Category Archives: Cronyism

The FBI’s Conspiracy Theory of a Trump/Putin Collusion Has No Clothes, Paul Craig Roberts

As they say in Texas, this dog of a Trump/Putin conspiracy just won’t hunt. From Paul Craig Roberts at paulcraigroberts.com:

Unable to provide an ounce of evidence that a Trump/Putin conspiracy stole the presidential election from Hillary Clinton, the corrupt US “intelligence” agencies are shifting their focus to social media and to Internet sites such as Alex Jones and Breitbart. Little doubt the FBI investigation will trickle down to Glenn Greenwald at The Intercept, Zero Hedge, the Ron Paul Institute, Nomi Prins, Naked Capitalism, Lew Rockwell, Global Research, antiwar.com, and to others on the PropOrNot, Harvard Library, and Le Monde lists, such as top Reagan administration officials David Stockman and myself. It is extraordinary that the FBI is so desperate to protect the budget of the military/security complex that it brings such embarrassment to itself. Who in the future will believe any FBI report or anything a FBI official says?

Those behind this “investigation” understand that it is so ridiculous that they must give it gravity and credibility. They selected two reporters, Peter Stone and Greg Gordon, in the McClatchy News Washington Bureau, who fit Udo Ulfkotte’s definition of “bought journalists.” Hiding behind anonymous sources—“two people familiar with the inquiry” and “sources who spoke on condition of anonymity”—the presstitutes fell in with the attack on independent media, reporting that one former US intelligence official said: “This may be one of the most highly impactful information operations in the history of intelligence.” http://www.mcclatchydc.com/news/politics-government/white-house/article139695453.html

Wow! A totally ridiculous “investigation” is one of the most important in history. The implication is that the Russians are operating through scores or hundreds of independent media sites to control how Americans vote.

There was once a time in America when people were skeptical of anonymous sources. It was widely understood that anyone could tell a reporter anything and that a reporter could claim an anonymous source whether or not the source existed. Perhaps it was the Watergate “investigation” by the Washington Post that gave anonymity credibility. The Post’s reports made it sound like any sources ratting on Nixon’s perfidy was at risk of their lives, and the subtle emphasis on risk gave anonymity credibility.

To continue reading: The FBI’s Conspiracy Theory of a Trump/Putin Collusion Has No Clothes

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The Divided Deep State is a Symptom, Not the Disease, by Charles Hugh Smith

Remember the movie Skyfall and the story about rats turning on themselves and eating each other? The Deep State is doing the same. From Charles Hugh Smith at oftwominds.com:

If we understand the profound political disunity fracturing the nation and its Imperial Project, we understand the Deep State must also fracture along the same fault lines.

I’ve been writing about the divided Deep State for a number of years, most recently in The Conflict within the Deep State Just Broke into Open Warfare. The topic appears to be one of widespread interest, as this essay drew over 300,000 views.

It’s impossible to understand the divided Deep State unless we situate it in the larger context of profound political disunity, a concept I learned from historian Michael Grant, whose slim but insightful volume The Fall of the Roman Empire I have been recommending since 2009.

As I noted in my 2009 book Survival+, this was a key feature of the Roman Empire in its final slide to collapse. The shared values and consensus which had held the Empire’s core together dissolved, leaving petty fiefdoms to war among themselves for what power and swag remained.

A funny thing happens when a nation allows itself to be ruled by Imperial kleptocrats: such rule is intrinsically destabilizing, as there is no longer any moral or political center to bind the nation together. The public sees the value system at the top is maximize my personal profit by whatever means are available, i.e. complicity, corruption, monopoly and rentier rackets, and they follow suit by pursuing whatever petty frauds and rackets are within reach: tax avoidance, cheating on entrance exams, gaming the disability system, lying on mortgage and job applications, and so on.

But the scope of the rentier rackets is so large, the bottom 95% cannot possibly keep up with the expanding wealth and income of the top .1% and their army of technocrats and enablers, so a rising sense of injustice widens the already yawning fissures in the body politic.

To continue reading: The Divided Deep State is a Symptom, Not the Disease

Banks Are Evil, by Adam Taggert

Adam Taggert makes a strong case that modern banking and bankers are indeed evil. From Taggert at peakprosperity.com:

It’s time to get painfully honest about this

I don’t talk to my classmates from business school anymore, many of whom went to work in the financial industry.

Why?

Because, through the lens we use here at PeakProsperity.com to look at the world, I’ve increasingly come to see the financial industry — with the big banks at its core — as the root cause of injustice in today’s society. I can no longer separate any personal affections I might have for my fellow alumni from the evil that their companies perpetrate.

And I’m choosing that word deliberately: Evil.

In my opinion, it’s long past time we be brutally honest about the banks. Their influence and reach has metastasized to the point where we now live under a captive system. From our retirement accounts, to our homes, to the laws we live under — the banks control it all. And they run the system for their benefit, not ours.

While the banks spent much of the past century consolidating their power, the repeal of the Glass-Steagall Act in 1999 emboldened them to accelerate their efforts. Since then, the key trends in the financial industry have been to dismantle regulation and defang those responsible for enforcing it, to manipulate market prices (an ambition tremendously helped by the rise of high-frequency trading algorithms), and to push downside risk onto “muppets” and taxpayers.

Oh, and of course, this hasn’t hurt either: having the ability to print up trillions in thin-air money and then get first-at-the-trough access to it. Don’t forget, the Federal Reserve is made up of and run by — drum roll, please — the banks.

How much ‘thin air’ money are we talking about? The Fed and the rest of the world’s central banking cartel has printed over $12 Trillion since the Great Recession. Between the ECB and the DOJ, nearly $200 Billion of additional liquidity has been — and continues to be — injected into world markets each month(!) since the beginning of 2016:

To continue reading: Banks Are Evil

Deepening EU Banking Crisis Meets Euro-TARP and Taxpayers, by Don Quijones

The European banking crisis (and make no mistake, European banks are in a crisis) will follow the same story line as all banking crises: with taxpayers bailing out the banks. From Don Quijones at wolfstreet.com:

If the ECB scales back stimulus, banks face even greater risk of collapse. But now there’s a new solution.

Events are moving so fast in Europe these days, it’s almost impossible to keep up. While much of the attention is being hogged by political developments, including the election in the Netherlands, Reuters published a report warning that the European banking sector may face even higher bad loan risks if the ECB begins to scale back its monetary stimulus programs, something it has already begun, albeit extremely tentatively.

The total stock of non-performing loans (NPL) in the EU is estimated at over €1 trillion, or 5.4% of total loans, a ratio three times higher than in other major regions of the world.

On a country-by-country basis, things look even scarier. Currently 10 (out of 28) EU countries have an NPL ratio above 10% (orders of magnitude higher than what is generally considered safe). And among Eurozone countries, where the ECB’s monetary policies have direct impact, there are these NPL stalwarts:

Ireland: 15.8%
Italy: 16.6%
Portugal: 19.2%
Slovenia: 19.7%
Greece: 46.6%
Cyprus: 49%

That bears repeating: in Greece and Cyprus, two of the Eurozone’s most bailed out economies, virtually half of all the bank loans are toxic.

Then there’s Italy, whose €350 billion of NPLs account for roughly a third of Europe’s entire bad debt stock. Italy’s government and financial sector have spent the last year and a half failing spectacularly to come up with a solution to the problem. The two “bad bank” funds they created to help clean up the banks’ toxic balance sheets, Atlante I and Atlante II, are the financial equivalent of bringing a butter knife to a machete fight. So underfunded are they, they even strugggled to hold aloft smaller, regional Italian banks like Veneto Banca and Popolare di Vicenza, which are now pleading for a bailout from Rome, which in turn is pleading for clemency from Brussels.

To continue reading: Deepening EU Banking Crisis Meets Euro-TARP and Taxpayers

Monsanto Colluded With EPA, Was Unable To Prove Roundup Does Not Cause Cancer, Unsealed Court Docs Reveal, by Tyler Durden

Guess what happens when government regulates business? Business spends a lot of money and goes to extraordinary lengths to game the system in its favor. After over 100 years of the regulatory state, that should surprise no one, but to those who need a demonstration, here’s a good one. From Tyler Durden at zerohedge.com:

If we had a dime for every kooky, left-wing theory we’ve heard alleging some vast corporate conspiracy to exploit the treasures of the earth, destroy the environment and poison people with unknown carcinogens all while buying off politicians to cover their tracks, we would be rich. The problem, of course, is that sometimes the kooky conspiracy theories prove to be completely accurate.

Lets take the case of the $60 billion ag-chemicals powerhouse, Monsanto, and their controversial herbicide, Roundup as an example. For those who aren’t familiar, Roundup Ready is Monsanto’s blockbuster weedkiller, credited with transforming U.S. agriculture, with a majority of farm production now using genetically modified seeds resistant to the chemical.

For years the company has assured farmers that their weed killing product was absolutely safe to use. As proof, Monsanto touted the approval of the chemical by the Environmental Protection Agency (EPA).

That said, newly unsealed court documents released earlier today seemingly reveal a startling effort on the part of both Monsanto and the EPA to work in concert to kill and/or discredit independent, albeit inconvenient, cancer research conducted by the World Health Organization’s International Agency for Research on Cancer (IARC)….more on this later.

But, before we get into the competing studies, here is a brief look at the ‘extensive’ work that Monsanto and the EPA did prior to originally declaring Roundup safe for use (hint: not much). As the excerpt below reveals, the EPA effectively declared Roundup safe for use without even conducting tests on the actual formulation, but instead relying on industry research on just one of the product’s active ingredients.

“EPA’s minimal standards do not require human health data submissions related to the formulated product – here, Roundup. Instead, EPA regulations require only studies and data that relate to the active ingredient, which in the case of Roundup is glyphosate. As a result, the body of scientific literature EPA has reviewed is not only primarily provided by the industry, but it also only considers one part of the chemical ingredients that make up Roundup.”

To continue reading: Monsanto Colluded With EPA, Was Unable To Prove Roundup Does Not Cause Cancer, Unsealed Court Docs Reveal

Whistleblowers vs. The State, by Carey Wedler

Just remember, the government is never wrong. Either questioning that statement, or exposing it as incorrect, can get you in a lot of trouble. From Carey Wedler at theantimedia.com:

Immediately after Wikileaks released thousands of documents revealing the extent of CIA surveillance and hacking practices, the government was calling for an investigation — not into why the CIA has amassed so much power, but rather, into who exposed their invasive policies.

“A federal criminal investigation is being opened into WikiLeaks’ publication of documents detailing alleged CIA hacking operations, several US officials,” reportedly told CNN.

“The inquiry, the official said, will seek to determine whether the disclosure represented a breach from the outside or a leak from inside the organization. A separate review will attempt to assess the damage caused by such a disclosure, the official said.”

Even democratic representative Ted Lieu, who has been urging whistleblowers to come forward to expose wrongdoing within the Trump administration, has turned his focus away from what the documents exposed and toward determining how it could have possibly happened.

“I am deeply disturbed by the allegation that the CIA lost its arsenal of hacking tools,” he said while calling for an investigation. “The ramifications could be devastating. I am calling for an immediate congressional investigation. We need to know if the CIA lost control of its hacking tools, who may have those tools, and how do we now protect the privacy of Americans.”

According to Lieu’s statements, the problem isn’t necessarily that the CIA is spying on Americans and invading innocent people’s technology without consent. It’s that the CIA mishandled their spying tools, and in doing so, endangered Americans’ privacy by exposing the tools to presumably ‘bad actors.’ The problem isn’t the corrupt agency violating basic privacy rights, but that they weren’t skillful enough to keep their corruption under wraps.

So goes the familiar whistleblower narrative in the United States. Whistleblowers step forward to expose wrongdoing on the part of government — something the government claims to support — and immediately, establishment institutions and the media bend the conversation away from the wrongdoing in order to focus on the unlawful release of secrets.

To continue reading: Whistleblowers vs. The State

What the Hell is Going On? (Part Three), by Jim Quinn

Part Three of Jim Quinn’s shredding of the mainstream media’s fairy tales about the economy and the country. From Quinn at theburningplatform.com:

In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil.

“The notion that a radical is one who hates his country is naïve and usually idiotic. He is, more likely, one who likes his country more than the rest of us, and is thus more disturbed than the rest of us when he sees it debauched. He is not a bad citizen turning to crime; he is a good citizen driven to despair.” – H.L. Mencken

“This new regime will enthrone itself for the duration of the Crisis. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Where leaders had once been inclined to alleviate societal pressures, they will now aggravate them to command the nation’s attention. The regeneracy will be solidly under way.” – The Fourth Turning – Strauss & Howe

We are now seven weeks into the Trump presidency and it seems like seven years with amount of incidents that have occurred before and since his inauguration. When in doubt, Trump’s brain dead, hyperventilating with hate, opponents either blame the Russians or declare him Hitler. The histrionics displayed by the low IQ hypocritical Hollywood elite, corrupt Democratic politicians, fake news liberal media and Soros paid left wing radical terrorists over the last two months has been disgraceful, revolting, childish, and dangerous.

To continue reading: What the Hell is Going On? (Part Three)