Central Banks, Bank CEOs, politicians… all of these people are focused primarily on maintaining CONFIDENCE in the system, NOT on fixing the system’s problems. Indeed, they cannot even openly discuss the system’s problems because it would quickly reveal that they are a primary cause of them.
We warned 4 months ago that the UK especially should be fearful of sanctioning Russia and biting the hand that feeds its real estate recovery. However, it appears Cameron's ire has got the better of him, as The Telegraph reports, allies of Vladimir Putin are understood to be moving assets after British demands to punish the Russian president’s 'cronies' in the wake of the Malaysia Airlines disaster in Ukraine. The EU said Tuesday (albeit somewhat confusingly) that it had agreed to draw up a list of Russians who will face sanctions but the UK government refused to say which 'oligarchs' were being targeted as it was fearful of the risk of 'asset flight'. It appears that backfired...
It had to happen! The blame game on that horrendous airline incident has reached the expected loud monotone of pointing fault, lock, stock and barrel at Russia... and, more specifically, to that villain ex-KGB Slav, Vladimir Putin. The US media barrage of grotesque and obscene propaganda against America’s former foe and competitor has found a leader of this warring marching band in Barack Obama. If the UN is incapable to change or influence the hegemonic geopolitical behavior of the United States... where else can the world look to find resolution to conflicts such as we have in Gaza and Ukraine today? Enter the BRICS group of nations...
From Alexander the Great to British rule, history, if it has a lesson, teaches us that no group of men can conquer the world. It’s simply too big, too vast, and too complex. Humanity is far too restless to sit and take orders from dictators halfway across the globe. The mindset that wishes one country to have an iron-grip on world affairs is horribly naïve. Empires are not free. Washington’s credit card can’t be charged to infinity. The need for prudence is growing larger by the day. For the sake of average Americans, and peaceful citizens across the world, let’s hope it gets here sooner than later.
In a somewhat disconcerting move, Russian President Vladimir Putin has recalled The State Duma from a planned vacation to participate in an unscheduled meeting because of the situation in eastern Ukraine. As Ukrinform reports, sources confirm "Something is being planned, because many deputies come, probably for a quorum." Rumors are spreading that Putin is set to issue Kiev an ultimatum over recognizing separatists or face military intervention.
"The West has successfully put itself in a position to dictate 'political correctness' in international discourse," China exclaims via a Global Times editorial on MH17 on Monday, "those unwilling to work with Western interests will often find themselves in a tough position." China's first public statement that "The Western rush to judge Russia is not based on evidence or logic," comes on the heels of Vladimir Putin's address last night jabbing the West "no one should not have the right to use this tragedy to achieve selfish political objectives." China appears to have crossed the line, siding very clearly with Russia as they conclude, "It is yet another example of the power of Western opinion as a political tool."
Biggest Dutch Daily Calls For NATO Intervention To Protect MH17; Feinstein Tells Putin To "Man Up And Confess"Submitted by Tyler Durden on 07/20/2014 13:26 -0400
Facts be damned, everyone in the west, from the most crony politician to the biggest tabloid has "undisputed" proof Putin did it. But what now: what is the endgame? Once again the answer is simple: Western military intervention, this time in the conflict zone, under the guise of public anger against Putin, to reinforce the dwindling Ukraine army forces and to repel the separatists, in the process regaining the critical industrial regions of Ukraine which also are the location of vast natural gas deposits. Certainly showing to Gazprom just who was in charge of this key natural gas nexus wouldn't hurt either. After all the west has already invested so much in the current Ukraine government, it can't all be for nothing. And we know that because a few hours ago, the biggest Dutch newspaper, Telegraaf, openly asked for military intervention by NATO to protect MH 17 and calls Putin a "KGB liar."
Recovery Of Malaysian Airlines Black Box Caught On Tape: Separatists To Hand Over To International DelegationSubmitted by Tyler Durden on 07/20/2014 10:20 -0400
With the rabbit hole of conspiracies getting deeper by the hour, video has emerged showing what appears to be the "black box" flight data recorder from Malaysia Airlines Flight MH17 being taken from the crash scene. As NBC reports, the men in the video are wearing Ukrainian Emergency Ministry uniforms, but a senior Ukrainian official told a news conference Sunday that rebels had taken the black boxes. This fits with reports from The Hill that pro-Russian separatists have located the black boxes for the downed Malaysia Airlines passenger jet and will hand them over to international authorities, according to separatist leader Alexander Borodai. With the US having offered more "proof" that Russia was involved, perhaps some facts from the Black Box will help clarify details in this dreadful situation... though we are not confident.
For Americans, it was like the news from nowhere. Years had passed since reporters bothered to head for the country we invaded and blew a hole through back in 2003, the country once known as Iraq that our occupation drove into a never-ending sectarian nightmare. In 2011, the last U.S. combat troops slipped out of the country, their heads “held high,” as President Obama proclaimed at the time, and Iraq ceased to be news for Americans. With Maliki, it has simply been a different dictator, enjoying even more such support (until these last weeks), and using similarly barbaric tactics against Iraqis. Today, Washington’s policies continue in the same mindless way as more fuel is rushed to the bonfire that is incinerating Iraq.
Don’t let a good crisis go to waste – Vladimir Putin's slogan.
According to Russian news agency Interfax, Vladimir Putin remarked during a government meeting today that:
*PUTIN SAYS UKRAINE IS RESPONSIBLE FOR MALAYSIA JET CRASH: IFX
*MALAYSIA CRASH WOULDN'T HAPPEN IF UKRAINE WAS AT PEACE: IFX
But ordered Russia's government to all it can to investigate the crash.
While the world was riveted by the latest Malaysian Airlines tragedy, Obama and Putin spoke. According to Reuters, Obama warned Russian President Vladimir Putin on Thursday that the United States and its allies are prepared to impose additional sanctions on Moscow if it does not change course in Ukraine.
"Sanctions have a boomerang effect and without any doubt they will push U.S.-Russian relations into a dead end, and cause very serious damage, and it undermines the long term security interests of the US State and its people."
"This means that U.S. companies willing to work in Russia will lose their competitiveness next to other global energy companies." Putin said the sanctions will hurt Exxon Mobil Corp which has been given the opportunity to operate in Russia. "So, do they not want it to work there? They are causing damage to their major energy companies." Putin said the sanctions will hurt Exxon Mobil Corp which has been given the opportunity to operate in Russia. "So, do they not want it to work there? They are causing damage to their major energy companies."
- BRICS set up bank to counter Western hold on global finances (Reuters)
- Fed's Yellen Hedges Her View on Rates (Hilsenrath)
- China GDP Grows 7.5% in Second Quarter (WSJ)
- Get More Acquainted With Your Knees as Boeing Reworks 737 (BBG)
- Israel Warns Gazans of New Attack After Hamas Rejects Truce (WSJ)
- Israel poised for Gaza incursions after truce collapses (Reuters)
- China Housing Sales Fall in First Half of 2014 (WSJ)
- IBM to offer iPads and iPhones for business users (Reuters)
- Fed's George says strengthening economy warrants quick rate rise (Reuters)
As Pepe Escobar explains, way beyond economy and finance, this is essentially about geopolitics - as in emerging powers offering an alternative to the failed Washington consensus. Or, as consensus apologists say, the BRICS may be able to "alleviate challenges" they face from the "international financial system".