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Gary Edwards

Derivatives - The $600 Trillion Time Bomb Set to Explode | InvestorPlace - 0 views

www.investorplace.com/...llion-time-bomb-set-to-explode

Banksters Derivative-time-bomb financial-collapse

shared by Gary Edwards on 19 Oct 11 - No Cached
  • The world’s gross domestic product (GDP) is only about $65 trillion, or roughly 10.83% of the worldwide value of the global derivatives market, according to The Economist. So there is literally not enough money on the planet to backstop the banks trading these things if they run into trouble.
  • Gary Edwards on 19 Oct 11
     
    Pay Attention Alert!  This is why the Banksters are hoarding cash and not lending ...... excerpt:  Do you want to know the real reason banks aren't lending and the PIIGS have control of the barnyard in Europe? It's because risk in the $600 trillion derivatives market isn't evening out. To the contrary, it's growing increasingly concentrated among a select few banks, especially here in the United States. In 2009, five banks held 80% of derivatives in America. Now, just four banks hold a staggering 95.9% of U.S. derivatives, according to a recent report from the Office of the Currency Comptroller. The four banks in question are JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS). Derivatives played a crucial role in bringing down the global economy, so you would think that the world's top policymakers would have reined these things in by now - but they haven't. Instead of attacking the problem, regulators have let it spiral out of control, and the result is a $600 trillion time bomb called the derivatives market.
Gary Edwards

Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge - 0 views

www.zerohedge.com/...14-forecast-burning-down-house

Banksters

shared by Gary Edwards on 08 Jan 14 - No Cached
  • Gary Edwards on 08 Jan 14
     
    Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.
Paul Merrell

The Western Alliance Is Crumbling: EU Is Abandoning U.S. on Overthrowing Assad | Global... - 0 views

www.globalresearch.ca/...5479566

war & peace Syria Russia Lebanon E.U. refugees TPP

shared by Paul Merrell on 04 Oct 15 - No Cached
  • Europe is being overrun by refugees from American bombing campaigns in Libya and Syria, which created a failed state in Libya, and which threaten to do the same in Syria. Europe is thus being forced to separate itself from endorsing the U.S. bombing campaign that focuses against the Syrian government forces of the secular Shiite Syrian President Bashar al-Assad, instead of against his fundamentalist Sunni Islamic opponents, the jihadist groups (all of which are Sunni), such as ISIS, and Al Qaeda in Syria (al-Nusra).
  • Russia announced on October 2nd that their bombing campaign against America’s allies in Syria — ISIS and Al Nusra (the latter being Al Qaeda in Syria) — will intensify and will last “three or four months.” U.S. President Barack Obama is insisting upon excluding Russia from any peace talks on Syria; the U.S. will not move forward with peace talks unless Syria’s President Bashar al-Assad first steps down. But Russia is the only serious military power against the jihadists who are trying to defeat Assad, and Russia is now committing itself also to providing Lebanon with weapons against the jihadists, who are America’s allies in Lebanon too.
  • That’s hardly the only ‘legacy’ issue for Obama — his war against Russia, via overthrowing Gaddafi, then Yanukovych, and his still trying to overthrow Assad — which is now forcing the break-up of the Western Alliance, over the resulting refugee-crisis. An even bigger such conflict within the Alliance concerns Obama’s proposed treaty with European states, the TTIP, which would give international corporations rights to sue national governments in non-appealable global private arbitration panels, the dictates from which will stand above any member-nation’s laws. Elected government officials will have no control over them. This supra-national mega-corporate effort by Obama is also part of his similar effort in his proposed TPP treaty with Asian nations, both of which are additionally aimed to isolate from international trade not just Russia, but China, so as to leave America’s large international corporations controlling virtually the entire world. As things now stand regarding these ‘trade’ deals, Obama will either need to eliminate some of his demands, or else the European Commission won’t be able to muster enough of its members to support Obama’s proposed treaty with the EU, the TTIP (Transatlantic Trade and Investment Partnership). Also, some key European nations might reject Obama’s proposed treaty on regulations regarding financial and other services: TISA (Trade In Services Agreement). All three of Obama’s proposed ‘trade’ deals, including the TPP (Trans-Pacific Partnership) between the U.S. and Asian countries, are the actual culmination of Obama’s Presidency, and they’re all about far more than just trade and economics. The main proposed deal with Europe might now be dead.
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  • Thirdly, I am opposed to the signing of an agreement with a power that legalizes widespread and systematic spying on my fellow European citizens and European businesses. Edward Snowden’s revelations are instructive in this regard. As long as the agreement does not protect the personal data of European and US citizens, it cannot be signed. Fourth, the United States proposes a transatlantic common financial space, but they adamantly refuse a common regulation of finance, and they refuse to abolish systematic discrimination by the US financial markets against European financial services. They want to have their cake and eat it too: I object to the idea of a common area without common rules, and I reject commercial discrimination. Fifth, I object to the questioning of European health protections. Washington must understand once and for all that notwithstanding its insistence, we do not want our plates or animals treated with growth hormones nor products derived from GMOs, or chemical decontamination of meat, or of genetically modified seeds or non-therapeutic antibiotics in animal feed. Sixth, I object to the signing of an agreement if it does not include the end of the US monetary dumping. Since the abolition of the gold convertibility of the dollar and the transition to the system of floating exchange rates, the dollar is both American national currency and the main unit for exchange reserves in the world. The Federal Reserve then continually practices monetary dumping, by influencing the amount of dollars available to facilitate exports from the United States. China proposes to eliminate this unfair advantage by making “special drawing rights” of the IMF the new global reference currency. But as things now stand, America’s monetary weapon has the same effect as customs duties against every other nation. [And he will not sign unless it’s removed.]
  • On September 27th, France’s newspaper SouthWest featured an exclusive interview with Matthias Fekl, France’s Secretary of State for Foreign Trade, in which he said that “France is considering all options, including outright termination of negotiations” on the TTIP. He explained that, ever since the negotiations began in 2013, “These negotiations have been and are being conducted in a total lack of transparency,” and that France has, as of yet, received “no serious offer from the Americans.” The reasons for this stunning public rejection had probably already been accurately listed more than a year ago. After all, France has, throughout all of the negotiations, received “no serious offer from the Americans”; not now, and not back at the start of the negotiations in 2013. The U.S. has been steadfast. Jean Arthuis, a member of the European Parliament, and formerly France’s Minister of Economy and Finance, headlined in Le Figaro, on 10 April 2014, “7 good reasons to oppose the transatlantic treaty”. There is no indication that the situation has changed since then, as regards the basic demands that President Obama is making. Arthuis said at that time: First, I am opposed to private arbitration of disputes between States and businesses. [It would place corporate arbitrators above any nation’s laws and enable them to make unappealable decisions whenever a corporation sues a nation for alleged damages for alleged violations of its rights by that nation of the trade-treaty.] Such a procedure is strictly contrary to the idea that I have of the sovereignty of States. … Secondly, I am opposed to any questioning of the European system of appellations of origin. Tomorrow, according to the US proposal, there would be a non-binding register, and only for wines and spirits. Such a reform would kill many European local products, whose value is based on their certified origin.
  • Seventh, beyond the audiovisual sector alone, which is the current standard of government that serves as a loincloth to its cowardice on all other European interests in these negotiations, I want all the cultural exceptions prohibited. In particular, it is unacceptable to allow the emerging digital services in Europe to be swept up by US giants such as Google, Amazon or Netflix. They’re giant absolute masters in tax optimization, which make Europe a “digital colony.” President Obama’s negotiator is his close personal friend, Michael Froman, a man who is even trying to force Europe to reduce its fuel standards against global warming and whose back-room actions run exactly contrary to Obama’s public rhetoric. Froman and Obama have been buddies since they worked together as editors on Harvard Law Review. He knows what Obama’s real goals are. Also: “Froman introduced Mr. Obama to Robert E. Rubin, the former Treasury secretary,” who had brought into the Clinton Administration Timothy Geithner and Larry Summers, and had championed (along with them) the ending of the regulations on banks that the previous Democratic President, Franklin Delano Roosevelt, had put into place. (President Bill Clinton signed that legislation just as he left office, and this enabled the long process to occur with MBS securities and with financial derivatives, which culminated with the 2008 crash, and this same legislation also enabled the mega-banks to get bailed out by U.S. taxpayers for their crash — on exactly the basis that FDR had outlawed.)
  • Froman has always been a pro-mega-corporate, pro-mega-bank champion, who favors only regulations which benefit America’s super-rich, no regulations which benefit the public. Froman’s introducing the Wall Street king Robert Rubin to the then-Senator Obama was crucial to Obama’s becoming enabled to win the U.S. Presidency; Robert Rubin’s contacts among the super-rich were essential in order for that — Obama’s getting a real chance to win the Presidency — to happen. It enabled Obama to compete effectively against Hillary Clinton. Otherwise, he wouldn’t have been able to do that. His winning Robert Rubin’s support was crucial to his becoming President. The chances, that President Obama will now be able to get the support from any entity but the U.S. Congress for his proposed TTIP treaty with Europe, are reducing by the day. Europe seems to be less corrupt than is the United States, after all. The only independent economic analysis that has been done of the proposed TTIP finds that the only beneficiaries from it will be large international corporations, especially ones that are based in the United States. Workers, consumers, and everybody else, will lose from it, if it passes into law. Apparently, enough European officials care about that, so as to be able to block the deal. Or else: Obama will cede on all seven of the grounds for Europe’s saying no. At this late date, that seems extremely unlikely.
Paul Merrell

Syria may turn out to be Obama's defining legacy | Asia Times - 0 views

www.atimes.com/ay-turn-obamas-defining-legacy

Auction 2016 war & peace U.S.-foreign-policy Syria Russia Aleppo

shared by Paul Merrell on 10 Oct 16 - No Cached
  • By M.K. Bhadrakumar October 5, 2016 9:54 AM (UTC+8) Share 0 Tweet Print Email Comment 0 Asia Times is not responsible for the opinions, facts or any media content presented by contributors. In case of abuse, click here to report. On Monday, the Barack Obama administration fulfilled its week-old threat to suspend bilateral talks with Russia over the Syrian crisis. Does this signal that the dogs of war are about to be unleashed? The thought may seem preposterous but tensions are palpable. US spy planes are spotted ever more frequently in the Eastern Mediterranean and the Black Sea over Russian bases, especially Tartus and Hmeimim in Syria.
  • Russia has deployed SA-23 Gladiator anti-missile and anti-aircraft systems in Syria, the first-ever such deployments outside Russia. Western analysts see it as a pre-emptive step to counter any American cruise missile attack. Russia is not taking any chances.
  • Moscow factors in that the US may use some rebel groups to ensure that Russian “body bags” are sent to Moscow, as threatened explicitly by US state department spokesman John Kirby last week. Moscow suspects American involvement in the missile attack on the Russian embassy in Damascus — “Brits and Ukrainians clumsily helped the Americans”, a Russian statement in New York said on Tuesday. Indeed, passions are running high. There could be several dozen western intelligence operatives trapped with the rebel groups in east Aleppo. Clearly, the turning point was reached when the US and western allies undertook a fierce air attack on the Syrian army base at Deir Ezzor lasting an hour and killing 62 government troops. The US explanation of that being an accident lost credibility, since within an hour of the airstrike, extremist groups of al-Qaida followed up with ground attack as if acting in tandem.
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  • Trust has consequently broken down. The Russians are convinced that the US was never really interested in separating the moderate groups from extremists despite repeated promises, because Washington sees a use for al-Qaida affiliates, which happen to be the only capable fighting force to push the ‘regime change agenda in Syria. Put differently, Russians are inclined to agree with what Tehran has been saying all along. Moscow, therefore, switched tack and put its resources behind the Syrian operations to capture the strategic city of Aleppo and the military campaign is within sight of victory.
  • That is, unless there is US intervention in the coming days to tilt the military balance in favor of extremist groups trapped in the eastern districts of Aleppo with supply lines for reinforcements cut.
  • With no prospect of getting reinforcements, facing relentless air and ground attacks from the north and south, the rebels are staring at a hopeless battle of attrition. The point is, with the fall of Aleppo, the Syrian war becomes a residual military operation to purge the al-Qaida affiliate Jubhat al-Nusra from Idlib province as well, which means regime forces would secure control over the entire populous regions of Syria, all main cities and the entire Mediterranean coast. In a nutshell, the Syrian war ends with President Bashar al-Assad ensconced in power. The specter of “total victory” for Assad haunts Washington. It explains the string of vituperative statements against Moscow, betraying a high level of frustration. Theoretically, Obama can order missile attacks on the victorious Syrian government forces, but that will be like pouring oil on fire. On Saturday, the Russian Defense Ministry warned the Pentagon that any US military intervention to remove Assad would result in “terrible tectonic shifts” across the region.
  • In considering the war option, Obama has three things to take into account. First, Washington’s equations with Ankara and Riyadh are hugely uncertain at the moment and both regional allies are key partners in Syria.
  • Second, Turkish President Recep Erdogan is unlikely to gamble on another confrontation with Russia when his country’s legitimate interests in Syria can be secured by working in tandem with President Vladimir Putin at the negotiating table.
  • Third, and most important, Obama is unlikely to lead his country into a war without any clear-cut objective to realize when the curtain is coming down on his presidency. In this current state of play, Assad stands between the West and the deluge.
  • But what rankles is that Russian victory in Syria would mark the end of western hegemony over the Middle East, and historians are bound to single it out as the defining foreign-policy legacy of Obama’s presidency. Certainly, Moscow cannot but be sensing this. Russia may offer at some point a face-saving exit strategy — but only after the capture of Aleppo. After all, there is really no hurry between now and January to salvage Russia-US ties.
  • The debris of Russia’s ties with the US lies all around and no one knows where to begin a clean-up. Relations got worse when Obama called the Kremlin leadership “barbarous” in regard to Aleppo. Then, on Monday, Moscow explained its decision to suspend cooperation in getting rid of excess plutonium (that could be used to make nuclear weapons) as being due to “the emergence of a threat to strategic stability and as a result of unfriendly actions” by the US. This was a decision that Moscow could have deferred until Obama left office. After all, it meant suspending the sole Russian-American nuclear security initiative carrying Obama’s imprimatur. However, Moscow couldn’t resist depicting a Nobel Prize winner who promised to ensure “America’s commitment to seek the peace and security of a world without nuclear weapons,” as someone who actually enhanced the role of nuclear weapons in the security strategy of the US.
  • Paul Merrell on 10 Oct 16
     
    If you haven't been following the Syrian War in the last couple of weeks, you'd have missed that the U.S. government has gone bats**t crazy lately, since the ceasefire agreement Kerry negotiated with Lavrov fell apart because the U.S. couldn't deliver its fundamental promise to separate the "moderate" Syrian opposition from Al-Nusrah and ISIL The U.S. problem was two-fold: [i] the Pentagon mutinied and ended all talk of intelligence sharing with Russia by bombing a Syrian Army unit, killing over 60 and wounding over 100, followed within minutes by a coordinated Al-Nusra ground attack; and [ii] all the "moderate Syrian opposition groups refused the U.S. instruction to separate from the head-choppers, saying that ISIL and Al-Nusrah were their brothers-in-arms. (In fact, there are no "moderate" Syrian rebels; just agents of ISIL and Al-Nusrah who fly a different flag when it's time to pick up their supplies and ammunition from the U.S.) What's the Empire of Chaos to do when the mercenaries refuse to obey orders? So with all major elements of al-Nurah surrounded in an East Aleppo noose with the knot rapidly tightening (Aleppo will be taken before Hillary takes her throne), it's up to Obama to decide whether to unleash the Pentagon to save the CIA's al-Nusrah from destruction. He can't kick that can down the road to Hillary (or Donald). MSM is flooding its viewership with anti-Putin propaganda of the most vituperative kind as well as horror stories about all those poor freedom fighters and their kids being ruthlessly killed by Russia in East Aleppo. James Clapper dutifully trotted out an announcement of sorts blaming the Russian government for attempting to hack the U.S. election process, so Hillary could red-bait Donald's "I'd get along with Putin" position in the last debate. The choice must be painful for Obama. Does he want his legacy to be the President who lost the Middle East or the President who waged a war of aggression to protect al-Qaeda from destructio
Paul Merrell

The United Nations' Response to ISIS Beheadings in Syria. "Resolutions" Calling for "Re... - 0 views

www.globalresearch.ca/...5423221

war & peace Syria ISIL Foley-family blackmail ransom

shared by Paul Merrell on 08 Jan 15 - No Cached
  • Following the gruesome beheading of James Foley, by a terrorist group called “The Islamic State of Iraq and Syria,” and the group’s threats to behead other captives in August 2014, The New York Times headline on page A19 reads, with Kafkaesque “logic”:  “U.S. Invokes Defense of Iraq in Legal Justification of Syria Strikes.”  US/NATO had failed, for three years, to get UN Security Council authorization for military action against Syria, and unilateral military action against Syria would be a violation of international law. However, the very visible emergence of ISIS, now defined as the most dangerous terrorist organization in the Middle East, or, perhaps, globally, and their widely publicized video beheadings of James Foley, Steve Sotloff and others, appeared to give some form of de facto justification for broader military action, including against Syria.  On August 22, 2014, The New York Times reported, page A6: “When the United States began airstrikes in Iraq this month, senior Obama administration officials went out of their way to underscore the limited nature of their action.  ‘This was not an authorization of a broad-based counterterrorism campaign,’ a senior Obama administration official told reporters at the time.  But the beheading of an American journalist and the possibility that more American citizens being held by the group might be slain has prompted outrage at the highest levels of the American government.”
  • In an interview with Anderson Cooper, Diane Foley stated that a military official forbade the family from going to the media and threatened to prosecute them for supporting terrorism if they attempted to raise the $1.32 million dollar ransom demanded by ISIS. “Three times he intimidated us with that message.  We were horrified he would say that.  He just told us we would be prosecuted.  We knew we had to save our son, we had to try,” Mrs. Foley told Anderson Cooper. Foley’s brother, Michael noted in an interview that he was ‘directly threatened with possible prosecution for violating anti-terrorism laws by a State Department official.”  Reporter Michael Isikoff states, in a September 12 article: “The parents of murdered journalist Steven Sotloff were told by a White House counterterrorism official at a meeting last May that they could face criminal prosecution if they paid ransom to try to free their son.”
  • Indeed, it can be asserted that these same administration officials who claimed “outrage” after the beheadings, inflicted the most extreme psychological torture upon the families of James Foley and Stephen Sotloff, who were desperately trying to save the lives of their sons and brother. On September 12, 2014, ABC news reported:  “Obama administration officials repeatedly threatened the family of murdered journalist James Foley that they might face criminal charges for supporting terrorism if they paid ransom to the ISIS killers who ultimately beheaded their son, his mother and brother said this week.  ‘We were told that several times and we took it as a threat and it was appalling,’ Foley’s mother Diane told ABC news in an interview.  She said the warnings over the summer came primarily from a highly decorated military officer serving on the White House National Security Council staff, which five outraged current and former officials with direct knowledge of the Foley case also recounted to ABC news in recent weeks.”
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  • Mrs. Foley diplomatically implies that her son’s death was in the “strategic interest” and she stops just short of accusing the administration of using her son’s beheading as the fig-leaf they needed to justify the administration’s unilateral attack on Syria, which was in violation of international law. If saving Foley was not in the “strategic interest,” a very frightening possibility exists. The murders of Foley and Sotloff, both of whom were beheaded by ISIS, were called ‘acts of barbarism’ by Obama in his speech announcing a military campaign to destroy the terrorist organization. Frenzied hysteria over human rights abuses in Syria continues to be incited by mainstream media, as the middle east is fragmented and decomposed by US/NATO bombings and internecine warfare so complex that the UN’s call for the “diplomatic resolution” of multiple devastating conflicts becomes an increasingly remote possibility.  Saudi Arabia and Qatar continue arming the terrorist opposition.
  • “Sotloff’s father, Art, was ‘shaking’ after the meeting with the official, who works for the National Security Council.  Sources close to the family say that at the time of the White House meeting the Sotloffs and Foleys were exploring lining up donors who would help pay multimillion dollar ransoms to free their sons.  But after the meeting those efforts collapsed, one source said, because of concerns that ‘donors could expose themselves to prosecution.’” James Nye for Mailonline reported:  “Mrs. Foley poured scorn on the Pentagon’s claim they tried to rescue Foley on July 4, only to raid the wrong base…Throughout the 20 month ordeal, Mrs. Foley said she came to regard her and her family’s efforts to rescue James as an ‘annoyance’ to the administration and began to feel that their desperation to bring James Foley home did not ‘seem to be in the strategic interest, if you will.’”
  • The front page headline states:  “U.S. General Says Raiding Syria is Key to Halting Isis.  The Islamic State in Iraq and Syria cannot be defeated unless the United States or its partners take on the Sunni militants in Syria,’ General Martin Dempsey, Chairman of the Joint Chiefs of Staff said on August 21, 2014. ‘This is an organization that has an apocalyptic end-of-days strategic vision that will eventually have to be defeated.  Can they be defeated without addressing that part of the organization that resides in Syria?  The answer is no.” Public horror at the beheading of James Foley and Steven Sotloff transformed public reluctance to engage in yet another seemingly endless and futile distant war, paid for by the U.S. taxpayer, into public outrage and support for retaliation against the terrorists who beheaded Foley and Sotloff.  US/NATO now had a de facto form of support and legitimacy for attacking Syria.  Given little publicity, however, then and now, was the fact that ISIS offered to exchange the lives of James Foley and Stephen Sotloff for $100 million dollars in ransom.  Although top U.S. officials used their “outrage” at the beheading of Foley and Sotloff to “justify” a unilateral attack on Syria, they were not sufficiently outraged to do what was necessary to prevent these beheadings, which, once executed, provided a convenient fig-leaf for the attack on Syria for which  they had sought and failed to attain legal justification during the preceding three years.
  • At the same time that the military-industrial complex thrives on huge profits derived from these geo-politically engineered conflicts, it is worth recalling the September 10, 2014 report by Mazzetti, Schmitt and Landler in The New York Times: “Washington – “The violent ambitions of the Islamic State in Iraq and Syria have been condemned across the world:  in Europe and the Middle East, by Sunni nations and Shiite ones, and by sworn enemies like Israel and Iran.  Pope Francis joined the call for ISIS to be stopped. “As President Obama prepares to send the United States on what could be yearslong military campaign against the militant group (ISIS), American intelligence agencies have concluded that it poses no immediate threat to the United States.  Some officials and terrorism experts believe that the actual danger posed by ISIS has been distorted in hours of television punditry and alarmist statements by politicians, and that there has been little substantive public debate about the unintended consequences of expanding American military action in the Middle East. “Daniel Benjamin, who served as the State Department’s top counterterrorism adviser during Mr. Obama’s first term, said the public discussion about the ISIS threat has been a ‘farce,’ with ‘members of the cabinet and top military officers all over the place describing the threat in lurid terms that are not justified.’  “It’s hard to imagine a better indication of the ability of elected officials and TV talking heads to spin the public into a panic, with claims that the nation is honeycombed with sleeper cells, that operatives are streaming across the border into Texas or that the group will soon be spraying Ebola virus on mass transit systems – all on the basis of no corroborated information,’ said Mr. Benjamin, who is now a scholar at Dartmouth College.”
  • Paul Merrell on 08 Jan 15
     
    The Feds' "no ransom" policy might better be changed to "pay the ransom then extract retribution." It would still serve as a deterrent. Nonetheless, that policy is now part of a U.N. Security Council Resolution. 
Paul Merrell

The Secret Stupid Saudi-US Deal on Syria - 0 views

www.boilingfrogspost.com/...-stupid-saudi-us-deal-on-syria

war & peace U.S.-foreign-policy war by proxy Ukraine Syria pipelinestan-war

shared by Paul Merrell on 14 Dec 14 - No Cached
  • The details are emerging of a new secret and quite stupid Saudi-US deal on Syria and the so-called IS. It involves oil and gas control of the entire region and the weakening of Russia and Iran by Saudi Arabian flooding the world market with cheap oil. Details were concluded in the September meeting by US Secretary of State John Kerry and the Saudi King. The unintended consequence will be to push Russia even faster to turn east to China and Eurasia. One of the weirdest anomalies of the recent NATO bombing campaign, allegedly against the ISIS or IS or ISIL or Daash, depending on your preference, is the fact that with major war raging in the world’s richest oil region, the price of crude oil has been dropping, dramatically so. Since June when ISIS suddenly captured the oil-rich region of Iraq around Mosul and Kirkuk, the benchmark Brent price of crude oil dropped some 20% from $112 to about $88. World daily demand for oil has not dropped by 20% however. China oil demand has not fallen 20% nor has US domestic shale oil stock risen by 21%.
  • What has happened is that the long-time US ally inside OPEC, the kingdom of Saudi Arabia, has been flooding the market with deep discounted oil, triggering a price war within OPEC, with Iran following suit and panic selling short in oil futures markets. The Saudis are targeting sales to Asia for the discounts and in particular, its major Asian customer, China where it is reportedly offering its crude for a mere $50 to $60 a barrel rather than the earlier price of around $100. [1] That Saudi financial discounting operation in turn is by all appearance being coordinated with a US Treasury financial warfare operation, via its Office of Terrorism and Financial Intelligence, in cooperation with a handful of inside players on Wall Street who control oil derivatives trading. The result is a market panic that is gaining momentum daily. China is quite happy to buy the cheap oil, but her close allies, Russia and Iran, are being hit severely.
  • According to Rashid Abanmy, President of the Riyadh-based Saudi Arabia Oil Policies and Strategic Expectations Center, the dramatic price collapse is being deliberately caused by the Saudis, OPEC’s largest producer. The public reason claimed is to gain new markets in a global market of weakening oil demand. The real reason, according to Abanmy, is to put pressure on Iran on her nuclear program, and on Russia to end her support for Bashar al-Assad in Syria.[2] When combined with the financial losses of Russian state natural gas sales to Ukraine and prospects of a US-instigated cutoff of the transit of Russian gas to the huge EU market this winter as EU stockpiles become low, the pressure on oil prices hits Moscow doubly. More than 50% of Russian state revenue comes from its export sales of oil and gas.
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  • The US-Saudi oil price manipulation is aimed at destabilizing several strong opponents of US globalist policies. Targets include Iran and Syria, both allies of Russia in opposing a US sole Superpower. The principal target, however, is Putin’s Russia, the single greatest threat today to that Superpower hegemony. The strategy is similar to what the US did with Saudi Arabia in 1986 when they flooded the world with Saudi oil, collapsing the price to below $10 a barrel and destroying the economy of then-Soviet ally, Saddam Hussein in Iraq and, ultimately, of the Soviet economy, paving the way for the fall of the Soviet Union. Today, the hope is that a collapse of Russian oil revenues, combined with select pin-prick sanctions designed by the US Treasury’s Office of Terrorism and Financial Intelligence will dramatically weaken Putin’s enormous domestic support and create conditions for his ultimate overthrow. It is doomed to fail for many reasons, not the least, because Putin’s Russia has taken major strategic steps together with China and other nations to lessen its dependence on the West. In fact the oil weapon is accelerating recent Russian moves to focus its economic power on national interests and lessen dependence on the Dollar system. If the dollar ceases being the currency of world trade, especially oil trade, the US Treasury faces financial catastrophe. For this reason, I call the Kerry-Abdullah oil war a very stupid tactic.
  • The details are emerging of a new secret and quite stupid Saudi-US deal on Syria and the so-called IS. It involves oil and gas control of the entire region and the weakening of Russia and Iran by Saudi Arabian flooding the world market with cheap oil. Details were concluded in the September meeting by US Secretary of State John Kerry and the Saudi King. The unintended consequence will be to push Russia even faster to turn east to China and Eurasia. One of the weirdest anomalies of the recent NATO bombing campaign, allegedly against the ISIS or IS or ISIL or Daash, depending on your preference, is the fact that with major war raging in the world’s richest oil region, the price of crude oil has been dropping, dramatically so. Since June when ISIS suddenly captured the oil-rich region of Iraq around Mosul and Kirkuk, the benchmark Brent price of crude oil dropped some 20% from $112 to about $88. World daily demand for oil has not dropped by 20% however. China oil demand has not fallen 20% nor has US domestic shale oil stock risen by 21%.
  • Paul Merrell on 14 Dec 14
     
    One I missed from late October.
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