In These New Times

A new paradigm for a post-imperial world

Enter Captain Corbyn!

Posted by seumasach on September 27, 2018

Cailean Bochanan

27th September, 2018

The analogy coming forcibly to mind of late was of Britain as a ship adrift without a captain heading towards the rocks as the crew below indulged in an endless brawl, unaware of or indifferent to the grim fate awaiting them. But my spirits have been lifted by the Labour Party conference; could it be that someone has emerged who can put the ship of state back on course to somewhere that is not the abyss. In other words, can Corbyn finally end his highly ambiguous stance on Brexit and at the crucial moment come out for Remain.

Without of course stating anything of the kind, Corbyn has pointed to that as the only logical outcome. The bare facts are that there is a consensus now in the Labour Party that Labour will vote against any deal negotiated by Teresa May which doesn’t satisfy the criteria that Labour has set down and that Labour will oppose a no-deal Brexit. Well, no deal which could conceivably be negotiated by May could satisfy those criteria therefore Labour will vote down whatever she comes up with. That means that deal would fail to pass the Commons leaving us with a no-deal Brexit. Opposing this at any cost, Labour would then campaign for a referendum with the two options being: Remain or the deal negotiated by May. They would win support for this in the Commons and the country would vote by a clear majority for Remain.

This was the logical kernel of the fudge agreed upon at the LP conference. But it was a tiny island of logic in a sea of fudge. Truth-telling is political suicide in the contemporary world: everything must be approached obliquely, through dissimulation, through fudge. Labour haven’t actually come out for Remain. It has been tentatively suggested as an option; all options are on the table, therefore, Remain is on the table. It could even be on the ballot paper (how could it not be!) should it come, in extremis, to a second referendum.  

The main element of dissimulation is the claim that Labour prefer to have a General Election so that they can take on the Brexit negotiations, so that they can take on May’s hopeless conundrum. As if they hadn’t learnt the one clear lesson of the last two years: there is no such thing as a Soft Brexit! They must have worked out by now that the Soft Brexit scenario was merely an invention of the hard line brexiteers to help sell a Hard Brexit i.e. Brexit by lulling the people into a false sense of security and then blaming Europe for a Hard Brexit and the whole mess that would flow from it. Incidentally, why they would want a mess in the first instance is a very good question that, with a bit of luck, we will learn the answer to in the years ahead. Anyway, returning to Labour’s fudge, they’re professed aim of demanding a General Election provides a very good alibi in anticipation of  any accusations of being closet Remainers and helps smooth over divisions in the party between those with the perfectly achievable goal of Remain and those who insist on pursuing the impossible mirage of a benign Brexit, a Brexit for jobs, a Brexit for Ireland and other such nonsense.

I’m being a bit unfair. There is a benign Brexit option: the Norwegian option. This could come in handy if Labour are unlucky enough to win a General Election called, for some reason, by Teresa May. After all, it would be very difficult for them to call a referendum after reaching their heart’s desire of a chance to negotiate a “Brexit for jobs”. So they could leave the EU but remain in the single market, maintain free movement etc.. Only, they wouldn’t have any input into the EU project. That wouldn’t be the end of the world. The EU has developed quite nicely without our input: they’re already working with Russia and China to bypass US sanctions against Iran and uphold the Iran deal. Britain would just have to sit things out for a while in the sin bin, quarantined from a world that is passing us by. But the ship of state would still be afloat!

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Europe and Iran plot oil-for-goods scheme to bypass US sanctions

Posted by seumasach on September 27, 2018

“What is certain now is that thanks to Donald Trump’s policy, Europe is working closer now with China and Russia,” a western diplomat told The Independent.

It will be interesting to see where this leaves the Little Englanders’ anti-Russian crusade.

Independent

27th September

 

Diplomats are examining a scheme to barter Iranian oil for European goods through Russia as part of mechanism to bypass American sanctions on the Islamic Republic, The Independent can reveal.

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Europe finally has an excuse to challenge the dollar

Posted by seumasach on September 26, 2018

“Creating “a defensible banking architecture” may well be the end goal for the Europeans, China and Russia, anyway. Iran is only a convenient pretext: the nuclear agreement is one of the few things that unite the EU, China and Russia against the U.S. But working to undermine the dollar’s global dominance isn’t ultimately about Iran at all. In his recent State of the European Union speech, European Commission President Jean-Claude Juncker called for strengthening the euro’s international role and moving away from traditional dollar invoicing in foreign trade. China and Russia have long sought the same thing, but it’s only with Europe, home of the world’s second biggest reserve currency, that they stand a chance of challenging American dominance.”

Bloomberg

25th September, 2018

With more and more European companies fleeing Iran following the re-imposition of U.S. sanctions, it may be tempting for Americans to write off Europe’s efforts to save the Iran nuclear deal. It would be wiser to resist the temptation.

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North, South Korea end state of war

Posted by seumasach on September 20, 2018

Sputnik News

19th September, 2018

North Korea and South Korea signed an agreement in defence sector as well as a joint statement following the results of the summit in Pyongyang. South Korean President Moon Jae-in and North Korean leader Kim Jong Un have in fact proclaimed the end of the state of war, the South Korean presidential spokesperson said on Wednesday.

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The euro has the power to challenge the dollar

Posted by seumasach on September 13, 2018

Bloomberg

12th September, 2018

European Commission President Jean-Claude Juncker isn’t a nationalist populist, but he devoted his State of the European Union address on Wednesday to the defense of “European sovereignty.” This means, among other things, using the euro to challenge the U.S. dollar’s global dominance, particularly in an era of growing American unilateralism.

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The global financial system is unraveling…

Posted by seumasach on September 5, 2018

On the one hand, we can expect to see defaults on dollar debt. On the other, dollars held abroad will be used to prop up falling currencies- for example, China may support the Turkish Lira- or used to buy gold or commodities.

And No, the U.S. Is Not immune

Charles Hugh Smith

Of Two Minds

4th September, 2018

Currencies don’t melt down randomly. This is only the first stage of a complete re-ordering of the global financial system.

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It’s time for realism in EU-Russia ties: France’s Macron

Posted by seumasach on September 2, 2018

This looks like the decisive,long-awaited moment. Prompted by Trump, who seems intent on US withdrawal from Europe, the EU leadership knows that it must now look east. Rumours that Turkey is about to default on its debt could draw the EU closer to avoid heavy loses but negotiations would no longer be about Turkey joining the EU but, rather, the EU joining Turkey, Russia, Iran and , above all, China. The EU project becomes the Eurasian project.

Reuters

30th August, 2018

HELSINKI (Reuters) – French President Emmanuel Macron urged the European Union on Thursday to modernize its post-Cold War ties with Russia and pursue “strategic relations” with Turkey as well as other close neighbors, including in defense matters.

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Back in the (great) game: the revenge of Eurasian land powers

Posted by seumasach on September 1, 2018

Pepe Escobar

Consortium News

29th August, 2018

Get ready for a major geopolitical chessboard rumble: from now on, every butterfly fluttering its wings and setting off a tornado directly connects to the battle between Eurasia integration and Western sanctions as foreign policy.

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Iran sanctions, emerging markets and the end of dollar dominance

Posted by seumasach on August 30, 2018

Brandon Smith

Birch Gold

The trade war is a rather strange and bewildering affair if you do not understand the underlying goal behind it. If you think that the goal is to balance the trade deficit and provide a more amicable deal for U.S. producers on the global market, then you are probably finding yourself either confused, or operating on blind faith that the details will work themselves out.

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Turkey’s crisis and the dollar’s future

Posted by seumasach on August 27, 2018

Alastair MacLeod

Mises Institute

22nd August, 2018

 

Last week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of footloose dollars betting against these weak currencies, as well as commodities and gold, on the basis the long-expected squeeze on dollar liquidity is finally upon us.

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Putin’s wedding trip seals marriage of convenience with Merkel

Posted by seumasach on August 25, 2018

Pepe Escobar

Asia Times

25th August, 2018

It was supposed to be a low-key, traditional Austrian wedding until Vladimir Putin pulled up in a black limo. The bride was Austrian Foreign Minister Karin Kneissl, a top energy analystand former professor at the Diplomatic Academy in Vienna and the European Business School in Frankfurt.

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