Hollywood Archives - The Automatic Earth

I guarantee this is the most important clip you will watch all week, and you will remember it for the rest of your life. https://t.co/AT6eQjbCPC pic.twitter.com/2ek7z43UnK

— Mike Benz (@MikeBenzCyber) January 16, 2025

Granddaughters
https://twitter.com/i/status/1879738402633101535

Yilongma

🚨NEW: Yilongma responded to Elon saying he would love to do a livestream with him: "No problem! Driving my Tesla! Livestreaming on X! I love you! WOW!" 😂❤️pic.twitter.com/t1j4BQKZLO

— Autism Capital 🧩 (@AutismCapital) January 15, 2025

Leavitt

Incoming White House Press Secretary @karolineleavitt says Team Trump couldn’t be more pleased with how the confirmation hearings are going on Capitol Hill. She says the only thing we’ve learned in the past 48 hours is that Democrats have not yet found a cure to Trump Derangement… pic.twitter.com/yBsoDgD92q

— Jesse Watters (@JesseBWatters) January 16, 2025

Sachs

Prof. Jeffrey Sachs: ‘This is Israel using the United States as if our military is in their hands, which in effect it is…’

‘I regard Netanyahu as having been our greatest, disastrous President of the 21st century because he ran American foreign policy for 20 years and he cost… pic.twitter.com/WqsKt7ZUv1

— Going Underground (@GUnderground_TV) January 15, 2025

Joe 2016

"We led a coup in Ukraine, installed a government, looted, and played both sides"

(Joe Biden in 2016) pic.twitter.com/zEyiXQddLG

— Richard (@ricwe123) January 16, 2025

Bessent
https://twitter.com/i/status/1879934087064088636

RON WYDEN: "We're in a clean energy arms race with China. Which side are you on?"

SCOTT BESSENT: "China will build 100 new coal plants this year. There is not a clean energy race. There is an energy race. China will build 10 nuclear plants this year. I'm in favor of more nuclear… pic.twitter.com/loFYRiETc3

— KanekoaTheGreat (@KanekoaTheGreat) January 16, 2025

1871

Let’s see you break it.

• Netanyahu’s Office Confirms Gaza Deal Signed by Israel, Hamas, US, Qatar (Sp.)

Israeli Prime Minister Benjamin Netanyahu’s office has confirmed that Israel, Palestinian movement Hamas, the United States and Qatar have signed a deal on a ceasefire and the release of hostages in the Gaza Strip, The Jerusalem Post newspaper reported on Friday, citing the office. The prime minister gave instructions to convene the security cabinet and then hold a government meeting to approve the deal, the report added.On Thursday, media reported, citing an Israeli official, that the Israeli security cabinet will meet to vote on the ceasefire deal on Friday, while the Israeli government is expected to vote on the agreement on Saturday.

Israel and Hamas, with the mediation of Qatar, Egypt and the United States, agreed on January 15 to a 42-day ceasefire and declared their intention to finally end the hostilities that have claimed the lives of 46,000 Palestinians and about 1,500 Israelis over 15 months, spreading to Lebanon and Yemen and provoking an exchange of missile strikes between Israel and Iran. The first stage provides for a partial exchange of prisoners, the withdrawal of Israeli troops to the Gaza borders and humanitarian aid. The second and third stages are yet to be agreed upon. Under the deal, the guarantors of the agreement — Qatar, Egypt and the United States — will establish a coordination center in Cairo.

Alon Piskas

BREAKING: Former Israeli diplomat Alon Pinkas tells CNN that Donald Trump was the "game-changer" behind the Israel-Hamas ceasefire and hostage release agreement.

Biden didn't do anything.

"If you're asking what the game changer was and what brought Netanyahu to say yes now… pic.twitter.com/3JGTcqNy0W

— KanekoaTheGreat (@KanekoaTheGreat) January 15, 2025

“..Trump’s envoy pick managed to achieve more “in a single sit-down” than President Joe Biden’s administration had in a year.”

• Trump Played Key Role In Gaza Ceasefire Deal – Times of Israel (RT)

US President-elect Donald Trump’s team has played a deciding role in mediating a ceasefire deal between Israel and the Gaza-based militant group Hamas, the Times of Israel reported on Wednesday, citing two Arab officials. Trump’s incoming Middle East envoy, Steve Witkoff, has reportedly managed to convince Israeli Prime Minister Benjamin Netanyahu to agree to the truce’s terms in just one meeting. On Wednesday, Trump announced that West Jerusalem and Hamas had reached an agreement securing the release of the remaining hostages. According to multiple media reports, the deal struck in Qatar involves a 42-day truce and an exchange of prisoners, including all Israelis taken captive in the October 7, 2023 Hamas incursion. Witkoff has been in Qatar’s capital, Doha, for the past week and has taken an active part in the hostage release talks, according to the Times of Israel.

Last Saturday, he also flew to Israel for a meeting with Netanyahu. It was during that meeting that he reportedly swayed the Israeli prime minister to accept the key provisions of the deal, two Arab sources told the news outlet. Two days after the meeting, both sides told the mediators they have accepted the draft deal in principle, the sources added. Neither Witkoff, nor the Israeli prime minister’s office responded to the Times of Israel’s request for comment. The paper also stated that Trump’s envoy pick managed to achieve more “in a single sit-down” than President Joe Biden’s administration had in a year. After the deal’s announcement, both Trump and Biden claimed credit for it. The president-elect called it an “epic ceasefire agreement that could only have happened” because of his election victory in November.

Biden called it a result of “dogged and painstaking American diplomacy” as well as pressure exerted on Hamas and the weakening of Iran. The outgoing president nonetheless credited the role played by his successor, saying that “for the past few days, we have been speaking as one team.” Trump’s team responded on X by claiming that Biden could not have gotten the deal done without the intervention of Trump and Witkoff. The US State Department also recognized Trump’s role in the development. “The involvement of President-elect Trump’s team has been absolutely critical in getting this deal over the line,” its spokesman, Matthew Miller, told journalists.

On Thursday, Netanyahu’s office accused Hamas of “reneging” on key points of the deal, claiming the Palestinian group had created “a last-minute crisis that is preventing an agreement.” The militants denied the accusations, saying they were “committed” to the deal. West Jerusalem intensified its airstrikes across Gaza shortly after the announcement of the truce deal. At least 32 people were killed in “heavy Israeli bombardment” on Wednesday evening, according to Reuters. On Thursday, the IDF accused Hamas of firing a rocket into the Jewish state, adding that the incident had caused no casualties.

Two more days before it’s active.

• Hamas Denies Netanyahu’s Claims On Violating Hostage Deal (RT)

Palestinian armed group Hamas has rejected claims by the office of Israeli Prime Minister Benjamin Netanyahu that it is creating a last-minute “crisis” in finalizing the deal to release the hostages held in Gaza. On Wednesday, US President-elect Donald Trump announced that Israel and Hamas had struck an agreement securing the release of the remaining hostages. According to multiple media outlets, the agreement approved in Qatar involves a 42-day truce and an exchange of prisoners, including all Israelis taken captive in the October 7, 2023 Hamas incursion into the country. “Hamas is committed to the ceasefire agreement, which was announced by the mediators,” Izzat al-Risheq, a senior member of the group’s political bureau, said in a post on Telegram on Thursday.

The statement came shortly after Netanyahu’s office accused the Palestinian group of “reneging on the understandings” reached as part of the hostage deal and “creating a last-minute crisis that is preventing an agreement.” “The Israeli cabinet will not convene [to approve the deal] until the mediators notify Israel that Hamas has accepted all elements of the agreement,” it stressed. Israel intensified its airstrikes across Gaza shortly after the ceasefire and hostage release deal was announced, Reuters reported, citing the civil emergency service and residents in the enclave. The attacks came as people in Gaza took to the streets to celebrate the truce, which is expected to start on Sunday. At least 32 people were killed in “heavy Israeli bombardment,” especially of Gaza City, late on Wednesday, the agency said.

The strikes continued early on Thursday, with homes being destroyed in Rafah in southern Gaza, Nuseirat in central Gaza, and in northern Gaza, it added. The Israel Defense Forces (IDF) blamed Hamas for firing a rocket into Israel on Thursday, with the incident causing no casualties. Israel began its military operation in Gaza 15 months ago in response to the cross-border raid by Hamas, in which around 1,200 people died and 250 others were taken prisoner. At least 94 of them still remain in captivity. Nearly 47,000 Palestinians have been killed and over 104,000 wounded in Israeli attacks in the enclave, according to the latest data from Gaza’s health ministry.

The Brits still have a sense of humor.

• UK To Sign ‘100 Year Partnership’ With Ukraine (RT)

The UK and Ukraine will sign a 100-year partnership agreement during British Prime Minister Keir Starmer’s first trip to Kiev since taking office, London has said. The British government announced the planned deal on Thursday, shortly before Starmer arrived in the Ukrainian capital on a surprise visit. The agreement that the prime minister and Ukrainian leader Vladimir Zelensky are expected to sign will formalize “the unbreakable bonds” between the two countries, further expanding bilateral ties in defense and other areas, the government statement read. The treaty would “deter ongoing Russian aggression” against Ukraine and commit London and Kiev to increase defense cooperation, including on maritime security in the Baltic Sea, Black Sea and Sea of Azov, it stated.

Moscow has control of the whole Sea of Azov coastline after the Donetsk and Lugansk People’s Republics, and Kherson and Zaporozhye regions officially became part of Russia following referendums in the fall of 2022. Russian President Vladimir Putin and other officials have since then described it as Russia’s “inland sea.” As part of the deal, a UK-built Grain Verification Scheme will be launched in order to track down on what London called “stolen grain,” referring to the crops produced in Russia’s new territories. “We are closer than ever, and this partnership will take that friendship to the next level,” Starmer claimed before his trip. The UK has been one of Ukraine’s prime backers since the escalation between Moscow and Kiev in February 2022. It has committed 12.8 billion pounds ($16 billion) in military and civilian aid to Kiev and trained 50,000 Ukrainian troops on British soil.

However, Bloomberg reported on Wednesday that officials close to Zelensky have privately expressed disappointment in Starmer for months over what they described as his cautious approach to Ukraine. According to the agency, the Ukrainian leadership has also questioned why it took the British prime minister, who assumed office more than six months ago, so long to visit Kiev. Russia’s Foreign Ministry spokeswoman Maria Zakharova previously said that Britain’s continued support for Ukraine is a sign that the UK government “clearly does not seek to resolve the conflict [between Moscow and Kiev]. They are doing everything possible to make it drag on, thus prolonging the suffering of the Ukrainian people.”

There are still some warmongers left.

• UK and France Secretly Discussing Troops For Ukraine – Telegraph (RT)

British Prime Minister Keir Starmer and French President Emmanuel Macron have discussed sending soldiers into Ukraine as a peacekeeping force, the Telegraph has claimed citing anonymous sources. Ukraine’s Vladimir Zelensky first mentioned the idea last week, and said he would discuss it with Starmer when he visits Kiev. According to the British outlet, however, Starmer is not fully on board yet. “There are challenges over what we could support, what would we want to support, and the broader question about the threat that those troops may be under and whether that is escalatory,” the Telegraph quoted a Whitehall source as saying on Wednesday evening. Spokespeople for 10 Downing Street and the Elysee Palace did not deny that Starmer and Macron discussed the peacekeeper possibility last week at the Chequers estate in the UK, but gave no details about the conversation.

Starmer was in Kiev on Thursday, promising a “100-year partnership” pact with Ukraine. One of the rumored plans US President-elect Donald Trump might propose after taking office next Monday involves Western troops deployed as peacekeepers along the demilitarized zone between Russia and Ukraine, supposedly running along the current line of conflict. No US forces would be involved, only “European” soldiers not acting under NATO command, according to media reports that have been impossible to verify. Macron reportedly brought up the idea of “European” peacekeepers with Polish Prime Minister Donald Tusk last month, but Warsaw said it was “not planning any such actions.” Earlier this week, Zelensky wrote on social media that he had discussed with “key allies” the “practical steps” for the implementation of the peacekeeper idea.

“We are getting slightly ahead of ourselves. We are not there yet,” one British official told the Telegraph. Putting boots on the ground in Ukraine has been endorsed by former PM Boris Johnson, former Foreign Minister Jeremy Hunt, and two ex-defense ministers, Grant Shapps and Gavin Williamson. The UK has given 12.8 billion pounds ($16 billion) in military and civilian aid to Kiev since the conflict between Russia and Ukraine escalated in February 2022, and reportedly trained 50,000 Ukrainian troops on British soil. The British government’s continued support for Kiev means London “clearly does not seek to resolve the conflict,” Russian Foreign Ministry spokeswoman Maria Zakharova said recently, accusing the UK of “doing everything possible to make it drag on, thus prolonging the suffering of the Ukrainian people.”

Russia will love this part…

• UK Promises To ‘Explore Options’ For Military Bases In Ukraine (RT)

London has revealed details of a long-term partnership agreement with Kiev, which includes broad plans for military infrastructure development and defense cooperation over the next century. The document suggests the potential establishment of military bases in Ukraine, with an emphasis on aligning these initiatives with NATO standards for maximum effectiveness.The 15-page declaration, signed on January 16, 2025, lays out a framework for cooperation between the United Kingdom and Ukraine across various sectors, with a primary focus on military collaboration. British Prime Minister Keir Starmer and Ukrainian leader Vladimir Zelensky formalized the deal during a ceremony in Kiev on Thursday. “The Participants will explore options for deploying and maintaining defence infrastructure in Ukraine, including military bases, logistics depots, reserve military equipment storage facilities and war reserve stockpiles,” the document states.

The agreement also emphasizes maritime cooperation, particularly in the Black Sea region. The UK has pledged to enhance Ukraine’s interoperability with NATO in the maritime sphere through joint naval operations, port visits, and the development of Ukrainian naval bases. “We will work together to ensure NATO learns the lessons from Ukraine’s experience in the Black Sea to inform its development of future maritime capabilities. We will promote the development of naval bases on the territory of Ukraine,” the document reads. Another section highlights plans to “deepen cooperation on long-range strike capabilities,” integrated air and missile defense, and the stockpiling of complex weapons to bolster “deterrence.” Additionally, London has committed to providing Ukraine with annual military assistance of no less than £3 billion until at least 2031, and “for as long as needed to support Ukraine.”

While the agreement lacks detailed, binding commitments beyond promises to expand, intensify, and facilitate collaboration across multiple sectors, Zelensky hinted at potential “secret” components within the pact. The UK has been one of Ukraine’s prime backers since the escalation of conflict between Moscow and Kiev in February 2022. It has committed 12.8 billion pounds ($16 billion) in military and civilian aid to Ukraine and reportedly trained 50,000 Ukrainian troops on British soil. Russia has sharply criticized London’s continued support of Kiev as a sign that the UK government “clearly does not seek to resolve the conflict.” Russian Foreign Ministry spokeswoman Maria Zakharova previously said “they are doing everything possible to make it drag on, thus prolonging the suffering of the Ukrainian people.”

Meanwhile, reports suggest that US President-elect Donald Trump, set to take office next Monday, may propose deploying Western troops as peacekeepers along a demilitarized zone between Russia and Ukraine. The rumored plan reportedly excludes US forces, relying instead on “European” soldiers acting outside NATO’s command structure. London remains cautious about the idea of sending British troops to Ukraine as part of any peacekeeping force, even though Starmer is said to have discussed the matter with French President Emmanuel Macron, according to The Telegraph.

“Almost No One in Greenland Wants to Join the US.” I don’t believe that for a second. They’re tired of Demark.

• Denmark’s Repeated Threats Over Greenland’s Independence Bid (Sp.)

For years, Denmark has been threatening Greenland every time the issue of independence is raised, the leader of the island’s largest opposition party, Naleraq, and former Greenlandic Foreign Minister Pele Broberg told RIA Novosti. “Every time we talk about independence, they [the Danes] threaten us. They say, ‘If you do this, you will never come to Denmark again; you will have no education, etc.’ We always hear threats when we talk about independence,” Broberg said. For example. He added that when his party ran for parliament seats in 2018 and he mentioned the plan to gain independence, the Danish prime minister addressed national media, saying that it was unrealistic. “Even to this day, Danish politicians say, ‘No, no, we will never do anything like that [give Greenland independence].'”

They don’t even seem to respect the self-government law as far as independence is concerned. But we have a problem in that there are political parties that are publicly in favor of independence without any plans but don’t really want it,” the official noted. In addition, Naleraq has a very clear plan to leave the Kingdom of Denmark, which is that if the party wins the 2025 parliamentary elections, it will submit an application for an independence referendum on the same day, Broberg added. “It may take two days, it may take two months, it may take two years. The plans we have developed are based on how we left the EU in the 80s. We voted in 1982, and we left in 1985. Brexit also took three years, and that is why we keep saying that the discussion is about a three-year period. The most important thing for us is to start the process itself,” the ex-minister said.

Washington has no chance to bribe the Greenlandic government to annex the island, the former minister added. “No,” Broberg said in response to a corresponding question. US President-elect Donald Trump, who is due to assume office on January 20, has called it an “absolute necessity” for the United States to own Greenland. Greenland’s Prime Minister, Mute Egede, responded by saying that the island was not for sale. Greenland was a colony of Denmark until 1953. It remains part of the kingdom, but in 2009 it received autonomy with the ability to self-govern and make independent choices in domestic policy.

Almost No One in Greenland Wants to Join the US. Only 0.0001% of people in Greenland want to become part of the United States, while 75% support the idea of independence from Denmark, Pele Broberg pointed out. US President-elect Donald Trump, who is due to assume office on January 20, has called it an “absolute necessity” for the United States to own Greenland. Greenland’s Prime Minister, Mute Egede, responded by saying that the island was not for sale. On January 7, Donald Trump Jr., the son of the president-elect, visited Greenland. Following the visit, Trump confirmed in a post on Truth Social that his son and members of his team visited the nation, adding that “the reception was great.” The president-elect posted a video in which people wearing baseball caps that read “Make America Great Again” responded in the affirmative when asked if they wanted Trump to buy Greenland.

Still diverting attention away from Nordstream?

• Moscow Slams West For ‘Fantastic Hypocrisy’ (RT)

The West is spinning incidents in the Baltic Sea as purported evidence of a Russian threat, while putting a smoke screen on real attacks that undermine European energy security, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday. The EU and NATO have alleged that Moscow was behind multiple cases of power and communication cables being damaged in recent months. Western officials have argued that they justify bolstering NATO regional presence and imposing sanctions against the so-called ‘shadow fleet’ – ships allegedly involved in Russian oil exports in defiance of unilateral restrictions issued by Western nations. Western claims that Moscow is waging a sabotage campaign in the Baltic Sea fit a wider pattern of baseless accusations against Russia, Zakharova said. She told a regular media briefing: “Accusations directed against our nation are being habitually voiced before the circumstances of what had happened are established. We have seen this many times.”

She accused the West of “fantastic hypocrisy,” pointing to what she described as the “non-investigation” of the September 2022 attack on the Nord Stream pipelines. The energy links built under the Baltic Sea were intended to deliver Russian natural gas directly to Germany, before being blown up in what Moscow calls a “terrorist attack.” The US benefited the most from the incident and was likely behind it directly or through a proxy, Russian officials have claimed. In early 2022, US President Joe Biden declared that “there will be no Nord Stream,” if Russia used military force against Ukraine.

Zakharova criticized Brussels for swiftly demanding action against Russia over the cable incidents after showing no such reaction to the Nord Stream sabotage. “It seems that since Biden said that he would destroy this project, the EU believes that what happened was all proper,” she said. She also condemned the EU for reacting meekly to Kiev’s drone attack on a Russian compressor station last week. The facility pumps natural gas under the Black Sea to Türkiye and multiple consumers in Southern Europe. Attacks like that are seemingly being “condoned by the part of the EU, which has been acting against the interests of their own people for many years,” she stated. Such people would rather stoke fear in Europe over the “myth” of supposedly dangerous Russian ships than address genuine security threats, she added.

Please go away.

• In Farewell Address, Biden Brags (ZH)

Five days before leaving office, President Joe Biden delivered a live primetime farewell address to the nation, highlighting his accomplishments and warning of emerging threats, including oligarchs and a “tech-industrial complex.” His speech, delivered from the Oval Office on Wednesday evening, not only marked the end of his presidency but also the conclusion of his five-decade political career. “After 50 years of public service, I give you my word, I still believe in the idea for which this nation stands, a nation where the strengths of our institutions and the character of our people matter and must endure,” Biden said before ending his speech. “Now, it’s your turn to stand guard.” As Emel Akan reports for The Epoch Times, Biden’s political career, which spanned decades and included serving as a senator from Delaware and as vice president under President Barack Obama, will come to an end on Jan. 20 when he hands the reins to Republican President-elect Donald Trump.

“In the past four years, our democracy has held strong, and every day, I’ve kept my commitment to be president for all Americans through one of the toughest periods in our nation’s history,” Biden said. Ahead of Biden’s farewell speech, the White House released a fact sheet outlining his administration’s record, highlighting a long list of actions, starting with the efforts to combat the pandemic. “Millions of Americans now have the dignity of work. Millions of entrepreneurs and companies creating new businesses and industries, hiring American workers, using American products,” Biden said. “Together, we’ve launched a new era of American possibilities.” Biden is leaving office with his approval rating at the lowest point of his term, according to a recent CNN poll. Only 36 percent of U.S. adults say they approve of how Biden handled the presidency, with particularly low marks on issues like immigration, foreign affairs, and the economy.

Biden stated that although a positive impact of his policies and spending priorities may not be felt right away, he believes they will produce lasting benefits in the years ahead. “You know, it will take time to feel the full impact of all we’ve done together but the seeds are planted. And they‘ll grow and they’ll bloom for decades to come,” he said. In his nearly 17-minute speech, Biden did not mention his successor by name but wished success to the incoming administration. “I’m so proud of how much we’ve accomplished together for the American people. And I wish the incoming administration success because I want America to succeed,” Biden said. Presidential farewell addresses are a longstanding tradition in American politics, offering presidents a final chance to reflect on their time in office, list their accomplishments, and provide parting advice to the nation.

As Ronald Reagan famously remarked in his 1989 farewell address, “There is a great tradition of warnings in Presidential farewells.” This tradition is a key feature of farewell addresses, where outgoing leaders look to the future and warn of potential dangers facing the nation. Biden’s farewell address followed the same pattern. “I want to warn the country of some things that give me great concern,” Biden said. “Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead.” Biden referred to Dwight Eisenhower’s iconic 1961 farewell address where he warned the nation about the dangers of the “military-industrial complex.” “The potential for the disastrous rise of misplaced power exists and will persist,” Eisenhower said during his speech.

“Six decades later, I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers for our country,” Biden said. “Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power. The free press is crumbling. Errors are disappearing. Social media is giving up on fact-checking.”Biden recently expressed disapproval of Meta’s decision to do away with its current social media fact-checking program, calling it “really shameful.” Meta CEO Mark Zuckerberg justified the decision last week in a video statement by saying that fact-checking has become “too politically biased,” resulting in censorship and a loss of trust. He also warned of dangers of AI, saying that it’s crucial for people to govern this new technology. “As the land of liberty, America, not China, must lead the world in the development of AI,” Biden said.

Biden also hinted in his speech at charges his Department of Justice made against Trump. “We need to amend the Constitution to make clear that no president, no president, is immune from crimes that he or she commits while in office,” Biden said. This marked the president’s fifth and final address from the Oval Office since taking office. The president last spoke from behind the Resolute Desk on July 24, when he addressed the nation to explain his decision to withdraw from the 2024 presidential race. Farewell addresses are a key opportunity for presidents to shape the narrative of their time in office, according to Tom McArdle, former White House speechwriter for President George W. Bush. “Presidents use farewell addresses primarily to try to write history before the historians do, and they rarely succeed,” he told The Epoch Times.

Their efforts often fail because the true measure of a presidency is shaped more by actions than words, McArdle said. It’s inevitably Biden’s performance that will define his legacy, he said. The president’s farewell speech comes on the heels of a breakthrough in the Middle East, as Israel and Hamas reached a deal for a hostage and prisoner swap, along with a six-week ceasefire, set to take effect on Jan. 19.Before he began his farewell speech, Biden took credit for his work in brokering the deal in the Middle East. “After eight months of non-stop negotiation by my administration, a cease-fire and hostage deal has been reached by Israel and Hamas,” Biden said. “This plan was developed and negotiated by my team, and it will be largely implemented by the incoming administration.”

She was impressive.

• Pam Bondi’s Confirmation Hearing for Attorney General (ET)

Former Florida Attorney General Pam Bondi fielded questions from the Senate Judiciary Committee on Jan. 15 as part of her confirmation process to serve as the next attorney general of the United States. During the hearing, both sides of the aisle focused on concerns about the weaponization of the Department of Justice (DOJ), which Bondi pledged not to engage in. Democrats tended to focus on Bondi’s ties with President-elect Donald Trump and her willingness to maintain the DOJ’s independence from the White House. She also encountered questions about illegal immigration, national security, and FISA warrants. While the Senate is expected to confirm Bondi, Sam Dorman, via The Epoch Times, lays out some of the main topics addressed during the hearing:

Former Florida Attorney General Pam Bondi fielded questions from the Senate Judiciary Committee on Jan. 15 as part of her confirmation process to serve as the next attorney general of the United States. During the hearing, both sides of the aisle focused on concerns about the weaponization of the Department of Justice (DOJ), which Bondi pledged not to engage in. Democrats tended to focus on Bondi’s ties with President-elect Donald Trump and her willingness to maintain the DOJ’s independence from the White House. She also encountered questions about illegal immigration, national security, and FISA warrants. While the Senate is expected to confirm Bondi, here are some of the main topics addressed during the hearing:

They don’t work anyway.

• Trump Team Planning Roadmap To Ease Russia Sanctions – Bloomberg

Advisers to US President-elect Donald Trump are developing a sanctions strategy to push Russia-Ukraine peace talks which could involve easing restrictions on Moscow, Bloomberg claimed on Thursday. Last week, incumbent US President Joe Biden unveiled a “sweeping” new round of sanctions on Moscow, targeting two major Russian petroleum producers, Gazprom Neft and Surgutneftegaz, associated entities, as well as 183 vessels involved in transporting Russian crude oil. These new measures have already caused world oil prices to surge; Brent futures have gained almost $5 per barrel since they were announced. Citing people familiar with Trump’s plans, Bloomberg has claimed that the future president’s team is currently considering two main approaches to future US sanctions.

In the first scenario, if Washington sees that the Ukraine conflict could soon be resolved, limited sanctions relief may be granted to Russian oil companies as a gesture of good faith. The other option, however, is to take a more aggressive stance by intensifying restrictions in a bid to put more pressure on Moscow and increase US leverage in negotiations. According to the outlet, the easing of sanctions against Moscow could include raising the ceiling on Russian oil prices above the current limit of $60 per barrel. Meanwhile, tougher restrictions could involve strengthening secondary sanctions or measures against ships that allegedly transport oil from Russia. Bloomberg’s sources noted that these plans are still in their early stages and depend on how Trump himself chooses to proceed.

Moscow has vehemently condemned Biden’s last round of sanctions, calling them “illegal,” with Kremlin spokesman Dmitry Peskov warning that they could destabilize global energy markets. Responding to Washington’s move, Russian Foreign Ministry spokeswoman Maria Zakharova also suggested that the outgoing president’s legacy would be defined by the “mess” he leaves behind. Meanwhile, Trump has said that a meeting between him and Russian President Vladimir Putin is currently being set up. with Moscow also expressing an openness to negotiations with the future US leader.

Careful what you say anywhere.

• Far Left UK Government Proposes BANNING “Controversial” Conversations (MN)

The leftist Labour government in Britain has proposed radical reforms to the rights of workers that could include classing ‘sensitive’ topics of conversation in the workplace such as religion, women’s rights, or transgenderism as ‘harassment’. The proposed legislation would force employers to prevent workers from being subjected to such subjects by third parties, such as customers. If they are found to have failed to do so, they could face lawsuits under the legislation. Watchdog The Equality and Human Rights Commission (EHRC) has warned that if it comes into the force next year, the proposed law could significantly impact freedom of expression and even be applied to “overheard conversations” such as those between two or more people in a pub.

Wow. You gotta listen to this.

“It really is 1984, we are living it now”

In the UK, they are looking to curb speech in Pubs by “banning customers from discussing controversial topics” in case the conversation you are talking about offends someone.

This is absolutely mad.

🎥… pic.twitter.com/LP4OshDHB0

— Kosher🎗🧡 (@koshercockney) January 14, 2025

The EHRC has noted that applying the harassment law in cases involving a “philosophical belief” could lead to problems owing to the fact that many employers do not understand such topics are protected by equality law. “The legal definition of what amounts to philosophical belief is complex and not well understood by employers. It is arguable that these difficulties may lead to disproportionate restriction of the right to freedom of expression,” the watchdog warned. A spokesman for the British Beer and Pub Association said in comments to The Times “Any legalisation must be carefully drafted to make sure it does not have unintended consequences, such as pub workers expected to decide whether private conversations between customers constitute a violation of law.”

Julia Hartley-Brewer slams a potential Labour law that may ban pub-goers from speaking freely about controversial issues such as the trans debate.

"Labour view everyone in the pub as horrible, racist, xenophobic bigots… part of the crackdown on freedom of speech!"@JuliaHB1 pic.twitter.com/kdRpWr8BUE

— Talk (@TalkTV) January 14, 2025

Sir Tim Martin, founder and chairman of the pub chain Wetherspoons urged that the proposal “sounds like Big Brother thought control which would be a bureaucratic nightmare to enforce.”Martin added, “All beliefs which challenge the status quo are contentious. Newton’s law of gravity and Einstein’s theory of relativity were contentious at one point. Or Alexander Fleming creating the biggest-ever advance in medicine from mould.” “Humanity has progressed through these challenges and their subsequent debate,” he further emphasised, adding that “The cancellation of ideas is, in effect, a new religious commandment by those who think they’re not religious.” Nigel Farage, the leader of Reform UK remarked “Every pub is a parliament. It is where we discuss the world. If that is restricted they might as well all close.”

“Trump himself had privately urged him to accept the post. Should he do so, he may not be able to work with Musk at DOGE.”

• Sen. Ramaswamy? Vivek Emerges As Dark Horse Successor To Vance (JTN)

Former Republican presidential candidate Vivek Ramaswamy disappeared from social media in recent weeks, amid reports that he could fill Vice President-elect JD Vance’s Senate seat. The reports come as something of a reversal as he previously removed himself from consideration for the post after Trump put him in charge of a planned new department. Originally named the co-chair of President-elect Donald Trump’s Department of Government Efficiency (DOGE), Ramaswamy was set to prioritize sweeping cuts to government spending alongside co-chair Elon Musk. The pair spoke boldly about finding $2 trillion in waste to help the country balance the budget and drastically reduce the size of the federal government. But Ramaswamy fell off the grid in the wake of a contentious and public debate between incoming Trump administration figures over the H-1B visa program.

Ramaswamy’s defense of the program and comments about the way Americans raised their children drew intense backlash from the MAGA wing of the Republican Party and led to pronouncements that he had killed his political future. But mounting reports suggest that he may find a viable escape route through the upper chamber and that Trump himself had privately urged him to accept the post. Should he do so, he may not be able to work with Musk at DOGE. Politico reported this week that Ramaswamy had met with Gov. Mike DeWine, R-Ohio, to discuss the prospect of him replacing Vance. The Ohio-based Republican is one of the state’s most high-profile politicians not currently in office and has attracted speculation over a possible gubernatorial run as well.

Ramaswamy gained traction in the Republican primary, however, primarily as an advocate for reforming American foreign policy in favor of a more reserved approach. During that contest, he regularly traded barbs with former U.N. Ambassador Nikki Haley and railed against the party’s neoconservative wing. He also developed a reputation as conservative firebrand on an array of domestic issues. DeWine, for his part, is widely regarded as a moderate and establishment Republican, making Ramaswamy an unexpected choice to succeed Vance. But the prospect of a Ramaswamy gubernatorial campaign evidently has the governor mulling a Senate appointment, to clear the way for Lt. Gov. Jon Husted, R-Ohio, to take over DeWine’s post. “DeWine isn’t incentivized to pick Ramaswamy for Senate, but Vivek is also the one roadblock to Husted,” one source told Politico.

Trump has not discussed the matter publicly but has reportedly encouraged Ramaswamy behind closed doors to accept the position, largely due to a consensus among Musk, the president-elect, and Ramaswamy himself that DOGE will need a stalwart advocate in the Senate. Ramaswamy would also fill a void left by Vance as a stalwart voice against hawkish interventionism amid the largely neoconservative upper chamber GOP. While an appointment from the governor would not put Ramaswamy before the state’s electorate for two years, his arrival in the Senate may not be well-received by some members of the chamber or Trump’s base. The tech mogul’s campaign saw him spar repeatedly with the establishment GOP, going so far as to use his opening remarks in a primary debate to call on then-RNC Chairwoman Ronna McDaniel to step down.

Should he emulate Vance on foreign policy, moreover, he is likely to become a thorn in the side of hawkish leadership like his predecessor. His comments on the H-1B debate, moreover, are likely to make him less than palatable to some immigration hawks and MAGA stalwarts. Ramaswamy weighed in weeks ago in support of the visa program, contending that employers needed to look abroad for qualified manpower due to an American culture that he said valued “mediocrity over excellence.”

“Our American culture has venerated mediocrity over excellence for way too long (at least since the 90s and likely longer),” Ramaswamy said. “A culture that celebrates the prom queen over the math olympiad champ, or the jock over the valedictorian, will not produce the best engineers.” Ramaswamy’s initial X post was widely shared online and attracted tens of thousands of comments, largely negative, and accusing him of solely looking to defend the importation of cheap labor. Trump himself spoke in defense of the H-1B visa, calling it a “great program,” but his own remarks have not quelled the anger of his base over Ramaswamy’s comments.

He did well.

• Pete Hegseth Confirmation Vote Expected After Inauguration (JTN)

Senate Armed Services Chairman Roger Wicker on Thursday said the final vote to confirm Defense Secretary nominee Pete Hegseth will likely take place in the days following President-elect Donald Trump’s inauguration. The senate committee held its hearing on Hegseth on Tuesday, where he clashed with Democrats, and denied allegations of sexual assault, alcohol abuse, and financial mismanagement. But Republicans appeared to rally around the conservative, including Iowa Sen. Joni Ernst, who endorsed the nominee following the hearing. Wicker did not specify what day the vote would take place, but said it could be as late as next Thursday if Senate Democrats do not allow the chamber to speed up the confirmation process.

“I expect our Democratic friends will delay it to the extent to which they are free to do under the rules. Wednesday, Thursday perhaps,” Wicker told reporters, per Politico. “This is not something that needs to drag out. He’s got the votes.” Senate Democrats have not stated whether they intend to delay the vote, which would leave the Pentagon without a confirmed leader, but the committee’s ranking member Jack Reed said the chamber needs more information before voting. “We’ve made it clear we feel that there’s more information that should be provided, and not just for our benefit, but for our Republican colleagues too,” he said.

If the confirmation is delayed, it is not clear who would fill in for Hegseth after Defense Secretary Lloyd Austin leaves office. But the move is not unprecedented, as President Joe Biden had to wait two days after his inauguration for the Senate to confirm Austin in 2021. The potential delay also comes after Republicans insisted that Trump’s national security team should be confirmed as quickly as possible, citing recent national security concerns, including a terror attack in New Orleans.

The industry’s imploding through woke and DEI. Maybe not a bad idea to try and save it.

• Trump Names Three Legendary Actors As ‘Special Envoys’ To Hollywood (RT)

US President-elect Donald Trump has named movie icons Jon Voight, Mel Gibson, and Sylvester Stallone as his “special ambassadors” to Hollywood, a position apparently invented by the incoming president on Thursday. ”It is my honor to announce Jon Voight, Mel Gibson, and Sylvester Stallone, to be Special Ambassadors to a great but very troubled place, Hollywood, California,” Trump wrote on his Truth Social platform on Thursday. “They will serve as Special Envoys to me for the purpose of bringing Hollywood, which has lost much business over the last four years to Foreign Countries, BACK—BIGGER, BETTER, AND STRONGER THAN EVER BEFORE!” he continued, adding that the three men will serve as his “eyes and ears” inside the film industry.

It is unclear what the position, which has never existed before, will entail. However, all three actors are outspoken supporters of Trump, making them rarities in a Democrat-dominated industry. Voight was a vocal supporter of Trump during the latter’s first term in office, and received a National Medal of Arts from then-President Trump in 2019. Gibson came out in support of Trump before November’s election, describing his rival, Vice President Kamala Harris, as someone with “the IQ of a fence post.” Stallone spoke at Trump’s Mar-a-Lago estate after the election, praising the Republican as “a really mythical character” and “the second George Washington.”

Hollywood has been mired in a downturn since the Covid-19 pandemic, with competition from foreign countries and streaming services chipping away at profits and forcing multiple studios – including Disney, Warner Bros Discovery, Paramount, and NBCUniversal – to announce layoffs over the last year. The number of US productions during the second quarter of 2024 was down 40% on the same period in 2022, and fell another 5% in the third quarter of last year, according to figures from ProdPro and Film LA. The US box office take fell to $8.7 billion last year, a 3.3% drop in 2023 and a 23.5% drop from 2019, according to Variety.

“Weapon, crime scene, victim, killer, motive – all have been faked.”

• The British Attack On The Skripals Didn’t Kill Them (Helmer)

The war to destroy Russia has been an evil in which the British, Americans, Germans and French have combined for more than a century now. In the present stage on the Ukrainian battlefield, every weapon and force fielded by the Anglo-Americans and their allies has been defeated; the Ukraine itself, territorially and politically, has been destroyed. No serious Russian believes this war will be over when the incoming US president claims the personal credit for negotiating end-of-war terms short of the US side’s capitulation. About men like him and negotiations like his, it was the Irishman Edmund Burke who in his 1770 essay “Thoughts on the Present Discontents” issued this warning: “When bad men combine, the good must associate; else they will fall, one by one, an unpitied sacrifice in a contemptible struggle.”*

In the present war against Russia, the bad men have combined across the Atlantic and the Pacific. Against them on the information war front, there are very few good men – not one in the mainstream media, almost none in the alternative media. The power of state repression is only half the reason. The other half is the competition for money. In competing for internet media subscribers, even those tempted to be good will be motivated not to associate, to compete against each other instead, and thereby “fall, one by one in the contemptible struggle.” In propaganda war, the bad men must convince their paymasters more than their audience that they are winning. Reaching this point today has required a series of confidence-building, warmaking preparations – the putsch in Kiev of February 2014; the shoot-down of Malaysia Airlines Flight MH17 in eastern Ukraine in July 2014; and the Novichok attack on Sergei and Yulia Skripal in Salisbury, England, in March 2018.

The official narrative of Novichok, the Russian chemical warfare weapon allegedly used against the Skripals, has just reached its climax in London. A state-sponsored report will be published in a few weeks’ time. It will conclude that President Vladimir Putin had the means, opportunity and motive to kill the Skripals, and is guilty of attempted murder on English soil. But the forensic evidence which has slipped into the public record from the British intelligence and security services, the chemical warfighters at Porton Down, and the Whitehall staffs advising the prime minister proves the narrative and the indictment are false. Weapon, crime scene, victim, killer, motive – all have been faked. By the Anglo-American and Canadian law standards of reasonable doubt and balance of probabilities, the prosecution of the case against Russia should have collapsed. Except, of course, that in the present state of war, this hasn’t happened.

The new book, Long Live Novichok! The British poison which fooled the worldis the lone voice to explain for the time being at least; it is also the only platform to defend Sergei and Yulia Skripal as political prisoners of the British for the past seven years. Because they didn’t die after they had been sprayed with a British poison, they have been kept in hospital under forced sedation and tracheostomy; then held under guard, in isolation, incommunicado. Their telephone calls to family in Russia, made in a hurry and in secret, stopped five years ago. For the first time the book documents the British presentation in public of the poison weapon itself, revealing the clue of the colour of Novichok. This is the evidence that the murder weapon wasn’t Russian, it wasn’t Novichok at all. In today’s podcast from Canada, Chris Cook and I discuss the reasons for the failure of Novichok to kill anyone, and its success at brainwashing everyone, or almost everyone.

Gorilla Radio with Chris Cook, Jeremy Kuzmarov, John Helmer January 15, 2025 by Chris Cook

Jeremy Kuzmarov and counting down to The Donald’s return; John Helmer and spitting out the red, white, and blue Skripal pills in the second half.

Read on Substack

MAHA

RFK Jr. has sparked a powerful shift in the national conversation. He’s compelled the country to confront the realities of our health and has challenged the entrenched establishment that perpetuates illness. The impact of his efforts is unfolding before our eyes. pic.twitter.com/F0nnOObDDn

— MAHA Alliance (@MAHAalliance) January 15, 2025

Aaron Rodgers hopes senators challenge RFK Jr. at his confirmation.

“I wanna watch his confirmation hearing and just see who tries to f*** with him.”

“Please, somebody try and get after him and just watch him absolutely mop the floor with any of these senators.”

“If you spend… pic.twitter.com/7sHOxnrtfD

— End Tribalism in Politics (@EndTribalism) January 17, 2025

Freeman

Morgan Freeman: What Elon Musk has done, nobody else has ever done.

“I'm a huge fan of Elon Musk.I think he's got the most incredibly forward-thinking ideas about where we can go technologically.

What he's done, nobody else has ever done. He's landed a rocket ship, so it's… pic.twitter.com/6FR7dJQZo8

— ELON CLIPS (@ElonClipsX) January 16, 2025

Nap time

Nap time! 😴 pic.twitter.com/DrjfnTc57N

— why you should have an animal (@HaveAnimalAi) January 15, 2025

Stray

This beautiful stray dog carries a stray kitten outside the highway so vehicles don't hurt him. Empathy & kindness are gifts granted to any good soul. pic.twitter.com/6pghmh46gr

— Hakan Kapucu (@1hakankapucu) January 15, 2025

Pastor

ALERT: Pastor Brandon Biggs: A Chilling Warning for Trump's Safety

Pastor Brandon Biggs, the man who stunned the world with his astonishingly accurate prediction of the assassination attempt on Donald Trump’s life, is raising alarms again.

Months before it happened, Biggs not… pic.twitter.com/WUCQVr5yhL

— Jim Ferguson (@JimFergusonUK) January 16, 2025

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

Debt Rattle Quatorze Juillet 2023

Jul 142023

July 14, 2023 Posted by Raúl Ilargi Meijer at 8:55 am Finance Tagged with: corruption, Erdogan, F-16, Hollywood, IMF, NATO, Twitter Files, Wagner 57 Responses »

Pablo Picasso Femme nue couchée (Marie-Thérèse Walter) 1932

• NATO Ultimatum To Ukraine – Win By Winter Or Die (Helmer)

• Putin ‘Already Lost’ War In Ukraine, Biden Says (Hill)

• NATO Suffering Delusions Of Grandeur – Lavrov

• Russia Will Treat F-16s In Ukraine As Nuclear Threat – Lavrov (RT)

• Putin: Ukraine in NATO Will Create Security Threat for Russia (Sp.)

• NATO Summit Serves Up Cringe Nothing-Burger (Scott Ritter)

• NATO Can’t Exist Without An Enemy – Moscow (RT)

• Wagner PMC Formally Doesn’t Exist – Putin (TASS)

• Biden Offered Erdogan IMF Support To Ratify Sweden NATO Bid – Hersh (RT)

• US to Supply ‘Significant Military Equipment’ Soon – Greek PM (Sp.)

• Rampant Corruption Is One Reason Behind Ukraine’s Failed NATO Bid (RMX)

• How The End Of The US Dollar’s Global Dominance Will Play Out (Salikhov)

• New Twitter Files Contradict FBI Director’s Testimony (Turley)

• Drugs Discovered Three Times At White House Since 2022 (JTN)

• Hollywood Grinds To A Halt As Actors And Writers Go On Strike Together (ZH)

RFK TNI

Robert F. Kennedy Jr on What He Learned Through His Litigation Against the 'Trusted News Initiative'

"The legacy media which traditionally was functioning as guardians of the First Amendment…They've now become the opposite. They've become propagandists for the powerful and… pic.twitter.com/jclCmyIHFt

— Chief Nerd (@TheChiefNerd) July 12, 2023

Biden quietly sends 3,000 active US troops to Europe. Ukraine?!

Macgregor

BREAKING REPORT: Col. Douglas Macgregor drops bomb, reveals Washington worked with the CIA to execute a COUP in 2014 to overthrow and install a new Ukrainian government beholden to the United States..

PAYING ATTENTION NOW.. pic.twitter.com/7M8ZmiwUEI

— Chuck Callesto (@ChuckCallesto) July 13, 2023

Caviezel

MILLIONS OF CHILDREN ARE TRAFFICKED EVERY YEAR YET HOLLYWOOD DESPERATELY TRIED TO BLOCK THIS FROM THEATERS! Jim Caviezel's Message From The End of Sound of Freedom is EXTREMELY POWERFUL. No Other Way You Can Spend the Next 2 Minutes is More Important Than This! pic.twitter.com/gOlVdpxGHS

— Matt Wallace (@MattWallace888) July 13, 2023

Agenda 21

pic.twitter.com/6UsaHkUmPX

— illuminatibot (@iluminatibot) July 14, 2023

EP WHO

The fight back against globalism has begun. #WHO #WEF2030Agenda pic.twitter.com/3JzaqPoR8I

— Jim Ferguson (@JimFergusonUK) July 13, 2023

“Whatever is achieved by the end of this year will be the baseline for negotiation..”

• NATO Ultimatum To Ukraine – Win By Winter Or Die (Helmer)

For all its public talk, NATO has agreed on a secret six-month plan for Ukraine. It’s a case of do or die by December. Either the Ukrainian forces, firing everything the NATO allies can give them — from US cluster munitions to Franco-English Storm Shadow missiles and German Leopard tanks — will gain territory and advantage over the Russians; or else the Kiev regime will be destroyed and must fall back on Lvov while NATO beats its own retreat westward from the Polish and Romanian borders — its military capabilities defeated but its Article Five intact. This is hardly a secret. “Whatever is achieved by the end of this year will be the baseline for negotiation”, the Czech President Petr Pavel, former Czech and NATO army general, announced on the first day of the summit meetings in Vilnius. There is no more than a six-month window of opportunity, Pavel added, which will “more or less close by the end of this year”. After that, “we will see another decline of willingness to massively support Ukraine with more weapons.”

The difference between the Czech’s “more or less” was explained to Ukrainian President Vladimir Zelensky by Henry Kissinger on the telephone. But the telephone was rigged, and Kissinger was talking instead to the Stavka in Moscow, in the guise of the pranksters Vovan and Lexus. After justifying himself at length for initially opposing NATO membership of the Ukraine, and then mispronouncing the word “anomalous”, Kissinger acknowledged there is a problem for the Biden Administration to combat European government opposition to NATO membership for the Ukraine. The Ukrainians must fight against that, too, he implied. So long as the US is backing Zelensky, it is necessary for the Ukrainian offensive to demonstrate small territorial advantages; abandon more ambitious ones (like Crimea); and only then agree to ceasefire talks. Although Kissinger told Zelensky he had been speaking with US “military people”, he gave no hint that they had warned him the Ukrainians are facing defeat on the battlefield, and the loss of both territory and European support.

The Russian General Staff calculation is different. At the current rate of battlefield casualties – announced by the Defense Ministry counting conservatively — by December 31 the Ukrainian army will lose between 75,000 and 100,000 dead, and up to 300,000 wounded and out of combat. In parallel, the destruction of NATO weapons will accelerate faster than the NATO states can resupply and deliver them, or replacement parts to keep the surviving stock going at the front. By the time Russia’s General Winter takes control of the battlefield, there will be too few Ukrainian fighting men left, and insufficient weapons and ammunition, to resist the start of the Russian offensive. A demilitarized zone of mines and cluster bomblets will have taken shape over several hundred kilometres west of the surrendering Odessa, Nikolaev, and Kharkov; they will abandon Kiev when Kiev abandons them.

The Russian target then will be to drive what remains of the Ukrainian regime, its flags, tattoos, money, and stay-behind terrorism plans, into an enclave around Lvov. The NATO window, as General Pavel called it, will have been opened, but then will be closed to keep NATO itself from catching cold. One of the unreported outcomes of the Wagner mutiny, and of the June 29 meeting in Moscow between President Vladimir Putin and Yevgeny Prigozhin, is Putin’s commitment to fight for nothing short of the Ukraine’s rout to Lvov, and the NATO retreat westward in the footsteps of the Grande Armée and the Wehrmacht. This too is incomprehensible at NATO headquarters.

How are they going to walk this back in a few months’ time? Blame Zelensky?

• Putin ‘Already Lost’ War In Ukraine, Biden Says (Hill)

President Biden said Thursday there is “no possibility” of Russian President Vladimir Putin winning the war in Ukraine while adding he’s “already lost” the conflict as Biden capped a trip to Lithuania and Finland as a show of strength against Russian aggression. Biden, in a joint press conference with Finnish President Sauli Niinistö, was asked whether his assurance that Ukraine will be able to join the NATO alliance once its war with Russia ends might encourage Putin to drag out the conflict. Biden noted no country can join NATO while in the middle of a war, because it would drag the entire alliance into conflict — a stance Biden and his administration have been stressing this week as Ukrainian President Volodymyr Zelensky criticized the alliance’s resistance to fast-tracking its membership.

“The issue of whether or not this is going to keep Putin from continuing to fight, the answer is Putin’s already lost the war,” Biden continued. “Putin has a real problem. How does he move from here? What does he do?” “And so, the idea that there’s going to be what vehicle is used, he could end the war tomorrow. He could just say, ‘I’m out,’” Biden added. “But what agreement is ultimately reached depends on Putin and what he decides to do. But there is no possibility of him winning the war in Ukraine. He’s already lost that war.” Russia invaded Ukraine in February 2022, and the fighting has dragged on in the 17 months since with no end in sight. The U.S. and its allies have provided billions of dollars in support for Ukraine to defend itself.

Biden has previously argued Putin will not be able to win the war in Ukraine because the Ukrainians have put up a staunch defense in response to the Russian invasion, and his aggression has galvanized the NATO alliance. The president this week attended a NATO Summit in Lithuania, where continued support for Ukraine was at the top of the agenda. The U.S. and its Group of Seven allies announced plans Wednesday for security negotations with Ukraine to ensure it had the military support it needed in the short-term and in the future to defer further Russian aggression.

“..apparently, we are not even allowed now to have a relationship [with China], or so they wish.”

• NATO Suffering Delusions Of Grandeur – Lavrov

The US and its allies are targeting Russia and China because of their strong relationship, Russian Foreign Minister Sergey Lavrov has claimed, citing the final communique from this week’s NATO summit in Lithuania. The NATO document stated that “the deepening strategic partnership between [China] and Russia and their mutually reinforcing attempts to undercut the rules-based international order run counter to our values and interests.” Commenting on Thursday during a trip to Indonesia, Lavrov said that “apparently, we are not even allowed now to have a relationship [with China], or so they wish.” The diplomat noted that the US had previously limited itself to referring to Russia and China as its “rivals.”

The NATO statement further justifies Russia’s efforts to oppose “modern forms of colonialism” and to advocate international relations based on respect, Lavrov insisted. “People in NATO are obviously not prepared for [the same approach]. Delusion of grandeur is expressed in all actions of the NATO leadership, as well as member states, frankly speaking. Everybody sees that,” the Russian minister claimed. Lavrov accused the West of attempting to preserve its hegemony and dress it up as a “rules-based order,” but predicted that multipolarity would ultimately prevail. He also alleged that NATO’s appetite for spreading its influence globally was causing destabilization outside of the North Atlantic region.

“They already have plans to build up NATO military infrastructure in the [Asia-Pacific] region, including in the nations that were invited to the summit in Vilnius… I mean Australia, New Zealand, Japan, [South] Korea,” said the minister. Canberra violated its own commitment to keep the Pacific free from nuclear weapons when it agreed to host “elements of infrastructure” related to nuclear arms under the AUKUS arrangement, Lavrov argued. Tokyo and Seoul “have been signaling that they would not oppose stationing American nuclear weapons or obtaining some of their own,” he added. The Russian foreign minister was speaking in Indonesia after a summit with ASEAN, a regional integration bloc. He claimed the US was pushing for the Southeast Asian organization to be replaced by structures under Washington’s control, so that it could undermine China.

“The very fact of the appearance of such systems within the Ukrainian Armed Forces will be considered by us as a threat from the West in the nuclear domain..”

• Russia Will Treat F-16s In Ukraine As Nuclear Threat – Lavrov (RT)

Moscow can’t ignore the nuclear capability of US-designed F-16 fighter jets that may be supplied to Ukraine by its Western backers, Russian Foreign Minister Sergey Lavrov has said. By continuing to provide more sophisticated arms to Kiev, “the US and its NATO satellites create the risk of a direct armed confrontation with Russia, and this may lead to catastrophic consequences,” Lavrov warned in his interview with Lenta.ru on Wednesday. The plans to supply F-16s to Kiev is yet another example of an escalatory move by the West and in itself is “an extremely dangerous development,” he stated. “We have informed the nuclear powers – the US, UK and France – that Russia can’t ignore the ability of these aircraft to carry nuclear weapons,” the foreign minister continued.

“No assurances [by the West] will help here,” he warned. In the midst of fighting, the Russian military isn’t going to investigate whether any specific jet is equipped to deliver nuclear weapons or not, he added. “The very fact of the appearance of such systems within the Ukrainian Armed Forces will be considered by us as a threat from the West in the nuclear domain,” Lavrov said. In an interview on the sidelines of the NATO summit in Vilnius on Wednesday, White House National Security Advisor Jake Sullivan said “there will be the transfer of F-16s [to Ukraine], likely from European countries that have excess F-16 supplies.” A day earlier, Denmark announced that a “coalition” – which includes the Netherlands, Belgium, Canada, Luxembourg, Norway, Poland, Portugal, Romania, the UK and Sweden – would begin training Ukrainian airmen to fly the US-designed aircraft in August.

Ukrainian Foreign Minister Dmitry Kuleba suggested earlier this week that the first F-16s piloted by Ukrainians could take to the skies“by the end of the first quarter of next year.” Kiev has been pressing its foreign backers for fourth-generation F-16 warplanes for months, arguing that they are crucial in providing air cover for Ukraine’s troops and defending Ukrainian airspace amid a massive Russian missile campaign targeting military facilities and energy infrastructure. The US and its allies initially ruled out deliveries of the jets, saying the F-16 wasn’t the type of hardware that Ukraine needed, but changed their stance on the issue over time. In June, Russian President Vladimir Putin said there was no doubt that the F-16s “will burn”once they’re delivered to Ukraine, just like what has happened to tanks and other Western-supplied weapons.

“I am sure that this will not increase the security of Ukraine itself..”

• Putin: Ukraine in NATO Will Create Security Threat for Russia (Sp.)

In early June, Zelensky said that Kiev hoped to receive a clear invitation to join the bloc at the Vilnius summit. He also said Kiev was disappointed that it had not yet received a clear positive response about joining both the European Union and NATO. Ukraine’s possible membership in NATO will create a security threat for Russia and will not increase security of Ukraine itself, Russian President Vladimir Putin said on Thursday. “As for Ukraine’s membership in NATO, we have repeatedly spoken about this, this creates threats to Russia’s security. Obviously. And as a matter of fact, the reason for the special military operation, one of the reasons, is the threat of Ukraine’s entry into NATO. I am sure that this will not increase the security of Ukraine itself,” Putin said.

Speaking about Western missiles and tanks supplied to Ukraine, Vladimir Putin noted that they ause damage but do not pose a critical threat in the combat zone. “As for the supply of weapons, various weapons, we see how many hopes were placed on the supply of missiles with a sufficiently long range. Well, yes, they cause damage, but nothing critical happens in the combat zone with the use of missiles. The same goes for foreign-made tanks, infantry fighting vehicles,” Putin said on air of the Rossiya 24 broadcaster. The president added that 311 pieces of military equipment used by Ukraine has been destroyed since June 4, and at least one third of those were Western-made. “I can tell you that Ukrainian servicemen often refuse to even get into these tanks, because they are a priority target for our guys,” Putin said, adding that foreign tanks “burn better” than the Soviet-made ones.

“Zelensky confronted his erstwhile allies with the harsh reality that not only would the conflict with Russia not be ending any time soon, but also the growing realization that, when it did end, it would be as a decisive Russian military victory.”

• NATO Summit Serves Up Cringe Nothing-Burger (Scott Ritter)

The Vilnius Summit was intended to showcase the alliance’s unity and resolve in the face of the challenges presented by Russia and the ongoing conflict in Ukraine. There had been a great deal of discussion prior to the summit about the prospects of Ukrainian membership in NATO. It was understood by all parties that, while the conflict between Ukraine and Russia remained in an active phase, Ukrainian membership was impossible, if for no other reason that, under Article 5 of the NATO charter, NATO would immediately find itself in a war with Russia which had a good chance of going nuclear. The working premise going into the Vilnius Summit was that NATO would empower Ukraine to carry out a massive counteroffensive designed to break through the Russian defenses and drive to the Sea of Azov, thereby severing the land bridge between Crimea and Russia, forcing Russia to negotiate an end to the conflict.

At that juncture, having “frozen” the conflict on terms that would be unfavorable to Russia, NATO would extend an invitation to Ukraine for membership, thereby shrouding Ukraine’s gains with Article 5 protections while effectively checking any future Russian offensive operations. In the weeks leading up to the summit, Ukraine was desperately trying to do its part, throwing its newly constituted NATO-trained and equipped assault brigades at prepared Russian defenses in actions which made the infamous “Charge of the Light Brigade” seem like the epitome of military planning and execution by comparison. With much of its NATO-provided weaponry, including the much-touted Leopard tanks and Bradley infantry fighting vehicles, destroyed or damaged without ever reaching the main Russian defensive positions, and some 20,000 Ukrainian casualties, the Ukrainian counteroffensive fizzled out.

Instead of presenting his NATO partners with a decisive Ukrainian victory, Zelensky confronted his erstwhile allies with the harsh reality that not only would the conflict with Russia not be ending any time soon, but also the growing realization that, when it did end, it would be as a decisive Russian military victory. Confronted with this reality, NATO sought to soften expectations about Ukrainian membership. Rather than provide Ukraine with a concrete road map to membership, NATO declared that it would extend an invitation to Ukraine when “conditions are met”, one of which is that the conflict with Russia must be over. NATO offered up as a consolation prize the establishment of a NATO-Ukraine Council “to advance political dialogue, engagement, cooperation, and Ukraine’s Euro-Atlantic aspirations for membership in NATO,” and promised to “continue our support for as long as it takes.”

Scott Ritter

According to Scott Ritter, Russia is on the verge of a strategic military victory by the end of this summer and NATO and the US are aware of their inability to supply Ukraine with enough munitions and equipment to keep them competitive on the battlefield. pic.twitter.com/uAs7vZfu1g

— Highlights (@highlightsnews1) July 13, 2023

“..catastrophic consequences for European security, Ukraine, and the alliance itself.”

• NATO Can’t Exist Without An Enemy – Moscow (RT)

NATO needs enemies so it could justify its existence, Russian Deputy Foreign Minister Aleksandr Grushko said on Thursday, reflecting on the Western bloc’s recent meeting in neighboring Lithuania. “Expansion is one of the instruments used by NATO countries to maintain confrontation,” Grushko told Russia’s Channel One. “Therefore, unfortunately, history has forced us to conclude that NATO cannot exist without an adversary. Otherwise, it would lose all meaning.” Grushko stressed that the admission of Ukraine into the US-led bloc would have “catastrophic consequences for European security, Ukraine, and the alliance itself.” At the same time, Western countries use the prospect of NATO membership as a way to control Ukraine’s domestic politics, the diplomat argued.

Although NATO has refused to grant an immediate membership or a concrete accession timetable to Kiev, the bloc’s members affirmed at the summit in Vilnius on Tuesday that the country would be invited to join in the future. NATO Secretary General Jens Stoltenberg said that Ukraine was “closer to NATO than ever before.” Russia considers NATO’s expansion eastward a threat to its own national security, and has warned that the delivery of heavy weapons and other military aid to Ukraine makes the alliance a de facto participant in the conflict. Western countries insist that NATO is a strictly defensive alliance and claims that it poses no threat to Russia.

“..there is no such legal entity.””The [Wagner] Group exists, but it is judicially non-existent..”

• Wagner PMC Formally Doesn’t Exist – Putin (TASS)

Legalizing private military companies is a complicated issue that should be handled by the government and the parliament, because formally companies such as Wagner PMC are non-existent in Russia at this point, Russian President Vladimir Putin was quoted as saying. Kommersant’s special correspondent Andrey Kolesnikov quoted the Russian president as saying in response to a question about the organization’s future that, from the point of view of the Russian legislation, “Wagner PMC does not exist.” The president explained that Russia has no law on private military companies and, therefore, “there is no such legal entity.””The [Wagner] Group exists, but it is judicially non-existent,” the report quotes Putin as saying.

“The formal legalization is a separate issue that should be addressed by the State Duma [the lower chamber of the Russian parliament] and the government. It’s a complicated issue.” The president believes that the Wagner Group controversy “is very simple and clear for [members of] the Russian society.” “Wagner’s ordinary members were fighting with dignity… so it is very regrettable that they became embroiled into these events,” Putin added. On Thursday, the Russian president took part in the plenary session of the Future Technologies Forum. After the event was over, he had a conversation with Russian journalists. Excerpts of the talk, where the issue of Ukraine, NATO and the grain deal were raised, were published by the Kremlin website and aired by the Rosssiya-24 television channel.

Erdogan is in big financial trouble.

• Biden Offered Erdogan IMF Support To Ratify Sweden NATO Bid – Hersh (RT)

Pulitzer Prize-winning journalist Seymour Hersh claimed on Thursday that US President Joe Biden offered his Turkish counterpart Recep Tayyip Erdogan more than $11 billion in IMF assistance to ratify Sweden’s bid to join the NATO bloc. In an article posted to his Substack account, Hersh wrote that he had been informed by an anonymous source that “Biden promised that a much-needed $11-13 billion line of credit” would be established for Türkiye by the International Monetary Fund (IMF). This was to be in return, Hersh suggested, for Erdogan removing Ankara’s objection to Stockholm joining the US-led military bloc ahead of the NATO summit that took place this week in Lithuania.

Erdogan, who was re-elected as Turkish leader in late May, is currently facing the mammoth task of replacing or repairing hundreds of thousands of buildings damaged or destroyed in February’s earthquakes in which at least 50,000 lost their lives. Türkiye had previously opposed Sweden’s accession to the bloc, largely due to Ankara’s stance that Stockholm has harbored militants from the Kurdistan Workers’ Party (PKK) which was involved in an armed conflict with the Turkish state in the 1980s. The PKK has been designated a terrorist organization by Türkiye, Sweden, Europe and the United States. “What could be better for Erdogan,” Hersh wrote of the American and Turkish presidents’ alleged arrangement, quoting an official familiar with it, than him “finally having seen the light and realizing he is better off with NATO and Western Europe?”

The report also referenced a June financial analysis of Ankara’s coffers by the independent think tank Council on Foreign Relations, which cast a dire economic outlook for Erdogan to navigate in the early stages of his latest term as leader. It said that Türkiye stands on the precipice of an “imminent financial crisis” and if facing a choice “between selling its gold, an avoidable default, or swallowing the bitter pill of a complete policy reversal and possibly an IMF program.” Hersh, 86, generated headlines earlier this year when he claimed he had been informed –also by an anonymous source– that the United States was responsible for last year’s explosions that neutered the Nord Stream natural gas pipelines that supply energy from Russia to Europe. Washington dismissed the claims as “complete fiction.”

To balance out the support for Turkey…

• US to Supply ‘Significant Military Equipment’ Soon – Greek PM (Sp.)

The United States will soon provide Greece with “significant military equipment” for free, announced Greek Prime Minister Kyriakos Mitsotakis. “I mean not only the approval of [the delivery of] F-35 [fighter jets], which is very important, but also the possibility of getting surplus [military] equipment, significant surplus equipment that will be given to us for free. That is what the US is doing and has every reason to do it to a greater extent for a good ally like Greece,” Mitsotakis said in an interview with Greek broadcaster while expressing hope that F-35s would be delivered in 2028. The prime minister noted that Athens was engaged in talks with Washington, having signed “a very strong defense agreement for five years,” adding that he believed Greece hopes for support “regardless of what happens in the negotiations with Turkiye.”

Mitsotakis also said that the construction of French-made Belharra-class frigates for Greece was ahead of schedule, adding that the first frigate would be delivered in September. He noted that Athens are aimed at having “a very strong deterrence capacity,” adding that he believed Greece “has been able to achieve that at a rapid pace.” In 2019 and 2021, Washington and Athens amended the Mutual Defense Cooperation Agreement, which allowed the US to establish new military bases on the territory of Greece and expanded the term of the agreement from one to five years. Until 2019, the US had only one military base in Greece but now has nine. The US was granted access to the port of Alexandroupolis in the north of the country, which is used for the delivery of military equipment to Eastern Europe and Ukraine. Mitsotakis then said that the amended agreement made Greece Washington’s main partner in the region.

Greece is implementing 19 arms procurement programs worth 11.5 billion euros ($12.9 billion). Among them are the purchase of 24 French-made Rafale fighter aircraft, Belharra-class frigates and the modernization of 83 F-16 Block 52+ and 52+ Advanced fighters to the Viper variant — the most advanced variant of F-16. The Greek air force already received two F-16 Viper fighters in September 2022. Moreover, Athens is planning to purchase over 20 F-35 fifth-generation fighters.

Ukraine has never been more corrupt. The enormous influx of money and weapons systems guarantees it.

• Rampant Corruption Is One Reason Behind Ukraine’s Failed NATO Bid (RMX)

Ukraine must implement reforms to fight corruption and strengthen its institutions if it wants to be eligible to join NATO, said Ursula von der Leyen, president of the European Commission, during the second day of the NATO summit in Vilnius. Von der Leyen encouraged Ukraine to implement further reforms and pledged the support of the European Union. According to Hungarian newspaper Magyar Nemzet, von der Leyen’s statement “said in plain language that there was still so much corruption and opacity in Ukraine’s institutions that it could not yet get the green light to join NATO or the European Union.” However, the paper also noted that von der Leyen noted the country’s efforts were appreciated and it had made a lot of progress.

The European Commission already identified systemic corruption in Ukraine in 2021. Although the EU had launched a number of initiatives to reduce the potential for corruption and proposed a wide range of measures, the EU commission’s report at the time found that no progress had been made on this issue in 2021. At that time, there was a significant decline in the judiciary, and anti-corruption institutions were also under threat, according to the report. The authors also noted that oligarchs and vested interests are the biggest problem, as they are an obstacle to the rule of law and economic development in Ukraine.

Brussels is keen to bring Ukraine into the European Union. However, even EU officials do not dare mention in their reports anything concrete or substantial to suggest that Ukraine is ready for integration, and Von der Leyen’s remarks indicate that the situation has still not improved. As Remix News reported last week, the Federation of Employers of Ukraine, representing Ukrainian entrepreneurs, issued an appeal to President Volodymyr Zelensky, demanding action to curb the abuse of power by government officials. The abuse of power by military officials and judges has crossed all lines, according to Ukrainian entrepreneurs, who are calling for the establishment of a public registry to identify corrupt officials. They further argue that corruption on an unprecedented scale is eroding Ukraine’s defensive capabilities.

Anybody’s guess.

• How The End Of The US Dollar’s Global Dominance Will Play Out (Salikhov)

A more important factor than the nominal share of the US dollar in international reserves is the changing approach to the management and accumulation of foreign assets. The same IMF data shows that the total value of central bank reserves has remained virtually unchanged at $11.5-12 trillion over the past decade, even as the global economy has grown. China’s foreign exchange reserves peaked at $4 trillion in 2014 and have been declining ever since. Their current value is $3.2 trillion, down 20% from 2014. Many other developing countries are not increasing their international reserves, if not reducing them. This does not mean, however, that external assets are not being created.

They can be formed in “non-standard” forms, such as assets of sovereign wealth funds, state banks, development institutions and other structures not directly related to central banks. Foreign direct investment by government structures can also be classified as a type of reserve asset. Such a strategy is not aimed at maximising the availability and liquidity of assets, but at securing one’s own economic interests in foreign markets. To some extent, it provides greater protection against the political risks of asset freezes, as their legal status is less transparent. A similar strategy is being pursued by China, which is seeking to gradually “internationalize” its currency. Formally, the yuan’s share of central banks’ international reserves is small, amounting to no more than 3%. Moreover, between a third and a half of this demand is provided by the Bank of Russia.

China’s strategy is to secure the international status of the RMB through trade rather than investment. In recent years, China has actively sought to motivate and encourage its partners to trade in RMB rather than other currencies. This is being done in a number of ways, including infrastructure development, its own analogue of the SWIFT system, development of clearing, international lending in the currency and so on. Many people have heard of the term “petroyuan” – an analogue of the petrodollar. In essence, it is the signing of long-term contracts for the supply of oil in yuan in return for a flow of goods and equipment. So, trade is already being conducted in yuan rather than US dollars. This creates demand outside the Chinese economy. At the same time, the Chinese authorities maintain restrictions on capital transactions.

***
The de-dollarization of the global financial system will continue. This will be facilitated in particular by progress in financial technology. The development of automated trading platforms will reduce the cost of exchanging one currency for another. Central banks will seek to directly clear each other’s currencies without directly using the currencies of Western countries. In the future, central banks’ digital currencies may also be used for international transactions, reducing costs for economic agents. However, this process will be slow and we should not expect a fundamental change in the global financial system in the foreseeable future.

“..when there’s a glitch, and the accounts remain up, the FBI immediately writes back and says, what’s the deal? We just wrote to you, why is it still up?”

• New Twitter Files Contradict FBI Director’s Testimony (Turley)

Yesterday’s hearing with FBI Director Christopher Wray was another maddening experience of faux contrition and open evasion. Wray apologized for violations that have already been established by courts or Congress (often over the best efforts of the FBI). However, on ample public evidence of new violations, Wray continued to use his favorite testimonial trilogy to dismiss any questions: expressing (1) lack of knowledge, (2) ongoing investigations, and (3) promises of later answers or briefings. He did, however, hold forth in detail after Rep. Eric Swalwell asked him about FBI Family Day. Despite the near total lack of substance, Wray did make one surprising denial. He insisted that the FBI does not engage in censorship efforts, focuses only on “foreign disinformation,” and does not pressure companies to censor others.

Those denials are not only directly contradicted by the recent 155-page opinion of a federal court and the Twitter Files, but a new release from the Twitter Files and journalist Matt Taibbi. Wray said that “…The FBI is not in the business of moderating content, or causing any social media company to suppress or censor.” He then added that these companies are not under any pressure in making their own decisions whether to censor people or groups flagged by the FBI. The statement is obviously false. The FBI maintained a large operation of agents actively seeking the censorship of thousands, as discussed in my prior testimony. Taibbi, however, has released another example of how aggressive the FBI was with social media companies. In the latest Twitter Files release, there is one email exchange where Twitter “immediately” suspended accounts flagged by the FBI without investigation.

Taibbi explained: “In one shot, you can see the FBI asks to remove three accounts, that gets forwarded to Twitter, Twitter immediately suspends them, the accounts. But more importantly, when there’s a glitch, and the accounts remain up, the FBI immediately writes back and says, what’s the deal? We just wrote to you, why is it still up? So, that shows the nature of the relationship basically that it’s not really a collaboration. It’s much more like somebody reporting to an authority. … [W]hat happens in these instances in the ones that I was showing, they’re just forwarding names of accounts that they say are associated with foreign threat actors. It’s very vague. And Twitter is taking them down before they even investigate. In this case, they later determined that they couldn’t find anything connecting them to any bad actors. In fact, one of them was from Canada. And so, that’s the problem. If it’s not connected with a crime, they’re just asking to take accounts down because they don’t like the profile of them.”

”..everything they do is to move along to the next story. They know there will be another Biden crime crisis.”

• Drugs Discovered Three Times At White House Since 2022 (JTN)

Republican Rep. Lauren Boebert said after the Secret Service briefing Thursday on cocaine found July 2 at the White House that drugs have been found two other times since last year in the building. The Colorado lawmaker also confirmed that Secret Service officials said at the briefing the agency likely won’t find a suspect in connection to the cocaine discovery and that the probe will conclude Friday. “There’s a list of more than 500 individuals that they looked into their backgrounds for prior drug records or use, and nothing was determined from from their analysis,” she said. “And the Secret Service is very eager to close this within the next couple of days.”

The cocaine was reportedly found in a cubby near the White House’s West Executive entrance and weighed less than a gram. Republican Rep. Nancy Mace, who like Boebert is a member of the House Oversight Committee and attended the briefing, also confirmed with Just the News the investigation will be closed Friday without a suspect. “The cocaine caper is going to be concluded without any outcome. No suspects, no resolution,” the South Carolina lawmaker said after the briefing, “which is frustrating, because every time there’s something unsavory happening on the president, the White House’s administration, we never get an answer. And it’s just ironic and interesting and frustrating.”

Boebert said the drug found twice before in roughly the past year was marijuana and that she thinks the Secret Service closed the investigation without a suspect “because everything in this administration is about covering up for the Biden crime family.” “This is the third time that drugs have been found on the White House property since 2022, and we did not even hear about the marijuana,” she also said. “I certainly did not hear about the marijuana that was found in 2022, two times, and now there’s cocaine on the property. So everything they do is to move along to the next story. They know there will be another Biden crime crisis.”

TV vs internet.

• Hollywood Grinds To A Halt As Actors And Writers Go On Strike Together (ZH)

Actors and writers in Hollywood have staged the first joint walkout in six decades, saving the country – if not the world, from the production of crappy, woke entertainment, at least for now. The Screen Actors Guild, which represents approximately 160,000 performers, announced the strike on Thursday after failing to reach a new labor agreement with Alliance of Motion Picture & Television Producers, which represents studios including Walt Disney Co. and Netflix Inc, Bloomberg reports. The Writers Guild of America, meanwhile has been on strike since May 2, shutting down late-night TV programs like The Tonight Show, halting many projects in progress and imperiling the traditional release of new broadcast TV shows starting in September.

In a statement after the strike announcement, the studio alliance said the union “has regrettably chosen a path that will lead to financial hardship for countless thousands of people who depend on the industry.” -Boomberg According to the studios, double-digit percentage increases in salaries and higher pension and health benefits, plus a boost in residuals (the money actors and other receive when shows are rerun), weren’t enough. Also offered were protections against the use of actors’ digital likenesses. A key dispute which remains unresolved is compensation from streaming services as online video entertainment cannibalizes broadcast and cable TV.

“I cannot believe how far apart we are in so many things,” said SAG president Fran Drescher. “The entire business model has been changed by streaming. This is a moment of history. That is a moment of truth.” The move has halted work on shows such as Abbott Elementary and Netflix’s Stranger Things. if the strikes last more than a few days, the impact will be far greater than just the writer’s strike alone. Meanwhile, actors will have to stop promoting upcoming projects and refuse to attend events such as Comi-Con International which is scheduled for next week.

Obesity

8. The Rise Of Obesity In America:

You can only appreciate this epidemic by watching this video… pic.twitter.com/vgN3rEW7zK

— George Mack (@george__mack) July 13, 2023

Bison

These cars stopped for Bison Stampedes to cross the road.pic.twitter.com/MpCtt02OKi

— Epoch Animal Lovers (@EP_AnimalLovers) July 13, 2023

Moth
https://twitter.com/i/status/1679299872401268742

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

Debt Rattle January 12 2023

Jan 122023

January 12, 2023 Posted by Raúl Ilargi Meijer at 9:45 am Finance Tagged with: Biden Files, classified documents, coincidence, gas stoves, Hollywood, Soledar, Wagner, WWIII, Zelensky 112 Responses »

Heinrich Hofmann Christ and the Rich Young Man 1889

• Is Coincidence Now The Leading Cause Of Death? (Emerald)

• The City Of Soledar Has Been Liberated By The Wagner PMC (Saker)

• Wagner Comments On Ukrainian Casualties In Soledar (RT)

• Zelensky Tries To Reassure Hollywood: “There Will Be No Third World War” (ZH)

• Nothing That Our Adversaries Predicted Has Happened – Putin (RT)

• Kremlin Explains Why There Are No Peace Talks On Ukraine (RT)

• Using Ukraine as a Bloodied Pawn (Antiwar)

• Share Prices Of NATO Weapons Makers Surge (RT)

• Why Biden and Trump Are Treated Differently in Classified Document Cases (ET)

• Biden’s ‘Surprise’: Classified Documents Were Moved At Least Twice (Turley)

• Top Dems Fume As Kevin McCarthy Boots Them From Key Committee Positions (AW)

• India Won’t Support G7 Price Cap On Russian Oil – Analyst (RT)

• Italy and the EU Are on Collision Course as Economic Conditions Worsen (NC)

• Greece, Malta Lag Behind In Sanctioning Russian Assets – EU Official (RT)

• WEF Partner Behind Sudden Push to Ban Gas Stoves (GP)

Pentagon controlled Covid – Whole FDA approval process was theater.
https://twitter.com/TheChiefNerd/status/1613316088690876418

Tucker RFK jr

Robert F Kennedy Jr announces Covid censorship lawsuit pic.twitter.com/T4nUs01mkJ

— Wittgenstein (@backtolife_2023) January 11, 2023

Trust the science

When Fauci said ‘trust the science, he was in effect saying ‘trust the psychopath’ – it doesn’t take a rocket scientist to figure out why that was a very bad idea https://t.co/XVzfymIf54 pic.twitter.com/r4Phq9xOBy

— Dr Aseem Malhotra (@DrAseemMalhotra) January 11, 2023

Good video.

• Is Coincidence Now The Leading Cause Of Death? (Emerald)

Vaccinated people around the world are now dying of “sudden cardiac events” according to the latest data we have from the CDC. Just comb through the data published by the Ethical Skeptic on Twitter if you don’t believe me.

But you knew that already — if you watched what happened to NFL player Damar Hamlin. The situation was so bad that our corrupt corporate media actually pulled the arch-villain Dr. Fauci out of exile to defend the experimental COVID vaccines — thus implicating his “Wuhan baby” in Hamlin’s medical case of course. CBS News’ Major Garrett completely disgraced himself with this abject display — he might as well retire now to the Dan Rather Rest Home for Disgraced Journalists after he takes his next booster and prays to his pocket Dr. Fauci bobble-head doll. Big Pharma had already deployed its Twitter bots and its paid media shills to defend their products in the Damar Hamlin incident — only to discover that former NFL player Uche Nwaneri had died of a heart attack (aged 38) at home on the same day. That should be one coincidence too many for most people.

In fact, Damar Hamlin and Uche Nwaneri were just the tip of the iceberg. Two days later, pro surfer Marcio Freire died of a “sudden cardiac event” while surfing. (He was 47.) The next day, a 16 year-old girl died of the same thing while playing flag football at a Las Vegas school and an 18 year-old girl died of a “sudden cardiac event” while playing basketball in the Bahamas. The day after those tragic deaths, pro soccer player Modeste M’Bami died of a heart attack as well. (He was 40.) Two days later, a coach at Devine Middle School died of a heart attack in front of his students while teaching class. (He was 35.) Then a 21 year-old student at the Air Force Academy died of a “sudden cardiac event” while walking to class — and a boy at Western Brown High School in Ohio died of the same thing on the same day at his school.

It was getting hard to keep track of all these “sudden cardiac events” killing young and healthy people. Our corporate media was not keeping track of the deaths — so much as claiming that literally anything could have caused those deaths other than the experimental vaccines. You might call it Sudden Invented Syndrome Syndrome: our political elites and Big Pharma and MSM were creating new medical syndromes to cover up the biggest failed medical experiment in human history. You know it’s true. It could be Sudden Adult Death Syndrome (SADS)! It could be commodio cordis! It could be climate change! It’s all a coincidence, you understand — and you should definitely not doubt the COVID vaccines, or Big Pharma, or your doctors, or your government. This situation was captured perfectly in the best video of 2023.

Coincidence

Are You Suffering From a Medical Coincidence?

pic.twitter.com/Iy6mVYvSGO

— Chief Nerd (@TheChiefNerd) January 11, 2023

“..NATO wants to fight Russia down the the last Ukrainian while Russia does not want to fight NATO down to the last Russian…”

• The City Of Soledar Has Been Liberated By The Wagner PMC (Saker)

I do not have access to Russian plans, but I do not believe that the liberation of Soledar by itself will have a major impact for the planned “Big Offensive” the Russian forces are ready to execute. Yes, time is of the essence in warfare, but that means that, like in chess, sometimes that critical feature of time means that waiting is the correct use of that time. That being said, the liberation of Soledar will have a major effect on NATO supply lines, both on roads and railways. Again, the idea here is to transform the once unified NATO forces into smaller “chunks” unable to help each other. By all signs, this has been an extremely effective Russian tactic. Another location which NATO tried really hard to exploit is Kherson, yet all the NATO attacks failed and have now petered down to almost nothing (mostly UAV recon flight and regular artillery strikes).

Ditto for the Kharkov oblast were Ukie attacks mostly stopped. Finally, here is another important marker: the size of the NATO offensives. Remember how in the first months of the war the Ukrainian counter-attacks typically involved several brigades? Then much of what we saw were battalion-size attacks. Now most of what we see are very small, company-level, engagements. Such, engagements are futile by definition: why bother with a company-level attack which, even if fully successful you won’t be able to develop even tactically, nevermind operationally? The ONLY reason for such attacks are optics and PSYOPs. Period. The Russians won’t fight that way, because that way implies sending wave after wave after wave of bodies through into the Russian meat grinder for the sole purpose of taking a photo, making a video or claim another absolutely huge “peremoga” (all the NATO victories are huge, didn’t you know?).

Right now the KIA/MIA ratio between NATO and Russia is roughly about 10:1 and that is exactly how the Russians like it, even if they now have several hundred of thousand of soldiers in the South, East and North. Simply put, NATO wants to fight Russia down the the last Ukrainian while Russia does not want to fight NATO down to the last Russian. This is why NATO fights with bodies and Russia with (mostly) artillery shells. Conclusion: let’s not start acting like NATO and Ukie airmchair generals and declare that the liberation of Soledar is a “huge” victory. It is, however, very good news as it strongly suggests that the NATO first and second line of defense have been breached forcing NATO to regroup. Could that be the “first crack” in the NATO defenses? Maybe, maybe not, we need to see how NATO will respond before coming to conclusions.

Russian winter
https://twitter.com/i/status/1613153895638863876

“..Russian control of the town now threatens to unravel the entire Ukrainian front in Donbass..”

• Wagner Comments On Ukrainian Casualties In Soledar (RT)

Ukrainian soldiers surrounded in Soledar have either surrendered or been killed, Wagner Group founder Yevgeny Prigozhin said on Wednesday. Fighters of the private military company completely surrounded the Donbass town the day prior and are now clearing the extensive tunnel network in the salt mines underneath. “I want to repeat that Soledar has been fully liberated and cleared of Ukrainian army units,” Prigozhin said in a statement on Wednesday evening. “The Ukrainian troops that refused to surrender have been destroyed.” Prigozhin estimated that around 500 Ukrainian troops have been killed after Wagner forces closed the encirclement of Soledar. “The entire town is littered with the bodies of Ukrainian servicemen,” he said. Wagner fighters first circulated a video taken in downtown Soledar on Tuesday, as proof the town administration was under their control.

Later in the day, Prigozhin was filmed touring the salt mine tunnels as well, which he said Wagner was starting to clear as well. The tunnel network is approximately 300 kilometers (186 miles) long and reaches hundreds of meters below the ground level. Prigozhin also quashed rumors, circulating due to a meeting of Russian and Ukrainian officials in Türkiye on Wednesday, that some kind of evacuation was being arranged. “There can be no word of any humanitarian corridor,” he said, noting that all civilians have already been evacuated from the town. Soledar had around 10,000 residents before the conflict. The Ukrainian army turned it into a strongpoint after being pushed out of Popasnaya in mid-2022. Russian control of the town now threatens to unravel the entire Ukrainian front in Donbass. Ukrainian President Vladimir Zelensky had acknowledged on Sunday that the situation in Soledar was “very difficult” but vowed that Ukrainian troops would continue to hold “no matter what.”

And while -at least- 100s of his people are dying, Frankie goes to Hollywwod.

• Zelensky Tries To Reassure Hollywood: “There Will Be No Third World War” (ZH)

When we first heard that Ukrainian President Volodymyr Zelensky would make a virtual appearance at 80th annual Golden Globe Awards Tuesday night in order to update the audience and American public on the status of the conflict, we thought it was a joke. It should be remembered too that the Oscar Awards rejected efforts for a Zelensky appearance last year (though he did give an emotional speech at the Grammys last April). But like with much else connected with Zelensky and the unprecedented pandering of American institutions for a foreign leader, it was all too absurdly real. He told the audience of Hollywood A-listers that “there will be no third World War” – citing Ukraine’s momentum on the battlefield. “The war in Ukraine is not over yet, but the tide is turning and it is already clear who will win,” Zelensky said after being introduced by friend and actor Sean Penn. “There are still battles and tears ahead.”

He launched into a bit of a history lecture, akin to his December in-person Congressional speech, reminding the television viewing audience that the Golden Globe Awards first got its start during WWII, and compared the current Russian invasion to “the struggle for the right of the new generations to know about the war only from movies.” That’s when Zelensky sought to assure Americans against what’s become a legitimate overarching concern – uncontrollable escalation between the US and Russia: “The First World War claimed millions of lives. The Second World War claimed tens of millions of them. There will be no third World War. It is not a trilogy,” Zelensky said, promising that Ukraine “will stop the Russian aggression” with the help of the free world.

“The war in Ukraine is not over yet, but the tide is turning and it is already clear who will win… We will make it together with the whole free world and I hope that all of you will be with us on the victorious day the day of our victory,” Zelensky said. For anyone worried that the world is inching toward nuclear Armageddon, these words are not cause for comfort – but quite the opposite… after all, it’s 2023 and a foreign head of state just appeared at a Hollywood awards show to tell celebrities he’s not expecting World War 3 to break out. But Kiev wants to combat growing global skepticism regarding the war’s outcome, in order to keep the Western weapons pipeline flowing of course. He also just pledged “victory” over nuclear armed super power Russia, and that a Ukrainian “win” is becoming “clear”… so let that sink in.

Sean Penn introduces Ukrainian President Volodymyr Zelenskyy at the #GoldenGlobes2023 pic.twitter.com/wpF3QlryIL

— The Hollywood Reporter (@THR) January 11, 2023

“..there’s still much that needs to be done to secure Russia’s “absolutely … sovereign independent development despite all the external pressure and threats.”

• Nothing That Our Adversaries Predicted Has Happened – Putin (RT)

None of the gloomy forecasts the West made about Russia’s fate in 2022 have come to pass, Russian President Vladimir Putin told the government on Wednesday as he commented on the West’s failure to disrupt the national economy. “Nothing that our adversaries predicted has happened to us,” Putin said as he thanked the government for its effective work throughout 2022, which helped Russia withstand international pressure amid unprecedented sanctions imposed by the US and its allies. “In no small way, that was the result of the government’s work,” he added. The president then said that there’s still much that needs to be done to secure Russia’s “absolutely … sovereign independent development despite all the external pressure and threats.”

He highlighted the fact that more efforts should be aimed at supplying the Russian forces involved in the conflict in Ukraine. Russia should also expand the technological capacities of its economy and encourage the creation of new industries and workplaces, he said, while strengthening the financial sector, the agriculture industry and some other economic fields. Following the start of Russia’s military operation in Ukraine in late February, the US and its allies in Europe and beyond imposed unprecedented sanctions against Moscow, targeting entire sectors of its economy, including finances and banking as well as aviation and space industries. In December, the EU, along with the G7 countries and Australia, introduced a price cap on Russian seaborne oil, set at $60 per barrel.

Last spring, many Western officials and media outlets predicted that the Russian economy would collapse under the pressure of sanctions and military expenditures, only to admit that Moscow managed to defy all of those predictions. In May, Croatian President Zoran Milanovic admitted that the Western sanctions were not working, as The Economist reported that the Russian economy proved to be “surprisingly resilient” amid high oil and gas revenues. In August, Bloomberg and the Washington Post reported that the sanctions failed to bring about the economic collapse that Western leaders had hoped for. In December, Putin said that Russia was outperforming many of the G20 nations despite sanctions. Earlier the same month, the Russian Finance Ministry said that oil and gas budget revenues exceeded the full-year target in the first 11 months, bringing an additional $9 billion to Russia’s coffers.

Putin 2016

Putin in 2016: Russia accepts America’s global supremacy, and the world needs U.S. leadership; we just don’t want them meddling in our affairs. pic.twitter.com/FtkfkmXsRX

— Putin Direct (@PutinDirect) January 10, 2023

“Moscow says Washington and its allies are waging a proxy war at the expense of the Ukrainian people.”

• Kremlin Explains Why There Are No Peace Talks On Ukraine (RT)

Russia would prefer peace talks with Ukraine over fighting, but sees no potential for them due to the positions taken by Kiev and its Western backers, Kremlin spokesman Dmitry Peskov has said. The official reminded journalists on Wednesday that Ukrainian law “forbids the president of Ukraine [from having] any dialogue with us.” “Under the circumstances, in which Westerners are apparently not prone to allow Kiev to show any flexibility on the issue, we cannot say that there is any potential [for negotiations] at the moment,” he added. In October, Ukrainian President Vladimir Zelensky signed into law an order by the Security and Defense Council, which banned any talks with Russia while its President Vladimir Putin remains in office.

Senior Ukrainian officials declared that talks with Moscow may only be possible after Kiev seizes control of all the land it considers to be under its sovereignty, including the Crimean Peninsula. Moscow said it was on the verge of signing a truce with Kiev in early April, after a breakthrough was achieved during Türkiye-mediated talks in Istanbul. The Ukrainian government made a U-turn, however, which Russia believes to have been the result of Western meddling. The US has declared “strategic defeat” of Russia in Ukraine as its policy goal and pledged to help Kiev “for as long as it takes” to achieve military victory. Moscow says Washington and its allies are waging a proxy war at the expense of the Ukrainian people.

“Achieving such an objective would indisputably require a prolonged war in Ukraine – regardless of the consequences to the Ukrainian people.”

• Using Ukraine as a Bloodied Pawn (Antiwar)

US and NATO officials routinely contend that assisting Ukraine in its war against Russia is a moral as well as a strategic imperative. Ukraine is supposedly on the frontlines of a global struggle between democracy and freedom on one side and brutal authoritarianism on the other. That justification lacks credibility for two reasons. First, Ukraine itself is a corrupt, repressive autocracy, not a freedom-loving democracy, even if one uses the most flexible, expansive definition of “democracy.” Second, the Russia-Ukraine war is a nasty turf fight over mundane stakes, not part of an existential global confrontation between good and evil.

It is hard to determine how much Western political leaders and their media mouthpieces actually believe their own moralistic propaganda. Some likely have drunk the Kool Aid, but others clearly have more practical (and less savory) reasons for wanting Washington to wage a proxy war against Russia. First and foremost, the financial benefits to the military-industrial complex are enormous. The United States has already provided more than $100 billion in aid to Kyiv, and a major portion of those funds are going to pay for Ukraine’s purchases (now or in the near future) of weapons systems from Raytheon, Lockheed Martin, or other manufacturers. Those firms also will benefit from the destruction of weapons already provided to Kyiv, since US stockpiles supposedly must be replenished. The usual collection of hawks already are sounding alarms that the arsenals of the United States and its NATO allies have become significantly depleted.

However, Secretary of Defense Lloyd Austin may have inadvertently disclosed a broader, ignoble motive for the proxy war. An April 2022 statement that he issued in Poland at the end of his stealth visit to Kyiv emphasized that Washington’s goal was not merely to help Ukraine repel Russia’s invasion, but to “weaken Russia” to the point that it could no longer pose a threat to any other country. Achieving such an objective would indisputably require a prolonged war in Ukraine – regardless of the consequences to the Ukrainian people.

What kind of people hold and purchase these shares?

• Share Prices Of NATO Weapons Makers Surge (RT)

The largest military and defense corporations of NATO member states have seen a 21.5% boost in market value in 2022 amid the military operation in Ukraine and the rearmament in Europe, Vedomosti newspaper reported on Wednesday, citing data from Defense News and Tradingview analytics. Their combined market capitalization increased from $579 billion in December 2021 to $703 billion in December 2022, according to the estimates. The ranking included 25 companies with a capitalization of over $1 billion which are traded on the stock market and have military products dominating in their revenues, and are also actively involved in arms supplies to Ukraine.

Authors of the report name German arms manufacturer Rheinmetall as the top gainer over the last 12 months, with a 122% surge in share price. French drone and missile producer Thales saw its market value rise 54%. American defense contractor Northrop Grumman was up 44%, while stock in HIMARS rocket launchers maker Lockheed Martin gained 42%. Other notable mentions in the report include BAE Systems (+40%), Kongsberg Gruppen (+37%), General Dynamics (+24%), and Raytheon Technologies (+19%). The report pointed out that the value of NATO’s military giants was soaring while the overall Western corporate sector sank by 16% last year, according to the S&P 1200 index, suggesting that arms manufacturers were likely the main beneficiaries of the political crisis in Europe.

Garland knew of the “Biden files” on Nov. 2, said nothing. But did order the raid on Mar-a-Lago on Nov. 16. There is no excuse.

• Why Biden and Trump Are Treated Differently in Classified Document Cases (ET)

As Republican lawmakers such as Rep. Marjorie Taylor Greene (R-Ga.) express concern that President Joe Biden’s retention of classified materials from his vice presidency may be “[swept] under the rug,” legal experts told The Epoch Times why Biden and former President Donald Trump appear to have been treated very differently in two strikingly parallel cases. FBI agents executed a search warrant on Trump’s Mar-a-Lago residence in Palm Beach, Florida, in August 2022. The warrant said there was probable cause to believe there were “additional documents that contain classified NDI [national defense information]” or “presidential records subject to record retention requirements” at Mar-a-Lago.

By contrast, neither the Penn Biden Center nor any other address associated with Biden has been raided after classified materials were reportedly found at the center’s Washington office, which is located in a nondescript building about a mile from the White House. “What’s the difference in what President Trump did versus what we now know President Biden did?” asked House Oversight Committee Chairman James Comer (R-Ky.), as reported by CBS. Biden’s attorneys have said that the materials were identified on Nov. 2, just days before an underwhelming midterm election performance by Republicans. Yet, the public wasn’t told of the existence of those materials until Jan. 9, two months after those elections took place.

That delay is indicative of “a political cover-up,” says Mike Davis, former chief counsel for nominations to then-Senate Judiciary Chairman Chuck Grassley (R-Iowa) and the founder of the Article III Project. He sees it as part of a pattern under the Biden administration. “There’s a clear political double standard at the Biden Justice Department, which has been politicized and weaponized against Republicans,” Davis told The Epoch Times on Jan. 10. An expert on administrative law had a similar perspective. “The fact that this has happened really creates a rule of law: if you’re a Republican, you have to meet certain exacting standards when it comes to records, and if you’re a Democrat, you don’t,” according to the expert, who requested anonymity because company policy doesn’t allow employees to speak to the media.

“A Republican president must operate in a fishbowl. If you’re a Republican president, the presumption is you have to preserve everything. And you just have to be extra careful. If you’re a Democrat, rest assured, you’re going to have different procedures applied.” Under a more consistent system, he added, the standard set by Trump’s case would also have applied to Biden’s case. “The Justice Department shouldn’t have said, ‘Let’s negotiate. You guys review and tell us what you find.’ The Justice Department should have immediately had the FBI raid the offices. Why? How do we know, without documenting and creating an inventory, whether the documents were classified or top secret?”

Tucker Biden files

Joe Biden — fresh from lecturing us about how Donald Trump is a criminal because he had unauthorized possession of secret documents — that very same Joe Biden, himself had unauthorized possession of secret documents. But don’t worry. It’s no big deal.https://t.co/4ZEs6xwGkn pic.twitter.com/g0F0EoT0RB

— Tucker Carlson (@TuckerCarlson) January 11, 2023

“Clinton was also “surprised” by the discovery of the documents . . . after they could not be used as part of the earlier investigation.”

• Biden’s ‘Surprise’: Classified Documents Were Moved At Least Twice (Turley)

With the reported discovery of a second batch of highly classified documents connected to President Biden, the decisions of Attorney General Merrick Garland are fast moving from the inexplicable to incomprehensible. Garland was presumably briefed that classified documents were discovered in Joe Biden’s old office on Nov. 2. He also presumably knew about the Biden documents when he appointed a special counsel to investigate the classified documents at Mar-a-Lago 16 days later. At the time of the appointment of Jack Smith, some of us noted the inexplicable refusal of Garland to appoint a special counsel to look into alleged Biden influence peddling and other crimes. Garland continued to refuse such an appointment even as he justified the appointment of Smith on the basis that Trump was running for the presidency.

Joe Biden is the president. What is the difference? President Biden, meanwhile, is feigning ignorance, simply saying he was “surprised” the documents were there. By not discussing the content of the documents, Biden minimizes his vulnerability to charges of obstruction or false statements. He can simply declare “surprise,” knowing that many in the media will welcome his silence as they spin the scandal. Despite the lack of information, the press and pundits have already declared there is no real national security danger and certainly no comparison to Mar-a-Lago. Rep. Sheila Jackson Lee, D-Texas, declared “There is no comparison. They were in a locked closet. They were not accessible.” So that is the standard? A locked closet? The Mar-a-Lago storage room was locked and later the security was enhanced at the request of the FBI.

It is fair to note that Trump and his staff are accused of false statements and obstruction. However, that does not change the same alleged crime of unlawful removal and possession. Biden is taking a page from the Hillary Clinton playbook. Recall the long-sought Whitewater documents. After the case was effectively over, they suddenly appeared. The New York Times called the documents “elusive,” as if they moved by free will. Clinton was also “surprised” by the discovery of the documents . . . after they could not be used as part of the earlier investigation. There are some obvious explanations for the documents being present in the office, particularly given Biden’s work on a book that discussed his work in some of the referenced countries like Ukraine. However, even that explanation raises more questions.

For example, Biden left office as vice president in 2017 and had an office at the University of Pennsylvania in Philadelphia after finishing his term until 2019. On February 8, 2018, the Biden Center for Diplomacy and Global Engagement says that it opened its doors in Washington, D.C. So if these documents were removed when Biden left office, where were they in the prior year and were they moved repeatedly before they ended up in the Washington office? This does not appear a “one-and-done” mistake. Rather documents may have been at various locations over a five year period. None of this could be clarified with Biden simply expressing “surprise.”

“McCarthy has the power to block Schiff and Swalwell. But the House will need to act against Omar serving on Foreign Affairs.”

• Top Dems Fume As Kevin McCarthy Boots Them From Key Committee Positions (AW)

House Speaker Kevin McCarthy (R-CA) has just made good on another promise Tuesday to remove Squad member Rep. Ilhan Omar (D-MN) from the Foreign Affairs Committee and Reps. Adam Schiff (D-CA) and Eric Swalwell (D-CA) from the Intelligence Committee. The Daily Mail is contending that it is payback from former Democratic House Speaker Nancy Pelosi (CA) stripping GOP Representatives Marjorie Taylor Greene (R-GA) and Paul Gosar (R-AZ) from their committee assignments during the 117th Congress. However, Republicans are asserting it is a promise kept to clean the House of radical leftists who they see as a national security threat. Republicans warned Democrats this was coming. Although conservatives won back the House with a slim majority, it is just enough to give them control and allow McCarthy the power to boot leftists from powerful committees.

Normally, the new Democratic Minority Leader Hakeem Jeffries would present names for the committees to McCarthy, but the Speaker had already made it clear who would be blocked, which includes the three far-left representatives, according to Punchbowl News. “It’s not like it’s anything new,” McCarthy informed the media outlet. “Remember, this is what Nancy Pelosi – this is the type of Congress she wanted to have.” “Swalwell can’t get a security clearance in the private sector,” he noted of the California lawmaker who was allegedly honey potted by a Chinese spy named Fang Fang. “I’m not going to give him a government security clearance.” The woman helped Swalwell raise money for his 2014 campaign and many suspect he was sleeping with her.

The California Democrat claimed that he cut all ties to the alleged spy, but it was shown that he remained friends with her on Facebook long after an FBI briefing on her connection to China. “Schiff has lied too many times to the American public. He should not be on Intel,” McCarthy bluntly asserted. And then there are Omar’s antisemitic outbursts and anti-American sentiments. She even made conciliatory comments at the last moment, but it didn’t save her committee assignment. [..] McCarthy has the power to block Schiff and Swalwell. But the House will need to act against Omar serving on Foreign Affairs. With a Republican majority and numerous Jewish Democrats who don’t care for her, it should be no problem making sure she’s off the Foreign Affairs Committee.

“At the beginning of 2022, Russia’s share of India’s oil imports amounted to just 0.2%. By the end of last year, it had grown to nearly one million barrels per day, reaching more than 20% of the country’s oil import basket.”

• India Won’t Support G7 Price Cap On Russian Oil – Analyst (RT)

The chances of India backing the G7 price cap imposed on Russian oil are almost zero, as the country will prioritize its own political and economic interests, an Observer Research Foundation (ORF) analyst told TASS on Wednesday. Nandan Unnikrishnan said India would not be targeted with secondary sanctions for rejecting the mechanism introduced by the EU, G7 countries and Australia in December. The measures target Russia’s seaborne crude, banning Western businesses from providing insurance and other services in respect of the country’s oil cargo unless it’s purchased at or below $60 per barrel. “At the moment, prospects of India joining the oil price ceiling are almost zero,” Unnikrishnan said in an interview with the news agency. His comments followed media reports suggesting that New Delhi could join the Russian oil price cap if crude costs go above $60 per barrel. “India will pursue its own interests – economic, political, strategic. It is currently interested in importing cheap crude from Russia and won’t give up on this, as the nation makes big profits,” added the ORF analyst.

Unnikrishnan also noted that 85% of the Indian economy relies on the private sector, stressing that Reliance Industries, the country’s largest buyer of Russian oil, has significant assets in the US, but it has not stopped imports. He said Indian companies would act purely in accordance with their business interests. India, the world’s third-biggest importer of crude oil after China and the US, has been steadily increasing purchases of Russian crude over the past several months, taking advantage of discounts Moscow offered to attract buyers. At the beginning of 2022, Russia’s share of India’s oil imports amounted to just 0.2%. By the end of last year, it had grown to nearly one million barrels per day, reaching more than 20% of the country’s oil import basket. India reportedly remained Russia’s top importer for three months in a row as of December.

“The 10-year bond yield has climbed above four percent (the level at which investors say panic sets in), nearly quadrupling the level of a year ago..”

• Italy and the EU Are on Collision Course as Economic Conditions Worsen (NC)

Despite NATO’s Ukraine war being the driver of Eurozone inflation, the European Central Bank is determined to keep hiking interest rates even if that means recessions for bloc countries and another debt crisis for Italy. The ECB raised its benchmark interest rate by 50 basis points In December, but also signaled that more hikes would follow in the coming months, which triggered a sell-off of Italian government bonds. Italy’s borrowing costs have risen to over four percent and are causing alarm in Rome. Meloni said the ECB should avoid making “choices that make things worse.” Deputy Prime Minister Matteo Salvini called the ECB’s decisions “unbelievable, baffling, worrying.” Italian Defense Minister Guido Crosetto criticized the ECB and its president Christine Lagarde for blindly following economic theory despite the harm it will inflict on businesses and workers.

“You have to justify this politically to your European citizens. You are not a Martian,” he said. Crosetto even resorted to accusing the ECB of aiding Russia with its rate hikes. The situation for Italy could worsen as growth slows and interest rates rise further. According to FT: “The new Italian government had “given little cause for concern for investors for now,” said Veronika Roharova, head of euro area economics at Swiss bank Credit Suisse. “But concerns may resurface if growth slows, interest rates continue to rise and [debt] issuance is picking up again.” Economists are now widely expecting all three of those to occur. Two-thirds of economists polled by FT predicted the ECB would start cutting rates in 2024 – likely after Italy and other states in the EU are in a recession. Again from FT:

“The ECB will start shrinking its €5 trillion bond portfolio by €15 billion per month from March by replacing only partially matured securities, putting further pressure on Italian borrowing costs. Ludovic Subran, chief economist at German insurer Allianz, said the eurozone risked a repeat of the 2012 bond market collapse “as fiscal options differ across countries without the heavy lifting of the ECB”.” Italy’s borrowing costs have already risen sharply since the ECB started raising interest rates over the summer. The 10-year bond yield has climbed above four percent (the level at which investors say panic sets in), nearly quadrupling the level of a year ago, and 2.1 percentage points above the equivalent yield on German bonds. According to Bloomberg, such conditions “threaten to unlock the same Pandora’s box that fueled the euro crisis of 2010-12, when the currency bloc nearly split apart as more-indebted countries faced a sudden, harsh tightening of financial conditions as investors sold off their bonds.”

“..the EU is also working on making bypassing sanctions a criminal offence in all the member states.”

• Greece, Malta Lag Behind In Sanctioning Russian Assets – EU Official (RT)

Greece and Malta lag behind their European Union peers in freezing Russian assets sanctioned over Moscow’s war against Ukraine, according to an EU official and an internal document, as the bloc considers confiscating the funds to help Kyiv, Report informs via Reuters. The 27 EU countries have so far reported freezing some 20.3 billion euros ($22 billion) of sanctioned Russian assets, with Italy, Ireland, France, Spain, Germany, Belgium, Luxembourg and Austria each notifying actions totalling more than a billion euros. Almost every other EU country has frozen millions worth of assets, according to the document from the EU’s executive European Commission, which was seen by Reuters. By comparison, Greece had only notified the bloc of freezing assets worth 212,000 euros, and Malta 147,000 euros. “That is a bit surprising,” said the EU official, who spoke under condition of anonymity.

“Either they don’t have much, or they are not doing their job. Or they have done something but not communicated to us even though they had chances.” More than 10 months since Russia’s attack on Ukraine, the EU currently has some 1,300 individuals and 120 entities blacklisted, as well as economic sanctions in place that include trade, transport, energy, banking, media and defence sectors. The EU’s attention turns this year to how and whether to confiscate the frozen Russian assets, and spend it on rebuilding Ukraine, an exercise where an estimated 300 billion euros worth of Russian central bank assets in Europe could also be at stake. There is little legal precedent and some member states voice major concerns about ensuing lawsuits, while others say turning the assets over to Ukraine’s benefit would be the right thing to do. Linked to that, the EU is also working on making bypassing sanctions a criminal offence in all the member states, which is not the case currently.

“it’s all part of the plan.”

• WEF Partner Behind Sudden Push to Ban Gas Stoves (GP)

The abrupt push by Democrats led by the Biden Regime to ban gas stoves has enraged and confused Americans across the country. The good news is we may have found the primary culprit behind the push and it’s connected to the World Economic Forum. RedState.com, which first broke this story, points out prominent Democrats and liberals never demonstrated an iota of concern over gas stoves before. Not even noted low-IQ Congresswoman Alexandria Ocasio-Cortez (D-NY), who made an utter fool of herself by claiming a study shows gas stoves are dangerous to brain health. A major Twitter leftist named Max Kennerly also got in on the act pushing the supposed dangers of cooking with gas. Like AOC, he had never tweeted about gas stoves before. Look at this tweet by Libs of TikTok showing Kamala Harris, Jill Biden, Pocahontas, and AOC all cooking on gas stoves. Do they appear alarmed over the potential impact to their health?

So why the manufactured outrage over gas stoves? Where did this study AOC cited come from? RedState.com has the answer: “Regardless, it’s worth asking where this is all coming from, right? Why did Democrats all start moving in lockstep to ban gas stoves, seemingly with no prior concern at all? And sure enough, with a little digging, it’s been revealed that this isn’t just idle science taking place.” “The company behind the study is called “Carbon-Free Buildings.” That company is a partner of the World Economic Forum and has a true-believer CEO who wants to rid the world of all carbon emissions (which is impossible and would lead to mass extinction).” To no one’s surprise this all connects back to the World Economic Forum (WEF). The same megalomaniacs who years ago informed the masses that they “will own nothing and be happy.”

Certainly looks like the Regime and its fellow Democrats have received marching orders from their globalist masters. The WEF and the Democrats both share a common goal of eliminating fossil fuels for the commoners while they fly gas-guzzling private jets across the globe. The elimination of gas stoves qualifies another step toward completing their scheme. As the Joker from The Dark Knight once said, “it’s all part of the plan.” If you have not realized this until now, then you really have not been paying attention.

The most famous figure in human history, according to the ranking of the Massachusetts Institute of Technology, is Aristotle. (MIT) collected and analyzed data on history and culture around the planet from 4,000 BC. until 2010. There are six people from Greece in the top ten.

The green heron with its neck at rest vs. fully stretched

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

Debt Rattle March 13 2018

Mar 132018

March 13, 2018 Posted by Raúl Ilargi Meijer at 10:33 am Finance Tagged with: Hollywood, inflation, krill, May, New Zealand, poisoning, propaganda, regulators, revamp, Saudi, steel, tariffs, Trump 15 Responses »

Mayfair Building, Times Square NYC 1954

• Sea Change Is Underway in Money Markets for Banks, Investors (BBG)

• The Real Reasons Trump Blocked Broadcom’s Qualcomm Takeover (CNBC)

• Donald Trump’s Attack on German Prosperity (Spiegel)

• Trump Pushes EU to Cut Tariffs as Bloc Vows to Resist ‘Bullies’ (BBG)

• Trump’s Metal Tariffs ‘Like An Atomic Bomb’ For European Firms (CNBC)

• Is The Dot.Com Bubble Back? (Roberts)

• China Plans New Ministries, Merger Of Regulators In Massive Revamp (R.)

• Central Banks Are Looking for New Ways to Meet Inflation Targets (BBG)

• Labour’s Nationalisation Plans As Damaging As ‘No Deal’ Brexit – CBI (G.)

• Another Quandary (Jim Kunstler)

• Russian Foreign Ministry Slams UK’s Comments On Skripal Poisoning Case (Tass)

• Saudis Reportedly Wielding Veto Power Over Prince Alwaleed (CNBC)

• The Rich Aren’t Happy About New Zealand Foreign Bolthole Ban (BBG)

• The Pentagon & Hollywood’s Successful And Deadly Propaganda Alliance (RT)

• Krill Fishing Poses Serious Threat To Antarctic Ecosystem (G.)

Is this where central banks fail in their quest for control?

• Sea Change Is Underway in Money Markets for Banks, Investors (BBG)

While many fixed-income investors may be focused on the specter of higher long-term Treasury yields, there’s a sea change afoot at the shorter end – in U.S. money markets. The London interbank offered rate, or Libor, and rates on Treasury bills are at levels not seen since 2008. The Fed’s move to tighten policy forms the backdrop for the increase, but an added force behind the surge this year has come from a deluge of supply as U.S. deficits widen. Higher short-term borrowing costs have implications for investors and also for banks, which find themselves paying up to borrow through the commercial-paper market as they compete to lure cash. “We are in a new paradigm,” said Jerome Schneider at Pimco. “The clear focus for the market is where will incremental demand come from to meet this supply.”

The Treasury has been jacking up debt sales this quarter: Net issuance is slated to exceed $400 billion, with the bulk coming in bills. The Treasury increased the 4-week bill sale to $65 billion, from as low as $15 billion earlier in the year. The march higher in Libor has widespread consequences despite regulatory efforts to replace it following a price-fixing scandal. About $350 trillion of financial products and loans are linked to Libor, with a large chunk hinged to the dollar-based version of the benchmark. Libor is among the main indexes, along with one-year T-bill rates, used to set U.S. adjustable-rate mortgages.

Assets in U.S. government-only money funds, which include bills among key holdings, have risen to $2.26 trillion, from $2.07 trillion last year. As the Fed keeps hiking, with the next move likely this month, the influx may continue. But for banks, the increasing appeal of T-bill rates is making them pay up to compete, through offering better returns on the commercial paper they use for short-term borrowing. “Banks still need funding and they need to entice investors,” Schneider said.

Protectionism, national security. Where’s the anti-Trump lobby on this?

• The Real Reasons Trump Blocked Broadcom’s Qualcomm Takeover (CNBC)

The threat of China factored heavily into the U.S. government’s decision to block Broadcom’s proposed buyout of Qualcomm. President Donald Trump, for his part, officially declared on Monday that the proposed $117 billion deal was prohibited on national security grounds. The president said in his order that “there is credible evidence” leading him to believe that Broadcom through control of San Diego-based Qualcomm “might take action that threatens to impair the national security of the United States.” That conclusion may seem extreme given that Broadcom is based in Singapore — and looking to redomicile to the U.S., where it conducts most of its operations — but it’s not a fear of the Southeast Asian city state that is raising national security concerns.

“The case that has been constructed is that, given Broadcom’s business practices, the worry is that they will cut investment significantly, particularly in the 5G roadmap, weaken Qualcomm, as well as the U.S. position and allow Huawei, a Chinese company to take the lead,” explained Stacy Rasgon, chip analyst at Bernstein. The Treasury Department said last week in a letter to lawyers involved in the deal that Qualcomm was trusted by the U.S. government and cited Huawei as a competitive threat in the development of 5G, which is a telecommunications standard that will allow for faster transfer of data. Beyond those 5G concerns, there’s even more to Trump’s decision to block the deal, experts said.

“It is not just China, it is not just chips. It is broad technology. It is U.S. military power and economic power going forward and he’s got a very consistent point of view,” said Ron Napier, head of Napier Investment Advisors. “Trump has been saying all year long since he was inaugurated that security is very important to him, technology is very important to him, trade is very important to him and getting jobs back to the United States is very important to him. He’s making this all into one fabric,” he added. “He sees this as the U.S.’ last big stand if it’s going to remain the leader of the free world,” Napier told CNBC.

Far too much steep is produced every year. THAT is the problem.

• Donald Trump’s Attack on German Prosperity (Spiegel)

The looming conflict is a sign of the turning point at which the global economy finds itself. Recently, the economy in most corners of the globe has been healthy, with the world experiencing a rare phase of synchronous growth. But it looks as though that phase is now coming to an end. Interest rates are rising and sovereign debt is growing, the result of which is that governments are beginning to lose their flexibility and it is likely that some countries will soon face difficulties borrowing money on the open market. Increasing financial market instability shows that insecurity is on the rise. And in this situation, protectionist policies pursued by populists and nationalists harm economic growth and endanger international prosperity.

It is something on which a majority of economists actually agree: tariff barriers slow growth, put jobs at risk and drive up inflation. Once a trade war is triggered, there is no winner, although Munich-based economist Gabriel Felbermayr says that Germany has the most to lose. “There is no other country in the world that would be hit as hard.” Felbermayr, 41, heads up the Center for International Economics at the Center for Economic Studies (CES). The shaved-headed economics professor, originally from Austria, has examined just how devastating Trump’s economic policies could be for the German economy. Every fourth job in the country, he says, is dependent on exports. And in five key sectors – automobiles, machinery, electrical engineering, pharmaceuticals and precision instruments – fully three-quarters of all exports go to the United States.

“If the U.S. were to cut itself off, it would threaten the German business model,” Felbermayr says. “Everything would start teetering.” [..] The global steel market has been imbalanced for years, with producers manufacturing 1.6 billion tons of crude steel each year against an annual demand of just 900 million tons. China is primarily to blame for this lopsidedness. Inexpensive energy and low wages enable the country’s steel producers to sell their products cheaply around the world. If the U.S. were to make moves to protect its domestic steel producers, even more cheap steel would flow into the EU than is already the case. Were that to happen, says Wolfgang Eder, head of the Austrian steel concern Voestalpine, “Europe would threaten to become the world’s garbage pail.”

The EU vows to stand up to bullies. Ask the Greeks about that one. What kind of person has the guts to say that?

• Trump Pushes EU to Cut Tariffs as Bloc Vows to Resist ‘Bullies’ (BBG)

The EU told U.S. President Donald Trump it won’t be cowed by his escalating protectionist rhetoric and talk of punitive tariffs. “Europe is prepared,” Dutch Finance Minister Wopke Hoekstra said Monday as he headed into a meeting with his counterparts from the rest of the euro area. “We are not afraid, we will stand up to the bullies,” Trade Commissioner Cecilia Malmstrom said earlier in the day. Trump returned to the offensive over the weekend, raising the prospect of higher levies on European cars and telling supporters at a rally that the countries of the EU have banded together “to screw the U.S. on trade.” The latest brinkmanship follows new tariffs on steel and aluminum imports that are straining a transatlantic relationship already tested by disputes from climate change to Middle East policy.

“Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large Tariffs and Barriers they use against the U.S.A.,” Trump tweeted on Monday. “Not fair to our farmers and manufacturers.” Trump’s rhetoric drew unanimous condemnation from European finance ministers gathering in Brussels. France’s Bruno Le Maire said that he’s concerned about “a trade war between the EU and the U.S.” while his Spanish counterpart Roman Escolano, making his debut as minister, said protectionism is always a mistake. Malmstrom accused the Trump administration of using trade “to threaten and intimidate” Europeans and using the issue as a “scapegoat.”

A meeting in Brussels between Malmstrom and her U.S. counterpart Robert Lighthizer on Saturday ended without a breakthrough, as the EU didn’t receive assurances that it will be exempted from the metal tariffs. “If anyone starts throwing stones, it’s better first to make sure he’s not living in a glass house,” European Commission spokesman Enrico Brivio said.

If even more Chinese steel floods into Europe, that is now Trump’s fault.

• Trump’s Metal Tariffs ‘Like An Atomic Bomb’ For European Firms (CNBC)

Donald Trump’s decision to impose tariffs on steel and aluminum could cause major disruption for companies in Europe, a business lobbyist told CNBC Monday, who argued that the U.S. president should have taken less severe measures to protect his domestic market. U.S.’s allies, including the European Union and Japan, are hoping to be excluded from new tariffs that Trump announced last week. The decision to raise steel import taxes by 25% and aluminum by 10% could hurt not only those industries directly, but also carmakers and construction firms which use the raw materials. Trump decided that the tariffs would be the best way to deal with overcapacity in these sectors and based his argument on national security.

“This is a very exceptional mechanism that is rarely used. It’s a bit considered like an atomic bomb, because really to use this is like saying ‘look we are really at a level where we cannot use anti-dumping or anti-subsidies’,” Luisa Santos, the international relations director at BusinessEurope, told CNBC Monday. [..] European steel and aluminum businesses are reportedly preparing for a collapse in local prices if the tariffs are indeed applied to their region. Charles de Lusignan, from the Steel Association for Europe, said ultimately the tariffs could mean a scaling back in Europe, with firms letting people go, cutting investment and also innovation. “We need to act immediately because the damage will be done within the first weeks,” he said. “In fact it might already be happening, because obviously an exporter knows that the steel might be blocked in the future so they already start sending it ahead.”

Not a relevant question.

• Is The Dot.Com Bubble Back? (Roberts)

Whether you believe there is a “bubble” in the Technology stocks, or the markets, is really not important. There are plenty of arguments for both sides. At the peak of every bull market in history, there was no one claiming that a crash was imminent. It was always the contrary with market pundits waging war against those nagging naysayers of the bullish mantra that “stocks have reached a permanently high plateau” or “this is a new secular bull market.” (Here is why it isn’t.) Yet, in the end, it was something unexpected, unknown or simply dismissed that devastated investors. This is why the discussion of “this time is not like the last time” is largely irrelevant.

Individuals no longer “invest” to become a “shareholder” in a publicly traded business. The “quaint concept” of “valuations” died with the mainstreaming of investing during the 1990’s as the “Wall Street Casino” opened for business. Today, investors only think in terms of speculating on “electronically traded bits of paper” in the hopes the value will rise over time. The problem, of course, is they are never told when to “sell” to capture that valuation increase which is the most critical aspect of the investment process. Instead, individuals continue to “bet” the “greater fool” will always appear. For now, the “bullish case” remains alive and well. The media will go on berating those heretics who dare to point out the risks that prevail, but the one simple truth is “this time is indeed different.”

There goes the last shred of transparency.

• China Plans New Ministries, Merger Of Regulators In Massive Revamp (R.)

China said it will merge its banking and insurance regulators, according to a parliament document released on Tuesday, in a series of proposed changes in the biggest ministry shake-up in years. In a long-awaited move to streamline and tighten oversight of the financial system in the world’s second-biggest economy, China will also transfer some of the banking and insurance regulators’ roles to the central bank, documents showed. In much-anticipated plans to create seven new ministries and a raft of government agencies announced on Tuesday, one of the most significant changes was creation of the national markets supervision management bureau.

The new body will decide on antimonopoly and pricing issues, replacing the roles played by the three national antitrust regulators: the National Development & Reform Commission (NDRC), the Ministry of Commerce and the State Administration for Industry and Commerce (SAIC). Unifying the structure under one agency, rather than handing the responsibility to one of the three existing watchdogs, reflects the growing importance of the issue for the government. China will also form a powerful new competition regulator in a bid to ramp up oversight of mergers and acquisitions and price-fixing as the world’s second-largest economy seeks to make policymaking more efficient and coordinated. Since the beginning of last year, Beijing has cracked down on leverage and risky market practices, with China’s various regulators releasing a flurry of new rules in an attempt to rein in risks.

Only, they don’t know what it is.

• Central Banks Are Looking for New Ways to Meet Inflation Targets (BBG)

With so many central banks failing to hit their inflation targets, some are considering changes to the tool kits they use to steer their economies. Norway’s decision to lower its price target is just the latest example, and follows more or less official adjustments in Sweden, Argentina and the euro area. Even in New Zealand, the birthplace of inflation targeting, the central bank is shifting to a broader goal that includes a focus on employment. But there’s no one-fits-all solution for monetary authorities and debate is splintered. Raising inflation targets has been discussed equally intensively in recent years as reducing or amending them.

And while some central banks acknowledge a need to reconsider their mandates, others are doubling down on existing policies. Claudio Borio, a top official at the Bank for International Settlements, poured fuel on the debate in September with a provocative speech calling for a broad rethink that accounts for how globalization and technological advances have influenced inflation. “Shall we throw away the books?” ECB President Mario Draghi asked on Thursday. “There are serious costs about changing course on credibility and the anchoring of expectations. We can go on on this for a while about changing objective.”

Think tanks are your friend.

• Labour’s Nationalisation Plans As Damaging As ‘No Deal’ Brexit – CBI (G.)

The head of Britain’s biggest business lobby group has attacked Labour’s nationalisation plans as potentially just as damaging to the economy as Britain leaving the European Union without a deal. In a speech on Monday, Paul Drechsler, the CBI president, said renationalising large parts of the economy would cause serious harm to the UK’s reputation as a place for international investors, which he argued would be as bad as a hard Brexit and would damage job prospects and living standards. “So you want to nationalise energy, rail and water, and bring public services contracts back in house? Let’s see the evidence that it will deliver a better service to consumers at a lower cost,” he said.

The intervention by the lobby group – which represents about 190,000 companies, including transport and utility firms – constitutes a warning from the boardrooms of corporate Britain that they harbour concerns over Labour’s plans for the economy despite supporting the party over its stance on Brexit. The CBI was among leading business voices supporting Jeremy Corbyn’s move to keep Britain in a customs union with the EU. The lobby group warned before the referendum that Brexit could lead to almost a million job losses and cost the economy £100bn – the equivalent of 5% of GDP – by 2020. Drechsler challenged Labour to provide evidence that its plans would lead to a better service for consumers at a lower cost.

He said private investment had helped create jobs and improve the efficiency of utility companies since they were sold off under the Thatcher government of the 1980s, and argued that progress could be undone if they were taken back into state control. However, utility companies and railway operators have faced intense pressure over their service standards and prices at a time when households are under increasing financial strain. Public support has swung behind Labour’s plans for greater state control of several key industries – shown in recent polls that suggest widespread backing for nationalisation of the railways, water, gas and electricity.

Mentally ill, cannabis.

• Another Quandary (Jim Kunstler)

That crusty ole rascal, Gov. Jerry Brown of California, seems to be enjoying his sunset journey into Civil War Two or maybe the destination is more like Blade Runner (since we know that history only rhymes but does not repeat). Anyway, it’s not a good place. The once-golden state begins to look something like what one federal official recently called — dare I say it? — a shithole. “A mix of used hypodermic needles, human feces, and other trash litters the streets and sidewalks in a large section of downtown San Francisco, a local news outlet reported Sunday night. It’s a problem that has grown by epic proportions in recent years and has many concerned for the health and safety of some the city’s youngest residents…” — The Blaze

Yes, quite literally. This particular failure of the political Left started in the 1970s when states began aggressively shuttering their large mental hospitals. Many of these institutions dated from the late 19th century – ghastly old gothic revival warehouses for the mentally ill, fraught with overtones of abuse and neglect, scenes out of Vincent Price movies… lightning flashes through the barred windows… a scream in the night… hysterical laughter echoing down the dark, tiled hallways…. They were an embarrassment, for sure, and certainly an affront to liberal sensibilities. But, of course, they fucked up the remedy for that. Instead of replacing the giant old state insane asylums with smaller, better-managed institutions, they just released the inmates under the rationale that they were a politically oppressed minority group. And there it ended.

And so here we are, going on a half-century later, with an economy that manufactures failure and immiseration at a greater volume than its other finished products, and many more lost souls out on the city streets, and now we are an even more ideologically inflamed society than we were in 1973, with the ranks of intersectional oppressed minorities and aggrieved victim groups grown into virtual armies-of-the-night — and the mentally ill just lost in the crowd. It never seems to occur to anyone that a mental hospital can be run humanely, at an appropriate scale, and that these poor, sad creatures might, at least, be better off there with a bed, a bathroom, and somebody to check in on them daily than they are wallowing in the gutters of San Francisco and other cities. Surely there are up-to-date models in other lands for this kind of caretaking — if maybe we sent a few bureaucrats overseas to have a look.

Who needs proof in an echo chamber? Whether it’s Theresa May or the House Intelligence case, the lines have been drawn long ago.

• Russian Foreign Ministry Slams UK’s Comments On Skripal Poisoning Case (Tass)

Russian Foreign Ministry Spokeswoman Maria Zakharova has dubbed as a ‘circus show’ comments of UK Prime Minister Theresa May on the poisoning of Sergey Skripal, a former colonel in Russia’s GRU military intelligence, and his daughter. “This is a circus show in Britain’s parliament,” she stressed. “The conclusion is obvious – a next political media campaign based on provocation,” Zakharova added. Earlier, Theresa May said it is “highly likely” that Russia is responsible for the poisoning of Sergey Skripal and his daughter. Moscow urges London to make public the results of the investigation into the deaths of Alexander Litvinenko and Boris Berezovsky, Zakharova said.

“Before making up new stories, let somebody in the Kingdom tell us what the previous fairy-tales ended in – those about Litvinenko, Berezovsky, Perepilichny and many others who died under mysterious circumstances on British soil,” the diplomat said. Former GRU Colonel Sergey Skripal, 66, and his 33-year-old daughter Julia on March 4 suffered from the effects of an unidentified nerve agent. They were found in an unconscious condition on a bench near The Maltings shopping center in Salisbury. Both are now in hospital in critical condition.

In 2004, Skripal was arrested by the federal security service FSB, charged, tried and convicted of high treason and stripped of all ranks and awards. In 2010 he was handed over to the United States under an arrangement to exchange persons arrested on spying charges. Later in the same year Skripal settled in Britain.

The price of freedom.

• Saudis Reportedly Wielding Veto Power Over Prince Alwaleed (CNBC)

Prince Alwaleed Bin Talal remains chairman of Kingdom Holding Company following his release from detention, but the Saudi government reportedly has final say over decisions at the investment firm. Investment decisions at Kingdom Holding are now subject to approval by the government, The Wall Street Journal reported on Monday, citing senior Saudi advisers. Kingdom Holding has $12.5 billion invested across more than a dozen sectors around the world, according to its website. Alwaleed’s personal investment portfolio is also under government control, according to the Journal. Alwaleed holds substantial stakes in companies like Citigroup, Twitter, Lyft and Time Warner.

The Journal report does not indicate whether the government has exercised its newfound influence over these investments. However, sources tell the Journal the government has already intervened in a major real estate project, ordering senior managers at Kingdom Holding to abandon the Jeddah Tower, which would be the world’s tallest skyscraper when — and if — it is completed. Officials have directed Kingdom Holding to instead focus its energy on a new city called Neom, which is expected to cost $500 billion to build. The project was announced in October by Crown Prince Mohammed bin Salman, the influential king in waiting who is overseeing the kingdom’s economic transformation and spearheaded the campaign that led to Alwaleed’s detention.

What happens when there’s only rich people left? Or: who cares about New Zealanders?

• The Rich Aren’t Happy About New Zealand Foreign Bolthole Ban (BBG)

Rich-listers like Californian billionaire Ric Kayne have issued a warning to New Zealand – banning house sales to foreigners could hurt the country’s reputation and turn wealthy investors away. Kayne, who has built an exclusive golf course in New Zealand and wants to expand his investments, is one of several rich businessmen who claim the proposed new law will have unintended consequences. They’re seeking amendments to the draft legislation or its withdrawal in its current form. “The vision we have for what we would like to contribute to New Zealand is now being threatened,” Kayne wrote in submissions to a parliamentary committee examining the proposed law change.

“The new rules will “impact on us personally, and others like us who, having discovered this country, want to devote considerable resources to preserving, protecting and enhancing it.” The new Labour-led government came to power in October on a pledge to fix a housing crisis with a raft of measures, including a ban on foreign speculators buying residential property. While data suggest non-residents have only a minor impact on the wider housing market, support for the move was boosted by headlines about rich foreigners buying mansions and farms in New Zealand as boltholes away from the world’s ills.

House prices have surged more than 60% in the past decade amid record immigration and a construction shortfall. In biggest city Auckland, prices have almost doubled since 2007 to an average of more than NZ$1 million ($730,000). That’s made it more difficult for first-time buyers to enter the market and driven up rents, leaving increasing numbers of poor people homeless. “It’s really important for us that we sort our housing market out, that we give New Zealanders a fair go at buying their first home,” Finance Minister Grant Robertson said in a television interview Sunday. While the country welcomes foreign investment, “what we want is good-quality investment that supports the productivity of the New Zealand economy,” he said.

Ethics and Hollywood.

• The Pentagon & Hollywood’s Successful And Deadly Propaganda Alliance (RT)

The Pentagon helps Hollywood to make money and, in turn, Hollywood churns out effective propaganda for the brutal American war machine. The US has the largest military budget in the world, spending over $611 billion – far larger than any other nation on Earth. The US military also has at their disposal the most successful propaganda apparatus the world has ever known… Hollywood. Since their collaboration on the first Best Picture winner ‘Wings’ in 1927, the US military has used Hollywood to manufacture and shape its public image in over 1,800 films and TV shows. Hollywood has, in turn, used military hardware in their films and TV shows to make gobs and gobs of money.

A plethora of movies like ‘Lone Survivor,’ ‘Captain Philips,’ and even blockbuster franchises like ‘Transformers’ and Marvel, DC and X-Men superhero movies have agreed to cede creative control in exchange for use of US military hardware over the years. In order to obtain cooperation from the Department of Defense (DoD), producers must sign contracts that guarantee a military approved version of the script makes it to the big screen. In return for signing away creative control, Hollywood producers save tens of millions of dollars from their budgets on military equipment, service members to operate the equipment, and expensive location fees.

Capt. Russell Coons, director of the Navy Office of Information West, told Al Jazeera what the military expects for their cooperation: “We’re not going to support a program that disgraces a uniform or presents us in a compromising way.” Phil Strub, the DOD chief Hollywood liaison, says the guidelines are clear. “If the filmmakers are willing to negotiate with us to resolve our script concerns, usually we’ll reach an agreement. If not, filmmakers are free to press on without military assistance.”

We’ve screwed up even the bottom of the food chain. Winning!

• Krill Fishing Poses Serious Threat To Antarctic Ecosystem (G.)

Industrial fishing for krill in the pristine waters around Antarctica is threatening the future of one of the world’s last great wildernesses, according to a new report. The study by Greenpeace analysed the movements of krill fishing vessels in the region and found they were increasingly operating “in the immediate vicinity of penguin colonies and whale feeding grounds”. It also highlights incidents of fishing boats being involved in groundings, oil spills and accidents, which it said posed a serious threat to the Antarctic ecosystem. The report, published on Tuesday, comes amid growing concern about the impact of fishing and climate change on the Antarctic.

A global campaign has been launched to create a network of ocean sanctuaries to protect the seas in the region and Greenpeace is calling for an immediate halt to fishing in areas being considered for sanctuary status. Frida Bengtsson, from Greenpeace’s Protect the Antarctic campaign, said: “If the krill industry wants to show it’s a responsible player, then it should be voluntarily getting out of any area which is being proposed as an ocean sanctuary, and should instead be backing the protection of these huge swaths of the Antarctic.” Last month a study found a combination of climate change and industrial-scale fishing is hitting the krill population, with a potentially disastrous impact on larger predators.

Photograph: Justin Hofman/Alamy Stock Photo

The study warned that the penguin population could drop by almost one-third by the end of the century due to changes in krill biomass. Krill are a key part of the delicate Antarctic food chain. They feed on marine algae and are a key source of food for whales, penguins and seals. They are also important in removing the greenhouse gas carbon dioxide from the atmosphere by eating carbon-rich food near the surface and excreting it when they sink to lower, colder water. There is a growing global demand for krill-based health products which are claimed to help with a range of ailments from heart disease to high blood pressure, strokes and depression. A recent analysis of the global krill industry predicted it was on course to grow 12% a year over the next three years. Krill populations have declined by 80% since the 1970s.

Debt Rattle July 6 2017

Jul 062017

July 6, 2017 Posted by Raúl Ilargi Meijer at 9:07 am Finance Tagged with: austerity, collusion, coup, debt binge, Erdogan, Fed, Hollywood, May, provocation, Syria, war 3 Responses »

Roy Lichtenstein Woman With Flowered Hat 1963

• The Fed Grows Worried Its Loose Policy Threatens US Financial Stability (CNBC)

• Fed Eyes September Announcement on Balance-Sheet Reduction (WSJ)

• China’s Debt Binge Threatens Australia (CB)

• Australian Housing ‘Bubble’ Fears Overblown, HSBC Economist Says (BBG)

• Europe’s Quietly Growing Poor Population Is Getting Louder (Occupy)

• German Banks Pose A Threat That Politicians Want To Hide (CNBC)

• Saudi Arabia Chief Foreign Promoter Of Islamist Extremism In UK – Report (Ind.)

• Theresa May: Austerity Prevents UK From Turning Into Greece (G.)

• China’s Electric Cars Are Actually Pretty Dirty (BBG)

• After Failure To Prove Trump-Russia Collusion, There’s Pro-Trump Websites (ZH)

• Terrorists in Syria to Stage Provocations to Justify US Strikes – Moscow (Sp.)

• Hollywood Promotes War On Behalf Of The Pentagon, CIA and NSA (M.)

• Report In Sweden Claims Erdogan Orchestrated July 15 Coup In Turkey (SCF)

• Three In Four Recent Greek Graduates Work For Less Than €800 A Month (K.)

• EU Calls On Members To Aid Migrants Amid Rising Mediterranean Death Toll (G.)

• EU Blamed For ‘Soaring’ Migrant, Refugee Death Toll (BBC)

I think the Fed has known this for a long time.

• The Fed Grows Worried Its Loose Policy Threatens US Financial Stability (CNBC)

The Federal Reserve’s most recent interest rate hike came amid worries that keeping policy loose was posing increasing risks to financial stability and the economy. Fed officials indicated a determination to continue raising rates even with muted inflation levels, which they considered to be temporary and likely to rise over the long run to a targeted level of 2%, according to a summary from the June meeting of the policymaking Federal Open Market Committee. The Fed raised its benchmark rate target a quarter point at the meeting and outlined a plan to reduce its $4.5 trillion balance sheet of bond holdings it accrued while trying to stimulate the economy during and after the financial crisis. Meeting minutes released Wednesday indicated that Fed officials believe the balance sheet can be reduced with “limited” disruption to financial markets.

Officials also expressed little concern that low inflation would persist. However, Fed officials were divided on when the balance sheet runoff should begin, and did not release a timetable on when it would happen. Recent readings below the Fed’s 2% goal were attributed to “idiosyncratic factors, including sharp declines in prices of wireless telephone services and prescription drugs, and expected these developments to have little bearing on inflation over the medium run.” The rate hike came as several officials voiced concern over the effect, or lack thereof, that their recent measures were having on financial markets. Rather than causing conditions to tighten, they actually have grown looser since the central bank embarked on a series of hikes.

While the Fed has increased its benchmark rate target four times since December 2015, government bond yields have declined in recent months. Stocks have continued to gain in the second-longest bull market ever recorded, and multiple other measures of financial conditions remain loose. The meeting minutes reflected considerable discussion over why that was happening. Low bond yields, they reasoned, could be the product of “sluggish longer-term economic growth” as well as the Fed’s $4.5 trillion balance sheet of bond holdings.

It’s time to say goodbye to the Fed and other central banks. They’re too destructive.

• Fed Eyes September Announcement on Balance-Sheet Reduction (WSJ)

Federal Reserve officials have indicated there is a strong chance they will announce in September a decision to start shrinking the central bank’s portfolio of bonds and other assets, while putting off until December any further interest-rate increase. The moves would give officials time to assess how markets react to the balance-sheet reductions and to confirm their view that a recent slowdown in inflation will fade. Launching the balance-sheet plan in September also would afford Chairwoman Janet Yellen an opportunity to initiate it well ahead of any potential leadership transition. Her term as chair expires in February, and President Trump hasn’t indicated whether he would nominate her to a second term or replace her. While a final decision on the next Fed moves hasn’t been made, officials will have several opportunities in coming weeks to clarify their thinking.

The central bank releases minutes of the June meeting on Wednesday, and Ms. Yellen testifies before Congress next week. Officials will also gather in Jackson Hole at the end of August for an annual monetary-policy conference that will provide ample opportunities for them to offer further guidance. Earlier this year, some officials indicated they were considering raising interest rates in March, June and September and then starting the portfolio reduction plan in December. They did raise rates in March and June, but are considering the new strategy for several reasons. First, they agreed at their June policy meeting on how they would reduce the $4.5 trillion portfolio, and made that plan public. Some officials now think they might as well get started soon, given the U.S. economic expansion appears steady and global growth is improving.

Second, if Ms. Yellen isn’t nominated to a second term as chair, they would prefer not to wait until December and launch the plan shortly before her successor takes charge. Third, inflation remains a puzzle for the Fed. The unemployment rate fell to 4.3% in May, a 16-year low, yet price pressures have diminished in recent months, moving year-over-year inflation gauges further below the central bank’s 2% target. Some Fed officials in recent weeks have said they want to see more proof that such price softness is transitory before resuming rate increases, but haven’t signaled similar qualms about initiating the balance-sheet runoff. “Take the balance sheet, get that started, and position ourselves for a December rate increase,” said Chicago Fed President Charles Evans in an interview last month.

But.. wasn’t it supposed to make Australia rich?

• China’s Debt Binge Threatens Australia (CB)

No country can be indifferent to China’s economy, especially not Australia. We’re more exposed to what goes on in it than just about any other nation. China has long been the biggest market for our commodities, such as iron ore, coal and wool. And now it is the largest foreign buyer of our services, especially education and tourism. The upshot? Many thousands of Australian jobs depend on the health of the Chinese economy. Big Asian economies in our region – China, India and Indonesia – are bound to become even more important to us during this, the Asian Century. Our politicians like to dwell on the opportunities presented by the historic economic transformation to our north. But we’ll also need to be prepared for some nasty bumps along the way. The aftermath of China’s enormous corporate debt bubble could well be one of them.

For some years now China’s economic growth has been underpinned by an explosion in corporate lending. China has accounted for half – yes half – of all new credit created globally since 2005 according to the New York Federal Reserve. That’s a huge share for an economy that now only accounts for about 15% of the global economy. Alarm bells rang last August when the IMF pointed out the trajectory of credit growth in China was eerily similar to countries that experienced painful post-debt boom adjustments in the recent past. This includes Japan in the 1980s, Thailand prior to Asian Financial Crisis and Spain prior to the European debt crisis. The sheer pace of lending growth makes it likely many loans are going to marginal borrowers or unviable projects.

A recent Oxford University study that evaluated 65 major road and rail projects in China concluded just 28% could be considered “genuinely economically productive”. The rapid expansion of China’s less regulated “shadow banking” sector adds to the complexity. The Reserve Bank has described China’s financial system as “increasingly large, leveraged, interconnected, and opaque”. Authorities have recently taken steps to reduce credit growth in China but it continues to expand at a rapid pace. The Reserve’s latest review of financial stability published in April, said the risks continue to build. “The level of debt in China has risen significantly over the past decade to reach very high levels, with particularly strong growth in lending from the less regulated and more opaque parts of China’s financial system,” it said.

Fire the guy, and all others like him.

• Australian Housing ‘Bubble’ Fears Overblown, HSBC Economist Says (BBG)

Soaring home prices in Australia’s biggest cities are driven by strong demand and a lack of supply, rather than indicating a “bubble,” according to HSBC’s local Chief Economist Paul Bloxham. “At a national level, a key reason for rising housing prices has been housing under-supply,” Bloxham wrote in a research note on Thursday. “This also suggests that a significant fall in Australian housing prices, as occurred in the U.S. and Spain during the global financial crisis, is unlikely.” Five years of red-hot growth have left prices in Sydney and Melbourne up 80% and 60% since mid-2012, fueling bubble concerns. In June, Moody’s Investors Service cut the long-term credit ratings of Australia’s four biggest banks, saying surging home prices, rising household debt and sluggish wage growth pose a threat to the lenders.

Bloxham, a former staffer at the Reserve Bank of Australia, said that “fundamental factors” largely explain the price boom and, “as a result, we do not judge it to be a bubble.” Demand for housing in Melbourne and Sydney has been supported by domestic and international migration, foreign investment and a lack of new supply, he said. Price increases have been much smaller in places such as Perth, where demand has been weaker amid the waning of a mining boom. The Australian Prudential Regulation Authority has gradually been ratcheting up restrictions on riskier loans and in recent months the big lenders have all raised interest rates charged on interest-only loans. Bloxham said he believes these regulatory measures will help cool the market, along with lower demand from overseas and increased supply.

“..more than 240 million people now live on the poverty line..”

• Europe’s Quietly Growing Poor Population Is Getting Louder (Occupy)

[..] early last month, financial analysts lauded the explosive growth of the Eurozone, claiming that it had outdone the U.S. The ECB predicted that countries like Germany and France would be able to issue bonds worth over 600 billion euros by the end of the year. By all accounts it would seem that the storm has passed. The E.U. suffered long and hard, endured the departure of one of its most economically sound member-states, and has apparently managed to come out on top, even amid one of the most dire humanitarian crises in recent memory. However, a brief look at some the official reports published by E.U. economists paints a wholly different, less rosy picture. In March 2010, the European Commission published a detailed economic strategy that was intended to rescue the then 80 million citizens of the Eurozone from falling below the poverty line.

In a manner reminiscent of the Soviet Union, the Commission extensively defined “poverty” in as loose a terminology as possible, hoping to reduce the number of that population. It also measured income inequality using the wildly fluctuating per-capita incomes of each member-state. One of the more prevailing definitions used by the European Commission at the time was relative poverty: “People are said to be living in poverty if their income and resources are so inadequate as to preclude them from having a standard of living considered acceptable in the society in which they live. Because of their poverty they may experience multiple disadvantage through unemployment, low income, poor housing, inadequate health care and barriers to lifelong learning, culture, sport and recreation. They are often excluded and marginalized from participating in activities (economic, social and cultural) that are the norm for other people and their access to fundamental rights may be restricted.”

The purpose of the strategy was to implement, for lack of a better term, a “glorious 10-year plan” that would lift up the failing economies of the less developed or ailing member-states, encourage mobility within the Union and enable those 80 million citizens to be lifted above the poverty line. In 2017, the strategy was given a new, thorough assessment by Bruegel, a Brussels-based economic think-tank, which revealed that it not only failed to achieve its goal (an understandable outcome under the circumstances) but also increased the number of E.U. citizens risking poverty almost threefold. As of June, the European Commission website stated that more than 240 million people now live on the poverty line (around one-third of the E.U. population), with a full 9% of citizens suffering from deprivation.

That doesn’t factor in the considerable population of refugees and other marginalized communities such as the Roma, or the desperate populations of underdeveloped areas in countries like Romania. So where does all this leave the E.U.’s poor? According to predictions, financial troubles will escalate the already growing trend of social exclusion affecting women, single parents, immigrants and others in the E.U. for years to come. Already, E.U. citizens are choosing to abandon higher education in favor of steady employment. In countries like Greece, Macedonia and other member-states with expansive rural areas, the exodus of able-bodied young people combined with an aging population will lead to a long-term economic drain from which they may never recover.

Too many banks? Or too much debt?

• German Banks Pose A Threat That Politicians Want To Hide (CNBC)

With the Italian banking system in the spotlight, analysts have highlighted that Germany’s lenders are still not out of the woods, saying shipping loans and too many bank branches are some of the very real problems they are currently facing. German officials repeatedly tell EU members from the south of Europe to restructure their banking systems but industry experts believe they have a problem of their own as federal elections approach. “Germany is overbanked, too many banks, very little consolidation has taken place,” Carsten Brzeski, chief economist at ING Germany, told CNBC via email on Wednesday. There are approximately 2,400 separate banks with more than 45,000 branches throughout the country and over 700,000 employees, according to Commercial Banks Guide, an industry website.

This increases the cost income ratio for banks, Brzeski explained. Meanwhile, the IMF warned last May that cost-to-income and leverage remain high in Germany. “Low profitability reflects structural inefficiencies, persistent crisis legacy issues, provisions for compliance violations, and the need to adjust to the new regulatory environment,” the IMF said in the report last May. Another problem seems to be the reliance on the shipping industry for many banks. “I would point towards some specific issues with asset quality: Shipping is one of the priorities of the single supervisor, the ECB, for next year,” Gildas Surry, senior analyst at Axiom Alternative Investments, told CNBC on Wednesday when citing the biggest problem for the German banking sector.

As May refuses to make public a government report. Dead end.

• Saudi Arabia Chief Foreign Promoter Of Islamist Extremism In UK – Report (Ind.)

Saudi Arabia is the chief foreign promoter of Islamist extremism in the UK, a report has warned. The conservative Henry Jackson Society said there was a “clear and growing link” between Islamist organisations preaching violence and foreign state funding. In a new report entitled “Foreign Funded Islamist Extremism in the UK”, the thinktank calls for a public inquiry into extremism bankrolled by other countries. It suggests several Gulf states and Iran are responsible for much of the foreign funding of extremism in the UK, but that Saudi Arabia in particular had spent millions on exporting its conservative branch of Wahhabi Islam to Muslim communities in the West since the 1960s.

The thinktank, run by controversial journalist and political commentator Douglas Murray, said this typically took the form of endowments to mosques and Islamic educational institutions which host radical preachers and distribute extremist literature. The report calls for a public inquiry in Saudi Arabia’s connections with UK based extremism. The UK’s Saudi Arabian embassy told the BBC the allegations were “categorically false”. But it comes as the Government is facing mounting pressure to release its own report into Saudi funding of extremism. Responding to a parliamentary question on Tuesday, Theresa May said ministers were “considering advice on what is able to be published and will report to Parliament with an update in due course”.

The report, which has been in Ms May’s personal possession for six months, was first commissioned by David Cameron in 2015 following an agreement with the Liberal Democrats to get their support for Syrian air strikes. But last month a spokesman for the Home Office admitted to the Guardian that the report may not be published because its contents were “very sensitive”. Since coming to power in July last year, Ms May has courted the conservative kingdom, which is one of the main buyers of UK-made arms. Earlier this year, the Government approved £3.5bn-worth of arms exports licences to the Gulf state.

This is getting too absurd. She’s claiming austerity can rescue a nation, but look at Greece. Someone like Steve Keen should set May straight once and for all. Corbyn doesn’t sound terribly clear either.

• Theresa May: Austerity Prevents UK From Turning Into Greece (G.)

Theresa May raised the spectre of a Greek-style economic collapse if Britain fails to press ahead with tackling the deficit on Wednesday, as she was challenged repeatedly by Jeremy Corbyn over the public sector pay cap. With intense political pressure on the prime minister – including from her own cabinet colleagues – to ease the strain for cash-strapped public servants, including nurses and teachers, she warned MPs about the risks of loosening the purse strings. “This is not a theoretical issue. Let us look at those countries that failed to deal with it. In Greece, where they have not dealt with the deficit … What did we see with that failure to deal with the deficit? Spending on the health service cut by 36%. That does not help nurses or patients,” she said.

Comparisons with Greece were repeatedly used by George Osborne in 2010 to justify public spending cuts, as riots erupted on the streets of Athens over the stringent bailout conditions imposed by the IMF and the eurozone. But the analogy represented a significant ratcheting up of the pro-austerity argument from May. A Conservative spokesman emphasised remarks afterwards, saying: “There are siren calls from Labour to abandon any kind of fiscal restraint whatsoever. What happens, we’ve seen as a case study, is what happened in Greece.” He added: “I think she was suggesting if Jeremy Corbyn’s Labour party got the chance to impose its fiscal policies on the United Kingdom that is a very real threat.”

A spokesman for Corbyn described the claims as “preposterous”. “The situation in Greece is tied up with the eurozone and the management of the eurozone banks – we’re not remotely in that situation. Our manifesto and our pledges were costed, unlike the government’s,” he said.

Prediction: the Green crowd is not going to listen.

• China’s Electric Cars Are Actually Pretty Dirty (BBG)

China has been making great strides toward electrification. Electric vehicle sales are booming: Consumers bought more than 300,000 last year, and more than 5 million are expected to be on the road by 2020. The government just announced bold plans for a wave of big new battery factories. Encouraging as that may be, though, the move away from conventional cars and trucks won’t immediately reduce the country’s carbon emissions. On the contrary, the production and exploitation of electric vehicles in China actually produces more greenhouse gases and consumes more overall energy. In the short run, China’s moves could make greenhouse emissions go up, not down. Electric vehicles seem environmentally benign. They’re lightweight, energy-efficient, and potentially greener than their conventional counterparts.

But the reality is more complex. Their manufacture entails energy-intensive mining of rare elements, such as the lithium required for their batteries. Their fuel efficiency can make up for that in the course of use, but only if the electricity is produced in a relatively clean way. Developed nations get the best results, because they tend to generate electricity using cleaner sources. By one estimate, the average electric car in the U.S. has just half the greenhouse gas impact of a conventional car over its life cycle. It’s even less in the western, southern and northeastern parts of the country, where power plants draw more renewable power. A comprehensive energy model being developed by Argonne National Laboratory produces a similar estimate.

Europe does well, too. Looking at all the processes involved in the manufacture, use, and ultimate disposal of a range of both electrical and conventional vehicles, Norwegian researchers found that electric vehicles offer at least a 10% reduction in greenhouse gas emissions (assuming they were driven about 150,000 kilometers). To be sure, electric-vehicle batteries impose a host of other environmental costs linked to the mining of rare metals. But on carbon emissions, electric vehicles win out. The real challenge to reducing greenhouse gas emissions will be in developing nations – especially China, which is likely to dominate the global auto market for decades to come. Unfortunately, the structure of China’s industrial economy will make it difficult. One recent study by Chinese engineers estimated that electric vehicles generate about a 50% increase in both greenhouse gas emissions and total energy consumption over their life cycle. The manufacture of the lithium-ion battery alone accounts for 13% of the energy consumption and 20% of the emissions.

It’s high time for a reset. The narrative is dead.

• After Failure To Prove Trump-Russia Collusion, There’s Pro-Trump Websites (ZH)

Having failed miserably to produce even one single shred of tangible evidence that Trump colluded with Russia to stage a coup in 2016’s presidential election, Democrats, rather than simply admit that their entire crusade to prove a false narrative was nothing more than a charade designed to cover up their embarrassing defeat, have decided to shift the narrative to target “pro-Trump websites.” You know, because a couple of websites sharing stories over Facebook clearly overshadowed the 24/7 Hillary Clinton cheerleading sessions on CNN, MSNBC, NBC, ABC, CBS, Washington Post, New York Times… Per The Guardian, this convenient shift in the ‘Russian hacking’ narrative comes just as Trump’s former head of digital media has been summoned to appear before the Senate Intelligence Committee to answer for his alleged ‘sins:”

“The spread of Russian-made fake news stories aimed at discrediting Hillary Clinton on social media is emerging as an important line of inquiry in multiple investigations into possible collusion between the Trump campaign and Moscow. Investigators are looking into whether Trump supporters and far-right websites coordinated with Moscow over the release of fake news, including stories implicating Clinton in murder or pedophilia, or paid to boost those stories on Facebook.The head of the Trump digital camp, Brad Parscale, has reportedly been summoned to appear before the House intelligence committee looking into Moscow’s interference in the 2016 US election. Mark Warner, the top Democrat on the Senate intelligence committee carrying out a parallel inquiry, has said that at least 1,000 “paid internet trolls working out of a facility in Russia” were pumping anti-Clinton fake news into social media sites during the campaign.”

Ironically, the same investigators digging into the “Trump collusion” narrative admit that similar media campaigns were used during the Democratic primaries in favor of Bernie Sanders. Oddly, however, there has been no organized effort to figure out whether or not Bernie conspired with Putin to destroy Clinton’s chances at the White House. A huge wave of fake news stories originating from eastern Europe began washing over the presidential election months earlier, at the height of the primary campaign. John Mattes, who was helping run the outline campaign for the Democratic candidate Bernie Sanders from San Diego, said it really took off in March 2016. “In a 30-day period, dozens of full-blown sites appeared overnight, running full level productions posts. It screamed out to me that something strange was going on,” Mattes said. Much of the material was untraceable, but he tracked 40% of the new postings back to eastern Europe.

Four of the Facebook members posting virulent and false stories about Clinton (suggesting, for example, that she had profited personally by arming Islamic State extremists) had the same name, Oliver Mitov. They all had a very small number of Facebook friends, including one which all four had in common. When Mattes tried to friend them and contact them there was no reply.

Does anyone still notice the lack of evidence?

• Terrorists in Syria to Stage Provocations to Justify US Strikes – Moscow (Sp.)

According to information in the possession of Russian Foreign Ministry, terrorists in Syria are planning to stage chemical provocations in order to justify US strikes on government forces, Russian Ministry of Foreign Affairs spokeswoman Maria Zakharova said during her weekly presser on Thursday. Russia believes terrorists in Syria plan to stage chemical attacks in order to justify US airstrikes against the Syrian military, Zakharova said. “According to information available [to us], Syrian terrorist groups plan staged provocative actions with the use of chemical poison gases to justify US strikes against the positions of the Syrian government forces,” Zakharova told a weekly briefing.

Daesh has deployed chemical laboratories and special equipment for creating chemical bombs to Deir ez-Zor from Raqqa in Syria, Zakharova revealed. The relocation of the laboratories from Raqqa speaks to the US-led coalition’s “selective reluctance to see facts” and “aiding insurgents,” according to Zakharova. The spokeswoman reiterated that Russia will seek thorough probe of the April 4 incident in Khan Sheikhoun in addition to other ‘chemical’ provocations against the Syrian authorities. “We will continue to consistently seek the most professionally rigorous and politically impartial investigation into the investigation of both the Khan Sheikhoun chemical incident and other persistent chemical provocations against the legitimate Syrian government,” Zakharova said.

Setting the social mood. Robert Prechter can tell you a lot about that. But he sees it as a phenomenon that moves itself.

• Hollywood Promotes War On Behalf Of The Pentagon, CIA and NSA (M.)

When we first looked at the relationship between politics, film and television at the turn of the 21st century, we accepted the consensus opinion that a small office at the Pentagon had, on request, assisted the production of around 200 movies throughout the history of modern media, with minimal input on the scripts. How ignorant we were. More appropriately, how misled we had been. We have recently acquired 4,000 new pages of documents from the Pentagon and CIA through the Freedom of Information Act. For us, these documents were the final nail in the coffin. These documents for the first time demonstrate that the US government has worked behind the scenes on over 800 major movies and more than 1,000 TV titles.

The previous best estimate, in a dry academic book way back in 2005, was that the Pentagon had worked on less than 600 films and an unspecified handful of television shows. The CIA’s role was assumed to be just a dozen or so productions, until very good books by Tricia Jenkins and Simon Willmetts were published in 2016. But even then, they missed or underplayed important cases, including Charlie Wilson’s War and Meet the Parents. Alongside the massive scale of these operations, our new book National Security Cinema details how US government involvement also includes script rewrites on some of the biggest and most popular films, including James Bond, the Transformers franchise, and movies from the Marvel and DC cinematic universes.

A similar influence is exerted over military-supported TV, which ranges from Hawaii Five-O to America’s Got Talent, Oprah and Jay Leno to Cupcake Wars, along with numerous documentaries by PBS, the History Channel and the BBC. National Security Cinema also reveals how dozens of films and TV shows have been supported and influenced by the CIA, including the James Bond adventure Thunderball, the Tom Clancy thriller Patriot Games and more recent films, including Meet the Parents and Salt. The CIA even helped to make an episode of Top Chef that was hosted at Langley, featuring then-CIA director Leon Panetta who was shown as having to skip dessert to attend to vital business. Was this scene real, or was it a dramatic statement for the cameras?

Expect Erdogan to be loud and poresent this weekend around the G20.

• Report In Sweden Claims Erdogan Orchestrated July 15 Coup In Turkey (SCF)

Last year’s failed coup attempt in Turkey is nothing but a false flag orchestrated by Turkey s autocratic President Recep Tayip Erdogan and his henchmen to create a pretext for a mass persecution of critics and opponents in a state of perpetual emergency, a new detailed study titled ‘July 15: Erdogan’s Coup’ by Stockholm Center for Freedom (SCF) concluded. Based on publicly available data, the coup indictments, testimonials in court trials, private interviews, reviews of military expert opinions and other evidence collected by researchers, SCF is fairly confident that this attempt did not even qualify a coup bid in any sense of military mobilization which was unusually limited in numbers, confined in few cities, poorly managed, defied the established practices, tradition, rules of engagement and standard operating procedures in Turkish military.

This was a continuation of a series of false flags that were uncovered in the last couple of years under the authoritarian rule of Erdoan regime and it was certainly the bloodiest one, said Abdullah Bozkurt, the President of SCF. Erdogan appears to have tapped on widely circulated coup rumors in Turkish capital and staged own show to steal wind and set up his opposition for a persecution, he added. Judging from the results of the coup bid, Erdogan won big time by securing imperial presidency, consolidating his gains, stifle the opposition and even launching cross border military incursion into Syria for which he had been itching for too long. No wonder why he immediately called the attempt ‘a gift from God’. The report was originally published in Turkish. SCF plans to release an English edition soon with new changes and updated data.

Shock doctrine. What can they do but leave?

• Three In Four Recent Greek Graduates Work For Less Than €800 A Month (K.)

Almost three in every four (73%) people who graduated after 2011 in Greece collect no more than 800 euros per month, while one in six gets less than 400 euros per month, if they have a job, according to the findings of a survey the Foundation for Economic and Industrial Research (IOBE) presented on Wednesday. That compares with just 24% of pre-2011 graduates who get less than 800 euros per month. In the years of the financial crisis graduates have found it much more difficult to find work, as the unemployment rate among degree-holders soared from 7% in 2009 to 18% in 2016.

Report after report circles around money. Not people.

• EU Calls On Members To Aid Migrants Amid Rising Mediterranean Death Toll (G.)

Brussels will urge European countries to give shelter to more refugees from Africa to ease the pressure on Italy, as record numbers of people attempt the dangerous journey across the Mediterranean. The European Union executive wants all member states – including the UK – to contribute to resettling a total of 37,000 vulnerable people from five north African countries by the end of 2018. Interior ministers meeting in Tallinn on Thursday will be called on by Dmitris Avramopoulos, the EU home affairs commissioner, to make voluntary pledges by the middle of September. The appeal came as Amnesty International released a damning 31-page reportlinking “failing EU policies” to the the rising death toll in the Mediterranean, and shocking abuses faced by refugees and migrants in Libyan detention centres.

The EU resettlement plan is focused on children, as well as victims of people smugglers and torture, from Libya, Egypt, Niger, Sudan and Ethiopia. Most people making the perilous sea crossing from north Africa are deemed to be economic migrants not eligible for international protection. But the EU announced a relocation plan for vulnerable people as part of a package of emergency measures to help ease pressure on Italy. “It can be an important safety valve for people with vulnerabilities,” said an EU source. Frans Timmermans, European commission vice president, has made clear Brexit does not exclude the UK from the 2017-2018 programme, although pledges are voluntary. The plan, which has a strong emphasis on returning unwanted migrants, emerged as it was revealed that EU countries have paid in less than half of the funds promised to help African governments manage migration.

The Africa “trust fund” was announced with fanfare in 2015 to win African support for the deportation of unwanted migrants in Europe. Brussels has contributed €2.6bn (£2.3bn) from the EU budget, but officials are frustrated that national capitals are not digging deeper into their state coffers. Only €90bn of a promised €202bn has so far materialised. The UK has paid in €0.6bn of its promised €3bn, far less than Italy, which has paid €32bn. France, Germany and Spain have put in €3bn each, according to the latest data from the European commission.

The EU will say: but look at all the money we gave! And then blames member states.

• EU Blamed For ‘Soaring’ Migrant, Refugee Death Toll (BBC)

Amnesty International has blamed “failing EU policies” for the soaring death toll among refugees and migrants in the central Mediterranean. In a report, it said “cynical deals” with Libya consigned thousands to the risk of drowning, rape and torture. It said the EU was turning a blind eye to abuses in Libyan detention centres, and was mostly leaving it up to sea rescue charities to save migrants. More than 2,000 people have died in 2017 trying to get to Europe, it said. The EU has so far made no public comments on Amnesty’s report. It comes as interior ministers from the 28-member bloc are meeting in Tallinn, Estonia, to discuss the migrant crisis. They will review a $92m (£71m) action plan unveiled by the European Commission to deal with the issue.

The commission proposes to use more than 50% of the funds to boost the Libyan coastguard’s capacity to stop traffickers launching boatloads of migrants out to sea to be rescued. The rest is to help Italy feed, house and process the migrants who get there. “Rather than acting to save lives and offer protection, European ministers… are shamelessly prioritising reckless deals with Libya in a desperate bid to prevent refugees and migrants from reaching Italy,” said John Dalhuisen, Amnesty’s Europe director. “European states have progressively turned their backs on a search and rescue strategy that was reducing mortality at sea in favour of one that has seen thousands drown and left desperate men, women and children trapped in Libya, exposed to horrific abuses,” he said.