COMING UP SHORT THIS MONTH.
Thought for the day
"Politicians are the same all over: they promise to build a bridge even where there is no river." -- Nikita Khrushchev, Russian Soviet politician
The German authorities froze Russian assets to the tune of over 4.8 billion euros as of September 16 as part of the sanctions, the Spiegel publication reported on Wednesday citing the Federal Ministry for Economic Affairs and Climate Action.
Of this amount, sums of money account for more than 2.2 billion euros and movable property accounts for more than 1 billion euros. The rest is real estate and "other assets".
In July, the frozen assets amounted to 4.5 billion euros. According to the publication, the German government, within the Ministry of Economic Affairs, set up a special working group to combat the circumvention of sanctions. The ministry explains that commercial banks, insurance companies and other economic entities are responsible for blocking assets as part of the relevant decision of the European Union. The ministry notes that, despite the difficulties in enforcing the sanctions regime, these measures "significantly harm the Russian economy."
An arrest has been made by the U.S. Park Police after a man vandalized the base of the Washington Monument.
Florida Governor Ron DeSantis has responded to a lawsuit brought on by three Martha’s Vineyard migrants and a leftist organization that advocates for illegal aliens.
The casting decision for the lead role in the upcoming live-action adaptation of The Little Mermaid has made Chinese Disney fans furious.
On September 19, Ukrainian militants committed another war crime against civilians in the Donetsk People’s Republic which remained unnoticed by the global media.
In the morning a precise strike hit the bus stop and a grocery store on the Baku Commissars Square in the Kuibyshev district of the city of Donetsk. As a result of the inhumane attack of the Ukrainian military at least 13 civilians were killed, including two children, many more civilians were wounded.
According to the Representative office of the DPR in the JCCC, Ukrainian forces fired 155-mm shells from their positions in the village of Netailovo located 15 kilometers from Donetsk. The attack was carried out with NATO military equipment.
Eyewitnesses say that some of the victims were alive for a moment after the attack. “They crawled until they bled out.”
A Yale School of Management and Yale Chief Executive Leadership Institute study titled “Business Retreats and Sanctions Are Crippling the Russian Economy” was issued in August, and it argues on a fraudulent basis that because (so they allege) “Russia needs world markets as an outlet for its commodity exports far more than the world needs Russian commodity supplies,” Russia will be crushed by Western sanctions that penalize countries that import those commodities from Russia.
What is fraudulent about the report is, first of all, that The West’s war against Russia isn’t a war by ALL nations against Russia, but is ONLY a war by countries that are allied with the U.S. against Russia. If it WERE a war by ALL nations against Russia, then the allegation that “Russia needs world markets as an outlet for its commodity exports far more than the world needs Russian commodity supplies” would be relevant to the outcome of this war, but it’s not. It simply isn’t relevant.
A second fraudulent argument in this Yale study is that Russia is checkmated by the U.S.-allied countries closing down the gas and oil pipelines that have been supplying those commodities to Russia’s biggest market for those commodities, which is the U.S.-allied European countries, and that the reason why Russia is checkmated on this matter is that Russia supposedly won’t be able fast enough to build new pipelines to sell those fuels elsewhere (since these EU nations had been Russia’s main customers for those fuels, and now won’t be buying it). The Yale study supposes that Europe can simply replace Russia’s pipelined gas by liquefied, containerized, shipped, and then re-gassified liquefied natural gas (LNG) from America and other suppliers, but ignores the crucial fact that pipelined gas is far cheaper, which is the reason why Europe was buying so much of it. It’s the main reason why fuel-prices are now soaring in Europe.
Russian servicemen have recently shared several videos from the front lines in different Ukrainian regions, showing how the treat the captured Ukrainian soldiers.
Wounded Ukrainians are often left by their comrades on the battlefields. In turn, Russian servicemen treat prisoners of war in accordance with international military law. All necessary medical care is provided to the wounded. The Russians provide first aid and then transport the wounded from the battlefields to hospitals, where they are treated by Russian doctors. Some seriously wounded Ukrainian soldiers are even transferred to hospitals in Moscow or other major Russian cities, if necessary.
The Ukrainian POWs on the front lines get water and cigarettes.
The videos below were shared by the Russian military from different Ukrainian regions at different time, which confirms that the Ukrainians who lay their weapons are always treated well.
One of the key myths of the twentieth century is the benign role played by international, American-led institutions after the Second World War. American liberals/progressives, fresh from imposing the New Deal in the thirties and planning and directing a world war, turned their eyes to international affairs: the United States had a world historic mission of messianic proportions: lifting developing countries into modernity by remaking them (and all other countries, for that matter) in America’s own image.
The Cold War era was rife with projects and organizations to carry out this vision, from Bretton Woods and the International Monetary Fund (IMF) in the area of international finance to the North Atlantic Treaty Organization (NATO) in military affairs to the CIA-funded Congress for Cultural Freedom used to spread progressive, US-friendly propaganda. These organizations all had mainly deleterious influences—I have previously indicated how Bretton Woods and the modern international financial system can best be described as financial imperialism—but in one area American interventionism is to this day universally acclaimed as benign: the Green Revolution.
Vanderbilt University Medical Center (VUMC) has deleted the website of their Transgender Clinic after journalist Matt Walsh detailed a doctor's promotion of transgender surgeries as a "big money maker" for the institution.
Videos obtained by Walsh also show apparent threats made against VUMC medical professionals who objected to the procedures, even for religious reasons.
Walsh posted his findings in a lengthy Twitter thread on Tuesday. In it, Dr. Shayne Taylor can be seen bragging about how she convinced Nashville to get into gender transitions because it's a "big money maker," especially because the surgeries require a lot of "follow ups."
After much bluster and jawboning, the BOJ's repeated verbal intervention attempts to keep the USDJPY below 145 proved to be nothing but one giant bluff, at least for now.
Asian currencies - especially those like China and Japan refuse to tighten in sympathy - were already under huge pressure on Thursday after the Federal Reserve continued to tighten U.S. monetary policy when the Bank of Japan decided to counter the global tightening trend again, and stuck to its ultraloose stance.
The Japanese yen initially toyed with, then decisively weakened past 145 to the dollar, a fresh 24-year low, after the BOJ said it would maintain its monetary policy under which it is buying unlimited quantities of Japanese government bonds necessary to control the yield curve. And since the BOJ is caught in an impossible dilemma, where it can't maintain Yield Curve Control (i.e., unlimited bond buying and thus currency printing) and a stable currency, Kuroda - whose shock and awe QE legacy is on the line, hyperinflation be damned - has again picked to sacrifice the yen which is in free fall this morning, with some speculating it could plummet as much as 147 today unless the BOJ steps in with intervention.
France is working up to fully nationalizing the currently 84% state-owned nuclear energy company Électricité de France (EDF) at the same time that the company is anticipating a massive downturn in profits.
EDF had already warned investors that its core profits would take a considerable hit this year, but just sharply increased that projected loss to a whopping 29 billion Euros (normally here we would say how much that is in dollars, but the European economy has taken such a downturn – largely thanks to energy woes – that the values of the Euro and the Dollar are virtually identical). The massive loss is thanks to a series of unfortunate events that have led to more than half of EDF’s 56 reactors being taken offline – a record shortage.
France’s nuclear sector has been hit with multiple issues at the worst possible moment. The industry is dealing with a pileup of delays and stoppages thanks to the Covid-19 pandemic, a “series of maintenance issues including corrosion at some of France’s aging reactors, troubles at state-controlled energy group EDF and a years-long absence of significant new nuclear investment,” according to reporting from the Financial Times over the summer. In the few months since that FT report, the situation has grown even worse, as a severe drought has caused rivers around Europe to run dry, leaving some French and Swiss nuclear plants without enough water to keep their systems cool.
Update: The Norges Bank hiked by 50bps to 2.25% as expected. The central bank said that the rate will most likely be raised further in November.
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As Bloomberg's Ven Ram writes, "just a couple of years ago, anyone who was bearish on Treasuries would have been laughed out of the room. But suddenly the mood is deadly serious as the Fed marches us toward a brave new world with a benchmark interest rate approaching, ahem, 5%."
On Wednesday, Powell stuck to the script as expected, with the result that we’re likely to see front-end Treasury yields push higher and higher in the coming months as we near the Fed's "dotted" terminal rate of 4.6%. And while traders still digest Powell's hawkish shock, let’s also take a look at what European central banks might be sending our way.
Starting last month Ukrainian lawmakers began seeking to implement severe consequences for those participating in Russia-sponsored referendums in occupied territories of Ukraine. For example, a law is being pushed through parliament which criminalizes obtaining a Russian passport in temporarily occupied territories, Ukrainian sources reported last week, according to Yahoo News.
Proposed possible punishments have included losing Ukrainian citizenship, or even lengthy jail sentences. But other officials have argued for a more compromising approach given the necessity of survival in occupied areas. But now the Ukrainian government has reiterated its willingness to impose steep penalties for even participating in any Kremlin-sponsored vote to join the Russian Federation.
Bob Bishop and George Rodriguez were on with Jason Goodman at Crowdsource the Truth to discuss the disaster and invasion at the Southern US Border.
The renewable energy revolution just got a whole lot more fun. The Beam Suntory company has announced that it’s going to be increasing its production of Kentucky bourbon using the power of renewable gas. In order to meet the growing demand for whiskey, Jim Beam is going to increase capacity by a whopping 50% at its Booker Noe distillery in Boston, Kentucky while also reducing its greenhouse gas emissions by the same percentage. A recent press release from Jim Beam and its Japanese parent company Suntory announced a $400 million investment in a renewable biogas system.
“This expansion will help ensure we meet future demand for our iconic bourbon in a sustainable way that supports the environment and the local community that has helped build and support Jim Beam,” CEO Albert Baladi said.
If you follow political news, you have probably seen articles claiming that the midterms are looking good for Democrats.
Years of underinvestment in oil and gas production is the leading cause of today’s energy crisis, and when the global economy rebounds from the current slowdown, the little spare oil production capacity that’s left will be wiped out, Saudi Aramco’s chief executive Amin Nasser said on Tuesday.
“Many of us have been insisting for years that if investments in oil and gas continued to fall, global supply growth would lag behind demand, impacting markets, the global economy, and people’s lives,” the CEO of the world’s largest oil company and top oil exporter said at the Schlumberger Digital Forum 2022 in Switzerland today.
New York Attorney General Letitia James is set to make a *major announcement* at 10:30 am ET on Wednesday.
A panel of experts operating under the Department of Health and Human Services has recommended that all adults under the age of 65 should be screened for anxiety disorders, and all adults regardless of age should be checked for depression amid an uptick in American reporting mental-health issues following the Covid-19 pandemic.
Exactly two months ago we predicted that with the economy in shambles as a result of two years of MMT idiocy, inflation soaring, unemployment about to explode, markets crashing, Biden clueless what year it is, and so on, that "Democrats Prepare To Unleash Hell On Fed Chair Powell For The Coming Recession".
And moments ago the most outspoken Indian among the Democrats proved us right, when Lizzie Warren threw the first tomahawk at the Marriner Eccles building: "Chair Powell just announced another extreme interest rate hike while forecasting higher unemployment. I’ve been warning that Chair Powell’s Fed would throw millions of Americans out of work — and I fear he’s already on the path to doing so."
Federal Reserve rate hikes will add trillions to the national debt, according to an analysis by the Committee for a Responsible Federal Budget.
The Fed delivered another 75-basis point rate-hike during its September FOMC meeting this afternoon and made it clear that rates will be 'higher for longer' to fight persistently high inflation. According to the Committee for a Responsible Budget (CFRB), rate hikes will add another $2.1 trillion to the national debt over the next decade.
United Nations Secretary-General António Guterres gave a grim assessment of global developments on Tuesday, September 20th. Guterres said that we are looking at a fairly gloomy and dark upcoming “winter of global discontent” from rising prices, a warming planet, and deadly conflicts.
“Our world is in peril,” Guterres told the opening of the United Nation’s 193-member annual assembly in New York. “A winter of global discontent is on the horizon,” Guterres said according to a report by Euractiv.
According to the UN’s assessment, countries are “gridlocked in colossal global dysfunction” and are increasingly not ready or willing to tackle the major challenges. “Trust is crumbling, inequalities are exploding, our planet is burning. People are hurting – with the most vulnerable suffering the most,” he added, presenting the annual report on the work of the body. “The United Nations Charter and the ideals it represents are in jeopardy,” he said.
The UN claimed that cooperation and dialogue are the only paths forward, he warned that “no power or group alone can call the shots”. But we know what they mean is that the ruling classes and masters of the planet will call the shots, not the people being ruled over.
Thanks to Establishment media, the sorcerer apprentices advising President Joe Biden – I refer to Secretary of State Antony Blinken, national security adviser Jacob Sullivan, and China specialist Kurt Campbell – will have no trouble rallying Americans for the widest war in 77 years, starting in Ukraine, and maybe spreading to China. And, shockingly, under false pretenses.
Most Americans are oblivious to the reality that Western media are owned and operated by the same corporations that make massive profits by helping to stoke small wars and then peddling the necessary weapons. Corporate leaders, and Ivy-mantled elites, educated to believe in U.S. "exceptionalism," find the lucre and the luster too lucrative to be able to think straight. They deceive themselves into thinking that (a) the US cannot lose a war; (b) escalation can be calibrated and wider war can be limited to Europe; and (c) China can be expected to just sit on the sidelines. The attitude, consciously or unconsciously, "Not to worry. And, in any case, the lucre and luster are worth the risk."
The media also know they can always trot out died-in-the-wool Russophobes to "explain," for example, why the Russians are "almost genetically driven" to do evil (James Clapper, former National Intelligence Director and now hired savant on CNN); or Fiona Hill (former National Intelligence Officer for Russia), who insists "Putin wants to evict the United States from Europe … As he might put it: "Goodbye, America. Don’t let the door hit you on the way out."
On Tuesday night, a fire broke out at the BP-Husky Toledo refinery in Oregon, Ohio.
Pennsylvania Democrat US Senate candidate John Fetterman was asked if he would once again pull a shotgun on an unarmed black man jogging through his neighborhood.
Attorney Mike Davis trolled Andrew Weissmann and the corrupt actors in the Deep State while describing the corrupt DOJ’s unwinnable position in its Mar-a-Lago raid. Weissmann is the corrupt former DOJ employee behind the Russia collusion lie used as an attempt to remove President Trump from office,
As the trade war over Ukraine heats up, we should ask ourselves what costs and benefits come along with energy independence from Russia. Even if we accept current Western policy, the divestment campaign will not yield the desired political outcomes.
As episodic breezes of cooler air reach European shores, the continent’s inhabitants are reminded by the fact that winter is gradually but surely creeping up on them. Thus, Europeans are getting ready for a tough winter in the midst of the escalating trade conflict over Ukraine. But instead of prioritizing an uninterrupted and affordable flow of energy, the European Union has doubled down on its policy of rapidly divesting from Russian fossil fuels.
On February 24, the starting day of the Russian invasion of Ukraine, European Commission President Ursula von der Leyden announced “massive” sanctions beyond those already implemented after the Russian take-over of Crimea in 2014. But in the months since, as the West has placed itself firmly behind Ukraine, the European Union (EU) has gone much further than traditional sanctions.