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Rumors on the rise that Rex Tillerson is next on the Trump chopping block (Video)

Is Rex on his way out?

Alex Christoforou

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North Korea’s recent test-launch of three short range ballistic missiles failed to provoke a militant reaction from Washington or Seoul.

South Korea said that the nature of the North Korean launches which used short range rather than medium or inter-continental ballistic missiles, is a sign that Pyongyang may be ready to engage in dialogue with other international powers.

The Duran reported that shortly after South Korea’s statement, US Secretary of State Rex Tillerson said the following…

“We do view it as a provocative act against the United States and our allies … We’re going to continue our peaceful pressure campaign, as I have described it, working with allies, working with China as well to see if we can bring the regime in Pyongyang to the negotiating table with a view to begin a dialogue on a different future for Korean peninsula and for North Korea”.

Via The Duran

While the US has yet to acknowledge its position on the joint Sino-Russian peace plan which calls for military de-escalation on both sides of the 38th parallel as well as direct talks between Pyongyang and Washington, Tillerson’s statement is at minimum, indicative of an approach to North Korea that refrains from overt military threats. Trump’s days of threatening “fire and fury” upon Pyongyang seem to be behind us as things gradually calm down.

In this sense, until Washington and Pyongyang speak directly, the conflict is best thought of as a stalemate where if anything Pyongyang has the upper hand due to China and Russia’s thorough opposition to war on their borders.

Here is Rex Tillerson’s full interview on Fox News Sunday with Chris Wallace, where North Korea policy is explained…

Via Zerohedge

And while North Korea was certainly on Tillerson’s agenda, what the media was focused on was Tillerson’s reported distancing from Trump’s remarks after the deadly Virginia protests, saying the president “speaks for himself.” Tillerson’s comment on “Fox News Sunday” follows Gary Cohn, the president’s chief economic adviser and the director of the National Economic Council, saying in a Financial Times interview published last week that the administration “can and must do better” in condemning hate groups.

In the exchange below, Chris Wallace asked Tillerson about Trump’s response to the racist carnage in Charlottesville. Tillerson replied: “I don’t believe anyone doubts the American people’s values or the commitment of the American government, or the government’s agencies to advancing those values and defending those values.”

Wallace asked the obvious follow-up question: “And the president’s values?”

“The president speaks for himself,” Tillerson said, leaving Wallace with a surprised look on his face.

The contradictory viewpoints between President and Secretary of State appear to be souring Trump’s opinion of Rex Tillerson.

Axios is reporting that Secretary of State, Rex Tillerson, may be the next top Trump administration official on his way out.

According to Axios“there’s a ticking problem with Rex Tillerson, and it’s growing louder by the day, citing officials inside and close to the White House.”

President Trump has been growing increasingly frustrated with his Secretary of State. One time recently, after Trump had returned from a meeting on Afghanistan, a source recalled Trump saying, “Rex just doesn’t get it, he’s totally establishment in his thinking.”

Trump is getting more and more fed up with Tillerson, who has still yet to staff his agency.”

Here is Tillerson criticism list that Axios keeps hearing from Trump insiders

  • Trump administration officials can’t get their heads around why he still doesn’t have political appointees in the top roles at the State Department. They know he’s reorganizing the agency, but can’t fathom why he’s allowed these crucial jobs to remain in the hands of staff whose diplomatic stature is diminished because they’re “acting” in the roles.
    • Tillerson’s spokesman R.C. Hammond told Axios it’s because “the system is busted. The Secretary sends over recommendations and they sit on the dock.”
  • Tillerson hasn’t put in the time to build goodwill with Washington’s foreign policy community or with the media.
  • Numerous reports that Tillerson has destroyed morale at State, empowering only the tiniest inner circle.
  • Tillerson contradicted the president’s response to the recent tensions over Qatar.
    • Trump attacked Qatar for funding terrorism “at a very high level”, and supported the Saudi-led blockade. Tillerson muddied Trump’s message, urging Qatar’s neighbors to ease up on the blockade and engage in “calm and thoughtful dialogue.”
    • Hammond’s response: “On Qatar, progress will be measured in months and we are seeing it.”
  • Tillerson argued against the White House’s financial sanctions against the dictatorial regime in Venezuela, according to sources close to the White House. These sources pointed to the influence on Tillerson of Tom Shannon, a top State careerist who is an expert on Latin America.
    • Sources close to the president view Shannon as a rogue force who, in their view, naively puts too much faith in diplomacy at the expense of hardline actions like sanctions.
    • Shannon’s recent meeting with Venezuela’s then-foreign minister — at the same time the WH was contemplating tough action against Venezuela — raised eyebrows among Republican hawks.
    • Hammond’s response: “Yes, diplomats do prefer diplomacy.”
  • Tillerson keeps recommending to Trump that he re-certify Iran’s compliance with the nuclear deal; whereas Trump has made clear he wants to cancel it.
    • Hammond’s response: “This admin inherited a lousy deal. It’s taking the circumstances created by the Deal and trying to build around it a policy that addresses all of the threats Iran offers the world.”
  • White House officials frequently vent about Tillerson’s Chief of Staff Margaret Peterlin. They say she’s difficult to work with and isolatesthe secretary from the information and contacts he needs to do his job well.
    • Hammond’s response: “It is Washington, you have to have your knives out for someone.”

Is Rex Tillerson the Trump administration official to be fired?

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EU and Japan ink free trade deal representing over 30% of global GDP

The free trade agreement represents a victory for free trade in the face of growing protectionism

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In a bid to preserve free trade and strengthen their trade partnership, the European Union and Japan have finished a free trade zone agreement that has been sitting in the pipeline for years.

The present global economic outlook provided the needed spur to action to get the ball rolling again and now it has finally reached the end zone and scored another point for free and open trade against the growing influence of protectionism, which has been creeping up with alarming rapidity and far reaching consequences in recent months.

Under the deal, Japan will scrap tariffs on some 94% of goods imported from Europe and the EU in turn is canning 99% of tariffs on Japanese goods.

Between the European Union and Japan, the trade deal impacts about 37% of the world’s GDP, making it one of the largest and impactful of such agreements.

The Japan Times reports:

Top European Union leaders and Prime Minister Shinzo Abe signed an economic partnership agreement Tuesday in Tokyo, a pact that will create a massive free trade zone accounting for 37 percent of the world’s trade by value.

European Council President Donald Tusk and European Commission President Jean-Claude Juncker hastily arranged their visit to Tokyo after Abe was forced to abruptly cancel plans to attend a July 11 signing ceremony in Brussels in the aftermath of flooding and mudslides in western Japan.

Japanese officials said the signing is particularly important to counter intensifying protectionism worldwide triggered by U.S. President Donald Trump.

Negotiations on the pact between Japan and the EU, which started in 2013, had stagnated for a time but regained momentum after Trump took office in January 2017.

“We are sending a clear message that we stand together against protectionism,” Tusk said at a joint news conference with Abe after they signed the agreement.

“The relationship between the EU and Japan has never been stronger. Geographically we are far apart, but politically and economically we could be hardly any closer,” Tusk said. “I’m proud today we are taking our strategic partnership to a new level.”

Tusk stressed that the EU and Japan are partners sharing the same basic values, such as liberal democracy, human rights and rule-based order.

Abe also emphasized the importance of free and fair trade.

“Right now, concerns are rising over protectionism all around the world. We are sending out a message emphasizing the importance of a trade system based on free and fair rules,” he said.

The pact will create a free trade bloc accounting for roughly 30 percent of the world’s gross domestic product. Japan and the EU hope to have the agreement, which still needs to be ratified by both parties, come into force by March.

Under the EPA, tariffs on about 99 percent of Japan’s exported goods to the EU will eventually be eliminated, while duties on 94 percent of EU’s exported items to Japan will be abolished, according to the Foreign Ministry.

The EPA will eliminate duties of 10 percent on Japan’s auto exports to the EU seven years after the pact takes effect. The current 15 percent duties on wine imports from the EU will be eliminated immediately, while those on cheese, pork and beef will be sharply cut.

In total, the EPA will push up domestic GDP by 1 percent, or ¥5 trillion a year, and create 290,000 new jobs nationwide, according to the government.

“The world is now facing raging waves of protectionism. So the signing ceremony at this time is particularly meaningful,” a senior Foreign Ministry official said earlier this month on condition of anonymity.

“The impact for Japan is big,” the official said.

Fukunari Kimura, an economics professor at Keio University, said the EU is now trying to accelerate the ratification process.

“This is a repercussion of President Trump’s policies. They will try to ratify it before Brexit in March of next year,” he said in an interview with The Japan Times last week.

But the deal has raised concerns among some domestic farmers, in particular those from Hokkaido, the country’s major dairy producer.

According to an estimate by the Hokkaido Prefectural Government, the EPA will cut national production in the agriculture, fishery and forestry industries by up to ¥114.3 billion a year, with Hokkaido accounting for 34 percent of the predicted losses.

“The sustainable development of the prefecture’s agriculture, forestry and fisheries industries is our top priority. We need to make efforts to raise our international competitiveness,” Hokkaido Gov. Harumi Takahashi said during a news conference July 10.

Japan and the EU had reached a basic agreement on the EPA in December.

Tokyo also led negotiations on the Trans-Pacific Partnership free trade pact after Trump withdrew the U.S. from the deal in January 2017.

In March, 11 countries including Japan signed the so-called TPP11, or a revised TPP pact that does not include the U.S.

“The Japan-EU EPA is another important step for Japan to strengthen its trade relationship with key trading partners, and demonstrate that trade liberalization is alive and well, even if the United States is taking a different stance,” wrote Wendy Cutler, a former acting deputy U.S. Trade Representative, in an email sent to The Japan Times last week.

“The EU deal also reduces Japanese dependence on the U.S. market and thus increases its leverage to resist unreasonable trade demands by the United States,” she wrote.

According to the Foreign Ministry, the EU, which accounts for 22 percent of the world’s GDP, was the destination for 11.4 percent of Japanese exports in 2016. In the same year, the figure for the U.S. was 20.2 percent and 17.7 percent for China.

In 2016, Japan’s exports to the EU totaled ¥8 trillion, while reciprocal trade was ¥8.2 trillion.

The deal provides tariff relief for both parties and can improve the quantity of trade between them, expand the economy and create many jobs. It also helps to further diversify their trade portfolios in order to mitigate the prospect of a single global trade partner wielding too much influence, which in turn provides a certain amount of cover from any adverse actions or demands from a single actor. In this way, current trade dependencies can be reduced and free and diversified trade is further bolstered.

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The man behind Ukraine coup is now turning Greece against Russia (Video)

The Duran – News in Review – Episode 57.

Alex Christoforou

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On July 11, Greece said it would expel two Russian diplomats and barred the entry of two others.

The Duran reported that the formal reason is alleged meddling in an attempt to foment opposition to the “historic” name deal between Athens and Skopje paving the way for Macedonia’s NATO membership. Moscow said it would respond in kind.

Nothing like this ever happened before. The relations between the two countries have traditionally been warm. This year Moscow and Athens mark the 190th anniversary of diplomatic relations and the 25th anniversary of the Treaty of Friendship and Cooperation between the Russian Federation and the Hellenic Republic. They have signed over 50 treaties and agreements.

Greek news daily, Kathimerini says the relationship started to gradually worsen behind the scenes about a couple of years ago. What happened back then? Geoffrey Pyatt assumed office as US Ambassador to Greece. Before the assignment he had served as ambassador to Ukraine in 2013-2016 at the time of Euromaidan – the events the US took active part in. He almost openly contributed into the Russia-Ukraine rift. Now it’s the turn of Greece. The ambassador has already warned Athens about the “malign influence of Russia”. He remains true to himself.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris connect the dots between the Ukraine coup and Greece’s recent row with Russia, and the man who is in the middle of it all, US Ambassador Geoffrey Pyatt.

Remember to Please Subscribe to The Duran’s YouTube Channel.

Via Sputnik News

Actions similar to the expulsion of Russian diplomats from Greece do not remain without consequences, said spokeswoman for the Russian Foreign Ministry Maria Zakharova.

“We have an understanding that the people of Greece should communicate with their Russian partners, and not suffer from dirty provocations, into which, unfortunately, Athens was dragged,” Zakharova said at a briefing.

“Unfortunately, of course, we are talking about politics. Such things do not remain without consequences, do not disappear without a trace. Of course, unfortunately, all this darkens bilateral relations, without introducing any constructive principle,” she added.

On July 11, the Greek Kathimerini newspaper reported that Athens had decided to expel two Russian diplomats and ban two more from entering the country over illegal actions that threatened the country’s national security. The publication claimed that the diplomats attempted to intervene in a domestic issue, namely the changing of the name of the Former Yugoslav Republic of Macedonia (FYROM) to the Republic of North Macedonia, the agreement for which was brokered by Skopje and Athens last month.

The Russian Foreign Ministry has vowed to give a mirror response to Greece’s move.

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Russia just DUMPED $80 billion in US debt

The US Treasury published a report naming those countries that are the largest holders of US bonds. The list includes 33 countries, and for the first time Russia is no longer in it.

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Russia has stopped “inching towards de-dollarization” as I wrote about on July 3rd, and has now energetically walked out of the list of largest holders of US government bonds, hence this update. For the two months ending in May 2018, Moscow has offloaded more than $80 billion in US Government debt obligations.

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The $30 billion “minimum” listing Rubicon has been crossed by Russia.

As of the end of May, Russia had bonds worth only $ 14.9 billion. For comparison: in April, Russia was on the Treasury list with bonds totaling $48.7 billion. Even then it was offloading US$ debt securities as Russia owned in March over $96 billion. At the end of 2017, Russia had US treasury securities worth $102.2 billion. It is anyones guess what Russia will own when the June and July figures are released in August and September – probably less than today.

This simply serves as a confirmation that Russia is steadfastly following a conservative policy of risk diversification in several areas such as financial, economic, and geopolitical. The US public debt and spend is increasingly viewed as a heightened risk area, deserving sober assessment.

So where have all the dollars gone? The total reserves of the Russian Central Bank have not changed and remain at approximately the equivalent of $ 457 billion, so what we are seeing is a shift of assets to other central banks, other asset classes, just not US$ government bonds.

During the same time (April-May) as this US$ shift happened, the Russian Central Bank bought more than 1 million troy ounces of gold in 60 days, and continues.

For comparison sake, the maximum Russia investment in US public debt was in October 2010 totaling $176.3 billion. Today it is $14.9 billion.

The largest holders of US government bonds as of May are China ($ 1,183.1 billion), Japan ($ 1048.8 billion), Ireland ($ 301 billion), Brazil ($ 299.2 billion), Great Britain ($ 265 billion).

Using the similar conservative metrics that the Russian Central Bank has been rather successfully applying through this geopolitically and economically challenging period with the US and the US Dollar, it may not stretch the imagination too much that other countries such as China may eventually follow suit. Who will finance the debt/spend then?

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