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Satchu's Rich Wrap-Up
Wednesday 14th of September 2022

’Voodoo Economics’’ a Wizard of Oz moment
World Of Finance

’Voodoo Economics’’ a Wizard of Oz moment 

we have reached the point when the curtain was lifted in the Wizard of Oz and the Wizard revealed to be ‘’an ordinary conman from Omaha who has been using elaborate magic tricks and props to make himself seem “great and powerful”’’ 

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Actually one of my favorites I Wonder Kanye West (2007) @kanyewest

I Wonder Kanye West (2007) @kanyewest


Find your dreams come true
And I wonder if you know
What it means, what it means
And I wonder if you know
What it means, what it means
And I wonder if you know
What it means to find your dreams
I've been waiting on this my whole life
These dreams be waking me up at night
You say I think I'm never wrong
You know what, maybe you're right, aight

And I wonder if you know
What it means, what it means
And I wonder if you know
What it means to find your dreams

And I'm back on my grind
A psychic read my lifeline
Told me in my lifetime
My name would help light up the Chicago skyline
And that's what I'm
Seven O'clock, that's primetime

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Why Allende had to die By Gabriel García Márquez @NewStatesman

Why Allende had to die By Gabriel García Márquez @NewStatesman

Forty years have passed since the Chilean president Salvador Allende died in La Moneda Palace in Santiago, attempting to defend himself with an AK-47 he had been given by Fidel Castro.
Here, in a piece from the New Statesman published in March 1974, the Nobel Prize-winning novelist Gabriel García Márquez explores Allende’s record in Chile, his rivals’ dealings with the United States and the rise of his successor – the army general Augusto Pinochet.

Over dessert, one of the Pentagon generals asked what the Chilean army would do if the candidate of the left, someone like Salvador Allende, were elected.
General Toro Mazote replied: “We’ll take Moneda Palace in half an hour, even if we have to burn it down.”

Chile is a narrow country, some 2,660 miles long and an average of 119 wide, and with ten million exuberant inhabitants, almost three million of whom live in the metropolitan area of Santiago, the capital.
The country’s greatness is derived not from the number of virtues it possesses but, rather, from its many singularities.
The only thing it produces with any absolute seriousness is copper ore but that ore is the best in the world and its volume of production is surpassed only by that of the United States and the Soviet Union.
It also produces wine as good as the European varieties but not much of it is exported. 

The least apocalyptic of geologists think of Chile not as a country of the mainland but as a cornice of the Andes in a misty sea and believe that the whole of its national territory is condemned to disappear in some future cataclysm.

President Allende understood then – and he said so – that the people held the government but they did not hold the power. 

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Exactly 30 years ago today, the leader of the Sendero Luminoso (Shining Path) was arrested in Lima. Here's how Abimael Guzmán was taken down @rajanbasra

Called the "capture of the century", it is one of the most remarkable episodes in the history of counterterrorism.
Here's how Abimael Guzmán was taken down. THREAD

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Guzmán was a philosopher professor and fanatical Maoist, nicknamed “Champú” because he washed his students’ minds like he was shampoo. @rajanbasra

Sendero’s insurgency began in the mountains of Peru in 1980. A decade later it threatened the capital, in a conflict that took ~70,000 lives.

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The new team (GEIN) would follow Senderistas (especially those just released from prison) in Lima to map out the group's network. @rajanbasra

The new team (GEIN) would follow Senderistas (especially those just released from prison) in Lima to map out the group's network. @rajanbasra

They observed Arana Franco, believed to be Sendero's money man, meeting comrades. Following those comrades they found new safehouses and people...

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They found a home video of Guzmán with the central committee of Sendero Luminoso...dancing to music.....from the 1964 film Zorba the Greek @rajanbasra


They found a home video of Guzmán with the central committee of Sendero Luminoso...dancing to music.....from the 1964 film Zorba the Greek @rajanbasra

They searched one of those safehouses in January 1991, and made perhaps the most surreal discovery in the history of terrorism.
They found a home video of Guzmán with the central committee of Sendero Luminoso...dancing to music.....from the 1964 film Zorba the Greek

For years they weren't sure if Guzmán was even alive (never mind in Lima). Yet here he was, a bit drunk – and with the group’s leadership – a video recorded in the house they had just raided, only 4 blocks from the army's HQ. Totally absurd. @rajanbasra


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Wrong. Her favourite president was Mandela. One of the few people in her life who called her Elizabeth and apparently she loved it. @Otto_English
Law & Politics

Wrong. Her favourite president was Mandela. One of the few people in her life who called her Elizabeth and apparently she loved it. @Otto_English

The Queen signed letters to Nelson Mandela: 'Your sincere friend, Elizabeth  R' | London Evening Standard | Evening Standard

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Broomfield's early style was conventional cinéma vérité: the juxtaposition of observed scenes, with little use of voice-over or text.

Broomfield's early style was conventional cinéma vérité: the juxtaposition of observed scenes, with little use of voice-over or text.

Such filmmakers have been classified as Les Nouvelles Egotistes; others have likened Broomfield's work to the Gonzo journalism of American Hunter S. Thompson.

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"it is different when we (USA) do it, you need to understand" @dana916
Law & Politics

“There are known knowns — there are things we know we know,” Rumsfeld said “We also know there are known unknowns — that is to say, we know there are some things we do not know. But there are also unknown unknowns, the ones we don’t know we don’t know.”

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Putin’s Regime Will Collapse Change has always happened quickly in Russia. We Russians should be prepared for this scenario – as should the West. @DIEZEIT Von Wladimir Kara-Mursa
Law & Politics

It may sound fantastic to think about a Russia after Vladimir Putin right now. But in fact, it is exactly the right time to do so. 

Because if there is one thing we know about the history of my country, it is this: 

Political change has always happened very suddenly in Russia – so quickly that it came as a surprise even to those involved.

I often think these days of the Russo-Japanese War of 1904, when the tsar's Minister of the Interior, Vyacheslav von Plehwe, ranted about the need for a "small, victorious war" against Japan that would solve all the empire's domestic problems. 

He certainly did not expect that only one year later - also as a result of the just not so small, not so victorious war - the first revolution would break out in Russia. 

The tsar had to agree to the establishment of a parliament, guarantee freedom of the press and of political parties. 

And when Lenin famously told a group of young Swiss Social Democrats in Zurich at the end of January 1917 that "my generation will not live to see the decisive battles of the coming revolution," he certainly did not think that this very revolution would break out six weeks later.
I myself am old enough to remember the historic days of August 1991, when in Moscow a group of die-hard communists tried to coup against Mikhail Gorbachev. 

At the beginning of that month, no one expected that the old, but just still alive Soviet regime would not survive that very August. 

Within three days, one of the most horrible totalitarian systems in the history of mankind finally collapsed. This is how change happens in Russia.
We must be prepared for such a rapid collapse today as well. 

Time and again, regimes in my homeland, whether tsarist, Soviet or Putinist, have launched wars for domestic political reasons – like the current one in Ukraine. 

And time and again, these campaigns have had the exact opposite effect than hoped for by those who waged them. 

This was true of the Russo-Japanese War as well as the Crimean War in the 19th century and the invasion of Afghanistan in 1979. 

I am convinced that Vladimir Putin will not survive his supposed blitzkrieg against Ukraine politically.

Strictly speaking, however, Putin started two wars on February 24, 2022: The one against Ukraine and the one against the independent media in Russia. 

Even for me, after twenty years of opposition work, it was frightening to see how quickly this Iron Curtain was lowering before our eyes.

One March morning I woke up in my apartment in Moscow and there was no more Twitter, no more Facebook, no more Echo of Moscow radio, no more TV Rain. 

Most Russians today live in a completely Orwellian reality created by state broadcasting. 

I mean this literally: war is peace, freedom is slavery, ignorance is strength is what state media tell them. 

Even Soviet propaganda often contained small traces of truth, which was then twisted. 

Today there are not even these traces of truth. 

That is why most Russians are not aware of the horrible war crimes being committed in Ukraine, supposedly on behalf of our country.

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Ukraine update! @ArmchairW
Law & Politics

Ukraine update! @ArmchairW

Significant developments today that may indicate a fundamental change in the way Russia is conducting the entire operation.
I think the Russians are in the process of imposing a set of "mutually acceptable" facts on the ground and then forcing a peace deal.

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Opportunistic Ukrainian attempts to attack outside of the area indicated have failed with heavy losses, as at Liman and Peski. @ArmchairW
Law & Politics

Opportunistic Ukrainian attempts to attack outside of the area indicated have failed with heavy losses, as at Liman and Peski. @ArmchairW

There are rumors of a similar operation staging in Ugledar, which is likely going to have the same fate given the mass of Russian troops in the area.

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Which means that the entire narrative of a successful Ukrainian offensive is itself false - the Russians handed the area over and have been using the opportunity to bomb Ukrainian troops moving in. @ArmchairW
Law & Politics

Which means that the entire narrative of a successful Ukrainian offensive is itself false - the Russians handed the area over and have been using the opportunity to bomb Ukrainian troops moving in. @ArmchairW

This has caused heavy casualties and irreplaceable equipment losses.

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Russian efforts will likely be focused on seizing the remaining Ukrainian-held portion of Donetsk Oblast in the near term. They've told us as much, and I have little doubt they will be successful. @ArmchairW
Law & Politics

Russian efforts will likely be focused on seizing the remaining Ukrainian-held portion of Donetsk Oblast in the near term.  They've told us as much, and I have little doubt they will be successful. @ArmchairW

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Sweden is on the cusp of a power shift, casting aside the ruling Social Democrats in favor of a center-right opposition bloc as vote counting nears the finish line. @bpolitics @economics
Law & Politics

The tally currently shows a one-seat lead for a loose opposition bloc led by the Moderates’ Ulf Kristersson and including the nationalist Sweden Democrats, who have scored their best-ever result. 

Prime Minister Magdalena Andersson is yet to concede defeat. A conclusive result is expected Wednesday.
The biggest Nordic country is changing tack just as the impact of Russia’s war in Ukraine reverberates across Europe, pushing up the cost of energy, which fuels inflation and eats into living standards, portending a recession and sending home values sliding. 
The central bank has started raising borrowing costs, with more hikes forecast. 

Like most global peers, Sweden and its neighbors risk a “toxic cocktail” of the rapidly rising cost of living and sharply higher interest rates upending their housing markets, Helge Pedersen, Nordea’s group chief economist, has said. 
Here are some of the main challenges the new government will face when taking power.
Energy Crisis

In Sweden, the energy shock that’s hitting homes and businesses across Europe is felt particularly in the south, where households are reeling under record-high costs, even as power flows to neighboring countries from northern Sweden made it the region’s largest electricity exporter in the first half.
The sense of impending crisis is profound after decades of stable and low electricity prices and in response, both coalitions have promised to protect consumers from the worst effects.
Longer term, Sweden will have huge energy needs as it transitions to a fossil-free economy, with large-scale plans underway to make electric-vehicle batteries as well as steel produced without burning coal. 

Nuclear power became a flash point in the election campaign as the right-wing opposition pledged to support new plants, accusing the Andersson government’s policies for the shutdown of old reactors. 
Labor Market
Despite the resilience of Sweden’s overall economy, unemployment among young people and those with immigrant background grew during the pandemic. 

The resulting two-tiered labor market has remained one of the key challenges that authorities such as the International Monetary Fund have urged the country to focus on.
While Sweden has slashed immigration by half from its peak in 2016, the Sweden Democrats have signaled they would go much further to stem the flow, and aim to repatriate refugees to war-torn countries such as Syria.
What Bloomberg Economics Says...
“Rising nationalist sentiment across Europe has gained some traction in Swedish politics, and in the case of a potential right-wing coalition government could spell significant changes in immigration policy. 

That, in turn, would drag on the expanding pool of available workers in Sweden, and dampen the impact on the labor component of potential growth going forward.”
--Selva Bahar Baziki, Sweden and Turkey economist. 
Real-Estate Slump
While the clouds gathering over Sweden’s property market were largely overlooked in the election, the next government will have to tackle increasing voter angst over a projected slump in home valuations. 

Economists are expecting housing prices to tumble as much as 20% from a peak earlier in the spring, and this year has already seen declines of about 8% on national level. 

At the same time, loan costs for mortgage borrowers could soon double as the Riksbank continues with its aggressive round of interest-rate hikes in the face of surging inflation rates.
As for now, the main concern is the effect on consumption rather than a crash which would reverberate through the banking sector. 

As households are seeing real wages drop along with home values, they are expected to tighten purse strings to an extent that could lead to the biggest Nordic economy contracting next year.  
A further area of concern for the incoming financial markets minister and finance minister is the raft of highly leveraged property companies, which now face substantially higher refinancing costs

The Riksbank and the financial watchdog have already warned that the commercial real estate sector poses a threat to Sweden’s financial stability and may impact banks’ loan portfolios. 

Investors are spooked and the government will have to keep close tabs on those landlords that provide critical social infrastructure, such as schools and hospitals.
Fiscal Prudence
Like its Nordic peers, Sweden’s economy has fared better than many during the pandemic, due to its relatively large dependence on exports, robust public finances backing a strong social safety net and digital progress.
Still, with the cost-of-living squeeze, and a recession looming next year, any incoming government will need to maneuver skillfully to strike a balance between easing households’ pain, and avoiding fanning the flames of inflation that’s already accelerating.
At the same time, investments are needed to prop up the country’s welfare sector and law enforcement, expand its military defense and finance a push to move to a net zero-emission economy by 2045.   
While Sweden’s public debt of less than 35% of gross domestic product means it has room to boost spending, current rules stipulate it must generate a surplus over a business cycle. 

The Social Democrats have argued for replacing that guideline with a balanced-budget target, but there is no consensus across the political spectrum.

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@johnpilger Silencing the Lambs — How Propaganda Works @Consortiumnews
Law & Politics

@johnpilger  Silencing the Lambs — How Propaganda Works @Consortiumnews 

In the 1970s, I met one of Hitler’s leading propagandists, Leni Riefenstahl, whose epic films glorified the Nazis. 

We happened to be staying at the same lodge in Kenya, where she was on a photography assignment, having escaped the fate of other friends of the Fuhrer.
She told me that the “patriotic messages” of her films were dependent not on “orders from above” but on what she called the “submissive void” of the German public.
Did that include the liberal, educated bourgeoisie? I asked.  “Yes, especially them,” she said. 
I think of this as I look around at the propaganda now consuming Western societies. 

Of course, we are very different from Germany in the 1930s. We live in information societies. We are globalists. We have never been more aware, more in touch, better connected. 
Or do we in the West live in a Media Society where brainwashing is insidious and relentless, and perception is filtered according to the needs and lies of state and corporate power? 
The United States dominates the Western world’s media. All but one of the top 10 media companies are based in North America. 

The internet and social media – Google, Twitter, Facebook – are mostly American owned and controlled.
In my lifetime, the United States has overthrown or attempted to overthrow more than 50 governments, mostly democracies. 

It has interfered in democratic elections in 30 countries. It has dropped bombs on the people of 30 countries, most of them poor and defenceless. 

It has attempted to murder the leaders of 50 countries.  It has fought to suppress liberation movements in 20 countries. 
The extent and scale of this carnage is largely unreported, unrecognised, and those responsible continue to dominate Anglo-American political life.
In the years before he died in 2008, the playwright Harold Pinter made two extraordinary speeches, which broke a silence.
“U.S. foreign policy,” he said, is
“best defined as follows: kiss my arse or I’ll kick your head in. It is as simple and as crude as that. What is interesting about it is that it’s so incredibly successful. It possesses the structures of disinformation, use of rhetoric, distortion of language, which are very persuasive, but are actually a pack of lies. It is very successful propaganda. They have the money, they have the technology, they have all the means to get away with it, and they do.”

In accepting the Nobel Prize for Literature, Pinter said this: 
“The crimes of the United States have been systematic, constant, vicious, remorseless, but very few people have actually talked about them. You have to hand it to America. It has exercised a quite clinical manipulation of power worldwide while masquerading as a force for universal good. It’s a brilliant, even witty, highly successful act of hypnosis.”
Pinter was a friend of mine and possibly the last great political sage – that is, before dissenting politics were gentrified. 

I asked him if the “hypnosis” he referred to was the “submissive void” described by Leni Riefenstahl. 
“It’s the same,” he replied. “It means the brainwashing is so thorough we are programmed to swallow a pack of lies. If we don’t recognise propaganda, we may accept it as normal and believe it. That’s the submissive void.”

In our systems of corporate democracy, war is an economic necessity, the perfect marriage of public subsidy and private profit: socialism for the rich, capitalism for the poor. 

The day after 9/11 the stock prices of the war industry soared. More bloodshed was coming, which is great for business.

Today, the most profitable wars have their own brand. They are called “forever wars” — Afghanistan, Palestine, Iraq, Libya, Yemen and now Ukraine. All are based on a pack of lies.
Iraq is the most infamous, with its weapons of mass destruction that didn’t exist. 

NATO’s destruction of Libya in 2011 was justified by a massacre in Benghazi that didn’t happen. 

Afghanistan was a convenient revenge war for 9/11, which had nothing to do with the people of Afghanistan. 
Today, the news from Afghanistan is how evil the Taliban are —not that U.S. President Joe Biden’s theft of $7 billion of the country’s bank reserves is causing widespread suffering. 

Recently, National Public Radio in Washington devoted two hours to Afghanistan — and 30 seconds to its starving people.
At its summit in Madrid in June, NATO, which is controlled by the United States, adopted a strategy document that militarises the European continent, and escalates the prospect of war with Russia and China. 

It proposes “multi domain warfighting against nuclear-armed peer-competitor.” In other words, nuclear war.

It says: “NATO’s enlargement has been an historic success.” 

I read that in disbelief. 
The news from the war in Ukraine is mostly not news, but a one-sided litany of jingoism, distortion, omission.  I have reported a number of wars and have never known such blanket propaganda. 
In February, Russia invaded Ukraine as a response to almost eight years of killing and criminal destruction in the Russian-speaking region of Donbass on their border. 
In 2014, the United States had sponsored a coup in Kiev that got rid of Ukraine’s democratically elected, Russian-friendly president and installed a successor whom the Americans made clear was their man. 

In recent years, American “defender” missiles have been installed in eastern Europe, Poland, Slovenia, the Czech Republic, almost certainly aimed at Russia, accompanied by false assurances all the way back to James Baker’s “promise” to Soviet leader Mikhail Gorbachev in February 1990 that NATO would never expand beyond Germany. 

NATO on Hitler’s Borderline
Ukraine is the frontline. NATO has effectively reached the very borderland through which Hitler’s army stormed in 1941, leaving more than 23 million dead in the Soviet Union. 
Last December, Russia proposed a far-reaching security plan for Europe. This was dismissed, derided or suppressed in the Western media. 

Who read its step-by-step proposals? On Feb. 24, President Volodymyr Zelensky threatened to develop nuclear weapons unless America armed and protected Ukraine.  
On the same day, Russia invaded — an unprovoked act of congenital infamy, according to the Western media. 

The history, the lies, the peace proposals, the solemn agreements on Donbass at Minsk counted for nothing. 

On April 25, U.S. Defense Secretary Lloyd Austin flew into Kiev and confirmed that America’s aim was to destroy the Russian Federation — the word he used was “weaken.” 

America had got the war it wanted, waged by an American bankrolled and armed proxy and expendable pawn.

Almost none of this was explained to Western audiences.
Russia’s invasion of Ukraine is wanton and inexcusable. It is a crime to invade a sovereign country. There are no “buts” — except one.
When did the present war in Ukraine begin and who started it? 

According to the United Nations, between 2014 and this year, some 14,000 people have been killed in the Kiev regime’s civil war on the Donbass. Many of the attacks were carried out by neo-Nazis. 
Watch an ITV news report from May 2014, by the veteran reporter James Mates, who is shelled, along with civilians in the city of Mariupol, by Ukraine’s Azov (neo-Nazi) battalion.

In the same month, dozens of Russian-speaking people were burned alive or suffocated in a trade union building in Odessa besieged by fascist thugs, the followers of the Nazi collaborator and anti-Semitic fanatic Stepan Bandera.  The New York Times called the thugs “nationalists.”

“The historic mission of our nation in this critical moment,” said Andreiy Biletsky, founder of the Azov Battaltion, “is to lead the White Races of the world in a final crusade for their survival, a crusade against the Semite-led Untermenschen.”
Since February, a campaign of self-appointed “news monitors” (mostly funded by the Americans and British with links to governments) have sought to maintain the absurdity that Ukraine’s neo-Nazis don’t exist. 
Airbrushing, once associated with Stalin’s purges, has become a tool of mainstream journalism.
In less than a decade, a “good” China has been airbrushed and a “bad” China has replaced it: from the world’s workshop to a budding new Satan.  
Much of this propaganda originates in the U.S., and is transmitted through proxies and “think-tanks,” such as the notorious Australian Strategic Policy Institute, the voice of the arms industry, and by journalists such as Peter Hartcher of The Sydney Morning Herald, who has labeled those spreading Chinese influence as “rats, flies, mosquitoes and sparrows” and suggested these “pests” be “eradicated.” 

News about China in the West is almost entirely about the threat from Beijing. Airbrushed are the 400 American military bases that surround most of China, an armed necklace that reaches from Australia to the Pacific and south east Asia, Japan and Korea. 

The Japanese island of Okinawa and the Korean island of Jeju are like loaded guns aimed point blank at the industrial heart of China. A Pentagon official described this as a “noose.”

Palestine has been misreported for as long as I can remember. To the BBC, there is the “conflict” of “two narratives.” The longest, most brutal, lawless military occupation in modern times is unmentionable. 
The stricken people of Yemen barely exist. They are media unpeople.  

While the Saudis rain down their American cluster bombs with British advisers working alongside the Saudi targeting officers, more than half a million children face starvation.
This brainwashing by omission is not new. The slaughter of the First World War was suppressed by reporters who were given knighthoods for their compliance.  

In 1917, the editor of The Manchester Guardian, C.P. Scott, confided to Prime Minister Lloyd George: “If people really knew [the truth], the war would be stopped tomorrow, but they don’t know and can’t know.”
The refusal to see people and events as those in other countries see them is a media virus in the West, as debilitating as Covid.  

It is as if we see the world through a one-way mirror, in which “we” are moral and benign and “they” are not. It is a profoundly imperial view.
The history that is a living presence in China and Russia is rarely explained and rarely understood. Vladimir Putin is Adolf Hitler. Xi Jinping is Fu Man Chu. 

Epic achievements, such as the eradication of abject poverty in China, are barely known. How perverse and squalid this is.
When will we allow ourselves to understand? Training journalists factory style is not the answer. 

Neither is the wondrous digital tool, which is a means, not an end, like the one-finger typewriter and the linotype machine.
In recent years, some of the best journalists have been eased out of the mainstream. “Defenestrated” is the word used. 

The spaces once open to mavericks, to journalists who went against the grain, truth-tellers, have closed.  
The case of Julian Assange is the most shocking.  When Julian and WikiLeaks could win readers and prizes for The Guardian, The New York Times and other self-important “papers of record,” he was celebrated. 
When the dark state objected and demanded the destruction of hard drives and the assassination of Julian’s character, he was made a public enemy. 

Vice President Joe Biden compared him to a “hi-tech terrorist.” Hillary Clinton asked, “Can’t we just drone this guy?” 
The ensuing campaign of abuse and vilification against Julian Assange — the U.N. rapporteur on torture called it “mobbing” — brought the liberal press to its lowest ebb. 

We know who they are. I think of them as collaborators: as Vichy journalists. 
When will real journalists stand up? An inspirational samizdat  already exists on the internet: Consortium News, founded by the great reporter Robert Parry, 

Max Blumenthal’s  The Grayzone, Mint Press News, Media Lens, DeclassifiedUK, Alborada, Electronic Intifada, WSWS, ZNet, ICH, CounterPunch, Independent Australia, the work of Chris Hedges, Patrick Lawrence, Jonathan Cook, Diana Johnstone, Caitlin Johnstone and others who will forgive me for not mentioning them here. 
And when will writers stand up, as they did against the rise of fascism in the 1930s? 

When will film-makers stand up, as they did against the Cold War in the 1940s? 

When will satirists stand up, as they did a generation ago? 
Having soaked for 82 years in a deep bath of righteousness that is the official version of the last world war, isn’t it time those who are meant to keep the record straight declared their independence and decoded the propaganda? The urgency is greater than ever.

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Leni Riefenstahl and a camera crew stand in front of Hitler’s car during 1934 rally in Nuremberg. (Bundesarchiv, CC-BY-SA 3.0, Wikimedia Commons) @Consortiumnews
Law & Politics

Whoever Controls The Narrative Controls The World

Walter Lippmann,  As he put it, "Men respond as powerfully to fictions as they do to realities [and] in many cases they help to create the very fictions to which they respond."
"the casual fact, the creative imagination, the will to believe, and out of these three elements, a counterfeit of reality."
 Our minds are literally besieged by these Weapons of Mass Communication (as he calls them), creating a "panic-driven tele-reality" and resulting in an odd kind of "emotional synchronisation ... in which terror must be instantaneously felt by all ... on the scale of a global terrorism".

And it all left me wondering Who exactly is controlling the Console?

"It was the first non-linear war," writes Surkov in a new short story, "Without Sky," published under his pseudonym and set in a dystopian future after the "fifth world war"

The underlying aim, Surkov says, is not to win the war, but to use the conflict to create a constant state of destabilised perception, in order to manage and control
a decade of "semiotic arousal" when everything, it seemed, was a sign, a harbinger of some future radical disjuncture or cataclysmic upheaval.

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For a while regime change was de rigeur

For a while regime change was de rigeur

For a while regime change was de rigeur
Muammar Gaddafi was decapitated and the domino effect only stopped when Vladimir Putin decided he was going to put a stop to it and intervened on behalf of Bashar Al-Assad in Syria.

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24 OCT 11 :: Gaddafi's Body in a Freezer - What's the Message?
Law & Politics

24 OCT 11 :: Gaddafi's Body in a Freezer - What's the Message?

The image of a bloodied Gaddafi, then of a dead Gaddafi in a meat locker have flashed around the world via the mobile, YouTube and Twitter.

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The systemic event is someone challenging the hegemon, and today, Russia and China are challenging the U.S. hegemon. War and Industrial Policy @CreditSuisse Zoltan Pozsar
Law & Politics

In today’s context, Russia and China are basically the “short sellers” that are challenging the U.S.-led world order, and according to Geithner’s approach, we should be using “overwhelming force, not piecemeal – the Vietnam approach; what we thought was overwhelming force didn’t stop the run; the markets weren’t sure the commitment was credible. 

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Currency Markets At A Glance
World Currencies

Euro 0.997070
Dollar Index 109.844
Japan Yen 143.595 
Swiss Franc 0.96157
Pound 1.148780 
Aussie 1.148780 
India Rupee 79.56785
South Korea Won 1391.80
Brazil Real 5.1905
Egypt Pound 19.334627
South Africa Rand 17.44155

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World Currencies



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The dollar rallied 1.5% @ReutersJamie
World Currencies

The dollar rallied 1.5% @ReutersJamie

Apart from a few days in March 2020, peak fear & panic over covid, this is the dollar's biggest rise since a 2% surge on June 24, 2016 (day after the UK Brexit referendum).

Only one other bigger rise in the last decade (Feb 6, 2015).

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UK GDP grows 0.2% m/m in July, less than expected (0.4%) @BruceReuters
World Of Finance

UK GDP grows 0.2% m/m in July, less than expected (0.4%) @BruceReuters

• Weakness centred on industry, construction
• No big bank holiday effect
• ONS says anecdotal evidence of reduction in demand for power because of cost, but was also a hot month

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@IMFNews Postpones Mission to Malawi for Work on Debt Treatment @markets

@IMFNews  Postpones Mission to Malawi for Work on Debt Treatment @markets 

The International Monetary Fund postponed a planned mission to Malawi to allow further discussions on the treatment of its debt, Finance Minister Sosten Gwengwe said.
IMF staff had been due in the southern African nation this week for talks on a four-year Extended Credit Facility. 

Two years ago, newly elected President Lazarus Chakwera canceled an IMF program agreed by his predecessor to better align it with the country’s development strategy.
Talks about the new program are continuing, Gwengwe said. He denied a report in the local Daily Times newspaper earlier on Tuesday that discussions were suspended over a disagreement about the nation’s debt sustainability.
“Negotiations are still going on,” he said by text message. “There are no disagreements between Malawi and the IMF. The mission team is working hard for us, but agreement on how best and how deep our debt treatment should be is where we need to agree, hence the need to push forward the mission.”
Malawi needs IMF funding to help alleviate a foreign-exchange shortage that’s spawned a fuel crisis in the impoverished nation. 

The paucity of foreign currency forced the central bank to devalue the kwacha by 25% in May. Inflation has surged to 24.6%, from 11.5% at the start of the year.
Malawi is among dozens of low-income countries whose debt the IMF deems unsustainable, which restricts it from helping, IMF Managing Director Kristalina Georgieva said in an interview with CNBC TV-18 on Sept. 9.

The fund’s policies bar it from bailing out countries with unsustainable debt, unless they have taken steps to restore it to viable levels. 

Creditors including China and private lenders must “move rapidly to provide debt relief” to enable the IMF to help revive low-income countries’ economies, Georgieva said.
Malawi’s total external debt stood at $3.64 billion at the end of March. Its foreign loans include $254 million from the Export-Import Bank of China, $1.57 billion from the World Bank and the IMF, and $460.7 million from the African Export-Import Bank, according to Finance Ministry data.
Gwengwe said that while the government thinks it has done enough to restructure its debt, “the IMF thinks more should be done.”
IMF Resident Representative for Malawi Farayi Gwenhamo didn’t respond to a request for comment sent by text message, while a call to her mobile phone didn’t connect.
The IMF said in June that Malawi’s ability to restore debt sustainability and resolving a case involving the misreporting of Reserve Bank of Malawi foreign-exchange reserves are prerequisites to the country receiving new funding.

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by Aly Khan Satchu (www.rich.co.ke)
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September 2022

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