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Thu, 21 Oct 2021
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Oil Well

Oil producers agree to largest production cut in history following Trump's intervention

trump oil
© Reuters / Tom Brenner and Nick Oxford
Global oil producers have already agreed on the world's largest ever production cut, but US President Donald Trump has said that cut may soon be doubled, to bring the world "back to business" from the coronavirus pandemic.

The Organization of Petroleum Exporting States (OPEC) and producers outside the bloc agreed on Sunday to cut their output for May and June by 9.7 million barrels per day (bpd), an amount equal to ten percent of the world's oil supply and the largest such cut in history.

"Having been involved in the negotiation," Trump tweeted on Monday, "the number that OPEC+ is looking to cut is 20 Million Barrels a day, not the 10 Million that is generally being reported."

Bizarro Earth

Yemeni forces repel several Saudi attacks amidst claims of a 'truce'

Yahya

Brigadier General Yahya Saree
The Spokesman for the Yemeni Armed Forces Brigadier General Yahya Saree said the Arab country's troops repelled several Saudi assaults on Bayda province amid claims by the Saudi-led coalition that it has halted aggression on Yemen due to the outbreak of the coronavirus. Saudi-backed mercenaries on Monday morning attempted to infiltrate into Nati' region in Bayda province several times but were pushed back by the Yemeni troops, Saree said, according to Yemen's al-Masirah TV network.

He added that Saudi warplanes had also conducted at least 15 strikes against civilian areas in the provinces of Ma'rib, Jawf, and Bayda in the past hours.

The multiple land and aerial assaults come a few days after the Saudi-led coalition claimed it was halting military operations in Yemen in support of UN efforts to end the five-year war and avoid the outbreak of the coronavirus in war-wracked Yemen.

Calculator

Economic guru Kudrin warns Russia's unemployment could TREBLE, but Kremlin says talk of return to 1990s chaos "hysterical"

russia
© Sputnik / Maxim Blinov
Perhaps nobody in Russia is more responsible for the country's fiscal stability than Alexei Kudrin.

As Finance Minister, he paid off most of the national debt and built financial stabilization funds that have twice helped avoid financial ruin.

While Russia is better prepared for the inevitable Covid-19-driven economic recession than most of its G20 peers, Kudrin still believes the level of unemployment in Russia could treble before the end of the year, reaching eight million. While far from the 20 percent JP Morgan predicts for the United States, an 11 percent rate would put considerable pressure on the Russian social contract, especially given the low value of social welfare payments. It would also mark the highest annual figure of the Putin era, which has been associated with near-full employment.

This has led some to fear a return to the sort of social problems that plagued the 1990s. However, on Monday morning, Kremlin spokesman Dmitry Peskov dismissed these concerns as "hysterical."

Bullseye

AG Barr on Bill Gates wanting 'digital' vaccine 'certificates': I'm 'very concerned about' slippery slope

william barr
© Michael Brochstein/SOPA Images/LightRocket via Getty Images
Attorney General William Barr told Fox News' Laura Ingraham on Wednesday night that he was "very concerned" about billionaire Bill Gates' apparent desire to have "digital certificates" to show if people have been vaccinated against viruses.

"Bill Gates, the Gates Foundation are in favor of developing digital certificates that would certify that individuals, American citizens, have an immunity to this virus and potentially other viruses going forward to then facilitate travel and work and so forth," Ingraham said. "What are your thoughts from a civil libertarian point of view about these types of - what some would say tracking mechanisms that would be adopted going forward to reopen our broader economy?"

"Yeah, I'm very concerned about the slippery slope in terms of continuing encroachments on personal liberty," Barr responded. "I do think during the emergency, appropriate, reasonable steps are fine."

Bizarro Earth

It takes a total system failure to spawn a new economy

fractal
© Fractal Illustration/AFP
Is the world on a collision course with the financial and economic equivalent of a meteor impact with shock wave?
Covid-19 driven collapse of global supply chains, demand and mobility will painfully spawn next great tech-led economic models

Nobody, anywhere, could have predicted what we are now witnessing: in a matter of only a few weeks the accumulated collapse of global supply chains, aggregate demand, consumption, investment, exports, mobility.


Comment: Wait a minute! Somebody thought it up. Somebody did the homework. Somebody made the plan. Somebody gave the command to betray the past and destroy the present to lock down and control the future. It doesn't just happen.


Nobody is betting on an L-shaped recovery anymore - not to mention a V-shaped one. Any projection of global gross domestic product (GDP) in 2020 gets into falling-off-a-cliff territory.

In industrialized economies, where roughly 70% of the workforce is in services, countless businesses in myriad industries will fail in a rolling financial collapse that will eclipse the Great Depression.

Comment: This trial-crisis was engineered. It forebodes an inevitable, irreversible lockdown of humanity calculated to concur with earth changes, food shortages and cosmic events. 'Plan' on it.


Star of David

Israeli High Court exposes its Palestinian playbook: Approves corona 'dystopia' measures in Bnei Brak

Bnei Brak
© Twitter, Eli Dror
Lockdown in Bnei Brak ahead of Passover
On April 2, the Israeli government decided to impose an almost total closure on the Ultra-Orthodox city of Bnei Brak, because of the Coronavirus, with extreme restrictions not applied on other parts of the state. The restrictions include prohibiting the entering and exiting of the city, which is home to 185,000 people, except for limited urgent needs after getting a written approval, like medical treatment not available in its boundaries.

The closure imposed on city of Bnei Brak isn't unique in the worldwide response to the Coronavirus, and also not even close to the limitations on freedom of movement and blockades that Palestinians living in the West Bank or the Gaza are experiencing on a daily base. What is interesting in the story of of Bnei Brak, is how easily the Israeli High Court of Justice (Bagatz) approved its closure, despite the belief in many western capitals that Bagatz is a reliable institution that could be trusted to keep the Israeli government in check.

The aerial distance between Bnei Brak and Tel Aviv is only six kilometers, but these are two different planets. While Tel Aviv is a rich, secular and cosmopolitan city, Bnei Brak is an ultra-Orthodox city whose population is among the densest and poorest in the State of Israel.

Comment: A 'made to order' vehicle for Netanyahu, coronavirus lockdown has rendered all protest and petition useless - offering Israel an open season to oppress and/or eliminate undesirable populations, always Palestinians and now Orthodox Jews.


Propaganda

New York Times remembers to be journalistically skeptical only when Biden is in the crosshairs

KavanaughBiden
© Reuters/Mike Blake, Michael Reynolds
Brett Kavanaugh • Joe Biden
For anyone running for office in modern America, accusations of sexual assault are par for the course. But when it comes to weighing up these accusations, the US' mainstream paper of record applies some very uneven standards.

Take Joe Biden, the Democratic Party's presumptive nominee. If doubts weren't already raised by his fondness for sniffing women, the emergence last month of a sexual assault allegation against the former vice president could have caused a major headache for his campaign.

Yet amid the coronavirus pandemic, and given the political leanings of most media outlets, the scandal barely registered.

Comment: See also:
Even media's loudest #MeToo champs are ignoring Biden sexual assault accuser Tara Reade


Oil Well

Last minute deal: OPEC+ agrees to cut 9.7M barrels a day oil production

blackglobe
© Getty Images/Deiter Spannknebel
After four days of marathon talks, major global oil producers have finally inked an agreement to slash oil output by 9.7 million barrels per day (bpd), in a bid to boost the energy market amid the coronavirus pandemic.

The members of the Organization of the Petroleum Exporting Countries and other oil-producing states outside of the cartel, known as OPEC+, reached the deal to cut their output for May and June, Kuwait's Oil Minister Khaled Al-Fadhel announced on Twitter.
The cuts will protect oil producers from falling prices, triggered both by de-facto OPEC head Saudi Arabia flooding global markets with oil, and by falling demand amid the coronavirus pandemic.

Comment: The art of the deal?
The agreement brings to an end a price war that had been raging between Russia and Saudi Arabia, after the latter pulled out of a previous agreement last month and ramped up production. Russian President Vladimir Putin accused the Saudi kingdom of driving prices down to force competing shale oil producers, including the US and Russia, out of business.

A growth in shale oil extraction has seen the US become the world's largest crude oil producer in recent years. However, American firms need an oil price of around $40 to turn a profit. Trump repeatedly pressed his Saudi Allies to cut a deal with Russia and limit production.

The fall in prices, however, presented Trump with a convenient opportunity to top up the US' national oil reserves. As the market tumbled last month, Trump announced at a press conference that he had ordered US energy officials to buy the dip and "fill it right up to the top."



Syringe

Robert F Kennedy Jr. exposes Bill Gates' vaccine agenda in scathing report

gates_fauci
Authored by Robert F. Kennedy Jr., Chairman, Children's Health Defense,

Vaccines, for Bill Gates, are a strategic philanthropy that feed his many vaccine-related businesses (including Microsoft's ambition to control a global vaccination ID enterprise) and give him dictatorial control of global health policy.

Gates' obsession with vaccines seems to be fueled by a conviction to save the world with technology.

Promising his share of $450 million of $1.2 billion to eradicate Polio, Gates took control of India's National Technical Advisory Group on Immunization (NTAGI) which mandated up to 50 doses (Table 1) of polio vaccines through overlapping immunization programs to children before the age of five. Indian doctors blame the Gates campaign for a devastating non-polio acute flaccid paralysis (NPAFP) epidemic that paralyzed 490,000 children beyond expected rates between 2000 and 2017. In 2017, the Indian government dialed back Gates' vaccine regimen and asked Gates and his vaccine policies to leave India. NPAFP rates dropped precipitously.

In 2017, the World Health Organization (WHO) reluctantly admitted that the global explosion in polio is predominantly vaccine strain. The most frightening epidemics in Congo, Afghanistan, and the Philippines, are all linked to vaccines. In fact, by 2018, 70% of global polio cases were vaccine strain.

Pirates

Clinton Foundation CFO to financial investigators: "I know where all the bodies are buried"

Hillary Clinton Clinton Foundation
The two key financial investigators who testified in Congress, detailing billions of dollars and decades of illicit activities by the Clinton Foundation, dropped a Twitter bomb on Friday morning.

Larry Doyle, who testified alongside former DOJ boss and partner John Moynihan, said the CFO of the Clinton Foundation admitted to the duo during a Nov. 30, 2016 meeting: "I know where all the bodies are buried."

Comment: Things have been bubbling quietly under the surface with respect to the corrupt Clinton Foundation since 2017. It seems this part of the Clinton crime spree is about to come to prominence again. Some background on CFO for the Clinton Foundation, Andrew Kessel