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Generational Dynamics World View
(09-15-2017, 10:28 PM)John J. Xenakis Wrote: *** 16-Sep-17 World View -- What you should do about the huge Equifax data breach

This morning's key headlines from GenerationalDynamics.com
  • The huge Equifax data breach puts makes many people vulnerable to identity theft
  • Steps you should consider taking to protect yourself
  • Equifax and the rise of Generation-X
  • Release of DOJ memo reveals massive criminal fraud by JP Morgan in financial crisis

****
**** The huge Equifax data breach puts makes many people vulnerable to identity theft
****


[Image: g170915b.jpg]
Equifax headquarters

Here's something that I wrote in my Feb 26 2013 World View article:

>        [indent]<QUOTE>"Apparently, Equifax's networks and databases have
>        been hacked

>    
>        I use different e-mail addresses for almost everything.  That way,
>        I know whether a company is using my e-mail address for spam.
>    
>        In 2005, I registered with the Equifax web site to do some
>        research for a brief period.  Starting about a month ago, I've
>        been receiving several spam messages a day to that e-mail address.
>    
>        Therefore, I conclude that Equifax's networks and data bases have
>        been hacked, and e-mail addresses have been stolen at the very
>        least.  Whether Equifax's credit card databases have also been
>        hacked is something I have no way of knowing."<END QUOTE>
[/indent]

I still receive spam messages to that e-mail address.  The latest one
was from someone named Natasha who is writing to "foreigners as they
are fascinated by the beauty and simplicity of Slavic women," and by
the "simplicity and the intense aura of emotions which we have."
Tempting, huh?

Apparently, Equifax didn't take network security seriously, even after
they'd already been hacked.  This doesn't surprise me in the least.
When I was working for Ability Networks, their servers were hacked by
a combined Phishing/Ransomware attack.  No data was stolen, but I
warned my employer that they should at least encrypt the social
security numbers in their main data base.  My warnings were ignored
because spending money on security doesn't generate sales.

So here it is over four years later, and Equifax's data bases have
been the target of possibly the worst data breach in history.  Some
143 million people had their personal information stolen, including
social security numbers names, driver's license numbers, dates of
birth, and so on.  Most of the people are Americans, but some are from
Canada, Britain and Europe, and possibly other countries as well.

Somebody who had all that information about you could take out a big
loan in your name, commit fraud in your name, or steal your entire
identity.

Somebody now has a copy of all that Equifax information in their own
database.  They can start selling it to other people, or they could
use it for other purposes.  Since social security numbers can't
change, this can happen for years to come.  Economist and Fox Business

****
**** Steps you should consider taking to protect yourself
****


I got a phone call today from a perky-sounding girl who said that I
qualify for a big discount on the vacation of my dreams, and all she
needs is a little information.  This is a typical scam for collecting
information, sometimes to augment additional information available to
the hacker, to get a complete picture to be used for fraud or identity
threat.  Do not, under any circumstances, give any information to
anyone under such circumstances, even the name of your pet cat.

A variation is a "Spear Phishing" attack.  You receive an e-mail
message from someone you know, perhaps your boss or a friend or
coworker or your bank or your broker.  The message contains personal
information, proving that the message is legitimate.  It asks to click
on a link, which ends up infecting your computer with malware,
allowing the hacker to steal your banking information.  The e-mail
information was carefully crafted to fool you, perhaps combining
information from several sources, such as the Equifax hack, plus your
Facebook page, plus a scam phone call.  If you receive an e-mail
message that asks you to download something, even if it's from someone
you know, then contact the supposed sender, and ask him why the hell
he's so stupid that he's sending you something so dangerous and
inappropriate.

For the protection of your computer, you should make sure that you
have anti-virus and anti-malware software installed, and that it's up
to date.

For protection from identity theft, you might consider getting a
"credit lock" or "credit freeze."  This is a service offered by each
of the three credit reporting agencies, Equifax, TransUnion and
Experian, for about $10 per year each.  Equifax is waiving its fee for
one year, but you'll still have to pay the others.  This service
prevents someone from getting your credit report without your
permission, blocking them from taking out a loan in your name.  It's a
pain in the neck to administer, but you may consider it worth the
trouble.

The following are links to articles that provide additional
information on the above and other steps to protect yourself: Federal Trade Commission and CBS News and NPR and CNBC and Engadget

****
**** Equifax and the rise of Generation-X
****


As I wrote above, Equifax obviously didn't really care much about
network security.  In my experience, Gen-Xers ignore warnings about
things like security if the warnings come from a Boomer, of whom many
Gen-Xers are often contemptuous.

Having been in the computer industry my entire life, I've seen several
disasters for exactly that reason.  At Computer Sciences Corp., a
Gen-Xer sabotaged someone's code.  At a couple of places, including
Fidelity and CACI, managers fired people who warned that the project
was headed for failure, and then the project failed anyway.  Every
disaster of this type that I've personally seen has always involved a
dysfunctional action by a Gen-Xers to sabotage a Boomer.  I've written
about this on my web site dozens of times over the years, and it
apparently stems from their anger at their parents' divorce in the
1980s.

The most amazing example is what happened on the afternoon of October
1, 2013, when President Obama stood up at a press conference to launch
Obamacare.  When a reporter asked why so few people could log on, he
answered that millions of people were enrolling for insurance, so the
web sites were slow.  As it turned out, only six people across the
country were able to enroll on that day.

How is it possible that Obama and the entire White House were so
completely blindsided by the disaster that was already unfolding that
they didn't even know what was going on hours after the launch had
begun?  How many people had to lie?  How many people had to commit
fraud?  How many people had to be silenced or fired?  How many layers
of management were lied to, to prevent Obama from knowing the size of
the disaster, hours after the disaster was already in progress?

I wrote about this at length in "Healthcare.gov -- The greatest software development disaster in history".  As I described, the reason that Obama was
completely blindsided on Oct 1, 2013, is because the thousands of
people on the healthcare.gov project all lied, every one of them.
Obama got what he deserved, and the rest of the country got screwed.

This is the world we live in now, where black is white and white is
black, whether you're in the mortgage industry, the computer industry,
the newspaper industry, or any other industry, and anyone who talks
about what's really going on is subjected to being silenced, one way
or another.

Here's something that a web site reader recently wrote to me:

>        [indent]<QUOTE>"I have spent my entire adult life in mortgage lending
>        and the amount of corruption is stunning. I have in the past tried
>        to report issues. What I got was referred to agency after agency
>        to ending in frustration. There was even one time that after
>        getting my personal info the guy started asking me if I had some
>        kind of grudge. I said no but asked how that would matter anyway
>        if the information was correct. He then started just burrowing
>        into me, didn't ask a thing about the subject I called about.
>    
>        It's like there is this secret club with wholesalers and
>        government workers. Like nothing I had seen before. Scared me;
>        thought I was going to be targeted."<END QUOTE>
[/indent]

These things were almost unthinkable prior in the 1980s and 1990s,
when the Silent and Boomer generations were in charge.  They only
became possible with the rise of Generation-X.

So now getting back to the situation at Equifax, it's even a lot worse
than described above.

Equifax learned about the hack on July 29, but didn't inform the
public for several weeks.  Two days later, on August 1, three Equifax
executives sold $1.8 million worth of shares, allegedly to avoid
losing money from the stock price falling when the breach was made
public.  Equifax claims that they were going to sell the shares
anyway, and didn't know about the breach.

Equifax itself is in serious trouble for incompetence in protecting
consumers' personal data.  The attackers breached Equifax's server in
April because of a vulnerability in the "Apache Struts" web
application software.  The Apache Software Foundation had released a
patch for the vulnerability in March, but Equifax didn't bother to
install the patch, which would have taken minutes.

So Equifax is in trouble for multiple reasons: They didn't install the
patch; when the breach was discovered, they didn't notify anyone for
weeks; and executives sold their shares, possibly violating insider
trading laws.  And we won't even both to list the ways in which
Equifax botched the announcement of the breach.  Based on my
experience and years in the computer industry, these are the actions
of a bunch of dumb, incompetent kids who think they know everything
and really know nothing.  They're getting what they deserve.  Law.com and Wired and
Engadget

Related: Obamacare: 500M lines of code, $500M, only 60% completed (01-Dec-2013)

****
**** Release of DOJ memo reveals massive criminal fraud by JP Morgan in financial crisis
****


I've been writing for years that it was mathematically provable that
the banks had committed massive fraud in knowingly selling defective
subprime mortgage backed synthetic securities, causing the financial
crisis.  These fraudulent synthetic securities were created by
Gen-Xers who earned Master's degrees in "financial engineering" in the
1990s, and applied their skills to defraud their fathers' generation
in the 2000s.  It's provable that the fraudulent securities were
created by Gen-Xers, since their Boomer bosses had no clue how to do
it.  But it's also provable that their Boomer bosses knew what was
going on, because the financial engineers were taking B-rated
securities, slicing and dicing them, and magically converting them
into AAA-rated securities, which was mathematically impossible.  I
wrote about all this in my 2010 article, "Financial Crisis Inquiry hearings provide 'smoking gun' evidence of widespread criminal fraud".

I've repeatedly accused the Obama administration of purposely covering
up this criminal activity, and instead allowing JP Morgan, Citibank,
and other banks to contribute billions of dollars to Obama's campaigns
and pet projects, effectively becoming co-conspirators in the massive
criminal fraud that caused the financial crisis.

A 2013 memo from the Obama Justice Department, obtained through the
Freedom of Information Act, was just released, and it proves that
these accusations were all true:

>        [indent]<QUOTE>"By this action, the United States seeks to recover
>        civil penalties [against JPMorgan Chase] for a fraudulent and
>        deceptive scheme to package and sell residential mortgage-backed
>        securities [that the bank] knew contained a material amount of
>        materially defective loans. ...
>    
>        JPMorgan knowingly securitized and sold billions of dollars of
>        mortgage loans that were originated in material violation of
>        underwriting guidelines and law."<END QUOTE>
[/indent]

Other revelations in the 92 page memo include:
  • JPMorgan Chase knew that “many of these loans were tainted
    with fraud” and “knowingly misrepresented” that the loans met its
    underwriting guidelines, even though they clearly did not.

  • "These fraudulent misrepresentations [cost investors] to suffer
    billions of dollars in losses."

  • The bankers and traders who committed the fraud were rewarded with
    bonuses running into millions of dollars each.

  • CEO Jamie Dimon became aware in October 2006 that the synthetic
    securities were failing, but: "despite knowledge at the highest levels
    that underwriting had deteriorated across the industry and early
    payment defaults were spiking, JPMorgan continued to purchase and
    securitize subprime loans without addressing the known breakdown of
    its due diligence practices and without disclosing its knowledge to
    investors."  This is exactly what other banks did, as I wrote about
    years ago.  As the fraud was being discovered, bankers doubled or
    tripled the volume of their sales, in order to make as much as they
    could, while they could.

The 2010 article that I wrote was about Citibank, and it proved
mathematically that Citibank must have committed exactly this kind of
criminal fraud.  The memo about JP Morgan shows that the Obama Justice
Department was fully aware of this criminal fraud, and was committed
to using the Justice Department to cover up the criminal fraud in
return for billions of dollars in payments and contributions.

This week there's a lot of stuff coming out about the Obama
administration, such as Susan Rice's illegal unmasking of political
opponents, confirmation that the Lois Lerner's IRS illegally targeted
political opponents.  I'm a pretty cynical person.  I look upon this
as happening because the Obama administration had a Generation-X
culture, with little regard for the law or common sense.  Let's hope
that the Boomer culture of the Trump administration does better.
Vanity Fair

Related Articles


KEYS: Generational Dynamics, Equifax, TransUnion, Experian,
Spear Phishing, Healthcare.gov, Obamacare, Generation-X,
JPMorgan Chase, Jamie Dimon, Citibank

Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal

John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum:    http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe

The average dumbshit does all of their banking and much commerce online, leaving a digital trail of critical info. The average dumbshit is completely "TMI" on their social media accounts and often have a global setting, allowing "Natasha" and others unmitigated complete access to their blatherings, the names and faces of their kids, the way their house looks, and so on.

I've been a people and matrix manager for over 20 years and rather than figure out how to fire or silence Boomers I did much to help and extend their careers. When Boomers retire they typically take untold knowledge and experience with them. Most companies lack even the most rudimentary Knowledge Management practices and rely completely on tribal knowledge, so when people leave, overall knowledge and capability undergo a hit. It is the shame of a nation.
#ImpeachTrump
#ProsecuteTreason
#HUAC2.0
#RealNationalism
#NaziPunksFOff


Mark 13:22 - "For there shall rise false Christs and false prophets, and they shall give signs and wonders, to seduce, if possible, also the chosen."


Reply
Boomers like JohnX again criticizes Russian, Chinese, Indian, Syrian and Burmese actions regarding minority populations and disputes with their neighbors. Yet the boomers demanding US intervention are the same boomers who never get the hint that at no point has Russia, Syria, China, India, or Burma/Myanmar asked us to intervene. That the US is involved is purely to the boomer leaders extreme selfishness, in these particular cases do to the boomers growing what appears to be "sticking their nose in other peoples business" lobe, a peculiar ossification of the brain that is largely unique to baby boomers.

At no point has Russia asked that the US participate in Ukraine, At no point has Syria's government asked the US to intervene, At no point has China asked the US to patrol the south china sea, at no point has Burma asked the US to send peacekeepers, at no point has India requested US aid to the strife on the frontier of Burma or even asked for US troops to observed the Chinese Border. All of these interventions or proposed interventions are due purely to the SELFISHNESS of the boomers and their acolytes.

Regarding the response to 9/11, even though this has nothing to do with the subjects mentioned recently, the war on terror would have been over and won had boomers not been SELFISH and had they simply began retiring in the early 2000s like they were supposed to. Then competent political and Military leadership would have won the war on terror and also strengthened deterrence against both Russia and China as well.

This is what boomers took away from Xers and Millies (focus on the attacking soldiers):

https://www.youtube.com/watch?v=ktcXN7fKiQs

another example (look at the clip especially from 9:00 to the end of the clip, look especially at the soldier around 10:35 to 10:45 of the clip, THAT is what selfish boomers took away from Xers and Millies)

https://vimeo.com/80267729
Reply
*** 20-Sep-17 World View -- Kenya's government in chaos as it faces a new election delay

This morning's key headlines from GenerationalDynamics.com
  • Russia's 'telephone terror' forces evacuation of over 200,000 people
  • Kenya's government in chaos as it faces a new election delay

****
**** Russia's 'telephone terror' forces evacuation of over 200,000 people
****


[Image: g170919b.jpg]
Moscow police block the entrance to Louis Vuitton after bomb scare (Reuters)

Dozens of Russian cities have been the target of hundreds of bomb
scares, starting on Sunday, September 10. Police cleared two dozen
buildings in the city of Omsk, including cinemas, schools, malls and
City Hall. In Ryazan later that day, eleven malls and several cinemas
and restaurants were evacuated.

On Monday, there were 42 bomb scares in four cities. On Tuesday,
45,000 people were evacuated from 205 buildings in 22 cities across
Russia. The bomb scares have continued every day. It's estimated
that over 200,000 people have been evacuated in cities across Russia
so far, costing the authorities about $5.2 million. And the end is
nowhere in sight.

The Kremlin's spokesman Dmitry Peskov called the bomb threats
"telephone terrorism." The hoaxes are being perpetrated by unknown
individuals calling in bomb threats from internet phone systems.
Since the internet is everywhere, the bomb threats could originate
from anywhere in the world.

One report from an unnamed source says that the internet phone calls
were tracked to an IP address in Ukraine. However, other sources in
the Russia's Interior Ministry say that the hackers may be based in
Brussels.

Other theories are that the hoax phone calls are from the so-called
Islamic State (IS or ISIS or ISIL or Daesh), presumably by Russian
citizens from Chechnya or Dagestan who went to Syria to fight Bashar
al-Assad.

Russian authorities say that they're doing all they can to find the
perpetrators, but for the time being, the authorities are stumped.
Window on Eurasia and Moscow Times and Tass (Moscow) and Moscow Times

****
**** Kenya's government in chaos as it faces a new election delay
****


When Kenya's Supreme Court declared that the August 8 election was
"invalid, null and void" because of electoral committee
irregularities, it gave the government 60 days to hold a new election.

A new election was scheduled for October 17, but Safran Identity and
Security, the French IT consultants that provide electronic election
management system, says that it will not have its systems ready by
then, and is requesting that the election be postponed at least until
October 26.

The key players are unable to agree on the details of how to run the
new election, and these disagreements raise doubts that any credible
election can be held.

The incumbent, Uhuru Kenyatta, who was reelected in the election
declared invalid, has called the four Supreme Court judges who voted
to nullify the election "crooks," implying that they were paid off by
the opposition. Kenyatta's supporters have been protesting in fron
the Supreme Court building, claiming that they stole the election from
Kenyatta.

The opposition candidate, Raila Odinga, blames the Independent
Electoral and Boundaries Commission (IEBC), which oversaw the first
election. Odinga is demanding that its members resign, claiming that
the rigged the first election in favor of Kenyatta, and that he was
proven right when the Supreme Court nullified the election.

Because of numerous threats of violence, Supreme Court judge David
Maraga issued a statement on Tuesday:

<QUOTE>"1. You will recall that four weeks ago, the Judicial
Service Commission addressed Kenyans through a press conference at
this very place over the increasing incidence of attacks by
various groups of people who were given to making threats and
demands intended to interfere with the work of the Judiciary.

2. Since the Supreme Court delivered the judgement on the 2017
Presidential Election Petition on September 1, 2017, these attacks
have become even more aggressive, culminating in lengthy
uninterrupted demonstrations right outside the Supreme Court
Building yesterday and today.

3. Whereas we recognise and respect the rights of citizens to
picket as provided in the Constitution, these demonstrations have
bordered on violence and are clear, intended to intimidate the
Judiciary and

4. Further, in a particularly unfortunate incident yesterday in
Kirinyaga County, Hon. Martha Karua was blocked by demonstrators
from accessing the Kerugoya Law Courts for the hearing of her own
petition. This amounts to intimidation of petitioners and should
never be allowed to happen."<END QUOTE>


The Supreme Court has said that on Wednesday (today), the Supreme
Court would provide details of the reasoning behind its ruling
nullifying the August 8 election. Standard Media (Kenya) and Bloomberg and Chronicle (Zimbabwe) and Twitter - David Maraga

Related Articles


KEYS: Generational Dynamics, Russia, Omsk, Ryazan, Moscow,
Dmitry Peskov, Ukraine, Brussels, Syria, Bashar al-Assad,
Islamic State / of Iraq and Syria/Sham/the Levant, IS, ISIS, ISIL, Daesh,
Chechnya, Dagestan,
Kenya, Uhuru Kenyatta, Raila Odinga, David Maraga,
Independent Electoral and Boundaries Commission, IEBC

Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal

John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum: http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe
Reply
*** 21-Sep-17 World View -- With Trump's sanctions in place, Venezuela expected to go bankrupt soon

This morning's key headlines from GenerationalDynamics.com
  • With Trump's sanctions in place, Venezuela expected to go bankrupt soon
  • Analyst advises Venezuela on keeping its assets safe from creditors
  • Maduro tells Venezuelans to breed and eat rabbits

****
**** With Trump's sanctions in place, Venezuela expected to go bankrupt soon
****


[Image: g170920b.jpg]
A member of the national guard fires his shotgun during clashes in Caracas, Venezuela, in July (Getty)

An economic analyst is advising Venezuela's government on ways to move
Venezuela's assets out of reach of American and other international
courts, if Venezuela defaults on its national bond payments, effective
declaring national bankruptcy.

Venezuela has met all its debt repayment obligations so far, but some
analysts are predicting that Venezuela will default on bond payments
before the end of 2017. Venezuela has an estimated $63 billion of
bond obligations.

The probability of default has increased substantially since August
25, when US president Donald Trump imposed sanctions that prevent
further borrowing, either by the Venezuelan government itself, or by
the nationalized state oil and natural gas company, Petróleos de
Venezuela, S.A. (PDVSA). With both the government and PDVSA severely
restricted in borrowing more money to make payments on existing debts,
it's believed that there will be a default. On August 31, the Fitch
Ratings service downgraded Venezuela's bonds from CCC down to CC, to
reflect the increased chance of default after the new sanctions were
imposed. Reuters (26-Aug) and Latin America Herald Tribune (31-Aug)

****
**** Analyst advises Venezuela on keeping its assets safe from creditors
****


A lengthy analysis by Mark Walker of Millstein & Co, co-authored by
Richard Cooper at Cleary Gottlieb provides a roadmap for Venezuela to
keep state out assets out of the reach of creditors. In particular,
it describes methods for keeping the assets of PDVSA, the nationalized
state oil company, away from its own creditors and the government's
creditors.

According to the analysis:

<QUOTE>"As the humanitarian, economic, financial and
political crisis intensifies in Venezuela, so too does the
complexity of the tasks the country must accomplish to reverse the
18 years of mismanagement and policy distortion that marked the
presidencies of Hugo Chavez and Nicolas Maduro. The difficulty of
reforming the economy in the aftermath of these failed policies is
compounded both by the need to carry out this reform in what is
likely to be a wrenching change in the political landscape and by
the fact that there are stakeholders in Venezuela with a strong
interest in maintaining the status quo. That said, Venezuela has
no other choice but reform and political change. The current
government has openly opposed the reforms necessary to stabilize
the Venezuelan economy and create the conditions for sustained
growth. It has lost legitimacy and credibility internationally as
well as domestically. The President and many of its senior
representatives are isolated from discourse by sanctions imposed
by the United States, and the acquisition and trading of new debt
is now prohibited by the same U.S. sanctions, with other countries
likely to follow. Accordingly, we start from the premise that the
only Venezuelan government that will be able to carry out a
restructuring of Venezuela’s liabilities is a government—which
could be a caretaker or transitional government—that demonstrates
a credible commitment to the necessary reforms and can undertake
binding obligations in a restructuring whose validity under
applicable laws is not subject to challenge."<END QUOTE>


It's good that Walker and Cooper get these assumptions out of the way,
because in my opinion the assumptions are unrealistic. In my opinion,
Venezuela's Socialist president Nicolás Maduro Moros will never
"demonstrate a credible commitment to the necessary reforms." This is
the psychopathy we see today in governments around the world --
Syria's president using Sarin gas and barrel bombs on innocent women
and children, the governments of Eritrea and Burundi using arrest,
rape, murder and torture at will of anyone who expresses opposition to
the government, or Burma's government using genocide and ethnic
cleansing to eliminate a million Rohingyas.

In my opinion, Maduro's government is headed in the same direction as
the governments of Syria, Eritrea, Burundi or Burma, and not in the
direction of "a credible commitment to the necessary reforms."

Walker and Cooper agree with that, but make an even more unlikely
assumption -- that Maduro will step down and give control to "a
caretaker or transitional government -- that demonstrates a credible
commitment to the necessary reforms."

So having said that, let's look at the actual proposal:

<QUOTE>"Accordingly, we see as the first step and priority in
any restructuring process the implementation of measures to
protect the country’s assets, particularly those vulnerable to
seizure, such as the proceeds from the sale of oil, while it
simultaneously commences discussions with the IMF, bilateral
lenders such as China and Russia and market participants -- a
process that will take several months at the least. Once the
nation’s assets are secure, Venezuela will be able to enter into
good faith negotiations with the official sector and its
creditors, use its scarce foreign exchange in the best interests
of the country and stop immediately the pursuit of dangerously
uneconomic transactions whose sole purpose is to avoid a bond
default. ...

Knowing that a default is both inevitable and necessary, Venezuela
must have as its highest priority the objective of protecting
PDVSA’s cash generating assets located outside
Venezuela."<END QUOTE>


Maduro in "good faith negotiations"? I don't think so.

Anyway, Walker and Cooper suggest several methods from Venezuela and
PDVSA to effectively declare bankruptcy. They recommend that
Venezuela modify its existing Venezuelan Public Sector Revitalization
Law so that it will be recognized by the U.S. Bankruptcy Court as "a
collective judicial or administrative proceeding in a foreign
country," where "collective" means "one that considers the rights and
obligations of all creditors" in allocating PDVSA's assets. This
would mean, for example, that the law could not could not favor
Maduro's friends -- Russia and China, who are owed $37.2 billion --
over American and other Western creditors. This would require an
independent entity outside of Maduro's control allocating PDVSA's
assets among creditors and, once again, in my opinion Maduro would
rather eat mud than agree to anything like that.

As a last resort, Walker and Cooper advise that if all else fails,
then Venezuela should try to get the bankruptcy processed by a UK
court, taking advantage of English law which may be more lenient.

Finally, the Walker and Cooper paper returns to the assumption of a
transitional government:

<QUOTE>"Our premise, however, is that the current regime
cannot today restructure its debt and that the Venezuelan Public
Sector Revitalization Law will be enacted by a government that is
attempting to overcome a humanitarian and economic crisis of
historic proportions created by prior administrations. Far from
imposing sanctions, we assume that at such time U.S. policy will
be to promote a restoration of Venezuela’s economy and the revival
of its democratic"<END QUOTE>


So, the idea is that Maduro will agree to hand power over to an
independent transitional government, and the U.S. courts will be
extra-lenient, in order " to overcome a humanitarian and economic
crisis of historic proportions created by prior administrations. Far
from imposing sanctions."

Well, stranger things have happened. And even if Maduro doesn't
voluntarily step down, maybe Venezuela's army will finally force him
to step down, for the good of the country.

What the Walker and Cooper proposals really show is that Venezuela is
at a fork in the road. If Maduro steps down and lets someone else
govern, then some of the proposals discussed here could be
implemented.

It's tempting to say that never happens, but in fact Communist and Socialist governments did end peacefully in Cuba,
East Germany and Russia, and returned to at
least a semi-capitalist free economy.

The other alternative is that Maduro refused to step down, and the
streets are flowing with blood. Reuters and SSRN papers

****
**** Maduro tells Venezuelans to breed and eat rabbits
****


[Image: g170920c.jpg]
Yum! Dinner!

Venezuela's Socialist president Nicolás Maduro Moros has inflicted
enormous pain and humiliation of the country's people, with empty
store shelves and shortages of everything from toilet paper to
medicines to vegetables, jailing owners of closed factories, jailing
bakers who make croissants or brownies instead of bread, accusing
Twitter of attacking his government, one of the highest murder rates
in the world, and an inflation rate of 33% per MONTH, forcing many
people to forage for food in garbage cans.

Now Maduro is announcing a "rabbit plan" to help out starving
Venezuelans. He announced on state television, "For animal protein,
which is such an important issue, a 'rabbit plan' has been approved
because rabbits also breed like rabbits."

However, the rabbit plan faced an early setback. Freddy Bernal, the
head of Maduro's food program, distributed baby rabbits to families in
15 communities, as a pilot project.

However, instead of eating the rabbits, people kept them as pets.
According to Maduro, "When he came back, to his surprise he found
people had put little bows on their rabbits and were keeping them as
pets, it was an early setback to Plan Rabbit."

Bernal is telling Venezuelans to get over their love of rabbits.
People need to understand "that the rabbit is not a pet, but two and a
half kilos of meat with high protein and no cholesterol put on the
table of Venezuelans." BBC and
Daily Mail (London) and VOA

Related Articles

KEYS: Generational Dynamics, Venezuela, Nicolás Maduro Moros, Hugo Chávez,
Petróleos de Venezuela, S.A., PDVSA, Fitch Rating, Freddy Bernal,
Mark Walker, Millstein & Co, Richard Cooper, Cleary Gottlieb

Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal

John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum: http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe
Reply
(09-15-2017, 10:28 PM)
Quote: John J. Xenakis Wrote: *** 16-Sep-17 World View -- What you should do about the huge Equifax data breach

This morning's key headlines from GenerationalDynamics.com
  • The huge Equifax data breach puts makes many people vulnerable to identity theft
  • Steps you should consider taking to protect yourself
  • Equifax and the rise of Generation-X
  • Release of DOJ memo reveals massive criminal fraud by JP Morgan in financial crisis

<snip>

For the protection of your computer, you should make sure that you
have anti-virus and anti-malware software installed, and that it's up
to date.

For protection from identity theft, you might consider getting a
"credit lock" or "credit freeze."  This is a service offered by each
of the three credit reporting agencies, Equifax, TransUnion and
Experian, for about $10 per year each.  Equifax is waiving its fee for
one year, but you'll still have to pay the others.  This service
prevents someone from getting your credit report without your
permission, blocking them from taking out a loan in your name.  It's a
pain in the neck to administer, but you may consider it worth the
trouble.

The following are links to articles that provide additional
information on the above and other steps to protect yourself: Federal Trade Commission and CBS News and NPR and CNBC and Engadget

 

1. I took the credit freeze with all three stooge credit bureaus.  OK, Equifax didn't patch a known Apache but until , uh a lot later than the announcement.  Then a bunch of bungled responses after that. So, are we sure the C suites are all GenXers?  Howsabout outsourcing.  Did Equifax use cheap H1-B replacers of Americans?  I think Neo-liberalism is the main culprit.  All in for because profits. Use money and loans to do stock buybacks, baby.

2.Credit freeze = you are no longer the product for these idiots.  I deserve the right to copyright my identity bits.

Quote:****
**** Equifax and the rise of Generation-X
****


As I wrote above, Equifax obviously didn't really care much about
network security.  In my experience, Gen-Xers ignore warnings about
things like security if the warnings come from a Boomer, of whom many
Gen-Xers are often contemptuous.



Equifax learned about the hack on July 29, but didn't inform the
public for several weeks.  Two days later, on August 1, three Equifax
executives sold $1.8 million worth of shares, allegedly to avoid
losing money from the stock price falling when the breach was made
public.  Equifax claims that they were going to sell the shares
anyway, and didn't know about the breach.

Yes a clusterfuck, but wrt Xer's sources please.



<snip>

Quote:The 2010 article that I wrote was about Citibank, and it proved
mathematically that Citibank must have committed exactly this kind of
criminal fraud.  The memo about JP Morgan shows that the Obama Justice
Department was fully aware of this criminal fraud, and was committed
to using the Justice Department to cover up the criminal fraud in
return for billions of dollars in payments and contributions.

This week there's a lot of stuff coming out about the Obama
administration, such as Susan Rice's illegal unmasking of political
opponents, confirmation that the Lois Lerner's IRS illegally targeted
political opponents.  I'm a pretty cynical person.  I look upon this
as happening because the Obama administration had a Generation-X
culture, with little regard for the law or common sense.  Let's hope
that the Boomer culture of the Trump administration does better.
Vanity Fair

[quote]


I have a different model that explains this without any particular generation.  It goes like this John.
Congress + Potus = money whores and the Johns are Corporate America. Corporate America pays for its "tricks" by donating to Congress + Potus campaigns or weird stuff like Clinton Foundation.  

And... because Citizen's United decision + widespread pandemic of Neoliberal Virus.


Neoliberal Virus.  Recently discovered mutation in the rabies virus. Said virus infects only humans and like its predecessor the rabies virus, it goes to the brain. Instead of death, said virus turns its victims into zombies that walk around saying Ayn Rand is God, all things including allowing nation states being liable for mucking up profits is good policy, #profitsmatter, and stutter "lower taxes, lower regulation" over and over again.






KEYS: Generational Dynamics, Equifax, TransUnion, Experian,
Spear Phishing, Healthcare.gov, Obamacare, Generation-X,
JPMorgan Chase, Jamie Dimon, Citibank

+ money whores,Johns,Corporate America,Neoliberal Virus,rabies,taxes,regulation,NeoLiberalism,#profitsmatter
---Value Added Cool
Reply
(09-20-2017, 10:04 PM)John J. Xenakis Wrote: *** 21-Sep-17 World View -- With Trump's sanctions in place, Venezuela expected to go bankrupt soon

This morning's key headlines from GenerationalDynamics.com
  • With Trump's sanctions in place, Venezuela expected to go bankrupt soon
  • Analyst advises Venezuela on keeping its assets safe from creditors
  • Maduro tells Venezuelans to breed and eat rabbits

****
**** With Trump's sanctions in place, Venezuela expected to go bankrupt soon
****


[Image: g170920b.jpg]
A member of the national guard fires his shotgun during clashes in Caracas, Venezuela, in July (Getty)

An economic analyst is advising Venezuela's government on ways to move
Venezuela's assets out of reach of American and other international
courts, if Venezuela defaults on its national bond payments, effective
declaring national bankruptcy....

Regrettable whats happening in venuzuela, particularly the unlikeliness of the maduro government adopting sensible economic and social policies. However I criticizes the ideological argument that the article turned into particularly the implied argument you advanced when mentioning other regions such as syria and burma: Those arguments are another manifestation of typical boomer selfishness. Why can't boomers acknowledge the assad regime as syria's legitimate government. Regarding Burma/Myanmar there is the same thing; the ingrained refusal to acknowledge that the Burmese government and the tatmadaw are the legitimate authorities in those countries. The selfish Boomer deliberately conflates "democracy" with "human rights" tyranny.

This effects relations with and between the US and other countries as well. Note that Chinese hostility to "democracy" has far more to do with attempts to force "human rights" reforms on China than any opposition to "democracy itself"; chinese conflicts with India for example have to do with territory and disputes over territory than any ideological opposition to "democracy" in india. Russia also has "democracy" and yet their policies are not dictated by "human rights" nonsense. As you mentioned in earlier posts a few days ago that India has sided with myanmar. Note that China too according reports has also entered the Burmese diplomatic fray over the Rohingyas, the Chinese too have announced they are siding with the Burmese government. So BOTH India and China have agreed that the strife in Burma is a purely internal matter for Burma. Why then is the US and europe constantly bringing up the Rohingya issue at the UN? This is just another example of baby boomers SELFISHNESS.

Please reply to this post JohnX. Also JohnX please reply to my earlier post made on September 19.
Reply
I'm not your servant, and just because you demand that I respond to
your moronic repetitive rants doesn't mean that I have any obligation
to do so. Whether I respond to something depends on whether I'm in
the mood, whether I have time, and whether the subject is interesting
to me.

Since you mentioned Burma, I'll post a response that I gave to a
question by another web site reader on my article on Burma's Buddhists
committing genocide and ethnic cleansing on the Rohingyas about
whether Islam is a "religion of peace."

From the point of view of Generational Dynamics, Islam is NOT a
religion of peace. In fact, there's no such thing as a religion of
peace. In fact, no religion would exist for long as a "religion of
peace," since its population would soon be exterminated by people of
other religions who do NOT follow "religion of peace" policies.

Let's take Buddhism as an example. Many commenters seem to believe
that Buddhism is a "religion of peace." And yet, the Buddhist society
of the Khmer Rouge in Cambodia, led by Pol Pot, perpetrated one of the
three or four top mass genocides of the 20th century, comparable to
the huge Christian genocides in Russia and Germany in the two world
wars, or the huge Muslim genocides in the Mideast coming out of the
collapse of the Ottoman empire, or the huge African genocides in the
60s and 70s, or the huge Chinese genocides in the 40s and 50s.
Genocide and sex are driven by DNA, not by religion, and all religions
have the same DNA.

The Buddhist Cambodian killing fields genocide, 1975-79, killed
something like 1.7 to well over 2 million people, out of a population
of 8 million. These millions of people were the subject of almost
unimaginable atrocities, including torture and rape.

In fact, as I now look more closely at the Buddhist Cambodian killing
fields genocide, it seems more and more apparent to me that the
Buddhists in Burma may well be purposely imitating some of the
techniques of their Buddhist cousins in the Khmer Rouge. This would
be an example of one group of genocidal Buddhists learning genocide
from another group of genocidal Buddhists.

From the point of view of Generational Dynamics, Buddhism is a
"religion of war," just like Islam and every other religion. No
"religion of peace" would survive more than a few decades, if it
weren't willing to become a "religion of war."
Reply
(Yesterday, 06:50 PM)John J. Xenakis Wrote: I'm not your servant, and just because you demand that I respond to
your moronic repetitive rants doesn't mean that I have any obligation
to do so.  Whether I respond to something depends on whether I'm in
the mood, whether I have time, and whether the subject is interesting
to me.

Since you mentioned Burma, I'll post a response that I gave to a
question by another web site reader on my article on Burma's Buddhists
committing genocide and ethnic cleansing on the Rohingyas about
whether Islam is a "religion of peace."

From the point of view of Generational Dynamics, Islam is NOT a
religion of peace.  In fact, there's no such thing as a religion of
peace.  In fact, no religion would exist for long as a "religion of
peace," since its population would soon be exterminated by people of
other religions who do NOT follow "religion of peace" policies.

Let's take Buddhism as an example.  Many commenters seem to believe
that Buddhism is a "religion of peace."  And yet, the Buddhist society
of the Khmer Rouge in Cambodia, led by Pol Pot, perpetrated one of the
three or four top mass genocides of the 20th century, comparable to
the huge Christian genocides in Russia and Germany in the two world
wars, or the huge Muslim genocides in the Mideast coming out of the
collapse of the Ottoman empire, or the huge African genocides in the
60s and 70s, or the huge Chinese genocides in the 40s and 50s.
Genocide and sex are driven by DNA, not by religion, and all religions
have the same DNA.

The Buddhist Cambodian killing fields genocide, 1975-79, killed
something like 1.7 to well over 2 million people, out of a population
of 8 million.  These millions of people were the subject of almost
unimaginable atrocities, including torture and rape.

In fact, as I now look more closely at the Buddhist Cambodian killing
fields genocide, it seems more and more apparent to me that the
Buddhists in Burma may well be purposely imitating some of the
techniques of their Buddhist cousins in the Khmer Rouge.  This would
be an example of one group of genocidal Buddhists learning genocide
from another group of genocidal Buddhists.

From the point of view of Generational Dynamics, Buddhism is a
"religion of war," just like Islam and every other religion.  No
"religion of peace" would survive more than a few decades, if it
weren't willing to become a "religion of war."

JohnX, I'm not referring to the genocide in Burma itself and the dynamics that led to that. I'm referring to the international response to the genocide by various countries and the dynamics of those responses. The Boomers in the west have adopted a political line that is biased in favor toward the Rohingyas and Muslim separatists and biased against the Myanmar government. Both India and now China have adopted more sensible policies and well rounded policies regarding the conflict in Burma. Neither India or China are blaming everything on the Burmese government, both countries have policies that are willing to acknowledge that both sides actions have lead to the current bloodshed. I am criticizing the reaction of the boomber-dominated western governments which is basically to blame everything on the Burmese government and tatmadaw and claims that the guilt of the conflict rests entirely with those entities; in short the boomer political line basically says that the Rohingya separatists have done nothing wrong.
Reply
*** 22-Sep-17 World View -- Trump's North Korea sanctions stop short of military blockade

This morning's key headlines from GenerationalDynamics.com
  • Trump imposes unilateral financial sanctions on North Korea
  • Sanctions fall far short of military blockade first proposed
  • North Korea threatens a 'Pacific Ocean nuclear test'

****
**** Trump imposes unilateral financial sanctions on North Korea
****


[Image: g170921b.jpg]
Kim Jong-un in a Japanese news broadcast being broadcast on an outdoor video screen in Tokyo. (AP)

President Donald Trump on Thursday issued an executive order imposing
a new round of sanctions on North Korea. The new sanctions were
approved by the UN Security Council on Monday of last week, and
attempt to leverage the power of the US financial system. On the same
day, the European Union reached agreement to ban EU investment in
North Korea.

To my knowledge, no one seriously believes that these new sanctions
will have any major effect on North Korea, any more than previous
sanctions have, or that they will motivate the North Koreans to end
its nuclear missile development program.

President Trump's sanctions can apply to persons in any country
outside of North Korea. The executive order calls for sanctions on
persons involved in:
  • Industries: The construction, energy, financial services,
    fishing, information technology, manufacturing, medical, mining,
    textiles, or transportation industries in North Korea;

  • Ports: Ownership, control, or operation of any port in North
    Korea, including any seaport, airport, or land port of entry;

  • Imports/Exports: at least one significant importation from or
    exportation to North Korea of any goods, services, or
    technology.

Sanctions may be imposed on any foreign financial institution in any
country, if the institution conducts or facilitates trade with North
Korea. The White House says that "Foreign financial institutions must
choose between doing business with the United States or facilitating
trade with North Korea or its designated supporters." Reuters and White House and Reuters

****
**** Sanctions fall far short of military blockade first proposed
****


According to the White House:

<QUOTE>"The [Executive Order] directly targets North Korea’s
shipping and trade networks and issues a 180-day ban on vessels
and aircraft that have visited North Korea from visiting the
United States. This ban also targets vessels that have engaged in
a ship-to-ship transfer with a vessel that has visited North Korea
within 180 days. North Korea is dependent on its shipping networks
to facilitate international trade."<END QUOTE>


Ships and aircraft that have visited or traded with North Korea will
be banned from entering the United States for 180 days.

However, this is far short of the kinds of sanctions that Trump had
wanted to impose. According to the draft resolution that the US
submitted to the Security Council two weeks ago, any U.N. member state
would be authorized to inspect North Korean ships suspected of
carrying banned cargo and to use "all necessary measures to carry out
such inspections."

The banned cargo would include any "crude oil, condensates, refined
petroleum products, and natural gas liquids," as well as textiles. The
draft resolution called for an end to the hiring of North Korean
nationals, which provide North Korea with hard currency.

This would be an effective trade blockade on North Korea. Although
any nation would be authorized to carry out the forced inspections, as
a practical matter it's expected that only the US would actually do
so. If a North Korean ship resisted the inspection, then there might
be an exchange of fire that might escalate into war, putting Seoul,
South Korea, into great risk.

It was those fears of escalation that caused Russia and China to
threaten to veto the resolution. In order to overcome the objections,
the US agreed to water down the resolution to the point where it will
have no effect at all on the North Korean regime.

Earlier this week, Secretary of Defense Jim Mattis was asked whether
there were any military options the United States could take with
North Korea that would not put Seoul at grave risk. Mattis said: “Yes
there are. But I will not go into details.”

Guardian (London, 11-Sep) and Bloomberg (13-Sep) and Reuters (18-Sep) and Washington Examiner

****
**** North Korea threatens a 'Pacific Ocean nuclear test'
****


In a statement a couple of days ago, North Korea's child dictator Kim
Jong-un threatened the "highest level of hard-line countermeasure in
history" against the United States.

North Korea's Foreign Minister Ri Yong Ho was asked on Thursday what
that meant, and he said,

<QUOTE>"It could be the most powerful detonation of an H-bomb
in the Pacific. We have no idea about what actions could be taken
as it will be ordered by leader Kim Jong-un."<END QUOTE>


This action, if taken, would be just as much an escalation towards war
that the proposed military blockade of North Korea would be. The
hydrogen explosion would threaten shipping and planes flying overhead,
and would release a great deal of radiation and cause environmental
damage.

So the United States and West have two possible paths forward -- a
"peaceful" diplomatic approach (sanctions), amounting to appeasement,
and a confrontational approach (blockade). The appeasement could
trigger war from the North Korean side, while the blockade could
trigger war from the American side.

Either action leads to the same outcome. For almost 15 years, I've
been writing Generational Dynamics analyses that predict that the
world is headed for World War III, pitting the US, the West, India,
Russia and Iran versus China, Pakistan and the Sunni Muslim countries.

The World War could be predicted, but the timing and the exact
scenario leading to that war could not be predicted. But now we seem
to be rushing toward war over North Korea, and neither Russia nor
China seem willing to take steps to prevent it.

As an additional note, there is a report that Steve Bannon had a
secret meeting with a senior Chinese Communist Party official in
Beijing last week. Bannon is an expert on world history, and is also
an expert on Generational Dynamics. He was recently ousted from the
White House as Donald Trump's chief strategy, but according to
reports, he still has the president's ear. Bannon fully understands
that the world is headed for a world war. Perhaps he hopes that by
meeting with the Chinese, he can find a way to prevent it, although
Generational Dynamics says that it can't be prevented. Yonhap (South Korea) and Sky News (Australia) and Washington Examiner

Related Articles


KEYS: Generational Dynamics, North Korea, Kim Jong-un, Russia, China,
Jim Mattis, Ri Yong Ho, Steve Bannon

Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal

John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum: http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe
Reply
Globalist neoliberalism will fall. Xers and Millies will revitalize America and the rest of the west after the fall of neo-liberal globalism.
Reply
Honestly, I hope Kim does something that can outrage people so we can take care of him.
Reply
(2 hours ago)Warren Dew Wrote: Honestly, I hope Kim does something that can outrage people so we can take care of him.

Famous last words.
Reply


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