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The new disclosures come amid a debate over whether the surveillance court, which hears arguments only from the Justice Department, should be restructured for its evolving role. Proposals include overhauling how judges are selected to serve on it and creating a public advocate to provide adversarial arguments when the government offers complex legal analysis for expanding its powers.

The Raw Take order, back in 2002, also relaxed limits on sharing private information about Americans with foreign governments. The bar was higher for sharing with outsiders: Raw information was not provided, and even information deemed relevant about a terrorism issue required special approval. Under procedures described in a 1984 report, only the attorney general could authorize such dissemination. But on Aug. 20, 2002, Attorney General John Ashcroft, citing the recent order, secretly issued new procedures allowing the N.S.A. to provide information to foreign governments without his clearance. “If the proposed recipient(s) of the dissemination have a history of human rights abuses, that history should be considered in assessing the potential for economic injury, physical harm, or other restriction of movement, and whether the dissemination should be made,” he wrote.

Tim Worstall, writing in the UK Register, objects to Corbyn’s PQE (or OMF) on the ground that it cannot be “sterilized” the way QE can. When inflation hits, the process cannot be reversed. If the money is spent on infrastructure, it will be out there circulating in the economy and will not be retrievable. Worstall writes: QE is designed to be temporary, . . . because once people’s spending rates recover we need a way of taking all that extra money out of the economy. So we do it by using printed money to buy bonds, which injects the money into the economy, and then sell those bonds back once we need to withdraw the money from the economy, and simply destroy the money we’ve raised. . . . If we don’t have any bonds to sell, it’s not clear how we can reduce [the money supply] if large-scale inflation hits.

The problem today, however, is not inflation but deflation of the money supply. Some consumer prices may be up, but this can happen although the money supply is shrinking. Food prices, for example, are up; but it’s because of increased costs, including drought in California, climate change, and mergers and acquisitions by big corporations that eliminate competition. Adding money to the economy will not drive up prices until demand is saturated and production has hit full capacity; and we’re a long way from full capacity now. Before that, increasing “demand” will increase “supply.” Producers will create more goods and services. Supply and demand will rise together and prices will remain stable. In the US, the output gap – the difference between actual output and potential output – is estimated at about $1 trillion annually. That means the money supply could be increased by at least $1 trillion annually without driving up prices.

If PQE does go beyond full productive capacity, the government does not need to rely on the central bank to pull the money back. It can do this with taxes. Just as loans increase the money supply and repaying them shrinks it again, so taxes and other payments to the government will shrink a money supply augmented with money issued by the government. Using 2012 figures (drawing from an earlier article by this author), the velocity of M1 (the coins, dollar bills and demand deposits spent by ordinary consumers) was then 7. That means M1 changed hands seven times during 2012 – from housewife to grocer to farmer, etc. Since each recipient owed taxes on this money, increasing M1 by one dollar increased the tax base by seven dollars. Total tax revenue as a percentage of GDP in 2012 was 24.3%. Extrapolating from those figures, $1.00 changing hands seven times could increase tax revenue by $7.00 x 24.3% = $1.70. That means the government could, in theory, get more back in taxes than it paid out. Even with some leakage in those figures and deductions for costs, all or most of the new money spent into the economy might be taxed back to the government. New money could be pumped out every year and the money supply would increase little if at all.

Besides taxes, other ways to get money back into the Treasury include closing tax loopholes, taxing the $21 trillion or more hidden in offshore tax havens, and setting up a system of public banks that would return the interest on loans to the government. Net interest collected by U.S. banks in 2014 was $423 billion. At its high in 2007, it was $725 billion. Thus there are many ways to recycle an issue of new money back to the government. The same money could be spent and collected back year after year, without creating price inflation or hyperinflating the money supply. This not only could be done; it needs to be done. Conventional monetary policy has failed. Central banks have exhausted their existing toolboxes and need to explore some innovative alternatives.

The natural resources, human capital, and geopolitical advantages found within the borders of Ukraine, will now become the natural resources, human capital, and geopolitical advantages of Chevron, BP, Monsanto, a myriad of defense contractors, telecom corporations, and other familiar brands seen marauding across the planet leaving in its wake destitution, socioeconomic disparity, and perpetual division they intentionally sow in order to protect their holdings from any form of unified or organized opposition.    No matter how obvious the West’s game may be to some, had Ukraine fallen entirely under the control of Western interests, a multitude of excuses could and would have been peddled to explain the unraveling of Ukrainian society in terms that would exonerate the corporate-financier interests truly driving the crisis. But Ukraine has not entirely fallen to the West, and because of that, the planned decimation of western Ukraine, its economy, and its sovereignty will stand out in stark contrast to the eastern region that has remained beyond the West’s reach and within the orbit of Russia’s multipolar vision of the future.  

The entire country is in an impasse. No money will be forthcoming from the IMF until this legislation is adopted. In the meantime, Ukraine remains on the blacklist of its external creditors. Moreover, a controversial draft law on reforming the country’s gas transportation system was rejected (Itar-Tass, July 24, 2014). Both bills were tied into the government’s negotiations with both the EU and the IMF.

President Poroshenko (left) has intimated that the resignation of the cabinet has paved the way for a process of meaningful political restructuring:  “Society wants a full reset of state authorities,” said Mr Poroshenko. What is implied by Poroshenko’s statement is that the parliamentary process is slated to become defunct inasmuch as Rada is obligated to adopt the legislation demanded by the IMF and the European Union. And if the Rada does not adopt the legislation, the composition of the Parliament will be changed through a process of outright political manipulation. The 2014 budget project demanded by the IMF includes massive cuts in social spending coupled with increased allocations to the Armed Forces. Its adoption will contribute (virtually overnight) to a further process of the impoverishment of the Ukraine population.

Yatsenyuk intimated in his resignation speech that the State was bankrupt and that failure to abide by IMF demands would create social chaos: “The fact is that today you failed to vote for the laws, and I have nothing (with which) to pay wages of policemen, doctors, teachers; nothing to buy a rifle with, nothing to fuel an armored personnel carrier with. Today you failed to take a decision to fill the gas storages to allow us to live through the winter, to at last free ourselves from dependence on Russian gas,” (Rada, July 24, 2014)

In short, there are a number of currents in the EU and a growing recognition even among supporters of the troika that prevailing approach to debt is not sustainable.   One should have no illusions that Syriza will easily sweep the policies of austerity aside, but there is a palpable feeling on the continent that a tide is turning. It did not start with the Greek elections, but with last May’s European Parliament elections, where anti-austerity parties made solid gains. While some right-wing parties that opportunistically donned a populist mantle also increased their vote, they could not do so where they were challenged by left anti-austerity parties. For instance, the right did well in Denmark, France, and Britain, but largely because there were no anti-austerity voices on the left in those races. Elsewhere the left generally defeated their rightist opponents.   If Syriza is to survive, however, it must deliver, and that will be a tall order given the power of its opponents.

The French Communist Party hailed the Greek elections as “Good news for the French people,” and Jean-Luc Melenchon of the Parti de Gauche called for a left-wing alliance similar to Syriza. French President Francois Hollande made a careful statement about “growth and stability,” but the Socialist leader is trying to quell a revolt by the left flank of his own party over austerity, and Paris is closer to Rome than it is to Berlin on the debt issue.   While the conservative government of Portugal was largely silent, Left Bloc Member of Parliament Marisa Matias told a rally, “A victory for Syriza is a victory for all of Europe.”

As convoluted as Greek politics are, the main obstacle for Syriza will come from other EU members and the Troika.   Finnish Prime Minister Alex Stubb made it clear “that we would say a resounding ‘no’ to forgive loans.” Merkel’s chief of staff, Peter Altmaier, says, “We have pursued a policy which works in many European countries, and we will stick to in the future.” IMF head Christine Lagarde chimed in that “there are rules that must be met in the euro zone,” and that “we cannot make special exceptions for specific countries.”   But Tsipras will, to paraphrase the poet Swinburne, not go entirely naked into Brussels, but “trailing clouds of glory.” Besides the solid support in Greece, a number of other countries and movements will be in the Belgian capital as well.   Syriza is closely aligned in Spain with Podemos, now polling ahead of the ruling conservative People’s Party. “2015 will be the year of change in Spain and Europe,” tweeted Podemos leader Pablo Iglesias in the aftermath of the election, “let’s go Alexis, let’s go!” Unemployment in Spain is 24 percent, and over 50 percent for young people.

At home, the Party will have to take on Greece’s wealthy tax-dodging oligarchs if it hopes to extend democracy and start refilling the coffers drained by the troika’s policies. It will also need to get a short-term cash infusion to meet its immediate obligations, but without giving in to yet more austerity demands by the troika.   For all the talk about Syriza being “extreme”—it stands for Coalition of the Radical Left— its program, as Greek journalist Kia Mistilis points, is “classic ‘70s social democracy”: an enhanced safety net, debt moratorium, minimum wage raise, and economic stimulus.   Syriza is pushing for a European conference modeled on the 1953 London Debt Agreement that pulled Germany out of debt after World War II and launched the “wirtschaftswunder,”or economic miracle that created modern Germany. The Agreement waved more than 50 percent of Germany’s debt, stretched out payments over 50 years, and made repayment of loans dependent on the country running a trade surplus.

The centerpiece of Syriza’s Thessaloniki program is its “four pillars of national reconstruction,” which include “confronting the humanitarian crisis,” “restarting the economy and promoting tax justice,” “regaining employment,” and “transforming the political system to deepen democracy.”   Each of the “pillars” is spelled out in detail, including costs, income and savings, and, while it is certainly a major break with the EU’s current model, it is hardly the October Revolution.   The troika’s austerity model has been quite efficient at smashing trade unions, selling off public resources at fire sale prices, lowering wages and starving social services. As a statement by the International Union of Food Workers argues, “Austerity is not the produce of a deficient grasp of macroeconomics or a failure of ‘social dialogue,’ it is a conscious blueprint for expanding corporate power.”

Under an austerity regime, the elites do quite well, and they are not likely to yield without a fight.   But Syriza is poised to give them one, and “the little party that could” is hardly alone. Plus a number of important elections are looming in Estonia, Finland, and Spain that will give anti-austerity forces more opportunities to challenge the policies of Merkel and the troika.   The spectre haunting Europe may not be the one that Karl Marx envisioned, but it is putting a scare into the halls of the rich and powerful.

Ukraine’s debt is poised to extend declines as investors are underestimating losses in the country’s planned debt reorganization, analysts at Goldman Sachs Group Inc. and JPMorgan Chase & Co. said on Friday in separate reports. “Ukraine is bankrupt and the only reason the bonds are trading at 40-45 is because of IMF involvement,” Dmitri Barinov, a money manager who oversees $2.6 billion of emerging-market bonds at Union Investment Privatfonds GmbH in Frankfurt, said by e-mail on Monday. “Ukraine has neither the possibility nor the willingness to pay its debt, but will be forced to restructure under IMF conditions.” The hryvnia’s 51 percent depreciation against the dollar this year, following a 48 percent drop in 2014, is driving up the prices of imports and energy, while making external debt payments more difficult for Ukraine. Gontereva yielded control of the currency earlier this month, allowing it to weaken in an IMF-backed move which helped eliminate an unofficial street market for currency transactions. “The National Bank of Ukraine has few options, with the West still dragging its feet over financial support,” Ash, the chief emerging-markets economist at Standard Bank in London, said by e-mail.

Despite growing opposition in some quarters to ending the NSA’s program, a “clean” authorization — one that would enable its continuation without any changes — is unlikely, lawmakers from both parties say. Sen. Ron Wyden (D-Ore.), a leading opponent of the NSA’s program in its current format, said he would be “surprised if there are 60 votes” in the Senate for that. In the House, where there is bipartisan support for reining in surveillance, it’s a longer shot still. “It’s a toxic vote back in your district to reauthorize the Patriot Act, if you don’t get some reforms” with it, said Rep. Thomas Massie (R-Ky.). The House last fall passed the USA Freedom Act, which would have ended the NSA program, but the Senate failed to advance its own version.The House and Senate judiciary committees are working to come up with new bipartisan legislation to be introduced soon.

The tech firms and privacy groups’ demands are a baseline, they say. Besides ending bulk collection, they want companies to have the right to be more transparent in reporting on national security requests and greater declassification of opinions by the Foreign Intelligence Surveillance Court.

Some legal experts have pointed to a little-noticed clause in the Patriot Act that would appear to allow bulk collection to continue even if the authority is not renewed. Administration officials have conceded privately that a legal case probably could be made for that, but politically it would be a tough sell. On Tuesday, a White House spokesman indicated the administration would not seek to exploit that clause. “If Section 215 sunsets, we will not continue the bulk telephony metadata program,” National Security Council spokesman Edward Price said in a statement first reported by Reuters. Price added that allowing Section 215 to expire would result in the loss of a “critical national security tool” used in investigations that do not involve the bulk collection of data. “That is why we have underscored the imperative of Congressional action in the coming weeks, and we welcome the opportunity to work with lawmakers on such legislation,” he said.

At first glance, the “bail-in” resembles the normal capitalist process of liabilities restructuring that should occur when a bank becomes insolvent. . . . The difference with the “bail-in” is that the order of creditor seniority is changed. In the end, it amounts to the cronies (other banks and government) and non-cronies. The cronies get 100% or more; the non-cronies, including non-interest-bearing depositors who should be super-senior, get a kick in the guts instead. . . . In principle, depositors are the most senior creditors in a bank. However, that was changed in the 2005 bankruptcy law, which made derivatives liabilities most senior. Considering the extreme levels of derivatives liabilities that many large banks have, and the opportunity to stuff any bank with derivatives liabilities in the last moment, other creditors could easily find there is nothing left for them at all.

 Citibank is particularly vulnerable to swaps on the price of oil. Brent crude dropped from a high of $114 per barrel in June 2014 to a low of $36 in December 2015.

In short, the goal of the bail-in scheme is to place losses on private creditors. Alternatives that allow them to escape could soon be blocked.

In turn, the French Minister of Defense acknowledged –prior to the conduct of a police investigation– that the authors of the attack were “most likely” led by Mokhtar Belmokhtar’s group in association with Al Qaeda in the Islamic Maghreb (AQIM). What Defense Minister Jean-Yves Le Drain failed to mention was that both Belmokhtar and AQIM have longstanding links to the CIA, which in turn has a working relationship with France’s  General Directorate for External Security, Direction générale de la sécurité extérieure (DGSE).  Casually ignored by the Western media, the leaders of Al Qaeda in the Islamic Maghreb (AQIM) including Belmokhtar were trained and recruited by the CIA in Afghanistan. Acknowledged by the Washington based Council on Foreign Relations (CFR): Most of AQIM’s major leaders are believed to have trained in Afghanistan during the 1979-1989 war against the Soviets as part of a group of North African volunteers known as “Afghan Arabs” that returned to the region and radicalized Islamist movements in the years that followed. The group is divided into “katibas” or brigades, which are clustered into different and often independent cells. The group’s top leader, or emir, since 2004 has been  Abdelmalek Droukdel, also known as Abou Mossab Abdelwadoud, a trained engineer and explosives expert who has fought in Afghanistan and has roots with the GIA in Algeria. (Council on Foreign Relations, Al Qaeda in the Islamic Maghreb, cfr.org, undated)

Mokhtar Belmokhtar: Post Cold War CIA intelligence asset?  The Council on Foreign Relations erroneously describes “Mokhtar Belmokhtar as the one-eyed veteran of the anti-Soviet Afghan insurgency.” (CFR, op cit, emphasis added). Belmokhtar (born in 1972) did not fight in the Soviet-Afghan war (1979-1989). He was recruited in 1991 at the age of 19 in the immediate wake of the Cold War. CIA recruitment continued in the wake of the Cold War. It was in large part directed against the Russian Federation and the former Soviet Republics as well as the Middle East. The purpose of this later CIA recruitment was to establish a network of “intelligence assets” to be used in the CIA’s post-cold war insurgencies. Leaders of the Chechen Islamist insurgencies were also trained in CIA camps in Afghanistan and Pakistan, including the notorious leader of the Chechen insurrection Ibn al-Khattab (a citizen of Saudi Arabia).

Following his training and recruitment and a two year stint in Afghanistan (1991-1993), Mokhtar Belmokhtar was sent back to Algeria in 1993 at age 21 where he joined the  Salafist Group for Preaching and Combat (GSPC) (emblem left). The latter was initially part of the so-called Armed Islamic Group  (Groupe islamique armé (GIA)) in Algeria which sought to overthrow the secular Algerian Government with a view to installing a theocratic Islamic State. Supported covertly by the CIA, Belmokhtar fought in Southern Algeria in the civil war opposing Islamist forces and the secular government. He was also  instrumental in the integration and merging of “jihadist” forces. In January 2007,  the Armed islamic Group (GIA) which had been prominent in the 1990s, officially changed its name to the Al-Qaeda Organization in the Islamic Maghreb (AQIM). In turn, as of 2007, the newly formed AQIM established a close relationship with the Libya Islamic Fighting Group (LIFG), which was directly supported by NATO during the 2011 war on Libya, “providing weapons, training, special forces and even aircraft to support them in the overthrow of Libya’s government.” (Tony Cartalucci, The Geopolitical Reordering of Africa: US Covert Support to Al Qaeda in Northern Mali, France “Comes to the Rescue”, Global Research, January 2013). British SAS Special Forces had also been brought into Libya prior to the onset of the insurrection, acting as military advisers to the LIFG. In fact, what has unfolded since the war on Libya is the merging of LIFG and AQIM forces. In turn, many of the LIFG operatives have been dispatched to Syria to fight within the ranks of Al Nusrah and the ISIS.

It is worth noting that the 2007  restructuring  of jihadist forces in Algeria and the Maghreb coincided with  the appointment of Robert Stephen Ford as US ambassador to Algeria in August 2006. Ford had been reassigned by the State Department from Baghdad to Algiers. From 2004 to 2006, he worked closely with Ambassador John Negroponte at the US embassy in Baghdad in supporting the creation of  both Shia and Sunni death squads in Iraq. This project consisted in recruiting and training terrorists modelled on the so-called “Salvador Option” which had been applied by the CIA in Central America. Negroponte as we recall played a central role in supporting the Contras terrorists in Nicaragua as ambassador to Honduras from 1981-1985. For further details see Michel Chossudovsky, “The Salvador Option For Syria”: US-NATO Sponsored Death Squads Integrate “Opposition Forces”, Global Research,  May 28, 2012) The 2006 appointment of Robert Stephen Ford to head the US Embassy in Algeria was timely. It coincided with the consolidation of jihadist groups within Algeria and the Maghreb. It preceded the 2011 US-NATO sponsored insurrections in Libya and Syria. In 2010, Ford was approved by the US Congress as US Ambassador to Syria. He presented his credentials to president Bashar al Assad in January 2011, barely two months prior to the onslaught of the terrorist insurrection in the border city of Daraa in mid-March 2011. Ford played a central role in assisting the channelling of US and allied support to Syrian “opposition” groups including Al Nusrah and the ISIS.

Belmokhtar’s history and involvement in Afghanistan confirms that from the very outset he was an instrument of US intelligence. While, he operates with a certain degree of independence and autonomy in relation to his intelligence sponsors, he and his organization are bona fide CIA “intelligence assets”, which can be used by the CIA as part of a covert agenda. There are various definitions of  an “intelligence asset”. From the standpoint of US intelligence, “assets” linked up to terrorist organizations must not be aware that they are supported and monitored by Western intelligence. With regard to Al Qaeda, from the outset in 1979, the CIA chose to operate through various front organizations as well as indirectly through its Saudi, Qatari and Pakistani intelligence partners. CIA’s Milton Beardman who played a central role in the Soviet Afghan war confirms that members of Al Qaeda including Osama bin Laden were not aware of the role they were playing on behalf of Washington. In the words of bin Laden (quoted by Beardman): “neither I, nor my brothers saw evidence of American help”(Michel Chossudovsky, Who is Osama bin Laden, Global Research, September 12, 2001): Motivated by nationalism and religious fervor, the Islamic warriors were unaware that they were fighting the Soviet Army on behalf of Uncle Sam. While there were contacts at the upper levels of the intelligence hierarchy, Islamic rebel leaders in theatre had no contacts with Washington or the CIA.  (Ibid) Amply documented, Al Qaeda in the Islamic Maghreb (AQIM)and its affiliated groups including the Libya Islamic Fighting Group (LIFG) was serving the interests of the Western military alliance. Confirmed by the Washington Post, June 29, 2011 (See below), France was supplying weapons to the LIFG at the height of NATO’s bombing raids.

AQIM in turn was receiving weapons from the LIFG, which was supported by NATO. Moreover, LIFG mercenaries had integrated AQIM brigades. According to alleged Terror Mastermind Mokhtar Belmokhtar, who also coordinated the 2013 In Amenas Mali kidnapping operation: “We have been one of the main beneficiaries of the revolutions in the Arab world. As for our benefiting from the (Libyan) weapons, this is a natural thing in these kinds of circumstances.” http://www.hanford.gov/c.cfm/oci/ci_terrorist.cfm?dossier=174 Al Qaeda in the Islamic Maghreb (AQIM) is indelibly tied into a Western intelligence agenda. While it is described  as  ”one of the region’s wealthiest, best-armed militant groups”, financed covertly by Saudi Arabia and Qatar. France’s  Canard enchaîné revealed (June 2012) that Qatar (a staunch ally of the United States) has been funding various terrorist entities in Mali: The original report cites a French military intelligence report as indicating that Qatar has provided financial support to all three of the main armed groups in northern Mali: Iyad Ag Ghali’s Ansar Ed-Dine, al-Qa’ida in the Islamic Maghreb (AQIM) and the Movement for Unity and Jihad in West Africa (MUJWA). The amount of funding given to each of the groups is not mentioned but it mentions that repeated reports from the French DGSE to the Defense Ministry have mentioned Qatar’s support for ‘terrorism’ in northern Mali. (quoted by Jeune Afrique June 2012)

Qatar is a proxy state, a de facto Persian Gulf territory largely controlled by Washington. It hosts  a number of Western military and intelligence facilities. The Emir of Qatar does not finance terrorism without the consent of the CIA. And with regard to Mali, the CIA coordinates its activities in liaison with its French intelligence partners and counterparts, including la Direction du renseignement militaire (DRM) and the Direction générale de la sécurité extérieure (DGSE). The implications are obvious and should be carefully understood by Western public opinion. Inasmuch as Belmokhtar and AQIM are “intelligence assets”, both US and French intelligence are (indirectly) behind the Bamako attacks. Both US and French intelligence are complicit in the State sponsorship of terrorism.