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Fri, 05 Nov 2021
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Own goal: Shipping industry mulls ditching UK-flagged vessels for China after tit-for-tat seizures in Strait of Hormuz

boat tanker gun
© REUTERS / Iran, Mizan News Agency/WANA
Scores of tankers transit through the Strait of Hormuz each day, and shippers are looking for ways to safeguard the oil trade in the wake of tit-for-tat tanker detentions between Iran and the UK.

China may emerge as an unexpected beneficiary of the mounting tensions in the Persian Gulf, after Iran detained a British-flagged oil tanker in a key waterway for oil transit.

British maritime intelligence firm Dryad Global believes that the shipping industry "was not really prepared" for this situation, and that shipping companies are now starting to look for alternatives to using British-flagged vessels in the region.

"Normally it's the British-flagged, US-flagged and Saudi-interest vessels that are the most likely to be targeted," Philip Diacon, head of Dryad Global, told AFP news agency.

Diacon said most of his clients were now looking to register their ships under the flag of China, Iran's strategic ally. "We are starting to see talk of moving to Chinese-flagged vessels," he noted.

Over 18 million barrels of crude oil pass through the Strait of Hormuz each day - a third of all oil shipped by sea and a fifth of the world's supply - and won't stop, however volatile the political situation.

"Oil will continue to flow," Diacon highlighted. "The Iranians have no interests in disrupting other nations."

Comment: For Hunt and the rest of the British leadership, seizing tankers is only illegal when Iran does it. But acting as a lackey for the Americans has its downside. Too bad incompetents don't think ahead.


Light Sabers

Trump says he prefers Pakistani reporters in the Oval Office in latest attack on US media

trump
© Reuters / Jonathan Ernst
Donald Trump has taken another swipe at the US media, saying he's happy to see Pakistani reporters in the Oval Office because he "liked them much better" than the usual American press pool.

Prime Minister Imran Khan's visit to the White House apparently came with an added bonus for the US president: the presence of non-American journalists in the Oval Office - a break from the routine which Trump apparently very much enjoyed.

Sherlock

Ethics complaint filed against Rep. Ilhan Omar - accused of immigration, tax, student loan fraud

Ilhan Omar
© REUTERS/Carlos Barria
US Representative Ilhan Omar (D-Minnesota)
Following an extensive three-year investigation into Rep. Ilhan Omar by investigative journalist David Steinberg, a House ethics complaint has been filed by Judicial Watch calling for a probe into potential crimes committed by Omar and her brother.

According to the complaint, "Substantial, compelling and, to date, unrefuted evidence has been uncovered that Rep. Ilhan Omar may have committed the following crimes in violation of both federal law and Minnesota state law: perjury, immigration fraud, marriage fraud, state and federal tax fraud, and federal student loan fraud."


Chess

Iran poised to legalize cryptocurrency mining as potential path out of US sanctions trap

bitcoin
© Reuters / Dado Ruvic
Iran has moved to legalize the mining of bitcoin and other cryptocurrencies, recognizing the energy-consuming digital coin mining as a legitimate industry - and potentially a way around the US sanctions crippling its economy.

"A mechanism to mine digital coins was approved by the government's economic commission and will later be put to discussion at a cabinet meeting," said Central Bank of Iran (CBI) Governor Abdolnaser Hemmati on Sunday.

Government ministers are poised to vote on a plan to apply an exported electricity rate to crypto-mining "farms," according to Deputy Minister of Energy Homayun Haeri. While Iran has been dubbed a "heaven for miners" due to its ultra-cheap, subsidized electricity, the free ride is coming to an end.

Bad Guys

What goes around comes around: How Bob Mueller set his own personal booby-trap lying about Russia

mueller russiagate investigation
© Associated Press/Andrew Hardnik/File
Former FBI Director Robert Mueller, the special counsel probing Russian interference in the 2016 election, departs Capitol Hill following a closed door meeting in Washington.
Just how dead is the RussiaGate story — and how brain-dead are the House Democratic Committee chairmen, Nadler (Judiciary Committee) and Schiff (Intelligence Committee) to haul RussiaGate's front-man, Robert Mueller back into the spotlight where the next thing to roll over and die will be Mr. Mueller's evanescent reputation? The entrapment operation that was the Special Counsel's covert mission has turned out to be Mr. Mueller own personal booby-trap, prompting the question: is it possible that he's just not very bright?

Though Mr. Mueller's final report asserted that the Russian government interfered in "a sweeping and systemic fashion" to influence the 2016 election, the 450-page great tome contains zero evidence to support that claim, and the discrepancy was actually noticed by federal judge Dabney Friedrich who is presiding over the case against the alleged Russian Facebook trolls that was one of the two tent-poles in the RussiaGate fantasy. The case is now blowing up in Robert Mueller's face.

In early 2018, Mr. Mueller sold a DC grand jury on producing indictments against a Russian outfit called the Internet Research Agency and its parent company Concord Management, owned by Russian oligarch Yevgeny Prigozhin for the so-called election meddling. The indictment was celebrated as a huge coup at the time by the likes of CNN and The New York Times, styled as a silver bullet in the heart of the Trump presidency. But the indicted parties were all in Russia, and could not be extradited, and there was zero expectation that any actual trial would ever take place — leaving Mueller & Co. off-the-hook for proving their allegations.

To the great surprise of Mr. Mueller and his "team," Mr. Prigozhin hired some American lawyers to defend his company in court. Smooth move. It automatically triggered the discovery process, by which the accused is entitled to see the evidence that prosecutors hold. It turned out that Mr. Mueller's team had no evidence that the Russian government was involved with the Facebook pranks. This annoyed Judge Friedrich, who ordered Mr. Mueller and his lawyers to desist making public statements about Concord and IRA's alleged "sweeping and systemic" collusion with Russia, and threatened legal sanctions if they did.

Light Sabers

Huawei cuts jobs at US unit after trade clampdown

huawei
© GETTY IMAGES
Huawei has cut more than 600 jobs at its US research unit Futurewei after Washington put the Chinese firm on a trade blacklist. The telecoms giant said the job cuts were due to "the curtailment of business operations caused by the US".

Washington added Huawei to its "entity list" in May which restricts its ability to trade with US firms. Tensions between the US and China over trade and Huawei have escalated this year.

Based in California, Futurewei is a research and development subsidiary of Huawei.

In a statement, Huawei said "Futurewei Technologies announces a reduction in force, directly impacting over 600 US positions," effective 22 July.

Dollar

Indian gov't panel seeks total ban on private cryptocurrencies, up to 10 years in jail for abusers

bitcoin
© Reuters / Tyrone Siu
A total ban on private cryptocurrencies has been approved by a government panel in India which also recommended a 10-year prison sentence for anyone dealing with unregulated digital assets.

After nearly two years of work, the inter-ministerial committee (IMC), chaired by the economic affairs secretary, has submitted its final report to the government, together with draft legislation seeking to ban crypto trading in the country. It also recommended setting up a 'Digital Rupee' that would be issued by the Reserve Bank as legal tender.
The Committee has recommended a law banning the cryptocurrencies in India and criminalizing carrying on of any activities connected with cryptocurrencies in India.
Highlighting their "serious concern" over the growing popularity of alternative digital payment systems that completely lack government oversight, the IMC stressed that privately generated cryptocurrencies "lack all the attributes of a currency," carry no "intrinsic value" and therefore can be detrimental to India's economy.

Bad Guys

Obama State Department implicated in advancing Russiagate hoax in newly obtained 2016 documents

Obama Hillary Clinton
© PAUL J. RICHARDS/AFP/GettyImages
The Obama State Department was central to the effort to target President Trump with the Russia smear. Judicial Watch has obtained new emails showing that senior Obama State Department officials advanced the Russiagate hoax just before the 2016 presidential election.

With The Daily Caller News Foundation, Judicial Watch has released 84 pages of documents, including a September 2016 email exchange between then-Assistant Secretary of State Victoria Nuland and Special Coordinator for Libya Jonathan Winer, a close associate of dossier author Christopher Steele, discussing a "face-to-face" meeting on a "Russian matter."

(In June 2016 Nuland permitted a meeting between Steele and the FBI's legal attaché in Rome. Nuland told CBS News that the State Department knew about the Steele dossier by July 2016.)

Георгиевская ленточка

Russia under Putin's guidance : What is it that doesn't satisfy you, comrade communists?

putin
© Kremlin.ru
So what is it that Putin has done that doesn't satisfy you, comrade communists?

Recently our resident (users of the "Cont" website) "communists" who are furiously criticising Putin again became more active. For what? Well, for anything, Putin doesn't please our red-bellied guys, and that's all.

Perhaps it is necessary for these faultfinders to see Putin furiously shaking his fists and threatening the whole world with an "atomic bludgeon"; to see in Putin the "double of comrade Kim", threatening the US with his missiles? Or the "double of Trump", who doesn't shun to launch missiles at a sovereign and independent country?

Putin is not as they want to see him.

Comment: Let it be remembered that Putin has gathered an intelligent team of advisors around him who share the same love of Mother Russia. They are tasked with telling him the truth about Russia's issues and giving their unvarnished advice. Only those who see reality as it is are able to function effectively. Russia is a shining example.


Hardhat

China's business growth set to exceed US's

Workers inspect pipelines at a natural gas facility run by Sinopec in Dazhou, Sichuan province, China
© Stringer/Reuters
Workers inspect pipelines at a natural gas facility run by Sinopec in Dazhou, Sichuan province, China
China has now reached parity with the U.S. on the 2019 Fortune Global 500 — a signifier of the profound rivalries reshaping business today.

As the Chinese Century nears its third decade, Fortune's Global 500 shows how profoundly the world's balance of power is shifting. American companies account for 121 of the world's largest corporations by revenue. Chinese companies account for 129 (including 10 Taiwanese companies). For the first time since the debut of the Global 500 in 1990, and arguably for the first time since World War II, a nation other than the U.S. is at the top of the ranks of global big business.

That shift is transforming not just the business world but the whole world. As China seeks to succeed the U.S. as the preeminent superpower, business is playing an even larger role in international affairs than usual. Nations have always competed economically, but the U.S. and China are engaged in direct battle over the world's economic life force: technology. As former Treasury Secretary Henry Paulson has written, "The battle is about whose economy will drive the technology of the future and set the standards for it." For an example of corporate China pushing technology's frontiers, see our story on insurance giant Ping An.