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A U.S. aircraft reportedly shot down an armed unmanned aerial vehicle after it fired on “coalition forces” in al-Tanf, in southern Syria, in the Iraq – Jordan – Syria tri-border region on June 8. The U.S. Defense Department considers the area with undefined parameters as a deconfliction zone, not to be confused with the de-escalation zones established after Russian, Turkish, Iranian and “opposition” talks in Astana.

A U.S. aircraft reportedly shot down an armed unmanned aerial vehicle after it fired on “coalition forces” in al-Tanf, in southern Syria, in the Iraq – Jordan – Syria tri-border region on June 8. The U.S. Defense Department considers the area with undefined parameters as a deconfliction zone, not to be confused with the de-escalation zones established after Russian, Turkish, Iranian and “opposition” talks in Astana.

The “coalition” stated that the air strike was conducted to protect Syrian rebels and coalition forces against Syrian Arab Army and allied forces. A statement was released, saying “The pro-regime UAV, similar in size to a U.S. MQ-1 Predator, was shot down by a U.S. aircraft after it dropped one of several weapons it was carrying near a position occupied by Coalition personnel who are training and advising partner ground forces in the fight against ISIS.” The engagement follows incidents on May 18 and on June 6. On May 18, according to USCENTCOM, the coalition carried out air strikes against an “Iranian controlled unit” that was “threatening coalition forces” in Al-Tanf, Syria. On June 6, at 17:40 a similar incident occurred, and USCENTCOM claimed again the right to “self-defense”.

In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies. Christine Lagarde–a Paris native who has held her position at the IMF since 2011–says the only substantial problems with existing cryptocurrency are fixable over time. In the long run, the technology itself can replace national monies, conventional financial intermediation, and even “puts a question mark on the fractional banking model we know today.”

Months after Russia became the first country to announce the creation of a state-backed Cryptorouble, Venezuela has followed suit, announcing the creation of El Petro, a state-sanctioned cryptocurrency to be backed by Venezuela’s extensive reserves of crude oil. Venezuela has already broken free of Dollar dependence months ago when Caracas announced it would be trading its oil using China’s Petroyuan. Venezuelan President Nicolas Maduro also stated that he would like to begin trade with Russia in the Rouble. With Venezuela heavily sanctioned by the United States, El Petro looks to be another tool which Venezuela can use to continue and conduct international commerce without relying on Dollar based financial institution.

Crucially, while existing Cryptocurrencies tend to create their initial value through an arithmetic process called “mining”, leaving them heavily subject to market fluctuation, El Petro will be backed by a known commodity, oil, thus giving it a clear advantage for risk-averse investors. While the world’s most popular cryptocurrency Bitcoin, has seen its value skyrocket against the Dollar, some remain unconvinced of its long-term prospects for stability. A currency, backed by oil would, by contrast, ostensibly fluctuate in accordance with the well established global price of Brent Crude.

An official oil-backed cryptocurrency could work in tandem with Russia’s soon to be launched Cryptorouble, a digital currency which will ostensibly be backed by the vast resources of the Russian state. With western governments ambivalent about how to treat existing cryptocurrencies, Russia and Venezuela have taken the lead to both normalize cryptos while backing them by well-known assets.

Years late to the party, mainstream media outlets like USA Today, Reuters, and Buzzfeed are just out with "breaking" and "exclusive" stories detailing how a vast arsenal of weapons sent to Syria by the CIA in cooperation with US allies fuelled the rapid growth of ISIS. Buzzfeed's story entitled, Blowback: ISIS Got A Powerful Missile The CIA Secretly Bought In Bulgaria, begins by referencing "a new report on how ISIS built its arsenal highlights how the US purchased munitions, intended for Syrian rebels, that ended up in the hands of the terrorist group." The original study that Buzzfeed and other media are referencing comes from a UK-based independent weapons research organization called Conflict Armament Research (CAR) which has had a team of weapons and munitions experts on the ground in the Middle East for years examining arms and equipment recovered from ISIS and other terrorist groups in Iraq and Syria. Using serial numbers, crate shipping markings, and all available forensics data, the CAR experts began finding that as early as 2013 to 2014 much of the Islamic State's advanced weapons systems as well as small arms were clearly sourced to the United States and the West. “Supplies of materiel into the Syrian conflict from foreign parties - notably the United States and Saudi Arabia - have indirectly allowed IS to obtain substantial quantities of anti-armor ammunition,” states the CAR report. “These weapons include anti-tank guided weapons and several varieties of rocket with tandem warheads, which are designed to defeat modern reactive armor.”

The study further reveals that in one notable instance, a weapons shipment of advanced missile systems switched hands from US intelligence to "moderate" Syrian groups to ISIS in only a two month time period. Though the report is now evoking shock and confusion among pundits, the same weapons research group has actually published similar findings and conclusions going years back into the Syrian conflict.  For example, a previous 2014 Conflict Armament Research report found that Balkan origin anti-tank rockets recovered from ISIS fighters appeared identical to those shipped in 2013 to Syrian rebel forces as part of a CIA program. And CAR's damning publications presenting such inconvenient empirical data have been consistent for years, yet were largely ignored and suppressed by analysts and mainstream media who were too busy cheerleading US support for Syrian "rebels" cast as romantic revolutionaries in their struggle to topple Assad and his secular nationalist government. Of course, it's an old story if you've been reading Zero Hedge or the profusion of independent outlets that have long reported the truth about the covert "dirty war" in Syria since nearly the beginning. 

Even though it's now suddenly acceptable and fashionable to admit - as does one recent BBC headline ("The Jihadis You Pay For") - that the US and Saudi covert program in Syria fuelled the rise of ISIS and various other al-Qaeda linked terror groups, it must be remembered that only a short time ago the mainstream media openly mocked analysts and writers who dared make the connection between the West's massive covert Syrian rebel aid programs and the al-Qaeda insurgents who so clearly benefited. When news of the 2012 Defense Intelligence Agency report  broke, which described what it called a "Salafist principality" or "an Islamic State" as a strategic asset or buffer in Syria that could be used by the Western coalition "in order to isolate the Syrian regime", American media outlets dismissed what was labelled a "conspiracy theory" at the time in spite of the hard evidence of a US military intelligence report being made available. The Daily Beast for example mocked what it called "The ISIS Conspiracy Theory that Ate the Web" - describing those analyzing the Pentagon intelligence document as far-right and far-left loons. This occurred even as the document was taken very seriously and analyzed in-depth by some of the world's foremost Middle East experts and investigative journalists in foreign outlets like the London Review of Books, The Guardian, Der Spiegal , as well as RT and Al Jazeera.

The US Pentagon has inked plans to the White House to fight in Somalia for two more years, the New York Times reported yesterday.

According to the blueprint, the US will conduct an internal review on Somalia within 24 months to decide whether to continue fighting in the country. The news comes off the back of an escalation in counter-terrorism drone strikes in Somalia under President Donald Trump.

rump has already provided the US military and CIA broader authority to execute strikes in Somalia, considering it an “area of active hostilities”. As a result, 30 airstrikes have been executed in Somalia, with the most recent killing some 100 Somalis. Controversial raids have also taken place under Trump, with the most notable taking place in August, killing 10 civilians in southern Somalia as they ran and took cover behind banana trees. A US investigation concluded that no civilians were killed in the raid, despite human rights groups disputing the claim.

Russian President Vladimir Putin has made history today, when he endorsed the creation of a soon to be unveiled CryptoRouble, the world’s first cryptocurrency endorsed by a state. Russian monetary experts and political leaders have recently begun engaging in a debate which pitted monetary conservatives against monetary radicals. Most Russian officials agreed that allowing the use of western designed (though not western state endorsed) cryptocurrencies such as Bitcoin, was not compatible with Russian financial security concerns. China, for example, reached a similar conclusion about existing cryptocurrencies. In Russia, the debate then quickly evolved into to a question over what role if any, a government and central bank should have in respect of cryptocurrencies. Conservatives argued that the entire process of blockchain cryptocurrency technology should not be accepted as a legal alternative to traditional state issued notes, while radicals argued for the creation and regulation of a uniquely Russian cryptocurremcy. The radials have clearly won and appear to have been embraced by President Putin.

BEIRUT, LEBANON (3:42 P.M.) – Moments ago, reports came in that Russian Ground Forces troops entered the Koneko Gas Field and its attached company headquarters area in eastern Deir Ezzor province at the invitation of Kurdish-led forces. The information, disseminated by Syrian military reports, claims that an agreement has been brokered between Russia and the US-backed Syrian Democratic Forces whereby the Syrian government will be allowed to assume control over the gas field. If true, then the scope of any backdoor agreements reached between Moscow and Washington regarding the transfer of energy assets held by Kurdish-led militias back to the rightful ownership of the Damascus government may yet encompass wider dimensions (i.e. future transfers) – although there is absolutely no evidence to suggest this is in fact the case.

Nonetheless, the unexpected transfer of the Koneko Gas Field by the SDF to the Syrian government does now raise questions as to whether or not the hitherto competition between the Syrian Arab Army and Kurdish-led militias to seize control of the much larger Al-Omar Oil Field from ISIS further south is still on.

A changing-places moment brought about by Russia-gate is that liberals who are usually more skeptical of U.S. intelligence agencies, especially their evidence-free claims, now question the patriotism of Americans who insist that the intelligence community supply proof to support the dangerous claims about Russian ‘hacking” of Democratic emails especially when some  veteran U.S. government experts say the data would be easily available if the Russians indeed were guilty. One of those experts is William Binney, a former high-level National Security Agency intelligence official who, after his 2001 retirement, blew the whistle on the extraordinary breadth of NSA surveillance programs. His outspoken criticism of the NSA during the George W. Bush administration made him the subject of FBI investigations that included a raid on his home in 2007. Even before Edward Snowden’s NSA whistleblowing, Binney publicly revealed that NSA had access to telecommunications companies’ domestic and international billing records, and that since 9/11 the agency has intercepted some 15 trillion to 20 trillion communications. Snowden has said: “I have tremendous respect for Binney, who did everything he could according to the rules.”

I spoke to Binney on Dec. 28 about Russia-gate and a host of topics having to do with spying and America’s expanding national security state.

Bernstein: Your expertise was in the Soviet Union and so you must know a lot about bugging.  Do you believe that Russia hacked and undermined our last election?  Can Trump thank Russia for the result? Binney:  We at Veteran Intelligence Professionals for Sanity (VIPS) published an article on this in July.  First of all, if any of the data went anywhere across the fiber optic world, the NSA would know.  Just inside the United States, the NSA has over a hundred tap points on the fiber lines, taking in everything.    Mark Klein exposed some of this at the AT&T facility in San Francisco. This is not for foreigners, by the way, this is for targeting US citizens.  If they wanted only foreigners, all they would have to do was look at the transatlantic cables where they surface on the coast of the United States.  But they are not there, they are distributed among the US population. Bernstein: So if, in fact, the Russians were tapping into DNC headquarters, the NSA would absolutely know about it. Binney: Yes, and they would also have trace routes on where they went specifically, in Russia or anywhere else.  If you remember, about three or four years ago, the Chinese hacked into somewhere in the United States and our government came out and confirmed that it was the Chinese who did it, and it came from a specific military facility in Shanghai.  The NSA had these trace route programs embedded by the hundreds across the US and all around the world.

After repeated warnings over the past couple of years, Turkey and Russia have signed a pact to increase use of the ruble and lira in cross-border payments, with Turkey signing on to Russia's alternative to SWIFT, the international telecommunications protocol used by banks and central banks the world over. Though SWIFT is an international cooperative owned by its members, with more than 10,000 banks worldwide relying on its system for handling sizable inter-bank transactions, the safety of the network was brought into question after a series of cyberattacks in 2015 and 2016 resulted in the theft of $101 million from the Central Bank of Bangladesh. For the first time since SWIFT's laucnh, the hacks stoked doubts about the system's safety, and prompted many US rivals, including Russia, to ramp up work on their alternatives to SWIFT.

In addition to Turkey, China and Russia have signed agreements to bolster trade between the two countries, including settling a larger percentage of their bilateral trade in rubles and renminbi. For China, bilateral trade with Russia grew from $69.6 billion in 2016 to $107.1 billion last year. China is Russia's biggest partner for imports and exports. There has also been talk about India joining Russia's SWIFT alternative as Washington continues to threaten New Delhi with sanctions over its decision to purchase Russian-made missile-defense systems. According to Reuters, Russian Finance Minister Anton Siluanov signed the agreement with Ankara on Tuesday. The agreement, signed on Oct. 4, will encourage the two countries to start using Russia's system in mutual settlements.

After agreeing to pay a whopping $3.9 billion in fines and restitution, Goldman Sachs has finally been freed from one of its biggest albatrosses for its international business: Malaysian prosecutors have dropped all criminal charges in the 1MDB episode.

Reuters reports that, on Friday morning local time, Malaysian prosecutors announced that they would be withdrawing criminal charges against three Goldman Sachs units accused of misleading investors over a series of bond sales worth a combined $6.5 billion which helped fund the ill-fated sovereign wealth fund 1MDB (it stands for 1Malaysia Development Berhad). The Goldman subsidiaries based in London, Hong Kong and Singapore had pleaded not guilty to criminal charges back in February and the bank has consistently denied wrongdoing, though gallons of ink have been spilled about the alleged skulduggery that reportedly involved officials as senior as CEO Lloyd Blankfein. Now, the bank needs to settle things with the DoJ, which is also pursuing a criminal investigation. The DoJ estimates that $4.5 billion was siphoned from the fund by a group of insiders led by the fugitive financier Jho Low, the alleged mastermind, and former PM Najib Razak, who received hundreds of millions of dollars in proceeds from the fraud. Late last year, the bank was reportedly on the verge of a settlement with US authorities for roughly $2 billion, but those talks have reportedly fallen apart.

Russian financial institutions and firms are ready to work without SWIFT's interbank cash transfer services, according to Deputy Prime Minister Arkady Dvorkovich. “Certainly, it is unpleasant, as it will prove a stumbling block for companies and banks, and will slow down work. It will be inevitable to deploy some aged technologies for information transfer and calculations. However, the companies are technically and psychologically ready for the shutdown as this threat was repeatedly voiced,” Dvorkovich said, as quoted by TASS.He added that the measure may have a negative impact on corporations working in the US and Europe.

The potential disconnection of Russia from SWIFT has been under discussion since 2014, when the EU and the US introduced the first round of international penalties against Moscow over alleged involvement in the Ukraine crisis and the reunification with Crimea.At the time, the European Parliament called for strong actions against Russia, including expelling the country from money transfer services. However, the Society for Worldwide Interbank Financial Telecommunication regarded the recommendations as violating rights and damaging for businesses.

In 2017, Russia’s Central Bank Governor Elvira Nabiullina told President Vladimir Putin that the banking sector had been provided with all the necessary conditions for operating lenders and payment systems in case of disconnection from SWIFT. According to the regulator, 90 percent of ATMs in Russia were ready to accept the Mir payment system, a domestic version of Visa and MasterCard.The Mir payment system was introduced in 2015 after clients of several Russian banks (SMP Bank, InvestCapitalBank, Russia Bank and Sobinbank) were unable to use Visa and MasterCard due to the sanctions.