“What the government is good at is collecting taxes, taking away your freedoms and killing people. It’s not good at much else.” —Author Tom Clancy Call it what you will—taxes, penalties, fees, fines, regulations, tariffs, tickets, permits, surcharges, tolls, asset forfeitures, foreclosures, etc.—but the only word that truly describes the constant bilking of the American taxpayer by the government and its corporate partners is theft. What Americans don’t seem to comprehend is that if the government can arbitrarily take away your property, without your having much say about it, you have no true rights. You’re nothing more than a serf or a slave.
Russia Says Has Photos Of Ukraine Deploying BUK Missiles In East, Radar Proof Of Warplanes In MH17 VicinitySubmitted by Tyler Durden on 07/21/2014 22:45 -0400
Ukraine hasn’t said how it immediately knew rebels downed Malaysian plane, notes the Russian Foreign Ministry, as it unveils 10 awkward questions for Ukraine (and perhaps the US 'snap judgment') to answer about the MH17 disaster. However, what is perhaps more concerning for the hordes of finger-pointers is that: RUSSIA HAS IMAGES OF UKRAINE DEPLOYING BUK ROCKETS IN EAST: IFX; RUSSIA DETECTED UKRAINIAN FIGHTER JET PICK UP SPEED TOWARD MH17. Obviously, if there is proof that this is so, aside from CIA-created YouTube clips, these would deal another unpleasant blow to US foreign policy.
In the absence of any major economic events, it will be another day tracking geopolitical headlines out of Ukraine (lots of accusations, propaganda and fingerpointing on both sides, zero actual evidence and facts - expect more European sanctions to be announced today to match last week's latest US-led round ) and Israel (where the death toll has now risen over 500, almost entirely on the Gaza side), and then promptly spinning any bad news as great news. For now, however, futures are modestly lower from the Friday close pushed down by the AUDJPY which has rebased around 95.00. We expect the momentum ignition correlation algos will promptly take of that as soon as the US market opens, a market which has now been described as bubbly by the BIS, the Fed and the IMF.
Yesterday, we laid out extensively what the official Ukrainian case was when it came to "proof" that Russian separatists had launched the Buk missile which allegedly took down flight MH-17; we also highlighted several glaring inconsistencies and questions that still remained open after the "incriminatory" YouTube clip release. So far, any international response has been muted to this hastily prepared evidence of Russian involvement, although the day is still young. So what about the Russian side? Below we present the key arguments made by Russia to suggest that not it, but Ukraine, was responsible for taking down the Malaysian Boeing.
A Roundup of ACCIDENTAL Shoot Downs of Civilian Passenger Planes by Russia, Ukraine, America, China and Israel
As expected following promises by virtually all carriers yesterday, today there is a literal "air pocket" above Ukraine, as seen in the most recent update of European air traffic via Flightradar24.com. Expect this pattern to remain well into the future as no airline will ever again, or certainly for the next several years, want to incur liability associated with having a plane shot down after the MH 17 tragedy.
- Ukraine Says Malaysian Airliner Shot Down Near Russian Border (BBG)
- Downing of airliner seen as pivotal moment in Ukraine crisis (Reuters)
- Malaysian Air Flight Took Route Avoided by Qantas, Asiana (BBG)
- Russian-Made Missile Hit Malaysia Jet, U.S. Officials Say (BBG)
- Netanyahu Orders Military to Ready Wider Gaza Incursion (BBG)
- Silvio Berlusconi Underage Sex Conviction Overturned (WSJ)
- But... but... "economic patriotism" - AbbVie to Buy Shire for $54.8 Billion as Drug Deals Surge (BBG)
- SEC targets 10 firms in high frequency trading probe - SEC document (Reuters)
- Art bubble pop: Sotheby's to Lay Off 'Modest' Number of Employees (WSJ)
- Moar Abenomics: Hermes Sales Trail Estimates as Japanese Revenue Declines (BBG)
While there are various questions that have already emerged from what was supposed to be Ukraine's "slam dunk" proof confirming Russian rebel involvement in today's MH-17 tragedy, perhaps one just as gaping question emerges when one looks at what is clearly an outlier flight path in today's final, and tragic, departure of the Malaysian Airlines Boeing 777.
Moments ago Ukraine released what may be just that missing "YouTube" link, when it unveiled a video supposedly proving that "militants of "Bes" group shot down with a Russian anti-aircraft missile a Malaysian Airlines Boeing 777 passenger jet heading from Amsterdam to Kuala Lumpur." And yet, something here smells very fishy...
Details are starting to come together. The WSJ reports that US Intelligence detected a surface missile launch and tracked the explosion of the plane.
*U.S. INTELLIGENCE SAYS SURFACE-TO-AIR MISSILE FIRED PLANE: WSJ
However, Intelligence Community Divided Over Whether Missile From Russia or E. Ukraine.
#BREAKING: Reuters correspondent on the scene in Eastern Ukraine sees burning wreckage of air plane, bodies on ground
— Reuters World (@ReutersWorld) July 17, 2014
Update: so yes, it was shot down.
- MALAYSIAN PASSENGER JET WAS SHOT DOWN AT 10 KM ALTITUDE: IFX
While we hope it is a horrific accident, and has yet to be officially confirmed by Malaysian Airlines, the timing is oddly coincidental. From Bloomberg.
- MALAYSIAN PASSENGER JET WAS SHOT DOWN AT 10 KM ALTITUDE: IFX
- INTERFAX SAYS PLANE MAY HAVE CRASHED NEAR RUSSIA-UKRAINE BORDER
- MALAYSIAN BOEING 777 MAY HAVE CRASHED IN UKRAINE: INTERFAX
The crash happened near Donetsk and the plane had 280 passengers on board. The question is - accident? Or was it shot down by Russia or Ukraine as a provocation.
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