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I'm currently in Dubai and the banks are getting weird.

Citi and Standard Chartered literally evacuated their offices this week. Told staff go home, work remote.

HSBC closed their Qatar branches. Hedge funds are in "contingency mode." That's a polite way of saying they're bricking it.

Analysts are saying customers could pull out $307 BILLION if this goes on another month.

$307 billion. Let that number sit for a second.

Bank withdrawals are "elevated" — that's the official word.

A guy I know who works at Emirates NBD told me they've had more wire transfer requests in the last two weeks than in all of Q4 last year.

Iranian accounts? Those are getting flagged and frozen quietly. No announcement.

The UAE central bank just launched their biggest support package since COVID. That's not a good sign — that's a panic button.

People are moving money to Singapore, Switzerland, anywhere that isn't in Iran's flight path.

The dirham is pegged to the dollar so it looks stable. But that peg costs money to defend, and everyone's watching it. https://x.com/BinsaeedRashid/status/2034622144252899400?s=20

BOMBSHELL: Netanyahu accidentally reveals the REAL reason for the war. It has nothing to do with nukes. He admits the plan is to build oil pipelines through the Middle East straight to Israeli ports, completely bypassing Arab-controlled straits. It is all about money and control. https://x.com/FurkanGozukara/status/2034717926113083889?s=20

BREAKING: An oil tanker operator paid Iran a $2 million fee for safe passage through the Strait of Hormuz on Wednesday, per FT.

Iran is now charging "favored" countries millions per oil tanker for safe passage through Hormuz.

BREAKING: Scott Bessent says the Trump administration is considering unsanctioning Iranian oil that's on the water

Oleg Deripaska: Oligarch Says Listen To Bankers
https://news.sky.com/story/oleg-deripaska-oligarch-says-listen-to-bankers-10457198
"The Russian billionaire is known in the UK for his friendship with Nathaniel Rothschild which led to the political row billed as 'Yachtgate'."

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Very 0wn
@Very_0wn
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2 feb. 2024
Răspuns către @Very_0wn
https://archive.ph/zzwah
"Brooklyn-educated Berel Lazar was sent to Moscow by the Lubavitcher Rebbe." https://x.com/Very_0wn/status/2034754678865764623?s=20

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TG 2089: A Contrast In Integrity: Joe Kent Quits, Tulsi Gabbard Stays On

George Szamuely and Peter Lavelle discuss the contrast between the principled resignation in protest from the Trump administration of Joe Kent and the careerist, opportunist determination to stay on of his former boss, ODNI head Tulsi Gabbard.

01:16:17
Live Chat
Monday Night At The Movies: "Salvador" (1986)

Join Gagglers for "Salvador"!
The screening starts at 4 p.m. ET sharp.
Share all of your thoughts, comments and criticisms on the Live Chat.

See you at 4 p.m. ET

02:02:35
TG 2088: U.S.-Israel War On Iran Day 16: Asymmetric War Gets Evermore Asymmetric

George Szamuely and Peter Lavelle discuss Day 16 of the U.S.-Israel War On Iran, and conclude that, while the United States has gone through plans A, B and C, Iran has so far stuck to its strategy of inflicting as much pain as possible on its adversaries.

01:20:22
Monday Night At The Movies

Please choose which one of the following 8 movies you would like to have screened next Monday, March 23.

The theme is "Diplomats, Negotiators and Emissaries."

Please continue to vote after March 23, so that we can determine the runner-up. The runner-up will be screened on March 30.

42 minutes ago

Criticism rained down on Viktor Orbán at Thursday’s summit of EU leaders, where he dug in on his opposition to the €90 billion loan for Ukraine. He seemed to love every minute of it.

"I have never heard such harsh criticism before," said Sweden’s Ulf Kristersson as he left the meeting. Orbán has said he won’t lift his veto until Russian oil deliveries resume through the Druzhba pipeline, which passes through Ukraine to Hungary.

“There is no plan B,” insisted Emmanuel Macron. Friedrich Merz escalated things in his farewell press conference, suggesting at close to midnight that Orbán’s intransigence could spell trouble for Hungary in upcoming EU budget talks.

Meanwhile, at his press conference, Council President António Costa launched an uncharacteristically harsh public rebuke of Orbán, accusing him of blackmailing the EU institutions and making demands that other EU leaders are simply unable to meet. It was “completely unacceptable” Costa said.

For now, though, the ...

6 minutes ago

As Putin’s War Comes Home, Russians Ever Less Prepared to Support It

Paul Goble

Executive Summary:

Russian President Vladimir Putin has sought to restrict the greatest impact of his war against Ukraine to marginal groups who could make money by serving in the military. The Kremlin realized early on that most Russians were not prepared to sacrifice for its war against Ukraine.

This approach is now failing because combat losses are mounting and the war coming home in the form of drone attacks and government cutbacks to key services to finance Russia’s armies in the field.

Polls suggest that these developments are reducing the willingness of Russians to give the war more than lip-service support. Putin is increasingly using repression to prevent protests, an approach costing him support, which could trigger a crisis.

To read the full article, click here or scroll down.

Telegram Outages Spike in Kremlin’s Push for Digital Control

Kassie Corelli

Executive Summary:

The Russian ...

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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