Tag Archives: Le Monde

$40 per pound

The price of delay is set to $40 per pound, did you realise that? Because in the mind of some, you do not go to war over $80-$800, you give a fine, but what happens when we realise that the mentioned $800 is 10 Kg of enriched Uranium? Then how do we react?

That is the harsh reality that Javad Zarif, the Iranian foreign minister is playing. Not only is the headline insincere and optionally an outright lie, the notion of ‘Iran says it will never build a nuclear weapon‘, is the dream response of any politician siding with the acts of the ostrich and the possum. Playing dead or putting your head in the sand is now the most dangerous of all actions. Even if there is optionally some truth in ‘Islam prevented the country from doing so‘ (no judgment here) there is enough reasonable intelligence that the amount of enriched Uranium in Iran has now surpassed 180 Kg, and that is merely from the sources that can be traced, I feel certain that there are 1-3 sources that remain hidden and there is no way to tell how much there is in these locations, but it is safe to set that amount to at least 2Kg per site, implying that Iran has surpassed the 93% marker. Iran needs time; this is the one moment where they are actually vulnerable. The moment that the first dirty bomb is ready, that is the moment that the window has closed and the countdown begins for some high ranking Iranian officer to do something really stupid as he becomes a self-designed ‘martyr’, at that point it is too late for all of us. At that point Saudi Arabia and Israel have no options left but to wage open war, leaving the UAE, Qatar and Oman in the middle of that mess.

No one wants it, but the politicians are giving us little choice soon enough. The actions against Iran have failed to the larger degree. Even the Guardian (at https://www.theguardian.com/world/2019/jun/25/iran-says-us-sanctions-on-supreme-leader-means-permanent-closure-of-diplomacy) is set to some level of denial (or contemplated avoidance) with “Iran has said it will breach the uranium enrichment limits set out in the 2015 nuclear deal on Thursday, but that does not imply the country is on the path to building a nuclear weapon

USA GE (or is that usage?)

So what else can this be used for. That is an important question because even as it is essential for a nuclear weapon, it is not the only use. Highly Enriched Uranium (HEU) can be used in civil reactors. Yet the danger is not merely that, when it is used and called spend fuel, it can still be used for bombs. In the past we ignored it because handling is critically dangerous on the person handling it. Yet with suicide bombers that danger is negated as they blow themselves and half a city to rubble. The issue is that HEU is not essential for power creation making a lot of the conversation moot. The alternative usage is Medical Isotopes (one Kg would suffice for decades) and as a fuel source for icebreakers (loads of those in Iran) and space propulsion (in light of the current Iranian space program it seems the most feasible one), so as…., oh darn it, Iran doesn’t have an actual space program. Well they do, they were actually one of the earlier players 15 years ago, alas as its budget for the Iranian Space Agency has been lowered to below $5 million, we can assume that they are saving up to launch one in 10 years, so now the USA General Electric reference. In May 2018 we got “General Electric Co. is planning to end sales of oil and natural-gas equipment later this year in Iran, people familiar with the matter said, illustrating how U.S. withdrawal from the nuclear deal is shutting a narrow window of opportunity for some American businesses there” (source: GE), Yet when I searched deeper, I found references (references, not evidence) that there are links between Enrichment Technology Company (ETC, Enritec), towards Areva (source: Le Monde) and when we see the desperate need of €7,000,000,000 there is an opening, and as such, as I found “With a view to cooperation in the field of uranium centrifuge enrichment, AREVA signed an agreement on November 24, 2003 with Urenco and its shareholders under which AREVA will buy 50% of the share capital of Enrichment Technology Company Ltd (ETC), which combines Urenco’s activities in the design and construction of equipment and facilities for uranium centrifuge enrichment, as well as related research and development. The acquisition was submitted to the European anti-trust authorities, which gave their official approval on October 6, 2004. The quadripartite treaty among Germany, the Netherlands, the United Kingdom and France was ratified on July 3, 2006, allowing this agreement to be implemented“, I found what might be regarded as a staged setting, not anything tangible. As we get to the stage of Espionage we get: “In the 1970s, Pakistani Abdul Qadir Khan spied on the Urenco office in Almelo. Thanks to the knowledge that Khan obtained from Urenco, among others, an enrichment plant for uranium in Kahuta (Pakistan) has been replicated using Urenco’s ultracentrifuge technology. This knowledge has also been disseminated via Khan to Iran, Libya, and North Korea“, I personally believe that this was also shared with Iran (at some point), giving them what they need to achieve their goal. It was not done in the 70’s, yet the shifting of funds gave rise that there was a purchase around 2011, yet not merely goods (this is highly speculative), information was optionally bought as well, so even as there is no direct proof, there is the implied stage where under Iranian President Mahmoud Ahmadinejad all the knowledge that Iran needed was available. There are also links to a firm called Nuovo Pignon (Florence), yet to what extent was not clear and there was but one small reference towards “The other shareholders of Eurodif SA are Synatom of Belgium, Enea of Italy, Enusa of Spain, and Sofi dif, a company owned by French and Iranian interests. AREVA NC has a 60% stake in Sofi dif” which we see from 2007 to 2012, so the timeline still fits, in addition to that, when I look at the ‘Report And Recommendations Of The Nevada Commission On Nuclear Projects‘ at [nv1012comm] we see the players like Areva, Synatom as well as Arjun Makhijani, whose name makes perfect sense, yet from page 52 onwards, in his paper ‘The mythology and messy reality of nuclear fuel reprocessing‘, we see the mention of the PUREX process, yet at this point, the fact that Iran has chosen this process 14 years ago is missing completely from the report which is now regarded as odd. This is not some classification issue, it is an intentional omission. We might consider part of this as in page 29: “The Iranian example of building a large gas centrifuge plant secretly provides an example of what could happen in the plutonium arena once the size of reprocessing plants is greatly reduced“, This report from 2010 surpasses the fact that the PUREX process was already in place for 6 years, and it now gives the added speculative option that Iran has already surpassed the 200Kg limit, implied is not proven we accept that, yet when we consider the ‘weight’ of the Nevada Commission on Nuclear Projects and that information is missing or disregarded (optionally reclassified) gives rise that the pressures in Iran are a lot larger, and that problem will not go away by sticking your head in the oil enriched sand, or playing possum.

 

Now, the next part is highly speculative, so feel free to reject or ignore it.

I believe that the Natanz Uranium enrichment complex south of Tehran was the ruse. It did everything it needed to there, but there was at least another place (still speculative) where enrichment was set to surpass at least 60%, I remember the article (at https://www.nti.org/gsn/article/iran-activate-thousands-uranium-enrichment-centrifuges-ahmadinejad-says/) well, yet I was misguided that this was an ego boost for pride, I never considered then that it was misdirection to not look at another place.

Could I be wrong?

Absolutely!

I very much doubt my own views in this, yet the play by Javad Zarif gives rise to the stage that things are not that simple and that their twist to buy time might not be on the up and up and can we afford that mistake knowing what is at stake?

That is part of the problem in all this, we must recognise that America lost credibility for the longest of time (The US and the case of the Silver briefcase), Those who blindly followed it are in not a much better stage and for the longest time, especially in light of the proxy war, the word of Iran cannot be taken as evidence or blindly be trusted. These are all elements influencing the current stage and as the center of attention is Highly Enriched Uranium, the stakes are very much too high.

So when we see: ‘Iran says it will never build a nuclear weapon‘, we have to go with the premise that this is exactly what they are willing to do, even if it means handing of the result to a player like Hezbollah, it makes for a much more dangerous setting that has no resolve but go boom at some stage, and no one can afford to wait for that.

All this comes to the larger orchestral finale when we consider Haaretz (at https://www.haaretz.com/middle-east-news/iran-and-trump-in-nuclear-standoff-what-s-next-for-the-nuclear-deal-1.7406005), where we see: “Iran announced in mid-June that by the 27th of the month it will exceed the uranium stockpile limit set by Tehran’s nuclear deal with world powers, pushing tensions with the U.S. into uncharted and potentially dangerous territory“, so as they claim to reach the maximum tomorrow, I see enough speculative evidence that they already surpassed it by a fair bit, the problem is not on how to act and react, but in this (personal speculated) view (a speculative amount of) 5-35Kg is unaccounted for and there is no guarantee that Iran did not give it to Houthi and/or Hezbollah forces making matters worse by a lot. In all this Russian Deputy Foreign Minister of the Russian Federation Sergei Ryabkov is making matters worse through “Russia and its partners will take steps to counter new sanctions that Washington has said it will impose on Iran“, this stand off for time is what Iran wants, so that they can point at their proxy players when something goes boom and these parties should at that point all be held to account, the problem is that the only way of doing that is to start a war no one wants. The Middle East escalation strategy is in full effect and until we deal with Iran we cannot diffuse the situation, and the fallout of that situation will haunt everyone for decades if it comes to blows. I expect the economy would not survive such a blow.

It is merely my view and optionally all very incorrect, yet the pieces are there for everyone to see.

 

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The Australian Catastrophic Colliding Canine

I tend to keep my eyes on Europe, mainly because what impacts the UK today will have an impact on Australia a week later; in addition to that, what happens in Japan today when it comes to consumer electronics and mobile events will get to Australia 3-5 years later. In that respect having a larger view on matters is essential to keep an eye on what could become an impact tomorrow.

Yesterday was different, with ‘Regulation needed to save Australian journalism from Facebook and Google, watchdog says‘ we see the impact for Australia now and to be honest, I can’t stop laughing at present. The article (at https://www.theguardian.com/media/2019/feb/11/regulation-needed-to-curb-facebook-and-google-competition-watchdog-says)

When I read: “Rod Sims, said the digital platforms inquiry, which delivered its preliminary report in December, reveals that the market power enjoyed by the digital behemoths is weakening Australian media“, the giggles increase. Especially when we consider ‘the platforms are not creating any original, quality Australian news’, well we could consider that the Australian media is for the most not doing that either. For the most Australian media is weakening Australian media plain and simple. To name but a one issue, October 2012, I alerted the media to an issue impacting 30 million gamers within the commonwealth. I directly alerted Channel 7, Channel 9 and the Sydney Morning Herald; the all ignored it to the largest degree. There were clear screenshots on how the impact was given, yet the left it on the left of what was important. A change by Sony for their gaming community 3 weeks before the PS4 was released, they all (except for the Australian Guardian) ignored it for the most, and perhaps it was not news? What they (as I personally see it) intentionally ignored is that the Sony Terms of Service is a legally binding contract, the mention of a memo is merely a piece of paper that could be ignored the very next directors meeting. The press needed advertisement dollars and Sony is high on that list of needs, PlayStation 4 was big bucks, plain and simple. In addition there were debatable reviews of Microsoft for the period of two years and the least said about Apple the better, as I see it Australian Media is its own worst enemy. It is my personally view to size up global media as a collection of prostitutes with a priority towards the shareholders, the stake holders and the advertisers, the audience comes in 4th position at best. So when I see: “However, while taking the lion’s share of advertising revenue, the platforms are not creating any original, quality Australian news“, we need to wonder where Australian quality news is found. I will agree that this is found at SBS and ABC, but they are the two exceptions to all this.

When the British Daily Mail gives us on the 9th of February “Respected Channel 7 news reporter Emily Angwin (pictured) was said to be furious at a number of work emails questioning the integrity of the newsroom in Melbourne” is anyone actually surprised? Is it true? We cannot tell because in many ways most of the Australian media is no longer that reliable. And from my vantage point it becomes worse when we go to https://au.news.yahoo.com/. Here we see above the fold ‘Hero pitbull breaks out of home to find help for owner during gas leak‘, ‘Restaurant blames waitress for ‘incredibly racist’ receipt‘, and ‘‘Whoah!’ Man’s breath test returns ‘biologically impossible’ result‘. This is the kind of emotional reporting that gives news a bad name. Compare that to abc.net.au where we see: ‘Global drug trafficking operation run out of Villawood detention centre, phone taps reveal‘, ‘Missing persons expert slams investigation of young mother’s suspected homicide‘, as well as ‘Why the AWU wants to question Michaelia Cash in court over union raids‘. So one is clearly about news, the other is about creating emotional events. I let you decide which is which, and as we take notice of: “Given all this, it is also vital that media businesses are not disadvantaged through the exercise of market power or other mechanisms that make it difficult for them to compete on their merits” We see that the there is another case in dispute. The dispute is ‘media businesses‘ versus ‘journalism‘, so I hope that the ACCC realises that not only are they not the same, they are at present mere dimensions apart.

And questions need to be asked at the Channel 9 address as well. We can agree that the headlines are better than those of Channel 7 when we see: ‘Exclusive: Vampire Killer Tracey Wigginton’s disturbing new posts‘, ‘Man found with gunshot wound to his stomach in Melbourne’s north-west‘, as well as ‘Snorkeller found dead on sea floor off Mornington Peninsula‘, yet there too we have issues as every news item gives us headers and banners of advertisement. News is news and the main players have resorted to self-indulgence of advertising, reloading at every page. The journalism is merely second best at best.

It becomes a different puppy when we look at the mention “The financial viability of these businesses is also not assured as demonstrated by BuzzFeed and Vice recently announcing redundancies in Australia, as well as worldwide“, you see from my point of visibility, we see the Wikipage part (for mere illustration) where the visible information is: “Originally known for online quizzes, “listicles”, and pop culture articles, the company has grown into a global media and technology company, providing coverage on a variety of topics including politics, DIY, animals, and business.” Now, I have seen those buzzfeeds on my Facebook page and I decided not to give them any consideration (as a news source). Even as we now see (I was honestly not aware) “In late 2011, Buzzfeed hired Ben Smith of Politico as editor-in-chief, to expand the site into serious journalism, long-form journalism, and reportage.” We can accept and appreciate that Buzzfeed was taking a serious gander into journalism, yet when people are not aware (or another part of them has created more awareness), we get the impact of consideration versus awareness and non-awareness loses clicks, it is that simple, and the same applies for Australian sources. For the most, the only Australian sources I give consideration to are: ABC, SBS, the Guardian (Australian edition) and that is pretty much it; the rest is too often a waste of time. When we are serious about news, we go to the places where they offer it, not where they claim to offer it. That is how I personally see it and I use the Guardian as a source (as it is free) and I neglect the Times (most often) as I am not a paid subscriber and I feel it is money not greatly spend when I am, like most others on a budget, as such it is not money I have available to do that. It is an important factor as I am merely one of many that need to get by on a budget, that too impacts the news and the ACCC is a little ignorant on that part as well.

They might want to strike out at Google and Facebook. Yet Google News gives us ALL the headlines, from almost every source and that links to the local news articles. So when we see “The preliminary report recommended a powerful new authority to oversee the commercial activities of Google and Facebook” My question becomes ‘How is that going to make a difference?‘ In the end this is not about journalism, but about media and they are not the same, if the ACCC wants to make an actual impact, looking at the quality of journalism we will see that Australia will be left with the Guardian, ABC and SBS. When we were introduced to: “The Turnbull government has announced a funding freeze for the ABC but a boost for the Special Broadcasting Service“, whilst the boost is a mere $14.6 million over two years, when we realise that this all reads like a joke, how useless is the ACCC in all this and whilst we see the decimated pool of journalists, what are they doing (apart from wasting our time on something that the seemingly see as a waste of effort and budget), it is from my point of view a mere article on the foundation that reads: “Australian media is seen as irrelevant, we do not know what to do“, and it is shown against the likes of Facebook and Google, where we need to realise that they are also two different dimensions. Facebook is a mass advertisement channel, a channel that assumes that they know what their granular population wants through scripted likes and the scripted likes of the connections of that person, and Google shows the news in directions that the people searched in, or searched for. One is budget based, the other is user keywords based and the ACCC is seemingly in the dark on the fact that for the most people no longer see Australian media as relevant. That is shown a mere 34 seconds ago when I searched for “Channel 7 News” in the News tab, I was treated to: ‘Channel 7 presenter makes heartbreaking plea‘, ‘Ripped bodybuilder ends TV interview on a wild note‘, as well as ‘Caesarean birth to be broadcast live on Channel 7‘. As I see it, when it comes to visibility is seems to me that Channel 7 has a lot to learn as to the bidding on keywords as well as their methodology on how to properly position news, as well as their approach on how they want to present the ‘news’ (https://7plus.com.au/seven-news-sydney), for most people a 44 minute newscast is not the way to go (having one is still important for many though).

In the end, as I see it, the ACCC is up against the image of certain channels, their digital policies, as well as the approach they have towards news and advertisers. It is becoming less about journalism and merely about the positioning of media which is done tremendously below average. If you want to see how it should be done, watch The Guardian (UK) and BBC News (also UK), for those with language skills, the Dutch Volkskrant (at https://www.volkskrant.nl/), as well as The Swedish SVT (at https://www.svt.se/). As I personally see it Australian media has a lot to learn and that lacking part is not up to the ACCC, apart from them bashing the Australian media from drowning people in advertisements to a level that is just making them irrelevant. It is merely my point of view and I might be wrong, yet I personally do not think so. The foreign amount of visitors to the Guardian, the NY Times, the LA Times, the Washington Post, and the French Le Monde (at https://www.lemonde.fr/) are indicative of my views.

So in all that, how are regulations going to solve anything in any near future?

 

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French Grape juice and a shipyard

There are issues stirring in the land of grapes and cheese. In France things are becoming slightly restless. Now, I have had my doubts about Emmanuel Macron for several reasons, but not on this. The Express (at http://www.express.co.uk/news/world/834196/France-Emmanuel-Macron-en-march-crisis-polls-fall-French-president) gives us “Several members of French ruling party En Marche! have accused President Emmanuel Macron and party directors of going against the root values of the movement by trying to change the internal guidelines regulating the candidates’ selection process“, which gives my initial response ‘And?‘, you see, being in a new party, being in front and shouting the loudest does not automatically grant the rights to wield a multibillion wallet for defence or healthcare. In the end, the selected party needs to place the right people in the right places, those with knowledge and the ability to push a nation forward. This would have been the one nightmare for Nigel Farage if he had won the elections the last time around. No matter how we feel about UKIP, it is not really seeded with senior cabinet quality fuel. The same can be stated for En Marche! That view is well phrased in “French politics expert Ariane Bogane from Northumbria University told France 24 that the party had justified its decision to change key elements of the movement, such as internal election, by saying that it was in order to avoid “personal ambition,” “rivalry” and “in-fighting”“. So what is going on, is it merely the infighting, or the disillusion of those who did work hard and expected to become part of the French government? Those bragging on the post they are considered for and having to go home realising that the carefully phrased ‘we are considering‘, becomes, ‘we were forced to find the person with the ability much more suiting the expertise required‘? Politics is all about finding the pushing forward party, within the party it will almost never be about to compromise.

Yet the title gives another image. With ‘‘Oligarchy is coming!’ Macron faces nightmare political CLASHES as he PLUMMETS in polls‘ we are confronted with two part. As the express hid in the dictionary trying to tell us that a small group of people is in control in France is not new. Those who keep their eyes open are aware of that, for example, Natixis is surpassing a trillion euro value before the end of 2018, and its 15 members of the board have a large say for well over 20% of France, which is one hell of an impact. I am not referring that they have something to say, like for example Mark Carney as Governor of the British bank, no these 15 can lay down the law in unspoken ways. Actually, one of them had a (large) setback as the Wall Street Journal reported in 2014 with “Henri Proglio’s contract as chief executive of Electricité de France SA, sidelining a powerful businessman who has been close to the country’s center-right political camp“, yet there are several indications that this was merely a resignation on political grounds as some equally powerful players got to feel the heat of more than the mere risk of the Hinkley Point C nuclear project (yet, we will remain silent on those accusers, won’t we Credit Agricole SA?); in all this, the players have a point as the costs at one point was expected to surpass over 10% and on £18 billion it starts to add up fast. This is merely part one, in part two we need to look at the plummeting and so on. Yet overall, why becomes the question. I think it is more than that the current president is a mere former banker. In this the Independent (at http://www.independent.co.uk/news/world/europe/emmanuel-macron-popularity-rating-plummets-french-president-worst-in-20-years-july-ifop-budget-cuts-a7856986.html) gives us “Results come after the 39-year-old former banker unveiled key budget cuts in public spending and military finances – a move which has been heavily criticised“, which might be a valid reason for some to nag, yet what they forgot is that the previous administrations left France with a minus €2.1 trillion on the French governmental credit card and their economy is nowhere near the English one. In addition, France has a mere 64 million people, do that equation as debt per person bites in equality. The money is gone! The UK has been in this mode for well over half a decade and the French better wizen up fast, because the people now complaining had not as much as a hard time because harsh changes were required as early as 2010, nothing in that regard was seriously done. Another quote is “Mr Macron ended up overruling his own prime minister by vowing to go ahead with tax cuts in 2018, and plans to cut housing benefits were received unfavourably“, which everyone sneers at (the decision that is), yet perhaps you remember the French actor Gérard Depardieu who moved to Russia of all places because of outlandish taxation. When we consider some of the French numbers, we see the quote “less than 50% of inhabitants in France pay any income tax at all; only around 14% pay at the rate of 30%, and less than 1% pay at the rate of 45%” (source French Property). Under those conditions, we might expect that plenty have to complain about housing benefits, it might well be those not paying income tax at all. So when we see housing benefits, whilst the French are down well over 2 trillion, we have to consider how valid the polls are, perhaps better stated how fair they are one Emmanuel Macron. We all knew that the promises made by Emmanuel Macron would be hard to keep, yet not impossible. As a banker he knows that if the tax hike works and the hike become thousands of jobs, he has a start, the one thing about the French is that they are proud, yet those who are part of this Oligarchy tend to invest nationally as that is where their power and influence are.

For this we make a small sidestep to the dictionary. You see there are difference (which is also odd)

In the Cambridge dictionary we see “A type of government by powerful people in a small group is called oligarchy“, Merriam-Webster gives us “A small group exercises control especially for corrupt and selfish purposes in a type of government” and Oxford states “Oligarchy is a type of government controlled by a small group of people” so as we see the En Marche group cry in a Merriam-Webster style, whilst the reality is that the reality is merely the Oxford/Cambridge application of the issue. None of them invoke a social governing and even as the En Marche people are now moving towards Fascism accusations (none have been formally made at present), we need to realise that none of it matter if the French economy does not make a decent step forward. The social structures have drained the French nation too much. France has seen strike after strike; the French labour unions are a debilitating power, a fact even acknowledged by many French citizens. Now, I have never been against labour unions, yet they have to realise that their time as they perceive themselves to be is over, if the French have to default even once, their existence stops, the money flow stops and that will change the game forever in France. There are other parts and there is an issue whether a blame game applies. We have heard for some time on labour reforms, and even as we see the validity due to massive French debts, in this Bloomberg offers (at https://www.bloomberg.com/news/articles/2017-07-24/macron-s-uphill-battle-against-france-s-labor-law-quicktake-q-a) questions and answers that I now can avoid. We know that there are issues, yet it comes from a civil law system, with the French labour code set in over 3000 pages, as such reform now becomes essential. We see reports like “French unions say making it easier to fire people won’t create jobs, and that unemployment results from the tight budget policies forced by EU-imposed austerity“, this is not an invalid response (read: consideration), yet in equal measure we see that there is little space for short term jobs and as such, backpackers all over Europe get to take some of the economic cream from the top of the revenue, something that might be valid work for the French, yet some of them are not going near any short term jobs in hear of long term consequences. The Bloomberg quote “His three immediate predecessors all viewed France’s labour laws as too restrictive. In 2003 and 2005, Jacques Chirac managed to loosen the 35-hour cap on the working week, making it easier and cheaper for companies to add extra hours. In 2008, Nicolas Sarkozy cut taxes on overtime work and made it simpler for individual workers to negotiate their own departures. And Francois Hollande’s reforms of 2013 and 2016 made it easier to justify layoffs due to a downturn in business” is the clearest one, you see three administrations have seen the folly of the labour restrictions. Whether the unions are in fear of the power they wield, and the fear of how they become obsolete, that is how I see it, four administrations realise that companies with 49 have growth limits, pushing themselves into foreign ground through partnerships when it becomes an option, slicing the French economy at least twice in a negative way.

The second issue is less on the things he does and more about how it is done. The New Statesman is referring to ‘the Macron Con‘, the Evening standard is all about ‘shedding the banker image‘ and some have even less nice things to say, yet some is of his own volition, with ‘My thoughts are ‘too complex’ for journalists, says Emmanuel Macron‘ the Telegraph paraphrases “An Elysée official told Le Monde newspaper that the 39-year-old centrist leader’s “complex thought process lends itself badly to the game of question-and-answer with journalists” that is held every year on the July 14 national holiday“, it is not a good way to make friends in that area of people who still at times laughingly refer to themselves as ‘journalists‘. It now becomes the question how they will see and report on the STX France nationalisation. In this there is validity to at least some degree. There is no guarantee that the Italians will keep it as is, there is no guarantee that there will not be a ‘transfer’ of grounds towards very different applicable destinations. When we consider USA Today as a source with: “STX France is the only shipyard in France big enough to build big warships. It’s also a significant employer in France“, if so, can anyone explain to me how handing it to the Italians was a clever move to begin with? If the EU will builds its force on EU ground, than France would fare a lot better keeping the one place where they could be build French property, that is merely good business. In addition, as it is still doing jobs, which are unlikely to be completed before the end of 2018, how is changing hands of the shipyard a good idea?

There is no doubt that the STX war is not over and I am not even going to speculate how this will turn out at present, you see being pre-emptive is one thing, the danger is that some shareholders will offer what they have in different ways to get the most out of their shares and greed can make a shareholder creative in getting the coin they expected. Yet, Trikkles (at http://trikkles.com/2017/07/28/french-government-to-nationalize-stx-france-economy.html), gives us “President Macron jettisoned his pro-business agenda and threatened to nationalise France’s leading shipyard to prevent its takeover by Fincantieri“, is that true? Keeping STX French might be very pro-business indeed. If it becomes Fincantieri property, there would be consequences. The Higher echelons could end up being replaced by Italians, so that is a chunk of funds not remaining in France, in addition, with procurement scandals first in Taipei in 2000 and now in India 2016, there are other considerations to make, so there are issues beyond the ship that is to be build. The interesting part is that in the entire emission control solution, I would have thought that they would focus on bringing jobs to the US, not ending up with a French place and getting loads of Americans and Italians to Normandy, let’s face it, it is no longer 1944.

In all this Emmanuel Macron seems to be getting a rough time. As the newspapers focussed on the largest drop, it seems that they are all in denial that both the UK and France are merely two players who have an astronomical deficit to deal with. In all this the Financial Times gives us another view (at https://www.ft.com/content/c826f982-7383-11e7-93ff-99f383b09ff9), as they state “Macron’s pro-EU stand is tested by Italy on the waterfront“, some will call it ‘betrayal’, yet who voice that and for what reasons? Here we also see the quote from Pier Carlo Padoan as he accused Mr Macron of abandoning his professed “pro-Europeanism and liberal values” by his decision to take STX France. So is it non-liberal or an essential step not to endanger the Normandy economy in the longer run? As we realise that STX is one of the few places in Europe where building an aircraft carrier is possible, as well as the fact that the largest cruise ship in history is getting build here, why leave it to the Italians? In this, the quote “Fincantieri had pledged to keep jobs and orders in France for five years” reads like a hollow joke, it merely not mentions that after 2022 syphoning the French economy towards Italy would be a given and with the French economy being a mere 1%, that syphoning could potentially kill the French options. So when I see the additional hollow quote “and Italian ministers rightly point out that Mr Macron’s demand to renegotiate suggests a lack of trust“, would that be a lack of trust, or a lack of Italian consideration when the clock strikes August 1st 2022?

In this there is one part that the complaining French seem to fail to grasp, if STX is only the first of a few reallocations to foreign owners, how deep in unemployment could France get? I have in the past never professed to be any kind of consideration to bankers like Emmanuel Macron, yet in equality I have been for the most always been on the side of giving all a fair chance, it seems that the French are not giving that to Emmanuel Macron, which as French citizens is their right (freedom of speech and so on). I merely hope that these people are looking further forward than the issues due next week, because in the long run France will need to adjust to a larger degree, the question becomes how and that is the issue that the previous 3 administrations have fought over for the longest time of their administration.

 

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Despite the missing facts


The UK is in all kinds of shambles, some could have been prevented, some remains unclear and some are just due to the whims of media. So when I saw ‘Britain is leaving the EU – just as Europe is on the up‘ I decided to take a look, because it is ‘on the up‘ that is an issue. Former editor of Le Monde (high quality French newspaper) Natalie Nougayrède gives her views (at https://www.theguardian.com/commentisfree/2017/jun/18/brexit-europe-eu-golden-decade-merkel-macron) with illustration and all. Yes, it is the image that shows how far away the UK is. Of course the article starts with Helmut Kohl, there is nothing like the death of a politician to milk the issue as much as you can. Yet it is the quote “Angela Merkel and Emmanuel Macron are, as Britain prepares to leave, readying their ambitions and vision for the continent“. Is that so? Leave it to a former investment banker to shed his skin like a serpent on the change of any wind. Didn’t he promise certain hard changes? We can tell you now that this is a change he did not keep, which is not that much of a surprise. You see, the people who would not give him the light of day are now talking the talk he comprehends. Credit Agricole Group, BNP Paribas, Society Generale, Natixis. Yes ,as president of France these people will now call on him, woe him and explain on the need of the gravy train. Yes, Emmanuel Macron will definitely show a few more changes before the year is out. It is the next quote that should scare the French and not by a little bit. with “The thinking goes like this: in the next two to three years, as France carries out structural economic reforms to boost its credibility, Germany will step up much-needed European financial solidarity and investment mechanisms, and embrace a new role on foreign policy, security and defence.” With ‘boost its credibility‘ can be pushed in deeper debt. So as France is currently well over 2.2 trillion euro in debt, that debt could be even greater, which is good for the earlier mentioned banks, but for the freedom of the French people it is not that great a move. and why do we see: ‘embrace a new role on security and defence‘? France has a clear need to embrace more security and safety for France and the French, yet the need of adaptation of a new role implies a consolidated European army which is not just counterproductive, it could spell a dangerous waste of trillions of euro’s all over Europe. The biggest issue is however “Europe’s economic situation has improved. Unemployment in the Eurozone is at its lowest since 2009 (but still at 9.5%). Growth has returned. Mario Draghi, the head of the European Central Bank, speaks of “a solid and broad recovery”“, which is an issue on more than one front. First by his own view, Mario Draghi gives us: “inflation in the currency area sank to 1.4 per cent, which is below the bank’s target, although Mr Draghi said “deflation risks have definitely gone away”“, which is part of the story, the Swedish Nyhetsbanken gives us: ““The ECB is essentially in a holding pattern”, said Patrick O’Donnell, a fund manager with Aberdeen Asset Management in London“, which also giving us the goods with: “We expect the European Central Bank to announce in September, when new forecasts will be available, that tapering will begin in January as deflation risks have vanished“. This is all nice, yet it is all linked to Mario Draghi increasing the debt to Europe by 60 billion Euro’s every month, the total should increase the total debt by close to 2 trillion Euro over the two waves of ‘easing’, so when you see ‘economic situation has improved’, the question is for who did the situation improve? The European quality of life is far below what it was in 2008 for roughly 99.999456% of the people of Europe.

Interesting how Natalie Nougayrède skates around that part and with the German-France union. So, should we see this as perhaps a Union of the Somme, or perhaps the Merger of Artois? We can agree that ‘Europe’ would like to continue without the UK and they would want to steer in a direction that gives them the best options. Yet the clarity of denial, that claims are made whilst none of the governments in the EU can keep a decent budget, whilst they are all in deficit and France in truly deep debt. Whilst Greece is still bleeding all over the place, and on top of that Mario Draghi is printing 60,000,000,000 euro’s every month with no value against it. In all this we see more denial of events. So when I see the quote “But in recent discussions with European experts and officials, I heard the following comment: “A golden decade may be dawning for Europe.” A new narrative is in the air“, a golden dawn for whom? The banks, the exploiters? I would like to see the names of those officials and politicians. I am certain that those names will remain absent. It will be from people who are already wealthy beyond normal and this gravy train is fuelling their golden future day after day, whilst the serious reality is that for those retiring in the next 20 years, they will not have anything left, they are more than not in danger of having to work until their dying day.

So as we see the end of the article with “After a decade of crisis, Europe may now be pulling out of it. More British awareness of this might help avert bad choices.“, yes there are plenty aware of what is presented, yet as nobody seems to be able to muzzle Mario Draghi, as he keeps on pushing Europe into deeper debt whilst the offset is not seen in the presentation ‘Europe’s economic situation has improved‘, many people are getting more and more weary of the issue ‘what else are we being kept in the dark about?‘ This is important because the mistrust is actually growing. The media seems to be all about aiding those who advertise, giving rise to more misinformation. Yet the clear article that shows the whole picture is missing. Even here, in my blog the article is incomplete (and I actually admit to that), because the issue has grown beyond the mere image we can see. We can go to the art-house and watch the painting, but the wood behind the painting, what keeps up the image is not shown, so as the painting is geared again and again with more wood, with more nails and with more support, the people do not see that the painting is gaining weight more and more. The cost of that reinforcement is hidden from view whilst the image it supports remains the same, losing value day after day. Whilst a work of art increases in value, the paining is merely the view from our own window, the value resides with the person looking at it. So look out of your window, it does not matter which window, now consider that the actual value of the view lowers by 0.1% every day, how long until you feel that the house you own does not offer the view you paid for? Now consider that your house has a view valued at £0, what will you lose when you try to sell it? In France houses fell in value to 25% according to some. So as your house lost that, it means that you must keep on living there, which is of course not necessarily a bad thing when you have a nice house in Cognac, yet what happens when the place is in need of repairs, with a full mortgage whilst the value decreased 25%. Can you still repair your place? That is the danger we are in as retirement approaches for millions. The part that Natalie Nougayrède ignores as she probably has a really nice place, perhaps more than one. For tens of thousands of French, living in Cognac (16100) is a dream hat will never become a reality. That whilst the debt of France only increases, and that whilst the European non elected players are increasing the total EU debt whilst maximising the national debts of its members. It is only the board members of the banks that have reasons to smile. That is France and the UK is in a place that is not dissimilar. As people in the UK are pushed towards an anger over a building on fire, as they are outraged over what happens in Finsbury Park. You see, this all matters as it is the first true extremist action from a non-Muslim to a Muslim in London. The air is definitely changing, but not for the better and Europe could be a cauldron of extreme violence from several sides. So as we see and revisit “A European Defence fund is now being discussed, notably for joint procurement efforts” as well as “embrace a new role on foreign policy, security and defence” we need to ask, with what money? As I read it, it seems that some politicians are spending certain funds three times over, implying that debt will rise three times faster. Or perhaps it will be taken out of the national defence budgets? That should go over well when the national defence equipment breaks down whilst pushing the funds into some virtual non military defence setting. It should make any nation more secure! (read: sarcasm in action). Oh as for those needed security upgrades like from Palantir and whatever Raytheon IIS seems to be cooking up at present. So where are these billion dollar plus events getting funding from? So we might think that there is an upbeat to Europe, which would be nice, how good is that view when you contemplate the missing elements and those are just the ones I mention. I am not the European gatekeeper, so there are several issues on both sides of the isle I have not even considered myself.

In the end, I feel that the people of Europe will get a very ruse awakening in January 2018 when the total ludicrous spending by Mario Draghi is set in its complete lighting. At that point will you still feel happy? So as you consider that, consider the reason I mentioned Greece earlier. When we read: “ECB needs ‘more clarity’ on debt relief to buy Greek bonds” (source: Reuters). So as the ECB is buying the Greek debt, or perhaps better stated, invest into Greece and its inability to push the economy in a positive forward momentum. Is this a good or a really really bad investment? Don’t get me wrong, I am happy to aid the Greeks to get some relief, but as the Greek government let the culprits of the debt fiasco walk free with their millions, why should non-Greeks pay for that? So when you see “The European Central Bank needs more clarity on what kind of debt relief Greece will get from its international creditors if it is to buy Greek government bonds as part of its monetary stimulus program“. What stimulus? How will the Greek economy get any level of incentive whilst the creditors are still due billions? How misguided is the action (in light of the proclaimed reason)? And of course the IMF will get involved meaning that Wall Street will start giving out ‘advice’ soon thereafter. These steps are just beyond acceptable as the laws of prosecution against the transgressors are stopped and made toothless. So as Europe ‘embraces‘ wave after wave of additional debt, do you still think that the European economy is on the up, or was not listening to the UK a really bad idea? For France it is now too late. As Emmanuel Macron embraces the limelight with Angela Merkel the French will soon see that even as Marine Le Pen was never a given good, at least she was intent of getting France away from the Financial Vultures. Whomever thought that Marine Le Pen was an unacceptable idea, might feel to be on the political moral high ground, yet when their house depletes their value, those persons will not be allowed to complain. They set up the dropped value and accepted the terms of dissolving their value. In this I could have been incorrect only when the ECB did not decide to push quantative easing into play at sixty billion per month. And that is only if clear economic upturn could be proven, yet that too is not the case, it only seems that way when taking the QE out of the balance book. At best the European economy is merely stable at 0%, which means that it is going down by 60 billion a month (plus interest). An element I only mention at the very end because that part is not a clear given and even at 0.1% that requirement grows by 60 million per month, an amount that could have clearly solved a few European issues, and as that also grown by the same amount every month, what other solutions will need to get scrapped?

It is possible that I too missed a few facts, yet did I miss any on the positive side of it all? So at best me missing elements will show the situation to be worse, far worse.

So happy Monday to you and if you feel like hanging yourself, www.cheaprope.co.uk will have what you need, just not want you want.

 

 

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