Turkey: ‘We’re ready to increase food exports to Russia’

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As Moscow banned food imports from the West, Turkey voiced its readiness to increase its exports of agricultural products to Russia, Turkish economy minister has said.

“Turkey is a major supplier of food and agricultural produce to Russia. It is ready to increase its food exports to Russia if necessary,” Turkish Economy Minister Nihat Zeybekci said in an interview with Itar-Tass.

The two countries have recently reached an agreement to increase the number of Turkish food suppliers to Russia. A delegation from Russia’s agricultural watchdog, Rosselkhoznadzor (the Federal Service for Veterinary and Phyto-Sanitary Control), visited Ankara for negotiations in the search for alternative food supply sources following the sanctions imposed on Russia by the EU, Russia’s top food supplier, the US, the EU, Australia and Canada.

To reciprocate, on August 6 Russia introduced a full ban for imports of beef and pork (fresh, chilled, refrigerated, pickled, dried or smoked meat), poultry and any poultry edible products, fish, cheese, milk, dairy products, vegetables, including root vegetables and tuber crops, and fruit from Australia, Canada, the EU, the US and Norway.

Moscow is now set to ensure country’s food supply security by finding new suppliers in countries that have not joined the sanctions against Russia. Some of the country’s closest neighbors, China and Turkey, have been among the first candidates for a lucrative offer to extend their share of the Russia market.

Reuters / Alessandro GarofaloReuters / Alessandro Garofalo

Turkish food suppliers would do their best to ensure sufficient good quality, inexpensive food products to Russia to replace European food supplies, the Turkish minister said.

Last year, Turkey’s agricultural export to Russia reached $1.18 billion, with fruits and vegetables making up nearly 75 percent ($877 million) of the total turnover. In 2014, Turkish agricultural exports to Russia have so far totaled $409 million.

Zeybekci said that Turkey exported $17 billion worth of agricultural products in 2013, of which fresh fruit and vegetables accounted for less than 14 percent ($2.3 billion). Russia bought 6.9 percent of Turkey’s global exports of agricultural products.

Reuters / Umit BektasReuters / Umit Bektas

The head of the Russian agricultural watchdog Rosselkhoznadzor, Sergey Dankvert, announced on Thursday that his agency has held talks with 16 countries as alternative supply sources for the Russian food market. Moscow has been talking to Argentina, Belarus, Brazil, Chile, China, Colombia, Ecuador, Kyrgyzstan, Mauritius, Mexico, Mozambique, Paraguay, Peru, Sri Lanka, Turkey and Uruguay to replace American, Australian, Canadian and European food suppliers.

The EU Council has already demanded that third countries not to take advantage of the new trade opportunities brought by the conflict between Russia and western states, and to resist seeking to replace European food on the Russian market, in what it is claiming is a move to promote international unity and compliance with international law.

The European Commission is now assessing the losses from Russia’s countersanctions in anticipation of a special meeting of 28 EU agriculture ministers to be held in September to discuss possible countermeasures.

Moscow has been warning Western countries for months that sanctions are counterproductive, and has said it will first and foremost strike back against countries imposing them.

According to Russian customs data, Western imports now affected by sanctions totaled $9.1 billion in 2013. The EU, with its $6.5 billion worth of now-sanctioned products, would suffer the most, with non-EU member Norway following, with $1.2 billion worth of mostly fish products. The other countries that joined the sanctions would lose less, as the US has a $843.8 million food trade turnover with Russia. Canada’s bilateral trade is $373.6 million and Australian agricultural exports to Russia were estimated at $182 million.

John Lewis Calls On Obama To Declare Martial Law In Ferguson, Mo. [VIDEO]

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Rachel Stoltzfoos
Reporter

Georgia Rep. John Lewis has called on President Obama to declare martial law in Ferguson, Mo.

The congressman made the public call Thursday afternoon as protesters continue to clash with police in Ferguson after a cop shot and killed unarmed black teen Michael Brown Saturday night. (RELATED: Is This America? Stunning Photos From Violent Protests In Ferguson, Mo.)

“People have a right to protest,” Lewis said on MSNBC. “They have a right to dissent. They have a right to march in an orderly, peaceful, non-violent fashion. And the press has a right to cover it. Ferguson, Mo. is not the Congo. It is not China. It is not Russia. We can do better.”

“President Obama should use the authority of his office to declare martial law,” he continued. “Federalize the Missouri National Guard to protect people as they protest.”

Read more: http://dailycaller.com/2014/08/14/john-lewis-calls-on-obama-to-declare-martial-law-in-ferguson-missouri/#ixzz3APEPb27D

Sanctions bite-back: Bickering, EU infighting over Russia retaliation

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There is growing dissent in the EU over policies that led to a de fact trade war with Russia. Meanwhile the countries not toeing the line are reaping the benefits, irritating those who jumped on the sanctions bandwagon.

China to start direct sales of fruit and vegetables to Russia

Poland asks US to buy apples banned by Russia

Greek members of the European Parliament demanded Sunday that the EU cancel sanctions against Russia. MEPs Kostantinos Papadakis and Sotiris Zarianopoulos said in a letter to some senior EU officials that Russia’s ban on food import from the EU, which was Moscow’s response to anti-Russian sanctions, was ruinous to Greek agriculture.

“Thousands of small- and middle-sized Greek farms producing fruit and vegetables and selling them primarily to the Russian market have been hit hard now as their unsold products are now rotting at warehouses,” the letter said.

The MEPs are representing the Communist Party of Greece and blame the EU leaders and their own government for supporting what they called “an imperialist intervention by the US, the EU and NATO” in Ukraine at the expense of good relations with Russia.

Greece is one of the EU members hit hardest by the Russian import ban, partially due to its economy still being in turmoil. Greek farmers stand to lose an estimated 200 million euro in direct damages due to Russia’s move, with more long-term consequences expected even if year-long ban is not renewed on expiry. The producers may find it very hard to win back the market share they had before the ban as non-affected countries would certainly weight in.

Head of Austrian Freedom Party (FPOe) Heinz-Christian Strache (Reuters/Heinz-Peter Bader)Head of Austrian Freedom Party (FPOe) Heinz-Christian Strache (Reuters/Heinz-Peter Bader)

Similar sentiments came Sunday from Heinz-Christian Strache, Chairman of the right-wing Freedom Party of Austria, which has 20 percent of seats in the lower chamber of the national parliament and showed similarly strong results in this year’s European parliamentary election.

“In just a few days after the [Russian] sanctions came into force they hurt out agriculture. The EU is thinking on how to mitigate it. Instead of putting Russia on its knees, they drag our farmers to ruin with their senseless sanctions policy,” Strache said ac sited by Austria Presse Agentur.

He also lashed out at Kiev for considering a ban on the transit of Russian gas into Europe to hurt Russia, calling such statements “an affront to their own allies” and “a mockery of the EU,” which will have to save Ukraine from bankruptcy.

He called on the Austrian government to clearly state their policy on the situation.

Who is hit hardest by Russia’s trade ban?

Gregor Gysi, a German parliament member from the Left Party, criticized on Sunday the government of Chancellor Angela Merkel for supporting the sanctions policy, which he called “childish.”

“[US President Barack] Obama talks about economic sanctions all the time, but the response hits us, not the US,” the politician said in an interview with ARD television.

“If we isolate Russia, we will have no influence,” he added. “We must learn to talk to each other again.”

Estonian President Toomas Hendrik Ilves (AFP Photo/Ragio Pajula)Estonian President Toomas Hendrik Ilves (AFP Photo/Ragio Pajula)

The irritation with the damage caused by the sanctions confrontation in Europe comes amid anger towards those who chose not to confront Russia and so were not hit back. Estonian President Toomas Hendrik Ilves lashed out at Switzerland for taking a neutral stance in the conflict, which allows its bankers and traders to profit in the Russian market.

“Switzerland must live with the criticism that it has only dispensed with its own sanctions to gain an advantage for its banking sector,” the Estonian leader said in an interview with Sonntags Zeitung newspaper published on Sunday.

Switzerland, not being an EU member, is not obliged to enforce all anti-Russian sanctions imposed by the union. It took measures last week to ensure that it does not serve as a route to bypass EU’s sanctions, but declined to impose its own.

Bern cited a need to remain neutral, especially since it is now chairing the Organization for Cooperation and Security in Europe, a key mediator in the Ukrainian crisis.

“The concept of neutrality is for me as empty today as ever before,” said Ilves.

The US and its allies have been imposing increasingly tough sanctions against Russia as punishment for its stance in the Ukrainian crisis. They accuse Russia of supporting the armed militia in eastern Ukraine, which is fighting against the Kiev-loyal troops. Moscow accuses the Western countries of hypocrisy, saying they are turning a blind eye to any crimes committed by the Ukrainian regime, which they helped to take over power in the first place.

Russia, China agree more trade currency swaps to bypass dollar

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The Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments.

“The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties,” and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator’s office on Thursday.

The Russian Central Bank is not giving precise details on the size of the currency swaps, nor when it will be launched. It says this will depend on demand.

According to the bank, the agreement will serve as an additional instrument for ensuring international financial stability. Also, it will offer the possibility to obtain liquidity in critical situations.

“The agreement will stimulate further development of direct trade in yuan and rubles on the domestic foreign exchange markets of Russia and China,” the Russian regulator said.

Currently, over 75 percent of payments in Russia-China trade settlements are made in US dollars, according to Rossiyskaya Gazeta newspaper.

READ MORE: Russian companies ‘de-dollarize’ and switch to yuan, other Asian currencies

In early July, the Central Bank’s chairwoman Elvira Nabiullina said Moscow and Beijing were close to reaching an agreement on conducting swap operations in national currencies to boost trade. The deal was later discussed during her trip to China.

President Vladimir Putin, during his visit to Shanghai in May, said cooperation between Russian and Chinese banks was growing, and the two sides were set to continue developing the financial infrastructure.

“Work is underway to increase the amount of mutual payments in national currencies, and we intend to consider new financial instruments,” Putin said after talks with President Xi Jinping.

Later on, during his meeting with leading international news agencies on the sidelines of the St Petersburg’s economic forum, Putin said that Russia and China had made “the first modest steps” in using national currencies in international settlements. He added that the two countries were going to continue exploring opportunities for working together.

A currency swap is widely used and allows simultaneously exchanging a specific amount of one currency for another currency with two different settlement dates.

WHEN THE MONEY RUNS OUT… SO DOES THE EMPIRE

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Empires are typically financed by theft and forced tribute

by BILL BONNER | INFOWARS.COM | AUGUST 7, 2014

The Dow stabilized yesterday. Gold rose $22.

In 2006, we wrote a book with Addison Wiggin called Empire of Debt: The Rise of an Epic Financial Crisis. The idea of the book was as follows:

Empires are not the result of conscious thought; they happen when a group is large enough and powerful enough to impose itself on others.

But empires are expensive. They are typically financed by theft and forced tribute. The imperial power conquers… steals… and then requires that its subjects pay “taxes” so that it can protect them.

The US never got the hang of it. It conquers. But it loses money on each conquest.

How does it sustain itself?

With debt.

It doesn’t take tribute from the rest of the world; it borrows from it. As far as we know, no other empire has ever tried to finance itself by borrowing.

But it is a special kind of debt. The US borrows in its own currency – which it can print as it chooses. If the burden of repayment is too high, in theory, the Fed can just print more dollars to satisfy its obligations.

Here is further insight from two foreign policy professors Flynt Leverett and Hillary Mann Leverett:

Since World War II, America’s geopolitical supremacy has rested not only on military might, but also on the dollar’s standing as the world’s leading transactional and reserve currency. Economically, dollar primacy extracts “seignorage” – the difference between the cost of printing money and its value – from other countries, and minimizes US firms’ exchange rate risk.

Its real importance, though, is strategic: Dollar primacy lets America cover its chronic current account and fiscal deficits by issuing more of its own currency – precisely how Washington has funded its hard power projection for over half a century.
In the 1950s and 1960s, this posed little risk to foreigners, because the US dollar was backed by gold. But in 1971 – on August 15 – President Nixon repudiated the greenback’s gold backing.

Nevertheless, the dollar reigned supreme. Foreign nations needed to stock dollars in order to settle up on their overseas financial transactions. The US printed dollars… Americans spent them on foreign goods… foreign central banks bought them from their local merchants and manufacturers, and reinvested much of them in US government debt.

The dollars went out… in exchange for valuable goods and services… and then they came back in exchange for – more pieces of paper!

Year after year, the US ran a trade deficit. Year after year, US paper dollars and Treasury debt stacked up in foreign banks. We haven’t done a recent calculation. But the last time we looked, net cumulative deficits were approaching the $10 trillion mark.

When foreign central banks took in dollars, they had to print local currencies to give to local exporters in exchange for dollars.

The owner of an export firm presented the dollars to the local bank; he needed yuan, yen or zlotys to pay his bills. The local central bank invested those dollars back in the US.

This is how the US credit boom led to an explosion of cash and credit all over the world. Foreign central banks had to increase their money supplies – by printing up local currencies – to use to exchange for the rush of dollars.

This is what led Ben Bernanke to refer to a “global savings glut.” Actually, these were not savings at all – but money created ex nihilo by central banks.

Our point is that all empires end when they are defeated by a more vigorous empire… or when their financing runs out.

And now we are seeing the beginning of the end. From the Leveretts:

America is increasingly viewed as a hegemon in relative decline, China is seen as the preeminent rising power. Even for Gulf Arab states long reliant on Washington as their ultimate security guarantor, this makes closer ties to Beijing an imperative strategic hedge. For Russia, deteriorating relations with the United States impel deeper cooperation with China, against what both Moscow and Beijing consider a declining, yet still dangerously flailing and over-reactive, America.
Economist Liam Halligan, writing in British newspaper The Telegraph elaborates:

Beijing has struck numerous agreements with Brazil and India that bypass the dollar. China and Russia have also set up ruble-yuan swaps pushing America’s currency out of the picture. But if Beijing and Moscow – the world’s largest energy importer and producer respectively – drop dollar energy pricing, America’s reserve currency status could unravel. That would undermine the US Treasury market and seriously complicate Washington’s ability to finance its vast and still fast-growing $17,500 billion of dollar-denominated debt.
When the money runs out… so does the empire. Perhaps with a whimper. Or maybe a bang.

Copies of Bill’s new book, Hormegeddon, are selling fast. So, if you haven’t already got your copy, you can claim it now here. Bill’s colleague Porter Stansberry says Hormegeddon explains an idea that completely changed the course of his life.

Key Homeland Security contractor hacked, govt employee data likely stolen

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One of the Department of Homeland Security’s key contractors says a “state-sponsored” cyber attack is responsible for stealing the personal information of numerous government employees.

In the wake of the attack, the Department of Homeland Security (DHS) has put its work with the contractor on hold while the FBI investigates the situation.

According to the Washington Post, the company in question is called USIS, and is responsible for performing background checks on potential DHS employees, as well as those who need to acquire the necessary security clearances. Notably, it conducted background checks for former National Security Agency contractor Edward Snowden, as well as Aaron Alexis, the man responsible for the 2013 Navy Yard shooting in Washington DC.

So far, it is unknown exactly how much information was stolen or how many people were affected, but officials told the newspaper that they don’t think anyone outside of DHS had their records taken. At least one other department isn’t taking any chances, though. The Office of Personnel Management (OPM) has also stopped working with USIS for the time being.

“Our forensic analysis has concluded that some DHS personnel may have been affected, and DHS has notified its entire workforce” of the incident, Homeland Security spokesman Peter Boogaard said to the Post. “We are committed to ensuring our employees’ privacy and are taking steps to protect it.”

For its part, the company said it notified all the agencies it works with of the security breach as soon as it was discovered, and it is cooperating with OPM and DHS to address the situation.

Although USIS said the hack “has all the markings of a state-sponsored attack,” it did not offer any details on where the breach originated. Some officials told the Post that it was not linked to a similar incident that occurred in March, which was eventually connected to China. In that case, the OPM’s databases were targeted, but no personal data was stolen thanks to encryption. US officials have blamed multiple attacks on Beijing in the past.

House of Representatives Rep. Elijah Cummings (D-Md.) said he would ask the House Oversight and Government Reform Committee to launch an investigation into the incident, while Sen. Jon Tester (D-Mont.) called it “very troubling news.”

“Americans’ personal information should always be secure, particularly when our national security is involved. An incident like this is simply unacceptable,” he added.

News of the security breach comes just one day after Wisconsin-based Hold Security announced that 1.2 billion usernames and passwords were stolen by a crime ring operating out of Russia. The haul, which also included more than 500 million email addresses, was taken from roughly 42,000 different websites across the internet, marking the largest security breach the company had ever seen.

“Hackers did not just target US companies, they targeted any website they could get, ranging from Fortune 500 companies to very small websites,” Hold Security founder Alex Holden told The New York Times. “And most of these sites are still vulnerable.”

Russia Sanctions Accelerate Risk to Dollar Dominance

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By Rachel Evans Aug 6, 2014 10:51 AM CT – Comments Email Print

Aug. 6 (Bloomberg) –- Bloomberg’s Ryan Chilcote reports on Russian President Vladimir Putin prepping a retaliation against U.S. and E.U. Sanctions. He speaks to Jonathan Ferro on Bloomberg’s Television’s “On The Move.” (Source: Bloomberg)
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AUDIO: Faber Says Avoid U.S. Stocks, Invests in Dollar
U.S. and European Union sanctions against Russia threaten to hasten a move away from the dollar that’s been stirring since the global financial crisis.

One place the shift has become evident is Hong Kong, where dollar selling has led the central bank to buy more than $9.5 billion since July 1 to prevent its currency from rallying as the sanctions stoked speculation of an influx of Russian cash. OAO MegaFon, Russia’s second-largest wireless operator, shifted some cash holdings into the city’s dollar. Trading of the Chinese yuan versus the Russian ruble rose to the highest on July 31 since the end of 2010, according to the Moscow Exchange.

While no one’s suggesting the dollar will lose its status as the main currency of business any time soon, its dominance is ebbing. The greenback’s share of global reserves has already shrunk to under 61 percent from more than 72 percent in 2001. The drumbeat has only gotten louder since the financial crisis in 2008, an event that began in the U.S. when subprime-mortgage loans soured, and the largest emerging-market nations including Russia have vowed to conduct more business in their currencies.

“The crisis created a rethink of the dollar-denominated world that we live in,” said Joseph Quinlan, chief market strategist at Bank of America Corp.’s U.S. Trust, which oversees about $380 billion. “This nasty turn between Russia and the West related to sanctions, that can be an accelerator toward a more multicurrency world.”

Such a transformation may take as long as 25 years, with the dollar remaining “top of the heap” even as other currencies play a greater role, Quinlan said, speaking by phone on Aug. 4 from New York.

Weapons Embargo

The U.S. and EU announced further restrictions on trade with Russia over its support of insurgents in Ukraine on July 29. The additional sanctions limit state-owned banks’ access to European and U.S. capital markets. Europe also imposed an embargo on weapons sales while the U.S. added a shipbuilder to a list of blocked defense-technology entities.

MegaFon, a Moscow-based company that hasn’t been targeted by the sanctions, is moving funds into the Hong Kong dollar, Chief Financial Officer Gevork Vermishyan said in a phone interview last week. Billionaire Alisher Usmanov’s wireless operator has traditionally kept its foreign cash in U.S. dollars and euros, according to the company.

Wealth Exits

OAO GMK Norilsk Nickel, the world’s largest producer of nickel and palladium, is also keeping some of its cash in the Asian currency, two people with knowledge of the situation said last week, asking not to be identified because the information isn’t public.

The nickel producer keeps its free cash-flow in a variety of currencies and instruments, spokesman Petr Likholitov said last week, declining to elaborate or comment on the use of Hong Kong dollars.

In addition, rich Russians are looking to move funds to banks in Hong Kong, Singapore and Dubai, Danilo Lacmanovic, chief executive officer of Moscow-based Third Rome LLC, which manages $400 million on behalf of high net-worth individuals, said in a phone interview yesterday.

Dollar Trials

Since the U.S. currency replaced gold as the bedrock of the financial system after World War II, the greenback has weathered numerous crises. It emerged from the collapse of the Bretton Woods system in 1971, endured the introduction of the euro almost three decades later and maintained its status as a haven currency even when the 2008 collapse spread from Wall Street to economies around the world.

The Federal Reserve’s unprecedented monetary stimulus to stem that crisis channeled cash into the economy through debt purchases, leading nations including Brazil and Germany to claim the U.S. was debasing its currency.

The crunch increased interest in tenders divorced from a single nation’s strength, spurring the International Monetary Fund to boost almost 10-fold the allocation of special drawing rights, a reserve asset whose value is based on a basket of currencies, and fueling demand for so-called virtual currencies, such as bitcoin.

A $9 billion fine imposed on BNP Paribas SA, France’s largest bank, by U.S. regulators in June has also made some institutions wary of the penalties dealing in dollars can bring, according to Steven Englander, the head of Group of 10 currency strategy at Citigroup Inc. in New York.

BNP was banned from clearing certain dollar-denominated commodity trades for a year after the lender admitted to violating U.S. restrictions on doing business with Iran, Sudan and Cuba.

Geopolitical ‘Baggage’

“You used to think that you had to worry about the Fed and about the supply of dollars and the monetary policy reaction function, and now you have to worry about potentially sanctions and other kind of regulatory liabilities, so it’s baggage,” said Englander, speaking by phone on Aug. 4. “If you see yourself on the receiving end in some geopolitical dispute with the U.S., holding liquid dollar assets is risky.”

The risk may be something institutions stomach in the near term. About 38.8 percent of global payments by value were denominated in the U.S. currency in January 2014, up from 29.7 percent in January 2012, according to data compiled by the Society for Worldwide Interbank Financial Telecommunication, or Swift. Use of the euro slipped from 44 percent to 33.5 percent of transactions over the same period.

Dollar World

The dollar’s share of foreign-exchange transactions has also increased. Buying or selling the greenback against another currency accounted for 87 percent of all trades in April 2013, about two percentage points more than in 2010, according to a September report from the Bank for International Settlements.

Dollar pairs comprised about $705 billion of the $811 billion average daily volume seen by North American financial institutions this April, the Fed-sponsored Foreign Exchange Committee said last week.

“You can’t escape the stratosphere,” Sebastien Galy, a senior currency strategist at Societe Generale SA in New York, said Aug. 1. It’s “a broad dollar world which is dominating everything and the consequences are suffered when there’s mismanagement of the system. But it’s one that has no good alternative at this point in time.”

The U.S. currency climbed against all 16 major peers last month as fighting in Ukraine and the downing of a Malaysian jet over the country enhanced the appeal of haven assets. It extended gains today as NATO warned of a Russian incursion in Ukraine under the “pretext” of a humanitarian mission, pushing its advance to 2.5 percent against the euro since the start of last month. It traded at $1.3354 as of 11:50 a.m. in New York.

Citigroup forecasts a rally to $1.33 per euro by the end of the year, compared with a median forecast in a Bloomberg strategist survey of $1.32. SocGen predicts an advance to $1.32.

China Challenge

China is making a push for greater use of its currency in international trade. The People’s Bank of China extended a yuan swap line to Switzerland in July after agreeing a facility with the European Central Bank last year. The nation also agreed to allow companies to clear yuan-denominated transactions in London and Frankfurt for the first time.

The Hong Kong Monetary Authority bought U.S. dollars in the foreign-exchange market this week to curb gains in the local dollar, which is pegged to the greenback, after purchasing $8.4 billion in July, the most since at least October 2012.

Sanctions show the potential for an increasing reliance on economic measures — such as restricting the use of a currency – – as “an alternative to military” action, according to Marc Chandler, the chief currency strategist at Brown Brothers Harriman & Co. in New York.

“This represents a big step in the evolution of U.S. foreign policy toward Russia,” he said by phone on Aug. 4. “The real challenge is converting that financial power into political influence.”

Creepy: Daily Beast Wants Corporations to Sign ‘Loyalty Oaths’ to Obama’s ‘Economic Patriotism’

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August 5, 2014 By Greg Campbell

The left’s infatuation with the anointed, made-for-primetime president, Barack Obama, has largely fizzled-out. Though there remains mindless stalwarts and Obamamaniacs, the world has largely recovered from the Obamamania of 2008 and 2009 that saw countless liberal zombies decked-out in “Hope” tee-shirts and adorning their walls with pictures of the left’s messiah.

Still, however, there remains remnants of these sheep who see Barack Obama as a symbol of hope and change and not as the failed president he has become.

The Daily Beast’s Jonathon Alter is precisely the kind of useful idiot upon which the Obama regime counts to spread their carefully-crafted message.

While many companies are fleeing the U.S.’s punitive-oriented taxation system that is predicated upon penalizing the rich, most would seek to solve this problem by applying Occam’s Razor: they would conclude that if the “eat the rich” mantra of the left is creating corporate refugees, the simplest solution would be to address the crushing taxation.

Instead, the left has begun a campaign to try and shame corporations who defect. Alter even goes so far as to claim that corporations should have to sign loyalty oaths which pledge allegiance to Obama’s “economic patriotism.”

The Daily Beast reports:
On top of all the wars and global messiness, 2014 will be remembered for the plague of “corporate inversion,” which the news media should start routinely calling “corporate desertion.” So far, 47 American-based companies have renounced U.S. citizenship and bought foreign subsidiaries in order to dodge American taxes. Many more are preparing to flee…

Because oaths and pledges are a little creepy, this effort needs something else—something that comes out of the legal and business worlds: a contract. More specifically, an NDA.

Non-disclosure agreements are common in corporate America, where tens of thousands of senior managers and employees sign contracts promising to keep all sorts of information confidential. It’s often a condition of employment.

Now it’s time to change the “D” and expect the same from boards of directors—a “non-desertion agreement” with the John Hancock of every board member and CEO in the United States.

If boards thought for even a second about the long-term interests of their companies, they would summon their lawyers and sign. It’s protection against the risks of resurgent nationalism that could strip them of the many advantages (indirect government subsidies, easy access to American markets) that they currently enjoy.

Companies that fail to sign non-desertion agreements would face the kind of public shaming that has gone out of fashion but could come back with a vengeance: boycotts, petitions, angry shareholder meetings full of the language of patriotism.
Now, to be clear, I am as patriotic as they come. I love buying products made in America and I firmly believe that this is the greatest nation on Earth. However, can we really blame companies that flee the hostile environment created by the most undeniably anti-commerce administration in American history?

At a time when China is on the upswing because of pro-capitalist changes and at a time when even Cuba is starting to loosen their control on government-run commerce, our nation is stagnating as government vultures are seeing the consequences of decades of robbing Peter to pay Paul.

I’ll tell you the story ends: if you rob Peter to pay Paul, eventually Peter has enough and leaves.

DOZENS FROM EBOLA-STRUCK COUNTRIES CAUGHT SNEAKING INTO USA

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by BRANDON DARBY 3 Aug 2014 B The “OFO Inadmissible” designation to any individual from a nation other than Mexico or Canada means that U.S. authorities took the individuals into custody. Whether they were deported or given a Notice to Appear is unknown. It is important to note these numbers do not include data from U.S. Immigration and Customs Enforcement (ICE). The unavailable ICE data are in addition to these numbers.
The report reveals the apprehension numbers ranging from 2010 through July 2014. It shows that most of the human smuggling from Syria and Albania into the U.S. comes through Central America. The report also indicates the routes individuals from North Africa and the Middle East take into the European Union, either to illegally migrate there or as a possible stop in their journey to the United States. The data are broken down further into the specific U.S. border sectors where the apprehensions and contact occurred.
Among the significant revelations are that individuals from nations currently suffering from the world’s largest Ebola outbreak have been caught attempting to sneak across the porous U.S. border into the interior of the United States. At least 71 individuals from the three nations affected by the current Ebola outbreak have either turned themselves in or been caught attempting to illegally enter the U.S. by U.S. authorities between January 2014 and July 2014.
As of July 20, 2014, 1,443 individuals from China were caught sneaking across the porous U.S. border this year alone, with another 1,803 individuals either turning themselves in to U.S. authorities at official ports of entry, or being caught attempting to illegally enter at the ports of entry. This comes amid a massive crackdown by Chinese authorities of Islamic terrorists in the Communist nation.
Twenty-eight individuals from Pakistan were caught attempting to sneak into the U.S. this year alone, with another 211 individuals either turning themselves in or being caught at official ports of entry.
Thirteen Egyptians were caught trying to sneak into the U.S. this year alone, with another 168 either turning themselves in or being caught at official ports of entry.
Four individuals from Yemen were caught attempting to sneak into the U.S. by Border Patrol agents in 2014 alone, with another 34 individuals either turning themselves in or being caught attempting to sneak through official ports of entry. Yemen is not the only nation with individuals who pose terror risks to the U.S. that the report indicates travel from. The failed nation of Somalia, known as a hotbed of Islamic terror activity, was also referenced in the report. Four individuals from Somalia were caught trying to sneak into the U.S. by Border Patrol agents in 2014. Another 290 either turned themselves in or were caught attempting to sneak in at official ports of entry. This reporter previously covered the issue of illegal immigration into the U.S. from Somalia and other nations in the Horn of Africa.