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Debt Rattle June 29 2023

Jun 292023
 
 June 29, 2023  Posted by at 9:06 am Finance Tagged with: , , , , , , , ,  58 Responses »


Gustav Klimt Lady with a fan 1917-18 (sold for $108.4m June 27 2023)

 

• Standoff Between Russia And West Is ‘War Of Worlds’ – Lavrov (RT)
• What Happens In Russia After The Longest Day? (Pepe Escobar)
• US Hawks Lose Momentum Amid Faltering Ukrainian Counteroffensive (Sp.)
• West’s Foolish Regime Change Policy Only Drives Russia and China Closer (Sp.)
• Russia Can’t Give Up Goals Of Special Military Operation – Lavrov (TASS)
• Russia Asks States To Boycott Zelensky’s ‘Peace Forum’ (RT)
• Will US Use New Pretext to Prolong Proxy War in Ukraine? (Sp.)
• Europe Must Break Out Of Its War Psychosis – Hungary (RT)
• Russian General Arrested Following Wagner Mutiny (MT)
• RFK Jr: Bill Gates, WEF Use Climate Narrative For Totalitarian Controls (JTN)
• Pfizer Vaccine Batches in the EU Were Placebos, Say Scientists (DS)
• Comer: Overseas Payments To Biden Family Could Exceed $40M (NYP)
• New Source in Hunter Biden Probe Points Finger at AG Garland (Sp.)
• Pressure Grows On Judge To Reject Hunter Biden Plea Deal (JTN)
• Kamala Harris Worst VP in Polling History – NBC (Sp.)

 

 

 

 

Milley
https://twitter.com/i/status/1673729065243623432

 

 

Biden: Putin “is clearly losing the war in Iraq.”

 

 

Habba

 

 

 

 

Putin

 

 

Wallace

 

 

“Ukr sources report that the entry of PMC Wagner into Belarus is directed against the plans of Ukraine/Poland/Lithuania to deploy a corps on the borders of Western Ukraine. British intelligence warned Zelensky’s Office that a new military unit of 30-40 thousand people will be formed in Belarus, the main task of which will be a new campaign against Kyiv at the time of difficulties of the Armed Forces of Ukraine on the southern front. The equipment for these units has long been in Belarus, it was filled up during 2022-2023.”

 

 

 

 

“When it comes to our former Western partners, though, we cannot rely on any agreements with them, including those of a legally binding nature..”

• Standoff Between Russia And West Is ‘War Of Worlds’ – Lavrov (RT)

Washington and its allies will never allow any nation to pursue a sovereign policy based on national interests if it conflicts with their own plans, Russian Foreign Minister Sergey Lavrov said on Wednesday. The ongoing standoff between Russia and the Western nations is a “war of worlds” involving incompatible approaches to international politics, he added. “Should any other nation try and defend its national interests just as staunchly and decisively, the West would turn against it as well,” the minister told the Great Game show aired on Russia’s Channel 1. The US and its allies still treat the “threat” posed by Russia to their plans as a “tactical” one but believe that Moscow’s victory would make this threat “unacceptable.” Western nations claim to defend a supposed “rules-based order,” the Russian minister said, adding that such an order is nothing but a dictate by Washington and its allies.

“It is when they [the West] decide on which globalization system applies to the world, what are its mechanisms… how trade disputes are resolved,” Lavrov said. The top Russian diplomat also said Washington and its allies had easily exploited principles they had previously declared to be inviolable. “The West has trampled on all its principles in an instant… free trade, fair competition, presumption of innocence… were all turned into weapons when they [the West] needed to punish the Russian Federation,” he said. “When it comes to our former Western partners, though, we cannot rely on any agreements with them, including those of a legally binding nature,” Lavrov maintained. The US and its allies have repeatedly bent the rules of the “order” they were supposedly defending and neglected their commitments under agreements struck with Moscow, the minister stated.

Washington and many Western nations recognized Kosovo’s independence without any referendums on the basis of a unilateral declaration by Pristina, Lavrov said, adding that the same countries dismissed the results of the referendum in Crimea, arguing that the principle of the territorial integrity of Ukraine supposedly takes precedence in this particular case. In February 2014, when the Ukrainian opposition broke their obligations under a deal struck with then-president Viktor Yanukovich, none of the Western guarantors of the agreement “lifted a finger,” Lavrov said, adding that the list of guarantors included France, Germany and Poland at that time. Now, the West is trying to pin all the blame on Russia, accusing it of “unprovoked aggression,” the minister said, describing this as nothing but an attempt to shift the responsibility from Washington and its allies.

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“The rebellion” turned out to be a Western P.R. stunt, a series of (ultimately faded) pictures for global consumption.”

• What Happens In Russia After The Longest Day? (Pepe Escobar)

The first draft of the extraordinary events that took place in Russia on The Longest Day – Saturday, June 24 – leads us to a whole new can of worms. The Global Majority badly wants to know what happens next. Let’s examine the key pieces in the chessboard. Foreign Minister Sergei Lavrov is cutting to the chase: he has reminded everyone that the Hegemon’s modus operandi is to back coup attempts whenever it can benefit. This dovetails with the fact that the FSB is actively investigating whether and how Western intel was involved in The Longest Day. President Putin could not have been more unequivocal: “They [the West and Ukraine] wanted Russian soldiers to kill each other, so that soldiers and civilians would die, so that in the end Russia would lose, and our society would break apart and choke on bloody civil strife (…) They rubbed their hands, dreaming of getting revenge for their failures at the front and during the so-called counter-offensive, but they miscalculated.”

Cue to the collective West – from Secretary of State Anthony Blinken on down – frantically trying to distance itself even as the CIA leaked, via its trademark mouthpiece, the Washington Post, that they knew about “the rebellion.” The agenda was painfully obvious: Kiev losing on all fronts would be ritually buried by wall-to-wall coverage of the fake Russian “civil war.” There’s no smoking gun – yet. But the FSB is following several leads to demonstrate how the “the rebellion” was set up by CIA/NATO. The spectacular failure makes the upcoming NATO July 11 summit in Vilnius even more incandescent. The Chinese, much like Lavrov, also cut to the chase: the Global Times asserted that the idea of “Wagner’s revolt weakening Putin’s authority is wishful thinking of the West,” with the Kremlin’s “strong capacity of deterrence” further increasing its authority. That’s exactly the reading of the Russian street.

The Chinese reached their conclusion after a crucial visit by Deputy Minister of Foreign Affairs Andrei Rudenko, who promptly flew to Beijing on Sunday, June 25. This is how the iron-clad strategic partnership works in practice. Arguably the best explanation so far of the nuts and bolts of The Longest Day has been offered by Rostislav Ischenko. The Global Majority will rejoice that Prighozin’s theatrics, in the end, left the collective West dazed, confused, and shattered: wasn’t the whole thing supposed to unleash total chaos inside Russian society and the army? Even as the fake, lightning-quick “mutiny” was in progress, Russia continued to pound Kiev’s forces – which, by the way, were spinning that the main phase of the “counter-offensive” was being launched exactly on June 24 at night. That was, predictably, yet another bluff.

Back to the Russian street. “The rebellion” – inbuilt in a very convoluted plot – in the end was widely interpreted as just another military demonstration (by master of ceremonies Prighozin, not by the overwhelming majority of Wagner soldiers). “The rebellion” turned out to be a Western P.R. stunt, a series of (ultimately faded) pictures for global consumption.

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“..it will be difficult for the Biden administration to justify increased military aid packages to Ukraine without some success story to tell the American people..”

• US Hawks Lose Momentum Amid Faltering Ukrainian Counteroffensive (Sp.)

Ukraine has failed to demonstrate much progress in its counteroffensive so far, putting the brakes on those US lawmakers who agree that new funding should depend on such. “I agree with most observers that it will be difficult for the Biden administration to justify increased military aid packages to Ukraine without some success story to tell the American people,” retired US Air Force Lt. Col. Karen Kwiatkowski, a former analyst for the US Department of Defense, told Sputnik. “At this point, the Ukraine project is easily portrayed as a waste of time and money, and is something that NATO countries may not be able to support without continued massive US domination in the provision of aid and cash,” she said.

Currently, US military assistance comes to Ukraine via two main routes: first, direct supplies from the Pentagon stockpiles under the Presidential Drawdown Authority; second, the Ukraine Security Assistance Initiative (USAI) – a Pentagon-led funding program to increase Kiev’s military prowess. However, “there’s no additional money in the base budget,” as per defense officials as quoted by the US media. As per the Pentagon, the US has invested $41.2 billion in security assistance to Kiev since January 2021 which includes more than $40.5 billion since the beginning of Russia’s special military operation to demilitarize and de-Nazify Ukraine. For its part, the Kiel Institute for the World Economy estimates that since the start of the Ukraine conflict, the Biden administration has directed over $76 billion in humanitarian, financial and military assistance to Ukraine.

Around $47 billion of that has been allocated to Kiev’s military needs, including $18.5 billion (through USAID); $23.5 billion (through the presidential drawdown authority); and $4.7 billion (through the Foreign Military Financing program). The generous military packages for Ukraine included: numerous infantry arms and equipment; artillery (hundreds of howitzers, 38 HIMARS systems, in particular); tanks and armored carriers (109 Bradley infantry fighting vehicles, 31 Abrams tanks, 45 T-72B tanks, 90 Stryker carries, etc.); ground support vehicles; air defenses (one Patriot air defense battery, 12 Avenger air defense systems, 8 NASAMs, and 1,600 Stingers, in particular); air-to-ground missiles; manned aircraft (20 Mi-17 helicopters); explosive and surveillance drones; coastal defenses (including two Harpoon defense systems and 62 coastal and riverine patrol boats); radars and communications; as well as satellite services, as per Council on Foreign Relations (CFR) chart.

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“..a stable and successful Russia is important for China because without Russia on its side, the Western powers would be able to totally isolate China.”

• West’s Foolish Regime Change Policy Only Drives Russia and China Closer (Sp.)

In the wake of the aborted mutiny by Wagner PMC chief Yevgeny Prigozhin, China has voiced its support for the Russian Federation and Moscow’s efforts to stabilize the situation. “As Russia’s friendly neighbor and comprehensive strategic partner of coordination for the new era, China supports Russia in maintaining national stability and achieving development and prosperity,” a Chinese Foreign Ministry spokesperson said in a Sunday statement. Thomas W. Pauken II, a Beijing-based geopolitical consultant with expertise in crisis management, told Sputnik that China has “an understanding that for their very own survival, they need Russia to succeed.”

“China supports a strong and stable Russia for many important reasons, obviously, because Russia is north of China and Russia and China are both facing pressure from the Western powers in regards to sanctions, while the US and other European countries are increasing their pressure on China,” he explained. “So because of this pressure, basically, China needs to rely more on its real partners, including Russia, because they can work together to strengthen both sides. If Russia and China split apart, that will not only create hardships for Russia, but will also create hardships for China.” Pauken explained that a stable and successful Russia is important for China because without Russia on its side, the Western powers would be able to totally isolate China.

“Political stability in Russia is important to China for a key reason: China has become a major manufacturer in the world. It is a major exporter to the world. But currently, there are many Western powers who are trying to contain China and contain China’s rise. Therefore, the Western powers are pushing and pressuring China to move against Russia. But China does not support this because they realize that if the Western powers are successful at knocking out Russia, then they will simply move on to China and attack China. So China does itself no favors by turning against Russia or by supporting instability in Russia. Obviously, they would want to see Russia succeed and for Putin to succeed, and for the mutiny that was led by Prigozhin to fail. It’s very logical for them. And it makes common sense,” he said.

On Sunday, after the situation had been defused, Russian Deputy Foreign Minister Andrey Rudenko flew to Beijing to meet with Chinese leaders and reaffirm their close partnership and political trust. Pauken said it was “very significant” and sent a message to the Western powers that the Prigozhin affair had not created any “friction or tensions” between the two states. The official underscored that the recent meet between Chinese and Russian figures proved a “very important event because it shows their close relationships, and that they are not going to be driven or come apart over recent events, and the West is going to be unable to drive them apart.” “Instead, what’s really going on is that China and Russia are drawing closer together and we will see their relations get even stronger in the months to come,” he added.

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“..the destruction of all things Russian in Ukraine continues to be their stated goal.”

• Russia Can’t Give Up Goals Of Special Military Operation – Lavrov (TASS)

Russia can’t give up the goals of its special military operation in Ukraine, Russian Foreign Minister Sergey Lavrov said. The minister said Russian President Vladimir Putin “in the past few days has spoken at length to give an assessment of the current situation, especially stressing that, as we overcame the attempted mutiny, we haven’t made the slightest concessions with respect to the goals of the special military operation and haven’t lost any positions on the battlefield. <…> It’s impossible to give them up – the goals that have been set,” Lavrov said on Channel One. The minister said that Russia cannot change its approaches to the conduct of the special operation as long as the West is purposefully creating threats to Russia’s security, funneling lethal weapons into Ukraine, and as long as “the destruction of all things Russian in Ukraine continues to be their stated goal.”

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..a “document that combines all the nonsense their propaganda has promoted in one place.”

• Russia Asks States To Boycott Zelensky’s ‘Peace Forum’ (RT)

Countries of the Global South should not dignify with their presence the so-called peace summit the West wants to hold without Russia, the country’s Foreign Ministry spokeswoman Maria Zakharova said on Wednesday. During the regular briefing at the ministry, Zakharova pointed out the “wild logic” of holding a peace summit without Moscow, calling it an attempt to “ritually discuss” the Western agenda and get moral and propaganda support from the rest of the world. “We call on responsible states, those that truly strive for peace and express the desire and readiness to play a constructive role in finding a political and diplomatic solution to the conflict, not to participate in this provocative scheme,” Zakharova told reporters.

“The West needs you at the ‘summit’ only to create the impression its policy has widespread support. This very thing will make the prospects for peace that much more distant.” The Russian diplomat pointed out that the West is trying to push the so-called peace formula of Ukrainian President Vladimir Zelensky as the only path to resolving the conflict. However, Moscow has repeatedly pointed out that the ‘formula’ has nothing to do with peace, but is a propagandistic set of demands based on absolutely false pretenses. Zakharova reminded reporters that Zelensky’s formula envisions Russia withdrawing from its own territory – including Donbass, Kherson, Zaporozhye and Crimea – paying reparations to Ukraine and submitting to ‘war crimes tribunals,’ among other things. She described it as a “document that combines all the nonsense their propaganda has promoted in one place.”

She compared the ‘peace summit’ with the countless round tables the US has organized over the years regarding the conflict in Syria, none of which produced any results whatsoever. To make peace, one must end the bloodshed and stop the supply of weapons, the diplomat noted, but the US and its allies continue to fuel both.“Attempts to determine the outcome of the Ukraine conflict without Russian participation are doomed to failure. Otherwise this would have been done long ago,”Zakharova pointed out. She also pointed out that Kiev has a history of reneging on its international obligations, mentioning specifically the Minsk Agreements concerning Donbass, which were even endorsed by the UN Security Council. “One can’t believe a word they say,”Zakharova said.

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“Ukraine still remains nothing short of being a “testing grounds” for the US military-industrial complex and justifies huge future investments in the militarization of Europe..”

• Will US Use New Pretext to Prolong Proxy War in Ukraine? (Sp.)

The Biden administration needs a new pretext to enhance support to Kiev. Even though there is some bipartisan consensus in the US Congress on the “necessity” to back Kiev, there is opposition from the right-wing Freedom Caucus to further spending. US national polls also show that the US public is steadily losing appetite for prolonging the conflict. Two Republican presidential front-runners – Donald Trump and Ron DeSantis – as well as Democratic candidate Robert Kennedy, Jr., who commands the support of at least 15-20% of Democratic voters, openly express their opposition to Biden’s adventurism in Ukraine. Previously, Washington substantially stepped up military spending on Ukraine in the wake of the Bucha events groundlessly pinned on Moscow, as well as the derailment of the Russo-Ukrainian preliminary peace agreement of March 2022.

The Russian forces’ partial retreat in autumn 2022 also provided Team Biden with an opportunity to renew calls for further arming of Kiev under the pretext of Ukraine’s “imminent” victory. As Ukraine’s much-anticipated counteroffensive largely stalled in summer 2023, it appears that the Democrats are trying to capitalize on the Wagner mutiny of June 23-24 even though its quick settlement has seemingly caught Team Biden off guard, according to Paul E. Vallely, retired US Army major general and chairman of Stand Up America US Foundation. The US mainstream press expressed hopes that Kiev would be able to benefit from Russia’s “unrest”. However, despite Wagner’s mutiny, the Russian army has managed to keep the situation on the frontlines stable, repelling several Ukrainian attacks over the weekend.

“I don’t think Ukraine was going to be successful in the counter offensive anyhow,” Vallely said. “So I think the Wagner group, what they tried to do, probably surprised Ukraine as well. But I don’t think Ukraine was in a position to do anything to take advantage of it.” For her part, Karen Kwiatkowski noted that Washington was apparently hoping that “the Ukrainian forces would achieve at least one breakthrough along the lines of control, something to justify the massive Biden investment in Ukraine’s political leadership.” “Hope, as they say, is not a strategy, and I do believe that the Biden Security Council is and has been preparing plans for the post-combat phase, with talk of an Israel-like ‘outpost’, of a ‘green’ rebuild of western Ukraine, and a NATO practice arena over the long term.

Plans for hundreds of billions of US taxpayer money administered by Blackrock in the rump state of Ukraine have been in place for over six months at this point,” she continued. Nonetheless, despite the much-advertised counteroffensive having failed so far, what’s left of Ukraine serves NATO’s mission needs for the foreseeable future, Kwiatkowski noted. Ukraine still remains nothing short of being a “testing grounds” for the US military-industrial complex and justifies huge future investments in the militarization of Europe, according to the ex-Pentagon analyst. “I think we’re going to see a crescendo or some kind of, I don’t know whether they’re going to cease operations, but we think at the end of July, August, there’s going to be a new phase in this conflict,” Vallely said.

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“Ukraine is no longer a sovereign country. They don’t have any money. They have no weapons. They can only fight because we in the West support them.”

• Europe Must Break Out Of Its War Psychosis – Hungary (RT)

Europe is moving closer to “catastrophe in every sense,” Hungarian Foreign Minister Peter Szijjarto declared on Monday, before extending Budapest’s veto on EU arms transfers to Ukraine. “Europe is moving closer to a catastrophe – in every sense, unfortunately,” Szijjarto wrote on Facebook before meeting with EU foreign ministers in Luxembourg on Monday. “Now even bigger trouble could be prevented and many thousands of lives could be saved,” he continued, “but to do this one would have to break out of the war psychosis.” “I have no illusions that this will happen at the meeting of the EU Foreign Ministers in Luxembourg today,” he concluded. Szijjarto’s prediction played out on Monday. After an address by Ukrainian Foreign Minister Dmitry Kuleba, the bloc’s top diplomats voted to increase their joint weapons fund for Ukraine by an additional €3.5 billion ($3.85 billion).

Known as the ‘European Peace Facility’ (EPF), the fund is a €5.6 billion ($6.08 billion) purse that the bloc uses to finance foreign militaries and reimburse its own members who send arms to foreign conflicts. Before the conflict in Ukraine, the ‘Peace Facility’ had only been used to supply non-lethal equipment to Georgia, Mali, Moldova, Mozambique, and Ukraine, for a total of less than $125 million. While the EPF’s ceiling will be increased, Szijjarto confirmed on Monday that Hungary will maintain its veto on the latest €500 million ($546 million) tranche of arms from the fund for another month. Budapest is currently blocking the transfer of EU weapons to Ukraine due to Kiev’s blacklisting of Hungarian companies doing business in Russia.

Szijjarto and Hungarian Prime Minister Viktor Orban have both repeatedly called for a ceasefire and peace deal in Ukraine, while insisting that anti-Russia sanctions hurt Europe more than they hurt Russia. In an interview with German tabloid Bild on Tuesday, Orban stated that the idea of a Ukrainian victory on the battlefield is “impossible” and that without an immediate ceasefire, Ukraine will “lose a huge amount of wealth and many lives, and unimaginable destruction will occur.” “What really matters is what the Americans want to do,” Orban said, explaining that “Ukraine is no longer a sovereign country. They don’t have any money. They have no weapons. They can only fight because we in the West support them.”

Read more …

Can’t find this in the Russian press, other than this in Moscow Times.

“Kremlin spokesman Dmitry Peskov on Wednesday dismissed the report as “speculation” and “gossip..”

• Russian General Arrested Following Wagner Mutiny (MT)

Russian General Sergei Surovikin has been arrested, The Moscow Times’ Russian service reported Wednesday, citing two sources close to the Defense Ministry who spoke on the condition of anonymity. The Defense Ministry has yet to comment on the alleged arrest of Surovikin, who has not been seen in public since Saturday, when Wagner Group chief Yevgeny Prigozhin launched an armed rebellion against Russia’s military leadership. “The situation with him was not ‘OK.’ For the authorities. I can’t say anything more,” one of the sources said. According to the second source, the arrest was carried out “in the context of Prigozhin.” “Apparently, he [Surovikin] chose Prigozhin’s side during the uprising, and they’ve gotten him by the balls,” the source said.

When asked about the general’s current whereabouts, the source replied: “We are not even commenting on this information through our internal channels.” Earlier Wednesday, pro-war military blogger Vladimir Romanov said Surovikin was detained Sunday, the day after Prigozhin’s aborted mutiny. Romanov claimed that Surovikin is now being held in Moscow’s Lefortovo detention center. Alexei Venediktov, editor-in-chief of the shuttered Ekho Moskvy radio station, wrote on Telegram that Surovikin has not been in contact with his family for three days and that his guards are not responsive. The New York Times reported Tuesday, citing unnamed U.S. officials, that Surovikin had prior knowledge of Prigozhin’s plan to instigate a rebellion against Russia’s military leadership.

Kremlin spokesman Dmitry Peskov on Wednesday dismissed the report as “speculation” and “gossip,” suggesting that Putin had not given in to Prigozhin’s demands for an imminent reshuffle of the Russian military’s top brass. Wagner’s uprising set off Russia’s most serious security crisis in decades before Prigozhin agreed to stand down Saturday night in exchange for immunity in exile, as part of a deal brokered by Belarusian President Alexander Lukashenko. Surovikin commanded Russia’s forces in Ukraine for three months between October 2022 and January 2023 until he was replaced by Chief of the General Staff Valery Gerasimov.

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“..we should reward the cheapest, most efficient energy sources,” which he “generally” feels to be renewables..”

• RFK Jr: Bill Gates, WEF Use Climate Narrative For Totalitarian Controls (JTN)

Robert F. Kennedy Jr., who is running for the Democratic presidential nomination in 2024, didn’t mince words when discussing certain “elites” like Bill Gates and leaders of the World Economic Forum (WEF), whom he accused of using the “climate narrative” to gain “top-down totalitarian controls” of societies. Kennedy made his remarks in a Tuesday “Virtual Health Policy Roundtable” on Zoom, which featured several doctors and others Kennedy described as “critics of prevailing health policy.” During the round table, Kennedy was asked how he would ease the minds of the next generation surrounding climate change, to which he responded by criticizing those he views as responsible for the climate hysteria.


“I think that the climate narrative has been hijacked by the World Economic Forum and by Bill Gates,” Kennedy said. “Crises are used by elites within societies to consolidate their power, to diminish democracy, to constrict civil rights and human rights, and to impose top-down totalitarian controls.” “I think the climate crisis is being used in that way by those people,” he added. Kennedy proceeded to offer his solution to climate issues. “My approach to climate has always been a free market approach… we should use marketplace rules rather than top-down controls, we should reward the cheapest, most efficient energy sources,” which he “generally” feels to be renewables. He then said he doesn’t try “scaring people” with CO2 emissions but has focused on “getting off of coal.”

RFK

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Not sure why this happened the way it did.

• Pfizer Vaccine Batches in the EU Were Placebos, Say Scientists (DS)

Scientists have uncovered startling evidence that a substantial portion of the batches of the Pfizer-BioNTech COVID-19 vaccine deployed in the European Union may in fact have consisted of placebos – and that the German regulator knew this and did not subject them to quality-control testing. The scientists, Dr. Gerald Dyker, Professor of Organic Chemistry at the Ruhr University Bochum, and Dr. Jörg Matysik, Professor of Analytical Chemistry at the University of Leipzig, are part of a group of five German-speaking scientists who have been publicly raising questions about the quality and safety of the BioNTech vaccine (as it is known in Germany) for the last year and a half. They recently appeared on the Punkt.Preradovic online programme of the German journalist Milena Preradovic to discuss batch variability. Their starting point was the recent Danish study showing enormous variation in the adverse events associated with different batches of the Pfizer-BioNTech vaccine, or BNT162b2 per its scientific codename. The below figure from the Danish study illustrates this variation.

It shows that the batches used in Denmark, which are represented by the points in the graph, essentially break down into three groups. The ‘green batches’ clustered around the green line have a moderate or moderately-high level of adverse events associated with them. In the discussion with Preradovic, Gerald Dyker takes the example of the green point furthest to the right. As he explains, it represents the batch that was the used the most in Denmark, with somewhat over 800,000 doses having been administered. These 800,000 doses are associated with around 2,000 suspected adverse events, which gives a reporting rate of one suspected adverse event per approximately 400 doses. As Dyker puts it, “That’s not a small amount if we compare to what we know otherwise from influenza vaccines.” According to Dyker’s calculation, the green batches account for more than 60% of the Danish sample.

There are then the ‘blue batches’ clustered around the blue line, which are obviously associated with an extraordinarily high level of adverse events. As Dyker notes, no more than 80,000 doses of any of the blue batches were administered in Denmark – suggesting that these especially bad batches may perhaps have been quietly pulled from the market by public health authorities. Nonetheless, these batches had as many as 8,000 suspected adverse events associated with them. Eight thousand out of 80,000 doses would give a reporting rate of one suspected adverse event for every 10 doses – and Dyker notes that some of the blue batches are indeed associated with a reporting rate of as high as one suspected adverse event for every six doses! On Dyker’s calculation, the blue batches represent less than 5% of the total number of doses included in the Danish study.

Nonetheless, they are associated with nearly 50% of the 579 deaths recorded in the sample. Finally, we have the ‘yellow batches’ clustered around the yellow line, which, as can be seen above, barely gets off the x-axis. On Dyker’s calculation, the yellow batches represent around 30% of the total. Dyker notes that they include batches comprising some 200,000 administered doses which are associated with literally zero suspected adverse events. As Dyker puts it, “malicious” observers might note that “this is how placebos would look”. And malicious observers might be right. For Dyker and Matysik compared the batch numbers contained in the Danish study with publicly available information on the batches approved for release, and they made the startling discovery that almost none of the harmless batches, unlike the very-bad and not-so-bad batches, appear to have been subject to any quality-control testing at all.

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“This was organized crime. There’s no other way to define it,”

• Comer: Overseas Payments To Biden Family Could Exceed $40M (NYP)

Members of President Biden’s family may have accepted in excess of $40 million from foreign nationals in exchange for favorable policy decisions, House Oversight Committee Chairman James Comer suggested Wednesday. The Kentucky Republican said that his panel has identified “six specific policy decisions” where Biden, 80, took actions that indicate he may have been “compromised,” during an appearance on John Catsimatidis’ “Cats & Cosby Show” on WABC 770 Wednesday. Comer noted that of the six policy decisions, four of them “were made while Joe Biden was president early on — [where] we cannot come to any other conclusion as to why these decisions were made, other than the fact that this president is compromised.” “This was organized crime. There’s no other way to define it,” Comer alleged.

The Oversight Committee chairman explained that as recently as “in the last five days” his panel has obtained banking statements and suspicious activity reports that show “more bank accounts, more shell companies and more Bidens” being involved in the family’s overseas influence peddling scheme. “We’re going to try to determine how much money the Bidens took, and what role Joe Biden played in all of this … It’s a huge puzzle,” Comer said of the GOP-led committee’s investigation. “Around 30 to 40 different banks, and about that many different shell companies. This is an organized attempt by the Biden family to hide the source of money going into these shell companies, and to distract from the IRS so they wouldn’t have to pay taxes on it. And that’s exactly what the IRS whistleblowers alleged in the transcribed interview with the Ways and Means Committee — that the Biden family never paid money on any of these wires that came into these shell companies,” he added.

IRS whistleblower Gary Shapely told Fox News host Bret Baier on Wednesday that in 2017 and 2018 alone, first son Hunter Biden ducked a $1.2 million tax bill, and that there is likely hundreds of thousands of dollars more in income from previous years that he failed to report. “I mean to this day, there’s still around $400,000 of unreported income from Burisma [Holdings] in 2014,” Shapley said. “Hunter Biden was told by his partner, Eric Schwerin, that he needed to amend his returns, and he never did.” Comer told Catsimatidis that he’s “confident” his investigation will prove the Biden family raked in “at least $17 million” from overseas, but that the “transactions could exceed $40 million-plus.”

Shapley

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Garland should testify before the House. Simple.

• New Source in Hunter Biden Probe Points Finger at AG Garland (Sp.)

The New York Times has revealed that it had a new source confirming an IRS whistleblower’s claim about the Justice Department’s meddling in the Hunter Biden probe. While the US mainstream press has a record of ignoring reports concerning alleged misdeeds by the president and the first son, the NYT has claimed it has a source backing some of accusations voiced by IRS supervisory agent-turned whistleblower Gary Shapley. One of Shapley’s bombshell claims is that US Attorney David Weiss – assigned to conduct an investigation into Hunter Biden’s alleged tax crimes – was reportedly told by the DoJ that he could not bring charges against Hunter in California and Washington DC. Shapley’s former subordinate, who came forward as a second IRS whistleblower, made the same claim.

This story runs contrary to Attorney General Merrick Garland’s earlier assertions to the US Congress that Weiss has his hands untied when it comes to the Hunter probe in various state jurisdictions. Back in April, the IRS whistleblower placed emphasis on a false testimony to Congress made by a “senior political appointee.” Later, the New York Post reported that Garland was the appointee whose sworn testimony to congress is being challenged. Garland repeatedly denied having thrown any sand in Weiss’s gears. The attorney general even offered to ask Weiss himself to comment on the matter. “As I said at the outset, Mr. Weiss, who was appointed by President Trump as the US attorney in Delaware and assigned this matter during the previous administration, would be permitted to continue his investigation and to make a decision to prosecute any way in which he wanted to and in any district in which he wanted to,” Garland told reporters last week.

“Mr. Weiss has since sent a letter to the House Judiciary Committee confirming that he had that authority. He was given complete authority to make all decisions on his own behalf.” However, the US mainstream newspaper has recently confirmed that Weiss indeed complained about being rebuffed by justice department officials. “In mid-2022, Mr. Weiss reached out to the top federal prosecutor in Washington, Matthew Graves, to ask his office to pursue charges and was rebuffed, according to Mr. Shapley’s testimony,” the newspaper wrote on Tuesday. “A similar request to prosecutors in the Central District of California, which includes Los Angeles, was also rejected, Mr. Shapley testified.

A second former IRS official, who has not been identified, told House Republicans the same story. That episode was confirmed independently to The New York Times by a person with knowledge of the situation.” US conservative outlets have drawn attention to the fact that the newspaper hid this very important piece of information concerning not just Hunter Biden but also AG Merrick Garland in the 21st paragraph of its lengthy report.


Shapley’s colleague, IRS whistleblower 2, the lead case agent, itemized the money precisely in his testimony

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“..and demands on an honest investigation and an honest prosecution as well.”

• Pressure Grows On Judge To Reject Hunter Biden Plea Deal (JTN)

Pressure is growing in congressional, legal and media circles for the federal judge in the Hunter Biden case to reject a plea deal that would spare the first son from serving prison time after evidence has emerged from two IRS whistleblowers that a more serious criminal tax case was sabotaged by the Justice Department. “I don’t understand how any judge could bless this plea agreement now that all of this evidence of obstruction and DOJ and FBI wrongdoing has surfaced,” Sen. Ron Johnson, R-Wis., told Just the News. “So I hope this judge does reject this, and then insists and demands on an honest investigation and an honest prosecution as well.”

Johnson, who with Sen. Charles Grassley led a two year probe into Hunter Biden’s overseas business dealings, was reacting to testimony and evidence from IRS supervisory agent Gary Shapley and another whistleblower that federal prosecutors blocked search warrants, interviews and more serious criminal charges. Shapley first made the allegations to the Justice Department inspector general and the House Ways and Means Committee. And in an interview to be aired Thursday on the John Solomon Reports podcast he detailed how career agents, career prosecutors, the DOJ tax division and lead U.S. Attorney David Weiss supported charging Hunter Biden with felonies alleging tax evasion and avoidance all the way back to 2014 totaling $2.2 million, including failing to pay taxes on $400,000 in income he got from the Ukrainian energy firm Burisma Holdings.

Shapley said President Joe Biden’s son was spared the more serious charges when the U.S. Attorneys in Washington D.C. and Los Angeles – both appointed by Biden – declined Weiss’ request for an indictment and then the statute of limitations on the older alleged offenses were allowed to expire. Hunter Biden has now struck a deal with Weiss to plead guilty to two misdemeanors tax evasion charges from 2017-18 and to enter a probation program that would result in a federal felony gun charge to be dismissed. Hunter Biden, 53, is slated to appear July 26 in federal court in Delaware before U.S. District Court Judge Maryellen Noreika, an appointee of former President Donald Trump.

Famed Harvard law professor emeritus Alan Dershowitz, an unabashed supporter of Joe Biden, agreed there is good reason for Noreika to set aside the plea deal and seek to investigate the whistleblower allegations. He said it was concerning that the whistleblowers’ testimony directly conflicts with Attorney General Merrick Garland’s testimony there was no interference in the probe. “If I were the judge on the Hunter Biden case, I would refuse to accept the plea bargain unless and until Garland and Weiss testify,” Dershowitz told the John Solomon Reports podcast on Tuesday. “What they’ve said is utterly incompatible.”

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Better be quick about replacing her.

• Kamala Harris Worst VP in Polling History – NBC (Sp.)

Nearly half of Americans have a negative view of Kamala Harris and only 32% of them have a positive opinion of the US vice president, a new poll by the US’ NBC News broadcaster has revealed. The survey showed that 49% of respondents are critical of Harris, of which 39% have a “very negative view” with respect to the 58-year-old politician. Only 11% said they have a “very positive” opinion of Harris. She received a net negative rating of -17, which NBC News said is “the lowest for any vice president in the poll’s history.” The poll was carried out from June 16 to June 20 with a total of 1,000 respondents participating in the survey. The poll’s margin of error was 3.1 percentage points. For comparison, Harris predecessor Mike Pence’s ratings sat at 34% positive vs. 38% negative (-4%) in October 2019.


Views of Joe Biden were at 34% positive to 33% negative (+1%) when he was Barack Obama’s vice president in December 2010, while then-US Vice President Dick Cheney checked in at 47% positive and 24% negative (+23%) in May 2003. Earlier this year, media reports quoted an unnamed White House official as saying that US President Joe Biden is reportedly growing increasingly annoyed that his second-in-command, who allegedly refuses to take on more responsibility over a fear of potentially “messing up.” “A point of tension in their relationship is that I don’t think that the president sees her as somebody who takes anything off of his plate” due to a “fear of messing up,” the official said. The US vice president, who adheres to a hawkish stance on the Ukraine conflict and calls for more hefty military packages, has in particular repeatedly been criticized for sitting on her hands when it comes to tackling the US migration crisis.

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Carvey Spade
https://twitter.com/i/status/1674210937086046209

Wrasse

 

 

Baby rhino
https://twitter.com/i/status/1673803056968867842

 

 

Stop it
https://twitter.com/i/status/1674143751525081089

 

 

 

 

P&K
https://twitter.com/i/status/1674026415635808256

 

 

 

 

Support the Automatic Earth in virustime with Paypal, Bitcoin and Patreon.

 

 

 

 

 

Debt Rattle May 16 2023

May 162023
 
 May 16, 2023  Posted by at 9:05 am Finance Tagged with: , , , , , , , , ,  47 Responses »


Alessandro Allori Self portrait c1555

 

• John Durham: FBI Had No Verified Intel When It Opened Probe On Trump (JTN)
• IRS Abruptly Removes Investigative Team From Hunter Biden Probe (Straub)
• 3 FBI Whistleblowers To Testify On ‘Abuses Of Power’ (DM)
• Dirty Secrets (Jim Kunstler)
• Ukraine Is Not A Symbol of Freedom & Liberal Democracy (Muir)
• Prigozhin Denies Talking To Kiev About Selling Out Russian Troops (RT)
• Cries and Whispers Along the Russian Watchtowers (Pepe Escobar)
• West Acknowledges Direct Involvement In Conflict In Ukraine – UN Envoy (TASS)
• Hungary Blocks €500 Million Payment To Ukraine (RT)
• Musk Responds To Epstein Subpoena (ZH)
• US Empire of Debt Headed for Collapse (Pepe Escobar)
• A Disorderly Reset With Gold Revalued By Multiples (Egon von Greyerz)
Nonprofit Hospitals Made Huge Profits During Pandemic (ET)
• Climate Sceptics Target Scientists For Vicious Abuse On Musk’s Twitter (G.)
• Biden Finally Draws Larger Crowd Than Trump (BBee)

 

 

 

 

Watters


https://twitter.com/i/status/1658283426028605442

 

 

 

 

Zel speech

 

 

 

 

CNN

 

 

Gaetz

 

 

Trump

 

 

 

 

Oz social credit
https://twitter.com/i/status/1657785330936733698

 

 

Macron portrait

 

 

Tom Renz
https://twitter.com/i/status/1658306655090532353

 

 

 

 

There are voices that say Durham intends to go after the FBI next, but I doubt it. He has taken so long with his report that all the usual suspects have had the time to erase -the worst of- their tracks.

The FBI is a cesspit, but fear not: Wray has already made the changes needed. As you were. The smell is hard to bear.

There will be no new charges or arrests. Can you believe it? This has been a coup. There was never any proof for Crossfire Hurricane, but America’s rightfully elected president is gone anyway. And it’s him who’s under investigation, not the people who framed him.

• John Durham: FBI Had No Verified Intel When It Opened Probe On Trump (JTN)

Special Counsel John Durham released a damning final report Monday after more than three years investigating the Russia collusion probe, declaring the FBI had no verified intelligence or evidence when it opened the Crossfire Hurricane probe of President Donald Trump’s campaign in the summer of 2016. The prosecutor, however, recommended no new criminal charges. “Neither U.S. law enforcement nor the Intelligence Community appears to have possessed any actual evidence of collusion in their holdings at the commencement of the Crossfire Hurricane investigation,” Durham wrote in a 300-plus page report sent to Congress and others and obtained by Just the News. DOJ was slated to make the report public later Monday.

The prosecutor faulted the department and the FBI for failing to follow their own standards and allowing a probe to persist, including the surveillance of an American citizen, without basis under the Foreign Intelligence Surveillance Act. “Based on the review of Crossfire Hurricane and related intelligence activities, we concluded the Department and the FBI failed to uphold their important mission of strict fidelity to the law in connection with certain events and activities described in this report,” Durham wrote. “The FBI personnel also repeatedly disregarded important requirements when they continued to seek renewals of that FISA surveillance while acknowledging – then and in hindsight – that they did not genuinely believe there was probably cause to believe that the target was knowingly engaged in clandestine intelligence activities on behalf of foreign power.”

The report’s release touched off instant outrage and impact on Capitol Hill, where House Judiciary Committee Chairman Jim Jordan tweeted he planned to summon Durham for testimony next week. The FBI immediately reacted, saying Durham’s findings justified the changes that current Director Christopher Wray made after taking over from fired Director James Comey. “The conduct in 2016 and 2017 that Special Counsel Durham examined was the reason that current FBI leadership already implemented dozens of corrective actions, which have now been in place for some time. Had those reforms been in place in 2016, the missteps identified in the report could have been prevented,” the FBI said. “This report reinforces the importance of ensuring the FBI continues to do its work with the rigor, objectivity, and professionalism the American people deserve and rightly expect.”

Durham specifically faulted the FBI for relying on evidence from the campaign of 2016 Democrat presidential nominee Hillary Clinton, including the now-discredited Steele dossier, saying leadership lacked the necessary distrust of politically motivated allegations. “Our investigation also revealed that senior FBI personnel displayed a serious lack of analytical rigor towards the information that they received, especially information received from politically affiliated persons and entities,” he wrote. “This information in part triggered and sustained Crossfire Hurricane and contributed to the subsequent need for Special Counsel Mueller’s investigation.”

“In particular, there was significant reliance on investigative leads provided or funded (directly or indirectly) by Trump’s political opponents. The Department did not adequately examine or question these materials and the motivations of those providing them, even when at about the same time the Director of the FBI and others learned of significant and potentially contrary intelligence.” The special prosecutor pointedly highlighted what he portrayed as a dual system of justice, noting the FBI never opened a counterintelligence probe of Clinton’s campaign, despite receiving intelligence she had authorized a dirty trick to paint Trump as a stooge for Russian President Vladimir Putin to impact the outcome of the election.

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“..This drastic action allegedly came on the orders of the Justice Department..”

• IRS Abruptly Removes Investigative Team From Hunter Biden Probe (Straub)

In an alarming move that has raised eyebrows and suspicions about the integrity of federal agencies, the Internal Revenue Service (IRS) abruptly removed the entire team working on the high-profile tax fraud investigation of Hunter Biden, first son of President Joe Biden. This drastic action allegedly came on the orders of the Justice Department, adding to the widespread concern among conservatives about potential corruption and the abuse of power within the federal government. The abrupt reassignment of the investigative team has been perceived by many as retaliation against the supervisory special agent whistleblower, who alleged a coverup of the controversial probe. The agent, who has been overseeing the investigation since early 2020, was informed of this sudden personnel change, according to a letter from his attorneys, Mark Lytle and Tristan Leavitt, to Congress.

In the letter, Lytle and Leavitt suggested that the removal of the investigators not only constituted retaliation but could also be construed as an obstruction of a congressional inquiry. The attorneys pointed out that their client had a legal right to make disclosures to Congress under 5 U.S.C. § 2302 and that any attempt to prevent a federal employee from furnishing information to Congress is a direct violation of long-standing appropriations restrictions. They further emphasized that the removal of the experienced investigative team was the very issue the whistleblower initially sought to expose. Hunter Biden [..] is the alleged subject of the coverup claims. Communications retrieved from his abandoned laptop revealed that he had paid up to “half” of his income to his father, President Joe Biden.

This controversy arose simultaneously with the release of the long-awaited report by special counsel John Durham detailing bias in the FBI’s investigation of former President Donald Trump’s alleged links to Russia. The timing of these events has further incensed conservatives, fueling claims of a biased news cycle. The IRS whistleblower first surfaced last month when Lytle informed congressional leaders that his client wished to expose the “preferential treatment” in the Hunter Biden case and the alleged false testimony to Congress by Attorney General Merrick Garland. Garland had repeatedly reassured lawmakers that Delaware US Attorney David Weiss could unilaterally make charging decisions in the investigation. This information comes amid reports of “growing frustration” within the FBI over Weiss’s failure to bring charges against Hunter Biden, despite the bureau concluding most of its work last year.

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“..they were instructed to pursue Jan. 6 investigations over child sex crime cases, because they were ‘no longer a priority.'”

• 3 FBI Whistleblowers To Testify On ‘Abuses Of Power’ (DM)

Three FBI officials will testify on alleged ‘abuses of power’ by FBI leadership – ranging from discrimination against conservatives to inflation of domestic terrorism statistics – during a public whistleblower hearing by the House Select Committee on the Weaponization of the Federal Government Thursday, DailyMail.com has learned exclusively. Rep. Jim Jordan, the top Republican on the House Judiciary Committee and head of the select committee, has secured the in-person testimony of suspended FBI special agents Garret O’Boyle and Steve Friend, as well as former FBI State Operations Specialist Marcus Allen. President of Empower Oversight Tristan Leavitt will also be testifying. The hearing is set to be held at 9 a.m. ET Thursday and will focus on the ‘abuses of power’ the former officials witnessed.

They will be given the opportunity to detail how they have been ‘retaliated’ against by the FBI, according to a source familiar. O’Boyle and Friend participated in a closed door transcribed interview in February conducted by the select committee. According to notes from the interview, the former agents specifically expressed concerns with instructions from FBI leadership that they focus on pursuing ‘domestic violent extremism’ probes and disregard standard investigative procedures in January 6 cases. In addition, the former officials told the committee that they were instructed to pursue Jan. 6 investigations over child sex crime cases, because they were ‘no longer a priority.’ Specifically, the former agents accuse the FBI of inflating statistics on ‘domestic violent extremism’ to fit the Biden administration’s political narrative that extremism is on the rise nationwide.

‘The manipulative casefile practice creates false and misleading crime statistics, constituting false official federal statements,’ Friend wrote in an affidavit. ‘Instead of hundreds of investigations stemming from an isolated incident at the Capitol on January 6, 2021, FBI and DOJ officials point to significant increases in domestic violent extremism and terrorism around the United States.’ Friend had his security clearance revoked last September after he vocalized concerns to his superiors, which he described in an affidavit as being a clear retaliatory move by the agency against him. O’Boyle’s clearance has also been stripped. Allen, who has not yet sat before the select committee, is expected to present new evidence to the lawmakers Thursday.

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“Trump versus RFK, Jr. would bring the people of this country together and refocus the nation’s attention on things that matter. It would also be the Baby Boomer’s last stand.”

• Dirty Secrets (Jim Kunstler)

Like myriad institutions in recent decades, the Democratic Party had come to be dominated by women. Women, being hard-wired for safety-seeking, were easily manipulated by the security state into an hysteria fixated on Donald Trump, who was made to represent everything that seemed unsafe. They gave the game away on Mr. Trump’s inauguration day with their women’s march that featured thousands wearing the emblematic “pussy hats.” Message: don’t think you can have your wicked way with this! The hysteria hasn’t let up since then, and now that Mr. Trump is resurging from a thousand attempts to kill him off like some implacable axe-murderer in a horror movie, the corps of useful idiots is showing signs of nervous exhaustion.

The Democratic Party’s front-man, “Joe Biden” (or the claque behind him backstage), has screwed the pooch on just about every matter of vital public interest at home and abroad, and now this president stands revealed as the head of a racketeering operation that specialized in bribery. Yet, oddly, it is Mr. Trump who has been fed into the cogs of the judiciary on an unending set of Mickey Mouse charges. There’s a pretty fair possibility that none of that will work. The Democrats must suspect this, and their nemesis has declared his intentions for a return to power pretty clearly: fire all the seditionists in the security state, pardon all the people on the Right who were unjustly prosecuted, and commence some righteous prosecutions against people who actually deserve it.

Thus, the Left plunges ever-deeper into mental illness — celebrating it at every opportunity and even shoving it America’s face, Joker-style, in defiance: Here, have another drag queen…. A big part of the Left’s mental illness is the inability to even notice their own self-destructive trajectory. There’s a way out for them but it’s pretty drastic. That would be turning to RFK, Jr. for leadership. Trouble is, Mr. Kennedy intends to go after the Democrats’ patron, the security state itself, which he’s publicly blamed for the deaths of his father and uncle. Bobby Kennedy also happens to be an enemy of the US public health agencies and especially a critic of the Covid-19 vaccines that the Left has hung its identity on. They still can’t admit that getting vaxxed and boosted was a tragic mistake.

But an election contest between RFK, Jr. and Donald Trump would be a most salutary exercise for our country. Both of them want to dismantle the overgrown surveillance apparatus and severely reform the agencies under the executive branch. That is, they are both intent on disarming the security state and the Censorship Industrial Complex it spawned. They are both against the stupid Neo-con wars. Trump versus RFK, Jr. would bring the people of this country together and refocus the nation’s attention on things that matter. It would also be the Baby Boomer’s last stand.

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“Ukraine is not a symbol of Freedom & Liberal Democracy. It is a corrupt warmongering Proxy of the US and the Western Globalist Elites”

• Ukraine Is Not A Symbol of Freedom & Liberal Democracy (Muir)

Statements from the U.S. and other Western officials, as well as pervasive accounts in the news media, have created a stunningly misleading image of Ukraine. There has been a concerted effort to portray the country not only as a victim of brutal Russian aggression but as a plucky and noble bulwark of freedom and democracy. The conventional narrative would have us believe that Ukraine is an Eastern European version of Denmark. The promoters of that narrative contend that the ongoing war is not just a quarrel between Russia and Ukraine over Kiev’s ambitions to join NATO and Moscow’s territorial claims in Crimea and the Donbas. No, they insist—the war is part of a global struggle between democracy and authoritarianism, and Ukrainian President Volodymyr Zelenskyy is a leader worthy of nothing less than Winston Churchill’s legacy.

President Biden, in his March 26 remarks on the war, said the conflict was “a battle between democracy and autocracy, between liberty and repression, between a rules-based order and one governed by brute force.” CNN’s John Blake literally compared Ukraine’s cause to America’s in its Revolutionary War. He claimed Ukrainians “are building their own monuments to democracy, with their blood.” The world, he said, “has been transfixed by their battle to repel the mighty Russian army and preserve the birth of democracy in their homeland.” He added that “the war in Ukraine isn’t just a geopolitical struggle—it’s a call to remember. The courage of the Ukrainian people is a reminder of what the U.S. used to be—a ‘beacon of liberty,’ where virtually every schoolchild memorised the ‘Concord Hymn’ poem inscribed at the base of the Minute Man statue.”

In a March 26 USA Today op-ed, John M. Bridgeland, director of the White House Domestic Policy Council under President George W. Bush, similarly expressed fawning admiration for Zelenskyy and Ukraine’s alleged commitment to democracy. “The world is seeing the bravery of Ukrainian President Volodymyr Zelenskyy and the Ukrainian people, who are willing to die to defend their democracy and freedom,” he wrote. Indeed, Bridgeland said, “No cost is too high [for Ukrainians] to defend their democracy and beloved Ukraine.”

[..] The notion that Ukraine was such an appealing democratic model in Eastern Europe that the country’s mere existence terrified Putin may be a comforting myth to U.S. politicians and pundits, but it is a myth. Ukraine is far from being a democratic-capitalist model and an irresistible magnet for Russia’s groaning masses. The reality is murkier and troubling: Ukraine has long been one of the more corrupt countries in the international system. In its annual report published in January 2022, Transparency International ranked Ukraine 123rd of the 180 countries it examined, with a score of 32 on a one to 100-point scale.

Ukraine’s track record of protecting democracy and civil liberties is not much better than its performance on corruption. In Freedom House’s 2022 report, Ukraine is listed in the “partly free” category, with a score of 61 out of a possible 100. Other countries in that category include such bastions of liberal democracy as Rodrigo Duterte’s Philippines (55), Serbia (62), Hungary (59), and Singapore (47). Interestingly, Hungary—which has been a target of vitriolic criticism among progressives in the West because of Prime Minister Viktor Orban’s conservative social policy—ranks eight points higher than Ukraine, which is the recipient of uncritical praise from the same Western ideological factions.

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This was always a non-story. Makes no sense at all. Next!

• Prigozhin Denies Talking To Kiev About Selling Out Russian Troops (RT)

Evgeny Prigozhin, the head of Russia’s Wagner private military company, claims it would have been “physically impossible” for him to meet with Ukrainian military intelligence agents in Africa to make a treasonous proposal to them. The alleged contacts were described by the Washington Post based on purported leaks from the Pentagon. The outlet claimed on Sunday that classified US documents, which made their way to the public through a Discord server, claim there had been communication between Prigozhin and Ukrainian military intelligence (GUR).

The Wagner head allegedly sought to have Ukrainian troops withdraw from the area around the bitterly contested city of Artyomovsk (known in Ukraine as Bakhmut) in order to ease the pressure on his own troops for a while, in exchange for information on Russian troop positions elsewhere. The alleged contacts were said to take place by phone and an in-person meeting in Africa, where the Wagner Group is also active. Prigozhin dismissed the report as “speculation dumped by the Washington Post” and insisted he had not been to Africa since months before the hostilities in Ukraine broke out in February 2022. He suggested that the newspaper was overstating the supposed intel or had fallen victim to planted disinformation.

The Post said two Ukrainian officials confirmed the contacts between Prigozhin and the GUR, but when the newspaper asked Ukrainian President Vladimir Zelensky about them, he appeared to be angered and demanded to know who the sources in his government were. “Who is talking about the activities of our intelligence? Because this is the most severe felony in our country,” he said, before accusing the newspaper of trying to help Russia. The Post later redacted this portion of the interview on its website. In a statement, Prigozhin alluded to the apparent act of self-censorship, calling into question the Post’s reliability.

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“..the ground will start to be laid for US/NATO to eventually turn rump Ukraine, the Baltic lap dogs, rabid Poland and a few other extras into a sort of Fortress Eastern Europe engaged in a war of attrition against Russia with the potential to last decades. That may be the ultimate argument for Russia to finally go for the jugular, as soon as possible.”

• Cries and Whispers Along the Russian Watchtowers (Pepe Escobar)

Trademark American arrogance/ignorance does not erase the fact there seems to be a serious power struggle among the siloviki. Yevgeny Prigozhin, a siloviki, in fact denounced Shoigu and Gerasimov as incompetent, implying they only keep their posts out of loyalty to President Putin. This is as serious as it gets. Because it’s linked to a key question posed across several educated silos in Moscow: if Russia is widely known to be the strongest military power in the world with the most advanced defensive and offensive missiles, how come they have not wrapped up the whole deal in the Ukrainian battlefield? A plausible answer is that only 200,000 members of the Russian army are currently fighting, and about 400,000 to 600,000 are waiting in reserve for the Ukraine attack. While they wait they are in constant training; so waiting works to Russia’s advantage.

Once the famous “counter-offensive” peters out, Ukraine will be hit with massive force. There will be no negotiated settlement. Only unconditional surrender. What goin’ on right now – the Prigozhin drama – is subordinated to this logic, running in parallel to a quite sophisticated media operation. Yes, the Ministry of Defense (MoD) made several serious mistakes, as well as other Russian institutions, since the start of the SMO. To criticize them in public, constructively, is a salutary exercise. Prighozin’s tactics are a gem; he manipulates a degree of public outrage/indignation to put pressure on the MoD bureaucracy by essentially telling the truth. He could even go as far as naming names: officers who are abandoning different sectors of the frontlines. In contrast, his Wagner “musicians” are pictured as true heroes. Whether Prigozhin’s sound and fury will be enough to fine tune the MoD’s entrenched bureaucracy is an open question.

Still, media coverage of the whole drama is essential; now that these problems are in the public domain, people will expect the MoD to act. And by the way, this is the essential fact: Prighozin has been allowed (italics mine) to go as far as he wants by the Higher Power (the St. Petersburg connection). Otherwise he would be in a revamped-gulag by now. So the next few weeks are absolutely crucial. Putin and the Security Council certainly know what everyone else doesn’t – including Prighozin. The key take away is that the ground will start to be laid for US/NATO to eventually turn rump Ukraine, the Baltic lap dogs, rabid Poland and a few other extras into a sort of Fortress Eastern Europe engaged in a war of attrition against Russia with the potential to last decades. That may be the ultimate argument for Russia to finally go for the jugular, as soon as possible. Otherwise the future will be bleak. Well, not so bleak. Remember Putin: “We haven’t even started anything yet.”

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“..Baerbock said that possible arms supplies by third countries to Russia were unacceptable because they could be equated to participation in the conflict..”

• West Acknowledges Direct Involvement In Conflict In Ukraine – UN Envoy

The West has outright acknowledged its direct involvement in the conflict in Ukraine, Russia’s UN Ambassador Vasily Nebenzya told a meeting of the UN Security Council on Monday. “Recently [German Foreign Minister] Annalena Baerbock said that possible arms supplies by third countries to Russia were unacceptable because they could be equated to participation in the conflict,” the permanent representative pointed out. “And what about the fact that now the entire military machine of the West is working to keep the war going?” Nebenzya asked. “This is yet another open admission of direct Western involvement in the conflict,” Nebenzya said.

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Hungary seems to always cave in the end.

• Hungary Blocks €500 Million Payment To Ukraine (RT)

Hungary has blocked the transfer of €500 million ($544 million) worth of arms and military equipment from the EU to Ukraine, Italy’s ANSA news agency reported on Monday. With Kiev scrambling for Western arms to bolster its long-promised counteroffensive against Russian forces, the package was supposed to be sent next week. The package was supposed to be the eighth drawdown for Ukraine from the European Peace Facility (EPF), a €5.6 billion ($6.08 billion) fund that the bloc uses to finance foreign militaries and reimburse its own members who send arms to foreign conflicts. Prior to last February, the ‘Peace Facility’ had only been used to supply non-lethal equipment to Georgia, Mali, Moldova, Mozambique, and Ukraine, for a total of less than $125 million.

Budapest refused to authorize the latest transfer unless it received “guarantees” that the EPF would remain “global” in its scope, and not be used solely to arm Ukraine, ANSA reported, citing “an informed source.” That Hungary would block the supply of arms to Kiev is not surprising. While Hungary is a member of NATO, Prime Minister Viktor Orban has refused to allow the US-led bloc to send weapons to Ukraine via Hungarian territory. Orban has accused the US and his fellow NATO allies of stoking the conflict “at the expense of European interests,” while his government supports a Chinese plan aimed at resolving the conflict diplomatically. Late last year, Hungary held up an €18 billion ($19.5 billion) tranche of economic aid for Ukraine, which the bloc would have borrowed on global markets. Orban argued that by doing so, the EU would have become “indebted” over Ukraine. He eventually relented when the bloc lifted a freeze it had placed on grant money for Hungary.

In January, Hungary also blocked the release of the seventh tranche of EPF arms for Ukraine, although the package was approved several weeks later. Ukrainian President Vladimir Zelensky has repeatedly called on the West to supply him with heavier weapons and more ammunition ahead of a much-vaunted counteroffensive against Russian forces. Zelensky toured Italy, Germany, the UK, and France in recent days and secured further promises of aid from all four, but he still insists he needs fighter jets and longer-range missiles to make good on his promise to retake the Russian territories of Kherson, Zaporozhye, Donetsk, Lugansk, and Crimea. American military officials have publicly expressed doubt that the Ukrainian military can achieve these goals, and leaked Pentagon documents suggest that Washington is bracing for the failure of Kiev’s offensive.

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This stinks.

• Musk Responds To Epstein Subpoena (ZH)

Update: Musk has replied news that he’s been subpoenaed in the US Virgin Islands lawsuit against JPMorgan over their relationship with Epstein. “This is idiotic on so many levels,” said Musk, adding “That cretin never advised me on anything whatsoever.” “The notion that I would need or listen to financial advice from a dumb crook is absurd.” Lastly, Musk claims that JPMorgan “let Tesla down ten years ago, despite having Tesla’s global commercial banking business, which I then withdrew. I have never forgiven them.”
* * *
Elon Musk was issued a subpoena by the US Virgin Islands as part of its lawsuit against JPMorgan Chase over the bank’s alleged facilitation of Jeffrey Epstein’s sex trafficking ring, a court filing revealed Monday. According to the filing, the Virgin Islands has attempted to serve Musk since late April, because Epstein “may have referred or attempted to refer” Musk as a client to JPMorgan. “The USVI hired an investigative firm to try to locate an address from Musk, and also contacted one of the CEO’s lawyers, who in the past has waived the requirement of him being personally served with legal documents in past federal cases, according to the filing in U.S. District Court in Manhattan.” -CNBC.


“The Government contacted Mr. Musk’s counsel via email to ask if he would be authorized to accept service on Mr. Musk’s behalf in this matter but did not receive a response confirming or denying his authority,” reads the filing. JPMorgan is accused of servicing approximately 55 Epstein accounts between 1998 and 2013, years after his 2006 arrest for soliciting minors in Florida. Meanwhile, the US Virgin Islands has also been unable to subpoena Google co-founder Larry Page in connection with its investigation into Jeffrey Epstein, according to federal court filings.

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“what’s happening in the banking crisis today is that debts grow faster than the economy can pay..”

• US Empire of Debt Headed for Collapse (Pepe Escobar)

Prof. Michael Hudson’s new book, The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point” is a seminal event in this Year of Living Dangerously when, to paraphrase Gramsci, the old geopolitical and geoeconomic order is dying and the new one is being born at breakneck speed. Prof. Hudson’s main thesis is absolutely devastating: he sets out to prove that economic/financial practices in Ancient Greece and Rome – the pillars of Western Civilization – set the stage for what is happening today right in front of our eyes: an empire reduced to a rentier economy, collapsing from within. And that brings us to the common denominator in every single Western financial system: it’s all about debt, inevitably growing by compound interest.

Ay, there’s the rub: before Greece and Rome, we had nearly 3,000 years of civilizations across West Asia doing exactly the opposite. These kingdoms all knew about the importance of canceling debts. Otherwise their subjects would fall into bondage; lose their land to a bunch of foreclosing creditors; and these would usually try to overthrow the ruling power. Aristotle succinctly framed it: “Under democracy, creditors begin to make loans and the debtors can’t pay and the creditors get more and more money, and they end up turning a democracy into an oligarchy, and then the oligarchy makes itself hereditary, and you have an aristocracy.” Prof. Hudson sharply explains what happens when creditors take over and “reduce all the rest of the economy to bondage”: it’s what’s called today “austerity” or “debt deflation”.

So “what’s happening in the banking crisis today is that debts grow faster than the economy can pay. And so when the interest rates finally began to be raised by the Federal Reserve, this caused a crisis for the banks.” Prof. Hudson also proposes an expanded formulation: “The emergence of financial and landholding oligarchies made debt peonage and bondage permanent, supported by a pro-creditor legal and social philosophy that distinguishes Western civilization from what went before. Today it would be called neoliberalism.”

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Egon talks his book.

• A Disorderly Reset With Gold Revalued By Multiples (Egon von Greyerz)

Tectonic shifts lie ahead. These will involve a US and European debt crisis ending in a debt collapse, a precipitous fall of the dollar and the Euro with Gold emerging as a reserve asset but at multiples of the current price. The next phase of the fall of the West is here and will soon accelerate. It has been both precipitated and aggravated by the absurd sanctions of Russia. These sanctions are hurting Europe badly and affecting the US in a way that they didn’t expect, but was obvious to some of us. The Romans understood that free trade was essential between all the countries that they conquered. But the US administration blocks have both the money and the ability to trade of the countries they don’t like.

But shooting yourself in the foot really hurts and the consequences are in front of our eyes. No foreign country will want to hold US debt or dollars. That is a catastrophic problem for the US as their deficits will grow exponentially in coming years. So a debt collapse is not just a looming disaster but a bomb hurling towards the US economy at supersonic speed. With the imminent death of the petrodollar and explosion of US debt, there is only one solution for the funding requirements of the US Government – the FED which will stand as the sole buyer of US Treasuries.

So the DEBT spiral of higher debt, higher deficits, more Treasuries, higher rates and falling bond prices will soon turn into a DEATH spiral with a collapsing dollar, high inflation and most probably hyperinflation. Sounds like default to me but that word will probably never be used officially. It is hard to admit defeat even when it stares you in the face! Yes, the US will probably obfuscate the situation with CBDCs (Central Bank Digital Currencies) but since that is just another form of Fiat money, it will at best buy a little time but the end result will be the same.

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“American life expectancy during this period sharply declined by a staggering 2.5 years from 2019 through 2022..”

• Nonprofit Hospitals Made Huge Profits During Pandemic (ET)

Federal officials gave more than $23 billion in COVID-19 aid to the nation’s top 20 nonprofit hospitals, even as a 62 percent increase in their collective net assets led to parallel surges in the institutions’ total profits and revenues during 2018–2021, according to a new report. Only two of the 20 institutions have repaid the government for the COVID-19 aid they received. “The 20 largest nonprofit hospitals in the country continued making massive profits while their cumulative net assets soared to $324.3 billion in 2021, up from $200.6 billion in 2018. “Those hospital systems received congressional COVID bailouts of $23 billion and only two providers partially paid their COVID bailout back,” according to the report compiled by Open The Books, an Illinois-based research nonprofit that compiles and posts spending by all levels of government in the United States.

The two institutions that have partially repaid the government weren’t identified. The biggest jump among the top 20 was 92 percent by the Mayo Clinic, based in Rochester, Minnesota, whose assets surged to $17.7 billion in 2021 from $9.2 billion in 2018. The Mayo Clinic received $350,000 in federal COVID-19 aid, the lowest amount received among the top 20 institutions. The Cleveland Clinic Health System, based in Independence, Ohio, saw its assets rise 60 percent, to $15.7 billion from $9.8 billion, while receiving $118 million in federal COVID-19 aid. Intermountain Healthcare, based in Salt Lake City, the 12th-largest of the top 20, enjoyed a 63 percent growth in net assets to $11.6 billion from $7.1 billion; Intermountain received $518 million in aid.

[..] As the revenue poured in for the 20 hospitals, compensation for their top executives soared, often beyond $10 million annually, according to the report. For example, the CEO of Ascension Healthcare, which is based in St. Louis and is the nation’s second-largest such system, received $13 million in 2021 and more than $22 million over the period covered by the study. [..] The recipient among the top 20 of the most COVID-19 aid was San Francisco-based CommonSpirit Health with $3.6 billion, followed by Providence St. Joseph Center with $3 billion, Ascension Healthcare with $2.7 billion, Livonia, Michigan-based Livonia Health with $2.3 billion and Sutter Health, based in Sacramento, California, with $1.7 billion. Meanwhile, the overall health of Americans got worse between 2018 and 2021. “American life expectancy during this period sharply declined by a staggering 2.5 years from 2019 through 2022. While ‘comparable country averages’ rebounded from a COVID-related drop in 2021, the United States continued declining in life expectancy,” the report found.

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Yeah, “The Science” doesn’t do it anymore. You’ll have to work again.

• Climate Sceptics Target Scientists For Vicious Abuse On Musk’s Twitter (G.)

Some of the UK’s top scientists are struggling to deal with what they describe as a huge rise in abuse from climate crisis deniers on Twitter since the social media platform was taken over by Elon Musk last year. Since then, key figures who ensured “trusted” content was prioritised have been sacked, according to one scientist, and Twitter’s sustainability arm has vanished. At the same time several users with millions of followers who propagate false statements about the climate emergency, including Donald Trump and rightwing culture warrior Jordan Peterson, have had their accounts reinstated. Climate scientists say the change has been stark, and they are fighting to make themselves heard over a “barrage” of often hostile comments.

“There’s been a massive change,” said Mark Maslin, professor of earth system science at University College London and the author of popular books including How to Save Our Planet. “I get so much abuse and rude comments now. It’s happening to all of us, but I challenge the climate deniers so I’ve been really targeted.” Maslin says he used to have regular meetings with Sean Boyle, Twitter’s former head of sustainability, who was laid off in Musk’s mass cull of staff shortly after he took over in Aprll 2022. Maslin said Boyle discussed the platform’s work to develop ways of ensuring that trusted information was pushed to the top. “They were using climate change as a good test bed, because it was fairly clear who the good and bad actors were,” Maslin said. “But he was sacked and Twitter became the wild west.”

Maslin said he will stay on the platform and push back against conspiracy theories with scientific evidence. “I want people to understand there are solutions. There is a real need for us to be on social media defending the truth, however nasty the responses get.” But not all scientists have found standing up to regular hostility an easy feat. Doug McNeall, a statistician working on climate change at the Met Office Hadley Centre at Exeter University, said he had blocked or muted many accounts on Twitter even before Musk’s arrival. “I got to the point where it was definitely affecting my mental health,” he said. “I spent years debating quite strongly with climate sceptics, including people I assume were paid,” he added. “But there can be a real personal cost interacting over a long time with people who are abusing you.”

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El Paso.

• Biden Finally Draws Larger Crowd Than Trump (BBee)

The mainstream media has been heaping praise on President Biden for finally drawing a larger crowd than former President Trump. According to reports, hundreds of thousands are gathering in El Paso and it’s all because of President Biden. “These are truly historic numbers we are seeing! Trump could never get this many people even at his biggest rallies,” gushed CNN anchor Anderson Cooper. “This is an incredible moment for President Biden. He’s clearly resonating with the American people — well, the people, anyway — and it’s clear that his policies are making a real difference.”


Upon seeing the massive crowds, MSNBC’s Rachel Maddow added, “This just goes to show that people are hungry for real leadership and real strength. President Biden is clearly delivering on that front.” Many news sites praised the crowd for its youthfulness and diversity. “Just look at how young of a crowd Biden pulls!” exclaimed Anderson Cooper. “All those unaccompanied minors — I mean democrat voters and it’s all thanks to Biden.” When asked for comment, even Trump had to admit that it was a “tremendous and unbelievably large crowd of people that — to be quite frank with you — I could never draw, believe me!”

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Smile

 

 

Flower matis

 

 

 

 

Moose
https://twitter.com/i/status/1658079007307444227

 

 

Puma
https://twitter.com/i/status/1657802557731766274

 

 


Blue footed

 

 

Lynx

 

 

 

 

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Debt Rattle November 10 2021

Nov 102021
 
 November 10, 2021  Posted by at 9:40 am Finance Tagged with: , , , , , , , , ,  63 Responses »


Francis Tattegrain La ramasseuse d’épaves (The Beachcomber) 1880

 

• Frontline Health Workers In England To Get New Vaccine Guidelines (RT)
• Whistleblowers To Play Key Role In Enforcing Biden Vaccine Rule (CBS)
• Singapore To Start Charging Covid Patients Who Are ‘Unvaccinated By Choice’ (G.)
• More Than Half Of Border Patrol Agents May Be Fired For Being Unvaccinated (SN)
• Feds Seek to Block Promotion of a Nasal Spray Against COVID-19 (ET)
• French Health Authority Warns Men Under 30 To Avoid Moderna Jab (ZH)
• Naturally Immune Federal Workers Lodge Class-Action Over Vaccine Mandate (ET)
• FDA Pfizer Doc Suggests Myocarditis From Shot Bigger Threat Than Covid (Bl.)
• Doctors Will Never Regain The Public’s Trust After Covid (Huffman)
• John Durham Is Getting Close to the Jugular (RCP)
• Durham Exposes New Links To Clinton Campaign in Russian Collusion (Turley)
• ‘Out Of Control’ Pandemic Waste Spewed Into Oceans (RT)

 

 

Tucker OSHA

 

 

That’s it. British health workers get another 5 months to get jabbed. Any sense of urgency or emergency is gone. They won, and they know it. “..Up to 100,000 healthcare staff in England are unvaccinated..”

• Frontline Health Workers In England To Get New Vaccine Guidelines (RT)

England’s frontline NHS workers will have to be fully inoculated against Covid-19 by April 1 as a mandatory condition of their employment, Heath Secretary Sajid Javid has said, as tens of thousands of staff are still not jabbed. Speaking on Tuesday to Parliament, Javid confirmed that “all those working in the NHS and social care will have to be vaccinated.” “We must avoid preventable harm and protect patients in the NHS, protect colleagues in the NHS and of course protect the NHS itself.” The deadline set for next spring – April 1 – will give all staff enough time to complete the Covid vaccination course. Up to 100,000 healthcare staff in England are unvaccinated, according to the head of NHS Providers Chris Hopson. Javid also said there would be exemptions for people who cannot be vaccinated for medical reasons, or for those not in face-to-face positions with patients.


The decision comes after consultations began in September on whether to make Covid and flu jabs mandatory for frontline NHS and care workers. The flu vaccine, however, will not be made mandatory just yet, but will be kept under review. Health Secretary Sajid Javid told Sky News last month that he was “leaning towards” mandatory vaccination for NHS staff, but Downing Street was yet to make a final decision. The prospect of mandatory vaccinations for NHS staff has raised concerns that the move could adversely impact an already overstretched health service. Hopson insisted that the government must work closely with NHS trusts to avoid a mass exodus of unvaccinated staff: “We understand why people are vaccine-hesitant. We need to win the argument with them rather than beat them around the head,” he told BBC Radio 4’s Today show.

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A nation of snitches. Well done. “Ther are Jews hiding in that building!”

• Whistleblowers To Play Key Role In Enforcing Biden Vaccine Rule (CBS)

To enforce President Joe Biden’s new COVID-19 vaccine regulation, the Labor Department is going to need a lot of help. Yet its Occupational Safety and Health Administration (OSHA) doesn’t have nearly enough workplace safety inspectors to do the job. The 490-page regulation will cover American businesses with at least 100 workers, or about 84 million employees in all. So the government will rely upon a corps of informers to identify violations of the order: Employees who will presumably be concerned enough to turn in their own employers if their co-workers go unvaccinated or fail to undergo weekly tests to show they’re virus-free.

What’s not known is just how many employees will be willing to accept some risk to themselves — or their job security — for blowing the whistle on their own employers. Without them, though, experts say the government would find it harder to achieve its goal of requiring tens of millions of workers at large businesses to be fully vaccinated by January 4 or be tested weekly and wear a mask on the job. “There is no army of OSHA inspectors that is going to be knocking on employers door or even calling them,” said Debbie Berkowitz, a former OSHA chief of staff who is a fellow at Georgetown University’s Kalmanovitz Initiative for Labor and the Working Poor. “They’re going to rely on workers and their union representatives to file complaints where the company is totally flouting the law.”

Under the regulation, businesses must maintain records on workers’ vaccination statuses. But for workplaces where employees aren’t required to be vaccinated, workers will need to get weekly tests and wear masks. OSHA said it plans to check on compliance with the latter by doing spot-checks of businesses, and will also rely on complaints the agency receives about businesses that aren’t following the regulation. “We will have our staff available and responsive to complaints, which is a No. 1 way we hear about problems in a workplace,” said Jim Frederick, the acting chief of OSHA, on a conference call with reporters. He also said the agency will focus on job sites “where workers need assistance to have a safe and healthy workplace.”

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Test site for bankrupting ordinary people.

• Singapore To Start Charging Covid Patients Who Are ‘Unvaccinated By Choice’ (G.)

Singapore will no longer pay the Covid-19 medical bills for people “unvaccinated by choice”, the government said, as the country grapples with a surge in cases. The government currently covers the full Covid medical costs for all Singaporeans, as well as permanent residents and long-term visa holders, unless they test positive soon after returning home from overseas. However from 8 December, the government said it will “begin charging Covid-19 patients who are unvaccinated by choice”. It said unvaccinated people “make up a sizeable majority of those who require intensive in-patient care and disproportionately contribute to the strain on our healthcare resources”. Covid-related medical bills will still be paid for people who aren’t eligible for a vaccine.


The government will also foot the bill for individuals who are partially vaccinated until 31 December, giving them time to get a second dose. Singapore has among the highest coverage rates in the world, with 85% of the eligible population fully vaccinated. Yet the city state is struggling with rising Covid infections and last month warned its healthcare system was at risk of being “overwhelmed” by surging cases. It came a day after the country expanded quarantine-free travel as part of a shift in its approach to dealing with the pandemic. The prime minister, Lee Hsien Loong, previously said the global business hub could not remain closed indefinitely, and Singapore has moved from a zero-tolerance strategy with lockdowns and closed borders to living with Covid-19.

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“..48 percent of agents have not registered their vaccination status, and of the 52 percent who have done that, ten percent are unvaccinated.”

• More Than Half Of Border Patrol Agents May Be Fired For Being Unvaccinated (SN)

An internal report from within the US Customs and Border Protection agency suggests that more than half the border patrol workforce remains unvaccinated, and that if vaccine mandates are implemented it could leave just 8000 officers on duty. The document, obtained by Fox News, notes that 48 percent of agents have not registered their vaccination status, and of the 52 percent who have done that, ten percent are unvaccinated. Former chief operating officer of CBP Mark Morgan, who obtained the internal report, told Fox News that Biden’s vaccine mandate is “going to take an agency that’s already gone through an unbelievable catastrophic crisis on the southwest border and deplete its resources further.”

Morgan also provided a screenshot from the report showing tables of different scenarios of depletion within the CBP. The screenshot highlights that “in the worst-case scenario, agents who have not reported their status have done so because they refuse to take the jab, and so they will be terminated (scenario 3). In that case, net attrition could exceed 11,523 agents, leaving a mere 8,013 border agents on patrol.” If this scenario unfolds, it is likely that the border patrol would lose 59 percent of its workforce. Imagine how that would affect the already rampantly out of control border crisis.

If the 10,000 or so border patrol agents who have yet to register their vaccination status do not do so this week, they will be offered counseling, then suspension, then termination, Morgan further noted, emphasising how the document “illustrates the potential impact that this mandate could have on the workforce.” “So, an agency that is dealing with 1.7 million apprehensions, 400,000 got-aways, at that very moment, the same resources are going to be pulled away and distracted to deal with this mandate nonsense,” Morgan urged, adding that the counseling involves further “critical resources,” because border patrol leadership is involved.

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They have to block anything that might work. It’s in their Pfizer contract.

• Feds Seek to Block Promotion of a Nasal Spray Against COVID-19 (ET)

The leading U.S. manufacturer of xylitol-based products says the federal government is deliberately trying to conceal a nasal spray it developed that it says has been scientifically proven to be effective in treating and preventing COVID-19. The U.S. Department of Justice filed a lawsuit in federal court against Utah-based company Xlear on Oct. 28, saying it has deceptively advertised its nasal spray as a treatment and preventative of COVID-19. The lawsuit asks a federal court to permanently ban the company from promoting the nasal spray as a treatment for COVID-19 and also asks that monetary penalties be levied against it. COVID-19 is the disease caused by the CCP virus, commonly known as the novel coronavirus.

The DOJ filed the complaint on behalf of the Federal Trade Commission, which alleges the company has violated the Federal Trade Commission Act and the Consumer Protection Act by making false claims about the benefits. The spray’s main ingredients are saline, grapefruit seed extract, and xylitol, a plant-derived sweetener commonly used in oral care products. “Companies can’t make unsupported health claims, no matter what form a product takes, or what it supposedly prevents or treats,” said Samuel Levine, director of the trade commission’s Bureau of Consumer Protection, said in a press release on the lawsuit. “That’s the lesson of this case and many others like it, and it’s why people should continue to rely on medical professionals over ads.” The commission and the Justice Department declined to make any further comment.

Xlear’s attorney Robert Housman, of the Washington firm Book Hill Partners, told The Epoch Times that the commission is “flat out lying” about the company’s claims being unsupported. Housman pointed out that the National Institute of Allergy and Infectious Diseases (NIAID)—along with the National Institutes of Health (NIH), an arm of the Department of Health and Human Services—funded clinical studies of the use of nasal sprays like Xlear’s and published findings last year that found they were an effective treatment and method of prevention for COVID-19. “When Xlear tells people about scientific studies, even ones republished by the NIH, we are somehow misleading people and making false claims. It’s nonsensical,” Housman told The Epoch Times. “Rather than embrace nasal interventions, the government is trying to eliminate their use because they don’t fit the government’s highly flawed, vaccine-only agenda.”

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Have they published the victims’ numbers and accounts?

• French Health Authority Warns Men Under 30 To Avoid Moderna Jab (ZH)

The bad news for Moderna just keeps coming. In the wake of a weak earnings report that sent Moderna shares cratering last week, French health authorities have just released a new advisory recommending that people under 30 don’t get the Moderna vaccine, recommending that they choose the Pfizer-BioNTech jab instead. The decision draws on recently released data showing that the risk of heart inflammation from Pfizer’s jab “appears to be around five times lesser…compared to Modera’s spikevax jab”, per an opinion published by the HAS. Cases of myocarditis mostly manifest within 7 days of vaccination, typically after the second dose has been given.

Most patients who experience side effects are typically men under the age of 30, according to the HAS, which cited research studies. HAS acts as an advisor to the French health sector but it doesn’t have the power to ban medicines or vaccines. The recommendation will apply to first and second doses, as well as a any “booster shot” doses available while the agency awaits additional data. For French men and women aged 30 and over, however, HAS says it sees no problem with administering Moderna’s Spikevax in this group, stating that its efficacy was slightly higher than Pfizer-BioNTech’s jab. Last month saw a handful of Nordic nations place varying restrictions on Moderna’s vaccine.

Tiny Iceland, meanwhile, has banned the Moderna jab from being used across the entire population. Initially. Stockholm announced it would pause the use of Moderna for all of its population born in 1991 or after. Helsinki followed suit, but halted the jabs for young, male Finns only based on a study involving Finland, Denmark, Norway, and Sweden which found that men under 30 had a slightly higher risk of developing heart inflammation. Oslo also suggested that young Norwegian men should consider choosing Comirnaty, the Pfizer jab, over Moderna’s or any of the other options.

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A half year discussion, going nowhere.

• Naturally Immune Federal Workers Lodge Class-Action Over Vaccine Mandate (ET)

Federal workers who have recovered from COVID-19 have filed a class-action lawsuit against Dr. Anthony Fauci and other government officials over a COVID-19 vaccine mandate that still forces them to get a jab. The government not only failed to offer a carve-out exemption for naturally immune workers, or those who have recovered, but neither President Joe Biden’s executive order nor the guidance explaining it outlines why naturally acquired immunity isn’t an acceptable alternative to vaccination, the lawsuit states. “Because they already have natural immunity, there is no coherent purpose for the federal government to require them to undertake a medical procedure to be vaccinated if they choose not to, or be terminated from their employment, their careers,” Robert Henneke, general counsel at the Texas Public Policy Foundation and one of the lawyers representing the government workers, told The Epoch Times.


Plaintiffs say the mandate violates the Administrative Procedure Act, which allows courts to overturn government actions deemed “arbitrary, capricious, or an abuse of discretion.” They quoted Dr. Scott Gottlieb, a former Food and Drug Administration commissioner who now sits on the board of Pfizer. During recent television appearances, Gottlieb described natural immunity as “durable” and “robust” and said that government officials should start assimilating it into policy discussions. They also cited Dr. Hooman Noorchashm, an immunologist who has said it is medically unnecessary for the recovered to get vaccinated. Dozens of studies have shown that people who survived COVID-19 have strong immunity against re-infection from the virus that causes it, with some indicating the protection is similar to or higher than that provided by vaccines. Workers tried communicating concerns about the mandate but those “have completely fallen on deaf ears, which is why we’ve turned to litigation,” Henneke said.

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So many things we’ve known forever, that still need to be pointed out every day.

• FDA Pfizer Doc Suggests Myocarditis From Shot Bigger Threat Than Covid (Bl.)

In Pfizer’s FDA briefing document prepared for the Oct. 25 meeting was an admission that even according to the company’s own unverified and misleading math, there is a scenario where there would be more hospitalizations among children for myocarditis — just one side effect — than from COVID. “Under Scenario 3 (lowest incidence), the model predicts more excess hospitalizations due to vaccine-related myocarditis/pericarditis compared to prevented hospitalizations due to COVID-19 in males and in both sexes combined,” states Pfizer in page 33 of the document. How in the world could there be any universe where we would approve a shot, much less promote and force it in many settings, when there is a possibility of greater harm than benefit, when the harm is man-made and the virus is left to chance?


They know quite well that this approval will eventually lead to soft and hard mandates, which have already begun in California schools. The document concludes by expressing the same callous attitude toward those raising concerns as toward all their interventions from day one. “However, in consideration of the different clinical implications of hospitalization for COVID-19 versus hospitalization for vaccine-associated myocarditis/pericarditis, and benefits related to prevention of non-hospitalized cases of COVID-19 with significant morbidity, the overall benefits of the vaccine may still outweigh the risks under this lowest incidence scenario.” In other words, sure, we have no clue what’s going to happen, but it’s always better to err on the side of shoving this on children who have a 99.9% recovery rate.

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They have 60% of the people’s trust right now. But what will happen when booster 3,4,5 come along?

• Doctors Will Never Regain The Public’s Trust After Covid (Huffman)

One undeniable outcome of the pandemic is that the public’s faith in scientific and medical authorities is perhaps at its lowest point in living memory – and no objective observer can truly be surprised. At the beginning of the Covid-19 pandemic, the US President’s Chief Medical Adviser Dr Anthony Fauci and US Surgeon General Dr Jerome Adams told us not to wear masks, until they instructed us to wear one everywhere we went. The Covid vaccines were declared to be effective at preventing the spread of disease, until breakthrough cases around the globe proved that wasn’t so, and that effectiveness was downgraded to “against hospitalization and death.”

Both The Lancet and the New England Journal of Medicine, two of the most prestigious medical journals in the world, have issued embarrassing retractions to widely publicized papers eventually found to have too little validity to be published. Anyone who suggested that the pandemic originated in a Wuhan laboratory and not a Chinese wet market was labeled a conspiracy theorist by official sources who later had to admit they were possibly correct. The same proved true for everyone who accused Fauci and the National Institutes of Health of funding gain-of-function research at the lab: they were crazy, until they were right.

The US Centers for Disease Control and Prevention and the American College of Obstetricians and Gynecologists urged all pregnant women to be vaccinated, asserting that the new injections were completely safe. Now, a new review of that same data suggests that one in eight women spontaneously aborted her pregnancy after getting the jab. Even medical terms – such as ‘herd immunity’, and the word ‘vaccine’ itself – have literally been redefined over the past few months. All this has shocked a great number of informed, educated people around the world. Should it, though? In fact, a brief glance through the history of science demonstrates that scientists being completely and utterly wrong – in retrospect, often comically so – is the norm, not an aberration. It’s long past time for modern scientific researchers to discover a proper sense of humility and to step down from the pedestal of secular priesthood they’ve ascended.

Stories about an advisory panel’s recommendation to the Food and Drug Administration to approve a Moderna booster shot contained a quote that most might find truly incredible. “It’s more a gut feeling rather than based on really truly serious data,” said biochemistry professor Dr Patrick Moore. “The data itself is not strong, but it is certainly going in the direction that is supportive of this vote.” How can a scientific advisory panel make such a recommendation while admitting it’s based on feeling, not fact? In fact, it happens all the time. ‘Medical consensus’ is a term that carries an authoritative denotation, yet it simply means that a bunch of experts got together and decided amongst themselves what’s correct. The problem is that, today and in the past, those experts – in virtually every field – are so often wrong.

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The jugular is Hillary and Obama. How close can he get?

• John Durham Is Getting Close to the Jugular (RCP)

The Clinton team launched this operation with professional expertise. The goal was to produce a powerful anti-Trump story, using whatever materials they could, then share it with the media (to smear Trump) and the FBI (to launch a major investigation and ensnare Trump). Ideally, the campaign’s involvement would be hidden, removed from the damning report by several layers of lawyers, opposition researchers, camp followers, and flacks. To provide that insulation, the campaign used attorney Marc Elias, then at Perkins Coie law firm in Washington (where the recently indicted Michael Sussmann was a colleague), to hire an opposition-research firm, Fusion GPS.

That firm, headed by former reporters Glenn Simpson and Peter Fritsch, in turn hired Steele, a Brit who had formerly worked for his country’s intelligence services, to produce the damning dossier. To translate some Russian materials, Fusion GPS hired Nellie Ohr, whose husband, Bruce, learned how biased Steele was and told the FBI to treat Steele and his information warily. Bureau agents ignored that early warning and all the others. They quickly learned Steele’s material was a mirage, thanks to their interviews with Danchenko. They also confirmed that Steele’s dossier depended on Danchenko, so its claims of “Russian sourcing” were false. By interviewing Danchenko’s own sources, they learned that their third-hand statements, which were used in the dossier, were mainly rumors and “bar talk.”

The prosecutorial team assembled by Robert Mueller should have known all this, too. They had complete access to this exculpatory FBI material on day one and ignored it. A year and a half later, when Mueller himself finally testified before Congress, he didn’t even know what Fusion GPS was. By that point, Mueller seemed to have genuine difficulty remembering the details of his own investigation. His team of attorneys had no such excuse. Hired by Mueller’s top deputy, Andrew Weissmann, they were among the country’s sharpest and toughest prosecutors — and the most partisan. The more Durham uncovers, the worse the Mueller team will look.

Reviewing this evidence, Kimberly Strassel of the Wall Street Journal has concluded the Steele dossier is misnamed. It should be called the “Clinton dossier,” she says, since Hillary commissioned it, paid for it, and had her aides feed it to the media, the State Department, and the FBI. It was a full-scale disinformation campaign — coherent, well-organized, and well-funded. It was rotten to the core. The question now is whether John Durham can find enough evidence to charge the ones who planned and executed it. The charging documents he filed for Danchenko and Sussmann are far more extensive than the necessary minimum. They suggest that Durham has compiled extensive evidence about a broader conspiracy. Will he settle for the capillaries now that he has the jugular in view?

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“Durham clearly seems to be making a meticulous case that the Steele dossier was a political hit job orchestrated by Clinton operatives.”

• Durham Exposes New Links To Clinton Campaign in Russian Collusion (Turley)

“To my good friend … A Great Democrat.” Those words written to a Russian figure in Moscow, inside a copy of a Hillary Clinton autobiography, may be the defining line of special counsel John Durham’s investigation. The message reportedly was written by Charles Dolan, a close Clinton adviser and campaign regular whom news reports identify as the mysterious “PR-Executive 1” in the latest Durham indictment, this time of Igor Danchenko. Danchenko, 43, was a key figure in the compilation of the infamous Steele dossier that led to the now discredited investigation of alleged collusion between the Trump campaign and the Russian government during the 2016 presidential race. But Danchenko, a Russian emigre living in the U.S., seems unlikely to be the Durham investigation’s apex defendant. In fact, Durham describes him at points more like a shill than a spy, an “investigator” who was fed what to report by Clinton operatives such as Dolan.

Durham is known as a methodical, apolitical and unrelenting prosecutor. Thus far, his work seems to betray a belief that the FBI got played by the Clinton campaign to investigate the Trump team. The question is whether Durham really wants to indict just the figurative tail if he can get the whole dog — a question that now may weigh heavily on a number of Washington figures, just as it did following Durham’s indictment in September of Clinton campaign lawyer Michael Sussmann. Danchenko’s indictment on five counts of lying to the FBI serves two obvious purposes. First, these counts — with a possible five years in prison on each — are enough to concentrate the mind of any defendant about possibly flipping for the prosecution. Second, indicting Danchenko “hoists the wretch” for potential targets to see and consider that there but for the grace of God — and Durham — go they.

The background details of Durham’s three indictments so far have assembled an impressive list of “great Democrats” who contributed directly or indirectly to the creation of the Russia collusion scandal. Indeed, the collusion case increasingly is taking on a type of “Murder on the Orient Express” feel, in which all of the suspects may turn out to be culprits. While the statute of limitations may protect some, Durham has shown that he can use the crime of lying to federal investigators (18 U.S.C. 1001) as a handy alternative. Targets must admit to prior misconduct or face a new charge. Thus, Durham clearly seems to be making a meticulous case that the Steele dossier was a political hit job orchestrated by Clinton operatives. His latest indictment connects Danchenko to several intriguing figures and groups that, in turn, relate to the Clinton campaign.

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Mass madness.

• ‘Out Of Control’ Pandemic Waste Spewed Into Oceans (RT)

A new report claims that 25,000 tons of masks, gloves, and other pandemic-related plastic waste has ended up in our oceans since Covid-19 first emerged. Hospitals, rather than individuals, are the chief culprit. “The recent Covid-19 pandemic has led to an increased demand for single-use plastic, intensifying pressure on this already out-of-control problem,” a team of Chinese and American researchers wrote in a paper published by the US National Academy of Sciences. “More than eight million tons of pandemic-associated plastic waste have been generated globally, with more than 25,000 tons entering the global ocean,” they added. The study is not the first to link the glut of Personal Protective Equipment (PPE) produced during the pandemic to a rise in pollution.

The ubiquitous face masks that now litter beaches and high streets can take centuries to decompose, leaching harmful microplastics as they break down. With an estimated 129 billion face masks and 65 billion gloves used globally each month, scientists have already called for the use of more environmentally friendly materials in the production of PPE. The latest study, however, identifies the source and destinations of most of this waste. Hospitals account for nearly 90% of discarded PPE, with individuals responsible for only 7%. The majority of the waste (79%) enters the global ocean via just 10 rivers. Overall, Asian rivers are responsible for 73% of waste discharge, followed by European rivers with 11%.

Once in the ocean, most of this waste remains close to its source, with East and South Asia, South Africa, and the Caribbean identified as hotspots. 13 percent floats in the seawater, 16% sinks to the seabed, and 71% is washed up on the shore. The researchers warned that as “the pandemic will not be completely controlled in a couple of years,” a further 34,000 tons of discarded PPE will end up in the oceans, with much of it adding to huge “garbage patches” in the North and South Atlantic and Pacific Oceans, as well as the Indian Ocean.

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Debt Rattle December 2 2020

Dec 022020
 
 December 2, 2020  Posted by at 10:28 am Finance Tagged with: , , , , , , , , , , , ,  19 Responses »


Ford Madox Brown King Lear and Cordelia c1851

 

• UK Becomes First Country To Approve Pfizer-BioNTech COVID19 Vaccine (NBC)
• With Tanden Choice, Democrats Stick it to Sanders Voters (Taibbi)
• We Know Joe (Jacobs)
• Putting a BlackRock Alum in Charge of Greening the Economy (TNR)
• Trump Raises At Least $150 Million Since Election Day (JTN)
• Whistleblowers Allege Ballots Crossed State Lines, Disappear, Backdating (JTN)
• Why the Fed Needs Public Banks (Ellen Brown)
• The Rich Cheer Wall Street’s Latest Records. The Rest Drain 401(k)s (CP)
• Ray Dalio’s Chart Hints At What Beijing Is Really Up To (Xie)
• Debenhams ‘Never Recovered From Private Equity Ownership’ (G.)
• One Of Biology’s Biggest Mysteries ‘Largely Solved’ By AI (BBC)

 

 

 

 

The rest of us should be happy they will be the guinea pigs. I’ve seen one too many doctors and scientists say they’ll sit this one out.

• UK Becomes First Country To Approve Pfizer-BioNTech COVID19 Vaccine (NBC)

The U.K. has become the first country to approve the use of the Pfizer and BioNTech Covid-19 vaccine, and will begin inoculations next week, Health Secretary Matt Hancock said early Wednesday. “For so long we’ve been saying that if a vaccine is developed, then things will get better in 2021, and now we can say when this vaccine is rolled out things will get better,” Hancock told the BBC. The U.K. has ordered 40 million vaccine doses from Pfizer — enough for up to a third of the population. The vaccine was found to be 95 percent effective at preventing symptomatic Covid-19, the drugmaker said after clinical trials.


The pharmaceutical giant submitted an application to the Food and Drug Administration on Nov. 20 for an emergency use authorization in the U.S. A vaccine committee will now decide which groups will first get the vaccine, such as care home residents, health and care staff, the elderly and people who are clinically vulnerable. “This authorization is a goal we have been working toward since we first declared that science will win,” said Pfizer CEO Albert Bourla in a news release. The Pfizer shots must be stored at minus 94 degrees Fahrenheit — far colder than standard cooling systems. To help accommodate the extra refrigeration requirement, Pfizer has developed a supercool storage unit packed with dry ice.

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She looks like a no-go. But many of the other neocons will be in.

• With Tanden Choice, Democrats Stick it to Sanders Voters (Taibbi)

The Democratic Party is not known for its sense of humor, but news that Joe Biden will appoint longtime Center for American Progress chief Neera Tanden to his government qualifies as a rare, well-earned laugh line. Tanden is famous for two things: having a puddle of DNC talking points in place of a cerebrum, and despising Bernie Sanders. She was #Resistance’s most visible anti-Sanders foil, spending awe-inspiring amounts of time on Twitter bludgeoning Sanders and his supporters as a deviant mob of Russian tools and covert “horseshoe theory” Trump-lovers. She has, to put it gently, an ardent social media following. Every prominent media figure with even a vague connection to Sanders learned in recent years to expect mud-drenched pushback from waves of “Neera trolls” after any public comment crossing DNC narratives.

No name in blue politics is more associated with seething opposition to Sanders than Tanden. Biden is making this person Director of the Office of Management and Budget. Sanders is the ranking member (and, perhaps, future chair) of the Senate Budget Committee. Every time Bernie even thinks about doing Committee business, he’ll be looking up at Neera Tanden. For a party whose normal idea of humor is ten thousand consecutive jokes about Trump being gay with Putin, that’s quite a creative “fuck you.” The Democrats still have to reckon with Trumpism in both the short and long term, but the Sanders movement on their other flank has at least temporarily been routed as a serious oppositional force. The Democrats know this, which is part of the joke of the Tanden appointment. While the party’s labors to oppose Trump have been incoherent at best, the campaign to kneecap Sanders has been, let’s admit it, brilliant.


The Blue Apparat has always despised Bernie and his various precursor movements far more than it hated Republicans, and for good reason. There are hundreds, if not thousands, of Clintonite hacks in cushy Washington sinecures who would have retained their spots in the event of a loss to Trump. A Sanders win would have put them all out of the politics business for a while. It was unsurprising to see the party mainstream marshaling all of what passes for its brainpower to devise a long game to crate-train Sanders, who in less than a year went from oppositional favorite to seize the Democratic nomination to obedient afterthought.

Tucker Greenwald on Tanden

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And Joe knows everyone who counts. Except perhaps himself.

• We Know Joe (Jacobs)

We know this man Joe Biden. We know the politics he champions. We know his corporate and financial backers. We know what we’re up against. Barack Obama and the Clintons operated in the same neoliberal and essentially reactionary sphere. The faces in power may be female, Black, Latino and gay, but the policies are designed to keep the power from the people, the money from the vast numbers of working people, and the war machine’s troops around the globe. We cannot afford to get fooled again. Inauguration Day is the opening of a new front in the battle for the planet and those creatures who live on it. The Trump years were, more than anything, a forced retreat. The fascist and other reactionary forces unleashed by his occupation of the White House made major gains and they are determined to hang on to those gains.

The eight years that preceded him were, in essence, not a forced retreat but part of a decades long retreat, nonetheless. It’s good that Biden is a conventional establishment politician. It is also bad. The history of the last four decades (with the exception of the Trump years) is the history of a nation ruled by conventional establishment politicians. It is good because we know their strategies and tricks. It is bad because those strategies and tricks can lull people into a political sleep. Without the personal outrage a Trump can cause, elected officials, their appointees, and the monetary forces they serve can do a lot of damage under the guise of doing good. Whether it is Reagan’s privatization of the government, Clinton’s destruction of the social welfare system, the Bush’s bloody wars on the people of the Mideast, or Obama’s continuation of all those policies, the reality is these actions took place with most US residents’ assent.

Liberals fell for Reagan’s folksy lies, letting themselves be led by their investments into a world where the poor were once again blamed for their circumstances. When their man Clinton was in office, they supported his intensification of the war on the poor, all the while pointing to their 401Ks as proof the American Dream still worked. And the wars just went on. There was opposition, but never to the point that the troops would not be sent to fight or completely withdrawn once they got there. Indeed, too much of the antiwar leadership abandoned its constituents and joined up with the Obama campaign in 2007, just as the war on Iraq was escalating. That war, and the war on the Afghans continues to this moment. In addition, there are tens of thousands of US forces—military and mercenary—wreaking death and destruction around the globe.

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Predictable.

• Putting a BlackRock Alum in Charge of Greening the Economy (TNR)

This week, the Biden campaign is expected to announce officially that it’s tapped former Obama adviser and current BlackRock executive Brian Deese to head the National Economic Council. The appointment will make Deese the president’s top economic adviser. And in addition to worrying climate activists, the news has again raised concerns about BlackRock’s outsize influence in U.S. politics. Deese has long been on the no-go lists of progressives tracking Biden appointments, thanks to his BlackRock background. New York Communities for Change and the Sunrise Movement protested the rumors of Deese’s appointment outside the company’s Manhattan headquarters last week.

His advocates and defenders, including climate wonks and Obama alums, have praised his character, record on conservation, role in helping negotiate the Paris Agreement, as well as the fact that he joined BlackRock to head the investment management giant’s sustainable investment strategy after his brief stint working on climate issues for Obama. Many are excited by the prospect of having an NEC head who spends time thinking about climate change. By all accounts, Deese is indeed a nice guy. But to suggest his record makes him a good fit for a position steering and greening the U.S. economy rests on fundamental misunderstandings of Deese’s climate credentials, BlackRock’s ambitions, and the crisis at hand.

Deese has now spent more time advising BlackRock on climate than the White House. But his governmental record deserves scrutiny, too. Before taking over the climate portfolio from John Podesta, he worked for the NEC and as deputy and then acting director of the Office of Management. He described his role as “showing the American people how we can do more effectively with less” and preached “fiscal discipline”—a troubling inclination given how desperately the current economy and climate crisis need government spending. He also championed the Trans-Pacific Partnership, which would have doubled U.S. exposure to pernicious investor-state dispute settlements, allowing companies to sue governments that infringe on their profits (for example, through robust climate policy). During his two years as Obama’s climate adviser, Deese defended Arctic drilling and boasted about increases in “both renewable and traditional” energy production, though he did also work to withdraw certain portions of the Arctic Ocean from mineral leasing.

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Dind’t Trump just yesterday say: See you in 2024?

• Trump Raises At Least $150 Million Since Election Day (JTN)

President Trump has raised at least $150 million since Election Day nearly one month ago, according to multiple news reports. The donations have poured in, as the Trump campaign continues to solicit donations to fuel its legal efforts in several key states to uncover voter fraud and overturn the results of the election. The campaign has raised as much as $170 million, according to The New York Times, while other news outlets have reported an amount closer to $150 million. Either amount is approximately equivalent to the numbers coming in to the campaign coffers at the height of the president’s reelection bid.


The Times also reports that 75% of each donation will go to a new political action committee established by Trump and his staff called “Save America.” The other 25% will go to the Republican National Committee. The donations will allow the campaign to pay off outstanding, post-election debt. It will also allow the president to fund post-presidency political activities. Trump has not publicly stated his political intentions should his election challenges fail.

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Everyone deserves to be heard.

• Whistleblowers Allege Ballots Crossed State Lines, Disappear, Backdating (JTN)

Sworn testimony of several whistleblowers on Tuesday alleged what one election integrity activist is calling “potential ballot fraud on a massive scale,” with multiple eyewitnesses testifying to alleged suspicious behavior in Pennsylvania and Wisconsin. In a press conference in Arlington, Va., the Amistad Project — a civil liberties initiative of the Thomas More Society — presented the testimony of three individuals who claim to have witnessed apparent voting malfeasance during the 2020 election. One, Jesse Morgan, a truck driver for a subcontractor with the United States Postal Service, claimed that a trailer he was driving, one full of potentially upwards of 288,000 ballots, disappeared from its parked location at a Lancaster, Pa. USPS depot after Morgan dropped it off there. Morgan had transported those ballots from Bethpage, N.Y.

The subcontractor also reportedly experienced “odd behaviors” from USPS personnel, behaviors which postal experts have said in sworn statements “grossly deviate[d] from normal procedure and behavior,” according to a press release from the Amistad Project. Another whistleblower, Nathan Pease of Madison, Wisc. — himself also a subcontractor for USPS — alleged that he was told the postal service was planning to backdate tens of thousands of ballots in the days after the Nov. 3 election in order to circumvent the ballot submission deadline. A third witness, Gregory Stenstrom — who testified at a Pennsylvania legislature hearing in Gettysburg last week — claimed to have witnessed a Dominion Voting Systems vendor inserting jump drives into voting aggregation machines in Delaware County, Pa.

Election officials also reportedly commingled various jump drives from aggregation machines, potentially frustrating the ability of auditors to properly certify the election results. In its press release, Amistad Project Director Phill Kline said the testimonies are “compelling” and that they provide “powerful eyewitness accounts of potential ballot fraud on a massive scale.” “This evidence joins with unlawful conduct by state and local election officials, including accepting millions of dollars of private funds, to undermine the integrity of this election,” Kline said. In the press release, the Amistad Project says it has collected sworn expert testimony alleging that “over 300,000 ballots are at issue in Arizona, 548,000 in Michigan, 204,000 in Georgia, and over 121,000 in Pennsylvania.”

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Bernie’s ideas.

• Why the Fed Needs Public Banks (Ellen Brown)

The Fed’s policy tools – interest rate manipulation, quantitative easing, and “Special Purpose Vehicles” – have all failed to revive local economies suffering from government-mandated shutdowns. . The Fed must rely on private banks to inject credit into Main Street, and private banks are currently unable or unwilling to do it. The tools the Fed actually needs are public banks, which could and would do the job. [..] Private banks are not following through on the Fed’s attempted money injections, but publicly-owned banks would. In countries with strong government-owned banking systems, public banks have historically increased their lending when private banks pulled back. Public banks have a mandate to stimulate their local economies; and unlike private banks, they can do it and still turn a profit, because they have lower costs.

They have eliminated the parasitic profit-extracting middlemen, and they do not have to focus on short-term profits to please their shareholders. They can pour their resources into improving the long-term prospects of the economy and its infrastructure, stimulating local productivity and strengthening the tax base. Three promising new bills are before Congress that would facilitate the establishment of a public banking system in the US. HR 8721, ”The Public Banking Act”, was introduced on Oct. 30, 2020. As described on Vox, the Act would “foster the creation of public [state and local government-owned] banks across the country by providing them a pathway to getting started, establishing an infrastructure for liquidity and credit facilities for them via the Federal Reserve, and setting up federal guidelines for them to be regulated. Essentially, it would make it easier for public banks to exist, and it would give some of them grant money to get started.”

In September, Sens. Bernie Sanders and Kirsten Gillibrand also introduced The Postal Banking Act, which they said would • Create $9 billion in revenue for the postal service, saving it from privatization; • Protect low-income or rural families and communities from predatory lending; and • Reestablish postal banking to provide basic, low-cost financial services to those who cannot access banks. The third bill, HR 6422, “The National Infrastructure Bank Act of 2020,” is modeled on Franklin Roosevelt’s Reconstruction Finance Corporation, which funded the rebuilding of the US economy in the Great Depression of the 1930s. According to its advocates, HR 6422 will build or restore over $4 trillion in infrastructure and create up to 25 million union jobs, while being “revenue neutral” (not burdening the federal government’s budget).

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Trickling up.

• The Rich Cheer Wall Street’s Latest Records. The Rest Drain 401(k)s (CP)

The all-time record highs that Wall Street has registered this week have given some Americans — the nation’s already rich — considerable cause for celebration. And the rest of the nation? Tens of millions of Americans are paying precious little attention to the chirpy tale of Wall Street’s ticker. The simple reason: They own no stocks at all. Millions of other Americans who do own stocks don’t see any reason to celebrate either. They’re finding themselves forced, amid pandemic economic collapse, to start selling the stocks that make up the bulk of their retirement savings. How best to start understanding this story? The best place to begin: The latest numbers on stock ownership from the Federal Reserve. Fed researchers have been tracking who exactly owns the stocks that trade every business day on Wall Street ever since 1989.

Back nearly 30 years ago, in 1992, the share of stock nationally that belongs to America’s poorest half of households hit an all-time high. That “high” amounted to all of a miniscule 1.6 percent. How much of America’s stock wealth does the bottom 50 percent hold these days? At the end of this past June, the most recent Federal Reserve data point available, the nation’s poorest half held less than 1 percent of the nation’s stock holdings, just 0.6 percent. The nation’s poorest 90 percent, all combined, now hold just 11.8 percent of the nation’s stocks. Numbers like these help explain why massive numbers of Americans didn’t rush out onto the streets to cheer earlier this week when two top Wall Street benchmarks, the Dow Jones industrial average and the S&P 500, hit their own all-time record summits.

Shares of stock — either held directly or through mutual funds — make up just 2.3 percent of the total assets of households in the bottom 50 percent and a mere 7.6 percent of the assets the rest of the bottom 90 percent hold. America’s richest 1 percent, on the other hand, have plenty of reason to celebrate Wall Street records. Stock holdings make up over 40 percent of top 1 percent household wealth. These 1 percenters, overall, hold 52.4 percent of the nation’s stock, a share almost five times greater than all the stock that households in the bottom 90 percent hold. This top 1 percent share has been steadily increasing. Since 1989, the year the Fed started keeping track, the top 1 percent share of the nation’s stock holdings has jumped 22 percent. The bottom 90 percent share has dropped 33 percent.

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“..the buzz in Beijing is that the financial industry should serve the real economy and people..”

• Ray Dalio’s Chart Hints At What Beijing Is Really Up To (Xie)

Another day, another stock record. The S&P 500 soared to a fresh all-time high on Tuesday, while the yield curve steepened on optimism about more fiscal stimulus and the imminent deployment of vaccines. The seeming disconnect between financial markets and the economy is kind of surreal, considering that 11 million people remain unemployed and the virus is spiraling out of control. The fact that U.S. policy makers are still pedal-to-the-metal with monetary stimulus stands in sharp contrast to China, where officials have set their sights on an exit from loose policy. Consider recent events: Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, described China’s property market as the biggest “gray rhino” – an obvious yet ignored financial risk.


Guo also pledged to impose “special and innovative regulatory measures” on financial technology behemoths such as Jack Ma’s Ant Group. The recent regulation changes have essentially put these fin-tech companies under the similar supervision umbrella as traditional banks to avoid excessive leverage. Beijing has allowed a number of SOEs to default, breaking the implicit government guarantee. PBOC Governor Yi Gang vowed to avoid monetizing government debt. In addition, officials have said low interest rates contributed to social inequality. Clearly, there’s a sense of urgency to address financial risks and close the gap between markets and the economy. In the meantime, the buzz in Beijing is that the financial industry should serve the real economy and people.

What China is doing makes perfect sense in the context of the big economic cycle described by Ray Dalio. In his latest essay published Tuesday, Bridgewater’s founder showed that China is in the midst of a debt bubble and the beginning of widening wealth gap. Apparently, China wants to tackle both before it’s too late. In contrast, the U.S. has passed the peak of its economic power, settling into the stage of money printing after the burst of the debt bubble, according to Dalio. “It is in this stage when there are bad financial conditions and intensifying conflict,” wrote Dalio. “Classically this stage comes after periods of great excesses in spending and debt and the widening of wealth and political gaps and before there are revolutions and civil wars. United States is at a tipping point in which it could go from manageable internal tension to revolution and/or civil war.”

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Vultures all around.

• Debenhams ‘Never Recovered From Private Equity Ownership’ (G.)

Coronavirus store closures may have been the final nail in the coffin for Debenhams but retail experts argue the department store chain never recovered from a brutal period in the hands of priv ate equity. The retailer was taken over in 2003 by a private equity consortium. The trio of funds, TPG, CVC Capital and Merrill Lynch, made huge returns from their £600m investment, collecting £1.2bn in dividends despite owning the company for less than three years. Debenhams owed around £100m when it was taken private but, by the time it returned to the stock market in 2006, that debt had swollen to more than £1bn. After the retailer’s subsequent poor performance, the deal came to epitomise the worst excesses of the private equity model – the “quick flip” whereby investors buy a listed business cheaply, load it with debt and then refloat it at a big profit.


The private equity consortium installed Rob Templeman, fresh from lucrative private equity revamps of Homebase and Halfords, to overhaul Debenhams. His plan was to cut costs at the same time as increasing sales and profit margins. He also used price cuts to clear products that weren’t selling, but regular discounting was blamed for dragging the brand downmarket. The consortium had used £1.1bn of debt to acquire the business and Templeman cut borrowing costs by remortgaging some of the stores. In 2005, 23 shops were sold for £495m. Debenhams leased the stores back, on expensive rent deals up to 35 years in length. Blaming private equity for Debenhams’ demise is “100% justified”, said veteran retail analyst Richard Hyman. “At the very time when the sort of massive changes we’re seeing today were embryonic, Debenhams’ wherewithal to react, ie money, was removed. It was removed into the bank accounts of private equity investors. That is the truth of it.”

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AI and complexity.

• One Of Biology’s Biggest Mysteries ‘Largely Solved’ By AI (BBC)

One of biology’s biggest mysteries has been solved using artificial intelligence, experts have announced. Predicting how a protein folds into a unique three-dimensional shape has puzzled scientists for half a century. London-based AI lab, DeepMind, has largely cracked the problem, said the organisers of a scientific challenge. A better understanding of protein shapes could play a pivotal role in the development of novel drugs to treat disease. The advance by Google-owned DeepMind is expected to accelerate research into a host of illnesses, including Covid-19. Their program determined the shape of proteins at a level of accuracy comparable to expensive and time-consuming lab methods, said independent scientists.

Dr Andriy Kryshtafovych, from University of California (UC), Davis in the US, one of the panel of scientific adjudicators, described the achievement as “truly remarkable”. “Being able to investigate the shape of proteins quickly and accurately has the potential to revolutionise life sciences,” he said. Proteins are present in all living things where they play a central role in the chemical processes essential for life. Made up of strings of amino acids, they fold up in an infinite number of ways into elaborate shapes that hold the key to how they carry out their vital functions.Many diseases are linked to the roles of proteins in catalysing chemical reactions (enzymes), fighting disease (antibodies) or acting as chemical messengers (hormones such as insulin).

“Even tiny rearrangements of these vital molecules can have catastrophic effects on our health, so one of the most efficient ways to understand disease and find new treatments is to study the proteins involved,” said Dr John Moult of the University of Maryland, US, the chair of the panel of scientific adjudicators. “There are tens of thousands of human proteins and many billions in other species, including bacteria and viruses, but working out the shape of just one requires expensive equipment and can take years.”


A DeepMind model of a protein from the Legionnaire’s disease bacteria (Casp-14)

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