Home » Posts tagged 'washington post' (Page 3)

Tag Archives: washington post

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

The Guardian Faceplants As Manafort’s Passport Stamps Don’t Match “Fabricated” Assange Story

Further evidence that The Guardian “entirely fabricated” a report that former Trump campaign chairman Paul Manafort visited Julian Assange in 2013, 2015 and the spring of 2016; his passports…

The Washington Times reports that Manafort’s three passports reveal just two visits to England in 2010 and 2012, which support his categorical denial of the “totally false and deliberately libelous” report in The Guardian, which said that Manafort visited Assange in the Ecuadorian Embassy – ostensibly to coordinate on the WikiLeaks release of Hillary Clinton’s emails.

The Times does note that Manafort could have conceivably entered the UK from another European country and not received a stamp – however a representative for Manafort insisted to the Times that Manafort has only made those two visits to England since 2008, and that a libel suit against the Guardian is under discussion.

While two of Manafort’s passports were entered as evidence at his tax evasion trial – something that The Guardian‘s Luke Harding and Dan Collyns could have easily looked up – the Times has obtained a copy of his third passport which confirms the two visits.

His attorney explained the passports this way: One was lost, one was used to submit to foreign embassies for visas, and one was used as a backup. Manafort later found the third passport. –Washington Times

WikiLeaks immediately fired back at The Guardian – betting the paper “a million dollars and its editor’s head that Manafort never met Assange.” 


WikiLeaks
@wikileaks

Remember this day when the Guardian permitted a serial fabricator to totally destroy the paper’s reputation. @WikiLeaks is willing to bet the Guardian a million dollars and its editor’s head that Manafort never met Assange. https://archive.fo/pUjrj 

Manafort held secret talks with Assange in Ecuadorian embassy | US ne…

archived 27 Nov 2018 14:26:32 UTC

archive.fo

WikiLeaks
@wikileaks

This is going to be one of the most infamous news disasters since Stern published the “Hitler Diaries”.


…click on the above link to read the rest of the article…

How the media encourages – and sustains – political warfare

Since his inauguration, President Donald Trump has been waging war against the American press by dismissing unfavorable reports as “fake news” and calling the media “the enemy of the American people.”

As a countermeasure, The Washington Post has publicly fact-checked every claim that Trump has labeled as fake. In August, The Boston Globe coordinated editorials from newspapers across the nation to push back against Trump’s attacks on the press. The Associated Press characterized this effort as the declaration of a “war of words” against Trump.

News organizations might frame themselves as the besieged party in this “war.” But what if they’re as much to blame as the president in this back-and-forth? And what if readers are to blame as well?

In an unpublished manuscript titled “The War of Words,” the late rhetorical theorist and cultural critic Kenneth Burke cast the media as agents of political warfare. In 2012, we found this manuscript in Burke’s papers and, after working closely with Burke’s family and the University of California Press, it will be published in October 2018.

In “The War of Words,” Burke urges readers to recognize the role they also play in sustaining polarization. He points to how seemingly innocuous features in a news story can actually compromise values readers might hold, whether it’s debating the issues further, finding points of consensus, and, ideally, avoiding war.

A book born out of the Cold War

In 1939 – just before Adolf Hitler invaded Poland – Burke wrote an influential essay, “The Rhetoric of Hitler’s ‘Battle,’” in which he outlined how Hitler had weaponized language to foment antipathy, scapegoat Jews and unite Germans against a common enemy.

After World War II ended and America’s leaders turned their attention to the Soviet Union, Burke saw some parallels to Hitler in the way language was being weaponized in the U.S.

…click on the above link to read the rest of the article…

Killing Journalists Is Wrong When the Saudis Do It — and When the United States Does It, Too

Killing Journalists Is Wrong When the Saudis Do It — and When the United States Does It, Too

Fatima Ayyoub (top R), 4, daughter of Jordanian Al Jazeera correspondent Tareq Ayyoub, is seen next to pictures of her father with Naeem Ayoub (L), father of Tareq Ayyoub, during a protest outside the Al Jazeera office in Amman Novmber 24, 2005. Ayyoub was a victim of a missile attack that hit the Al Jazeera bureau in Baghdad on April 8, 2003. Britain has warned media organisations they are breaking the law if they publish details of a leaked document said to show U.S. President George W. Bush wanted to bomb Arabic television station Al Jazeera. REUTERS/Majed Jaber - RP2DSFHMGFADTareq Ayoub’s daughter, Fatima, 4, and father, Naeem Ayoub, during a protest outside the Al Jazeera office in Amman on Nov. 24, 2005.

Photo: Majed Jaber/Reuters

WHAT LESSON SHOULD be learned from the brutal murder of Washington Post contributor Jamal Khashoggi and the ongoing geopolitical fallout from his death? That governments cannot be allowed to kill journalists with impunity, correct? Everyone from the secretary general of the United Nations to hawkish Republican senators have lined up to make this point and to express their concern and anger.

But is this a lesson that only applies to Middle Eastern dictatorships? Or to Western democracies, too? The United States, perhaps? The reason I ask is that we all now know the name of Arab journalist Jamal Khashoggi, but very few of us know the name of Arab journalist Tareq Ayoub.

The difference between them? An unelected crown prince in the Gulf is blamed for killing Khashoggi, while an elected president of the United States has been blamed for killing Ayoub.

We rightly demand justice in the case of Khashoggi, so why not in the case of Ayoub?

On the morning of April 8, 2003, less than three weeks after U.S. President George W. Bush ordered the illegal invasion of Iraq, Al Jazeera reporter Tareq Ayoub was on the rooftop of his network’s Baghdad bureau. The 35-year-old Palestinian from Jordan and his Iraqi cameraperson, Zoheir Nadhim, were reporting live on a pitched battle between U.S. and Iraqi forces for control of the capital. It was just three days after Ayoub had arrived in the country.”

…click on the above link to read the rest of the article…

There Is No Good Kind of Nationalism

There Is No Good Kind of Nationalism

Trump is for nationalism. So the “Resistance” is predictably for . . . wait for it . . . the right kind of nationalism — or nationalism worn properly, as The Week advises. The problem isn’t nationalism, The Hill informs us, it’s phony nationalism and spurious nationalism, or as the Washington Post explains along with CNN, the problem is actually white nationalism. Of course, white nationalism is a problem, but not just because it’s white — also because of the nationalism. Unless you read Esquire which comes up with the oh-so-novel pronouncement that nationalism is indeed bad, but patriotism is good.

Excuse me. I’m sorry. This is why the Resistance doesn’t resist. This is why people offering flags and manure win. The loyal opposition is offering smaller flags, manure, and air fresheners.

What’s wrong with nationalism, you ask. Can’t I love a location? Can’t I care for my loved ones? Must I hate babies and apple pie? What is wrong with you?

Well, if you love your town why not try out townism? Does your town have a flag? An anthem? Can you perform the proper rituals? Why not? You’re not a traitor, are you? Did Putin hire you to tear up treaties with Russia, and sanction Russia, and take over markets from . . . oh, forget it.

Do you love your state? Your region? Your continent? Well why aren’t you insisting on all of those isms? I’ll tell you why. Because they aren’t needed. It’s not that they aren’t needed because those levels of collective identity aren’t associated with war machines. Rather it is that nationalism consists of association with a war machine, identification with that war machine, and belief that you and your war machine are superior to others.

Well, can’t that be a harmless private matter?

Some have seriously tried to make that case, and I’ve found it completely unconvincing.[i]

…click on the above link to read the rest of the article…

Will Trump Split the World by Endorsing a Bold-Faced Lie?

Will Trump Split the World by Endorsing a Bold-Faced Lie?

The Saudi “investigation” into the Khashoggi murder, conducted on the demand of U.S. Secretary of State Mike Pompeo, is not yet complete. But preliminary conclusions have been announced in the Saudi media. Turns out (surprise, surprise!) Khashoggi died while in a choke-hold following a fist-fight in the Saudi consulate in Istanbul in a botched effort to detain him.

Asked Saturday in Arizona if he found the Saudi account credible, Donald Trump said that he did, praising the investigation as “a very important first step and it happened sooner that people thought it would happen”—as though its timing had not been determined by Pompeo’s pressure.

“I think it’s a good first step, it’s a big step,” the president repeated (as the world sighed). “Saudi Arabia has been a great ally,” he added, like that was relevant. Then in an interview with the Washington Post he indicated that he felt Crown Prince Mohammad bin Salman may have learned of the murder only after the fact. He went out of his way to praise the prince—his son-in-law Jared’s good buddy. He actually said he’d “love it” if the prince was not responsible.

This raises the real prospect of the administration—which according to the Post demands a “mutually agreeable explanation” from Riyadh—signing on to a narrative radically different from that provided by Turkish police. According to the latter,  the Saudi court ordered the gruesome murder in the consulate on Oct. 2.  It dispatched 15 assassins including members of MbS’s personal security detail and the kingdom’s top forensic doctor equipped with a bone-saw to execute the deed.

…click on the above link to read the rest of the article…

Skripal and Khashoggi: West Manufactures Absurd Fantasy to Pin on Russia, Lets Saudi Get Away With Chopping up WaPo Journalist Alive

Two disappearances, and two very different responses from Western governments, which illustrates their rank hypocrisy.

When former Russian spy Sergei Skripal went missing in England earlier this year, there was almost immediate punitive action by the British government and its NATO allies against Moscow. By contrast, Western governments are straining with restraint towards Saudi Arabia over the more shocking and provable case of murdered journalist Jamal Khashoggi.

The outcry by Western governments and media over the Skripal affair was deafening and resulted in Britain, the US and some 28 other countries expelling dozens of Russian diplomats on the back of unsubstantiated British allegations that the Kremlin tried to assassinate an exiled spy with a deadly nerve agent. The Trump administration has further tightened sanctions citing the Skripal incident.

London’s case against Moscow has been marked by wild speculation and ropey innuendo. No verifiable evidence of what actually happened to Sergei Skripal (67) and his daughter Yulia has been presented by the British authorities. Their claim that President Vladimir Putin sanctioned a hit squad armed with nerve poison relies on sheer conjecture.

All we know for sure is that the Skripals have been disappeared from public contact by the British authorities for more than seven months, since the mysterious incident of alleged poisoning in Salisbury on March 4.

Russian authorities and family relatives have been steadfastly refused any contact by London with the Skripal pair, despite more than 60 official requests from Moscow in accordance with international law and in spite of the fact that Yulia is a citizen of the Russian Federation with consular rights.

…click on the above link to read the rest of the article…

Be Skeptical Whenever The Political/Media Class Converges On A Single Narrative

Be Skeptical Whenever The Political/Media Class Converges On A Single Narrative

The Trump administration has ended its weeks-long silence on the disappearance of the Saudi Arabian Washington Post journalist Jamal Khashoggi. Following a briefing from Secretary of State Pompeo who has just returned from a visit to Riyadh and Ankara, the president has said that contrary to some hopeful speculation that had emerged early on after his disappearance, Khashoggi does indeed appear to have been killed at the Saudi consulate in Istanbul. If it is determined that the Saudis were responsible, Trump warned that there will be “very severe” consequences. Secretary of the Treasury Steve Mnuchin has announced that he will not be attending the Future Investment Initiative summit in Riyadh next week.

I’ve been following this story with some interest, but I haven’t been writing about it until now. This is one of those rare stories that has drawn the focus of both mainstream and alternative media, the latter because it’s seen as an opportunity to criticize the west’s extremely immoral involvement in the depraved activities of a murderous theocracy, and because it’s an opportunity to attack the hypocrisy of the establishment in decrying the murder of a single man while ignoring Saudi Arabia’s far more unconscionable behavior like its war crimes in Yemen and facilitation of bloodshed in Syria. Killing one man is very, very far from the top of the list of the most horrific things Saudi Arabia has done; criticizing them for that is like criticizing Henry Kissinger for not tipping well at restaurants.

The dominant anti-establishment criticism of the mainstream coverage of this story has been that they’re only upset at the Saudi royals now because their bloodshed finally touched a member of the political/media class, who are meant to be untouchable. And hey, that could be it, who knows.

…click on the above link to read the rest of the article…

The Arabian Game of Thrones Heats Up

The Arabian Game of Thrones Heats Up

The Arabian Game of Thrones Heats Up

The reported torture, murder, and dismemberment of Washington-based Saudi journalist Jamal Khashoggi at the Saudi consulate-general in Istanbul reminded the world that an intense power play is now taking place within the monarchies of the Arabian Peninsula and between them.

In November 2017, Saudi Crown Prince Mohammed bin Salman (MBS) ordered the arrest and detention at the Riyadh Ritz Carlton Hotel of over 200 members of the Saudi royal family, including eleven rival princes, as well as government ministers and influential businessmen. That came after an October 2017 meeting in Riyadh between MBS and Donald Trump’s son-in-law, Jared Kushner, conclave that lasted well into the early morning hours. At the meeting, Kushner is said to have turned over to MBS a list of the names of the Crown Prince’s opponents: leading figures of the Saudi royal house, government, and major businesses. The list may have also contained the name “Jamal Ahmad Khashoggi.”

The list of Saudi names was, reportedly, compiled by Kushner from top secret special code word documents he had specifically requested from the National Security Agency (NSA) and Central Intelligence Agency. The documents were specifically requested by Kushner, not because he was an expert in communications intercepts, but because he likely had a control officer who told him what files to obtain. The Kushner family have longstanding ties to the Israeli Likud Party, as well as the Mossad intelligence service. The Mossad enjoys a close working relationship with the Saudi General Intelligence Directorate, which is now firmly committed to MBS after a previous purge of its upper ranks following MBS’s rise to the heir apparent position in the House of Saud.

…click on the above link to read the rest of the article…

The Khashoggi Extortion Fiasco:

The Khashoggi Extortion Fiasco:

A mystifying diplomatic escalation ensued following the disappearance of Saudi Washington Post columnist, Jamal Khashoggi, after visiting the Saudi Consulate in Istanbul, Turkey.

Why would the United States of America make such a fuss over the disappearance of a non-American citizen? Why would America turn a blind eye to the Saudi killing of thousands of Yemeni civilians and the starving of millions others and then make “threats” against Saudi Arabia after one single Saudi journalist disappeared and has presumably been murdered by Saudi authorities?

And since when did Erdogan worry about human rights? After all, this is the same man whose army has committed countless atrocities against Syria and Turkish Kurds.

And the repercussions did not stop at the official level. Even Western business leaders are cancelling trade deals with Saudi Arabia and asking its government for explanations. https://www.cbsnews.com/news/business-leaders-cancel-saudi-events-ask-crown-prince-mohammed-bin-salman-for-info-on-jamal-khashoggi-disappearance/

Let us not forget that America does not only ignore the war on Yemen, but it also assists the Saudis and supplies them with arms and intelligence. What’s behind the sudden U-turn? Why would the President of the United States of America be personally involved in this? https://www.telegraph.co.uk/news/2018/10/11/donald-trump-demands-answers-saudi-arabia-missing-journalistjamalkhashoggi/

Furthermore, Saudi Arabia has a long history of persecuting dissidents and suppressing any opposition. So once again, why was Khashoggi singled out in this instance to become such a person of interest to the USA? His status as a journalist and columnist for Washington Post certainly does not answer this question.

And back to Erdogan, the man who reached the cliff-edge with America on a number of strategic and trade issues, why would he be concerned about the “murder” of a foreign journalist allegedly at the hand of his own government? According to the story, the “murder” was committed at the Saudi Consulate, and technically, Turkey has no jurisdiction within this diplomatic precinct albeit it is within Turkey.

…click on the above link to read the rest of the article…

 

World’s “Worst Famine In 100 Years” Will Hit Yemen, U.N. Warns

For a Saudi and Mohammed bin Salman (MbS) update that’s not directly related to the murder of journalist Jamal Khashoggi, a United Nations official on Sunday warned Yemen is now facing what could be “the worst famine in the world in 100 years” which is set to put “12-13 million innocent civilians at risk of starving,” according to the BBC.

Yemen’s war, which has involved intense Saudi-UAE-US coordinated airstrikes on civilian population centers going back to 2015 has been popularly dubbed “the forgotten war” due to its general absence from headlines and front page stories over the years.

As a few analysts and war reporters have pointed out in recent days, it took the murder of one Washington Post contributor who was one of the mainstream media’s own — for MbS to actually face any level of scrutiny, and yet the tens of thousands killed under Saudi coalition bombs is still largely taboo for the same mainstream to touch.

Saudi-led coalition airstrike on an arms depot in Sanaa in 2015. Image source: AFP

A top United Nations official who monitors Yemen, Lise Grande, told the BBC: “We predict that we could be looking at 12 to 13 million innocent civilians who are at risk of dying from the lack of food.”

She explained, “I think many of us felt as we went into the 21st century that is was unthinkable that we could see a famine like saw in Ethiopia, that we saw in Bengal, that we saw in parts of the Soviet Union, that was just unacceptable. Many of us had the confidence that that would never happen again and yet the reality is that in Yemen that is precisely what we are looking at.”

…click on the above link to read the rest of the article…

Saudi Media Casts Khashoffi Disappearance as a Conspiracy, Claims Qatar Owns Washington Post

TOPSHOT - Protestors hold pictures of missing journalist Jamal Khashoggi during a demonstration in front of the Saudi Arabian consulate on October 8, 2018 in Istanbul. - Jamal Khashoggi, a veteran Saudi journalist who has been critical towards the Saudi government has gone missing after visiting the kingdom's consulate in Istanbul on October 2, 2018, the Washington Post reported. Turkey has sought permission to search Saudi Arabia's consulate in Istanbul after a prominent journalist from the kingdom went missing last week following a visit to the building, Turkish television reported on October 8. (Photo by OZAN KOSE / AFP)        (Photo credit should read OZAN KOSE/AFP/Getty Images)
Photo: Ozan Kose/AFP/Getty Images

SAUDI MEDIA CASTS KHASHOGGI DISAPPEARANCE AS A CONSPIRACY, CLAIMS QATAR OWNS WASHINGTON POST

IN SAUDI ARABIA, major media outlets have cast the disappearance and apparent murder of Saudi dissident and Washington Post journalist Jamal Khashoggi as a foreign conspiracy to denigrate the image of the kingdom. The media accounts, which come from outlets run with the backing of Saudi Arabia and other Persian Gulf monarchies, are spinning the coverage of Khashoggi’s disappearance as a plot by rival governments and political groups to hurt the kingdom — going so far as to make false claims about the Washington Post’s owners.

The English-language arm of the news channel Al Arabiya, for instance, claimed that reports of Khashoggi’s detention inside the Saudi consulate in Istanbul were pushed by “media outlets affiliated with the outlawed Muslim Brotherhood and Qatar” — the pan-Arab Islamist political movement and rival Persian Gulf monarchy, respectively. A subsequent story on Al Arabiya casts doubt that Khashoggi’s fiancée, Hatice Cengiz, is truly who she says she is, claiming that her Twitter profile shows that she follows “critics of Saudi Arabia.”

Al Arabiya is owned by the Saudi royal family and based in Dubai, one of the Gulf monarchies that has sided closely with Saudi Arabia amid the regional row with Qatar and others. It’s among a handful of other Saudi- and Gulf-controlled outlets — such as Al Riyadh Daily, Al-Hayat, and the Saudi Gazette — that toe their governments’ line, including frequently casting a conspiratorial light on critics of the governments’ human rights records.

Saudi media outlets are kicking into overdrive to both deny any Saudi involvement and disparage Khashoggi.

…click on the above link to read the rest of the article…

Saudi Stocks Crash Most Since 2016 As Riyadh Threatens US With “Very Strong” Retaliation

Saudi Arabia warned on Sunday it would respond to any “threats” against it as its stock market crashed the most since 2016 after President Trump’s warning of “severe punishment” over the disappearance of Washington Post contributor Jamal Khashoggi.

On Saturday, Trump said the U.S. could take “very, very powerful, very strong, strong measures” against the country if its leaders are found responsible for the Saudi citizen’s fate. The kingdom, which denies its involvement in Khashoggi’s disappearance, announced it would retaliate against any punitive measures with an even “stronger” response, the Saudi Press Agency reported, citing an official it didn’t identify.

“The kingdom affirms its total rejection of any threats and attempts to undermine it, whether through economic sanctions, political pressure or repeating false accusations,” the kingdom’s statement said. “The kingdom also affirms that if it is (targeted by) any action, it will respond with greater action.”

Saudi Arabia has traditionally been one of Trump’s closest foreign allies, the US president made a point of visiting the kingdom on his first overseas trip as president and has touted arms sales to Saudi Arabia. But both the White House and the kingdom are under mounting pressure as concern grows over the fate of the veteran journalist, who hasn’t been seen since he entered the Saudi Consulate in Istanbul on Oct. 2.

The Saudi response came after Saudi Arabian stocks slumped the most since 2016 amid a broad selloff over collapsing relations with the US, with the Tadawul All Share Index, or TASI, plunging by 7% at one point during the week’s first day of trading, the most since December 2014, with all but seven of the gauge’s 186 members fell, led by Saudi Telecom, which declined 6.2%, Jabal Omar lost 6% and Saudi Basic Industries Corp. retreated 1.9%. Selling volume soared, with the number of shares traded more than double the 30-day average.

…click on the above link to read the rest of the article…

 

Is This the Beginning of the End of the U.S.-Saudi Alliance?

Photo: Jacquelyn Martin/AP

IS THIS THE BEGINNING OF THE END OF THE U.S.-SAUDI ALLIANCE?

THE DISAPPEARANCE OF Jamal Khashoggi last Tuesday is threatening to upend the terms of the decades-long alliance between the United States and Saudi Arabia. In the nine days since Khashoggi, a Saudi Arabian resident of Virginia and a Washington Post columnist, was last seen entering the Saudi consulate in Istanbul, politicians, media figures and foreign policy elites – even those who have fawned over the authoritarian Saudi Crown Prince Mohammad bin Salman — have grown increasingly critical of the U.S.-Saudi alliance.

The U.S. has long given the Saudis a blank check, politically and militarily, and there have been voices advocating for a rethinking of that decades-old relationship for nearly as long as it has lasted. But the widespread belief that the Saudis assassinated Khashoggi inside their consulate has brought those voices squarely into the center. Suddenly, the relationship between Saudi Arabia and the United States is being called into fundamental question.

President Donald Trump initially responded to questions about Khashoggi’s disappearance by saying “I don’t like hearing about it, and hopefully that will sort itself out.”  But on Thursday, he began to sound much less confident in his defense of Saudi Arabia, the first foreign country he visited as president. He said that it was beginning to look as though Khashoggi, a critic of the crown prince, was indeed murdered, but worried that jobs would be at risk if arms sales to the country were halted.

In the Senate, the kingdom is starting to lose its traditional bipartisan support, with almost every member of the Foreign Relations Committee calling on Trump to investigate Khashoggi’s disappearance. The Washington Post, meanwhile, has devoted extraordinary resources, both on the reporting and editorial side, to the case of its columnist.

…click on the above link to read the rest of the article…

Lynching Journalists

Lynching Journalists

Washington Post Global Opinions correspondent, Jamal Khashoggi, who is Saudi, entered his country’s consulate in Istanbul Tuesday of last week and hasn’t been seen since. Worse, Turkish officials say that Khashoggi was killed inside the consulate, his body dismembered, and then sneaked out of the building—lynched, you might say, and then disappeared, instead of hanged from a tree. The journalist had written articles critical of his country’s young leader, Mohammad bin Salman, the 33-year-old crown prince, who considers himself something of a liberal or at least as a reformer. How ironic that this barbarian act happened in Turkey, where in recent years more journalists have disappeared than in any other country (245 as of earlier this year, though, far as we know, none have been murdered).

Almost simultaneously with the incident in Istanbul, a 30-year-old Bulgarian journalist, Viktoria Marinova, was brutally raped and killed in Ruse, in the northeast of the country, where she was employed as a TV commentator. She had been a political investigator. Nor was she the only European journalist murdered during the past year. Daphne Caruana Galizia, similarly reporting on political issues (corruption in the government), was killed in Malta by a car bomb. And Jan Kuciak, a Slovakian journalist also working on government corruption, was shot and killed along with his fiancée.

Killing journalists has become a growth industry. In April, Jason Rezaian (another Global Opinions writer for the Washington Post, who was held captive in Iran for 544 days) described the deaths of journalists in Nicaragua, India, Brazil and Mexico during the past year. He cites President Rodrigo Duterte, of the Philippines, as saying, “Just because you’re a journalist you are not exempted from assassination, if you’re a son-of-a-bitch.”

…click on the above link to read the rest of the article…

ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’

With the Washington Post stepping up to put a floor under US stocks Thursday afternoon by reporting that President Trump would meet Chinese President Xi Jinping at next month’s G-20 summit (while the headline soothed the market, it doesn’t change the fact that, as with everything involving the Trump administration, this too remains subject to change), investors have apparently overlooked the latest ominous headlines out of Italy. To wit, Reuters reported that the ECB won’t come to Italy’s rescue if its government or banks run out of cash unless the Italian government first secures a bailout from the European Union. Of course, this would almost certainly require that the populist coalition end its ongoing game of fiscal chicken with Brussels and abandon its  dreams of lowering the retirement age and extending a basic income to the Italian people – policies that would effectively secure a political future for M5S and the League.

In effect, the ECB’s latest trial balloon is tantamount to blackmail: Either the Italians agree to fall back in line and obey European budgetary guidelines, or the central bank will sit back and watch as bond yields surge, providing the ratings agencies even more ammunition to cut Italian debt to junk – effectively guaranteeing a Greece-style banking crisis as the liquidity taps are turned off.

ECB

And to eliminate any lingering doubts that this was a deliberate coordinated leak, Reuters cited “five senior sources familiar with the ECB’s thinking,” many of whom were “present at the economic summit in Indonesia.” Of course, the ECB sources explained that they are merely acting in the best interest of the monetary union. Because if Italy is allowed to shake off the yoke of European austerity and re-assert its sovereignty, then what would stop Spain or Portugal from doing the same?

…click on the above link to read the rest of the article…

Olduvai IV: Courage
Click on image to read excerpts

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress