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Pentagon reveals $10 billion arms ‘hole’ due to Ukraine – media

RT | March 12, 2024

The Pentagon wants the US Congress to allocate $10 billion to compensate for weapons it has delivered to Ukraine and to replenish its own stocks, American media reported on Monday citing senior officials.

Unless the deficit is covered, the “ongoing hole” will put a strain on the US military itself, one source told Politico. The White House has requested over $60 billion in supplemental Ukraine assistance, but the Republican-controlled House has stonewalled repeated calls by US President Joe Biden to release the money.

The official said the “big funding piece waiting in the supplemental” needs to be approved for the US arsenal to be replenished. Otherwise “it would come back on our own readiness, on our own stockpile, to a certain extent.”

The $10 billion shortfall was created due to the differences between the listed value of weapons drawn from stockpiles and the cost of replacing them with new ones. For instance, if older munitions are sent to Ukraine, the Pentagon will replace them with a newer and more expensive version.

Politico was among the first to report the story, saying the remarks were made on condition of anonymity. Voice of America later confirmed the deficit issue, citing Deputy Secretary of Defense Kathleen Hicks and another unnamed military official.

Last June, the Pentagon announced that it could deliver additional weapons to Ukraine, after realizing that the cost of stockpiled arms was lower than it thought. It said it was free to provide an extra $6.2 billion in aid under its existing authorization thanks to the re-evaluation.

By the end of last year, the Biden administration had provided more than $75 billion in cash and equipment for Ukraine’s war effort, by far surpassing other Western donors. The deliveries stopped after the Congress-approved money pot ran dry, the White House said in mid-January.

The anonymous source said the Pentagon still had the authority to send $4.4 billion worth of aid to Ukraine, but Defense Secretary Lloyd Austin has been “reluctant” to tap into that fund, according to Politico.

March 12, 2024 Posted by | Economics, Militarism | | Leave a comment

GOD IS UNDERWRITING ISRAEL’S GENOCIDE BOND

SO THE US SECURITIES & EXCHANGE COMMISSION & GOLDMAN SACHS AGREE GENOCIDE IS NO SECTION 17(A) FRAUD ON BOND INVESTORS

By John Helmer | Dances with Bears | March 10, 2024

Last week it happened that God and the United States Treasury managed to underwrite a record issue of Israel Government bonds to continue the war against the Arabs in Gaza, West Bank, Lebanon, Syria, Iraq – and Iran if necessary.

The war financing comprised $2 billion of five-year bonds, and $3 billion each of 10 and 30-year bonds.

The US Treasury guarantees bond holders that if Israel defaults on repayment of its obligations, the US will pay instead. Notwithstanding this, the Israelis were obliged to offer an extra 1.35%, 1.45%, and 1.75% more in interest over the going rate for US Treasury bonds for the same length of term.

The Reuters news agency headline on March 6 celebrated “Israel sells record $8 billion in bonds despite Oct 7 attacks, downgrade”. The propaganda agency based in New York quoted Israel’s Accountant-General as claiming the bond placement “results showed an “unprecedented expression of confidence in Israel’s economy by the world’s largest international investors”.*

In fact, according to well-informed bond trade sources in Europe, with the higher interest rates the market has just demanded from the Israelis, the spread between the Israel bonds and US Treasuries has never been wider, and the worse this spread will become for Israel. This is a vote of no-confidence from the market which the Israelis, the Americans, and their media are trying to keep secret.

The longer the war is protracted, the more obvious the costs of Israel Defence Forces’ (IDF) failure will become – and the deeper the negative bond sentiment will grow. By converting secrecy into money, the market is signalling that it has begun to turn against Israel – and profit at Israel’s expense.

Also unprecedented is the secrecy in which the “expression of confidence” has been managed by the US, French, and German banks acting as managers of the Israeli bond issue;  and of the US Securities and Exchange Commission (SEC), which has had regulatory oversight of the process. The debt financing has been reported as a “private placement”; this has removed the requirement that the Israelis produce a public prospectus explaining how they think their war – plausibly genocide, according to the International Court of Justice in its ruling of January 26, 2024  – is going, and how long the IDF claim it will last.

This does not remove the legal requirement on the two US banks engaged in marketing the bonds to US investors, Bank of America and Goldman Sachs, to submit a formal application for SEC approval of what is called a letter of consent. However, asked to confirm the contents of the letter of consent application for the sale of the Israeli bonds, and its official approval, the SEC has refused to give any answer.

Goldman Sachs was asked the same questions. The bank also refuses to say.

Last October the chief executive of Goldman Sachs, David Solomon,*  issued a personal letter to the bank’s employees claiming the Hamas operation was a “violation of fundamental human values”: Solomon then proposed a $2 million gift of bank funds “to organizations providing critical support and humanitarian relief in Israel”; plus additional bank money, three bank dollars for every one contributed by bank staff making donations under $25, and one for one if the staff contribution was over $25. Asked how much money has been raised for Solomon’s gift to the Israelis, the bank is refusing to reply.

In other words, Israel’s public genocide is a private secret among Americans who are paying for it, and among US government officials responsible for regulating the scheme according to US law.

According to well-informed bond traders, this deal-making is worth in fees to the dealmakers, led by Goldman Sachs, about $100 million.

The following week, the downgrade by the Moody’s rating agency confirmed the inflection in market sentiment against Israel, with worse to come. 

A month ago, Bloomberg’s Israeli reporter Galit Altstein was assigned the job of printing all the  material he could find promoting the sale of the bonds. The headline of his report implied that Israel would be able to finance its war despite the Moody’s downgrade and the longer-term risks in the small print of the Moody’s report.

Source: https://origin.www.bloomberg.com/ — February 11, 2024.

According to Bloomberg, about $58 billion in new debt would be issued this year, up by a third from the prewar year. About 80% of that total is usually raised in the domestic Israeli market; but if Israeli investors lack the funds or are fleeing to safe havens for their money, a much larger percentage of the issue will have to be raised from international investors, most of them in the US. This, conceded Bloomberg’s Israeli informants, would require “private placements, which are typically bought by a few investors at most. Those have been arranged by banks such as Goldman Sachs  and Deutsche Bank.”

“Domestic issuance in the first two months of this year,” Altstein reported for Bloomberg, “is projected to total the equivalent of more than $9 billion, a 350 percent rise from the same period last year… The cost of insuring against an Israeli default — as measured by credit default swaps — is now higher than that for lower-rated sovereigns such as Mexico and Indonesia, indicating some investors are nervous.”

Israeli financial media reporting indicates that the $8 billion in bond sales completed this month were entirely placed outside Israel.

In the money markets, nervousness fetches a rising price; in the case of Israel’s genocide bonds the only way to keep that price rise secret is through private placements. They are operations run by banks like Goldman Sachs which avoid the requirements of issuing a prospectus; obtaining a credit rating from a ratings agency which evaluates the prospectus claims; and making a market with semi-public meetings with investors and answering their questions. What Goldman Sachs does instead, according to those familiar with the bank’s operations, is to “dump the issue in state or institutional pension funds which can be counted on to hold the issue until maturity, and ask no questions.”

But even passive pension fund managers have their fiduciary limits: Israel’s war began to trigger withdrawals from both Israeli state and corporate bonds by Norwegian pension funds last November; by Danish pension funds after the genocide ruling by the ICJ  in January.

An index tracking ten Israeli corporate bonds for the banking, telecommunication, pharmaceutical, and real estate sectors, shows market demand for Israeli debt issues fell in the first month of the war, but then began recovering above the pre-war levels.

ISRAEL BOND INDEX SHOWS RECOVERY FROM WAR STRIKE

Source: https://www.marketvector.com/

By opting for private placement, the Israelis, Goldman Sachs and Bank of America agreed to avoid having to issue prospectus claims about the war against the Arabs which, if truthful, might reveal how false Israeli government claims about the war have been so far; and if false, would create a legal liability for the Israelis and the banks to being charged with a Section 17(a) fraud.

In the US Securities Act, which the Securities and Exchange Commission (SEC) enforces, Section 17(a) “makes it unlawful to ‘employ any device, scheme, or artifice to defraud’, ‘obtain money or property’ by using material misstatements or omissions, or to ‘engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.’ This provision is closely tracked by Section 10b of the Securities Exchange Act and Rule 10b-5, which is used more widely by investors suing for fraud.”

The ICJ ruling against Israel in January has not stopped or even paused the IDF operations in Gaza, the West Bank, or on the northern front with Lebanon. However, the court has established a benchmark for “material misstatements and omissions” in what the Israel bond marketeers can say without running into Section 17(a) fraud litigation. This makes Israel’s war financing riskier and a bond prospectus impossible; it also makes the interest rate cost to the Israelis more expensive. For Goldman Sachs and the other banks engaged, that has meant more profit with higher fees.

Asked what the market was thinking about the private placement of the Israeli paper, a veteran European trader refused to reply. Other traders in Switzerland answered in generalities until  Israel’s bonds were mentioned; then there was stonewalling. “It’s certain there’s an omerta,” a trade source commented. “The Israeli finance ministry has claimed the bond offer drew 400 investors from 36 countries making bids totalling $38 billion. But there is no mention of how the bonds were actually allocated. I suspect there were many token offers and only a few selected buyers got most of the issues.”

The Israeli financial source Globes claims “demand for the issue was led by first-rate strategic investors such as pension funds, insurance companies, hedge funds, and institutions that have been holding Israeli securities for many years.”

A bond trade source at an international institution points out that “when issuing a bond, the lead manager charges a fee. The net proceeds are going to be obviously less. The question is how much is Goldman Sachs charging in fees? This is usually stated in a prospectus but we don’t have that in the Israeli case. If the issue is difficult to place, the lead manager will contract with other banks to share the burden. They will then use a portion of the fees to make a market for the issued instruments and stabilize the pricing. Again this should be disclosed.”

In the results given by Israeli officials to Reuters on March 6,   it was reported that Israel sold $2 billion of five-year bonds, and $3 billion each of 10 and 30-year bonds. “This is unusual,”  the trade source comments. “If you need to restructure your economy you would expect most of the costs will be upfront, with payback from the higher efficiencies or higher profits reimbursing the borrowed funds later. This should not take ten or thirty years, so another calculation is in play.”

He believes the Israel government’s calculation is that the war on the military front is going to get worse, and the economic war for longer than can be acknowledged publicly. “So they are trying to lock in as much money for the long term as they can now, leaving less to pay back in the short term. They say they are aiming to raise $58 billion over this year, but we are already three months in — they have $50 billion still to go. At this rate of timing and at this pricing, they won’t make it.”

“As for the fees charged by a lead manager for an $8 billion debt issue, these can vary depending on several factors including the complexity of the issuance, prevailing market conditions, and negotiation between the government and the lead manager. Typically, lead managers charge a percentage fee based on the size of the offering, often from 0.5% to 2% of the total amount raised. Therefore, for an $8 billion issue, lead manager fees could range from $40 million to $160 million. However, these figures are indicative and could vary based on the specific terms of the deal.”

“I speculate that the fees will be around $100 million. The princes at Goldman Sachs are being rewarded handsomely. We will have to wait and see if they will regret it. The buyers should also be asking the fee question. If there is no answer, then these Israel bonds are not being bought or placed based on financial reasoning. It’s political, ideological, religious.”*

The SEC last published an Israel bond prospectus in June 2018. The amount of the placement is not recorded.

The US Government was identified as the guarantor of the debt paper. “The amount of guarantees that may be issued to Israel under the loan guarantee program may be reduced by an amount equal to the amount extended or estimated to have been extended by Israel for activities that the President of the United States determines are inconsistent with the objectives and understandings reached between the United States and Israel regarding the implementation of the loan guarantee program. Under the program, the United States issues guarantees with respect to all payments of principal and interest on certain bonds issued by Israel. The proceeds of the guaranteed loans may be used to refinance existing debt. Under the $9 billion loan guarantee program, between September 2003 and November 2004 Israel issued guaranteed notes totaling $4.1 billion face value. Israel has not issued any notes under the loan guarantee program since November 2004, and up to $3.8 billion of U.S. loan guarantees (subject to the reductions described above) remains available.”

There has never been a determination by the President that the guarantees should be suspended because of “activities… inconsistent with the objectives and understandings reached between the United States and Israel”. For the Biden Administration, genocide is not an “inconsistent activity”.

The map accompanying the 2018 prospectus shows the occupied West Bank and Golan Heights as subject “to agreements between the State of Israel (the “State” or “Israel”) and the Palestinian Liberation Organization”.  The Golan Heights are legally Syrian territory, and there is no agreement. Gaza is marked separately without explanation – and without an agreement with the Hamas administration of Gaza. According to the document, before the date of the prospectus, Israeli military operations against Hamas in Gaza “did not materially affect the Israeli economy.” To claim this now is not only propaganda, it would be a material misstatement — in SEC terminology, a Section 17(a) fraud.

Click to enlarge view on source: https://www.sec.gov/  — page D-1.

During the marketing of the $8 billion in bonds, there were highly confidential briefings for selected investors. According to Globes, “prior to the offering, Israel’s Accountant General Yali Rothenberg and his team led rounds of extensive meetings in Europe and the US.”

US bond trading sources believe it likely that Goldman Sachs and Bank of America, the two US banks identified as placing the bonds in the US market, sought to protect themselves from what Rothenberg and his Israeli officials said at these meetings, and from later reaction by bond buyers if the war goes longer and much worse for Israel than they were led to believe. A letter of consent seeking approval from the SEC is protective cover from Section 17(a) fraud liability in the absence of SEC review and approval of a prospectus.

Scott Schneider is head of public affairs and press spokesman at the SEC. He speaks for Gary Gensler, chairman of the SEC since 2021.* The SEC was asked by email whether “the widely publicized Israeli government bonds to be issued this year on a private placement basis are subject to SEC supervision to the extent of requiring a formal application for consent to the issues.” He was also asked to say what letters of consent have been approved by the SEC in relation to earlier Israeli issues.

Left to right, Yali Rothenburg, Israel’s Accountant General; Gary Gensler, SEC Chairman; Scott Schneider, SEC press spokesman.

There was no reply to the email, and no reply when the questions were repeated by telephone to the SEC press office in Washington.

When clarification of the letter of consent issue was then requested from Goldman Sachs, the press spokesman in New York, Jen Blackhall, promised a response, but none there came. The stonewalling by Goldman Sachs has also extended to the patsy question asked – how much in charity funds have been donated to Israel on CEO Solomon’s request to his staff last October.

Bond traders in London, Europe, and the US consulted for this story believe that the most reliable indicator that the money markets have begun to turn against Israel can be found in the spread between the interest rates (or yield-to-maturity**) of Israel’s bond issues compared with US Treasuries. For more details, click to read.

COMPARISON OF THE SPREAD BETWEEN 10-YEAR ISRAEL & US BONDS, MARCH 11, 2023-MARCH 11, 2024

Source: https://www.worldgovernmentbonds.com/

The positive-negative spread between Israel’s 10-year government bond yield and the United States’ 10-year Treasury yield indicates when Israel’s yield is lower or higher than that of the US Treasury at that particular point in time.

The source, Worldgovernmentbonds.com, explains: “In the case of government bonds, the yield spread also means credit spread. These countries usually differ regarding credit quality. A positive spread means that the percentage yearly return of one bond over another is higher. For example, if one bond is yielding 5% and another is yielding 3%, the spread is 2%, or 200 basis points (bp).”

What remains unclear is whether the private-placement Israel bonds are included in the charting; if they are excluded, this is an attempt to keep the political and military meaning of the spread from becoming obvious outside the bond market.

The international bond trade source explains: “Until the war, Israel was able to finance itself at a lower cost than the US government, if you look at the 10-year bond spread in basis points [percentage points] between them. Then at the start of the war the situation reverses itself. Israeli bonds lose their advantage. The Israeli government is now having to pay a premium in interest rate over US Treasuries in order to secure buyers. Last week’s reports show that Israel is committing to pay 135 basis points over comparable 5-year US Treasuries, 145 basis points over 10-year Treasuries and 175 basis points over US 30-year bonds.  For comparison, US 5-year bonds currently yield 4.15%, 10-year Treasuries are at 4.16%, and 30-year notes yield 4.30%.”

“Note that the chart is lagging behind the new $8 billion placement, and has not yet registered the widening of the spread against Israel. This is because the chart is based on all bonds which have a residual maturity of ten years, so it is showing an average. This average indicated that Israel’s 10- year residual maturity bonds were trading at a positive spread of 4.9 basis points (100 basis points = one percent) to the US equivalents. Worldgovernmentbonds.com does not provide a listing of the issues included in its calculations, but future charting can be expected to reveal the latest private placements will accelerate the widening of the spread. With $50 billion more in private placements still to go, the cost to the Israelis will become higher than ever before – and the spread will be pushed wider. That is if the private placements are included in the charting.”

“The outcome of the latest Israel government bond issue is nothing for them to cheer about. The previously favourable spread compared to their US Government guarantor has evaporated and now reversed itself. The same goes for the loss of money market confidence in Israel.”

[*] When an international court of law determines that a religious organization like the state of Israel is plausibly genocidal, it is relevant to note the religious affiliations of organizations which may be assisting in the genocide with money or propaganda. For example, the Reuters executive responsible for ethics and standards is Alix Freedman, who is Jewish. The SEC Chairman since 2021 is Gary Gensler, who is Jewish.   The Goldman Sachs chief executive David Solomon is Jewish.
[**] The yield to maturity (YTM) of a government bond is a measure indicating the total return investors can expect to receive if they hold the bond until it matures, taking into account its current market price, the coupon payments, and the time remaining until maturity. For more details, click to read.

March 11, 2024 Posted by | Economics, Ethnic Cleansing, Racism, Zionism, Timeless or most popular, War Crimes | , , , | Leave a comment

Biden’s ‘Nighttime in America’ State of the Union

By Ron Paul | Institute for Peace and Prosperity | March 11, 2024

Last week President Biden delivered a dark and angry speech meant to convince the low percentage of Americans who still feel positive about his presidency that everything is fine and will only get better if he is re-elected for a second term.

Unfortunately we have come a long way from the optimism of a Ronald Reagan, who won a second term partially on the popularity of his “Morning in America” campaign commercials. Reagan was far from a perfect president, but it was that sense of optimism in otherwise difficult times that resulted in a record re-election victory. Biden’s speech, by contrast, was dark and angry, attacking not only his political opponents but even seeming to threaten the Supreme Court!

As constitutional law professor Jonathan Turley observed recently, “In some ways, the State of the Union speech may have died when former Speaker Nancy Pelosi ripped up the address of former President Donald Trump… While many in the media celebrated her lack of decorum and respect, she tore up something far more important than a speech. She shredded decades of tradition of civility and any remaining residue of restraint in our politics.”

We seem to be becoming a nation that would rather scream at each other than listen to each other.

The message of Biden’s speech was that if you do not support the re-election of Joe Biden, you are an insurrectionist and hate America and democracy. Seven years after the launch of the “Russiagate” hoax against then-candidate Donald Trump, it becomes clearer that the line “our democracy” means it’s only democratic when their side gets elected.

It is understandable that Biden is so angry. Despite all the lying with statistics about the economy, Americans can clearly see for themselves how inflation is undermining the standard of living. Of course this is not all Biden’s fault – Republicans in control of the House show little interest in cutting spending – but people generally blame the president for the state of the economy.

We are no better off on foreign policy either. President Biden started his speech by comparing Russian President Vladimir Putin with Hitler, claiming that Putin is “on the march” in Europe just as Hitler was in 1941, and that just as in those days, if he is not stopped in Ukraine he will continue to rampage through the continent. It was blatant fearmongering, based on no evidence. In fact, as Putin told Tucker Carlson just weeks ago, he has no interest in taking the war beyond Ukraine. But Biden is determined to spend another $61 billion on the failed proxy war in Ukraine and he is willing to say whatever he feels necessary to get that money.

Biden also introduced a bizarre plan to build a temporary pier on the shores of Gaza so that the US could deliver aid to starving Palestinians. Considering the billions of dollars and tens of thousands of missiles we have shipped to Israel, wouldn’t it just be easier to inform the Israeli prime minister that we would either be delivering aid to Palestinians over land, or else?

In all, Biden’s final State of the Union before the election reveals a president and administration that is out of gas and out of ideas. It also reveals a country deep in bankruptcy – both moral and economic. It is high time for a nationwide movement toward liberty.

March 11, 2024 Posted by | Civil Liberties, Economics | | Leave a comment

Imperial Assisted Suicide

By John Weeks | The Libertarian Institute | March 11, 2024

The United States Imperial Government (USIG) claims to be keeping the peace, underwriting the liberal, rules-based international order and safeguarding the global security architecture. This is not true. What the USIG is actually doing is killing people, helping get lots of people killed, and assisting foreign states as they commit corporate suicide. Israel’s ongoing, “plausibly genocidal” slaughter in Gaza and the West Bank is the latest example of this.

The United States is an empire and empire is murder-suicide. Since 9/11, U.S. soldiers have directly killed more than 400,000 civilians and indirectly contributed to the deaths of more than four million civilians. Meanwhile, more soldiers who served in the U.S. government’s Global War On Terror have committed suicide than have been killed in combat. Four times more.

The American People have not escaped suffering as the USIG and its empire have dished out catastrophic devastation in Afghanistan, Somalia, Iraq, Pakistan, Egypt, Yemen, Libya, Syria, and Mali. The cost of living has exploded. Our infrastructure is in shambles. Public trust in government has collapsed. The military’s “recruitment landscape” is in free fall. And things are so bad at home the government has found a new job: attacking “tent cities” filled with “under-sheltered” people. Murder-suicide.

Then there are the vassal or “client” states. In the propaganda, the empire defends these states from…whatever. But in reality, it helps these states murder people all while creating the conditions for these states to kill themselves. This has been demonstrated recently in Afghanistan (state committed suicide), Ukraine (state is trying to commit suicide) and Israel (state is thinking about committing suicide).

In October, 2001, the USIG invaded Afghanistan and smashed the Taliban-controlled state. In its place was installed a new state with a new military, which Libertarian Institute Director Scott Horton describes:

“The new regime was also largely a coalition government of ethnic minorities, the Tajiks, Uzbeks, and Hazaras, being leveraged against the 40 percent plurality Pashtuns, dominant in the east and south of the country where the Taliban are from.”

This coalition regime could not exist without billions of U.S. dollars in its coffers, U.S. boots on the ground, and U.S. air power in the sky. As predicted by Horton, as soon as U.S. forces began their withdrawal from Afghanistan, the Afghan state (along with its military) immediately killed itself. The Taliban resurrected their state which the U.S. had smashed almost twenty years earlier.

In February 2014, the USIG backed a violent, neo-Nazi led coup in Ukraine. Instead of smashing the entire state, the coup overthrew President Viktor Yanukovych’s administration. Unlike Afghanistan’s anti-Taliban government in a box, the Ukrainian government under new management was capable of existing without a massive U.S. military presence. It was not, however, capable of winning a war with Russia. It took eight years, but the USIG managed to provoke a war with Russia.

Ukraine has been defeated but the imperial wizards in DC refuse to admit this truth and seek peace. There could have been a peace deal two years ago, when it was still fashionable for Americans to fly the Ukrainian flag outside their front doors, but the USIG crushed it. The Ukrainian state is bleeding out and continuing the war at this point puts the entire Ukrainian nation at risk. Russia could seize all of Ukraine and downgrade it from sovereign nation to a Russian aircraft carrier.

Israel has been fortunate to never have its state murdered or regime changed by the USIG. Quite the opposite; Israel has intervened in USIG affairs to a shocking extent. The Israel lobby wields massive influence in Washington DC, so much so that President Joe Biden is risking his re-election chances by refusing to stop producing Israel’s “plausibly genocidal” mass killing spree in Gaza.

This gleeful and live streamed spree of sadism has not been good for Israel. Its state is provoking the global community to view it as a deranged pariah, including the great powers of Russia and China. Even within America, the people want a ceasefire. We want it to stop.

Meanwhile, Israeli society is cracking. Approximately 200,000 Israelis have been displaced from their homes in the south and north of the country. The IDF has suffered thousands of casualties, the economy is destabilized, and fear has blanketed the land.

And now Israel is planning an invasion of southern Lebanon. Such an invasion would be a hoped for but unexpected gift to Hamas. Experts such as Col. Douglas Macgregor, Col. Lawrence Wilkerson, Lt. Col Daniel Davis, Alastair Crooke, John Mearsheimer and Robert Pape have all warned against the invasion. They have argued that Israel risks catastrophic fallout from such a move, from mass causalities to provoking a regional war and even suffering strategic defeat.

Israel supporters seem confident in its security state, despite its massive failure on October 7. Tel Aviv appears to be operating with the assurance that the U.S. military will step in with strike packages and boots on the ground if and when needed. And yes, DC will let American cities die while it views Israel as too big to fail.

But the empire is beset by incompetence and anyone who paid attention to the self-immolation of the Afghan state and the slow suicide of the Ukrainian state knows this isn’t going to end well.

Taiwan, watch your six.

March 11, 2024 Posted by | Economics, Militarism, Timeless or most popular | , , , , , , , , , , | Leave a comment

Musk comments on US attempt to weaken Russia

RT | March 11, 2024

Elon Musk, CEO of Tesla and SpaceX, has agreed with investor David Sacks’ view that Washington’s attempts to weaken Russia have “come true in reverse” and in reality only made it stronger.

Sharing his opinion on the Ukraine conflict in an interview posted on X on Sunday, Sacks called it “Biden’s big backfire.”

“We’ve made the Russian military stronger, it’s larger than it was before, it produces far more weapons, the industrial base is ramped up. Plus it’s now battle-tested and battle-hardened, especially against Western weapons,” he said.

Musk appeared to agree with Sacks, commenting on the post on X: “Unfortunately, this is true.”

Citing the size of Russia’s army compared to Ukraine’s, Sacks stated that Biden has “created” a much more “formidable” Russian military. Meanwhile, it’s the US that has seen its stockpiles “depleted and hollowed out,” he argued.

The economic sanctions on Russia have become another major miscalculation of Biden’s policies, according to Sacks. He believes that the idea to “crush” Russia with sanctions was delusional as the country’s economy stabilized and even outperformed G7 economies in 2023.

“The Russian economy is growing faster than any of the G7 economies. It’s really booming and it’s our European allies’ economies that have been crushed by the sanctions,” he noted.

But it is Ukraine that has been suffering the most from US involvement in the conflict, he argued. He attacked Biden who claimed that the US would “help ease the suffering of the Ukrainians” but in fact, Washington’s support “of this proxy war and our willingness to fight to the last Ukrainian” has led to a “humanitarian catastrophe.”

This is not the first time the two men have been in alignment on such issues. Earlier this month, Musk agreed with Sacks’ statement on X that NATO “faced an existential crisis” after the collapse of the Soviet Union and decided to embark on an expansion spree to fill the void.

The US has been Ukraine’s primary backer and has provided over $111 billion in military and financial assistance. However, in recent months, US aid has subsided drastically as the administration of President Joe Biden has struggled to overcome Republican resistance to its efforts to push through another $60 billion for Ukraine.

Meanwhile, Moscow has said that the US and its allies who continue to arm Ukraine cannot prevent Russia from achieving its goals and are only prolonging the suffering of Ukrainians.

March 11, 2024 Posted by | Economics, Militarism | , | Leave a comment

Trump has plan to end Ukraine conflict – Orban

RT | March 11, 2024

Donald Trump intends to end the Ukraine conflict, if reelected as US president, and has a “detailed plan” to do so, Hungarian Prime Minister Viktor Orban told local media, after meeting the presumed Republican nominee.

The former US leader repeatedly claimed on his campaign trail that, if he had remained in the White House for a second term, there would be no hostilities between Moscow and Kiev. If voted back in, he promises to end the conflict “in 24 hours” by applying pressure on stakeholders.

Orban, who spoke with Trump at the Mar-a-Lago estate in Florida on Friday, did not explain how exactly the American would do that, but said that cutting the flow of US aid was a crucial part of the plan.

”If the US will not provide the money, Europeans on their own will not be able to finance this war, and then the war will end,” Orban said in an interview with M1 broadcaster on Sunday.

During his presidency, Trump had shown himself to be “a man of peace,” the Hungarian leader claimed. That stance puts him in alignment with Hungary, unlike the administration of US President Joe Biden and many members of the EU, he added.

”The American Democratic government and the leadership of the EU, as well as the leadership of the largest EU member states are pro-war governments. Donald Trump is pro-peace, Hungary is pro-peace. At the bottom of everything lies this difference,” Orban declared.

The Kremlin declined to weigh in on the remarks, with spokesman Dmitry Peskov saying on Monday that Orban’s account of Trump’s intentions was too vague for any specific commentary.

Ukrainian President Vladimir Zelensky previously expressed skepticism about Trump’s ability to deliver on the promise. He said if the plan was feasible, the American politician should share it with the public, or at least with Kiev. The Ukrainian government claims that a “just peace” requires a military victory over Russia and that it would agree to nothing short of that.

Moscow has said that its strategic goals in the military operation against Kiev will be achieved one way or another. The US and its allies, who continue to arm Ukraine, cannot change that outcome and are only prolonging the suffering of the country’s people, Russian officials have stated.

March 11, 2024 Posted by | Economics, Militarism | , , , , | Leave a comment

“WHAT THE NURSES SAW” NOW A MAJOR MOTION PICTURE (WELL, A SHORT VIDEO)

For more info go to www.WhatTheNursesSaw.com

Based on the book by Ken McCarthy.

Artwork by Anne Gibbons.

Video editing by Paul Morrison and Ken McCarthy.

BRASSCHECK

So what about “What the Nurses Saw”?

Over 7,000 copies sold so far. Not only that, the book is now being circulated among staff in TWO different U.S. Senators office: Rand Paul of Kentucky and Ron Johnson of Wisconsin.

What the Nurses Saw
You can order the book here

March 11, 2024 Posted by | Book Review, Timeless or most popular, Video, War Crimes | , , | Leave a comment

New York’s Attorney General Makes A Fool Of The Governor

By Francis Menton | Manhattan Contrarian | March 2, 2024

Two weeks ago, on February 16, in a case brought by New York Attorney General Letitia James, Justice Arthur Engoron of the New York State Supreme Court issued his decision ordering Donald Trump to pay some $355 million of “disgorgement” penalties. The stated basis for imposing these extraordinary penalties was Trump’s supposed “fraud” of exaggerating the value of some of his properties on financial statements submitted to a bank. No one had been damaged by Trump’s conduct, and the bank in question had neither complained nor sought any relief; however, the Attorney General asserted, and the judge agreed, that a legal basis existed for imposing the penalties under New York’s Executive Law Section 63(12), which allows the AG to prosecute “persistent fraud or illegality” without need for showing traditional elements of fraud like intent and damages, let alone a victim.

The issuance of Justice Engoron’s decision brought forth an immediate reaction from many quarters (Manhattan Contrarian ). James had campaigned for office on a platform of “getting Trump,” a major political adversary, and had sought and obtained penalties far larger than any previously awarded under this statute, for conduct far less egregious. If the AG can use a broad statute to target a politically-disfavored individual like Trump in this way, how could any person doing business in New York think they are safe from similar legal abuse?

Recognizing the problem, our lightweight Governor Kathy Hochul went on a radio talk show on February 18 in an effort to reassure the New York business community. RealClearPolitics on February 19 has an audio clip and a partial transcript of Governor Hochul’s remarks. The key line was that Trump’s case was an “extraordinary, unusual circumstance,” and therefore “law-abiding and rule-following New Yorkers . . . have nothing to worry about because they’re very different than Donald Trump and his behavior.”

Law-abiding New Yorkers “have nothing to worry about”? Really, Governor Hochul? AG James waited all of ten days before making a complete fool of Hochul. On February 28 James dropped her latest over-the-top politicized case. The new target is something called JBS USA Food Company Holdings — the U.S. subsidiary of the world’s largest producer of beef. Here is the AG’s press release announcing the filling of the case; and here is a copy of the Complaint.

The crazed and delusional ambition evidenced in this case is even wilder than what was just seen in the Trump case. This time we’re not just going to keep a hated politician out of office; we’re going to save the planet!

From the press release:

JBS USA has claimed that it will achieve net zero greenhouse gas emissions by 2040, despite documented plans to increase production, and therefore increase its carbon footprint. Beef production emits the most greenhouse gasses of any major food commodity, and animal agriculture accounts for 14.5 percent of annual global greenhouse gas emissions. In 2021, the JBS Group, JBS USA’s global parent company, reported total global greenhouse gas emissions of over 71 million tons, more than the total emissions of some countries. Attorney General James seeks to stop JBS USA from continuing these false and misleading marketing practices, pay disgorgement of all ill-gotten profits, and penalties.

The heart of the alleged “fraud” is JBS’s claim that it plans to achieve “net zero” greenhouse gas emissions by 2040. From Complaint, paragraphs 6 and 7:

6. Across its marketing materials, the JBS Group has made sweeping representations to consumers about its commitment to reducing its greenhouse gas emissions, claiming that it will be “Net Zero by 2040.”

7. The JBS Group, however, has had no viable plan to meet its commitment to be “Net Zero by 2040.”

And from there, this case then turns into Trump 2.0. They have learned how to do this in the Trump case and they are following the form. Like the Trump case, this case is at least in theory civil, rather than criminal. The main legal basis? You guessed it — Executive Law Section 63(12). And the main relief sought? You guessed it again — “disgorgement.” Hey, if they can draw Engoron as the judge they might get an order requiring JBS to “disgorge” all of its revenues for the last 20 years. This time it will be in the multi-billions of dollars. That’ll teach them!

And so, Governor Hochul, is there anything “extraordinary and unusual” about JBS? Definitely not, any more than there was about Trump. Surely now every other beef company is in line for the same treatment, and every other food company right after that. And why stop there? Every company that has made any kind of promises of “net zero” by some far out date will be an obvious target. That’s a very large numbers of companies. And even the ones who haven’t promised “net zero” have almost always made some kind of promise of greenhouse gas reductions, none of which are achievable in the real world.

And guess what entity has made the most extreme promises of “net zero” that can’t possibly be met? That would be the State of New York. As discussed here in many prior posts (examples here, here and here), New York in 2019 adopted a Climate Act, committing the State to “net zero” emissions by 2050, and in 2022 adopted a Scoping Plan supposedly laying out how we are going to get there. But the Scoping Plan is completely delusional and deceptive, and does not come remotely close to setting forth a realistic way to get to net zero. It’s just like the delusional JBS promises!

So, Attorney General James, when are you going to bring your case under Executive Law 63(12) against New York State? I think you should demand “disgorgement” back to the taxpayers of all taxes paid at least since 2019, when they started making these fraudulent promises.

Meanwhile, it is high time for the business and legal communities of New York to start calling out our Attorney General for completely politicizing and degrading her office. You corporate CEOs and law firm leaders — do you think that if you just lie low the crocodile will eat you last? Your tolerance of this politicized AG is completely shameful.

March 10, 2024 Posted by | Civil Liberties, Economics | | Leave a comment

Syrian FM: ‘Western leaders are little puppets of the Zionist enemy’

Al Mayadeen | March 10, 2024

Syrian Foreign and Expatriates Minister, Faisal Mekdad, emphasized that what is happening in Gaza is a genocide perpetrated by Israeli Prime Minister Benjamin Netanyahu, who has killed over 12,000 children and 8,000 women, and completely destroyed the Gaza Strip.

In a statement on the ministry’s X account, Mikdad said “What European Union strategists say about building a world based on rules and regulations has faded. The murderer Netanyahu has not left any rule unbroken: International law, international humanitarian law, the Universal Declaration of Human Rights, the United Nations Charter, children’s rights, women’s rights, democracy, disarmament, and peace.”

He continued to say what is more dangerous than Netanyahu and his ruling “gang’s” crimes, is the support he received from many EU leaders and the blind trust Washington has given him.

“Everyone knows that much of what the European Union leaders did before and after was a form of clowning, hypocrisy, and lies, and their defense of Netanyahu’s crimes led to pulling the rug from under all of their feet and showed them as they really are, little puppets in the hands of Zionism and enemies of peoples’ rights and aspirations,” he said, slamming the West.

March 10, 2024 Posted by | Ethnic Cleansing, Racism, Zionism, War Crimes | , , , , , , | Leave a comment

Zionist Jews in Biden administration calling the shots on Israeli war on Gaza

By Ivan Kesic | Press TV | March 10, 2024

One of the key but underreported factors of the unwavering US support for the Israeli genocidal war on Gaza is the overwhelming presence of Zionist Jews in the Joe Biden administration.

These Zionist Jews exert enormous influence in the American power corridors and enjoy unconditional support from the US president who has on numerous occasions boasted of being a “Zionist” himself.

The presence and influence of Zionist Jews in the White House has always been a point of discussion, however, since the events of October 7, it has manifested itself in many ways.

Biden administration’s vetoes of ceasefire resolutions in the UN Security Council, which drew widespread condemnation from pro-Palestine groups, rekindled the debate about the Zionist influence.

Raising the issue of the dominance of Zionist Jews in the US administration and policy circles is often seen through the prism of “anti-Semitism” in the West, even though the same people paradoxically like to boast about the disproportionate number of Jews in other fields.

The Zionist Jewishness of Biden’s cabinet was pointed out recently by The Forward, a progressive media for a Jewish American audience, as well as the Israeli right-wing newspaper Times of Israel.

Being a Jew should not be seen as a problem, but those in the Biden administration have clearly exhibited the tendencies of Zionism – not only justifying the Israeli regime’s genocide in Gaza but also lobbying for more financial and military aid to the occupying regime.

There are also non-Jewish Zionists whose support is motivated by Christian Zionism or belonging to pro-Israel lobbies, a common case in the ranks of the Republican Party.

The problem lies in the fact that everyone in the Biden administration is a radical Zionist who will uncompromisingly justify Israeli war crimes, with slight disagreements over relatively minor issues, such as illegal Israeli settlements in the occupied West Bank.

In the American mainstream media, voting in the UN Security Council and supporting the genocidal destruction of Gaza is treated as common sense and a natural course of action.

Biden made no secret of his Zionist inclinations, uttering the words “I am a Zionist”. And he has proved it through numerous pro-Israeli activities in his decades-long political career.

One of them is the placement of Jewish Zionists in top positions in his administration, which at the beginning of 2021 evoked a popular joke on social networks that the West Wing would have a “minyan.”

The Hebrew term “minyan” means the minimum number of males (10) required to constitute a representative “community of Israel” for liturgical purposes.

Biden’s initial lineup includes Anthony Blinken as Secretary of State, Merrick Garland as Attorney General, Avril Haines as Director of National Intelligence, Ronald Klain as White House Chief of Staff, Rachel Levine as Assistant Secretary for Health, Alejandro Mayorkas as Secretary of Homeland Security, and Janet Yellen as Secretary of the Treasury.

One level down are David Cohen as Deputy CIA Director, Eric Lander as science and technology adviser, Ann Neuberger as Deputy National Security Adviser, and Wendy Sherman as Deputy Secretary of State.

In the meantime, Victoria Nuland took the position of Undersecretary of State for political affairs, Ed Siskel as White House counsel, and Klain was replaced by Jeff Zients as chief of staff.

Others appointed by Biden include Daniel Shapiro as a special liaison to Israel on Iran, Ned Price as spokesman for the Department of State, Jennifer Klein as executive director of the White House Gender Policy Council, as well as a large number of ambassadors.

The Zionist envoys include Michael Adler, David Cohen, Rahm Emanuel, Eric Garcetti, Mark Gitenstein, Amy Gutmann, Jonathan Kaplan, Yael Lempert, Alan Leventhal, Randi Levine, Jack Lew, Jack Markell, Constance Milstein, Marc Nathanson, Marc Ostfield, David Pressman, Daniel Rosenblum, and Marc Stanley, among others.

Blinken, the top American diplomat, comes from a Zionist family. His grandfather Maurice was one of the early American Zionists and the founder of the American Palestine Institute, in the years before the declaration of the Zionist entity.

His institute funded economists to prepare a report on the economic viability of such an entity and lobbied Washington to politically support its creation.

Following Blinken’s appointment as the top US diplomat, replacing Mike Pompeo, the Israeli media praised his and Biden’s close relations with Tel Aviv during the Second Intifada in the early 2000s, noting their “lifelong support for Israel and its security.”

During the Obama administration, Blinken often justified Israeli aggressions in the region with the hackneyed phrase “the right to self-defense” and praised Trump for strengthening Israel’s regional alliances.

He was a close confidant of the Israeli ambassador to the US Ron Dermer who could call him in the middle of the night for pro-Israeli services, such as lobbying hard to have Israel’s Iron Dome air military system financed with American taxpayer money.

In his first days in office, he also made it known that the new Biden administration would support earlier Trump’s decision and keep the American embassy to the occupied territories in occupied al-Quds.

Last year, during the bickering between Biden and Netanyahu, Blinken pledged enduring US ties with Israel, seeing it as a far more important ally than NATO member Turkey.

As for Mayorkas, even the Israeli media boasted of his strong family ties to Tel Aviv and praised him for the data-sharing pact between the United States and the Zionist regime.

Even greater Zionist credit for intelligence sharing goes to CIA deputy chief David Cohen, whose career under Obama focused on sanctioning Israel’s enemies.

Thus, it is no surprise that Americans are bankrolling the genocide of Palestinians in Gaza while harping about ceasefire and aid airdrops to hoodwink the international community.

March 10, 2024 Posted by | Ethnic Cleansing, Racism, Zionism | , , , , | Leave a comment

SENATOR RAND PAUL: EXPOSING THE COVID COVER-UP

The Highwire with Del Bigtree | March 10, 2024

Del sits down with one of Anthony Fauci’s biggest adversaries, Senator Rand Paul. Hear how his perspective as a physician and politician led to holding Fauci to the fire on his cover-up of gain-of-function research, his push for draconian lockdowns, and refusal to accept the strength of natural immunity against COVID. His new book, Deception: The Great Covid Cover-Up, reads as a forensic investigation, chronicling the disastrous failure of government and public health during the pandemic.

March 10, 2024 Posted by | Militarism, Science and Pseudo-Science, Timeless or most popular, Video, War Crimes | , , | Leave a comment

Fearful Electioneering Turbo Charges Western Warmongering

Strategic Culture Foundation | March 8, 2024

Western states are facing an acute political crisis whereby their established governing parties and leaders are fighting for survival amid a grave loss in legitimacy in the eyes of their electorates.

In the United States, incumbent President Joe Biden is vying for reelection in November with historically lowest poll numbers ever for an occupant of the White House.

Meanwhile, across the European Union, governing parties and leaders are braced for a drubbing from parliamentary elections in June.

The roots of this unprecedented loss of legitimacy among Western political establishments are manifold. But surely one cause is the rank hypocrisy of Western leaders that has now been laid bare. How can political figures expect to have any moral authority when they are seen to be inveterate liars and shamelessly corrupt?

Western governments and their servile media lecture about “democracy”, “human rights” and upholding “law and order”. They claim to be motivated by such principles in their support of Ukraine against alleged Russian aggression. Yet these same governments are complicit in the genocide of Palestinians in Gaza through their unwavering support for the Israeli regime.

Western leaders have been fatally exposed and compromised by the conflict in Ukraine and Gaza. The contradiction is terminal.

That’s not just because of the blatant double standards and duplicity. Western voters are increasingly disgusted by the relentless financial and military support funneled into Ukraine to prop up a scamming regime comprised of NeoNazi ideologues. Under Joe Biden and the incumbent European politicians, the West has flooded Ukraine with weapons and hundreds of billions of dollars in what is the biggest war racket ever.

This is while Western populations, workers, farmers, and businesses are hard-pressed with numerous social and economic burdens.

Western governing parties are rightly seen as elitist and serving powerful minority oligarchic interests such as the military-industrial-corporate-financial nexus. Their declared vows about democracy are a contemptible joke.

The war in Ukraine is increasingly understood by voters to be a disastrous proxy war of choice that was pushed by U.S. and Western imperial objectives to confront Russia.

Despite the squandering of public money to propagate the war, the U.S.-led NATO axis has lost its “great game”. The proxy war has devastated Ukraine, causing up to 500,000 military deaths in two years, as well as destabilizing the rest of Europe from increased migration, fiscal impact, deindustrialization, and the shattering of agricultural industries.

Western populations are furious with their political leaders for having inflicted such chaos and waste of resources – as well as wantonly provoking tensions in international relations with Russia. Western politicians have pushed the world to the brink of an all-out war between nuclear powers. All this crazed folly is based on utter lies and deception – as the horror of Gaza and Western complicity illustrates.

In this cauldron of electoral revolt, Western political leaders are only digging a deeper hole for their eventual collapse.

American President Joe Biden in his State of the Union address this week made a disingenuous pitch to voters. He portrayed the world as facing an existential crisis from Russian “tyranny” and simultaneously claimed the fate of US democracy was under threat from his election rival Donald Trump.

In a dangerous and desperate move, Biden is conflating Trump with alleged Russian aggression. The Democrat president is fighting for political survival against Republican presumptive nominee Trump primarily because Biden is so deeply unpopular among American citizens. To boost his election prospects, Biden is making out that the country is facing an “inflection point” that requires rejection of Trump because he is “bowing down” to Russia.

Trump and many within the Republican Party are opposed to continuing the proxy war in Ukraine, recognizing that it is futile.

Biden and the Democrats, who are more aligned with the U.S. foreign policy establishment, are therefore trying to make the election about an existential “defense of world democracy and peace”. Biden claimed in his State of the Union address that if the U.S. does not supply Ukraine with another $60 billion more in military aid then Russia will overrun the rest of Europe. Biden even invoked the memory of Roosevelt supposedly facing down Nazi Germany in 1941.

Meanwhile, in Europe, the same warmongering high-stakes ruse is being pushed by French President Emmanuel Macron. Macron is calling for the deployment of NATO ground troops in Ukraine to prevent a Russian victory and an alleged threat to the rest of Europe.

The French head of state has become almost hysterical in recent weeks with war talk. He told other French political leaders this week that there would be “no limits” to France’s support for Ukraine against Russia.

What’s lying behind Macron’s belligerent rhetoric are his fears of political defeat from opposition parties in the forthcoming EU parliamentary elections. It is not just Macron who is anxious. All incumbent European leaders are dreading an expected widespread revolt by the electorate.

That is why the French president and his ruling-class ilk like European Commission President Ursula von der Leyen and German Chancellor Olaf Scholz are seeking to dominate the public narrative with war talk and the alleged danger of Russian expansionism.

The irony is that the more the Western establishments pursue militarism and war in Ukraine the worse their states become from economic mismanagement and the more their legitimacy sinks into the gutter. They are seen more and more as a warmongering clique that has not a shred of ethical concern because of their reckless warmongering in Ukraine and their despicable complicity in the genocide in Gaza.

Elections in Western states are over-rated. As the saying goes, if voting changed anything, it would have been banned years ago. The array of current opposition figures and parties facing incumbents is not going to deliver any solutions to the endemic problems of Western systemic failure. Nevertheless, the forthcoming U.S. presidential election and the European parliamentary ballots are shaping up to deliver grievous blows of repudiation to the political establishments.

To offset the political doomsday, charlatan Western leaders like Biden, Macron, Scholz, and Von der Leyen are doing their last-ditch best to talk up war with Russia and the “threat to democracy” as a way to burnish their electioneering efforts. But such cynicism is not turbocharging their prospects. It will backfire.

The U.S.-led NATO proxy war in Ukraine is facing a historic debacle from defeat. But that makes the desperate reaction by Western incumbents scurrying for political survival a dangerous time in the next few months.

Contact us: info@strategic-culture.su

March 9, 2024 Posted by | Ethnic Cleansing, Racism, Zionism, Militarism, Progressive Hypocrite, Timeless or most popular | , , , , , , , , | Leave a comment

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