America becoming another banana republic – Max Keiser

In this episode of the Keiser Report, Max and Stacy look at the accumulation of debt in the United States in memory of David Graeber, author of ‘Debt: The First 5,000 Years’.

Max also talks to Otavio ‘Tavi’ Costa, portfolio manager at Crescat Capital, about credit exhaustion among other things.

They point out that the US Federal Reserve and other major central banks have a problem of maturing debt that they have to either let expire and experience a contraction or they have to print some more money and keep buying it for themselves to avoid the contraction. That, however, looks like a giant Ponzi scheme.

“So, we know that the decision of these bankers will be to print more and keep monetizing their own debt,” says Max. He adds that quantitative easing is the wrong term because that suggests it’s a temporary measure. “But we know now it’s a permanent measure, it’s debt monetization, which again is something characteristic of a ‘banana republic.’ That is what America used to criticize South American countries for doing.”

According to Max, “Buying back your own debt – that’s the banana republic. And now here’s America and other central banks doing that exact same thing.”

For more stories on economy & finance visit RT’s business section



Source: RT, America becoming another banana republic – Max Keiser

Taxpayer, conservation groups pressure U.S. to halt drilling auctions

September 8, 2020

(Reuters) – U.S. taxpayer and conservation groups on Tuesday will urge the Trump administration to halt plans to sell oil and gas leases on more than 300,000 acres of public lands this month, saying prices are unlikely to be competitive due to the weakened state of the drilling industry.

The U.S. Bureau of Land Management will hold the first of six September lease sales in Nevada on Tuesday with an auction of 11 land parcels covering more than 15,000 acres. It will sell other leases later in the month in Wyoming, Montana, Colorado, Utah and several other states.

The sales come on the heels of a large federal auction in New Mexico https://www.reuters.com/article/us-usa-energy-new-mexico/u-s-oil-and-gas-auction-draws-tepid-bidding-from-weakened-drillers-idUSKBN25N332 last month that attracted far less interest from drillers than other recent sales in the state. The auction marked the resumption of the administration’s oil and gas leasing program following a five-month pause due to the economic impacts of the coronavirus pandemic.

But with the drilling industry still struggling with sharply lower prices and demand, critics say they are expecting similar poor returns from sales this month.

Federal budget watchdog organization Taxpayers for Common Sense and conservation groups Conservatives for Responsible Stewardship and the National Wildlife Federation will hold a press conference on Tuesday to urge Interior Secretary David Bernhardt to cancel the sales.

Leasing public lands to crippled oil and gas drillers makes it “impossible for taxpayers to get competitive prices for the land held in public trust,” the groups said in a statement. They also said drilling on public lands harms wildlife and the outdoor recreation economy.

Oil and gas drilling on public lands is a key part of the Trump administration’s efforts to boost domestic energy production. Later this year, it hopes to hold the first lease sale in California in seven years as well as the first in the Arctic National Wildlife Refuge.

(Reporting by Nichola Groom; Editing by Tom Brown)

Airlines group IAG has regulatory approvals for no-deal Brexit

September 8, 2020

LONDON (Reuters) – Airlines group IAG <ICAG.L> said on Tuesday it had obtained the necessary approvals to continue flying if no free-trade deal is agreed between Britain and the European Union.

“In compliance with the European Union connectivity regulation last year our airlines submitted their plans on ownership and control to the respective national regulators in Spain and Ireland,” Chairman Antonio Vazquez told the group’s AGM in Madrid, which was live streamed.

“We’re delighted to announce that regulators confirmed that these plans in case of a hard Brexit do comply with European Union connectivity regulations.”

(Reporting by Paul Sandle and Laurence Frost, editing by Louise Heavens)

Coronavirus cases are rising again in the UK. What will happen next? | Devi Sridhar

The numbers point to a second wave. To avoid this, ministers need to take hard decisions – and make their reasoning clear

As Spain, France and Germany start to struggle with rising Covid-19 cases, alarm bells are ringing again in the UK. Over the weekend, 3,000 new people tested positive for Covid-19 in a 24-hour period, and dozens of schools in England and Wales have reported outbreaks. While the number of hospitalisations is still low, the trajectory of the US, France and Spain suggest that hospitalisations tend to follow increased case numbers by several weeks. It’s impossible to have a high number of infections and community transmission and not have vulnerable or elderly individuals hospitalised. They live with and among all of us.

Related: All of UK facing ‘big burden’ to prevent second Covid wave, warns minister

Continue reading…

Source: The Guardian Politics, Coronavirus cases are rising again in the UK. What will happen next? | Devi Sridhar

Rescue operation to airlift over 60 trapped people 'unsuccessful…


Rescue operation to airlift over 60 trapped people 'unsuccessful...

(Second column, 5th story, link)


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Source: Drudge Report, Rescue operation to airlift over 60 trapped people ‘unsuccessful…

Religious leader who blamed gay marriage for virus now infected…



Source: Drudge Report, Religious leader who blamed gay marriage for virus now infected…