Puppet MastersS


Wall Street

What has Quantitative Easing wrought?

Ron Paul
The Great Recession began in 2007. It didn't take long for the money managers to recognize its severity, and that a little tinkering with interest rates would not suffice in dealing with the economic downturn. In Dec. 2008, the first of four Quantitative Easing programs began which did not end until Dec. 18, 2013. Some very serious consequences of this policy of unprecedented credit creation have set the stage for a major monetary reform of the fiat dollar system. The dollar's status as the reserve currency of the world will continue to be undermined. This is not a minor matter. As our financial system unravels, the seriousness of it will become evident to all, as the need to pay for our extravagance becomes obvious. This will make the country much poorer, though the elite class that manages such affairs will suffer the least.

By the time the QEs ended, the Central banks of the world had increased their balance sheet by $8.3 trillion, with only $2.1 trillion worth of GDP growth to show for it. This left $6.2 trillion of excess liquidity in the banking system that did not go where the economic planners had hoped. Central banks now own $9.7 trillion of negative interest yielding bonds. The financial system has been left with a bubble mania, financed by artificial credit and unsustainable debt. The national debt in 2007 was $8.9 trillion; today it's $20.5 trillion. Rising interest rates will come and that will be deadly for the economy and the Federal budget.

Book 2

Book Review: Announcing the Death of Classical Liberalism

Patrick Deneen's new book, out today, plays mortician for one of America's most popular ideologies.
John Locke
© Giorgios Kollidas / Shutterstock.comProto-liberal John Locke.
Notre Dame professor Patrick Deneen has written a book vitally important for understanding the present crisis in Western politics. If this work had appeared two or three years ago, it still would have been of great significance, but coming as it does in the wake of Brexit, Trump, and other shocks to the liberal consensus, its relevance is further enhanced.

But a warning is in order: American conservatives may be cheered by the appearance of a book entitled "Why Liberalism Failed." But, in the sense in which Deneen is using "liberalism," most American conservatives are actually liberals. Deneen's use is in fact the one common among political theorists, many of whom argue that America does not have a conservative and a liberal party. Rather, it has a right-liberal party, focused on free markets and free trade, and a left-liberal party, focused on social issues. The United States, according to this view, has never had a "church and throne" conservative party such as those seen in many European countries.

War Whore

The FBI's hand behind #Russiagate

trump clint election debate
© C-SPANDonald Trump and Hillary Clinton in the third presidential debate in 2016, during which Clinton called Trump Vladimir Putin's "puppet."
In the Watergate era, liberals warned about U.S. intelligence agencies manipulating U.S. politics, but now Trump-hatred has blinded many of them to this danger becoming real.

Russia-gate is becoming FBI-gate, thanks to the official release of unguarded text messages between loose-lipped FBI counterintelligence official Peter Strzok and his garrulous girlfriend, FBI lawyer Lisa Page.

Despite his former job as chief of the FBI's counterintelligence section, Strzok had the naive notion that texting on FBI phones could not be traced. Strzok must have slept through "Security 101." Or perhaps he was busy texting during that class. Girlfriend Page cannot be happy at being misled by his assurance that using office phones would be a secure way to conduct their affair(s).

It would have been unfortunate enough for Strzok and Page to have their adolescent-sounding texts merely exposed, revealing the reckless abandon of star-crossed lovers hiding (they thought) secrets from cuckolded spouses, office colleagues, and the rest of us. However, for the never-Trump plotters in the FBI, the official release of just a fraction (375) of almost 10,000 messages does incalculably more damage than that.

Folder

Jeff Sessions blocks efforts to end debtors' prisons

Jeff Sessions
© SAUL LOEB/GettyAttorney General Jeff Sessions las week abandoned the Justice Department's effort to ed debtors' prisons.
Last week, Attorney General Jeff Sessions retracted an Obama-era guidance to state courts that was meant to end debtors' prisons, where people who are too poor to pay fines are sent. This practice is blatantly unconstitutional, and the guidance had helped jump-start reform around the country. Its withdrawal is the latest sign that the federal government is retreating from protecting civil rights for the most vulnerable among us.

The Justice Department helped shine a light on the harms of fine and fees when it investigated Ferguson, Mo., three years ago after the killing of the teenager Michael Brown by a police officer. As one of the lawyers on that case, I saw firsthand the damage that the city had wrought on its black community.

Ferguson used its criminal justice system as a for-profit enterprise, extracting millions from its poorest citizens. Internal emails revealed the head of finance directing policing strategy to maximize revenue rather than ensure public safety. Officers told us they were pressured to issue as many tickets as possible.

Even the local judge was in on it, imposing penalties of $302 for jaywalking and $531 for allowing weeds to grow in one's yard. He issued arrest warrants for residents who fell behind on payments - including a 67-year-old woman who had been fined for a trash-removal violation - without inquiring whether they even had the ability to pay the exorbitant amounts. The arrests resulted in new charges, more fees and the suspension of driver's licenses. These burdens fell disproportionately on African-Americans.

Map

Coincidence? As US global influence recedes, secession demands grow

Catalonia Independence protesters
One of the more welcomed outcomes of the paring back of the US State Department bureaucracy is the elimination of scores of "status quo enthusiasts." Since the end of World War II, the State Department's ranks have been populated by foreign service officers and career diplomats who have championed the international status quo. These minions of Foggy Bottom received encouragement for their protective stance on post-World War II and Cold War in President George H. W. Bush's speech on September 11, 1990, which was titled, "Toward a New World Order." Under the "new world order," regional and global security concerns would supplant democratic independence movements. The immediate effect of this "order" was brutal crackdowns on secession in the periphery of the former Soviet Union, including Abkhazia, South Ossetia, Nagorno-Karabakh, Transnistria, as well as in Somalia, the Kurdish regions of Iraq and Turkey, Sudan, and Ethiopia. However, in Yugoslavia, which the United States and European Union wanted to see dissolved, secessionists in seven constituent states were encouraged to secede from the federation. That resulted in the bloodiest military conflicts in Europe since World War II.

Leaders of secessionist groups visiting Washington were traditionally shunned by the State Department. These hapless would-be presidents and prime ministers would be lucky to meet with a low-ranking State Department employee. However, if their independence movements were championed by the Central Intelligence Agency, they would get red carpet treatment. Such was the case with Secretary of State Madeleine Albright's favorite Balkans "toy boy," Hashim Thaci, the leader of the terrorist Kosovo Liberation Army and now President of the Republic of Kosovo, which was carved out of Serbia but is still unrecognized by many of the world's most important nations, including China and Russia.

Passport

The real story about DACA

trump congress daca
Trump meets with several US Senators to work out DACA agreement.
Trump's efforts for immigration reform seek to filter out "bad" migrants, catching resistance from liberal opponents

The January 11, 2018 meeting with several US Senators has been reported in many media outlets, including our own for the reported swearing and profanity the President used in the meeting. However, the real matter is what the meeting is about is quite important, and it is important to understand the direction the US President wishes to take on immigration policy going forward.

The White House's own website lays the the idea out very clearly. I have boldened some of it for emphasis:
The United States must adopt an immigration system that serves the national interest. To restore the rule of law and secure our border, President Trump is committed to constructing a border wall and ensuring the swift removal of unlawful entrants. To protect American workers, the President supports ending chain migration, eliminating the Visa Lottery, and moving the country to a merit-based entry system. These reforms will advance the safety and prosperity of all Americans while helping new citizens assimilate and flourish.

Chess

Assange sends Twitter into frenzy of speculation over chessboard

Julian Assange
© Peter Nicholls / Reuters
Julian Assange has once again sent Twitter into a frenzy of speculation with another cryptic tweet - this time posting an image of a famous chess strategy, prompting suggestions the whistleblower is preparing 'checkmate'.

The chessboard tweeted by Assange, unaccompanied by any text, shows a move from the Capablanca vs Marshall chess game of 1918 - considered one of the greatest defensive games of all time.


Footprints

Nigel Farage: 'Maybe' there should be a second referendum on EU membership

Nigel Farage
Nigel Farage
The ex-Ukip leader said 'my mind is actually changing on this'

Nigel Farage has said it may be time to hold a second referendum on Brexit to put an end to the "moaning" of politicians who have not accepted the previous vote.

The ex-Ukip leader argued that leading political figures who have been arguing against Brexit would "never, ever, ever" stop fighting it and so the best way to draw a line under the issue could be a second public vote.

Mr Farage is seen as one of the architects of Brexit and has been the most vociferous critic of people like ex-prime minister Tony Blair and Lord Adonis who have suggested it could be undone.

Speaking on Channel 5's The Wright Stuff, Mr Farage said: "What is for certain is that the Cleggs, the Blairs, the Adonises will never, ever-ever give up.

Comment:


Blackbox

Is Trump's Afghan policy aimed at Taliban or at China?

US soldier waving US flag over Afghanistan
In recent months the US President has reversed yet another campaign pledge to pull out of Afghanistan, America's longest war, and instead has begun to deploy an added 3,000 troops there. At the same time he has lashed out at the government of Pakistan accusing it of aiding the Afghan Taliban and pledging to cut all US military aid to that country as reprisal. A deeper view into the situation suggests that both moves are linked and have to do with not the Taliban and the Afghan terrorists. It has very much to do with ongoing developments of peaceful construction of the Chinese-led Belt, Road Initiative and desperate attempts of Washington to try to stop those developments using other pretexts.

In June 2017 after intense discussions with his military Trump authorized an added up to 4,000 US soldiers ostensibly to further train an Afghan military in dealing with an increasingly successful Taliban force. By December the Pentagon was engaged in a massive air campaign it said was aimed at destroying the Taliban drug labs.


Comment: And now sending in more troops and equipment: 'Fighting season': Pentagon to send '1,000 new troops and drones' to Afghanistan


Arguing that the Pakistan ISI intelligence service was complicit in giving Taliban, the CIA-trained and al Qaeda-associated Haqqani and other terrorist groups sanctuary across the border, Trump then froze military aid to Pakistan. It is allegedly to force Pakistan's military and intelligence to cut support for the Taliban and other Islamist groups. In one of his infamous tweets, the US President wrote, "The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing but lies & deceit, thinking of our leaders as fools...They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!"

Eye 2

Denmark's intel agency keeps terror threat level at 'serious', fears western trained terrorists returning home to country

Denmark faces ‘serious’ terrorism risk – Security & Intelligence agency
© FILE PHOTO Scanpix Denmark / Reuters
The terrorist threat in Denmark remains "serious," with some jihadists who left Europe to join Islamic State now returning and possibly planning attacks at home, the Danish Security and Intelligence Service (PET) said in a report.

Military action against Islamic State (IS, formerly ISIS) in Syria and Iraq has reduced the terrorist group's capacity, PET said. Nevertheless, people in the West are being asked to commit terrorist attacks; at least 150 Danish nationals have joined IS since 2012, according to the report.