To add a bit to my tirade against MMT (and other monetary nonsense) on Monday, some people will claim that because we can also buy raw material resources (such as ores or roundwood), finished goods, and services with money, my claim that money just stands for energy is mistaken. Note, however, that without energy, any material resource you might obtain would have a value of precisely zero. And there would also be no services or finished goods. Energy is needed to "unlock" the potential value of material resources. In other words, material resources are onlyincidentalto energy. In the final analysis, everything comes down to energy. -- RF
## Fault lines/flashpoints/powder kegs/military/war drums ## Turkey, Russia in negotiations for potential Su-35 jet deal Turkish and Russian government officials are in an “advanced stage of negotiations” to finalize a potential deal on Russian-made Su-35 fighter aircraft, Turkish officials said.
Trump also highlighted a potential U.S. energy market opportunity by tapping into Syrian oil.
And that's the plan for Venezuela, too. All the major players on the global chessboard are grabbing everything they can because they know that controlling the oil means controlling the world. They also know that military forces powered by fossil fuels will crush military forces that rely on renewables. -- RF
About Trump Wanting Iraq’s Oil Fields What the president advocated was one of the most telling statements of his presidency. It amounted to an admission that he is perfectly willing to commit a war crime.
Chinese military plane enters South Korea's airspace A Chinese military plane entered South Korea's air defense identification zone after sending prior notification on Tuesday, the Joint Chiefs of Staff said, in a turnaround from China's practice of breaching the zone without notice.
The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, industry and banking sources said.
Since Donald Trump was elected president the New York Times' understanding of the 'Deep State' evolved from a total denial of its existence towards a full endorsement of its anti-democratic operations.
All that ridicule of the deep state theory, and now suddenly it becomes mainstream. This is a serious matter. In a democracy, unelected bureaucrats are supposed to implement the programs set forth by elected officials, not take matters into their own hands. -- RF
The Islamic State leader died after running into the end of a tunnel, “whimpering and crying and screaming all the way,” as he was chased by American military dogs, Trump said.
Big talk comes cheap when you have the world's biggest military at your disposal and are surrounded by a small army of highly trained bodyguards 24/7. My guess is that if Trump were cornered by a death squad and facing certain death, he would be on his hands and knees squealing for mercy, just like any other ordinary human being. -- RF