Author: admin

Authored by Burak Bekdil via The Gatestone Institute,

Turkey’s economy minister, Berat Albayrak, has said that the discovery of a large natural gas field off Turkey’s Black Sea coast will change Turkey’s [political] axis. “Neither the West, nor the East, Turkey’s new axis is Turkey,” said Albayrak, Turkish President Recep Tayyip Erdoğan’s son-in-law. The discovery, at an estimated 320 billion cubic meters (bcm) of deep sea gas, marks a historic day for Turkey, Erdoğan said, the beginning of a new era.

Erdoğan announced that production at the site could start by 2023 — when Turks will go to ballot box for presidential and parliamentary elections. Officials in Ankara hopes the discovery will meet Turkey’s natural gas needs for 7-8 years, and earn the national economy $65 billion.

There is unprecedented euphoria in the pro-Erdoğan media. There is massive propaganda talk of “a Turkish moment,” of “Turkey on the way to becoming a global power.” All this is understandable in a country with a per capita GDP of barely $9,000, an ailing economy and a plunging national currency — and in need of epic stories to keep voters within the realm of hope. How much of this newfound Turkish hope is fact-based? Could the “Turkish moment” really be coming? Will Turkey be a global power with 320 bcm of natural gas?

There are a number of reasons to be cautious about the Turkish optimism.

Hydrocarbon discoveries in the shape of “breaking news” have been part of Erdogan’s propaganda machinery since 2004.

“This is the ninth discovery since then… I was hoping for them to discover ready-to-use gasoline this time,” joked columnist Yılmaz Özdil.

It might be useful to compare Turkey’s 320 bcm gas discovery with the proven reserves of some of the countries that are not “global powers:” Turkmenistan, 12.1 trillion cubic meters (tcm); Algeria, 4.5 tcm; Egypt, 2.2 tcm; Kazakhstan, 1.8 tcm; Uzbekistan, 1.5 tcm; Oman, 677 bcm; Pakistan, 567 bcm; Bangladesh, 549 bcm; Peru, 375 bcm; and Angola, 343 bcm. That is not really the elite club of world power.

Experts remain cautious.

“There are a lot of unknowns,” said analyst Atilla Yeşilada of Global Source Partners. “We don’t know how much it’s going to cost to extract, what the purity of the gas is, all at a time of record low gas prices.”

“Turkey, Yeşilada continued, “is committed to long-term contracts of buying piped gas from Iran, Azerbaijan and Russia. You can’t simply walk out of those contracts… Selling gas on the world market will not be easy either, as there is an oversupply.”

Ashley Sherman of Wood Mackenzie told Financial Times:

“This is an estimate based on just a discovery well that will need to be confirmed by further drilling of appraisal wells.”

Sinem Adar, a researcher at the German Institute for International and Security Affairs in Berlin, said that the timing of the announcement and the hype around it appeared partly to stem from the need to create some “excitement” to distract from economic problems.

Erdoğan’s economy czars apparently hoped that the president’s high-profile announcement of the gas discovery would reverse the Turkish lira’s 20% slide since the beginning of the year. Instead of racing ahead, the lira remained slightly weaker against major western currencies on trading days Friday and Monday.

Ironically, on the same day as Erdoğan announced the discovery, Fitch Ratings revised the outlook on Turkey’s Long-Term Issuer Default Ratings from “Stable” to “Negative”.

Fitch also warned that Turkey’s GDP would shrink by 10% in the second quarter of 2020. A looming economic crisis is forcing Erdoğan to consolidate his voter base by epic stories of global Turkish might — including military.

In July, Erdoğan converted an iconic sixth-century monumental Byzantine Orthodox church, Hagia Sophia, into a mosque, pleasing millions of conservative and nationalist Muslim Turks. On August 21, Erdoğan also issued a decree to open to Muslim worship another Orthodox church, the 1,000-year-old Kariye (or Chora), previously a popular Istanbul museum.

Erdoğan has also ordered an escalation of military tensions in the Aegean and Mediterranean seas with Greece. He has sent combat forces to Iraq, and northern Syria, and military trainers and equipment to Libya. “Turkey’s never-ending military challenge against world powers in seas and land” makes for hundreds of stories of Turkish heroism in the media, which is largely controlled by Erdoğan and his business cronies.

Now comes the promise of tens of billions of gas-dollars from the Turkish merchant of dreams. Experts say production at the Black Sea field could start in 7-10 years, at best. Erdoğan has promised 2023 for production. In that election year, Turkish voters may question the availability of natural gas, or, more realistically, they may ask Erdoğan why they are still paying high gas bills to heat their homes.

In what appears to be a political stunt by cannabis activists in Israel, a civilian drone buzzed around city streets, dropping hundreds of bags filled with marijuana.

The bizarre incident took place on Thursday afternoon over Rabin Square, a large public city square in the center of Tel Aviv, resulting in dozens of people storming the streets to pick up free weed. 

Ahead of the drop, Green Drone, a pro-legalization group, responsible for operating the drone, published a message on cloud-based instant messaging platform, Telegram, saying: 

“The time has come… Is it a bird? Is it a plane? No, it’s the Green Drone sending you free cannabis from the skies.” 

The message also detailed how Green Drone is launching a new delivery service in Tel Aviv called “rain on cannabis:” 

“We’re launching the ‘rain of cannabis’ project, that will include a weekly delivery to different parts of the country of 1 kilo of cannabis divided into free 2 gram bags,” the message stated.

Shortly after the drop, Israel Police arrested two men who were allegedly piloting the drone. Police said the baggies were stuffed with “a dangerous drug” and that officers managed to recover some of the baggies. 

The police took images of what appears to be marijuana stuffed inside small plastic baggies. 

One video captures the moment when the drone released the cannabis baggies.

הזייה בכיכר רבין: רחפן הטיל מהשמיים עשרות שקיות של מריחואנה. מי שעומד מאחורי המיזם זאת קבוצה שמכנה את עצמה “הרחפן הירוק”. בגלל שלא חישבו נכון את הרוח, רוב החומר התפזר על הכביש באבן גבירול. עוברי אורח נהנו מהשלל@ynetalerts pic.twitter.com/xeziJsH950

— איתי בלומנטל Itay Blumental (@ItayBlumental) September 3, 2020

An image shows people rushing into the streets. 

The medical use of cannabis is allowed in Israel, while recreational is still illegal. There’s a big push for decriminalization as the country approved exports of medical cannabis in May.

Via AlMasdarNews.com,

On Thursday, Turkish Defense Minister Hulusi Akar inaugurated the “Year of Flight Training 2020-2021” for the Air Force, by conducting a tour on board an F-16 over the Aegean Sea, between Turkey and Greece.

Akar flew an F-16 fighter jet over the Aegean Sea, passing over the Dardanelles Strait where he saluted the Martyrs’ Monument that commemorates Ottoman Turkey’s World War I victory against the Allied forces at Gallipoli.

“We will continue the struggle in the spirit of Canakkale, and we will work hard in a manner that befits all our martyrs, especially those who are here,” Akar said during his flight over the Aegean, addressing his companions in the other fighters.

The Turkish minister expressed his wishes that the new training year would be a successful year, according to what was published by “Anatolia” agency.

Earlier, Akar said that the armed forces are determined and able to protect the country, the people, their moral values ​​and their interests, whatever the cost.

Millî Savunma Bakanı Hulusi Akar’ın Ege’nin kuzeyinde gerçekleştirdiği özel uçuştan görüntüler…#MSB #HulusiAkar pic.twitter.com/rs1JNXOW7m

— T.C. Millî Savunma Bakanlığı (@tcsavunma) September 3, 2020

He added in reference to soaring tensions with Greece, Cyprus and the EU:

“We will not yield to threats and blackmail in the eastern Mediterranean, and we will defend our rights in accordance with international laws and bilateral agreements.”

This comes as the eastern Mediterranean gas exploration row gets hotter and increasingly militarized, given Greece and Cyprus say Turkey is violating their sovereign waters and Exclusive Economic Zones.

As global central banks continue to flood the system with money, insisting inflation is non-existent, as such, the Federal Reserve last week announced a new approach to inflation would let it run over the 2% target, food price inflation is rising this summer, according to a new report via the United Nations food agency. 

Food and Agriculture Organization (FAO) of the United Nations said world food prices rose for the third consecutive month in August, led by increases in coarse grains, vegetable oils, and sugar. 

FAO’s food price index, which tracks food prices monthly, averaged 96.1 in August versus 94.3 in July. The index dropped from January through April due to the virus-related recession, bottoming in May and reversing through summer. 

Here’s a long-term view of FAO’s food price index.

As grains, vegetable oils and sugar prices are on the rise, the good news for consumers is that dairy and meat prices were unchanged. Readers may recall beef prices exploded in the US during the pandemic as meat plant closures led to supply chain chaos. 

Here’s a breakdown of FAO’s report: 

As grains, vegetable oils, and sugar prices are on the rise, the good news for consumers is that dairy and meat prices slumped were unchanged. Here’s a breakdown of FAO’s report: 

The FAO Cereal Price Index rose by 1.9 percent from July, averaging 7.0 percent above its value in August 2019, with coarse grains leading the rise. Sorghum prices rose 8.6 percent – and stood at 33.4 percent above their year-ago level, mostly on the back of strong import demand by China. Maize prices rose 2.2 percent amid concerns that recent crop damages in Iowa would impact supply. International rice prices also rose, underpinned by seasonally tight availabilities and increasing African demand.

The FAO Sugar Price Index rose by 6.7 percent from the previous month, reflecting reduced production prospects due to unfavorable weather conditions in the European Union and Thailand, the world’s second-largest sugar exporter, as well as strong import demand by China.

The FAO Vegetable Oil Price Index increased by 5.9 percent, led by firmer values for palm oil especially, but also soy, sunflower, and rapeseed oils. The moves mainly reflect prospective production slowdowns in leading palm oil-producing countries amid firm global import demand.

The FAO Dairy Price Index was virtually unchanged from July, with cheese and whole milk powder quotations declining amid expectations of ample seasonal export availabilities in Oceania, while butter prices rose due to tightening export availabilities in Europe in the wake of the August heatwave reducing milk output. 

The FAO Meat Price Index was also almost unchanged since July – although down 8.9 percent from August 2019 – as the effect of lower import demand for bovine, poultry, and ovine meats was offset by surging import demand for pigmeat from China. -FAO 

A rise in food prices this summer is a reminder that inflation in a post-pandemic world is real, and what’s worse is that it’s disproportionately hammering poor households.

Simultaneously, worldwide economic activity is starting to sputter as surging virus cases in the US, Europe, and Southeast Asia have forced many local governments to reimpose strict public health orders, which could jeaprodize the recovery in world trade for the back half of 2020. 

A faltering global recovery, with depressionary unemployment, blended with rising food price inflation is more bad news for low-income households worldwide. 

So can central banks ignore food price inflation? The answer is no – as soaring food costs have the risk to incite further social unrest.

Authored by Craig Murray,

Once Navalny was in Berlin it was only a matter of time before it was declared that he was poisoned with Novichok.

The Russophobes are delighted…

This of course eliminates all vestiges of doubt about what happened to the Skripals, and proves that Russia must be isolated and sanctioned to death and we must spend untold billions on weapons and security services. We must also increase domestic surveillance, crack down on dissenting online opinion. It also proves that Donald Trump is a Russian puppet and Brexit is a Russian plot.

I am going to prove beyond all doubt that I am a Russian troll by asking the question Cui Bono?, brilliantly identified by the Integrity Initiative’s Ben Nimmo as a sure sign of Russian influence.

I should state that I have no difficulty at all with the notion that a powerful oligarch or an organ of the Russian state may have tried to assassinate Navalny. He is a minor irritant, rather more famous here than in Russia, but not being a major threat does not protect you against political assassination in Russia.

What I do have difficulty with is the notion that if Putin, or other very powerful Russian actors, wanted Navalny dead, and had attacked him while he was in Siberia, he would not be alive in Germany today. If Putin wanted him dead, he would be dead.

Let us first take the weapon of attack.

One thing we know about a “Novichok” for sure is that it appears not to be very good at assassination. Poor Dawn Sturgess is the only person ever to have allegedly died from “Novichok”, accidentally according to the official narrative. “Novichok” did not kill the Skripals, the actual target. If Putin wanted Navalny dead, he would try something that works. Like a bullet to the head, or an actually deadly poison.

“Novichok” is not a specific chemical. It is a class of chemical weapon designed to be improvised in the field from common domestic or industrial precursors. It makes some sense to use on foreign soil as you are not carrying around the actual nerve agent, and may be able to buy the ingredients locally. But it makes no sense at all in your own country, where the FSB or GRU can swan around with any deadly weapon they wish, to be making homemade nerve agents in the sink. Why would you do that?

Further we are expected to believe that, the Russian state having poisoned Navalny, the Russian state then allowed the airplane he was traveling in, on a domestic flight, to divert to another airport, and make an emergency landing, so he could be rushed to hospital.

If the Russian secret services had poisoned Navalny at the airport before takeoff as alleged, why would they not insist the plane stick to its original flight plan and let him die on the plane? They would have foreseen what would happen to the plane he was on.

Next, we are supposed to believe that the Russian state, having poisoned Navalny, was not able to contrive his death in the intensive care unit of a Russian state hospital.

We are supposed to believe that the evil Russian state was able to falsify all his toxicology tests and prevent doctors telling the truth about his poisoning, but the evil Russian state lacked the power to switch off the ventilator for a few minutes or slip something into his drip. In a Russian state hospital.

Next we are supposed to believe that Putin, having poisoned Navalny with novichok, allowed him to be flown to Germany to be saved, making it certain the novichok would be discovered. And that Putin did this because he was worried Merkel was angry, not realising she might be still more angry when she discovered Putin had poisoned him with novichok

There are a whole stream of utterly unbelievable points there, every single one of which you have to believe to go along with the western narrative.

Personally I do not buy a single one of them, but then I am a notorious Russophile traitor.

The United States is very keen indeed to stop Germany completing the Nord Stream 2 pipeline, which will supply Russian gas to Germany on a massive scale, sufficient for about 40% of its electricity generation. Personally I am opposed to Nord Stream 2 myself, on both environmental and strategic grounds. I would much rather Germany put its formidable industrial might into renewables and self-sufficiency. But my reasons are very different from those of the USA, which is concerned about the market for liquefied gas to Europe for US produces and for the Gulf allies of the US. Key decisions on the completion of Nord Stream 2 are now in train in Germany.

The US and Saudi Arabia have every reason to instigate a split between Germany and Russia at this time. Navalny is certainly a victim of international politics. That he is a victim of Putin I tend to doubt.

*  *  *

The UK state is of course currently trying to silence one small bubble of dissent by imprisoning me, so you will not have access to another minor but informed view of world events for you to consider. Yesterday I launched a renewed appeal for funds for my legal defence in the Contempt of Court action against me for my reporting of the attempted fit-up of Alex Salmond. I should be extremely grateful if you can contribute to my defence fund, or subscribe to my blog. Click here to donate…

Authored by Phillip Schneider via Phillipschneider.com,

Rebels are a very important part of society, but they rarely get the recognition they deserve. They help us break through old norms and keep us from falling into groupthink. However, human nature urges most of us to remain in our comfort zone even when it means less freedom or more difficult problems down the road.

Why is it the case that so many people ignore the outside world or pass it off as somebody else’s problem until it reaches their own doorstep? In a recent video, Brittany Sellner (Brittany Pettibone before she married) describes the seven reasons men obey authority, even when it is against their best interest.

#1 Habit

As everybody knows, habits are extremely difficult to break and even if we have gripes about the state of things, accepting our imperfect reality seems better to us than taking on the daunting prospect of change. Conversely… habit ceases to be a reason for obedience in times of political crisis; kind of similar to what we are experiencing now as a consequence of Covid. Despite many of us not wanting to alter our habits, our habits were forcibly altered for us.

#2 Moral Obligation

The second reason for obedience is moral obligation which is obviously a motive that is very often found in religion, but politically speaking… some see it as a moral obligation to ‘1) obey for the good of society,’ 2) ‘due to the ruler having superhuman factors such as being a supernatural being or a deity,’ which isn’t something that I think applies to too many Americans… 3) People see it as a moral obligation to obey because they ‘perceive the command as being legitimate, owing to its source an issuer’. For example, a mayor or a police officer [would be considered under this reason], and 4) People see it as a moral obligation to obey due to ‘conformity of commands to accepted norms.’ For example, most people believe that a command such as not committing murder is a moral command and therefore, they obey it.

#3 Self-Interest

The third reason for obedience is self-interest and this is perhaps one of the more common motives nowadays. For example, most big corporations are immoral and seek to piggy-back off of current social and political trends in order to gain money, status, and approval. Just look at all the corporations that suddenly became ‘champions of social justice’ after the death of George Floyd; none of them gave a crap about police brutality and Black Lives Matter until it became in their interest to care.

This self-interest can of course also extend to individuals. Famous and non-famous people have a lot to gain by falling in line, or… there is also a negative self-interest wherein the person doesn’t obey simply because they’re going to gain something but so they won’t lose everything: their reputations, jobs, social standing and future career prospects.

#4 Psychological Identification with the Ruler

The fourth reason for obedience is psychological identification with the ruler, meaning that people have a close emotional connection with the ruler, regime, or the system. I imagine you would have encountered a lot of this in, for example, Communist Russia or Nazi Germany.

#5 Zones of Indifference

The fifth reason for obedience is an extremely common one today and that is ‘zones of indifference,’ meaning that even if people are not fully satisfied with the state of things, they have a margin of indifference or a margin of tolerance for the negative aspects of their society and government.

#6 Fear of Sanctions

The sixth reason for obedience is the most obvious reason… and that is ‘fear of sanctions,’ which generally involve the threat or the use of some form of physical violence against the disobedient subject and induce obedience by power merely coercive, a power really operating on people simply through their fears.

#7 Absence of Self Confidence

Lastly, the seventh and final reason for obedience is the absence of self confidence among subjects, meaning that many people simply don’t have sufficient confidence in themselves, their judgement, and their capacities to make themselves capable of disobedience and resistance.

Thanks to the internet, I observe this motive quite often. Thousands of people decry on the daily that they’re miserable with the state of things and yet they do nothing because they have no confidence in their personal ability to lead, to organize a peaceful protest, to start a movement and so on.

Although authority can be legitimate and meaningful, resistance to unnecessary acts of violence or draconian government injustice is often better for the individual and society and shows greater character than inaction.

Although this is certainly not a comprehensive list, perhaps it will help you to better understand your own role in life and greater society.

Watch Brittany Sellner’s analysis:

*  *  *

After 8 long years of ultra-loose monetary policy from the Federal Reserve, it’s no secret that inflation is primed to soar. If your IRA or 401(k) is exposed to this threat, it’s critical to act now! That’s why thousands of Americans are moving their retirement into a Gold IRA. Learn how you can too with a free info kit on gold from Birch Gold Group. It reveals the little-known IRS Tax Law to move your IRA or 401(k) into gold. Click here to get your free Info Kit on Gold.

At the same time Democrats are trying to put a woman second in line for the Presidency who has a scorching record of jailing over 1,500 people for marijuana violations in barely 5 years as California DA, the U.S. House of Representatives appears to have a different outlook.

The House is now planning for a September vote on The Marijuana Opportunity, Reinvestment, and Expungement Act, which be be a historic bill decriminalizing marijuana at the federal level by removing it from the Controlled Substances Act, according to Fox 29. The bill would “give control to the states to determine the drug’s status and whether to vote to legalize the drug.”

Marijuana is already legal in California, Michigan, Colorado, Illinois, Alaska, Nevada, Oregon, Washington, Massachusetts, Vermont and Maine.

The vote would mark the first time a congressional chamber has chose to remove cannabis from a prohibitive classification. It is currently a Schedule I drug under the Controlled Substances Act, along with drugs like Heroin and ecstasy, which means it is defined as having “no currently accepted medical use and a high potential for abuse.”

The act could also stand at stark odds with Kamala Harris’ past work as California DA, as it “requires federal courts to expunge prior marijuana-related convictions and arrests.” The bill authorizes a 5% sales tax on marijuana to create the “Opportunity Trust Fund”, which will be used to support people who “have been adversely affected by the War on Drugs.”

The bill also limits barriers to marijuana licensing and employment. It was introduced on the floor by Kamala Harris’ fellow Democrat, Jerry Nadler, in 2019. It would still need to pass the Senate. 

Authored by Gerard Scimeca via RealClearMarkets.com,

If our current economy were a swimmer paddling furiously against a surging tide, then California is determined to hand it an anchor. Millions of Americans who work to make ends meet through freelance work in the ‘gig’ economy were recently handed virtual pink slips through AB5, legislation signed into law last year by Governor Gavin Newsom forcing independent contractors to be treated as employees.

With other states now looking to follow suit, it’s time Congress address this atrocious assault on worker freedoms and economic innovation by enacting federal standards on independent contract work. It would be a shallow victory for our economy to rebound from Covid only to have workers tossed out of their freelance jobs by clueless politicians seeking to “protect” their rights.

It should surprise no one that AB5 set in motion a massive economic wrecking ball that already has rideshare giants Uber and Lyft packing their bags to leave the state. Requiring contract workers to be treated as full-fledged employees in California or any state will of course make dozens of similar gig platforms unprofitable, in effect deleting apps right off our phones. A court’s temporary pause of AB5 last week is now holding worker jobs by a thread, causing Uber and Lyft to temporarily suspend plans to leave the state. If the ruling doesn’t hold, over 200,000 freelance workers will be driven out of work and millions of consumers will be left on the side of the road.

It is startling that in today’s modern economy California would even attempt such a clampdown. The one-size-fits-all model of employee-employer relationship is a relic of the distant past. More than a third of the U.S. workforce is currently employed as either full or part-time freelancers. This is no longer an employment niche but a pillar of our current economy. Freelancers earn good money, often sizably more than their employee counterparts. And despite the complaints of some interventionist lawmakers, workers themselves are quite content with the freedom their work offers. In one recent survey, 71 percent claimed increased work opportunities over the previous year.

It is concerning that other states, including New Jersey, New York, and Illinois are considering similar legislation, which is why federal action is required, both to protect part-time, contract workers and set a uniform standard for their employment. The app-driven and freelance gig economy contributes $1.4 trillion in annual value to our nation, and this critical economic engine, along with the people who fuel it, require clear standards that will protect contract workers’ rights as well as set clear terms for companies that employ them.

Consider that when a person loses a job at the loading dock, or a company downsizes, there is at least some comfort that opportunity through the freelance economy has never been greater. Regardless of education or skill level, almost any person can earn income to pay the mortgage, keep the lights on, or food on the table. Smartphone apps provide almost any service one can imagine, with new offerings arising every day. The modern economy offers an entirely new model of worker freedom that is highly correlated with economic growth. In just over a decade technology has made it possible for people to create a studio quality movie with just a phone, or publish a book with just a computer. The obstacles and costly impediments to free-enterprise such as overhead, equipment, physical location, labor, and start-up capital are now gone. People are truly free to exchange their labor and their talents on their terms, to the benefit not of just themselves and their customers, but to our economic vital signs. 

At its heart the gig economy is a repudiation of government interventionism and a corporate structure where companies held all the power. Turning freelance workers into employees erases all the gains workers have made with regard to their freedom to contract and puts them squarely back in the proverbial corporate cubicle.

And the economic harm of these ludicrous laws goes far beyond the gig economy itself. Consider a young family contemplating a new auto purchase. The car may be financially out of reach given their nine-to-five salaries, but the payments quickly become affordable when the buyers supplement their income through freelance rideshare work. Similar transactions multiplied throughout the economy are critical to our recovery. Further, who will develop the “killer apps” of tomorrow if developers know workers will be priced out of the market? A hit to our tech sector is yet another broadside America cannot afford.  

Despite what California or any state may claim, these laws don’t help the “little guy,” they hurt average workers, they hurt consumers, and they hurt our economy when all of us can least afford it. A tremendous engine of growth, the rapidly growing app and gig economy will be taxed to its knees if these employee mandates spread throughout the country, a fact that should concern us all. Who knows what apps that are now part of our daily lives would never have seen the light of day had these crippling rules been in place years ago? It’s time for federal legislation to protect us from rogue lawmakers who will turn back the clock on consumer freedoms and worker rights, and force America to hitchhike to economic recovery.