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Paul Merrell

The Trump/Sanders Phenomena | Consortiumnews - 0 views

  • At nearly every juncture, Hillary Clinton has opted for what seemed like the safe play at the time. Indeed, it is hard to think of any case in which she showed anything approaching genuine political courage or statesmanlike wisdom. Here is just a short list of her misjudgments after the Iraq War:–In summer 2006, as a New York senator, Clinton supported Israel’s air war against southern Lebanon which killed more than 1,000 Lebanese. At a pro-Israel rally in New York on July 17, 2006, Clinton shared a stage with Israel’s Ambassador to the United Nations Dan Gillerman, a renowned Muslim basher who proudly defended Israel’s massive violence against targets in Lebanon.“Let us finish the job,” Gillerman told the crowd. “We will excise the cancer in Lebanon” and “cut off the fingers” of Hezbollah. Responding to international concerns that Israel was using “disproportionate” force in bombing Lebanon and killing hundreds of civilians, Gillerman said, “You’re damn right we are.” [NYT, July 18, 2006] Clinton did not protest Gillerman’s remarks.–In late 2006, Clinton fell for the false conventional wisdom that President George W. Bush’s nomination of Robert Gates to be Secretary of Defense was an indication that Bush was preparing to wind down the Iraq War when it actually signaled the opposite, the so-called “surge.” Later, to avoid further offending the Democratic base as she ran for president, she opposed the “surge,” though she later acknowledged that she did so for political reasons, according to Gates’s memoir Duty.
  • In the early months of the Obama administration, with Gates still Defense Secretary and Clinton the new Secretary of State, Gates reported what he regarded as a stunning admission by Clinton, writing: “Hillary told the president that her opposition to the surge in Iraq had been political because she was facing him in the Iowa primary [in 2008]. She went on to say, ‘The Iraq surge worked.’”–In 2009, Clinton joined with Gates and General David Petraeus to pressure President Barack Obama into a similar “surge” in Afghanistan which – like the earlier “surge” in Iraq – did little more than get another 1,000 U.S. soldiers killed along with many more Iraqis and Afghans while extending the bloody chaos in both countries.–Also, in 2009, Clinton supported a right-wing coup in Honduras, overthrowing left-of-center President Manuel Zelaya.–In 2011, Clinton helped spearhead the U.S.-backed “regime change” in Libya, which led to the torture/murder of Libyan leader Muammar Gaddafi as Clinton chuckled, “we came, we saw, he died.” Like the “regime change” in Iraq, the Libyan “regime change” left the once-prosperous nation in bloody anarchy with major gains by Islamic extremists, including the Islamic State.
  • –Also, in 2011, Clinton pressed for a similar “regime change” in Syria adopting the popular though false notion that a “moderate opposition” would neatly fill the void after the ouster of President Bashar al-Assad. The reality was that Al Qaeda and its spin-off, the Islamic State, stood to be the real beneficiaries of the U.S.-supported destabilization of Syria. These Islamic terrorist groups now have major footholds in all three Arab countries where Clinton supported “regime change” – Iraq, Syria and Libya.
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  • Throughout her time as Senator and Secretary of State, Clinton supported the aggressive foreign policy prescriptions of the neoconservatives and their liberal-interventionist allies. In each of these cases, the neocons and liberal hawks were dominating Official Washington’s debate and it would have taken some political courage to stand in their way. Hillary Clinton never did.The enduring mystery with Hillary Clinton is whether she is a true neocon or whether she simply judges that embracing neocon positions is the “safest” course for her career – that by parroting the neocon “group think” she can win praise from the national-security elite and that big donors who favor a hard-line strategy for the Middle East will reward her with campaign contributions.Whatever the case, Clinton has carefully curried favor with key neocons, including consulting with Robert Kagan, a co-founder of the neocon Project for the New American Century, and promoting his wife, Victoria Nuland, making her the State Department spokesperson and putting her on track to become Assistant Secretary of State for European Affairs. In that post, Nuland orchestrated “regime change” in Ukraine, which like other neocon targets has descended into bloody chaos, but this adventure also has precipitated a dangerous showdown with nuclear-armed Russia.
Paul Merrell

12 Banks Reveal 'Living Wills' That Hint Toward a Future Bail-in | nsnbc international - 0 views

  • Twelve major banks have made their living wills open to the public in response to US regulators pushing for more “convincing plans” for self-dismantling should their operations fail.
  • The purpose of living wills is a way “to give bankers and regulators a clearer understanding of a bank’s operations and its assets and liabilities [and] map out the steps the banks would take to distribute large losses among stakeholders.” The Federal Reserve Bank (FRB) and the Federal Deposit Insurance Corp (FDIC) are overseeing the bank’s contingency plans, ensuring that no bank is “too big to fail”. This includes financial institutions with more than $50 billion in assets; as well as non-financial firms that are considered systemically important as understood by the US Department of Treasury (USDT) Financial Stability Oversight Council (FSOC). The banks participating in this exercise include:
  • • JPMorgan Chase & Co • Morgan Stanley • Bank of America • Credit Suisse Group AG • Goldman Sachs Group • Wells Fargo & Co • State Street Corp • Bank of New York Mellon Corp • UBS Group AG • Deutsche Bank AG • Barclays Plc Should another financial crisis rear its head again, these revelations provide investors and traders a better sense of the standing of banks.
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  • Collectively, the banks divulged that they have “stockpiled long-term debt” within holding companies (or the parent company that owns the bank) to make their portfolios appear to be “less complex”. In other words, banks have placed their derivatives (or stockpiled long-term debt) within the main corporation that owns their subsidiaries. The only problem is that if the parent fails, so do its “children”. The bank’s assets could be placed into receivership with the intention of being split up and auctioned off; however some corporations abuse receivership and bankruptcy to make investors and creditors think they are dead in the water only to pull out at the last minute and enjoy large primary debt write-offs. This is a sort of corporate version of playing possum.
  • This classic con tactic would provide the unique advantage of not having to go to the Senate and demand a taxpayer bailout. The banks could simply file for bankruptcy and exert social pressure via public outcry, protests and demands of the people that Congress consider another bailout. In this scenario, the parent company gets saved and not the subsidiaries. This tactic is a reserve version of what happened after the crash in 2008. Regarding the bank’s contingency plans, JPMorgan’s “hypothetical death”would see the bank downsize by a 3rd and provide a resolve for the bank “without systemic disruption or taxpayer support”. Citigroup has proposed shrinking by selling off $300 billion in corporate assets and “cut US retail banking to about $200 billion”; as well as get rid of broker-dealers.
  • Mark Costigilo, spokesperson for Citigroup, explained that should Citigroup go into bankruptcy, their living will “demonstrates that we can do so without the use of taxpayer funds and without adverse systemic impact.” And Bank of America (BoA) stated that their rise out of bankruptcy would involve the unloading of $1.2 trillion in assets; as well as “shedding most of … non-bank operations”. Last year, the major banks were told to revise previously submitted living wills because their plans did not provide a “credible or clear path through bankruptcy that doesn’t require unrealistic assumptions and direct or indirect public support.” All of this adds up to a bail-in, as predicted by economic analyst Jim Sinclair who said: “Bail-ins are coming to North America without any doubt, and will be remembered as the ‘Great Leveling,’ of the ‘great Flushing’ (of Lehman Brothers). Not only can it happen here, but it will happen here. It stands on legal grounds by legal precedent both in the U.S., Canada and the U.K.”
  • Sinclair pointed out: “Bail-ins do not require a crisis to occur and can surface one bank at a time, spread out over years. The major situation is deposits above insurance levels in banks too big to fail. Those deposits are directly in harm’s way.”
Paul Merrell

FBI looking into the security of Hillary Clinton's private e-mail setup - The Washingto... - 0 views

  • The FBI has begun looking into the security of Hillary Rodham Clinton’s private e-mail setup, contacting in the past week a Denver-based technology firm that helped manage the unusual system, according to two government officials. Also last week, the FBI contacted Clinton’s lawyer, David Ken­dall, with questions about the security of a thumb drive in his possession that contains copies of work e-mails Clinton sent during her time as secretary of state. The FBI’s interest in Clinton’s e-mail system comes after the intelligence community’s inspector general referred the issue to the Justice Department in July. Intelligence officials expressed concern that some sensitive information was not in the government’s possession and could be “compromised.” The referral did not accuse Clinton of any wrongdoing, and the two officials said Tuesday that the FBI is not targeting her. Kendall confirmed the contact, saying: “The government is seeking assurance about the storage of those materials. We are actively cooperating.”
  • The inquiries are bringing to light new information about Clinton’s use of the system and the lengths to which she went to install a private channel of communication outside government control — a setup that has emerged as a major issue in her campaign for the Democratic presidential nomination. For instance, the server installed in her Chappaqua, N.Y., home as she was preparing to take office as secretary of state was originally used by her first campaign for the presidency, in 2008, according to two people briefed on the setup. A staffer who was on the payroll of her political action committee set it up in her home, replacing a server that Clinton’s husband, former president Bill Clinton, had been using in the house. The inquiries by the FBI follow concerns from government officials that potentially hundreds of e-mails that passed through Clinton’s private server contained classified or sensitive information. At this point, the probe is preliminary and is focused on ensuring the proper handling of classified material.
Paul Merrell

Hillary admits she was wrong on Iraq war vote - 0 views

  • In a frank admission, Hillary Clinton, a potential presidential candidate, says she ‘got it wrong. Plain and simple’ when she voted as a U.S. senator to authorize the war in Iraq, according to her new memoir. Mrs Clinton’s support, in 2002, for the Iraq War Resolution dogged her unsuccessful 2008 run for President against Barack Obama, who opposed the war from the start. Clinton has distanced herself from her vote — but never in such forceful terms as in her book, ‘Hard Choices,’ which will be officially released on June 10.‘Many senators came to wish they had voted against the resolution. I was one of them,’ she writes, according to CBS News, which obtained an advance copy and posted excerpts on its website. ‘As the war dragged on, with every letter I sent to a family in New York who had lost a son or daughter, a father or mother, my mistake (became) more painful,’ Clinton adds.
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    Let's reword that first quote more accurately: "I gladly stampeded with a majority of the Senate instead of waiting until the facts were in. Obviously, I am unfit to become our nation's Commander in Chief because I act on the basis of false pro-war propaganda instead of reality." 
Paul Merrell

Hillary Clinton's Real Scandal Is Honduras, Not Benghazi - 0 views

  • What beats me is why more Democrats aren’t deeply troubled by the legacy of Clinton’s foreign policy blunder in Honduras. Maybe you’ve forgotten what happened in that small country in the first year of the Obama administration — more on that in a moment. But surely you’ve noticed the ugly wave of xenophobia greeting a growing number of Central American child refugees arriving on our southern border. Some of President Barack Obama’s supporters are trying to blame this immigration crisis on the Bush administration because of an anti-trafficking law George W. signed in 2008 specifically written to protect Central American children that preceded an uptick in their arrivals. But which country is the top source of kids crossing the border? Honduras, home to the world’s highest murder rate, Latin America’s worst economic inequality, and a repressive U.S.-backed government. When Honduran military forces allied with rightist lawmakers ousted democratically elected President Manuel Zelaya in 2009, then-Secretary of State Clinton sided with the armed forces and fought global pressure to reinstate him.
  • Washington wields great influence over Honduras, thanks to the numerous military bases built with U.S. funds where training and joint military and anti-drug operations take place. Since the coup, nearly $350 million in U.S. assistance, including more than $50 million in military aid has poured into the country. That’s a lot of investment in a nation where the police, the military, and private security forces are killing people with alarming frequency and impunity, according to Human Rights Watch. In short, desperate Honduran children are seeking refuge from a human rights nightmare that would cast a dark cloud over Clinton’s presidential bid right now if the media were paying any attention. That wouldn’t give Republicans a big advantage, of course. Until they stop alienating a majority of female voters and communities of color, I find it hard to see the party of Mitt Romney and John McCain winning the White House.
  • Given the Democratic Party’s demographic edge, progressives have nothing to lose by seizing on the GOP field’s weakness and pressing for a viable alternative to another Clinton administration. Senator Elizabeth Warren could prove a contender. Unfortunately, the consumer-rights firebrand and Massachusetts Democrat lacks any foreign policy experience. And foreign policy is no afterthought these days. Israel — the recipient of $3.1 billion a year in U.S. military aid — is waging a ground war in Gaza, and the stakes in the Russia-Ukraine conflict just grew following the downing of that Malaysia Airlines jet. Plus, Iraq is growing more violent and unstable once more. On all these issues, Clinton is more hawkish than most of the Democratic base. But other Democrats with a wide range of liberal credentials and foreign policy expertise are signaling some interest in running, especially if Clinton ultimately sits out the race. Even if Clinton does win in 2016, a serious progressive primary challenge could help shape her presidency. As more and more Honduran kids cross our border in search of a safe haven, voters should take a good look at her track record at the State Department and reconsider the inevitability of another Clinton administration.
Paul Merrell

Hillary Clinton undercut on Libya war by Pentagon and Congress, secret tapes reveal - W... - 0 views

  • First of three partsTop Pentagon officials and a senior Democrat in Congress so distrusted Secretary of State Hillary Rodham Clinton’s 2011 march to war in Libya that they opened their own diplomatic channels with the Gadhafi regime in an effort to halt the escalating crisis, according to secret audio recordings recovered from Tripoli.The tapes, reviewed by The Washington Times and authenticated by the participants, chronicle U.S. officials’ unfiltered conversations with Col. Moammar Gadhafi’s son and a top Libyan leader, including criticisms that Mrs. Clinton had developed tunnel vision and led the U.S. into an unnecessary war without adequately weighing the intelligence community’s concerns.
  • SEE ALSO: Hillary Clinton’s ‘WMD’ moment: U.S. intelligence saw false narrative in Libya “You should see these internal State Department reports that are produced in the State Department that go out to the Congress. They’re just full of stupid, stupid facts,” an American intermediary specifically dispatched by the Joint Chiefs of Staff told the Gadhafi regime in July 2011, saying the State Department was controlling what intelligence would be reported to U.S. officials.At the time, the Gadhafi regime was fighting a civil war that grew out of the Arab Spring, battling Islamist-backed rebels who wanted to dethrone the longtime dictator. Mrs. Clinton argued that Gadhafi might engage in genocide and create a humanitarian crisis and ultimately persuaded President Obama, NATO allies and the United Nations to authorize military intervention.
  • Mr. Kucinich, who challenged Mrs. Clinton and Barack Obama for the 2008 Democratic presidential nomination, acknowledged that he undertook his own conversations with the Gadhafi regime. He said he feared Mrs. Clinton was using emotion to sell a war against Libya that wasn’t warranted, and he wanted to get all the information he could to share with his congressional colleagues.“I had facts that indicated America was headed once again into an intervention that was going to be disastrous,” Mr. Kucinich told The Times. “What was being said at the State Department — if you look at the charge at the time — it wasn’t so much about what happened as it was about what would happen. So there was a distortion of events that were occurring in Libya to justify an intervention which was essentially wrong and illegal.”Mr. Kucinich wrote a letter to Mr. Obama and Mrs. Clinton in August explaining his communications in a last-ditch effort to stop the war.
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    This series should be the end of Hillary's plans to run for the presidency in 2016. Unfortunately, it probably won't stop her and the mere fact that she is female and a Clinton is likely to get her elected. But this article makes a compelling case that she was not even fit to be Secretary of State. This article is seven pages. I'm looking forward to the next in the series. 
Paul Merrell

Hillary Clinton tackles ISIL, previews economic message - Gabriel Debenedetti - POLITICO - 0 views

  • Hillary Clinton on Tuesday dismissed the idea of putting American or Western troops on the ground to combat the Islamic State militant group, instead favoring “air force, but also army soldiers from the region, and particularly from Iraq,” in fighting what she said would be a “long-term struggle.” The former secretary of state also said that she was “obviously” considering a run for president in 2016, but that her decision would come “all in good time.”
  • Clinton said the National Security Agency should be more transparent about its activities, insisted that she “can never condone” the actions of NSA leaker Edward Snowden, and offered support for net neutrality. She also spoke at length about the important role women can play in the technology industry, intertwining that theme with an economic one. On the effort against ISIL, Clinton suggested during the Q&A with journalist Kara Swisher that there was little use in inserting U.S. combat troops into the fight and essentially backed the president’s strategy so far. “It’s a very hard challenge, because you can’t very well put American or Western troops in to fight this organism,” she said, in her clearest statement yet on the topic. “You have to use, not only air force but also army soldiers from the region and particularly from Iraq. … A lot of the right moves are being made, but this is a really complicated and long-term problem.”
  • While lauding the technology field in general, Clinton also was careful to touch on subjects that can be sensitive in any industry, including rising CEO pay. She also called for a higher minimum wage, pay fairness, and paid leave policies.
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  • And while Clinton did not explicitly mention her political future during her speech, she did nod to her 2008 concession speech that mentioned cracks in the glass ceiling by saying that now it is time to “crack every last glass ceiling.”
  • The likely Democratic 2016 front-runner, who has been criticized by Republicans for her lack of public appearances in recent weeks, is scheduled for at least half a dozen high-profile events between now and March 23, including some highly paid speeches and one speech at a New York gala for her family’s foundation. The foundation has been under scrutiny for accepting funds from foreign governments since Clinton left the State Department in 2013. Clinton’s schedule features multiple events that will draw attention to her work on women’s rights, which is expected to be a major theme for her 2016 campaign.
Paul Merrell

The Con-man Cornered: Obama and the Democratic Debacle of 2014 | Global Research - 0 views

  • The meteoric rise to power of Barack Obama in 2008 was propelled by one of the greatest demagogic US Presidential campaigns of all time: 
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    Incisive analysis of the present state of government in our nation's capital, albeit from a progressive's perspective. 
Paul Merrell

Hillary Clinton Will Run for President in 2016 - NYTimes.com - 0 views

  • Hillary Rodham Clinton will seek the presidency for a second time, one of her top advisers said Sunday, ending two years of speculation and coy denials and immediately establishing herself as the likely 2016 Democratic nominee.The announcement came in emails from John Podesta, Mrs. Clinton’s campaign chairman, to donors and others.“I wanted to make sure you heard it first from me – it’s official: Hillary’s running for president,” the email reads. It goes on to say that Mrs. Clinton will soon meet with voters in Iowa and will host a formal kickoff event some time next month.The announcement effectively began what could be one of the least contested races, without an incumbent, for the Democratic presidential nomination in recent history — a stark contrast to the 2008 primaries, when Mrs. Clinton, the early front-runner, ended up in a long and expensive battle won by Barack Obama. It could also be the first time a woman captures a major party’s nomination.
Paul Merrell

If Elizabeth Warren Were Running for President, This Would Be Her Agenda | The Nation - 0 views

  • If Elizabeth Warren ran for president, a key part of her campaign—if not the centerpiece—would likely involve how to restructure the financial sector in a less dangerous and more productive way. Dodd-Frank was by many accounts a good start, but it’s clear the economy is still over-financialized and too-big-to-fail banks continue to pose an existential threat. Warren isn’t running for president, but she unveiled that exact agenda in a sweeping speech Wednesday in a conference at the Levy Institute in Washington. It advocated an array of specific, often ambitious policy proposals, many of which have circulated in Washington for years and that Warren, at various times, has already called for. But tied together in one place, and packaged as a clear call for structural and not just technocratic changes, a blueprint emerged for how Warren thinks Democrats should attack continued financial reform. Whether purposeful or not, the speech was timed exactly to start of Hillary Clinton’s 2016 presidential campaign.
  • Her ideas fit into four basic categories: first, getting tougher on bad financial actors, particularly big banks, and presenting them with actual legal accountability for malfeasance. Second, Warren outlined how to change the basic structure of the country’s largest financial institutions so their very existence doesn’t threaten the economy nor taxpayer money via inevitable bailouts. Third, she outlined how to change tax policies that incentivize financial risk-taking and instability. And finally, Warren called for tougher regulations on the shadow-banking sector that was a huge contributor to the 2008 crash and which remained largely untouched by Dodd-Frank.
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    Nice set of points for financial reform activists to use in forcing Hillary to take positions.
Paul Merrell

Financiers linked to George Soros donate to Kasich campaign - RT USA - 0 views

  • Fresh off a second-place primary finish in New Hampshire, Republican presidential candidate John Kasich has come under more scrutiny, particularly for donations to his PAC New Day for America made by two fund managers who made billions for George Soros. Scott Bessent and Stanley Druckenmiller contributed $588,375 to the Ohio governor’s “soft money” fund, according to Federal Election Commission records.Druckenmiller donated a total of $103,375 to Jeb Bush’s Super PAC Right to Rise and $100,000 to America Leads, a PAC supporting New Jersey Governor Chris Christie, who dropped out of the race after a poor showing in Tuesday’s primary.Bessent was Soros’s chief investment manager until December of last year, while Stanley Druckenmiller manages a $4.5 billion hedge fund in which $2 billion of Soros’ money is invested.
  • Druckenmiller was lead fund manager for Soros from 1998 to 2000, and together they “broke” the Bank of England in 1992 when Soros dumped £10 billion, leading to the currency’s devaluation and $1 billion in profit for him.Ohio Governor John Kasich came in second in the New Hampshire primary with 15.8 percent of the vote, edging out Ted Cruz with 11.7, but falling well-behind Donald Trump’s 35.3.Kasich spent 18 years in Congress before becoming a managing director for Lehman Brothers from 2001 until their collapse in 2008. He also hosted a program for the Fox News Channel.These donations have been getting a lot of attention because Soros is usually known for his support of Democratic candidates and progressive causes.
Paul Merrell

Ron Paul Slams Cruz And Hillary: They Are Both "Owned By Goldman" | Zero Hedge - 1 views

  • Now that Rand Paul is out of the race for the White House, Politico's Eliza Collins reports that his father Ron Paul, who ran in 2008 and 2012, isn't impressed by Ted Cruz's attempts to pick up the "free market" libertarian banner. “You take a guy like Cruz, people are liking the Cruz — they think he’s for the free market, and [in reality] he’s owned by Goldman Sachs. I mean, he and Hillary have more in common than we would have with either Cruz or Trump or any of them so I just don’t think there is much picking,” Paul said of the Texas senator on Fox Business’ “Varney & Company" on Friday.
  • Surprisingly, the elder Paul seemed more attracted to the views of Vermont Sen. Bernie Sanders, who is giving Hillary Clinton a run for her money in the Democratic primary. “On occasion, Bernie comes up with libertarian views when he talks about taking away the cronyism on Wall Street, so in essence he’s right, and occasionally he voted against war,” the former Texas congressman said when asked if there was a candidate who was truly for the free market. "It's hard to find anybody -- since Rand is out of it -- anybody that would take a libertarian position, hardcore libertarian position on privacy, on the war issue and on economic policy," Paul added. “So I always say: You can search for a long time, but you’re not gonna find anybody in the Republican or Democratic primary that even comes slightly close to ever being able to claim themselves a libertarian,” he concluded.
Paul Merrell

Occupy Hillary Clinton's Wall Street Speeches. What Did She Tell the Banks? | Global Re... - 0 views

  • Hillary Clinton refuses to make public the transcripts of her speeches to big banks, three of which were worth a total of $675,000 to Goldman Sachs. She says she would release the transcripts “if everybody does it, and that includes Republicans.” After all, she complained, “Why is there one standard for me, and not for everybody else?” As the New York Times editorial board pointed out, “The only different standard here is the one Mrs. Clinton set for herself, by personally earning $11 million in 2014 and the first quarter of 2015 for 51 speeches to banks and other groups and industries.” Hillary is not running in the primaries against Republicans, who, the Times noted, “make no bones about their commitment to Wall Street deregulation and tax cuts for the wealthiest Americans.”
  • She is running against Bernie Sanders, “a decades-long critic of Wall Street excess who is hardly a hot ticket on the industry speaking circuit,” according to the Times. Why do voters need to know what Hillary told the banks? Because it was Wall Street that was responsible for the 2008 recession, making life worse for most Americans. We need to know what, if anything, she promised these behemoths. I Scratch Your Back, You Scratch Mine Hillary has several super PACs, which have recently donated $25 million to her campaign, $15 million of which came from Wall Street. Big banks and large contributors don’t give their money away for nothing. They expect that their interests will be well served by those to whom they donate. Hillary recently attended an expensive fundraiser at Franklin Square Capital, a hedge fund that gives big bucks to the fracking industry. Two weeks later, Hillary’s campaign announced her continuing support for the production of natural gas, which comes from fracking. Bernie opposes fracking. He said, “Just as I believe you can’t take on Wall Street while taking their money, I don’t believe you can take on climate change effectively while taking money from those who would profit off the destruction of the planet.”
Paul Merrell

Clinton Tops List of Arms Company Donations | News | teleSUR English - 0 views

  • Hillary Clinton has received more money from arms and military service companies than any other candidate during the 2016 presidential campaign, data from Open Secrets shows. All but one of the world’s 10 biggest arms producers have contributed to Clinton’s previous campaigns, giving her — along with the top Republican receiver Ted Cruz — a significant margin over the other candidates. The numbers, collected by the Federal Election Commission and compiled by Open Secrets, also reveal that Rand Paul and Bernie Sanders make the list of top 20 senators and top six presidential candidates to receive money from arms and defense companies. Most of the funding is channeled through Political Action Committees, which have no limits to how much they donate. About 18 percent comes from individual contributions, totaling almost US$10 million between all of the companies.
  • A report released Sunday by the Stockholm International Peace Research Institute showed that while U.S. arms sales have slowed, U.S.-based Lockheed Martin’s profits soared in 2014. Overall sales rose steadily until the financial crisis of 2008, when they mostly stabilized. Sunday’s report also indicates that the U.S. accounts for a staggering 54 percent market share of the global arms market. The United Kingdom has the second largest market share, with 10.4 percent. Russia has a market share of 10.2 percent, while France has a market share of 5.6 percent. The world’s top 10 arms companies are based in the U.S. and Western Europe, according to the report. Among these are Lockheed Martin, Boeing and BAE Systems, who make up the top three companies in terms of global market share.
Paul Merrell

Wall Street: The Trump-China missing link - RT Op-Edge - 0 views

  • The yuan is about to enter the IMF’s basket of reserve currencies this coming Saturday - alongside the US dollar, pound, euro and yen. This is no less than a geoeconomic earthquake. Not only does this represent yet another step in China’s irresistible path towards economic primacy; the Chinese currency’s inclusion in the Special Drawing Rights (SDR) basket will also lead central banks and hyper-wealthy funds – especially from the US – to increasingly buy more Chinese assets.At the first US presidential debate, Donald Trump took no prisoners, criticizing China’s currency manipulation. This is what he said:“You look at what China’s doing to our country in terms of making our product, they’re devaluing their currency and there’s nobody in our government to fight them… They’re using our country as a piggy bank to rebuild China, and many other countries are doing the same thing.”
  • Well, China is not “making our product”; the manufacturing process is Made in China – then exported to the US. Most of the profits benefit US corporations – everything from design, licensing and royalties to advertising, financing and retail margins. If the mantras manage to spell out a partial truth - the US has lost manufacturing jobs to China, China is the “factory of the world” – they don't spell out the hidden truth that those who profit are essentially major corporations.China does not “devalue their currency”; the People’s Bank of China periodically adjusts the yuan according to a very narrow band. The major practitioners of quantitative easing (QE) are actually the US, as well as Japan and the European Central Bank (ECB). And the currency of global consumer goods manufacturing continues to be the US dollar, not the yuan.
  • Beijing also is not “using our country as a piggy bank to rebuild China.” This is all about balance of payments. What US consumers spend on Made in China products – many of them delocalized by US corporations – is pumped back to the US as capital inflows that keep interest rates down and help to support the Empire of Chaos’s global hegemony.
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  • For all his incapacity to formulate thoughts above the language skills of a third grader, Trump has been piling up astonishing proposals that resonate wildly, way beyond the “basket of deplorables” spectrum.
  • The bottom line is that to recover US manufacturing jobs – as Trump has been forcefully promising – he will have to stare down the whole Wall Street finance oligarchy.So no wonder these oligarchs – responsible for shipping all those US manufacturing jobs to Asia and lavishly profiting from bailouts to the 'Too Big To Fail' racket – hate him with all their golden-plated guts.
  • Trump’s attention span is notoriously minimalist. If his advisers managed to imprint – tweet? - a few one-liners on his brain, he would be able to explain to US public opinion how the US-China game is really played, something that all relevant parties in both nations know by heart.And the – crucial - missing link in the whole game is Wall Street.This is how it works.
  • He is against Cold War 2.0 and the pivot to Asia, when he says “wouldn’t it be nice to get along with Russia and China for a change?”He no less than pre-empted WWIII when he said he would be against a US nuclear first-strike.He totally abhors global “free trade” – from NAFTA to TPP and TTIP - because it has “hollowed out the lives of American workers”, as US corporations (under Wall Street’s “incentive”) delocalize and then import back into the US tariff-free.
  • Trump was even open to nationalizing Wall Street banks after the 2008 financial crisis.
  • So we’re faced with the ultimate surrealist spectacle of a billionaire denouncing corporate globalization, which has been responsible for stripping the US lower middle classes of countless, decent blue-collar jobs and social benefits – not to mention turning them into hostages of rotting public infrastructure. And all that with absolutely no one among the US establishment condemning the most astonishing wealth transfer to the 0.0001% in history.If in the next two presidential debates Trump points to the crucial missing link in the whole plot – Wall Street - he might as well lock on as a surefire winner.
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