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Paul Merrell

The Trump/Sanders Phenomena | Consortiumnews - 0 views

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

The Handover - An FP Slideshow | Foreign Policy - 0 views

  • Tuesday marked a milestone for the 12-year-old war in Afghanistan, with NATO forces officially handing over responsibility for the country's security to Afghan government forces. Since 2010, when President Barack Obama accelerated training as part of his rapid surge of forces into the country, the Afghan National Army has grown from around 100,000 members to 195,000. But it still faces a number of challenges, including a desertion rate so high that it needs 50,000 new recruits every year to replace those who leave). In December 2012, a Pentagon report determined that only one of the Afghan military's 23 brigades was able to operate effectively without NATO support. Now, Afghan troops will have to do just that; except in rare cases, they will no longer be able to rely on the support of U.S. warplanes, medical evacuation helicopters, or ground troops.
  • Tuesday marked a milestone for the 12-year-old war in Afghanistan, with NATO forces officially handing over responsibility for the country's security to Afghan government forces. Since 2010, when President Barack Obama accelerated training as part of his rapid surge of forces into the country, the Afghan National Army has grown from around 100,000 members to 195,000. But it still faces a number of challenges, including a desertion rate so high that it needs 50,000 new recruits every year to replace those who leave). In December 2012, a Pentagon report determined that only one of the Afghan military's 23 brigades was able to operate effectively without NATO support. Now, Afghan troops will have to do just that; except in rare cases, they will no longer be able to rely on the support of U.S. warplanes, medical evacuation helicopters, or ground troops. Here's a look back at the long preparation for this week's big handover. An Afghan National Army soldier assigned to the Mobile Strike Force Kandak fires an RPG-7 rocket-propelled grenade launcher during a live-fire exercise supervised by Marines Team on Camp Shorabak, Helmand province, Afghanistan on May 20, 2013.
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    Here in one paragraph are a lot of the reasons two of Obama's claims about U.S. plans in Afghanistan cannot both be true: [i] all U.S. -and NATO combat troops will be withdrawn from Afghanistan by the end of 2014; and [ii] a fairly large contingent of U.S. non-combat troops will remain on U.S. bases in Afghanistan to advise, train, and support the Karzai government's defense forces.  1. The "surge" didn't work even though Obama sent more troops than the military had requested. Even at the peak of U.S. forces in that country, the U.S. military had been beaten back into enclaves by the Taliban. Nonetheless, Obama has  continued to draw down U.S. forces there. NATO allies have been pulling up their tent pegs too. 2. The Afghan government forces are utterly incapable of holding out against the Taliban without strong NATO backing that Obama says is ending. 3. Therefore, a small non-combatant U.S. force left behind after 2014 would be virtually defenseless if left behind. There seems to be no question that U.S. involvement in Afghanistan is winding down steadily. And Obama isn't dumb enough to have a few thousand U.S. troops stay behind to be slaughtered. So his "stay behind" claims are a bluff. The Taliban can read those tea leaves at least as well as I can. This is Vietnam War Redux, also a repeat of the Soviet retreat from Afghanistan. Obama has no credible stick to wield in negotiations with the Taliban. Therefore, the negotiations are either a sham or Obama has to offer the Taliban a carrot of suitable size. The Taliban has no incentive to participate in a sham; they've won their war and the U.S. departure is imminent. Therefore, we need consider what carrot Obama might offer the Taliban. A better royalty agreement on the sidetracked Trans-Afghanistan Pipeline that would supply India with natural gas? .  That doesn't seem enough.  But a consortium of western investors willing to pay royalties t
Gary Edwards

Did the White House Help Plan the Syrian Chemical Attack? - 0 views

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    "by Yossef Bodansky excerpt: There is a growing volume of new evidence from numerous sources in the Middle East - mostly affiliated with the Syrian opposition and its sponsors and supporters - which makes a very strong case, based on solid circumstantial evidence, that the August 21, 2013, chemical strike in the Damascus suburbs was indeed a pre-meditated provocation by the Syrian opposition. The extent of US foreknowledge of this provocation needs further investigation because available data puts the "horror" of the Barack Obama White House in a different and disturbing light. On August 13-14, 2013, Western-sponsored opposition forces in Turkey started advance preparations for a major and irregular military surge. Initial meetings between senior opposition military commanders and representatives of Qatari, Turkish, and US Intelligence ["Mukhabarat Amriki"] took place at the converted Turkish military garrison in Antakya, Hatay Province, used as the command center and headquarters of the Free Syrian Army (FSA) and their foreign sponsors. Very senior opposition commanders who had arrived from Istanbul briefed the regional commanders of an imminent escalation in the fighting due to "a war-changing development" which would, in turn, lead to a US-led bombing of Syria. The opposition forces had to quickly prepare their forces for exploiting the US-led bombing in order to march on Damascus and topple the Bashar al-Assad Government, the senior commanders explained. The Qatari and Turkish intelligence officials assured the Syrian regional commanders that they would be provided with plenty of weapons for the coming offensive. Indeed, unprecedented weapons distribution started in all opposition camps in Hatay Province on August 21-23, 2013. In the Reyhanli area alone, opposition forces received well in excess of 400 tons of weapons, mainly anti-aircraft weaponry from shoulder-fired missiles to ammunition for light-guns and machine guns. The weapons were distri
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    "by Yossef Bodansky excerpt: There is a growing volume of new evidence from numerous sources in the Middle East - mostly affiliated with the Syrian opposition and its sponsors and supporters - which makes a very strong case, based on solid circumstantial evidence, that the August 21, 2013, chemical strike in the Damascus suburbs was indeed a pre-meditated provocation by the Syrian opposition. The extent of US foreknowledge of this provocation needs further investigation because available data puts the "horror" of the Barack Obama White House in a different and disturbing light. On August 13-14, 2013, Western-sponsored opposition forces in Turkey started advance preparations for a major and irregular military surge. Initial meetings between senior opposition military commanders and representatives of Qatari, Turkish, and US Intelligence ["Mukhabarat Amriki"] took place at the converted Turkish military garrison in Antakya, Hatay Province, used as the command center and headquarters of the Free Syrian Army (FSA) and their foreign sponsors. Very senior opposition commanders who had arrived from Istanbul briefed the regional commanders of an imminent escalation in the fighting due to "a war-changing development" which would, in turn, lead to a US-led bombing of Syria. The opposition forces had to quickly prepare their forces for exploiting the US-led bombing in order to march on Damascus and topple the Bashar al-Assad Government, the senior commanders explained. The Qatari and Turkish intelligence officials assured the Syrian regional commanders that they would be provided with plenty of weapons for the coming offensive. Indeed, unprecedented weapons distribution started in all opposition camps in Hatay Province on August 21-23, 2013. In the Reyhanli area alone, opposition forces received well in excess of 400 tons of weapons, mainly anti-aircraft weaponry from shoulder-fired missiles to ammunition for light-guns and machine guns. The weapons were distri
Paul Merrell

The Real Villains of the Bergdahl Tale | Consortiumnews - 0 views

  • The right-wing media is denouncing Sgt. Bowe Bergdahl as a “deserter” who wasn’t worth ransoming from the Taliban, but the real villains are the architects of the disastrous Iraq and Afghan wars who frivolously put the many Bergdahls in harm’s way, writes ex-CIA analyst Ray McGovern. By Ray McGovern For me, the Sgt. Bowe Bergdahl affair brings back angry memories of how, in 2009, President Barack Obama caved in to be-medaled and be-ribboned generals like David Petraeus and ordered a modified-limited-hangout-type “surge” of 33,000 troops into Afghanistan. Consequential cowardice at work – trading lives for political advantage – as bad as it gets. Bergdahl was quick to discern that he and his comrades were pawns of a policy doing far more harm than good in terms of helping the Afghans. Emailing from Afghanistan in late June 2009, Bergdahl pointed out the main problem in these words: “In the US army you are cut down for being honest… but if you are a conceited brown nosing shit-bag you will be allowed to do what ever you want.”
  • But how far up the line did this behavior go? Did it include Petraeus, described by CENTCOM commander Admiral William “Fox” Fallon as “an ass-kissing little chickenshit” after a meeting at which Petraeus fawned over Fallon, then his superior? (Why is it that the Fox Fallons are the ones who get sacked? Although Petraeus’s charmed government career was finally done in by a sex scandal in December 2012.) Do Fallon’s epithets toward Petraeus apply equally to commander-in-chief Obama who ordered the “surge” into Afghanistan, which – like its first still-born twin “surge” in Iraq two years earlier – predictably did little more than get a lot of folks killed and buy some time for the architects of the two misguided adventures to get some distance between their original decisions and the ultimate failures.
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    Former CIA analyst Ray McGovern has some very harsh words for Barack Obama and some good advice as well. I was a little slowed-down by McGovern's use of the term "right wing" to describe television networks; dumping on Sgt. Bergdahl certainly wasn't confined to Fox News; it's happening throughout mainstream media.  Then I realized that he was using the term in the sense employed nearly everywhere but in U.S. mainstream media land; "right-wing" denotes a position that supports maximal government power and minimizes the citizenry's rights. "Left-wing" takes the opposite tack. And within those senses, McGovern is absolutely correct to brand all of mainstream media as right-wing. They're virtually all pro-oligarchists peddling American exceptionalism fascism under an imperial presidency as being good for all Americans.      
Paul Merrell

Hamas popularity 'surges after Gaza war' - Middle East - Al Jazeera English - 0 views

  • Hamas's support has surged after its war with Israel and would win Palestinian elections if they were held today, an opinion poll suggests. The Palestinian Centre for Policy and Survey Research's poll, released on Tuesday, suggested Hamas leader Ismail Haniya would win almost twice as many votes as Fatah's Mahmoud Abbas, in a two-way presidential election.
  • More than half of respondents said armed resistance - a pillar of Hamas's ideology - would help gain a Palestinian state, as opposed to 20 percent who said they supported non-violent means. And 79 percent of respondents said they believed that Hamas won the Gaza war, three percent backed Israel and 17 percent said both sides were losers. There have been no national elections since Hamas won polls in 2007 and took control of Gaza.  Hamas has fought three wars against Israel while Fatah has pursued on-off talks, mediated by the United States, which have so far failed to secure an independent Palestinian state in the West Bank, East Jerusalem and Gaza. Meanwhile, a rare rally by thousands of Hamas supporters in Ramallah on Saturday passed without incident under the watchful eyes of plain-clothes Fatah forces, although Hamas complained that several of its backers were arrested afterwards. The Palestinian Centre for Policy and Survey Research describes itself as a Ramallah-based independent non-profit institution and think tank.  The survey was conducted with more than 1,000 Palestinians in Gaza and the West Bank.
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    Not good news for U.S.-Israeli hand-maiden, Mahmoud Abbas. Abbas' term in office expired two years ago or so. Elections in Palestine are long overdue.  
Paul Merrell

Campaign to End NSA Warrantless Surveillance Surges Past 500,000 Signers | Electronic F... - 0 views

  • Over five hundred thousand people have signed onto the Stop Watching Us campaign, a nonpartisan, grassroots campaign opposing the dragnet surveillance programs of the National Security Agency (NSA).  Galvanized by newly surfaced evidence confirming the NSA’s surveillance of the phone records and Internet activity of individuals in the United States and abroad, the Stop Watching Us coalition is seeking public accountability and tangible reform to rein in unconstitutional surveillance. 
  • Yesterday, Sir Tim Berners-Lee, the inventor of the World Wide Web, also added his support to the campaign.  He was joined by internationally renowned artist Ai Weiwei. Other prominent supporters include Icelandic Parliamentarian Birgitta Jónsdóttir, author Cory Doctorow, Pentagon Papers whistleblower Daniel Ellsberg, and actor John Cusack.
  • "This campaign has been lightening-fast. Hundreds of thousands of people have now called on Congress to provide a full accounting of the National Security Agency’s powerful and frankly unsettling spying practices," said EFF Staff Attorney Mark Rumold, "Now all eyes are turned on Congress to see if they’ll do the right thing and be responsive to the will of the people." Every time a person signs onto the stopwatching.us site, emails opposing dragnet surveillance are sent to that individual’s elected officials or to the president. These emails call for a full investigation and public accounting of the National Security Agency’s spying practices, reform to the law to prevent such surveillance, and holding public officials accountable for the role they played. In addition to signing onto Stop Watching Us, individuals who oppose NSA spying can call their members of Congress using the dedicated call line 1-STOP-323-NSA (1-786-732-3672). Read more about contacting Congress, including more privacy-friendly ways of calling Congress. You can also visit stopwatching.us to add your name to the campaign.
Paul Merrell

America, the Election, and the Dismal Tide « LobeLog - 0 views

  • I thought about that March night as the election results rolled in, as the New York Times forecast showed Hillary Clinton’s chances of winning the presidency plummet from about 80% to less than 5%, while Trump’s fortunes skyrocketed by the minute. As Clinton’s future in the Oval Office evaporated, leaving only a whiff of her stale dreams, I saw all the foreign-policy certainties, all the hawkish policies and military interventions, all the would-be bin Laden raids and drone strikes she’d preside over as commander-in-chief similarly vanish into the ether. With her failed candidacy went the no-fly escalation in Syria that she was sure to pursue as president with the vigor she had applied to the disastrous Libyan intervention of 2011 while secretary of state.  So, too, went her continued pursuit of the now-nameless war on terror, the attendant “gray-zone” conflicts — marked by small contingents of U.S. troops, drone strikes, and bombing campaigns — and all those munitions she would ship to Saudi Arabia for its war in Yemen. As the life drained from Clinton’s candidacy, I saw her rabid pursuit of a new Cold War start to wither and Russo-phobic comparisons of Putin’s rickety Russian petro-state to Stalin’s Soviet Union begin to die.  I saw the end, too, of her Iron Curtain-clouded vision of NATO, of her blind faith in an alliance more in line with 1957 than 2017. As Clinton’s political fortunes collapsed, so did her Israel-Palestine policy — rooted in the fiction that American and Israeli security interests overlap — and her commitment to what was clearly an unworkable “peace process.”  Just as, for domestic considerations, she would blindly support that Middle Eastern nuclear power, so was she likely to follow President Obama’s trillion-dollarpath to modernizing America’s nuclear arsenal.  All that, along with her sure-to-be-gargantuan military budget requests, were scattered to the winds by her ringing defeat.
  • Clinton’s foreign policy future had been a certainty.  Trump’s was another story entirely.  He had, for instance, called for a raft of military spending: growing the Army and Marines to a ridiculous size, building a Navy to reach a seemingly arbitrary and budget-busting number of ships, creating a mammoth air armada of fighter jets, pouring money into a missile defense boondoggle, and recruiting a legion of (presumably overweight) hackers to wage cyber war.  All of it to be paid for by cutting unnamed waste, ending unspecified “federal programs,” or somehow conjuring up dollars from hither and yon.  But was any of it serious?  Was any of it true?  Would President Trump actually make good on the promises of candidate Trump?  Or would he simply bark “Wrong!” when somebody accused him of pledging to field an army of 540,000 active duty soldiers or build a Navy of 350 ships. Would Trump actually attempt to implement his plan to defeat ISIS — that is, “bomb the shit out of them” and then “take the oil” of Iraq?  Or was that just the bellicose bluster of the campaign trail?  Would he be the reckless hawk Clinton promised to be, waging wars like the Libyan intervention?  Or would he follow the dictum of candidate Trump who said, “The current strategy of toppling regimes, with no plan for what to do the day after, only produces power vacuums that are filled by terrorists.” Outgoing representative Randy Forbes of Virginia, a contender to be secretary of the Navy in the new administration, recently said that the president elect would employ “an international defense strategy that is driven by the Pentagon and not by the political National Security Council… Because if you look around the globe, over the last eight years, the National Security Council has been writing that. And find one country anywhere that we are better off than we were eight years [ago], you cannot find it.”
  • Such a plan might actually blunt armed adventurism, since it was war-weary military officials who reportedly pushed back against President Obama’s plans to escalate Iraq War 3.0.  According to some Pentagon-watchers, a potentially hostile bureaucracy might also put the brakes on even fielding a national security team in a timely fashion. While Wall Street investors seemed convinced that the president elect would be good for defense industry giants like Lockheed Martin and General Dynamics, whose stocks surged in the wake of Trump’s win, it’s unclear whether that indicates a belief in more armed conflicts or simply more bloated military spending. Under President Obama, the U.S. has waged war in or carried out attacks on at least eight nations — Afghanistan, Iran, Iraq, Pakistan, Somalia, Yemen, Libya, and Syria.  A Clinton presidency promised more, perhaps markedly more, of the same — an attitude summed up in her infamous comment about the late Libyan autocrat Muammar Gaddafi: “We came, we saw, he died.”  Trump advisor Senator Jeff Sessions said, “Trump does not believe in war. He sees war as bad, destructive, death and a wealth destruction.”  Of course, Trump himself said he favors committing war crimes like torture and murder.  He’s also suggested that he would risk war over the sort of naval provocations — like Iranian ships sailing close to U.S. vessels — that are currently met with nothing graver than warning shots. So there’s good reason to assume Trump will be a Clintonesque hawk or even worse, but some reason to believe — due to his propensity for lies, bluster, and backing down — that he could also turn out to be less bellicose.
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  • Given his penchant for running businesses into the ground and for economic proposals expected to rack up trillions of dollars in debt, it’s possible that, in the end, Trump will inadvertently cripple the U.S. military.  And given that the government is, in many ways, a national security state bonded with a mass of money and orbited by satellite departments and agencies of far lesser import, Trump could even kneecap the entire government.  If so, what could be catastrophic for Americans — a battered, bankrupt United States — might, ironically, bode well for the wider world.
  • At the time, I told my questioner just what I thought a Hillary Clinton presidency might mean for America and the world: more saber-rattling, more drone strikes, more military interventions, among other things.  Our just-ended election aborted those would-be wars, though Clinton’s legacy can still be seen, among other places, in the rubble of Iraq, the battered remains of Libya, and the faces of South Sudan’s child soldiers.  Donald Trump has the opportunity to forge a new path, one that could be marked by bombast instead of bombs.  If ever there was a politician with the ability to simply declare victory and go home — regardless of the facts on the ground — it’s him.  Why go to war when you can simply say that you did, big league, and you won? The odds, of course, are against this.  The United States has been embroiled in foreign military actions, almost continuously, since its birth and in 64 conflicts, large and small, according to the military, in the last century alone.  It’s a country that, since 9/11, has been remarkably content to wage winless, endless wars with little debate or popular outcry.  It’s a country in which Barack Obama won election, in large measure, due to dissatisfaction with the prior commander-in-chief’s signature war and then, after winning a Nobel Peace Prize and overseeing the withdrawal of troops from Iraq, reengaged in an updated version of that very same war — bequeathing it now to Donald J. Trump. “This Trump.  He’s a crazy man!” the African aid worker insisted to me that March night.  “He says some things and you wonder: Are you going to be president?  Really?”  It turns out the answer is yes. “It can’t happen, can it?” That question still echoes in my mind.
  • I know all the things that now can’t happen, Clinton’s wars among them. The Trump era looms ahead like a dark mystery, cold and hard.  We may well be witnessing the rebirth of a bitter nation, the fruit of a land poisoned at its root by evils too fundamental to overcome; a country exceptional for its squandered gifts and forsaken providence, its shattered promises and moral squalor. “It can’t happen, can it?” Indeed, my friend, it just did.
Gary Edwards

Arnold Ahlert: Liberty at Risk - The Patriot Post - 1 views

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    "The American Left's desire to crush Liberty and dissent in order to "fundamentally transform the United States of America" has reached metastatic levels. In the last three weeks alone, the following stories have surfaced. All of which indicate we are well on our way toward relinquishing our birthright. Even worse, millions of Americans are apparently more than willing to do so. First, this week the Supreme Court heard arguments in the United States v. Texas case that will determine whether a president can unilaterally rewrite immigration law. If SCOTUS rules in Barack Obama's favor, the separation of powers outlined in the first three articles of the Constitution will be rendered moot and, as political analyst Charles Krauthammer wryly observed, "you can send Congress home." And the Left is not content to stop there. A coalition of 118 cities and counties have filed a legal brief asserting they will lose up to $800 million in economic benefits if large numbers of illegal aliens remain subject to deportation. Second, the IRS has admitted it abides the use of fraudulent Social Security numbers used by illegal aliens to process tax payments - and refunds. Third, in New York and California, Democratic attorneys general Eric Schneiderman and Kamala Harris are pursuing fraud investigations against Exxon, based on the premise they can "prosecute persons and institutions with nonconforming views on global warming," writes National Review's Kevin Williams. "Prosecuting political institutions and businesses for political activism is brown-shirt business." Fourth, the Obama administration, already under fire for its determination to flood America with Syrian "refugees," announced it will reduce its vetting process to three months, instead of 18-24 months. They claim the reduced time is necessary to handle a sped-up "surge operation" whose population is 99% Sunni Muslim. Even more insulting, Gina Kassem, the regional refugee coordinator at t
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    I'll leave well enough alone on Mr. Ahert's positions regarding the U.S. v. Texas case and IRS reliance on fraudulent Social Security numbers; I have not studied those issues. But Mr. Ahert has not done his homework on the Exxon investigations and on the law governing the Syrian refugee situation. Re Exxon, the criminal investigations are to determine whether Exxon committed fraud against *investors* by concealing its knowledge of climate change the company was contributing to --- and knew of decades ago. We don't yet know the outcome of those investigations, but this is a far cry from prosecuting "persons and institutions with nonconforming views on global warming." If pursued, it will be a prosecution of a company -- and conceivably its managers -- who damned well knew through in-house scientific studies it sponsored that global warming was man-made and that their own company was a major causative agent. On the Syrian refugee situation, the right of war refugees to refuge in the U.S. and all other nations is, under the U.S. Constitution's Treaty Clause, "the law of this land." There is nothing in that body of international law created by treaty that permits the U.S. or any other nation to delay providing refuge for purposes of vetting refugees for possible terrorists among them. Vetting can, however, proceed lawfully after refugees are admitted while being held in refugee camps. One need only ask how one would feel were the tables turned and it was yourself fleeing from U.S. violence? Would you want to be forced to linger in the war zone while your anti-terrorism bona fides were established over a period of months? Refuge must be granted when it is needed, not months or years later, regardless of how much "terrorist" hysteria our mainstream media and the military-industrial complex drums up to fan the flames of war and industry profits. And this is all the more a moral case because it is the U.S. and its allies' illegal proxy war in Syria that is creating
Paul Merrell

Support for Palestine surges in Australia -- poll | The Electronic Intifada - 0 views

  • A new poll finds that 55 percent of Australians see boycotting Israeli goods and services as a reasonable way to apply pressure in support of Palestinians rights. That is up from just 31 percent who expressed support for the boycott of Israel in 2014. In the same period, the number who said they would not support a boycott of Israel fell from 47 percent to just 25 percent. One in five remains undecided. Overall, 34 percent of Australians said they sympathize more with the Palestinians than with Israel, an increase from the 27 percent who held that view in 2014. Fewer Australians (26 percent) said they sympathize more with Israelis than with Palestinians.
  • y a large margin, Australians oppose Israel’s construction of settlements on occupied Palestinian land: 61 percent are against the settlements, while 17 percent support them. More than half of respondents disapprove of the Australian government’s rejection of UN Security Council Resolution 2334, adopted in December to demand Israel stop settlement activities, which are illegal under international law.
  • A general measure of sympathy for the Palestinian cause is the number of Australians who say their country should recognize Palestine as a state. That is now up to 73 percent, from 62 percent in 2011, according to the survey. Just eight percent oppose such recognition.
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    It's about time for another similar poll in the U.S. (They seem to come around about yearly.) I suspect that will show a similar shift.
Gary Edwards

Next Leg Of The Ponzi Revealed - Foreign Central Banks To Begin Buying US Stocks Outrig... - 0 views

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    Another great chart detailing the Feds destruction of our currency.  Is this money laundering or a giant ponzi scheme? The good news is that the stock market is on a tear.  The bad news?  International banksters are gobbling up US corporate stocks with the Trillions of freshly printed dollars our Federal Reserve Cartel was kind enough to provide.   Recall that the July 2010 GAO audit of the Federal Reserve Banksters revealed an eye-popping $16.1 Trillion dollars had been distributed to domestic and international banksters between December 2007 and January 2010.   Where did the money go?  How do those dollars make their way back into the world economy?  And what will happen to the value of the dollar when these vast sums do show up in world financial markets? The banksters are not lending.  And companies are not borrowing.  The Trillions flooding the worlds banksters was originally thought to provide liquidity and keep the economy churning.  While there are many competing answers to the question of why this massive bailout and reboot didn't work, were now witnessing the wholesale purchase of corporate ownership with those dollars.   "Don't want to borrow those Trillions?  Good.  We'll buy you then." Sorry, but this looks like a gigantic money laundering scheme where hot dollars are dumped off in exchange for real assets. excerpt:  In other words, while the Fed's charter forbids it from buying US equities outright, it certainly can promise that it will bail out such bosom friends as the Bank of Israel, the Swiss National Bank, and soon everyone else, if and when their investment in Apple should sour. Luckily, this means that the exponential phase in risk is approaching as everyone will now scramble to frontrun central bank purchases no longer in bonds, but in stocks outright, leading to epic surges in everything risk related, then collapse and force the Fed to print tens of trillions to bail everyone out all over again, rinse repea
Paul Merrell

Iraq joins Iran in opposing U.S.-led military strike in Syria - The Washington Post - 0 views

  • Iran won Iraqi support for its efforts to oppose a U.S.-led military strike on Syria during a visit to Baghdad on Sunday by the new Iranian foreign minister, highlighting how close the two countries have grown since U.S. forces withdrew in 2011. Speaking during his first visit abroad since he was appointed last month, Iranian Foreign Minister Mohammad Javed Zarif warned that U.S. intervention in Syria risks igniting a regionwide war.
  • “Those who are short-sighted and are beating the drums of war are starting a fire that will burn everyone,” Zarif said during a news conference.Standing alongside him, Iraqi Foreign Minister Hoshyar Zebari said all of Syria’s neighbors, including Iraq, would be harmed by American involvement in Syria’s two-year-old conflict. “What I can say conclusively is that Iraq will not be a base for any attack, nor will it facilitate any such attack on Syria,” Zebari told reporters after holding talks with Zarif.
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    This would be funny if the consequences of war were not so horrible. Viewing the situation through a very big telescope from Mars, we begin with the Neocons and Zionist Israelis hijacking the U.S. military to invade and conquer Iraq, and thereby break the OPEC oil monopoly by pumping more oil from Iraq and selling  oil cheap on the market. But Big Oil, recognizing the threat to its profits if oil supply is increased and the prices depressed, hires James Baker, chief of White House staff under Reagan and Bush I. Baker has a short meeting with Bush Jr. and the Neocon/Zionist Israeli dream of breaking OPEC and restoring cheap oil is abruptly terminated. The Iraq War is no longer about changes in the oil supply and prices. But  the Neocons in the Bush II administration are stuck with the war they started. They waffle and delay, with the theater of Saddam Hussein's capature and execution, until Barack Obama comes into office, push for a "surge" to save the war effort, then when that fails reluctantly collaborate in U.S. withdrawal from Iraq. Their efforts to maintain a covert military presence hiding under the cover of the world's largest U.S. Embassy comes to a screeching halt when the new Iraqi government they had installed refuses to immunize U.S. soldiers and citizens from criminal prosecution. The U.S. exits Iraq. Now the Iraq government that the Neocon/Israeli Zionists installed aligns itself with Iraq and Syria against the U.S. military strikes on Syria that Israel wants. Iraq and Syria had been the two major remaining obstacles to Israeli hegemony and empire in the Mideast.   Then the Neocons/Israeli Zionists changed Iraq from a secular state to a Shia Muslim state with a for-all-pracitical-purposes-independent Kurdish state in the north. Now suddenly, those two major obstacles become three, as Iraq moves farther from the U.S. and closer toward Shia Iran and secular Syria, because of a sequence of events the Neocon/Israeli Zionists had set in motion ag
Paul Merrell

FindLaw | Cases and Codes - 0 views

  • SMITH v. MARYLAND, 442 U.S. 735 (1979)
  • The telephone company, at police request, installed at its central offices a pen register to record the numbers dialed from the telephone at petitioner's home. Prior to his robbery trial, petitioner moved to suppress "all fruits derived from" the pen register. The Maryland trial court denied this motion, holding that the warrantless installation of the pen register did not violate the Fourth Amendment. Petitioner was convicted, and the Maryland Court of Appeals affirmed. Held: The installation and use of the pen register was not a "search" within the meaning of the Fourth Amendment, and hence no warrant was required. Pp. 739-746. (a) Application of the Fourth Amendment depends on whether the person invoking its protection can claim a "legitimate expectation of privacy" that has been invaded by government action. This inquiry normally embraces two questions: first, whether the individual has exhibited an actual (subjective) expectation of privacy; and second, whether his expectation is one that society is prepared to recognize as "reasonable." Katz v. United States, 389 U.S. 347 . Pp. 739-741.
  • (b) Petitioner in all probability entertained no actual expectation of privacy in the phone numbers he dialed, and even if he did, his expectation was not "legitimate." First, it is doubtful that telephone users in general have any expectation of privacy regarding the numbers they dial, since they typically know that they must convey phone numbers to the telephone company and that the company has facilities for recording this information and does in fact record it for various legitimate business purposes. And petitioner did not demonstrate an expectation of privacy merely by using his home phone rather than some other phone, since his conduct, although perhaps calculated to keep the contents of his conversation private, was not calculated to preserve the privacy of the number he dialed. Second, even if petitioner did harbor some subjective expectation of privacy, this expectation was not one that society is prepared to recognize as "reasonable." When petitioner voluntarily conveyed numerical information to the phone company and "exposed" that information to its equipment in the normal course of business, he assumed the risk that the company would reveal the information [442 U.S. 735, 736]   to the police, cf. United States v. Miller, 425 U.S. 435 . Pp. 741-746. 283 Md. 156, 389 A. 2d 858, affirmed.
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    The Washington Post has reported that "on July 15 [2001], the secret surveillance court allowed the NSA to resume bulk collection under the court's own authority. The opinion, which remains highly classified, was based on a provision of electronic surveillance law, known as "pen register, trap and trace," that was written to allow law enforcement officers to obtain the phone numbers of incoming and outgoing calls from a single telephone line." .  The seminal case on pen registers is the Supreme Court's 1979 Smith v. Maryland decision, bookmarked here and the Clerk's syllabus highlighted, with the Court's discussion on the same web page. We will be hearing a lot about this case decision in the weeks and months to come.  Let it suffice for now to record a few points of what my antenna are telling me:  -- Both technology and the law have moved on since then. We are 34 years down the line from the Smith decision. Its pronouncements have been sliced and diced by subsequent decisions. Not a single Justice who sat on the Smith case is still on the High Bench.   -- In Smith, a single pen register was used to obtain calling information from a single telephone number by law enforcement officials. In the present circumstance, we face an Orwellian situation of a secret intelligence agency with no law enforcement authority forbidden by law from conducting domestic surveillance perusing and all digital communications of the entire citizenry. -- The NSA has been gathering not only information analogous to pen register results but also the communications of American citizens themselves. The communications themselves --- the contents --- are subject to the 4th Amendment warrant requirement. Consider the circuitous route of the records ordered to be disclosed in the Verizon FISA order. Verizon was ordered to disclose them to the FBI, not to the NSA. But then the FBI apparently forwards the records to the NSA, who has both the "pen register
Gary Edwards

The Netanyahu-Obama Meeting in Strategic Context | STRATFOR - 0 views

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    Israeli Prime Minister Benjamin Netanyahu is scheduled to meet with U.S. Resident Village Idiot, and World renown Marxist, President Barack Obama on March 23. The meeting follows the explosion in U.S.-Israeli relations after Israel announced it was licensing construction of homes in East Jerusalem while U.S. Vice President Joe Biden was in Israel. The United States wants Israel to stop all construction of new Jewish settlements. The Israelis argue that East Jerusalem is not part of the occupied territories, and hence, the U.S. demand doesn't apply there. The Americans are not parsing their demand so finely and regard the announcement - timed as it was - as a direct affront and challenge. Israel's response is that it is a sovereign state and so must be permitted to do as it wishes. The implicit American response is that the United States is also a sovereign state and will respond as it wishes...... Stratfor analyst George Friedman explains, in geopolitical terms, the tensions between Israel and a Socialist America.  Good history lesson.  For instance, american support for Israel didn't commence until 1967, when someone had to replace France and Britain.  Interestingly, in 1956, when Britain and France seized the previously nationalized Suez Canal during another Israel triumph against it's Arab enemies, Eisenhower forced Britain and Franc to return the canal to Egypt!    Yet, anti American sentiment surged throughout the middle east.
Gary Edwards

The Imminent $2.5 Trillion Debt Ceiling Hike Will Unleash A Gold Price Surge To $1,950 ... - 0 views

  •  
    Tyler Durden does the numbers and presents us with a jaw dropping chart.  Simply put; $2.5 Trillion in new debt ceiling equals $2.5 Trillion in newly printed dollars.  And Gold will go up exactly in lock step with the rising debt ceiling. excerpt: Two weeks ago we presented a chart that shows the uncanny correlation between the debt ceiling and the price of gold. Now that we know the final amount of the next debt ceiling hike, somewhere in the $2.5 trillion ballpark, it allows us to extrapolate where gold will end up as a result of the debt ceiling hike which will likely be voted into law at 7pm PDT. A simple correlation rule of thumb allows us to predict that gold will be at $1,950 by the end of the year if it simply retains it close correlation to the debt ceiling. Should Bernanke announce that he will additionally need to monetize some or all of this incremental debt amount, we anticipate that gold will be well over $2,000 by the end of the year, courtesy of yet another round of accelerated dollar debasement, which also means that real gains in US stocks will be negated courtesy of the devaluation of the currency in which they are priced. The same, however, does not apply for gold, which with every passing day is priced in nothing but itself.
Gary Edwards

About Americans for Prosperity | Americans for Prosperity - 0 views

  •  
    AFP is an excellent branch of the American Tea Party Movement.  The Grassroots tools are very good, and the group leadership effective, trustworthy and patriotic.  "The Great One", Mark Levin is a founder of AFP and remains very involved with the day to day operation.  Although i'm a contributing member, one of the things i most appreciate about AFP is that when they launch a contact/letter surge, unlike many other "grassroots" operations, there is no charge for the contact.  AFP is an easy and affordable way to contact those who took an oath to represent us and defend our Constitution.  Good group! excerpt: Americans for Prosperity™ (AFP) and Americans for Prosperity Foundation (AFP Foundation) are committed to educating citizens about economic policy and mobilizing those citizens as advocates in the public policy process. AFP is an organization of grassroots leaders who engage citizens in the name of limited government and free markets on the local, state, and federal levels. The grassroots activists of AFP advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint. AFP Foundation is committed to educating citizens about economic policy and a return of the federal government to its Constitutional limits. AFP Foundation's educational programs and analyses help policymakers, the media, and individual citizens understand why policies that promote the American enterprise system are the best way to ensure prosperity for all Americans. To that end, AFP and AFP Foundation support: Cutting taxes and government spending in order to halt the encroachment of government in the economic lives of citizens by fighting proposed tax increases and pointing out evidence of waste, fraud, and abuse. Tax and Expenditure Limitations to promote fiscal responsibility. Removing unnecessary barriers to entrepreneurship and opportunity by sparking citizen involvement in the regulatory process early on in order to reduce red tap
Paul Merrell

Merkel doesn't oppose Greece leaving Eurozone: Syriza surges to 30.4 % in Poll for Janu... - 0 views

  • German Chancellor Angela Merkel doesn’t oppose Greece leaving the eurozone. Talks about the possibility of Greece leaving the eurozone have gained renewed urgency after 30.4 % of polled Greeks said they would vote for Syriza, suggesting a chance that the left-wing party that runs on a platform of renegotiating bailout terms and national sovereignty as well as social justice could win the Greek snap parliamentary elections on January 25.
  • German Chancellor Angela Merkel said, according to the German magazine Der Spiegel, that Germany wouldn’t oppose a Greek exit from the eurozone if the people of Greece voted a party to power that opposes the current austerity measures in the country which came as conditionalities along with a EU and IMF bailout. Both Chancellor Merkel as well as German Finance Minister Wolfgang Schäuble reportedly believe that such a decision and development would be bearable for Germany as well as for the other eurozone member States. The Chancellor and the Finance Minister were cited as referring to progress made in the eurozone since 2012.
  • EUropean shares and bonds dropped last week after the Greek parliament rejected the current Prime Minister Antonius Samaras’ presidential candidate and set the country on a course towards snap parliamentary elections on January 25. A recent poll showed that the governing PASOK and New Democracy coalition had suffered substantial losses in popular support after they agreed to the EU/IMF bailout and associated conditions that have driven a large percentage of the middle class into abject poverty. Another issue that is hotly debated among Greeks is the loss of sovereignty over the county’s economic and fiscal policy, and domestic affairs, including social policies.
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  • The support for Syriza is by many analysts seen as a clear popular mandate for Syriza and against the austerity measures which have driven impoverished previous members of the middle class to illegally cut down trees for firewood to survive the winter. Many analysts also interpret the results of the recent polls as a clear message to Prime Minister George Papandreou who ruled the country since 2009 and to and PASOK as well as to New Democracy, that “enough is enough”. When UK Prime Minister David Cameron, in 2014, signaled that the UK could leave the EU all together, the majority of polled French said “let them go”. As for Germany and France, a slimmer, more streamlined EU could indeed strengthen a growing continental European consensus against a UK/US economic, political and military hegemony which the Atlantic Axis tries to enforce in Europe. Some analysts say that a Greek departure from the eurozone could be positive for both the EU and for Greece, while a British departure from the EU could put Europe on less hostile course towards Russia and a consolidation of ties between the EU and Russia.
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    Be sure to take your pitchfork along if you're traveling to Greece in the near future. Barbecued bankster is on the menu. Don't forget that Russia is waiting in the wings, with Turkey agreed to supply the Turkey-Greece natural gas pripeline with Russian natural gas. So the E.U. can pay Greece and Turkey pass-through revenues if the EU wants any of that gas. 
Paul Merrell

Oil surges 8 percent as U.S. rig count plunges, shorts scramble - Yahoo Finance - 0 views

  • EW YORK (Reuters) - Oil prices roared back from six-year lows on Friday, rocketing more than 8 percent as a record weekly decline in U.S. oil drilling fueled a frenzy of short-covering. In a rally that may spur speculation that a seven-month price collapse has ended, global benchmark Brent crude shot up to more than $53 per barrel, its highest in more than three weeks in its biggest one-day gain since 2009. The late-session surge was primed by Baker Hughes data showing the number of rigs drilling for oil in the United States fell by 94 - or 7 percent - this week. Earlier gains were fueled by reports of Islamic State militants striking at Kurdish forces southwest of the oil-rich city of Kirkuk.
  • Poised for a bounce many thought was overdue, short traders raced to cover their positions on fears that the rout, sparked by massive U.S. shale crude supplies, was nearing its end. "The rig count drop was a lot more than people expected and it really got the market going," said Phil Flynn, analyst at Price Futures Group in Chicago. According to Baker Hughes, the decline in oil drilling rigs was the most since it began keeping records in 1987. With drillers having idled about 24 percent of their oil drilling rigs since the summer, some traders may be betting that an anticipated slowdown in U.S. oil production is nearer than expected.
  • Some are not convinced that the sell-off in oil is over. The rout began in June when Brent peaked at over $115 a barrel and accelerated in November after OPEC refused to cut its production. "There was a lot of short-covering before the month end from people wanting to take profit from the $40-odd lows, so it's not surprising that we rallied," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow in New York. But it will take a while for production to respond to lower drilling. "This doesn't change the fundamental outlook in oil. We are still about 2 million barrels oversupplied." Production from OPEC, or the Organization of the Petroleum Exporting Countries, rose in January to 30.37 million barrels per day (bpd), a Reuters poll showed, a sign that key members of the group were resolute about defending their market share. A Reuters poll shows oil prices may post only a mild recovery in the second half of the year, with prices still averaging less in 2015 than during the global financial crisis. (OILPOLL) Joseph Posillico, senior vice president of energy futures at Jefferies in New York, also warned of a short-term, short-covering rally that could be quickly reversed. "This is just the market being the market and we could give these all back in the next few sessions."
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    More indication that the economic oil bubble is bursting. 
Paul Merrell

The Collapse of Europe? « LobeLog - 0 views

  • And yet, for all this success, the European project is currently teetering on the edge of failure. Growth is anemic at best and socio-economic inequality is on the rise. The countries of Eastern and Central Europe, even relatively successful Poland, have failed to bridge the income gap with the richer half of the continent. And the highly indebted periphery is in revolt. Politically, the center may not hold and things seem to be falling apart. From the left, parties like Syriza in Greece are challenging the EU’s prescriptions of austerity. From the right, Euroskeptic parties are taking aim at the entire quasi-federal model. Racism and xenophobia are gaining ever more adherents, even in previously placid regions like Scandinavia. Perhaps the primary social challenge facing Europe at the moment, however, is the surging popularity of Islamophobia, the latest “socialism of fools.” From the killings at the Munich Olympics in 1972 to the recent attacks at Charlie Hebdo and a kosher supermarket in Paris, wars in the Middle East have long inspired proxy battles in Europe. Today, however, the continent finds itself ever more divided between a handful of would-be combatants who claim the mantle of true Islam and an ever-growing contingent who believe Islam — all of Islam — has no place in Europe.
  • Europeans are beginning to realize that Margaret Thatcher was wrong and there are alternatives — to liberalism and European integration. The most notorious example of this new illiberalism is Hungary. On July 26, 2014, in a speech to his party faithful, Prime Minister Viktor Orban confided that he intended a thorough reorganization of the country. The reform model Orban had in mind, however, had nothing to do with the United States, Britain, or France. Rather, he aspired to create what he bluntly called an “illiberal state” in the very heart of Europe, one strong on Christian values and light on the libertine ways of the West. More precisely, what he wanted was to turn Hungary into a mini-Russia or mini-China. “Societies founded upon the principle of the liberal way,” Orban intoned, “will not be able to sustain their world-competitiveness in the following years, and more likely they will suffer a setback, unless they will be able to substantially reform themselves.” He was also eager to reorient to the east, relying ever less on Brussels and ever more on potentially lucrative markets in and investments from Russia, China, and the Middle East.
  • For some, the relationship between Hungary and the rest of Europe is reminiscent of the moment in the 1960s when Albania fled the Soviet bloc and, in an act of transcontinental audacity, aligned itself with Communist China. But Albania was then a marginal player and China still a poor peasant country. Hungary is an important EU member and China’s illiberal development model, which has vaulted it to the top of the global economy, now has increasing international influence. This, in other words, is no Albanian mouse that roared. A new illiberal axis connecting Budapest to Beijing and Moscow would have far-reaching implications.
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  • That July speech represented a truly Oedipal moment, for Orban was eager to drive a stake right through the heart of the ideology that had fathered him. As a young man more than 25 years earlier, he had led the Alliance of Young Democrats — Fidesz — one of the region’s most promising liberal parties. In the intervening years, sensing political opportunity elsewhere on the political spectrum, he had guided Fidesz out of the Liberal International and into the European People’s Party, alongside German Chancellor Angela Merkel’s Christian Democrats. Now, however, he was on the move again and his new role model wasn’t Merkel, but Russian President Vladimir Putin and his iron-fisted style of politics. Given the disappointing performance of liberal economic reforms and the stinginess of the EU, it was hardly surprising that Orban had decided to hedge his bets by looking east. The European Union has responded by harshly criticizing Orban’s government for pushing through a raft of constitutional changes that restrict the media and compromise the independence of the judiciary. Racism and xenophobia are on the uptick in Hungary, particularly anti-Roma sentiment and anti-Semitism. And the state has taken steps to reassert control over the economy and impose controls on foreign investment.
  • The Hungarian prime minister, after all, has many European allies in his Euroskeptical project. Far right parties are climbing in the polls across the continent. With 25% of the votes, Marine Le Pen’s National Front, for instance, topped the French elections for the European parliament last May. In local elections in 2014, it also seized 12 mayoralties, and polls show that Le Pen would win the 2017 presidential race if it were held today. In the wake of the Charlie Hebdo shootings, the National Front has been pushing a range of policies from reinstating the death penalty to closing borders that would deliberately challenge the whole European project. In Denmark, the far-right People’s Party also won the most votes in the European parliamentary elections. In November, it topped opinion polls for the first time. The People’s Party has called for Denmark to slam shut its open-door policy toward refugees and re-introduce border controls. Much as the Green Party did in Germany in the 1970s, groupings like Great Britain’s Independence Party, the Finns Party, and even Sweden’s Democrats are shattering the comfortable conservative-social democratic duopoly that has rotated in power throughout Europe during the Cold War and in its aftermath.
  • The Islamophobia that has surged in the wake of the murders in France provides an even more potent arrow in the quiver of these parties as they take on the mainstream. The sentiment currently expressed against Islam — at rallies, in the media, and in the occasional criminal act — recalls a Europe of long ago, when armed pilgrims set out on a multiple crusades against Muslim powers, when early nation-states mobilized against the Ottoman Empire, and when European unity was forged not out of economic interest or political agreement but as a “civilizational” response to the infidel.
  • Euroskepticism doesn’t only come from the right side of the political spectrum. In Greece, the Syriza party has challenged liberalism from the left, as it leads protests against EU and International Monetary Fund austerity programs that have plunged the population into recession and revolt. As elsewhere in Europe, the far right might have taken advantage of this economic crisis, too, had the government not arrested the Golden Dawn leadership on murder and other charges. In parliamentary elections on Sunday, Syriza won an overwhelming victory, coming only a couple seats short of an absolute majority. In a sign of the ongoing realignment of European politics, that party then formed a new government not with the center-left, but with the right-wing Independent Greeks, which is similarly anti-austerity but also skeptical of the EU and in favor of a crackdown on illegal immigration.
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    Greece and Hungary moving to the right *and toward Russia and China.* The Syrza Party won big in Greece on Sunday. 
Gary Edwards

Global Financial Meltdown Coming? Clear Signs That The Great Derivatives Crisis Has Now... - 0 views

  • No one “understands” derivatives. How many times have readers heard that thought expressed (please round-off to the nearest thousand)? Why does no one understand derivatives? For many; the answer to that question is that they have simply been thinking too hard. For others; the answer is that they don’t “think” at all. Derivatives are bets. This is not a metaphor, or analogy, or generalization. Derivatives are bets. Period. That’s all they ever were. That’s all they ever can be.
  • One very large financial institution that appears to be in serious trouble with these financial weapons of mass destruction is Glencore.  At one time Glencore was considered to be the 10th largest company on the entire planet, but now it appears to be coming apart at the seams, and a great deal of their trouble seems to be tied to derivatives.  The following comes from Zero Hedge… Of particular concern, they said, was Glencore’s use of financial instruments such as derivatives to hedge its trading of physical goods against price swings. The company had $9.8 billion in gross derivatives in June 2015, down from $19 billion in such positions at the end of 2014, causing investors to query the company about the swing. Glencore told investors the number went down so drastically because of changes in market volatility this year, according to people briefed by Glencore. When prices vary significantly, it can increase the value of hedging positions. Last year, there were extreme price moves, particularly in the crude-oil market, which slid from about $114 a barrel in June to less than $60 a barrel by the end of December.
  • That response wasn’t satisfying, said Michael Leithead, a bond fund portfolio manager at EFG Asset Management, which managed $12 billion as of the end of March and has invested in Glencore’s debt.
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  • According to Bank of America, the global financial system has about 100 billion dollars of exposure overall to Glencore.  So if Glencore goes bankrupt that is going to be a major event.  At this point, Glencore is probably the most likely candidate to be “the next Lehman Brothers”. And it isn’t just Glencore that is in trouble.  Other financial giants such as Trafigura are in deep distress as well.  Collectively, the global financial system has approximately half a trillion dollars of exposure to these firms… Worse, since it is not just Glencore that the banks are exposed to but very likely the rest of the commodity trading space, their gross exposure blows up to a simply stunning number:
  • For the banks, of course, Glencore may not be their only exposure in the commodity trading space. We consider that other vehicles such as Trafigura, Vitol and Gunvor may feature on bank balance sheets as well ($100 bn x 4?)
  • Call it half a trillion dollars in very highly levered exposure to commodities: an asset class that has been crushed in the past year. The mainstream media is not talking much about any of this yet, and that is probably a good thing.  But behind the scenes, unprecedented moves are already taking place. When I came across the information that I am about to share with you, I was absolutely stunned.  It comes from Investment Research Dynamics, and it shows very clearly that everything is not “okay” in the financial world… Something occurred in the banking system in September that required a massive reverse repo operation in order to force the largest ever Treasury collateral injection into the repo market.   Ordinarily the Fed might engage in routine reverse repos as a means of managing the Fed funds rate.   However, as you can see from the graph below, there have been sudden spikes up in the amount of reverse repos that tend to correspond the some kind of crisis – the obvious one being the de facto collapse of the financial system in 2008:
  • What in the world could possibly cause a spike of that magnitude? Well, that same article that I just quoted links the troubles at Glencore with this unprecedented intervention… What’s even more interesting is that the spike-up in reverse repos occurred at the same time – September 16 – that the stock market embarked on an 8-day cliff dive, with the S&P 500 falling 6% in that time period.  You’ll note that this is around the same time that a crash in Glencore stock and bonds began.   It has been suggested by analysts that a default on Glencore credit derivatives either by Glencore or by financial entities using derivatives to bet against that event would be analogous to the “Lehman moment” that triggered the 2008 collapse. The blame on the general stock market plunge was cast on the Fed’s inability to raise interest rates.  However that seems to be nothing more than a clever cover story for something much more catastrophic which began to develop out sight in the general liquidity functions of the global banking system. Back in 2008, Lehman Brothers was not “perfectly fine” one day and then suddenly collapsed the next.  There were problems brewing under the surface well in advance. Well, the same thing is happening now at banking giants such as Deutsche Bank, and at commodity trading firms such as Glencore, Trafigura and The Noble Group. And of course a lot of smaller fish are starting to implode as well.  I found this example posted on Business Insider earlier today…
  • On September 11, Spruce Alpha, a small hedge fund which is part of a bigger investment group, sent a short report to investors. The letter said that the $80 million fund had lost 48% in a month, according the performance report seen by Business Insider. There was no commentary included in the note. No explanation. Just cold hard numbers.
  • Wow – how do you possibly lose 48 percent in a single month? It would be hard to do that even if you were actually trying to lose money on purpose. Sadly, this kind of scenario is going to be repeated over and over as we get even deeper into this crisis. Meanwhile, our “leaders” continue to tell us that there is nothing to worry about.  For example, just consider what former Fed Chairman Ben Bernanke is saying…
  • Former Federal Reserve chairman Ben Bernanke doesn’t see any bubbles forming in global markets right right now. But he doesn’t think you should take his word for it. And even if you did, that isn’t the right question to ask anyway. Speaking at a Wall Street Journal event on Wednesday morning, Bernanke said, “I don’t see any obvious major mispricings. Nothing that looks like the housing bubble before the crisis, for example. But you shouldn’t trust me.”
  • I certainly agree with that last sentence.  Bernanke was the one telling us that there was not going to be a recession back in 2008 even after one had already started.  He was clueless back then and he is clueless today. Most of our “leaders” either don’t understand what is happening or they are not willing to tell us. So that means that we have to try to figure things out for ourselves the best that we can.  And right now there are signs all around us that another 2008-style crisis has begun. Personally, I am hoping that there will be a lot more days like today when the markets were relatively quiet and not much major news happened around the world. Unfortunately for all of us, these days of relative peace and tranquility are about to come to a very abrupt end.
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    "Warren Buffett once referred to derivatives as "financial weapons of mass destruction", and it was inevitable that they would begin to wreak havoc on our financial system at some point.  While things may seem somewhat calm on Wall Street at the moment, the truth is that a great deal of trouble is bubbling just under the surface.  As you will see below, something happened in mid-September that required an unprecedented 405 billion dollar surge of Treasury collateral into the repo market.  I know - that sounds very complicated, so I will try to break it down more simply for you.  It appears that some very large institutions have started to get into a significant amount of trouble because of all the reckless betting that they have been doing.  This is something that I have warned would happen over and over again.  In fact, I have written about it so much that my regular readers are probably sick of hearing about it.  But this is what is going to cause the meltdown of our financial system. Many out there get upset when I compare derivatives trading to gambling, and perhaps it would be more accurate to describe most derivatives as a form of insurance.  The big financial institutions assure us that they have passed off most of the risk on these contracts to others and so there is no reason to worry according to them. Well, personally I don't buy their explanations, and a lot of others don't either.  On a very basic, primitive level, derivatives trading is gambling.  This is a point that Jeff Nielson made very eloquently in a piece that he recently published…"
Gary Edwards

The Business Offensive: A Symmetrical Ruling Class - 0 views

  • Since the close of World War II, America has sought an integrated policy as the militarization of capitalism
  • In the intervening years, this was not always easy to achieve, as, depending on circumstances, one or the other, the corporate-financial order, and the military itself, asserted itself and made strong demands on government.
  • the Cold War itself providing a cover for the US globalization of power via market penetration, international financial and monetary architecture under US supervision, and the steady build-up of an Armaments State.
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  • Yet, the dynamism of early modern capitalism, realized in part through grinding methods of labor suppression, notably, the privatization of force, helped on by a compliant government, meant that within capitalism itself there was tremendous jockeying for power requiring the imposition of Order if major railroads and industrial firms were to enjoy their secure monopoly status.
  • Here government was crucial to harmonious internal structural arrangements, anticompetitive in its policies for the promotion of monopolism sector-by-sector including banking (the House of Morgan, whose offshoots firmed up the organization of railroads and manufacturing) as the means to systemic consolidation—an end to internecine competition—which was achieved in the early 20th century under Theodore Roosevelt and Woodrow Wilson (themselves the Janus-faced construct of the Battleship Navy and supposed liberal internationalism) setting the stage for the present era.
  • In practice, we see the interpenetration of business and government as the integration of monopoly capitalism in its own right.
  • By the late 1940s one can say that the military remained a junior partner of a synthesized ruling group or class, given the overwhelming thrust of business and its ascendant banking wing in defining American capitalism.
  • American capitalism could no longer go it alone, the military increasingly supplying the muscle for continued expansion and profitability. Korea and Vietnam were important chapters in the reshaping of a capitalist polity, with numerous interventions beyond mention the underpinning for a coalescent framework of elites, all making for a structural process of shaking down to the bare essentials the capitalist and military components in search of equilibrium. For otherwise, America feared its decline and would do anything to prevent.
  • Granted, it is hard to conceive of capitalism as a perpetual war machine, especially in America, which labors under the fiction of being, or if it ever was, then remaining, a democracy.
  • But there it is, an arms budget dwarfing all else, military bases strategically gathered worldwide, death squads euphemistically termed Special Ops, presidential-directed drone assassinations, the list goes on—so much so that one almost forgets capitalism is centrally about business and profits, not murder and mayhem.
  • the Great Capitalist Synthesis
  • an accomplice to the more successful militarization of capitalism by holding its own as an integral part in the relationship. In sum, the desideratum of business as usual, as in fleecing the consumer and jeopardizing his/her safety, destroying the environment, and best of all, removing itself from the constitutional foundations of the rule of law.
  • Corporations and banks have become a law unto themselves, with all the organs of government stretching from the Executive, Congress, the Supreme Court, to myriad regulatory agencies some unbeknownst to the public, sitting as a chorus of admiring voices egging them on.
  • Corporate Rescindment of Legal Rights: Business Power Run Amuck,
  • Class-action law suits, frequently the only feasible action of the poor for seeking redress of grievances against the giant corporations, are all but prohibited, replaced in contracts by compulsory-arbitration clauses, intended in the first place to kill class actions, which compel the individual standing alone to face insurmountable odds in a process by which the corporation names the arbitrator, keeps the proceedings secret, and determines the rules of procedure.
  • Civil courts are thrown to the winds.
  • It is as though capitalism, in this one seemingly minor area touching primarily the normalization of everyday relationships, has gone on the offensive, not of course to re-establish its relation to the military, but specifically and directly to exercise its domination over the people.
  • The now-and-future business polity is the fulfillment of the fascist dream, an authoritarian power structure of corporate consolidation supported through governmental suppression of dissent at home and an aggressively waged foreign policy to capture world markets.
  • The small print of the contracts one signs, whether for car rentals or nursing homes, and thousands of transactions in between, emboldens capitalism to go its solipsistic way, to the destruction of freedom, the planet, and human dignity.
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    "Since the close of World War II, America has sought an integrated policy as the militarization of capitalism. In the intervening years, this was not always easy to achieve, as, depending on circumstances, one or the other, the corporate-financial order, and the military itself, asserted itself and made strong demands on government. The result was never an intracompetitive mold because each needed and recognized the value of the other, but still there were periods of imbalance in their respective surges of governmental policy-emphasis. American capitalism had become a functional duopoly (C. Wright Mills' Power Elite was a good popular discussion of this general structure at an earlier point in our capitalist-development trajectory after the war), the Cold War itself providing a cover for the US globalization of power via market penetration, international financial and monetary architecture under US supervision, and the steady build-up of an Armaments State. There is nothing actually new here about the American historical pattern, except of course the more explicit and pronounced role to be assigned the military in the stabilization and expansion of American capitalism. The military was never at any point following the Civil War a negligible input in synthesizing the materials for an operational ruling class, but essentially, as in the late-19th century policy of the Open Door, business was sufficiently confident of its own power (the "imperialism of free trade") to carry forward the process of expansion largely on its own. Yet, the dynamism of early modern capitalism, realized in part through grinding methods of labor suppression, notably, the privatization of force, helped on by a compliant government, meant that within capitalism itself there was tremendous jockeying for power requiring the imposition of Order if major railroads and industrial firms were to enjoy their secure monopoly status."
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