Tag Archives: Eu

July 8, 2023 · 19:05

The pot saw the black kettle

Yup, we all see that at times. We see the good, the bad and the opposite. And as such the media is all about giving us a partial story. Still this is not always on them, I get that. So when I saw Reuters giving us ‘Yellen criticises China’s ‘punitive’ actions against US companies, urges market reforms’ (at https://www.reuters.com/world/yellen-urges-china-adopt-market-reforms-insists-us-not-decoupling-2023-07-07/) my very first thought was “Is she for real?” 

Thi is a setting that started years ago with the US riling up support AGAINST Huawei. We saw the dozen countries all going against Huawei. The larger station is not that they went up against Huawei, the bigger part is that NONE OF THEM ever gave us ANY evidence that Huawei was a security risk. This is not me being pro Huawei or being pro China. This is me being pro evidence and we were never given any evidence. One case (that was settled) in 2010 is all we got and all the stories were laced with ‘could/‘ and ‘might be’. Cisco was the same danger but no one spoke out, not even when Cisco had its set of security issues. These things happen. Yet the US is still operating its set of systems. There is GARLICK, LADYLOVE, MOONPENNY, JACKKNIFE, TIMBERLINE, STELLAR, IRONSAND and that list goes on for a while. Yet China is the big evil and no evidence is clearly presented. 

So now we get “U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticised its recent tough actions against U.S. companies and mineral export controls, while China’s premier called on her to “meet China halfway” and put bilateral relations back on track.” I t3end to say, either stop the anti-Huawei stages or present actual and FACTUAL evidence that Huawei is a national security issue. There is close to nothing else. And as for the ‘mineral export controls’, well there might be a reason China needs them, there is also the case that stopping Huawei without evidence comes at a price and it seems that the mineral export is part of that price. So whilst the world is seeking for gallium and germanium (the second one is not found in Germany) the US needs to realise that their stance as a bully comes at a price and now that these prices are set in the open, the US doesn’t get to say “meet China halfway”. It intentionally destroyed the Huawei 5G wave because Americans were too stupid to take the lead in 5G technology and counter what was out there. Even I have 5G IP that the US (and others) do not have. All because the fat cats were lazy in an age when China became a true innovator. As such, as we are told “a technology war with the United States and potentially causing more disruption to global supply chains” the setting is not incorrect but not complete. You see these two substances are decently rare and China has the largest load. The US cannot claim the amounts from Japan or the UK (Or France, or the EU) as such they are in a bind and this is what comes with the bully tactic we have seen these last 5 years. Gallum is a different story. I have no precise numbers, but China is not the largest exporter, it apparently is Brazil with the US in second place. But I reckon that the two together will set a larger station and yes it comes from China. So as we consider “Yellen met with Premier Li Qiang on Friday during a visit to Beijing aimed at repairing fractious U.S.-Chinese economic relations, but made clear in her public remarks that Washington and its Western allies will continue to hit back at what she called China’s “unfair economic practices.”” As unfair economic practices go, 11 years ago we were given “A 2012 White House-ordered security review found no evidence that Huawei spied for China and said instead that security vulnerabilities on its products posed a greater threat to its users. The details of the leaked review came a week after a US House Intelligence Committee report which warned against letting Huawei supply critical telecommunications infrastructure in the United States.” I reckon that with leaked their own stables are in order? In addition to that, the stage is escalating and now we see that as shortages of Gallum and Germanium imply that there is a danger to US National security, with their stockpiles having no reserves left. As such I have a two set mind. Janet Yellen as the champion for bullies should not talk about “market reforms”. On the other hand, I am not claiming that China is innocent. I want to see evidence that they are not and so far going back at least 5 years, the US and the EU NEVER presented this. This is the station we face and as I personally see it Janet Yellen is the new US version of Don Quichotte and China is the next windmill. And as I see it, the stage that STC and Saudi Arabia is embarking on, the shortage that the US faces in Germanium and Gallum implies that the lag that the US faces will close to exponentially increase during late 2024. This is a setting that was to some unexpected, but the Reuters article gives us a list of people and they are all monitoring the supply. This implies to me that the setting is not as good as some make it out to be and it sets a different stage for the UK and France. As the US shortages increase it will stage a takeover of these suppliers by the US a lot stronger and faster than anyone had foreseen. This is (as I personally reckon)  a station of close to exponential danger to these nations. It might be the reason why Janet Yellen was send and not some one form the US State department. Did no one consider that question? Why was Janet Yellen send? It is pure speculation on my side, but I reckon that Premier Li Qiang is having a great time. It might be the first time he is talking from a position of great strength, but I could be wrong here.

What a weird weekend this is, enjoy yours.

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June 20, 2023 · 23:04

One source confirms

That is where I stand. Today I got news from the Asia Times on something I have been saying for some time. Now, one source does not make it true, but the information given here and pretty much nowhere else should give people a place to start, moreover it could also be seen as the underlying problem to something a lot more dangerous. The article (at https://asiatimes.com/2023/06/eu-push-to-rip-and-replace-huawei-5g-meets-resistance/) gives us ‘EU push to rip and replace Huawei 5G meets resistance’ where we see “EU Commissioner Thierry Breton wants Germany and other European countries to stop dragging their feet and eliminate Chinese equipment from their 5G telecom networks. The European telecom industry and Huawei are pushing back.” This is the start of something I have stated for a long time, yet now we get “Deutsche Telekom quickly rejected claims that mobile networks built by China’s Huawei could be altered remotely to cause damage or steal data. In a June 16 statement to the German news site golem.de, a spokesman for the German telecom provider declared, “No [software] update can be introduced into the live system that was not fully tested for functionality and security.”” This shows the first chink in the EU armour. This is followed by “The network management systems are located in a high-security network that is completely separated from the Internet and from the company’s office communications network,” said Deutsche Telekom executive Stephan Broszio, according to press reports. “Access to this network is granted only to a few employees subject to strict security review. A remote attack by the producer firm [namely Huawei] is not possible.” In addition we get “Austria’s chief telecommunications regulator, Klaus Steinmauer, told the Austrian News Agency that he “saw no danger from Huawei,” adding, “I don’t know of a single instance” of problems” As I personally see it, EU Commissioner Thierry Breton either publishes clear evidence of these dangers, or he should move to Washington DC and become an Uber driver. You see if there is evidence fine, but for years now we see boasts and never was any evidence given. I see this as a problem and now that the US cannot foot any bills, the others are stating that the US needs to eff off (you know what I mean). I reckon it is not long until these telecom companies will demand that the EU foot the bills for hundreds of billions in hardware change, foot the bill for adjusting that hardware and foot the bill for loss due to diminished broadband capacity. In the meantime Saudi Arabia is extending its reach into Africa and the Mediterranean, after which the telecoms will get loss upon loss and handing over what margins they had to the Saudi Telecom Company (STC), because that is now merely one step away. That was given to us in April with ‘Saudi Telecom Buys Mobile Tower Unit in Europe from United Group’, which now gives them access to Bulgaria, Croatia, and Slovenia, after which the access towards Italy, Greece, Spain and the rest of the Mediterranean is all but a simple flick of a switch. 

But leave it to players like EU Commissioner Thierry Breton to ignore the obvious. On the upside, with my language skills, I would gain another job option to another company and in this day and age that matters, especially as big tech is shedding thousands of positions. 

And even as the article ends with “it would help dispel suspicions that Breton and the European Commission are simply following instructions from the US.” I reckon that until we see actual EVIDENCE of the nefarious implied deeds by Huawei, that feeling will not go away, not for a long time.

So enjoy the day whoever you telecom with, today, or tomorrow. 

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June 14, 2023 · 01:11

There is a larger play

Something stirred in me when I saw the article (at https://www.theguardian.com/sport/blog/2023/jun/13/saudi-arabia-golf-pga-tour-public-investment-fund) called ‘Saudi golf takeover is blueprint for what they want to do everywhere else’ and I had some issues with this. You see, we might give credence to “Players who had turned down eye-moistening sums of Saudi money out of what they laughably believed was a reciprocated loyalty to the PGA Tour found out, like everyone else, when their phones started pinging”, as well as “Even most of the PGA Tour board had no idea what was happening. Does this strike you as the behaviour of a regime concerned with winning hearts and minds? The brazenness, the wall of silence, the smoke and mirrors, the decision to present this deal to the world as a fait accompli: this is all part of the performance. The projection of power matters as much as the power itself. It says to the world: we bone-sawed a journalist, we bought golf and you didn’t even know anything was happening”. And there is more when you read the article. The largest stage is not set and not given. The largest set is that the US and EU are broke. They give a nice presentation, but the largest stage is that they are broke and the sports need to survive. As such the players, the teams and the largest settings are moving house. F1 is going because the middle east is almost the only one who can play jet set with money. Football is much harder, but the players that matter are moving house. They can try to be prima donna in a saturated world, or they can be the shining star in a place where they are alone. They can spread their wings and perhaps become a little better, or create the next generation of winners. Ronaldo and Messi are examples. The NHL is losing people to the UAE and the Middle East. Pakistan is becoming a more fearsome adversary in Cricket and that list goes on. The PG is merely one example and soon the NBA will see players go to the UAE and Saudi Arabia. The middle east is becoming a sports contender and whilst we are all wondering why. Consider that these sports wanted inclusion and that is what the KSA and UAE did. Soon the KSA will have a new English news channel and I reckon about that time they will be casting sports to anyone interested in sports. A new conversation on topics we heard for decades and people will pay attention. Consider that we will get (in English) Arabic newscasts on sports and now the advertisers will take notice. These two players played the long game and the advertisers will come around. This is a given, they will go where the people are and the people want sports. It is a game that the Middle East plays well and they played it well now. The channels lost credibility, they lost teams and sports and now the harvest for the new channels will come in. Add to that the Vision 2030 by the KSA and you get to see a new stage, and in all that the interest in Islam will flourish too. The Christians who are hating everything will lose more and more. Doubt that? Look at Florida. People in Nazi outfits in front of Disney world parading? That is what remains of the US. A place no one wants anymore and the Middle East is enjoying every Karen and dopey video that graces TikTok and YouTube. The aversion against the US and EU is growing. Everyone is shouting and no one is speaking sense and the Middle East is cleaning house because of it. 

So how long until places like the UK and Australia will wonder how the Dubai White Bears are doing and what the scores are for the Emirates Hockey League this week. They will still watch their own teams, but there is a shift happening and it is happening all over the sports world. It is not merely Saudi Arabia, there are more. The Pakistan Cricket Board (PCB) is growing visibility and that is merely one of many. Until recent no one had heard of Fayik Abdi. In 2022 at Beijing Olympics he finished 44th out of 91 competitors. A man from a place where there is no snow is now in the top 50 best ski contenders in the world. Let that sink in. He beat a whole range of people who get to practice it every day, they are from places where there is snow most of the year and a Saudi surpassed them. Our view of the Middle East is off by a lot and we have been lied to by the church since 1094. We are set in a view that no longer applies. The Middle East can ad is becoming more and more a contender in sports we never considered was a threat to anyone from our local stages. Art Schenk (NL), Andrew Symonds (AUS), Lucas Braathen (NO) will soon see new contenders for top spots. Sports fans will cheer Fayik Abdi (KSA), Babar Azam (PAK) and Juma Al Dhaheri (UAE) that too is the consequence of inclusion. And the sooner we learn that anyone can play sports, the sooner you learn that these steps we see now are a natural next step in sports. We might focus on the money, but that is merely a sidestep. How much attention did the PGA get? Who now could afford to play golf? The media focusses on on every scandal it can, because scandals are emotion and emotions relate to clicks. So how many non-scandal related sports stories have you seen in the last week? When was it about the joy of a sport? Who remembers what the BBC reporter Andrew Jennings brought to light? 

Sports is not merely in turmoil, the fans are seeking a way to actually enjoy sports, something they get less and less of. And all the providers are charging for the ‘honour’. As I see it the Middle East has a larger advantage coming their way. But that is merely my point of view.

Enjoy today.

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June 5, 2023 · 21:12

Slam-dunk for the blogger

Yup, I got to call the slam-dunk in my name, on my name and for my name. Now, I am no basketball fan, not when there is the NHL. But I have to give it to the NBA, that term they got right. So this all happened in the morning as I was pondering what was next on the table. Then the BBC gave me the heads up (at https://www.bbc.co.uk/news/business-65804768) with the ominous ‘Oil prices rise as Saudi Arabia pledges output cuts’. I had made mention of this danger a few times over the last month alone and now we get “Oil prices have risen after Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July” and remember it is only a million barrels a day, my scenario was a little less nice. This is the exact danger that I predicted and now that it is going to pass, I wonder what the trolls will shout at me. I made mention yesterday that oil prices would be on the calendar of Blinky Tony (Anthony Blinken) and now it actually is there and it will be a rather not so nice meeting coming up, I reckon that Iran is no longer the main focus. This and the stage of BRICS implies that hard times are ahead for the US and I reckon to some extent the EU too. Because now the US is driven to make the million less be a larger setting for the EU than for the US. A stage well predicted and now it is coming to pass. 

It is Sameer Hashmi, the BBC Middle East business correspondent who gives us “it was widely expected the oil cartel would make production cuts to prop up prices. It appears most members were against the idea, as any cuts would impact oil revenues, which are crucial to keep running their economies.” He is not wrong, but the oversimplified setting is that they are going from 4 barrels at $3, to three barrels at $4. They all still get their $12 (and then some), but the larger stage  comes into play when the equation turns towards 2 barrels for $6, they will still get the same, but now their supplies will last twice as long. The larger problem for the US is that they get 50% for the same price and they still haven’t considered muzzling Brent Oil, those people export over 80% and now something will have to give and that is the stage we are coning to now. So when the UK and EU start feeling the pain of less oil there economy will impact to a much larger extent and as the Just Stop Oil people start shouting victory, the impact of people who cannot pay for heating bills, tradies that can no longer work because their prices need to keep going up, the setting of losses all over rural nations (UK, Germany, Italy and France the most) will be seeing much larger impacts. A stage that was clearly out there. The clearest recent mention I made was on April 13th (almost 2 months ago) at ‘The song remains the same’ (at https://lawlordtobe.com/2023/04/13/the-song-remains-the-same/) it was clear that reductions were in the focal point of OPEC members and in this Russia is merely sitting back, for them it works out nicely. But the larger stages of economy are not set to the drawback of oil lacks, no scenario was set to that and that is the largest political failure in the west. In this the one solution they had with Elon Musk is now slipping from their fingers. So not only did the US bite both hands that could be feeding them, whatever comes next might not be in time for the next debt ceiling, implying that default is the only thing that Americans have to look forward to. 

So in the end one player wins, the other player loses, but I get my slam-dunk. Is it fair? That is not the question, I saw this and I predicted this, so why did these high paid politicians not see this? It wasn’t rocket science (well perhaps the Musk solution was). And as options run short the west needs to rethink the political egotistical needs they had and how they will sail with a lack of vision. All that and more hardships will be coming soon and they did this all to themselves and that setting was clear long before Trump took office. A setting of cogs and the first cog will not care what the second and third cog faces. That is the oversimplified truth of the matter, so whilst we watch the news this month, also look at how much enough the people have with the ‘Just stop oil’ movement. As I personally see it, the UK got directly hurt by them and the CAAT all on moral grounds that were massively one sided and based on a fake moral high ground. So remember them when your pump price goes from 189.9p to 293.4p. Don’t blame the pump owner, blame the people who made this happen. 

Enjoy the day (consider a bicycle).

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June 3, 2023 · 00:58

It’s a BRICS house

That was the setting and it is not a new setting. The BBC gives us (at https://www.bbc.co.uk/news/world-africa-65784030) ‘Brics ministers call for rebalancing of global order away from West’. This is not new to me. I made mentions even before I wrote ‘Brain drain, by design’ (at https://lawlordtobe.com/2022/11/17/brain-drain-by-design/) which was November 2022. So this is not new. I am not happy that Russia is in the mix and I did not consider Brazil in that mix. But India and China were. And even more, which we also see here with “Russian Foreign Minister Sergei Lavrov said “more than a dozen” countries including Saudi Arabia had expressed interest in joining the group”, which I saw coming a mile away. And I reckon that Saudi Arabia and China will then offer an inclusion to the UAE. It is now becoming a simple play that puts the US and the EU out of business. The UK still has its ties to India, as such it needs to play a very careful game to not be set aside, and it is possible that the UK will have some form of shelter, but the US is pretty much done for. It’s news cycle is all about avoiding defaulting from one point to another, and when that goes wrong it goes really wrong with the US and the EU, both Canada and the UK will feel that sting massively. Then as Japan goes Australia will be in similar dire conditions. A stage that was never speculative, anyone with a decent grasp of the abacus could work that out and the  biggest trap they went for was to shut Saudi Arabia out, to let (according to their ego’s) it become a pariah. All for a journalist no one gave a fig about. More importantly there was never any evidence, that much was clear in that United Nations essay and they tried it again with that cyber report that involved Jeff Bezos. Now that new house, that domicile made from BRICS and its members will become the new world powers. As I said, the fact that it includes Russia is not my choice and I am not happy about it. And now that we see more and more business outsourcing to India, that stage will change even more. Those in doubt better get a clue, because if I see my tactics correctly, the BRICS union will set stations so that there is no more debt raising for the US. I am not sure how they will pull it off, but if any of the BRICS members now or new will sell their US bonds it will all stop right quick. We were that close to the edge and now that edge is crumbling. I might not be in time to sell my IP, but I do have an alternative and that setting is close. I will not get much, if anything, but I will get out with my skin decently intact, which is likely more than most others can say at that point. 

So when we consider the BRICS members (Brazil, Russia, India, China and South Africa) a new setting comes and with that the largest ass kissing contest in the EU will start with vonder Leyen on her knees. After that whatever allies the US had will be running for the hills, any hill for that matter. The rich people will already have plans in place, they will have locations ready and they will watch from a massive distance with family and friends how the US implodes upon itself. I reckon that 2024 will be the least comfortable place on the planet to be at that point. Yes, people will call me crazy, people will say that I am causing a panic. Yet these facts were out there for anyone to see, you merely thought that the western media would give you the goods, something they haven’t done in close to a decade. I gave several clues out on several matters on how the media was giving you the runaround going all the way back to September 2012. But you all thought I was crazy. Well, when this situation becomes a reality, you get to see how crazy I was. Did you actually think that someone can have a $32,000,000,000,000 debt and no one comes to collect? I have seen people hide under beds because someone was ringing the doorbell for an outstanding $750. And the final parts was seen a few months ago when Saudi Arabia closed the door on ‘saving’ with a simple “The head of Credit Suisse Group’s largest shareholder, Saudi National Bank (SNB), said on Wednesday it would not buy more shares in the Swiss bank on regulatory grounds” Did you think it was going to be that simple? They lost lost more than $26,000,000,000 in market value. That was the setting I did not initially see, but when we see the larger stage we see that it was more then a loss. I reckon that whatever BRICS has in place, or is about to have in place. The US is now in deep water, they are up to their neck and someone is adding water to the equation. For China it will work out rather well. You see after the US falls, Japan is pretty much next in line with a debt of $9,300,000,000,000, or 1,343.4 % of their GDP. A debt that is 13 times their GDP, without the US that will pretty much strangle them over night and whomever had those bonds can end that economy right there, right quick.

Did you think they were all too big too fail? 

A writer named Jenny Holzer wrote Truisms (1978-1983) gave us “Change is valuable because it lets the oppressed be tyrants.” I think we are about to see the impact of just how nasty that could end up being. 

Could I be wrong?
Of course I can be wrong, yet consider what is shown, and what was implicitly not shown. When you put those two together you get an image. Yes we can speculate that some are presenting a wannabe scenario. Yet two of these players (China and India) have the drive, the people and the will to push forward. Now add the Kingdom of Saudi Arabia and the United Arab Emirates to the mix and you get a massive unsettling concoction that no one in the west wants to try and that is what we see now. The next debt ceiling is January 2025, which might sound nice, but if some of these bonds are set to market in 2024 the US will be in much deeper waters and this is not a secret either. I wrote about this (at https://lawlordtobe.com/2023/03/12/i-honestly-dont-get-it/) on March 12th with ‘I honestly don’t get it’ and even before that. Who will push? I have no idea, because I do not know where all the US bonds are and the media wasn’t too sharing, were they? 

So you can look int this or consider moving to anywhere where this cesspool does not hit, which is another reason why I was eager to sell my IP to Saudi Arabia and the Kingdom Holding Co. I reckoned that a (starting) 5 billion annual revenue stream would appeal to them, apparently I was wrong there too. Will I be wrong again? Perhaps, but I have been correct a lot more times than I was wrong. As such I have a decent confidence in me being right.

Enjoy the weekend (or at least try to).

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April 26, 2023 · 02:31

Is the die cast?

That is the question, personally I think it is, America dug its own grave and I am not asking you to take my word for this. Lets take a look at two pieces of ‘evidence’ handed to us. The first is Al Jazeera. They give us (at https://www.aljazeera.com/features/2023/4/25/can-china-replace-the-us-in-the-middle-east) the headline ‘Can China replace the US in the Middle East?’ The question asked here is a much better question than you think. The article (by Erin Hale) gives us “China still does not have the ability to replace the US in the Middle East, where Washington has dozens of military bases and allies it has committed to defending. But Beijing might not want to take on that responsibility yet in any case, experts say” this was part of the short answer and it is a good considerations to have. The problem is that this is based on US sided ‘experts’. People like that have gotten too much wrong, yet are they getting this wrong? That is the larger stage that we cannot answer. You thin you can, but none of is actually can. But there are two more quotes that ‘sully’ the waters here. The first is “the United States has not conducted itself particularly responsibly for the last 20 years”, the second one is “Beijing is viewed as an ideologically neutral trading partner, which has long maintained a policy of non-interference in the domestic issues of Middle Eastern countries, from politics to human rights, making it a less controversial mediator than countries like the US” these two statements are strong. Beijing has no real experience in the Middle East, which also means they have no negative marks against them, which works in their favour. Yet the larger stage of security is in the hands of the US and that looks good in the eyes of the Middle Eastern partners. In addition, the US has more than three dozen military bases in the Middle East. A stage that not only is hard to replace, but there would be indications that China is uneasy trying to replace those. In addition it means a massive contribution of troops to the Middle East, a stage they do not fully comprehend, more important, they are likely to make a mess of certain parts in a time when they cannot afford them. 

This gets us to the second article, which has some links to the first one. It comes from the Middle East Eye (at https://www.middleeasteye.net/news/saudi-arabia-rejoins-worlds-top-five-military-spenders-says-report) where we are given ‘Saudi Arabia rejoins world’s top five military spenders, says report’ and this is the big part. You see, the article gives us that Riyadh spend an estimated $75,000,000,000 last year in military goods (hardware and software). The problem is that as of 2023 onwards a much larger slice of that cake will go to China. The US (EU too) messed up by a lot and that comes at a cost. The second part is that these military base options are to some degree connected to the sale of military hardware, now that is to an increasing amount falling towards China the US needs to do something, but they are left without options at present. We see “Democrat Chris Murphy and Republican Mike Lee – came together to introduce legislation that would require US President Biden’s administration to report on Saudi Arabia’s human rights record and possibly cut off all US security assistance to the kingdom.” A stage that sounds like a threat yet it comes with the opportunity for China and with that opportunity we see a much larger shift in staging. The US made their own bed, would not unite in one view and up to 50 billion will be whisked away from their table. In a stage where the US is one step away from a collapsing dollar and the implosion of its economy they have decided to bite that feeds them. How stupid is that? And in a stage where they could lose more and more oil, promising to make Saudi Arabia a “pariah” is more than bad strategy. You see 67 journalists were murdered in 2022. How much actions were taken? The one that no one gives a hoot about is the poster child for the US, all whilst the evidence was lacking, the United Nations report reads like a joke and still people push that narrative. As such several countries, not just Saudi Arabia are in a stage to hand the US their walking papers. As the MEE ends with “Current and former US officials who previously spoke with MEE were back-footed by the agreement” and that is not all, the off balance part is the smallest detail. You see with all the banking issues, losing billions in revenue will have larger consequences and a new stage. Players like Chengdu will now have a much larger audience in 2023/2024, implying that the Airforce stage that once was will be no more. Both the US and Russia needs to accept that China is now a major player with the buyers that can afford 5th generation fighter aircrafts and that list of people allowed to own one will drastically increase, setting a new problem for the US, the EU and Russia. In all this I personally believe that the die was cast in 2018, some disagree and they are welcome to disagree. Some offer good explanations for their point of view, I might not agree but that is irrelevant. The question for the us is “is the die cast?” There is no real answer coming. Experts that are scared for their income, scared to give anything but a ‘pro-American’ view is fine, until reality creeps in. The reality is that both the US and EU are too close to bankrupt to accept these losses as is. I have no idea what they will do and their own issue is internal as their internal ‘opponents’ are trying to poison the political well. All those people trying to get the deal going get to deal with people shouting anti Islam propaganda and the Middle East has (as I personally see it) had enough of that. Now that China is making headway, the options change and for the US (EU too) not for the better. 

Enjoy the day. 

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April 21, 2023 · 23:29

What at first we don’t grasp

Yes, that is the setting we all face, even me. We don’t get everything, we don’t see everything and we don’t put it all together at a first notion. We think at times that the stage is clear, but it I not. It is made harder by a media that cannot be trusted, that relies on emotions and flames to get digital dollars and at times some of them merely keep silent for whatever reason. In this case (I checked today) according to Google Search, only Reuters and Arab News reported on this. You see, Pakistan has placed its first Russian oil order of 100,000 barrels a day. They did so because it is discounted oil and Pakistan does not have great oil reserves and it has 231 million people, as such for them discounted oil is essential, but that also means that Russia is now getting another flow of cash to prolong the war, more important, it might now have a long standing oil customer. You see, no matter how we feel, Pakistan does not care too much about Europe and more important, the war does not touch them. It feels indifferent, but business is indifferent. Business is what Pakistan needs for its people and its commerce and in this discounted oil matters a whole lot. So what do you think other nations will do? 

As such Arab News gives us “Pakistan has placed its first order for discounted Russian crude oil under a new deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at Karachi port in May. The deal will see Pakistan buy crude oil only, not refined oil, and imports are expected to reach 100,000 barrels per day if the first transaction goes through smoothly, Minister Musadik Malik told Reuters on Wednesday night. “Our orders are in; we have placed that already,” he said.” We might be upset, be might get angry but we need to realise that Musadik Malik can make a case. He must look out for the needs of its country and in a commodity like oil, the discounted version matter a whole lot. People want to get angry, but why? When you get groceries, do you get the brand at $1.99 or the supermarket version at $1.29? Especially when you know that they come from the SAME factory? You feel happy that you saved $0.70 and took that from the factory mouth. I know it is not that simple, because the supermarket orders 10,000 packages to get that discount, but for the consumer it is a saving. So what happens when a nation can get a barrel at $10-$30 less? That is one to three million less and the Pakistani government pockets that savings and they are not the only one with a budget issue. 

Reuters had a photo telling us “People on motorcycles wait for their turn to get petrol at a petrol station in Karachi, Pakistan, November 25, 2021” and that is one queue, Pakistan has them at nearly every gas station, some of these people live from gas tank to gas tank and now the Pakistani government could offer it slightly cheaper. Reuters also give us “As a long-standing Western ally and the arch-rival of neighbouring India, which historically is closer to Moscow, analysts say the crude deal would have been difficult for Pakistan to accept, but its financing needs are great.” And they would be right. The larger issue is not merely how the Pakistani situation is, it is what other nations are in a similar stage, because that matters. When nations can save up to 20% they will take the deal, there I little doubt in my mind and when you explode in anger, just realise that plenty of AMERICAN corporations are still doing business with Russia, I see the list all over LinkedIn with some repetition. There is a website (at https://dontfundwar.com/directory/) were we see hundreds still doing business in Russia. Companies with EU or American origins, as such we need to act locally before we can demand anything international and lets be clear. This is not on Saudi Arabia, no on Venezuela or any other oil producing nation. This is the consequence of a global economy and we better realise that the larger picture is not set in emotion, it is set on cold hard cash and cold needs of board directors and shareholders. The funniest was Credit Suisse (well it was until UBS took over) “Stop new business in Russia while meaningfully cutting exposure by 56%” so in a bank, what is ‘new business’? And in all this what is ‘exposure’? Doing it without a marketing spin, or is there more? 

We might not grasp all elements, we might not see all the elements in play. The list for example does not expose the transitional partners that work via Asia, or Africa as such the question becomes how much scaling back was in place? For one company to stop dealing with Russia and some old granny does it via Sun City for that player is that scaling back? 

The media is all quiet about a lot of it and you get to wonder why. I reckon until someone exposes certain links then they will casually mention it on page 23 of the newspaper to cover their own asses and sone distant link on their website will mention it, well after you repair the accidental broken link. There are many reasons why some act how they do, but the simple reason is money and the revenue they are measured against. A war that impacts global economy is a dirty one. They all ignored the larger impact of Yemen because there was no linked global economy, the same was the case for Syria. Now in the Ukraine it is different and we see all kinds of issues pop up.

Enjoy your discounted meal (and day).

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April 12, 2023 · 07:13

A weird choice of thoughts

I have them at times, not merely during the daytime, at times the ones at night are even weirder. I was in what I think was a Google location. It was extremely sunny and warm, as such I think I might have been in California. I was in the foyer of a building, it was open and spacious. Almost like a circle, there was a circle in the centre where receptionists were working and assisting people. Around me were windows, they had a lower part and an upper part. The lower part was about 80% of the height of the room, the upper part was about 20%. The upper parts were different, they had stained windows, each window had a Google logo in stained glass style, the logo was surrounded by milky white glass. It had an interesting effect on the foyer, the foyer was bathing in colours. Each logo was adding colours to the room, one part was a little less bright, this logo was not surrounded by milky white glass, but by black glass, it was the Stadia logo. As I looked around the foyer I saw the Drive logo, the YouTube logo, the cloud logo, mail logo, calendar logo and several more. I started looking at the people and they all looked stressed, they looked worried, but I could not see a reason. The circle only had 2 of the 5 computers switched on. I started to walk around and I walked up the staircase. People looked frantic they were talking, but they were also looking though papers. I saw in one hall that only one row of computers was switched on. The conference rooms were empty, TV’s were not switched on, the coffee corner had its coolers switched off, or so it looked. There were people all around but it was a population of less than 10% of what was made room for. 

As I walked around I saw more and more people nervous, some scared but not of each other. It seemed to me that there was a massive shortage of electricity, an energy crises unlike any one I had ever seen. I had seen the energy issues on Crete, but it was a minor issue, this was a lot worse and a lot more intense. I could not feel the het, but everyone around me was sweating. The rooms had a distinct Google feeling like I had seen them in Sydney. I looked outside but I saw no ocean, perhaps the angle was wrong. On the other side I saw high rises nearby, at least a dozen buildings. Not sure where I was and for some reason I could not any of the conversations. It was almost like they were talking alien, or I was not hearing correctly, but there conversations were not meant for me, or I was not part of that side, I was merely there to see, to watch and to observe. People were massively underdressed, dressed like they knew it was a 40C degrees day, thin flimsy and mostly covering their bodies in this both men and women had taken heed of slight covering is better than melting away, and with the obvious lack of cold drinks they were relying on water, or so it seemed to me. This is nearly all I saw, I merely heard the words ‘That’s enough’, the only two words I heard in the entire dream. Was someone showing me what will be? It was only a dream and I have no idea why I saw this. I had seen data all over the place, but is this the setting the US will face in the near future? Places that cannot continue because the energy crises is overwhelming places? I have no idea, for me it was merely a dream, but one that felt uneasy, it lacked the comfort I usually have in a dream. A setting where a government due to inaction needs to find a new path, a new approach to satisfy the need of corporations and they all need energy a setting we saw for years but the greed driven were telling everyone that there would be enough time, there would be options. It seems that this setting has been passed and passed without activity. I wonder what will come next and as I am trying to make a tally, Texas, California and New York will need at least two, two and one nuclear reactor to keep on par with the energy requirements, the alternatives will not roll out in time and these reactors would not be build in time either. Yet as I consider that part, I realise that the EU and UK are in similar settings. They have a lack of energy resources and the shortage gap is merely increasing.

It was a weird choice of thoughts to have, but I think it has been fuelled by the decrease of oil, the numbers and numerous tables and charts I was looking at and I think my subconscious filled in the blanks through a story. And it is about to get worse for these places, summer is coming and that implies millions of AC units draining energy from June onwards. In this Texas and California are the strongest places, but New York is another place. The New York Times gave us 11 hours ago “The high cost of natural gas and electricity is prompting many to prepare for outages and shortages.” Yet personally I feel that it is not only the price of electricity, I feel that there will be an actual shortage and in that setting, for the warmer summer states late July through to mid September will be challenge to say the least. In California and Florida, those with theme parks will have their own set of problems and a lack of electricity will be the smallest of issues. A stage that would come, but now it comes sooner and even my dreams have no answers. In part because I cannot tell when the shortages hit, in part because I know very little of the energy solutions that nations have, it is not my expertise, but I do realise that energy can be seen in what is available and what is used and that is a simple tabular setting and as such I understand the shortages that several will face in a summer state in the northern hemisphere and as such when that happens a lot will happen and it will happen all over Asia too. 

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April 11, 2023 · 13:01

It’s a point of view

This happens all the time, we all have a point of view and others have their point of view and they do not completely align. There is no right versus wrong issue, or there could be, but there is every chance that some views are based on three points. Consider a rectangle or a square, they both have points A,B,C and D, but we only see three of them, and with three you can tell whether it is a square or a rectangle, you merely miss one point and base your view on the other three points. It does not matter which point is missing, you get a decent view, but someone who sees A,B and D will draw slightly different conclusions than someone who has B,C and D. Neither is wrong, but they do not complete align because the events that surround these 4 points are different. This is how I see it and as such I took great interest in the Australian Financial Review (at https://www.afr.com/companies/energy/opec-s-gamble-can-the-global-economy-cope-with-higher-oil-prices-20230410-p5cz7f) where we see ‘OPEC’s gamble: can the global economy cope with higher oil prices?’, so whatever you see next, whatever difference I have, I am not dismissing THEIR view. I like their view, I might not completely agree, but they will have another point plotted towards their view. 

And we start with “the risks for the Saudis and the global economy are high if they push it too far. “We have high inflation, economies potentially going into recession, and this is a situation where you need lower oil prices for a short period of time for the economy to recover,” says Adi Imsirovic at the Oxford Institute for Energy Studies (OIES), who once ran oil trading at Russia’s Gazprom.” It is not the first part of the story but it matters. You see, the UK, EU and US are in the metropolitan areas a mobile workforce. Adi Imsirovic can cry for chap oil all he likes, but the setting of ‘lower oil prices’ all you like, but people have been playing that tune for too long and NO ONE is looking at Brent oil on this. You all became a import commodity economy and that comes at a price, especially when you piss off the exporters. In the UK take a look at the laughable CAAT, they were all crying and not to mention Just stop oil group. Now you see the impact of higher oil prices and the players did this to themselves. You cannot push around an ally (Saudi Arabia) and then demand cheap oil, a commodity supplier who can close their own supply valve. 

This also impacts “Abdulaziz also managed to confound those speculators who had bet on falling oil prices after the recent banking crisis sparked new fears about the global economy.” In a stage I warned for for well over two years, the term “confound those speculators who had bet on falling oil prices” is a joke (and a bd one at that). You see, this danger was out there for some time and betting? That is what you do in Las Vegas where the odds are wild and when the US and EU (UK too) decided to make the odds wilder by insulting their proclaimed ally the writing of higher oil prices and less oil was on the wall. And all this was BEFORE China saw its path clear to give the bird to the USA (that gesture with the finger). As such Saudi energy minister Abdulaziz bin Salman did exactly what was required for the good of the Kingdom of Saudi Arabia, it might not reflect on the needs of the cheap oil deliverers, but they could go cry at the fountain of Brent oil but the media does not report on that, Brent Crude (operating on behalf of ExxonMobil and Royal Dutch Shell) might be ‘too big’ for the media. Yet I have not seen anything regarding Darren Woods and Wael Sawan regarding dropping oil prices. Why is that? We see all the fingers towards Saud Arabia, yet Shell beat profit expectations towards $40 billion and ExxonMobile  beat it with $56 billion. And both broke expectations above 150%, as such I have issues with the entire OPEC setting. And when it comes to ‘lower oil prices’ who bet on this on Brent Crude lowering them? I am willing to set whatever I have at present ($0.70) that the amount of gamblers will add up to ZERO. Which makes me $25.2 (not enough for my new apartment). 

So when we get to “Now the question is if OPEC’s surprise cut will raise prices too quickly for the health of a fragile global economy, especially as central bankers continue their quest to tame inflation” no one is looking at the one element EVERYONE is ignoring. Inflation is also tamed buy banks having their donkeys on a row and with Credit Suisse and a few American banks we can say that this is not the case. So when we consider last week revelation by the BBC ‘Swiss probe into UBS takeover of Credit Suisse’ as well as the news only 2 hours ago that there is something brewing with the Viva Energy deal at $1.15 billion, I reckon that inflation issues are a lot larger than merely through oil and it is time that banks are properly looked at, because they are the so called power players in any inflation deal and no one is stopping certain players. Why is that? And when you consider the larger station, no one is acknowledging that commodities are at the power of the supplier and pissing off one of the biggest suppliers whist you shun two others for whatever decent reason (Iran and Russia), you need to reconsider the stupidity of any action against the third player who basically has had enough and now that China sees a larger playing field, they will take that option, especially if they can do it for a few Yuan more. That too is missing from the equation. That gives us a new discussion or consideration. So here is the new setting, it is not whether we were looking at a square or a rectangle, but we were looking at three points of an octagon/polygon. We were seeing the points correctly, but the stage was not properly marked and that makes neither wrong, it makes us both incomplete and consider that I am a mere blogger without a economics degree and the other player is the Australian Financial Review (and many other newspapers), who has the better excuse for not seeing the whole field? Consider that for a moment and consider the people pointing fingers at Saudi Arabia, why are they pointing there and not in other directions as well. In all this I believe that they have the proper reasons, can the same be said for Brent Crude? I will let you decide.

Enjoy the day.

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April 8, 2023 · 00:07

It has holes

There are a number of issues with banks, the latest one is the one I left alone initially. It was the Credit Suisse – UBS issue. 

The initial issue are the holes, like a Swiss cheese, it has holes. In the cheese it is accepted as it is part of the process. But with banks? How many holes can we allow for? Now, the ice is thin here. I am not an economist and I am no banking person, So what do I know? Well, I know infrastructures going back to my Intelligence days, I have seen companies getting gobbled up and in some cases for all the wrong reasons, you see those parts were on paper pleasing, but the reality of it was that reality bites and that is when you feel like a Japanese guy gobbling up a live fish. That is seemingly OK, until the fish eaten is a piranha and it starts eating you from the inside out.

So lets get back to the first article (at https://www.bbc.com/news/business-65177258) where we see ‘Credit Suisse investors angrily confront bank as chairman says sorry’. There we see Ulrich Korner in some stage of apathy. He reminded me of a Dutch political comic in one of their newspapers (a long time ago) where we see “When we get to item 4, it would be best if at least one of the board members start crying”. It felt like a farce, a joke for the stockholders who are about to lose a lot more than they bargained for. The text the BBC gives us is “The loss-making bank had already been struggling for a number of years after a series of scandals, compliance problems and bad financial bets. Mr Lehmann told investors at the Annual General Meeting that management had a plan to turn things around but had been “thwarted” by fears prompted by the collapse of Silicon Valley Bank in the US.” I personally feel like this is misdirection. I personally believe that the US bond issues are stretched on several fronts and as I wrote in previous articles, how did Credit Suisse stock up on the Basel III front? What was the safety gap? It is my personally belief that there was close to none (or at least a lot too little), and now Credit Suisse will be removed and their banks will hoist the UBS logo soon enough, especially with the scandals and bad bets that were made. 

Yet that same day, the Irish times (at https://www.irishtimes.com/business/financial-services/2023/04/05/ubs-chair-says-credit-suisse-integration-will-take-up-to-four-years/) shows us ‘UBS chair says Credit Suisse integration will take up to four years’ that is for banking in these volatile times a massive risk to take and it is not taken lightly, as such I believe that people like Janet Yellen would have been on the phone with a few people. When the American bonds go, the US economy will go and I reckon they will take the Japanese and EU economy into the abyss with them. It is a personal view and I have nothing to prove it with, but the weak response from the media implies that these sources got told to play it cool or face consequences. It is a speculation, but when we take the view I had in the past on Shareholders and stake holders, I belief that I am decently correct and it is a personal view after all.

The Irish Times also gives us “Even with downside protection in the form of government support, there’s a “huge amount of risk in integrating these businesses,” Mr Kelleher, who is from Cork, said in prepared remarks for the bank’s annual general meeting on Wednesday.” The setting is that UBS is getting the bank for three billion Swiss francs. One source tells us “How much a company is worth is typically represented by its market capitalisation, or the current stock price multiplied by the number of shares outstanding. Credit Suisse Group net worth as of April 06, 2023 is $2.76B.” When we see other sources we get “Total assets CHF 531 billion and Total equity CHF 45 billion” this was last year and they have a little over 50,000 staff. I reckon that the bosses there are working on their resume and I would suggest the word ‘scandal’ is written correctly, because involvement in sandal does not go over well in the financial sector. And when you see these numbers, it is all sold for 3 billion? And we see no serious questions from any media. 

So what is left of the assets? What are the bond numbers and total value per nation of bonds acquired. There is no insight of that. Just like the meltdown of 2008 no one is to blame and the US is fixing the carper so that it can hide more dirty laundry. So how long until the people realise that their economy is largely based on an empty egg shell? 

The Irish Times also gives us “Shareholders will receive one UBS share for every 22.48 Credit Suisse shares held” this implies a mere 4.44% of value return for the shareholders, yes their value goes up butt this level of saturation is an issue and I reckon that more banks will follow at some point. Banks will become bad investment for the tax write off and the shareholders will lose out. Don’t get me wrong, I have no real sympathy for them, this is the outcome of shares and stocks. Sometimes you lose. But we need to look back to 2012. In the Netherlands we saw ‘SNS Reaal mulls bad bank for property operations’ (source: Reuters), it was their too big to fail operation and the people were not happy, it was a setting of real estate that was just beyond believe and now we get a similar setting but now it is not real estate, it is banks that are the bad investments and how many of them are holding bonds? The fact that the media never properly investigated this implies that I am a lot closer to the truth than even I am happy about. 

And the last part is giving us ““I understand that not all stakeholders of UBS and Credit Suisse are pleased with this approach,” Mr Kelleher said. “However, all parties, and in particular the Swiss authorities, considered this solution the best of all available options.” – Bloomberg” yes that sounds good, but I have a list (and that is just the Credit Suisse naughty list).

US tax fraud conspiracy, 2014, 2023
Malaysia Development Berhad scandal, 2015
Mozambique secret loans scandal, 2017
US Foreign Corrupt Practices Act violation, 2018
Climate controversy, 2018
Espionage scandal, 2019 (debatable issue)
Greensill Capital, 2021
Archegos Capital, 2021
Forex manipulations conviction, 2021
Drug money laundering scandal, 2022
Suisse secrets leak, 2022 (debatable issue, I still believe it was an NSA activity)
Russian oligarch loans documents destruction after invasion of Ukraine, 2022
Social media rumours, 2022 (debatable)

So 10 issues and 3 debatable issues, but the debatable issues do leave a mess at the front door of Credit Suisse. In all this Credit Suisse is walking around without clean hands, and the hands must always be clean. So does that warrant a CHF 550 billion downgrade? I honestly d not know and there is debate on some of these sources. I get that there will be differences in sources, but this much? This does not make sense, but it makes a lot more sense when we consider where the priority of Janet Yellen is and it is not the bank, it is the USA. Taking her away from the issues and letting it all be phrased by Bloomberg is not acceptable, not in the least. As Baby Herman states “This all smells like yesterday’s diapers”

As I personally see it, this bank issue has holes like we see in Swiss Cheese. 

Have a great day!

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