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Gary Edwards

Gonzalo Lira: Why Democracies Will Always Go Bankrupt - 1 views

  • once a democracy’s debt reaches a point of unsustainability—either because it cannot borrow more, or it cannot service the debt it already has—the democracy becomes bankrupt.
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    It's an overall concept I've designated as the Democratic Bankruptcy Paradox: The paradox by which every democracy eventually goes bankrupt-regardless of the people's will and intention of keeping it from going bankrupt. That's why it's a paradox: The citizens of a democratic state are supposed to control its destiny. They obviously do not want their nation to suffer bankruptcy-yet in spite of their will and intent, democratic states always go bankrupt. Always. This post will outline my proof of why this is so. I will first explain the logic of my Democratic Bankruptcy Paradox theory, and how it is derived from a rather recently articulated problem in philosophy called the discursive dilemma, or sometimes the doctrinal dilemma; an aspect of group agency that has been used primarily in legal theory, but which I've realized has some fairly interesting-and radical-applications to macro-economics and public finance in representative democracies. I will then explain how the discursive dilemma, when applied to macro-economics and fiscal policy in a democratic regime, leads to the Democratic Bankruptcy Paradox. It is here that I will prove two general conclusions: * One: Democracies always act in a fiscally incoherent manner. * Two: Democracies always go bankrupt-without exception.  Finally, I will show how my Democratic Bankruptcy Paradox theory applies to the American case, and explain why the U.S. governments at the local, State and Federal level spend more than they bring in-even as their citizens uniformly oppose this state of affairs.
Gary Edwards

Reason Foundation - Out of Control Policy Blog - 0 views

shared by Gary Edwards on 28 Oct 11 - No Cached
  • A large-scale MBS purchase program has many of the benefits associated with purchases of longer-duration Treasury securities, such as inducing investors to shift to other assets, including bonds and equities. But it could also have more direct effects on the housing market. By increasing demand for MBS, such a program should reduce the effective yield on those MBS, which in turn should put downward pressure on mortgage rates. The aggregate demand effect should be felt not just in new home purchases, but also in the added purchasing power of existing homeowners who are able to refinance. Indeed, homeowners who refinance get the equivalent of a permanent tax cut. Concerns about central banks making sectoral credit allocation decisions are understandable in general. But here we are talking about a widely traded instrument in a sector that appears, now more than ever, to be central to the slow pace of recovery.
    • Gary Edwards
       
      Federal Reserve Bankster Tarullo makes an interesting point here.  He's connecting a Federal Reserve buy back of mortgage securities to the Federal Reserve purchasing of long term Treasury securities.  
  • This whole policy argument hinges on a belief that lower mortgage rates will solve the problem
  • Where I disagree with Tarullo is that there are not very many potential homebuyers out there right now just waiting until mortgages rates go from 4 percent to 3 percent. Nor is the mortgage rate what is holding back refinances (it is much more related to negative equity, refi costs, and bank backlogs). So of none of that happens, you don't get the aggregate demand impact.
Paul Merrell

Al Jazeera once again removes Joseph Massad article on Palestine | The Electronic Intifada - 0 views

  • Al Jazeera English has once again removed an article by Columbia University professor Joseph Massad hours after publishing it. The article, “The Dahlan Factor,” appeared for several hours on the Qatar-based broadcaster’s website this morning at this link, but was later removed without explanation (the full article is republished below). The article had been extremely popular, appearing in the fifth spot on the website’s “What’s Hot” section.
  • Massad’s article: The Dahlan factor The Israeli and US betting on the Dahlan horse will only increase the resolve of the Palestinians and their supporters
  • The recent resurrection of Mohammad Dahlanby several Arab governments, Israel and the US is a most important development for the future of the Palestinian cause, Palestinian Authority (PA)-Israel negotiations, and Hamas-ruled Gaza. Dahlan is viewed, by many Palestinians, as the most corrupt official in the history of the Palestinian national movement (and there are many contenders for that title). Dahlan, it would be recalled, was the PA man in charge of Gaza after the Oslo Accords were signed, where he commanded 20,000 Palestinian security personnel who were answerable to the CIA and to Israeli intelligence. His forces would torture Hamas members in PA dungeons throughout the 1990s. His corruption, at the time, was such that he allegedly diverted over 40 percent of taxes levied against the Palestinians to his personal account in what became known as the Karni Crossing Scandal in 1997. Dahlan, who has been accused repeatedly by both Hamas and Fatah of being an agent of US, Israeli, Egyptian, and Jordanian intelligence, would attempt to stage a US-organised coup against the democratically elected Hamas government in 2007 in Gaza, an attempt that backfired on him and ended with his eviction from the Strip (I had forewarned about the coup several months before it occurred).
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  • A simultaneous coup led by Abbas and his Israeli- and US-backed security forces in the West Bank was successful in dislodging the elected Hamas from power. Dahlan retreated to that mainstay of US and Israeli power, namely the PA-controlled West Bank, where he began to hatch new plots with his multiple patrons to undermine not only Hamas but also Abbas, whose position he begrudged and coveted. Indeed the Americans and the European Union (the latter on US orders) began to pressure Abbas to appoint Dahlan as his deputy, making it clear that they would like to see Dahlan succeed Abbas. Abbas resisted the pressure and refused. In the meantime, Dahlan, has been accused by Hamas and the PA of allegedly plotting several assassination attempts that targeted several Palestinian officials, including Hamas Prime Minister Ismail Haniyyah and Fatah ministers in the PA. Accusations that he persistently denied. His involvement in the 2010 Mossad assassination of a Hamas official in Dubai included having two of his Palestinian death squad hit men (later arrested by Dubai authorities) assist in the operation, a charge he also denied. His personal wealth was conservatively estimated in 2005 by an Israeli think tank at $120m.
  • Just as George Bush Jr and Bill Clinton terminated the services of Arafat after the latter proved unable to sign off on the final Palestinian surrender demanded of him at Camp David in the summer of 2000 (an inability that would arguably cost him his life at the hands of Abbas or Dahlan - depending on which of the two you talk to - acting at the behest of the Israelis, and very likely the Americans), Obama will terminate the services of Abbas should he fail to sign the US-sponsored surrender. Indeed, even if Abbas does sign such a deal, as he is approaching his 80th birthday, Dahlan will be needed and ready to take over after his death. It is in this context that Egyptian army top brass recently visited Israel for a whole week while the Egyptian private TV station Dream (owned by a Mubarak businessman ally, Ahmad Bahgat) aired an interview with Dahlan in which he attacked Abbas, in yet another effort to delegitimise the latter. Dahlan was offered the support of the rightwing Egyptian businessman Naguib Sawiris (infamous for his cutting off cellular phone lines in Cairo during the Egyptian uprising in January 2011 on the orders of Mubarak’s security apparatus), who sang Dahlan’s praises (as well as those of Mohammad Rashid, aka Khaled Salam, a former Arafat aide and another allegedly corrupt embezzling fugitive) as one of the most honest businessmen he ever worked with and then proceeded to denounce Abbas as a “liar”.
  • Dahlan’s power lies in his ability to serve the agenda of multiple patrons. For the Israelis, he is a ruthless, corrupt power-grubbing man who would do their bidding obediently were he to come to power in Gaza or the West Bank. Both the Americans and the Israelis see him as especially willing to sign on an American-sponsored Netanyahu deal without equivocation. For the Egyptians and the Gulf monarchies (and he is said to be a business partner with a Gulf ruler), he would look after their interests and obey their orders by eliminating any resistance to a US-imposed Palestinian final surrender to Israel and by eliminating Hamas once and for all. For the Egyptian coup leaders, whose coup replicated Dahlan’s 2007 Gaza coup, except successfully, he could rid them of Hamas, which they see as an extension of the power of the Muslim Brotherhood (MB), and render their relations with Israel even closer than they already are. Dahlan’s most important role, however, is the one that the Americans need him for, namely, to replace Abbas should the latter fail to sign on to the final surrender that Barack Obama and John Kerry have been cooking at the behest of Netanyahu in the past few months.
  • Once Dahlan’s schemes became too obvious to ignore, Abbas stripped him of power and chased him out of the Ramallah Green Zone in 2010. He moved to Mubarak’s Egypt and later, following the ouster of Mubarak, to Dubai (and on occasion Europe) where he remained until his more recent resurrection by the heirs of Mubarak who now sit on Egypt’s throne.
  • As an Egyptian court has recently joined Israel and the US in banning Hamas from the country and considering it a terrorist organisation and as the Israelis have threatened openly this week that an invasion of Gaza will be necessary, the plan for a Dahlan take-over is hatching slowly but surely. This is viewed as such a threat that Abbas dispatched his supporters and cronies to the streets of Ramallah to prove to the Americans and the Israelis that he still commands much support in the West Bank. The competition between Abbas and Dahlan is essentially one where each of them wants to prove that he can be more servile to Israeli, US, Egyptian, and Gulf interests while maintaining legitimacy and full control of the Palestinian population. The details of the plot are not clear. They could involve an invasion of Gaza from the Egyptian and the Israeli sides (and Egyptian officials have already threatened to carry out such an invasion a few weeks ago), a coup of sorts in the West Bank, and even assassinations of Haniyyah and/or Abbas. All bets are off at the moment, as Abbas, like Arafat before him, is offering complete obedience to US and Israeli diktat and will go much farther than Arafat did, but he understands too well that he would lose all legitimacy and control were he to sign the final humiliating surrender that the US and Israel are insisting on. Dahlan of course will have no such worries.
  • As for Hamas, which, unlike the MB, is a resistance movement and not a political party, it cannot be rounded up or crushed so easily, and the entry of Dahlan into Gaza, let alone the West Bank, will usher in a civil war that could likely end in his defeat yet again, short of a full Israeli invasion of Gaza to return him to power (Dahlan has also been accused by the PA of collaborating with the Israelis in their 2008 invasion of Gaza and has recently been accused in aiding the ongoing counter-revolution in Egypt). The same scenario would be repeated in the West Bank. The future of the Palestinian people is in danger and the enemies of the Palestinians surround them inside and outside Palestine. The Obama-Israeli-Egyptian-Gulf plans for liquidating their cause and their rights continue afoot. However, just like past corrupt Palestinian leaders were unsuccessful in liquidating the rights of the Palestinians and their cause, the Israeli and US betting on the Dahlan horse will only increase the resolve of the Palestinian people and their supporters that Palestinian resistance will only cease after the final liquidation of Israeli state racism and colonialism in all its manifestations throughout historic Palestine.
Paul Merrell

Data Pirates of the Caribbean: The NSA Is Recording Every Cell Phone Call in the Bahama... - 0 views

  • The National Security Agency is secretly intercepting, recording, and archiving the audio of virtually every cell phone conversation on the island nation of the Bahamas. According to documents provided by NSA whistleblower Edward Snowden, the surveillance is part of a top-secret system – code-named SOMALGET – that was implemented without the knowledge or consent of the Bahamian government. Instead, the agency appears to have used access legally obtained in cooperation with the U.S. Drug Enforcement Administration to open a backdoor to the country’s cellular telephone network, enabling it to covertly record and store the “full-take audio” of every mobile call made to, from and within the Bahamas – and to replay those calls for up to a month. SOMALGET is part of a broader NSA program called MYSTIC, which The Intercept has learned is being used to secretly monitor the telecommunications systems of the Bahamas and several other countries, including Mexico, the Philippines, and Kenya. But while MYSTIC scrapes mobile networks for so-called “metadata” – information that reveals the time, source, and destination of calls – SOMALGET is a cutting-edge tool that enables the NSA to vacuum up and store the actual content of every conversation in an entire country.
  • All told, the NSA is using MYSTIC to gather personal data on mobile calls placed in countries with a combined population of more than 250 million people. And according to classified documents, the agency is seeking funding to export the sweeping surveillance capability elsewhere. The program raises profound questions about the nature and extent of American surveillance abroad. The U.S. intelligence community routinely justifies its massive spying efforts by citing the threats to national security posed by global terrorism and unpredictable rival nations like Russia and Iran. But the NSA documents indicate that SOMALGET has been deployed in the Bahamas to locate “international narcotics traffickers and special-interest alien smugglers” – traditional law-enforcement concerns, but a far cry from derailing terror plots or intercepting weapons of mass destruction.
  • By targeting the Bahamas’ entire mobile network, the NSA is intentionally collecting and retaining intelligence on millions of people who have not been accused of any crime or terrorist activity. Nearly five million Americans visit the country each year, and many prominent U.S. citizens keep homes there, including Sen. Tom Harkin (D-Iowa), Bill Gates, and Oprah Winfrey.
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  • The Intercept has confirmed that as of 2013, the NSA was actively using MYSTIC to gather cell-phone metadata in five countries, and was intercepting voice data in two of them. Documents show that the NSA has been generating intelligence reports from MYSTIC surveillance in the Bahamas, Mexico, Kenya, the Philippines, and one other country, which The Intercept is not naming in response to specific, credible concerns that doing so could lead to increased violence. The more expansive full-take recording capability has been deployed in both the Bahamas and the unnamed country. MYSTIC was established in 2009 by the NSA’s Special Source Operations division, which works with corporate partners to conduct surveillance. Documents in the Snowden archive describe it as a “program for embedded collection systems overtly installed on target networks, predominantly for the collection and processing of wireless/mobile communications networks.”
  • If an entire nation’s cell-phone calls were a menu of TV shows, MYSTIC would be a cable programming guide showing which channels offer which shows, and when. SOMALGET would be the DVR that automatically records every show on every channel and stores them for a month. MYSTIC provides the access; SOMALGET provides the massive amounts of storage needed to archive all those calls so that analysts can listen to them at will after the fact. According to one NSA document, SOMALGET is “deployed against entire networks” in the Bahamas and the second country, and processes “over 100 million call events per day.”
  • When U.S. drug agents need to tap a phone of a suspected drug kingpin in another country, they call up their counterparts and ask them set up an intercept. To facilitate those taps, many nations – including the Bahamas – have hired contractors who install and maintain so-called lawful intercept equipment on their telecommunications. With SOMALGET, it appears that the NSA has used the access those contractors developed to secretly mine the country’s entire phone system for “signals intelligence” –recording every mobile call in the country. “Host countries,” the document notes, “are not aware of NSA’s SIGINT collection.” “Lawful intercept systems engineer communications vulnerabilities into networks, forcing the carriers to weaken,” says Christopher Soghoian, the principal technologist for the American Civil Liberties Union. “Host governments really should be thinking twice before they accept one of these Trojan horses.”
  • The DEA has long been in a unique position to help the NSA gain backdoor access to foreign phone networks. “DEA has close relationships with foreign government counterparts and vetted foreign partners,” the manager of the NSA’s drug-war efforts reported in a 2004 memo. Indeed, with more than 80 international offices, the DEA is one of the most widely deployed U.S. agencies around the globe. But what many foreign governments fail to realize is that U.S. drug agents don’t confine themselves to simply fighting narcotics traffickers. “DEA is actually one of the biggest spy operations there is,” says Finn Selander, a former DEA special agent who works with the drug-reform advocacy group Law Enforcement Against Prohibition. “Our mandate is not just drugs. We collect intelligence.” What’s more, Selander adds, the NSA has aided the DEA for years on surveillance operations. “On our reports, there’s drug information and then there’s non-drug information,” he says. “So countries let us in because they don’t view us, really, as a spy organization.”
  • “I seriously don’t think that would be your run-of-the-mill legal interception equipment,” says the former engineer, who worked with hardware and software that typically maxed out at 1,000 intercepts. The NSA, by contrast, is recording and storing tens of millions of calls – “mass surveillance,” he observes, that goes far beyond the standard practices for lawful interception recognized around the world. The Bahamas Telecommunications Company did not respond to repeated phone calls and emails.
  • The proliferation of private contractors has apparently provided the NSA with direct access to foreign phone networks. According to the documents, MYSTIC draws its data from “collection systems” that were overtly installed on the telecommunications systems of targeted countries, apparently by corporate “partners” cooperating with the NSA. One NSA document spells out that “the overt purpose” given for accessing foreign telecommunications systems is “for legitimate commercial service for the Telco’s themselves.” But the same document adds: “Our covert mission is the provision of SIGINT,” or signals intelligence.
  • According to the NSA documents, MYSTIC targets calls and other data transmitted on  Global System for Mobile Communications networks – the primary framework used for cell phone calls worldwide. In the Philippines, MYSTIC collects “GSM, Short Message Service (SMS) and Call Detail Records” via access provided by a “DSD asset in a Philippine provider site.” (The DSD refers to the Defence Signals Directorate, an arm of Australian intelligence. The Australian consulate in New York declined to comment.) The operation in Kenya is “sponsored” by the CIA, according to the documents, and collects “GSM metadata with the potential for content at a later date.” The Mexican operation is likewise sponsored by the CIA. The documents don’t say how or under what pretenses the agency is gathering call data in those countries. In the Bahamas, the documents say, the NSA intercepts GSM data that is transmitted over what is known as the “A link”–or “A interface”–a core component of many mobile networks. The A link transfers data between two crucial parts of GSM networks – the base station subsystem, where phones in the field communicate with cell towers, and the network subsystem, which routes calls and text messages to the appropriate destination. “It’s where all of the telephone traffic goes,” says the former engineer.
  • When U.S. drug agents wiretap a country’s phone networks, they must comply with the host country’s laws and work alongside their law enforcement counterparts. “The way DEA works with our allies – it could be Bahamas or Jamaica or anywhere – the host country has to invite us,” says Margolis. “We come in and provide the support, but they do the intercept themselves.” The Bahamas’ Listening Devices Act requires all wiretaps to be authorized in writing either by the minister of national security or the police commissioner in consultation with the attorney general. The individuals to be targeted must be named. Under the nation’s Data Protection Act, personal data may only be “collected by means which are both lawful and fair in the circumstances of the case.” The office of the Bahamian data protection commissioner, which administers the act, said in a statement that it “was not aware of the matter you raise.” Countries like the Bahamas don’t install lawful intercepts on their own. With the adoption of international standards, a thriving market has emerged for private firms that are contracted by foreign governments to install and maintain lawful intercept equipment. Currently valued at more than $128 million, the global market for private interception services is expected to skyrocket to more than $970 million within the next four years, according to a 2013 report from the research firm Markets and Markets.
  • If the U.S. government wanted to make a case for surveillance in the Bahamas, it could point to the country’s status as a leading haven for tax cheats, corporate shell games, and a wide array of black-market traffickers. The State Department considers the Bahamas both a “major drug-transit country” and a “major money laundering country” (a designation it shares with more than 60 other nations, including the U.S.). According to the International Monetary Fund, as of 2011 the Bahamas was home to 271 banks and trust companies with active licenses. At the time, the Bahamian banks held $595 billion in U.S. assets. But the NSA documents don’t reflect a concerted focus on the money launderers and powerful financial institutions – including numerous Western banks – that underpin the black market for narcotics in the Bahamas. Instead, an internal NSA presentation from 2013 recounts with pride how analysts used SOMALGET to locate an individual who “arranged Mexico-to-United States marijuana shipments” through the U.S. Postal Service.
  • The presentation doesn’t say whether the NSA shared the information with the DEA. But the drug agency’s Special Operations Divison has come under fire for improperly using classified information obtained by the NSA to launch criminal investigations – and then creating false narratives to mislead courts about how the investigations began. The tactic – known as parallel construction – was first reported by Reuters last year, and is now under investigation by the Justice Department’s inspector general. So: Beyond a desire to bust island pot dealers, why would the NSA choose to apply a powerful collection tool such as SOMALGET against the Bahamas, which poses virtually no threat to the United States? The answer may lie in a document that characterizes the Bahamas operation as a “test bed for system deployments, capabilities, and improvements” to SOMALGET. The country’s small population – fewer than 400,000 residents – provides a manageable sample to try out the surveillance system’s features. Since SOMALGET is also operational in one other country, the Bahamas may be used as a sort of guinea pig to beta-test improvements and alterations without impacting the system’s operations elsewhere. “From an engineering point of view it makes perfect sense,” says the former engineer. “Absolutely.”
  • SOMALGET operates under Executive Order 12333, a Reagan-era rule establishing wide latitude for the NSA and other intelligence agencies to spy on other countries, as long as the attorney general is convinced the efforts are aimed at gathering foreign intelligence. In 2000, the NSA assured Congress that all electronic surveillance performed under 12333 “must be conducted in a manner that minimizes the acquisition, retention, and dissemination of information about unconsenting U.S. persons.” In reality, many legal experts point out, the lack of judicial oversight or criminal penalties for violating the order render the guidelines meaningless. “I think it would be open, whether it was legal or not,” says German, the former FBI agent. “Because we don’t have all the facts about how they’re doing it. For a long time, the NSA has been interpreting their authority in the broadest possible way, even beyond what an objective observer would say was reasonable.” “An American citizen has Fourth Amendment rights wherever they are,” adds Kurt Opsahl, an attorney with the Electronic Frontier Foundation. “Nevertheless, there have certainly been a number of things published over the last year which suggest that there are broad, sweeping programs that the NSA and other government agencies are doing abroad that sweep up the communications of Americans.”
  • Legal or not, the NSA’s covert surveillance of an entire nation suggests that it will take more than the president’s tepid “limits” to rein in the ambitions of the intelligence community. “It’s almost like they have this mentality – if we can, we will,” says German. “There’s no analysis of the long-term risks of doing it, no analysis of whether it’s actually worth the effort, no analysis of whether we couldn’t take those resources and actually put them on real threats and do more good.” It’s not surprising, German adds, that the government’s covert program in the Bahamas didn’t remain covert. “The undermining of international law and international cooperation is such a long-term negative result of these programs that they had to know would eventually be exposed, whether through a leak, whether through a spy, whether through an accident,” he says. “Nothing stays secret forever. It really shows the arrogance of these agencies – they were just going to do what they were going to do, and they weren’t really going to consider any other important aspects of how our long-term security needs to be addressed.”
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    Words fail me.
Paul Merrell

Israel withholds funds, weighs lawsuits against Palestinians | Reuters - 0 views

  • (Reuters) - Israel will withhold critical tax revenue and seek ways to bring war crimes prosecutions against Palestinian leaders in retaliation for Palestinian moves to join the International Criminal Court (ICC), Israeli officials said on Saturday. On Friday, the Palestinians delivered documents to U.N. headquarters in New York on joining the Rome Statute of the ICC in The Hague and other global treaties with the aim of prosecuting Israelis for what they consider war crimes committed on their territory.
  • The ICC was set up to try war crimes and crimes against humanity such as genocide. Israel and the United States object to unilateral approaches by the Palestinians to world bodies, saying they undermine prospects for negotiating a peaceful settlement of the decades-old Middle East conflict.
  • This is highway robbery. Not only is this illegal, they are adding money theft to land theft. The revenues belong to the Palestinian people, they go to pay salaries and support our economy. Israel has no business deciding to steal our funds," senior Palestinian negotiator Hanan Ashrawi told Reuters.Under interim peace deals from the 1990s, Israel collects at least $100 million a month in duties on behalf of the Palestinian Authority.
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  • In addition to the revenue freeze, an Israeli official said Israel was "weighing the possibilities for large-scale prosecution in the United States and elsewhere" of Palestinian President Mahmoud Abbas and other senior Palestinian officials.Israel would probably press these cases via non-governmental groups and pro-Israel legal organizations capable of filing lawsuits abroad, a second Israeli official said.Israel sees the heads of the Palestinian Authority in the occupied West Bank as collaborators with the Islamist militant group Hamas, which dominates Gaza, because of a unity deal they forged in April, the officials said.Netanyahu had previously warned that unilateral moves by the Palestinian Authority at the United Nations would expose its leaders to prosecution over support for Hamas, viewed by Israel and much of the West as a terrorist organization.
  • Abbas opted to join the ICC after losing a motion last week in the U.N. Security Council to set a 2017 deadline for a Palestinian state to be established in land occupied by Israel.The United States, Israel's main ally, supports an eventual independent Palestinian state, but has argued against unilateral moves like Friday's, saying they could damage the peace process.Washington sends about $400 million in economic support to the Palestinians every year. Under U.S. law, that aid would be cut off if the Palestinians used membership of the ICC to press claims against Israel.
Paul Merrell

What Really Matters About the Extended Negotiations with Iran « LobeLog - 0 views

  • The single most important fact about the extension of the nuclear negotiations with Iran is that the obligations established by the Joint Plan of Action negotiated a year ago will remain in effect as negotiations continue. This means that our side will continue to enjoy what these negotiations are supposed to be about: preclusion of any Iranian nuclear weapon, through the combination of tight restrictions on Iran’s nuclear program and intrusive monitoring to ensure the program stays peaceful. Not only that, but also continuing will be the rollback of Iran’s program that the JPOA achieved, such that Iran will remain farther away from any capability to build a bomb than it was a year ago, and even farther away from where it would have been if the negotiations had never begun or from where it would be if negotiations were to break down. Our side—the United States and its partners in the P5+1—got by far the better side of the deal in the JPOA. We got the fundamental bomb-preventing restrictions (including most significantly a complete elimination of medium-level uranium enrichment) and enhanced inspections we sought, in return for only minor sanctions relief to Iran that leaves all the major banking and oil sanctions in place. If negotiations were to go on forever under these terms, we would have no cause to complain to the Iranians.
  • But the Iranians do not have comparable reason to be happy about this week’s development. The arrangement announced in Vienna is bound to be a tough sell back in Tehran for President Rouhani and Foreign Minister Zarif. The sanctions continue, and continue to hurt, even though the Iranian negotiators have conceded most of what they could concede regarding restrictions on the nuclear program. There will be a lot of talk in Tehran about how the West is stringing them along, probably with the intent of undermining the regime and not just determining its nuclear policies.
  • That the Iranian decision-makers have put themselves in this position is an indication of the seriousness with which they are committed to these negotiations. This week’s extension is of little use to them except to keep alive the prospect that a final deal will be completed. Also indicating their seriousness is the diligence with which Iran has complied with its obligations under the JPOA. The International Atomic Energy Agency confirmed today Iran’s compliance with its final pre-November 24th obligation, which had to do with reducing its stock of low-enriched uranium in gaseous form.
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  • Because the P5+1 got much the better side of the preliminary agreement, the P5+1 will have to make more of the remaining concessions to complete a final agreement. The main hazard to concluding a final deal is not an Iranian unwillingness to make concessions. The main hazard is a possible Iranian conclusion that it does not have an interlocutor on the U.S. side that is bargaining in good faith. We push the Iranians closer to such a conclusion the more talk there is in Washington about imposing additional pressure and additional sanctions, as people such as Marco Rubio and AIPAC have offered in response to today’s announcement about the extension of negotiations. We have sanctioned the dickens out of Iran for years and are continuing to do so, but the only time all this pressure got any results is when we started to negotiate in good faith. Surly sanctions talk on Capitol Hill only strengthens Iranian doubts about whether the U.S. administration will be able to deliver on its side of a final agreement, making it less, not more, likely the Iranians would offer still more concessions. Any actual sanctions legislation would blatantly violate the terms of the JPOA and give the Iranians good reason to walk away from the whole business, marking the end of any special restrictions on their nuclear program.
  • Indefinite continuation of the terms of the existing agreement would suit us well, but completion of a final agreement would be even better—and without one the Iranians eventually would have to walk away, because indefinite continuation certainly does not suit them. And besides, the sanctions hurt us economically too. To get a final agreement does not mean fixating on the details of plumbing in enrichment cascades, which do not affect our security anyway. It means realizing what kind of deal we got with the preliminary agreement, and negotiating in good faith to get the final agreement.
Paul Merrell

What Obama Should Have Told Bibi - The Unz Review - 0 views

  • For what it’s worth, this is what I propose Obama should have said to Bibi but didn’t, with a transcript of the conversation also faxed over to Ron Lauder at the World Jewish Congress: “Nice to have you back Prime Minister, but not really as it’s close to lunchtime, to which, incidentally, you are not invited. Why don’t you stay home? You have been interfering in our politics and denigrating both me personally and my office for far too long. How would you like it if I were to go to Israel and endorse one of your opponents? If you keep up this crap I will revoke your visa and you’ll never visit here again.” “And by the way, your plan to expel thousands of Arabs from East Jerusalem and to shoot kids throwing stones at your occupying army is not acceptable to us. And then there are new reports of your harvesting organs and other medical transplant material from the bodies of Palestinians that you have killed. There’s a long history of that in your country, but it’s a bit much even by your standards, isn’t it, and it begs the question whether there is anything that you won’t do. Next time a motion comes up in the United Nations condemning your brutality we will support it. Maybe we’ll co-sponsor or even propose it to show that we’re serious.” “We are running out of money here in Washington and are thinking of cutting benefits to our own people. I note that Israelis have free medical care and university education, which means that we are subsidizing things that we Americans do not have so it hardly seems fair. We have been giving you more than $3 billion in aid every year and also looking the other way when you benefit from tax free charitable contributions that actually are illegal under American law. By executive order, I am stopping the cash flow and asking the IRS to look at your friends over here.”
  • “And speaking of Israel’s many friends, your good buddy at the State Department Victoria Nuland is now working down in the mail room. And I am asking the Justice Department to register the American Israel Public Affairs Committee (AIPAC) as a foreign agent, subject to having its finances and operations monitored by U.S. authorities. Oh, and your spy Jonathan Pollard will be denied parole later this month and will be the guest of a federal prison for the next twenty years.” “I cannot see where you have done anything for us except complain. As you are now pledging Israel to continue its occupation of Palestinian land and ‘live by the sword’, meaning the killing of Arabs will accelerate, I am suspending all military cooperation with you until you come up with a plan to remove most of your settlers from the West Bank. Come back when you have something to show me. Don’t let the door hit you in the ass on the way out.” Well, okay, it was never bloody likely to happen that way, but I can dream, can’t I? If you think Obama is spineless when confronted by Ron Lauder and the usual suspects, just think of how bad it will be when we have President Clinton or President Rubio, proxies for their Israel firster donors Haim Saban and Paul Singer respectively. The new president and his or her staff will have to learn how to perform proskynesis whenever Netanyahu enters the oval office.
Paul Merrell

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

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