Special Edition.  Deciphering Derivatives.  Oh, And Happy Saint Patrick’s Day! (March 17, 2023)

Posted in Derivatives on March 17, 2023 by e-commentary.org

[See “The Looming Quadrillion Dollar Derivatives Tsunami” by Ellen Brown, the recipient of the Third Annual Noble Prize In Eco-nomics (October 8, 2018), in “www.ellenbrown.com” dated March 13, 2023 and “The Next Bomb to Go Off in the Banking Crisis Will Be Derivatives” by Pam Mertens and Russ Mertens, the recipients of the Fifth Annual Noble Prize In Eco-nomics (October 12, 2020), in www.WallStreetOnParade.com” dated March 16, 2023.]

[See the interview and transcription of the interview by Ben Norton with Michael Hudson, the recipient of the Seventh Annual Noble Prize In Eco-nomics (October 10, 2022), in “Michael Hudson Talks to Ben Norton About SVB and Bank Failures” with an introduction by Yves Smith, the recipient of the Seventh Annual Pushitzer Prize In Commentary For 2022 (May 9, 2022), in “www.NakedCapitalism.com” dated March 16, 2023.]

[See the e-commentary at Too Much Dirt; Too Few Rugs. Repurchase Agreements (September 23, 2019) noting the problems in the Repurchase Market in 2019 that still haunt the economy and the choice between an economic or a kinetic declaration of war discussed in Strait of Hormuz or Deutsche Bank?  Deriving Derivatives (July 8, 2019) and the observations at Economics And Finance:  Girls v. Boys (June 4, 2018).]

Bumper sticker of the week:

Derivatives are “financial weapons of mass destruction.”  Warren Buffett

2024 Pulitzer In “Breaking News Reporting” And “Investigative Reporting News”:  Jeff Gerth And The Columbia Journalism Review / Kyle Pope (March 13, 2023)

Posted in Journalism, Press/Media, Pulitzer, Russia on March 13, 2023 by e-commentary.org

. . .

K          “One can hope.  He is in the Club, but he has challenged the Narrative with Facts.  He is risking his position yet may now be old enough not to care.  The two Awards should also be awarded jointly to the ‘Columbia Journalism Review’ that showed remarkable courage and integrity.  And with a nod to Kyle Pope.”

L          “Never happen.”

K          “Of course not.”

. . .

K          “They should revoke the Pulitzers awarded for the sham and the fraud in 2018.”

L          “Never happen.”

K          “Of course not.”

. . .

K          “The individuals who were wrongly awarded the Pulitzers in 2018 should muster the dignity and integrity to return the awards.”

L          “Never happen.”

K          “Of course not.”

. . .

K          “And apologize.”

L          “Never happen.”

K          “Of course not.  That would contravene the American Way.”

. . .

[See “The Press versus the President” in four parts:  Part 1, Part 2, Part 3 and Part 4 of Jeff Gerth’s magnum opus in the “Columbia Journalism Review” dated January 30, 2023; see “The Press Reckoning on Russiagate” by Patrick Lawrence in “Consortium News” dated February 7, 2023; “Columbia Journalism Review Russiagate Post-Mortem Is a Good Start” by Mark Hemingway in “RealClearPolitics” dated February 6, 2023 and “Take a Bow, Columbia Journalism Review” by Matt Taibbi in “Racket News” dated February 8, 2023.]

[See the e-commentary at Russian Interference; Russian Collusion.   Epilogue (March 25, 2019) and Russian Interference; Russian Collusion (February 26, 2018).  Joe’s Award should have been bestowed for the ideas and insights in these two pieces.]

Bumper stickers of the week:

Russia exists to teach Americans hate and to hate.  If Russia did not exist, America would have to create it.

“knowingly, knowingly, knowingly lying, omitting, disinforming, fabricating, and covering up”

“For deeply sourced, relentlessly reported coverage in the public interest that dramatically furthered the nation’s understanding of Russian interference in the 2016 presidential election and its connections to the Trump campaign, the President-elect’s transition team and his eventual administration. (The New York Times entry, submitted in this category, was moved into contention by the Board and then jointly awarded the Prize.)”  Pulitzer Announcement in 2018.

Spoiler Alert:  Yup, Uncle Sam Did It . . . Or At Least Approved It (March 6, 2023)

Posted in Russia, Terrorism, Ukraine on March 6, 2023 by e-commentary.org

. . .

K          “There is something to the story.  There seems to be something more to the story.  I am not completely persuaded and once again reserve judgment.  I suspect the Brits and others were involved.  The only certainty is that nothing was done without the planning and the approval and the participation of Uncle Sam.  And once again the disturbing and unrelenting nightmare continues with any and all debate viciously and almost violently suppressed.”

J          “That is the way it is and the way it should be.”

. . .

K          “The United States clearly violated Article 5 of the NATO Charter when it aided and abetted a terrorist attack on Germany’s infrastructure . . . so all the other members of NATO must come to the defense of the Germans.  All for one; one for all.”

J          “A treaty is followed when it is convenient and disregarded when it is inconvenient.  That is known as the ‘rules-based international order’ and is one of America’s great contributions to humanity.  In this situation, the NATO Charter is inconvenient.  Ergo . . .”

. . .

K          “No one in the know is surprised that the United States brazenly destroyed the link between Germany and Russia with its ‘Pearl Harbor’ attack on the infrastructure of sovereign countries.  Few in America have ever heard of Halford Mackinder who correctly observed almost ten dozen years ago that a united Eurasia will rule the world.  Germany was maintaining cordial commercial relationships with Russia which threatened American hegemony.”

. . .

K          “The Swedes and the Norwegians and possibly the Danes seem to be accessories to the crime.  Yet they still seem like good people.” 

J          “They are.”

K          “Makes one wonder if there is some spare Brittingham Scholar with a modicum of courage who might step up and demur.”

. . .

[See “How America Took Out The Nord Stream Pipeline” by Seymour Hersh in ‘www.seymourhersh.substack.com’ dated February 8, 2023 and “Sy Hersh & The Way We Live Now” by Craig Murray in “Consortium News” dated February 10, 2023.]

[See the e-commentary at The U.S. Declares War On Germany, Europe, Russia And The Free World . . . Bank Of England Flops Then Flips . . . And The Supreme Beings Saunter Into Town (October 3, 2022) and What Is With Our Friend Sweden And Our Friends The Swedes?  The Swedish Central Bankers Reward One Of Their Criminal Home Boys:  Bernanke.  The “Real” Nobel For Peace (War?) Rewards Hypocrisy And Dishonesty.  The Nord Stream Pipeline Terrorism Investigation Is Dodgy. (October 24, 2022).]

Bumper stickers of the week:

February 7, 2022:

Biden:  “If Russia invades – that means tanks or troops crossing the border of Ukraine again – then there will be – there will be no longer a Nord Stream 2.  We will bring an end to it.”

Andrea Shalal:  “But how will you – how will you do that exactly, since the project and control of the project is within Germany’s control?”

Biden:  “We will – I promise you, we will be able to do it.” 

January 26, 2023:

“Senator Cruz, like you, I am, and I think the administration is, very gratified to know that Nord Stream 2 is now, as you like to say, a hunk of metal at the bottom of the sea.”  Victoria “Fuck the EU” Nuland. 

“When someone shows you who they are, believe them the first time.” Maya Angelou

“The diplomats want war and the warriors want peace.”  Elon Musk

Is the Europe Effete as decadent and corrupt as the American Effete?

Remember the Nord Stream!

Monkeying Around With Cryptocurrency:  Pumping And Dumping And Monkey Hammering The Villagers (February 27, 2023)

Posted in Bitcoin, Cryptocurrency, Kleptocracy on February 27, 2023 by e-commentary.org

Revised from a variety of incarnations on the Internet:

How Cryptocurrency Works

Not long ago a Merchant found many stray monkeys living near a village that were disregarded and overlooked by the villagers.

One day the Merchant came into the village stating that he wanted to buy these stray monkeys.

He announced that he would buy the stray monkeys for $100 each.

The villagers thought that this man must be crazy.  “How can somebody buy stray monkeys at $100 each?  Why would he buy stray monkeys at $100 each?”

Still people caught some monkeys and sold them to the Merchant for $100 each.

This news spread like wildfire.  More villagers caught monkeys and sold them to the Merchant.

After a few days, the Merchant announced that he would now buy monkeys for $200 each.

Now even the laziest villagers ran around to catch the remaining monkeys.

They sold the remaining monkeys at $200 each.

The Merchant then announced that he would buy monkeys for $500 each.

The villagers started to lose sleep.

They caught six or seven monkeys which was all that were left and got $500 each.

The villagers were awaiting anxiously for the next announcement.
Then the Merchant proclaimed that he is going on holiday for a week, but when he returned, he would buy monkeys at $1000 each.

He also said that in his absence his Employee would be in charge to take care of the monkeys he had purchased.

The Merchant went on holiday.

The villagers were frantic and very sad as there were no more monkeys left for them to sell at $1000 each as promised by the Merchant, but then the Merchant’s Employee publicized that he would secretly sell some monkeys at $700 each.

The news spread like wildfire as the Merchant had promised that upon his return monkeys would be purchased for $1000 each, producing a $300 profit for each monkey.

The next day the villagers queued up near the monkey cage.

The Employee sold all the monkeys at $700 each. The rich villagers bought monkeys in large numbers.  The poor villagers borrowed money from money lenders and bought the rest of the monkeys.

The villagers took care of their monkeys and waited for the Merchant to return.

When the Merchant didn’t return, they searched for the Employee, but he could not be found either.

Eventually the villagers realized that they had been duped into buying the useless stray monkeys at $700 each and were now unable to sell them for any amount.

This Monkey Business is now known as cryptocurrency.

. . .

[See “There’s a wild theory that the price of Bitcoin is being propped up—and the academic who proved manipulation in 2017 suspects it may be happening again” by Shawn Tully behind a paywall at “fortune.com” and reprinted at “yahoo.com” dated February 2, 2023.]

[See the e-commentary almost a half dozen years ago in “Bitcoin”, “Ethereum” . . . “Blockchain Technology” Say What? (July 3, 2017) and a few comments on blockchain five years ago at One World Currency? (January 8, 2018) (K  “On a simple level, ‘cryptocurrencies’, etc. are digital and gold, etc. is analog.  Blockchain technology underlying ‘cryptocurrencies’ is likely to be supplanted by a fast, fair, sustainable, scalable, guaranteed Byzantine fault tolerant consensus digital technology using gossip protocols and virtual votes such as Hashgraph.  And Hashgraph is likely to be supplanted by even more advanced and sophisticated technologies.”)  The analogy between “gold” and “analog” is weak because gold is real and can be held in one’s palm  as they say, there is no counterparty risk.]

Bumper stickers of the week:



Let’s celebrate one big happy extended family of transformational leaders and selfless visionaries serving the public interest and promoting the common weal in law, media, business, politics and academia:

SEC Chair Gary Gensler’s old boss at MIT was Glenn Ellison.  His daughter Caroline Ellison is the CEO of FTX sister-company Alameda Research (and Sam Bankman-Fried’s lover at one time apparently).

The General Counsel of FTX used to be lead counsel to Gary Gensler when he was the CFTC Chair.

Sam Bankman-Fried’s mother was one of Hillary Clinton’s lawyers.

Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of “Guarding Against Pandemics”.  He was a Legislative Correspondent for the U.S. House of Representatives and an advisor to large political donors in the Democratic Party.

Aunt Linda Fried is a WEF member on the Global Agenda Council on Aging.

The father, Joseph Bankman, is a Stanford professor who has lobbied on behalf of hedge fund managers before Congress (film at eleven).

Amy Wu, FTX Head of Ventures & Commercial, started with the Clinton Foundation years ago.

Nishad Singh, FTX Director of Engineering, has spent over 8 million dollars for Democratic candidates.

Mark Wetjen, Obama’s Commodity Futures Trading Commissioner, was the head of FTX Policy & Regulation.

Dan Friedberg, Chief Regulatory Officer of FTX, was previously a lawyer at Ultimate Bet (a site where they basically cheated against players).

Stuart Hoegner, General Counsel at Bitfinex/Tether, was previously Director of Compliance at Excapsa which was responsible for the Ultimate Bet Poker software.

World War E / World War III Is 1 [9?] Year[s] Old This Week.  Oh, And Happy Presidents’ Day! (February 20, 2023)

Posted in China, Dollar - World's Reserve Currency, Petrodollar, Russia, Ukraine, War, World War E, World War III, World's Reserve Currency on February 20, 2023 by e-commentary.org

. . .

J          “Putin is desperate.”

K          “Biden is desperate.  The speakers yesterday proclaimed a word that has almost been expunged from the American lexicon – peace.  And look at his latest desperate theatrical antic.  The puppet flies to meet the marionette.”

. . .

K          “Russia is subtly and methodically winning the ‘economic war’ and is slowly and patiently winning the ‘kinetic war’ and ceaselessly and unrelentingly losing the ‘propaganda war’ . . . at this time.  The unprovoked Western sanctions are destructive and counterproductive.  The truth is emerging.  The West is very, very slowly unraveling.”

J          “The West will prevail.”

. . .

K          “One of the tectonic shifts on the journey from illusionment to disillusionment was the gradual realization that the United States of America since 1945 was not the world’s policeman as I was directed in grammar school . . . it is the world’s bully.  After that realization was confirmed by a thousand historical footnotes, nothing is or can ever be the same.”

J          “Policemen need to be bullies at times.”

. . .

K          “The bourse is the battlefield; the battlefield is the bourse.  The PetroDollar is supported by violence; the violence is funded by the PetroDollar.  The de-dollarization efforts may not dethrone the PetroDollar, but little by little they are moving the PetroDollar to a highchair at a table with other currencies.”

J          “Some two-party commercial transactions are being undertaken without the PetroDollar.  However, the PetroDollar still has a long shelf life and a long half-life.  For better and for worse.” 

. . .   

K          “Biden will instigate a false flag event to go nuclear.”

J          “Putin will instigate a false flag event to go nuclear.”

. . .

K          “Biden’s war is not going to end well.”

J          “Putin’s war is not going to end well.”

. . .

[See the e-commentary at Portentous Developments In 2022? (January 23, 2023), Washington Wants War In The Worst Way:  Dust Off The IOSAT Or Return To The Status Quo Ante Bellum? (January 24, 2022), N. Propaganda R. Transcribed:  “Get Vaccinated.  Attack Russia.”  Oh, And Happy Presidents’ Day! (February 21, 2022), The Cuban Missile Crisis And The Monroe Doctrine Today (February 28, 2022), Sanctions, Supply Chains And World War E (March 7, 2022), World War E Breeds Bretton Woods III;  BW II And The PetroDollar Will RIP? (March 14, 2022) (“The ‘PetroDollar’ has had as much influence on civilization as the implementation of the wheel, the creation of the printing press and the discovery of electricity.  Yet, the ‘PetroDollar’ and BW II are dying a slow but accelerating death.  In a stupendous irony, U.S. stupidly killed BW II which had served it so well and has now spawned an uncertain BW III.”), The War Between The Nation-States:  Architectonic And Tectonic Shifts In The World:  Getting Our Bearings In The Emerging World Order: Land And People And Resources Versus Fiat And Finance And Firearms (August 15, 2022), The U.S. Declares War On Germany, Europe, Russia And The Free World . . . Bank Of England Flops Then Flips . . . And The Supreme Beings Saunter Into Town (October 3, 2022), What Is With Our Friend Sweden And Our Friends The Swedes?  The Swedish Central Bankers Reward One Of Their Criminal Home Boys:  Bernanke.  The “Real” Nobel For Peace (War?) Rewards Hypocrisy And Dishonesty.  The Nord Stream Pipeline Terrorism Investigation Is Dodgy. (October 24, 2022), Existential Threat + Existential Threat = World War.  Are We Mired In World War E[conomic] / World War III? (November 21, 2022), The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018), World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014), AIIB: China: 1; U.S.A. 0? (April 6, 2015), The Mandibles, FRNs, SDRs, IMF, G20, WTD! (September 5, 2016), USA + FRN/PD — > IMF + SDR — > NDB + UMU? The “Universal Monetary Unit” . . . Coming To a Planet Near You (January 2, 2017), One World Currency? (January 8, 2018), and two prescient pieces on NATO at NATO: Nations Aggressively Taking Over (March 31, 2014) (“If Bush can invade Iraq without any good reason, can Putin invade Ukraine without any good reason?”) and NATOExit? NATOExeunt? (July 4, 2016).]

It is going nuclear.

Bumper stickers of the week:

“The other thing I will say is that the war didn’t start in February last year.  The war started in 2014.  And since 2014, NATO Allies have provided support to Ukraine, with training, with equipment, so the Ukrainian Armed Forces were much stronger in 2022, than they were in 2020, and 2014.  And of course, that made a huge difference when President Putin decided to attack Ukraine.”  NATO Secretary General Jens Stoltenberg

“They’ve lost strategically, they’ve lost operationally and, I repeat, they’ve lost tactically.  . . .  What they’ve tried to do, they’ve failed at.  The strategic reframing of their objectives, of their illegal invasion, have all failed, every single one of them.”  Chairman of the Joint Chiefs of Staff General Mark A. Milley

Desperate people do desperate things

“It is dangerous to be right in matters on which the established authorities are wrong.”  Voltaire

Dragon < Eagle > Bruin; Dragon + Bruin > Eagle; Eagle + Bruin > Dragon

Counting Battered Bodies Badly.  Oh, And Happy Valentine’s Day! (February 13, 2023)

Posted in Newspapers, Propoganda, Russia, Ukraine, World War E, World War III on February 13, 2023 by e-commentary.org

. . .

K          “The ‘New York Times’ asserts that 200,000 Russian troops have been killed and wounded.  The editors hope and wish and dream that 200,000 of their fellow human beings have been killed and wounded.  I researched the available sources and am really troubled by the number.  Perhaps about 30,000 – 40,000 Russian troops have been killed and wounded.  The unfounded NYT’s allegation is part of the ‘Retreating to Moscow’ Narrative and not the ‘Advancing to Paris’ Narrative.  Tomorrow, they will advance the ‘Advancing to Paris’ Narrative.”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.”

. . .

K          “And the NYT said that the sabotage of the Nord Stream Pipeline was a ‘mystery’ when it is clear to all right thinking folks who choreographed the terrorist attack.  Do these people have no dignity or integrity?”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.”

. . .

K          “The NYT markets itself as the first draft of history.  I doubt future historians will be taught and more importantly doubt that they will be rewarded for doubting everything written in and by the NYT.  Every statement must be consumed cum grano salis.”

J          “The West will prevail.  The ‘New York Times’ and the ‘Washington Post’ are two of the pillars of the government information machine.  They are doing their job and their part.  So there you have it.  End of discussion.”

. . . 

[See the e-commentary analyzing the two strains of the propaganda campaign in Russia:  Advancing To Paris; Retreating To Moscow (December 5, 2022) and the consequences of the United States aiding and abetting the terrorist destruction of the Nord Stream pipelines at The U.S. Declares War On Germany, Europe, Russia And The Free World . . . Bank Of England Flops Then Flips . . . And The Supreme Beings Saunter Into Town (October 3, 2022).]

Bumper stickers of the week:

“Washington – The number of Russian troops killed and wounded in Ukraine is approaching 200,000, a stark symbol of just how badly President Vladimir V. Putin’s invasion has gone, according to American and other Western officials.”  ‘The New York Times’, February 2, 2023.

“Early in life I have noticed that no event is ever correctly reported in a newspaper, but in Spain, for the first time, I saw newspaper reports which did not bear any relation to the facts, not even the relationship which is implied in an ordinary lie.  I saw great battles reported where there had been no fighting, and complete silence where hundreds of men had been killed.  I saw troops who had fought bravely denounced as cowards and traitors, and others who had never seen a shot fired hailed as the heroes of imaginary victories; and I saw newspapers in London retailing these lies and eager intellectuals building emotional superstructures over events that had never happened.  I saw, in fact, history being written not in terms of what happened but of what ought to have happened according to various ‘party lines’.”  George Orwell, “Looking Back on the Spanish War”, Chapter 4 (1943).

Rage Against The War Machine Rally – February 19 at 12:30 p.m. at the Lincoln Memorial  

Occupy Peace

The Ultimate Monopolist, The Federal Reserve, Dictates Economic Policy; The Surviving Monopolists Dictate Price And Quality (February 6, 2023)

Posted in Economy, Federal Reserve on February 6, 2023 by e-commentary.org

. . .

J          “The Federal Reserve has an almost absolute and certainly unconstitutional monopoly on economic policy in America.  Congress has abandoned its policy and oversight duties and only spends money that does not exist.  America is a command economy with an unelected cabal of buffoons many with a high school mentality sporting ‘piled higher and deeper degrees’ making fundamental decisions about investment, production, distribution and income determination in secret by decree.  The scheme and the scam have not served the public well.  So there you have it.”

. . .

K          “Eighty-nine percent of Americans think we live in a free market economy.  Over the last two decades, I have watched industry after industry after industry after industry after industry after industry taken over by one major player.  Never have as many industries been as monopolized by one major player as they are today.  That results in higher prices, lower quality and fewer innovations.  So there you have it.”

. . .

[See the book “Goliath: The 100-Year War Between Monopoly Power and Democracy” by Matt Stoller and “A tale of two worlds” by Alasdair Macleod in “Goldmoney.com” dated February 1, 2023.]

[See the e-commentary on monopoly almost a dozen years ago at On Freedom and Liberty (May 24, 2010) and the e-ssay even more years ago reflecting on the greatest institutional threat at Who Is Your Big Bad Bogeyman? (March 26, 2007).]

Bumper stickers of the week:

The bigger the top, the bigger the pop

So there you have it

The Envelope, Please:  Dramedy Of The Year For 2022:  The Federal Funds Fiasco (January 30, 2023)

Posted in Federal Reserve, Interest Rates on January 30, 2023 by e-commentary.org

. . .

K          “In a runaway vote, the ‘Federal Funds Fiasco’ show was voted the best new dramedy of the year for 2022.”

J          “The Katzenjammer Kids merge with the Keystone Cops.  And the nightmare was renewed for another season this year.”

. . .

J          “When Powell was up for reappointment, the public saw some visible signs of infighting spill and spew out.  What is clear is that the members of the Federal Reserve itself are using the positions to further enrich themselves to the detriment of the public.  The corruption is cancerous.” 

. . .

K          “Spoiler alert.  Some plot twists are in the works.  The current rate hikes have produced negative effects, yet the real effects – negative and possibly positive – lag by six to nine to twelve months and have yet to manifest.  The calm before the storm.  And because the current price rises are a supply side problem not a monetary phenomenon, the rate increases will do little to slay or even stay inflation.  Real inflation for real folks is and will really remain over at least eight percent throughout this year.  And no one believes that the Fed can raise the rates higher than six percent without breaking the entire economy into shreds and shards.”

J          “Some reality twists are in the works.  The coming recession may slow inflation, yet folks must drive and eat and shelter and live.  They may drive less, but they will continue to eat and shelter and live.”

. . .

J          “Wall Street subsists on and then front runs inside information.  For decades, the conventional wisdom was ‘Don’t fight the Fed’ and roll with the largesse.  The strategy worked even for little folks.  Today, Wall Street is actively running from and resisting what appears to be the settled policy of the Fed.  Two powerful entities running in opposite directions are primed to collide.”    

. . .

J          “Stay tuned.”

K          “The popcorn, por favor.”

. . .

[See “Rural Americans aren’t included in inflation figures – and for them, the cost of living may be rising faster” by Stephan Weiler and Tessa Conroy in “The Conversation” dated January 27, 2023.]

[See the e-commentary discussing inflation in detail and noting almost two years ago that the inflation was and is not “transitory” at Is Inflation Inflating!?!? (April 26, 2021) and assessing the current economic dilemma at The Great Checkmate And The Great Seesaw: Interesting Rates (April 11, 2022).  See also Interning For Clio:  Collecting, Protecting And Preserving The Record (April 4, 2022) and Covid-19 PanICdemic/Plague:  Basically, Back To Basics:  Finding Food; Printing Rutabagas.  Happy Earth Day! (April 20, 2020).] 

Bumper stickers of the week:

WIN  [Wipe Inflation Not So Soon]

Flight the Fed?

Portentous Developments In 2022? (January 23, 2023)

Posted in Gold, Gold Standard, Petrodollar, Russia, SWIFT on January 23, 2023 by e-commentary.org

. . .

J          “The Russian invasion of Ukraine in February. Article 51 of the Charter of the United Nations does not suffice for me.”

K          “The United States weaponization of the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system followed by the U.S. confiscation of Russian reserves in March.  The world knows beyond a reasonable doubt that the U.S. cannot be trusted.  Without elemental trust, there is nothing.  The overriding strategic concern of every nation on Earth at this time is to firewall itself from the U.S. without the U.S. perceiving the action.”

. . .

[Scrutinize, analyze and synthesize “Contrarian Thoughts on the Petro-Yuan and Gold-Backed Currencies” by Charles Hugh Smith in “Of Two Minds” dated January 19, 2023 and “Global South: Gold-backed currencies to replace the US dollar” by Pepe Escobar, the recipient of the Sixth Annual Pushitzer Prize In Commentary For 2021 (June 7, 2021), in “The Cradle” dated January 19, 2023.]

[See the e-commentary at The Cuban Missile Crisis And The Monroe Doctrine Today (February 28, 2022), Sanctions, Supply Chains And World War E (March 7, 2022) and World War E Breeds Bretton Woods III;  BW II And The PetroDollar Will RIP? (March 14, 2022).]

Bumper stickers of the week:

“To be an enemy of America can be dangerous, but to be a friend is fatal.”  Henry Kissinger

When all this social distance stuff is over, I still want people to stay away from me.

MLK Day (January 16, 2023)

Posted in Civil Rights/Civil Liberties, Society on January 16, 2023 by e-commentary.org