As G-7 Fractures In Canada, Putin Meets Xi In China

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Originally appeared at ZeroHedge

While President Trump insults his erstwhile foreign partners in a colorful twitter tirade ahead of a G-7 (or rather, G-6+1) summit in Quebec, exposing the very real fragmentation of longtime western partnerships as the US cracks down on unfair foreign trade practices, a productive meeting between China’s “Emperor for Life” Xi Jinping and Russian President Vladimir Putin has been completely overshadowed, as Bloomberg points out.

As G-7 Fractures In Canada, Putin Meets Xi In China

The two leaders held their first meeting this year on Thursday ahead of the June 9 Shanghai Cooperation Organization meeting – an eight-member group led by China and Russia – which will be held in the port city of Qingdao.

But the west is ignoring the burgeoning partnership between the two countries – both permanent members of the UN Security Council – at its own peril. Because Putin and Xi are playing an ever-expanding role in resolving global disputes like, for example, the dispute between the US and North Korea. For example, both leaders support North Korea’s demands that any denuclearization agreement stipulate that the process happen in stages – something that the Pentagon initially opposed, though Trump has more recently said he’d be open to it.

“China and Russia have common interests in regards to the resolution of the Korean crisis,” said Alexey Muraviev, a Russia strategic and defense affairs specialist at Curtin University in Perth, Australia. “Their pragmatism is driven by the belief that it is better to have the regime that is in place rather than hope for another one.”

Indeed, the final shape of a North Korea denuclearization deal (assuming one is reached) will likely need the blessing of Beijing, if not both Beijing and Moscow, before it becomes a reality. Because ultimately both countries want to ensure that hostilities don’t break out on their borders with the North, and that US and NATO troops remain as far from their borders as possible. Already Russian Foreign Minister Sergei Lavrov has assured his North Korean counterpart that any deal “must involve the lifting of sanctions” – pushing back against the US’s insistence that sanctions won’t be lifted until North Korea is nearing full denuclearization.

China and Russia have been pushing for a deal between the US and North Korea since early last year, when tensions between the two geopolitical adversaries were still high. And it’s worth noting that the deal that is taking shape already resembles a compromise plan that the two countries jointly proposed back then: That the North agrees to halt its nuclear program while the US and South Korea cease military exercises. Of course, the latter’s unwillingness to stop its threatening military drills almost scuttled the meeting last month.

It’s understandable that North Korea wants security guarantees, given what happened to the former leaders of Libya and Iraq after they gave up their weapons, Putin said in an interview with China Media Group that was published Wednesday.

“Today it is difficult to say what these guarantees may look like or when they will come into effect,” he said.

The two leaders also called the US’s decision to leave the Iranian nuclear deal “disappointing” and said it was of “fundamental importance” to protect trade relations with the Islamic Republic. China is Iran’s trading partner, and both countries have said they will find a way to preserve Iranian trade to help preserve the deal without the US’s involvement.

In a move that will likely only further infuriate his European and North American peers, Trump is planning to leave the G-7 summit early, departing at 10:30 am on Saturday, and leave Everett Eissenstat, his deputy assistant for international economic affairs, in charge of the US’s delegation for the remainder of the summit. This gives Trump only about 24 hours to smooth over trade tensions with Emmanuel Macron and Justin Trudeau, Bloomberg reports. Trump has also warned he won’t sign the traditional concluding joint statement unless there’s progress on tariffs and trade issues. The EU, for what it’s worth, has said it has “low expectations” for a positive outcome. Tensions have been most evident between Canadian President Justin Trudeau and Trump, who on Thursday accused the Canadian leader of “being so indignant” given how Canada chooses t protect its dairy sector with high tariffs at the expense of US exports. The two leaders are set to meet face to face at 5 pm on Friday. Meanwhile, Putin has invited Kim to visit Russia after the US summit – though the North Korean leader has not yet accepted (Trump has also suggested that inviting Kim to Washington could be his next move after the June 12 Singapore summit).

As the meeting puts the fraying western relations on display, China and Russia are poised to present an image of fraternity and stability that no longer exists in the West. This will have long-ranging diplomatic implications for years to come.

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  • S Melanson

    First comment, I feel special.

    I have been watching this train wreck for some time and as a Canadian, it is certainly unfolding very close to home. I have also listened to media pundits speculating on Trump’s sanity, ability to think rationally, his intelligence and his moral character.

    To me, Trump is sane, rational and intelligent. I make no comment on his moral character, God will be the judge of that. I also believe there is method to Trump’s madness but to understand his madness, we need to understand his goals.

    Trump says Make America Great again. Well say what you may, whether you love America or despise America, the United States is a great country by almost any measure. So does this mean Trump will tear down America and then rebuild a new and greater America? Yes, I do think that is what he means.

    Trump has shown disdain for his allies, the treaties and alliances and longstanding relationships between countries and governmental and trans-governmental organizations. All of it, all that is globalist – the old globalists that is. Trump is draining the swamp, to make room for his own swamp. This is one set of elites replacing another. And the vision of the new ‘mandarins’ that will run the US is very different from what went before. And so, Trump is basically torching Us longstanding relationships on the world stage as they do not serve the interests of the new masters.

    What will emerge from the carnage is a question yet to be firmly answered. Will the US return to a more isolationist position on the world stage as it was prior to WWII? Possibly, but I think the US will retreat to some degree as elites are recognizing the US is overextended and this is not sustainable. This will most definitely be a welcome development. Let us hope for the best and think positively.

    • Barba_Papa

      I doubt that US elites see that the US is overextended. If anything they seem to want more global interventions. I do agree that Trump is completely sane and that his madness is way overplayed by the media that love to hate him. I suspect he is playing high stakes poker in that he aims very high in order to get the lower deal that he really wants. And I think the Canadians and Europeans will cave in, gutless spineless cowards as our leaders are, to give Trump some concessions that he would otherwise would never have gotten by sticking to the old trade agreements.

      • S Melanson

        Yes, that is also very plausible as it does seem the ‘(f)art of the deal’ is playing out on the world stage. High stakes indeed.

      • Jesus

        Trump sees US overextended in trying to fulfill old and somewhat meaningless obligations where US does not see any direct benefit, that was his platform when he campaigned for the presidency.

        • S Melanson

          Agreed although the extent of his commitment to what he promised we will have to see. I am quite certain the US will be stepping back, if anything to lessen the need for Trump to deal with the vipers in the EU and our Ken Doll Prime Minister here in Canada.

        • Barba_Papa

          That may have been his platform, but once in power he changed position faster then the speed of light. Out went the US First people, in came the NeoCons and the Israel First mob.

          • Jesus

            His platform changed temporarily in view of neocon political realities, Trump is hitting Wall Street and old globalists where it hurts. America first is still his main goal.

          • Nod

            roflmao…total BS. And time WILL tell. He is still spending debt for imperialism dimwit. Fuck voters are stupid.

            “America first is still his main goal.”

            How desperately stupid a person has to be to actually think the rich give a fuck about you.

            He was chosen by the rich, as a representative for what little brain matter you have left after drinking copious amounts of fluoride.

            read

            “In short, Really Existing Capitalist Democracy is very remote from the soaring rhetoric about democracy. But there is another version of democracy. Actually it’s the standard doctrine of progressive, contemporary democratic theory. So I’ll give some illustrative quotes from leading figures – incidentally not figures on the right. These are all good Woodrow Wilson-FDR-Kennedy liberals, mainstream ones in fact. So according to this version of democracy, “the public are ignorant and meddlesome outsiders. They have to be put in their place. Decisions must be in the hands of an intelligent minority of responsible men, who have to be protected from the trampling and roar of the bewildered herd”. The herd has a function, as it’s called. They’re supposed to lend their weight every few years, to a choice among the responsible men. But apart from that, their function is to be “spectators, not participants in action” – and it’s for their own good. Because as the founder of liberal political science pointed out, we should not succumb to “democratic dogmatisms about people being the best judges of their own interest”. They’re not. We’re the best judges, so it would be irresponsible to let them make choices just as it would be irresponsible to let a three-year-old run into the street. Attitudes and opinions therefore have to be controlled for the benefit of those you are controlling. It’s necessary to “regiment their minds”. It’s necessary also to discipline the institutions responsible for the “indoctrination of the young.” All quotes, incidentally. And if we can do this, we might be able to get back to the good old days when “Truman had been able to govern the country with the cooperation of a relatively small number of Wall Street lawyers and bankers.” This is all from icons of the liberal establishment, the leading progressive democratic theorists. Some of you may recognize some of the quotes.”
            Noam Chomsky

          • Jesus

            Can you think for yourself, instead of quoting others from yesteryear?
            The polical dynamics have changed considerably since the days of your quoters.

          • Nod

            Typical fluoridated stupidity, not understanding or appreciating precedence and expert point on evidence.

            Wanting to rely on personal opinions.

            “The polical dynamics have changed considerably since the days of your quoters.”

            This is the stupidity of opinion as knowledge. Nothing has changed moron.

            Certainly not just because you cant face the truth.

            “Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic-Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism.”

            Gilens, M., & Page, B. I. (2014). Testing theories of American politics: Elites, interest groups, and average citizens. Perspectives on Politics, 12(3), 564-581. DOI: 10.1017/

          • Jesus

            “””Typical fluoridated stupidity, not understanding or appreciating precedence and expert point on evidence.”””

            Expert point on evidence? Your level of understanding considers it expert point, God looks at all human expertise and dumps it in the trash can.

            “””Gilens, M., & Page, B. I. (2014). Testing theories of American politics: Elites, interest groups, and average citizens. Perspectives on Politics, 12(3), 564-581. DOI: 10.1017/”””

            As I said, God is not a respected of human opinion, He respects His Word.
            If you are going to discuss something, do it on the basis of divine guidelines, instead of babbling of corrupt minds.

            What cause corruption? Progression of sin and sinful expressions.

          • Nod

            right, as I said above, he is just another globalist puppet, with a bankers hand up his ass. You just dont’ want to hear that truth I guess…

      • Nod

        He is a puppet, following a plan. Just like the 6 before him.

    • Jesus

      If US tries to assume the isolationist posture of pre WW2, it needs to be more self sufficient, and undo the self destructive policies of the Wall Street for the last 3-4 decades of outsourcing key industrial assets overseas.

      • S Melanson

        Trump has certainly indicated his intention to rebuild the US manufacturing base and to do this it seems he is using protectionist policies such as high tariff walls. The industries that Trump has targeted with tariffs I suspect are industries Trump plans to rebuild in America.

        Tariffs in the past were effective in protecting domestic firms until they reached a point where they can go head to head with foreign competitors – US steel producers could not compete on price or match the quality of British steel but were shielded by high tariffs until they closed the gap in price competitiveness and quality. Once the gap was closed, tariffs were reduced and under free trade agreements, eliminated. The benefit was that competition would force firms to achieve greater efficiencies and to be more innovative – stay competitive.

        In today’s context, low labour costs overseas will present challenges to rebuild domestic capacity else protectionism will be needed as a long term policy instrument which will be detrimental in the long run as firms will not stay competitive and always be dependent on government protection.

        However, high value add and tech intensive industries can overcome such challenges and be rebuilt. Canada’s auto industry is an example of this. Canada successfully built a domestic automotive manufacturing sector that was initially protected by high tariffs but currently, the Industry in Canada enjoys no such protections yet continues to compete successfully.

        In fact, Ontario is the number one automotive production jurisdiction in North America, having passed Michigan in 2005 despite having no domestic auto firm of our own – head offices in Michigan consistently made production decisions favourable to Ontario which are lasting decisions due the capital intensive commitment and high sunk costs. Why Ontario and not Michigan? Hint, we invested heavily in robotics such that labour costs represented less than 10% of the cost to produce a car and it results in high efficiency and more uniform quality. So head offices in Michigan snubbed Michigan in favour of Ontario – Trump, take notice.

        For a more complete,discussion, I produced a report on Canada’s auto industry published by the Martin Prosperity Institute in February 2009 titled: Learning from the Past – Volume 1: the Automotive Industry and Economic Development in Ontario; a Historical Perspective by Stewart J. Melanson

        The PDF can be downloaded at no charge. The report is relevant to today, perhaps even more so now than at the time of my putting it to paper.

        • Nod

          “n today’s context, low labour costs overseas will present challenges to rebuild domestic capacity”

          You forgot the elephant in the room..Technological unemployment is the reason America can stay competitive now. It si the reason that manufacturing IS returning to the USA. Robots work for free.And they now out perform the useless eaters.

          “Manufacturing Jobs Aren’t Coming Back

          President-elect Trump’s promise to bring back production jobs ignores the realities of advanced manufacturing.”

          https://www.technologyreview.com/s/602869/manufacturing-jobs-arent-coming-back/

          • S Melanson

            Agreed. There are so many macro-forces in play it is dizzying. I believe it will go as you say, but there may be significant resistance given the history although unions have weakened.

            Historically, automation in American manufacturing has been resisted – for example, in automotive; answer to Japanese imports was quotas where in Canada we had no quotas but demanded plants be built in Canada (we learned their lean JIT methods) and we invested in robotics. This is why Ontario blew past Michigan in auto production in 2005 and remains the number one auto jurisdiction on North America.

            Will see how this plays out, not just US, but globally.

          • Nod

            ” When you are born in this world, you are given a ticket to the freak show”

            G.C.

          • S Melanson

            Made all the more joyous when you figure out you are expected to fit in.

          • Nod

            Another quote fits that. I am happy that I am actually ABLE to figure out for myself, to analyze and think independently of prejudice and beLIEf and the propaganda.

            Extremely happy I grew up in the country, not being fed fluoride in my water, able to maintain normal brain development.

            “People not only don’t know what’s happening to them, they don’t even know that they don’t know.”

            ― Noam Chomsky

            I too, live in Toronto.

          • S Melanson

            Yes, and Chomsky added that the more educated (indoctrinated), the truer that quote.

            We both live in Toronto! What are the chances…

    • Tudor Miron

      I assume that you mean that this is first comment to above article? (You could not see that someone is also typing shorter comment while you were writing your own).
      I will get back with my opinion a bit later.

      • S Melanson

        Yes, to the article, but is no big deal whether first or not. I look forward to your thoughts.

        Note that Trump rattled the other G7 leaders, again, by suggesting Putin be permitted to rejoin the group. That came out of left field.

        • Tudor Miron

          Thanks for your reply. That was important (for me) to ask, because as you can see one short reply got in while you were typing. Because of that I initially assumed that you mean that this was your first comment on SF and that was wrong assumption.

          I got some work to do now, but I will do my best to get back asap.

    • Nod

      Trump is a puppet. You babble. And America is a debt ridden relic of its past. Imperialism and mass murder its mandate. The printing press creates money = debt = slavery. And globalism rolls on.

      Nothing great, about it.

      And this theater over trade, squabbling over the insignificant, is ridiculous when we are slaves to debt, and driven to dirt by inequality.

      “Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits.”
      Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in

      Britain.

      • S Melanson

        As a favour to help prevent embarrassment in future, I will correct the factual errors and glaring logical fallacies. Hopefully, this will also make you a better scholar and historian.

        First, I think you meant Governor since no such position as President of the Bank of England exists or ever existed. But since Montagu Norman was Governor from 1920 until 1944, Stamp could not have been Governor.

        Secondly, Stamp was appointed to the Court of Directors of the Bank of England in 1928 as a non-executive Director. Stamp accepting the appointment would preclude him from holding any executive position at the Bank of England.

        Thirdly, the quote you attribute to Stamp is alleged to have been said in an informal talk in 1927 at the University of Texas. There is no record of this ever happening and the quote and attribution is viewed by historians as fake.

        If you entertain the possibility that historians are wrong and Stamp did say this, then we should examine the plausibility. If Stamp did say this in 1927, do you think Stamp would be invited to become a director of the Bank of England in 1928 – only one year later?

        Stamp’s credentials as a banker are impeccable and so it is strange he would use the term ‘deposits’ as it is incorrect in the context of the quote. Given Stamps deep knowledge of the banking system, he would not hav said something so amateurish.

        Overlooking the fact that Britain was still on the gold standard, your post is alluding to the use of fractional banking to create debt that was only 10% collateralized, the other 90% is money out of thin air (plus interest). This is why control over money supply is critical since the combo of fractional banking and printing money means a never ending gravy train.

        Next time, before you shoot off your mouth, make sure your brains are loaded.

        • Nod

          Who cares what your opinion is. And the truth you try to debunk by debunking a quote, is still the truth. No matter what you babble..

          Too funny when some fools try to debunk quotes with beLIEf, when the quotes agree with the facts of the matter. Doesn’t even matter if your speculative conclusions about Stamps words, be they quoted or paraphrased, were true.

          Because fact just is.

          You work in your mommys basement for quack-watch do you ?

          babble on like your opinion is knowledge dimwit…What Stamp SAID, agrees with public record of fact.

          1- “In the modern economy, most money takes the form of bank
          deposits. But how those bank deposits are created is often
          misunderstood: the principal way is through commercial
          banks making loans. Whenever a bank makes a loan, it
          simultaneously creates a matching deposit in the
          borrower’s bank account, thereby creating new money”
          http://www.bankofengland.co… “

          lol

          .stay off quack watch, it messes up your brain, or lack thereof..

          • Nod

            Here are some more quotes, for the quackwatch kings to opinionate as untrue..

            “Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talks of the sovereignty of Parliament and of democracy is idle and futile… Once a nation parts with the control of its credit, it matters not who makes the laws….Usury once in control will wreck the nation.”
            William Lyon MacKenzie King, former Prime Minister of Canada

            ======================================

            “When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” – Napoleon Bonaparte, 1769-1821

            =================================

            “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

            Thomas Jefferson

            =======================================

            “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” –

            James Madison, 1751-1836

            ===================================

            Funny thing is, they all agree with the fact, and they all agree with common sense. And it doesnt matter if they were spoken word for word, or paraphrased because they agree with fact.

            So what exactly is your point, dimwit ?

            Are you in denial, about how our monetary system is all about money = debt = slavery ?

            Or do you just profit from it?

            “The few who understand the system, will either be so interested from its profits or so dependent on its favors, that there will be no opposition from that class.” . .
            . “Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Bauer Rothschild, 1744-1812

          • S Melanson

            Very good. Much improved explanation as it gives an overview of the mechanism which is correct. The quote about creating deposits was a bit misleading since it is a consequence of debt creation. There is still some important details such as how capital reserve requirements are ineffective as a brake mechanism because they are so low, such that a bank can loan out ten times its reserves – this is known as fractional banking. The other brake mechanism is restricting growth in the money supply, but in practice, as new money was created, monetary policy accommodated the banks need for expansion of the money supply.

            Cheers

          • Nod

            “accommodated” :P

            Is inflation an accommodation?. Or just a clever tax?

            “reserves” are history AND totally irrelevant to anything but an attempt at rationalizing the irrational.

            money = debt = slavery.

            And that isn’t the end of it either.

            The power inherent in money creation and usury is the power to own the planet, as Stamp was quoted as saying. As many others have said.

            And it has manifested as logic and common sense say it would manifest in a world built around inequality. Bought and paid for. Greed and envy baby !

            Bankers own most everything, including the governments who play pretend democracy with the herd.

            Voters, just crack me up. All running to the polls in an oligarch. Voting for those they are told to vote for. Those appointed for their vote.

          • S Melanson

            I am familiar with Gilens and Pages work. Their paper you cite definitely hit a nerve in America. Flak Agents like Bashir went in to action to discredit their findings but with limited success. Americans are waking up to the fact that American democracy is a sham. Will the public being aware translate into changes in actual practice that represent a meaningful shift towards Majoritarian Democracy? Hard to say.

            In case you have not read, I suggest you also take a look at Gilen’s book examining Affluence and Influence (2012).

            Is inflation a clever tax? That is a good question. By the way, I like how you linked my comment of accomadation in expanding the money supply to inflation which is correct since it represents inflationary monetary policy.

            Ok, it is easy to print money when not on the gold standard, as is the case today. While the cost to print money is negligible, the expanded money supply will inflate prices generally, reducing the purchasing power of the currency. If a person has $100 today and inflation is 10% annually, then that person could only buy with that $100 what $90 could buy a year ago. This is equivalent in effect to a 10% tax. What makes it ‘clever’ is that it is indirect such that the public do not make the causal link between the decline in purchasing power with inflationary policy by governments. This allows the government to expand the money supply with scant opposition from an ignorant public.

            There is debate about equating inflation to a hidden tax and there are merits to both sides. I have to go so cannot comment on the debate until later.

            Good post, cheers.

          • Nod

            “causal link between the decline in purchasing power with inflationary policy by governments. ”

            Yes, but this isn’t the link they need to make, is it. The link they need to make, is between a ponzi type monetary system, and gross inequality it creates. In various ways.

            The inflationary policy by governments, attempts to mitigate the affect of the ponzi scheme monetary system, on the economies of the planet.

            Frankly, the capitalist model will always go to end game, in which the big dogs have eaten the little dog. The apologists for capitalism all it “cronyism” or other words such as that to describe end game capitalism. When the power becomes consolidated via inequality. That which must come to pass. Eventually, the big dos win. Banking scheme, just made it happen a lot quicker. .

            As Wallenstein said, “it isn’t about whether or not capitalism will end, it is about what will replace it. ” paraphrased.

            And end game capitalism, can only result in fascism. IMO logic dictates.

            Like now, when money power rules. Discretely yet.

            My understanding, the only reason Americans can stil print money is because their printing press is supported by the petro dollar. That which is the engine, for imperialism and unlimited spending. Who would buy American dollars, if they didn’t need it for the oil.

            Funny how Qaddafi and Hussein both got invaded and murdered after they promulgated an end to selling their oil in American dollars. Funny how we now build a case of hate and acrimony against Russia and China, now they trade oil in something other than the petro dollar.

            End the petro dollar, end the imperialism. Even the bankers cannot change the fact that over printing money in their ponzi scheme, will wreck the economy of that country. Because no one wants, a worthless dollar.

            This is why Hitler, hated the banksters. They wrecked Germany, with debt.

            Geo politics is so simple. Globalism at work.

            Monetary system is so simple. Ponzi scheme at work. Money = debt = slavery.

            End game capitalism? Bought and paid for politics, business, and society. With usury and debt.

            “So no, it’s not a hyperbole to say the Banking System is One. We’re not overstating the case when we say it’s just one massive cartel. That the banks own everything, including all the major industries. Oil, Weapons, Pharmaceuticals, Food, Telecom and IT, etc. It’s all one massive monopoly. Controlled from the top down “

            ’A total of 737 control 80% of it all”

            The Money Power is real and these Swiss gentlemen have done us a favor by crunching the numbers.”

            Please Google “The network of global corporate control”

            This is why, I so much like the Stamp quote. Says it all., succinctly, and truthfully. We remain the slaves to bankers, paying the cost of our own slavery.

          • S Melanson

            The public must recognizes the link between policy and their impoverishment. And you are correct the public need to recognize the purpose of policy which is to enrich a few at their expense in a ponzi scheme. The key thing is that Ponzi schemes cannot be sustained and a day of reckoning eventually comes.

            The risk now is potential for a ‘French revolution’ in America as there are strong parallels that most are unaware of. The one difference between now and two centuries ago is the existence of means to destroy civilization on a global scale. A revolution in America may end very badly for everyone.

            You speak of ‘one’, and I have suspected for some time of a single hand guiding this show on earth to give the impression of opposing factions when all is carefully choreographed. So what is the end game and for what purpose?

            I recommend watching the music video ‘The Stage’ by Avenged Sevenfold’.

          • Nod

            “The key thing is that Ponzi schemes cannot be sustained and a day of reckoning eventually comes.”

            Yes, and this is why, the world governments have been creating the police state . I guess you have noticed this even in Canada after seeing the g20 few years back.

            With militarized police, government spying, removal of rights under the guise of the terrorism that is incipient of our masters.

          • S Melanson

            I personally experienced the G20 lockdown – I live in Toronto. I also have been following the evolving legislation in Canada that mirrors the US. Bill C-51 anti-terrorism act (2015) was enacted by Harper’s Conservatives and runs roughshod over privacy rights and expands powers of agencies with no oversight or clear boundaries. Trudeau’s Liberal Party promised if elected to amend the legislation. Trudeau won a majority mandate and so could easily make good on his promise. So we have Bill C-59 being debated in parliament as I write this comment and the bill is suppose to correct the most egregious aspects of C-51 (2015). Bill C-59 does the opposite, it makes the egregious even more so.

            Why the need for this? Canadians are not known for being troublesome and we are largely law abiding and non-violent – I lived in the US for several years and there is a big difference – note also I like Americans in general but have issues with policies of the US government.

            The nations of the world seem to be preparing for an event or more likely, a series of events that would lead to a breakdown in civil society and this includes Canada. The events could be financial collapse, WWIII, pandemic, geological disasters, meteor impact, alien invasion, massive terrorist attack using WMDs etc…

            Your comment on minimum annual income is currently being debated in Canada. And yes, it is the expectation that AI will continue to advance to the point humans become redundant for the great majority of jobs. In other words, the future is mass unemployment and history has shown what tends to happen when most are unemployed – elites will want to avoid this so minimum income is on the table. It is a start but by itself will fall far short of preventing the civil unrest expected.

            Lastly, I have paid close attention to the transformation of our civil societies such that privacy is increasingly the exception as the process of institutionalization of the surveillance state proceeds. As things stand now, the surveillance state will eventually become so deeply embedded that for the society at large, it will disappear from conscious thought and no longer even questioned – as institutional theorists would say: once embedded in the subconscious, the absence of privacy will not even enter the mind to be questioned, it is just taken for granted as the norm.

            I recognize the rising police state and this is likely a consequence of an expected breakdown in civil society in the near future. But the great lengths taken to collect data and the level of detail seem to me excessive for purposes of control. I suspect there is another purpose that remains hidden. I have my suspicions on what that purpose is which fits what I have observed to date.

            Your thoughts?

          • Nod

            Thoughtful and concise. I agree.

            I too like humans. We just need to do away with inequality.

            “. I have my suspicions on what that purpose is which fits what I have observed to date.”

            please tell.

          • S Melanson

            Have to sign off but will return and will tell. I can say that the suspected purpose will be surprising to most and spur debate.

          • Nod

            Hard to surprise me, I get it…

            “I believe that banking institutions are more dangerous to our liberties than standing armies.” –Thomas Jefferson

            “ The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating.” -Thomas Jefferson

            “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” -James Madison

          • Nod

            “Will the public being aware translate into changes in actual practice that represent a meaningful shift towards Majoritarian Democracy? ”

            “Fluoride’s ability to damage the brain is one of the most active areas of fluoride research today. Over 300 studies have found that fluoride is a neurotoxin (a chemical that can damage the brain). This research includes:

            Over 100 animal studies showing that prolonged exposure to varying levels of fluoride can damage the brain, particularly when coupled with an iodine deficiency, or aluminum excess;
            53 human studies linking moderately high fluoride exposures with reduced intelligence;
            45 animal studies reporting that mice or rats ingesting fluoride have an impaired capacity to learn and/or remember;
            12 studies (7 human, 5 animal) linking fluoride with neurobehavioral deficits (e.g., impaired visual-spatial organization);
            3 human studies linking fluoride exposure with impaired fetal brain development.”

            ==================================

            ““We found that higher levels of fluoride in drinking water provide a useful contribution for predicting prevalence of hypothyroidism. We found that practices located in the West Midlands (a wholly fluoridated area) are nearly twice as likely to report high hypothyroidism prevalence in comparison to Greater Manchester (non-fluoridated area).” (Peckham 2015).”|

            =========================

            Easy call, IMO. Stupid and depressed meek people do not fight fascism. They absorb it into their beLIEf systems.

          • S Melanson

            I am aware of the opposition to fluoridation. Apparently studies, which are immediately attacked and discredited, bring into question fluorides ability to strengthen the enamel and prevent cavities. The other issue is the pineal gland which it has been argued that fluoride shrinks the gland in a detrimental way. The pineal gland is associated with human spirituality.

            Tyranny has risen and fallen throughout history. In the French Revolution, tyranny was overthrown only to be replaced by tyranny. There is a mass of meek and subdued people that will not raise their hand, but there is always a portion of the public that remain defiant and will fight. If a tipping point is reached, the subdued awaken and the floodgates of their anger burst open.

            Will the cycle repeat, or the world drowned in fire? Playing with fire…

          • Nod

            Pineal gland and spirituality? I don’t know about that either way. What I do know, is what science tells me though..

            “Fluoride is likely to cause decreased melatonin production and to have other effects on normal pineal function, which in turn could contribute to a variety of effects in humans.” (National Research Council 2006).

            ==================

            “As a calcifying tissue that is exposed to a high volume of blood flow, the pineal gland is a major target for fluoride accumulation in humans. In fact, the calcified parts of the pineal gland (hydroxyapatite crystals) contain the highest fluoride concentrations in the human body (up to 21,000 ppm F), higher than either bone or teeth. (Luke 1997; 2001). Although the soft tissue of the pineal does not accumulate fluoride to the same extent as the calcified part, it does contain higher levels of fluoride than found than in other types of soft tissue in the body — with concentrations (~300 ppm F) that are known in other contexts to inhibit enzymes. While the impacts of these fluoride concentrations in the pineal are not yet fully understood, studies have found that calcified deposits in the pineal are associated with decreased numbers of functioning pinealocytes and reduced melatonin production (Kunz et al., 1999) as well as impairments in the sleep-wake cycle. (Mahlberg 2009).
            ==============================

            People need Melatonin for sleep, and people need sleep or they get sick. sICK PEOPLE GO TO DOCTORS, AND ARE PRESCRIBED CHEMICALS FOR PROFIT…

            ” There is a mass of meek and subdued people that will not raise their hand,”

            Indeed, and fluoride and its effect on the thyroid gland, IE hypothyroidism insures that they will stay depressed, apathetic, and silent.

          • Nod

            With respect to health effects from drinking the mutagenic, genotoxic, EPA designated neurotoxin? There are many, and either purposely or not, lots of profit to be had, obedience insured, and dummies created simply by drinking the water.

            FLUORIDE & HEALTH
            TABLE of CONTENTS
            Arthritis
            Gastrointestinal Effects
            Bone Fracture
            Hypersensitivity
            Brain Effects
            Kidney Disease
            Cancer
            Male Fertility
            Cardiovascular Disease
            Pineal Gland
            Diabetes
            Skeletal Fluorosis
            Endocrine Disruption
            Thyroid Disease
            Acute Toxicity

            Everything said on this page, is backed by research.

            http://fluoridealert.org/issues/health/

          • S Melanson

            Thank you for the information.

          • Nod

            “Flak Agents like Bashir went in to action to discredit their findings but with limited success..”

            too funny huh.No lack of scumbags willing to prostitute themselves for more. Anyone with half a wit can fined out quite easily the gross state of inequality.

            They can also easily understand how inequality and greed and envy makes EVERYONE easily manipulated with money. Governments, politicians, the average Joe who will screw anyone just to pay the debtor slavery and keep his mortgage ” rentals” up to date. I call them “mortgage rentals” because all one has to do is stop paying taxes to see who really owns that, for which he slaves to pay back the created out of nothing money, with interest.
            Naive children, stuck in “leave it to beaver” land, ignoring what is right in their faces.

            ““Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.”

            John Maynard Keynes

            I rent an apartment. Nor will I ever pay into ponzi debt.

        • Nod

          “the use of fractional banking to create debt that was only 10% collateralized, the other 90% is money out of thin air (plus interest).”

          There is no fractional reserves dimwit. You are clueless.

          • S Melanson

            Where do I say fractional reserves? You are correct, I am clueless about these mysterious fractional reserves. Could you explain to me what are fractional reserves?

          • Nod

            They killed Canada’s reserve requirements in an omnibus bill. Buried in the midst of political bullshit. I have a copy somewhere…

          • S Melanson

            Really! I am interested if you find it. I will look as well. I felt the reserve rules coming out of Basel were already a joke along with ‘stress’ tests that no bank could possibly fail, but it seems even a hint of restraint is too much for them.

          • Nod

            I will look…..at least find it so I can give the the number of the omnibus bill…

            trick to running a successful extortion racket, is to not milk more than the rube can pay….

            Stress test indeed :P

          • S Melanson

            I have looked into it and Canada abolished reserves (cash reserve ratio) in 1992. However, in Canada, banks are required to hold capital reserves according to Basel guidelines. Essentially constraints on reliance on leverage in capital structure. So you are right and I am very surprised i had not come across this before.

            Still, the interpretation of risk weighted and other stress test tools is broad enough that it can be whatever suits the situation. We have too vague to fail. Still, eventually the problems reach a level to threaten the entire system – a result of pushing to far and as one women from China remarked shortly after Enron: Progress in the Western sense is where the next disaster is even bigger then the previous disaster. How right she was.

          • Nod

            Kind of s sleight of hand isn’t it. The ponzi scheme is, no matter the stress test, or the minimal so called regulatory requirements.

            When you extort someone, you only extort as much as they can pay. In modern banking, this is called guidelines?

            “However, in Canada, banks are required to hold capital reserves according to Basel guidelines.”

            where did you get this from ?

  • Rob

    I want to see G7 organization break soon because some of G7 organization members are child butchers, oppressors and thieves for example Trump and NATO.

    • Zionism = EVIL

      G-7 is a irrelevant joke.

  • Zionism = EVIL

    To be honest the G-7 is a joke. Most of the countries on this pathetic outdated farce are tiny bankrupt US occupied vassals. Canada, Italy, UK are hardly worth mentioning. Where are Russia, China, India, Iran, Turkey etc the real rising powers?

    • Wise Gandalf

      Only China is rising.

    • EoF

      Bad Goy countries aren’t invited.

  • goingbrokes

    “Trump is planning to leave the G-7 summit early, departing at 10:30 am on Saturday, and leave Everett Eissenstat… in charge.”

    Lol. Trump has been told by Eissenstat that his presence is no longer required! Eissenstat is not an Israeli-firster is he?

  • Hide Behind

    Macro deals are the forte of G7, note the complete quiet of all non members within UN, who will be most affected, theirs is but a passive roll, whatever G7 decides they will go along with, the real beggar nations.
    Let’s get real, the days of mass
    manufacturing and iendustrial plants are long gone, old economic systems do not exist.
    There is not one item in use today that cannot be “over produced”.
    Jobs for dumb as rock production line workers will be ever fewer In future, agricultural manual laborers fewer, and only
    real growth industry will be in world’s rising militarized police forces and hi tech population control bureaucracies.
    The college grads have no where to go other
    than entertainment and service sector, and in US the leaning down of any new industrial formations will not find them on production floors, they want management and pencil pushing.
    Already the crunch of Internet employment opportunities is squeezing ever smaller into no more than original data in and data out with ever more A I ruling roost.
    Making America great is only for those who do not give a Fly’n pig about morals or anything but what’s in it for them, there will be no relief from permanent wage earner jobs for 60% of population.
    US resources are being tapped out rapidly with an complete disregard for enbironment, and all by the few in US who are internationally connected and slen from public’s lands.
    Wages are high in energy development for dummy unskilled but once established they will no longer be needed.
    There is but a scramble, new colonialism, by G7 and financial backers in dividing up earth for primarily Norther Hemisphere nations.
    It is their top elites who will have it great in America and own nations while the masses are fast headed towards extinction.
    The f heads who Trump Trump are part of problem, it is they who use avarice and yes world wide killing as the highest exams of human endeavors. Those socialistic are no more vibrant an ideology than a neutered pet dog or cat.

  • Sinbad2

    The G7, the Gummy 7, no teeth left so they gum their way through things.
    Meanwhile the young powers have a full set of teeth, and simply aren’t interested in the broth of the old.

  • AlexanderAmproz

    Why is Washington pressuring Jordan?

    by Thierry Meyssan

    Are the Jordanian demonstrations a sign of a new episode of the Arab Spring, or, on the contrary, are they a means of pressuring King Abdallah II to accept the US plan for Palestine ?

    At the beginning of June, Jordan was shaken by a week of peaceful demonstrations against a project for a fiscal law which planned for a rise in taxes of between 5 % and 25 % for all persons with an annual salary of more than 8,000 dinars ($11,245). The demonstrators, whose quality of life had suffered greatly from the consequences of the Western war against Syria, demanded, and obtained, the resignation of the Prime Minister and the withdrawal of the project for law.

    In reality, the Kingdom hardly had a choice – the plan was in conformity with the engagements taken in 2016 during the subscription for a loan from the International Monetary Fund. It had been rejected several times because of the war, and had only been presented when Parliament was closing. Its modification would have supposed a complete change of economic policy, which is not on the agenda. The only solution would be to obtain financial support from Saudi Arabia in order to reimburse the debt.

    Numerous medias have advanced the possibility of a new episode of the « Arab Spring ». This is not likely – in 2011, the demonstrations came to an end by themselves, without recourse to violence. All it needed was for the united front of the early days to collapse, and the Islamists would have broken with the secular groups. This is perfectly logical when we consider the Kingdom’s links with the British and the Muslim Brotherhood.

    Let’s not forget that far from being a spontaneous movement, the « Arab Spring » was an operation by MI6, planned since 2004-2005, in order to put the Muslim Brotherhood in power, on the model of what the British secret services had already organised in 1915 with Lawrence of Arabia (the « Great Arab Revolt ») [1]. Yet Jordan had always controlled the Brotherhood at home – the national Honorary Guide was Prince Hassan, the King’s uncle. Today, the Kingdom continues to enjoy excellent relations with Hamas (which declared itself the « Palestinian branch of the Muslim Brotherhood »). It was for this reason, during the « Arab Spring », that the Brotherhood did not demand the « fall of the régime », as it did everywhere else, but instead called for a government composed of its members.

    After that, Jordan joined the counter-revolutionary camp by becoming an « associate » of the Gulf Cooperation Council, (despite the reticence of Kuwaït, which still reproached Jordan for having supported its invasion by Saddam Hussein’s Iraq in 1990).

    The demonstrations of early June were justified at the local level, but needed specific support in order to be held in a now authoritarian country.

    These demonstrations perhaps constitute pressure brought to bear on Amman before the presentation by the White House of its plan for peace in Palestine. Let’s remember that the Kingdom has always considered itself the kingdom of the Palestinians, and that King Abdallah II is the « protector » of the holy Muslim sites in Jerusalem and the « guardian » of the holy Christian sites in the Holy City (a title which was recognised by Pope Jean-Paul II in 2000). Until the beginning of the application of the Oslo agreements, Jordan assured the administrative management of the West Bank (even though it has been occupied by Israël since the Six-Day War). Yasser Arafat himself had envisaged paying allegiance to the monarchy. At least three quarters of Jordanians are Palestinians. Only the remaining quarter is composed of native Bedouins.

    Currently, all the regional powers are attempting to gain a foothold in Palestine. For example, Turkey is trying to steal the Islamic Jihad from Iran. At the same time, the United States and Israël are trying to pressure each of the protagonists.

    Whatever the plan drawn up by Jared Kushner, the special advisor and son-in-law of President Donald Trump, Jordan will have to play a part. Currently, many documents, some of which have never been published, are being released from the archives. It appears that the creation of the capital of an independent state for the Palestinians in Abous Dis has already been discussed. According to the Partition Plan for Palestine, in 1947, Abous Dis is a neighbourhood of the city of Jerusalem. and during the Oslo Agreements, Yasser Arafat’s second in command, Mahmoud Abbas (his current successor), agreed to the idea of establishing the capital of Palestine there. In fact, at that time, the Palestinian Authority had already begun the construction of the future Parliament in Abous Dis. However, the « peace process » got bogged down – this point was never ratified, and the work was interrupted. To return to our discussion, the Israëlis isolated Abous Dis from the rest of the city with a wall, while the Palestinians, considering that it is only a tiny part of Jerusalem, demanded half of the city. In any case, it is not impossible that Jordan could become the Palestinian state with a double capital, Amman and Abou Dis. In this case, the question of the type of régime will be asked once again – Kingdom or Republic?

    http://www.voltairenet.ORG/article201466.html