Soner Cagaptay – Zionist Israeli Puppet?

Russian President Vladimir Putin visits Turkey

Friends again – that’s diplomacy

The headline on Time‘s news feed read: Political Scientist: How President Erdogan Is Turning Turkey into Putin’s Russia”.

Well, that’s a pretty strange claim for a number of reasons, but I live in Turkey, and if anyone is magically turning it into Russia, I want to know about it – so I took a look.

The “political scientist” writer is a Turkish guy, long-term resident in the United States, called Soner Cagaptay. That’s an unfortunate name for a start. He must experience a lot of problems with monolingual, monocultural Americans who struggle to pronounce English words – and have no interest at all in familiarising themselves with the marvellously phonetic Turkish alphabet. For your information, “Soner” doesn’t rhyme with “boner”, and his surname should be pronounced “Charp-tie”.

zionist puppetBut that’s his problem – or one of his problems. Another big problem for Mr Cagaptay must be reconciling his academic integrity with the political agenda of his paymasters. After all, his CV claims a PhD from Yale, and teaching posts at Princeton and other top universities in the USA. I assume you don’t scale those heights by churning out sensationalist propaganda based on unsupported assertions. “Political scientist” may be one of his jobs – but I suspect a good chunk of his income derives from the fat wallets of bankers and industrial tycoons with major interests in controlling the Middle East for their own profit.

So what does this guy have to say about Turkey?

He starts by claiming the country is profoundly polarised, governed by a right-wing regime funded by resources far outweighing those devoted to opposing him.

WRONG.These days, despite the tireless efforts of anti-Erdoğan forces, Turkey is less polarised than it ever was. One of the larger opposition parties has thrown its weight behind Mr Erdoğan’s campaign for re-election. If “left” and “right” have any political meaning, surely “left” means taking a serious interest in the plight of society’s poorer members – in which case Turkey’s AK Party government is more “left” than any in earlier decades. Furthermore, it is clear that significant resources are being channelled by forces outside Turkey to getting rid of the country’s popular president.

Cagaptay goes on to speak of Mr Erdoğan’s “surging authoritarianism”, which he attributes to the president’s desire for “the country’s educated and creative elites to pack their bags and leave.” “Erdogan,“he says, “knows that an opposition led by powerful elites poses a permanent threat to him.”

WRONG AGAIN. What Mr Erdoğan surely knows is that for twenty years well-educated types and liberal urban professionals” have been bleating and complaining about everything he has done for the country, without showing any ability to organise themselves into an opposition capable of achieving victory at the ballot box. Most of them would love to return to the good old days when military coups were staged regularly to overthrow democratically elected governments and restore power to those “elites”.

rich-cat-with-food-scotch3

What a terrible country! I need to get out now!

Many distinguished professors are said to be leaving the country, and their students are flocking away to Oxford University in “alarming”numbers. Among these are “many old-money Turks who espouse liberal values”. According to Cagaptay, in one of the few statistics he actually provides (though no source is given), in 2016 “Turkey was among the top five countries globally to experience the highest outflow of millionaires.”

Some truth here, perhaps. Certainly the biggest complainers I meet in Turkey are people living in nice houses, driving late-model cars, with well-paying jobs or private incomes – in short, people who you would think would be grateful for a government that has, Cagaptay admits, “made strides towards that goal [of making Turkey great again],by delivering economic growth. When he came to power in 2003, Turkey was country of mostly poor people. Now it is a country of mostly middle-income citizens.”In 2001, before the AK Party came to power, Turkey was, in fact, a country of millionaires, because it cost a million Turkish Lira to buy a newspaper or get on a city bus.

turkey economyBut those, I’m sure, are the real reasons Cagaptay and his money-masters oppose Recep Tayyip Erdoğan’s government so rabidly. They don’t want to see genuinely populist governments succeeding in their aim of creating a more egalitarian society. Why did the United States government oppose Fidel Castro’s Cuba for 50 years with such determined ferocity? Why have they repeatedly used military and economic power to overthrow elected socialist governments in Central and South America? Why did they use the CIA to overthrow Iran’s democratically elected Prime Minister in 1952? Why did they support the dictatorship of Egypt’s Hosni Mubarak for 30 years? Then support the ousting of Mohammed Morsi, elected democratically after Egypt’s Arab Spring?

The real goal of Cagaptay’s financial backers becomes clear in his closing paragraphs: “They want to transform Turkey from an economy that exports cars [and other real things] into one that is a hub for software, IT, finance, and services — in other words an information-based economy and a star power.” There you have it. An economy like the USA, the United Kingdom, New Zealand and other “First World” states where money rules, the country is governed by a wealthy elite with no patriotic loyalty, who have exported offshore their manufacturing sector, created systemic unemployment and keep most of their fellow citizens struggling to survive in a condition little removed from slavery.

How do I know this? Soner Cagaptay’s ubiquitous CV proudly boasts that he is the Beyer Family fellow and director of the Turkish Research Program at The Washington Institute for Near East Policy. ”So I took a look at their website. Now I want you to know that I am as liberalminded as the next guy. I have very few prejudices and I have never been anti-Semitic. I know, and have known some very nice members of the international Jewish community. Nevertheless, I couldn’t help noticing a striking feature of the WINEP’s Directors. Check the surnames: Kassen, Berkowwitz, Weinberg, Leventhal, Adler, Bernstein, Freidman . . . to cite just a few.

Well, that’s no big deal, you say – and maybe not. But I checked out some of the owners of those names:

President Shelly Kassen– chaired the religious school committee at The Conservative Synagogue, very active in the America Israel Public Affairs Committee, recipient of the United Jewish Appeal/Federation Community Service Award in 2007.

Her husband of 30 years, Michael Kassen, former president of the American Israel Public affairs Committee, America’s pro-Israel lobby; has always been involved in the Jewish community, since his childhood in Cleveland, where his parents were active in the local Jewish federation. The couple has always been involved in a Jewish federation, first in Boston and currently in New York and Westport. Check out this speech if you want to know his politics.

Chairman Martin Gross– president of Sandalwood Securities, Inc. of Roseland, New Jersey, which he founded in 1990. Gross began in fund management in 1983. Previously, Gross “practiced tax and corporate law in New York City, and worked in the corporate finance department of L.F. Rothschild, Unterberg, Towbin[1]. A member of the New Jersey and New York Bars, he has written numerous articles for The Wall Street Journal, Barron’s and other financial publications and often lectures at industry (what industry?)conferences.

Chairman Emeritus Howard P. Berkowitz – Chief Executive Officer and Managing Director at HPB Management LLC. Mr. Berkowitz was the Managing General Partner at Hpb Associates Lp since 1980 which he also founded. He has managed investment funds since 1967, when he was a Founding Partner at Steinhardt, Fine, Berkowitz & Company. He served as Managing Director of BlackRock, Inc. BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager.

Founding President and Chairman Emeritus Barbi Weinberg – Past vice-president of AIPAC, major contributor to the World Alliance for Israel Political Action Committee and the Women’s Pro-Israel National Political Action Committee.

Well, maybe Mr Cagaptay believe all the stuff he spouts about Turkey – but I have my doubts. Four short years ago, he was saying this about Turkey’s attitude towards a possible Kurdistan on its southern border: “The takeover of Mosul by the Islamic State of Iraq and Syria (ISIS) has cemented the rapprochement between Turkey and the region’s Kurds, casting them as best friends in the increasingly unstable Middle East. The relationship has improved so much that if the Kurds in Iraq were to declare independence, Turkey would be the first country to recognize Kurdistan.” I wonder what he is saying now, after Turkey criticised the US government for supplying weapons to its Kurdish “allies” in Syria, and has been carrying out a military operation to drive them out of the area.

democracyOur learned “political scientist” also boasts that he has provided private briefings about Turkey to such champions of democracy and world peace as US Vice President Joe Biden, Presidential Envoy in Syria, Brett McGurk, former US Ambassador to Ankara, John Bass (currently, I believe, in exile in Afghanistan), former Secretary of State, Hillary Rodham Clinton . . .

President Erdoğan is “turning Turkey into Putin’s Russia”? What does that even mean? One thing Mr Erdoğan does have in common with the Russian President is a total belief in the sovereign right of his own people to govern themselves free from outside interference. I only wish the leaders of my own country, New Zealand, had as much strength of character.

To end this piece, I want to share with you a delightful little clip I came across on Youtube: Vladimir Putin performing in public his own interpretation of Fats Domino’s great song, Blueberry Hill.

https://www.youtube.com/watch?v=IV4IjHz2yIo

That guy went way up in my estimation!

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[1] known for its merchant banking investments, particularly in high-technology companies. In the early 1980s, the firm emerged as the leading underwriter of initial public offerings, surpassing the elite investment banks (at the time, including Lehman Brothers, Goldman Sachs and Morgan Stanley).

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More thoughts about transparency and corruption

transparency

Sounds good, doesn’t it?

Once again, I have cause to be proud of my homeland. New Zealand has finally overtaken Denmark to win the title of least corrupt country in the world, according to the organisation Transparency International.

Of course, I was keen to check out the full list of 180, and I have to tell you, I found some surprises. There was a certain predictability about the bottom placings: Iraq and Venezuela tied at 169, North Korea and Libya at 171, Yemen, Afghanistan and Syria ranking 175th, 177th and 178th respectively – which may be a true reflection of life in those countries, or a clear message that it doesn’t pay to rile up Uncle Sam. But I’m not here to debate that point.

Zimbabwe has risen to 157th=, after its armed forces staged a coup to overthrow dictator of 37 years, Robert Mugabe last year. Despite the country’s vast mineral wealth, including gold, diamonds and chromite, 80% of the population falls below the poverty line. Zimbabwe holds the world record for annual inflation, achieving the staggering rate of 89.7 sextillion percent in 2008 (I didn’t know there was such a number – but I learned that it’s 1 followed by 21 zeroes!), although the economic wizards in the military junta have reportedly reduced that to a relatively respectable 348%. So they must be pleased to find themselves climbing up the rankings.

Russia, on the other hand, won’t be proud of their placing at 135, especially since that puts them five spots behind Myanmar, currently making headlines around the world for ethnically cleansing their Muslim Rohingya citizens.

myanmar genocide

At least they’re open about it

“The U.N. special envoy on human rights in Myanmar said Thursday that the Myanmar military’s violent operations against Rohingya Muslims bear “the hallmarks of a genocide.” Nearly 700,000 Rohingya have fled their villages into Bangladesh since the Myanmar military’s crackdown following Aug. 25 attacks by Rohingya insurgents.” But I guess they’re being quite open about what they’re doing, so it doesn’t really count as corruption.

It’s not surprising, then, that the Maldive Islands, playground of the world’s glitterati, managed a ranking of 112, despite the ongoing state of emergency imposed by President Abdulla Yameen

“Yameen had cited threats to national security after the Supreme Court overturned criminal convictions against nine of his opponents and ordered their release.

He sent the army to storm the Supreme Court building and arrest the island nation’s chief justice and another judge on the top court’s bench. His estranged half-brother, former President Maumoon Abdul Gayoom, who has sided with the opposition, was also arrested. The three remaining judges on the Supreme Court then reversed part of their verdict on the release of Yameen’s opponents.”

At least Turkey managed to beat that lot – though President Erdoğan may feel his country deserves to be a little higher than 81st on the list; especially since China slotted in at 77, and South Africa at 71. Cape Town, as you may know, is currently getting unfavourable publicity, poised to become the first major world city to run out of water – although the crisis seems to be less of a problem for citizens with money.

Cuba was a surprise for me, coming in at 62, and Cyprus managed a commendable 42, my favourite number – though of course that’s “Greek” Cyprus, and needless to say, the Turkish enclave didn’t get a mention.

tax havens 2

And check their TI rankings!

By the time I’d got up to the 30s, my cynicism was starting to really kick in . . . so when I saw Costa Rica, tax-haven for the world’s mega-rich at No. 38, I wasn’t too surprised. Still, who’d have expected to see Botswana up there at 34, just behind Israel at 32, whose government has for years been ignoring UN requests to stop massacring Palestinians and invading their lands? Still, they’re pretty up-front about that too.

Which brought me to the 20s – and there was/were the United Arab Emirates, up with the elite of the world’s squeaky-clean at No 21!

“The UAE is the most densely migrant-populated country in the world. About 90 percent of the UAE’s 9 million people are foreign-born, most working on temporary employment contracts in a range of white-collar, blue-collar and service industry jobs. Only a handful of migrants have been granted citizenship since the country gained independence in 1971. Amnesty International and other humanitarian agencies have put a spotlight on the hardships migrant workers have faced, including exploitation of construction workers and unequal protection of women and domestic workers.”

Soooo . . . What do you make of all that? At the very least, you’d want to take a closer look at the criteria those “Transparency” people are using to make their assessments.

New Zealand was awarded No 1 spot, in spite of the following well-publicised facts:

  • * “Hundreds of drivers have had their licenses cancelled after a fraudulent licensing scam was uncovered; revealing [Ministry of Transport] staff had accepted bribes of up to $600 in exchange for a licence.”
  • A new plan has been put forward for the America’s Cup bases in Auckland by a company owned by some of the country’s richest businessmen who own 20 hectares of land at Wynyard Quarter and the Viaduct Harbour.” Some less wealthy citizens believe the plan will further develop Auckland’s downtown as an exclusive playground for the super-rich. I’ll be following that one with interest.
  • “Immigration NZ has completed an investigation [but not releasing their findings] into whether Kim Dotcom can be deported from New Zealand for failing to declare a dangerous driving conviction – but it’s refusing to say what the outcome is.

[Dotcom] entered the country on a special scheme intended to attract wealthy foreigners, giving three-years residency and a fast-track to citizenship to those who invested $10 million or more in New Zealand.

Documents obtained by the Herald through the Official Information Act showed NZSIS staff tried to block the residency application but dropped its objection after being told there was “political pressure” to let the tycoon into New Zealand.

At the time, the new residency scheme was having little success and – documents show – [Immigration Minister] Coleman was eager to get “high rollers” into the country.”

banks dotcom

ex-mayor Banks, Kim Dotcom and former PM John Key

Dotcom, as you may know, made wagonloads of money from various online businesses including his file-sharing website, Megaupload, arousing the ire of powerful figures in the United States. The US government then pressured their NZ counterparts to have him extradited, despite the fact that he is a citizen of Germany. Although known to have criminal convictions in Hong Kong and Germany, and to have served prison time in his own country, Dotcom was granted fast track residence in New Zealand in 2010. At the time of his application, he made several substantial “charitable” donations, one of which was a $50,000 contribution to the election campaign of former Auckland Mayor and Member of Parliament, John Banks.

Mr Banks faced criminal charges as a result, but claimed not to remember Dotcom’s financial assistance. Nevertheless, he was convicted in 2014 of filing a false electoral return. The conviction was subsequently overturned after Banks brought a witness from the USA to support his story (of amnesia?). However, it seems his righteous indignation went a little too far when he sought to get $190,000 legal costs awarded against Dotcom. In a recent Court of Appeal decision, the judge ruled that, although the original conviction had been reversed on a legal technicality, the court had stopped short of declaring Banks innocent – so no payment of costs was justifiable. Incidentally, after arriving in New Zealand, Dotcom had taken out a lease on one of the country’s most expensive houses, by coincidence no doubt, in the electorate of John Key, NZ’s Prime Minister at the time, and leader of the government which included John Banks.

  • The latest scandal rocking New Zealand’s ruling elite involves the venerable law firm, Russell McVeagh, among the country’s largest and most reputable. After some prevaricating, the partners have admitted that there had been shenanigans in the past involving some of their colleagues and young summer interns from the University of Auckland Law Faculty. There has been talk of interns selected for their physical attributes, required to sign confidentiality agreements, and engaging in sex acts on the boardroom table.

Complaints had apparently been laid by Auckland University on behalf of some of the students concerned, none of whom, however, want their names to be known for fear of retribution from their powerful assailants. Nothing corrupt about all that, of course. The interns were, after all, willing participants, I guess.

Nevertheless, it does make you wonder about Transparency International, and how they go about comparing and assessing levels of transparency and corruption in those 180 countries.

The TI organisation was apparently founded in Germany in 1993 by an interesting coterie of high-flyers including a former director of the World Bank, a lawyer for General Electric, a member of the US military intelligence establishment, and several high-ups in corporate banking and industry (Source: Wikipedia).

In spite of being clearly dependent on information from whistle-blowers, TI recently specifically refused support for Edward Snowden, one of the key informants for WikiLeaks. There has also been some discomfort expressed over how TI can maintain objectivity when it accepts large donations from large corporations (such as the $3 million paid over by Siemens Corp in 2008). The American chapter of Transparency International, TI-USA, was censured by its parent body after presenting Hilary Clinton with its Integrity Award in 2012. There has also apparently been some conflict with the TI people in New Zealand, though I haven’t been able to learn the exact details.

Well, ok, maybe the central powers at TI do seek to supervise the moral integrity of their branches abroad – but I read of another case involving a TI employee, Anna Buzzoni, having to leave the organisation after blowing the whistle on “questionable financial dealings” at TI’s Water Integrity Network.

standard_poor_2076208b

Settled out of court in a case accusing them of deceiving investors and contributing to the 2008 world financial crisis

Who can you trust these days?

Certainly not the rankings provided by the world’s major credit rating agencies. The latest list published by Standard and Poors assesses New Zealand, with no manufacturing industry to speak of, and a tiny population, as AA,  a “High Grade” investment; and Turkey, with its booming economy and large manufacturing sector, as BB, “non-investment grade, speculative”. Still, maybe you’re better off not getting a good grade from those crooks:

In the spring of 2013, Moody’s and Standard & Poor’s settled two “long-running” lawsuits “seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated”. The suits were filed in 2008 and had sought more than $700 million of damages. Settlement terms were not disclosed in both cases, and the lawsuits were dismissed “with prejudice”, meaning they cannot be brought again.

In the end, S&P settled for $1.5 billion – possibly feeling it was worth the money to avoid further negative publicity. Now it seems they are back dispensing credit ratings, and investors are happy to trust them again. Really?

What is money, and where does it come from?

One thing I can tell you for sure – it doesn’t grow on trees! But that doesn’t really answer the question. An article in the New Zealand Herald today caught my eye:

Show me the money: Reserve Bank reveals the ins and outs of printing cash

There is about five and a half billion New Zealand dollars circulating at the moment – in the country and offshore – and hundreds of thousands of notes being destroyed every week.

In 2016, the Reserve Bank destroyed 43 million notes, with a value around $1 billion.

The money is “granulated” down into “very small sort of confetti-sized bits of bank notes” then sent away to a specialised company that recycles them into plastic items one might find at home.

All this money being transformed into plastic on a weekly basis must be replaced.

print money

Thank God for Canada!

New Zealand money is printed much less frequently than it is destroyed, and it’s done overseas.

The notes are printed in Canada because it is not financially viable to run a printing factory in New Zealand. With money only ordered once a year at most, such a factory would lie unused much of the time.

Despite the increased use of Eftpos cards and online banking, the amount of New Zealand cash circulating here and overseas is growing, something that “around the currency world gets discussed a fair bit”.

There are a few “industry theories” on why the around $5.5b in cash is growing. One is that low interest rates means it doesn’t “hurt as much” to hold on to cash.

“You’re not losing interest revenue by holding it to any extent.”

Other reasons could include that New Zealand money was popular overseas, people using cash to avoid taxation, and using cash in the “dark economy” for illegal dealings.

But another thought was simply that increased spending led to increased needs for cash.

One way or another, the Reserve Bank has so far always had enough to circulate, and didn’t have “masses of unused notes sitting around”.

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Well, I don’t know about you, but for me, this article raised more questions than it answered.

moneypig

Everyone needs something to believe in

First of all, millions of dollars in “legal tender” are created and destroyed every year – so clearly those paper notes have no intrinsic value. In fact, they’re not worth the paper (or plastic) they’re printed on.

Second, NZ money is printed in Canada – and if that money factory is working all year round, I guess those Canadians must be printing money for a few other countries as well, yeah?

“New Zealand money is printed much less frequently than it is destroyed, [but despite this, and] “Despite the increased use of Eftpos cards and online banking, the amount of New Zealand cash circulating here and overseas is growing.” How so? Was there more cash in the past? And are people hoarding old banknotes? But the government keeps issuing new designs and the old ones become obsolete, so that can’t be true.

The Reserve Bank doesn’t have masses of unused notes sitting around but always has enough to circulate even at Christmas time when demand increases, and the “around $5.5b in cash is growing” all the time.

Smells fishy to me! Obviously, there’s something they’re not telling us. And it could be this:

It’s been estimated that notes and coins in all the world’s currencies represents about 8% of the total world money supply. What? Yes!

If you think you know what money is, and you’re happy now that you know it comes from Canada, I’ve got bad news for you. Even the best economist brains in the world can’t agree on what money is. But one thing I’m sure they will agree on – It doesn’t come from a printing factory in Canada.

What they’ll tell you, if you insist on a definition, is that there is a mysterious algebraic thing they call “M”. There used to be three of these things, M1, M2 and M3 – but now it seems another has been added: M0. Well, actually I think that was a con, because M0 is notes and coins, and all those other “M”s have actually been moved further up into the realms of virtual reality – bank overdrafts, credit card limits, futures, toxic mortgages, quantitative easings, and other stuff we mortals earning normal wages or salaries have no concept of.

How-to-Have-an-AWESOME-Marriage-when-drowning-in-debt

Borrow money from your friendly local banker 🙂

Let me give a simple example. Just before a big commercial shopping event like Christmas, my bank texts me to say there is $20,000 waiting for me. All I have to do is send a text reply to a four-digit number, that $20,000 will magically appear in my account, and I can get on with the business of spreading good cheer to relatives and friends.

I never ask for it – but I can’t help wondering: Is that $20,000 sitting at the bank in a bag waiting for me, or do they give it someone else? What if I change my mind later and ask for it? Do they say, “Sorry, buddy, we gave it to Joe Bloggs”?

And I also wonder, how many other people around the world got the same offer from their banks? A thousand? Ten thousand? A million? What if we all take up the offer? What if we all don’t? Will they print more? Or shred the unclaimed millions?

Then there’s the small matter of debt. The United States of America is proud possessor of the world’s largest economy. It also happens that they are the world’s largest debtor nation. According to Wikipedia, on November 7, 2016, US total gross national debt stood at $19.8 trillion (about 106% of the previous 12 months GDP). I checked the US online debt clock at 10.23 last night, and found that their figure is nearly $70 trillion. Clearly it depends who’s measuring, and how they measure it. Whichever figure you decide to run with, it’s a sizable heap of money!

Well, the next question that arises is, who do they owe it to? I asked a mate at work who seems to know a lot about politics, economics and world affairs. “China,” he asserted confidently, “and Japan.” So, I checked them out.

Turns out that China’s “national debt” as of March 2016 (the most recent figure I could find) stood at the equivalent of $4.3 trillion. The same source informed me that Japanese “public debt” in 2013 passed the quadrillion yen barrier in 2013 (about $10.5 trillion at that time).

Debt

Looks like a tricky situation – and he’s not alone.

Government debt in the UK (ie not counting private and commercial borrowings) amounted to £1.56 trillion, or 81.58% of total GDP, and the annual cost of servicing (paying the interest on) this debt amounted to around £43 billion. The Conservative government pledged in 2010 that they would eliminate the deficit by the 2015/16 financial year. However, “the target of a return to surplus at any particular time was finally abandoned by the then Chancellor of the Exchequer George Osborne in July 2016”. And sad to say, until they start running a surplus, that debt’s only going to get bigger.

Evidently none of the world’s biggest national economies is in any position to lend money to their insolvent neighbours. Fortunately, we have banks that can come to the rescue. Fractional-reserve banking is the current form of banking practised in most countries worldwide. In a nutshell, this system allows banks to lend up to 90% of the money they have in deposits.

The beauty of the system, from the banks’ point-of-view, is that they don’t have to apologise to you when you go to make a withdrawal: “Oh, sorry, we loaned your money to John Doe.” You can have yours, and he can keep his – and the bank can collect interest on the new money it created.

Rolling_Stone_Banksters

Happy bankers 🙂

But what if we all go and demand our deposits at the same time? Luckily every country has an LOLR – which apparently stands for “Lender of Last Resort”, not “Laughing Out Loud, Really”). This is normally the country’s central bank eg the US “Fed”, or the Bank of England, which guarantee to bail out the too-big-to-fail banks when they get caught out, as in 2008.

And since we are assured that those central banks don’t have large stocks of money in their cellars, and tax-payer dollars are already insufficient to balance their government’s books, I guess that means they have to borrow more money from the private banks.

Either that or go cap-in-hand to the money printing factory in Canada. Think about it.

If you don’t think there’s a conspiracy, you’re not paying attention

An interesting article I came across in Time Magazine: “Why Smart People Still Believe Conspiracy Theories”

wall street conspiracyA coterie of academic stooges set out to prove that people who believe in “conspiracy theories” are of sub-normal intelligence. Unfortunately for them, their findings did not confirm their initial hypothesis – so they had to come up with another one, ie people believe what they want to believe. Which is probably equally true of people who insist that there is no conspiracy.

The researchers’ fundamental error was to assume that people who believe there is a conspiracy have no solid evidence to support their belief. Not true, guys and girls.

  • Take a look at the Roman Catholic Church. One huge international conspiracy to keep the poor in slavery.
  • Take a look at Wall Street and the world of international banking and finance. Another monumental conspiracy to hide the truth behind global economic imperialism.
  • Take a look at the United States political system. Another major conspiracy aimed at convincing poor Americans that they actually have a say in how their government rules the country.

trumps-favorite-mcdonalds-meal-is-a-catholic-conspiracyA few extracts from the Time article:

“Millions of Americans believe in conspiracy theories — including plenty of people who you might expect would be smart enough to know better.

Despite mountains of scientific evidence to the contrary, at least 20% of Americans still believe in a link between vaccines and autism, and at least 37% think global warming is a hoax*, according to a 2015 analysis. Even more of us accept the existence of the paranormal: 42% believe in ghosts and 41% in extrasensory perception. And those numbers are stable. A 2014 study by conspiracy experts Joseph Uscinski of the University of Miami and Joseph Parent of Note Dame University surveyed 100,000 letters sent to the New York Times and the Chicago Tribune from 1890 to 2010 and found that the percentage that argued for one conspiracy theory or another had barely budged over time.

Now, a study published online in the journal Personality and Individual Differences provides new insights into why so many of us believe in things that just aren’t true: In some cases, we simply want to believe.

The second study was similar but also sought to correlate belief in conspiracy theories and the paranormal with overall cognitive ability. To determine this, the people answered a number of questions that measured their numeracy — or basic mathematical skills — and their language abilities.

us democracyWhat’s most troubling — and a little mystifying — is the fact is that so many people in the studies score high on all of the rational and intellectual metrics and yet nonetheless subscribe to disproven theories. That’s the case in the real world too, where highly educated people traffic in conspiratorial nonsense that you’d think they’d reject. In these cases, the study concluded, the reason may simply be that they’re invested—emotionally, ideologically—in believing the conspiracies, and they use their considerable cognitive skills to persuade themselves that what’s untrue is actually true. If you want to believe vaccines are dangerous or that the political party to which you don’t belong is plotting the ruination of America, you’ll build yourself a credible case.”

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*Interestingly US presidents and CEOs of large corporations seem to subscribe to this one!

Economic gobbledegook – and why the world is going to hell on a fast train

This is by some guy called Ambrose Evans-Pritchard, writing in the UK’s Daily Telegraph. Well, with a name like that you wouldn’t imagine he’d have missed too many meals in his life. He’s probably right in picking that it’s not a good sign for the future of the world when someone can pay $450 million for a painting, even if Leonardo da Vinci did paint it. Reading between the lines of overblown pretentious verbiage, I reckon he’s saying the world is in for another major financial crash, engineered by the same grotesquely over-paid, grasping, selfish “financiers” that brought us the last one.

Cy twomble

$46 million painting by Cy Twombly

Leonardo da Vinci has special cachet. What is striking about the Christie’s soiree in New York last week was not so much the US$450m ($661m) paid for his rediscovered Salvator Mundi but the prices fetched by everyone else.

Buyers forked out $46m for vermilion spirals from the Bacchus series by Cy Twombly, executed 12 years ago with a paint-drenched brush on a pole. Soothing sands called Saffron by Mark Rothko fetched US$32m.

The week’s haul at Christie’s and Sotheby’s topped US$1.5 billion, with Asian buyers snapping up Monets. Fernand Leger’s abstract Contrastes de Formes fetched US$62m.

It screams late-cycle liquidity, recalling Japan’s impressionist fever in the late Eighties before the Nikkei collapsed and the bottom fell out of the art market.

092216-best-paidBitcoin clinches the argument. It has risen more than 1,200 per cent over the past year to more than US$8000 – five times an ounce of gold – on a “greater fool” presumption.

This is not a criticism of blockchain technology. It will flourish. But you cannot yet buy and sell things in any meaningful way with cryptocurrencies worth US$180b.

Bitcoin will end badly, either when the Chicago Mercantile Exchange launches its futures contracts in two weeks and allows traders to short it, or when the global cycle turns. A runaway asset boom can last a long time when the G4 central banks are holding real interest at minus 1.5 per cent and spending US$2 trillion a year soaking up “safe assets”

And here’sAcademic bulls say the stock of central bank assets is still growing. Market bears counter that the flow is falling, which matters more to them. Hence the recent rout in high-yield credit. Junk bond funds saw the biggest outflows since 2014 last week.

A parallel retreat is under way in East Asia where US$800m of bond sales in steel, solar and palm oil were cancelled. These are minor tremors. What threatens the universe of stretched asset values is the return of US inflation. The boom is built on the premise that the Fed will bathe the global system with ample liquidity.

banking-2015

2015 figures for the UK

Yet that is precisely what is now in doubt as US unemployment drops to a 17-year low and the dormant Phillips curve reawakens. The New York Fed’s underlying inflation gauge has jumped to a post-Lehman peak of 2.96 per cent.

All it will take from now on is a single piece of hard data to confirm this trend and the markets will reprice interest rate futures abruptly, shaking the whole edifice of global risk appetite.

Staccato rate rises by the Fed would ignite a dollar surge, squeezing an estimated US$10.7t of offshore dollar debt. There is a further US$14t of global dollar debt hidden in derivatives and FX swap contracts, pushing the total to US$25t.

The Wolf of Wall Street

“Watching with wolfish concentration . . . “

I didn’t want to upload the whole pretentious, jargon-loaded article – just give you a taste – but here’s Evans-Pritchard’s conclusion:

“Major players in the City are watching with wolfish concentration. Bank of America says the air is getting thinner for risk assets but tells clients to stay with the “Icarus trade” as long as you can still breathe.

Mark Haefele, investment chief at UBS, says it is too early to bail out but the coming inflection point is “something we think about a lot”.

Inequalities are a result of low wages, based on big profits, financial swindles, multi-trillion dollar public handouts and multi-billion-dollar tax evasion

If you still have illusions about the American dream, thanks to sojourner for this:

Image: http://www.commondreams.org …Inequality is not a result of ‘technology’ and ‘education’- contemporary euphemisms for the ruling class cult of superiority – as liberals and conservative economists and journalists like to claim. Inequalities are a result of low wages, based on big profits, financial swindles, multi-trillion dollar public handouts and multi-billion-dollar tax evasion… …US corporations in […]

via How Billionaires Become Billionaires | Global Research – Centre for Research on Globalization — An Outsider’s Sojourn II (The Journey Continues)

What are we fighting for?

Country Joe And The Fish – Vietnam Song

Rock Cellar Magazine called it the greatest protest song of the Sixties, which may well make it the greatest protest song of all time.

Country Joe and the Fish performed it at the Woodstock Festival in 1969. Alter a word or two here and there (North Korea, Syria, Iraq for Vietnam, for example), and it’s as relevant today as it was nearly 50 years ago.

https://www.youtube.com/watch?v=-7Y0ekr-3So

Well, come on all of you, big strong men,

Uncle Sam needs your help again.

He’s got himself in a terrible jam

Way down yonder in Vietnam

So put down your books and pick up a gun,

We’re gonna have a whole lotta fun.

 

And it’s one, two, three,

What are we fighting for?

Don’t ask me, I don’t give a damn,

Next stop is Vietnam;

And it’s five, six, seven,

Open up the pearly gates,

Well there ain’t no time to wonder why,

Whoopee! we’re all gonna die.

 

Come on Wall Street, don’t be slow,

Why man, this is war au-go-go

There’s plenty good money to be made

By supplying the Army with the tools of its trade,

But just hope and pray that if they drop the bomb,

They drop it on the Viet Cong.

 

And it’s one, two, three,

What are we fighting for?

Don’t ask me, I don’t give a damn,

Next stop is Vietnam.

And it’s five, six, seven,

Open up the pearly gates,

Well there ain’t no time to wonder why

Whoopee! we’re all gonna die.

 

Well, come on generals, let’s move fast;

Your big chance has come at last.

Now you can go out and get those reds

‘Cause the only good commie is the one that’s dead

And you know that peace can only be won

When we’ve blown ’em all to kingdom come.

 

And it’s one, two, three,

What are we fighting for?

Don’t ask me, I don’t give a damn,

Next stop is Vietnam;

And it’s five, six, seven,

Open up the pearly gates,

Well there ain’t no time to wonder why

Whoopee! we’re all gonna die.

 

Come on mothers throughout the land,

Pack your boys off to Vietnam.

Come on fathers, and don’t hesitate

To send your sons off before it’s too late.

And you can be the first ones in your block

To have your boy come home in a box.

 

And it’s one, two, three

What are we fighting for?

Don’t ask me, I don’t give a damn,

Next stop is Vietnam.

And it’s five, six, seven,

Open up the pearly gates,

Well there ain’t no time to wonder why,

Whoopee! we’re all gonna die.

 

Thanks to Dr Stuart Jeanne Bramhall for bringing the song to mind. Visit her blog The Most Revolutionary Act . . .

And Thom Hickey. If you haven’t visited his Immortal Jukebox, you really should!