May 152023
 


Alessandro Allori Portrait of a Lady c1560

 

Wagner Chief Offered To Give Russian Troop Locations To Ukraine (WaPo)
WaPo Deletes Part of Zelensky Interview Accusing It Of Aiding Russia (Antiwar)
Here Are The Zelensky ‘Treason’ Quotes The Washington Post Deleted (RT)
Western Pressure Can ‘Screw Up’ Ukrainian Counteroffensive: Ex-US General (RT)
Ukraine Now De-Facto ‘State-Sponsor Of Terrorism’ – Kremlin (RT)
White Supremacy Is ‘Most Dangerous Threat’ To US – Biden (RT)
The Charlemagne Prize for Hypocrisy and Mass Murder (Vogel)
G7 and EU To Ban Restart Of Russian Gas Pipelines (RT)
Play it Again Uncle Sam… Debunked Syrian Chemical Weapons Card in Ukraine (SCF)
Deliver Us from Reality (Kimball)
The Dynamics Driving The Dollar Down (Macleod)
Never Forget: A Retrospective On The Media Lies Surrounding COVID (ZH)
Assange Allies Turn to Squire Patton Boggs to Help Lobby DOJ (BBL)

 

 

 

 

Whistleblowers

 

 

 

 

Soros Ukr

 

 

 

 

Macgregor

 

 

 

 

Prygozhin talks to Kiev. But does he offer to give up military secrets? That’s a stretch.

Wagner Chief Offered To Give Russian Troop Locations To Ukraine (WaPo)

In late January, with his mercenary forces dying by the thousands in a fight for the ruined city of Bakhmut, Wagner Group owner Yevgeniy Prigozhin made Ukraine an extraordinary offer. Prigozhin said that if Ukraine’s commanders withdrew their soldiers from the area around Bakhmut, he would give Kyiv information on Russian troop positions, which Ukraine could use to attack them. Prigozhin conveyed the proposal to his contacts in Ukraine’s military intelligence directorate, with whom he has maintained secret communications during the course of the war, according to previously unreported U.S. intelligence documents leaked on the group-chat platform Discord. Prigozhin has publicly feuded with Russian military commanders, who he furiously claims have failed to equip and resupply his forces, which have provided vital support to Moscow’s war effort. But he is also an ally of Russian President Vladimir Putin, who might well regard Prigozhin’s offer to trade the lives of Wagner fighters for Russian soldiers as a treasonous betrayal.


The leaked document does not make clear which Russian troop positions Prigozhin offered to disclose. Two Ukrainian officials confirmed that Prigozhin has spoken several times to the Ukrainian intelligence directorate, known as HUR. One official said that Prigozhin extended the offer regarding Bakhmut more than once, but that Kyiv rejected it because officials don’t trust Prigozhin and thought his proposals could have been disingenuous. A U.S. official also cautioned that there are similar doubts in Washington about Prigozhin’s intentions. The Ukrainian and U.S. officials spoke on the condition of anonymity to discuss sensitive information. In an interview with The Washington Post this month, Ukrainian President Volodymyr Zelensky would not confirm the contacts with Prigozhin. “This is a matter of [military] intelligence,” he said. The Ukrainian leader also objected to airing classified information publicly and said he believed that the leaks had benefited Russia.

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Zelensky doesn’t appear to get it. This is the Discord leaks.

WaPo Deletes Part of Zelensky Interview Accusing It Of Aiding Russia (Antiwar)

The Washington Post deleted a portion of an interview with Ukrainian President Volodymyr Zelensky, where he accused the paper of helping Russia by posing a question about information contained in leaked classified documents. The interview was conducted on May 1 and published on Saturday. An archived version of the interview shows a testy exchange between Zelensky and the Post, which was later deleted. The Post asked Zelensky about documents they obtained that they said showed members of Ukraine’s Main Directorate of Intelligence, known as HUR, had “back-channel contact” with Yevgeny Prigozhin, the head of the Russian mercenary force Wagner Group. Zelensky appeared to think the Post received the information from a Ukrainian and demanded the paper reveal its source.

“I would also like to ask you a question: With which sources from Ukraine do you have contact? Who is talking about the activities of our intelligence? Because this is the most severe felony in our country. Which Ukrainians are you talking to?” he said. The Post said the information “did not come from Ukraine” and that it was part of the Discord leaks, which revealed information that was obtained by the US spying on Zelensky. The Post said the documents showed Kyrylo Budanov, the head of Ukraine’s Main Directorate of Intelligence, informed Zelensky about a “Russian plan to destabilize Moldova with two former Wagner associates.” The Post added: “Budanov informed you that he viewed the Russian scheme as a way to incriminate Prigozhin because ‘we have dealings’ with him.

You instructed Budanov to inform Moldovan President Maia Sandu, and Budanov told you that the GUR [HUR] had informed Prigozhin that he would be labeled a traitor who has been working with Ukraine. The document also says that Budanov expected the Russians to use details of Prigozhin’s secret talks with the GUR [HUR] and meetings with GUR [HUR] officers in Africa.” Zelensky responded by asking if the paper wanted the help Russia. “You are releasing some sort of information that does not help our state to attack and does not help us to defend our state. So, I don’t quite understand what you are talking about. I don’t quite understand your goal. Is your goal to help Russia?” he said. When the Post responded by saying it didn’t want to help Russia, Zelensky replied, “Well, it looks different.”

It’s not clear why the Post deleted the portion of the interview, but it could have been done at the behest of the Ukrainian government, which had previously pressured CBS News to remove a documentary on military aid to Ukraine. On Sunday night, the Post published a report on the HUR’s alleged contacts with Prighozhin. The report said Prighozhin, who is known to speak out against Russian military leadership, offered to give Ukraine information on Russian troop positions if Ukrainian forces withdrew from Bakhmut. But the report said US and Ukrainian officials thought the proposal was disingenuous. Prigozhin on Sunday made light of the allegations about his contacts with the HUR. According to the Post, he met with Ukrainian intelligence officials in an unnamed country in Africa. “Yes of course I can confirm this information, we have nothing to hide from the foreign special services. Budanov and I are still in Africa,” Prighozhin wrote on Telegram.

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There’s more at the URL.

Here Are The Zelensky ‘Treason’ Quotes The Washington Post Deleted (RT)

The Washington Post has deleted a large tract of an interview with Ukrainian President Vladimir Zelensky in which he lashed out at alleged “traitors” in his ranks. RT is publishing the entire section that the US newspaper would rather keep hidden. The following section appeared in an interview with the Ukrainian president published on Saturday. By Sunday it had been removed with no explanation. After discussing a trove of recently leaked Pentagon documents, which revealed – among other things – that the US monitors Zelensky’s communications, the newspaper presented him with a fresh allegation that has not yet been reported in the US media. Note that Evgeny Prigozhin is the founder and head of the Wagner Group, a Russian private military company currently fighting in the Donetsk People’s Republic.

WaPo: The documents indicate that GUR, your intelligence directorate, has back-channel contact with Evgeny Prigozhin that you were aware of, including meeting with Evgeny Prigozhin and GUR officers. Is that true?

Zelensky: This is a matter of [military] intelligence. Do you want me to be convicted of state treason? And so, it’s very interesting, if someone is saying that you have documents, or if someone from our government is speaking about the activities of our intelligence, I would also like to ask you a question: With which sources from Ukraine do you have contact? Who is talking about the activities of our intelligence? Because this is the most severe felony in our country. Which Ukrainians are you talking to?

WaPo: I talked to officials in government, but these documents are not from Ukraine, they are from…

Zelensky: It doesn’t matter where the documents are from. The question is with which Ukrainian official did you talk? Because if they say something about our intelligence, that’s treason. If they say something about a specific offensive plan of one general or another, this is also treason. That’s why I asked you, which Ukrainians are you talking to?

WaPo: About these specific documents? You are the first person I am talking to about them.

Zelensky: Okay.

WaPo: And I can read you what information exactly there is about Prigozhin and the GUR. On February 13, Kirill Budanov, chief of Ukraine’s Main Directorate of Intelligence, informed you about a Russian plan to destabilize Moldova with two former Wagner associates. Budanov informed you that he viewed the Russian scheme as a way to incriminate Prigozhin because “we have dealings” with him. You instructed Budanov to inform Moldovan President Maia Sandu, and Budanov told you that the GUR had informed Prigozhin that he would be labeled a traitor who has been working with Ukraine. The document also says that Budanov expected the Russians to use details of Prigozhin’s secret talks with the GUR and meetings with GUR officers in Africa…

Zelensky: Listen, to be honest, well, you just read something, you say something. I just don’t understand where you get it, whom you talk to and so on. You talk about how I met with Budanov. This suggests that you – how do you put it? It looks like you have people who have some records or you have some evidence or you have something, because that’s what it looks like. You are again doing, I apologize, what you were doing before. You are releasing some sort of information that does not help our state to attack and does not help us to defend our state. So, I don’t quite understand what you are talking about. I don’t quite understand your goal. Is your goal to help Russia? I mean, that means we have different goals. If I’m not sitting at the same table with them, I don’t quite understand what we’re talking about. Each of these inquiries simply demotivates Ukraine, demotivates certain partners to help Ukraine. Well, one way or another, I just don’t understand your goal.

WaPo: Our goal is not to help Russia.

Zelensky: Well, it looks different.

WaPo: No one gave us this information personally. These were in the leaked documents, which do indicate, as I said earlier, that the United States is listening in on you.

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“..This narrative is promoted by those who “don’t want to see Ukraine win..”

Western Pressure Can ‘Screw Up’ Ukrainian Counteroffensive: Ex-US General (RT)

The West could sabotage Ukraine’s much-hyped anticipated counteroffensive against Russia by piling up too much pressure on Kiev, a retired US general has warned. In an interview to Business Insider released on Thursday, Ben Hodges, former commander of US Army Europe, cautioned that portraying Ukraine’s push to reclaim lost territories as a make-or-break offensive could set a dangerous precedent and derail it even before its starts. “The only thing I think that can screw this up is if the West exerts so much pressure on Ukraine and it causes them to stop short of a total victory,” he told the outlet. Echoing remarks by some top Ukrainian officials, Hodges went on to say that he would “reject the talk that Ukraine’s only got one shot” at the offensive, and if it fails to “achieve a knockout blow,” then its Western backers would stop supporting Kiev.

This narrative is promoted by those who “don’t want to see Ukraine win,” he added. Hodges also noted that many top White House officials “are not committed to Ukraine absolutely winning,” rebuking the administration of US President Joe Biden for failing to clearly define its strategic objectives in the conflict. With speculation rampant in recent months about an imminent spring push, in late March Ukrainian Foreign Minister Dmitry Kuleba attempted to downplay its significance, saying that “we should counter by all means the perception of the counteroffensive as the decisive battle of the war.”

Earlier this week, Ukrainian President Vladimir Zelensky claimed that Kiev was ready for the offensive, but still needed a bit more time for the conditions to become optimal and for the groundwork to be laid so as to avoid “unacceptable” losses. However, in late March General Mark Milley, chairman of the US Joint Chiefs of Staff, voiced skepticism about the planned offensive, warning that Ukraine would have a hard time “kicking every Russian out” of the territories it claims as its own. In April, commenting on the potential move by Kiev, Kremlin Press Secretary Dmitry Peskov said that the Russian military “thoroughly tracks all the relevant information.”

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This implicates us who support them.

Ukraine Now De-Facto ‘State-Sponsor Of Terrorism’ – Kremlin (RT)

Ukraine has de-facto turned into a “state-sponsor of terrorism,” Kremlin spokesman Dmitry Peskov has said. The official made the remarks in an interview with journalist Pavel Zarubin that aired on Sunday. The spokesman was asked for comments about a recent pledge by Ukraine’s military intelligence chief Kirill Budanov, who vowed to “keep killing Russians anywhere” across the globe. Despite their explosive nature, the remarks did not face any criticism from Kiev’s Western sponsors, Peskov noted. “The statement is unprecedented in its essence. And of course, it will be strange not to hear any words of condemnation from European capitals and from Washington. Logic says it’s impossible to do without condemnation,” he said. Budanov’s admission was yet further proof that Kiev has been directly orchestrating terrorist attacks against Russians, Peskov added.

The spokesman said that Russia’s “special services know what to do after such statements,” but did not elaborate on the potential countermeasures against such activities. “It’s evident that the Kiev regime is behind the killings, not only sponsoring them, but organizes, incites and carries them out. De-facto, we’re talking about a state-sponsor of terrorism.” The controversial remarks were made last week by the boss of the Ukrainian Defense Ministry’s Main Directorate of Intelligence (GUR) in an interview with Yahoo News. Budanov boasted that “we’ve been killing Russians” and will “keep killing Russians anywhere on the face of this world until the complete victory of Ukraine.” The statement came in response to a question whether the GUR had anything to do with last year’s murder of Darya Dugina, a journalist and daughter of prominent Russian philosopher Aleksandr Dugin. Budanov dismissed accusations of engaging in terrorism, stating that what Russia calls “terrorism, we call liberation.”

The terrorist activities that Moscow has attributed to Kiev have picked up in recent months. In April, for instance, Russian military blogger Vladlen Tatarsky was killed in St Petersburg with an improvised explosive device that had been concealed in a statuette handed to him during an event. The blast killed the blogger on the spot and injured over a dozen others. Russia’s Security Service (FSB) has blamed the blast on “Ukrainian special services and their agents, including fugitive members of the Russian opposition.” Last week, Russian author and political activist Zakhar Prilepin was targeted in a car bombing near the city of Nizhny Novgorod. The blast left Prilepin critically injured, and killed his close associate, who was inside the vehicle at the moment of the attack.

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Plenty old videos with Joe as supremacist.

White Supremacy Is ‘Most Dangerous Threat’ To US – Biden (RT)

In a speech to black college graduates on Saturday, US President Joe Biden labeled ‘white supremacy’ the most dangerous terrorist threat to the US. The statement – which is contradicted by crime statistics – was condemned by conservative pundits. “White supremacy… is the single most dangerous terrorist threat in our homeland,” Biden told graduates from Howard University, a historically black university (HBCU) in Washington DC. “I’m not just saying this because I’m at a black HBCU. I say this wherever I go,” Biden continued. “Fearless progress toward justice often means ferocious pushback from the oldest and most sinister of forces. That’s because hate never goes away… it only hides under the rocks.”

Throughout his time in office, Biden has often talked up the threat of white supremacy, claiming that belief in the superiority of the white race motivated former President Donald Trump’s supporters to riot at the US Capitol in January 2021, and declaring last year that black people live in fear of being “gunned down by weapons of war deployed in a racist cause.” In mid-2021, the Biden administration published the US government’s first ever National Strategy for Countering Domestic Terrorism, which named “racially motivated violent extremists” and anti-government extremists as “the two most lethal elements of today’s domestic terrorism threat.”

According to FBI crime statistics, the average Howard University graduate is 11 times more likely to be murdered by a member of their own race than a white perpetrator. While African-Americans commit the majority of all violent crime in the US, most crime – whether committed by white or black Americans – is intraracial. Biden’s statement was condemned by conservative pundits, who accused the president of using divisive rhetoric to solicit votes. “The Democratic Party spent most of the 19th Century and much of the 20th using overt racism to win elections,” libertarian activist Jon Miltimore tweeted, adding that “They are doing it again in the 21st century. The racism just looks a lot different than the 19th century version.” Journalist Julie Kelly called Biden a “pathological liar” and accused him of fueling “dangerous racial division.”

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“exceptional work performed in the service of European unity.”

The Charlemagne Prize for Hypocrisy and Mass Murder (Vogel)

On Sunday, 14 May 2023, Ukrainian President Volodimir Zelensky will receive the Charlemagne Prize for “exceptional work performed in the service of European unity.” The Prize will be given to Zelensky himself and to the Ukrainian people. The official citation is full of praise, lofty terms and high ideals, but somehow there is a ring of insincerity about it. Obviously, the Prize is given because eight years after starting a war against what it claims to be its own citizens, the Ukraine is now engaged in a real battle with its Russian neighbor. After shelling cities of the Donetsk and Lugansk regions, killing at least some 15,000 civilians and wounding countless others, Ukrainian soldiers and their NATO mentors now have to face a real enemy.

With European nations, as members of NATO and US vassal states, participating in brutal killing sprees in Yugoslavia, Iraq, Libya, Syria, Afghanistan, and given the violent past of nations like England, France, the Netherlands, Belgium, Germany, Spain, Portugal, Italy, Sweden and Denmark, what right do they have of lecturing Russia? The citation speaks of “an unspeakably brutal Russian war of aggression that contravenes international law, directed against the European Social Order, Security Order and Peace Order, with the objective of destabilising the European community of peoples…” As for upholding the principle of sovereignty that the EU supposedly holds so high and for which Zelensky is being praised to the skies, like everything else in the citation, it is a cynical sham. If the Ukraine is entitled to sovereignty and independence, what about Catalonia?

The last time the Catalans, who since the 17th century have desperately wanted to be sovereign and independent, tried to achieve this peacefully, they were brutally repressed by the government in Madrid and the unelected apparatchiks in the European Commission in Brussels. The European values defended by the guy with the hoarse voice and the olive green t-shirt are actually the same as those of the years 1941-45 when all of Europe was in the East trying to defeat the Red Army. Nevertheless, the Charlemagne Prize citation says about Zelensky and the Ukraine: “His country is defending Western values, unassailable principles of coexistence, peace and freedom, and therefore precisely what the European Union stands for politically.” All of it pure baloney.

Since 1950, the German city of Aachen has been giving the annual prize for helping to promote “European unity.” In 1955, it was given to Sir Winston Churchill who, only eleven years before, had in fact been responsible for flattening the ancient city with all its priceless monuments and killing almost two thousand of its citizens. Apparently, the Prize Committee believed that killing men, women and children with aerial bombardments was “exceptional work performed in the service of European unity.” The Committee still held that view half a century later when it gave the Charlemagne Prize to Tony Blair (1999), Bill Clinton (2000) and Javier Solana (2007). In their respective functions as British Prime Minister, US President and NATO Secretary General, this trio was responsible for destroying the European nation of Yugoslavia and bombing the European nation of Serbia, killing thousands of Serbian men, women and children. Many of those who escaped NATO bombs were contaminated by radioactive material from the depleted uranium munitions dropped on Serbia. Indeed, “exceptional work performed in the service of European unity.”

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Wait till it gets colder.

G7 and EU To Ban Restart Of Russian Gas Pipelines (RT)

The G7 and EU will ban Russian gas imports on routes where Moscow has cut supplies, according to officials involved in the negotiations, the first time pipeline gas trade has been blocked by Western powers since the invasion of Ukraine, Report informs via the Financial Times. The decision, which is to be finalized by G7 leaders at a summit in Hiroshima next week, will prevent the resumption of Russian pipeline gas exports on routes to countries such as Poland and Germany, where Moscow cut off supplies last year and triggered an energy crisis across Europe. Western powers want to ensure that Russia does not receive a boost to its energy revenues as they attempt to raise economic pressure 15 months after Moscow’s full-scale invasion of Ukraine.

One of the officials, all of whom spoke on condition of anonymity, said the move was “to make sure that partners don’t change their mind in a hypothetical future”. A draft G7 statement seen by the Financial Times said that the group of leading economies would further reduce their use of Russian energy sources “including preventing the reopening of avenues previously shut down by Russia’s weaponization of energy” at least until “there is a resolution of the conflict”. While the measures are unlikely to affect any immediate gas flows, it underscores a deep determination in Brussels to make permanent the rapid and painful pivot away from decades of reliance on Russian energy. The ban is highly symbolic because, at the start of the war, the EU had avoided targeting pipeline flows given their huge dependence on Moscow’s gas. Russia went ahead and cut supplies anyway, sparking a surge in gas prices to more than 10 times their normal level.

But in recent months prices have fallen substantially as Europe successfully cut demand over winter, accelerated the roll out of renewable energy and sourced alternative supplies such as seaborne cargoes of LNG. Moscow’s share of the European gas imports has fallen from more than 40 percent to less than 10 percent, and a mild winter has boosted gas storage in the EU. Officials are confident that gas storage, which is already some 60 percent full compared with roughly 30 percent at the same time in 2022, will reach capacity long before the next winter arrives. Oil pipelines where Russia has cut supplies, including the northern leg of the Druzhba line that supplies refineries in Germany and Poland, could also be blocked under EU measures to prevent a resumption in flows.

The embargo is being discussed by diplomats as part of the EU’s 11th sanctions package. The commission said it would not comment on sanctions discussions or leaks. One EU diplomat said that the proposal needed more clarification from Brussels to show how the “status quo” would change, particularly as some oil from Kazakhstan flows through Druzhba. “It has to be clear exactly how it would work,” they said. Berlin and Warsaw, despite having an exemption from sanctions on Russian oil, said that they would voluntarily end deliveries of crude through Druzhba last year although Poland continued to receive supplies until Russia cut off flows in February. German refineries stopped ordering Russian crude from the beginning of this year.

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Aaron Maté territory.

Play it Again Uncle Sam… Debunked Syrian Chemical Weapons Card in Ukraine (SCF)

The CW card is a complete dud. That Western media are playing it shows that their role is as sinister as mass drug-dealing. Western media are now accusing Russian forces of preparing to use chemical weapons (CW) of mass destruction in Ukraine, thereby making the case for greater NATO military intervention. The CW card is a complete dud. That Western media are playing it shows they are also complete duds, and that their role is as sinister as mass drug-dealing. Deliberate provocation by Western powers is the watchword. Britain this week supplying long-range missiles, as well as depleted uranium artillery shells, and drone attacks on the Kremlin are part of a sequence to solicit never-ending escalation. Accusing Russia of planning to use chemical weapons of mass destruction, as with earlier claims of Russia willing to use nuclear weapons, is all part of the orchestrated provocation.

The degradation of Western media standards has become so bad that they can get away with retailing such nonsense to consumers of this “information”. First of all, Russia does not have any chemical weapons. As a signatory to the international treaty known as the Chemical Weapons Convention (1997), the Russian Federation verifiably destroyed all of its arsenals as per its signatory obligations. The complete decommissioning of these weapons by Russia in 2017 was verified by the Organization for the Prohibition on Chemical Weapons (OPCW). The United States is the only major power that has not fully implemented the CW convention by retaining stockpiles of these weapons. Not only is speculation about Russian forces possibly using CW in Ukraine baseless, but the Western media are also deploying the shoddy lie used earlier against Syria. Incredibly, for anyone cognizant of the facts, such calumny is still peddled to blame the wrong people when the real perpetrator in Syria was Western-backed militants and their CIA and MI6-sponsored media accomplices, the so-called White Helmets.

Western media continue to claim that the Syrian government forces of Bashar al Assad used CW against civilians during the decade-old civil war in the Arab country. Russia supported the Syrian army to defeat NATO-backed radical extremists. Now the Western media are moralizing that the United States and other Western powers took no punitive action against Syria over CW which, it is contended, is acting as a precedent for Russia to use these weapons in the Ukraine conflict. Euronews quotes Hamish de Bretton-Gordon, a former British military intelligence officer, as saying: “The international community needs to reaffirm that any use of chemical or biological weapons would not be acceptable in any shape or form… I’m sure NATO and the West would act if they [Russia] used chemical weapons in Ukraine. But having said that they stood by when Assad used such weapons in Syria and that might embolden Putin.”

This is an outrageous lie being propagated by the Western media. It has been documented by independent investigations that the CW attacks in Syria were actually carried out by NATO-backed mercenaries in false-flag operations to provoke Western military intervention. One of those false flags in the city of Douma in April 2018 succeeded in its nefarious aims. Following the incident – dutifully amplified at the time by Western media for gaslighting the Western public – U.S. President Donald Trump bombed Syria “in revenge” along with British and French allies. However, it turned out later that Syria, Russia and Iran were vindicated in their initial claims that the CW incidents in Syria were false-flag stunts. Indeed, it was shown that personnel in the UN watchdog, the OPCW, engaged in a cover-up to implicate the Assad government when the real perpetrator was the jihadists backed by the West, as reported by Aaron Maté and other independent journalists.

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The defence fund for former Marine Daniel Penny is at $1.6 million.

Deliver Us from Reality (Kimball)

“Because he can.” That’s the answer one has to give to those who ask how Alvin Bragg, a local district attorney in office by the slimmest of margins—and then only because of a huge subsidy from the anti-American billionaire George Soros—can get away with antics like indicting Donald Trump, a former (and, possibly, future) president of the United States, and, now, with charging former Marine Daniel Penny with manslaughter because he (along with at least two others) intervened to stop Jordan Neely from attacking fellow passengers on a New York subway. Because he can. As a friend remarked when digesting the spectacle of Penny being led away in handcuffs, totalitarian movements often start slowly, almost timidly, but as they gain power, they become more brazen. After a certain point, they do outrageous things just to intimidate the public and demonstrate their power.

We now know that the FBI, the CIA, and other elements of America’s security apparatus intervened directly in the decision making of Twitter and other social media companies to influence the course of the 2020 election. One part of that intervention had to do with organizing 51 senior former intelligence figures to sign a letter declaring that Hunter Biden’s laptop was “Russian disinformation.” That was a lie. They knew it was a lie. It didn’t matter. They did it because they knew they could get away with it. The United States is on the verge of being inundated with thousands upon thousands of illegal aliens. Many are from South or Central America. Hundreds are from China, even though they are crossing that notional line we used to be able to call, without irony, our southern border. Why did the Biden Administration decide to enact a real-life Camp of the Saints invasion of the United States? Because it could. There was no immediate price to pay.

In her classic study, The Origins of Totalitarianism, Hannah Arendt makes several observations that bear on our current situation. “There is no doubt,” she observes, “that the elite was pleased whenever the underworld frightened respectable society into accepting it on an equal footing. The members of the elite did not object at all to paying a price, the destruction of civilization, for the fun of seeing how those who had been excluded unjustly in the past forced their way into it. They were not particularly outraged at the monstrous forgeries in historiography of which all totalitarian regimes are guilty and which announce themselves clearly enough and totalitarian propaganda.”

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“..currency as a medium of exchange which allows us to turn our production into our consumption..”

The Dynamics Driving The Dollar Down (Macleod)

John Maynard Keynes did the world a disservice with his offhand dismissal of Say’s law. Consequently, economists have lost the true relationship between production and consumption. And we have lost our understanding of the true role of currencies as a medium of exchange. Nearly all our economic errors have flowed from this dismissal. In order to understand the seriousness of it with respect to the dollar today, the denial of Say’s law is no less than a denial of the division of labour. Yet, plainly, the division of labour is the basis of all human economic activity. Without having something to sell, we cannot buy the things we need which we are unable to provide for ourselves efficiently or easily. Where we differ from other animals is that we develop our personal skills to maximise the value of our specialised production so that we can increase our wider consumption for the greatest relief of our needs and desires.

Our individual skills are the key that provides our wealth. And it is the role of currency as a medium of exchange which allows us to turn our production into our consumption. Several things follow from this truism. One is that if we reduce our total production, we reduce our total consumption, because the former leads to the latter. No, say the Keynesians, who put it the other way round. They say that if we reduce our consumption there will be a general glut of goods on the market and then prices will fall, leading to unemployment. The error is to not understand that first we must produce in order to consume, so that there cannot be a general glut, only changes in the level of productive output which are broadly matched by changes in overall consumption.

Surely, this can be easily understood even by non-experts. But this deliberate error — for that is what it can only have been — has led to a misunderstanding of the role of the medium of exchange. It provides the means to exchange goods of unequal value: for example, a cobbler makes shoes and boots, whose unit value will be greater than the individual food items he requires daily to feed his family. It also provides producers with the credit required to finance production, paying costs incurred before a final product is sold and creditors repaid. This is the essence of trade. And so long as transacting individuals only produce to consume, the expansion and contraction of the sum total of money and credit purely in connection with that trade cannot alter their value in terms of goods and services generally. Not so, say Keynes’s macroeconomists, now joined in chorus by the monetarists. They claim that expansion of money and credit alters the general price relation. Both believe in manipulating credit to this end.

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“..the most aggressive global propaganda attack in modern history..”

Never Forget: A Retrospective On The Media Lies Surrounding COVID (ZH)

Lest we get too comfortable once again and forget that only a couple years ago the western world was on the verge of perpetual medical tyranny, it is important to look back at the massive media disinformation campaign concerning the effectiveness (or lack of effectiveness) of the pandemic mandates and the mRNA vaccines. Only two years ago, the public was bombarded by possibly the most aggressive global propaganda attack in modern history. And, this campaign was a conjoined effort between national governments, global institutions and corporations.


Keep in mind, all the hysteria was generated over a virus with a median official Infection Fatality Rate of only 0.23%. That’s right, all the fear mongering featured in the video below was in reaction to a “pandemic” that 99.8% of the population would easily survive, and this death rate was known only months after the spread started. Also keep in mind that essentially every single claim made by the media concerning covid featured below ended up being false. In many cases, the media knew that scientific evidence ran contrary to their narrative, but they promoted that narrative anyway. Enjoy this flashback of corporate media covid fear mongering, and never forget…

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No play no pay?

Assange Allies Turn to Squire Patton Boggs to Help Lobby DOJ (BBL)

A WikiLeaks fundraising organization has hired Squire Patton Boggs to lobby the Justice Department on behalf of the site’s publisher, Julian Assange, amid his espionage charges, according to public records and three sources familiar with the matter. German foundation Wau Holland has paid Squire at least $1.2 million since last October to push DOJ on journalists’ rights to publish classified information, federal disclosures show. The sources said the global law and public policy firm has been seeking a meeting with the department to discuss how the espionage case against Assange holds up in light of Attorney General Merrick Garland’s recent policy to protect journalists from enforcement actions.

The hiring of one of Washington’s most storied and influential firms marks an escalation of a years-long public advocacy campaign. Advocates haven’t yet succeeded in persuading the Biden administration to abandon the Trump-era prosecution of Assange for publishing classified war documents. There’s no sign the two Squire attorneys listed on the lobbying disclosures—both former government lawyers—have made headway in convening with DOJ officials to understand how Assange’s charges mesh with Garland’s press-friendly approach. But their campaign on behalf of someone condemned by members of both political parties, which hasn’t been previously reported, represents the Big Law firm’s most lucrative federally-disclosed work over the past six months.

Assange is a polarizing figure due to his high-profile national security breaches and publication of hacked Democratic National Committee emails in 2016. He was arrested in 2019 in London on a US warrant and remains detained as he fights his extradition. Squire’s efforts align with press freedom and civil liberties groups, major news outlets, and the House’s progressive wing, who have warned that extraditing Assange from the UK and putting him on trial in US court would threaten First Amendment rights. [..] Squire received $600,000 from the Wau Holland Foundation in each of the prior two quarters starting in October 2022, according to lobbying filings disclosed in mid-April. The foundation, a longtime Assange and WikiLeaks financer, enlisted the firm to lobby DOJ on “First Amendment issues related to the publication by journalists of classified information,” Squire said in the filings.

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Khan

 

 

 

 

Leopard

 

 

 

 

Deepest fish

 

 

Big cats

 

 

Orca

 

 

Boobies
https://twitter.com/i/status/1657536293318868993

 

 

 

 

 

 

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

 

 

 

 

 

Oct 112022
 
 October 11, 2022  Posted by at 8:15 am Finance Tagged with: , , , , , , , ,  50 Responses »


Paul Gauguin By the stream, autumn 1885

 

You Can Always Dream (Jim Kunstler)
Ukraine’s ‘Nazi Regime’ Must Be Dismantled – Medvedev (RT)
A Nice Bridge You Got There… (Dmitry Orlov)
West Has Now Set A Course On Total Terrorist Warfare (Saker)
Terror On Crimea Bridge Forces Russia To Unleash Shock’n Awe (Escobar)
All Quiet on the Eastern Front? Not At All, Atlantis (Batiushka)
Russian MOD Comments On Results Of Strikes In Ukraine (RT)
Ukraine Halts Electricity Exports To EU (RT)
Dancing In The Streets…. (Denninger)
Hard Winter Ahead For Europe – Erdogan (RT)
Putin Meeting With Permanent Members Of The Russian Security Council (Saker)
Before Ukraine Blew Up Kerch Bridge, British Spies Plotted It (GZ)
Global Pandemic Response was a House of Cards (McCullough)
Trump Shreds Four Former Presidents, Hillary Clinton (CB)
Julian Assange and Our Impunity Democracy (Bovard)

 

 

George Webb’s predictions are quite specific. A Kissinger initiated peace conferece will start – in about 10 days. After all the lights go out in Ukraine, and after Russia detonates a small neutron bomb -tennis ball size- along with some plutonium, deep underneath a steel plant like Azovstal. The west will pay well over $300 billion for its reconstruction.

 

 

 

 

Ladapo

 

 

 

 

 

 

 

 

Lassalle
https://twitter.com/i/status/1579567313082544129

 

 

 

 

“Message: if you think we’re fucking around, consider this an attitude adjustment opportunity.”

You Can Always Dream (Jim Kunstler)

Forgive me for repeating what I’ve written more than once before: Russia will not benefit from having a broken, failed state on its doorstep. Such a situation would clearly just invite more international hugger-mugger. Rather, Russia will benefit hugely from having a neutral, functioning Ukraine next door, a state with ample agricultural resources that could plausibly feed its people and live in peace, perhaps even enjoy special trade privileges with its bigger neighbor to the east… a Ukraine that would be a geographical buffer between Russia and what is apt to be a very disorderly and distressed Western Europe on the other side. The Ukrainian leader, Mr. Zelenskyy, capped off the weeks of sabotage by appealing to the US and NATO to conduct “preemptive nuclear strikes” against Russia proper.

That’ll work in Ukraine’s favor, I’m sure. He promised to call German Chancellor Olaf Scholz and make the pitch for NATO jumping into the action on the ground. (And with whose army would that be?) Such cheek from this desperado! Going mad-dog is probably not a sign of confidence. As of Monday, October 10, Russia began delivering some disciplinary actions against Mr. Zelenskyy’s insolent regime. Russia sent missiles into at least 10 Ukrainian cities, targeting electric power generation, water, central heating, and other “key services” in Kiev and elsewhere. Message: if you think we’re fucking around, consider this an attitude adjustment opportunity.

The action is an overture to a strategic shift. Russia aims to speed up the game clock, consolidate its ownership of the Donbas provinces, destroy Ukraine’s remaining military capability, bust up enough stuff to perhaps prompt the Ukrainian people to ask whether continuing to follow Mr. Zelenskyy’s gang is a good idea, and leave no alternative to talks that will leave Ukraine neutralized. Mr. Putin is calling “Joe Biden’s” bluff. All of this could have been avoided, of course, if the maniacs of America’s deep state had simply abided by the promise made thirty years ago to not expand NATO. What part of that deal didn’t we understand? Apparently, all of it. On purpose. Because we have acted with conscious and arrogant dishonor.

Of course, our “president” could commence that nuclear war he affects to be so avid for. It would be a fitting career-capper for the Ol’ Dawg. The show-runner behind all this needless mayhem, former President Barack Obama, reminded us a while back: “Don’t underestimate Joe’s ability to fuck things up.” Roger that, BHO! Which gets back to that dream I had of the headline: BIDEN ARRESTED. It was good, but not enough. How about : BIDEN, OBAMA, AND 639 FEDERAL OFFICIALS IN NINE AGENCIES ARRESTED. What a strange moment in our long and steadfast history as an orderly Republic that would be. And yet, what a perfect ending to these years of perfidy and travail.

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No nukes, no NATO, no nazis.

Ukraine’s ‘Nazi Regime’ Must Be Dismantled – Medvedev (RT)

Former Russian President Dmitry Medvedev on Monday called for a “complete dismantling” of Ukraine’s “political regime.” Writing on Telegram, Medvedev, who now serves as deputy head of the Security Council, shared his “personal opinion,” claiming that the current “Nazi political regime” in Kiev will represent “a constant, direct and clear threat to Russia.” “Therefore, in addition to protecting our people and protecting the borders of the country, our future actions, in my opinion, should be aimed at a complete dismantling of the political regime of Ukraine,” Medvedev said. Commenting on the numerous missile strikes carried out across Ukraine on Monday morning, the former Russian leader said that that was a “first episode” and that “there will be others.”

Russian President Vladimir Putin earlier on Monday confirmed that the major operation against Ukrainian infrastructure was in response to the October 8 attack on the Crimean Bridge. Moscow considers it an act of terrorism organized by the Ukrainian security services. Claiming that “the Kiev regime has been using terrorist methods for a very long time,” Putin warned Ukraine against further attacks on Russian soil. Otherwise, Kiev will face a response “on a scale corresponding to the threats created against Russia,” the president said. Meanwhile, Ukraine has not claimed responsibility for the attack on the Crimean Bridge, despite the country’s top officials openly celebrating the deadly explosion.

The EU condemned Monday’s shelling of Ukrainian cities by Moscow, with the bloc’s top diplomat Josep Borrell pledging to provide more military assistance to Kiev in response. The Russian Defense Ministry confirmed that its forces had carried out multiple strikes “on objects of military command and control systems, communications and energy of Ukraine.” Kiev, Lviv, Kharkov, Odessa and other cities were targeted, according to the local authorities, while regions across Ukraine are facing blackouts and rotating power cuts.

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“..there was no land connecting Crimea to the rest of Russia; but now that Kherson and Donetsk are again part of Russia, traffic from Simferopol to Rostov can be sent around the northern shore of Sea of Azov..”

A Nice Bridge You Got There… (Dmitry Orlov)

A truck bomb exploded on the bridge that links Crimea with Krasnodar, shutting it down for almost a whole day. Oh, and before we forget, Krasny Liman, a railroad junction in Donetsk was temporarily surrendered to the relentlessly attacking Ukrainians (mostly Polish mercenaries, actually) who drenched it in their blood and festooned it with their billowing entrails in the process. These and other less significant events have caused some small but noisy part of Russian social media to explode in consternation, baying for revenge and generally acting dissatisfied with the progress made since the Special Operation was declared on February 22, 2022. Sure enough, plenty of these hysterical voices are actually paid Ukrainian agents tasked with spreading fear, uncertainty and doubt and, sure enough, the Special Operation will proceed regardless, so this is all just a temporary annoyance.

But I will comment on it because I feel that I have to, and then move on to more important things. The bridge across the Kerch Strait was under discussion for many decades. It was in the planning stages even while Crimea was still an autonomy within the constitutionally intact Ukraine, prior to the US-instigated violent coup of 2014. After Crimea rejoined Russia, it became extremely important to create a ground transportation link between it and the mainland, and the bridge was built in record time. It was a massive undertaking and is a high-prestige item for the Russian government. But there have also been some organizational issues. As it stands, yesterday a large tractor-trailer packed with explosives was detonated on the highway portion of the bridge just as a cargo train with cisterns of diesel was passing through.

The resulting explosion demolished two reinforced concrete highway spans and sooted up the rail bed. All train traffic and half of the road traffic were restarted that very day. There is equipment to X-ray all cargo passing through, but it wasn’t being used because of certain bureaucratic inadequacies; these, I am sure, will now be remedied. The reason the bridge was extremely important was because there was no land connecting Crimea to the rest of Russia; but now that Kherson and Donetsk are again part of Russia, traffic from Simferopol to Rostov can be sent around the northern shore of Sea of Azov (which is now an entirely Russian body of water); the difference is between 690km and 730km. The bridge is by means superfluous because the distance to Krasnodar, another regional hub, is 1030km by land and just 460km via the bridge. But the new land route from Moscow to Simferopol is 350km shorter.

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“.. the West’s “redirection” towards terrorism is an admission of military, economic and political defeat.”

West Has Now Set A Course On Total Terrorist Warfare (Saker)

From what I have read, a truck filled with explosives blew up, killing three people in a car nearby, and then the flames took over a train also crossing the bridge. That train was full of fuel. It is only thanks to the amazing speed at which the bridge crews reacted that the damage was limited to only 9 wagons and, therefore, to a much shorter segment of the rail tracks. Looking at the video, one would imagine that the bridge is in ruins. In fact, traffic was reestablished on both rail tracks and the road in less than 24 hours (with the exception of heavy trucks). In other words, this is yet another case of “it is humiliating, but not dangerous” But that is an increasingly mistaken notion: this time is also VERY dangerous.

It is self-evident that the Kiev regime would never have had the means, technical and political, to execute such an attack without being told to do so by its masters in the West. Such an attack, right on the heels of the attacks on of NS1/NS2 shows beyond any doubt that West has now set a course on total terrorist warfare. This makes sense, since for all the so-called “victories” of the NATO forces in the Ukraine, the reality is that they reconquered a few villages and towns while Russia liberated and then incorporated entire regions. And Russia did that while always being at a numerical disadvantage. And while inflicting 10:1 KIA ratios. In other words the West’s “redirection” towards terrorism is an admission of military, economic and political defeat.

While this is hardly a surprise, the West *always* uses terrorism against sovereign governments, this is still a very negative development for Russia. Simply put, there are always more targets than cops/guards. Furthermore, terrorists can always chose the time and location of their attacks. So far, the Ukronazi efforts in Russia yielded very little tangible benefits: the murder of Dugina made her into a martyr, the attack on NS1/NS2 really only hurt Germany and the EU, while the explosion on Crimean Bridge has proven that this is a very hard target which will be extremely hard to destroy short of using a tactical nuke.

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“The lightning strike de facto metastasizing of SMO into CTO means that the regime in Kiev and those supporting it are now considered as legitimate targets..”

Terror On Crimea Bridge Forces Russia To Unleash Shock’n Awe (Escobar)

So we had, in sequence, Ukrainian terrorists blowing up Darya Dugina’s car in a Moscow suburb (they admitted it); US/UK special forces (partially) blowing Nord Stream and Nord Stream 2 (they admitted and then retracted); and the terror attack on Krymsky Most (once again: admitted then retracted). Not to mention the shelling of Russian villages in Belgorod, NATO supplying long-range weapons to Kiev, and the routine execution of Russian soldiers. Darya Dugina, Nord Streams and Crimea Bridge make it an Act of War trifecta. So this time the response was inevitable – not even waiting for the first meeting since February of the Russian Security Council scheduled for the afternoon of 10 October.

Moscow launched the first wave of a Russian Shock’n Awe without even changing the status of the Special Military Operation (SMO) to Counter-Terrorist Operation (CTO), with all its serious military/legal implications. After all, even before the UN Security Council meeting, Russian public opinion was massively behind taking the gloves off. Putin had not even scheduled bilateral meetings with any of the members. Diplomatic sources hint that the decision to let the hammer come down had already been taken over the weekend. Shock’n Awe did not wait for the announcement of an ultimatum to Ukraine (that may come in a few days); an official declaration of war (not necessary); or even announcing which ‘”decision-making centers” in Ukraine would be hit.

The lightning strike de facto metastasizing of SMO into CTO means that the regime in Kiev and those supporting it are now considered as legitimate targets, just like ISIS and Jabhat al-Nusra during the Anti-Terror Operation (ATO) in Syria. And the change of status – now this is a real war on terror – means that terminating all strands of terrorism, physical, cultural, ideological, are the absolute priority, and not the safety of Ukrainian civilians. During the SMO, safety of civilians was paramount. Even the UN has been forced to admit that in over seven months of SMO the number of civilian casualties in Ukraine has been relatively low.

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‘The entry of the four provinces into Russia is not the last’.

All Quiet on the Eastern Front? Not At All, Atlantis (Batiushka)

We are still having our minds blown by President Putin’s Speech over a week ago. How many times we have listened to it and watched it. If I may say something personal, I can say that I have not even dared dream for over 40 years that a Russian leader would make such a speech. I thought I would die long before it would happen, even if it did happen. I was waiting for the end of the world and now hope has been given us. The President said it all, summing up an evil millennium of Western history, starting with its worldwide plunder and ending in its shameful Woke ideologies, the denial and destruction of Spiritual Reality, National Sovereignty and Family Life. Yes, this is Satanism against any sort of Spiritual Tradition. And only Russia has dared to oppose this Satanism. Needless to say, we stand behind the Russian Federation 100%. As the President, our President, said: ‘Nothing will be as before’.

The results from the referenda on returning to Russia in four Russian-speaking Ukrainian provinces came in nearly two weeks ago: Donetsk: 99% Lugansk: 98% Zaporozhie: 93% Kherson: 87%. Thus, on 30 September these four provinces, the size of four Belgiums, duly joined the Russian Federation, following the example of the Crimea over eight years ago. The results were interesting, as they showed how popularity for the move ‘declines’ as you move westwards, with Kherson at ‘only’ 87%. However, nobody should be surprised that Russian-speaking areas overwhelmingly, even if ‘only’ 87%, wanted to return to Russia, which is where they belonged until 1922. The voting, ethnicity, linguistic and religious patterns are clear from, for example, the maps and analysis of the Eurasian Research Institute.

Nobody should be surprised, unless of course they have no common sense, or else their common sense has been blinded by their ‘West is Best’ ideology, which is in fact the essence of Nazism. Nearly 10,000,000 people, nearly one quarter of the population of the Crimea-less Ukraine (pre-War population) (more people than those in Estonia, Latvia, Lithuania and Georgia combined), some 20% of the landmass of the Crimea-less Ukraine, an area nearly the size of England, joined the Russian Federation. Out of 25 provinces in the Ukraine before the violent, US-organised overthrow of the democratically-elected Ukrainian government (cost to the US taxpayer: $5 billion) in February 2014, 20 are now left. Who leaves next? As the head of the Republic of the Crimea, Sergei Aksjonov, said on 1 October: ‘The entry of the four provinces into Russia is not the last’.

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“The goal of the strike has been achieved. All designated objects have been hit..”

Russian MOD Comments On Results Of Strikes In Ukraine (RT)

A rocket barrage that targeted Ukrainian military objects and infrastructure has accomplished its goal, the Russian Defense Ministry claimed on Monday. The attack came after Moscow accused Kiev of orchestrating a deadly explosion on the strategic Crimean Bridge. Speaking at a regular briefing, Lieutenant General Igor Konashenkov noted that Russia had used high-precision and long-range weapons to hit objects on Ukrainian territory, including “military command facilities, communications and energy systems.”“The goal of the strike has been achieved. All designated objects have been hit,” he noted.

His comments came hours after Russia struck multiple targets in Kiev, with the city’s Mayor Vitaly Klitschko claiming that “critical infrastructure” had been affected. The attack also apparently hit Vladimirskaya Street, where the main office of the Security Service of Ukraine (SBU) is based, according to Anton Gerashchenko, an adviser to the interior minister. Apart from Kiev, several other Ukrainian cities were targeted, including Dnepr in east of the country, and Lviv in the west. Following the strikes, Ukrainian authorities reported blackouts in Lviv, Poltava, Sumy, Kharkov and Ternopol Regions, adding that in other parts of the country power supply had been partially disrupted.

On Monday, President Vladimir Putin warned Ukraine that if it orchestrates any new terrorist attacks on Russia, it “will respond firmly and on a scale corresponding to the threats created against” it. The attacks follow a powerful explosion that rocked the Crimean Bridge on Saturday, killing three and causing the partial collapse of the road section, as well as a blaze on the parallel railway span. While Ukrainian officials did not directly assume responsibility for the explosion, on Sunday Putin claimed that it was the Ukrainian intelligence service that had orchestrated the blast.

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“The cynicism is that the entire supply chain has been hit..” “It’s both electricity distribution systems and generation.”

Ukraine Halts Electricity Exports To EU (RT)

Damage to energy infrastructure caused by Moscow’s air strikes has forced Ukraine’s government to cut off electricity exports to the European Union, taking away a supply source that Kiev claims helped its partners reduce their reliance on power generated with Russian natural gas. “Today’s missile strikes, which hit the thermal generation and electrical substations, forced Ukraine to suspend electricity exports from October 11, 2022, to stabilize its own energy system,” the Ukrainian energy ministry said on Monday in a statement. The ministry noted that even after losing control of the Zaporozhye nuclear power plant to Russian forces in March, Kiev had been able to meet its export commitments to European partners, but Monday’s attacks were the largest of the entire conflict.

“The cynicism is that the entire supply chain has been hit,” Energy Minister German Galushchenko said. “It’s both electricity distribution systems and generation. The enemy’s goal is to make it difficult to reconnect electricity supplies from other sources.” Russian President Vladimir Putin said Monday’s air strikes on Kiev and other major Ukrainian cities – targeting military, energy and communications infrastructure – came in response to Ukraine’s attack on the strategic Crimean Bridge on Saturday. “If there are further attempts to conduct terrorist attacks on our soil, Russia will respond firmly and on a scale corresponding to the threats created against Russia,” Putin announced. Galushchenko, however, accused Moscow of waging “energy terror” in retaliation for Kiev helping other countries reduce their dependence on Russia.

After joining European energy system ENTSO-E back in June, Kiev said it expected to earn some €1.5 billion from electricity exports to the EU by the end of the year. “That is why Russia is destroying our energy system, killing the very possibility of exporting electricity from Ukraine,”the energy minister claimed. Ukrenergo, the national power grid operator, claimed its specialists have been “engaging backup supply schemes” and repaired some of the damage by Monday night. In the meantime the ministry urged “all citizens of Ukraine to unite” and minimize their energy use during the peak demand hours, arguing that not only Ukraine is implementing measures to reduce power consumption, but the “whole of Europe is doing this now.”

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“..if you, ladies and gentlemen, support beyond that point the Government of Ukraine, either in word or deed you support the backing and outright commission of terrorism.”

Dancing In The Streets…. (Denninger)

Who remembers those that danced in the streets and cheered when 9/11 happened? You’re old enough to remember that, right? It wasn’t that long ago. I remember it quite well and the level of revulsion I had for those who participated was visceral and permanent; it remains even today. The detonation on the land bridge to Crimea at first looked like perhaps part of an act of War; special forces or something like that who managed to infiltrate into the area and blow it up. That happens during wars. Except… a closer look discloses that this was clearly not such a thing at all. Indeed it appears to be a simple truck bomb and it was primarily aimed at civilians and civilian infrastructure. In other words exactly as was Oklahoma City or the first attempt at the World Trade Center in the case of a truck bomb, and exactly as were two airliners aimed at the Twin Towers.


Those were all…… terrorism. Do recall that after 9/11 some of the cheerleading was done by government actors in certain other nations. Well, the government of Ukraine has officially endorsed the truck bombing that, near as we can tell, killed only civilians. According to the NY Times, it would appear, they not only endorsed it they orchestrated it. In other words Zelinskyy is reasonably compared against Bin Laden, the Blind Sheikh or Timothy McVeigh. So if you, ladies and gentlemen, support beyond that point the Government of Ukraine, either in word or deed you support the backing and outright commission of terrorism. I find your actions equally revolting — and I will forevermore — exactly as I found those who danced when the towers came down. And that’s a fact.

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“..the next one “will be even more difficult.”

Hard Winter Ahead For Europe – Erdogan (RT)

European countries are about to face significant difficulties this winter amid limited deliveries of Russian natural gas, Türkiye’s President Recep Tayyip Erdogan said on Sunday. Speaking at the TUGVA youth forum, Türkiye’s leader noted that the whole continent “is on fire now.” “The entire Europe is wondering: ‘How will this winter go?’” he said. Meanwhile, according to Erdogan, his country will have no issues with energy resources in the coming months. “Thank God, we have made all our preparations… we have prepared everything for our nation, both natural gas and coal,” he stated. He also noted that the main issue for the nation is “how to deliver natural gas to our citizens at more affordable prices,” adding that Ankara is doing its best to achieve this goal. Erdogan went on to explain that Ankara is acting as a leading mediator between Ukraine and Russia, which have been locked in conflict since late February.


Several months ago, Ankara and the UN brokered a deal between Moscow and Kiev that unblocked Ukrainian grain exports via the Black Sea. Erdogan has also repeatedly urged the two parties to strike a peace deal. His comments come as Europe is reeling from an energy crisis fueled by skyrocketing gas prices due to sanctions the West has imposed on Russia over the conflict. While EU authorities have taken measures to cut energy consumption in a bid to alleviate the situation, various officials and public figures have warned of the desperate situation the continent may find itself. Earlier this month, Microsoft founder Bill Gates claimed that in a few months Europe may face a “very scary situation” as many could be unable to heat their homes. In late September, EU Energy Commissioner Kadri Simson also predicted that this winter “will not be easy,” adding that the next one “will be even more difficult.”

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“..the Kiev regime, by its actions, has actually put itself on the same level as international terrorist groups, and with the most odious of those. It is simply no longer possible to leave crimes of this kind without retaliation.”

Putin Meeting With Permanent Members Of The Russian Security Council (Saker)

The President held a briefing session with permanent members of the Security Council, via videoconference. “Colleagues, good afternoon, You know that yesterday Chairman of the Investigative Committee Alexander Bastrykin reported to me on the first results of the investigation into the act of sabotage on the Crimean Bridge. The forensic and other expert data, as well as operational information, show that the October 8 explosion was an act of terrorism aimed at destroying Russia’s civilian and critical infrastructure. It is also clear that the Ukrainian special services were the organisers and perpetrators of the attack. The Kiev regime has long been using terrorist methods, including murders of public figures, journalists and scientists, both in Ukraine and in Russia.

And terrorist attacks on towns in Donbass, which have been going on for more than eight years. And also acts of nuclear terrorism, by which I mean missile and artillery strikes on the Zaporozhye Nuclear Power Plant. This is not the whole story: Ukraine’s special services have also carried out three terrorist acts against Russia’s Kursk Nuclear Power Plant, repeatedly blowing up the plant’s high-voltage lines. The third such terrorist attack damaged three of those lines at once. The damage was repaired in the shortest possible time and there were no serious consequences. However, there have been a number of other terrorist attacks and attempts to commit similar crimes against electricity generation and gas transportation infrastructure facilities in our country, including an attempt to blow up a section of the TurkStream gas pipeline system.

All this has been proven by objective data, including the testimony of the detained perpetrators. It is well known that Russian representatives are not allowed to take part in the investigation into the causes of explosions at and the destruction of international gas pipelines running under the Baltic Sea. But we all know who ultimately benefits from this crime. Thus, the Kiev regime, by its actions, has actually put itself on the same level as international terrorist groups, and with the most odious of those. It is simply no longer possible to leave crimes of this kind without retaliation.”

Putin

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“..Britain’s evident interest in planning such an attack underscores the deep involvement of NATO powers in the Ukraine proxy war..”

Before Ukraine Blew Up Kerch Bridge, British Spies Plotted It (GZ)

The secret British intelligence plot to blow up Crimea’s Kerch Bridge is revealed in internal documents and correspondence obtained exclusively by The Grayzone. The Grayzone has obtained an April 2022 presentation drawn up for senior British intelligence officers hashing out an elaborate scheme to blow up Crimea’s Kerch Bridge with the involvement of specially trained Ukrainian soldiers. Almost six months after the plan was circulated, Kerch Bridge was attacked in an October 8th suicide bombing apparently overseen by Ukraine’s SBU intelligence services. Detailed proposals for providing “audacious” support to Kiev’s “maritime raiding operations” were drafted at the request of Chris Donnelly, a senior British Army intelligence operative and veteran high ranking NATO advisor. The wide-ranging plan’s core component was “destruction of the bridge over the Kerch Strait.”

Documents and correspondence plotting the operation were provided to The Grayzone by an anonymous source. The truck bombing of the Kerch Bridge differed operationally from the plot sketched therein. Yet, Britain’s evident interest in planning such an attack underscores the deep involvement of NATO powers in the Ukraine proxy war. At almost precisely the time that London reportedly sabotaged peace talks between Kiev and Moscow in April this year, British military intelligence operatives were drawing up blueprints to destroy a major Russian bridge crossed by thousands of civilians per day. The roadmap was produced by Hugh Ward, a British military veteran. A number of strategies for helping Ukraine “pose a threat to Russian naval forces” in the Black Sea are outlined.

The overriding objectives are stated as aiming to “degrade” Russia’s ability to blockade Kiev, “erode” Moscow’s “warfighting capability”, and isolate Russian land and maritime forces in Crimea by “denying resupply by sea and overland via Kerch bridge.” In an email, Ward asked Donnelly to “please protect this document,” and it’s easy to see why. Of these assorted plans, only the “Kerch Bridge Raid CONOPS [concept of operation]” is subject to a dedicated annex at the conclusion of Ward’s report, underlining its significance. The content amounts to direct, detailed advocacy for the commission of what could constitute a grave war crime. Markedly, in plotting ways to destroy a major passenger bridge, there is no reference to avoiding civilian casualties.

Across three separate pages, alongside diagrams, the author spells out the terms of the “mission” – “[disabling] the Kerch Bridge in a way that is audacious, disrupts road and rail access to Crimea and maritime access to the Sea of Azov.” Ward suggests that destroying the bridge “would require a cruise missile battery to hit the two concrete pillars either side of the central steel arch, which will cause a complete structural failure,” and “prevent any road re-supply from the Russian mainland to Crimea and temporally [sic] disrupt the shipping lane.”

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4 pillars.

Global Pandemic Response was a House of Cards (McCullough)

The last and longest hearing occurred on January 24, 2022, the day after the Defeat the Mandates Rally in Washington where tens of thousands of Americans gathered to hear about the unjust mandates from doctors, nurses, scientists, religious leaders, employment groups, and entertainers and journalists. The January 24, 2022, hearing was co-moderated by Dr. McCullough and this time had dozens of doctors, nurses, patients, attorneys, and press in attendance. In a roundtable presentations were given, and questions were answered on the “Four Pillars of Pandemic Response.” These principles of how a nation should use its public health and clinical resources to respond to a novel infectious outbreak were presented and published by Dr. McCullough in the fall of 2020: 1) contagion control, 2) early ambulatory treatment, 3) late treatment in the hospital, 4) vaccination.

The reason why McCullough’s four pillars are so important is that a balanced approach would have provided the most immediate relief and care to those who are ill at the moment to reduce hospitalizations and deaths while developing a longer-run strategy. The four pillars should have been the framework for monthly updates from the White House Task Force and the CDC/NIH/FDA with input from teams of practicing doctors and experts on each of the pillars. So when doing an evaluation of how America and the world performed in the COVID-19 crisis, the four pillars of pandemic response is a vital framework upon which to craft the exercise.


This structure can also apply to any local community, hospital, health system or other jurisdiction. Every single organization who acted in a capacity of making decisions during the pandemic and took responsibility on policy decisions should take the time and effort to do a post-mortem evaluation using the four pillars—it is likely they will quickly see their imbalanced set of errors—largely ones of omission on the pillars of early and late treatment cost hundreds of thousands of lives and millions of avoidable hospitalizations. Without the four pillars, global pandemic response was a house of cards.

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“But almost as bad, crooked Hillary deleted 33,000 emails under congressional subpoena. She acid-washed them. … [It’s a] very expensive process. That’s why nobody does it.”

Trump Shreds Four Former Presidents, Hillary Clinton (CB)

Former President Donald Trump tore into three former presidents and President Joe Biden’s Department of Justice at his most recent rally. The former president was in Nevada on Saturday when he insisted that the raid on Mar-a-Lago and the way he has been treated would not have happened to any other president, and he claimed to have proof. “This is a new hoax: the document hoax. Just look at how every other president has been treated when they left office. Very interesting. They’ve been given all the time needed [to return documents] — because you’re supposed to have as much time as you need — and complete deference when it came to their documents and their papers. ‘Take as much as you need,’” he said.

“Barack Hussein Obama moved more than 20 truckloads, over 33 million pages of documents, both classified and unclassified, to a poorly built and unsafe former furniture store located in a bad neighborhood in Chicago. With no security, by the way,” he said. He then went on to former President George W. Bush. “George W. Bush stored 68 million pages in a warehouse in Texas and lost 22 million emails. Can you imagine if I lost two emails? They’d say, ‘This is terrible. It must have been nuclear in those two.’ … He lost 22 million. Can you believe that we’re talking about millions of pages and they’re coming after me? But they’re still looking for them. They’re still looking for those pages,” he said before going for former President Bill Clinton.

“Bill Clinton took millions of documents from the White House to a former car dealership in Arkansas … and kept classified recordings in his sock drawer. In fact, he supposedly put the information from the White House into his socks and left the White House with the information, so we call it the sock case,” the former president said. “If I did that, there’d be major trouble and NARA — you know NARA, the National Archives and Records Administration — ‘lost’ an entire hard drive full of information from the Clinton White House. They lost it. They can’t find it,” he said. He then hit his favorite target, former Secretary of State Hillary Clinton, his opponent in the 2016 presidential election. “But almost as bad, crooked Hillary deleted 33,000 emails under congressional subpoena. She acid-washed them. … [It’s a] very expensive process. That’s why nobody does it. And then pounded her phones with hammers, making them totally unrecognizable to the naked eye. So she took those phones and she pounded the hell out of them,” the former president said.

He then went as far back as the late former President George H.W. Bush. “Meanwhile, George H.W bush took millions of documents to a former bowling alley and a former Chinese restaurant. … By contrast, I had a small number of boxes and storage at Mar-A-Lago — very small, relatively — guarded by the great Secret Service. And yet the FBI, with many people, raided my house. It’s in violation, by the way, of the Fourth Amendment, and many other things also,” he said. “The radical left thinks by doing all these sinister and venomous things, they’re making us weaker, but actually they are making us stronger and much more unified than ever before. I really believe that. I believe that,” the former president said.

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“Americans today are more likely to believe in witches, ghosts, and astrology than to trust the federal government.”

Julian Assange and Our Impunity Democracy (Bovard)

When the federal indictment against Assange was announced in 2019, a New York Times editorial declared that it was “aimed straight at the heart of the First Amendment” and would have a “chilling effect on American journalism as it has been practiced for generations.” Unfortunately, Americans and foreigners continue to suffer because of the perennial cover-ups of U.S. foreign interventions. After Britain arrested Assange on behalf of the U.S. government in 2019, Sen. Joe Manchin (D-WV) whooped that Assange “is our property and we can get the facts and the truth from him.” But Manchin had no recommendations on how Americans can “get the facts and the truth” from the federal government. Biden has ramped up U.S. bombings in Somalia: who exactly are we killing? It is a secret. Which Syrian terrorist groups are the U.S. government still bankrolling? It’s a secret. Why is the U.S. continuing to assist Saudi atrocities against Yemeni civilians? It’s a secret.

And then there’s the biggest and most dangerous secret operation on the horizon right now – the U.S. intervention in the Russia-Ukraine war. Folks can condemn Russia and support Ukraine without believing that Washington policymakers deserve a blank check to potentially drag America into a nuclear war. Are CIA analysts or Pentagon officials issuing warnings about U.S. government actions in this conflict could lead to a spiral that ends in catastrophe? Unfortunately, Americans won’t learn of any such memos until damage has been done. And if a disaster occurs, then we’ll see the same sham that occurred after the Iraq War – some Senate Committee blathering that no one is to blame because everyone in Washington was a victim of “group think.”

Federal prosecutors stress that Assange leaked “classified” information. But federal agencies are creating trillions of pages of new “classified’ secrets each year. Yet, any information which is classified is treated like a political holy relic that cannot be exposed without cursing the nation. Pervasive secrecy helps explain the collapse of trust in Washington. Americans today are more likely to believe in witches, ghosts, and astrology than to trust the federal government. Adding Assange’s scalp to the Justice Department’s trophy wall will do nothing to end the mistrust of the political ruling class that has dragged America into so many debacles. Assange is guilty of lese-majeste – embarrassing the government by exposing their follies, frauds, and crimes. Assange declared years ago, “If wars can be started by lies, they can be stopped by truth.” Dropping the charges against Assange is the best way for the Biden administration to prove it is serious about ending excessive secrecy.

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Stossel

 

 

 

 

 

 

 

 

 

 

Athens 1959
https://twitter.com/i/status/1579440770939228160

 

 


In 2015, photographer Atif Saeed captured this intense photograph of a male lion moments before it launched an attack on him. He narrowly escaped with this incredible shot of a face-to-face with a lion about to kill.

 

 

 

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

 

 

 

 

 

Oct 072022
 


Pablo Picasso Self portrait 1940

 

Kremlin Accuses Zelensky Of Trying To Start A World War (RT)
Top Russian Senator Urges Ukraine To Start Peace Talks ‘Today’ (RT)
Vladimir Putin’s Battle Cry Against the Deep State (Silva-Valladares)
Russian Ambassador Assesses Relations With US (RT)
The NS1 and NS2 Sabotage Impact Potential (Jorge Vilches)
Europe Faces Deindustrialization And Social Unrest – Belgian PM (RT)
Moscow Wonders If Washington Knows About Kiev’s Terrorism Plans (RT)
EU Must Decide Where It Stands On Ukraine – Kremlin (RT)
Beyond Confidence (CoS)
Is Giorgia Meloni Bringing Fascism Back To Italy? (Cardini)
Twitter Refuses Elon Musk’s Renewed $44B Bid (Crider)
This Could Be How Turkey Attacks Greece in 2023 (Rubin)
Enough Evidence To Indict Hunter Biden – WaPo (RT)
Waiting Lines At French Gas Stations Due To Fuel Shortage (AA)
Want To Save The Oceans? Stop Recycling Plastic (Chivers)

 

 

 

 

Happy bulking season

 

 

 

 

Ye

 

 

 

 

Kamala

 

 

 

 

Not just a world war, a nuclear one.

Kremlin Accuses Zelensky Of Trying To Start A World War (RT)

The Kremlin has accused Ukrainian President Vladimir Zelensky of trying to spark a third world war, after he demanded that NATO carry out preventive strikes on Russia to deter the use of nuclear weapons. Speaking to the Australian Lowy Institute on Thursday, Zelensky stated that NATO must ensure Moscow does not use nukes against Kiev’s forces. To do this, he called on the US-led military bloc and the international community to carry out preventive strikes against Russia so that it “knows what to expect” if it decides to use them. “What should NATO do? Eliminate the possibility of Russia using nuclear weapons,” Zelensky said during the online conference. “I once again appeal to the international community, as it was before February 24: preemptive strikes so that they [Russia] know what will happen to them if they use it, and not the other way around.”

Moscow has slammed Zelensky’s suggestion, with Kremlin spokesperson Dmitry Peskov stating that the Ukrainian leader’s comments are nothing short of an attempt to spark a world war, which would lead to “unforeseeable disastrous consequences.” Russia’s Foreign Ministry has also accused Zelensky of trying to provoke a nuclear war, with spokeswoman Maria Zakharova stating that “every person on the planet” should recognize that the“unbalanced” puppet leader of Ukraine, who has been pumped full of weapons, has turned into “a monster, whose hands can destroy the planet.”


The Kremlin has called on the international community to pay special attention to Zelensky’s statements, especially the US and the UK, who Peskov says are “de facto in control of Kiev’s actions” and therefore bear responsibility for the Ukrainian president’s words. Russia has repeatedly stated that it is not considering a nuclear strike on Ukraine but has warned that it will use any means necessary in order to protect its borders, people and sovereignty. Meanwhile, both Washington and London have also admitted that it is unlikely that Moscow will deploy tactical nukes in the Ukraine conflict and have seen no indications of Moscow preparing such an attack. Nevertheless, Western leaders have warned Russia against ever crossing that line, vowing “catastrophic consequences.”

Ze

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“We are saying it again – we are in favor of negotiations, of dialogue, of a peaceful political solution to this crisis. Let’s start talking. Let’s get behind the negotiating table..”

“Build your opponent a golden bridge to retreat across.” – Sun Tzu

Top Russian Senator Urges Ukraine To Start Peace Talks ‘Today’ (RT)

The head of Russia’s Federation Council, Valentina Matvienko, has called on the Ukrainian parliament to immediately engage in peace talks with a view to settling the conflict between the two countries. The proposal was made during the G20 parliamentary speakers’ summit in the Indonesian capital of Jakarta on Thursday. The Ukrainian delegation, headed by Verkhovna Rada chair Elena Kondratyuk, has also been invited to the event, despite the country not being part of the group of the world’s top economies. “Let us, the parliament of Russia and the parliament of Ukraine, sit behind the negotiating table today, at the G20 parliamentary platform. Let’s try to understand each other and find solutions,” Matvienko said.

The senator noted that Moscow and Kiev had almost reached a peace deal during talks in Istanbul in late March, but “Ukraine was obviously under external management at that time and gave up on those agreements.” Russia has made numerous offers to Kiev to engage in peace talks since the outbreak of the conflict in late February, she pointed out. “We are saying it again – we are in favor of negotiations, of dialogue, of a peaceful political solution to this crisis. Let’s start talking. Let’s get behind the negotiating table,” Matvienko suggested. The head of the upper house of the Russian parliament later clarified to journalists that Moscow was “ready to cease hostilities on the conditions that are being put forward by Russia.” This meant that the status of the Donetsk and Lugansk People’s Republics, as well as Kherson and Zaporozhye Regions, which officially became part of the Russian state on Wednesday, won’t be up for discussion during the negotiations with Ukraine, she said.

Matvienko said she wasn’t surprised by the lack of response to her proposal to start dialogue from the Ukrainian parliamentary delegation. “It’s understandable because Ukraine isn’t free in its decisions. It can’t make any decisions on its own, without the involvement of its masters,” she said, likely referring to Kiev’s backers in the US, UK, and the EU. Earlier this week, Ukrainian President Vladimir Zelensky signed a decree that forbade any negotiations with Russian President Vladimir Putin. Zelensky claimed that Ukraine would only talk to Russia if it had a different president. The Kremlin responded to the move by saying it was ready to wait for the Ukrainian president to change his stance or for Ukraine to find a new president with a different stance.

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“..what Putin has done is setting international rivalry in deep historical and cultural terms.”

Vladimir Putin’s Battle Cry Against the Deep State (Silva-Valladares)

The recent ceremony of accession of four Ukrainian regions to Russia brought a speech from President Putin that outlined the reasons behind Russia’s current struggles, the character and identify of its foes and, more importantly, laid the groundwork for Russia’s next level of confrontation with the West beyond the ongoing military conflict in Ukraine. In his speech, Putin clearly defined the present fight as a worldwide battle in which Russia plays a leading role against the Deep State that ultimately runs the West and which uses all available tools – including military, economic, cultural, and social – in its attempt to preserve unipolar world domination.

Putin’s words were directed to three distinctive audiences: the collective West, the Global South and Russia. He went back to Middle Ages history to remind the origins and impact of Western resource exploitation and colonialism in the Americas, Asia and Africa through imperialistic wars, racism, and slavery. He touched upon the military exploits of the 20th century led primarily by the US and its allies and its impact in Germany and Japan at the end of the Second World War, Korea in the 1950s, Vietnam in the 1960-70s and its latest failed adventures in Iraq, Libya, Syria, and Afghanistan. He also highlighted the dire days of Russia during the 1990s and the Western powers’ attempts to turn it into a dismembered and passive cheap natural resources outlet.

Putin’s message to Russians had nationalistic and religious tones, touching on the defence of traditional family values as a call to arms against the threat caused by dwindling population growth. He also named US monetary printing as one of the key tools used by the Western establishment to achieve its self-preservation and supremacy goals, reminding that paper doesn’t feed nor warms human beings. It would be tempting to see this speech narrowly as just another manifestation of Russia’s position in the big geopolitical battles, but what Putin has done is setting international rivalry in deep historical and cultural terms which have an undoubted appeal across the globe.


Putin turns 70 today

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“..the US is currently not ready for a complete severance of diplomatic ties with Russia, and plans to send a new ambassador to Moscow..”

Russian Ambassador Assesses Relations With US (RT)

Russia and the US have not yet reached an all-time low in their relations, as “dribs and drabs” of contacts still remain between the sides, Moscow’s ambassador to Washington said on Wednesday. “I think we haven’t yet reached the peak of tensions that existed 60 years ago,” Anatoly Antonov told Channel One. The envoy was referring to the Cuban Missile Crisis, which unfolded between the US and the Soviet Union in October and November 1962. The standoff is considered to be the closest the world has come to all-out nuclear war. Tensions flared after Moscow deployed ballistic missiles to Cuba in response to Washington putting similar weapons in Italy and Turkey. However, the sides were able to resolve the dispute through negotiations.

Russia’s stance that a nuclear conflict can’t be unleashed and can’t be won remains unchanged, the ambassador stressed. “In Washington, they’ve already forgotten the basics of strategic stability, which boils down to a very simple formula: whoever shoots first, dies second,” he said. “On the 60th anniversary of the Cuban Missile Crisis, I’d like to believe that there are those in the US who have learned this main lesson. In any case, our countries are obliged to prevent the world from sliding into a catastrophe,” Antonov insisted.Last month, Russian President Vladimir Putin slammed “some senior officials in NATO states” for suggesting that deploying nuclear weapons against Russia was justified. He warned that Moscow was ready to “use all means” to defend itself if attacked. However, those words were interpreted by some in the West as a threat by the Kremlin to use atomic weapons against Ukraine.

While most bilateral contacts have been frozen by the US side, Moscow and Washington still cooperate on deconfliction in Syria, space, and non-proliferation of weapons of mass destruction, the ambassador pointed out. According to Antonov, the US is currently not ready for a complete severance of diplomatic ties with Russia, and plans to send a new ambassador to Moscow is proof of that. Lynne Tracy, who now heads the American mission in Armenia, has been nominated as a replacement for US Ambassador to Russia John Sullivan, who left Moscow in early September due to family reasons. However, this does not mean Washington will give up on its plans to weaken Russia, by supporting Kiev and other means, the ambassador said.

Antonov went on to argue that the conflict in Ukraine has become a “trigger” that revealed “deep-rooted problems” in the world, and that Russia “isn’t satisfied with the rules of the game that the Americans are trying to impose,” which only benefit the US.

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Long and comprehensive from Jorge.

“..in a matter of a few weeks Europeans will engage in an HUGE internal brand NEW civilian war amongst themselves scrambling for ´whatever´(food, fuel, heat, etc.)..”

The NS1 and NS2 Sabotage Impact Potential (Jorge Vilches)

It’s valid to assume that the provoked NATO-Anglo-WEF-Ukraine war objectives were (1) to trigger regime change in Russia aided by military defeat while also (2) cutting Europe off Russia´s cheap and excellent resources thus also (3) choking Russia´s exports and funding. Sanctions, asset seizures and the NS1 & NS2 sabotage are smoking guns. Future consequent plundering of parts of Europe and Russia can also be assumed to be goal #4. The European leadership at large has, so far, aligned well with this plan.

[..] LNG cannot and will not save the day either. Nobody was ready for this, LNG today is scarce worldwide, no terminals available at either end, no tankers… etc., etc So Europeans are very calm even after both NS1 & NS2 have been blown up. As if they´d all do just fine, you just wait… Michael Hudson agrees when saying… ” Despite being an act of violence, sabotaging the pipelines has restored calm to US/NATO diplomatic relations.”But even if I were only 50% correct — the problem in producing onto surface the supposedly “stored” underground nat-gas is not known in Europe with 0 (zero) awareness about it. Europeans have all been convinced by politicians that they have their backs 90% covered and that with just a small savings of 15% approx. things will be okay this winter (NOT)

Europeans do know bloody well a rough winter is coming for them, but no one has warned them — such as I am doing — that it will be MUCH ROUGHER than what anybody is telling them because not even half of the supposed 90% “reserves” that would sorta get them through this winter okay will be anywhere near available. So it´d be everyone for himself/herself and country vs. country and NATO vs. NATO… on steroids and in a matter of a few weeks Europeans will engage in an HUGE internal brand NEW civilian war amongst themselves scrambling for ´whatever´(food, fuel, heat, etc.) that nobody has yet even thought about… let alone developed continengcy plans.

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This muppet is just as responsible as all the rest.

Europe Faces Deindustrialization And Social Unrest – Belgian PM (RT)

Europe could soon face a significant reduction in industrial activity and social unrest unless something is done to lower energy prices before winter sets in, Belgian Prime Minister Alexander De Croo has warned. In an interview with the Financial Times published on Thursday, he said that unless there was an intervention in the gas markets, “we are risking massive deindustrialization of the European continent and the long-term consequences that might actually be very deep.” De Croo insisted on a multi-layered approach to the gas crisis, which he says should include a hard price cap on Russian natural gas, negotiations with suppliers such as Norway and Algeria, and a “dynamic” limit on the price of liquefied natural gas (LNG), which he suggests could be set slightly above prices in the US or Asia to ensure continued flows to Europe.

The Belgian leader also warned that governments must be “prudent” not only to counter soaring inflation, which stems from high energy prices, but also tackle the risk of social unrest that comes with it. “Our populations are getting invoices which are completely insane. At some point, it will snap. I understand that people are angry . . . people don’t have the means to pay it,” De Croo told the FT. His comments come after thousands of demonstrators rallied in Brussels in late September to demand higher wages and lower energy prices after it was revealed that some 64% of the country’s citizens were afraid of not being able to pay their energy bills which had reached a staggering average of €700 ($690) a month.

The Belgian PM had previously warned that “the next five to ten winters will be difficult” in Europe due to record gas prices, but stated that Belgium would endure the crisis “if we support each other in these difficult times.” sGas prices in Europe surged earlier this year after Russia launched its military operation in Ukraine in late February. After the EU and other Western countries imposed sweeping sanctions on Moscow and began a campaign of cutting themselves off from Russian energy supplies, gas prices hit record levels, leading to a rise in overall inflation on the continent.

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Darya Dugina.

Moscow Wonders If Washington Knows About Kiev’s Terrorism Plans (RT)

Moscow hopes the US government did not leak its suspicions that Kiev masterminded a high-profile assassination in Russia with a view to disclaiming responsibility for future terrorist attacks, Kremlin spokesman Dmitry Peskov said on Thursday. He was commenting on a report in the New York Times, which contained details of an assessment by the US intelligence community regarding a bomb attack near Moscow in August, in which journalist and political activist Darya Dugina was killed. “The involvement of the Ukrainian state in this terrorist act, the murder of a young woman, was argued and demonstrated by our special services in a reasonably swift manner,” Peskov told journalists. The Kremlin spokesman noted the NYT article may be a positive development, provided that its reporting accurately reflects the stance of the US intelligence community.

“We really want to hope that this is not some attempt by the American colleagues, who may possess certain information, to disclaim responsibility for future terrorist acts that the Ukrainian state may be preparing,” he added. According to the NYT, American spies believe that “parts of the Ukrainian government authorized” the assassination of Dugina. Its sources claimed that the US had nothing to do with the crime and had no advance knowledge of it. Washington reportedly admonished Kiev for the killing, despite Ukraine’s insistence that it had nothing to do with it either. The story described Washington’s concerns about possible Russian retaliation for targeting Dugina and a number of Ukrainian officials who cooperated with Moscow in governing lands captured from Kiev.

A senior Ukrainian military official confirmed to the NYT that Kiev had carried out “attacks on accused Ukrainian collaborators,” some of which were fatal. “Some American officials believe it is crucial to curb what they see as dangerous adventurism [on Kiev’s part], particularly political assassinations,” the newspaper added. Dugina was the daughter of Russian philosopher Aleksandr Dugin, a controversial public figure known for his advocacy of Russian exceptionalism. Some observers claimed that his ideas had influenced Russian foreign policy, including Moscow’s decision to send troops into Ukraine in late February. Darya shared her father’s political convictions. Russia’s security service, the FSB, identified two Ukrainian nationals, a man and a woman, as members of a hit squad responsible for Dugina’s assassination. Both had left the country before they could be arrested.

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“..resolved diplomatically or in a violent manner..”

EU Must Decide Where It Stands On Ukraine – Kremlin (RT)

The European Union must decide whether it wants the Ukraine conflict to be resolved diplomatically or in a violent manner, Russian Foreign Ministry spokeswoman Maria Zakharova said at a briefing on Thursday
Asked to comment on Austria’s reported proposal to host de-escalation talks, Zakharova said Moscow could only contemplate such initiatives after the EU figures out what it stands for regarding Ukraine. “First of all, the EU should make up its mind about itself,” Zakharova said, urging the EU to decide whether it is pursuing a unified foreign policy or if decisions are handled by individual member states. Russia, she said, has repeatedly heard “contradicting statements” coming from the EU. Zakharova noted that many supposed initiatives had been put forward by member states and were later retracted or never followed-up on because they were not approved by Brussels.

“Secondly, the EU also needs to make up its mind whether they support the talks [on Ukraine], or the battlefield solution, as [EU foreign policy chief Josep] Borrell had put it,” she said. Zakharova’s comment comes after Borrell signaled on Wednesday that the EU was ready to seek a “diplomatic solution” to the conflict in Ukraine, but vowing that the bloc would continue to provide Kiev with military and financial support while ramping up pressure on Russia through sanctions. However, in April Borrell issued a much different statement, claiming then that the conflict in Ukraine “will be won on the battlefield.” Russia sent troops into Ukraine on February 24, citing Kiev’s failure to implement the Minsk agreements, designed to give the regions of Donetsk and Lugansk special status within the Ukrainian state.

The protocols, brokered by Germany and France, were first signed in 2014. Former Ukrainian President Pyotr Poroshenko has since admitted that Kiev’s main goal was to use the ceasefire to buy time and “create powerful armed forces.” During referendums that took place in late September, the two Donbass republics, along with Zaporozhye and Kherson Regions, overwhelmingly voted to join Russia. On Wednesday, Russian President Vladimir Putin signed into law unification treaties with former Ukrainian territories, officially making them part of Russia. Prior to this, the Russian leader vowed to use “all means” necessary to defend the country’s territorial integrity in the face of external threats.

Clare Daly

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“As Steve Keen puts it: “Capital without energy is a statue; labour without energy is a corpse!”

Beyond Confidence (CoS)

There were real world reasons for the run on the pound which followed (Kami)Kwasi Kwarteng’s ill-conceived mini-budget last Friday. The closest of these was the illiquidity of supposed “assets” held in the pensions industry and related concerns that the previous Monday’s Gilt (the equivalent of US Treasury Bonds) sale went badly, with investors demanding a much higher than expected interest rate for lending to the UK government. The Bank of England’s return to quantitative easing appears to have taken the immediate steam out of the crisis, and Kwarteng’s U-turn on cutting the highest tax rate has helped calm political nerves, allowing the pound to return to its level immediately before the mini-budget. The underlying problems, however, remain unaddressed.

The problem lay not so much with tax cuts – which have previously, in some circumstances, boosted growth – but with the UK government’s inability to finance them… and, indeed, the hundreds of billions already spent on energy bailouts and lockdown support. The Truss claim that tax cuts will be self-funding because of the additional growth they will generate is though, economic illiteracy. Over the last decade, the UK economy has been borrowing £5 for every £1 of economic growth – and this gap is projected to get far worse over the coming decade because of the emerging crises in the underlying “real” economy. Indeed, even during the heyday of North Sea oil and gas revenues, governments struggled to engineer growth rates anywhere close to what would be required to meet the Truss proposals.

With Russian gas no longer deliverable – even if the EU and Russia wanted to reach a deal – because of the sabotage of the Nord Stream pipelines, European gas shortages are inevitable. The only question to be answered is how bad the shortages will be. And while Britain is not a direct importer of much gas from Russia, our energy supply companies still buy and sell gas on the European market. So that, if, say, German companies are prepared to pay more, they can bid the price up far higher than the UK government anticipates. In which case its borrowing to fund the energy price cap could easily spiral up into the hundreds of billions and, given market reluctance to buy Gilts, send interest rates well into double figures.

Even this though, only scratches the surface of the crisis, because politicians and economists fail to understand the true role of energy in the economy. Indeed, most economic models do not even regard energy as a separate category, seeing it instead as just another, relatively cheap, input barely worth mentioning. The reality – as you and I would quickly discover if we went without food – calories – for any length of time, is that energy is the starting point for everything within the economy. No food equals no workers. No fuel and no electricity equals no capital. As Steve Keen puts it: “Capital without energy is a statue; labour without energy is a corpse!”

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Via Ugo Bardi’s site.

“..she does what she does because she cannot and will not do anything else..”

Is Giorgia Meloni Bringing Fascism Back To Italy? (Cardini)

They will say, as usual, that I have a weakness for Giorgia Meloni, but she does what she does because she cannot and will not do anything else. It’s her time: she is in the business of politics, she knows that her bus is passing, and it is unlikely for her to have such an opportunity again. It was a beautiful victory: not only, and not so much, for the response of the ballot box, however negatively conditioned by the very high number of non-voters that no politician worthy of the name can ignore or underestimate, but for having played all his opponents with a masterful move. She was the ugly duckling of the Italian parliament, perpetually threatened with the sword of Damocles of the renewed accusations of fascism that could strike her at any moment. But she managed to score a masterful blow, built little by little and day by day.

She, the leader of the Sovranisti, is also the leader of the Atlantists and Westernists. She knows well that this constitutes, conceptually, a paradox bordering on the tragic (or the ridiculous): under the flags of Italian sovereignty, she will have to lead his country on the path of subordination to NATO and the USA who hold us in their hands and who literally occupy our territory, our country. A verse of the anthem that gives the name to the party reads “Go outside of Italy, go away, foreigners”. Easy to recite it in the face of the rafts of the poor migrants of the Mediterranean sea. Impossible to sing it where it should be sung, in front of the gates of Ghedi, Dal Molin, and Camp Darby (translator’s note: American bases in Italy.), armed with the nuclear missiles banned by the Italian constitution and imposed by our guardian-master.

The same ones who also impose on us the burden of sanctions imposed on Russia but in reality intended to bring Europe to its knees with its consent that must be even enthusiastic. Giorgia Meloni managed to achieve all this: if she passes – and we will see – also the test of the winter of sanctions, during which we will see the iron rule according to which the prime minister in office is seen to blame not himself/herself but his predecessors, she really deserves to continue to lead the Italians despite the gloomy prophecies of Cassandra Calenda. (translator’s note: Carlo Calenda is an Italian politician.)

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What good is this for shareholders?

Twitter Refuses Elon Musk’s Renewed $44B Bid (Crider)

Twitter is refusing to accept Elon Musk’s renewed bid of $44 billion for the social media company, according to a report from The Associated Press citing Elon Musk’s attorneys. This news comes after reports of Elon Musk’s asking the Delaware court to halt the upcoming trial. He renewed his offer to purchase the social media network this week and shared a few details about his goals. “Buying Twitter is an accelerant to creating X, the everything app,” Elon Musk tweeted on Tuesday. He added that Twitter probably accelerates the new app by three to five years. AP noted that earlier this week, Twitter said it intended to close the deal at the agreed-upon price but both sides were still booked for the October 17th trial in Delaware. Elon Musk’s attorneys said the trial should be adjourned to give the Tesla CEO more time to secure financing.


In a court filing, Elon Musk’s attorneys said, “Twitter will not take yes for an answer.” “Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests.” The attorneys noted that by Twitter not setting aside its litigation, the upcoming trial would “impede the deal moving forward.” “Instead of allowing the parties to turn their focus to securing the debt financing necessary to consummate the transaction and preparing for a transition of the business, the parties will instead remain distracted by completing discovery and an unnecessary trial,” the attorneys said. According to Elon Musk’s attorneys, the financial backers, “have indicated that they are prepared to honor their commitments” and are working to close the deal by October 28.

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And then we have this too…

This Could Be How Turkey Attacks Greece in 2023 (Rubin)

Turkey’s President Recep Tayyip Erdogan is no fool. He understands the deep trouble in which he finds himself. His interest rate gamble failed; Turkey is nearly bankrupt. Inflation approaches 100 percent and Turkey’s currency is in freefall. Turks are unhappy. Meanwhile, elections loom. For years, such elections did not matter. Turkey’s opposition leaders are lazy, uncharismatic, or in prison. Erdogan controlled the media and mechanisms enough that he could push things his way without too many questions, at least from inside Turkey. That changed in 2019. The opposition Republican People’s Party narrowly won municipal elections in Istanbul and Ankara. The results shocked Erdogan who ordered a do-over in Istanbul.

Three months later, opposition candidate Ekrem Imamoglu increased his margin of victory to almost 10%, a result too great for even Erdogan’s machine to paper over. Pushed down and abused, Turks had had enough. As Turkey approaches both its symbolically important centenary next year and heads to parliamentary and presidential elections, Erdogan is worried. He knows under normal circumstances, he cannot win. Erdogan is no democrat. He cynically once liked democracy to a streetcar: he would ride it as far as he could and then step off. There are limits to his power, however. He needs an excuse either to postpone elections or to distract Turks with nationalism. A conflict with Greece checks both boxes. Erdogan is not stupid, though. After Vladimir Putin bogged down in Ukraine, he must question Turkey’s readiness.

After all, after the 2016 “Reichstag Fire” coup, Erdogan purged the military. Turkish special forces might fight Armenians in Nagorno-Karabakh or attack Kurds and Yezidis in Syria and Iraq with drones and F-16 fighters but combat against a near-peer NATO member is a different issue entirely. Greece’s military might be only one-quarter the size of Turkey’s, but moral is higher, and the Greeks not spread as thin. So how might Turkey precipitate the crisis? Erdogan will likely take a page from China’s playbook. The People’s Liberation Army has seized many rocks, reefs, and “features” in the South China Sea. It has not only transformed them into military bases, but has also used their possession to fortify Beijing’s illicit claims to extend its exclusive economic zone over 90% of the South China Sea’s waters.

China has acted both slowly and deliberated with a so-called salami-slicing strategy, digesting pieces but never biting off so much in one go that it provoked neighbors or the United States to the point of war. Erdogan and his defense minister, Hulusi Akar, increasingly dispute Greek sovereignty over islands in the Aegean Sea, in effect seeking to rewrite and reinterpret the 1923 Treaty of Lausanne and subsequent conventions and agreements. It is in the Aegean that Erdogan will likely make his move, arguing that they are Turkish and do not belong to Greece.

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“Agents “determined months ago” that they had a viable criminal case against the younger Biden, but the decision is up to the US attorney for Delaware David C. Weiss..”

Enough Evidence To Indict Hunter Biden – WaPo (RT)

Federal agents who have been investigating US President Joe Biden’s son Hunter have enough evidence to charge him with crimes related to taxes and a gun purchase, but the decision is up to a career prosecutor in Delaware, the Washington Post reported on Thursday citing sources. While the IRS has been looking into whether Hunter Biden did not declare income related to his overseas business ventures – from Ukraine to China – the FBI has been investigating a 2018 incident in which he answered “no” to the question about being a drug user or addict. In his 2021 memoir ‘Beautiful Things,’ the president’s son revealed that he had in fact been using crack cocaine and other drugs at the time.

Agents “determined months ago” that they had a viable criminal case against the younger Biden, but the decision is up to the US attorney for Delaware David C. Weiss to decide whether to pursue charges, the Post reported citing “people familiar with the case.” Weiss is a career prosecutor, but was appointed by President Donald Trump in late 2017. Trump had pointed to Hunter’s business dealings in Ukraine and the sex-and-drugs revelations from his laptop during the 2020 presidential campaign, charges which Biden and the Democrats denounced as “smears” and even “Russian disinformation.” Stories about the laptop were suppressed on social networks in the name of “fortifying” the presidential election, but the laptop’s contents was later confirmed to be entirely authentic.

Hunter’s false statements on the gun-purchase form would normally present a problem for his father, who is pursuing aggressive gun control legislation. According to the Post, prosecutions for the offense are “relatively rare,” with 60% of the referrals resulting in charges in 2018. However, it is “not uncommon for Justice Department investigations to take years to finish,” the paper said. The Post’s anonymous sources insisted Attorney General Merrick Garland had vowed there would be “no political or otherwise improper interference” in the Hunter Biden case. Republicans have accused Garland of politicizing the DOJ over prosecutions for the January 6 Capitol riot and the September raid on Trump’s Mar-a-Lago estate. Hunter’s attorney Chris Clark told the paper that leaking about the case itself is a federal felony and that he “had no contact whatsoever with any federal investigative agent.”

Hunter

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I swear I can see into the future…

Waiting Lines At French Gas Stations Due To Fuel Shortage (AA)

More than one in 10 gas stations in France was affected by a fuel shortage on Wednesday, local media reported. About 12% of stations have “difficulties with at least one type of fuel” at the pump, with the situation varying by region, government spokesman Olivier Veran told reporters after Wednesday’s Council of Ministers meeting. In the Hauts-de-France region, about 30% of stations are affected. French market leader TotalEnergies explained the supply shortages with “falling prices” at its stations. A discount of 20 cents per liter was added to the government discount of 30 cents per liter at all its TotalEnergies stations. This discount at the pumps led to a large rush, according to the company.


Added to this is a strike at six of the eight French refineries. The strike for higher wages, which began on Sept. 27, entered its second week. This again significantly aggravates the situation at the gas stations. Veran nevertheless rejected the term “fuel shortage.” He said it was only “tensions” in the supply of some gas stations, and urged motorists to avoid “panic.” In order to “restore a normal situation as soon as possible, so-called strategic stocks were released in the north today to replenish the gas stations,” the prefect of the Hauts-de-France region announced in a press release on Wednesday evening.

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So there.

Want To Save The Oceans? Stop Recycling Plastic (Chivers)

Recycling plastic is a bad idea and, until we can be sure of where it’s going, we should stop doing it. We should put plastic in the landfill, instead. This sounds like a really spicy hot take, but it’s not. I think it is pretty much accepted among people who study these things. The oceans are full of plastic, and that’s bad – but none of the plastic in the oceans comes from a British landfill. It almost all comes from developing-world countries, and by recycling we make the problem worse. About 0.05 per cent of plastic waste in the UK is “mismanaged” – that is, dropped as litter or dumped into the environment, or left in open landfill. By contrast, in India, that figure is over 20 per cent – 400 times higher. China is comparable, at about 19 per cent.

In the Philippines, that figure is about 6.5 per cent, still more than 100 times the UK level but not quite as dramatic. But the Philippines is a collection of small islands, so plastic litter easily reaches small rivers there and ends up in the sea. Malaysia, similarly, has less of a problem with mismanaged waste, but large percentages of what is mismanaged ends up in the sea. So the average bit of plastic in one of those countries is pretty likely to end up in the sea. Until 2018 a large fraction of the Western world’s “recycled” plastic was shipped to China, until China decided to stop taking it. Then rich countries started sending it to Malaysia, Thailand, Vietnam and Indonesia. But more than 80 per cent of plastic waste in those countries is mismanaged. It seems unlikely, to say the least, that so much of their own waste ends up in the rivers, but they nonetheless carefully recycle the waste sent to them by the West.

Now, several of those countries have severely limited the amount of plastic they import. So other countries – often countries with limited ability to recycle their own plastics – have stepped in. The Guardian reported in 2019 that much of the US’s waste now goes to Bangladesh, Laos, Ethiopia and Senegal. One paper this year estimated that of the 37,000 tons of plastic food packaging exported annually by the Netherlands, 6,000 tons end up in the sea. Not all recycling is like this. Some plastic is recycled in the countries that dispose of it – there are advanced plastic recycling facilities in the UK. But much of it ends up going overseas.

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“Don’t judge each day by the harvest you reap but by the seeds that you plant.”

~Robert Louis Stevenson

 

 

Stella

 

 

Assange
https://twitter.com/i/status/1578160859355877378

 

 

 

 


A baby green heron bridging the gap between birds and dinosaurs. Photo: JJJFrank

 

 

 


A macro photo of an ant’s face up close. Photo: Andrea Hallgass

 

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

 

 

 

Oct 172021
 


Pieter Bruegel the Elder The Triumph of Death 1562

 

A Desperate Biden Administration Turns to Terrorism (Daniel McAdams)
Horse-Bleep (Rescue)
The Antiviral Effects of Ivermectin on RNA Viruses (Nature)
Appeals Court Refuses to Stop Maine Vaccine Mandate (ET)
Covid Vaccine Stand-off Between Chicago Mayor, Police Hits Courts (Y!)
Alarm Bells Ringing Over Poor Greek Vax Rate (K.)
IMDB Steps In To Prop Up Audience Rating Of Fauci Documentary (JTN)
DHS Seeks To Track Biometric Data Of Workers (JTN)
Yes, Virginia, There is a Deep State (Taibbi)
Relentless Retail Inventory Squeeze amid Shortages & Supply Chain Chaos (WS)
Stella Moris On Her Secret Family With Julian Assange (G.)

 

 


Bare Shelves Biden

 

 

RIP
https://twitter.com/i/status/1449207395926745092

 

 

Daniel is Ron Paul’s right hand man.

A Desperate Biden Administration Turns to Terrorism (Daniel McAdams)

For Americans watching the shocking re-Nazification of Germany – where once again the ability to even buy food depends on a person’s physiological/medical status – it may be tempting to downplay the re-emergence of a nasty German political virus and scoff that, “it can’t happen here!” But it is happening here. The Biden Administration is sinking under the weight of its feeble figurehead, who is clearly living in a world of his own creation rather than living on planet reality. As Biden’s approval ratings plummet to near-historic depths, the people who run his administration – some say it’s really led by demon Susan Rice – are not backing off their hyper-authoritarian approach to…well, everything. In fact they’re doubling down.

Nurse shortage? Tough – get your shot. Billions of containers waiting to be unloaded and trucked to fill empty shelves? Tough – get your shot. Murder alley Chicago facing 50 percent less cops because those who don’t want the vax are being fired? Tough – get your shot. No one to fly the plane? Tough – get your shot. No teachers? Tough – get your shot! Into this explosion of malevolent incompetence staggers US Deputy Secretary of the Treasury Department Wally Adeyemo – second-highest ranker in the entire Department. The Nigerian-born Adeyemo, who previously served as director of African American outreach for the inspiring John Kerry 2004 presidential campaign and as a senior advisor to corrupt “woke” multi-gazillionaire Larry Fink, should be given credit for at least being honest about the intentions of his bosses in the Biden Administration.

Sometimes they tell the truth by accident. Interviewed on ABC News on Thursday, Adeyemo was asked about the thousands of container ships anchored offshore in California and elsewhere as US store shelves begin to look like Bulgaria circa 1975 – and even Santa Claus is sweating “supply chain” strangulation as Christmas quickly approaches. It’s not because Newsom’s California is a Marxist hellhole, where the religious fundamentalism of the Green New Deal fanatics has taken massive numbers of truckers off the road. Nope. It’s not Biden’s vax mandate which has unleashed a massive outflux of workers from their jobs – quitting or fired – at a time of severe labor shortages. Nope. The problem is you. You unwashed vermin who refuse to have a cocktail of experimental goop jabbed into your arm.

In the ABC interview Adeyemo admitted what we all know: inflation is beating the hell out of middle America (though Biden’s multi-millionaire chief-of-staff laughed it off as “high class problems”). “We are seeing high prices for some of the things that people have to buy,” Adeyemo told ABC’s Stephanie Ramos. But it’s not the Administration’s fault. Shelves bare? Treasury’s Number Two tells America it’s all the fault of those who have not yet succumbed to his boss’s demand that you take the jab: “The reality is that the only way we’re going to get to a place where we work through this transition is if everyone in America and everyone around the world gets vaccinated.” There is a word for this and it’s not actually blackmail. It’s terrorism. Until that part of America which has to this point decided that it does not want to take an unproven medical treatment is browbeaten – or worse – into submission to Fauci’s needle, the rest of the country will continue to suffer through empty shelves and a crappy Christmas. Too strong a word? Here’s how the dictionary defines terrorism:

Threat: You will eat nothing and you will be happy. Political objective: Get the shot! It’s terrorism plain and simple and the Biden Administration’s “War on Us” is taking a dangerous turn. The millions who have taken the shot are being baited to attack those who have for whatever reason – including the medically sound acquisition of natural immunity through contracting and defeating the virus – declined to take the medical procedure. In reality both groups should unite against the past two Administrations which have lied and intimidated Americans over the virus from nearly day one. But that would threaten the elites, who rule by divide-and-conquer tactics.

Duress
https://twitter.com/i/status/1449519642033197058

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“Within two days, 23.7 million people had seen that Pulitzer-worthy bit of Twitter talk.”

Horse-Bleep (Rescue)

In a hokey tweet on August 21, the U.S. Food and Drug Administration told Americans the obvious: “You are not a horse. You are not a cow. Seriously, y’all. Stop it.” Everyone knew what “it” was: an animal form of the drug ivermectin that folks were said to be using, widely, for covid-19. Don’t, said FDA. Within two days, 23.7 million people had seen that Pulitzer-worthy bit of Twitter talk. Hundreds of thousands more got the message on Facebook, LinkedIn, and from the Today Show’s 3 million-follower Instagram account. “That was great!” declared FDA Acting Commissioner Janet Woodcock in an email to her media team. “Even I saw it!” For the FDA, the “not-a-horse” tweet was “a unique viral moment,” a senior FDA official wrote to Woodcock, “in a time of incredible misinformation.”

There was one problem, however. The tweet was a direct outgrowth of wrong data—call it misinformation—put out the day before by the Mississippi health department. The FDA did not vet the data, according to our review of emails obtained under the Freedom of Information Act and questions to FDA officials. Instead, it saw Mississippi, as one email said, as “an opportunity to remind the public of our own warnings for ivermectin.” The story behind the tweet that went ’round the world shows how a myth was born about a safe, if now controversial, human drug that was FDA-approved for parasitic disease in 1996 and bestowed the Nobel Prize in Medicine in 2015. It is a story in which the barest grain of truth morphed into an anything-goes media firestorm.

It began with one sentence in a Mississippi health alert on reports to the state’s poison control center: “At least 70% of the recent calls have been related to ingestion of livestock or animal formulations of ivermectin purchased at livestock supply centers.” In the thick of a fierce covid wave in the American South, no official at the FDA, or reporter for that matter, seemed to ask: 70 percent of what? Instead, government and media joined forces against a public health threat that, in retrospect, was vastly exaggerated. Amid dozens of articles that ensued, Rolling Stone told of Oklahoma hospitals so jammed with ivermectin overdoses that gunshot victims had to wait for care—except it wasn’t true. Twice, The New York Times printed corrections of the same false information from Mississippi, which it described in one article and later removed, as “a staggering number of calls.” The Associated Press, Washington Post and, twice, the The Guardian in London also corrected its reporting on the alert. The Times’ correction summed it up: “This article misstated the percentage of recent calls to the Mississippi poison control center related to ivermectin. It was 2 percent, not 70 percent.”

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This is where you go: ”any questions?” No? Then let’s roll!

“..a 5000-fold reduction in viral RNA compared with control was found..”

The Antiviral Effects of Ivermectin on RNA Viruses (Nature)

In a recent in vitro study, the Vero/hSLAM cells infected with the SARS-CoV-2 or COVID-19 virus were exposed to 5 μM ivermectin in 48h, and a 5000-fold reduction in viral RNA compared with control was found. The results showed that treatment with ivermectin effectively kills almost all viral particles within 48h. The study was the first to assess the antiviral effect of ivermectin on COVID-19. The authors acknowledged that the drug may have antiviral effects by inhibiting the importin (IMP) α/β receptor, which is responsible for transmitting viral proteins into the host cell nucleus. The authors proposed human studies to confirm the potential benefits of ivermectin in the treatment of COVID-19. Although this study was the first to confirm the antiviral effect of ivermectin on COVID-19, other studies examined the antiviral effects of the drug on both RNA and DNA viruses..

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“We look forward to a decision from the Court of Appeals. If that decision is not favorable, we will request emergency relief from the Supreme Court..”

Appeals Court Refuses to Stop Maine Vaccine Mandate (ET)

The 1st U.S. Circuit Court of Appeals on Friday refused to issue an emergency injunction to stop Maine’s COVID-19 vaccine mandate. The three-judge panel of the Boston-based court issued a one-sentence statement saying the request was denied without an explanation, The Bangor Daily News reported. A final ruling will likely be issued next week, according to Liberty Counsel, an organization representing more than 2,000 health care workers across the state in the lawsuit. “We look forward to a decision from the Court of Appeals. If that decision is not favorable, we will request emergency relief from the Supreme Court,” Liberty Counsel Founder and Chairman Mat Staver said in a statement. Maine Attorney General Aaron Frey applauded the decision.

“We are pleased with the decision and will continue to vigorously defend the requirement that health care workers in Maine be vaccinated against COVID-19,” he said in a statement obtained by The Hill. Maine Governor Janet Mills, a Democrat, announced her state’s mandate on Aug. 12 that workers have until Oct. 29 to comply. Exemptions were allowed for medical reasons. Unlike most states, Maine does not allow for religious or philosophical exemptions to vaccine requirements. The plan was challenged by a group of healthcare workers who said they opposed COVID-19 vaccines because some vaccines were developed from cell lines of aborted fetuses. The workers also sued several healthcare companies where they work.

U.S. district judge Jon Levy ruled on Wednesday that Maine can bar religious exemptions to its requirement that healthcare workers in the state get vaccinated against COVID-19. Levy, who was nominated by former President Barack Obama, said the healthcare workers who brought the case have not been prevented from staying true to their religious beliefs, although refusing the vaccine will cost them their jobs.

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“The Chicago stand-off comes as the city once again leads the United States in murders, with 639 homicides this year through October 13 — up 55 percent from two years ago.”

Covid Vaccine Stand-off Between Chicago Mayor, Police Hits Courts (Y!)

A Chicago judge on Friday banned a police union president from making public statements on the city’s Covid-19 policy as a stand-off over vaccine mandates sparked dueling lawsuits. The dispute between mayor Lori Lightfoot and police union head John Catanzara has made the city the latest flashpoint in a deeply polarized debate over vaccines and whether governments have the right to mandate them. Lightfoot sought and received an injunction against Catanzara Friday when the judge issued a 10-day restraining order that bans him from making statements that encourage members not to report their vaccination status.

The police union filed its own lawsuit Friday against Lightfoot and Chicago Police Superintendent David Brown that seeks to force arbitration over the matter. Like all city employees, Chicago police officers have been mandated to report their vaccine status to an online portal by midnight Friday. Those not vaccinated will be subject to twice-weekly testing. Those who refuse to disclose their status have a few days’ grace to explain themselves — but face being placed on unpaid leave and eventually fired. In two videos released this week, Catanzara urged police officers to ignore the order and risk loss of pay. On Tuesday, he predicted that if a large number of officers refused to be tested or report their vaccinations, Chicago would have a “police force at 50 percent or less for this weekend.”

Lightfoot responded by saying: “I cannot and will not stand idly by while the rhetoric of conspiracy theorists threatens the health and safety of Chicago’s residents and first responders.” She also said Catanzara was “encouraging a work stoppage or strike.” Both state law and the union contract prohibits Chicago police from striking. The union responded with a tweet Friday saying: “President John Catanzara has never engaged in, supported, or encouraged a work stoppage.” [..] The Chicago stand-off comes as the city once again leads the United States in murders, with 639 homicides this year through October 13 — up 55 percent from two years ago. With shootings also up 68 percent over the period and carjackings heading for a record, the threat of losing much of the police force, even temporarily, has caused a deep sense of unease.

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Nobody I know believes the 62% vaccination rate.

Alarm Bells Ringing Over Poor Greek Vax Rate (K.)

Authorities are feeling increasingly uneasy about the pace of the country’s vaccination program, which is moving even slower in October than September, which had also seen a drop. As a result the aim to vaccinate at least 70% of the population to create the coveted wall of immunity is being further delayed, with winter just around the corner. In early September, after the summer holidays, there was a slight increase compared to the August break, with an average of about 20,000 shots being administered per day. The goal was to gradually increase this number in October so that by the end of the month or the beginning of November an additional million people would be vaccinated.

However, this was not meant to be, as in the first two weeks of October, there was a dip in appointments for the first dose – less than half compared to September. According to data.gov.gr, 62% of the population has received a single dose. The average daily rate of single dose shots in October was 5,500, while in September it was almost 13,000. By the time Greece reached the peak of the vaccination program in June, there was an average of 93,130 vaccinations per day being administered, of which 39,707 were first doses. This was because there was still a large proportion of the population which was positively inclined to the vaccine but wanted to wait a while before going ahead with it.

Currently, the percentage that has not been vaccinated is about the same as the percentage that indicated in the polls they would not get a jab or expressed caution about it. Bearing this in mind, targeted campaigns may be launched in the near future. Getting results, however, will be a tall order.

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Ha ha ha! Brilliant.

IMDB Steps In To Prop Up Audience Rating Of Fauci Documentary (JTN)

A documentary film tracking Dr. Anthony Fauci’s medical career from the AIDS crisis to COVID-19, is creating controversy away from the big screen. “Fauci,” from NatGeo and Magnolia Pictures, hit select theaters Sept. 10 before getting a Disney+ release earlier this month. The documentary lets disparate figures like President George W. Bush, U2’s Bono and Bill Gates praise the Infectious disease specialist. The studios failed to make the documentary’s box office figures available to film industry sites or JustTheNews.com. The vast majority of studios, large and small, routinely share that data, as NatGeo and Magnolia have done on previous releases.

Movie fans then noticed RottenTomatoes.com, arguably the biggest review aggregator site on the web, didn’t initially feature any “audience” reviews of the film. Mainstream film critics saluted “Fauci,” although most admitted the film served up a hagiography of the 80-year-old bureaucrat. Once audiences started weighing in on the film at Rotten Tomatoes, though, the results were withering. Professional critics gave “Fauci” a 92% “fresh” score, while audiences gave it just a 2% — or “rotten” — rating. A similar pattern emerged at IMDB.com, a major film and TV reference destination. “Fauci’s” audience rating, on a scale from 1-10, hovered around 1.8. This week, however, the site altered its review algorithm. Now, the audience review tally is a more robust 5.8.

A quick glimpse at the review breakdown, provided by the site, shows the overwhelming number of audience critics gave the film a one-star rating. The site now features this explanation: “NOTE: Our rating mechanism has detected unusual voting activity on this title. To preserve the reliability of our rating system, an alternate weighting calculation has been applied.”

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Next step after the Green Pass.

DHS Seeks To Track Biometric Data Of Workers (JTN)

The U.S. Department of Homeland Security is seeking proposals for a new system that will allow it to track the biometric data of its workers in order to monitor their physical and mental well-being. DHS said in a call for proposals this week that it is looking to “find innovative technological solutions that will improve the overall health and wellness of those consistently placed in high-stress and dangerous conditions” under DHS employment. “DHS is seeking capabilities that not only promote intervention action when necessary, but preemptively and in real-time optimize DHS personnel performance and resilience,” the agency added. The window for proposals for the project extends until next April.

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“Carollo looks like he’s about six, and I say that fully conceding jealousy over his full head of hair.”

Yes, Virginia, There is a Deep State (Taibbi)

On The Young Turks the other night, during a segment called — this is not a joke — “RebelHQ,” commentator Ben Carollo extolled the virtues of the CIA. In one section, he described how intelligence officials responded to “Donald Trump trying to plan some ridiculous scheme to maintain himself as president”: “It’s not a conspiracy theory to say that these government officials wanted to listen to congress and cared about Democratic norms and respected the constitutional structure of the way the United States is today.” When I first heard Carollo talking about the desire of intelligence officials to “listen to congress,” I thought he was being literal.

Maybe, I thought, he meant that time in 2014, when the CIA spied on the the Senate Intelligence Committee’s investigation into its torture program, wiring up Senate computers and reading staffers’ emails. Or perhaps he meant that time in 2015, when the Obama administration was using the NSA to listen to Israeli critics of his Iran deal, and ended up with “inadvertent” access to phone calls back and forth with political opponents in the U.S. congress, on both sides of the aisle. Or, maybe Carollo also meant that time when the CIA intercepted communications between the Inspector General of the Intelligence Community and congressional staff, about pending whistleblower complaints. As the ICIG put it in one of its declassified notifications, “CIA security compiled a report that includes excerpts of these whistleblower-related communications, and this report was eventually shared with CIA management.” This way, the CIA bosses could know ahead of time who was going to congress with complaints about abuses! Good times.

Alas, Carollo didn’t mean intelligence officials are listening to congress in that sense. His video essay entitled, “Fact-checking Glenn Greenwald’s stunt on Fox News,” was designed to refute the apparently ridiculous notion that “there’s some sort of secret deep state working behind the scenes.” A central part of his argument is that unlike agencies like Homeland Security, formed under the Republican administration of George W. Bush and designed to be “far more shielded from congressional oversight,” the CIA reports to congress and basically does what it’s told. The agencies with the real power to color outside the lines, Carollo tells us, are DHS-sub-operations, “specifically ICE, and Customs and Border Control,” which “have far less congressional oversight and far less structure in place for there to be those checks and balances.” Because of that, Carollo says, “Donald Trump was more than capable of enacting an extremely racist border policy.”

Even the Pentagon and the defense intelligence agencies are less of a concern, he said, because “when it comes to something like the military, there’s a long history of deep congressional oversight,” and “many checks and balances that are put into place.” Carollo looks like he’s about six, and I say that fully conceding jealousy over his full head of hair. It’s relevant only because he’s representative of a generation of young, left-leaning intellectuals who grew up in the Trump years believing the CIA, FBI, NSA, and other such agencies to be trusted, straight-and-narrow defenders of democratic “norms.” These credulous kids with piercings and chin-beards who think the secret services are on their side are the fruits of one of the great P.R. campaigns of our time.

Read more …

Great Reset.

Relentless Retail Inventory Squeeze amid Shortages & Supply Chain Chaos (WS)

The holiday selling season is approaching, and a whole litany of weird shortages is ricocheting through the economy. Stuff suddenly gets hung up somewhere, on a ship, or in a port, and then ends up somewhere else, or it’s on backorder for months, as manufacturers are struggling with material shortages and in in Asia with Covid outbreaks that shut down factories for weeks at a time. And stimulus-fueled demand in the US has been huge and relentless, while retailers are struggling with inventories, some more than others. Auto dealers, particularly new-vehicle dealers, are experiencing catastrophic shortages of popular models, as automakers have been getting blasted by semiconductor shortages that simply refuse to abate, leading to rotating shutdowns of assembly plants globally.

Auto dealers are the largest retailer segment, with their sales normally accounting for over 20% of total retail sales, and with their inventories normally accounting for 33% of total retail inventories. Inventories at auto dealers, measured in dollars, declined to a new multi-year low of $151 billion in August, according to data released by the Commerce Department on Friday. The long-term dollar-increase in inventory levels that you can see in the chart above is a reflection of higher costs per vehicle in inventory. But the number of vehicles in inventory has been in the same range for two decades, as unit sales have mostly been below the peak achieved in the year 2000.


It’s even worse during the current shortages: Inventory in dollars – though it collapsed – is being inflated by the shift to high-end models as automakers are prioritizing the biggest money makers. Sales of new and used vehicles also collapsed as there hasn’t been enough to sell. The industry-standard Seasonally Adjusted Annual Rate (SAAR) of sales plunged five months in a row and is down by 33% from May:

And so the inventory-sales ratio – inventories divided by sales, a standard metric of supply that cancels out the impact of price increases – has been ticking up over the past three months from the May low, which had been the lowest in the data going back to 1992. The upticks were driven by sales that collapsed even faster than inventories. Following the Lehman bankruptcy, new vehicle sales plunged, and the US was suddenly drowning in inventory, and the inventory-sales ratio spiked. During the pandemic, the opposite occurred: Fueled by huge amounts of fiscal and monetary stimulus, retail demand surged and collided with production woes due at first to Covid issues and then the semiconductor shortage. And prices have spiked, with many new vehicles being sold at prices well above sticker, which is nuts.

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Really, Stella, talk to the Guardian? They were only ever going to smear Julian even more, while washing their hands of their role in his misery,

Stella Moris On Her Secret Family With Julian Assange (G.)

In May 2012, the UK’s supreme court ruled he should be extradited to Sweden. In June, Assange entered the Ecuadorian embassy, where he could not be arrested because of the international legal protection afforded diplomatic premises, and refused to come out. In doing so, he breached his bail conditions. Two months later, Ecuador granted Assange political asylum, stating that they feared his human rights would be violated if he were extradited. By now, Assange had fallen out with former colleagues at WikiLeaks and collaborators at mainstream news organisations. His relationship with the Guardian soured over the decision to bring the New York Times into the collaboration, and he was angered that the Guardian investigated the Swedish allegations, rather than supporting him unquestioningly.

He was also furious about details published in a Guardian book, WikiLeaks: Inside Julian Assange’s War on Secrecy. Meanwhile, all five media partners condemned his decision to publish Cablegate unredacted, potentially endangering the lives of thousands of activists and informers in countries including Israel, Jordan, Iran and Afghanistan. The situation could not have been messier. He fell out with so many people: WikiLeaks staff, his lawyer Mark Stephens, the writer Andrew O’Hagan, who had been contracted to ghost a book out of him, which Assange never delivered. Laura Poitras’s film about Assange, Risk, is particularly poignant because she had started the project as a fan. In it, Assange comes across as vain, sexist, arrogant and messianic.

The allegations of hypocrisy were most damaging: Poitras reveals that Assange told her the film was a threat to his freedom and demanded scenes be removed. “He was really angry and he tried to intimidate,” Poitras told me at the time of Risk’s release. James Ball, global editor at the Bureau of Investigative Journalism and former Guardian journalist, briefly worked for WikiLeaks. He talks about the “incredible intensity” of his time at Ellingham House. “We were in the middle of nowhere in Norfolk, and we couldn’t bring phones because they could be tracked, so we were cut off from friends and family.” Ball challenged Assange when he was asked to sign a non-disclosure agreement, with a £12m penalty clause, that would have prevented him saying anything about WikiLeaks for two decades.

“Julian basically told everyone not to let me go to bed till I agreed to sign,” Ball says. Eventually, he did get to bed without signing. “I was woken up by Julian who was sitting on my bed, pressuring me again. He was prodding me in the face with a cuddly toy giraffe. I managed to get out, and then I got really angry for several months. A friend suggested I look into cult deprogramming. I don’t think Julian necessarily meant to build a cult, but WikiLeaks did operate like one.” Moris dismisses all the criticism of Assange as character assassination. Does she think his reputation for being difficult is fair? “How many publishers, editors, CEOs have a reputation for being nice and agreeable?” she asks. “Julian doesn’t like people who are deceitful, Julian doesn’t like opportunists, and he can be quite direct. Also people who are on the autism spectrum don’t score particularly high on the agreeableness scale.” (A psychiatrist confirmed a diagnosis of Asperger syndrome in last year’s extradition hearing.)

Read more …

 

 

 

 

 

Major league weird.

 

 

Leonardo da Vinci’s self-supporting bridge.

 

 

 

 

 

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

 

Jul 022021
 


Vincent van Gogh The good Samaritan (after Delacroix) 1890

 

Not Enough Evidence To Back Covid Jabs For Children, Says UK Expert (G.)
Face Masks Cause Children to Inhale Dangerous Levels of Carbon Dioxide (LDS)
Fauci: “There Are Now Two Americas, The Vaccinated & The Unvaccinated” (SN)
Germany Weighs New Travel Rules Amid Rise Of Delta Variant (NIE)
Donald Trump Jr. Blasts Weisselberg Indictment As ‘Banana Republic Stuff’ (NYP)
Judge Rules To Unseal Dozens Of Ghislaine Maxwell Documents (DM)
Inside Biden’s New “Domestic Terrorism” Strategy (OffG)
US Adds Turkey to List of Countries Who Use Child Soldiers (GR)
The Self-Made Billionaire Who Is Sacrificing It All For God (Fed.)
Facebook To Warn When Your Friends Begin Thinking For Themselves (BBee)

 

 

The battlefield stances appear to be hardening. Facebook warns about extremism, there are more and more articles published in outlets belonging to the Trusted News Initiative (which is all major outlets) that deny and/or question anything related to dangers of vaccines and/or safety of ivermectin et al. The walls are closing in. Keep safe.

 

 

Brian Tyson

 

 

Daniel Kotzin @danielkotzin

If you’re a member of one or more of the following groups, the chance that exposure to Covid will harm you is ~0:
• You’ve had Covid and recovered.
• You’ve been vaxxed.
• You’re under 60 and not obese.
This covers virtually all Americans. There is literally no one left to “protect.”

 

 

McCullough treatment

 

 

 

 

Richard Fleming

 

 

Did this slip by the Guardian board?

Not Enough Evidence To Back Covid Jabs For Children, Says UK Expert (G.)

One of the UK’s leading childhood health experts has said there is not enough evidence to support vaccinating children against Covid, and the body that will make the decision on whether to jab under-18s has indicated it will take a cautious approach. Prof Calum Semple, a member of the Scientific Advisory Group for Emergencies (Sage), said there was “rock-solid data” to show that the risk of severe harm to children from Covid was “incredibly low”. Speaking to BBC Breakfast in a personal capacity, he said not enough was yet known about possible damaging side-effects if children were given Covid jabs. The Pfizer/BioNTech vaccine has been given approval by the UK medicines regulator for children aged 12-15, and it is being administered for these age groups in the US and Israel.

Prof Anthony Harnden, the deputy chair of the Joint Committee on Vaccination and Immunisation, said it would decide within weeks whether to allow children to be vaccinated. “JCVI are very aware of the issues surrounding both the pros and the cons of vaccinating their children, which we will talk about it in due course, but actually what we need to be absolutely sure is that these vaccines benefit children in some way … so we are looking at this data very carefully,” Harnden told BBC Radio 4 Today’s programme. He added: “Clearly we’re going to have to make a view on it over the forthcoming weeks.” Semple said: “There’s very nuanced debate going on here, but at the moment I don’t think there’s enough evidence to support vaccinating children.

“We’ve looked really carefully at Sars-Cov infection in children in the second wave and the first wave, so we’ve got really rock-solid data, and the risks of severe disease, and even the risk of long Covid and multi-inflammatory syndrome, are incredibly low.” He added: “Vaccines are safe, but not entirely risk free. We are aware in adults about clots, and there’s some safety data from America showing rare heart problems associated with some of the vaccines. So until that data is really complete for children. I’m not persuaded that the risk benefit for children has been clarified.”

Read more …

Normal CO2 level: 0.04%
Upper safety limit: 0.2%
With mask: 1.3%

Face Masks Cause Children to Inhale Dangerous Levels of Carbon Dioxide (LDS)

New research published in JAMA (Journal of the American Medical Association) has found that wearing a face mask causes children to inhale dangerous levels of carbon dioxide that becomes trapped behind the mask. The peer-reviewed research letter from Dr Harald Walach and colleagues found that the air masked children inhaled contained more than six times the legal safe limit set down for closed rooms by the German Federal Environmental Office. The safe limit is 0.2% while the air the masked children inhaled was over 1.3% carbon dioxide. The effect was worse for younger children, with one seven year-old child inhaling air with 2.5% carbon dioxide, over 12 times the safe limit. The study looked at two types of mask, FFP2 masks and surgical masks, and found no significant difference between the two.

The authors explained that this alarming result likely explains the complaints from children who wear face masks for long periods. “Most of the complaints reported by children can be understood as consequences of elevated carbon dioxide levels in inhaled air. This is because of the dead-space volume of the masks, which collects exhaled carbon dioxide quickly after a short time. This carbon dioxide mixes with fresh air and elevates the carbon dioxide content of inhaled air under the mask, and this was more pronounced in this study for younger children. This leads in turn to impairments attributable to hypercapnia. A recent review concluded that there was ample evidence for adverse effects of wearing such masks. We suggest that decision-makers weigh the hard evidence produced by these experimental measurements accordingly, which suggest that children should not be forced to wear face masks.”

Tucker JAMA

Read more …

A second hand car salesman selling science.

Fauci: “There Are Now Two Americas, The Vaccinated & The Unvaccinated” (SN)

America’s favourite Chinese lab funding coronavirus doomonger doctor Anthony Fauci announced Tuesday that there are now two Americas, a vaccinated America and an unvaccinated America. In an appearance on Dom Lemon’s CNN panic hour, Fauci declared that “When you have such a low level of vaccination super-imposed upon a variant that has a high degree of efficiency of spread, what you are going to see among under-vaccinated regions, states, cities or counties you’re going to see these individual types of blips. It’s almost like it’s going to be two Americas.”


“You’re going to have areas where vaccination rate is high, where more than 70% of the population received at least one dose,” he continued, adding “When you compare that to areas where you may have 35% of the people vaccinated, you clearly have a high risk of seeing these spikes in those selected areas.” Inevitably, Fauci concluded “The thing that’s so frustrating about this, Don, is that this is entirely avoidable, entirely preventable.” “If you are vaccinated, you diminish dramatically your risk of getting infected and even more dramatically your risk of getting seriously ill. If you are not vaccinated, you are at considerable risk,” Fauci once again repeated.

Read more …

They’re loosening them.

Germany Weighs New Travel Rules Amid Rise Of Delta Variant (NIE)

The Delta variant of the coronavirus could be dominant in Germany in the next few days, meaning that current bans on most travellers from Britain or Portugal may be lifted, Health Minister Jens Spahn said Thursday. “I expect that in the course of July we will see Delta accounting for over 70 to 80 percent of infections in our country,” Spahn told a government press conference in Berlin. The Robert Koch Institute (RKI) health agency reported on Wednesday that the Delta variant, first identified in India, already accounted for 37 percent of infections in Germany the week to June 20. The variant is expected to account for at least half of all new infections by this week, the experts said.


If the Delta variant becomes dominant in Germany, so-called coronavirus variant countries such as Britain and Portugal — from which most travel is currently banned — could be reclassified, Spahn said. Given the increasing spread of Delta and research showing that full vaccination protects well against it, “we will look at the situation in the next few days”, Spahn said. “If both of these things are confirmed, we will then be able to treat Portugal and the United Kingdom as high-incidence areas”, rather than variant countries, he said. Only citizens and residents of Germany are permitted to enter from a variant country and are subject to a two-week quarantine, regardless of whether they are fully vaccinated or can provide a negative Covid-19 test.

Read more …

“..it comes out to … closer to five grand a year if you take out the education. And that’s what they’ve got.”

Donald Trump Jr. Blasts Weisselberg Indictment As ‘Banana Republic Stuff’ (NYP)

Trump Organization Executive Vice President Donald Trump Jr. blasted the Manhattan DA’s office Thursday night for bringing tax fraud and other charges against the company’s longtime chief financial officer, calling the case “political persecution of a political enemy.” “This is what Vladimir Putin does,” the eldest son of former President Donald Trump told “Fox News Primetime,” later adding that “after … 3 million documents, countless witnesses and hours of grand jury testimony, outside forensic auditors, this is what they come up with: they’re going to charge a guy who’s 75 years old on crimes of avoiding paying taxes on a fringe benefit.” Allen Weisselberg pleaded not guilty in Manhattan Supreme Court to charges of tax fraud, conspiracy, grand larceny and falsifying business records.

Prosecutors say Weisselberg and the company concocted a 15-year scheme to compensate the CFO and other Trump Organization executives “off the books.” In Weisselberg’s case, prosecutors say, he received “indirect compensation” of more than $1.7 million, as well as free rent at a Manhattan apartment, luxury cars and private school tuition for his family members — without paying taxes on any of it. “The taxable portion of that [$1.7 million] to New York State is 8 percent,” Trump Jr. said. “That’s $136,000 over 16 years. That’s 10 grand [actually $8,500] a year. Half of that, because my father’s a good guy, he paid for this guy’s grandchildren’s education. Our tax experts say that’s not even taxable. You can pay for someone’s education that way. So you cut it down, it comes out to … closer to five grand a year if you take out the education. And that’s what they’ve got.”

The charges against Weisselberg are the first brought by Manhattan District Attorney Cyrus Vance, who has been investigating Trump’s business empire for two years along with New York Attorney General Letitia James. In a statement Thursday, James vowed that her office’s investigation would go on, “and we will follow the facts and the law wherever they may lead. “This is a farce. It’s a disgrace that they spent millions of dollars and years, instead of prosecuting actual murderous thugs on the streets of New York, they go after their political enemies,” raged Trump Jr., adding, “this is banana republic stuff, and if our press was even a little bit intellectually honest, they’d be calling it that … this is nonsense and it has to be called out as such.”

Read more …

Clintons.

Judge Rules To Unseal Dozens Of Ghislaine Maxwell Documents (DM)

A judge has ruled that dozens more documents about Ghislaine Maxwell’s personal affairs should be made public, including some that could reveal more about her finances and her relationship to the Clintons. Judge Loretta Preska said that unsealing the documents would not impact Maxwell’s right to a fair trial in November as her lawyers have claimed. Among the documents which will be made public in two weeks’ time will be Maxwell’s efforts to quash requests from Virginia Roberts Giuffre, who sued Maxwell for defamation, to obtain her financial records. Giuffre’s lawyers demanded a vast array of documents from Maxwell including ‘funding received from the Clinton Global Initiative and the Clinton Foundation,’ according to court filings.

The judge also ruled that documents relating to a request from Giuffre for email accounts that Maxwell allegedly kept secret from the court should also be made public. They could give an insight into powerful men who Maxwell knew, such and Prince Andrew of the British royal family. The documents are part of a tranche of material gradually being released by Judge Preska from the defamation case Giuffre filed against Maxwell in 2016 for calling her a liar. Giuffre claims Maxwell recruited her when she was 16 and took her to Jeffrey Epstein to be repeatedly raped and abused, including by Prince Andrew, which he denies.

The defamation case was settled in 2017 but after requests from the media organization the documents are gradually being unsealed. During a hearing at New York’s federal court, Judge Preska said she was not persuaded by Maxwell’s argument that ‘continued unsealing of these materials implicates her right to a fair trial in her pending criminal case’, which is due to start in November. Among the documents made public will be a motion for a protective order filed by Maxwell’s lawyers to limit the amount of information about her finances they had to hand over. Giuffre’s lawyers sought such information so they would be better informed if the case went to a settlement, which it did.

Read more …

“They can be left wing or right wing, religious or secular. They can be anybody who thinks anything.”

Inside Biden’s New “Domestic Terrorism” Strategy (OffG)

Following the (completely contrived) Capitol Hill “riot” on January 6th, Joe Biden made it clear – or rather, the people that control Joe Biden made it clear – “domestic terrorism” was going to be a defining issue of his presidency. Indeed, in an act of startling prescience, the incoming administration had been talking about a new “Domestic Terrorism Bill” for well over three months before the “riot” happened. The media had been calling for one for at least six. Major universities were writing papers about it. It’s funny how often that happens, isn’t it? I wrote at the time that the Capitol Hill “riot” could prove to be America’s Reichstag Fire – a fake attack, blamed on an invisible enemy and used to rush through restrictive legislation and emergency powers. A 9/11 sequel, extending the Patriot Act franchise.

Now, just a few short months later, the Biden White House has released their National Strategy for Countering Domestic Terrorism. Let’s take a look inside it, shall we? The first thing to say about the “strategy”…is that it’s not really a strategy. It’s more of a mission statement or even a press release. It hits talking points, but not real policies. Its watchword is “vague” – in both definition of the problem and proposed solutions (with a couple of noteworthy exceptions, but we’ll get to that.) For starters – who or what IS a “domestic terrorist”? Well, their answer to that is, essentially, potentially anybody. They’re not identifying any particular ideology or cause or group – but rather EVERY ideology cause or group. I wrote, back in January, that any definition would be kept intentionally loose, and the strategy does not disappoint.

The cause of “domestic terrorism” can be racism, religious intolerance, environmental protest, anti-government feeling, animal rights, anti-abortion campaigners, “perceived government overeach”, “incel ideology”, “anti-corporate globalization feeling” or a mixture of any of the above. “Domestic terrorists” may espouse violence or they may not espouse violence. They may work in groups, or be loners, or be loose associations with no organizational structure. They can be left wing or right wing, religious or secular. They can be anybody who thinks anything. There is a lot of entirely intentional vagueness here. Again and again, we are told that “the domestic terrorism threat is complex, multifaceted, and evolving”. They are keeping their options open.

Read more …

In NATO?!

US Adds Turkey to List of Countries Who Use Child Soldiers (GR)

The United States has put Turkey on a list of countries that are thought to have been using child soldiers since at least last year. The US State Department is compiling the list, known as 2021 Trafficking in Persons (TIP). Turkey is the first and only NATO ally to be added. The State Department found that Turkey was providing what they call “tangible support” to the Sultan Murad faction of Syrian opposition that frequently uses child soldiers. Turkey also has a military presence in Libya, which has used child soldiers as well. A senior State Department official addressed these findings in a statement made to the press:


“With respect to Turkey in particular…this is the first time a NATO member has been listed in the child soldier prevention act list,” the State Department official said. “As a respected regional leader and member of NATO, Turkey has the opportunity to address this issue, the recruitment and use of child soldiers in Syria and Libya.” Countries put on the State Department’s list could face regulations on security aid and the commercial licensing of military equipment, but the State Department has not said whether or not Turkey will be restricted. Turkey has fought in Syria and used Syrian armed forces three times. The United Nations has accused these forces of human rights violations, which Turkey has repeatedly denied.

Read more …

Interesting story.

The Self-Made Billionaire Who Is Sacrificing It All For God (Fed.)

In Hong Kong right now, Jimmy Lai is sacrificing all — his fortune and possibly his life — for his God, his fellow man, and for freedom. Lai is a billionaire, although he wasn’t always one. Born two years before the Communists defeated the nationalists in China’s civil war, his father fled and his mother was sent to a labor camp when he was a young child. Carrying bags for train passengers and getting by as a street vendor, he first tasted freedom when a man from British Hong Kong gave him a bar of chocolate. Lai is a British citizen, although he wasn’t always one. Having seen a glimpse of prosperity and freedom, he chased it to the then-free British island colony, stowing away aboard a ship when he was just 12 years old and working on the floor of a clothing factory.

Lai is a Catholic, although he wasn’t always one. He met the faith through his wife, a pious woman he accompanied to church, where he heard the homilies of Cardinal Joseph Zen and in 1997 was baptized into the church by the same great man. Today Lai is in a prison cell in Hong Kong, and the Communist dictatorship has once again seized one of his life’s works, shutting down his newspaper. But of all that has changed since he was a young boy, persecution by the communists has remained a constant. If you stand by your faith, in China there’s no way around it. “I have a soul,” he said in early 2019, and so the truth lives in him. “No one can say we didn’t fight… Prison life is the pinnacle of my life. I am completely at peace.”

Lai’s path to success in Hong Kong began on the floor of a garment factory. He rose quickly, eventually joining management. He saved his money, invested in the stock market, and used the profits to buy a factory and start making clothing for middle-class consumers. After the June 4, 1989 Tiananmen Square massacre, where peaceful pro-democracy protesters were trapped, shrouded in darkness, and run over and gunned down by tanks, Lai sacrificed his stake in his mainland business by printing and selling pro-democracy shirts and starting a tabloid magazine that covered scandal and corruption in the party. Undeterred by his loss, and still a very wealthy man, Lai channeled his time and fortune toward fighting their evil, enduring arrest, persecution, fire bombings, car attacks, and intimidation for it.

Last week he was arrested again, and his and his company’s finances seized under the auspices of China’s new “national security law.” Stories of his self-made riches and pro-democracy bravery dot corporate media, but unless you dig into the columns of those who’d met him, or read Christian news sources, you might miss what actually drives and fortifies him in the face of a vast and relentless enemy. You’d miss why a serial entrepreneur who has spent his life building and creating is willing to give it all, and you’d miss the truth behind why. “The Communists,” he told Economic Strategy Institute President Clyde Berkowitz, “think they can buy and or intimidate everyone off, create their own reality, and write their own history. Effectively, they assume the role of God. They are kind of a religion or an anti-religion.”

Read more …

“Yes, the camp is mostly brainwashing,” Mark Zuckerberg admitted, “but the food is pretty good.”

Facebook To Warn When Your Friends Begin Thinking For Themselves (BBee)

Facebook has introduced a new feature that will warn you when one of your friends is sharing free and independent thoughts on its network. Should you encounter an unapproved opinion, Facebook will provide a pop-up warning letting you know that if you’re concerned about a friend expressing opinions derived from free thought that is not in line with big tech companies, major corporations, Hollywood, universities, or the government, you can get them help. The social media platform will allow you to take steps to report people who are sharing unapproved opinions. You may report them to Facebook, who will reach out to them to help them by forcibly sending them to a Facebook reeducation camp.


“Yes, the camp is mostly brainwashing,” Mark Zuckerberg admitted, “but the food is pretty good. They serve mac and cheese with the little cut-up hot dogs in there every Tuesday. Plus, we’ve got one of those big inflatable launcher things out on the lake, which you can use to relax and launch each other into the water. It’s a ton of fun. If we kidnap you and take you to our camp, we guarantee you’ll love hanging out there on the lake.” “Once you finish your reeducation sessions, of course.”

Read more …

 

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Jun 072017
 


Olivier Drot Morning in Downtown Athens June 7 2017

 

Spring Rally in Stocks, Bonds, Gold and Bitcoin Unnerves Investors (WSJ)
Trump’s America Is Facing a $13 Trillion Consumer Debt Hangover (BBG)
Bars Open Early Tomorrow So People Can Drink While Watching Comey Testify (BI)
Other Times Unemployment Has Been This Low, It Didn’t End Well (WSJ)
UK’s May Says She’d Rip Up Human Rights Law to Beat Terrorists (BBG)
Corbyn: UK Foreign Policy Increases Terrorism Risk. Most Britons Agree (Ind.)
Australia’s Economy Marks Record 26 Years Without Recession (AFP)
Australians Curb Spending As Household Debt Balloons (R.)
Is There A Magic Money Tree? Yes Children, But That’s The Wrong Question (G.)
Santander Buys Struggling Spanish Banco Popular For €1 (BBG)
Don’t Count on China as Next Climate Crusader (WSJ)
Gimme Shelter (Jim Kunstler)
98% Of Greeks Downbeat About Their Current Economic Situation (K.)

 

 

The inevitable result of no price discovery for years on end. Do note that no price discovery also means there are no investors.

Spring Rally in Stocks, Bonds, Gold and Bitcoin Unnerves Investors (WSJ)

Stocks, bonds, gold and bitcoin—assets that rarely move in unison—have all been surging this spring, an everything rally that leaves investors confounded about how to play the plodding U.S. expansion and vulnerable to sharp reversals in fortune. Major U.S. stock indexes have soared to records this month, reflecting some investors’ confidence in the continued U.S. economic recovery along with expectations that large technology firms will accrue further market-share gains. At the same time prices of bonds, which often decline when stocks are rising, have risen lately, as U.S. inflation readings cooled off alongside a slowdown in some key industries. Gold has gained following terror attacks in the U.K., and turmoil in U.S. politics centering on the administration’s legislative prospects and a key congressional hearing this week featuring former FBI director James Comey.

The simultaneous gains have begun to concern some investors. Many point to a wave of money that is driving up asset prices, tied in part to lower bond yields and a lower dollar—a confluence of events they say feels good while it lasts but can’t go on forever. “We do think there are distortions” in the markets, said Iman Brivanlou, who oversees high-income equities at asset manager TCW. The Dow Industrials this month have posted two record closes, their first since March, and the 30-stock index remains just 0.33% below its all-time high despite a decline Tuesday of 47.81 points to 21136.23. The Nasdaq Composite Index has hit more than three dozen new highs this year, reflecting the surge of red-hot tech stocks such as Alphabet and Amazon.com , both of which this month have surpassed $1,000 a share. Bitcoin has tripled this year, hitting a record high Tuesday.

At the same time, U.S. bond yields on Tuesday sank to their 2017 low at 2.147% and the price of gold, long viewed as a barometer of market concern about potential risks ahead, settled at $1,294.40, its highest in seven months. A Goldman Sachs Group index of financial conditions that takes into account credit spreads, equity prices and other market gauges, this month suggested the easiest conditions since early 2015, before the Federal Reserve began lifting rates. Another measure of stress in U.S. money markets fell to near its lowest in seven years, while measures of expected stock-market swings have been at the lowest in a decade.

Read more …

A global issue.

Trump’s America Is Facing a $13 Trillion Consumer Debt Hangover (BBG)

After bingeing on credit for a half decade, U.S. consumers may finally be feeling the hangover. Americans faced with lackluster income growth have been financing more of their spending with debt instead. There are early signs that loan burdens are growing unsustainably large for borrowers with lower incomes. Household borrowings have surged to a record $12.73 trillion, and the%age of debt that is overdue has risen for two consecutive quarters. And with economic optimism having lifted borrowing rates since the election and the Federal Reserve expected to hike further, it’s getting more expensive for borrowers to refinance. Some companies are growing worried about their customers. Public Storage said in April that more of its self-storage customers now seem to be under stress.

Credit card lenders including Synchrony Financial and Capital One Financial are setting aside more money to cover bad loans. Consumer product makers including Nestle posted slower sales growth last quarter, particularly in the U.S. Companies may have reason to be concerned. Consumer spending notched its weakest gain in the first quarter since the end of 2009, a problem in an economy where consumers account for 70% of spending, though analysts expect the dip to be transitory. And debt delinquencies are rising even as the job market shows signs of strength. “There are pockets of consumers that are going to be sorely tested,” said Christopher Low, chief economist at FTN Financial. “We’ve conditioned American consumers to use debt to close the gap between their wages and their spending. When the Fed hikes, riskier borrowers are going to get pinched first.”

Since the 2008 financial crisis, the Fed has kept rates low to encourage companies and consumers to borrow more and spur economic growth. Much of the gains in household debt since 2012 have come from student loans, auto debt and credit cards. Over that time, wage growth has averaged around 2.2% a year, and the pace has been slowing for much of this year. Even if economists forecast that income growth will accelerate, those pickups have remained elusive. Donald Trump won the U.S. presidential election in part by convincing voters that he understood their economic pain. Keeping up with household debt payments is still broadly manageable for consumers. As of the end of last year, the ratio of principal and interest payments to disposable income for Americans was just shy of 10%, less than the average going back to 1980 of 11.33%.

And it’s too soon to say whether growing signs of pain among borrowers are just a return to more normal levels of delinquencies or evidence of a more serious credit downturn. Loan delinquencies are creeping higher after plunging from 2010 until the middle of 2016, but are still below historical averages.

Read more …

This can only disappoint. The echo chamber is overcrowded.

Bars Open Early Tomorrow So People Can Drink While Watching Comey Testify (BI)

If you want to have a drink while watching former FBI director James Comey testify before the Senate Intelligence Committee on Thursday, you’re in luck. Bars in Washington, DC, San Francisco, and Houston, Texas, are opening early on Thursday to screen Comey’s testimony, which is scheduled to begin at 10 a.m. EST. “Come on… you know you want to watch the drama unfold this Thursday,” Shaw’s Tavern, which will be serving $5 Stoli vodka and “FBI” sandwiches, wrote on Facebook. “Grab your friends, grab a drink and let’s COVFEFE!”

Read more …

Oh boy, you can’t win, can you?

Other Times Unemployment Has Been This Low, It Didn’t End Well (WSJ)

There have been only three fleeting periods in the past half-century when the U.S. unemployment rate was as low as it is today. This would be cause for celebration but for one disturbing fact: in hindsight, each period was associated with boiling excesses that led to serious economic trouble. Low unemployment of the late 1960s preceded an inflation spiral in the 1970s. The late 1990s bred the Dot-com bubble and bust. The mid-2000s saw the buildup and collapse of U.S. housing. While there is reason to believe today’s economy isn’t boiling over as in the past, those episodes call for caution. “It’s not a matter of superstition, it’s a matter of being mindful of the history of what such a low unemployment rate usually is followed by,” said Michael Feroli, chief U.S. economist of J.P. Morgan Chase.

While initially a welcome development, low unemployment in the 1960s laid the groundwork for a buildup of wage and price pressures, spurred on by low interest rates and aggressive government spending programs. The unemployment rate dropped to 4.3% in September 1965 and then below 4%. Today’s unemployment rate, also at 4.3%, could drop below 4% in the next year if it maintains its present trajectory. Unemployment returned again to 4.3% in January 1999. This time the inflation rate remained below 2% and it seemed that, unlike the late 1960s, the economy wasn’t overheating. But asset prices—the stock market in particular—soared after what had already been a long climb. The DJIA shot above 10000 for the first time in March 1998. Highflying tech companies commanded billion-dollar valuations with no profits to report. In hindsight, an internet bubble grew out of control.

Read more …

Hoping to get the nazi vote?

UK’s May Says She’d Rip Up Human Rights Law to Beat Terrorists (BBG)

Prime Minister Theresa May said she’d be willing to tear up human rights legislation in the battle against terrorists, as security continued to dominate the final days of the U.K. election campaign. Speaking to supporters at a campaign event in Slough, west of London, the premier said she wanted to make it easier for the authorities to deport foreign terror suspects and to limit the freedoms of individuals who pose a threat but who can’t be prosecuted in court. “If our human rights laws stop us from doing it, we will change the laws so we can do it,” May said. “If I am elected as prime minister on Thursday, that work begins on Friday.” May is facing criticism over her record overseeing U.K. homeland security in the wake of two terrorist attacks in two weeks ahead of Thursday’s national vote.

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Those arms sales will be under heavy pressure no matter who wins.

Corbyn: UK Foreign Policy Increases Terrorism Risk. Most Britons Agree (Ind.)

An overwhelming majority of people agree with Jeremy Corbyn that British involvement in foreign wars has put the public at greater risk of terrorism, according to a new poll. The exclusive ORB survey for The Independent found 75% of people believe interventions in Iraq, Afghanistan and Libya have made atrocities on UK soil more likely. The poll – conducted before Saturday night’s devastating attack – comes after Mr Corbyn was lambasted for suggesting foreign policy decisions were linked to terrorism in the UK and that the “war on terror” had failed. The deadly strike at London Bridge and Borough Market, the third attack in Britain in as many months, has seen security dominate the final days of the election campaign, with cabinet ministers squabbling over whether it could have been stopped.

Theresa May’s record as Home Secretary has been questioned and she has faced a call to resign over the matter from Mr Corbyn, not to mention a former aide to ex-Prime Minister David Cameron. In the wake of the Manchester attack, which killed 22 people last month, the Labour leader highlighted the potential role foreign military interventions play in increasing the likelihood of atrocities in the UK. Despite experts like Baroness Eliza Manningham-Bullerformer, a former MI5 chief, and Baroness Pauline Neville-Jones, ex-chair of the Joint Intelligence Committee, expressing similar views, he was accused by Conservatives of making excuses for terrorism.

But the ORB survey for The Independent found three-quarters of people – taking in all age groups, political persuasions and social classes – agreed Britain’s military involvement in Iraq, Afghanistan and Libya had increased the risk of terrorist acts. Within that, some 68% of Tory voters agreed foreign wars have enhanced the risks of terrorism at home. So did 80% of Labour supporters and 79% of people that voted for the Liberal Democrats in 2015.

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This is hilarious in combination with the next article.

Australia’s Economy Marks Record 26 Years Without Recession (AFP)

Australia marked a world-record 26 years without a recession Wednesday, as the economy grew 0.3% in the first-quarter, official data showed. The Australian Bureau of Statistics put the annual rate of growth at 1.7%, down from 2.4% in the previous three months. The soft quarterly reading was widely expected by analysts amid the impact of category four Cyclone Debbie on eastern Australia in late March, weaker trade figures and tepid wages growth. “The results today demonstrate the continued resilience of the Australian economy,” Treasurer Scott Morrison told reporters. The Australian dollar rallied by a quarter of a US cent to 75.27 cents just after the data was released, as some analysts had predicted a negative first-quarter reading.

Australia last recorded two negative quarters of economic growth in March and June 1991, before enjoying 103 quarters without a recession to equal the record set by the Netherlands. Economists said the resources-rich nation’s long stretch of expansion was supported by economic reforms in the 1980s and 1990s, such as the floating of the local currency, a flexible labour market, financial sector and capital markets deregulation and lower tariffs. Australia has also benefited from China’s economic growth and hunger for natural resources, which led to an unprecedented mining investment boom and record commodity prices. But economists have warned that economic growth in the next few years may not be as rosy. “In the context of the past few years, it is still a fairly weak outcome,” JP Morgan economist Tom Kennedy told AFP of the latest figures.

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A record run without a recession entirly paid for with leveraged private debt: “They are all on a budget. Everyone’s got all their money in houses, that’s how it is.”

Australians Curb Spending As Household Debt Balloons (R.)

Australia’s economy may have achieved a remarkable winning streak, avoiding a recession for 25 years, but there are now clear signs that the consumers who have driven much of the growth are running out of puff. With cash interest rates at a record low and house prices near record highs, the nation’s household debt-to-income ratio has climbed to an all-time peak of 189%, according to the Reserve Bank of Australia (RBA). That means there are an increasing number of people who have little cash for discretionary spending – on everything from cars to electrical appliances and new clothes – as their pay packets get consumed by large mortgages and high rental payments in the country’s red-hot property market.

And it’s not as if a sudden plunge in home prices would help – it might well expose and exacerbate the problem, at least in the short run, squeezing many who have bought into the frothy market with high mortgage repayments and little equity in their homes. “We are seeing a considerable spike in stress even in more affluent households. Large mortgages, big commitments but no income growth,” said Digital Finance Analytics (DFA) Principal Martin North. “Stressed households are less likely to spend at the shops, which acts as a drag anchor on future growth.” North estimates a record 52,000 households risk default in the next 12 months and that 23.4% of Australian families are under mortgage stress, meaning their income does not cover ongoing costs. That compares with about 19% a year ago.

“People are up to their ears in mortgages,” said Brad Smith, a car sales consultant at MotorPoint Sydney which has seen a stark slowdown in sales in the past six months. “They are all on a budget. Everyone’s got all their money in houses, that’s how it is.” Australians are also facing a cash crunch because price inflation in essential items such as food, electricity and insurance is accelerating at a 3.4% annual rate at a time when Australian wages are rising at their slowest pace on record, just 1.9% in the year to March. Meanwhile, growth in retail sales, personal loans and luxury car sales are all at multi-year lows, suggesting the household sector – nearly 60% of Australia’s A$1.7 trillion ($1.3 trillion) economy – is under severe strain.

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Steve Keen’s efforts are having an effect.

Is There A Magic Money Tree? Yes Children, But That’s The Wrong Question (G.)

Does anyone who has witnessed the pomp and circumstance of the Queen’s Jubilee, the funnelling of public money into Syrian airstrikes, or the systematic cutting of taxes for the rich really think we’re not paying nurses properly because we simply don’t have the money? Absolutely not: we don’t pay nurses properly because the government makes a choice not to. This fact calls to mind the words of the Texan minister Robert Fulghum: “It will be a great day when our schools have all the money they need, and our air force has to have a bake-sale to buy a bomber”. But the magic money tree is not a just daft expression in terms of how governments spend public money, it’s also misleading in terms of how the economy works as a whole.

Since 2008, we’ve been encouraged to see the economy like a household budget: if households spend too much money, they need to cut down on living costs so they don’t get into too much debt. To that end, the magic money tree says that if we spend too much money, we can’t just simply grow more. But actually, a country’s whole economy can grow more money if it needs to. Since 2009 the Bank of England has created £453bn of new electronic money to buy debt from the private sector using a mechanism called quantitative easing. Yes, you read that right: the Bank of England has created £453,000,000,000 of new money in the last eight years. Turns out the magic money tree is pretty big. Growing money is possible because an economy is nothing like a household budget. In a household, money comes in via people’s wages and goes out via living costs.

But in an economy, we all pay each other’s wages. Money doesn’t just travel in one direction in the economy, it circulates around. It’s the difference between one car driving in one end of a tunnel and out of the other, and lots of cars zigzagging around Spaghetti Junction. The issue isn’t whether we can grow money or not (we can – that’s just a fact), it’s where the money goes once it’s been grown. And the problem is that it doesn’t go to nurses, teachers or the public services they work for. It goes to institutions such as banks. The nurse in the BBC debate was highlighting a problem that exists across the whole economy: real wages haven’t increased for more than a decade, and this has meant more people have been relying on credit cards, with personal debt now higher than it was before the 2008 crash.

In other words, the fact that the nurse hasn’t had a pay rise is not just bad for her, it’s bad for all of us – because if that nurse is not earning enough, she won’t be spending money. And if she does spend money, she’ll do it by getting into unsustainable debt – which is itself outrageous considering the important, skilled work nurses do.

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Raise €7 billion to buy a bank for €1.

Santander Buys Struggling Spanish Banco Popular For €1 (BBG)

Banco Popular Espanol has been taken over by Santander after European regulators deemed that the bank was likely to fail. Popular will continue to operate under “normal business conditions” after all the bank’s shares and capital instruments were transferred to Santander, said the EU’s Single Resolution Board. The purchase price was €1, according to a statement. Santander plans to raise about €7bn (£6.1bn) of capital as part of the transaction. Popular had been looking for a buyer or a possible share sale after its balance sheet was battered by soured real estate loans that eroded its capital.

Its shares have dropped 53pc since the beginning of last week. In a statement, the ECB, which oversees the largest banks in the eurozone, said: “The significant deterioration of the liquidity situation of the bank in recent days led to a determination that the entity would have, in the near future, been unable to pay its debts or other liabilities as they fell due. “Consequently, the ECB determined that the bank was failing or likely to fail and duly informed the Single Resolution Board (SRB), which adopted a resolution scheme entailing the sale of Banco Popular Espanol to Banco Santander.”

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That Paris accord is a hoax.

Don’t Count on China as Next Climate Crusader (WSJ)

For years, a wide spectrum of groups in the U.S. lectured, cajoled and entreated China to go green. Multinationals and nonprofits teamed up with Chinese environmental groups to promote eco-friendly causes; Coca-Cola restored forests in the upper Yangtze. U.S. labs offered scientific support. Academics collaborated on research. The former Treasury secretary, Hank Paulson, championed China’s disappearing wetlands, a haven for migratory birds. The well-funded effort amplified voices within China demanding the government take action. It was, says Orville Schell, a longtime China watcher and environmentalist, “the most effective missionary work in the past couple hundred years.” So it’s an irony of historic proportions how the roles have reversed: China, the world’s worst polluter by far, is now a convert on climate change while the White House under Donald Trump has turned apostate.

In pulling out of the 2015 Paris climate-change agreement, Mr. Trump has repudiated a signal accomplishment of the Obama presidency: persuading Beijing to become a partner in the effort to prevent the planet from heating up to the point of no return. Without China’s support, the Paris deal might have fallen apart. Mr. Paulson issued a statement saying he was dismayed and disappointed. “We have left a void for others to fill,” he said. When it comes to the environment, China is still torn by conflicting priorities. It has installed more solar and wind capacity than any other nation—and plans to invest another $360 billion in renewable energy between now and 2020. The economy is rebalancing away from heavy industry and manufacturing toward much cleaner services and consumption.

Coal consumption has declined for three straight years. On current trends, many scientists expect that China will reach peak carbon emissions well before its target date of 2030 under the Paris accord. Yet Beijing remains committed to rapid growth. And coal is still king. Just ask the residents of Beijing. Whenever economic policy makers set out to boost growth, spending flows to new real-estate and infrastructure projects, the steel mills around the capital fire up their coal furnaces—and commuters reach for their face masks. This winter was particularly hard on the lungs. A spending splurge meant that Beijing’s average pollution levels last year were double the national standard set by the State Council.

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“How could they fail to come up with a video of the Donald and Vladimir swatting each other playfully with birch switches in a Moscow banya?”

Gimme Shelter (Jim Kunstler)

“Have you all lost your mind?” Vladimir Putin replied to one of Megyn Kelly’s thrusts about alleged Russian perfidy toward the US in the gala interview that debuted her new Sunday Night star-chamber on NBC. Old Vlad put his finger on something there. His view of the late goings-on in America is like that of the proverbial detached Martian observer of strange Earthly doings, rattling his antennae and clicking his mouth-parts in mirth. To which retort, by the way, one would have to answer, ”Yes, absolutely.” The toils of slow economic collapse, accompanied by the ceaseless effort by various arms of the Deep State to spin “the narrative” around the voting public’s collective head, has driven the polity insane. And this, of course, is on view in the bedlam that US politics has become, Trump and all.

I’m waiting for The New York Times to run the three-column headline that says Russia Racist, Misogynist, and Islamophobic to finally bring together the programmed paranoia of NeoCon / DemProg alliance with the esprit de corp of the new collegiate Red Guard. Mr. Putin does not have to lift a finger to detonate the groaning garbage barge of US domestic affairs. It’s already ignited and is faring toward a very peculiar species of civil war. You can be sure that the NeoCon/DemProg axis is determined to get rid of Trump at all costs. Impeachment requires some sort of high crime or misdeamenor. So far, going on a year, they haven’t come up with any evidence that the Golden Golem of Greatness acted as a Russian agent in some fashion, and that itself has got to be a little suspicious, considering the thousands of clerks in the spinning mills of those legendary seventeen Intel outfits the government runs.

How could they fail to come up with a video of the Donald and Vladimir swatting each other playfully with birch switches in a Moscow banya? Five TV sitcom writers could surely come up with an angle — as long as it was a plausible entertainment. In the meantime, Trump prevails, the mad bull elephant of the Republican herd, majestically swinging his trunk against everything breakable in the political china shop while trumpeting “Covfefe! Covfefe!” Last week it was the Paris Climate Accords. The op-ed writers in the usual places bounced off the walls of their virtual rubber room in response. Paul Krugman had to be dragged down to hydrotherapy at the NYT after he set his hair on fire. And Rachel Maddow practically popped a carotid artery in her muscular neck from all that shrieking.

I’m a bit more sanguine about the US withdrawal. To me, the Paris Accords were just another feel-good PR stunt enabling politicians to pretend that they could control forces that are already way out-of-hand, an international vanity project of ass-covering. The coming economic collapse will depress global industrial activity whether anybody likes it or not, and despite anyone’s pretense of good intentions — and then we will have a range of much more practical problems of everyday life to contend with.

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It’s getting time to rise up.

98% Of Greeks Downbeat About Their Current Economic Situation (K.)

Greeks are among the most pessimistic people in the world, according to the findings of a survey by the Pew Research Center which found that many Europeans as well as Japanese and Americans feel better about their national economies now than before the global financial crisis nearly a decade ago. Questioned about their national economy, only 2% of Greeks were upbeat, the lowest rate among the 32 countries polled. The Dutch, Germans, Swedes and Indians see their national economies in the most positive light, with more than 80% expressing optimism. The Pew survey also detected widespread concern about the future. A median of just 41% said they believed that a child in their country today would grow up to be better off financially than their parents. The most pessimistic about prospects for the next generation are the French (9%), the Japanese (19%) and the Greeks (21%).

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Jun 062017
 
 June 6, 2017  Posted by at 6:41 pm Finance Tagged with: , , , , , , , , , ,  5 Responses »


Joseph Mallord William Turner Wreckers, Coast of Northumberland 1834

 

Is it sheer hubris, or is it just incompetence? It’s a question often asked when it comes to politics. And regularly, the answer is both. Still, what the ruling British political class has put on display recently seems to exist in a category all its own. Less than a year go, then-PM David Cameron lost the Brexit referendum that he called himself and was dead sure he would win by a landslide.

His successor Theresa May, Cameron’s Home Secretary and a staunch Remain advocate, lost the Brexit vote as much as her PM did, but stayed on, was promoted, and acted for 11 months like Downing Street 10 was hers by Divine Decree. Then she did the exact same thing Cameron did: she looked at polling numbers and decided to go for the jugular: more power through a snap vote.

In the process, May has succeeded in accomplishing the remarkable feat of rejuvenating her main opponent Jeremy Corbyn and his Labour party, who had been left for infighting dead until she called the election, while at the same time dividing her own Tories so much they now resemble Labour from just weeks ago.

The thing that sort of irks is that the speed and intensity with which it all came down would have been way more impressive if she had meant to do it. Oh, and what also irks is that despite a performance worthy of the Comedy Capers, May may still win, since there was always little time, there’s so little time left till Thursday and there have been terror attacks.

A nice addition to the comedy sphere, and I mean no disrespect to any of the terror victims, they’ve gotten enough of that from May et al, is the story behind the PM’s refusal to appear in public debates with Corbyn and perhaps others. When I first saw a few weeks ago that she had announced that refusal, I immediately thought she did not make that decision. She doesn’t have the savvy for that kind of thing.

Someone did it for her. I presumed there had been American advisers added to her team, but I didn’t read anything about that. Until a few days ago, when I saw that political -presumed- heavyweights like Australian Lynton Crosby and American Jim Messina had joined around the time of the snap election announcement on April 18.

And now of course I can’t help thinking that these guys are responsible for the epic failure that May has been over the past six weeks. But that might be giving them too much honor, she’s quite capable of screwing up the way she has all on her own.

And yes, it’s hard to escape a comparison with Hillary here. It’s not about gender, it’s about competence. And if you manage to -almost or entirely- lose to the likes of Trump and Corbyn, despite having a huge lead in the polls, as both ladies had, you’re simply in the wrong place at the wrong time. Not that Corbyn has won yet, at least not in the election.

Guys like Crosby and Messina get paid the big bucks for their expertise in both clean and dirty tricks. They have plenty experience in both. They don’t have opinions, but they make up voters’ opinions for them. Messina was Obama’s 2012 re-election campaign leader, Crosby did elections in Australia, New Zealand, Canada. Funny thing is if you check their records, they have lost quite a few of these campaigns. Even funnier would be if they lose this one too.

 

But you’re right, it’s not right to be laughing. This past weekend saw another attack on Britain, and another -to put it mildly- far below par performance by Theresa May in its wake. If after this the Britons still hand her a win in Thursday’s general election, give up the country for lost. Stick a fork in it.

May was the one who as Home Secretary was responsible for an investigation into the foreign funding of extremist Islamist groups in the UK that was set to be released a year ago. Instead, we saw last week, she’s actively suppressing its release now that she’s PM, ostensibly because the report mentions Saudi Arabia as a source of such funding, and May recently used her position to help UK arms manufacturers sell billions worth of additional weapons to the Saudi’s.

She’s even on record as saying that arms sales to the House of Saud make Britain more safe, though the report apparently fingers that same House of Saud as funding the very terrorism her country was hit by, three times in a row now, during her stint as PM.

Where does terrorism originate? May won’t admit it’s Saudi Arabia, so she tried, in her first post-attack speech, to deflect the obvious by blaming ‘the internet’. But the internet doesn’t sell arms to countries that support terrorism. Theresa May does.

 

 

As people understandably call for more protection after three hits in a row, May has another thing to suppress: as Home Secretary she has been responsible for cutting some 22,000 jobs in the police force, 20,000 in the army, and 60,000 in the healthcare system. And if she would win on Thursday, more of all that is in the offing. At least, that was what was planned; she may make yet another U-turn on that one.

It’s really quite amusing to see a candidate trying to hide from the very elections she herself called, but -again-, given the short time-frame this hide-and-seek tactic might actually work. Moreover, if the British media and his own Labour MPs had not turned against Jeremy Corbyn the way they did until very recently, would May be anywhere near having a shot at victory? It looks unlikely.

There are already bets going that even if she wins the election, which if it happens is sure to be a very narrow win, she’ll be replaced as PM by Boris Johnson before July 1. But he’s as much of a clown as all other major Tory figureheads are today.

 

 

The problem of course is that the problems for Britain won’t stop on Thursday, no matter who wins. The problems haven’t even started blooming yet, let alone flowering.

If Corbyn might win, he’s have the entire Conservative entitlement class on his back, and that would turn ugly fast. If May wins, she’ll be ousted in no time, she did far too bad of a job. And then in just a few weeks’ time the Brexit negotiations begin. But with what? With a country that’s been divided to the bone, that’s what.

As things are, Corbyn may yet succeed where Bernie Sanders was rejected and suppressed by his own party. The world today needs people like them, not because it needs ‘socialism’ that much, but because the political landscape has been thrown too far out of balance. If the left gets co-opted by neo-liberalism as much as the right is, there is no left left.

And a sound political system needs representation for the people, the poor(er), as much as representation for the richer ruling classes. It’s not about ideology, but about balance. If you allow either one side or the other of the political equation to run rampant, you will inevitably end up with a dysfunctional society.

 

And that is what Britain is today. There are plenty slogans out there after yet another terror attack that say things like ‘Britain Stands United’, “London is United” , but it doesn’t and they are not. It’s not terrorism that has divided the country, it’s the political class. It’s not terrorism that has ‘crippled democracy’, it’s the sense of entitlement that many -on both sides of the aisle- have brought to Whitehall.

You would think that at least Jeremy Corbyn could do something about that if he wins. But he would then face an EU negotiating team that operates with a very similar sense of entitlement. And they’re going to come after the British people the same way they have in Greece. Not exactly an enviable position.

And that’s just Brussels. Then there are the terrorist attacks, and there’s little reason to think they will stop. What Britain refuses to recognize until now, and has for hundreds of years as I said before, is that these attacks in London and Manchester are not where it has all started. They don’t come out of the blue, and they don’t come from people who ‘hate us for our freedom’.

The first step is the UK et al spreading terror in Libya and Syria and Iraq, bombing away and selling weapons to ‘friendly’ regimes, creating utter chaos as a political power tool. If you don’t stop that you don’t stop terrorism. The only way to stop terror directed at you is to stop directing it at others.

Stop bombing these countires with impunity, and use the money you save with that to rebuild what you’ve destroyed. That will take away the main reason why there is terrorism in our streets. It will likely go a long way towards solving the refugee problems as well.

All this seems a long way away. It’ll recede further if the entitlement-laden establishment win on Thursday. But whichever way the vote goes, Britain will face a decade or more of deepening hardship, don’t underestimate that; there is no easy way out, not for the people.

Oh wait, I totally forgot to mention that the housing bubble is going to burst too. Oh, well, when it rains…

 

 

Jun 052017
 
 June 5, 2017  Posted by at 10:22 am Finance Tagged with: , , , , , , , , , ,  1 Response »


Banksy Girl with a balloon 2002/2017

 

Gulf Countries Cut Ties With Qatar, Oil Price Jumps (CNBC/R.)
Saudi Arabia, Egypt, UAE, & Bahrain Cut Ties, Shut Borders With Qatar (ZH)
Theresa May Urged Not To Suppress Report Into Funding Of Jihadi Groups (G.)
Top Cameron Aide: Theresa May ‘Responsible’ For London Terror Attack (BI)
Against Terror, Is London Pride Enough? (NYT)
Nearly 10 Million Britons Are In Insecure Work (G.)
Banksy Offers Free Art To People Who Vote Against The Tories (Ind.)
World Bank Economist: Risks To World Economy Receded (AFP)
Italy Faces Borrowing Shock When ECB Removes Support – Pimco (Tel.)
Joe Biden Boasts of US Role in ‘Saving’ Greece (K.)

 

 

It’s not about Qatar. US neocons are testing a new way to get to Iran.

Gulf Countries Cut Ties With Qatar, Oil Price Jumps (CNBC/R.)

The governments in Saudi Arabia, Egypt and the UAE are all wary of the Muslim Brotherhood because it enjoys support as an Islamist party among a broad base, Sluglett said. In the case of Iran, he added, a key factor is the Trump administration’s threat to review a landmark deal that lifted most economic sanctions against Iran in return for curbing its nuclear and missile programs. “The Americans cannot unilaterally back out of the deal as it is the P5+1 [permanent five members of the U.N. security council and Germany], so they are using the GCC and Egypt to put pressure on any countries supporting Iran,” Sluglett said, referring to the Gulf Cooperation Council, which counts Qatar, Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain and Oman as members.

Charles Lister, a senior fellow at the Middle East Institute, responded on Twitter to the news by pointing out that Qatar “is very heavily reliant on food supplies accessed” through Saudi Arabia, so a closing of the borders poses a “very” serious challenge to Doha. For its part, Saudi Arabia accused Qatar of backing militant groups and spreading their violent ideology, in an apparent reference to its influential state-owned satellite channel al Jazeera. “(Qatar) embraces multiple terrorist and sectarian groups aimed at disturbing stability in the region, including the Muslim Brotherhood, ISIS (Islamic State) and al-Qaeda, and promotes the message and schemes of these groups through their media constantly,” state news agency SPA said. The statement went on to accuse Qatar of supporting what it described as Iranian-backed militants in its restive and largely Shi’ite Muslim-populated Eastern region of Qatif and in Bahrain.

Qatar said in May that hackers had faked remarks by its emir, Sheikh Tamim bin Hamad al-Thani, criticizing some leaders of fellow Gulf Arab states and calling for an easing of tensions with Iran, a regional adversary. But several Gulf Cooperation Council states rejected Qatar’s explanation, leaving local media to unleash a barrage of attacks accusing the emir of cozying up to Tehran. Qatar shares the world’s largest gas field, South Pars, with Iran. The commercial and business ties have irritated Saudi Arabia and other Gulf Cooperation Council countries at odds with Iran over Tehran’s support for Shia-linked militants. Sluglett noted that Qatar’s dealings with Iran center on the gas field and that Doha is uncomfortable at times with a hard push against Tehran: “They find it quite ridiculous to blindly follow U.S. views on Iran.”

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Saudi Arabia pointing to Iran as terror source is rich…

Saudi Arabia, Egypt, UAE, & Bahrain Cut Ties, Shut Borders With Qatar (ZH)

Just days after president Trump left the region, a geopolitical earthquake is taking place in the Middle East tonight as the rift between Qatar and other members of the (likely extinct) Gulf Cooperation Council explodes with Bahrain, UAE, Saudi Arabia, and Egypt cutting all diplomatic ties with Qatar accusing it of “speading chaos,” by funding terrorism and supporting Iran. The dispute between Qatar and the Gulf’s Arab countries started over a purported hack of Qatar’s state-run news agency. It has spiraled since, and appears to be climaxing now… just days after President Trump left the region. As Al Arabiya reports, Bahrain has announced it is cutting diplomatic ties with Qatar, according to a statement carried on Bahrain News Agency.

The statement on Monday morning said Bahrain decided to sever ties with its neighbor “on the insistence of the State of Qatar to continue destabilizing the security and stability of the Kingdom of Bahrain and to intervene in its affairs”. The statement also said Qatar’s incitement of the media and supporting of terrorist activities and financing groups linked to Iran were reasons behind the decision. “(Qatar has) spread chaos in Bahrain in flagrant violation of all agreements and covenants and principles of international law Without regard to values, law or morals or consideration of the principles of good neighborliness or commitment to the constants of Gulf relations and the denial of all previous commitments,” the statement read. Qatari citizens have 14 days to leave Bahraini territories while Qatari diplomats were given 48 hours to leave the country after being expelled.

Meanwhile, Bahrain has also banned all of its citizens from visiting or residing in Qatar after the severance of ties. Additionally, Bahrain has has closed both air and sea borders with Qatar. Saudi Arabia then confirmed the same – cutting ties and shutting down all sea, airspace, and land crossings with Qatar as well as dissolving Qatar’s role in the Saudi-led coalition fighting against Yemen. Emirates, Etihad, Saudia, Gulf Air, and Egypt Air are no longer allowed to fly to Qatar and Saudi Arabia is providing facilities, services to Qatari pilgrims. Egypt then followed, confirming it was cutting diplomatic ties. Then UAE confirmed it would cut ties, shut down all sky, water, and land crossings, and expel all Qataris within 48 hours. The Maldives also just cut diplomatic ties with Qatar.

All of this happens within 24 hours of Iran calling out ‘The West’ for ignoring the real sponsors of terrorism around the world and UK’s Labor party leader outright name-shaming Saudi Arabia’s funding of terrorism. As a reminder, documents obtained by Middle East Eye show strategic alliance includes pledge by Ankara to protect Gulf state from external threats… “In December 2015, Turkey announced, to the surprise of many, that it planned to establish a military base in Qatar. Behind the scenes, the agreement was about forming a major strategic alliance. After a 100-year hiatus, Turkey is militarily back in the Gulf and ramping up its presence overseas. In January, Ankara announced that it would also establish a military base in Somalia. Specific details about the Qatar agreement, which Turkey described as an alliance in the face of “common enemies”, remain scant, but Middle East Eye has acquired copies of the agreements, as well as further details, which include a secret pledge by Ankara to protect Qatar from external threats.

Did Qatar just get scapegoated in the ‘war on terror’? One thing seems clear, support for a Syrian gas pipeline will be dwindling and with it the need for a Syrian war. Notably, this raises further doubts about OPEC’s stability. As Bloomberg notes, while Middle East ructions have historically added risk premia to oil prices, discord here could theoretically put downward pressure on prices as OPEC members struggle to maintain unity and compliance on production cuts.

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Too late now. It’s not like she’ll volunteer to publish the report before June 8.

Theresa May Urged Not To Suppress Report Into Funding Of Jihadi Groups (G.)

Jeremy Corbyn and Tim Farron have challenged Theresa May over a long-delayed inquiry into foreign funding and support of jihadi groups in the UK, after the Home Office suggested the investigation may not be published. The inquiry into revenue streams for extremist groups was commissioned by David Cameron when he was prime minister and is thought to focus on Saudi Arabia. But the Guardian revealed last week that the report was still incomplete and its contents may not be published. The Labour leader used a speech in Carlisle on Sunday evening to challenge the prime minister over the delayed report. Corbyn referenced May’s speech after the London Bridge attack on Saturday, in which she said challenging terrorism would “require some difficult and often embarrassing conversations”.

In a speech that also criticised May for ignoring warnings about the impact of police cuts, he said: “Yes, we do need to have some difficult conversations, starting with Saudi Arabia and other Gulf states that have funded and fuelled extremist ideology. “It is no good Theresa May suppressing a report into the foreign funding of extremist groups. We have to get serious about cutting off the funding to these terror networks, including Isis here and in the Middle East.” The Liberal Democrat foreign affairs spokesman, Tom Brake, wrote to May last week asking her to commit to not shelving the report. Writing in the Guardian on Monday, the Lib Dem leader, Tim Farron, said it was essential the report was not suppressed. “Theresa May now has a choice. Does she publish that report or keep it hidden?” Farron said.

“Theresa May talks of the need to have some difficult and sometimes embarrassing conversations. That should include exposing and rooting out the source funding of terror, even it means difficult and embarrassing conversations with those like Saudi Arabia that the government claims are our allies.” The Conservatives were criticised last year for selling billions of pounds of arms to the Saudis. Cameron ordered the investigation as part of a deal with the Lib Dems in exchange for the party supporting the extension of British airstrikes against Islamic State into Syria in December 2015. The Home Office’s extremism analysis unit was directed by Downing Street in January 2016 to investigate overseas funding of extremist groups in the UK, with findings to be shown to the then home secretary May and Cameron. Eighteen months on, the Home Office said the report, originally due to be published in spring 2016, had not yet been completed and publication was not guaranteed, given the sensitive nature of the content. .

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May the cannabalism begin.

Top Cameron Aide: Theresa May ‘Responsible’ For London Terror Attack (BI)

The Prime Minister should resign over her alleged failure to prevent the London Bridge terror attack, a former senior aide to the last Conservative Prime Minister David Cameron has said. Former Downing Street director of Strategy, Steve Hilton, on Monday claimed the Theresa May was “responsible” for the attack that left seven people dead and many more injured, and called for her to resign rather than seek re-election. “Theresa May responsible for security failures of London Bridge, Manchester, Westminster Bridge,” he tweeted. “Should be resigning not seeking re-election.” Hilton posted an excerpt from a Daily Mail report, suggesting that security services had been warned about at least one of the terrorists behind the attack on Saturday.

The Mail reported that one of the attackers had featured in a documentary about extremists and been reported to the security services by friends concerned that he had been radicalised. The paper also reported evidence that the suspect had been quizzed by police last year. Previous reports have indicated that the terrorists behind the Manchester and Westminster attacks earlier this year were also known to security services. May is also under pressure to release a suppressed report Home Office report into the international funding of terror groups in the UK. The report was commissioned by the last coalition government in 2015 and due to be published last year but has never been emerged. The Home Office admitted last week that it may never be published due to the “very sensitive” nature of the report.

The report is expected to reveal links between Saudi Arabia and extremist groups in the UK. Critics of the government believe it has been suppressed due to the UK government’s ongoing trade relationships with the country. The UK recently approved £3.5bn worth of arms export licences to Saudi Arabia, despite criticisms over its involvement in the bombing campaign in Yemen.

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Keep calm as a myth.

Against Terror, Is London Pride Enough? (NYT)

Cultures live by myths. These create their own reality. Britons may not know much history, but they all know about the spirit of the Blitz, and many lived through the bombing campaigns of the Irish Republican Army of the 1970s and ’80s. Many will remember that, in 1984, on the day Prime Minister Margaret Thatcher and half her cabinet team were blown out of their beds in the early morning by the Brighton bomb, in which five people died, she insisted that the Conservative Party conference should still start as scheduled at 9.30 a.m. Terrorism, she said, would never cripple democracy. The country is proud of that stoicism, and on the whole, wishes to live up to it. And yet. Today, there is a ripple of unease spreading through Britain, after the third brutal and unexpected attack in three months. It is the chilling realization that whatever the antiterror strategy has been so far, it clearly hasn’t worked.

However many plots are being foiled, now that anyone with the access to a car or van, a kitchen knife or the internet can choose to kill, some will succeed. This is a bleak and, frankly, unbearable prospect, and it’s concentrating minds. My 25-year-old son says that what terrifies him and his friends is their impotence. If this were indeed the Blitz, they could join up. If it was the ’70s they could either fight the I.R.A. or lobby for peace talks. But here, they have no idea how to combat this, whom to talk to, how to do anything other than wait for the next atrocity to happen, and then send sympathy and hashtags in the aftermath. Others, seeing that good will and candlelit vigils have their limits, are demanding radical action. On social media and phone-ins, and in private conversations, some people are calling for the immediate internment of the 3,000 suspected radicals on the terrorist watch lists, or their deportation, or for mass aerial bombing of the Islamic States abroad.

None of these will be solutions, but everyone is beginning to understand that savagery may become a regular occurrence, rather than an exceptional one — unless whoever is in government can offer a different and more successful approach. That is why Prime Minister Theresa May, only days away from a general election where she is fighting to keep her parliamentary majority, announced this morning that “enough is enough” in the war against terrorism, and that “things need to change.” There had been too much tolerance of extremism in Britain. The police and security services should have all the powers they needed. The internet giants, Facebook and Google, must be held responsible for radicalizing material that appeared on their sites.

Mrs. May knows just how vulnerable she is on these issues. She is already performing unexpectedly badly in the election campaign, appearing wooden and uneasy in comparison to her Labour challenger. Normally, she and the Tories could count on scoring high for law and order, but Mrs. May is in the uncomfortable position of denouncing counterterror policies for which she herself has been responsible over the past six years (in five years as home secretary and one as prime minister).

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The result of what is it, 10 year, Tories?! That’s one in every three jobs? Or is it four? Talk about a gutted society… And then Brexit surprised?

Nearly 10 Million Britons Are In Insecure Work (G.)

Up to 10 million Britons or nearly a third of the UK workforce do not have secure employment, according to the GMB union, which has warned of a heavy impact on health and family life. The union’s research, unveiled at its 100th annual congress in Plymouth on Monday, attempts to quantify people in what it calls precarious employment – those in the gig economy, on zero- or short-hours contracts, temporary workers, the underemployed and those at risk of false self-employment. The data, based on a survey of nearly 3,500 people of working age, emerged before the publication this month of recommendations from Matthew Taylor, a former adviser to Tony Blair who was appointed by the current prime minister to lead a review into the gig economy. He is expected to recommend changes to the rights of self-employed workers.

Tim Roache, the GMB’s general secretary, said: “This paints a shocking picture of the modern world of work. Up to 10 million people go to work either not knowing what their hours are, if they’ll be able to pay the bills, or what their long-term prospects are. That’s a sorry state of affairs in the 21st century and a product of government’s failure to tackle bogus self-employment, the use of agency contracts as a business model and point-blank refusal to ban zero-hours contracts.” Further interviews of those who identified themselves as insecure workers found that 61% had suffered stress or anxiety as a result of their current job and the same proportion said they had been to work while unwell for fear of not being paid, losing their job or missing out on future hours. The rapid change in employment practices was highlighted by more than three-quarters of those interviewed who said they had previously been in permanent employment.

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Not sure it’s entirely legal.

Banksy Offers Free Art To People Who Vote Against The Tories (Ind.)

Banksy has offered fans an exclusive free print if they vote against the Conservatives in the general election. The artist posted on his website asking voters in six Bristol-area constituencies to send him a photo of their ballot paper showing that they voted against the Tories to receive a limited-edition work. He wrote: “Simply send in a photo of your ballot paper from polling day showing you voted against the Conservative candidate and this complimentary gift will be mailed to you.” The artwork is taken from his iconic “girl with a balloon” motif but now features a Union Jack flag in the balloon. Banksy said that it will be released on 9 June. However, critics have pointed out that this would contravene laws designed to ensure votes remain secret, and could also break rules against bribery.

In a “lawyer’s note” disclaimer, Banksy’s post added: “This print is a souvenir piece of campaign material, it is in no way meant to influence the choices of the electorate, has no monetary value, is for amusement purposes only and is strictly not for resale. “Terms and conditions to follow, postage not included.” Under Section 66 of the Representation of the People’s Act, it is a criminal offence to “induce a voter to display his ballot paper after he has marked it so as to make known to any person the name of the candidate for whom he has or has not voted”. It is also illegal to show the paper’s unique identification number. An Electoral Commission spokesman told the BBC: “Given the risk that someone taking a photo inside a polling station may be in breach of the law, whether intentionally or not, the commission’s advice is against taking any photos inside polling stations.”

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At the World Bank they get to smoke the good stuff.

World Bank Economist: Risks To World Economy Receded (AFP)

The World Bank is keeping its forecast for global growth in 2017 unchanged, because for the first time in years, no new risks have arisen to threaten the outlook. “Over the past four years this is the first time we didn’t have a downgrade and I think that’s very good sign. Growth is firming,” World Bank economist Ayhan Kose told AFP. The World Bank expects the global economy to grow by 2.7% this year, and 2.9% in 2018 and 2019, the same as the January forecast. And after 10 years of crisis and tepid recovery, keeping a stable growth forecast is news. Kose, who heads the World Bank’s Development Prospects Group, which twice a year prepares the global economic forecasts, attributes the good news to the fact the risks, while still present, have receded.

The issues that had the potential to derail the incipient recovery included stress in financial markets as they adapt to rising US interest rates, uncertainty over the stability of oil prices, and concerns about election outcomes in Europe. But after the Federal Reserve’s two rate increases in recent months, markets have reacted “very well,” European political uncertainty “has receded quite a bit” – French voters rejected the anti-EU candidate – and oil prices while still low, have stabilized after OPEC and non-OPEC oil producers extended the agreement to limit output. “All in all, we still think that risks are tilted to the downside but the risk profile is a little bit more improved today versus six months ago,” Kose said.

However, uncertainty over policies, especially US trade protectionism and immigration restrictions under the Trump administration, is having immediate, real impacts on conditions that could dampen growth, Kose cautioned. Companies may delay business decisions and postpone investments in the absence of “well-defined policies,” for example in a case where companies have cross-border operations impacted by the North American Free Trade Agreement which President Donald Trump has opened to renegotiation. Kose noted the “serious slowdown” in investment in emerging markets and developing economy already seen over the past six years. “We are of course worried about how policy uncertainty impacts investment growth and then ultimately impacts growth in the real economy,” he said.

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They won’t let Italy fall unless Beppe Grillo wins the next elections. Which by the way is quite possible.

Italy Faces Borrowing Shock When ECB Removes Support – Pimco (Tel.)

Italy faces a “horror” scenario when the ECB winds down its bond buying programme in a move that risks sparking a surge in the country’s borrowing costs, according to one of the world’s largest bond managers. The Pacific Investment Management Company (Pimco) said the ECB’s €60bn-a-month QE programme was “very supportive” for countries such as Italy and Portugal and had helped to limit volatility in these countries. Andrew Balls, chief investment officer for global fixed income, said removing that support was likely to push up bond yields in a country that has struggled to implement reforms and reduce its massive debt pile amid weak growth. Italian 10-year benchmark borrowing costs currently stand at around 2.2pc, compared with 0.2pc in Germany and close to 3pc in Portugal.

Mr Balls said funding Italy at these rates “doesn’t look particularly attractive” considering the risks facing the eurozone’s third largest economy. He said removal of ECB support raised the risk that Italy could be forced into a bail-out programme if its borrowing costs rose to unsustainable levels, even though the country has long lived within its means excluding debt interest costs. “The thing which fills me with horror is an environment where the ECB has finished QE, Italy does need support, and the message is you need to go to the European Stability Mechanism [the eurozone’s bail-out fund],” said Mr Balls. “Replaying the events of a few years ago with Portugal, Greece and others in the case of Italy would be an event that would raise an awful lot of risk – and you’d want to get paid a lot more than a 2pc return over 10 years to take that risk.”

While Pimco believes an Italian exit from the eurozone is “not our baseline”, Mr Balls added: “It doesn’t seem terribly unlikely either”. “Italy can’t grow,” he said. “You have limited political will to implement reform …In contrast to Portugal it’s big and systemic, but its not clear how Italy improves the situation. “In the event of a recession or shock it’s not clear how the policy apparatus deals with something as large as Italy.”

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In a piece on Cyprus, and Biden’s visit to Athens this week. Biden only cares about the impact of the Greek crisis abroad, not inside the country.

Joe Biden Boasts of US Role in ‘Saving’ Greece (K.)

President Obama and I were engaged with all parties in the Greek financial crisis, because we wanted to prevent Greece from experiencing financial collapse. Grexit would have had very serious long-term consequences for Greece and Europe – and could potentially have triggered a wider crisis of confidence in the global economy. We were concerned that in the high-stakes negotiation between Greece and its creditors, failure to reach a sensible agreement would have made all parties much worse off in the end. But because of each side’s desire to secure the best possible terms, this worst-case scenario was a real possibility.

While the ultimate decision was up to the leaders of Greece, the IMF, and the eurozone countries, I think we helped steer the conversation in a more pragmatic direction because of the credibility we had in Athens, Brussels and Berlin. We argued with the creditor countries that Greece had been saddled with an unsustainably high debt burden and that reform would only go so far with such a large debt overhang. At the same time, we encouraged the Greek leadership to think about how to demonstrate to its creditors that it had a credible roadmap for systemic economic reform, which was necessary. While a deal was reached and the worst of the crisis is behind us, we are not yet completely out of the woods. I believe the United States continues to have a role to play in supporting the parties as they move forward with discussions on Greece’s economic future.

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Mar 042017
 
 March 4, 2017  Posted by at 9:42 am Finance Tagged with: , , , , , , , , , ,  4 Responses »


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

 

Yellen Points To March Rate Hike As Fed Signals End Of Easy Money (R.)
The Fed Is Embarking On A Path That Usually Ends With A Recession (Udland)
A Selloff Is Looming As Fear Stalks The Stock Market Rally (MW)
Medicine In The USA Is A Hostage Racket (Jim Kunstler)
Chevron Warns Future Oil Drilling May Be ‘Economically Infeasible’ (Ind.)
Germany-Turkey War Of Words Escalates (BBC)
UK Could Quit EU Without Paying A Penny (G.)
Greece Should Be Added to ECB’s QE Bond-Buying List (BBG)
To Solve Refugee Crisis, Stop Funding Terrorism – Tulsi Gabbard (TAM)
Austria To Stop Giving Food, Shelter To Rejected Asylum Seekers (ZH)
US Considers Separating Women And Children Who Enter Country Illegally (G.)
Parents Fearing Deportation Pick Guardians For US Children (R.)

 

 

‘The end of easy money’ will only come through collapse.

Yellen Points To March Rate Hike As Fed Signals End Of Easy Money (R.)

The U.S. Federal Reserve’s long-stalled ‘liftoff’ of interest rates may finally get airborne this year as policymakers from Chair Janet Yellen on Friday to regional leaders across the United States signaled that the era of easy money is drawing to a close. Yellen capped off a seemingly coordinated push from the central bank on Friday when she cemented the view that the Fed will raise interest rates at its next meeting on March 14-15, and likely be able to move faster after that than it has in years. It’s a welcome turn for the Fed chair, who has hoped to get rates off the ground throughout her three-year tenure, and now sees the economy on track and investors aligned around the idea.

“At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” Yellen said at a business luncheon in Chicago. “The process of scaling back accommodation likely will not be as slow as it was in 2015 and 2016,” she added. Stocks were up slightly, and futures tied to rate-hike expectations moved little on Yellen’s remarks. The comments from Fed speakers this week had already pushed market pricing of a March hike to 80%. The Fed has struggled for the past three years to raise interest rates off the zero lower bound as the U.S. economy slowly healed after the Great Recession. Issues from sluggish inflation globally to the dampening effect of a strong dollar and low energy prices blew them off course. By contrast, 2017 may be the year the Fed is able to follow through on its forecast of three rate hikes.

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Central bank manipulation is a craziness that can end in one way only.

The Fed Is Embarking On A Path That Usually Ends With A Recession (Udland)

Stocks are at record highs. And while the Trump administration’s early days have been filled with internal political chaos, the market’s reaction has continued to remain positive. On Wednesday, when U.S. stocks had their best day of the year, the popular SPY ETF, which tracks the S&P 500, saw $8.2 billion in new inflows, its single-best day since December 2014. But something else happened on Wednesday that should have equity bulls quite a bit more concerned: markets got behind the idea the Federal Reserve will raise interest rates in March and, perhaps, be more aggressive about raising rates in than previously expected.On Friday, Fed Chair Janet Yellen signaled that a March rate hike is on the table and said the pace of the Fed raising rates in 2017 would likely exceed that seen in 2015 and 2016.

And while an accomodative Fed has been seen as a backstop for markets during the post-crisis bull run higher, a tighter Fed is bad news for stocks because when rates begin to rise, the end of the bull market has already been signaled. As we highlighted in our daily market outlook post, David Rosenberg at Gluskin Sheff wrote Thursday that, “Monetary policy is profoundly more important to the markets and the economy than is the case with fiscal policy, though all the Fed is doing now is removing accommodation.” Rosenberg added that, “there have been 13 Fed rate hike cycles in the post-WWII era, and 10 landed the economy in recession. Soft landing are rare and when they have occurred, they have come in the third year of the expansion, not the eighth.”


The gray bars mark recessions. Ahead of recessions, rates usually rise. Right now, rates are set to rise.

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Fear vs greed.

A Selloff Is Looming As Fear Stalks The Stock Market Rally (MW)

Wall Street’s so-called fear index has started to move in lockstep with stock prices and that has one money manager warning of an impending selloff even as market sentiment remains fairly stable. Jesse Felder, founder of the Felder Report and an alumni of Bear Stearns, on Friday shared a chart that showed an increasingly positive correlation between the S&P 500 and the CBOE Market Volatility Index. “Normally stocks and the VIX move in opposite directions…and it makes sense that rising stock prices mean less fear and vice versa,” said Felder. However, that reverse relationship has started to change in recent days as expectations of a market correction mount.

The VIX is a measure of the market’s expectation for volatility over the next 30 days and is calculated from the implied volatilities of S&P 500 index options. A low reading indicates a placid market while a higher number suggests elevated uncertainty. “The options market is pricing in greater volatility ahead even though stocks don’t yet reflect this same dynamic,” Felder told MarketWatch. “Over the past few years this signal has preceded anywhere from a 2% to a 10% correction.”

That this trend comes on top of the 10-year Treasury yield’s nearly 40% surge over the past year as the Federal Reserve prepares to tighten monetary policy suggest risky assets such as equities will face significant selling pressure. Analysts are projecting the Fed to raise interest rates three times this year, a view reinforced by comments from Fed Chairwoman Janet Yellen on Friday that a rate hike at the next Federal Open Market Committee in mid-March is likely. “The Fed looks like it will take its third step toward tightening here soon so it might pay to remember the old Wall Street adage ‘three steps and a stumble.’ For these reasons, I think the chance of a major reversal is higher than it has been in the past,” he said.

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“Some things are too big to fail; some are too broken to fix.”

Medicine In The USA Is A Hostage Racket (Jim Kunstler)

The ObamaCare quandary. A fiasco for sure. Under it, not uncommonly, a family pays $12,000-a-year for a policy that carries a $5,000 deductible. That’s an interesting number in a land were most people don’t even have enough ready cash for routine car repairs. The cruel and idiotic injustice of such a set-up could only happen in a society that has normalized pervasive lying, universal accounting fraud, and corporate racketeering. I personally doubt the existing health care system can be reformed. Anyway, we’re starting in the wrong place with it. The part that nobody talks about is the psychopathic pricing system that drives medicine. The average cost for a normal (non-surgical) hospital childbirth in America these days is $10,000. WTF? An appendectomy: between $9,000 and $20,000 depending on where. WTF?

These days, a hip replacement runs about $38,000. Of course, you will never find out what a treatment or procedure costs before-the-fact. They simply won’t tell you. They’ll say something utterly ridiculous like, “we just don’t know.” You’ll find out when the bills roll in. Last time I had a hip replacement, I received a single line-item hospital charge report from the insurance company that said: “Room and board, 36 hours… $23,000.” Say what? This was apart from the surgeon’s bill and the cost of the metal implant, just for occupying a bed for a day and a half pending discharge. They didn’t do a damn thing besides take my blood pressure and temperature a dozen times, and give me a few hydrocodone pills.

The ugly truth, readers, is that medicine in the USA is a hostage racket. They have you in a tight spot at a weak moment and they extract maximum payment to allow you to get on with your life, with no meaningful correlation to services rendered — just whatever they could get. Until these racketeers are compelled under law to post their prices openly and transparently, no amount of tweaking the role of insurers or government policy will make any difference. Note, too, that there is a direct connection between the outrageous salaries of hospital executives and their non-transparent, dishonest, and extortionist pricing machinations. The pharma industry is, of course, a subsidiary racket and needs to be subject to the kind of treatment the Department of Justice used to dispense to the likes of the Teamsters Union.

The healthcare system probably will not be reformed, but rather will collapse, and when it does, it will reorganize itself in a way that barely resembles current practice. For one thing, citizens will have to gain control over their own disastrous behavior, especially their eating, or else suffer the consequences, namely an early death. Second, the hospital system must be decentralized so that localities are once again served by small hospitals and clinics. The current system represents a mergers-and-acquisitions orgy that went berserk the past quarter century. The resulting administrative over-burden at every medical practice in the land is a perfectly designed fraud machine for enabling rackets. Preliminary verdict: congress will get nowhere in 2017 trying to fix this mess. Some things are too big to fail; some are too broken to fix. The coming debacle in finance, markets, and currencies will speed its demise.

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Because of climate legislation.

Chevron Warns Future Oil Drilling May Be ‘Economically Infeasible’ (Ind.)

In an industry first, one of the world’s biggest oil companies has warned it could face legal action over climate change. Chevron, the California-based multinational, admitted it could be the subject of “governmental investigations and, potentially, private litigation” because of its role in causing global warming. And the firm added that regulations designed to reduce greenhouse gas emissions might also render the “extraction of the company’s oil and gas resources economically infeasible”. Environmentalists suggested the decision to admit the threat to the company could be a reaction to legal case brought last year against Exxon Mobil by the Boston-based Conservation Law Foundation, which alleges the fossil fuel company tried to discredit climate science despite knowing the risks in order to make money.

Chevron was one of a number of oil firms targeted in a campaign by the Union of Concerned Scientists in the US to “stop funding climate disinformation”. And, in an official filing about the state of its financial health to the US Securities and Exchange Commission (SEC), the company lays out possible reasons why it might have been in its interest to cast doubt on scientific evidence that its products are causing a problem. Laws requiring the reduction of emissions – like legislation that could be in the UK Government’s long-delayed Emissions Reduction Plan – “may result in increased and substantial … costs and could, among other things, reduce demand for hydrocarbons”, Chevron said in a section called “risk factors”.

“In the years ahead, companies in the energy industry, like Chevron, may be challenged by an increase in international and domestic regulation relating to greenhouse gas emissions,” it said. “Such regulation could have the impact of curtailing profitability in the oil and gas sector or rendering the extraction of the company’s oil and gas resources economically infeasible.”

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Makes me fear for Greece.

Germany-Turkey War Of Words Escalates (BBC)

A row between Ankara and Berlin over a series of cancelled Turkish political rallies in Germany is continuing to escalate. On Friday, Turkish President Recep Tayyip Erdogan accused Berlin of “aiding and harbouring” terror. He said a German-Turkish journalist detained by Turkey was a “German agent” and a member of the outlawed Kurdish militant group, the PKK. A source in Germany’s foreign ministry told Reuters the claims were “absurd”. Earlier German Chancellor Angela Merkel said she respected local authorities’ decisions to cancel rallies that Turkey’s justice and economy ministers had been scheduled to address. Turkey is trying to woo ethnic Turkish voters ahead of a key referendum. About 1.4 million Turks living in Germany are eligible to vote in the April referendum, in which President Erdogan aims to win backing for sweeping new powers.

The constitutional changes would boost Mr Erdogan’s presidency and significantly weaken parliament’s role. Turkish officials have been angered after local German officials withdrew permission for rallies in Gaggenau, Cologne and Frechen. Gaggenau authorities had said there was insufficient space for the rally, while Cologne officials said they had been misled about the purpose of the event. Turkish Justice Minister Bekir Bozdag, who had been due to speak in Gaggenau, said he saw “old illnesses flaring up” between the two Nato allies. Meanwhile, Turkish Foreign Minister Mevlut Cavusoglu accused the German government of backing opposition to Mr Erdogan’s planned constitutional changes. He said: “You are not Turkey’s boss. You are not a first class [country] and Turkey is not second class. We are not treating you like that, and you have to treat Turkey properly. “If you want to maintain your relations with us, you have to learn how to behave.”

Germany’s foreign ministry said the central government had nothing to do with the cancellations, and Ankara should refrain from “pouring oil on the fire”. The growing row is troubling for Chancellor Merkel because she persuaded Turkey to help block the surge of migrants – many of them Syrian refugees – into the EU. Separately, the Dutch government on Friday described plans for a Turkish referendum campaign rally in Rotterdam as “undesirable”. Turkish Foreign Minister Mevlut Cavusoglu was reportedly meant to attend the rally scheduled for 11 March. Ties between Berlin and Istanbul are also strained over Turkey’s arrest of Deniz Yucel, a journalist who works for Die Welt. Mr Yucel “hid in the German embassy as a member of the PKK and a German agent for one month”, Mr Erdogan said. “When we told them to hand him over to be tried, they refused.” German’s foreign ministry called the spy claims “absurd”. Ms Merkel, referring to the case earlier, told reporters in Tunis: “We support freedom of expression and we can criticise Turkey.”

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The EU’s position in the talks will weaken as the union crumbles.

UK Could Quit EU Without Paying A Penny (G.)

The UK could walk away from the European Union in 2019 without paying a penny, the House of Lords has said, in a report bound to raise tensions with Brussels in the run-up to Brexit talks. The British government would have no legal obligation to either pay a €60bn Brexit bill mooted by the European commission or honour payments into the EU budget promised by the former prime minister David Cameron, according to analysis by the House of Lords EU financial affairs sub-committee. In a report published on Saturday, the committee argues that the British government would be on strong legal ground if it chose to leave the EU without paying anything, adding that Brussels would have no realistic chance of getting any money.

The peers stress, however, that if the government wants goodwill from EU countries and a deal on access to European markets, agreement on the budget will be important. “The UK appears to have a strong legal position in respect of the EU budget post-Brexit and this provides important context to the article 50 negotiations,” said Lady Falkner of Margravine, the Liberal Democrat peer who chairs the sub-committee. “Even though we consider that the UK will not be legally obliged to pay into the EU budget after Brexit, the issue will be a prominent factor in withdrawal negotiations. The government will have to set the financial and political costs of making such payments against potential gains from other elements of the negotiations.”

[..] The peers’ argument will be toxic to the EU’s chief Brexit negotiator, Michel Barnier, whose staff drew up the mooted bill ranging from €55bn-€60bn. This covers the UK’s share of EU civil staff pensions, unpaid bills and decommissioning nuclear power plants. Barnier is expecting the UK to pay into the EU budget in 2019 and 2020, putting the UK on the hook for payments worth £12.4bn, agreed by Cameron in 2013. The EU’s €1tn, seven-year budget was negotiated in late 2013 by EU leaders including the British prime minister. It is due to expire at the end of 2020, although bills may be trickling in until 2023. This reflects that payments for EU-funded infrastructure projects, such as roads or airports, are not settled until two to three years after being promised.

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There is no reason for the ECB not to include Greece. Never was. It’s pure economic strangulation.

Greece Should Be Added to ECB’s QE Bond-Buying List (BBG)

Greece and its creditors look poised to strike a deal that will allow the nation to draw down aid and avoid defaulting on its debts in July. That sounds good, but it is, in fact, just a fudge. What’s needed instead is for the country to regain access to capital markets in its own right. To help make that happen, the European Central Bank should add Greek bonds to the list of securities eligible for purchase under its quantitative easing program.

The deal Greece is about to agree with its European partners and the IMF is the latest in a long line of compromises that have failed to address the core issue – that Greece’s debts, now 170% of economic output, are so burdensome they are preventing a recovery. The IMF is right to argue that Greece needs additional debt relief on the €174 billion it owes to the European Financial Stability Facility and the European Stability Mechanism. With elections looming this year in the Netherlands, France and Germany, however, details about that relief will probably have to wait until next year; voters don’t want to hear about Greek bailouts right now. But the ECB can act swiftly to include Greek bonds in its asset purchase program.

German Chancellor Angela Merkel has told ECB President Mario Draghi that she’s willing to let inclusion in his QE program be used as an incentive to persuade Greece to agree to the new deal, the Greek news service Kathimerini reported on Wednesday, without identifying the source of its information. Draghi has made a new agreement between Greece and its lenders a condition of adding Greek debt to the 60 billion euros of bonds the central bank will buy from April, as it scales back the monthly program from 80 billion euros. Greek Prime Minister Alexis Tsipras told lawmakers last week that he’s hopeful the latest bailout review can be completed by March 20, when euro-region finance ministers are scheduled to meet in Brussels.

While Greek yields have declined in recent weeks, they remain too high for the country to attempt to tap the markets. Greece’s two-year borrowing cost of about 7%, for example, compares with just 2% for Italy and 1.7% for Spain, both of which have benefited from the support of ECB purchases:

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“..never once laying blame to the U.S. military establishment for spending over $1 billion a year arming Syrian rebels.”

To Solve Refugee Crisis, Stop Funding Terrorism – Tulsi Gabbard (TAM)

Democratic Congresswoman Tulsi Gabbard, the politician who previously accused the U.S. of arming ISIS, is still calling on the U.S. government to stop its disastrous regime change policies in the Middle East. According to a press release made public on Tuesday, Gabbard has again called for the U.S. to stop aiding terrorists like al-Qaeda and ISIS. Gabbard’s guest at the presidential address to Congress, a Kurdish refugee activist, also called for an end to the U.S. policy of “regime change in Syria.” Gabbard said:

“In the face of unimaginable heartbreak, Tima has been a voice for the voiceless, a champion for refugees worldwide, and a strong advocate for ending the regime change war in Syria. I am honored to welcome her to Washington tonight as we raise our voices to call on our nation’s leaders to end the counterproductive regime change war in Syria that has caused great human suffering, refugees, loss of life, and devastation. We urge leaders in Congress to pass the Stop Arming Terrorists Act and end our destructive policy of using American taxpayer dollars to provide direct and indirect support to armed militants allied with terrorist groups like al-Qaeda and ISIS in Syria, who are fighting to overthrow the Syrian government.”

Gabbard also reportedly told Russian state-owned news station RT: “For years, our government has been providing both direct and indirect support to these armed militant groups, who are working directly with or under the command of terrorist groups like Al-Qaeda and ISIS, all in their effort and fight to overthrow the Syrian government.” The activist, Tima Kurdi, is more widely known as the aunt of a three-year-old boy who drowned on the shores of Turkey in September 2015. The image went viral on social media and was easily manipulated by the mainstream media to further the United States’ agenda in the region, never once laying blame to the U.S. military establishment for spending over $1 billion a year arming Syrian rebels.

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Welcome to Europe. It’s the same as America.

Austria To Stop Giving Food, Shelter To Rejected Asylum Seekers (ZH)

In a bill aimed at encouraging asylum seekers to leave voluntarily, Austrian lawmakers are considering halting the provision of food and accommodation to migrants who are denied asylum and refuse to leave the country. Austria took in roughly 90,000 asylum seekers in 2015, more than 1 percent of its population, as it was swept up in Europe’s migration crisis when hundreds of thousands of people crossed its borders, most on their way to Germany. As Reuters notes, it has since tightened immigration restrictions and helped shut down the route through the Balkans by which almost all those people – many of them fleeing war and poverty in the Middle East and elsewhere – arrived. Asylum applications fell by more than half last year.

Asylum seekers in Austria get so-called basic services, including free accommodation, food, access to medical treatment and €40 pocket money a month. But now, Austria’s centrist coalition government on Tuesday agreed on a draft law which would allow authorities to stop providing accommodation and food to rejected asylum seekers who refuse to leave the country. “The first thing is basically that they don’t get anything from the Austrian state if they don’t have the right to stay here. Is that so hard to understand?” As Politico reports, Interior Minister Wolfgang Sobotka said the law, which will need approval by parliament, was designed to encourage rejected asylum seekers to leave voluntarily.

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This is getting too absurd.

US Considers Separating Women And Children Who Enter Country Illegally (G.)

Women and children crossing together illegally into the United States could be separated by US authorities under a proposal being considered by the Department of Homeland Security, according to three government officials. Part of the reason for the proposal is to deter mothers from migrating to the United States with their children, said the officials, who have been briefed on the proposal. The policy shift would allow the government to keep parents in custody while they contest deportation or wait for asylum hearings. Children would be put into protective custody with the Department of Health and Human Services, in the “least restrictive setting” until they can be taken into the care of a US relative or state-sponsored guardian.

Currently, families contesting deportation or applying for asylum are generally released from detention quickly and allowed to remain in the United States until their cases are resolved. A federal appeals court ruling bars prolonged child detention. Donald Trump has called for ending so-called “catch and release”, in which people who cross illegally are freed to live in the United States while awaiting legal proceedings. Two of the officials were briefed on the proposal at a 2 February town hall for asylum officers by US Citizenship and Immigration Services asylum chief John Lafferty. A third DHS official said the department was actively considering separating women from their children but has not made a decision. About 54,000 children and their guardians were apprehended between 1 October 2016, and 31 January 2017, more than double the number caught over the same time period a year earlier.

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The sadness is deafening.

Parents Fearing Deportation Pick Guardians For US Children (R.)

Parents who immigrated illegally to the United States and now fear deportation under the Trump administration are inundating immigration advocates with requests for help in securing care for their children in the event they are expelled from the country. The Coalition for Humane Immigrant Rights of Los Angeles (CHIRLA) advocacy group has been receiving about 10 requests a day from parents who want to put in place temporary guardianships for their children, said spokesman Jorge-Mario Cabrera. Last year, the group said it received about two requests a month for guardianship letters and notarization services. At the request of a nonprofit organization, the National Lawyers Guild in Washington D.C. put out a call this week for volunteer attorneys to help immigrants fill out forms granting friends or relatives the right to make legal and financial decisions in their absence.

In New Jersey, immigration attorney Helen Ramirez said she is getting about six phone calls a day from parents. Last year, she said, she had no such calls. “Their biggest fear is that their kids will end up in foster care,” Ramirez said. President Donald Trump’s administration has issued directives to agents to more aggressively enforce immigration laws and more immigrants are coming under scrutiny by the authorities. For parents of U.S. citizens who are ordered removed, the U.S. Immigration and Customs Enforcement (ICE) agency “accommodates, to the extent practicable, the parents’ efforts to make provisions” for their children, said ICE spokeswoman Sarah Rodriguez. She said that might include access to a lawyer, consular officials and relatives for detained parents to execute powers of attorney or apply for passports and buy airline tickets if the parents decide whether or not to take the children with them.

Randy Capps of the Migration Policy Institute (MPI), a Washington-based non-profit that analyzes the movement of people worldwide, said that while putting contingency plans in place is a good idea, he does not think the level of fear is justified. During the previous administration of President Barack Obama, a Democrat, the likelihood of both parents being deported was slim, Capps said. He doubts there will be a huge shift under Republican Trump toward deporting both parents. “The odds are still very low but not as low as they were – and this is just the beginning of the administration,” he said.

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 July 31, 2016  Posted by at 10:13 pm Finance Tagged with: , , , , , , , , , , ,  4 Responses »


Vincent van Gogh Branches Of An Almond Tree In Blossom in Red 1890

Think about it for a second: If America -and UK, France- were to announce today that they would immediately cease bombing Syria, Iraq, Libya, Afghanistan, would the US be any less safe? Would Europe?

How about if we’d promise to spend all the billions saved by not throwing bombs on them, to help rebuild these countries? Would that make us less safe, from terrorists, from anyone at all? Do you think ‘they’ would ‘hate’ us for that?

It becomes a pretty stupid non-discussion pretty fast, doesn’t it?