American Foreign Policy

Behind the Banking Crisis.

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I want to recommend a good piece at Conservative Tree House, which I read every day.

It is this post which connects a few dots.

This is where we need to keep the BRICS -vs- WEF dynamic in mind and consider that ideologically there is a conflict between the current agenda of the ‘western financial system’ (climate change) and the traditional energy developers. This conflict has been playing out not only in the energy sector, but also the dynamic of support for Russia (an OPEC+ member) against the western sanction regime. Ultimately supporting Russia’s battle against NATO encroachments.

The war in Ukraine, which probably would not have begun if Trump was president, led to a war of economic interests. The western democracies have invested their future in “climate change,” which used to be “global warming” before the failure to warm made that slogan obsolete. Climate change has evolved into a war on energy production. The Biden regime now has even gone after gas stoves. Since I just bought one, I have an interest. Now, they seem to be going after washing machines. Ours has failed recently so I had better be quick to replace it.

The recent Credit Suisse bank crisis is complicated by the refusal of its largest shareholder, the Saudis, to help with a bail out. Why would this be ? This brings up the topic of BRICS. This is a new financial combination made up of Russia, China, Brazil, India and South Africa.

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Woke Democrats and Environmentalists will scare off our allies.

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The Russian invasion of Ukraine has set off radical changes in international relationships. The US and other (not all) European nations have imposed severe sanctions on Russia designed to destroy its economy. The precedents set are not all positive. First Ukraine has defined corruption for years. The Biden family and even Mitt Romney’s family got positions on a Ukrainian gas company’s Board for lots of money and no work except influence. The “Maiden Revolution” in 2014 was engineered by the Obama CIA. It expelled a pro-Russian president duly elected in an election probably more honest than the US 2020 election. Not all agree that it was an honest process.

As Ukraine’s political crisis deepened, [Victoria] Nuland and her subordinates became more brazen in favoring the anti-Yanukovych demonstrators. Nuland noted in a speech to the U.S.-Ukraine Foundation on December 13, 2013, that she had traveled to Ukraine three times in the weeks following the start of the demonstrations. Visiting the Maidan on December 5, she handed out cookies to demonstrators and expressed support for their cause.

The extent of the Obama administration’s meddling in Ukraine’s politics was breathtaking. Russian intelligence intercepted and leaked to the international media a Nuland telephone call in which she and U.S. ambassador to Ukraine Geoffey Pyatt discussed in detail their preferences for specific personnel in a post-Yanukovych government.

Ukraine has remained an economic basket case in spite of the change to a pro-western government.

The furious reaction to the invasion by US officials has alarmed some nations that have remained neutral. Some of them have been our allies, or at least friendly.

In a development that suggests trouble ahead, China’s basic approach—not endorsing Moscow’s aggression but resisting Western efforts to punish Russia—has garnered global support. South African President Cyril Ramaphosa blamed the war on NATO. Brazil’s president, Jair Bolsonaro, refused to condemn Russia. India and Vietnam, essential partners for any American strategy in the Indo-Pacific, are closer to China than the U.S. in their approach to the war.

Western arm-twisting and the powerful effect of bank sanctions ensure a certain degree of sanctions compliance and support for symbolic U.N. resolutions condemning Russian aggression. But the lack of non-Western enthusiasm for America’s approach to Mr. Putin’s war is a phenomenon that U.S. policy makers ignore at their peril.

The dominant role played by the “Woke” left and the Green New Deal enthusiasts in the Democrat Party has concerned many of them. Right now, Democrats hold all three branches of government, although narrowly.

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Is the Biden regime creating a “Wag the Dog” scenario with Ukraine ?

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There is considerable talk in the media right now about Russia and Ukraine. Russia has moved troops close to the Ukrainian border. The Biden regime, which has no interest in the US southern border, has expressed alarming determination to stop a Russian invasion of Ukraine. Why are they so interested in a corrupt country that has no strategic importance to us ? Certainly the Biden family has profited from Ukraine. Hunter Biden, who seems to be the family bagman, was paid $50,000 a month by the Ukraine Burisma gas company.

It was in April 2014 that Hunter became a board member for Burisma with at least $50,000 per month compensation, and $83,000 by some accounts.

The board appointment for someone who had no experience in the energy industry or in Ukraine came just months after Hunter was discharged from the U.S. Navy Reserves after testing positive for cocaine.

Burisma’s board chairman, Alan Apter, said, “This is totally based on merit.” Apter added: “The company’s strategy is aimed at the strongest concentration of professional staff and the introduction of best corporate practices, and we’re delighted that Mr. Biden is joining us to help us achieve these goals.”

Recently, the president of Ukraine, in a phone call from Biden, is alleged to have told Biden to “calm down.” The transcript of the call has not been released.

Why the threats, including moving 8500 US troops to eastern Europe ? Back in the 1990s, there was a movie called “Wag the Dog.” The plot was “Shortly before an election, a spin-doctor and a Hollywood producer join efforts to fabricate a war in order to cover up a Presidential sex scandal.” Is that what is going on now ?

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The Close of the American Century.

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The Presidency of Teddy Roosevelt is often considered the beginning of “The American Century.” The Great White Fleet circled the world. The US defeated Spain in the Spanish American War, probably instigated by the US as it fought to “free” Cuba and the Philippines “fell” into our Empire. Our iron and steel production had surpassed that of Europe. Problems began in 1912 when leading “Progressive” Woodrow Wilson was elected President. This came about as Teddy Roosevelt, for reasons that were not clear, opposed his own successor, William Howard Taft. Roosevelt formed his “Bull Moose” party and divided the vote, electing Wilson. In 1916, Wilson was re-elected, promising to keep us out of World War I. In 1917, following Germany’s decision to wage unrestricted submarine warfare, Wilson declared war on Germany, thus disclosing his lie.

America entered the war in 1917 at the cost of 53,000 lives lost. The intervention probably led to the 1918 Armistice and the Treaty of Versailles, which French Marshall Foch called (accurately) “an armistice for 20 years.” Wilson’s Progressive rule included many similarities to Fascism that would be come more apparent in years to come. Harding and Coolidge were elected in 1920 and reversed many of Wilson’s policies. The next 9 years were marked by prosperity and a surge of innovation. The German war debts, plus those of the allies, put pressure on the international economic system, which resulted in the 1929 panic and elected Franklin Roosevelt in 1932 as Herbert Hoover’s attempts to cope with the 1929 crash failed. Roosevelt campaigned on a platform of a “balanced budget,” which was quickly abandoned once elected. Roosevelt’s experimentation with the economy produced no better results until World War II provided the stimulus to spending plus the absorption of millions of unemployed and an economic boom followed. The cost of this war was 407,000 American lives but it left us with the only undamaged industrial system in the world. A real Boom followed until Lyndon Johnson got us involved in the Vietnam War plus The Great Society, both of which brought us close to financial ruin.

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Corruption rules our country today.

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I am succumbing to temptation to repeat a post from 4 years ago. The reason is that the problem is now far worse. We do not have just a Principle agent problem, the country is run by corporate renegades and those on foreign payrolls.

The principalagent problem, in political science and economics, (also known as agency dilemma or the agency problem) occurs when one person or entity (the “agent”) is able to make decisions on behalf of, or that impact, another person or entity: the “principal”.[1] This dilemma exists in circumstances where agents are motivated to act in their own best interests, which are contrary to those of their principals, and is an example of moral hazard.

The Founders were well aware of this problem and tried to protect the citizens with certain provisions of the Constitution.

“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”

This provision was violated by Barack Obama who spent billions to subsidize insurance companies to support his “Affordable Care Act” which was not successful.

Of course, the Amendments were intended to protect the rights of the people but the one that has been ignored for 100 years is the Tenth.

“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”

The Civil War largely ended Federalism.

In recent years, political parties have mislead their voters, the worst offender being the Republican Party. The Democrats posture as the party of the working man but it has become a party with two wings, the rich who want social liberties, and the poor who want to be taken care of. Jay Cost has written a good book about the Democrats Party called, “Spoiled Rotten, which explains the current policies of the party that has adopted “Identity politics” in which race and victim status has become a principal focus. My own review of the book is here.

The Republicans have gradually become the party of small business but the interests of small business are not being considered as paramount as the party seems to be evolving into another party of professional politicians whose personal interest trumps (so to speak) the interests of the voters. The result has been the rebellion of the Tea Party and more recently the election of Dave Brat, an economics professor, to Congress defeating Eric Cantor, a member of the GOP leadership, in 2014.

The election of Donald Trump has presented the GOP Congress with a crisis to which many have responded by retiring. One wonders what the next step of their career will be. Few, I suspect, will return home to the district that elected them. Most will remain in DC as Cantor has done.

Immediately thereafter, Cantor accepted a position as vice chairman of investment bank Moelis & Company. and,

In February 2015, the firm opened its Washington DC office, following the hire of Eric Cantor, former House Majority Leader, in September 2014.

That was bad enough in 2017 but we now have President Ron Klain, elected by no one, with Joe Biden as a prop when he can read his cue cards.

I think Angelo Codevilla’s piece about “The Ruling Class” has the best explanation.

When this majority discovered that virtually no one in a position of power in either party or with a national voice would take their objections seriously, that decisions about their money were being made in bipartisan backroom deals with interested parties, and that the laws on these matters were being voted by people who had not read them, the term “political class” came into use. Then, after those in power changed their plans from buying toxic assets to buying up equity in banks and major industries but refused to explain why, when they reasserted their right to decide ad hoc on these and so many other matters, supposing them to be beyond the general public’s understanding, the American people started referring to those in and around government as the “ruling class.” And in fact Republican and Democratic office holders and their retinues show a similar presumption to dominate and fewer differences in tastes, habits, opinions, and sources of income among one another than between both and the rest of the country. They think, look, and act as a class.

Now, we have a ruling class whose loyalty seems to be to other governments, China, Russia, The EU ? Who are they working for? Biden attacks BREXIT, Supporting the EU over the UK, infuriating the British ruling party. Labour has already ridiculed Biden for his dementia. Who is writing Biden’s speeches ?