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Paul Merrell

One Click Politics - 0 views

  • Senate Joint Resolution 19 is a proposed Constitutional Amendment to overturn Citizens United, but it doesn’t address corporate constitutional rights at all. Please send a message to the authors of SJR19 -- let them know that Corporate Personhood MUST be included in the language of the amendment... What You Can Do: Help movetoamend accomplish these goals by contributing your power of voice. Take action now by sending a message to Congress telling them why these issues are important to you.
  • Formed in September 2009, Move to Amend is a coalition of hundreds of organizations and hundreds of thousands of individuals committed to social and economic justice, ending corporate rule, and building a vibrant democracy that is genuinely accountable to the people, not corporate interests.
  • Senate Joint Resolution 19 is a proposed Constitutional Amendment to overturn Citizens United, but it doesn’t address corporate constitutional rights at all. Please send a message to the authors of SJR19 -- let them know that Corporate Personhood MUST be included in the language of the amendment... What You Can Do: Help movetoamend accomplish these goals by contributing your power of voice. Take action now by sending a message to Congress telling them why these issues are important to you.
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    I have never forwarded action alerts to others by email. The typical action alert winds up sharing your email address with at least one other organization. The next thing you know you're getting donor solicitations from both the Republican and Democratic party central national coordinating committees. It's not just that I'm a political independent; it's an ongoing task to unsubscribe from unwanted mailing lists. Today I got an action alert from Move to Amend, only the second I have received from the organization. This group does not share your email address with anyone. If you choose to participate in this action alert, which is nearing 1 million messages sent, there is a send button near the bottom of the page to participate. That takes you to a page where you can read the message that will be sent. Move to Amend is a non-partisan organization that has been working toward a constitutional amendment for around 4 years that would clear the way for Congress to regulate campaign contributions, in light of Supreme Court decisions declaring that corporations have a First Amendment right to make campaign contributions in any amount they desire. But their amendment would also abolish constitutional rights for all fictional legal "persons" other than human beings and government at the local, state, and national levels. Move to Amend has been going about the process the right way and to date has scored supporting resolutions in 16 state legislatures and hundreds of community governments. That's enough to get oligarchs worried. So there's a bill gathering steam in the U.S. Senate, SJR 19, that's a watered-down version. It grants Congress and the states power to regulate campaign contributions, but it does not speak to the problem of granting human constitutional rights to entities that have existence only in the eyes of the law. The Senate bill is here: http://goo.gl/Nkvfkg Our nation's Founders unmistakably did not contemplate that corporations would have constitution
Paul Merrell

EU's Juncker Folds To Gazprom On South Stream Pipeline | Zero Hedge - 0 views

  • “European Commission President Jean-Claude Juncker has insisted the $40 billion South Stream natural gas pipeline can still go ahead and accused Russia of holding EU-member Bulgaria to ransom when it said it had abandoned the project.   Speaking after talks with Bulgarian Prime Minister Boiko Borisov, whose country South Stream would traverse making it a major beneficiary, Juncker rebutted Russia’s statement that EU competition rules had killed it. He told reporters issues relating to the pipeline were not insurmountable and he was working with Bulgaria to address them.   Russia said on Monday it had abandoned the pipeline, which would have bypassed Ukraine, Gazprom’s traditional transit route for Russian gas, citing EU competition requirements for a pipeline’s ownership to be divorced from its cargo. It said it was working on an alternative route via Turkey
  • A few remarks to the above: yes, the Bulgarians are understandably up in arms, but had it been up to them, the construction activities would never have been interrupted in the first place. As things stand, the previous Bulgarian government was badgered by the EU and visited by John McCain, whose primary mission was apparently to stop the pipeline from being built. The government announced that all construction on the pipeline would be stopped two hours after McCain left.
  • Juncker says the EU will do whatever it can to improve relations with Russia and it is certainly true that if there are disagreements it always “takes two to tango”. However, let us stop to think for a moment what this means in unambiguous, clear language. From the perspective of the EU (and especially the US) leadership, it means that Russia’s government must accede 100% to every demand they make. We already pointed out that this is an essentially fascist foreign policy. Nothing but complete surrender is acceptable. We don’t think it would be impossible to come to an agreement regarding the Ukraine crisis that everybody could in theory live with (the über-hawks in both the US and Russia excepted – basically the neo-cons in the US and assorted nationalists in Russia. We do have a tad more understanding for the paranoia of former Eastern Bloc countries). By now it should be rather glaringly obvious though that economic sanctions and demonizing the Russian leadership at every opportunity won’t do the trick.
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    Looks like John McCain may need to make another trip to Europe, this time to get European Commission President Juncker back in line. More comedy from the Empire of Chaos.  
Paul Merrell

Portuguese Parliament votes for Recognition of Palestine | nsnbc international - 0 views

  • The Portuguese parliament, on Friday, voted in favor of a recognition of Palestine. The vote comes against the backdrop of the 2014 Israeli – Palestinian conflict, increased tensions and violence in Israel and Palestine, and similar votes by other European countries over the past months. “A” recognition of “a” Palestine is, however, even controversial among Palestinians.  The motion in the Portuguese parliament was filed jointly, by the governing center-right majority government and the opposition Socialist Party. Speakers for both fractions stated that the vote in favor of a recognition of the Palestinian State comes within the context of a coordinated policy within the European Union.
  • The Portuguese parliament’s vote followed similar votes in other European countries. Sweden officially recognized Palestine as sovereign and independent State, which prompted Israel to recall its ambassador from the Scandinavian country’s capital Stockholm. Legislators in both Spain and in the House of Commons in the UK passed similar resolutions. On Thursday, the Upper House of the French Parliament voted in favor of the recognition of Palestine by France. The ultimate decision, however, rests with the French government of France’s ruling Socialist Party led by President Francois Hollande. The wave of recognition of Palestine by European nations followed Israel’s unprecedented bombing of Palestine’s coastal region, the Gaza Strip.
  • The wave of recognition may also have been promoted by the fact that corporate and state-sponsored media bled viewers, listeners and readers to independent media and the fact that the marked increase in users of independent media forced mainstream media to adjust their, usually, pro-Israel biased coverage.
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  • Not all Palestinian factions agree with a two-State solution. A recognition of Palestine as it is currently envisioned by the Middle East Quartet, the EU, and the Palestinian Authority would also include controversial issues like land-swaps between Israel and Palestine, the loss of the internationally guaranteed right of return of the world’s largest refugee population against what is described as “economic compensation and special privileges in the country that grants them exile”, the usurpation of Palestinian water rights, the ongoing theft of Palestinian natural gas off the coast of the Gaza Strip, and a cohort of other controversial issues which raise skepticism about “a” recognition of Palestine without at least guaranties about tangible measures against Israel in the case of non-compliance with international law.
  • Landslide in Opinion and Recognition of Palestine by UK caused by Alternative Media?
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    Mixed feelings about this: It's a well-deserved slap in the face to Israel's apartheid government. But the two-state solution has not been viable for a long time because of the illegal Israeli settlements. The Boycott, Divestment, and Sanctions movement is aimed at a single-state solution with a secular government. That would still leave the Palestinian right of return to their stolen homes and lands, which cannot lawfully be abrogated by treaty or taking; it is an individual's human right under international law. When you read talk of Irael-Palestine land swaps as part of a negotiated peace, keep that in mind. Governments may lawfully swap boundaries but cannot swap land ownership and have it stand up in a court of international law. 
Paul Merrell

U.S. War Against Russia Is Now Against Hungary Too Washington's Blog - 0 views

  • Hungary has decided to align itself with Russia against the United States. The Western Alliance is starting to fray, over the insistence by Barack Obama and the U.S. Congress to go to war against Russia.
  • But, within the European Union, and especially among its former member-states of the Soviet Union, this is, as of yet, still only a cold war, which is in the process of heating up toward perhaps the super-hot temperature of a nuclear conflict between Russia and NATO (the latter organization consisting of the United States and its vassal nations against Russia). And America is already investing heavily in it. According to German Economic News (GEN), on December 25th, “Hungary Will Not Take Part in the Cold War Against Russia.” They report that, “Hungary’s Prime Minister Viktor Orban takes his distance from the EU, and accuses the US government of trying to instigate a new Cold War against Russia. Hungary will not participate.” GEN also links to an earlier, October 19th, GEN article, which had reported that, “After Russia, Hungary is now apparently also being targeted by Americans: the United States is hitting senior Hungarian government officials and businessmen with entry bans. The Americans throw corruption-charges against the Hungarians.”
  • On Tuesday, December 23rd, Reuters headlined, “Hungary PM Orban: U.S. uses corruption charges to gain influence,” and reported that, “The United States is using corruption allegations against some Hungarian public officials as a ‘cover story’ to boost its influence in central Europe amid the Russia-Ukraine conflict, Prime Minister Viktor Orban said on Tuesday. Orban’s comments come amid a wider souring of relations between Hungary, a NATO ally, and the United States over what America perceives as Orban’s increasingly authoritarian rule and Budapest’s warm relations with Russia.”
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  • America’s pervasive NSA snooping, militarizing of local police-forces, and invasions of Iraq, Syria, Libya, and other countries that never threatened the United States, are not considered (by the British Reuters) ‘authoritarian,’ but somehow Hungary now is ‘authoritarian.’ Suddenly (though the U.S. didn’t say this when Hungary was trying to meet the demands of the American aristocracy), Hungary is ‘authoritarian,’ and is ‘too’ corrupt to do business with.
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    A NATO member, Hungary, just bowed out of U.S. sanctions on Russia. Turkey looks to be doing the same. Is this the beginning of NATO coming undone? 
Paul Merrell

Russia Reveals "Plan B": Gazprom Says Gas Transit Via Ukraine May Be Stopped Completely... - 0 views

  • A few days ago, when we wrote our "explainer" on the need for Russia to have an alternative pathway for its gas, one which bypasses Ukraine entirely and as the current "South Stream" framework is set up, crosses the Black Sea and enters Bulgaria before passing Serbia and Hungary on the way to the Central European energy hub located in Baumgarten, Austria, we said that "one short month after Putin concluded the Holy Grail deal with Beijing, he not only managed to formalize his conquest of Europe's energy needs with yet another pipeline, one which completely bypasses Ukraine (for numerous reasons but mostly one: call it a Plan B), but scored a massive political victory by creating a fissure in the heart of the Eurozone, after Austria openly defied its European peers and sided with Putin."
  • As Itar-Tass reports, citing Gazprom CEO Alexei Miller, "Russia’s gas giant Gazprom does not rule out gas transit via Ukraine may be stopped completely." "What happened once is a tendency, nothing happens incidentally. In 2009, gas supplies were stopped completely — so, we know precedents,” Miller told a briefing on Friday. Clearly, this is bad news for Ukraine: Gazprom not interested in participation in Ukraine’s gas transportation system (GTS), “train has departed”, CEO said. “The train has already departed. It seems it departed yesterday,” Miller said. “It belongs to no one. The GTS has no owner,” he said. “The GTS of Ukraine does not belong to Naftogaz but to the Ukrainian government. Before discussing things with someone regarding modernization and cooperation, it should appear on the balance sheet of this or that economic entity.”   “Property and legal issues should be resolved first,” Miller said. In fact, the civil war torn country may soon lose all leverage it had with both Europe and Russia as a transit hub for natural gas, which also means that it is quite likely that Ukraine is about to be abandoned by its western allies who will no longer have any practical use for it. 
  • The Gazprom chief added that “a dozen Ukrainian laws need to be changed to be able to do something with the GTS.”  Confirming that Ukraine's leverage at least with Russia is now effectively zero, Gazprom's CEO also said that “As for the continuation of negotiations with Ukraine, today there is no subject for talks. First, they must repay their debts." “The gas price for Ukraine is fair - this price is fixed in the contract,” he stressed. There have been no requests on the part of Ukraine’s national oil and gas company Naftogaz Ukrainy on a change of the transit deal with Russia, Alexei Miller said. Miller told journalists that it would be bad news if such requests had been received. At least we now know what the Ukraine endgame will look like: as Russian transit through the country is completely cut off, the nation will lose all strategic importance first to Russia and then to Europe, which is still over-reliant on Russian gas (see map below), but which will increasingly turn its attention to the countries which the South Stream passes through.
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    So much for Ukraine's proposal to pump natural gas back to Ukraine from the EU. About 30 percent of the EU's natural gas supply is currently pumped from Russia through the Ukraine. Because of Russia's new alliance a gas contracts with China, the threat to cut off gas to the EU is at least credible. 
Paul Merrell

Bank Of America's $17 Billion Mortgage Crisis Settlement Could Be A Total Bust | ThinkP... - 0 views

  • Bank of America has agreed to a legal settlement with the Department of Justice (DOJ) to avoid prosecution for the hundreds of billions of dollars in bad mortgage loans that it and its subsidiaries sold to unwitting investors in the run-up to the financial crisis, according to multiple new reports. The total on-paper cost of the deal is reportedly at least $16 billion and perhaps as high as $17 billion, which makes it the largest corporate legal settlement with the government in U.S. history. But that record price tag is deceptive. The deal is unlikely to cost Bank of America anywhere close to that amount.
  • the government’s decision to pursue civil settlements rather than criminal cases against banks that inflated the toxic mortgage bubble means that shareholders pay the price while executives who oversaw the misconduct earn large bonuses.
  • “If you let a thief buy his way out of jail, you should really make sure the check doesn’t bounce,” HDL national campaign director Kevin Whelan said in an email. “Even a record $17 billion settlement is a small fraction of the damage done by B of A and Countrywide. But it could do real good for a lot of families,” Whelan said. “The fact that the JP Morgan Chase settlement has not delivered any noticeable relief to families makes us skeptical.”
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  • Even at face value, the reported settlement is minuscule compared to the harm caused by Bank of America companies. The on-paper cost of the deal is less than 7 percent of the value of the mortgage deals Bank of America and its subsidiaries Countrywide and Merrill Lynch made before the crisis that have since gone bad. (Bank of America bought Countrywide and Merrill Lynch at the height of the crisis.) Those three companies issued just shy of a trillion dollars in mortgage-backed securities in the run-up to the financial collapse, and $245 billion of those products have gone bad, according to Bloomberg. Bank of America had pushed for a much smaller settlement for months, arguing that it should not have to pay for the sins of the firms it bought at bargain-bin prices when the economy was reeling. But a court ruling last month regarding Countrywide’s most notorious mortgage swindle caused the bank to change its tune, according to the New York Times. Judge Jed Rakoff ordered the bank to pay about $1.3 billion for one tranch of defective mortgages sold under a program that Countrywide nicknamed “Hustle” because of its fraudulent nature. Having lost one court case over Countrywide’s notorious misdeeds, the Times says, Bank of America decided to stop resisting federal officials’ settlement demands.
  • After tax deductions, the settlement could easily shrink below the roughly $15 billion in profits the company has reported since 2011. And because the financial crisis sucked something like $14 trillion out of the economy and destroyed tens of trillions of dollars in wealth for homeowners, the DOJ can hardly claim to have delivered a proportional response. The department’s claims about the Bank of America settlement are likely to draw political scrutiny. A bipartisan bill from Sens. Elizabeth Warren (D-MA) and Tom Coburn (R-OK) would require government officials to state the full tax deductibility and true cost of corporate legal settlements in all public statements about them. That bill, inspired by the revelations that JP Morgan’s sweetheart deal with the DOJ didn’t come close to the portrait that Attorney General Eric Holder painted of it, was passed out of committee late last month.
Paul Merrell

The Aviationist » U.S. aircraft carrier and part of its escort "sunk" by Fren... - 0 views

  • If you thought aircraft carriers were invincible you were wrong.On Mar. 4, the French Ministry of Defense released some interesting details, about the activity conducted by one of its nuclear-powered attack submarine (SNA) in the waters of the North Atlantic Ocean.According to French MoD website (that is no longer online, even if you can still find a cached version of the article titled “Le SNA Saphir en entraînement avec l’US Navy au large de la Floride”), the Saphir submarine has recently taken part in a major exercise with the U.S. Navy off Florida.The aim of the exercise was joint training with U.S. Carrier Strike Group 12 made by the aircraft carrier Theodore Roosevelt, several Ticonderoga cruisers or Arleigh Burke-class destroyers and a Los Angeles-class submarine, ahead of their operational deployment.The scenario of the drills saw some imaginary states assaulting American economic and territorial interests; threats faced by a naval force led by USS Theodore Roosevelt.During the first phase of the exercise, the Saphir was integrated into the friendly force to support anti-submarine warfare (ASW) by cooperating with U.S. P-3C Orion P-8A Poseidon MPA (Maritime Patrol Aircraft): its role was to share all the underwater contacts with the other ASW assets.In the second phase of the exercise, the Saphir was integrated with the enemy forces and its mission was to locate the aircraft carrier Theodore Roosevelt and its accompanying warships and prepare to attack the strike group.
  • While the fictious political situation deteriorated, the Saphir quietly slipped in the heart of the multi-billion-dollar aircraft carrier’s defensive screen, while avoiding detection by ASW assets.On the morning of the last day, the order to attack was finally given, allowing the Saphir to pretend-sinking the USS Theodore Roosevelt and most of its escort.Although we don’t really know many more details about the attack and its outcome, the scripted exercise its RoE (Rules of Engagement), the simulated sinking of a U.S. supercarrier proves the flattop’s underwater defenses are not impenetrable.This is the reason why modern subs often train with aircraft carriers: they pose a significant threat to powerful Carrier Strike Groups.Obviously, this was not the first time a submarine scored a simulated carrier kill with torpedo attacks.For instance, in 2007 HMCS Corner Brook, a Canadian diesel-electric submarine “sunk” UK’s Illustrious during an exercise in the Atlantic.
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    Thus proving that we need many more aircraft carrier groups, I guess.
Paul Merrell

OPEC Unlikely to Cut Oil Production, Venezuela's PDVSA Predicts "Difficult Times Ahead"... - 0 views

  • negotiations with Mexico, Russia and Saudi Arabia have failed to reach a joint pledge for OPEC nations to cut oil production. Ramirez, who was replaced as president of state-owned oil company PDVSA in September but continues to be Venezuela’s OPEC representative, met his counterparts on Tuesday in Vienna to kickstart the discussion on the plummeting price of oil before Thursday’s hugely significant OPEC summit. Between the United States shale boom and slower economic growth in Europe and China, the price of Venezuelan heavy crude dove from $99 per barrel in June to about $69 last week, prompting Ramirez’s diplomatic tour.
  • OPEC members Venezuela, Iraq, Ecuador, and Nigeria have all advocated for a cut in production as the quickest way to drive market prices back up. Statistics uphold this argument, considering OPEC estimations that global supply will exceed demand by more than 1 million barrels per day (bpd) in the first half of next year. But after Tuesday’s Vienna meeting Saudi Arabian Oil Minister Ali al-Naimi told reporters that the Gulf Cooperation Council (GCC), which includes Saudi Arabia, Kuwait, Qatar and the United Arab Emirates, had reached a “consensus” not to do so. Al-Naimi believes the twelve-nation OPEC group, of which Saudi Arabia is the largest producer, will follow suit. "We are very confident that OPEC will have a unified position,” he said, in reference to tomorrow’s summit. Meanwhile, Russia’s most influential oil official, state-firm Rosneft’s president Igor Sechin, surprised some and quelled rumors by announcing the largest producing non-OPEC nation had no intention of reducing their output, either. Not even, Sechin said, if oil “falls under $60 a barrel.”
  • The Russian company recently signed a contract with PDVSA for the purchase of 1.6 million tons of petroleum and 9 million tons of derivatives of crude over the next five years. While it makes sense that the GCC prioritize market share over barrel price, to a certain extent, Russian government coffers have already been hard hit by dropping prices, causing Sechin’s comment to raise some eyebrows. Indeed, many analysts claim the oil glut of the early 1980’s (which almost bankrupt Venezuela) contributed to the collapse of the Soviet Union.
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  • However, oil makes up 97 percent of Venezuela’s export earnings, and the market shift has already caused the country a 30 percent loss in foreign income, Maduro said last week. According to Reuters, PDVSA has put the possible sale of U.S. refinery Citgo Petroleum Corp back on the table. People close to the matter have reported that Lazard Ltd, the investment bank hired by PDVSA to explore the sale, has set a late-December deadline for new offers, despite Venezuelan finance minister ruling it out last month. Citgo runs three refineries in the United States, totaling an estimated value of up to $10 billion.
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    The headscratcher for me in this article is Russia's position that it will maintain production even if crude oil prices drop below $60 per barrel. The dropping price has delivered a huge hit on the Russian economy already. These factors cause me to wonder if China has pledged funds to help Russia ride out the U.S./GCC assault on oil prices.  
Paul Merrell

Exit South Stream, enter Turk Stream - RT Op-Edge - 0 views

  • So the EU “defeated” Putin by forcing him to cancel the South Stream pipeline. Thus ruled Western corporate media. Nonsense. Facts on the ground spell otherwise. This “Pipelineistan” gambit will continue to send massive geopolitical shockwaves all across Eurasia for quite some time. In a nutshell, a few years ago Russia devised Nord Stream – fully operational – and South Stream – still a project – to bypass unreliable Ukraine as a gas transit nation. Now Russia devised a new deal with Turkey to bypass the “non-constructive” (Putin’s words) approach of the European Commission (EC). Background is essential to understand the current game. Five years ago I was following in detail Pipelineistan’s ultimate opera – the war between rival pipelines South Stream and Nabucco. Nabucco eventually became road kill. South Stream may eventually resurrect, but only if the EC comes to its senses (don’t bet on it.)
  • The 3,600 kilometer long South Stream should be in place by 2016, branching out to Austria and the Balkans/Italy. Gazprom owns 50 percent of it - along with Italy’s ENI (20 percent), French EDF (15 percent) and German Wintershall, a subsidiary of BASF (15 percent). As it stands these European energy majors are not exactly beaming – to say the least. For months Gazprom and the EC were haggling about a solution. But in the end Brussels predictably succumbed to its own. Russia still gets to build a pipeline under the Black Sea – but now redirected to Turkey and, crucially, pumping the same amount of gas South Stream would. Not to mention Russia gets to build a new LNG (liquefied natural gas) central hub in the Mediterranean. Thus Gazprom has not spent $5 billion in vain (finance, engineering costs). The redirection makes total business sense. Turkey is Gazprom’s second biggest customer after Germany. And much bigger than Bulgaria, Hungary, and Austria combined. Russia also advances a unified gas distribution network capable of delivering natural gas from anywhere in Russia to any hub alongside Russia’s borders.
  • And as if it was needed, Russia gets yet another graphic proof that its real growth market in the future is Asia, especially China – not a fearful, stagnated, austerity-devastated, politically paralyzed EU. The evolving Russia-China strategic partnership implies Russia as complementary to China, excelling in major infrastructure projects from building dams to laying out pipelines. This is business with a sharp geopolitical reach – not ideology-drenched politics.
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  • Turkey also made a killing. It’s not only the deal with Gazprom; Moscow will build no less than Turkey’s entire nuclear industry, apart from increased soft power interaction (more trade and tourism). Most of all, Turkey is now increasingly on the verge of becoming a full member of the Shanghai Cooperation Organization (SCO); Moscow is actively lobbying for it. This means Turkey acceding to a privileged position as a major hub simultaneously in the Eurasian Economic Belt and of course the Chinese New Silk Road(s). The EU blocks Turkey? Turkey looks east. That’s Eurasian integration on the move. Washington has tried very hard to create a New Berlin Wall from the Baltics to the Black Sea to “isolate” Russia. Now comes yet another Putin judo/chess/go counterpunch – which the opponent never saw coming. And exactly across the Black Sea. A key Turkish strategic imperative is to configure itself as the indispensable energy crossroads from East to West – transiting everything from Iraqi oil to Caspian Sea gas. Oil from Azerbaijan already transits Turkey via the Bill Clinton/Zbig Brzezinski-propelled BTC (Baku-Tblisi-Ceyhan) pipeline. Turkey would also be the crossroads if a Trans-Caspian pipeline is ever built (slim chances as it stands), pumping natural gas from Turkmenistan to Azerbaijan, then transported to Turkey and finally Europe.
  • So what Putin’s judo/chess/go counterpunch accomplished with a single move is to have stupid EU sanctions once again hurt the EU. The German economy is already hurting badly because of lost Russia business. The EC brilliant “strategy” revolves around the EU’s so-called Third Energy Package, which requires that pipelines and the natural gas flowing inside them must be owned by separate companies. The target of this package has always been Gazprom – which owns pipelines in many Central and Eastern European nations. And the target within the target has always been South Stream.
  • Now it’s up to Bulgaria and Hungary – which, by the way, have always fought the EC “strategy” – to explain the fiasco to their own populations, and to keep pressing Brussels; after all they are bound to lose a fortune, not to mention get no gas, with South Stream out of the picture. So here’s the bottom line; Russia sells even more gas – to Turkey; and the EU, pressured by the US, is reduced to dancing like a bunch of headless chickens in dark Brussels corridors wondering what hit them. The Atlanticists are back to default mode – cooking up yet more sanctions while Russia is set to keep buying more and more gold.
  • This is not the endgame – far from it. In the near future, many variables will intersect. Ankara’s game may change – but that’s far from a given. President Erdogan – the Sultan of Constantinople – has certainly identified a rival Caliph, Ibrahim of ISIS/ISIL/Daesh fame, trying to steal his mojo. Thus the Sultan may flirt with mollifying his neo-Ottoman dreams and steer Turkey back to its previously ditched “zero problems with our neighbors” foreign policy doctrine. The House of Saud is like a camel in the Arctic. The House of Saud’s lethal game in Syria always boiled down to regime change so a Saudi-sponsored oil pipeline from Syria to Turkey might be built – dethroning the proposed, $10 billion Iran-Iraq-Syria “Islamic” pipeline. Now the Saudis see Russia about to supply all of Turkey’s energy needs – and then some. And “Assad must go” still won’t go.
  • US neo-cons are also sharpening their spears. As soon as early 2015 there may be a Ukrainian Freedom Act approved by the US Congress. Translation: Ukraine as a “major US non-NATO ally” which means, in practice, a NATO annexation. Next step; more turbo-charged neo-con provocation of Russia. A possible scenario is vassal/puppies such as Romania or Bulgaria – pressed by Washington – deciding to allow full access for NATO vessels into the Black Sea. Who cares this would violate the current Black Sea agreements that affect both Russia and Turkey? And then there’s a Rumsfeldian “known unknown”; how the weak Balkans will feel subordinated to the whims of Ankara. As much as Brussels keeps Greece, Bulgaria and Serbia in a strait jacket, in energy terms they will start depending on Turkey’s goodwill. For the moment, let’s appreciate the magnitude of the geopolitical shockwaves. There will be more, when we least expect them.
Paul Merrell

Iceland looks at ending boom and bust with radical money plan - Telegraph - 0 views

  • Iceland's government is considering a revolutionary monetary proposal - removing the power of commercial banks to create money and handing it to the central bank. The proposal, which would be a turnaround in the history of modern finance, was part of a report written by a lawmaker from the ruling centrist Progress Party, Frosti Sigurjonsson, entitled "A better monetary system for Iceland". "The findings will be an important contribution to the upcoming discussion, here and elsewhere, on money creation and monetary policy," Prime Minister Sigmundur David Gunnlaugsson said. The report, commissioned by the premier, is aimed at putting an end to a monetary system in place through a slew of financial crises, including the latest one in 2008.
  • He argued the central bank was unable to contain the credit boom, allowing inflation to rise and sparking exaggerated risk-taking and speculation, the threat of bank collapse and costly state interventions. In Iceland, as in other modern market economies, the central bank controls the creation of banknotes and coins but not the creation of all money, which occurs as soon as a commercial bank offers a line of credit. The central bank can only try to influence the money supply with its monetary policy tools. Under the so-called Sovereign Money proposal, the country's central bank would become the only creator of money. "Crucially, the power to create money is kept separate from the power to decide how that new money is used," Mr Sigurjonsson wrote in the proposal.
  • Banks would continue to manage accounts and payments, and would serve as intermediaries between savers and lenders. Mr Sigurjonsson, a businessman and economist, was one of the masterminds behind Iceland's household debt relief programme launched in May 2014 and aimed at helping the many Icelanders whose finances were strangled by inflation-indexed mortgages signed before the 2008 financial crisis. The small Nordic country was hit hard as the crash of US investment bank Lehman Brothers caused the collapse of its three largest banks. Iceland then became the first western European nation in 25 years to appeal to the International Monetary Fund to save its battered economy. Its GDP fell by 5.1pc in 2009 and 3.1pc in 2010 before it started rising again.
Paul Merrell

US Planning to Keep Military Forces in Afghanistan for "Decades" | Global Research - Ce... - 0 views

  • The US military plans to maintain a presence of thousands of US forces in Afghanistan for “decades,” unnamed senior US military officials told theWashington Post Tuesday. “The US was supposed to leave Afghanistan by 2017. Now it might take decades,” unnamed US military leaders cited by the Post said. The confirmation of long-term US troop deployments to Afghanistan has been prompted by the instability of the US-backed regime in Kabul, whose tenuous hold over the capital is threatened by insurgent forces including the Taliban, al Qaeda and ISIS, the US officials said. Current Afghan President Ashraf Ghani is a US and NATO stooge imposed through a managed election geared to deflect popular hatred of the previous US- backed ruler, Hamid Karzai. Ghani was described by the US officials as a “willing and reliable partner” who can “provide bases to attack terror groups not just in Afghanistan, but also throughout South Asia for as long as the threat in the chronically unstable region persists.” US officials added, “There’s a broad recognition in the Pentagon that building an effective Afghan Army and police force will take a generation’s commitment, including billions of dollars a year in outside funding.”
  • The US-NATO intervention in Afghanistan will also require “constant support from thousands of foreign advisers on the ground,” the officials said. “We’ve learned that you can’t really leave,” an unnamed Pentagon official said. “You’re going to be there for a very long time.” Unnamed Obama administration officials confirmed the White House’s support for the plans, saying that the US intervention is analogous to that in South Korea, where Washington has deployed tens of thousands of soldiers since the end of the Second World War to cement its domination over the Pacific Rim. The Post report, which amounts to a de facto US government press release, comes amid a broader upsurge of escalatory moves by the US military in Central Asia, the Middle East and North Africa. Last week the Obama administration signed orders authorizing the US military to expand its military operations in northeast Afghanistan in the name of targeting the Islamic State. US Department of Defense chief Ashton Carter announced further deployments of US ground forces to Iraq, pledging to put “boots on the ground.” US Vice President Joseph Biden declared that Washington is prepared to seek a “military solution” in Syria. On Friday, US General Joseph F. Dunford said that the US is on the verge of launching “decisive military action” in Libya, in coordination with a NATO coalition.
  • Dunford’s statements have signaled “the opening of a third front in the war against the Islamic State,” according to a New York Times editorial Tuesday. The new US war in Libya “could easily spread to other countries on the continent,” the Times admitted, before calling for the US Congress to pass a new authorization to use military force. With the US and European powers engaged in a competitive scramble over the redivision of the world, the announcement that US forces will remain in Afghanistan for untold decades underscores the centrality of the Central Asian region in the strategic calculations of US imperialism. The US ruling class and military establishment seek to utilize Afghanistan as a permanent military outpost for operations throughout South and Central Asia. Washington is determined to project power throughout the entire Eurasian landmass as part of its campaign to destabilize Russia and China and foster conditions more suitable to US control over the world’s decisive economic centers.
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    To those who voted for Obama as a "peace" candidate: How did that work out for you?
Paul Merrell

Turkey could cut off Islamic State's supply lines. So why doesn't it? | David Graeber |... - 0 views

  • n the wake of the murderous attacks in Paris, we can expect western heads of state to do what they always do in such circumstances: declare total and unremitting war on those who brought it about. They don’t actually mean it. They’ve had the means to uproot and destroy Islamic State within their hands for over a year now. They’ve simply refused to make use of it. In fact, as the world watched leaders making statements of implacable resolve at the G20 summit in Antalaya, these same leaders are hobnobbing with Turkey’s president Recep Tayyip Erdoğan, a man whose tacit political, economic, and even military support contributed to Isis’s ability to perpetrate the atrocities in Paris, not to mention an endless stream of atrocities inside the Middle East.
  • How could Isis be eliminated? In the region, everyone knows. All it would really take would be to unleash the largely Kurdish forces of the YPG (Democratic Union party) in Syria, and PKK (Kurdistan Workers’ party) guerillas in Iraq and Turkey. These are, currently, the main forces actually fighting Isis on the ground. They have proved extraordinarily militarily effective and oppose every aspect of Isis’s reactionary ideology. But instead, YPG-controlled territory in Syria finds itself placed under a total embargo by Turkey, and PKK forces are under continual bombardment by the Turkish air force. Not only has Erdoğan done almost everything he can to cripple the forces actually fighting Isis; there is considerable evidence that his government has been at least tacitly aiding Isis itself. It might seem outrageous to suggest that a Nato member like Turkey would in any way support an organisation that murders western civilians in cold blood. That would be like a Nato member supporting al-Qaida. But in fact there is reason to believe that Erdoğan’s government does support the Syrian branch of al-Qaida (Jabhat al-Nusra) too, along with any number of other rebel groups that share its conservative Islamist ideology. The Institute for the Study of Human Rights at Columbia University has compiled a long list of evidence of Turkish support for Isis in Syria.
  • And then there are Erdoğan’s actual, stated positions. Back in August, the YPG, fresh from their victories in Kobani and Gire Spi, were poised to seize Jarablus, the last Isis-held town on the Turkish border that the terror organisation had been using to resupply its capital in Raqqa with weapons, materials, and recruits – Isis supply lines pass directly through Turkey. Commentators predicted that with Jarablus gone, Raqqa would soon follow. Erdoğan reacted by declaring Jarablus a “red line”: if the Kurds attacked, his forces would intervene militarily – against the YPG. So Jarablus remains in terrorist hands to this day, under de facto Turkish military protection.
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  • How has Erdoğan got away with this? Mainly by claiming those fighting Isis are “terrorists” themselves. It is true that the PKK did fight a sometimes ugly guerilla war with Turkey in the 1990s, which resulted in it being placed on the international terror list. For the last 10 years, however, it has completely shifted strategy, renouncing separatism and adopting a strict policy of never harming civilians. The PKK was responsible for rescuing thousands of Yazidi civilians threatened with genocide by Isis in 2014, and its sister organisation, the YPG, of protecting Christian communities in Syria as well. Their strategy focuses on pursuing peace talks with the government, while encouraging local democratic autonomy in Kurdish areas under the aegis of the HDP, originally a nationalist political party, which has reinvented itself as a voice of a pan-Turkish democratic left.
  • They have proved extraordinarily militarily effective and with their embrace of grassroots democracy and women’s rights, oppose every aspect of Isis’ reactionary ideology. In June, HDP success at the polls denied Erdoğan his parliamentary majority. Erdoğan’s response was ingenious. He called for new elections, declared he was “going to war” with Isis, made one token symbolic attack on them and then proceeded to unleash the full force of his military against PKK forces in Turkey and Iraq, while denouncing the HDP as “terrorist supporters” for their association with them. There followed a series of increasingly bloody terrorist bombings inside Turkey – in the cities of Diyarbakir, Suruc, and, finally, Ankara – attacks attributed to Isis but which, for some mysterious reason, only ever seemed to target civilian activists associated with the HDP. Victims have repeatedly reported police preventing ambulances evacuating the wounded, or even opening fire on survivors with tear gas.
  • As a result, the HDP gave up even holding political rallies in the weeks leading up to new elections in November for fear of mass murder, and enough HDP voters failed to show up at the polls that Erdoğan’s party secured a majority in parliament. The exact relationship between Erdoğan’s government and Isis may be subject to debate; but of some things we can be relatively certain. Had Turkey placed the same kind of absolute blockade on Isis territories as they did on Kurdish-held parts of Syria, let alone shown the same sort of “benign neglect” towards the PKK and YPG that they have been offering to Isis, that blood-stained “caliphate” would long since have collapsed – and arguably, the Paris attacks may never have happened. And if Turkey were to do the same today, Isis would probably collapse in a matter of months. Yet, has a single western leader called on Erdoğan to do this? The next time you hear one of those politicians declaring the need to crack down on civil liberties or immigrant rights because of the need for absolute “war” against terrorism bear all this in mind. Their resolve is exactly as “absolute” as it is politically convenient. Turkey, after all, is a “strategic ally”. So after their declaration, they are likely to head off to share a friendly cup of tea with the very man who makes it possible for Isis to continue to exist.
Paul Merrell

European Human Rights Court Deals a Heavy Blow to the Lawfulness of Bulk Surveillance |... - 0 views

  • In a seminal decision updating and consolidating its previous jurisprudence on surveillance, the Grand Chamber of the European Court of Human Rights took a sideways swing at mass surveillance programs last week, reiterating the centrality of “reasonable suspicion” to the authorization process and the need to ensure interception warrants are targeted to an individual or premises. The decision in Zakharov v. Russia — coming on the heels of the European Court of Justice’s strongly-worded condemnation in Schrems of interception systems that provide States with “generalised access” to the content of communications — is another blow to governments across Europe and the United States that continue to argue for the legitimacy and lawfulness of bulk collection programs. It also provoked the ire of the Russian government, prompting an immediate legislative move to give the Russian constitution precedence over Strasbourg judgments. The Grand Chamber’s judgment in Zakharov is especially notable because its subject matter — the Russian SORM system of interception, which includes the installation of equipment on telecommunications networks that subsequently enables the State direct access to the communications transiting through those networks — is similar in many ways to the interception systems currently enjoying public and judicial scrutiny in the United States, France, and the United Kingdom. Zakharov also provides a timely opportunity to compare the differences between UK and Russian law: Namely, Russian law requires prior independent authorization of interception measures, whereas neither the proposed UK law nor the existing legislative framework do.
  • The decision is lengthy and comprises a useful restatement and harmonization of the Court’s approach to standing (which it calls “victim status”) in surveillance cases, which is markedly different from that taken by the US Supreme Court. (Indeed, Judge Dedov’s separate but concurring opinion notes the contrast with Clapper v. Amnesty International.) It also addresses at length issues of supervision and oversight, as well as the role played by notification in ensuring the effectiveness of remedies. (Marko Milanovic discusses many of these issues here.) For the purpose of the ongoing debate around the legitimacy of bulk surveillance regimes under international human rights law, however, three particular conclusions of the Court are critical.
  • The Court took issue with legislation permitting the interception of communications for broad national, military, or economic security purposes (as well as for “ecological security” in the Russian case), absent any indication of the particular circumstances under which an individual’s communications may be intercepted. It said that such broadly worded statutes confer an “almost unlimited degree of discretion in determining which events or acts constitute such a threat and whether that threat is serious enough to justify secret surveillance” (para. 248). Such discretion cannot be unbounded. It can be limited through the requirement for prior judicial authorization of interception measures (para. 249). Non-judicial authorities may also be competent to authorize interception, provided they are sufficiently independent from the executive (para. 258). What is important, the Court said, is that the entity authorizing interception must be “capable of verifying the existence of a reasonable suspicion against the person concerned, in particular, whether there are factual indications for suspecting that person of planning, committing or having committed criminal acts or other acts that may give rise to secret surveillance measures, such as, for example, acts endangering national security” (para. 260). This finding clearly constitutes a significant threshold which a number of existing and pending European surveillance laws would not meet. For example, the existence of individualized reasonable suspicion runs contrary to the premise of signals intelligence programs where communications are intercepted in bulk; by definition, those programs collect information without any consideration of individualized suspicion. Yet the Court was clearly articulating the principle with national security-driven surveillance in mind, and with the knowledge that interception of communications in Russia is conducted by Russian intelligence on behalf of law enforcement agencies.
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  • This element of the Grand Chamber’s decision distinguishes it from prior jurisprudence of the Court, namely the decisions of the Third Section in Weber and Saravia v. Germany (2006) and of the Fourth Section in Liberty and Ors v. United Kingdom (2008). In both cases, the Court considered legislative frameworks which enable bulk interception of communications. (In the German case, the Court used the term “strategic monitoring,” while it referred to “more general programmes of surveillance” in Liberty.) In the latter case, the Fourth Section sought to depart from earlier European Commission of Human Rights — the court of first instance until 1998 — decisions which developed the requirements of the law in the context of surveillance measures targeted at specific individuals or addresses. It took note of the Weber decision which “was itself concerned with generalized ‘strategic monitoring’, rather than the monitoring of individuals” and concluded that there was no “ground to apply different principles concerning the accessibility and clarity of the rules governing the interception of individual communications, on the one hand, and more general programmes of surveillance, on the other” (para. 63). The Court in Liberty made no mention of any need for any prior or reasonable suspicion at all.
  • In Weber, reasonable suspicion was addressed only at the post-interception stage; that is, under the German system, bulk intercepted data could be transmitted from the German Federal Intelligence Service (BND) to law enforcement authorities without any prior suspicion. The Court found that the transmission of personal data without any specific prior suspicion, “in order to allow the institution of criminal proceedings against those being monitored” constituted a fairly serious interference with individuals’ privacy rights that could only be remedied by safeguards and protections limiting the extent to which such data could be used (para. 125). (In the context of that case, the Court found that Germany’s protections and restrictions were sufficient.) When you compare the language from these three cases, it would appear that the Grand Chamber in Zakharov is reasserting the requirement for individualized reasonable suspicion, including in national security cases, with full knowledge of the nature of surveillance considered by the Court in its two recent bulk interception cases.
  • The requirement of reasonable suspicion is bolstered by the Grand Chamber’s subsequent finding in Zakharov that the interception authorization (e.g., the court order or warrant) “must clearly identify a specific person to be placed under surveillance or a single set of premises as the premises in respect of which the authorisation is ordered. Such identification may be made by names, addresses, telephone numbers or other relevant information” (para. 264). In making this finding, it references paragraphs from Liberty describing the broad nature of the bulk interception warrants under British law. In that case, it was this description that led the Court to find the British legislation possessed insufficient clarity on the scope or manner of exercise of the State’s discretion to intercept communications. In one sense, therefore, the Grand Chamber seems to be retroactively annotating the Fourth Section’s Liberty decision so that it might become consistent with its decision in Zakharov. Without this revision, the Court would otherwise appear to depart to some extent — arguably, purposefully — from both Liberty and Weber.
  • Finally, the Grand Chamber took issue with the direct nature of the access enjoyed by Russian intelligence under the SORM system. The Court noted that this contributed to rendering oversight ineffective, despite the existence of a requirement for prior judicial authorization. Absent an obligation to demonstrate such prior authorization to the communications service provider, the likelihood that the system would be abused through “improper action by a dishonest, negligent or overly zealous official” was quite high (para. 270). Accordingly, “the requirement to show an interception authorisation to the communications service provider before obtaining access to a person’s communications is one of the important safeguards against abuse by the law-enforcement authorities” (para. 269). Again, this requirement arguably creates an unconquerable barrier for a number of modern bulk interception systems, which rely on the use of broad warrants to authorize the installation of, for example, fiber optic cable taps that facilitate the interception of all communications that cross those cables. In the United Kingdom, the Independent Reviewer of Terrorism Legislation David Anderson revealed in his essential inquiry into British surveillance in 2015, there are only 20 such warrants in existence at any time. Even if these 20 warrants are served on the relevant communications service providers upon the installation of cable taps, the nature of bulk interception deprives this of any genuine meaning, making the safeguard an empty one. Once a tap is installed for the purposes of bulk interception, the provider is cut out of the equation and can no longer play the role the Court found so crucial in Zakharov.
  • The Zakharov case not only levels a serious blow at bulk, untargeted surveillance regimes, it suggests the Grand Chamber’s intention to actively craft European Court of Human Rights jurisprudence in a manner that curtails such regimes. Any suggestion that the Grand Chamber’s decision was issued in ignorance of the technical capabilities or intentions of States and the continued preference for bulk interception systems should be dispelled; the oral argument in the case took place in September 2014, at a time when the Court had already indicated its intention to accord priority to cases arising out of the Snowden revelations. Indeed, the Court referenced such forthcoming cases in the fact sheet it issued after the Zakharov judgment was released. Any remaining doubt is eradicated through an inspection of the multiple references to the Snowden revelations in the judgment itself. In the main judgment, the Court excerpted text from the Director of the European Union Agency for Human Rights discussing Snowden, and in the separate opinion issued by Judge Dedov, he goes so far as to quote Edward Snowden: “With each court victory, with every change in the law, we demonstrate facts are more convincing than fear. As a society, we rediscover that the value of the right is not in what it hides, but in what it protects.”
  • The full implications of the Zakharov decision remain to be seen. However, it is likely we will not have to wait long to know whether the Grand Chamber intends to see the demise of bulk collection schemes; the three UK cases (Big Brother Watch & Ors v. United Kingdom, Bureau of Investigative Journalism & Alice Ross v. United Kingdom, and 10 Human Rights Organisations v. United Kingdom) pending before the Court have been fast-tracked, indicating the Court’s willingness to continue to confront the compliance of bulk collection schemes with human rights law. It is my hope that the approach in Zakharov hints at the Court’s conviction that bulk collection schemes lie beyond the bounds of permissible State surveillance.
Paul Merrell

Meeting of the Valdai International Discussion Club * President of Russia - 0 views

  • President of Russia Vladimir Putin: Colleagues, ladies and gentlemen,Allow me to greet you here at this regular meeting of the Valdai International Club.
  • Why is it that the efforts of, say, our American partners and their allies in their struggle against the Islamic State has not produced any tangible results? Obviously, this is not about any lack of military equipment or potential. Clearly, the United States has a huge potential, the biggest military potential in the world, only double crossing is never easy. You declare war on terrorists and simultaneously try to use some of them to arrange the figures on the Middle East board in your own interests, as you may think.
  • The end of the Cold War put an end to ideological opposition, but the basis for arguments and geopolitical conflicts remained. All states have always had and will continue to have their own diverse interests, while the course of world history has always been accompanied by competition between nations and their alliances. In my view, this is absolutely natural.The main thing is to ensure that this competition develops within the framework of fixed political, legal and moral norms and rules. Otherwise, competition and conflicts of interest may lead to acute crises and dramatic outbursts.We have seen this happen many times in the past. Today, unfortunately, we have again come across similar situations. Attempts to promote a model of unilateral domination, as I have said on numerous occasions, have led to an imbalance in the system of international law and global regulation, which means there is a threat, and political, economic or military competition may get out of control.
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  • Why is it that the efforts of, say, our American partners and their allies in their struggle against the Islamic State has not produced any tangible results? Obviously, this is not about any lack of military equipment or potential. Clearly, the United States has a huge potential, the biggest military potential in the world, only double crossing is never easy. You declare war on terrorists and simultaneously try to use some of them to arrange the figures on the Middle East board in your own interests, as you may think.
  • This year the discussion focusses on issues of war and peace. This topic has clearly been the concern of humanity throughout its history. Back in ancient times, in antiquity people argued about the nature, the causes of conflicts, about the fair and unfair use of force, of whether wars would always accompany the development of civilisation, broken only by ceasefires, or would the time come when arguments and conflicts are resolved without war.
  • President of Russia Vladimir Putin: Colleagues, ladies and gentlemen,Allow me to greet you here at this regular meeting of the Valdai International Club.
  • It is impossible to combat terrorism in general if some terrorists are used as a battering ram to overthrow the regimes that are not to one’s liking. You cannot get rid of those terrorists, it is only an illusion to think you can get rid of them later, take power away from them or reach some agreement with them.
  • It is impossible to combat terrorism in general if some terrorists are used as a battering ram to overthrow the regimes that are not to one’s liking. You cannot get rid of those terrorists, it is only an illusion to think you can get rid of them later, take power away from them or reach some agreement with them. The situation in Libya is the best example here.
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    This is a must-read speech by Putin. He takes the U.S. soundly to task on a variety of war & peace issues, but bluntly accuses the U.S. of going soft on ISL and of using terrorist organizations as U.S. weapons. Regretfully, he's right, of course. 
Paul Merrell

Killing Off Community Banks - Intended Consequence of Dodd-Frank? | WEB OF DEBT BLOG - 0 views

  • The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks. Community banks are rapidly disappearing — except in North Dakota, where they are thriving.  At over 2,300 pages, the Dodd Frank Act is the longest and most complicated bill ever passed by the US legislature. It was supposed to end “too big to fail” and “bailouts,” and to “promote financial stability.” But Dodd-Frank’s “orderly liquidation authority” has replaced bailouts with bail-ins, meaning that in the event of insolvency, big banks are to recapitalize themselves with the savings of their creditors and depositors. The banks deemed too big are more than 30% bigger than before the Act was passed in 2010, and 80% bigger than before the banking crisis of 2008. The six largest US financial institutions now have assets of some $10 trillion, amounting to almost 60% of GDP; and they control nearly 50% of all bank deposits.
  • Meanwhile, their smaller competitors are struggling to survive. Community banks and credit unions are disappearing at the rate of one a day. Access to local banking services is disappearing along with them. Small and medium-size businesses – the ones that hire two-thirds of new employees – are having trouble getting loans; students are struggling with sky-high interest rates; homeowners have been replaced by hedge funds acting as absentee landlords; and bank fees are up, increasing the rolls of the unbanked and underbanked, and driving them into the predatory arms of payday lenders. Even some well-heeled clients are being rejected. In an October 19, 2015 article titled  “Big Banks to America’s Firms: We Don’t Want Your Cash,” the Wall Street Journal reported that some Wall Street banks are now telling big depositors to take their money elsewhere or be charged a deposit fee. Municipal governments are also being rejected as customers. Bank of America just announced that it no longer wants the business of some smaller cities, which have been given 90 days to find somewhere else to put their money. Hundreds of local BofA branches are also disappearing.
  • Hardest hit, however, are the community banks. Today there are 1,524 fewer banks with assets under $1 billion than there were in June 2010, before the Dodd-Frank regulations were signed into law. Collateral Damage or Intended Result?
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  • Obviously, making the big banks bigger also serves the interests of the megabanks, whose lobbyists are well known to have their fingerprints all over the legislation. How they have been able to manipulate the rules was seen last December, when legislation drafted by Citigroup and slipped into the Omnibus Spending Bill loosened the Dodd-Frank regulations on derivatives. As noted in a Mother Jones article before the legislation was passed: The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo. These financial institutions control more than 90 percent of the $700 trillion derivatives market. If this measure becomes law, these banks will be able to use FDIC-insured money to bet on nearly anything they want. And if there’s another economic downturn, they can count on a taxpayer bailout of their derivatives trading business.
  • Regulation is clearly inadequate to keep these banks honest and ensure that they serve the public interest. The world’s largest private banks have been caught in criminal acts that former bank fraud investigator Prof. William K. Black calls the greatest frauds in history. The litany of frauds involves more than a dozen felonies, including bid-rigging on municipal bond debt; colluding to rig interest rates on hundreds of trillions of dollars in mortgages, derivatives and other contracts; exposing investors to excessive risk; and engaging in multiple forms of mortgage fraud. According to US Attorney General Eric Holder, the guilty have gone unpunished because they are “too big to prosecute.” If they are too big to prosecute, they are too big to regulate.
Paul Merrell

EU finally stands up to US 'bullying' over Iran sanctions | Asia Times - 0 views

  • By Pepe Escobar September 30, 2018 4:36 PM (UTC+8) Share Tweet Linkedin Print Email Share 0 Comment 0 History may one day rule this was the fateful geopolitical moment when the European Union clinched its PhD on foreign policy. Last week, EU foreign policy head Federica Mogherini and Iranian Foreign Minister Mohammad Javad Zarif, announced at the UN a “special purpose vehicle” (SPV) to deal with the Trump administration’s sanctions on Iran after the US unilaterally pulled out of the JCPOA,  also known as the Iran nuclear deal.
  • Mogherini crucially emphasized, “in practical terms, this will mean that EU member states will set up a legal entity to facilitate legitimate financial transactions with Iran and this will allow European companies to continue to trade with Iran in accordance with European Union law and could be open to other partners in the world.” The SPV, which according to Mogherini “is aimed at keeping trade with Tehran flowing while the US sanctions are in place,” could be in effect before the second stage of US sanctions begin in early November. This single initiative means Brussels is attempting to position itself as a serious geopolitical player, openly defying the US and essentially nullifying the Iran demonization campaign launched by the White House, CIA and State Department.
  • It may have taken a few months, but the EU-3 have finally realized what Moscow and Beijing already knew: any business with Iran – which is in the interest of all players – must bypass the US dollar. So now we come to a situation where the EU-3 will set up a multinational, state-backed, financial mechanism to help European companies conduct business with Iran in euros – and thus away from US financial enforcers. In parallel, we will have Russia and China doing business with Iran in rubles and yuan.
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  • And in a total symbiotic way, the SPV opens another path for Russia and China as well. After all, the SPV mechanism will bypass the Belgium-based SWIFT financial network, on which the US interferes at will. SPV may become the preferred post-SWIFT mechanism, allowing for even more cross-border business across Eurasia and expanding to the Global South.
  • The game reveals its complexity when we consider that Iran has been the catalyst for the EU to finally stand up to the US – and potentially get closer to Russia and China. What we see emerging is the contours of a possible cross-Eurasia alliance, in multiple fronts, between Russia-China-Iran – the three key nodes of Eurasia integration – and the EU-3. It’s a game worthy of a Persian chess master: involving energy wars, the balance of power in Southwest Asia, the absolute power of the US-controlled global financial system and the status of the US dollar – bolstered by the petrodollar – as the global reserve currency.
Paul Merrell

WHO ARE SYRIA'S WHITE HELMETS (terrorist linked)? - 0 views

  • The White Helmets have been demonstrated to be a primarily US and NATO funded organisation embedded in Al Nusra and ISIS held areas exclusively. This is an alleged “non-governmental” organisation, the definition of an NGO, that thus far has received funding from at least three major NATO governments, including $23 million from the US Government and $29 million (£19.7 million) from the UK Government, $4.5 million (€4 million) from the Dutch Government. In addition, it receives material assistance and training funded and run by a variety of other EU Nations. A request has been put into the EU Secretary General to provide all correspondence relating to the funding and training of the White Helmets. By law this information must be made transparent and available to the public. There has been a concerted campaign by a range of investigative journalists to expose the true roots of these Syria Civil Defence operatives, known as the White Helmets.  The most damning statement, however, did not come from us, but from their funders and backers in the US State Department who attempted to explain the US deportation of the prominent White Helmet leader, Raed Saleh, from Dulles airport on the 18th April 2016.
  • To condense our research on the Syria White Helmets, we have collated all relevant articles and interviews below.  We condemn wholeheartedly any senseless murder but we recommend that there is serious public and political re-evauluation of the morality of funding a US NATO organisation established to further “regime change” objectives in Syria. Mass murder is being committed across Syria and the region by US and NATO proxy terrorist militants. Funding the White Helmets will serve to prolong the suffering and bloodshed of the Syrian people.
  • Vanessa Beeley 21st Century Wire Who are the White Helmets? This is a question that everyone should be asking themselves. A hideous murder of a rising star in UK politics, Jo Cox MP, has just sent shock waves across the world. Within hours of her death, a special fund was established in her name to raise money for 3 causes. One of those causes is the Syrian White Helmets. Are we seeing a cynical and obscene exploitation of Jo Cox’s murder to revive the flagging credibility of a US State Department & UK Foreign Office asset on the ground in Syria, created and sustained as first responders for the US and NATO Al Nusra/Al Qaeda forces?
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  • FOLLOW THE MONEY: The White Helmets are just one component of the new NGO Complex.
  • “It was unclear whether Mr. Saleh’s name might have shown up on a database, fed by a variety of intelligence and security agencies and intended to guard against the prospect of terrorism suspects slipping into the country.” ~ New York Times Mark Toner, State Department spokesperson: “And any individual – again, I’m broadening my language here for specific reasons, but any individual in any group suspected of ties or relations with extremist groups or that we had believed to be a security threat to the United States, we would act accordingly. But that does not, by extension, mean we condemn or would cut off ties to the group for which that individual works for.” http://https://www.youtube.com/watch?v=792ODrhwKkk So we come back to the initial question.  Why is the tragic death of a passionate and ambitious politician being exploited? Why are all political parties in the UK endorsing the Jo Cox fund to provide financial assistance for an organisation the UK Government is already funding and training? Why are the public once more being used as political pawns to further our government’s imperialist objectives inside Syria and their covert, illegal, proxy intervention of a sovereign nation via both terrorist forces and phony humanitarian first responders?
  • The White Helmets are perhaps being demonstrated to be the most crucial component of the US and NATO shadow state building inside Syria.  Led by the US and UK this group is essential to the propaganda stream that facilitates the continued media and political campaign against the elected Syrian government and permits the US and NATO to justify their regime of crippling economic and humanitarian sanctions against the Syrian people. If this latest mechanised ‘NGO’ blueprint is successful then we could see it being re-deployed as key to future neo-colonialist projects. The White Helmets are a direct intra-venus line into the terrorist enclaves within Syria, acting as a conduit for information, equipment and medical support to maintain the US NATO forces. Is this the future of warfare, is this the “swarming” outlined in a 2000 report produced by the RAND Corporation and entitled: Swarming and the Future of Conflict. “The emergence of a military doctrine based on swarming pods and clusters requires that defense policymakers develop new approaches to connectivity and control and achieve a new balance between the two. Far more than traditional approachesto battle, swarming clearly depends upon robust information flows. Securing these flows, therefore, can be seen as a necessary condition for successful swarming.”
  • An important “previously unpublished interview with Jo Cox” was released today by Adam Barnett.  In this interview Jo Cox makes a clear statement regarding the way the UK Government should be maximising the use of their assets, the White Helmets, inside Syria: “Second thing: many organisations, whether it’s the White Helmets or others, have got really creative ideas about how to operate under the siege and civil war conditions. They’ve got really interesting ideas about channelling money, getting aid in, thinking creatively about how they operate, which DfID [Department for International Development] should be listening to. [emphasis added] And then the third thing is about giving airtime to civil society groups, making sure that they get more time on panels– and making sure this is representative of the diversity of civil society views as well, whether that’s women’s groups, or the White Helmets, or NGOs, or just doctors or people who are literally trying to get on with making society function in response to the humanitarian crisis.” Is this why we are seeing what is, in effect, crowd funding for  proxy war? Do we really want to look back and be “judged by history” for enabling conflict and state terrorism, violating international law and invading sovereign nations.  Are we prepared to accept the consequences of such actions, consequences that should be taken by our governments alone but are now being diffused outwards to the general public.  Is this an attempt by our government to disassociate themselves from their criminal actions?
  • Vanessa Beeley speaks to Mike Robinson of UK Column about recent executions of Syrian Arab Army soldiers celebrated by White Helmet operatives.” Watch:
  • “Speaking to Mnar Muhawesh on ‘Behind the Headline,’ investigative journalist Vanessa Beeley pulls back the curtain on the anti-Assad ‘freedom fighters’ and ‘moderate rebels,’ revealing a carefully calibrated propaganda campaign to drive US intervention in the war-torn country.” Watch:
  • Video made by Hands Off Syria in Sydney Australia based upon the research of Vanessa Beeley on the White Helmets. Watch: http://https://www.youtube.com/watch?v=5k6hSS6xBTw Mint Press: US Propaganda War in Syria: Report Ties White Helmets to US Intervention “White Helmets primary function is propaganda” reported an independent journalist, who tied the group to George Soros and the controversial advocacy group Avaaz.” Change.org Petition: Do NOT give 2016 Nobel Peace Prize to Syria White Helmets This petition has currently garnered 1370 signatures. The White Helmets have received over $ 40 million in funding from the US Government [USAID] and the UK Foreign Office despite their claims of being “fiercely independent and accepts no money from governments, corporations or anyone directly involved in the Syrian conflict.” Sputnik: Soros Sponsored NGO in Syria Aims at Ousting Assad not Saving Civilians “One of the largest humanitarian organizations operating in war-torn Syria – the White Helmets – has been accused of being an anti-government propaganda arm that encourages direct foreign intervention.” 21st Century Wire: Syria’s White Helmets, War by Way of Deception Part 1 This piece examines the role of the Syria Civil Defence aka,’The White Helmets’ currently operating in Syria and take a closer look at their financial sources and mainstream media partners in order to better determine if they are indeed “neutral” as media moguls proclaim these “humanitarians” to be.
  • 21st Century Wire: Part II. Syria’s White Helmets, “Moderate” Executioners The NGO hydra has no more powerful or influential serpentine head in Syria than the Syria Civil Defence aka The White Helmets who, according to their leader and creator, James Le Mesurier, hold greater sway than even ISIS or Al Nusra confabs over the Syrian communities. This article explores the White Helmet involvement in terrorist executions of civilians particularly in Aleppo. 21st Century Wire: Humanitarian Propaganda War Against Syria – Led by Avaaz and the White Helmets “The White Helmets in their haste to point the finger of blame at Moscow, managed to tweet about Russia’s air strikes several hours before the Russian Parliament actually authorized the use of the Air Force in Syria.” ~ Sott.net UK Column: Syria White Helmets “Mike Robinson speaks to Vanessa Beeley about the so-called NGO, the White Helmets. Are they really the humanitarian first responder organisation they claim to be?” Watch: http://https://www.youtube.com/watch?v=mLa9ztvAGWw Eva Bartlett: Human Rights Front Groups Warring on Syria This page will continue to expand as more so-called “Human Rights” groups are outed for propagating anti-Syria war rhetoric and false allegations against the Syrian government and Syrian Arab Army.  As it is, the list of players is quite extensive.  Below, I’ll list the known HR front people and groups (many, if not most, with links to the US State Department and criminals like George Soros). Ron Paul Institute: Syria the Propaganda Ring We have demonstrated that the White Helmets are an integral part of the propaganda vanguard that ensures obscurantism of fact and propagation of Human Rights fiction that elicits the well-intentioned and self righteous response from a very cleverly duped public. A priority for these NGOs is to keep pushing the No Fly Zone scenario which has already been seen to have disastrous implications for innocent civilians in Libya, for example. Dissident Voice: Seven Steps of Highly Effective Manipulators “But White Helmets primary function is propaganda. White Helmets demonizes the Assad government and encourages direct foreign intervention.”
  • Prof Tim Anderson: Syrian Women Denounce the White Helmets “A range of Syrian women have denounced the US-UK funded group the ‘White Helmets’, led by a former British soldier and recently revealed to be financed by USAID. They come from all the country’s communities (e.g. Sunni, Alawi, Druze, Christian) but, like most Syrians, prefer to identify simply as Syrian.” Khamenei.ir: Interview with Prof. Tim Anderson NATO’s Dirty War on Syria “The ‘White Helmets’ are a Wall Street creation, funded and led by the US and the UK, to give ‘humanitarian’ cover to the al Qaeda groups they support.” AlternativeView7:  Syria: White Helmets Exposed “We live in a world governed by propaganda where the majority of media mouthpieces are gagged by those who own them and only permitted to release information that serves the narrative of the ruling elite or Imperialist powers.”
  • Please note that the child that is rescued is very clean considering she has allegedly been buried under the rubble of “regime” bombing raids..we do not in any way wish to detract from the heroic work of the true first responders on the ground in Syria, the real Syria Civil Defence and the Red Crescent who are never mentioned in the western media but we do wish to draw your attention to the propaganda methods being employed to amplify US and NATO narratives that are insisting upon “regime change.”
  • We will add to the above articles and interviews as they become available.  Vanessa Beeley has just completed a speaking tour of the UK and Iran during which she highlighted the role of the NGO complex in general and the White Helmets in particular as a new breed of predatory humanitarianism being unleashed against target nations. Videos of her talks will be published as soon as they become available from the AV7 conference and Frome Stop War.
  • Author Vanessa Beeley is a special contributor to 21WIRE, and since 2011, she has spent most of her time in the Middle East reporting on events there – as a independent researcher, writer, photographer and peace activist. She is also a US Peace Council delegate and a volunteer with the Global Campaign to Return to Palestine. See more of her work at her blog The Wall Will Fall.
Paul Merrell

Russia Finance Minister: We May Abandon Dollar In Oil Trade As It Is Becoming "Too Risk... - 1 views

  • One month ago, the bond market and political pundits did a double take when according to the latest Treasury International Capital report, Russia had liquidated virtually all of its US Treasury holdings, selling off the bulk of its US government bonds in just two months, March and April.
  • And with the US threatening to impose a new set of "crushing" sanctions on Russia, including in retaliation for the alleged Novichok nerve gas attack in the UK, Russia not only intends to continue liquidating its US holdings, but to significantly reduce its reliance on the US Dollar. Speaking in an interview for the Rossiya 1 TV channel, Finance Minister Anton Siluanov said that Russia "aims to keep reducing its investments in American securities" following new U.S. sanctions and said that the "US dollar is becoming an unreliable tool for payments in international trade." The minister also hinted at the possibility of using national currencies instead of the dollar in oil trade. "I do not rule it out. We have significantly reduced our investment in US assets. In fact, the dollar, which is considered to be the international currency, becomes a risky tool for payments," Siluanov noted.
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