War

EU climate emergency vote is way worse than you think

What took the group thinking EU so long? What better way to justify more taxation and wealth redistribution than to declare a “climate emergency”? What you are about to read is a perfect explanation of how little credibility exists in the European Parliament (EuroParl).

In black and white, EuroParl noted,

EU countries should at least double their contributions to the international Green Climate Fund, Parliament says. EU member states are the largest providers of public climate finance and the EU’s budget should fully comply with its international commitments. They also note that pledges by developed countries do not meet the collective goal of 100 billion USD per year as of 2020…Finally, they urgently call on all EU countries to phase out all direct and indirect fossil fuel subsidies by 2020.

Now, this is where it gets curious. Take a look at this file (from page 8) and ask yourself, how many amendments to resolutions within the “climate emergency” conversation were rejected supporting the overall declaration passing 429 in favour, 215 against, 19 abstaining?

Here is one amendment that was rejected 95, 563, 9 by MEPs (you can’t make this stuff up),

Recalls that climate change is one of the many challenges facing humanity and that
all states and stakeholders worldwide must do their utmost to measure it
scientifically so that policy, and especially spending, is based on observable facts and not on apocalyptic fearmongering or unreliable models; emphasises that there is
no scientific consensus on what percentage of climate change is anthropogenic and
what percentage is natural

Seems fair enough! Basing decisions affecting 550 million constituents on real hard data is the right thing to do, no? Clearly not. Shut up and follow the religious cult and demand followers cough up twice as much into the collections pot. The lobbyists must be well pleased.

Or,

“Text as a whole without the words: ‘urgently’, ‘and implement’ and ‘to net-zero
emissions by 2050″ defeated 101, 555, 15.

Isn’t it striking that the majority of MEPs won’t even consciously vote in favour of making sure funds are spent appropriately? Nope, bow down and shut up. Otherwise face being cut off as we get to observe from the EuroParl documents below.

This is what an MEP from Northern Ireland, Claire Fox, had to say,

Madam President, I voted against the climate and environmental emergency motion because I’m really concerned at the hyped-up anti-science scaremongering that’s terrifying young people, telling them that billions will die, that there’ll be a collapse of civilisation, a lot of the rhetoric coming out of Extinction Rebellion and echoed in the debate over the last few days. I think that the fact that we voted against an amendment today that said that we should be committed to bringing the environmental subject back to rational discussion, and we rejected it, admits that actually, we’re having an irrational discussion. This becomes advocacy and propaganda, rather than science. There’s no scientific evidence from the IPCC or anyone else about the extinction of humanity, and we should be very careful about claiming that anthropological climate changes cause floods and droughts, which we have been doing quite casually during the last few days. In fact, the IPCC says that such issues are probably caused by socio-economic conditions, and we forget socio-economic conditions too much and demand, in fact, as this Parliament has done, decarbonisation, which will lead to eco-austerity, massive price hikes in energy, and ordinary working people paying the cost for scaremongering and...

(The President cut off the speaker)

or another Northern Irish MEP Robert Rowland,

Madam President, I’d just like to reiterate what my colleague said. I also rejected the COP24 resolution. I may not be an Economics Professor, but I do profess to understand economics. They also call it the dismal science, but when it comes to the climate emergency, I would describe the apocalyptic forecasts as nothing but science fiction. The adoption of these policies today, and the aim of carbon neutrality by 2050 is nothing short of reckless and the most extreme example of economic illiteracy I’ve ever seen. The fact that amendments were rejected demanding a full impact assessment shows rank indifference to the cost and practicality of aggressive climate policies.

One thing I can say for certain is that the impact of net-zero makes the consequence of any form of Brexit look puny by comparison. Dieter Helm, Professor of Energy and Economics at Oxford University, was right when he said: ‘We should be honest that it is a huge industrial undertaking, and it will have significant cost. These are enormous industrial activities, there is nothing in history that looks like this outside of wartime.

In my own country, our own Chancellor has put that cost at over one trillion pounds, or almost 2% of GDP per annum. It is an insane policy.

If the EU truly wishes to make itself even less competitive, in the face of some of the world’s highest electricity prices, they are only self-flagellating in an already flailing economy which continues to slow to 5-year lows. If the EU truly looked at its record since 2007, it would see its policies have delivered 40 million more people into poverty, a number which totals 118 million people, or 23% of the EU population!

If there was ever a bigger load of intellectual dishonesty posted by the EU it would be this. It states that,

Climate emergency declarations in 1,195 jurisdictions and local governments cover 545 million citizens with 53 million of those living in the United Kingdom. This means in Britain now roughly 80 per cent of the population lives in areas that have declared a climate emergency.

The irony if such a statement is that there is no way in the world that 545 million citizens are in agreement within those 1,195 jurisdictions. 53mn Brits? Seriously? In Australia’s case, many declaring climate emergencies have been local green-left councils who have made idle gestures without backing it up with realities. Constituents have not been asked. Windfarm plans for Warringah are not on the agenda.

The greatest irony with the EU is that they classify biomass (which is more polluting than coal) as a renewable and gives it a zero-carbon emission weighting provided a tree is planted per tree burnt. Sadly trees take 40 years to fully grow to be able to offset that produced. However, we will discover that the fine print taketh away the wonderful headlines.

Will the Poles ditch their coal industry to comply or face savage reprisals from Brussels? Will the EU guarantee Poland gets huge subsidies to pay for its termination? Which country would be so blind as to put their livelihoods into the hands of the EU!? The Greeks might have a view as do the Brits.

This action will spectacularly blow up.

By all means ride the short term wave of renewables stocks but be sure to line up all of those nasty fossil fuel companies into the portfolio that get pummeled by financial markets because the type of economic disaster that will beset the EU will only create the conditions where the peons will revolt and force a return to the way things were. Efficient, cheap and reliable forms of energy that will make a proper dent in the poverty line rather than promises and handouts.

The EU needs to learn the lesson that “Charity is injurious unless it helps the recipient to become independent of it.” It won’t be long before the youth of today get to embrace their love for socialism. Experience is a hard teacher. They’ll get the test first and the lesson afterwards.

Completely despicable

Another reason to like Rep Tulsi Gabbard, although she is nowhere in the polls despite her straight talking. If there was a Democratic Party candidate that even marginal Republicans could lean toward she is it.

CNN moderator Anderson Cooper asked what Gabbard thought of Trump’s withdrawal from Syria. The answer he got was a little more pointed than he expected.

Gabbard said,

Well, first of all, we’ve got to understand the reality of the situation there, which is that the slaughter of the Kurds being done by Turkey is yet another negative consequence of the regime change war that we’ve been waging in Syria…

…Donald Trump has the blood of the Kurds on his hand, but so do many of the politicians in our country from both parties who have supported this ongoing regime change war in Syria that started in 2011 — along with many in the mainstream media who have been championing and cheerleading this regime change war…”

…now she gets really serious…

“…The New York Times and CNN have also smeared veterans like myself for calling for an end to this regime change war…Just two days ago, The New York Times put out an article saying that I’m a Russian asset and an Assad apologist, and all these different smears. This morning, a CNN commentator said on national television that I’m an asset of Russia. Completely despicable.”

Pot calling the kettle black?

Image result for nothing to see here

Ukrainian MP Andriy Derkach revealed yesterday that former VP Joe Biden received $900,000 from Burisma Group (the one his son Hunter worked for) for lobbying activities.

Derkach publicized documents which explained the channel of getting those funds. He said,

This was the transfer of Burisma Group’s funds for lobbying activities, as investigators believe, personally to Joe Biden through a lobbying company. Funds in the amount of $900,000 were transferred to the U.S.-based company Rosemont Seneca Partners, which according to open sources, in particular, the New York Times, is affiliated with Biden. The payment reference was payment for consultative services…According to the documents, Burisma paid no less than $16.5 million to [former Polish President, who became an independent director at Burisma Holdings in 2014] Aleksander Kwasniewski, [chairman of the Burisma board of independent directors] Alan Apter, [Burisma independent director] Devon Archer and Hunter Biden [who joined the Burisma board of directors in 2014]“…

Using political and economic levellers of influencing Ukrainian authorities and manipulating the issue of providing financial aid to Ukraine, Joe Biden actively assisted closing criminal cases into the activity of former Ukrainian Ecology Minister Mykola Zlochevsky, who is the founder and owner of Burisma Group…Biden’s fifth visit to Kyiv on December 7-8, 2015 was devoted to making a decision on the resignation of [then Ukrainian Prosecutor General] Viktor Shokin over the case of Zlochevsky and Burisma. Loan guarantees worth $1 billion that the United States was to give to Ukraine was the point of pressure. Biden himself admitted exerting pressure in his speech at the Council of Foreign Relations in January 2018, calling Shokin ‘son of a bitch who was fired.”

Derkach added that international corruption of this magnitude couldn’t have taken place without the participation of then Ukranian President Petro Poroshenko.

International corruption of this magnitude, as well as interference in the U.S. presidential election, could not have occurred without Poroshenko’s participation

…We see the conflict in which the new government of Ukraine faces due to the activities of the previous president. I want to emphasize that I’m almost sure, and not only I, but many journalists, that Poroshenko personally bears responsibility for the situation in which Ukraine has ended up, for dragging Ukraine into interfering in the U.S. presidential election, for a huge number of corruption scandals and international corruption that could not have occurred without his control or participation.

Of course, all this must be proven in a court of law, but isn’t it ironic that Biden is demanding Trump is impeached when it would seem the VP (undoubtedly in the full knowledge of the President) might have been complicit in quid pro quos with Ukraine himself.

Do we believe Joe Biden? Biden claimed he had never spoken to Burisma until a picture came out showing him playing golf with Devon Archer and his son, Hunter Biden, both directors of Burisma. Archer and Hunter were managing partners at Rosemont Seneca Partners. Archer was also a co-founder of the private-equity firm Rosemont Capital with Christopher Heinz, his college roommate at Yale. Archer had served as a senior adviser to Heinz’s stepfather, Democratic Senator John Kerry Kerry, during his 2004 presidential bid. Surely Joe never heard a peep about Burisma? Almost as believable as Bill Clinton’s chance meeting with AG Loretta Lynch on a Phoenix Airport runway, a day before her testimony on Hillary’s emails. Nothing to see here.

It smells like Kavanaugh 2.0

Can the Democrats really be so careless? It turns out that the CIA whistleblowera self-disclosed Democrat, who came forward over the Ukrainian affair has professional links to one of the 2020 Democratic nominee’s campaign.

The Inspector General (IG) Michael Atkinson stated this was the case, according to Washington Examiner journalist, Byron York.

Is this why House Intelligence Committee Chair Adam Schiff won’t release the transcript of former special envoy to Ukraine Kurt Volker’s 10-hr testimony, which would possibly disprove allegations of a quid pro quo between President Trump and Ukraine’s government?

It is embarrassing enough that Schiff risks being a witness to an impeachment hearing he is chairing.

Conspiracy theory?

Image result for af branco clinton

Presented without comment.

Everyone should take the time to read this. Slowly, and patiently, because it’s very important.

From 2001 to 2005 there was an ongoing investigation into the Clinton Foundation. A Grand Jury had been empanelled. Governments from around the world had donated to the “Charity”. Yet, from 2001 to 2003 none of those “Donations” to the Clinton Foundation were declared. Now you would think that an honest investigator would be able to figure this out.
Look who took over this investigation in 2005, none other than James Comey. Coincidence? Guess who was transferred into the Internal Revenue Service to run the Tax Exemption Branch of the IRS? None other than, Lois Lerner. Isn’t that interesting?

But this is all just a series of strange coincidences, right? Guess who ran the Tax Division inside the Department of Justice from 2001 to 2005? None other than the Assistant Attorney General of the United States, Rod Rosenstein.

Guess who was the Director of the Federal Bureau of Investigation during this time frame? Another coincidence (just an anomaly in statistics and chances), but it was Robert Mueller.

What do all four casting characters have in common? They all were briefed and/or were front-line investigators into the Clinton Foundation Investigation. Another coincidence, right?

Fast forward to 2009. James Comey leaves the Justice Department to go and cash-in at Lockheed Martin. Hillary Clinton is running the State Department, official government business, on her own personal email server. The Uranium One “issue” comes to the attention of Hillary. Like all good public servants do, supposedly looking out for America’s best interest, she decides to support the decision and approve the sale of 20% of US Uranium to… the Russians. Now, you would think that this is a fairly straight-up deal, except it wasn’t. America got absolutely nothing out of it.

However, prior to the sales approval, BILL CLINTON goes to Moscow, gets paid $500,000 for a one-hour speech; then meets with Vladimir Putin at his home for a few hours. Ok, no big deal right? Well, not so fast, the FBI had a mole inside the money laundering and bribery scheme.

Robert Mueller was the FBI Director during this time frame. He even delivered a Uranium Sample to Moscow in 2009. Who was handling that case within the Justice Department out of the US Attorney’s Office in Maryland? None other than, Rod Rosenstein.

And what happened to the informant? The Department of Justice placed a gag order on him and threatened to lock him up if he spoke out about it.

How does 20% of the most strategic asset of the United States of America end up in Russian hands when the FBI has an informant, a mole providing inside information to the FBI on the criminal enterprise?

Very soon after; the sale was approved. $145 million dollars in “donations” made their way into the Clinton Foundation from entities directly connected to the Uranium One deal. Guess who was still at the Internal Revenue Service working the Charitable Division? None other than, Lois Lerner.

Ok, that’s all just another series of coincidences, nothing to see here, right? Let’s fast forward to 2015. Due to a series of tragic events in Benghazi and after the 9 “investigations” the House, Senate and at State Department, Trey Gowdy who was running the 10th investigation as Chairman of the Select Committee on Benghazi discovers that Hillary ran the State Department on an unclassified, unauthorized, outlaw personal email server. He also discovered that none of those emails had been turned over when she departed her “Public Service” as Secretary of State which was required by law. He also discovered that there was Top Secret information contained within her personally archived email.

Sparing you the State Departments cover-up, the nostrums they floated, the delay tactics that were employed and the outright lies that were spewed forth from the necks of the Kerry State Department, we shall leave it with this, they did everything humanly possible to cover for Hillary.

Now, this is amazing, guess who became FBI Director in 2013? James Comey, who secured 17 no-bid contracts for his employer (Lockheed Martin) with the State Department and was rewarded with a $6 million dollar thank you present when he departed his employer? Amazing how all those no-bids just went right through at the State Department. Now he is the FBI Director in charge of the “Clinton Email Investigation” after of course his FBI Investigates the Lois Lerner “Matter” at the Internal Revenue Service and he exonerates her. Nope, couldn’t find any crimes there.

In April 2016, James Comey drafts an exoneration letter of Hillary Rodham Clinton. Meanwhile the DOJ is handing out immunity deals like candy. They didn’t even convene a Grand Jury! Like a lightning bolt of statistical impossibility, like a miracle from God himself, like the true “Gangsta” Comey is, James steps out into the cameras of an awaiting press conference on July 5th of 2016, and exonerates Hillary from any wrongdoing.

Do you see the pattern?

It goes on and on, Rosenstein becomes Assistant Attorney General, Comey gets fired based upon a letter by Rosenstein, Comey leaks government information to the press, Mueller is assigned to the Russian Investigation sham by Rosenstein to provide cover for decades of malfeasance within the FBI and DOJ and the story continues.

FISA abuse, political espionage pick a crime, any crime, chances are this group and a few others did it:
All the same players.
All compromised and conflicted.
All working fervently to NOT go to jail themselves.
All connected in one way or another to the Clinton’s.
They are like battery acid; they corrode and corrupt everything they touch. How many lives have these two destroyed?

As of this writing, the Clinton Foundation, in its 20+ years of operation of being the largest International Charity Fraud in the history of mankind, has never been audited by the Internal Revenue Service. Let us not forget that Comey’s brother works for DLA Piper, the law firm that does the Clinton Foundation’s taxes.

The person that is the common denominator to all the crimes above and still doing her evil escape legal manoeuvres at the top of the 3 Letter USA Agencies? Yes, that would be Hillary Rodham Clinton.

Let’s learn a little about Mrs. Lisa H. Barsoomian’s background. Lisa H. Barsoomian, an Attorney that graduated from Georgetown Law, is a protégé of James Comey and Robert Mueller. Barsoomian, with her boss R. Craig Lawrence, represented Bill Clinton in 1998. Lawrence also represented:
Robert Mueller 3 times,
James Comey 5 times,
Barack Obama 45 times,
Kathleen Sebelius 56 times,
Bill Clinton 40 times,
and Hillary Clinton 17 times.
Between 1998 and 2017, Barsoomian herself represented the FBI at least five times.

You may be saying to yourself, who cares about the work history of this Barsoomian woman? Apparently, someone does, because someone out there cares so much that they’ve “purged” all Barsoomian court documents for her Clinton representation in Hamburg vs. Clinton in 1998 and its appeal in 1999 from the DC District and Appeals Court dockets. Someone out there cares so much that even the internet has been “purged” of all information pertaining to Barsoomian.

Historically, this indicates that the individual is a protected CIA operative. Additionally, Lisa Barsoomian has specialized in opposing Freedom of Information Act requests on behalf of the intelligence community. Although Barsoomian has been involved in hundreds of cases representing the DC Office of the US Attorney, her email address is LisaBarsoomian@NIH.gov. The NIH stands for National Institutes of Health. This is a tactic routinely used by the CIA to protect an operative by using another government organization to shield their activities. It’s a cover, so big deal right? What does one more attorney with ties to the US intelligence community really matter?

It deals with Trump and his recent tariffs on Chinese steel and aluminum imports, the border wall, DACA, everything coming out of California, the Uni-party unrelenting opposition to President Trump, the Clapper leaks, the Comey leaks, Attorney General Jeff Sessions recusal and subsequent 14 month nap with occasional forays into the marijuana legalization mix and last but not least Mueller’s never-ending investigation into collusion between the Trump team and the Russians.

Why does Barsoomian, CIA operative, merit any mention? Because she is 
Assistant Attorney General Rod Rosenstein’s wife.

-Tom Tancredo/Team America

The Grim Repo

What a surprise to see markets show little reaction to the negative repo (repurchase agreements) market in the past week. So much nonchalance and complacency remain in financial markets. It is as if there is this false belief that the authorities can keep the ship afloat with magical modern monetary theory. Not a chance. The tipping points in the financial markets are quantum levels bigger than any that Sir David Attenborough could conjure up in his wildest pessimistic dreams. If we want to cut carbon emissions, the coming economic slump will take care of that.

On average there are $1 trillion of overnight repo transactions every day, collateralised with US Treasuries. Yet many missed that the repo market seized up late last week. Medium-term repos surged from the normal band of around 2.00~2.25% to around 5.25% on Monday. Some repo rates hit 10% on Tuesday.

Essentially what this said was that a bank must have seen that it was worth borrowing at an 8% premium overnight in return for pledging ‘risk-free’ US Treasuries at 2%. In any event, it allowed that particular bank to survive for another day. Banks use the repo market to fund the loans they issue and finance trades that are executed. It is like an institutional pawn shop.

Looking at it another way, why weren’t other banks willing to lend and take an 8% risk-free trade? A look at the global bank’s share price action would suggest that these bedrock financial institutions that grease the wheels of the economy are not in good shape. We just pretend they are. We look at the short term performance but ignore the deterioration in underlying balance sheets. The Aussie banks are future crash test dummies given the huge leverage to mortgages. As CM has been saying for years, the Big 4 risk whole or part nationalisation.

This recent repo action is reminiscent of that before the GFC. The Fed stepped in with $75bn liquidity per day to stabilise markets by bringing rates into the target range. The question is whether the repo action is a short-term aberration or the start of a longer-term quasi QE programme which turns into a full-blown QE programme.

The easiest way to look at the repo market action is to say the private markets are struggling to be self-funding, requiring central bank intervention. Bank of America believes the Fed may have to buy upwards of $400bn of securities to back the repo market this year alone.  This is another canary in the coal mine.

CM wrote a long piece back in July 2016 titled, “Dire Straits for Central Bankers.” In that report, we described how the velocity of money in the system was continuing to drift. As of now, central banks have printed the equivalent of $140 trillion since 2008 but have only managed to eke out $20 trillion in GDP growth. That is $7 of debt only generates $1 of GDP equivalent.

This is the problem. Companies are struggling to grow. US aggregate after-tax profits have gone sideways since 2012. We have been lulled into a false sense of security by virtue of aggressive share buyback programs that flatter EPS, despite the anaemic trend.

Despite the asset bubbles in stocks, bonds and property, pension funds, especially public sector retirement schemes, are at risk of insolvency given the unrealistic return assumptions and nose bleed levels of unfunded liabilities in the trillions.

Also worthy of note is the daily turnover of the gold derivatives market which has hit $280bn in recent months, or 850x daily mine production. This will put a lot more pressure on the gold physical market and also to those ETFs that have promissory notes against gold, as opposed to having it properly allocated.

We live in a world of $300 trillion of debt, $1.5 quadrillion in derivatives – until this is expunged and we start again, the global economy will struggle. That will also require the “asset” values to be similarly wiped out. Equity markets will plunge 90-95% relative to gold. That suggests a 1929 style great depression. The debt bubble is too big. Central banks have lost control.

Buy Gold.

Eco-warriors worried more about tailpipe emissions than the depleted uranium coming from the pipe at the front

Who do you think you are kidding Mr Hitler“…remember the old ‘Dad’s Army‘ tune? Well, it seems that the UK military believes in order to recruit the next generation of soldiers it must take a new approach to appeal to the eco-credentials of those graduating. It is a touch odd to believe that any prospective new squaddies might hold grave concerns about what comes out of the tailpipe of their tank rather than the depleted uranium shells they might fire from the 120mm pipe at the front.

General Sir Mark Carleton-Smith said that “the challenge and genuine commercial opportunity is to aim high and lead the world in the development of military equipment which is not only battle-winning but also environmentally sustainable.”

Truth be told is that is unlikely that young, fresh out of school eco-warriors would be the types that would enlist in the first place.

CM is sure that Vladimir Putin and Xi Jinping will be clamouring to follow the UK’s lead and invest in the next generation of solar-powered wafer-thin armoured tanks and carbon-free balloons which will drop virtue signalling leaflets printed in soy ink on recycled paper encouraging our enemy to embrace love, compassion, diversity and inclusion.