Kensington Review

 6July 2022

 

Cogito Ergo Non Serviam

97

Latest Commentary:

Sunak, Javid Quit British Cabinet -- Yesterday, Prime Minister Boris Johnson received the resignations of both his Chancellor of the Exchequer Rishi Sunak and Health Secretary Sajid Javid. The two came just minutes apart, and as coincidence requires a lot of planning, it is clear that they have coordinated their moves. Both want the keys to Number 10 Downing Street for himself. Whether they have delivered a fatal blow has yet to be seen. A cabinet meeting later today may include a formal call for Mr. Johnson to resign. However, it is also possible that the PM will last a couple more weeks when the House will rise for August holidays. For now, the Prime Minister is on deathwatch. [6 July]

Russians Control Luhansk -- The City of Lysychansk in eastern Ukraine was the last city of any size in the oblast (province) of Luhansk controled by Ukraine. Luhansk and next-door Donetsk are the two parts of Ukraine that Russia has been trying to take since 2014. With the fall of Lysychansk over the week-end, it appears that Russia controls the oblast, and Donetsk is likely to go the same way soon. That is bad for Ukraine. Losing territory, battles and above all troops is never a positive. At the same time, this is not a catastrophe for Ukraine. Their ability to defeat Russia, however that might be defined, requires them to buy as much time as they can for western weapons to reach their troops. From that perspective, the fall of Luhansk took long enough for the loss to sting much less than it could have done. [5 July]

Fed Should Keep Crypto Out -- Crypto-currency is a marvelous scam. The whole point of it was to create a currency that did not depend on government support. It was supposed to take power away from central banks and give it to the participants in the market. However, there is nothing behind crypto except the faith that its holders (one cannot call them investors, as that implies prudence) have that there is someone out there willing to accept it when it comes time to make a transaction. It relies on the bigger fool idea; there is a bigger fool out there than the one holding it who will take it in lieu of actual money. With the latest crypto-crash, there is now a bill in Congress that would give crypto-companies access to the Federal Reserve system. So much for ideals. [4 July]

Scotland May Vote on Independence Again -- If the Scottish National Party has its way, Scotland will go to the polls October 19, 2023, to vote on whether to remain a part of the United Kingdom or become an independent state. The referendum needs the approval of the Parliament in Westminster to be perfectly legal, but the SNP is also appealing to the Supreme Court of the UK. If neither route pans out, First Minister Nicola Sturgeon has said the next election will be fought on the issue of independence, and if the SNP wins, she will declare independence. It would be best for Mr. Johnson in Number 10 to allow the vote. If it fails, the SNP is finished. [30 June]

Turkey Drops NATO Veto for Finland, Sweden -- NATO summits can be huge non-events. The leaders of the world\\\\\'s biggest military alliance sometimes turn up to meet for no other reason than that it was on the schedule. This week, the summit is very different. Finland and Sweden have asked to join the alliance, and Turkey was holding those requests up due to the Finns and the Swedes giving asylum to certain Kurdish activists whome Ankara calls terrorists. The three nations signed a joint declaration yesterday that effectively drops the Turkish objects in exchange for some help with extradition of wanted persons and an end to support for a Kurdish group that Ankara says is a terrorist organization. The settlement was inevitable; Turkish President Erdogan just needed a fig leaf. [29 June]

© Copyright 2022 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Ubuntu Linux

 

 

 

 

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