The John James Newsletter. <69>

The John James Newsletter 69

18 July 2015 – Provins, France

Men prefer to believe what they prefer to be true

Francis Bacon C16 Lord Chancellor of Britain

The corporate grip on opinion in the US is one of the wonders of the Western world. No First World country has ever managed to eliminate so entirely from its media all objectivity – much less dissent.

Gore Vidal

The World is Defenseless Against the Next Financial Crisis

The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises, the Bank of International Settlements has warned. The so-called central bank of central banks launched a scathing critique of global monetary policy in its annual report, claiming that central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies. These low rates have fuelled economic booms, encouraging excessive risk taking. Booms have then turned to busts, which policymakers have responded to with even lower rates.

http://www.telegraph.co.uk/finance/economics/11704051/The-world-is-defenseless-against-the-next-financial-crisis-warns-BIS.html 

China Destroyed Its Stock Market in Order to Save It

The enormously invasive measures Beijing used to stem trading losses may have damaged the Shanghai and Shenzhen exchanges for years to come.

http://foreignpolicy.com/2015/07/16/china-destroyed-its-stock-market-in-order-to-save-it

China’s real estate, credit and investment bubble risks global recession

China is the number one threat to the global economy, analysts say, with an over-inflated “triple bubble” threatening to drag global gross domestic product below 2 per cent.

http://www.smh.com.au/business/china/chinas-real-estate-credit-and-investment-bubble-risks-global-recession-20150717-giebmc 

Are Big Banks Using Derivatives To Suppress Bullion Prices?

The bullion banks sell uncovered shorts on the gold futures market to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts an artificial increase in “paper gold” is created, and this increase in supply drives down the price.

http://www.paulcraigroberts.org/2015/07/08/big-banks-using-derivatives-suppress-bullion-prices-paul-craig-roberts-dave-kranzler

We Own The World

Noam Chomsky: Is the empire worth building – and at what cost?

http://www.informationclearinghouse.info/article42337.htm 

The Humanitarian’s Dilemma

As the humanitarian crisis deepens for Palestinians in the West Bank and Gaza, Doctors Without Borders is trying to heal their wounds without enabling the occupation. As the suffering has become normalized, we have been questioning the wisdom of our presence. This is the humanitarian’s dilemma: how to alleviate the suffering of a population while not enabling the powers at the root of the pain. Today, due to settlements, byways, checkpoints, and military deployments, Palestinians can inhabit less than 40 percent of the West Bank.

http://foreignpolicy.com/2015/07/15/the-humanitarians-dilemma-palestine-gaza-doctors-without-borders

Unbridled capitalism is the ‘dung of the devil’

The pontiff condemns the impoverishment of developing countries and apologised for the church’s treatment of native Americans

http://www.theguardian.com/world/2015/jul/10/poor-must-change-new-colonialism-of-economic-order-says-pope-francis?CMP=ema_565 

Pope Calls on World Youth to Rise Up Against Global Capitalism

He assailed the prevailing economic system saying that the systemic “greed for money” is a “subtle dictatorship” that “condemns and enslaves men and women”.

http://www.commondreams.org/news/2015/07/13/pope-calls-world-youth-rise-against-global-capitalism 

Pope Calls For New Economic Order, Criticizes Capitalism

Pope Francis in one of the longest, most passionate speeches of his pontificate,: “We want change, real change, structural change,” the pope said, decrying a system that “has imposed the mentality of profit at any price, with no concern for social exclusion or the destruction of nature.”

http://www.reuters.com/article/2015/07/09/us-pope-latam-bolivia-idUSKCN0PJ29B20150709 

The Encyclical and its economics

http://steadystate.org/the-pope-francis-encyclical-and-its-economics

Solar and battery storage already cheaper than grid power in Australia

Adding one kilowatt-hour of battery storage raises that cost slightly, but is still well below the cost of the grid-sourced power. Even 5kWh of battery storage can be installed and still costs are below that of the grid.

http://reneweconomy.com.au/2015/solar-and-battery-storage-already-cheaper-than-grid-power-in-australia-66169 

Hungary Begins Building Border Fence to Keep Out Migrants

It is the major route for immigrants into Europe.

http://www.telesurtv.net/english/news/Hungary-Begins-Building-Border-Fence-to-Keep-Out-Migrants-20150714-0011.html 

Greek Bailout Deal Highlights Monumental Scale Of Syriza’s Betrayal

Tsipras has signed an agreement that transforms Greece into a de facto colony of the EU and places the country under the dictates of Germany. What remains of the Greek economy, above all its most valuable assets, is to be pillaged so that Athens can continue to pay back loans. Greece is to be placed under the direct control of EU officials. The function of Greece’s parliament will be to rubber-stamp the transfer of real authority to Brussels and Berlin.

http://www.countercurrents.org/marsden140715.htm 

The Crisis Made Simple

In a single currency zone without the option of devaluation purchasing power will drain to the more competitive. To continue buying the less competitive have to borrow. Interest on borrowing makes the problem worse. The dilemma is unresolvable.

http://www.countercurrents.org/davey120715.htm 

and this video

http://www.informationclearinghouse.info/article42394.htm 

Is the Australian drive to austerity any different?

We Are All Greeks Now 

http://www.commondreams.org/views/2015/07/13/we-are-all-greeks-now 

Everything you think you know about addiction is wrong

in this deeply personal talk, are unearthed some surprising and hopeful thoughts about an age-old problem.

http://www.ted.com/talks/johann_hari_everything_you_think_you_know_about_addiction_is_wrong 

We’re Already In The ‘Worst Case Scenario’ For Sea Level Rise

When we talk about Sea Level Rise in the year 2100 we need to realise It’s not going to stop then; it will keep rising after. It’s important to realize the decisions we make today will influence that trajectory.

http://thinkprogress.org/climate/2015/07/10/3678948/ice-sheets-could-add-20-feet-to-sea-level-with-current-temperature-increase/

Warming of oceans is now unstoppable

Seas will continue to warm for centuries even if manmade greenhouse gas emissions were frozen at today’s levels, after record temperatures last year, bringing additional sea-level rise, and raising the risks of severe storms

http://www.theguardian.com/environment/2015/jul/16/warming-of-oceans-due-to-climate-change-is-unstoppable-say-us-scientists 

700,000 Australian buildings at risk from just 1 metre sea level rise

Thttp://takvera.blogspot.com.au/2007/03/700000-australian-buildings-at-risk.html  

Time is running out for marine life due to global warming

http://www.dailymail.co.uk/sciencetech/article-3147648/The-Earth-s-oceans-DYING-Researchers-warn-time-running-marine-life-global-warming.html#ixzz3frz2DvFc 

Shrubs in Arctic are spreading, disrupting snow cover and reducing the sunlight reflected

http://www.dailymail.co.uk/sciencetech/article-3152508/Are-shrubs-causing-global-warming-Arctic-plant-growth-changing-heat-sun-reflected-space.html#ixzz3fry1Fdb1 

Seas could rise 6 metres even IF governments curb global warming

http://www.dailymail.co.uk/sciencetech/article-3155220/Seas-rise-6-metres-governments-curb-warming-study.html 

Heat hasn’t disappeared, it’s just been buried in the oceans between 300 and 1,000ft

http://www.dailymail.co.uk/sciencetech/article-3155568/Have-seas-HIDING-true-scale-climate-change-Nasa-report-claims-global-warming-pause-never-happened.html 

Violent Crime Is Surging In Major US Cities And The Economy Is Not Even Crashing Yet

I baelieve that we have entered a period when violent crime is going to skyrocket – especially in the next economic downturn.

http://endoftheamericandream.com

China and Russia Lay Foundation for Massive Economic Cooperation

Russia is aiming to retain its influence as the security guarantor in the region. This satisfies both China, which is wary of deploying troops beyond its borders, and Central Asian countries used to a Russian military presence. “Under this arrangement, China would be the bank and Russia would be the big gun”.

https://foreignpolicy.com/2015/07/10/china-russia-sco-ufa-summit-putin-xi-jinping-eurasian-union-silk-road

Putin Leads BRICS Uprising

There’s been a virtual blackout of news from this year’s seventh annual BRICS summit in Ufa, Russia.

http://www.informationclearinghouse.info/article42359.htm   

and

http://atimes.com/2015/07/putin-scores-points-at-brics-summit

The history of the planet 

National Geographic – and fascinating!

https://youtu.be/SYOarZKipnU

Pro-ISIS Airline Pilots Tracked by Law Enforcement in Southeast Asia

There appears to have been a sharp increase in the number of Indonesians fighting with ISIS in the last few months. Between March 1 and June 1, 2015, 44 Indonesians have been killed in Syria and Iraq, The Australian document shows that ISIS appears to be “recruiting skill sets, professional groups”

https://firstlook.org/theintercept/2015/07/08/australia-tracking-indonesian-pilots-supporting-isis

India launches record five satellites, plans 28 more 

The Friday multiple-satellite launch was its 120th successful space mission and 74th satellite launch. India’s space agency declared a hectic launch schedule of 28 satellites, belonging to seven countries, within the next three years.

http://atimes.com/2015/07/indias-isro-launches-record-five-satellites-plans-28-more

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