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February 14, 2025
WSJ: J.D. Vance Threatens Russia

It's always useful to wait a little bit before breaking out the champagne. This mess will not be easy to extricate from.
https://archive.ph/ysvEY

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TG 2158: Spain And EU Make A Mockery Of Europe's Laws

George Szamuely discusses the origins of Spain's immigration crisis and the current migrant invasion at the Spanish exclave of Ceuta.

00:37:26
TG 2157: Trump's Gaza Peace Plan Returns From The Dead

George Szamuely and Peter Lavelle discuss the sudden revival of President Trump's 20-point peace plan for Gaza, wonder what's behind this revival and speculate as to the likelihood of a successful outcome.

01:13:40
TG 2156: Scott Ritter: Zelensky's Epic Fail With Trump

George Szamuely and Peter Lavelle sat down for a conversation with Scott Ritter. Among the topics covered was President Zelensky's attempt to join in the war on Iran and Trump's blunt rejection of the idea, as well as Gilbert Doctorow's recent claims that Russia is losing the war in Ukraine.

00:49:20

US crude exports to Japan just went vertical.

For 3 decades, this line barely moved above 200,000 barrels a day.

It just spiked past 1.1 million.

This is the same pattern we have seen all week.

International buyers cannot rely on Middle East and Russian supply right now, so they are turning to the US Gulf Coast instead.

Japan just became the newest name on that list.
https://x.com/jackprandelli/status/2083365967162175963?s=20

BREAKING: The US Treasury sold euros to buy Japanese yen on Friday, per FT.

The New York Fed executed the sales on the Treasury's behalf, through Goldman Sachs and Morgan Stanley.

Notably, the Fed drew down euro reserves rather than dollars to fund the purchases.

It marks the first time the US and Japan have jointly intervened to buy yen in nearly 30 years, after the currency fell to its weakest against the dollar since 1986.

14 hours ago

BREAKING: Italy to suspend the Schengen Area agreement with Spain following MAJOR migrant invasion

Georgia Meloni says Italy is prepared to stop the migrant invasion using any means necessary

The bond market is out of control.

The US 30Y Note Yield is now up to 5.27%, its highest level since June 2007.

This officially marks a +450 basis point rally since the low seen in 2020.

At the current pace, we are on track to see US 30Y mortgage rates exceed 7.50% by year-end.

And to top it all off, Fed Chair Warsh is now adamant that the market should operate independently, without Fed guidance.

Even without rate hikes or Fed guidance, the market is sending rates higher; operating exactly how Fed Chair Warsh wants it to operate.

The bond market will soon be the most talked about component of global capital markets.

This simply is not sustainable.

The reason people are invading Ceuta, Spain right now is because that removes Spanish control from both sides of the Strait of Gibraltar.

So you're ...

January 21, 2023
More Leftie Than Thou
"Jacobin" Magazine Celebrates A Strike Against Ol' Blue Eyes

Here at "The Gaggle" we have very little time for the "more Leftie than thou" school of thought--that's the approach to life according to which the only thing that matters is whether you take the right position on every issue under the sun from Abortion to Zelensky. No one in the world meets the exacting standards of this school of thought; any Leftie leader anywhere is always selling out to the bankers and the capitalists. The perfect exemplar of this is the unreadable Jacobin magazine. 

The other day I came across this article from 2021. It's a celebration of trade union power. And not simply trade union power, but the use of trade union power to secure political goals. Of course (and this is always the case with the "more Leftie than thou" crowd), this glorious, never-to-be-forgotten moment on the history of organized labor took place many years ago--in the summer of 1974 to be exact. Yes, almost half a century has gone by since that thrilling moment when the working-class movement of Australia mobilized and prepared to seize the means of production, distribution and exchange. 

Well, not quite. Organized labor went into action against...Ol' Blue Eyes, the Chairman of the Board, the Voice; yes, Frank Sinatra. Why? What had Sinatra done? Sinatra was certainly very rich, and he owned a variety of properties and businesses. But if the Australian trade union movement were, understandably, searching for the bright, incandescent spark that would finally awaken the working class from its slumber there were surely richer, greedier, more dishonest, more decadent, above all more Australian individuals it could have discovered. Australia was never short of them. Rupert Murdoch immediately springs to mind. Why Sinatra?

 

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