I was listening to the news today and there were all these self-righteous people just happy as all get out that they had finally stomped Russia into the ground and ‘Russia is now finished,’ and Russia was broken and ‘would soon be an American vassal state where it belongs.’ And I was listening to this rot and got to thinking, ‘How can people be so utterly stupid?’ But they are, and they are just as stupid in Washington.
And in the meantime, as part of this process, Eric, we may see Russia unleash black swans that bring down the Western house of cards.
Suppose the Russian government says, ‘Well, since the attack on the ruble is political and you guys are attacking the ruble and causing us so much trouble, we are just not going to pay off the next traunch of our debt that comes due early in 2015.’
Well, the European banking system would collapse because those banks are terribly undercapitalized. Some of them have loans to Russia that almost absorb the entire capital base. So the Russians don’t even have to default. They can just say, ‘We’re not going to pay this year. We will do it later. We’ll do it when the ruble stabilizes.’ (Laughter).
You can understand the impact of such a decision by the Russians on the West. And given all the linkages and the interconnections — when Lehman Brothers went down it had just about as much adverse affect on Europe as it did the United States.
What would come from that? Who knows? There are all kinds of derivatives and credit default swaps everywhere. We know these derivatives now are some multiple of the world’s Gross Domestic Product. And nobody really knows who all the counterparties are. If the European banks start going down, who knows what the impact on this pile of derivatives would be? But the whole Western system is a house of cards. It’s not based on anything other than market manipulation. So it doesn’t take much of a push to knock it down.
The biggest black swan of all, Eric, if the Russians get thoroughly angry, all they have to do is call up the European governments and say, ‘We no longer sell natural gas or any other form of energy to members of NATO.’ The consequence would be the utter and total collapse of NATO. Not even a puppet state like Germany is going to let the people freeze to death, let the factories be closed down, and let the unemployment rate hit 40 percent. It’s just not going to happen — it would be the end of NATO….
Sony Pictures Entertainment should have touched base with the White House before deciding to cancel the release of a controversial movie, United States President Barack Obama said Friday.
Weighing in on the major Sony scandal only hours after federal investigators attributed the recent hack to North Korea, Pres. Obama said the Hollywood studio was wrong to pull “The Interview,” a satirical film containing a plot to kill North Korean Pres. Kim Jong Un that was scheduled to be released on Christmas Day.
At the same time, though, Obama said the attack should serve as a wake-up call to Congress and prompt lawmakers in Washington, DC to get serious about implementing cybersecurity legislation in the wake of what is only the latest hack to be endured by a major American company.
“Sony is a corporation, it suffered significant damage [and] there were threats against its employees,” Obama said during an end-of-year press conference at the White House. “I am sympathetic to the concerns that they faced. Having said all that, yes, I think they made a mistake.”
“I wish they would’ve spoken with me first. I would have told them: do not get into a pattern in which you’re intimidated by these kinds of criminal attacks,” he said.
After hackers infiltrated Sony’s network last month and then released pilfered data, threats were made against movie theaters that planned to show “The Interview” starting next week. On Thursday, Sony said the film would not be released.
Earlier Friday, the Federal Bureau of Investigation said it’s concluded that the Kim Jong Un regime has indeed, in the FBI’s opinion, was responsible for the attack.
“We cannot have a society in which some dictator someplace can starts imposing censorship here in the United States,” the president added during his address later that day. “Because if somebody is able to intimidate folks out of releasing a satirical movie, imagine what they’re going to start doing when they see a documentary they don’t like, or news reports they don’t like or, even worse, imagine if producers and distributors and others start engaging in self-censorship because they don’t want to offend the sensibilities of somebody whose sensibilities probably need to be offended. So that’s not who we are — that’s not what America is about.” …
But on the heels of similar breaches that brought significant harm and embarrassment to retail giant Target last year, and other companies in the interim, Obama said lawmakers should use the latest breach to go about getting a cybersecurity bill finally approved by Congress.
“In this interconnected digital world, there are going to be opportunities for hackers to engage in cyber-assaults both in the private sector and in the public sector,” Obama said.
“We’ve been coordinating with the private sector, but a lot more needs to done. We’re not even close to where we need to be,” the president said. …
Irony is lost on these people.
I have an idea: let’s put corporate censors at every chokepoint of the net to make sure the unwashed masses aren’t exposed to stolen “intellectual property” so that corporations and the government don’t have to bother securing their networks. We can turn the publicly owned and maintained intellectual capital of the entire internet, which itself was created by taxpayer-funded R&D, into corporate property because our modern day aristocrats are too lazy to maintain their firewalls. NOT. It would be like seizing all the printing presses to prevent the printing of the gutenberg bible, which also exposed “trade secrets” of the dominant corporate monopoly of the time.
The sony hack was obviously an inside job. No one outside the corporate bureaucracy had access to the information, bandwidth or time needed to download terabytes of data undetected. But it’s interesting that they chose north korea to blame. Why not putin? Will they find a way to insert china into this narrative?
This video was apparently broadcast on CNN in 2006. To the totally clueless, it shows the handiwork of “the islamic army in iraq” shooting US soldiers. …
The aim of these covert operations should be clear: to foment sectarian division in iraq. The side effect of additional american casualties is of no consequence to the interests that control the USA.
Larry Pinkney of BlackActivistWG.org joins us today to discuss how and why so many well-meaning Americans were bamboozled by Obama’s “hope and change” routine in 2008. We discuss the failed establishment left/right paradigm and how the misleaders of the left who rally their flock around the Democrat flag every election cycle, as well as how community activism can lift us out of the cycle of abuse inflicted on the people by the political machine.