Free Republic

More than 25 years after the Berlin Wall’s fall, Russian lawmakers are mulling a proposal to condemn West Germany’s 1990 “annexation” of East Germany as Moscow’s answer to Western denunciation of its seizure of Crimea. Sergei Naryshkin, speaker of Russian parliament’s lower house, on Wednesday ordered legislators to consider an appeal from a Communist Party deputy to denounce the reunification of Germany as an illegal land grab of East Germany by its western neighbor. The collapse of Socialist rule in East Germany—officially known as the German Democratic Republic (GDR)—heralded the end of the Cold War, and was met with jubilation...

he new far-left government in Greece dropped a bombshell on its first day in office by abjuring an EU statement on Russia. It said in a press communique on Tuesday (27 January): “the aforementioned statement was released without the prescribed procedure to obtain consent by the member states and particularly without ensuring the consent of Greece”. “In this context, it is underlined that Greece does not consent to this statement”. It added that its new PM, Alexis Tsipras, expressed “discontent” in a phone call to EU foreign relations chief Federica Mogherini. The EU statement on Russia, published on Tuesday morning,...

President Obama should think before bowing to Saudi Arabia's new king in his Tuesday visit. King Salman has a history of funding al-Qaida, and his son has been accused of knowing in advance about the 9/11 attacks. When it comes to jihadism, Salman bin Abdulaziz al Saud is more of a hardliner than his older brother, King Abdullah, who died last week of a lung infection. As such, any commitment he makes to helping the U.S. destroy al-Qaida and Islamic State terrorists should be viewed with great suspicion. The 79-year-old Salman once ran a Saudi charity tied to al-Qaida and...

Executives at a Bermudan firm funneling money to U.S. environmentalists run investment funds with Russian tycoons. A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle. One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president...

Russia has been downgraded to junk status for the first time in a decade due to the collapsing oil price, the tumbling value of the rouble and sanctions imposed because of its intervention in Ukraine. Ratings agency Standard & Poor’s said the downgrade was caused by the country’s reduced flexibility to cut interest rates and a weakening of the financial system. The ratings agency said the Central Bank of Russia “faces increasingly difficult monetary policy decisions while also trying to support sustainable GDP growth”. “These challenges result from the inflationary effects of exchange-rate depreciation and sanctions from the west as...

Despite all the fear-mongering by Nea Demokratia (ND), Syriza's victory over the incumbent is dramatically larger than expected (exit polls indicate a potential 12 point margin vs 7 point spreads in the run-up). However, as JPMorgan details, the fear-mongery was very evident in bank deposit runs as proxied outflows surge EUR8 billion last week - more than all of December and the rest of January combined...Via JPMorgan Flows & LiquidityGreek deposit outflows rise sharply this week The monthly Bank of Greece balance sheet data for the month of December revealed a significant increase in Greek bank ECB borrowing which...

Germany would be prepared to negotiate a free-trade agreement between the European Union and Russia as a way out of the deadlocked Ukraine conflict, Chancellor Angela Merkel said on Thursday. Merkel told the World Economic Forum in Davos that Germany was “ready” to open talks about “possibilities for cooperating in a collective trade area”, the Süddeutsche Zeitung reported. But she said that a precondition for the plan, suggested by Russian President Vladimir Putin several years ago but ignored by European leaders, would be a comprehensive peace agreement in Ukraine. …

I can't keep up with it. Under Janet Napolitano - and in the MSM then - an act of terrorism became known as (or redefined as) "man-caused disasters." Before that, under the Bush administration, it was defined as an act of "terrorism." In the MSM, now, and to a large degree some Ukrainians are called terrorists. Sometimes they are called anti-Kiev protesters, or sometimes anti-government protesters. Should the MSM call Right Sector and others in Ukraine "terrorists"? One hardly ever even sees the word "fascist." But when you look at the top four news articles cached on Yahoo.com, when entering...

BNSF Railway more than tripled the number of trains it moved through Nebraska with a million gallons of oil or more aboard late last year and has changed its route to bypass Lincoln, at least for some trains. Reports filed with the Nebraska Emergency Management Agency show that late last year BNSF expanded the number of oil trains it was required to report from three per week in July to a range of seven to 14 per week. Railroads must report trains that carry at least a million gallons of oil -- about 35 tank cars -- from the Bakken...

Despite an oversupply of crude oil that has halved trading prices and led the U.S. to consider lifting a 40-year-ban on crude exports, completing the northern leg of the Keystone XL pipeline remains a priority, U.S. Sen. John Cornyn said Friday in Beaumont. “We know that as global demand goes up, prices will go up,” Cornyn, R-Texas, said. “I think we ought to take advantage of the opportunity we’ve been given because great innovative drilling techniques devised in the United States and the great natural resources we have … help grow our economy and help keep America safe.” Cornyn delivered...

More than 40,000 upstream oil and gas jobs in Texas could be lost as energy sector activity here continues to slow, said Karr Ingham, the economist who compiles the monthly Texas Petro Index tracking the industry’s economic indicators. The latest data point that spells trouble for the industry: data released Friday indicating that that the number of rigs operating in the U.S. was down 74 this week, the rig count’s biggest one-week decline in more than six years. “We’re now at the point where there’s likely to be some damage inflicted on the Texas economy,” Ingham said. “I’d sure be...

If you think that Vladimir Putin would be dissuaded from his territorial ambitions by a few billionaires more or less being punished in Moscow, then you probably deserve to condemned to a Purgatory that resembles Obama’s White House. Despite assurances that Russia was on the ropes via economic sanctions imposed by the West after the Bear stirred up ethnic conflict in Ukraine, there are no signs but that Russia under Putin is restless. And hungry. New fighting has erupted near Donetsk with Russian supported separatists firing shells resulting in the death of 11 people. Since so-called “peace-talks” are underway between...

For years, it was thought that Israel had destroyed Syria’s nuclear weapons capability with its 2007 raid on the Kibar complex. Not so. New intelligence suggests that Bashar al-Assad is still trying to built the bomb. And he may be getting help from North Korea and Iran. […] Analysts say that the Syrian atomic weapon program has continued in a secret, underground location. According to information they have obtained, approximately 8,000 fuel rods are stored there. Furthermore, a new reactor or an enrichment facility has very likely been built at the site—a development of incalculable geopolitical consequences. Some of the...

KIEV, Jan 18 (Reuters) - Ukrainian troops launched a "mass operation" overnight, retaking almost all the territory of Donetsk airport in eastern Ukraine lost to separatists in recent weeks, even as thousands gathered in Kiev for a state-sponsored peace march on Sunday. The army's offensive at the airport brought the fighting close to the big industrial city of Donetsk itself, centre of a pro-Russian separatist rebellion. Residents reported intensified outgoing shelling including from residential areas in central parts of the separatist-held city. With attempts to restart peace talks stalled, pro-Russian rebels have stepped up attacks in the past week and...

On Thursday, January 15, the European Parliament adopted a resolution on Ukraine. The document has been very tough and uncompromising with regard to Russia, even with the traditional support of Ukraine by the European Parliament. It refers to the European Parliament the EU Council with a proposal to not only maintain but also to strengthen the sanctions, and the member states - to provide Ukraine with lethal weapons. The document also contains a number of other very important point. Although this decision is not legally binding, it will be a significant element of pressure on other governments of the European...

Socialism: Venezuelans are being arrested for posting Internet photos of shortages in stores. So let's get this straight: Murder and mayhem are de facto legal in that crime pit, but posting evidence of socialism's failure merits jailing. As socialism plays out to its logical conclusion in Venezuela, the specters of long lines, rationing, troop enforcers, bizarre edicts and desperate statements are now the order of the day. Not only have more than a dozen Venezuelans been arrested for posting photographs of empty store shelves on social media, three governors have responded to long lines by — prohibiting them; ordering the...

The Swiss central bank plans to charge depositors a 'negative' interest rate of -0.25 per cent to discourage spooked investors from using it to shelter their cash. Money has flooded into Switzerland as market turbulence caused by the Russian rouble collapse and oil price slide has prompted a desperate search for safe havens in recent days. The Swiss National Bank said it would slash its interest rate on balances of over 10million Swiss francs from January 22 - effectively imposing a charge on depositors wanting to hold francs in a bid to keep its currency artificially weak against the euro.

The drop in the price of oil will cost 9,000 workers at Schlumberger Ltd. (SLB) their jobs. The company disclosed: In response to lower commodity pricing and anticipated lower exploration and production spending in 2015, Schlumberger decided to reduce its overall headcount to better align with anticipated activity levels for 2015. Schlumberger recorded a $296 million charge associated with a headcount reduction of approximately 9,000. Unfortunately for the workers, the oil services company had good reason. Although fourth-quarter revenue rose 6% to $12.5 billion and operating income by 7% to $1.9 billion, the company believes the situation has deteriorated:

The joke’s on them. Don’t the Saudis know that massive border fences do nothing to enhance domestic security and are, in fact, counterproductive? Well, I guess they’ll find out soon enough. According to reports, the Saudi Kingdom is fed up with defending against ISIS raiding parties that routinely cross over the Iraqi border. In order to stave off these assaults, the Saudis are going to build a massive, 600-mile long border fence across the length of the country’s border with Iraq. But that’s not all. The fence will be double layered with a concertina wire barrier in no man’s...

With the Islamic State terrorist group in control of large swathes of Iraq, Saudi Arabia has decided to build a “Great Wall” that spans 600 miles. Construction of the security apparatus began in September and will include five layers of fencing, watch towers and night-vision and radar cameras