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Debt Rattle DayX 2024

Feb 202024
 
 February 20, 2024  Posted by at 9:45 am Finance Tagged with: , , , , , , , , ,  49 Responses »


Vincent van Gogh Lane near Arles 1888

 

• Julian Assange Judge Previously Acted For MI6 (Dec.UK)
• Brandon, Rotting in the (White) House (Kunstler)
• Democratic Lawmaker Urges Vote Against Biden (Sp.)
• Biden’s Lies On Top Of Lies On Top Of Lies (Victor Davis Hanson)
• US Threatens to Veto New Gaza Ceasefire Resolution at UNSC (Antiwar)
• A Nuclear Power Cannot Lose In War (Medvedev)
• Putin Is The New Climate Change (Marsden)
• Euromaidan Triggered Ukraine’s Nine-Year War on Donbass (Sp.)
• Ukraine Used US Chemical Weapons Against Russian Troops – MoD
• Helping Crimea Recover From Decades Of Ukrainian Misrule (Scott Ritter)
• About Navalny’s Death (Lubos Blaha)
• Germany Gives Timeframe For Possible Russian ‘Attack’ On NATO – Bloomberg (RT)
• Czech PM Labels Protesting Farmers ‘Supporters Of Moscow’ (RT)
• Houthis Attacked UK Ship in Gulf of Aden, Vessel Severely Damaged (Sp.)
• 2024 Is the Last Year of Free Speech and Democracy in the Western World (PCR)

 

 

 

 

RFK Assange

 

 

Ai Weiwei

 

 

Yanis Julian

 

 

Waters

 

 

Assange DDN

 

 

Hillary

 

 

Liz Cheney

 

 

Udo

 

 

 

 

Eric Trump

 

 

 

 

Craig Murray syas he’s at the courthouse, but doesn’t know if he can attend the hearing. Julian doesn’t know either if he can attend his own hearing.

• Julian Assange Judge Previously Acted For MI6 (Dec.UK)

One of the two High Court judges who will rule on Julian Assange’s bid to stop his extradition to the US represented the UK’s Secret Intelligence Service (MI6) and the Ministry of Defence, Declassified has found. Justice Jeremy Johnson has also been a specially vetted barrister, cleared by the UK authorities to access top secret information. Johnson will sit with Dame Victoria Sharp, his senior judge, to decide the fate of the WikiLeaks co-founder. If extradited, Assange faces a maximum sentence of 175 years. His persecution by the US authorities has been at the behest of Washington’s intelligence and security services, with whom the UK has deep relations. Assange’s journalistic career has been marked by exposing the dirty secrets of the US and UK national security establishments. He now faces a judge who has acted for, and received security clearance from, some of those same state agencies.

As with previous judges who have ruled on Assange’s case, this raises concerns about institutional conflicts of interest. Exactly how much Johnson has been paid for his work for government departments is not clear. Records show he was paid twice by the Government Legal Department for his services in 2018. The sum was over £55,000. Justice Johnson became a deputy High Court judge in 2016 and a full judge in 2019. His biography states he has been “often acting in cases involving the police and government departments”. As a barrister, in 2007 he represented MI6 as an observer during the inquests into the deaths of Princess Diana and Dodi Al Fayed. Johnson worked alongside Robin Tam QC, previously described by legal directories as a barrister who “does an enormous amount of often sensitive work” for the UK government.

Johnson was appointed to “sit in on the hearing” At the time, Foreign Office sources could not recall “a previous occasion when MI6 [had] appointed lawyers to an inquest”. MI6 was reportedly “so concerned by possible revelations” during the inquest that Johnson was appointed to “sit in on the hearing”. He reportedly received a brief from MI6 in advance of the inquest, and was tasked with providing “such assistance as the coroner may require”. Johnson has also represented the UK Ministry of Defence (MoD) on at least two occasions. In 2013, he acted for the department during the high-profile Al-Sweady inquiry, which looked into allegations that “British soldiers torture and unlawfully killed Iraqi prisoners” in 2004. The MoD’s lawyers said the Iraqi allegations were a “product of lies” and that those making the claims “were guilty of a criminal conspiracy”.

Johnson argued there was “compelling and extensive and independent forensic evidence” to refute the case. The five-year inquiry, which cost around £25m, exonerated the British troops. Johnson also acted for the MoD in 2011, in an appeal case against Shaun Wood, a Royal Air Force (RAF) serviceman. Wood had the previous year won his case claiming compensation against the MoD, arguing his neurological condition akin to Parkinson’s disease was caused by exposure to organic solvents while serving in the RAF. The judge upheld Wood’s claim against the MoD, which had admitted a breach of duty but disputed that this had caused the damage claimed by him.

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“What have they got left? AI-contrived photos of Mr. Trump having sex with a manatee in the intercoastal waterway off Mar-a-Lago?”

• Brandon, Rotting in the (White) House (Kunstler)

We’re also informed in recent days by the Department of Justice that “Joe Biden” is not mentally competent to answer for anything in a court of law, should someone inquire into the signal irregularities emerging from the fugitive annals of his long career. Of course, “Joe Biden” running for reelection is one of the greatest gags ever put over on the American public. But more astounding yet is that half the country persists in pretending to believe it. They are egged on in every possible way by persons in high places of government fearful of going to prison if the Democratic Party loses its grip on the levers of power.

Since “Joe Biden” is not actually calling the shots, one naturally wonders who is responsible for all the dubious achievements of the past three years. I guess we’ll find out when Mr. Trump wins that election in November, an outcome increasingly guaranteed unless “Joe Biden” (or, let’s face it, our Intel Community) takes the final decisive step of bumping off the Golden Golem of Greatness. What have they got left? AI-contrived photos of Mr. Trump having sex with a manatee in the intercoastal waterway off Mar-a-Lago?

In New York City, the Woke lunatics did a victory dance after Judge Arthur Engoron, beaming his Joker smile, laid a $350-million fine on Mr. Trump for conducting a set of normal real estate transactions with a bank that profited from doing business with him. Many are still trying to figure out how that amounts to a crime of any sort. Don’t suppose that the check is in the mail, though. There is an appeals process that leads, you may be sure, to a dismissal of that inane judgment and the puerile hypotheticals that the case derived from. And, by and by, you also might expect a countersuit for malicious prosecution when all that smoke clears. New York Attorney General Letitia James, lacking impulse control, is for the moment enjoying the fulfillment of her campaign promise to “get Trump.” Waiting to see how much she enjoys losing her law license in the days to come.

Every reaction provokes an equal and opposite reaction, Newton’s Third Law states. It manifested shortly after Judge Engoron’s end zone dance when a call went out over the Internet for America’s truckers to refuse loads inbound to New York City. We’ll have to stand by to see how that develops. No more bok choy, Texas beef, or Meyer Lemons for you, “progressive” denizens of the Five Boroughs! Embrace the suck! The genius part is that, unlike the 2022 Canadian truckers’ action in Ottawa, the American truckers will not be cluttering up New York’s streets with their rigs, license plates on view, leaving them vulnerable to such pranks as the shutdown of their bank accounts. All they’ll do is sit innocently at home back in Kentucky and Missouri, enjoying a break from the rigors of the highway. Is that a crime? Arguably no more than doing a normal real estate deal in good faith with a willing lender was a crime.

The truckers have promised to include Washington DC next in their delivery boycott. The K-Street lobbying gang won’t be buying any influence for a while over platters of grilled branzino and Mariscos Molcajete. Maybe there will be a few Cliff Bars left in the Farragut Square 7-Eleven and they can do business in their cars. As for “Joe Biden,” his minders have probably laid in enough Ensure for a well-meaning elderly man with a poor memory to get by for a few weeks — until the magic moment when, alas, he must needs be thrown under the bus of expediency to keep their game going.

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“..Trump won Michigan in 2016 with a margin of just 10,700 votes; Michigan has an Arab American population of some 211,000..”

• Democratic Lawmaker Urges Vote Against Biden (Sp.)

In the latest example of opposition to US President Joe Biden from within his own party, Democratic Representative Rashida Tlaib publicly urged Michigan voters to oppose the president in the state’s primary election next week. Rep. Tlaib made the call Saturday in a video posted by the Listen to Michigan campaign on the X social media platform. Listen to Michigan is an organization of pro-Palestine activists in the state organizing opposition to Biden’s support for Israel’s deadly campaign in Gaza, which has killed some 29,000 people. “It is important as you all know to not only march against the genocide, [to] not only make sure that we’re calling our members of Congress and local electeds and passing city resolutions all throughout our country, it is also important to create a voting bloc – something that is a bullhorn to say ‘enough is enough,” said Tlaib, the first Palestinian American member of US Congress. “We don’t want a country that supports wars and bombs and destruction,” she added. “We want to support life. We want to stand up for every single life killed in Gaza.”

Tlaib and other activists are urging Democrats to vote “uncommitted” in the party’s presidential primary election next Tuesday rather than supporting Biden or any of his challengers. Activists portray the move as a show of opposition to the president’s handling of the Palestine-Israel crisis. Biden has attempted to express modest criticism of Israel through leaked statements to the press alleging consternation with Israeli Prime Minister Benjamin Netanyahu, but the US president has continued to back the country with the frequent provision of financial support and lethal aid. In December the Biden administration even bypassed Congress to rush an “emergency” arms shipment to Israel, with Secretary of State Antony Blinken affirming the move was necessary in response to an alleged imminent security threat to the United States.

Observers have noted Blinken could be impeached on perjury charges for the dubious claim, which is unlikely to generate opposition given the significant influence of AIPAC and other Zionist groups in US politics. “This is the way you can raise our voices,” Tlaib continued. “Don’t make us even more invisible. Right now we feel completely neglected and just unseen by our government. If you want us to be louder then come here and vote ‘uncommitted.’” Tlaib made the statement standing outside of an early voting location in Dearborn, a major hub of the Arab American community in Michigan. Pro-Palestine activists have warned Biden that his unrelenting support for Israel could cost him reelection in November, with Michigan representing a crucial swing state for the president. Former President Donald Trump won Michigan in 2016 with a margin of just 10,700 votes; Michigan has an Arab American population of some 211,000.

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X thread.

“Well apart from his cognitive decline, Biden himself is a pathological prevaricator.”

• Biden’s Lies On Top Of Lies On Top Of Lies (Victor Davis Hanson)

In the last week, Joe Biden had flat-out lied in the most egregious fashion in so many ways. In his disastrous press conference of last week, he claimed that special counsel Hur’s report exonerated him. Anyone who read the findings concluded exactly the opposite. According to Hur, Biden would have been indicted for his willfully unlawful removal of classified documents except for two reasons: one, the Department of Justice protocols apparently prohibit indicting a sitting president; and two, Biden suffers such cognitive decline that the special counsel believes a jury would more likely pity him into acquittal than convict him of what he is certainly guilty. He lied that Hur brought up his son’s death (“How in the hell dare he raise that?”).

In fact, Biden as is his serial wont, raised it, and does on a regular basis, usually deliberately and further lying that his son died while on military duty in Iraq (he died six years subsequently as a civilian in Walter Reed Hospital), and always contorting the death to enhance his own greater sense of grieving. He lied that he notified authorities when he discovered that he unlawfully had taken out classified documents to various residencies (perhaps for over some 30 plus years during his senatorial and Vice Presidential tenures). In fact, Biden only admitted that he had apparently for decades unlawfully removed classified files in 2017, to his ghostwriter in a recorded tape, and then he hid that fact and kept quiet for five years—until his administration’s special counsel began to investigate Trump for the same thing. Note the worried ghostwriter erased the tape of Biden’s confession as soon as he learned there was an appointment of a special counsel. (Destroy evidence much?)

He lied that the files bore no classification marks. In fact, they did and do. He lied that he kept the files safe in a secure location. In fact, the special counsel report includes several photographs of the Biden garage, in which there were sloppily stored, open, and torn boxes of classified documents amid a complete mess of junk. He lied that Trump’s once secure border is somehow responsible for Biden’s intentionally open border. He just lied that Trump caused the 2022 Putin invasion of Ukraine on Biden’s watch that never occurred on Trump’s. It is not enough that the Biden team must wildly lie daily that the non-compos-mentis President is dynamic, impressive in his recall and cognition, and stands out as the most astute mind in most of this meetings. Well apart from his cognitive decline, Biden himself is a pathological prevaricator.

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“The US has already used its veto power on the Security Council to veto two resolutions calling for an end to the onslaught..”

• US Threatens to Veto New Gaza Ceasefire Resolution at UNSC (Antiwar)

The US is threatening to veto a resolution calling for a ceasefire in Gaza at the UN Security Council as the US continues to provide political cover for the Israeli massacre of Palestinians. US Ambassador to the UN Linda Thomas-Greenfield said in a statement that if the resolution, which is being drafted by Algeria, was brought to a vote, it would not be adopted. Thomas-Greenfield justified US opposition to a ceasefire by pointing to US efforts to push for a new hostage deal between Israel and Hamas. However, Israeli Prime Minister Benjamin Netanyahu vetoed hostage talks last week, and Qatar, the mediator of the negotiations, said Saturday that things were not looking “promising.” Thomas-Greenfield said Algeria’s resolution would “run counter” to US efforts on the hostage deal. “We have communicated this concern repeatedly to our colleagues on the Council.

For that reason, the United States does not support action on this draft resolution. Should it come up for a vote as drafted, it will not be adopted,” she said. The US has already used its veto power on the Security Council to veto two resolutions calling for an end to the onslaught. The Biden administration has also dismissed the International Court of Justice’s ruling that it’s “plausible” Israel is committing genocide and continues to provide unconditional military support for the slaughter. Thomas-Greenfield said the resolution would get in the way of US “diplomacy” related to pushing for a hostage deal. “It is critical that other parties give this process the best odds of succeeding, rather than push measures that put it — and the opportunity for an enduring resolution of hostilities — in jeopardy,” she said.

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X thread.

• A Nuclear Power Cannot Lose In War (Medvedev)

“Some time ago I wrote in my Telegram channel: “A nuclear power cannot lose in war.” Immediately, sniveling Anglo-American lackeys popped up with hysterical cries: “No, that’s not true at all, even the USA has lost wars.” This is an obvious lie. I wasn’t talking about Vietnam, Afghanistan, or dozens of other places where Americans waged colonial wars of conquest. I was writing about historical wars where defending one’s Homeland occurs. Defending one’s land, people, and values. These are the wars nuclear powers have never lost to anyone. Why am I writing about this again? Well, I’m reading the words of various Pistoriuses with shaps, and I’m thinking: are they really such idiots or are they just pretending? “The world cannot afford Russia’s victory in this war.” How so? Here’s how.

Okay. Let’s imagine for a moment that Russia lost, and “Ukraine with its allies” won. What would such a victory mean for our enemies – the neo-Nazis and their Western sponsors? Well, as it has been said many times, a return to the borders of 1991. That is, the direct and irreversible collapse of present-day Russia, which includes new territories according to the Constitution. And then a furious civil war with the final disappearance of our country from the world map. Tens of millions of victims. The death of our future. The collapse of everything in the world. And now the main question: do these idiots really believe that the Russian people will swallow such a division of their country? That we will all reason approximately like this: “Well, alas, it happened. They won. Present-day Russia has disappeared. It’s a pity, of course, but we have to continue living in a collapsing, dying country, because nuclear war is much scarier for us than the death of our loved ones, our children, our Russia…”? And in such a case, will the leadership of the state headed by the Supreme Commander-in-Chief of the Armed Forces of the Russian Federation hesitate to make the most difficult decisions?

So here’s the thing. It will be completely different. The collapse of Russia will have much more terrifying consequences than the results of a normal, even the most protracted war. Because attempts to return Russia to the borders of 1991 will lead to only one thing. To a global war with Western countries using all the strategic arsenal of our state. Towards Kyiv, Berlin, London, Washington. Towards all the other beautiful historical places long targeted by our nuclear triad. Will we have the courage for this, if the disappearance of our thousand-year-old country, our great Motherland, is at stake, and the sacrifices made by the Russian people over the centuries will turn out to be in vain? The answer is obvious. So it’s better to let them return everything before it’s too late. Or we’ll take it back ourselves with maximum losses for the enemy. Like Avdeevka. Our warriors are heroes!”

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“..von der Leyen laments the Russian president’s attempt to “blackmail” Europe with fossil fuels while at the same time saying that whatever’s left of them can’t disappear fast enough. If that seems like a contradiction, it is.”

• Putin Is The New Climate Change (Marsden)

It’s hard to tell if she’s blaming him or crediting him, but European Commission President Ursula von der Leyen told a meeting of the Paris-based Organization of Economic Cooperation and Development (OECD) on February 13th that “[Russian President Vladimir] Putin’s attempt to blackmail our union has utterly failed. On the contrary, he really pushed the green transition.” [..]

Germany is the canary in the coal mine for the EU green transition, having gone all-in, and clearly wind and solar weren’t ready for prime time when the cheap Russian gas tap was effectively turned off – first through the EU’s own anti-Russian sanctions that complicated payment for sales, then when it was blown up altogether. This is why the German economy is taking a hit, with the country’s own national statistics office now qualifying the economic environment as “marked by multiple crises,” as last year’s GDP dropped by 0.3%, with high energy prices as one of the top contributing factors. If mighty gusts of wind could singlehandedly prevent German deindustrialization as industry bails to less fantasy-powered jurisdictions, then Queen Ursula’s speeches alone would have long since done the job. In this latest one, von der Leyen laments the Russian president’s attempt to “blackmail” Europe with fossil fuels while at the same time saying that whatever’s left of them can’t disappear fast enough. If that seems like a contradiction, it is.

The truth is that Putin just served as a convenient pretext for something that Brussels had long wanted to do anyway, but was prevented from doing because of how it feared the average EU citizen would react. It’s now obvious what the impact of the green transition is on inflation as energy costs have skyrocketed. If the EU had pulled a stunt like this by simply caving to Washington’s relentless insistence that it renege on Nord Stream pipeline gas, telling Europeans that it was pivoting to far pricier US liquified natural gas – at least until it could figure out how to use the basic elements of earth to live like a developed country using tactics from the Stone Age – people would have gone ballistic and wondered what the heck was really going on. Putin came along just in time to rescue the transition from the growing skepticism of the climate-change excuse, fueling popularity for the right-wing populist parties calling the Brussels establishment out for its use of it to manipulate citizens into compliance with their agenda.

What agenda, exactly? Profits, first and foremost. Ask the farmers currently protesting all across Europe against a heavy-handed Brussels bureaucracy put into place that increasingly controls their production using everything from climate change policies that put precious farmland into the state’s hands through buyouts of climate change policy offenders, to pro-Ukraine trade policies that crush domestic production in favor of Ukraine’s Western-backed corporate Big Farming, like Bayer, Monsanto, Cargill, and DuPont. When the Ukraine conflict went hot, Queen Ursula just substituted Putin for the climate-change excuse, then kept hammering the need to plough cash into renewable energy projects that just happen to be dominated by European and American big finance and their investors, like US defense contractor General Electric, Germany’s BASF, Shell, and BP. Von der Leyen dropped a hint herself that all this is about not wanting to share the pie outside of her coffee klatch.

“The old fossil fuel economy is all about dependencies. The new clean energy economy is all about inter-dependencies,” she said, pointing out that “clean energy can be produced anywhere.” And that means being able to keep the profits among your friends and supporters. Interesting that she used the term “inter-dependencies” rather than “independence.” You’d think that national sovereignty would be a good thing. But apparently not when it could mean a country being able to tell Brussels to bugger off. Both climate change and national security are profitable causes, first and foremost. They should just be honest about that rather than trying to hard-sell it with virtue-signaling and bogeymen. But it’s the increased authoritarianism to control emissions or the ubiquitous “Russian threat” by introducing policies and tools that can also be used to quash domestic dissent, that are even more troubling. And for Brussels that seems to be a nice bonus.

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“It all started back in 2004, when the first Maidan, dubbed the Orange Revolution, and [the West’s] interference in the presidential elections happened. I think at that moment everyone realized exactly what was happening.”

• Euromaidan Triggered Ukraine’s Nine-Year War on Donbass (Sp.)

The “Russian Spring” in Donbass was a grassroots movement that began when the Euromaidan protests were raging in Kiev, Alexander Matyushin, call sign “Varyag,” former commander of the “Varyag” detachment and war correspondent, told Sputnik. The protests started on November 21, 2013, with up to 2,000 protesters gathering in Kiev’s central square, Maidan Nezalezhnosti (Independence Square), after then-President Viktor Yanukovich refused to sign an EU association agreement. “Nikolai Azarov, Yanukovich’s closest aide and adviser, at the 11th hour calculated that switching to European standards would indebt Ukraine at a scale one had never imagined,” Matyushin said. “The transition envisaged changing everything, starting from sockets to railway tracks, everything had to be rebuilt. [The Yanukovich government] concluded it was unprofitable and refused [to sign the agreement with the EU – Sputnik]. After that, students took to the streets and were dispersed by Berkut on camera, which caused a wave of indignation in Kiev. From that point Euromaidan started to gain momentum.”

“Historically, the southeast [of Ukraine] has always gravitated towards Russia,” Matyushin said. He recalled that in 1919, Vladimir Lenin, then head of the Soviet government, integrated Donbass into the Ukrainian Socialist Republic against the will of the region’s population. After the collapse of the USSR, the 1994 plebiscite in Donbass concerning the region’s federalization and making Russian a second official language was similarly ignored by the then-Ukrainian government. By the time of Euromaidan, the southeastern and northwestern parts of Ukraine had already been divided over the future of the country: the former sought to integrate with the EU, while the latter wanted to develop economic ties with Russia, according to Matyushin. “The southeast included the territories from Kharkov to Odessa, the so-called Novorossiya, along with Crimea. And separately, there was the northwest, where these Ukrainian [nationalist] tendencies were strong,” he said.

The split became especially visible in 2004, when the Western-backed Orange Revolution on Maidan square brought Viktor Yushchenko to power in Kiev, the war correspondent pointed out. “And all the economic vicissitudes starting from 2004, when there was a severance of relations [between Russia and Ukraine], i.e. the gas war, the sugar war, etc., hit Donbass very hard because its industries relied, in particular, on cheap Russian gas.” In 2005, the Yushchenko government unilaterally initiated a review of tariffs for the transit of Russian gas to Europe through the territory of Ukraine, which led to the termination of a long-term Russo-Ukrainian gas contract that had fixed the fuel price for Kiev at $50 per 1,000 cubic meters until 2010. The increase in gas price dealt a blow to Donbass, which “blamed the Western Ukraine protege Yushchenko” for the economic turndown, Matyushin noted.

Another driver for the split was the glorification of WW2-era Nazi collaborators by the Yushchenko government. Yushchenko openly praised the Organization of Ukrainian Nationalists (OUN) and Ukrainian Insurgent Army (UPA)* responsible for the ethnic cleansing of Jews, Russians, Roma, and Poles during Nazi Germany’s occupation of Ukraine and granted the titles of Hero of Ukraine to OUN-UPA leaders Roman Shukhevych and Stepan Bandera in 2007 and 2010, respectively. He also declared Ukrainian NATO membership a priority in 2008. According to the war correspondent, over 10 years – from 2004 to 2014 – the ideological and political rift between western and eastern Ukraine deepened dramatically. The 2014 Euromaidan events became the catalyst for the final division, he underscored.

“We had understood from the very beginning that everything that happened on Maidan could not lead to anything good,” Maya, warrant officer and commander of the support platoon of the 1st Slavic Brigade, told Sputnik. “I think the majority [of Ukrainians] also knew and understood that the West was involved in this. It was not the first time that the West had interfered in the domestic affairs of our state. It all started back in 2004, when the first Maidan, dubbed the Orange Revolution, and [the West’s] interference in the presidential elections happened. I think at that moment everyone realized exactly what was happening.”

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Surprised?

• Ukraine Used US Chemical Weapons Against Russian Troops – MoD

Russia has recorded cases of Ukrainian troops using US chemical munitions during the special military operation, Lt. Gen. Igor Kirillov, the head of the radiation, chemical and biological defense troops of the Russian armed forces, said on Monday. “During the special military operation, cases of US chemical weapons used by the armed forces of Ukraine were recorded,” Kirillov told a briefing The Ukraine military used US-made chemical grenades dropped from UAVs several times against the Russian armed forces in 2023, and this January, Ukrainian units used an unknown toxic chemical against the Russian troops, which led to burns, nausea and vomiting. “Ukraine, with the complicity of Western countries, does not limit itself to the use of non-lethal chemicals, actively using chemicals from the list. I would like to draw attention to the statement by representatives of the Ukraine armed forces about the availability of such compounds at their disposal, including analogues of the combat toxic substance Tabun, which is included in List 1 of the Convention [on the Prohibition of the Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction],” Kirillov said.

The head of the Kherson region administration, Saldo, was poisoned with ricin in August 2022, the substance was detected in biomedical samples, the head of the Russian Chemical Defense Forces, Kirillov, has said. The head of the Lugansk People Republic Leonid Pasechnik in December 2023 received a severe poisoning with phenolic compounds, said the head of the RHBZ troops Kirillov. Before that, Pasechnik’s poisoning had not been reported. The Russian Defense Ministry reported on the facts of the use of poisonous substances by the Ukrainian military:
• On August 19, 2022, a toxic chemical, an analog of the warfare poisoning agent “Bi-Zet,” was used.
• A similar substance was found on January 28, 2024, during operational-search activities in a cache in Melitopol. It was in vials labeled “Biosporin”.
• On February 8 and 16, 2023, cases of using hydrocyanic acid with drones were registered.
• On January 31, 2024, the Ukrainian Armed Forces used an unknown toxic chemical that caused burns. Analysis showed the presence of a compound known as anthraquinone.
• On December 28, 2023, American-made gas grenades loaded with a substance called “CS” capable of causing skin burns and respiratory paralysis were dropped in the area of Krasny Liman.
• On June 15, 2023, a drone carrying a plastic container with a mixture of chloroacetophenone and chloropicrin was used against Russian troops near Rabotino.

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“Ukraine effectively destroyed Crimea’s agricultural industry..”

• Helping Crimea Recover From Decades Of Ukrainian Misrule (Scott Ritter)

As the Russian military operation against Ukraine approaches its third year, the focus on the ongoing conflict has allowed another anniversary to go relatively unnoticed – it’s now around ten years since the violent events in Kiev’s Maidan square that put in motion the circumstances which precipitated the current conflict. Over the course of five days, from February 18 to 23, 2014, neo-Nazi provocateurs from the Svoboda (All Ukrainian Union ‘Freedom’) Party and the Right Sector, a coalition of far-right Ukrainian nationalists who follow the political teachings of Stepan Bandera and the Organization of Ukrainian Nationalists, engaged in targeted violence against the government of President Viktor Yanukovich. It was designed to remove him from power and replace him with a new, US-backed government. They were successful; Yanukovich fled to Russia on February 23, 2014.

Soon thereafter, the predominantly Russian-speaking population of Crimea undertook actions to separate from the new Ukrainian nationalist government in Kiev. On March 16, 2014, the Autonomous Republic of Crimea and the city of Sevastopol, both of which at that time were legally considered to be part of Ukraine, held a referendum on whether to join Russia or remain part of Ukraine. Over 97% of the votes cast were in favor of joining Russia. Five days later, on March 21, Crimea formally became part of the Russian Federation. Shortly afterwards, Ukraine built a concrete dam on the North Crimean Canal, a Soviet-era conduit transporting water from the Dnieper River that provided around 85% of the peninsula’s water supply. In doing so, Ukraine effectively destroyed Crimea’s agricultural industry. Then, in November 2015, Ukrainian nationalists blew up pylons carrying power lines from Ukraine to Crimea, thrusting the peninsula into a blackout that prompted a declaration of emergency by the regional government.

The Ukrainian assault on Crimea’s water and electricity was merely an extension of the lack of regard shown to the Crimean population during the two-plus decades that Kiev ruled the peninsula. The local economy was stagnant, and the pro-Russian locals were subjected to a policy of total Ukrainization. In general, the Gross Regional Product (GRP) of Crimea was well below the average of Ukraine (43.6% less in 2000, and 29.5% less in 2013.) In short, the Kiev government made no meaningful attempt to develop Crimea culturally or infrastructurally. The Crimean Peninsula was in a state of decay perpetrated by Ukrainian governments. The damming of the North Crimean Canal and the destruction of the electrical transmission lines were simply the radical expression of the indifference shown by Kiev.

In the years that followed the return of the peninsula to Russian control, there has been a gradual improvement in the economy of Crimea. The Russian government undertook a $680 million program to bolster water supplies which involved repairing long-neglected infrastructure, drilling wells, adding storage capacity, and building desalination plants. While this effort wasn’t sufficient to save much of Crimea’s agriculture, it did provide for the basic needs of the population. The Russian government also constructed the Crimean ‘Energy Bridge’, laying down several undersea energy cables across the Kerch Strait that effectively compensated for the loss of power brought on by the destruction of the Ukrainian power lines.

But the greatest symbol of Russia’s commitment to the people of Crimea was the construction of a $3.7 billion, 19-kilometer-long road-and-rail bridge connecting Krasnodar Region in southern Russia with the Crimean Peninsula. The bridge is the longest in Europe. Construction began in 2016, and it was opened for car traffic in a little more than two years. It has become a symbol of pride for the Russian people and their leadership; President Vladimir Putin personally drove across the bridge during its formal opening ceremony in 2018. The rail line was opened to passenger traffic in 2019, and freight traffic in 2020. The construction of the Crimean Bridge coincided with the building of the Tavrida Highway, a 250-kilometer, $2.5 billion four-lane road connecting the Crimean Bridge with the cities of Sevastopol and Simferopol. Construction of the road began in 2017 and is still ongoing.

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X thread. Lubos Blaha is Vice Speaker of the Slovak Parliament.

• About Navalny’s Death (Lubos Blaha)

It’s sad, of course, that the man died, but it’s strange that the whole West is now cheerfully promoting conspiracy theories here, and his death has not even been investigated. Putin definitely didn’t need his death, Navalny would have had to spend the next decades in prison and he didn’t threaten anyone politically. According to officials, the cause of his death was a blood clot. We don’t know anything else, the case is being investigated, everything else is conspiracies. I will not pretend that I will cry all night because of Navalny now – thousands of children are dying in Gaza and all the media spit on them, they will now talk on air for a week only about this one American agent.

They better look at what the British and Americans are doing to Julian Assange, who is in custody on the verge of death in this glorious West, which prides itself on freedom of speech and protection of journalists. Let them remember how they remained silent when the American journalist Gonzalo Lira, who criticized Zelensky, recently died in Ukrainian custody. They didn’t even remember about it. And today they will moralize about Navalny’s death. Again, it’s always sad when a person dies, but this is pure hypocrisy. – FRWL reports

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”I can’t predict if and when an attack on NATO territory might occur,”[..] “But it could happen in five to eight years..”

• Germany Gives Timeframe For Possible Russian ‘Attack’ On NATO – Bloomberg (RT)

Russia may attack NATO within the next five to eight years, German Defense Minister Boris Pistorius has claimed in an interview with Bloomberg. Pistorius was speaking on the sidelines of the Munich Security Conference over the weekend. NATO leaders and defense officials met in Germany to discuss current geopolitical challenges, in particular the situation in Ukraine and military aid to Kiev. ”I can’t predict if and when an attack on NATO territory might occur,” Bloomberg quoted Pistorius as saying. “But it could happen in five to eight years,” he claimed. According to the outlet, EU countries are increasingly alarmed over Russia’s success on the battlefield, the potential reduction in US support for the region, and the fact that they are not prepared for an attack.

On Saturday, Russian forces liberated the key town of Avdeevka in a significant battlefield victory, inflicting heavy casualties on Ukrainian troops. The Ukrainian defeat came as a $60 billion emergency aid package for the country remains held up in the US Congress. “The problem with Europe is it doesn’t provide enough of a deterrence on its own because it hasn’t taken enough of an initiative,” J.D. Vance, a Republican senator and an opponent of Ukraine aid said in Munich, as quoted by Bloomberg. “The American security blanket has allowed European security to atrophy,” he added.

German tabloid Bild reported last month that the German Defense Ministry was developing a plan of action in case Russia attacks a NATO state following a victory in its conflict with Ukraine. In December, Bild cited the intelligence service of a European country as saying that Russia could attack Europe in the winter of 2024-25. Russian President Vladimir Putin stressed the same month that Russia has never had plans to attack NATO. The fears of a ‘Russian threat’ in the EU are being fueled by the US, as Washington fears losing its dominance on the European continent, Putin said.

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Idiot.

• Czech PM Labels Protesting Farmers ‘Supporters Of Moscow’ (RT)

Czech Prime Minister Petr Fiala has claimed farmers protesting against EU agriculture policies, environmental requirements and high energy prices are “supporters of Russia”. On Monday, hundreds of tractors blocked off sections of Prague and disrupted traffic outside the country’s Agriculture Ministry as demonstrators demanded that the EU’s Green Deal, which calls for regulations on the use of certain chemicals and greenhouse gas emissions, be rejected. The farmers have argued that the Brussels’ proposals place a heavy burden on their businesses, making products more expensive and less competitive, especially when compared to non-EU imports, such as those coming from Ukraine.

In a post on X (formerly Twitter), however, Fiala dismissed the demonstration and suggested that the farmers who took their tractors to Prague on Monday have “little to do with the fight for better conditions for farmers.” “The demonstration is organized by people who, for example, do not hide their support for the Kremlin and pursue goals other than the interests of farmers,” Fiala wrote, adding that the Czech government would only deal with those who “really represent farmers and talk together about what our agriculture needs.” He also noted that Monday’s protests in the Czech capital were not organized by the country’s largest farmers organizations, such as the Agrarian Chamber, the Agricultural Union, and the Association of Private Agriculture.

The three groups have announced plans to hold a separate demonstration against the EU’s green policies on Thursday in a joint action with farmers’ associations from other EU member states. The Agrarian Chamber has stated that farmers will lead their tractors and other machinery in convoys to the Czech border, but have stressed that the demonstration would be symbolic and will not interfere with the operation of the border. Similar protests have swept the EU in recent months, taking place in countries like Poland, France, Spain, Italy, Belgium, Hungary, Bulgaria, Latvia, and Slovenia. Demonstrators have been demanding more government aid for the agriculture sector, less bureaucracy from Brussels, as well as tighter controls on imports from non-EU countries.

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“As a result of the extensive damage the ship suffered, it is now at risk of potential sinking in the Gulf of Aden..”

• Houthis Attacked UK Ship in Gulf of Aden, Vessel Severely Damaged (Sp.)

Yemen’s Houthi movement, also known as Ansar Allah, has attacked a UK Rubymar cargo ship in the Gulf of Aden, Houthi military spokesman Yahya Saree said on Monday, adding that the vessel was severely damaged.”The Naval forces of the Yemeni Armed Forces carried out a specific military operation, targeting a British ship in the Gulf of Aden, ‘RUBYMAR,’ with a number of appropriate naval missiles. Among the results of the operation were the following: The ship suffered catastrophic damages and came to a complete halt. As a result of the extensive damage the ship suffered, it is now at risk of potential sinking in the Gulf of Aden,” Saree said in a statement on Telegram. The Yemeni air defenses were also able to shoot down a US-made Drone, MQ9, “with a suitable missile while it was carrying out hostile missions against our country on behalf of the Zionist entity,” the spokesman added.

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“our” government in Washington is financing the replacement of American Democracy subject to the will of the people with the government’s protection of the elite institutions..”

• 2024 Is the Last Year of Free Speech and Democracy in the Western World (PCR)

Tyranny is easy to establish over peoples who have confidence in their Constitutional rights and integrity of their institutions. The more patriotic the population is, the more susceptible it is to deception and betrayal by government. Try telling patriots what is happening to them, and they will call you a commie for speaking badly about their beloved country. Christian evangelicals have no opposition to the evil that is engulfing us, because they have been brainwashed that they will escape it by being wafted up to Heaven. The growth of evil is actually their escape from a sinful world into Heaven. The more evil, the sooner their escape. For most of the rest, liberal interventionists and hegemonic neoconservatives have taught that America is exceptional and indispensable, so how can anything go wrong.

Combine these awareness-blockers with the fact that uncomfortable truths are a bad news turnoff, and that censorship is being established as a national security matter with the argument that it makes us safe and “protects democracy.” Consequently, the criminalization of truth is rushing ahead. Even the word “truth” is slated to become a hate word that cannot be spoken. Any information that you have saved that helps you to understand the tyranny that is engulfing us should be stored in thumb drives and not in the cloud as all information undermining of the “consensus-building institutions” will be consigned to the memory hole. [..] Note: The Atlantic Council, one of the main anti-democratic “consensus-building (false narrative) organizations,” is possibly associated with the Burisma/Hunter Biden scandal.

Burisma, a Ukrainian company, put Hunter Biden on its board and paid him large sums of money for his father’s protection against prosecution of the company by Ukrainian authorities. US Vice President Biden actually admitted on TV, indeed he was proud of it, that he used billions of dollars in US taxpayers money to threaten Ukraine to withhold the US aid unless Ukraine fired the prosecutor, an offer Ukraine could not refuse. Atlantic Council board members Sally Painter is under investigation by the US Justice (sic) Department for illegal lobbying on behalf of Burisma. She and former Atlantic Council board member Karen Tramontano created a partnership between the Atlantic Council and Burisma. Burisma contributed $300,000 to the Atlantic Council. Perhaps it was the purchase price for Burisma officials to speak at Atlantic Council forums and for prestigious Atlantic Council members to speak at a Burisma conference in Ukraine in 2018. All of this to show American protection of the company to Ukrainian prosecutorial authorities.

In 2021 the United Arab Emirates Embassy donated more than $1 million to the Atlantic Council, and the UAE’s Ministry of Foreign Affairs added another $100,00-250,000. This might have been the purchase price for the Atlantic Council to use its influence to have the UN choose the UAE for the location of its 2023 climate change conference. Apparently, the Atlantic Council did not make the required or proper disclosures of the UAE’s donations. The Atlantic Council, a principal member of the anti-democratic censorship industry is supported by the hapless, unaware American taxpayers by grants of taxpayer’s money from the Departments of Defense, State, and Energy and by the US Agency for International Development. Thus, it is clear that “our” government in Washington is financing the replacement of American Democracy subject to the will of the people with the government’s protection of the elite institutions that have changed the definition of democracy to mean the service of their agendas.

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Elon law

 

 

 

 

Deep sleep

 

 

 

 

Covers
https://twitter.com/i/status/1759649058069623161

 

 


I said no pictures!

 

 

 

 

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

 

 

 

 

 

Debt Rattle February 7 2024

Feb 072024
 
 February 7, 2024  Posted by at 9:50 am Finance Tagged with: , , , , , , , , , ,  72 Responses »


Claude Monet Houses of Parliament (Sun Breaking through the Fog) 1904

 

• Trump Immunity Denied By DC Appeals Court In Election Case (ZH)
• Tucker Carlson Reveals Putin Interview Plans (RT)
• Tucker Carlson Reveals Elon Musk’s Putin Interview Pledge (RT)
• Tucker Carlson’s Exclusive Interview With Vladimir Putin – Full Transcript (LM)
• NYT Fantasy: Germany Gearing Up for Military Confrontation with Russia (PCR)
• Biden Threatens To Veto GOP Israel Aid Bill (RT)
• Zelensky To Fire His Top General’s Deputies – MP (RT)
• Ukraine’s Top General Sparing Neo-Nazis From Frontline Slaughter (RT)
• Lvov May Become Ukraine’s New Capital (Sp.)
• Sweden To Close Nord Stream Sabotage Probe – German Media (RT)
• NYT’s Friedman Hits New Low With Animalization of Arabs, Iranians (Juan Cole)
• Western Spin Doctors Dehumanize Select Peoples To Justify War (Bowes)
• Gold & Silver Fight Tyranny – Catherine Austin Fitts (USAW)
• Why Burn Books When You Can Bury Them? (Turley)
• America Is Undergoing Genocide (Paul Craig Roberts)

 

 

 

 

Trump pathetic
https://twitter.com/i/status/1754910639565263099

 

 

 

 

Tucker RFK
https://twitter.com/i/status/1754923481957871793

 

 

RFK

 

 

 

 

I’m trying to follow the logic here. It’s not easy.

“..the charges relate to official acts performed while he was president..”

“..”For the purpose of this criminal case, former President Trump has become citizen Trump..”

 

“If POTUS doesn’t have immunity they’ll be incapable of action for fear of future partisan reprisal..”

“Two of the judges on the panel, J. Michelle Childs and Florence Pan, were appointed by President Joe Biden. The third, Karen LeCraft Henderson, was appointed by President George H.W. Bush.”

• Trump Immunity Denied By DC Appeals Court In Election Case (ZH)

A three-judge panel for the US Court of Appeals for the District of Columbia ruled on Tuesday that former President Trump does not have immunity from prosecution related to his efforts to overturn the results of the 2020 election. “We have balanced former President Trump’s asserted interests in executive immunity against the vital public interests that favor allowing this prosecution to proceed,” the judges wrote in a 57-page opinion reported by CNBC. “We conclude that ‘[c]oncerns of public policy, especially as illuminated by our history and the structure of our government’ compel the rejection of his claim of immunity in this case,” the judges continue, upholding a trial judge’s previous ruling. Special Counsel Jack Smith brought the election interference case against Trump in US District Court in Washington DC, where the chances of him receiving a fair trial are slim to none.

“Trump is charged in the case with four counts of crimes including conspiracy to defraud the United States and conspiracy to obstruct an official proceeding. He has pleaded not guilty. Defense lawyers, seeking to dismiss the case, had argued to Judge Tanya Chutkan that Trump has “absolute immunity” from prosecution because the charges relate to official acts performed while he was president. After Chutkan declined to dismiss the charges, Trump’s attorneys brought the immunity argument to the appeals court. That move put the case on hold in Chutkan’s court. -CNBC. Trump’s legal team is expected to quickly ask the Supreme Court to overturn the decision, in which the former president’s legal team put forth three separate immunity arguments “both as a categorical defense to federal criminal prosecutions of former Presidents and as applied to this case in particular.”

“For the purpose of this criminal case, former President Trump has become citizen Trump, with all of the defenses of any other criminal defendant,” wrote the panel. “But any executive immunity that may have protected him while he served as President no longer protects him against this prosecution. “Donald Trump Jr. took to X to rail against the decision, posting: “If POTUS doesn’t have immunity they’ll be incapable of action for fear of future partisan reprisal. That endangers the United States and sets a terrible precedent. If this becomes the norm would a Trump DOJ prosecute Obama for droning an American? If not why not?”

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High expectations..

• Tucker Carlson Reveals Putin Interview Plans (RT)

The Ukraine conflict has reshaped the military and economic balance of power around the world but most Americans have no idea because their media has fawned over Vladimir Zelensky and refused to talk to his Russian counterpart, former Fox News host Tucker Carlson said on Tuesday. Carlson, who launched his own network on X (formerly Twitter), posted a short video from Moscow, explaining the logic behind his upcoming interview with Russian President Vladimir Putin. Most Western media outlets are corrupt and “lie to their readers and viewers,” mainly by omission, Carlson argued. There has been no effort to speak to Putin since the conflict started in 2022, while US outlets have conducted many “fawning pep sessions” posing as interviews with Zelensky, he added.

“That is not journalism. It is government propaganda – propaganda of the ugliest kind, the kind that kills people,” said Carlson. “Because no one has told them the truth,” most people in English-speaking countries are unaware of “history-altering developments,” according to Carlson. “That’s wrong. Americans have the right to know all they can about a war they are implicated in,” he added, noting that freedom of speech is the American birthright that can’t be taken away no matter who sits in the White House. Carlson reminded his viewers that the US government spied on his text messages in 2021, when he attempted to interview Putin. He urged Americans to watch the entire interview on X, which will not be censored or paywalled, and decide for themselves, “like a free citizen, and not a slave.”

Carlson was first spotted in Moscow on Saturday, but has played coy about his plans. Asked about the hysterical calls to have him banned from returning to the US or jailed – advanced by some prominent establishment commentators – he called them “crazy.” The Kremlin has neither confirmed nor denied any plans to have Putin give an interview to Carlson, telling reporters that any such engagements will be announced in the fullness of time. Carlson was the highest-rated evening cable show host in the US when he was fired by Fox last April, without explanation. He has since returned as one of the most popular interviewers on X, the formerly censorious platform Musk bought in 2022.

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“..X has significantly increased its compliance with government content takedown requests since his takeover, honoring 80% of such orders compared to 50% under his predecessors..”

• Tucker Carlson Reveals Elon Musk’s Putin Interview Pledge (RT)

Billionaire owner of X (formerly Twitter) Elon Musk has pledged not to censor Tucker Carlson’s interview with Russian President Vladimir Putin when it is posted on the platform, the American journalist claimed in a video he posted from Moscow on Tuesday. Carlson has been in Moscow for at least 4 days, sparking rumors that he planned to interview the Russian president. He confirmed his intention in the video, which has received over 260,000 likes. He praised Musk for his pledge “not to block or suppress the interview once we post it on his platform X,” confirming that the video would be available without a paywall to anyone who chose to watch it on the journalist’s own website as well.

“Western governments, by contrast, will certainly do their best to censor this video on other less principled platforms, because that’s what they do – they are afraid of information they can’t control,” the journalist continued, encouraging Americans to watch the interview in order to educate themselves on the “history-altering developments” unfolding in Russia and Ukraine. After assuming control of what was then called Twitter in late 2022, Musk famously partnered with a group of journalists to release internal communications that were widely accepted as proof that multiple US government agencies had been unconstitutionally suppressing the spread of narratives they found undesirable on social media. Musk’s decision to allow numerous prominent banned users back on X – including former US president Donald Trump and, more recently, Infowars host Alex Jones – was praised by free speech advocates, including Carlson.

The former Fox News host launched an independent talk show streaming on X last year after he was unceremoniously fired from hosting the number-one prime-time show in the US for reasons that have still not been made public. While Musk presented himself as a free-speech absolutist when buying the platform, X has significantly increased its compliance with government content takedown requests since his takeover, honoring 80% of such orders compared to 50% under his predecessors, according to a report published last year by tech outlet Rest of World. This has not stopped western governments, including the EU, from demanding he crack down on “disinformation” and “hate speech,” threatening severe penalties for noncompliance.

Like Carlson, Musk has been a vocal advocate for peace in Ukraine, repeatedly warning Washington against provoking a direct conflict with Moscow that could spiral into a third world war. Accordingly, while he provided Ukraine with free access to his company SpaceX’s Starlink satellite internet service, he has refused to enable the system near Crimea, lest Kiev use it to facilitate attacks on the Russian fleet, arguing in September that to do so would render his company “explicitly complicit in a major act of war and conflict escalation.”

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From a French-Canadian site. We don’t know the authenticity.

• Tucker Carlson’s Exclusive Interview With Vladimir Putin – Full Transcript (LM)

TUCKER: What would you say to the people who run America?
PUTIN: Our message is that Russia is not your enemy. We don’t want war. We are ready for peace. Your leaders seek conflict. This is not what we want. Russia defends its own people. We don’t want what doesn’t belong to us.
TUCKER: Would you like to visit Washington?
PUTIN: Yes, of course. I have already been to the United States. I love visiting and have met every president except Joe Biden. If I was invited, I would go. Yes.
TUCKER: What is your opinion of President Biden?
PUTIN: We are convinced that he does not lead the country. Let’s say we have good sources that confirm this, but obviously everyone can see it for themselves. The United States has now entered a dark period. His leadership is unaccountable.
TUCKER: Do you think Joe Biden won fairly?
PUTIN: I would prefer not to get into US domestic politics, but I will say that my embassy reported that your southern border was better managed than the 2020 elections. (laughter)

TUCKER: US poll shows you more popular than Biden – reaction?
PUTIN: (laughs) I don’t know if this should be taken seriously, but Russian ideals have support. We believe in traditional values; Marriage is between a man and a woman: men are men and women are women.
TUCKER: Who would you like to see as the next president of the United States?
PUTIN: Once again, it is not our place to say or get involved. Contrary to long-standing accusations, we are not interfering in your elections. We don’t need it, because it’s the same people who end up running things anyway.
TUCKER: Why did you invade Ukraine?
PUTIN: Did we invade or were we invaded? Look at the story. Look at the people who live there. Historically, we are the ones who were invaded and are only fighting back now. The lands and people are Russian and we will regain what has always been ours.

TUCKER: How would you feel, lol, if Trump won again?
PUTIN: We had good relations when Mr. Trump was president. There was no war. Our relationships were at a high point. That said, nothing is predictable and the statistics are the same. We’ll have to see.
TUCKER: What do you think of Mr. Zelensky and what would be your message to him?
PUTIN: I remember laughing at his jokes when he was a comedian in Russia. Back to the laughter.
TUCKER: Why is that?
PUTIN: There are strong financial entities that have an interest in keeping us as adversaries. One of your presidents warned against this. We Russians don’t have this problem.

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“The Russian population in Ukraine was suffering persecution, and that is why the Kremlin intervened.”

• NYT Fantasy: Germany Gearing Up for Military Confrontation with Russia (PCR)

I forget what year it was that the New York Times ceased being a newspaper and became a shill for the military/security complex. Now the former newspaper has teamed up with German war minister Boris Pistorius and two presstitutes to hype German rearmament to counter the Russian Threat. In one of the silliest articles I have ever read, the NYT reports that Pistorius is warning Germans to prepare for decades of confrontation with Russia and quickly rebuild Germany’s military “in case Vladimir V. Putin does not plan to stop at the border with Ukraine.” Let’s stop here for a minute and remember the Third Reich when Germany was a major military power capable of defeating Poland, France, and Great Britain in a few weeks. Germans were proud and highly motivated, but confrontation with Russia brought a quick end to the Third Reich.

In contrast, today Germany is a deracinated state taught guilt and self-loathing by decades of American and Jewish control over German education and overrun with third world immigrant-invaders. Germany has been an American puppet state since 1945, and is being de-industrialized by American sanctions allegedly aimed at Russia but hitting Germany. The notion that Germany would be capable of confronting Russia militarily is hilarious. Note the assumption that “a newly aggressive Russia” might not stop with Ukraine. As Putin has made clear both with words and by how he has limited Russian military action in Ukraine, Putin’s goal is limited to the previous Russian territories that Soviet leaders placed into the Ukrainian Soviet Republic. The Russian population in Ukraine was suffering persecution, and that is why the Kremlin intervened.

Washington still thinks in 19th century terms that power is gained by the conquest of land. That is not the way Russia and China think. For Russia and China influence is obtained through economic and financial cooperation, not by occupying land or controlling governments. Washington and Israel are the only two militarily aggressive countries in the world. The head of Germany’s intelligence service, Bruno Kahl, is even sillier than the war minister. Kahl said, according to the NYT, “If Ukraine were forced to surrender, that would not satisfy Russia’s hunger for power. If the West does not demonstrate a clear readiness to defend, Putin will have no reason not to attack NATO.”

Clearly, the chief of German intelligence, if it can be called that, has no idea of the dynamics of power. Ukraine is defeated. Russia is not pursuing its advantage. Putin is just sitting there waiting for the realization to soak in. The most preposterous aspect of the NYT’s article is the assumption that “hard power” is military power and that military power is independent of economic power. Germany’s only strength was its economy. Washington has taken that away by blowing up the Nord Stream Pipeline and by forcing Germany to abandon lucrative business deals with Russia. With Germany joining Britain in war talk about Russia, it is Washington pulling the puppet strings. Sooner or later Europeans will figure out that it is NATO, not Russia, that will bring war to Europe.

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“The security of Israel should be sacred, not a political game..”

Funny, I would say that about the children of Gaza. Their lives should be sacred.

• Biden Threatens To Veto GOP Israel Aid Bill (RT)

US President Joe Biden has vowed to veto a Republican-proposed standalone aid package for Israel if it manages to pass through Congress. The idea to pass a “clean” aid package, not tied to border security or Ukraine, was floated by speaker of the US House of Representatives Mike Johnson last week. A number of GOP lawmakers have been opposing a $118 billion national security package, which includes $60 billion in Ukraine military aid, $14 billion for Israel and roughly $20 billion for funding US border policy changes. The package is set to be voted on in the Senate this week. In a statement published by the Office of Management and Budget on Monday, the White House urged both chambers of Congress to reject Johnson’s Israel-only bill, calling it “another cynical political maneuver” after the Biden administration spent “months working with a bipartisan group of Senators to reach a national security agreement that secures the border and provides support for the people of Ukraine and Israel.”

The bipartisan package also includes $10 billion in humanitarian assistance for civilians in Gaza, the West Bank and Ukraine. “The security of Israel should be sacred, not a political game,” the statement read. As early as November, National Security Council coordinator for strategic communications John Kirby indicated that Biden “would veto” a stand-alone Israel aid bill. Johnson responded to the president’s veto threat this week by calling it “a betrayal of our great ally and friend Israel in their time of desperate need.” “The idea that Joe Biden would suggest that he would not send a clean funding measure to assist them is just outrageous,” the House speaker told CNN, warning that the Senate border package would be “dead on arrival” in Congress.

He also previously criticized the Senate bill, saying it would not even “come close to ending the border catastrophe the president has created.” The speaker urged the Senate to take up the standalone Israel aid bill, asking senators to abandon their efforts to keep Israeli aid linked with other issues. While US lawmakers have been entangled in negotiations over the new security supplement for months, EU leaders last week signed off on a €50 billion ($54 billion) support package for Kiev “within the EU budget.” Hungarian Prime Minister Viktor Orban, who originally vetoed the proposal arguing that Brussels has no idea how the monies will be spent, was reportedly “blackmailed” into accepting the deal.

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Zelensky is more likely to blindly do the US’ bidding.

• Zelensky To Fire His Top General’s Deputies – MP (RT)

Ukrainian President Vladimir Zelensky reportedly plans to fire his top general Valery Zaluzhny in the next few days and will likely also dismiss all of the commander’s deputies, a member of the country’s parliament, the Rada, claimed in a Telegram post on Tuesday. The expected firing of Zaluzhny was initially reported last week by several media outlets. However, due to a leak to the press, Zelensky appears to have postponed the decision. Nevertheless, he admitted on Sunday that he would be replacing his top commander and conducting a “serious” overhaul of the country’s leadership. According to MP Alexey Goncharenko, in tandem with Zaluzhny’s sacking, the president intends to fire all of the general’s deputies as well, including Evgeny Moysyuk, Nikolay Balan and Mikhail Zabrodsky.

Goncharenko denounced any attempts to diminish Zaluzhny’s achievements and called the prospect of his firing a “complete disgrace” for Zelensky, adding that it was “wrong” to “spin up negativity, play political games and raise tensions in society during a war.” While Zelensky has not yet made it clear when Zaluzhny would be let go, another Rada MP, Evgeny Shevchenko, has suggested that the commander will be relieved of his position sometime this week. He will then reportedly travel to the UK to serve as Kiev’s ambassador, Shevchenko said, noting that such a position would essentially be a “political pension” for the general. Zaluzhny’s firing comes after months of strained relations with the Ukrainian president. The two fell out over their respective assessments of the battlefield situation, following Kiev’s failed summer counteroffensive. In an article for The Economist in November, Zaluzhny described the situation on the ground as a “stalemate” while Zelensky vehemently rejected that depiction.

In an interview with Italy’s RAI TG1 news channel on Sunday, however, Zelensky appeared to have changed his tune and admitted that there were issues on the front line. In order to solve them, he said that there needs to be a complete overhaul of the country’s leadership, which would not be focused on replacing just a single person, apparently referring to Zaluzhny. The top Ukrainian commander, meanwhile, has reportedly told the president, as per the Washington Post, that no amount of leadership changes would result in any rapid improvements on the battlefield, insisting that Kiev’s forces needed more recruits to gain an advantage. He also stressed that Ukraine needs to prepare for a rise in the rate of personnel losses in 2024. According to Russia’s Defense Ministry, Kiev lost more than 23,000 soldiers in January. In December, the ministry estimated that since the start of the conflict, over 383,000 of Ukraine’s troops had been killed or wounded.

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”The guy with the gun usually wins and last time I checked Zaluzhny’s got more guns than Zelensky..”

• Ukraine’s Top General Sparing Neo-Nazis From Frontline Slaughter (RT)

Ukrainian President Vladimir Zelensky, who has reportedly been attempting to fire his top general, Valery Zaluzhny, could find himself out of a job before the nation’s top military commander, considering that the latter is backed by armed neo-Nazis, former CIA analyst Larry Johnson has argued. Amid widespread reports that Zelensky had unsuccessfully tried to sack Zaluzhny, Ukrainian and foreign media described a tense meeting between the pair, with the general reportedly rejecting a call to resign voluntarily and the president hesitating to remove him under pressure from military top brass. Zelensky has since told the press that a major overhaul of the military command was imminent.

In conversation with Nima Alkhorshid, the Brazil-based host of the YouTube channel, Dialogue Works on Sunday, Johnson claimed the soap opera would be hilarious “if hundreds of thousands of Ukrainians weren’t dead and maimed.” ”The guy with the gun usually wins and last time I checked Zaluzhny’s got more guns than Zelensky,” Johnson said. Comparing the two men, he said the general should not be seen as a “great guy.” “I don’t want to present Zaluzhny as some sort of military genius or really a good-hearted man,” the commentator remarked. He is “a bit of a scumbag” who “embraces the neo-Nazi ideology,” Johnson claimed. ”He’s been very careful to not insert the most ideologically driven troops – the Azov and the Kraken units – into the front lines where they get killed, because he wants to preserve them. Instead, he is sending the cannon-fodder guys.”

Whether or not Zaluzhny shares the radical nationalist ideology of the Ukrainian far-right is hard to tell from his public statements, but he is believed to have considerable support in those circles. A social media post on Friday by Andrey Stempitsky, a Ukrainian military leader and prominent member of the nationalist Right Sector group, featured a photo of him giving Zaluzhny an honorary ID, certifying the general as the first member of Stempitsky’s brigade. A portrait of Stepan Bandera, a Ukrainian nationalist leader and Nazi collaborator, was in the background of the image. Zelensky was elected president in 2019 on a platform of reconciliation with rebels in the east and with Russia, but threats of violence by the extreme right made his office pull back from early attempts to deliver on that promise.

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“..a new USAID-Ukraine project for the construction of a railway connecting the EU and Ukraine has Lvov and not Kiev as its endpoint..”

• Lvov May Become Ukraine’s New Capital (Sp.)

In December 2023, the US Agency for International Development (USAID) and a major Ukrainian railway company signed an agreement for the construction of a 75-kilometer section of the European-gauge railway. The railroad will be part of a larger trans-European project (Mediterranean Corridor) starting in southern Spain and finishing in Lvov. Deputy Chairman of the Russian Security Council Dmitry Medvedev believes that Lvov is set to become Ukraine’s new capital city. His conclusion is based on the fact that a new USAID-Ukraine project for the construction of a railway connecting the EU and Ukraine has Lvov and not Kiev as its endpoint. According to Medvedev, business sometimes reacts to unraveling geopolitical developments more quickly and pragmatically than politicians, and much can be understood from the project details and their reasons.

“It looks like the first confirmation that Lvov-Lemberg will be the new capital of Ukraine within the borders of the Lvov region… It’s just that business is much more prescient than politicians,” Medvedev wrote on X (former Twitter). Lvov-Lemberg is the old name for the city from when the region was part of the Austrian monarchy. Allegations hinting at the capital city being moved away from Kiev are old news for history enthusiasts. After all, national borders and political affiliations have altered dramatically across the continent even throughout the 20th century. Ever since Russia launched its special military op, EU officials have frequently voiced opinions pertaining to the fact that some of today’s Ukrainian lands historically belong to other EU nations. Such is the case with Eastern Galitsia, Transcarpathia (Zakarpattia), Bessarabia, or North Bukovina.

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We’re not supposed to know.

• Sweden To Close Nord Stream Sabotage Probe – German Media (RT)

Sweden will this week announce the end of its investigation into the sabotage of the Nord Stream gas pipelines, German media claimed on Tuesday. The reports come after Swedish prosecutor Mats Ljungqvist told the Expressen national newspaper on Monday that he will disclose a major development in the case within days. Built to deliver Russian natural gas to Germany via the Baltic Sea, the Nord Stream pipelines were damaged by a series of powerful explosions in September 2022. Germany, Sweden, and Denmark each launched their own national probes into the incident after failing to agree on a joint effort. Several leading German news outlets, including Suddeutsche Zeitung, NDR, WDR and Zeit, have predicted that Sweden will close its investigation after failing to identify any suspects.

The move will benefit German investigators, according to the news outlets, as Sweden will be able to share evidence with them once its own case is closed. Investigators are reportedly focusing their attention on a yacht named Andromeda, which was allegedly rented in Poland by a Ukrainian citizen before the bombing, and may have carried the team responsible for it, according to a working theory. Warsaw has been accused of stonewalling requests for assistance from fellow EU members and feeding them disinformation to scapegoat Russia, the Wall Street Journal claimed last month.

Skeptics of the Andromeda theory have argued that the depth at which the pipelines were blown up would have made it impossible for divers lacking highly specialized skills and equipment to plant the explosives. American investigative journalist Seymour Hersh claimed in February 2023 that the incident was actually a clandestine US-Norwegian operation, personally ordered by President Joe Biden to ensure the EU’s decoupling from Russian energy supplies. Washington and Oslo have rejected the allegations, although senior officials in Moscow have said they find Hersh’s reporting plausible. Russian President Vladimir Putin has stated that the sabotage was “most likely” carried out by the US “or someone at their instruction.”

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“Such language proliferates in times of tension and war. The impulse to it should be resisted by ethical persons, and even just by normal non-psychopathic human beings..”

• NYT’s Friedman Hits New Low With Animalization of Arabs, Iranians (Juan Cole)

Calling people animals is a way to dehumanize them, and probably helps convince individuals that the other people around them approve of treating the animals badly. In ways that aren’t entirely clear, this way of speaking is certainly wrought up with violence and even genocide. Israel’s Defense Minister called the Palestinians of Gaza “human animals” when he announced a “complete siege” of Gaza after the horrid Hamas terrorist attack of October 7. Galant’s willingness to destroy most of the homes in northern Gaza and to displace over a million people, leaving them cold, hungry, thirsty and increasingly victims of disease, surely was enhanced by his conviction that he is dealing with animals rather than human beings. Some might defend him, saying that he only called Hamas “human animals.” But if that were true, why is he treating all Palestinians in Gaza worse than dogs?

The Nazi dehumanization of Jews is notorious. They called them rats, lice, cockroaches, foxes, vultures. Such language proliferates in times of tension and war. The impulse to it should be resisted by ethical persons, and even just by normal non-psychopathic human beings. Prominent New York Times columnist Thomas L. Friedman, alas, fell victim to the seductions of such language in his Friday column. He openly said that he approaches the Middle East at times from the perspective of the Warner Brothers’ Animal Planet channel. Friedman actually wants a two-state solution and so wants something for Palestinians more than what they now have, and he is hated by the Israeli far right (which is increasingly the Israeli mainstream) for these stances.

So it is unfortunate that he deployed the language of insects for Iran and Hamas members. He might defend himself by pointing out that he called the United States an “old lion” of which no one in the region is afraid any more, or that he caricatured Israeli Prime Minister Binyamin Netanyahu as a lemur. But in his column, the old lion and the lemur are not depicted as vicious or disgusting. The three-time Pulitzer prize-winner compares Iran to a parasitoid wasp that lays its eggs in caterpillars. He says that the Iranian Revolutionary Guards Corps is like the wasp, and the caterpillars are Lebanon’s Hezbollah, the Iraqi Shiite militias, and Yemen’s Helpers of God (Houthis). How does this language add to understanding? If he is saying that Iran has fostered Shiite militias in nearby countries on the model of its Revolutionary Guards, this is true.

But why would Lebanese be interested in Iranian training, weapons and monetary support? In 1947-1948 Zionist militias ethnically cleansed over half of Palestinians, expelling them from their homes and farms and forcing some of them to Lebanon, where they dwelled in camps. As a liberal Zionist, I presume that Friedman applauds this ethnic cleansing, though the liberal part of the equation makes him sympathetic to Palestinians getting a state on 22% of the land of the British Mandate of Palestine, all of which was promised to the Palestinians by the British White Paper of 1939.

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“..Ukrainians are treated as fellow human beings while thousands of brown Muslims drowning in the Mediterranean struggle to hold column inches in the same newspapers..”

• Western Spin Doctors Dehumanize Select Peoples To Justify War (Bowes)

Anyone watching the ebb and flow of Western coverage of the Ukrainian conflict will notice the emergence of a centrally formed, “fact-light” narrative that suggests Ukrainians are utterly blameless, in a conflict which did not, in fact, begin on February 24, 2022, but with a CIA-back coup in Kiev in 2014, powered by ultra-nationalists and the far right. Its roots stretch even deeper, decades back, to the attempts at the destabilization of the Ukrainian SSR by Western intelligence agencies. Of course, the Western viewer is conveniently spared such details. The skill of deceit by omission of fact has been well honed by the likes of the BBC and CNN. Additionally, the Western media has also been adept at memory-holing Kiev’s crimes against its own people in the aftermath of the 2014 Maidan coup. There is no space to report the gross corruption, the punitive neo-Nazi battalions unleashed on the Donbass region, or the murder, abduction and rape deployed against the Russian-speaking populations who refused to accept the illegitimate mandate of the post-Maidan government.

So, while The Western media gleefully attaches itself to this centralized narrative, there are very hard questions to be asked about the motivations and psychological tools being used in licensing and peddling the justification of war, and when it comes to Palestine, one of these uncomfortable realities is the deployment of subconscious racism. Let’s look at the convenient demonization of Islam. It is by no means an accident that the majority of victims of America’s catastrophic post-9/11 “war on terror” were Muslim. Decades of demonization of Islam as a savage religion bent on world domination have had a subconscious effect on the “collective mind” of the West. This is then energetically exploited by the Western media as required. When Syrian and African refugees from wars stimulated by the Western powers sought refuge in Europe, they were met with protest and in many cases violent objection.

However, when it came to the Ukrainian conflict, some Western commentators openly talked about the fact that the Ukrainian refugees “looked like us,” that they could be “our own people,” that they were blonde-haired and blue-eyed. It was a jarring display of how Ukrainians are treated as fellow human beings while thousands of brown Muslims drowning in the Mediterranean struggle to hold column inches in the same newspapers. The intimate relationship between the client media and the military industrial complex also requires deep investigation and analysis. Media empires such as Rupert Murdoch’s News Corp exert vast and overwhelming influence on the public discourse when it comes to the justification of war.

The relationship between the critically important military industrial complex and the creation of a defensible war narrative is undeniable yet persistently denied. So as the world shifts its gaze from Ukraine towards the Middle East, it’s remarkable how quickly the Ukrainian conflict has slipped from the top of the news feeds in the West. It’s also remarkable how criticism of Ukrainian President Vladimir Zelensky has become suddenly acceptable, whereas the same criticism only months ago was universally suppressed in the Western media.

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“The federal government is being run as a criminal enterprise. . . .not just a little criminal, but a lot criminal.”

• Gold & Silver Fight Tyranny – Catherine Austin Fitts (USAW)

Catherine Austin Fitts (CAF), Publisher of The Solari Report, financial expert and former Assistant Secretary of Housing (Bush 41 Admin.), says, “The federal government is being run as a criminal enterprise. . . .not just a little criminal, but a lot criminal.” CAF thinks now is the time for state governments to act to protect their citizens from the dangers of a falling dollar and increasing central control over “We the People.” CAF explains, “One of the things we are talking with the states about is Sovereign State Banks, so they can protect their transactions in dollars. We are also talking about State Bullion Depositories. This is so states can protect their rainy-day reserve and, ultimately, their transaction ability with gold and silver. Under the Constitution, the states have those powers.

This is very important if we are going to have sovereignty as individuals and not wake up one day and find ourselves in the same spot as the Canadian truckers who had their bank accounts shut down for protesting the CV19 lockdowns and mandates. More and more, we are seeing people say the ‘wrong things,’ and suddenly they find their bank account is shut down. So, if we are going to have individual sovereignty, we need governments that can provide sovereignty. . . . . The states have the power to implement financial transaction arraignments to protect our financial transaction freedom. Without our financial transaction freedom, we are literally going to lose all of our freedoms.”

CAF says there are many reasons to be concerned for the dollar as the world reserve currency system. Fewer and fewer countries are paying for oil trade in dollars. The US now has record debt and likely it cannot be paid back—ever. CAF also points out, “We are seeing a serious loss of confidence for the US federal government to keep its word. As we see this erosion of confidence, we see the US government and central banks assert more and more control in a way which is nothing but tryanny. . . . The challenge in the dollar system is that the dollar system has been managed in a very corrupt way. That corruption has made the dollar system much more expensive and much less efficient than it could be.

The corruption is destroying the productivity of the dollar system. That is telling people all over the world that this is a system you cannot rely on and you can’t trust. It is also devastating to the brand of the dollar system for the military not to look strong. . . . What you are watching is a diminishing of trust all around the world. . . . People are wondering how we are going to survive if the dollar system is going to continue to erode?” CAF also talks about the CV19 murder and disability program and how that is going to affect the economy and the November 2024 Election. CAF says, “A lot can happen before November. . . .I had a preacher who once told me, ‘If we can face it, God can fix it.’”

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“[i]s the [Biden] Admin asking us to remove books, or are they more concerned about search results/order (or both)?”

• Why Burn Books When You Can Bury Them? (Turley)

The House Select Subcommittee on the Weaponization of the Federal Government on Monday revealed yet another facet of the Biden Administration’s sprawling censorship system that targeted dissenting books. It appears that, as with social media companies, it succeeded in getting the company not to promote disfavored books. Judiciary Chairman Jim Jordan revealed on X that the White House was directly involved in the censorship campaign. That includes a 2021 email from one Biden official asking to discuss “the high levels of propaganda and misinformation and disinformation of [sic] Amazon?” Amazon in turn appears to ask only how high the Biden White House wants it to jump on censorship: “[i]s the [Biden] Admin asking us to remove books, or are they more concerned about search results/order (or both)?”

After the meeting, Amazon confirmed in an email that it was actively doing what the government demanded in suppressing sales by not promoting disfavored books: “As a reminder, we did enable Do Not Promote for anti-vax books whose primary purpose is to persuade readers vaccines are unsafe or ineffective on 3/9, and will review additional handling options for these books with you.” This effort notably parallels demands from Democratic leaders who have called for enlightened algorithms to frame what citizens access on the internet. In 2021, Sen. Elizabeth Warren (D-Mass.) objected that people were not listening to the informed views of herself and leading experts. Instead, they were reading views of skeptics by searching Amazon and finding books by “prominent spreaders of misinformation.”

Warren blamed Amazon for failing to limit searches or choices: “This pattern and practice of misbehavior suggests that Amazon is either unwilling or unable to modify its business practices to prevent the spread of falsehoods or the sale of inappropriate products.” In her letter, Warren gave the company 14 days to change its algorithms to throttle and obstruct efforts to read opposing views. It is important to keep in mind that these efforts at censorship targeted scientists who have been vindicated in many of their objections to policies and claims of the government. For example, a new scientific review by 12 researchers from leading universities found little support for the claims that masks reduced Covid exposures. The Centers for Disease and Control Prevention (CDC) initially rejected the use of a mask mandate. However, the issue became a political weapon as politicians and the press claimed that questioning masks was anti-science and even unhinged.

In April 2020, the CDC reversed its position and called for the masking of the entire population, including children as young as 2 years old. The mask mandate and other pandemic measures like the closing of schools are now cited as fueling emotional and developmental problems in children. The closing of schools and businesses was also challenged by some critics as unnecessary. Many of those critics were also censored. It now appears that they may have been right. Many countries did not close schools and did not experience increases in Covid. However, we are now facing alarming drops in testing scores and alarming rises in medical illness among the young. Masks became a major social and political dividing line in politics and the media. Maskless people were chased from stores and denounced in Congress. Then-CDC Director Dr. Robert Redfield said during a Senate hearing that “face masks are the most important powerful health tool we have.”

The head of the World Health Organization even supported censorship to combat what he called an “infodemic.” A lawsuit opposing these efforts was filed by Missouri and Louisiana and joined by leading experts, including Drs. Jayanta Bhattacharya (Stanford University) and Martin Kulldorff (Harvard University). Yet, universities joined social media companies and politicians in targeting dissenters and silencing opposing voices. Bhattacharya previously objected to the suspension of Dr. Clare Craig after she raised concerns about Pfizer trial documents. Those doctors were the co-authors of the Great Barrington Declaration, which advocated for a more focused Covid response that targeted the most vulnerable population rather than widespread lockdowns and mandates. Many are now questioning the efficacy and cost of the massive lockdown as well as the real value of masks or the rejection of natural immunities as an alternative to vaccination. Yet, these experts and others were attacked for such views just a year ago. Some found themselves censored on social media for challenging claims of Dr. Fauci and others.

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” Just as nothing will be done about the genocide of the Palestinians, nothing will be done about the American genocide. White people are an endangered species..”

• America Is Undergoing Genocide (Paul Craig Roberts)

It is not a conspiracy theory that the 300,000 immigrant-invaders (official count) entering the US unopposed each month are recruits organized by NGOs and not refugees from political persecution. The NGOs that are underwriting the invasion provide maps of the routes along which food and shelter are provided. Roads and bridges are being constructed to aid the invasion. One of the NGOs is the Hebrew Immigrant Aid Society (HIAS), of which the current director of the US Department of Homeland Security, Alejandro Mayorkas, himself a Jew, was a board member until December 2020. According to an article on substack, HIAS has received $100,000,000 from the US government in the past three years. Mayorkas is foreign born and himself an immigrant-invader. Yet, he is the director of Homeland Security for the United States. On January 31, the House Committee on Homeland Security voted to approve articles of impeachment of Mayorkas for “willful and systemic refusal to comply with the law” in enforcing border policy and “breach of public trust.”

There has been no investigation of whether it was Mayorkas who gave $100,000,000 of US taxpayers money to a Jewish NGO engaged in the organized invasion of the US. According to the report on substack, HIAS has a processing center in the Darien Gap used to collect the immigrant-invaders and to send them on their guided and provisioned way. Apparently, Mayorkas is aware of this, and possibly is helping to finance it. But don’t expect Congress to investigate anything that might reflect unfavorably on a Jewish organization. Another problem is Vanita Gupta, daughter of Indian immigrants, who is Associate Attorney General of the US. Gupta has been active in investigating police departments, in enforcing LGBTQ2 rights and hate crime prosecutions, and winning settlements for illegal immigrant children. Her father is a director of Avantor, a company that makes in Mexico acetic anhydride, a product used in producing heroin and methamphetamine.

As the Democrats’ open border policy facilitates the drug trade, the question is whether an associate attorney general who fights for immigrant-invaders and whose father is involved in a corporation that produces a product used in the drug trade has a conflict of interest. Governance in a tower of babel is problematic, especially when the most recent citizens are people of color with racial privileges that give them preferred entry into top positions. Many of the immigrant-invaders arrive from countries in which it is commonplace that officials privatize their offices for money or for ideological and social agendas. When a Western government has so many government officials from countries outside the Western tradition, how does the country remain Western? Isn’t it transformed into something else?

Under the Democrats, each and every month illegal immigrants are permitted to enter the US in numbers (official, the real number might be higher) equal to the population of Pittsburg, Pennsylvania. Think about it. Every year the Democrats’ open border policy saddles us with 12 cities the size of Pittsburgh full of third world immigrants who know nothing of Western ways. it is a new form of genocide that America is undergoing. It is unclear to me if there is enough of America left to be able to rescue itself. Rescue is certainly impossible as long as gullible, insouciant, hapless Americans continue to vote Democrat. Not that the Republicans are much different. As far as I can tell, the only difference between the two parties is that Republicans do not hate white people, and it is not their policy to destroy them and to replace a white country with people of color. But Republicans lack a fighting spirit. They themselves are part of the Establishment, and they are content to milk the situation to their own end. Just as nothing will be done about the genocide of the Palestinians, nothing will be done about the American genocide. White people are an endangered species. Their governments are conspiring against them.

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Rancourt
https://twitter.com/i/status/1754727126152945732

 

 

Lily

 

 

Ostrich

 

 

Engineering

 

 

Grey whale

 

 

Hammock

 

 

 

 

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

 

 

 

 

 

Debt Rattle December 10 2023

Dec 102023
 
 December 10, 2023  Posted by at 9:05 am Finance Tagged with: , , , , , , ,  42 Responses »


Salvador Dalí Mi esposa desnuda 1945

 

• ‘Most Censored Man’ In America Set To Return To X (RT)
• Gonzalo Lira’s Father Blames Biden (RT)
• US Condemns Thousands To Death By Vetoing UN Gaza Resolution – Russia (TASS)
• In the Season of Goodwill, A Tip for Biden… Stop Fuelling War (SCF)
• Israeli Losses Multiply As Gaza Factions Ferociously Resist Aggression (Cradle)
• Moscow on the Rocks (Pepe Escobar)
• ‘Putin Era’ Rolls On in Spite of West Endlessly Underestimating Him (Sp.)
• Russia Won’t Agree to ‘Minsk-3.0’ Deal on Ukraine (Sp.)
• Russia Won’t Allow Existence Of ‘Nazi State’ On Its Border – Zakharova (RT)
• Polish Media Debunks Narrative That Ukraine is Fighting for West’s Freedom (Sp.)
• Bizarre Plot Twist: Scholz Blames Putin for High Energy Prices in Europe (Sp.)
• EU Leaders Panicking Over Potential Trump Return – NYT (RT)
• With Hunter’s Indictment, Democrats Face A Moment Of Maddening Truth (Turley)
• Americans Running Out Of Savings – JPMorgan (RT)
• Net Zero Requires 80 Million Kilometres of New Power Lines By 2040 (DS)

 

 

 

 

 

 

Peace

 

 

 

 

Martyanov

 

 

Jeffrey Sachs

 

 

Mahathir

 

 

 

 

“If the people vote him back on, this will be bad for X financially, but principles matter more than money..”

• ‘Most Censored Man’ In America Set To Return To X (RT)

X (formerly Twitter) owner Elon Musk has asked the public to vote on whether to reinstate the account of Infowars host Alex Jones. Musk said that maintaining the ban on Jones would go against his belief in free speech. Musk posted his poll on Saturday afternoon, asking X users whether they wanted him to “reinstate Alex Jones on this platform?” With eight hours to go at time of writing, 70% were in favor of Jones’ reinstatement, and 30% opposed. “Vox Populi, Vox Dei,” Musk wrote in his post. Musk used this Latin phrase, which means “the voice of the people is the voice of God,” when he reinstated former US President Donald Trump’s account after a similar vote last year. Jones and his InfoWars channel were banned from every major social media platform in 2018, with the Silicon Valley firms citing “hate speech” and alleged breaches of their terms of service.

Jones was also banned from using PayPal for business transactions over his alleged “intolerance against certain communities and religions.” After purchasing Twitter last year and rebranding the platform as X, Musk rolled back many of the company’s speech rules and censorship policies, and offered a “general amnesty” to previously banned users. However, he wrote last year that after the death of his infant son, he would never allow Jones back, describing the Infowars shock-jock as someone “who would use the deaths of children for gain, politics or fame.” Jones had previously claimed that the Sandy Hook school shooting of 2012 was perpetuated by the US government to drum up support for gun control. A group of victims’ families sued Jones over his comments, and a judge ordered him to pay over $1.5 billion in damages last year. Jones, who filed for bankruptcy shortly after the verdict, has vowed to appeal the decision.

Musk’s opinion of Jones appears to have softened after former Fox News host Tucker Carlson, who now hosts a self-produced show on X, interviewed the notorious pundit earlier this week. Introducing his guest as “the most censored man in the English language,” Carlson sat down to an hour-long discussion with Jones, during which Jones said that he understood that if Musk allowed him back on X, “the ADL and others would really be able to shut down Twitter.” The Anti-Defamation League, a Jewish NGO, has previously clashed with Musk over X’s alleged tolerance of “rampant hate speech.” The ADL settled its beef after Musk threatened to sue the organization for driving away advertisers with “false accusations.” Responding to an X user later on Saturday, Musk wrote that “I vehemently disagree with what he said about Sandy Hook, but are we a platform that believes in freedom of speech or are we not?” “That is what it comes down to in the end. If the people vote him back on, this will be bad for X financially, but principles matter more than money,” he added.

56 seconds

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“Isn’t it odd that four days later, after condemning Joe Biden and Kamala Harris, Gonzalo was arrested?”

“If we are going to protect democracy in the world, let’s start by taking out that puppet called Zelensky..”

• Gonzalo Lira’s Father Blames Biden (RT)

President Joe Biden’s administration was complicit in the arrest of a US citizen who was jailed and tortured in Ukraine for criticizing the Kiev government, the father of incarcerated blogger Gonzalo Lira has claimed, saying his son may have sealed his fate when he also spoke out against Washington. Gonzalo Lira was apprehended by Ukrainian authorities for the third time in August, while trying to escape the country into Hungary after being released on bail. The Chilean-American journalist had repeatedly criticized the government of Ukrainian President Vladimir Zelensky, arguing that Kiev had provoked its conflict with Russia and had no chance of winning. “This that is happening to my son, he’s a victim of this Biden government and his relation with that puppet Zelensky,” Gonzalo Lira Sr. said on Saturday in an interview with US political commentator Tucker Carlson.

“Zelensky is a man that has made opponents, political opponents, disappear.” The 80-year-old father said his son had bravely reported on about a dozen Zelensky opponents who had been “disappeared.” The younger Gonzalo Lira also predicted correctly that the Russian economy would be relatively unscathed by Western sanctions and that NATO members would suffer a boomerang effect from their efforts to arm Ukraine and punish Moscow. However, it was only after the blogger sharply criticized Biden and US Vice President Kamala Harris that he was arrested for a second time, in May, Gonzalo Lira Sr. told Carlson. “Isn’t it odd that four days later, after condemning Joe Biden and Kamala Harris, Gonzalo was arrested?” the father asked. “Why was he not detained earlier? When he was let go the previous year, he continued the same criticism against the war.”

He added, “The USA government, with its silence in the face of this scandalous incident, suggests a degree of complicity, or at least tacit approval of Gonzalo’s arrest.” Lira contrasted the Biden administration’s “conspicuous lack of response” to his son’s arrest to Washington’s aggressive efforts to secure the release of Evan Gershkovich, a Wall Street Journal reporter who was arrested in Russia on espionage charges in March. The younger Lira is relying on a court-appointed Ukrainian attorney who speaks no English for his legal defense. Just before being captured in August, he warned that if he failed to get safely into Hungary and be granted political asylum, he would likely die in a Ukrainian labor camp.

Gonzalo Lira Sr. has called his son a political prisoner and has argued that his case illustrates the absurdity of US claims that the world must defend “freedom and democracy” in Ukraine. “If we are going to protect democracy in the world, let’s start by taking out that puppet called Zelensky,” he said.

Tucker Gonzalo

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“The resolution called for a ceasefire and the release of all hostages and urged the parties to the conflict to comply with international humanitarian law.”

• US Condemns Thousands To Death By Vetoing UN Gaza Resolution – Russia (TASS)

The United States condemned thousands of Palestinian and Israeli civilians to death by vetoing a resolution calling for a ceasefire, Russian First Deputy Permanent Representative to the UN Dmitry Polyansky said.”Our American colleagues have condemned thousands – if not tens of thousands – more civilians in Palestine and Israel, including women and children, to death, along with the UN workers who are trying to help them. History will assess what Washington has done,” he noted. “One can say many beautiful but empty words about democracy, human rights, peace, security, some rules and order, but today, we learned the true value of these words as two members of the UN Security Council preferred to remain complicit in Israel’s brutal massacre,” the diplomat said.

“Here at the council, we have nothing left to do but triple efforts to develop a decision that would ease the suffering of civilians within the limited and toothless framework that Washington and London have left us with,” he concluded. Earlier, the US vetoed a UN Security Council resolution submitted by the United Arab Emirates, which called for an immediate ceasefire in the Gaza Strip. Thirteen out of the UN Security Council’s 15 members, including Russia and China, voted for the resolution, while the UK abstained. The resolution called for a ceasefire and the release of all hostages and urged the parties to the conflict to comply with international humanitarian law.

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“The massacre of children in Gaza is particularly poignant given its location in the Holy Land and the proximity to the birthplace of Jesus Christ, whom Christians revere as the Son of God. The profanity is shocking.”

• In the Season of Goodwill, A Tip for Biden… Stop Fuelling War (SCF)

U.S. President Joe Biden failed to obtain his Christmas wishlist of $111 billion in additional military funds for Ukraine, Israel and Taiwan. The so-called “supplementary military aid package” was blocked by the Senate this week mainly due to opposition from Republican lawmakers. Their opposition was primarily based on demands for more funding to be given to U.S. border security measures rather than on principles of anti-war and pro-peace. Nevertheless, it is somewhat satisfying that Biden’s madcap militarism was dealt a blow. It’s also quite a grim eye-opener that the American president – the supposed leader of the “free world” and a professed devout Christian – sees nothing more important than spending such colossal amounts of money on weapons of war. It is all the more odious given the approach of Christmas and the Season of Goodwill.

The appalling violence in Gaza and the futile war in Ukraine must be stopped immediately. Peace and the alleviation of suffering should be the utmost priority for all world leaders worthy of the name. However, the Biden administration is having none of that. President Biden wants to send another $68 billion in weapons to Ukraine – on top of the more than $120 billion his administration has already supplied in aid to the Kiev regime. It is estimated that 400,000 Ukrainian troops have been killed in nearly two years of a U.S.-led NATO proxy war against Russia. Yet, ludicrously, Biden declares this war to be an achievement in “defending democracy”. Instead of recognizing (even tacitly) that the conflict is a disastrous defeat for Washington and its allies, Biden wants to keep on throttling it.

Meanwhile, the White House has repudiated international calls for a ceasefire in Israel’s wanton offensive against Gaza. After more than two months of intensive aerial bombardment, more than 17,000 Palestinians have been killed and 50,000 injured. Most of the victims have been innocent children and women. The barbarity is unspeakable. So much so that there is a strong suspicion that the Israeli regime is exploiting the Hamas attacks on October 7 as a pretext for ethnic extermination. Despite the horrendous destruction, the Biden administration wants to give Israel an additional $14 billion in military aid on top of the $3.8 billion it receives annually from the United States.

The reported supply of 15,000 heavy bombs and one-tonne bunker buster ordnance from the U.S. to Israel has been made without any conditions on their use to limit civilian casualties. That makes the United States fully complicit in what can only be called genocide in Gaza. To request even more killing power in the form of $14 billion supplementary military aid is tantamount to giving Israel an even brighter green light to continue the mass slaughter with impunity. It is shuddering that this spiritually significant time of year does not give politicians pause for thought. The massacre of children in Gaza is particularly poignant given its location in the Holy Land and the proximity to the birthplace of Jesus Christ, whom Christians revere as the Son of God. The profanity is shocking.

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“Only in the Mount Herzl cemetery did we bury 50 soldiers in 48 hours.”

• Israeli Losses Multiply As Gaza Factions Ferociously Resist Aggression (Cradle)

The Israeli army has registered at least 5,000 wounded among its ranks, including 2,000 troops who have been left “disabled” during the two-month-long ethnic cleansing campaign of Gaza. “Israel has never witnessed an event like this before in terms of the number of injured people,” the head of the Rehabilitation Department at the Israeli Ministry of Defense, Limor Luria, told Hebrew daily Yedioth Ahronoth on 9 December. She added that “58 percent of the soldiers have limb injuries, as they were subjected to the amputation of a leg or arm.” The Israeli army claims only 91 soldiers have been killed by the Palestinian resistance in Gaza since the start of the war on 7 October, casting doubt on whether the actual death toll is being kept secret as the Al-Qassam Brigades has documented the daily destruction of Israeli vehicles and squadrons for the past two months.

In an interview last month, the director of Mount Herzl Military Cemetery, David Oren Baruch, revealed that – at the time – one Israeli soldier was being buried every one hour to one hour and a half. “We are now going through a period. Every hour, there is a funeral, and every hour and a half, there is a funeral,” Baruch said on 19 November. “Only in the Mount Herzl cemetery did we bury 50 soldiers in 48 hours.” The Israeli army is currently facing a fierce battle in the southern city of Khan Younis. According to Yaniv Kubovits, the military affairs correspondent for Haaretz, Israeli army commanders have reported there are four Hamas battalions at the site “whose ability to launch attacks against the army has not been affected.” Battles are also raging in the north of Gaza, which the Israeli army claimed to have gained control of last month. Rocket attacks also continue to be launched against settlements near the Gaza envelope, raising questions on whether Tel Aviv’s stated goal of “eradicating Hamas” can be achieved.

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“Russia will not initiate a diplomatic dialogue. A sense of threat is very real in Russia. Diplomatic channels conveyed this message to the Americans, behind closed doors.”

• Moscow on the Rocks (Pepe Escobar)

And then, casually, almost as an afterthought while meeting Donbass heroes, Putin announces he will run for President again in next March’s elections. Considering his massive popularity – at least 80% nationally – he’s bound to remain in power until 2030. Welcome to VVP-2024. Plenty of time for serial meetings with his dear friend Xi Jinping. The Russia-China strategic partnership – in charge of paving the road to multipolarity – is scheduled to be rocking more progressively than Emerson, Lake and Palmer in Tarkus (“Have you walked in the stones of years?”) These have been heady days in dazzling, snowy Moscow. To start with, let’s go on a roll call of all those indicators which are being reluctantly admitted even by rabid NATOstan media.

A manufacturing boom is in effect in a semi war economy. Investments are up, up and away – including by dodgy Russian oligarchs who can’t park their funds in the West anymore. Tourism is up and up – including legions of Chinese tour groups and everyone and his neighbor from West, Central and South Asia. There’s an oil and gas export boom – as EU clients continue to buy gas via Turkey or to the delight of New Delhi, Repackaged in India oil. The yuan replaces the U.S. dollar and the euro. Import substitution rules – while in parallel Made in Turkey or Made in China products replace Europeans. Last January, the IMF was betting that the Russian economy would shrink by 2.3%. Now this outpost of the Treasury Department admits Russian GDP will grow by 2.2%. Actually it’s 3%, according to Putin himself, based on figures provided by the “Disrupter” (as described by a Western rag), Madame Elvira Nabiullina.

I have been privileged to be part of key meetings on everything from the latest in the Ukraine-Belarus front to still secret, top-flight studies on the ideal mechanism to bypass the U.S. dollar in payment settlements. A small group of us, invited by the International Russophile Movement (MIR), were treated to a detailed visit to the astonishing Sretensky monastery complex, defined by mega cool guy Larry Johnson as an unparalleled architectural jewel where one may experience “the palpable presence of God.” Then there was the requisite ritual, long, languid dinner with a stunning Princess in unmatchable Patriarch’s Ponds – Moscow’s Soho; talking to the young, future generation planning a new ground-breaking think tank in St. Petersburg; the mesmerizing Russia exhibition at the VDNKh – complete with a four-story underground bunker built by Rosatom to highlight the history of the Russian nuclear program.

Yes: there are replicas of the supersonic TU-144, the K3 Leninsky Komsomol nuclear submarine and even the Tsar Bomba. Not to mention Gagarin’s rocket lighted as if it’s starring on a psychedelic trip. The spirit of Christmas in on at Red Square – complete with skating rink and countless Christmas trees from every Russian region displayed at GUM. Welcome to the true multipolar Moveable Feast; and in the era of genocide in every smartphone, unlike Hemingway’s time a century ago, that’s not exactly taking place in gloomy and fearful Paris.

High-level Russian diplomacy was stunned to discover that Europe was much more dogmatic than many believed. “A new generation” is needed for dialogue to resume – but that does not seem to be in the cards anytime soon. Embassies should work as mediators. Yet that’s not the case – especially when it comes to the U.S. Embassy in Moscow. Russia will not initiate a diplomatic dialogue. A sense of threat is very real in Russia. Diplomatic channels conveyed this message to the Americans, behind closed doors. On the wishful thinking by has-beens such as former NATO secretary-general Anders “Fogh of War” Rasmussen, bragging on blocking St. Petersburg out of the Baltic Sea: “This is something that may end up very badly.”

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“..any global governance settlement cannot be enforced without the equal involvement of Russia, China and the US,” Raffone said. “The EU is, regrettably, irrelevant in such an exercise..”

• ‘Putin Era’ Rolls On in Spite of West Endlessly Underestimating Him (Sp.)

Many in the West thought military conflict between Russia and Ukraine would spell doom for Russian leader Vladimir Putin. But instead the operation has only strengthened the longtime president’s political resilience. That’s according to Paolo Raffone, the director of CIPI Foundation in Brussels, who spoke to Sputnik in light of Putin’s recent announcement that he’d seek reelection in 2024. “One critical mistake in any military confrontation is to underestimate the enemy,” noted Raffone. “Since the outset of the Russian operation, the Western propaganda machine has diffused reports ridiculing Russian strategies, forces, and capabilities.” “Even at a later stage, the withdrawal of Russian forces from Bakhmut has been completely misinterpreted as a sign of weakness while, instead, it was a wise decision, although painful, dictated by the restructuring of logistics along an over extended frontline.”

The strategic analyst suggested Putin and his military advisers have played the long game. Meanwhile, Western leaders’ public promotion of Kiev’s chances for victory has given rise to an overconfidence in the regime’s capabilities, imperiling the entire project. “The over communication of the capabilities of the Ukrainian army to launch last summer’s counteroffensive has resulted in overestimating the real possibilities while underestimating the carefully prepared Russian defensive lines,” said Raffone. “In addition, the stream of declarations by the NATO secretary general shows the manipulative intent instead of representing the effectiveness of the situation.” “Over the last three days, the NATO ‘paper tiger’ has contradicted itself several times on the real possibilities for Ukraine to win. No doubt that in all military operations propaganda is as important as the field activities. However, the reality in the field remains while propaganda vanishes, producing a sense of despair and disaffection in the masses involved.”

Raffone claimed that, behind the scenes, a “secret realist diplomacy” has prevailed regarding the situation even as a chauvinistic Western press is unable to convey the reality of events on the ground. The disconnect with reality extends to Western political leaders who’ve been unable to reflect Russia’s advantageous position in their “storytelling and policies. He believes the United States is seeking a “credible face-saving exit strategy” from the Ukrainian confrontation amidst the political realities of upcoming elections in Russia, the United States, and the European Union. Until those elections are held, Raffone said “no political leader can deviate from the chosen anti-Putin stance,” meaning Western audiences may expect public vilification and hysterical mainstream media speculation to continue. “Serious strategic analysis indicates that any global governance settlement cannot be enforced without the equal involvement of Russia, China and the US,” Raffone said. “The EU is, regrettably, irrelevant in such an exercise..” [..]

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“They all talk about the de facto recognition of Russian control over territory and making the rest of Ukraine an anti-Russia on steroids..”

• Russia Won’t Agree to ‘Minsk-3.0’ Deal on Ukraine (Sp.)

Russia will either have to “come to the negotiating table on terms that would be acceptable to Ukraine…or they will face a stronger Ukraine, backed by a stronger defense industrial base in the United States, in Europe, and in Ukraine that has more ability to go on the offense,” US deputy national security advisor John Finer warned during a talk at a DC neocon think tank this week. The Kremlin rejected Finer’s comments as “absolutely unrealistic.” “I don’t think that there are necessary preconditions for peace talks,” Russian foreign policy strategist Dmitry Suslov told Sputnik’s New Rules podcast. “The objective reasons for Western interest in peace talks are there because the correlation of forces on the Ukrainian conflict is shifting in Russia’s favor, has already shifted in Russia’s favor.

“And I think Russian preponderance in all aspects on the front will continue to grow – in terms of the number of people…in terms of weapons and ammunition, in terms of the ability to deliver and supply those weapons and ammunition to the front, including the newest features of contemporary warfare like drones and anti-radio systems and so on and so forth. So, Russia will continue to increase its advantage and over time, this Russian material advantage will inevitably translate into breakthroughs on the front,” Suslov explained. Leading American neoliberal and neoconservative geopolitics experts realize this, the observer believes, hence the sudden calls for a truce, some type of diplomatic settlement or at least a freeze on the conflict.

“But from the Russian perspective, we do not see a readiness for serious discussions from the Biden administration. Most likely it wants, as Americans say, to ‘kick the can down the road’ until the elections and then to think what comes next after the elections,” Suslov said. One recent report by a well-respected US journalist suggested that forces behind the scenes in Washington have put out feelers for a peace deal with Russia involving freezing the conflict along its current frontiers, in exchange for a rump Ukrainian state’s inclusion into the NATO bloc. Such talk focused territory marks a fundamental misunderstanding of Russia’s actual security concerns, Suslov stressed.

“They all talk about the de facto recognition of Russian control over territory and making the rest of Ukraine an anti-Russia on steroids, integration of the rump Ukraine into the Western orbit in this or that form, robust militarization of this rump Ukraine. They talk about either the Israeli model or the Korean model, both of which would imply Ukraine becoming a militarized anti-Russian fortress with very strong connections with the West. This is completely unacceptable for Russia. This is a false vision because Russia will never be satisfied with territories. The most fundamental reason why Russia is fighting this struggle is security – more fundamental questions of European security,” the geopolitical observer said.

Moscow, Suslov said, is focused not on territory, but on “Ukrainian-NATO relations, the future of NATO’s presence in Ukrainian territory, the future of Ukrainian militarization versus demilitarization” (as outlined in the Russian Foreign Ministry’s December 2021 draft treaties on ironclad security guarantees). Accordingly, “without Western readiness to address those issues,” the Russian government will be extremely unlikely to entertain talks of peace or even a truce, the analyst believes.

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“It is necessary to confirm the neutral, non-aligned and nuclear-free status of Ukraine..”

• Russia Won’t Allow Existence Of ‘Nazi State’ On Its Border – Zakharova (RT)

Moscow will not allow Ukraine to continue its existence as a “Nazi state,” threatening both Russia and other nations, Russian Foreign Ministry spokeswoman Maria Zakharova has said. Zakharova made the remarks in an exclusive interview with AFP, published in full on Saturday. Asked whether the goals of “denazification” and “demilitarization” of Ukraine, proclaimed by Russian President Vladimir Putin at the beginning of the conflict in February 2022, Zakharova confirmed that was the case. Moreover, the events of the Ukrainian crisis have shown Russia’s decision to launch its special military operation was a necessity, she stressed.

“From the very beginning of the hostilities, the [Ukrainian] neo-Nazis have been cynically using the civilian population as ‘human shields’ and brutally treating Russian prisoners of war. Their main goal in this conflict is to kill as many Russians as possible,” Zakharova explained. “We will not allow the existence on our borders of an aggressive Nazi state from whose territory there is a danger for Russia and its neighbors.” Asked about prospects of somehow settling the conflict, Zakharova said that the only way to reach a “lasting peace” was, effectively, meeting all Russia’s demands. “It is necessary to confirm the neutral, non-aligned and nuclear-free status of Ukraine, carry out its demilitarization and denazification, acknowledge new territorial realities, and ensure the rights of Russian-speaking citizens and national minorities living in this country,” she explained.

Russia remains ready to resolve the conflict through diplomacy, the spokeswoman confirmed, stating that Moscow has never refused to do so. However, to make such negotiations possible, “the Kiev regime and its Western curators” must take “practical steps and show goodwill.” Thus far, neither of them had shown such “political will,” she added. “A comprehensive, sustainable and just resolution of the conflict over Ukraine depends, to a large extent, on addressing its very causes. The West must stop pumping up the Ukrainian military with weaponry, while Kiev must cease hostilities and withdraw its troops from Russian territory,” Zakharova explained, referring to the four formerly-Ukrainian regions of Zaporozhye, Kherson, as well as Donetsk and Lugansk People’s Republics, which got incorporated into Russia after referendums last fall.

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“An Estonian military officer has formulated the following thesis: that ‘there are only two options: either Ukraine will win, or there will be World War III..’”

• Polish Media Debunks Narrative That Ukraine is Fighting for West’s Freedom (Sp.)

Kiev’s “cunning propaganda” suggesting that a Russian victory in Ukraine will inevitably be followed up with attacks on NATO countries are little more than a form of “demagoguery” and “blackmail” completely detached from reality. That’s according to an editorial published in Polish politics journal Mysl Polska. “An Estonian military officer has formulated the following thesis: that ‘there are only two options: either Ukraine will win, or there will be World War III’. This ridiculous proposition is probably shared by a large part of Ukraine’s supporters in our country,” the alternative conservative media outlet wrote, pointing to efforts by some actors to convince the public “that a Ukrainian defeat will mean we will definitely be attacked by Russia.”

But the latter claim is little more than a “cunning propaganda move by Kiev aimed at maintaining Western policy of unconditional military and financial support,” with these kind of “demagogic statements…often used by Ukrainian politicians as blackmail (for example, during the Polish truckers’ protests). This trick is also used by the failing administration of Joe Biden, which frightens the countries of NATO’s eastern flank with the prospect of an attack by Russia,” the journal emphasized. The reality is the exact opposition, and “there is no country in Europe that should be more interested in ending the war than Poland, which will be the first to face the consequences if the military situation escalates. Poland should be among the first countries to demand an end to this war, just like the Hungarians are doing. However, no political force in our country will dare to formulate such a demand… Why? Because the dogma of ‘fighting to the end’ continues to apply. The fact that it means ‘to the last Ukrainian’ is something no one in Poland cares about.”

The political journal lamented that “no one in Poland is talking about the fundamental change in the West’s policy toward Russia towards dialogue and the creation of a security system in which all parties (Russia and the West) will feel safe. To achieve this, we will need to end NATO’s march to the east, clearly declare that Ukraine will be a neutral country, end the policy of endless sanctions and revive all institutions that could be a platform for dialogue between Russia and the Europe (e.g. The OSCE). Someone might say, but isn’t that impossible? If so, they will be admitting that the Estonian military officer quoted above is right – that the alternative is World War III,” Mysl Polska summarized.

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“Yes, Russia stopped supplying energy to Europe… It was the Russian president who halted gas supplies through a working gas pipeline,” Scholz stated.”

• Bizarre Plot Twist: Scholz Blames Putin for High Energy Prices in Europe (Sp.)

The leader of Germany’s coalition government attempted to scapegoat Russia for his country’s self-inflicted economic woes as Berlin faces the threat of deindustrialization. In a recent address at the Social Democratic Party (SPD) congress, German Chancellor Olaf Scholz blamed Russia for halting gas supplies to Europe amid rising energy costs. He accused Russian President Vladimir Putin of stopping gas flows through a functional pipeline, significantly reducing Germany’s gas intake and contributing to a shortfall in Europe’s energy reserves. “Russia: Yes, Russia stopped supplying energy to Europe… It was the Russian president who halted gas supplies through a working gas pipeline,” Scholz stated. “This has implications for energy prices.”

But that narrative collapses in light of his country’s role in imposing sanctions on Moscow and restricting the flow of Russian energy to Western Europe. Scholz’s decision to align with the US and Britain in sanctioning Russian energy sources worsened Germany’s problems. The nation has denied itself around 120 billion cubic meters of Russian gas as a result. Germany has instead increased gas imports from Norway and built new liquified natural gas (LNG) on its northern coast to import more-expensive supplies from the US — all choices made by the West, not Moscow.

The gas supply situation worsened further following last year’s terrorist attacks on the Nord Stream 1 and 2 gas pipelines that run from Russia to Germany under the Baltic Sea. Several countries, including Germany, Sweden, and Denmark, have conducted investigations into the incident, but have failed to name a culprit and refused to share their findings with Russia. Russian authorities have accused the US and Britain as the main forces behind the attack on the Nord Stream pipelines. Nikolai Shulginov, head of the Russian Ministry of Energy, stated in November that Russia had not “closed” the western direction of energy supplies and continues to be a reliable gas supplier even under current challenging conditions.

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“..this anti-interventionism would lead to the eventual collapse of NATO..”

• EU Leaders Panicking Over Potential Trump Return – NYT (RT)

EU diplomats and think tank officials have been contacting former US President Donald Trump’s associates to figure out whether he would pull the US out of NATO if he returns to the White House, the New York Times reported on Friday. With less than a year to go until the 2024 presidential elections, Trump is the presumptive Republican nominee and is leading President Joe Biden in most polls. A host of former Trump administration officials and anti-Trump pundits have claimed in recent weeks that a second Trump presidency would herald the collapse of NATO, and that panic has reportedly spread to the EU. “European ambassadors and think tank officials have been making pilgrimages to associates of Mr. Trump to inquire about his intentions,” the New York Times reported, citing anonymous sources.

These officials included Finland’s ambassador to the US, Mikko Hautala, who the newspaper said “reached out directly to Mr. Trump and sought to persuade him of his country’s value to NATO as a new member.” Other countries are expected to try and win Trump’s support with “flattery and transactional tributes,” the Times stated, citing interviews with current and former diplomats. Trump has not threatened to pull the US out of NATO. However, he spent his presidency railing against the bloc’s European members, accusing them of freeloading off the US’ massive military presence on the continent while failing to meet NATO’s target of spending 2% of GDP on defense. Trump used NATO’s annual summits to berate European leaders into boosting their military spending, and according to former National Security Advisor John Bolton, was ready to announce the US’ withdrawal from the alliance in 2018.

Trump’s final national security advisor, Robert O’Brien, and Republican Senator Lindsey Graham, told the Times that the former president’s NATO-related gripes should be viewed as a negotiating tactic, aimed at pressing European members into committing more money to the bloc. In a statement to the Times, Trump wrote that “it is the obligation of every US president to ensure that America’s alliances serve to protect the American people, and do not recklessly endanger American blood and treasure,” adding that his “highest priority” would be “the defense of our own country, our own borders, our own values, and our own people.”

Such a statement is consistent with Trump’s long-standing view that American troops should not be “the policemen of the world.” While Trump carried out military strikes on Afghanistan, Iraq, and Syria, he attempted to withdraw American troops from all three countries, and was the only US president in modern history not to engage in a new foreign war. However, Trump’s former defense secretary, Marc Esper, told MSNBC on Thursday that this anti-interventionism would lead to the eventual collapse of NATO. If Trump were to pull military support for Ukraine, Esper claimed, “the whole effort to support Ukraine in its war with Russia would eventually crumble,” as would the alliance itself if Trump then began pulling troops from Europe.

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“..it makes no sense to insist that there is no direct evidence while opposing efforts to establish such evidence..”

• With Hunter’s Indictment, Democrats Face A Moment Of Maddening Truth (Turley)

Author Aldous Huxley once said, “you shall know the truth, and the truth shall make you mad.” Such a moment of madness has arrived in Congress as members prepare to vote on the formal approval of an impeachment inquiry. The second indictment of Hunter Biden shattered long-standing denials and narratives repeated by the White House and members of Congress. What is left in its wake is now plain to the public: corruption. The vote is not whether to impeach President Biden, but whether members support the investigation into these growing allegations of corruption by the Biden family. According to recent polling, nearly 70 percent of voters (and 40 percent of Democrats) believe that Biden has acted unlawfully or unethically or both. Yet with almost half of the Democratic Party viewing Biden’s conduct as worthy of investigation, it is not clear whether a single Democratic member will vote to look into these allegations.

In September, I testified at the first impeachment inquiry hearing and stated that the evidence had clearly passed the threshold for such an inquiry. While there was no requirement to hold a formal vote to start this process (as the Democrats did with Trump), I encouraged the members to hold such a vote. Since that hearing, the evidence has only mounted against President Biden. It is now clear that Biden lied when he maintained as a candidate, and later as president, that he had no knowledge of his son’s business dealings with foreign interests. Even Hunter himself contradicted the president on this claim. It is also now clear that he lied in denying that his son never made money in China. The indictment confirms massive transfers from Chinese sources.

It is also clear that Hunter was engaged in raw influence peddling. This included threatening at least one Chinese businessman that his father was sitting next to him and would retaliate against him if he did not send millions to the Bidens. President Biden also lied when he claimed this week that he had not had any “interactions” with his son’s business associates. There are emails, audiotapes and testimony now disproving that claim. Millions of dollars flowed to Biden family members through a labyrinth of shell companies and accounts. Hunter Biden sent emails saying that up to half of his income went to his father while they used shared accounts and credit cards for expenses. Even Biden associates now admit that they were selling “the Biden brand” and influence with Joe Biden. Advocates simply argue that they were merely selling the “illusion” of influence.

It is now time to see if a single Democratic member will stand against corruption and support an inquiry into the president’s role and later cover-up of this corruption. That includes the use of White House staff to spread false claims and attack critics. I have previously discussed four possible articles of impeachment that warrant investigation. One of the false narratives being bandied about is that there is no proof that the influence peddling Biden’s son and brothers benefited the president himself. Thus, the argument goes, even though he was the subject of the influence peddling, Joe Biden did not legally or constitutionally benefit from the payments to constitute bribery or other crimes.

That is utter nonsense. The courts have repeatedly found that benefits to family members (far more modest than the millions in this case) can constitute bribery for a politician. That has also been the position of the Justice Department in past cases. Regardless of whether Hunter or his associates were speaking truthfully about handing over percentages of these funds to Joe Biden, he practically and legally benefited from the millions going to his family. Even if members insist that they are not yet convinced, it makes no sense to insist that there is no direct evidence while opposing efforts to establish such evidence. These members have opposed any investigation into the allegations from the start.

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“..existing home sales have dropped near record lows, and roughly $6.5 trillion of commercial real estate debt remains an overhang..”

• Americans Running Out Of Savings – JPMorgan (RT)

Most Americans have already drained the excess savings they made during the Covid-19 pandemic, Marko Kolanovic, a senior stock strategist at JPMorgan bank, said in a note this week. According to Kolanovic, inflation-adjusted liquid assets such as deposits and money market funds of nearly all US consumers will be below 2019 levels by mid-2024. “It is likely that only the top 1% of consumers by income will be better off than before the pandemic,” he warned, noting the recent surge of credit card and auto loan delinquencies and a growing number of bankruptcy protection filings.

According to JPMorgan’s earlier calculations, Americans’ excess savings reached a record high in August 2021 at $2.1 trillion. However, in October this year, they were down to around $148 billion. The bank’s strategists explained at the time that the trend stems from “tighter credit conditions and rising rates, wind-down of Covid-era stimulus and relief programs,” as well as multiple years of above average inflation. Kolanovic noted that the housing market is so far stable despite high borrowing costs, “as consumers locked in low interest rates.” “However, existing home sales have dropped near record lows, and roughly $6.5 trillion of commercial real estate debt remains an overhang,” he warned.

Meanwhile, US credit card debt has continued to surge this year, marking the eighth consecutive quarter of year-over-year increases in the three months to September, according to the New York Federal Reserve bank. Researchers have noted that more and more households are having difficulty managing their debt amid persistently high inflation and rising interest rates, a tendency that could signal “real financial stress.”

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“..renewable energy is unreliable and uneconomic, and has an insatiable requirement for financial subsidy..”

• Net Zero Requires 80 Million Kilometres of New Power Lines By 2040 (DS)

Achieving Net Zero means building 80 million kilometres of new and refurbished power lines within 17 years, equivalent to wrapping the Earth 2,000 times with new electricity grid capacity. All the high voltage lines built in the last century will need to be built again by 2040 to benefit from all the intermittent power produced by the vast number of wind turbines. The ecological costs of all this can only be guessed at. Electricity cables are made of aluminium and copper and strung on giant pylons made of steel and supported by large concrete bases. For their part, wind turbines are a menace to both avian and oceanic wildlife, consume vast quantities of raw materials, have a limited lifespan and are an increasing blight on both inland and offshore landscapes.

If the International Energy Agency (IEA) gets its way, you ain’t seen nothing yet. The roll-out of high voltage lines will be on an unprecedented scale. In a report on global electricity grids issued to coincide with COP28, the IEA states that “an unprecedented level of attention from policymakers and business leaders is needed to ensure grids support clean energy transitions and maintain electricity security”. Major changes in how grids operate and are regulated are said to be essential. Annual investment in grids, which has remained broadly stagnant, needs to double to more than $600 billion a year by 2030. The Australian science journalist Jo Nova is in no mood to be understanding: “Remember, it’s not their fault that renewables need far more land, more space, more backup and more infrastructure – it’s our fault we didn’t build a world ready for their holy energy.”

The IEA paints a world where electricity grids are becoming a “bottleneck” for transitions to Net Zero emissions. While investment in renewables has been increasing rapidly, global investment in grids “has barely changed”. In Europe, policymakers can speed up progress on grids by “enhancing planning, ensuring regulatory risk assessments allow for anticipatory investment, and streamlining administrative processes”. In plain English this means ripping up local planning laws in over-populated Britain and blanketing the country with millions of giant electricity pylons. These will be required to bring energy to urban areas from power intermittently generated far away in the North Sea and off the Scottish coast.

It is perhaps no coincidence that the British Government recently set out “major plans” to speed up connections and rapidly increase capacity on the electricity grid. The press release cunningly linked it with a £960 million government investment in “green industries”. The new package is “expected” to bring forward £90 billion of investment over the next 10 years. The Government promised that it will “reward” those living closest to new infrastructure with up to £1,000 a year off their electricity bills. In another part of the release, this is downgraded to communities “could” benefit, and the bung is limited to 10 years. Whatever the money is spent on, it is likely to be chickenfeed compared with the growing £12 billion annual subsidy paid by electricity consumers to the producers of renewable energy. But the next British government will face an empty exchequer and soaring state debt. Lack of finance along with the end of low interest rates and free money printing is likely to kill many of the green fantasises currently being peddled by collectivist Net Zero fanatics. It is becoming clearer by the day, to an increasing number of people, that renewable energy is unreliable and uneconomic, and has an insatiable requirement for financial subsidy.

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Reindeer antlers

 

 

Reindeer cyclone

 

 

Kinetic

 

 

 

 

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

 

 

 

 

 

Debt Rattle November 12 2023

Nov 122023
 
 November 12, 2023  Posted by at 10:08 am Finance Tagged with: , , , , , , ,  40 Responses »


Canaletto Venice, View of the Churches of the Redentore and San Giacomo 1750

 

• We Are ‘The Resistance’ (Julian Rose)
• Self-defence and the Right to Resist in Palestine (Sinclair/Cohn)
• West Asian Governments Take Stance Against Israeli Occupation (Rahman)
• Israel Acting Like ‘Spoiled Child’ Of The West – Erdogan (RT)
• WaPo Calls Ukrainian Colonel ‘Coordinator’ of Nord Stream Attacks (Sp.)
• Ukraine Risks Losing Entire Fleet of Leopard Tanks (Sp.)
• EU Can Circumvent Hungarian Veto On Ukraine Aid – Media (RT)
• Next Month Could Decide Ukraine Conflict – Macron (RT)
• Germany Wants To Send Asylum Seekers To Africa – WSJ (RT)
• From The Testimony of Special Counsel David Weiss (Techno Fog)
• David Weiss and America’s First Nihilist Prosecutor (Turley)
• NBC Compares Hunter’s Influence Peddling to Haley’s Daughter’s TikTok (Turley)
• Gerald Celente Withdraws Support due to Kennedy’s Israel War Position (Dick)
• We are Spartacus (John Pilger)

 

 

 

 

Nakba

 

 

 

 

Arab

 

 

Norway

 

 

 

 

Gaza gas

 

 

Assad

 

 

 

 

London protest


https://twitter.com/i/status/1723377760653942956

 

 

Patrick Henningsen @21WIRE: “All of the main “so horrific” narratives attributed to Hamas on Oct 7th & subsequently used by Israel and western warmongers to justify the carpet bombing and genocide in #Gaza – have been proven to be completely fabricated. Thats right: total fake news.”

 

 

 

 

“..the most telling indicator of the bankruptcy of what is considered to be ‘civilised society’”

• We Are ‘The Resistance’ (Julian Rose)

As one attempts to make sense of the horrors of war that the global media flashes across screens and newsprint, day and night 24/7, one can feel a numbing sensation closing down one’s ability to respond, as an organic human being should respond. The breathtaking volume of bombs, blood and brutality that form the centrepiece of the devastation in Gaza, comes on top of the seemingly interminable hostilities playing-out their realities in Ukraine. In all of this, any sign of a credible, reasoned and rational intervention is lost beneath a sea of soulless, hypocritical statements from those in positions of ‘authority’ on the world stage. National or geopolitical ‘positions’ taken by rolled-out representatives of the status quo, are held to be more important than responses that have some link to heart felt emotions.

Scenes of mass genocide and ethnic cleansing are condoned as ‘acceptable’ if those responding to the bloodbath see some political or geopolitical advantage in backing the cause of the chief protagonist. Those who for long periods of their lives are deeply repressed and isolated, seek reprisals if ever the chance comes their way to breakout of slavery. This is, under permanent conditions of inhuman containment, an almost inevitable reaction. One cannot judge behaviour patterns of those suffering under conditions of persistent repression, as being in any way comparable to what are considered acceptable behaviour patterns in times of relative peace and freedom. The human struggle for a basic degree of liberty is forced into taking the form of a violent struggle when no other support intervenes to bring justice to bear.

This lack of coordinated intervention to end a massacre is the most perilous aspect of the ‘Israel-Hamas’ conflict, and it the most telling indicator of the bankruptcy of what is considered to be ‘civilised society’. A fear of going against the dogma of what constitutes the pecking order of the global power pyramid, appears to paralyse nations from coming together to enforce a humane path of conflict intervention and resolution, however tenuous that might initially be. But the truth is, that behind this implausible state of impasse, is a small anti-life global cult that wishes to prolong the pain and destruction for its own ends, and covertly backs both sides of the conflict in order to produce the maximum disruption, chaos and death.

Yes, this is pure evil in action. It is the manifestation of a long standing, once covert, but now overt demonic ambition – whose roots go far back in human history – and which has recently emerged as the chief protagonist of disruptive chaos and division now manifesting at the foundational level of our daily lives. The problem for all of us who are determined to resist the manifestations of such dark actors, is that this cult is very clever, highly deceptive and well disguised. Its main agents wear a fixed smile, a pressed shirt and are very well rehearsed in powers of communication. Psychopaths in a suit. One would never guess that they harbour an abiding hate for a creative, loving humanity. But they do.

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“A state cannot invoke the right of self-defence to defend against an attack which originates inside a territory it occupies..”

• Self-defence and the Right to Resist in Palestine (Sinclair/Cohn)

[..] The UN charter requires all states to settle their international disputes peacefully so as not to endanger international peace and security. That doesn’t just apply to states, but also to the settlement of any international disputes. The charter says no state can use military force against the territorial integrity or political independence of another state “or in any other manner inconsistent with the Purposes of the UN.” Although Israel denies that Palestine is a state, the Israeli Supreme Court in the Targeted Killings case recognised the dispute between Israel and the Palestinians to be of an international character. Israel cannot use the Palestinians’ lack of statehood to justify its use of military force.

The only two exceptions to the prohibition on the use of force are when a state acts in self-defence or the [UN] security council authorises force. A state may use military force in self-defence under Article 51 of the charter “if an armed attack occurs” against a state. The use of armed force for reprisal or retaliation is prohibited. For an armed attack to give rise to the right of self-defence, it must be directed from outside the territory under the control of the defending state. A state cannot invoke the right of self-defence to defend against an attack which originates inside a territory it occupies. Because Israel has continued to occupy Gaza, it has relinquished its right to claim self-defence in response to the Palestinian attacks.

In its 2004 advisory opinion on the Legal Consequences of the Construction of a Wall in the Occupied Palestinian Territory, the International Court of Justice (ICJ) established the non-applicability of “self-defence” under Article 51 in the situation between Israel and the Occupied Palestinian Territory. Israel remains an occupying power in Gaza despite its unilateral removal of settlements. After the 2005 election of Hamas, Israel imposed a blockade against Gaza which is specifically listed as an act of aggression under UN general assembly resolution 3314. An occupying force has a duty to protect the people it occupies; it cannot claim self-defence against the occupied.

Actions taken by Palestinians to resist the blockade are not “acts of aggression” so they do not allow Israel to claim it is acting in self-defence. Aside from the illegality of targeting and killing civilians, what does international law say about Palestinians resisting the occupation, including with armed force? Whether the use of force in the first instance is lawful is a separate question from how that force is carried out. For targeting and killing civilians and taking hostages, Hamas leaders can be charged with war crimes. The Palestinians, however, have the right to self-determination and the right to resist Israel’s occupation of their territory, including through armed struggle.

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Driving the Arab world together.

• West Asian Governments Take Stance Against Israeli Occupation (Rahman)

The responses to Israel’s genocidal war in Gaza from some of the West Asian countries have set an interesting pattern. These responses defy a decades long trend of muted opposition and behind the curtain compromises. More importantly, this is yet another indication of growing assertion and independence of these countries from US hegemony. Since the 1980s, the US was able to use its military and economic power to create a complete hegemony over the ruling classes in the West Asian region. The countries which maintained their independence were exceptions, such as Syria and Iran. The Palestinian Liberation Organization (PLO) was forced to seek a compromise with the occupation, after governments in the region threatened to withdraw their support, under clear US pressure.

In this sense, the signing of the Oslo accords in 1993 and in 1995 is seen as a part of the US scheme for the region. The absence of any strong opposition to Israel’s repeated wars and large scale human rights violations in Gaza and other occupied Palestinian territories in the intervening period can be explained in the context of that US hegemony. In a general way, one can see that the countries which did not fall in line with the US were forced into endless wars starting with Iraq, then Yemen, Libya, and Syria or isolated through prolonged sanctions such as in Iran. Egypt and Jordan, highly dependent on the US, had long established diplomatic relations with Israel in 1979 and 1994 respectively and played a crucial role in forcing Palestinians to accept the unviable Oslo agreements.

Those who could not establish formal relations with Israel were persuaded to maintain a kind of neutrality by not criticizing Israeli war crimes in the occupied territories. The dependence on the US arms and military assistance led some of the Gulf countries and Morocco to even sign a normalization deal with Israel in recent years. Ever since the beginning of the Israeli war on Gaza, however, the positions of tacit and explicit compliance with Israel have changed. Many countries in the region, including those who had signed the so-called Abraham Accords, have taken assertive positions on the issue, with many calling Israel an aggressor and demanding an end to the occupation. The visits of the US president Joe Biden and Secretary of State Anthony Blinken were ineffective in getting any public assurances from the regional leaders prompting the US to deploy more armed personnel and more warships in the region.

Egypt has refused to open Rafah borders as requested by Israel and the US so that they could push millions of Palestinians out of Gaza for an indefinite period. Egyptian president Abdel Fattah el-Sisi even advised Israel to relocate the displaced Palestinians in its Negev desert. Egyptian authorities allowed large scale gatherings of people in solidarity rallies for Palestine, perhaps for the first time since the military coup in 2013. Turkish president Recep Tayyip Erdogan has repeatedly called the bombings in Gaza a massacre and criticized Israeli prime minister Benjamin Netanyahu as someone “not worth talking to.” Turkey eventually withdrew its ambassador from Israel.

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“It is a shame that Western countries, always a voice for human rights and freedoms, remain silent on the massacre in Palestine..”

• Israel Acting Like ‘Spoiled Child’ Of The West – Erdogan (RT)

Turkish president Recep Tayyip Erdogan has hit out at the collective West for inaction amid what he said was an ongoing “massacre in Palestine,” adding that the Israeli government is behaving like a “spoiled child” in its response to Hamas’ cross-border attack on October 7. Speaking at a joint Arab-Islamic summit in the Saudi Arabian capital Riyadh on Saturday, Erdogan accused Western nations of double standards and highlighted what he sees as contrasts in their responses to other global conflicts. He added that “the Israeli government is acting like the spoiled child of the West, and it has to compensate for the damages that it causes.” “It is a shame that Western countries, always a voice for human rights and freedoms, remain silent on the massacre in Palestine,” Erdogan said, according to the Anadolu news agency.

“We are faced with unprecedented barbarism in history, where hospitals, schools, and refugee camps are bombed and civilians are massacred.” Saturday’s emergency summit at which the Turkish leader spoke was jointly organized by the Arab League and the Organization of Islamic Cooperation (OIC) as representatives of the Arab and Islamic world convened to discuss the Israeli-Hamas conflict. In his comments, Erdogan added that Western countries “are not even making a call for a ceasefire to Israel.” On Thursday, US President Joe Biden told reporters at the White House that he currently sees “no possibility” for a ceasefire in Gaza, arguing that this would only benefit Hamas. Erdogan also stressed the importance of supplying fuel to places in urgent need in Gaza, particularly hospitals, and said that Türkiye will provide ten flights of essential supplies to El Arish airport in Egypt to be dispatched to Gaza.

He also suggested the establishment of an OIC fund to help with the rebuilding of Gaza, saying that Türkiye would provide comprehensive support. Israel has launched an unprecedented military bombardment of the densely-populated Gaza enclave in retaliation for Hamas’ assault on its territory last month and as part of Prime Minister Benjamin Netanyahu’s resultant pledge to destroy Hamas. Israeli officials said on Friday that about 1,200 of its citizens –mostly civilians– died in the attack, revising downwards its prior estimates. In excess of 11,000 people have died in more than four weeks of artillery and airstrikes in Gaza, Palestinian health officials have said, with about 40% of them children. Independent aid organizations have also warned of a deepening humanitarian crisis as vital supplies dwindle and more and more people seek medical treatment in a health system already over capacity.

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Let’s cut a deal. If Seymour Hersh says he was wrong, we can talk about alternative narratives. Until then, this is just one of many suspicious stories.

• WaPo Calls Ukrainian Colonel ‘Coordinator’ of Nord Stream Attacks (Sp.)

Ukrainian colonel Roman Chervinsky was the alleged coordinator of the attack on the Nord Sream pipelines, the Washington Post reported on Saturday, citing Ukrainian and European Officials as well as other people familiar with details of the operation. The newspaper, which called Chervinsky a senior Ukrainian military officer with close ties to the country’s intelligence, reported that the colonel allegedly played a key role in the attack on the Nord Stream gas pipelines last year. Chervinsky was the “coordinator” of the operation, and he did not act alone, the report also said. The Ukrainian officer took orders from more senior officials, who ultimately reported to Ukrainian Commander-in-Chief Valery Zaluzhny, the newspaper reported, citing people familiar with how the attack was carried out. The Nord Stream pipelines, built to deliver gas under the Baltic Sea from Russia to Germany, were hit by explosions in September 2022.

The pipeline’s operator, Nord Stream AG, said that the damage was unprecedented and it was impossible to estimate the time repairs might take. Denmark, Germany and Norway have left Russia out of their investigations into the attack, prompting Moscow to launch its own investigation with charges of international terrorism. No official results of the investigations have yet been announced, but Pulitzer Prize-winning US investigative journalist Seymour Hersh published a report in February 2023 alleging that the explosions had been organized by the United States with the support of Norway. Washington has denied any involvement in the incident. In mid-July, media reported that Dutch military intelligence had informed the CIA of Ukraine’s plans to sabotage the Nord Stream pipelines – months before the attacks happened.

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“..a quarter of Ukraine’s Leopard 2 tanks, including the Leopard 2A6 modification, had been destroyed by Russian forces within two weeks..”

• Ukraine Risks Losing Entire Fleet of Leopard Tanks (Sp.)

Ukrainian soldiers still cannot use German-made Leopard tanks properly and face a risk of completely losing these armored vehicles, Forbes magazine has reported. With Kiev using both Leopard 1 and 2 tanks in the Russian special operation zone, the US magazine recalled that Ukraine is due to receive 195 more Leopard 1A5s in the foreseeable future. “All those Leopard 1A5s represent an opportunity, albeit a risky one,” the magazine noted, referring to the fact that Ukraine has already lost at least 13 “of its best Leopard 2 tanks” since the beginning of Kiev’s now-botched summer counteroffensive.

Now, Forbes went on, what Ukrainian soldiers should not do is “what they frequently have done with the Leopard 2s: drive them in small groups, without much infantry support, directly toward Russian positions—often across minefields and artillery and drone kill-zones.” The news outlet also cautioned that almost two hundred Leopard 1A5s “will disappear quickly if the Ukrainians don’t deploy them the right way.” This comes after the outlet reported that a quarter of Ukraine’s Leopard 2 tanks, including the Leopard 2A6 modification, had been destroyed by Russian forces within two weeks in the special operation zone.

In all, Western countries pledged to provide the Zelensky regime with 85 Leopard 2s. To date, they have delivered a total of 71. Kiev’s summer counteroffensive, which Russian President Vladimir Putin said had ended in total failure, led to the Ukrainian Army losing more than 500 tanks and almost 1,900 armored vehicles of various classes. The US, along with its NATO allies, ramped up their supplies to Kiev shortly after the start of the Russian special military operation in Ukraine. Moscow has repeatedly warned that such assistance adds to the prolongation of the conflict.

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Got to keep the sinkhole open.

• EU Can Circumvent Hungarian Veto On Ukraine Aid – Media (RT)

The EU will be able to grant Ukraine €50 billion ($53.4 billion) in aid even if Hungary vetoes it, Reuters reported on Friday, citing unnamed officials in the bloc. The European Commission has proposed giving Ukraine further grants and loans to help in the conflict with Russia, although Hungary and Slovakia vetoed the move last month. The EU’s 27 members will next vote on the €50 billion aid package at a summit in Brussels in December. If Hungarian Prime Minister Viktor Orban, who has repeatedly called for a ceasefire and peace talks in Ukraine, vetoes the move again, the bloc could circumvent this by asking each of the other EU governments to set up their own aid packages for Kiev, two EU officials told Reuters.

According to the news agency, one official said “people get fed up with Budapest holding everyone hostage,” adding that “the workaround is tiresome, but we have it if need be.” A second official agreed, insisting that “the issue of money for Ukraine will be solved one way or another, Kiev will get EU support.” Orban previously explained that he had blocked the aid package for Ukraine because it was “obvious” that Kiev “will not win on the frontline,” and that Brussels’ strategy of sanctioning Russia while pumping Ukraine with money and weapons had failed.

The EU has authorized a total of €83 billion in military, economic, and humanitarian aid to Ukraine since the start of Russia’s military operation in February 2022, according to the European Commission. Despite Western assistance, Kiev’s much-hyped summer counteroffensive failed to meet its objectives. The Russian Defense Ministry has estimated that Kiev has lost more than 90,000 troops since June, as well as over 55 tanks and 1,900 armored vehicles. Ukraine’s top military commander, General Valery Zaluzhny, acknowledged last week that Kiev’s troops were unlikely to make a “deep and beautiful breakthrough,” adding that an attritional trench war could “drag on for years” and grind down his country.

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It was decided ages ago.

• Next Month Could Decide Ukraine Conflict – Macron (RT)

The Ukraine conflict could reach a turning point by the end of this year, French President Emmanuel Macron has predicted, several months into Kiev’s counteroffensive, which has so far failed to make significant gains. However, he ruled out the possibility of Ukraine opening talks with Russia in the foreseeable future. In an interview with the BBC released on Friday, Macron claimed that if Moscow prevails over Kiev, “you will have a new imperial power” in Europe that, he argued, would threaten many of its neighbors, including former Soviet republics. The French leader reiterated that the West should continue to support Ukraine with military assistance, arguing that next month will be critical in the conflict. However, he did not specify how events in December could affect the eventual outcome.

Regarding a possible cessation of hostilities, Macron suggested that it is “not yet” time for Ukraine to come to the negotiating table with Russia, and that a decision on the matter should be made by Kiev independently. However, he said that at some point it might be possible to “have fair and good negotiations, and to come back to the table and find a solution with Russia”. Ukraine’s counteroffensive has been underway since early June, but the frontline remains largely unchanged. Russian Defense Minister Sergey Shoigu has estimated Ukrainian losses at more than 90,000 service members as well as 600 tanks and 1,900 armored vehicles since the start of the push. US network NBC News reported last week that Western officials were engaged in “delicate” talks with Kiev to see whether it could consider some concessions to Russia to end the fighting.

According to the article, the calls were driven by fears in the West that the hostilities have “reached a stalemate,” and that Ukraine is “running out of forces.” Russia has repeatedly said it is open to talks with Kiev. Last autumn, however, Ukrainian President Vladimir Zelensky signed a decree banning all negotiations with the current leadership in Moscow after four former Ukrainian regions overwhelmingly voted to join Russia in public referendums. Last year, Macron suggested that any peace talks on Ukraine would have to include discussions on security guarantees for Russia, especially regarding the positioning of NATO forces in Europe. Ukrainian officials, however, rejected the idea out of hand.

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Creative solutions.

• Germany Wants To Send Asylum Seekers To Africa – WSJ (RT)

Germany is working on a plan to send some asylum seekers to Africa while their cases are pending, the Wall Street Journal reported on Friday. Berlin is considering asking Kenya, Ghana, Senegal, Morocco, and other African countries to house some asylum seekers while their applications are processed, as the procedure can take “years,” the newspaper said, citing unnamed German officials. The proposals are still being negotiated but could include the permanent resettlement in these countries of people who do not win refugee status, according to the WSJ’s sources. The scheme could also be used to encourage those who are eligible for protection in Germany to settle in third countries.

Chancellor Olaf Scholz, his top aides and key ministers “have been exploring deals to reroute some refugee flows through Africa for months and are now drafting offers to various governments,” unnamed officials told the WSJ. News of the potential change in Germany’s migration policy comes after Italian Prime Minister Giorgia Meloni announced plans to set up reception centers for asylum seekers in Albania. She insisted that the agreement “could become a model of cooperation between EU and non-EU countries in managing migration flows.” The International Rescue Committee (IRC) has criticized the deal, accusing Italy and Albania of focusing on “preventing people from arriving in the EU rather than creating safe and legal avenues for those seeking refuge.” It added that the idea of “processing migrants” was “deeply dehumanizing.”

At the same time, the UK government is fighting a court battle to be allowed to send some asylum seekers to Rwanda. Attempts to arrange a flight carrying migrants to the East African country was blocked last year after legal challenges, although the UK High Court is expected to make a final decision next week. According to The Times, Germany’s immigration system is facing major challenges due to a rise in the number of asylum seekers, as well as the arrival of more than 1 million Ukrainian refugees who have fled their country since the start of Russia’s military operation in February 2022. Many local German authorities reportedly say they have reached full capacity and can no longer accept irregular migrants, while the number of people seeking asylum in the country over the course of 2023 is expected to exceed 300,000, The Times said.

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“..Weiss has investigated Hunter Biden for approximately five years..”

• From The Testimony of Special Counsel David Weiss (Techno Fog)

Ever since explosive whistleblower testimony detailing DOJ efforts to sabotage the Hunter Biden investigation was released this summer, the US Attorney (and now Special Counsel) in charge of that investigation – David Weiss – has been under siege. Beset with allegations of misconduct by those who had been part of his investigative team, and self-inflicted mistakes such as allowing the statute of limitations on tax crimes to pass, Weiss (who was appointed Special Counsel in August) provided closed-door testimony this week before the House Committee on the Judiciary, led by Jim Jordan.It was a rare opportunity to obtain testimony from a Special Counsel – they typically only testify after their reports have been completed.

And while he refused to answer specifics concerning Hunter’s plea deal, the status of his investigation, and why he allowed the statute of limitations to pass on some of Hunter’s tax crimes, Weiss’s testimony does provide important context regarding what has transpired since his investigation began. For background, Weiss has investigated Hunter Biden for approximately five years. According to the testimony of whistleblower Gary Shapley, a highly-credentialed IRS Criminal Supervisory Special Agent, this investigation “has been handled differently than any investigation I’ve ever been a part of for the past 14 years of my IRS service.” Agent Shapley explained:

“Some of the decisions seem to be influenced by politics. But whatever the motivations, at every stage decisions were made that had the effect of benefiting the subject of the investigation. These decisions included slow-walking investigative steps, not allowing enforcement actions to be executed, limiting investigators’ line of questioning for witnesses, misleading investigators on charging authority, delaying any and all actions months before elections to ensure the investigation did not go overt well before policy memorandum mandated the pause. These are just only a few examples.”

As we noted back in June, the preferential treatment included: denials of normal investigative steps like looking into Hunter Biden’s communications; tipping off the Biden Transition Team that Hunter Biden would be interviewed; and refusing search warrants of Joe Biden’s home, though the Assistant US Attorney (Lesley Wolf) helping with the case admitted it was “likely” there would be evidence. One of the biggest revelations from the whistleblowers was that Weiss, who was the Delaware US Attorney at the time, was denied authority to file charges against Hunter Biden in DC or California.

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“Congress was scheduled to hear from Weiss when Garland suddenly made him a special counsel [..] That allowed Weiss to delay any appearance..”

• David Weiss and America’s First Nihilist Prosecutor (Turley)

The philosopher Friedrich Nietzsche once said that all things are matters of mere interpretation and “whichever interpretation prevails at a given time is a function of power and not truth.” One has to understand Nietzsche and his nihilistic rejection of meaning to fully appreciate this week’s interview with special counsel David Weiss. Indeed, Weiss may be the first openly nihilistic prosecutor, who views justice itself as a mere matter of interpretation. Weiss appeared before the House Judiciary Committee, which is looking into the handling of the investigation into Hunter Biden’s alleged criminal conduct. The one thing that both Republican and Democratic members appear to agree upon is that the Weiss investigation was an unmitigated mess — years of delay and internal dissension over the indictment of the president’s son.

Indeed, after years of denial, some Democratic members and the journalists are now admitting that Hunter Biden clearly broke the law. The Weiss investigation, however, languished for years even as some of us were pointing out that the statute of limitations was about to pass on felonies. At the same time, Attorney General Merrick Garland steadfastly refused to appoint a special counsel into the expanding corruption scandal involving Hunter and other Biden family members selling influence and access. Congress was scheduled to hear from Weiss when Garland suddenly made him a special counsel, though the attorney general did not expressly extend his mandate to cover the corruption allegations. That allowed Weiss to delay any appearance. He would bring gun charges against Hunter, but he has inexplicably still not brought the tax charges that he did not previously allow to expire or charges under laws like the Foreign Agents Registration Act.

Weiss has shown no signs of movement as evidence has piled up. Most recently, Hunter’s own tax accountat gave incriminating evidence on his former client from claimed the payment of prostitutes as “a business expense” to allegedly misrepresenting payments as “loans.” As expected, Weiss continued to refuse to answer questions about his lackadaisical approach. That includes obvious questions like why, when whistleblowers said the defense had agreed to an extension of the statute of limitations, Weiss let felonies expire. Those crimes included some of the most serious allegations of influence peddling and corruption facing the Biden family.

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“..objectivity is now considered reactionary and even harmful..”

• NBC Compares Hunter’s Influence Peddling to Haley’s Daughter’s TikTok (Turley)

We have often discussed (and even marveled at) the determined effort of mainstream media to ignore the evidence of a massive corruption scandal surrounding the Biden family. However, even at this late date, NBC seems to have achieved singular distinction with a comparison between the criticism of the daughter of Nikki Haley for using TikTok and the criticism of Hunter Biden for influence peddling. During the Republican presidential debate, Vivek Ramaswamy responded to Haley’s criticism of his use of the Chinese-linked social media app, TikTok, by pointing out: “she made fun of me for joining TikTok, while her own daughter was actually using the app for a long time, so you might want to take care of your family first.” Haley responded by calling Ramaswamy “scum.” Later Gov. Ron DeSantis said that children need to be out of bounds.

NBC saw an immediate opportunity to denounce the investigation into Hunter Biden: “Florida Gov. Ron DeSantis says he believes going after an opponent’s children is ‘out of bounds’ in political warfare. DeSantis, however, goes after President Biden’s son on a weekly basis.” The comparison perfectly captured the all-hands-on-deck effort of the media in resisting coverage of the Biden scandal. A major network wanted the public to see the criticism of Haley’s daughter for using TikTok as the same as criticism of Biden’s son for influence peddling. One child was posting playful social media posts while the other was orchestrating massive payments from foreign figures. This is why polls have shown the media at record lows in terms of public trust. Gallup and the Knight Foundation found that 50% of Americans believe that the news media lies in order to promote an agenda.

Only 25% of Americans reject that premise. The public has largely rejected the mainstream coverage (or lack thereof). A majority believes that Hunter has received special protection in the investigation. We have often discussed the increasing bias and advocacy in major media in the United States. While cable networks have long catered to political audiences on the left or right, mainstream newspapers and networks now openly frame news to fit a political narrative. We previously discussed the release of the results of interviews with over 75 media leaders by former executive editor for The Washington Post Leonard Downie Jr. and former CBS News President Andrew Heyward. They concluded that objectivity is now considered reactionary and even harmful. Emilio Garcia-Ruiz, editor-in-chief at the San Francisco Chronicle said it plainly: “Objectivity has got to go.”

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It’s kryptonite for Kennedy’s run. Even as Trump and Biden are just as blind to Israel.

• Gerald Celente Withdraws Support due to Kennedy’s Israel War Position (Dick)

Back in December of 2022, virtually nobody was even thinking of the possibility that Rober F. Kennedy, Jr. may run in the 2024 presidential race. One of the few individuals who was thinking of this possibility was political commentor and trends forecaster Gerald Celente. Speaking with host David Knight at the David Knight Show, Celente then not only mentioned the possibility, he enthusiastically recommended that Kennedy run with legal scholar Andrew Napolitano, a former New Jersey state judge, as his vice president running mate. Four months later, Kennedy announced his decision to seek the presidency in a speech that included some strong expression of antiwar sentiment. That expression of sentiment would appeal to Celente, a peace advocate who has hosted peace rallies in Kingston, New York, where Celente’s trends forecasting operation is located.

Come October, though, Kennedy made clear that so far as Israel goes he would not be a noninterventionist president. Instead, he would back the Israel government to the hilt in its pursuit of its new war. This followed Kennedy in a July interview with Schmuley Boteach making clear that he is a big booster of Israel and declaring that he would try as a candidate “to bring the Democratic Party back to its traditional support of Israel and to explain to my children’s generation the historical context and the moral case for Israel.” Later in the week, Kennedy wrote the following at Twitter: “As President, my support of Israel will be unconditional.” No reasonable person after seeing that declaration would have hope that Kennedy supports seeking peace across-the-board.

But, hope at least could be held out that Kennedy’s unconditional support for Israel would not materialize as support for war because Israel could remain relatively at peace. That last bit of hope was dashed in October after a Hamas attack on Israel and Israel’s ensuing, and ongoing, massive military attack on Gaza. Indeed, on October 7 — the day of the Hamas attack — Kennedy immediately proclaimed at Twitter that as president he would be absolutely committed to supporting the Israel government in its new war effort, stating:

“This ignominious, unprovoked, and barbaric attack on Israel must be met with world condemnation and unequivocal support for the Jewish state’s right to self-defense. We must provide Israel with whatever it needs to defend itself — now. As President, I’ll make sure that our policy is unambiguous so that the enemies of Israel will think long and hard before attempting aggression of any kind.” I applaud the strong statements of support from the Biden White House for Israel in her hour of need. However, the scale of these attacks means it is likely that Israel will need to wage a sustained military campaign to protect its citizens. Statements of support are fine, but we must follow through with unwavering, resolute, and practical action. America must stand by our ally throughout this operation and beyond as it exercises its sovereign right to self-defense.”

Thus we come to Celente, an early and enthusiastic supporter of a Kennedy run, commenting on Wednesday, in his weekly video discussion with Andrew Napolitano, that he no longer supports Kennedy becoming president. “As you well know, I was a huge supporter of RFK Jr. because I believed that he was pro-peace and antiwar,” said Celente early in the discussion. Responding, Napolitano, who is an Advisory Board member for the Ron Paul Institute, confirmed, “he was, he was — at the time that you and I communicated with him — he was the champion of pro-peace and antiwar, and, then. after the Hamas attack to Israel, he did a 180 and now supports the genocide that the Israeli military is perpetrating on the Palestinian people in Gaza.” Watch here Celente and Napolitano’s full discussion, which also includes Napolitano describing his exchange of texts with Kennedy about Kennedy’s Israel war position and Celente proposing that Napolitano now run for president:

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“The grotesque injustice meted out to David McBride is minted from the injustice consuming his compatriot, Julian Assange..”

• We are Spartacus (John Pilger)

Afghanistan was where the West sent young men weighed down with the ritual of “warriors” to kill people and enjoy it. We know some of them enjoyed it from the evidence of Australian SAS sociopaths, including a photograph of them drinking from an Afghan man’s prosthetic. Not one sociopath has been charged for this and crimes such as kicking a man over a cliff, gunning down children point-blank, slitting throats: none of it “in battle.” David McBride, a former Australian military lawyer who served twice in Afghanistan, was a ‘true believer’ in the system as moral and honourable. He also has an abiding belief in truth, and loyalty. He can define them as few can. This coming week he is in court in Canberra as an alleged criminal.

“An Australian whistleblower,” reports Kieran Pender, a senior lawyer at the Australian Human Rights Law Centre, “[will face] trial for blowing the whistle on horrendous wrongdoing. It is profoundly unjust that the first person on trial for war crimes in Afghanistan is the whistle blower and not an alleged war criminal.” McBride can receive a sentence of up to 100 years for revealing the cover-up of the great crime of Afghanistan. He tried to exercise his legal right as a whistleblower under the Public Interest Disclosure Act, which the current attorney general, Mark Dreyfus, says “delivers on our promise to strengthen protections for public sector whistleblowers.” Yet it is Dreyfus, a Labor minister, who signed off on the McBride trial following a punitive wait of four years and eight months since his arrest at Sydney airport: a wait that shredded his health and family.

Those who know David and know of the hideous injustice done to him fill his street in Bondi near the beach in Sydney to wave their encouragement to this good and decent man. To them, and me, he is a hero. McBride was affronted by what he found in the files he was ordered to inspect. Here was evidence of crimes and their cover-up. He passed hundreds of secret documents to the the Australian Broadcasting Corporation and The Sydney Morning Herald. Police raided the ABC’s offices in Sydney while reporters and producers watched, shocked, as their computers were confiscated by the Federal Police. Attorney-General Dreyfus, self-declared liberal reformer and friend of whistleblowers, has the singular power to stop the McBride trial. A Freedom of Information search of his actions in this direction reveals little, at most, an indifference.

You can’t run a fully-fledged democracy and a colonial war; one aspires to decency, the other is a form of fascism, regardless of its pretensions. Mark the killing fields of Gaza, bombed to dust by apartheid Israel. It is no coincidence that in rich, yet impoverished Britain an “inquiry” is currently being held into the gunning down by British SAS soldiers of 80 Afghans, all civilians, including a couple in bed. The grotesque injustice meted out to David McBride is minted from the injustice consuming his compatriot, Julian Assange. Both are friends of mine. Whenever I see them, I am optimistic. ‘You cheer me,’ I tell Julian as he raises a defiant fist at the end of our visiting period. ‘You make me feel proud,’ I tell David at our favourite coffee shop in Sydney.

Their bravery has allowed many of us, who might despair, to understand the real meaning of a resistance we all share if we want to prevent the conquest of us, our conscience, our self respect, if we prefer freedom and decency to compliance and collusion. In this, we are all Spartacus. Spartacus was the rebellious leader of Rome’s slaves in 71-73 B.C. There is a thrilling moment in the Kirk Douglas movie Spartacus when the Romans call on Spartacus’s men to identify their leader and so be pardoned. Instead hundreds of his comrades stand and raise their fists in solidarity and shout, ‘I am Spartacus!’ The rebellion is under way.

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UFC

 

 

 

 


The lowland nyala or simply nyala, is a spiral-horned antelope native to southern Africa that you might have never seen. As a herbivore, the nyala feeds upon foliage, fruits and grasses. A shy animal, it prefers water holes rather than open spaces.

 

 


The Giant Hand of Vyrnwy: There was this tree in Wales that was 124 years old, it reached higher than a 20 storey building (63.7m (209ft). It was damaged in a storm and had to be felled. Artist Simon O’Rourke carved what remained into this hand as a memorial, a last attempt to reach the sky.

 

 

Piano

 

 

 

 

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

 

 

 

 

 

Debt Rattle August 3 2022

Aug 032022
 
 August 3, 2022  Posted by at 8:11 am Finance Tagged with: , , , , , , , , ,  40 Responses »


Odilon Redon The winged man (The fallen angel) 1880

 

• US Directly Involved In Ukraine Conflict – Moscow (RT)
• West Advises Ukraine On Strikes With Supplied Weapons – Top Intel Official (RT)
• Russia Strikes Foreign Fighters’ Base In Ukraine (RT)
• African Nations To Make Case For Big Rise In Fossil Fuel Output (G.)
• EU Facing Winter Energy Crisis – Borrell (RT)
• Netherlands Faces Winter Of Smog – Media (RT)
• EU Is Not Our Boss – Hungary (RT)
• Canada’s Travel Ban Had No Scientific Basis (CS)
• Are Lockdowns Effective in Managing Pandemics? (MDPI)
• New Zealand Plans To Tax Farmers For Livestock Burps (TCS)
• When The Just Go to Prison (Chris Hedges)
• Top Epidemiologist Predicts Insurers Will Go After Covid Vax Makers (JTN)
• An Honest Money Would Stop Inflation by Don Werkheiser (Greco)

 

 

 

 

Tedros
https://twitter.com/i/status/1553858888260325377

 

 

Biden ice cream
https://twitter.com/i/status/1554282827046440960

 

 

 

 

Kamala
https://twitter.com/i/status/1554216124845379588

 

 

 

 

“No other confirmation of the direct involvement of the United States in hostilities on the territory of Ukraine is required..”

The US made itself a target. And all NATO countries too.

• US Directly Involved In Ukraine Conflict – Moscow (RT)

Statements made by Vadim Skibitsky, a representative of the Main Directorate of Intelligence of the Ministry of Defence of Ukraine, confirm that the United States is directly involved in the ongoing conflict there, according to Russian Foreign Ministry spokeswoman Maria Zakharova. In an interview with the Telegraph published on Monday, Skibitsky refused to answer questions about whose satellites are used for strikes when talking about American HIMARS multiple launch rocket systems. He did acknowledge, however, that they consult with Washington before launching strikes and that Washington has veto power over decision-making.

“No other confirmation of the direct involvement of the United States in hostilities on the territory of Ukraine is required,” Zakharova said on Tuesday, because the US doesn’t just arm and train Ukrainian forces but essentially shoots the weapons themselves. Zakharova stressed that the US is directly involved and that its distance from the situation is irrelevant. “They are fully involved. Now Kiev representatives are talking about their military involvement not only through the supply of weapons, but through personnel management in the ranks of the Ukrainian Armed Forces, direct instructions and the choice of targets,”Zakharova added.

Speculation has been ongoing about Washington’s involvement in the conflict. For example, in April French journalist Georges Malbrunot went viral on social media after claiming to have seen first-hand that Americans are “in charge” of the Ukrainian war effort on the ground.However, he stressed that this was not an official involvement as it was American mercenaries that he met in Ukraine. Nevertheless, skeptics have questioned the veracity of promises by US officials to avoid direct involvement or so-called “boots on the ground.”

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“Advises”? They supply the weapons, the intelligence, and have a veto on “decision-making”. They might as well pull the trigger too. And for all we know they do.

• West Advises Ukraine On Strikes With Supplied Weapons – Top Intel Official (RT)

A senior Ukrainian military intelligence official has claimed his agency was getting advice from British and American counterparts on which targets to attack with Western-supplied weapons, like the HIMARS multiple-launch rocket systems. The Americans can ban any strike they don’t like, the general reportedly said. The revelation came on Monday in an interviewthat Major General Vadim Skibitsky gave to The Telegraph newspaper. When discussing Ukraine’s reported successes in destroying Russian military targets with weapons provided by the West, he claimed Ukrainian forces were using “real-time information” to direct fire. “I can’t tell you whether [we are directly tasking] British and American satellites, but we have very good satellite imagery,” the British newspaper cited him as saying.

The general did not claim that US officials were feeding targeting information directly to Ukraine, but said troops were getting feedback from Washington and London before launching rockets. This allows “Washington to stop any potential attacks if they were unhappy with the intended target,” The Telegraph said. US officials have frequently claimed that America does not have direct involvement in Russia’s hostilities with Ukraine, since it would put it at risk of escalating the conflict. Russia and its allies in Donetsk and Lugansk accused Ukraine of using the US-made launchers to strike non-military targets. In a recent incident a rocket attack hit a detention facility, where dozens of Ukrainian POWs were kept. Officials from the Donetsk People’s Republic showed images of what they described as fragments of HIMARS rockets used in the strike.

Over 50 of the prisoners were reported killed in what Russia alleged to be an assassination of potential witnesses and perpetrators of war crimes committed by the Ukrainian side. Kiev denied responsibility for the incident and accused Russia of hitting the prison camp in Elenovka. Ukrainian officials claimed the attack was meant to cover up either abuse of the POWs or the embezzlement of money.

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“..the best thing that awaits them if they are captured alive is a trial and maximum prison terms.”

• Russia Strikes Foreign Fighters’ Base In Ukraine (RT)

Over 200 foreign mercenaries have reportedly been killed in a missile strike in southern Ukraine, Russia’s Ministry of Defense reported on Tuesday. The statement also added that over 20 units of military equipment were also destroyed during the attack. In its daily briefing on Telegram, the ministry reported that Russian Aerospace Forces delivered a blow to a temporary deployment point of the Ukrainian ‘foreign legion’ near the city of Nikolaev, using high-precision weapons. As a result, up to 250 foreign mercenaries were eliminated, according to the report. Russia also claims to have neutralized up to 500 nationalist fighters in the Kharkov region via high-precision strikes, as well as “a significant amount” of military equipment.

Last week, Russia also claimed to have killed over 40 foreign mercenaries, most of whom were Polish citizens, after a missile strike on a temporary deployment point near Konstantinovka in the Donetsk People’s Republic (DPR). The week before that, the Russian military claimed it had killed up to 250 such soldiers in the same settlement. Kiev’s international military unit was created in late February at the request of Ukrainian President Vladimir Zelensky, and is officially known as the International Legion of Territorial Defense of Ukraine. In April, the Russian military estimated their numbers at almost 7,000.

However, an updated estimate provided by the Russian defense ministry earlier this month suggests that only about 2,700 of these soldiers remain in Ukraine. Many of them were eliminated while others fled abroad, some complaining about disorder in the ranks of the Ukrainian forces and about poor equipment. Moscow has repeatedly warned that it will not view foreign mercenaries in Ukraine as combatants as defined by the Geneva Convention and that “the best thing that awaits them if they are captured alive is a trial and maximum prison terms.”

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“..developed countries by contrast must take the lead on sharp cuts to their emission..”

• African Nations To Make Case For Big Rise In Fossil Fuel Output (G.)

Leaders of African countries are likely to use the next UN climate summit in November to push for massive new investment in fossil fuels in Africa, according to documents seen by the Guardian. New exploration for gas, and the exploitation of Africa’s vast reserves of oil, would make it close to impossible for the world to limit global heating to 1.5C above pre-industrial levels. However, soaring gas prices have made the prospect of African supplies even more attractive, and developed countries, including EU members, have indicated they would support such developments in the current gas shortage.

The Guardian has seen a technical document prepared by the African Union, comprising most of Africa’s states, for the “second extraordinary session of the specialised technical committee on transport, transcontinental and interregional infrastructure and energy committee”, a meeting of energy ministers that took place by video conference from 14 to 16 June. The five-page document, and accompanying 25-page explanation, indicates that many African countries favour a common position that would inform their negotiating stance at the Cop27 UN climate summit, scheduled for this November in Egypt, which would entail pushing for an expansion of fossil fuel production across the continent.

The document states: “In the short to medium term, fossil fuels, especially natural gas will have to play a crucial role in expanding modern energy access in addition to accelerating the uptake of renewables.”Member states of the African Union will meet again, in Addis Ababa, this week to confirm the stance to be taken. They are expected to argue that Africa must be allowed to benefit from its fossil fuel reserves, as rich countries already have done, and that developed countries by contrast must take the lead on sharp cuts to their emissions.

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Of its own choosing.

• EU Facing Winter Energy Crisis – Borrell (RT)

The EU may run out of gas during the upcoming winter season amid supply shortages, the bloc’s senior diplomat Josep Borrell has warned. “Europe is facing a perfect storm: energy prices are up, economic growth is down and winter is coming,” the EU’s high representative for foreign affairs and security policy wrote, in a blog published Monday on the website of the Diplomatic Service of the EU. There is “real uncertainty” over whether the EU will have enough gas and whether it will be able to afford it, Borrell said in the piece, titled “Europe’s energy balancing act,” describing the upcoming winter as “exceptional.” His comments come amid a reduced flow of natural gas from Russia, a major supplier to the bloc. Borrell warned that countries of the continent must prepare for a possible total cut-off by Moscow, and suggested that Europe has struggled to replace Russian supplies.


“The hard truth is that for this winter, we are approaching the limits of what extra gas we can buy from non-Russian sources. So, the bulk will have to come from energy savings, i.e. demand reduction.” he wrote. Last month the EU approved a plan that would see member states voluntarily reduce their gas consumption by 15%, to enable the bloc to accumulate the fuel ahead of winter. In case of an emergency, the voluntary reduction may become mandatory. According to Borrell, the bloc has managed to reduce the share of Russian gas in its imports from 40% at the beginning of the year to around 20% today, by buying more LNG and receiving gas via pipelines from Norway, Algeria and Azerbaijan. Russia has repeatedly said it remains a reliable supplier and honors its contractual obligations, but that international sanctions are preventing pipeline operator Gazprom from delivering gas to the EU at full capacity.

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Wood and brown coal. Take that, Putin!

• Netherlands Faces Winter Of Smog – Media (RT)

Smog and particulate pollution will rise in the Netherlands this winter, public health authorities have warned. The rise is linked to more households choosing to burn firewood as gas prices skyrocket. Sales of wood and pellet stoves have increased by 30% since last summer, De Volkskrantreported on Sunday. Demand is now so high, the newspaper reported, that manufacturers are struggling to deliver enough of these stoves. Firewood suppliers, meanwhile, are already running out of stock, and sourcing more logs is a difficult proposition, as the Dutch forestry agency refuses to supply trees to the firewood industry. With gas and electricity bills at record highs, the shift among some consumers to wood burning will have environmental consequences, the National Institute for Public Health (RIVM) warned.

“The sale of wood is linked to consumption and it is indeed expected that this will not have a positive impact on air pollution,” a spokesperson told De Volkskrant. While the institute is investigating what measures can be taken to reduce this pollution risk, its powers are limited at present. It can warn households against lighting fires on days when the smog risk is high, but cannot enforce a ban. Health experts called for a ban last month, telling parliament that such a measure would be necessary in winter when more fires would increase the chance of smog. However, there is currently no other viable heat source to replace either gas or solid fuel, although the RIVM is investigating heat pump technology, according to the newspaper.

The Netherlands is not the only European country where wood fires are making a comeback. Poland gave its citizens permission to hoard timber for burning last month, while Latvians have rushed for firewood collection permits and Hungary has ordered a halt to firewood exports. In the UK, the London Fire Brigade said in May that its officers had responded to 100 house fires in the preceding months, started by people burning wood in open fires to stay warm. While gas prices throughout Europe were steadily rising since the end of the coronavirus pandemic, the increase accelerated sharply since Russia launched its military operation in Ukraine in February. The EU has begun phasing out Russian fuel imports in response, while Russian gas giant Gazprom has said that sanctions are impeding its ability to deliver gas to the region.

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The sole voice of reason in the EU. Something has to give.

• EU Is Not Our Boss – Hungary (RT)

Hungarian Prime Minister Viktor Orban lashed out at the European Union on Monday evening in a Facebook post, reminding his followers that Brussels doesn’t dictate European affairs. “The European Union is not in Brussels. The European Union is in Vienna, Budapest and Warsaw, Berlin and Madrid,” the prime minister said. “Brussels is not our boss We are an independent, sovereign Hungarian nation. We make decisions together. If they’re not good for us, we’ll tell them. If they are not good and we can prevent them, the common decision will not be made.” Orban has made international headlines in recent weeks for his blunt statements criticizing the West’s policies. On July 28, the premier blasted NATO’s support for Kiev during a meeting in Vienna with Austrian Chancellor Karl Nehammer.


“The Hungarian assessment is that the concept of NATO supporting Ukraine with weapons and training officers, and the Ukrainians fighting against the Russians, is a construct that has now been shown not to result in a Ukrainian victory,” Orban said at a press conference. The prime minister has been a holdout amongst European leaders in jumping on board Brussels’ harsh sanctions campaign against Russia, particularly a total embargo of Russian natural gas. In his remarks criticizing NATO, Orban also made reference to the fact that sanctions on Moscow are causing serious economic hardship in the bloc. He said that a peaceful settlement needs to be reached in Ukraine because its absence it will spur economic recession in the EU that will be accompanied by political instabiliy.

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Or others would do the same.

• Canada’s Travel Ban Had No Scientific Basis (CS)

On August 13, 2021, the Canadian government announced that anyone who hadn’t been vaccinated against Covid would soon be barred from planes and trains. In many cases, The Backward could no longer travel between provinces or leave the country. If you lived in Winnipeg and wanted to visit your mother on her deathbed in London or Hong Kong or, perhaps, Quebec City, you’d better get jabbed—or resign yourself to never seeing your mother again. Jennifer Little, the director-general of COVID Recovery, the secretive government panel that crafted the mandate, called it “one of the strongest vaccination mandates for travelers in the world.” It was draconian and sweeping, and it fit neatly with the public persona that Prime Minister Justin Trudeau had cultivated—that of the sleek, progressive, forward-looking technocrat guided by fact and reason.

The Canadian Medical Association Journal, in a June 2022 article, observed that “Canada had among the most sustained stringent policies regarding restrictions on internal movement.” But recently released court documents—which capture the decision-making behind the travel mandate—indicate that, far from following the science, the prime minister and his Cabinet were focused on politics. (Canadians are hardly alone. As Common Sense recently reported, American public-health agencies have also been politicized.) Two days after announcing the mandate, Trudeau called a snap election—presumably expecting that his Liberal Party, which was in the minority in the House of Commons, would benefit from the announcement and be catapulted into the majority. As it turned out, the Liberals failed to win a majority in the September 2021 election.

In the meantime, roughly five million unvaccinated Canadians were barred from visiting loved ones, working or otherwise traveling. (Trudeau, for his part, stayed in power. Even though the Conservatives have won the popular vote in the past two elections, because of Canada’s parliamentary system, they have been denied the top job.) The court documents are part of a lawsuit filed by two Canadian residents against the government. Until last month, they were under seal. Both plaintiffs are business owners. Both have family in Britain. Both have refused the vaccine on the grounds of bodily autonomy. Both were reluctant to identify their businesses out of fear of losing customers

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“..we estimate that lockdowns may claim 20 times more life years than they save..”

• Are Lockdowns Effective in Managing Pandemics? (MDPI)

The present coronavirus crisis caused a major worldwide disruption which has not been experienced for decades. The lockdown-based crisis management was implemented by nearly all the countries, and studies confirming lockdown effectiveness can be found alongside the studies questioning it. In this work, we performed a narrative review of the works studying the above effectiveness, as well as the historic experience of previous pandemics and risk-benefit analysis based on the connection of health and wealth. Our aim was to learn lessons and analyze ways to improve the management of similar events in the future.


The comparative analysis of different countries showed that the assumption of lockdowns’ effectiveness cannot be supported by evidence—neither regarding the present COVID-19 pandemic, nor regarding the 1918–1920 Spanish Flu and other less-severe pandemics in the past. The price tag of lockdowns in terms of public health is high: by using the known connection between health and wealth, we estimate that lockdowns may claim 20 times more life years than they save. It is suggested therefore that a thorough cost-benefit analysis should be performed before imposing any lockdown for either COVID-19 or any future pandemic.

WHO Treaty Christine Anderson
https://twitter.com/i/status/1554364529236234240

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“Face masks. Yes, face masks for cows.”

• New Zealand Plans To Tax Farmers For Livestock Burps (TCS)

It seems like governments across the Western world are hellbent on destroying the lives of their farmers, and New Zealand is no different, with the government bringing in a “burp tax” for livestock. It’s become almost a meme to talk about the government taxing you for breathing in oxygen in the age of climate insanity and carbon taxes, but New Zealand is by far the closest to doing so. According to climate radicals in the country, cow and sheep burps are just too harmful to the environment due to the methane released, and they need to be reduced, and farmers need to be taxed into submission. “There is no question that we need to cut the amount of methane we are putting into the atmosphere, and an effective emissions pricing system for agriculture will play a key part in how we achieve that,” New Zealand Climate Change Minister James Shaw told BBC News.


Under the proposed legislation, the government would begin taxing livestock farmers for their gas emissions starting in 2025, with incentives and lower tax rates being offered to farmers that feed their livestock special anti-burp diets and plant more trees to offset their supposed emissions. According to WebMD, other strategies the government is recommending include “face masks for cows that trap and turn methane into water and carbon dioxide, a method that reduces emissions by more than 50% according to Zelp, the company that invented the contraption. Some farmers are already experimenting with feed made from seaweed. And scientists are tinkering with cow genetics to increase their digestive efficiency.” Face masks. Yes, face masks for cows.

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Daniel Hale.

• When The Just Go to Prison (Chris Hedges)

Hale, a 34-year-old former Air Force signals intelligence analyst, is serving a 45 month prison sentence, following his conviction under the Espionage Act for disclosing classified documents about the U.S. military’s drone assassination program and its high civilian death toll. The documents are believed to be the source material for “The Drone Papers” published by The Intercept, on October 15, 2015. These documents revealed that between January 2012 and February 2013, U.S. special operations drone airstrikes killed more than 200 people — of which only 35 were the intended targets. According to the documents, over one five-month period of the operation, nearly 90 percent of the people killed in airstrikes were not the intended targets. The civilian dead, usually innocent bystanders, were routinely classified as “enemies killed in action.”

The terrorizing and widespread killing of thousands, perhaps tens of thousands, of civilians was a potent recruiting tool for the Taliban and Iraqi insurgents. The aerial attacks created far more hostile fighters than they eliminated and enraged many in the Muslim world. Hale is composed, articulate and physically fit from his self-imposed regime of daily exercise. We discuss books he has recently read, including John Steinbeck’s novel East of Eden and Nicholson Baker’s Baseless: My Search for Secrets in the Ruins of the Freedom of Information Act, which explores whether the U.S. used biological weapons on China and Korea during World War II and the Korean War. Hale is currently housed in the Communications Management Unit (CMU), a special unit that severely restricts and heavily monitors communications, including our conversation, and visitations.

The decision by The Bureau of Prisons to lock Hale up in the most restrictive wing of a supermax prison ignores the recommendation of the sentencing Judge Liam O’Grady, who suggested that he be placed in a low-security prison hospital facility in Butner, North Carolina, where he could get treatment for his PTSD. Hale is one of a few dozen people of conscience who have sacrificed their careers and their freedom to inform the public about government crimes, fraud and lies. Rather than investigate the crimes that are exposed and hold those who carried them out to account, the two ruling parties wage war on all who speak out. These men and women of conscience are the lifeblood of journalism. Reporters cannot document abuses of power without them.

The silence on the part of the press over Hale’s imprisonment, as well as the persecution and imprisonment of other champions of an open society, such as Julian Assange, is stunningly shortsighted. If our most important public servants, those with the courage to inform the public, continue to be criminalized at this rate, we will cement in place total censorship, resulting in a world where the abuses and crimes of the powerful are shrouded in darkness. Barack Obama weaponized the Espionage Act to prosecute those who provided classified information to the press. The Obama White House, whose assault on civil liberties was worse than those of the Bush administration, used the 1917 Act, designed to prosecute spies, against eight people who leaked information to the media including Assange — although he is not a U.S. citizen, and WikiLeaks is not a U.S.-based publication — along with Edward Snowden, Thomas Drake, Chelsea Manning, Jeffrey Sterling and John Kiriakou, who spent two-and-a-half years in prison for exposing the routine torture of suspects held in black sites.

Also under The Espionage Act, Joshua Schulte, a former CIA software engineer, was convicted on July 13, 2022 of the so-called Vault 7 leak, published by WikiLeaks in 2017, which revealed how the CIA hacked Apple and Android smartphones and turned internet-connected televisions into listening devices. He faces up to 80 years in prison.

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I’d like to see that.

• Top Epidemiologist Predicts Insurers Will Go After Covid Vax Makers (JTN)

Yale University epidemiologist Harvey Risch is expecting insurers to seek financial compensation from COVID-19 vaccine makers to cover “early unexpected mortality claims,” as they “they have a major financial risk that they have to figure out how to manage.” Insurers’ actuaries estimated COVID vaccinees would “live longer than they have” based on misrepresentations about “all-cause mortality … from the original [clinical] trials,” Risch told the “Just the News, Not Noise” TV program. In a followup interview he pointed to statements by insurers that offer group life insurance. OneAmerica CEO Scott Davison told a healthcare conference in December that death rates had risen an “unheard of” 40% in the working-age people it insures compared to pre-pandemic rates, when a “one-in-200-year catastrophe” would only bring a 10% increase.


Most claims aren’t filed as COVID-related deaths, he said. Public records show that Lincoln National, a much larger insurer, reported a 163% increase in death benefits paid out in 2021, the first year of the COVID vaccines: $1.4 billion, compared to $500 million in pre-pandemic 2019 and $548 million in 2020. It largely blamed a $41 million operations loss in the first quarter of 2022 on “non-pandemic-related morbidity, including unusual claims adjustments, and less favorable returns within the company’s alternative investment portfolio.” Lincoln Financial Group Vice President of Corporate Communications Kelly DeAngelis told Just the News the 2020 statutory filings didn’t include Lincoln Life Assurance Company of Boston. The 2021 supplement includes results from both companies, which merged that year.

Pfizer attacks
https://twitter.com/i/status/1554122422537916416

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1982.

• An Honest Money Would Stop Inflation by Don Werkheiser (Greco)

This little vignette written by Don Werkheiser remains one of the best concise explanations of inflation I’ve ever seen. It was published in the spring 1982 edition of Green Revolution, the journal of the School of Living a non-profit organization with which I was associated throughout the 1980s and into the early 1990s.

A rural village has no money. All trade is by barter. A farmer comes to town and deposits 10 bushels of corn with a man who has a store room. This operator gives the farmer 10 receipts, each redeemable in a bushel of corn. But the farmer asks for receipts in smaller denominations. The storekeeper gives him 40 receipts for 40 pecks. The farmer trades ten of these corn-receipts for other products; they are each accepted at the value of a peck of corn. That acceptance constitutes the issue of corn notes as money. Such receipts are generalized credit instruments. They refer to stored corn, but not to any specific peck of corn. When the seller wants a peck of corn the receipt is redeemed. Otherwise it is spent again, and ownership of a peck of corn is conveyed to the next seller.

The next day the farmer returns to town and spends 10 corn notes (each of one peck of corn in value) for his wife’s birthday present. Now the farmer has doubled the money supply in circulation, but there is no inflation; there are redeemable goods back of them. What then is inflation? We must understand “money” and the storekeeper’s actions. The store room owner noticed that the corn notes were accepted in trade. So he made 40 more “peck-receipts” looking just like corn-receipts and then he spent them into circulation. That is inflation–counterfeit receipts passed as valid receipts. Assume that the counterfeit receipts were accepted at face value. In that case, the counterfeiter effected a robbery of commodities equal in value to 40 packs of corn, while those who accepted them received receipts which measured the extent to which they had been robbed.

So long as confidence lasts, the game would continue and receipts could be spent. New sellers would be holding empty receipts. The game would collapse when all the corn in the warehouse was redeemed, and holders of the 40 counterfeit receipts found no one who would take them in trade. Worse could happen if the counterfeiter had the skills of a politician. If, when confronted by angry holders of his counterfeit receipts he declared himself a benefactor of the community–and showed that the original issue by the farmer was too limited, and that his own issues stimulated industry and trade (he would not mention that the farmers issue was redeemable while his own was not). He noted that most people did not want corn; they wanted a medium of trade that they could use to speed up trade.

They were told: “If the game stopped then, the holders would be losers, but if they continued, they could all buy what they wanted. In fact if they elected him Mayor he would declare pseudo-corn-notes to be legal tender, and he’d also begin a program of public works. Soon everyone would be rich.” An ignorant public agreed. Elected Mayor, the counterfeiter issue another stock of corn-notes called “pecks” and declared them to be worth a peck of corn in the market (but not anywhere redeemable). On each note was a picture of a peck-basket, but what it contained was not specified. Just a peck of value.

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I am the change

 

 

 

 

???

 

 

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Debt Rattle December 29 2020

Dec 292020
 
 December 29, 2020  Posted by at 10:07 am Finance Tagged with: , , , , , , , , , , ,  28 Responses »


Juan Gris Portrait of the artist’s mother 1912

 

• WHO Chief Scientist: No Evidence COVID Vaccine Prevents Viral Transmission (ZH)
• WHO -Secretly- Changed Their Definition Of “Herd Immunity” (OffG)
• UK Variant Linked To High Viral Loads, Neanderthal Gene Offers Protection (R.)
• House Passes $2,000 Per American COVID19 Relief Bill Requested By Trump (RT)
• Republicans Threaten To Deny $2,000 Checks To Their Own Constituents (DP)
• House Overrides Trump’s Veto Of Bill That Blocked Afghanistan Withdrawal (RT)
• Bernie Sanders To Delay Defense Veto Override In Bid For $2,000 Checks (Pol.)
• McConnell Rushed To Save His Senators, But Left Trump Twisting In The Wind (IC)
• Japan Gave Key Intel On China’s Uighur Crackdown To US and Britain (JT)
• Trump Admin Bolsters Order Barring US Investment In Chinese Firms (R.)
• In Darkness Visible (Jim Kunstler)
• The Threat of Authoritarianism in the US is Very Real (Greenwald)

 

 

Entirely useless? Someone better do a risk/reward analysis.

• WHO Chief Scientist: No Evidence COVID Vaccine Prevents Viral Transmission (ZH)

Once again, the WHO has stepped in to offer some confusing comments about the coronavirus vaccine, warning that there is “no evidence to be confident shots prevent transmission” and that people who receive the vaccine should continue wearing masks and following all social distancing and travel guidelines. The comments were made by WHO chief scientist Soumya Swaminathan during what appears to have been a virtual press conference held Monday. A clip of the offending line has begun circulating on social media. “At the moment, I don’t believe we have the evidence on any of the vaccines, to be confident that it’s going to prevent people from getting the infection and passing it on,”

WHO chief scientist
https://twitter.com/i/status/1343620091695538179

Of course, a close look at the research released by Pfizer and Moderna shows the studies haven’t actually tested whether the vaccines actually prevent transmission of the virus; the goal of the trials was to see whether vaccinated patients presented with COVID symptoms at a rate that was substantially less frequent than individuals who hadn’t been vaccinated. That’s pretty much it. Though the data might hint at lowering transmission rates, that’s still tbd, apparently. The doctor went on to explain that there’s no evidence to suggest that those who have been vaccinated wouldn’t be a risk if they traveled to a foreign country, say Australia, with relatively low COVID rates.


At this point, it might be helpful for the WHO to produce some kind of clarification that either offers substantially more context to explain this remark. But we suspect they won’t. Why? Well, perhaps because that context might undermine certain government officials’ insistence that there’s absolutely no reason to question the efficacy, and potential side effects (both long-term, and short) tied to the new COVID-19 vaccines.

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“..newspeak doublethink nonsense..”

• WHO -Secretly- Changed Their Definition Of “Herd Immunity” (OffG)

The World Health Organization has changed the definition of “herd immunity” on the Covid section of their website, inserting the claim that it is a “concept used in vaccination”, and requires a vaccine to be achieved. Both of these statements are total falsehoods, which is demonstrated by the WHO’s own website back in June, and every dictionary definition of “herd immunity” you can find. To quote the WHO’s own original definition: “Herd immunity is the indirect protection from an infectious disease that happens when a population is immune either through vaccination or a natural immunity developed through previous infection.” This definition was posted on the WHO’s website on June 9th of this year, and conforms with the general usage of the term for generations.


Then, on October 15th, we woke up to find the words on the side of the barn had changed. The definition has been altered to this: “‘Herd immunity’, also known as ‘population immunity’, is a concept used for vaccination, in which a population can be protected from a certain virus if a threshold of vaccination is reached.” No explanation is offered for the change, in fact [no] note of the change is made on the website at all. Indeed all the previous versions of the website have been totally wiped from the wayback machine. A telling thing to do, in and of itself. We’re only aware of the change because screencaps of the original exist:

The new definition, aside from being inaccurate and off-handedly disposing of decades of epidemiological research, is also contradictory. It includes the phrase: “Herd immunity is achieved by protecting people from a virus, not by exposing them to it.” Which is newspeak doublethink nonsense. The entire point of vaccination IS “exposing” people to the virus. This revised, inaccurate and contradictory definition of “herd immunity” was first expressed in a speech by WHO Director General Thedros Adhanom on October 12th. Within three days that speech had been added, word for word, to the website. And within a month of the change, the UK had approved the first commercial vaccine for Sars-Cov-2 infection.

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Forget the vaccine, I’ll get the Neanderthal gene.

• UK Variant Linked To High Viral Loads, Neanderthal Gene Offers Protection (R.)

The highly infectious COVID-19 coronavirus variant that has been circulating in Britain is linked to higher loads of the virus in the blood, according to a research report published on medRxiv on Sunday ahead of peer review. Around 35% of patients infected by the variant form had very high levels of the virus in their samples, compared to 10% of patients without the variant, study leader Michael Kidd of Public Health England and Birmingham University told Reuters. Higher viral loads have been linked with worse COVID-19 outcomes. The tests were conducted at the Birmingham Turnkey Lab. Kidd said additional study was needed to confirm or refute the findings. If confirmed, he hopes scientists will investigate how this particular variant manages to make more copies of itself in infected patients.

[..] A specific form of a protein passed down from Neanderthals protects against severe COVID-19, and medications that boost levels of this protein could potentially help treat the disease, according to a study reported on medRxiv on Thursday ahead of peer review. The protein, called OAS1, is involved in the body’s response to viruses. People with higher levels of the Neanderthal-related form of OAS1 are less susceptible to COVID-19, and if they do become infected, they are at lower risk for hospitalization, intubation and death, the researchers found. “This protective form of OAS1 is present in sub-Saharan Africans but was lost when the ancestors of modern-day Europeans migrated out of Africa. It was then re-introduced into the European population through mating with Neanderthals” who lived more than 40,000 years ago, said coauthor Brent Richards from the Jewish General Hospital and McGill University in Montreal. An earlier study linked a cluster of genes inherited from Neanderthals to higher risks of hospitalization from COVID-19. “These findings further implicate Neanderthal ancestry in COVID-19 severity,” Richards said.

[..] The speed of patients’ antibody production – rather than the volume of antibodies they produce to fight the new coronavirus – determines whether they will survive COVID-19, new data suggest. Researchers who studied more than 200 COVID-19 patients, including 179 who were hospitalized, found those who produced so-called neutralizing antibodies within 14 days of developing symptoms eventually recovered, while those who did not produce neutralizing antibodies until more than 14 days had elapsed developed higher viral loads and more severe disease. “It is unclear why antibodies generated after this time point are unable to promote viral clearance and recovery in COVID-19 patients,” the researchers said in a report posted on medRxiv ahead of peer review. Study leader Akiko Iwasaki of the Yale University School of Medicine tweeted on Saturday, “It’s possible that virus somehow becomes resistant by hiding in inaccessible tissues.” The new findings, she added, suggest therapy with so-called monoclonal antibody drugs – such as those from Regeneron given to U.S. President Donald Trump — is likely to work only if used soon after infection.

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Caring for Americans with Supplemental Help (CASH) Act.

• House Passes $2,000 Per American COVID19 Relief Bill Requested By Trump (RT)

The US House of Representatives has voted to raise to $2,000 the sum of the one-time direct payment to most Americans, after President Donald Trump demanded it be raised from $600 in the spending bill he signed to avoid shutdown. Dubbed the Caring for Americans with Supplemental Help (CASH) Act, House Resolution 9051 passed on Monday evening, as lawmakers lined up to cast their own and proxy votes, wearing face masks under rules instituted by Speaker Nancy Pelosi (D-California). The procedural vote requiring two-thirds majority succeeded, with 275 votes in favor. The proposal was opposed by 130 Republicans, two Democrats and two 2 independents.


The resolution now goes to the Senate for approval. Trump initially threatened to veto the nearly 6,000-page omnibus-stimulus behemoth, objecting to the $600 amount and other spending measures. On Sunday, he turned around and signed it, but demanded that the House pass a bill increasing the payout to $2,000 per individual and delete some of the other spending provisions, while asking for several other actions from the Senate as well. Democrats have refused to cut any spending, however, and the Republican-led Senate is unlikely to follow through on Trump’s demands.

Read more …

“an estimated 42 percent of Kentucky children (live) in renter households (that) were behind on rent and/or did not get enough to eat, and 20 percent of adults with children in the household reported the children weren’t eating enough because they couldn’t afford enough food.”

• Republicans Threaten To Deny $2,000 Checks To Their Own Constituents (DP)

Last week, House Democrats attempted to call President Donald Trump’s bluff and increase the COVID relief bill’s survival checks to $2,000. House Republicans blocked the initial maneuver, and may today prevent the legislation from passing. If it does pass, Republican Senate Majority Leader Mitch McConnell could kill the bill. The spectacle of Congress continuing to stall $2,000 survival checks during an economic emergency spotlights Donald Trump’s erratic behavior, Democrats’ persistent austerity ideology and the dysfunctionality of a government waiting until the last minute to hammer out 5,000-page emergency legislation in a matter of hours.

Most important, the antics of House Republicans and McConnell illustrate how — despite all of America’s paens to democracy — lawmakers ostensibly elected to represent us will routinely stomp on their own constituents. Of course, constituents are barely part of the media narrative anymore. Indeed, if you read national news, you will almost never see a mention of whom exactly these Republicans are supposed to be representing. For example, you will not see any mention of the fact that, according to research from AFL-CIO political director Michael Podhorzer, the majority of lawmakers in the House Republican Conference come from districts in the bottom two income quintiles — meaning their constituents would particularly benefit from the $2,000 checks.

Similarly, you will see McConnell depicted only as an all-powerful Republican leader — an omniscient spectre haunting the halls of power, effectively disassociated from time, place and constituency. In this mythology, he is a phantom menace who controls everything but somehow represents nobody. You will not see much mention of the fact that McConnell actually does represent a real, live place — one that illustrates how this standoff is fundamentally a crisis of democratic accountability. McConnell’s role in this debacle cannot be overstated: Had he already signed onto the plan to increase the direct payments in the COVID deal, it would probably be a done deal — but so far he has been reticent, as millions of Americans are struggling to survive.

Among those millions struggling to survive are hundreds of thousands of people in McConnell’s own state of Kentucky — which is one of the poorest in the country. As such, it would particularly benefit from the $2,000 survival checks. As McConnell plays coy in Washington, his state is becoming a Dickensian nightmare. More than 700,000 Kentuckians live below the federal poverty line. During the COVID-19 pandemic, things have become downright dystopian: Louisville’s ABC affiliate recently reported that “an estimated 42 percent of Kentucky children (live) in renter households (that) were behind on rent and/or did not get enough to eat, and 20 percent of adults with children in the household reported the children weren’t eating enough because they couldn’t afford enough food.”

Read more …

Bring them home.

• House Overrides Trump’s Veto Of Bill That Blocked Afghanistan Withdrawal (RT)

The US House of Representatives has voted for the first time to override President Donald Trump’s veto of a $740 billion annual military spending bill, which he opposed for limiting his ability to bring US troops home. After aligning with Trump to approve raising the coronavirus stimulus payments to $2,000 per American, the House also voted 322- 87 to override Trump’s veto of the National Defense Authorization Act (NDAA), a $740 billion military spending bill, which passed both chambers of Congress earlier this month.


Trump objected to the NDAA not addressing his concerns about Section 230 and internet platforms, trying to prevent him from withdrawing troops from Afghanistan and Iraq, and including a Democrat proposal to rename US military bases named a century ago after Civil War generals who fought for the Confederacy. If the Senate does the same, that would make it the first – and likely the last – veto override of Trump’s administration, as Democrats are joined by a faction of Republicans all too eager to abandon the president. Amid media reports that Senate Majority Leader Mitch McConnell (R-Kentucky) planned to hold a vote only on the NDAA override and not the increased payments, Senator Bernie Sanders (I-Vermont) vowed to hold up the vote and block the Senate from going into recess over the New Year holiday.

Read more …

How things are connected.

• Bernie Sanders To Delay Defense Veto Override In Bid For $2,000 Checks (Pol.)

Sen. Bernie Sanders will filibuster an override of President Donald Trump’s defense bill veto unless the Senate holds a vote on providing $2,000 direct payments to Americans. “McConnell and the Senate want to expedite the override vote and I understand that. But I’m not going to allow that to happen unless there is a vote, no matter how long that takes, on the $2,000 direct payment,” Sanders said in an interview on Monday night. The Vermont independent can’t ultimately stop the veto override vote, but he can delay it until New Year’s Day and make things more difficult for the GOP. The House passed the payment boost sought by Trump and Democratic leaders on Monday evening, and Trump said the Senate has agreed to “start the process” on a stimulus checks vote when he signed the $900 billion relief bill.

Senate Majority Leader Mitch McConnell has yet to address the timing of such a vote. Under Senate rules, Sanders has the ability to keep the chamber in during the holiday week and likely mess with the campaign schedules of Sens. David Perdue (R-Ga.) and Kelly Loeffler (R-Ga.). Those two face Jan. 5 runoff races for control of the Senate against Democrats Jon Ossoff and Raphael Warnock, who are both campaigning on the $2,000 checks. A source close to Sanders said the Senate races were a factor in his decision — part of a bid to keep Perdue and Loeffler in D.C. and focus the campaign on their position regarding the $2,000 checks. Sanders also threatened to shut down the government earlier this month if the coronavirus relief bill did not include direct payments; ultimately it included checks of up to $600 and the government stayed open, though now Trump wants to go much higher.

Though veto overrides can be filibustered, as Sanders plans to do, it is a rare procedural move because the veto override already requires 67 votes and the filibuster is simply a delay tactic, according to the Congressional Research Service. Sanders said he hopes McConnell allows a vote on the checks on Wednesday. “The American people are desperate, and the Senate has got to do its job before leaving town,” Sanders said. “It would be unconscionable, especially after the House did the right thing, for the Senate to simply leave Washington without voting on this.”

Read more …

“McConnell had the option to press the button, and he knew the button would help Trump, yet he didn’t press it.”

• McConnell Rushed To Save His Senators, But Left Trump Twisting In The Wind (IC)

One of the enduring mysteries of the 2020 presidential election was Mitch McConnell’s apparent lack of interest in helping to reelect President Donald Trump. From the perspective of the White House, the political press corps, Democrats, and effectively everybody watching the race, there was one major thing they thought would go a long way to delivering four more years for Trump, and that was a major round of stimulus in the weeks before the election, complete with checks destined for voters. Given that a swing of fewer than 100,000 votes in the right states would have flipped the election to Trump, it’s fair to say that such a stimulus could indeed have turned the tide for Trump. Yet McConnell stood in the way. We now know with certainty that the Senate majority leader is well aware of the political value of stimulus checks.

“Kelly and David are getting hammered,” McConnell told his Republican flock, explaining why the party would be agreeing not just to a historic-sized piece of legislation, but also to one that included $600 checks for everybody with under a certain income. “Kelly,” of course, is Kelly Loeffler, the wife of the owner of the New York Stock Exchange, appointed to the Senate to replace the retiring Johnny Isaacson, and “David” is David Perdue, the former CEO of Dollar General. Both Loeffler and Perdue are facing runoffs in January, and both have used their perch in the Senate to acquire financial information they used to profit on stock trades. But that’s not why they’re getting hammered. They’re getting hammered over checks. Democrats Jon Ossoff and Raphael Warnock have been blasting away for weeks at Perdue and Loeffler for blocking another round of stimulus, and in particular for blocking checks.

And so McConnell bent to political reality, doing what he didn’t want to do in order to keep control of the Senate. But if it was a price he was willing to pay for Kelly and David and control of the Senate, why wouldn’t he pay the same price to keep control of the White House? The option was available to him. Even if Democratic leaders would have preferred to pass the stimulus after the election, their obstruction beforehand would either have been politically untenable or, if held firm, politically suicidal. So McConnell had the option to press the button, and he knew the button would help Trump, yet he didn’t press it. The only reasonable conclusion that can be drawn is that McConnell did not want to help Trump win.

Read more …

Six Eyes?!

• Japan Gave Key Intel On China’s Uighur Crackdown To US and Britain (JT)

Japan provided intelligence to the United States and Britain last year showing evidence of China’s forceful detainment of Muslim Uighur minority on condition of keeping the source confidential, a person close to Japan-U.S. relations said Monday. Based on the information, the United States stepped up criticism against China’s alleged crackdown on Uighurs in the Xinjiang autonomous region, the source said. The move shows Japan has already been sharing key intelligence with partners behind the scenes amid calls within the government to join the “Five Eyes” intelligence-sharing alliance to better respond to increasing threats by North Korea and China. The intelligence-sharing network involves Australia, Britain, Canada, New Zealand and the United States.


Britain joined the United States in pressing Beijing over its crackdown on Uighurs, but Japan has only said it “is closely watching the situation with concern.” Japan seeks to maintain friendly ties with China — its largest trading partner — without hurting relations with its top security ally, the United States. Given that Tokyo’s relations with Beijing had been improving, it was preparing for Chinese President Xi Jinping’s first visit as a state guest in spring 2020, although the planned visit was later postponed after the outbreak of the global coronavirus pandemic.

Read more …

Interesting to see how this changes after Jan. 20.

• Trump Admin Bolsters Order Barring US Investment In Chinese Firms (R.)

The Trump administration on Monday strengthened an executive order barring U.S. investors from buying securities of alleged Chinese military-controlled companies, following disagreement among U.S. agencies about how tough to make the directive. The Treasury Department published guidance clarifying that the executive order, released in November, would apply to investors in exchange-traded funds and index funds as well as subsidiaries of Chinese companies designated as owned or controlled by the Chinese military. The “frequently asked questions” release, posted on the Treasury website on Monday, came after Reuters and other news outlets reported that a debate was raging within the Trump administration over the guidance.


The State Department and the Department of Defense had pushed back against a bid by Treasury Department to water down the executive order, a source said. Secretary of State Mike Pompeo said Monday that the announcement “ensures U.S. capital does not contribute to the development and modernization of the People’s Republic of China’s (PRC) military, intelligence, and security services.” “This should allay concerns that U.S. investors might unknowingly support (Chinese military-controlled companies) via direct, indirect, or other passive investments,” he added. Specifically, some media outlets reported that Treasury was seeking to exclude Chinese companies’ subsidiaries from the scope of the White House directive, which bars new purchases of securities of 35 Chinese companies that Washington alleges are backed by the Chinese military, starting in November 2021.

Read more …

“They can hear the tinkle of their lucrative perquisites shattering in the creases of their temporal lobes.”

• In Darkness Visible (Jim Kunstler)

The signals from the political establishment to Donald Trump ring pretty clear now: get thee hence, thou big-bottomed orange menace to order and sanctity! Has ever a president been lonelier at 1600 Pennsylvania Ave? Lincoln’s “team of rivals” in the drear winter months of 1864 seem downright chummy in retrospect and, of course, poor Richard Nixon stayed swozzled on scotch whiskey during the darkest nights of Watergate, when he reputedly wandered the West Wing halls conversing with portraits of his predecessors. The other power centers of America, especially the news media, insist that there is no evidence of fraud in the recent election and it’s time to get on with the hallowed ceremonies of transition.

The post-Christmas suspense is killing them. Mr. Trump will not be moved to declare that he lost the election — probably for the excellent reason that he really didn’t, if there had been anything like an honest tally of the ballots. They hear murmurings of martial law and the Insurrection Act, and it all sounds to them like an imperial Nightmare on Elm Street. They can hear the tinkle of their lucrative perquisites shattering in the creases of their temporal lobes. It’s said in the alt.media that the president wishes to exhaust all the formal alternatives before possibly moving onto the novelty steps of contesting this final act of the four-year coup against him, which brings us all the way to January 6, when the electoral college slates are toted up in the House chamber, Vice President Pence presiding. One popular fantasy has the Veep tossing out “certified” votes from states where irregularities were starkest in favor of alt.slates submitted by Republican-majority state legislatures — with Hieronymus Bosch-style Antifa chaos to follow all over the land.

Sounds like a low percentage deal to me, but then… what’s actually at stake here? Not to be too melodramatic, but something kind of like a Manchurian Candidate situation. How okay is it, actually, for Joe Biden, with a record of accepting large sums of money from China’s intel apparatus, to move into the Oval Office, especially after they laid the Covid-19 trip on the world? No problemo, the DNC and its vast network of apparatchiks answer. There’s no evidence of Ol’ Joe colluding for pay!

Read more …

“… and Has Nothing To Do With Trump”

• The Threat of Authoritarianism in the US is Very Real (Greenwald)

The lockdowns from the pandemic have ushered in a collapse of small businesses across the U.S. that has only further fortified the power of corporate giants. “Billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes,” reported The Guardian in September. A study from July told part of the story: The combined wealth of the world’s super-rich reached a new peak during the coronavirus pandemic, according to a study published by the consulting firm PwC and the Swiss bank UBC on Wednesday. The more than 2,000 billionaires around the world managed to amass fortunes totalling around $10.2 trillion (€8.69 trillion) by July, surpassing the previous record of $8.9 trillion reached in 2017.

Meanwhile, though exact numbers are unknown, “roughly one in five small businesses have closed,” AP notes, adding: “restaurants, bars, beauty shops and other retailers that involve face-to-face contact have been hardest hit at a time when Americans are trying to keep distance from one another.” Employees are now almost completely at the mercy of a handful of corporate giants which are thriving, far more trans-national than with any allegiance to the U.S. A Brookings Institution study this week — entitled “Amazon and Walmart have raked in billions in additional profits during the pandemic, and shared almost none of it with their workers” — found that “the COVID-19 pandemic has generated record profits for America’s biggest companies, as well as immense wealth for their founders and largest shareholders—but next to nothing for workers.”

These COVID “winners” are not the Randian victors in free market capitalism. Quite the contrary, they are the recipients of enormous amounts of largesse from the U.S. Government, which they control through armies of lobbyists and donations and which therefore constantly intervenes in the market for their benefit. This is not free market capitalism rewarding innovative titans, but rather crony capitalism that is abusing the power of the state to crush small competitors, lavish corporate giants with ever more wealth and power, and turn millions of Americans into vassals whose best case scenario is working multiple jobs at low hourly wages with no benefits, few rights, and even fewer options.

[..] What makes this most menacing of all is that the primary beneficiaries of these rapid changes are Silicon Valley giants, at least three of which — Facebook, Google, and Amazon — are now classic monopolies. That the wealth of their primary owners and executives — Mark Zuckerberg, Jeff Bezos, Sundar Pichai — has skyrocketed during the pandemic is well-covered, but far more significant is the unprecedented power these companies exert over the dissemination of information and conduct of political debates, to say nothing of the immense data they possess about our lives by virtue of online surveillance.

Read more …

 

 

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Debt Rattle February 18 2019

Feb 182019
 
 February 18, 2019  Posted by at 10:25 am Finance Tagged with: , , , , , , , , , , , , , ,  7 Responses »


Pablo Picasso Face female study 1925

 

• Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)
• Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)
• Trump To Veto Disapproval Of Emergency (AP)
• Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)
• New Zealand To Target Online Giants With Digital Tax (R.)
• Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)
• UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)
• Australia Claims Foreign Government Hacked Major Political Parties (R.)
• Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)
• Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)
• Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)
• Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)
• UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)
• Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

 

 

How state propaganda works (and is disseminated by sympathetic media).

“The scene was a vicious verbal interlude..” “The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. “The yellow vest movement [..] is now marked by growing divisions within its ranks.”

In reality, the French see young people with their eyes missing due to Macron-ordered rubber bullets. The only support that’s eroding is that for Macron.

• Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)

Paris judicial authorities opened an investigation Sunday into anti-Semitic remarks hurled at a noted philosopher during a yellow vest protest, an incident that raised national concerns about the movement’s ascendant radical fringe. The Paris prosecutor’s office said the investigation was being conducted into “public insult based on origin, ethnicity, nationality, race or religion.” A band of men taunted philosopher Alain Finkielkraut on the sidelines of a protest through the French capital Paris on Saturday. “Go back to Tel Aviv,” ”Zionist,” and “France is our land” were among the insults captured on video. Finkielkraut, a member of the prestigious Academie Francaise, told French television station LCI on Sunday he doesn’t intend to file a complaint.

The scene was a vicious verbal interlude as thousands of protesters made their way through the Left Bank for the 14th Saturday in a row of demonstrations by the yellow vest movement. Several thousand protesters gathered again in Paris on Sunday to mark the three-month anniversary of the yellow vest movement’s protests, which started Nov. 17 with nationwide protests of fuel tax increases. [..] The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. The yellow vest movement [..] is now marked by growing divisions within its ranks. One yellow vest protester who has tried to put together a candidates list for the European Parliament election was heckled Sunday by detractors.

Read more …

Government officials vs a newly elected president. Must be a first. Patriots vs voters.

• Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)

Two Trump Cabinet officials were “ready to support” a DOJ scheme to invoke the 25th Amendment to remove President Trump, according to Bloomberg and Fox News, citing closed-door testimony from the FBI’s former top lawyer, James Baker – who said that the claim came from Deputy Attorney General Rod Rosenstein. “The testimony was delivered last fall to the House Oversight and Judiciary Committees. Fox News has confirmed portions of the transcript. It provides additional insight into discussions that have returned to the spotlight in Washington as fired FBI Deputy Director Andrew McCabe revisits the matter during interviews promoting his forthcoming book.” -Fox News

While Baker did not identify the two Cabinet officials, he says that McCabe and former FBI lawyer Lisa Page approached him to relay their conversations with Rosenstein, including their discussions of the 25th Amendment scheme. “I was being told by some combination of Andy McCabe and Lisa Page, that, in a conversation with the Deputy Attorney General, he had stated that he – this was what was related to me – that he had at least two members of the president’s Cabinet who were ready to support, I guess you would call it, an action under the 25th Amendment,” Baker told the Congressional committees. The 25th Amendment allows for the removal of a sitting president from office through various mechanisms – including the majority of a president’s Cabinet agreeing that the commander-in-chief is incapable of performing his duties.

Rosenstein – who is slated to leave the Justice Department in the near future, has denied the claims. Baker said McCabe was cool, calm and collected throughout the discussions, telling lawmakers: “At this point in time, Andy was unbelievably focused and unbelievably confident and squared away. I don’t know how to describe it other than I was extremely proud to be around him at that point in time because I thought he was doing an excellent job at maintaining focus and dealing with a very uncertain and difficult situation. So I think he was in a good state of mind at this point in time.” McCabe, meanwhile told “60 Minutes” in an interview set to air Sunday night that Rosenstein was concerned about Trump’s “capacity.”

According to McCabe, Rosenstein “raised the issue and discussed it with me in the context of thinking about how many other cabinet officials might support such an effort,” adding that Rosenstein was “definitely very concerned about the president, about his capacity and about his intent at that point in time.” “Rosenstein was actually openly talking about whether there was a majority of the cabinet who would vote to remove the president?” asks CBS News anchor Scott Pelly, to which McCabe replied: “That’s correct. Counting votes or possible votes.”

Read more …

Inevitable, so let’s have it.

“..there do not yet appear to be enough votes to override a veto by the president.”

• Trump To Veto Disapproval Of Emergency (AP)

President Donald Trump is prepared to issue the first veto of his term if Congress votes to disapprove his declaration of a national emergency along the U.S.-Mexico border, a top White House adviser said on Sunday. White House senior adviser Stephen Miller told “Fox News Sunday” that “the president is going to protect his national emergency declaration.” Asked if that meant Trump was ready to veto a resolution of disapproval, Miller added, “He’s going to protect his national emergency declaration, guaranteed.” The West Wing is digging in for fights on multiple fronts as the president’s effort to go around Congress to fund his long-promised border wall faces bipartisan criticism and multiple legal challenges.

After lawmakers in both parties blocked his requests for billions of dollars to fulfill his signature campaign pledge, Trump’s declared national emergency Friday shifts billions of federal dollars earmarked for military construction to the border. California Attorney General Xavier Becerra told ABC’s “This Week” that his state would sue “imminently” to block the order, after the American Civil Liberties Union and the nonprofit watchdog group Public Citizen announced Friday they were taking legal action. Democrats are planning to introduce a resolution disapproving of the declaration once Congress returns to session and it is likely to pass both chambers. Several Republican senators are already indicating they would vote against Trump — though there do not yet appear to be enough votes to override a veto by the president.

Read more …

“The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.”

• Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)

Senior Tories were accused of “sniping” at the huge numbers of campaigners set to take part in a march for a fresh Brexit referendum, a day after it was announced. A Brexit minister, Martin Callanan, came under fire after he branded next month’s Put It To The People march – part of The Independent’s Final Say campaign – “desperate stuff”. James Cleverly, a Conservative vice-chairman, tweeted sarcastically: “The only thing that might make me change my mind is a bloke in a blue hat with yellow stars shouting ‘Stop Brexit’. Yep, that might do it.” The reaction came despite last October’s demonstration attracting up to 700,000 people in London alone – and fuelling support for a new referendum at Westminster.

Anna Turley, a Labour supporter of the People’s Vote campaign, said the two men were “sniping at the huge numbers of people in this country who want to make their voice heard”. “Ministers should listen to the calls of those who feel betrayed by broken Brexit promises, worried about the damage caused by either this deal or no deal, as well as those who just want clarity and closure about our country’s direction – rather than years more of argument and division,” she said. The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.

Read more …

Meaningless without including other taxes, income, wealth, tec.

• New Zealand To Target Online Giants With Digital Tax (R.)

New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook and Amazon, extending a global effort to bring global tech giants into the tax net. Prime Minister Jacinda Ardern said the cabinet had agreed to issue a discussion document about how to update the country’s tax framework to ensure multinational companies pay their fair share. “Our current tax system is not fair in the way it treats individual tax payers, and how it treats multinationals,” Ardern told reporters at her weekly post-cabinet news conference.

Highly digitalized companies, such as those offering social media networks, trading platforms, and online advertising, currently earn a significant income from New Zealand consumers without being liable for income tax, the government said in a statement released after the announcement. The value of cross-border digital services in New Zealand is estimated to be around NZ$2.7 billion ($1.86 billion). The revenue estimate for a digital services tax is between NZ$30 million and NZ$80 million, Finance Minister Grant Robertson said in the statement. Digital services taxes (DST) are generally charged at a flat rate of two to three percent on the gross revenue earned by a multinational company in that country. A number of countries including the U.K, Spain, Italy, France, Austria and India have enacted or announced plans for a DST. The EU and Australia are also consulting on a DST.

Read more …

Anything here that money won’t buy?

• Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)

Facebook deliberately broke privacy and competition law and should urgently be subject to statutory regulation, according to a devastating parliamentary report denouncing the company and its executives as “digital gangsters”. The final report of the Digital, Culture, Media and Sport select committee’s 18-month investigation into disinformation and fake news accused Facebook of purposefully obstructing its inquiry and failing to tackle attempts by Russia to manipulate elections. “Democracy is at risk from the malicious and relentless targeting of citizens with disinformation and personalised ‘dark adverts’ from unidentifiable sources, delivered through the major social media platforms we use every day,” warned the committee’s chairman, Damian Collins.

The report:
• Accuses Mark Zuckerberg, Facebook’s co-founder and chief executive, of contempt for parliament in refusing three separate demands for him to give evidence, instead sending junior employees unable to answer the committee’s questions.
• Warns British electoral law is unfit for purpose and vulnerable to interference by hostile foreign actors, including agents of the Russian government attempting to discredit democracy.
• Calls on the British government to establish an independent investigation into “foreign influence, disinformation, funding, voter manipulation and the sharing of data” in the 2014 Scottish independence referendum, the 2016 EU referendum and the 2017 general election.

The committee argues that, had Facebook abided by the terms of an agreement struck with US regulators in 2011 to limit developers’ access to user data, the scandal would not have occurred. “The Cambridge Analytica scandal was facilitated by Facebook’s policies,” it concludes. The 108-page report makes excoriating reading for the social media giant, which is accused of continuing to prioritise shareholders’ profits over users’ privacy rights. “Facebook continues to choose profit over data security, taking risks in order to prioritise their aim of making money from user data,” the report states, accusing the company of covering up leaks of user data. “It seems clear to us that Facebook acts only when serious breaches become public.”

Zuckerberg is also personally criticised by the committee in scathing terms, with his claim that Facebook has never sold user data dismissed by the report as “simply untrue”. “Mark Zuckerberg continually fails to show the levels of leadership and personal responsibility that should be expected from someone who sits at the top of one of the world’s biggest companies,” Collins added in a statement. Watson agreed. “Few individuals have shown contempt for our parliamentary democracy in the way Mark Zuckerberg has,” he said. “If one thing is uniting politicians of all colours during this difficult time for our country, it is our determination to bring him and his company into line.”

Read more …

I know you thought this was about the CIA. But no, it’s Russia again.

• UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)

Theresa May must launch an independent investigation into “foreign influence and voter manipulation” in the Brexit vote, a committee of MPs says today, amid growing evidence of lawbreaking by Leave campaigners. A highly critical report – which warns “democracy is at risk” from rogue practices on social media – turns its fire on the prime minister for the failure to probe their effect on the referendum result. No wide-ranging investigation has taken place, despite the main Vote Leave campaign, fronted by Boris Johnson and Michael Gove, being found by the Electoral Commission to have broken the law. The National Crime Agency, meanwhile, has launched a separate investigation into evidence of “multiple” criminal offences committed by Arron Banks and the Leave.EU campaign.

But Downing Street has fought off calls for a “Mueller-style” inquiry, on the scale of the US probe into alleged collusion with Russia by Donald Trump’s presidential campaign. Now the Digital, Culture, Media and Sport Committee has insisted an inquiry must be carried out, also looking into the 2017 general election and the 2014 Scottish referendum. It would establish “what actually happened with regard to foreign influence, disinformation, funding, voter manipulation, and the sharing of data, so that appropriate changes to the law can be made and lessons can be learnt for future elections and referenda”. Damian Collins, the committee’s Conservative chair, urged the prime minister to come clean about whether “Russian interference in UK politics” was being probed.

“We want to find out what was the impact of disinformation and voter manipulation on past elections including the UK referendum in 2016, and are calling on the government to launch an independent investigation,” he said. [..] The crisis emerged after the Brexit referendum, leading to the finding against Vote Leave which has been referred to the police for busting spending limits Crucially, the cash was used to pay data firm Aggregate IQ and – a whistleblower and an Oxford professor argue – potentially enabled it to precisely target enough voters on social media to have swayed the Brexit result. Mr Banks, Nigel Farage’s ally, could receive a two-year prison sentence if he is found to have “knowingly concealed” that an Isle of Man company handed up to £8m to Leave.EU – which would have been outlawed as a foreign donation.

Read more …

Saw that headline and though: elections must be coming up. And yes.

• Australia Claims Foreign Government Hacked Major Political Parties (R.)

A cyber attack on Australian lawmakers that breached the networks of major political parties was probably carried out by a foreign government, Prime Minister Scott Morrison said on Monday, but did not name any suspects. As Australia heads for an election due by May, lawmakers were told this month told to urgently change their passwords after the cyber intelligence agency detected an attack on the national parliament’s computer network. The hackers breached the networks of major political parties, Morrison said, as he issued an initial assessment by investigators. “Our cyber experts believe that a sophisticated state actor is responsible for this malicious activity,” he told parliament.

“We also became aware that the networks of some political parties, Liberal, Labor and Nationals have also been affected.” Morrison did not reveal what information was accessed, but he said there was no evidence of election interference. Investors are still securing local networks, said Alastair MacGibbon, head of the Australian Cyber Security Centre, the government department responsible for online security. “Our political institutions represent high-value targets,” MacGibbon told reporters in the capital, Canberra.

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Problem is he doesn’t stand a chance of winning anything.

• Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)

The enfant terrible of euro-economics and former Greek Finance Minister Yanis Varoufakis reloaded his gun and shot: Profits from the European Central Bank should be used for a European Poverty Fund. Speaking at an event of his party DiEM25 in Thessaloniki, he said about the “New Deal in Europe and the World”, that Europe is currently facing four crises: public-private debt, very low investment, banking system and rising poverty. Especially about poverty, Varoufakis, revealed that last year the European Central Bank had profits of €91 billion, which are distributed to the finance ministries of countries with surplus. “A Fund to Combat Poverty could be founded tomorrow morning, in order to support the poor European family and this would be an integrative move and the fight against intolerance and anti-Europeanism and fascism.”

Addressing his Greek audience, he said “in DieM25/MeRA25 we are deeply European, we are criticizing the euro, we want to upgrade it, we are the only ones that have proposals to change the architecture of the euro. We want to restructure the euro. We do not propose exit from the euro, we are not threatening to exit the euro. This is a fact. He criticized the economic policies of his former SYRIZA comrades saying ‘“It is impossible at this time to have any recovery in Greece when small and medium-size businesses pay 75% of their profits to the state. You can not have a 100% pre-payment of the tax. You do that in a country when it is to destroy it.” [..] “Every eurozone country should have a parallel payment system,” he underlined.

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Well, they did vote to recognize Guiado as head of state.

• Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)

Venezuela denied a group of European Parliament deputies entry into the country on Sunday, arguing they had “conspiratorial motives” for flying to Caracas in the throes of a political crisis. The European Parliament last month joined a slew of Western nations in recognizing Venezuelan opposition chief Juan Guaido as interim head of state after President Nicolas Maduro won a second term in an election last year that critics denounced as a sham. The four deputies from the center-right European People’s Party (EPP) were traveling to Venezuela to meet with Guaido, one of them said in a video distributed via social media.

“They have retained our passports, they haven’t communicated the reason for our expulsion,” Esteban González Pons said. Venezuelan Foreign Minister Jorge Arreaza said on his Twitter account that the lawmakers had been advised several days ago they would not be allowed entry into the South American country. Venezuela would “not permit the European extreme right to disturb the peace and stability of the country with another of its rude, interventionist actions,” he wrote.

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Wonder how much money Monsanto has paid into the report.

..new biotech production techniques not only help preserve crops but also make them more nutritious.

..opportunities for British food and farming to increase productivity ..

• Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)

It is 2040 and Britain’s green and pleasant countryside is populated by robots. We have vertical farms of leafy salads, fruit and vegetables, and livestock is protected by virtual fencing. Changing diets have seen a decline in meat consumption while new biotech production techniques not only help preserve crops but also make them more nutritious. This is the picture painted in a report from the National Farmers Union which attempts to sketch out what British food and farming will look like in 20 years’ time. “The Future of Food 2040 report is a catalyst to encourage us all to start the debate about our food and our future so we can plan ahead,” said Andrea Graham, NFU’s head of policy services and author of the report, who interviewed 50 experts across Britain’s food chain to gauge their views.

“It is also a reminder for government, at a critical time in British history, to make domestic food production a strategic priority in all policy making.” While some of the predictions may seem a long way off, others are already in their infancy. “Even now, there are technologies being developed that can care for crops on a plant-by-plant basis or control the grazing of cattle without physical fences, and by 2040 this technology will be commonplace in farming,” Graham said. The British farming sector will need to be more efficient if it is to meet a key NFU goal of producing net zero greenhouse gas emissions by 2040. “Over the next 20 years we will face potentially seismic changes in all aspects of society,” Graham added. “An increase in the global population and the need to mitigate climate change will provide opportunities for British food and farming to increase productivity and reduce its impact on the environment.”

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Food must come from sterile enviroments. No life allowed.

• Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)

More than a century ago, wolves were hunted to extinction in Germany. These days, they’re back – and their presence is a source of political strife. Wolf attacks on livestock increased drastically in 2017, according to government statistics released at the weekend: they carried out 472 attacks, an increase of 66% over the previous year. The number of killed, injured or missing livestock – mostly sheep and goats – rose 55%, to 1,667. The issue of how to deal with wolves is pitting farmers who want to protect their livestock against environmentalists who prioritise the protection of vulnerable species. Julia Klöckner, the agriculture minister, said the latest figures proved the government needed to act.

Germany should shift its regulations to make it legal to remove individual wolves from a pack, she told the Neue Osnabrücker Zeitung. For more than a century, wolves were extinct in Germany. In recent years, however, especially since the country’s reunification in 1990, the animals have been reintroduced and are slowly making a comeback. They are especially prevalent in the former East German states, since many have crossed the border with Poland. Though environmentalists have lauded the return of the wolf, not everyone is happy that they are back – or that they have been awarded protected status. EU regulations outlaw the killing of wolves, allowing exceptions only when there is “no satisfactory alternative” or if people are in danger.

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Instead of simply saying don’t make the stuff anymore. London must think Brits are incredibly stupid people.

• UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)

Britain is to set out plans to overhaul its recycling system on Monday, including making plastic packaging producers pay the full cost of dealing with their waste and introducing a deposit return scheme for cans and bottles. The plans, which also aim to make household rubbish collections more consistent around the country, will be introduced by Environment Secretary Michael Gove and go out for consultation for three months. “We will introduce a world-leading tax to boost recycled content in plastic packaging, make producers foot the bill for handling their packaging waste, and end the confusion over household recycling,” Gove said in a statement. The tax will be payable by producers who fail to use enough recycled material.

At present, producers pay only around 10 percent of the cost of dealing with plastic packaging waste, the environment ministry said. Under an Extended Producer Responsibility (EPR) system, the industry will pay higher fees if its packaging is harder to reuse or recycle. EPR for packaging will raise between 800 million and one billion pounds a year for recycling and disposal, the ministry said. Government will seek views on two options for how a deposit return scheme might work for cans and glass or plastic bottles, it added. The first would target a large amount of drinks on the market, irrespective of container size. The second, known as the “on-the-go” model, would concern smaller container sizes – those most often sold for consumption outside the home.

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These birds spend most of their lives feeding at sea, returning to their nests only to breed.

• Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

Chemicals from plastics have been found inside the eggs of seabirds living in remote Arctic colonies, in the latest sign of pollution contaminating the furthest reaches of the planet. Scientists were concerned by the traces of phthalates, hormone-disrupting chemicals that have been banned from children’s toys due to their potential “gender-bending” effects. These substances are routinely applied to many plastic products, and probably came from the bottle tops and cigarette butts these seabirds often eat after mistaking them for food. The eggs were taken from northern fulmars living on an island in Lancaster Sound, more than 100 miles away from the nearest human settlement.

In a preliminary study, Dr Jennifer Provencher of the Canadian Wildlife Service tested the eggs of five fulmars and found phthalates in one, but warned the problem is likely to be far more pervasive. “These are some of the birds who have the lowest levels of accumulated plastic,” explained Dr Provencher. If fulmar colonies were tested in the North Sea, where levels of plastic consumption are far higher, she said the results could be far more dramatic. “Now the thing is to look at other populations and to see if they have the same chemicals, or other chemicals,” she said. In another study, Dr Provencher and her colleagues examined the eggs of both fulmars and black-legged kittiwakes, and found traces of more chemicals known as UV stabilisers and antioxidants. “We are finding multiple plastic-derived contaminants that are maternally transferred to the egg,” she said. “It’s really tragic.”


Scientists studied the eggs of northern fulmars from an Arctic island in Canada’s Lancaster Sound (Getty/iStock)

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Debt Rattle October 3 2018

Oct 032018
 
 October 3, 2018  Posted by at 9:30 am Finance Tagged with: , , , , , , , , , , , ,  8 Responses »


Paul Gauguin The ford 1901

 

• Fed’s Powell Says US Outlook ‘Remarkably Positive’ (R.)
• Another Market Volatility Surge Is Likely Ahead (Colombo)
• White House Responds To “Misleading” NYTimes’ Trump Tax Fraud Story (ZH)
• Italy Folds To Europe On Budget Deficit; Euro Surges (ZH)
• Merkel’s End Could Spark EU Breakdown (Luongo)
• Vancouver Home Sales Crash 44% As “For Sale” Inventory Soars (ZH)
• Australia Banking Royal Commission Could Trigger House Price Collapse (ABC.au)
• DMZ Demining Operations Lay Groundwork For Korean Peninsula Peace (YH)
• Russia May Veto Greece-FYROM Name Deal at the UN (GR)
• The Case For Paying Every American A Dividend On The Nation’s Wealth (MW)
• Restaurants In Austin Banned From Throwing Away Food (Hill)
• ‘We Have Found Hell’: Trauma Runs Deep For Children At Dire Lesbos Camp (G.)

 

 

First, here’s Ted Koppel agreeing with me that Trump Sells Better Than Sex, and Stelter really doesn’t understand:

 

 

And then he closed the spigots…

• Fed’s Powell Says US Outlook ‘Remarkably Positive’ (R.)

U.S. Federal Reserve Chairman Jerome Powell on Tuesday hailed a “remarkably positive outlook” for the U.S. economy that he feels is on the verge of a “historically rare” era of ultra-low unemployment and tame prices for the foreseeable future. It is a view, he said, based on how a changed economy is operating today, with businesses and households immunized by strong central bank policy from the inflationary psychology that caused unemployment, inflation and interest rates to swing wildly in the 1960s and 1970s. It is an outlook that includes an economic performance “unique in modern U.S. data,” with unemployment of below 4 percent expected for at least two more years and inflation remaining modest even as wages rise.

And it is an outlook he feels will even survive the Trump administration’s efforts to rewrite the global trading system, a policy shift Powell said may lead to one-time price hikes, but not to persistent changes in the annual rate of inflation going forward. “This forecast is not too good to be true,” Powell told the National Associate for Business Economics, but instead “is testament to the fact that we remain in extraordinary times.” “These developments amount to a better world for households and businesses which no longer experience or even fear the scourge of high and volatile inflation.”

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There can be no doubt.

• Another Market Volatility Surge Is Likely Ahead (Colombo)

The U.S. stock market is climbing to record highs once again and volatility has calmed down dramatically from its panic-induced levels reached earlier this year. Traders have become complacent as they passively ride the stock market higher and bet on lower volatility again. While it may seem like all is well, several reliable indicators are warning that another powerful volatility surge is likely ahead.

The first indicator is the 10-year/2-year Treasury spread that is calculated by subtracting the 2-year Treasury note yield from the 10-year Treasury note yield. The 10-year/2-year Treasury spread is helpful for estimating when the next recession is likely to occur, as I explained in a recent Forbes piece. The chart below (which I recreated from a chart made by BofA’s Savita Subramanian) shows that the inverted 10-year/2-year Treasury spread leads the CBOE Volatility Index or VIX by approximately three years. If this historic relationship holds true, we are about to experience a whole lot more volatility over the next few years.

The next chart shows the positioning of the “smart money” and “dumb money” in the Volatility Index or VIX futures. The “smart money”, or commercial futures hedgers (who tend to be right at major market turning points), are building up another bullish position in VIX futures, just like they did one year ago ahead of the stock market correction and volatility spike. In addition, the “dumb money”, or large traders (who tend to be wrong at major turning points), have built up a large short position, like they did before the early-2018 volatility spike. The positioning of these groups of traders indicates that another volatility spike is likely ahead in the not-too-distant future.

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Decades old, started when Trump was a toddler, good luck. Of course they pay as little as they can, but once the IRS signs off on it…

• White House Responds To “Misleading” NYTimes’ Trump Tax Fraud Story (ZH)

Update 2: The White House has finally responded to the NYTimes story…(via Sarah Sanders) “Fred Trump has been gone for nearly twenty years and it’s sad to witness this misleading attack against the Trump family by the failing New York Times. Many decades ago the IRS reviewed and signed off on these transactions. The New York Times’ and other media outlets’ credibility with the American people is at an all time low because they are consumed with attacking the president and his family 24/7 instead of reporting the news.

The truth is the market is at an all-time high, unemployment is at a fifty year low, taxes for families and businesses have been cut, wages are up, farmers and workers are empowered from better trade deals, and America’s military is stronger than ever, yet the New York Times can rarely find anything positive about the President and has tremendous record of success to report. Perhaps another apology from the New York Times, like the one they had to issue after they got the 2016 election so embarrassingly wrong, is in order.”

The NYT reported that Trump and his siblings set up a “sham” corporation to help disguise otherwise taxable income that came from gifts from their parents. The president also allegedly helped his father take improper tax deductions that amounted to millions of dollars and helped formulate strategy to undervalue his parents’ real estate holdings, with the Internal Revenue Service reportedly providing little pushback against the Trumps’ reported tactics. According to the leaked confidential filings, Trump’s parents left more than $1 billion to their children, which would have resulted in a roughly $550 million tax bill at the time.

However, the Trumps paid a total of $52.2 million on that source of income, according to the NYT report. To achieve this, the newspaper cited records that showed Trump helped undervalue his father’s real estate holdings, which led to a lower tax bill when he and his siblings inherited the properties. In total, Trump received the equivalent today of at least $413 million from his father’s real estate empire, based on questionable tax dealings starting when he was a toddler and continuing to this day. And, in what will attract the most attention, the newspaper wrote that Trump’s behavior amounted to fraud in some cases.

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I don’t think this one’s over yet.

• Italy Folds To Europe On Budget Deficit; Euro Surges (ZH)

After two days of brutal punishment by the markets which sent Italian bond yields to 4 years highs and slammed the euro, the Italian government appears to have folded to pressure from Brussels (and the one place in the world where the bond vigilantes still operate, just ask Sylvio Berlusconi), and according to Corriere della Sera, Italy’s draft budget plan will pledge to cut the deficit to 2% in 2021, after Rome reversed a proposal to maintain a 2.4% shortfall in the face of pressure from the EU. As a result, while the 2019 deficit will still rise to 2.4% of GDP in 2019, it will decline by 0.2% to 2.2% in 2020, and another 0.2% the year after. In kneejerk reaction, futures lept to fresh session highs, Treasury yields jumped by 2bps to 3.07% and the EURUSD spiked 50 pips higher to 1.1590.

Italy is not out of the woods yet though: according to Mizuho, the sustainability of the euro’s rebound will depend on whether the EU sees Italy’s latest budget plan as appropriate. It could be that Italy has already made compromise with the EU, but hard to predict whether the euro’s rebound has more legs until we see a reaction from the EU: “It all boils down to the EU’s response”, and if the ongoing war of words is any indication, merely promising to trim the deficit in the next three years will hardly be smiled upon. Others were even more skeptical. According to bond fund manager Daintree Capital, “The euro’s definitely reacting to the headlines on Italian budget plans, and it will continue to do so for future headlines.” However, “anyone who believes a populist government is all of a sudden going to be particularly responsible in a fiscal sense, has a misguided view.”

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Merkel’s losing it.

• Merkel’s End Could Spark EU Breakdown (Luongo)

I saw a recent poll from Die Welt which has Alternative for Germany (AfD) creep past Merkel’s Grand Coalition partner, the Social Democrats (SPD), and challenge the CDU itself. Because when you back out the Christian Social Union’s (CSU) total which runs between 8% and 9% AfD is now in a position to become the party with the highest backing in Germany. And this is happening on the eve of Bavarian State elections this month. [..] I’ve talked about AfD’s chances to achieve this result in the past in terms of them crossing the 16% Chasm. And it appears, that slowly, they are doing so. German politics, from what I understand, is not used to this kind of upheaval and certainly not these kinds of leadership challenges. Earlier this year Merkel barely survived a challenge by former CSU Leader Horst Seehofer over immigration.

So, where to things go from here? As Mercouris points out, Merkel has very skillfully gutted the landscape of the CDU to keep potential leaders from emerging within the party. The SPD is falling off a cliff having lost more than half of its support since the 2014 elections. And the CSU is primarily a Bavarian party so they don’t have the support of the entirety of Germany. This landscape is why we’ve seen the Greens rise to 15% as well as AfD’s rise. And that cannot be ignored. The hard left of German politics is now split and ineffectual. But, no party has emerged in this chaos to take the reins of power.

This is reminding me of Italy’s situation at the end of 2017 with no less than five parties polling in double digits. It’s a messy situation and it makes more sense in Germany that big shifts in voter preference would occur at a slower rate given the stability of German coalition governments since the modern state was founded after World War II. In other words Germans are loathe to make these kinds of changes. So, you know the situation must be bad if these numbers are changing this quickly. So, it shouldn’t be much of a surprise really to see this type of breakdown and the slow rise of AfD past the 16% chasm. It may be the riots in Chemnitz that finally begin pushing their poll numbers into the 20’s nationally.

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Glass half full: “”There’s more selection for home buyers to choose from today.”

• Vancouver Home Sales Crash 44% As “For Sale” Inventory Soars (ZH)

What happens when prices rise so high that a chasm forms between bids and asks? The market grinds to a halt. That’s what happened in Vancouver housing in September, when according to the Real Estate Board of Vancouver (REBGV), residential property sales tumbled by 17.3% from August 2018, and a whopping 43.5% from one year ago. In fact, a total of only 1,595 transactions took place as both buyers and sellers continue to sit on their hands amid confusion whether the recent torrid price gains will continue or whether the housing bubble has burst. Sales of detached properties in July was just 508, a decrease of 40.4% from the 852 recorded in September 2017, and the 812 apartments sold was a 44% drop compared to the 1,451 sales in September 2017.

And no, it’s not seasonal: last month’s sales were a whopping 36.1% below the 10-year September sales average. The reason for the collapse in transactions: the formerly all too willing buyers, mostly Chinese oligarchs who would use Vancouver real estate as their offshore Swiss bank account, have disappeared. Meanwhile sellers are dumping properties in the market in hopes of a quick flip. “Fewer home sales are allowing listings to accumulate and prices to ease across the Metro Vancouver housing market,” Ashley Smith, REBGV president-elect said. “There’s more selection for home buyers to choose from today. Since spring, home listing totals have risen to levels we haven’t seen in our market in four years.”

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What would we do without our housing bubble?

• Australia Banking Royal Commission Could Trigger House Price Collapse (ABC.au)

There is a lot riding on the policy recommendations from the banking royal commission, not least of which is the stability of the Australian property market, according to some respected analysts. Independent economist Saul Eslake said there was potential for the royal commission’s recommendations to have what economists refer to as “unintended consequences”. The unintended consequences Mr Eslake is referring to include a steep fall in house prices spurred on by a royal commission-inspired clampdown on bank lending. Capital Economics chief economist Paul Dales said while house price falls to date have been small, Australia could be in for a record housing decline, at least in its recent history.

“At the moment the trajectory is a bit worrying cause the house prices seem to be declining at a faster rate and, in our view at Capital Economics, this will eventually prove to be the largest downturn in Australia’s modern history,” he said. Mr Dales is forecasting a protracted slowdown in the housing market as a result of a crackdown in bank lending standards, the banking royal commission itself and rising interest rates. “There’s significant time delays with these things,” he said. “I would have thought over the next six to 12 months is where we would, if there was going to be a big pullback in lending, that’s when we would see it and then, thereafter as and when the royal commission makes any recommendations and the Government implements them, the next six to 12 months after that.

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Korea’s move on.

• DMZ Demining Operations Lay Groundwork For Korean Peninsula Peace (YH)

After a 15-minute bumpy ride along a dusty, hilly path inside the Demilitarized Zone (DMZ), dozens of South Korean troops in full gear disembarked near a grisly site of intense battles during the 1950-53 Korean War. Accompanying them in the buffer zone separating the two Koreas was a phalanx of security guards, medical specialists and other personnel specializing in disposing of unidentified explosives and excavating war remains. They are part of the 120-member team tasked with removing landmines in the Arrowhead Ridge, or Hill 281 in Cheorwon, some 90 kilometers northeast of Seoul — a site that the two Koreas have designated for a joint project to retrieve war remains from April to October next year.

There were three key battles against communist forces on the notorious ridge from 1952-53. The remains of more than 200 South Korean soldiers and dozens of U.N. Command (UNC) forces, such as U.S. and French troops, are thought to be buried in it. “We have made preparations (for the landmine removal) for a long period and are well prepared now,” the commander in charge of the frontline areas told reporters on condition of anonymity on Tuesday, the second day of the demining work set to continue until Nov. 30. “We will not rush and will carry out our mission with the first and foremost priority placed on the safety of our troops,” he added.

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EU and NATO want to keep pushing, but how about democracy?

• Russia May Veto Greece-FYROM Name Deal at the UN (GR)

Russia is implicitly threatening that it may block the Prespa agreement at the UN Security Council. In a statement on Monday, following the referendum in FYROM, the Russian foreign ministry says that the low turnout “means that the referendum cannot be recognised as valid.” It clearly indicates that the voters “chose to boycott the solutions imposed on Skopje and Athens.” The statement also blasts leading politicians from NATO and EU member states who participated in “large-scale propaganda campaign directly, freely interfering in the internal affairs of this Balkan state.” Despite the low turnout, Prime Minister Zoran Zaev vowed to push ahead with the name change on Monday.

The Russian foreign ministry condemned the move: “There is a clear drive to ensure Skopje’s entanglement in NATO despite the will of the Macedonian people.” Russia is traditionally wary of NATO’s enlargement in eastern Europe. The alliance’s 1999 bombings of its ally Serbia caused a major rift in Russia’s relations with the West at the time. Moscow says that a long-term solution can only be agreed upon by the two parties on their own, without any external interference, and only within the framework of the law and with broad public support.

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Inequality in Europe rises fast, too. Where are the breaking points?

• The Case For Paying Every American A Dividend On The Nation’s Wealth (MW)

The newest research shows that unconditional cash transfers boost work productivity and quality of life, including better mental and physical health, and reduce crime. A study by the Roosevelt Institute in New York, a left-leaning think tank, concludes that giving $500 a month to every adult American could meaningfully grow the U.S. economy and address its widening wealth gap. (The top 1% of Americans now receive 20% of the national income, while those in the bottom 50% receive 13%; in 1980, the numbers were essentially reversed, at 11% and 20%, respectively, according to the 2018 World Inequality Report.)

Yet basic income in the U.S., characterized as a utopian solution by its true believers but as welfare, socialism or worse by its detractors, has gone nowhere. Basic income did enjoy a bit of a heyday in the U.S. in the 1960s and 1970s and was even embraced in conservative circles; free-market economist Milton Friedman went so far in 1962 as to propose a negative federal income tax that would guarantee a basic income to the poorest Americans while also incentivizing work. Other ideals of the era — the four-day workweek, the 30-hour workweek, the all but limitless vacation allotment — have fallen by the wayside, even as U.S. labor conditions have worsened.

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In France, this is a nation-wide law.

• Restaurants In Austin Banned From Throwing Away Food (Hill)

Restaurants in Austin, Texas, will no longer be allowed to throw out food waste, the city announced this week. Under a new policy that began Monday, all food-permitted businesses in the city are required to keep organic material, such as food scraps and soiled paper products, from landfills. Businesses can dispose of their food waste by donating extra food, giving scraps to local farms for animals, or composting, the city government said in a press release announcing the policy.

The city’s Universal Recycling Ordinance also requires businesses to provide employees with training on organic waste diversion, and to post information about the plan. Official city data shows that 37 percent of material sent to landfills is organic and could have otherwise been donated or composted, the city said. Austin’s ordinance is the latest move by a major city to introduce eco-friendly policies. Dozens of cities and businesses nationwide have banned plastic straws and other single-use plastic items in an effort to cut down on waste.

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Welcome to Europe.

• ‘We Have Found Hell’: Trauma Runs Deep For Children At Dire Lesbos Camp (G.)

The drawings tell of trauma. Stormy seas dotted with terrified faces. Lifeless bodies of children floating among the waves. And planes dropping bombs, down on to homes and on to people. Eyes that weep blood. The pencil scrawls were made by children who are part of a growing phenomenon in the Moria refugee camp in Lesbos, Greece. All have attempted suicide or serious self-harm since they came to this place. Approximately 3,000 minors live in the Moria camp, which Médecins Sans Frontières (MSF) calls a giant open-air “mental asylum” owing to the overcrowding and dire sanitary conditions. Last Tuesday an adolescent attempted to hang himself from a pole. In August, a 10-year-old boy only just failed to take his own life.

The camp, among hills dotted with olive trees a few kilometres from the island’s capital town of Mytilene, is home to 9,000 asylum seekers living in a centre designed to hold one third of that number. Migrants live in groups of up to 30 people, crammed into tents or metal containers situated just centimetres apart. Rubbish, scattered everywhere, makes the air almost unbreathable. Most come from war-torn countries like Syria, Iraq and Afghanistan. They arrive in dinghies from the Turkish towns of Ayvalik or Canakkale. According to aid agencies, the controversial deal brokered between Brussels and Ankara aimed at stopping the flow of migrants to Europe via Turkey, combined with the refusal on the part of European countries to take in asylum seekers arriving in Greece, have transformed Lesbos into an Alcatraz, leaving people imprisoned on the island with no way out.

“Although the vast majority of migrants who arrive in Moria are traumatised, after having fled from violent conflicts in their home countries, conditions in the camp have exacerbated their trauma,” says Luca Fontana, field coordinator of MSF on the island. “After two years, some are still awaiting transferral, even if they know they could be deported to Turkey at a moment’s notice. I’ve worked in camps infested with Ebola in Sierra Leone and Guinea, but I guarantee you that this is the worst situation I’ve ever seen.”

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Debt Rattle September 27 2016

Sep 272016
 
 September 27, 2016  Posted by at 8:32 am Finance Tagged with: , , , , , , , , , ,  1 Response »


Arnold Genthe “Chinatown, San Francisco. The street of the gamblers at night” 1900

• Why I Switched My Endorsement from Clinton to Trump (Scott Adams)
• When America Was Great, Taxes Were High, Unions Strong, and Government Big (A.)
• Global Debt Reaches Fresh High As Companies And Countries Keep Borrowing (Tel.)
• When Small Is Evil (DQ)
• Structural Growth and Dope Dealers on Speed-Dial (Hussman)
• Treasury Market’s Biggest Buyers Are Selling as Never Before (BBG)
• Deutsche Bank Crisis Could Take Angela Merkel Down – And The Euro (Tel.)
• China’s Runaway Housing Market Poses Latest Challenge for Yuan (BBG)
• Sydney Home Prices Need To Drop 25% To Help First Time Buyers (Abc)
• Don’t Blame “Baby Boomers” For Not Retiring – They Can’t Afford To (Roberts)
• Saudi Lobbyists Plot New Push Against 9/11 Bill As Veto Override Looms (Pol.)
• Over 90% Of World Breathing Bad Air-WHO (AFP)
• Canadians Are Embracing Syrian Refugees. Why Can’t We? (G.)

 

 

The most interesting and thought-provoking thing I’ve read about the election amidst a river of blubber.

• Why I Switched My Endorsement from Clinton to Trump (Scott Adams)

5. Pacing and Leading: Trump always takes the extreme position on matters of safety and security for the country, even if those positions are unconstitutional, impractical, evil, or something that the military would refuse to do. Normal people see this as a dangerous situation. Trained persuaders like me see this as something called pacing and leading. Trump “paces” the public – meaning he matches them in their emotional state, and then some. He does that with his extreme responses on immigration, fighting ISIS, stop-and-frisk, etc. Once Trump has established himself as the biggest bad-ass on the topic, he is free to “lead,” which we see him do by softening his deportation stand, limiting his stop-and-frisk comment to Chicago, reversing his first answer on penalties for abortion, and so on.

If you are not trained in persuasion, Trump looks scary. If you understand pacing and leading, you might see him as the safest candidate who has ever gotten this close to the presidency. That’s how I see him. So when Clinton supporters ask me how I could support a “fascist,” the answer is that he isn’t one. Clinton’s team, with the help of Godzilla, have effectively persuaded the public to see Trump as scary. The persuasion works because Trump’s “pacing” system is not obvious to the public. They see his “first offers” as evidence of evil. They are not. They are technique. And being chummy with Putin is more likely to keep us safe, whether you find that distasteful or not. Clinton wants to insult Putin into doing what we want. That approach seems dangerous as hell to me.

6. Persuasion: Economies are driven by psychology. If you expect things to go well tomorrow, you invest today, which causes things to go well tomorrow, as long as others are doing the same. The best kind of president for managing the psychology of citizens – and therefore the economy – is a trained persuader. You can call that persuader a con man, a snake oil salesman, a carnival barker, or full of shit. It’s all persuasion. And Trump simply does it better than I have ever seen anyone do it. The battle with ISIS is also a persuasion problem. The entire purpose of military action against ISIS is to persuade them to stop, not to kill every single one of them. We need military-grade persuasion to get at the root of the problem. Trump understands persuasion, so he is likely to put more emphasis in that area.

Most of the job of president is persuasion. Presidents don’t need to understand policy minutia. They need to listen to experts and then help sell the best expert solutions to the public. Trump sells better than anyone you have ever seen, even if you haven’t personally bought into him yet. You can’t deny his persuasion talents that have gotten him this far. In summary, I don’t understand the policy details and implications of most of either Trump’s or Clinton’s proposed ideas. Neither do you. But I do understand persuasion. I also understand when the government is planning to confiscate the majority of my assets. And I can also distinguish between a deeply unhealthy person and a healthy person, even though I have no medical training. (So can you.)

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The Dream ended decades ago, it’s just a matter of picking which decade.

• When America Was Great, Taxes Were High, Unions Strong, and Government Big (A.)

There is plenty about GOP hopeful Donald Trump to which potential primary voters respond. He’s successful. He’s plainspoken. At a time when politicians are historically unpopular, he’s not a politician. And he has a great slogan. That slogan resonates with his supporters, according to Republican pollster Frank Luntz, who ran a recent focus group, the results of which were written about in Time. “I used to sleep on my front porch with the door wide open, and now everyone has deadbolts,” one man told Luntz. “I believe the best days of the country are behind us.” Luntz concluded that people see Trump as a “real-deal fixer-upper,” able to make repairs that others have bungled. “We know his goal is to make America great again,” one woman astutely observed. “It’s on his hat.”

It could be on your hat too—Trump has begun selling “Make America Great Again” merchandise—if you can find one, that is. They have a tendency to sell out. As Russell Berman pointed out in The Atlantic earlier this month, many white Americans these days are pessimistic to the point of despair: “White Americans—and in particular those under 30 or nearing retirement age—have all but given up on the American Dream. More than four out of five younger whites, and more than four out of five respondents between the ages of 51 and 64 said The Dream is suffering.” No wonder Trump’s message is so powerful—it’s a sugar pill coated with nostalgia. He is not promising to make America great, he’s promising to make it great again. But to what era does he intend to take the nation back?

And what would that look like, practically speaking? The boundaries of America’s “golden age” are clear on one end and fuzzy on the other. Everyone agrees that the midcentury boom times began after Allied soldiers returned in triumph from World War II. But when did they wane? The economist Joe Stiglitz, in an article in Politico Magazine titled “The Myth Of The American Golden Age,” sets the endpoint at 1980, a year until which “the fortunes of the wealthy and the middle class rose together.” Others put the cut-off earlier, at the economic collapse of 1971 and the ensuring malaise. Regardless of when it ended, it would not be unfair to use the ’50s as shorthand for this now glamorized period of plenty, peace, and the kind of optimism only plenty and peace can produce.

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Ever more debt is the only way to keep the facade upright enough that people believe in it.

• Global Debt Reaches Fresh High As Companies And Countries Keep Borrowing (Tel.)

Global debt issuance is on course to hit a record high in 2016 as figures showed sales this year topped $5 trillion (£3.9 trillion) at the end of September. Debt issuance rose to $5.02 trillion in the nine months to September 22, according to Dealogic, putting 2016 on course to beat the all-time high of $6.6 trillion recorded in 2006. Record low interest rates have encouraged countries and companies to issue debt as central banks around the world try to stimulate growth. The data also showed corporate issuance of investment-grade debt reached a record high of $1.54 trillion since the start of the year, up from $1.41 trillion in the same period a year earlier. Dealogic’s figures also highlighted the impact of the Brexit vote.

Sterling-denominated investment grade debt rose to $21.3bn in the first nine months of the year, up slightly from $20.9bn raised in the same period of 2015. Volumes in July fell to their lowest since 2000 as the referendum result slowed issuance, with just $564m issued, according to Dealogic. However, issuance is expected to pick up later this year following the Bank of England’s decision to buy £10bn of corporate debt as part of its revamped bond-buying programme. Sterling issuance in August jumped to six times the average following the Bank’s announcement. Green bonds – which raise money for environmentally friendly projects and often carry tax exemptions – are also rising in popularity.

Activity surpassed full-year 2015 levels in September as volumes reached a record high, worth $48.2bn. Mark Carney, the Governor of the Bank of England, has spoken out in favour of green finance, describing it as a “major opportunity” for investors. In a speech last week, he said long-term financing of green projects in emerging markets could help to promote financial stability. “By ensuring that capital flows finance long-term projects in countries where growth is most carbon intensive, financial stability can be promoted,” he said. More than $13 trillion of global sovereign and corporate debt trades at negative yields, highlighting the influence of central banks.

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Draghi’s comments on small banks remind me of Ken Rogoff’s war on cash.

• When Small Is Evil (DQ)

There are plenty of reasons to be worried about the state of Europe these days, but if one had to choose one thing above all others, it would be the gaping disconnect between reality and senior European policy makers’ willful misperception of reality. A perfect case in point was a speech given in Frankfurt by ECB president Mario Draghi. He was addressing a conference of the European Systemic Risk Board (ERSB), an organization created in 2010 by the European Commission to warn about and mitigate systemic financial risks in Europe. During his address Draghi discussed what he saw as the biggest threats to Europe’s financial system.

Just as you’d expect from any senior central banker worth his or her salt, he did not point to the most obvious risk: the zombifying banks at the very top of the financial food chain — the same banks that coincidentally constitute the ECB’s number-one constituency and whose balance sheets are still filled to the rafters with toxic assets dating back to even before the last major crisis, in 2008. By now, virtually all of these banks are fully dependent on the never-ending and ever-growing welfare assistance provided by the ECB. Nor did Draghi mention the excessive complexity and interconnectedness of the banking system, routinely fingered as potential causes of the next global financial crisis.

Nor for that matter did he mention the destructive side effects of the ECB’s negative interest rate policy (NIRP), which – besides sacrificing millions of savers and retirees via their pension funds on the altar of rampant debt creation and completely undermining the crucial micro-economic role played by capital formation – is making it difficult for Europe’s largest banks to turn a meaningful profit. No, for Draghi, the biggest financial problem in Europe these days is that it is over-banked. “Over-capacity in some national banking sectors, and the ensuing intensity of competition, exacerbates this squeeze on margins,” he said. Put simply, there’s just too much competition from the thousands of smaller banks that are crowding out the profits for the big banks.

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“The weakness in real GDP growth is of greatest concern, because it’s largely the consequence of policies that encourage repeated cycles of bubbles and collapses..”

• Structural Growth and Dope Dealers on Speed-Dial (Hussman)

In recent years, the U.S. equity market has scaled the third steepest cliff in history, eclipsed only by the 1929 and 2000 peaks, as investors rest their full confidence and weight on the protrusions of a structurally deteriorating economy, imagining that they are instead the footholds of a robust investment environment. The first of these is the current environment of low interest rates. While investors take this as quite a positive factor, it’s largely a reflection of a steep downturn in U.S. structural economic growth, magnified by reckless monetary policy. Over the past decade, the average annual nominal growth rate of GDP has dropped to just 2.9%, while real GDP growth has plunged to just 1.3%; both the lowest growth rates in history, outside of the Depression (see the chart below).

Indeed, probably the most interesting piece of information from last week’s FOMC meeting was that the Federal Reserve downgraded its estimate for the central tendency of long-run GDP growth to less than 2% annually. The weakness in real GDP growth is of greatest concern, because it’s largely the consequence of policies that encourage repeated cycles of bubbles and collapses, and chase debt-financed consumption instead of encouraging productive real investment. Indeed, growth in real U.S. gross domestic investment has collapsed since 2000 to just one-fifth of the rate it enjoyed in the preceding half-century, and has averaged zero growth over the past decade. While labor force growth has slowed, it’s really the self-inflicted collapse of U.S. productivity growth, enabled by misguided policy, that’s at the root of the problem.

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This is some investing tactic anymore. It’s about parties needing cash.

• Treasury Market’s Biggest Buyers Are Selling as Never Before (BBG)

They’ve long been one of the most reliable sources of demand for U.S. government debt. But these days, foreign central banks have become yet another worry for investors in the world’s most important bond market. Holders like China and Japan have culled their stakes in Treasuries for three consecutive quarters, the most sustained pullback on record, based on the Federal Reserve’s official custodial holdings. The decline has accelerated in the past three months, coinciding with the recent backup in U.S. bond yields. For Jim Leaviss at M&G Investments in London, that’s cause for concern. A continued retreat could lead to painful losses in a market that some say is already too expensive.

But perhaps more important are the consequences for America’s finances. With the U.S. facing deficits that are poised to swell the public debt burden by $10 trillion over the next decade, foreign demand will be crucial in keeping a lid on borrowing costs, especially as the Fed continues to suggest higher interest rates are on the horizon. The selling pressure from central banks is “something you have to bear in mind,” said Leaviss, whose firm oversees about $374 billion. “This, as well as the Fed, all means we are nearer to the end of the low-yield environment.” Overseas creditors have played a key role in financing America’s debt as the U.S. borrowed heavily in the aftermath of the financial crisis to revive the economy.

Since 2008, foreigners have more than doubled their investments in Treasuries and now own about $6.25 trillion. Central banks have led the way. China, the biggest foreign holder of Treasuries, funneled hundreds of billions of dollars back into the U.S. as its export-based economy boomed. Now, that’s all starting to change. The amount of U.S. government debt held in custody at the Fed has decreased by $78 billion this quarter, following a decline of almost $100 billion over the first six months of the year. The drop is the biggest on a year-to-date basis since at least 2002 and quadruple the amount of any full year on record, Fed data show.

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“No one really knows where the losses would end up, or what the knock-on impact would be. It would almost certainly land a fatal blow to the Italian banking system, and the French and Spanish banks would be next.”

• Deutsche Bank Crisis Could Take Angela Merkel Down – And The Euro (Tel.)

True, Merkel’s position is understandable. The politics of a Deutsche rescue are terrible. Germany, with is Chancellor taking the lead, has set itself up as the guardian of financial responsibility within the euro-zone. Two years ago, it casually let the Greek bank system go to the wall, allowing the cash machines to be closed down as a way of whipping the rebellious Syriza government back into line. This year, there has been an unfolding Italian crisis, as bad debts mount, and yet Germany has insisted on enforcing euro-zone rules that say depositors – that is, ordinary people – have to shoulder some of the losses when a bank is in trouble. For Germany to then turn around and say, actually we are bailing out our own bank, while letting everyone else’s fail, looks, to put it mildly, just a little inconsistent.

Heck, a few people might even start to wonder if there was one rule for Germany, and another one for the rest. In truth, it would become impossible to maintain a hard-line in Italy, and probably in Greece as well. And yet, if Deutsche Bank went down, and the German Government didn’t step in with a rescue, that would be a huge blow to Europe’s largest economy – and the global financial system. No one really knows where the losses would end up, or what the knock-on impact would be. It would almost certainly land a fatal blow to the Italian banking system, and the French and Spanish banks would be next. Even worse, the euro-zone economy, with France and Italy already back at zero growth, and still struggling with the impact of Brexit, is hardly in any shape to withstand a shock of that magnitude.

A rock and a hard place are hardly adequate to describe the options Merkel may soon find herself facing. The politics of a rescue are terrible, but the economics of a collapse are even worse. By ruling out a rescue, she may well have solved the immediate political problem. Yet when the crisis gets worse, as it may do at any moment, it is impossible to believe she will stick to that line. A bailout of some sort will be cobbled together – even if the damage to Merkel’s already fraying reputation for competence will be catastrophic. In fact, Merkel is playing a very dangerous game with Deutsche – and one that could easily go badly wrong. If her refusal to sanction a bail-out is responsible for a Deutsche collapse that could easily end her Chancellorship. But if she rescues it, the euro might start to unravel.

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Beijing purposely blows a giant bubble with money people don’t have.

• China’s Runaway Housing Market Poses Latest Challenge for Yuan (BBG)

Here’s the latest uncertainty facing China’s currency: sky high house prices. A runaway boom in the largest cities will push investors to look for cheaper alternatives overseas, draining money out of China and putting downward pressure on the yuan in the process, according to analysis by Harrison Hu at Royal Bank of Scotland in Singapore. An “enlarged differential between domestic and foreign asset prices will lead to capital outflows and depreciation, until parity is restored,” Hu wrote in a note. He said that the 30% year-on-year price gain in Tier 1 and leading Tier 2 cities implies a 25% rise in dollar terms, which far outpaces the 5% gain in major U.S. cities. That ratio is here in red:

“It’s commonly believed that China’s policymakers will sacrifice the yuan exchange rate to avoid a sharp correction in domestic property prices, as the latter will more significantly derail China’s economy and the financial system,” Hu wrote. That’s because the importance of the property market in the world’s second largest economy far outweighs many sectors, including the stock market. Hu compares property as a percentage of economic output to the far lighter footprint of stocks. A real estate crash in China could have far reaching consequences and it would be a long time before investors regained their confidence, according to Hu.

That will put policy makers in a very difficult position. While the government has some cards in its hand, such as an ability to control land supply and enforce curbs on new home-buying, history shows that some tightening measures risk backfiring and only stoking speculative behavior such as “panic buying” like that seen in Shanghai earlier this year. Besides, the regulator’s handling of last year’s stock market turmoil did little to inspire confidence in the government’s ability to oversee the bubbly housing market. “No bubble has a happy ending,” Hu wrote.

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Someone should calculate the losses at a 25% price drop. And do 50% too. Losses for ‘owners’ and for lenders.

• Sydney Home Prices Need To Drop 25% To Help First Time Buyers (Abc)

First home buyers are facing the biggest barrier in recent history to entering the housing market, with deposits at record high levels relative to incomes in the Sydney market. Research by Deutsche Bank’s chief Australian economist Adam Boyton shows it would take a 25% drop in Sydney home prices to bring the size of deposit required back to average levels over the past 20 years. Mr Boyton studied the Sydney market because it is the biggest, has seen rapid recent price growth and has the highest housing costs in the nation. In contrast to the record deposit needed – now estimated to be almost twice the typical annual earnings of a Sydney household – rising incomes over the early 2000s and falling interest rates since the global financial crisis have seen the burden of mortgage repayments remain comparatively stable relative to income.

Mr Boyton expresses this as “borrowing power”, which has broadly increased in line with Sydney home prices, albeit with prices jumping ahead somewhat during the most recent boom. At the low point in 2003, a Sydney household with a typical income could only borrow half what a typical house cost if their repayments were to be 30% of their gross incomes. At the best points for affordability, households could comfortably afford to borrow between 60-68% of the typical Sydney house price. Currently that figure is just over 50%.

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An epic clash unfolds before our eyes.

• Don’t Blame “Baby Boomers” For Not Retiring – They Can’t Afford To (Roberts)

In business, the 80/20 rule states that 80% of your business will come from 20% of your customers. In an economy where more than 2/3rds of the growth rate is driven by consumption, an even bigger imbalance of the “have” and “have not’s” presents a major headwind. I have often written about the disconnect between Wall Street and Main Street. As shown in the chart below, while asset prices were inflated by continued interventions of monetary policy from the Federal Reserve, it only benefited the small portion of the population with assets invested in the market.

Cheap debt, excess liquidity and a buyback spree, led to soaring Wall Street and corporate profits, surging executive compensation and rising incomes for those in the top 10%. Unfortunately, the other 90% known as “Main Street” did not receive many benefits. This divide is clearly seen in various data and survey statistics such as the recent survey from National Institute On Retirement Security which showed the typical working-age household has only $2500 in retirement account assets. Importantly, “baby boomers” who are nearing retirement had an average of just $14,500 saved for their “golden years.”

[..] The gap between the young and elderly population has shrunk dramatically in recent years as the demographic trends have shifted. Old people are living longer and young people are delaying marriage and children. This means fewer people paying into a social welfare system, while more or taking out. Of course, the burden on the social safety net remains the 800-lb gorilla in the room no one wants to talk about. But with the insolvency of the welfare system looming in less than a decade, I am sure it will become a priority soon enough.

Of course, as we will discuss in a moment, the problem is that while the “baby boom” generation may be heading towards retirement years, there is little indication a large majority of them will be actually retiring. With a large majority of individuals being dependent on the welfare system in retirement, the burden will fall on those next in line. Welcome to the “sandwich generation” when more individuals will be “sandwiched” between supporting both parents and children in the same household. It should be no surprise multi-generational households in the U.S. are at their highest levels since the “Great Depression.”

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Obama’s fist veto override?

• Saudi Lobbyists Plot New Push Against 9/11 Bill As Veto Override Looms (Pol.)

Saudi Arabia is mounting a last-ditch campaign to scuttle legislation allowing families of victims of the Sept. 11, 2001 attacks to sue the kingdom — and they’re enlisting major American companies to make an economic case against the bill. General Electric, Dow Chemical, Boeing and Chevron are among the corporate titans that have weighed in against the Justice Against Sponsors of Terrorism Act, or JASTA, which passed both chambers unanimously and was vetoed on Friday, according to people familiar with the effort. The companies are acting quietly to avoid the perception of opposing victims of terrorism, but they’re responding to Saudi arguments that their own corporate assets in the kingdom could be at risk if the law takes effect.

Meanwhile, Trent Lott, the former Senate majority leader who now co-leads Squire Patton Boggs’ lobbying group, e-mailed Senate legislative directors on Monday warning that the bill could lead other countries to withdraw their assets from the United States and retaliate with laws allowing claims against American government actions. “Many foreign entities have long-standing, intimate relations with U.S. financial institutions that they would undoubtedly unwind, to the further detriment of the U.S. economy,” reads one of the attachments, obtained by POLITICO. “American corporations with interests abroad may be at risk of retaliation, a possibility recently expressed by GE and Dow.” Still, the Saudis and their agents face a significant uphill battle, with lawmakers loath to take a vote against victims of the 9/11 attacks right before an election.

There was little public opposition to the bill as it made its way through the Capitol, and even now, efforts to tweak the bill haven’t caught much traction. Senate Majority Leader Mitch McConnell (R-Ky.) announced Monday that the Senate will vote Wednesday on a motion to override President Barack Obama’s veto, and if override advocates are successful there, the House will take the same vote Thursday or Friday, a House Republican leadership aide said. But even if Obama receives the first veto override of his presidency, the story won’t end there: the Saudis will seek a new bill to scale back the law in the lame-duck session or in the next session, after lawmakers are relieved from the heat of the campaign, people familiar with the plans said. “It’s Washington at its finest,” one of the people said.

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How to kill off your own species.

• Over 90% Of World Breathing Bad Air-WHO (AFP)

Nine out of 10 people globally are breathing poor quality air, the World Health Organization said Tuesday, calling for dramatic action against pollution that is blamed for more than six million deaths a year. New data in a report from the UN’s global health body “is enough to make all of us extremely concerned,” Maria Neira, the head of the WHO’s department of public health and environment, told reporters. The problem is most acute in cities, but air in rural areas is worse than many think, WHO experts said. Poorer countries have much dirtier air than the developed world, according to the report, but pollution “affects practically all countries in the world and all parts of society”, Neira said in a statement. “It is a public health emergency,” she said.

“Fast action to tackle air pollution can’t come soon enough,” she added, urging governments to cut the number of vehicles on the road, improve waste management and promote clean cooking fuel. Tuesday’s report was based on data collected from more than 3,000 sites across the globe. It found that “92% of the world’s population lives in places where air quality levels exceed WHO limits”. The data focuses on dangerous particulate matter with a diameter of less than 2.5 micrometres, or PM2.5. PM2.5 includes toxins like sulfate and black carbon, which can penetrate deep into the lungs or cardiovascular system. Air with more than 10 microgrammes per cubic metre of PM2.5 on an annual average basis is considered substandard.

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Funny little story against a very serious backdrop.

• Canadians Are Embracing Syrian Refugees. Why Can’t We? (G.)

Nobody warned the Hendawis about Canadian girls. Wadah and Raghdaa Hendawi survived the civil war in Syria, fleeing the devastation of Aleppo with their children for the relative safety of Lebanon. For three years their teenage sons missed out on an education while they worked to support the family. Then they hit the immigration jackpot – Canada. They were greeted at Halifax airport not by immigration officials or social workers, but by their sponsors – a bunch of well-meaning locals whose fundraising efforts would support the family for the next 12 months. And so the Hendawis arrived in the small fishing town of Shelburne, Nova Scotia, swaddled in new ski jackets, blinded by the winter sunshine bouncing off fresh February snow.

They were the only Syrians in the village, and had no idea what was in store for them. The Rev. Joanne McFadden knew the names and ages of the family she was helping to sponsor, but apart from that she too didn’t know what to expect. She certainly wasn’t prepared for the phone call that came three days after Saed (18), Mohamad (16) and Ahmed (15) started attending Shelburne Regional High School. I get a phone call from the principal. ‘Uhhh, Joanne, we have a problem.’ ‘What’s the problem, Mary?’ ‘Well, all the girls in the school are chasing the boys.’ This hadn’t even crossed our mind, right, that this was even a possibility. It was like, pardon me, we’ve got some things to figure out.

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