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Debt Rattle April 24 2024

Apr 242024
 
 April 24, 2024  Posted by at 8:50 am Finance Tagged with: , , , , , , , ,  53 Responses »


René Magritte La trahison des images 1929

 

• Unsealed Court Filings Show Emails Between NARA, DOJ, Biden White House (ET)
• Biden’s America: 40% Of Renters Think They’ll Never Own A Home (ZH)
• Biden Terrifyingly Grows Ranks Of Government Spies (Gosztola)
• The Real Debt Problem (Paul Craig Roberts)
• Ukraine Has Lost Almost a Half Million Soldiers – Shoigu (Sp.)
• No Hiding From Draft Abroad – Kiev (RT)
• West Is Doing To Ukrainians What It Did To Indigenous Americans – Zakharova (RT)
• Germany Holds Massive Military Drills Near Russian Border (RT)
• A Nasty Little Book About The Allied Invasion Of Russia In 1918 (Helmer)
• Gaza Settlement Crucial For Islamic World – Erdogan (TASS)
• Iran Threatens To Wipe Out Israel (RT)
• Western Regime-Change Operations Enable Criminal Activities (SCF)
• US Would Beat China In A War – Intel Official (RT)
• Britain To Put Industry On ‘War Footing’ – PM (RT)
• German Leader Tells Putin He Can’t Quote Philosopher Kant (RT)

 

 

 

 

25 bullseyes
https://twitter.com/i/status/1782233148668985826

 

 

Watters Kise

 

 

 

 

Tucker Yon

 

 

 

 

Ron Paul
https://twitter.com/i/status/1782792998016761927

 

 


if we had never named covid 19 and swerved around it like it was a dinosaur in the road instead of a squirrel, we’d probably have barely noticed it. “huh, baddish flu this year” would have been about the end it of. no lockdown. no mask up. no EUA jab. just life.

 

 

 

 

Conspiracy, no theory. And scary. How do you get rid of something like this? It’s a huge cancer growth.

• Unsealed Court Filings Show Emails Between NARA, DOJ, Biden White House (ET)

Court filings newly unsealed on Monday in the Mar-a-Lago classified documents case include emails between National Archives and Records Administration (NARA) officials, the Biden White House, and the Department of Justice (DOJ) regarding former President Donald Trump’s presidential records. The trove of unsealed filings also revealed that the Federal Bureau of Investigation’s (FBI) code name for its investigation into President Trump’s presidential records was “[Redacted] Plasmic Echo.” A key exhibit included with a motion to compel filed in January was an FBI case file labeled “[Redacted] PLASMIC ECHO; Mishandling of Classified or National Defense Information.” This file, now made public, summarizes an initial review of documents forwarded by NARA to the FBI on Feb. 24, 2022. The review uncovered 106 classified documents across 12 out of 15 boxes, totaling 767 pages.

Last year, President Trump pleaded not guilty to 40 counts related to allegedly mishandling classified documents. In January, the defense filed a motion to compel discovery along with several exhibits under seal, which included emails containing names and identifying information about government officials. The defense has argued that the emails unsealed on Monday indicate communication between NARA officials, the Biden administration, and the DOJ regarding President Trump’s records, alleging coordination in targeting the former president since 2021. One email from NARA’s general counsel to the national archivist discussed drafting a letter to U.S. Attorney General Merrick Garland concerning “missing Trump records.” Subsequent emails revealed coordination between NARA and the Biden White House counsel’s office regarding the handling of these records.

The Sept. 1, 2021, email revealed that NARA’s general counsel, Gary Stern, had been in touch with both the DOJ and the Biden White House “about this issue.” A subsequent email on Sept. 30, 2021, reveals that the White House counsel’s office “is now ready to set up a call to discuss the Trump boxes.” This email came after Mr. Stern emailed Deputy White House Counsel Jonathan Su two days earlier to “check back in to see when and how you want to proceed re [sic] meeting with [redacted], [redacted], [redacted], and NARA to discuss the Trump boxes?” Furthermore, the defense highlighted instances where NARA officials didn’t disclose certain actions to Trump representatives, suggesting bias in the investigation process. The defense alleged that Mr. Su didn’t disclose to a Trump representative that NARA had already drafted a DOJ referral letter when contacting them to discuss access to notes “from the Trump administration relating to records handling.”

The unsealed emails show that NARA took into consideration the Democrat-led January 6 Committee’s investigation when considering the timing of reporting to Congress on their issues of getting access to President Trump’s posts on Twitter (now X). On Oct. 5, 2023, Mr. Stern wrote in an internal NARA email that the release of a letter to Congress “can be timed with our public release of the Trump social media records … as well as our release to the 1/6 Committee of responsive tweets on the day of January 6.” Mr. Stern noted that NARA had “issues” getting President Trump’s “social media records” because the Trump White House didn’t “capture them through the use of third-party archiving tools.” “I do not think that these problems are something that the AG/DOJ can deal with, but it could be appropriate to report them to Congress, especially since the January 6 Committee has specifically requested Trump’s Tweets from the day of January 6,” Mr. Stern wrote in the email.

Mr. Stern adds that the Biden White House counsel “is now also aware of this issue, and has asked that I keep them in the loop to the extent that we make any reference to the White House Office of Records Management.” Another email shows Mr. Ferriero saying that he had run “out of patience” amid back-and-forth communications with Trump representatives regarding “missing boxes” that, according to a draft email to the attorney general, were reported as having been “possibly destroyed.” The defense, along with a coalition of news media, asked the court to unseal these exhibits, arguing that the court filings are “matters of public record.” The defense has accused the prosecution of withholding potentially exculpatory evidence and alleged bias in the investigation. The filings made public on Monday revealed previously sealed information while limiting the redactions to keeping secret the names of government witnesses.

They were included as exhibits in a motion to compel the prosecution to produce discovery material. In the Jan. 16 motion, they argued that the office of Special Counsel Jack Smith has engaged in discovery violations and has disregarded fundamental fairness in its pursuit of prosecuting President Trump. The disclosures come amid a protracted battle over court documents, with Judge Aileen Cannon having reminded both parties in various court filings of the “strong presumption of public access” in the criminal proceedings, showing a preference for making public as much as possible. In January, she ordered that no unclassified material be sealed unless there were clear risks to personal safety or national security. The back-and-forth over documents has extended the pre-trial motions stage and delayed the original May 20 trial date.

Rising
https://twitter.com/i/status/1781030864681374166

Watters CIA

Mollie

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“Gen Z renters are by far the most likely to believe they will become homeowners (maybe it’s because they are also the dumbest)..”

• Biden’s America: 40% Of Renters Think They’ll Never Own A Home (ZH)

Bidenomics 101: the American dream of owning a home has become the American nightmare for almost half the US population. As housing specialist Redfin reports, rising home prices and mortgage rates “are making it harder to believe in the American dream of homeownership. Lack of affordability is the most commonly cited reason renters don’t believe they’ll ever own a home.” The details are dire: Nearly two in five (38%) U.S. renters don’t believe they’ll ever own a home, up from roughly one-quarter (27%) less than a year ago. This is according to a Redfin-commissioned survey of roughly 3,000 U.S. residents conducted by Qualtrics in February 2024. This report focuses on the 1,000 respondents who indicated they are renters. The relevant questions were: “Do you believe that you will ever own your own home in the future?” and “Which of the following are reasons you aren’t likely to purchase a home in the near future?” The 27% comparison is from a Redfin survey conducted in May and June 2023.

Lack of affordability is the prevailing reason renters believe they’re unlikely to become homeowners. Nearly half (44%) of renters who don’t believe they’ll buy a home in the near future said it’s because available homes are too expensive. The next most common obstacles: Ability to save for a down payment (35%), ability to afford mortgage payments (33%) and high mortgage rates (32%). Roughly one in eight (14%) simply aren’t interested in owning a home. Buying a home has become increasingly out of reach for many Americans due to the one-two punch of high home prices and high mortgage rates. First-time homebuyers must earn roughly $76,000 to afford the typical U.S. starter home, up 8% from a year ago and up nearly 100% from before the pandemic, according to a recent Redfin analysis. Home prices have skyrocketed more than 40% since 2019, due to the pandemic homebuying frenzy and a shortage of homes for sale. And the current average 30-year fixed mortgage rate is 6.82%. While that’s below the 23-year-high of nearly 8% hit in October, it’s still more than double the record low rates dropped to in 2020.

Home prices have risen 7% in the last year alone, and monthly mortgage payments have risen more than 10%, which helps explain why renters today are more likely than they were last year to say they don’t see themselves owning a home anytime soon. Many renters can’t fathom homeownership because they’re already struggling to afford their monthly housing costs. Nearly one-quarter (24%) of renters say they regularly struggle to afford their housing payments, and an additional 45% say they sometimes struggle to do so. Rents have soared over the last few years because so many people moved during the pandemic, upping demand for rentals. The median U.S. asking rent is roughly $2,000, near the record high hit in 2022–but the good news for renters is that prices aren’t growing nearly as fast as they were during the pandemic, partly because an influx of apartment supply is taking some of the heat off prices.

“Housing costs are high across the board, but renting is a more affordable and realistic option for many Americans right now–especially those who have never owned a home and aren’t able to tap into equity from a previous sale,” said Redfin Chief Economist Daryl Fairweather. “While owning a home is usually a sound longterm investment, the barriers to entry and upfront costs of buying are higher than renting. Buying typically requires a sizable down payment and approval for a mortgage–things that are difficult for many people today, when the typical down payment is near $60,000 and mortgage payments are sky-high. The sheer expense of purchasing a home is causing the American Dream of homeownership to lose some of its shine.” Broken down by generation, Gen Z renters are by far the most likely to believe they will become homeowners (maybe it’s because they are also the dumbest). Just 8% of Gen Z renters believe they’ll never own a home, compared to 22% of millennials, 40% of Gen Xers and 81% of baby boomers.

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“Section 702 may be used to force business landlords, cleaning contractors, delivery personnel, utility providers, etc, to help U.S. security agencies spy without probable cause..”

• Biden Terrifyingly Grows Ranks Of Government Spies (Gosztola)

On April 20, Edward Snowden declared, “America lost something important today, and hardly anyone heard. The headlines of state-aligned media screech and crow about the nefarious designs of your fellow citizens and the necessity of foreign wars without end, but find few words for a crime against the Constitution.” The NSA whistleblower was referring to the United States Senate reauthorizing and expanding surveillance under Section 702 of the Foreign Intelligence Surveillance Act. President Joe Biden circulated a memo that cast the Fourth Amendment right to privacy as a “threat to national security.” Biden National Security Advisor Jake Sullivan and Attorney General Merrick Garland called members of Congress to ensure that they voted to give spy agencies renewed power. Specifically, “Patriot Act 2.0,” as Representative Zoe Lofgren called it, broadened the definition of service providers and exponentially increased the power that the government has to force numerous business and industries to aid warrantless surveillance.

Senator Ron Wyden strongly opposed the legislation and even introduced an amendment that would have prevented this assault on civil liberties. But the Senate rejected his effort to protect privacy. “The Senate waited until the 11th hour to ram through renewal of warrantless surveillance in the dead of night,” Wyden stated. He also added, “It is clear from the votes on very popular amendments that senators were unwilling to send this bill back to the House, no matter how common-sense the amendment before them.” Although the Foreign Intelligence Surveillance Court (FISC) renewed Section 702 until April 2025, allowing lawmakers plenty of time to appropriately draft and amend legislation, panic was stirred by Biden and the national security state.

Wyden, who has a track record of challenging surveillance, did not mince words. He described the provision that he fought, which was dubbed the “Make Everyone A Spy” provision, as “one of the most dramatic and terrifying expansions of government surveillance authority in history.” “It allows the government to force any American who installs, maintains, or repairs anything that transmits or stores communications to spy on the government’s behalf. That means anyone with access to a server, a wire, a cable box, a wifi router, or a phone. It would be secret: the Americans receiving the government directives would be bound to silence, and there would be no court oversight.”

The Biden administration applauded the passage of legislation that expanded warrantless surveillance. “The President will swiftly sign the bill into law, ensuring that our security professionals can continue to rely on Section 702 to detect grave national security threats and use that understanding to protect the United States,” Sullivan stated. Section 702 used to primarily apply to telecommunications or technology companies. Now, as detailed by Demand Progress, Section 702 may be used to force business landlords, cleaning contractors, delivery personnel, utility providers, etc, to help U.S. security agencies spy without probable cause. Entities and individuals required to help with surveillance cannot speak about it. Their First Amendment speech rights are curtailed as they violate their customers’ Fourth Amendment privacy rights.

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“The minute the dollar goes, American power goes with it. Most of the world can hardly wait for it to happen.“

• The Real Debt Problem (Paul Craig Roberts)

The US dollar is in trouble, but it is trouble of Washington’s making. Republicans and the financial press, to the extent that one still exists, blame the dollar’s trouble on rising public and private debt. The US runs massive trade and budget deficits. These deficits for decades have been alleged to mean the death of the dollar. The narrative was that the dollar would be weakened by having to finance rising trade and domestic debt. When I was in the Congressional staff and later as Assistant Secretary of the US Treasury for Economic Policy, I had to deal with this ignorance, and it was frustrating. No one in Congress, on Wall Street, in the banks, or in the economics departments of universities understood the meaning of the US dollar as reserve currency.

When a country’s currency is the reserve currency, a role the US seized from Great Britain as its World War II victory prize, it means that there is unlimited demand for your debt. The reason is that your debt is the reserves of the world’s central banks. An increase in US debt is an increase in the reserves of the world banking system. As central banks desire more reserves, there was always a demand for US Treasury debt. There was zero financing problem. All of the nonsense we heard for decades about the impossibility of paying off the US debt was unbridled ignorance. The debt did not need to be payed off. If it had been, the reserves of the world banking system would have collapsed, and the Great Depression that the Americans experienced in the 1930s, due entirely to the Fed’s failure to expand bank reserves, would be worldwide.

Being the world currency, a role Roosevelt stole from England, means the US can pay its international bills by printing money or issuing debt. What has put this American privilege in danger is Washington’s stupid, indeed mindless, imposition of economic sanctions that then are evaded by ceasing to use the US dollar as world money. When countries cease settling their international balance of payments accounts in dollars, as Russia, China, Iran and other countries are doing, demand for Treasury debt drops. This means as the sanctioned central banks move to gold and non-Western currencies as reserves, that the demand for US Treasury debt drops, and for the first time in recent history, financing America’s tremendous public debt becomes a problem.

To be completely clear, the ONLY reason the US dollar is in danger of a large reduction in its value, is that Biden’s sanctions are driving countries away from the dollar. US debt can become a problem only from the abandonment of the dollar as world money. As US debt is denominated in US dollars, the Federal Reserve can always pay off the US debt no matter how large it is by printing money and buying the bonds. The problem is not that the debt can’t be paid. The problem is whereas the Fed can print dollars to meet any debt payments, it cannot print foreign currencies with which to buy dollars in foreign exchange markets. When US Treasury debt is redeemed, the debt holders (largely foreign central banks) receive dollars. If they have lost confidence in the dollar, they sell the dollars in the currency markets, and the enormous supply of dollars drive down its value.

When the dollar’s value is driven down, the offshored production of American firms, who produce in Asia and Mexico the products they sell to Americans and which comes in as imports, rise in price, thus causing domestic inflation, reducing the dollar’s purchasing power and causing more exit from the dollar. In other words, it is a death scenario–one produced by the Federal Reserve, the incompetent or bought-and-paid-for American economists, a mindless American government, and the mindless financial press. The minute the dollar goes, American power goes with it. Most of the world can hardly wait for it to happen.

JFK

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To achieve what?

• Ukraine Has Lost Almost a Half Million Soldiers – Shoigu (Sp.)

The Russian armed forces have the initiative along the entire contact line and are pushing the enemy away from the occupied borders, Russian Defense Minister Sergei Shoigu said at a meeting of the Defense Ministry’s board. Ukraine has lost almost half a million soldiers since the beginning of the special military operation in 2022, Russian Defense Ministry Sergei Shoigu said on Tuesday. “In total, the losses of the Ukrainian armed forces amounted to almost half a million military personnel since the beginning of the special military operation,” Shoigu told a Defense Ministry meeting. According to him, the Kiev regime failed to achieve its goals in the counteroffensive prepared by NATO instructors. “Our servicemen have dispelled the myth about the superiority of Western weapons,” the minister noted. The Russian military will more intensively target Ukrainian logistic centers and storage facilities storing Western weapons, the minister said.

“We will increase the intensity of strikes against logistics centers and storage bases for Western weapons,” Shoigu said. Most of the $61 billion assistance package that the United States allocated to Ukraine will finance the US military industry, Sergei Shoigu said. “Washington intends to allocate almost $61 billion to the Kiev regime to prevent the collapse of the Ukrainian armed forces. Most of the allocations will finance the military industry of the United States. The US authorities cynically declare that Ukrainians will die for their interests in the fight against Russia,” Shoigu said. The Russian military industry will continue to increase the production of weapons and military equipment in proportion to the threats posed by the United States and its allies, the minister added. The Russian Army will receive the first units of new-generation anti-aircraft systems, Russian Defense Minister Sergei Shoigu said. “This year the troops will receive: the first units of the new-generation S-500 anti-aircraft missile system in two modifications – long-range anti-aircraft missile systems and missile defense systems; S-400, S-300V4, Buk-M3, Tor-M2U anti-aircraft missile systems; and new-generation radar stations,” Shoigu said.

NATO has deployed up to 33,000 servicepeople, about 300 tanks and more than 800 other types of armored vehicles near borders of Russia, the Russian defense minister said. “Today, the grouping of NATO reinforcement troops near our borders numbers up to 33,000 people, about 300 tanks and more than 800 other armored combat vehicles,” Shoigu said. Shoigu also said that NATO drills involving up to 90,000 servicepeople are taking place right now, and the exercises are mimicking supposed impending Russian aggression. The Russian minister also said that the alliance is trying to strengthen its activity in the Arctic, while Sweden’s accession to NATO has increased tensions. “Sweden’s entry into the North Atlantic Alliance in early March has increased military and political tensions in the Western and Northwestern strategic directions,” Shoigu said.

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“According to EU officials, an estimated 650,000 Ukrainian men of fighting age are living in the bloc..”

• No Hiding From Draft Abroad – Kiev (RT)

Ukrainian consular offices will not serve fighting-age men living abroad who are unwilling to risk their lives for their country’s survival, Foreign Minister Dmitry Kuleba said on Tuesday. Kiev’s diplomatic missions in several Western nations stopped processing such service requests on Tuesday, according to multiple Ukrainian media reports. Documents that have been finalized for fighting-age Ukrainian men are being withheld, reports claim. Kuleba confirmed in a social media post on Tuesday that he had ordered the policy change and that it is meant to encourage men to come back to Ukraine for possible call up for military service. ”How it looks like now: a man of conscription age went abroad, showed his state that he does not care about its survival, and then comes and wants to receive services from this state. It does not work this way. Our country is at war,” he wrote.

The order to deny consular services to all men aged 18 to 60 was first revealed by Ukrainian media on Monday. Kuleba has since described his decision as “fair” and in line with the controversial military mobilization reforms, which President Vladimir Zelensky signed into law this month. The changes include various punishments for avoiding the draft. According to EU officials, an estimated 650,000 Ukrainian men of fighting age are living in the bloc. Kiev has identified that pool as a significant untapped source of manpower for the armed forces. When they come into force next month Zelensky’s reforms will lower the draft age from 27 to 25, tighten exemptions and oblige potential conscripts to update their personal data with the Defense Ministry.

All men aged 18 to 60, regardless of eligibility, will be required to carry papers confirming their registration with a conscription office. Asked in early April how many troops Kiev intended to mobilize, Zelensky dodged the question and claimed that Moscow had plans to enroll 300,000 additional servicemen. Russian officials denied his claim, pointing out that its military attracts enough volunteers to meet personnel goals.

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“They bought Manhattan Island for beads, and Ukrainians don’t even get those, only an American noose around the neck,..

• West Is Doing To Ukrainians What It Did To Indigenous Americans – Zakharova (RT)

Kiev’s policies will result in the extermination of Ukrainians on behalf of its Western puppet masters, Russian Foreign Ministry spokeswoman Maria Zakharova has claimed. The Ukrainian Foreign Ministry intends to deny all consular services abroad to male citizens aged 18 to 60, except for preparing documents to return to Ukraine, local media reported on Monday, citing the ministry’s internal correspondence. The policy is presumably meant to force men of fighting age to leave foreign nations and be conscripted into military service under a new mobilization law signed by President Vladimir Zelensky this month. The people are being “erased by Western elites and their executors in Ukraine – Zelensky and his pseudo-Ukrainian gang,” Zakharova said on Tuesday, reacting to the news.

She claimed that while Ukrainian governments that have been in power since the 2014 US-backed armed coup in Kiev posed as nationalist, their policies came “from people who historically had nothing to do with the country.” “After most of Ukraine was pillaged and looted, its history rewritten, and monuments destroyed, they moved on to the physical elimination of its indigenous population,” she said. ”Everything just like with the aboriginal population of North America, who were killed in the tens of thousands by the ‘civilized’ folk. They bought Manhattan Island for beads, and Ukrainians don’t even get those, only an American noose around the neck,” Zakharova added. Moscow perceives its conflict with Kiev as a proxy war which Washington initiated and is willing to conduct “to the last Ukrainian.”

Senior Western officials, including US Senator Lindsey Graham and former UK Prime Minister Boris Johnson, have praised the Ukrainians’ willingness to fight and die for Western interests. ”There could be no more effective way of investing in Western security than investing in Ukraine, because those guys without a single pair of American boots on the ground are fighting for the West,” Johnson said earlier this month, as he bragged to students at Georgetown University in the US about his record of arming Kiev.

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Drills are all German troops are capable of.

• Germany Holds Massive Military Drills Near Russian Border (RT)

More than 3,000 German military personnel are taking part in the Grand Quadriga 2024 drills that kicked off in Lithuania on Tuesday. The maneuvers are part of the larger, months-long Steadfast Defender 24 series of NATO exercises that began in late January. Lithuania shares a border with Russia’s Kaliningrad exclave, as well as Moscow’s closest ally, Belarus. In a separate development earlier this month, Berlin deployed an advanced military team to the Baltic country as part of plans for a full-strength armor brigade permanently stationed there. Moscow has described the plans as a threat requiring “special measures” in response. The Grand Quadriga 2024 exercise is scheduled to wrap up in late May, and will involve 200 pieces of German military hardware, including Leopard tanks as well as Puma and Boxer infantry fighting vehicles.

In a statement last Thursday, the Lithuanian military wrote that the “exercise is centered around moving two divisions from the Central European region to the Eastern.” “Lithuanian units training side by side with the German participants will plan and execute operations,” the document read. The Bundeswehr revealed that its armored division would be transported by boat, rail and road to Lithuania, where it would “practice defense and counter-offensive [exercises] on the allied territory.” Several more military drills will also be taking place in Lithuania concurrently, including Saber Strike, Brave Griffin 2024/II and Thunder Strike – all of which are part of NATO’s Steadfast Defender 24. Hailed as the largest exercises that NATO has held in decades, the maneuvers will feature some 90,000 troops from all 32 member states, according to Supreme Allied Commander for Europe Christopher Cavoli.

Some 1,100 combat vehicles, including 133 tanks and 533 infantry fighting vehicles, will be involved, as well as more than 50 naval vessels and 80 helicopters, drones and fighter jets. In January, General Cavoli said the drills would simulate an “emerging conflict scenario against a near-peer adversary,” covering thousands of kilometers all across Europe. Commenting on NATO’s war games in early March, the secretary of the Russian Security Council, Nikolay Patrushev, said they were “undoubtedly increasing tensions and destabilizing the situation in the world.” He claimed that a “scenario of an armed confrontation with Russia is being rehearsed.”

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“..the “independent charity that champions Ukrainian culture” which, the institute financial reports reveal, is paid for by George Soros.”

• A Nasty Little Book About The Allied Invasion Of Russia In 1918 (Helmer)

In the last war which the Americans, British, and French fought against the Russians, they were all defeated and forced to run away. Now it’s happening again. But if Anna Reid, author of a new history of the Allied powers’ invasion of Russia and war against the Bolsheviks, titles her book “A Nasty Little War” (lead image, left), what title does Reid give to the present war which the Doughboy alliance is losing for the second time? A Nasty Big War doesn’t quite do their plan for destroying Russia enough justice, does it? A Nasty Little Defeat followed by a Nasty Big Defeat comes closer to the truth, but Reid has written her book in the conviction that it will not and must not come to that again. One hundred and six years since the Russia Intervention of 1918-20 is long enough for Reid to conclude with one of her contemporary British officer sources: “‘Of course it could not possibly be otherwise. But it is unfortunate that events worked out as they did.’ It could have been the epitaph for the whole Intervention,” Reid adds from the British point of view, then but not now.

“So ends a not very creditable enterprise”, she quotes from a report on the desk of British Foreign Secretary Lord Curzon in April 1920. Curzon then crossed out “not very” and wrote in “highly dis”. Reid is so certain this is not the lesson of today’s allied war against Russia she declares her conclusion at the very beginning of her book. “There is no simple read-across from the Intervention. Today’s war is not a civil one, and the impressive and staunchly democratic Ukrainians are not the inept, revanchist Whites. The lazy lesson from 1918-20 – that Western meddling in the region failed then, and will again now – is completely mistaken. If the Intervention does have something to teach, it is that Putin will fail for the same reason the Whites did: because he underestimates the desire for freedom of the non-Russian nations…” This declaration is at page 10. Reid’s history runs on for another 350 pages of the same.

Reid cannot bring herself to introduce or mention the Russian president by his full name. He first appears, first name-less, on page 9 “as Putin’s Russia attempts to reconquer its thirty-years independent Ukraine.” Felix Dzerzhinsky, Bolshevik head of intelligence, is more fortunate with Reid. He gets his full name, but Reid adds: “the weasel-faced psychopath in charge of the Cheka”. Dangerous adjectives, weasel-faced psychopaths in glass houses with hands full of them. Reid has similar tongue trouble with how to identify the Russians in the war by name. She repeatedly refers to them as “the enemy”, because the war diaries and operation reports of the British commanders she was reporting described them so at the time. Their soldiers called them “Bolos” or “Russkis” if they were men; if they were women, they used fonder terms. These men did not want to fight – there were mutinies by the Quebec infantry in the Canadian force, as well as in US, French, and British units. More committed to killing Russians were the Japanese and Greek forces. At every turn of events, Reid continues to wage her war against the Russian history of what happened:

“The Americans arrived [in Vladivostok] just in time for a coup. Soviet historians accused the Interventionists of waging a colonial war. This was anachronistic – the hey-day of imperialism was over and untrue insofar as the Allies had no ambition permanently to annex Russian territory.” “Vilified by Cold War-era historians on the left as absurd and hysterical, most of the material [in the British Foreign Office’s Blue Book of Bolshevik war crimes] is in fact perfectly credible”. “Foreshadowing, ironically, a late-Soviet propaganda trope, he [Winston Churchill, then British war minister] blamed what pogroms there were on Ukrainian ‘hordes’.”“There is some truth…in that the Intervention played into a long-standing Russian narrative of encirclement by hostile powers. But it is hard to see, had the Allies stood back, that relations would have been much better. A one-party state explicitly dedicated to worldwide revolution, the Soviet Union was never going to be a normal diplomatic partner”.

This is history topsy-turvied to fit a political message. “Excellent background to today’s events” – this is the endorsement of Reid’s book by Anne Applebaum, wife of the Polish foreign minister, Radoslav Sikorski, whose Siklebaum profiteering from Russia war-making can be followed here. In London, Reid shares direction of the Ukrainian Institute with Applebaum — Applebaum is a patron, Reid a trustee of the “independent charity that champions Ukrainian culture” which, the institute financial reports reveal, is paid for by George Soros.

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“..The Islamic world needs to come together..”

• Gaza Settlement Crucial For Islamic World – Erdogan (TASS)

The Islamic world needs to come together and find a solution to the Gaza crisis, Turkish President Recep Tayyip Erdogan told his pool reporters on his return from Iraq, where he was on a visit on April 22; the Anadolu news agency quoted his remarks. “Gaza is where the Islamic world needs to focus, engage in reasoning for a solution, and formulate realistic and effective policies,” the president said. Erdogan added that Turkey will continue to discuss these issues with both representatives of the radical Palestinian Hamas movement and the leaders of countries. This is Turkey’s top priority and it will do everything it can toward this end, Erdogan went on to say.

In his opinion, it would be a mistake to view the Gaza issue solely from the perspective of October 7, 2023, when the Palestinian-Israeli conflict sharply escalated. “The massacres and Israeli mobilization for the destruction of Gaza should change the approach to the issue. Israel’s occupation of Gaza opens the door for other occupations. We will try to involve the UN secretariat and take joint action. If the Islamic world does not come to its senses from the massacres reaching genocidal proportions, it may lose its reflexes completely. Therefore, we cannot remain silent, we must mobilize,” the Turkish president stressed.

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“..if it attempts to attack Iran again..”

• Iran Threatens To Wipe Out Israel (RT)

Iranian President Ebrahim Raisi has threatened Israel with annihilation if it attempts to attack Iran again. Raisi arrived in Pakistan on Monday for a three-day visit. He addressed the recent tensions between Tehran and West Jerusalem at an event in Punjab on Tuesday. “If the Zionist regime once again makes a mistake and attacks the sacred land of Iran, the situation will be different, and it is not clear whether anything will remain of this regime,” the state news agency IRNA quoted Raisi as saying. Israel never officially acknowledged an April 1 airstrike on the Iranian consulate in Damascus, Syria that killed seven senior officers of the Islamic Revolutionary Guard Corps (IRGC) Quds Force. Tehran nevertheless retaliated on April 13, firing scores of drones and missiles at several targets in Israel.

Iran has shrugged off a series of reported explosions near the city of Isfahan last Friday, which were rumored to be a response from Israel. West Jerusalem did not acknowledge the reported attack, while criticizing a cabinet minister who spoke about it out of turn. Tehran chose to ignore it rather than deliver the promised swift and severe reprisal. The Islamic Republic has vowed on multiple occasions to wipe out, destroy or annihilate the “Zionist regime,” as it calls Israel. Speaking in Lahore on Tuesday, Raisi vowed to continue “honorably supporting the Palestinian resistance.” He also denounced the US and the collective West as “the greatest violators of human rights,” pointing to their support for the Israeli “genocide” in Gaza.

So far, more than 34,000 Palestinians in the enclave have been killed in Israeli military operations. Israel declared war on Hamas after the October 7 raids by the Gaza-based Palestinian group that claimed the lives of an estimated 1,200 Israelis. Raisi has promised to boost Iranian trade with Pakistan to $10 billion annually. Relations between the two neighbors have been rocky since January, when Iran and Pakistan traded air and drone strikes aimed at “terrorist camps” in their respective territory.

Read more …

“The slave trade in Ukraine has become one of the most serious problems of our time..”

• Western Regime-Change Operations Enable Criminal Activities (SCF)

The slave trade in Ukraine has become one of the most serious problems of our time. Since the 2014 coup d’état, Kiev has been a key player in modern slavery, particularly for human trafficking and sexual exploitation networks. The political and social instability that has affected the country since the Western-led regime change operation is one of the main factors for the growth of such human rights violations. A recent investigative report published by the Foundation to Battle Injustice showed in details the seriousness of the slave trade in Ukraine. According to the organization, Kiev has become one of the main global hubs in the human trafficking market, with free exploitation and circulation of irregular workers – in addition to the well-known trafficking of women and children in the predatory sex market.

The study points out that more than 300,000 Ukrainians were victims of the slave market between 1991 and 2021. This situation, however, has deteriorated even further since Vladimir Zelensky came to power. It is estimated that since the beginning of Zelensky’s government, more than 550,000 Ukrainians have been enslaved. These numbers are alarming and place Ukraine as one of the main agents of human trafficking in the entire world. In its report, citing sources familiar with the topic and several insiders, the Foundation exposed how the slave trade in Ukraine is not limited to the exploitation of Ukrainian citizens. Since 2021, two reception centers for refugees from Africa have been operating in Ternopil. These facilities were used not only for receiving migrants but also for selling them on the European black market.

An alleged member of the Ukrainian Presidential Cabinet, on condition of anonymity, reported to investigators that the organizer of the Ukrainian human trafficking network is Ruslan Stefanchuk, current chairman of the Verkhovna Rada. It is said that Stefanchuk is the main beneficiary and coordinator of human trafficking networks in Ukraine, working both in the sale of Ukrainian citizens on the international black market and in the exploitation of foreigners who arrive through migratory flows and are handed over to criminal networks in Europe. Relatives of the Ukrainian parliamentarian also appear to be involved in such activities, as a large network of private companies is legally registered in the name of people close to him, such as his brother, Mykola Stefanchuck, and his wife, Marina Stefanchuk.

Stefanchuk and his relatives’ companies have the function of disguising the slave trade, making it appear to be a legal business. Advertisements are made to “help” people in various ways, such as offering employment or financial assistance. Thus, migrants, refugees and vulnerable Ukrainians are lured into meetings and interviews by supposedly legal and responsible companies, but soon after the meetings their documents are confiscated, and these people are captured and handed over to criminal networks. “Everything is built to look as legal as possible. Ukrainian women, children and men are invited for interviews at respectable companies in Kiev, Ternopil, Lviv or Ivano-Frankivsk. They are made tempting financial offers and paradisiacal working conditions. Then, under a plausible pretext, their identity cards are confiscated. After that, they can do absolutely anything they want with them,” source told investigators.

Read more …

Oh sure. “..we’re not going to know they’re not good until they’re shooting at us, and I don’t want to be in a position where I find out, ‘Oh, they actually are that good’. That’s a problem.”

• US Would Beat China In A War – Intel Official (RT)

If a conflict between Washington and Beijing broke out today, the more experienced American force would prevail but with significant casualties, a US military intelligence official has told reporters. The unnamed official gave a background briefing on Monday about threats facing the US military. He downplayed the Chinese H-20 stealth bomber, currently in development, as “probably nowhere near as good” as the American B-2 or the upcoming B-21 – while praising the Chinese J-20 fighter as “highly capable.” “The biggest… challenge for the Chinese side is actually not so much capability of actual systems, it’s more capability of personnel to effectively employ those systems at speed and at scale,” the official was quoted as saying by Defense One and Breaking Defense.

While the US military has “a lot of experience fighting wars,” the Chinese “don’t really have anybody right now at all, in the [People’s Liberation Army] PLA, who’s actually been in a war.” This relative inexperience would translate into the US winning a hypothetical war with China – although with large-scale losses – should one break out today, said the Defense One source. The Pentagon is proceeding with plans to modernize the US military because Chinese President Xi Jinping “almost certainly” believes a war with Washington is inevitable, noted the official. “I don’t want to rely on the Chinese not being good. Because we’re not going to know they’re not good until they’re shooting at us, and I don’t want to be in a position where I find out, ‘Oh, they actually are that good’. That’s a problem.” the official concluded.

Discussions about Chinese capabilities in Washington have been taking place against the backdrop of a debate about the B-21 bomber program. In February, Air Force Secretary Frank Kendall urged the government to commit to the program, arguing that for at least 20 years, China has been building a military “purpose-built to deter and defeat” the US. Earlier this month, however, Air Force chief of staff General David Allvin told the Senate that new developing technologies might complement the B-21, so the service might not end up getting 100 of the bombers as originally planned. The plane, intended to become operational by 2030, is still under development at Northrop Grumman.

Read more …

“We must not overstate the danger. We’re not on the brink of war, and nor do we seek it..”

• Britain To Put Industry On ‘War Footing’ – PM (RT)

The UK is set to embark on the “biggest strengthening” of its national defense “in a generation” and plans to gradually increase defense spending to £87 billion (around $108 billion) annually by 2030, Prime Minister Rishi Sunak has announced. Sunak made the remarks on Tuesday at a joint press conference with NATO Secretary-General Jens Stoltenberg while on a visit to Poland. Sunak pledged to gradually increase Britain’s defense spending, promising to even surpass the NATO-targeted 2% of GDP by the end of the decade. Annual spending is expected to reach the £87 billion ($108 billion) mark in 2023, he said, constituting some 2.5% of Britain’s GDP.

London is set to allocate additional long-term funding for ammunition production, Sunak stated, arguing that the Ukraine conflict has clearly shown the country needs deeper stockpiles should it find itself in a large-scale high-intensity war or even a global conflict. “We will put the UK’s own defense industry on a war footing. One of the central lessons of the war in Ukraine is that we need deeper stockpiles of munitions and for industry to be able to replenish them more quickly,” Sunak said. “Today is a turning point for European security and a landmark moment in the defense of the United Kingdom. It is a generational investment in British security and British prosperity, which makes us safer at home and stronger abroad,” he stated, hailing the spending plan as the “biggest strengthening of our national defense in a generation.”

The defense spending announcement comes as the UK, one of the top backers of Ukraine in its conflict with Russia, unveiled its biggest-ever military aid package for Kiev, valued at £500 million ($617 million). The “vital munitions” package will include more than 400 combat vehicles, 60 boats, and an undisclosed number of long-range Storm Shadow missiles. “Defending Ukraine against Russia’s brutal ambitions is vital for our security and for all of Europe,” Sunak alleged. “If [Russian President Vladimir] Putin is allowed to succeed in this war of aggression, he will not stop at the Polish border.” Speaking earlier in the day in Warsaw, however, the prime minister admitted that a large-scale conflict was not actually imminent and its danger should not be blown out of proportion. “We must not overstate the danger. We’re not on the brink of war, and nor do we seek it,” he acknowledged.

Read more …

“..the philosopher’s call “to live by one’s own wits” is as relevant today as ever..”

• German Leader Tells Putin He Can’t Quote Philosopher Kant (RT)

German Chancellor Olaf Scholz has lashed out at Russian President Vladimir Putin for quoting iconic German philosopher Immanuel Kant. Speaking on Tuesday at an event marking the 300th anniversary of Kant’s birth, Scholz accused Putin of trying to “poach” the great thinker as well as misrepresenting his ideas. Kant was born in 1724 in Koenigsberg (present-day Kaliningrad), which belonged to the Kingdom of Prussia before later becoming part of the Russian Empire. The philosopher is famous for his work on ethics, aesthetics and philosophical ontology, and is considered one of the pillars of German classical philosophy. “Putin doesn’t have the slightest right to quote Kant, yet Putin’s regime remains committed to poaching Kant and his work at almost any cost,” Scholz said at the Berlin-Brandenburg Academy of Sciences, as quoted by Die Zeit.

Scholz said Russia’s role in the Ukraine conflict contradicts Kant’s fundamental teachings. He referred to Kant’s words on the interference of states in the affairs of other nations, and defended Kiev’s decision not to engage in peace talks with Moscow. He said Kant believed that forced treaties were not the way to reach ‘perpetual peace’ – a reference to one of Kant’s major works. Putin has been known to praise and quote Kant, even suggesting in 2013 that the philosopher should be made an official symbol of Kaliningrad Region. During a meeting with university students in Kaliningrad in January, Putin called Kant “one of the greatest thinkers of both his time and ours,” and said the philosopher’s call “to live by one’s own wits” is as relevant today as ever.

“A country must live by its own wits… This does not mean that we do not care about the interests of others… but we will never allow Russia’s interests to be neglected. In some countries, among our neighbors, this thesis has been forgotten. Many live by someone else’s wits. This will not bring them any good,” Putin stated. The administration of Kaliningrad Region responded to Scholz’s statement on Tuesday, saying no one has done more than Russia to “perpetuate the memory of the great philosopher and his teachings.” “Immanuel Kant died as a subject of the Russian crown. It seems to me that this, more than any words of all possible German politicians, shows the position of the great philosopher regarding Russia,” the governor’s press secretary, Dmitry Lyskov, said in a statement.

Read more …

 

 

 

 

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Musk Oz

 

 

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Spartacus

Sep 262021
 
 September 26, 2021  Posted by at 12:28 pm Finance Tagged with: , , , , , , , , , ,  57 Responses »


Gustave Caillebotte Rue Mont-Cenis, Montmartre 1880

 

 

This is an anonymously posted document by someone who calls themselves Spartacus. Because it’s anonymous, I can’t contact them to ask for permission to publish. So I hesitated for a while, but it’s simply the best document I’ve seen on Covid, vaccines, etc. Whoever Spartacus is, they have a very elaborate knowledge in “the field”. If you want to know a lot more about the no. 1 issue in the world today, read it. And don’t worry if you don’t understand every single word, neither do I. But I learned a lot.

The original PDF doc is here: Covid19 – The Spartacus Letter

 

 

Hello,

My name is Spartacus, and I’ve had enough.

We have been forced to watch America and the Free World spin into inexorable decline due to a biowarfare attack. We, along with countless others, have been victimized and gaslit by propaganda and psychological warfare operations being conducted by an unelected, unaccountable Elite against the American people and our allies.

Our mental and physical health have suffered immensely over the course of the past year and a half. We have felt the sting of isolation, lockdown, masking, quarantines, and other completely nonsensical acts of healthcare theater that have done absolutely nothing to protect the health or wellbeing of the public from the ongoing COVID-19 pandemic.

Now, we are watching the medical establishment inject literal poison into millions of our fellow Americans without so much as a fight.

We have been told that we will be fired and denied our livelihoods if we refuse to vaccinate. This was the last straw.

We have spent thousands of hours analyzing leaked footage from Wuhan, scientific papers from primary sources, as well as the paper trails left by the medical establishment.

What we have discovered would shock anyone to their core.

First, we will summarize our findings, and then, we will explain them in detail. References will be placed at the end.

 

Summary:

 

• COVID-19 is a blood and blood vessel disease. SARS-CoV-2 infects the lining of human blood vessels, causing them to leak into the lungs.
• Current treatment protocols (e.g. invasive ventilation) are actively harmful to patients, accelerating oxidative stress and causing severe VILI (ventilator-induced lung injuries). The continued use of ventilators in the absence of any proven medical benefit constitutes mass murder.
• Existing countermeasures are inadequate to slow the spread of what is an aerosolized and potentially wastewater-borne virus, and constitute a form of medical theater.
• Various non-vaccine interventions have been suppressed by both the media and the medical establishment in favor of vaccines and expensive patented drugs.
• The authorities have denied the usefulness of natural immunity against COVID-19, despite the fact that natural immunity confers protection against all of the virus’s proteins, and not just one.
• Vaccines will do more harm than good. The antigen that these vaccines are based on, SARS-CoV- 2 Spike, is a toxic protein. SARS-CoV-2 may have ADE, or antibody-dependent enhancement; current antibodies may not neutralize future strains, but instead help them infect immune cells. Also, vaccinating during a pandemic with a leaky vaccine removes the evolutionary pressure for a virus to become less lethal.
• There is a vast and appalling criminal conspiracy that directly links both Anthony Fauci and Moderna to the Wuhan Institute of Virology.
• COVID-19 vaccine researchers are directly linked to scientists involved in brain-computer interface (“neural lace”) tech, one of whom was indicted for taking grant money from China.
• Independent researchers have discovered mysterious nanoparticles inside the vaccines that are not supposed to be present.
• The entire pandemic is being used as an excuse for a vast political and economic transformation of Western society that will enrich the already rich and turn the rest of us into serfs and untouchables.

 

COVID-19 Pathophysiology and Treatments:

 

COVID-19 is not a viral pneumonia. It is a viral vascular endotheliitis and attacks the lining of blood vessels, particularly the small pulmonary alveolar capillaries, leading to endothelial cell activation and sloughing, coagulopathy, sepsis, pulmonary edema, and ARDS-like symptoms. This is a disease of the blood and blood vessels. The circulatory system. Any pneumonia that it causes is secondary to that.

In severe cases, this leads to sepsis, blood clots, and multiple organ failure, including hypoxic and inflammatory damage to various vital organs, such as the brain, heart, liver, pancreas, kidneys, and intestines.

Some of the most common laboratory findings in COVID-19 are elevated D-dimer, elevated prothrombin time, elevated C-reactive protein, neutrophilia, lymphopenia, hypocalcemia, and hyperferritinemia, essentially matching a profile of coagulopathy and immune system hyperactivation/immune cell exhaustion.

COVID-19 can present as almost anything, due to the wide tropism of SARS-CoV-2 for various tissues in the body’s vital organs. While its most common initial presentation is respiratory illness and flu-like symptoms, it can present as brain inflammation, gastrointestinal disease, or even heart attack or pulmonary embolism.

COVID-19 is more severe in those with specific comorbidities, such as obesity, diabetes, and hypertension. This is because these conditions involve endothelial dysfunction, which renders the circulatory system more susceptible to infection and injury by this particular virus.

The vast majority of COVID-19 cases are mild and do not cause significant disease. In known cases, there is something known as the 80/20 rule, where 80% of cases are mild and 20% are severe or critical. However, this ratio is only correct for known cases, not all infections. The number of actual infections is much, much higher. Consequently, the mortality and morbidity rate is lower. However, COVID-19 spreads very quickly, meaning that there are a significant number of severely-ill and critically-ill patients appearing in a short time frame.

In those who have critical COVID-19-induced sepsis, hypoxia, coagulopathy, and ARDS, the most common treatments are intubation, injected corticosteroids, and blood thinners. This is not the correct treatment for COVID-19. In severe hypoxia, cellular metabolic shifts cause ATP to break down into hypoxanthine, which, upon the reintroduction of oxygen, causes xanthine oxidase to produce tons of highly damaging radicals that attack tissue. This is called ischemia-reperfusion injury, and it’s why the majority of people who go on a ventilator are dying. In the mitochondria, succinate buildup due to sepsis does the same exact thing; when oxygen is reintroduced, it makes superoxide radicals. Make no mistake, intubation will kill people who have COVID-19.

The end-stage of COVID-19 is severe lipid peroxidation, where fats in the body start to “rust” due to damage by oxidative stress. This drives autoimmunity. Oxidized lipids appear as foreign objects to the immune system, which recognizes and forms antibodies against OSEs, or oxidation-specific epitopes. Also, oxidized lipids feed directly into pattern recognition receptors, triggering even more inflammation and summoning even more cells of the innate immune system that release even more destructive enzymes. This is similar to the pathophysiology of Lupus.

COVID-19’s pathology is dominated by extreme oxidative stress and neutrophil respiratory burst, to the point where hemoglobin becomes incapable of carrying oxygen due to heme iron being stripped out of heme by hypochlorous acid. No amount of supplemental oxygen can oxygenate blood that chemically refuses to bind O2.

The breakdown of the pathology is as follows:

SARS-CoV-2 Spike binds to ACE2. Angiotensin Converting Enzyme 2 is an enzyme that is part of the renin-angiotensin-aldosterone system, or RAAS. The RAAS is a hormone control system that moderates fluid volume in the body and in the bloodstream (i.e. osmolarity) by controlling salt retention and excretion. This protein, ACE2, is ubiquitous in every part of the body that interfaces with the circulatory system, particularly in vascular endothelial cells and pericytes, brain astrocytes, renal tubules and podocytes, pancreatic islet cells, bile duct and intestinal epithelial cells, and the seminiferous ducts of the testis, all of which SARS-CoV-2 can infect, not just the lungs.

SARS-CoV-2 infects a cell as follows: SARS-CoV-2 Spike undergoes a conformational change where the S1 trimers flip up and extend, locking onto ACE2 bound to the surface of a cell. TMPRSS2, or transmembrane protease serine 2, comes along and cuts off the heads of the Spike, exposing the S2 stalk-shaped subunit inside. The remainder of the Spike undergoes a conformational change that causes it to unfold like an extension ladder, embedding itself in the cell membrane. Then, it folds back upon itself, pulling the viral membrane and the cell membrane together. The two membranes fuse, with the virus’s proteins migrating out onto the surface of the cell. The SARS-CoV-2 nucleocapsid enters the cell, disgorging its genetic material and beginning the viral replication process, hijacking the cell’s own structures to produce more virus.

SARS-CoV-2 Spike proteins embedded in a cell can actually cause human cells to fuse together, forming syncytia/MGCs (multinuclear giant cells). They also have other pathogenic, harmful effects. SARS-CoV- 2’s viroporins, such as its Envelope protein, act as calcium ion channels, introducing calcium into infected cells. The virus suppresses the natural interferon response, resulting in delayed inflammation. SARS-CoV-2 N protein can also directly activate the NLRP3 inflammasome. Also, it suppresses the Nrf2 antioxidant pathway. The suppression of ACE2 by binding with Spike causes a buildup of bradykinin that would otherwise be broken down by ACE2.

This constant calcium influx into the cells results in (or is accompanied by) noticeable hypocalcemia, or low blood calcium, especially in people with Vitamin D deficiencies and pre-existing endothelial dysfunction. Bradykinin upregulates cAMP, cGMP, COX, and Phospholipase C activity. This results in prostaglandin release and vastly increased intracellular calcium signaling, which promotes highly aggressive ROS release and ATP depletion. NADPH oxidase releases superoxide into the extracellular space. Superoxide radicals react with nitric oxide to form peroxynitrite. Peroxynitrite reacts with the tetrahydrobiopterin cofactor needed by endothelial nitric oxide synthase, destroying it and “uncoupling” the enzymes, causing nitric oxide synthase to synthesize more superoxide instead. This proceeds in a positive feedback loop until nitric oxide bioavailability in the circulatory system is depleted.

Dissolved nitric oxide gas produced constantly by eNOS serves many important functions, but it is also antiviral against SARS-like coronaviruses, preventing the palmitoylation of the viral Spike protein and making it harder for it to bind to host receptors. The loss of NO allows the virus to begin replicating with impunity in the body. Those with endothelial dysfunction (i.e. hypertension, diabetes, obesity, old age, African-American race) have redox equilibrium issues to begin with, giving the virus an advantage.

Due to the extreme cytokine release triggered by these processes, the body summons a great deal of neutrophils and monocyte-derived alveolar macrophages to the lungs. Cells of the innate immune system are the first-line defenders against pathogens. They work by engulfing invaders and trying to attack them with enzymes that produce powerful oxidants, like SOD and MPO. Superoxide dismutase takes superoxide and makes hydrogen peroxide, and myeloperoxidase takes hydrogen peroxide and chlorine ions and makes hypochlorous acid, which is many, many times more reactive than sodium hypochlorite bleach.

Neutrophils have a nasty trick. They can also eject these enzymes into the extracellular space, where they will continuously spit out peroxide and bleach into the bloodstream. This is called neutrophil extracellular trap formation, or, when it becomes pathogenic and counterproductive, NETosis. In severe and critical COVID-19, there is actually rather severe NETosis.

Hypochlorous acid building up in the bloodstream begins to bleach the iron out of heme and compete for O2 binding sites. Red blood cells lose the ability to transport oxygen, causing the sufferer to turn blue in the face. Unliganded iron, hydrogen peroxide, and superoxide in the bloodstream undergo the Haber- Weiss and Fenton reactions, producing extremely reactive hydroxyl radicals that violently strip electrons from surrounding fats and DNA, oxidizing them severely.

 

This condition is not unknown to medical science. The actual name for all of this is acute sepsis.

We know this is happening in COVID-19 because people who have died of the disease have noticeable ferroptosis signatures in their tissues, as well as various other oxidative stress markers such as nitrotyrosine, 4-HNE, and malondialdehyde.

When you intubate someone with this condition, you are setting off a free radical bomb by supplying the cells with O2. It’s a catch-22, because we need oxygen to make Adenosine Triphosphate (that is, to live), but O2 is also the precursor of all these damaging radicals that lead to lipid peroxidation.

The correct treatment for severe COVID-19 related sepsis is non-invasive ventilation, steroids, and antioxidant infusions. Most of the drugs repurposed for COVID-19 that show any benefit whatsoever in rescuing critically-ill COVID-19 patients are antioxidants. N-acetylcysteine, melatonin, fluvoxamine, budesonide, famotidine, cimetidine, and ranitidine are all antioxidants. Indomethacin prevents iron- driven oxidation of arachidonic acid to isoprostanes. There are powerful antioxidants such as apocynin that have not even been tested on COVID-19 patients yet which could defang neutrophils, prevent lipid peroxidation, restore endothelial health, and restore oxygenation to the tissues.

Scientists who know anything about pulmonary neutrophilia, ARDS, and redox biology have known or surmised much of this since March 2020. In April 2020, Swiss scientists confirmed that COVID-19 was a vascular endotheliitis. By late 2020, experts had already concluded that COVID-19 causes a form of viral sepsis. They also know that sepsis can be effectively treated with antioxidants. None of this information is particularly new, and yet, for the most part, it has not been acted upon. Doctors continue to use damaging intubation techniques with high PEEP settings despite high lung compliance and poor oxygenation, killing an untold number of critically ill patients with medical malpractice.

Because of the way they are constructed, Randomized Control Trials will never show any benefit for any antiviral against COVID-19. Not Remdesivir, not Kaletra, not HCQ, and not Ivermectin. The reason for this is simple; for the patients that they have recruited for these studies, such as Oxford’s ludicrous RECOVERY study, the intervention is too late to have any positive effect.

The clinical course of COVID-19 is such that by the time most people seek medical attention for hypoxia, their viral load has already tapered off to almost nothing. If someone is about 10 days post-exposure and has already been symptomatic for five days, there is hardly any virus left in their bodies, only cellular damage and derangement that has initiated a hyperinflammatory response. It is from this group that the clinical trials for antivirals have recruited, pretty much exclusively.

 

In these trials, they give antivirals to severely ill patients who have no virus in their bodies, only a delayed hyperinflammatory response, and then absurdly claim that antivirals have no utility in treating or preventing COVID-19. These clinical trials do not recruit people who are pre-symptomatic. They do not test pre-exposure or post-exposure prophylaxis.

This is like using a defibrillator to shock only flatline, and then absurdly claiming that defibrillators have no medical utility whatsoever when the patients refuse to rise from the dead. The intervention is too late. These trials for antivirals show systematic, egregious selection bias. They are providing a treatment that is futile to the specific cohort they are enrolling.

India went against the instructions of the WHO and mandated the prophylactic usage of Ivermectin. They have almost completely eradicated COVID-19. The Indian Bar Association of Mumbai has brought criminal charges against WHO Chief Scientist Dr. Soumya Swaminathan for recommending against the use of Ivermectin.

Ivermectin is not “horse dewormer”. Yes, it is sold in veterinary paste form as a dewormer for animals. It has also been available in pill form for humans for decades, as an antiparasitic drug.

The media have disingenuously claimed that because Ivermectin is an antiparasitic drug, it has no utility as an antivirus. This is incorrect. Ivermectin has utility as an antiviral. It blocks importin, preventing nuclear import, effectively inhibiting viral access to cell nuclei. Many drugs currently on the market have multiple modes of action. Ivermectin is one such drug. It is both antiparasitic and antiviral.

In Bangladesh, Ivermectin costs $1.80 for an entire 5-day course. Remdesivir, which is toxic to the liver, costs $3,120 for a 5-day course of the drug. Billions of dollars of utterly useless Remdesivir were sold to our governments on the taxpayer’s dime, and it ended up being totally useless for treating hyperinflammatory COVID-19. The media has hardly even covered this at all.

The opposition to the use of generic Ivermectin is not based in science. It is purely financially and politically-motivated. An effective non-vaccine intervention would jeopardize the rushed FDA approval of patented vaccines and medicines for which the pharmaceutical industry stands to rake in billions upon billions of dollars in sales on an ongoing basis.

The majority of the public are scientifically illiterate and cannot grasp what any of this even means, thanks to a pathetic educational system that has miseducated them. You would be lucky to find 1 in 100 people who have even the faintest clue what any of this actually means.

 

COVID-19 Transmission:

 

COVID-19 is airborne. The WHO carried water for China by claiming that the virus was only droplet- borne. Our own CDC absurdly claimed that it was mostly transmitted by fomite-to-face contact, which, given its rapid spread from Wuhan to the rest of the world, would have been physically impossible.

The ridiculous belief in fomite-to-face being a primary mode of transmission led to the use of surface disinfection protocols that wasted time, energy, productivity, and disinfectant.

The 6-foot guidelines are absolutely useless. The minimum safe distance to protect oneself from an aerosolized virus is to be 15+ feet away from an infected person, no closer. Realistically, no public transit is safe.

Surgical masks do not protect you from aerosols. The virus is too small and the filter media has too large of gaps to filter it out. They may catch respiratory droplets and keep the virus from being expelled by someone who is sick, but they do not filter a cloud of infectious aerosols if someone were to walk into said cloud.

The minimum level of protection against this virus is quite literally a P100 respirator, a PAPR/CAPR, or a 40mm NATO CBRN respirator, ideally paired with a full-body tyvek or tychem suit, gloves, and booties, with all the holes and gaps taped.

Live SARS-CoV-2 may potentially be detected in sewage outflows, and there may be oral-fecal transmission. During the SARS outbreak in 2003, in the Amoy Gardens incident, hundreds of people were infected by aerosolized fecal matter rising from floor drains in their apartments.

 

COVID-19 Vaccine Dangers:

 

The vaccines for COVID-19 are not sterilizing and do not prevent infection or transmission. They are “leaky” vaccines. This means they remove the evolutionary pressure on the virus to become less lethal. It also means that the vaccinated are perfect carriers. In other words, those who are vaccinated are a threat to the unvaccinated, not the other way around.

All of the COVID-19 vaccines currently in use have undergone minimal testing, with highly accelerated clinical trials. Though they appear to limit severe illness, the long-term safety profile of these vaccines remains unknown.

Some of these so-called “vaccines” utilize an untested new technology that has never been used in vaccines before. Traditional vaccines use weakened or killed virus to stimulate an immune response. The Moderna and Pfizer-BioNTech vaccines do not. They are purported to consist of an intramuscular shot containing a suspension of lipid nanoparticles filled with messenger RNA. The way they generate an immune response is by fusing with cells in a vaccine recipient’s shoulder, undergoing endocytosis, releasing their mRNA cargo into those cells, and then utilizing the ribosomes in those cells to synthesize modified SARS-CoV-2 Spike proteins in-situ.

These modified Spike proteins then migrate to the surface of the cell, where they are anchored in place by a transmembrane domain. The adaptive immune system detects the non-human viral protein being expressed by these cells, and then forms antibodies against that protein. This is purported to confer protection against the virus, by training the adaptive immune system to recognize and produce antibodies against the Spike on the actual virus. The J&J and AstraZeneca vaccines do something similar, but use an adenovirus vector for genetic material delivery instead of a lipid nanoparticle. These vaccines were produced or validated with the aid of fetal cell lines HEK-293 and PER.C6, which people with certain religious convictions may object strongly to.

SARS-CoV-2 Spike is a highly pathogenic protein on its own. It is impossible to overstate the danger presented by introducing this protein into the human body.

It is claimed by vaccine manufacturers that the vaccine remains in cells in the shoulder, and that SARS- CoV-2 Spike produced and expressed by these cells from the vaccine’s genetic material is harmless and inert, thanks to the insertion of prolines in the Spike sequence to stabilize it in the prefusion conformation, preventing the Spike from becoming active and fusing with other cells. However, a pharmacokinetic study from Japan showed that the lipid nanoparticles and mRNA from the Pfizer vaccine did not stay in the shoulder, and in fact bioaccumulated in many different organs, including the reproductive organs and adrenal glands, meaning that modified Spike is being expressed quite literally all over the place. These lipid nanoparticles may trigger anaphylaxis in an unlucky few, but far more concerning is the unregulated expression of Spike in various somatic cell lines far from the injection site and the unknown consequences of that.

 

Messenger RNA is normally consumed right after it is produced in the body, being translated into a protein by a ribosome. COVID-19 vaccine mRNA is produced outside the body, long before a ribosome translates it. In the meantime, it could accumulate damage if inadequately preserved. When a ribosome attempts to translate a damaged strand of mRNA, it can become stalled. When this happens, the ribosome becomes useless for translating proteins because it now has a piece of mRNA stuck in it, like a lace card in an old punch card reader. The whole thing has to be cleaned up and new ribosomes synthesized to replace it. In cells with low ribosome turnover, like nerve cells, this can lead to reduced protein synthesis, cytopathic effects, and neuropathies.

Certain proteins, including SARS-CoV-2 Spike, have proteolytic cleavage sites that are basically like little dotted lines that say “cut here”, which attract a living organism’s own proteases (essentially, molecular scissors) to cut them. There is a possibility that S1 may be proteolytically cleaved from S2, causing active S1 to float away into the bloodstream while leaving the S2 “stalk” embedded in the membrane of the cell that expressed the protein.

SARS-CoV-2 Spike has a Superantigenic region (SAg), which may promote extreme inflammation.

Anti-Spike antibodies were found in one study to function as autoantibodies and attack the body’s own cells. Those who have been immunized with COVID-19 vaccines have developed blood clots, myocarditis, Guillain-Barre Syndrome, Bell’s Palsy, and multiple sclerosis flares, indicating that the vaccine promotes autoimmune reactions against healthy tissue.

SARS-CoV-2 Spike does not only bind to ACE2. It was suspected to have regions that bind to basigin, integrins, neuropilin-1, and bacterial lipopolysaccharides as well. SARS-CoV-2 Spike, on its own, can potentially bind any of these things and act as a ligand for them, triggering unspecified and likely highly inflammatory cellular activity.

SARS-CoV-2 Spike contains an unusual PRRA insert that forms a furin cleavage site. Furin is a ubiquitous human protease, making this an ideal property for the Spike to have, giving it a high degree of cell tropism. No wild-type SARS-like coronaviruses related to SARS-CoV-2 possess this feature, making it highly suspicious, and perhaps a sign of human tampering.

SARS-CoV-2 Spike has a prion-like domain that enhances its infectiousness.

The Spike S1 RBD may bind to heparin-binding proteins and promote amyloid aggregation. In humans, this could lead to Parkinson’s, Lewy Body Dementia, premature Alzheimer’s, or various other neurodegenerative diseases. This is very concerning because SARS-CoV-2 S1 is capable of injuring and penetrating the blood-brain barrier and entering the brain. It is also capable of increasing the permeability of the blood-brain barrier to other molecules.

SARS-CoV-2, like other betacoronaviruses, may have Dengue-like ADE, or antibody-dependent enhancement of disease. For those who aren’t aware, some viruses, including betacoronaviruses, have a feature called ADE. There is also something called Original Antigenic Sin, which is the observation that the body prefers to produce antibodies based on previously-encountered strains of a virus over newly- encountered ones.

In ADE, antibodies from a previous infection become non-neutralizing due to mutations in the virus’s proteins. These non-neutralizing antibodies then act as trojan horses, allowing live, active virus to be pulled into macrophages through their Fc receptor pathways, allowing the virus to infect immune cells that it would not have been able to infect before. This has been known to happen with Dengue Fever; when someone gets sick with Dengue, recovers, and then contracts a different strain, they can get very, very ill.

If someone is vaccinated with mRNA based on the Spike from the initial Wuhan strain of SARS-CoV-2, and then they become infected with a future, mutated strain of the virus, they may become severely ill. In other words, it is possible for vaccines to sensitize someone to disease.

 

There is a precedent for this in recent history. Sanofi’s Dengvaxia vaccine for Dengue failed because it caused immune sensitization in people whose immune systems were Dengue-naive.

In mice immunized against SARS-CoV and challenged with the virus, a close relative of SARS-CoV-2, they developed immune sensitization, Th2 immunopathology, and eosinophil infiltration in their lungs.

We have been told that SARS-CoV-2 mRNA vaccines cannot be integrated into the human genome, because messenger RNA cannot be turned back into DNA. This is false. There are elements in human cells called LINE-1 retrotransposons, which can indeed integrate mRNA into a human genome by endogenous reverse transcription. Because the mRNA used in the vaccines is stabilized, it hangs around in cells longer, increasing the chances for this to happen. If the gene for SARS-CoV-2 Spike is integrated into a portion of the genome that is not silent and actually expresses a protein, it is possible that people who take this vaccine may continuously express SARS-CoV-2 Spike from their somatic cells for the rest of their lives.

By inoculating people with a vaccine that causes their bodies to produce Spike in-situ, they are being inoculated with a pathogenic protein. A toxin that may cause long-term inflammation, heart problems, and a raised risk of cancers. In the long-term, it may also potentially lead to premature neurodegenerative disease.

Absolutely nobody should be compelled to take this vaccine under any circumstances, and in actual fact, the vaccination campaign must be stopped immediately.

 

COVID-19 Criminal Conspiracy:

 

The vaccine and the virus were made by the same people.

In 2014, there was a moratorium on SARS gain-of-function research that lasted until 2017. This research was not halted. Instead, it was outsourced, with the federal grants being laundered through NGOs.

Ralph Baric is a virologist and SARS expert at UNC Chapel Hill in North Carolina. This is who Anthony Fauci was referring to when he insisted, before Congress, that if any gain-of-function research was being conducted, it was being conducted in North Carolina.

This was a lie. Anthony Fauci lied before Congress. A felony.

Ralph Baric and Shi Zhengli are colleagues and have co-written papers together. Ralph Baric mentored Shi Zhengli in his gain-of-function manipulation techniques, particularly serial passage, which results in a virus that appears as if it originated naturally. In other words, deniable bioweapons. Serial passage in humanized hACE2 mice may have produced something like SARS-CoV-2.

The funding for the gain-of-function research being conducted at the Wuhan Institute of Virology came from Peter Daszak. Peter Daszak runs an NGO called EcoHealth Alliance. EcoHealth Alliance received millions of dollars in grant money from the National Institutes of Health/National Institute of Allergy and Infectious Diseases (that is, Anthony Fauci), the Defense Threat Reduction Agency (part of the US Department of Defense), and the United States Agency for International Development. NIH/NIAID contributed a few million dollars, and DTRA and USAID each contributed tens of millions of dollars towards this research. Altogether, it was over a hundred million dollars.

EcoHealth Alliance subcontracted these grants to the Wuhan Institute of Virology, a lab in China with a very questionable safety record and poorly trained staff, so that they could conduct gain-of-function research, not in their fancy P4 lab, but in a level-2 lab where technicians wore nothing more sophisticated than perhaps a hairnet, latex gloves, and a surgical mask, instead of the bubble suits used when working with dangerous viruses. Chinese scientists in Wuhan reported being routinely bitten and urinated on by laboratory animals. Why anyone would outsource this dangerous and delicate work to the People’s Republic of China, a country infamous for industrial accidents and massive explosions that have claimed hundreds of lives, is completely beyond me, unless the aim was to start a pandemic on purpose.

In November of 2019, three technicians at the Wuhan Institute of Virology developed symptoms consistent with a flu-like illness. Anthony Fauci, Peter Daszak, and Ralph Baric knew at once what had happened, because back channels exist between this laboratory and our scientists and officials.

December 12th, 2019, Ralph Baric signed a Material Transfer Agreement (essentially, an NDA) to receive Coronavirus mRNA vaccine-related materials co-owned by Moderna and NIH. It wasn’t until a whole month later, on January 11th, 2020, that China allegedly sent us the sequence to what would become known as SARS-CoV-2. Moderna claims, rather absurdly, that they developed a working vaccine from this sequence in under 48 hours.

Stephane Bancel, the current CEO of Moderna, was formerly the CEO of bioMerieux, a French multinational corporation specializing in medical diagnostic tech, founded by one Alain Merieux. Alain Merieux was one of the individuals who was instrumental in the construction of the Wuhan Institute of Virology’s P4 lab.

The sequence given as the closest relative to SARS-CoV-2, RaTG13, is not a real virus. It is a forgery. It was made by entering a gene sequence by hand into a database, to create a cover story for the existence of SARS-CoV-2, which is very likely a gain-of-function chimera produced at the Wuhan Institute of Virology and was either leaked by accident or intentionally released.

The animal reservoir of SARS-CoV-2 has never been found.

 

This is not a conspiracy “theory”. It is an actual criminal conspiracy, in which people connected to the development of Moderna’s mRNA-1273 are directly connected to the Wuhan Institute of Virology and their gain-of-function research by very few degrees of separation, if any. The paper trail is well- established.

The lab-leak theory has been suppressed because pulling that thread leads one to inevitably conclude that there is enough circumstantial evidence to link Moderna, the NIH, the WIV, and both the vaccine and the virus’s creation together. In a sane country, this would have immediately led to the world’s biggest RICO and mass murder case. Anthony Fauci, Peter Daszak, Ralph Baric, Shi Zhengli, and Stephane Bancel, and their accomplices, would have been indicted and prosecuted to the fullest extent of the law. Instead, billions of our tax dollars were awarded to the perpetrators.

The FBI raided Allure Medical in Shelby Township north of Detroit for billing insurance for “fraudulent COVID-19 cures”. The treatment they were using? Intravenous Vitamin C. An antioxidant. Which, as described above, is an entirely valid treatment for COVID-19-induced sepsis, and indeed, is now part of the MATH+ protocol advanced by Dr. Paul E. Marik.

The FDA banned ranitidine (Zantac) due to supposed NDMA (N-nitrosodimethylamine) contamination. Ranitidine is not only an H2 blocker used as antacid, but also has a powerful antioxidant effect, scavenging hydroxyl radicals. This gives it utility in treating COVID-19.

The FDA also attempted to take N-acetylcysteine, a harmless amino acid supplement and antioxidant, off the shelves, compelling Amazon to remove it from their online storefront.

This leaves us with a chilling question: did the FDA knowingly suppress antioxidants useful for treating COVID-19 sepsis as part of a criminal conspiracy against the American public?

The establishment is cooperating with, and facilitating, the worst criminals in human history, and are actively suppressing non-vaccine treatments and therapies in order to compel us to inject these criminals’ products into our bodies. This is absolutely unacceptable.

 

COVID-19 Vaccine Development and Links to Transhumanism:

 

This section deals with some more speculative aspects of the pandemic and the medical and scientific establishment’s reaction to it, as well as the disturbing links between scientists involved in vaccine research and scientists whose work involved merging nanotechnology with living cells.

On June 9th, 2020, Charles Lieber, a Harvard nanotechnology researcher with decades of experience, was indicted by the DOJ for fraud. Charles Lieber received millions of dollars in grant money from the US Department of Defense, specifically the military think tanks DARPA, AFOSR, and ONR, as well as NIH and MITRE. His specialty is the use of silicon nanowires in lieu of patch clamp electrodes to monitor and modulate intracellular activity, something he has been working on at Harvard for the past twenty years. He was claimed to have been working on silicon nanowire batteries in China, but none of his colleagues can recall him ever having worked on battery technology in his life; all of his research deals with bionanotechnology, or the blending of nanotech with living cells.

The indictment was over his collaboration with the Wuhan University of Technology. He had double- dipped, against the terms of his DOD grants, and taken money from the PRC’s Thousand Talents plan, a program which the Chinese government uses to bribe Western scientists into sharing proprietary R&D information that can be exploited by the PLA for strategic advantage.

Charles Lieber’s own papers describe the use of silicon nanowires for brain-computer interfaces, or “neural lace” technology. His papers describe how neurons can endocytose whole silicon nanowires or parts of them, monitoring and even modulating neuronal activity.

Charles Lieber was a colleague of Robert Langer. Together, along with Daniel S. Kohane, they worked on a paper describing artificial tissue scaffolds that could be implanted in a human heart to monitor its activity remotely.

Robert Langer, an MIT alumnus and expert in nanotech drug delivery, is one of the co-founders of Moderna. His net worth is now $5.1 billion USD thanks to Moderna’s mRNA-1273 vaccine sales.

Both Charles Lieber and Robert Langer’s bibliographies describe, essentially, techniques for human enhancement, i.e. transhumanism. Klaus Schwab, the founder of the World Economic Forum and the architect behind the so-called “Great Reset”, has long spoken of the “blending of biology and machinery” in his books.

Since these revelations, it has come to the attention of independent researchers that the COVID-19 vaccines may contain reduced graphene oxide nanoparticles. Japanese researchers have also found unexplained contaminants in COVID-19 vaccines.

Graphene oxide is an anxiolytic. It has been shown to reduce the anxiety of laboratory mice when injected into their brains. Indeed, given SARS-CoV-2 Spike’s propensity to compromise the blood-brain barrier and increase its permeability, it is the perfect protein for preparing brain tissue for extravasation of nanoparticles from the bloodstream and into the brain. Graphene is also highly conductive and, in some circumstances, paramagnetic.

 

In 2013, under the Obama administration, DARPA launched the BRAIN Initiative; BRAIN is an acronym for Brain Research Through Advancing Innovative Neurotechnologies®. This program involves the development of brain-computer interface technologies for the military, particularly non-invasive, injectable systems that cause minimal damage to brain tissue when removed. Supposedly, this technology would be used for healing wounded soldiers with traumatic brain injuries, the direct brain control of prosthetic limbs, and even new abilities such as controlling drones with one’s mind.

Various methods have been proposed for achieving this, including optogenetics, magnetogenetics, ultrasound, implanted electrodes, and transcranial electromagnetic stimulation. In all instances, the goal is to obtain read or read-write capability over neurons, either by stimulating and probing them, or by rendering them especially sensitive to stimulation and probing.

However, the notion of the widespread use of BCI technology, such as Elon Musk’s Neuralink device, raises many concerns over privacy and personal autonomy. Reading from neurons is problematic enough on its own. Wireless brain-computer interfaces may interact with current or future wireless GSM infrastructure, creating neurological data security concerns. A hacker or other malicious actor may compromise such networks to obtain people’s brain data, and then exploit it for nefarious purposes.

However, a device capable of writing to human neurons, not just reading from them, presents another, even more serious set of ethical concerns. A BCI that is capable of altering the contents of one’s mind for innocuous purposes, such as projecting a heads-up display onto their brain’s visual center or sending audio into one’s auditory cortex, would also theoretically be capable of altering mood and personality, or perhaps even subjugating someone’s very will, rendering them utterly obedient to authority. This technology would be a tyrant’s wet dream. Imagine soldiers who would shoot their own countrymen without hesitation, or helpless serfs who are satisfied to live in literal dog kennels.

BCIs could be used to unscrupulously alter perceptions of basic things such as emotions and values, changing people’s thresholds of satiety, happiness, anger, disgust, and so forth. This is not inconsequential. Someone’s entire regime of behaviors could be altered by a BCI, including such things as suppressing their appetite or desire for virtually anything on Maslow’s Hierarchy of Needs.

Anything is possible when you have direct access to someone’s brain and its contents. Someone who is obese could be made to feel disgust at the sight of food. Someone who is involuntarily celibate could have their libido disabled so they don’t even desire sex to begin with. Someone who is racist could be forced to feel delight over cohabiting with people of other races. Someone who is violent could be forced to be meek and submissive. These things might sound good to you if you are a tyrant, but to normal people, the idea of personal autonomy being overridden to such a degree is appalling.

For the wealthy, neural laces would be an unequaled boon, giving them the opportunity to enhance their intelligence with neuroprosthetics (i.e. an “exocortex”), and to deliver irresistible commands directly into the minds of their BCI-augmented servants, even physically or sexually abusive commands that they would normally refuse.

If the vaccine is a method to surreptitiously introduce an injectable BCI into millions of people without their knowledge or consent, then what we are witnessing is the rise of a tyrannical regime unlike anything ever seen before on the face of this planet, one that fully intends to strip every man, woman, and child of our free will.

Our flaws are what make us human. A utopia arrived at by removing people’s free will is not a utopia at all. It is a monomaniacal nightmare. Furthermore, the people who rule over us are Dark Triad types who cannot be trusted with such power. Imagine being beaten and sexually assaulted by a wealthy and powerful psychopath and being forced to smile and laugh over it because your neural lace gives you no choice but to obey your master.

The Elites are forging ahead with this technology without giving people any room to question the social or ethical ramifications, or to establish regulatory frameworks that ensure that our personal agency and autonomy will not be overridden by these devices. They do this because they secretly dream of a future where they can treat you worse than an animal and you cannot even fight back. If this evil plan is allowed to continue, it will spell the end of humanity as we know it.

 

Conclusions:

 

The current pandemic was produced and perpetuated by the establishment, through the use of a virus engineered in a PLA-connected Chinese biowarfare laboratory, with the aid of American taxpayer dollars and French expertise.

This research was conducted under the absolutely ridiculous euphemism of “gain-of-function” research, which is supposedly carried out in order to determine which viruses have the highest potential for zoonotic spillover and preemptively vaccinate or guard against them.

Gain-of-function/gain-of-threat research, a.k.a. “Dual-Use Research of Concern”, or DURC, is bioweapon research by another, friendlier-sounding name, simply to avoid the taboo of calling it what it actually is. It has always been bioweapon research. The people who are conducting this research fully understand that they are taking wild pathogens that are not infectious in humans and making them more infectious, often taking grants from military think tanks encouraging them to do so.

These virologists conducting this type of research are enemies of their fellow man, like pyromaniac firefighters. GOF research has never protected anyone from any pandemic. In fact, it has now started one, meaning its utility for preventing pandemics is actually negative. It should have been banned globally, and the lunatics performing it should have been put in straitjackets long ago.

Either through a leak or an intentional release from the Wuhan Institute of Virology, a deadly SARS strain is now endemic across the globe, after the WHO and CDC and public officials first downplayed the risks, and then intentionally incited a panic and lockdowns that jeopardized people’s health and their livelihoods.

This was then used by the utterly depraved and psychopathic aristocratic class who rule over us as an excuse to coerce people into accepting an injected poison which may be a depopulation agent, a mind control/pacification agent in the form of injectable “smart dust”, or both in one. They believe they can get away with this by weaponizing the social stigma of vaccine refusal. They are incorrect.

Their motives are clear and obvious to anyone who has been paying attention. These megalomaniacs have raided the pension funds of the free world. Wall Street is insolvent and has had an ongoing liquidity crisis since the end of 2019. The aim now is to exert total, full-spectrum physical, mental, and financial control over humanity before we realize just how badly we’ve been extorted by these maniacs.

The pandemic and its response served multiple purposes for the Elite:

• Concealing a depression brought on by the usurious plunder of our economies conducted by rentier-capitalists and absentee owners who produce absolutely nothing of any value to society whatsoever. Instead of us having a very predictable Occupy Wall Street Part II, the Elites and their stooges got to stand up on television and paint themselves as wise and all-powerful saviors instead of the marauding cabal of despicable land pirates that they are.
• Destroying small businesses and eroding the middle class.
• Transferring trillions of dollars of wealth from the American public and into the pockets of billionaires and special interests.
• Engaging in insider trading, buying stock in biotech companies and shorting brick-and-mortar businesses and travel companies, with the aim of collapsing face-to-face commerce and tourism and replacing it with e-commerce and servitization.
• Creating a casus belli for war with China, encouraging us to attack them, wasting American lives and treasure and driving us to the brink of nuclear armageddon.
• Establishing technological and biosecurity frameworks for population control and technocratic- socialist “smart cities” where everyone’s movements are despotically tracked, all in anticipation of widespread automation, joblessness, and food shortages, by using the false guise of a vaccine to compel cooperation.

Any one of these things would constitute a vicious rape of Western society. Taken together, they beggar belief; they are a complete inversion of our most treasured values.

What is the purpose of all of this? One can only speculate as to the perpetrators’ motives, however, we have some theories.

The Elites are trying to pull up the ladder, erase upward mobility for large segments of the population, cull political opponents and other “undesirables”, and put the remainder of humanity on a tight leash, rationing our access to certain goods and services that they have deemed “high-impact”, such as automobile use, tourism, meat consumption, and so on. Naturally, they will continue to have their own luxuries, as part of a strict caste system akin to feudalism.

Why are they doing this? Simple. The Elites are Neo-Malthusians and believe that we are overpopulated and that resource depletion will collapse civilization in a matter of a few short decades. They are not necessarily incorrect in this belief. We are overpopulated, and we are consuming too many resources. However, orchestrating such a gruesome and murderous power grab in response to a looming crisis demonstrates that they have nothing but the utmost contempt for their fellow man.

To those who are participating in this disgusting farce without any understanding of what they are doing, we have one word for you. Stop. You are causing irreparable harm to your country and to your fellow citizens.

To those who may be reading this warning and have full knowledge and understanding of what they are doing and how it will unjustly harm millions of innocent people, we have a few more words.

Damn you to hell. You will not destroy America and the Free World, and you will not have your New World Order. We will make certain of that.

 

 

 

 

References:

 

COVID-19 is not a viral pneumonia — it is a viral vascular endotheliitis:

https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)30937-5/fulltext

https://academic.oup.com/eurheartj/article/41/32/3038/5901158

https://www.embopress.org/doi/full/10.15252/embr.202152744

COVID-19 is not just a respiratory disease — it can precipitate multiple organ failure, including hypoxic and inflammatory damage to various vital organs, such as the brain, heart, liver, pancreas, kidneys, and intestines:

https://www.nature.com/articles/d41586-021-01693-6

https://www.health.harvard.edu/blog/the-hidden-long-term-cognitive-effects-of-covid-2020100821133

https://www.nature.com/articles/s41422-020-0390-x

https://www.embopress.org/doi/full/10.15252/embj.2020106230

https://jamanetwork.com/journals/jama/fullarticle/2776538

https://pubmed.ncbi.nlm.nih.gov/32921216/

https://www.nature.com/articles/s41575-021-00426-4

https://pubmed.ncbi.nlm.nih.gov/32553666/

https://www.nature.com/articles/s41467-021-23886-3

https://pubmed.ncbi.nlm.nih.gov/34081912/

https://www.nature.com/articles/s41581-021-00452-0

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7438210/

https://www.nature.com/articles/s41598-021-92740-9

Some of the most common laboratory findings in COVID-19:

https://www.uptodate.com/contents/covid-19-clinical-features

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7426219/

COVID-19 can present as almost anything:

https://www.nature.com/articles/s41591-020-0968-3

https://www.frontiersin.org/articles/10.3389/fmed.2020.00526/full

COVID-19 is more severe in those with conditions that involve endothelial dysfunction, such as obesity, hypertension, and diabetes:

https://www.dovepress.com/obesity-related-inflammation-and-endothelial-dysfunction-in-covid-19-i- peer-reviewed-fulltext-article-JIR

https://jamanetwork.com/journals/jama/fullarticle/2772071

https://mdpi-res.com/d_attachment/cells/cells-10-00933/article_deploy/cells-10-00933.pdf

The vast majority of COVID-19 cases are mild and do not cause significant disease:

https://www.webmd.com/lung/covid-recovery-overview#1

https://academic.oup.com/ofid/article/7/9/ofaa286/5875595

https://pubmed.ncbi.nlm.nih.gov/33289900/

In those who have critical COVID-19-induced sepsis, hypoxia, coagulopathy, and ARDS, the most common treatments are intubation, injected corticosteroids, and blood thinners like heparin, which often precipitate harmful hemorrhages:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7548860/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7448713/

https://www.nejm.org/doi/full/10.1056/NEJMoa2103417

The majority of people who go on a ventilator are dying due to COVID-19 mimicking the physiology of ischemia-reperfusion injury with prolonged transient hypoxia and ischemia, leading directly to the formation of damaging reactive oxygen species:

https://www.journalofsurgicalresearch.com/article/S0022-4804(14)00176-0/fulltext

https://www.nature.com/articles/nature13909

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4625011/

https://www.atsjournals.org/doi/full/10.1164/rccm.201401-0168CP

https://pubmed.ncbi.nlm.nih.gov/18974366/

The end-stage of COVID-19 is severe lipid peroxidation, where fats in the body start to “rust” due to damage by oxidative stress:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7768996/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7357498/

https://www.liebertpub.com/doi/10.1089/ars.2021.0017

Oxidized lipids appear as foreign objects to the immune system, which recognizes and forms antibodies against OSEs, or oxidation-specific epitopes:

https://ard.bmj.com/content/annrheumdis/early/2020/08/04/annrheumdis-2020-218145.full.pdf

https://ard.bmj.com/content/80/9/1236

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7256550/

https://www.hss.edu/conditions_top-ten-series-antiphospholipid-syndrome-coronavirus-covid-19.asp

In COVID-19, neutrophil degranulation and NETosis in the bloodstream drives severe oxidative damage; hemoglobin becomes incapable of carrying oxygen due to heme iron being stripped out of heme by hypochlorous acid:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7757048/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7436665/

https://www.nature.com/articles/s41418-021-00805-z

https://www.sciencedirect.com/science/article/pii/S221249262030052X

SARS-CoV-2 Spike binds to ACE2. Angiotensin Converting Enzyme 2 is an enzyme that is part of the renin- angiotensin-aldosterone system, or RAAS. The RAAS is a hormone control system that moderates fluid volume and blood pressure in the body and in the bloodstream by controlling sodium/potassium retention and excretion and vascular tone:

https://www.ncbi.nlm.nih.gov/books/NBK470410/

https://www.merckmanuals.com/home/multimedia/figure/cvs_regulating_blood_pressure_renin

This protein, ACE2, is ubiquitous in every part of the body that interfaces with the circulatory system, particularly in vascular endothelial cells and pericytes, brain astrocytes, renal tubules and podocytes,

pancreatic islet cells, bile duct and intestinal epithelial cells, and the seminiferous ducts of the testis, all of which SARS-CoV-2 can infect:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7167720/

https://www.frontiersin.org/articles/10.3389/fmed.2020.594495/full

https://www.frontiersin.org/articles/10.3389/fneur.2020.573095/full

SARS-CoV-2 infects a cell as follows:

https://www.nature.com/articles/s41401-020-0485-4

https://www.science.org/doi/10.1126/science.abb2507

https://www.sciencedirect.com/science/article/abs/pii/S1931312820306211

SARS-CoV-2 Spike proteins embedded in a cell can actually cause adjacent human cells to fuse together, forming syncytia/MGCs:

https://www.nature.com/articles/s41418-021-00782-3

https://pubmed.ncbi.nlm.nih.gov/33051876/

SARS-CoV-2’s viroporins, such as its Envelope protein, act as calcium ion channels, introducing calcium into infected cells:

https://www.nature.com/articles/s41422-021-00519-4

https://virologyj.biomedcentral.com/articles/10.1186/s12985-019-1182-0

The virus suppresses the natural interferon response, resulting in delayed inflammation:

https://www.nature.com/articles/s12276-021-00592-0

https://mdpi-res.com/d_attachment/viruses/viruses-12-01433/article_deploy/viruses-12-01433.pdf

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8310780/

SARS-CoV-2 N protein can also directly activate the NLRP3 inflammasome:

https://www.nature.com/articles/s41467-021-25015-6

https://www.frontiersin.org/articles/10.3389/fimmu.2020.01021/full

SARS-CoV-2 suppresses the Nrf2 antioxidant pathway, reducing the body’s own endogenous antioxidant enzyme activity:

https://www.nature.com/articles/s41467-020-18764-3

https://ctajournal.biomedcentral.com/articles/10.1186/s13601-020-00362-7

https://mdpi-res.com/d_attachment/ijms/ijms-22-07963/article_deploy/ijms-22-07963.pdf

The suppression of ACE2 by binding with Spike causes a buildup of bradykinin that would otherwise be broken down by ACE2:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7834250/

https://www.the-scientist.com/news-opinion/is-a-bradykinin-storm-brewing-in-covid-19–67876

This constant calcium influx into the cells results in (or is accompanied by) noticeable hypocalcemia, or low blood calcium:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7292572/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8041474/

https://www.sciencedirect.com/science/article/abs/pii/S1871402121000059

Bradykinin upregulates cAMP, cGMP, COX, and Phospholipase C activity. This results in prostaglandin release and vastly increased intracellular calcium signaling, which promotes highly aggressive ROS release and ATP depletion:

https://www.sciencedirect.com/science/article/abs/pii/S089158490700319X?via%3Dihub

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1218972/

https://pubmed.ncbi.nlm.nih.gov/2156053/

https://www.sciencedirect.com/topics/medicine-and-dentistry/bradykinin-b2-receptor-agonist

https://www.sciencedirect.com/topics/neuroscience/bradykinin

NADPH oxidase releases superoxide into the extracellular space:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4556774/

https://www.pnas.org/content/110/21/8744

Superoxide radicals react with nitric oxide to form peroxynitrite:

https://pubmed.ncbi.nlm.nih.gov/8944624/

https://www.pnas.org/content/115/23/5839

Peroxynitrite reacts with the tetrahydrobiopterin cofactor needed by endothelial nitric oxide synthase, destroying it and “uncoupling” the eNOS enzymes, causing nitric oxide synthase to synthesize more superoxide instead (this means that every process that upregulates NOS activity now produces superoxide instead of nitric oxide):

https://pubmed.ncbi.nlm.nih.gov/24353182/

https://academic.oup.com/cardiovascres/article/73/1/8/316487

https://pubs.acs.org/doi/10.1021/bi9016632

This proceeds in a positive feedback loop until nitric oxide bioavailability in the circulatory system is depleted:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7276137/

Dissolved nitric oxide gas produced constantly by eNOS serves many important functions, but it is also antiviral against SARS-like coronaviruses, preventing the palmitoylation of the viral Spike protein and making it harder for it to bind to host receptors:

https://journal.chestnet.org/article/S0012-3692(20)34397-X/fulltext

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7111989/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7754882/

The loss of NO allows the virus to begin replicating with impunity in the body (clearly, the virus has an evolutionary incentive to induce oxidative stress to destroy nitric oxide):

https://scitechdaily.com/nitric-oxide-a-possible-treatment-for-covid-19-only-substance-to-have-a- direct-effect-on-sars-cov-2/

Those with endothelial dysfunction (i.e. hypertension, diabetes, obesity, old age, African-American race) have redox equilibrium issues to begin with, giving the virus an advantage:

https://www.nature.com/articles/s41392-020-00454-7

https://www.frontiersin.org/articles/10.3389/fphys.2020.605908/full

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7430889/

https://pubmed.ncbi.nlm.nih.gov/19004510/

Due to the extreme cytokine release triggered by these processes, the body summons a great deal of neutrophils and monocyte-derived alveolar macrophages to the lungs:

https://www.frontiersin.org/articles/10.3389/fimmu.2021.652470/full

https://www.frontiersin.org/articles/10.3389/fimmu.2021.720109/full

Phagocytic cells of the innate immune system are the first-line defenders against pathogens. They work by engulfing invaders and trying to attack them with enzymes that produce powerful oxidants, like SOD and MPO:

https://www.frontiersin.org/articles/10.3389/fimmu.2012.00174/full

https://jlb.onlinelibrary.wiley.com/doi/full/10.1189/jlb.0809549

Superoxide dismutase takes superoxide and makes hydrogen peroxide, and myeloperoxidase takes hydrogen peroxide and chlorine ions and makes hypochlorous acid, which is many, many times more reactive than sodium hypochlorite bleach:

https://www.sciencedirect.com/topics/neuroscience/superoxide-dismutase

https://www.sciencedirect.com/topics/medicine-and-dentistry/myeloperoxidase

In severe and critical COVID-19, there is actually rather severe NETosis:

https://www.frontiersin.org/articles/10.3389/fphar.2021.708302/full

https://insight.jci.org/articles/view/138999

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7184981/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7488868/

https://ashpublications.org/blood/article/136/10/1169/461219/Neutrophil-extracellular-traps- contribute-to

https://www.sciencedirect.com/science/article/pii/S221249262030052X

Hypochlorous acid building up in the bloodstream begins to bleach the iron out of heme and compete for O2 binding sites. Red blood cells lose the ability to transport oxygen, causing the sufferer to turn blue in the face:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7757048/

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0120737

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3863623/

Unliganded iron, hydrogen peroxide, and superoxide in the bloodstream undergo the Haber-Weiss and Fenton reactions, producing extremely reactive hydroxyl radicals that violently strip electrons from surrounding fats and DNA, oxidizing them severely:

https://www.sciencedirect.com/science/article/pii/S0753332221000135

https://sites.kowsarpub.com/ans/articles/60038.html

https://www.sciencedirect.com/science/article/abs/pii/S0300483X00002316?via%3Dihub

https://www.sciencedirect.com/topics/chemistry/fenton-reaction

https://www.researchgate.net/figure/Fenton-and-Haber-Weiss-reactions-are-a-source-of-oxidative- stress-The-generation-of_fig1_330729897

This condition is not unknown to medical science. The actual name for all of this is acute sepsis (but without the traditional hallmarks of sepsis, like shock):

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4056356/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7886971/

https://www.futuremedicine.com/doi/10.2217/fmb-2020-0312

https://www.global-sepsis-alliance.org/news/2020/4/7/update-can-covid-19-cause-sepsis-explaining- the-relationship-between-the-coronavirus-disease-and-sepsis-cvd-novel-coronavirus

We know this is happening in COVID-19 because people who have died of the disease have noticeable ferroptosis signatures in their tissues, as well as various other oxidative stress markers such as nitrotyrosine, 4-HNE, and malondialdehyde:

https://onlinelibrary.wiley.com/doi/full/10.1002/ehf2.12958

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7264936/

https://www.sciencedirect.com/science/article/pii/S2213231721001300

https://www.researchgate.net/publication/354129433_Preliminary_Findings_on_the_Association_of_the_Lipid_Peroxidation_Product_4-Hydroxynonenal_with_the_Lethal_Outcome_of_Aggressive_COVID- 19

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8180845/

https://rupress.org/jem/article-abstract/218/6/e20210518/212093/Ferroptosis-in-infection- inflammation-and?redirectedFrom=fulltext

When you intubate someone with this condition, you are setting off a free radical bomb by supplying the cells with O2. It’s a catch-22, because we need oxygen to make Adenosine Triphosphate (that is, to live), but O2 is also the precursor of all these damaging radicals that lead to lipid peroxidation:

https://www.nature.com/articles/pr2009174

The correct treatment for severe COVID-19 related sepsis is non-invasive ventilation, steroids, and antioxidant infusions:

MATH+ Protocol

https://journals.lww.com/ccmjournal/Abstract/2007/09001/Antioxidant_supplementation_in_sepsis_and_systemic.25.aspx

https://mdpi-res.com/d_attachment/medicina/medicina-56-00619/article_deploy/medicina-56-00619- v2.pdf

Most of the drugs repurposed for COVID-19 that show any benefit whatsoever in rescuing critically-ill COVID-19 patients are antioxidants. N-acetylcysteine, melatonin, fluvoxamine, budesonide, famotidine, cimetidine, and ranitidine are all antioxidants:

https://www.hindawi.com/journals/omcl/2018/6581970/

https://www.intechopen.com/chapters/62672

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6708076/

https://www.karger.com/Article/Abstract/88623

https://www.sciencedirect.com/science/article/abs/pii/000629529390218L?via%3Dihub

Indomethacin prevents iron-driven oxidation of arachidonic acid to isoprostanes:

https://www.sciencedirect.com/science/article/abs/pii/0161463079900442

There are powerful antioxidants such as apocynin that have not even been tested on COVID-19 patients yet which could defang neutrophils, prevent lipid peroxidation, restore endothelial health, and restore oxygenation to the tissues:

https://link.springer.com/article/10.1007/s10787-020-00715-5

Scientists who know anything about pulmonary neutrophilia, ARDS, and redox biology have known or surmised much of this since March 2020:

https://www.researchgate.net/post/NADPH_oxidase_Covid-19_Oxygen_treatment

In April 2020, Swiss scientists confirmed that COVID-19 was a systemic vascular endotheliitis:

https://www.usz.ch/en/covid-19-also-a-systemic-endotheliitis/

By late 2020, experts had already concluded that COVID-19 causes a form of viral sepsis:

https://www.healthleadersmedia.com/clinical-care/expert-severe-covid-19-illness-viral-sepsis

They also know that sepsis can be effectively treated with antioxidants:

https://jtd.amegroups.com/article/view/34870/html

https://www.evms.edu/about_evms/administrative_offices/marketing_communications/publications/issue_9_4/has-sepsis-met-its-match.php

None of this information is particularly new, and yet, for the most part, it has not been acted upon. Doctors continue to use damaging intubation techniques with high PEEP settings despite high lung compliance and poor oxygenation, killing an untold number of critically ill patients with medical malpractice:

https://ccforum.biomedcentral.com/articles/10.1186/s13054-020-03049-4

https://jamanetwork.com/journals/jama/fullarticle/2765302

Because of the way they are constructed, Randomized Control Trials will never show any benefit for any antiviral against COVID-19. Not Remdesivir, not Kaletra, not HCQ, and not Ivermectin. The reason for this is simple; for the patients that they have enrolled in these studies, such as Oxford’s ludicrous RECOVERY study, the intervention is too late to have any positive effect (i.e. these RCTs are designed in such a way that the use of antivirals is futile, therefore, these studies are deceptive and unethical by their very nature):

https://www.mdpi.com/1999-4915/13/6/963/htm

The clinical course of COVID-19 is such that by the time most people seek medical attention for hypoxia, their viral load has already tapered off to almost nothing. If someone is about 10 days post-exposure and has already been symptomatic for five days, there is hardly any virus left in their bodies, only cellular damage and derangement that has initiated a hyperinflammatory response:

https://www.the-hospitalist.org/hospitalist/article/234869/coronavirus-updates/state-inpatient-covid- 19-care

https://www.sciencedirect.com/science/article/pii/S0753332220306867

It is from this group that the clinical trials for antivirals have recruited, pretty much exclusively (i.e. they do not test prophylaxis/early treatment, only changes to the mean duration of hospitalization for those already hospitalized):

https://www.nejm.org/doi/full/10.1056/nejmoa2023184

https://www.nejm.org/doi/full/10.1056/NEJMoa2022926

https://pubmed.ncbi.nlm.nih.gov/34318930/

India went against the instructions of the WHO and mandated the prophylactic usage of Ivermectin. They have almost completely eradicated COVID-19:

Ivermectin Wins in India

https://ivmmeta.com

The Indian Bar Association of Mumbai has brought criminal charges against WHO Chief Scientist Dr. Soumya Swaminathan for recommending against the use of Ivermectin:

https://indianbarassociation.in/wp-content/uploads/2021/05/IBA-PRESS-RELEASE-MAY-26-2021.pdf

Ivermectin is not “horse dewormer”. Yes, it is sold in veterinary paste form as a dewormer for animals. It has also been available in pill form for humans for decades, as an antiparasitic drug:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3043740/

The media have disingenuously claimed that because Ivermectin is an antiparasitic drug, it has no utility as an antivirus. This is incorrect. Ivermectin has utility as an antiviral. It blocks importin, preventing nuclear import, effectively inhibiting viral access to cell nuclei. Many drugs currently on the market have multiple modes of action. Ivermectin is one such drug. It is both antiparasitic and antiviral:

https://www.sciencedirect.com/science/article/abs/pii/S0166354219307211?via%3Dihub

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7539925/

In Bangladesh, Ivermectin costs $1.80 for an entire 5-day course:

https://journals.lww.com/americantherapeutics/fulltext/2021/08000/ivermectin_for_prevention_and_treatment_of.7.aspx

Remdesivir, which is toxic to the liver, costs $3,120 for a 5-day course of the drug:

https://www.npr.org/sections/health-shots/2020/06/29/884648842/remdesivir-priced-at-more-than-3- 100-for-a-course-of-treatment

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7386240/

Billions of dollars of utterly useless Remdesivir were sold to our governments on the taxpayer’s dime, and it ended up being totally useless for treating hyperinflammatory COVID-19:

https://www.fiercepharma.com/pharma/gilead-s-1-5b-remdesivir-sales-help-buoy-greater-than- expected-declines-for-mainstay-hiv

https://www.forbes.com/sites/jvchamary/2021/01/31/remdesivir-covid- coronavirus/?sh=7e6034e666c2

COVID-19 is airborne. The WHO carried water for China by claiming that the virus was only droplet- borne. Our own CDC absurdly claimed that it was mostly transmitted by fomite-to-face contact, which, given its rapid spread from Wuhan to the rest of the world, would have been physically impossible:

https://www.thelancet.com/article/S0140-6736(21)00869-2/fulltext

https://www.pennmedicine.org/updates/blogs/penn-physician-blog/2020/august/airborne-droplet- debate-article

The ridiculous belief in fomite-to-face being a primary mode of transmission led to the use of surface disinfection protocols that wasted time, energy, productivity, and disinfectant:

https://www.nature.com/articles/d41586-021-00251-4

The 6-foot guidelines are absolutely useless. The minimum safe distance to protect oneself from an aerosolized virus is to be 15+ feet away from an infected person, no closer. Realistically, no public transit is safe:

https://www.medrxiv.org/content/10.1101/2020.08.03.20167395v1

What We Know About the Airborne Spread of the Coronavirus

Surgical masks do not protect you from aerosols. The virus is too small and the filter media has too large of gaps to filter it out. They may catch respiratory droplets and keep the virus from being expelled by someone who is sick, but they do not filter a cloud of infectious aerosols if someone were to walk into said cloud:

https://ajicjournal.org/retrieve/pii/S0196655305801439

The minimum level of protection against this virus is quite literally a P100 respirator, a PAPR/CAPR, or a 40mm NATO CBRN respirator, ideally paired with a full-body tyvek or tychem suit, gloves, and booties, with all the holes and gaps taped (in a pinch, surgical masks can be modified or worn a specific way to increase filtration):

https://www.epa.gov/sciencematters/epa-researchers-test-effectiveness-face-masks-disinfection- methods-against-covid-19

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7409952/

Coronavirus Protection Made Easy with the MaxAir CAPR®

Live SARS-CoV-2 may potentially be detected in sewage outflows, and there may be oral-fecal transmission:

https://www.sciencedirect.com/science/article/pii/S0048969720325936

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0249568

https://www.nature.com/articles/s41587-020-0684-z

During the SARS outbreak in 2003, in the Amoy Gardens incident, hundreds of people were infected by aerosolized fecal matter rising from floor drains in their apartments (there is some valid concern that COVID-19 may also spread the same way, given its similarities to SARS):

https://pubmed.ncbi.nlm.nih.gov/16696450/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC539564/

https://www.neha.org/sites/default/files/jeh/JEH5.06-Feature-Environmental-Transmission-of-SARS.pdf

https://www.cleanlink.com/news/article/COVID-19-Could-Spread-Through-Dry-Floor-Drains–25600

The vaccines for COVID-19 are not sterilizing and do not prevent infection or transmission. They are “leaky” vaccines. This means they remove the evolutionary pressure on the virus to become less lethal. It also means that the vaccinated are perfect carriers. In other words, those who are vaccinated are a threat to the unvaccinated, not the other way around:

https://www.healthline.com/health-news/leaky-vaccines-can-produce-stronger-versions-of-viruses- 072715

https://www.realclearscience.com/articles/2021/08/23/lets_stop_pretending_about_the_covid- 19_vaccines_791050.html

https://www.cdc.gov/media/releases/2021/s0730-mmwr-covid-19.html

https://www.businessinsider.com/cdc-fully-vaccinated-new-guidelines-wear-masks-indoors-delta-2021- 7?utm_source=yahoo.com&utm_medium=referral

All of the COVID-19 vaccines currently in use have undergone minimal testing, with highly accelerated clinical trials. Though they appear to limit severe illness, the long-term safety profile of these vaccines remains unknown:

https://www.jdsupra.com/legalnews/accelerated-covid-19-vaccine-clinical-95853/

https://www.nebraskamed.com/COVID/were-the-covid-19-vaccines-rushed

Some of these so-called “vaccines” utilize an untested new technology that has never been used in vaccines before. Traditional vaccines use weakened or killed virus to stimulate an immune response. The Moderna and Pfizer-BioNTech vaccines do not. They are purported to consist of an intramuscular shot containing a suspension of lipid nanoparticles filled with messenger RNA:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5439223/

https://cen.acs.org/pharmaceuticals/drug-delivery/Without-lipid-shells-mRNA-vaccines/99/i8

https://www.cdc.gov/coronavirus/2019-ncov/vaccines/different-vaccines/mrna.html

https://medlineplus.gov/genetics/understanding/therapy/mrnavaccines/

The way they generate an immune response is by fusing with cells in a vaccine recipient’s shoulder, undergoing endocytosis, releasing their mRNA cargo into those cells, and then utilizing the ribosomes in those cells to synthesize modified SARS-CoV-2 Spike proteins in-situ:

https://www.nature.com/articles/s41586-020-2622-0

https://coronavirus.dc.gov/sites/default/files/dc/sites/coronavirus/page_content/attachments/Cartoon%20Explainer%20How%20the%20Moderna%20and%20Pfizer%20Vaccines%20Work.pdf

These vaccines were produced or validated with the aid of fetal cell lines HEK-293 and PER.C6, which people with certain religious convictions may object strongly to:

https://www.health.nd.gov/sites/www/files/documents/COVID%20Vaccine%20Page/COVID- 19_Vaccine_Fetal_Cell_Handout.pdf

The Ethics of the SARS-CoV-2 Vaccines Revisited

SARS-CoV-2 Spike is a highly pathogenic protein on its own. It is impossible to overstate the danger presented by introducing this protein into the human body:

https://mcusercontent.com/22e41db63deaf4a84be439c0f/files/6a33980b-683f-4ee4-67d4- cc98dc7fcd37/20210601_Guide_to_COVID_19_vaccines_for_parents.pdf

https://rightsfreedoms.wordpress.com/2021/06/16/researcher-we-made-a-big-mistake-on-covid-19- vaccine/

It is claimed by vaccine manufacturers that the vaccine remains in cells in the shoulder, and that SARS- CoV-2 Spike produced and expressed by these cells from the vaccine’s genetic material is harmless and inert, thanks to the insertion of prolines in the Spike sequence to stabilize it in the prefusion conformation, preventing the Spike from becoming active and fusing with other cells:

https://www.nature.com/articles/s41467-020-20321-x

https://cen.acs.org/pharmaceuticals/vaccines/tiny-tweak-behind-COVID-19/98/i38

However, a pharmacokinetic study from Japan showed that the lipid nanoparticles and mRNA from the Pfizer vaccine did not stay in the shoulder, and in fact bioaccumulated in many different organs, including the reproductive organs and adrenal glands, meaning that modified Spike is being expressed quite literally all over the place:

https://files.catbox.moe/0vwcmj.pdf

These lipid nanoparticles may trigger anaphylaxis in an unlucky few:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8441754/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7862013/

Messenger RNA is normally consumed right after it is produced in the body, being translated into a protein by a ribosome. COVID-19 vaccine mRNA is produced outside the body, long before a ribosome translates it. In the meantime, it could accumulate damage if inadequately preserved. When a ribosome attempts to translate a damaged strand of mRNA, it can become stalled:

https://elifesciences.org/articles/61984

https://www.frontiersin.org/articles/10.3389/fgene.2018.00431/full

Certain proteins, including SARS-CoV-2 Spike, have proteolytic cleavage sites that are basically like little dotted lines that say “cut here”, which attract a living organism’s own proteases (essentially, molecular scissors) to cut them. There is a possibility that S1 may be proteolytically cleaved from S2, causing active S1 to float away into the bloodstream while leaving the S2 “stalk” embedded in the membrane of the cell that expressed the protein:

https://academic.oup.com/cid/advance-article/doi/10.1093/cid/ciab465/6279075

https://www.nature.com/articles/s41564-021-00908-w

https://www.life-science-alliance.org/content/3/9/e202000786

SARS-CoV-2 Spike has a Superantigenic region (SAg), which may promote extreme inflammation:

https://www.pnas.org/content/117/41/25254

https://www.nature.com/articles/s41577-021-00502-5

Anti-Spike antibodies were found in one study to function as autoantibodies and attack the body’s own cells:

https://www.researchsquare.com/article/rs-612103/v2

Those who have been immunized with COVID-19 vaccines have developed blood clots, myocarditis, Guillain-Barre Syndrome, Bell’s Palsy, and multiple sclerosis flares, indicating that the vaccine promotes autoimmune reactions against healthy tissue:

Summary: Covid-19 Vaccine Concerns

https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-july-13-2021

https://www.medpagetoday.com/infectiousdisease/covid19vaccine/94061?xid=nl_mpt_DHE_2021-08- 17

SARS-CoV-2 Spike does not only bind to ACE2. It was suspected to have regions that bind to basigin, integrins, neuropilin-1, and bacterial lipopolysaccharides as well:

https://www.nature.com/articles/s41564-021-00958-0

https://www.mdpi.com/1422-0067/22/3/992/pdf

https://pubs.acs.org/doi/10.1021/acschemneuro.0c00619

https://www.science.org/doi/full/10.1126/science.abd3072

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0253347

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7799037/

SARS-CoV-2 Spike, on its own, can potentially bind any of these things and act as a ligand for them, triggering unspecified and likely highly inflammatory cellular activity:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7827936/

SARS-CoV-2 Spike contains an unusual PRRA insert that forms a furin cleavage site. Furin is a ubiquitous human protease, making this an ideal property for the Spike to have, giving it a high degree of cell tropism. No wild-type SARS-like coronaviruses related to SARS-CoV-2 possess this feature, making it highly suspicious, and perhaps a sign of human tampering:

https://journals.asm.org/doi/full/10.1128/JVI.01751-20

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7457603/

https://yurideigin.medium.com/lab-made-cov2-genealogy-through-the-lens-of-gain-of-function- research-f96dd7413748

SARS-CoV-2 Spike has a prion-like domain that enhances its infectiousness:

https://www.preprints.org/manuscript/202003.0422/v1

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0023664

The Spike S1 RBD may bind to heparin-binding proteins and promote amyloid aggregation. In humans, this could lead to Parkinson’s, Lewy Body Dementia, premature Alzheimer’s, or various other neurodegenerative diseases:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7988450/

This is very concerning because SARS-CoV-2 S1 is capable of penetrating the blood-brain barrier and entering the brain. It is capable of increasing the permeability of the blood-brain barrier to itself and other molecules by injuring and disrupting it directly:

https://www.nature.com/articles/s41593-020-00771-8

https://www.nature.com/articles/s41392-021-00719-9

https://pubmed.ncbi.nlm.nih.gov/33053430/

SARS-CoV-2, like other betacoronaviruses, may have Dengue-like ADE, or antibody-dependent enhancement of disease:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7943455/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7454712/

https://www.journalofinfection.com/article/S0163-4453(21)00392-3/fulltext

https://sharylattkisson.com/2021/08/study-why-so-many-vaccinated-people-are-getting-sick/

https://www.nature.com/articles/s41564-020-00789-5

https://www.sciencedirect.com/science/article/pii/S1201971220307311

https://pubmed.ncbi.nlm.nih.gov/31826992/

https://www.biorxiv.org/content/10.1101/2021.08.22.457114v1

There is something called Original Antigenic Sin, which is the observation that the body prefers to produce antibodies based on previously-encountered strains of a virus over newly-encountered ones:

https://www.jimmunol.org/content/202/2/335

https://en.wikipedia.org/wiki/Original_antigenic_sin

In ADE, antibodies from a previous infection become non-neutralizing due to mutations in the virus’s proteins. These non-neutralizing antibodies then act as trojan horses, allowing live, active virus to be pulled into macrophages through their Fc receptor pathways:

https://en.wikipedia.org/wiki/Antibody-dependent_enhancement

https://www.cdc.gov/dengue/training/cme/ccm/page57857.html

It is possible for vaccines to sensitize someone to disease. There is a precedent for this in recent history. Sanofi’s Dengvaxia vaccine for Dengue failed because it caused immune sensitization in people whose immune systems were Dengue-naive:

https://www.frontiersin.org/articles/10.3389/fcimb.2020.572681/full

https://news.unchealthcare.org/2021/06/scientists-discover-how-dengue-vaccine-fails-to-protect- against-disease/

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3739535/

https://www.scientificamerican.com/article/how-the-worlds-first-dengue-vaccination-drive-ended-in- disaster/

In mice immunized against SARS-CoV and challenged with the virus, a close relative of SARS-CoV-2, they developed immune sensitization, Th2 immunopathology, and eosinophil infiltration in their lungs:

https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0035421

We have been told that SARS-CoV-2 mRNA vaccines cannot be integrated into the human genome, because messenger RNA cannot be turned back into DNA. This is false. There are elements in human cells called LINE-1 retrotransposons, which can indeed integrate mRNA into a human genome by endogenous reverse transcription:

https://pubmed.ncbi.nlm.nih.gov/33330870/

https://rightsfreedoms.wordpress.com/2021/08/13/mit-harvard-study-suggests-mrna-vaccine-might- permanently-alter-dna-after-all/

The Injection Fraud – It’s Not a Vaccine

The vaccine and the virus were made by the same people. In 2014, there was a moratorium on SARS gain-of-function research that lasted until 2017:

https://www.phe.gov/s3/dualuse/documents/gain-of-function.pdf

https://www.scientificamerican.com/article/u-s-lifts-moratorium-on-funding-controversial-high-risk- virus-research/

https://www.nih.gov/about-nih/who-we-are/nih-director/statements/nih-lifts-funding-pause-gain- function-research

Ralph Baric is a virologist and SARS expert at UNC Chapel Hill in North Carolina. This is who Anthony Fauci was referring to when he insisted, before Congress, that if any gain-of-function research was being conducted, it was being conducted in North Carolina:

Ralph S. Baric, PhD

Ralph Baric: On the Front Lines of Coronavirus for Three Decades

Ralph Baric and Shi Zhengli are colleagues and have co-written papers together:

https://www.nature.com/articles/nm.3985/

Ralph Baric mentored Shi Zhengli in his gain-of-function manipulation techniques, particularly serial passage, which results in a virus that appears as if it originated naturally. In other words, deniable bioweapons. Serial passage in humanized hACE2 mice may have produced something like SARS-CoV-2:

https://www.technologyreview.com/2021/06/29/1027290/gain-of-function-risky-bat-virus-engineering- links-america-to-wuhan/

Items from coronavirus expert Ralph Baric‘s emails 

https://www.paul.senate.gov/newsweek-op-ed-congress-must-pursue-answers-about-origin-covid-19

https://nymag.com/intelligencer/article/coronavirus-lab-escape-theory.html

The funding for the gain-of-function research being conducted at the Wuhan Institute of Virology came from Peter Daszak. Peter Daszak runs an NGO called EcoHealth Alliance:

https://peterdaszak.com/

https://peterdaszak.com/interceptdocs.pdf

https://theintercept.com/2021/09/09/covid-origins-gain-of-function-research/

https://nationalfile.com/bombshell-fauci-kept-funding-peter-daszaks-wuhan-gain-of-function- experiments-with-7-5-million-after-trump-canceled-grant/

EcoHealth Alliance received millions of dollars in grant money from the National Institutes of Health/National Institute of Allergy and Infectious Diseases (that is, Anthony Fauci), the Defense Threat Reduction Agency (part of the US Department of Defense), and the United States Agency for International Development. NIH/NIAID contributed a few million dollars, and DTRA and USAID each contributed tens of millions of dollars towards this research. Altogether, it was over a hundred million dollars:

https://www.independentsciencenews.org/wp-content/uploads/2020/12/EcoHealth-Funding-as-of- 01_10_2020-Fed.-Grants-Contracts.pdf

EcoHealth Alliance subcontracted these grants to the Wuhan Institute of Virology, a lab in China with a very questionable safety record and poorly-trained staff, so that they could conduct gain-of-function research:

https://www.algora.com/Algora_blog/2021/09/22/ecohealth-alliance-darpa-toyed-with-infecting-wild- chinese-bats-with-covid-leaked-docs-allege

https://nypost.com/2021/07/01/pentagon-gave-millions-to-ecohealth-alliance-for-wuhan-lab/

Judicial Watch: New Documents Show Wuhan Lab Asked NIH Official for Information on Disinfectants; Nine Fauci Agency Grants for EcoHealth Bat Coronavirus Research

JW v NIH Wuhan June 2021 00696

https://scholar.harvard.edu/files/kleelerner/files/20200414_wapo_- _state_department_cables_warned_of_safety_issues_at_wuhan_lab_studying_bat_coronaviruses_- _the_washington_post.pdf

https://www.businessinsider.com/us-officials-raised-alarms-about-safety-issues-in-wuhan-lab-report- 2020-4?op=1

Chinese scientists in Wuhan reported being routinely bitten and urinated on by laboratory animals:

https://img-prod.tgcom24.mediaset.it/images/2020/02/16/114720192-5eb8307f-017c-4075-a697- 348628da0204.pdf

https://web.archive.org/web/20200214144447/https:/www.researchgate.net/publication/339070128_ The_possible_origins_of_2019-nCoV_coronavirus

In November of 2019, three technicians at the Wuhan Institute of Virology developed symptoms consistent with a flu-like illness:

https://www.webmd.com/lung/news/20210524/wuhan-lab-researchers-illness

https://thehill.com/policy/healthcare/556815-fauci-calls-on-china-to-release-medical-records-of- wuhan-researchers

December 12th, 2019, Ralph Baric signed a Material Transfer Agreement (essentially, an NDA) to receive Coronavirus mRNA vaccine-related materials co-owned by Moderna and NIH:

https://rightsfreedoms.wordpress.com/2021/06/26/confidential-documents-reveal-moderna-sent- mrna-coronavirus-vaccine-candidate-to-university-researchers-weeks-before-emergence-of-covid-19/

https://s3.documentcloud.org/documents/6935295/NIH-Moderna-Confidential-Agreements.pdf

It wasn’t until a whole month later, on January 11th, 2020, that China allegedly sent us the sequence to what would become known as SARS-CoV-2:

https://www.cidrap.umn.edu/news-perspective/2020/01/china-releases-genetic-data-new-coronavirus- now-deadly

https://www.sciencedaily.com/releases/2020/01/200131114748.htm

Moderna claims, rather absurdly, that they developed a working vaccine from this sequence in under 48 hours:

https://www.businessinsider.com/moderna-designed-coronavirus-vaccine-in-2-days-2020-11

Moderna designed its coronavirus vaccine in 2 days — here’s how

https://nymag.com/intelligencer/2020/12/moderna-covid-19-vaccine-design.html

Stephane Bancel, the current CEO of Moderna, was formerly the CEO of bioMerieux, a French multinational corporation specializing in medical diagnostic tech, founded by one Alain Merieux:

https://www.biomerieux.com/en/board-directors-biomerieux-chaired-alain-merieux-has-appointed- stephane-bancel-directeur-general

https://en.wikipedia.org/wiki/St%C3%A9phane_Bancel

https://www.himss.org/global-conference/speaker-stephane-bancel

Alain Merieux was one of the individuals who was instrumental in the construction of the Wuhan Institute of Virology’s P4 lab:

https://www.fondation-merieux.org/en/news/alain-merieux-receives-the-prestigious-chinese-reform- friendship-award/

https://medicalxpress.com/news/2020-04-wuhan-lab-core-virus-controversy.html

http://english.whiov.cas.cn/ne/201712/t20171212_187624.html

https://web.archive.org/web/20210921133410/http://english.whiov.cas.cn/ne/201712/t20171212_187624.html

The sequence given as the closest relative to SARS-CoV-2, RaTG13, is not a real virus. It is a forgery:

https://nerdhaspower.weebly.com/ratg13-is-fake.html

RaTG13 – the Undeniable Evidence That the Wuhan Coronavirus Is Man-Made

https://www.peakprosperity.com/forum-topic/scientific-history-of-ratg13/

The animal reservoir of SARS-CoV-2 has never been found:

https://www.technologyreview.com/2021/03/26/1021263/bat-covid-coronavirus-cause-origin-wuhan/

https://www.who.int/news-room/feature-stories/detail/how-who-is-working-to-track-down-the- animal-reservoir-of-the-sars-cov-2-virus

The FBI raided Allure Medical in Shelby Township north of Detroit for billing insurance for “fraudulent COVID-19 cures”. The treatment they were using? Intravenous Vitamin C. An antioxidant. Which, as described above, is an entirely valid treatment for COVID-19-induced sepsis, and indeed, is now part of the MATH+ protocol advanced by Dr. Paul E. Marik:

https://www.freep.com/story/news/local/michigan/macomb/2020/04/28/allure-medical-spa-shelby- covid-vitamin-c/3038801001/

https://www.detroitnews.com/story/news/local/macomb-county/2020/05/15/doctor-got-loan-while- peddling-phony-covid-19-cure-feds-say/5197315002/

MATH+ Protocol

https://covid19criticalcare.com/wp-content/uploads/2021/01/FLCCC-Alliance-MATHplus-Protocol- ENGLISH.pdf

https://pubmed.ncbi.nlm.nih.gov/31978969/

https://www.sciencedirect.com/science/article/abs/pii/S0883944119316107?via%3Dihub

https://www.npr.org/sections/health-shots/2019/10/01/766029397/mixed-results-for-a-test-of- vitamin-c-for-sepsis

https://www.nutraingredients.com/Article/2020/01/28/Ethically-and-morally-unacceptable-Reaction- to-vitamin-C-for-sepsis-trial

The FDA banned ranitidine (Zantac) due to supposed NDMA (N-nitrosodimethylamine) contamination:

https://www.fda.gov/drugs/drug-safety-and-availability/fda-updates-and-press-announcements-ndma- zantac-ranitidine

https://www.raps.org/news-and-articles/news-articles/2021/6/fda-studies-no-post-ingestion-ndma- from-ranitidine

Ranitidine is not only an H2 blocker used as antacid, but also has a powerful antioxidant effect, scavenging hydroxyl radicals. This gives it utility in treating COVID-19:

https://onlinelibrary.wiley.com/doi/10.1111/j.1472-8206.2009.00810.x

https://www.sciencedirect.com/science/article/pii/S1347861319342203

The FDA also attempted to take N-acetylcysteine, a harmless amino acid supplement and antioxidant, off the shelves, compelling Amazon to remove it from their online storefront:

https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning- letters/les-labs-593764-07232020

https://www.naturalproductsinsider.com/regulatory/us-senator-npa-press-fda-nac-supplements

https://www.nutraingredients-usa.com/Article/2021/05/11/CRN-This-is-not-the-final-word-on-NAC

https://www.naturalproductsinsider.com/regulatory/amazon-confirms-plans-removing-nac- supplements

On June 9th, 2020, Charles Lieber, a Harvard nanotechnology researcher with decades of experience, was indicted by the DOJ for fraud:

https://www.justice.gov/opa/pr/harvard-university-professor-and-two-chinese-nationals-charged- three-separate-china-related

Charles Lieber received millions of dollars in grant money from the US Department of Defense, specifically the military think tanks DARPA, AFOSR, and ONR, as well as NIH and MITRE:

Research Sponsors

His specialty is the use of silicon nanowires in lieu of patch clamp electrodes to monitor and modulate intracellular activity, something he has been working on at Harvard for the past twenty years:

https://www.harvardmagazine.com/2011/01/virus-sized-transistors

He was claimed to have been working on silicon nanowire batteries in China, but none of his colleagues can recall him ever having worked on battery technology in his life; all of his research deals with bionanotechnology, or the blending of nanotech with living cells:

https://www.science.org/news/2020/02/why-did-chinese-university-hire-charles-lieber-do-battery- research

Reading life’s building blocks

https://news.harvard.edu/gazette/story/2019/07/harvard-researchers-present-nanowire-devices- update/

The indictment was over his collaboration with the Wuhan University of Technology. He had double- dipped, against the terms of his DOD grants, and taken money from the PRC’s Thousand Talents plan, a program which the Chinese government uses to bribe Western scientists into sharing proprietary R&D information that can be exploited by the PLA for strategic advantage (this risk has been known for a very long time):

https://www.justice.gov/usao-ma/pr/harvard-university-professor-indicted-false-statement-charges

https://www.nytimes.com/2020/02/06/us/chinas-lavish-funds-lured-us-scientists-what-did-it-get-in- return.html

https://www.nature.com/articles/d41586-020-00291-2

https://www.hsgac.senate.gov/imo/media/doc/2019-11-18%20PSI%20Staff%20Report%20- %20China’s%20Talent%20Recruitment%20Plans.pdf

https://www.research.psu.edu/sites/default/files/FBI_Risks_To_Academia.pdf

https://www.chinacenter.net/2020/china_currents/19-3/scholars-or-spies-u-s-china-tension-in- academic-collaboration/

https://www.drdavidzweig.com/wp-content/uploads/2020/05/Zweig-Kang-TTP.pdf

Charles Lieber’s own papers describe the use of silicon nanowires for brain-computer interfaces, or “neural lace” technology. His papers describe how neurons can endocytose whole silicon nanowires or parts of them, monitoring and even modulating neuronal activity:

http://cml.harvard.edu/assets/Nanowire-probes-could-drive-high-resolution-brain-machine- interfaces.pdf

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6531316/

https://spectrum.ieee.org/human-cells-eat-nanowires

Charles Lieber was a colleague of Robert Langer. Together, along with Daniel S. Kohane, they worked on a paper describing artificial tissue scaffolds that could be implanted in a human heart to monitor its activity remotely:

They’ve got the beat

https://cml.harvard.edu/assets/Cyborg-tissues_-Merging-engineered-human-tissues-with-bio- compatible-nanoscale-wires.pdf

Robert Langer, an MIT alumnus and expert in nanotech drug delivery, is one of the co-founders of Moderna:

https://www.modernatx.com/modernas-board-directors

His net worth is now $5.1 billion USD thanks to Moderna’s mRNA-1273 vaccine sales:

https://www.forbes.com/sites/giacomotognini/2020/11/12/mit-scientist-bob-langer-becomes-a- billionaire-thanks-to-moderna-stock-rally/?sh=41c3819a3a90

Moderna’s Stock Rally Makes Bob Langer a Billionaire

Both Charles Lieber and Robert Langer’s bibliographies describe, essentially, techniques for human enhancement, i.e. transhumanism:

Home

Home

Klaus Schwab, the founder of the World Economic Forum and the architect behind the so-called “Great Reset”, has long spoken of the “blending of biology and machinery” in his books:

https://invesbrain.com/klaus-schwab-great-reset-will-lead-to-fusion-of-our-physical-digital-biological- identity/

https://www.penguinrandomhouse.com/books/598250/shaping-the-future-of-the-fourth-industrial- revolution-by-klaus-schwab-founder-and-executive-chairman-world-economic-forum-with-nicholas- davis/

Since these revelations, it has come to the attention of independent researchers that the COVID-19 vaccines (and even some surgical masks) may contain reduced graphene oxide nanoparticles:

https://ambassadorlove.wordpress.com/2021/08/09/confirmed-graphene-oxide-main-ingredient-in- covid-shots/

https://www.thelibertybeacon.com/graphene-oxide-the-vector-for-covid-19-democide/

https://www.orwell.city/2021/06/vaccination-vial-analysis-explained.html

https://www.nature.com/articles/s41428-020-0350-9

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6141029/

https://www.cbc.ca/news/canada/montreal/masks-early-pulmonary-toxicity-quebec-schools-daycares- 1.5966387

https://humansarefree.com/2021/04/bombshell-disposable-blue-face-masks-found-to-contain-toxic- asbestos-like-substance-that-destroys-lungs.html

Japanese researchers have also found unexplained contaminants in COVID-19 vaccines:

https://www.nbcnews.com/news/world/japan-suspends-1-6m-doses-moderna-shot-after- contamination-reports-n1277669

https://www.fiercepharma.com/pharma/contaminant-moderna-covid-19-vaccine-vials-found-japan- was-metallic-particles-report

https://www.theburningplatform.com/2021/08/27/japan-suspects-contaminant-in-moderna-vaccines- is-metallic-reacts-to-magnets/

Graphene oxide is an anxiolytic. It has been shown to reduce the anxiety of laboratory mice when injected into their brains:

https://www.sciencedirect.com/science/article/pii/S0142961221001058

https://graphene-flagship.eu/graphene/news/soothing-the-symptoms-of-anxiety-with-graphene-oxide/

Indeed, given SARS-CoV-2 Spike’s propensity to compromise the blood-brain barrier and increase its permeability, it is the perfect protein for preparing brain tissue for extravasation of nanoparticles from the bloodstream and into the brain:

https://www.templehealth.org/about/news/sars-cov-2-spike-proteins-disrupt-the-blood-brain-barrier- potentially-raising-risk-of-neurological-damage-in-covid-19-patients

https://www.croiconference.org/abstract/neuromodulatory-effects-of-sars-cov-2-on-the-blood-brain- barrier/

https://www.nature.com/articles/s41598-020-75253- 9?utm_source=xmol&utm_medium=affiliate&utm_content=meta&utm_campaign=DDCN_1_GL01_metadata_scirep

https://pubs.acs.org/doi/10.1021/acsanm.8b02056

https://www.sciencedirect.com/science/article/pii/S0168365916303236

Graphene is also highly conductive and, in some circumstances, paramagnetic:

https://www.livescience.com/graphene-hides-rare-magnetism.html

https://www.sciencedirect.com/science/article/pii/S0008622319305809

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6474003/

https://www.naturalnews.com/2021-07-19-graphene-based-neuromodulation-technology-is-real- inbrain-neuroelectronics.html

BRAIN is an acronym for Brain Research Through Advancing Innovative Neurotechnologies®. This program involves the development of brain-computer interface technologies for the military, particularly non-invasive, injectable systems that cause minimal damage to brain tissue when removed:

https://www.darpa.mil/program/our-research/darpa-and-the-brain-initiative

Various methods have been proposed for achieving this, including optogenetics, magnetogenetics, ultrasound, implanted electrodes, and transcranial electromagnetic stimulation. In all instances, the goal is to obtain read or read-write capability over neurons:

https://www.darpa.mil/news-events/2019-05-20

Wireless brain-computer interfaces may interact with current or future wireless GSM infrastructure, creating neurological data security concerns:

https://neuralink.com/

Neuralink and the Brain’s Magical Future

https://www.frontiersin.org/articles/10.3389/fnins.2019.00112/full

https://www.intechopen.com/chapters/44252

https://www.brown.edu/news/2021-03-31/braingate-wireless

https://www.psychologytoday.com/us/blog/the-future-brain/202107/ai-and-vr-transform-thoughts- action-wireless-bci

A BCI that is capable of altering the contents of one’s mind would theoretically be capable of altering mood and personality, or perhaps even subjugating someone’s very will, rendering them utterly obedient to authority:

https://link.springer.com/article/10.1007/s11023-012-9298-7

Mind reading and brain computer interface technology: the future is coming, fast

BCIs could be used to unscrupulously alter perceptions of basic things such as emotions and values, changing people’s thresholds of satiety, happiness, anger, disgust, and so forth:

http://www.buffalo.edu/news/releases/2010/07/11518.html

Brain-machine interfaces may be used to study and regulate mood

https://www.nature.com/articles/s41593-019-0488-y

For the wealthy, neural laces would be an unequaled boon, giving them the opportunity to enhance their intelligence with neuroprosthetics (i.e. an “exocortex”):

https://www.adforum.com/agency/6664937/press-releases/70226/opinion-the-last-humans-and-the- next-brands

https://ieeexplore.ieee.org/document/6893912

The people who rule over us are Dark Triad types who cannot be trusted with such power:

https://www.egonzehnder.com/de/insight/can-dark-triad-leaders-be-a-good-choice-for-a-leadership- position

https://www.sakkyndig.com/psykologi/artvit/babiak2010.pdf

https://www.theatlantic.com/health/archive/2012/07/the-startling-accuracy-of-referring-to-politicians- as-psychopaths/260517/

https://medium.com/world-issues-politics-economics-and-more/the-rise-of-the-psychopath-and- sociopath-to-political-power-b67ef9073477

https://fortune.com/2021/06/06/corporate-psychopaths-business-leadership-csr/

https://www.washingtonpost.com/news/on-small-business/wp/2016/09/16/gene-marks-21-percent-of- ceos-are-psychopaths-only-21-percent/

https://www.forbes.com/sites/jackmccullough/2019/12/09/the-psychopathic-ceo/

https://en.wikipedia.org/wiki/Psychopathy_in_the_workplace

 

 

 

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The Covid Coyote Conspiracy Theory

Aug 222021
 
 August 22, 2021  Posted by at 7:55 pm Finance Tagged with: , , , , , , ,  12 Responses »


Salvador Dali Spain 1936-38

 

 

A very to the point comment from today’s Comments section at the Automatic Earth by long term and highly appreciated commenter TAE Summary. Some of this stuff is just brilliant. If only I could be this concise.

 

 

As I mentioned early my town has a rat infestation problem and though some suggested rat traps the mayor (who owns a coyote pelt farm) decided to address this by introducing coyotes. This had some unforeseen consequences. The coyotes also ate peoples’ pets and chickens and were a danger to toddlers. The rats mutated to a strain that many coyotes wouldn’t eat (the so called Sigma Rats). Now there is a new problem: Coyotes kill other animals (like racoons) and the rats feed on the carcasses and their population explodes (this is known as Coyote Dependent Enhancement).

Many people with pets, chickens and toddlers distrust coyotes and fenced off their yards and started using rat traps. They claimed traps worked well but the mayor brought in an expert that claimed that traps don’t work as well as coyotes and that traps can be dangerous to the user so the city outlawed the sale of rat traps. The mayor’s expert also did a study that showed that 93% of the rats were now coming from fenced yards and that Sigma Rats were breeding and mutating there. In desperation some anti-coyotes started buying gopher traps and trying to use these to catch rats.

One woman injured her finger in a gopher trap. Her trip to the emergency room was front page news. People complained that news of their pets that were eaten were never covered by the paper. This was dismissed as an anti-coyote conspiracy theory. Pro-coyotes are saying those with fences don’t care about their neighbors, should be ostracized, lose their jobs and they are threatening to forcibly tear down all coyote proof fences in town. The mayor is consulting with the city lawyer to see if these things are legal.

 

 

 

 

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Debt Rattle October 30 2020

Oct 302020
 
 October 30, 2020  Posted by at 9:06 am Finance Tagged with: , , , , , , , , , , , ,  14 Responses »


Minor White Windowsill Daydreaming Rochester NY 1958

 

• A Fake Persona Laid The Groundwork For A Hunter Biden Conspiracy Deluge (NBC)
• NY Post’s ‘Smoking Gun’ Hunter Biden Email 100% Authentic (DC)
• Joe Biden’s Biggest Problem Is That There Is No Vaccine For Trumpism
• ‘We’ve Got To Stop The Bleeding’: Democrats Sound Alarm In Miami (Pol.)
• Glenn Greenwald Leaves The Intercept After Editors Refuse Biden Criticism (ZH)
• The ‘Censored’ Biden Story That Made Glenn Greenwald Quit The Intercept (ZH)
• FBI Initially Turned Down Purported Hunter Biden Laptop (JTN)
• UPS Suddenly Locates “Lost” Biden Evidence, Returns Docs To Tucker Carlson (ZH)
• Western Rewriting History Of WW2 Has Incensed Russians (Robinson)
• US GDP Booms At 33.1% Rate In Q3 (CNBC)
• COVID Measures ‘Monument Of Collective Hysteria And Folly’: Ex-Judge (G.)

 

 

 

 

Someone said on Twitter yesterday: “You two are creating a world characterized by illogic, distrust and uncertainty. It’s a world no one wants our kids to grow up in. It’s sad that you do this. Here’s the absurdity behind the false Christopher Balding story:”

I am one of the two this person talks about, don’t know who the other is. (S)he is referring to an NBC article yesterday, “How A Fake Persona Laid The Groundwork For A Hunter Biden Conspiracy Deluge”.

It is about the report Christopher Balding published on Oct 22, (see here), but NBC’s criticism of the “Balding report” does not address its contents, only its shape, and calls it “FAKE”. That is, Balding and others invented a person who was cited as the author of it. And yes, that is a peculiar way to publish something, but Balding has always said the real author needs protection.

Then the NBC piece attempts to mix the report with other stories, the ones derived from the contents of Hunter Biden’s laptop. But there is hardly any overlap. It appears to be a intentional confusion, so people will believe everything regarding Hunter Biden accusations is fake. But at the same moment, the Daily Caller reports that forensic analysis proves “NY Post’s ‘Smoking Gun’ Hunter Biden Email 100% Authentic”. And that in turn comes one day after the Senate Homeland Security and Governmental Affairs Committee said all Bobulinski material has been verified.

Christopher Balding has reacted on Twitter, his entire reaction thread is here.

Balding reacts

 

 

• A Fake Persona Laid The Groundwork For A Hunter Biden Conspiracy Deluge (NBC)

One month before a purported leak of files from Hunter Biden’s laptop, a fake “intelligence” document about him went viral on the right-wing internet, asserting an elaborate conspiracy theory involving former Vice President Joe Biden’s son and business in China. The document, a 64-page composition that was later disseminated by close associates of President Donald Trump, appears to be the work of a fake “intelligence firm” called Typhoon Investigations, according to researchers and public documents. The author of the document, a self-identified Swiss security analyst named Martin Aspen, is a fabricated identity, according to analysis by disinformation researchers, who also concluded that Aspen’s profile picture was created with an artificial intelligence face generator.

The intelligence firm that Aspen lists as his previous employer said that no one by that name had ever worked for the company and that no one by that name lives in Switzerland, according to public records and social media searches. One of the original posters of the document, a blogger and professor named Christopher Balding, took credit for writing parts of it when asked about it and said Aspen does not exist. Despite the document’s questionable authorship and anonymous sourcing, its claims that Hunter Biden has a problematic connection to the Communist Party of China have been used by people who oppose the Chinese government, as well as by far-right influencers, to baselessly accuse candidate Joe Biden of being beholden to the Chinese government.

The document and its spread have become part of a wider effort to smear Hunter Biden and weaken Joe Biden’s presidential campaign, which moved from the fringes of the internet to more mainstream conservative news outlets. An unverified leak of documents — including salacious pictures from what President Donald Trump’s personal attorney Rudy Giuliani and a Delaware Apple repair store owner claimed to be Hunter Biden’s hard drive — were published in the New York Post on Oct. 14. Associates close to Trump, including Giuliani and former White House chief strategist Steve Bannon, have promised more blockbuster leaks and secrets, which have yet to materialize. The fake intelligence document, however, preceded the leak by months, and it helped lay the groundwork among right-wing media for what would become a failed October surprise: a viral pile-on of conspiracy theories about Hunter Biden.

The Typhoon Investigations document was first posted in September to Intelligence Quarterly, an anonymous blog “dedicated to collecting important daily news,” according to its “about” section. Historical domain records show the blog was registered to Albert Marko, a self-described political and economic adviser, who also lists the blog on his Twitter bio. When asked about the provenance of the document, Marko said he received it from Balding. Balding, previously an associate professor at Fulbright University Vietnam who studied the Chinese economy and financial markets, posted the document on his blog on Oct. 22, seven weeks after it was initially published.

Logan Hall NBC

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“Graham said the only way the email could have been faked is if someone hacked into Google’s servers, found the private key and used it to reverse engineer the email’s DKIM signature.”

• NY Post’s ‘Smoking Gun’ Hunter Biden Email 100% Authentic (DC)

An email Hunter Biden received in April 2015 from a Burisma executive discussing an introduction to then-Vice President Joe Biden, which lies at the heart of a New York Post investigation, is unquestionably authentic, a cybersecurity expert told the Daily Caller News Foundation on Thursday. The DCNF obtained a full copy of Hunter Biden’s alleged laptop from former New York Mayor Rudy Giuliani on Wednesday. The DCNF provided Robert Graham, the founder of the cybersecurity firm Errata Security, with a copy of the email and its metadata for forensic analysis. Graham, who has been cited as a cybersecurity expert in The Washington Post, the Associated Press, Wired, Engadget and other news and technology outlets, told the DCNF that he used a cryptographic signature found in the email’s metadata to validate that Vadym Pozharsky, an advisor to Burisma’s board of directors, emailed Hunter Biden on April 17, 2015.

In the email, Pozharsky thanked Hunter Biden for “inviting me to DC and giving an opportunity to meet your father and spent [sic] some time together.” The New York Post first reported the email in October, describing it as a “smoking-gun” showing that Hunter Biden had introduced his father to the Burisma executive in 2015. The email was sent less than a year before Joe Biden pressured former Ukrainian President Petro Poroshenko to fire a prosecutor who was reportedly investigating the gas company in return for a $1 billion loan guarantee. Graham previously told the DCNF that emails sent from Gmail, such as Pozharski’s message to Hunter Biden, can be “absolutely verified beyond a shadow of a doubt” by testing its contents against the unique DKIM signature found in its metadata.


Graham used the DKIM signature within the email to verify with a private key on Google’s servers that the sender, recipient, subject, date and body of the message that the DCNF obtained from Giuliani were unchanged from when the email was originally sent in April 2015. Graham said the only way the email could have been faked is if someone hacked into Google’s servers, found the private key and used it to reverse engineer the email’s DKIM signature.

Daily Caller vs NBC

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“America is past the “I have a plan” phase. A sizable contingent of regular citizens have decided either that the disease is a “hoax,” or that it’s not worth altering their everyday lives for in any major way.”

• Joe Biden’s Biggest Problem Is That There Is No Vaccine For Trumpism

As the 2020 presidential election hurls itself at us, there is one thing upon which the far right and far left agree: The COVID-19 pandemic should be over within days after Nov. 4. The right says the “deep state” is holding on to a secret vaccine that it will introduce to the world once Donald Trump is thrown out of office. The left says that Trump is the primary cause of the virus’ spread, and that with the biological weapon in chief out of office, people will soon be out safely ingesting each other’s disgusting germs.Alas, despite these extremes being so far out there that they meet again in the back, neither is right. Trump is not entirely to blame for the virus’ spread, and Joe Biden’s election will not be a panacea in stopping it.

Sure, Biden has a “plan” to solve COVID-19, and it contains all the commonsense proposals: vaccine funding, paid leave, more protective equipment and more funding for testing. But America is past the “I have a plan” phase. A sizable contingent of regular citizens have decided either that the disease is a “hoax,” or that it’s not worth altering their everyday lives for in any major way. In other words, COVID-19 is a cultural problem, not a governmental one. It is the cultural component in which Trump has failed America the most. Over the summer, it appeared the virus was waning — businesses had quickly ramped up production of masks and ventilators needed in hospitals and emergency rooms and limited state shutdowns were being enforced. Infection rates were dropping around the country.

Then, in the wake of the death of Minneapolis man George Floyd’s at the hands of police, hundreds of thousands of people took to the streets to protest, effectively signaling the end of lockdowns. Science professionals who urged staying home were silent on the protests, leading those on the right to throw up their hands and say, “Well, I guess lockdown is over.” That is where Trump’s mismanagement has cost America. In the early days of the virus, Trump said all the wrong things, telling Americans it was just “one person coming in from China” and it would “disappear one day, it’s like a miracle.” And speaking of miracles, he vowed to have churches open for Easter.

Say we were to give Trump some benefit of the doubt — in the early months of the spread, everyone was still figuring out what was happening, and rapid spread would have occurred under any president. [..] Unless Biden can legislate trust in the media and politicians, the pandemic will stretch well into his presidency. The reality is a sizable portion of America is carrying on, waiting for a vaccine — which, ironically, many of them won’t take because it will probably be Joe Biden at the helm of the country when it is released. And sadly, there is no vaccine for Trumpism.

Read more …

“To date, Republicans have turned out 59 percent of their voters in Miami-Dade and Democrats have turned out 53 percent, a 6-point margin. That’s twice the margin Republicans had at this point in 2016..“

• ‘We’ve Got To Stop The Bleeding’: Democrats Sound Alarm In Miami (Pol.)

Democrats are sounding the alarm about weak voter turnout rates in Florida’s biggest county, Miami-Dade, where a strong Republican showing is endangering Joe Biden’s chances in the nation’s biggest swing state. No Democrat can win Florida without a huge turnout and big winning margins here to offset losses elsewhere in the state. But Democrats are turning out at lower rates than Republicans and at lower rates than at this point in 2016, when Hillary Clinton won by 29 percentage points here and still lost the state to Donald Trump. One particular area of concern is the relative share of ballots cast by young voters of color and less-reliable Democratic voters.

Part of the problem, according to interviews with a dozen Democratic elected officials and operatives, is the Biden campaign‘s decision to discourage field staff from knocking on doors during the pandemic and its subsequent delay in greenlighting — and funding — a return to door-to-door canvassing. “We did not get the kind of funding for different vendors who would do that type of work until late in the campaign,” said Rep. Frederica Wilson, a party institution who represents Miami’s heavily Black congressional district. Wilson said the good news is that Biden’s running mate, California Sen. Kamala Harris, is working with her on a turnout event for this weekend geared toward young Black men.


But the veteran congresswoman said there are still skilled operatives in her district who excel at turnout work who have yet to get approved by the campaign, a puzzling delay for an operation that raised a record $363 million the month before. “I screamed. Hollered. I called. I lobbied from the top to the bottom,” Wilson said of her efforts to get turnout operations started in the community, including sending written proposals to Biden’s campaign and having virtual Zoom meetings with his advisers.

Read more …

The election, actually the entire Trump presidency, has brought out the best and the worst in US journalism. It will never be the same.

• Glenn Greenwald Leaves The Intercept After Editors Refuse Biden Criticism (ZH)

The Intercept co-founder Glenn Greenwald resigned from the outlet on Thursday, after ‘editors censored an article I wrote this week, refusing to publish it unless I remove all sections critical of Joe Biden, the candidate vehemently supported by all Intercept editors involved in this effort at suppression.’ Greenwald writes at his new home (greenwald.substack.com):”The censored article, based on recently revealed emails and witness testimony, raised critical questions about Biden’s conduct. Not content to simply prevent publication of this article at the media outlet I co-founded, these Intercept editors also demanded that I refrain from exercising a separate contractual right to publish this article with any other publication.


I had no objection to their disagreement with my views of what this Biden evidence shows: as a last-ditch attempt to avoid being censored, I encouraged them to air their disagreements with me by writing their own articles that critique my perspectives and letting readers decide who is right, the way any confident and healthy media outlet would. But modern media outlets do not air dissent; they quash it. So censorship of my article, rather than engagement with it, was the path these Biden-supporting editors chose.”Apparently he’s also blocked from publishing the article elsewhere, though he’s “asked my lawyer to get in touch with FLM to discuss how best to terminate my contract.”

People who quit
https://twitter.com/APompliano/status/1321915427522576384

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“Rather than condemn Biden for ignoring these questions — the natural instinct of a healthy press when it comes to a presidential election — journalists have instead led the way in concocting excuses to justify his silence.”

• The ‘Censored’ Biden Story That Made Glenn Greenwald Quit The Intercept (ZH)

Publication by the New York Post two weeks ago of emails from Hunter Biden’s laptop, relating to Vice President Joe Biden’s work in Ukraine, and subsequent articles from other outlets concerning the Biden family’s pursuit of business opportunities in China, provoked extraordinary efforts by a de facto union of media outlets, Silicon Valley giants and the intelligence community to suppress these stories. One outcome is that the Biden campaign concluded, rationally, that there is no need for the front-running presidential candidate to address even the most basic and relevant questions raised by these materials. Rather than condemn Biden for ignoring these questions — the natural instinct of a healthy press when it comes to a presidential election — journalists have instead led the way in concocting excuses to justify his silence.

After the Post’s first article, both that newspaper and other news outlets have published numerous other emails and texts purportedly written to and from Hunter reflecting his efforts to induce his father to take actions as Vice President beneficial to the Ukrainian energy company Burisma, on whose board of directors Hunter sat for a monthly payment of $50,000, as well as proposals for lucrative business deals in China that traded on his influence with his father. Individuals included in some of the email chains have confirmed the contents’ authenticity. One of Hunter’s former business partners, Tony Bubolinski, has stepped forward on the record to confirm the authenticity of many of the emails and to insist that Hunter along with Joe Biden’s brother Jim were planning on including the former Vice President in at least one deal in China.

And GOP pollster Frank Luntz, who appeared in one of the published email chains, appeared to confirm the authenticity as well, though he refused to answer follow-up questions about it. Thus far, no proof has been offered by Bubolinski that Biden ever consummated his participation in any of those discussed deals. The Wall Street Journal says that it found no corporate records reflecting that a deal was finalized and that “text messages and emails related to the venture that were provided to the Journal by Mr. Bobulinski, mainly from the spring and summer of 2017, don’t show either Hunter Biden or James Biden discussing a role for Joe Biden in the venture.”

But nobody claimed that any such deals had been consummated — so the conclusion that one had not been does not negate the story. Moreover, some texts and emails whose authenticity has not been disputed state that Hunter was adamant that any discussions about the involvement of the Vice President be held only verbally and never put in writing.

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And then sat on it for a year.

• FBI Initially Turned Down Purported Hunter Biden Laptop (JTN)

The family of the Delaware shop owner who says he came into possession of a laptop purportedly belonging to Hunter Biden first tried to turn over the computer to the FBI in summer 2019 but was rebuffed, only to have agents return months later during President Trump’s impeachment proceedings, his lawyer said Thursday night. In a lengthy statement to Just the News, attorney Brian Della Rocca provided a detailed timeline of the actions his client, John Paul Mac Isaac, says he took in trying to get authorities to investigate the laptop. The lawyer also decried public figures on both sides of the aisle for politicizing the episode and for attacking the Delaware computer repairman without having the facts.

Mac Isaac “unwittingly became the target of a smear campaign by doing what he thought was right,” Della Rocca said. “John Paul is not a right-wing fanatic, nor is he a Russian hacker.” In the statement that was originally drafted to be an op-ed, Della Rocca made several new revelations about the laptop that has stirred worldwide political intrigue on the eve of the American presidential election, an FBI investigation, and a news media and social media censorship campaign. Among the revelations: • A man claiming to be Hunter Biden dropped off three laptops on April 12, 2019 to Mac Isaac’s shop to be repaired, and returned two days later with an external hard drive. The man believed to be Hunter Biden eventually abandoned one of the laptops and the external hard drive without paying for them. • Mac Isaac’s father, a retired Air Force colonel, first tried to provide a copy of the laptop to an FBI office in Albuquerque, N.M., in summer 2019, but the bureau turned him away.


• FBI agents from Albuquerque, N.M., contacted the father in October 2019, as impeachment proceedings were ongoing in Washington, to discuss the laptop and then to interview the younger Mac Isaac in Delaware. A few weeks later, FBI agents in Delaware seized the original laptop from Mac Isaac. • On Oct. 13 of this year, Hunter Biden’s attorney contacted Mac Isaac to discuss the hard drive and followed up with an email but no further action. Three people familiar with the matter told Just the News on Thursday that the FBI has an ongoing investigation into business transactions involving firms associated with Hunter Biden and other business associates. The investigation began in 2019 around the time the FBI followed up on Mac Isaac’s concerns and has since expanded to issues raised by an IRS whistleblower complaint filed a year ago. The probe got new evidence in recent days when Hunter Biden’s former business partner Tony Bobulinski turned over documents and other materials during an FBI interview, one person with knowledge of the case said.

Read more …

This story just gets crazier.

• UPS Suddenly Locates “Lost” Biden Evidence, Returns Docs To Tucker Carlson (ZH)

Delivery giant UPS confirmed Thursday it found a lost trove of documents that Fox News’ Tucker Carlson said would provide revelations in the ever-growing scandal involving Joe Biden’s son Hunter and his overseas business dealings. UPS Senior Public Relations Manager Matthew O’Connor told Business Insider on Thursday afternoon that the documents are located and are being sent to Carlson. “After an extensive search, we have found the contents of the package and are arranging for its return,” he said in a statement. “UPS will always focus first on our customers, and will never stop working to solve issues and make things right. We work hard to ensure every package is delivered, including essential goods, precious family belongings and critical healthcare.”

It came after Glenn Zaccara, UPS’s corporate media relations director, confirmed Carlson used the company to ship the materials before they were lost. “The package was reported with missing contents as it moved within our network,” Zaccara said before they were located. “UPS is conducting an urgent investigation.” During his Wednesday night broadcast, Carlson said that a UPS employee notified them that their package “was open and empty … apparently, it had been opened.” “The Biden documents never arrived in Los Angeles. Tuesday morning we received word from our shipping company that our package had been opened and the contents were missing,” Carlson also remarked. “The documents had disappeared.”


On Tuesday night, Carlson interviewed former Hunter Biden associate Tony Bobulinski, who claimed that the former Democratic vice president could be compromised by the Chinese Communist Party due to Hunter and brother James Biden’s business dealings in the country. Joe Biden has not responded to Bobulinski’s allegations. Last week during his debate with President Donald Trump, he said he had “not taken a penny from any foreign source ever in my life.”

Read more …

Paul Robinson is a professor at the University of Ottawa. He writes about Russian and Soviet history, military history, and military ethics.

• Western Rewriting History Of WW2 Has Incensed Russians (Robinson)

It used to be simple: The Nazis and their allies were the bad guys, and the Americans, British, and Soviets were the good guys. Then contemporary politics took over and the narrative around WW2 became a modern battleground. The conflict ended 75 years ago. But the struggle over its history has perhaps never been as intense as it is today. In the first few decades after the war, the interpretation of it was fairly clear, and almost universally accepted: The war was a product of German aggression and the extreme ideology of the Nazis. The Germans were the criminals; and the peoples of the Allied powers were the victims. Quantitatively, the largest group of these victims was in Eastern Europe – Jews and citizens of the Soviet Union, who the Nazis killed in the millions.

From the mid-1980s, a new narrative began to creep into public discourse in the West. This maintained that Nazism was not uniquely evil nor solely responsible for the war. Rather Nazism and communism were equally morally repugnant, and Germany and the Soviet Union were mutually responsible for the tragedy. The USSR, rather than being a victim of aggression, was itself one of the prime aggressors of the era. At first, this revisionist view was restricted to a narrow group of academics. Most notable was the German historian Ernst Nolte, who in 1986 provoked the Historikerstreit (‘Historians’ Dispute’) in what was then West Germany, by suggesting that the genocidal campaign of the Nazis was just one of many such campaigns by other states, most notably the Soviet Union, in an overall ‘age of genocide’.

This theme was then popularized by certain other historians of an anti-Soviet, and later anti-Russian, bent. But what really gave it legs was the collapse of communism and the rise of nationalism among states of the former Soviet Union and Warsaw Pact. In countries such as Poland, Latvia, and post-2014 Ukraine, nationalist leaders have sought to promote their own legitimacy by adopting a strong anti-Russian line, and historical revisionism has proven to be an essential part of their toolkit. As part of this process, history has been rewritten to portray the Soviet Union as having occupied and oppressed the nations of Eastern Europe during World War II, to suggest a moral equivalence between the Nazis and the communists, and in extreme cases to portray locals who fought alongside the Germans as heroes rather than collaborators. For instance, in Ukraine.

[..] It was in this context that Russian President Vladimir Putin this week denounced any attempt to equate the USSR and Nazi Germany. This followed a complaint by Elena Yampolskaya, a member of the Russian parliament, who noted that two books had recently been published in Russia which suggested similarities between Nazism and communism, and in one case argued that “the Soviets were worse than the Nazis.” Putin agreed with Yampolskaya’s complaint that this was “absolutely unacceptable.” The Russian Federation should pass legislation similar to that of other countries which criminalizes denial of the Armenian genocide, Putin said, adding that, “We will not allow this heroic page in history to be crossed out.”

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Good for Trump in the election?

• US GDP Booms At 33.1% Rate In Q3 (CNBC)

Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together, the Commerce Department reported Thursday. Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period. The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.

Markets reacted positively to the news, with Wall Street erasing a loss at the open and turning mostly positive. “It’s obviously good news that the economy bounced back in the third quarter,” said Eric Winograd, senior economist at AllianceBernstein. “There’s still a lot of work to do here and the pace of improvement … is going to slow. The stimulus programs that provided much of the economic lift last quarter have expired or are expiring. Fiscal support is diminishing. That is part of the reason that the pace of growth is going to slow from here.” Increased consumption along with sold gains in business and residential investment as well as exports fueled the third-quarter rebound. Decreases in government spending following the expiration of the CARES Act rescue funding subtracted from GDP.

The powerful growth pace came after states across the country shut down large swaths of activity in an effort to stem the spread of Covid-19, which the World Health Organization declared a pandemic on March 11. [..] While the news on Q3 was good for the $21.2 trillion economy, the U.S. faces a tougher road ahead as coronavirus cases increase and worries grow over the health and economic impacts. Nearly half the 22 million jobs lost in March and April remain unfilled and the unemployment rate remains at 7.9%, more than double its pre-pandemic level as 12.6 million Americans are still out of work.


“This is going to be seized upon by both ends of the political spectrum as either evidence of the strength of the post-lockdown economic rebound or a cursory warning that the gains could be short-lived,” said James McCann, senior global economist at Aberdeen Standard Investments. “The reality is that the GDP numbers demonstrate that the U.S. economy did indeed rebound strongly as lockdown measures were lifted.”

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Jonathan Sumption, former British supreme court justice, slams ‘cavalier use of coercive powers’ and ‘loss of freedom’.

• COVID Measures ‘Monument Of Collective Hysteria And Folly’: Ex-Judge (G.)

The government has deliberately stoked fear over coronavirus while behaving like an authoritarian regime relying on police state tactics, according to the former supreme court justice Jonathan Sumption. In his most forceful critique to date of the government’s handling of the pandemic, the outspoken lawyer condemned the way “the British state exercised coercive powers over its citizens on a scale never previously attempted”. Delivering the Cambridge Freshfields annual law lecture, Lord Sumption said: “The ease with which people could be terrorised into surrendering basic freedoms which are fundamental to our existence … came as a shock to me in March 2020.”

He is not the only former judge recently to lament the loss of effective parliamentary scrutiny of emergency Covid powers. Last month Lady Hale, former president of the supreme court, alleged that MPs and peers had surrendered their role during the coronavirus pandemic.In his address Sumption said the emergency measures were “the most significant interference with personal freedom in the history of our country”. He stated: “I do not doubt the seriousness of the epidemic, but I believe that history will look back on the measures taken to contain it as a monument of collective hysteria and governmental folly.”

The government, he noted, had already tried to avoid parliamentary scrutiny during Brexit by proroguing parliament, a procedure subsequently ruled unlawful by the supreme court last year. “Governments hold power in Britain on the sufferance of the elected chamber of the legislature,” Sumption argued. “Without that we are no democracy. The present government has a different approach. It seeks to derive its legitimacy directly from the people, bypassing their elected representatives.” Sage, the government’s panel of expert scientific advisers, he said, had this year noted: “Citizens should be treated as rational actors, capable of taking decisions for themselves and managing personal risk.” That warning, Sumption said, had been ignored.

[..] The police had repeatedly exceeded their powers, he suggested. “When I ventured to criticise them in a BBC interview for acting beyond their powers I received a letter from the Derbyshire police commissioner objecting to my remarks on the ground that in a crisis such things were necessary. The implication was that in a crisis the police were entitled to do whatever they thought fit, without being unduly concerned about their legal powers. That is my definition of a police state.” By using “propaganda”, he said, the government had “to some extent been able to create its own public opinion – fear was deliberately stoked up by the government”.

Read more …

 

 

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Taiwan COVID
https://twitter.com/i/status/1310613292293984256

 

 

 

 

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Debt Rattle June 25 2020

Jun 252020
 
 June 25, 2020  Posted by at 11:39 am Finance Tagged with: , , , , , , , , , , ,  32 Responses »


Thomas Eakins Walt Whitman 1891

 

• Strzok’s Newly Discovered FBI Notes Deliver Jolt To ‘Obamagate’ Evidence (JTN)
• Flynn Dismissal Order ‘Thoroughly Demolishes’ Dissenting Judge’s Opinion (ZH)
• Julian Assange Accused In US Indictment Of Conspiracy (Fox)
• State, Local Gov’ts Need Billions More In Aid To Avert 4 Million Layoffs (MW)

 

 

Ever since I began reporting on the new coronavirus, I have pointed to trendlines as the reason to publish graphs and numbers on a daily basis. They make it possible to see how things develop. And what I see lately scares the heebees out of me. The trendlines tell us that things are getting worse, fast, while at the same time everyone pretends that they’re ready to re-open their societies.

I’ve said from the start that lockdowns can only be temporary, because we are social beings, but also that you need to use a lockdown wisely. Very few societies have, though.

In a few days’ time we will cross 10 million global confirmed cases, and 500,000 deaths. There is a lot wrong with the way these numbers are tallied, but they’re the best we have. And yes, these two “milestones” indicate a case fatality rate of 5%. Now, I can hear the protests all the way over here, and I don’t think a 5% rate is real, but even just one tenth of that, an 0.5% rate, is pretty terrible.

Yes, there are many more infections than those 10 million, no doubt, but there are also a lot more deaths than half a million. And by the way, that is a lot of lives lost, we should never forget that. Moreover, both the cases and the deaths just keep on coming, and there is no end in sight to that.

If things continue along current trendlines, we will in all likelihood observe how the end to the lockdowns does a lot more economic damage than the lockdowns ever did. Several US states already ring alarm bells over their healthcare facilities threatening to be overwhelmed.

And what about Brazil, Mexico, India and more? What will happen in Europe now all countries there are opening up, claiming that they have it all solved? There are many many millions of jobs in the west that are gone forever, and I can’t see countries being prepared to deal with that.

Be careful out there!

 

 

 

 

 

 

 

 

 

 

 

Worldometer reports new cases for June 24 (midnight to midnight GMT+0) at + 172,383.

 

 

New cases past 24 hours in:

• US + 38,621
• Brazil + 40,021
• Russia + 7,790
• India + 23,229

 

 

 

From Worldometer yesterday evening -before their day’s close-:

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

A lot is being said about the “newfound” Peter Strzok notes from the Jan 4 2017 meeting with Rise, Yates, Biden, Comey, Obama. I think this part has more meaning than any other.

• Strzok’s Newly Discovered FBI Notes Deliver Jolt To ‘Obamagate’ Evidence (JTN)

The real impact of the notes may be on the Justice Department’s ongoing investigation of the Russia investigators, where U.S. Attorneys John Durham and Jeff Jensen are determining whether the FBI or others committed crimes in deceiving the courts or Congress about the evidence in the now-discredited Russia collusion allegations. A former senior FBI official told Just the News that Strzok’s notes about the White House meeting are a red flag that the Comey-led bureau may have been involving itself illegitimately in a political dispute between the outgoing Obama administration and incoming Trump administration. “It was a political meeting about a policy dispute, and the bureau had no business being involved,” Former Assistant Director for Intelligence Kevin Brock said. “No other FBI director would ever have attended such a meeting.

“Comey is quoted in the notes as saying the Kislyak call appeared legit. At that point he should have gotten up and left the room,” Brock added. “The FBI had no business being represented in that meeting. It did not have a counterintelligence interest any longer.”

A second impact of the notes could be on the campaign trail. A few months ago, Biden claimed he was unaware of the Flynn probe as he was leaving the VP’s office. I know nothing about those moves to investigate Michael Flynn,” he said. He then clarified his denial. “I was aware that … they asked for an investigation,” Biden said. “But that’s all I know about it, and I don’t think anything else.” If Powell’s interpretation of the notes is correct, Biden was knowledgeable enough to suggest a possible pretext for continued investigation, the Logan Act. And he eventually unmasked one of Flynn’s intercepted phone calls a week later.

https://twitter.com/Techno_Fog/status/1275803339738021890

Read more …

Is this a deliberate mess?

• Flynn Dismissal Order ‘Thoroughly Demolishes’ Dissenting Judge’s Opinion (ZH)

Missouri appellate attorney John Reeves has weighed in on today’s decision by the US Court of Appeals for DC ordering Judge Emmett Sullivan to grant a DOJ request to drop the case against Michael Flynn. The opinion, authored by one of the three judges on the panel, Neomi J. Rao, “thoroughly demolishes” a dissenting opinion by Judge Robert Wilkins – who Reeves thinks was so off-base that he “shot himself in the foot” when it comes to any chance of an ‘en-banc review’ in which the Flynn decision would be kicked back for a full review by the DC appellate court.

[..] In all my years of appellate practice, I don’t think I’ve ever seen a non-US Supreme Court appellate opinion that so thoroughly demolishes a dissenting opinion as this one. Judge Rao could not have done better in writing the opinion, and it should be required law school rdg. In addition, Judge Wilkins’ dissenting opinion is so off-the-mark that I believe he has shot himself in the foot for purposes of en banc review–in other words, he has ensured that otherwise-sympathetic judges on the DC Circuit will vote against en banc review. Judge Rao comes out swinging by holding that its earlier opinion in Fokker “foreclose[s] the district court’s proposed scrutiny of the government’s motion to dismiss the Flynn prosecution.” p. 7.

In relying on Fokker, Judge Rao explicitly rejects Judge Wilkinson’s argument that Fokker’s holding is dicta (that is, non-binding). She holds Fokker “is directly controlling here.” p. 14. Keep in mind that Fokker was written by Chief Judge Srinivasan, an OBAMA appointee. Judge Srinivasan does NOT want Fokker’s legitimacy undermined, no matter his politics. Judge Wilkins’ dissent implies that Fokker was wrongly decided, and that it conflicts with other federal appellate courts. See p. 23 of 28. Judge Srinivasan will NOT be impressed by this argument in deciding whether to grant en banc rehearing. Fokker does not create a split. Judge Rao goes on to emphasize that while judicial inquiry MAY be justified in some circumstances, Flynn’s situation “is plainly not the rare case where further judicial inquiry is warranted.” p. 6.

Rao notes that Flynn agrees with the Govt.’s dismissal motion, so there’s no risk of his rights being violated. In addition, the Government has stated insufficient evidence exists to convict Flynn. p. 6. Rao also holds that “a hearing cannot be used as an occasion to superintend the prosecution’s charging decisions.” p. 7. But by appointing amicus and attempting to hold a hearing on these matters, the district court is inflicting irreparable harm on the Govt. because it is subjecting its prosecutorial decisions to outside inquiry. p. 8 Thus, Judge Rao holds, it is NOT true that the district court has “yet to act” in this matter, contrary to Judge Wilkins’ assertions. p. 16. “[T]he district court HAS acted here….[by appointing] one private citizen to argue that another citizen should be deprived of his liberty regardless of whether the Executive Branch is willing to pursue the charges.” p. 16. This justified mandamus being issued NOW.

Read more …

https://twitter.com/MrsC_Assange/status/1276031301036896256

• Julian Assange Accused In US Indictment Of Conspiracy (Fox)

WikiLeaks founder Julian Assange sought to recruit hackers at conferences in Europe and Asia who could provide his anti-secrecy website with classified information, and conspired with members of hacking organizations, according to a new Justice Department indictment announced Wednesday. The superseding indictment does not contain additional charges beyond the 18 counts the Justice Department unsealed last year. But prosecutors say it underscores Assange’s efforts to procure and release classified information, allegations that form the basis of criminal charges he already faces.

Beyond recruiting hackers at conferences, the indictment accuses Assange of conspiring with members of hacking groups known as LulzSec and Anonymous. He also worked with a 17-year-old hacker who gave him information stolen from a bank and directed the teenager to steal additional material, including audio recordings of high-ranking government officials, prosecutors say.

Assange’s lawyer, Barry Pollack, said in a statement that “the government’s relentless pursuit of Julian Assange poses a grave threat to journalists everywhere and to the public’s right to know.” “While today’s superseding indictment is yet another chapter in the U.S. Government’s effort to persuade the public that its pursuit of Julian Assange is based on something other than his publication of newsworthy truthful information,” he added, “the indictment continues to charge him with violating the Espionage Act based on WikiLeaks publications exposing war crimes committed by the U.S. Government.”

https://twitter.com/SomersetBean/status/1276063923641282560

Read more …

What’s going to happen to all the people who end up without jobs?

• State, Local Gov’ts Need Billions More In Aid To Avert 4 Million Layoffs (MW)

A new private sector report is warning anew of continuing damage to the economy if Washington doesn’t deliver several hundred billion dollars in budget relief to states and local governments amid the coronavirus pandemic. But Wednesday’s report by Moody’s Analytics, a private sector economic research firm, could also help illustrate a path for bipartisan agreement in Congress on next month’s fifth, and possibly final, COVID-19 response bill. The study warns that doing nothing to address the economic perils of state layoffs and cutbacks could cost 4 million jobs. But it also says that significantly less money is needed than what’s being called for by House Democrats, who passed almost $1 trillion in help for cash-poor states and local governments as part of a sweeping $3.5 trillion rescue package last month.


The Democratic bill combines $500 billion for state governments — as requested by the nation’s governors — and $375 billion for local governments, many of whom were left out of earlier relief efforts. The Moody study says that level of spending — rejected out of hand by Republicans — is likely beyond what’s needed. “The scope of aid being requested is certainly unprecedented in size and warrants significant scrutiny,” Moody’s says. “For example, the $1 trillion in aid recently approved as part of the house’s HEROES Act would be enough to raise the eyebrows of even the most aggressive advocates of fiscal stimulus.”

Read more …

 

 

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Debt Rattle April 24 2019

Apr 242019
 
 April 24, 2019  Posted by at 9:09 am Finance Tagged with: , , , , , , , , , , , , , ,  15 Responses »


Giovanni Bellini Pietà 1474

 

• Bipolar Markets in the “New Mediocre” (Roubini)
• Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)
• Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)
• Chinese Banks Are Running Out Of Dollars (ZH)
• Hillary Outlines “Roadmap” To Trump Impeachment (ZH)
• The Conspiracy Against Trump (Giraldi)
• Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)
• Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)
• UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)
• The Revelations of WikiLeaks: No. 1 (CN)

 

 

Who will be the first in the world of finance to understand what’s going on AND be honest about it? It won’t be Roubini. Nothing has anything to do with recession or trade risks anymore. It’s the Fed and the Fed only. And there are no investors as long as the Fed monopolizes what were once markets. These so-called investors are in reality a bunch of rich socialists waiting for a central bank to hand them money. They’ll also be the first to warn about the dangers of socialism.

• Bipolar Markets in the “New Mediocre” (Roubini)

Financial markets tend to undergo manic-depressive cycles, and this has been especially true in recent years. During risk-ons, investors – driven by “animal spirits” – produce bull markets, frothiness, and sometimes outright bubbles; eventually, however, they overreact to some negative shock by becoming too pessimistic, shedding risk, and forcing a correction or bear market. Whereas prices of US and global equities rose sharply throughout 2017, markets began to wobble in 2018, and became fully depressed in the last quarter of the year. This risk-off reflected concerns about a global recession, Sino-American trade tensions, and the Federal Reserve’s signals that it would continue to raise interest rates and pursue quantitative tightening.

But since this past January, markets have rallied, so much so that some senior asset managers now foresee a market “melt-up” (the opposite of a meltdown), with equities continuing to rise sharply above their current elevated levels. One could argue that this latest risk-on cycle will continue for the rest of the year. For starters, growth is stabilizing in China, owing to another round of macroeconomic stimulus there, easing fears of a hard landing. And the United States and China may soon reach a deal to prevent the ongoing trade war from escalating further.

At the same time, US and global growth are expected to strengthen somewhat in the second half of the year, and the disruption of a “hard Brexit” has been averted, with the European Union extending the deadline for the United Kingdom’s departure to October 31, 2019. As for the eurozone’s prospects, much will depend on Germany, where growth could rebound as global headwinds fade. Moreover, central banks, particularly the Fed, have become super-dovish again, and this appears to have reversed the tightening of financial conditions that produced the risk-off in late 2018.

Read more …

They are well on their way towards blowing up the entire US economy. Just like their counterparts in Japan, Europe, China. Will Russia be the last one standing?

• Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)

The Federal Reserve’s benchmark interest rate has inched up to its highest level in 11 years even though the central bank has sent a clear message that it is done tightening policy indefinitely. In recent days, the effective fed funds rate, which targets the overnight level that banks charge each other for loans, has moved up to 2.44%. That’s the highest since March 2008 and is just 6 basis points from the top of the target range and the closest to the top since December, when the Fed last raised rates. For now, the move is looked on as not being especially problematic given that there is still room between the current level and the top of the 2.25% to 2.5% range in which the rate is supposed to trade.


But moves toward the upper end of the band have prompted action before, and the trend likely will be a topic of discussion at next week’s Federal Open Market Committee meeting. When the Fed first began raising rates in December 2015, it succeeded in keeping the funds rate around the midpoint of the target range. But that has changed over the past year. “At 6 basis points from the top of the range, you’re still within the target. The question becomes whether they think technical pressure is driving this,” said Lou Crandall, chief economist at Wrightson ICAP and formerly of the New York Fed. “The only concern is whether you’ll have to make a technical adjustment in the future from preventing it from going higher.”

Read more …

Fed to the rescue! Actually, as long as banks write new loans, the Fed can and will hold back.

• Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)

Home builders, the ultimate pros in the housing market, have figured out something after the malaise in the second half last year: Cut prices and buyers will come. The median selling price of new houses dropped 9.7% in March from March last year to $302,700, the Commerce Department reported this morning. This took the price back to about where it had first been in December 2014 ($301,500):

Homebuilders are motivated to move their speculative inventory. They’re making deals at lower prices, and they’re building homes at lower price points. And buyers responded. House sales at the lower end gained market share while houses at the higher end lost market share. Houses that were sold below $200,000 made up 16% of the mix in March, up from 11% in March 2018. Houses that were sold at prices of $400,000 or higher in March made up 29% of the mix, down from 32% in March 2018. This shift in the market, and the price cuts by homebuilders, has pushed the median new house price down 11.8% from the peak in December 2017. The year-over-year price drops starting in November last year were the sharpest such drops since Housing Bust 1:

The new-house sales data, produced jointly by the Census Bureau and the Department of Housing and Urban Development, is volatile. It is revised in the following months, often quite drastically. But after a while, the trends become clear. For the long-term view: The median price of new houses ballooned by about 55% from the range in 2011 and 2012 to the peak in December 2017 ($343,300). This peak had exceeded by 31% the crazy peak of Housing Bubble 1 in March 2007. When it comes to price, the sky is not the limit:

Read more …

Give ’em a swap line.

• Chinese Banks Are Running Out Of Dollars (ZH)

Following the biggest quarterly credit injection in Chinese history, it is safe to say that China’s banks are flush with yuan loans. However, when it comes to dollar-denominated assets, it’s a different story entirely. As the WSJ points out, in the past few years, a funding problem has emerged for China’s biggest commercial banks, one which is largely outside of Beijing’s control: they’re running low on US dollars so critical to fund operations both domestically and abroad. As shown in the chart below, the combined dollar liabilities at China’s four biggest commercial banks exceeded their dollar assets at the end of 2018, a sharp reversal from just a few years ago.

Back in 2013, the four together had around $125 billion more dollar assets than liabilities, but now they owe more dollars to creditors and customers than are owed to them. The reversal is the result of just one bank: Bank of China, which for many years held more net assets in dollars than any other Chinese lender, ended 2018 owing $72 billion more in dollar liabilities than it booked in dollar assets. The other “top 3” lenders finished the year with more dollar assets than liabilities, even though their net dollar surplus has shrunk substantially in the past five years.

And yet, as everything else with China, there is more than meets the eye: as the WSJ reports looking at Bank of China’s annual report, the bank’s asset-liability imbalance is more than addressed by dollar funding that doesn’t sit on its balance sheet. Instruments like currency swaps and forwards are accounted for elsewhere. This is reminiscent of the shady operations discussed recently involving Turkey’s FX reserves, where the central bank has been borrowing dollar assets from local banks via off balance sheet swaps, which it then used to prop up and boost the lira at a time of aggressive selling of the local currency. It is safe to assume that the PBOC has been engaging in a similar operation.

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Hmmm. Hillary says: “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what.

But as I said yesterday, that is precisely what Nadler appears to do: “I do think, if proven – which hasn’t been proven yet – if proven, some of this would be impeachable, yes,” Nadler said..”

At best awfully close.

• Hillary Outlines “Roadmap” To Trump Impeachment (ZH)

Just hours after Nancy Pelosi attempted to mend the gaping division between the realists and the extremists in her party, failed presidential candidate Hillary Clinton decided to pile into the impeachment debate with her own take on the Mueller Report. “Well, I think what Nancy means, and I agree with what she means, is that it shouldn’t be a preordained conclusion, it shouldn’t be what you do for partisan, political purposes almost outside the framework of the Constitution,” she said during an appearance at the Time 100 Summit in New York. “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what, which is what happened in ’99. Instead, you say we are going to proceed with the seriousness that this demands.”

Dripping with irony, Clinton – whose husband was impeached by the House of Representatives in 1998 for perjury and obstruction of justice (only to be acquitted the following year by the Senate), and allegedly used her position to gain personal wealth through pay-to-play peddling of her and her husband’s influence – discuss the roadmap to President Trump’s impeachment and said he should have been indicted. “I have a kind of weird personal history about impeachment,” Clinton said to laughter from the audience. But, “not what you’re thinking,” she added, referring to her time as a staff attorney serving on the impeachment inquiry for former President Richard Nixon two decades earlier in 1974.

“I was one of the young lawyers who actually drafted the memo about what is a high crime and misdemeanor, and it was truly meant by our founders to describe actions that undermine the integrity of our government that placed the personal or political interest in a president over the interest of the nation,” she said.

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It makes no difference where you stand on the issue(s), this is what you will have to deal with going forward. First off, the Horowitz report next month: “he intends to make criminal referrals as a result of his investigation.”

• The Conspiracy Against Trump (Giraldi)

Whether the Mueller report is definitive very much depends on the people they chose to interview and the questions they chose to ask, which is something that will no doubt be discussed for the next year if not longer. Beyond declaring that the Trump team did not collude with Russia, it cast little light on the possible Deep State role in attempting to vilify Trump and his associates. The investigation of that aspect of the 2016 campaign and the possible prosecutions of former senior government officials that might be a consequence of the investigation will likely be entertaining conspiracy theorists well into 2020. Since Russiagate has already been used and discarded the new inquiry might well be dubbed Trumpgate.

The media has scarcely reported how Michael Horowitz, the Inspector General of the Department of Justice (DOJ), has been looking into the activities of the principal promoters of the Russiagate fraud. Horowitz, whose report is expected in about a month, has already revealed that he intends to make criminal referrals as a result of his investigation. While the report will only cover malfeasance in the Department of Justice, which includes the FBI, the names of intelligence officers involved will no doubt also surface. It is expected that there will be charges leading to many prosecutions and one can hope for jail time for those individuals who corruptly betrayed their oath to the United States Constitution to pursue a political vendetta.

A review of what is already known about the plot against Trump is revealing and no doubt much more will be learned if and when investigators go through emails and phone records. The first phase of the illegal investigation of the Trump associates involved initiating wiretaps without any probable cause. This eventually involved six government intelligence and law enforcement agencies that formed a de facto task force headed by the CIA’s Director John Brennan. Also reportedly involved were the FBI’s James Comey, Director of National Intelligence James Clapper, Attorney General Loretta Lynch, Department of Homeland Security Director Jeh Johnson, and Admiral Michael Rogers who headed the National Security Agency.

Brennan was the key to the operation because the Foreign Intelligence Surveillance Act (FISA) court refused to approve several requests by the FBI to initiate taps on Trump associates and Trump Tower as there was no probable cause to do so but the British and other European intelligence services were legally able to intercept communications linked to American sources. Brennan was able to use his connections with those foreign intelligence agencies, primarily the British GCHQ, to make it look like the concerns about Trump were coming from friendly and allied countries and therefore had to be responded to as part of routine intelligence sharing. As a result, Paul Manafort, Carter Page, Donald Trump Jr., Jared Kushner and Gen. Michael Flynn were all wiretapped. And likely there were others. This all happened during the primaries and after Trump became the GOP nominee.

Read more …

I don’t see any common ground here that could lead to a solution. The country’s split right down the middle.

• Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)

Theresa May has accused Labour of dragging its heels in the bid to find a cross-party compromise to deliver Brexit, even before the talks resumed after Easter. “The discussions with Labour have been serious but had also been difficult in some areas, such as in relation to the timetable for the negotiations,” the prime minister told her cabinet. No 10 fears Jeremy Corbyn does not share Ms May’s desire to avoid next month’s European parliament elections – which would require an agreement within days. The criticism is striking because it is the first time the government has turned on Labour since approaching the opposition three weeks ago.


Until now, it has been Mr Corbyn’s party that has blamed the prime minister for the lack of progress, accusing her of refusing to shift on her red lines – in particular, membership of a customs union. The cabinet discussion took place even before the talks resumed on Tuesday afternoon – but after a failure to hold any meaningful negotiations last week. Ms May’s spokesman told journalists: “The PM said the discussions with Labour had been serious, but had also been difficult in some areas, such as in relation to the timetable for the negotiations. “The PM said that the government’s position was that progress needed to be made urgently as it was vital to deliver on the result of the referendum and for the UK to leave the European Union as soon as possible.”

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They knew that before agreeing to the talks.

• Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)

Labour has accused Theresa May of failing to offer any substantive changes to her Brexit deal in cross-party talks, as Downing Street’s hopes of a breakthrough in time to avoid taking part in European parliamentary elections waned. Brexit talks resumed on Tuesday between a team of ministers and shadow ministers. But Labour sources said the government team again appeared unwilling to countenance changes to the political declaration, which sets out the UK’s future relationship with the EU. Instead, ministers offered alternative ways of giving reassurance about the issues Labour has raised, such as on environmental standards and workers’ rights, including through redrafting the withdrawal act implementation bill (WAB) and tweaking separate planned government bills.


Downing Street continues to insist that it hopes to secure parliamentary ratification of a Brexit deal in time to avoid the UK having to participate in next month’s European parliament elections. The government has been considering tabling the WAB as a way of breaking the Brexit deadlock, but Labour has rejected the idea. “There’s a sequence; you have got to start with a different deal,” said a source. After the talks, Jeremy Corbyn blamed the government’s refusal to compromise on central issues such as membership of a customs union for the failure to make significant progress. “We’ll continue putting our case but quite honestly there’s got to be change in the government’s approach. They cannot keep on just regurgitating what has already been emphatically rejected three times by parliament, there’s got to be a change,” Corbyn said.

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They should get Theresa May and Boris Johnson cancelled. Hypocrites.

• UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)

Theresa May has been criticised for allowing Donald Trump to make a state visit in June for D-day commemorations, with MPs orchestrating a campaign to stop the US president addressing parliament. Labour said it “beggars belief” that the government is offering the red-carpet treatment to Trump given his attacks on British and American values. Backbenchers began gathering signatures for a petition aiming to force the cancellation of the trip. The three-day trip starting on 3 June was confirmed by Buckingham Palace and the White House on Tuesday. The initial invitation was extended soon after Trump took office but a planned state visit in 2018, with all its pomp and ceremony, was downgraded to an official visit amid security concerns.


This time, Trump is likely to dine with the Queen, attend discussions with May in Downing Street and join an event in Portsmouth to mark the D-day landings. No 10 said the D-day event would be “one of the greatest British military spectacles in recent history” and would include a flypast of 26 types of RAF aircraft and at least 11 Royal Navy ships in the Solent. May said the visit would emphasise that the UK and US “have a deep and enduring partnership that is rooted in our common history and shared interests”. “We do more together than any two nations in the world and we are both safer and more prosperous because of our cooperation,” May said. “The state visit is an opportunity to strengthen our already close relationship in areas such as trade, investment, security and defence, and to discuss how we can build on these ties in the years ahead.”

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Promises to be a good series. But who will pay attention?

• The Revelations of WikiLeaks: No. 1 (CN)

WikiLeaks was founded in 2006, but it was the April 5, 2010, publication of “Collateral Murder” that made the whistleblower-publisher a world-wide phenomenon, attracting admirers and enemies. WikiLeaks wrote of the film: “The video, shot from an Apache helicopter gun-sight, clearly shows the unprovoked slaying of a wounded Reuters employee and his rescuers. Two young children involved in the rescue were also seriously wounded.” WikiLeaks noted that Reuters had unsuccessfully attempted to gain access to the video through the Freedom of Information Act in the years after the strike. The day after the release of the footage, The New York Times described WikiLeaks as a once-fringe website that had moved into the big time.

“The site has become a thorn in the side of authorities in the United States and abroad,” it said. “With the Iraq attack video, the clearinghouse for sensitive documents is edging closer toward a form of investigative journalism and to advocacy.” Before 2010 WikiLeaks received a few high-profile journalism awards. But in the years since the publication of the video, it has received a slew of honors, including The Sam Adams Award for Integrity. On April 16, WikiLeaks announced a fresh award for its founder, Julian Assange, even as he remains isolated in a London prison. “Collateral Murder” was one of the most prominent releases sourced from then-Army intelligence analyst Chelsea Manning, who served seven years in a military prison as a result.

Manning, who had access to the video, having a Top Secret clearance, first offered the video to The New York Times and The Washington Post, which both turned her down. Manning then turned to WikiLeaks. Manning described the events that led up to her decision to submit the footage to the press in leaked audio of her testimony during her 2013 court-martial. She said Reuters’ inability to get the footage via a freedom-of-information request contributed to her decision to leak it. “The most alarming aspect of the video for me, was the seemingly delight of bloodlust they [the pilots] appeared to have. They dehumanized the individuals they were engaging with, and seemed to not value human life in referring to them as ‘dead bastards,’ and congratulating each other on the ability to kill in large numbers.”

Marjorie Cohn, a legal analyst, is one of those who has described the contents of the footage as evidence of U.S. war crimes. As such she argues that Manning was legally obligated to expose such information. In a 2013 column for Truthout, she cites the Geneva Conventions, the Army Field Manual and the Uniform Code of Military Justice as all setting forth the duty of a service member to disobey unlawful orders. None of the pilots, military officials nor policy-makers have ever been charged or otherwise held responsible for the events shown in the video.

Read more …

 

 

Debt Rattle April 13 2019

Apr 132019
 
 April 13, 2019  Posted by at 9:30 am Finance Tagged with: , , , , , , , , , , ,  4 Responses »


Pablo Picasso Standing nude 1928

 

• The Assange Arrest Is a Warning From History (John Pilger)
• The 7 Years Of Lies About Assange Won’t Stop Now (Cook)
• UK MPs Want Assange Extradited To Sweden (G.)
• Labour Urges PM To Block Julian Assange Extradition To US (G.)
• Assange’s ‘Conspiracy’ to Expose War Crimes Has Already Been Punished (Fair)
• Cascading Cat Litter (Jim Kunstler)
• Is Julian Assange Another Pentagon Papers case? (Alan Dershowitz)
• Facebook Removes Page of Rafael Correa on Same Day as Assange’s Arrest (MU)
• Second Brexit Referendum Vote ‘Very Likely’ – Philip Hammond (Ind.)
• What Went Wrong With Pensions And Why The Whole World Must Be Worried (Rubino)
• Italy’s Fiscal Health Is Once Again In Serious Decline (DQ)
• Uber Discloses 3-Yr $10-Billion Loss from Operations (WS)

 

 

“Imagine Tony Blair dragged from his multi-million pound Georgian home in Connaught Square, London, in handcuffs [..] Blair’s “paramount crime” is the deaths of a million Iraqis.”

• The Assange Arrest Is a Warning From History (John Pilger)

The glimpse of Julian Assange being dragged from the Ecuadorean embassy in London is an emblem of the times. Might against right. Muscle against the law. Indecency against courage. Six policemen manhandled a sick journalist, his eyes wincing against his first natural light in almost seven years. That this outrage happened in the heart of London, in the land of Magna Carta, ought to shame and anger all who fear for “democratic” societies. Assange is a political refugee protected by international law, the recipient of asylum under a strict covenant to which Britain is a signatory. The United Nations made this clear in the legal ruling of its Working Party on Arbitrary Detention.

But to hell with that. Let the thugs go in. Directed by the quasi fascists in Trump’s Washington, in league with Ecuador’s Lenin Moreno, a Latin American Judas and liar seeking to disguise his rancid regime, the British elite abandoned its last imperial myth: that of fairness and justice. Imagine Tony Blair dragged from his multi-million pound Georgian home in Connaught Square, London, in handcuffs, for onward dispatch to the dock in The Hague. By the standard of Nuremberg, Blair’s “paramount crime” is the deaths of a million Iraqis. Assange’s crime is journalism: holding the rapacious to account, exposing their lies and empowering people all over the world with truth.

The shocking arrest of Assange carries a warning for all who, as Oscar Wilde wrote, “sew the seeds of discontent [without which] there would be no advance towards civilisation”. The warning is explicit towards journalists. What happened to the founder and editor of WikiLeaks can happen to you on a newspaper, you in a TV studio, you on radio, you running a podcast. Assange’s principal media tormentor, the Guardian, a collaborator with the secret state, displayed its nervousness this week with an editorial that scaled new weasel heights. The Guardian has exploited the work of Assange and WikiLeaks in what its previous editor called “the greatest scoop of the last 30 years”. The paper creamed off WikiLeaks’ revelations and claimed the accolades and riches that came with them.

With not a penny going to Julian Assange or to WikiLeaks, a hyped Guardian book led to a lucrative Hollywood movie. The book’s authors, Luke Harding and David Leigh, turned on their source, abused him and disclosed the secret password Assange had given the paper in confidence, which was designed to protect a digital file containing leaked US embassy cables. With Assange now trapped in the Ecuadorean embassy, Harding joined the police outside and gloated on his blog that “Scotland Yard may get the last laugh”. The Guardian has since published a series of falsehoods about Assange, not least a discredited claim that a group of Russians and Trump’s man, Paul Manafort, had visited Assange in the embassy. The meetings never happened; it was fake.

Read more …

We just get more. But it’s what NOT being said that reveals more.

• The 7 Years Of Lies About Assange Won’t Stop Now (Cook)

For seven years, from the moment Julian Assange first sought refuge in the Ecuadorean embassy in London, they have been telling us we were wrong, that we were paranoid conspiracy theorists. We were told there was no real threat of Assange’s extradition to the United States, that it was all in our fevered imaginations. For seven years, we have had to listen to a chorus of journalists, politicians and “experts” telling us that Assange was nothing more than a fugitive from justice, and that the British and Swedish legal systems could be relied on to handle his case in full accordance with the law. Barely a “mainstream” voice was raised in his defence in all that time.

From the moment he sought asylum, Assange was cast as an outlaw. His work as the founder of Wikileaks – a digital platform that for the first time in history gave ordinary people a glimpse into the darkest recesses of the most secure vaults in the deepest of Deep States – was erased from the record. Assange was reduced from one of the few towering figures of our time – a man who will have a central place in history books, if we as a species live long enough to write those books – to nothing more than a sex pest, and a scruffy bail-skipper. The political and media class crafted a narrative of half-truths about the sex charges Assange was under investigation for in Sweden.

They overlooked the fact that Assange had been allowed to leave Sweden by the original investigator, who dropped the inquiry, only for it to be revived by another investigator with a well-documented political agenda. They failed to mention that Assange was always willing to be questioned by Swedish prosecutors in London, as had occurred in dozens of other cases involving extradition proceedings to Sweden. It was almost as if Swedish officials did not want to test the evidence they claimed to have in their possession. [..] It was a freedom of information request by an ally of Assange, not a media outlet, that unearthed documents showing that Swedish investigators had, in fact, wanted to drop the case against Assange back in 2013. The UK, however, insisted that they carry on with the charade so that Assange could remain locked up. A British official emailed the Swedes: “Don’t you dare get cold feet!!!”

Read more …

There’s some confusion here. Some say because Sweden dropped charges, the US is now first in line. Others deny this.

• UK MPs Want Assange Extradited To Sweden (G.)

Political pressure is mounting on Sajid Javid to prioritise action that would allow Julian Assange to be extradited to Sweden, amid concerns that US charges relating to Wikileaks’ activities risked overshadowing longstanding allegations of rape. More than 70 MPs and peers have written to Javid and the shadow home secretary, Diane Abbott, urging them to focus attention on the earlier Swedish investigations that Assange would face should the case be resumed at the alleged victim’s request.


In a letter coordinated by Labour’s Stella Creasy and Jess Phillips and seen by the Guardian, the MPs declare: “We do not presume guilt, of course, but we believe due process should be followed and the [Swedish] complainant should see justice be done.” They call on Javid and Abbott to “champion action” to ensure that extradition is a possibility should Swedish authorities choose to pursue it. Assange first entered the Ecuadorian embassy in 2012 in order to avoid extradition to Sweden over sexual assault allegations, which he has always denied. While the statute of limitations on one of the allegations has expired, the other will not be reached until August 2020.

Read more …

May did it before in 2012, but I understand laws have changed since. Labour better make sure that block counts.

• Labour Urges PM To Block Julian Assange Extradition To US (G.)

The shadow home secretary, Diane Abbott, has urged Theresa May to block the extradition of Julian Assange to the US in the same way she intervened in the case of the computer hacker Gary McKinnon. In 2012, as home secretary, May halted McKinnon’s extradition on human rights grounds after doctors warned he was at risk of suicide if sent to face trial in the US. Abbott said similar grounds should be used to block Assange’s extradition. On Thursday, the Wikileaks founder was arrested on behalf of the US authorities, who have charged him with involvement in a computer hacking conspiracy.

The 47-year-old faces up to 12 months in a British prison after he was found guilty of breaching his bail conditions. The US charge could attract a maximum jail sentence of five years, according to the US Department of Justice. Speaking on BBC Radio 4’s Today programme on Friday, Abbott said: “If you remember the Gary McKinnon case, the Americans insisted on extraditing him. He had done this massive computer hack, but his real crime was to have embarrassed the American military and security service. “In the end the then home secretary, Theresa May, blocked his extradition on what she said were human rights grounds. We think there may be human rights grounds in relation to Assange.”

Abbott described the allegations facing Assange from two women in Sweden as “serious”, but said charges were never brought. She said: “If the Swedish government wants to come forward with those charges I believe that Assange should face the criminal justice system.” But she added: “It is not the rape charges, serious as they are, it is about WikiLeaks and all of that embarrassing information about the activities of the American military and security services that was made public. “He is at the very least a whistleblower and much of the information that he brought into the public domain, it could be argued, was very much in the public interest.”

[..] “It is this whistleblowing into illegal wars, mass murder, murder of civilians and corruption on a grand scale, that has put Julian Assange in the crosshairs of the US administration. “It is for this reason that they have once more issued an extradition warrant against Mr Assange.” In response, the home secretary, Sajid Javid, said: “Why is it whenever someone has a track record of undermining the UK and our allies and the values we stand for, you can almost guarantee that the leadership of the party opposite will support those who intend to do us harm? You can always guarantee that from the party opposite.”

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“The point of journalism is to expose horrific crimes like this so that the powerful people who order them pay legal consequences, not the ones who expose them.”

• Assange’s ‘Conspiracy’ to Expose War Crimes Has Already Been Punished (Fair)

In 2010, the Guardian, like the New York Times and a few other corporate newspapers, briefly partnered with WikiLeaks to publish the contents of thousands of confidential US diplomatic cables, known as Cablegate. That year, WikiLeaks released other confidential US government information as well: the Afghanistan War Logs, the Iraq War Logs, the infamous “Collateral Murder” video. The material exposed atrocities perpetrated by the US military, as well as other disgraceful acts—like US diplomats strategizing on how to undermine elected governments out of favor with Washington, spying on official US allies and bullying poor countries into paying wildly exorbitant prices for life-saving drugs.

One US soldier involved in the “collateral murder” airstrike that Manning and Assange exposed, Ethan McCord, was threatened and reprimanded by a superior officer for requesting psychiatric help after the atrocity. (“Get the sand out of your vagina,” he was reportedly told.) McCord had tended to wounded children during the massacre. He was soon expelled from the military, apparently now “unsuited” for it. The point of journalism is to expose horrific crimes like this so that the powerful people who order them pay legal consequences, not the ones who expose them. Presumably that is why “press freedom” is considered important, and why it’s guaranteed by the First Amendment.

The law should have protected Manning from punishment, the same way it protects somebody who uses violence in justifiable self-defense or in defense of others. In Manning’s case, that was especially true, because she exposed grave crimes while stationed in Iraq, as the US perpetrated an even higher-level crime—a war of aggression based on a fraudulent pretext. If the law should have protected Manning, who was at the very heart of the “conspiracy” to expose gruesome crimes, then it obviously should protect Assange, and any of the outlets that worked with him.

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“I’d like to see The New York Times’s front page headline on that story: Russian Colluder Wins Nobel Prize, Put on Trial in Federal Court.”

• Cascading Cat Litter (Jim Kunstler)

And so now Julian Assange of Wikileaks has been dragged out of his sanctuary in the London embassy of Ecuador for failing to clean his cat’s litter box. Have you ever cleaned a litter box? The way we always did it was to spread some newspaper — say, The New York Times — on the floor, transfer the used cat litter onto it, wrap it into a compact package, and put it in the trash. It was interesting to scan the Comments section of The Times’s stories about the Assange arrest: Times readers uniformly presented themselves as a lynch mob out for Mr. Assange’s blood. So much for the spirit of liberalism and The Old Gray Lady who had published The Pentagon Papers purloined by Daniel Ellsberg lo so many years ago.

Reading between the lines in that once-venerable newspaper — by which I mean gleaning their slant on the news — one surmises that The Times has actually come out against freedom of the press, a curious attitude, but consistent with the neo-Jacobin zeitgeist in “blue” America these days. Anyway, how could anyone expect Mr. Assange to clean his cat’s litter box when he was unable to go outside his sanctuary to buy a fresh bag of litter, and was denied newspapers this past year, as well as any other contact with the outside world? US government prosecutors had better tread lightly in bringing Mr. Assange to the sort of justice demanded by readers of The New York Times — which is to say: lock him up in some SuperMax solitary hellhole and throw away the key. The show trial of Julian Assange on US soil, when it comes to pass, may end up being the straw that stirs America’s Mickey Finn as a legitimate republic.

The bloodthirsty hysteria among New York Times readers is a symptom of the mass confusion sown by agencies of the US government itself when its own agents ventured to meddle in the national election of 2016 and then blame it on “the Russians.” As you will learn in the months ahead, it was The Times itself, and other corporate news organizations, who colluded with officers of the FBI, the Department of Justice, the CIA, and the Obama White House to concoct a phony narrative about Mr. Trump being in cahoots with Vladimir Putin, thus depriving Hillary Clinton of her “turn” in the White House; and then to join those agencies, and the grotesquely dishonest two-year investigation of Special Counsel Robert Mueller, in a cover-your-ass operation to hide their nefarious and criminal acts.

In the meantime, Mr. Assange may receive a Nobel Prize as a symbol of a lone conscience standing up against the despotic deceits of the world’s deep states. Wouldn’t that gum up the works nicely? I’d like to see The New York Times’s front page headline on that story: Russian Colluder Wins Nobel Prize, Put on Trial in Federal Court. By then, the United States of America will be so completely gaslighted that it will pulsate in the darkness like a death star about to explode.

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Michael Malice on Twitter: “Let’s be clear: Julian Assange is not a journalist.
He uncovered and released information that the political establishment and government wanted to stay hidden.
Does that sound like the work of a journalist?”

• Is Julian Assange Another Pentagon Papers case? (Alan Dershowitz)

Before WikiLeaks founder Julian Assange gained asylum in the Ecuadorian embassy in London in 2012, he and his British legal team asked me to fly to London to provide legal advice about United States law relating to espionage and press freedom. I cannot disclose what advice I gave them, but I can say that I believed then, and still believe now, that there is no constitutional difference between WikiLeaks and the New York Times. If the New York Times, in 1971, could lawfully publish the Pentagon Papers knowing they included classified documents stolen by Rand Corporation military analyst Daniel Ellsberg from our federal government, then indeed WikiLeaks was entitled, under the First Amendment, to publish classified material that Assange knew was stolen by former United States Army intelligence analyst Chelsea Manning from our federal government.

So if prosecutors were to charge Assange with espionage or any other crime for merely publishing the Manning material, this would be another Pentagon Papers case with the same likely outcome. Many people have misunderstood the actual Supreme Court ruling in 1971. It did not say that the newspapers planning to publish the Pentagon Papers could not be prosecuted if they published classified material. It only said that they could not be restrained, or stopped in advance, from publishing them. Well, they did publish, and they were not prosecuted.

[..] the problem with the current effort is that, while it might be legally strong, it seems on the face of the indictment to be factually weak. It alleges that “Assange encouraged Manning to provide information and records” from federal government agencies, that “Manning provided Assange with part of a password,” and that “Assange requested more information.” It goes on to say that Assange was “trying to crack the password” but had “no luck so far.” Not the strongest set of facts here!

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Nice going, Zuck.

• Facebook Removes Page of Rafael Correa on Same Day as Assange’s Arrest (MU)

Facebook has unpublished the page of Ecuador’s former president, Rafael Correa, the social media giant confirmed on Thursday, claiming that the popular leftist leader violated the company’s security policies.[..] In March, WikiLeaks published a tranche of documents dubbed the INA Papers linking President Lenin Moreno to the INA Investment Corporation, an offshore shell company used by Moreno to procure furniture, property, and various luxury items. The account number for the offshore account allegedly used by the president to launder money was shared across Ecuadorean social networks by netizens of all political stripes, including by Correa – who had about 1.5 million followers and whose Facebook page enjoyed more interactions and attention than that of President Moreno himself.


[..] The removal of Correa’s page for violating Facebook’s “community standards” is an unprecedented move, and the former statesman is the most high-profile public political figure to ever be removed from the social platform–placing the economist and icon of Latin American “socialism of the 21st century” in the same unlikely category as right-wing conspiracy theorist and broadcaster Alex Jones.

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What would that solve?

• Second Brexit Referendum Vote ‘Very Likely’ – Philip Hammond (Ind.)

A second referendum on Brexit is “very likely” to be put before parliament, Philip Hammond has said. Speaking in Washington on Friday, the chancellor said a fresh public vote was a “proposition that could and, on all the evidence, is very likely to be put to parliament at some stage”. However, he also said about six months would be needed to hold a referendum, and that there would not be enough time before Britain is due to leave the EU on the new deadline of 31 October. Mr Hammond also stressed that the government was still opposed to a second referendum, although he said other Labour demands – such as a customs union with the EU – were up for debate.


“The government’s position has not changed,” he said. “The government is opposed to a confirmatory referendum and therefore we would not be supporting it.” The idea of a new referendum was among several Brexit alternatives to Theresa May’s deal that were put to lawmakers in the last month – but which all fell short of a majority in parliament. The prime minister has so far failed to get her own party behind the Brexit divorce deal she agreed with other European Union leaders last year. She was forced to ask the bloc for a delay and to start talks with Labour about how to break the impasse in parliament.

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It says a lot about the human attention span that this doesn’t receive a lot more scrutiny.

This is where Fed policies will be found to have hurt people most.

• What Went Wrong With Pensions And Why The Whole World Must Be Worried (Rubino)

As baby boomer teachers, police and firefighters retire, the required pension payouts are soaring. Combine this with inadequate contributions, and the liabilities of major U.S. public pensions are up 64% since 2007 while assets are up only 30%. This math is simple enough for even a politician or fund trustee to grasp, but because there’s no immediate penalty for underfunding a pension system, it has become normal practice in a long list of places. Another, related problem is also mathematical, but it’s harder to manage in a boom-and-bust world: When pension plans suffer a big loss, as they tend to do in bear markets, the next few years’ returns have to go towards making up that loss before plan assets can start growing again. The following chart, from a recent Wall Street Journal article, shows pension fund assets falling behind in the past two bear markets and having increasing trouble catching up with steadily-growing liabilities.

In some cases this puts funds permanently behind the curve and can only be fixed with massive infusions of taxpayer cash or draconian benefit cuts, neither of which are feasible in a system that punishes hard choices. The next chart shows how much more the worst offenders would have to contribute to their plans to get by with honest future return assumptions. For Illinois, Kentucky and New Jersey this will never happen.

What does all this mean? A few things: In the next bear market the pension funds that are already wildly underfunded will fall into a financial black hole from which they’ll never be able to escape. Those states and cities – many of which are issuing bonds to cover their day-to-day expenses – will be exposed as junk credits (as Chicago was recently) and will have to either pay way up to borrow or enact some combination of tax increases (politically almost impossible) or pension benefit cuts (legally impossible in many places) which will cause chaos without fixing the underlying problem. The weakest cities and the states in which they reside will be forced to default on some of their obligations, stiffing suppliers, creditors, and/or employees.


This will throw the municipal bond market into chaos as investors, worried that the next Chicago is lurking in their portfolios, dump the whole muni sector. Faced with a cascade failure of a crucial part of the fixed income universe, the federal government will react the way it did when the mortgage market imploded in 2008, with a massive taxpayer funded bailout. At which point there’s a good chance of the crisis spreading from pensions to currencies, as the world finally realizes that the bailouts are just beginning, with US states and cities soon to be followed by student loans, emerging markets, and European failed states.

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Drip. Drip.

• Italy’s Fiscal Health Is Once Again In Serious Decline (DQ)

On Wednesday, Italy’s coalition government slashed its growth forecast for the Italian economy in 2019 to 0.2% – the weakest forecast in the Eurozone – from a previous forecast of 1%. Italy is already in a technical recession after chalking up two straight quarters of negative GDP growth in the second half of 2018. The government’s budget for this year was based on the assumption that the economy would expand by 1% this year. Now, it seems the economy may not grow at all; it could even shrink. One direct result of this is that Italy’s current account deficit for 2019 will be substantially higher than the 2.04% of GDP Italy’s government pledged to stick to late last year. And that can mean only thing: another standoff between Rome and Brussels over the direction of fiscal policy is in the offing.

Italy already boasts the largest public debt pile in Europe in nominal terms, clocking in at €2.14 trillion, as well as the second largest in relative terms after Greece’s twice bailed out economy. Rome just forecast that public debt would hit a new record high of 132.6% of GDP this year. That record is unlikely to last very long given Italy’s stagnating economy and the government’s determination to cut taxes, reduce the retirement age and introduce a citizens’ basic income.

The biggest problem with Italy’s economy is that many of its problems are chronic and deep seated. Many of them date back to the adoption of the euro, in 2000, or in the case of Rome’s massive addiction to public debt, to the 1980s. As the OECD points out, real GDP in Italy is still well below its pre-crisis peak. Italy is also the only OECD country where incomes (as measured by GDP per capita) are no higher than in 2000. By contrast, in France, Spain, the UK and Germany they have risen during the same period by 13%, 17%, 21% and 23 respectively.

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Now imagine this WITHOUT interest rates at record lows. What was once a market has now turned into a slot machine.

• Uber Discloses 3-Yr $10-Billion Loss from Operations (WS)

Uber Technologies’ IPO filing was made public today. The 330-page or so S-1 filing disclosed all kinds of goodies, including detailed but still unaudited pro-forma financial statements as of December 31, 2018, huge losses from operations, big tax benefits, large gains from the sale of some operations, stagnating rideshare revenues, and an enormous list of chilling “Risk Factors” that go beyond the usual CYA. The filing, however, didn’t disclose the share price, the IPO valuation, and how much money the IPO will raise for Uber. On Tuesday, “people familiar with the matter” had told Reuters that Uber plans to raise $10 billion in the IPO. Most of the IPO shares would be sold by the company to raise funds, and a smaller amount would be sold by investors cashing out, the sources said.


The filing did not confirm this and instead left blanks or used placeholder amounts. But if true, $10 billion in shares sold would make this IPO one of the biggest tech IPOs. And the rumored $90 billion to $100 billion valuation would make it the biggest since Alibaba’s $169 billion IPO. Uber will need every dime it raises in the IPO going forward because it’s got a little cash-burn situation in its operations that persists going forward, as it admitted in its “Risk Factors,” and it will need to raise more money, and if it cannot raise more money, it might not make it. Uber is upfront about this. The company has already raised – and mostly burned through – over $20 billion so far in its 10 years of existence. This includes $15 billion in equity funding and over $6 billion in debt.

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Debt Rattle August 14 2017

Aug 142017
 
 August 14, 2017  Posted by at 8:59 am Finance Tagged with: , , , , , , ,  1 Response »


August Strindberg Alpine Landscape I 1894

 

• Multiple Contraction : Stock Market Warning Siren is Blaring (WS)
• Is The Euro Crisis Really Over? (Lacalle)
• US Is The Real Trade Protectionist – China State Media (CNBC)
• Fourth Turning: “It’s Going To Be A Rollercoaster Ride” (ZH)
• Conspiracy or Chaos? (Jim Quinn)
• Forget GDP – There’s More To Britain’s Wealth Than Its Bank Balance (Baggini)
• Factory Farming, Antibiotics Use In Asia Creating Global Health Risks (G.)
• More NGOs Follow MSF In Suspending Mediterranean Migrant Rescues (R.)
• Syrian Refugees Can Return To Aleppo… And Do So In Their 100,000s (RT)
• Do Elephants Have Souls? (NA)

 

 

Creative accounting is subject to inherent limits.

• Multiple Contraction : Stock Market Warning Siren is Blaring (WS)

“Adjusted” earnings growth is 10.2% year-over-year in the second quarter, according to FactSet, based on the 91% of the companies in the S&P 500 that have reported results. The energy sector was a key driver, with 332% “adjusted” earnings growth from the oil-bust levels of a year ago. The sectors with double-digit earnings growth: information technology (14.7%), utilities (10.8%), and financials (10.3%). The rest were single digit. Earnings in the consumer discretionary sector declined. Revenues grew 5.1%, also led by the energy sector. At the beginning of Q2 last year, the WTI grade of crude oil traded at $35 a barrel. In Q2 this year, WTI ranged from $42 to $53 a barrel.

So the Wall-Street hype machine is cranking at maximum RPM to propagate the great news that earnings are soaring, and that this is the reason why stocks should also be soaring, and forget everything else. The hype machine carefully avoids showing the bigger picture which is dismal for earnings and ludicrous for stock valuations. Aggregate earnings per share (EPS) for the S&P 500 companies on a trailing 12-months basis rose for the second quarter in a row. That’s the foundation of the Wall Street hype. But here’s the thing with these EPS: they’re now back where they had been in… May 2014. Yep. More than three years of earnings stagnation. No growth whatsoever, even for “adjusted” earnings. In fact, on a trailing 12-month basis, aggregate EPS of the S&P 500 companies are down about 5% from their peak in Q4 2014.

And yet, over the same three-plus years of total earnings stagnation, the S&P 500 index has soared 34%. This chart shows those “adjusted” earnings per share for the S&P 500 companies (black line) and the S&P 500 index (blue line). I marked August 2012 as the point five years ago, and May 2014. And these are not earnings under the Generally Accepted Accounting Principles (GAAP). FactSet uses “adjusted” earnings for its analyses. These are the earnings with the bad stuff “adjusted” out of them by management to manipulate earnings into the most favorable light. Not all companies report “adjusted” earnings. Some only report GAAP earnings and live with the consequences. But others put adjusted earnings into the foreground, and that’s what Wall Street dishes up.

[..] This is the peculiar situation of today: On average, these companies have stagnating earnings per share propped up by “adjusting” these earnings and by financial engineering. The price-earnings multiple (P/E ratio) for stagnating companies should be low. In January 2012, the P/E ratio for the companies in the S&P 500 index was 14.9. And that was high. As of Friday, the aggregate P/E ratio is 24.3:

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Brussels keeps Europe from recovering. A continent of zombies.

• Is The Euro Crisis Really Over? (Lacalle)

This week we have read that Brussels has certified “the end of the crisis”. In an uncomfortably triumphant statement, the group welcomed the fact that Europe had emerged from the crisis and returned to growth “thanks to the decisive action of the European Union”. Really? Thanks to the “decisive action” of the European Union the “economy is back in shape”? It is true that the communique says that “much remains to be done to overcome the legacy of the crisis years”, but if we can say something about the European crisis is that the “decisive” action of the European Union has not helped to end the crisis, but has perpetuated and silenced it. The European economy is not “in shape”.

According to the Bank of International Settlements and Merrill Lynch, Europe has more zombie companies today than before the crisis, 9% of large listed non-financial corporations are considered walking dead, ie generating operating profits that do not cover their financial costs, in spite of all-time low-interest rates and an unprecedented monetary stimulus. And that is among the big companies, where the business results of the Eurostoxx remain below 2008. If we go to SMEs, the European Union has higher rates of bankruptcies and losses than in 2008, yet the tax burden on companies has increased. In fact, if anything can be said of the European business fabric is that it has been devastated by taxes.

The European Union has continued to hamper the high-productivity sectors to support the so-called national champions and zombies, that large amount of low-value added conglomerates, ridden by high debt and poor margins. While the United States saw the astronomical takeoff of technology giants and corporate profits growing at double digit rates, the EU decided to put obstacles to growth, and today, in the Eurostoxx 100, we have the same collection of dinosaurs that we had a decade ago. European banks, at the end of 2016, had more than €1 trillion in non-performing loans, a figure that represents 5.1% of total loans compared to 1.5% in the US or Japan. Europe has gone from financial crisis to financial crisis, and recently we have had new episodes in Italy, Spain and Portugal.

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Theory: Xi will not put up a real fight if he’s not certain he can win (Deng Xiao Ping’s stance on US).

• US Is The Real Trade Protectionist – China State Media (CNBC)

Trump is expected to issue the so-called Section 301 investigation under the 1974 Trade Act later on Monday to investigate Chinese trade practices that force U.S. firms operating in China to turn over intellectual property, multiple outlets reported. China will retaliate in such a case, said the Communist Party-linked Global Times, which is known for its nationalist slant. “The Trump administration should have second thoughts about putting pressure on China on trade and avoid a full-blown trade war,” said the newspaper, adding that the Beijing “should make use of the WTO mechanism to sue the U.S. for trade protectionism.” “The trade policies of the Trump administration have been widely criticized. Although filing a lawsuit with the WTO is time-consuming, it is highly likely that China would win,” it said.

The latest news about a U.S. probe into Chinese trade practices could lead to steep tariffs and comes as Trump is pressing for China’s cooperation in reining in North Korea’s nuclear program. “The U.S. now is walking softly and carrying a huge stick in regards to what it wants. Here, this is tactically nothing more than ‘We need your support with North Korea,’ part and parcel, that’s it. The symbolism of this is just politics and game play,” Frank Troise, managing director at SoHo Capital, told CNBC’s “The Rundown.” China has repeatedly said the two issues were not related, with the Global Times calling the link “illogical” in its Sunday night editorial. Commentaries in state media normally provide insight into government thinking beyond typically thin official statements.

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Neil Howe is an interesting voice, and that’s only partly because Steve Bannon likes his work.

• Fourth Turning: “It’s Going To Be A Rollercoaster Ride” (ZH)

[..] .. although 9/11 changed America’s attitude towards the rest of the world, I think that the stock market boom and celebrity circus that’s here in the United States really hadn’t changed very much. And I don’t think you really had a shift, a fundamental shift, in America’s perception of themselves as a people, as their own country, to a fundamental degree until 2008. Also, 2001, as we explained to many people at the time, was simply too early. Every turning starts when each generation is beginning to move into a new phase of life. Back in 2001 boomers were not yet retiring, millennials were still—maybe the first one of them was barely graduating from high school.

So, this was not what we expected. 2008 really did coincide with the generational maturity of the turning, so to speak. And I think that, in terms of the basic shift in our efficacy of the social system, I think 2008 was a bigger change.” The crisis also ushered in an era where central banks exhibit total control of markets, which has created an “artificial quality,” Howe said. “The economic emergency that occurred in 2008-2009 really catapulted us into by far the biggest economic emergency we’ve been in since the early 1930s. And, arguably, we are still living out the consequences of that with complete change in central bank policy, monetary policy, with sustaining these record low interest rates and arguable very high valuations in financial markets—almost anything pushed by that—and people still wondering how we’re going to get out from under that.

The constant discussion is when are central banks going to pull back on their balance sheets and actually go back to the old normal? So, I think there is the sense, even in this the booming markets that we see today, that there is this artificial quality: people think that there’s something wrong about this. We have not re-righted where we were. We are not letting price discovery and actual markets function the way they did before then. So, I do believe that 2008 was the beginning of a whole new regime. And I also believe that the political dysfunction, the sense of political dysfunction—created during the two turns of the Obama presidency and, obviously, also into the Trump presidency—of government completely grinding to a halt is going to have some very powerful repercussions in the years shortly to come.”

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Anarchy in the UK.

• Conspiracy or Chaos? (Jim Quinn)

Alan Moore, the renowned graphic novel writer, and author of the dystopian classic V for Vendetta, politically identifies as an anarchist. His view that all political states are an outgrowth of anarchy, with the biggest gang taking control and dictating how things will be run, is manifested in V for Vendetta. As an anarchist, you can understand why he is doubtful of conspiracy theories and an all-powerful entity controlling the world. He believes in a chaotic world competing gangs position themselves to gain power and control.

“We live in a badly developed anarchist situation in which the biggest gang has taken over and have declared that it is not an anarchist situation – that it is a capitalist or a communist situation. But I tend to think that anarchy is the most natural form of politics for a human being to actually practice.”- Alan Moore

The Guy Fawkes mask from V for Vendetta has been adopted by anarchist groups around the world, including: Anonymous, WikiLeaks, and the Occupy protestors. Moore’s positive view of the Occupy movement was based on his belief ordinary people had the right to reclaim what had been taken from them by criminal bankers. The initial impetus for the Occupy protests was the destruction of Main Street USA by Wall Street sociopaths, who not only escaped prosecution for their crimes, but were bailed out by the taxpayers they had pillaged and further enriched as captured politicians enabled them to get even bigger. Millions were evicted from their homes and lost their jobs. Middle class families have seen their real income continue to stagnate, while bankers, corporate executives, and politicians have reaped billions in bonuses, stock gains, and payoffs, provided by central bankers in their back pocket.

“I can’t think of any reason why as a population we should be expected to stand by and see a gross reduction in the living standards of ourselves and our kids, possibly for generations, when the people who have got us into this have been rewarded for it – they’ve certainly not been punished in any way because they’re too big to fail. I think that the Occupy movement is, in one sense, the public saying that they should be the ones to decide who’s too big to fail. As an anarchist, I believe that power should be given to the people whose lives this is actually affecting.” – Alan Moore

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Basic argument: technological growth beats economic growth. But why argue this using social housing and libraries?

• Forget GDP – There’s More To Britain’s Wealth Than Its Bank Balance (Baggini)

How is this possible? Because “a lot of improvements in standard of living come not through what we normally consider as growth, but through technological improvements”. This is a concrete example of real growth without what is normally understood by economic growth. If we can grasp this, we can see why the argument about whether indefinite growth is environmentally sustainable is bogus. Orthodox economics says that it is essential if the world’s worst-off are to escape their poverty. Critics argue for zero or even negative growth, claiming that this is the only way to ensure we don’t deplete the planet’s resources. Both are wrong. Real wealth is created not just by exploiting more resources and increasing society’s cash pot but by exploiting the same or fewer resources better.

The whole question of GDP growth is a red herring if we are interested in real wealth. What matters is that we do more with the resources we have. Building a better future depends on seeing this clearly. Take the need to reduce inequality, which many now accept is urgent. To do this it is assumed we need to reduce the income gap between rich and poor. But real equality is increased simply by making it possible for the less well-off to do more with the money they have. Social housing was, and could again be, an example of that. Take two people, one of whom earns £30k a year and the other £15k. To close the real wealth gap between the two does not necessarily require increasing the income of the latter. Providing them with a decent council flat at low rent effectively allows their disposable income to equalise.

The basic principle here is that what matters most is giving people the resources they need to live better, which doesn’t necessarily require giving them more cash. This has in effect been the principle behind all sorts of socially levelling initiatives. Local authorities didn’t give local people free books, they gave them the use of libraries. They didn’t give them cars, they gave them bus passes. We need to relearn the wisdom of these policies, and update them for the modern age. In an era where car ownership is not rare, what about low-cost car clubs? Why shouldn’t more people be able to borrow laptops and tablets from libraries as well as books and DVDs?

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“Half of all antibiotics globally are now consumed in China alone.”

• Factory Farming, Antibiotics Use In Asia Creating Global Health Risks (G.)

The use of antibiotics in factory farms in Asia is set to more than double in just over a decade, with potentially damaging effects on antibiotic resistance around the world. Factory farming of poultry in Asia is also increasing the threat of bird flu spreading beyond the region, with more deadly strains taking hold, according to a new report from a network of financial investors. Use of antibiotics in poultry and pig farms will increase by more than 120% in Asiaby 2030, based on current trends. Half of all antibiotics globally are now consumed in China alone. The Chinese meat and animal feed producers New Hope Group and Wen’s Group are now among the 10 biggest animal feed manufacturers in the world. The growth of Asian meat production in intensive units is also producing a rise in greenhouse gas emissions from the food chain, with emissions likely to rise by more than 360m tonnes, the equivalent of running 100 coal-fired power plants for a year.

There are knock-on impacts such as deforestation, as China’s need for animal feed is responsible for more than a third of Brazil’s soybean production. The report, Factory Farming in Asia: Assessing Investment Risks, comes three years after a meat scandal in China, in which suppliers to McDonalds, KFC and others were found to be using dirty meat and products past their sell-by date. It also comes in the midst of a growing food scandal in Europe, which has required the recall of millions of eggs tainted with harmful chemicals, and as concerns have been aired over the impact of Brexit on imports of farm products to the UK. Asian food companies have rapidly expanded their meat production in response to growing populations and the tastes of the rising middle class, but this expansion has come to the detriment of food safety.

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They’re being shot at. And the Italian Foreign Minister calls that “a welcome readjustment” and a “positive process”.

• More NGOs Follow MSF In Suspending Mediterranean Migrant Rescues (R.)

Two more aid groups have suspended migrant rescues in the Mediterranean, joining Doctors Without Borders, because they felt threatened by the Libyan coastguard. Save the Children and Germany’s Sea Eye said on Sunday their crews could no longer work safely because of the hostile stance of the Libyan authorities. Doctors Without Borders – or Medecins sans Frontieres – cited the same concern when it said on Saturday it would halt Mediterranean operations. “We leave a deadly gap in the Mediterranean,” Sea Eye’s founder Michael Busch Heuer warned on Facebook, adding that Libya had issued an “explicit threat” against non-government organisations operating in the area around its coast. Libyan coastguard boats have repeatedly clashed with NGO vessels on the edge of Libyan waters, sometimes opening fire.

The coastguard has defended such actions, saying the shooting was to assert control over rescue operations. “In general, we do not reject (NGO) presence, but we demand from them more cooperation with the state of Libya … they should show more respect to the Libyan sovereignty,” coastguard spokesman Ayoub Qassem told Reuters on Sunday. Tension has also been growing for weeks between aid groups and the Italian government, which has suggested some NGOs are facilitating people smuggling, while Italy is trying to enhance the role of the Libyan coastguard in blocking migrant departures. This month, Italy began a naval mission in Libyan waters to provide technical and operational support to its coastguard, despite opposition from factions in eastern Libya that oppose the U.N.-backed government based in Tripoli.

[..] Italian Foreign Minister Angelino Alfano said in a newspaper interview on Sunday that Libya’s growing role in controlling its waters was curbing people trafficking and producing a welcome “readjustment” in the Mediterranean. MSF’s decision to halt its rescue operations was part of this positive process, he told the newspaper La Stampa.

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There’s propaganda and then there’s reality. You decide who you believe.

• Syrian Refugees Can Return To Aleppo… And Do So In Their 100,000s (RT)

Aleppo, a city retaken by Damascus from rebels in December last year, has become a major destination for displaced Syrian returning home in 2017 as numbers of returnees to Syria spills over 600,000, according to the UN. Over the first seven months of 2017, over 600,000 displaced Syrians returned home, the International Organization for Migration (IOM) said Friday, citing its own figures as well as those of the UN Migration Agency and partners on the ground. The returnees are overwhelmingly internally-displaced people, but 16% returned to Syria from other nations, primarily Turkey. The number almost matched that recorded in the whole of 2016. An estimated 67% of returnees went to government-controlled Aleppo Governorate, with the provincial capital itself being the primary destination.

Among other places where refugees went in significant numbers, according to ICO, is Al-Hasakah Governorate, the north-eastern province dominated by Kurds. The city of Aleppo – the largest in Syria prior to the conflict – was retaken by the government army last year, aided by Russia, with hostilities ending in mid-December. For years before that, it was divided between two parts, held respectively by government forces and by a disjointed collection of militant groups, including hardcore jihadists. The battle for the city ended with a ceasefire deal, which allowed remaining rebel forces and their families leave Aleppo and go to Idlib governorate, which currently remains a rebel stronghold.

Earlier an increasing number of refugees returning to their homes in Syria was reported by the UN Refugee Agency (UNHCR), which said more than 440,000 internally-displaced persons and 31,000 refugees in other countries had done so over the first six months of 2016. Aleppo and other government-controlled governorates like Hama, Homs and Damascus were mentioned as destinations for the returnees. [..] The situation is far from rosy of course, according to IOM. The number of people forced to leave their homes in 2017 still outweighs that of returnees, with over 808,000 people estimated to be displaced. Around 10% of those who returned in 2016 and 2017 have ended up fleeing their homes again. Almost 20% of the returnees have no secure supply of food and access to water and health services is a problem for some 60%, a testament to the damage the Syrian war has taken on its civilian infrastructure.

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Love it. Absolute must read, the whole article. Very rich.

• Do Elephants Have Souls? (NA)

The birth of an elephant is a spectacular occasion. Grandmothers, aunts, sisters, and cousins crowd around the new arrival and its dazed mother, trumpeting and stamping and waving their trunks to welcome the floppy baby who has so recently arrived from out of the void, bursting through the border of existence to take its place in an unbroken line stretching back to the dawn of life. After almost two years in the womb and a few minutes to stretch its legs, the calf can begin to stumble around. But its trunk, an evolutionarily unique inheritance of up to 150,000 muscles with the dexterity to pick up a pin and the strength to uproot a tree, will be a mystery to it at first, with little apparent use except to sometimes suck upon like human babies do their thumbs.

Over time, with practice and guidance, it will find the potential in this appendage flailing off its face to breathe, drink, caress, thwack, probe, lift, haul, wrap, spray, sense, blast, stroke, smell, nudge, collect, bathe, toot, wave, and perform countless other functions that a person would rely on a combination of eyes, nose, hands, and strong machinery to do. Once the calf is weaned from its mother’s milk at five or whenever its next sibling is born, it will spend up to 16 hours a day eating 5% of its entire weight in leaves, grass, brush, bark, and basically any other kind of vegetation. It will only process about 40% of the nutrients in this food, however; the waste it leaves behind helps fertilize plant growth and provide accessible nutrition on the ground to smaller animals, thus making the elephant a keystone species in its habitat. From 250 pounds at birth, it will continue to grow throughout its life, to up to 7 tons for a male of the largest species or 4 tons for a female.

Of the many types of elephants and mammoths that used to roam the earth, one born today will belong to one of three surviving species: Elephas maximus in Asia, Loxodonta africana (savanna elephant) or Loxodonta cyclotis (forest elephant) in Africa. There are about 500,000 African elephants alive now (about a third of them the more reticent, less studied L. cyclotis), and only 40,000 – 50,000 Asian elephants remaining. The Swedish Elephant Encyclopedia database currently lists just under 5,000 (most of them E. maximus) living in captivity worldwide, in half as many locations — meaning that the average number of elephants per holding is less than two; many of them live without a single companion of their kind.

For the freeborn, if it is a cow, the “allomothers” who welcomed her into the world will be with her for life — a matriarchal clan led by the oldest and biggest. She in turn will be an enthusiastic caretaker and playmate to her younger cousins and siblings. When she is twelve or fourteen, she will go into heat (“estrus”) for the first time, a bewildering occurrence during which her mother will stand by and show her what to do and which male to accept. If she conceives, she will have a calf twenty-two months later, crucially aided in birthing and raising it by the more experienced older ladies. She may have another every four to five years into her fifties or sixties, but not all will survive.

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Debt Rattle March 25 2015

Mar 252015
 
 March 25, 2015  Posted by at 7:39 am Finance Tagged with: , , , , , , , , ,  Comments Off on Debt Rattle March 25 2015


William Henry Jackson Jupiter & Lake Worth R.R., Florida 1896

• The Long-Distance Relationship Between Americans and Jobs (WSJ)
• American Cash Is Flooding Into European Stocks (CNN)
• Bank of Canada, Government and Others Face Lawsuit for IMF Conspiracy (Epoch T.)
• ECB Said to Limit Greek Lenders’ Treasury-Bill Holdings (Bloomberg)
• Greeks Celebrate Independence as EU Creditors Discuss Their Fate (Bloomberg)
• Next Task For Tsipras Is To Convince His Party (Kathimerini)
• Greece: Fascists At The Gate (Hallinan)
• China’s Influence Poised To Climb In Revamp Of Postwar Order (Bloomberg)
• The New Chinese Dream (Pepe Escobar)
• Gulf Should Be More Worried About Yemen Than Oil (CNBC)
• Oil Stand-Off In Ukraine Shows Oligarchs Won Maidan Revolution (Sputnik)
• Fiscal Virtue And Fiscal Vice – Macroeconomics At A Crossroads (Skidelsky)
• Pension Funds Seek Shelter From Dollar’s Rise (WSJ)
• Brazil Investigates Deficit-Ridden Pension Fund (Bloomberg)
• Money May Make The World Go Round, But At What Cost? (BBC)
• Obama Snubs NATO Chief as Crisis Rages (Bloomberg)
• Paulson and Warren: The Unlikely Twin Towers of Dodd-Frank (Bloomberg)
• Presidents, Bankers, the Neo-Cold War and the World Bank (Nomi Prins)
• Financial Feudalism (Dmitry Orlov)
• Antibiotics In Meat Rising Fast Worldwide, Especially Bacon (UPI)
• Monsanto Bites Back at Roundup Findings (WSJ)

3 trillion kilometers driven last year.

• The Long-Distance Relationship Between Americans and Jobs (WSJ)

For more Americans, jobs are moving out of reach, literally. The number of “nearby jobs”–jobs within a typical commute for residents in a major metropolitan area–dropped 7% between 2000 and 2012, according to a new study of census data by Elizabeth Kneebone and Natalie Holmes of the Metropolitan Policy Program at the Brookings Institution. Minorities and poor Americans, who have moved to the suburbs in droves, fared worse. The number of nearby jobs fell 17% for Hispanic residents and 14% for blacks over this time period, compared with a drop of 6% for whites. Typical poor residents saw a drop in job proximity of 17%, versus 6% for the nonpoor. The growing distance between Americans and job opportunities is a discouraging trend amid what’s become the strongest job creation in two decades.

Last month, U.S. employers added a seasonally adjusted 295,000 jobs, the 12th straight month of 200,000-plus net job creation. That’s the best streak since 1995. Most of those jobs are full-time. (In 2012, where the Brookings analysis ends, overall U.S. employment in America’s largest metros was about 2% higher than in 2000, following the Great Recession’s catastrophic job losses.) But what matters for Americans’ employment prospects isn’t just the number of job opportunities, or even how “good” they are, but where they are. People near jobs are more likely to work, and have shorter job searches and periods of joblessness—especially black Americans, women and older workers, Brookings says. Among the poor, being near a job increases the chances of leaving welfare.

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The world gets more distorted by the day.

• American Cash Is Flooding Into European Stocks (CNN)

American cash is pouring into European stocks. Last week alone, U.S.-based funds sent a record amount -$3.9 billion – into Europe equities. That’s according to EPFR Global, a research firm that tracks fund flow data. “The trend is definitely accelerating,” says Cameron Brandt, director of research at EPFR. U.S. investments going to Europe thru mid-March have already outpaced February’s total and are triple the size of January’s figure. Here’s why investors are flocking to Europe:

• Europe’s stock success: It’s no secret that European stocks are hot right now. Since the ECB announced its stimulus plan for the continent in January, markets have surged. The STOXX index (SXXL) is up 16% this year while Germany’s DAX has risen 21% in 2015. Markets in Belgium, Sweden and even Spain – yes, Spain! – are doing great so far too. That’s a lot better than the U.S. markets, which are up just over 1% so far this year. As U.S. stocks look pricey, investors see more upside potential across the pond.
“It’s time for Europe to play catch up,” says Kevin Kelly at Recon Capital. “That’s why you’re seeing investors and funds flow into Europe.”

The stimulus plan has weakened the value of the euro, and at the same time the U.S. dollar is gaining value. The euro has rallied a bit this week, but it’s still near 12-year lows. Many believe the dollar and euro could be equal later this year. The currency situation makes European companies more attractive to investors because their products are cheaper to sell than American companies’ products. European exports are on the rise, and the eurozone economy is showing signs of a pick up.

• Expect the trend to continue: The flood of money into Europe is unlikely to stop any time soon. Sixty-three% of fund managers want to invest more in Europe this year, according to the most recent BofA Merrill Lynch fund manager survey. That’s the highest rate since 2001. One of the hot-ticket items right now for investors is exchange-traded fund (ETF) that own European stocks. Investment in those ETFs so far this year has doubled compared to the same time a year ago, according to BlackRock.

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Intriguing.

• Bank of Canada, Government and Others Face Lawsuit for IMF Conspiracy (Epoch T.)

It would be easy to assume the people suing the Queen of England, the Bank of Canada, and three ministers for a conspiracy against “all Canadians” wear tinfoil hats. They don’t. They may be conspiracy theorists, but they are also intelligent, thoughtful people who have a lawyer with a history of winning unlikely cases. And despite the government’s best efforts to have this case thrown out, it’s going ahead after winning an appeal that overturned a lower court’s ruling to have it tossed and surviving a follow-up motion to have it tossed again. The government has one more chance to have it thrown out through an appeal at the Supreme Court, but that has to be filed by Mar. 29 and that looks unlikely. That means the Committee on Monetary and Economic Reform (COMER) is going to have its day in federal court.

This little think-tank alleges that the Bank of Canada, the Queen, the attorney general, the finance minister, and minister of national revenue are engaging in a conspiracy with the International Monetary Fund (IMF), the Financial Stability Board (FSB), and the Bank for International Settlements (BIS) to undermine Canada’s financial and monetary sovereignty. No major media have covered this story. That could be because of the powerful vested interests the suit targets, as Rocco Galati, the lawyer trying the case, suggests. Or it could be because there are parts of the statement of claim that read like they were pulled from the dark corners of some Internet conspiracy forum. They weren’t. These are serious people with wide knowledge of the financial and monetary system. And their lawyer is no slouch.

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Dangerous games.

• ECB Said to Limit Greek Lenders’ Treasury-Bill Holdings (Bloomberg)

The ECB banned Greek banks from increasing holdings of short-term government debt, two people familiar with the matter said. The decision, approved by the ECB Governing Council, comes five days after the same body stalled a previous proposal by the institution’s supervisory arm, pending legal review. In the intervening days, Greek Prime Minister Alexis Tsipras met high-level euro-area officials, including ECB President Mario Draghi and German Chancellor Angela Merkel. Tsipras agreed to submit a comprehensive list of policy measures aimed at securing more financial aid from European partners.

Euro-area finance officials will hold a call on Wednesday to discuss progress on Greece, amid concerns that the country will run out of money by early April. The Governing Council decision makes previous supervisory recommendations legally binding, and reflects increasing concern at the ECB’s bank oversight body, the SSM, about Greek lenders’ exposure to the state and the accompanying default risk. The ban echoes decisions already made on the monetary policy side, such as a €3.5 billion limit on accepting Greek treasury bills as collateral, one of the people said.

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Independence Day. But not a lot of independence.

• Greeks Celebrate Independence as EU Creditors Discuss Their Fate (Bloomberg)

Greeks celebrate their independence Wednesday with a military parade and a folk-music festival sponsored by the Ministry of Defense, as European officials more than 1,000 miles away review the financial aid that will shape their future. The ECB Governing Council will hold a weekly call to assess the Emergency Liquidity Assistance keeping Greece’s banking system afloat while euro-area finance ministry officials will have a separate discussion on the progress of the country’s economic policy program. Without access to capital markets, or the ECB’s normal financing operations, Greek banks rely on almost €70 billion of ELA to cover a financing shortfall exacerbated by steep deposit withdrawals.

While inspectors are gauging the case for continuing financial support for Europe’s most-indebted nation, many Athenians will be watching a parade of battle tanks and fighter jets to mark the beginning in 1821 of the war that won independence from the Ottoman Empire. The government of George Papandreou scaled down military parades to cut costs after the Greek debt crisis erupted in 2010. Fighter jets made a comeback to the skies of Athens last year at a cost of about €500,000, according to a defense ministry official from the previous administration.

With government cash supplies running out and negotiations on financial aid only inching forwards, European officials have said that Greece could default on its obligations within weeks unless there’s a breakthrough. The government has to pay about €1.5 billion of salaries and pensions by the end of March and Prime Minister Alexis Tsipras is at loggerheads with its creditors over the conditions attached to its emergency loans. Revenue from taxes also missed budget targets by about €1 billion in the first two months of the year, the country’s Ministry of Finance said Tuesday, further depleting cash buffers.

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Will Syriza blow it all up?

• Next Task For Tsipras Is To Convince His Party (Kathimerini)

Returning from his official visit to Germany, one of Prime Minister Alexis Tsipras’s main tasks will be to ensure his party’s support for the reform list his government is compiling and preparing to send to lenders, possibly by the end of the week. Sources said that Tsipras will take it upon himself to convince SYRIZA members and MPs to back the reform plan, which should secure Greece the funding it needs to survive until the end of June, when the government will have to reach a new agreement with its lenders. The prime minister’s first port of call in this effort to sell the current package will be the party’s political secretariat. A meeting is expected to take place in the next few days.

This will be followed by a gathering of SYRIZA’s parliamentary group, where Tsipras will try to persuade the party’s 149 MPs to back the reforms when they come to Parliament. The content of the reform package is not yet known but the government is concerned that it will contain a number of items that will not go down well within SYRIZA. This could include the retention of the contentious ENFIA property tax for another year, albeit adjusted so that the less well-off pay less, as well as labor and pension reforms. The coalition has already sought to defuse any tension over privatizations by saying that it will only seek strategic partnerships that allow the state to retain a controlling majority.

An area of increasing friction is what the government plans to do with value-added tax. Lenders want the special 30% reduction on VAT enjoyed by islands to be scrapped. Alternate Finance Minister Nadia Valavani told ANT1 TV yesterday that one option might be to adopt regular VAT rates on the most popular islands, such as Santorini and Myconos. However, this runs counter to what government sources have been saying so far. It is believed the coalition is examining the option of adopting an across-the-board VAT rate of 15%, which means some goods will become cheaper and others more expensive, but with possible exceptions for some basic items such as medicines.

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Next in line if Syriza fails?!

• Greece: Fascists At The Gate (Hallinan)

When some 70 members of the neo-Nazi organization Golden Dawn go on trial sometime this spring, there will be more than street thugs and fascist ideologues in the docket, but a tangled web of influence that is likely to engulf Greece’s police, national security agency, wealthy oligarchs, and mainstream political parties. While Golden Dawn—with its holocaust denial, its swastikas, and Hitler salutes—makes it look like it inhabits the fringe, in fact the organization has roots deep in the heart of Greece’s political culture Which is precisely what makes it so dangerous. Golden Dawn’s penchant for violence is what led to the charge that it is a criminal organization. It is accused of several murders, as well as attacks on immigrants, leftists, and trade unionists. Raids have uncovered weapon caches.

Investigators have also turned up information suggesting that the organization is closely tied to wealthy shipping owners, as well as the National Intelligence Service (EYP) and municipal police departments. Several lawyers associated with two victims of violence by Party members—a 27-year old Pakistani immigrant stabbed to death last year, and an Afghan immigrant stabbed in 2011— charge that a high level EYP official responsible for surveillance of Golden Dawn has links to the organization. The revelations forced Dimos Kouzilos, director of EYP’s third counter-intelligence division, to resign last September. There were several warning flags about Kouzilos when he was appointed to head the intelligence division by rightwing New Democracy Prime Minister Antonis Samaras.

Kouzilos is a relative of a Golden Dawn Parliament member, who is the Party’s connection to the shipping industry. Kouzilos is also close to a group of police officers in Nikea, who are currently under investigation for ties to Golden Dawn. Investigators charge that the Nikea police refused to take complaints from refugees and immigrants beaten by Party members, and the police Chief, Dimitris Giovandis, tipped off Golden Dawn about surveillance of the Party. In handing over the results of their investigation, the lawyers said the “We believe that this information provides an overview of the long-term penetration ands activities of the Nazi criminal gang with the EYP and the police.” A report by the Office of Internal Investigation documents 130 cases where Golden Dawn worked with police.

It should hardly come as a surprise that there are close ties between the extreme right and Greek security forces. The current left-right split goes back to 1944 when the British tried to drive out the Communist Party—the backbone of the Greek resistance movement against the Nazi occupation. The split eventually led to the 1946-49 civil war when Communists and leftists fought royalists and former German collaborationists for power.

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What if a big recession hits?

• China’s Influence Poised To Climb In Revamp Of Postwar Order (Bloomberg)

Seven decades after the end of World War II, the international economic architecture crafted by the U.S. faces its biggest shakeup yet, with China establishing new channels for influence to match its ambitions. Three lending institutions with at least $190 billion are taking shape under China’s leadership, one of them informally referred to as a Marshall Plan – evoking the postwar U.S. program to rebuild an impoverished Europe. Also this year, China’s yuan may win the IMF’s blessing as an official reserve currency, a recognition of its rising use in trade and finance. China’s clout has been expanding for decades, as its rapid growth allowed it to snap up a rising share of the world’s resources, its exports penetrated global markets, and its bulging financial assets gave it power to make big individual loans and purchases.

Now, the creation of international lending institutions is leveraging that economic influence closer to the political and diplomatic arenas, as U.S. allies defy America to back China’s initiative. “This is the beginning of a bigger role for China in global affairs,” said Jim O’Neill, formerly at Goldman Sachs, who coined the term BRICs in 2001 to highlight the rising economic power of Brazil, Russia, India and China. Chinese President Xi Jinping’s vision of achieving the same great-power status enjoyed by the U.S. received a major boost this month when the U.K., Germany, France and Italy signed on to the Asian Infrastructure Investment Bank. The AIIB will have authorized capital of $100 billion and starting funds of about $50 billion.

Canada is considering joining, which would leave the U.S. and Japan as the only Group of Seven holdouts as they question the institution’s governance and environmental standards. Australian Prime Minister Tony Abbott’s cabinet approved negotiations to join too, according to a government official who asked not to be identified as the decision hasn’t been made public. “China’s economic rise is acting as a huge pull factor forcing the existing architecture to adapt,” said James Laurenceson, deputy director of the Australia-China Relations Institute in Sydney. “The AIIB has shown the U.S. that a majority in international community support China’s aspirations for taking on greater leadership and responsibility, at least on economic initiatives.”

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It’s still all just printed Monopoly cash, Pepe.

• The New Chinese Dream (Pepe Escobar)

It’s no wonder top nations in the beleaguered EU have gravitated to the AIIB – which will play a key role in the New Silk Road(s). A German geographer – Ferdinand von Richthofen – invented the Seidenstrasse (Silk Road) concept. Marco Polo forever linked Italy with the Silk Road. The EU is already China’s number one trade partner. And, once again symbolically, this happens to be the 40th year of China-EU relations. Watch the distinct possibility of an emerging Sino-European Fund that finances infrastructure and even green energy projects across an integrated Eurasia. It’s as if the Angel of History – that striking image in a Paul Klee painting eulogized by philosopher Walter Benjamin – is now trying to tell us that a 21st century China-EU Seidenstrasse synergy is all but inevitable.

And that, crucially, would have to include Russia, which is a vital part of the New Silk Road through an upcoming, Russia-China financed $280 billion high-speed rail upgrade of the Trans-Siberian railway. This is where the New Silk Road project and President Putin’s initial idea of a huge trade emporium from Lisbon to Vladivostok actually merge. In parallel, the 21st century Maritime Silk Road will deepen the already frantic trade interaction between China and Southeast Asia by sea. Fujian province – which faces Taiwan – will play a key role. Xi, crucially, spent many years of his life in Fujian. And Hong Kong, not by accident, also wants to be part of the action.

All these developments are driven by China being finally ready to become a massive net exporter of capital and the top source of credit for the Global South. In a few months, Beijing will launch the China International Payment System (CIPS), bound to turbo-charge the yuan as a key global currency for all types of trade. There’s the AIIB. And if that was not enough, there’s still the New Development Bank, launched by the BRICs to compete with the World Bank, and run from Shanghai.

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.. the Saudi Arabian foreign minister said the GCC would take “necessary measures” to resolve the Yemeni conflict..”

• Gulf Should Be More Worried About Yemen Than Oil (CNBC)

Civil strife and terrorism in Yemen could pose a greater threat to the Gulf countries of the Middle East than tumbling oil prices, a major bank said on Tuesday. “We can’t help but think that the turmoil in Yemen is the emerging and underappreciated risk for investors in GCC (Gulf Cooperation Council) stocks,” said Citi analysts Josh Levin and Rahul Bajaj in a research note. Despite worries about Islamic insurgency and destabilization in the Middle East and North Africa, investors in the oil-exporting GCC countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) have focused on the potential hit from the slump in energy prices, with crude oil down around 50% since a peak in June 2014.

However, Levin and Bajaj said that increasing strife in Yemen—which borders Saudi Arabia to the south and Oman to the west— could be an “underappreciated risk” to the GCC. “One of the key takeaways from our GCC trip in early February came from an executive in Qatar who observed that while most people are focused on the price of oil, the recent instability in Yemen posed a greater and underappreciated risk to the GCC. Recent events appear to bear out this executive’s observation,” they said on Tuesday. Yemen is in the grips of a worsening civil war, with fighting intensifying between ousted Sunni President Abd-Rabbuh Mansuh Hadi and the Shiite, anti-American rebels who seized power in a coup in January.

The rebels also face violent resistance from Sunni tribesman and competing Islamist extremists in the south. Last week, suicide bombers opposed to the rebels killed 137 people and injured more than 300 others during Friday prayers in the Yemini capital of Sana’a. On Monday, the Saudi Arabian foreign minister said the GCC would take “necessary measures” to resolve the Yemeni conflict, according to media reports. This is in response to requests for military assistance from Hadi, who belongs to the same Muslim Sunni sect as Saudi Arabia’s leaders. Levin and Bajaj warned that the turmoil in Yemen had the potential to spill over into nearby countries. “We have no edge or ability to predict whether or not the conflict in Yemen will spill over into neighboring countries or impact other GCC countries,” they said.

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Kolomoysky ‘resigned’ after the article was written.

• Oil Stand-Off In Ukraine Shows Oligarchs Won Maidan Revolution (Sputnik)

Whatever the outcome of the stand-off between President Petro Poroshenko and his subordinate Igor Kolomoysky may be, their conflict over Ukrainian oil giant Ukrnafta reveals realities about post-Maidan Ukraine which mainstream media manages to circumvent. Firstly, the country is still ruled by oligarchs, not by the people, even though Igor Kolomoysky is formally governor of Dnepropetrovsk region. Kolomoysky’s private army simply took control first of Ukrtransnafta (Ukraine’s oil transportation monopoly) and later of Ukrnafta. What does this tell us about the Ukrainian state? Secondly, Ukraine’s oligarchs are not at peace with each other; the country is bracing for a major ‘war for assets’ between the country’s richest men (Kolomoysky is worth $2.4 billion on the Forbes list and Poroshenko is worth $1.3 billion).

Thirdly, the Maidan revolution not only left the country without any meaningful legal opposition in the parliament or in the media – as Kost Bondarenko, director of the Kiev-based Foundation for Ukrainian Politics, put it in his article for the Moscow-based Nezavisimaya Gazeta – but the revolution also left Ukraine in a situation of complete lawlessness, when neither laws nor even the words of the president mean much before brutal force and big money (the main weapons of oligarchs). The story of the weekend conflict between Ukraine’s president and the governor of Ukraine’s most important industrial region is a perfect illustration of all these sad truths. Kolomoysky’s men with submachine guns not only took control of Ukrtransgaz on Friday, but the governor of Dnepropetrovsk was apparently untroubled by President Poroshenko’s reprimand for his “unethical behavior” issued the next day.

Kolomoysky’s response to this “scolding” from Poroshenko was widely reported, along with an officially unconfirmed freeze on the accounts of Poroshenko’s companies in Kolomoysky’s bank (Privat-bank). Adding armed insult to the financial injury, Kolomoysky’s men on Sunday took control of Ukrnafta, the country’s biggest oil company, presenting themselves as members of the “voluntary battalion Dnieper” (a Kolomoysky-sponsored paramilitary group known for its atrocities against civilians in the rebellious Donetsk Region). Despite Poroshenko’s order to disarm the gunmen and the president’s promise that “there will be no pocket armies in Ukraine,” Kolomoysky’s men did not leave the building on Monday; instead, they started to put up metal fences around it.

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“..fiscal tightening has cost developed economies 5-10 percentage points of GDP growth since 2010..”

• Fiscal Virtue And Fiscal Vice – Macroeconomics At A Crossroads (Skidelsky)

Until a few years ago, economists of all persuasions confidently proclaimed that the Great Depression would never recur. In a way, they were right. After the financial crisis of 2008 erupted, we got the Great Recession instead. Governments managed to limit the damage by pumping huge amounts of money into the global economy and slashing interest rates to near zero. But, having cut off the downward slide of 2008-2009, they ran out of intellectual and political ammunition. Economic advisers assured their bosses that recovery would be rapid. And there was some revival; but then it stalled in 2010. Meanwhile, governments were running large deficits – a legacy of the economic downturn – which renewed growth was supposed to shrink.

In the eurozone, countries such as Greece faced sovereign-debt crises as bank bailouts turned private debt into public debt. Attention switched to the problem of fiscal deficits and the relationship between deficits and economic growth. Should governments deliberately expand their deficits to offset the fall in household and investment demand? Or should they try to cut public spending in order to free up money for private spending? Depending on which macroeconomic theory one held, both could be presented as pro-growth policies. The first might cause the economy to expand, because the government was increasing public spending; the second, because they were cutting it. Keynesian theory suggests the first; governments unanimously put their faith in the second.

The consequences of this choice are clear. It is now pretty much agreed that fiscal tightening has cost developed economies 5-10 percentage points of GDP growth since 2010. All of that output and income has been permanently lost. Moreover, because fiscal austerity stifled economic growth, it made the task of reducing budget deficits and national debt as a share of GDP much more difficult. Cutting public spending, it turned out, was not the same as cutting the deficit, because it cut the economy at the same time. That should have ended the argument. But it did not. Some economists claim that governments faced a balance of risk in 2010: cutting the deficit might have slowed growth; but not committing to cut it might have made things even worse.

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Reinforce your local infrastructure!

• Pension Funds Seek Shelter From Dollar’s Rise (WSJ)

The soaring U.S. dollar is driving pension funds into the currency markets, in part to protect their overseas investments but also to take advantage of some of the biggest price swings in the financial world. In January, the California State Teachers Retirement System, the nation’s second-largest public pension fund with $190.8 billion under management, handed $500 million to a pair of specialist currency funds as part of an effort to limit losses on their international investments, which fall in value as the dollar rises against other currencies. Late last year, the $150.2 billion Florida State Board of Administration expanded its currency investments by more than 10%, to $2.25 billion.

Last June, the $29 billion Connecticut Retirement Plans & Trust Funds hired two managers to help reduce the foreign-currency risks in its international stock investments. And the $14.3 billion Kansas Public Employees Retirement System is now looking to hire a currency manager. The clamor to protect against currency swings marks a return to a strategy that pension funds have tried on and off for years, with mixed results. While it is good news for the money managers that provide the strategies, which stand to reap tens of thousands of dollars in fees for every pension plan that signs up, it also adds to the risks taken on by pensions. Currency markets are among the most volatile, raising the potential for big profits, but also big losses.

“The pickup since December has been extraordinary,” said Adrian Lee, who manages Adrian Lee & Partners hedge fund. “We’ve had more funds interested in our strategies in the last three months than we’ve had in the last three years.” The fund’s assets have grown 30% in the past year, as existing clients raised their allocations, Mr. Lee said. At their most basic, currency strategies come in two flavors. A passive currency-overlay program that seeks to hedge against foreign-exchange losses typically costs between 0.05% and 0.1% of assets, based on a pension’s exposure to foreign markets, according to NEPC, a consultant to pension plans.

Active strategies that seek to profit from currency swings tend to be several times more expensive, as they include higher management fees and allow hedge funds to keep a share of profits. The rising dollar has re-energized interest in both strategies. While the U.S. Federal Reserve is expected to raise interest rates as soon as June, both Europe and Japan are pumping out economic stimulus at unprecedented levels, seeking to stimulate their economies by keeping rates low. The divergence in borrowing costs has sparked an exodus of capital, as investors quit euro and yen-denominated assets and head into the greenback.

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From one scandal to the next.

• Brazil Investigates Deficit-Ridden Pension Fund (Bloomberg)

The deficit-ridden pension fund for Brazilian postal workers is being investigated for alleged reckless management after several years of money-losing bets ranging from investments in Lehman Brothers bonds to Argentine debt, two people with knowledge of the matter said. Pension-fund agency Previc, securities regulator CVM, the central bank and federal prosecutors are collaborating on the probe and meeting weekly to conclude a report on Postalis, Brazil’s third-largest retirement system by number of beneficiaries, said one of the people, who asked not to be named because the issue is private. The findings may be released in coming days, the person said. Under Brazilian law, the agencies may seek penalties that may include fines of as much as 1 million reais ($320,200) and a 10-year ban from managing pension funds.

Postalis has been running a deficit every year since 2011 and the shortfall of 5.6 billion reais now eclipses its 5 billion reais in assets, public records show. Now, the pension fund created in 1981 to take care of Brazil’s more than 100,000 postal workers is requiring those same employees to boost contributions so it can keep making payments to beneficiaries. “They threw us under the bus,” said 36-year-old Douglas Melo, who is required to pitch in an extra 40 reais a month on top of the 55 reais he already contributes to guarantee future benefits of 200 reais a month. “The fund’s investments that later defaulted or were involved in scandals make no sense.”

Postalis amassed billions of reais in losses pursuing risky bets while its peers flocked to the relative safety and high yields of Brazilian government debt. Brazil’s pension funds allocated 15% of their combined 641.7 billion-real portfolio to Brazil local sovereign debt in 2012, according to the nation’s association that tracks the industry. Postalis held less than 1% in 2012. Postalis bet on a fund that booked 18 million reais of Lehman Brothers debt in August 2008, one month before the New York investment bank filed for bankruptcy, according to data from Brazil’s securities regulator. It bought bonds or invested in funds of mid-sized Brazilian banks that were liquidated by the central bank in 2012 amid fraud allegations and lack of capital.

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Rage against the monopoly. And then create another one just as fast.

• Money May Make The World Go Round, But At What Cost? (BBC)

Banks once had a near monopoly on moving money around the world, and they charged a pretty penny for it. But since the 2008 financial crisis, their reputations have taken an almighty battering, and a growing number of technology-focused start-ups are intent on getting a slice of the action. Cost has become the battleground and technology the weapon in this huge business: people send more than $500bn (£334bn) abroad each year. TransferWise, for example, says banks and independent money transfer giants such as Western Union and MoneyGram, charge about 5-8% in fees when transferring money abroad, and these fees are often concealed within the exchange rate. It charges just 0.5% of the amount being converted. This can equate to a £100-£150 saving on a £5,000 international money transfer.

Founded by Estonians Taavet Hinrikus and Kristo Kaarman, the firm achieves this by matching people transferring money in one direction with people transferring it in the other – so called peer-to-peer transfers. In other words, you are in effect buying your currency from other individuals, thereby cutting out a big chunk of exchange rate and “foreign transaction” charges normally levied by banks. “We didn’t understand why transferring money had to be so expensive,” says Mr Hinrikus, who was one of the first employees of Skype, the online communications company. “With us, it’s all about transparency – that’s really important. We choose the mid-market rate when we transfer money.” Another key to their success – TransferWise has shifted more than £3bn of customers’ money since 2011 – is the simplicity of design, he says.

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Does he do this of his own accord?

• Obama Snubs NATO Chief as Crisis Rages (Bloomberg)

President Barack Obama has yet to meet with the new head of NATO, and won’t see Secretary General Jens Stoltenberg this week, even though he is in Washington for three days. Stoltenberg’s office requested a meeting with Obama well in advance of the visit, but never heard anything from the White House, two sources close to the NATO chief told me. The leaders of almost all the other 28 NATO member countries have made time for Stoltenberg since he took over the world’s largest military alliance in October. Stoltenberg, twice the prime minister of Norway, met Monday with Canadian Prime Minister Stephen Harper in Ottawa to discuss the threat of the Islamic State and the crisis in Ukraine, two issues near the top of Obama’s agenda. Kurt Volker, who served as the U.S. permanent representative to NATO under both President George W. Bush and Obama, said the president broke a long tradition.

“The Bush administration held a firm line that if the NATO secretary general came to town, he would be seen by the president … so as not to diminish his stature or authority,” he told me. America’s commitment to defend its NATO allies is its biggest treaty obligation, said Volker, adding that European security is at its most perilous moment since the Cold War. Russia has moved troops and weapons into eastern Ukraine, annexed Crimea, placed nuclear-capable missiles in striking distance of NATO allies, flown strategic-bomber mock runs in the North Atlantic, practiced attack approaches on the UK and Sweden, and this week threatened to aim nuclear missiles at Denmark’s warships. “It is hard for me to believe that the president of the United States has not found the time to meet with the current secretary general of NATO given the magnitude of what this implies, and the responsibilities of his office,” Volker said.

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Barney Frank memoirs.

• Paulson and Warren: The Unlikely Twin Towers of Dodd-Frank (Bloomberg)

On the surface, Henry Paulson, the former CEO of Goldman Sachs and Secretary of the Treasury under President George W. Bush, and Senator Elizabeth Warren, the populist Democrat from Massachusetts, seem an unlikely team. But former Representative Barney Frank, co-author of the Dodd-Frank financial reform legislation enacted in 2010, said he views Paulson and Warren as twin pillars protecting the financial system. In an interview this week on the Charlie Rose television program, Frank, who was chairman of the House Financial Services Committee during the 2008-2009 financial crisis, recalled former Federal Reserve Chairman Ben Bernanke and Paulson telling Congressional Democratic leaders, “The economy is about to fall apart and we have got to do something the public isn’t going to like.”

Frank worked with Bernanke and Paulson to push through the unpopular but ultimately successful financial bailout known as the Troubled Asset Relief Program. Paulson, Frank said, remained helpful even after leaving government, assisting in the drafting and passing of Dodd-Frank. While Paulson helped establish Dodd-Frank, Frank said, “Elizabeth Warren is helping safeguard it” from Republicans eager to scuttle the law. He acknowledged that Dodd-Frank is complex. But Frank insisted it was neither politically nor substantively possible to make the legislation, which overhauls some regulations dating to the 1930s, less complicated. “In the thirties, there was no such thing as credit default swaps and collateralized loan obligations and collateralized debt obligations,” he said.

Frank’s memoir – titled “Frank” – chronicles his more than four decades in public life. For the first two decades, he said, he felt it necessary to hide his sexuality while celebrating his advocacy of liberal policies. Now, he says, it’s easier to be gay — he was married during his final term in Congress – and harder to champion liberal policies.

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The World Bank as a power tool.

• Presidents, Bankers, the Neo-Cold War and the World Bank (Nomi Prins)

At first glance, the neo-Cold War between the US and its post WWII European Allies vs. Russia over the Ukraine, and the stonewalling of Greece by the Troika might appear to have little in common. Yet both are manifestations of a political-military-financial power play that began during the first Cold War. Behind the bravado of today’s sanctions and austerity measures lies the decision-making alliance that private bankers enjoy in conjunction with government and multinational entries like NATO and the World Bank. It is President Obama’s foreign policy to back the Ukraine against Russia; in 1958, it was the Eisenhower Doctrine that protected Lebanon from a Soviet threat. For President Truman, the Marshall Plan arose partly to guard Greece (and other US allies) from Communism, but it also had lasting economic implications.

The alignment of political leaders and key bankers was more personal back then, but the implications were similar to the present day. US military might protected its major trading partners, which in turn, did business with US banks. One power reinforced the other. Today, the ECB’s QE program funds swanky Frankfurt headquarters and prioritizes Germany’s super-bank, Deutschebank and its bond investors above Greece’s future. These actions, then and now, have roots in the American ideology of melding military, political and financial power that flourished in the haze of World War II. It’s not fair to pin this triple-power stance on one man, or even one bank; yet one man and one bank signified that power in all of its dimensions, including the use of political enemy creation to achieve financial goals.

That man was John McCloy, ‘Chairman of the Establishment’ as his biographer, Kai Bird, characterized him. The relationship between McCloy and Truman cemented a set of public-private practices that strengthened private US banks globally at the expense of weaker, potentially Soviet (now Russian) leaning countries. [..] During the Cold War, the World Bank provided funds for countries that leaned toward capitalism versus communism. Political allies of the United States got better treatment (and still do). The Nations that private bankers coveted for speculative and lending purposes saw their debt loads increase substantially and their industries privatized. Equally, the bankers decided which bonds they could sell to augment public aid funds, which meant they would have control over which countries the World Bank would support. The World Bank did more to expand US banking globally than any treaty or entity that came before it.

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Good read.

• Financial Feudalism (Dmitry Orlov)

Once upon a time—and a fairly long time it was—most of the thickly settled parts of the world had something called feudalism. It was a way of organizing society hierarchically. Typically, at the very top there was a sovereign (king, prince, emperor, pharaoh, along with some high priests). Below the sovereign were several ranks of noblemen, with hereditary titles. Below the noblemen were commoners, who likewise inherited their stations in life, be it by being bound to a piece of land upon which they toiled, or by being granted the right to engage in a certain type of production or trade, in case of craftsmen and merchants. Everybody was locked into position through permanent relationships of allegiance, tribute and customary duties: tribute and customary duties flowed up through the ranks, while favors, privileges and protection flowed down.

It was a remarkably resilient, self-perpetuating system, based largely on the use of land and other renewable resources, all ultimately powered by sunlight. Wealth was primarily derived from land and the various uses of land. Feudalism was essentially a steady-state system. Population pressures were relieved primarily through emigration, war, pestilence and, failing all of the above, periodic famine. Wars of conquest sometimes opened up temporary new venues for economic growth, but since land and sunlight are finite, this amounted to a zero-sum game. But all of that changed when feudalism was replaced with capitalism. What made the change possible was the exploitation of nonrenewable resources, the most important of which was energy from burning fossilized hydrocarbons: first peat and coal, then oil and natural gas.

Suddenly, productive capacity was decoupled from the availability of land and sunlight, and could be ramped up almost, but not quite, ad infinitum, simply by burning more hydrocarbons. Energy use, industry and population all started going up exponentially. A new system of economic relations was brought into being, based on money that could be generated at will, in the form of debt, which could be repaid with interest using the products of ever-increasing future production. Compared with the previous, steady-state system, the change amounted to a new assumption: that the future will always be bigger and richer—rich enough to afford to pay back both principal and interest.

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A tragic species killing itself:”..antibiotic use in livestock will likely rise 67% by 2030 if livestock conditions don’t improve. About 80% of antibiotics sold in the United States go to livestock”.

• Antibiotics In Meat Rising Fast Worldwide, Especially Bacon (UPI)

In the next 15 years, countries around the world will see a major increase in antibiotic use in livestock, a new study finds. “The invention of antibiotics was a major public health revolution of the 20th century,” said senior author Ramanan Laxminarayan, a senior research scholar at the Princeton Environmental Institute and director of the Center for Disease Dynamics, Economics and Policy. “Their effectiveness – and the lives of millions of people around the world – are now in danger due to the increasing global problem of antibiotic resistance, which is being driven by antibiotic consumption.” The study was done by researchers at the Center for Disease Dynamics, Economics and Policy, Princeton University, the International Livestock Research Institute and the Université Libre de Bruxelles.

The researchers found antibiotic use in livestock will likely rise 67% by 2030 if livestock conditions don’t improve. About 80% of antibiotics sold in the United States go to livestock. Antibiotic resistance not only applies to the animals, but it can affect the humans eating the meat. The researchers found pig farmers producing pork and bacon use four times as many antibiotics as cattle farmers. One of the major reasons farmers are having to use more and more antibiotics is that demand for meat is going up, and animals are often subjected to smaller and smaller living quarters, where disease can spread.

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Feel the power.

• Monsanto Bites Back at Roundup Findings (WSJ)

Monsanto Co. escalated its criticism of a World Health Organization agency’s finding last week that a commonly used herbicide probably has the potential to cause cancer in humans. The St. Louis-based agribusiness giant—a major seller of the weed killer—sought a meeting with senior WHO officials on the International Agency for Research on Cancer’s finding, while a WHO agency official defended what he called an “exhaustive” review of eligible data. The IARC’s classification of glyphosate, the U.S.’s most commonly used weedkiller, as “probably carcinogenic” in a report published Friday reignited debate over a chemical that environmental groups have long criticized and the agricultural industry has defended as safe for humans and less harsh on the environment than others.

“We are outraged with this assessment,” Robert Fraley, Monsanto’s chief technology officer, said Monday, arguing that the finding was derived from “cherry picking” data based on an “agenda-driven bias.” Monsanto, which markets glyphosate under the Roundup brand, sent letters to WHO members seeking to discuss the IARC classification, which Monsanto officials said ran counter to many other findings, including those by other WHO programs, according to Philip Miller, the company’s vice president of global regulatory affairs. Dana Loomis, deputy head of the monographs section for the IARC, said the agency’s classification of glyphosate as “probably carcinogenic” was based on an examination of peer-reviewed research and completed government reports on the herbicide.

“We feel confident that our process is transparent and rigorous, based on the best available scientific data, and that it’s free from conflicts of interest,” Mr. Loomis said. He also said it was “categorically not true” that the IARC overlooked research on glyphosate, as Monsanto and other agriculture groups alleged. He said the IARC seeks to find and review all publicly available, peer-reviewed research and government documents in their final form. That excludes draft research, he said, which can change before it is completed.

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