Jul 172022
 
 July 17, 2022  Posted by at 8:58 am Finance Tagged with: , , , , , , , ,  41 Responses »


Pablo Picasso Guernica 1937

 

Germany Is Facing The Biggest Crisis The Country Has Ever Had (Cody)
Berlin’s Quit Decades Of Courting Both Moscow And Washington (Davydov)
The War Of Economic Corridors Is In Full Swing (Escobar)
Republicans Wince As Their Ukrainian-born Colleague Thrashes Zelensky (Pol.)
In Search of Enemies (Femi Akomolafe)
Italy May Soon Be Unable To Arm Ukraine – Foreign Minister (RT)
To Hell or Not to Hell? (Batiushka)
‘Experts’ Broke The World. But They’re Rapidly Losing Power… (Black)
Gazprom Requests Documents On Nord Stream Turbine Return (RT)
Saudi Arabia Outlines What It Will Do For Oil Output (RT)
Biden Visits Saudi Arabia, Returns with an Empty Tin Cup (CTH)
China Issues Phosphate Quotas To Rein In Fertiliser Exports (R.)
Dr. Birx Praises Herself While Revealing Ignorance, Treachery, and Deceit (BI)
Judge Questions FBI’s Aggressive Arrest Of Peter Navarro (ZH)
Ankara Not Likely To Accept F-16 Strings (K.)

 

 

 

 

Emmanuel
https://twitter.com/i/status/1548256134020022273

 

 

 

 

 

 

And it will export that crisis.

Germany Is Facing The Biggest Crisis The Country Has Ever Had (Cody)

Germany is facing an unprecedented crisis due to a potential Russian gas cut that will erase the prosperity Germans have grown accustomed to, warned Rainer Dulger, head of the Confederation of German Employers’ Associations. “We are facing the biggest crisis the country has ever had. We have to be honest and say: First of all, we will lose the prosperity that we have had for years,” Dulger told the Süddeutsche Zeitung regarding the consequences of a gas shortage to everyone. While many are urging more government intervention to help prop up the German economy, Dulger argues that in general, the fewer the interventions, the better. He says that when it comes to the economy, private businesses always do better than the government.

However, he does believe certain measures need to be implemented to provide support for people in increasingly stressed economic situations. “More net earnings from the gross amount must now arrive into every citizen’s account,” he claimed, emphasizing the importance of not reducing the net income of the citizens and ensuring the fair redistribution of profits generated during the crisis. Dulger is not the only one warning of a crisis in Germany. Economy Minister Robert Habeck warns of a “catastrophic winter” ahead over Russian gas cut fears. According to him, Germany will face a “crucial test that we haven’t faced for a long time.” Other experts are predicting mass bankruptcies, inflation, and energy rationing that will send “shockwaves” through the German economy.

The Bavarian Business Association (VBW) warned that as many as 5.6 million jobs across Germany could be lost in the case of a gas supply stoppage from Russia. According to the association’s calculations, a German boycott of Russian gas could also reduce the country’s economic output by 12.7 percent, with immediate abandonment of the raw material hitting the glass, iron, and steel industries particularly hard; losses in these sectors would be almost 50 percent. Dulger sees the significant cause of the current situation as the lack of ability to be self-sufficient. For too long, Germany had disregarded something that former German Chancellor Helmut Schmidt warned about in the 1970s. When deliveries of gas to Russia began at the time, Schmidt said: “We can do it, but we must not depend on Russian gas for more than 30 percent.”

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Post-WWII took a lot of diplomacy. That is now gone.

Berlin’s Quit Decades Of Courting Both Moscow And Washington (Davydov)

Germany’s new leadership has gone “all in” on its alliance with the US, overturning a strategy that had underpinned its success What was known as the “memory culture” was an essential element of the foreign policy strategy of post-war Germany. Wise leaders were able to gradually restore the importance of the country on the international stage and achieve strategic goals. A prime example was Chancellor Willy Brandt’s ‘Ostpolitik,’ based on ideas of repentance and overcoming post-war enmity. The historical reconciliation between Bonn and the USSR became the basis for the future unification of Germany – solving the main task of the country’s political elites after the end of World War II.

However, less gifted politicians find historical memory a handicap and a hardship. For neighbours, the ambitions of German leadership in Europe bring back painful memories. Indeed, historical documents such as the Treaty of German Unification, limit the military capabilities of the state – which is a direct obstacle to Chancellor Olaf Scholz’s dream for the creation of “the strongest army in Europe.” Today, the image of a peace-loving nation that has re-educated itself after the tragedy of two world wars does not fit well with active arms deliveries to Ukraine. “This war must end,” Scholz recently warned, while in Kiev. Meanwhile, his government’s website is regularly updated with information on weapons already delivered and planned to be delivered to the Ukrainians. This is what you might call a paradox.

Let’s look at some of the rhetoric coming out of Berlin. On June 21, on the eve of Russia’s Day of Remembrance and Sorrow, Economy Minister Robert Habeck called the reduction of Russian gas supplies “an attack on Germany.”Foreign Minister Annalena Baerbock has claimed that “Russia deliberately uses hunger as a weapon.” By the way, behind the unfounded lies are real historical data – more than four million Soviet citizens were starved to death during the Nazi occupation. At the G7 summit last month, Scholz called on participants to prepare a new “Marshall Plan”for Ukraine, twisting the meaning of the programme that helped Western Europe recover from the horrors of fascism. It feels like a policy of remembrance is being replaced by a policy of deliberate amnesia.

[..] Scholz’s approach is the opposite of what Willy Brandt and his followers worked on. Berlin has finally narrowed the once dynamic and multifaceted eastern policy solely in support of Kiev. In international relations, however, simplification rarely reduces contradictions. This sort of primitivization does not add credibility to the German leadership, but it does raise doubts about its competence. The granting of EU candidate status to Ukraine, actively supported by Berlin, could also turn out to be an embarrassment. And it is not just about the five other official members of the waiting list and several potential contenders, who have been waiting or are still waiting years for this decision, all the while trying to fulfil the EU’s strict requirements. In Germany’s foreign policy approach, showmanship and symbolism are gradually replacing order and consistency.

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“..all five Caspian Sea littoral states agreed that no NATO warships or bases will be allowed on site…”

The War Of Economic Corridors Is In Full Swing (Escobar)

The War of Economic Corridors is now proceeding full speed ahead, with the game-changing first cargo flow of goods from Russia to India via the International North South Transportation Corridor (INSTC) already in effect. Very few, both in the east and west, are aware of how this actually has long been in the making: the Russia-Iran-India agreement for implementing a shorter and cheaper Eurasian trade route via the Caspian Sea (compared to the Suez Canal), was first signed in 2000, in the pre-9/11 era. The INSTC in full operational mode signals a powerful hallmark of Eurasian integration – alongside the Belt and Road Initiative (BRI), the Shanghai Cooperation Organization (SCO), the Eurasian Economic Union (EAEU), and last but not least, what I described as “Pipelineistan” two decades ago.

Let’s have a first look on how these vectors are interacting. The genesis of the current acceleration lies in Russian President Vladimir Putin’s recent visit to Ashgabat, Turkmenistan’s capital, for the 6th Caspian Summit. This event not only brought the evolving Russia-Iran strategic partnership to a deeper level, but crucially, all five Caspian Sea littoral states agreed that no NATO warships or bases will be allowed on site. That essentially configures the Caspian as a virtual Russian lake, and in a minor sense, Iranian – without compromising the interests of the three “stans,” Azerbaijan, Kazakhstan and Turkmenistan. For all practical purposes, Moscow has tightened its grip on Central Asia a notch.

As the Caspian Sea is connected to the Black Sea by canals off the Volga built by the former USSR, Moscow can always count on a reserve navy of small vessels – invariably equipped with powerful missiles – that may be transferred to the Black Sea in no time if necessary. Stronger trade and financial links with Iran now proceed in tandem with binding the three “stans” to the Russian matrix. Gas-rich republic Turkmenistan for its part has been historically idiosyncratic – apart from committing most of its exports to China. Under an arguably more pragmatic young new leader, President Serdar Berdimuhamedow, Ashgabat may eventually opt to become a member of the SCO and/or the EAEU. Caspian littoral state Azerbaijan on the other hand presents a complex case: an oil and gas producer eyed by the European Union (EU) to become an alternative energy supplier to Russia – although this is not happening anytime soon.

Iran’s foreign policy under President Ebrahim Raisi is clearly on a Eurasian and Global South trajectory. Tehran will be formally incorporated into the SCO as a full member in the upcoming summit in Samarkand in September, while its formal application to join the BRICS has been filed. Purnima Anand, head of the BRICS International Forum, has stated that Turkey, Saudi Arabia and Egypt are also very much keen on joining BRICS. Should that happen, by 2024 we could be on our way to a powerful West Asia, North Africa hub firmly installed inside one of the key institutions of the multipolar world. As Putin heads to Tehran next week for trilateral Russia, Iran, Turkey talks, ostensibly about Syria, Turkish President Recep Tayyip Erdogan is bound to bring up the subject of BRICS.

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Ukraine corruption is on the list of things we can’t talk about.

Republicans Wince As Their Ukrainian-born Colleague Thrashes Zelensky (Pol.)

House Republicans gave Ukraine-born Rep. Victoria Spartz a coveted platform to speak out against Russia’s war. They’re coming to regret that. Spartz (R-Ind.), who has traveled to Ukraine a half-dozen times since the war began and spoken passionately about the conflict, shocked lawmakers in both parties recently with her intense criticisms of the country’s president, Volodymyr Zelenskyy, and his confidants. She drew a rare rebuke last weekend from the Ukrainian Foreign Ministry, which accused her of “trying to earn extra political capital on baseless speculation.” Inside the House GOP Conference, there’s a widespread fear that her posture is damaging U.S.-Ukraine relations at the worst possible time — and that she’s being played by forces that aim to weaken the Western alliance.

GOP national-security hawks also worry that the MAGA wing of their party, where there’s already resistance to supporting Ukraine, will point to Spartz’s comments as justification.They’re concerned that Spartz’s public break from Zelenskyy — and her corruption accusations about his closest aides — could portend future cracks in U.S. support for Ukraine, especially as the midterm elections approach. “Her naiveness is hurting our own people,” said a GOP lawmaker who serves on the House Foreign Affairs Committee, granted anonymity to speak candidly about a colleague. “It is not helpful to what we’re trying to do and I’m not sure her facts are accurate … We have vetted these guys.” The Republican warned that Spartz’s comments could “hurt” the war effort.

Asked for comment on Spartz’s remarks, one senior House Republican who was granted anonymity for the same reason offered a blunt reply: “What the fuck.” A third House Republican granted anonymity to speak candidly about Spartz said she has a reputation for elbowing her way into briefings and meetings for committees she doesn’t belong to, like the Foreign Affairs panel, where multiple members have tried to address her comments behind closed doors. The Biden administration is even getting involved — another sign of growing worries that Spartz’s comments may damage cohesion among the Western coalition in defense of Kyiv. A Foreign Affairs Committee aide, speaking on condition of anonymity, said the U.S. intelligence community is planning to brief Spartz about her claims in a classified setting Friday morning.

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“It’s the wrong game for a great nation. And the players we’ve got are losers.”

In Search of Enemies (Femi Akomolafe)

We are in July and while the Russians are not letting up on the grinding of the Ukrainian forces, the West has already lost interest in its latest misadventure. Many Western countries have already announced that they have no more weapons to spare, and the EU’s powerhouse, Germany, has been reduced to dusting off ancient mothballed tanks to send off to battle against an already defeated Russians! That’s when German officials are not too busy trying to placate an irascible and ungrateful Ukrainian officials with an obscene and gratuitous sense of entitlement. Or maybe the Ukrainians should feel perfectly entitled since they were foolish enough to sell off their country for whatever pieces of silver they got!

The question here is: Why are Westerners so dumb that they cannot ask where their leaders who can’t find the money to repair their shattered economies, suddenly find the money to provide weapons to Nazis in Ukraine? Another question: After the war is settled – in Russia’s favor (my bet), do Westerners expect the Russians to forgive them for providing support to Nazis 2.0? For a people without enough resources to cater for themselves, and one that proclaims its rationality all the time, it is beyond belief that Westerners keep on searching for enemies! Besotted with their self-generated image of superiority, Westerners appear to live in a bubble, unaware of what goes on outside their self-created cocoon.

The Russians made it plain what they felt about the West’s insane push to their borders. From President V Putin to FM Lavrov to the inimitable Spokeswoman for the Russian FM, Maria Zakharova, the Russians told whoever would listen that there were bound to be severe repercussions if their core security concerns were ignored. Ignored them, the West did. Last year, the Russians emphasized the urgency of their concerns by dispatching drafts of Treaties to both Washington and Brussels. The West rather haughtily brushed them aside. The Russians openly warned about taking “technical and military” means if the West persists in its folly. The West arrogantly ignored the warnings.

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Arming Ukraine is not biggest problem here: “If the government falls on Wednesday, we won’t have the power to sign any new energy contracts and this is serious because we are headed into winter..”

Italy May Soon Be Unable To Arm Ukraine – Foreign Minister (RT)

Political turmoil in Italy could soon see Rome unable to continue supporting Ukraine with weapons deliveries, the country’s foreign minister has warned. According to Luigi Di Maio, this would be the case should the incumbent government not survive a no-confidence vote next week. In a phone interview with US media outlet Politico on Friday, Di Maio said that those in Italy who want the collapse of Prime Minister Mario Draghi’s government are playing into the hands of the Kremlin. “The Russians are right now celebrating having made another Western government fall,” the minister argued. Di Maio went on to express doubt as to whether Italy will be able to keep supplying arms to Ukraine under these circumstances, adding that “it is one of the many serious problems.”

The official explained that, should the government collapse, it would still remain in power for some time in a caretaker capacity. However, in this case, its powers would be reduced, meaning, among other things, that the government wouldn’t be able to continue weapons deliveries to Ukraine. “If the government falls on Wednesday, we won’t have the power to sign any new energy contracts and this is serious because we are headed into winter,” the minister added. According to Di Maio, Italy could also end up without a 2023 budget as the document is normally passed by parliament between July and December. Should there be elections in September or October, however, it could take months before a new coalition government is formed, meaning that the budget would be postponed, the minister explained.

He added that it took 100 days to form a government the last time. On Thursday, the Five Star Movement, which is part of Prime Minister Draghi’s coalition government, boycotted a no-confidence vote, with the premier offering to resign in response. However, Italy’s President Sergio Mattarella refused to accept his resignation, with Draghi’s government facing another no-confidence vote on Wednesday. Di Maio, who had been one of the Five Star Movement’s leaders but left the party last month over a row concerning arms deliveries to Ukraine, laid into his former allies, accusing them of “helping Putin’s propaganda and autocracy over democracy.”

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“..the world that started on 12 October 1492 died on 24 February 2022..”

To Hell or Not to Hell? (Batiushka)

In recent months, here and there in various Western European countries, I have seen two or three flags being flown together, the EU One Ring ‘to rule them all’, sometimes the local national flag, and beneath it the Ukrainian one. This represents Western supremacism, the Nazi ideology which proclaims the long-desired Westernisation of the Ukraine. It says that any who do not accept ‘Western values’ are to be destroyed or, as they say now, ’cancelled’ – with Western fake news, Western arms and Western death. Who are today’s aristocratic warlords, today’s Franks, Lombards, Goths, Vandals and Vikings? They are Stoltenberg, Biden, Johnson, von der Leyen, Blinken, Nuland, Kagan, Scholz, Macron and all the other knowing and unknowing neocons who fly these flags together.

The barbarians were there sacking civilisation in August 476 and in August 1914, they were there sacking civilisation in late 1492 and in early 2022. However, the world that started on 12 October 1492 died on 24 February 2022 and a new era has begun. On 14 July 2022 the Serbian President Vucic said: ‘Now the whole Western world is at war with Russia through Ukrainian intermediaries and today’s armed conflict can almost be called a world war’. ‘I know what awaits us. As soon as Vladimir Putin has finished his work in Seversk, Bakhmut and Soledar and then reaches the second line in Slaviansk-Kramatorsk-Avdeevka, he will make an offer. And if they (the West) don’t accept – and they don’t intend to – we shall take the road to hell’.

So what happens if the Western world chooses not to go to hell? What happens after the barbarians, after the final demise of the myths of ‘The West and the Rest’ and ‘The West is Best’? At the moment, the alternative is an alphabet soup of BRI, BRICS, EAEU, SCO etc. BRICS itself is becoming old-fashioned, as it may well soon be joined by Iran, Turkey, Egypt, Saudi Arabia and maybe Argentina and then, who knows? Does that make BRICSITESAA? An alternative name like ‘The Anti-West’ is purely reactive, negative and refers to the 530 years before 24 February 2022. It is especially inappropriate since the EU is clearly collapsing and it is obvious that, at the very least, countries like Serbia, Hungary (whom the EU elite wishes to expel from the EU) and Germany, if it is to survive, will be joining the to-be-renamed BRICS.

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“..there are a lot of solutions and technologies on the horizon that could make this all go away relatively quickly… just as soon as they get out of the way.”

‘Experts’ Broke The World. But They’re Rapidly Losing Power… (Black)

It’s rare to find someone, anyone, who has yet to witness, hear about, or directly experience the devastating consequences of the supposed leadership that ‘experts’ have unleashed on us over the past few years. They have engineered and mishandled crisis after crisis after crisis… The world over, from California to Sri Lanka, people everywhere are suffering from their incompetence. Western Europe is on the verge of a major energy crisis; the 4th-largest economy in the world (Germany) is dimming its street lights lights and thinking about firing up its coal power plants (previously considered UNTHINKABLE!) because they’re running out of energy. Even in Texas, which could be considered the world’s 10th-largest economy by GDP, the independent energy grid is so fragile that power companies are remotely turning down people’s home thermostats to save on energy supply.


We have also just seen a leaked hour+ video showing the ‘authorities’ in Uvalde, Texas– fully armed law enforcement professionals– ignoring the literal screams of dying children only a few dozen feet away. Instead they texted on their phones and sanitized their hands. You know, because of Covid. I guess that was the priority. All of this is an utter indictment of how pitifully our experts and authorities have betrayed us. In short, the people in charge broke the world. But the good news is that their reign of ineptitude is rapidly coming to an end.. That much is obvious. And even better, there are a lot of solutions and technologies on the horizon that could make this all go away relatively quickly… just as soon as they get out of the way.

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It’s still not moving.

Gazprom Requests Documents On Nord Stream Turbine Return (RT)

Russian state energy major Gazprom has officially asked German industrial giant Siemens to provide documents allowing the return of a crucial gas turbine, which had been stuck at the firm’s Canada factory due to sanctions. “On July 15, Gazprom officially requested Siemens to provide documents that, in spite of the current sanctions regimes of Canada and the European Union, would allow the export of a gas turbine engine for the Portovaya compressor station, a critically important facility for the [Nord Stream] gas pipeline, to Russia, and the fulfillment by the Siemens group of companies of its obligations regarding the repair and maintenance of gas turbine engines,” the statement by Gazprom read, as cited by Interfax news agency.

Gazprom warned that failure to return the turbine would jeopardise the functioning of the Nord Stream pipeline, linking Russia to Germany, and the supply of natural gas to European consumers. The Nord Stream pipeline, one of the main routes for Russian gas exports to Europe, is currently out of action due to a scheduled 10-day maintenance period. However, prior to the shutdown it had been operating at just 40% of capacity for several weeks, due to a turbine from the pipeline’s Portovaya compressor station being stuck at the Siemens facility in Montreal, where it had undergone repairs.

Canada initially refused to return the device, due to sanctions arising from the Ukraine conflict. However, after negotiations with Berlin, Ottawa earlier this week decided to allow the turbine to be shipped back. It will first travel to Germany, and from there to Russia, allowing Canada to avoid violating its own sanctions by using an indirect delivery route. The documents requested by Gazprom are necessary to facilitate the final trip of the turbine from Germany to Russia.

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Very little.

Saudi Arabia Outlines What It Will Do For Oil Output (RT)

Saudi Arabia is ready to increase oil production to its maximum of 13 million barrels per day but does not have the capacity to pump out more, Crown Prince Mohammed bin Salman said during his address at the US-Arab summit in Jeddah on Saturday. “The kingdom has announced an increase in its production capacity level to 13 million barrels per day, after which the kingdom will not have any additional capacity to increase production,” he was quoted as saying by UAE’s newspaper The National. The crown prince also said that the global community should join forces to support the global economy, but noted that unrealistic policies regarding energy sources would only worsen the situation.

“Adopting unrealistic policies to reduce emissions by excluding main sources of energy will lead in coming years to unprecedented inflation and an increase in energy prices and rising unemployment, and a worsening of serious social and security problems,” he stated. Mohammed bin Salman’s words come a day after his talks with Joe Biden, who was in Saudi Arabia on his first visit as US president, and urged the kingdom to increase oil production in order to reduce global reliance on supplies from Russia. Commenting on his trip to the kingdom, Biden said Saudi Arabia’s “energy resources are vital for mitigating the impact on global supplies of Russia’s war in Ukraine.”

Saudi Arabia, one of the globe’s largest oil exporters and the leading producer within the Organization of the Petroleum Exporting Countries (OPEC), currently pumps out more than 12 million barrels of oil per day. The kingdom previously said it plans to reach production capacity of 13 million barrels per day by 2027. The Crown Prince did not reveal whether the timeframe for the boost in capacity has changed

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“Is it any surprise that Mexico’s President Andres Manuel Lopez-Obrador want’s nothing to do with the other two knuckleheaded leaders of North America..?”

Biden Visits Saudi Arabia, Returns with an Empty Tin Cup (CTH)

Joe Biden is heading back from an embarrassing trip to Saudi Arabia and the middle east. Putting aside the fact that physically and mentally Biden looked weak, foolish, and generally incoherent, in an odd way he was appropriately representative of the current of U.S. influence on the global stage. Before getting to detail, first it is important to emphasize a point that doesn’t get attention domestically. Democrats are exceptionally weak on all aspects of foreign policy, specifically because their modern ideology is based on hypocrisy of a stunning magnitude. Domestically, the U.S. media protect democrats by spinning everything into the best light possible. However, on the world stage the non-western leaders like Putin, Xi and MbS use that hypocrisy like geopolitical ammunition.

Examples… Domestically the U.S. media do not bring up the Joe Biden Afghanistan mess, the rise -and current legitimacy- of the terrorist Taliban; or the brutal mess Barack and Hillary created in Libya; or the unauthorized intervention into Syria that created ISIS; or the complete fubar that was an illegitimate invasion of Iraq; or Hillary’s insufferable “reset” in Russia; or their inability to deal with China’s proxy province of North Korea, because they pretend it’s not; or the current circus célebrè in Ukraine. Each region, and there are many more, a typical example of how modern democrats are fundamentally weak on foreign policy. It is not just Joe Biden either; just about every leftist head of state within the alliance of “western democracies” are also pathetically impotent when it comes to influence on a global stage.

The U.K’s Boris Johnson, Canada’s Justin Trudeau, New Zealand’s Jacinda Ardern and France’s Emmanuel Macron are collectively as pathetic as Biden when it comes to leadership and influence. Once they step out of their ‘liberal democracy‘ bubble, and head into a nation that doesn’t have state run media like CNN, MSNBC, The Washington Post, Politico and/or The New York Times, those leaders look like the pathetic fools they are. Biden and the rest of the leftist heads of state decry “autocracy,” and wax philosophically about “western democratic values”, while standing atop two years of their authoritarian pandemic rules, regulations, mandates and unilateral fiats. Consider their chase for their beloved climate change energy policy and contrast it against their political pearl-clutching over the energy inflation they created.

Is it any surprise that Mexico’s President Andres Manuel Lopez-Obrador want’s nothing to do with the other two knuckleheaded leaders of North America who are selling windmills while regulating traditional oil, coal and natural gas out of existence? At a certain point, a good neighbor has to look at the duct-taped landscaping and say this is ridiculous. I digress.

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“..a 45% drop from China’s shipments of 5.5 million tonnes in the same period a year ago.”

China Issues Phosphate Quotas To Rein In Fertiliser Exports (R.)

China is rolling out a quota system to limit exports of phosphates, a key fertiliser ingredient, in the second half of this year, analysts said, citing information from the country’s major phosphate producers. The quotas, set well below year-ago export levels, would expand China’s intervention in the market to keep a lid on domestic prices and protect food security while global fertiliser prices are hovering near record highs. Last October, China also moved to curb exports by introducing a new requirement for inspection certificates to ship fertiliser and related materials, contributing to tight global supply. Fertiliser prices have been buoyed by sanctions on major producers Belarus and Russia, while surging grain prices are boosting demand for phosphate and other crop nutrients from farmers around the world.


China is the world’s biggest phosphates exporter, shipping 10 million tonnes last year, or about 30% of total world trade. Its top buyers were India, Pakistan and Bangladesh, according to Chinese customs data. China appears to have issued export quotas for just over 3 million tonnes of phosphates to producers for the second half of this year, said Gavin Ju, China fertiliser analyst at CRU Group, citing information from about a dozen producers who have been informed by local governments since late June. That would mark a 45% drop from China’s shipments of 5.5 million tonnes in the same period a year ago. [..] Other major producers of phosphates, such as widely used diammonium phosphate (DAP), include Morocco, the United States, Russia and Saudia Arabia. The surge in prices over the last year has raised concerns for Beijing, which needs to guarantee food security for its 1.4 billion people even as all farm input costs surge.

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” So it was all a sleight-of-hand: she was staying home; it’s just that she has several homes! This is how the power elite comply, one supposes..”

Dr. Birx Praises Herself While Revealing Ignorance, Treachery, and Deceit (BI)

The December 2020 resignation of Dr. Deborah Birx, White House Coronavirus Response Coordinator under Trump, revealed predictable hypocrisy. Like so many other government officials around the world, she was caught violating her own stay-at-home order. Therefore she finally left her post following nine months of causing unfathomable amounts of damage to life, liberty, property, and the very idea of hope for the future. Even if Anthony Fauci had been the front man for the media, it was Birx who was the main influence in the White House behind the nationwide lockdowns that did not stop or control the pathogen but have caused immense suffering and continue to roil and wreck the world. So it was significant that she would not and could not comply with her own dictates, even as her fellow citizens were being hunted down for the same infractions against “public health.”

In the days before Thanksgiving 2020, she had warned Americans to “assume you’re infected” and to restrict gatherings to “your immediate household.” Then she packed her bags and headed to Fenwick Island in Delaware where she met with four generations for a traditional Thanksgiving dinner, as if she were free to make normal choices and live a normal life while everyone else had to shelter in place. The Associated Press was first out with the report on December 20, 2020. “Birx acknowledged in a statement that she went to her Delaware property. She declined to be interviewed. She insisted the purpose of the roughly 50-hour visit was to deal with the winterization of the property before a potential sale — something she says she previously hadn’t had time to do because of her busy schedule.

“I did not go to Delaware for the purpose of celebrating Thanksgiving,” Birx said in her statement, adding that her family shared a meal together while in Delaware. Birx said that everyone on her Delaware trip belongs to her “immediate household,” even as she acknowledged they live in two different homes. She initially called the Potomac home a “3 generation household (formerly 4 generations).” White House officials later said it continues to be a four-generation household, a distinction that would include Birx as part of the home.” So it was all a sleight-of-hand: she was staying home; it’s just that she has several homes! This is how the power elite comply, one supposes. The BBC then quoted her defense, which echo the pain experienced by hundreds of millions:

“My daughter hasn’t left that house in 10 months, my parents have been isolated for 10 months. They’ve become deeply depressed as I’m sure many elderly have as they’ve not been able to see their sons, their granddaughters. My parents have not been able to see their surviving son for over a year. These are all very difficult things.” Indeed. However, she was the major voice for the better part of 2020 for requiring exactly that. No one should blame her for wanting to get together with family; that she worked so hard for so long to prevent others from doing so is what is at issue.

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“..Navarro rejected a plea deal offered by prosecutors in the case, proposing to drop one of the two charges and not seek more than the minimum 30-day jail time.”

Judge Questions FBI’s Aggressive Arrest Of Peter Navarro (ZH)

A federal judge has questioned why the FBI made a public spectacle out of arresting former Trump White House adviser Peter Navarro at Reagan National Airport last month, rather than simply summoning him for a court appearance. Navarro was handcuffed, denied food and water, and denied a request to phone his lawyer, as he was on his way to a speaking engagement in Nashville, Tennessee. He faces two misdemeanor contempt of Congress charges for doing exactly what Obama AG Eric Holder did (with zero consequences) – ignore a Congressional subpoena, according to Politico. Of course, Holder was held in contempt for concealing documents related to the “fast & furious” scandal, which was tied to the death of an estimated 150 Mexican civilians – while Navarro is refusing to answer House Democrats’ questions surrounding the 2020 election and the January 6th riot.

“It is curious…at a minimum why the government treated Mr. Navarro’s arrest in the way it did,” US District Court Judge Amit Mehta said during a Friday hearing on Navarro’s case. “It is a federal crime, but it is not a violent crime.” Mehta, a former federal defender, said it was puzzling that prosecutors didn’t just tell Navarro he was going to be charged and allow him to walk into an FBI office, as some white-collar defendants are permitted to do. “It is a surprise to me that self-surrender was not offered,” the judge said. However, he proposed no particular response and did not demand any explanation from prosecutors”. -Politico. The FBI has accused Navarro of making “numerous false statements” about his arrest, and said that his first request to use the phone that day was for a lawyer – rather, a TV producer about a scheduled interview.

One of his lawyers, John Rowley, suggested that the FBI’s treatment suggested “animus” toward Navarro, considering that two other Trump White House aides who similarly ignored subpoenas – Mark Meadows and Dan Scavino – were not charged (much less arrested at an airport). “Rowley also suggested Navarro had been placed in leg irons by the FBI when he was arrested, but his client clarified after the hearing that the shackles were used by deputy U.S. Marshals when he arrived at the courthouse for his initial appearance last month. The FBI agents “are responsible for those leg irons,” Navarro told reporters. It also emerged at the hearing Friday that Navarro rejected a plea deal offered by prosecutors in the case, proposing to drop one of the two charges and not seek more than the minimum 30-day jail time.” -Politico

“This is the first time in our nation’s 250-year history that a senior adviser to a president has been criminally charged for refusing to comply with a congressional subpoena,” said Rowley. “The Justice Department…has longstanding policies about not prosecuting someone criminally for this kind of situation, so I wonder, what changed?….and we intend to find out,” said defense attorney John Irving.

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“..the discussion has even opened up about a possible expulsion of Turkey from the Alliance.”

Ankara Not Likely To Accept F-16 Strings (K.)

The approval this week of a relevant amendment by the US Congress which is seen as a first step to stop the sale of new F-16 aircraft to Turkey and the upgrading of its existing ones has caused optimism in Greece that its positions are being heeded. But there are also several opposing forces at play, which are making the situation complicated. According to Dr Triantafyllos Karatrantos, an analyst at the Hellenic Foundation for European & Foreign Policy (ELIAMEP) think tank, a clearly positive development would be that any agreement to sell or upgrade aircraft to Turkey is accompanied by a strict framework stipulating good neighborly relations and avoiding provocations, disputes or engagement with third countries.

However, he expressed reservations as to whether Ankara would agree to such a restrictive framework at the current juncture. Turkish President Recep Tayyip Erdogan, he said, is in pre-election mode and with the issue of nationalism high on the agenda would not accept such an agreement. He added that it is no coincidence that Ankara, in an attempt to exert pressure on the US administration, is signaling that, just as it did not hesitate to go ahead with the Russian S-400 deal, it will not hesitate to seek another solution for the purchase of fighter jets if the prospect of buying the F-16s does not come to fruition. Meanwhile, in light of Turkey’s stance on Sweden and Finland’s NATO accession process, the discussion has even opened up about a possible expulsion of Turkey from the Alliance.

This position was put forward in a letter to the Financial Times by Mark Wallace, former US ambassador to the United Nations, and Madeleine Joelson, executive director of the NGO Turkish Democracy Project. Karatrantos points out that there is practically no mechanism for expelling a member from NATO, only a voluntary withdrawal procedure.

Read more …

 

 

 

 

 

 

 

China population set to be cut in half…. Nigeria, DR Congo to quadruple

 

 

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Feb 052022
 


Lawrence Alma-Tadema Women of Amphissa 1887

 

 

Omicron is the best vaccine available. You can pick between BA.1 and BA.2. That allows us to do a little overview, also because “new“ findings have come out recently. New only in the sense that the media now report on them for the first time, not because we didn’t already know.

Then again, how would YOU know, if not through Joe Rogan, and his recent guests Dr. Malone and Dr. Mc Cullough, and websites like Peak Prosperity and the Automatic Earth? Media capture has been pretty total for 2 years, because 1/ bad news sells better than good news, and 2/ Big Pharma owns the discussion, through its ownership of media and medical “experts”.

That’s all about to change. Omicron can -and will- still be sold as a potentially devastating disease, but if the numbers don’t add up, people will stop listening and reading. So the media’s hands will be forced. The treatment of Joe Rogan is only the culmination of that, of so many voices since early 2020, and it’s good it led to him.

Because Joe doesn’t care, he’s bigger than all of the media assembling against him, and he did nothing but give some people a voice and a space that were being ostracized -and still are, maybe even more-, and Spotify is a Sweden-based company, which not many will be able to touch.

Yeah, yeah, Neil Young, Joni, Streisand, they’re all in Biden and Pelosi’s age-range, but do you think many people will care who are not over 70, if and when Omicron keeps on lowering death numbers? Or are they more likely to side with Canadian truckers and their ideas of freedom?

Will Justin send the army to “take care” of the protests? You would almost hope so. I don’t think he’s stupid enough, not even him, but he’s in an ugly spot. All he would have had to do is go talk to them, but then that’s the overriding theme here, isn’t it, to not talk, let alone discuss?

The idea has been all along to NOT talk to Dr. Malone and Dr. Mc Cullough, or Joe Rogan, or anyone else who doesn’t toe the Pfizer line. And at some point, like when people realize Omicron is the best vaccine available, all that’s left is to enforce mandates with police or armed forces. As I said, you’d almost hope they do it. The “let them eat cake” moment.

I saw this pic yesterday of a headline from German TV channel NTV, which says Pfizer will sue Denmark for loosening its vaccine mandate, because fewer people will get jabbed, and that means less profit. How much of this will we see?

 

 

Back to reality: We have found (or rather, seen confirmed) in the last 2 weeks or so that:

1/ Masks don’t work. The CDC admitted that the cloth masks they recommended for 2 years have no effect whatsoever. But along their own lines of “evidence”, neither do surgical masks, which have holes 1000x bigger than a virus particle. N95 masks could work to some extent, but only if they’re fitted perfectly, by a professional, every time they’re worn.

Maybe the fact that the US government, and CDC and FDA, waited 2 years in promoting them tells you the whole story. And yes, P100 masks might work to some extent, but at that point we might as well go for full-blown gas-masks. In short, face masks “for Covid” have been as entirely useless as they have been completely destructive, in the lives of all of us, but in particular our children.

But the masks still haven’t been as big a disaster as:

2/ Lockdowns don’t work. For 2 years running, all the media and their loyal followers have been citing the CDC, FDA and Johns Hopkins University. But now that Johns Hopkins releases a report that says lockdowns prevented only 0.2% of potential deaths, crickets are a very popular life form all of a sudden. What’s not to love? But yeah, we get it, good news doesn’t sell. In the same vein, an “imminent” Russian invasion of Ukraine, tanks in the streets of Kyiv, gets a lot more clickbait than “nah, all quiet on the eastern front”.

But the lockdowns haven’t been as big a disaster as (we’re working up to a climax here):

3/ The vaccines don’t work.

3.1/ The vaccines were never needed.

The way to create demand for them was to prohibit all other substances that could have saved millions of lives in prophylaxis or early treatment. As I’ve said repeatedly, I think vitamin D could have prevented 50% of all infections and deaths, zinc could have taken care of the next 25%, and for the remaining quarter an entire scala of repurposed drugs, ivermectin, HCQ, fluvoxamine, melatonin, aspirin etc. would have been enough.

You don’t have to aim for zero. Bring the numbers down by 50-75-90%, and any reason to lock down or wear masks is gone. Pfizer needed to ban all these substances, and ban the possible news coverage of their potential, to get an EUA for its vaccine. And that’s why they were all swept under the carpet. Thing is, there are millions of dead bodies under that carpet, too.

But not only were they never needed:

3.2/ The vaccines don’t work.

To be honest: what we know in early February 2022 is that yes, they do seem to “work” for a few months, we’re not exactly sure how or how long. That should never be a question about a vaccine, however, and if it is, call it something else. Moreover, as far as they “work”, they do that by -trying to- take over control from your immune system, which you cannot survive without. Your best option today is to have an immune system strong enough to fight off the vaccine, which is as insane as it sounds. A booster 3rd or 4th or 12th shot will work for even less time, and in the meantime you run the risk of spike proteins lingering and gathering in all of your organs, including your heart and brain. For the rest of your life.

Because:

3.3/ The vaccines cause enormous damage.

The main issue about mRNA vaccines is not even the scores of vaxxed young athletes dropping dead, or the elevated numbers of 10-15 year olds who have myocarditis, devastating as they are; it’s the long-term consequences, never tested for. I’ve been reading a lot about mRNA and cancer recently. Because I see it pop up all over.

 

 

This will not affect everyone. Some of us have robust immune systems. But those that do not, due to age, obesity, you name it, will see the negative effects of spike proteins and other vaccine “by-products”. Not all in the same way, and not all to the same degree. And not all at the same time either. But you’re still all unleashing (cyto-) toxic elements into your body, your bloodstream, your organs.

You’re unleashing more of them with each next shot, or booster, into a body whose immune system has ever less defense against the invading toxic elements. Because your immune system may have “learned” to defend itself against these elements, but then the jabs add ever more of them, and the original antigenic sin kicks in for real. Until the immune system is overwhelmed and gives up.

So why the shots, and the boosters? It doesn’t appear to have much to do with logic. In Britain, Covid is already less threatening than the flu. You may argue that this is due to the vaccines, but how realistic is that given we know their efficacy drops so fast you need a booster every few months?

 

 

Whereas, if you catch Omicron, and many “Experts” now state that we will all catch it at some point (or more than once), the amount of toxic elements entering your body is manageable. Sure, you may need to boost your immune system, lose weight, change your diet, but how could that ever be a bad thing?

Still, if you combine vitamin D with zinc and perhaps IVM, your chances look much better than with 3-4-5-6 boosters. But, you know, if that’s what you want, go for it. Ditto for face masks, and lockdowns, etc. But with what we know today, there is no reason why anyone should dictate any of these things to you. You’re not any safer because of them.

The main difference appears to be that you, the vaxxed/boosted, have a lot more to be wary about for the rest of your life, 30-40-50 years, from “vaccines” that were poorly tested, and not at all tested for that sort of timespan.

Omicron is a one-off that appears to protect you from all -or most- previous and future Covid variants. The vaccines are geared towards one older variant only, which hardly exists anymore. I won’t advice anyone to get Omicron, but if given the choice between Omicron and Comirnaty, is the choice really that clear?

 

 

 

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Sep 052021
 
 September 5, 2021  Posted by at 8:42 am Finance Tagged with: , , , , , ,  49 Responses »


Pablo Picasso Portrait of Daniel-Henry Kahnweiler 1910

 

UK Care Workers Leave En Masse After Being Told To Get Vax Or Quit (RT)
Israel Virus Czar Calls To Begin Readying For 4th Vaccine Dose (ToI)
Give Pupils Covid Jab To Prevent Virus Running Through UK, Expert Says (G.)
The Virus That Stole Christmas (Sky)
Slowly But Surely, The Stupid Is Failing (Denninger)
Vaccine Voodoo (Rickards)
Rolling Stone ‘Horse Dewormer’ Hit-Piece Debunked (ZH)
I Have Not Been Silenced (Malcolm Kendrick)
The Road to Totalitarianism (CJ Hopkins)
China’s Marxist “Profound Revolution” Is Here (Every)

 

 

Good morning from Athens.

 

 

I hear you can deworm your horse with it too.

 

 

Natural Immunity (compiled)
https://twitter.com/i/status/1432342656642867207

 

 

They make £9.30 an hour and then the gov’t comes in demanding they obey or else.

UK Care Workers Leave En Masse After Being Told To Get Vax Or Quit (RT)

Many care workers in the UK who were told to get vaccinated against Covid-19 or lose their jobs have left the industry en masse for better paid positions at companies such as Amazon, creating massive staffing shortages. According to the Guardian, which spoke to several care home industry officials, “three-quarters of care home operators are reporting an increase in staff quitting since April,” with the reasons being “a desire for less stress and for higher pay” and “to avoid mandatory vaccination, which comes into effect on 11 November.” The newspaper reported that many care workers are leaving for other positions in the NHS, where vaccination has not yet been made compulsory, and for unrelated jobs at companies such as Amazon where they have been offered a 30% increase in pay and other incentives.

One care worker left their £9.30 an hour job to work as an Amazon warehouse picker, which pays £13.50 per hour and also offers a £1,000 joining bonus, according to the report. In response to the mass exodus, the industry is now desperately calling on the government to end its mandatory vaccination policy for care workers, warning that a “catastrophe” is on the horizon. National Care Association executive chairman Nadra Ahmed told the Guardian that the National Health Service (NHS) will ultimately “have to pick up this mess” and called on the government to reconsider its policy, while public service union Unison declared that ministers “must immediately repeal ‘no jab, no job’ laws for care home staff in England to avert a staffing crisis that threatens to overwhelm the sector.”

Unison warned that the “draconian” mandatory vaccination policy is “pushing thousands to the brink of quitting care work” and said the government is “sleepwalking into a disaster” by ensuring a massive shortage of staff during a pandemic. The union also revealed that many care workers – who are already underpaid and overworked – “feel totally undervalued” and that “being bullied” into taking a vaccine they didn’t want was “the last straw” for many in the industry.

Read more …

How many people still get how idiotic this is?

Israel Virus Czar Calls To Begin Readying For 4th Vaccine Dose (ToI)

Israel’s national coronavirus czar on Saturday called for the country to begin making preparations to eventually administer fourth doses of the coronavirus vaccine. “Given that that the virus is here and will continue to be here, we also need to prepare for a fourth injection,” Salman Zarka told Kan public radio. He did not specify when fourth vaccine shots could eventually be administered. Zarka also said that the next booster shot may be modified to better protect against new variants of the SARS-CoV-2 virus that causes COVID-19, such as the highly infectious Delta strain. “This is our life from now on, in waves,” he said. Zarka made similar comments in an interview with The Times of Israel last month. “It seems that if we learn the lessons from the fourth wave, we must consider the [possibility of subsequent] waves with the new variants, such as the new one from South America,” he said at the time.


“And thinking about this and the waning of the vaccines and the antibodies, it seems every few months — it could be once a year or five or six months — we’ll need another shot.” Zarka said that he expects that by late 2021 or early 2022, Israel will be giving shots that are especially adapted to cope better with variants. Israel — the first country to officially offer a third dose — began its COVID booster campaign on August 1, rolling it out to all those over the age of 60. It then gradually dropped the eligibility age, expanding it last week to everyone age 12 and up who received the second shot at least five months ago. As of Friday, over 2.5 million Israelis had received the third dose.

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When the JCVI, the experts, say something we don’t like, well, we have other experts. This is full-on Groucho.

Give Pupils Covid Jab To Prevent Virus Running Through UK, Expert Says (G.)

Schoolchildren should be given the Covid vaccine to avoid allowing the virus to “run through the population”, a leading scientific expert has said, after official vaccine advisers concluded the net health benefit in vaccinating 12- to 15-year-olds was too small. On Friday, the Joint Committee on Vaccination and Immunisation (JCVI) stopped short of a recommending vaccinating healthy 12- to 15-year-olds against Covid, saying “the margin of benefit is considered too small” to support universal vaccination. Ministers could now for the first time defy the advice of the scientific watchdog and push ahead, in a move that highlights a growing divide between government and scientific advisers over the next phase of the vaccination programme.

Prof John Edmunds, a member of the government’s scientific advisory group for emergencies, said ministers must consider the “wider effect Covid might have” on unvaccinated children. “It’s a very difficult one, they’re going to take a wider perspective than the JCVI took, I think that’s right,” he told BBC Radio 4’s Today programme on Saturday. “I think we have to take into consideration the wider effect Covid might have on children and their education and developmental achievements. “In the UK now, it’s difficult to say how many children haven’t been infected but it’s probably about half of them, that’s about 6 million children, so that’s a long way to go if we allow infection just to run through the population, that’s a lot of children who will be infected and that will be a lot of disruption to schools in the coming months.”

The chief medical officers of the UK’s four nations will now weigh up whether or not to give the vaccine to younger schoolchildren, with a decision due within days. The JCVI recommended an expansion to an existing programme of vaccinations for older children with health conditions, including heart disease, type 1 diabetes and severe asthma, increasing the eligible group to about 200,000. But the decision came as a blow to the government, which has in recent days both quietly agitated for a decision from the JCVI, given most schools in England have returned this week, and pointed to existing mass vaccination programmes for such children in places including Israel, the US and Germany.

Immediately after the announcement, Sajid Javid, the health secretary, and his counterparts in Scotland, Wales and Northern Ireland, wrote to the chief medical officers in their countries, asking them to “consider the matter from a broader perspective”. Prof Anthony Harnden, the deputy chair of the JVCI, said on Saturday that while past decisions had been “fairly clear cut”, it was “quite reasonable for the government to seek further advice about other aspects” and “go ahead and have a look at it from an educational point of view”. When asked about the possibility of extending the vaccine rollout to younger children, he told BBC Breakfast: “Parents need to understand what the risks are, what the benefits are, and make up their own mind about whether they offer consent or not.”

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Famous last words.

The Virus That Stole Christmas (Sky)

Prime Minister Scott Morrison says by the end of the year, Australians should be able to reunite with family across the country, enjoy a proper summer holiday, and New Year’s Eve celebrations where friends can “hug and kiss” at midnight. Under the national plan, interstate travel will occur once 80 per cent of eligible Australians are double jabbed, Scott Morrison tells Sunday Herald Sun. “We don’t have to fear the virus, but we do have to live with it,” he says. “Holding onto COVID zero will only hold Australians back as the world moves forward.” Mr Morrison described the freedoms once 70 per cent and 80 per cent of eligible Australians roll up their sleeves for the jab.


“Grandparents in the east can hold their new grandchild in the west for the first time,” he tells Sunday Herald Sun. “Kids in the south can be excited for holidays up north, long days on the beach and rollercoasters. “Friends can make plans for New Year’s Eve where they can hug and kiss at midnight. “And everyone can make plans for a family Christmas, with all our loved ones at the dinner table, cracking bon-bons and bad jokes together. “Nobody wants COVID to be the virus that stole Christmas, and we have a plan and the vaccinations available to ensure that’s not the case.” “This means that in coming months, lockdown states can look forward to a return to backyard barbecues, kids’ birthday parties with all of their friends, gathering with the whole family for important moments like christenings, weddings and funerals.”

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“I have a right to be unvaccinated against this virus since neither being not-fat or vaccinated confers a health benefit to others..”

Slowly But Surely, The Stupid Is Failing (Denninger)

As for those who have not been infected the data on personal risk allocation is less-clear. Certainly, Covid-19 can seriously injure or kill you. But, since we now know the vaccines neither prevent infection or passing the virus on to others, and have a wildly higher hazard rate than any of the other commonly-used vaccines the equation is now entirely personal. That is, there is no social or employment and customer-related benefit to be had and thus we are now talking about the same classification of personal choice as is packing on that extra 100lbs or choosing to engage in anal sex, both of which are personally dangerous but do not impact other, non-consenting people except, perhaps, by consuming medical system resources someone else might want or need.

Indeed, the data is that being morbidly obese puts 60% or more on your risk of hospitalization or death from Covid-19. Since every single person who is morbidly obese willingly put every item of food and beverage down their own throat should we not hold them accountable for the load they are now placing on the medical system, especially since we knew this in early 2020 and they willingly and intentionally remained obese rather than lose the weight in the intervening 18 months? If I have a right to be fat (and not be discriminated against on the basis of being fat) then I have a right to be unvaccinated against this virus since neither being not-fat or vaccinated confers a health benefit to others; any benefit, such as may exist, is mine and mine alone.

If you think this is some sort of esoteric argument it is not. The Supreme Court has repeatedly ruled that bodily autonomy is sacrosanct. As just one example you have every right to screw another man in the ass so long as you both are adults and consent, which is why the laws related to such sexual practices across the United States in any public accommodation, housing, employment and similar have been progressively, over the last decades, struck down as unconstitutional. Indeed just last year firing someone for being gay become formally illegal. In short the USSC has, on a consistent basis over the last hundred years, ruled that what you choose in terms of personal risk as a consenting adult is nobody else’s damned business and absent hard, scientific proof that someone else is harmed you are on extremely thin ice legally with an attempt to discriminate on any such basis. The legal record is very clear in this regard; that which used to be able to be proscribed 100 years ago as “immoral” or “dangerous” for a particular person has been repeatedly and almost without exception greatly narrowed as the USSC has considered various cases before it.

I remind you that at the time of Jacobson the Court saw such things very differently and personal choice was much less-respected than it is today. Around the same time as Jacobson, for example, the state legislature of Oregon passed a law allowing forced sterilization of “sexual perverts” — aimed straight at homosexuals and the feeble-minded. Oregon was not alone in passing and enforcing these laws. Do you really think jabbing people was a big deal to the Supremes while the State of Oregon was cutting off people’s balls due to their sexual preference?

Do you think the Judge in Chicago did not take all of this into consideration when he reversed his former ruling that an unvaccinated mother by virtue of refusal lost her rights as a parent? I’d like to see the history on exactly why he originally thought that was a good idea, and if perhaps a little off-the-record urging was involved. Family courts are known for hair-raising rulings and such off-the-record games but this one got reversed awfully-quickly, didn’t it? Perhaps the light went on in his head — since the jabs do not produce sterilizing immunity to the virus and do not interrupt transmission his ruling was that one can be dispossessed of their civil rights for a personal medical, social or political decision with the boundary of impact encompassing nobody but herself. It was likely wise to walk away from that voluntarily before he got slapped in the face on appeal.

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“How many people died because they were denied access to these therapies, especially early on in the disease cycle when treatment is more effective? It’s impossible to say, but they could potentially run into the hundreds of thousands.”

Vaccine Voodoo (Rickards)

The data indicate that the most vaccinated countries have the most cases and deaths per million people, while the least vaccinated countries have the fewest cases and deaths per million people. Israel is providing a useful case study in the effectiveness, or lack thereof, of vaccines. Israel is one of the most heavily vaxxed countries in the world, with over 60% of the population fully vaccinated and almost 100% of the elderly. But now Israel is experiencing a massive increase in infections, including cases among the fully vaxxed. The government has also determined that the vaccines wear off after six months or less and is recommending a third shot for everyone. The problem, of course, is that the third dose will wear off too, so a fourth, fifth or sixth dose will be needed.

And with every new dose comes a new risk of dangerous side effects, including the small but real possibility of death. The vaccinated will be getting boosters for the rest of their lives, and the virus still won’t go away. Meanwhile, effective treatments, including ivermectin, hydroxychloroquine, vitamin D, zinc and other inexpensive measures, are being suppressed by the medical establishment. How many people died because they were denied access to these therapies, especially early on in the disease cycle when treatment is more effective? It’s impossible to say, but they could potentially run into the hundreds of thousands.

A new study by the U.K.’s National Health Service and a Canadian biotech company revealed that a nitric oxide nasal spray slashed SARS-CoV-2 viral load by 95% within 24 hours and 99% within 72 hours. If further trials pan out, early treatment with a similar cheap therapeutic could cut serious cases down to almost nothing. But it doesn’t matter. The medical establishment will continue pushing the narrative that only universal vaccination will stop the virus. The media continue to hyperventilate about “cases” but ignore the fact that death rates have declined since January. When one accounts for the 38 million Americans who have survived COVID and already have antibodies, then herd immunity is already here. Data indicate that people who had COVID between January and February of 2021 and recovered have 13 times more immunity to the Delta variant than vaccines provide.

We’re at the stage where we can learn to live with COVID as we do with many other endemic diseases such as the seasonal flu. There’s no reason for fear. But the public health authorities insist that these people with natural immunity must also be vaccinated. It’s not “science.” The zero-COVID policies many governments have pursued are completely unrealistic. The virus goes where it wants. The only real solutions are patience, herd immunity and effective therapies. The time has come to stop living in fear and start treating COVID as an endemic disease that will be with us for a long time, like the seasonal flu or diabetes. Unfortunately, government authorities continue to insist they can control the situation with orders and mandates.

Read more …

All it took to find out was one phone call. But nobody at Rolling Stone had a spare dime.

Rolling Stone ‘Horse Dewormer’ Hit-Piece Debunked (ZH)

After Joe Rogan announced that he’d kicked Covid in just a few days using a cocktail of drugs, including Ivermectin – an anti-parasitic prescribed for humans for over 35 years, with over 4 billion doses administered (and most recently as a Covid-19 treatment), the left quickly started mocking Rogan for having taken a ‘horse dewormer’ due to its dual use in livestock. [..] On Friday, Rolling Stone’s Peter Wade took another stab – publishing a hit piece claiming that Oklahoma ERs were overflowing with people ‘overdosing on horse dewormer.’ It was suspect from the beginning. The report, sourced to local Oaklahoma outlet KFOR’s Katelyn Ogle, cites Oklahoma ER doctor Dr. Jason McElyea – claimed that people overdosing on ivermectin horse dewormer are causing emergency rooms to be “so backed up that gunshot victims were having hard times getting” access to health facilities.

“As people take the drug, McElyea said patients have arrived at hospitals with negative reactions like nausea, vomiting, muscle aches, and cramping — or even loss of sight. “The scariest one that I’ve heard of and seen is people coming in with vision loss,” the doctor said.” -Rolling Stone. Except, the article provided zero evidence for McElyea’s claims, causing people to start asking questions. And while neither KFOR or Rolling Stone mention the hospital McElyea worked for, NHS Sequoyah, located in Sallisaw, Oklahoma – just issued a statement disavowing McElyea’s claims, which pops up when you visit their website. It reads:

“Although Dr. Jason McElyea is not an employee of NHS Sequoyah, he is affiliated with a medical staffing group that provides coverage for our emergency room. With that said, Dr. McElyea has not worked at our Sallisaw location in over 2 months. NHS Sequoyah has not treated any patients due to complications related to taking ivermectin. This includes not treating any patients for ivermectin overdose. All patients who have visited our emergency room have received medical attention as appropriate. Our hospital has not had to turn away any patients seeking emergency care. We want to reassure our community that our staff is working hard to provide quality healthcare to all patients. We appreciate the opportunity to clarify this issue and as always, we value our community’s support.”

[..] McElyea is also listed as working at Integris Grove Hospital in Grove, OK as a general family practitioner – not in the ER. A phone call to them provided no insight as to any ivermectin overdoses, however the gentleman who answered the phone sounded quite amused. What’s more, Grove, OK – with a population of 7,129, had just 14 aggravated assaults in all of 2019 according to the FBI’s latest data. We somehow doubt that ‘gunshot victims were lining up outside the ER,’ while just 11 ivermectin related hospital cases have been reported in the entire state since the beginning of May.

Read more …

“Very little is referenced, because I can very easily find a contradictory reference to any reference I provide. For each fact, there is an equal and opposite fact.”

I Have Not Been Silenced (Malcolm Kendrick)

Thank you to the many people who have e-mailed me recently and asked if I have been silenced. I have not. I have had letters from Public Health England and the General Medical Council, informing me that I was under investigation for daring to question anything about COVID19, particularly vaccines. The good news is the investigations ended up nowhere, and were closed down. I have also had irate phone calls from doctors, telling me that I must not question vaccination and suchlike. This has been somewhat wearing and has caused me to remain silent for a while and think about things. However, I do know how to play the medical regulations game. Don’t make a statement you cannot reference from a peer-reviewed journal.

Don’t give direct advice to people over the internet. Provide facts, and do not make statements such as ‘vaccines are killing thousands of people.’ Or suchlike. Not that I ever would. My self-appointed role within the COVID19 mayhem, was to search for the truth – as far as it could be found – and to attempt to provide useful information for those who wish to read my blog. The main reason for prolonged silence, and introspection, is that I am not sure I can find the truth. I do not know if it can be found anymore. Today I am unsure what represents a fact, and what has simply been made up. A sad and scary state of affairs. This is not just true of the mainstream and the mainstream media, which has simply decided to parrot all Government and WHO statements without any critical engagement…or thought.

For example, the BBC intones that ‘In the last day, fifty people died within twenty-eight days of a positive COVID19 test…’ Or a hundred, or six. What the hell is this supposed to mean? It means nothing, it is the very definition of scientific meaninglessness. Especially when it seems that very nearly a half of those admitted to hospital with COVID19 were not admitted to hospital with COVID19. They were admitted with something else entirely, then had a positive test whilst in hospital. In short, they were not admitted to hospital with COVID19, and almost certainly did not die of COVID19. They died with a positive COVID19 test. With, not of. But the misinformation is equally a problem for those on the other side. Claims are made for the benefits of Ivermectin and hydroxychloroquine that simply do not stand up to scrutiny.

Yes, I believe both drugs may provide some benefit, but not the claimed 90% reduction in deaths that I have seen trumpeted. So, I have given up on COVID19. It is a complete mess, and I feel that, without being certain of the ground under my feet, I have nothing to contribute. I too am in danger of starting to make statements that are not true. However, before leaving the area entirely, I would like to make clear some of the things I currently believe to be true, and what I do not believe to be true. If this is of any assistance to anyone. Very little is referenced, because I can very easily find a contradictory reference to any reference I provide. For each fact, there is an equal and opposite fact.

Read more …

“And that, my friends, is where we are. We didn’t get here overnight.”

The Road to Totalitarianism (CJ Hopkins)

The time for people to “wake up” is over. At this point, you either join the fight to preserve what is left of those rights, and that sovereignty, or you surrender to the “New Normal,” to global-capitalist totalitarianism. I couldn’t care less what you believe about the virus, or its mutant variants, or the experimental “vaccines.” This isn’t an abstract argument over “the science.” It is a fight … a political, ideological fight. On one side is democracy, on the other is totalitarianism. Pick a fucking side, and live with it. Anyway, here’s where we are at the moment, and how we got here, just the broad strokes. It’s August 2021, and Germany has officially banned demonstrations against the “New Normal” official ideology. Other public assemblies, like the Christopher Street Day demo, one week ago, are still allowed.

The outlawing of political opposition is a classic hallmark of totalitarian systems. It’s also a classic move by the German authorities, which will give them the pretext they need to unleash the New Normal goon squads on the demonstrators tomorrow. In Australia, the military has been deployed to enforce total compliance with government decrees … lockdowns, mandatory public obedience rituals, etc. In other words, it is de facto martial law. This is another classic hallmark of totalitarian systems. In France, restaurant and other business owners who serve “the Unvaccinated” will now be imprisoned, as will, of course, “the Unvaccinated.” The scapegoating, demonizing, and segregating of “the Unvaccinated” is happening in countries all over the world. France is just an extreme example. The scapegoating, dehumanizing, and segregating of minorities — particularly the regime’s political opponents — is another classic hallmark of totalitarian systems.

In the UK, Italy, Greece, and numerous other countries throughout the world, this pseudo-medical social-segregation system is also being introduced, in order to divide societies into “good people” (i.e., compliant) and “bad” (i.e., non-compliant). The “good people” are being given license and encouraged by the authorities and the corporate media to unleash their rage on the “the Unvaccinated,” to demand our segregation in internment camps, to openly threaten to viciously murder us. This is also a hallmark of totalitarian systems. And that, my friends, is where we are. We didn’t get here overnight. Here are just a few of the unmistakable signs along the road to totalitarianism that I have pointed out over the last 17 months.

Read more …

Xi is getting bold.

China’s Marxist “Profound Revolution” Is Here (Every)

Political developments in China have been front page news in the financial press over the past few months. Beijing’s crackdown on Ant Financial, largely dismissed by Wall Street, then spread to Didi and on to the broader sectors these championed, fin- and transport-tech; then it grew to encompass swathes of the economy, from tech to health to education to property to private equity to gaming. In terms of tech, there are now sharp limits on IPOs in the US (mirrored from the US side) and new algo/pricing and data regulations that require Beijing to hold on to it; the private tuition field was made non-profit; there has been a sharp reduction in credit to property developers along with the official message that “houses are for living in, not speculation”, and rental increase caps of 5% annually; under-18s have been limited to just 3 hours of computer gaming a week, in allotted slots; and private equity has been cut off from residential investment.

Beijing has also called for curbs on “excessive” income, and for the wealthy and profitable firms “to give back more to society.” (Tencent already pledged $15bn.) This is also matched by: a social campaign against excessive business drinking, “unpatriotic” karaoke songs, and celebrity culture; ‘Xi Jinping Thought’ made obligatory at all schools and universities; and, as Bloomberg puts it, controls on social media financial commentary – “China to Cleanse Online Content that ‘Bad Mouths’ its Economy”. This has all taken place under the slogan of “Common Prosperity”. Going further, commentary reposted by Chinese state media on 30 August stressed these changes are a “profound revolution” sweeping the country, warning anyone who resisted would face punishment.

It added: “This is a return from the capital group to the masses of the people, and this is a transformation from capital-centred to people-centred,” marking a return to the original intention of the Communist Party, and “Therefore, this is a political change, and the people are becoming the main body of this change again, and all those who block this people-centred change will be discarded.” Notably, a WeChat blogger originally made the post, but it was then reposted by major state-run media outlets such as the People’s Daily, Xinhua News Agency, PLA Daily, CCTV, China Youth Daily, and China News Service. The author also wrote that high housing prices and medical costs will become the next targets of the campaign –which was backed by an official announcement on 1 September– and that the government needed to “combat the chaos of big capital,” adding “The capital market will no longer become a paradise for capitalists to get rich overnight… and public opinion will no longer be in a position worshiping Western culture.”

Read more …

 

 

 

 

 

Dave Collum: “Yeah. It had nothing to do with those last 2,000 Whoppers and 2,500 bags of Funions…”

Do read the story below the photo.

 

 

God

 

 

 

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Jun 222021
 


Giorgio de Chirico The Archaeologists 1927

 

 

This is kind of a sequel to Let’s Save Some Lives , published here on June 6, when I said “All we can do is hope our immune systems are strong enough to fight off the vaccines.” and quoted Michael Yeadon, former Chief Scientific Officer of Pfizer, as saying: “Ivermectin is an off-patent drug that is one of the most widely used drugs in the world, and we know it is able to reduce Covid-19 symptoms at any stage of the disease by about 90%, so there is no need for vaccines.”. We’ll just keep on going.

 

 

It’s mighty cute that Matt Taibbi gets some coverage after writing Why Has “Ivermectin” Become a Dirty Word? , just like it was cute that Michael Capuzzo got some when he wrote The Drug that Cracked Covid a few weeks ago. Question is, where have all these people, the writers and their readers, been in the past year? As I wrote two days ago:

Taibbi should ask not only “WHY Has “Ivermectin” Become a Dirty Word?” but also “WHEN Has “Ivermectin” Become a Dirty Word?”. And then apologize to his readers for completely missing the story for a year, or at least the half year it’s been since Kory’s Senate testimony -which he talks about- was deleted by YouTube.

It’s also cute that the American Journal of Therapeutics recently published:

Ivermectin for Prevention and Treatment of COVID-19 Infection

Therapeutic Advances: Meta-analysis of 15 trials found that ivermectin reduced risk of death compared with no ivermectin (average risk ratio 0.38, 95% confidence interval 0.19–0.73; n = 2438; I2 = 49%; moderate-certainty evidence). This result was confirmed in a trial sequential analysis using the same DerSimonian–Laird method that underpinned the unadjusted analysis. This was also robust against a trial sequential analysis using the Biggerstaff–Tweedie method. Low-certainty evidence found that ivermectin prophylaxis reduced COVID-19 infection by an average 86% (95% confidence interval 79%–91%).


[..] Conclusions: Moderate-certainty evidence finds that large reductions in COVID-19 deaths are possible using ivermectin. Using ivermectin early in the clinical course may reduce numbers progressing to severe disease. The apparent safety and low cost suggest that ivermectin is likely to have a significant impact on the SARS-CoV-2 pandemic globally.

And The Journal of Antibiotics did the same with:

The Mechanisms Of Action Of Ivermectin Against SARS-CoV-2

Although several drugs received Emergency Use Authorization for COVID-19 treatment with unsatisfactory supportive data, Ivermectin, on the other hand, has been sidelined irrespective of sufficient convincing data supporting its use. [..]

Real-time data is also available with a meta-analysis of 55 studies to date. As per data available on 16 May 2021, 100% of 36 early treatment and prophylaxis studies report positive effects (96% of all 55 studies). Of these, 26 studies show statistically significant improvements in isolation. Random effects meta-analysis with pooled effects using the most serious outcome reported 79% and 85% improvement for early treatment and prophylaxis respectively (RR 0.21 [0.11–0.37] and 0.15 [0.09–0.25]).

The results were similar after exclusion based sensitivity analysis: 81% and 87% (RR 0.19 [0.14–0.26] and 0.13 [0.07–0.25]), and after restriction to 29 peer-reviewed studies: 82% and 88% (RR 0.18 [0.11–0.31] and 0.12 [0.05–0.30]). Statistically significant improvements were seen for mortality, ventilation, hospitalization, cases, and viral clearance. 100% of the 17 Randomized Controlled Trials (RCTs) for early treatment and prophylaxis report positive effects, with an estimated improvement of 73% and 83% respectively (RR 0.27 [0.18–0.41] and 0.17 [0.05–0.61]), and 93% of all 28 RCTs.

Those numbers are clear enough, I bet you if you get an honest report on the vaccines none can compete, but for these science journals the same question must be asked: where were you over the past year? You really had no idea? We did at the Automatic Earth, but our reach is limited; we’re lucky if we convinced a few thousand people to obtain ivermectin, if they could get it in the first place. Which is great, don’t get me wrong.

There are a number of parties to this: there’s the vaccine manufacturers, aka Big Pharma, there’s politicians including governments, there’s the experts the latter derive their knowledge from, and there’s the media. And they’re all a year late when it comes to ivermectin and HCQ and other repurposed drugs. And at some point it will become clear that there was no need to be late, and it cost an enormous amount of misery and deaths and overwhelmed health care systems and lockdowns and facemasks.

They will do what they can to keep it from becoming clear, but it’s too obvious by now. Big Pharma simply says its products are superior, and suppresses research into ivermectin etc. Politicians hide behind their experts, who claim they go with what science journals publish. And the press hides behind the experts: “See, there’s no research”, without asking why there isn’t. There is, by the way, there is a lot of research:

 

 

It’s a closed club that all say the same thing. And put the onus on the -prospective- patients. Whereas if common sense had prevailed, and we had all given everybody enough vitamin D to bring those levels to an acceptable height, and we had given them ivermectin either as a prophylactic or an early cure, this pandemic would likely never have happened.

But if we had done that, the mRNA vaccines would never have gotten Emergency Use Authorization (EUA) , we couldn’t have locked everyone down, and there wouldn’t have been any reason for the huge-scale bailout programs. Sure, a few really old and/or really obese people, both with comorbidities, might have died, even with vitamin D and ivermectin, but they might have anyway. And we don’t know, because they never got that support.

That is the story that needs to be told today. Not why ivermectin today has a bad name, but why it got one a year and change ago. Why Capuzzo and Taibbi are so late to this game, and why politicians today are pushing vaccine passports while if they had acted a year ago, there would not have been a pandemic of anything the present size. Who are these people listening to, who controls the narratives?

Meanwhile the stories about the vaccines keep on piling up. Along the lines of: why is myocarditis among young men such a problem, if they mostly recover from it? Or: why are 10s of 1000s of spontaneous abortions among young America women a issue, when they can simply have another child? The benefits outweigh the problems, we hear it every single day.

It’s sort of funny, if the effects weren’t so ghastly, that both ivermectin and the vaccines were never tested, even though the WHO says: “Vaccines are safe and effective and have been tested extensively”. The first because that would have made the second ineligible for EUA, the second because some parties really wanted to push our bodies into becoming spike protein factories, to see how these gather in our brains and ovaries and testes, and watch what happens.

So who’s going to pay the price for the full year delay, which is ongoing -there’s still no ivermectin distribution campaign other than in parts of India and a few South American and African nations-, who’s going to take the blame for all the deaths and misery? Or will the system remain closed to the public’s eyes?

 

 

 

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Mar 292021
 


Rufino Tamayo The Dance of Joy 1950

 

 

We’re running two grand experiments at the same time: we inject 100s of millions with untested substances, and then we let them fly and gather and tell them it’s safe to do so.

 

 

First things first: none of the “vaccines” that are being injected as we speak into 100s of millions of people have been approved by “medical authorities”. The Pfizer and Moderna mRNA ones, as well as the AstraZeneca and in some places Johnson&Johnson “substances” have only, best case, gotten a permit for Emergency Use Authorization (EUA).

This is needed because none of these things have ever been properly tested. The “logic” behind this is that we are in an emergency, so there’s no time for testing. Somehow, this “logic” is combined with claims about “listening to the science”. While not testing is the direct opposite of science.

In order to get the Emergency Use Authorizations, you need to show that there are no other substances available that could perform the job that the “vaccines” do. I put “Vaccines” in quotation marks because mRNA are not vaccines in the traditional sense, they are, at least potentially, much more invasive. A factor that has… never been properly tested.

The other substances that might work vs the coronavirus, repurposed drugs such as ivermectin and (hydroxy) chloroquine -about which many doctors have written very positive reviews-, if the (EUA) label is to be put on the new “vaccines”, must also remain untested, just like the “vaccines” themselves.

So there are a few “tests” out there that applied HCQ and ivermectin, but in the wrong environment. See, if you give them only to 80+ year-olds who are already on an intubator and have multiple co-morbidities, you may well end up with the verdict that they did not prevent that person from dying. The thing is, the same would be true if you gave that person an mRNA “vaccine”. But that last bit, we don’t hear about.

We recently had this from a medical journal in Holland, Google translated:

High Fine For Doctors Who Incorrectly Prescribe HCQ Or Ivermectin (MC)

Doctors who prescribe (hydroxy) chloroquine or ivermectin against covid-19 will now receive a fine of up to 150,000 euros imposed by the inspection. This may also include other medications that are prescribed outside the guidelines. The IGJ calls on pharmacists to report. The Health and Youth Care Inspectorate regularly receives reports that doctors prescribe medicines that are contrary to the treatment recommendations for covid-19, the IGJ reports on its website.


When asked, the IGJ spokesperson cannot explain exactly how many doctors this is about and what their specialty is. “We have talked to a number of doctors about this, but because some of them continue to do so, we are now going to impose fines. We are not going to warn anymore, “said the spokesman. [..] According to the IGJ, (hydroxy) chloroquine has been proven to be ineffective against covid-19 and at the same time can cause serious side effects. There is also no scientific basis for the use of ivermectin.

They either don’t test HCQ and ivermectin at all, or they test them in the wrong environment. When someone is dying from old age and co-morbidities, and then catches Covid, you’re not going to save them with HCQ or ivermectin. But nobody ever said you would. Moreover, you wouldn’t save them with mRNA either.

Chloroquine, later (hydroxy) chloroquine, was discovered in 1934, and used as a malaria treatment, for decades. Some 200 million people were treated with it, primarily in Africa, since, with great success. In fact, so many people were treated that it lost its effectiveness because the parasite that causes malaria slowly developed an immunity against it. But we would still have known if it killed large numbers of people. Same goes for ivermectin.

Ivermectin stems from 1975, long time ago, (though Joe Biden had been a senator for 3 years already ;-)), and many many millions were successfully treated with it as an anti-parasite drug. There’s an entire library by now of ivermectin vs Covid 19 studies. But the health board in Holland says :“There is also no scientific basis for the use of ivermectin.”. Yeah, sure. Look, what there is no scientific basis for is the use of the newfangled untested “vaccines”. Not testing equals not scientific. You could label it “technology” if you will, but not science.

 

Then we have Prof Anthony Harnden talking about the AstraZeneca vaccine reducing transmission by some 50%. Given the uncertainties and lack of testing and investigation, I would be inclined to label this prof a ‘lying, dog-faced pony soldier’. Yes, I am getting tired of this spiel.

Vaccines Do Not Completely Stop Transmission, JCVI Member Says

Covid-19 vaccines do not completely prevent transmission, Prof Anthony Harnden, deputy chair of the Joint Committee on Vaccination and Immunisation (JCVI) has said. He told BBC Breakfast on Sunday that while they appear to reduce transmission by about 50%, vaccinated people can still get the virus and spread it to others. He added:


“There’s some good evidence now from Public Health England and from the Oxford/AstraZeneca trials that the vaccines do prevent transmission. But they don’t completely prevent transmission. The figures are still being calculated but it’s in the order of 50%. So, there will be some reduction in transmission, no doubt at all, but it’s still possible, even though you’ve been vaccinated, to get infected, have no symptoms and transmit it to others. That’s why it’s important that all those who get vaccinated still stick to the rules.”

In other words: Get that needle in your arm, stay home, put some underwear on your face, and keep your clap shut. The European Medicines Agency has two cents to spare as well:

EMA advises against use of ivermectin for the prevention or treatment of COVID-19 outside randomised clinical trials

EMA has reviewed the latest evidence on the use of ivermectin for the prevention and treatment of COVID-19 and concluded that the available data do not support its use for COVID-19 outside well-designed clinical trials. In the EU, ivermectin tablets are approved for treating some parasitic worm infestations while ivermectin skin preparations are approved for treating skin conditions such as rosacea. Ivermectin is also authorised for veterinary use for a wide range of animal species for internal and external parasites. Ivermectin medicines are not authorised for use in COVID-19 in the EU, and EMA has not received any application for such use.

Following recent media reports and publications on the use of ivermectin, EMA reviewed the latest published evidence from laboratory studies, observational studies, clinical trials and meta-analyses. Laboratory studies found that ivermectin could block replication of SARS-CoV-2 (the virus that causes COVID-19), but at much higher ivermectin concentrations than those achieved with the currently authorised doses. Results from clinical studies were varied, with some studies showing no benefit and others reporting a potential benefit.

Most studies EMA reviewed were small and had additional limitations, including different dosing regimens and use of concomitant medications. EMA therefore concluded that the currently available evidence is not sufficient to support the use of ivermectin in COVID-19 outside clinical trials. Although ivermectin is generally well tolerated at doses authorised for other indications, side effects could increase with the much higher doses that would be needed to obtain concentrations of ivermectin in the lungs that are effective against the virus. Toxicity when ivermectin is used at higher than approved doses therefore cannot be excluded.

So that’s experiment number 1. 100s of millions of people injected with untested substances. For which there seems to be some evidence that they make a person less sick. But that’s all the evidence there is. They can still be infected, and there’s still no evidence that they can’t infect others. So by all means, let’s bet the house on that, shall we? And if we have to kill drugs that might do a much better job to get there, we will.

 

Then comes experiment number 2. The people who have been injected with this stuff will now be able to get vaccine passports of one sort or another, and travel, get into planes and theaters and what not, and, according to the CDC, gather without wearing masks. While “there’s still no evidence that they can’t infect others”.

I know that politicians are getting desperate, after a full year of lockdowns. But they could all have started nationwide campaigns of improving immune systems through vitamin D a year ago. That was the easiest thing ever, and still is, potentially decreasing both infections and deaths by 50%. Yes, there’s scientific literatute for this.

They could have initiated large scale trials with ivermectin, HCQ, doxycycline and other drugs, but none of them did, outside of countries like India, Peru, Argentina. So that didn’t happen either. Now all they have left are a bunch of non-proven and questionable technologies, and they’re promoting those as if their lives and careers depend on them.

And then we all double down and tell people they’re safe after getting a couple of “jabs”, and everyone around them is too, though there is zero evidence for this. That is a big gamble. But gambling is all we have left. Economies need to open or else. People must be able to see people or else. Governments need to get out of the way and let people take responsibility for their own lives.

We can only wait for the first politician and government and their “expert” advisers to come clean and say they failed. That would at least be a breath of fresh air. Here in Athens after a hard lockdown of almost 6 months, case numbers and intubations are higher than ever. The least they can do is say: we’re sorry, we were wrong, we screwed up.

But politicians and “scientists” don’t do that, unless they’re forced to, even if countless lives are lost in the process. So what do you do? Well, you force them to. And then you make them leave, and start saving lives.

 

 

 

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Mar 122021
 
 March 12, 2021  Posted by at 3:42 pm Finance Tagged with: , , , , , , , ,  33 Responses »


Claude Monet Grand Canal, Venice 1908

 

 

 

Our freedoms are cancel-cultured one by one, and by now hardly anyone notices anymore, because the media is in on it. But this cannot end well. We better stop this now, or it will get awfully out of hand. It’s a sliding scale bouncing down a slippery slope that gifts politicians and “health authorities” the world over with ever more powers, which they really should not have, as everyone would agree with who takes a step back to look at the bigger picture.

 

• ONLY doctors are experts.

• We use ONLY vaccines to fight Covid, no prophylactics. No vitamin D, HCQ or ivermectin.

• We have ONLY Emergency Use Authorization vaccines.

• We can soon ONLY travel after having been inoculated with such vaccines.

• We can ONLY express officially approved opinions.

 

 

• ONLY doctors are experts.

You can’t let your country be run by doctors, virologists and epidemiologists. Anyone can understand that. But this is the reality:

Advisory Committee On Pandemic Needs Variety Of Experts, Not Just Doctors

The existing committee of experts advising the government on the pandemic must reshape to add experts from different research disciplines instead of one to become more efficient, according to a professor on Friday. Manolis Dermitzakis, professor of genetics at the University of Geneva, told Skai television that, in the first wave of the pandemic, the decisions for the committee were simple. It ONLY had to decide whether some activities should open or close, while the public largely complied with the restrictive measures. But the complexity of the situation as the pandemic continued from the summer onwards was so great that a commission which includes ONLY doctors could not function. Dermitzakis also argued that the panel must have fewer members. “A committee that has 30-40 members and consists ONLY of doctors cannot function,” he said.

• We use ONLY vaccines to fight Covid, no prophylactics. No vitamin D, HCQ or ivermectin.

We talked about the absurdity of this so much at the Automatic Earth, no need to repeat it.

 

• We have ONLY Emergency Use Authorization vaccines.

That one is tricky: none of the vaccines injected into 100s of millions of people has been approved. Who knows this though, that gets “jabbed”?

• We can soon ONLY travel after having been inoculated with such vaccines.

This article beats around the -legal- bush a little, but you just watch:

EU’s Green Pass Will ONLY Be Valid With EMA-Approved COVID Vaccinations

An EU source has told Euronews that the Green Pass proposal, to be put forward on March 17th to aid free movement within the bloc, will ONLY be valid with EMA-approved vaccinations. Why? Because the vaccinations from unapproved companies will not be covered by the EU liability clause and quality control. The source reported that EU justice commissioner Didier Reynders made it clear that member states were free to get their citizens vaccinated by other products, but they would not be allocated a licensed travel certificate unless their jab had been from an approved company, of which there are currently four. Pfizer/BioNtech, AstraZeneca, Moderna and Johnson&Johnson.


The duration of the digital green certificate should be limited to the end of the COVID-19 pandemic, the EU source said, adding that tests and quarantine will continue to be the enablers of free movement. Thus, vaccination does not become a pre-condition for free movement.

 

But Europe won’t even have the vaccines it needs to enact such policies. You will end up with a new elite: the vaccinated. Older people. Who, as far as we know, will still be liable to be infected, and infect others. The youth must stay home. You MUST be vaccinated, but right now, we’re all out. Call again in September. Call me maybe.

 

Europe’s COVID Vaccine Rollout Faces Even More Delays

Earlier today, a smattering of European nations halted vaccinations for at least some AstraZeneca COVID vaccine jabs amid an investigation into whether the jabs contributed to dangerous blood clots that led to at least one death. And as if this wasn’t a big enough problem for one day, Bloomberg reports that manufacturing issues are plaguing AstraZeneca’s manufacturing facilities, creating more obstacles to distribution. And now European governments are bracing for further delays. Good thing Italy refused to send that one shipment of jabs to Australia. Here’s more from Bloomberg:

“European Union governments are bracing for further possible delays in the distribution of AstraZeneca Plc’s Covid vaccine after a warning from the European Commission that the manufacturer remains a problem, according to a diplomatic note seen by Bloomberg. Astra Chief Executive Pascal Soriot said last month the company would look at tapping international supply chains to make up for some of the shortfall, including production in the U.S.

It’s revised its delivery schedule multiple times, most recently committing to 40 million doses this quarter and 180 million in the second from an earlier goal of about 280 million across both periods. But at a meeting of EU ambassadors on Wednesday, diplomats were told by senior EU officials that Astra continues to be “problematic.” They also heard that Johnson & Johnson, which could get market authorization from the European Medicines Agency on Thursday, has yet to provide a delivery schedule for its vaccine.”

 

There are still enormous potential issues with the Emergency Use Authorization vaccines. This is not kid’s play. There’s this from my article yesterday:

 

Mass Vaccination Amidst A Pandemic Creates An Irrepressible Monster

Basically, we’ll very soon be confronted with a super-infectious virus that completely resists our most precious defense mechanism: The human immune system. From all of the above, it’s becoming increasingly difficult to imagine how the consequences of the extensive and erroneous human interventon in this pandemic are not going to wipe out large parts of our human population. One could ONLY think of very few other strategies to achieve the same level of efficiency in turning a relatively harmless virus into a bioweapon of mass destruction.

 

And there’s this, rehashed by Jim Rickards:

 

The Vaccines Aren’t Actually Vaccines

First, these so-called vaccines are not really vaccines in the widely understood sense. A traditional vaccine involves an injection either with a weakened form of the virus you are protecting against or a similar virus. Either one can produce antibodies that remain in the system and fight the actual disease if you get it. These new vaccines are entirely different. I don’t want to get too deep into the weeds here, but these treatments use experimental genetic modification to inject you with mRNA, which is a partial strand of genetic code. That mRNA then enters your cells and orders the cells to construct a spike protein similar to SARS-CoV-2 (the virus that causes COVID). This spike protein then precipitates antibodies that can reduce your reaction to SARS-CoV-2 if you get it.

But the “vaccine” does not prevent you from getting COVID, and it does not prevent you from spreading it to others. The spike protein remains with you indefinitely. In effect, you have modified your own genetic make-up to fight COVID without actually gaining immunity and without reducing transmissibility. According to the U.S. Centers for Disease Control and Prevention, if you’re immune to a disease, “you can be exposed to it without becoming infected.” But these vaccines do not prevent you from being infected or spreading it to others. Some have likened them to chemotherapy for a cancer you don’t have.Vaccines of this type with respect to viruses are entirely new in humans. Studies have not gone on long enough to evaluate long-term side effects.

These drugs are not FDA approved; they are being distributed under an emergency waiver to avoid the normal approval process. It’s almost like we’re being used as guinea pigs. It is likely that most people receiving the drugs are unaware of these important differences between the new drugs and traditional vaccines, which raises questions about whether their “consent” is fully informed. There could be very good reasons for vulnerable individuals to take these drugs, but they should not be mistaken for the kind of smallpox, polio and flu vaccinations with which we are familiar. As far as vaccines go, mRNA genetic therapy is a brave new world — one that is not well understood.

 

• We can ONLY express officially approved opinions.

Twitter and Facebook have set standards for this. None of the “old media” deviate from these opinions either.The number of articles on ivermectin, HCQ, vit. D from medical professionals that have been cancel-cultured by social media is staggering. That’s not just un-American, it’s un-every country that pretends to be a democracy.

Like Joe Biden said yesterday: if you’re good boys and girls, and get injected with an experimental never tested and thus never approved substance, then maybe we will allow you to have 1 or 2 friends over in 4 month’s time. I like Tucker Carlson’s reaction to that:

Tucker Biden

 

Governments across the world have spectacularly failed in their “three weeks to flatten the curve” policies, but don’t anyone dare call them on that. It’s not their fault, it’s the virus, and the variants, and the young people, and all those who don’t obey the orders. But never the people who made and make these decisions. Our world over the past year has become a one-dimensional myopic dystopia in which people will get increasingly uncomfortable and agitated. You just watch.

Just watch what happens when countries and states are forced to open their economies again because they can no longer afford to prop up everything inside them. You will see gigantic waves of lay-offs, which will only exacerbate the problems businesses are already in. And no American Rescue Plan or comparable stimulus elsewhere will rescue anything in the longer term.

And then…because they all want to balance their budgets, taxes will start rising. But that won’t be their fault either.

 

 

 

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Oct 042020
 


Herbert Draper Lament for Icarus 1898

 

 

Is it still allowed to talk about COVID without mentioning Trump? I am not sure. And now I did it anyway. Nassim Taleb made an interesting point about that:

 

 

Though I don’t follow the news in the Netherlands much, I happened to see something the other day that I think is a “beautiful” example of why so many countries get their “measures” wrong, their lockdowns, facemasks etc.

First of all, they all screwed up their initial lockdowns, which pretty much were March-June all over. And second lockdowns are more something they like to threaten people with than actually considered options. Unless things really get out of hand, if for instance numbers of deaths suddenly increase a lot, but given the change towards infections occurring in much younger people than before, that is not likely. Plus, of course, no-one wants even more economic damage.

And now what you see is the politicians don’t know what to do anymore. They turn to “their scientists” again, but many have before given advice that is different from what they say now, that hasn’t worked, and that often contradicts what their colleagues in other countries say. And so everyone starts blaming “the people”.

But the people have mostly obeyed the lockdowns and become experts themselves, or so they think, and seen them go nowhere. That makes the positions of politicians and “experts” much weaker than it was 6-7 months ago. It’s about credibility, and they’ve squandered it. Why “must we listen to the scientists” if that does us no good?

The Netherlands, like many European countries, is in a second wave that is seeing many more new daily cases than in spring. Partly due to more testing, but not entirely:

 

 

The number of deaths does not show a similar trend, which can be contributed to the infections mostly occurring in much younger people, and of course a better understanding in medical circles of the virus. However, hospitals are still filling up much faster than in June-July, and many younger people, too, end up with damaged brains, lungs, hearts etc.

 

 

This recent chart of the difference between August and September infection numbers throughout Europe is skewed because of the insane increases in Hungary and Georgia, but it shows that a 300% increase was entirely normal in that timeframe.

 

 

 

 

So what now? The Dutch government came with a whole new set of measures starting October 2. Because people “don’t obey the rules”. And people increasingly say: maybe the rules are not right. By the way, facemasks are not mandatory there in stores and other public places, there is only an “urgent” government advice to wear them. That is different from many other nations. Here are the new measures per Google Translate:

 

 

• Work from home as much as possible.
Receive up to 3 guests at home.
– Children up to and including 12 years are not included.
You may meet with a group of 4 people.
– For example in a cinema or restaurant.

– Children up to and including 12 years are not included.
• A maximum of 30 people may be together in an indoor space.
– Children count.
• Cafes, bars and restaurants close at 10 p.m. You must be gone then. You can enter until 9 p.m.
– You provide your name and telephone number. If someone gets sick who has been in the restaurant or cafe, you will receive a call.
• You must make a reservation to visit a museum or library.
• Stores only allow customers if there is enough space.
• In supermarkets there will be special shopping hours for the elderly and the sick (people with poor health).
• People with a contact profession must register customers. For example hairdressers.

 

 

The first reaction that I have, and I’m sure I’m not the only one: Why 3 people as house guests and not 4? Why 4 people at a restaurant table and not 5, or 30 total in an indoor space? There are family members we haven’t seen since Christmas, but a birthday party is out?

Where do those numbers come from? Did you just make them up? Also, closing bars and restaurants at 10 pm is going to be the death knell for many of the few that are left. Is that worth it?

About that number of 4 people at a restaurant table, the next article from NLTimes about worries in the hospitality sector says that in neighboring Germany and Belgium, 10 people can sit at that same -or preferably a bigger- table. Are Dutch people supposed to drive to those countries if they have a party of 8?

 

Gov’t Advice To Wear Masks In Public Space Met With Skepticism

On Wednesday Prime Minister Mark Rutte issued the urgent advice for all Netherlands residents to wear masks in publicly accessible indoor spaces. This advice was met with skepticism, especially from the hospitality industry. Former RIVM director Roel Coutinho would rather have seen a mask obligation instead of advice.

Hospitality association KHN doubts whether the advice to wear masks in public makes sense, the association said in a press release. “The fact that there is still no scientific substantiation by the cabinet and RIVM about the proven usefulness of face masks certainly does not help to create and maintain support. Moreover, face masks still form an extra barrier to visiting establishments.”

If the government turns its advice into an obligation, the KHN wants the Netherlands to follow Germany and Belgium’s example. According to the association, in those countries up to 10 people are allowed at a restaurant table. “Then we will be open to it,” the association said. The KHN also wants extra financial support should masks become mandatory.

Roel Coutinho, who preceded Jaap van Dissel as head of public health institute RIVM, is pleased that the advice to wear masks indoors now applies to the whole of the Netherlands, but regrets that the government did not make it mandatory. “On the basis of all the literature, I am convinced that wearing a face mask is useful. But only advice makes it particularly difficult for people,” he said to Nieuwsuur. “An obligation, as is also happening in countries around us, gives everyone much more clarity.”

An obligation will also help the stores that have to enforce the face mask rule. “Because what exactly should those shops or supermarkets do?” Coutinho said. “Because it only concerns urgent advice, the responsibility now lies with shops, which makes it very difficult. An obligation is not always pleasant, but it is clear and easy to enforce.”

 

But the best part is the following, the initial piece that got me thinking about this. Turns out that at the same moment the government issues an “urgent” advice to wear them, with a threat of making them mandatory, its chief Infectious Diseases expert, the Dutch Fauci, says he sees little benefit is wearing non-medical masks. As, ironically, Fauci, who used to say they were useless, now calls them very beneficial. Google translate again:

 

Van Dissel Insists: Ordinary Face Masks Have Little Effect

The frequent use of masks in other countries, the pressure of public opinion in his own country, or even a direct appeal from his famous American counterpart Anthony Fauci: Jaap van Dissel sticks to his position. When asked, the director of Infectious Diseases at the RIVM repeats that, according to him, masks have “an exceptionally small effect” on the attempts to contain the spread of the corona virus. In an interview with the NOS, he calls the cabinet’s recent decision to urgently recommend masks in public indoor spaces, therefore primarily a political decision rather than one based on medical grounds.

Since the start of the corona crisis, Van Dissel has emphasized that he sees little benefit in wearing non-medical face masks, especially because it could evoke a sense of false security and possibly divert attention from other rules. Although he acknowledges that there are studies that signal a positive effect of face masks, he believes they are difficult to extrapolate to the corona crisis.

“For example, medical mouth masks were often used in those studies and measures such as the one and a half meters are not taken into account,” he explains. There are also studies that are less positive about masks, he says. “That leads us to consider that we have not given a positive advice about it. That is just the story. That another decision is taken, based on political considerations, that it should be so.”

In addition, according to Van Dissel, the alleged effectiveness of non-medical face masks is nothing compared to the usefulness of other measures such as keeping sufficient distance from each other, washing hands regularly and staying at home in case of complaints. Earlier this week, the Outbreak Management Team, the advisory body of the cabinet which Van Dissel chairs, made some adjustments to the advice on face masks for the first time.

For example, the OMT wrote that masks could be recommended in places where sufficient distance from each other cannot always be kept “such as in busy shops”. For the same reason, a mask has been mandatory in public transport since June. According to Van Dissel, the change in the OMT advice has nothing to do with a changed view of mouth masks, but more to do with people’s sense of safety. “Of course, as OMT, we have also realized that some people would prefer to wear a mouth mask. If someone feels safer, we are fine with that,” he says.

 

The government says: wear a mask, and its chief scientific adviser says: don’t bother. Great message. And people don’t miss that. I’ve said it before: every government today should have a generous supply of N95 masks ready. They don’t because their experts long said they were not necessary. While some keep claiming cloth masks are useful, but “more to do with people’s sense of safety”.

I don’t know about you, but all these people with these useless masks on where they’re not needed, like outside, don’t make me feel safe at all. They make me think I’m surrounded by fools. And is anyone going to believe that 4 at a table is better than 10? How can they when just across the border the opinion is so different? If you ask me, the time of being able to order your citizens around on what to do and what not, may be ending for many governments. And they have only themselves to blame.

The only realistic thing to do at this point appears to be to give people back their own responsibility. If only because taking it away from them didn’t work.

 

 

 

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Dec 052019
 
 December 5, 2019  Posted by at 9:38 am Finance Tagged with: , , , , , , , , , , ,  9 Responses »


Arthur Rothstein Interior of migratory fruit worker’s tent, Yakima, Washington Jul 1936

 

The Market Will Need The Fed Again In 2020 (Axios)
The Repo Market Is Broken And Fed Injections Are Not A Lasting Solution (MW)
Is Something Broken? Quants Running “Scared” As Nothing Makes Sense (ZH)
Legal Experts Called By Democrats Say Trump’s Actions Are Impeachable (R.)
Gaetz Grills Impeachment Witnesses Over Democratic Donations (Fox)
Judiciary Committee Member: Unfair, Politically Biased Ordeal (USAT)
The 10 Most Important Revelations From The Russia Probe FISA Report (Solomon)
Illinois’ Unfunded Pension Liability Rises To $137.3 Billion (R.)
China Set To Make History With Record Number Of Bond Defaults In 2019 (ZH)
France Braces For Biggest Strikes Of Macron’s Presidency (G.)
Uber Faces £1,500,000,000 Bill For Unpaid VAT (Metro)
Julian Assange in Videoconference: The Spanish Case Takes a Turn (IPD)

 

 

The Fed will never be able to get out. That was clear the moment they stepped in.

The Market Will Need The Fed Again In 2020 (Axios)

The No.1 risk to the stock market continuing its outperformance next year is not President Trump or consistently weak U.S. economic data or even China, senior analysts at John Hancock Investment Management say, but whether or not the Fed continues to stimulate the economy through what they call “not QE.” What it means: Fed chair Jerome Powell has insisted the central bank’s bond buying program — initiated after rates in the systemically important repo market spiked to five times their normal level in September — is not quantitative easing. But “it walks and talks” like QE, analysts say, and has injected close to $1 trillion of liquidity into the repo market and added more than $260 billion to the Fed’s balance sheet.

The intrigue: The new “not QE” program was “like a fourth rate cut this year,” John Hancock co-chief investment strategist Matthew Miskin said during a media briefing Tuesday in New York. And it has given a boost to the stock market. The big picture: “The equity market has benefited from a super aggressive Fed,” Ethan Harris, head of global economics at Bank of America Merrill Lynch, told Axios during a separate event Tuesday at BAML headquarters. “I mean the Fed basically anesthetized the markets to the trade war escalation this summer.”

Because the Fed was able to mask the economy’s pain from the market, a strong sell-off may be needed to motivate the Trump administration to secure what Harris calls a “skinny” trade deal with China and avert the Dec. 15 tariffs that will hit billions of dollars worth of consumer goods. The converse is also true, Miskin argued. “If things turn more sour because we’re not getting a trade deal or the tariffs go on Dec. 15, the stress underpinning … the market will re-emerge and the Fed’s definitely going to have to be there,” he told Axios.

Read more …

End the Fed.

The Repo Market Is Broken And Fed Injections Are Not A Lasting Solution (MW)

The Federal Reserve’s ongoing efforts to shore up the short-term “repo” lending markets have begun to rattle some market experts. The New York Federal Reserve has spent hundreds of billions of dollars to keep credit flowing through short term money markets since mid-September when a shortage of liquidity caused a spike in overnight borrowing rates. But as the Fed’s interventions have entered a third month, concerns about the market’s dependence on its daily doses of liquidity have grown. “The big picture answer is that the repo market is broken,” said James Bianco, founder of Bianco Research in Chicago, in an interview with MarketWatch. “They are essentially medicating the market into submission,” he said. “But this is not a long-term solution.”

This chart shows the more than $320 billion of total repo market support from the Fed since Sept. 17, when for the central bank began pumping in daily liquidity after overnight lending rates jumped to almost 10% from nearly 2%. Initially, the central bank rolled out roughly $75 billion in daily lending facilities to arm Wall Street’s core set of primary dealers with low-cost overnight loans to keep the roughly $1 trillion daily U.S. Treasury repo market running. The facilities allow banks to snap up loans by pledging safe-haven U.S. Treasurys or agency mortgage-backed securities with the New York Fed, but crucially without the typical risk-based pricing that lenders regularly charge when funding each other.

Read more …

“..the answer is yes: the market is broken, and you can thank central banks for that.”

Is Something Broken? Quants Running “Scared” As Nothing Makes Sense (ZH)

It was a year where the S&P put the mini bear market of December 2018 in the dust, and after a dramatic reversal which saw most central banks flip from hawkish to dovish throughout the year…

… the MSCI World index is just shy of its January 2018 highs, and the S&P has returned an impressive 24% (despite the jittery start to December), and stands at all time record highs, despite, paradoxically, a year of record equity fund outflow. On paper, this should have been a great year for investors after a dismal 2018. In reality, however, 2019 has been just as painful for not just for hedge funds, which have substantially underperformed the S&P again and in October saw a record 8 consecutive months of outflows, the most since the financial crisis…

… but especially for quants, which after a relatively solid year, suffered the September quant crash that destroyed most of their YTD gains, and have generally been unable to find their bearings in a year in which nothing seemed to work. It’s also Georg Elsaesser, a Frankfurt-based fund manager at Invesco, is trying to calm down his newbie quant clients as choppy stock moves make life difficult for anyone trading factors, which wire up all those systematic portfolios on Wall Street. “Some of them are kind of scared,” Elsaesser told Bloomberg. “They’re asking the questions: Is something going wrong? Is something broken?” Well actually, the answer is yes: the market is broken, and you can thank central banks for that.

Read more …

All three are Democrat donors who have a deep dislike of Trump. They couldn’t hide that, didn’t even try, instead went on RussiaRussia rants.

But this was supposed to be about the Constitution, not about their opinions. Turley was the only one who stuck to what was on the table.

Legal Experts Called By Democrats Say Trump’s Actions Are Impeachable (R.)

The hearing on Wednesday was the committee’s first to examine whether Trump’s actions qualify as “high crimes and misdemeanors” punishable by impeachment under the U.S. Constitution. Three law professors chosen by the Democrats made clear during the lengthy session that they believed Trump’s actions constituted impeachable offenses. “If what we’re talking about is not impeachable, then nothing is impeachable,” said University of North Carolina law professor Michael Gerhardt. But George Washington University law professor Jonathan Turley, who was invited by the Republicans, said he did not see clear evidence of illegal conduct. He said the inquiry was moving too quickly and lacked testimony from people with direct knowledge of the relevant events.

“One can oppose President Trump’s policies or actions but still conclude that the current legal case for impeachment is not just woefully inadequate, but in some respects, dangerous, as the basis for the impeachment of an American president,” said Turley, who added that he did not vote for Trump. [..] Republicans focused their questions on Turley, who largely backed up their view that Democrats had not made the case for impeachment – although he did say that leveraging U.S. military aid to investigate a political opponent “if proven, can be an impeachable offense.” Democrats sought to buttress their case by focusing their questions on the other three experts – Gerhardt, Harvard University law professor Noah Feldman and Stanford University law professor Pam Karlan – who said impeachment was justified.

Karlan drew a sharp response from Republicans for a remark about how Trump did not enjoy the unlimited power of a king. “While the president can name his son Barron, he can’t make him a baron,” she said. White House spokeswoman Stephanie Grisham on Twitter called Karlan “classless,” and first lady Melania Trump said Karlan should be “ashamed of your very angry and obviously biased public pandering” for mentioning her 13-year-old son.

Read more …

Matt Taibbi: “We laughed at this logic when George W. Bush used it to justify his Mideast wars: “We will fight them over there so we do not have to face them in the United States of America.”

Michael Tracey: “This woman was ostensibly called to testify about the legal and Constitutional questions around impeachment and instead ends up going on a bizarre Cold Warrior rant implying that Russia plans to invade the United States”

Gaetz Grills Impeachment Witnesses Over Democratic Donations (Fox)

Turning to the professors, he asked UNC-Chapel Hill Professor Michael Gerhardt to confirm that he donated to President Barack Obama. “My family did, yes,” Gerhardt responded. Shifting his attention to Harvard Law Professor Noah Feldman, Gaetz noted the educator has written several articles that portray Trump in a negative light. “Mar-a-Lago ad belongs in impeachment file,” Gaetz said, repeating the title of an April 2017 piece Feldman wrote for Bloomberg Opinion. Gaetz further pressed Feldman, asking him: “Do you believe you’re outside of the political mainstream on the question of impeachment?” Responding to Gaetz, Feldman said impeachment is warranted whenever a president abuses their power for personal gain or when they “corrupt the democratic process.”

The professor added he was an “impeachment skeptic” until the July 25 call between Trump and Ukrainian leader Volodymyr Zelensky. After the exchange, Gaetz turned to Stanford Law Professor Pamela Karlan and challenged her on reported four-figure donations to Clinton, Obama and Sen. Elizabeth Warren, D-Mass. “Why so much more for Hillary than the other two?” he added, smiling. The Florida lawmaker went on to criticize Karlan for a remark she made while answering an earlier question by Rep. Sheila Jackson Lee, D-Texas. Karlan had told Jackson Lee that there is a difference between what Trump can do as president and the powers of a medieval king. “The Constitution says there can be no titles of nobility, so while the president can name his son ‘Barron’, he can’t make him a baron.”

Gaetz fumed at the remark, saying it does not lend “credibility” to her argument. “When you invoke the president’s son’s name here, when you try to make a little joke out of referencing Barron Trump… it makes you look mean, it makes you look like you are attacking someone’s family: the minor child of the president of the United States.”

Read more …

Rep. Debbie Lesko, R-Ariz., serves on the House Judiciary Committee.

Judiciary Committee Member: Unfair, Politically Biased Ordeal (USAT)

By now we have all heard the news that President Donald Trump’s counsel will not be participating in the House Judiciary Committee’s first impeachment hearing Wednesday. As a member of the committee, I believe President Trump has made the right decision. In their obsession and rush to impeach the president by the end of the year, Democrats have rigged the process from the start. I wouldn’t blame anyone, let alone the president, for being skeptical about this unfair process. Closed door secret meetings, selectively leaked details, refusing to allow Republican witnesses, and releasing the Schiff report and witness list right before the hearing all indicate an unfair, politically biased ordeal.


With little to no information provided by Judiciary Chairman Jerry Nadler, right now it appears anything goes. The president was provided little notice and no indication of who would be the witnesses or if there would be additional hearings. This leaves more questions than answers as we head into the next phase of an already tainted process. House Democrats do not seem to grasp that they cannot legitimize such an illegitimate process halfway through. This process has been unfair for the president and the Republicans from the start, with Democrats ignoring the historical precedents outlined in the Clinton and Nixon impeachments. When it comes to Trump, Democrats have created a whole new set of rules. For them, the end justifies the means, no matter how devoid of due process and fairness those means are.

Read more …

I don’t have space for all 10, but Solomon is a must read.

The 10 Most Important Revelations From The Russia Probe FISA Report (Solomon)

Derogatory information about informant Christopher Steele The FBI stated to the court in a footnote that it was unaware of any derogatory information about the former MI6 agent it was using as “confidential human source 1” in the Russia case. This claim could face a withering analysis in the report. Congressional sources have reported to me that during a recent unclassified meeting they were told the British government flagged concerns about Steele and his reliance on “sub-sources” of intelligence as early as 2015. Bruce Ohr testified he told FBI and DOJ officials early on that he suspected Steele’s intelligence was mostly raw and needed vetting, that Steele was working with Hillary Clinton’s campaign in some capacity and appeared desperate to defeat Trump in the 2016 election.

And documents show State Department official Kathleen Kavalec alerted the FBI eight days before the first FISA warrant was obtained that Steele may have been peddling a now-debunked rumor that Trump and Vladimir Putin were secretly communicating through a Russian bank’s computer server. Most experts I talked with say each of these revelations might constitute derogatory information that should be disclosed to the court. On a related note, Horowitz just released a separate report that concluded the FBI is doing a poor job of vetting informants like Steele, suggesting there was a culture of withholding derogatory information from informants’ reliability and credibility validation reports.

News leaks as evidence One of Horowitz’s earlier investigative reports that recommended fired FBI Deputy Director Andrew McCabe for possible prosecution put an uncomfortable spotlight on the bureau’s culture of news leaks. Since then, a handful of other cases unrelated to Russia have raised additional questions about whether the FBI uses news leaks to create or cite evidence in courts. One key to watch in the Horowitz report is the analysis of whether it was appropriate for the FBI to use a Yahoo News article as validating evidence to support Steele’s dossier. We now know from testimony and court filings that Steele, his dossier and Fusion GPS founder Glenn Simpson played a role in that Yahoo News story.

Read more …

It’s not just the Fed, but they haven’t exactly helped.

Illinois’ Unfunded Pension Liability Rises To $137.3 Billion (R.)

Illinois’ growing unfunded pension liability, which increased by $3.8 billion to $137.3 billion at the end of fiscal 2019, underscores the need for state action to boost funding or cut costs, analysts said on Wednesday. The increase was fueled by actuarially insufficient state contributions and lower-than-expected investment returns, according to a new state legislative report. Illinois has the lowest credit ratings among U.S. states at a notch or two above the junk level due to its huge unfunded pension liability and chronic structural budget deficit.


Eric Kim, a Fitch Ratings analyst, said growth in the unfunded liability is expected to continue as long as contributions lag actuarial requirements and pension benefits are protected under the Illinois Constitution. “For us, what this all speaks to is the state addressing fundamental structural budget challenges,” he said. Earlier this year, Governor J.B. Pritzker created pension task forces, including one to explore asset sales to boost pension funding. Laurence Msall, president of Chicago-based government finance watchdog the Civic Federation, said the state has not effectively attacked core pension problems, including unsustainable costs. “At best Illinois is running in place, while trying to avoid sliding downhill,” he said.

Read more …

A normal market phenomenon?

China Set To Make History With Record Number Of Bond Defaults In 2019 (ZH)

While China is bracing for what may be a historic D-Day event on December 9, when the “unprecedented” default of state-owned, commodity-trading conglomerate Tewoo with $38 billion in assets may take place, it has already been a banner year for Chinese bankruptcies. According to Bloomberg data, China is set to hit another dismal milestone in 2019 when a record amount of onshore bonds are set to default, confirming that something is indeed cracking in China’s financial system and “testing the government’s ability to keep financial markets stable as the economy slows and companies struggle to cope with unprecedented levels of debt.”

After a brief lull in the third quarter, a burst of at least 15 new defaults since the start of November have sent the year’s total to 120.4 billion yuan ($17.1 billion), and set to eclipse the 121.9 billion yuan annual record in 2018. The good news is that this number still represents a tiny fraction of China’s $4.4 trillion onshore corporate bond market; the bad news is that the rapidly rising number is approaching a tipping point that could unleash a default cascade, and in the process fueling concerns of potential contagion as investors struggle to gauge which companies have Beijing’s support. As Bloomberg notes, policy makers have been walking a tightrope as they try to roll back the implicit guarantees that have long distorted Chinese debt markets, without dragging down an economy already weakened by the trade war and tepid global growth.

Read more …

The French know how to strike.

France Braces For Biggest Strikes Of Macron’s Presidency (G.)

Emmanuel Macron is braced for the biggest strikes of his presidency as French rail workers, air-traffic controllers, teachers and public sector staff take to the streets on Thursday against proposed changes to the pension system. French rail transport is expected to almost completely grind to a halt with 82% of drivers on strike and at least 90% of regional trains cancelled, amid fears that the transport disruption could continue for days. In Paris, 11 out of 16 metro lines will shut completely, with commuters scrambling to hire bikes and scooters. Many schools will close and even some police unions have even warned of “symbolic” closures of certain police stations. Shops along the route of a march in Paris have been advised to close in case of violence on the edges of the demonstration. About half of the scheduled Eurostar trains between Paris and London have been cancelled.


The standoff is a crucial test for the centrist French president, whose planned overhaul of the pensions system was a key election promise. The government argues that unifying the pensions system – and getting rid of the 42 “special” regimes for sectors ranging from rail and energy workers to lawyers and Paris Opera staff – is crucial to keep the system financially viable as the French population ages. But unions say introducing a “universal” system for all will mean millions of workers in both the public and private sectors must work beyond the legal retirement age of 62 or face a severe drop in the value of their pensions. The row cuts to the heart of Macron’s presidential project and his promise to deliver the biggest transformation of the French social model and welfare system since the postwar era.

Read more …

Does Uber have more lawyers than drivers?

Uber Faces £1,500,000,000 Bill For Unpaid VAT (Metro)

Car-sharing giant Uber is a step closer to being liable for an estimated £1.5 billion in unpaid UK tax. Campaigners have won an important legal step that could pave the way for the taxman to come knocking on the beleaguered firm’s door. The move is on top of another legal challenge to stop Uber operating in London. Uber has long-argued that it is a platform that brings drivers and riders together, rather than a transport business. This means that it falls to individual drivers to pay VAT on any rides instead of the company itself. But as the threshold for VAT is only for individuals earning more than £85,000 a year, none of the drivers need to charge it. Campaigners from the Good Law Project calculates this has cost the public £1.5 billion in lost revenue so far.


The law team initially attempted to take Uber to court to force them to disclose their tax affairs but the case looked like being too expensive. Instead, they challenged HM Revenues and Customs and demanded the taxman assess Uber for VAT liabilities. HMRC objected, saying its dealings with Uber were commercially sensitive and it should not have to disclose whether or not it is investigating. Today the Court of Appeal rejected HMRC’s arguments and Mrs Justice Lieven said HMRC now had to disclose whether or not they had made an assessment over Uber’s payment of VAT. The case for the Good Law Project is being led by anti-Brexit campaigner Jolyon Maugham QC who said: ‘The more time passes without an assessment being raised the more VAT is lost – forever.’

Read more …

Again, Assange -with his aides- is the only person who has abided by the law. All other parties involved have not. That should have a huge bearing on the case.

Julian Assange in Videoconference: The Spanish Case Takes a Turn (IPD)

The UK Central Authority has had a change of heart. On December 20, Assange is set to be transferred from his current maximum-security abode, Belmarsh, to Westminster Magistrates Court to answer questions that will be posed by De la Mata. To date, the evidence on Morales and the conduct of his organisation is bulking and burgeoning. It is said that the company refurbished the security equipment of the London Ecuadorean embassy in 2017, during which Morales installed surveillance cameras equipped with microphone facilities. While Ecuadorean embassy officials sought to reassure Assange that no recordings of his private conversations with journalists or legal officials were taking place, the opposite proved true.

An unconvinced Assange sought to counter such measures with his own methods. He spoke to guests in the women’s bathroom. He deployed a “squelch box” designed to emit sounds of disruption. These were treated as the measures of a crank rather than those of justifiable concern. The stance taken by Ecuador has not shifted, despite claims by Morales that any recordings of Assange were done at the behest of the Ecuadorean secret service. Instead, Ecuador’s President Lenín Moreno has used the unconvincing argument that Assange, not Ecuador, posed the espionage threat. “It is unfortunate that, from our territory and with the permission of authorities of the previous government, facilities have been provided within the Ecuadorean embassy in London to interfere in the processes of other states.” The embassy, he argued, had been converted into a makeshift “centre for spying.”

German broadcasters NDR and WDR have also viewed documents discussing a boastful Morales keen to praise his employees for playing “in the first league…We are now working for the dark side.” The dark side, it transpires, were those “American friends,” members of the “US Secret Service” that Morales was more than happy to feed samples to. NDR has added its name to those filing charges against UC Global for allegations that its own journalists were spied upon in visiting the Ecuadorean embassy in London.

The allegations have the potential to furnish a case Assange’s lawyers are hoping to make: that attaining a fair trial in the United States should he be extradited to face 18 charges mostly relating to espionage would be nigh impossible. The link between UC Global, the US intelligence services, and the breach of attorney-client privilege, is the sort of heady mix bound to sabotage any quaint notions of due process. The publisher is well and truly damned.

Read more …

 

Simon Kuestenmacher: Map shows that #lightning follows shipping lanes: As it turns out particles in ship exhaust increase the likelihood and intensity of thunderstorms. Really cool fact that I had never considered! Source: https://buff.ly/2B0tcOV

 

 

 

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Dec 042019
 
 December 4, 2019  Posted by at 6:47 pm Finance Tagged with: , , , , , , , ,  4 Responses »


Vincent van Gogh Vase with honesty 1884-85

 

There are things you just cannot do. Partisanship, even the semblance of it, when discussing the US Constitution, is certainly one of them. But there we go: in Jerry Nadler’s Judiciary Committee hearings starting today, the Democrats get to pick 3 Constitutional experts, vs just one for the Republicans. There is no bigger no-no.

This is not about whether Trump has tried to bribe Ukraine president Zelensky, something the latter has denied quite vehemently multiple times, this is about the Constitution, the document that holds the entire country together, the paper that everyone will cite whenever it appears to favor their views. But which should also be a beacon when those views get blurred.

You cannot make the Constitution play second fiddle to party politics. But that’s what just happened. Trump already sounds almost lackadaisical about it, after all he’s been through for 3 years: “They get three constitutional lawyers… and we get one..” “That’s not sounding too good, and that’s the way it is. “It’s all nonsense, just wasting their time, and we get one. Ok. Nobody needs to know anything about constitutional law..”

I don’t think he should be that accepting. He should protect the Constitution instead. That’s in the job description of a US president.

 

Trump Impeachment: Law Experts Have Their Say In New Congress Hearings

The judiciary committee has the power to formally draft articles of impeachment and submit them for a full vote in the House of Representatives. The committee is hearing on Wednesday from four law professors – three picked by Democrats and one by Republicans. Chosen by the Democrats are Stanford University’s Pamela Karlan, Harvard University’s Professor Noah Feldman and from the University of North Carolina, Michael Gerhardt. George Washington University’s Jonathan Turley was picked by Republicans.

The lawyers will interpret the impeachment clause of the constitution, which allows for presidents to be removed from office due to “high crimes and misdemeanours”. The White House was invited to participate in the hearing, but on Sunday declared that they would not send any administration officials to attend. Mr Trump was scheduled to return from London to Washington later on Wednesday, after the first judiciary hearing has concluded. But on Wednesday, Mr Trump announced that he would depart early, skipping a final news conference “because we did so many over the past two days”.

His hasty departure came soon after a video emerged of other world leaders at the Nato conference appearing to mock him. “They get three constitutional lawyers… and we get one,” Mr Trump said on Tuesday during a bilateral meeting with Canadian Prime Minister Justin Trudeau in London. “That’s not sounding too good, and that’s the way it is. “It’s all nonsense, just wasting their time, and we get one. Ok. Nobody needs to know anything about constitutional law,” he said.

 

 

Kamala Harris just ended her presidential bid. She was a forerunner not long ago. Can we hand kudos to Tulsi Gabbard for this? This bit of news came in as I was watching Hillary refusing to rule out another run in 2020 on a BBC TV show. They still don’t get it, do they, why they lost, but that’s probably because they have no candidates. Other than Tulsi.

Joe Biden will not survive Burisma, there’s no way. Bernie Sanders and Elizabeth Warren are at this moment both too far left for flyover country, and you would have to worry about their charisma to begin with. Hillary has some charisma alright, but she’s not a popular person across the nation; she’s downright despised among large groups of people, the same way Trump is among other groups. A bit of a Mexican stand-off?!

Jerry Nadler, who Devin Nunes said recently had been “in a witness protection program because of the failed Mueller probe”, will kick off another round of “impeachment” (or is it censure by now?) inquiries, to which he invited Trump knowing full well the latter would be in London for a NATO summit that day.

 

 

Lisa Page lied to her direct boss, FBI deputy head Andrew McCabe, about her relationship with FBI Deputy Assistant Director Peter Strzok, while she was working there -as a lawyer- as well. Strzok was thrown off the Mueller investigation, which was all FBI, because his partisanship even in those partisan settings had become all too obvious. He was later fired outright by the FBI. Page “left on her own accord”.

And now Lisa Page decides to speak out under the really strange headline ‘There’s No Fathomable Way I Have Committed Any Crime at All’ because Trump appears mean to her. “Trump Target” was part of so many headlines the past few days you’d think all the “reporters” and editors who used it were communicating about it. But maybe not, maybe by now they no longer need instructions or meetings, maybe it all seems natural at this point.

Thing is, way before Page could even remotely could have been a Trump target, if there is such a thing, because he had no idea she existed in 2016, Trump had become a Lisa Page -and Peter Strzok- target. We know this from thousands of emails the lovebirds sent each other. “[Trump’s] not ever going to become president, right? Right?!” Page texted Strzok in August 2016, during the investigation into the campaign. “No. No he won’t. We’ll stop it,” Strzok responded. In another text message sent in August by Strzok to Page, he said “I want to believe the path you threw out in Andy’s [McCabe’s] office—that there’s no way he gets elected—but I’m afraid we can’t take the risk. It’s like an insurance policy in the unlikely event you die before you’re 40.”

But Lisa decided to go on record at the Daily Beast as a victim, a Trump Target. One must truly wonder what made her do that, at this particular point in time. We can speculate about the upcoming Horowitz report, or the Durham investigation, all we want, but we just don’t know. That she won’t be named in either would seem far-fetched though. And maybe she knows that too. The DOJ IG said:

“We found that the conduct of these five FBI employees brought discredit to themselves, sowed doubt about the FBI’s handling of the Midyear investigation, and impacted the reputation of the FBI,” the inspector general wrote in 2018 of Page and pals.


“Moreover, the damage caused by their actions extends far beyond the scope of the Midyear investigation and goes to the heart of the FBI’s reputation for neutral factfinding and political independence. We were deeply troubled by text messages exchanged between Strzok and Page that potentially indicated or created the appearance that investigative decisions were impacted by bias or improper considerations.”

While a somewhat curious, in the context, bit from Zero Hedge says:

“Page insists that Trump wasn’t the target of the 2016 investigation into his campaign, and that the FBI learned of “the possibility that there’s someone on the Trump campaign coordinating with the Russian government in the release of emails, which will damage the Clinton campaign.” “We were very deliberate and conservative about who we first opened on because we recognized how sensitive a situation it was,” Page says. “So the prospect that we were spying on the campaign or even investigating candidate Trump himself is just false. That’s not what we were doing.”

Again, there are 1000’s of emails between Strzok and Page that confirm they were targeting Trump, and not some unknown Russian. Her claims about this make zero sense. The best way to approach this is perhaps this Jordan Schachtel tweet:

 

 

Is the FBI more interested in harming Trump than it is in the harm done to its own organization? It seems obvious it was in 2016. How is that now? Am I a conspiracy theorist for even thinking about it? As always, just when you think you’ve seen it all, there turns out to be more from where that came from.

 

 

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Oct 202016
 
 October 20, 2016  Posted by at 9:48 am Finance Tagged with: , , , , , , , , , ,  2 Responses »


Thomas Eakins Walt Whitman 1891

Fed Risks Repeating Lehman Blunder As US Recession Storm Gathers (AEP)
ECB Urges EU To Curb Virtual Money On Fear Of Losing Control (R.)
Saudi Arabia’s Bond: a Defining Trade for 2016 (WSJ)
How do Clinton and Trump’s Tax Plans Compare? (TF)
Trump is a Pink Elephant (Scott Adams)
California Launches Criminal Probe Into Wells Fargo Account Scandal (R.)
Who’s Powering the War on Cash? (DQ)
The Cult Of The Expert – And How It Collapsed (G.)
Theresa May To Tell EU Leaders ‘There Will Be No Second Referendum'(G.)
Australia Housing Boom Peak Has Passed – Morgan Stanley (BBG)
Did the White House Declare War on Russia? (Stephen F. Cohen)
What Obama’s Record Deportations Look Like (I’Cept)
Use Of Strongest Antibiotics Rises To Record Levels On European Farms (G.)

 

 

“The Bank for International Settlements estimates that 60pc of the world economy is locked into the US currency system, and that debts denominated in dollars outside US jurisdiction have ballooned to $9.8 trillion.”

Fed Risks Repeating Lehman Blunder As US Recession Storm Gathers (AEP)

The risk of a US recession next year is rising fast. The Federal Reserve has no margin for error. Liquidity is suddenly drying up. Early warning indicators from US ‘flow of funds’ data point to an incipent squeeze, the long-feared capitulation after five successive quarters of declining corporate profits. Yet the Fed is methodically draining money through ‘reverse repos’ regardless. It has set the course for a rise in interest rates in December and seems to be on automatic pilot. “We are seeing a serious deterioration on a monthly basis,” said Michael Howell from CrossBorder Capital, specialists in global liquidity. The signals lead the economic cycle by six to nine months. “We think the US is heading for recession by the Spring of 2017. It is absolutely bonkers for the Fed to even think about raising rates right now,” he said.

The growth rate of nominal GDP – a pure measure of the economy – has been in an unbroken fall since the start of the year, falling from 4.2pc to 2.5pc. It is close to stall speed, flirting with levels that have invariably led to recessions in the post-War era. “It is a little scary. When nominal GDP slows like that, you can be sure that financial stress will follow. Monetary policy is too tight and the slightest shock will tip the US into recession,” said Lars Christensen, from Markets and Money Advisory. If allowed to happen, it will be a deeply frightening experience, rocking the global system to its foundations. The Bank for International Settlements estimates that 60pc of the world economy is locked into the US currency system, and that debts denominated in dollars outside US jurisdiction have ballooned to $9.8 trillion.

The world has never before been so leveraged to dollar borrowing costs. BIS data show that debt ratios in both rich countries and emerging markets are roughly 35 percentage points of GDP higher than they were at the onset of the Lehman crisis. This time China cannot come to the rescue. Beijing has already pushed credit beyond safe limits to almost $30 trillion. Fitch Ratings suspects that bad loans in the Chinese banking system are ten times the official claim. The current arguments over Brexit would seem irrelevant in such circumstances, both because the City would be drawn into the flames and because the eurozone would face its own a shattering ordeal. Even a hint of coming trauma would detonate a crisis in Italy.

[..] The velocity of M1 money in the US has continued to slow, hitting a 40-year low of 5.75 over the summer, and markets are only just awakening to the unsettling thought that China’s latest boomlet has already topped out. Beijing is having to hit the brakes again. Crossborder said new rules for money market funds that came into force this month have complicated the picture, causing the stock of US commercial paper to shrivel by $200bn. Yet there are ways to filter out some of these effects. The plain fact is that 3-month lending rates in the off-shore ‘eurodollar’ markets in London have tripled since July to 0.93pc, sharply tightening conditions for global finance. Investors may have been too complacent in discounting these gyrations as part of a regulatory hiccup when something more sinister is emerging.

[..] Albert Edwards from Societe Generale says gross domestic income (GDI) was the most accurate gauge of the economy as the pre-Lehman crisis unfolded, and this measure has been flat for the last two quarters.”The pronounced weakness of GDI relative to GDP might be an ominous omen, for it may well be indicating that a US recession is already underway – just as it was in 2007,” he said.

Read more …

A central bank that tells politicians what legislation it desires can never again claim independence anymore.

ECB Urges EU To Curb Virtual Money On Fear Of Losing Control (R.)

The European Central Bank wants EU lawmakers to tighten proposed new rules on digital currencies such as bitcoin, fearing they might one day weaken its own control over money supply in the euro zone. The European Commission’s draft rules, aimed at fighting terrorism, require currency exchange platforms to increase checks on the identities of people exchanging virtual currencies for real ones and report suspicious transactions. In a legal opinion published on Tuesday, the ECB said EU institutions should not promote the use of digital currencies and should make clear they lack the legal status of currency or money.

“The reliance of economic actors on virtual currency units, if substantially increased in the future, could in principle affect the central banks’ control over the supply of money … although under current practice this risk is limited,” the ECB said in the opinion for the European Parliament and Council. “Thus (EU legislative bodies) should not seek in this particular context to promote a wider use of virtual currencies.” The ECB argues the Commission’s proposal does not go far enough as it does not cover the use of virtual money to buy goods and services. “Such transactions would not be covered by any of the control measures provided for in the proposal and could provide a means of financing illegal activities.”

Read more …

Dissaving.

Saudi Arabia’s Bond: a Defining Trade for 2016 (WSJ)

Want a single instrument that wraps together nearly every big political, financial and economic theme in today’s world? Saudi Arabia’s mammoth $17.5 billion bond issue, marking its debut in international markets, is it. The size of the deal is impressive but actually the least important thing about it. Big bond deals tend to build a momentum of their own. But it does speak to the search for yield. The $6.5 billion 30-year portion of Saudi Arabia’s bond is set to pay 2.1 percentage points more in yield than a comparable U.S. Treasury, or around 4.6%. That is a sizeable pickup in a world where developed-market bond yields are on the floor or in negative territory. That Saudi Arabia is doing the deal at all is a more telling factor: The oil bounty that has propelled the economy has run dry.

The 18-month-long rout in oil prices that started in 2014 sent the country hurtling from a budget surplus to a deficit in 2015 of 15.9% of GDP that is set to narrow only to 13% in 2016, according to the IMFd. In 2013, government debt stood at just 2.2% of GDP, according to Moody’s. By 2017, it is forecast to be 22.9%. The level isn’t a source of concern, but the swift change shows the country’s stark reversal of fortunes. In the near term, buyers of the bonds are betting largely on oil. Swings in the price are likely to have a direct impact on the perception of Saudi Arabia as a credit. The recovery in oil prices, which stand close to their high of the year, has eased concerns about financial stability and helps explain some of the enthusiasm for the deal. But further ahead, this is a bet on the ability and willingness of the country to transform itself while maintaining social and political stability.

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Explanations at the link. h/t Mish

How do Clinton and Trump’s Tax Plans Compare? (TF)

Both Hillary Clinton and Donald Trump have released tax plans during the campaign. The Tax Foundation has analyzed both the plans using our Taxes and Growth (TAG) model to estimate how their plans would impact taxpayers, federal revenues, and economic growth. Below, is a chart that contains all you need to know about the candidates’ plans.

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“..if you are afraid that Donald Trump is a racist/sexist clown with a dangerous temperament, you have been brainwashed by the best group of brainwashers in the business right now..”

Trump is a Pink Elephant (Scott Adams)

Here’s a little thought experiment for you: If a friend said he could see a pink elephant in the room, standing right in front of you, but you don’t see it, which one of you is hallucinating? Answer: The one who sees the pink elephant is hallucinating. Let’s try another one. If a friend tells you that you were both abducted by aliens last night but for some reason only he remembers it, which one of you hallucinated? Answer: The one who saw the aliens is hallucinating. Now let’s add some participants and try another one. If a crowd of people are pointing to a stain on the wall, and telling you it is talking to them, with a message from God, and you don’t see anything but a stain, who is hallucinating? Is it the majority who see the stain talking or the one person who does not? Answer: The people who see the stain talking are experiencing a group hallucination, which is more common than you think.

In nearly every scenario you can imagine, the person experiencing an unlikely addition to their reality is the one hallucinating. If all observers see the same addition to their reality, it might be real. But if even one participant can’t see the phenomenon – no matter how many can – it is almost certainly not real. Here I pause to remind new readers of this blog that I’m a trained hypnotist and a student of persuasion in all its forms. I’ve spent a lifetime trying to learn the tricks for discerning illusion from reality. And I’m here to tell you that if you are afraid that Donald Trump is a racist/sexist clown with a dangerous temperament, you have been brainwashed by the best group of brainwashers in the business right now: Team Clinton. They have cognitive psychologists such as Godzilla advising them. Allegedly.

I remind you that intelligence is not a defense against persuasion. No matter how smart you are, good persuaders can still make you see a pink elephant in a room where there is none (figuratively speaking). And Clinton’s team of persuaders has caused half of the country to see Trump as a racist/sexist Hitler with a dangerous temperament. That’s a pink elephant. As a public service (and I mean that literally) I have been trying to unhypnotize the country on this matter for the past year. I don’t do this because I prefer Trump’s policies or because I know who would do the best job as president. I do it because our system doesn’t work if you think there is a pink elephant in the room and there is not. That isn’t real choice. That is an illusion of choice.

Trump represents what is likely to be a once-in-a-lifetime opportunity to bring real change to a government that is bloated and self-serving. Reasonable people can disagree on policies and priorities. But Trump is the bigger agent for change, if that’s what you think the country needs. I want voters to see that choice for what it is. And it isn’t a pink elephant. If you are wondering why a socially liberal and well-educated cartoonist such as myself is not afraid of Trump, it’s because I don’t see the pink elephant. To me, all anti-Trumpers are experiencing a shared illusion.

Read more …

If you don’t even jail people for this kind of stuff, your justice system is fast eroding.

California Launches Criminal Probe Into Wells Fargo Account Scandal (R.)

The California Attorney General’s Office has launched a criminal investigation into Wells Fargo over allegations it opened millions of unauthorized customer accounts and credit cards, according to a seizure warrant seen by Reuters. Attorney General Kamala Harris authorized a seizure warrant against the bank that seeks customer records and other documents, saying there is probable cause to believe the bank committed felonies. The probe marks the latest setback for the bank in a growing scandal that led to the abrupt retirement of its chief executive officer, monetary penalties, compensation clawbacks, lost business and damage to its reputation.

[..] This is at least the second criminal probe to be opened into Wells Fargo since last month. In September a source told Reuters that federal prosecutors are also looking into the matter. An affidavit filed by Special Agent Supervisor James Hirt with the California Department of Justice reveals that interviews with possible victims of the fraud have already started. One victim, identified only as “Ms. B,” told the investigator that she had declined a request by a Wells Fargo teller in late 2011 or 2012 to open new accounts. But sometime in late 2013 or early 2014, she started to receive notices that she and her husband “allegedly owned on three life insurance policies held by the bank,” the affidavit says.

Read more …

Everyone with power is.

Who’s Powering the War on Cash? (DQ)

[..] cash’s days are numbered, as technological advances and changes in generational priorities dampen its allure. The world is brimming with individuals and institutions determined to put it out of its misery. Top of the list are the world’s central banks, which have the perfect motive for whacking cash: i.e. to make negative interest rates an eternal — or at least, more enduring — reality. And the only way to do that is to stop depositors from cashing out, as the Bank of England chief economist Andrew Hadlaine all but admitted in 2014. Japan and Europe are already deep into negative territory, and Fed Chair Janet Yellen has already said that the U.S. should be prepared for the same outcome. But as long as cash exists, there’s no way of preventing depositors from doing the logical thing – i.e. taking their money out of the bank and parking it where the erosive effects of NIRP can’t reach it.

Central banks are not the only ones who dream of a cash-free world. For credit card companies, cash is the ultimate rival. As such, it’s no surprise that the likes of Visa and MasterCard are among those pushing the hardest for a cashless economy. For banks, the benefits are no less obvious, including cost cuts, greater control over the flow of customer funds, and larger fees. As for politicians, Eurocrats and global plutocrats, including the senior servants of the IMF, World Bank and United Nations, they will enjoy even greater access to and dominion over the people’s funds. What better way of controlling the people than by controlling their access to the money they need to survive? It would amount to what Martin Armstrong calls “totalitarian control over the economy.”

These powerful agents have already created a perfect platform for achieving their dream: The Better Than Cash Alliance (BTCA), a UN-hosted partnership of governments, companies and international organizations. Its purpose, in its own words, is “to accelerate the transition from cash to digital payments globally through excellence in advocacy, knowledge and services to members.” The Better Than Cash Alliance’s membership list reads like a who’s who of some of the world’s most influential corporations and institutions. They include Coca Coca, Visa and Mastercard. Apple is, for now, conspicuously absent from the list, but in its place representing the tech industry is the Bill and Melinda Gates Foundation.

Also on the list are the Citi Foundation, the US Agency for International Development (USAID), and the World Saving Banks Institute, which represents 7,000 retail and savings banks worldwide. Member institutions range from powerful private foundations — including the Ford Foundation and the Clinton Development Initiative — to a bewildering alphabet soup of UN organizations, including WFP (the World Food Programme), UNFPA (the UN Population Fund), UNPD (the UN Development Program), IFAD (the International Fund for Agricultural Development) and UNCDF (the UN Capital Development Fund).

Read more …

Interesting theme, but in an article of this length, confining your self to central bankers only seems a shame.

The Cult Of The Expert – And How It Collapsed (G.)

When the history is written of the revolt against experts, September 2008 will be seen as a milestone. The $85bn rescue of the American International Group (AIG) dramatised the power of monetary gurus in all its anti-democratic majesty. The president and Congress could decide to borrow money, or raise it from taxpayers; the Fed could simply create it. And once the AIG rescue had legitimised the broadest possible use of this privilege, the Fed exploited it unflinchingly. Over the course of 2009, it injected a trillion dollars into the economy – a sum equivalent to nearly 30% of the federal budget – via its newly improvised policy of “quantitative easing”. Time magazine anointed Bernanke its person of the year. “The decisions he has made, and those he has yet to make, will shape the path of our prosperity, the direction of our politics and our relationship to the world,” the magazine declared admiringly.

The Fed’s swashbuckling example galvanized central bankers in all the big economies. Soon Europe saw the rise of its own path-shaping monetary chieftain, when Mario Draghi, president of the European Central Bank, defused panic in the eurozone in July 2012 with two magical sentences. “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro,” he vowed, adding, with a twist of Clint Eastwood menace, “And believe me, it will be enough.” For months, Europe’s elected leaders had waffled ineffectually, inviting hedge-fund speculators to test the cohesion of the eurozone. But now Draghi was announcing that he was badder than the baddest hedge-fund goon. Whatever it takes. Believe me.

In the summer of 2013, when Hollywood rolled out its latest Superman film, cartoonists quickly seized upon a gag that would soon become obvious. Caricatures depicted central-bank chieftains decked out in Superman outfits. One showed Bernanke ripping off his banker’s shirt and tie, exposing that thrilling S emblazoned on his vest. Another showed the bearded hero hurtling through space, red cape fluttering, right arm stretched forward, a powerful fist punching at the void in front of him. “Superman and Federal Reserve chairman Ben Bernanke are both mild-mannered,” a financial columnist deadpanned. “They are both calm, even in the face of global disasters. They are both sometimes said to be from other planets.”

Read more …

They’re going to roast her today, and not in a funny way.

Theresa May To Tell EU Leaders ‘There Will Be No Second Referendum'(G.)

Theresa May is to warn her 27 fellow European Union leaders over a working dinner in Brussels that Britain’s decision to leave is irreversible and there can be no second referendum. Thursday’s meeting of the European council will be the prime minister’s first opportunity to address the leaders of all the other member states since the UK voted to leave the European Union in June. Donald Tusk, the European council president, has insisted Britain’s future relationship with the EU will not be on the formal agenda for the two-day meeting, but he will give May the opportunity to set out the “current state of affairs in the country” over coffee at the end of the meal.

A No 10 source said she would tell her fellow EU leaders: “The British people have made a decision and it’s right and proper that that decision is honoured. There will be no second referendum. The priority now has got to be looking to the future, and the relationship between the UK, once we leave”. The source added that the prime minister would also seek to reassure the other member states, amid growing fears that Brexit could unleash political and economic instability in Britain and the rest of Europe. “She wants the outcome at the end of this process to be a strong UK, as a partner of a strong EU,” the source said. “She doesn’t want the process of the UK leaving to be damaging for the rest of the EU. She wants it to be a smooth, constructive, orderly process.”

Read more …

Painful times ahead.

Australia Housing Boom Peak Has Passed – Morgan Stanley (BBG)

Australia’s housing boom has passed its peak, with a looming apartment glut set to lead to a sharp slowdown in future developments, according to Morgan Stanley. The slowdown in construction will hurt economic growth, put 200,000 jobs at risk and prompt the central bank to resume cutting interest rates next year, Morgan Stanley analysts led by Daniel Blake said in a note dated Oct. 19. “We believe the growth contribution from the housing boom has already peaked and look for a plateau over 2017 and decline through 2018,” the analysts said. The housing industry is also facing a “more imminent credit crunch” for purchases and developments, they said. “The greatest vulnerability is settlement risk on the 160,000 apartments we forecast being completed through the end of 2017,” they said in the report.

“Listed developers report low failure rates currently, but also confirm credit availability has tightened, especially for foreign investors. Non-bank credit is moving to plug the gap at higher interest rates, but we expect some projects will land with the receiver.” Shares of developer Lendlease Group slumped as much as 5.5% in Sydney trading Thursday after the company flagged a slowdown in building activity, saying Sydney apartment activity is peaking and the Melbourne apartment sector is facing a high level of supply. In May, all 391 apartments offered by Lendlease at a project in Sydney were snapped up in just four hours. A national housing oversupply of about 100,000 dwellings will develop by 2018, Morgan Stanley said, as a glut of apartment projects are completed, particularly in Sydney and Melbourne.

Read more …

Cohen is the no. 1 American expert on Russia. Audio file at the link.

Did the White House Declare War on Russia? (Stephen F. Cohen)

Nation Contributing Editor Stephen F. Cohen and John Batchelor continue their weekly discussions of the new US-Russian Cold War. Cohen reports that a statement by Vice President Joe Biden on NBC’s Meet the Press on October 16, released on October 14, stunned Moscow (though it was scarcely noted in the American media). In response to a question about alleged Russian hacking of Democratic Party offices, in order to disrupt the presidential election and even throw it to Donald Trump, Biden said the Obama administration was preparing to send Putin a “message,” presumably in the form of some kind of cyber-attack.

The Kremlin spokesman and several leading Russian commentators characterized Biden’s announcement as a virtual “American declaration of war on Russia” and as the first ever in history. Cohen observed that at this fraught stage in the new US-Russian Cold War, Biden’s statement, which clearly had been planned by the White House, could scarcely have been more dangerous or reckless—especially considering that there is no actual evidence or logic for the two allegations against Russia that seem to have prompted it. Biden was reacting to official US charges of Kremlin hacking for political purposes. Cohen points out that in fact no actual evidence for this allegation has been produced, only suppositions or, as Glenn Greenwald has argued, “unproven assertions.”

While the US political-media establishment has uncritically stated the allegation as fact, a MIT expert, professor Theodore Postol, has written that there is “no technical way that the US intelligence community could know who did the hacking if it was done by sophisticated nation-state actors.” Instead, Cohen suggests, the charges, leveled daily by the Clinton campaign as part of its McCarthyite Kremlin-baiting of Donald Trump, are mostly political, and he laments the way US intelligence officials have permitted themselves to be used for this unprofessional purpose. Moreover, it is far from clear that the Kremlin actually favors Trump, despite Clinton’s campaign claims.

Read more …

“Obama is now on pace to deport more people than the sum of all 19 presidents who governed the United States from 1892-2000..”

What Obama’s Record Deportations Look Like (I’Cept)

Donald Trump noted during the third presidential debate that the Democratic president, Barack Obama has deported millions of people. Indeed, Obama has deported more people than any modern president. From January, at Fusion.net: “Donald Trump’s bilious blather about immigrants reminds us—more often than most people need reminding—that words matter. But the Obama administration’s recent wave of police-state raids on Central American women and children, whose only crime is poverty and a lack of proper paperwork, reminds us that actions matter too. When it comes to getting tough on immigration, Republican candidates talk the talk, but Obama walks the walk. Obama has deported more people than any U.S. president before him, and almost more than every other president combined from the 20th century.

“Immigration-flow numbers are staggering in both directions. In 2014, it’s estimated that more than 200,000 Central Americans tried to emigrate to the United States without documentation. But the Obama government has been deporting them as fast as it can. Since coming to office in 2009, Obama’s government has deported more than 2.5 million people—up 23% from the George W. Bush years. More shockingly, Obama is now on pace to deport more people than the sum of all 19 presidents who governed the United States from 1892-2000, according to government data.

“And he’s not done yet. With the clock ticking down his final months in office, Obama appears to be running up the score in an effort to protect his title as deporter-in-chief from future presidents. To pad the numbers, Homeland Security is now going after the lowest-hanging fruit: women and children who are seeking asylum from violence in Central America. “This is the only time I remember enforcement raids on families of women and children who are fleeing some of the most violent places on the planet,” says Royce Bernstein Murray, director of policy for the National Immigrant Justice Center.

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Intelligent species.

Use Of Strongest Antibiotics Rises To Record Levels On European Farms (G.)

Use of some of the strongest antibiotics available to treat life-threatening infections has risen to record levels on European farms, new data shows. The report reinforces concerns about the overuse of antibiotics on farms, following revelations from the Guardian of the presence of the superbug MRSA in UK-produced meat, in imported meat for sale in UK supermarkets, and on British farms. According to the data from the European Medicines Agency, medicines classified as “critically important in human medicine” by the World Health Organisation appear to be in frequent use on farm animals across the major countries of the EU, including the UK.

This comes in spite of WHO advice that, because of their importance, these drugs should be used only in the most extreme cases, if at all, in treating animals. The latest report from the EMA collates data from member states on the sales of antibiotics for veterinary purposes in 2014, and shows that antibiotic use on farms fell by about 2% on the previous year overall, and by as much as 12% in many countries. But this disguises the rise in the use of the strongest medicines, such as colistin, which is a last resort for life-threatening human illness. The percentage of antibiotics sales made up by the most potent antibiotics remained steady or in some cases increased slightly, indicating an increase in the amount of so-called critically important antibiotics used.

For instance, sales of fluoroquinolones – the newest versions of which are used to treat life-threatening illnesses including pneumonia and Legionnaire’s disease – stood at 141 tonnes across the countries surveyed in 2013, and rose to 172 tonnes in 2014. Sales of macrolides, also classed as critically important to human health, rose from 59 to 67 tonnes in the same period. This shows that efforts to prevent the drugs most crucial for human health from being used in farming are failing.

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