Von der Leyen arrived in Kiev empty handed, and in a video address to the European Parliament later on Tuesday, Zelensky held out the begging bowl once more, asking for the loan, for fast-tracked EU membership, and for more sanctions on Russia – which Orban has also vowed to veto. The European leaders who accompanied von der Leyen are in no place to help Zelensky either. The Baltic states of Estonia, Latvia, and Lithuania have long ago emptied their arms stockpiles, with former Lithuanian Foreign Minister Gabrielius Landsbergis admitting in 2023 that he could only provide “political arguments” for arming the Ukrainian military, as Lithuania does not have its own “significant stockpile of weapons.”

All of the European leaders who visited Zelensky on Tuesday have authorized weapons purchases from the US for Ukraine under NATO’s PURL initiative. However, NATO’s European members have spent just over $4 billion on American weapons in the five months since August. When the US was arming Ukraine directly, it spent $10 billion every five months.

Where are the Americans?
The US, despite still indirectly arming Ukraine through PURL and providing intelligence, surveillance, and reconnaissance data to its forces, remains the only Western power capable of forcing Zelensky to make the necessary concessions to resolve the conflict. Whereas the US has participated in three rounds of trilateral talks with Russian and Ukrainian officials, the Kremlin sees no point in talks with the Europeans. In the words of Russian Foreign Minister Sergey Lavrov, “the current generation of European leaders…have entrenched themselves too deeply in a posture of hatred towards Russia” to be taken seriously.

Not a single US official made the trip to Kiev on Tuesday. Their absence was conspicuous, after a year of Zelensky lobbying US President Donald Trump to visit the Ukrainian capital, and after a BBC interview on Monday in which the Ukrainian leader begged Trump to “stay on our side.” The British, French, Germans, and Italians also skipped the junket, choosing to send their messages of solidarity remotely during a meeting of the ‘Coalition of the Willing’ later in the afternoon. If Zelensky hoped for something more concrete from the coalition, his hope was misplaced.

During the meeting of the 34-nation group, Ukraine received the promise of “full and sustained support,” according to a statement published by the UK, which co-chaired the virtual gathering. In reality, the coalition’s members could only echo Zelensky’s calls for more money and weapons, without actually offering any of either. Talk by coalition members France and the UK of sending troops to Ukraine remains a post-conflict hypothetical, and a red line for Russia. To UK Prime Minister Keir Starmer, the true goal of Tuesday’s get-together seemed to be ensuring that Ukraine keeps winning in the imagination of the Western public.

”We’ve got to shift the narrative,” Starmer said. “Whatever Putin tells himself and his people, Russia is not winning, and we must shift the narrative into that place with greater force and determination.” Starmer’s statement sums up the current state of play for Zelensky and his Western backers. Narrative management is the best they can offer. Think more ‘Ghost of Kiev’ myths instead of actual deliveries of fighter jets. More pomp and circumstance, troop reviews, and deal memos.

The danger exists that once Ukraine’s most committed European backers come to terms with the fact that they’ve poured all their money and political capital into a hopeless cause, drastic solutions could become more appealing. In that light, Russia’s Foreign Intelligence Service (SVR) on Tuesday accused Britain and France of plotting the “covert transfer of relevant European-made components, equipment, and technologies” for the production of nuclear weapons to Ukraine. Both nations are also reportedly considering handing over a French TN 75 warhead to Kiev, or encouraging the Ukrainians to build a dirty bomb.

While London and Paris have both denied any plot to supply Ukraine with nukes, one line in the statement stands out – that the leaders of Britain and France have “lost touch with reality.” When reality does catch up with Zelensky and his ‘Avengers’, the results will be messy.On February 24, four years to the day since the constant killing in Donbass escalated into open conflict, Ukrainian leader Vladimir Zelensky trudged through the snow outside his offices in Kiev to a Soviet-era air raid bunker with a camera crew in tow. In a concrete tunnel once built to ensure continuation of government in the event of a Western attack, Zelensky opened his fourth anniversary video address with a now-famous anecdote:

”Here I spoke with [US] President [Joe] Biden, and it was right here that I heard: ‘Vladimir, there is a threat, you need to leave Ukraine urgently’. And here I replied that I need ammunition, not a ride.” The quote was entirely fake – fabricated by US intelligence agents for Western consumption. But four years into a conflict that could have been easily settled in 2022, with tens of millions of Ukrainians dead, injured, or emigrated, and with his country sentenced to lifetimes of unpayable debt, Hollywood one-liners and Marvel-comic optics are all Zelensky has left.

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France and the UK are considering covertly handing nuclear capabilities or a ‘dirty bomb’ to Kiev, Russian intel has claimed..

Moscow Will Respond If NATO Gives Nukes To Nazi Regime In Kiev – Medvedev (RT)

Russia would launch a nuclear response if NATO countries supplied atomic weapons to Ukraine, former President Dmitry Medvedev has warned. Medvedev, who now serves as deputy chairman of Russia’s Security Council, was commenting to RT on Tuesday on claims by Russia’s Foreign Intelligence Service (SVR) that London and Paris are considering ways to provide nuclear weaponry or related components to Kiev.m“I will be blunt and state the obvious,” Medvedev said, adding that the reported intention by the UK and France to hand over nuclear capabilities to the “Nazi regime in Kiev” would change the situation entirely. “This is a direct transfer of nuclear weapons to a country at war,” he stated.


According to the SVR, British and French officials are weighing the “covert transfer of relevant European-made components, equipment, and technologies to Ukraine,” and preparing an information campaign to portray any resulting capability as domestically developed. “There should be no doubt whatsoever that in such a scenario Russia would be forced to use any means at its disposal, including non-strategic nuclear weapons, against targets in Ukraine that threaten our country,” Medvedev stated. “And if necessary, against the supplier nations now implicated in a nuclear conflict with Russia. This is the kind of symmetrical response that the Russian Federation would be entitled to,” he added.

The SVR also alleged that another option under discussion was the provision of a complete French TN 75 nuclear warhead used on submarine launched ballistic missiles, or assistance in building a radioactive “dirty bomb” using conventional explosives and nuclear materials. Kiev could seek “more advantageous terms” in any negotiations if it possessed such weapons, the SVR suggested, adding that Germany had “prudently refused” to participate. Kremlin spokesman Dmitry Peskov described the reported plans as “potentially very dangerous,” saying they would threaten the global non-proliferation regime. Ukraine has argued that it gave up its nuclear arsenal in exchange for security guarantees that later proved worthless. While a significant portion of Soviet nuclear forces were stationed in Ukraine, Kiev never controlled the missiles.

The 1994 Budapest Memorandums provided assurances – but not legally binding guarantees – to Ukraine, Belarus, and Kazakhstan that their territorial integrity would be respected after transferring Soviet nuclear weapons to Russia. At the 2022 Munich Security Conference, shortly before the Ukraine conflict escalated, Ukraine’s Vladimir Zelensky suggested Kiev could reconsider its non-nuclear status.Moscow maintains that after the 2014 Western-backed coup in Kiev, Ukraine’s new authorities breached the neutrality pledge underpinning its post-Soviet independence by making NATO membership a key foreign policy goal.

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“.. if approved, the EU loan would end up being stolen by corrupt Ukrainian officials..”

Zelensky Demands €90 Billion EU Loan (RT)

Ukraine’s Vladimir Zelensky has demanded that the EU approve a €90 billion ($106 billion) loan backed by the bloc’s taxpayers that has been vetoed by Hungary. Provisionally agreed upon last December, the plan envisages an interest-free loan to Ukraine for 2026-2027, with €60 billion earmarked for military needs and €30 billion for “general budget support.” It would be covered through joint EU borrowing and only repaid if Ukraine receives war reparations from Russia. Hungary, Slovakia, and the Czech Republic opted out of contributing to the loan, which is estimated to result in up to €5.6 billion in annual interest payments for member states. The scheme was approved after the bloc failed to agree to use Russia’s frozen central-bank assets to finance Ukraine due to opposition from several member states over the legal hurdles and risks.


Addressing the European Parliament via video link on Tuesday, Zelensky said that “right now there is an important decision… on the table – €90 billion in support for Ukraine over two years.”“This is a real financial guarantee of our security and our resilience, and it must be implemented,” the Ukrainian leader insisted. On Monday, Hungary vetoed the EU’s proposed emergency loan for Ukraine, as well as the latest package of sanctions against Russia. Budapest accused Kiev of jeopardizing the “security of Hungary’s energy supply” by deliberately blocking use of the Soviet-era Druzhba pipeline for political reasons. The transit of Russian oil to EU consumers via the conduit has been on hold since late January, with Kiev blaming Moscow for damaging it. Russia has denied the allegations.

Ukraine expects its Western backers to cover a budget deficit of around $50 billion this year. El Pais reported in October that the Ukrainian government could run out of money by April. Speaking last month, Russian Foreign Ministry spokeswoman Maria Zakharova said that if approved, the EU loan would end up being stolen by corrupt Ukrainian officials.

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It’s about money.

Bill Gates Begins Apology Tour Over His Epstein Ties (ZH)

A week after Bill Gates abruptly pulled out as a keynote speaker at a high-profile global AI summit in India, the left-wing billionaire finally mustered enough nerve to “take responsibility for his actions” over his ties to late financier and sex offender Jeffrey Epstein during a town hall meeting with Gates Foundation employees.The Wall Street Journal reports that Gates told employees at a town hall event for the foundation on Tuesday that he never spent time with Epstein’s victims, and never visited Epstein’s island. He revealed that Epstein later learned about two affairs he had with Russian women, but said those relationships did not involve Epstein’s victims. Gates said photos in the Epstein files show him with redacted women were taken by Epstein’s assistants after meetings. Did Gates fall into a Russian honeypot?


“I did nothing illicit. I saw nothing illicit,” Gates emphasized, according to a recording reviewed by WSJ journalists. Gates continued, “To be clear, I never spent any time with victims, the women around him.” “It was a huge mistake to spend time with Epstein” and bring Gates Foundation executives into meetings with the sex offender, Gates said, adding, “I apologize to other people who are drawn into this because of the mistake that I made.” Last week, the $86 billion philanthropic body’s last-minute decision to yank Gates was a major embarrassment and came as the Epstein fallout worsened, with many high-profile people under fire.

“Knowing what I know now makes it, you know, a hundred times worse in terms of not only his crimes in the past, but now it’s clear there was ongoing bad behavior,” Gates said. He gave credit to his ex-wife, who “was always kind of skeptical about the Epstein thing.” Gates told staff he began meeting Epstein in 2011, despite the financier’s 2008 guilty plea for soliciting a minor for prostitution. He said he was aware of the “18-month thing” that had restricted Epstein’s travel, yet continued the relationship, even after his then-wife, Melinda French Gates, raised serious concerns in 2013. He said the relationship continued through 2014 and that he flew on a private jet with Epstein and spent time with him in Germany, France, New York, and Washington. “I never stayed overnight,” he said, or visited Epstein’s island.

He said Epstein “talked about the kind of intimate relationship he had with a lot of billionaires, particularly Wall Street billionaires,” and that he could help raise money for global health nonprofits. “It definitely is the opposite of the values of the Foundation and the goals of the Foundation,” he said. “And our work is very reputation-sensitive. I mean, people can choose to work with us or not work with us.” No matter what, the Gates Foundation has a dark cloud hanging over it because of Gates’ involvement amid the deepening Epstein fallout.

Gates is worth billions, so why would he need Epstein to raise money for global health nonprofits? Something doesn’t pass the sniff test in this damage-control town hall he held for his foundation’s employees.

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“Joe Biden waived Trump’s executive privilege ..”

Fani Willis Plotted Trump Case Closely With Biden DOJ, J6 Democrats (JTN)

Just the News and America First Legal win access to 8,000 pages of documents after extensive open records litigation. The memos include revelations on how Joe Biden waived Trump’s executive privilege specifically to aid Georgia prosecutors. Fulton County District Attorney Fani Willis coordinated extensively with the Biden Justice Department and White House as well as Democrats on the House Jan. 6 investigative committee as she built a failed criminal case against President Donald Trump and his allies related to their challenge to Georgia’s 2020 election results, according to a trove of internal communications obtained by Just the News.


The memos show that President Joe Biden’s top White House lawyer personally opened the door for Willis’ prosecutors to interview Trump administration officials by waiving claims of executive privilege, that federal prosecutors waived certain rights to allow the interviews to proceed before a state grand jury and that Willis’s team spoke glowingly of the congressional efforts to expose Trump’s involvement in the disputed election. “Our initial review of the report confirms you all have accomplished amazing things in the past year,” F. Donald Wakeford, a top deputy to Willis, wrote in a December 2022 email to Tim Heaphy, chief investigative counsel for the Democrat-run Select Committee to Investigate the Jan. 6 Attack on the U.S. Capitol.

Just the News, alongside the nonprofit public interest law firm America First Legal (AFL), sued Willis for the records, under Georgia’s Open Records Law. Willis, a longtime Trump nemesis, sought to hide many of the records with claims of legal privilege during a prolonged legal fight. In a reaction to the lawsuit, Willis’ office this week dropped all privilege claims and released all the documents without any redactions, providing to Just the News — and the public — more information than it did to congressional Republicans on the House Judiciary Committee.

“These documents reveal that the Biden Administration and the January 6 Committee were much more involved in District Attorney Fani Willis’s prosecution of President Trump than was previously believed. AFL was happy to represent Just the News to get Americans this new information,” said Will Scolinos, an attorney at America First Legal. The documents show a cozy relationship between the Biden administration and Willis’ staff, one that included a meeting between her outside special prosecutor Nathan Wade and the Biden White House.Wade, who admitted to a “personal relationship” with Willis outside the office, billed Fulton County $2,000 for an “interview with DC/White House” on Nov. 18, 2022, just as Willis’ probe was accelerating, according to the new records Willis was forced to disclose.

There is no further explanation in the documents for that interaction, and Fulton County told Just the News and its lawyers at AFL that Wade did not keep any records of what happened at that meeting. Calls to Willis for comment were not returned by publication time.= The new memos show that the Biden White House counsel’s office gave Willis’ prosecution team a major gift, waiving Trump’s ability to claim executive privilege and to block former administration officials from testifying.

Executive privilege is the implied authority of the U.S. president to withhold information that the executive branch possesses from Congress or the Judiciary on the grounds that a president is entitled to confidential advice before making decisions. It is a long-standing American tradition and the secrecy of presidential communications was first referenced by Chief Justice John Marshall in the landmark case Marbury v. Madison.

Ironically, President Obama and his Attorney General Eric Holder asserted the same privilege during investigations of the botched “Fast and Furious” gunrunning scheme. The Reporter’s Committee for Freedom of the Press noted that “When a president invokes executive privilege, it may be among the most difficult walls to penetrate because the number of potential leakers with access to White House documents is limited and closely monitored.” In some instances, reporting has simply been prevented from reporting on an important issue because the blockade worked.

Biden, however, believed that the “extraordinary events” surrounding the “insurrection” on Jan. 6 in the U.S. Capitol, warranted waiving this historical understanding of the privacy of presidential communications, the new memos show.

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“He’s not a puppeteer. He’s simply a pervert.”

Oh no Scott Pinsker, he was the master puppeteer.

Comey’s Leaker Claims The Epstein Files Shouldn’t Have Been Released (Pinsker)

But the common thread of leveraging sex to monetize relationships is 100% applicable. It happens a lot. And that’s the biggest blessing of the Epstein Files: It took the repulsive practice of peddling flesh for financial favors out of the shadows. Today, the whole world knows the truth. Sunlight really is the best disinfectant. Which is also why the PR pushback of the Deep State is so fascinating: On Feb. 23, the New York Times ran a remarkable op-ed: “The Epstein Files Should Never Have Been Released.” A few excerpts: [W]e should recognize the release of millions of pages of the Epstein files as both a sign of institutional failure and a cause for concern. If our justice system were working properly, the public would never have such access.


[…]The release of the files is also cause for concern because so much of the raw investigative material in them — untold layers of hearsay, unverified accusations and vague circumstantial connections — ought not be released for the public to pick over. […] When materials collected in a criminal investigation get released in bulk for public consumption, the justification for the coercive and privacy-invading tools we give investigators gets a lot weaker. Institutions claiming to protect user or customer privacy might be more likely to resist valid uses of these tools. Witnesses who would otherwise speak to investigators about sensitive matters might start to rethink whether they want to provide grist for internet searches.

What’s especially fascinating is the author of the New York Times’ piece: Daniel Richman, whom the Times described as a “former federal prosecutor.” But that’s not why Richman is famous. Daniel Richman is the Columbia Law School professor who leaked anti-Trump news stories on behalf of disgraced FBI Director James Comey to trigger a special counsel investigation. From ABC News (June 13, 2017): Who Is James Comey’s Friend and Leaker Daniel Richman? “Daniel Richman is the Columbia Law School professor through whom former FBI Director James Comey shared details of his contemporaneous memos about meetings with President Donald Trump to the New York Times.

Speaking before the Senate Intelligence Committee on June 8, Comey said he wanted to get a record of his meetings with President Donald Trump “out into the public square” so he decided to ask a friend to share the content of his memo with a reporter. “Didn’t do it myself, for a variety of reasons. But I asked him to, because I thought that might prompt the appointment of a special counsel. And so I asked a close friend of mine to do it,” Comey told Sen. Susan Collins (R-Maine). Collins asked who that was, and he responded, without providing a name, “A good friend of mine who’s a professor at Columbia Law School.” [emphasis added] Those “variety of reasons” began and ended with a list of one: It would’ve exposed Comey to criminal prosecution for leaking classified information.

PJ Media colleague and friend, Dave Manney, explored Richman’s twisted logic and elitist double-standard on secrecy: Daniel Richman wants the public to regret the files even as they read them, calling the dump a spectacle that highlights the Justice Department’s lack of confidence. I hate to tell him, but confidence died because the department slow-walked leads and cut sweetheart deals for decades. Americans didn’t ruin the system by demanding the truth. The people who protected Epstein and his ilk ruined it. He’s right — but the bigger story isn’t just Richman’s pretzel-shaped logic. It’s the intent behind it. Because Richman has proven himself to be a willing mouthpiece for the Deep State.

That’s how we all know his name. The New York Times might’ve described him as a “former federal prosecutor,” but that’s not why he’s famous. It’s his relationship with Comey that put him in the limelight. Based on precedent, it’s reasonable to assume he’s still speaking for James Comey. So why would the ex-FBI director — and hardline Trump critic — come out swinging AGAINST the release of the Epstein Files? After all, despite the hype and hoopla, none of the conspiracy theories about blackmail schemes, international espionage, and foreign governments were substantiated. If anything, the millions of Epstein documents and/or 300-plus gigabytes of data vindicated the government’s approach: It was less an elaborate cover-up and more a rich guy gaming the legal system on his own.[..]

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Feb 252026
 
 February 25, 2026  Posted by at 10:54 am Finance Tagged with: , , , , , , , , ,  62 Responses »


Piet Mondriaan Victory Boogie Woogie 1942-44


Are Democrats Working Against Their Own Voters? (Eric Florack)
How a Party Offends Its Voters (Daniel McCarthy)
What the FBI Is Investigating in Criminal Probe of 2020 Election (ET)
Democrats Double Down on SOTU Boycott (DS)
‘You Owe Us’ Is the Mantra of the Left (Victor Davis Hanson)
US To Integrate Musk’s Grok AI Into Classified Military Systems (RT)
Trump, Along With Democrats, Will Make Their Case Tuesday at State of the Union (JTN)
Netflix’s Stock Plunges After Refusing to Fire Susan Rice (Bryan S. Jung)
We Need to Talk About Artemis (Stephen Green)
Royal Theater, Silent Streets: Loud On Epstein Ties, Silent On The Roving Gangs (David Manney)
Ukraine (EU) Strikes Russian Oil Pumping Station (CTH)
Slovakia Halts Electricity Supplies To Ukraine (RT)
Hungary Vetoes €90 Billion EU Loan For Ukraine (RT)
Ukraine Hates Us – Hungary (RT)
The New Navalny Poison – This Swedish Disinformation is a British Lie (Helmer)

 


 

Apart from the SOTU, which deerves enough attention already, there’s the rumor today that France and Britain have de facto become Ukraine’s army, and are as we speak preparing to send a nuclear bomb to Kyiv.

 


 

https://twitter.com/EricLDaugh/status/2026494398477803567 https://twitter.com/DD_Geopolitics/status/2026269269541916753?s=20

 


 


“I have a new philosophy. I’m only going to dread one day at a time.” — Charlie Brown

Are Democrats Working Against Their Own Voters? (Eric Florack)

Let’s start with a few quotes. This quote comes from a May 22, 2020, interview on The Breakfast Club, a popular radio show, where Biden was speaking with host Charlamagne tha God. As the interview was wrapping up, Biden famously said: “If you have a problem figuring out whether you’re for me or Trump, then you ain’t black.” Next, we offer up for your inspection this quote from New York Gov. Kathy Hochul, speaking at the Milken Institute Global Conference in Los Angeles on May 6, 2024: “Right now, we have young Black kids growing up in the Bronx who don’t even know what the word “computer” is. They don’t know. They don’t know these things.”She made the remarks while touting a $400 million supercomputer initiative in New York.


And finally, and most recently, we have this from California Gov. Gavin Newsom:”I’m not trying to impress you. I’m just trying to impress upon you, I’m like you. I’m no better than you. You know, I’m a 960 SAT guy… You’ve never seen me read a speech because I cannot read a speech.”nbNewsom was obviously trying to impress the predominantly black audience that attended the Atlanta event promoting his newly released memoir. If you wanted an indication of his presidential ambitions, you need look no further than his book release. If you were looking for an indication of how bad he would be in the role, look no further than the quote. I mean, if he believes black people can’t read, why in the world is he promoting his book to them? For the pictures?

It’s fairly obvious that these were not planned remarks. If they were planned, someone in Gov. Gruesome’s team needs flogging. We can assume these quotes just kind of slipped out, an untold truth.The quotes do reveal something of the inner workings of the leftist mind. Just as obvious, in every case of the above quotes, minority citizens are diminished in the eyes of the members of a party supposedly on their side. Can you imagine the howling and screaming if anyone in the GOP even came close to this level of stupidity? Why, the press would be 24/7 wall-to-wall with it for the next month, if not longer, And it would come up again at the next election. As it is, do a search on the Biden quote, as an example. You’ll find very few references to it.

In a sane world, any of these quotes would be career-ending for any political figure. But of course, these are Democrats, so sanity doesn’t even enter the discussion.Then we have the overarching antisemitism of the Democrats that goes back decades. In that direction, for example, lies the political demise of Joe Lieberman. The cause? His support for Israel in the face of attacks by the Palestinians, as directed by Iran. Matt Margolis gets into some of this: Axios is reporting that senior Democratic officials who worked on the party’s secret post-election autopsy concluded that Kamala Harris lost measurable support because of the Biden administration’s handling of the Israel-Gaza war. According to multiple sources, the DNC’s own data flagged the party’s Gaza position as a “net-negative” in the 2024 election.

That’s a rather diplomatic way of saying that they weren’t anti-Israel enough. According to the report, the DNC did meet with the Institute for Middle East Understanding (IMEU) Policy Project — a pro-Palestinian advocacy organization — as part of its evaluation process. During that meeting, according to IMEU spokesperson Hamid Bendaas, “the DNC shared with us that their own data also found that policy was, in their words, a ‘net-negative’ in the 2024 election.” Two other senior IMEU aides confirmed the same conclusion. Axios independently corroborated that Democratic officials believe the issue damaged the party’s appeal with specific voter demographics. Yeah, that demographic is the antisemitic left.

Indeed so. But of course, a bit under 70% of Jewish citizens vote Democrat at every opportunity. Similarly, black voters vote Democrat in huge percentages, though that’s been changing of late. In every case, the Democrat claim to speak for the advancement of traditional minority groups, for which they receive much support from voters. Democrats claim that the GOP is a bunch of racist, misogynist fools who would bring back slavery if they could.

And yet, finding anti-black, anti-woman, anti-religious, anti-farmer, anti-flyover states, and anti-middle class statements and actions by these same Democrats is easy enough. And of course, Donald Trump is the racist Nazi. Right? Yeah, makes no sense to me, either.nbTake care of yourselves today. I’ll see you here tomorrow.

Thought of the day: “I have a new philosophy. I’m only going to dread one day at a time.” — Charlie Brown

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“His way of bonding with black ppl is to tell them how stupid he is & that he can’t read..”

How a Party Offends Its Voters (Daniel McCarthy)

Gavin Newsom won’t be the Democrats’ 2028 presidential nominee unless he wins a significant share of the African American vote. So how’s he courting it? Promoting his new memoir to a largely black audience in Atlanta, the California governor decided to forge a connection by boasting about his poor SAT scores and difficulty reading. “I’m like you,” he said.”You know, I’m a 960 SAT guy” and “you’ve never seen me read a speech. Because I cannot read a speech.”Newsom suffers from dyslexia, but he obviously wasn’t assuming he was addressing a room full of voters with the same debility.He just looked around and concluded this audience wouldn’t have high academic aspirations.


“How insulting” was the response on X from Nina Turner, a former Democratic state senator in the battleground state Ohio and now a senior fellow with the Institute on Race, Power and Political Economy. The outspoken rapper Nicki Minaj was just as direct: “His way of bonding with black ppl is to tell them how stupid he is & that he can’t read,” she posted. Even a tactful Democratic consultant quoted in TheGrio said she was “disappointed” by Newsom: “He’s a great wordsmith, so I was kind of bothered by the way that he said it,” Ameshia Cross told the outlet. Luckily for Newsom, some of his rivals for the 2028 nomination have even less rapport with black voters. Polls often register Pete Buttigieg’s African American support at zero percent.

The likes of Buttigieg are no threat to Newsom no matter how many gaffes he makes, but his fellow Californian Kamala Harris is another story. It’s true her 2020 campaign didn’t even make it to the first primary — it imploded in December 2019. But Harris failed upward, getting chosen as Joe Biden’s running mate and then replacing him without a competition four years later. Now she’s Newsom’s roadblock. The ’28 race isn’t far away: In about a year, all the contenders on the Democrats’ side will be clear — and maybe they already are. Newsom and Harris have serious liabilities, not least the deteriorating condition of the blue state they both call home: Does the whole country want to wind up like today’s California?

Do businesses and families fleeing Newsom’s state for the freedom and lower taxes of Texas and Florida want the governor’s ruinous recipe attempted nationwide? Yet Democrats looking for an alternative to the California scheme represented by Harris and Newsom have little to choose from. Pennsylvania is the nation’s most important battleground state, and culturally and economically similar enough to other battlegrounds like Ohio and Michigan that a successful Pennsylvania pol might have the right stuff to sweep the Electoral College. But Josh Shapiro, the Keystone State’s Democratic governor, has problems of his own with one of the party’s key constituencies — critics of Israel.

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“Fulton County had more than half a million ballots to tabulate—almost 90 percent cast early or by mail. The result was announced several days later: Biden won the county by 26-point margin.”

What the FBI Is Investigating in Criminal Probe of 2020 Election (ET)

After the election offices of Georgia’s most populous county were raided last month, the FBI has disclosed information indicating where its investigation is heading. Federal laws may have been broken during the 2020 election according to the affidavit supporting the court-approved raid. Yet the breadth of the materials seized shows the FBI may be able to check the integrity of the ballots more broadly, uncovering further issues or putting speculation to bed. President Donald Trump’s campaign challenged the Georgia election most vigorously, as he lost the state to President Joe Biden by fewer than 12,000 votes according to the official tally.


The legal challenges failed. Instead, Trump was indicted based on rationale that his efforts to challenge the election results were allegedly executed with corrupt intent. The case was dismissed after he became president again in 2025. The renewed investigation now targeting Fulton County, which covers the broader Atlanta area, uses a rationale analogous to the case against Trump. The affidavit states that if known irregularities in the election were intentional, such acts would be criminal. On Jan. 28, agents seized some 700 boxes of election records, including physical ballots from the 2020 election. County officials have since filed a lawsuit seeking to have the materials returned.

The issues detailed in the affidavit were largely discovered years ago by concerned citizens using data obtained through freedom of information requests or litigation. Georgia Secretary of State Brad Raffensperger, who was responsible for overseeing the election and is running for governor of the state, has dismissed the issues as administrative and human errors too small to affect the election’s result. The FBI, however, has a different perspective. “If these deficiencies were the result of intentional action, it would be a violation of federal law regardless of whether the failure to retain records or the deprivation of a fair tabulation of a vote was outcome determinative for any particular election or race,” reads the affidavit signed by FBI Special Agent Hugh Evans.

Raffensperger has repeatedly stressed that the 2020 votes were counted three times, including a hand recount and a machine recount. However, many of the deficiencies outlined in the affidavit happened during these recounts. Vote counting in Georgia starts by law on election day. Fulton County had more than half a million ballots to tabulate—almost 90 percent cast early or by mail. The result was announced several days later: Biden won the county by 26-point margin. One issue with the results was a lack of receipts. Each tabulator machine should be “closed” at polls closing and tabulator tape should be printed out to show how many ballots and votes for each candidate were counted. Then, the tape should be signed by the poll manager and two witnesses.

Yet tabulator tapes for more than 300,000 votes weren’t signed, and some were missing altogether, wrote Evans, referring to an analysis by Clay Parikh, a voting machine security expert. Raffensperger said that was merely administrative oversight, as the vote tallies aren’t recorded on the tape alone. They are also preserved on memory cards in the machines. But Parikh’s analysis went deeper. “Parikh identified one tabulator that was used to close out 15 tabulator machines from 12 different locations. In addition, the poll closing time and report printed times on several closing tabulator tapes were close enough in time that Parikh believed someone had to have manipulated the times on the reports,” Evans wrote. “Parikh believed this showed that the memory cards were removed from the original tabulator and put in another tabulator to print out the closing tabulator tapes.”

The tabulators also have “protective counters” that track how many ballots have been scanned on them over their lifetime. “The protective counters on at least five tabulator tapes from the same unit were identical,” Parikh found, according to Evans. “Some of the reported ballots scanned exceeded the protective counter number.” “This indicated to Parikh that no ballots were ever scanned on these machines and that the numbers generated from those ballots were done so by placing an unencrypted memory card into the unit to generate the closing tape,” Evans wrote. “This would have allowed an opportunity for the tabulation to be tampered with.”

The tabulators are supposed to scan each ballot, creating a digital record. But the majority of the images from the original in-person voting count have not been preserved by the county, Evans said. At the time, the county was not legally required to preserve them, but it’s not clear why they were discarded to begin with. “This is another impediment to ruling out non-criminal explanations for the activities during the election,” the affidavit said.
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With the oldest and lamest trope imaginable: “Trump is marching America towards fascism.”

Democrats Double Down on SOTU Boycott (DS)

More Democrats are joining a boycott of President Donald Trump’s State of the Union address on Tuesday. Sens. Adam Schiff and Ruben Gallego recently joined the ranks of Democrat lawmakers over the weekend. “I am not going to the State of the Union,” Gallego said in a video posted to social media on Saturday. “There’s more productive things than I can do with my time than just sitting there for two hours and clapping on cue. Right now, this country is hurting.” Instead, the senator will be at home in Arizona during the address.


Schiff’s participation in the boycott was also announced on Saturday. MeidasTouch wrote on X that Schiff will instead speak at the “People’s State of the Union,” a counter address hosted by the news outlet and progressive-aligned nonprofit MoveOn Civic Action.

Democrats announcing their boycott of the State of the Union comes after progressive-aligned organizations, like Amplify Edge’s “Young People Address the Nation” campaign, pressured Democrat lawmakers last week to boycott the address. As the boycott grows, the left-leaning sports and political commentator Stephen A. Smith has come out against Democrat theatrics. Smith said on his SiriusXM radio show that the Democrats’ refusal to attend the address “ticks him off,” calling them “juvenile.” “Why do they get to circumvent the need and the insistence of mere decorum? This is the kind of stuff that ticks me off,” Smith stated. “At some point in time, ladies and gentlemen, there’s got to be an adult in the room.”

https://twitter.com/JasonJournoDC/status/2024450693252219275

“If you’re going to act as juvenile, as petulant, as petty as you accuse president of the United States to be, how are you ever going to hold a high moral ground at least high enough to judge him accordingly?” Smith added. During Trump’s address to Congress last year, some Democrats tried to steal the show. Rep. Al Green, D-Texas, interrupted the speech with shouts and gestures several times before he was removed from the chamber.mSchiff’s RSVP to the event hosted former MSNBC anchors Joy Reid and Katie Phang comes after 12 of his congressional colleagues—including Sen. Chris Van Hollen, D-Md.; Rep. Delia Ramirez, D-Ill.; and the chairman of the Congressional Progressive Caucus, Rep. Greg Casar, D-Texas—announced last week that they would not “legitimize” Trump’s “lies.”

“Donald Trump will use the State of the Union address as a platform to gaslight the American people and normalize and justify their terror, abuse, and violations of our rights. I refuse to legitimize it,” Ramirez stated in a release. Van Hollen added on X that this “cannot be business as usual” because “Trump is marching America towards fascism.”

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“So, they’re paying 55% of their income and nobody ever says, “Thank you for doing that, you people, we have a very skilled elite that allows us to have this huge budget.”

‘You Owe Us’ Is the Mantra of the Left (Victor Davis Hanson)

Sami Winc: Two things that came together for me. One was [New York City Mayor Zohran] Mamdani’s 9.5% increase in the property tax for New Yorkers, but not that alone. I’m sure our audience has read about that. But I was looking at Power Line. I always like to give a shout-out to them because they have some great articles, and they were comparing New York State’s budget versus Florida’s budget. And they came up with, well, it’s only half at the state level. So, I thought, well, let’s look at the city level, New York City versus Miami. And while the billions that each of them has to spend is not meaningful in and of themselves. So, for example, New York City’s budget is $127 billion while Miami’s is only $3.4. But that being said, per citizen, what has to be paid into these cities? And so, for Mamdani, each of his citizens has to pay $14,431 in for his budget. And in Miami, it’s just half of that, at just under $7,000 per citizen.


Victor Davis Hanson: And it’s more disproportionate because in New York, the number of people who are actually paying taxes is a much smaller percentage than in Miami. He inherited the city that was this blue-chip financial market, this cultural, financial capital of the world, and the first thing he did was raise spending by $11 billion. Second thing he did was prove that he couldn’t get the trash or the snow off the street during the storm. Third thing he did, it was very hard to find an appointee who somewhere in their dark history had not issued or written something antisemitic. All he does is smile and try to be … basically, his message is: I’m not Lenin, and Trotsky or Stalin. I’m the nice, happy-faced communist, and you’re going to like me, and you’re going to like my communism. We’re all going to get along.

I mean, if you’re in New York, if you’re in California, you got a choice. If you’re in California and this billionaire tax passes, and you’ve got to come up with $50 million, you’re going flee. If you’re in New York, and they’re going to raise your property tax on these multimillion-dollar buildings, you’re talking what could be $20 or $30, $40, $50 million more a year, then you’re going to flee, get out. If you don’t, they’re just going to keep doing it. They’re going keep targeting you because they have an idea. I don’t think people realize that. nThe socialist mind … I knew a lot of socialists in the universities and some friends of mine, and they always think … The whole core of socialism is, I work hard, and no one knows how I suffer at my job as a nurse, as a farmer, whatever. And I believe in the labor theory of value.

Why is it that when Victor had a Ph.D. but he was pruning vines, he was only making $4 an hour—I was for three years—and then all of a sudden, five years later, he is an academic, and he is sitting in between classes and having coffee and he’s making $50 an hour. That’s not fair. And so, they don’t think about supply and demand, expertise, education, nothing. And somebody would say, “Well, when Victor was pruning vines, a lot of people could not only prune them, they could probably prune them better.” When he was teaching a particular Greek literature class, and they thought that was an important class to offer. Questionable, but that’s what they said. Very few people could do it. They don’t accept that.

And so, they run on this envy that we work hard, and we get up, and we do things, and therefore we should be compensated. And that’s what a socialist is, and they’re going keep raising taxes. The other thing about it is, when they raise taxes, they don’t ever say thank you. California Gov. Gavin Newsom, Rep. Nancy Pelosi, even former Sen. Dianne [Feinstein], they’re all wealthy, but they never said, “We want to thank the people in California that are the 1% that are paying 50% of the income tax.” And by the way, the 50% of the income tax in California, there’s only about, I don’t know what there is, 250 billionaires? They usually pay capital gains tax. They pay at about, I don’t know, 28%. The people in that 1% of Californians are highly compensated professionals and small businesspeople who make a million or two million, three million dollars, and then they get hit with a 13.3% tax rate, plus their federal plus Medicare.

So, they’re paying 55% of their income and nobody ever says, “Thank you for doing that, you people, we have a very skilled elite that allows us to have this huge budget.” They don’t. The attitude is always, “They have to. They have to pay more.”

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The Pentagon clashed with rival contractor Anthropic over ethics limitations on its tech … Still, not an rexclusive deal. ChatGPT, Gemini et al are there.

US To Integrate Musk’s Grok AI Into Classified Military Systems (RT)

The US Department of War has reportedly signed an agreement with Elon Musk’s xAI to integrate its Grok chatbot into classified military systems, escalating pressure on rival contractor Anthropic as it refuses to lift safeguards on its Claude model. The deal, first reported by the New York Times and confirmed by Axios on Monday, would make Grok the second AI system approved for use on the military’s most sensitive networks, where intelligence analysis, weapons development, and battlefield operations take place. Until now, Anthropic’s Claude has been the sole model available on classified platforms, through a partnership with Palantir Technologies.


The agreement comes as Secretary of War Pete Hegseth summoned Anthropic CEO Dario Amodei for what sources expect to be a tense meeting at the Pentagon on Tuesday. According to Axios, Hegseth is expected to present an ultimatum: agree to make Claude available for “all lawful purposes” without additional safeguards, or face consequences including potential designation as a “supply chain risk” – a label typically reserved for entities linked to foreign adversaries.


https://twitter.com/iam_smx/status/2026100949618442296?s=20

Anthropic has resisted Pentagon demands to remove restrictions that prevent its technology from being used for mass surveillance of Americans or deployed in fully autonomous weapons systems with no humans in the loop. xAI has reportedly agreed to the demands, but the company has yet to comment on the reports. Google is also reportedly “close” to a deal allowing classified use of its Gemini model, according to people briefed on the discussions, while OpenAI remains “not close” as it continues working on safety technology.

Pentagon officials acknowledge that replacing Anthropic within its classified systems could cause short-term disruptions. The model was used during the operation to capture Venezuelan President Nicolas Maduro last month – the first known instance of AI playing a direct role in an active military raid. Anthropic has positioned itself as the safety-conscious alternative within the AI industry. CEO Amodei has repeatedly warned of the existential dangers posed by unconstrained artificial intelligence, including “autonomy risks.” The company’s Safeguards Research Team lead, Mrinank Sharma, abruptly resigned last week with a cryptic warning that “the world is in peril.”

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And they did.

Trump, Along With Democrats, Will Make Their Case Tuesday at State of the Union (JTN)

President Donald Trump is set to deliver his State of the Union Address Tuesday evening, when he is expected to highlight his accomplishments during his first year back in office and spotlight goals for the coming year. During an event at the White House Monday morning, Trump teased that his address is “going to be a long speech, because we have so much to talk about.” The president is expected to tout his accomplishments over the last year, highlighting tax cuts, lower gas prices, a dramatic decline in illegal border crossings, lower crime rates, lower drug costs, international peace deals, and trade deals – despite presiding over the longest government shutdown in history.


Trump’s address comes as the federal government is in the midst of a partial shutdown that is affecting the Department of Homeland Security. Several Democratic lawmakers have announced their intention to boycott the address; it’s unclear if other Democratic lawmakers will protest the president in the House Gallery. Last year, several held paddles to make statements. The president will likely make the economy one of his top priorities, highlighting the passage and signing of the Big, Beautiful Bill last summer. In briefings and news conferences, Trump and his administration often point to higher tax credits and a tax break for tipped workers as well as a healthy stock market, as evidence that his economic policies are winning.

Among the top issues Trump will likely spotlight are crime and immigration. During the past year, the president has deployed the National Guard to select major U.S. cities, including Washington, D.C., to tackle crime. The president will likely spend part of his speech trying to sell his economic agenda, including his use of tariffs. Trump could also use the opportunity to push his Senate Republicans to eliminate the filibuster to pass key legislation, such as election security measures. While Trump will likely point to lower gas prices and lower taxes, Democrats have been pushing affordability.

Democrats have tapped newly inaugurated Gov. Abigail Spanberger, D-Va., to deliver the Democratic response to Trump’s address Tuesday night, with Sen. Alex Padilla, D-Calif., to deliver a Democratic response in Spanish. The address comes ahead of a critical mid-term election, where both Republicans and Democrats have a lot riding on their messaging. It’s unclear who the president will be hosting in the gallery Tuesday evening. However, multiple reports indicate that the men’s U.S. hockey team, which just brought home the gold, has been invited to attend.

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“.. How much is she being paid, and for what???“

Netflix’s Stock Plunges After Refusing to Fire Susan Rice (Bryan S. Jung)

Netflix’s stock plunged after its refusal to fire former senior Obama and Biden official Susan Rice from its board, following her threats of retribution against supporters of President Donald Trump under a future Democrat administration. Rice was national security adviser and U.S. ambassador to the United Nations under former President Barack Obama, and later served as a senior advisor in the Biden White House. She returned to Netflix’s board in 2023 after leaving her role as director of the Domestic Policy Council in the Biden administration. Rice boasted during a podcast last week that “it is not going to end well” for corporations, news organizations, and law firms that “bent the knee” to Trump, claiming that their deference to the president is unpopular.


She said that firms aligned with Trump could face an “accountability agenda” if Democrats return to power, stating, “This is not going to be an instance of forgive and forget.” “I think they’ve got another thing coming … they’re going to be surprised. Democrats have had a bellyful, and we’re not going to play by, you know, the old set of rules,” added Rice. Trump has since demanded that Netflix fire Rice and warned the company to get rid of Rice or “pay the consequences.” “Netflix should fire racist, Trump Deranged Susan Rice, IMMEDIATELY, or pay the consequences,” Trump wrote on Truth Social over the weekend. ”She’s got no talent or skills – Purely a political hack! HER POWER IS GONE, AND WILL NEVER BE BACK. How much is she being paid, and for what???“

The streaming service is currently in the midst of a bidding war with Paramount Skydance Corp. to acquire Warner Bros. Discovery Inc., excluding the company’s cable networks, including CNN, which the White House has the power to scuttle altogether. Netflix’s $72 billion bid for Warner Brothers Discovery requires regulatory anti-trust approval from the U.S. Department of Justice, which is scrutinizing the deal during this latest political controversy. Paramount Skydance launched a hostile takeover bid for all of Warner Bros. Discovery, promising shareholders $30 per share in an all-cash deal.

Netflix co-CEO Ted Sarandos has so far refused to fire Rice and told the BBC that the acquisition is a “business deal, not a political deal.” “He [Trump] likes to do a lot of things on social media,” Sarandos said, according to the BBC. Sarandos added that regulatory bodies, not the White House, should make a decision on the deal. The Wall Street Journal reported earlier this month that the DOJ is investigating whether Netflix’s takeover of Warner Bros. Discovery could hurt competition and whether the streaming service’s previous acquisitions may have affected the industry’s creative talent.

The streaming giant has been accused of anticompetitive tactics in negotiations with independent content creators for acquiring programming, reported Bloomberg.It is unknown if the decline in Netflix’s stock price at market open reflected investor concerns over political interference in corporate governance, but the media company’s shares tumbled Monday before slightly recovering at $76.02 per share at closing, a 3.37% loss.

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Let Elon Musk reorganize US space programs.

We Need to Talk About Artemis (Stephen Green)

We need to talk about NASA’s Artemis program to get the U.S. back to the Moon because things can’t continue like this.The initial reports of last week’s Artemis 2 wet dress rehearsal (WDR) made it sound like the hydrogen leaks were acceptable and our first manned mission around the Moon would be good to go for launch during the first week of March. That was Thursday evening. Friday’s midday press conference was all happy talk about how well the WDR went.Before anyone at NASA had time to grab lunch on Saturday, agency chief Jared Isaacman revealed that “overnight data showed an interruption in helium flow in the SLS interim cryogenic propulsion stage,” and “teams are troubleshooting and preparing for a likely rollback of Artemis 2 to the VAB [NASA’s massive Vehicle Assembly Building].”


Easy fixes are performed outdoors, right there on the launch pad. Trickier fixes require a slow journey back to the VAB on NASA’s tracked Crawler-Transporter 2 (CT-2). As it turns out, Artemis 2 requires one of those trickier fixes. So much for that March launch window. Now it’s “fingers crossed!” for early April, depending, of course, on how long it takes to find and fix whatever went wrong during last week’s WDR. Here’s the thing to remember about the SLS rocket that by law must launch at least the first three Artemis missions: This is as good as it gets. Leaks, delays, regular trips on CT-2 to and from VAB? That’s the norm for SLS. As discussed in a couple of previous columns, each SLS is a unique snowflake.

Earlier this month, space reporter Eric Berger asked NASA’s top civil servant, Amit Kshatriya, about the SLS’s issues and low flight cadence. “Every time we [try to launch] these are very bespoke components, they’re in many cases made by incredible craftsmen,” Kshatriya replied. “It’s the first time this particular machine has borne witness to cryogens, and how it breathes, and how it vents, and how it wants to leak is something we have to characterize.” nIn other words, figuring out how to correct the hydrogen leak on the Artemis 1 SLS rocket taught NASA very little about the leaks it might encounter on the Artemis 2 rocket. Or what leaks NASA will find on Artemis 3 two years from now. Or maybe three.

The Artemis program was designed during the first Trump administration, using existing hardware with the hope of getting us back to the Moon by 2024. Now NASA claims 2028. 2030 might be more realistic. So whatever the original hope was, it hasn’t materialized. And at $4 billion-plus per SLS, everybody (including high-ranking NASA people) understands that SLS is a dead end. My modest proposal is this: As Dr. Evil might say, a ONE BILLION DOLLAR prize for the first private company to put at least three astronauts on the lunar surface (leaving a fourth one in orbit to crew a command vehicle is fine, if needed) near the southern ice resources. The landing mission must also include a “useful” amount of cargo for at least getting started on a permanent habitat.

The crew must also return safely to Earth, naturally. A billion dollars is a lot of money. But it’s also a little less than 25% of the cost of a single SLS rocket, not including everything else that goes into a manned NASA mission. Just on rockets alone, taxpayers would stand to save more than $7 billion on Artemis 2 and 3 — and at the SLS’s unpredictable launch cadence, we might even get to the Moon sooner.

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All the attention goes to the man formerly known as prince.

The 1,400 mass-raped girls? Not so much. Their story doesn’t sell. The press make sure of that.

Royal Theater, Silent Streets (David Manney)

Need an idea about how to start an argument between people in the UK? Mention a royal name alongside Jeffrey Epstein. That should get the fires started. The elite formerly known as Prince Andrew’s association with Epstein remains a global fixation — global if you mean England. Political editor and commentator Emma-Jo Morris recently highlighted how authorities moved aggressively in matters tied to Andrew Mountbatten-Windsor, while long-running grooming gang cases have dragged on for years without any similar feelings of urgency.


Andrew, formerly the Duke of York, stepped back from the spotlight after the crown stripped him of public and royal duties following his 2019 BBC Newsnight interview with Emily Maitlis, which generated massive political shockwaves. In America, Virginia Giuffre filed a civil lawsuit against Andrew, which was later settled. Because of the scandal, the Royal Family removed his honorary military titles and patronages. The Epstein story burned like hydrogen fueled by leaking inert helium gas and combusting front pages like the Hindenburg. Every development generated debate in Parliament and endless commentary across Britain.

Meanwhile, documented grooming gang scandals in towns such as Rotherham, Rochdale, and Telford revealed systematic sexual exploitation of young girls. In Rotherham alone, independent investigator Professor Alexis Jay concluded that around 1,400 children were abused between 1997 and 2013, while many of the perpetrators were identified as men of Pakistani Muslim backgrounds. Alexis Jay, who authored the report, used to be chief inspector of social work in Scotland. She’s seen a lot. But despite being deeply familiar with the details of this report, even she seemed shaken by the words coming out of her mouth at Tuesday’s press conference about the victims, some as young as 11, abused from 1997 until last year.

“It is hard to describe the appalling nature of the abuse the child victims suffered. They were raped by multiple perpetrators. They were trafficked to other towns and cities in the north of England. They were abducted, beaten and intimidated,” Jay said. Nine men in Rochdale were convicted in 2012 for grooming and trafficking underage girls.

The nine defendants were jailed for a total of 77 years, with the ringleader, a 59-year-old man from Oldham, who cannot be identified for legal reasons, receiving a 19-year term after being convicted of two rapes, aiding and abetting rape, sexual assault and trafficking for the purpose of sexual exploitation.Kabeer Hassan, 25, of Oldham, was jailed for nine years for rape and three years, concurrently, for conspiracy. Hamid Safi, 22, an illegal immigrant of no fixed address, was jailed for four years for conspiracy and one year, concurrently, for trafficking.Greater Manchester Police were criticized for earlier failures of intervention. The story remained the same in Telford, where an independent inquiry led by Tom Crowther KC discovered that as many as 1,000 girls may have been sexually exploited over decades.

In his closing comments, Telford added: “People will not forget Telford’s history of child sexual exploitation – and nor should they. But in my view Telford’s approach – the Council’s approach – to the Recommendations, to engagement with its key partners and most of all with those three people it let down as children, now stands as a model. All involved – but particularly the Consultees, who put aside hurt and anger and years of being dismissed in order to ensure that next generations are better protected than they were – deserve our very high praise.”

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“.. we see European leaders attacking their own European “allies” through the use of Ukraine. If you do not support the continued bloodlust, you are an enemy of the EU collective hive mind”

Ukraine (EU) Strikes Russian Oil Pumping Station (CTH)

The Ukraine military, technically and non-pretendingly accepted as the EU military, has targeted a key oil pumping station in Russia that feeds into the westerly directed oil supply. However, if you stand back from the western media, what you will notice from this attack is not the target in Russia, but the customers at the end of the pipeline in Europe, mainly Hungary and Slovakia.


[…] Through local stations, including infrastructure around Kaleykino, oil from Tatarstan and neighboring regions feeds into the main pipeline, which runs through the Samara region and continues westward toward Belarus and further to countries in Eastern and Central Europe. […] There were also earlier reports that Ukrainian forces carried out several attacks on Druzhba pipeline infrastructure inside Russia, which at times disrupted Russian oil supplies to Hungary and Slovakia. {source}


So, what’s going on here?Well, with the anniversary of the Russian Federation beginning the war into Ukraine, the Europeans who now control the military operations inside Ukraine are targeting European countries who do not align with their bloodlust, specifically Hungary and Slovakia. Both Hungary and Slovakia are land locked countries without easy access seaports. Because of their geographic locations, they rely on Russian oil and gas for their energy needs. Hungary and Slovakia have not wanted to expand the war against Russia. The EU is demanding Hungary and Slovakia agree to expanded war. The European ‘coalition of the willing’ is now targeting key Russian infrastructure that supplies energy products to European countries who are not in compliance with the EU dictates of war.

Putin says threats to energy pipelines sabotage peace process with Ukraine. In his televised speech, the Russian president also accused Ukraine of threatening Russian energy pipelines with the help of Western intelligence agencies. He claimed these attacks were aimed to sabotage the peace process. Putin also stressed it was vital for Russia to strengthen the defence of energy infrastructure and other strategic sectors. {source} This is why Secretary of State Marco Rubio travelled to Hungary and Slovakia last week. Essentially, now we see European leaders attacking their own European “allies” through the use of Ukraine. If you do not support the continued bloodlust, you are an enemy of the EU collective hive mind.

https://twitter.com/DD_Geopolitics/status/2026291115100418176?s=20 Read more …

Ukraine blocks the flow of Russian oil to Slovakia, but still expects Slovakia to send it power.

Slovakia Halts Electricity Supplies To Ukraine (RT)

Bratislava has stopped providing emergency electricity supplies to Ukraine until Kiev restores the flow of Russian oil to Slovakia through the Druzhba pipeline, Prime Minister Robert Fico has said, warning of “further reciprocal steps.” The prime minister made the announcement on Monday, when the ultimatum he issued over the weekend to Kiev to resume operations of the Soviet-era pipeline expired. The Druzhba pipeline, which connects Russia to Slovakia and Hungary, has been out of commission since late January. Kiev claims it was damaged in Russian strikes, which Moscow denies. Both Slovakia and Hungary have accused Ukraine of deliberately withholding supplies for political reasons and threatened retaliation.


Announcing the halt to electricity supplies to Ukraine, Fico reiterated that Ukraine’s actions were a “purely political decision aimed at blackmailing Slovakia.” “Reciprocity is a fundamental rule in international relations. The government’s first response to the hostile acts of the Ukrainian president in the form of stopping emergency electricity supply is therefore entirely appropriate,” Fico stated, warning of “further reciprocal steps” if oil supplies are not resumed. Kiev has been increasingly reliant on electricity imports to stabilize its power grid, which has been battered by Russian strikes on Ukraine’s dual-use infrastructure. According to Fico, Ukraine received twice as much electricity from Slovakia this January as it did throughout 2025.

The retaliatory move came hours after Hungary vetoed the EU’s latest sanctions on Russia, as well as a proposed €90 billion ($106 billion) emergency loan for Ukraine. Budapest tied the double veto to the Druzhba standoff, accusing Kiev of imposing an “oil blockade” on the country and “blackmailing” it. Last week, both Slovakia and Hungary announced that they would suspend diesel exports to Ukraine until the Druzhba pipeline becomes operational again. Budapest has also mulled cutting emergency electricity supplies to Ukraine.

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“Budapest has also opposed the bloc’s proposed 20th package of sanctions against Russia amid an oil supply row with Kiev..”

Hungary Vetoes €90 Billion EU Loan For Ukraine (RT)

Hungary has blocked the EU’s proposed €90 billion ($106 billion) emergency loan for Ukraine, as well as the latest package of sanctions on Russia, citing Kiev’s allegedly deliberate disruption of oil supplies to the country. Hungary placed the double veto on the initiatives on Monday as Kiev and Budapest remain locked in a bitter row over the Soviet-era Druzhba oil pipeline – which carries Russian crude to Hungary and Slovakia and has been out of commission since late January. Kiev claims that it was damaged by Russia, which has denied the allegations. Budapest has echoed Moscow’s stance, accusing Kiev of deliberately withholding supplies for political reasons and subjecting the country to an “oil blockade,” and threatening retaliation.


“Ukrainians cannot blackmail us; they cannot jeopardize the security of Hungary’s energy supply by colluding with Brussels and the Hungarian opposition. No, a clear no,” Hungarian Foreign Minister Peter Szijjarto said after a meeting of the bloc’s top diplomats to discuss the loan and sanctions package. EU foreign affairs chief Kaja Kallas said the bloc’s leadership expected the measures to be approved at the meeting, adding that it was a major setback and a “message we did not want to send today.” The €90 billion loan was agreed to in December, when Hungary, Slovakia, and the Czech Republic secured an opt-out scheme, allowing them to not contribute to the scheme financially.

Hungary, as well as the other nation affected by the oil supply disruption, Slovakia, has threatened retaliation over the Druzhba issue, demanding that Kiev resume its operations immediately. Last week, both countries announced that they would suspend diesel exports to Ukraine until the pipeline becomes operational again. This weekend, Slovak Prime Minister Robert Fico also threatened to stop providing Ukraine with emergency electricity supply unless Kiev restores oil deliveries within two days. Fico said on Monday that he will keep his promise, raising the issue with the nation’s electricity provider. In January alone, Kiev received more emergency electricity from Slovakia than throughout 2025 to stabilize its energy grid amid Russian long-range strikes, he noted. https://twitter.com/HungaryBased/status/2026333804428705922?s=20

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“We don’t hate Ukraine. The problem is that the Ukrainian state hates Hungary..”

Ukraine Hates Us – Hungary (RT)

Hungarian Foreign Minister Peter Szijjarto has rejected accusations that Budapest hates Ukraine, suggesting that it’s Kiev that’s been pursuing hostile policies toward his country for years. The remarks came in response to questions from reporters on the sidelines of the EU Foreign Affairs Council, as Hungary threatened to veto the bloc’s latest sanctions package against Russia. When one journalist confronted Szijjarto, suggesting that Hungary should direct its ire at Moscow, the minister offered a scolding response. “We don’t hate Ukraine. The problem is that the Ukrainian state hates Hungary,” Szijjarto said, accusing Kiev of undermining Budapest’s energy security by blocking crude oil supplies via the Druzhba pipeline, among other issues.


At the heart of the dispute is the Soviet-era Druzhba pipeline, the main artery carrying Russian crude to Hungary and neighboring Slovakia. As landlocked countries in Central Europe, both are heavily dependent on it. Another journalist charged that Hungary’s Russian oil purchases mean Budapest is “financing the war.” Szijjarto dismissed the claim, pointing out that the value amounts to a mere 0.2% of Russia’s gross domestic product. Later in the day, Hungary followed through and vetoed the sanctions package. Szijjarto said that Budapest would consider lifting its block only when Ukraine resumes oil flow via the Druzhba pipeline. Previously, Budapest halted diesel supplies to Ukraine and threatened to cut off electricity and natural gas.

When the oil flow stopped in late January, Ukraine blamed a Russian airstrike. Moscow, however, insisted that Kiev was using energy as leverage to blackmail the two EU countries, which have been critical of the bloc’s support for Ukraine. The diplomatic dispute between Hungary and Ukraine has escalated in recent weeks, spilling over into personal jabs. Ukraine’s Vladimir Zelensky launched a string of attacks against Hungarian Prime Minister Viktor Orban, including fat-shaming him during the Munich Security Conference earlier this month.

Orban, a vocal critic of EU support for Kiev, responded by saying Zelensky’s comments demonstrate why Ukraine “cannot become a member of the European Union.” The Hungarian prime minister has long opposed Ukraine’s push to join the bloc and has repeatedly refused to send it weapons or approve EU military aid, calling for diplomacy instead.

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Between Novichok and Navalny, we’ve come to know we cannot trust one single word from the British government.

And that’s how we also know that Russia did NOT kill Navalny.

The New Navalny Poison – This Swedish Disinformation is a British Lie (Helmer)

The Swedish Government has admitted it has no direct evidence of the cause of Alexei Navalny’s death – only British Government hearsay.In a series of email exchanges last week, the Swedish Foreign Ministry has revealed that its military laboratories and scientific establishments have not received post-mortem samples of Navalny’s tissues. There has been no Swedish analysis of the toxicology of those samples. There is no Swedish documentation proving in the toxicology of the Navalny samples epibatidine poisoning as the cause of Navalny’s death on February 16, 2024. Forensically speaking, the Swedish Government does not know — cannot know — if Navalny died of natural causes or was poisoned to death. Ten days ago, however, on February 14, the Swedish Government signed with four other states – UK, Germany, France and The Netherlands – an announcement of fact and allegation of murder it had no intention to verify.



“The UK, Sweden, France, Germany and The Netherlands are confident [sic] that Alexei Navalny was poisoned with a lethal toxin,” the statement declared. “This is the conclusion [sic] of our Governments based on analyses [sic] of samples from Alexei Navalny. These analyses have conclusively [sic] confirmed the presence of epibatidine. Epibatidine is a toxin found in poison dart frogs in South America. It is not found naturally in Russia. Russia claimed that Navalny died of natural causes. But given the toxicity of epibatidine and reported symptoms [sic], poisoning was highly likely the cause of his death. Navalny died while held in prison, meaning Russia had the means, motive and opportunity to administer this poison to him.”

Sic is the old Latin adverb manuscript which editors traditionally used to mark an original word or term that applied to a surprising claim, faulty reasoning, fabrication, or falsehood which the reader might otherwise interpret as a mistake of transcription. No mistake here by the Swedes – this wording is their cover for not being caught at a provable lie. An investigation in Stockholm by lawyer Mats Nilsson, based on Swedish freedom of information law, has produced the record to show that the only conclusion the Swedish Government has reached is to accept that Porton Down, the British Government’s chemical warfare laboratory, which synthesized epibatidine at least a decade ago and has accumulated operational stocks since then, has reported the discovery of that poison in the Navalny samples.

However, the British Government has not transferred these samples to Sweden for investigation. The Swedish Government’s chemical warfare laboratory at Umeå does not confirm it has either received the samples, or analysed them, or reported any findings. Instead, a series of emailed answers from the Swedish Foreign Ministry’s Disarmament Non-proliferation and Export Control (NIS) Unit has repeated the February 14 joint statement allegations. When requested to substantiate them, the Ministry has added a series of disclaimers:

“we will not comment on the details regarding how the samples were obtained. What we can say is that we have high confidence in the integrity of the process… We will not comment on the details of the entities involved in the forensic investigation… We will not comment on the exact details of the identification process. We will not comment on the details regarding how the samples from Navalny were obtained. What we can say is that we have high confidence in the integrity of the chain of custody.”

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https://twitter.com/JimFergusonUK/status/2026006356918992965?s=20 https://twitter.com/Rainmaker1973/status/2026541355820831115?s=20

 

 

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Mar 092024
 


Eugène Delacroix Femmes d’Alger (Women of Algiers) 1834

 

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Biden Parachutes TV Dinners Into Gaza. Sounds Absurd? It Is (SCF)
DC Court Greenlights Flurry of Jan. 6 Lawsuits Against Trump (ET)
Trump Coughs Up $91 Million Bond, Appeals E. Jean Carroll Defamation Suit (ZH)
Jan 6 Comm. Hid Exonerating Evidence Of Trump’s Push For National Guard (Fed.)

 

 

 

 

Agenda 47

 

 

Brennan

 

 

Rufo

 

 

 

 

OMG
https://twitter.com/i/status/1765912315805757637

 

 

RFK

 

 

 

 

Alex Jones
https://twitter.com/i/status/1765964006924427490

 

 

Mike Benz Assange

 

 

 

 

“..Kennedy is flirting with attempting to get the Libertarian nomination, and the Libertarian party has ballot access for the Presidential ticket in all 50 states..”

And Now There (Really) Are Two… or Three (Denninger)

Haley is out and IMHO good riddance. She was wildly more-dangerous than Victoria Nuland, who is also leaving and there is speculation that’s because an FOIA was filed for records that could implicate her in the Lira’s torture and death in Ukraine; he was of course a very loud critic of Nuland’s views and US Ukraine policy, which got him jailed for what in the US would be considered Constitutionally-protected free speech. I don’t know if Nuland had anything to do with it or not but that’s she’s out is good — what’s not disputable is that pretty-much the entire Ukraine policy since 2014 has been hers, including our sponsorship of Maidan. The destruction there in both material and people is hideous and as with Madame Albright’s myopic view of international relations born of her roots Nuland’s position appears to be equally-driven by personal animus. In my view both should have been jettisoned as soon as that became apparent, but obviously neither was.

That Haley had no path was known a couple of months ago, but eventually no matter how stubborn you are in the face of facts the money runs out because modern politics requires a lot of it, and the people spending it see it as a prop bet with a potential return. When the odds get long enough they stop paying and you stop running, like it or not. This of course means that with Biden being the incumbent and political party doctrine being that sitting Presidents with another term available may not be challenged in the primary it is now a two person race. Well, sort of. There are rumors flying around that Kennedy is flirting with attempting to get the Libertarian nomination, and the Libertarian party has ballot access for the Presidential ticket in all 50 states. Despite his policies being pretty much anything but Libertarian the party, of which I have decent internal knowledge of as I was elected to the EC in Florida, is very likely to embrace this move since it will both bring in money and, assuming he gets any material number of votes, and he will, further-cement their ballot position.

Politics makes for strange compromises sometimes and whether you like it or not that’s never going to change. While I wildly disagree with many of Kennedy’s views I might actually vote for him rather than write in Beelzebub or Cthulhu this November, should he run on the Libertarian ticket. I certainly can’t support Biden nor can I support Trump as on the critical issues facing this nation, all related to the rule of law, neither has delivered anything than a Bronx Cheer, albeit aimed in different directions and to the benefit of, in some cases, different people. I will remind everyone that 8 USC §1324 has been around since long before either Trump or Biden was President and that the Executive, of which the President is the head, has the Department of Justice, AG and FBI under same.

Further, every federal officeholder takes an oath to uphold the Constitution and laws of the United States, including the ones they personally disagree with. There’s a process to change the law if you don’t like it and that process goes through Congress. Said law, were it to be enforced, would absolutely stop all of the illegal immigration games instantly and permanently as it lays out criminal felony penalties, including prison time of 5, 10, 20 and potentially life prison terms, for those who harbor or assist such immigration including those who employ said persons. Since both of the current “mainstream” candidates claim the situation is a critical problem (and I agree with this) but at the same time claim they don’t have the legal tools to deal with it and that is absolutely a lie I will not vote for either of them.

The same applies when it comes to monopolist practices riven through our economy, most-critically in health care as that has the largest impact on the Federal and State budgets. Again, 15 USC Ch. 1 §1-3 makes clear that such conduct, even the mere attempt if it fails, is a criminal felony carrying prison penalties for each person who is engaged in same. That law has been challenged twice to the US Supreme Court in the late 1970s and early 80s (Royal Drug and Maricopa County) and found Constitutional both times. Nonetheless neither major political party has lifted a finger to bring a single criminal charge under that law — not in health care or in any of the other merger and consolidation activities in any industry. Now will Kennedy vow to bring said charges? That would be a reason to vote for him. Of course he might be lying, but then again he might not. I already know the other two have lied and nothing they can say now will cause me to believe them thus “might” beats “won’t.”

There are many who think our markets and economy will chug along through 2024 and that “its just fine.” I argue the data says otherwise; consumer credit has gone vertical, for example, and lates are rising quickly, including in car loans which are more-likely to get paid than a mortgage because without a car you’re not going to work and then everything goes down the toilet for you in your personal financial situation. Thus if you have to screw someone as you simply don’t have the money to pay the last person you usually screw is the car finance company. I’m not dancing in the streets, incidentally, that Trump is the presumptive nominee. The Supreme Court’s 9-0 decision on Colorado the other day probably won’t stop some from trying to interfere in the election, but the Court made quite clear that the decision as to who is President lies with the people as the States and other apparatus, other than through Congress, simply do not have jurisdiction to force a decision other than by individual votes at the ballot box.

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“Macgregor doesn’t go deep in the weeds on this, but what he describes as the economic and financial outcome is entirely accurate.”

Must watch video.

Col. Macgregor Response to Biden Speech Profoundly Accurate and Important (CTH)

The core targets within this information war are those who are talking about the entities who are controlling and directing the politicians and government. The voices who are considered a threat are not, repeat NOT, voices who are critical of government. The voices who are considered a threat are those who understand the government actors are controlled and intentionally presented as the false source of the problem. Just as Jack Smith is not the controlling entity organizing the targeting of Donald Trump, so too is Joe Biden (and the administration) not the originating entity who organized the Western sanction regime against Russia. Jack Smith and Joe Biden are essentially actors, vessels following a design that has been created by outside government entities for the purpose of targeting Donald Trump and/or Russia respectively. The bigger motives and intents of targeting both are essentially the same. There are trillions at stake.

Outside government actors like Mary McCord, Norm Eisen, Andrew Weissmann and crew are the organizers behind Jack Smith’s effort. They are the characters who coordinate with Fani Willis (GA) and Letishia James (NY). Those individuals are funded by outside government institutions. Ultimately, Jack Smith is the vessel. Within the Western finance system, Blackrock, Vanguard, the WEF and a host of similarly aligned massive financial interests are the organizers behind the Russian sanction regime. The USA government is the vessel. FOLLOW THE MONEY…. This is one of the reasons why the entire political establishment is behind support for Ukraine. Blackrock, Vanguard, State Street and a host of massive financial interests are the funding mechanism for U.S. politicians. The various Western governments and politicians are the vessels, not the originating sources of these policies. Macgregor doesn’t go deep in the weeds on this, but what he describes as the economic and financial outcome is entirely accurate.

Macgregor
https://twitter.com/i/status/1766089825273164037

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“Biden didn’t walk away from Ukraine. He ran away from there, straight into issues about domestic politics because it’s a campaign address, not a State of the Union speech..”

Scott Ritter on Biden’s SOTU: ‘America’s Running Away From Ukraine’ (Sp.)

“Instead of a State of the Union address, the US Congress and indeed the American people were treated to a rousing campaign speech which POTUS was using to kick off the 2024 presidential election campaign,” former US Marine Corps intelligence officer and independent military analyst Scott Ritter told Sputnik. Biden “is facing the presumptive Republican nominee, former US President Donald Trump, in what many expect to be a very hot, very controversial and heated contest for who will be the next president of the United States. Joe Biden let off this State of the Union address, this campaign speech, by speaking about Ukraine, and about Russia, and about Russian President Vladimir Putin,” Ritter said. Quoting POTUS as saying during the address that America “will not walk away from Ukraine,” Ritter noted that “in many ways, the 46th US president is right.”

“Biden didn’t walk away from Ukraine. He ran away from there, straight into issues about domestic politics because it’s a campaign address, not a State of the Union speech,” the ex-US Marine Corps intelligence officer insisted. He suggested that Biden hinted at the necessity of releasing the $64 billion funding package during the Thursday speech “because it’s tied to domestic American politics and perhaps the most contentious issue of the day, that is border security immigration reform.” The $64 billion package is “being held hostage by Republicans in the House of Representatives. […] If Biden isn’t going to change his approach to immigration, the Republicans aren’t going to release the money – Ukraine isn’t going to get the assistance it needs,” according to the analyst. “America’s running away from Ukraine. And that’s the reality,” Ritter argued, adding that “people need to understand” that the next months will see Biden “almost singularly focused on domestic American policy, trying to differentiate himself from Donald Trump.”

SOTU 2022 23 24
https://twitter.com/i/status/1766125803790794762

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“.. Biden is a “mad, mentally disabled individual who set his mind on dragging humanity to hell.”

Medvedev Calls Biden a US Disgrace (TASS)

US President Joe Biden should not have mentioned his predecessor Franklin Delano Roosevelt, because, unlike Roosevelt, he only disgraces the US, Russian Security Council Deputy Chairman Dmitry Medvedev said, commenting on the State of the Union address. “In the State of the Union address, Biden compared himself with Franklin Delano Roosevelt. That’s a so-so comparison. Obviously, not in his favour,” Medvedev said on his X page. ” He is the United States’ disgrace!” Medvedev pointed out that, even though the 32nd US President was an infirm man in a wheelchair, “he raised America from the Depression,” while Biden is a “mad, mentally disabled individual who set his mind on dragging humanity to hell.” In addition, the official continued, Roosevelt fought for peace together with allies, including the USSR, while “Biden is actively and persistently trying to start WWIII.” Finally, Roosevelt “was fighting against fascists, but Biden is fighting for them,” Medvedev concluded.

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“There is lie after lie. ‘Ukraine can stop Russia.’ No, it can’t. This has been going on for over two years. ‘NATO is stronger than ever.’ No, it is not … It was crazy talk..”

Tucker Carlson: Biden’s Address to Congress ‘Most Un-American Speech Ever (Sp.)

US journalist Tucker Carlson on Friday called President Joe Biden’s State of the Union address to Congress “possibly the darkest, most un-American speech” ever delivered by a US president, saying that it had been focused not on US’s national interests, but on pouring billions of dollars into military aid to Ukraine. “That was possibly the darkest, most un-American speech ever given by an American president,” Carlson said during a broadcast published on his X account, calling Biden a “cruel and vicious demagogue.” The US journalist described the president’s address as a “lie,” saying that Biden “quickly explained” that his top priority “has nothing to do with America” and was related to “sending billions more to Ukraine.” “There is lie after lie. ‘Ukraine can stop Russia.’ No, it can’t. This has been going on for over two years. ‘NATO is stronger than ever.’ No, it is not … It was crazy talk,” Carlson said.

Tucker Speaker
https://twitter.com/i/status/1766024481053552951

On Thursday, Biden delivered the State of the Union address to the US Congress. The speech comes amid Washington’s efforts to provide further aid to Ukraine for use in its conflict with Russia. However, some Republican lawmakers have called on Congress and the Biden administration to address border security before approving more foreign aid. The president called on the US Congress to pass a $118 billion foreign aid bill that includes border policy reforms. The bill was blocked by Senate Republicans last month over concerns it did not do enough to resolve the border crisis. Biden also said that his policies are designed to keep drug cartels and human smugglers from profiting off the border crisis.

CNN SOTU

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“..the second place in the State Department went not to the greatest hater of Russia, but to the greatest hater of China..”

Is This The Real Reason Why Victoria Nuland Quit? (Strokan)

According to Russian Foreign Ministry spokeswoman Maria Zakharova, Nuland was forced to resign because of the failure of Biden’s course on Russia. “This is a failure of the policy associated with Nuland, because she was the central figure who pursued a Russophobic policy towards our country, the whole story was tied to Nuland,” Zakharova said. According to her, the outgoing US deputy secretary of state was “not just a high-ranking representative of the State Department, but a key figure in US interagency cooperation.” “She was a coordinator of anti-Russian sentiment and anti-Russian policy by the United States, especially in the context of Ukraine. I can’t say that she was an ideologue. There are people out there who hate us more, but she really was a coordinator, she is associated with that policy. And that is how they said goodbye to her,” the Russian Foreign Ministry spokeswoman said. Meanwhile, a theory has emerged in Washington that Nuland’s resignation was the result of a power struggle in which she lost the race for the post of first deputy foreign policy chief.

Some pundits see a battle of narratives, with behind-the-scenes jockeying of personalities. All part of a dispute over the long-term shape of US foreign policy and its priorities. It should be recalled that after Wendy Sherman resigned last summer as US deputy secretary of state, her duties were carried out for six months by Nuland. At the end of last year, however, the White House made the unexpected decision to nominate Campbell, another veteran of American diplomacy, for the second post in the diplomatic service. Campbell, who does not have as big a name in the diplomatic world as Nuland, has made his career not in the Euro-Atlantic but in the Indo-Pacific region. “Ms. Nuland was considered the natural candidate to replace Ms. Sherman on a permanent basis. But Mr Blinken nominated Kurt Campbell, the former National Security Council representative for Asia,” the New York Times commented on the reshuffle.

James Carden, a former US State Department official, told RIA Novosti: “I was actually surprised that she lasted as long as she did. I realised her time was up when Kurt Campbell got the second-ranked job at the department.” In a Senate vote on 6 February, his nomination received broad bipartisan support: 92 senators voted in favour, with five voting against. “President Biden’s choice of Kurt Campbell signals a desire to continue the efforts begun by his predecessors decades ago to shift the focus of US foreign policy to China as the major challenge facing America in the future,” AP commented on the reshuffle. “Kurt Campbell played a key role in developing President Barack Obama’s ‘pivot to Asia’ into President Biden’s Indo-Pacific strategy,” Yuri Tavrovsky, chairman of the expert council of the Russian-Chinese Friendship, Peace and Development Committee, told Kommersant.

“In practical terms, he was particularly active in the creation of the anti-Chinese military bloc AUKUS (Australia, the UK and the US) and in strengthening the military component of the QUAD group (Quadrilateral Security Dialogue – Australia, India, the US and Japan,” Tavrovsky said. “The appointment of Campbell to the second-highest post in the State Department demonstrates the White House’s long-term course of containing China, despite words and gestures that look like a desire for reconciliation.” Thus, according to Mr Tavrovsky, “the second place in the State Department went not to the greatest hater of Russia, but to the greatest hater of China.”

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“I think he’s a true believer and actually believes that his status as Warlord-in-Chief helps him politically..”

Biden Tries to Blame Republicans for Coming Loss of Ukraine (Sp.)

President Joe Biden used his State of the Union speech to blame the Republicans if Russia wins the war in Ukraine by claiming Kiev could have won or survived if the latest $61 billion arms package had not been blocked in Congress, former State Department official and consultant on US-Russia relations James Carden said. “The way I heard the speech was Biden setting the ground to blame the Republicans for losing the war should they block further tranches of funding,” Carden told Sputnik. But Biden was still committed to his confrontational and warmaking policies in Ukraine, the Middle East and elsewhere around the world and showed no sign of wanting to change them, he emphasized. “I think he’s a true believer and actually believes that his status as Warlord-in-Chief helps him politically,” Carden explained.

Biden’s indirect admission that the planned next enormous military aid package for President Volodymyr Zelensky’s increasingly discredited regime in Kiev was blocked on Capitol Hill did not stem from any fundamental reassessment of US policy on backing Ukraine’s war against Russia, he said. Instead, Biden’s comments reflected his always primary concern with domestic politics and his obsession with getting reelected to a second term in November even though he is already 81 years old, Carden clarified. “The results coming out of Michigan, however, disprove his thesis,” Carden said.

Uncommitted voters in the US state of Michigan on Super Tuesday this week registered a protest against Biden and his policies, especially on foreign affairs, security and the invasion of Gaza. Some 100,000 voters, or 20% of those who participated in the Democratic primary alone, cast their ballots as “Uncommitted,” expressing a massive lack of support for the president in his own party with no other serious candidate to choose from. The $61 billion package is being blocked by Republicans in the House of Representatives until Biden changes his policies on illegal immigration and agrees to crack down on it. But because the president is determined not to change course on that, he will not get more aid approved for Kiev, his opponents have said.

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China starts being involved.

China Wants Russia At Ukraine Peace Talks (RT)

China and Switzerland are working behind the scenes to get Russia invited to proposed Swiss-hosted talks aimed at ending the fighting between Kiev and Moscow, the South China Morning Post reported on Friday, citing people familiar with the matter. Last month, Switzerland announced plans to organize a peace summit “by the summer.” No specific date has been named yet. The number of potential participants has also not been revealed. However, Ukraine indicated that Russia can only be invited if it agrees in advance to a litany of preconditions. According to the news website, China’s envoy for Eurasia Li Hui told EU officials that the summit “can’t be a conference that produces a plan that is pushed down the Russians’ throat.” The sources further told the publication that both China and Switzerland share a “pragmatic” view that the negotiations should not be just a formality.

Unlike many Western countries, Beijing has refused to blame Moscow for the outbreak of hostilities in February 2022, and has stressed that the conflict can only be ended through diplomacy. “The earlier the talks start, the sooner peace will arrive,” Chinese Foreign Minister Wang Yi told reporters at a CCP event in Beijing on Thursday. He added that “the absence of peace talks… may lead to an even bigger crisis.” China proposed a 12-point roadmap to peace in February 2023. The initiative was dismissed by Kiev. Ukrainian President Vladimir Zelensky has, in turn, insisted that a settlement can only be based on the 10-point ‘peace formula’ he unveiled at the end of 2022. Moscow has rejected Zelensky’s terms as unrealistic, arguing that it will never surrender Crimea, which joined Russia in 2014, or the four former Ukrainian regions that did the same in September 2022.

Ukraine and its Western backers have branded the accession referendums “a sham” and accused Russia of illegally occupying Ukrainian lands. They later said that peace can only be achieved on Kiev’s terms. Russian Ambassador to Switzerland Sergey Garmonin told local media in January 2024 that a peace summit without Russian participation would be “doomed to fail.” Moscow maintains that it is open to negotiations but on acceptable terms. According to the South China Morning Post, Chinese envoy Li told his EU counterparts that Moscow had two preconditions for talks – ending Western arms deliveries to Ukraine and the revocation of Zelensky’s 2022 decree that states negotiations with Putin are “impossible.”

https://twitter.com/i/status/1766184754456506811

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If Russia wanted Zelensky dead, he would be. And they sure wouldn’t kill a Greek PM as well, too messy.

“Do not betray… the memory of the Greek Resistance,” Zakharova urged Mitsotakis..”

We Will Not Be Intimidated By The Kremlin – Greek PM (RT)

The EU will not be intimidated by Russia and will continue to support Ukraine for “as long as it takes,” Greek Prime Minister Kyriakos Mitsotakis has said. Mitsotakis made the comment during his speech at the European People’s Party (EPP) conference in Romania’s capital, Bucharest, on Thursday, a day after his visit to the Ukrainian city of Odessa. During that trip, a Russian missile reportedly hit the port of Odessa 800 meters away from the motorcade in which Ukrainian President Vladimir Zelensky and the Greek PM were traveling. “I was in Odessa yesterday with President Zelensky when a Russian ballistic missile hit the port during our visit to the facility and I think we all have a message for the Kremlin: We shall not be intimidated,” Mitsotakis vowed.

He described the conflict between Russia and Ukraine as “Europe’s darkest hour,” claiming that the EU’s determination to back Kiev and place sanctions on Moscow was “maybe unexpected for some of our enemies.” Russian Foreign Ministry Spokeswoman Maria Zakharova responded to Mitsotakis’ statements in a post on Telegram on Thursday, insisting that “we [Moscow] never intimidated and aren’t intimidating anybody, including Greece.” She pointed out that Europe was not always the same throughout its history. “The Third Reich was also Europe. And for such a ‘Nazi Europe,’ we will always be an enemy,” the spokeswoman stressed. Zakharova recalled how during music lessons at her Russian school she used to study the works of Mikis Theodorakis, a legendary Greek composer most famous for Sirtaki dance music. “He, too, was an enemy of Europe, Nazi Europe,” she said.

Theodorakis was once a symbol of the resistance to the right-wing military dictatorship known as the Regime of the Colonels, which ruled Greece in the late 1960s and early 1970s. During that time, his music was banned; the composer was imprisoned for five months and eventually forced into exile. “Do not betray… the memory of the Greek Resistance,” Zakharova urged Mitsotakis. The EU has given Ukraine around 88 billion euros ($96.2 billion) since the start of the conflict in February 2022. Russian officials have repeatedly warned that the foreign aid provided to Kiev will not prevent Moscow from achieving the goals of its military operation, and will only prolong the fighting and increase the risk of a direct confrontation between Russia and NATO.

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“If you knew that your power, status and legitimacy emanated from supranational interests, to whom would it be natural to show your loyalty? To the people?”

Europe Is in Danger of Falling Asleep in Peace and Waking Up in War (Dinisio)

No wonder, then, that Ursula herself is so fervently anti-Russian and Atlanticist. Of course, between 1992 and 1996 she lived at Stanford (again Stanford) in California, where she studied economics. Poland’s own Donald Tusk was part of an Independent Students’ Association set up in 1980, financed by the same people as before, which aimed to subvert Poland’s then socialist regime from within the academy. Later, it was members of this truly “independent” “association” who, on the ground, supported the organization of the Orange Revolution in Ukraine. In other words, what we see in Ukraine today is the result of a wide-ranging project to break up and submit Europe to the neoliberal, hegemonic and imperial interests of the USA. This European “shield”, as we can see, is built by a group that functions almost like a secret society, endowed with deep internal cohesion, based on the narcissistic feeling of election, exclusivity and belonging to an elite group, trained to lead, trained to manage the supranational interests of the monopolist state par excellence, the USA.

Now, imagine yourself in a group of people who, in addition to the fact that many belong to the wealthiest classes or the political aristocracy, are also inculcated, through the countless institutional resources at their disposal, with the idea that they are part of a restricted group, placed above the common man, destined to decide on behalf of the monopoly interests that hire them. Imagine that, belonging to such an elite, the common mistake, which normally costs a career, honor and even life, for these people is nothing more than a setback on the way to the top. Put in a position like this, how would they behave? With a sense of responsibility? Or with a total sense of impunity? If you knew that your power, status and legitimacy emanated from supranational interests, to whom would it be natural to show your loyalty? To the people?

The way in which the U.S., and the monopoly interests that make up its system of power, have subverted any idea of strategic autonomy for the EU, throwing us all onto a front line that is not designed to protect our interests, but their own, has consisted of handing over high politics, not to the most experienced statesmen, the most emerging leaders of the masses, or the most capable and competent public officials, but instead to a socially isolated Spartan strain (only in terms of organization, not customs), made up of careerists, incapable of distinguishing between public and private, national or international interests. For them, the interests of public affairs are confused with their own, and their own with those of their sponsors. They are one and the same, in a vicious cycle in which who wins and who loses is determined from the outset.

And if the actions of this privileged, elitist, segregationist and exclusivist group in terms of the European economy have the results in plain sight, when it comes to foreign policy, their actions also show what project their loyalties are expressed for. Victoria Nuland came to Europe to demand a show of support and received it in the form of a Macron who, summoning all the European leaders to the Elysée Palace, tried to discuss the possibility of sending European troops to Ukraine. If it weren’t for Robert Fico, who apparently doesn’t see himself in this select group of yuppies, we wouldn’t know that the leaders in whom the people of Europe are supposed to trust are discussing, behind closed doors and behind the backs of the very democracy with which they fill their mouths, something like the fuse that could ignite a third world war. In other words, they are discussing among themselves the use of Europe as a shield for the American sword, with total contempt for those they claim to govern.

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“Western political leaders are only digging a deeper hole for their eventual collapse..”

Fearful Electioneering Turbo Charges Western Warmongering (SCF)

Western states are facing an acute political crisis whereby their established governing parties and leaders are fighting for survival amid a grave loss in legitimacy in the eyes of their electorates. In the United States, incumbent President Joe Biden is vying for reelection in November with historically lowest poll numbers ever for an occupant of the White House. Meanwhile, across the European Union, governing parties and leaders are braced for a drubbing from parliamentary elections in June. The roots of this unprecedented loss of legitimacy among Western political establishments are manifold. But surely one cause is the rank hypocrisy of Western leaders that has now been laid bare. How can political figures expect to have any moral authority when they are seen to be inveterate liars and shamelessly corrupt? Western governments and their servile media lecture about “democracy”, “human rights” and upholding “law and order”. They claim to be motivated by such principles in their support of Ukraine against alleged Russian aggression.

Yet these same governments are complicit in the genocide of Palestinians in Gaza through their unwavering support for the Israeli regime. Western leaders have been fatally exposed and compromised by the conflict in Ukraine and Gaza. The contradiction is terminal. That’s not just because of the blatant double standards and duplicity. Western voters are increasingly disgusted by the relentless financial and military support funneled into Ukraine to prop up a scamming regime comprised of NeoNazi ideologues. Under Joe Biden and the incumbent European politicians, the West has flooded Ukraine with weapons and hundreds of billions of dollars in what is the biggest war racket ever. This is while Western populations, workers, farmers, and businesses are hard-pressed with numerous social and economic burdens. Western governing parties are rightly seen as elitist and serving powerful minority oligarchic interests such as the military-industrial-corporate-financial nexus. Their declared vows about democracy are a contemptible joke.

The war in Ukraine is increasingly understood by voters to be a disastrous proxy war of choice that was pushed by U.S. and Western imperial objectives to confront Russia. Despite the squandering of public money to propagate the war, the U.S.-led NATO axis has lost its “great game”. The proxy war has devastated Ukraine, causing up to 500,000 military deaths in two years, as well as destabilizing the rest of Europe from increased migration, fiscal impact, deindustrialization, and the shattering of agricultural industries. Western populations are furious with their political leaders for having inflicted such chaos and waste of resources – as well as wantonly provoking tensions in international relations with Russia. Western politicians have pushed the world to the brink of an all-out war between nuclear powers. All this crazed folly is based on utter lies and deception – as the horror of Gaza and Western complicity illustrates. In this cauldron of electoral revolt, Western political leaders are only digging a deeper hole for their eventual collapse.

American President Joe Biden in his State of the Union address this week made a disingenuous pitch to voters. He portrayed the world as facing an existential crisis from Russian “tyranny” and simultaneously claimed the fate of US democracy was under threat from his election rival Donald Trump. In a dangerous and desperate move, Biden is conflating Trump with alleged Russian aggression. The Democrat president is fighting for political survival against Republican presumptive nominee Trump primarily because Biden is so deeply unpopular among American citizens. To boost his election prospects, Biden is making out that the country is facing an “inflection point” that requires rejection of Trump because he is “bowing down” to Russia. Trump and many within the Republican Party are opposed to continuing the proxy war in Ukraine, recognizing that it is futile.

Biden and the Democrats, who are more aligned with the U.S. foreign policy establishment, are therefore trying to make the election about an existential “defense of world democracy and peace”. Biden claimed in his State of the Union address that if the U.S. does not supply Ukraine with another $60 billion more in military aid then Russia will overrun the rest of Europe. Biden even invoked the memory of Roosevelt supposedly facing down Nazi Germany in 1941.

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“..Israel has the green light from this White House to commit the worst and most flagrant genocide since the Second World War..”

Biden Parachutes TV Dinners Into Gaza. Sounds Absurd? It Is (SCF)

It’s a classic American public relations stunt. All show and drama signifying nothing else. President Joe Biden ordered U.S. military transport planes to airdrop food aid into Gaza purportedly to save starving people. Well, they’re starving to death because the United States is supporting the genocidal siege by the Israeli regime of 2.3 million people for nearly five months. The situation is unprecedented, invoking the worst crimes of Nazi Germany. Babies dying in hospitals from lack of food and water. And all due to American support for the Israeli regime carrying out this genocide. But, hey, come on, drop those food parcels. It sort of looks good. The C-130 cargo planes throw bails of ready-made dinners into the sky, which slowly descend on parachutes to the desperate masses on the ground. It’s the kind of Hollywood narcissistic depiction of American greatness always riding to the rescue. Pass the popcorn and soda.

Only when you think about it, the whole airdrop mission is absurdly inadequate. The U.S. Air Force has parachuted in 38,000 dinners to Gaza so far, and more are reportedly on the way. That’s only crumbs for millions of people who are starving to death because the U.S.-backed Israeli regime has blocked the hundreds of food aid trucks that should be entering Gaza daily. When a trickle of aid deliveries are permitted on the ground, the Israeli military has opened deadly fire on hungry Palestinians clambering for relief. International aid agencies have slammed the airdropped relief supplies as an inefficient way to meet the dire humanitarian needs in Gaza. Besides, the real target of the Biden administration’s relief effort is the American people who are disgusted by the complicity of Washington in genocide.

The public relations exercise of parachuting food into Gaza is meant to appease the growing criticism of Biden’s White House. As Joe Biden squares up to Donald Trump in the U.S. presidential election this November, the incumbent Democrat is in real danger of losing. Biden’s poll ratings have been flagging anyway, and especially over the horrendous disaster in Gaza. Younger voters and Muslim Americans who would normally vote Democrat are alienated by Biden’s craven complicity in the Israeli siege of Gaza. For months, Biden has refused to call on the Israeli regime of Benjamin Netanyahu to implement a ceasefire and let humanitarian aid into Gaza. The U.S. has blocked three UN Security Council resolutions demanding a cessation of military operations. In recent days, however, U.S. Vice President Kamala Harris finally voiced support for a ceasefire. And then we see the American Air Force dropping off food supplies.

The belated moves are as cynical as they can get. They’re only motivated by Biden’s political need to bolster his electoral campaign. This week, it was reported that the Biden administration has secretly overseen over 100 separate weapons supply deals to Israel since it began its offensive on Gaza in October. Those sales amount to thousands of munitions including bunker-buster bombs, artillery shells, and other types of lethal ordnance. The transfers have been deliberately kept quiet by Biden owing to the potential public outcry. President Biden and his senior aides like Secretary of State Antony Blinken have refused to impose any conditions on Israel for the use of American weapons. Thus, Israel has the green light from this White House to commit the worst and most flagrant genocide since the Second World War. Not only merely permission but actual material support to enable the horror that has killed over 30,000 people – 70 percent of whom are women and children.

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They’re now saying he was campaigning on Jan 6, so no immunity.

DC Court Greenlights Flurry of Jan. 6 Lawsuits Against Trump (ET)

A federal appeals court in the District of Columbia has issued an order allowing three Jan. 6 lawsuits to proceed against former President Donald Trump after a court rejected his assertion of presidential immunity. A three-judge panel at the U.S. Court of Appeals for the District of Columbia Circuit issued an order on March 8, allowing the three consolidated appeals to be “removed from abeyance” and approving motions for summary affirmance, meaning removing a temporary hold on the cases and allowing them to proceed. The lawsuits that are now allowed to proceed are Moore v. Trump, Kirkland v. Trump, and Tabron v. Trump. In all three civil suits, law enforcement officers are seeking damages based on the premise that President Trump incited a mob to storm the Capitol, leading to a violent incident in which they sustained various injuries and suffered harm, including emotional distress.

President Trump has denied calling for violence on Jan. 6, pointing to remarks he made encouraging his supporters to demonstrate “peacefully and patriotically.” The judges noted in their March 8 order that the merits of the three parties’ positions “are so clear as to warrant summary action,” and that the cases can proceed based on a Dec. 1 appeals court decision in Blassingame v. Trump that President Trump is not immune to lawsuits over the Jan. 6, 2021, breach of the U.S. Capitol. In Blassingame v. Trump, the former president’s attorneys had argued that he should be granted immunity because his alleged actions around Jan. 6 amounted to official speech on “matters of public concern.” The judges’ reasoning in that case was that the former president’s actions leading up to and on Jan. 6 were part of his campaign for a second term in the White House and not an official presidential act.

“In arguing that he is entitled to official-act immunity in the cases before us, President Trump does not dispute that he engaged in his alleged actions up to and on January 6 in his capacity as a candidate. But he thinks that does not matter,” U.S. Circuit Judge Sri Srinivasan, appointed under President Barack Obama, wrote in the Dec. 1 ruling. “Rather, in his view, a president’s speech on matters of public concern is invariably an official function, and he was engaged in that function when he spoke at the January 6 rally and in the leadup to that day. We cannot accept that rationale.”

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$91 million just to have the right to appeal a ludicrous case.

Trump Coughs Up $91 Million Bond, Appeals E. Jean Carroll Defamation Suit (ZH)

Former President Trump posted a bond of $91.6 million on Friday while appealing the recent verdict in advice columnist E. Jean Carroll’s defamation lawsuit. “President Trump respectfully requests that this Court recognize the supersedeas bond obtained by President Trump in the sum of $91,630,000.00 and approve it as adequate and sufficient to stay the enforcement of the Judgment, to the extent that the Judgment awards damages, pending the ultimate disposition of President Trump’s appeal,” Trump attorney Alina Habba wrote in court filings. In January, Trump was ordered to pay Carroll $83.3 million for defaming her in 2019, when he denied sexually assaulting her three decades earlier. The decision came after a separate jury ruled that Trump was liable for sexually abusing Carroll, which led to him paying her $5.5 million in cash – which he’ll get back also if he wins on appeal.

Carroll, 80, testified that Trump’s lies destroyed her reputation for telling he truth. “I am here because Donald Trump assaulted me, and when I wrote about it, he said it never happened,” Carroll said, adding “He lied, and it shattered my reputation.” During Trump’s trial, Judge Lewis A. Kaplan and the former president got into frequent verbal altercations – with Kaplan at one point threatening to toss the former president out of the courtroom if he wouldn’t keep his mouth shut. Kaplan also told Habba to “sit down” after she requested an adjournment tomorrow so Trump could attend his mother-in-law’s funeral – a request Kaplan had previously denied. And once Carroll ‘won’ the $83.3 million, she went on a disgusting ‘price is right’ diatribe over how she’ll spend her ‘winnings.’

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“President Trump did in fact offer 10,000 National Guard troops to secure the U.S. Capitol, which was turned down..”

Jan 6 Comm. Hid Exonerating Evidence Of Trump’s Push For National Guard (Fed.)

Former Rep. Liz Cheney’s January 6 Committee suppressed evidence that President Donald Trump pushed for 10,000 National Guard troops to protect the nation’s capital, a previously hidden transcript obtained by The Federalist shows. Cheney and her committee falsely claimed they had “no evidence” to support Trump officials’ claims the White House had communicated its desire for 10,000 National Guard troops. In fact, an early transcribed interview conducted by the committee included precisely that evidence from a key source. The interview, which Cheney attended and personally participated in, was suppressed from public release until now. Deputy Chief of Staff Anthony Ornato’s first transcribed interview with the committee was conducted on January 28, 2022. In it, he told Cheney and her investigators that he overheard White House Chief of Staff Mark Meadows push Washington D.C. Mayor Muriel Bowser to request as many National Guard troops as she needed to protect the city.

He also testified President Trump had suggested 10,000 would be needed to keep the peace at the public rallies and protests scheduled for January 6, 2021. Ornato also described White House frustration with Acting Secretary of Defense Christopher Miller’s slow deployment of assistance on the afternoon of January 6, 2021. Not only did the committee not accurately characterize the interview, they suppressed the transcript from public review. On top of that, committee allies began publishing critical stories and even conspiracy theories about Ornato ahead of follow-up interviews with him. Ornato was a career Secret Service official who had been detailed to the security position in the White House. Cheney frequently points skeptics of her investigation to the Government Publishing Office website that posted, she said, “transcripts, documents, exhibits & our meticulously sourced 800+ page final report.” That website provides “supporting documents” to the claims made by Cheney and fellow anti-Trump enthusiasts.

However, transcripts of fewer than half of the 1,000 interviews the committee claims it conducted are posted on that site. It is unclear how many of the hidden transcripts include exonerating information suppressed by the committee. Those documents support the committee’s narrative rather than the truth of the events leading up to January 6, 2021, said Rep. Barry Loudermilk, chairman of the House Administration’s Subcommittee on Oversight. “The former J6 Select Committee apparently withheld Mr. Ornato’s critical witness testimony from the American people because it contradicted their pre-determined narrative. Mr. Ornato’s testimony proves what Mr. Meadows has said all along: President Trump did in fact offer 10,000 National Guard troops to secure the U.S. Capitol, which was turned down,” said the Georgia Republican.

His subcommittee is reviewing the work of the January 6 committee, which has been accused of other unethical behavior at the expense of accuracy, as well as collusion with other Democrat efforts to prosecute political opponents. “This is just one example of important information the former Select Committee hid from the public because it contradicted what they wanted the American people to believe,” Loudermilk said. “And this is exactly why my investigation is committed to uncovering all the facts, no matter the outcome.”

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Rothschild

 

 

Mother horse letting the kids play
https://twitter.com/i/status/1765841061853933747

 

 

Porcupine
https://twitter.com/i/status/1765839839973290316

 

 

Eagles
https://twitter.com/i/status/1766114575017971852

 

 

 

 

Pigcasso

 

 

Jaguar Puma

 

 

Kittens

 

 


Found in the Pirin Mountains of southwestern Bulgaria

 

 

Knife-billed puffin..
https://twitter.com/i/status/1766170916298301740

 

 

Hold this

 

 

Helping

 

 

 

 

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

 

 

 

 

 

Mar 082024
 


Pablo Picasso The Rooster 1938

 

Biden Delivers The “Darkest, Most Un-American Speech Given By A President” (ZH)
Was Neocon Anti-Russia Hawk Queen Victoria Nuland Forced Out? (Miles)
Nuland’s Successor Should Scare Zelensky (Dmitry Bavyrin)
Nuland’s Resignation Means Hard Times Ahead for Ukraine (Sp.)
Nothing In Nuland’s Life Became Her Like The Leaving Of It (Helmer)
The West’s Reckoning? (Michael Brenner)
US Couldn’t Handle Being The Sole Superpower – Putin (RT)
Ukraine Sends Fired Top General Zaluzhny To London (RT)
Cameron Wants to Steal Russian Assets as ‘Surety’ to Bail Out Ukraine (Sp.)
What Repercussions Could Reintroduction of Conscription in Germany Bring? (Sp.)
Global South Youth Flocks to ‘Isolated’ Russia (Pepe Escobar)
NYT Faces Claims of Hypocrisy Over Coverage of the Deployment of Troops (Turley)
Rep. Gaetz Accuses Jack Smith of Election Interference (ET)
Bill Would Strip COVID-19 Vaccine Manufacturers of Liability Protection (ET)

 

 

 

 

Trump SOTU
https://twitter.com/i/status/1765810329265602675

 

 

 

 

HUMAN TRAFFICKING
https://twitter.com/i/status/1765709918403793160

 

 

 

 

2029

 

 

Voter ID

 

 

 

 

Why Dennis Kucinich LEFT RFK Jr.’s Campaign (and much more)

 

 

 

 

Dark Brandon. Best part of Tucker Carlson is the 2nd half with Alex Jones.

Biden Delivers The “Darkest, Most Un-American Speech Given By A President” (ZH)

Having successfully raged, ranted, lied, and yelled through the State of The Union, President Biden can go back to his crypt now. Whatever ‘they’ gave Biden, every American man, woman, and the other should be allowed to take it – though it seems the cocktail brings out ‘dark Brandon’?

Biden’s Speech tonight …
• Fund Ukraine.
• Trump is threat to democracy and America itself.
• Abortion is good.
• American Economy is stronger than ever.
• Inflation wasn’t Biden’s fault.
• Illegals are Americans too.
• Republicans are responsible for the border crisis.
• Trump is bad.
• Biden stands with trans-children.
• J6 was the worst insurrection since the Civil War.
(h/t @TCDMS99)

Tucker Carlson’s response sums it all up perfectly: “that was possibly the darkest, most un-American speech given by an American president. It wasn’t a speech, it was a rant…” Carlson continued: “The true measure of a nation’s greatness lies within its capacity to control borders, yet Bid refuses to do it.” “In a fair election, Joe Biden cannot win”. And concluded: “There was not a meaningful word for the entire duration about the things that actually matter to people who live here.” Victor Davis Hanson added some excellent color, but this was probably the best line on Biden: “he doesn’t care… he lives in an alternative reality.”

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Victoria Nuland was involved in US politics in Eastern Europe and Russia for well over 30 years. Ukraine was her baby. Now it’s clear it’s not a big success. How desperate was she? Ray McGovern thinks perhaps the White House was afraid she would be “..attempting to contrive a highly escalatory attack on a nuclear power without approval from her superiors in the State Department..”

She goes, so does US Ukraine policy. Not a trifle matter.

Was Neocon Anti-Russia Hawk Queen Victoria Nuland Forced Out? (Miles)

Mass speculation has emerged after the sudden announcement this week that influential US Under Secretary of State Victoria Nuland would be resigning from her position in the Biden White House. The surprising development came Tuesday amidst a difficult moment for US President Joe Biden. Former President Donald Trump has maintained a steady lead over Biden in opinion polling as questions remain about the octogenarian head of state’s ability to serve a second term. Cracks have also begun to show in Biden’s political coalition as pro-Palestine activists urge a show of defiance against the president’s foreign policy in state primary contests. The problems extend to the personnel of Biden’s Cabinet as a scandal has arisen over Defense Secretary Lloyd Austin’s lack of transparency over health issues.

With the president facing challenges on multiple fronts, why would the White House choose this moment for a staff shakeup? Former US Central Intelligence Agency analyst Ray McGovern speculated the answer may lie in disagreements between Biden administration officials and the notoriously strong-willed Nuland during a discussion on Sputnik’s The Critical Hour program Wednesday. “The CIA would have, the NSA would have those conversations as well,” said McGovern, referring to leaked recordings of discussions between Nuland and German Defense Minister Boris Pistorius that appeared to reveal plans for an imminent attack on Russian soil. The leaks generated significant embarrassment for German officials as attention was drawn to Chancellor Olaf Scholz’s support for the Ukraine proxy conflict.

Nuland’s bellicose rhetoric may suggest she was going rogue, according to McGovern, attempting to contrive a highly escalatory attack on a nuclear power without approval from her superiors in the State Department. “My best guess here is that the CIA and the Defense Department and the NSA got this message around saying, ‘look, Victoria’s got her own agenda here,’” said the analyst. “‘The president doesn’t really want to strike these ammo depots in Russia or knock down the [Crimean] Bridge. So we got to rein her in, I guess it’s time for her to go to early retirement.’”

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“..promising her a place in the history books because of the role she has played in the events around Ukraine..”

Nuland’s Successor Should Scare Zelensky (Dmitry Bavyrin)

US Deputy Secretary of State Victoria Nuland is retiring from the civil service. She was responsible for relations with Russia back in the days of the first Yeltsin government, but all-Russia fame came to her after the distribution of “cookies” on the Maidan. There are serious reasons why Nuland chose retirement, even though she was destined for the Secretary of State’s chair. And the President of Ukraine has reason to be apprehensive of the candidacy of her replacement. Formally, Victoria Nuland was only the fourth [in fact third] in the US diplomatic hierarchy, but in terms of her real influence she is comparable to the Number-1 — Secretary of State Antony Blinken, whose place, according to rumours, she was aiming for. They are close in views, but belonged to different clans, and Nuland loomed over Blinken like a Nemesis: if it was decided to write off all the foreign policy failures of the Biden period and remove Blinken from office, the State Department would certainly go to her.

She is only a year older than Blinken, but as a diplomat she is old enough to be his mother. He is more of an armchair theorist than a practitioner, more of a “hand-me–down” to politicians than a politician, whereas Nuland usually worked “on the front line” – in secure situation rooms around the world, being a career ambassador in both the Russian and American sense of the term. In Russia, this means that the individual entered the diplomatic service not from the outside (for example, as a political appointee), but through specialized education and climbed the ladder of the ranks of the Ministry of Foreign Affairs. And in the United States, this is something like the principal title of honour for diplomats – a sign not only of merit, but also of the highest professional qualifications. Since 1956, only six dozen people have received this honorific, and Nuland is one of the most famous on the list.

She was good at her job; had been responsible for important areas for Washington for decades – NATO, Russia, Ukraine; it was as if she was born someday to become head the State Department, and best of all now, when it is especially fashionable to appoint women. However, President Joe Biden is stubbornly sticking to Blinken, whom he has known for a long time and intimately. He trusts him and he does not want to replace him with stronger and more independent characters like Nuland. Nevertheless, the Secretary of State must have breathed a sigh of relief when he received Nuland’s resignation letter. The fact that Blinken himself announced the departure of his likely rival for the succession seems to indicate his desire to cut off her escape route and the opportunity to change her mind.

Whether this is true or not, he did not skimp on compliments, calling Nuland “exceptional” and promising her a place in the history books because of the role she has played in the events around Ukraine. There may also be a place for that in Russian textbooks, only with different emphasis. Nuland became famous on our side of the Pacific Ocean and the Atlantic when she distributed cookies to Euromaidan protesters on the eve of the [February 21, 2014 Kiev] coup. And this fame was supported by the fact that she continued to oversee the Ukrainian direction and was Washington’s main negotiator with Moscow on all issues arising from this. The beginning of the Special Military Operation is her personal failure. Nuland tried to prevent such a turn of events, but could not maintain the necessary degree of control over the self–willed Ukrainian government. She also allegedly wanted to prevent the resignation of the Commander-in-Chief of the Armed Forces of Ukraine, Valery Zaluzhny, and also failed.

Shortly after that, Nuland ceased to act as Blinken’s Deputy Secretary of State and the Number-2 person in the State Department; she had been formally considered the replacement [for Wendy Sherman] in this position and lasted six months before Kurt Campbell was appointed; now, a month later, she resigns from her “post number four” [three], that is, definitively. It is unlikely that this fall is due to failures. There are many failures in Nuland’s career, primarily because she worked in the most difficult areas. It’s much more like escaping from a sinking ship, when the ship is the Joe Biden administration. It seems unlikely that he will be able to win the presidential election in eight months’ time. In Nuland’s eyes, he may be altogether non-credible now, since she interacts with “old Joe” personally and is more privy to his medical diagnosis than many others. And with the return of Donald Trump to the White House, continuation of her work in the State Department is incompatible, despite her experience and seniority.

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“..Nuland’s resignation means the Kiev regime has definitely lost a very influential supporter..”

Nuland’s Resignation Means Hard Times Ahead for Ukraine (Sp.)

Secretary of State Antony Blinken announced on March 5 that Victoria Nuland, a US official known for her ardent support to the Kiev regime, decided to step down in coming weeks. US career diplomat John R. Bass was picked as her temporary replacement, while the American media believes that Team Biden is likely to tap current US ambassador to NATO Julianne Smith to fill Nuland’s shoes in the near future. “Given what a staunch anti-Putinist Nuland was and how fervently she wanted to continue to utilize Ukraine as a platform in which to continue to weaken and/or slight Russia on the global stage — and perhaps even up the ante in that conflict with her support of sending ballistic missiles into Ukraine,” Dr. Matthew Crosston, professor of national security and director of academic transformation at Bowie State University, told Sputnik.

The academic said it was likely Nuland had become frustrated with the loss of support for her pet project in the US Congress, which has blocked the White House’s request for more than $60 billion in additional military aid to the Kiev regime. “She undoubtedly understood that if American support lessens or wanes, Ukraine loses, period,” Crosston pointed out. “Perhaps she did not want to be in the Administration that would be responsible for that outcome.” Nuland’s decision to step down was a surprise, as CIA veteran Larry Johnson told Sputnik this week. Her temporary replacement, John R. Bass, is little-known internationally. The US career diplomat served as an American ambassador in post-war Georgia and during a botched coup in Turkiye. In both countries he came under heavy criticism for meddling in those nations’ domestic affairs. Bass was also a hot-swap replacement for then acting Ambassador in Afghanistan during Team Biden’s botched withdrawal from the region in August 2021. Now he is expected to oversee the Ukraine crisis.

“Everyone seems to be emphasizing his ‘acting’ role, which in America always implies a temporary status where he will eventually be replaced by someone else more permanently,” stressed Crosston. “So I am not entirely sure that Bass is going to be the holder of any great responsibility in terms of formulating new policy in the role.” In light his role in the chaotic and bloody evacuation of Kabul, Bass’ new assignment is a hint that the US was about to abandon Ukraine as well. “It creates some new speculation beyond the standard ‘send more weapons to Ukraine. mantra that has existed so intensely for the last year,” the professor argued. While Crosston did not think Bass’ appointment automatically means that US is going to throw Ukraine down the drain, but Nuland’s resignation means the Kiev regime has definitely lost a very influential supporter. “One thing is certain: as long as Nuland remained in that chair, there was literally no chance such talk could even be theorized. Now it can,” the professor said.

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“..the reason for Nuland’s exit is either that she was forced out, principally by the Joint Chiefs of Staff before she could do more damage to US military assets in Europe; or that she decided not to be in office when the Articles of Capitulation are signed between Kiev, Lvov, and Moscow.”

Nothing In Nuland’s Life Became Her Like The Leaving Of It (Helmer)

As enemies go, Victoria Nuland (lead image), the Under Secretary of State for Political Affairs, was as threatening for Russia as the Thane of Cawdor was for Scotland and Macbeth in Shakespeare’s play about multiple homicide to capture state power. Cawdor repented for his treason in the moment before he died on the scaffold. His execution then allowed Macbeth to take Cawdor’s title and assets for himself, then move on to murder the Scottish king, and replace him until Macbeth was killed himself. The murdering Nuland has committed was foretold by many more sources than the three witches in Shakespeare’s plot. But if Nuland has witchly premonitions, she lacks Macbeth’s and Lady Macbeth’s sleepwalking guilt. In Nuland’s case, it is plain that as her murdering has accelerated, she has been gorging herself with food. In the play Lady Macbeth succumbed and then killed herself offstage. Nuland has just left the stage one hundred pounds heavier than when she entered it.

Not auspicious, according to the Heart Foundation. The script of Nuland’s exit is also not Shakespearian in quality. There is not a single Washington journalist or analyst whose job it has been for years to follow the scheming inside the State Department to report what those in a position to know believe is the reason for Nuland’s hasty “resignation”, as it is being called by the Washington Post, the New York Times, and the Secretary of State, Antony Blinken. His public obituary started with the idea that he had been taken by surprise when Nuland “has let me know that she intends to step down in the coming weeks”; it ended with the immediate naming of Nuland’s replacement, and her tombstone inscribed with “the lasting mark she’s made on this institution and the world.”

For the haste of her exit; for its timing late in the US presidential election campaign and as the Ukrainian military collapses, no one in a position to know believes Nuland’s reasons as they have been leaked by reporters close to her – that her ambition had been offended by her failure to be promoted from Number-3 to Number-2 at State; that her feminism was violated by the non-promotion; and that her Russia warmaking had been subordinated by the higher priority of the White House to fight China. Nor is her departure a case of avoiding blame for the failure of US policy in the Ukraine and in Europe, as the Russian Foreign Ministry spokesman, Maria Zakharova, declared yesterday. Nuland is responsible for “the fiasco of American foreign policy”, Zakharova said. “The bet was a huge one. Everything was staked by the liberal Democrats starting with Barack Obama. That bet has now been lost. An absolute fiasco — the rush by V.A. Zelensky begging for at least something more — the White House rejecting his requests — discord everywhere in NATO… No one has a clear idea what to do…A complete fiasco.”

Zakharova didn’t claim that the US and NATO leaders, their military staffs, and political advisors lack clarity on what they don’t want to risk – that’s to continue the war which Nuland has been promoting, and to escalate it with new weapons on the Ukrainian battlefield, and by attacks deep into Russia itself with nuclear-capable missiles like the German Taurus and US F-16s. If that is what the Russians think is happening and if they are correct – re-read the double negative — then the reason for Nuland’s exit is either that she was forced out, principally by the Joint Chiefs of Staff before she could do more damage to US military assets in Europe; or that she decided not to be in office when the Articles of Capitulation are signed between Kiev, Lvov, and Moscow.

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“..defeat in Ukraine, genocide in Palestine. The first is humiliating, the other shameful..”

The West’s Reckoning? (Michael Brenner)

Western leaders are experiencing two stunning events: defeat in Ukraine, genocide in Palestine. The first is humiliating, the other shameful. Yet, they feel no humiliation or shame. Their actions show vividly that those sentiments are alien to them – unable to penetrate the entrenched barriers of dogma, arrogance and deep-seated insecurities. The last are personal as well as political. Therein lies a puzzle. For, as a consequence, the West has set itself on a path of collective suicide. Moral suicide in Gaza; diplomatic suicide – the foundations laid in Europe, the Middle East and across Eurasia; economic suicide – the dollar-based global financial system jeopardized, Europe deindustrializing. It is not a pretty picture. Astoundingly, this self-destruction is occurring in the absence of any major trauma – external or internal. Therein lies another, related puzzle.

Some clues for these abnormalities are provided by their most recent responses as deteriorating conditions tighten the vise – on emotions, on prevailing policies, on domestic political worries, on ginger egos. Those responses fall under the category of panic behavior. Deep down, they are scared, fearful and agitated. Biden et al in Washington, Macron, Schulz, Sunak, Stoltenberg, von der Leyen. They lack the courage of their stated convictions or the courage to face reality squarely. The blunt truth is that they have contrived to get themselves, and their countries, in a quandary from which there is no escape conforming to their current self-defined interests and emotional engagement. Hence, we observe an array of reactions that are feckless, grotesque and dangerous.

Exhibit 1 is French President Emmanuel Macon’s proposed plan to station military personnel from NATO members within Ukraine to serve as a tripwire. Arrayed as a cordon around Kharkov, Odessa and Kiev they are meant to deter advancing Russian forces from moving on those cities for fear of killing Western soldiers – thereby risking a direct confrontation with the Alliance. It is a highly dubious idea that defies logic and experience while tempting fate. France long has deployed members of its armed forces in Ukraine where they programed and operated sophisticated equipment – in particular, the SCALP cruise missiles. Scores were killed by a Russian retaliatory strike a few months ago that destroyed their residence. Paris cried ‘holy murder’ for Moscow’s unsporting conduct in shooting back at those attacking them. It was retaliation for the French participation in the deadly bombing of the Russian city of Belgorod. Why then should we expect that the Kremlin would abandon a costly campaign involving what they see as vital national interests if uniformed Western troops were deployed in a picket line around cities? Would they be intimated into passivity by spiffy uniforms assembled under outsized banners inscribed with the slogan: “DON’T MESS WITH NATO”?

Moreover, there already are thousands of Westerners bolstering the Ukrainian armed forces. Roughly 4 – 5,000 Americans have been performing critical operational functions from the outset. The presence of a majority predates by several years the onset of hostilities 2 years ago. That contingent was augmented by a supplementary group of 1,700 last summer which was as a corps of logistic experts advertised as mandated to seek out and eradicate corruption in the black-marketing of pilfered supplies. The Pentagon people are sown thought the Ukrainian military from headquarters planning units, to advisers in the field, to technicians and Special Forces. It is widely understood that Americans have operated the sophisticated HIMARS long-range artillery and the Patriot air defense batteries. This last means that members of the U.S. military have been aiming – perhaps pulling the trigger on – weapons that kill Russians. In addition, the CIA has established a massive, multipurpose system able to conduct a wide range of Intelligence and operational activities- independently as well as in conjunction with the Ukrainian FSB. That includes tactical Intelligence on a day-by-day basis. We don’t know whether they had a role in the campaign of targeted assassinations inside Russia.

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“..the “desire for independence and protection of one’s sovereignty still breaks through to the surface. This is inevitable for the whole of Europe..”

US Couldn’t Handle Being The Sole Superpower – Putin (RT)

The United States was unable to manage the responsibility of being the world’s only superpower after the Cold War ended, Russian President Vladimir Putin said at the World Youth Festival (WYF) on Wednesday. The WYF runs in Sochi from March 1-7, hosting some 20,000 young people from Russia and abroad for sporting and cultural events, competitions and panel discussions. Addressing participants at the festival, Putin noted that after the collapse of the Soviet Union in 1991, the US elite had an opportunity to take advantage of their new “monopoly on world leadership.” “I believe that the United States has failed to handle the burden of responsibility that fell on its shoulders. The president predicted that as the multipolar world develops, “fundamental changes will also occur in Europe.” Despite the current hierarchy in the Western world, the “desire for independence and protection of one’s sovereignty still breaks through to the surface. This is inevitable for the whole of Europe,” the president noted.

The expansion of the BRICS alliance has been viewed by many economists as marking the end of undisputed US hegemony in the international arena. “The growing appetite for an alternative to the prevailing international order is important in itself — and marks a failure of US leadership,” business and finance news outlet Bloomberg wrote last year. The combined GDP of the BRICS countries has already overtaken that of the G7, and will grow further, Putin predicted. BRICS, which previously comprised Brazil, Russia, India, China and South Africa, grew in size this January with the inclusion of Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates. In the past year, the members of the grouping have moved away from using the dollar and euro in internal settlements, instead shifting towards the use of national currencies. Western sanctions related to the Russia-Ukraine conflict have forced Moscow to move away from Western currencies and the SWIFT system and to further develop its own MIR system of payments.

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As telegraphed weeks ago…

Ukraine Sends Fired Top General Zaluzhny To London (RT)

Former Ukrainian commander-in-chief Valery Zaluzhny has been appointed the country’s new ambassador to the UK, the Foreign Ministry announced on Thursday. The ministry said it has already informed London about the development, formally requesting approval from it. “The President of Ukraine approved the candidacy of Valery Zaluzhny for the post of Ambassador extraordinary and plenipotentiary of Ukraine to the United Kingdom,” the ministry said in a short statement. Zelensky himself further elaborated on the matter in a video address, insisting the appointment would only benefit relations between Kiev and London and that their ties “should only get stronger.” “Zaluzhny told me that this is the direction he would like to take – diplomacy,” the president claimed. Zaluzhny ended up being fired by Zelensky from his post as the country’s top general last month, with the Ukrainian president citing the need to bring “new approaches” and “new strategies” to the conflict with Russia.

The commander was replaced by General Aleksandr Syrsky, the head of the Ukrainian Ground Forces at the time. The pick has been widely seen as an unpopular one amongst the military, largely thanks to the questionable reputation of Syrsky, said to be nicknamed “The Butcher” over the commanding style he showed while leading the troops during both the defense of Artyomovsk (known in Ukraine as Bakhmut) and the subsequent attempt to retake the city as part of the 2023 summer offensive. Both battles have resulted in decisive defeats for Kiev, coupled with massive casualties among the troops. The firing of Zaluzhny came after a conflict between the commander-in-chief and Zelensky that had been rumored for months. The two had been reportedly disagreeing over military priorities, while Zelensky had also allegedly grown wary of the popular general, regarding him as a potential political opponent.

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The logic: Ukraine will pay it all back. “Cameron excuses his proposal on the basis that Ukraine will win the war against Russia, and that Moscow will have to pay reparations to Kiev..”

Cameron Wants to Steal Russian Assets as ‘Surety’ to Bail Out Ukraine (Sp.)

Some $300 billion in Russian assets were trapped abroad in 2022 following the escalation of the US proxy war in Ukraine. Under pressure from Kiev, there have been continued attempts by the West to seize those assets and give them to Ukraine. Britain is prepared to loan Ukraine all frozen Russian central bank assets in the United Kingdom on the belief that it will pay those loans back with Russian “reparations” following the end of the war, says UK foreign secretary David Cameron. Western countries have previously pledged a total of several billion dollars toward rebuilding Ukraine, including investment pledges from dozens of major multinational corporations. And in late January, Belgium announced it would allocate €611 million ($663 million) to help Kiev in 2024 using the profits they received from the frozen Russian assets.

But Cameron’s announcement this week is the most extreme proposal thus far, as the previous proposals only discussed giving Ukraine the “windfall profits” from the frozen assets which are estimated to be about $4 billion. “There is an opportunity to use something like a syndicated loan or a bond that effectively uses the frozen Russian assets as a surety to give that money to the Ukrainians knowing that we will recoup it when reparations are paid by Russia. That may be a better way of doing it. We are aiming for the maximum amount of G7 and EU unity on this but if we cannot get it I think we will have to move ahead with allies that want to take this action,” said Cameron on Tuesday, most likely referring to the United States. US Treasury Secretary Janet Yellen has also proposed finding a “way to unlock” the assets to support Ukraine. “I believe there is a strong international law, economic and moral case for moving forward. This would be a decisive response to Russia’s unprecedented threat to global stability,” Yellen said at a meeting of G20 finance ministers last month.

The G7 itself has questioned whether seizing the assets could undermine faith in the international financial system. And Belgium, which is believed to control as much as €190 billion ($208 billion) of the assets, is the most resistant to follow Cameron’s plan. It is reportedly facing a series of court cases in Russia, and its stance on the issue has the backing of both France and Germany. Cameron excuses his proposal on the basis that Ukraine will win the war against Russia, and that Moscow will have to pay reparations to Kiev. But the idea that Ukraine could win a military victory against Russia is unimaginable. More and more Western media outlets have been acknowledging Russia’s success on the battlefield. Moscow has maintained that any attempt to confiscate its frozen assets would violate international law, with the Russian Foreign Ministry labeling such an action as theft.

“Those who are trying to initiate this, and those who will implement it, must understand that Russia will never leave those who did this alone. And it will constantly exercise its right to a legal battle, internationally, nationally or otherwise. And this, of course, will have — both Europeans and Americans understand this very well — it will have legal consequences for those who initiated and implemented it,” Kremlin spokesman Dmitry Peskov said in December. Russian Finance Minister Anton Siluanov has also said that Moscow is willing to issue a “symmetrical” response to this form of Western financial aggression. “We have no fewer frozen [assets than Western countries],” Siluanov said in an interview with Sputnik last month. “Any actions taken against our assets would receive a symmetrical response.

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Did they bother to ask the people?

What Repercussions Could Reintroduction of Conscription in Germany Bring? (Sp.)

German Defense Minister Boris Pistorius plans to speed up the process of reintroducing compulsory military service in his country, the Spiegel magazine has reported. He gave the Defense Ministry until April 1 to present options for a German military service model that makes a major contribution to “national resilience.” The move is “a clear sign of the rearmament taking place in Europe,” Mikael Valtersson, a former officer of Swedish Armed Forces/Air Defense, former defense politician and chief of staff with the Sweden Democrats, said in an interview with Sputnik. Such a process “might result in a new arms race and increased confrontations in Europe,” Valtersson warned. In an apparent nod to Germany, he said that “With conscription, the entire society becomes much more militarized, since a large part of the population have military experience.”

The ex-defense politician recalled that, “The resistance against conscription [in Germany] has decreased during the last years, partly as a result of the conflict in Ukraine and the following heightened tension between the West and Russia.” “But also to a large degree due to an intense campaign from Western media and politicians trying to scare the population with the threat from Russia. A large part of the population still remains skeptical of conscription,” Valtersson added. At the same time, he argued that, “With a bigger military, Germany will of course get a larger influence in European security and politics.” According to the former Swedish officer, “German capacity to replace the US as the main conventional defender in Europe will also increase with a military partially based on conscription.”

Touching upon Russian-German ties, he said that “conscription in itself” would not affect them, “but in combination with general rearmament and a very militaristic language from German media and politicians it will worsen relations.” He was echoed by Stefan Keuter, a German politician for the Alternative for Germany party and a member of the Bundestag since 2017, who told Sputnik that the country “has already a regular army, the Bundeswehr”, which is “integrated into the Western defense alliance.” If strengthened, the European “axis of the alliance” could reduce dependence on the Americans, Keuter noted. It remains unclear “how things will develop in Washington and a high level of defense preparedness cannot be a disadvantage,” he added, apparently referring to former US President Donald Trump’s previous remarks about his unwillingness to defend NATO countries that don’t meet spending guidelines.

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“..in sharp contrast to the artificial, cancel culture-obsessed “open society” P.R. incessantly sold by the usual hegemonic foundations..”

Global South Youth Flocks to ‘Isolated’ Russia (Pepe Escobar)

By any metric, the World Youth Festival running in the Sirius federal territory (Sochi, southern Russia) on March 1-7 is a stunning achievement: a sort of Special Cultural Operation (SCO) encompassing the young Global South. It starts with the incomparable setting – the 2014 Olympics park of science and art, nested between snowy mountains and the Black Sea – all the way to the stars of the show: over 20,000 young leaders from over 180 nations, Russians and mostly Asians, Africans and Latin Americans, as well as assorted dissidents from the sanctions-obsessed Western “garden”. Among them are scores of educators, PhDs, public sector or culture activists, charity volunteers, athletes, young entrepreneurs, scientists, citizen journalists, as well as teenagers from 14 to 17, for the first time the focus of a special program, “Together into the Future”. These are the generations that will be building our common future.

President Putin is once again quite sharp: he emphasized how a clear distinction applies between citizens of the world – including the Global North – and the intolerant, extremely aggressive Western plutocracy. Russia, a multinational, multicultural civilization-state, by principle welcomes all citizens of the world. The World Youth Festival 2024, taking place seven years after the last one, renews a tradition that harks back to the 1957 World Festival of Youth and Students when the USSR welcomed everyone on both sides of the Iron Curtain during the Cold War. The idea of an open platform for young, committed, very organized people attracted by Russian conservative/family values permeates the whole festival – in sharp contrast to the artificial, cancel culture-obsessed “open society” P.R. incessantly sold by the usual hegemonic foundations.

Each day at the festival is dedicated to a main theme. For instance, March 2 was on “responsibility for the fate of the world”; March 3 was for “unity and cooperation among nations”; March 4 was for “a world of opportunities for everyone”. No less than 300,000 youngsters from around the world applied to come to the festival. So obviously to select a little over 20,000 was quite a feat. After the festival, 2,000 foreign participants will travel to 30 Russian cities for cultural exchange. Exactly what comrade Xi Jinping defines as “people to people’s exchanges” It’s no wonder the festival organizers, Rosmolodezh, the Russian federal agency for youth affairs, call it “the largest youth event in the world”. Director Ksenia Razuvaeva noted, “we are destroying the myth that Russia is isolated.”

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“The threat was so great that Trump had to be moved into the bunker because the Secret Service feared a breach of security around the White House..”

NYT Faces Claims of Hypocrisy Over Coverage of the Deployment of Troops (Turley)

Sen. Tom Cotton, R-Ark., has a right to be a tad confused. The senator noted the matter-of-fact coverage by The New York Times that Democratic New York Gov. Kathy Hochul’s plans to send troops to New York City to crack down on crime. Cotton posted a “hmmm” note that simply read: “Sending in the troops to help restore law and order…” His point was that it was roughly four year ago, that the newspaper publicly denounced him after running his opinion piece calling for the use of national guard troops to quell violent riots in Washington. The Cotton column led to editors being forced out after public confessions and recriminations. Now, after Democratic politicians actually ordered such a deployment, the Times has offered little more than a journalistic shrug. Hochul announced she will be deploying 750 members of the National Guard to New York City’s subway system to assist the New York Police Department (NYPD) in the crackdown on crime, including bag searches at the entrances of busy train stations.

I have previously written on the hypocrisy of the Times in how it has handled the Cotton affair. The column itself was historically accurate. Indeed, critics never explained what was historically false (or outside the range of permissible interpretation) in the column. Moreover, writers Taylor Lorenz, Caity Weaver, Sheera Frankel, Jacey Fortin, and others said that such columns put black reporters in danger and condemned publishing Cotton’s viewpoint. In a breathtaking surrender, the newspaper apologized and not only promised an investigation in how such an opposing view could find itself on its pages but promised to reduce the number of editorials in the future: “We’ve examined the piece and the process leading up to its publication. This review made clear that a rushed editorial process led to the publication of an Op-Ed that did not meet our standards. As a result, we’re planning to examine both short term and long term changes, to include expanding our fact-checking operation and reduction the number of op-eds we publish.”

The sacking of Bennet had its intended effect. Writers and columnists with opposing or critical views were soon forced off newspapers around the country, including at the New York Times. Editor Adam Rubenstein was also forced out at the paper and recently wrote a scathing account of the bizarre environment within the paper. The writers have condemned the “both sideism” of allowing conservative viewpoints in the newspaper and insisted that Cotton and others must be banned as favoring potential violent actions against protesters. Yet, the newspaper has published people with anti-free speech and violent viewpoints in the last year. While the New York Times stands by its declaration that Cotton should never have been published, it had no problem in publishing “Beijing’s enforcer” in Hong Kong as Regina Ip mocked freedom protesters who were being beaten and arrested by the government.

Indeed, just before the anniversary of the Cotton controversy, the New York Times published a column by University of Rhode Island professor Erik Loomis, who defended the murder of a conservative protester and said that he saw “nothing wrong” with such acts of violence. Loomis’ article on “Why The Amazon Workers Never Stood A Chance” did not include his earlier violent rationalization. It was in my view a worthy and interesting column for publication. So was Cotton’s column. While many today still claim that the protests around the White House were “entirely peaceful” and there was no “attack on the White House,” that claim is demonstrably false. As I discussed in my testimony to Congress, there was in fact an exceptionally high number of officers were injured over the course of days of protests around the White House. In addition to a reported 150 officers were injured (including at least 49 Park Police officers around the White House), protesters caused extensive property damage including the torching of a historic structure and the attempted arson of St. John’s.

The threat was so great that Trump had to be moved into the bunker because the Secret Service feared a breach of security around the White House. Notably, later during the January 6th riot, there were no recriminations for the use of the same fencing and national guard troops to protect the Capitol, albeit too late to have prevented the initial riot. So now it is a Democratic leader who is not just calling for the use of troops but deploying them in New York City. It is part of an effort by many Democrats to change course on crime and immigration before the 2024 election after years of criminal law reforms and sanctuary city policies.

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“According to a 2022 memo issued by Attorney General Merrick Garland, law enforcement officers and prosecutors are prohibited from taking actions that could impact elections.”

Rep. Gaetz Accuses Jack Smith of Election Interference (ET)

Rep. Matt Gaetz (R-Fla.) accused Special Counsel Jack Smith of election interference in a complaint filed with the Department of Justice’s (DOJ) inspector general on Wednesday. In a letter to Inspector General Michael Horowitz, Mr. Gaetz asserted that Mr. Smith’s resistance to delaying a trial stems from an unspoken drive to hold it before the upcoming November presidential election. Last week, former President Donald Trump’s lawyers and Mr. Smith’s office filed motions requesting different trial dates in the classified documents criminal case in Florida. President Trump’s lawyers have argued that a fair trial cannot be held in an election year when he is the leading Republican candidate. “The witch hunt against President Trump by Attorney General Garland and Special Counsel Smith is a partisan exercise, and the American people know it!” Mr. Gaetz wrote on X (formerly Twitter).

“Jack Smith’s attempt to speed up the trial against President Trump violates the DOJ’s rules and the law,” he continued. “His public comments and his office’s briefs before the Supreme Court demonstrate that he has no reason for his actions other than to unlawfully interfere in the 2024 presidential election.” In his letter, Mr. Gaetz pointed to statements by Mr. Smith in court filings where he has urged a “rapid” review of the case and stressed its “public importance.” This, according to the Florida congressman, shows that the case is an attempt at election interference. “Were there a legitimate, non-election related purpose for this request, these attorneys, who have filed in appeals courts many times, would have listed such,” Mr. Gaetz wrote. “Since charges have been filed and the defendant himself is taking a legal position on timing and lodging various appeals, that justification cannot, for example, be the rights of the defendant under the Constitution or Speedy Trial Act,” he continued.

President Trump’s legal team made a similar argument last month, writing in a court filing that Mr. Smith was twisting “into logical knots” in his argument against delaying the trial. “The Special Counsel’s latest filing raises a compelling inference of a political motive—the motivation to influence the 2024 Presidential election by bringing the leading Republican candidate to trial before November 5, 2024,” President Trump’s lawyers wrote. Mr. Gaetz argued in Wednesday’s letter that Mr. Smith’s apparent rush to trial raises questions about compliance with DOJ policy. According to a 2022 memo issued by Attorney General Merrick Garland, law enforcement officers and prosecutors are prohibited from taking actions that could impact elections.

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“The American people deserve justice for the infringement on their personal medical freedom and those medically harmed deserve restitution..”

Bill Would Strip COVID-19 Vaccine Manufacturers of Liability Protection (ET)

Proposed legislation introduced on March 5 would strip COVID-19 vaccine manufacturers of liability protections, enabling U.S. residents injured by the vaccines to sue the companies. The bill, proposed by Rep. Chip Roy (R-Texas), would retroactively remove protections from the Public Readiness and Emergency Preparedness Act (PREP Act) for COVID-19 vaccine manufacturers. “No federal law … may make the manufacturer of a COVID-19 vaccine immune from suit or liability, or limit the liability of such a manufacturer, with respect to claims for loss caused by, arising out of, relating to, or resulting from the administration to or the use by an individual of a COVID-19 vaccine,” the bill reads. The PREP Act currently protects manufacturers and people who administer the vaccines from liability, under a 2020 declaration entered by then-Health Secretary Alex Azar during former President Donald Trump’s administration. President Joe Biden’s administration has since extended the declaration.

The only exception to the PREP Act protection is in cases of death or serious injury caused by “willful misconduct.” The protection even covers people who “reasonably could have believed” they were protected even if, in actuality, they were not, according to an opinion from the Department of Health and Human Services (HHS). “Millions of Americans were forced to take a COVID-19 shot out of fear of losing their livelihoods and under false pretenses. Many have faced injury from the vaccine, but few have been afforded little recourse,” Mr. Roy said in a statement. He said he was introducing the new bill “to empower Americans to remove crony federal liability protections for COVID-19 vaccine manufacturers and empower injured Americans.” “The American people deserve justice for the infringement on their personal medical freedom and those medically harmed deserve restitution,” Mr. Roy said.

As part of the federal vaccine system, people who have suspected or confirmed injuries from COVID-19 vaccines can apply for compensation from the government under a program called the Countermeasures Injury Compensation Program. But as of January, just 11 people have been compensated, with the highest payout being just $8,961. The overwhelming majority of claims that have been processed have been rejected, according to HHS, which both runs and administers the program. Some of the denials involved people whose doctors diagnosed them with vaccine injuries. A lawsuit has challenged the constitutionality of the program, describing it as a “kangaroo court.” The proposed legislation makes clear that it does not affect the ability of people to apply for recompense through the compensation program.

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Catfish

 

 

 

 

Kugel

 

 

First house
https://twitter.com/i/status/1765514835016454564

 

 

 

 

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

 

 

 

 

 

Mar 022022
 
 March 2, 2022  Posted by at 9:47 am Finance Tagged with: , , , , , , , ,  62 Responses »


Salvador Dali They were there 1931

 

Open Letter To TV Watching Western Armchair Generals (Saker)
Fog of War (Wolfgang Streeck)
How Russia Will Bypass Western Economic Warfare (Escobar)
Russia To Be In Technical Default Within Hours (ZH)
The Americans Itching For War (Techno Fog)
Why Wouldn’t the US Negotiate With Putin? (Tracey)
US Sees ‘No Reasons’ to Change Nuclear Alert Level (ZH)
One In Thirty (Denninger)
New Zealand Data Shows Fully Vaccinated Developing VAIDS (DE)
Pfizer’s COVID-19 Vaccine Enters Liver Cells and Is Converted to DNA (ET)
So About Not Needing Actual Study… (Denninger)

 

 

 

 

“a wall high enough to keep out a vaccine”

 

 

Urainian people?
https://twitter.com/i/status/1498880750116032515

 

 

But yeah, Putin’s the one who’s crazy.

 

 

Putin

 

 

“..the Ukie military was 80% defeated on Day 1 [..] THAT is why they are blowing up bridges, distributing weapons and releasing convicted criminals. NOT because they are winning!”

Open Letter To TV Watching Western Armchair Generals (Saker)

My dear TV western armchair generals, I get it, I promise. I really do! Your entire life you have been trained to see a successful military operations like so: Begin by bombing the shit of the “hadjis” or “sand niggers” with bombs and missiles, then flatten their town à la Fallujah, then move in with heavy armor and shoot everything which still moves or breathes. Then distribute chewing-gums to a few kids while on video. Then take the city center, drop a statue in front your embedded presstitutes, and then declare victory. Then, after declaring victory, stay another 20 years or so (Blinken was clearly projecting!), ruin it completely, then leave it again and declare another brilliant victory. And don’t forget to declare urbi at orbi that you reserve the “right” to bomb the shit out of them anytime you deem it is needed.

And fuck their sovereignty or anybody else’s while we are at it! Lastly, once home, don’t forget to “thank” your “veterans” for their “service”. I get it. Now YOU try, please!! Now, in spite of this conditioning, please at least try to understand the following points: First, the Russians do not see Ukrainian as Hadjis but as their own brothers. Second many/most LDNR soliders have relatives in the Nazi occupied Ukraine. Third, yes, Russia can turn any Ukrainian city into Fallujah, but who do you think will then have to pay for its reconstruction? Fourth, please understand that the double goals of 1) denazification and 2) disarmament implies that any person which is not a Nazi or is not armed and hostile is not, repeat, NOT the target of the Russian armed forces.

Fifth, the Ukie military was 80% defeated on Day 1. Get that? It was gone as a coherent fighting force. THAT is why they are blowing up bridges, distributing weapons and releasing convicted criminals. NOT because they are winning! I mean – how stupid are you if you believe that? Ukie stupid? Seriously? Right now you are the object of probably the biggest PSYOP operation in history. If you realize that and treat these PSYOPs as you should, that is as “informational warfare from the bad guys” you will be able to tell your kind and grandkids “I never believed that crap”. Good for you!

Kharkiv rocket

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Europe still is but a province of the US.

Fog of War (Wolfgang Streeck)

Only a Europe at peace with Russia, one that respects Russian security needs, could hope to free itself from the American embrace, so effectively renewed during the Ukrainian crisis. This, one presumes, is the reason why Macron insisted for so long on Russia being a part of Europe, and on the need for ‘Europe’, as represented of course by himself and France, to provide peace on its Eastern flank. Russia’s invasion of Ukraine has for a long time, if not forever, put an end to this project. But then, it was never very promising to begin with, given Germany’s felt dependence on American nuclear protection, combined with German doubts about all-too-fanciful French global ambitions, re-defined as European ambitions to be funded by German economic power. And Russia may with some justification have questioned if, under these conditions, France would be able to push the US out of the European drivers’ seat.

So the winner is… the United States? The longer the war drags on, due to the successful resistance of Ukrainian citizens and their army, the more it will be noticed that the leader of ‘the West’, who spoke for ‘Europe’ as the war built up, is not intervening militarily on behalf of Ukraine. The US has given itself a special leave of absence, as Biden made clear from the start. Looking at its record, this is nothing new: when their mission gets unmanageable, they withdraw to their distant island. Nevertheless, as Germans look on, wondering where the US is, they may start to feel some doubt about the American commitment to come to their nuclear defence. That commitment, after all, underlies German membership in NATO, German adherence to the nuclear nonproliferation treaty, and the housing of 30,000 or so American troops on German soil.

In this context the special budget of €100 billion, announced a few days into the war by the Scholz government and devoted to fulfilling the promise, going back to 2001, to spend 2 percent of Germany’s GDP on arms, looks like a ritual sacrifice to appease an angry God who one fears might abandon his less-than-true believers. Nobody thinks that had Germany actually lived up to the 2 percent NATO demand, Russia would have been deterred from invading Ukraine, or that Germany would have been able and willing to come to its aid. In any case it will take years for the new hardware, of course the latest on offer, to be made available to the troops. It will also be hardware of exactly the sort that the US, France and the UK already have in abundance.

Moreover, the entire German military is under the command of NATO, meaning the Pentagon, so the new arms will add to NATO’s, not Germany’s firepower. Technologically, they will be designed for deployment around the globe, on ‘missions’ like Afghanistan – or, most likely, in the environs of China, to assist the US in its emerging confrontation in the South China Sea. There was no debate at all in the Bundestag on exactly what new ‘capabilities’ would be needed, or what they will be used for. As in the past, under Merkel, this was left to ‘the allies’ to determine. One item could be the Future Combat Air System (FCAS), beloved by the French, which combines fighter bombers, drones and satellites for worldwide operations. There is scant hope that there will at some point be a strategic debate in Germany on what it means to defend your own territory, rather than attack the territory of others. Can the Ukrainian experience help start this discussion? Unlikely.

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“Those with IQs over 50 in the European Union (EU) must have understood that Russia simply could not be totally excluded from SWIFT, but maybe only a few of its banks..”

How Russia Will Bypass Western Economic Warfare (Escobar)

So a congregation of NATO’s top brass ensconced in their echo chambers target the Russian Central Bank with sanctions and expect what? Cookies? What they got instead was Russia’s deterrence forces bumped up to “a special regime of duty” – which means the Northern and Pacific fleets, the Long-Range Aviation Command, strategic bombers and the entire Russian nuclear apparatus on maximum alert. One Pentagon general very quickly did the basic math on that, and mere minutes later, a Ukrainian delegation was dispatched to conduct negotiations with Russia in an undisclosed location in Gomel, Belarus.

Meanwhile, in the vassal realms, the German government was busy “setting limits to warmongers like Putin” – quite a rich undertaking considering that Berlin never set any such limits for western warmongers who bombed Yugoslavia, invaded Iraq, or destroyed Libya in complete violation of international law. While openly proclaiming their desire to “stop the development of Russian industry,” damage its economy, and “ruin Russia” – echoing American edicts on Iraq, Iran, Syria, Libya, Cuba, Venezuela and others in the Global South – the Germans could not possibly recognize a new categorical imperative. They were finally liberated from their WWII culpability complex by none other than Russian President Vladimir Putin. Germany is finally free to support and weaponize neo-Nazis out in the open all over again – now of the Ukrainian Azov battalion variety.

[..] So the US itself, in another massive strategic blunder, will speed up de-dollarization. As the managing director of Bocom International Hong Hao told the Global Times, with energy trade between Europe and Russia de-dollarized, “that will be the beginning of the disintegration of dollar hegemony.” It’s a refrain the US administration was quietly hearing last week from some of its own largest multinational banks, including notables like JPMorgan and Citigroup. A Bloomberg article sums up their collective fears: “Booting Russia from the critical global system – which handles 42 million messages a day and serves as a lifeline to some of the world’s biggest financial institutions – could backfire, sending inflation higher, pushing Russia closer to China, and shielding financial transactions from scrutiny by the west. It might also encourage the development of a SWIFT alternative that could eventually damage the supremacy of the US dollar.”

Those with IQs over 50 in the European Union (EU) must have understood that Russia simply could not be totally excluded from SWIFT, but maybe only a few of its banks: after all, European traders depend on Russian energy. From Moscow’s point of view, that’s a minor issue. A number of Russian banks are already connected to China’s CIPS system. For instance, if someone wants to buy Russian oil and gas with CIPS, payment must be in the Chinese yuan currency. CIPS is independent of SWIFT.

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“We also see strong likelihood of technical default on Eurobonds at the sovereign level.”

Russia To Be In Technical Default Within Hours (ZH)

More than two decades ago, on August 17, 1998, Russia defaulted on its debt and devalued the ruble, sparking a political crisis that culminated with Vladimir Putin replacing Boris Yeltsin and which also eventually resulted in the spectacular implosion of a then little known hedge fund called Long Term Capital Management (which was staffed to the gills with “brilliant” Nobel prize winners) which after receiving a Fed-led Wall Street bailout, ushered in the era of too big to fail. We bring this up because in just a few hours, Russia will be in another technical default. Amid the flurry of capital controls imposed by Moscow today, the Russian central bank banned coupon payments to foreign owners of ruble bonds known as OFZs in what it said was a temporary step to shore up markets in the wake of international sanctions.

What it really is, is a technical default on upcoming interest and maturity payments, with a trigger due as soon as tomorrow. The Bank of Russia issued the instruction to depositaries and registries as part of a raft of measures announced this week that included a freeze on local security sales by foreigners. It could leave foreign investors who held almost 3 trillion rubles ($29 billion) in the debt at the start of February unable to collect income on their holdings, which are already blocked from sale by restrictions. “Issuers have the right to make decisions on the payment of dividends and the making of other payments on securities and transfer them to the accounting system,” the central bank said in an emailed reply to questions. “However, the payments themselves will not be made by depositories and registrars to foreign clients. This also applies to OFZ.”

The decision by the central bank was taken to “avoid mass sales of Russian securities, the withdrawal of funds from the Russian financial market and to support financial stability,” it said. With as much as half of its foreign reserves frozen abroad by sanctions aimed at punishing the Kremlin for invading Ukraine, the Bank of Russia said Monday it would harden capital controls with a ban on transferring foreign currency abroad. While initially it clarified that the step wasn’t aimed at stopping the servicing of debt, some investors and economists said the phrasing of the decree could amount to a default.

“Game over? I think they underestimated how far sanctions will go and now don’t have much left to do,” Viktor Szabo, a fund manager at Aberdeen Asset Management in London told Bloomberg. “All Russian markets have fallen apart.” “This will likely be a technical default, we’ll see how long it goes on for,” said Nick Eisinger, co-head of emerging-markets active fixed income at Vanguard Asset Management in London. “We also see strong likelihood of technical default on Eurobonds at the sovereign level.”

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“Putin the Madman is the new talking point, the elite opinion that is approved for the masses.”

The Americans Itching For War (Techno Fog)

Former Secretary of State Condoleezza Rice calls Putin’s behavior “erratic,” his views “delusional.” James Clapper says Putin is “unhinged.” Clapper suggests the possibility that Putin will use tactical nuclear weapons in Ukraine. Fiona Hill, the Regime’s favorite “Russia expert,” believes “Putin is increasingly operating emotionally and likely to use all the weapons at his disposal, including nuclear ones.” There’s a couple goals in questioning Putin’s state of mind. First, it serves to defend America from criticisms that potential NATO expansion and continued American meddling in Ukraine helped spark this conflict. (“Blame the crazy man, not us.”) Second, it justifies the escalation of the West’s involvement in the war between Ukraine and Russia.

Talks about the potential for the use of nuclear weapons – “the crazy man in has nukes!” – only make intervention more compelling (though that doesn’t guarantee Biden would take the bait). Already U.S. Senators are calling for a no-fly zone over Ukraine. Escalation leads to dangerous questions and unknown answers, such as what happens when the U.S. and Russia are in direct conflict. Missing from the media’s coverage is push-back on these statements about Putin’s state of mind or the potential use of nuclear weapons. Their skepticism isn’t missing – it’s dead. Putin the Madman is the new talking point, the elite opinion that is approved for the masses. There’s little basis for their new talking point – certainly not in Putin’s February 24, 2022 speech where he calmly outlines Russia’s grievances and concerns, and their plans for Ukraine.

In fact, while Fiona Hill questions Putin’s mental state, she admits they assessed years ago that there was “a real, genuine risk of preemptive Russian military action” against Ukraine in response to NATO’s Open Door promise to welcome any European democracy (including Ukraine). Such predictions don’t square with craziness. Hill and Clapper’s inflammatory statements about the potential for Russia to use nuclear weapons makes zero sense in context of the conflict in Ukraine and Putin’s demands. Putin is winning the war. At the time I’m writing this, Russia is surrounding major Ukrainian cities and the Russian convoy headed to Kyiv is estimated to be 40 miles long.


When people flee east, they are not refugees, they’re migrants. And the NYT makes them hard to find too…

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“So of course it was to the US that Russia’s demands for written “security guarantees” were officially submitted last December — not to China, or the EU, or Botswana, or anyone else.”

Why Wouldn’t the US Negotiate With Putin? (Tracey)

It’s of course possible that Vladimir Putin was always hell-bent on invading Ukraine, that his decision was taken months if not years ago, and that no diplomatic intervention would have made any difference. Yes, that is possible. But it is also the case that the only country capable of making any difference in addressing the “security” concerns Putin claimed were driving his behavior — and thus, the only relevant diplomatic player in the situation — was the US. Many have pointed out that China’s tacit support for the invasion makes them a relevant diplomatic player, and that’s certainly feasible. But in terms of the core grievances that Putin repeatedly identified as his motives for this invasion — Ukraine’s potential accession into NATO, the already-existing moves to facilitate “interoperability” between the Ukraine military and the US/NATO, and the conversion of Ukraine since 2014 into a de facto US military outpost — the only relevant diplomatic player was the US.

For the chorus of people who will fulminate for the rest of their lives that any consideration of US culpability in this fiasco is somehow an “apology” for Putin, or a denial of his agency, or any other assorted nonsense: feel free to live in your black-and-white moral universe where tales of Good versus Evil always result in the princess being rescued by the knight, or whichever other comforting myths you need to tell yourself. The US deliberately chose — across administrations of both parties — to subsidize and “train” Ukraine’s military, flood the country with weapons, and otherwise assume the role of primary foreign sponsor. That’s the indisputable reality. Last week, Putin called Ukraine a “colony” or “puppet” of the US. Why do you think everyone from Hunter Biden to Rudy Giuliani correctly ascertained that they could secure huge sums of money from shady Ukrainian financial interests for doing next to nothing, other than having prominent political connections in the US?

So of course it was to the US that Russia’s demands for written “security guarantees” were officially submitted last December — not to China, or the EU, or Botswana, or anyone else. They were submitted to the US. Hence the clear-as-day centrality of the US in the progression of this conflict — a fact which now gets bizarrely denied on the regular by political-blackmailers who scream that there is absolutely no acceptable response to this invasion other than to condemn Putin about 15 billion times (even if you’ve already done so, emphatically). There is a certain point when these endless calls for condemnation function as nothing more than a coercive disciplinary tactic to preclude any further debate, and that point has arrived.

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Liz Truss. Where did she come from? Must be Schwab.

US Sees ‘No Reasons’ to Change Nuclear Alert Level (ZH)

The White House said Monday that the US sees “no reasons” to change its nuclear alert levels after Russian President Vladimir Putin placed Russia’s nuclear forces on a “special” alert. According to Interfax, Russia’s Defense Ministry said Monday that its nuclear missile forces in its Northern and Pacific fleets have been placed on “enhanced combat duty” in response to Putin’s order. “We are assessing President Putin’s directive and at this time, we see no reasons to change our own alert levels,” White House Press Secretary Jen Psaki told reporters. Later in the day, President Biden was asked if Americans should worry about nuclear war, to which he simply replied, “no.” Psaki claimed that the US and NATO had no “appetite or desire” for a conflict with Russia even as the Western powers are pledging to funnel more weapons into Ukraine and have imposed a series of harsh sanctions on Russia.


According to BBC, the Kremlin later explained its change in nuclear forces posture was due to comments made by UK Foreign Secretary Liz Truss: Kremlin spokesman Dmitry Peskov said “unacceptable” remarks were made about possible “clashes” between Nato and Moscow over Russia’s attack on Ukraine. It is unclear precisely which comments by Ms Truss Russia objects to. On Sunday, she said if Russia was not stopped, other states may be threatened and it could end in conflict with Nato. A Foreign, Commonwealth and Development Office source told the BBC: “I don’t think anything Liz has said warrants that sort of rhetoric or escalation.” Peskov said Monday: “Statements were made by various representatives at various levels on possible altercations or even collisions and clashes between Nato and Russia.” “We believe that such statements are absolutely unacceptable. I would not call the authors of these statements by name, although it was the British foreign minister.”

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Increasingly starting to look like Russia roulette.

One In Thirty (Denninger)

That’s my latest “best guess” when it comes to people who took the jabs for permanent and material impairment of their health. One in thirty. Incidentally that might be conservative; I would not be surprised if its worse than that. My estimates in this regard keep going the “wrong” way; what was a couple months ago one in a couple hundred is now close to ten times worse than that. This is yet another data set, this time from Israel and Pfizer which was intentionally suppressed and is still being intentionally suppressed. 1 in 30 is about 3% of all recipients. There will be a skew but exactly where it lands is not yet known. There is a furious attempt at present to deflect the most-obvious and outrageous examples of harm, specifically cardiac damage in young men, with the claim that “its transitory.”

That’s flat-out BS; heart damage is nearly always both cumulative and permanent. What’s also in the data and extremely serious is this: Additionally, roughly 24% of people with pre-existing autoimmune disorders, and 5%-10% of those with diabetes, hypertension, and lung and heart disease, also reported a worsening of their condition. That’s not 1 in 30 — its anywhere from one in 20 to one in FOUR! These are not transient problems folks; they’re disability-enhancing or even disability-causing health problems. Nor is the one in ten women under 54 reporting menstrual changes. This is not normal and again is wildly greater than one in thirty. I warned people before the mass jab-fest kicked off that there were very concerning issues with doing this in the first place and as time went on the data got worse rather than better.

There are always unknowns when you do something new and this was clearly new, but in addition as with Run-Death-Is-Near the history of this particular path (vector-based jabs, whether viral or mRNA) is one of serious problems and, in the context of mRNA, failures. Typically as time goes on you qualify some of the concerns and they drop off. That didn’t happen this time; instead what occurred is that the concerns got much worse. As soon as that started to show up in the data, which was evident by last March, the entire program should have been immediately scrapped until the issues were run to the ground and fully understood, bounded and qualified with the public choosing based on truthful and clearly-communicated information.

This was not only not done it was deliberately concealed with “Big Tech”, so-called “public health” and political organizations all lying through their teeth while refusing to examine or even publish truthful data sets.


New Zealand: 3% fatality rate for Pfizer vaccine

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Daily Exposé tries to cram too much info per article.

New Zealand Data Shows Fully Vaccinated Developing VAIDS (DE)

The problem we’re seeing here is that the immune system isn’t returning to its original and natural state. If it was then the outcomes of infection with Covid-19 would be similar to the outcomes among the not-vaccinated/one dose vaccinated population. Instead, it continues to decline at a rate that means the not-vaccinated population have a better performing immune system, so this means the Covid-19 injections are decimating the immune systems of the fully vaccinated. But to work out immune system performance we have to alter the calculation used to work out vaccine effectiveness slightly and divide our answer by either the largest of the vaccinated or unvaccinated case rate.


Unvaccinated case rate – Vaccinated case rate / largest of the unvaccinated / vaccinated case rate = Immune System Performance The following chart shows the real-world immune system performance of the fully vaccinated population in New Zealand between 6th Jan and 11th Feb, and between 12th Feb and 24th Feb 22 compared to the immune system performance of the unvaccinated population –

Between 6th Jan and 11th Feb, the immune system performance of the fully vaccinated equated to -49%, meaning they were down to the last 51% of their immune system. But fast forward to 24th Feb, and we find that the immune system performance of the fully vaccinated in New Zealand has fallen to -74%, meaning the fully vaccinated populations immune systems have degraded by a further 25% in just 13 days, and they are now down to the last 26% of their immune system. If the fully vaccinated population continues to degrade at the same rate, then they could have developed full blow AIDS by the middle of March 2022. AIDS (acquired immune deficiency syndrome) is the name used to describe a number of potentially life-threatening infections and illnesses that happen when your immune system has been severely damaged.


Unfortunately, the New Zealand Ministry of Health data shows that the fully vaccinated population are now just weeks away from developing Acquired Immune Deficiency Syndrome, (AIDS) or a novel condition with similar attributes that can only be described as Covid-19 Vaccine Induced Acquired Immune Deficiency Syndrome (VAIDS), and the repurcussions of this are already being seen in the official Covid-19 hospitalisation statistics for New Zealand –

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New Pfizer data dump: 9 pages of adverse reactions.

Pfizer’s COVID-19 Vaccine Enters Liver Cells and Is Converted to DNA (ET)

The messenger RNA (mRNA) from Pfizer’s COVID-19 vaccine is able to enter human liver cells and is converted into DNA, according to Swedish researchers at Lund University. The researchers found that when the mRNA vaccine enters the human liver cells, it triggers the cell’s DNA, which is inside the nucleus, to increase the production of the LINE-1 gene expression to make mRNA. The mRNA then leaves the nucleus and enters the cell’s cytoplasm where it translates into LINE-1 protein. A segment of the protein called the open reading frame-1, or ORF-1, then goes back into the nucleus where it attaches to the vaccine’s mRNA and reverse transcribes into spike DNA. Reverse transcription is when DNA is made from RNA, whereas the normal transcription process involves a portion of the DNA serving as a template to make an mRNA molecule inside the nucleus.

“In this study we present evidence that COVID-19 mRNA vaccine BNT162b2 is able to enter the human liver cell line Huh7 in vitro,” the researchers wrote in the study, published in Current Issues of Molecular Biology. “BNT162b2 mRNA is reverse transcribed intracellularly into DNA as fast as 6 [hours] after BNT162b2 exposure.” BNT162b2 is another name for the Pfizer-BioNTech COVID-19 vaccine that is marketed under the brand name Comirnaty. The whole process occurred rapidly within six hours. The vaccine’s mRNA converting into DNA and being found inside the cell’s nucleus is something that the Centers for Disease Control and Prevention (CDC) said would not happen. “The genetic material delivered by mRNA vaccines never enters the nucleus of your cells,” the CDC said on its web page titled “Myths and Facts about COVID-19 Vaccines.”

[..] The Swedish study also found spike proteins expressed on the surface of the liver cells that researchers say may be targeted by the immune system and possibly cause autoimmune hepatitis, as “there [have] been case reports on individuals who developed autoimmune hepatitis after BNT162b2 vaccination.” The authors of the first reported case of a healthy 35-year-old female who developed autoimmune hepatitis a week after her first dose of the Pfizer COVID-19 vaccine said that there is a possibility that “spike-directed antibodies induced by vaccination may also trigger autoimmune conditions in predisposed individuals” [..] Dr. Peter McCullough, an internist, cardiologist, and epidemiologist, wrote on Twitter that the Swedish study’s findings have “enormous implications of permanent chromosomal change and long-term constitutive spike synthesis driving the pathogenesis of a whole new genre of chronic disease.”


New Pfizer data dump: 9 pages of adverse reactions

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“The reason for failure has always been dose-related toxicity that has overtaken the benefit when used in sufficient quantity to actually deliver a therapeutic effect.”

So About Not Needing Actual Study… (Denninger)

Oh, mRNA won’t get taken up into cell lines and thus can’t propagate on a permanent basis in the human body, we were told. Indeed that’s rather important. Mutagenic (cancer), cytotoxic (you’re ****ed) and teratogenic (any child you give birth to or sire is ****ed) things that get into cellular DNA can lead to irreversible damage because most cells in the body are replaced on regular basis. There’s an infamous quote that is in fact wrong: Our body fully replaces itself every seven years. That’s not true. It came out of a study that looked at the average age of cells in a human, using Carbon-14 dating. Anyone who has done any sort of statistical work knows the problem with averages: They are just that, and the statistical outliers are there but unaccounted for with such simplistic tripe.

There are several types of cells that are never replaced. Certain ones in the cerebellum, for example, that deal with coordination and balance, those in the ocular lenses and the eggs in a woman’s ovaries. There are also cells that are much more-frequently replaced. Red blood cells, for example, have a roughly 90 day life cycle. This is why an A1c test, which measures glycated hemoglobin (that is, red cells that have been damaged by glucose) will tell you what your average blood glucose level has been over the last three months. The epithelial cells in your intestines last only about five days, and the live (dermal) part of your skin is replaced in about 2 weeks. Skeletal muscle and the rest of your intestines, on the other hand, are good for around 15 years.

But with few exceptions it is indeed true that most cells are in fact replaced. This is why you can get cancer; when there is an error in that replication the result can be a cell that has wildly damaged regulatory mechanisms on self-replication. If that damage kills the cell immediately then there’s no real foul, but if it leads to much more rapid reproduction…… that’s cancer. We have known for quite a while that viruses can and do in some cases infiltrate into DNA. We know this because we’ve found pieces of viral RNA in our genome and not a few of them either; they’re literally all over the human genomic code. It’s wildly improbable that said congruence happened by random alignment of the various codons in our genetic code; ergo, it got in there at some point in evolution and then got into either the eggs of a developing female fetus or the sperm of a male and thus propagated.

We only know, of course, about the integrations that weren’t fatal to offspring or the person in question. We also know that in general genetic mutation is harmful or fatal nearly all the time, so that we have said evidence in our genome means this sort of thing happens quite frequently and most of the time it screws the person who has it happen to them. Indeed some cancers are blamed on viral infections where the viral RNA gets transcribed into the DNA of the cells and causes said errors. mRNA is not really “new” technology; Moderna has been trying to make it work for cancer, for example, for a long time — without success. The reason for failure has always been dose-related toxicity that has overtaken the benefit when used in sufficient quantity to actually deliver a therapeutic effect. This is not an uncommon reason for drug and therapy failure; in fact that too happens all the time.

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Zelensky Montenegro

 

 

 

 

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

 

Feb 052020
 


DPC Pine Street below Kearney after the great San Francisco earthquake and fire 1906

 

China Applies For Drug Patent, Virus Death Toll +65 To 492 (SCMP)
Cruise Ship Carrying 3,700 Quarantined In Japan After 10 Test Positive (G.)
China’s Airlines Told Not To Axe Global Flights As Thousands Cut (R.)
Cathay Pacific Asks All 27,000 Employees To Take 3 Weeks Unpaid Leave (SCMP)
Trump-Pelosi Feud Erupts During SOTU As Impeachment Trial Nears End (R.)
Ocasio-Cortez Among 10 Democrats Planning To Boycott State Of The Union (G.)
Joe Biden Flopped In Iowa. And So Did The Democratic Party’s Reputation (G.)
The Big Tech Money Behind The App That Brought Chaos To The Iowa Caucus (F.)
Oil Flips Into Contango, Indicating Months Of Surplus (R.)
Britain To Ban New Petrol And Hybrid Cars From 2035 (R.)
Tesla Shares March Toward $1,000 (R.)
Musk’s Tesla Stake Worth $30 Billion After Electrifying Stock Surge (R.)
Council of Europe Sides With Julian Assange (IA)

 

 

Here we go again. The WuhanCorona virus continues on its record-setting path.

• Total cases 24,542 (+3872)

• 4,105 new cases in China (record daily high)

• 492 deaths (+65, also a record daily high)

• 185,555 cases under medical observation

Note: this pic below comes from a SCMP app that constantly updates. Numbers in articles do not necessarily. Therefore, they don’t always “add up”.

Note also the addition of recovered cases.

 

 

A few pics I picked up. How stark would you like it?

 

Here someone is trying to make the argument that the mortality rate is falling. That would be great, but I’m not sure it is true. Many factors have changed since the count began.

 

 

 

Gilead’s remdesivir looks like a Hail Mary. Not sure what the new patent application entails. A general anti-viral that came out of Ebola research?!

China Applies For Drug Patent, Virus Death Toll +65 To 492 (SCMP)

Daily deaths caused by the new coronavirus have reached yet another record high in China, with 65 fatalities – all in Hubei province – confirmed in overnight figures released by health authorities. The newly reported fatalities took the death toll in mainland China to 490. According to data released on Wednesday morning by China’s National Health Commission (NHC), confirmed cases around the country rose by 3,887 – also a daily record high – to 24,324, the majority of which were in Hubei, the epicentre of the outbreak. Cases of the novel coronavirus in Hubei rose by 3,156 to 16,678, according to provincial figures as of midnight on Tuesday. Almost 2,000 of those new cases were confirmed in Hubei’s capital of Wuhan, where the virus is believed to have originated at a seafood and meat market.

China has applied for a new patent on an experimental drug to treat the coronavirus. Wuhan Institute of Virology said in an online notice that a patent application had been filed on January 21 for the use of remdesivir, a drug developed by biopharmaceutical company Gilead Sciences. The drug has not been approved or licensed anywhere in the world, but has been rushed into trials in China after showing signs of effective use on coronavirus patients. Chinese scientists have found remdesivir – and chloroquine, an 80-year-old malaria drug – “highly effective” in laboratory studies aimed at thwarting the coronavirus, they said in a paper published on Tuesday in the journal Cell Research.

The two drugs’ effect on humans required further clinical tests, the Wuhan institute said in the online notice. It made the patent application in the national interest and would not exercise its patent rights if foreign pharmaceutical firms worked with China to curb the contagion, it said.

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The only people that can get off the ship are the ones that are confirmed infected. Hell on water.

One 80-year-old tested positive After leaving the ship. Then 273 were tested. When the first 31 results came in, 10 tested positive. That leaces 3,300 untested?

Cruise Ship Carrying 3,700 Quarantined In Japan After 10 Test Positive (G.)

Thousands of people face spending the next fortnight stuck on a luxury cruise ship quarantined off the Japanese port of Yokohama, after initial results showed 10 passengers have tested positive for the novel coronavirus. The Diamond Princess, with more than 3,700 passengers and crew onboard, had been prevented from sailing on Monday after an 80-year-old passenger who had travelled on the vessel late last month tested positive after he arrived home in Hong Kong. Of a further 273 people on board who have since been tested following health screenings, 31 results had come back – and of those 10 were positive, according to Japan’s health minister, Katsunobu Kato. It is not clear if more tests will be carried out.

Also on Wednesday, health checks began on 1,800 passengers and crew on a second cruise ship docked in Hong Kong, after 30 staff members reported symptoms including fever, according to Reuters. Hong Kong’s health department said that 90% of the passengers were Hong Kongers and no mainland Chinese were on board. Previously, three mainland Chinese that had been on the ship between 19 and 24 January, and were found to have contracted the virus. No passengers have been able to leave the World Dream ship, operated by Dream Cruises, without permission. David Abel, a British passenger who has been on the Diamond Princess for more than two weeks, said that people were now being confined to their cabins.

“We’re not even allowed to open the cabin door to go down the corridor. They bring the food to us – it’s a knock on the door. For the first time ever the crew are masked up,” he said. [..] Two Australians are among the 10 people who have tested positive, the cruise company Carnival confirmed. The other people infected are three Japanese, three from Hong Kong, one American and one Filipino crewmember. The patients, who are reportedly aged in their 50s to their 80s, were being removed from the ship by the coast guard and taken to local hospitals. The ship’s owner, Princess Cruises, said 3,711 people were aboard the ship, consisting of 2,666 guests and 1,045 crew. About half of the passengers are from Japan, with 223 Australians on the vessel.

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They’ll be stopped soon enough. There are no other options left.

China’s Airlines Told Not To Axe Global Flights As Thousands Cut (R.)

China’s civil aviation authority has urged domestic carriers to continue flying international routes as they consider cuts in response to a drop in demand due to the coronavirus outbreak, state news agency Xinhua reported on Tuesday. Airline capacity is being axed in the world’s second largest aviation market with “the most dramatic change in schedules”, OAG Aviation Worldwide Ltd said, adding that more than 25,000 flights to, from or within China will be canceled this week. The coronavirus epidemic, which has killed more than 400 people in China, has resulted in bans or restrictions on travel to and from China imposed by countries including Singapore and Italy. The World Health Organization’s director-general, Tedros Adhanom Ghebreyesus, had said travel bans were unnecessary.


The Civil Aviation Administration of China’s appeal to the country’s airlines was reported on Xinhua’s account on Chinese messaging app Weibo. Data from aviation statistics provider VariFlight showed 41 Chinese carriers canceled nearly two-thirds of the 16,623 planned flights for Tuesday as of 10:30 a.m. Beijing time (0230 GMT). In addition, 10 regional airlines from Hong Kong and Taiwan had canceled 162 flights, while 37 airlines from other countries canceled 168 flights on the same day, VariFlight said. It also said that some 90,000 flights were canceled between Jan. 10 and Feb. 3, and that about 10,000 planned flights on average have been scrapped each day since the start of February.

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But Hong Kong’s airline is not listening…

Cathay Pacific Asks All 27,000 Employees To Take 3 Weeks Unpaid Leave (SCMP)

Cathay Pacific is asking all of its 27,000 employees to take three weeks of unpaid leave over the coming months, the company’s CEO told staff on Wednesday, as Hong Kong’s flagship carrier reels from the devastating impact of the deadly coronavirus on air travel. “I am appealing to each and everyone one of you to help,” said Augustus Tang Kin-wing in a taped video recording. “The situation now is just as grave.” On Tuesday, Hong Kong’s flagship carrier unveiled massive cuts to flying schedules, by 30 per cent worldwide for two months, including in mainland China which would see 90 per cent of its capacity cut during that period.

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Grace, Nancy. It has a place. You lost your gamble, and the way you take your losses tells people a lot about you.

Trump-Pelosi Feud Erupts During SOTU As Impeachment Trial Nears End (R.)

A bitter feud between U.S. President Donald Trump and top Democrat Nancy Pelosi boiled over at his State of the Union speech on Tuesday, with Trump denying her a handshake and Pelosi ripping apart a copy of his remarks behind his back. Trump avoided the subject of his impeachment drama in a pugnacious 80-minute speech, but the raw wounds from the battle were evident with fellow Republicans giving him standing ovations while rival Democrats for the most part remained seated. The Republican-led Senate was expected to acquit him of charges he abused his powers and obstructed Congress during a vote beginning at 4 p.m. EST on Wednesday.


How some Republicans watched SOTU

Seeing Pelosi, the U.S. House of Representatives speaker, for the first time since she stormed out of a White House meeting four months ago, Trump declined to shake her outstretched hand as he gave her a paper copy of his remarks before starting to speak. Despite having not spoken to Trump since their last meeting, Pelosi appeared to be taken aback. She avoided citing the customary “high privilege and distinct honor” that usually accompanies the speaker’s introduction of the president to Congress. “Members of Congress, the President of the United States” was all she said in introducing Trump.


When his speech ended, Pelosi stood and tore up her copy of the remarks he had handed her, later telling reporters it was “the courteous thing to do, considering the alternative.” Kayleigh McEnany, Trump’s campaign spokeswoman, said of Pelosi: “Her hatred for @realdonaldtrump has blinded her to the repulsive nature of her smug, elitist behavior.” After the event, Pelosi tweeted a photo of her with her hand reaching out to Trump and said, “Democrats will never stop extending the hand of friendship to get the job done #ForThePeople. We will work to find common ground where we can, but will stand our ground where we cannot. #SOTU”

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Preaching only to her own little crowd, empty virtue signals. Same as Pelosi: grace has its place.

Ocasio-Cortez Among 10 Democrats Planning To Boycott State Of The Union (G.)

At least 10 Democrats have said they will boycott Donald Trump’s State of the Union address on Tuesday night on the eve of a Senate impeachment trial vote that is expected to acquit him. Congresswoman Alexandria Ocasio-Cortez, of New York, said she would not be attending because she did not want to normalize Trump’s “lawless conduct” and “subversion of the constitution”. Ayanna Pressley of Massachusetts issued a statement explaining her decision, saying: “The State of the Union is hurting because of the occupant of the White House, who consistently demonstrates contempt for the American people, contempt for Congress, and contempt for our constitution – strong-arming a sham impeachment trial in the Senate. This presidency is not legitimate.”


“On the eve of Senate Republicans covering up transgressions and spreading misinformation, I cannot in good conscience attend a sham State of the Union when I have seen firsthand the damage Donald J Trump’s rhetoric and policies have inflicted on those I love and those I represent.” Both women attended Trump’s State of the Union speech last year just a month after taking office, but have since been the target of his racist attacks. The two other members of “the Squad” of progressive freshman congresswomen who were also subjected to those attacks, Rashida Tlaib of Michigan and Ilhan Omar of Minnesota confirmed they would attend the address.

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Biden is gone. Buttigieg is suspicious. It’s not about the party’s reputation anymore, it’s about the Party itself.

Joe Biden Flopped In Iowa. And So Did The Democratic Party’s Reputation (G.)

If you’re the type of person who thinks the Democratic party is a creaking, incompetent entity whose leadership needs overthrowing, the Iowa caucuses certainly validated your point of view. None of us knew who would win, but we had at least expected a result. We didn’t get one, at least not on caucus night. State Democratic party officials announced that due to “quality control” issues, release of the result would be indefinitely delayed. On a conference call with representatives of the candidates, party officials hung up the phone when asked when the totals would be released. So what do we know? Well, one thing we can say confidently is that “frontrunner” Joe Biden flopped.

There were places where Biden didn’t even meet the 15% threshold needed to maintain viability from the first round to the second round – at one caucus site, the attorney general of Iowa had to switch from Biden to Buttigieg when Biden was disqualified. It explains why Biden’s surrogate John Kerry was heard on the phone the other day asking whether it would be possible for him to enter the race at the last minute to save the Democratic party from being conquered by Sanders. Internal numbers released by the Sanders campaign, showing results from 40% of caucus sites, showed Sanders winning with approximately 30% of the vote, Pete Buttigieg coming in second with 25%, Elizabeth Warren third with 21%, and Joe Biden a very distant fourth with 12%.

If those numbers match the ultimate totals, they are great for Sanders and absolutely horrific for Biden. Sanders will have kicked the crap out of the frontrunner, Barack Obama’s former vice-president and the man most favored to win the nomination. It would be a stunning upset. But Biden caught a lucky break. With the party not releasing the actual result, his campaign sent a letter demanding that the result be suppressed until such time as the “quality control issues” were resolved. If it takes long enough to get the official count, Biden may hope that Iowa is old news, or that the issues surrounding the caucus are discussed far more than the actual result. (That’s one reason we need to make sure we don’t get bogged down too much in talking about the procedural issues rather than the actual outcome.)

[..] If you’re a Sanders supporter, you have reason to be suspicious. We had already seen the Des Moines Register suppress the results of its “gold standard” poll on the eve of the election, after a complaint from Buttigieg. And with 0% of caucus results in, Buttigieg declared himself “victorious”, praising the “incredible result” and saying Iowa had “shocked the nation”. The only thing that had shocked the nation at this point was Iowa’s total inability to perform the relatively simple task of counting people’s votes. But Buttigieg, good McKinseyite that he is, was getting a head start on deploying the PR spin.

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“..cutting-edge technology to stymie a Trump re-election..”

The Big Tech Money Behind The App That Brought Chaos To The Iowa Caucus (F.)

The smartphone app that caused a major delay in reporting results during Iowa’s Democratic caucus was funded by both Democratic presidential candidates and Silicon Valley veterans anxious to use cutting-edge technology to stymie a Trump re-election. The app that was supposed to count and report caucus results was created by Shadow Inc., a for-profit tech company cofounded in February 2019 by former Google engineer Kirsta Davis and Gerard Niemira, an engineer who worked at San Francisco microlender Kiva.org. Both later worked on Hillary Clinton’s failed 2016 presidential campaign.


Washington D.C.-based Shadow was acquired last year by Acronym, a nonprofit also based in D.C. and founded in March 2017 by former journalist Tara McGowan to advance “progressive causes through innovative communications, advertising and organizing programs.” It has an affiliated political action committee called Pacronym. Silicon Valley heavyweights make up the liberal-leaning roster of Pacronym’s backers. One supporter is billionaire Michael Moritz, a partner at Sequoia Capital, whose net worth of $4.1 billion stems from his early bets on Google, LinkedIn and PayPal. According to Federal Election Committee data, he gave $1 million to Pacronym, or 12.8% of the $7.8 million that it has raised since early 2019.

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Mighty OPEC loses to tiny virus.

Oil Flips Into Contango, Indicating Months Of Surplus (R.)

The oil market looks set for at least four months of depressed demand because of China’s coronavirus outbreak, with a large crude surplus not expected to clear at least until August, analysts and traders said. Fears of a virus-related slump in global energy demand have flipped the market into contango this week – a structure in which longer-dated oil futures trade at a premium that encourages traders to keep crude in storage for more profitable resale in the future. Brent crude has not been in contango since July 2019. On Tuesday the benchmark was in contango for as much as $0.40 a barrel between prices for closest trading month April and August. For U.S. West Texas Intermediate (WTI) crude the contango between March and July prices was $0.60 a barrel.

The structure of the market has significant implications. Besides encouraging storage of oil, contango also hurts financial investors who have to pay a premium every month they renew a futures contract. [..] Goldman Sachs, meanwhile, said the flip of time spreads into contango is consistent with the physical market suddenly shifting into a large surplus. “While deferred Brent time spreads are too discounted in our view, evidence that Chinese refiners are pushing back on crude shipments and Atlantic loadings points to ongoing weakness for nearby Brent time spreads,” Goldman said in a market note. China has been the main driver of global energy demand growth in recent years and ING Bank said the market is clearly worried that Chinese refinery demand will retreat.

“The issue for the market is if travel restrictions continue for an extended period … demand loss will become increasingly difficult for the market to swallow,” ING said, adding OPEC+ could come under increasing pressure to cut output by more than laid out in their existing supply pact.

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Until you have been explained exactly where the electricity will come from, this is nothing but a swindle. Do you like being swindled?

Britain To Ban New Petrol And Hybrid Cars From 2035 (R.)

Britain will ban the sale of new petrol, diesel and hybrid cars from 2035, five years earlier than planned, in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine. The step amounts to a victory for electric cars that if copied globally could hit the wealth of oil producers, as well as transform the car industry and one of the icons of 20th Century capitalism: the automobile itself. Prime Minister Boris Johnson is seeking to use the announcement to elevate the United Kingdom’s environmental credentials after he sacked the head of a Glasgow U.N. Climate Change Conference planned for November known as COP26.


“We have to deal with our CO2 emissions,” Johnson said at a launch event for COP26 at London’s Science Museum on Tuesday. “As a country and as a society, as a planet, as a species, we must now act.” The government said that, subject to consultation, it would end the sale of new petrol, diesel and hybrid cars and vans in 2035, or earlier if a faster transition was possible. Countries and cities around the world have announced plans to crack down on diesel vehicles following the 2015 Volkswagen emissions scandal and the EU is introducing tougher carbon dioxide rules. The mayors of Paris, Madrid, Mexico City and Athens have said they plan to ban diesel vehicles from city centres by 2025. France is preparing to ban the sale of fossil fuel-powered cars by 2040.

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Trading hot air.

Tesla Shares March Toward $1,000 (R.)

Shares of Tesla Inc surged 20% on Tuesday to hit $940, extending a stunning rally that has more than doubled the company’s market value since the start of the year as more investors bet on Chief Executive Elon Musk’s vision. The latest surge was partly fueled by Panasonic saying on Monday its automotive battery venture with Tesla was in the black for the first time. “Investors are now starting to believe that Tesla can make mass-volume electric vehicles, and automakers, battery makers and suppliers can make money from EVs,” said Cho Hyun-ryul, analyst at Samsung Securities. Some analysts have attributed the rally to short covering as well. Short interest in Tesla stood at 13.8% as of Jan. 30, according to Refinitiv data.


Shares of heavily shorted companies can at times get pushed higher as traders rush to buy stock to cover their short bets, triggering what is known as a “short squeeze”. Panasonic shares closed up 10%, while those of Tesla’s Asian suppliers South Korea’s LG Chem and China’s CATL also closed higher. Tesla’s surge on Tuesday valued the company at nearly $170 billion, nearly double the combined market capitalization of General Motors and Ford Motor. Tesla last week reported a second consecutive quarterly profit and said it would comfortably make more than half a million vehicles this year. Billionaire investor Ron Baron, whose firm holds a nearly 1% stake in Tesla, said he will not be selling a single Tesla share, adding he believes the carmaker could hit $1 trillion in revenue in 10 years.

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Fridges for Inuit.

Musk’s Tesla Stake Worth $30 Billion After Electrifying Stock Surge (R.)

Tesla is making Elon Musk a lot richer without paying him a dime. A blistering stock rally has bolstered the value of CEO Musk’s 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion. Tuesday’s steep climb in the share price could sweeten Musk’s payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion. The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.


Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018. That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co and BMW. Tesla shares have climbed about 400% since early June, helped by the company’s better-than-expected financial results and ramped-up production at its new car factory in Shanghai. [..] Musk’s Tesla stake worth $30 billion after electrifying stock surge

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Now apply the Force.

Council of Europe Sides With Julian Assange (IA)

The attitude of European institutions is changing after years of silence. In this case, it was Andrej Hunko and Gianni Marilotti that convinced the European Assembly to speak up. The moment that press freedom advocates have been waiting for so long has finally arrived. The European institutions are starting to officially state that they don’t want Julian Assange to be extradited to the U.S. The Parliamentary Assembly of the Council of Europe (PACE) has become the first one to step in and call for Assange’s immediate release, joining the call of the United Nations Special Rapporteur on Torture, Nils Melzer, who some months ago clearly stated that Assange should walk free.

The call was made on the 28th of January, 2020, when the PACE was debating on a resolution for the Member States included in a report on Threats to Media Freedom and Journalists’ Security in Europe. Drafted by the Labour member of the British House of Lords, George Foulkes, the document opens stating that the Council of Europe and its Assembly are firmly committed to strengthening media freedom in all its aspects, including the right to access to information, the safeguard of editorial independence and of ‘the ability to investigate, criticise and contribute to public debate without fear of pressure or interference’. Several amendments to the report were proposed inside the PACE Committee on Culture, Science, Education and Media, and Lord Foulkes, who is part of it, was happy to accept the one on Assange.

Lord Foulkes said: “UK colleagues supported it because we don’t want to see him extradited by the UK Government to the United States and facing centuries in prison.” The Council of Europe is the continent’s leading institution on human rights and includes 47 member states, 28 of which are also part of the European Union. What this Parliamentary Assembly, made up of members of national legislatures says about freedom of the press is something civil society should take notice of. In this light, you would hope that the work of Wikileaks and his founder can hardly be forgotten. Or maybe it could — it seemed to be surprisingly off the agenda until some weeks ago, but January 2020 seems to have marked a change of course.

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Every color is home to 1 billion people. Find Wuhan on the map.

 

 

 

Please donate what you can.

 

Feb 062019
 


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

 

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

 

 

At least they all agree on Venezuela.

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

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

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

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

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

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

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

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

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

Too Fast, Too Furious (Roberts)

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

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

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

Elizabeth Warren Apologizes For Identifying As Native American (MW)

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

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

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

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

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

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

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

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

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

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

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

China: Expansion, Stagnation and Decline (CHSmith)

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

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

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

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

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

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

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

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

Judge Pauses Lawsuits Against Cryptocurrency Company Quadriga (R.)

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

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

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The riches of smartphones.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Jan 312018
 


Paul Gauguin Farm in Brittany 1894

 

Market Euphoria May Turn to Despair If 10-Year Yield Jumps to 3% (BBG)
Forget Stocks, Look At EU Bonds – They Are The Real Problem (Luongo)
The Ticking Time Bomb in the Municipal-Bond Market (Barron’s)
UK Interest-Only Mortgagees Are at Risk of Losing Their Homes
US National Debt Will Jump by $617 Billion in 5 Months (WS)
Trump Urges Congress To Pass $1.5 Trillion In Infrastructure Spending (R.)
Trump Joins Bezos, Dimon, Buffett In Pledge To Stop Soaring Drug Prices (MW)
Trump Says ‘100%’ After He’s Asked to Release GOP Memo (BBG)
Saving Rate Drops to 12-Year Low As 50% of Americans Don’t Have Savings (WS)
U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether (BBG)
Customer Lawsuits Pummel Spanish Banks (DQ)
Britons Ever More Deeply Divided Over Brexit (R.)
The GDP of Bridges to Nowhere (Michael Pettis)

 

 

If central banks and governments have really lost control over bonds, find shelter.

Market Euphoria May Turn to Despair If 10-Year Yield Jumps to 3% (BBG)

It’s getting harder and harder to quarantine the selloff in Treasuries from equities and corporate bonds. The benchmark 10-year U.S. yield cracked 2.7% on Monday, rising to a point many forecasters weren’t expecting until the final months of 2018. For over a year, range-bound Treasuries helped keep financial markets in a Goldilocks state, with interest rates slowly rising due to favorable forces like stronger global growth and the Federal Reserve spearheading a gradual move away from crisis-era monetary policy. Yet the start of 2018 caught many investors off guard, with the 10-year yield on pace for its steepest monthly increase since November 2016. It’s risen 30 basis points this year and reached as high as 2.73% in Asian trading Tuesday.

Suddenly, they’re confronted with thinking about what yield level could end the good times seen since the presidential election. For many, 3% is the breaking point at which corporate financing costs would get too expensive, the equity market would lose its luster and growth momentum would fade. “We are at a turning point in the psyche of markets,” said Marty Mitchell, a former head government bond trader at Stifel Nicolaus & Co. and now an independent strategist. “A lot of people point to 3% on the 10-year as the critical level for stocks,” he said, noting that higher rates signal traders are realizing that quantitative easing policies really are on the way out.

U.S. stocks have set record after record, buoyed by strong corporate earnings, President Donald Trump’s tax cuts and easy U.S. financial conditions. The S&P 500 Index has returned around 6.8% this year, once reinvested dividends are taken into account, and the U.S. equity benchmark is already higher than the level at which a Wall Street strategists’ survey last month predicted it would end 2018. What often goes unsaid in explaining the equity-market exuberance is that Treasury yields refused to break higher last year. Instead, they remained in the tightest range in a half-century, allowing companies to borrow cheaply and forcing investors to seek out riskier assets to meet return objectives.

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It’s all bonds, not even just sovereign bonds. Investors will move from equities into bonds all over the place.

Forget Stocks, Look At EU Bonds – They Are The Real Problem (Luongo)

While all the headlines are agog with stories about the Dow Jones dropping a couple hundreds points off an all-time high, German bunds are getting killed right before our eyes. The Dow is simply a market overdue for a meaningful correction in a primary bull market. And it’s a primary bull market brought on by a slow-moving sovereign debt crisis that will engulf Europe. It’s not the end of the story. Hell, the Dow isn’t even a major character in the story. In fact, similar stories are being written in French 10 year debt, Dutch 10 year debt, and Swiss 10 year debt. These are the safe-havens in the European sovereign debt markets. Meanwhile, Italian 10 year debt? Still range-bound. Portuguese 10 year debt? Near all-time high prices. The same this is there with Spain’s debt. All volatility stamped out. Why? Simple. The ECB.

The ECB’s quantitative easing program and negative interest rate policy (NIRP) drove bond yields across the board profoundly negative for more than a year. [..] the ECB is trapped and cannot allow rates to rise in the vulnerable sovereign debt markets — Italy, Portugal, Spain — lest they face bank failures and a real crisis. The problem with that is, the market is scared and so they are selling the stuff the ECB isn’t buying – German, French, Dutch, Swiss debt. In simple terms, we are seeing the flight into the euro intensify here as investors are raising cash. The euro and gold are up. The USDX continues to be weak even though capital is pouring into the U.S. thanks to fundamental changes to tax and regulatory policy under President Trump. In the short term Dow Jones and S&P500 prices are overbought. Fine. Whatever. But, the real problem is not that. The real problem is the growing realization in the market that governments and central banks do not have an answer to the debt problem.

[..] The U.S. economy is about to be unleashed by Trump’s tax cut law. It will be able to absorb higher interest rates for a while. Yield-starved pension funds, as Armstrong rightly points out, will be bailed out slightly forestalling their day of reckoning. And in doing so, higher rates in the U.S. are driving core-rates higher in Europe. An overly-strong euro is crushing any hope of further economic recovery in the periphery, like Italy. The debt load on Italy et.al. has increased relative to their national output by around 20% since the end of 2016. This will put the ECB at risk of a massive loss of confidence when Italian banks start failing, Italy’s budget deficit starts expanding again and hard-line euroskeptics win the election in March. As capital is drained out of Europe into U.S. equities, the dollar, gold and cryptocurrencies, things should begin to spiral upwards rapidly.

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See? More bonds. Meredith Whitney was 10 years early.

The Ticking Time Bomb in the Municipal-Bond Market (Barron’s)

There’s a looming disaster in the market for municipal debt. Every market participant knows about it, and there isn’t much any of them can do about it. Many state and local governments, even more than corporations, have promised generous pensions they can’t afford. The promises may have looked plausible in the past, especially during the dot-com boom, when money that pension funds put in the markets was doubling. When the market crashed, so did their returns—and, a few years later, the global financial crisis took out another substantial chunk. And with interest rates at historic lows, bonds have failed to deliver the income the funds relied on. While governments delay dealing with the problem as long as they can, analysts and researchers are wondering if we have reached the point of no return. For investors in municipal bonds, it could mean future defaults and losses.

“We are increasingly wary of high pension exposure, especially among state and local credits,” the Barclays muni-research team wrote this month, citing “inflated return targets, low funded ratios, growing obligations, perhaps heavy allocations to equities and compressed tax revenues make for especially adverse conditions.” What’s more, “short-term investment gains won’t be sufficient to plug liability gaps.” Yet many pensions still assume they will be able to generate the returns they saw in the past. New Jersey’s pension and the California Public Employees’ Retirement System have lowered their assumed rate of return to 7%. But with the 30-year Treasury yielding less than 3% and stocks already at record highs, it’s unclear how public markets can generate 7%—which is why many pensions have turned to higher-risk, lower-liquidity strategies, such as private equity.

Muni investors, for their part, are increasingly sensitive to pensions’ widening gap. After the financial crisis and the ensuing recession, they suddenly became interested in pension finances. A report late last year by the Center for Retirement Research at Boston College found that, as pension liabilities grew, spreads between state and local municipal bonds and Treasuries also increased. When such issuers came to issue new debt, they discovered the market was charging them more to borrow. “Pensions have become increasingly relevant to the municipal bond markets and can have a meaningful impact on the borrowing costs of a municipality,” the report says.

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Rising bond yields mean higher mortgage rates. Australia is overflowing with interest only loans. Plenty other countries have loads of it too.

UK Interest-Only Mortgagees Are at Risk of Losing Their Homes

Some borrowers with interest-only mortgages may lose their homes as a result of shortfalls in repayment plans, the U.K.’s Financial Conduct Authority warned. The FCA has identified three peaks in interest-only mortgage repayments, the first of which is currently underway. Defaults are less likely in the present wave of maturities because the homeowners are approaching retirement and have higher incomes. The next two peaks, from 2027 through 2028 and in 2032, are more at risk of shortfalls, the regulator said. Customers are reluctant to discuss with their lenders how they’ll pay off the loans, limiting their options, the FCA found. Almost 18% of outstanding mortgages in the U.K. are interest-only or involve only partial payment of the capital, according to the statement.

“Since 2013, good progress has been made in reducing the number of people with interest-only mortgages,” Jonathan Davidson, executive director of supervision retail and authorization at the regulator, said in a statement. “However, we are very concerned that a significant number of interest-only customers may not be able to repay the capital at the end of the mortgage and be at risk of losing their homes.” The FCA reviewed 10 lenders representing about 60% of the interest-only mortgage market for the study. The supervisor also urged lenders to review and improve their own strategies regarding repayment of the loans.

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Now add some infrastructure.

US National Debt Will Jump by $617 Billion in 5 Months (WS)

While everyone is trying to figure out how to twist the new tax cut to their advantage and save some money, the US Treasury Department just announced how much net new debt it will have to sell to the public through the second quarter to keep the government afloat: $617 billion. That’s what the Treasury Department estimates will be the total amount added to publicly traded Treasury securities — or “net privately-held marketable borrowing” — through the end of the second quarter. This will be the net increase in the US debt through the end of Q2. By quarter: During Q1, the Treasury expects to increase US public debt by $441 billion. It includes estimates for “lower net cash flows.” During Q2 – peak tax seasons when revenues pour into the Treasury – it expects to increase US public debt by $176 billion.

It also “assumes” that with these increases in the debt, it will have a cash balance at the end of June of $360 billion. So over the next five months, if all goes according to plan, the US gross national debt of $24.5 trillion currently – which includes $14.8 trillion in publicly traded Treasury securities and $5.7 trillion in internally held debt – will surge to about $25.1 trillion. That’s a 4% jump in just five months. Note the technical jargon-laced description for this (marked in green on the chart). The flat lines in 2013, 2015, and 2017 are a result of the prior three debt-ceiling fights. Each was followed by an enormous spike when the debt ceiling was lifted or suspended, and when the “extraordinary measures” with which the Treasury keeps the government afloat were reversed. And note the current debt ceiling, the flat line that started in mid-December.

In November, Fitch Ratings said optimistically that, “under a realistic scenario of tax cuts and macro conditions,” the US gross national debt would balloon to 120% of GDP by 2027. The way things are going right now, we won’t have to wait that long. Back in 2012, gross national debt amounted to 95% of GDP. Before the Financial Crisis, it was at 63% of GDP. At the end of 2017, gross national debt was 106% of GDP! Over the next six month, the debt will grow by about 4%. Unless a miracle happens very quickly, the debt will likely grow faster over the next five years due to the tax cuts than over the past five years. But over the past five years, the gross national debt already surged nearly 25%, or by $4.1 trillion. So that’s a lot of borrowing, for an economy that is growing at a decent clip.

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Coverage of SOTU proves my point: Moses split the nation.

As for infrastructure, they will go for what provides most short term gain. That is, make people pay. For roads, not public transport, for instance.

Trump Urges Congress To Pass $1.5 Trillion In Infrastructure Spending (R.)

President Donald Trump called on the U.S. Congress on Tuesday to pass legislation to stimulate at least $1.5 trillion in new infrastructure spending. In his State of the Union speech to Congress, Trump offered no other details of the spending plan, such as how much federal money would go into it, but said it was time to address America’s “crumbling infrastructure.” Rather than increase federal spending massively, Trump said: “Every federal dollar should be leveraged by partnering with state and local governments and, where appropriate, tapping into private-sector investment.” The administration has already released an outline of a plan that would make it easier for states to build tollways and to privatize rest stops along interstate highways.

McKinsey & Company researchers say that $150 billion a year will be required between now and 2030, or about $1.8 trillion in total, to fix all the country’s infrastructure needs. The American Society of Civil Engineers, a lobbying group with an interest in infrastructure spending, puts it at $2 trillion over 10 years. Trump said any infrastructure bill needed to cut the regulation and approval process that he said delayed the building of bridges, highways and other infrastructure. He wants the approval process reduced to two years, “and perhaps even one.” Cutting regulation is a top priority of business lobbying groups with a stake in building projects and the U.S. Chamber of Commerce.

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Just the kind of folk you want in charge of your health. With your medical needs standing in the way of their profits.

Trump Joins Bezos, Dimon, Buffett In Pledge To Stop Soaring Drug Prices (MW)

President Trump pledged to bring down drug prices. “One of my greatest priorities is to reduce the price of prescription drugs,” Trump said during his State of the Union address on Tuesday evening. “In many other countries, these drugs cost far less than what we pay in the United States and it’s over, very unfair. That is why I have directed my administration to make fixing the injustice of high drug prices one of our top priorities for the year.” Mark Hamrick, Washington, D.C. bureau chief at Bankrate.com, said the president has made that promise before. “Will his choice of a former drug industry executive, Alex Azar, now the head of Health and Human Services, deliver results on that front?” he said. “I’d prefer to place my bet on the partnership just announced by Berkshire Hathaway, J.P. Morgan Chase and Amazon.”

Earlier Tuesday, Amazon, Berkshire Hathaway and JP Morgan Chase, three of the biggest companies in the U.S., surprised the health-care industry on Tuesday with a plan to form a company to address rising health costs for their U.S. employees. They said it will be “free from profit-making incentives and constraints.” Health-care costs have skyrocketed over the last 60 years, according to the Kaiser Family Foundation, a nonprofit, private foundation based in Washington, D.C. In 1960, hospital costs cost $9 billion. In 2016, they cost $1.1 trillion. In 1960, physicians and clinics costs were $2.7 billion, but ballooned to $665 billion. Prescription drug prices soared from $2.7 billion in 1960 to $329 billion. U.S. health-care spending reached $3.3 trillion, or $10,348 per person in 2016.

The Trump administration has pledged to roll back the 2010 Affordable Care Act, perhaps Barack Obama’s signature achievement as U.S. president. Roughly 1 million people will lose their insurance under Trump’s plans, according to the Congressional Budget Office. Berkshire Hathaway chairman and CEO Warren Buffett didn’t hold back in excoriating the health-care industry. “The ballooning costs of health care act as a hungry tapeworm on the American economy,” Buffett said. Amazon founder CEO Jeff Bezos and J.P. Morgan Chase chairman and CEO Jamie Dimon were more measured in their remarks. “Amazon, Chase and Berkshire Hathaway think they can do it better than the insurance companies,” said Jamie Court, president of Consumer Watchdog. “There’s a lot of frustration with the high cost of health insurance, yet government’s offering almost no systemic solutions. It’s as big a change as I have seen in the market in years.”

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Just do it?! Perhaps it makes sense not to release it before SOTU, it would have been the only talking point.

Trump Says ‘100%’ After He’s Asked to Release GOP Memo (BBG)

President Donald Trump was overheard Tuesday night telling a Republican lawmaker that he was “100%” planning to release a controversial, classified GOP memo alleging bias at the FBI and Justice Department. As he departed the House floor after delivering his State of the Union address, C-SPAN cameras captured Representative Jeff Duncan, a South Carolina Republican, asking Trump to “release the memo.” Republican lawmakers say the four-page document raises questions about the validity of the investigation into possible collusion between Trump’s campaign and Russia, now led by Special Counsel Robert Mueller. “Oh yeah, don’t worry, 100%,” Trump replied, waving dismissively. “Can you imagine that? You’d be too angry.”

Republicans in the House moved to release the memo, authored by House Intelligence Chairman Devin Nunes, in a party-line vote on Monday. The move has been opposed by Democrats, who argue the memo gives an inaccurate portrayal of appropriate actions undertaken by law enforcement, and by the Justice Department, which has said it should remain classified. Releasing the memo has become a cause for conservative congressional Republicans, who say the FBI and the Justice Department pursued the investigation of possible Russian ties to the Trump presidential campaign under false pretenses. Trump has as many as five days to review the document for national security concerns, and White House officials insisted earlier Tuesday he hadn’t yet seen the document.

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Talk about your American Dream: “..households are living paycheck-to-paycheck even if those paychecks are reasonably large and even if life is comfortable at the moment.”

Saving Rate Drops to 12-Year Low As 50% of Americans Don’t Have Savings (WS)

In terms of dollars, personal saving dropped to a Seasonally Adjusted Annual Rate of $351.6 billion, meaning that at this rate in December, personal savings for the whole year would amount to $351.6 billion. This is down from the range between $600 billion and $860 billion since the end of the Financial Crisis. But who is – or was – piling up these savings? Numerous surveys provide an answer, with variations only around the margins. For example, the Federal Reserve found in its study of US households: Only 48% of adults have enough savings to cover three months of expenses if they lost their income. An additional 22% could get through the three-month period by using a broader set of resources, including borrowing from friends and selling assets. But 30% would not be able to manage a three-month financial disruption. 44% of adults don’t have enough savings to cover a $400 emergency and would have to borrow or sell something to make ends meet.

Folks who had experienced hardship were more likely to resort to “an alternative financial service” such as a tax refund anticipation loan, pawn shop loan, payday loan, auto title loan, or paycheck advance, which are all very expensive. Similarly, Bankrate found that only 39% of Americans said they’d have enough savings to be able to cover a $1,000 emergency expense. They rest would have to borrow, sell, cut back on spending, or not deal with the emergency expense. All these surveys say the same thing: about half of Americans have little or no savings though many have access to some form of credit, including credit cards, pawn shops, payday lenders, or relatives. So what does it mean when the “saving rate” declines?

Many households spend more than they make. For them, the personal saving rate is a negative number. This negative personal saving rate translates into borrowing, which explains the 5.7% year-over-year surge in credit card debt, and the 5.5% surge in overall consumer credit. It boils down to this: most of the positive saving rate, with savings actually increasing, takes place at the top echelon of the economy – at the top 40%, if you will – where households are flush with cash and assets and where the saving rate is very large. But the growth in borrowing for consumption items (the negative saving rate) takes place mostly at the bottom 60%, where households are living paycheck-to-paycheck even if those paychecks are reasonably large and even if life is comfortable at the moment.

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Peculiar: $2.3 billion ‘worth’ of a dollar-pegged ‘currency’, backed by nothing much in proof.

U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether (BBG)

U.S. regulators are scrutinizing one of the world’s largest cryptocurrency exchanges as questions mount over a digital token linked to its backers. The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to virtual-currency venue Bitfinex and Tether, a company that issues a widely traded coin and claims it’s pegged to the dollar, according to a person familiar with the matter, who asked not to be identified discussing private information. The firms share the same chief executive officer. Tether’s coins have become a popular substitute for dollars on cryptocurrency exchanges worldwide, with about $2.3 billion of the tokens outstanding as of Tuesday.

While Tether has said all of its coins are backed by U.S. dollars held in reserve, the company has yet to provide conclusive evidence of its holdings to the public or have its accounts audited. Skeptics have questioned whether the money is really there. “We routinely receive legal process from law enforcement agents and regulators conducting investigations,” Bitfinex and Tether said Tuesday in an emailed statement. “It is our policy not to comment on any such requests.” Bitcoin, the biggest cryptocurrency by market value, tumbled 10% on Tuesday. It fell another 3.2% to $9,766.41 as of 9:19 a.m. in Hong Kong, according to composite pricing on Bloomberg. The virtual currency hasn’t closed below $10,000 since November.

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Who’s aiding Spain in keeping its problems hidden? 30,000 complaints in 9 months, and the ECB is silent?!

Customer Lawsuits Pummel Spanish Banks (DQ)

Following a succession of consumer-friendly rulings, bank customers in Spain are increasingly taking their banks to court. And many of them are winning. Last year an unprecedented wave of litigation against banks forced the Ministry of Justice to set up dozens of courts specialized in mortgage matters to prevent the collapse of the rest of the national judicial system. The Bank of Spain, according to its own figures, received 29,957 complaints from financial consumers between January and September 2017 — already double that of the previous year and by far the highest number of complaints registered since 2013, a record year when investors and customers were desperately trying to claw back the money they’d lost in the preferred shares that issuing banks had pushed on their own customers as savings products.

In 2017, eight out of 10 complaints related to one key product: mortgages, and in particular the so-called “floor clauses” contained within them. These floor clauses set a minimum interest rate — typically of between 3% and 4.5% — for variable-rate mortgages, even if the Euribor dropped far below that figure. This, in and of itself, was not illegal. The problem is that most banks failed to properly inform their customers that the mortgage contract included such a clause. Those that did, often told their customers that the clause was an extreme precautionary measure and would almost certainly never be activated. After all, they argued, what are the chances of the Euribor ever dropping below 3.5% for any length of time? At the time (early 2009), Europe’s benchmark rate was hovering around the 5% mark.

Within a year it had crashed below 1% and has been languishing at or below zero ever since. As a result, most Spanish banks were able to enjoy all the benefits of virtually free money while avoiding one of the biggest drawbacks: having to offer customers dirt-cheap interest rates on their variable-rate mortgages. But all that came to a crashing halt in May 2013 when Spain’s Supreme Court ruled that the floor clauses were abusive and that the banks must reimburse all the funds they’d overcharged their mortgage customers — but only from the date of the ruling! Then, on December 21, 2016, the European Court of Justice (ECJ) delivered a further hammer blow when it acknowledged the right of homeowners affected by “floor clauses” to be reimbursed money dating back to when the mortgage contract was first signed. Since the ECJ ruling, law firms are now so confident of winning floor-clause cases that they’re even offering no win, no-fee deals.

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US and UK suffer from the exact same problem.

Britons Ever More Deeply Divided Over Brexit (R.)

The social divide revealed by Britain’s 2016 vote to leave the European Union is not only here to stay but deepening, according to academic research published on Wednesday. Think tank The UK in a Changing Europe said Britons were unlikely to change their minds about leaving the EU, despite the political and economic uncertainty it has brought, because attitudes are becoming more entrenched. “The (Brexit) referendum highlighted fundamental divisions in British society and superimposed a leave-remain distinction over them. This has the potential to profoundly disrupt our politics in the years to come,” said Anand Menon, the think tank’s director.

Britain is negotiating a deal with the EU which will shape future trade relations, breaking with the bloc after four decades, but the process is complicated by the divisions within parties, society and the government itself. Menon said the research, based on a series of polls over the 18-month period since Britain voted to leave the European Union, showed 35% of people self-identify as “Leavers” and 40% as “Remainers”. Research also found that both sides had a tendency to interpret and recall information in a way that confirmed their pre-existing beliefs which also added to the deepening of the impact of the vote. The differences showed fragmentation was more determined by age groups and location than by economic class.

Polls have shown increasing support for a second vote on whether or not to leave the European Union once the terms of departure are known, but such a vote would not necessarily provide a different result, a poll by ICM for the Guardian newspaper indicated last week. The report also showed that age was a better pointer to how Britons voted than employment. Around 73% of 18 to 24-year-olds voted to stay in the EU, but turnout among that group was lower than among older voters. “British Election Study surveys have suggested that, in order to have overturned the result, a startling 97% of under-45s would have had to make it to the ballot box, as opposed to the 65% who actually voted,” the report said.

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How China hides debt through swaps. As US and EU have done for ages now.

The GDP of Bridges to Nowhere (Michael Pettis)

In most economies, GDP growth is a measure of economic output generated by the performance of the underlying economy. In China, however, Beijing sets annual GDP growth targets it expects to meet. Turning GDP growth into an economic input, rather than an output, radically changes its meaning and interpretation. On January 18, 2018, China’s National Bureau of Statistics announced that the country’s GDP grew by 6.9% in 2017. A day earlier, the People’s Bank of China (PBoC) announced that total social financing (TSF) in 2017 had increased to 19.44 trillion renminbi.

[..] I was recently part of a discussion on a listserv that brings together Chinese and foreign experts to exchange views on China-related topics. What set off this discussion was a claim that the Chinese economy began to take deleveraging seriously in 2017. Everyone agreed that debt in China is still growing far too quickly relative to the country’s debt-servicing capacity, but the pace of credit growth seems to have declined in 2017, even as real GDP growth held steady and, more importantly, nominal GDP growth increased. I was far more skeptical than some others about how to interpret this data. It is not just the quality of data collection that worries me, but, more importantly, the prevalence in China of systemic biases in the way the data is collected. Not all debt is included in TSF figures. The table above, for example, indicates a fall in TSF in 2015, but this did not occur because China’s outstanding credit declined.

[..] in 2015 there was a series of debt transactions (mainly provincial bond swaps aimed at reducing debt-servicing costs and extending maturities) that extinguished debt that had been included in the TSF category and replaced it with debt not included in TSF. The numbers are large. According to the China Daily, there were 3.2 trillion renminbi worth of bond swaps in 2015, plus an additional 600 billion renminbi of new bonds issued. If we adjust TSF by adding these back, rather than indicate a decline of 6.4%, we would have recorded an increase of 15.7%. [..] The point is that the deceleration in credit growth implied by TSF data might indeed reflect the beginning of Chinese deleveraging, but it could also reflect the surge in regulatory concern. In the latter case, this would mean that China has experienced not the beginnings of deleveraging, but rather a continuation of the trans-leveraging observers have seen before.

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Jan 302018
 
 January 30, 2018  Posted by at 11:08 am Finance Tagged with: , , , , , , , , , ,  6 Responses »


Horacio Coppola Obelisco, Buenos Aires 1936

 

House Intel Votes To Make “Shocking” FISA Memo Public (ZH)
Trump Administration Holds Off On New Russia Sanctions (R.)
Measure What Is Measurable (John Hussman)
Global Bond Yields Spike as Inflation Fears Rise (Street)
US Mortgage Rates Jump To The Highest Point In 4 Years (CNBC)
Stormy Weather (Jim Kunstler)
Leaked Brexit Report Shows Damage To UK Growth (G.)
Janet Yellen Sets Interest Rates One Last Time. How Will History Rate Her? (G.)
On The Death of Robert Parry (CJ)
Refugee Relocations From Italy And Greece Drawing To A Close (DW)

 

 

I like the suggestion that Trump can read the memo out loiud tonoght in SOTU. Though it’s been discussed so much already, it can only disappoint probably.

House Intel Votes To Make “Shocking” FISA Memo Public (ZH)

In a highly anticipated decision, on Monday evening the House Intelligence Committee voted to make public the memo alleging what some Republicans say are “shocking” surveillance abuses at the Department of Justice regarding the Trump presidential campaign. In immediate response to the vote, the Committee’s top democrat Adam Schiff said that “we’ve crossed a deeply regrettable line”, adding that the “committee voted to put the president’s interest above the interest of the country.” The decision [ends] weeks of speculation over whether the memo, which was drafted by staff for committee chairman Devin Nunes (R- Calif) would be made public. At the same time, it intensifies the dispute over what Democrats say is an all-out assault by Republicans to undermine special counsel Robert Mueller’s probe into Russian interference in the 2016 election.

Now the fate of the 4-page FISA memo is in the hands of Donald Trump: as we discussed earlier, the document will not be immediately released as under the House rule Republicans used to override the classification of the four-page memo, President Trump now has five days to review and reject its publication. But, as per Bloomberg’s reporting earlier, the White House has signaled support for the document’s release and is widely expected to defy the DOJ in allowing the publication to go forward. The DOJ has opposed the release of the document, reportedly infuriating President Trump. While Nunes has described the memo as “facts,” Democrats have slammed it as a collection of misleading talking points they are unable to correct without exposing the highly classified information underpinning the document.

As Bloomberg disclosed earlier on Monday, releasing the memo without allowing them to review it on those grounds, Assistant Attorney General Stephen Boyd wrote to Nunes, would be “extraordinarily reckless.” Of course, the reason for the DOJ – and the Democrats’ fury – is well-known: Republicans who have read the memo have hinted heavily that it contains information that could unravel the entire Mueller investigation, long described by the president as a “witch hunt.” In an amusing twist, now that transparency appears to be the watchword, the Republican controlled House Intel Committee also plans to release the transcript of the business meeting dealing with releasing the FISA memo.

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Russia has pledged to read the list ‘without letting emotion get in the way’.

Trump Administration Holds Off On New Russia Sanctions (R.)

The Trump administration said on Monday it would not immediately impose additional sanctions on Russia, despite a new law designed to punish Moscow’s alleged meddling in the 2016 U.S. election, insisting the measure was already hitting Russian companies. “Today, we have informed Congress that this legislation and its implementation are deterring Russian defense sales,” State Department spokeswoman Heather Nauert said in a statement. “Since the enactment of the … legislation, we estimate that foreign governments have abandoned planned or announced purchases of several billion dollars in Russian defense acquisitions.” Seeking to press President Donald Trump to clamp down on Russia, the U.S. Congress voted nearly unanimously last year to pass a law setting sweeping new sanctions on Moscow.

Trump, who wanted warmer ties with Moscow and had opposed the legislation as it worked its way through Congress, signed it reluctantly in August, just six months into his presidency. Under the measure, the administration faced a deadline on Monday to impose sanctions on anyone determined to conduct significant business with Russian defense and intelligence sectors, already sanctioned for their alleged role in the election. But citing long time frames associated with major defense deals, Nauert said it was better to wait to impose those sanctions. “From that perspective, if the law is working, sanctions on specific entities or individuals will not need to be imposed because the legislation is, in fact, serving as a deterrent,” she said in a statement.

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Next recession: Dow plunge by 2/3.

Measure What Is Measurable (John Hussman)

[..] it’s true that when we examine pre-crash extremes, like 2000 and 2007, we’ll typically find that actual returns over the preceding 12-year period were higher than the returns that one would have expected on the basis of valuations 12 years earlier. No surprise there. The only way to get to breathtaking valuations is to experience a period of surprisingly strong returns. Those breathtaking valuations are then followed by dismal consequences. Likewise, when we examine secular lows like 1974 and 1982, we’ll find that actual returns over the preceding 12-year period fell short of the returns one would have expected on the basis of valuations 12 years earlier.

The chart below offers a reminder of what this looks like, in data since the 1920’s. Look at the “errors” in 1988, 1995, and 2006. Count forward 12 years, and you’ll find the major valuation peaks of 2000, 2007 and today that were responsible for the overshoot of actual returns. The 2000 and 2007 instances were both followed by losses of 50% or more in the S&P 500. Look at the “errors” in 1937, 1962, 1966, and 1970. Count forward 12 years, and you’ll find the market lows of 1949, 1974, 1978 and 1982 that were responsible for the undershoot of actual returns. Those market lows turned out to be the best buying opportunities of the post-war era. When market cycles move to extreme overvaluation or undervaluation, they become an exercise in borrowing or lending returns to the future, and then surrendering or receiving them back over the remaining half of the cycle.

Put simply, in my view, stock prices are rising not because Wall Street has thoughtfully quantified the effect of taxes, interest rates, corporate profits, or anything else. Instead, Wall Street is mesmerized by the self-reinforcing outcomes of its own speculation, relying on verbal arguments, optimistic projections lacking grounds in observable data, and enthusiastic assertions about cause-effect relationships that are accepted without the need for any evidence at all (much less decades of it).

Back to Galileo. Measure what is measurable, and make measurable what is not so. When we do this, come to understand the current speculative extreme as the tension between two observations that are not actually contradictory – just uncomfortable. One is that stock prices are indeed three times the level at which they are likely to end the current market cycle. The other is that there is no pressure for valuations to normalize over shorter segments of the cycle, as long as risk-seeking speculative psychology remains intact.

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It’s starting to feel as if we passed an inflection point.

Global Bond Yields Spike as Inflation Fears Rise (Street)

Global government bond markets continued to sell-off Monday, taking U.S. Treasury yields to the highest level in four years amid renewed bets on faster inflation in the world’s biggest economy and hawkish comments on growth and inflation from central bank officials in Europe. The bond market moves have clipped early gains for stocks and raised the spectre of a correction in inflation assumptions as the global economy roars to life and oil and commodity prices continue to climb amid a surge in manufacturing activity. The selling was also accelerated, in part, by a Goldman Sachs research note which suggested that Wednesday’s meeting of the U.S. Federal Reserve, the last under the leadership of outgoing chairwoman Janet Yellen, could plant the early seeds for a March hike in benchmark borrowing costs.

“We expect the FOMC to issue a generally upbeat post-meeting statement that includes an upgrade to the balance of risks and a slightly hawkish rewording of the inflation assessment,” the note read, adding that public remarks since the December meeting “bolster the case for an upgrade, and by our count, at least half of the Committee has recently referenced upside risks to growth.” Benchmark 10-year U.S. Treasury yields were marked at 2.72% in early Monday trading, the highest since early 2014, while 2-year note yields were seen at 2.15%, the highest since 2008. Those gains followed Friday closing levels that showed the widest yield gap between so-called TIPS, or Treasury Inflation Protected Securities, and benchmark 10-year notes since Sept. 2014.

In Europe, five-year German bunds yields traded in positive territory for the first time since 2015 amid a solid assessment of the region’s growth prospects last week from ECB President Mario Draghi and comments over the weekend from Dutch central bank governor Klaas Knot that he saw “no reason whatsoever” to continue the Bank’s €2.55 trillion ($3.16 trillion) quantitative easing program beyond its September deadline. Both U.S. and European investors are bracing for faster inflation in the months ahead as global commodity prices – particularly crude oil – continue to rise. Brent crude futures for March delivery, the benchmark for prices around the world, were marked at $69.87 Monday, down from their Friday close of $70.52 but still some 28% higher from the same period last year, suggesting a big upside import into headline inflation readings over the first half of this year.

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Yields go up, then so do mortgage rates.

US Mortgage Rates Jump To The Highest Point In 4 Years (CNBC)

A huge sell-off in the bond market is about to make buying a home more expensive. Mortgage rates, which loosely follow the yield on the 10-year Treasury, have been rising for the past few weeks, but are seeing their biggest move higher Monday. “Bottom line, rate sheets are going to be ugly this morning,” wrote Matthew Graham, chief operating officer of Mortgage News Daily. “Some lenders will be at 4.5% on their best-case-scenario 30-year fixed quotes.” That is the highest rate since 2014. The average rate on the popular 30-year fixed started the year right around 4% but then began to climb on positive news in the U.S. economy, solid company earnings reports and a shift in foreign central bank policies which appear to now be following the Federal Reserve’s tightening of monetary policy.

The rate was at 4.28% by the end of last week. “Apart from central banks, there’s a ton of bond market supply coming down the pike due to infrastructure and tax bill spending,” Graham said. That new supply will send yields and, consequently, mortgage rates higher. While mortgage rates are still historically low, they were even lower in the years following the financial crisis. That not only helped juice the sharp increase in home prices, but it has also given borrowers a new sense of normal. Both will hurt affordability this spring on several fronts. “Today is one more reason for Realtors and buyers to move up their spring schedule,” said Chris Kopec, a mortgage loan consultant at Chicago-based Lakeside Bank.

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Why investigate Trump, but not Hillary et al?

Stormy Weather (Jim Kunstler)

It’s hard not to be impressed by the evidence in the public record that the FBI misbehaved pretty badly around the various election year events of 2016. And who, besides Rachel Maddow, Anderson Cooper, and Dean Baquet of The New York Times, can pretend to be impressed by the so far complete lack of evidence of Russian “meddling” to defeat Hillary Clinton? I must repeat: so far. This story has been playing for a year and a half now, and as the days go by, it seems more and more unlikely that Special Prosecutor Robert Mueller is sitting on any conclusive evidence. During this time, everything and anything has already leaked out of the FBI and its parent agency the Department of Justice, including embarrassing hard evidence of the FBI’s own procedural debauchery, and it’s hard to believe that Mr. Mueller’s office is anymore air-tight than the rest of the joint.

If an attorney from Mars came to Earth and followed the evidence already made public, he would probably suspect that the FBI and DOJ colluded with the Clinton Campaign and the Democratic Party to derail the Trump campaign train, and then engineer an “insurance policy” train wreck of his position in office. Also, in the process, to nullify any potential legal action against Clinton, including the matter of her email server, her actions with the DNC to subvert the Sanders primary campaign, the Steele dossier being used to activate a FISA warrant for surveillance of the Trump campaign, the arrant, long-running grift machine of the Clinton Foundation (in particular, the $150 million from Russian sources following the 2013 Uranium One deal, when she was Secretary of State), and the shady activities of Barack Obama’s inner circle around the post-election transition. There is obviously more there there than in the Resistance’s Russia folder.

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What Britain can quarrel about this week.

Leaked Brexit Report Shows Damage To UK Growth (G.)

Brexit would leave the UK worse off under three possible scenarios: a comprehensive free trade deal, single market access and no deal at all, according to a leaked government analysis of the economic impact of leaving the EU. The document was meant to be shown confidentially to cabinet ministers this week but was leaked in an embarrassing development for Theresa May and David Davis, the Brexit secretary. It said national income would be 8% lower under a no deal scenario, around 5% lower with a free trade agreement with the EU and about 2% lower with a soft Brexit option of single market membership over a 15-year period. The government would not comment on leaked documents but sources stressed the analysis did not cover May’s preferred option of a bespoke deal amounting to a “deep and special partnership” with the EU.

The document suggested that chemicals, clothing, manufacturing, food and drink, and cars and retail would be the hardest hit and every UK region would also be affected negatively in all the modelled scenarios, with the north-east, the West Midlands and Northern Ireland facing the biggest falls in economic performance. It comes after Davis refused to release impact assessments covering 58 sectors of the economy when requested to by parliament, claiming they did not in fact exist. Remain supporters said the report, seen by BuzzFeed News, was concerning but in line with what they had feared.

[..] Eloise Todd, the chief executive of anti-Brexit organisation Best for Britain, added: “According to the government’s secret analysis, even the softest Brexit scenario will mean a 2% hit to growth. “Almost every community, region and sector of the economy included in the analysis would be negatively impacted. The case for or against Brexit should be about more than balance sheets, but it’s painfully clear that the numbers are a gloomy part of the story. And behind these numbers are thousands of jobs, businesses and homes that are at risk. “The government are calling this document embarrassing but it’s more than that. It is a colossal act of economic self harm, written down clearly, in black and white. We are reading about an economy facing the abyss.”

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After Janet, the flood.

Janet Yellen Sets Interest Rates One Last Time. How Will History Rate Her? (G.)

Janet Yellen, the Federal Reserve chair, begins her final rate-setting meeting at the helm of the US central bank on Tuesday, before she is replaced by Donald Trump’s chosen successor, Jerome Powell. The first woman to lead the Fed arrived in February 2014 at a time when the money-printing machine of quantitative easing was whirring at full-tilt under her predecessor, Ben Bernanke. QE, which involved the Fed buying bonds from financial institutions, pumped billions of dollars into the US economy to keep it afloat after the financial crisis. Yellen leaves next month with a legacy as the Fed chair who began the long process of turning off the QE machine, and for raising interest rates for the first time in seven years in 2015.

Powell will have a tough act to follow, with the stock market currently sitting at a record high and as economic growth continues to strengthen and unemployment stands at the lowest level since 2000. No increase in interest rates is expected this month, although further hikes are forecast for later this year. James Knightley, senior economist at ING Bank, said: “She has followed up [Bernanke] with strong leadership and solid decision making that led to the robust economic performance we see today. Given all these successes, Jay Powell has been set a very tough bar to match.”

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Emotional by Caitlin Johnstone. We should have a piece that lists his topics through the years. And someone should pick up his legacy.

On The Death of Robert Parry (CJ)

The legendary journalistic titan Robert Parry has died, and I still haven’t quite figured out how to live with that. I did not know Parry and never had any kind of interaction with him, but I can’t stop crying. This is an immense loss and it feels deeply personal, just as one of the countless individuals his work has profoundly impacted. I’ve often recommended Parry’s outlet Consortiumnews as the overall best source of anti-war, anti-establishment information in the English-speaking world, and I cite its content constantly in my own work. This just sucks, and I’m a mess, and this might just be me getting sloppy and emotional for a few paragraphs, but this is all I can really be right now.

In a beautiful tribute to his father, Nat Parry describes a man who was driven not by self-interest, nor even ultimately by any ideology or conceptual values system, but by a deeply held commitment to humanity born out of concern for the future of our species. Parry’s journalistic integrity and ferocious dedication to the truth at all costs appear to have been a byproduct of that fundamental desire for humanity to survive and thrive, and an inability to be comfortable with our horrifying flirtation with extinction. “But besides this deeply held commitment to independent journalism, it should also be recalled that, ultimately, Bob was motivated by a concern over the future of life on Earth,” writes the younger Parry. “As someone who grew up at the height of the Cold War, he understood the dangers of allowing tensions and hysteria to spiral out of control, especially in a world such as ours with enough nuclear weapons to wipe out all life on the planet many times over.”

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Brussels, Paris and Berlin only care when it suits their careers.

Refugee Relocations From Italy And Greece Drawing To A Close (DW)

Germany’s Interior Ministry said on Monday that it will only resettle a small number of migrants from Italy and Greece in the coming weeks, as the EU’s migrant relocation program draws to a close. An Interior Ministry spokesperson told DW that far fewer people had fulfilled the necessary criteria for relocation than first expected. “There are now virtually no more asylum seekers in Greece who could be considered for resettlement,” according to the Ministry. To qualify, applicants had to be from a country where the chances of asylum are at least 75%. Last month, some 500 migrants were still waiting to be relocated from Italy to Germany, while in Greece the number less than 40. “The relocation scheme ended in September 2017, meaning all applicants arriving after that date will no longer be eligible for resettlement,” Annegret Korff, a speaker for the Interior Ministry, said.

“Germany largely completed all outstanding relocations by the end of 2017. In the coming weeks, Germany will only carry out the odd resettlement case that was left outstanding from last year.” The program to relocate migrants landing in Greece and Italy was launched by the European Union in the wake of the 2015 migrant crisis. Initially, EU member states agree to relocate some 160,000 refugees between them from the bloc’s two main points of entry by September 2017. The number was revised to just under 100,000 after officials found that fewer people were eligible under the scheme that first expected. Although the temporary progam has since passed its deadline, the final few migrants that qualify for resettlement are still awaiting asylum.

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 January 21, 2015  Posted by at 11:16 pm Finance Tagged with: , , , , , , , ,  17 Responses »


Harris&Ewing Goodyear Blimp at Washington Air Post ,DC 1938

In yesterday’s State of the Union, Obama said The ‘Shadow Of Crisis Has Passed’, and the one and the only thing I thought was: ‘Good, so now we can tackle the crisis itself?!’. If speeches like the SOTU last night, and the reactions to it, make anything clear, it’s that the PR guys won the fight against critical thinking. Sure, there are people for whom that shadow has passed, but a president is supposed to be there for all Americans, not just for those who finance his campaigns and those of his successors.

And for most Americans, the shadow hasn’t passed at all, and the crisis certainly hasn’t. And hollow promises to help the middle class are not going to change anything about that. It’s an elite game, and all others are left to fend for themselves. For now that remains hidden behind the veil of over 50% of Americans receiving some kind of government benefit, but that won’t last. We may have some idea of how much richer the rich are getting, and even that is a stretch, but we have much less idea of how much the poor got poorer.

And the President, of all Americans, won’t tell us, he’d rather hail his ‘achievements’ as prepared and blown out of all proportions by his spin team. His political ‘adversaries’, who play their role of ‘hating’ him only halfway convincingly, won’t call him on the spin, because they have nothing to gain from trying to blow up the newfangled American Dream.

Their message looking forward to the 2016 elections is that they would do even better, but that doesn’t sound credible with the 5% GDP growth and 5.2% unemployment numbers the White House pulls out of its top hat. They’re just as dependent on spin as Obama is, and he trumped them on it. What are they going to do? Promise 10% GDP growth?

The GOP will look to drastically cut those benefits, and they know full well that that would cut growth numbers, not raise them. 5% growth is already so far out of left field that Obama’s spin doctors have the other side cornered on US economy. They have on international politics, too.

The White House’s ludicrous stance on Russia’s involvement in Ukraine, ludicrous because none of its accusations have ever been proven over an entire year, and the sanctions that were instated because of the hollow accusations, are a hard act to follow even for John McCain and his dementing octogenarian rabble rousers who crave nothing more than for that final grand scale deadly battle in their lifetime. Can we make in nuclear plese? After them the flood.

All they could do to better Obama from here is send in American boots on the ground in the Donbass, and they know that would be the least popular decision in many decades. But domestically, economically, and internationally, it’s back to the drawing board for the Grand Old Elephants all the time, they’re always a step behind. Must be frustrating. The Obama people have played them as much as they have played the American people.

Who, as should be obvious by now, have nothing to expect from either side, since both owe allegiance not to the flag or the Founding Fathers, but to the rich getting richer who fund them, without whom they’d have to give up their power plays and -dreams. Something a certain kind of people will resist at any price. The kind that floats to the top of this kind of cesspool.

Allow money into politics and the former will end up owning the latter, no exceptions. Money won’t support candidates with a conscience, only those who’ll do anything to advance their careers, who are as pliable as and spineless as a stick of wet gum, and those are all that will be left. If anything typifies American politics, it’s moral bankruptcy. One dollar one vote. 100 million dollars, 100 million votes. And then they insist on calling that democracy, a concept promoted by the media purchased the same way the politicians are.

All you need to do is get people to believe whatever it is you got for sale. And 99.9% of people are easily fooled. That’s how you define democracy in 2015: how many people can you fool? Which is the most convincing sleight of hand?

The Europeans are well down that same road. Mario Draghi is set to announce over $1 trillion in QE tomorrow, and none of it will ever reach the alleged target, the real economy. He set up his QE in a ‘proportional’ way, meaning most of that trillion will go to Germany and France, not the Greeks and Italians who need it most.

Draghi will buy government bonds, but that doesn’t help Europe’s businesses. And not just because they are far more dependent on bank loans than American companies are, who issue more bonds, but because demand, and spending, is way down. That’s what it means that Europe is in deflation. It’s not falling prices, it’s that people don’t spend, and they certainly don’t borrow.

Draghi is engaging in the classic central banker’s ‘pushing on a string’, and Goldman’s former banker and present day acolyte knows it. He’s created a situation in which another $1 trillion looks acceptable, necessary even, to the majority of the eurozone politicians. Who mostly are clueless about the effects of such expenditures. But who look at the US and think it must have worked over there; who fall for Obama’s spin doctor narratives as much as the America people do.

Draghi’s $1 trillion has long been priced in, it won’t do anything for EU economies but gut them even further, and it may be completely irrelevant as soon as this Sunday when Greece may well elect a government that has vouched to blow up the deals the Troika made with the technocrats the EU itself installed in Athens.

Not a pretty picture, is it, either in Washington or in Brussels?! Well, I can guarantee you it’ll get a lot worse before it gets any better. We’ve let the clowns come too far. Way too far.