<html><head><meta http-equiv="Content-Type" content="text/html charset=windows-1252"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;">Appalling...<div><br></div><div><br><div><div>On Dec 18, 2014, at 7:34 PM, Stuart Levy via Peace-discuss <<a href="mailto:peace-discuss@lists.chambana.net">peace-discuss@lists.chambana.net</a>> wrote:</div><br class="Apple-interchange-newline"><blockquote type="cite">
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My guess is that it's a matter of political positioning. Doesn't
it make sense to see the opening to Cuba, like the liberalization of
immigration policy, as an offering to disgruntled progressives - or
even more, to the Latino population? At this point he faces two
years of fairly-to-extremely-hostile Congress. It's to his
advantage if Democrats can be portrayed as wanting to do good
things, but being stymied by the Republicans. So here he is doing
some highly visible good things while he has the chance. They'll
stop happening when the new Congress comes in, and the word will be,
Just elect the Dems next time and things will get better.<br>
<br>
<br>
(It remains a question as to how disgruntled the Democratic-leaning
fraction of the US actually is. I got a fundraising call for ACLU
recently. As a side conversation, the caller was enthusiastic
about 2016, since Hilary Clinton could become the next president.
Really, would that be a good thing for civil liberties? Well, if I
didn't approve of her, he suggested, how about Joe Biden? It was a
pretty depressing call.)<br>
<br>
Stuart<br>
<br>
<br>
<div class="moz-cite-prefix">On 12/18/14 12:46 PM, C. G. Estabrook
via Peace-discuss wrote:<br>
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<blockquote cite="mid:2220C643-5ABE-4A63-A169-29EA0EEBFAC2@newsfromneptune.com" type="cite">
I don't see this as a motive in Obama's move towards regularizing
relations with Cuba. <br>
<br>
It's true that the US is attempting to gain/retain economic
control over Eurasia by provoking Russia - even to the point of
war in Europe. <br>
<br>
But Cuba is not a military threat to the US - it's much more an
ideological threat, the "threat of a good example.'<br>
<br>
But I admit it's difficult to explain Obama's actions. Perhaps a
bad conscience form the kids he's killed... <br>
<br>
--CGE<br>
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<div>On Dec 18, 2014, at 7:08 AM, 'David Johnson' <a moz-do-not-send="true" href="mailto:davidjohnson1451@comcast.net">davidjohnson1451@comcast.net</a>
[sf-core] <<a moz-do-not-send="true" href="mailto:sf-core-noreply@yahoogroups.com">sf-core-noreply@yahoogroups.com</a>>
wrote:</div>
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<div class="WordSection1" style="line-height: 1.22em;"><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 14pt; font-family: 'Times New
Roman', serif;">In conjunction with this
development is the sudden announced ending of
the embargo against Cuba.<o style="font-size:
0px; line-height: 1.22em;"></o></span></b></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 14pt; font-family: 'Times New
Roman', serif;">It makes sense if you look at
what it appears their new priorities are in
regards to encircling Russia and destabilizing
Putin. The U.S. elites don’t want a Russian
ally so close to the U.S.<o style="font-size:
0px; line-height: 1.22em;"></o></span></b></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 24pt; font-family: 'Times New
Roman', serif;"><o style="font-size: 0px;
line-height: 1.22em;"> </o></span></b></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 24pt; font-family: 'Times New
Roman', serif;"><o style="font-size: 0px;
line-height: 1.22em;"> </o></span></b></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 24pt; font-family: 'Times New
Roman', serif;">US Risks Economic Crash In Oil
War With Russia<o style="font-size: 0px;
line-height: 1.22em;"></o></span></b></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 12pt; font-family: 'Times New
Roman', serif;"><image001.jpg></span><span style="line-height: 1.22em; font-size: 12pt;
font-family: 'Times New Roman', serif;"><o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 12pt; font-family: 'Times New
Roman', serif;"><a moz-do-not-send="true" href="https://www.popularresistance.org/category/educate/" title="View all posts in Educate!" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">Educate!</span></a><span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="https://www.popularresistance.org/tag/economy/" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">Finance and the Economy</span></a>,<span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="https://www.popularresistance.org/tag/oil-gas/" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">Oil & Gas</span></a>,<span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="https://www.popularresistance.org/tag/russia/" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">Russia</span></a>,<span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="https://www.popularresistance.org/tag/syria/" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">Syria</span></a>,<span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="https://www.popularresistance.org/tag/usa/" style="line-height: 1.22em; font-family:
Verdana;"><span style="line-height: 1.22em;
color: blue;">usa</span></a><span class="Apple-converted-space"> </span><br style="line-height: 1.22em;">
By Mike Whitney,<span class="Apple-converted-space"> </span><a moz-do-not-send="true" href="http://www.counterpunch.org/2014/12/16/the-oil-coup/" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: blue;">www.counterpunch.org</span></a><br style="line-height: 1.22em;">
December 17th, 2014<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 12pt; font-family: 'Times New
Roman', serif;"> <o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">“John Kerry, the US Secretary of
State, allegedly struck a deal with King
Abdullah in September under which the Saudis
would sell crude at below the prevailing market
price. That would help explain why the price has
been falling at a time when, given the turmoil
in Iraq and Syria caused by Islamic State, it
would normally have been rising.” (<a moz-do-not-send="true" href="http://www.theguardian.com/business/economics-blog/2014/nov/09/us-iran-russia-oil-prices-shale" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: rgb(207,
16, 40);">Stakes are high as US plays the
oil card against Iran and Russia</span></a>,
Larry Eliot, Guardian)<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">U.S. powerbrokers have put the
country at risk of another financial crisis to
intensify their economic war on Moscow and to
move ahead with their plan to “pivot to Asia”.<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">Here’s what’s happening:
Washington has persuaded the Saudis to flood the
market with oil to push down prices, decimate
Russia’s economy, and reduce Moscow’s resistance
to further NATO encirclement and the spreading
of US military bases across Central Asia. The
US-Saudi scheme has slashed oil prices by nearly
a half since they hit their peak in June. The
sharp decline in prices has burst the bubble in
high-yield debt which has increased the
turbulence in the credit markets while pushing
global equities into a tailspin. Even so, the
roiled markets and spreading contagion have not
deterred Washington from pursuing its reckless
plan, a plan which uses Riyadh’s stooge-regime
to prosecute Washington’s global resource war.
Here’s a brief summary from an article by F.
William Engdahl titled “The Secret Stupid
Saudi-US Deal on Syria”:<o style="font-size:
0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">“The details are emerging of a
new secret and quite stupid Saudi-US deal on
Syria and the so-called IS. It involves oil and
gas control of the entire region and the
weakening of Russia and Iran by Saudi Arabian
flooding the world market with cheap oil.
Details were concluded in the September meeting
by US Secretary of State John Kerry and the
Saudi King…<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">..the kingdom of Saudi Arabia,
has been flooding the market with deep
discounted oil, triggering a price war within
OPEC… The Saudis are targeting sales to Asia for
the discounts and in particular, its major Asian
customer, China where it is reportedly offering
its crude for a mere $50 to $60 a barrel rather
than the earlier price of around $100. That
Saudi financial discounting operation in turn is
by all appearance being coordinated with a US
Treasury financial warfare operation, via its
Office of Terrorism and Financial Intelligence,
in cooperation with a handful of inside players
on Wall Street who control oil derivatives
trading. The result is a market panic that is
gaining momentum daily. China is quite happy to
buy the cheap oil, but her close allies, Russia
and Iran, are being hit severely…<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">According to Rashid Abanmy,
President of the Riyadh-based Saudi Arabia Oil
Policies and Strategic Expectations Center, the
dramatic price collapse is being deliberately
caused by the Saudis, OPEC’s largest producer.
The public reason claimed is to gain new markets
in a global market of weakening oil demand. The
real reason, according to Abanmy, is to put
pressure on Iran on her nuclear program, and on
Russia to end her support for Bashar al-Assad in
Syria….More than 50% of Russian state revenue
comes from its export sales of oil and gas. The
US-Saudi oil price manipulation is aimed at
destabilizing several strong opponents of US
globalist policies. Targets include Iran and
Syria, both allies of Russia in opposing a US
sole Superpower. The principal target, however,
is Putin’s Russia, the single greatest threat
today to that Superpower hegemony. (<a moz-do-not-send="true" href="http://www.boilingfrogspost.com/2014/10/24/the-secret-stupid-saudi-us-deal-on-syria/" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: rgb(207,
16, 40);">The Secret Stupid Saudi-US Deal on
Syria</span></a>, F. William Engdahl, BFP)<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The US must achieve its
objectives in Central Asia or forfeit its
top-spot as the world’s only superpower. This is
why US policymakers have embarked on such a
risky venture. There’s simply no other way to
sustain the status quo which allows the US to
impose its own coercive dollar system on the
world, a system in which the US exchanges paper
currency produced-at-will by the Central Bank
for valuable raw materials, manufactured
products and hard labor. Washington is prepared
to defend this extortionist petrodollar
recycling system to the end, even if it means
nuclear war.<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><b style="line-height:
1.22em;"><span style="line-height: 1.22em;
font-size: 18pt; font-family: 'Times New
Roman', serif;">How Flooding the Market Adds
to Instability</span></b><span style="line-height: 1.22em; font-size: 18pt;
font-family: 'Times New Roman', serif;"><o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The destructive and
destabilizing knock-on effects of this lunatic
plan are visible everywhere. Plummeting oil
prices are making it harder for energy companies
to get the funding they need to roll over their
debt or maintain current operations. Companies
borrow based on the size of their reserves, but
when prices tumble by nearly 50 percent–as they
have in the last six months– the value of those
reserves falls sharply which cuts off access to
the market leaving CEO’s with the dismal
prospect of either selling assets at firesale
prices or facing default. If the problem could
be contained within the sector, there’d be no
reason for concern. But what worries Wall Street
is that a surge in energy company failures could
ripple through the financial system and wallop
the banks. Despite six years of zero rates and
monetary easing, the nation’s biggest banks are
still perilously undercapitalized, which means
that a wave of unexpected bankruptcies could be
all it takes to collapse the weaker institutions
and tip the system back into crisis. Here’s an
excerpt from a post at Automatic Earth titled
“Will Oil Kill the Zombies?”:<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">“If prices fall any further, it
would seem that most of the entire shale edifice
must of necessity crumble to the ground. And
that will cause an absolute earthquake in the
financial world, because someone supplied the
loans the whole thing leans on. An enormous
amount of investors have been chasing high
yield, including many institutional investors,
and they’re about to get burned something bad…..
if oil keeps going the way it has lately, the
Fed may instead have to think about bailing out
the big Wall Street banks once again.” (<a moz-do-not-send="true" href="http://www.theautomaticearth.com/will-oil-kill-the-zombies/" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: rgb(207,
16, 40);">Will Oil Kill the Zombies?</span></a>,
Raúl Ilargi Meijer, Automatic Earth)<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The problem with falling oil
prices is not just mounting deflation or droopy
profits; it’s the fact that every part of the
industry–exploration, development and production
— is propped atop a mountain of red ink (junk
bonds). When that debt can no longer be serviced
or increased, then the primary lenders
(counterparties and financial institutions)
sustain heavy losses which domino through the
entire system. Take a look at this from
Marketwatch:<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">“There’s ‘no question’ that for
energy companies with a riskier debt profile the
high-yield debt market “is essentially shut down
at this stage,” and there are signs that further
pain could hit the sector, ” senior fixed-income
strategist at U.S. Bank Wealth Management, Dan
Heckman told Marketwatch. “We are getting to the
point that it is becoming very concerning.” (<a moz-do-not-send="true" href="http://www.marketwatch.com/story/junk-bond-contagion-fears-rise-as-oil-extends-drop-2014-12-11" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: rgb(207,
16, 40);">Marketwatch</span></a>)<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">When energy companies lose
access to the market and are unable to borrow at
low rates, it’s only a matter of time before
they trundle off to extinction.<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">On Friday, the International
Energy Agency (IEA) renewed pressure on prices
by lowering its estimate for global demand for
oil in 2015. The announcement immediately sent
stocks into a nosedive. The Dow Jones Industrial
Average (DJIA) lost 315 points by the end of the
day, while, according to Bloomberg, more than
“$1 trillion was erased from the value of global
equities in the week”.<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The world is awash in cheap
petroleum which is wreaking havoc on domestic
shale producers that need prices of roughly $70
per barrel to break-even. With West Texas
Intermediate (WTI) presently headed south of 60
bucks–and no bottom in sight–these smaller
producers are sure to get clobbered. Pension
funds, private equity, banks, and other
investors who gambled on these dodgy
energy-related junk bonds are going to get their
heads handed to them in the months ahead.<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The troubles in the oil patch
are mainly attributable to the Fed’s easy money
policies. By dropping rates to zero and flooding
the markets with liquidity, the Fed made it
possible for every Tom, Dick and Harry to borrow
in the bond market regardless of the quality of
the debt. No one figured that the bottom would
drop out leaving an entire sector high and dry.
Everyone thought the all-powerful Fed could
print its way out of any mess. After last week’s
bloodbath, however, they’re not nearly as
confident. Here’s how Bloomberg sums it up:<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">“The danger of stimulus-induced
bubbles is starting to play out in the market
for energy-company debt….Since early 2010,
energy producers have raised $550 billion of new
bonds and loans as the Federal Reserve held
borrowing costs near zero, according to Deutsche
Bank AG. With oil prices plunging, investors are
questioning the ability of some issuers to meet
their debt obligations…<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The Fed’s decision to keep
benchmark interest rates at record lows for six
years has encouraged investors to funnel cash
into speculative-grade securities to generate
returns, raising concern that risks were being
overlooked. A report from Moody’s Investors
Service this week found that investor
protections in corporate debt are at an all-time
low, while average yields on junk bonds were
recently lower than what investment-grade
companies were paying before the credit crisis.”
(<a moz-do-not-send="true" href="http://www.bloomberg.com/news/2014-12-11/fed-bubble-bursts-in-550-billion-of-energy-debt-credit-markets.html" target="_blank" style="line-height: 1.22em;
font-family: Verdana;"><span style="line-height: 1.22em; color: rgb(207,
16, 40);">Fed Bubble Bursts in $550 Billion
of Energy Debt: Credit Markets</span></a>,
Bloomberg)<o style="font-size: 0px; line-height:
1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The Fed’s role in this debacle
couldn’t be clearer. Investors piled into these
dodgy debt-instruments because they thought
Bernanke had their back and would intervene at
the first sign of trouble. Now that the bubble
has burst and the losses are piling up, the Fed
is nowhere to be seen.<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">In the last week, falling oil
prices have started to impact the credit markets
where investors are ditching debt on anything
that looks at all shaky. The signs of contagion
are already apparent and likely to get worse.
Investors fear that if they don’t hit the “sell”
button now, they won’t be able to find a buyer
later. In other words, liquidity is drying up
fast which is accelerating the rate of decline.
Naturally, this has affected US Treasuries which
are still seen as “risk free”. As investors
increasingly load up on USTs, long-term yields
have been pounded into the ground like a
tentpeg. As of Friday, the benchmark 10-year
Treasury checked in at a miniscule 2.08 percent,
the kind of reading one would expect in the
middle of a Depression.<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">The Saudi-led insurgency has
reversed the direction of the market, put global
stocks into a nosedive and triggered a panic in
the credit markets. And while the financial
system edges closer to a full-blown crisis every
day, policymakers in Washington have remained
resolutely silent on the issue, never uttering
as much as a peep of protest for a Saudi policy
that can only be described as a deliberate act
of financial terrorism.<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">Why is that? Why have Obama and
Co. kept their mouths shut while oil prices have
plunged, domestic industries have been
demolished, and stocks have gone off a cliff?
Could it be that they’re actually in cahoots
with the Saudis and that it’s all a big game
designed to annihilate enemies of the glorious
New World Order?<o style="font-size: 0px;
line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><span style="line-height:
1.22em; font-size: 18pt; font-family: 'Times New
Roman', serif;">It certainly looks that way.<o style="font-size: 0px; line-height: 1.22em;"></o></span></p><p class="MsoNormal" style="margin: 0px 0px 1em;
line-height: 1.22em;"><o style="font-size: 0px;
line-height: 1.22em;"> </o></p>
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