Who could have guessed that, seriously? I always thought that social inequalities favor the growth of left-wing activists and pressure groups but, according to a new study by the University of Tennessee, it seems that it is the opposite. A decrease in income and wealth favor the development of conservative values. No kidding. Check this out.
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Billionaire Warren Buffet wrote a letter to the editor of the New York Times recently. The letter was published in the August 15th edition. The reason why I am talking to you about that is that it is so rare to hear or read rich people in the U.S., and in the world, to actually say that it might be good to share both wealth and responsibilities with others, that it becomes an event by itself. As a centrist, I am becoming so weary of the useful fools on the Left but also on the Right, that sometimes I feel discouraged by all the crap that I hear or read. Here, with this letter, you have the opinion of a man who, believe it or not, and contrary to the vast majority of his peers, seems to have kept his senses, his intelligence, his judgement, his mental faculties. That’s certainly refreshing. So there is no way in hell that I want to miss that opportunity to underline that exercice. When people in charge, officially or in the shadows, conduct themselves as idiots, bandits and criminals, I think we have to say it and denounce it. But when they show opposite behavior, good and decent qualities, in all fairness, we have to pay tribute. It’s been a long time since I have not see anything coming out of the U.S., besides the work of my friends that I like to reference as often as I can, that seems moderate, thoughful and wise. That’s why I invite you to read this. The solution of our problems is not on the Right. The rich have to pay their taxes like any other citizens, in all fairness. And the solution is not on the Left. Seizing the wealth of the rich to give it to the poor makes no sense. When there are no rich anymore, who is going to invest huge chunks of capital when it is needed? The real solution is in the Center. Everybody is taxed by the governement at the same rate. Period. Thus, nobody can whine they are not treated with fairness. I also join a short clip of Buffet following the news that he had been chosen Presidential Medal of Freedom Recipient for 2010.
L’excellent Loïc Tassé est de retour sur les ondes du 98,5 FM. En entrevue à l’émission de Benoît Dutrizac, le spécialiste de la Chine et professeur à l’université nous parle ici de la croissance économique de la Chine qui, il faut le rappeler, est un pays communiste, face au désarroi des États-Unis. Les Américains, bien conscients de leur décroissance et impuissants à rattraper le retard qu’ils accusent sur la Chine, improvisent et s’embourbent. Les problèmes reliés à la dette et au déficit ne sont que deux éléments parmi tant d’autres d’une situation passablement complexe. L’investissement massif rendu nécessaire par la guerre en Irak a fait exploser les dépenses, ce qui a contribué grandement au problème de la dette. Dans quelques années, la Chine sera la première économie mondiale. Une entrevue à écouter absolument pour comprendre ce qui se passe en ce moment sur la planète et en particulier le « printemps arabe ». Si l’hypothèse d’une ingérence étrangère a été évoqué pour expliquer les « révolutions » au moyen-Orient, nous en avons ici la preuve tangible. L’empire anglo-américain essaie d’augmenter son emprise sur cette région du globe pour contrer l’influence grandissante de la Chine. Mais il semble que cela ne fonctionne pas vraiment. Une entrevue de Pepe Escobar à l’émission les Boiling Frogs, donne davantage de détails et d’explications sur cet aspect du sujet.
The excellent National Post published on Thursday June the 16th a follow up to the still ongoing imbroglio surrounding LSE’s bid for TMX, versus the local bid presented by the Maple Group created out of several canadian banks and pension funds. Xavier Rolet, CEO of the LSE, and Thomas Kloet, chief executive of TMX Group Inc, paid a visit to corporate Quebec on last Wednesday in a Marriott Hotel ballroom. They went there basically to try wining over the opinion of Quebec’s financial elite who had nevertheless already presented a counter-offer through the Maple Group for the acquisition of TMX. As Premier Jean Charest does endorse Maple Group’s bid and that the Group includes many financial institutions based in Quebec, the task ahead was difficult.
First, we must all admit that Xavier Rolet does what he has to do: he gives his sales pitch like a professional. He presents arguments, elements of interest, etc, to try to win over a favorable opinion. As an example, he even said that Maple’s bid was based on « worry and fear ». Now, that’s a big statement but it misses the point. Those who back LSE’s bid think there is no problem with it, since Canada is an open market economy. O.K. But again, that’s not the point. TMX-LSE merger has been presented, from the start, as a « merger of equals » . I am not inventing it, these are their own words. But when you end up with only 45% of the shares, compared to 55% for the opposing merging company, that’s not a « merger of equals », it is an acquisition, a take-over in disguise. I am not an economist. I don’t even have an undergraduate degree in mathematics. But I know my numbers. 45 doesn’t equal 55. Period. Whatever way you want to put it, these two numbers will never equal. Are you taking us for fools? Continuer la lecture
Finally, some groups from our country, like in the case of the Equinox Minerals bid by China Minmetals, made an offer to buy the TMX to keep the control of that stock exchange in Canada. Because, let’s speak frankly here, that supposed « merger of equals » is nothing less than a takeover of the TMX by the LSE. Question: why, according to you, the LSE wants so bad to buy the TMX? Financial analysts and « experts » could mention dozens of reasons but the most obvious that comes to mind is because the TMX controls the world’s resources. In previous articles on the so-called « revolutions » in the Middle East I, along with heroic anti-fascist researcher Dave Emory, warned readers and listeners not to get too optimistic about the « democratic » nature of these uprisings. These operations were conducted for strategical and geo-political reasons. The Earth’s resources are beginning to spread a little thinner in recent years due to the rise of the globe’s population and demand for products. Control of resources is the key of power for the world of tomorrow. Control the resources and you control the game, don’t control the resources and you’ll be left alone. It is as simple as that. In my posts, I often reminded you that our civilization is superior and that we have to take some measures to make sure that no one could take away all the great inventions and the quality of life that we have accomplished.
A geo-political concept that is often forgotten but nevertheless really essential for a real comprehension of the world is the concept of the « Earth Island ». It describes a stretch of land that begins at the Strait of Gibraltar and spreads until the confines of China. That piece of Earth contains the most of the world’s resources, the most population, the most lands, the most oil, etc. So at least a partial control of that area is essential for any global power or civilization. It is no surprise if the LSE wants to acquire control over the TMX. In effect, then they could be in a better position to manipulate the market in favor of their own interests. It is obvious that when the LSE made this bid for the TMX, their board of directors thought about their own wealth and the one of all the people they are networking with, and not the wealth of Canadians and of the world. That’s why I recommend that you, the TMX, close the deal with the Canadian groups. That’s the logical thing to do. If we keep the control of that institution here, then we are sure to keep some kind of control over our economy. Canada is a big country but with a tiny population, with a political sovereignty that depends totally on the good will of the Americans, with a rather tiny number of institutions, so that would be foolish to relinquish a tool such as the TMX, while our country is already not a big player on the world’s scene. As a Quebecker, having already lost the Montreal Stock Exchange, I would perceive this as an insult. If we accepted the deal with the Toronto Stock Exchange and the loss of control that resulted, that was not to see it go overseas afterwards. Here is a Globe and Mail article that presents the bid of the Canadian group, and a series of earlier posts about the uprisings in the Middle East.
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Le câble de WikiLeaks publié dans Le Devoir sur les relations entre les hommes politiques canadiens et québécois et Power Corporation a fait beaucoup jaser depuis hier. Envoyé à Washington en 2009 par le nouvel ambassadeur des États-Unis au Canada, David Jacobson, le document met en lumière le questionnement de l’ambassadeur quant au niveau d’influence réelle qu’exerce Power Corporation sur la vie politique canadienne et québécoise. Le câble mentionne également les investissements de Power dans une société pétrolière française, Total, ainsi que dans les sables bitumineux de l’Alberta. L’ambassadeur donne en exemple le comportement de Jean Charest lors du sommet environnemental de Copenhague, où le Premier Ministre du Québec semble avoir adouci sa rhétorique contre le gouvernement Harper et ses politiques sur les gaz à effets de serre.
Je vous propose ici le vidéo d’une conférence que Robin Philpot, auteur du livre Derrière l’État Desmarais: Power a donné au siège de la Société St-Jean-Baptiste voilà quelques années suite à la parution de son livre, ainsi qu’une entrevue donnée sur un ton plus humouristique à l’animateur de radio Benoît Dutrizac du 98,5 FM. Dans le vidéo de la conférence, on y apprend entre autres qu’à peu près rien n’a été publié sur l’empire Desmarais ou Power Corporation à ce jour. Les bibliothèques sont vides, alors que dans n’importe quel autre pays du monde, des dizaines de livres seraient consacrés à une famille aussi importante. Aussi, il semble avoir un vide médiatique autour des Desmarais, comme si on ne pouvait pas parler de cette famille-là ni de leurs affaires. Philpot y fait le tour du parcours financier et monétaire de l’empire et présente comment il s’est constitué. La fortune de la famille a commencé à se matérialiser grâce à l’industrie de l’hydro-électricité, avant que l’État québécois ne la nationalise. Avec les années, plusieurs entreprises se sont ajoutées au holding Desmarais comme Great West, Investors, etc. En de nombreuses occasions, la famille Desmarais a bénéficié de l’aide de l’État québécois ou canadien pour faire l’acquisition d’entreprises ou pour en prendre le contrôle et voilà quelques décennies, de généreuses subventions gouvernementales lui ont été accordées afin de moderniser la machinerie de l’industrie forestière. Or, depuis 1989, l’empire Desmarais n’a pas réinvesti un seul sou dans l’économie québécoise, ce qui est vraiment troublant. Leurs capitaux ont plutôt été placés aux États-Unis, en Chine, etc. Continuer la lecture
Yesterday’s Globe and Mail edition featured an article on oil spills that have happened recently in relation with the North American pipeline that is in the process of being completed. Among recent spills, we have had incidents in a Michigan river, a Chicago suburb, a small ranch and a forest in Alberta and now in North Dakota. As it was to be expected, many have expressed reservations in regards with the pipeline industry, doubting that the activity in itself is anything but secure. Elizabeth May of the Green Party took the opportunity to celebrate her victory in the last elections by presenting the known propaganda line of the Green movement and, after all, she has been elected to do just that. I don’t have a problem with it.
What I have a problem with is, again, the lack of long-term vision that affects a lot of Canadians when comes the time of studying and analysing a situation. Terrorism and Islamic civilization-jihadism is sponsored by oil producer countries, namely Arab and Muslim states such as Saudi Arabia, states of the Gulf, Iran, possibly Pakistan, and others that we don’t know. What we are trying to do in America by constructing this pipeline is to become independent vis à vis these countries that sponsor terrorism and that use the oil supply to exert threats and blackmail on western countries. To give the example of Europe, it seems rather too late for them, if we are to judge on the fact that they have embraced the campaign of delegitimization of Israel put forward by the Organization of the Islamic Conference. Being dependent on the oil coming from the countries of the OIC, the European Union has committed treason on their citizens by accepting that Europe would be progressively assimilated by Islam and its values. We can see it by the enormous amount of immigrants that pour in every year coming from Arab and Muslims countries. These immigrants are arabizing and islamizing Europe, and its leaders don’t do anything to counter that, because they are complicit. They have struck a deal with the OIC and they have to keep their end of the bargain. Is it what you would like to happen to North America, to have a bunch of mullahs and imams setting their agenda on us, to be able to islamize and assimilate our countries? Continuer la lecture
Finally, somebody in Canada reacted to the attempt by a foreign group to take control of the canadian company Equinox Minerals Ltd. Canadian company Barrick Gold Corp made a bid of $7.3 billion dollars to acquire Equinox Minerals. 15 hours after the offer, China Minmetals Resources Ltd announced that it was pulling out of the bidding process. By making this acquisition, Barrick Gold broadens its field of interest to include copper in its portfolio. I like it, globally. Not knowing what the Chinese were up to with that bid, I prefer for the moment that the control of the company stays here. It is in the culture of the business community now to always aim at getting bigger and bigger and to swallow smaller companies, I know. Maybe in 100 years there will be only 5 companies left on the whole surface of the Earth. That’s the goal of the Third Reich anyway, to be able to control the world with a few number of companies. But for today, I think it is a good news for Canada that we could keep Equinox here. Check on the earlier post and read the articles below.
Look at these beautiful « rebels » from Libya. Don’t you think that they are not inspiring for the democratic life? Look at the way they present freedom of speech, democracy and all the values belonging to it… Isn’t that amazing? All this time we could have had the immense privilege of being taught and guided by these extraordinary examples of citizens exercizing their democratic rights, and we missed it! I guess it is because we, westerners, have such a poor opinions of these folks. In our wisdom, we decided to back authoritarian figures that would terrorize the people of these countries, and all this time we were wrong! Look at how they are capable of handling democratic expressions, enter into dialogue, negociate and find concrete solutions that would satisfy all parties… It is such a pity that we did’nt see that before… Anyway, that’s the kind of people the West is backing in Libya. Check also my previous posts on the Libyan mess: Ghadafi, Piggy-Back Coup, 50 Point Manifesto, Mike Baker, China’s aggressive bid, Turkish Taffy. These pictures are graphic, so brace yourselves.
Here is an interview that Lucy Komisar, an investigative reporter specialized on matters related to financial fraud and tricks, gave to Dave Emory for his show, For The Record. Being not a specialist of the financial sector, I won’t venture too far. But there are certain things that I want to draw your attention to, and these are the few tricks that have been developped recently by the crooks of Wall Street. Here they are: short selling, naked short selling and credit default swap.
Short selling happens when a broker buys shares for a client and wait for a certain period of time before transfering it to the buyer. In other terms, the broker waits for the value of the shares to rise on the market before transfering it, therefore making a direct profit in the exchange, besides his normal commission. To give an example, let’s say a broker buys shares at $10 and then waits three days, the legal period of wait, and transfers them at the new current value, for example $12. He then makes a direct profit of $2 per share, plus the commission. Naked short selling happens when a broker buys shares that don’t exist, through a mecanism of « lending » of shares that the Wall Street crooks have invented. With this scheme, the client buyer is not really the owner of the shares, even if he or she possesses papers of ownership. This scam is exposed when there is a vote of share owners and that a greater number of votes are counted than the actual number of shares that exist for that stock. But evidently, the broker gets paid by the « buyer » the value of this phantom share as if it would be real. And credit default swap happens when debts are bundled in large packages and resold in the form of derivative products. You might have heard of the expression « toxic assets ». Anyway, I remind you that I am not sure to get all the nuances for these abstract notions and financial manoeuvres, that is why I am suggeting you to listen to the interview and read the description that Emory made of it in FTR #650. Also, I have joined an article by Lucy Komisar posted on her website about AIG and their financial gambits and problems.
We are governed by crooks and liars. If it is not evident for you already, I think there is more than enough material for you here to change your mind. Welcome to Brave New World.