... so that we may be free from corrupt representation, factional impositions and unjust settlements
The TV channel Russia Today (RT), has produced some independent reports on the unsavoury behaviour of banks and more recently the Keiser Report has exposed the "alleged" corruption of the
Royal Bank of Scotland Group, asset-stripping more than 15,000 UK SMEs that they tipped into "bankruptcy" and the fact George Osborne and Vince Cable were allegedly cognizant
of these allegations but went ahead with RBS share sales anyway. See program here
RT has been advised that their bank account in the UK is being closed. The account is with National Westminster Bank a part of the RBS Group. Of course we are not alleging any connection of one event with the other or is there a connection?Russian propaganda?
Although US State Department and even Hillary Clinton have referred to RT as Russian propaganda the range of independent shows that accept no editorial orientation is impressive including world famous Larry King's "Politicking", Afshin Rattansi's "Going Underground", Edward Harrison and Ameera David's "Boom Bust" to name just a few. The reality is that RT is one of the few media that truly supports independent journalism that promote alternative interpretations of events. It is this that the US State Department does not want because it cuts across their desire to not admit alternative points of view or neutral stands. RT has provided the third party US Presidential candidates with air time which was not provided to the people of the USA by mainstream US outlets, many of which seem to be staffed by State Department stenographers.An international embarrassment
Without taking a political side it is more than evident that John Kerry is seriously challenged by facts in his inability to justify any of his broken record repetitive totally exaggerated reference to Aleppo "barbarism" as being the biggest humanitarian disaster since the second world war while he conveniently forgets the barbarism of Falluja, his proactive and personal efforts to protect rapists, head-lopping, sex slave trade "moderates", the attack on a hospital in Kunduz and the murderous acts of his favourite allies, Saudi Arabia and Israel. Kerry is an international embarrassment.Could do better
Boris Johnson the new British Foreign Secretary
isn't shaping up and his half-term report is that he needs to do better. He needs to set out a more robust UK position by distancing himself from the insincere assertions of John Kerry. Why doesn't Boris ask for the evidence to corroborate Kerry's shameful monologues. In the absence of a Tonkin Resolution-type concocted excuse, the UK needs to be distanced from this type of low grade foreign meddling and get back to an independent visionary policy worthy of BREXIT. Boris has the intellectual skills to achieve this, he needs to wake up.
The best way to predict the future is to create it
The title to this section is a quote from Peter Drucker the management guru who died in 2005. Drucker concentrated on the business unit but his insights remain important for the macroeconomy as well as human action in general. The current chaos in the fields of foreign affairs and economics are essentially caused by perceptions that are not based on fact, that is, evidence, and yet governments are taking decisions based on visions and assertions.
In "diplomatic circles" the oft heard statement that "all options are on the table!" normally means that as a last resort, violence and aggression will be used to secure what some countries desire. Economic sanctions are in fact an act of war that cause the populations of target countries to suffer. No country has the right to undermine the standards of living of people of another nation as a basis for changing the policies of governments over which the same people have no real influence. Democratic principles will seldom cause populations subjected to sanctions to overthrow governments. In western "democracies" the electorates are similarly unable to secure governments that reflect their will. We all suffer from a leadership incapable of predicting the future and even less able to create one that is motivated by the common human conscience that desires peace and goodwill for all. This is the leadership crisis embodied in the political party systems.
The USA and now European are increasingly aping of the Israeli model that has been imposed for over some 65 years, a policy model of intentional destruction, of the dispossession of the Palestinians, economic sanctions, ethnic cleansing and extra-constitutional looting of the land and natural resources of others; a case study in criminality, the perversion of power and decadence of leadership. Iraq, Afghanistan, Libya and now Syria are examples of the substitution of mindless destruction for any attempt to create viable peaceful futures. Syria has exposed the hypocrisy of the "war on terror" becoming one where terrorists are fully supported by the USA, its coalition and middle eastern states some of which are implicated in the 9-11 atrocity and which launched this terrible period of inhumane destruction.
CIA "covert" operation becomes a very public joke ;-)
In an intentional constituent-aimed media interview on NBC's "Meet the Press", the Vice President of the USA, Joe Biden, hinted that the CIA is preparing a "covert" Cyber attack on Russia. How silly can you get by broadcasting a covert operation in advance? According to Ibn Nr this sort of nonsense is to try and communicate that things are so bad that the US is "going to have to react". This is to add credibility to the assertions of Russsian hacking. This fuzzy hint by the Veep is to try and convince the US electorate that Russia really is attacking the Democractic party's range of databases many of which are not operational and the records are offline on paper in dusty filing cabinets. Concerning the Podesta emails and the damming confidential statments made by Clinton to her support groups, the most logical explanation is that these were leaked by Democratic party operatives or IT personnel reacting to the unconstitutional treatment of Bernie Sanders by the party in support of Hillary Clinton. The Russian dimension is a convenient diversionary tactic by the Democracts which has no evidential base, designed to fill the media with the imaginary Russian bogey man "fear factor" rather than the content of these damming documents. The well known endemic political bias in the majority of US mainstream media can be left to do the rest by hiding what is in fact going on from the US public thereby undermining transparency, in contradiction to the fundmental aims of a free press.Apeurope authorizes detailed study on the costs & benefits of Brexit
During the Apeurope Annual General Meeting held on 10th October, Group correspondents registered their extreme frustration at the absense of evidence-based positions, on all sides, during the recent European referendum. With the decision to leave the European Union, this lack of clarity continues. The vascillation and delays by all British polictical parties in defining any coherent position is alarming and the posturing of the European Commission officials and some heads of state of Member States is unacceptable. Therefore, in the continued absense of any positive government or Commission action the Apeurope Board has authorized a study on the "Costs & Benefits of the UK leaving the European Union". This study will analyse the sector and foreign trade partner potential opportunities, gaps and impacts arising from the new options that now exist with BREXIT. This has the objective of providing a basis for identifying mutual benefits to the remaining European Union's members and to the UK.
Salt & Vinegar option under BREXIT
Donald Tusk, President of the European Council, assertion that no BREXIT is better than hard BREXIT and that leaving will only leave salt and vinegar. This exposes a behind-the-scenes effort on the part of a wide range of interest groups to try and reverse the UK's decision to leave the European Union.
What is not being accepted is that no one has quantified the benefits of remaining. In the 1980s UK European Commissioner Cockburn commissioned a study called "No Europe". This was supposed to calculate the benefits of being in Europe. The initial study came up with no benefits so the study was repeated, again coming up with no significant benefits. This report was a source of embarrassment and was therefore binned by the Commission. However, the fundamental message of the report was not lost on those who had read the report, especially some members of the UK Conservative party. It should be remembered that Cockburn was a UK Commissioner proposed by the Thatcher government. The bottom line here is that many in Britain know that the European Commission has no bargaining position if a country wishes to leave the EU because it is not possible to quantify the benefits of remaining. Any "hard exit" will prejudice European exporters to the UK. This means trying to punish, or threatening to punish the UK, bordering on economic sanctions, will only hurt Europe. This is why there is a panic in the European Commission.
On the question of foreign investment in the UK drying up with BREXIT, some recent confidential corporate executive conclaves are concluding that the UK's prospects are better outside the EU because the economy will grow faster than the EU as a result of the incremental growth in UK trade with non-EU countries. The organization of negotiating teams, with many members coming from British Commonwealth countries, is impressive and there is a large build-up of trading profiles being prepared, not with the EU, but with a long list of global partners. Whereas the UK started BREXIT with weak negotiation resources the current capabilities have already surpassed the somewhat sclerotic approach associated with the EU Commission typified by secrecy and a very poor public image such as their poorly handled TTIP negotiations.
|The return of the UK fishing grounds|
will be a major economic and social benefit
There is a poorly appreciated fact surrounding the UK regulatory environment for financial services and a long established flexibility in the way the UK-based financial sector handle just about any challenge, sets London apart from any other world financial centre. This has its drawbacks but remains a well known, but seldom admitted, reality. The European Commission dreams that BREXIT will result the global financial centre migrating to Frankfurt, or anywhere else in mainland Europe, but according to traders this is unlikely to come true for the foreseeable future. At the moment European centres do not have the right combination of capabilities, experience and regulatory environments or, frankly, any track record to contemplate substituting London as the global financial centre.
Donald Tusk does not appear to understand that the British have a preference for eating fish and chips with salt and vinegar and this tradition will continue after BREXIT.The Whale in the coming BREXIT talks
In some of the preparatory exchanges concerning the Apeurope Study "Costs & Benefits of the UK leaving the European Union" one delegate pointed out that one of the most shocking give-aways by the Heath Conservative government, when the UK entered the European Union in 1972, was the UK's fishing grounds, amongst the most productive on the planet. This had a significant negative social and economic impact on the British fishing industry. BREXIT provides the damaged UK fishing industry and the UK fishermen the opportunity to regain their former prominent contribution to Britain's Agricultural, Fisheries and Forestry sector by supplying the UK with home-caught fish.
The current catch value, official and unofficial, is around £500 million. Much fish coming to the UK market goes through large EU-based factory ships who simply sell fish caught within these waters to UK fishermen or land the fish for port-side markets. With BREXIT the national fishing communities' income could double to around £1 billion.
The re-establishment of British sovereignty over the former UK fishing grounds would be a major tangible benefit of BREXIT. In preparation to this major benefit it would make sense, in terms of managing the total manageable catch (TAC) to come to agreement with Iceland on management and to only permit EU vessels to fish under license paid to the UK treasury. License income would be used to monitor fish stocks and prevent abuse arising from unacceptable catching practices such as avoiding catching and killing very young fish needed to grow stocks for the sustainability of the industry.
This could become the Whale in the BREXIT negotiation fish tank when discussions get going. Several countries, France and Spain and indirectly The Netherlands, have much to lose with this aspect of BREXIT. The solution, of course, is for EU Commission and other Member State heads to stop their talk about punishing Britain for BREXIT but to come to a satisfactory settlement of things like this; there are many more to come and Emancipation News will be setting these out here.US foreign policy is a ridiculous "Show Time" for gullible media; little credibility remains
The sheer hypocrisy of the histrionics of the USA UN ambassador and the lack of logical argument of the US State Secretary and the absurd off stage statements by leading US military figures is ridiculous. We witness a bunch of mavericks playing a high stakes poker game while the Commander in Chief, so-called, seems to be ignored. No one believes that the US attack on the Syrian army was a "mistake" as John Kerry claimed. This attack could be "called off" because it was already "mission accomplished". The terrorist attack on the humanitarian mission was immediately blamed on Syrian and Russian air attacks while the US ignored the drone evidence provided by Russia on the local terrorist vehicle pulling a howitzer. The biggest problem that runs through the US narratives and bluster is a complete lack of evidence to back up accusations relating to Russian actions in Syria, cyber attacks on some disparate Democratic Party servers and events in the Ukraine. However, the evidence that does exist supports the emerging truth that the US foreign policy is barbaric, currently protecting rapists and beheading terrorists who run a sex trade based on innocent women, selling them through online sites by having their so-called "moderates" iter-mingle with these terrorists in civilian areas to protect them from attack. The latest show by these hypocrites has been in the Security Council of the UN to demand "investigations" into war crimes. The burning alive of innocents by US repeated attacks on the hospital in Kunduz in Afghanistan and the recent attack by Saudi Arabia killing 150 individuals in the Yemen are war crimes.
White Helmets in Syria alleged to be phony NGO, involved in staged propaganda, funded by UK government, with HQ in Turkey
Journalists who have recently visited Syria report that the White Helmets who feature in many media in the West saving children following "attacks by the Syrian government or Russians" are closely embedded in the terrorist groups and only work in the areas occupied by the same. It is alleged that they have a budget of something like $100 million and employ about 3,000 individuals who are involved in staged, heavily edited, videos designed to accuse either the Syrian government or Russians of atrocities. It is further alleged that the White Helmets and heavily armed off camera, have been involved in killing Syrian Civil Defence personnel and raiding and stealing their equipment and mopping up after beheadings and executions by the terrorist organizations. These allegations are so serious that the British Government needs to be asked to explain why they waste public funds on such an organization closely involved with ISIS and Al Quaeda and others and organized to mislead the British public with distorted propaganda.
How bad Fed decisions triggered the financial crisis
Criticisms have been leveled at banks for selling mortgages to people who were at risk of defaulting. Central Banks have a responsibility to monitor any such exposure as a fundamental input to interest rate policy. The Fed had maintained an interest rate range of between 2% and 5% up until 2005. It is evident that with this history,
if people buy into loans at 2% there is always the risk that interest rates will more than double if rates go up to 5%. If mortgagees are fully stretched at 2% they will default at 3% or 4%. This is clear. In spite of the well known growth in mortgage lending during 2002 through 2004 when interest rates were reduced to less than 2%. However, by 2005 Fed had doubled rates up to over 4% and then in 2006 raised rates to 5.25% in June a 300% increase over June 2004 (1.25%). This massive rise cause the precipitation of the sub-prime mortgage defaults. The contagion was spread by mainly US banks creating derivatives from the sub prime mortgages and mis-classifying then as AAA and purposely dumping these on the markets where a large number of European banks fell into the trap of purchasing them without looking at the fundamentals already in train. It is notable that the LIBOR rates began to rise in early 2008 as some banks saw this as an illicit means to serve their interests in increasingly precarious times.
In the end the lax extra-constitutional financial authority arrangements in relation to bank regulations and the lack of oversight of the derivatives grey markets by Central Banks, set the conditions a financial disaster caused largely by poor management standards, no checks and balances deployed by central banks and the corporate greed of banks. Unfortunately a lack of political leadership did not resist the call for bank bail outs ending up with governments arbitrarily confiscating money from their constituents to compensate banks and bankers for their inept management decisions. The public have paid the price that bankers should have paid. The price is austerity policies while banks are provided with cheap money which is not flowing to investment and the real economy. This disastrous "monetary policy" of quantitative easing has led to falling investment and real incomes and the levels of financialization increasing causing asset bubbles and stock market booms as a result of corporations purchasing their own shares to benefit executive incomes. The associated share prices have no relationship to the fundamentals of corporate performance. The massive over-exposure of the financial markets to derivatives that rely on low interest rates to generate a margins has created a "sub-prime financial sector", now more in debt than in 2005/2006. This is why central banks are unable to raise interest rates. Central banks now understand the lessons of 2004 through 2005 but don't want to admit it. A move in interest rates from 0.25% to 1% would represent a 300% rise and this would cripple many major financial institutions and cause yet another financial crisis.Britain's unusual social transition that could become a revolution
In the last year Jeremy Corbyn was elected as the unexpected leader of the Labour party and a referendum on the EU resulted in the BREXIT vote to be closely followed by the re-election of Jeremy Corbyn as the expected leader of the Labour party with an increased mandate. Given the dreary media coverage of Jeremy Corbyn and general criticism leveled against him it is worth noting that since his first election the Labour party has amassed a membership larger than all of the other UK political parties put together. The Labour party has become the largest political party in Europe. The unusual aspect about this transition is that in Europe, party growth has been taken up by parties who have been set up as alternatives to the conventional parties. In Britain the growth and expression of resentment against conventional parties has been a embodied by a rejuvenated Labour party returning to its roots. It is not certain how long this drive for membership will continue but is very significant. Even if it is claimed that people only joined to vote for Corbyn therein lies an important message, either way, Jeremy Corbyn is gathering a general approval. The more this process continues the weaker will become Corbyn's main rivals in the form of Blairites and others in the Parliamentary Labour party who see politics purely in terms of affording them power and status; they need to pay more attention to the swell of the social movement that is contributing to the increasing numbers of members of the Labour party. There is a need to switch emphasis from elitist and exclusive think tank cliques and secretive "cabinet" or sofa style decision-making involving a handful of politicians leading to top down impositions on the majority. There is a need to return to the old English idea of the constitutional debates involving the people and that ranged in the 17th Century giving rise to the to bottom up identification of constitutional principles that have never been bettered. At the moment, it looks as if the only political party likely to deliver this revolutionary approach is the currently expanding Labour party.