Thursday, January 12, 2017


News Links, January 13, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
UBS Warns: Spain's "Most Italian Bank" Runs Out of Options
The Path to $10,000 Bitcoin
Many people might well put their money in bitcoin, and it might rise to US$10,000, or even higher. Personally, I don't own a single bitcoin, and I have no plans to buy any. Here's why: The global economy looks sicker every day. You have to get out your binoculars to search for any bright spots, and even those are losing their shine. Two bad things are going to happen. First, the financial system will crash. Since financing is needed to build, maintain, and operate large-scale energy and internet infrastructure, this is going to severely crimp the credit lines needed to keep these systems going. Second, as the global economic crash spreads, more and more people will become unable to pay their internet and electricity bills (it doesn't take everyone, just a critical mass). This will be the second half of the double-punch to these systems. Battered and weakening fast, ISPs and electric utilities start to go belly-up. It's obvious that bitcoin and other cryptocurrencies are living on borrowed time. (Disclaimer: This is not investment advice.) -- RF
This episode shows once again that bitcoin, with price fluctuations of 10% or even 20% in a single day, up or down, is not a practical currency that is usable for legitimate commerce, nor will it ever be, despite the hype that one surrounded it.

## War on cash/cashless society ##
Central Bank Cites Security Threat in India Cash Mystery
India's central bank refused to share specific details of Prime Minister Narendra Modi's ban on high-value banknotes citing danger to life and national security, as the mystery deepens over who took the unprecedented decision.
A Well-Kept Open Secret: Washington Is Behind India's Brutal Experiment of Abolishing Most Cash
Cash-Banning Harvard Professor Slams "Ignorant" Negative-Rate-Naysayers

## Airline death spiral ##
Mumbai airport on edge after Interpol alert, bomb call

## Fault lines/flashpoints/powder kegs/military/war drums ##
How Obama Spread the Mideast Fires
Barack Obama is one of the "coolest" American presidents, but his "team of rivals" approach to governing – trying to accommodate and co-opt his adversaries – proved disastrous, especially in the Mideast.
Obama's Unkept Promise on Nuclear War
By ratcheting up tensions with Russia, U.S. national security is raising risks of accidental nuclear war with missiles still on hair-trigger alert — despite President Obama's promises.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Watch: Protests Erupt at Jeff Sessions Confirmation Hearing

## Energy/resources ##
My 2017 Energy Predictions (R-Squared Energy)

## Solutions ##
What's Truly Progressive?
What's progressive? Pushing power, agency, skills, capital and solutions down to the individual, household, community, enterprise, town and city levels and focusing on doing more with much less.

## Environment/health ##

## Intelligence/security/internet/cyberwar ##
Getting Rid of Social Networking Surveillance
The Hitler Diaries Mark II – or I Hope They Changed the Mattress
Michael Cohen has now stated he has never been to Prague in his life. If that is true the extremely weak credibility of the entire forgery collapses in total. What is more, contrary to the claims of the Guardian and Washington Post that the material is "unverifiable", the veracity of it could be tested extremely easily by the most basic journalism, ie asking Mr Cohen who has produced his passport.
[T]his is not a fight about who invented email. This is a fight about whether or not our legal system will silence independent publications for publishing opinions that public figures do not like.
Patrick Toomey, an attorney American Civil Liberties Union, told the Times he disagreed. "Seventeen different government agencies shouldn't be rooting through Americans' emails with family members, friends and colleagues, all without ever obtaining a warrant," Toomey told the newspaper.
With each passing day, it appears that Trump's opponents are even more unhinged and dangerous than Trump. -- RF

## Systemic breakdown/collapse/unsustainability ##
2017: The Year When the World Economy Starts Coming Apart

Local governments have strongly opposed shouldering more of the cost, and the talks are expected to face serious challenges. With 3½ years left until the Games, a mountain of other issues, such as security and transportation, must still be discussed.
UK Labour Leader Jeremy Corbyn Accused of "Collaborating with Russia" for Wanting Peace
Welcome to "everyone I disagree with works for Putin," the UK version.
The anti-Trump camp plans to disrupt Trump's inauguration ceremony to stop the slide toward fascism, but apparently they haven't noticed that the US has been on the road to fascism for years already. -- RF
Sheriff's Office Raids Home, Seizes All The Furniture, Ultimately Returns Everything But The Couch
The joke about asset forfeiture is that it's actually not a joke. Advisors to law enforcement have actually said it's a great way for cops to go shopping for things they want. It's not just cash being taken, although it's primarily that. It's vehicles, too. And when that just doesn't seem to be enough, it's houses. And everything in them.

## POTUS-elect ##
Mattis Warns Putin Trying to 'Break' Alliance, Voices NATO Support
At his confirmation hearing before the Senate Armed Services Committee, Mattis told Chairman John McCain, R-Ariz., he would even support a permanent US military presence in the Baltics to bolster the alliance.

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