Plans to reduce European Union dependence on the US dollar have been rumoured for a while now, as China’s alternative to the Petrodollar continues to gain strength. The EU is not signing up to the move by Russia, China and the other BRICS bloc nations to replace the dollar but are thinking involvement with the emerging economies bid to break US economic hegemony will improve the 27 member Union’s ability to run an independent foreign policy without having to fear US bullying through sanctions for opposing Washinton’s attempts to dominate global political and economic events. The EU plan was unveiled on Wednesday by the European commission.
The proposal has gained support among European Union member states as companies in EU countries have felt presured to withdraw investments from Iran by the threat of punitive secondary sanctions from the US for any nation which permits its citizens or business community to trade with the Shi’ite Muslim theocracy.
The EU, unlike the US, wants to maintain the nuclear deal with Iran signed in 2015, but needs to deliver on its side of the bargain by increasing trade with Tehran. Less likely to be discussed in mainstream media is that European arms manufacturers, particularly those in Britain, Germany, France and, surprisingly perhaps, Sweden, will benefit greatly from a new arms race if they are in a position to supply both sides.
Iranian rulers are becoming impatient as the EU strives to create a financial mechanism to shield European exporters and importers from the effects of US sanctions on corporations, banks and individuals that continue to trade with Iran. US secondary sanctions can be applied on any European firm with links to the US market. I find this rather surprising as back in the 1960s when I studied economics, it was common knowledge that jurisdictions with lax trade regulation regimes like Panama or The Bahamas could be used to obfuscate paper trails and evade sanctions, tariffs and taxes.
The commission is perhaps reluctant to use Gibraltar’s port facilities for trans — shipping goods bound eventually for Iran because of the uncertain position of The Rock post Brexit. Instead Brussels is focusing on increasing the use of the euro in energy markets by creating a financial vehicle to facilitate settlement of oil contracts in the single currency, thus bypassing sanctions by avoiding any dollar transactions. Along with other such bilateral agreement systems, the plan is part of a longer-term move to “de-dollarise” the world economy.
Measures included in the EU policy involve using the euro as default currency in energy contracts agreed between EU member states and non-EU countries, as well as the creation of euro-denominated price benchmarks for crude oil. The EU is one of the world’s largest energy importers.
The commission press release also suggests the EU must develop “a full range of trustworthy interest rate benchmarks” in and a fully integrated instant payment system acceptable in all financial markets. The bloc will also seek to develop the role of the euro in foreign exchange markets.
In launching the long-term plan, EU economic affairs commissioner, Pierre Moscovici, said: “A wider use of the euro in the global economy yields important potential for better protecting European citizens and companies against external shocks and making the international finance and monetary system more resilient.”
The commissioner added these plans came “at a time where the recent global trends, the emergence of new economic powers along with the development of new technologies are supporting a potential shift towards a more diversified and multipolar system of several global currencies”.
Responding to the EU announcement an Iranian official said:
“Based on the news I recently received and was confirmed by a European commissioner, from now on, the EU is going to ditch the US dollar and just use the euro in the financial transactions of all European oil deals with other countries,” said Iran’s nuclear chief, Ali Akbar Salehi, on Thursday.
Speaking to reporters, the head of the Atomic Energy Organization of Iran (AEOI) said the amount of these transactions is more than €300 billion. “Previously, the EU used to pay 85 percent of the money for the oil it purchased from other countries in US dollars, but now with this new mechanism, all the money will be paid in euros,” he said.
Once the mechanism takes effect, the US dollar will be isolated as a global currency, and the US will no longer be able to use dollars in the current dominating way, Salehi added.
His comments came one day after the EU commission presented its plan to reduce the dollar’s overwhelming dominance of the global economy and to strengthen the role of the euro, particularly for energy transactions. There will be a lnee jerk reaction from the left of US politics, to blame Donald Trump for this development, the EU have already accused the Trump Administration of weaponising the reserve currency, although that is unfair because the US has used its position as holder of the reserve currency as a political weapon since the 1960s. In fact the move towards de-dolarisation, led by China, Russia and Iran, has been going on for some years now, the initial moves having been made early in the Obama era, though even before Obama took office there was widespread dissatisfaction with the way the USA used dollar dominance to influence political developments outside its borders. It has alredy attracted many trading partners, perhaps US economic belligerence is an attempt to combat this. If so it is the wrong approach.
European capitals have become increasingly frustrated with the global dominance of the dollar as a reserve currency, which hands the United States unparalleled diplomatic and economic power in a globalized world. This hostility was exacerbated when economic sanctions imposed on Russia after it’s annexation of Crimea in 2014. Many European nations were hit harder by those sanctions than Russia.
As the US 2018 midterm elections loom ever larger on the horizon it is clear the US electorate has never been more implacably polarised, while the smearing, lying, backstabbing and name calling have never been more blatant. The Democrats know there is not only control of the Senate and House of Representatives at stake, but the outcome will have a huge influence on the outcome of the 2020 Presidential Election when Donald Trump will seek a second term. Win control of both houses, the Democrats will be able to effectively hamstring Trump’s presidency, win only the House of Representatives and they will be able to make life difficilt for his administration. Six months ago it looked as though The Democrats could gain control of both houses but since then they have been determined to show they can repeat hillary clinton’s trick of snatching defeat from the jaws of victory.
The failed attempt to derail the conformation of Supreme Court nomineee Brett Kavanaugh by smearing him with an unsubstantiated accusation of a sexual misdemeanour which allegedly took place 35 years ago and was witnesses by nobody (not even the victim apparently, given her inability to remember accurately and details of the when and where,) seriously backfired on the party. This was followed by the debacle over claims made by 2020 presidential hopeful Elizabeth Warren, who in a bid to gain support from minorities said she is a member of the Chreokee nation. Unfortunately Ms. Warren, whose claim dates back to her 2012 senatorial campaign, was pressured into taking a DNA test, and proved to be ten generations away from any Cherokee ansector.
The left’s assumption is that women and minorities Democrats because they perceive supporting the party’s liberal stance as being in their best interest while major cultural events back up that view. This is not entirely true, the Republicans have done as much on civil rights, while before World War 2 The Democrats were the part of slavery and segregation in the southern states , (it’s all documented.) Over the course of the past two weeks, since the conformation of Justice Kavanaugh, and the discrediting of ‘Fauxoontas’ Warren as Trump calls her, the left’s strategy of identity politics as a way to divide and conquer American voters has not only failed catastrophically, it’s backfired.
We saw this play out first with the fight to confirm Judge Brett Kavanaugh to the Supreme Court. The narrative, created by the left and repeated by allies in the media, quickly became about women. Without distinction, it was declared that all women were on the side of Kavanaugh’s accuser, Christine Blasey Ford.
This was not true and it refelcts badly on The Democrats and feminism the assumption that ‘all women’ hold the opinion the liberal narrative on mainstream media assigns them can even be made. Hundreds of women who knew Kavanaugh came out publicly in his defense, saying that he had always behaved properly in female company. Scores of women wearing “I Stand With Brett” and “Women For Kavanaugh” T-shirts gathered on Capitol Hill to show their support for his nomination. Thousands tweeted #HimToo as a way to show support for due process and evidence to back accusations.
After years of pussy hats, #MeToo, college kangaroo courts and entirely spurious gay and trans rights cases, plus some particularly nasty outbreaks of fascist style street violence people don’t buy the liberal message about a right wing ‘war on women,’ the ‘rape culture’ or the need to ‘exterminate white heterosexual males.” These crude scare tactics are repeated at left wing events and rallies designed to grab the votes of women and ethnic / sexual minorities. But Democrats are making a huge miscalculation.
Conservatives are furious at the people purporting to speak for women, furious that what should have been an ordinary parsing of evidence (what little there is after 36 years) was turned into a Kabuki theater campaign ad for the Democratic Party, stressing their trope that the GOP is conducting a so-called war on women,” Stephanie Gutmann wrote in an op-ed for USA Today.
More importantly, this facile assumption that ‘all women’ supported #MeToo because ‘all women’ have faced sexual harassment from every man they meet, that ethnic minorities are constantly beaten down by ‘white racism’ or ‘white privilege’ and that gays are universal victims (when most have good careers and are accepted by most people, has encouraged conservatives to get ready to head to the polls and vote against Democratic Party candidates.
According to a survey conducted by NPR/PBS NewsHour/Marist Polls, enthusiasm among Republican women jumped 12 percent since Kavanaugh was announced in July and that was further solidified during and after his confirmation.
Shortly after Kavanaugh was officially sworn in as a justice, President Trump held a meeting at the White House with rapper and cultural icon Kanye West.
With the cameras rolling, West lavished Trump with praise, talked about prison reform and explained why he loves what the president is doing. “He can speak for me any time he wants,” Trump said from the Oval Office. “He’s a smart cookie. He gets it.”
It was yet another cultural moment that derailed the left’s talking points: African-Americans are Democrats and could never align themselves with a Republican president has been the assumprion for several decades. The meeting was shocked many liberals, particularly those easily triggered snowflakes, the university students and spun many into a panic of egregious and racist insults.
“Kanye West is what happens when negroes don’t read,” CNN commentator Bakari Sellers said on Don Lemon’s show.
Since West showed support for Trump’s policies earlier this year, the president’s approval among African-American voters has been on the rise.
In a desperate attempt to somehow fit into the left’s narrative on race, the Warren fiasco further alienated minorities Complete with a video and extensive campaign website, the data shows she might be 1/1,024th Native American.
The fallout was swift and painful.
“A DNA test is useless to determine tribal citizenship. Current DNA tests do not even distinguish whether a person’s ancestors were indigenous to North or South America,” Cherokee Nation Secretary of State Chuck Hoskin Jr. released in a statement. “Using a DNA test to lay claim to any connection to the Cherokee Nation or any tribal nation, even vaguely, is inappropriate and wrong. … Senator Warren is undermining tribal interests with her continued claims of tribal heritage.”
Warren’s cultural and victim status appropriation not only further hampered her reputation, but threw a bomb into the waning “blue wave” just three weeks ahead of the midterms.
“Argue the substance all you want, but why 22 days before a crucial election where we MUST win house and senate to save America, why did @SenWarren have to do her announcement now? Why can’t Dems ever stay focused???” tweeted Jim Messina, former President Obama’s 2012 campaign manager.
The Democrats obsession with skin color and gender, and their fondness for Islam while they simultaneously denounce Christianity and are positively anti – Semitic (as are their fellowe travellers the UK Labour Party,) is as a strategy, falling apart and recent events show why. Nov. 6 is just around the corner and the battle lines for presidential votes are already being drawn. For Democrats, those lines are being crossed as women and minorities vote on interest, not on identity politics.
Last week,White House Press Secretary Sarah Sanders was kicked out of a Red Hen restaurant in Virginia because the owner, a pussy hat wearing liberal feminist, did not want to serve anyone who worked for the Trump administration. In a separate incident Protesters swarmed around Homeland Security Secretary Kirstjen Nielsen’s home on Friday. Florida’s Attorney General was confronted and heckled at a showing … Continue reading
The Harvey Weinstein sexual harassment scandal which has rocked the Hollywood establishment and shocked America to its core, according to mainstream media should not have surprised anyone (if fact much of the shock and horror being expressed is typical Hollywood liberal hypocrisy.) And now the story has broken, it seems that as well as a … Continue reading
Authored by ‘Washington Watcher’ via VDare.com, The leaked internal Google briefing “The Good Censor” [PDF] has received suspiciously little attention from the Main Stream Media, but it represents the crassest statement yet of the Tech oligopolies’ intention to impose Silicon Valley Political Correctness on the U.S. As American Thinker Editor Thomas Lifson puts it: “I congratulate Breitbart.com for the … Continue reading
On a day that saw the latest nonsensical claims from the UK government about Russian government culpability for the Skripal assassination attempt back in March, we came across a story which shows how the other great “It’s The Russians fabricated narrative is falling apart. While NATO governments were getting their knickers in a right old … Continue reading
How US Department Of Homeland Security Created Fake News On Russia Hacking US Election The narrative of Russian intelligence interfering with the outcome of U.S. elections has achieved near-universal acceptance among media and political organisations. But the real story behind that narrative reveals that the Department of Homeland Security (DHS) created an account of events that was designed to spread false information and cause fear and panic.
The Deep State Is Real..& They Don’t Like Trump’s Disruption In his new book titled “The Deep State: How an army of bureaucrats protected Barack Obama and is working to destroy Donald Trump,” Jason Chaffetz alleges that the deep state is very real. His book, which is set to be published on September 18, details the lengths the intelligence community is going to in an attempt to undermine Trump.
How Can US / NATO Claim Info From Syrian Rebels Is Reliable? The problem with the latest attempt to justify intervention by the USA and its allies France and the UK has things in common with previous illegal weapons incidents in Syria for which no evidence of the involvement of Russia or President Assad’s government was found, and one in particular in which the culprits were identified…
China and Russia Move To Outflank Washington Hawks, Avert War In Asia Events in recent days have given everybody in the world cause for concern. First it was revealed that renegade state North Korea how has nuclear capability to attack American interests in the Pacific and possible even targets on the US mainland. Then the war of words between the North Koreans and Washington took a nasty turn, opened up the throttle and seemed to be hurtling towards all out war.
Oprah Winfrey, Praised As A Feminist Icon, Exposed As A Fraud Within Twenty Four Hours
Tanya Gold, writing about The Golden Globes awards, praised the acceptance speech given by Oprah Winfrey who was given a lifetime achievement award presumably for fronting a television freak show, and commented on the ridiculous calls from other ‘liberals’ in hollywood and Washington for Oprah to run against Donald Trump in the 2020 Presidential Election.
Coming To A Town Near You: Expert Warns That No-Go Zones Are Growing In America
Nothing illustrated the failure of Europe’s open doors immigration policies more than the notorious “no-go zones” that have sprung up in Muslim dominated areas of many European cities. For decades the West has opened its borders to people who don’t share their values, and the West has utterly failed to encourage these people to assimilate. The lack of assimilation has reached a degree that many of these populations have become resentful of their mediocre status in society, and have actually become more insular.
President Trump has reportedly blocked the attempted acquisitions of a US technology company by a Chinese firm. while his opponents accuse him of breaking election promises and betraying votes, although they offer little evidence to support their claims, the increasingly tough policy against China’s acquisition of US companies continues, despite the firing of White House chief strategist Steve Bannon, who supported Trmp’s “economic nationalism.”
“Hopelessly Compromised”: Judiciary Member Calls For Mueller’s Resignation Over Uranium One Scandal
Earlier this morning (November 4) House Judiciary Committee representative Matt Gaetz (R-FL) submitted a resolution calling for Robert Mueller to resign as special counsel overseeing the FBI investigation of possible collusion between the Trump campaign and the Russian government saying that the former FBI director is “hopelessly compromised” as a result of his failed oversight of the controversial Uranium One transaction …
It’s the breaking news we all knew about over a year ago, the Democratic Party Primaries were as bent as a fisherman’s hook. This blog and most other unaligned news websites in New Media reported last year, supplying irrefutable proof it must be said, that the Democratic Party pirmaries which secured the nomination for Hillary Clinton were rigged.
The airstrikes by a US led coalition that killed many Syrian soldiers fighting for the legitimate government of Bashar al Assad against the terrorist forces of ISIS has raised the level of hostile rhetoric between the USA / NATO coalition and the Russia / China / Iran alliance. The likelihood of war seemed to have receded through the summer, after it seemed possible early this year, that one stray shell or bullet could spread the war beyond the middle east. Is World War Three Really Kicking Off This Time?
If This Does Not Disqualify Hillary For The Presidency, It’s Hard To Know What Will
Even the conservative Wall Street Journal is waking up to the massive deception that is being perpetrated on voters by the American political establishment, media and judiciary. Unfortunately the around half or the voters seem to be willingly complicit in this deception. In fact the USA collectively appears capable of a level of cognitive dissonance on an unprecedented scale in relation to the crimes and corrupt practices of Hillary Clinton … If This Does Not Disqualify Hillary For The Presidency, It’s Hard To Know What Will
Note: The direct link to the Amnesty report contained in this post is at the time of writing blocked by the EU and hidden by search engine filters elsewhere. People who think internet censorship is a conspiracy theory please take that on board.
The four-month military operation carried out by the US-led Coalition to oust the Islamic State from Raqqa (Syria), killed hundreds of civilians, injured many more and destroyed much of the city. This report from human rights group Amnesty International documents the experiences of four families whose cases are emblematic of wider patterns. Eight months on, the Coalition remains in denial about the human tragedy resulting from its military campaign.
Amnesty International is urging Coalition members to promptly and impartially investigate allegations of international law violations and civilian casualties, and to provide reparation to the victims and adequate assistance for the desperately needed demining and reconstruction work.
President Trump on Saturday touted a conservative victory after his Supreme Court nominee, Brett Kavanaugh, was confirmed as the 114th Justice after a contentious and dramatic assault from the left.
Speaking in Topeka, Kansas, Trump framed the Democratic resistance to Kavanaugh as an attempt by an “angry mob” to hijack the proceedings “in their quest for power.”
“They threw away and threw aside every notion of fairness, of justice, of decency and of due process,” Trump said of the anti-Kavanaugh efforts. “What he and his wonderful family endured at the hands of Democrats is unthinkable, unthinkable.”
“Just imagine the devastation they would cause if they of their obtained the power they so desperately want and crave,” Trump added. “You don’t hand matches to an arsonist and you don’t give power to an angry left-wing mob, and that’s what they have become.”
Trump then used Kavanaugh’s example to illustrate why conservatives need to vote during the midterm elections in four weeks so that Democrats don’t take back the House.
A Toronto-based sex doll brothel hoping to slip into Houston had cold water poured over its plans, after the City Council on Wednesday updated a rule on sexually oriented businesses prohibiting the use of the silicone seductresses for masturbatory purposes, according to local news reports.
The terms ‘humanitarian’ and ‘democracy’ were once used to describe honourable behaviour and just causes. Now they have become contenders, along with science, socialism and liberal for the dubious honour of being the most abused words in the English language, routinely deployed to justify politically motivated acts of aggression which lead to death and destruction.
Words such as ‘humanitarian’ and ‘democracy’ have acquired a darker and more cynical meaning following their misappropriation to justify the invasion of sovereign nations, effect regime change and promote the spread of Western military, economic and cultural dominance around the world. The mainstream media and many human rights activists, assist these ventures by broadcasting and publishing propagandised news and by tapping into negative emotions such as fear and outrage to soften public opinion and make interference in the political affairs of sovereign states appear justified.
If you remember 2001 and the lies of western politicians and media about Saddam Hussein’s Weapons of Mass Destruction, supposedly capable of being deployed against western targets within 45 minutes, the strategy was used to swing public opinion behind the US / EU / NATO push for a war that would rid them of a maverick leader. The public were deceived into accepting the invasion through attention-grabbing headlines crafted to abhor readers with ‘evidence’ of Saddam’s butchery and to generate strong emotional reactions which would cause people to think with their hearts rather than their heads.
One story was written by UK Labour MP Ann Clwyd, and published by the one time newspaper of record The Times two days before the US-led Coalition of the Willing began pounding Iraq’s cities and infrastructure with carpet bombing attacks. Clwyd claimed that Saddam had demonstrated a ‘human-shredding machine’ into which adversaries were fed and reduced to fish food. It is of course a variation on a scence in the Coen brothers film Fargo in which a wood shredder is used to render a corpse unidentifiable.
The article, under the title “See men shredded, then say you don’t back war” was quoted by other newspapers and by TV and radio news and caused readers to feel revulsion towards Saddam and his regime, and made the anti-war lobby appear sympathetic to a murderous regime dubbed by one tabloid, “The Butchers Of Bagdhad,” and indifferent to the plight of the Iraqi people. The story was challenged by anti – war campaigners and no evidence of such a device has been found. And for the record Saddam was supported by more than half of Iraquis, a popularity he achieved by the simple expedient of using a significant proportion of his country’s oil revenues to provide generous welfare payments.
The Iraqi dictator was certainly no angel, but he did manage to keep down the extremist elements in his country ,and of course, his removal by the the western military powers, USA , UK and France (The FUKUS axis,) facilitated the rise of ISIS some years later. Saddam’s real crimes were well known to US and NATO intelligence services, who kept him informed about the locations of Iranian troops during the Iran-Iraq war in the 1980s, in the knowledge that he would use mustard gas and sarin against them.
The US also provided Saddam with cluster bombs and helped him acquire chemical precursor agents. US-based Human Rights Watch estimated that Saddam killed at least 290,000 of his own people while in power. However, this figure is dwarfed by the number of Iraqis believed to have died in the aftermath of the 2003 invasion, due to occupation forces, sectarian violence or ISIS – this figure is estimated to be in the hundreds of thousands, if not in excess of a million.
The psychological shock-and-awe strategy was again employed in the lead up to NATO’s bombing of Libya, as the US and UK’s on-off relationship with Gaddafi took a turn for the worse after he planned to start selling oil in dinars (a new gold-backed pan-African currency) instead of US dollars or euros, and encouraged his African neighbors to follow suit.
The release of emails from Hillary Clinton’s private server in late 2015, just as the 2016 election campaign was getting under way revealed that such a move would have strengthened African economies and led to competition between the dinar and the dollar or euro. In fact there is in progress now a move led by Russia and China to dump the US$ as reserve currency and move to a system of settling cross border trades in the vendors currency. And earlier this year, China launched the Petroyuan, a gold-backed contract for trading oil futures, on the Shanghai stock & commodity exchange. So old Mad Dog Muammar was just unfortunate enough to be ahead of the game when he had no powerful allies to back him up.
On this occasion, we were treated to the excuse that bombing Libya and supporting the anti-Gaddafi rebels, including Al-Qaeda-affiliated elements, was necessary as Gaddafi was about to commit a massacre against the people of the rebel-controlled city of Benghazi. Another emotive claim designed to mould public opinion into accepting the war affirmed that Gaddafi was giving his soldiers Viagra so they could commit mass rape. An investigation by Amnesty International found no evidence to support this allegation and revealed that on several occasions anti-Gaddafi forces in Benghazi had made false allegations or manufactured evidence of human rights violations.
Without any sense of irony American, European and British politicians and the media now try to justify censorship of news and opinion, seeking to justify this illiberal and undemocratic activity by claiming it is necessary to silence those who spread ‘fake news’. Do we really believe governments and the media are going to censor themselves? Do we believe Google are suddenly going to cease and desist from suppressing factual information and opinions critical of their cronies in Washington? Do we believe Facebook are going to remove the globalist bias from their algorithms and give equal prominence to news and ideas that do not support Zuckerberg’s world domination agenda? Do we look as though we were born yesterday?
The concern of governments and their corporate friends about fake news is that with the rise of new media real news will leak out into the public domain and expose the fact that governments have been feeding us fake news since the modern era began with the protestant reformation.
For too long the democratic nations of the world, which are mostly in North America and Europe, with some outposts such as Autralia, have followed the lead of The United States of America both economically and socially. And the USA has been leading us to disaster for fifty years.
Forget this week’s utter fiasco of Brett Kavanaugh’s appointment to the upreme court, and the utterly pathetic attempt by the Democrats to prevent President Tump’s nominee’s conformation. It doesn’t matter whether Brett Kavanaugh becomes a justice of the Supreme Court or not; one more Deep State lackey will change nothing.
For years, the Courts and elected assemblies of has looked the other way as the banking cartel colaborated with central banks and global corporations to rob one class of citizen (ordinary, working people) and reward another (the elite).
As a result, the American economic empire faces a catastrophic crisis as wealth concentrates in fewer hands, and the debts of the have nots (both nations and individuals, become overwhelming. The resurgence of nationalism in Europe is one symptom, the increasing number of regional conflicts and rising tensions between the western democracies and the non – democratic eastern bloc, is another. And the upsuge in Islamic fundamentalism is the third and probably the most dangerous. All this is being played out to the accompaniment of internal schisms, social breakdowns, and dangerous political scuffles.
Why, you might well ask.
If you work by the hour, the boss can buy your time. That’s what it really means to say someone is “rich” – he has more time because he can control not only his own, but yours, too.
Somebody who had $1,000 worth of stocks in 1971 could buy approximately 250 of the average working man’s hours. Today, that $1,000 worth of stocks is worth about $28,000… which, at today’s $26-per-hour average, will buy 1,077 hours of the typical working man’s time – four times as much as in 1971.
In other words, compared to the wage earner, the capitalist is four times as rich.
Invert it, and you see about the same thing. A working man would have had to labor for 212 hours to buy the 30 Dow stocks in 1971. Today, his time is much less valuable; he has to sweat for over 1,100 hours to buy the Dow.
It is this hollowing out of the middle class (not the middle class in the British sense, where the class system is much more complicated,) that is behind the chaos in the democratic world. The group in the middle is getting smaller, the’poor’ are growing exponentially in number and the rich are getting richer and more out of touch with the realities other classes face. It cannot end well.