When China Collapses Financially, it Takes Other Enterprises Down, Oil

China loses control of economy and production is falling.

Investment in China has been a bad bet for many months.

One big issue could be some of the university investments and pension funds along with State pension funds. If you think 2008 was bad, things can could get worse. Let take a look at California.

California Public Pension Funds Lost $5 Billion On Fossil Fuel Investments In One Year

Two of California’s massive public pension funds lost more than $5 billion on investments in coal, oil and natural gas in just 12 months.

According to a report released by environmental group 350.org, the California Public Employees’ Retirement System (CalPERS) lost $3 billion and the California State Teachers’ Retirement System (CalSTRS) lost $2.1 billion from their holdings in the top 200 fossil fuel companies between June 2014 and June of this year.

Combined, the two funds lost a total of $840 million from their stock investments in coal companies alone — one-fourth of the value of their coal holdings.

Meanwhile, Bloomberg reported earlier this month that CalPERS, the largest public pension fund in the US, lost $40 million on just one oil company, Pioneer Natural Resources Co.

Together, CalPERS and CalSTRS represent a total of nearly 2.6 million Californians and their families.

“This is a material loss of money, which directly impacts the strength of the pension fund,” Matthew Patsky, CEO of Trillium Asset Management, which performed the analysis on behalf of 350, said in a statement. “Fossil fuel stocks are volatile investments. Investors and fiduciaries should take this moment to reassess their financial involvement in carbon pollution, climate disruption and the financial risk fossil fuels plays in their portfolio.”

The report comes as California legislators are set to consider a bill that would force CalPERS and CalSTRS to divest from fossil fuels, at least in part.

State Senate President Pro Tem Kevin De León introduced S.B. 185 earlier this year as part of a larger package of legislation intended to address global warming and its impacts. S.B 185 would require both CalPERS and CalSTRS to divest from companies that earn at least half of their revenue from coal mining operations.

The state senate approved the entire package of climate legislation in the Spring. S.B 185 is expected to be considered by California’s lower legislative chamber, the State Assembly, later this month.

“This bill is the right thing to do from both the economic and social perspective,” State Sen. Jerry Hill, who co-authored S.B 185, told the San Francisco Chronicle. “We should be moving to sources of energy, and investments, that are socially responsible and will take us from the 20th century and into the 21st.”

CalPERS has holdings in about 30 coal companies with a combined market value of $167 million that would be impacted by SB185, per the SF Chronicle. CalSTRS holds about $40 million in coal investments that would be affected.

“On behalf of teachers across the state, I have been urging CalSTRS to take our investments out of fossil fuels,” Jane Vosburg, a CalSTRS member and organizer with Fossil Fuel California, said in a statement. “Financial experts have long warned about the high risk of fossil fuel investments. Teachers’ pension funds should not be invested in an industry that threatens human civilization.”

If S.B. 185 passes, the California pension funds will become the latest institutions to join the growing divestment movement, a worldwide effort to compel pension funds, religious institutions, universities and other investors to divest their financial holdings in fossil fuel companies.

“It’s important to see that fossil fuels in general, and coal in particular, are risky bets for the pension system,” said Brett Fleishman, a senior analyst with 350.org. “When folks are saying divestment is risky, we can say, ‘Well, not divesting is risky.’

US crude oil dives below $40 a barrel in opening trade

New York (AFP) – US crude oil prices continued to fall Monday, diving below $40 a barrel to their lowest level since 2009, amid a global market selloff sparked by fears of China’s slowdown.

US benchmark West Texas Intermediate (WTI) for October delivery tumbled by $1.39 to $39.06 a barrel on the New York Mercantile Exchange around 1305 GMT. On Friday the contract had slipped below $40 in intraday trade.

As Iran now is increasing drilling output, oil will go lower in the price per barrel. Sounds good but not so much.

 

Can the UK or the Foreign Minister be Anymore Stupid?

 Philip Hammond@PHammondMP 7h7 hours ago

Leading business delegation with to discuss future opportunities in for British business.

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Graffiti in Persian reads "Death to England" is seen above a picture of Queen Elizabeth II at the British Embassy in Tehran, Iran   

Courtesy of the Telegraph.

The graffiti above a portrait of the Queen provided a scrawled reminder of just how venomous Anglo-Iranian relations once were.

”Death to England” read the message in orange marker pen, daubed inside the elegant ambassador’s residence of the British embassy in Tehran. The motif was still visible on Sunday when Philip Hammond officially reopened the mission, four years after a mob vandalised its spacious premises.

On November 29 2011, this building along with every other in the embassy’s five-acre compound was ransacked by about 200 people, including members of the regime’s Basij militia.

The Foreign Secretary says Iran and Britain will not always agree but there should be no limit to what the countries can achieve together ….. He said WHAT?

Iran’s ayatollahs will never be friends of the UK

We are heading for disaster if we abandon our historic Middle East allies in favour of friendship with Tehran

In part from the Guardian: Here we go again: another British foreign secretary in Iran with the hopeful expectation of forging closer ties with the ayatollahs. Ever since Iran’s Islamic revolution in 1979, the holy grail of British foreign policy has been to reach out to the moderates in Tehran, thereby isolating the hardliners.

Back in the Eighties when, thanks to Iran’s Revolutionary Guard, British hostages such as Terry Waite and John McCarthy spent five or so years chained to radiators in Lebanon’s Bekaa Valley, Sir Geoffrey Howe, our then foreign secretary, frequently told me that the hostage crisis could be resolved if only we could establish a working relationship with the moderates in Tehran. But for all our entreaties, the hardliners won the day, and the hostages were eventually released when the ayatollahs deemed them to be surplus to their agenda.

More recently, in 2003, New Labour’s Jack Straw believed he had identified a similar moderate tendency in Iran’s political establishment, during the presidency of Mohammad Khatami. This, of course, was in the aftermath of the Iraq War, when the ayatollahs feared – not unduly – that they might be next on President George W Bush’s hit list.

Lord Lamont, the former Tory Chancellor, is one of the more vocal members among an influential group of establishment figures in London who advocate embracing the ayatollahs, a view that is also being enthusiastically taken up by those in the business community who hope to benefit from the estimated £100 billion Iran will soon receive when its overseas assets are released.

But in this unseemly scramble, the Government now appears content to turn a blind eye to some of Iran’s more egregious activities. For example, after an Iranian mob stormed and then trashed the embassy compound in 2011, the Government insisted there would be no restoration of relations until the Iranians paid full compensation for the damage caused. But as this newspaper reports today, Britain has paid the full cost of the repairs.

Similarly, Whitehall would like to draw a discreet veil over similarly vexing issues, such as whether the Home Office will be able to act against Iranian nationals who overstay their welcome in the UK. Without the proper safeguards, we could end up with Hizbollah and Revolutionary Guard terrorists setting up operations in the UK, just like al-Qaeda and Isil have sought to do.

The Rest of the Story of the Train Attack Foiled by Americans

When will Europe get serious? It is not for lack of attacks, evidence, intelligence or testimony. The leadership in Europe is just plain stupid and that is not only dangerous, but bloody and deadly.

It is in Belgium but for sure all over Europe.

Unarmed, 3 Americans stopped what could have been a very deadly train ride.

Their interview is here.
To see the real video of the attack:

The gunman is 25-year-old Moroccan national Ayob El Khazzani, boarded the Amsterdam-Paris express in Brussels on Friday with a Kalashnikov assault rifle, a Luger automatic pistol, nine cartridge clips and a box-cutter, investigators say. Spanish police actually alerted the French intelligence wing and French police in March of 2014 and al Khazzani was in the French database. Truth be told, this jihadi was in at least 26 European databases and with good reason. He and his family lived in Spain and he was arrested several times for drug trafficking and still had outstanding warrants.

In 2014, he moved from Spain to France and traveled to Syria and Belgium intelligence services upgraded the information in their own database. France has at least 5000 jihad inspired and or trained names in their database but it is unknown what Belgium has. However, none of this should come to any surprise in Europe and there is a reason for that, so read on.

‘Sharia4Belgium’ Leader and Dozens of Other Militants Are Sentenced to Jail Time

ViceNews: A Belgian court ruled on Wednesday that Sharia4Belgium, an Islamist group accused of running a jihadist recruitment cell in the country, was “a terrorist organization” and found 45 members guilty of terror charges.

The correctional tribunal in the port city of Antwerp sentenced Fouad Belkacem, the group’s 32-year-old leader who goes by the alias “Abu Imran,” to 12 years in prison. The other 44 members on trial were sentenced to between three and 15 years in jail, with some of the sentences being suspended.

This is the biggest-ever trial of its kind in Belgium. Only seven defendants were present in court, with the remainder believed to be either dead or still fighting in Syria. The photograph above shows Michael ‘Younes’ Delefortrie outside the main entrance of the courthouse.

Sharia4Belgium — a group once credited with being a major source of Belgian jihadists to Syria — disbanded in 2012 when Belkacem was arrested and sentenced to two years for inciting hatred and violence towards non-Muslims. But, according to the court, the organization continued to operate as a recruitment cell into 2013.

Belkacem, who has been described by public prosecutor Ann Fransen as “the group’s undisputed ringleader,” is no stranger to the courts and he has been arrested several times in the past for theft.

“Belkacem is responsible for the radicalization of young men to prepare them for Salafist combat, which has at its core no place for democratic values,” Judge Luc Potargent said on Wednesday.

The trial took place amid a wider debate on escalating radicalization in Europe. It opened in September 2014, four months after a French national with links to militant groups opened fire in the Jewish Museum of Belgium in Brussels, killing four people. Wednesday’s verdict also comes in the wake of the Paris terror attacks that left 17 dead in early January.

There have been several high-profile police raids against suspected jihadist networks since then, including a shootout in the eastern Belgian town of Verviers, when counter-terrorist units reportedly foiled a jihadist plot to stage a major terror attack.

It has been estimated that 450 Belgian nationals could be fighting in Iraq or Syria. On those figures, Belgium has one of Europe’s highest per capita ratio of jihadists fighters overseas.

“Sharia4Belgium recruited young men for armed combat and organized their departure for Syria,” the judge at the correctional tribunal said.

According to reports, Sharia4Belgium was responsible for 10 percent of these departures. Romain Caillet, a researcher and specialist in Islamic movements based in Beirut, told VICE News that most of the group’s recruits are believed to be fighting alongside the al Nusra Front — al Qaeda’s branch in Syria.

Sharia4Belgium was a Salafist group that followed in the footsteps of Islam4UK, a UK-based organization formed in 2008 by radical preachers Omar Bakri and Anjem Choudary. Offshoots of the group were subsequently opened in Holland, Denmark, and even in the US. The Belgian version surfaced around the 2010 parliamentary elections and established itself in the northern city of Antwerp.

Belgian sociologist and religions expert Felice Dassetto told VICE News that the group was born of a shared vision with its UK counterpart: “Sharia4Belgium is a classic radical movement which promotes a pro-sharia ideology. According to the movement, a true Muslim must display the religion in the public space, [it is] a political vision of religion.”

As its name implies, the group’s ambition was to impose sharia law throughout Belgium. In the past, the group has declared Belgian elections illegal and threatened to destroy the Atomium tourist attraction in Brussels. The group also criticized France’s full-veil ban, saying it would support any woman who chose to wear a full-body veil in public.

In June 2011, a few months after protesters in Paris staged a demonstration against the French ban on face covering, VICE interviewed Belkacem. At the time, he described himself as “a spokesman” for both Sharia4Belgium and Sharia4Holland. “We’re tired of people constantly attacking our Ummah,” he said, referring to the worldwide Islamic community. “It’s not fair. No one is listening to us.”

At the time, Belkacem denied being at the head of a terror cell. “We want to fulfill Allah’s wish — that’s our mission,” he explained. “The true religion must dominate the world. Of course, I mean Islam. We want out message to be clear. Islam does not compromise. We don’t beat about the bush. We openly affirm the supremacy of Islam in the world.”

“We don’t believe in the separation of church and State. Look at what this democracy has brought us: nothing but economic crisis. Our country has had no government in a year. How can we still be boasting the values of democracy?”

There are several theories about why Belgium produces so many militants. For Montasser AlDe’emeh, a researcher who has been studying the Belgian jihadist movement, tensions between the Flemish and the Walloon communities in the country and the ensuing lack of national unity are a factor of radicalization.

“We live in a divided country,” AlDe’emeh told Germany’s Der Spiegel. “The obvious structure of an Islamic theocracy seems more and more alluring.”

 

 

North Korea’s Underwater War

S. Korea slams North over submarine, artillery deployments

Seoul (AFP) – North Korea has mobilised dozens of submarines and doubled its artillery units along the border, South Korea said Sunday, accusing Pyongyang of undermining top-level talks aimed at averting a military confrontation.

A defense ministry spokesman said 70 percent of the North’s total submarine fleet — or around 50 vessels — had left their bases and disappeared from Seoul’s military radar.

The movement of such a large number of submarines was “unprecedented,” the spokesman said, adding that Seoul and Washington were beefing up their military surveillance in response.

“The number is nearly 10 times the normal level… we take the situation very seriously,” he said.

The North has also doubled the number of artillery units along the heavily-fortified land border with the South, he added.

The move came as top officials from both Koreas resumed a talks aimed at easing military tensions after a marathon negotiating session the night before ended without final agreement.

“The North is adopting a two-faced stance with the talks going on,” said the spokesman.

Yonhap news agency, citing military officials, said the submarine deployment was the largest since the end of the 1950-53 Korean War.

“No one knows whether the North will attack our warships or commercial vessels… we are mobilising all our surveillance resources to locate them,” it quoted one military official as saying.

The North operates more than 70 submarines — one of the world’s largest fleets — compared to about 10 in the South, according to Seoul’s latest defense white paper.

The South accused Pyongyang in 2010 of using a submarine to torpedo a Seoul warship resulting in the loss of 46 lives — a charge the North denied.

Tension flared on the Korean peninsula after Seoul accused Pyongyang of planting landmines across the border that earlier this month maimed two South Korean soldiers.

Pyongyang denied involvement but Seoul retaliated by resuming loudspeaker propaganda broadcast hated by the North along the border on August 10.

The North’s leader Kim Jong-Un last week ordered his military to move to a war-footing after an exchange of artillery fire on Thursday that claimed no casualties but further escalated tensions.

We have counter-measures my friends but this is a dangerous time, no doubt.

There are more measures and operations is full use, but it would not be prudent to note those here, for operational security reasons.

However, it should be know that China has yet another piece of advance technology that we should know about.

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We have those too and certainly more lethal.

Remember, China never innovates, they only imitate, which is to say they hack and steal anything and everything. Question is who are they sharing it with… Some sources for underwater technology are here.

 

Why Should the Civil War in Syria Concern You?

Latakia, Syria is one of the locations of Bashir al Assad’s homes. It has been yet one of many sites of deadly hostilities since the civil war began.

Syrian airstrikes just killed 50 rebels that have been taking the fight against the Assad regime.

Latakia is 4th largest city in Syria, made up of mostly Alawites, a culture from the 9th century and the Assad family dynasty is Alawite, which is to say, an Alawite is known to be from Ali ibn Abi Talib, the son in law of the prophet Mohammad. During the Ottoman Empire, the Alawites were suppressed and an attempt was make to convert them to Sunni.

Anyway, Latakia is no more the destination of choice for the elites of the Middle East. The video above demonstrates how ordinary citizens have become crafty fighters, trained on their own and resourceful when it comes to using powerful military gear, weapons, procurement and to what end?

Consider, there has been a generation that has now passed where children are now adults and their only known education is a battlefield, shelling, fighting, use of weapons and no peace. No one can determine how long this war will continue, yet with the Iranian war machine in full support of Bashir al Assad, it will continue. For generations to come, new breeds will be battlefield tested and experienced and where will our own in the United States be?

Let that sink in.