Steve Bull's Blog, page 1373
April 25, 2017
Prosecution of Assange is Persecution of Free Speech
US authorities are reported to have prepared charges to seek the arrest of WikiLeaks founder Julian Assange. This overreach of US government toward a publisher, whose principle is aligned with the U.S. Constitution, is another sign of a crumbling façade of democracy. The Justice Department in the Obama administration could not prosecute WikiLeaks for publishing documents pertaining to the US government, because they struggled to determine whether the First Amendment protection applied in this case. Now, the torch of Obama’s war on whistleblowers seems to have been passed on to Trump, who had shown disdain toward free speech and even calledthe U.S. media as “enemies of the people”.
Earlier this month, CIA Director Mike Pompeo vowed to end WikiLeaks, accusing the whistleblowing site as being a “non-state hostile intelligence service often abetted by state actors like Russia”. He also once called Edward Snowden a traitor and claimed that he should be executed. This declaration of war against WikiLeaks may bring a reminiscence of George W. Bush’s speech in the aftermath of 9-11, where he said, ‘either you are with us or against us’, and urged the nation to side with the government in his call to fight global ‘war on terror’.
In a recent interview on DemocracyNow!, journalist at The Intercept, Glenn Greenwald put this persecution of WikiLeaks in the context of a government assault on basic freedom. He spelled out their tactics, noting how the government first chooses a target group that is hated and lacks popular support, for they know attacking an idea or a group that is popular would meet resistance. He explained:
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Surplus or Stimulus
René Magritte Le Cri du Coeur 1960
Austerity is over, proclaimed the IMF this week. And no doubt attributed that to the ‘successful’ period of ‘five years of belt tightening’ a.k.a. ‘gradual fiscal consolidation’ it has, along with its econo-religious ilk, imposed on many of the world’s people. Only, it’s not true of course. Austerity is not over. You can ask many of those same people about that. It’s certainly not true in Greece.
Austerity is over as governments across the rich world increased spending last year and plan to keep their wallets open for the foreseeable future. After five years of belt tightening, the IMF says the era of spending cuts that followed the financial crisis is now at an end. “Advanced economies eased their fiscal stance by one-fifth of 1pc of GDP in 2016, breaking a five-year trend of gradual fiscal consolidation,” said the IMF in its fiscal monitor.
In Greece, the government did not increase spending in 2016. Nor is the country’s era of spending cuts at an end. So did the IMF ‘forget’ about Greece? Or does it not count it as part of the rich world? Greece is a member of the EU, and the EU is absolutely part of the rich world, so that can’t be it. Something Freudian, wishful thinking perhaps?
However this may be, it’s obvious the IMF are not done with Greece yet. And neither are the rest of the Troika. They are still demanding measures that are dead certain to plunge the Greeks much further into their abyss in the future. As my friend Steve Keen put it to me recently: “Dreadful. It will become Europe’s Somalia.”
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The Fate of the Euro
QUESTION: The bounce in the Euro is a fool’s’ game?
ANSWER: Absolutely. The Euro is doomed because especially if Le Pen loses, Brussels will be relieved and proceed as usual. The same problems will merely exist and no reform will come forward to save the day. A good wind will blow over the European banking system. You are expecting politicians to admit they were wrong and surrender power in Brussels. NOT GOING TO HAPPEN. As Einstein said, you will NEVER solve the problem of the Euro with the same thinking process.
A weekly closing above the 10860 level in the Euro will imply the rally will press higher to test the 112-114 level. Just look at the technical perspective on a monthly level. The Downtrend Line stands in May up at 12622. We are nowhere near reversing the trend in the Euro.
We have the French, British, and then German elections here in 2017. We do not expect total chaos before 2018. That seems to be the point of a major shift.
Feudalism and the “Algorithmic Economy”
Using AI and algorithms to return to feudal economic models
For the sake of this essay, feudal economic models imply the idea that a very tiny segment of the society is fantastically rich while the bulk of society works hard, has few choices about the work they do, and tend to be poorly compensated for their efforts.
feu·dal·ism: noun, historical
the dominant social system in medieval Europe, in which the nobility held lands from the Crown in exchange for military service, and vassals were in turn tenants of the nobles, while the peasants (villeins or serfs) were obliged to live on their lord’s land and give him homage, labor, and a share of the produce, notionally in exchange for military protection.
Feudalism – Wikipedia
Although derived from the Latin word feodum or feudum (fief), then in use, the term feudalism and the system it…en.wikipedia.org
Welcome to the Algorithmic Economy, a future which uses machines to determine how effective you can be and how little they can pay you in the process.
There are no unions in this economy. There are no bosses to complain to. There are no people you can ask for redress. Because in this economy, the people doing the labor are considered the least important part of the machine and it’s best if they never communicate with someone living if it can be helped.
This is just like something out of a dark and dystopian science fiction novel, except its likely happening to you, right now. If it isn’t, unless you are very fortunate, it will be, soon. I write about the near-future in my speculative fiction. Often these are my most unpopular stories because they paint technology in a less-than-ideal light.
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Chinese Stocks Give Up Trump Gains As $1.7 Trillion Source Of Funds Unwinds
The Chinese and U.S. stock markets are going in opposite directions, as an intensifying crackdown against leverage has slammed the recently ‘stable’ Shanghai Composite over the past week, erasing all post-Trump gains.
The relatsionship between the two markets is the weakest since August 2008 – just before the collapse of Lehman unleashed chaos on the global financial system.
Bloomberg reports that given how mainland stocks have become increasingly linked to global markets, however, the divergence may prove to be a short-term phenomenon, according to Daniel So, a strategist at CMB International Securities Ltd. in Hong Kong.
“The Chinese government is squeezing speculation out of the market and while investors adjust, it will inevitably lag behind other parts of the world,” So said.
And as we noted previously, for a market relying more on liquidity than fundamentals, China’s worsening monetary conditions index suggests tough times ahead…
China’s deleveraging drive and the renewed focus on market irregularities have put the mainland share market into a “bad mood,” but officials aren’t likely to tolerate a lot of instability ahead of the Communist Party’s twice-a-decade leadership reshuffle later this year, said George Magnus, a former adviser to UBS Group AG and current associate at the University of Oxford’s China Centre.
“The authorities are trying to calm down leverage and housing at the margin but will not go any further than the minimum necessary,” he said. “If it looks as though regulatory tightening is delivering unfavorable outcomes, and risks any form of instability, you won’t be able to say the world ‘backtrack’ fast enough.”
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The Fed Will Blink
Honest Profession
GUALFIN, ARGENTINA – The Dow rose 174 points on Thursday. And Treasury Secretary Steve Mnuchin said we’d have a new tax system by the end of the year.
Animal spirits were restless. But which animals? Dumb oxes? Or wily foxes? Probably both.
Since Thursday there have been two additional very spirited up days with large gaps – this is very rare in the DJIA, particularly from such a high level after a ~240% rally since the lows made 8 years ago… it continues to feel like a blow-off (and it happens against the backdrop of a sharp slowdown in money supply growth) – click to enlarge.
But what caught our attention were the central bankers strutting across the yard and crowing with such numbskull cackles that even barnyard animals would be embarrassed by them. There was a time when central banking was an honest profession.
Central bankers provided financing for the government. They backed the banking system, too, by holding savings as reserves, which they lent to solvent member banks in emergencies. They were tight-lipped, tight-laced, and tightwads. Their role was to say “no” more often than “yes.”
When the king wanted money to fight in a war… or build a bridge… the banker would give the terse reply: “Sire, we don’t have any.” Real money was backed by gold. And credit had to be backed by real money, which meant it had to be saved. Savings were limited, as was money.
Cackling central planners – this reminds us of the “FOMC meeting laughtrack” of 2003-2007 – the more Fed members laughed at their meetings, the closer the economy and financial system came to the near fatal implosion of 2007-2009. Do today’s monetary bureaucrats have more of a clue than their predecessors just before the GFC? The answer is an emphatic no – they have simply doubled down and blown an even bigger credit and asset bubble.
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Cataclysm
Collapse generally comes as a surprise, even to those who predict it.
The USSR didn’t just fail one day, as does a person who dies of a sudden heart attack or stroke. It was more like a wasting illness brought on by an unhealthy lifestyle. A physician tells a morbidly obese patient: “Your daily consumption of twelve cocktails, three packs of cigarettes, and 4,000 calories, and your refusal to engage in exercise more strenuous than walking to the refrigerator will kill you, but I can’t say when.” For both individuals and governments, certain choices are incompatible with continued existence, and the Soviet government made plenty of those.
Very few people foresaw its failure when it was imminent, even purported experts. The small group who said Soviet communism wouldn’t work because it couldn’t work were disparaged right up until it didn’t work. However, the deck is always stacked in favor of those predicting this or that government will fail. Ultimately they all do because they all come to rest on a foundation of coercion and fraud, which doesn’t work because it can’t work.
There is both a quantitative and qualitative calculus for individuals subject to a government: what the government takes versus what individuals get back. Government is a protection racket: turn over your money and it promises physical security from invasion and crime, and adjudication and restitution in the event of civil or criminal wrongs. The quantitative calculus: am I getting more back than I put in? The qualitative calculus: what activities and people does the government help or hinder?
Protection rackets are often indistinguishable from extortion rackets, the “protector” a bigger threat to the “protected” than the threats against which they’re supposedly protected. Such is the case with the US government, as it was with the former Soviet government.
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April 23, 2017
Confronting Russophobia
Confronting Russophobia
There is a paranoid, hysterical quality to the public discourse on Russia and all things Russian in today’s America. The corporate media machine and its Deep State handlers have abdicated reason and common decency in favor of raw hate and fear-mongering. We have not seen anything like it before, even in the darkest days of the Cold War.
The roots of Russophobia’s emotional appeal to the left seem clear: It comes as a huge mental relief to the ultrasensitive liberal mind to be able to hate an outside group with impunity, and even to appear virtuous in the process. Of course, the object of that animus is a Christian and European nation that stubbornly refuses to be postmodernized, or become gripped by self-hate and morbid introspection; a nation not ashamed of its past and unwilling to surrender its future to alien multitudes; a nation where nobody obsesses over transgender bathrooms, microaggressions, and other “issues” indicative of a society’s moral and intellectual decrepitude.
The liberals’ ideological and emotional Russophobia has blended seamlessly with the bread-and-butter hostility to Russia shared by Deep State operatives in the intelligence and national-security apparatus, in the military-industrial complex, and in the congressional duopoly. The result is a surreal narrative that mixes supposedly unprovoked “Russian aggression” in Ukraine, hostile intent in the Baltics, serial war crimes in Syria, political destabilization in Western Europe, and gross interference in America’s “democratic process”. The result is an altogether fictitious “existential threat,” which has made President Trump’s intended détente with Moscow impossible. He may have been serious about turning over a new leaf, but the Deep State counterpressure proved just too great. A solid rejection front emerged, left and right, conservative and liberal, which extends even into his own team and finally inhibited him from making moves that could have appeared too friendly to Putin.
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Podcast: How Residents of an English Town Took Governance and the Local Economy Into Their Own Hands
The stories in this series come from a small town in the United Kingdom called Frome, but the themes and topics explored are global in scale, ranging from the Americas to the Himalayas. Despite its unique setting, nestled in the sleepy countryside of southeast England, Frome is a microcosm of much of what is taking place in towns and cities around the world. The voices of Frome tell stories that will sound familiar all across the globe, and if you listen closely, you just might hear your own story in there as well.
Our story begins in a noisy bar. A few years ago, a group of disgruntled Frome residents were sitting around a table at their local pub, complaining about how bad their local town council was. Sound familiar? Well, this story is a bit different. Fast forward a few years, and the coalition that these residents decided to form has completely replaced every last council member. This coalition is known as the Independents of Frome, and their platform is based on a rejection of traditional party politics and on bringing power down to the local level.
This episode explores the Independents of Frome, as well as many of the initiatives that they have promoted and supported: a community fridge, a library of things, a town resilience officer, and more.
But the story of Frome, like most things in life, is not as simple as it may appear. This town has a long and at times dark history, and when parts of that history are uncovered, old wounds are revealed which tell an all too familiar story of division and gentrification. We’ll touch on this history here before we delve much deeper into these divides next week, in part two of this three-part series.
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Have you prepped for the most likely SHTF event?
I like to read a lot of self-reliant and prepping blogs and articles, as we all likely do. Toward the beginning of my self-reliant venture, these articles and blogs were critical in my education. I am in no way an expert in this field, but I am comfortable enough that a lot of this information for me now is review, and it is always good to review the basics.
I love reading articles and blogs simply for the fact that there is usually more than one way to skin the proverbial cat, and I’m always looking for ways to improve my knowledge base or tweak existing techniques. This self-reliant community is often very willing to share their experiences, both positive and negative, so that others may learn from their successes as well as their failures. To say this community is rich in comradery would be an understatement, to say the least.
I have never written for another blog other than my own, so this is a new venture for me. I hope I will be able to give something back to someone here and return the favor that you have all given me over the last several years.
As I continue to read and search the self-reliant and prepper communities, I run across multiple hits regarding making fire, storing and gathering water, weapons and ammunition, just to name a few. It’s not that these things aren’t important, they should be the staple of anyone’s self-reliant plan, however there is one particular aspect that I rarely see mentioned, and yet it is likely one of the most commonly overlooked ways to prepare for bad times ahead.
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