Sunday, 3 June 2018

Weekend Update 03/06/2018 G-7 Meeting Bans Competition!


People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices…

Adam Smith. The Wealth of Nations 1776.

How unlucky can the world get!

A G-7 meeting this week in Canada that’s restricting all malodourous competition, and a meeting this week in Turin Italy, of the secretive Lords of the Universe, the equally malodourous secretive Bilderberg agents. No word yet if the G-7 have also banned fans and mirrors.

But are the Bilderbergers really going to slum it in a 4 star hotel in Turin? Fake news perhaps to mislead the hoi poloi? The 5 star Venice Marriott looks more likely.

Picking trade war winners and losers? How to slap down the new governments in Italy and Spain? How to stop Brexit?  How to block Russia and China?  There’s plenty of manure to go round.

01 June 2018 - 23H17

Canada farmers asked to skip the manure at G7

OTTAWA (AFP) -  Canadian farmers in the Quebec region of Charlevoix, where G7 leaders are scheduled to meet next week, have been asked to avoid spreading manure on their fields ahead of the summit.
The aim is to make a good impression -- in order to boost tourism -- on Canada's G7 guests and not expose the leaders of Britain, France, Germany, Italy, Japan and the United States to unpleasant odors.
But local lawmakers are making a stink on behalf of farmers.
"We ask for your cooperation so that the stay of our guests on our province is as pleasant as possible," said a letter sent by Quebec's agriculture ministry to the local farming association, seen by AFP Friday.
A long winter meant farmers could not access their fields until last week -- later than usual -- to start preparing the ground for seeding.
They are now being asked not to spread manure from June 1 to 9.
"Asking farmers to stop their operations puts their crops at risks," Andre Villeneuve, a member of a Quebec opposition party, told the provincial legislature on Thursday.
Quebec's agriculture minister, Laurent Lessard, shot back that the G7 presented a tremendous opportunity to showcase the region to the leaders and journalists from around the world covering the June 8-9 summit.
It's "an extraordinary opportunity to present Quebec products," he said.

Canada's 2018
G7 Presidency

Countdown to the 2018 G7 Summit


Meanwhile at the acrimonious annual G-7 finance ministers meeting that precedes G-7 “great leaders” meeting, it was six against one in the punch up. How they must be laughing in Beijing and Moscow. 

G-7 Finance Chiefs Condemn Trump Tariffs as Allies Rebel

By Andrew Mayeda and Yuko Takeo
Updated on 2 June 2018, 20:59 GMT+1
Group of Seven finance chiefs issued a rare rebuke of a member nation, claiming U.S. trade actions could undermine global economic confidence and threaten the effectiveness of the Western alliance.

The statement singled out the Americans, the largest and most important member of the G-7, saying “decisive action” is needed at a leaders summit next week in Quebec. The ministers requested that Treasury Secretary Steven Mnuchin “communicate their unanimous concern and disappointment.”

“The international community is faced with significant economic and security issues, which are best addressed through a united front from G-7 countries,” Canadian Finance Minister Bill Morneau said in a “chair’s summary” of the meeting in Whistler, British Columbia. “Members continue to make progress on behalf of our citizens, but recognize that this collaboration and cooperation has been put at risk by trade actions against other members.”

Morneau’s comments came after an acrimonious three days of talks -- with Mnuchin on the receiving end of much of the frustration -- in which America’s allies protested against President Donald Trump’s decision to impose tariffs on steel and aluminum from the European Union, Canada and Mexico. With the trade dispute triggering one of the biggest crises in the G-7 since the group’s formation in the 1970s, frictions are poised to spill over into next week’s meetings in Charlevoix, Quebec that Trump will attend. The group includes Canada, France, Italy, Germany, the U.K., Japan

 “It has been a tense and tough G-7. I would say it has been far more a G-6 plus one than a G-7,” said French Finance Minister Bruno Le Maire. The EU has threatened to retaliate with duties on everything from American motorcycles to bourbon.

----At his closing press conference, Mnuchin said that he’s already conveyed the G-7 message to Trump, who he said “has been very clear in wanting to address trade issues.”
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And at the real meeting that counts this week, who is fixing what and why? Who gains this year, who loses?

Bilderberg 2018 To Meet In Turin, Italy? A Surprise Announcement

UPDATE: The Bilderberg Media Service responded on Feb. 13 with the following statement: “Kindly note that we do not confirm the date and venue of this year’s Bilderberg meeting at this stage. As in previous years, we will publish a press release including the date and location, the discussed topics as well as a list of participants on our website in due course before the next meeting.”
Months ahead of schedule, a location and date for the 2018 Bilderberg Conference have been announced in an apparent leak from an unexpected source — the nominally pro-western government of Serbia. The timing of the announcement, however, coincides with a moment in which western institutions are taking renewed interest in the Balkans.
Following Serbian Prime Minister Ana Brnabic’s appearance last month at the World Economic Forum (WEF) in Davos, Switzerland, Belgrade announced Brnabic had been invited to attend the 2018 Bilderberg Conference. The conference is scheduled for June 7-10 in Turin, Italy, according to a Serbian government press release.
The Bilderberg Group is an organization of primarily European and North American elites from business and politics. Bilderberg conferences take place annually at hotels or resorts in Europe or North America, often in early June. The meetings are closed to the public, and members of the press who are invited to attend do not report on the conferences.
Critics of Bilderberg have alleged the group secretly influences government decisions and even planned the creation of the European Union and the euro currency. Additionally, the Bilderberg Group has a reputation among some of its critics as a body of kingmakers that catapults certain conference attendees up the political ladders of their respective countries.
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The meetings are held under the Chatham House Rule, which states that participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s) nor of any other participant may be revealed. Thanks to the private nature of the meeting, the participants are not bound by the conventions of their office or by pre-agreed positions. As such, they can take time to listen, reflect and gather insights. There is no detailed agenda, no resolutions are proposed, no votes are taken, and no policy statements are issued.

The 2018 Bilderberg Meeting will take place from 7 - 10 June in Turin, Italy. A press release including the list of topics and participants will be issued a few days before the Meeting.

Bilderberg Group Reveals 2018 Meeting Date, Location

----The 2018 meeting will represent the 66th time the Bilderbergers have gathered. The group first met in 1954 at the Hotel De Bilderberg in the Netherlands—hence its name—with the help of CIA funds that were floated to nurture the early European Movement. The movement planted the seeds for the European Union superstate, according to Richard Aldrich, professor of international security at the University of Warwick in England.
The Bilderberg Group meets annually at the world’s most ritzy hotels and resorts, surrounded by an armada of armed private security and local police, for a closed-door, three-day forum involving about 140 top corporate titans, technology gurus, select royalty, central bankers, former and current intelligence officials, think-tank fellows, and select reporters and editors who leave their ethics and notebooks at the gate. The sitting head of NATO attends every year. Most attendees come from Europe and North America.
The group is managed by a 31-member steering committee that currently includes nine Americans, including Alphabet Inc. executive chairman Eric Schmidt, NEOM CEO Klaus Kleinfeld, Palantir Technologies CEO Alex Karp, and Marie-Josée Kravis, a Hudson Institute fellow and president of the American Friends of Bilderberg—which raises funds for the group’s meetings but claims to be a type of charity in its Form 990 tax filings—even though its “charitable” activities are reported as addressing issues surrounding the transatlantic alliance.
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The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.

Adam Smith. The Wealth of Nations 1776.

The monthly Coppock Indicators finished May.

DJIA: 24,416 +201 Down. NASDAQ: 7,442 +276 Down. SP500: 2,705 +180 Down.
All three slow indicators moved down in March and April and continued down in May. For some a new bear signal, for others a take profits and get back to cash signal. 

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