Accurate Currency Markets Forecasting and Managed Account ...

Global Financial Markets: Habits of Good Traders and Bad Traders [Part 1]

Global Financial Markets: Habits of Good Traders and Bad Traders [Part 1]
The Internet has created opportunity of easy access to the Global Financial Markets. Everyone who desires to learn and earn can now trade in the Global Financial Markets, irrespective of their location around the world without discrimination. What used to be the secret investment opportunity for the rich and privileged few, has now become an open marketplace through digital platforms made accessible on mobile phones, portable tablets and laptops. Therefore, as Internet connectivity and broadband access continues to penetrate into every remote corners of the globe, the awareness of Global Financial Markets commonly referred to as FOREX TRADING, will continue to soar!
According to Ian H. Giddy, Stern School of Business, New York University “The global financial markets include the market for foreign exchange, such as the Eurocurrency and related money markets, the international capital markets, notably the Eurobond and global equity markets, the commodity market and last but not least, the markets for forward contracts, options, swaps and other derivatives”. Simply put, the Global Financial Markets is a virtual platform for online trading of Currencies of countries at the International Foreign Exchange Rate, as it is done real time between Banks, Large Corporations, Investment Firms, Hedge Funds and Private Equity Portfolio managers. These are the big players, usually called the Market Makers. These Market Makers are high value and high volume traders that account for over 90% of the 5 trillion dollars worth of trading done everyday for 24 hours throughout the 5 working days of the week. The participation of Individual Traders called Retail Traders in the Global Financial Markets is only possible through a registered and verified account on the trading platform of licensed and regulated Brokers like in the Stock Exchange industry.
While the sound of participating in an open market valued at over 5 trillion dollars per day, sounds attractive and inspiring; very few Individual Traders have successfully earned profits from the Global Financial Markets consistently. In many instances, the odds are usually against the Individual Traders due to the numerous cycles of events and uncertainties that influence Global Economy and Trade relationships between countries of the world which directly or indirectly affect the sentiments of buyers and sellers of the currency of countries against others.
While many may assume that making profit in the Global Financial Markets is just as simple as clicking BUY or SELL buttons on the Broker’s trading platform, the few successful traders know that there are a lot more to learn and apply. Like everything in life, learning by doing is the best way to winning the trophy. Fairly enough, all Forex Brokers in the Global Financial Markets provide demo accounts with virtual money to help traders learn and practice before investing their real money. Unfortunately, due to the habit of indiscipline, many traders are usually impatient in learning and often allow greed to push them to rush into live trading without developing the necessary skills and habits that will guarantee consistent profit and successful trading career.

“Discipline is the ultimate secret of Distinction. What makes the difference between Good and Bad Traders is Self-Discipline!”


[Image Source: https://trading-education.com/101-inspirational-trading-quotes-and-what-they-mean]
The only Broker that I have personally observed to be committed to helping Individual Traders develop Self-Discipline and Expertise through continuous Education and Enforcement of Self-Discipline is Olymp Trade [www.olymptrade.com]. The Broker enforces self-discipline through an automated Trade Limit which is triggered when an Individual Trader begins to take reckless risks with their hard-earned money in search for dangerous profits. Many inexperienced traders hate this trade limit control, but the good, expert traders openly appreciate Olymp Trade for helping them to develop the Self-Discipline habit.
With the implementation of the Trade Limit rule, Olymp Trade has helped many of her Individual traders to learn the self-discipline habit. This has given a higher percentage of beginners or novice traders the golden opportunity to become an expert trader and earn profit consistently over time, while they avoid the common pitfalls that destroy many who trade with other brokers without the Trade Limit feature on their platform.

[Image Source: https://trading-education.com/101-inspirational-trading-quotes-and-what-they-mean]
In conclusion, while this article emphasized that Self-Discipline is the main difference between good traders and bad traders, there are other habits of good traders that will be explained in subsequent articles coming soon in this series.
Thanks for reading and adding your own comment to this article.
References
Ian H. Giddy: The Global Financial Markets.
[http://people.stern.nyu.edu/igiddy/gfm.htm#:~:text=The%20global%20financial%20markets%20include,options%2C%20swaps%20and%20other%20derivatives]
submitted by MxLawal to u/MxLawal [link] [comments]

Immediate Aftermath : The more data we collect and analyze, the clearer the picture becomes.

This is the updated first part of the list that has recorded the notable events as the world deals with the COVID-19 pandemic. [2nd Part] ― The LINKS to events and sources are placed throughout the timeline.
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The More Data We Collect and Analyze, the Clearer the Picture Becomes.
Someone threw a stone in a pond a long way away. And we're only just feeling the ripples. — Fukuhara from Giri/Haji, Netflix series
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On Jan 30, Italian PM announced that Italy had blocked all flights to and from China. While Italy has banned people from air-travelling to China, however according to IATA data, there's no measurement implemented for air-travellers from China into Italy till the Mar 07. Especially for Chinese people who have EU passports.
On Jan 31, the US announced the category-I travel restrictions, barring all foreigners who have been in China for the past 14 days, with measures including the refusal of visas and mandatory quarantine.
• "Because the US focused on China and didn't expect the infected people's entry from Europe and the Middle East, the Maginot Line was breached from behind. And so little of credible data at the beginning made the US government to miscalculate its strategic response to the virus." — Dr. Zhang Lun, currently a visiting scholar at Harvard (economics & sociology), during the interview with ICPC on Mar 29.
Also on Jan 31, the WHO changed its tune and declared the coronavirus outbreak a Global Public Health Emergency of international concern (PHEIC).
Decisions on a PHEIC always involve politics .... West African countries discouraged a declaration in 2014 after they were hit by the largest Ebola virus outbreak on record, mainly because of concern about the economic impact.
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On Feb 02, regarding the US category-I travel restrictions, Kamala Harris, the former Democratic presidential candidate, declared on Twitter:
Since 2017, Trump’s travel bans have never been rooted in national security—they’re about discriminating against people of color. They are, without a doubt, rooted in anti-immigrant, white supremacist ideologies. This travel ban is no different.
On Feb 03, criticizing Trump for his travel restrictions continues. Chinese foreign ministry spokeswoman Hua Chunying (华春莹), a Peking University professors James Liang (梁建章), New York Times, the Nation, OBSERVER, the Boston Globe, Yahoo, and Daily Kos were saying,
it's a "panicky" decision and "racist" or it's "cruel and callous," he's stoking fear for political gains, and the president is "inappropriately overreacting." And professors Liang even said the US ban "will hurt goodwill and cooperation [with China] in the future." [1] [2] [3] [4] [5] [6] [7] [8] [9]
Also on Feb 03, Mr. Tedros of the WHO said there's no need for travel ban measure that "unnecessarily interfere with international travel and trade" trying to halt the spread of the virus.
China's delegate took the floor ... and denounced measures by "some countries" that have denied entry to people holding passports issued in Hubei province - at the centre of the outbreak - and to deny visas and cancel flights.
Also on Feb 03, China is expected to gradually implement a larger stimulus packages (in total) than a USD $572 billion from 2008. — We'd never find out but my guess is that the fund will probably go to Shanghai clique.
On Feb 04, The FDA has given emergency authorization to a new test kit by the CDC that promises to help public health labs meet a potential surge in cases.
The speed ... pushing through a new diagnostic test shows just how seriously they’re taking the potentially pandemic threat of 2019-nCoV. It’s also a sign that the world is starting to learn how to deal with an onslaught of new pathogens.
Also on Feb 04, the Wuhan Institute of Virology and China's Academy of Military Medical Sciences (AMMS, Chief Chen Wei belongs to) have jointly applied to patent the use of Remdesivir. Scientists from both institutes said in a paper published in Nature’s Cell Research that they found both Remdesivir and Chloroquine to be an effective way to inhibit the coronavirus.
On Feb 06, Jamestown Foundation, a Washington-based research & analysis unit, noted that with State Council of PRC praising his performance of containing the pandemic situation, the council expanded Li Keqiang's political control over Politburo Standing Committee of CCP. (Li Keqiang = Communist Youth League = Shanghai clique)
Also, on Feb 06, as the US evacuation planes leave China, the wave of the US evacuees have arrived who are met by the CDC personnel at the quarantine sites for screening, and those who were suspected of infection will be placed under quarantine for 14 days.
Also, on Feb 06, a CDC-developed lab test kit to detect the new coronavirus began shipping to qualified US laboratories and international ones. — However, on Feb 12, the CDC said some of the testing kits have flaws and do not work properly. The CDC finally ended up shipping the working test kits for mass testings on Feb 27. This was three weeks later than originally planned.
On Feb 07, China National Petroleum has recently declared Force Majeure on gas imports. They are trying to create a breathing room for their foreign exchange reserves shortage. China's foreign exchange reserves fell to mere USD $3.1 trillion in Oct. 2019.
On the same day, Bloomberg reported that PetroChina has directed employees in 20 countries to buy N95 face masks and send them home in China. The goal is to get 2 million masks shipped back. You can also find YouTube videos that show Overseas Chinese are scouring the masks at the Home Depot to ship them to China (the video in Korean). Also Chris Smith is pissed.
On Feb 09, Trump renews his national emergency on its southern border, and Elizabeth Goitein from the Brennan Center for Justice, published an opinion article on New York Times titled "Trump Has Abused This Power. And He Will Again if He’s Not Stopped."
On Feb 10, Dr. Tedros said that an advance three-person team of the WHO arrived in Beijing for a joint mission to discuss with Chinese officials the agenda and questions. Then, the joint mission of about 10 international experts will soon follow, he said. — Those WHO experts ended up visiting Chinese epicentre for the first time on Feb 24.
On Feb 12, the US targets Russian oil company for helping Venezuela skirt sanctions. The US admin seemingly tried to secure leverage against Russia after noticing something suspicious was up.
On the same day, Trump told Reuters "I hope this outbreak or this event (for the US) may be over in something like April." — Dr. Zhong Nanshan (钟南山), China's top tier SARS-hero doctor, also said "the peak of the virus (for China) should come in mid to late February, followed by a plateau or decrease," adding that his forecast was based on on mathematical modelling and data from recent events and government action.
On Feb 13, Tom Frieden who is a former US CDC chief and currently the head of public health nonprofit Resolve to Save Lives, said:
As countries are trying to develop their own control strategies, they are looking for evidence of whether the situation in China is getting worse or better. [But] We still don't have very basic information. [since the WHO just entered China] We hope that information will be coming out.
On the same day, the CDC reports that the 15th case in the US was confirmed. The patient was a part of group who were under a federal quarantine order at the JBSA-Lackland base because of a recent trip to Hubei Province, China.
By Feb 13, China hasn't accepted the US CDC's offer to send top experts, and they haven't released the "disaggregated" data (specific figures broken out from the overall numbers) even though repeatedly been asked.
On Feb 14, CCP's United Front posted an article on its official website, saying (Eng. text by Google Translation):
Fast! There is no time difference to raise urgently needed materials! Some Overseas Chinese have used their professions in the field of medicine in order to purchase relevant materials Hubei province in short of supply (to send them to China). .... Some Overseas Chinese took advantage of the connection resources, opened green transportation channels through our embassies and consulates abroad, and their related enterprises, and quickly sent large quantities of medical supplies (to China), making this love relay link and cooperation seamless.
On Feb 18, Reuters reports that 3M is on the list of firms eligible for China loans to ease coronavirus crisis.
There is no indication from the list that loans offered will necessarily be sought, or that such firms are in any financial need. The Bank of Shanghai told Reuters it will lend 5.5 billion yuan ($786 million) to 57 firms on its list.
On Feb 21, Xi Jinping writes a thank-you letter to Bill Gates for his foundation’s support to China regarding COVID-19 outbreak.
On Feb 24, China was rumoured on Twitter to delay the phase one trade deal implementation indefinitely which includes the increase of China's purchasing American products & services by at least $200 billion over the next two years.
Also on Feb 24, S&P 500 Index started to drop. Opened with 3225.9 and closed 3128.2. By the Mar 23, it dropped to 2208.9.
Also on Feb 24, China's National Health Commission says the WHO experts have visited Wuhan city for the first time, the locked-down central Chinese city at the epicentre, inspecting two hospitals and a makeshift one at a sports centre.
On Feb 26, IF the picture that has been circulated on Twitter were real, then chief Chen Wei and her team have developed the first batch of COVID-19 vaccine within time frame of a month.
On the same day, the CDC's latest figures displays 59 people in the US who have tested positive for COVID-19.
Also on Feb 26, the Washington Post published an article that says:
.... the WHO said it has repeatedly asked Chinese officials for "disaggregated" data — meaning specific figures broken out from the overall numbers — that could shed light on hospital transmission and help assess the level of risk front-line workers face. "We received disaggregated information at intervals, though not details about health care workers," said Tarik Jasarevic of the WHO. — The comment, in an email on Feb 22 to the Post, was one of the first instances that the WHO had directly addressed shortcomings in China's reporting or handling of the coronavirus crisis.
On Feb 27, after missteps, the CDC says its test kit is ready and the US started to expand testing.
On Feb 28, China transferred more than 80,000 Uighurs to factories used by global brands such as Apple, Nike, & Volkswagen & among others.
Also on Feb 28, the WHO published the official report of the WHO-China joint mission on coronavirus disease 2019. (PDF)
On Feb 29, quoting Caixin media's investigation published on the same day, Lianhe Zaobao, the largest Singapore-based Chinese-language newspaper, published an article reporting the following:
Dr. Li Wenliang said in the interview with Caixin media; [in Dec 2019] another doctor (later turned out to be Dr. Ai Fen) examined and tried to treat a patient who exhibited SARS-like symptoms which akin to influenza resistant to conventional treatment methods. And "the family members who took care of her (the patient) that night also had a fever, and her other daughter also had a fever. This is obviously from person to person" Dr. Li said in the interview."
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On Mar 01, China's State Council super tighten up their already draconian internet law.
On the same day, Princelings published an propaganda called "A Battle Against Epidemic: China Combating COVID-19 in 2020" which compiles numerous state media accounts on the heroic leadership of Xi Jinping, the vital role of the Communist Party, and the superiority of the Chinese system in fighting the virus.
Starting on Mar 03, the US Fed has taken two significant measures to provide monetary stimulus. It's going to be no use as if a group of people with serious means are manipulating the markets to make sure MM will have liquidity concerns when they need it most.
On Mar 04, Xinhua News, China's official state-run press agency posted an article "Be bold: the world should thank China" which states that
If China retaliates against the US at this time, it will also announce strategic control over medical products, and ban exports of said products to the US. ... If China declares today that its drugs are for domestic use only, the US will fall into the hell of new coronavirus epidemic.
On Mar 05, Shanghai Index has recovered the coronavirus loss almost completely.
On Mar 07, Saudi's Ahmed bin Abdulaziz and Muhammad bin Nayef were arrested on the claims of plotting to overthrow King Salman. — Ahmed bin Abdulaziz is known to have very tight investment-interest relationship with Bill Gates, Bill Browder, Blackstone, & BlackRock: One common factor that connects these people is China.
On Mar 08, the Russia–Saudi oil price war has begun. The ostensible reason was simple: China, the biggest importer of oil from Saudi and Russia, was turning back tankers while claiming that the outbreak forced its economy to a standstill.
On Mar 10, the Washington Post published the article saying that the trade group for manufacturers of personal protective equipment urged in 2009 "immediate action" to restock the national stockpile including N95 masks, but it hasn't been replenished since.
On Mar 11, the gentleman at the WHO declares the coronavirus outbreak a "Global Pandemic." He called on governments to change the course of the outbreak by taking "urgent and aggressive action." This was a full twelve days after the organization published the official report regarding the situation in China.
On Mar 13, the US admin declared a National Emergency and announced the plan to release $50 billion in federal resources amid COVID-19.
Also on Mar 13, China's Ministry of Commerce states that China is now the best region for global investment hedging.
On Mar 15, Business Insider reports that Trump tried to poach German scientists working on a coronavirus vaccine and offered cash so it would be exclusive to the US. The problem is the official CureVac (the German company) twitter account, on Mar 16, 2020, tweeted the following:
To make it clear again on coronavirus: CureVac has not received from the US government or related entities an offer before, during and since the Task Force meeting in the White House on March 2. CureVac rejects all allegations from press.
On Mar 16, the fan club of European globalists has published a piece titled, "China and Coronavirus: From Home-Made Disaster to Global Mega-Opportunity." The piece says:
The Chinese method is the only method that has proved successful [in fighting the virus], is a message spread online in China by influencers, including many essentially promoting propaganda. ... it is certainly a message that seems to be resonating with opinion leaders around the world.
On the same day, unlike China that had one epicentre, Wuhan city, the US now overtakes China with most cases reporting multiple epicentres simultaneously.
Also on Mar 16, the US stocks ended sharply lower with the Dow posting its worst point drop in history. But some showed a faint hint of uncertain hope.
On Mar 17, according to an article on Chinese version of Quora, Zhihu, chief Chen Wei and her team with CanSino Biologics officially initiated a Phase-1 clinical trial for COVID-19 vaccine at the Wuhan lab, Hubei China, which Bloomberg News confirmed. — Click HERE, then set its time period as 1 year, and see when the graph has started to move up.
Also on Mar 17, China's state media, China Global TV Network (CGTN), has produced YouTube videos for Middle Eastern audiences to spread the opinion that the US has engineered COVID-19 events.
Also on Mar 17, Al Jazeera reported that the US President has been criticized for repeatedly referring to the coronavirus as the "Chinese Virus" as critics saying Trump is "fueling bigotry."
• China's Xinhua News tweeted "Racism is not the right tool to cover your own incompetence."
• Tucker Carlson asked: "Why would America's media take China's side amid coronavirus pandemic?"
• Also, Mr. Bill Gates: "We should not call this the Chinese virus."
On Mar 19, for the first time, China reports zero local infections.
Also on Mar 19, Al Jazeera published an analysis report, titled "Coronavirus erodes Trump's re-election prospects."
On Mar 22, Bloomberg reports that China's mobile carriers lost 21 million users during this pandemic event. It's said to be the first net decline since starting to report monthly data in 2000.
On Mar 26, EURACTV reports that China cashes in off coronavirus, selling Spain $466 million in supplies. However, Spain returns 9,000 "quick result" test kits to China, because they were deemed substandard. — Especially the sensibility of the test was around 30 percent, when it should be higher than 80 percent.
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On Apr 03, Germany and other governments are bolstering corporate defenses to address worries that coronavirus-weakened companies could be easy prey for bargain hunting by China's state owned businesses.
On Apr 05, New York Times says "Trump Again Promotes Use of Unproven Anti-Malaria Drug (hydroxychloroquine)."
On Apr 06, a Democratic State Rep. Karen Whitsett from Detroit credits hydroxychloroquine and President Trump for "saving her in her battle with the coronavirus."
On Apr 07, the US CDC removed the following part from its website.
Although optimal dosing and duration of hydroxychloroquine for treatment of COVID-19 are unknown, some U.S. clinicians have reported anecdotally different hydroxychloroquine dosing such as: 400mg BID on day one, then daily for 5 days; 400 mg BID on day one, then 200mg BID for 4 days; 600 mg BID on day one, then 400mg daily on days 2-5.
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☞ If there were ever a time for people not to be partisan and tribal, the time has come: We need to be ever vigilant and attentive to all kinds of disinformation & misinformation to see it better as well as to be sharp in our lives. — We really do need to come together.
☞ At first, I was going to draw up a conspiracy theory-oriented list focused on Team-Z, especially Mr. Gates. However, although it's nothing new tbh, recently many chats and discussions seem overflowing with disinformation & misinformation which is, in my opinion, particularly painful at a time like this. Hence, this post became a vanilla list that's just recorded the notable events. — We all are subject to misinformation, miscalculation, and misjudgment. But the clearer the picture becomes the better we can identify Funkspiel.
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Immediate Aftermath pt.2.a
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Feasible Timeline of the Operation
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☞ Go Back to the Short Story.
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submitted by vanillabluesea to conspiracy [link] [comments]

Just 2 more Conspiracy Theories that turned out to be True

(i couldn't post in the previous one , word limit )

1.Big Brother or the Shadow Government

It is also called the “Deep State” by Peter Dale Scott, a professor at the University of California, Berkeley.
A shadow government is a "government-in-waiting" that remains in waiting with the intention of taking control of a government in response to some event. It turned out this was true on 9/11, when it was told to us by our mainstream media. For years, this was ridiculed as a silly, crazy conspiracy theory and, like the others listed here, turned out to be 100% true. It is also called the Continuity of Government.
The Continuity of Government (COG) is the principle of establishing defined procedures that allow a government to continue its essential operations in case of nuclear war or other catastrophic event. Since the end of the cold war, the policies and procedures for the COG have been altered according to realistic threats of that time.
These include but are not limited to a possible coup or overthrow by right wing terrorist groups, a terrorist attack in general, an assassination, and so on. Believe it or not the COG has been in effect since 2001.After 9/11, it went into action.
Now here is the kicker, many of the figures in Iran Contra, the Watergate Scandal, the alleged conspiracy to assassinate Kennedy, and many others listed here are indeed members of the COG. This is its own conspiracy as well.
The Secret Team:
The CIA and Its Allies in Control of the United States and the World is a book written by Air Force Col. L Fletcher Prouty, published in 1973.
From 1955 to 1963 Prouty was the "Focal Point Officer" for contacts between the CIA and the Pentagon on matters relating to military support for "black operations" but he was not assigned to the CIA and was not bound by any oath of secrecy. (From the first page of the 1974 Printing)
It was one of the first tell-all books about the inner workings of the CIA and was an important influence on the Oliver Stone movie JFK. But the main thrust of the book is how the CIA started as a think tank to analyze intelligence gathered from military sources but has grown to the monster it has become. The CIA had no authority to run their own agents or to carry out covert operations but they quickly did both and much more. This book tells about things they actually did and a lot about how the operate. In Prouty's own words, from the 1997 edition of The Secret Team: This is the fundamental game of the Secret Team. They have this power because they control secrecy and secret intelligence and because they have the ability to take advantage of the most modern communications system in the world, of global transportation systems, of quantities of weapons of all kinds, and when needed, the full support of a world-wide U.S. military supporting base structure.
They can use the finest intelligence system in the world, and most importantly, they have been able to operate under the canopy of an assumed, ever-present enemy called "Communism." It will be interesting to see what "enemy" develops in the years ahead. It appears that "UFO's and Aliens" are being primed to fulfill that role for the future.
To top all of this, there is the fact that the CIA, itself, has assumed the right to generate and direct secret operations. "He is not the first to allege that UFOs and Aliens are going to be used as a threat against the world to globalize the planet under One government."
The Report from Iron Mountain
The Report from Iron Mountain is a book, published in 1967 (during the Johnson Administration) by Dial Press, that states that it is the report of a government panel.
According to the report, a 15-member panel, called the Special Study Group, was set up in 1963 to examine what problems would occur if the U.S. entered a state of lasting peace.
They met at an underground nuclear bunker called Iron Mountain (as well as other, worldwide locations) and worked over the next two years. Iron Mountain is where the government has stored the flight 93 evidence from 9/11.A member of the panel, one "John Doe", a professor at a college in the Midwest, decided to release the report to the public. The heavily footnoted report concluded that peace was not in the interest of a stable society, that even if lasting peace, "could be achieved, it would almost certainly not be in the best interests of society to achieve it." War was a part of the economy.
Therefore, it was necessary to conceive a state of war for a stable economy. The government, the group theorized, would not exist without war, and nation states existed in order to wage war. War also served a vital function of diverting collective aggression. They recommended that bodies be created to emulate the economic functions of war.
They also recommended "blood games" and that the government create alternative foes that would scare the people with reports of alien life-forms and out of control pollution.
Another proposal was the reinstitution of slavery.
U.S. News and World Report claimed in its November 20, 1967 issue to have confirmation of the reality of the report from an unnamed government official, who added that when President Johnson read the report, he 'hit the roof' and ordered it to be suppressed for all time.
Additionally, sources were said to have revealed that orders were sent to U.S. embassies, instructing them to emphasize that the book had no relation to U.S. Government policy.
Project Blue Beam is also a common conspiracy theory that alleges that a faked alien landing would be used as a means of scaring the public into whatever global system is suggested. Some researchers suggest the Report from Iron Mountain might be fabricated, others swear it is real.
Bill Moyers, the American journalist and public commentator, has served as White House Press Secretary in the United States President Lyndon B. Johnson Administration from 1965 to 1967. He worked as a news commentator on television for ten years. Moyers has had an extensive involvement with public television, producing documentaries and news journal programs.
He has won numerous awards and honorary degrees. He has become well known as a trenchant critic of the U.S. media. Since 1990, Moyers has been President of the Schumann Center for Media and Democracy. He is considered by many to be a very credible outlet for the truth. He released a documentary titled, The Secret Government, which exposed the inner workings of a secret government much more vast that most people would ever imagine.
Though originally broadcast in 1987, it is even more relevant today. Interviews with respected top military, intelligence, and government insiders reveal both the history and secret objectives of powerful groups in the hidden shadows of our government.
Here is that documentary:
vid
For another powerful, highly revealing documentary on the manipulations of the secret government produced by BBC, click here.
The intrepid BBC team clearly shows how the War on Terror is largely a fabrication.
For those interested in very detailed information on the composition of the shadow or secret government from a less well-known source, take a look at the summary available here.

2. The Federal Reserve Bank

The fundamental promise of a central bank like the Federal Reserve is economic stability.
The theory is that manipulating the value of the currency allows financial booms to go higher, and crashes to be more mild. If growth becomes speculative and unsustainable, the central bank can make the price of money go up and force some deleveraging of risky investments - again, promising to make the crashes more mild.
The period leading up to the American revolution was characterized by increasingly authoritarian legislation from England. Acts passed in 1764 had a particularly harsh effect on the previously robust colonial economy.
The Sugar Act was in effect a tax cut on easily smuggled molasses, and a new tax on commodities that England more directly controlled trade over. The navy would be used in increased capacity to enforce trade laws and collect duties.
Perhaps even more significant than the militarization and expansion of taxes was the Currency Act passed later in the year 1764.
"The colonies suffered a constant shortage of currency with which to conduct trade. There were no gold or silver mines and currency could only be obtained through trade as regulated by Great Britain. Many of the colonies felt no alternative to printing their own paper money in the form of Bills of Credit."
The result was a true free market of currency - each bank competed, exchange rates fluctuated wildly, and merchants were hesitant to accept these notes as payment.
Of course, they didn't have 24-hour digital Forex markets, but I'll hold off opinions on the viability of unregulated currency for another time.
England's response was to seize control of the colonial money supply - forbidding banks, cities, and colony governments from printing their own. This law, passed so soon after the Sugar Act, started to really bring revolutionary tension inside the colonies to a higher level.
American bankers had learned early on that debasing a currency through inflation is a helpful way to pay off perpetual trade deficits - but Britain proved that the buyer of the currency would only take the deal for so long...
Following the (first) American Revolution, the "First Bank of the United States" was chartered to pay off collective war debts, and effectively distribute the cost of the revolution proportionately throughout all of the states. Although the bank had vocal and harsh skeptics, it only controlled about 20% of the nation's money supply.
Compared to today's central bank, it was nothing.
Thomas Jefferson argued vocally against the institution of the bank, mostly citing constitutional concerns and the limitations of government found in the 10th amendment.
There was one additional quote that hints at the deeper structural flaw of a central bank in a supposedly free capitalist economy.
"The existing banks will, without a doubt, enter into arrangements for lending their agency, and the more favorable, as there will be a competition among them for it; whereas the bill delivers us up bound to the national bank, who are free to refuse all arrangement, but on their own terms, and the public not free, on such refusal, to employ any other bank" –Thomas Jefferson.Basically, the existing banks will fight over gaining favor with the central bank - rather than improving their performance relative to a free market.
The profit margins associated with collusion would obviously outweigh the potential profits gained from legitimate business.
The Second Bank of the United States was passed five years after the first bank's charter expired. An early enemy of central banking, President James Madison, was looking for a way to stabilize the currency in 1816. This bank was also quite temporary - it would only stay in operation until 1833 when President Andrew Jackson would end federal deposits at the institution.
The charter expired in 1836 and the private corporation was bankrupt and liquidated by 1841.While the South had been the major opponent of central banking systems, the end of the Civil War allowed for (and also made necessary) the system of national banks that would dominate the next fifty years.
The Office of the Comptroller of the Currency (OCC) says that this post-war period of a unified national currency and system of national banks "worked well." [3] Taxes on state banks were imposed to encourage people to use the national banks - but liquidity problems persisted as the money supply did not match the economic cycles.
Overall, the American economy continued to grow faster than Europe, but the period did not bring economic stability by any stretch of the imagination. Several panics and runs on the bank - and it became a fact of life under this system of competing nationalized banks. In 1873, 1893, 1901, and 1907 significant panics caused a series of bank failures.
The new system wasn't stable at all, in fact, many suspected it was wrought with fraud and manipulation.
The Federal Reserve Bank of Minneapolis is not shy about attributing the causes of the Panic of 1907 to financial manipulation from the existing banking establishment.
"If Knickerbocker Trust would falter, then Congress and the public would lose faith in all trust companies and banks would stand to gain, the bankers reasoned."
In timing with natural economic cycles, major banks including J.P. Morgan and Chase launched an all-out assault on Heinze's Knickerbocker Trust.
Financial institutions on the inside started silently selling off assets in the competitor, and headlines about a few bad loans started making top spots in the newspapers.
The run on Knickerbocker turned into a general panic - and the Federal Government would come to the rescue of its privately owned "National Banks.
"During the Panic of 1907, "Depositors 'run' on the Knickerbocker Bank. J.P. Morgan and James Stillman of First National City Bank (Citibank) act as a "central bank," providing liquidity ... [to stop the bank run] President Theodore Roosevelt provides Morgan with $25 million in government funds ... to control the panic. Morgan, acting as a one-man central bank, decides which firms will fail and which firms will survive."
How did JP Morgan get so powerful that the government would provide them with funding to increase their power? They had key influence with positions inside the Administrations.
They had senators, congressmen, lobbyists, media moguls all working for them.
In 1886, a group of millionaires purchased Jekyll Island and converted it into a winter retreat and hunting ground, the USA's most exclusive club. By 1900, the club's roster represented 1/6th of the world's wealth. Names like Astor, Vanderbilt, Morgan, Pulitzer and Gould filled the club's register. Non- members, regardless of stature, were not allowed. Dignitaries like Winston Churchill and President McKinley were refused admission.
In 1908, the year after a national money panic purportedly created by J. P. Morgan, Congress established, in 1908, a National Monetary Authority. In 1910 another, more secretive, group was formed consisting of the chiefs of major corporations and banks in this country. The group left secretly by rail from Hoboken, New Jersey, and traveled anonymously to the hunting lodge on Jekyll Island.
In fact, the Clubhouse/hotel on the island has two conference rooms named for the "Federal Reserve." The meeting was so secret that none referred to the other by his last name. Why the need for secrecy?
Frank Vanderlip wrote later in the Saturday Evening Post,
"...it would have been fatal to Senator Aldrich's plan to have it known that he was calling on anybody from Wall Street to help him in preparing his bill...I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System."
At Jekyll Island, the true draftsman for the Federal Reserve was Paul Warburg. The plan was simple.
The new central bank could not be called a central bank because America did not want one, so it had to be given a deceptive name. Ostensibly, the bank was to be controlled by Congress, but a majority of its members were to be selected by the private banks that would own its stock.
To keep the public from thinking that the Federal Reserve would be controlled from New York, a system of twelve regional banks was designed. Given the concentration of money and credit in New York, the Federal Reserve Bank of New York controlled the system, making the regional concept initially nothing but a ruse.
The board and chairman were to be selected by the President, but in the words of Colonel Edward House, the board would serve such a term as to "put them out of the power of the President."
The power over the creation of money was to be taken from the people and placed in the hands of private bankers who could expand or contract credit as they felt best suited their needs. Why the opposition to a central bank? Americans at the time knew of the destruction to the economy the European central banks had caused to their respective countries and to countries who became their debtors.
They saw the large- scale government deficit spending and debt creation that occurred in Europe. But European financial moguls didn't rest until the New World was within their orbit. In 1902, Paul Warburg, a friend and associate of the Rothschilds and an expert on European central banking, came to this country as a partner in Kuhn, Loeb and Company.
He married the daughter of Solomon Loeb, one of the founders of the firm. The head of Kuhn, Loeb was Jacob Schiff, whose gift of $20 million in gold to the struggling Russian communists in 1917 no doubt saved their revolution. The Fed controls the banking system in the USA, not the Congress nor the people indirectly (as the Constitution dictates). The U.S. central bank strategy is a product of European banking interests.
Government interventionists got their wish in 1913 with the Federal Reserve (and income tax amendment). Just in time, too, because the nation needed a new source of unlimited cash to finance both sides of WW1 and eventually our own entry to the war.
After the war, with both sides owing us debt through the federal reserve backed banks, the center of finance moved from London to New York. But did the Federal Reserve reign in the money trusts and interlocking directorates? Not by a long shot. If anything, the Federal Reserve granted new powers to the National Banks by permitting overseas branches and new types of banking services.
The greatest gift to the bankers, was a virtually unlimited supply of loans when they experience liquidity problems.
From the early 1920s to 1929, the monetary supply expanded at a rapid pace and the nation experienced wild economic growth. Curiously, however, the number of banks started to decline for the first time in American history. Toward the end of the period, speculation and loose money had propelled asset and equity prices to unreal levels.
The stock market crashed, and as the banks struggled with liquidity problems, the Federal Reserve actually cut the money supply. Without a doubt, this is the greatest financial panic and economic collapse in American history - and it never could have happened on this scale without the Fed's intervention.
The number of banks crashed and a few of the old robber barons' banks managed to swoop in and grab up thousands of competitors for pennies on the dollar.
See:
America - From Freedom to Fascism The Money Masters Monopoly Men (below video):
VID
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US Venezuela Policy is About Oligarchy, Not Democracy

US Venezuela Policy is About Oligarchy, Not Democracy

The proven oil reserves in Venezuela are recognized as the LARGEST in the world, totaling 297 billion barrels.
While ignoring (and even supporting) the atrocities of authoritarian regimes in places like Saudi Arabia, Bahrain and Uzbekistan, US oligarchs have targeted Venezuela for “regime-change” in the name of “democracy”.
Currently, the US is engaging in economic warfare against Venezuela to foment a coup and remove its democratically elected president Nicolás Maduro.
Without providing solid evidence, our corporate-controlled government and mainstream media portray Maduro as a corrupt, repressive, and illegitimate leader with little to no support.

Ask yourself:

Do I ever see officials from the Venezuelan government appear in corporate news shows to tell THEIR side of the story?
What people DO get to comment on Venezuela and what are their credentials and agenda? Are these people essentially public relations agents for the US-orchestrated coup?
Does corporate news provide me with historical background of US imperialism in Venezuela to put these current events in context?

What Corporate-Controlled Media will NOT Tell You

The CIA was involved in the failed coup against Venezuela's popular leader Hugo Chavez in 2002.
Venezuela is not a strictly socialist country; it has a “mixed” economy - not unlike Norway or other Scandinavian countries.
Venezuela is a DEMOCRACY - unlike US-allies Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait.
In 2012, Jimmy Carter went on record saying:
“As a matter of fact, of the 92 elections that we've monitored, I would say the election process in Venezuela is the best in the world”
The opposition to Maduro knew they were going to lose the last election and so boycotted it in attempt to delegitimize the results.
The US actually tried to dissuade Maduro’s opponents from running!
Maduro invited international observers into the country in 2018 to monitor the last election but the opposition asked the UN not to send observers!
More than 80% of the Venezuelan population had not even HEARD of Juan Guaidó before Trump and the US state proclaimed him the “rightful” president.
Maduro’s approval ratings within his country are on par with opposition-controlled National Assembly. According to an October poll by opposition-aligned pollster Datanalisis, Venezuela's National Assembly, of which Juan Guaidó is president, has a disapproval rating of 70%.
Venezuela WANTS to sell its oil to the US – the US is their largest market and refines a majority of their oil.
US companies Chevron Corp, Halliburton, Schlumberger, Baker Hughes and Weatherford International all have operations in Venezuela, and are allowed to continue to engage in transactions and activities with PDVSA and its joint ventures through July 27.
“No State or group of States has the right to intervene, directly or indirectly, for any reason whatever, in the internal or external affairs of any other State. The foregoing principle prohibits not only armed force but also any other form of interference or attempted threat against the personality of the State or against its political, economic, and cultural elements.” Organization of American States Charter

Why is the US Corporatocracy so Keen to Remove Maduro?

While Venezuela’s economy is not a strictly-state-run economy, its oil industry is nationalized and uses its revenues for the benefit of its citizens (especially the poor).
After years of crippling US sanctions Maduro stepped over a crucial line in October when his government announced that Venezuela was abandoning the US dollar and would be make all future transactions on the Venezuelan exchange market in euro.
Saddam Hussein also went off the dollar in favor of the euro in 2003 – we started dropping bombs on him the next month.
A similar decision by the Gadhafi government in Libya (2011) was quickly followed by a devastating US-orchestrated conflict - culminating in Gadhafi's capture by radical Islamists who sodomized him with a bayonet before killing him. Since then, Libya has gone from Africa's wealthiest country to a truly failed-state complete with a slave trade! To make matters worse, after the collapse of the Libyan government, its military arms were smuggled out of that country and into the hands of ISIS fighters in Iraq and Syria - enabling US-orchestrated chaos in those countries.

Who cares what currency a country uses to trade petroleum?

Answer: US oligarchy

The US dollar is central to US world economic domination.
Like all other modern currencies, it is a fiat currency – backed by no real assets to prop up its value.
In lieu of a “gold standard” we know operate on a de-facto “oil-standard”:
"After the collapse of the Bretton Woods gold standard in the early 1970s, the United States struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world's reserve currency and, through this status, the United States enjoys persistent trade deficits and is a global economic hegemony." Investopedia
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence. Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.” Anthony Wile

US Foreign Policy is about Oligarchy Not Democracy

Since World War II, the US has attempted to over-throw the 52 foreign governments. Aside from a handful of exceptions (China, Cuba, Vietnam, etc.), the US has been successful in the vast majority of these attempts.
US foreign policy is not about democracy – it is about exploiting the world’s resources in the interests of a small, ultra-wealthy global elite.
This exploitation benefits a small percentage of people at the top of the economic pyramid while the costs are born by those at the bottom.

US CIA Coup Playbook:

How to Plunder Resources from Foreign Countries While Pretending to Support Democracy
  1. Find a country with resources you want.
  2. Send in an “Economic Hitman” to offer bribes the country’s leader in the form of personally lucrative business deals. If he accepts the deal, the leader will amass a personal fortune in exchange for "privatizing” the resources you wish to extract.
If the leader will not accept your bribes, begin the regime-change process.
3) Engage in economic warfare by imposing crippling sanctions on the country and blame the ensuing shortages on the leader’s “socialist” policies.
4) Work with right-wing allies inside country to fund and organize an “astroturf” opposition group behind a corporate-friendly puppet.
5) Hire thugs inside country to incite unrest and violence against the government in coordination with your opposition group. Use corporate media to publicize the orchestrated outbursts as popular outrage and paint a picture of a “failed state” mired in corruption and chaos.
6) When the government arrests your thugs, decry the response as the brutal repression. Use corporate-owned media to demonize the target government as a despotic regime while praising your puppet opposition as champions of democracy.
7) Work with right-wing military leaders to organize the overthrow the government (offer them the same business deals the current leader refused).
8) If a military-led coup cannot be organized, create a mercenary army to carry out acts of terrorism against the government and its supporters. Portray the mercenaries as “freedom fighters” and their acts of terrorism as a “civil war”.
9) If the target government has popular and military support and is too well-defended for your mercenaries to over-throw: label the country a “rouge state” and wait for the right time to invade. Meanwhile, continue to wear the country’s government and populace down using steps 3 – 8.
10) Escalate the terror campaign within the country to provoke a military response from the country against the US. If they won’t take the bait , fabricate an attack or threat that you can sell to the US population as justification for an invasion.
11) Once the government is removed, set up your puppet regime to provide the illusion of sovereignty. The regime will facilitate and legitimize your appropriation of the country’s resources under the guise of "free" trade.
12) As you continue to extract the country’s resources, provide intelligence and military support to the puppet regime to suppress popular dissent within the country.
13) Use the demise of the former government as yet another example of the impracticality of “socialism.”
What Can I Do?
Call your senators and representatives to voice your opposition to US regime-change efforts in Venezuela.
https://www.commoncause.org/find-your-representative/
Please share this message with others.
Sources included at: https://link.medium.com/8DiA5xzx4T

‘Venezuela’: Media’s One-Word Rebuttal to the Threat of Socialism

ALAN MACLEOD FEBRUARY 8, 2019
A recent Gallup poll (8/13/18) found that a majority of millennials view socialism favorably, preferring it to capitalism. Democratic socialist Bernie Sanders is the most popular politician in the United States, while new leftist Rep. Alexandria Ocasio-Cortez’s (AOC) policies of higher taxes on the wealthy, free healthcare and public college tuition are highly popular—even among Republican voters (FAIR.org,1/23/19).
Alarmed by the growing threat of progressive policies at home, the establishment has found a one-word weapon to deploy against the rising tide: Venezuela. The trick is to attack any political figure or movement even remotely on the left by claiming they wish to turn the country into a “socialist wasteland” (Fox News, 2/2/19) run by a corrupt dictatorship, leaving its people hungry and devastated.
Leading the charge have been Fox News and other conservative outlets. One Fox opinion piece (1/25/19) claimed that Americans should be “absolutely disgusted” by the “fraud” of Bernie Sanders and Democrats like Alexandria Ocasio-Cortez, Elizabeth Warren and Cory Booker, as they “continue to promote a system that is causing mass starvation and the collapse of a country,” warning that is exactly what their failed socialist policies would bring to the US. (Back in the real world, while Sanders and Ocasio-Cortez identify as socialists, Warren is a self-described capitalist, and Booker is noted for his ties to Wall Street, whose support for his presidential bid he has reportedly been soliciting.) A second Fox Newsarticle (1/27/19) continues in the same vein, warning that, “At the heart of Venezuela’s collapse is a laundry list of socialist policies that have decimated its economy.”
The Wall Street Journal (1/28/19) describes calls for negotiations in Venezuela as “siding with the dictator.”
In an article entitled “Bernie Sanders, Jeremy Corbyn and the Starving Children of Venezuela,” the Washington Examiner (6/15/17) warned its readers to “beware the socialist utopia,” describing it as a dystopia where children go hungry thanks to socialism. The Wall Street Journal (1/28/19) recently condemned Sanders for his support of a “dictator,” despite the fact Bernie has strongly criticized Venezuelan President Nicolás Maduro, and dismissed Maduro’s predecessor, Hugo Chavez, as a “dead Communist dictator” (Reuters, 6/1/16).
More supposedly centrist publications have continued this line of attack. The New York Times’ Bret Stephens (1/25/19) argued: “Venezuela is a socialist catastrophe. In the age of AOC, the lesson must be learned again”—namely, that “socialism never works,” as “20 years of socialism” has led to “the ruin of a nation.” The Miami Herald(2/1/19) cast shame on Sanders and AOC for arguing for socialism in the face of such overwhelming evidence against it, describing the left’s refusal to back self-appointed president Juan Guaidó, someone whom less than 20 percent of Venezuelans had even heard of, let alone voted for, as “morally repugnant.”
This useful weapon to be used against the left can only be sustained by withholding a great number of key facts—chief among them, the US role in Venezuela’s devastation. US sanctions, according to the Venezuelan opposition’s economics czar, are responsible for a halving of the country’s oil output (FAIR.org, 12/17/18). The UN Human Rights Council has formally condemned the US and discussed reparations to be paid, with one UN special rapporteur describing Trump’s sanctions as a possible “crime against humanity” (London Independent, 1/26/19). This has not been reported by any the New York Times, Washington Post, CNN or any other national US “resistance” news outlet, which have been only too quick to support Trump’s regime change plans (FAIR.org, 1/25/19).
Likewise, the local US-backed opposition’s role in the economic crisis is barely mentioned. The opposition, which controls much of the country’s food supply, has officially accepted responsibility for conducting an “economic war” by withholding food and other key goods.
For example, the monolithic Empresas Polar controls the majority of the flour production and distribution crucial for making arepa cornbread, Venezuela’s staple food. Polar’s chair is Leopoldo Lopez, national coordinator of Juan Guaidó’s Popular Will party, while its president is Lorenzo Mendoza, who considered running for president against Maduro in the 2018 elections that caused pandemonium in the media (FAIR.org, 5/23/18).
Conspicuously, it’s the products that Polar has a near-monopoly in that are often in shortest supply. This is hardly a secret, but never mentioned in the copious stories (CNN, 5/14/14, Bloomberg, 3/16/17, Washington Post, 5/22/17, NPR, 4/7/17) focusing on bread lines in the country.
Also rarely commented on was the fact that multiple international election observer missions declared the 2018 elections free and fair, and that Venezuelan government spending as a proportion of GDP (often considered a barometer of socialism) is actually lower than the US’s, and far lower than most of Europe’s, according to the conservative Heritage Foundation.
The London Daily Express (2/3/19) demonstrates that redbaiting works equally well on either side of the Atlantic.
Regardless of these bothersome facts, the media has continued to present Venezuela’s supposedly socialist dictatorship as solely responsible for its crisis as a warning to any progressives who get the wrong idea. So useful is this tool that it is being used to attack progressive movements around the world. The Daily Express (2/3/19) and Daily Mail (2/3/19) condemned UK Labour Party leader Jeremy Corbyn for his “defense” of a “dictator,” while the Daily Telegraph(2/3/19) warned that the catastrophe of Venezuela is Labour’s blueprint for Britain. Meanwhile, the Greek leftist party Syriza’s support for Maduro (the official position of three-quarters of UN member states) was condemned as “shameful” (London Independent, 1/29/19).
“Venezuela” is also used as a one-word response to shut down debate and counter any progressive idea or thought. While the panel on ABC’s The View (7/23/18) discussed progressive legislation like Medicare for All and immigration reform, conservative regular Meghan McCain responding by invoking Venezuela: “They’re starving to death” she explained, leaving the other panelists bemused.
President Trump has also used it. In response to criticism from Senator Elizabeth Warren over his “Pocahontas” jibe, he replied that she would “make our country into Venezuela” (Reuters, 10/15/18).
The weapon’s effectiveness can only be sustained through a media in lockstep with the government’s regime-change goals. That the media is fixated on the travails of a relatively small and unimportant country in America’s “backyard,” and that the picture of Venezuela is so shallow, is not a mistake. Rather, the simplistic narrative of a socialist dictatorship starving its own people provides great utility as a weapon for the establishment to beat back the domestic “threat” of socialism, by associating movements and figures such as Bernie Sanders, Alexandria Ocasio-Cortez and Jeremy Corbyn with an evil caricature they have carefully crafted.

Corporate Propaganda Blitz Against Venezuela’s Elected President: MSM Will Not Let Facts Interfere With Coup Agenda

Facts Don’t Interfere With Propaganda Blitz Against Venezuela’s Elected President Joe Emersberger
Guaidó, anointed by Trump and a new Iraq-style Coalition of the Willing, did not even run in Venezuela’s May 2018 presidential election. In fact, shortly before the election, Guaidó was not even mentioned by the opposition-aligned pollster Datanálisis when it published approval ratings of various prominent opposition leaders. Henri Falcón, who actually did run in the election (defying US threats against him) was claimed by the pollster to basically be in a statistical tie for most popular among them. It is remarkable to see the Western media dismiss this election as “fraudulent,” without even attempting to show that it was “stolen“ from Falcón. Perhaps that’s because it so clearly wasn’t stolen.
Graph: Approval Ratings of Main Venezuelan Leaders Nov 2016 - July 2018 Data from the opposition-aligned pollsters in Venezuela (via Torino Capital) indicates that Henri Falcón was the most popular of the major opposition figures at the time of the May 2018 presidential election. Nicolás Maduro won the election due to widespread opposition boycotting and votes drawn by another opposition candidate, Javier Bertucci.
The constitutional argument that Trump and his accomplices have used to “recognize” Guaidó rests on the preposterous claim that Maduro has “abandoned” the presidency by soundly beating Falcón in the election. Caracas-based journalist Lucas Koerner took apart that argument in more detail.
What about the McClatchy-owned Miami Herald's claim that Maduro “continues to reject international aid”? In November 2018, following a public appeal by Maduro, the UN did authorize emergency aid for Venezuela. It was even reported by Reuters (11/26/18), whose headlines have often broadcast the news agency’s contempt for Maduro’s government.
It’s not unusual for Western media to ignore facts they have themselves reported when a major “propaganda blitz” by Washington is underway against a government. For example, it was generally reported accurately in 1998 that UN weapons inspectors were withdrawn from Iraq ahead of air strikes ordered by Bill Clinton, not expelled by Iraq’s government. But by 2002, it became a staple of pro-war propaganda that Iraq had expelled weapons inspectors (Extra! Update, 10/02).
And, incidentally, when a Venezuelan NGO requested aid from the UN-linked Global Fund in 2017, it was turned down. Setting aside how effective foreign aid is at all (the example of Haiti hardly makes a great case for it), it is supposed to be distributed based on relative need, not based on how badly the US government wants somebody overthrown.
But the potential for “aid” to alleviate Venezuela’s crisis is negligible compared to the destructive impact of US economic sanctions. Near the end of the Miami Herald article, author Jim Wyss cited an estimate from the thoroughly demonized Venezuelan government that US sanctions have cost it $30 billion, with no time period specified for that estimate. Again, this calls to mind the run-up to the Iraq invasion, when completely factual statements that Iraq had no WMDs were attributed to the discredited Iraqi government. Quoting Iraqi denials supposedly balanced the lies spread in the media by US officials like John Bolton, who now leads the charge to overthrow Maduro. Wyss could have cited economists independent of the Maduro government on the impact of US sanctions—like US economist Mark Weisbrot, or the emphatically anti-Maduro Venezuelan economist Francisco Rodríguez.
Illegal US sanctions were first imposed in 2015 under a fraudulent “state of emergency” declared by Obama, and subsequently extended by Trump. The revenue lost to Venezuela’s government due to US economic sanctions since August 2017, when the impact became very easy to quantify, is by now well over $6 billion. That’s enormous in an economy that was only able to import about $11 billion of goods in 2018, and needs about $2 billion per year in medicines. Trump’s “recognition” of Guaidó as “interim president” was the pretext for making the already devastating sanctions much worse. Last month, Francisco Rodríguez revised his projection for the change in Venezuela’s real GDP in 2019, from an 11 percent contraction to 26 percent, after the intensified sanctions were announced.
The $20 million in US “aid” that Wyss is outraged Maduro won’t let in is a rounding error compared to the billions already lost from Trump’s sanctions.
Former US Ambassador to Venezuela William Brownfield, who pressed for more sanctions on Venezuela, dispensed with the standard “humanitarian” cover that US officials have offered for them (Intercept, 2/10/19):
And if we can do something that will bring that end quicker, we probably should do it, but we should do it understanding that it’s going to have an impact on millions and millions of people who are already having great difficulty finding enough to eat, getting themselves cured when they get sick, or finding clothes to put on their children before they go off to school. We don’t get to do this and pretend as though it has no impact there. We have to make the hard decision—the desired outcome justifies this fairly severe punishment.
How does this gruesome candor get missed by reporters like Wyss, and go unreported in his article?
Speaking of “severe punishment,” if the names John Bolton and Elliott Abrams don’t immediately call to mind the punishment they should be receiving for crimes against humanity, it illustrates how well the Western propaganda system functions. Bolton, a prime facilitator of the Iraq War, recently suggested that Maduro could be sent to a US-run torture camp in Cuba. Abrams played a key role in keeping US support flowing to mass murderers and torturers in Central America during the 1980s. Also significant that Abrams, brought in by Trump to help oust Maduro, used “humanitarian aid” as cover to supply weapons to the US-backed Contra terrorists in Nicaragua.
In the Miami Herald article, the use of US “aid” for military purposes is presented as another allegation made by the vilified Venezuelan president: “Maduro has repeatedly said the aid is cover for a military invasion and has ordered his armed forces not to let it in, even as food and medicine shortages sweep the country.”
Venezuela Accuses U.S. of Secretly Shipping Arms After Weapons Found on Plane with Possible CIA Ties | Democracy Now!
Calling for international aid and being democratically elected will do as little to protect Maduro’s government from US aggression as being disarmed of WMD did to prevent Iraq from being invaded—unless there is much more pushback from the US public against a lethal propaganda system.

When Is a Democracy not a Democracy? When It’s Venezuela and the US is Pushing Regime Change. Venezuela has as much right to call itself a democracy as does the United States. Until that is understood by enough people, the Trump administration will continue to devastate Venezuela’s economy with illegal sanctions and push it towards civil war.
Suggested Reading:
UN Rapporteur: US Sanctions Cause Death in Venezuela
Guaido is playing it fast and loose with the Bolivarian Constitution to justify a dictatorship
Trump’s Economic Sanctions Have Cost Venezuela About $6bn Since August 2017
How could Venezuela's president 'steal' the 2018 election from an unknown who didn't run?
In other news...
The Largest Protest Ever Was 15 Years Ago. The Iraq War Isn’t Over. What Happened?
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Trump Didn’t Kill the Global Trade System. He Split It in Two.

This article is taken from the Wall Street Journal written about nine months ago and sits behind a a paywall, so I decided to copy and paste it here. This article explains Trump's policies toward global trade and what has actually happened so far. I think the article does a decent job of explaining the Trade War. While alot has happenedsince the article was written, I still think its relevant.
However, what is lacking in the article, like many articles on the trade war, is it doesn't really explain the history of US trade policy, the laws that the US administration is using to place tariffs on China and the official justification for the US President in enacting tariffs against China. In my analysis I will cover those points.

SUMMARY

When Trump entered the White House people feared he would dismantle the global system the US and its allies had built over the last 75 years, but he hasn't. He has realign into two systems. One between the US and its allies which looks similar to the one built since the 1980s with a few of quota and tariffs. As the article points out
Today, Korus and Nafta have been replaced by updated agreements(one not yet ratified) that look much like the originals. South Korea accepted quotas on steel. Mexico and Canada agreed to higher wages, North American content requirements and quotas for autos. Furthermore, the article points out Douglas Irwin, an economist and trade historian at Dartmouth College, calls these results the “status quo with Trumpian tweaks: a little more managed trade sprinkled about for favored industries. It’s not good, but it’s not the destruction of the system.” Mr. Trump’s actions so far affect only 12% of U.S. imports, according to Chad Bown of the Peterson Institute for International Economics. In 1984, 21% of imports were covered by similar restraints, many imposed by Mr. Reagan, such as on cars, steel, motorcycles and clothing. Protectionist instincts go so far in the US, there are strong lobby groups for both protectionist and freetrade in the US.
The second reflects a emerging rivalry between the US and China. Undo some of the integration that followed China accession to the WTO. Two questions 1) How far is the US willing to decouple with China 2) Can it persuade allies to join.
The second is going to be difficult because China's economic ties are greater than they were between the Soviets, and China isn't waging an ideological struggle. Trump lacks Reagan commitment to alliance and free trade. The status quo with China is crumbling Dan Sullivan, a Republican senator from Alaska, personifies these broader forces reshaping the U.S. approach to the world. When Mr. Xi visited the U.S. in 2015, Mr. Sullivan urged his colleagues to pay more attention to China’s rise. On the Senate floor, he quoted the political scientist Graham Allison: “War between the U.S. and China is more likely than recognized at the moment.” Last spring, Mr. Sullivan went to China and met officials including Vice President Wang Qishan. They seemed to think tensions with the U.S. will fade after Mr. Trump leaves the scene, Mr. Sullivan recalled. “I just said, ‘You are completely misreading this.’” The mistrust, he told them, is bipartisan, and will outlast Mr. Trump. both Bush II and Obama tried to change dialogue and engagement, but by the end of his term, Obama was questioning the approach. Trump has declared engagement. “We don’t like it when our allies steal our ideas either, but it’s a much less dangerous situation,” said Derek Scissors, a China expert at the American Enterprise Institute whose views align with the administration’s more hawkish officials. “We’re not worried about the war-fighting capability of Japan and Korea because they’re our friends.”
The article also points out unlike George Kennan in 1946 who made a case for containing the Soviet Union, the US hasn't explicitly made a case for containing the Soviets, Trump's administration hasn't, because as the the article explains its divided Michael Pillsbury a Hudson Institute scholar close to the Trump team, see 3 scenarios
Pillsbury thinks the third is most likely to happen, even though the administration hasn't said that it has adopted that policy. The US is stepping efforts to draw in other trading partners. The US, EU and Japan have launched a WTO effort to crack down on domestic subsidies and technology transfers requirement. US and Domestic concerns with prompted some countries to restrict Huawei. The US is also seeking to walloff China from other trade deals. However, there are risk with this strategy

ARTICLE

Trump Didn’t Kill the Global Trade System. He Split It in Two.

INTRODUCTION

My main criticism of this article is it tries like the vast majority of articles to fit US trade actions in the larger context of US geopolitical strategy. Even the author isn't certain "The first goes to the heart of Mr. Trump’s goal. If his aim is to hold back China’s advance, economists predict he will fail.". If you try to treat the trade "war" and US geopolitical strategy toward China as one, you will find yourself quickly frustrated and confused. If you treat them separately with their different set of stakeholders and histories, were they intersect with regards to China, but diverge. During the Cold War, trade policy toward the Soviet Union and Eastern Bloc was subordinated to geopolitical concerns. For Trump, the trade issues are more important than geopolitical strategy. His protectionist trade rhetoric has been fairly consistent since 1980s. In his administration, the top cabinet members holding economic portfolios, those of Commerce, Treasury and US Trade Representative are the same people he picked when he first took office. The Director of the Economic Council has changed hands once, its role isn't as important as the National Security Advisor. While State, Defense, CIA, Homeland Security, UN Ambassador, National Security Advisor have changed hands at least once. Only the Director of National Intelligence hasn't changed.
International Trade makes up 1/4 of the US economy, and like national security its primarily the responsibility of the Federal government. States in the US don't implement their own tariffs. If you add the impact of Treasury policy and how it relates to capital flows in and out of the US, the amounts easily exceed the size of the US economy. Furthermore, because of US Dollar role as the reserve currency and US control of over global system the impact of Treasury are global. Trade policy and investment flows runs through two federal departments Commerce and Treasury and for trade also USTR. Defense spending makes up 3.3% of GDP, and if you add in related homeland security its at most 4%. Why would anyone assume that these two realms be integrated let alone trade policy subordinate to whims of a national security bureaucracy in most instances? With North Korea or Iran, trade and investment subordinate themselves to national security, because to Treasury and Commerce bureaucrats and their affiliated interest groups, Iran and the DPRK are well, economic midgets, but China is a different matter.
The analysis will be divided into four sections. The first will be to provide a brief overview of US trade policy since 1914. The second section will discuss why the US is going after China on trade issues, and why the US has resorted using a bilateral approach as opposed to going through the WTO. The third section we will talk about how relations with China is hashed out in the US.
The reason why I submitted this article, because there aren't many post trying to explain US-China Trade War from a trade perspective. Here is a post titled "What is the Reasons for America's Trade War with China, and not one person mentioned Article 301 or China's WTO Commitments. You get numerous post saying that Huawei is at heart of the trade war. Its fine, but if you don't know what was inside the USTR Investigative report that lead to the tariffs. its like skipping dinner and only having dessert When the US President, Donald J Trump, says he wants to negotiate a better trade deal with other countries, and has been going on about for the last 35 years, longer than many of you have been alive, why do people think that the key issues with China aren't primarily about trade at the moment.

OVERVIEW OF THE UNITED STATES TRADE ORIENTATION

Before 1940s, the US could be categorized as a free market protectionist economy. For many this may seem like oxymoron, how can an economy be free market and protectionist? In 1913, government spending made up about 7.5% of US GDP, in the UK it was 13%, and for Germany 18% (Public Spending in the 20th Century A Global Perspective: Ludger Schuknecht and Vito Tanzi - 2000). UK had virtual zero tariffs, while for manufactured goods in France it was 20%, 13% Germany, 9% Belgium and 4% Netherlands. For raw materials and agricultural products, it was almost zero. In contrast, for the likes of United States, Russia and Japan it was 44%, 84% and 30% respectively. Even though in 1900 United States was an economic powerhouse along with Germany, manufactured exports only made up 30% of exports, and the US government saw tariffs as exclusively a domestic policy matter and didn't see tariffs as something to be negotiated with other nations. The US didn't have the large constituency to push the government for lower tariffs abroad for their exports like in Britain in the 1830-40s (Reluctant Partners: A History of Multilateral Trade Cooperation, 1850-2000).
The Underwood Tariffs Act of 1913 which legislated the income tax, dropped the tariffs to 1850 levels levels.Until 16th amendment was ratified in 1913 making income tax legal, all US federal revenue came from excise and tariffs. In contrast before 1914, about 50% of UK revenue came from income taxes. The reason for US reluctance to introduced income tax was ideological and the United State's relative weak government compared to those in Europe. After the First World War, the US introduced the Emergency Tariff Act of 1921, than the Fordney–McCumber Tariff of 1922 followed by a Smoot-Hawley Act of 1930. Contrary to popular opinion, the Smoot-Hawley Act of 1930 had a small negative impact on the economy, since imports and exports played a small part of the US economy, and the tariffs were lower than the average that existed from 1850-1914.
Immediately after the Second World War, when the US economy was the only industrialized economy left standing, the economic focus was on rehabilitation and monetary stability. There was no grandiose and ideological design. Bretton Woods system linked the US dollar to gold to create monetary stability, and to avoid competitive devaluation and tariffs that plagued the world economy after Britain took itself off the gold in 1931. The US$ was the natural choice, because in 1944 2/3 of the world's gold was in the US. One reason why the Marshall Plan was created was to alleviate the chronic deficits Europeans countries had with the US between 1945-50. It was to rebuild their economies so they could start exports good to the US. Even before it was full implemented in 1959, it was already facing problems, the trade surpluses that the US was running in the 1940s, turned to deficits as European and Japanese economies recovered. By 1959, Federal Reserves foreign liabilities had already exceeded its gold reserves. There were fears of a run on the US gold supply and arbitrage. A secondary policy of the Bretton woods system was curbs on capital outflows to reduce speculation on currency pegs, and this had a negative impact on foreign investment until it was abandoned in 1971. It wasn't until the 1980s, where foreign investment recovered to levels prior to 1914. Factoring out the big spike in global oil prices as a result of the OPEC cartel, it most likely wasn't until the mid-1990s that exports as a % of GDP had reached 1914 levels.
Until the 1980s, the US record regarding free trade and markets was mediocre. The impetus to remove trade barriers in Europe after the Second World War was driven by the Europeans themselves. The EEC already had a custom union in 1968, Canada and the US have yet to even discuss implementing one. Even with Canada it took the US over 50 years to get a Free Trade Agreement. NAFTA was inspired by the success of the EEC. NAFTA was very much an elite driven project. If the Americans put the NAFTA to a referendum like the British did with the EEC in the seventies, it most likely wouldn't pass. People often look at segregation in the US South as a political issue, but it was economic issue as well. How could the US preach free trade, when it didn't have free trade in its own country. Segregation was a internal non-tariff barrier. In the first election after the end of the Cold War in 1992, Ross Perot' based most of independent run for the Presidency on opposition to NAFTA. He won 19% of the vote. Like Ross Perot before him, Donald Trump is not the exception in how America has handled tariffs since the founding of the Republic, but more the norm.
The embrace of free trade by the business and political elite can be attributed to two events. After the end of Bretton Woods in 1971, a strong vested interest in the US in the form of multinationals and Wall Street emerged advocating for removal of tariffs and more importantly the removal of restrictions on free flow of capital, whether direct foreign investment in portfolio investment. However, the political class embrace of free trade and capital only really took off after the collapse of the Soviet Union propelled by Cold War triumphalism.
As mentioned by the article, the US is reverting back to a pre-WTO relations with China. As Robert Lighthizer said in speech in 2000
I guess my prescription, really, is to move back to more of a negotiating kind of a settlement. Return to WTO and what it really was meant to be. Something where you have somebody make a decision but have it not be binding.
The US is using financial and legal instruments developed during the Cold War like its extradition treaties (with Canada and Europe), and Section 301. Here is a very good recent article about enforcement commitment that China will make.‘Painful’ enforcement ahead for China if trade war deal is reached with US insisting on unilateral terms
NOTE: It is very difficult to talk about US-China trade war without a basic knowledge of global economic history since 1914. What a lot of people do is politicize or subordinate the economic history to the political. Some commentators think US power was just handed to them after the Second World War, when the US was the only industrialized economy left standing. The dominant position of the US was temporary and in reality its like having 10 tonnes of Gold sitting in your house, it doesn't automatically translate to influence. The US from 1945-1989 was slowly and gradually build her influence in the non-Communist world. For example, US influence in Canada in the 1960s wasn't as strong as it is now. Only 50% of Canadian exports went to the US in 1960s vs 80% at the present moment.

BASIS OF THE US TRADE DISCUSSION WITH CHINA

According to preliminary agreement between China and the US based on unnamed sources in the Wall Street Journal article US, China close in on Trade Deal. In this article it divides the deal in two sections. The first aspects have largely to do with deficits and is political.
As part of a deal, China is pledging to help level the playing field, including speeding up the timetable for removing foreign-ownership limitations on car ventures and reducing tariffs on imported vehicles to below the current auto tariff of 15%. Beijing would also step up purchases of U.S. goods—a tactic designed to appeal to President Trump, who campaigned on closing the bilateral trade deficit with China. One of the sweeteners would be an $18 billion natural-gas purchase from Cheniere Energy Inc., people familiar with the transaction said.
The second part will involve the following.
  1. Commitment Regarding Industrial Policy
  2. Provisions to protect IP
  3. Mechanism which complaints by US companies can be addressed
  4. Bilateral meetings adjudicate disputes. If talks don't produce agreement than US can raise tariffs unilaterally
This grouping of conditions is similar to the points filled under the 301 investigation which serve the basis for initiating the tariffs. I have been reading some sources that say this discussion on this second group of broader issues could only be finalized later
The official justifications for placing the tariffs on Chinese goods is found under the March 2018 investigation submitted by the office of the President to Congress titled FINDINGS OF THE INVESTIGATION INTO CHINA’S ACTS, POLICIES, AND PRACTICES RELATED TO TECHNOLOGY TRANSFER, INTELLECTUAL PROPERTY, AND INNOVATION UNDER SECTION 301 OF THE TRADE ACT OF 1974. From this investigation the United States Trade Representative (USTR) place US Tariffs on Chinese goods as per Section 301 of the Trade Act of 1974. Here is a press release by the USTR listing the reasons for placing tariffs, and the key section from the press release. Specifically, the Section 301 investigation revealed:
In the bigger context of trade relations between US and China, China is not honoring its WTO commitments, and the USTR issued its yearly report to Congress in early February about the status of China compliance with its WTO commitments. The points that served as a basis for applying Section 301, also deviate from her commitments as Clinton's Trade Representative Charlene Barshefsky paving the way for a trade war. Barshefsky argues that China's back sliding was happening as early as 2006-07, and believes the trade war could have been avoided has those commitments been enforced by previous administrations.
I will provide a brief overview of WTO membership and China's process of getting into the WTO.
WTO members can be divided into two groups, first are countries that joined in 1995-97, and were members of GATT, than there are the second group that joined after 1997. China joined in 2001. There is an argument that when China joined in 2001, she faced more stringent conditions than other developing countries that joined before, because the vast majority of developing countries were members of GATT, and were admitted to the WTO based on that previous membership in GATT. Here is Brookings Institute article published in 2001 titled "Issues in China’s WTO Accession"
This question is all the more puzzling because the scope and depth of demands placed on entrants into the formal international trading system have increased substantially since the formal conclusion of the Uruguay Round of trade negotiations in 1994, which expanded the agenda considerably by covering many services, agriculture, intellectual property, and certain aspects of foreign direct investment. Since 1994, the international community has added agreements covering information technology, basic telecommunications services, and financial services. WTO membership now entails liberalization of a much broader range of domestic economic activity, including areas that traditionally have been regarded by most countries as among the most sensitive, than was required of countries entering the WTO’s predecessor organization the GATT.
The terms of China’s protocol of accession to the World Trade Organization reflect the developments just described and more. China’s market access commitments are much more far-reaching than those that governed the accession of countries only a decade ago. And, as a condition for membership, China was required to make protocol commitments that substantially exceed those made by any other member of the World Trade Organization, including those that have joined since 1995. The broader and deeper commitments China has made inevitably will entail substantial short-term economic costs.
What are the WTO commitments Barshefsky goes on about? When countries join the WTO, particularly those countries that weren't members of GATT and joined after 1997, they have to work toward fulfilling certain commitments. There are 4 key documents when countries make an accession to WTO membership, the working party report, the accession protocol paper, the goods schedule and service schedule.
In the working party report as part of the conclusion which specifies the commitment of each member country what they will do in areas that aren't compliant with WTO regulations on the date they joined. The problem there is no good enforcement mechanism for other members to force China to comply with these commitments. And WTO punishments are weak.
Here is the commitment paragraph for China
"The Working Party took note of the explanations and statements of China concerning its foreign trade regime, as reflected in this Report. The Working Party took note of the commitments given by China in relation to certain specific matters which are reproduced in paragraphs 18-19, 22-23, 35-36, 40, 42, 46-47, 49, 60, 62, 64, 68, 70, 73, 75, 78-79, 83-84, 86, 91-93, 96, 100-103, 107, 111, 115-117, 119-120, 122-123, 126-132, 136, 138, 140, 143, 145, 146, 148, 152, 154, 157, 162, 165, 167-168, 170-174, 177-178, 180, 182, 184-185, 187, 190-197, 199-200, 203-207, 210, 212-213, 215, 217, 222-223, 225, 227-228, 231-235, 238, 240-242, 252, 256, 259, 263, 265, 270, 275, 284, 286, 288, 291, 292, 296, 299, 302, 304-305, 307-310, 312-318, 320, 322, 331-334, 336, 339 and 341 of this Report and noted that these commitments are incorporated in paragraph 1.2 of the Draft Protocol. "
This is a tool by the WTO that list all the WTO commitment of each country in the working paper. In the goods and service schedule they have commitments for particular sectors. Here is the a press release by the WTO in September 2001, after successfully concluding talks for accession, and brief summary of key areas in which China hasn't fulfilled her commitments. Most of the commitments made by China were made to address its legacy as a non-market economy and involvement of state owned enterprises. In my opinion, I think the US government and investors grew increasingly frustrated with China, after 2007 not just because of China's back sliding, but relative to other countries who joined after 1997 like Vietnam, another non-market Leninist dictatorship. When comparing China's commitments to the WTO its best to compare her progress with those that joined after 1997, which were mostly ex-Soviet Republics.
NOTE: The Chinese media have for two decades compared any time the US has talked about China's currency manipulation or any other issue as a pretext for imposing tariffs on China to the Plaza Accords. I am very sure people will raise it here. My criticism of this view is fourfold. First, the US targeted not just Japan, but France, Britain and the UK as well. Secondly, the causes of the Japan lost decade were due largely to internal factors. Thirdly, Japan, UK, Britain and France in the 1980s, the Yuan isn't undervalued today. Lastly, in the USTR investigation, its China's practices that are the concern, not so much the trade deficit.

REASONS FOR TRUMPS UNILATERAL APPROACH

I feel that people shouldn't dismiss Trump's unilateral approach toward China for several reasons.
  1. The multilateral approach won't work in many issues such as the trade deficit, commercial espionage and intellectual property, because US and her allies have different interest with regard to these issues. Germany and Japan and trade surpluses with China, while the US runs a deficit. In order to reach a consensus means the West has to compromise among themselves, and the end result if the type of toothless resolutions you commonly find in ASEAN regarding the SCS. Does America want to "compromise" its interest to appease a politician like Justin Trudeau? Not to mention opposition from domestic interest. TPP was opposed by both Clinton and Trump during the election.
  2. You can't launch a geopolitical front against China using a newly formed trade block like the TPP. Some of the existing TPP members are in economic groups with China, like Malaysia and Australia.
  3. China has joined a multitude of international bodies, and at least in trade, these bodies haven't changed its behavior.
  4. Dealing with China, its a no win situation whether you use a tough multilateral / unilateral approach. If the US endorse a tough unilateral approach gives the impression that the US is acting like the British during the Opium War. If you take a concerted Western approach you are accused of acting like the 8 Powers Alliance in 1900.
  5. Trump was elected to deal with China which he and his supporters believe was responsible for the loss of millions manufacturing jobs when China joined the WTO in 2001. It is estimate the US lost 6 Million jobs, about 1/4 of US manufacturing Jobs. This has been subsequently advanced by some economists. The ball got rolling when Bill Clinton decided to grant China Most Favored Nation status in 1999, just a decade after Tiananmen.
  6. China hasn't dealt with issues like IP protection, market access, subsidies to state own companies and state funded industrial spying.
To his credit, Trump has said his aim was not to overthrow authoritarian governments, and that even applies to the likes of Iran. The Arab spring scared Russia and China, because the US for a brief moment placed the spread of democracy over its security interest.

UNDERSTANDING HOW THE US MAKES DECISIONS REGARDING CHINA

At this moment, China or the trade war isn't an area of great concern for the American public, among international issues it ranks lower than international terrorism, North Korea and Iran's nuclear program.
According to the survey, 39 percent of the country views China’s growing power as a “critical threat” to Americans. That ranked it only eighth among 12 potential threats listed and placed China well behind the perceived threats from international terrorism (66 percent), North Korea’s nuclear program (59 percent) and Iran’s nuclear program (52 percent). It’s also considerably lower than when the same question was asked during the 1990s, when more than half of those polled listed China as a critical threat. That broadly tracks with a recent poll from the Pew Research Center that found concern about U.S.-China economic issues had decreased since 2012.
In looking at how US conducts relations foreign policy with China, we should look at it from the three areas of most concern - economic, national security and ideology. Each sphere has their interest groups, and sometimes groups can occupy two spheres at once. Security experts are concerned with some aspects of China's economic actions like IP theft and industrial policy (China 2025), because they are related to security. In these sphere there are your hawks and dove. And each sphere is dominated by certain interest groups. That is why US policy toward China can often appear contradictory. You have Trump want to reduce the trade deficit, but security experts advocating for restrictions on dual use technology who are buttressed by people who want export restrictions on China, as a way of getting market access.
Right now the economic concerns are most dominant, and the hawks seem to dominate. The economic hawks traditionally have been domestic manufacturing companies and economic nationalist. In reality the hawks aren't dominant, but the groups like US Companies with large investment in China and Wall Street are no longer defending China, and some have turned hawkish against China. These US companies are the main conduit in which China's lobby Congress, since China only spends 50% of what Taiwan spends lobbying Congress.
THE ANGLO SAXON WORLD AND CHINA
I don't think many Chinese even those that speak English, have a good understanding Anglo-Saxon society mindset. Anglo Saxons countries, whether US, UK, Canada, Australia, New Zealand and Ireland are commerce driven society governed by sanctity of contracts. The English great philosophical contributions to Western philosophy have primarily to do with economics and politics like Adam Smith, John Locke, David Hume and Thomas Hobbes. This contrast with the French and Germans. Politics in the UK and to a lesser extent the US, is centered around economics, while in Mainland Europe its religion. When the Americans revolted against the British Empire in 1776, the initial source of the grievances were taxes.
Outside of East Asia, the rest of the World's relationship with China was largely commercial, and for United States, being an Anglosaxon country, even more so. In Southeast Asia, Chinese aren't known for high culture, but for trade and commerce. Outside Vietnam, most of Chinese loans words in Southeast Asian languages involve either food or money. The influence is akin to Yiddish in English.
Some people point to the Mao and Nixon meeting as great strategic breakthrough and symbol of what great power politics should look like. The reality is that the Mao-Nixon meeting was an anomaly in the long history of relations with China and the West. Much of China-Western relations over the last 500 years was conducted by multitudes of nameless Chinese and Western traders. The period from 1949-1979 was the only period were strategic concerns triumphed trade, because China had little to offer except instability and revolution. Even in this period, China's attempt to spread revolution in Southeast Asia was a threat to Western investments and corporate interest in the region. During the nadir of both the Qing Dynasty and Republican period, China was still engaged in its traditional commercial role. Throughout much of history of their relations with China, the goals of Britain and the United States were primarily economic,
IMAGINE JUST 10% OF CHINA BOUGHT MY PRODUCT
From the beginning, the allure of China to Western businesses and traders has been its sheer size I. One of the points that the USTR mentions is lack of market access for US companies operating in China, while Chinese companies face much less restrictions operating in the US.
This is supported by remarks by Henry Paulson and Charlene Barshefsky. As Paulson remarked
Trade with China has hurt some American workers. And they have expressed their grievances at the ballot box.
So while many attribute this shift to the Trump Administration, I do not. What we are now seeing will likely endure for some time within the American policy establishment. China is viewed—by a growing consensus—not just as a strategic challenge to the United States but as a country whose rise has come at America’s expense. In this environment, it would be helpful if the US-China relationship had more advocates. That it does not reflects another failure:
In large part because China has been slow to open its economy since it joined the WTO, the American business community has turned from advocate to skeptic and even opponent of past US policies toward China. American business doesn’t want a tariff war but it does want a more aggressive approach from our government. How can it be that those who know China best, work there, do business there, make money there, and have advocated for productive relations in the past, are among those now arguing for more confrontation? The answer lies in the story of stalled competition policy, and the slow pace of opening, over nearly two decades. This has discouraged and fragmented the American business community. And it has reinforced the negative attitudinal shift among our political and expert classes. In short, even though many American businesses continue to prosper in China, a growing number of firms have given up hope that the playing field will ever be level. Some have accepted the Faustian bargain of maximizing today’s earnings per share while operating under restrictions that jeopardize their future competitiveness. But that doesn’t mean they’re happy about it. Nor does it mean they aren’t acutely aware of the risks — or thinking harder than ever before about how to diversify their risks away from, and beyond, China.
What is interesting about Paulson's speech is he spend only one sentence about displaced US workers, and a whole paragraph about US business operating in China. While Kissinger writes books about China, how much does he contribute to both Democrats and the Republicans during the election cycle? China is increasingly makING it more difficult for US companies operating and those exporting products to China.

CONTINUED

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Elaborating on Datadash's 50k BTC Prediction: Why We Endorse the Call

As originally published via CoinLive
I am the Co-Founder at CoinLive. Prior to founding Coinlive.io, my area of expertise was inter-market analysis. I came across Datadash 50k BTC prediction this week, and I must take my hats off to what I believe is an excellent interpretation of the inter-connectivity of various markets.
At your own convenience, you can find a sample of Intermarket analysis I've written in the past before immersing myself into cryptos full-time.
Gold inter-market: 'Out of sync' with VIX, takes lead from USD/JPY
USD/JPY inter-market: Watch divergence US-Japan yield spread
EUUSD intermarket: US yields collapse amid supply environment
Inter-market analysis: Risk back in vogue, but for how long?
USD/JPY intermarket: Bulls need higher adj in 10-y US-JP spread
The purpose of this article is to dive deeper into the factors Datadash presents in his video and how they can help us draw certain conclusions about the potential flows of capital into crypto markets and the need that will exist for a BTC ETF.
Before I do so, as a brief explainer, let's touch on what exactly Intermarket analysis refers to:
Intermarket analysis is the global interconnectivity between equities, bonds, currencies, commodities, and any other asset class; Global markets are an ever-evolving discounting and constant valuation mechanism and by studying their interconnectivity, we are much better positioned to explain and elaborate on why certain moves occur, future directions and gain insights on potential misalignments that the market may not have picked up on yet or might be ignoring/manipulating.
While such interconnectivity has proven to be quite limiting when it comes to the value one can extract from analyzing traditional financial assets and the crypto market, Datadash has eloquently been able to build a hypothesis, which as an Intermarket analyst, I consider very valid, and that matches up my own views. Nicolas Merten constructs a scenario which leads him to believe that a Bitcoin ETF is coming. Let's explore this hypothesis.
I will attempt to summarize and provide further clarity on why the current events in traditional asset classes, as described by Datadash, will inevitably result in a Bitcoin ETF. Make no mistake, Datadash's call for Bitcoin at 50k by the end of 2018 will be well justified once a BTC ETF is approved. While the timing is the most challenging part t get right, the end result won't vary.
If one wishes to learn more about my personal views on why a BTC ETF is such a big deal, I encourage you to read my article from late March this year.
Don't Be Misled by Low Liquidity/Volume - Fundamentals Never Stronger
The first point Nicholas Merten makes is that despite depressed volume levels, the fundamentals are very sound. That, I must say, is a point I couldn't agree more. In fact, I recently wrote an article titled The Paradox: Bitcoin Keeps Selling as Intrinsic Value Set to Explode where I state "the latest developments in Bitcoin's technology makes it paradoxically an ever increasingly interesting investment proposition the cheaper it gets."
However, no article better defines where we stand in terms of fundamentals than the one I wrote back on May 15th titled Find Out Why Institutions Will Flood the Bitcoin Market, where I look at the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
Nicholas believes that based on the supply of Bitcoin, the market capitalization can reach about $800b. He makes a case that with the fundamentals in bitcoin much stronger, it wouldn't be that hard to envision the market cap more than double from its most recent all-time high of more than $300b.
Interest Rates Set to Rise Further
First of all, one of the most immediate implications of higher rates is the increased difficulty to bear the costs by borrowers, which leads Nicholas to believe that banks the likes of Deutsche Bank will face a tough environment going forward. The CEO of the giant German lender has actually warned that second-quarter results would reflect a “revenue environment [that] remains challenging."
Nicholas refers to the historical chart of Eurodollar LIBOR rates as illustrated below to strengthen the case that interest rates are set to follow an upward trajectory in the years to come as Central Banks continue to normalize monetary policies after a decade since the global financial crisis. I'd say, that is a correct assumption, although one must take into account the Italian crisis to be aware that a delay in higher European rates is a real possibility now.
![](https://coinlive.io/ckeditor_assets/pictures/947/content_2018-05-30_1100.png)
Let's look at the following combinations: Fed Fund Rate Contract (green), German 2-year bond yields (black) and Italy's 10-year bond yield (blue) to help us clarify what's the outlook for interest rates both in Europe and the United States in the foreseeable future. The chart suggests that while the Federal Reserve remains on track to keep increasing interest rates at a gradual pace, there has been a sudden change in the outlook for European rates in the short-end of the curve.
While the European Central Bank is no longer endorsing proactive policies as part of its long-standing QE narrative, President Mario Draghi is still not ready to communicate an exit strategy to its unconventional stimulus program due to protectionism threats in the euro-area, with Italy the latest nightmare episode.
Until such major step is taken in the form of a formal QE conclusion, interest rates in the European Union will remain depressed; the latest drastic spike in Italy's benchmark bond yield to default levels is pre-emptive of lower rates for longer, an environment that on one hand may benefit the likes of Deutsche Bank on lower borrowing costs, but on the other hand, sets in motion a bigger headache as risk aversion is set to dominate financial markets, which leads to worse financial consequences such as loss of confidence and hence in equity valuations.
![](https://coinlive.io/ckeditor_assets/pictures/948/content_2018-05-30_1113.png)
Deutsche Bank - End of the Road?
Nicholas argues that as part of the re-restructuring process in Deutsche Bank, they will be facing a much more challenging environment as lending becomes more difficult on higher interest rates. At CoinLive, we still believe this to be a logical scenario to expect, even if a delay happens as the ECB tries to deal with the Italian political crisis which once again raises the question of whether or not Italy should be part of the EU. Reference to an article by Zerohedge is given, where it states:
"One day after the WSJ reported that the biggest German bank is set to "decimate" its workforce, firing 10,000 workers or one in ten, this morning Deutsche Bank confirmed plans to cut thousands of jobs as part of new CEO Christian Sewing's restructuring and cost-cutting effort. The German bank said its headcount would fall “well below” 90,000, from just over 97,000. But the biggest gut punch to employee morale is that the bank would reduce headcount in its equities sales and trading business by about 25%."
There is an undeniably ongoing phenomenon of a migration in job positions from traditional financial markets into blockchain, which as we have reported in the past, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream are formidable once they decide to integrate cryptocurrencies into their business models.
One can find an illustration of Deutsche Bank's free-fall in prices below:
![](https://coinlive.io/ckeditor_assets/pictures/946/content_2018-05-30_1052.png)
Nicholas takes notes of a chart in which one can clearly notice a worrying trend for Italian debt. "Just about every other major investor type has become a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. Said differently, for well over a year, the only marginal buyer of Italian bonds has been the ECB!", the team of Economists at Citi explained. One can find the article via ZeroHedge here.
![](https://coinlive.io/ckeditor_assets/pictures/953/content_2018-05-30_1451.png)
Equities & Housing to Suffer the Consequences
Nicholas notes that trillions of dollars need to exit these artificially-inflated equity markets. He even mentions a legendary investor such as George Soros, who has recently warned that the world could be on the brink of another devastating financial crisis, on lingering debt concerns in Europe and a strengthening US dollar, as a destabilizing factor for both the US's emerging- and developed-market rivals.
Ray Dalio, another legend in the investing world and Founder of Bridgewater Associates, the world’s largest hedge fund, "has ramped up its short positions in European equities in recent weeks, bringing their total value to an estimated $22 billion", MarketWatch reports.
Nicholas extracts a chart by John Del Vecchio at lmtr.com where it illustrates the ratio between stocks and commodities at the lowest in over 50 years.
As the author states:
"I like to look for extremes in the markets. Extremes often pinpoint areas where returns can be higher and risk lower than in other time periods. Take the relationship between commodities and stocks. The chart below shows that commodities haven not been cheaper than stocks in a generation. We often hear this time it is different” to justify what’s going on in the world. But, one thing that never changes is human nature. People push markets to extremes. Then they revert. "
![](https://coinlive.io/ckeditor_assets/pictures/954/content_2018-05-30_1459.png)
Bitcoin ETF the Holy Grail for a Cyclical Multi-Year Bull Run
It is precisely from this last chart above that leads Nicholas to believe we are on the verge of a resurgence in commodity prices. Not only that but amid the need of all this capital to exit stocks and to a certain extent risky bonds (Italian), a new commodity-based digital currency ETF based on Bitcoin will emerge in 2018.
The author of Datadash highlights the consideration to launching a Bitcoin ETF by the SEC. At CoinLive, our reporting of the subject can be found below:
"Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place."
Nicholas refers to the support the Bitcoin ETF has been receiving by the Cboe president Chris Concannon, which is a major positive development. CoinLive reported on the story back in late March, noting that "a Bitcoin ETF will without a doubt open the floodgates to an enormous tsunami of fresh capital entering the space, which based on the latest hints by Concannon, the willingness to keep pushing for it remains unabated as the evolution of digital assets keeps its course."
It has been for quite some time CoinLive's conviction, now supported by no other than Nicholas Merten from Datadash, that over the next 6 months, markets will start factoring in the event of the year, that is, the approval of a Bitcoin ETF that will serve as a alternative vehicle to accommodate the massive flows of capital leaving some of the traditional asset classes. As Nicholas suggests, the SEC will have little choice but to provide alternative investments.
Bitcoin as a Hedge to Lower Portfolios' Volatility
Last but not least, crypto assets such as Bitcoin and the likes have an almost non-existent correlation to other traditional assets such as stocks, bonds, and commodities, which makes for a very attractive and broadly-applicable diversification strategy for the professional money as it reduces one’s portfolio volatility. The moment a Bitcoin ETF is confirmed, expect the non-correlation element of Bitcoin as a major driving force to attract further capital.
Anyone Can Be Wrong Datadash, But You Won't be Wrong Alone
Having analyzed the hypothesis by Nicholas Merten, at CoinLive we believe that the conclusion reached, that is, the creation of a Bitcoin ETF that will provide shelter to a tsunami of capital motivated by the diversification and store of value appeal of Bitcoin, is the next logical step. As per the timing of it, we also anticipate, as Nicholas notes, that it will most likely be subject to the price action in traditional assets. Should equities and credit markets hold steady, it may result in a potential delay, whereas disruption in the capital market may see the need for a BTC ETF accelerate. Either scenario, we will conclude with a quote we wrote back in March.
"It appears as though an ETF on Bitcoin is moving from a state of "If" to "When."
Datadash is certainly not alone on his 50k call. BitMEX CEO Arthur Hayes appears to think along the same line.
On behalf of the CoinLive Team, we want to thank Nicholas Merten at Datadash for such enlightening insights.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

US Venezuela Policy is About Oligarchy, Not Democracy

US Venezuela Policy is About Oligarchy, Not Democracy

The proven oil reserves in Venezuela are recognized as the LARGEST in the world, totaling 297 billion barrels.
While ignoring (and even supporting) the atrocities of authoritarian regimes in places like Saudi Arabia, Bahrain and Uzbekistan, US oligarchs have targeted Venezuela for “regime-change” in the name of “democracy”.
Currently, the US is engaging in economic warfare against Venezuela to foment a coup and remove its democratically elected president Nicolás Maduro.
Without providing solid evidence, our corporate-controlled government and mainstream media portray Maduro as a corrupt, repressive, and illegitimate leader with little to no support.

Ask yourself:

Do I ever see officials from the Venezuelan government appear in corporate news shows to tell THEIR side of the story?
What people DO get to comment on Venezuela and what are their credentials and agenda? Are these people essentially public relations agents for the US-orchestrated coup?
Does corporate news provide me with historical background of US imperialism in Venezuela to put these current events in context?

What Corporate-Controlled Media will NOT Tell You

The CIA was involved in the failed coup against Venezuela's popular leader Hugo Chavez in 2002.
Venezuela is not a strictly socialist country; it has a “mixed” economy - not unlike Norway or other Scandinavian countries.
Venezuela is a DEMOCRACY - unlike US-allies Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Kuwait.
In 2012, Jimmy Carter went on record saying:
“As a matter of fact, of the 92 elections that we've monitored, I would say the election process in Venezuela is the best in the world”
The opposition to Maduro knew they were going to lose the last election and so boycotted it in attempt to delegitimize the results.
The US actually tried to dissuade Maduro’s opponents from running!
Maduro invited international observers into the country in 2018 to monitor the last election but the opposition asked the UN not to send observers!
More than 80% of the Venezuelan population had not even HEARD of Juan Guaidó before Trump and the US state proclaimed him the “rightful” president.
Maduro’s approval ratings within his country are on par with opposition-controlled National Assembly. According to an October poll by opposition-aligned pollster Datanalisis, Venezuela's National Assembly, of which Juan Guaidó is president, has a disapproval rating of 70%.
Venezuela WANTS to sell its oil to the US – the US is their largest market and refines a majority of their oil.
US companies Chevron Corp, Halliburton, Schlumberger, Baker Hughes and Weatherford International all have operations in Venezuela, and are allowed to continue to engage in transactions and activities with PDVSA and its joint ventures through July 27.
“No State or group of States has the right to intervene, directly or indirectly, for any reason whatever, in the internal or external affairs of any other State. The foregoing principle prohibits not only armed force but also any other form of interference or attempted threat against the personality of the State or against its political, economic, and cultural elements.” Organization of American States Charter

Why is the US Corporatocracy so Keen to Remove Maduro?

While Venezuela’s economy is not a strictly-state-run economy, its oil industry is nationalized and uses its revenues for the benefit of its citizens (especially the poor).
After years of crippling US sanctions Maduro stepped over a crucial line in October when his government announced that Venezuela was abandoning the US dollar and would be make all future transactions on the Venezuelan exchange market in euro.
Saddam Hussein also went off the dollar in favor of the euro in 2003 – we started dropping bombs on him the next month.
A similar decision by the Gadhafi government in Libya (2011) was quickly followed by a devastating US-orchestrated conflict - culminating in Gadhafi's capture by radical Islamists who sodomized him with a bayonet before killing him. Since then, Libya has gone from Africa's wealthiest country to a truly failed-state complete with a slave trade! To make matters worse, after the collapse of the Libyan government, its military arms were smuggled out of that country and into the hands of ISIS fighters in Iraq and Syria - enabling US-orchestrated chaos in those countries.

Who cares what currency a country uses to trade petroleum?

Answer: US oligarchy

The US dollar is central to US world economic domination.
Like all other modern currencies, it is a fiat currency – backed by no real assets to prop up its value.
In lieu of a “gold standard” we know operate on a de-facto “oil-standard”:
"After the collapse of the Bretton Woods gold standard in the early 1970s, the United States struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world's reserve currency and, through this status, the United States enjoys persistent trade deficits and is a global economic hegemony." Investopedia
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence. Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.” Anthony Wile

US Foreign Policy is about Oligarchy Not Democracy

Since World War II, the US has attempted to over-throw the 52 foreign governments. Aside from a handful of exceptions (China, Cuba, Vietnam, etc.), the US has been successful in the vast majority of these attempts.
US foreign policy is not about democracy – it is about exploiting the world’s resources in the interests of a small, ultra-wealthy global elite.
This exploitation benefits a small percentage of people at the top of the economic pyramid while the costs are born by those at the bottom.

US CIA Coup Playbook:

How to Plunder Resources from Foreign Countries While Pretending to Support Democracy
  1. Find a country with resources you want.
  2. Send in an “Economic Hitman” to offer bribes the country’s leader in the form of personally lucrative business deals. If he accepts the deal, the leader will amass a personal fortune in exchange for "privatizing” the resources you wish to extract.
If the leader will not accept your bribes, begin the regime-change process.
3) Engage in economic warfare by imposing crippling sanctions on the country and blame the ensuing shortages on the leader’s “socialist” policies.
4) Work with right-wing allies inside country to fund and organize an “astroturf” opposition group behind a corporate-friendly puppet.
5) Hire thugs inside country to incite unrest and violence against the government in coordination with your opposition group. Use corporate media to publicize the orchestrated outbursts as popular outrage and paint a picture of a “failed state” mired in corruption and chaos.
6) When the government arrests your thugs, decry the response as the brutal repression. Use corporate-owned media to demonize the target government as a despotic regime while praising your puppet opposition as champions of democracy.
7) Work with right-wing military leaders to organize the overthrow the government (offer them the same business deals the current leader refused).
8) If a military-led coup cannot be organized, create a mercenary army to carry out acts of terrorism against the government and its supporters. Portray the mercenaries as “freedom fighters” and their acts of terrorism as a “civil war”.
9) If the target government has popular and military support and is too well-defended for your mercenaries to over-throw: label the country a “rouge state” and wait for the right time to invade. Meanwhile, continue to wear the country’s government and populace down using steps 3 – 8.
10) Escalate the terror campaign within the country to provoke a military response from the country against the US. If they won’t take the bait , fabricate an attack or threat that you can sell to the US population as justification for an invasion.
11) Once the government is removed, set up your puppet regime to provide the illusion of sovereignty. The regime will facilitate and legitimize your appropriation of the country’s resources under the guise of "free" trade.
12) As you continue to extract the country’s resources, provide intelligence and military support to the puppet regime to suppress popular dissent within the country.
13) Use the demise of the former government as yet another example of the impracticality of “socialism.”
What Can I Do?
Call your senators and representatives to voice your opposition to US regime-change efforts in Venezuela.
https://www.commoncause.org/find-your-representative/
Please share this message with others.
Sources included at: https://link.medium.com/8DiA5xzx4T

‘Venezuela’: Media’s One-Word Rebuttal to the Threat of Socialism

ALAN MACLEOD FEBRUARY 8, 2019
A recent Gallup poll (8/13/18) found that a majority of millennials view socialism favorably, preferring it to capitalism. Democratic socialist Bernie Sanders is the most popular politician in the United States, while new leftist Rep. Alexandria Ocasio-Cortez’s (AOC) policies of higher taxes on the wealthy, free healthcare and public college tuition are highly popular—even among Republican voters (FAIR.org,1/23/19).
Alarmed by the growing threat of progressive policies at home, the establishment has found a one-word weapon to deploy against the rising tide: Venezuela. The trick is to attack any political figure or movement even remotely on the left by claiming they wish to turn the country into a “socialist wasteland” (Fox News, 2/2/19) run by a corrupt dictatorship, leaving its people hungry and devastated.
Leading the charge have been Fox News and other conservative outlets. One Fox opinion piece (1/25/19) claimed that Americans should be “absolutely disgusted” by the “fraud” of Bernie Sanders and Democrats like Alexandria Ocasio-Cortez, Elizabeth Warren and Cory Booker, as they “continue to promote a system that is causing mass starvation and the collapse of a country,” warning that is exactly what their failed socialist policies would bring to the US. (Back in the real world, while Sanders and Ocasio-Cortez identify as socialists, Warren is a self-described capitalist, and Booker is noted for his ties to Wall Street, whose support for his presidential bid he has reportedly been soliciting.) A second Fox Newsarticle (1/27/19) continues in the same vein, warning that, “At the heart of Venezuela’s collapse is a laundry list of socialist policies that have decimated its economy.”
The Wall Street Journal (1/28/19) describes calls for negotiations in Venezuela as “siding with the dictator.”
In an article entitled “Bernie Sanders, Jeremy Corbyn and the Starving Children of Venezuela,” the Washington Examiner (6/15/17) warned its readers to “beware the socialist utopia,” describing it as a dystopia where children go hungry thanks to socialism. The Wall Street Journal (1/28/19) recently condemned Sanders for his support of a “dictator,” despite the fact Bernie has strongly criticized Venezuelan President Nicolás Maduro, and dismissed Maduro’s predecessor, Hugo Chavez, as a “dead Communist dictator” (Reuters, 6/1/16).
More supposedly centrist publications have continued this line of attack. The New York Times’ Bret Stephens (1/25/19) argued: “Venezuela is a socialist catastrophe. In the age of AOC, the lesson must be learned again”—namely, that “socialism never works,” as “20 years of socialism” has led to “the ruin of a nation.” The Miami Herald(2/1/19) cast shame on Sanders and AOC for arguing for socialism in the face of such overwhelming evidence against it, describing the left’s refusal to back self-appointed president Juan Guaidó, someone whom less than 20 percent of Venezuelans had even heard of, let alone voted for, as “morally repugnant.”
This useful weapon to be used against the left can only be sustained by withholding a great number of key facts—chief among them, the US role in Venezuela’s devastation. US sanctions, according to the Venezuelan opposition’s economics czar, are responsible for a halving of the country’s oil output (FAIR.org, 12/17/18). The UN Human Rights Council has formally condemned the US and discussed reparations to be paid, with one UN special rapporteur describing Trump’s sanctions as a possible “crime against humanity” (London Independent, 1/26/19). This has not been reported by any the New York Times, Washington Post, CNN or any other national US “resistance” news outlet, which have been only too quick to support Trump’s regime change plans (FAIR.org, 1/25/19).
Likewise, the local US-backed opposition’s role in the economic crisis is barely mentioned. The opposition, which controls much of the country’s food supply, has officially accepted responsibility for conducting an “economic war” by withholding food and other key goods.
For example, the monolithic Empresas Polar controls the majority of the flour production and distribution crucial for making arepa cornbread, Venezuela’s staple food. Polar’s chair is Leopoldo Lopez, national coordinator of Juan Guaidó’s Popular Will party, while its president is Lorenzo Mendoza, who considered running for president against Maduro in the 2018 elections that caused pandemonium in the media (FAIR.org, 5/23/18).
Conspicuously, it’s the products that Polar has a near-monopoly in that are often in shortest supply. This is hardly a secret, but never mentioned in the copious stories (CNN, 5/14/14, Bloomberg, 3/16/17, Washington Post, 5/22/17, NPR, 4/7/17) focusing on bread lines in the country.
Also rarely commented on was the fact that multiple international election observer missions declared the 2018 elections free and fair, and that Venezuelan government spending as a proportion of GDP (often considered a barometer of socialism) is actually lower than the US’s, and far lower than most of Europe’s, according to the conservative Heritage Foundation.
The London Daily Express (2/3/19) demonstrates that redbaiting works equally well on either side of the Atlantic.
Regardless of these bothersome facts, the media has continued to present Venezuela’s supposedly socialist dictatorship as solely responsible for its crisis as a warning to any progressives who get the wrong idea. So useful is this tool that it is being used to attack progressive movements around the world. The Daily Express (2/3/19) and Daily Mail (2/3/19) condemned UK Labour Party leader Jeremy Corbyn for his “defense” of a “dictator,” while the Daily Telegraph(2/3/19) warned that the catastrophe of Venezuela is Labour’s blueprint for Britain. Meanwhile, the Greek leftist party Syriza’s support for Maduro (the official position of three-quarters of UN member states) was condemned as “shameful” (London Independent, 1/29/19).
“Venezuela” is also used as a one-word response to shut down debate and counter any progressive idea or thought. While the panel on ABC’s The View (7/23/18) discussed progressive legislation like Medicare for All and immigration reform, conservative regular Meghan McCain responding by invoking Venezuela: “They’re starving to death” she explained, leaving the other panelists bemused.
President Trump has also used it. In response to criticism from Senator Elizabeth Warren over his “Pocahontas” jibe, he replied that she would “make our country into Venezuela” (Reuters, 10/15/18).
The weapon’s effectiveness can only be sustained through a media in lockstep with the government’s regime-change goals. That the media is fixated on the travails of a relatively small and unimportant country in America’s “backyard,” and that the picture of Venezuela is so shallow, is not a mistake. Rather, the simplistic narrative of a socialist dictatorship starving its own people provides great utility as a weapon for the establishment to beat back the domestic “threat” of socialism, by associating movements and figures such as Bernie Sanders, Alexandria Ocasio-Cortez and Jeremy Corbyn with an evil caricature they have carefully crafted.

Corporate Propaganda Blitz Against Venezuela’s Elected President: MSM Will Not Let Facts Interfere With Coup Agenda

Facts Don’t Interfere With Propaganda Blitz Against Venezuela’s Elected President Joe Emersberger
Guaidó, anointed by Trump and a new Iraq-style Coalition of the Willing, did not even run in Venezuela’s May 2018 presidential election. In fact, shortly before the election, Guaidó was not even mentioned by the opposition-aligned pollster Datanálisis when it published approval ratings of various prominent opposition leaders. Henri Falcón, who actually did run in the election (defying US threats against him) was claimed by the pollster to basically be in a statistical tie for most popular among them. It is remarkable to see the Western media dismiss this election as “fraudulent,” without even attempting to show that it was “stolen“ from Falcón. Perhaps that’s because it so clearly wasn’t stolen.
Graph: Approval Ratings of Main Venezuelan Leaders Nov 2016 - July 2018 Data from the opposition-aligned pollsters in Venezuela (via Torino Capital) indicates that Henri Falcón was the most popular of the major opposition figures at the time of the May 2018 presidential election. Nicolás Maduro won the election due to widespread opposition boycotting and votes drawn by another opposition candidate, Javier Bertucci.
The constitutional argument that Trump and his accomplices have used to “recognize” Guaidó rests on the preposterous claim that Maduro has “abandoned” the presidency by soundly beating Falcón in the election. Caracas-based journalist Lucas Koerner took apart that argument in more detail.
What about the McClatchy-owned Miami Herald's claim that Maduro “continues to reject international aid”? In November 2018, following a public appeal by Maduro, the UN did authorize emergency aid for Venezuela. It was even reported by Reuters (11/26/18), whose headlines have often broadcast the news agency’s contempt for Maduro’s government.
It’s not unusual for Western media to ignore facts they have themselves reported when a major “propaganda blitz” by Washington is underway against a government. For example, it was generally reported accurately in 1998 that UN weapons inspectors were withdrawn from Iraq ahead of air strikes ordered by Bill Clinton, not expelled by Iraq’s government. But by 2002, it became a staple of pro-war propaganda that Iraq had expelled weapons inspectors (Extra! Update, 10/02).
And, incidentally, when a Venezuelan NGO requested aid from the UN-linked Global Fund in 2017, it was turned down. Setting aside how effective foreign aid is at all (the example of Haiti hardly makes a great case for it), it is supposed to be distributed based on relative need, not based on how badly the US government wants somebody overthrown.
But the potential for “aid” to alleviate Venezuela’s crisis is negligible compared to the destructive impact of US economic sanctions. Near the end of the Miami Herald article, author Jim Wyss cited an estimate from the thoroughly demonized Venezuelan government that US sanctions have cost it $30 billion, with no time period specified for that estimate. Again, this calls to mind the run-up to the Iraq invasion, when completely factual statements that Iraq had no WMDs were attributed to the discredited Iraqi government. Quoting Iraqi denials supposedly balanced the lies spread in the media by US officials like John Bolton, who now leads the charge to overthrow Maduro. Wyss could have cited economists independent of the Maduro government on the impact of US sanctions—like US economist Mark Weisbrot, or the emphatically anti-Maduro Venezuelan economist Francisco Rodríguez.
Illegal US sanctions were first imposed in 2015 under a fraudulent “state of emergency” declared by Obama, and subsequently extended by Trump. The revenue lost to Venezuela’s government due to US economic sanctions since August 2017, when the impact became very easy to quantify, is by now well over $6 billion. That’s enormous in an economy that was only able to import about $11 billion of goods in 2018, and needs about $2 billion per year in medicines. Trump’s “recognition” of Guaidó as “interim president” was the pretext for making the already devastating sanctions much worse. Last month, Francisco Rodríguez revised his projection for the change in Venezuela’s real GDP in 2019, from an 11 percent contraction to 26 percent, after the intensified sanctions were announced.
The $20 million in US “aid” that Wyss is outraged Maduro won’t let in is a rounding error compared to the billions already lost from Trump’s sanctions.
Former US Ambassador to Venezuela William Brownfield, who pressed for more sanctions on Venezuela, dispensed with the standard “humanitarian” cover that US officials have offered for them (Intercept, 2/10/19):
And if we can do something that will bring that end quicker, we probably should do it, but we should do it understanding that it’s going to have an impact on millions and millions of people who are already having great difficulty finding enough to eat, getting themselves cured when they get sick, or finding clothes to put on their children before they go off to school. We don’t get to do this and pretend as though it has no impact there. We have to make the hard decision—the desired outcome justifies this fairly severe punishment.
How does this gruesome candor get missed by reporters like Wyss, and go unreported in his article?
Speaking of “severe punishment,” if the names John Bolton and Elliott Abrams don’t immediately call to mind the punishment they should be receiving for crimes against humanity, it illustrates how well the Western propaganda system functions. Bolton, a prime facilitator of the Iraq War, recently suggested that Maduro could be sent to a US-run torture camp in Cuba. Abrams played a key role in keeping US support flowing to mass murderers and torturers in Central America during the 1980s. Also significant that Abrams, brought in by Trump to help oust Maduro, used “humanitarian aid” as cover to supply weapons to the US-backed Contra terrorists in Nicaragua.
In the Miami Herald article, the use of US “aid” for military purposes is presented as another allegation made by the vilified Venezuelan president: “Maduro has repeatedly said the aid is cover for a military invasion and has ordered his armed forces not to let it in, even as food and medicine shortages sweep the country.”
Venezuela Accuses U.S. of Secretly Shipping Arms After Weapons Found on Plane with Possible CIA Ties | Democracy Now!
Calling for international aid and being democratically elected will do as little to protect Maduro’s government from US aggression as being disarmed of WMD did to prevent Iraq from being invaded—unless there is much more pushback from the US public against a lethal propaganda system.
Suggested Reading:
When Is a Democracy not a Democracy? When It’s Venezuela and the US is Pushing Regime Change. Venezuela has as much right to call itself a democracy as does the United States. Until that is understood by enough people, the Trump administration will continue to devastate Venezuela’s economy with illegal sanctions and push it towards civil war.
UN Rapporteur: US Sanctions Cause Death in Venezuela
Guaido is playing it fast and loose with the Bolivarian Constitution to justify a dictatorship
Trump’s Economic Sanctions Have Cost Venezuela About $6bn Since August 2017
How could Venezuela's president 'steal' the 2018 election from an unknown who didn't run?
In other news...
The Largest Protest Ever Was 15 Years Ago. The Iraq War Isn’t Over. What Happened?
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