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Copper Global News

Signature Bank becomes next casualty of banking turmoil after SVB

Signature Bank becomes next casualty of banking turmoil after SVB

 

March 12 (Reuters) - State regulators closed New York-based Signature Bank (SBNY.O) on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits.

The Federal Deposit Insurance Corporation (FDIC) took control of Signature, which had $110.36 billion in assets and $88.59 billion in deposits at the end of last year, according to New York state's Department of Financial Services.


 All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S. Treasury Department and other bank regulators said in a joint statement. 


Employees appeared to gather at the company's Manhattan headquarters for meetings on Sunday, ordering catering from Carmine's, an Italian restaurant, and Starbucks coffee, according to a Reuters reporter on the scene. People trickled out of the building after the news of the closure was announced.


Representatives for the lender did not immediately respond to a request for comment.

Signature's failure followed Silicon Valley Bank's Friday shutdown, the second largest in U.S. history behind Washington Mutual, which collapsed during the 2008 financial crisis.

Investors were unnerved by the speed at which startup-focused SVB, the 16th largest lender in the U.S., was toppled by customer withdrawals. The episode last week erased more than $100 billion in market value from U.S. banks, prompting swift action from government officials over the weekend to try and restore confidence in the financial system.

Crypto Bank Silvergate Collapsed

Signature Bank becomes next casualty of banking turmoil after SVB

Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups.  

  • LUC OLINGA
  • MAR 10, 2023 1:34 PM EST

 

It's a black week for the American financial system: In just 48 hours, the banking sector has been shaken by the collapse of two major banks.


Most worrying is that these banks served two so-called growth economic sectors: the tech sector and the cryptocurrency industry.

SVB Financial Group,  (SIVB) - Get Free Report the lender to Silicon Valley startups, failed on March 10, falling into the hands of the FDIC. The federal agency has taken control of the banking company, reviving the ghosts of the 2008 financial crisis.

  

"Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver," the federal agency said in a news release.

"All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds."

US tanks will be ‘destroyed’ in Ukraine – Moscow

FILE PHOTO: A US Army M1 Abrams tank is seen during the Getica Saber 17 exercise in Cincu, Romania, July 10, 2017. ©  US Army / Spc. Kelsey M. VanFleet 


 Russia’s envoy to the US said Washington seeks to inflict a “strategic defeat” using Ukraine as a “proxy” 


Any American battle tanks sent to Ukraine will be destroyed by Russian forces, Moscow’s ambassador to the United States has warned, after media reports said the White House now plans to supply Kiev with heavy armor despite its previous refusals.

Asked about the potential shipment of the M1 Abrams main battle tank to Ukraine, Russia’s ambassador to the US, Anatoly Antonov, said the move would only escalate American involvement in the conflict and goes far beyond offering “defensive weapons.”

“If a decision to transfer to Kiev M1 Abrams is made, American tanks without any doubt will be destroyed, as all other samples of NATO military equipment,” the envoy said, adding that “The Americans are constantly raising the ‘bar’ of military assistance to their puppet government.”


 Though the White House previously rejected Kiev’s demands for the M1 Abrams – which was featured on a Christmas 'wish list’ circulated by Ukrainian officials around the holiday – on Tuesday multiple news outlets reported that Washington had reversed course and now intends to send the hardware after all. An announcement could come as early as this week, the reports said. 

Türkiye puts NATO expansion on hold – media

 The national flags of North Atlantic Treaty Organization member states are seen at NATO headquarters on October 12, 2022 in Brussels, Belgium © AFP / Kenzo TRIBOUILLARD/AFP 


Türkiye has called off a three-way meeting with Sweden and Finland, leaving the two Nordic nations’ plans to join NATO in limbo, Turkish state broadcaster TRT reported on Tuesday. Relations between Ankara and Stockholm took a nosedive over the weekend, following a sanctioned Koran-burning protest outside the Turkish embassy in the Swedish capital.

TRT’s report, citing anonymous Turkish diplomatic sources, claimed that the meeting, scheduled for next month in Brussels, has been postponed at Ankara’s request.

A source in the Turkish presidency stressed that the decision was not a cancellation, but rather a deferment, with no specified time frame. President Recep Tayyip Erdogan’s office declined to comment offically, when approached by the media. 

 On Monday, the Turkish head of state made it clear that Sweden “will not receive any support from us with regard to NATO” due to Stockholm’s failure to show respect to the “faith of the Republic of Türkiye or the Muslims.” 

Why US-China trade is on track to break records despite all the politics

Why US-China trade is on track to break records despite all the politics

US Treasury Secretary Janet Yellen and Chinese vice-premier Liu He and their respective delegations wait ahead of their meeting in Zurich, on January 18, 2023. ©  SEBASTIEN BOZON / AFP  


Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen met in Switzerland last week to manage differences and “prevent competition from becoming anything ever near conflict.”

It was the highest-ranking contact between the two sides since their respective presidents met last November – and it couldn’t be at a better time. Amid all the talk of decoupling, the importance of the US-China relationship looms large.

According to a recent Bloomberg report, trade between the US and China is on track to break records despite heavy talk from Washington politicians of decoupling from the Asian powerhouse. The report says this is “a signal of resilient links between the world’s top economies amid the heated national security rhetoric in Washington.”

Doomsday Clock signals highest ever peril level

Why US-China trade is on track to break records despite all the politics

The clock moved 10 seconds closer to human destruction

By Chloe Kim BBC News, Washington 

 

The symbolic Doomsday Clock has moved closer than ever to midnight, declaring humanity perilously close to catastrophe.

The clock, set to 90 seconds to midnight, marks how close our planet is to complete annihilation because of man made actions.

The Bulletin of the Atomic Scientists (BAS) said the clock moved, in large part, because of the war in Ukraine.

The idea began in 1947 to warn humanity of the dangers of nuclear war.

The hands of the clock are moved closer to or further away from midnight based on the scientists' reading of existential threats at a particular time. Midnight marks the theoretical point of annihilation.

The decision is made by the BAS science and security board, which includes 13 Nobel Laureates. This year the announcement was made available in Ukrainian and Russian as well as English, due to the war in Ukraine.

The board stated that the war has raised profound questions on how nations interact, as well as an apparent downfall in international conduct.

"Russia's thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict - by accident, intention, or miscalculation - is a terrible risk," it said.

The other threats mentioned this year include climate change, biological threats and disruptive technologies.

"The war's effects are not limited to an increase in nuclear danger; they also undermine global efforts to combat climate change," said the statement.

Countries dependent on Russian oil and gas have now sought out other natural gas suppliers.

HOW TO READ THE DOOMSDAY CLOCK: 

And as the world continues to experience fallout from Covid-19, the board said world leaders will need to continue to identify and address biological risks - whether the origin is natural, accidental or intentional.

A pandemic, the board said, is no longer a once in a lifetime risk.

In 2020, the clock hands were moved 100 seconds closer to midnight. The following years, in 2021 and 2022, the clock hands stayed at the same place.

The farthest away the clock hands have ever been was right after the end of the Cold War - at 17 minutes from midnight.

Rachel Bronson, CEO of the Bulletin of the Atomic Scientists, said though humans created these problems, the board also believes humans can reduce the risks with global engagement.

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

German Chancellor Olaf Scholz announced the decision after weeks of reluctance and international pressure

By Bernd Debusmann Jr, George Wright & Antoinette Radford BBC News, Washington and London 

 

After weeks of reluctance, Germany has agreed to send Leopard 2 tanks to Ukraine, in what Kyiv hopes will be a game-changer on the battlefield.

Chancellor Olaf Scholz announced the decision to send 14 tanks - and allow other countries to send theirs too - at a cabinet meeting on Wednesday.

US President Joe Biden's administration is also expected to announce plans to send at least 30 M1 Abrams tanks.

A Kremlin spokesman earlier said the tanks would "burn like all the rest".

 

Dmitry Peskov said there was an overestimation of the potential the tanks would bring to the Ukrainian army, and called the move a "failed plan".

But Ukrainian officials insist they are urgently in need of heavier weapons, and say sufficient battle tanks could help Kyiv's forces seize back territory from the Russians.

A German government spokesperson said the decision to supply the tanks "follows our well-known line of supporting Ukraine to the best of our ability".

Germany also permitted other countries to send their Leopard 2 tanks to Ukraine - which was restricted until now under export regulations.

  • What weapons are being supplied to Ukraine?
  • 'We need Western tanks - my tank's as old as me'

The US and Germany had resisted internal and external pressure to send their tanks to Ukraine for some time.

Washington cited the extensive training and maintenance required for the high-tech Abrams.

Germans endured months of political debate about concerns that sending tanks would escalate the conflict and make Nato a direct party to the war with Russia.

US media is reporting that an announcement regarding Abrams shipments to Ukraine could come as soon as Wednesday, with unnamed officials cited as saying at least 30 could be sent.

However the timing remains unclear, and it could take many months for the US combat vehicles to reach the battlefront.

German officials had reportedly been insisting they would only agree to the transfer of Leopard 2s to Ukraine if the US also sent M1 Abrams.

"If the Germans continue to say we will only send or release Leopards on the conditions that Americans send Abrams, we should send Abrams," Democratic Senator Chris Coons, a Biden ally, told Politico on Tuesday.

Britain has already said it will send Challenger Two tanks to Ukraine.

China Covid: Coffins sell out as rural losses mount

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

Demand for coffins in some rural areas has spiked

By Stephen McDonell in Shanxi BBC News 


The BBC has found evidence of a considerable number of Covid-related deaths in China's rural regions, as the virus spread from big cities to more remote areas with older populations.

In Xinzhou region of northern Shanxi province the coffin makers have been busy. We watched the skilled craftsmen as they carved elaborate decorations into the freshly-cut wood. Over recent months, they say, they haven't had time to stop.

One villager, a customer, told us that at times the coffins have sold out. Laughing with a dose of the black humour you find in the area, he added that those in the funeral industry had been "earning a small fortune".

There has been much debate about the real number of Covid deaths in China, after the virus ripped through its megacities.

Some 80% of the population - more than a billion people - have been infected since China scrapped restrictions in December, according to leading epidemiologist Wu Zunyou. Last weekend China reported 13,000 Covid-related deaths in less than a week, adding to the 60,000 deaths it has counted since December.

But these deaths have been in hospitals. In rural areas there are only sparse medical facilities and those who die at home are mostly not being counted.

There is not even an official estimate for the number of village deaths. But the BBC found evidence the death toll is mounting.

We visited a crematorium and they too have been busy, mourners dressed in white walking forward carrying the ceremonial box which would eventually contain the remains of a loved one.

In another village, we saw one man and woman loading huge tissue paper birds onto the back of a flatbed truck. "They're cranes. You ride the crane into the afterlife," the woman said.

As they packed up other elaborate, Buddhist images newly made from tissue paper they said they'd had an explosion in demand for their funeral decorations, two or three times what's normal.

Everyone we met in this part of Shanxi who is connected to the funeral industry told us a similar story about an increase in deaths and they all attributed it to the coronavirus..

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Quiet No More: China's Military Is Now a Force To Be Reckoned With

Quiet No More: China's Military Is Now a Force To Be Reckoned With

us Secretary of State Antony BLinken attends a plenary session of the G7 summit in Liverpool, Britian, December 11, 2021, Phil Noble, Reuters

Text by: FRANCE 24


 US President Joe Biden on Saturday said he told Russian President Vladimir Putin that Russia would pay "a terrible price" and face devastating economic consequences if it invaded Ukraine. 


 Biden told reporters the possibility of sending US ground combat troops to Ukraine in the event of a Russian invasion was "never on the table", although the United States and NATO would be required to send in more forces to eastern flank NATO countries to beef up their defences. 


 

"I made it absolutely clear to President Putin ... that if he moves on Ukraine, the economic consequences for his economy are going to be devastating, devastating," he said after remarks about the deadly tornadoes that hit the United States on Friday.

Biden, who spoke with Putin by telephone for two hours last week, said he had made clear to the Russian leader that Russia's standing in the world would change "markedly" in the event of an incursion into Ukraine.

A senior US State Department official had earlier told reporters at a meeting of the grouping's top diplomats in Liverpool, northwest England, that Moscow still had time to change course.

"But if they choose not to pursue that path,  there will be massive consequences and severe costs in response, and the G7 is absolutely united in that," the official said.

 

"A large number of democratic countries will join us in imposing costs," they added.

These warnings came as Russian sabre-rattling against Ukraine and how to counter an increasingly assertive China dominated the first day of a two-day meeting of G7 foreign ministers in the British city.

The meeting – at which ministers want to present a united front against authoritarianism – is the last in-person gathering of Britain's year-long G7 presidency, before it hands the baton to Germany.

Opening the talks, Britain's Foreign Secretary Liz Truss told delegates: "We need to come together strongly to stand up to aggressors who are seeking to limit the bounds of freedom and democracy.

"To do this, we need to have a fully united voice. We need to expand our economic and security posture around the world."

Truss, in the job since September, set out her foreign policy vision in a major address on Wednesday, echoing US threats of unprecedented sanctions if Russia invades Ukraine.


 

Western concerns are growing over a Russian troop build-up on the border that the Kremlin says is defensive against any move by the former Soviet state eastwards towards NATO.

G7 ministers want to show the grouping can move beyond condemnation to robustly defend its values as a deterrent to future threats..

China rejects findings

US Secretary of State Antony Blinken flies on to southeast Asia next week on a visit designed to highlight the region's importance in Washington's push for "peace, security and prosperity" in the Indo-Pacific region against China.

Britain's G7 presidency has been dominated by responding to Beijing's alleged widespread domestic rights abuses, as well as creeping authoritarianism in its former colony, Hong Kong.

This week, a panel of human rights lawyers and experts in London concluded China had committed genocide by imposing population restrictions, including birth control and forced sterilisations, on its Muslim minority Uighurs. China rejected the tribunal's findings. 

Biden has pushed the G7 for a stronger collective stance towards both Russia and China, and this week saw Washington, London and Canberra announce diplomatic boycotts of the 2022 Beijing Winter Olympics.

In Liverpool, delegates want to end the "strategic dependence" of a growing number of low- and middle-income countries on the G7's adversaries, in various areas from energy to technology.

Attendees are being pushed to provide those countries with more finance for infrastructure and technology projects, according to the foreign office.

G7 countries and their allies must offer "an alternative to unsustainable debt from non-market economies" like China, it said. 

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Ministers from the Association of Southeast Asian Nations (ASEAN) will join the G7 summit for the first time ever on Sunday, in a session earmarked for wide-ranging talks on issues including Covid-19 vaccines, finance and gender equality.

South Korea, Australia, South Africa and India will also participate as Britain's chosen G7 "guests", with many attendees taking part virtually due to the pandemic and emergence of the Omicron variant.

Truss said she wants deeper ties between G7 nations in trade, investment, technology and security to "defend and advance freedom and democracy across the world". 

She will also unveil a UK-led initiative to boost collaboration investing in Africa's "most fragile markets" and help develop "a pipeline of investable opportunities".

(FRANCE 24 with AFP, REUTERS)

Quiet No More: China's Military Is Now a Force To Be Reckoned With

Quiet No More: China's Military Is Now a Force To Be Reckoned With

Quiet No More: China's Military Is Now a Force To Be Reckoned With

September 2, 2020  Topic: Security  Region: Asia  Blog Brand: The Reboot  Tags: China Military, Technology, World, A2/ad, PLA

Quiet No More: China's Military Is Now a Force To Be Reckoned With


 

First published in 1995, China’s biannual White Paper has long been regarded as one of the foremost sources of Chinese strategic messaging. What does its 2019 edition, “China’s National Defence in the New Era,” tell us about the PRC’s security orientation?

Popular news coverage has focused on the report’s repeated insistence that Chinese “national sovereignty” is irreconcilable with Taiwanese independence, and rightly so; the White Paper reaffirmed that China “makes no promise to renounce the use of force”, and reserves “the option of taking all necessary measures” to reunify with the wayward island off its east coast. So as to preempt any ambiguity, the report confirms that these “necessary measures” include a military solution: “the PLA (People’s Liberation Army) will resolutely defeat anyone attempting to separate Taiwan from China and safeguard national unity at all costs.

A great swathe of the report is devoted to similar kinds of political signalling vis-à-vis the US and China’s Asia-Pacific competitors, but interspersed throughout the White Paper is a trove of valuable information concerning China’s defense priorities.


 Despite colossal advancements in military hardware modernization over the past several decades, the report concludes that there is much more work to be done and more investments to be made if the PLA is to meet all of its ambitious modernization targets by 2035: “... the People’s Liberation Army (PLA) has yet to complete the task of mechanization, and is in urgent need of improving its informationization. China’s military security is confronted by risks from technology surprise and growing technological generation gap. Greater efforts have to be invested in military modernization to meet national security demands. The PLA still lags far behind the world’s leading militaries.” China’s upcoming type 15 tank, type 052D destroyer, J-20 fighter, and DF-26 ballistic missile were cited as some of the hardware pillars of the standardized, interoperable force that the PLA seeks to evolve towards.


 Briefings on the PLA’s hardware modernization progress have long been a mainstay of China’s White Papers; however, the PLA’s newfound emphasis on rethinking not just equipment, but “military policies and institutions,” marks a departure from recent iterations. Chapter four, “Reform in China’s National Defense and Armed Forces,” outlines a series of changes in military training regimen, the restructuring of the PLA’s army groups from 18 to 13, and consolidated military education program. In a clear confirmation of the PLA’s aggressive reorientation toward Air-Sea conflict preparedness, the PLA ground forces were hit by a personnel reduction of 300,000, accompanied by slight personnel increases for the PLA Navy and Rocket Force.  


 Other changes include an increasingly meritocratic officer promotion system, as well as new military policing and justice measures aimed at “uprooting peacetime ills” and weeding out corruption within the upper echelons of the PLA. The latter is being supplemented by what the White Paper advertises as a drastically reformed command structure, notably condensing the seven former military regions into five Theater Commands. 


 

Finally, the Chinese military has taken a major step in streamlining and consolidating its cyber, space, and electronic warfare operations with the establishment of a People's Liberation Army Strategic Support Force (PLASSF) that reports directly to the Central Military Commission (CMC).

As China continues to “narrow the gap between its military and the world’s leading militaries,” the 2019 White Paper is the clearest statement yet of Beijing’s struggle to establish sound military institutions to keep pace with the PLA’s rapid technical modernization.


 

Mark Episkopos is a frequent contributor to The National Interest and serves as research assistant at the Center for the National Interest. Mark is also a PhD student in History at American University. This first appeared in July 2019.

Image: Reuters


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Current World News And Events

What’s known and not about US drone-Russian jet encounter

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

What’s known and not about US drone-Russian jet encounter

 

JUAN A. LOZANO and PAUL J. WEBER

Wed, March 15, 2023 at 11:09 AM CDT

 

HOUSTON (AP) — Texas officials on Wednesday announced a state takeover of Houston's nearly 200,000-student public school district, the eighth-largest in the country, acting on years of threats and angering Democrats who assailed the move as political.

The announcement, made by Republican Gov. Greg Abbott's education commissioner, Mike Morath, amounts to one of the largest school takeovers ever in the U.S. It also deepens a high-stakes rift between Texas' largest city, where Democrats wield control locally and state Republican leaders have sought increasing authority following election fumbles and COVID-19 restrictions.

In a letter to the Houston Independent School District, Morath said the Texas Education Agency will replace Superintendent Millard House II and the district's elected board of trustees with an appointed board of managers made of residents from within the district's boundaries.

Morath said the board has failed to improve student outcomes while conducting “chaotic board meetings marred by infighting" and violating open meetings act and procurement laws. He accused the district of failing to provide proper special education services and of violating state and federal laws with its approach to supporting students with disabilities.


 

He cited the seven-year record of poor academic performance at one of the district's roughly 50 high schools, Wheatley High, as well as the poor performance of several other campuses.

"The governing body of a school system bears ultimate responsibility for the outcomes of all students. While the current Board of Trustees has made progress, systemic problems in Houston ISD continue to impact district students," Morath wrote in his six-page letter.

Most of Houston’s school board members have been replaced since the state began making moves toward a takeover in 2019, and House became superintendent in 2021. House and the current school board will remain until the new board of managers is chosen sometime after June 1.

House in a statement pointed to strides made across the district, saying the announcement “does not discount the gains we have made.”

He said his focus now will be on ensuring “a smooth transition without disruption to our core mission of providing an exceptional educational experience for all students.”

Other big cities including Philadelphia, New Orleans and Detroit in recent decades have gone through state takeovers, which are generally viewed as last resorts for underperforming schools and are often met with community backlash. Critics argue that state interventions generally have not led to big improvements.

Texas started moving to take over the district following allegations of misconduct by school trustees, including inappropriate influencing of vendor contracts, and chronically low academic scores at Wheatley High.

The district sued to block a takeover, but new education laws subsequently passed by the GOP-controlled state Legislature and a January ruling from the Texas Supreme Court cleared the way for the state to seize control.

Schools in Houston are not under mayoral control, unlike in cities such as New York or Chicago, but as expectations of a takeover mounted, the city's Democratic leaders unified in opposition.

Race is also an issue because the overwhelming majority of students in Houston schools are Hispanic or Black. Domingo Morel, a professor of political science and public services at New York University, has studied school takeovers nationwide and said the political dynamics in Texas are similar to where states have intervened elsewhere.

The demographics in Houston, Morel said, are also similar.

“If we just focus on taking over school districts because they underperform, we would have a lot more takeovers,” Morel said. “But that's not what happens."

____

Weber reported from Austin, Texas.

What’s known and not about US drone-Russian jet encounter

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

What’s known and not about US drone-Russian jet encounter

 By LOLITA C. BALDOR and TARA COPP
 

WASHINGTON (AP) — When a Russian fighter jet collided with a large U.S. surveillance drone over the Black Sea, it was a rare but serious incident that triggered a U.S. diplomatic protest and raised concerns about the possibility Russia could recover sensitive technology.

U.S. and Russian officials had conflicting accounts of the collision Tuesday between the MQ-9 Reaper drone and the Russian Su-27 fighter jet; each side blamed the other. A Pentagon spokesman raised the possibility that the Defense Department could eventually declassify and release video it has of the collision.

Russian authorities said Wednesday that they will try to recover the fragments of the drone. But National Security Council spokesman John Kirby told CNN that the Reaper crashed into very deep water and he was not sure whether a recovery was possible.

A look at what’s known and what’s uncertain about the incident.


 

WHAT THE US SAYS HAPPENED

The Pentagon and U.S. European Command said that two Russian Su-27 aircraft dumped fuel on the MQ-9, which was conducting a routine surveillance mission over the Black Sea in international airspace. They said the Russian jets flew around and in front of the drone several times for 30 to 40 minutes, and then one of the Russian aircraft “struck the propeller of the MQ-9, causing U.S. forces to have to bring the MQ-9 down in international waters.”

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

 Genaro Garcia Luna, Mexico’s former top drugs official, has been convicted in the US on corruption charges. Photograph: Tomas Bravo/Reuters 


 According to the Guardian story, it is alleged that Garcia Luna took millions in bribes from Sinaloa gang, Brooklyn corruption trial told 

 

A former Mexican law enforcement official once in charge of the fight against drug traffickers has been convicted at a US corruption trial over his ties to the Sinaloa cartel.

Federal prosecutors in Brooklyn said Genaro Garcia Luna accepted millions of dollars in bribes from the cartel once run by Joaquin “El Chapo” Guzman in exchange for protection from arrest, safe passage for cocaine shipments and tipoffs about forthcoming law enforcement operations.

Garcia Luna is one of the highest-ranking Mexican officials ever accused of ties to drug trafficking. He led Mexico’s Federal Investigation Agency from 2001 to 2005 and was public security minister from 2006. He worked closely with US counter-narcotics and intelligence agencies as part of former President Felipe Calderon’s crackdown on cartels.

Two U.S. Banks Collapse in 48 Hours. Which One's Next?

Two U.S. Banks Collapse in 48 Hours", article continues...

Mexico’s former drugs tsar Genaro Garcia Luna convicted for aiding El Chapo cartel

  Silvergate served the cryptocurrency industry, while SVB was the bank for Silicon Valley tech startups.  

  • LUC OLINGA
  • MAR 10, 2023 1:34 PM EST


 

It's a black week for the American financial system: In just 48 hours, the banking sector has been shaken by the collapse of two major banks.


Most worrying is that these banks served two so-called growth economic sectors: the tech sector and the cryptocurrency industry.

SVB Financial Group,  (SIVB) - Get Free Report the lender to Silicon Valley startups, failed on March 10, falling into the hands of the FDIC. The federal agency has taken control of the banking company, reviving the ghosts of the 2008 financial crisis.

  

"Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver," the federal agency said in a news release.

"All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds."

Two U.S. Banks Collapse in 48 Hours", article continues...

Two U.S. Banks Collapse in 48 Hours", article continues...

Two U.S. Banks Collapse in 48 Hours", article continues...


It added that it may pay a dividend to uninsured depositors as it sells the assets of SVB   (SIVB) - Get Free Report.

The FDIC is a guarantor for bank depositors.

SVB: The To-Go Bank for Tech Startups

At the end of last year SVB had $209 billion in total assets and $175 billion in total deposits. SVB becomes the second biggest failure of a U.S. bank after Washington Mutual in 2008.

SVB was a central player in the innovation economy. It was the backbone of the tech industry in Silicon Valley. It played an important role in the startup ecosystem by providing specialized financial services, industry expertise, a valuable network, and a strong reputation.

It also offered a range of financial services tailored specifically to the needs of startups, such as venture debt, corporate banking, and asset management. These services are designed to help startups manage their finances, optimize their cash flow, and scale their businesses.

SVB suffered from the rise in interest rates from the Federal Reserve because it hurt the value of its investment assets, especially bonds. As a result, the bank had to resort to a capital raise as many startups withdrew their deposits from the bank since they were burning a lot of cash. 

SVB had to sell bonds, primarily U.S. Treasury securities, at a discount to cover these withdrawals. The rise in interest rates has made existing bonds less valuable. In selling these bond positions, SVB had to take a significant loss.

But its attempt to raise $2.25 billion failed.

Crypto Bank Silvergate Collapsed

Two U.S. Banks Collapse in 48 Hours", article continues...

Two U.S. Banks Collapse in 48 Hours", article continues...

  • LUC OLINGA
  • MAR 10, 2023 1:34 PM EST

Two days earlier, Silvergate, the crypto bank, collapsed. The bank was where most of the big crypto firms went, because traditional banks did not want to do business with them. And that reluctance stemmed from warnings from regulators who consider the crypto industry a risky sector.

 

Verging on Bigger Fall Than 2008: Economist Schiff

The rout of the La Jolla, Calif., bank was due to pressure from regulators, in particular the Department of Justice, which has opened an investigation into its business relations with the empire of the former crypto king Sam Bankman-Fried.

Bankman-Fried has been charged with 12 counts of fraud, stemming from the collapse of his crypto empire, the cryptocurrency exchange FTX and its sister company, Alameda Research.

 

Silvergate was established in 1988. The bank initially specialized in lending to industrial customers and at the time also offered loans for both residential and commercial real estate.  

But in 2013, the bank began to court crypto firms, when traditional banks were reluctant to do so due to the opacity prevailing in the sector. Silvergate thus became the crypto bank. 

In 2019, the firm made its initial public offering, promising a complete refocus on the industry, which was then experiencing a renaissance. As of Sept. 30, Silvergate had $11.9 billion in digital assets held as deposits. 

But the bankruptcy of FTX and Alameda on Nov. 11 scared away customers. The bank thus reported only $3.8 billion in digital assets held as deposits as of Dec. 31. FTX was one of Silvergate's big customers. 

The question now is whether other U.S. banks will fall? Could SVB and Silvergate's issues spread to other regional banks especially since suspicion can lead customers to rush to these banks to withdraw their money?

"The U.S. banking system is on the verge of a much bigger collapse than 2008," said economist Peter Schiff, known for his dire predictions. 


 "Banks own long-term paper at extremely low interest rates. They can't compete with short-term Treasuries. Mass withdrawals from depositors seeking higher yields will result in a wave of bank failures." 

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

 

Getty Images, According to Insider, Officials in Michigan and Texas said they were only informed about the plan to send contaminated soil and water from the Ohio train derailment would be sent to them after the plan was already set.

"We were not given a heads up on this reported action. Our priority is to always keep the people we represent safe," Michigan Rep. Debbie Dingell said in a statement on Friday.

Dingell was responding to an announcement from Ohio Gov. Mike DeWine that said waste from the February 3 Norfolk Southern derailment in East Palestine, Ohio, would be sent to the US Ecology Wayne Disposal, a hazardous waste disposal facility in Michigan.

The congresswoman said her office would be making inquiries to the waste company, Environmental Protection Agency, Department of Transportation, Norfolk Southern, and the state of Ohio to "understand what is being shipped, whether these are approved storage facilities, the implications of this decision, and how we ensure the safety of all Michigan residents."

Statement by President Biden on Russia’s Unprovoked and Unjustified Attack on Ukraine

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

 

Pic by Cnn and according to the White house- Briefing Room, February 23, 2023


The prayers of the entire world are with the people of Ukraine tonight as they suffer an unprovoked and unjustified attack by Russian military forces. President Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering. Russia alone is responsible for the death and destruction this attack will bring, and the United States and its Allies and partners will respond in a united and decisive way. The world will hold Russia accountable.

I will be monitoring the situation from the White House this evening and will continue to get regular updates from my national security team. Tomorrow, I will meet with my G7 counterparts in the morning and then speak to the American people to announce the further consequences the United States and our Allies and partners will impose on Russia for this needless act of aggression against Ukraine and global peace and security. We will also coordinate with our NATO Allies to ensure a strong, united response that deters any aggression against the Alliance. Tonight, Jill and I are praying for the brave and proud people of Ukraine.

Brazil floods: death toll rises to 48 as landslides and looters prevent aid reaching survivors

Officials in Texas & Michigan say they were unaware the toxic waste cleanup from the Ohio derailment

Brazil floods: death toll rises to 48 as landslides and looters prevent aid reaching survivors

 

 Getty Images-Dozens missing in south-eastern São Paulo state as rescue crews search for bodies in the rubble of homes 


 

According to the Guardian: Search and rescue teams raced to find dozens of people that remained missing after heavy rains devastated coastal areas of Brazil’s south-eastern São Paulo state, as the official death toll rose to 48.

“We are currently working with a tally of at least 38 missing people,” the São Paulo governor, Tarcísio de Freitas, told reporters on Wednesday, as weather forecasters cautioned more rain was on its way.

Massive downpours have caused landslides and flooding in coastal towns of Brazil’s richest state, which has so far been hit by more than 600mm (23.6 inches) of rain, the highest cumulative figure ever in the country.

‘A Time Bomb’: India’s Sinking Holy Town Faces Grim Future

Russian Military Aircraft Blown up Near Minsk: Belarusian Partisans

Brazil floods: death toll rises to 48 as landslides and looters prevent aid reaching survivors

 For months, residents in Joshimath, a holy town burrowed high up in India’s Himalayan mountains, have seen their homes slowly sink 

By Associated Pres

Feb. 27, 2023, at 12:28 a.m.


 Joshimath town is seen along side snow capped mountains, in India's Himalayan mountain state of Uttarakhand, Jan. 21, 2023. For months, residents in Joshimath, a holy town burrowed high up in India's Himalayan mountains, have seen their homes slowly sink. They pleaded for help, but it never arrived. In January however, their town made national headlines. Big, deep cracks had emerged in over 860 homes, making them unlivable. (AP Photo/Rajesh Kumar Singh) 

 

JOSHIMATH, India (AP) — Inside a shrine overlooking snow-capped mountains, Hindu priests heaped spoonfuls of puffed rice and ghee into a crackling fire. They closed their eyes and chanted in Sanskrit, hoping their prayers would somehow turn back time and save their holy — and sinking — town.

For months, the roughly 20,000 residents in Joshimath, burrowed in the Himalayas and revered by Hindu and Sikh pilgrims, have watched the earth slowly swallow their community. They pleaded for help that never arrived, and in January their desperate plight made it into the international spotlight.

Russian Military Aircraft Blown up Near Minsk: Belarusian Partisans

Russian Military Aircraft Blown up Near Minsk: Belarusian Partisans

Russian Military Aircraft Blown up Near Minsk: Belarusian Partisans


By Reuters

Feb. 26, 2023, at 10:25 p.m.


(Reuters) -Belarusian anti-government activists have claimed responsibility for what they said was a drone attack on a Russian A-50 surveillance aircraft at an airfield near the Belarus capital of Minsk on Sunday.

"Those were drones. The participants of the operation are Belarusian," Aliaksandr Azarov, leader of Belarusian anti-government organization BYPOL, was quoted as saying on the organisation's Telegram messaging app and on the Poland-based Belsat news channel.


"They are now safe, outside the country."

Reuters was not able to independently verify the report of the attack. There was no official confirmation from Russia or Belarus and there was no immediate response from their defence ministries to requests for comment.

Belsat is a Polish broadcaster focused on Belarusian news that Minsk has branded extremist. BYPOL, which includes former law enforcement officers who support opposition politicians, has been branded a terrorist organization.

Current World News And Events

Türkiye puts NATO expansion on hold – media

Why US-China trade is on track to break records despite all the politics

Why US-China trade is on track to break records despite all the politics

  The national flags of North Atlantic Treaty Organization member states are seen at NATO headquarters on October 12, 2022 in Brussels, Belgium © AFP / Kenzo TRIBOUILLARD/AFP 


Türkiye has called off a three-way meeting with Sweden and Finland, leaving the two Nordic nations’ plans to join NATO in limbo, Turkish state broadcaster TRT reported on Tuesday. Relations between Ankara and Stockholm took a nosedive over the weekend, following a sanctioned Koran-burning protest outside the Turkish embassy in the Swedish capital.

TRT’s report, citing anonymous Turkish diplomatic sources, claimed that the meeting, scheduled for next month in Brussels, has been postponed at Ankara’s request.

A source in the Turkish presidency stressed that the decision was not a cancellation, but rather a deferment, with no specified time frame. President Recep Tayyip Erdogan’s office declined to comment offically, when approached by the media. 

 On Monday, the Turkish head of state made it clear that Sweden “will not receive any support from us with regard to NATO” due to Stockholm’s failure to show respect to the “faith of the Republic of Türkiye or the Muslims.” 

Why US-China trade is on track to break records despite all the politics

Why US-China trade is on track to break records despite all the politics

Why US-China trade is on track to break records despite all the politics

 US Treasury Secretary Janet Yellen and Chinese vice-premier Liu He and their respective delegations wait ahead of their meeting in Zurich, on January 18, 2023. ©  SEBASTIEN BOZON / AFP  


Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen met in Switzerland last week to manage differences and “prevent competition from becoming anything ever near conflict.”

It was the highest-ranking contact between the two sides since their respective presidents met last November – and it couldn’t be at a better time. Amid all the talk of decoupling, the importance of the US-China relationship looms large.

According to a recent Bloomberg report, trade between the US and China is on track to break records despite heavy talk from Washington politicians of decoupling from the Asian powerhouse. The report says this is “a signal of resilient links between the world’s top economies amid the heated national security rhetoric in Washington.”

US tanks will be ‘destroyed’ in Ukraine – Moscow

Why US-China trade is on track to break records despite all the politics

China Covid: Coffins sell out as rural losses mount

 FILE PHOTO: A US Army M1 Abrams tank is seen during the Getica Saber 17 exercise in Cincu, Romania, July 10, 2017. ©  US Army / Spc. Kelsey M. VanFleet 


 Russia’s envoy to the US said Washington seeks to inflict a “strategic defeat” using Ukraine as a “proxy” 


Any American battle tanks sent to Ukraine will be destroyed by Russian forces, Moscow’s ambassador to the United States has warned, after media reports said the White House now plans to supply Kiev with heavy armor despite its previous refusals.

Asked about the potential shipment of the M1 Abrams main battle tank to Ukraine, Russia’s ambassador to the US, Anatoly Antonov, said the move would only escalate American involvement in the conflict and goes far beyond offering “defensive weapons.”

“If a decision to transfer to Kiev M1 Abrams is made, American tanks without any doubt will be destroyed, as all other samples of NATO military equipment,” the envoy said, adding that “The Americans are constantly raising the ‘bar’ of military assistance to their puppet government.”


 Though the White House previously rejected Kiev’s demands for the M1 Abrams – which was featured on a Christmas 'wish list’ circulated by Ukrainian officials around the holiday – on Tuesday multiple news outlets reported that Washington had reversed course and now intends to send the hardware after all. An announcement could come as early as this week, the reports said. 

China Covid: Coffins sell out as rural losses mount

Germany confirms it will provide Ukraine with Leopard 2 tanks

China Covid: Coffins sell out as rural losses mount

 Demand for coffins in some rural areas has spiked

By Stephen McDonell in Shanxi BBC News 


The BBC has found evidence of a considerable number of Covid-related deaths in China's rural regions, as the virus spread from big cities to more remote areas with older populations.

In Xinzhou region of northern Shanxi province the coffin makers have been busy. We watched the skilled craftsmen as they carved elaborate decorations into the freshly-cut wood. Over recent months, they say, they haven't had time to stop.

One villager, a customer, told us that at times the coffins have sold out. Laughing with a dose of the black humour you find in the area, he added that those in the funeral industry had been "earning a small fortune".

There has been much debate about the real number of Covid deaths in China, after the virus ripped through its megacities.

Some 80% of the population - more than a billion people - have been infected since China scrapped restrictions in December, according to leading epidemiologist Wu Zunyou. Last weekend China reported 13,000 Covid-related deaths in less than a week, adding to the 60,000 deaths it has counted since December.

But these deaths have been in hospitals. In rural areas there are only sparse medical facilities and those who die at home are mostly not being counted.

There is not even an official estimate for the number of village deaths. But the BBC found evidence the death toll is mounting.

We visited a crematorium and they too have been busy, mourners dressed in white walking forward carrying the ceremonial box which would eventually contain the remains of a loved one.

In another village, we saw one man and woman loading huge tissue paper birds onto the back of a flatbed truck. "They're cranes. You ride the crane into the afterlife," the woman said.

As they packed up other elaborate, Buddhist images newly made from tissue paper they said they'd had an explosion in demand for their funeral decorations, two or three times what's normal.

Everyone we met in this part of Shanxi who is connected to the funeral industry told us a similar story about an increase in deaths and they all attributed it to the coronavirus.

Doomsday Clock signals highest ever peril level

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

 The clock moved 10 seconds closer to human destruction

By Chloe Kim BBC News, Washington 

 

The symbolic Doomsday Clock has moved closer than ever to midnight, declaring humanity perilously close to catastrophe.

The clock, set to 90 seconds to midnight, marks how close our planet is to complete annihilation because of man made actions.

The Bulletin of the Atomic Scientists (BAS) said the clock moved, in large part, because of the war in Ukraine.

The idea began in 1947 to warn humanity of the dangers of nuclear war.

The hands of the clock are moved closer to or further away from midnight based on the scientists' reading of existential threats at a particular time. Midnight marks the theoretical point of annihilation.

The decision is made by the BAS science and security board, which includes 13 Nobel Laureates. This year the announcement was made available in Ukrainian and Russian as well as English, due to the war in Ukraine.

The board stated that the war has raised profound questions on how nations interact, as well as an apparent downfall in international conduct.

"Russia's thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict - by accident, intention, or miscalculation - is a terrible risk," it said.

The other threats mentioned this year include climate change, biological threats and disruptive technologies.

"The war's effects are not limited to an increase in nuclear danger; they also undermine global efforts to combat climate change," said the statement.

Countries dependent on Russian oil and gas have now sought out other natural gas suppliers.

HOW TO READ THE DOOMSDAY CLOCK: 

And as the world continues to experience fallout from Covid-19, the board said world leaders will need to continue to identify and address biological risks - whether the origin is natural, accidental or intentional.

A pandemic, the board said, is no longer a once in a lifetime risk.

In 2020, the clock hands were moved 100 seconds closer to midnight. The following years, in 2021 and 2022, the clock hands stayed at the same place.

The farthest away the clock hands have ever been was right after the end of the Cold War - at 17 minutes from midnight.

Rachel Bronson, CEO of the Bulletin of the Atomic Scientists, said though humans created these problems, the board also believes humans can reduce the risks with global engagement.

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

Germany confirms it will provide Ukraine with Leopard 2 tanks

German Chancellor Olaf Scholz announced the decision after weeks of reluctance and international pressure

By Bernd Debusmann Jr, George Wright & Antoinette Radford BBC News, Washington and London 

 

After weeks of reluctance, Germany has agreed to send Leopard 2 tanks to Ukraine, in what Kyiv hopes will be a game-changer on the battlefield.

Chancellor Olaf Scholz announced the decision to send 14 tanks - and allow other countries to send theirs too - at a cabinet meeting on Wednesday.

US President Joe Biden's administration is also expected to announce plans to send at least 30 M1 Abrams tanks.

A Kremlin spokesman earlier said the tanks would "burn like all the rest".

 

Dmitry Peskov said there was an overestimation of the potential the tanks would bring to the Ukrainian army, and called the move a "failed plan".

But Ukrainian officials insist they are urgently in need of heavier weapons, and say sufficient battle tanks could help Kyiv's forces seize back territory from the Russians.

A German government spokesperson said the decision to supply the tanks "follows our well-known line of supporting Ukraine to the best of our ability".

Germany also permitted other countries to send their Leopard 2 tanks to Ukraine - which was restricted until now under export regulations.

  • What weapons are being supplied to Ukraine?
  • 'We need Western tanks - my tank's as old as me'

The US and Germany had resisted internal and external pressure to send their tanks to Ukraine for some time.

Washington cited the extensive training and maintenance required for the high-tech Abrams.

Germans endured months of political debate about concerns that sending tanks would escalate the conflict and make Nato a direct party to the war with Russia.

US media is reporting that an announcement regarding Abrams shipments to Ukraine could come as soon as Wednesday, with unnamed officials cited as saying at least 30 could be sent.

However the timing remains unclear, and it could take many months for the US combat vehicles to reach the battlefront.

German officials had reportedly been insisting they would only agree to the transfer of Leopard 2s to Ukraine if the US also sent M1 Abrams.

"If the Germans continue to say we will only send or release Leopards on the conditions that Americans send Abrams, we should send Abrams," Democratic Senator Chris Coons, a Biden ally, told Politico on Tuesday.

Britain has already said it will send Challenger Two tanks to Ukraine.



Current World News And Events

Mike Pence: Classified documents found at former vice-president's home

Picture by People

 Mike Pence previously said no classified documents left the White House

By Mattea BubaloBBC News 

 

Classified files have been found at ex-US Vice-President Mike Pence's home in the latest discovery of secret papers at the homes of officials who have served in the top ranks of government.

The documents, discovered by a lawyer last week for Mr Pence at his Indiana home, have been handed over to the FBI.

Investigators are already looking into President Joe Biden and ex-President Donald Trump's possession of files.

Mr Trump faces a criminal investigation for allegedly mishandling papers.

 

Representatives for Mr Pence sent a letter to the National Archives alerting them to the documents.

The FBI came to the former vice-president's home to collect the documents, bypassing "standard procedures" and requesting "direct possession" of them, lawyers added in a separate letter.

Under the Presidential Records Act, White House records are supposed to go to the National Archives once an administration ends. Regulations require such files to be stored securely.

A "small number of documents bearing classified markings" were "inadvertently boxed and transported" to Mr Pence's home at the end of Mr Trump's presidency, his lawyer wrote in a letter shared with US media.

The latest development emerged after Mr Pence sought legal help from specialists in handling classified documents "out of an abundance of caution".

He asked for help "after it became public that documents with classified markings were found in President Joe Biden's Wilmington residence", the letter read.

Lawyers found "a small number of documents that could potentially contain sensitive or classified information", which were locked by the former vice-president in a safe.

An aide to Mr Pence told CBS News, the BBC's US partner, the documents were stored in boxes in an insecure area of Mr Pence's home. The aide said they were taped shut. 

According to US media, the documents are believed to have first been taken to Mr Pence's home in Virginia before later being sent to Indiana.

After the letter became public, Mr Trump came to Mr Pence's defence, taking to his Truth Social social media platform to say that he is "an innocent man".

"He never did anything knowingly dishonest in his life," Mr Trump wrote. "Leave him alone!!!"

Mr Pence had repeatedly said over the last months that he did not believe he was in possession of classified documents.

Earlier this month, he told CBS that he was confident reviews of documents in his home were done "in a thorough and careful way".

India and Pakistan came close to nuclear war: Pompeo

By Soutik Biswas

India correspondent

 

India and Pakistan came "close" to a "nuclear conflagration" in February 2019, former US Secretary of State Mike Pompeo has said in his new memoir.

This happened after Delhi launched strikes against militants in Pakistani territory following an attack on Indian troops in Kashmir.

Pakistan had then said it had shot down two Indian military jets and captured a fighter pilot.

India and Pakistan claim all of Kashmir, but control only parts of it.

India has long accused Pakistan of backing separatist militants in the Kashmir valley - a charge Islamabad denies. The nuclear-armed neighbours have fought three wars since independence from Britain and partition in 1947. All but one were over Kashmir.

In Never Give An Inch: Fighting for the America I Love, Mr Pompeo says he does "not think the world properly knows just how close the India-Pakistan rivalry came to spilling over into a nuclear conflagration in February 2019".

"The truth is, I don't know precisely the answer either; I just know it was too close," he writes.

Mr Pompeo says he will "never forget the night" he was in Hanoi at a summit "negotiating with the North Koreans on nuclear weapons" when "India and Pakistan started threatening each other in connection with the decades-long dispute over the northern border region of Kashmir".

After the attack on Indian troops that killed more than 40 soldiers - "an Islamist terrorist attack... probably enabled in part by Pakistan's lax counter-terror policies", according to Mr Pompeo - India had responded with air strikes inside Pakistan. "The Pakistanis shot down a plane in a subsequent dogfight and kept the Indian pilot prisoner."

North Korea issues 'extreme cold' weather alert

North Korea issues 'extreme cold' weather alert

  Cold air spreads across East Asia

By Kelly NgBBC News 

 

North Korean authorities have warned of extreme weather conditions in the country as a cold wave sweeps the Korean peninsula.

Temperatures are likely to dip below -30C in the northern regions, which are also the poorest part of the country, the state radio broadcaster said.

Coastal areas are also expected to see high winds, according to state media.

South Korea too has issued a cold wave warning and northern China has been experiencing record low temperatures.

Temperatures are also expected to drop to their lowest in a decade in Japan this week.

While North Korea has been affected by extreme or adverse weather much like other places, little is known about the impact of this on its people.

Ryanggang, North Hamgyong and South Hamgyong, the country's poorest provinces and those expected to be most vulnerable to climate shocks, are all located in the north.

Electricity is uncommon outside the capital Pyongyang, and households in these places burn wood, and dried plants for warmth during the winter, NK News has reported.

It also says many merely use plastic wrap around their doors and windows for insulation.

Radio Free Asia reported in December that "large numbers" of people in the country had gone missing late last year during another extremely cold spell.

Many are thought to have starved or frozen to death, as the mercury dipped below freezing and food became scarce.

  • China’s ‘North Pole’ sees record cold temperatures
  • Europe and polar regions hit hardest by warming

Food insecurity in North Korea is said to be at its worst since a widespread famine in the 1990s, according to Lucas Rengifo-Keller, a research analyst at Peterson Institute for International Economics in the US.

Scientists say extreme weather, including cold waves, is becoming more common because of climate change.

Tuesday's cold wave alerts come as Pyongyang prepares to celebrate the 75th anniversary of the Korean People's Army next week.

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RUSSIAN NAVEL EXERCISES BRING ANZIETY TO BLACK SEA REGION

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

Yahoo News: Melissa Rossi-Contributor

Sun, February 13, 2022, 11:52 AM


“We haven’t seen a movement like this in recent history,” retired U.S. Adm. James Foggo, who commanded European NATO naval forces until last year, similarly told Politico.  According to Black Sea News, “On Saturday, Black Sea exercises started with more than 30 Russian military ships,” including submarines and cruisers. The drills are also using aviation and land troops in maneuvers, according to the website. The maneuvers, which officially began Feb. 13 and are scheduled to continue through Feb. 22, “will launch missile and bomb strikes” against sea, air and coastal targets, according to the TVzvezda.ru site.  In its notification last week of the upcoming exercises in the Black Sea, a body of water that is about the size of the Northeastern U.S., the Russian government sent out a map showing “no-go zones,” shocking Mykhailo Samus, director of New Geopolitics Research Network, a think tank based in Kyiv.  “On the map, they’re closing down nearly half of the Black Sea,” he told Yahoo News. “It's crazy.” While countries normally close off certain zones during military exercises, he said, “normally it’s not half the sea.”


“We haven’t seen a movement like this in recent history,” retired U.S. Adm. James Foggo, who commanded European NATO naval forces until last year, similarly told Politico.  According to Black Sea News, “On Saturday, Black Sea exercises started with more than 30 Russian military ships,” including submarines and cruisers. The drills are also using aviation and land troops in maneuvers, according to the website. The maneuvers, which officially began Feb. 13 and are scheduled to continue through Feb. 22, “will launch missile and bomb strikes” against sea, air and coastal targets, according to the TVzvezda.ru site.  In its notification last week of the upcoming exercises in the Black Sea, a body of water that is about the size of the Northeastern U.S., the Russian government sent out a map showing “no-go zones,” shocking Mykhailo Samus, director of New Geopolitics Research Network, a think tank based in Kyiv.  “On the map, they’re closing down nearly half of the Black Sea,” he told Yahoo News. “It's crazy.” While countries normally close off certain zones during military exercises, he said, “normally it’s not half the sea.”

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

The GUARDIAN  Julian Borger

February 15th, 2022



Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy ‘not exhausted’ – 


Vladimir Putin says western assurances Ukraine will not join Nato soon are not good enough as German Chancellor welcomes pull back of some troops  Russia sending thousands more troops to Ukraine border Biden and Johnson agree ‘crucial window for diplomacy’ remains Putin continues to rattle sabre but with rare nod towards de-escalation Vladimir Putin suggests dialogue is still possible on Ukraine crisis Russian envoy warns of right to counterattack in eastern Ukraine Ukraine quashes suggestion it could drop Nato plans to avoid war.


In Washington, the secretary of state, Antony Blinken is on the phone to his Russian counterpart Sergei Lavrov, in the wake of positive noises from Lavrov about possible talks on intermediate-range missiles and other measures to reduce military risks.  These are the sort of discussions the US and Nato allies have offered to hold in the written proposals they sent to Moscow.  Joe Biden is due to speak to Emmanuel Macron later today, the White House says.  Meanwhile, the Estonian prime minister, Kaja Kallas, has been telling CNN, that her government so far see no signs of Russian withdrawal. She said:  We haven’t seen any de-escalation yet. We believe it when we see it but we don’t see it right now.  She warned that even if the Russians pull back, it will by no means be the end of the threat to Ukraine.  Putting the military around Ukraine and pulling them off is a tactic to confuse and tire the West. You know the fairy tale of a boy who cried wolf.

Chinese military now set for invasion of Taiwan, says Hill commission

Ukraine crisis: Putin says he wants Nato question resolved now as Scholz says diplomacy not exhaust

Chinese military now set for invasion of Taiwan, says Hill commission

By Bill Gertz - The Washington Times - Wednesday, November 17, 2021


Buildup of China's nuclear forces 'unprecedented,' could assist coercion


China‘s military now is capable of a full-scale invasion of Taiwan and has added new missiles and amphibious ships to the People’s Liberation Army for an attack on the island democracy, according to the latest annual report of a congressional China commission.  Additionally, the standoff between China and Taiwan has become unstable because the ability of the U.S. military to deter a Chinese attack is now in a period of “dangerous uncertainty,” the report by the U.S.-China Economic and Security Review Commission concluded.  China, which insists Taiwan is part of its sovereign territory, also has rapidly increased the number of intermediate-range missiles targeting the self-governing island state from 30 to 200 over the past several years. New amphibious ships have been added to the Chinese navy and civilian vessels are being prepared to move troops across the 100-mile-waterway in a potential future invasion.


The panel noted that a People’s Liberation Army invasion would be a high-risk operation for Beijing, but it would include cyberattacks, missile strikes and a blockade, with an initial invasion force of some 25,000 troops.  “Given these developments, it has become less certain that U.S. conventional military forces alone will continue to deter China‘s leaders from initiating an attack on Taiwan,” the report said.

Actor who bilked film investors out of $650 million gets 20 years

Russia says it will withdraw some of its troops from Ukraine border

Chinese military now set for invasion of Taiwan, says Hill commission

Photo: Lionsgate/Shutterstock

By Dennis Romero (NBCNEWS)

 February 14th, 2022


Zachary Joseph Horwitz was sentenced in federal court in Los Angeles after he pleaded guilty to committing securities fraud.


Low-budget film actor Zachary Joseph Horwitz was sentenced Monday to 20 years in federal prison after he pleaded guilty to scamming investors out of an estimated $650 million.  U.S. District Judge Mark C. Scarsi meted out the sentence in Los Angeles and added that Horwitz is obligated to pay $230,361,884 he kept from the scheme, the U.S. attorney's office in Los Angeles said.  Horwitz persuaded five investor groups and more than 250 people to lend him cash by claiming he could buy movie rights from producers and sell them to HBO, Netflix and Sony Pictures Entertainment at a large profit as the platforms seized on global consumers' shift to streaming, prosecutors said.  Horwitz promised returns of as much as 45 percent and displayed fraudulent documents, including agreements giving his firm those rights, they said.  As his scam was underway in the latter half of the 2010s, media giants were racing to stock up on web-based content, gobbling up the rights to titles, many for the emerging foreign market online, in what has been described as the "streaming wars."  Federal prosecutors, who narrowed the case to one count of securities fraud after Horwitz agreed to plead guilty last year, described it as a Ponzi scheme: He used his newest investment cash to make promised payments, with interest, to earlier investors.  In 2013 he set up a firm called 1inMM Capital LLC, ostensibly to buy the rights to English-language movies and sell them to major media companies for streaming in Latin America, FBI Special Agent John Verrastro said in an affidavit last year.  The scam started the next year, prosecutors said.  Horwitz pitched his targets on a single title, sometimes getting $1 million or more from each victim and then later updating victims on its progress, Verrastro said.


Horwitz later claimed to have expanded his rights-flipping strategy to other foreign markets, including Australia and New Zealand, Verrastro said.  Horwitz, who had referred to himself as an entrepreneur, sent a pricey bottle of Johnnie Walker Blue Label blended Scotch whisky alongside copies of his 2015 annual report to some investors, according to the affidavit.  Horwitz claimed that not a single licensing deal lost money and that "strategic partnerships" with the streaming giants were in place, the document said.  It came to a pressure point in 2019 when some investors claimed that Horwitz was defaulting on payments that were due after six- or 12-month terms, prosecutors said. Horwitz responded by sending fake emails from the likes of HBO with reasons for cash flow issues, including updated “payment cycles,” the affidavit said.  The scheme was shut down in April when Horwitz was arrested. His attorneys did not immediately respond to a request for his response to the sentence.


Russia says it will withdraw some of its troops from Ukraine border

Russia says it will withdraw some of its troops from Ukraine border

Russia says it will withdraw some of its troops from Ukraine border

Guardian: Additional reporting by Daniel Boffey in Brussels


Move could be sign of de-escalation amid fears of invasion but size of planned withdrawal is unclear.


Russia’s defence ministry has announced it will withdraw some of its troops from the border with Ukraine, as the Kremlin laughed off US accusations that Vladimir Putin was poised to invade this week.  The size of the withdrawal remains unclear and may involve only a fraction of Russia’s forces at the border, which western officials estimate at more than 60% of the country’s ground forces.


The announcement of the withdrawal came in a statement from the defence ministry spokesperson Igor Konashenkov, who described ongoing exercises that involved forces from “practically all military districts, fleets, and the airborne forces”.  “Units of the southern and western military districts, which have accomplished their missions, are boarding trains and trucks and will head for their garrisons later today,” Konashenkov said.


The defence ministry released video apparently shot in Crimea of Russian tanks and other heavy weaponry being loaded on to railway cars.  Ukrainian officials said they would not take Moscow at its word about a drawdown. “Many statements are constantly being made from [Russia], so we have a rule: we’ll believe it when we see it,” said Dmytro Kuleba, Ukraine’s foreign minister. “If we see the withdrawal then we will believe in de-escalation.”  Nato’s secretary general, Jens Stoltenberg, said recent comments from Putin on continuing talks offered grounds for “cautious optimism” but there was no sign yet of a withdrawal of troops and equipment from Ukraine’s border.  He said: “So far we have not seen any de-escalation on the ground from the Russian side. Over the last weeks and days, we have seen the opposite.”  He added: “We believe there is some ground for cautious optimism based on the signals and signs coming from Moscow, that they are ready to engage in a diplomatic effort and we are ready to continue to engage in a diplomatic effort.”  A Kremlin spokesperson accused the west of manufacturing “manic information madness”. “We’ve always said the troops will return to their bases after the exercises are over. This is the case this time as well,” Dmitry Peskov said on Monday.


He said Putin had joked about US intelligence reports that he could give an order to launch an invasion as early as this week. “He asks [us] to find out if the exact time, to the hour, of the start of the war has been published. It’s impossible to be understanding of this manic information madness,” Peskov said.  Russian state media pundits rushed to praise Putin’s use of military pressure on the west. “Before, no one wanted to talk to us about security; now look at the line of those wanting to visit Moscow in February,” the RT head Margarita Simonyan wrote, in an apparent reference to visits by leaders such as Emmanuel Macron. “At the same time, Kyiv’s economy has been torn to shreds … it’s a small thing but nice to see.”  Russia’s rouble currency posted gains after the announcement, indicating that investors hoped this would mark the beginning of a de-escalation of tensions between Russia and the west.  

CRYPTOVERSE-Bitcoin runs into Russian rules and regiments

Russia says it will withdraw some of its troops from Ukraine border

Russia says it will withdraw some of its troops from Ukraine border

Feb 15 (Reuters) - Bristling tensions and looming laws in Europe could offer clues to two questions: Can bitcoin be a safe-haven asset? And can Russia emerge as a crypto superpower?  The answer to the first, for now at least, is no; while fortress gold has risen 2.3% over the past week, as Western warnings about Russian aggression have intensified, bitcoin has lost 3%. That was worse than the 0.9% decline of the Nasdaq Composite (.IXIC) index.


"I don't see any evidence of bitcoin being a safe haven," said Chris Weston, head of research at Melbourne-based brokerage Pepperstone. "The Ukraine situation with Russia is a really hard one to price, so in that situation, you just buy crude futures."  Yet it's too early to dismiss the argument made by many bitcoin advocates who say the cryptocurrency, just into its teens, is destined to be a form of digital gold that should retain its value when riskier assets such as stocks tumble.


While bitcoin has slipped towards levels of around $42,000 in recent days, it hasn't surrendered all the gains made from lows of $32,950 hit on Jan. 24.  Some investors also point to how relatively calm trading has been, at a time of high geopolitical tension, with Russia having massed more than 100,000 troops near Ukraine, though rejecting Western prophecies of invasion as "hysteria".  Bitcoin's average 30-day volatility has fallen to 3.48%, versus its 2021 average of 4.56%, according to BuyBitcoinWorldwide's volatility index.


Data platform Coinglass' bitcoin Fear & Greed index, which measures market sentiment - 0 indicates extreme fear and 100 is extreme greed - stands at 46, above the nervy 11-33 range where it had been trading since late November.  Matthew Dibb, chief operating officer of Singapore-based crypto platform Stack Funds, said he was bullish on crypto in the longer term as an alternative asset and a hedge to world events - "But not quite yet."  "We are beginning to see some discorrelation between bitcoin and the equities market, which is very nice," he added. "But while we're seeing some traditional safe havens pop off with the Ukraine and Russia situation, we haven't really seen that in crypto."


CRYPTO SUPERPOWERS  

Meanwhile: A new law for crypto assets expected to be announced in Russia this week could potentially shape the global scene.  Russia's importance for cryptocurrencies has been growing over the past year after a ban on bitcoin mining in China, previously the world's dominant centre for the activity, sent miners scrambling for alternatives. 


Russia had become the third-largest centre for bitcoin mining in the world as of last August, according to data from Britain's Cambridge Centre for Alternative Finance.  The United States accounts for the largest share of mining, about 42.7% of the global "hashrate" - the computing power being used by computers connected to the bitcoin network - followed by Kazakhstan and Russia with 18.1% and 11.2% respectively.  Some industry watchers believe Russia might have since overtaken Kazakhstan, where miners have contended with government internet shutdowns during unrest this year.

Archive World News And Events

U.S. Says Russia Could Invade Ukraine at Any Time

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

U.S. Says Russia Could Invade Ukraine at Any Time

 NY Times Feb. 11, 2022Updated 11:35 p.m. ET 

 WASHINGTON — The Biden administration warned on Friday that President Vladimir V. Putin of Russia could mount a major assault on Ukraine at any time, having built up formidable land, sea and air forces on three sides of its smaller neighbor. 


Escalating military preparations by Russia and its separatist allies in Ukraine indicate that an attack could come within days, American officials say. 


U.S. intelligence officials had initially thought Mr. Putin was prepared to wait until the end of the Winter Olympics in Beijing before possibly ordering an offensive, to avoid antagonizing President Xi Jinping of China, a critical ally. In recent days, they say, the timeline began moving up, an acceleration that Biden administration officials began publicly acknowledging on Friday.

“We continue to see signs of Russian escalation, including new forces arriving at the Ukrainian border,” Jake Sullivan, the president’s national security adviser, told reporters on Friday, adding that an invasion could begin “during the Olympics,” which are scheduled to end on Feb. 20.



Will there be a World War Three?

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

U.S. Says Russia Could Invade Ukraine at Any Time

THE WEEK STAFF 8 FEB 2022 


Threat of all-out conflict looms as tensions escalate over geopolitical flashpoints including Ukrainian border


As tensions ramp up between the West and its antagonists in Russia and China, fears are growing that proxy wars could develop into wider armed conflict.  US officials have warned that a Russian invasion of Ukraine could lead to 50,000 civilian deaths and spark a significant refugee crisis in Europe. Elsewhere, international analysts are wary of multiple hotspots where Beijing might want to make its military mark over the next decade.


Russia US officials claimed at the weekend that Russia has assembled around 70% of the military force it would need to mount a full-scale invasion of Ukraine “and is sending more battalion tactical groups to the border with its neighbour”, reported Reuters.


French President Emmanuel Macron spoke to his Russian counterpart Vladimir Putin over a five-hour dinner on Monday, but did not appear to reach a breakthrough. He is due to meet Ukraine’s president, Volodymyr Zelenskiy, today before briefing Putin again via telephone.  Both sides sought to temper expectations before the meeting, with Macron saying: “I don’t believe in spontaneous miracles.”

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

CNBC NEWS

Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images


As CNBC previously noted, Dorsey is a well-known advocate for cryptocurrency, namely bitcoin. Square also owns some bitcoin, and has tentative plans to mine the cryptocurrency.  Extended periods of hyperinflation can cause entire currencies to collapse, which suggests that Dorsey’s prediction could be a subtle plug for investing in cryptocurrencies as a hedge against massive inflation. Investors like billionaire Paul Tudor Jones have also touted cryptocurrency for the same reason.  “I think people who are worried about inflation use that as a reason to justify going into bitcoin,” Itay Goldstein, a professor of economics and finance at the University of Pennsylvania’s Wharton School, tells CNBC Make It. 



Donald Trump want to add a Citizen Question to the Census

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

Jack Dorsey is worried about ‘hyperinflation’ — these experts say you shouldn’t be that scared

  

Politics

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

HuffPost Sam Levine,HuffPost 21 hours ago 


President Donald Trump tweeted Monday that the 2020 decennial census would be “meaningless” and “a waste” if it doesn’t contain a question asking people whether they are U.S. citizens.

The Trump administration’s decision to add a citizenship question has been met with widespread criticism from advocacy groups and Census Bureau experts. They say the question will cause fewer people ― particularly immigrants and people of color ― to respond to the survey, which every 10 years attempts to count every living person in the United States.

An undercount would have lasting and severe consequences. The census is used to determine how electoral districts are drawn and to help determine how $880 billion in federal funds are allocated each year. Trump’s Monday tweet marks exactly one year until census day, and many groups are already trying to drum up enthusiasm about the decennial count and educate people about the importance of responding.

Data from the decennial census provides essential information to policymakers that has nothing to do with citizenship. State and local governments use the data for planning and businesses use it to make decisions, said John Thompson, who served as director of the Census Bureau from 2013 to 2017. Almost every household survey uses data from the census as a benchmark to make sure their own samples are representative, Thompson said, and inaccurate U.S. Census data would lead to a chain reaction of distorted information for the next decade.

“Large companies, folks in the real estate business, in retail, they are using the intricacies of the population data to make decisions about where they’re going to site a business, if they’re going to open one at all, exactly where should it be to get the best bang for the buck for what they’re trying to do,” said Howard Fienberg, vice president for advocacy at the Insights Association, which represents the interests of the marketing research and data analytics industry. “It’s bread and butter for decision-making for the whole of the private sector in so many ways.”

While different Census Bureau surveys have asked a sample of Americans about citizenship, the decennial survey, which goes out to every American household, has not asked about citizenship status since 1950.

Terri Ann Lowenthal, a census consultant who formerly worked as staff director of the House Census and Population Subcommittee, noted that the Constitution requires the government to count all “persons.” It says nothing, she added, about only counting citizens.



Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

 

 “The president directly contradicts the constitutional mandate for the census, which is to count all people living in the United States regardless of immigration status or citizenship for the purpose of equal political representation,” Lowenthal said in an email. “By suggesting that the census must ask about citizenship to be worthwhile, the president is both making the Census Bureau’s job much harder and potentially sending the nation towards a constitutional crisis that would be triggered if the public loses confidence in the objectivity of the process.” A spokesperson for the Commerce Department declined to comment for this article, citing pending litigation before the Supreme Court. Steven Dillingham, the director of the Census Bureau, told NPR on Monday that the bureau has to be “totally objective” about the question.

Two federal judges have already blocked the Trump administration from adding a question about citizenship to the 2020 survey, saying the administration ran afoul of federal law during the decision-making process and that the question itself would violate the Constitution. The Supreme Court is expected to hear the case later this month.

The Trump administration initially said it was adding the citizenship question at the request of the Department of Justice so it could better enforce the 1965 Voting Rights Act. Many were skeptical of that justification, because the decennial census has never asked about citizenship status during the time the law has been in place.

Documents made public as part of litigation over the citizenship question confirmed that suspicion. They showed that Commerce Secretary Wilbur Ross, who oversees the Census Bureau, was interested in adding a citizenship question to the 2020 census long before the Justice Department requested that he do so. The documents also showed that the Justice Department only asked for a citizenship question after Ross asked them if they would make a request.

John Gore, a political appointee at the Justice Department who played a key role in requesting the citizenship question, struggled to explain in a sworn deposition how exactly the question would allow the department to better enforce the Voting Rights Act.

The Trump administration’s interest in adding a citizenship question may be linked to how redistricting is done. Emails made public as part of the litigation show that Ross talked with former Kansas Secretary of State Kris Kobach (R) about adding the question. In an email, Kobach said it was a problem that noncitizens are counted as part of the population for the purposes of drawing electoral districts.

Ross has downplayed Kobach’s influence on his decision to add the question.

“I have no control over what Kris Kobach or anyone else puts in an email to me,” Ross said during a congressional hearing on the citizenship question last month.

· This article originally appeared on HuffPost.

China and Russia have deep financial ties to Venezuela. Here’s what’s at stake.

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

Trump Says The Census Is Pointless Without A Citizenship Question. That's A Lie.

By Stephen B. Kaplan and
Michael Penfold

February 22, 2019 

A month ago, Venezuelan National Assembly President Juan Guaidó refused to recognize the legitimacy of President Nicolás Maduro’s fraudulent May 2018 reelection. Guaidó declared himself interim president, calling for new elections — and quickly garnered the support of the United States, Canada, most of the European Union and a dozen Latin American nations.

Absent from that list are two countries with major financial interests in Venezuela: China and Russia. It has been a tale of two creditors, each with a concentrated financial exposure to Venezuela yet distinct foreign policy aims. Our research, reflected in two recently published Wilson Center reports, examines these differences in Chinese-Venezuelan and Russian-Venezuelan economic relations. Here’s what you need to know:

 1. For China, oil ties mean Beijing has to be pragmatic about nonintervention.  

China’s policy banks hoped to avoid the failings of other creditors in Latin America by circumventing the need for policy conditionality with commercial conditions. Beijing used loans-for-oil deals, wagering that the production capacity of Venezuela’s state oil company (PDVSA) was a sufficient guarantee for debt repayment.

This was a miscalculation. China overestimated Venezuela’s ability to sustain oil production and, hence, economic activity, but also its ability to successfully manage several commercial projects that were spread across broad sectors of the economy. China thus paid a high cost when Venezuela fell into arrears on its oil collateral and failed to finance transportation projects in 2014 amid the country’s worsening economic crisis and historic oil sector collapse.

As Venezuela’s economy worsened, China grew cautious 

With China’s loans tied to oil production, China’s policy banks were compelled to lend defensively — rolling over about $9 billion of existing bilateral funds — in the hope of boosting Venezuela crude output and recovering their oil collateral. But Beijing also grew reluctant to extend any new financial arrangements, as China became more circumspect about Maduro’s ability to manage the economy. At its peak, between 2010 and 2013, Venezuela accounted for an average of 64 percent of China’s new approved lines of credit to Latin America. But from 2014 to 2017, Venezuela represented 18 percent of China’s total new lines of credit to the region.

[Why did China stand by Maduro in Venezuela?]

China’s strategy revolves around a pragmatic commitment to “nonintervention,” protecting its considerable financial commitments by hedging politically as well as commercially. Chinese leaders courted Venezuela’s opposition leaders during the 2012 presidential and the 2015 parliamentary elections. Guaidó representativesreportedly met with Chinese officials last week to discuss Venezuela’s $20 billion outstanding debt to China.

Guaidó has sought to build on this diplomatic momentum, saying that China’s “support will be very important in boosting our country’s economy and future development.” In Beijing, a statement from the Ministry of Foreign Affairs seemed to reciprocate, saying, “No matter how the situation evolves, China-Venezuela cooperation should not be undermined.”

2. Russia is looking to boost both its geopolitical and economic capital

Beginning in 2015, as China grew more cautious and concerned about its exposure in Venezuela, Russia provided about $6.5 billion in new funds through its state-owned enterprise, Rosneft, to Venezuela’s state-owned oil company. Previously, the cornerstone of the Russia-Venezuelan relationship had been military ties, with Venezuela buying more than $4 billion in Russian arms and military equipment.








Archive World News And Events

Trump Signs Bill Reopening Government for 3 Weeks in Surprise Retreat From Wall

WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US

WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US


 President Trump said he would end the partial government shutdown for three weeks while negotiations over the border wall continue. He also indicated that he was open to declaring a national emergency or shutting down the government again if Republicans and Democrats cannot reach an agreement on wall money by the February deadline.CreditCreditSarah Silbiger/The New York Times 


 











WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US

WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US

WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US

 MARK OSBORNE, GUY DAVIES and LUCIEN BRUGGEMAN  Good Morning America•April 11, 2019    

WikiLeaks founder Julian Assange gestures as he speaks on the balcony of the Ecuadorian embassy, in London. A senior Ecuadorian official said no decision has been made to expel Julian Assange from the co (The Associated Press)

More

The dramatic arrest of Assange played out Thursday morning in London, when Metropolitan Police executed a warrant for Assange's arrest on behalf of Westminster Magistrates' Court. Police said they were invited into the Ecuadorian Embassy by Ambassador Carlos Abad Ortiz after the Ecuadorian government withdrew the WikiLeaks founder's asylum status.

During his initial court appearance on Thursday, Assange offered no evidence and was found guilty of breaching his bail. The judge described Assange as “a narcissist who cannot get beyond his own selfish interests.”

He now faces up to 12 months in jail and will be sentenced at a later date. Until then, Assange will remain in custody.

(MORE: Roger Stone sought contact with WikiLeaks' Julian Assange, email suggests)

The warrant for his "failure to appear” dates back to a now-closed rape inquiry in Sweden that has been active for the past seven years. The rape investigation was dropped by Swedish prosecutors in 2017 as they could not gain access to Assange while he was inside the Ecuadorean Embassy, but an investigation could still be resumed as the allegation is not subject to a statute of limitation until mid-August 2020.

Police had been unable to arrest him while he held the status of asylum seeker in the Ecuadorian Embassy in London, where he had been confined since 2012.

U.S. Military Wary of China’s Foothold in Venezuela

WikiLeaks founder Julian Assange arrested after 7 years of hiding out; indicted in US

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

 Commander of U.S. Southern Command Craig Faller, testifies during a U.S. Senate Armed Services Committee hearing on Capitol Hill in Washington on Feb. 7. (Saul Loeb/AFP/Getty Images)    

 BY LARA SELIGMAN | APRIL 8, 2019, 5:29 PM 


As U.S. President Donald Trump’s national security team mulls a military intervention to oust Venezuela’s strongman president, Nicolás Maduro, the Pentagon is watching China’s commercial and financial creep in the crisis-gripped nation with growing alarm.

In an interview with Foreign Policy, Adm. Craig Faller, the four-star military officer who heads U.S. Southern Command, pointed to a Chinese disinformation campaign designed to blame the United States for the blackouts that devastated Venezuela in recent weeks.

 

Maduro, whose government is backed by China, Russia, and Cuba, has himself publicly accused the U.S. Defense Department of causing the blackouts. Following the power failures, Beijing offered to help the Venezuelan government restore its grid.

“China came out publicly, a state spokesman, implying the blackouts were attributable to U.S. cyberattacks,” Faller said during a recent trip to Washington, D.C. “That is just such a blatant lie. The blackouts are attributed to Maduro’s inept leadership, corruption, inattention to his people, and lack of concern for any humanity.”

The Pentagon is worried about China in other arenas as well. In the Pacific, China is building up its military capability, intimidating its smaller neighbors, and threatening Taiwan. In Africa, Beijing is using debt diplomacy to gain control of crucial ports and other infrastructure.

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

  By Jeremy Diamond, Elise Labott and Veronica Stracqualursi, CNN

Updated 1:31 PM ET, Sat September 8, 2018


Washington (CNN)US officials met secretly with Venezuelan military officers who were plotting a coup against Venezuelan President Nicolas Maduro, both a current and a former US official confirmed to CNN.

American officials met with the renegade Venezuelan military officers several times over the last year after the Venezuelan officers made contact, but Washington ultimately decided against supporting the coup, the two sources said.The US did not provide the Venezuelan officers with any support and the plans for the coup ultimately fell apart, the sources said.The Trump administration's discussions with the Venezuelan military officers about a potential coup were first reported Saturday morning by the New York Times. The current and former US officials confirmed to CNN that report is accurate.The White House declined to comment on the meetings between US officials and Venezuelan military officers, but said in a statement the US continues to support "a peaceful orderly return to democracy in Venezuela.""U.S. policy preference for a peaceful, orderly return to democracy in Venezuela remains unchanged. The United States government hears daily the concerns of Venezuelans from all walks of life -- be they members of the ruling party, the security services, elements of civil society or from among the millions of citizens forced by the regime to flee abroad. They share one goal: the rebuilding of democracy in their homeland," said National Security Council spokesman Garrett Marquis. 

World War 3 WARNING as nations on brink of NUCLEAR APOCALYPSE 'doomsday clock is ticking'

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

World War 3 WARNING as nations on brink of NUCLEAR APOCALYPSE 'doomsday clock is ticking'

 THE WORLD could be on the brink of "nuclear apocalypse" as the "doomsday clock is closer to midnight than it has ever been," a prominent US activist and author has warned.

 

David Swanson, author of several anti-war books and organiser of peace demonstrations, argued “madness” and a “drive to dominate the world” underpinned the threat of all-out war between the world’s leading powers.

He told Express.co.uk: “The doomsday clock is closer to midnight than it has ever been.

“The actual danger of nuclear apocalypse is greater than it has ever been - exacerbated by the fact people are far less aware of it than they used to be.

“We ought to be scared out of our minds by nuclear apocalypse.”

 






Trumps Signs Criminal Justice Reform First Step Act Into Law!

US officials secretly met with Venezuelan military officers plotting a coup against Maduro

World War 3 WARNING as nations on brink of NUCLEAR APOCALYPSE 'doomsday clock is ticking'

 

President Trump signs criminal justice reform First Step Act into law

DECEMBER 21, 2018 03:30:20 PM Erin McCarthy Holliday 


 President Donald Trump signed on Friday the First Step Act, a bipartisan criminal justice reform bill aimed at reducing recidivism and refining sentencing laws and harsh penalties.

The US Senate approved the Act Tuesday with a vote of 87 to 12, and the House signed it Thursday 358-36.

The bill expands in-prison and post-release employment programming, includes components related to alternatives to prison for low-risk prisoners such as home confinement, prohibits restraints on pregnant prisoners, and mandates evidence-based treatment for opioid and heroin abuse, among others.

The bill revises the Controlled Substances Act’s harsh drug penalties, including a lowering of the “three strikes” rule for drug felons that had sent them to life in prison, now down to 25 years, and it changes the two or more felonies within the rule from any “felony drug offense” to “a serious drug felony or serious violent felony,” defined in the text of the bill.

“The First Step Act will help prepare inmates to successfully rejoin society and enact commonsense sentencing reforms to make our justice system fairer for all Americans,” said a White House statement.

Archive World News And Events

Trump Declares National Emergency to Build Border Wall

Trump Declares National Emergency to Build Border Wall

Trump Declares National Emergency to Build Border Wall

 

WASHINGTON — President Trump declared a national emergency at the border on Friday to access billions of dollars to build a border wall that Congress refused to give him, transforming a highly charged policy dispute into a fundamental confrontation over separation of powers.

In a televised announcement in the Rose Garden, Mr. Trump said he would sign the declaration to protect the country from the flow of drugs, criminals and illegal immigrants coming across the border from Mexico, which he characterized as a profound threat to national security.

“We’re going to confront the national security crisis on our southern border and we’re going to do it one way or the other,” he said. “It’s an invasion,” he added. “We have an invasion of drugs and criminals coming into our country.”

The declaration will enable Mr. Trump to divert $3.6 billion budgeted for military construction projects to the border wall, White House officials said. Mr. Trump will also use more traditional presidential budgetary discretion to tap $2.5 billion from counternarcotics programs and $600 million from a Treasury Department asset forfeiture fund.

Toxic black snow covers Siberian coalmining region

Trump Declares National Emergency to Build Border Wall

Trump Declares National Emergency to Build Border Wall

 

Residents of a coalmining region in Siberia have been posting videos online showing entire streets and districts covered in toxic black snow that critics say highlight a manmade ecological catastrophe.

In one video, filmed in Kiselyovsk, a town in the Kuzbass region, a woman drives past mounds of coal-coloured snow stretching to the horizon, covering a children’s playground and the courtyards of residential buildings. The scenes in the footage were described as “post-apocalyptic” by Russian media.

The coal dust that turns the snow black in the Kuzbass comes from numerous open pit mines that environmental activists say have had disastrous consequences for the health of the region’s 2.6 million people, with life expectancy three to four years lower than Russia’s national average of 66 for men and 77 for women.

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Trump Declares National Emergency to Build Border Wall

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

Jane Recker 

Step Inside Winter’s Most Spectacular Wonderland at the Harbin Ice and Snow Festival in Northeast China



 Every winter, millions of tourists flock to Harbin — a city in the northeast corner of China—to stand in temperatures nearing -40 degrees Fahrenheit and look at giant blocks of ice. Of course, it helps when those ice blocks are skillfully arranged to create a replica of the Colosseum, lit from the inside by multi-colored incandescent lights to glow under the inky winter sky.
 

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

Donald Trump want to add a Citizen Question to the Census

World War 3: IRAN STANDING UP FOR THEIR RIGHTS!

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

NATO CONFRONTS Putin - Alliance sends WARSHIPS to Black Sea and plans aid to Ukraine

NATO CONFRONTS Putin - Alliance sends WARSHIPS to Black Sea and plans aid to Ukraine

Promote cur World Government Summit: Leaders prioritize climate change solutions rent deals

NATO CONFRONTS Putin - Alliance sends WARSHIPS to Black Sea and plans aid to Ukraine


IN A move which risks infuriating Russia, NATO is looking to increase support for Ukraine, currently in conflict with Russian-backed separatists, and will hold naval exercises in the Black 

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