1962 to 2022: From Coup to Coup

Before you study the economics, study the economists!

e-Con e-News 10-16 July 2022

A coup is in the making. Perchance, it’s the same old coup. To snatch any remaining sovereign power from the people. Especially economic independence. To postpone full independence yet again, by soaking it in more of that sticky stuff that normally flows through our veins.

     Calling up the ghouls of that past, we find their sticky fingerprints on this episode too, of yet another relative of the failed 1962 coup d’etat – this time of its leader, Colonel FC de Saram – making the news again, exactly 60 years later. ‘Coup’ de Saram’s grandson Julian Bolling, an open and long-term recipient of USAID dollars, demanded and made the Supreme Court this week take away the passport of a former governor of the Central Bank, to apparently ‘reinforce people’s power’ (see ee Random Notes).

     Deadly words. Ghouls they not only walk and talk, they litigate. They wish the head of a (possibly, the only) governor who dared speak to the need for a real development bank, not just one in name.

     Meanwhile, an important-sounding body, the Central Bank Executive Officers Union – as if to preclude the tortures of a dollar-wielding Guantanamo Torquemada – has made a pre-confession, and called for ‘the continuation of engagement with IMF and fiscal reforms’. They too, ‘support the Aragalaya.’

     The Central Bank – with the highest number of PhDs per square foot under one roof in Sri Lanka – has always opposed the independence of the country, reminded SBD de Silva, once director of research at the Central Bank.

     And central bankers are falling out of the skies.

Just as Sri Lanka’s President was about to be sent, or was on his way, to Singapore, the US CNN Bureau in the Philippines interviewed fugitive ex-CB-governor Arjuna Mahendran. Old Royalist Mahendran – it has been presumed – is hiding out in Singapore, that regional southeast Asian hothouse of ‘good governance and rule of law’. CNN was asking for his take on the latest roll of the dice (ee Economists, Wanted).

     New York’s Bloomberg, meanwhile, laments a supposed political vacuum, and quotes a London-based portfolio manager, hinting at that perennial yearning to make the Central Bank independent of the legislature: ‘The role of the central bank governor now is key…’’ (ee Economists, Bailout)

     The present Central Bank governor, Nandalal Weerasinghe, who is yet to explain his role in the 2015 bondscam, promises: ‘Talks with the IMF are continuing virtually and most of their expectations are being met’.

     Yet the story’s headline says it all: ‘The IMF…hopes…to…resumediscussions.’ The statement is awash with aasai-bayai modifiers of tentativeness! Malaysia’s Strait Times then reports, the IMF says talks with Sri Lanka have been ‘interrupted’ by the unrest. The IMF is fanning the flames…

     Meanwhile, regional Borah merchant Murataza Jafferjee has submitted the National Movement for Social Justice economic program. Jafferjee is chairman of US-thinktank Advocata, and heads actor-President & Finance Minister Ranil Wickremasinghe’s ‘Economic Stabilization Dialogue’ between the Ministry of Finance and the ‘independent economists’.

The word ‘independent’ is being subject to even greater abuse.

A token drip-drop in petrol prices, and joy in the stock market after the President’s resignation: There’s nothing like the casino called the Colombo Stock Market being called upon to speak its truths in dollars, to gage shifts in their messaging: The week began with Wijeya group Financial Times headline, Aragalaya boost for Colombo stock market. Then US-organ EconomyNext reported: Sri Lanka stocks jump to 3-week high on political stability hope after PM takes charge. The Island also reported: Share market turns positive in the wake of GR’s resignation; turnover hits Rs1billion. Then with the call for ‘law and order’, EconomyNext: ‘Sri Lanka shares down after violent clashes amid political unrest…’ ee here records the shift from months of relentlessly provoking people to now demanding the army to put their genie back into the bottle.

• Another US military exercise ongoing on the seas around Sri Lanka, since April at least, suggests an ongoing US blockade to prevent fuel assistance from Russia, or Iran, enforcing the collapse of the economy and removal of the President. The Sea Vision training is conducted by the Office of the Defence Cooperation (ODC) of the US Embassy in Sri Lanka, as the US attempts to take full control of Sri Lanka’s oceans and airspace.

     On June 20, a top Australian delegation held talks at the Defence Headquarters Complex, at Pelawatte. Australia is a member of the ‘Quad’ alliance, comprising the US, Japan and India, that claims it is challenging China’s presence in the Asia-Pacific region. The Australian delegation led by new ‘Minister for Home Affairs & Cyber Security, Clare O’Neil MP, included Australian Border Force Commissioner Michael Outram APM, Commander of Joint Agency Taskforce. Rear Admiral Justin Jones, Commander….’

     The meeting took place against a backdrop of people supposedly heading down under on boats (just like the current Australian white-settler’s ancestors did, tho with less consequences for the original Australian people).

     Jones was involved in that shady revelation timed to outragify Australian voters heading to their polls in May, that a vessel had ‘been intercepted in a likely attempt to illegally enter Australia from Sri Lanka.’ Sri Lanka’s Communist Party MP Weerasumana Weerasinghe notes, racketeers pass information to authorities after collecting money from would-be asylum seekers. The lost-Welsh Rear Admiral Jones should tell us upfront.

• The news about the President taking his leave was first announced on the English Queen’s lipstick, BBC. Local channels dutifully parroted. The BBC reported:

Sri Lankans blame President Rajapaksa’s administration

for their worst economic crisis in decades.

For months they have been struggling with daily power cuts

and shortages of basics like fuel, food and medicines.

The authoritarian leader, who enjoys immunity from prosecution

while he is president, is believed to have wanted to flee abroad

before stepping down to avoid the possibility of arrest by the new administration.

• The New York Times has done it again. They have also given us, one more time, in less than an iota of salt, their gospel of the day on Sri Lanka. Their day. A gospel they wish to make ours as well:

‘They promised ‘vistas of prosperity and splendor.’

Instead, they delivered soaring inflation, severe food and fuel shortages,

power blackouts and a country on the precipice of collapse.

The calamity unfolding in Sri Lanka has many causes:

debilitating debt, China’s geopolitical ambitions,

the pandemic, the turmoil in global food and fuel markets

caused by Russia’s invasion of Ukraine –

and underlying it all are the hubris and recklessness of the Rajapaksa dynasty.’

– ‘A Reckless Dynasty Has Brought Calamity to Sri Lanka’

The NYT, aping a doddering nostradamus of doom, dribbles off a drop of inked spit, sparing us albeit in fractured crystalline, the current imperialist view of Sri Lanka and the world. A Fake Pearl for the pearl:

Rajapakses = Corruption = Chinese = Debt = Trap

This – a meme their propaganda orchestras trumpet, chime and bellow around the world – is corruption personified itself. It is almost like an Unilever FMCG – a fast-moving consumer good. Anyone wishing a green card or dollar stipend should memorize this rosary chant. It has use and exchange value.

     The NYTimes represents the imperialist ruling class in the US. They are mounting a powerful proxy war against China. They are financing and arming terrorist movements as far as we can see, as we look around us in our part of the world. They aim to widen every hairline fissure, use any trick in the good book, and throw as much mud as they can to fog the soup. In the east in Myanmar, Thailand, and beyond, especially in the stormy seas from Diego Garcia, through to the Pacific, north and south. To our north and west, from Kashmir and their forever and covert wars in Afghanistan through Iran, Iraq and Syria, to the Horn and Libya.

     This ee reproduces the testimony of the US official who organized the coup against Iran’s first elected President Mohammed Mossadegh in 1953. Mossadegh wished to nationalize the oil industry monopolized by the English and US. Again, the excuse given for creating chaos, and then kidnapping and torturing a national leader, was a purported link with the USSR/Russia. Mossadegh is one of the first of a series of leaders the US undermined in the 1950s and onwards as they sought to take over and bolster the role of English imperialism in Asia. The Iranian tragedy was engineered 6 years before the assassination of this country’s first nationalist PM SWRD Bandaranaike, and 9 years before the attempted coup d’état against Sirimavo Bandaranaike, the world’s first female head of government.

No woke objections then!

• How coincidental is the timing of the resumption of parliament to choose a new President on July 20, and the US government sentencing of a former Sri Lankan ambassador on that very day? MPs who do not vote for the empire’s candidate have been threatened with death (as hinted at the May 9 dress rehearsal) as well as promises to expose their ‘corruption’. The Island has already disclosed that the ghouls – sparrow units – of 1988-89 are already on the loose (see ee Politics, Death-dealing 1980s sparrow units)

     On Thursday, the Wijeya Group’s Daily Mirror highlighted confidential correspondence between the US and SL governments: The Daily Mirror is ‘in possession of copies of all corresponding documents exchanged between the Foreign Ministry and the State Department US from 2017 -21’.

     The US-funded Yahapalana government waived off Rajapakse cousin Jaliya Wickramasuriya’s immunity in 2017 at the request of the US State Department (Random Notes).

Contents:

A1. Reader Comments

• Nuland paid off protestors • Dedollarize now • Ally with China or go down with Titanic

A2. Quotes of the Week

• US$801mn worth of English pleasure vehicles imported • Paradise Stopover for NGO Busybodies • Yahapalana & ISBs • Mossad’s monkeys • India’s troops on way • IMF Takes Over Economic Policy: Mahathir • Dhammika & the Oligarchs • Unsubstantiated Corruption • Colour of the SL revolution • Soviet Origins of Indian Oil • Germany always sells more than it buys • BASL & Plunder

A3. Random Notes

• USAID’s wildlife, Coups & Lakshman’s passport • The Raging Orphans of 1948 and 1977 • NATO’s Troops of Color • India’s wrong side of history • Julie’s July Revolution • Sri Lanka’s Name Change • The UNP’s Change of Mind on Industrialization • US Courts & Sri Lanka’s July 20 Date with Destiny • Economics Professors, Fuel & Fools

B. ee Focus    

B1. Countercoup: The Struggle for the Control of Iran – Kermit Roosevelt

C. News Index

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A1. Reader Comments

ee thanks Readers who send articles of interest. Please excerpt or summarize what is important about any news sent, or your comments, and place any e-link at the end. Email: econenews@gmail.com

• Reading ee is like a crutch right now…ee is like a source of light in the darkness or I’d be so lost feeling only I felt this way.’

• ‘It’s horrible what’s happened. The president must not step down. The leaders should tell the people what is happening. People must know what the US and India are doing to us. This is our country and our future! If the president steps down now they’ll do it again. They’ll do it to future presidents too. It won’t end here and the people will be kept hostage. Supporters should come out as a show of force like Imran Khan. Tell people the truth of what’s happening. Just because Victoria Nuland paid off fake, violent protesters, a country can’t be held hostage like this. To attack our elected leaders is to attack the people, all of us. Get Ranil to step down and appoint someone else.’

• ‘In 1948 we made a trade off with our imperial rulers: political independence in exchange for economic dependence. We have obediently stayed economically dependent on them and because of it, although with slight hiccups from time to time, our political independence was generally allowed. But look where it’s come to now. Apparently they wish to take away what little political independence we had, too. Not even letting the most popularly elected president finish his term. The tradeoff no longer applies. If our leaders had any apprehensions about fully walking towards economic independence they should cast it off now. Sri Lanka must de-neoliberalize and de-dollarize.’

• ‘The IMF is designed to f#$k countries over, and with worldwide recession and especially panic in Western countries, an export-based industrialization is still not enough because it requires their markets, it requires being dependent on overdeveloped countries, it doesn’t guarantee sovereignty. We need a new set of thinking that doesn’t need to be convinced of industrialization because they’ve already seen/know it’s benefits. We also need strong ties to China which can lead us out of the lack of technical knowledge, etc. In short, we must be aligned, with China & Russia. SL is still doing a balancing act even when drowning on the imperial Titanic!!’

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A2. Quotes of the Week_

• ‘Citing the UN Comtrade database, macroeconomic data provider Trading Economics has reported, in 2021 Sri Lanka imported US$801 million worth of yachts and other vessels for pleasure, or sport, from England.’ – ee Economy, Exporters

• ‘Sri Lanka is a stopover paradise for these foreign busybodies (NGOs included) who could live majestically on their allowance. There is exotic food, sun and surf, safaris and misty mountains within easy reach and a population extremely friendly. NGOs provide them with freebies and roll out the red carpet. An orchid garland on arrival goes a long way. Afghanistan or Iraq, though easily available, is considered a death sentence, while the only threat in Sri Lanka is the cancellation of visas.”’ – Gomin Dayasri, ee Politics

• ‘In 2020, inflows to Government coffers mostly on projects was $1.9billion and it repaid $1.7bn and similarly, net positive inflows of $0.7bn were recorded in 2021. However, the Government had to repay $3.1bn on Foreign Commercial Loans (FCL) in 2020, and 2021. These large repayments together with interest expense totaling $1.7bn on FCL over the last 2 years led to the drastic fall in foreign reserves. Consequently, we are facing today’s humongous dollar crisis.

     Those who were at the Presidential Secretariat and the Central Bank till recently raised FCL during 2007-14 with the IMF’s tacit support. FCLs were mainly International Sovereign Bonds (ISBs) and volatile inflows of foreign money to the domestic debt market. From 2015 the Yahapalana Government facing a looming rollover crisis, ie, refinancing of past loans, continued the borrowing spree with new commercial loans, spreading their repayments till 2030. Then from late 2019 under this Government, came the suicidal “home grown” remedies lacking a coherent plan to tackle the rollover crisis which led to default this year.’– ee Economists, Mantle, Sunday Times

• ‘Some decades ago, during the JR period, an Israeli MOSSAD officer described Sri Lankans as “monkeys just down from the trees”. I found it offensive back then, but I am having second thoughts as it is beginning to seem like an accurate description given what I have seen take place …’ – ee Security, Vengeance

• ‘India is suddenly feeling the pinch. The statement of Subramaniam Swamy to send Indian troops echoes the fear that India may lose its influence over Sri Lanka. India influenced Tamil Nadu using Tamil theme, but Tamil Nadu is heavily influenced by the Church which will follow West’s agenda. All those that speak on behalf of Tamils are not Hindus. This is where India has been fooled. India is realizing this too late. Now US like an octopus has its tentacles across all spheres of influence. But without ability to generate revenue, even US cannot sustain Sri Lanka.’ – ee Politics, Crisis

• ‘If you go to the IMF and World Bank, their only interest is [that you] repay the loans. They don’t care what happens to the country, politically or economically… They also want to take over the running of the country and the economic policy of the country, which means we have to surrender to them.’ – Mahathir Mohamad, Malaysia’s former PM, ee Economists

• ‘Dhammika Perera, who started as a casino owner, from casino proceeds and with huge political patronage has built an empire. The 2 largest finance companies (LB Finance, Valibell): main shareholder in key banks (Sampath, Pan Asia); monopoly of ceramic and bath ware sector (Rocell, Lanka Tiles); many hotels (Kingsbury, Fortress; Maldives), key companies Hayleys & affiliates, Singer Co, to name a few.

     There are at least 5 other Oligarchs in Sri Lanka. You can identify them through their initial business lines and current status: 1) Arms dealer to largest construction company; 2) Used car importer, owning finance microcredit and other operations in Sri Lanka and abroad; 3) PC salesman to hospital owner and electronics goods company; 4) Tea exporter to largest liquor company, hotel owner; 5) Steel Company owner, Dubai Hotel, Rubber, cement and steel companies.’ – ee Economists, Dhammika

• ‘Hamilton Reserve Bank, St Kitts & Nevis based, filed a suit in the Federal Court of New York Southern District last month against Sri Lanka over the country’s default on a $1billion sovereign bond maturing this month. According to a part of the case documents published in Sri Lankan media, the Bank has accused the Rajapaksa family of “lining their own pockets through years of corruption”. Quoting former US government officials and unnamed investigative journalists it said, the Rajapaksa family has amassed a multibillion-dollar fortune and hidden part of it in bank accounts in offshore jurisdictions such as Dubai, Seychelles, St Martin. Despite the fact that the Bank has not substantiated these allegations, this indicates that the allegation of corruption at the highest level in Sri Lanka has been internationalised.’ – ee Economists, Unsubtantiated

‘Color of the SL revolution? Many days before “GotaGoGama” was established at Galleface, US ambassador in SL expressed, “Sri Lankans have a right to protest peacefully and it is essential for democratic expression’ and she was also concerned about economic stability and relief for those suffering (2 April). While other diplomats were discussing ways to help SL to recover from economic crisis, the US Ambassador in SL urged the public to engage in peaceful protests…

     During WWII modern-day Iran experienced an Anglo-Soviet invasion. In the aftermath the British-owned oil industry in Iran was nationalized by the elected PM Mohammed Mosaddegh. Later a military coup backed by UK and US threw the PM out, gave power to Shah and transferred the oil industry back to the Western powers. It was called the White Revolution. Some Iranians believe the “White” was that it was planned in the White House (Iranian sources). It is not clear if someone actually wants chaos and conflict in SL so that the average citizens’ trust in ballots gradually reduces and the next generations would only struggle at Galleface etc to change governments. A colour code is not yet given to the events in SL? … Indian academic Subramaniam Swamy referring to the allowed chaos in Colombo reportedly said, SL might be like Germany under Hitler’s boys. They ruined the country and made it a US colony for decades according to him.’ – ee Sovereignty, Days Before

• ‘Legend is that when Soviet Communist Party Secretary Nikita Khrushchev paid his pathbreaking visit to India in 1955, PM Nehru, amongst other “talking points”, referred to Soviet Union’s great reservoir of expertise in the oil sector, while complaining that the West refused to help anything in India’s state sector. Khrushchev instinctively reacted in positive terms to Nehru’s request for help, and no sooner than his return to Moscow, deputed a famous Soviet expert/geologist to India to prospect for oil – whose fame was such that he could apparently smell oil lying untapped deep in the bowels of the earth. Thus was born the Oil & Natural Gas Corporation (ONGC) in 1956, which is heading for Sakhalin Island on a similar mission!’ – ee Industry, Sakhalin

• ‘Tiny Singapore has a huge bureaucracy – 145,000 civil servants in 16 government departments and over 60 statutory boards’ – ee Economists, Lankan bureaucracy

• ‘Selling more than it buys has been a central tenet of Germany’s ascent to the global economic elite.’ – ee Economists, Splutters

• ‘When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it ’– Frederic Bastiat, 1848

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A3. Random Notes (‘Seeing Number in Chaos’) _

• It’s the capitalist media that turned recent economic decisions, amidst a surfeit of headwinds of plague and war, into the causes of an economic crisis and into a momentary political problem.

     The passport has even been taken away of possibly the only Central Bank governor, WD Lakshman, who had an iota of national feeling. Julian Bolling, who petitioned against Lakshman at the Supreme Court, along with US World-Bank-linked Transparency International, is recipient of USAID’s dollared largesse, and a relative of 1962 coup leader Colonel FC de Saram. De Saram was set free by England’s Privy Council. Up until 1972, Sri Lanka had no control over its own judiciary. England had kept vetoing progressive legislation after 1948. The attempt to rudimentarily industrialize after 1970 was then sabotaged by other means, means that have now reached their peak.

     Bolling has long rented his 5th Lane, Colombo 3, home to USAID’s Support for Professional & Institutional Capacity Enhancement (SPICE). This also houses the Bolling Swimming Academy, a block up from the just-burnt home of now acting President and former PM Ranil Wickremasinghe, and the Canadian embassy.

     The other petitioners include: Jehan CanagaRetna, the General Secretary of the Rockefeller-funded Wildlife and Nature Protection Society (WNPS), and a consultant to the Sri Lanka Rainforest Alliance Team, which is linked with top conglomerates like Harry Jayawardena’s Aitken Spence, who have been the main accused in staging the oil shortage. The alcohol-pushing Jayawardene is considered a bag man for the Catholic Church.

     The other petitioner is Chandra Jayaratne, a former Chairman of Ceylon Chamber of Commerce and member of the Friday Forum. He is variously described as a ‘retired business leader’, ‘good governance activist’, and ‘public interest activist’ . He vigorously opposed the import controls, and palm oil ban, and the decision not to seek IMF largesse. Jayaratne demanded in 2021 for Central Bank Governor WD Lakshman to engage in a public debate about its monetary policy, citing ‘Sri Lanka’s sovereign rating downgrades by international rating agencies, the IMF reports on Sri Lanka’s Debt Sustainability, and credit alerts against Sri Lanka issued by Morgan Stanley, Citi Group, Barclays and Standard Chartered Bank. In 2020, Chandra Jayaratne congratulated JVP-linked Jathika Jana Balawegaya (NPP) MP Harini Amarasuriya thus: ‘Civil society hails with three cheers and respectfully recognises your brilliantly conceptualised, niche and professionally-developed maiden speech in Parliament.’

Politics & Economics: As far as we can see they operate thakata-thei.

     How far do we wish to go, forward and back? The English wished to continue their colonial stranglehold by other means after 1948. The import-export plantation economy was flourished. Glancing at any English media displays the overflowing of the glossy paeans and green laments for this parasitical kangani system.

     The early misreading, prevention and sabotage of modern industrial production – and investment in it – escalated after 1977. The export of workers, the promotion of tourism and services, wasting worker power in labor-intensive pre-industrial production as in the much-applauded garment aka apparel fiasco: all were flourished. Their media call plantations, tourism and cloth-assembly , ‘industry’, hemorrhaging dollars out of the country, rather than invest in machine-making.

     The financial system that held intimate hands with this import-export scandal over many decades decided they would no longer roll over payable debts. They have decided they no longer have ‘confidence’. They have thereby struck the first spark. Ready to ransack & burn their colonial edifices, so as to reshape their colonial rule.

     They also attacked the rupee. After they reclassified Sri Lanka as a ‘middle-income country’, the 2015 government had turned an import-dependent economy towards massive international sovereign bond debt for luxury consumption.

     With the recent shocks, no apparent dollars for fuel and food: These issues were hijacked by the middle class and their media, diverting structural issues to a dollar-funded single-focus: the Rajapakse-corruption, China-debt-trap singsong. The premier corruption is in the private sector that is the main force for the corruption of a public service. It is easy with a public service that is not dedicated to production and profit for the country, but to seeking personal rents. It is not just politicians who are beneficiaries of bribery aka ‘goodwill’, the web spreads and sucks in those also among 100,000s of officials as well. In a country, where production is discouraged, whole generations were nourished on easy imports and foreign-fed dreams of luxury consumption.

To English is also a verb. To English is to wage war. The Anglo-Saxon empire and their yipping poodles now wage English on us through their ‘coolie’ and ‘negro’ colonial ventriloquist dummies in a multiplicity of slithering tongues, all hissing the same bile. With a smile. The lost-Korean Julie Chung, US ambassador and her boss, the lost-Chinese Donald Lu US Assistant Secretary for South Central Asian Affairs (who accompanied lost-Ukrainian-Jew Victoria Nuland, Undersecretary for Political Affairs, to Sri Lanka on 22 March), a lost-Tamil-Jamaican VP here and a lost African Army Chief there, a lost-Jain English Chancellor Exchequer and a lost-Gujerati Home Secretary, interesting both these last 2 Indian itinerants went to England via the merchant trade routes of Africa: all this ‘inclusivity & diversity’ blossoming in a wintry rainforest hothouse in Westminister.

Recall the Indian, African, Malay and Ceylonese Corps, adjuncts of the Portuguese, Dutch and English wars escalated on us since the 16th century, at least. It may now appear to the world that the White Father & Mother are fondling at their bosom, the empire’s darker orphans, being given equal access to the funded teats of milk & honey. Yet these whitewashed apparitions are one more mask for the monstrous face of the US-led NATO murder-machine, revving its engines in the wings, to fly beyond Kiev.

• ‘India is not on the right side of history’, declares ex-envoy MK Bhadrakumar. ‘India remains an ATM machine for US arms vendors’, therefore the ‘India-US “strategic partnership” won’t lose its fizz’. ‘Fundamentally, middle-class interests prevail in foreign policy, and the influential NRI lobby in the US wields much clout with India’s ruling elite.’

     The US Biden Administration ‘is confident that Modi Govt’s so-called “strategic autonomy” would inevitably have a US tilt. The oil purchase is a pragmatic decision. Reliance reportedly garnered a windfall profit out of buying discounted Russian oil and marketing it in the world market at much higher price as petroleum products. That is smart business of a kind that the West admires. India is losing its strategic focus at a momentous period in global politics. This is primarily due to the ruling elite’s “Chanakyan” mindset, where strategic autonomy gets confused with opportunism and cynicism… the leadership’s whims and fancies seem to be the guiding force.’ (see ee Sovereignty, ‘Biden’s I2U2 summit diminishes India’)

• ‘It is a bread riot, channeled into #gotagohome… Everyone seems to have forgotten that it was essentially an economic and not political crisis that precipitated matters. That remains conspicuously ignored, beyond the call for immediate relief measures, presumably on the basis of more IMF loans and debt, which is part of the problem rather than the solution, the demands do not address the structural dimension of the economic crisis confronting the country… this is precisely the problem concerning which radical demands must be precisely articulated.

     The Aragalaya – which proudly includes members of all classes – in its demands seems to have missed the local and global class dimension of the economic crisis. The limitations of their political vision, restricted to liberal constitutional reform, raises moreover the question about its own representative credentials: how does the Aragalaya authorize itself to speak in the name of the people of Sri Lanka? On what kind of democracy is the Aragalaya itself premised, in order to derive its own political legitimacy in distinction from that of the parliament, with or without constitutional reforms?

     The Aragalaya is without doubt a popular even mass uprising, diverse in participants and spontaneous in evolution. As such it begs comparison with other revolutionary and non-revolutionary mass uprisings, from the bourgeois French Revolution to the workers’ Bolshevik Revolution, to the more recent Arab Spring and Occupy movements. In more successful among revolutionary uprisings, those that achieved systemic and emancipatory change at the level of social, economic and political structures, revolutionaries produced new political forms in conjunction with fundamental economic transformations. No such radicalism is so far evident in the demands of the Aragalaya – in spite of its rhetoric of radical change. The true challenge for the Aragalaya in Sri Lanka now is to liberate itself from liberal political reformism and co-optation by the actually existing global capitalist economy, ably represented by the US Ambassador in Colombo, and to imagine what real change actually would look like and how another world is possible in Sri Lanka.’ – ee Politics, Centre

• ‘Sri Lanka didn’t change its name to the Democratic Socialist Republic in 1972: it became the Free, Sovereign and Independent Republic of Sri Lanka. What then happened was more bizarre. In 1978 Vietnamese PM Pham Van Dong visited Sri Lanka. JR had just made himself executive president through an act of the national state assembly, but he had not yet changed the constitution. At the end of the visit, the 2 leaders signed a joint communiqué. Pham Van Dong signed as PM of the Socialist Republic of Vietnam. JR wanted to go one up on him, so he signed himself as President of the ‘Democratic Socialist Republic of Sri Lanka’. Later that year, the new constitution formally changed the name.’ – Vinod Moonesinghe

• ‘In 1944 the State Council of Ceylon resolved to launch a State Project of Industrialization in Ceylon. In the same year there was the Industrial Corporation Bill. The concept of socialist industrialization was keenly advocated by the Marxist parties which believed full employment could be achieved only through industrialization. The same year Jayawardene (JR) moved a motion in the State Council for the preparation of a complete plan for industrialization. There was a firm bipartisan consensus on industrialization with a different emphasis on ownership. Senanayake (DS) was a prime mover of the plan for industrialization. This was also the time that Anagarika Dharmapala was haranguing the nation to industrialize. The following highlights in a chronological order, the performance in industrialization of different regimes in Sri Lanka.

     At the general election of 1947 the UNP fell short of a majority and had to form a government in coalition with the All Ceylon Tamil Congress. The success of the Left parties at the 1947 election alarmed DS, who was an astute politician. He was aware that the Left could build a mass base with industrialization. DS had a staunch commitment to the development of agriculture through colonization. He also had the motive to create a pool of peasant-farmers who would be a strong base for the UNP. The project had both a nationalistic and political flavor and was vigorously pursued in the face of criticism from the Left parties. But for political bias, DS could have steered a 2-pronged strategy for the development of the country leading to food security and full employment through industrialization. We had the funds, physical and human resources, and the infrastructure to venture into manufacture. But politics prevailed and we missed the most important opportunity for an early start of a manufacture-based economy with export orientation.’ – ee Economists, Dollar Crisis

• Jaliya Chitran Wickramasuriya, 61, of Arlington, Virginia, cousin of the ruling Rajapkasas, served as Sri Lanka’s Ambassador to the US and Mexico, July 2008 to May 2014.

     Sri Lanka’s Police Financial Crimes Investigations Division arrested former ambassador Jaliya Wickramasuriya on November 16, 2016, for misappropriation of funds in the course of the purchase of a building for the Sri Lankan Embassy in Washington DC, during his tenure there. He was released on bail on March 17, 2017, and subsequently travelled for medical treatment to the US, where he presently remains.

     Following the highly sensitive request made by the US, the Ministry of Foreign Affairs on the same day sent a diplomatic note to the US Embassy in Colombo, giving assurance to waive off the immunity Wickramasuriya enjoyed, to assist their ongoing investigations.

     It is alleged, the reason behind the SL Foreign Ministry making requests to the US State Department to withdraw the diplomatic note of 2017 October 23, was to prevent Wickramasuriya from becoming a prosecution witness in investigations carried out by the US into financial crimes committed by the Rajapaksa family.

     On 1 April 2022, he pleaded guilty in a US District Court in Washington DC, to diverting and attempting to embezzle his employer, the Government of Sri Lanka. Lost-Jamaican US Judge Tanya S Chutkan will sentence Wickramasuriya on 20 July 2022.

• Economics Professor Srimal Abeyratne got it wrong again this week, dating the US Hickenlooper Amendment to 1964. The Act punished Sri Lanka for setting up the Ceylon Petroleum Corporation (CPC) in 1961. Abeyratne, a weekly Sunday Times columnist, is also a director of the US-funded thinktank Advocata (see ee Focus)

     ee has sometimes been unkind by referring to him as Abeyratne Ad-Absurdum, for his ability to draw conclusions from unrelated premises. This week he lent his media real-estate to launch an attack on ‘socialists’ behind the feeble nationalization of the oil industry. He called for selling it off – back to the oil monopolists.

     Internal distribution of petroleum products in Sri Lanka was exclusively in the hands of 3 international companies, Stanvac, Caltex and Shell. They also owned all the distribution facilities. Products were imported at prices posted in the Persian Gulf. In 1960 the government asked the 3 to reduce import prices and they refused. A state-owned CPC was then set up in May 1961. April-May 1962, about 20% of the properties belonging to 2 US companies (Esso Standard Eastern, Caltex) and one English company (Shell) were taken over for the CPC’s commercial oil distribution operations. 27 April 1962, Ceylon nationalized 83 gas stations and other facilities owned by Esso and Caltex.

     July 1962, the US Congress amended the Foreign Assistance Act, including a new section, the ‘Hickenlooper amendment’. This provision enabled the US President to suspend aid under the act in expropriation cases when a foreign government failed within 6 months to take appropriate steps to discharge its obligations.

     (Wikipedia’s Hickenlooper Amendment entry attempts to make out as if it wasn’t passed: ‘The proposed Hickenlooper Amendment… would have halted aid to any country expropriating US property… It was defeated on the Senate floor, 45 to 35… Had the amendment been enforced throughout the years, it would appear that we would have been in a far better position in our relations with the less-developed nations and certainly… in regard to our balance of payments.’ – en.wikipedia.org/wiki/Bourke_B._Hickenlooper#Hickenlooper_Amendment)

     7 February 1963, the US suspended aid to Ceylon, the first time under the Act. The Ceylon government noted: ‘Ceylon’s experience in this shows that reliance on foreign aid could entail some measure of a surrender of a country’s freedom of action in regard to adoption of policies which received the full endorsement of its own nationals.’

     March 1963, US sanction-amendment author Ross Adair noted, the amendment had also ‘influenced several countries enacting agrarian reforms which were expropriatory in nature…’

     July 1963, the CPC was given a monopoly over importation and internal distribution. April 1964, the Ceylon government appointed a tribunal to hear the foreign oil companies’ claims. June 1964, Shell Co challenged the tribunal’s jurisdiction under the Ceylon constitution. Dec 1964, Sirimavo B government was overthrown after ruling party members were bribed to cross over. In 1965 the new government paid compensation to the private oil companies.

     In 1970, additional storage facilities belonging to Esso & Shell were taken over. In 1971 a new Sirimavo government moved to take over marine bunkering; and also contracted the French Petroleum Institute to evaluate geological & geophysical data, and formulate exploration programs to grant exploration concessions….(to be continued).

• ‘The declaration of war against Iran (Persia) by England or rather by the East India Co. is the reproduction of one of those cunning and reckless tricks of Anglo-Asiatic diplomacy, by virtue of which England has extended her possessions on that continent. So soon as the Company casts a greedy look on any of the independent sovereigns, or on any region whose political and commercial resources or whose gold and jewels are valued, the victim is accused of having violated this or that ideal or actual convention, transgressed an imaginary promise or restriction, committed some nebulous outrage, and then war is declared, and the eternity of wrong, the perennial force of the fable of the wolf and the lamb, is again incarnadined in history; – Karl Marx on the Anglo-Persian war, 1856-57

_____________

B. Special Focus_

B1. Countercoup: The Struggle for the Control of Iran – Kermit Roosevelt

CIA official Kermit Roosevelt – a relative of 2 US Presidents, and belonging to a family that had made their millions in the 19thC opium trade imposed on China – was provided $1 million by the US government to overthrow Mohammed Mossadegh, Iran’s first elected prime minister. Roosevelt set up the ‘American Friends of the Middle East’. He paid mobs to demonstrate and then kidnap Mossadegh, who was tortured, and died while under arrest.

Mossadegh had introduced social security, land reform and taxes, including taxation on the rent of land. His government nationalized the Iranian oil industry.

Roosevelt, frames his ‘plot’ by claiming it was England’s Anglo-Persian Oil Company (APOC/AIOC) aka British Petroleum (BP) who wished to overthrow Iran’s PM. All the US (not Rockefeller’s Imperial Oil of course) yearned, was to protect Iran from ‘evil’ Russian communism.

     Roosevelt paid mobs to demonstrate, tricking Mossadegh into urging his supporters to stay home, and bribing and mobilizing officers against Mossadegh… Photographs for media were faked to depict it as a popular uprising…

• ‘You can look down Takht-e-Jamshid toward the bazaar and see signs of a huge mob approaching. They are cheering and waving banners. The Zirkaneh are in sight and everyone is shouting ‘Zindabad Shah’.’

     ‘Do you think the time has come to turn General Zahedi loose to lead the crowd?’ Dick asked the question that was on all our minds. We gave it some thought.

     Reluctantly, I said I thought we should hold off just a bit longer. ‘There is nothing to be gained by rushing. Let’s wait till the crowd gets to Mossadegh’s house. That should be a good moment for our hero to make his appearance.’ – Chapter 12

• ‘Well, we count on them with confidence; they have a strong team under them’ – no need to say we didn’t know who made up that team – they can distribute pamphlets, organize mobs, keep track of the opposition – you name it, they’ll do it. I know them personally and rely on them absolutely.’ It did not seem necessary to add that I never expected to see them again, that once the job was completed I hoped they would sink into their surroundings without a trace. They had no professional contact with foreigners – or, at least, so far as I could tell, with Americans, English or French. No way to guess who else they saw. But that was not my worry now.

     ‘Incidentally, they seem to require almost no funds from us. We have a gigantic safe next to my principal assistant’s office. It is in a big closet and occupies the whole space. This safe is jam-packed with stacks of rial notes. Your highest denomination note is only 500 rials, and your current PM, for whose competence and reliability we have such regard,’ I said sarcastically, ‘has driven the exchange rate down so that it’s worth just over $5. We have the equivalent of about $1 million dollars in that safe.’ – Chapter 10

‘June 25, 1953, our course of action in Iran would be decided… The English had done a draft, which I had rewritten because it was too precise. They had outlined a complete plan; the most I thought we could do was define an objective…

     AJAX was the cryptonym assigned to the operation. (‘Cryptonym’ is defined in my dictionary simply as a ‘secret name,’ and the CIA used cryptonyms to identify specific clandestine operations.) What AJAX was intended to be was a cooperative venture. It allied the Shah of Iran, Winston Churchill, Anthony Eden and other English representatives with President Eisenhower, John Foster Dulles, and the US Central Intelligence Agency.

     The alliance was to be formed for the purpose of replacing an Iranian PM, Dr Mohammed Mossadegh. Mossadegh had already attempted to expel his monarch, replacing him with himself, and he had formed an alliance of his own with the Soviet Union to achieve the result he wanted. The wily old man, variously estimated to be between 71-80 years old in 1953, thought the affair to be his own brainchild. Others saw it differently. The real initiative behind that second alliance came, in cold fact, from the Russians. Many Mossadegh supporters realized this. In recent months the Iranian Communist party – the Tudeh – had strengthened its control over the ‘Mossadegh movement.’

     Recognition of that fact, and of the dangers it presented, was bringing together the USA, England and major elements in Iran. These elements, I was convinced, included the Shah, the bulk of the armed forces and an overwhelming majority of the people.

     The original proposal for AJAX came from English Intelligence after all efforts to get Mossadegh to reverse his nationalization of the Anglo-Iranian Oil Company had failed. The English motivation was simply to recover the AIOC oil concession. We were not concerned with that but with the obvious threat of Russian takeover.

     I took the shuttle bus… to the CIA headquarters at 2430 E St, where I was to meet the Director, Allen Welsh Dulles. From there we went in the agency cadillac to the State Department office of Allen’s brother, John Foster Dulles…

     Inside JFD’s office an impressive assembly was already gathered. The Under Secretary of State, General Walter Bedell (“Beedle”) Smith, had been Allen’s predecessor as Director of the CIA… Beedle, as I knew well, was personally inclined to favor clandestine operations. In some respects he was a forthright man… But in other ways he had a devious mind. To this side of him, covertness, the hidden approach, had a strong appeal. Operation AJAX might, in crucial areas, be suspiciously undefined. Nevertheless it was exactly ‘his dish of tea,’ an expression he was fond of using. I was totally confident of his approval.

     One of Beedle’s deputies was seated next to him, H Freeman (‘Doc’) Matthews… Robert Richardson Bowie, sitting beside Doc, was a lawyer and, between other assignments, a professor, first of law, later of international relations, at Harvard University. At that time he was director of the State Department’s policy planning staff. Later, 1966-68, he served as Counselor to the Department. Still later, President Carter appointed him a Deputy Director of the CIA…

     At his right, at the end of the table, was Henry (‘Hank’) Byroade. Since his first ambassadorial post (to Egypt 1955-6) he has been ambassador to more posts than any other man in US diplomatic, history – South Africa, Afghanistan, Burma, the Philippines, Pakistan. At that time he was Assistant Secretary of State in charge of NEA (Near East, Africa & South Asia, which has since lost Africa to a separate division).

     [The paper] was the result of conversations with the English. But far more important were the meetings I had held in the Middle East with 4 of our own key people. None of them was to play any part in the actual operation. Nonetheless – if the damn thing was ever going to be approved – they would have made major contributions to its success. They were all old Iran hands. One had spent the years before and during WW2 in the country, now chief of the Agency’s Iranian desk in Washington. Two of the others were consultants – ‘cleared’ outsiders who also knew the country intimately and on whom we could call for information or advice as needed. The fourth was still my number-1 man in the region…

     On my side of the table, at the far left, was Ambassador Robert D Murphy, who was Deputy Under Secretary for Political Affairs. I had known him since WW2, when he had been in charge of clandestine preparations for the Allied landing in North Africa. This operation, TORCH, had represented a major contribution to the first really big Allied victory of the war… Thus Bob Murphy was, of the State Department people present, the only one with any experience in undercover operations…

     Next to him was the Secretary of Defense, Charles (‘Engine Charlie’) Wilson… and a military aide, whose name I can’t remember, between him and Ambassador Loy Henderson, who sat next to me. Loy was, without question, a key person in the meeting. He had rushed to Washington from his Teheran post for the express purpose of offering his recommendations. JFD might decide, but Loy would be most influential in that decision.

     Loy had been first an acquaintance of mine… I had worked for Dean Acheson while he was Assistant Secretary for Economic Affairs. Loy was then in charge of the office concerned with our recently acquired ally, the Soviet Union. Loy had served in Moscow before the war. He knew the Russians well; he distrusted them profoundly. I encountered him later when he was Ambassador in Baghdad, and after that in New Delhi. He feared that Iran under the leadership of Mossadegh was slipping under Russian control. He believed this would be a grave blow to the West and constitute an eventual danger to US national security. I doubt he was ever really optimistic about our prospects of success, but he saw no other course that offered equal hope. He gave our proposal his thoughtful and deliberate support…

     Foster Dulles was finally finished with his telephones. He got up from his desk and settled himself at the head of our table, with brother Allen on his right and me on his left. Picking up the thick paper placed in front of him, he looked casually around the group and said, ‘So this is how we get rid of that madman Mossadegh!’…

     That part of the plan which concerned the Iranian military had been checked out most discreetly with the Pentagon. To the best of my knowledge it had met with enthusiastic backing… Allen and I were, of course, aware that most of the assembled group were strongly pro-Israeli. So one of the points we emphasized… was Iran was not an Arab country. It did, in fact, have excellent though informal relations with Israel. These relations became closer in later years when certain Israeli friends discreetly joined the CIA in helping to organize and give guidance to a new Iranian security service. This informal Israeli action was entirely ‘under the table,’ essentially a clandestine operation – but it was of great value to the Iranians. (William Colby, former Director of the CIA, speaking to students at Utah State University: ‘Colby said the CIA created SAVAK, the Iranian police force [sic], and taught it proper methods of intelligence.’ – Logan (Utah) Herald Journal, November 10, 1978, also see ee Security, US ruling class preparing citizens for catastrophic world war)

     Eventually, when Foster Dulles had flicked the last page over, he leaned back, pushed his glasses up and looked, this time, at me… ‘First, you gentlemen do know, I assume, where Iran is and what it is.’ He was now speaking to us like a schoolmaster. ‘Persia, as it used to be named, has been throughout history the bridge between Far Eastern Asia and the lands of the Mediterranean and Europe. Although her importance as a trade route declined after the construction of the Suez Canal in the 1860s, her strategic location has made her a bone of contention among great powers – always Russia, often France and Germany, now England and, by association, the US.

     ‘Today it covers an area over 600,000 sq.miles. This is a lot less than it’s been, for 19thC wars lost her considerable territory. But Iran is still called an empire and the Shahanshah, ‘King of Kings.’ The ’empire’ lies between the Caspian Sea on the north and the Persian Gulf on the south. It has common frontiers with, running west to east, Turkey, Iraq, Soviet Russia, Afghanistan and Pakistan. Looked at in another way, being tucked against the southern border of the Soviet Union, it does block Russian access to a warm-water port. Of course they have the Black Sea, but this is separated from the outer world by the Bosporus and Dardanelles. These are held by the Turks, a cantankerously independent-minded people on whom the Russians have learned not to rely. If they could control Iran, they would control the Persian Gulf. This has been their dream, their chief ambition, ever since the days of Peter the Great. he noted dryly, ‘a good many years ago, about two and a half centuries.’

     ‘In closing, I would like to emphasize what has already been pointed out. Iran is not an Arab country and its relations with Arab neighbors, particularly Iraq, have often been most troublesome. So we do not want to confuse the issue with worries about Israel. Israel must be as interested as we are in keeping the Russians out of Iran. And, of course, most Arabs are too.

     ‘Now, over to you, Mr. Roosevelt.’ He bowed, half mockingly, in my direction. – Excerpts from Chapter 1.

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C. News Index______________________________________________

ee News Index provides headlines & links to make sense of the weekly focus of published English ‘business news’ to expose the backwardness of multinational, corporate controlled ‘local media’:

C1. Sovereignty

(ee is pro-politics, pro-politician, pro-nation-state, anti-corporatist, anti-expert, anti-NGO)

ee Sovereignty news emphasizes sovereignty as economic sovereignty – a strong nation is built on modern (machine-making) industrialization fueled by a producer culture.

• Violence is part of overall strategy to pave the way for foreign military intervention: NFF

‘Sri Lanka could end up as the Libya of South Asia or the 29th state of India’

– island.lk/nff-asks-for-creation-of-conducive-environment-to-vote-in-new-prez/

• US Military’s third phase training in Indian Ocean

– ceylontoday.lk/2022/07/04/odcs-sea-vision-third-phase-training-concludes-successfully/

• Days before “Gota Go Gama”, US ambassador said, ‘Sri Lankans have a right to protest…’

– bizenglish.adaderana.lk/kamsahamnida-madam-coracanas-foolish-but-selfish-what-about-sri-lankans/

• Indians protest in solidarity with SL people – AFP

‘outside the Sri Lankan embassy in New Delhi on 14 July…’

– ft.lk/news/Indians-protest-in-solidarity-with-SL-people/56-737522

• Peaceful transfer of power essential: US Ambassador

– timesonline.lk/news-online/Peaceful-transfer-of-power-essential-US-Ambassador/2-1138096

• We condemn all violence & call for the rule of law to be upheld – US Ambassador

– lankaweb.com/news/items/2022/07/14/we-condemn-all-violence-call-for-the-rule-of-law-to-be-upheld-us-ambassador/

• US Human Rights Watch wants authorities to protect rights of protesters

– island.lk/human-rights-watch-wants-authorities-to-protect-rights-of-protesters/

• US Fingerprints Found Behind Sri Lanka Unrest

‘A “digital strategist” given credit by the Western media for the successful toppling of the SL government was a “volunteer” at a US National Endowment for Democracy-funded “election” organization.’

– youtube.com/watch?v=Ysy6qrXi0m0

• Former Trump adviser John Bolton admits to planning foreign coups

– island.lk/former-trump-adviser-john-bolton-admits-to-planning-foreign-coups/

• Sri Lanka, Japan, &Ukraine

– youtube.com/watch?v=bOC7idOdT6A

• Pohottu As USA’s Proxy Part 6A&B

– lankaweb.com/news/items/2022/07/11/pohottu-as-usa-s-proxy-part-6a/

– lankaweb.com/news/items/2022/07/11/pohottu-as-usa-s-proxy-part-6b/

• July 9 & the Western Plan – Nalin de Silva

‘July 9 started a few months after Gotabaya became president. With the Sir Fail project. At that time Gotabaya cannot be said to have passed or failed.’

– kalaya.org/2022/07/9.html

• Foreign banks refuse to open letters of credit (LoC) for fuel purchases from Russia

– sundaytimes.lk/220710/news/plans-to-buy-russian-oil-hits-several-snags-488651.html

• US ‘rejects’ GR’s visa request after recent ousting by mass protests (The Hindu)

– dailymirror.lk/latest_news/U-S-rejects-GRs-visa-request-after-recent-ousting-by-mass-protests/342-240923

• Sri Lanka President Near Airport As Exile Rumours Spread

– lankaweb.com/news/items/2022/07/11/sri-lanka-president-near-airport-as-exile-rumours-spread/

• Sri Lanka: President Gotabaya Rajapaksa flees the country on military jet (BBC)

– lankaweb.com/news/items/2022/07/12/sri-lanka-president-gotabaya-rajapaksa-flees-the-country-on-military-jet/

– dailymirror.lk/latest_news/President-flees-the-country-on-a-military-jet/342-240937

• President Gotabaya arrives in Maldives: reports

– adaderana.lk/news/83609/president-gotabaya-arrives-in-maldives-reports

• India denies reports that it helped President Rajapaksa flee to Maldives

– adaderana.lk/news/83617/india-denies-reports-that-it-helped-president-rajapaksa-flee-to-maldives

• India says it supports early political solution in Sri Lanka

– ft.lk/front-page/India-says-it-supports-early-political-solution-in-Sri-Lanka/44-737578

• Sri Lanka to face human rights rules on exports to Germany from Jan 23

– economynext.com/sri-lanka-to-face-human-rights-rules-on-exports-to-germany-from-jan-23-97411/

• English MP calls for international arrest warrant on Gotabaya Rajapaksa and “cronies”

– themorning.lk/british-mp-calls-for-international-arrest-warrant-on-gotabaya-rajapaksa-and-cronies/

• English MPs moot global arrest warrant on Gotabaya

‘England is the joint 5th-largest shareholder in the IMF and a major contributor to UN and World Bank’

– ft.lk/front-page/British-MPs-moot-global-arrest-warrant-on-Gotabaya/44-737534

• Commonwealth urges Sri Lankan leaders to safeguard democratic governance

– ft.lk/front-page/Commonwealth-urges-Sri-Lankan-leaders-to-safeguard-democratic-governance/44-737533

• Maldives officials say President Rajapaksa taking Saudi Airlines plane to Singapore and then Saudi Arabia

– abcnews.go.com/International/wireStory/maldives-officials-sri-lankas-president-rajapaksa-taking-saudi-86793060

• Singapore confirms Prez arrives there

– dailymirror.lk/latest_news/Singapore-confirms-Prez-arrives-there/342-241093

• Plane said to carry Sri Lanka’s President most-tracked in world

– island.lk/plane-said-to-carry-sri-lankas-president-most-tracked-in-world/

• Saudi plane with Sri Lanka President Rajapaksa lands in Singapore

– economynext.com/saudi-plane-with-sri-lanka-president-rajapaksa-lands-in-singapore-97422/

• Islamic Caliphate: Lankan crisis could spell bigger troubles for India

– island.lk/islamic-caliphate-lankan-crisis-could-spell-bigger-troubles-for-india/

• Missile project not aimed at Sri Lanka: India (2012)

– newindianexpress.com/world/2012/sep/28/missile-project-not-aimed-at-sri-lanka-india-410406.html

• China hopes Sri Lankans bear in mind fundamental interests of their country

– island.lk/china-hopes-sri-lankans-bear-in-mind-fundamental-interests-of-their-country/

• 120 Sri Lanka-bound flights diverted to Kerala’s Thiruvananthapuram and Kochi airports

– freepressjournal.in/india/120-flights-sri-lanka-flights-diverted-to-kerala-aviation-minister-scindia-lauds-trivandrum-and-kochi-airports

• India to support early solution in SL through democratic means: Indian HC

‘India also categorically denied having any role in facilitating the departure or travel of former President Gotabaya Rajapaksa from Sri Lanka,the statement added.’

– dailymirror.lk/breaking_news/India-to-support-early-solution-in-SL-through-democratic-means-Indian-HC/108-241166

• SL Deputy High Commissioner in Chennai meets Chief Minister and Governor of Kerala

– ft.lk/news/Deputy-High-Commissioner-of-Sri-Lanka-in-Chennai-meets-Chief-Minister-and-Governor-of-Kerala/56-737564

• UN chief asks SL leaders to embrace spirit of compromise for peaceful, democratic transition

– lankaweb.com/news/items/2022/07/14/un-chief-asks-sri-lankan-leaders-to-embrace-spirit-of-compromise-for-peaceful-democratic-transition/

• India’s takeaways from Bali ministerial

“This is the beginning of the transition from liberal-globalist US egocentrism to a truly multipolar world – Putin”

– indianpunchline.com/indias-takeaways-from-bali-ministerial/

• Biden’s I2U2 summit diminishes India

– indianpunchline.com/bidens-i2u2-summit-diminishes-india/

• Myanmar MiG-29 Crosses into Thai Airspace: The Rest of the Story

‘violent opposition movements in Myanmar, Thailand, and beyond are part of a wider proxy conflict the United States is waging against China.’

– journal-neo.org/2022/07/08/183734/

• China willing to ‘recalibrate’ strained Australia ties, FM says

– island.lk/china-willing-to-recalibrate-strained-australia-ties-fm-says/

• Why Iran Providing Drones to Russia for War is a Diplomatic Failure of Biden Administration

– juancole.com/2022/07/provision-diplomatic-administration.html

• No, Iran Will Not Deliver Armed Drones To Russia

– moonofalabama.org/2022/07/no-iran-will-not-deliver-armed-drones-to-russia.html

• Putin’s summits next week will strengthen ties with Iran, Turkey – Bhadrakumar

– indianpunchline.com/putins-summits-next-week-will-strengthen-ties-with-iran-turkey/

• Biden’s Incoherent Iran Policy

– cato.org/multimedia/power-problems/bidens-incoherent-iran-policy

• US weighs resumption of offensive arms sales to Saudis, sources say

– reuters.com/world/us/exclusive-us-weighs-possible-resumption-offensive-arms-sales-saudis-sources-2022-07-11/

• Ukraine SitRep – Additional Defense Lines, A Failed Counterattack, Weapon Deliveries

– moonofalabama.org/2022/07/ukraine-sitrep-further-defense-lines-a-failed-counterattack-weapon-deliveries.html

• Ukraine peace talks on the cards?

– indianpunchline.com/ukraine-peace-talks-in-the-cards/

• The Dangerous US Opposition to Eurasian Integration

‘Four non-NATO countries – Australia, Japan, New Zealand and South Korea (the Asia-Pacific Four) – attended the NATO summit for the first time, which drew them closer to the U.S. and NATO’s agenda to put pressure on China’

– consortiumnews.com/2022/07/08/the-dangerous-us-opposition-to-eurasian-integration/

• German support for Russia sanctions remains steady — but can it last?

– dw.com/en/germans-support-for-russia-sanctions-remains-steady-but-can-it-last/a-62408344

• NATO and Africa: “forcing Africa to contribute to its own militarization”

– blackagendareport.com/nato-and-africa

• One Year After a Brutal Crackdown, the Struggle for Democracy Remains Alive in Swaziland

– blackagendareport.com/one-year-after-brutal-crackdown-struggle-democracy-remains-alive-swaziland

• US Interference in Cuba on July 11, 2021

– blackagendareport.com/us-interference-cuba-july-11-2021

• Black Alliance For Peace Denounces Biden Regime’s New Sanctions on Cuba and Stands with the Cuban People

– blackagendareport.com/black-alliance-peace-denounces-biden-regimes-new-sanctions-cuba-and-stands-cuban-people

• Open Letter to Andrés Manuel López Obrador (AMLO), President of Mexico, on the Renewal of the UN Occupation of Haiti

– blackagendareport.com/open-letter-his-excellency-mr-andres-manuel-lopez-obrador-amlo-president-mexico-renewal-un

• Down with the Bestial Atrocities Against Blacks in Buffalo, New York! 1980

– blackagendareport.com/editorial-down-bestial-atrocities-against-blacks-buffalo-new-york-1980

• Does the US face a bottomless pit of military aid as Ukraine crisis drags on?

– globaltimes.cn/page/202207/1270260.shtml

• Unbelievable Clip Exposes US Foreign Policy

– youtube.com/watch?v=5dzVi9BeDQY

• US-led Imperialism is the World’s Leading Purveyor of Chaos

– blackagendareport.com/us-led-imperialism-worlds-leading-purveyor-chaos

Harpers Declares It’s Over – The ‘American Century’ Is Gone

– moonofalabama.org/2022/07/harpers-declares-its-over-the-american-century-is-gone.html

• Empire Burlesque – What comes after the American Century?

– harpers.org/archive/2022/07/what-comes-after-the-american-century/

________________________________________________________________

C2. Security (the state beyond ‘a pair of handcuffs’, monopolies of legitimate violence)

ee Security section focuses on the state (a pair of handcuffs, which sposedly has the monopoly of legitimate violence), and how the ‘national security’ doctrine is undermined by private interests, with no interest in divulging or fighting the real enemy, whose chief aim is to prevent an industrial renaissance as the basis of a truly independent nation.

• US ruling class preparing citizens for catastrophic world war

‘Council on Foreign Relations (CFR) is the ultimate agenda-setting, strategic planning, and consensus-forming organization of the U.S. capitalist ruling class.’

– monthlyreview.org/2022/05/01/giving-war-a-chance/

• Sri Lanka slipping into anarchy: South Asia Initiatives at the Asia Society Policy Institute

– lankaweb.com/news/items/2022/07/13/sri-lanka-slipping-into-anarchy/

• The protesters have ransacked the President’s House.

– dailymirror.lk/print/front_page/The-protesters-have-ransacked-the-Presidents-House/238-241177

• BASL Silent on Threats to Police Officials’ Homes

– island.lk/let-sanity-prevail-2/

• Destructive Vengeance Beyond Reason in Sri Lankan Protest

– lankaweb.com/news/items/2022/07/14/destructive-vengeance-beyond-reason-in-sri-lankan-protest/

• Anarchical elements and the youth with genuine grievances must not be lumped together

– island.lk/tread-cautiously/

• Air Force confirms providing military jet for President to leave to Maldives

– ft.lk/news/Air-Force-confirms-providing-military-jet-for-President-to-leave-to-Maldives/56-737458

• Russian film crew covers destruction of PM’s Home

– videopress.com/embed/ZRFMOr5l

• Nod given for use of lethal force

– island.lk/nod-given-for-use-of-lethal-force/

• Army gets tough; empowers soldiers to use force to protect lives, State property

– ft.lk/news/Army-gets-tough-empowers-soldiers-to-use-force-to-protect-lives-State-property/56-737524

• Armed forces, Police given powers to search for firearms seized from military by protesters

– ft.lk/news/Armed-forces-Police-given-powers-to-search-for-firearms-seized-from-military-by-protesters/56-737574

• Defence Ministry orders law and order, normalcy

– ft.lk/news/Defence-Ministry-orders-law-and-order-normalcy/56-737575

• Sirisena urges security forces to think twice before following Gota’s, RW’s orders

– island.lk/sirisena-urges-security-forces-to-think-twice-before-following-gotas-rws-orders/

• Anglo-US Amnesty International opposes authorisation of military to use force

– island.lk/amnesty-opposes-authorisation-of-military-to-use-force/

• 55 people injured in demo at PM’s house; three suffer gunshot injuries

‘Sirasa Television live coverage and news telecast said six of its journalists were injured in an attack by the Police Special Task Force outside the Prime Minister’s private residence off Thurstan road’

– sundaytimes.lk/220710/news/55-people-injured-in-demo-three-suffer-gunshot-injuries-488657.html

• Over 80 injured from yesterday’s unrest (July 14)

– timesonline.lk/news-online/Over-80-injured-from-yesterdays-unrest/2-1138097

• Deputy National Security Adviser level Colombo Security Conclave (India, the Maldives, Mauritius and Sri Lanka) held on July 7 in India

– island.lk/terrorism-radicalisation-and-need-for-bread/

• Security forces want a political solution

– island.lk/security-forces-want-a-political-solution/

• Protesters brutally assault soldiers, steal two T-56 weapons along with ammunition: Army

– dailymirror.lk/breaking_news/Protesters-brutally-assault-soldiers-steal-two-T-56-weapons-along-with-ammunition-Army/108-241078

• General Silva visits injured soldiers

– dailymirror.lk/caption_story/General-Silva-visits-injured-soldiers/110-241099

• The People vs. State machinery?

‘Reports of clashes between police, military and civilians have increased over the past month.’

– dailymirror.lk/recomended-news/The-People-vs-State-machinery/277-240406

• Army vehicles head towards Sri Lankan Parliament

– lankaweb.com/news/items/2022/07/14/army-vehicles-head-towards-sri-lankan-parliament/

– embed.indiatoday.in/share/video/embed/3037

• The People vs. State machinery?

– dailymirror.lk/news-features/The-People-vs-State-machinery/131-240406

• International partners urge Sri Lanka to uphold law after unprecedented political crisis

– economynext.com/international-partners-urge-sri-lanka-to-uphold-law-after-unprecedented-political-crisis-97470/

• Then Defence Minister looked the other way and allowed Easter Sunday attacks: Fonseka

– sundaytimes.lk/220710/columns/president-departs-amid-go-home-gota-chants-sjb-npp-say-ready-to-form-govt-488523.html

• Jaliya’s confession and Gota’s failed attempts to protect him

– dailymirror.lk/expose/Jaliyas-confession-and-Gotas-failed-attempts-to-protect-him/333-241038

• Transparency International Sri Lanka (TISL) requests travel ban for six respondents including Mahinda Basil

– ceylontoday.lk/2022/07/12/tisl-requests-travel-ban-for-six-respondents-including-mahinda-basil/

• ‘Fueling the Warfare State – US $1.4 Trillion “National Security” Budget Makes Us Ever Less Safe’

– tomdispatch.com/fueling-the-warfare-state/

• $2-Trillion for War Versus $100-Billion to Save the Planet

– socialistproject.ca/2022/07/2-trillion-for-war-100-billion-to-save-planet/

• Will The Ukraine Conflict Turn Private?

‘The expanding use of private military and security companies in recent years suggests that they may take a leading role as the Ukraine conflict develops’

– newsclick.in/will-the-ukraine-conflict-turn-private

• Is Paul Mason’s parliamentary run a Trojan Horse for British intelligence?

– thegrayzone.com/2022/07/16/paul-masons-parliamentary-trojan-horse-british-intelligence/

• FBI Still Targets Black People for Entrapment

– blackagendareport.com/fbi-still-targets-black-people-entrapment

• New Arizona law makes it illegal to film police

– radiohc.cu/en/noticias/internacionales/293402-new-arizona-law-makes-it-illegal-to-film-police

_____________________________________________________________

C3. Economists (Study the Economists before you study the Economics)

ee Economists shows how paid capitalist/academic ‘professionals’ confuse (misdefinitions, etc) and divert (with false indices, etc) from the steps needed to achieve a modern industrial country.

• Advocata Chairman Jafferjee submits National Movement for Social Justice economic program

‘The economy should run on a market system.’

– sundaytimes.lk/220710/business-times/sls-predicament-70-mismanagement-and-30-misfortune-488239.html

• Wanted ex-CBSL governor speaks to CNN about Sri Lanka’s crisis situation

– adaderana.lk/news/83608/wanted-ex-cbsl-governor-speaks-to-cnn-about-sri-lankas-crisis-situation

• Supreme Court issues travel ban on former Central Bank governor W.D. Lakshman

– island.lk/mahinda-and-basil-wont-leave-sri-lanka-until-sc-hears-petition-their-lawyers-say/

• Future of a post-Rajapakse Sri Lanka: No one has answers to dealing with the economy

– lankaweb.com/news/items/2022/07/13/future-of-a-post-rajapakse-sri-lanka/

• Longer the IMF bailout takes, the longer the current shortage of essentials

– sundaytimes.lk/220710/columns/the-heat-is-on-a-beleaguered-president-increasingly-being-isolated-488584.html

• Who will take the mantle of negotiating with the IMF?

– sundaytimes.lk/220710/editorial/unceasing-waves-and-uncertainties-488578.html

• IMF in two minds on bailout loan to Sri Lanka, economists say

– sundaytimes.lk/220710/business-times/imf-in-two-minds-on-bailout-loan-to-sri-lanka-economists-say-488208.html

• Sri Lanka’s Bailout Slips Further Away as Nation Misses a Leader – Bloomberg

‘Investors are shifting their focus to Sri Lanka’s bilateral creditors…“The role of the central bank governor now is key…”’

– bizenglish.adaderana.lk/sri-lankas-bailout-slips-further-away-as-nation-misses-a-leader/

• IMF says talks with Sri Lanka ‘interrupted’ by unrest

– lankaweb.com/news/items/2022/07/14/imf-says-talks-with-sri-lanka-interrupted-by-unrest/

• IMF calls for socio-political stability in Sri Lanka

– timesonline.lk/news-online/IMF-calls-for-socio-political-stability-in-Sri-Lanka/2-1138108

• IMF hopes to soon resume Sri Lanka high-level discussions

‘The International Monetary Fund is still in contact with officials at technical levels’

– bizenglish.adaderana.lk/imf-hopes-to-soon-resume-sri-lanka-high-level-discussions/

– dailymirror.lk/breaking_news/IMF-hopes-to-soon-resume-Sri-Lanka-high-level-discussions/108-241215

– ft.lk/front-page/IMF-hopes-to-soon-resume-Sri-Lanka-high-level-discussions/44-737584

• Fitch places SL Under Criteria Observation (UCO) after publishing final sovereign rating criteria

– ft.lk/front-page/Fitch-places-Sri-Lanka-UCO-after-publication-of-final-sovereign-rating-criteria/44-737580

– economynext.com/sri-lanka-local-currency-rating-under-observation-fitch-97446/

• A radical change to fix the economy – Sunil Abhayawardhane

– factum.lk/health-and-economic-cooperation/factum-perspective-a-radical-change-to-fix-the-economy/

• Initial consensus among MPs on recovery plan: Godahewa

– island.lk/initial-consensus-among-mps-on-recovery-plan/

• China will agree to US$4 billion aid for Sri Lanka ’at some point’: Kohona

– dailymirror.lk/breaking_news/China-will-agree-to-US-4-billion-aid-for-Sri-Lanka-at-some-point-Kohona/108-241165

– dailymirror.lk/business-news/China-will-agree-to-US-4bn-aid-for-Sri-Lanka-at-some-point-Bloomberg-News/273-241212

• China to play positive role in supporting SL: Wang Wenbin

– dailymirror.lk/breaking_news/China-to-play-positive-role-in-supporting-SL-Wang-Wenbin/108-241170

• Colossal Deception: Gross Lies about Sources of SL Debt Burden foisted on World by Western Agencies

– thuppahis.com/2022/07/12/colossal-deception-gross-lies-about-sources-of-sri-lankas-debt-burden-foisted-on-the-world-by-western-agencies/

• Debt Trap Diplomacy – Who Really Owns Sri Lanka’s Debt? The USA

– youtube.com/watch?v=sDM7tpLc5iI

• Sri Lanka: Debt Trap Diplomacy & Putin Price Hikes? Or Something Else?

– youtube.com/watch?v=cJahAWNfYG0

• How Sri Lanka Is Caught In A Western Debt Trap

– Indi.ca

• Unsubstantiated Corruption Internationalised: Past haunts

– dailymirror.lk/opinion/Corruption-internationalised-Past-haunts/172-240665

• Central Bankers Union back Aragalaya, suggest way forward for economy, IMF program

– ft.lk/news/Central-Bankers-back-Aragalaya-suggest-way-forward-for-economy-IMF-program/56-737387

• CB chief stresses need for fiscal and monetary measures

Talks with the IMF are continuing virtually and most of their expectations are being met, he said expressing confidence that a staff level agreement will be reached within a short period of time.’

– sundaytimes.lk/220710/business-times/cb-chief-stresses-need-for-fiscal-and-monetary-measures-488205.html

• CB Governor signals he will stay in job, warns turmoil impedes IMF talks

– dailymirror.lk/business-news/CB-Governor-signals-he-will-stay-in-job-warns-turmoil-impedes-IMF-talks/273-240895

• The main task of the Central Bank is to stop hyperinflation: Governor

‘As inflation increases it is mainly the poor, pensioners, and those with fixed incomes that will be most affected, he said.’

– island.lk/gota-goes-plunging-country-into-chaos/

– sundaytimes.lk/220710/business-times/low-value-currency-488288.html

• Prospects of SL securing IMF bailout remain bright despite political unrest: former World Bank (WB) Chief Economist Shanta Devarajan

– dailymirror.lk/business__main/Prospects-of-SL-securing-IMF-bailout-remain-bright-despite-political-unrest/245-241049

• Possible recession in eurozone likely to worsen SL’s forex woes

‘eurozone recession could negatively affect SL’s export and tourism sectors’

– dailymirror.lk/breaking_news/Possible-recession-in-eurozone-likely-to-worsen-SLs-forex-woes/108-241216

• IMF will gain confidence of international financial markets and boon export sector: EDB Chief

– island.lk/common-man-doesnt-want-to-see-country-jumping-from-the-frying-pan-into-the-fire-says-edb-chief/

• The Tragedy of Export Development – Kulatunga

– lankaweb.com/news/items/2022/07/14/the-tragedy-of-export-development/

• The dollar crisis – Kulatunga

– lankaweb.com/news/items/2022/07/12/the-dollar-crisis/

• End casino capitalism: Sri Lanka to join global minimum tax agreement

– ft.lk/columns/End-casino-capitalism-Sri-Lanka-to-join-global-minimum-tax-agreement/4-737492

• ‘The country is going bankrupt’ – is a false assertion

‘when a country fails to repay its debts, it does not go bankrupt; instead, it defaults on the loan. Second, the government, not the country, defaults’

– lankaweb.com/news/items/2022/07/09/apt-question-by-shenali-waduge/

• SOE reforms vital, although monetary policies to put SL’s economy on right track are on – CBSL Governor

– island.lk/soe-reforms-vital-although-monetary-policies-to-put-sls-economy-on-right-track-are-on-cbsl-governor/

• 3 reasons why international support for SL is forthcoming slowly: policy advisor explains

– island.lk/3-reasons-why-international-support-for-sri-lanka-is-forthcoming-slowly-policy-advisor-explains/

• New economic policies for SL – Priyantha Hettige

‘Profits from existing projects need to be ploughed back into the next generation of projects to bring about a higher standard of living…’

– island.lk/new-economic-policies-for-sl/

• Sri Lanka has financial literacy of around 35%

– island.lk/where-are-we-in-terms-of-financial-literacy/

• Inbuilt IMF solution to any deal is Structural Adjustment – Sivamohan

– island.lk/the-debacle/

• Reckless reliefs have benefited the ultra-rich corporates – U. Pethiyagoda

– island.lk/the-financial-crisis-mismanagement-fear-or-collusion/

• Delay, doubt, difficulties and uncertainty in foreign assistance – Sanderatne

‘position of the US would influence not only the IMF. It can also influence other countries like Canada, Britain, Japan and Australia, and also the European Union (EU).’

– sundaytimes.lk/220710/columns/delay-doubt-difficulties-and-uncertainty-in-foreign-assistance-488572.html

• The Victory Of Aragalaya: What Actually Happened To Gota & Ranil? – Wijewardena

‘IMF staff level agreement will not be reached by end-August as he had envisaged.’

– colombotelegraph.com/index.php/the-victory-of-aragalaya-what-actually-happened-to-gota-ranil/

• Child’s guide to true cost of activities: Concept of opportunity cost – Wijewardena

– ft.lk/columns/Child-s-guide-to-true-cost-of-activities-Concept-of-opportunity-cost/4-736994

• Corruption, gross mismanagement and weak control systems are root causes of financial crises

– island.lk/constitutional-mechanisms-to-prevent-and-mitigate-financial-crises/

• Dhammika Perera Antics – Only Oligarch In Sri Lanka!

– colombotelegraph.com/index.php/dammika-perera-antics-only-oligarch-in-sri-lanka/

• Casino operators owed Rs.2.67 billion in taxes to the Inland Revenue Department as of 2021.

– sundaytimes.lk/220710/columns/knives-come-out-for-ranil-as-dhammika-back-stabs-488437.html

• A strong case to open out the import and distribution of fuel in Sri Lanka – Abeyratne

– sundaytimes.lk/220710/business-times/road-to-fuel-crisis-488259.html

• Sri Lanka’s internal war cost US$ 200 billion (2016)

– newindianexpress.com/world/2016/dec/13/sri-lankas-internal-war-cost-us-200-billion-1548433.html

• Sri Lanka PM: This is how I will make my country rich by 2025 (2018)

– web.archive.org/web/20190122012624/weforum.org/agenda/2018/08/this-is-how-we-will-make-sri-lanka-rich-by-2025/

• Lankan bureaucracy needs to do more to ensure good governance

‘21 key government agencies and 23 key legislative Acts govern the export and import of goods.’

– dailymirror.lk/opinion/Lankan-bureaucracy-needs-to-do-more-to-ensure-good-governance/172-240877

• Sri Lanka’s Economic Crisis and Uncertain Future

– newsclick.in/sri-lankas-economic-crisis-and-uncertain-future

• Rampaging inflation

The government has announced the formation of a Cabinet Sub-Committee on Cost of Living headed by the President and including the Prime Minister and other ministers.’

– sundaytimes.lk/220710/business-times/rampaging-inflation-488264.html

• Learnings for Sri Lanka on SOE reforms from Malaysia’s Khazanah

– dailymirror.lk/features/Learnings-for-Sri-Lanka-on-SOE-reforms-from-Malaysias-Khazanah/185-240884

• Mahathir: Deeper currency markets have cut risk of Asian financial crisis repeat

‘”Devalue the currency by 50% and people become poor,” he said. “You can’t allow that.”

– asia.nikkei.com/Spotlight/Market-Spotlight/Mahathir-Deeper-currency-markets-have-cut-risk-of-Asian-financial-crisis-repeat

• Show the entire Indo-Pacific it pays to deal with the USA rather than China or Russia,”

– sundaytimes.lk/220710/columns/how-not-to-run-the-economy-a-lesson-from-lanka-for-the-region-488590.html

• SL economic collapse ringing ‘alarm bells’ for emerging markets: Atlantic Council GeoEconomics Director

‘countries are looking to the Paris Club – a group of Western creditors who help EMs with restructuring and financing – for debt relief. The issue is that China is not a member of the Paris Club, and the institution does not want to forego payment obligations to China.’

– ft.lk/front-page/Sri-Lanka-s-economic-collapse-ringing-alarm-bells-for-emerging-markets-Expert/44-737526

• Public awareness needs to be raised of virtual currencies in Sri Lanka – CBSL

– island.lk/public-awareness-needs-to-be-raised-of-virtual-currencies-in-sri-lanka-cbsl/

• German economy, engine of Europe, splutters

‘Germany has saved money on war and infrastructure while helping exporters by keeping wages low and importing cheap gas from Russia, he said. “But it wasn’t investing the money. Instead it was using it to hide an erosion of prosperity’

– gulf-times.com/story/720763/German-economy-engine-of-Europe-splutters

• US Prison in Plain Sight: Visualizing the Economic Veins That Fuel Our Carceral Reality

– blackagendareport.com/prison-plain-sight-visualizing-economic-veins-fuel-our-carceral-reality

• Energy: the recession trigger? – Roberts

‘a Marxist analysis of slumps. First, profitability declines, particularly in the productive sector, then profits in total. This leads to a fall in investment by companies and then the laying off of labour and a reduction in wages.’

– thenextrecession.wordpress.com/2022/07/13/energy-the-recession-trigger/

• Excessive credit, rentier capital and crises (2017) – Roberts

‘for Hudson, the problem of capitalism is not one of profitability and the striving to extract surplus-value out of the productive labour force but one the extraction of ‘rents’ out of industry by landowners and financiers.’

– thenextrecession.wordpress.com/2017/05/29/excessive-credit-rentier-capital-and-crises/

• The End of Western Civilization: Hudson

– moonofalabama.org/2022/07/michael-hudson-the-end-of-western-civilization.html

• The End of Western Civilization – Why It Lacks Resilience, and What Will Take Its Place: Hudson

– nakedcapitalism.com/2022/07/michael-hudson-the-end-of-western-civilization-why-it-lacks-resilience-and-what-will-take-its-place.html

• From Junk Economics to a False View of History – Where Western Civilization Took a Wrong Turn: Michael Hudson

– nakedcapitalism.com/2022/07/michael-hudson-from-junk-economics-to-a-false-view-of-history-where-western-civilization-took-a-wrong-turn.html

____________________________________________

C4. Economy (Usually reported in monetary terms)

ee Economy section shows how media usually measures economy by false indices like GDP, etc., in monetary terms, confusing money and capital, constantly calling for privatization, deregulation, moaning about debt & balance of payments, without stating the need for modern industrial production.

• First Capital joins US Fitch in painting gloomy outlook for country’s banking sector

– dailymirror.lk/business-news/First-Capital-joins-others-in-painting-gloomy-outlook-for-countrys-banking-sector/273-241140

• Treasury outflows surpass inflows by Rs. 650.8 bln

– sundaytimes.lk/220710/business-times/treasury-outflows-surpass-inflows-by-rs-650-8-bln-488253.html

• Exporters, importers shift Rs 13.2 trillion overseas via dodgy invoicing

– sundaytimes.lk/220710/news/exporters-importers-shift-rs-13-2-trillion-overseas-via-dodgy-invoicing-488561.html

• All betting and gaming, including casinos run by Dhammika Perera, are unlicensed

– sundaytimes.lk/220710/news/cabinet-approves-paper-on-much-delayed-casino-regulations-despite-dhammikas-concerns-488653.html

• Sri Lanka faces hyperinflation as inflation surges

‘The Sri Lankan authorities and the Reserve Bank of India are contemplating setting up a dedicated payment mechanism with Sri Lanka to enable Indian exporters to collect payments in Sri Lankan rupees as the country struggles with a worst economic crisis…Under the mechanism, Sri Lankan importers will be allowed to pay for goods to Indian banks in Sri Lanka, and the banks, in turn, would make the payment in Indian rupees to exporters, he disclosed. It will facilitate Sri Lanka to import goods from India as the country’s foreign reserve is dwindling, making it impossible to import essential commodities including food and fuel.’

– sundaytimes.lk/220710/business-times/sri-lanka-faces-hyperinflation-as-inflation-surges-488242.html

• CB warns of return of grey market due to open account exemptions demanded by traders

‘a thriving grey market would also drain the limited foreign exchange into financing non-essential imports, leaving less foreign exchange for the essentials such as fuel imports’

– dailymirror.lk/business-news/CB-warns-of-return-of-grey-market-due-to-open-account-exemptions/273-240888

• Banks brace for shrunk balance sheets amid collapse in private credit

– dailymirror.lk/business-news/Banks-brace-for-shrunk-balance-sheets-amid-collapse-in-private-credit/273-240889

• Economic crisis to test Sri Lanka’s largest banks’ resilience: US Fitch

‘The rating agency expressed these sentiments by reviewing the credit ratings of People’s Bank, Commercial Bank and Hatton National Bank, which form the country’s second, third and fourth largest commercial lenders by assets.’

– dailymirror.lk/latest_news/Economic-crisis-to-test-Sri-Lankas-largest-banks-resilience/342-241043

• Trade deficit shrinks for fifth consecutive month

– ft.lk/front-page/Trade-deficit-shrinks-for-fifth-consecutive-month/44-737392

• Trade deficit shrinks for third consecutive month

– island.lk/trade-deficit-shrinks-for-third-consecutive-month/

• CB rejects most bids for 3-yr bonds as some bids top 44%

– dailymirror.lk/business-news/CB-rejects-most-bids-for-3-yr-bonds-as-some-bids-top-44/273-240891

• Increasing interest in investing in Treasury Bills likely to negatively impact CSE

– island.lk/increasing-interest-in-investing-in-tbs-likely-to-negatively-impact-cse/

• CB Governor believes T-bill auction yields too high

– dailymirror.lk/business-news/CB-Governor-believes-T-bill-auction-yields-too-high/273-241047

• Authorities observe renewed foreign interest in rupee treasuries

– dailymirror.lk/business-news/Authorities-observe-renewed-foreign-interest-in-rupee-treasuries/273-241135

• Treasury Bill rate hikes notably as investors switch to govt. securities

– island.lk/treasury-bill-rate-hikes-notably-as-investors-switch-to-govt-securities/

• Yields in Sri Lanka’s govt securities fall after President Gotabaya resigns

– economynext.com/yields-in-sri-lankas-govt-securities-fall-after-president-gotabaya-resigns-97472/

• Sri Lanka risk free govt security rates fall on political stability hopes

– economynext.com/sri-lanka-risk-free-govt-security-rates-fall-on-political-stability-hopes-97466/

• SL Government policy delays push domestic credit interest rate to highest ever

– themorning.lk/government-policy-delays-push-domestic-credit-interest-rate-to-highest-ever/

• Contrarian view offers sanguine outlook for banks capitalisation as credit declines faster: Acuity

– dailymirror.lk/business-news/Contrarian-view-offers-sanguine-outlook-for-banks-capitalisation-as-credit-declines-faster/273-241211

• Postal services temporarily suspended to four countries

– dailymirror.lk/breaking_news/Postal-services-temporarily-suspended-for-four-countries/108-241173

• The big default? The dozen countries in the danger zone

– dailymirror.lk/business-news/The-big-default-The-dozen-countries-in-the-danger-zone/273-241210

• IMF reaches staff-level accord with Pakistan to disburse $ 1.17 b

– ft.lk/front-page/IMF-reaches-staff-level-accord-with-Pakistan-to-disburse-1-17-b/44-737529

– island.lk/pakistan-reaches-agreement-with-imf-to-resume-loan/

• Haiti faces increase in protests over fuel prices

– radiohc.cu/en/noticias/internacionales/293532-haiti-faces-increase-in-protests-over-fuel-prices

• Euro drops below $1 for first time since 2002

– radiohc.cu/en/noticias/internacionales/293492-euro-drops-below-1-for-first-time-since-2002

• US consumer inflation rises to highest annual rate since 1981

– dailymirror.lk/business-news/U-S-consumer-inflation-rises-to-highest-annual-rate-since-1981/273-241048

• U.S. inflation jumps 9.1 percent in June to fresh four-decade high

– radiohc.cu/en/noticias/internacionales/293493-us-inflation-jumps-91-percent-in-june-to-fresh-four-decade-high

_________________________________________________________________________

C5. Workers (Inadequate Stats, Wasteful Transport, Unmodern Plantations, Services)

ee Workers attempts to correct the massive gaps and disinformation about workers, urban and rural and their representatives (trade unions, etc), and to highlight the need for organized worker power

• CB Executive Officers Union calls for continuation of engagement with IMF, fiscal reforms

‘The CB cannot find sustainable solutions to the existing economic crisis through monetary policy in isolation and for that the government must make the necessary structural changes in the fiscal policy’

– dailymirror.lk/business-news/CB-Executive-Officers-call-for-continuation-of-engagement-with-IMF-fiscal-reforms/273-240890

• No risk of non-payment of July salaries

– themorning.lk/no-risk-of-non-payment-of-july-salaries/

– island.lk/state-workers-will-get-their-july-salary-despite-rumours/

• Global Alliance of trade unions ask brands to stay with Sri Lanka    

‘signed by the trade union Labour Behind The Label on behalf of Clean Clothes Campaign, War on Want, Workers United and Maquila Solidarity Network’

– sundaytimes.lk/220710/business-times/ftz-grinding-to-a-halt-takes-to-cycling-to-work-488256.html

• Firm solutions imperative to overcome present political instability: GMOA

‘hospital sector is staring a shutdown due to the health workers being unable to report for their duties…

no one had come forward to discuss and suggest sustainable solutions’

– dailymirror.lk/breaking_news/Firm-solutions-imperative-to-overcome-present-political-instability-GMOA/108-241156

• FUTA wants Ranil to step down & NOT contest election in Parliament for President

– newsfirst.lk/2022/07/15/futa-wants-ranil-to-step-down-not-contest-election-in-parliament-for-president/

• Hard times trigger surge in people-smuggling; 700 arrested in past 20 days

– sundaytimes.lk/220710/news/hard-times-trigger-surge-in-people-smuggling-700-arrested-in-past-20-days-488558.html

• Immigration Dept. issues over 430k passports in Jan-Jun 2022

– ft.lk/news/Immigration-Dept-issues-over-430k-passports-in-1H/56-737372

• Daily wage-earners, suppliers and services, struggling to support their families

– sundaytimes.lk/220710/news/insurmountable-challenges-488538.html

• SL capitalists assist staff to endure economic crisis

– sundaytimes.lk/220710/business-times/sl-firms-assist-staff-to-endure-economic-crisis-488279.html

• Dengue cases hitting over 36,000 just over half a year

– sundaytimes.lk/220710/news/if-you-have-fever-body-aches-do-not-take-nsaids-488546.html

• Executive presidency nothing but a curse: Artists of the People

– island.lk/actor-turned-activist-alleges-parliament-seeking-to-steal-aragalaya-triumph/

• First foreign teacher in fledgling Sinhala Department at School of Foreign Languages in Yunnan, China

– sundaytimes.lk/220710/plus/passage-to-lanka-its-language-and-culture-488353.html

• Panamanian unions extend strike and demand government responses to social situation

– radiohc.cu/en/noticias/internacionales/293440-panamanian-unions-extend-strike-and-demand-government-responses-to-social-situation

• Colombian union will go on strike due to unfulfilled promises by Duque government

– radiohc.cu/en/noticias/internacionales/293531-colombian-union-will-go-on-strike-due-to-unfulfilled-promises-by-duque-government

• French opposition lawmakers denounce Uber-Macron secret deal in wake of Uber Files

‘to purportedly relax labor and taxi laws and also for signing a “secret deal”’

– radiohc.cu/en/noticias/internacionales/293245-french-opposition-lawmakers-denounce-uber-macron-secret-deal-in-wake-of-uber-files

• The First Principle of Union Organizing: Spontaneity Isn’t Enough

– socialistproject.ca/2022/07/first-principle-of-union-organizing-spontaneity-not-enough/

• Violence, Gender and Healthcare Provisioning in Ontario

‘there are more assaults in hospitals than in any other industry.’

– socialistproject.ca/2022/07/violence-gender-healthcare-ontario/

• US Labor’s Upsurge: How Unions Can Make the Most of This Moment

– socialistproject.ca/leftstreamed-video/labor-upsurge-unions-can-make-the-most/

_________________________________________________________________________

C6. Agriculture (Robbery of rural home market; Machines, if used, mainly imported)

ee Agriculture emphasizes the failure to industrialize an agriculture that keeps the cultivator impoverished under moneylender and merchant, and the need to develop the rural home market, monetization and commercialization, to produce, rather than import, agricultural machinery.

• Farmers who put Herculean effort to cultivate now without fuel for harvesting machines

– island.lk/farmers-who-put-on-herculean-effort-to-cultivate-against-many-odds-now-without-fuel-for-harvesting/

• Sri Lanka struggles to settle massive Rs.14 billion organic fertiliser bill

– sundaytimes.lk/220710/business-times/sri-lanka-struggles-to-settle-massive-organic-fertiliser-bill-488217.html

• UN proposes Debt-for-Nature swap to Sri Lanka

‘US is the single largest creditor involved in bilateral DFNSs. These have mainly been carried out through two facilities under USAID: The Tropical Forest Conservation Act (TFCA) introduced in 1998 and the Enterprise for the Americas Initiative (EAI), a predecessor of TFCA’

– sundaytimes.lk/220710/business-times/un-proposes-debt-for-nature-swap-to-sri-lanka-488271.html

• First stock of urea fertiliser under Indian credit line arrives

– ft.lk/news/First-stock-of-urea-fertiliser-under-Indian-credit-line-arrives/56-737521

• Food producer prices hit a fresh high of 76% in May

– dailymirror.lk/latest_news/Producer-prices-hit-a-fresh-high-of-76-in-May/342-241046

• Bakery owners forced to increase bread prices due to increase by such flour importers as Prima

– timesonline.lk/news-online/Bakery-owners-say-forced-to-increase-bread-prices-due-to-flour-price-increase/2-1138088

• Borrow $110 million from World Bank to procure Urea and $ 40 million from Asian Development Bank) for the next Maha season – Marambe

– ft.lk/columns/The-struggle-to-overcome-the-impending-food-crisis/4-737367

• Lanka’s misery should be warning to us all on global food, fuel and finance crisis: UNDP

‘seismic shifts in the international financial system will also be necessary to ensure that low and middle-income countries can recover’

– island.lk/lankas-misery-should-be-warning-to-us-all-on-global-food-fuel-and-finance-crisis-undp/

• First FOOD goes, then the ECONOMY: Radical changes in the agriculture sector compounded by pandemic tyranny responsible for Sri Lanka’s demise

– naturalnews.com/2022-07-08-chemical-fertilizer-ban-blamed-sri-lanka-crisis.html

• Conservationists blows whistle on lucrative ‘bush meat’ business at Ridiyagama Safari Park

– island.lk/conservationist-group-blows-whistle-on-lucrative-bush-meat-business-at-ridiyagama-safari-park/

• Arthur V Dias and jackfruit tree

– island.lk/arthur-v-dias-and-jackfruit-tree/

• Africa seeks private sector funding for ocean climate action

– radiohc.cu/en/noticias/internacionales/293491-africa-seeks-private-sector-funding-for-ocean-climate-action

_____________________________________________________________________

C7. Industry (False definitions, anti-industrial sermons, rentier/entrepreneur, etc)

ee Industry notes the ignorance about industrialization (versus handicraft and manufacture), the dependence on importing foreign machinery, the need to make machines that make machines, build a producer culture. False definitions of industry, entrepreneur, etc, abound, and the need for a holistic political, economic and military strategy to overcome domination by merchants and moneylenders.

• Restructured Ceylon Petroleum Corporation (CPC) to avert possible collapse

‘CPC reforms will be implemented under a new plan of divesting a major stake to a foreign company or investor to take up its management in a joint venture or handing over the majority of its fuel filling stations countrywide along with the Ceylon Petroleum Storage Terminals Ltd or the Common User Facility, the storage and distribution arm of the local petroleum industry.’

– sundaytimes.lk/220710/business-times/restructured-cpc-to-avert-possible-collapse-488268.html

• Fuel: Precious cargo changing hands for prices quoted at will

– sundaytimes.lk/220710/news/fuel-precious-cargo-changing-hands-for-prices-quoted-at-will-488541.html

• Top administration told Litro Gas Lanka Chairman to break the Omani ‘gas mafia’

– sundaytimes.lk/220710/business-times/new-twist-in-the-controversial-lpg-tale-488276.html

• Documents leaked to Daily Mirror reveal what went wrong in Sri Lankan power sector

– dailymirror.lk/news-features/Documents-leaked-to-Daily-Mirror-reveal-what-went-wrong-in-Sri-Lankan-power-sector/131-234687

• Will the next fuel shipment arrive via a company owned by a Rajapaksa?

– dailymirror.lk/expose/Will-the-next-fuel-shipment-arrive-via-a-company-owned-by-a-Rajapaksa/333-240935

• Sri Lanka introduces fuel ration card for smooth distribution

– economynext.com/sri-lanka-introduces-fuel-ration-card-for-smooth-distribution-97478/

• Sri Lanka revises fuel prices; Petrol price reduce by Rs.20

– google.com/amp/s/economynext.com/sri-lanka-revises-fuel-prices-petrol-price-reduce-by-rs-20-97504/

• Shortages: Auditor General’s report sheds light on many ills in health sector

‘a lack of coordination among the Medical Supplies Division, Ministry of Health, State Pharmaceutical Corporation of Sri Lanka and State Pharmaceutical Manufacturing Corporation, which are mainly involved in the management of medical supplies, the Auditor General has observed in his report.

– island.lk/shortages-auditor-generals-report-sheds-light-on-many-ills-in-health-sector

• Local banks run short of paper slips

– sundaytimes.lk/220710/business-times/local-banks-run-short-of-paper-slips-488246.html

• INSEE Cement’s Galle Ruhunu plant begins production of Portland Composite Cement

– dailymirror.lk/business-news/INSEE-Cements-Galle-facility-begins-production-of-Portland-Composite-Cement/273-240882

• Operations at Hambantota International Port (HIP) running uninterrupted

– dailymirror.lk/business-news/Business-as-usual-at-Hambantota-Port/273-241137

– island.lk/business-as-usual-at-hambantota-port/

• Rationalise public and private travelling

– ft.lk/columns/Rationalise-public-and-private-travelling/4-737403

• UAE’s flydubai suspends operations to SL

– dailymirror.lk/business-news/UAEs-flydubai-suspends-operations-to-SL/273-240892

• Sathosa Motors celebrates 60 years of excellence and partnership with Isuzu

‘Sathosa Motors is also the franchise holder for Isuzu vehicles, Isuzu Marine Engines, and Isuzu Genuine spare parts manufactured by Isuzu Motors’

– island.lk/sathosa-motors-celebrates-60-years-of-excellence-and-partnership-with-isuzu/

• ‘Galu Kumari’ took me to Beliatta

– sundaytimes.lk/220710/plus/my-troubles-flew-out-of-the-window-as-the-galu-kumari-took-me-to-beliatta-488324.html

• Wijayaratnam, President of Desiccated Coconut (DC) Millers’ Association of Sri Lanka.

– sundaytimes.lk/220710/plus/a-husbands-wish-and-place-patients-can-call-home-488337.html

• India to boost Sakhalin-1 oil output

– indianpunchline.com/india-to-boost-sakhalin-1-oil-output/

• Nord Stream 1: Canada to return repaired Russian pipeline part to Germany

– dw.com/en/nord-stream-1-canada-to-return-repaired-russian-pipeline-part-to-germany/a-62421206

• Canada’s decision to return Nord Stream turbine doesn’t breach anti-Russian sanctions — EC

– tass.com/economy/1478339

• Hyundai Motor launches first electric sedan; to challenge Tesla domination

– dailymirror.lk/business-news/Hyundai-Motor-launches-first-electric-sedan-to-challenge-Tesla-domination/273-241138

• In face-off with London Heathrow, Emirates airline says will not cut capacity

– ft.lk/front-page/In-face-off-with-London-Heathrow-Emirates-airline-says-will-not-cut-capacity/44-737530

• US-made parts for Russia’s artillery

‘Companies involved in supplying parts for Orlan-10 drones include Lynred infrared(France), AxisIPVideo (Sweden), Cirocomm (Taiwan), Ublox (Switzerland), XilinxInc (US), AllianceMemory (US), Sony (Japan) Playstation, Saito (Japan, but engine made in China).’

– asiatimes.com/2022/06/us-made-parts-keep-russias-artillery-firing-in-ukraine/

• Oil edges higher after slide below US$100

– dailymirror.lk/business-news/Oil-edges-higher-after-slide-below-US-100/273-241044

• Oil prices drop ahead of potential large United States rate hike

– dailymirror.lk/breaking_news/Oil-prices-drop-ahead-of-potential-large-United-States-rate-hike/108-241136

• EU Labels Gas and Nuclear as ‘Sustainable,’ Betraying Climate Promises

– socialistproject.ca/2022/07/eu-labels-gas-and-nuclear-as-sustainable-betraying-climate-promises/

______________________________________________________________________

C8. Finance (Making money from money, banks, lack of investment in modernity)

ee Finance tracks the effects of financialization, the curious role of ratings agencies, false indices, etc., and the rule of moneylenders, preventing investment in modern production.

• Aragalaya boost for Colombo stock market

– ft.lk/front-page/Aragalaya-boost-for-Colombo-stock-market/44-737394

• Securities and Exchange Commission calls for proposals for Central Counterparty System

– sundaytimes.lk/220710/business-times/sec-calls-for-rfps-for-ccp-488233.html

• Sri Lanka stocks jump to 3-wk high on political stability hope after PM takes charge

– economynext.com/sri-lanka-stocks-jump-to-3-wk-high-on-political-stability-hope-after-pm-takes-charge-97469/

• Share market turns positive in the wake of GR’s resignation; turnover hits Rs. 1 billion

– island.lk/share-market-turns-positive-in-the-wake-of-grs-resignation-turnover-hits-rs-1-billion/

• Sri Lanka shares down after violent clashes amid political unrest

– economynext.com/sri-lanka-shares-down-after-violent-clashes-amid-political-unrest-97445/

• US Senate Banking Committee Accuses Fed Chair Powell of Hampering Trading Scandal Investigation

– wallstreetonparade.com/2022/07/senators-on-senate-banking-committee-accuse-fed-chair-powell-of-hampering-trading-scandal-investigation/

• US Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, A Day After 5 Senators Accuse Him of Hampering the Investigation

– wallstreetonparade.com/2022/07/the-feds-inspector-general-clears-jerome-powell-of-wrongdoing-in-the-trading-scandal-one-day-after-five-senators-accuse-him-of-hampering-the-investigation/

• The Stock Exchange of the Future Has Arrived – With a Very Dark Past

– wallstreetonparade.com/2022/07/the-stock-exchange-of-the-future-has-arrived-with-a-very-dark-past/

• The Financial Bubble Era Comes Full Circle: An unstable encounter with a $50 billion stablecoin –Taibbi

– taibbi.substack.com/p/the-financial-bubble-era-comes-full

• Over 1,600 of the Brightest Scientific Minds in Technology Have Signed a Letter Calling Both Crypto and Blockchain a Sham

– wallstreetonparade.com/2022/07/over-1600-of-the-brightest-scientific-minds-in-technology-have-signed-a-letter-calling-both-crypto-and-blockchain-a-sham/

___________________________________________________________________________________

C9. Business (Rentierism: money via imports, real-estate, tourism, insurance, fear, privatization)

ee Business focuses on the rentier diversions of the oligarchy, the domination by a merchant mafia, making money from unproductive land sales, tourism, insurance, advertising, etc. – the charade of corporate press releases disguised as ‘news’

• Ceylon Tobacco Company Gross Revenue LKR 135.9Bn in 2022E

– island.lk/ceylon-tobacco-company-plc-fags-ignite-bottom-line-boost/

• India warns its private sector to stay away from Port City

‘PCC, which is envisioned as a financial centre, would “rival India’s own plans, like the Gujarat International Finance Tec (GIFT) City in Gujarat”.’

– themorning.lk/india-warns-its-private-sector-to-stay-away-from-port-city/

• Shocking 40 percent of tourist pre-bookings cancelled

– island.lk/shocking-40-percent-of-tourist-pre-bookings-cancelled/

• Tourist industry requests meeting with the Bank’s Association

– sundaytimes.lk/220710/business-times/tourist-bookings-gone-cancellations-on-488236.html

• Political instability and worsening economic crisis hit hotels sector hard

– dailymirror.lk/breaking_news/Political-instability-and-worsening-economic-crisis-hit-hotels-sector-hard/108-241142

• Daraz joins UN Global Compact to shape a more sustainable future for its communities

– island.lk/daraz-joins-un-global-compact-to-shape-a-more-sustainable-future-for-its-communities/

• AmCham, Teejay and Habitat for Humanity uplift sanitation at local schools

– sundaytimes.lk/220710/business-times/amcham-teejay-and-habitat-for-humanity-uplift-sanitation-facilities-at-local-schools-488249.html

• John Keells Group partners with Unilever and LSEG for FastTrack 2022

– dailymirror.lk/business-news/John-Keells-Group-partners-with-Unilever-and-LSEG-for-FastTrack-2022/273-241214

______________________________________________________

C10. Politics (Anti-parliament discourse, unelected constitution)

ee Politics points to the constant diversions and spectacles and the mercantile and financial forces funding the political actors, of policy hijacked by private interests minus public oversight.

• Gotabaya Rajapaksha’s Letter of Resignation

– lankaweb.com/news/items/2022/07/14/breaking-news-here-is-letter-of-gotabaya-rajapaksha-resign/

• Why did Gotabaya have to leave? – Nalin de Silva

‘The USA and India do not like Gotabaya and Mahinda…’

– kalaya.org/2022/07/blog-post_15.html

• Gota Go is a precursor to Buddha Go – Nalin de Silva

– kalaya.org/2022/07/blog-post_15.html

• Storming of the Bastille – Sunday Times

‘Protesters who stormed the President’s House yesterday afternoon made use of the occasion to have a dip in the Presidential pool’

– sundaytimes.lk/220710/news/storming-of-the-bastille-488673.html

• Public outcry hijacked by radical elements that want also the overthrow of the bourgeoisie

– sundaytimes.lk/220710/editorial/unceasing-waves-and-uncertainties-488578.html

• President to step down on Wednesday; PM will also resign – Sunday Times

– sundaytimes.lk/220710/news/president-to-step-down-on-wednesday-pm-will-also-resign-488671.html

• Mob sets PM’s house ablaze, prevents firemen from dousing fire – Sunday Times

– sundaytimes.lk/220710/news/mob-sets-pms-house-ablaze-prevents-firemen-from-dousing-fire-488668.html

• Protesters continue to occupy President’s House, Secretariat and Temple Trees – Sunday Times

– sundaytimes.lk/220710/news/protesters-continue-to-occupy-presidents-house-secretariat-and-temple-trees-488665.html

• Protesters hold parties and dance under chandeliers in President’s House – Sunday Times

– sundaytimes.lk/220710/news/protesters-hold-parties-and-dance-under-chandeliers-in-presidents-house-488661.html

• 22A: BASL seeks changes in appointment, composition of Constitutional Council – Sunday Times

– sundaytimes.lk/220710/news/22a-basl-seeks-changes-in-process-of-appointment-composition-of-constitutional-council-488587.html

• Bootlickers and military men catapulted into key state positions – Sunday Times

– sundaytimes.lk/220710/columns/breaching-the-presidents-gates-mocking-the-rajapaksa-security-state-488567.html

• Time to move forward with system change – Sunday Times

– sundaytimes.lk/220710/plus/letters-to-the-editor-4-488334.html

• 22A an obstacle to formation of all-party interim Government

– sundaytimes.lk/220710/columns/22a-an-obstacle-to-formation-of-all-party-interim-government-488555.html

• When the centre cannot hold… – Seneviratne

– dailymirror.lk/opinion/When-the-centre-cannot-hold/172-241035

• Sri Lanka’s Crisis: Scenarios & Options – Waduge

‘Who were these agents” – the Church, NGO/Civil Society heads, the legal fraternity, the LTTE Diaspora, the Unions and everyone who had a personal vendetta or a political vendetta.’

– lankaweb.com/news/items/2022/07/12/sri-lankas-crisis-scenarios-options/

• Sri Lanka Crisis: Rajapaksa Says he Will Resign Today, Acting President Wickremesinghe Directs Army, Police to Restore Order

– newsclick.in/sri-Lanka-crisis-rajapaksa-he-resign-today-president-wickremesinghe-directs-army-police-restore-order

• Acting Lanka President Wickremesinghe says fascists trying to take over government

– lankaweb.com/news/items/2022/07/13/acting-lanka-president-wickremesinghe-says-fascists-trying-to-take-over-government/

• Future of a post-Rajapakse Sri Lanka – Waduge

‘Those who are celebrating the victory are silent when asked where are they to find dollars to buy essentials or even non-essentials.’

– lankaweb.com/news/items/2022/07/13/future-of-a-post-rajapakse-sri-lanka/

• Who is Behind the Dulles Group – Nalin de Silva

– kalaya.org/2022/07/blog-post_81.html

• The Sun the West Rises – Nalin de Silva

‘The so-called struggling youth have been born out of free education. As a result of their struggle, the welfare state will be abolished in the future. Free education will be cut…’

– kalaya.org/2022/07/blog-post_10.html

• Will the Atlantic Agree with a new President? – Nalin de Silva

– kalaya.org/2022/07/blog-post_12.html

• The Struggle of the West, Royal College and the Elite – Nalin de Silva

– kalaya.org/2022/07/blog-post_14.html#more

• Gomin Dayasri: Legal Luminary who forged peace amidst diversity

– island.lk/gomin-dayasri-legal-luminary-who-forged-peace-amidst-diversity/

• He will go down in history as an unsung hero: Gomin Dayasri

– sundaytimes.lk/220710/plus/appreciations-488328.html

• What did happen to my Motherland – Sri Lanka: Karunaratne

– lankaweb.com/news/items/2022/07/09/what-did-happen-to-my-motherland-sri-lanka/

• Reject all 225!

– gammiris.lk/225-%e0%b6%b8-%e0%b6%91%e0%b6%b4%e0%b7%8f/

• Lanka Crisis: Main Opposition SJB Says Ready to Lead New Govt to ‘Bring Stability’

_ newsclick.in/lanka-crisis-opposition-SJB-ready-lead-new-govt-stability

• How a Band of Activists Helped Bring Down Sri Lanka’s Government (Reuters)

– usnews.com/news/world/articles/2022-07-11/how-a-band-of-activists-helped-bring-down-sri-lankas-government

• Sri Lanka crisis | Ex-Finance Minister Basil Rajapaksa stopped from leaving country (Reuters)

– thehindu.com/news/international/sri-lanka-crisis-ex-finance-minister-basil-rajapaksa-stopped-from-leaving-country/article65630470.ece

• Joint Chambers seek smooth transition of power

– dailymirror.lk/business-news/Joint-Chambers-seek-smooth-transition-of-power/273-240894

• The Aftermath of July 2022 revolution…

– dailymirror.lk/opinion/the-Aftermath-of-July-2022-revolution/172-240876

• Next Govt. should implement nothing but what Aragalaya campaigned for: Gunaratnam

– dailymirror.lk/latest_news/Next-Govt-should-implement-nothing-but-what-Aragalaya-campaigned-for-Kumar-Gunaratnam/342-240851

• Basil’s attempt to leave the country fails amid protests at BIA (Times)

– timesonline.lk/news-online/Basils-attempt-to-leave-the-country-fails-amid-protests-at-BIA/2-1138084

• The Prime Minister’s resignation according to the PM

– ft.lk/columns/The-Prime-Minister-s-resignation/4-737371

• Fleeing President pushes SL to political chaos

– ft.lk/top-story/Fleeing-President-pushes-SL-to-political-chaos/26-737447

• MPs to elect new President on 20 July

– ft.lk/top-story/MPs-to-elect-new-President-on-20-July/26-737397

• JVP urges PM to resign or Prez to remove him to avert his moves to become Act. Prez

– dailymirror.lk/latest_news/JVP-urges-PM-to-resign-or-Prez-to-remove-him-to-avert-his-moves-to-become-Act-Prez/342-240932

• The Rajapaksa Regime Is Gone. What Next for Sri Lanka? – Balachandran

– lankaweb.com/news/items/2022/07/12/the-rajapaksa-regime-is-gone-what-next-for-sri-lanka/

• Torching Ranil’s Residence: Questions Surface About Another ‘Arabi Wasantha’ Incident

– colombotelegraph.com/index.php/torching-ranils-residence-questions-surface-about-another-arabi-wasantha-incident/

• SLPP instructed to leverage parliamentary majority to determine election expected next week

– island.lk/enormity-of-greed/

• Death-dealing 1980s sparrow units have crawled out of the woodwork since Saturday’s uprising

‘They are all out to usurp the powers of Parliament, and if their demand for the establishment of a council above the legislature is granted, they will be able to manipulate it to run a parallel government.’

– island.lk/avert-bloodbath/

• Dysfunctional quasi-dictatorship is still further ruining the country – Jayatilleka

– island.lk/final-battle-or-final-offensive/

• Aragalaya groups clash at Temple Trees:10 rushed to hospital

– island.lk/aragalaya-groups-clash-at-tt10-rushed-to-hospital/

• Arson attack on PM’s House: Karu wants any hidden forces probed

– island.lk/arson-attack-on-pms-house-karu-wants-any-hidden-forces-probed/

• Change of govt. unconstitutional but reality has to be accepted – MS

– island.lk/change-of-govt-unconstitutional-but-reality-has-to-be-accepted-ms/

• Need for haste in rebuilding trust after storming of President’s House: USAID NPC

‘Bar Association may be a possibility for leadership of the caretaker government’

– island.lk/need-for-haste-in-rebuilding-trust-after-storming-of-presidents-house/

• Sinhala Buddhist nationalist middle-classes of Colombo suburbs have lost faith in saviour

– island.lk/aragalaya-2-0-what-of-it/

• Fun protests to toppling Rajapaksa; covering SL’s unprecedented Presidential Palace storming

– economynext.com/fun-protests-to-toppling-rajapaksa-covering-sri-lankas-unprecedented-presidential-palace-storming-97286/

• How the Path of Ending Dictatorship was Trodden, How the Presidential Palace was Captured

– newsclick.in/sri-lanka-how-path-ending-dictatorship-was-trodden-how-presidential-palace-was-captured

• Wasantha Samarasinghe attacked at Galle Face protest site

– dailymirror.lk/breaking_news/Wasantha-Samarasinghe-attacked-at-Galle-Face-protest-site/108-241016

• Party leaders urge Speaker to get GR to remove Ranil

– themorning.lk/party-leaders-urge-speaker-to-get-gr-to-remove-ranil/

• GR resignation letter expected today

– ft.lk/front-page/GR-resignation-letter-expected-today/44-737448

• Sajith condemns deceptive manoeuvres by GR, RW

– ft.lk/front-page/Sajith-condemns-deceptive-manoeuvres-by-GR-RW/44-737454

• Sri Lanka Rajapaksa fails to resign despite repeated promises

– economynext.com/sri-lanka-rajapaksa-fails-to-resign-despite-repeated-promises-97388/

• Rajapaksa’s party is key to deciding Sri Lanka’s new president

– economynext.com/rajapaksas-party-is-key-to-deciding-sri-lankas-new-president-97297/

• Ranil vows to fight ‘Fascists’

– island.lk/ranil-vows-to-fight-fascists/

• Maithripala, Sajith, Anura demand Prez, PM quit immediately

– island.lk/maithripala-sajith-anura-demand-prez-pm-quit-immediately/

• Police used about 50,000 litres of water to hold back protesters on July 09

– island.lk/police-used-about-50000-litres-of-water-to-hold-back-protesters-on-july-09/

• Cardinal urges all parties not to take law into their hands

– island.lk/cardinal-urges-all-parties-not-to-take-law-into-their-hands/

• JVP Leader turns his guns on Ranil

– island.lk/jvp-leader-turns-his-guns-on-ranil/

• National Chamber of Exporters urges political stability in the country

– island.lk/nce-urges-political-stability-in-the-country/

– dailymirror.lk/latest_news/Exporters-urge-authorities-to-step-up-in-ushering-political-and-economic-stability/342-241045

• Party leaders must stop fighting among themselves and speak with one voice

– island.lk/cut-the-gordian-knot/

• Sri Lanka riots & worldwide protests: It’ll get to a point where it cannot be ignored’

– brandnewtube.com/watch/sri-lanka-riots-amp-worldwide-protests-it-039-ll-get-to-a-point-where-it-cannot-be-ignored-039_ia6daIrLu7VVmyh.html

• President Gotabaya Rajapaksa to resign on July 14 after reaching Singapore – Balachandran

– lankaweb.com/news/items/2022/07/13/lankan-president-gotabaya-rajapaksa-to-resign-on-july-14-after-reaching-singapore/

• Waiting for resignation serves no purpose; elect new Prez through Parliament: JVP

– dailymirror.lk/latest_news/Waiting-for-resignation-serves-no-purpose-elect-new-Prez-through-Parliament-JVP/342-241091

• May 9, June 9, July 9 and the struggle ahead

– gammiris.lk/

• The plane is going down…

– gammiris.lk/

• Gotabaya Rajapaksa emails resignation letter to Speaker

– dailymirror.lk/top_story/Gotabaya-Rajapaksa-emails-resignation-letter-to-Speaker/155-241097

• Speaker receives Prez’s resignation, official announcement to be made tomorrow

– dailymirror.lk/latest_news/Speaker-receives-Prezs-resignation-official-announcement-to-be-made-tomorrow/342-241098

• We Talk: Sri Lankans occupying the Presidential Palace tell their story

– news.cgtn.com/news/2022-07-14/We-Talk-Sri-Lankans-occupying-the-president-s-palace-tell-their-story-1bEJNGDn8M8/index.html

• Ceylon Chamber urges Gotabaya to resign forthwith; elect new President immediately

– timesonline.lk/news-online/Ceylon-Chamber-urges-Gotabaya-to-resign-forthwith-elect-new-President-immediately/2-1138100

• SLPP to support RW

– dailymirror.lk/top_story/SLPP-to-support-RW/155-241164

• Ceylon Chamber urges Speaker not to delay process of electing new President until 20th

– dailymirror.lk/business-news/Ceylon-Chamber-urges-Speaker-not-to-delay-process-of-electing-new-President-until-20th/273-241141

• Protesters move on parliament would only benefit those trying to continue with existing set up

– island.lk/pressure-mounts-on-pm-to-quit-as-prez-reneges-on-promise-to-resign-on-13-july/

• SJB will support NCM against Ranil

– island.lk/sjb-will-support-ncm-against-ranil/

• Speaker Seeks President Rajapaksa’s Resignation, Says Other Options To Be Considered

– lankaweb.com/news/items/2022/07/14/sri-lanka-speaker-seeks-president-rajapaksas-resignation-says-other-options-to-be-considered/

• Pohottuwa Divided on Support for Ranil

– newsfirst.lk/2022/07/15/pohottuwa-divided-on-support-for-ranil/

• SLPP must support candidate fielded by the party: G.L. Peiris

– newsfirst.lk/2022/07/15/slpp-must-support-candidate-fielded-by-the-party-g-l-peiris/

• Uphold democracy and constitutional solutions: Youth political movement NextGenSL

– themorning.lk/uphold-democracy-and-constitutional-solutions-youth-political-movement/

• Sri Lankan ruling party supports interim president for presidency

– news.cgtn.com/news/2022-07-15/Sri-Lankan-ruling-party-supports-interim-president-for-presidency-1bGXTdfXj44/index.html

• Gota quits on the run: Wijeya Group FT

‘Several parties including the SJB, SLFP, the independent group within the SLPP, TNA that met yesterday decided to inform the Speaker that they will nominate Opposition Leader Sajith Premadasa for the post of Prime Minister of the all-party Government that is being mooted to overcome the economic crises facing the country. The JVP did not attend the meeting’

– ft.lk/top-story/Gota-quits-on-the-run/26-737535

• Protesters to end occupation of official buildings

– ft.lk/news/Protesters-to-end-occupation-of-official-buildings/56-737523

• Fonseka says ready to take over Presidency

‘His announcement comes three days after he as the Chairman of Samagi Jana Balawegaya seconded the nomination of Leader Sajith Premadasa for the post of President.’

– ft.lk/front-page/Fonseka-says-ready-to-take-over-Presidency/44-737531

• Sri Lanka’s war winning army chief says ready to take presidency

– economynext.com/sri-lankas-war-winning-army-chief-says-ready-to-take-presidency-97442/

• House officially informed vacancy of Presidency

– dailymirror.lk/latest_news/House-officially-informed-vacancy-of-Presidency/342-241219

• Sri Lanka acting president vows to restore 19th amendment, establish law & order

– economynext.com/sri-lanka-acting-president-vows-to-restore-19th-amendment-establish-law-order-97464/

• Ranil sworn in before CJ as Acting President

– island.lk/ranil-sworn-in-before-cj-as-acting-president/

• Speaker reconfirms 20 July vote in House for new President

– island.lk/speaker-reconfirms-20-july-vote-in-house/

• Prez election: Dullas announces his candidature

– island.lk/prez-election-dullas-announces-his-candidature/

• Wartime FM asks for unity among political parties

– island.lk/wartime-fm-asks-for-unity-among-political-parties/

• BASL advises MPs on criteria to pick new Prez

– island.lk/asl-advises-mps-on-criteria-to-pick-new-prez/

• BASL urges all parties to respect party leaders’ decision

– dailymirror.lk/breaking_news/BASL-urges-all-parties-to-respect-party-leaders-decision/108-241224

• The Executive Presidency must go! – The Kuppi Collective

– island.lk/the-executive-presidency-must-go/

• Christian Council calls for urgent ‘United or All-Party Government’

– dailymirror.lk/breaking_news/Christian-Council-calls-for-urgent-United-or-All-Party-Government/108-241153

• Live: Inside the PM’s Office

– dailymirror.lk/audio/voice_of_the_people/Live-Inside-the-PMs-Office/486-241027

• Flower Road turns into a battle ground as protesters storm PM’s office

– dailymirror.lk/plus/Flower-Road-turns-into-a-battle-ground-as-protesters-storm-PMs-office/352-241037

• Vote for presidency; SLFP not to support any candidate: Maithri

– dailymirror.lk/breaking_news/Vote-for-presidency-SLFP-not-to-support-any-candidate-Maithri/108-241223

• AKD to contest for presidency from NPP

– dailymirror.lk/breaking_news/AKD-to-contest-for-presidency-from-NPP/108-241221

• FSP Leader Kumar Gunaratnam and his “Aragalaya” – David Jeyaraj

– dailymirror.lk/opinion/FSP-Leader-Kumar-Gunaratnam-and-his-Aragalaya/172-241201

• Don’t cross the thin line between people-power and mob rule

– dailymirror.lk/opinion/Dont-cross-the-thin-line-between-people-power-and-mob-rule/231-241104

• SLPP pays tribute to service rendered by President Gotabaya Rajapaksa

– ft.lk/news/SLPP-pays-tribute-to-service-rendered-by-President-Gotabaya-Rajapaksa/56-737577

• RW takes presidential baton from Gotabaya

– ft.lk/top-story/RW-takes-presidential-baton-from-Gotabaya/26-737590

• The recurring struggle for independence

– ft.lk/columns/The-recurring-struggle-for-independence/4-737510

• The Aragalaya represented the whole people – Jayatilleka

– ft.lk/columns/Defiant-island-The-spirit-of-Sri-Lanka/4-737472

• The country can be saved not by an all-party government but by a non-party government

– ft.lk/columns/The-country-can-be-saved-not-by-an-all-party-government-but-by-a-non-party-government/4-737554

• Sri Lanka Protests Aim to Save Country from Rajapaksa’s Destruction: India

– newsclick.in/sri-lanka-protests-aim-save-country-rajapaksas-destruction

• Zelensky holds Russia ‘accountable’ for ongoing catastrophe in Sri Lanka

– island.lk/zelensky-holds-russia-accountable-for-ongoing-catastrophe-in-sri-lanka/

• A Reckless Dynasty Has Brought Calamity to Sri Lanka – New York Times

– nytimes.com/2022/07/11/opinion/sri-lanka-gotabaya-rajapaksa.html

• ‘Raja’: From Trotskyite lawyer to Tamil Times Editor

– ft.lk/columns/Raja-From-Trotskyite-lawyer-to-Tamil-Times-Editor/4-737405

• India: The Vulnerability Of Catholic Leaders – OpEd

– eurasiareview.com/19062022-india-the-vulnerability-of-catholic-leaders-oped/

• On the Ideology of the Cuban Revolution (1960) – Che Guevara

‘Their distrust of the campesino has been converted into affection and respect for his virtues; their total ignorance of life in the country has been converted into a knowledge of the needs of our guajiros; their flirtations with statistics and with theory have been fixed by the cement which is practice.’

– redsails.org/la-ideologia-de-la-revolucion-cubana/

• ‘Sayonara’ – Japan’s controversial statesman Shinzo Abe departs

‘Japan’s two giant neighbours China and Russia are increasingly coordinating their security presence in the Far East.’

– indianpunchline.com/shinzo-abe-a-controversial-visionary/

• Abe’s killer wielded homemade gun, grudge over mother’s bankruptcy

– news.cgtn.com/news/2022-07-10/Abe-s-killer-wielded-homemade-gun-grudge-over-mother-s-bankruptcy-1bxTuR1rzbO/index.html

• Leaked files reveal how Uber lobbied U.S. and European politicians for favors

‘$90 million-a-year lobbying and public relations effort by Uber recruited friendly politicians to help in its controversial campaign to disrupt Europe’s taxi industry.’

– radiohc.cu/en/noticias/internacionales/293196-leaked-files-reveal-how-uber-lobbied-us-and-european-politicians-for-favors

• “Team Crazy” and Co-Conspirators that Marshaled the Mob at the Capitol to be Key Focus of Tuesday’s January 6 Hearing

– wallstreetonparade.com/2022/07/team-crazy-and-co-conspirators-that-marshaled-the-mob-at-the-capitol-to-be-key-focus-of-tuesdays-january-6-hearing/

• The Great Multi-Cultural Experiment

– island.lk/the-great-multi-cultural-experiment/

__________________________________________________________

C11. Media (Mis/Coverage of economics, technology, science and art)

ee Media shows how corporate media monopoly determines what is news, art, culture, etc. The media is part of the public relations (corporate propaganda) industry. The failure to highlight our priorities, the need to read between the lines. To set new perspectives and priorities.

• Soldiers move in to protect Rupavahini, ITN

– dailymirror.lk/latest_news/Soldiers-moved-in-to-protect-Rupavahanini-ITN/342-240922

• Internet Media Action (IMA) speaks up on internet, web and social media disruption during peoples’ protest on 9 July

– ft.lk/front-page/IMA-speaks-up-on-internet-web-and-social-media-disruption-during-peoples-protest-on-9-July/44-737431

• Change of Theva duty at the Maligawa on Esala Poya

‘The Asgiriya Chapter is the Aranyavasi (some monks meditating in forests) and the Malwatte Chapter monks were the Gramavasi (living in villages).’

– sundaytimes.lk/220710/plus/change-of-theva-duty-at-the-maligawa-on-esala-poya-488345.html

• Sampath Bank MOU with Association of International Marketing Graduates (AIMGSL)

– dailymirror.lk/business-news/Sampath-Bank-signs-MOU-with-AIMGSL/273-240883

• Largely forgotten colonial citadel: Matara Fort

– sundaytimes.lk/220710/plus/largely-forgotten-colonial-citadel-488316.html

New York Times Ground Report Debunks NYT Claim Of Strikes Against ‘Ukraine’s Civilians’

– moonofalabama.org/2022/07/nyt-ground-report-debunks-nyt-claim-of-strikes-against-ukraines-civilians.html

New York Times Continues To Report Strikes On Military Targets as Hits on Civilians

– moonofalabama.org/2022/07/nyt-continues-to-report-strikes-on-civilians-that-somehow-happen-to-hit-military-targets.html

• The NATO Summit: a Historic, Triumphant Exercise in Media Fakery

– mtracey.substack.com/p/the-nato-summit-a-historic-triumphant

• Former US secretary of state calls for news sources to be prosecuted over Julian Assange leaks

– radiohc.cu/en/noticias/internacionales/293592-former-us-secretary-of-state-calls-for-new-sources-to-be-prosecuted-over-julian-assange-leaks

• Ex-CIA engineer Joshua Schulte convicted over massive data leak

– radiohc.cu/en/noticias/internacionales/293529-ex-cia-engineer-joshua-schulte-convicted-over-massive-data-leak

_________________________________________________

email: econenews@gmail.com

blog: eesrilanka.wordpress.com

_________________________________________________

Published by ee ink.

This site is inspired by the dedicated scholarship and work of S.B.D. de Silva, author of "The Political Economy of Underdevelopment"

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