‘Smoking Gun’ Emails Show Hunter Biden Introduced VP Dad To Burisma Executive

‘Smoking Gun’ Emails Show Hunter Biden Introduced VP Dad To Burisma Executive

Tyler Durden

Wed, 10/14/2020 – 07:20

MSM organizations may have largely ignored findings from a Senate Intel Committee report, released last month, which claimed that some of Hunter Biden’s activities in Ukraine raised “counterintelligence and extortion” concerns. On the day that report dropped, Rep Adam Schiff brushed it aside, accusing his GOP colleagues in the Senate of “promoting the same Russian disinformation”, per the New York Post.

Well, we’d be interested to hear what Schiff & Company have to say about this.

In a shocking report based on documents collected by the FBI – but which haven’t been previously disclosed in the press – the New York Post reveals that Hunter Biden introduced his father – then the Vice President of the United States – to a top executive at Burisma, the shady Ukrainian energy firm where Biden once served as a board member.

Emails contained in the report shed new light on Biden’s claims that he successfully forced former Ukrainian President Petro Poroshenko to fire a public prosecutor named Viktor Shokin. Biden bragged about leveraging $1 billion in US aid to force Poroshenko to fire Shokin, who was opposed by both the US and the EU. However, Shokin was reportedly working on an investigation into the management and executive board of Burisma, a group that included Hunter Biden, and his former business partner Devon Archer, whose conviction on securities fraud charges in the US was recently reinstated.

The emails offer evidence that Hunter Biden did in fact introduce his father to a top executive at Burisma less than a year before the vice president moved to oust Shokin, thereby quashing an investigation into the firm. The meeting is referenced in emails between Vadym Pozharskyi, an advisor to the board of Burisma, who sent Biden an email on April 17, 2015 thanking him for the introduction.

Another email also shows Pozharskyi, believed to be the No. 3 exec at Burisma, asking Biden about how the political scion could “use your influence” to help Burisma.

All of this would seem to undermine Biden’s claim that he has “never spoken to my son about his overseas business dealings”, which also included extensive dealings in China.

Another email dated on May 12, 2014, shortly after Hunter joined the board, shows Pozharskyi attempting to pressure Biden to use his “political leverage” to help the ompany. The message included the subject line “urgent issue” and also references an attempted “shakedown” by Ukrainian prosecutors under Poroshenko. According to Pozharskyi, prosecutors in the country had approached a man referred to as “NZ”, who was identifed by the Post as Burisma founder Mykola Zlochevsky, who went by the Americanized name “Nicholas”.

When “NZ” rebuffed their threats, they proceeded with “concrete actions” including “one or more pretrial proceedings,” Pozharskyi wrote.

“We urgently need your advice on how you could use your influence to convey a message / signal, etc .to stop what we consider to be politically motivated actions,” he added.

The timing of the email is also notable: It was sent just as Burisma was announcing Biden’s decision to join the executive board.

It’s merely the latest piece of evidence suggesting that the company brought Biden on to manage its “legal affairs” because it likely believed his pull with the US would protect Burisma from these types of prosecutorial “shakedowns”.

In addition to the emails, the drive contained photos, some of which were shared with the Post. They spanned from family snaps of Hunter with his father and his kids, to selfies of Biden smoking cigarettes in a variety of unusual poses.

According to the Post, the images and correspondence were taken from the hard drive of a laptop that was dropped off at a repair shop in Delaware, and never retrieved. After seeing what was on the hard drive, the owner of the shop copied it, and turned it over to a lawyer connected with former NYC Mayor Rudy Giuliani. Giuliani reportedly turned it over to the NY Post over the weekend.

We imagine the MSM will cover up this report, as is standard practice for any concerning information involving Hunter Biden’s foreign business dealings.

via ZeroHedge News https://ift.tt/3jXVtvZ Tyler Durden

Bank of America Revenue Tumbles But Earnings Beat On Plunge In Loss Reserves

Bank of America Revenue Tumbles But Earnings Beat On Plunge In Loss Reserves

Tyler Durden

Wed, 10/14/2020 – 07:09

After yesterday’s results from JPMorgan and Citi which initially surprised with the plunge in their Q3 loss provisions (which however the banks explained was not due to some optimism over the economy but merely due to previous overprovisions), today this trend continued when Bank of America reported Q3 results which were generally in line however boosted largely by another far lower than expected provision for loan losses.

The bank reported that in Q3, revenues tumbled by 11% to $20.3BN, down from $22.8BN a year ago, pressured “by low interest rates”, and missing estimates of $20.8BN. This resulted in Net Income of $4.9BN and adjusted EPS of $0.51, also well below last year’s $5.8BN and $0.56, respectively, but slightly stronger than the $0.49 expected.

According to the bank’s presentation, these were the key revenue and net income highlights:

  • Revenue of $20.3B declined 11%, driven by lower net interest income and noninterest income
  • Net interest income of $10.1B ($10.2B FTE 1), down 7% from Q2, driven primarily by lower interest rates as well as lower loan levels
  • Sales and Trading revenue of $3.2B and Investment Banking fees of $1.8B, declined from robust 2Q20 levels
  • Noninterest expense of $14.4B increased $1.0B, or 7%, driven by elevated litigation expense, higher net COVID-19 expenses, and the addition of merchant services expenses
  • Provision expense of $1.4B declined $3.7B
  • Included a $0.4B net reserve build in allowance for credit losses; Net charge-offs of $1.0B were down $0.2B

However, as noted above and just like yesterday, there was just one thing investors were looking at, and that’s the bank’s loan loss provisions. And in keeping with what appears to be the narrative on Wall Street, Bank of America toed the party line, as the loss provision plunged from $5.1BN to just $1.4BN, well below the $1.8BN consensus estimate, if still up 78% from a year ago.

Developing.

 

via ZeroHedge News https://ift.tt/318DXxE Tyler Durden

“Guillotines, Motherf*cker”: Colorado Democratic Committee Member Caught On Hidden Camera Talking Violent Revolution

“Guillotines, Motherf*cker”: Colorado Democratic Committee Member Caught On Hidden Camera Talking Violent Revolution

Tyler Durden

Wed, 10/14/2020 – 07:03

Prominent Colorado Democrat Khristopher Jacks, who sits on the executive committee for the state’s Democratic party and chairman of leftist organization “Our Revolution” was caught on undercover footage by Project Veritas promoting a violent agenda for far-left Democrats if President Trump wins in November..

“I am going to do everything morally acceptable to win. I will lie. I will cheat. I will steal. Because that’s morally acceptable in this political environment. Absolutely. We are pirates on a pirate ship,” said Jacks, who functions as trainer, mentor and on-the-ground quarterback at Our Revolution protests.

I want to make this point very loudly and very clearly. I said it nicely before, but I’ll say it more curtly now. 2020 is a political revolution,” he added.

If Trump wins the November election, “I’m gonna be in my garage, right next to my gun safe, all night long, on the 3rd, because that is how seriously I take this stuff,” said Jacks.

Jacks claims the left is “armed and ready to go” in the event of civil war, adding “there’s a reason you guys feared the Communists more than you feared the Nazis.”

Well, when it comes to civil war, violence type stuff there’s always military guys, like former guys that stand up for the right thing–when that time comes, then we gotta get some of those type people involved,” he said.

Apparently Jeff Bezos is the first guy he’d kill.

Kristopher Jacks: “If you want to do some Versailles shit. If you want to do some Antifa shit. You really want to change this country that way, with violence, there’s only one way to do it. You gotta get people that are close to billionaires and start just, random billionaires start turning up dead. And nobody knows what the f**ks going on. Nobody knows. Nope, I don’t know. They just turned up dead. And just three or four of ‘em is all it’s going to take. All it’s going to take is a pattern of I don’t know, I don’t know man. I don’t know what happened. Just showed up that way. I walked in. That’s how it was. That’s the only way that’s, you do that to three or four people enough to say that this is a pattern, and this is why – draw a dollar sign on their desk or whatever you do, that’s what it’s going to take. It’s going to take a strategic hit against the .1% that’s in charge, cause that’s who it is. Killing random Nazis in the street, random f**king bootlickers.”

Journalist: “But like who are those like three or four billionaires right now that if it went to that?”

Jacks: “Doesn’t matter.”

Journalist: “Doesn’t matter who.”

Jacks: “Doesn’t matter who… I mean Bezos at the top of the list.”

Journalist: “Who?”

Jacks: “Bezos.”

Read more of the conversation below (via PV):

Kristopher Jacks: “I think the right wing has a monopoly right now on strong, violent rhetoric, and I think they underestimate how many people on the left are organized, trained, armed, and ready to go should they decide to do their sh*t. And I think all it will take is our numbers and a reminder that yeah, there’s a reason you guys feared the Communists more than you feared the Nazis.

Journalist: “So, you think the right wing—”

Jacks: “They’re a bunch of b*tches. They’re b*tch *ss bootlickers, man.”

Journalist: “Who’s the people on the left though?”

Jacks: “Doesn’t matter. We have the army already. We’re gonna show up in numbers. We’re gonna show up in mass.

“We have Jacks on tape saying: ‘I will knock people down the stairs as long as they don’t die to make this happen’ and ‘When I look at everything, I mean again, I believe there is absolutely justified violence in all sorts of circumstances,’” O’Keefe said.

Journalist: “What do you think about like Antifa?”

Jacks:Antifa’s great, man. I think it’s uh, Charlottesville dude. When you got people marching in the street, running people over and sh*t like that, you got people firing guns, trying to provoke sh*t, yeah even people there that are willing to stand between them and ordinary people.”

Journalist: “Yeah, I like that hit-the-streets-type mentality, you know.

Jacks: “Yeah, no and there’s definitely, there are definitely times for it, I just don’t think it’s uh, I mean it’s–that awesome thing that’s, one of those cards you have to have in your back pocket, man. Martin Luther King wouldn’t have been as successful if it wasn’t for Malcolm X and Nation of Islam, Black Panthers, all of them doing their thing too.”

* * *

Jacks: “But they ain’t stabbing mother f**kers like they used to. They don’t have to though cause they used to stab people. See? And that’s all we gotta say. Guillotines motherf**ker. That’s all we gotta say. Option A, what I’m proposing. Option two, slicey bois. What are your choices? Which one do you want?”

Journalist: “What do you mean? Guillotines?”

Jacks:Unions have power because they used to stab mother f**kers, they used to bury people beneath Giants Stadium. We have power. Populist uprisings have power because we used to kill people. We used to hang people from gas stations. We used to cut off their heads. We don’t have to actually cut heads. We just have to say that we’re willing to cut off heads. You know what I’m saying? Nobody wants a slicey boi. Nobody wants one of those.”

Jacks also condemned moderate Democrats, which he says is ‘half his struggle.’

“It’s with f**kin moderates in the Democratic Party with all these people that are just scared of Trump. ‘Oh my God. I’m so scared. I got to do something,’ which is show up and piss off leftists.”

Plan to control Biden

According to Jacks, if Joe Biden wins the election, he knows the former VP will adopt the radical left’s agenda.

“As long as there’s progressive legislation that comes across his desk, I am confident we can occupy his house. We know where he’ll live, and yeah, he wants to veto Medicare For All. Let him veto it! He’s never leaving that house again without protest.”

Watch the full video below:

Jacks deleted his Twitter account following the Project Veritas release.

He has also been suspended from his job at CenturyLink pending the results of an investigation.

via ZeroHedge News https://ift.tt/33UvDDq Tyler Durden

Welcome to the New World Civilization

topicshistory

Something extraordinary happened over the last few decades. For the first time in human history, a single global civilization emerged.

“We are witnessing a cultural shift of world-historic proportions,” I wrote in an essay for Reason‘s 20th anniversary. “East and West are fusing in the most momentous combination of powerful civilizations since Hellenism collided with the Middle East—leaving Christianity in its wake.”

It was 1988, the last full year of Ronald Reagan’s presidency and, we did not yet realize, of the Berlin Wall. The Soviet Union still existed. The internet as we know it—the World Wide Web, with its hyperlinks and browsers—did not. China was liberalizing but still awaited the economic reforms that would transform it into a global powerhouse and allow it to gain entry into the World Trade Organization.

Unanticipated in my Reason essay, the end of the Cold War, the rise of the internet, and China’s increased openness secured its most sweeping and accurate prediction: “Western civilization is disappearing, or, more accurately, being folded into a new world civilization.” The change wasn’t a loss but a gain.

Its fruits show up in everything from scientific articles written in English for a global audience to the worldwide spread of hip-hop and K-pop, emojis and Disney, yoga and meditation. You can buy its nonmetaphorical fruits in your supermarket. Americans didn’t eat mangos, spicy tuna rolls, or sriracha sauce when I was growing up. And you didn’t find Colonel Sanders serving southern fried chicken in Hangzhou.

We barely realize what has happened, settling for the less-than-precise term globalization. But you can have global trade or conquest or diplomatic relations without forging a global civilization. In her recent book The Year 1000, historian Valerie Hansen argues that globalization started around 1000 A.D. You could date it from the European discovery of the Americas. It certainly began long before the 1990s. World civilization is something more consequential—and entirely new.

The term civilization is slippery and often fraught with moralism: “civilization vs. barbarism,” “uncivilized behavior.” What I’m talking about is something more neutral yet absolutely essential. In his 1934 tome Judaism as a Civilization, Mordecai Kaplan offered a good definition: “the accumulation of knowledge, skills, tools, arts, literatures, laws, religions and philosophies which stands between man and external nature, and which serves as a bulwark against the hostility of forces that would otherwise destroy him.”

Kaplan’s description captures two critical dimensions that together distinguish civilization from related concepts, such as culture.

First, civilization is cumulative. It exists in time, with today’s version built on previous ones. A civilization ceases to exist when that continuity is broken. The Minoan, Sogdian, and Incan civilizations disappeared. Conversely, a civilization may evolve over a long stretch of history while the cultures that make it up pass away or change irrevocably. The Western Europe of 1980 was radically different in its social mores, religious practices, material culture, political organization, technological resources, and scientific understanding from the Christendom of 1480, yet we recognize both as Western civilization. Mao’s Communism did not eradicate Chinese civilization, although it sometimes tried.

Second, civilization is a survival technology. It comprises the many artifacts—designed and evolved, tangible and intangible—that stand between vulnerable human beings and natural threats, and that invest the world with meaning. These artifacts range from textiles to tractors, accounting systems to surgical procedures. They encompass rituals and fashions, libraries and universities, housing designs and manufacturing practices. They include the stories we tell about ourselves and the media with which we tell them.

Along with the perils and discomforts of indifferent nature, civilization protects us from the dangers posed by other humans. Ideally, it allows us to live in harmony. Eighteenth-century thinkers used the term to refer to the intellectual and artistic refinement, sociability, and peaceful interactions of the commercial city. Their concept of civilization was a liberal ideal. But rare is the civilization that exists without organized violence. At best, a civilization encourages cooperation, curbing humanity’s violent urges; at worst, it unleashes them to conquer, pillage, and enslave.

A civilization often incorporates multiple cultures, nations, and states, all contributing to its shared heritage and at times jockeying for dominance. Europe’s religious wars took place within the same civilization. Chinese civilization includes the Warring States period. Regimes may come and go while the civilization endures. One century’s leading power may not be the previous century’s or the next’s. But even as specific states or regions rise and fade in prominence, their inhabitants continue to enjoy the benefits of their civilization’s cumulative experience and knowledge.

What distinguishes a global civilization from mere globalization—or from the lopsided exchanges of conquest and colonialism—is the depth and range of resources an individual inhabitant can partake in. A civilization is a communal project, constructed mostly without direction or plan. The more people who contribute, the stronger it can be. The fewer formal barriers to shared knowledge and experiences, the more resilient and cohesive the results.

A mere generation old, our global civilization is now endangered. COVID-19 has demonstrated its value, as scientists worldwide collaborate and share data. But the pandemic has also broken previous bonds. International students are stranded in their home countries, unable to return to school. Supply chains are broken. Would-be tourists are settling for staycations.

Business travel has plummeted, and video chat can only go so far in establishing trust and sharing tacit knowledge—the hard-to-articulate know-how that requires imitation and feedback. In an August article published in Nature Human Behavior, Michele Coscia, Frank M.H. Neffke, and Ricardo Hausmann analyze corporate credit card data to track international business travel as a source of economic improvements. It is, they find, more important than trade, foreign direct investment, or migration. A complete shutdown, they estimate, would shrink global output by 17 percent.

The reason, explains Hausmann in a Project Syndicate essay, is know-how. “To run a firm, you need not only information, but also the capacity to figure things out,” he writes, noting that “one of the advantages of multinational corporations and global consulting, accounting, and law firms is that they can move that capacity to different points in their network.” They do that by putting people on planes.

As if the pandemic weren’t enough of a threat, Chinese President Xi Jinping is increasingly hostile to the outside world—and U.S. politicians are increasingly hostile not merely to the Chinese government but to its citizens. At a private dinner for CEOs in 2018, President Donald Trump reportedly suggested that most Chinese students in the U.S.—more than 350,000 in 2019—are spies. The Politico report’s source may have exaggerated Trump’s statement, but the suspicion is widespread, particularly on the right.

In May, Republican Sens. Tom Cotton of Arkansas and Marsha Blackburn of Tennessee introduced a bill to ban all U.S. visas for Chinese nationals seeking graduate or postgraduate study in technical fields. The draconian proposal assumes that knowledge is a fixed quantity that American professors pour into Chinese heads, allowing these foreign plants to abscond with it. But graduate students also create knowledge, many of them stay here after getting their degrees, and even those who return home continue to collaborate across borders. They contribute to our shared civilization.

The Trump administration’s drive to ban WeChat similarly threatens to sever international bonds. People in China rely on the multifunctional app to communicate, make purchases, and generally manage their lives. Friends, relatives, business contacts, and tourist destinations abroad use it to keep in touch with them. About 19 million U.S. residents use it every day. Although not free of Chinese government control, it is an essential form of international communication. China itself has banned most other forms, including Facebook and WhatsApp. Chinese people tend not to check their email, observes Technology Review‘s Karen Hao, and “emails often mysteriously disappear while transmitting across borders.”

A U.S. ban on WeChat, writes Hao, the daughter of a Chinese immigrant, “would be the weakening or severing of hundreds of millions, maybe billions, of connections—a loss undeniable albeit difficult to quantify.” Bloomberg Opinion‘s Adam Minter fears the effect on tourism, which has brought individuals in the two countries closer even as their governments fought. Restricting WeChat, he writes, “isn’t the only reason, but it is another blunt reminder to Chinese people that they’re not as welcome in the U.S. as they used to be.” And China’s increasingly repressive policies discourage Americans, myself among them, from returning to visit that country.

Of course, neither the U.S. nor China is the only potential source of common experiences and valuable ideas. Their people aren’t the only ones contributing to global civilization—or aspiring to influence its direction. The more those two nations seek to isolate themselves, the more they risk fading in prominence. The ties of civilization often prove stronger than the divisions between individual nations.

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Odds Of ‘No Deal’ Brexit Plunge As Boris Johnson Signals He Won’t Walk Away From Talks With EU

Odds Of ‘No Deal’ Brexit Plunge As Boris Johnson Signals He Won’t Walk Away From Talks With EU

Tyler Durden

Wed, 10/14/2020 – 06:31

With one day left until the beginning of a pan-European summit marketed as the final chance for EU leaders to sign off on a UK-EU trade agreement, UK Prime Minister Boris Johnson has signaled on Wednesday morning that his government will not walk away from the table, as it had threatened to do, prompting analysts to dramatically lower their odds for ‘no deal’.

BoJo had previously set Oct. 15, the beginning of a critical EU summit, as a soft deadline for talks.

No trade deal “is still possible, but probably would come more as an ‘accident’ at this stage than by intent,” says strategist Ned Rumpeltin. Odds down from around 40% before. “Sterling should naturally benefit as the final uncertainties are lifted,” he told Bloomberg.

The pound will remain vulnerable to trade negotiations, but the odds of a no deal have fallen to around 20%-25% and the currency should finish the year at $1.35, according to Toronto-Dominion Bank.

As is often the case in currency markets, if anxieties about ‘no deal’ continue to ease, traders may simply turn their attention to another even more troublesome issue: The second wave of COVID-19 cases that is battering Europe – with the UK again emerging as one of the worst-hit countries – which forced BoJo to concede on Wednesday that a “circuit breaker” two-week lockdown might be inevitable if the latest social distancing restrictions enacted by the British government fail to arrest the virus.

Roughly an hour after the first headlines about Johnson’s latest change of heart hit, Reuters reported that EU leaders meeting in Brussels on Thursday and Friday to discuss Brexit believe that progress in talks with Britain is “still not sufficient” to seal a new trade deal. The heads of the 27 EU members are also expected to agree to ramp up contingency planning, while also authorizing lead Brexit negotiator Michel Barnier to intensify talks to try and get a deal by Dec. 31, when the transition period expires.

“It is in the interests of both sides to have an agreement in place before the end of the transition period,” EU summit chairman Charles Michel said in a invitation letter to leaders. “This cannot, however, happen at any price. The coming days are decisive. Key issues include, in particular, the level playing field, fisheries and governance,” he said.

The deal sticking points remain largely unchanged: fair competition, fishing rights and dispute settlement procedures. And there’s still the issue of BoJo’s ‘Intermarket Bill’.

via ZeroHedge News https://ift.tt/2IuDPC4 Tyler Durden

European Oil Companies Will Not Tolerate Poland’s Attempt To Cancel Nord Stream 2

European Oil Companies Will Not Tolerate Poland’s Attempt To Cancel Nord Stream 2

Tyler Durden

Wed, 10/14/2020 – 06:10

Authored by Paul Antonopoulos via InfoBrics.org,

By handing out a €6.5 billion fine against Gazprom, Warsaw has obviously and massively miscalculated because it did not only antagonize the Russian energy company as was intended, but also European partners of the Nord Stream 2 pipeline project, which the Polish government obviously had not considered.

Even leaders within the European Union were shocked at the huge fine that Poland is attempting to impose against Nord Stream 2.

It may very well be that the Polish Office of Competition and Consumer Protection (UOKiK) has lost itself when deciding on the price of the fine against Gazprom. But regardless of that, UOKiK has apparently also exceeded its jurisdiction. As the Düsseldorf-based energy supplier Uniper reports, the existing agreements on Nord Stream 2 have nothing to do with a joint venture, which is why the Polish laws on merger controls do not apply to them. The initial plans were to finance the construction of the Nord Stream 2 pipeline through the establishment of a joint venture. For this, however, the companies involved should have received a permit in all the countries in which they operate, as well as from Poland, the only EU state that blocked this decision. The decision for it not to be a joint venture was made without further ado so as not to waste time or money in a dispute with Polish authorities. 

The pipeline partners designed an alternative financing model for Nord Stream 2 and instead of joining Nord Stream 2 AG (Company) as a co-partner, the European energy companies are participating in the project as lenders so that Polish antitrust laws do not apply to them. However, Gazprom, the majority shareholder of Nord Stream 2 AG, has given its European partners shares in the company as a mortgage for the financing provided. If the loans from the Russian side are not paid, the European corporations automatically become the owners of Nord Stream 2 AG. Referring to this fact, the Polish antitrust authorities have declared the European partner companies to be quasi-shareholders in the pipeline project. 

With this UOKiK also justifies the exorbitant fine against Gazprom and the fines of around €55 million against Uniper (German), Wintershall (German), Engie (French), OMV (Austrian) and Shell (English-Dutch). Neither Gazprom nor Nord Stream 2 are financially at risk at the moment and the Russian group has already announced that it will take the fine to court. 

Poland is of course now aware that their attempts to fine the Nord Stream 2 project will amount to nothing. The aim of the Polish government is not so much to force a large sum of money from Gazprom in the long term, but rather to bury the pipeline project entirely. And this is the part where Warsaw has grossly miscalculated, not only European reactions, but Russian determination.

The goal to cancel Nord Stream 2 also explains why Polish authorities published their decision last week. Relations between the EU and Russia are extra strained because of the Navalny case and the situation in Belarus. France and Germany are working on new sanctions against Russia for the Navalny case and continue to apply pressure against Belarus.

Another question is how effective these measures will be. Sanctions have long degenerated into ambiguity as it is the usual way the West deals with Moscow. Russia has learnt how to adjust their economy accordingly, meaning that sanctions have turned into a farce. The West is regularly expanding its blacklists of sanctioned companies and private individuals, but there has been no significant effect. Political forces with a keen interest in the failure of Nord Stream 2 are plentiful in the West and they are currently advancing the Navalny case in the hope that it will cut the EU from Russia more strongly or permanently. This will not occur as Europe desperately needs Russian energy, which is why Nord Stream 2 is such a critical project for all involved.

Poland plays the main role in trying to cancel Nord Stream 2 and the decision by UOKiK is just another push to finally get Europe to abandon the pipeline project. According to a joint declaration by France and Germany, measures are currently being prepared for those alleged to be responsible in the Navalny case and their participation in the so-called Novichok program. 

Despite these measures, Western Europe is bringing its energy project which is important for its own future out of the danger zone, while Poland is attracting even more displeasure from EU giants through its own operation. A penalty against Gazprom may be a Russian problem, but fines against leading corporations from Germany, France, the Netherlands, Great Britain and Austria are guaranteed to leave many of Europe’s biggest capitalist angered. The effort Warsaw is making to thwart Nord Stream 2 is visibly turning opposite to what they expected as there is little doubt the Nord Stream 2 project will come to fruition and completion.

via ZeroHedge News https://ift.tt/2ItU5Dn Tyler Durden

Welcome to the New World Civilization

topicshistory

Something extraordinary happened over the last few decades. For the first time in human history, a single global civilization emerged.

“We are witnessing a cultural shift of world-historic proportions,” I wrote in an essay for Reason‘s 20th anniversary. “East and West are fusing in the most momentous combination of powerful civilizations since Hellenism collided with the Middle East—leaving Christianity in its wake.”

It was 1988, the last full year of Ronald Reagan’s presidency and, we did not yet realize, of the Berlin Wall. The Soviet Union still existed. The internet as we know it—the World Wide Web, with its hyperlinks and browsers—did not. China was liberalizing but still awaited the economic reforms that would transform it into a global powerhouse and allow it to gain entry into the World Trade Organization.

Unanticipated in my Reason essay, the end of the Cold War, the rise of the internet, and China’s increased openness secured its most sweeping and accurate prediction: “Western civilization is disappearing, or, more accurately, being folded into a new world civilization.” The change wasn’t a loss but a gain.

Its fruits show up in everything from scientific articles written in English for a global audience to the worldwide spread of hip-hop and K-pop, emojis and Disney, yoga and meditation. You can buy its nonmetaphorical fruits in your supermarket. Americans didn’t eat mangos, spicy tuna rolls, or sriracha sauce when I was growing up. And you didn’t find Colonel Sanders serving southern fried chicken in Hangzhou.

We barely realize what has happened, settling for the less-than-precise term globalization. But you can have global trade or conquest or diplomatic relations without forging a global civilization. In her recent book The Year 1000, historian Valerie Hansen argues that globalization started around 1000 A.D. You could date it from the European discovery of the Americas. It certainly began long before the 1990s. World civilization is something more consequential—and entirely new.

The term civilization is slippery and often fraught with moralism: “civilization vs. barbarism,” “uncivilized behavior.” What I’m talking about is something more neutral yet absolutely essential. In his 1934 tome Judaism as a Civilization, Mordecai Kaplan offered a good definition: “the accumulation of knowledge, skills, tools, arts, literatures, laws, religions and philosophies which stands between man and external nature, and which serves as a bulwark against the hostility of forces that would otherwise destroy him.”

Kaplan’s description captures two critical dimensions that together distinguish civilization from related concepts, such as culture.

First, civilization is cumulative. It exists in time, with today’s version built on previous ones. A civilization ceases to exist when that continuity is broken. The Minoan, Sogdian, and Incan civilizations disappeared. Conversely, a civilization may evolve over a long stretch of history while the cultures that make it up pass away or change irrevocably. The Western Europe of 1980 was radically different in its social mores, religious practices, material culture, political organization, technological resources, and scientific understanding from the Christendom of 1480, yet we recognize both as Western civilization. Mao’s Communism did not eradicate Chinese civilization, although it sometimes tried.

Second, civilization is a survival technology. It comprises the many artifacts—designed and evolved, tangible and intangible—that stand between vulnerable human beings and natural threats, and that invest the world with meaning. These artifacts range from textiles to tractors, accounting systems to surgical procedures. They encompass rituals and fashions, libraries and universities, housing designs and manufacturing practices. They include the stories we tell about ourselves and the media with which we tell them.

Along with the perils and discomforts of indifferent nature, civilization protects us from the dangers posed by other humans. Ideally, it allows us to live in harmony. Eighteenth-century thinkers used the term to refer to the intellectual and artistic refinement, sociability, and peaceful interactions of the commercial city. Their concept of civilization was a liberal ideal. But rare is the civilization that exists without organized violence. At best, a civilization encourages cooperation, curbing humanity’s violent urges; at worst, it unleashes them to conquer, pillage, and enslave.

A civilization often incorporates multiple cultures, nations, and states, all contributing to its shared heritage and at times jockeying for dominance. Europe’s religious wars took place within the same civilization. Chinese civilization includes the Warring States period. Regimes may come and go while the civilization endures. One century’s leading power may not be the previous century’s or the next’s. But even as specific states or regions rise and fade in prominence, their inhabitants continue to enjoy the benefits of their civilization’s cumulative experience and knowledge.

What distinguishes a global civilization from mere globalization—or from the lopsided exchanges of conquest and colonialism—is the depth and range of resources an individual inhabitant can partake in. A civilization is a communal project, constructed mostly without direction or plan. The more people who contribute, the stronger it can be. The fewer formal barriers to shared knowledge and experiences, the more resilient and cohesive the results.

A mere generation old, our global civilization is now endangered. COVID-19 has demonstrated its value, as scientists worldwide collaborate and share data. But the pandemic has also broken previous bonds. International students are stranded in their home countries, unable to return to school. Supply chains are broken. Would-be tourists are settling for staycations.

Business travel has plummeted, and video chat can only go so far in establishing trust and sharing tacit knowledge—the hard-to-articulate know-how that requires imitation and feedback. In an August article published in Nature Human Behavior, Michele Coscia, Frank M.H. Neffke, and Ricardo Hausmann analyze corporate credit card data to track international business travel as a source of economic improvements. It is, they find, more important than trade, foreign direct investment, or migration. A complete shutdown, they estimate, would shrink global output by 17 percent.

The reason, explains Hausmann in a Project Syndicate essay, is know-how. “To run a firm, you need not only information, but also the capacity to figure things out,” he writes, noting that “one of the advantages of multinational corporations and global consulting, accounting, and law firms is that they can move that capacity to different points in their network.” They do that by putting people on planes.

As if the pandemic weren’t enough of a threat, Chinese President Xi Jinping is increasingly hostile to the outside world—and U.S. politicians are increasingly hostile not merely to the Chinese government but to its citizens. At a private dinner for CEOs in 2018, President Donald Trump reportedly suggested that most Chinese students in the U.S.—more than 350,000 in 2019—are spies. The Politico report’s source may have exaggerated Trump’s statement, but the suspicion is widespread, particularly on the right.

In May, Republican Sens. Tom Cotton of Arkansas and Marsha Blackburn of Tennessee introduced a bill to ban all U.S. visas for Chinese nationals seeking graduate or postgraduate study in technical fields. The draconian proposal assumes that knowledge is a fixed quantity that American professors pour into Chinese heads, allowing these foreign plants to abscond with it. But graduate students also create knowledge, many of them stay here after getting their degrees, and even those who return home continue to collaborate across borders. They contribute to our shared civilization.

The Trump administration’s drive to ban WeChat similarly threatens to sever international bonds. People in China rely on the multifunctional app to communicate, make purchases, and generally manage their lives. Friends, relatives, business contacts, and tourist destinations abroad use it to keep in touch with them. About 19 million U.S. residents use it every day. Although not free of Chinese government control, it is an essential form of international communication. China itself has banned most other forms, including Facebook and WhatsApp. Chinese people tend not to check their email, observes Technology Review‘s Karen Hao, and “emails often mysteriously disappear while transmitting across borders.”

A U.S. ban on WeChat, writes Hao, the daughter of a Chinese immigrant, “would be the weakening or severing of hundreds of millions, maybe billions, of connections—a loss undeniable albeit difficult to quantify.” Bloomberg Opinion‘s Adam Minter fears the effect on tourism, which has brought individuals in the two countries closer even as their governments fought. Restricting WeChat, he writes, “isn’t the only reason, but it is another blunt reminder to Chinese people that they’re not as welcome in the U.S. as they used to be.” And China’s increasingly repressive policies discourage Americans, myself among them, from returning to visit that country.

Of course, neither the U.S. nor China is the only potential source of common experiences and valuable ideas. Their people aren’t the only ones contributing to global civilization—or aspiring to influence its direction. The more those two nations seek to isolate themselves, the more they risk fading in prominence. The ties of civilization often prove stronger than the divisions between individual nations.

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World Bank Has Resorted To Shaming G-20 Countries And Hedge Funds For Lending Poor Nations Money

World Bank Has Resorted To Shaming G-20 Countries And Hedge Funds For Lending Poor Nations Money

Tyler Durden

Wed, 10/14/2020 – 05:35

Apparently realizing the world’s inability to inflate away what has become a growing global debt problem, the World Bank has now instead turned to the idea of shaming the countries that hold the debt into offering “relief”.

World Bank President David Malpass said this week that The Group of 20 Nations should be offering debt relief to the poorest nations in the world “through the end of next year”, according to Bloomberg. Malpass also suggested that both “hedge funds” and “China” play a role in the efforts. 

The G-20’s “Debt Service Suspension Initiative” that it implemented in May is providing only “shallow relief” for such nations because of a lack of participation by China and private creditors, Malpass said. 

He told Bloomberg TV on Monday:

“We need to do much more. The commercial creditors were supposed to join that initiative as well, that means banks and hedge funds, for example. Unfortunately, they didn’t, and even the bilateral official creditors didn’t fully participate, so the savings for these countries, we’re talking about the poorest countries in the world, they’re still paying their debts in some cases, and so that I think should be broadened.”

Yeah David – just because countries take on debt doesn’t mean they should be obligated to repay it. And just because someone lends money doesn’t mean they’re entitled to be repaid, right?

Malpass’ take on the situation came during the World Bank and the IMF’s annual meetings, being held this week, in virtual format due to the pandemic. The world’s growing global debt problem will be a “key theme” at the gathering, Bloomberg notes.

Meanwhile, now that the idea of lending and borrowing has been dismantled, it’s probably just time to start getting used to the words debt jubilee. 

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