Oct 102019
 


Rembrandt van Rijn Small self portrait 1627-28

 

Man, I want to get away from US (and UK) politics, it’s too depressing and I’ve already covered it so much. But I keep getting drawn back in by the nonsensical propaganda out there. I read a lot of stuff every single day, and every single piece is starting to look like any other. I took the following from the Guardian, but it could have been any MSM outlet really. The whole thing is one big insult to my one remaining brain cell (which I’m trying to kill but can’t find).

First: if you see written or otherwise pronounced anywhere that Donald Trump fears Joe Biden, in elections or anywhere else, you’re reading propaganda. Trump has no reason to be afraid of Biden. Not that he minds the Democrats thinking he is. Second: if you see people claiming that accusations about Biden’s ‘dealings’ in Ukraine are unproven, remember that they’ve never been investigated. Maybe a Special Counsel would be an idea. Say, three years and $40 million? Let’s see after that.

Despite the lack of scrutiny, both from the DOJ and the media, we do know that Hunter Biden was paid $50,000 a month by Ukrainian energy company Burisma for not knowing anything about gas, oil or Ukraine. And we know from a Ukrainian MP that Joe Biden himself was paid $900,000 by Burisma. Those are not unproven allegations, as almost every outlet calls them. And they sure as hell ain’t unfounded.

Plus, Trump has every right to ask questions about this, whether in the US or elsewhere. Where he won’t be able to ask questions, if Pelosi and Schiff have their way, is in the fake impeachment inquiry. There he may not even be able to bring a lawyer. Who’s afraid of whom exactly, and of what? Here’s that Guardian piece:

‘He’s Laughing At Us’: Joe Biden For First Time Calls For Trump To Be Impeached

Joe Biden has for the first time called for Donald Trump to be impeached for abusing the powers of his office to help his own re-election. Delivering a blistering 25-minute speech at a campaign event in New Hampshire on Wednesday, Biden, the former vice-president under Barack Obama, departed from his usual campaign pitch and signalled that he will aggressively confront Trump as the president pushes unfounded accusations that Biden and his son Hunter had nefarious dealings in Ukraine.


Trump is “shooting holes in the constitution”, Biden said, by asking foreign powers to interfere in the 2020 election by pursuing dirt on the Bidens and then refusing to cooperate with a resulting House impeachment inquiry. “This is a president who has decided this nation doesn’t have the tools, the power, the political will” to punish bad behavior, Biden said, cataloguing a litany of Trump’s misdeeds that he said warrant impeachment. “He’s not just testing us,” Biden said. “He’s laughing at us.” Trump retorted via Twitter. “So pathetic,” he wrote.

It is curious. The entire fake impeachment inquiry is based on Trump pursuing dirt on Biden, specifically in his phone call with Ukraine president Zelensky. Something Zelensky himself more than once has squarely denied ever happened. What must he think of the US, when his denials are completely ignored?

What did happen, says John Solomon, is that a DNC contractor solicited Trump dirt in 2016 in Ukraine. Given the above, is it any wonder Zelensky’s said he’d be happy to investigate what happened in Ukraine in 2016? He might take a look at the Biden family while he’s at it.

Nancy Pelosi, the House of Representatives speaker and the most powerful Democrat in Congress, announced an impeachment inquiry against Trump on 24 September after a whistleblower alleged the White House had attempted to cover up a July call between Trump and the Ukrainian president. At issue is the question of whether Trump abused his office by using its power to his own political advantage, by pushing a Ukrainian investigation of Joe Biden and his son Hunter, who was on the board of a Ukrainian energy company.


There is no evidence to support Trump’s claims that Biden exploited his influence as vice-president to aid his son or his business. Biden on Wednesday again condemned Trump’s “lies and smears and distortion” and said the president peddles them because he fears facing Biden in a general election. “He’s trying to create a campaign where truth and facts are irrelevant,” Biden said, adding that the spectacle covers the president’s “manifest incompetence”. “We’re not going to let Donald Trump pick the Democratic nominee for president,” Biden added. “I’m not going to let him get away with it. He’s picked a fight with the wrong guy.”

Joe, Joe, Trump didn’t pick a fight with you. And he’s not scared of you either (but he loves for you to think he is). You’re flattering yourself. And you’re not some tough guy either, you’ve lived on Capitol Hill for too long to be tough.

Without evidence, and contrary to the accounts of several Ukrainian officials, Trump has claimed Biden used his role as vice-president to protect his son from corruption investigations when he pressed for the firing of the top Ukrainian prosecutor, Viktor Shokin, during Obama’s second term. Ukrainian officials, including one Shokin successor, have disputed Trump’s claims, and Biden has previously noted that the Obama administration’s position was supported by many other western governments, who saw Shokin as incompetent or corrupt.

Yeah, you know who called Shokin incompetent or corrupt? Victoria Nuland, that’s who. The story was that he wasn’t tough enough on corruption, but in reality he was too tough on corruption involving the US and its friends. For instance, he was investigating Burisma, and Joe Biden didn’t like that one bit. And the ‘many other western governments’ didn’t have enough knowledge to contradict the US in this.

Many of the other 19 Democratic 2020 candidates have long supported the opening of an impeachment inquiry into Trump, following the findings of Robert Mueller’s investigation into Russia’s interference into the 2016 election and links between the Trump 2016 campaign and Moscow.

This takes the cake. And eats it too. What the Guardian claims here is that the utter failure that was the Mueller probe, which failed to find any dirt on Trump, has been reason for the Democratic candidates to support an impeachment inquiry into Trump over a phone call with Ukraine. How convoluted is that? There were no links between the Trump 2016 campaign and Moscow. Don’t take my word for it, Mueller said so.

“Following the findings of Robert Mueller’s investigation..” Mueller didn’t find anything, remember? The only things left standing in his report were accusations against Julian Assange and a bunch of anonymous Russians, because he knew these were people who couldn’t defend themselves. Because of that, I said back in February that Robert Mueller Is A Coward And A Liar. He is. He is not a stand-up straight shooter.

Biden’s speech on Wednesday came as his campaign continues internal deliberations over the best way to handle Trump’s broadsides and an impeachment inquiry that could last months and potentially never result in the Republican-led Senate removing Trump from office – even if the Democratic-led House impeaches him. “When I announced my candidacy,” Biden recalled,“I said I was running in order to restore the soul of America. That wasn’t hyperbole.”

Ha ha. Could have fooled me there, Joe. Restore the soul of America without hyperbole. Brilliant!

But his advisers also point to the 2016 presidential campaign, when Trump dominated media narratives of the Republican primary and the general election against Hillary Clinton with a barrage of attacks on his opponents that forced them to campaign on his terms. Biden nodded at that reality, as well, and promised he won’t let that get in his way. “I’m not going to be distracted,” he said. “None of these attacks are true, and I’m going to stay focused on your lives. That’s what this election is about,” he continued.

Look, it’s not okay that whistleblower rules are changed in half-secrecy overnight from requiring first-hand to second (or third) hand information. It’s not okay that the Democrats try to start an impeachment inquiry while disregarding the rules that have long existed for such an inquiry. It’s not okay that they do so on the basis of a phone call that the Ukraine president himself says contained none of the ingredients the Dems claim it did.

It’s not okay to try and keep the Republican House minority out of the proceedings, and it might even disqualify those proceedings entirely. If Trump is as bad a person and politician as the Democrats claim, it must be possible to figure that out while at the same time respecting the rules, regulations and the entire political system. Once you deviate from all that, you put the system itself at risk. Is that worth it? There’s an election in just over a year.

The media continues to refer to Trump’s allegations about Biden as unproven, knowing full well they’ve never been investigated. At the exact same time, they also keep bringing up Trump’s alleged ‘nefarious’ dealings with Russia, even though 2+ years of Robert Mueller and an entire platoon of lawyers came up empty on those. A level playing field?

I think I have an idea who’s afraid of whom. And there’s also this creeping/creepy feeling that the impeachment inquiry that isn’t one, is part of the 2020 election cycle. And that isn’t, and should not be, what such inquiries are for. Not even if you’re afraid of losing the election – that’s cheating.

 

 

 

 

Oct 072019
 
 October 7, 2019  Posted by at 9:30 am Finance Tagged with: , , , , , , , , , , , , ,  23 Responses »


Print your own Assange mask

 

The ‘Whistleblower’ Probably Isn’t (Taibbi)
DNC Colluded With Ukraine To Boost Hillary By Harming Trump – Report (DWire)
Bob Woodward: GOP Senators ‘Choking’ On Trump-Ukraine Scandal (WE)
Trump Gives Blessing To Turkish Operation In Northern Syria (AFP)
In Last Minute Call, Erdogan Agrees To Meet Trump Over Syria ‘Safe Zone’ (ZH)
Arise, Commissioner Farage! (Pol.eu)
Brexit Border Talk Stirs Up Bad Memories In Northern Ireland (G.)
An Actual Conspiracy Kept Jeffrey Epstein’s Accomplices out of Prison
Chinese Farmers Raise Mutant Pigs The Size Of Polar Bears (ZH)
Lula’s Prosecutors Request His Release From Prison. He Refuses. (Greenwald)
HSBC Planning To Cut 10,000 More Staff (AFP)

 

 

Not even close.

The ‘Whistleblower’ Probably Isn’t (Taibbi)

Start with the initial headline, in the story the Washington Post “broke” on September 18th: “TRUMP’S COMMUNICATIONS WITH FOREIGN LEADER ARE PART OF WHISTLEBLOWER COMPLAINT THAT SPURRED STANDOFF BETWEEN SPY CHIEF AND CONGRESS, FORMER OFFICIALS SAY”. The unnamed person at the center of this story sure didn’t sound like a whistleblower. Our intelligence community wouldn’t wipe its ass with a real whistleblower. Americans who’ve blown the whistle over serious offenses by the federal government either spend the rest of their lives overseas, like Edward Snowden, end up in jail, like Chelsea Manning, get arrested and ruined financially, like former NSA official Thomas Drake, have their homes raided by FBI like disabled NSA vet William Binney, or get charged with espionage like ex-CIA exposer-of-torture John Kiriakou.


It’s an insult to all of these people, and the suffering they’ve weathered, to frame the ballcarrier in the Beltway’s latest partisan power contest as a whistleblower. I’ve met a lot of whistleblowers, in both the public and private sector. Many end up broke, living in hotels, defamed, (often) divorced, and lucky if they have any kind of job. One I knew got turned down for a waitressing job because her previous employer wouldn’t vouch for her. She had little kids. The common thread in whistleblower stories is loneliness. Typically the employer has direct control over their ability to pursue another job in their profession. Many end up reviled as traitors, thieves, and liars. They often discover after going public that their loved ones have a limited appetite for sharing the ignominy. In virtually all cases, they end up having to start over, both personally and professionally.

Read more …

When will the MSM start publishing about the “DNC-UKRAINE SCANDAL”? The Director of the National Anti-Corruption Bureau of Ukraine was convicted in Ukraine for interfering in the U.S. presidential election in 2016…

DNC Colluded With Ukraine To Boost Hillary By Harming Trump – Report (DWire)

The Blaze has released an audio recording that they recently obtained that appears to show Artem Sytnyk, Director of the National Anti-Corruption Bureau of Ukraine, admitting that he tried to boost the presidential campaign of Hillary Clinton by sabotaging then-candidate Donald Trump’s campaign. The connection between the Democratic National Committee (DNC) and the Ukrainian government was veteran Democratic operative Alexandra Chalupa, “who had worked in the White House Office of Public Liaison during the Clinton administration” and then “went on to work as a staffer, then as a consultant, for Democratic National Committee,” Politico reported.

Chalupa was working directly with the Ukrainian embassy in the United States to raise concerns about Trump campaign chairman Paul Manafort and, according to Politico, she indicated that the Embassy was working “directly with reporters researching Trump, Manafort and Russia to point them in the right directions.” The Ukrainian embassy political officer who worked at the embassy at the time, Andrii Telizhenko, stated that the Ukrainians “were coordinating an investigation with the Hillary team on Paul Manafort with Alexandra Chalupa” and that “the embassy worked very closely with” Chalupa. The Blaze highlighted an email from WikiLeaks from Chalupa to Louise Miranda at the DNC:

“Hey, a lot coming down the pipe. I spoke to a delegation of 68 investigative journalists from Ukraine last night at the Library of Congress, the Open World Society forum. They put me on the program to speak specifically about Paul Manafort. I invited Michael Isikoff, who I’ve been working with for the past few weeks, and connected him to the Ukrainians. More offline tomorrow, since there was a big Trump component you and Lauren need to be aware of that will hit in the next few weeks. Something I’m working on that you should be aware of.” The Blaze then reported that Sytnyk, who eventually “was tried and convicted in Ukraine for interfering in the U.S. presidential election in 2016,” released a “black ledger” on Manafort during the 2016 presidential election that eventually led to Manafort’s downfall.

Read more …

Republicans drowning in donations.

Bob Woodward: GOP Senators ‘Choking’ On Trump-Ukraine Scandal (WE)

Veteran journalist Bob Woodward said Republican senators are “choking” on President Trump’s Ukraine scandal. At his second appearance in Spokane, Washington, in as many days, the famed Watergate sleuth discussed the precarious situation GOP lawmakers find themselves in as Trump faces controversy for encouraging foreign countries to investigate Joe Biden, a political rival, and his son Hunter. “I know Republican senators, and they are choking on this,” Woodward said on Friday, according to the Spokesman-Review. “Whether they say that’s too much, I don’t know.” Some Republicans in the upper chamber have begun to break ranks after Trump openly encouraged Ukraine and China to investigate the Bidens on Thursday.

Among those who have vented publicly are Maine Sen. Susan Collins, Nebraska Sen. Ben Sasse, and Utah Sen. Mitt Romney, as well as Texas Rep. Will Hurd in the House. Trump, who claims his overtures were about corruption and not crippling a political opponent in the 2020 election, repeatedly castigated Romney on Saturday, even calling for his impeachment. In a discussion with college students on Thursday, Woodward said the situation for Trump is getting “more serious each day” and predicted that impeachment in the House “is almost certainly going to happen to Trump.” He added, “But then there’s a trial in the Senate.”

On Friday, Woodward acknowledged that Trump encouraging foreign countries to investigate the Biden family is “probably not criminal,” but he nonetheless referred to the controversy as being wide in scope. Speaking of the House impeachment inquiry, Woodward said, “They’re looking through a keyhole, and it’s a panorama.” Woodward also noted how some Republicans in the Senate are seeing an advantage from the Democrats’ impeachment venture. He mentioned that Sen. Lindsey Graham, a former Trump critic who has become one of his most vociferous defenders, is seeing an influx of donations. Woodward said the South Carolina Republican told him he “couldn’t count the money fast enough.”

Read more …

If the US leaves the Kurds alone to be cannon fodder for Erdogan, it will deeply regret it. No-one counting on US support will ever trust it again.

Picked up on Twitter: “…the US persuaded the SDF Kurds to dismantle defensive positions that deterred Turkey, promising security guarantees in exchange. Then once the SDF Kurds became defenseless, Trump gave Erdogan the green light to invade. Hard to imagine a more sinister sequence of events.”

All that said, Trump has been pressing EU countries for a long time to deal with ISIS fighters from their countries. They have refused to even let them come back “home”. That would leave the US to hold them for a long time, and at great cost.

Trump Gives Blessing To Turkish Operation In Northern Syria (AFP)

Donald Trump on Sunday gave his blessing to a Turkish operation targeting Kurdish militants in northern Syria, saying the United States will stand aside as Ankara launches its “long-planned” operation. The move marks a major shift in US policy, and effectively abandons an American ally in the battle against the so-called Islamic State group that took over swathes of Syria. “Turkey will soon be moving forward with its long-planned operation into Northern Syria,” a White House statement issued late Sunday evening said.


“The United States Armed Forces will not support or be involved in the operation, and United States forces, having defeated the ISIS territorial ‘Caliphate,’ will no longer be in the immediate area,” it said, using another acronym for the Islamic State (IS) group. The statement, which followed a call between the US president and his Turkish counterpart Recep Tayyip Erdogan, also criticized “France, Germany, and other European nations” for what it said was their refusal to take back citizens detained in northern Syria. “Turkey will now be responsible for all ISIS fighters in the area captured over the past two years in the wake of the defeat of the territorial ‘Caliphate’ by the United States,” the statement said.

Read more …

Erdogan blames the US for not establishing the safe zone.

In Last Minute Call, Erdogan Agrees To Meet Trump Over Syria ‘Safe Zone’ (ZH)

Turkish President Tayyip Erdogan again threatened this weekend to initiate a military incursion into northeast Syria, where US-backed Syrian Democratic Forces (SDF) are based (and bolstered locally by small American bases), saying an offensive “both on land and air” would come “as soon as today or tomorrow.” Like many threats of an “imminent” invasion, it appears this proverbial can will be kicked further down the road, as presidents Trump and Erdogan held a “last minute” phone call on Sunday, where it appears the two leaders came to some level of an understanding. They discussed Turkey’s proposed “safe zone” east of the Euphrates in Syria — which Erdogan has long urged a resistant Washington to cooperate militarily on — and though exact details of the exchange weren’t published, they agreed to meet in Washington next month upon Trump’s invitation.

“Erdogan expressed Turkey’s unease with U.S. military and security bureaucracies not doing what is required by the agreement between the two countries, the presidency said, adding that the two men agreed to meet,” Reuters reported of the call. As we reported previously, Turkey’s military is reportedly on high alert, ready to carry out the Turkish president’s orders on short notice, after a longtime military build-up along the border. “We will carry out this operation both on land and air as soon as today or tomorrow,” Erdogan said on Saturday. “We gave all warnings to our interlocutors regarding the east of Euphrates and we have acted with sufficient patience,” the Turkish president added.

He further slammed the prospect of cooperating with the US on a US-Turkey administered safe zone “a fairytale” given Washington’s recalcitrance regarding Syria’s Kurds, the ethnic group’s militias of which Turkey considers “terrorists”. The Kurdish dominated and US-backed Syrian Democratic Forces (SDF) has vowed it will treat any invading Turkish soldiers as an act of war. In a statement the SDF said it would “not hesitate to turn any unprovoked (Turkish) attack into an all-out war” to defend its region in northeast Syria, according to Reuters.

Read more …

Given what Dominic Cummings thinks of Farage, hard to see him taking up a job with much publicity.

Arise, Commissioner Farage! (Pol.eu)

London may not be planning to nominate a commissioner to Brussels but if it does, some say there’s only one option: Nigel Farage. Conservative MP Steve Baker told the Telegraph’s Chopper Brexit Podcast that the Brexit Party member of the European Parliament would be the obvious choice to be the U.K.’s European commissioner, if Brexit is delayed and the country is able to nominate one. “I think we should appoint somebody with about twenty years experience … we should appoint somebody who’s incredibly well-known throughout the institutions, somebody who can be absolutely relied upon at all times to support our exit from the European Union,” he said.


“And therefore I unashamedly back Nigel Farage to be our next European commissioner in the event, in the unfortunate event, should it transpire, though I think it unlikely, that we have to remain in.” Baker, who leads the pro-Brexit European Research Group of MPs in the U.K. parliament, said the idea would be “inspired by the film Armageddon,” referring to a 1998 science fiction movie. There is a scene where “they’re trying to save the world, and so what they do is they land on the asteroid, and they put a nuclear weapon in the heart of the asteroid, and Nigel Farage is that nuclear weapon,” Baker said. “I’ve reason to think he might say that he would accept such an offer,” Baker added, while noting that “my sympathy for Nigel Farage, which has not always been at very high levels, has dramatically increased the more that I am demonized.”

Read more …

A traumatized people. Too easily forgotten.

Brexit Border Talk Stirs Up Bad Memories In Northern Ireland (G.)

Remnants of Hurricane Lorenzo unleashed wind and rain from the Atlantic across the area, a rural pocket of County Fermanagh that marks Northern Ireland’s border with the Republic. “Stay back, stay high, stay dry,” advised the authorities, and residents duly hunkered down. Lorenzo passed without major damage. [..] Around Gortmullan, businesses and ordinary people were left wondering if – and where – to seek cover, a dilemma dating from the 2016 referendum result that now thrummed with urgency. “We’re setting up new companies on both sides of the border,” said Liam McCaffrey, CEO of Quinn Industrial Holdings, which supplies building materials.

Customs checks would be bad enough, but Johnson’s apparent plan to give the Stormont assembly a veto over trading arrangements verged on surreal, said McCaffrey. Power sharing in Northern Ireland collapsed in January 2017 and shows little sign of reviving. “The future of how we trade is to be decided every four years by an assembly that hasn’t sat in three years? Bizarre.” Such was the challenge of Storm Boris. Perhaps it was hot air, a plan destined for oblivion to be superseded by who knows what. Or perhaps it was a blast of what is to come in a no-deal crash-out, or a deal negotiated in the next few weeks or after a general election. The uncertainty was head spinning.

[..] The 310-mile border, drawn in 1922 during the partition of Ireland, bristled with military patrols and fortifications during the Troubles. The 1998 Good Friday agreement and the EU’s single market rendered it invisible, helping to seal the peace. [..] A complex web connects the economies on both sides of the border. Trade in goods is worth about £5.2bn. About a third of Northern Ireland’s goods and services exports are sold to the Republic, while about a quarter of its imports come from the south. Downing Street says electronic paperwork and a “very small number” of physical inspections at traders’ premises would limit disruption. Farmers and business leaders dispute that. Some warn of disaster. Diageo, which makes Guinness and Baileys, estimates a hard border could cost it £1.3m, based on an estimate of an hour’s delay for each of the 18,000 beer trucks that traverse the border each year. Smaller businesses with tight margins could face ruin.

Read more …

How could this ever happen? “The parties anticipate that this agreement will not be made part of any public record. If the United States receives a Freedom of Information Act request or any compulsory process commanding the disclosure of the agreement, it will provide notice to Epstein before making that disclosure.”

An Actual Conspiracy Kept Jeffrey Epstein’s Accomplices out of Prison (MJ)

But not limited to: It was just a four-word phrase, a bit of plain contractual verbiage, but even now, more than a decade later, Spencer Kuvin has a hard time expressing just how bizarre it was. “It’s incredibly odd language,” said Kuvin, an attorney in Florida. “I’ve never seen it before in a non-prosecution agreement.” Kuvin and I were talking about the infamous and inexplicable 2007 plea deal offered by then–US Attorney Alexander Acosta, last seen slinking out of the Labor Department’s back door. Kuvin had represented three of Epstein’s victims at the time of the agreement, and Kuvin is still exercised about the deal, in particular its brief immunity clause that continues to protect Epstein’s co-conspirators.

According to a ruling by US District Judge Kenneth Marra in February 2019, “from between about 1999 and 2007, Jeffrey Epstein sexually abused more than 30 minor girls…at his mansion in Palm Beach, Florida, and elsewhere in the United States and overseas.” The ruling goes on to describe a child sex ring: “In addition to his own sexual abuse of the victims, Epstein directed other persons to abuse the girls sexually. Epstein used paid employees to find and bring minor girls to him. Epstein worked in concert with others to obtain minors not only for his own sexual gratification, but also for the sexual gratification of others.”

But back in 2007, Epstein was charged only with procuring an underage girl for prostitution, having struck an unbelievable sweetheart deal with Acosta. Epstein served 13 months in a Palm Beach County jail, of which six days a week were spent on work release in his high-rise office, a limo chauffeuring him to and from jail. He was also required to register as a sex offender. The deal on its face is incredibly favorable to Epstein. If you look closer, things get even better for him:

“The United States also agrees that it will not institute any criminal charges against any potential co-conspirators of Epstein, including but not limited to Sarah Kellen, Adriana Ross, Lesley Groff, or Nadia Marcinkova.” The four women named had allegedly helped recruit underage girls for Epstein at his direction. But that four-word phrase “but not limited to” gave a free pass to anybody who would have helped Epstein acquire or traffic underage girls for sex. How could the government agree to immunize “any potential co-conspirators” of an alleged serial child rapist? The question is at the center of so many conspiracy theories surrounding Epstein’s life and death.

Read more …

Me when I see this, I’m thinking Dante’s Ninth Circle of Hell.

Chinese Farmers Raise Mutant Pigs The Size Of Polar Bears (ZH)

Amid one of the worst food crises in recent memory, Chinese farmers are reportedly trying to breed larger pigs as the African swine fever – less affectionately known as ‘pig ebola’ – has destroyed over 100 million pigs, between one-third and a half of China’s supply of pigs by various estimates, causing pork prices to explode to levels never seen before. As Beijing scrambles to make up for the lost domestic supply with imports, even desperately waiving tariffs on American pork products in what China’s politicians tried to sell to their population (and Washington) as a “gesture of goodwill”, farmers in southern China have raised a pig that’s as heavy as a polar bear.

Once slaughtered, these giant mutant pigs can fetch a, well, giant price on the market. Here’s more from Bloomberg: “The 500 kilogram, or 1,102 pound, animal is part of a herd that’s being bred to become giant swine. At slaughter, some of the pigs can sell for more than 10,000 yuan ($1,399), over three times higher than the average monthly disposable income in Nanning, the capital of Guangxi province where Pang Cong, the farm’s owner, lives.” Soaring pork prices have encouraged small and large farms to experiment with DIY genetic experimentation, in the name of raising pigs that are about 40% heavier than the ‘normal’ weight of 125 kilos.

“High pork prices in the northeastern province of Jilin is prompting farmers to raise pigs to reach an average weight of 175 kilograms to 200 kilograms, higher than the normal weight of 125 kilograms. They want to raise them “as big as possible,” said Zhao Hailin, a hog farmer in the region.”

Read more …

The entire case is falling to bits.

Lula’s Prosecutors Request His Release From Prison. He Refuses. (Greenwald)

The same Brazilian prosecutors who for years exhibited a single-minded fixation on jailing former President Luiz Inácio Lula da Silva are now seeking his release from prison, requesting that a court allow him to serve the remainder of his 11-year sentence for corruption at home. But Lula — who believes the request is motivated by fear that prosecutorial and judicial improprieties in his case, which were revealed by The Intercept, will lead to the nullification of his conviction — is opposing these efforts, insisting that he will not leave prison until he receives full exoneration. In seeking his release, Lula’s prosecutors are almost certainly not motivated by humanitarian concerns. Quite the contrary: Those prosecutors have often displayed a near-pathological hatred for the two-term former president.

Last month, The Intercept, jointly with its reporting partner UOL, published previously secret Telegram messages in which the Operation Car Wash prosecutors responsible for prosecuting Lula cruelly mocked the tragic death of his 7-year-old grandson from meningitis earlier this year, as well as the 2017 death of his wife of 43 years from a stroke at the age of 66. One of the prosecutors who participated publicly apologized, but none of the others have. Far more likely is that the prosecutors are motivated by desperation to salvage their legacy after a series of defeats suffered by their once-untouchable, widely revered Car Wash investigation, ever since The Intercept, on June 9, began publishing reports based on a massive archive of secret chats between the prosecutors and Sergio Moro, the judge who oversaw most of the convictions, including Lula’s, and who now serves as President Jair Bolsonaro’s Minister of Justice and Public Security.

The prosecutors’ cynical gambit, it appears, is that the country’s Supreme Court — which two weeks ago nullified one of Moro’s anti-corruption convictions for the first time on the ground that he violated core rights of defendants — will feel less pressure to nullify Moro’s guilty verdict in Lula’s case if the ex-president is comfortably at home in São Paulo (albeit under house arrest) rather than lingering in a Curitiba prison. But this strategy ran into a massive roadblock when Lula demanded that he not be released from prison unless and until he is fully exonerated.

Read more …

Weep for the bankers.

HSBC Planning To Cut 10,000 More Staff (AFP)

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after announcing the resignation of its chief executive and the cutting of 4,000 posts citing a weak global outlook. The latest losses, mostly in high-paid roles, are part of a fresh cost-cutting drive by interim boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported. “We’ve known for years that we need to do something about our cost base, the largest component of which is people — now we are finally grasping the nettle,” the paper quoted an unnamed source as saying.


“There’s some very hard modelling going on. We are asking why we have so many people in Europe when we’ve got double-digit returns in parts of Asia.” The London-headquartered bank last month announced the shock exit of CEO John Flint after just 18 months in the hot seat but gave no reason for the decision. At the same time it revealed it would axe two percent of its global workforce, or roughly 4,000 mostly management jobs, in a new restructuring aimed at weathering the global turmoil. Still, its reported first-half net profit rose 18.6 percent on-year to $8.5 billion. It is due to report third-quarter earnings at the end of October.

Read more …

 

 

 

 

Oct 062019
 
 October 6, 2019  Posted by at 10:14 am Finance Tagged with: , , , , , , , , , , ,  15 Responses »


Paul Gauguin Cow on the seashore 1886

 

Powell: Fed’s Job To Keep Economy In A ‘Good Place As Long As Possible’ (CNBC)
Auto Imports From Mexico Surge As US Sales Decline (WS)
The Ukraine Affair Is Damning, All Right – Just Not In The Way You Think (RT)
Trump Told Theresa May He Doubted Russia Was Behind Skripal Poisoning (G.)
US Media Now Filled With Former Intelligence Agents (Rania Khalek)
Hong Kong Democrats To Challenge Mask Ban In Court (HKFP)
Hong Kong Mask Ban Spurs New Mass Protest On Sunday (BBC)
Epstein Victim Says Leslie Wexner “Responsible For What Happened To Me” (Hill)
24 State Attorneys General Launch Legal Challenge Against Purdue Pharma (Hill)

 

 

This is so incredibly stupid and nobody calls him out over it.

Powell: Fed’s Job To Keep Economy In A ‘Good Place As Long As Possible’ (CNBC)

Federal Reserve Chairman Jerome Powell described the U.S. economy on Friday as being solid, noting the central bank must do what it can to keep it there. “While not everyone fully shares economic opportunities and the economy faces some risks, overall it is— as I like to say— in a good place,” Powell said in prepared remarks delivered at a “Fed Listens” event in Washington. The event is part of a monetary policy communication review by the Fed. “Our job is to keep it there as long as possible.” Powell’s comments came after a raft of disappointing data releases this week. On Tuesday, the Institute for Supply Management said U.S. manufacturing contracted to its weakest level in a decade.


The ISM also said Thursday that the U.S. services sector grew at its slowest pace since August 2016. The Labor Department, meanwhile, reported weaker-than-expected jobs growth for September. This batch of weaker-than-forecast economic numbers led traders to ratchet up their bets on easier monetary policy from the Fed. Market expectations for a rate cut later this month are around 80%, according to the CME Group’s FedWatch tool. “While we believe our strategy and tools have been and remain effective, the U.S. economy, like other advanced economies around the world, is facing some longer-term challenges—from low growth, low inflation, and low interest rates,” Powell said, adding the Fed is “examining strategies” that will help it achieve its inflation goal of 2%.

Read more …

Something ain’t happening.

Auto Imports From Mexico Surge As US Sales Decline (WS)

Automakers continue to shift their production base from the U.S. to Mexico, where labor costs pale in comparison with those in the U.S., despite growing opposition from U.S. auto workers and their unions. U.S. imports of new vehicles from Mexico surged by 8% in the first three quarters of 2019, according to the auto manufacturers association AIMA, released by Mexico’s National Institute of Statistics and Geography (INEGI). This surge has occurred even as total deliveries of vehicles to end-users in the US fell by 1.6%. Between January and September 2019, 2.03 million new vehicles were dispatched from assembly plants in Mexico to the U.S. market, 158,000 more than during the first three quarters of 2018.


In the last eight years, auto imports from Mexico have almost doubled, from 1.3 million in 2011 to 2.57 million last year, at annual growth rates of between 6.3% and 13.9%. Barring any major supply chain hiccups, the U.S. is on track to import over 2.7 million new vehicles from Mexico this year. The latest figures cement Mexico’s position as number one exporter of automobiles to the US, ahead of Canada in second place. According to AIMA, 16% of the 12.7 million cars and other light vehicles delivered in the U.S. in the first three quarters of 2019 were assembled in Mexico.

Read more …

Nebojsa Malic, senior writer at RT: “It’s curious how the same treatment was not given a few months ago to the anti-Trump text messages of FBI employees Peter Strzok and Lisa Page..”

The Ukraine Affair Is Damning, All Right – Just Not In The Way You Think (RT)

Democrats say texts and transcripts involving US officials dealing with Ukraine prove President Donald Trump should be impeached. What they actually confirm, however, is the extent to which the US treats Ukraine as a vassal. At the heart of the latest media firestorm are the text messages between US diplomats and Trump’s personal attorney Rudy Giuliani. House Democrats seeking to impeach Trump have already sent a subpoena to the White House seeking more documents, and their allies in the media have proclaimed the texts to be “damning.” Much of the brouhaha centers on messages from Bill Taylor, charge d’affaires at the US Embassy in Kiev, who is the only one to suggest the military aid to Ukraine and President Volodymyr Zelensky’s meeting with Trump are being “conditioned” on investigations of Hunter Biden and Ukraine’s role in 2016 meddling in the US election.

In one of the exchanges with US ambassador to the EU, Gordon Sondland, dated September 9, Taylor spells out what would become the Democrats’ argument for impeachment: “As I said on the phone, I think it’s crazy to withhold security assistance for help with a political campaign.” Sondland’s admonishment of Taylor – “I believe you are incorrect about President Trump’s intentions. The President has been crystal clear: no quid pro quo’s of any kind.” – is somehow being held up as an admission of wrongdoing, along with his request for a phone call instead of continued texts. Just like that, all of a sudden, the controversy about the so-called “whistleblower” who may have colluded with House Intelligence Committee chair Adam Schiff (D-California) before filing his complaint – based on hearsay – is declared “irrelevant” and the texts are held up as the Holy Grail of impeachment proceedings.

It’s curious how the same treatment was not given a few months ago to the anti-Trump text messages of FBI employees Peter Strzok and Lisa Page, when the entire media establishment twisted itself into pretzels to explain that when Strzok said “we’ll stop” Trump from becoming president what he really meant, you see, was something totally innocuous and not sinister at all. House Republicans have blasted the diplomatic texts as “cherry-picked” by the other party, and argued that the closed-doors testimony of Kurt Volker, former US special envoy to Ukraine who participated in the exchanges, painted a completely different picture. Reading the transcript of Volker’s opening statement, obtained and published Friday by investigative reporter John Solomon and the Federalist, seems to back that claim.

Read more …

Sacrilege. BTW, where is Skripal? Hiding out with Wexner and Maxwell?

Trump Told Theresa May He Doubted Russia Was Behind Skripal Poisoning (G.)

Donald Trump disputed that Russia was behind the attempted murder of a former Russian spy in a tense call with Theresa May, it has emerged. Despite the widespread conclusion that Vladimir Putin’s regime was behind the poisoning of Sergei Skripal and his daughter Yulia last year, the US president is said to have spent 10 minutes expressing his doubts about Russian involvement. According to the Washington Post, Trump “harangued” May about Britain’s contribution to Nato in a phone call with Britain’s then prime minister in the summer of last year, before disputing Russian involvement in the Skripal case.


“Trump totally bought into the idea there was credible doubt about the poisoning,” said a figure briefed on the call. “A solid 10 minutes of the conversation is spent with May saying it’s highly likely and him saying he’s not sure.” The Skripals were left fighting for their lives after the novichok attack in Salisbury, while a policeman was also left seriously ill. A second policeman was recently discovered to have been injured in the attack. Two Russian agents, Alexander Petrov and Ruslan Boshirov, were identified as the likely culprits. However, they later appeared on Russia’s state-funded TV station RT, claiming they visited the “wonderful” English city as tourists to see its cathedral.

Read more …

Any day now, CNN can start a spook soccer team.

US Media Now Filled With Former Intelligence Agents (Rania Khalek)

After years in the shadows overseeing espionage, kill programs, warrantless wiretapping, entrapment, psyops and other covert operations, national security establishment retirees are are turning to a new line of work where they can carry out their imperial duties. That is, propagandizing the public on cable news. Reborn as cable news pundits, these people are cashing in. So many years working in the dark, only to emerge in the studio lights of the same networks that rail all day everyday against state TV from countries that America hates. I’m talking about people like… Below is but a partial list of prominent former spooks turned mainstream media pundits and analysts, to say nothing of the even greater numbers of retired generals the network continuously rely on.

• Former CIA Director John Brennan who is now an NBC News senior national security and intelligence analyst.
• Fran Townsend, former homeland security advisor to George W. Bush. She’s now a CBS News senior national security analyst.

But CNN takes the cake — it’s the biggest spook show of all.
• Jim Clapper, former Director of National Intelligence, now a CNN national security analyst.
• Retired General Michael Hayden, former director of the CIA and the NSA, now a CNN national security analyst.
• Asha Rangappa, former FBI special agent, now CNN legal analyst.
• James Gagliano, a retired FBI supervisory special agent, now a CNN law enforcement analyst.
• Tony Bliken, former deputy secretary of state and former deputy national security advisor, and now CNN global affairs analyst.
• Mike Rogers, former chair of the House Intelligence Committee, now CNN national security commentator.
• Samantha Vinograd senior advisor to the national security advisor under President Obama, now CNN national security analyst.
• Steven Hall, retired CIA chief of Russia operations, now a CNN national security analyst.
• Philip Mudd, former CIA counter-terrorism official, now CNN counter-terrorism analyst.

…Welcome to the spook show!

Read more …

Kyle Bass on Twitter: “Bank runs all over Hong Kong now. ATM machines running out of cash but there is something more important…failed leader carrie lam(b) can now officially confiscate bank accounts and assets without recourse. The HK legal system is essentially gone.”

Challenge was already thrown out by the High Court in the meantime.

Hong Kong Democrats To Challenge Mask Ban In Court (HKFP)

Hong Kong’s pro-democracy lawmakers will challenge the newly imposed mask ban in court, arguing that Chief Executive Carrie Lam broke the law when she bypassed the legislature. Filed jointly by all 24 democrats, the lawsuit targeted the Emergency Regulations Ordinance (ERO) – the colonial-era law that grants the city’s leader and her council of advisors wide-ranging powers to “make regulations on occasions of emergency or public danger.” Democrats called for the mask ban to be suspended, before a proper judicial review hearing can be held. The court will hear their first round of arguments at Sunday 10am.


The lawmakers said that Lam “circumvented” the constitutional framework of One Country, Two Systems when she invoked the ERO to ban facial coverings at legal and unauthorised protests from Saturday. “Since the Handover, there has never been an occasion when the chief executive enacted legislation without going through LegCo,” said Civic Party lawmaker Dennis Kwok. On Friday, the High Court dismissed a bid by activists Lester Shum and “Long Hair” Leung Kwok-hung to suspend the law, saying that their case was not strong enough to outweigh the government’s rationale. Kwok said that the democrats’ lawsuit was different, as they had special standing as lawmakers to make constitutional arguments.

Read more …

Lam: “We cannot allow rioters any more to destroy our treasured Hong Kong.”

That is HER treasured HK, not THEIRS?

Hong Kong Mask Ban Spurs New Mass Protest On Sunday (BBC)

Thousands of anti-government protesters have turned out for marches in Hong Kong despite pouring rain, spurred into action by a government ban on masks. Many defiantly covered their faces as they set off from several points in a co-ordinated response to the ban, which the High Court upheld on Sunday. Metro services, which were attacked by rioters on Friday, have resumed in some parts of the Chinese city. The masks have become the latest focus in months of pro-democracy protests. Police use of live bullets against protesters this week, leaving two people injured, has also fuelled the unrest. Chief executive Carrie Lam introduced the ban by invoking powers dating back to colonial rule by the British.

Demonstrators fear that democratic rights are being eroded in the semi-autonomous territory under Chinese rule. Many more people have turned out than on Saturday, when a small march was held in the aftermath of Friday’s rioting. Two groups set off at the same time from the Causeway Bay and Tsim Sha Tsui districts, the South China Morning Post reports. Shops could be seen closing early while luxury and chain stores were closed in Causeway Bay. On Friday, both businesses and railway stations were attacked by rioters. Hosun Lee, a protester in Causeway Bay, told AFP news agency he feared more emergency laws were on the way. “The anti-face mask law is the first step,” he said.

Ms Lam vowed on Saturday to prevent further violence, saying: “We cannot allow rioters any more to destroy our treasured Hong Kong.” She justified the law against masks as a response to the demonstrators’ “extreme violence” which was, she said, endangering Hong Kong’s public safety. A second legal challenge to the mask ban, which was brought by opposition legislators, was rejected by the High Court. The legislators had argued that the prohibition was unconstitutional because it denied the rights of free expression and free assembly.

Read more …

Wexner is walking around free, as is Ghislaine. Not sure about Skripal.

Epstein Victim Says Leslie Wexner “Responsible For What Happened To Me” (Hill)

A woman allegedly attacked by Jeffrey Epstein said she holds Victoria’s Secret billionaire Leslie Wexner “responsible for what happened to me” because she was staying on a property monitored by Wexner and his wife and guarded by his security team, the Washington Post reported. Maria Farmer stayed in a home that was a half-mile away from Wexner’s home in New Albany, Ohio during the summer of 1996 while she was creating two paintings for the film “As Good as it Gets.” Farmer was employed by Jeffrey Epstein at the time, and while she was staying in the house in Ohio, she alleges that Epstein and his associate Ghislaine Maxwell sexually assaulted her.


When she tried to leave the home after the alleged assault, Farmer said a security guard employed by Wexner told her “You aren’t leaving,” and “You’re not going anywhere.” She said another security guard later took her by the arm, and as she fought against him, he grabbed her so hard she bruised. Farmer said she also tried to call local police and the Franklin County Sheriff’s office. But Wexner had contracted with the office, and a person told her “we work for Wexner,” when she tried to report the crime, Farmer told the Washington Post. She also alleged that she was discouraged from leaving the house without the permission of Abigail Wexler, Leslie Wexler’s wife. She was later picked up by her father at the Washington home.

Read more …

“..Purdue gave up to $13 billion in company profits to the Sackler family.”

24 State Attorneys General Launch Legal Challenge Against Purdue Pharma (Hill)

US Attorneys General from 24 states and Washington, D.C. launched a lawsuit against Purdue Pharma this week in an attempt to block the OxyContin maker from avoiding thousands of lawsuits after filing for bankruptcy, Reuters reported. The state officials objected to Purdue Pharma’s request that a U.S. bankruptcy judge block the more than 2,600 lawsuits seeking billions in damages, according to court filings, Reuters reported. The lawsuits argue that the company, along with the Sackler family, were a catalyst in the opioid crisis across the country by not disclosing the addictive risks of opioids. “The Sacklers are billionaires, they are not bankrupt,” the Massachusetts attorney general, Maura Healey, told Reuters.


“They should not be allowed to use the filing to shield their assets.” Purdue filed for chapter 11 bankruptcy last month, after reaching a settlement between $10 billion and $12 billion for the thousands of plaintiffs involved in the lawsuits. The committee of attorneys who negotiated the settlement said the filing will not stop the company from finalizing the settlement. But Purdue sought the injunction to stop the lawsuits against the company because the Sackler family did not file for bankruptcy, Reuters reported. The Sacklers have offered to give control of Purdue to the plaintiffs and give at least $3 billion towards the settlement. The case filed this week by the state attorneys general also said Purdue gave up to $13 billion in company profits to the Sackler family.

Read more …

 

 

 

 

Oct 052019
 


Pablo Picasso Head of a bearded man 1940

 

Democrats Subpoena White House For Ukraine Documents (ZH)
2nd Whistleblower May File Complaint About Trump/Ukraine: New York Times (RawS)
House Democrats Target Pence Over Ukraine; Peddle Fiction Over ‘Favor’ (ZH)
Newly Released Rosenstein Emails Reveal Crusade To Investigate Trump (ZH)
Do You Have a Lisance for that Minky? (Kunstler)
Boris Johnson Brexit Plan Hangs By Thread As EU Dismisses Weekend Talks (G.)
China Has No Room for Dissenting Friends (FP)
Hong Kong Mask Ban Sparks Violent Clashes, Rail Shutdown (AFP)
PayPal Becomes First Member To Exit Facebook’s Libra Association (R.)
Regulators Weigh ‘Startle Factors’ For Boeing 737 MAX Pilot Training (R.)
Boeing Crash Victims’ Lawyer To Seek Testimony From 737 MAX Whistleblower (R.)
Greece Needs To Face Reality About Asylum Seekers (HRW)
Air Pollution And Human Health Impacts Of Cryptocurrency Mining (SD)

 

 

This is not how US election campaigns used to look.

Democrats Subpoena White House For Ukraine Documents (ZH)

Just one day after President Trump dared House Speaker Nancy Pelosi to hold an impeachment inquiry vote – a move which would open Democrats up to Republican subpoenas, House Democrats slapped the White House with a subpoena first. Addressed to acting White House Chief of Staff Mick Mulvaney, the subpoena demands documents and communications related to the case being constructed against Trump – namely that his request that Ukraine investigate former Vice President Joe Biden and his son for corruption constitutes election interference and endangered national security. Of note, the Justice Department concluded that Trump’s phone call with Zelensky did not violate campaign finance law.

“How the White House, which has routinely rejected congressional requests for information, responds to the demands for documents could significantly shape the impeachment investigation going forward. Under normal circumstances, the White House could claim materials referred to in both requests were privileged, using that as a defense in court.” -New York Times. What Democrats aren’t pursuing, by the by, is anything resembling due diligence on Biden – the (still) leading Democratic candidate trying to fend off accusations of nepotism in Ukraine and China while abusing his office as Vice President. As we noted earlier Friday, Vice President Mike Pence was hit with a subpoena as well over, demanding information on “any role you may have played” in helping with the Ukraine effort against Biden.

Pence press secretary Katie Waldman said “given the scope, it does not appear to be a serious request but just another attempt by the ‘Do Nothing Democrats’ to call attention to their partisan impeachment.” Pelosi and House Intelligence Committee Chairman Adam Schiff (D-CA) have warned that failure to comply with subpoenas will be viewed as obstruction of Congress – which the Times says is “itself a potentially impeachable offense.” “The White House has refused to engage with — or even respond to — multiple requests for documents from our Committees on a voluntary basis,” reads the subpoena, demanding information by October 15. “After nearly a month of stonewalling, it appears clear that the president has chosen the path of defiance, obstruction, and cover-up.”

Read more …

Also CIA.

2nd Whistleblower May File Complaint About Trump/Ukraine: New York Times (RawS)

President Donald Trump’s impeachment inquiry continues to grow, according to a bombshell new report in The New York Times. “A second intelligence official who was alarmed by President Trump’s dealings with Ukraine is weighing whether to file his own formal whistle-blower complaint and testify to Congress,” The Times reported, citing two people briefed on the matter. “The official has more direct information about the events than the first whistle-blower, whose complaint that Mr. Trump was using his power to get Ukraine to investigate his political rivals touched off an impeachment inquiry,” the newspaper explained. “The second official is among those interviewed by the intelligence community inspector general to corroborate the allegations of the original whistle-blower, one of the people said.”


“A new complaint, particularly from someone closer to the events, would potentially add further credibility to the account of the first whistle-blower, a C.I.A. officer who was detailed to the National Security Council at one point,” the newspaper noted. “Whistle-blowers have created a new threat for Mr. Trump. Though the White House has stonewalled Democrats in Congress investigating allegations raised in the special counsel’s report that Mr. Trump obstructed justice, the president has little similar ability to stymie whistle-blowers from speaking to Congress.”

Read more …

If both Trump and Pence are impeached, Nancy Pelosi is next in line to become president.

But the Dems won’t get any documents until they hold a House vote.

House Democrats Target Pence Over Ukraine; Peddle Fiction Over ‘Favor’ (ZH)

House Democrats on Friday roped Vice President Mike Pence into their investigation into whether President Trump “jeopardized national security” by asking Ukraine to investigate what looks like obvious corruption by former Vice President Joe Biden and his son Hunter. In a letter from Democratic House Committee Chairs Eliot Engel (NY), Adam Schiff (CA) and Elijah Cummings (MD), Pence is given a deadline of October 15 to turn over all documents related to President Trump’s April 21 and July 25 phone calls with Ukrainian President Volodymyr Zelensky. The letter also requests all communications between administration officials regarding the calls, as well as information concerning Trump attorney Rudy Giuliani’s efforts to investigate or pressure Ukraine to investigate the Bidens.


Of note, the letter danced around a popular lie about the call between Trump and Zelensky: According to the record, President Trump stated, “I would like you to do us a favor though.” He also stated, “I would like to have the Attorney General call you or your people and I would like you to get to the bottom of it.” The letter then jumps to a transcript of the July 25 phone call in which Trump said: “There’s a lot of talk about Biden’s son, that Biden stopped the prosecution and a lot of people want to find out about that so whatever you can do with the Attorney General would be great.” Meanwhile, House Democrats purposely conflate Trump’s “favor” – which was actually for the investigation of the DNC servers involving their contractor Crowdstrile – and the Biden investigation.

 

If Pence refuses to comply, the chairmen say it “shall constitute evidence of obstruction” in their impeachment inquiry. For those keeping track – Rep. Schiff lied when he said his office had no contact with the whistleblower (which earned him ‘four Pinocchios’ from the Washington Post). Schiff also fabricated a quote from the Trump-Zelensky call which he read during an official hearing. And now, he and two other House Democratic chairs are doing their best narrative shaping by misrepresenting more facts.

Read more …

Not looking good.

Newly Released Rosenstein Emails Reveal Crusade To Investigate Trump (ZH)

New emails obtained through a Freedom of Information Act (FOIA) lawsuit reveal the details surrounding communications between Deputy Attorney General Rod Rosenstein and Robert Mueller in the days leading up to the former FBI Director’s appointment as special counsel in the Russia probe. Mueller would go on to assemble a team comprising “13 Angry Democrats” as Trump called them, due to their obvious animus towards the president. According to the 145 pages of documents obtained by Judicial Watch, Rosenstein and Mueller were discussing just three days after President Trump fired former FBI Director James Comey, and ostenisbly for some time before that.


“The boss and his staff do not know about our discussions,” Rosenstein wrote Mueller on May 12, 2017 as the two tried to nail down a time for their next conversation. Four days later on May 16- the day before Mueller’s appointment, Rosenstein told former Bush administration Deputy Attorney General and current Kirkland & Ellis Partne, Mark Filip “I am with Mueller. He shares my views. Duty Calls. Sometimes the moment chooses us.” “And on May 17 Rosenstein appointed former FBI Director Robert Mueller to investigate Russian meddling in the 2016 presidential election. Also, during the same time period, between May 8 and May 17, Rosenstein met with then-acting FBI Director Andrew McCabe and other senior Justice Department FBI officials to discuss wearing a wire and invoking the 25th Amendment to remove President Trump.” -Judicial Watch

Read more …

“..that claque of lesser monsters who cooked up the coup to overthrow the president, and botched the job.”

Do You Have a Lisance for that Minky? (Kunstler)

[..] what if it turns out that there actually is no Whistleblower, that the figure was just a fiction, a CGI figment cooked up by Adam Schiff, his lawyers, and sundry other players on the Deep State bench? Sounds outlandish perhaps, but I wouldn’t put it past the congressman from Hollywood. We’ll find out soon enough. Meanwhile, it appears that the purported Whistleblower and his chief handler, Intelligence Community Inspector General (ICIG) Michael Atkinson failed to observe the proper procedures in reporting the complaint through channels, not to mention the legerdemain of sketchy paperwork that attested to the complaint.

Remember who Michael Atkinson is: the former legal counsel to John P. Carlin, who was Assistant Attorney General for National Security during the origin months of the RussiaGate operation in the summer of 2016, and before that chief of staff to… wait for it… Robert Mueller, when he was FBI Director. Do you begin to detect a claque of senior bureaucrats scrambling to cover each other’s ass? Interesting days ahead as this feculent blob of malfeasance creepy-crawls through the spooky weeks of October, climaxing in Halloween. These are the weeks when the DOJ Inspector General’s report on FISA court shenanigans comes down. It’s also the month of the Brexit Absolute Deadline.

That hairball over in Old Blighty might seem of unconcern over here, but it contains enough explosive power to destabilize the European banking system and, with it, America’s, which would lead to some rather scary action in the bond and equity markets at exactly the time of year when accidents like that happen. And then, deeper in the background, like Hades and Thanatos, stand the grave figures of Barr and Durham, whose very silence lo these many months must be giving the vapors to that claque of lesser monsters who cooked up the coup to overthrow the president, and botched the job.

Read more …

“..no basis for such discussions, given the British prime minister’s insistence on there being a customs border on the island of Ireland.”

Boris Johnson Brexit Plan Hangs By Thread As EU Dismisses Weekend Talks (G.)

Boris Johnson’s Brexit plans look to be falling apart as the European commission said there are no grounds to accept a request from the UK for intensive weekend negotiations two weeks before an EU summit. EU sources said there was no basis for such discussions, given the British prime minister’s insistence on there being a customs border on the island of Ireland. Johnson’s chief negotiator, David Frost, along with a team of a dozen British officials, failed to convince their EU counterparts in Brussels on Friday that he had a mandate from Downing Street to compromise on what the EU sees as major flaws in the UK government’s proposals. Frost had been seeking to rescue the British prime minister’s proposed deal after it was strongly criticised.


The EU’s chief negotiator, Michel Barnier, had told diplomats on Thursday evening that the British needed to “fundamentally amend their position”. A European commission spokeswoman said: “We have completed discussions with the UK for today. We gave our initial reaction to the UK’s proposals and asked many questions on the legal text. “We will meet again on Monday to give the UK another opportunity to present its proposals in detail.” The spokeswoman added that the proposals did not “provide a basis for concluding an agreement”. An EU official said: “The UK often asks for meetings to keep [the] process going; we agree we should leave no stone unturned. But there is nothing useful that could be done this weekend.”

Read more …

Muslim silence on Uighurs.

China Has No Room for Dissenting Friends (FP)

In July this year, 22 Western-aligned countries issued a joint statement to the high commissioner of the United Nations’ Human Rights Council objecting to China’s abuses against the Uighur Muslim minority in Xinjiang province. That’s not unusual: The reports of human rights abuses in the province are coming out thick and fast, and Western countries are more than happy to raise concerns against such abuses, whether out of genuine concern, domestic virtue signaling by political leaders, or the use of any available stick to whack a geopolitical rival.

What was remarkable was the 37 countries issuing a counter letter praising China’s human rights record, from humanitarian luminaries including such as Syria, Myanmar, and North Korea. More interestingly, about half of the signatories of this letter were Muslim-majority countries. If the issues had been about Palestinians or even the Rohingya, one might expect the usual cynical domestic virtue signaling by political leaders around the well-worn claims of Muslim solidarity. Instead, they chose to loudly broadcast their support for Beijing’s policy of eradicating the old Islamic culture of the ancient Silk Road gateway to the Chinese heartland in Xinjiang.

The calculation of such leaders, from Turkish President Recep Tayyip Erdogan to Mohammed bin Salman, the de facto head of government of Saudi Arabia, the custodian of the Two Holy Mosques, is well understood and publicized: “Muslim solidarity” is a convenient and effective slogan to be thrown at domestic audiences, but if your national economy—and the personal profits of the elite—depends on the goodwill of Beijing, then you must defer to China’s supposedly sovereign right to do as it pleases within its borders, and forget about the umma.

Read more …

“The government doesn’t listen to us. So we are upping our game…”

Hong Kong Mask Ban Sparks Violent Clashes, Rail Shutdown (AFP)

Hong Kong’s mass transit rail system was suspended and dozens of banks and major shopping malls closed on Saturday after a ban on pro-democracy protesters wearing masks came into effect, sparking widespread anger and violent clashes. The ban, imposed under emergency powers not used in more than half a century, was aimed at quelling nearly four months of unrest. But instead it triggered another wave of mass protests and vows of defiance, with a 14-year-old boy reportedly shot and wounded. Spontaneous rallies broke out across Hong Kong after Chief Executive Carrie Lam announced the emergency law on Friday, with large crowds of office workers blocking roads in the heart of the Central commercial district.


Across the city demonstrators later vandalised subway stations, started street fires and trashed businesses with mainland China ties as police fired tear gas in multiple locations. “The government doesn’t listen to us. So we are upping our game,” said 32-year-old protester Nathalie, as hardcore demonstrators trashed the MTR station in the previously calm neighbourhood of Tseung Kwan O. In the northern district of Yuen Long, a police officer opened fire when he was surrounded in his car and attacked by protesters, a petrol bomb exploding at his feet. Police said the officer fired one round from his gun in self defence. A teenage boy was shot and wounded in the same district, the South China Morning Post reported, citing a medical source.

Read more …

Won’t be the last.

PayPal Becomes First Member To Exit Facebook’s Libra Association (R.)

U.S. payments processor PayPal said on Friday it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group. PayPal said it would forgo any further participation in the group and would instead focus on its own core businesses. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” PayPal said in a statement. In response, Geneva-based Libra Association said it was aware of the challenges lying ahead in its attempts to “reconfigure” the financial system.


“The type of change that will reconfigure the financial system to be tilted towards people, not the institutions serving them, will be hard. Commitment to that mission is more important to us than anything else. We’re better off knowing about this lack of commitment now, rather than later”, Libra Association said in a statement. Facebook declined to comment.

Read more …

Now it’s ‘pilot overload’. And software of course. But the pilots were not overloaded, the hardware didn’t work.

Regulators Weigh ‘Startle Factors’ For Boeing 737 MAX Pilot Training (R.)

Global regulators are looking at “startle factors” that can overwhelm pilots as they consider revised protocols for the Boeing 737 MAX, Nicholas Robinson, the head of civil aviation for Transport Canada, told Reuters on Friday. Boeing Co’s fastest-selling jetliner, the 737 MAX, was grounded worldwide in March after two fatal crashes that killed a total of 346 people within five months. Pilot overload appears to have played a role in both crashes, in which crews struggled to regain control of the airplane while a new flight control system repeatedly pushed the nose down amid a series of other audio and sensory alarms and alerts. “What we need to do is ensure that the aircrew in the MAX are able to handle that environment,” Robinson said in an interview with Reuters.

Transport Canada is among a core group of regulators that is evaluating the requirements for the 737 MAX to fly again after a seven-month grounding. It has been convening weekly by phone, video conferences or face-to-face with the U.S. Federal Aviation Administration and its counterparts in the European Union and Brazil, Robinson said. Their decisions could lead to sweeping changes to pilot flight operating manuals and classroom instruction and even mandates for costly simulator training, industry sources have said. However, no training decisions can be made until Boeing submits software updates to the FAA for review and approval, Robinson said.

Transport Canada is closely aligned with the European Union Aviation Safety Agency on return to service demands and has also raised questions over the architecture behind the 737 MAX’s angle of attack system. “We continue to look for a solution proposed by the manufacturer and the FAA on that area,” he said. Still, Canada’s goal is for the MAX to return in countries across the globe simultaneously, or at least in close succession. “It’s not a necessity, but it’s a goal,” Robinson said.

Read more …

What is it about October and whistleblowers?

Boeing Crash Victims’ Lawyer To Seek Testimony From 737 MAX Whistleblower (R.)

An attorney representing families of passengers killed in a Boeing Co 737 MAX crash in Ethiopia said on Friday he will seek sworn evidence from a Boeing engineer who claims the company rejected a proposed safety upgrade to the 737 MAX because it was too costly. The engineer, Curtis Ewbank, said the upgrade could have reduced risks that contributed to two fatal crashes in Indonesia and Ethiopia that together killed 346 people, according to two people familiar with the complaint. Ewbank filed the complaint through internal Boeing channels after the March crash of Ethiopian Airlines flight 302, the sources said. The sources described the complaint to Reuters, but Reuters has not seen a copy of the complaint.


Managers rejected the proposed upgrade from Ewbank’s team of engineers, called synthetic airspeed, on the basis of “cost and potential (pilot) training impact,” according to the Seattle Times, which first reported the complaint on Wednesday. Robert Clifford, the lead counsel representing families of victims from the Ethiopian Airlines crash, said in an email the complaint raises fresh concerns about Boeing’s culture and whether the company placed too great an emphasis on cost and schedule at the expense of safety. He said he would take steps to depose Ewbank as quickly as possible.

Read more …

Things are getting out of hand again. Hundreds of refugees daily, courtesy of Erdogan. A right wing government is not going to help. Still a dumb headline though.

Greece Needs To Face Reality About Asylum Seekers (HRW)

The Greek islands are under the spotlight again, as a new wave of tragic events has hit asylum seekers trapped there. On 29 September, a big fire broke out in Moria – the notorious camp on the island of Lesbos – killing one woman, and injuring at least nine more people, including a baby, the health ministry reported. On 24 September, a truck killed a five-year-old Afghan boy who was playing just outside Moria. The number of asylum seekers crossing the Aegean from Turkey is also increasing. With camps already overcrowded, conditions are horrific for asylum seekers and migrants trapped there. According to the government’s most recent figures, 26,753 women, men and children live in camps designed for about 6,300. The number has almost doubled since June.


But while the numbers have increased, neither the horrible conditions nor the flawed policies that cause them are new. Underinvestment, a poorly functioning asylum system, and a deliberate policy choice to confine asylum seekers to islands has left thousands trapped there for months or years in inhuman and degrading conditions. Forcing migrants and asylum seekers to remain on the islands was ostensibly to expedite their return to Turkey under the March 2016 EU-Turkey deal. But on 11 September, Gerald Knaus, head of a research organisation whose ideas inspired the EU-Turkey deal, wrote that: “The situation on Greek islands is unacceptable, the asylum system on the verge of collapse. This is a moment of truth.”

Read more …

Abstract of an academic study published at Science Direct.

Air Pollution And Human Health Impacts Of Cryptocurrency Mining (SD)

Cryptocurrency mining uses significant amounts of energy as part of the proof-of-work time-stamping scheme to add new blocks to the chain. Expanding upon previously calculated energy use patterns for mining four prominent cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Monero), we estimate the per coin economic damages of air pollution emissions and associated human mortality and climate impacts of mining these cryptocurrencies in the US and China. Results indicate that in 2018, each $1 of Bitcoin value created was responsible for $0.49 in health and climate damages in the US and $0.37 in China.


The similar value in China relative to the US occurs despite the extremely large disparity between the value of a statistical life estimate for the US relative to that of China. Further, with each cryptocurrency, the rising electricity requirements to produce a single coin can lead to an almost inevitable cliff of negative net social benefits, absent perpetual price increases. For example, in December 2018, our results illustrate a case (for Bitcoin) where the health and climate change “cryptodamages” roughly match each $1 of coin value created. We close with discussion of policy implications.

Read more …

 

The child who is not embraced by the village will burn it down to feel its warmth.

– African proverb

 

 

 

 

Oct 042019
 


Salvador Dali Crepuscular old man 1918

 

It took just 4 months after the deplorably failed Mueller probe of alleged Trump links to Russia, for the Democrats to raise the next -faded- red flag, Ukraine. And they do so in a manner that reminds me, personally, a lot of what happens in the UK. That is, the process has now moved on to what is legal or not and who decides what is or not.

Nancy Pelosi apparently has been told by her legal advice that it’s okay for her to move ahead with an inquiry, that she can even label an Impeachment Inquiry, without following established Capitol Hill procedure. Needless to say, them slopes are mighty slippery. Because if true, it would mean she can call the ‘other side’ offside for as long as she wishes.

She would, in effect, prorogate the US House the same way Boris Johnson tried to do Parliament in Britain. And not by shutting it down from the outside (Boris as PM) but from the inside (using her powers as Speaker). It would appear it’s time for every American to pay attention, because this could have grave consequences far into the future.

Pelosi’s plan is to not have a House vote on initiating the inquiry, but to just go ahead and have one, and stealing the name Impeachment Inquiry for it. Why? Because she thinks that way she can have only Democrats ask questions, issue subpoenas etc., while House Republicans could only sit and watch the spectacle (not what they were elected for).

 

I am not a lawyer, let alone a constitutional scholar, but when I read these things there are a million red hot five-alarms going off in my head. Because this is not about enacting the law, it’s about circumventing it. Just because you have a House majority cannot mean you can simply ignore the minority, or procedure. That would turn democracy into a proxy dictatorship. You don’t want to go there, not even if you’re a desperate Democrat.

But she seems to have made up her mind. So now we face Trump not being allowed to investigate what Joe Biden was up to in the run-up to the 2016 election though Joe’s party could turn that same run-up into a 3-year Special Counsel probe, which turned up less than .. well, you fill it in. It is something to behold.

At the same time, though, there is no Impeachment Inquiry, even if Pelosi calls it that. The White House today will send a letter to a judge contesting exactly that. A House Impeachment Inquiry has a procedure, and if she doesn’t follow that, the White House will deny it’s actually happening, and not respond.

Now, if you follow the headlines this week, you wouldn’t know this. Because they all talk of an impeachment inquiry going on. But you can’t get impeachment without following the official procedure, and Pelosi doesn’t follow it. And the media just go along for the ride without caring about procedure.

 

And obviously you can’t watch this theater and not think that Nancy Pelosi and Adam Schiff et al have not thought about stretching out this whole tragedy for another year, right on the eve of the 2020 election, or even beyond. That they think allegations about Russia, Ukraine and China will help them win.

Because it’s clear that flouting procedure the way they try to do in the House will inevitably have to lead to court decisions, and eventually to the Supreme Court. They’re counting on the damage they can do to Trump while the courts decide. But it won’t just be damage to Trump, however it turns out, it will be damage to the entire country.

And you would think both sides of the aisle recognize that (after all, we do), but there are very few if any signs of that. Everyone’s gearing up for a very big fight because everyone else in their echo chamber is. The problem is, whatever happens, and whoever becomes president, the dividing lines will only become deeper and darker.

AG Bill Barr, along with the State Department and DOJ, and whoever else is involved, will release multiple reports from investigations conducted by US Attorney John Durham, DOJ IG Michael Horowitz and potentially others. The Dems and MSM viewpoint appears to be that is was fine to appoint a Special Counsel to investigate Trump’s links to Russia, but not Democrats’ links to, well, anyone at all.

And that is just not okay. I saw this very short clip of John Brennan saying: “I think I suspected there was more than there actually was.” And that’s supposed to atone for 3 years of incessant smearing? It’s ridiculous. Brennan is ridiculous.

And yeah, I know that’s Fox, and I know I’ve on occasion had to turn to right wing media for news because the MSM have closed ranks and ‘report’ only on one side of the story. Sue me for wanting actual news.

None of this negates the fact that we’re in for ever bitter fights, up to and including at the US Supreme Court, ever more, to decide who rules the country. Just like in Britain.

I don’t think this is what the Founding Fathers had in mind. At least, unlike Britain, they cared enough to write a Constitution. A lot of good that did.

 

 

 

 

Oct 042019
 


Paul Gauguin Breton woman 1886

 

Ignore The Hype — This Is Not An Impeachment Inquiry (McCarthy)
Trump Dares Pelosi To Hold Impeachment Inquiry Vote (ZH)
Joe Biden Sprang Into Action When Ukraine Prosecutor Came After His Son (MoA)
Trump Approval Climbs To Highest Level Of 2019 Amid Impeachment Inquiry (Hill)
Weakening The Dollar Is The Last Hope For The Global Economy – Saxo (CNBC)
Fed Policymakers ‘Open’ To Rate Cut As Risks To Outlook Rise (R.)
America’s Manufacturing Industry Is In Contraction (CNN)
Boris Has Destroyed What Is Left Of UK’s Credibility (Fintan O’Toole)
Hong Kong Leader Carrie Lam Invokes Emergency Powers, Bans Face Masks (CNBC)
UK Wildlife Species Dying Out, Many Will Soon Vanish (Ind.)

 

 

“What is portrayed as an “impeachment inquiry” is actually just a made-for-cable-TV political soap opera.”

Pelosi claims she can call a House impeachment inquiry without a House vote, and totally ignore Republican House members while she’s at it. That smells of prorogation.

The courts will have to decide this one. And that may take all the way to the 2020 election. Which the Dems think suits them just fine.

Ignore The Hype — This Is Not An Impeachment Inquiry (McCarthy)

There is no impeachment inquiry. There are no subpoenas. You are not to be faulted if you think a formal inquest is under way and that legal process has been issued. The misimpression is completely understandable if you have been taking in media coverage — in particular, reporting on a haughty Sept. 27 letter from House Democrats, presuming to direct Secretary of State Mike Pompeo, on pain of citation for obstruction, to cooperate in their demands to depose State Department officials and review various records. The letter is signed by not one but three committee chairmen. Remember your elementary math, though: Zero is still zero even when multiplied by three. What is portrayed as an “impeachment inquiry” is actually just a made-for-cable-TV political soap opera.

The House of Representatives is not conducting a formal impeachment inquiry. To the contrary, congressional Democrats are conducting the 2020 political campaign. The House has not voted as a body to authorize an impeachment inquiry. What we have are partisan theatrics, proceeding under the ipse dixit of Speaker Nancy Pelosi (D-Calif.). It raises the profile, but not the legitimacy, of the same “impeachment inquiry” House Judiciary Committee Chairman Jerrold Nadler (D-N.Y.) previously tried to abracadabra into being without a committee vote. Moreover, there are no subpoenas. As Secretary Pompeo observed in his fittingly tart response on Tuesday, what the committee chairmen issued was merely a letter.

Its huffing and puffing notwithstanding, the letter is nothing more than an informal request for voluntary cooperation. Legally, it has no compulsive power. If anything, it is rife with legal deficiencies. The Democrats, of course, hope you don’t notice that the House is not conducting a formal impeachment inquiry. They are using the guise of frenetic activity by several standing committees — Intelligence, Judiciary, Foreign Affairs, Oversight and Reform, Financial Services, and Ways and Means — whose normal oversight functions are being gussied up to look like serious impeachment business. But standing committees do have subpoena power, so why not use it? Well, because subpoenas get litigated in court when the people or agencies on the receiving end object. Democrats want to have an impeachment show — um, inquiry — on television; they do not want to defend its bona fides in court.

Read more …

“.. the White House is planning to send Nancy Pelosi a letter as soon as Friday arguing that President Trump and his team can ignore lawmakers’ demands until she holds a full House vote..”

Trump Dares Pelosi To Hold Impeachment Inquiry Vote (ZH)

Why do Republicans want a vote, besides have Democrats – especially those in states won by Trump – be put on the record? Because, as RealClearPolitics explains, holding a formal vote on impeachment would allow Republicans to subpoena documents and witnesses and investigate all the revelations surrounding the whistleblower’s complaint about Trump’s interactions with Ukraine, as well the roles of Joe Biden and his son Hunter in Ukrainian corruption allegations. “Republicans would have the opportunity to get information from all sources and get it on the table,” Cleta Mitchell, a conservative political law attorney, told RealClearPolitics. “The process they are proceeding under through their committee attorney means they are the only ones who have the rights to gather information.”

[..] Which brings us to late on Thursday, when Trump himself figured out that his position would be strengthened by having a formal vote, because according to Axios, the White House is planning to send Nancy Pelosi a letter as soon as Friday arguing that President Trump and his team can ignore lawmakers’ demands until she holds a full House vote formally approving an impeachment inquiry. In addition to the above considerations, Axios notes that by putting in writing the case that Trump and his supporters have been making verbally for days, “the White House is preparing for a court fight and arguing to the public that its resistance to Congress’ requests is justified.”

Trump wants to force House Democrats in vulnerable races to be on the record if they favor pursuing impeachment, these sources tell us. Republicans also say the minority party can exert more influence over hearings and other aspects of an inquiry once it is formalized with a vote. By calling this an inquiry without holding a vote, Pelosi and the Democratic committee chairmen are having it both ways, one official said. “They want to be a little bit pregnant.” A letter could be filed as soon as Friday, because according to Axios sources, several White House lawyers spent a good chunk of their Thursday reviewing the language in the letter, expecting that it could find its way before a judge.

Read more …

The MSM story that Shokin was corrupt seems to be falling apart. Biden’s defense for demanding him gone is that many voices said so. Yeah, the likes of Pyatt and Nuland, the architects of the Maidan coup.

Joe Biden Sprang Into Action When Ukraine Prosecutor Came After His Son (MoA)

After the U.S. sponsored Maidan coup in 2014 then Vice President Joe Biden led the Ukraine policy of the Obama administration. His campaign against prosecutor general Shokin started in September 2015: “[The U.S. ambassador at the time, Geoffrey] Pyatt kicked off the effort with a speech on Sept. 24, 2015 in which he blasted Shokin for “openly and aggressively undermining reform” and having “undermined prosecutors working on legitimate corruption cases.” In testimony to the Senate Foreign Relations Committee on Oct. 8, Nuland declared: “The Prosecutor General’s Office has to be reinvented as an institution that serves the citizens of Ukraine, rather than ripping them off.”


Biden followed up with a visit to Kiev in December. On Dec. 7, he held a news conference with Poroshenko and announced $190 million to “fight corruption in law enforcement and reform the justice sector.” He made no public mention of the loan guarantee, but behind the scenes he had explicitly linked the $1 billion loan guarantee to reform efforts, including removing Shokin, according to Colin Kahl, Biden’s national security adviser at the time. A day after the news conference, he addressed the Ukrainian parliament and decried the “cancer of corruption” in the country. “The Office of the General Prosecutor desperately needs reform,” he noted.

Biden next met on Jan. 20 with Poroshenko on the sidelines of the World Economic Forum in Davos, Switzerland, when he also pressed “the need to continue to move forward on Ukraine’s anti-corruption agenda,” according to a White House statement.

Read more …

Backdraft.

Trump Approval Climbs To Highest Level Of 2019 Amid Impeachment Inquiry (Hill)

President Trump’s approval ticked up to 49 percent – its highest mark this year, according to a new Hill-HarrisX survey released on Wednesday. The figure marks a 2-point increase from a Sept. 11-12 poll, but a 2-point decrease from its previous peak of 51 percent in August 2018. Trump’s disapproval rating, meanwhile, dropped to 51 percent, which marks his lowest level so far this year. The nationwide survey was conducted on Sept. 28 and 29, less than a week after House Democrats launched a formal impeachment inquiry into Trump over concerns raised in a whistleblower’s complaint about the president’s communications with Ukraine.


House Democrats threatened Wednesday morning to subpoena the White House for documents related to Trump’s dealings with Ukraine as part of their impeachment inquiry. House Oversight Committee Chairman Elijah Cummings (D-Md.) said in a memo that House committees have repeatedly tried to obtain voluntary compliance from Trump officials, but the White House has “refused to engage with – or even respond to – the Committees.” Speaker Nancy Pelosi (D-Calif.) and House Intelligence Committee Chairman Adam Schiff (D-Calif.) held a joint news conference later that morning, warning that attempts by the White House to “stonewall” the impeachment inquiry and “conceal facts” would be considered an obstruction of justice.

Read more …

Wait, isn’t that what Trump is after?

Weakening The Dollar Is The Last Hope For The Global Economy – Saxo (CNBC)

Weakening the dollar is the last throw of the dice in rescuing the global economy, according to Saxo Bank’s Steen Jakobsen. In the online trading and investment specialist’s outlook report for the fourth quarter, published Thursday, Jakobsen said 2019 will most likely be remembered as the year that kickstarted a global recession, despite the lowest ever nominal and real interest rates. “Monetary policy has reached the end of a very long road and has proven a failure,” Jakobsen, who is the chief economist and CIO at Saxo Bank, added. The U.S. Federal Reserve in September made a second 25 basis point cut to interest rates, moving to a range of 1.75% to 2%. Its initial 25 basis point reduction in July was the central bank’s first rate cut since the financial crisis.

The European Central Bank (ECB), meanwhile, recently unveiled a package of measures to reinvigorate the euro zone economy, cutting its deposit rate by 10 basis points to -0.5% and launching a massive new quantitative easing (QE) program. A host of other central banks across the world have also embarked on dovish policy shifts. Fears for the global economy have been exacerbated of late by the weakest manufacturing data out of the U.S. for over a decade, which compounded already fragile readings from across the euro zone and beyond. “In a global system of failed monetary policies and a long and difficult path to fiscal policy, there is only one other tool left in the box for the global economy and that is lower the price of global money itself: the U.S. dollar,” Jakobsen said.

The outlook report pointed to an estimated $240 trillion of debt worldwide, roughly 240% of global GDP, and argued that too much of this debt is denominated in dollars, due to the greenback’s role as global reserve currency and the deep liquidity of U.S. capital markets. This means the prospects for all asset classes have become a function of U.S. dollar liquidity and direction, Saxo Bank economists suggested. “If the dollar rises too much, the strain in the system increases: not only for U.S. exports, but also for the emerging market with its high dependence on USD funding and export machines,” Jakobsen said.

Read more …

End the Fed.

Fed Policymakers ‘Open’ To Rate Cut As Risks To Outlook Rise (R.)

Two Fed policymakers on Thursday signaled they are open to delivering another rate cut after a report showed the growth in the vast U.S. services sector is slowing, but the Fed’s No. 2, speaking late in the day, gave little away on his own thinking. The Fed “will act as appropriate to sustain a low unemployment rate and solid growth and stable inflation,” Fed Vice Chairman Richard Clarida said in New York, repeating a phrase Fed Chair Jerome Powell has used ahead of meetings when the Fed did cut rates, as well as in June, when it didn’t. The U.S. consumer and economy are in a “good place,” and the U.S. labor market is “very healthy,” Clarida said. At the same time, risks include slowing global growth, uncertainty over trade, and persistent low inflation overseas, all of which impact the U.S. economy.


“We have eight meetings a year, we take them one at a time. We are not on a preset course,” he said. Clarida’s circumspect comments came at the end of a day where traders bid up expectations of two more Fed rate cuts this year after the Institute for Supply Management (ISM)’s non-manufacturing activity index dropped to its lowest reading since August 2016. Separate data earlier in the week showed an index of U.S. factory activity contracting to its lowest level in more than a decade. The reports may signal that a slide in exports, business sentiment and business investment is spreading to the consumer, whose spending accounts for the bulk of the $20 trillion U.S. economy.

Read more …

Gee, that’s surprising. Service economy, right?

America’s Manufacturing Industry Is In Contraction (CNN)

America’s manufacturing industry is in contraction. Business spending is soft. And now the biggest chunk of the economy, the US service sector, is growing at its weakest pace in three years. Recession fears were reinforced on Thursday after the Institute for Supply Management said its non-manufacturing index dropped to 52.6 last month, down from 56.4 in August. This barometer of growth among service providers such as banks, restaurants and hotels is now at the lowest level since August 2016. Businesses expressed concern about tariffs, a shortage of workers and the direction of the economy, ISM said.


Although the service sector is still expanding, the gloomy report raises concern that America’s manufacturing troubles are spilling over into the broader economy. Slammed by the trade war, US manufacturing activity dropped deeper into contraction in September, the most sluggish month for factories since June 2009. “The weakness in manufacturing has now infected the services side of the US economy,” Peter Boockvar, chief investment officer at Bleakely Advisory Group, wrote in a note to clients on Thursday.

Read more …

The EU is talking about unilaterally declaring a Brexit extension.

Boris Has Destroyed What Is Left Of UK’s Credibility (Fintan O’Toole)

When Boris Johnson described his long-awaited proposals for changes to the Brexit withdrawal treaty as a compromise, he was not wrong. Two questions arise, however. What is being compromised? And who is Johnson compromising with? The answer to the second is obvious: the proposals are a compromise, not with the EU, but with the DUP. And what is being compromised is the credibility of the UK as a partner in any international negotiations. Though the EU and the Irish government are too polite to say so directly, Johnson’s plan destroys any remaining sense that the current regime in London is capable of sticking even to its own self-declared principles.

Ever since its victory in the referendum of June 2016, the Brexit project has been dogged by its inability to transcend its own origins. The referendum was always driven by the internal politics of the Conservative Party. Its purpose, from the point of view of the man who called it, David Cameron, was to silence the increasingly turbulent anti-EU faction in his own party and see off the threat of Nigel Farage. And it has never been able to move on from being an internal negotiation to being an external one. The only thing that has really changed is that “internal” Tory politics came, after the 2017 election, to include the DUP.

And so here we are again. Political compromise is about two sides with different agendas meeting each other half way. It is easy to see why Johnson might be sincere in thinking he has achieved this – but only if the two sides are Johnson himself with his need to look like he is coming up with some vaguely credible alternative to the backstop and the DUP with its “blood red line” of Northern Ireland leaving the EU on exactly the same terms as the rest of the UK.

Read more …

A 1922 law, right? Nothing much changed in the territory since then?

Hong Kong Leader Carrie Lam Invokes Emergency Powers, Bans Face Masks (CNBC)

Hong Kong leader Carrie Lam on Friday invoked emergency powers and banned face masks, saying the order goes into effect on Saturday, Oct. 5. Consequences for breaking the ban include up to one year in jail and a fine of $25,000 Hong Kong dollars ($3,187). In a press conference, Lam explained that the face mask ban was necessary because “almost all protesters who carry out vandalism and violence covered their face.” “The purpose was to hide their identity and evade the law and they have become more and more daring,” Lam said. She noted, however, that the mask ban contains certain exemptions “to cater for legitimate needs.”


Face masks have become ubiquitous in the city after the 2003 SARS outbreak. The disease killed 298 people in Hong Kong, according to World Health Organization data. Hong Kong’s parliamentary body, the Legislative Council, will discuss the legislation on Oct. 16 when it resumes session, Lam said. The Hong Kong leader said the decision was made after she called a special meeting of the Executive Council, which decided to invoke the Emergency Regulations Ordinance. Lam explained that the government believes the regulation will have a “deterrent effect” against violent behavior and help police officers carry out their duties. Under the 1922 law, the chief executive is allowed to “make any regulations whatsoever which he may consider desirable in the public interest.”

Read more …

Study since 1970. But more of the damage had already been done before that.

UK Wildlife Species Dying Out, Many Will Soon Vanish (Ind.)

The UK’s wildlife is dying out and many species will go extinct if urgent action is not taken, according to the latest State of Nature report, which draws on scientific monitoring since the 1970s. Leading professionals from more than 70 wildlife organisations have joined government agencies to create the comprehensive report, which warns wildlife declines continue “unabated”. Among thousands of mammal and plant species assessed, 15 per cent are threatened with being lost from Britain, including wildcats and greater mouse-eared bats. More than two-fifths of UK species including animals, birds and butterflies have seen significant declines in recent decades, the study found.


Since 1500 around 133 species have already vanished from Britain’s shores, including birds such as the wryneck and serin, which were lost as breeding birds in the 20th century. Dr Daniel Hayhow, lead author on the report and conservation scientist at RSPB, said: “We know more about the UK’s wildlife than any other country on the planet, and what it is telling us should make us sit up and listen. “We need to respond more urgently across the board if we are to put nature back where it belongs.” Data on nearly 700 species of land, freshwater and sea animals, fish, birds, butterflies and moths reveals 41 per cent have seen populations decline since 1970, while 26 per cent have increased.

Read more …

 

 

 

 

 

Oct 022019
 
 October 2, 2019  Posted by at 9:14 am Finance Tagged with: , , , , , , , , , ,  10 Responses »


Pablo Picasso Self portrait 1919

 

Trump-Zelensky-Ukraine: What Is Really Going On Here? (OffG)
Kiev Agrees To EU-Backed Roadmap Aimed At Peace In Eastern Ukraine (RT)
Final Proposal: UK PM Johnson To Unveil Brexit Offer To EU (R.)
US House Committees Seek To Hold Line On Pompeo In Impeachment Probe (R.)
Barr Investigating The Investigators Of Russian Meddling (R.)
Japan Raises National Sales Tax Despite Recession Worries (AP)
US Gross National Debt Up $1.2 Trillion in Fiscal 2019 to $22.7 Trillion (WS)
Major US Investors Have Billions At Risk In Chinese Stocks (R.)
Zuckerberg Says Warren As US President Would Be Bad For Tech (R.)
Institutional Libra Backers Are Getting Cold Feet (CD)

 

 

Interesting take. It’s all about Russia.

Trump-Zelensky-Ukraine: What Is Really Going On Here? (OffG)

Let’s start with the foreign policy goals. Both Trump and Zelensky are operating in highly constrained and threatening foreign policy environments at home. At the time of their phonecall, Trump still had the warmonger Bolton to deal with inside the house: and even now he is still under the watchful scrutiny of the Russophobe imperial state figure of his Secretary of State Pompeo, closely though undeclaredly linked to the Washington imperial party on Ukraine-Russia as on other East-West issues. Zelensky is similarly constrained and threatened in Kiev by the anti-Russian fanaticism that has been indoctrinated in large sections of the Ukrainian population by decades of nationalist, often neo-Nazi, Russophobe propaganda.

It is a tribute to the instinctive good sense of the Ukrainian electorate that Zelensky was able to defeat in the polls the discredited NATO stooge Poroshenko so comprehensively and decisively. The maturity of this vote gives me renewed hope for Ukraine. But there is a long way to go still towards political normalisation and economic recovery there. Zelensky is smart enough to see that his country must achieve a normalisation of relations with Russia, but knows that he cannot yet say this openly. Putin wants this also, very much. But both men know it will take a very long time after the accumulated bitter grievances on both sides over recent decades, and especially since the lethal and destructive civil war on Eastern Ukraine that was begun by Poroshenko in April 2014 – no doubt on American advice.

This war has had terrible human consequences: loss of life, wounded and disabled casualties, destroyed communities, massive forced refugee outflows. Neither side can get over this easily or quickly. The reciprocal prisoner release on 7 September was an essential symbolic action. Putin’s release of the navy crews who took part in the provocative and foolish Ukrainian raid on the Kerch Strait bridge a year ago was a key part of building Ukrainian confidence and trust in Zelensky’s leadership. Russophobes in the West are in consternation at new green shots of possible hope for progress towards Kiev-Moscow normalisation under the Normandy diplomacy format.

[..] As I interpret the Trump-Zelensky conversation, both leaders were cautiously but in a friendly way exploring the boundaries of what might be possible for each of them as presidents to revisit the troubled history of the past few years. I see nothing dishonourable or intimidating in this conversation. Trump critics are reading into it only what they want to read.

Read more …

Zelensky ran on promoting peace. But it puts him in danger.

Kiev Agrees To EU-Backed Roadmap Aimed At Peace In Eastern Ukraine (RT)

The government in Kiev has agreed to the so-called ‘Steinmeier Formula,’ the process for Ukraine’s breakaway eastern regions to receive autonomy, which is expected to revitalize the stalled peace process. Named after Frank-Walter Steinmeier, the German foreign minister who suggested it back in 2015, it’s an addition to the second Minsk agreement that explains exactly how elections must be held in eastern regions of Ukraine in order to end the bloodshed and reintegrate the breakaway Republics of Donetsk and Lugansk. According to the formula, the “special status” – i.e. autonomy – law must enter into force temporarily on election day and become a permanent one after the Organization for Security and Cooperation in Europe (OSCE) deems the elections legitimate.

All members of the three-side contact group – Russia, Ukraine and the OSCE – as well as the ones from the self-proclaimed republics, agreed to the ‘Steinmeier Formula’ on Tuesday, sending letters of agreement to the OSCE special representative in Ukraine, Martin Sajdik. The official confirmed to Interfax that no joint document was signed and “the signatories have been put under separate letters.” It was not immediately clear to what extent the ‘Formula’ has become legally binding, given this quite unusual way of approval. Explaining the move, Ukraine’s President Volodymyr Zelensky said that the ‘Formula’ will be implemented into the new “special status” law – which is yet to be designed and approved by lawmakers at by the Ukrainian Rada. He also insisted that Kiev should control the border with Russia in the East.

The sides had been expected to sign ‘the formula’ a few week ago, but the negotiations fell through because Ukraine disagreed with some points. While the approval is regarded as a positive sing in peace process by politicians, it was met with a very angry reaction by Ukrainian neo-Nazis and pro-war groups. Shortly after the announcement, a protest dubbed ‘No to capitulation’, was staged outside his office. The protesters waved flags of far-right groups, shouted slogans and brandished flares, demonstrating their dissatisfaction with any attempts by the Kiev authorities to somehow settle the conflict in the east of the country. A similar reaction was voiced by the former president of Ukraine, Petro Poroshenko. He branded the ‘Steinmeier Formula’ a “Putin formula,” claiming that agreeing to it paves the way for deconstruction of Ukraine as a sovereign state.

Read more …

He knows there’s no chance it will be accepted. But he’s been told by Parliament to get a deal or ask for an extension.

Final Proposal: UK PM Johnson To Unveil Brexit Offer To EU (R.)

Prime Minister Boris Johnson will on Wednesday unveil his final Brexit offer to the European Union and make clear that if Brussels does not engage with the proposal, Britain will not negotiate further and will leave on Oct. 31. In his closing speech to his governing Conservatives’ annual conference, Johnson will stick to his hard line on Brexit, offering the party faithful the first details of what he will describe as his “fair and reasonable compromise”. With less than a month until Britain is due to leave the EU, the future of Brexit, the country’s biggest trade and foreign policy shift in more than 40 years, is uncertain. Britain could leave with a deal, without one or not exit at all.

Johnson, who says Britain will leave the bloc on Oct. 31 no matter what, will tell the conference he will send his proposal to Brussels, an attempt to secure a deal to smooth the country’s departure and avoid a potentially damaging no-deal Brexit. “My friends, I am afraid that after three-and-a-half years people are beginning to feel that they are being taken for fools. They are beginning to suspect that there are forces in this country that simply don’t want Brexit delivered at all,” he will say, according to extracts released by his office. “Let’s get Brexit done on October 31 so in 2020 our country can move on.” More than three years after Britain voted to leave the EU in a 2016 referendum, Brexit talks are at an impasse.

Johnson has been firm that the Oct. 31 deadline will be met, but parliament has put roadblocks in his way – passing a law that requires the prime minister to request a Brexit delay if he fails to secure an acceptable deal at an EU summit on Oct. 17. The EU has repeatedly asked Britain to come up with “legal and operational” proposals for the changes Johnson wants to a deal his predecessor negotiated with the bloc last year.

Read more …

Head butting.

US House Committees Seek To Hold Line On Pompeo In Impeachment Probe (R.)

The leaders of three U.S. House of Representatives committees accused Secretary of State Mike Pompeo of intimidating witnesses on Tuesday, and said doing so is illegal and “will constitute evidence of obstruction.” Pompeo earlier on Tuesday sternly objected to the committees’ efforts to obtain depositions from five current and former State Department officials, as the Democratic-led House looks into President Donald Trump’s request to Ukraine’s president to investigate a domestic political rival, Democratic presidential candidate Joe Biden.


Representatives Eliot Engel, chairman of the House Foreign Affairs Committee; Adam Schiff, chairman of the Intelligence Committee, and Elijah Cummings, chairman of the Oversight Committee, made their comments on Pompeo in a statement issued in response to Pompeo’s position. The three Democratic chairmen said Pompeo would be “a fact witness” in the House impeachment inquiry if reports are true that he was on the July call when Trump spoke to Ukrainian President Volodymyr Zelenskiy. “Any effort to intimidate witnesses or prevent them from talking with Congress — including State Department employees — is illegal and will constitute evidence of obstruction of the impeachment inquiry,” the statement said.

Read more …

Three investigations about to be published.

Barr Investigating The Investigators Of Russian Meddling (R.)

Barr’s inquiry concerns the origins of an investigation by the Federal Bureau of Investigation into possible ties between the Trump campaign and Russia, which was ultimately taken over by Mueller. Mueller concluded that Trump’s campaign had extensive contacts with Russians who mounted a sweeping effort to influence the outcome of the election in which Republican Trump was the surprise winner against Democrat Hillary Clinton. Mueller also revealed numerous attempts by Trump to interfere with his investigation, but did not conclude whether or not Trump should be charged with obstruction of justice. Barr and Deputy Attorney General Rod Rosenstein subsequently decided not to bring criminal charges.

Trump blasted the Mueller investigation as a politically motivated “witch hunt”, and Trump’s allies have questioned whether U.S. intelligence and law-enforcement agencies should have launched the investigation in the first place. U.S. intelligence and law enforcement agencies began examining possible communications between Trump advisers and Russia in July 2016, when the Australian government alerted U.S. officials that a Trump foreign policy adviser, George Papadopoulos, had boasted to an Australian diplomat that the Russian government had material that could be damaging to Clinton. Several months later, the FBI secured a court order to monitor Carter Page, a Trump adviser who had traveled to Russia.

[..] Durham’s probe is “broad in scope and multifaceted,” examining the activity of U.S. and foreign-government intelligence services, as well as non-governmental organizations and individuals, Assistant Attorney General Stephen Boyd told Congress in June. As part of that effort, Trump has asked foreign leaders to introduce Barr and Durham to relevant officials in their countries, Justice Department spokeswoman Kerri Kupec said on Monday.

[..] The Justice Department’s internal watchdog, Inspector General Michael Horowitz, has completed a separate investigation. It is going through the process of removing classified information before it is released to the public. That probe, launched in 2018, focuses on whether the FBI followed proper procedures when it asked the Foreign Intelligence Surveillance Court for permission to monitor Page, the Trump adviser, in 2016. Separately, former Attorney General Jeff Sessions in 2017 assigned Utah’s top federal prosecutor, John Huber, to review a wide range of issues that Republicans had complained about, including the FBI’s conduct during investigations related to Clinton. Huber has ceded some portions of his probe to Durham and he is waiting for Horowitz to finish his review.

Read more …

Abenomics 2.0.

Japan Raises National Sales Tax Despite Recession Worries (AP)

Japan’s national sales tax was raised to 10% from 8% on Tuesday, amid concerns that the long-delayed move could derail the fragile growth path of the world’s third largest economy. Government officials say ample measures have been taken to minimize the impact of the hike, which took effect Tuesday. Previous tax increases, a 2-point increase to 5% in 1997 and another to 8% in 2014, brought on recessions. Prime Minister Shinzo Abe postponed this hike twice but said it was unavoidable given rising costs for elder care and a growing national debt as the population ages and shrinks. After decades of fiscal deficits that have taken the debt to more than twice the size of the economy, Abe has promised a return to balance by 2025, but that will require the economy to continue expanding at a healthy pace.


The economy expanded at an annual pace of 1.8 percent in April-June, faster than anticipated. But slowing exports and rising prices for oil are expected to drag growth lower in coming months. The increase covers most goods and services from clothes, electronics to transportation and medical fees, but the government has sought to soften its impact with tax breaks for home and car purchases. It also kept the tax for groceries unchanged for low-income households and is providing free pre-school education to families.

Read more …

“.. the longest expansion of the economy in US history..”

US Gross National Debt Up $1.2 Trillion in Fiscal 2019 to $22.7 Trillion (WS)

The US gross national debt jumped by $110 billion on the last two business days of Fiscal Year 2019, and by a breath-taking $1.2 trillion during the entire fiscal year, after having already jumped by $1.27 trillion in Fiscal 2018, the Treasury Department reported today. This ballooned the US gross national debt to a vertigo-inducing $22.72 trillion. These beautiful trillions whipping by are a joy to behold: so much action in so little time. The flat spots in the chart below are the results of the debt-ceiling charade in Congress. When the debt ceiling is lifted, the debt spikes back to trend, and nothing changed:

During Fiscal 2019, the gross national debt increased by 5.6% and now amounts to 106.5% of current-dollar GDP, up from 105.4% at the end of Fiscal 2018. The thing to remember here is that this isn’t the Great Recession or the Financial Crisis, when over 10 million people lost their jobs and credit froze up and companies went bankrupt and tax revenues plunged while outlays soared to pay for unemployment insurance and the like. This isn’t even the Collapse of Everything, but the longest expansion of the economy in US history. Over the last four quarters, the US economy as measured by nominal GDP (not adjusted for inflation) grew by 4.0%. Over the same period, the US gross national debt grew by 5.6% (not adjusted for inflation).

Read more …

Christopher Balding: “Why do none of these reports note that Chinese firms listed in the US are not currently required to abide by US accounting and auditing standards and the SEC cannot review them?”

Major US Investors Have Billions At Risk In Chinese Stocks (R.)

Major U.S. fund managers have tens of billion of dollars at stake in some of the most popular Chinese stocks on Wall Street, exposing them to potential losses should the White House move to delist Chinese firms from U.S. exchanges. White House trade adviser Peter Navarro on Monday dismissed reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges as “fake news,” helping Chinese stocks including JD.com and Alibaba Group Holding recover some of their declines from Friday after the reports emerged.

As Navarro’s comments reduced investor fears, the S&P/BNY Mellon China Select ADR index rose 1.1% after tumbling more than 3% on Friday. Still, the possibility of a future U.S. move to boot Chinese companies out of U.S. markets remains a topic of concern for investors. “The proposed measures would completely undermine the international ADR/GDR etc. market and would harm the US’s role as a conduit for international capital,” Jefferies equity strategist Sean Darby wrote in a client note. Leading U.S. investors across Chinese companies listed on U.S. exchanges include Blackrock, T. Rowe Price Associates and the Vanguard Group, with over $40 billion invested, according to Refinitiv data, based on fund filings.

Read more …

Or for him?!

Zuckerberg Says Warren As US President Would Be Bad For Tech (R.)

Facebook Inc Chief Executive Officer Mark Zuckerberg told employees in July that the company would “go to the mat” to defeat Democratic candidate Elizabeth Warren’s expected effort to break up the world’s largest social media company if she were elected president, according to audio of two internal company meetings published by The Verge. “If she (Warren) gets elected president, then I would bet that we will have a legal challenge and I would bet that we will win the legal challenge. And does that still suck for us? Yeah. I mean, I don’t want to have a major lawsuit against our own government,” he said, according to the leaked audio. Warren, who in March called for breaking up Amazon.com Inc, Facebook Inc and Alphabet Inc, quickly issued a retort on Twitter.


“What would really ‘suck’ is if we don’t fix a corrupt system that lets giant companies like Facebook engage in illegal anticompetitive practices, stomp on consumer privacy rights,” Warren tweeted. In a later series of tweets, Warren noted that Facebook has built more market dominance in recent years by acquiring potential competitors WhatsApp and Instagram. “More than 85% of all social networking traffic goes through sites owned or operated by Facebook,” she wrote. “They’ve got a lot of power—and face little competition or accountability. “They’ve bulldozed competition, used our private information for profit, undermined our democracy, and tilted the playing field against everyone else.”

Read more …

A step too far. And then be broken up too?!

Institutional Libra Backers Are Getting Cold Feet (CD)

Major Libra backers Visa and Mastercard are second-guessing their participation in the Facebook-led digital payments project, the Wall Street Journal reported Tuesday. Against a global regulatory blasting of the proposed cryptocurrency, the financial services pair and unnamed other companies are balking at Facebook’s call for a unified front. The Journal says that few want to boost the project publicly – leaving Facebook to defend Libra by itself. Libra has been a favorite target of world financial regulators since its announcement in June. European Central Bank members said it could destabilize the euro; China’s crypto czar called it potentially “unstoppable;” and U.S. Congressional Representatives have called for an outright freeze on its development. Now members of the Libra Association will meet on Thursday in Washington, D.C. It was not immediately clear what the meeting will be about; the members are scheduled to discuss Libra’s charter in mid-October.

Read more …

 

Intruiging. Major cities and towns in North America replaced by major cities across the Atlantic by latitude. Montreal=Milan. New York=Naples. Land climate vs sea climate.

 

 

 

 

 

Sep 302019
 


Rembrandt van Rijn Self-portrait 1629

 

Snapback To Higher Bond Yields? At Least Five Years, Strategists Say (R.)
Why The US “Decoupling” Miracle Ends In 72 Hours (ZH)
Trump Demands To Meet Whistleblower, Warns Of ‘Big Consequences’ (Hill)
The Ukraine Boomerang (Brian Cates)
Congressional Democrats Have No Credibility On Impeachment (Fed.)
Saudi Prince Says War With Iran Would Gut World Economy (AFP)
Russia Rolls Out The Red Carpet For Huawei Over 5G (AFP)
China Aims To Shut 8.7 GW Of Coal Power By Year-End (R.)
Record US Tariff Award Over Airbus Aid Could Fuel Trade Tensions (R.)
FBI Expands Investigation Into Prince Andrew’s Ties To Jeffrey Epstein (GP)
To Pay Attention, the Brain Uses Filters, Not a Spotlight (QM)

 

 

Brilliant. Hidden in paragraph umpteen: ”Bond strategists have not only been wrong-footed for several years in predicting significantly higher yields, which have not materialized, their predictions last year for where major government bond yields would be at now were also well off the mark.” So what do you do? You poll these people who are always wrong, and write a piece.

The reality is, yields and rates are both stuck at the bottom, unless and until there’s a revolt. It’s out of central bankers’ hands.

Snapback To Higher Bond Yields? At Least Five Years, Strategists Say (R.)

A return to significantly higher yields will take longer than previously thought, according to a Reuters poll of fixed-income strategists who slashed their year-ahead major government bond yield forecasts to the lowest since polling began 17 years ago. With no resolution in sight to the U.S.-China trade war, the current modest global economic expansion cycle has taken a hit, prompting major central banks to shift to policy easing this year from a tightening view at the turn of last year. That has not only pushed benchmark sovereign bonds yields to new lows this year, but has also resulted in over $17 trillion – a record amount – of debt securities pushed into the negative yields territory.

And according to the Sept. 19-27 poll of over 100 strategists, that trend of subdued yields is here to stay. About 70% of strategists who answered an additional question said the era of low interest rates and sovereign bond yields will last at least another five years, compared to two years predicted just three months ago. Roughly the same proportion of respondents also said the risk to major sovereign bond yields are tilted toward further declines rather than rises for the remainder of this year. “It is very difficult to imagine a situation where you get a significant upward move in yields. There is clearly a political element at work and then there is policy easing from central banks, which together are anchoring yields lower,” said Beata Caranci, chief economist at TD Bank, referring to the U.S.-China trade war.


“While you can certainly get the risk premium priced-out on the political side, the economic and international side will continue to weigh.” Bond strategists have not only been wrong-footed for several years in predicting significantly higher yields, which have not materialized, their predictions last year for where major government bond yields would be at now were also well off the mark.

Read more …

“In the final month of the fiscal year, federal agencies scramble to spend what’s left in their annual budget.”

Why The US “Decoupling” Miracle Ends In 72 Hours (ZH)

The last few weeks have seen a dramatic surge in US macro data surprises (to the upside), dramatically diverging from the rest of the world (and almost single-handedly improving the global data)… This sudden surge, however, is not a total surprise as we have noted the seasonal patterns in US economic data previously. So why does this pattern exist – and why is it particularly strong in recent weeks? Simple – as OpenTheBooks.com details – it is a reflection of the Federal Government’s “Use-It-Or-Lose-It” Spending Spree…

In the final month of the fiscal year, federal agencies scramble to spend what’s left in their annual budget. Agencies worry spending less than their budget allows might prompt Congress to appropriate less money in the next fiscal year. To avoid this, federal agencies choose to embark on an annual shopping spree rather than admit they can operate on less. This is the “use-it-or-lose-it” spending phenomenon, and it happens every year.

And that surge in spending coincides with this sudden ‘surprise’ burst to the upside. For some context from last year: In the final week of the fiscal year, federal agencies signed nearly 10 percent of all fiscal year 2018 contracts. Between 2015 and 2018, federal spending during the final month of the fiscal year increased by 39 percent. From 2017 to 2018, September spending increased by 16 percent. Contract spending in September 2018 totaled nearly $97 billion. In the final seven days of fiscal year 2018, federal agencies spent $53.3 billion – more than they spent in the entire month of August 2018 ($47 billion). The federal government spent $544 billion on all fiscal year 2018 contracts, but nearly 18 percent of these contracts were purchased in the final month of the fiscal year.

Read more …

The guy/gal is no whistleblower, but it’s too late to correct that. But still, Trump should demand to meet the people who fed him/her the info.

Trump Demands To Meet Whistleblower, Warns Of ‘Big Consequences’ (Hill)

President Trump on Sunday evening called for the outing of a whistleblower and railed against other individuals, including Rep. Adam Schiff (D-Calif.), at the center of a growing scandal involving his phone call with Ukraine’s president, warning there could be “Big Consequences.” “Like every American, I deserve to meet my accuser, especially when this accuser, the so-called ‘Whistleblower,’ represented a perfect conversation with a foreign leader in a totally inaccurate and fraudulent way. Then Schiff made up what I actually said by lying to Congress,” Trump said in a series of tweets.


“His lies were made in perhaps the most blatant and sinister manner ever seen in the great Chamber,” he continued before adding that he wants Schiff, the chairman of the House Intelligence Committee, “questioned at the highest level for Fraud & Treason.” “In addition,” he added, “I want to meet not only my accuser, who presented SECOND & THIRD HAND INFORMATION, but also the person who illegally gave this information, which was largely incorrect, to the ‘Whistleblower.’ Was this person SPYING on the U.S. President? Big Consequences!”

Read more …

“It is being reported that Rep. Adam Schiff (D-Calif.) had the information from this so-called “whistleblower” complaint back in August and he held it back while dropping vague, ominous hints.”

The Ukraine Boomerang (Brian Cates)

It now seems Democrats think they have at last found a real scandal they can use to move forward with impeachment hearings in the House. The new fake Trump scandal rolled out last weekend by the Democrats involves a phone call held on July 25 between President Trump and the newly installed President of Ukraine, Volodymyr Zelensky. An anonymous government official, described inaccurately as a ‘whistleblower,’ made an official complaint to the Intelligence Community’s Inspector General’s Office about some of the things Trump supposedly said during this call. According to the complaint that was filed, Trump tried to strong-arm Zelensky into agreeing to investigate former Vice President Joe Biden and his son, Hunter Biden. Biden is currently the frontrunner and favorite to win the Democratic nomination to run against Trump next year.

To pressure Zelensky into agreeing to investigate the Bidens, the anonymous leaker claimed Trump threatened to withhold military aid that had already been approved to Ukraine. So if true, this would indeed be a huge scandal, if a sitting President tried to coerce a foreign government into investigating or manufacturing a criminal probe of his political opposition. It is being reported that Rep. Adam Schiff (D-Calif.) had the information from this so-called “whistleblower” complaint back in August and he held it back while dropping vague, ominous hints. The same players in the Russiagate hoax were trying to launch a Ukrainian hoax using the exact same strategy: vague leaks based on anonymous sources so story after story could be rolled out in the fake news media alleging Trump crimes.


Only this strategy was instantly blown up this time, and in quite a savage fashion by this president. Trump now has his people in place and all the evidence has been collected. He didn’t need to wait to completely blow up this new Ukrainian narrative. This tells me Trump had his own counter-narrative all ready and waiting to launch whenever the Democrats and their DNC Media Complex allies tried this futile Ukrainian gambit.

Read more …

Congress ignores its own vulnerability.

Congressional Democrats Have No Credibility On Impeachment (Fed.)

For an impeachment, the importance of public trust in our political institutions can’t be overstated. Generally speaking, the American polity can only afford impeachment when social cohesion and trust in public institutions is high. Congress has only initiated impeachment inquiries three times in U.S. history, and under circumstances far different than what we’re dealing with now. The two impeachment inquiries of the modern era, which resulted in very different outcomes, took place when the American people had far greater confidence in Congress.

In 1974, the same year Congress opened an impeachment inquiry against President Richard Nixon, Gallup began asking Americans about their approval or disapproval of Congress (a question asked of presidents beginning in the 1930s). That year, Congress received an average approval rating of 32 percent. By April of 1975, some eight months after Nixon resigned from office following the approval of three articles of impeachment against him, it was nearly 40 percent. In October 1998, when the Republican-controlled U.S. House of Representatives voted to commence impeachment proceedings against President Bill Clinton, Congress had a 47 percent approval rating. By the time the Senate trial began in January 1999, Congress’s approval rating had risen to 50 percent. Even after Clinton was acquitted, Congress maintained better than 40 percent approval.


Today, congressional approval is less than half that: a recent Economist/YouGov poll found job approval of Congress at just 14 percent. And of course it’s not just Congress. We’re living through a period when public confidence in all our institutions has collapsed, including organized religion, labor, big business, public schools, and the news media. Only 17 percent of Americans now say they can trust the government, compared to three-quarters when the question was first asked in 1958. In such an environment, congressional Democrats and the mainstream media should be at pains to prove their trustworthiness. But they’re doing just the opposite.

Read more …

Merely an attempt to provide him with a podium on which to deny he killed Khashoggi. You can feel the spin doctors.

Saudi Prince Says War With Iran Would Gut World Economy (AFP)

Saudi Arabia’s crown prince said in an interview aired Sunday that war with Iran would devastate the global economy and he prefers a non-military solution to tensions with his regional rival. “If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” Prince Mohammed bin Salman told the CBS program “60 Minutes.” “Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,” the prince said. The prince said a war between Saudi Arabia and Iran would be catastrophic for the world economy.


“The region represents about 30 percent of the world’s energy supplies, about 20 percent of global trade passages, about four percent of the world GDP. Imagine all of these three things stop,” he said. “This means a total collapse of the global economy, and not just Saudi Arabia or the Middle East countries.”

Read more …

Putin trolling?!

Russia Rolls Out The Red Carpet For Huawei Over 5G (AFP)

While the US banned Huawei for alleged espionage and asked its allies to do the same, Moscow has rolled out the red carpet for the Chinese tech company, letting it develop 5G networks in Russia. Analysts say the move is as much a show of solidarity with Beijing against the US as it is a drive to bring ultra high-speed internet to Russian tech users. This month, Huawei opened its first 5G test zone in Moscow in partnership Russian operator MTS, with a view to rolling out the service to the rest of the capital. Moscow authorities say the network will become part of the city’s normal infrastructure within the next few years.


A pioneer in telecoms networks compared to many Western countries, Russia plans to deploy 5G in all of its main cities by 2024. When Chinese President Xi Jinping visited Russia in June — at the height of Washington’s conflict with Huawei — Russia’s main operator MTS signed a contract with the Chinese company. At the inauguration of the 5G zone in Moscow, the CEO of Russia’s branch of Huawei Zhao Lei praised the company’s activities in the country. “We have been working in Russia for 22 years. Thanks to our partners, we live well here,” he said. He added that Huawei, considered a world leader in 5G technology, plans to “lead in the development of 6G” in the future.

Read more …

Which is less than 1% of capacity, while planning calls for a 30% increase in that same capacity.

China Aims To Shut 8.7 GW Of Coal Power By Year-End (R.)

China will aim to shut a total of 8.66 gigawatts (GW) of obsolete coal-fired power capacity by the end of this year, its energy regulator said, part of its efforts to curb smog and greenhouse gas emissions. The National Energy Administration didn’t say how much of the target, equal to just under 1 percent of total capacity, had already been met. All provinces and regions have been ordered to shut coal-fired power units with a capacity of less than 50,000 kilowatts (kW), the regulator said on its website on Sunday. Larger units of up to 100,000 kW in regions covered by large-scale power grids will also be eliminated, along with those that have reached the end of their designed service period, it said.


Central China’s Henan province, one of the country’s most polluted regions, is under pressure to shut 1.6 GW this year, while southeastern Guangdong province near Hong Kong will shut 2.3 GW. China has promised to ease its dependence on coal, and it has also forced most of its coal-fired power plants to install ultra-low emissions technology in a bid to curb smog. But while China has cut the share of coal in its total energy mix from 68% in 2012 to 59% last year, overall consumption has continued to increase and environmental groups estimate that it still has more than 200 GW of new coal-fired capacity in the pipeline. The China Electricity Council, which represents the country’s power industry, predicts that total coal-fired capacity could eventually peak at 1,300 GW, up from around 1,000 GW now.

Read more …

US to target EU goods. Then EU can target US in 2020. They BOTH screwed up.

Record US Tariff Award Over Airbus Aid Could Fuel Trade Tensions (R.)

Transatlantic trade ties face renewed disruption this week when global arbiters are expected to grant the United States a record award allowing it to hit European imports with billions of dollars of tariffs in a long-running aircraft subsidy dispute. The World Trade Organization (WTO) has found that both European planemaker Airbus and its U.S. rival Boeing received billions of dollars of illegal subsidies in a pair of cases that have run for 15 years. Both sides have threatened tariffs after the Geneva body found neither adhered fully to its findings. However, the United States has a head start, with the European Union having to wait until early in 2020 to hear what level of retaliation it can exact over Boeing.


The WTO is expected this week to reveal the amount of EU goods the United States can target. People familiar with the case say the three-person tribunal is expected to award it around $7.5 billion, a record for the 24-year-old watchdog. Such retaliation rights are rarely granted by the WTO – most parties reach settlements – and in many cases complainants do not exercise their rights. The United States though has indicated it will target EU goods to the fullest extent. It has already published a $25 billion list from which it will pick items to target from aircraft and aerospace parts to wine, cheese and luxury goods.

Read more …

Don’t hold your breath.

FBI Expands Investigation Into Prince Andrew’s Ties To Jeffrey Epstein (GP)

The FBI has expanded its investigation into Prince Andrew’s ties to dead pedophile Jeffrey Epstein. The UK’s Sunday Times reported that the FBI is attempting to “identify more of the billionaire’s victims, who could provide information on the royal.” According to their report, the FBI is planning to spend the next two months questioning alleged trafficking victims. They have reportedly briefed Scotland Yard to their plans and their UK counterpart has agreed to assist the investigation. “The US investigation is focusing on several potential victims in the hope that they can provide more details about Prince Andrew and his connection to the Epstein case,” a source from the Department of Justice told the Sunday Times. The source added that “they are not going to dismiss it [claims relating to Andrew] because he is a royal.”


The Duke of York has been accused of having sex with Virginia Roberts Giuffre when she was only 17, at the behest of Epstein and his alleged recruiter and groomer Ghislaine Maxwell. There is an infamous photo of her with the prince when she was very young, which he has claimed is fake. The royal has also been photographed inside the home of Epstein, as another young girl is seen leaving the apartment. The Times report says that Giuffre’s allegations are not the only ones they are looking into related to Prince Andrew. Law and Crime reports that “Dai Davies is Scotland Yard’s former head of royal protection and he personally oversaw Prince Andrew’s protection during the 90s. He said it was in the ‘public interest’ for authorities to investigate Prince Andrew now since London police previously shuttered an investigation based on claims made by Giuffre in 2015.”

Read more …

This makes me think only of how people process the news these days.

To Pay Attention, the Brain Uses Filters, Not a Spotlight (QM)

We can pick out a conversation in a loud room, amid the rise and fall of other voices or the hum of an air conditioner. We can spot a set of keys in a sea of clutter, or register a raccoon darting into the path of our onrushing car. Somehow, even with massive amounts of information flooding our senses, we’re able to focus on what’s important and act on it. Attentional processes are the brain’s way of shining a searchlight on relevant stimuli and filtering out the rest. Neuroscientists want to determine the circuits that aim and power that searchlight. For decades, their studies have revolved around the cortex, the folded structure on the outside of the brain commonly associated with intelligence and higher-order cognition. It’s become clear that activity in the cortex boosts sensory processing to enhance features of interest.


But now, some researchers are trying a different approach, studying how the brain suppresses information rather than how it augments it. Perhaps more importantly, they’ve found that this process involves more ancient regions much deeper in the brain — regions not often considered when it comes to attention. By doing so, scientists have also inadvertently started to take baby steps toward a better understanding of how body and mind — through automatic sensory experiences, physical movements and higher-level consciousness — are deeply and inextricably intertwined.

Read more …

 

“The secret of getting ahead is getting started”
Mark Twain

 

 

 

 

Sep 282019
 
 September 28, 2019  Posted by at 9:51 am Finance Tagged with: , , , , , , , , ,  13 Responses »


Paul Gauguin Harbour scene, Dieppe 1883

 

New Docs Contradict Biden Claim That Fired Ukrainian Prosecutor Was Corrupt (ZH)
Adam Schiff Epitomizes the Total Collapse of Democratic Party Integrity (PCR)
10 Reasons Democrats’ Impeachment Argument Is Falling Apart (Grabien)
Intel Community Secretly Nixed Whistleblower Demand of First-Hand Info (Fed.)
Pompeo Subpoenaed By House Democrats In Trump Impeachment Inquiry (BBC)
Everything the Press Gets Wrong about the Ukraine Call (Scott Adams)
A Dumpster Fire on a Garbage Barge (Kunstler)
Joseph Wilson, US Envoy Who Defied Bush Over Iraq, Dies Aged 69 (BBC)
White House Deliberates Block On All US Investments In China (CNBC)
Western Dominance Is On The Wane – Lavrov at UNGA (RT)
Establishment & Media Sympathize With Greta. So How Is That A Protest? (RT)
Assange Behind Bars (Felicity Ruby)

 

 

As I wrote yesterday: “John Solomon’s account is really important in the impeachment hearings.. And everything he says is documented.”

Solomon is the key figure here.

New Docs Contradict Biden Claim That Fired Ukrainian Prosecutor Was Corrupt (ZH)

Appearing on “Hannity” Thursday night, Solomon explained “These documents show, as I report tonight for the first time, that the very day that Joe Biden managed to get that Ukraine prosecutor fired, that very day his son’s company’s lawyers, the American company lawyers helping Burisma trying to fight this investigation were trying to urgently reach the new prosecutor, the replacement prosecutor.” “In that meeting, according to the official record from the prosecutor, the lawyers for Hunter Biden’s company stated to the replacement prosecutor, we know that the information calling Mr. Shokin was corrupt and was ‘False information distributed by U.S. Government officials and other figures. We would like to make this up to you by bringing you to Washington, you are not corrupt and you instigated numerous reforms.’ That is the official record of the meeting. Ukrainian prosecutors kept.” (via the Daily Caller). According to Solomon, the memos raise troubling questions (via The Hill):


1) If the Ukraine prosecutor’s firing involved only his alleged corruption and ineptitude, why did Burisma’s American legal team refer to those allegations as “false information?” 2) If the firing had nothing to do with the Burisma case, as Biden has adamantly claimed, why would Burisma’s American lawyers contact the replacement prosecutor within hours of the termination and urgently seek a meeting in Ukraine to discuss the case? What’s more, Ukrainian prosecutors attempted to get this information to the US Department of Justice (DOJ) since last summer – first unsuccessfully engaging a US attorney in New York who they say showed no interest, and then reaching out to Rudy Giuliani, President Trump’s attorney.

Read more …

Schiff was a disgrace in the House- again.

Adam Schiff Epitomizes the Total Collapse of Democratic Party Integrity (PCR)

US Rep. Adam Schiff, Democrat from California and chairman of the House Intelligence Committee, had no qualms about lying through his teeth in his opening statement prior to the testimony of Acting Director of National Intelligence Joseph Maguire. Everyone present had read the transcript of the telephone conversation between President Trump and Ukrainian President Zelensky, and everyone knew that what Schiff, who said he was reading from the transcript of the telephone call, was saying was not in the transcript. How can it be that the chairman of a House committee in a room full of newspersons and TV cameras has no qualms about intentionally misrepresenting the written record in order to make it conform to the lies the Democrats and their stable of corrupt presstitutes have spread about a telephone call revealed by an alleged whistleblower, a likely Democrat operative, who claimed to have heard it second hand.

When I was a member of the Congressional staff, any Representative who so dishonored a committee of the House and the House itself as Schiff has done would have been reprimanded, brought before the Ethics Committee, and forced to resign. But the Democrats have ground integrity under their heel in their fanatical determination to prevent Trump’s reelection. In his opening statement Adam Schiff further showed his total lack of integrity in his assault on the integrity and character of Joseph Maguire and made wild and irresponsible charges probably never witnessed previously in the halls of Congress.

The transcript of the telephone call shows that what the alleged whistleblower said is false. Yet in the face of the evidence Adam Schiff speaks as if the evidence does not exist and that the alleged whistleblower’s second hand statement is true. Once again we hear the Democratic Party say, “Evidence? We don’t need no stinkin’ evidence.” They don’t need evidence because the presstitutes support their lies and control the explanations given to Americans. The Democrats are betting their future on their lies being shielded by their media whores and that the insouciant American people will hear nothing but false allegations against Trump repeated endlessly, as was the case with Russiagate. If the people realize that the “impeachment investigation” is another hoax like Russiagate, Schiff will have destroyed the Democrats’ chances in the next election.

Read more …

Key feature: “..the Ukrainian delegation hadn’t even been made aware aid was held up until a month after the Trump call…”

10 Reasons Democrats’ Impeachment Argument Is Falling Apart (Grabien)

1. No quid pro quo. Despite Democrats’ initial claim, there was no quid pro quo. The call transcript shows the topic of aid only came up in reference to how well the U.S. treats Ukraine, particularly as compared to Euro nations, most specifically Germany. At no point does Trump threaten to withhold anything, as even some of Trump’s media critics conceded.

2. Ukrainians weren’t pressured. Democrats and the media have repeatedly insisted President Trump “acted like a mob boss” in applying pressure on President Volodymyr Zelensky. He, however, defended Trump, saying he felt no pressure. “ I think you read everything,” he told reporters in New York this week. “So I think you read text. I’m … I am sorry but I don’t want to be involved to democratic open, uh, hum… [..] .. elections of U.S.A. You’ve heard we had, um, I think good phone call. It was normal. We spoke about many things and I thought so. And I think and you read it that nobody push it, pushed me.”

3. Timeline. Politico’s Ken Vogel reported that the Ukrainian delegation hadn’t even been made aware aid was held up until a month after the Trump call. It’s hard to see they could feel they’re being “extorted,” as Democrats keep saying, if they weren’t even aware of the pressure supposedly being applied.

4. No Illicit Favors. When the White House released the call transcript, readers noticed that after some initial mutual flattery, Zeleznsky brings up buying more Javelin missiles; President Trump then asks for a favor and requests additional information into 2016 election meddling. Rep. Adam Schiff suggested Trump’s request for a “favor” actually referenced wanting dirt on Joe Biden, but Biden only comes up later in the conversation, and in a separate context. Nonetheless, the major media almost uniformly reported the “favor” line from Trump’s call in the same inaccurate fashion.

5. Whistleblower Complaint Lacks Credibility. This complaint, which Democrats for some reason insisted was more important than the call transcript itself, was basically a version of that original call that had been run through a game of telephone. The report had the basic story reasonably accurate, but then supplemented that synopsis with additional accumulated gossip. At least three key details in the complaint have since been shown to be false. As the document is itself a product of hearsay — the self-described whistleblower admits at the beginning of his report that he never witnessed anything — and the fact it contains demonstrable inaccuracies, its importance should certainly be subjugated to the call transcript itself. [..]

9. Rudy. It’s widely reported Rudy Giuliani was Trump’s go-to guy for actually carrying out this conspiracy. On his call, Trump told the Ukraine president to speak with Rudy (as well as AG Barr), about the investigation into an oil company on whose board sat Hunter Biden, the former vice president’s son. But Giuliani first communicated with his Ukrainian counterparts more than a year before Biden entered the race. Yes, it’s possible they anticipated Biden eventually entering the race; but it’s also possible Trump actually thought there might be legitimate corruption worthy of investigating. Giuliani tries to prove this point by noting the State Dept. was helping coordinate his communications.

Read more …

This is too much.

Intel Community Secretly Nixed Whistleblower Demand of First-Hand Info (Fed.)

Between May 2018 and August 2019, the intelligence community secretly eliminated a requirement that whistleblowers provide direct, first-hand knowledge of alleged wrongdoings. This raises questions about the intelligence community’s behavior regarding the August submission of a whistleblower complaint against President Donald Trump. The new complaint document no longer requires potential whistleblowers who wish to have their concerns expedited to Congress to have direct, first-hand knowledge of the alleged wrongdoing that they are reporting.

The brand new version of the whistleblower complaint form, which was not made public until after the transcript of Trump’s July 25 phone call with the Ukrainian president Volodymyr Zelensky and the complaint addressed to Congress were made public, eliminates the first-hand knowledge requirement and allows employees to file whistleblower complaints even if they have zero direct knowledge of underlying evidence and only “heard about [wrongdoing] from others.” The internal properties of the newly revised “Disclosure of Urgent Concern” form, which the intelligence community inspector general (ICIG) requires to be submitted under the Intelligence Community Whistleblower Protection Act (ICWPA), show that the document was uploaded on September 24, 2019, at 4:25 p.m., just days before the anti-Trump complaint was declassified and released to the public.

The markings on the document state that it was revised in August 2019, but no specific date of revision is disclosed. The complaint alleges that President Donald Trump broke the law during a phone call with the Ukrainian president. In his complaint, which was dated August 12, 2019, the complainant acknowledged he was “not a direct witness” to the wrongdoing he claims Trump committed. A previous version of the whistleblower complaint document, which the ICIG and DNI until recently provided to potential whistleblowers, declared that any complaint must contain only first-hand knowledge of alleged wrongdoing and that complaints that provide only hearsay, rumor, or gossip would be rejected.

Read more …

You start to feel pity for them.

Pompeo Subpoenaed By House Democrats In Trump Impeachment Inquiry (BBC)

US Secretary of State Mike Pompeo has been ordered by Democrats to turn over documents relating to the Trump administration’s dealings with Ukraine. In a letter, the heads of three House committees subpoenaed Mr Pompeo to produce the documents within a week. It is the latest move in rapidly escalating impeachment proceedings against President Donald Trump. He is being scrutinised for allegedly pressuring Ukraine’s president to investigate Democratic rival Joe Biden. In a separate development on Friday, the US special envoy for Ukraine negotiations, Kurt Volker, resigned, US media reported.


Mr Trump has denied putting any pressure on Ukrainian President Volodymyr Zelensky in a phone call in July, when Mr Biden was leading polls to win the Democratic nomination for the White House race in 2020. Mr Trump has alleged that Mr Biden pressed for the sacking of Ukrainian prosecutor Viktor Shokin in 2016 to protect a business that employed his son, Hunter Biden. Mr Biden did call for the sacking of Mr Shokin, even threatening to withhold $1bn (£813m) in aid to Ukraine.

Read more …

Everyone understands why the US president needs the room to move, and they’ll grant it to every single one. Except for Trump.

Everything the Press Gets Wrong about the Ukraine Call (Scott Adams)

We give our presidents a lot of flexibility in dealing with foreign affairs because it works better to have one “boss” in these situations. Had Trump permanently withheld funds approved by Congress, that would be a system problem on our end. But temporarily putting a hold on those funds before speaking leader-to-leader is just smart presidenting. It creates the impression that the president is the only American the foreign leader needs to deal with. That’s “setting the table.” Does it matter exactly what Trump was going to discuss, negotiate, or request? Nope. If the only thing Trump did on the phone call was congratulate President Zelensky on his election victory, it would still be smart to hold the funds until then.

We want our president to go into every conversation with foreign leaders fully armed, persuasion-wise. When Trump brings the full weight of the office with him, it sets the table for the current conversations, and every one after that. When Trump withholds funds, pulls out of a deal, or otherwise transfers power from Congress to himself, it makes him a more effective negotiator. It puts him in charge. It is a strong psychological advantage. Compare that approach to sending a president out weak, dependent on Congress to wipe his nose. Those are not similar table settings. Trump knows the difference. So does everyone who read his book, The Art of the The Deal.

We’ve heard Trump say he was concerned about corruption in Ukraine, and that was why he put a hold on the funds. I’m sure that was at least a part of his concern. Probably every American has that same concern about foreign aid in general. But as I said, it doesn’t matter what reason he gives the American public. Regardless of corruption in Ukraine, it was still smart to withhold funds until after the leaders spoke, because it made Trump the only person Zelensky needs to satisfy. That’s what we want from our presidents. We want them going in strong, with the full weight of their office and influence, to every interaction with foreign leaders, every time.

Read more …

“Their ongoing campaign to undo the 2016 election is igniting a civil war.”

A Dumpster Fire on a Garbage Barge (Kunstler)

Others have pointed out that the whistleblower’s complaint was composed as a legal brief, leading to the inference that it was constructed by lawyers and perhaps a team of lawyers. The whistleblower’s lawyer is Andrew Bakaj, a former CIA employee who got his start interning for Senator Chuck Schumer and then Hillary Clinton. The Washingtonian said Bakaj “actually wrote the CIA’s internal rules on whistleblowing.” Is that so? Did he write Form 401 then? His client’s complaint states: “I was not a direct witness to most of the events described. However, I found my colleagues’ accounts of these events to be credible because, in almost all cases, multiple officials recounted fact patterns that were consistent with one another.” In other words, second-hand information. Dismissed.

Everyone and his uncle remembers the infamous threat issued to Mr. Trump by Senator Schumer during the transition period in January, 2017: “Let me tell you: You take on the intelligence community — they have six ways from Sunday at getting back at you,” Perhaps Senator Schumer should have kept his pie-hole shut on that. He made it official that the Intel Community would act as an adversary and antagonist to the President, and that appears to be exactly what has happened. One suspects that this rogue agency has captured The New York Times, The Washington Post, National Public Radio, and several TV cable news networks as well. And now they are metamorphosing into an enemy of the people.

The moment approaches when Mr. Trump will have to carry out a severe housecleaning of the CIA and perhaps many other agencies under the executive branch of the government. Their ongoing campaign to undo the 2016 election is igniting a civil war. Clearly a part of the whistleblower gambit was an attempt to discredit Attorney General William Barr and set up a device that would force him to recuse himself from any further inquiry into shenanigans carried out in and around Ukraine since 2014, when the CIA and the Obama State Department overthrew the government of Viktor Yanukovych. Mr. Barr is a sturdy fellow. He may have seven ways from Sunday for countering their seditious monkeyshines. Wait for it.

Read more …

Literally lives destroyed by the Deep State.

Joseph Wilson, US Envoy Who Defied Bush Over Iraq, Dies Aged 69 (BBC)

The US diplomat Joseph Wilson, who defied President George W Bush over the decision to go to war with Iraq, has died aged 69. In 2003, Mr Wilson disproved allegations used by the Bush administration as grounds for invasion that then-Iraqi leader Saddam Hussein had bought uranium in Niger. Days later, his then-wife Valerie Plame was outed as a CIA agent, in what some saw as an act of political revenge. He and Ms Plame divorced in 2017. Ms Plame told the Washington Post that er ex-husband had died of organ failure in a hospice in New Mexico, where they both lived. In a career spanning three decades, Mr Wilson held numerous postings, mainly in Africa. As acting ambassador to Iraq in the run-up to the First Gulf War in 1991, he was the last US diplomat to meet Saddam Hussein.


In 2002, by then a private citizen, Mr Wilson was sent by the CIA on a fact-finding mission to Niger to investigate reports that Iraq had bought a nuclear material – uranium yellowcake. Mr Wilson concluded that the reports were false, but 11 months later they reappeared in Mr Bush’s State of the Union address. They were used as evidence that Iraq was obtaining weapons of mass destruction, and justification for the 2003 war. In July of that year, the former diplomat wrote in the New York Times: “I have little choice but to conclude that some of the intelligence related to Iraq’s nuclear weapons programme was twisted to exaggerate the Iraqi threat.”

Read more …

May not be all that practical. How about existing investments?

White House Deliberates Block On All US Investments In China (CNBC)

The White House is weighing some curbs on U.S. investments in China, a source familiar with the matter told CNBC. This discussion includes possibly blocking all U.S. financial investments in Chinese companies, the source said. It’s in the preliminary stages and nothing has been decided, the source said. There’s also no time frame for their implementation, the source added. Restricting financial investments in Chinese entities would be meant to protect U.S. investors from excessive risk due to lack of regulatory supervision, the source said. The deliberations come as the U.S. looks for additional levers of influence in trade talks, which resume on Oct. 10 in Washington.


Both countries slapped tariffs on billions of dollars worth of each other’s goods. The discussions also come as the Chinese government is taking steps to increase foreign access to its markets. Bloomberg News first reported earlier on Friday that Trump administration officials are considering ways to limit U.S. investors’ portfolio flows into China, including delisting Chinese companies from American stock exchanges and preventing U.S. government pension funds from investing in the Chinese market. Shares of Alibaba, Baidu and other Chinese companies plunged following the news. China’s yuan weakened to 7.15 against the dollar on the report.

Read more …

‘We’re liberals hence anything is permitted to us’”

Western Dominance Is On The Wane – Lavrov at UNGA (RT)

The West ignores reality by trying to prevent the formation of a multi-polar world by imposing its narrow “liberal” rules on others, Russia’s Foreign Minister Sergey Lavrov has told the UN General Assembly. Lavrov’s speech on Friday at the UN headquarters in New York focused on global challenges but, unlike some of the speakers, he didn’t mince words, proceeding into a full-on rebuke of the Western ideal of world order. New centers of economic growth and political influence are emerging internationally, he said, but the US and its allies are trying to impede the rise of the multi-polar world. In order to achieve this, they “impose the standards of conduct based on narrow Western interpretation of liberalism on others. In short, ‘We’re liberals hence anything is permitted to us’” was how he characterized this attitude.

“It’s hard for the West to accept that its centuries-long domination is diminishing.” “The West has been increasingly forgetting about international law and more often dwell on rules-based order.”

As opposed to this counterproductive approach, lasting solutions to global challenges should be founded “on the basis of the UN Charter, through the balance of interests of all states,” the Russian FM recommended. The top Russian diplomat also expressed hope that Moscow and Washington would agree on an extension of the New Strategic Arms Treaty (New START), which is set to expire in February 2021. All the suggestions that Russia has made to establish additional communication channels to work on the issue are still “on the table,” Lavrov said, as is Moscow’s most recent proposal for NATO to impose a mutual moratorium on the deployment of short- and mid-range missiles in Europe.

Read more …

Oh, jeez…: “The Guardian comparing her speech on Monday to Abraham Lincoln’s Gettysburg Address for its historical significance, and New York Magazine calling her “the Joan of Arc of climate change.”

Establishment & Media Sympathize With Greta. So How Is That A Protest? (RT)

As hundreds of thousands of people – many of them schoolchildren – take to the streets in another demonstration over climate change, one must wonder: at what point does protest become the status quo? Swedish climate activist Greta Thunberg’s solo school walkout last August was little more than a sideshow to newspaper editors and TV crews. But the teenage crusader’s ‘school strike’ snowballed, and the ‘Fridays for Future’ movement grew. Now, after an emotional speech by Thunberg at the UN Climate Action Summit on Monday, hundreds of thousands of climate strikers worldwide are packing the streets on Friday, demanding their governments declare a state of emergency, slash carbon emissions, penalize meat-eating and kill the car, to pick but a few of their proposals.

But these radicals – as they would have been called not so long ago – aren’t being met by the batons, tear gas and rubber bullets the state usually deploys to quash dissent (not that any peaceful demonstrations should be). Media outlets aren’t smearing those within their ranks as racists and downplaying attendance numbers, and the crowds occupying city streets aren’t risking injury and mutilation to do so. The very idea of ‘protest’ implies some resistance, some injustice of state to be overcome. Climate protesters would argue that not enough is being done to heal our heating earth – and that’s a debate beyond the scope of this article – but government, media, and the world’s power brokers have aided Thunberg and co’s protest movement at every step of the way.

France’s ‘Yellow Vests’ protests began in opposition to a fossil fuel tax hike, and were met with all of the violence described above on a weekly basis. Thunberg, in contrast, was invited to address the French parliament in July. Likewise with her appearances at the World Economic Forum in Davos earlier this year, her speeches before British parliament and the US Congress, and her most recent UN appearance. On every occasion, the world’s political leaders rolled out the red carpet and held the door open for her to lecture them. Media coverage of Thunberg and the climate protests has been overwhelmingly favorable – with The Guardian comparing her speech on Monday to Abraham Lincoln’s Gettysburg Address for its historical significance, and New York Magazine calling her “the Joan of Arc of climate change.” The Yellow Vests, to continue the comparison, were described as a rabble of anti-semites and “notorious Holocaust deniers,” based on the actions of a tiny minority of protesters.

Read more …

A visit to Belmarsh maximum-security prison. Hard to get through.

Assange Behind Bars (Felicity Ruby)

I have only ever known Julian Assange in detention. For nine years now, I have visited him in England bearing Australian news and solidarity. To Ellingham Hall I brought music and chocolate, to the Ecuadorian embassy I brought flannel shirts, Rake, Wizz Fizz and eucalyptus leaves, but to Belmarsh prison you can bring nothing—not a gift, not a book, not a piece of paper. Then I returned to Australia, a country so far away that has abandoned him in almost every respect.

Over the years I have learned to not ask, ‘How are you?’, because it’s bloody obvious how he is: detained, smeared, maligned, unfree, stuck—in ever-narrower, colder, darker and damper tunnels—pursued and punished for publishing. Over the years I’ve learned to not complain of the rain or remark on what a beautiful day it is, because he’s been inside for so long that a blizzard would be a blessing. I’ve also learned that it is not comforting but cruel to speak of sunsets, kookaburras, road trips; it’s not helpful to assure him that, like me and my dog, he will find animal tracks in the bush when he comes home, even though I think it almost every day.

It is the prolonged and intensifying nature of his confinement that hits me as I wait in the first line outside the front door of the brown-brick jail. At the visitor centre opposite I’ve been fingerprinted after showing two forms of proof of address and my passport. Sure to remove absolutely everything from my pockets, I’ve locked my bags, keeping only £20 to spend on chocolate and sandwiches. Despite the security theatre that follows, the money gets nicked at some point through no fewer than four passageways that are sealed from behind before the next door opens, a metal detector, being patted down and having my mouth and ears inspected. After putting our shoes back on, we visitors cross an outdoor area and are faced with the reality of the cage: grey steel-mesh fencing with razor wire that is about 4 metres high all around. I hurry into the next building before going into a room where thirty small tables are fixed to the floor, with one blue plastic chair facing three green plastic chairs at each.

Read more …

 

 

 

 

Sep 242019
 
 September 24, 2019  Posted by at 9:12 am Finance Tagged with: , , , , , , , , ,  19 Responses »


Paul Gauguin Clovis Gauguin asleep 1884

 

Why Repo Is Such a Big Deal, and Its $400 Billion Bailout So Unnerving (Fort.)
Interest Rate Business Model is Dead (Welt)
Discord At The Top Is Bad For The ECB (MW)
Boris Johnson Refuses To Rule Out Suspending Parliament Again (G.)
UK Labour Party Remains Split Over EU (CNBC)
The Odor of Desperation (Kunstler)
Why Is The Media Circling The Wagons To Protect Hunter Biden? (NYPost Ed.)
Democrats Were First To Enlist Ukraine In US Elections (Solomon)
Democrats Announce Tighter Criteria For Fifth Presidential Debate (R.)
Google Wins Landmark Right-To-Be-Forgotten Case In Europe (BBC)
US Government Moves To Block Alleged Drone Whistleblower’s Defense (SProof)

 

 

2 things:

1) the UK Supreme Court ruling on prorogation will come too late to include here.

2) I’m sorry that Greta Thunberg made me feel queasy yesterday. I know she means well, but it all came out very strangely in her speech. Could hardly bear to watch it. Who’s pushing her? To Davos first, and now the UN?

 

 

“..any counter-party in need of cash, and only holding collateral like Treasuries, agreed to pay the much higher going repo rates. That’s supply and demand..”

Why Repo Is Such a Big Deal, and Its $400 Billion Bailout So Unnerving (Fort.)

Repos (short for repurchase agreements) are short-term borrowing transactions, often made overnight. Think of them as trades of cash for some kind of collateral. In a repo transaction, the borrower will sell certain securities in their possession with the agreement to buy them back the next day. If the transaction is not rolled over, then the trade has to be settled the following day, with the borrower repurchasing the collateral from the lender for slightly more than it had previously sold it for, compensating the lender with interest for taking on the risk. Large corporations and banks typically hold vast quantities of highly liquid financial assets, and so they like using these markets as a means of quick and easy financing.

In fact, there are more than $1 trillion worth of overnight repo transactions collateralized with US government debt occurring every day. Banks frequently go to these markets to fund the loans they issue, and to finance the trades they execute. That’s when it’s working smoothly. The repo market seized up last week, with median repurchase rates skyrocketing from their usual band of 2.00-2.25% to 2.46% on Monday, and 5.25% on Tuesday. Keep in mind, that’s the median rate. Some repo rates were as high as 9%, more than quadruple the Federal Reserve’s own target rate, which usually puts a cap on how high Treasury repo rates could climb.

An unlucky confluence of events, including an exceptionally large demand for cash from U.S. companies that needed to pay their corporate tax bills, sucked a lot of the available cash out of the financial markets. What happened last week was any counter-party in need of cash, and only holding collateral like Treasuries, agreed to pay the much higher going repo rates. That’s supply and demand, plain and simple, and it mirrors what happened in certain repo markets in 2007 before the housing crash and the Great Recession that followed.

Read more …

This is from an article by Anne Kunz and Holger Zschäpitz for Die Welt. Mish ran a Google translate which he corrected later.

I must say, the impression is too strong that Deutsche Bank and Commerzbank are in trouble only because of Draghi. That is simply not true.

And banks are not the main victims of low rates, savers and pensioners are.

Interest Rate Business Model is Dead (Welt)

The cash cow bank lending model is dead, buried by the European Central Bank (ECB). The coup de grace came at the recent meeting. As ECB President Mario Draghi squeezed the negative interest rate for banks even deeper. The ECB will restart its bond purchase program in November. This time, without a time limit. Thus, the monetary authorities have permanently chained the long-term interest rate at a low level and cut the profit opportunities of the financial sector to a level that isn’t sustainable. For a long time, institutions have made good money from the difference between long-term and short-term interest rates.That time is now over.

In 2016, Commerzbank employed more than 50,000 people. CEO Martin Zielke wants to close one-fifth of the 1,000 branches and even wants to part with an important source of income including his Polish subsidiary MBank. The workforce should be reduced to around 38,000 by the end of 2020. The sale of Mbank is a desperate attempt at salvation. In terms of stock market value, Deutsche Bank and Commerzbank are now loosely hanged even by more regionally active institutions from Norway and Sweden. [That is a direct translation that reads wrong but I do not know how to fix it]. Even the once proud Landesbanken is a restructuring case. This is a dangerous development.

“With the allowance, the ECB has relieved the German banks in the short term by around 500 million euros. At the same time, banks will be burdened considerably by the continuation of the low interest rates for an indefinite period, “says Peter Barkow, financial expert at Barkow Consulting. “Especially the German banks are very much dependent on income from the long-term investment of customer deposits at higher interest rates, called maturity transformation. This strategy only works very limited, “warns the expert. [The allowance refers to the ECB not charging banks a portion of the negative interest on excess reserves]

However, the corresponding earnings impact on the banks will only be delayed. “Many German banks have to find new sources of income in the medium term. In the short term, a further reduction in costs will probably be necessary, “says Barkow. For more than a hundred years, banks lived on long-term lending or investing in securities their clients entrusted to them in the short term. Historically, banks made money out of time. If time no longer has a price, because there is no more interest, nothing can be earned. Ten-year Bunds yielded around 1.5 percentage points more than two-year issues in historical terms. Currently, the difference is just under 0.2 percentage points.

Read more …

Depends on Lagarde.

Discord At The Top Is Bad For The ECB (MW)

The ECB on September 12 launched a new round of monetary easing, arguing that the decline of inflation expectations in the eurozone, triggered by the current economic slowdown, is throwing further doubt on its ability to reach its official target of “below but close to 2%”. The central bank not only resumed its asset purchases while lowering its key interest rate to minus 0.5%: It also, for the first time, declined to set a date for the end of the program, indicating only that it would be phased out once inflation is “robustly” back on the 2% track. The decision came after a heated debate on the governing council, which includes the 19 central bankers from the monetary union’s member countries and the ECB’s six-strong executive board. Even traditional doves, such as the council’s two French members, argued against the resumption of the bond-buying program.

As soon as the decision was announced, the fiercest opponents to the package went public with their frustration. German central bank President Jens Weidmann told the newspaper Bild that the package was “unnecessary.” The day before, the same newspaper had accused Draghi, dubbed “Count Draghila,” of “sucking dry” the accounts of German savers. Austrian central bank head Robert Holzmann told Bloomberg the package “may have been a mistake.” And Klaas Knot, the Dutch central bank chief, added that the package was “disproportionate.” The loose monetary policies initiated by ECB President Mario Draghi in the summer of 2012, less than a year after he took office, were always reluctantly accepted by eurozone central’s most hawkish members, even when they occasionally voted for some of the measures — such as the first round of bond-buying, back in 2014.

But it is the first time that the relative confidentiality of the governing council’s deliberations has turned into such a public airing of dirty monetary laundry.

Read more …

“..Johnson also categorically ruled out any sort of deal with Nigel Farage’s Brexit party..”

Boris Johnson Refuses To Rule Out Suspending Parliament Again (G.)

Boris Johnson has refused to rule out suspending parliament again if the supreme court rules on Tuesday that he abused his powers as prime minister in doing so earlier this month. The British prime minister, who is in New York for a UN summit, also indicated he would not feel obliged to resign if the justices rule he misled the Queen in his reasons for suspending parliament. Asked if he felt a verdict going against him would make his position untenable, Johnson said: “No. I think the reasons for wanting a Queen’s speech are extremely good.” Speaking to reporters, Johnson also categorically ruled out any sort of deal with Nigel Farage’s Brexit party in the likely imminent election, saying the Conservatives would contest every seat.


The supreme court judgment, which could have a huge impact not just on Johnson’s future but also the wider ability of the courts to take a view in political decisions made by government, is due to be announced at 10.30am, following last week’s hearing. The panel of 11 judges were tasked with hearing appeals from two separate legal challenges to Johnson’s decision to prorogue parliament – the technical term for gaps in parliamentary sessions which do not involve dissolution before an election – for five weeks from 9 September.

Read more …

Corbyn’s attempts to not lose the Leave voters divide the party. Damned if you do…

UK Labour Party Remains Split Over EU (CNBC)

Britain’s main opposition party has narrowly voted to maintain a neutral stance on the country’s most divisive topic, Brexit, after chaotic scenes at the party’s conference Monday evening prompted fresh criticism from both internal party activists and senior political opponents. Much of the party’s ordinary membership are in favor of the U.K.’s continued membership in the European Union, but Labour chief Jeremy Corbyn has long remained publicly ambivalent on the subject in a bid to hold his party and its supporters together ahead of an expected national election. But those efforts were severely tested as the party’s ruling body put forward a series of proposals on Brexit, many of which had been crafted by dozens of the local Labour constituencies over the course of several days.


Corbyn’s team had insisted that the party remain agnostic for now on whether the U.K. should leave or remain in Europe, and demanded that a final decision be made at another future meeting; at an undetermined time and after a putative election victory. [..] Those Labour activists and party officials who are concerned about those departing voters, and who also advocate remaining in the EU, had put forward a separate proposal Monday. It would have forced the party to adopt a clear policy in favor of continued EU membership, but it was marginally defeated in a vote of raised hands that even the meeting’s chairwoman acknowledged had been hard to judge with total certainty.

Read more …

And every second headline says impeachment again. Am I the only one getting tired of that?

The Odor of Desperation (Kunstler)

The swamp abides. The latest news media dumpster fire over President Trump’s phone conversation with Ukrainian president Volodymyr Zelensky is a three-way ruse. Ruse 1: deflect attention from the main issue, which is Joe Biden’s trolling for payoffs on his missions to foreign lands as vice-president, first Ukraine, where son Hunter was gifted a board of director’s chair and $50K-a-month salary with Ukrainian gas company Burisma, and then a $1.5 billion “private equity investment” to Hunter Biden’s wealth management fund from the state-owned Bank of China. Ruse 2: to deflect attention from the damage soon to be inflicted on the Deep State by the forthcoming DOJ Inspector General’s report on FISA court abuses. Ruse 3. To set in motion yet another obstruction of justice trap for Mr. Trump on the basis of false charges.

This comes at the instigation of Intelligence Community Inspector General Michael Atkinson, who was formerly senior legal counsel to John Carlin head of the National Security Division of the Department of Justice, deeply implicated in the FISA court matters of 2016 under investigation by federal prosecutor John Durham. Mr. Atkinson cited a complaint by an unnamed whistleblower who claims to have heard from a source that the President offered a quid pro quo to Ukrainian President Zelensky for reopening the Burisma case. The “whistleblower” may be Mr. Atkinson himself. Of course, gaffe-prone Joe Biden spilled the beans on video earlier this year, when he bragged about shaking down Ukraine’s then-president Petro Poroshenko over a billion-dollar loan guarantee unless he fired the prosecutor investigating Burisma, which he did. Is there any ambiguity here?

The coordination between the news media and the Deep State is impressively blatant in this new gambit, with former acting FBI director Andrew McCabe (dismissed for cause in 2018), in his new position as a CNN “contributor” (while awaiting prosecution) teeing up a new “Trump collusion” narrative with The New York Times, WashPost, and NBC marching in step. In this new age of disinformation, narratives are the political weapon of choice in the campaign to harass and disable the winner of the 2016 election. The big play of RussiaGate failed, the play of “racism” is failing, so UkraineGate is next up.

Read more …

“Imagine the son was Eric Trump, and the politician Donald Trump. Would the media be dismissing it as nothing worth looking at, a “debunked” issue?”

Why Is The Media Circling The Wagons To Protect Hunter Biden? (NYPost Ed.)

A foreign natural gas company brings a top US politician’s son onto its board, even though he has no relevant expertise, for $50,000 a month. The politician travels to that country and demands the removal of a prosecutor who’s investigating the company. That prosecutor then gets axed, and the investigation shut down. Imagine the son was Eric Trump, and the politician Donald Trump. Would the media be dismissing it as nothing worth looking at, a “debunked” issue? Yes, Ukraine’s chief prosecutor declared in May that he’d seen no evidence of wrongdoing by Joe or Hunter Biden. Of course not: Again, the investigation got closed years ago.

Yet Yuriy Lutsenko also basically told Bloomberg News he didn’t want to see any such evidence: “I do not want Ukraine to again be the subject of US presidential elections.” And Volodymyr Zelensky took over as Ukraine’s new president after that Lutsenko interview — having won on a vow to end Ukraine’s endemic corruption. Was it really so strange that President Trump pushed the reformer to reopen the probe? No, Trump hasn’t bathed himself in glory with his ham-handed pressure on Ukraine. Then again, Joe Biden’s boasts about getting that prosecutor axed also look clumsy. Then there’s Lutsenko’s claim that the Obama administration handed him a “do not prosecute” list in mid-2016, even as it was pushing Ukraine for dirt on Paul Manafort, Trump’s campaign manager.

That evidence eventually helped send Manafort to prison. What might come of a full-on Hunter Biden probe?

Read more …

“..the pressure began at least as early as January 2016, when the Obama White House unexpectedly invited Ukraine’s top prosecutors to Washington..”

“..What wasn’t known at the time, Shokin told me recently, was that Ukrainian prosecutors were preparing a request to interview Hunter Biden about his activities and the monies he was receiving from Ukraine.”

Democrats Were First To Enlist Ukraine In US Elections (Solomon)

Earlier this month, during a bipartisan meeting in Kiev, Sen. Chris Murphy (D-Conn.) delivered a pointed message to Ukraine’s new president, Volodymyr Zelensky. While choosing his words carefully, Murphy made clear — by his own account — that Ukraine currently enjoyed bipartisan support for its U.S. aid but that could be jeopardized if the new president acquiesced to requests by President Trump’s lawyer, Rudy Giuliani, to investigate past corruption allegations involving Americans, including former Vice President Joe Biden’s family. Murphy boasted after the meeting that he told the new Ukrainian leader that U.S. aid was his country’s “most important asset” and it would be viewed as election-meddling and “disastrous for long-term U.S.-Ukraine relations” to bend to the wishes of Trump and Giuliani.

“I told Zelensky that he should not insert himself or his government into American politics. I cautioned him that complying with the demands of the President’s campaign representatives to investigate a political rival of the President would gravely damage the U.S.-Ukraine relationship. There are few things that Republicans and Democrats agree on in Washington these days, and support for Ukraine is one of them,” Murphy told me today, confirming what he told Ukraine’s leader. The implied message did not require an interpreter for Zelensky to understand: Investigate the Ukraine dealings of Joe Biden and his son, Hunter, and you jeopardize Democrats’ support for future U.S. aid to Kiev.

The Murphy anecdote is a powerful reminder that, since at least 2016, Democrats repeatedly have exerted pressure on Ukraine, a key U.S. ally for buffering Russia, to meddle in U.S. politics and elections. [..] As I have reported, the pressure began at least as early as January 2016, when the Obama White House unexpectedly invited Ukraine’s top prosecutors to Washington to discuss fighting corruption in the country. The meeting, promised as training, turned out to be more of a pretext for the Obama administration to pressure Ukraine’s prosecutors to drop an investigation into the Burisma Holdings gas company that employed Hunter Biden and to look for new evidence in a then-dormant criminal case against eventual Trump campaign chairman Paul Manafort, a GOP lobbyist.

[..] Biden threatened to withhold $1 billion in crucial U.S. aid to Kiev if Poroshenko did not fire the country’s chief prosecutor. Ukraine would have been bankrupted without the aid, so Poroshenko obliged on March 29, 2016, and fired Prosecutor General Viktor Shokin.At the time, Biden was aware that Shokin’s office was investigating Burisma, the firm employing Hunter Biden, after a December 2015 New York Times article. What wasn’t known at the time, Shokin told me recently, was that Ukrainian prosecutors were preparing a request to interview Hunter Biden about his activities and the monies he was receiving from Ukraine. If such an interview became public during the middle of the 2016 election, it could have had enormous negative implications for Democrats.

Read more …

Tulsi Gabbard is on the verge of making the October debate. They don’t want a repeat in November.

Democrats Announce Tighter Criteria For Fifth Presidential Debate (R.)

The Democratic National Committee on Monday announced new criteria for the fifth presidential debate in November, requiring candidates to meet one of two polling requirements and have 165,000 unique donors. Candidates must either receive 3 percent or more support in four national or early state polls or 5 percent or more support in two polls of the states that hold early presidential nominating contests: Iowa, New Hampshire, South Carolina or Nevada. They must show a minimum of 600 unique donors per state in at least 20 U.S. states, territories or the District of Columbia, the DNC said.


The new requirements promise to further cull the large Democratic field of 19 candidates seeking to challenge Republican President Donald Trump in the November 2020 election. Former Vice President Joe Biden has led most opinion polls so far, followed by U.S. Senators Elizabeth Warren and Bernie Sanders. The sprawling field has made it difficult for lesser-known candidates to register in the minds of Democratic voters, with several polling at 1 percent or less nationally. [..] Criteria for the September and October debates required donations from at least 130,000 people and support of at least 2% in four DNC-approved polls.

Read more …

Local bans on global networks?!

Google Wins Landmark Right-To-Be-Forgotten Case In Europe (BBC)

Europe’s top court has ruled that Google does not have to apply the right to be forgotten globally. It means that firm only needs to remove references to articles and other material from its search results in Europe – and not elsewhere – after receiving an appropriate request. The ruling stems from a dispute between Google and a French privacy regulator. In 2015, CNIL ordered the firm to globally remove links to pages containing damaging or false information about a person. The following year, Google introduced a geoblocking feature that prevents European users from being able to see delisted links. But it resisted censoring search results for people in other parts of the world.


And the firm challenged a 100,000 euro fine that CNIL had tried to impose. Google had argued that the obligation could be abused by authoritarian governments trying to cover up human rights abuses were it to be applied outside of Europe. The tech firm had been supported by Microsoft, Wikipedia’s owner the Wikimedia Foundation, the non-profit Reporters Committee for Freedom of the Press, and the UK freedom of expression campaign group Article 19, among others. ECJ adviser Maciej Szpunar had also concluded that the right to be forgotten be limited to Europe in a non-binding recommendation to the court earlier this year.

Read more …

An all-out attack on the Espionage Act.

US Government Moves To Block Alleged Drone Whistleblower’s Defense (SProof)

The United States government has moved to block Daniel Hale, a former U.S. Air Force language analyst, from presenting any evidence that he had “good motives” when he allegedly disclosed documents to a reporter that exposed a targeted assassination program involving armed drones. Yet, while the U.S. government hopes to ensure Hale cannot put on a whistleblower defense during his trial, Hale’s defense attorneys have directly challenged the constitutionality of the Espionage Act, arguing it violates the First Amendment. They also assert that the government is selectively and vindictively prosecuting Hale for his alleged act of dissent.

Hale was indicted on five counts on May 9. Three of the charges allege he violated the Espionage Act. One charge alleges he disclosed “communications intelligence” without authorization. The fifth charge alleges he stole “government property.” In October 2015, The Intercept published a “cache of secret documents detailing the inner workings of the U.S. military’s assassination program in Afghanistan, Yemen, and Somalia.” The media organization said the documents were provided by a whistleblower and offered “unprecedented glimpse into [President Barack] Obama’s drone wars.” They were called “The Drone Papers.” These are the documents that the government accuses Hale of disclosing without proper authorization to the public.

[..] There were only three prosecutions under the Espionage Act for the first 75 years that were “premised” on “leaks.” However, since 2009, there have been 18 prosecutions of media sources, according to Hale’s attorneys. President Barack Obama’s administration set the record for more leak prosecutions under the Espionage Act than all previous U.S. presidents combined, and the Obama Justice Department’s novel interpretations of the Espionage Act set the stage for President Donald Trump to launch a prosecution against Hale, as well as WikiLeaks founder Julian Assange, who is the first journalist to be charged with violating this particular law.

Read more …