Today’s News 21st October 2020

  • US Expands Nord Stream 2 Sanctions As Germany Vows Pipeline Completion "Not If, But When"
    US Expands Nord Stream 2 Sanctions As Germany Vows Pipeline Completion “Not If, But When”

    Tyler Durden

    Wed, 10/21/2020 – 02:45

    Secretary of State Mike Pompeo has long vowed he’ll “do everything” to stop Nord Stream 2, last month indicating the US is building a coalition of countries to fight against it, given Washington sees it as a massive compromise to Russia, giving it leverage over Europe as well as Ukraine. 

    “From the US point of view, Nord Stream 2 endangers Europe because it makes it dependent on Russian gas and endangers Ukraine – which in my opinion worries many Germans,” Pompeo said weeks ago.

    On Tuesday the State Department expanded US sanctions targeting companies working on the Russia to Germany gas pipeline. While sanctions already target the specific European companies and their executives directly at work on the project, they’ve now been extended to include sanctions even on firms upgrading, servicing, or installing equipment on the ships laying the pipeline.

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    Image via DW/DPA

    Here’s the relevant section on the State Department’s updated NS2 sanctions webpage:

    “Such activities subject to sanctions pursuant to PEESA (the Protecting Europe’s Energy Security Act of 2019) or other authorities may include, but are not limited to, providing services or facilities for upgrades or installation of equipment for those vessels, or funding for upgrades or installation of equipment for those vessels.”

    There remain some exceptions, however, out of environmental concerns. The State Department says the sanctions “will not apply to persons providing provisions to a relevant vessel if such provisions are intended for the safety and care of the crew aboard the vessel, the protection of human life aboard the vessel, or the maintenance of the vessel to avoid any environmental or other significant damage.”

    Likely this would be the loophole any such company put on notice over the new sanctions will use to evade punishment, given any repair or upgrade to a ship could be argued necessary over future “safety” and “environmental” concerns.

    Though Washington in a sense has won particular “battles” on the NS2 front, Russia and Germany have indicated the US will not win the “war” given that by all appearances the pipeline will be pursued to completion.

    One major victory for US sanctions was that Swiss pipelay company Allseas had abandoned its central roll in the project in December 2019 under threat of US punitive action. Russian gas giant Gazprom then outfitted its own ships to lay the last 100 miles of the pipeline.

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    Swiss-Dutch offshore company Allseas pulled out of the project in Dec. 2019. Image source: EPA/EFE

    Just days ago, German Foreign Minister Heiko Maas reaffirmed that the pipeline will indeed be completed. He said at this point project completion is essentially not if but when. He emphasized in comments the only question that remains is precisely “when this will happen”.

    He underscored in an indirect shot at the Trump administration: “We make decisions about our energy policy and energy supply here – in Europe.”

  • Armenian Forces Use Their Last Chance To Turn Tide Of War With Azerbaijan
    Armenian Forces Use Their Last Chance To Turn Tide Of War With Azerbaijan

    Tyler Durden

    Wed, 10/21/2020 – 02:00

    Submitted by SouthFront,

    The Azerbaijani Armed Forces have been developing their advance on Armenian positions in the contested Nagorno-Karabakh region. On October 19, they captured 13 more villages in the Jabrayil district. The capturing of Soltanli, Amirvarli, Mashanli, Hasanli, Alikeykhanli, Gumlag, Hajili, Goyarchinveysalli, Niyazgullar, Kechal Mammadli, Shahvalli, Haji Ismayilli and Isagli was personally announced by Azerbaijani President Ilham Aliyev. Early on October 20, Azerbaijani forces also reached the town of Tumas and engaged Armenian units deployed there. Pro-Azerbaijani sources insist that the town already fell into the hands of Baku.

    The country’s defense ministry claims that in the recent clashes Azerbaijani forces destroyed a number of enemy troops, at least 2 T-72 tanks, 2 BM-21 “Grad” MLRS, 1 D-30, 1 D-20 gun-howitzers, and 11 auto vehicles.

    On October 19, pro-Armenian sources for the first time provided video evidence that they had shot down at least one of the Bayraktar TB2 combat drones operated by the Azerbaijani military and Turkish specialists.  Meanwhile, the Armenian Defense Ministry claimed that 5 unmanned aerial vehicles were shot down during the evening of that day only.

    According to the Armenian side, the total number of Azerbaijani casualties in the war reached 6,259. 195 UAVs, 16 helicopters, 22 military planes, 566 armoured vehicles and 4 multiple rocket launchers of the Armed Forces of Azerbaijan were allegedly destroyed. Yerevan claims that the Armenian forces have repelled two powerful attacks in the northern part of Karabakh, while intense fighting has been ongoing in the south. Nonetheless, Armenian military officials avoid confirming the recent Azerbaijani advances and insist that the recent developments are just a part of modern maneuver warfare. By these claims, the political leadership of Armenia tries to hide that the Azerbaijani advance along the Iranian border faced little resistance.

    The Azerbaijani progress was mostly complicated by a limited number of mobile Armenian units, which were avoiding a direct confrontation and focusing on ambushes and mine warfare. According to reports, the Armenian side is now reinforcing its positions in the area of the Akari River seeking to prevent the further Azerbaijani advance towards the Armenian state border and the Lachin corridor.

    On the other hand, the goal of the Azerbaijani-Turkish bloc is to overcome this resistance and to develop the current momentum to reach the Lachin mountain pass thus threatening to cut off the shortest route between Armenia and the Republic of Artsakh. In the event of success, this would predetermine the Azerbaijani victory in the war. Military hostilities are ongoing amid another round of international diplomatic efforts to de-escalate the situation and return the sides to the negotiating table.President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan declared that they are ready to meet in Moscow. The Azerbaijani leader even said that his country is ready to halt the operation if Armenia demonstrates a constructive approach. Nonetheless, the ‘constructive approach of Armenia’ in the view of Azerbaijan is the full and public surrender of Karabakh. Such an agreement will mark the collapse of the current political leadership of Armenia and is unlikely to be accepted.Therefore, the war will likely continue until the military victory of one of the sides and that side would likely be Azerbaijan.

    Baku has already achieved an impressive breakthrough on the frontline if one compares the current situation with local military escalations in the previous years. As to Armenia, it will not likely be able to turn the tide of the conflict if it continues limiting its response to indirect support of forces of the Republic of Artsakh instead of a direct military action to repel the Azerbaijani-Turkish bloc. Clashes of the previous weeks already demonstrated that Baku has an upper hand in the current format of the military standoff in Karabakh. Therefore, if Yerevan really wants to change something, it should change the rules of the game even if this would create additional risks for Armenia itself.

  • Former MI6 Spy Alastair Crooke: "The Two Undersides To Geo-Politics"
    Former MI6 Spy Alastair Crooke: “The Two Undersides To Geo-Politics”

    Tyler Durden

    Wed, 10/21/2020 – 00:05

    Authored by Alastair Crooke via The Strategic Culture Foundation,

    At the explicit level, today’s geo-political struggle is about the U.S. maintaining its primacy of power – with financial power being a subset to this political power. Carl Schmitt, whose thoughts had such influence on Leo Strauss and U.S. thinking generally, advocated that those who have power should ‘use it, or lose it’. The prime object of politics therefore being to preserve one’s ‘social existence’.

    But at the underside, Tech de-coupling from China is one implicit aspect to such a strategy (camouflaged beneath the catch-phrase of recovering ‘stolen’ U.S. jobs and intellectual property): The prize that America truly seeks is to seize for itself over the coming decades, all global standards in leading-edge technology, and to deny them to China.

    Such standards might seem obscure, but they are a crucial element of modern technology. If the cold war was dominated by a race to build the most nuclear weapons, today’s contest between the U.S. and China — as well as vis à vis the EU — will at least partly be played out through a struggle to control the bureaucratic rule-setting that lies behind the most important industries of the age. And those standards are up for grabs.

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    China Central Television (CCTV) building in the Beijing Central Business District

    China has long been strategically positioning itself to fight this ‘war’ of tech standards (i.e. China Standards 2035, a blueprint for cyber and data governance).

    The same argument is true for supply-chains which are now at the center of a tug-of-war that has major implications for geopolitics. Dis-entangling the rhizome of supply chains built-up through decades of globalism is difficult and onerous: The multinational companies which sell into the Chinese market may have little choice but to try to stay put. However, if de-coupling as a key U.S. foreign policy persists, then products ranging from computer servers, to Apple iPhones, could end up having two separate supply chains — one for the Chinese market, and one for much of the rest of the world. It will be more costly and less efficient, but this is the way that politics is pushing (at least for now).

    So where are we in this de-coupling struggle? Until now, it is a mixed bag. The U.S. has focused on de-coupling in certain leading-edge technologies (that also have dual civil-defence potential). But Washington and Beijing have stayed clear of financial de-coupling (so far) – as Wall Street does not want to lose a $5 trillion two-way financial trade.

    Some years back, when travelling across Europe, passengers commonly had to exit one train on reaching the frontier, and cross to a different train and carriages, beyond the border. This still exists. The railways were operating on entirely different gauge rail tracks. We have not reached that point in Tech. But the future is likely to become more complex – and costly – should Europe, the U.S. and China adopt different protocols for 5G. The latter, with its low latency, enables diverse strands of data to be mined, and modelled, in near real time (a game-changing factor for missile targeting and aerial defense systems, where every millisecond counts).

    It is possible then, that 5G may be divided into two competing stacks to reflect different U.S. and Chinese standards? For outsiders to compete, they may find it necessary to manufacture separate equipment for these different protocols. Some measure of division is also possible in semiconductors, artificial intelligence and other areas where U.S.-China rivalry is intense. For now, Russia and Iranian infrastructure is fully compatible with China. The West is not yet a ‘separate gauge’; it can still work with Iran and Russia, but dual-functionality in the tech sphere nevertheless will cost — and probably require careful legal workabouts, to avoid legal or regulatory sanction.

    And just to be clear, the battle for influence over Tech standards is separate to the ‘Regulatory War’ in which the Data, AI and the Regulatory eco-spheres are being ‘Balkanised’. Europe is almost non-existent in the Cloud analytics sphere, but is trying to catch-up quick. It must. China is so far ahead that Europe has little choice but to bulldoze (strong arm) its way into this space i.e. by ‘regulating’ U.S. Cloud business (already under U.S. anti-trust threat), toward Europe.

    Cloud companies provide their clients with data storage, but also with sophisticated tools for analyzing, modelling, and understanding the vast data sets found in the cloud. The sheer size of modern data sets has sparked an explosion of new techniques for extracting information from them. These new techniques are made possible by ongoing advances in computer processing power and speed, as well as by aggregating computer power to improve performance (known as High-Performance Computing, or HPC).

    Many of these techniques (‘data mining’, ‘machine learning’, or AI) refer to the process of extracting information from raw data. Machine learning refers to the use of specific algorithms to identify patterns in raw data and represent the data as a model. Such models can then be used to make inferences about new data sets or guide decision-making. The term ‘Internet of Things’ (IoT) usually refers to a network of connected computing and physical devices that can automatically generate and transmit data about physical systems. The ‘nervous system’ serving such ‘body messaging’ will be 5G.

    The EU is already regulating Big Data; it intends to regulate the U.S. Cloud platforms; and is looking at setting EU protocols for algorithms (to reflect EU social objectives and ‘liberal values’).

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    All those companies that are dependent on Cloud analytics and machine training, therefore, will be affected by this Regulatory fragmentation into distinct spheres. Companies, of course, need these capabilities to run robotics and complex mechanical systems effectively – and to reduce costs. Analytics has been responsible for huge productivity gains. Accenture estimate that analytics alone could generate as much as $425 billion in added-value, by 2025, for the oil and gas industry.

    It was the U.S. that triggered this round of de-coupling, but the consequence to that initial decision is that it has prompted China to respond with its own de-coupling from the U.S. at the leading-edge of Tech. China’s intent now is not simply to refine and improve on existing technology, but to leapfrog existing knowledge into a new tech realm (such as by discovering and using new materials that overcome present limits to microprocessor evolution).

    They may just succeed – over next the three years or so – given the huge resources China is diverting to this task (i.e. with microprocessors). This could alter the whole tech calculus – awarding China primacy over most key areas of cutting-edge technology. States will not easily be able ignore this fact – whether or not they profess to ‘like’ China, or not.

    Which brings us to the second ‘underside’ to this geopolitical struggle. So far, both the U.S. and China have kept finance largely separate to the main de-coupling. But a substantive change may be underway: The U.S. and several other states are toying with Central Bank digital currencies, and FinTech internet platforms are beginning to displace traditional banking institutions. Pepe Escobar notes:

    Donald Trump is mulling restrictions on Ant’s Alipay and other Chinese digital payment platforms like Tencent Holdings…and, as with Huawei, Trump’s team is alleging Ant’s digital payment platforms threaten U.S. national security. More likely is that Trump is concerned Ant threatens the global banking advantage the U.S. has long taken for granted.

    Team Trump is not alone. U.S. hedge fund manager Kyle Bass of Hayman Capital argues Ant and Tencent are “clear and present dangers to U.S. national security that now threaten us more than any other issue.”

    Bass estimates that the Chinese Communist Party is pushing its yuan digital payment system on an estimated 62% of the world’s population in ways that threaten Washington’s influence. What started as a mere online payment service has since veered sharply into a financial services juggernaut. It’s becoming a powerhouse in loans, insurance policies, mutual funds, travel booking and all the cross-platform synergies for sales and economies of scale.

    At the moment, well over 90% of Alipay users are using the app for more than just payments. This is “effectively creating a closed-loop ecosystem where there is no need for money to leave the wallet ecosystem,” says analyst Harshita Rawat of Bernstein Research.

    Rawat notes that Ant has “used its payment service as a user acquisition engine for building broader financial services features.” That includes finding ways to cross-pollinate Ant’s ambitions to be China’s financial services mall with Alibaba’s dominant online bazaar…

    Given that many Chinese already downloaded the Alipay app, CEO Eric Jing is angling to export its model overseas. It’s collaborating with nine start-ups around the region, including GCash in the Philippines and Paytm in India. Ant plans to use the proceeds from its share listing to accelerate the pivot overseas.

    The point here is two-fold: China is setting the scene to challenge a fiat dollar, at a sensitive moment of dollar weakness. And secondly, China is placing ‘facts on the ground’ — shaping standards from the bottom up, through widespread overseas adoption of its technology.

    Just as Alipay has made huge inroads across Asia, China’s ‘Smart Cities’ project diffuses Chinese standards, precisely because they incorporate so many technologies: Facial recognition systems, big data analysis, 5G telecoms and AI cameras. All represent technologies for which standards remain up for grabs. Thus ‘smart cities’, which automate multiple municipal functions, additionally helps China’s standards drive.

    According to research by RWR Advisory, a Washington-based consultancy, Chinese companies have done 116 deals to install ‘smart city’ and ‘safe city’ packages around the world since 2013, with 70 of these taking place in countries that also participate in the Belt and Road Initiative. The main difference between ‘smart’ and ‘safe’ city equipment is that the latter is intended primarily to survey and monitor the population, while the former is primarily aimed at automating municipal functions while also incorporating surveillance functions. Cities in western and southern Europe together have signed up to a total of 25 such ‘smart’ and ‘safe’ projects.

    Mark Warner, Democratic Vice-Chair of the U.S. Senate intelligence committee, sees the threat from China in stark terms: Beijing intends to control the next generation of digital infrastructure, he says, and, as it does so, to impose principles ‘that are antithetical to U.S. values’. “Over the last 10 to 15 years, [the U.S.] leadership role has eroded and our leverage to establish standards and protocols reflecting our values has diminished,” Warner laments: “As a result others, but mostly China, have stepped into the void to advance standards and values that advantage the Chinese Communist party”.

    All signs point to China wielding more influence over global technological standards. Yet equally certain is that the backlash from Washington is building. Should the U.S. become more confrontational, it could lead China to accelerate a move towards parallel alternatives. This could ultimately result in a bifurcated arena on industrial standards.

  • Fire Experts Say Western States Need To Clear Out Mismanaged Forests
    Fire Experts Say Western States Need To Clear Out Mismanaged Forests

    Tyler Durden

    Tue, 10/20/2020 – 23:45

    As the West Coast approaches the tail-end of what have been increasingly destructive fire seasons, experts say it’s time to “shift the focus back to managing healthy forests that can better withstand fire,” in what would be a sharp reversal from decades of federal, state and local agencies prioritizing fire suppression over prevention, according to NBC News.

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    “Fires have always been part of our ecosystem,” said Mike Rogers, a former Angeles National Forest supervisor and board member of the National Association of Forest Service Retirees. “Forest management is a lot like gardening. You have to keep the forest open and thin.”

    Federal forest management dates back to the 1870s, when Congress created an office within the U.S. Department of Agriculture tasked with assessing the quality and conditions of forests. In 1905, President Theodore Roosevelt oversaw the birth of the U.S. Forest Service, which manages 193 million acres of public land across the country.

    In California, forest management also falls under the purview of the state’s Department of Forestry and Fire Protection, known as Cal Fire. –NBC News

    CalFire has spent over $600 million on fire prevention efforts in in less than 10 years, and has ‘removed or felled nearly 2 million dead trees.’ The agency has made efforts to mitigate future fires – setting a goal to treat 500,000 acres of wildland per year using techniques that include slashing, burning, sawing or thinning of trees. Unfortunately, CalFire remains far from meeting their goal.

    “It’s an ongoing process,” said spokeswoman Christine McMorrow. “There is always going to be more work.”

    “Is it enough? Well, it’s enough for what we’re doing right now, but is that enough to get all the work that needs to be done in one year or five years or 10 years? It’s going to a take lot,” she added.

    Cal Fire is steadily receiving injections of money to do what it can to reduce wildfire risk, including better land management and training a new generation of foresters. In 2018, former Gov. Jerry Brown signed a bill that will allocate $1 billion over five years to Cal Fire to be used on fire prevention measures. But experts warn that more money is needed.

    Long before the country’s founding, Spanish explorers documented wildland fires in California. In 1542, conquistador Juan Rodríguez Cabrillo sailed along the coast and noticed smoke billowing up from what is now known as the Los Angeles Basin. He called it “la baya de los fumos,” or “the bay of smoke.”NBC News

    The history of fire suppression vs. forest management dates back to at least 1910, when “The Big Burn” destroyed 3 million acres across Idaho, Washington and Montana – killing 85 people in an event which would reshape fire policy in the United States for decades to come. 

    Now, the US Forest Service has ordered that all wildland fires are to be extinguished as soon as possible, emphasizing suppressing fires by the morning after they begin in what is known as the ‘10 a.m. policy.’

    “We have more large trees per acre than we’ve ever had because they have continued to grow, and underneath these large trees are young shrubs that fuel fires in the crown of the trees,” said Mike Rogers. “When a fire starts in there, it’s unstoppable.

    Read the rest of the report here.

  • Liberal Education And The Recovery Of Culture
    Liberal Education And The Recovery Of Culture

    Tyler Durden

    Tue, 10/20/2020 – 23:25

    Submitted by Roger Kimball of RealClearPolitics,

    Politics, as the late Andrew Breitbart once observed, is downstream from culture. In the United States, a primary engine of culture is the educational establishment. Since the late 1960s, it has been anything but an ivory tower, a quiet, semi-cloistered redoubt deliberately subsisting at one remove from partisan passions. On the contrary, the educational establishment—and this goes for primary and secondary education as well as for colleges—has incorporated those partisan passions as part of its raison d’être

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    The chief issue is this: should our institutions of higher education be devoted primarily to the education of citizens—or should they be laboratories for social and political experimentation? Traditionally, a liberal arts education involved both character formation and learning. The goal was to produce men and women who (as Allan Bloom put it) had reflected thoughtfully on the question “‘What is man?’ in relation to his highest aspirations as opposed to his low and common needs.” Since the 1960s, however, colleges and universities have more and more been home to what Lionel Trilling called the “adversary culture” of intellectuals. The goal was rejection, not reflection. 

    The key issue, I hasten to add, is not partisan politics per se but rather the subordinating of intellectual life to non-intellectual—that is, political—imperatives. “The greatest danger,” the philosopher Leszek Kolakowski wrote in “What Are Universities For?” “is the invasion of an intellectual fashion which wants to abolish cognitive criteria of knowledge and truth itself. . . . The humanities and social sciences have always succumbed to various fashions, and this seems inevitable. But this is probably the first time that we are dealing with a fashion, or rather fashions, according to which there are no generally valid intellectual criteria.” 

    Indeed, it is this failure—a failure to check the colonization of intellectual life by politics—that stands behind and fuels the degradation of liberal education. The issue is less about the presence of bad politics than about the absence of non-politics in the intellectual life of the university. 

    What has happened to the educational establishment cannot be understood apart from its cultural context—the “long march through the institutions” that the Italian Marxist Antonio Gramsci recommended and whose American lineaments I chronicled in my 2000 book, “The Long March: How the Cultural Revolution of the 1960s Changed America.” “The Age of Aquarius,” I wrote in the book’s introduction, “did not end when the last electric guitar was unplugged at Woodstock. It lives on in our values and habits, in our tastes, pleasures, and aspirations. It lives on especially in our educational and cultural institutions, and in the degraded pop culture that permeates our lives like a corrosive fog.”

    We have been seeing the results of this dissemination everywhere: in the media; in corporate boardrooms where resolutions deploring “systemic racism” are touted by quivering, virtue-signaling bureaucrats; throughout the federal government, where “workshops” on critical race theory catechize government workers about the evils of “whiteness” and glories of “trans” culture; and nightly on our city streets, where Antifa and the “trained Marxists” of Black Lives Matter rampage under the protection of the First Amendment while endeavoring to destroy the political culture that underwrites such protections. 

    The stakes are high. Just how high was articulated by the open letter “in defense of American institutions” and published in several internet venues. I was proud to be a signatory of this letter.  “Over the next several years,” it began, “the noble sentiments and ideas that gave birth to the United States will either be repudiated or reaffirmed. The fateful choice before us will result either in the death of a grand hope or a recommitment to an extraordinary political experiment whose full flowering we have yet to realize.” 

    The bottom line is this: Deep and lasting change in the university depends on deep and lasting change in the culture at large. Undertaking that task is a tall order. Criticism, satire, and ridicule all have an important role to play, but the point is that such criticism, to be successful, depends upon possessing an alternative vision of the good. Do we possess that alternative vision? I believe we do. 

    We all know, well enough, what a good liberal education looks like, just as we all know, well enough, what makes for a healthy society. It really isn’t that complicated. It doesn’t take a lot of money or sophistication. What it does require is candidness and courage, moral virtues in short supply wherever political correctness reigns triumphant.  

    A welcome example of such candidness and courage was President Trump’s announcement of a 1776 Commission that will seek to “clear away the twisted web of lies in our schools and classrooms” and “defend the legacy of America’s founding, the virtue of America’s heroes, and the nobility of the American character.” Also welcome were his recent executive orders combatting the “malign ideology” of critical race theory, which is “now migrating from the fringes of American society and threatens to infect core institutions of our country.”

    As the president acknowledged, the choice facing us today is not between a “repressive” or “systematically racist” American culture and a multicultural paradise. It is between culture and barbarism. Civilization is not a gift; it is an achievement—a fragile one that needs constantly to be shored up and defended from besiegers inside and out. These are facts that do not easily penetrate the cozy and coddled purlieus of the academy any more than they penetrate the self-satisfied barricades of woke corporate culture. But they are part of the permanent challenge that any civilization must face. We ignore them at our peril.

  • South Korea To Acquire 'Suicide Drones' As Tensions In East Asia Surge 
    South Korea To Acquire ‘Suicide Drones’ As Tensions In East Asia Surge 

    Tyler Durden

    Tue, 10/20/2020 – 23:05

    The Second Cold War between the US and China has significant consequences across East Asia, especially on the Korean Peninsula. As a result of the escalating tensions, South Korea announced plans Monday to acquire advanced military hardware to better prepare for future conflict. 

    Yonhap News Agency, citing South Korea’s Defense Acquisition Program Administration (DAPA), said under the second round of the “rapid acquisition” project, it would procure 12 state-of-the-art weapons, worth $22.75 million, such as suicide drones and drones with guns. 

    “They include light-weight suicide UAVs, drones that fire guns at ground targets, advanced surveillance plus attack drones, multipurpose unmanned vehicles, intelligent anti-jamming censors and a smartphone-based combat command system,” according to DAPA.

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    Agency officials said they issued a tender notice Monday and will choose the defense companies within the next couple of months to complete the orders; deliveries are expected sometime in the first half of 2021. 

    DAPA launched the rapid acquisition project in May to better prepare its forces for conflict as the modern battlefield continually changes with new technology.

    In the first round of the project, the arms procurement agency ordered four kinds of advanced military hardware: two surveillance drones, small unmanned aircraft and portable anti-drone guns.

    “We will continue to improve arms procurement procedures to cut red tape and boost efficiency,” DAPA chief Wang Jung-hong said.

    South Korea must continue procuring advanced weaponry because President Trump swung a wrecking ball into the “liberal international order” and has since triggered a Cold War between the US and China.  

    This also means that US allies, such as Japan and Taiwan, must also modernize their armies – as we’ve seen in recent years, Washington has placed stealth fighter jets in these countries. 

  • The Rise Of The Corporate Censors: How America Is Drifting Toward The Chinese Model Of Media
    The Rise Of The Corporate Censors: How America Is Drifting Toward The Chinese Model Of Media

    Tyler Durden

    Tue, 10/20/2020 – 22:45

    Authored by Jonathan Turley,

    Below is my column in The Hill newspaper on the censorship of the Hunter Biden controversy by Facebook and Twitter.  The response of the Biden campaign and figures like Rep. Adam Schiff has been to dismiss the story as the likely product of Russian intelligence. Notably however they do not address the underlying emails.

    As many of us have written, there is ample reason to suspect foreign intelligence and the FBI is reportedly investigating that possibility. However, that does not mean that the emails are not authentic. Hillary Clinton was hacked by Russia but the emails were still real. It is possible to investigate both those responsible for the laptop’s disclosure and what has been disclosed on the laptop. The censorship by these companies however has magnified concerns in the controversy, particularly with the disclosure of close connections between some company officials and the Biden campaign.

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    Chinese citizens watched President Xi Jinping deliver an important speech this week not far from Hong Kong. Well, not the whole speech: Xi apparently is ill, and every time he went into coughing spasms, China’s state media cut away so that he would be shown only in perfect health.

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    Xi’s coughs came to mind as Twitter and Facebook prevented Americans from being able to read the New York Post’s explosive allegations of influence-peddling by Hunter Biden through their sites. The articles cited material reportedly recovered from a laptop; it purportedly showed requests for Hunter Biden to use his influence on his father, then-Vice President Joe Biden, as well as embarrassing photos of Hunter Biden.

    Many of us have questioned the sketchy details of how the laptop reportedly was left by Hunter Biden with a nearly blind computer repairman and then revealed just weeks before the presidential election. There are ample reasons to question whether this material was the product of a foreign intelligence operation, which the FBI apparently is investigating.

    Yet the funny thing about kompromat – a Russian term for compromising information — is that often it is true. Indeed, it is most damaging and most useful when it is true; otherwise, you deny the allegations and expose the lie. Hunter Biden has yet to deny these were his laptop, his emails, his images. If thousands of emails and images were fabricated, then serious crimes were committed. But if the emails and images are genuine, then the Bidens appear to have lied for years as a raw influence-peddling scheme worth millions stretched from China to Ukraine to Russia. Moreover, these countries likely have had the compromising information all along while the Bidens — and the media — were denying reports of illicit activities.

    Either way, this was major news.

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    The response of Twitter and Facebook, however, was to shut it all down. Major media companies also imposed a virtual blackout on the allegations. It didn’t matter that thousands of emails were available for review or that the Bidens did not directly address the material. It was all declared to be fake news.

    The tech companies’ actions are an outrageous example of open censorship and bias. It shows how private companies effectively can become state media working for one party. This, of course, was more serious than deleting coughs, but it was based on the same excuse of “protecting” the public from distractions or distortions. Indeed, it was the realization of political and academic calls that have been building for years.

    Democratic leaders from Hillary Clinton to Rep. Adam Schiff (D-Calif.) have long demanded such private censorship from social media companies, despite objections from some of us in the free speech community; Joe Biden himself demanded that those companies remove President Trump’s statements about voting fraud as fake news. Academics have lined up to support calls for censorship, too. Recently, Harvard law professor Jack Goldsmith and University of Arizona law professor Andrew Keane Woods called for Chinese-style internet censorship and declared that “in the great debate of the past two decades about freedom versus control of the network, China was largely right and the United States was largely wrong.”

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    It turns out traditional notions of journalism and a free press are outdated, too, and China again appears to be the model for the future. Recently, Stanford communications Professor Emeritus Ted Glasser publicly denounced the notion of objectivity in journalism as too constraining for reporters seeking “social justice.” In an interview with The Stanford Daily, Glasser insisted that journalism needed to “free itself from this notion of objectivity to develop a sense of social justice.” He said reporters must embrace the role of “activists” and that it is “hard to do that under the constraints of objectivity.” Problem solved.

    Such views make Twitter and Facebook’s censorship of the Post not simply justified but commendable — regardless of whether the alleged Biden material proves to be authentic. As Twitter buckled under criticism of its actions, it shifted its rationale from combating fake news to barring hacked or stolen information. (Putting aside that the information allegedly came from a laptop, not hacking, this rule would block the public from reviewing any story based on, say, whistleblowers revealing nonpublic information, from the Pentagon Papers to Watergate. Moreover, Twitter seemingly had no qualms about publishing thousands of stories based on the same type of information about the Trump family or campaign.) Twitter now says it will allow hacked information if not posted by the hacker.

    Social media companies have long enjoyed protection, under Section 230 of the federal Communications Decency Act, from liability over what users post or share. The reason is that those companies are viewed as neutral platforms, a means for people to sign up to read the views or thoughts of other people. Under Section 230, a company such as Twitter was treated as merely providing the means, not the content. Yet for Twitter to tag tweets with warnings or block tweets altogether is akin to the telephone company cutting into a line to say it doesn’t like what two callers are discussing.

    Facebook and Twitter have now made the case against themselves for stripping social media companies of immunity. That would be a huge loss not only to these companies but to free speech as well. We would lose the greatest single advance in free speech via an unregulated internet.

    At the same time, we are seeing a rejection of journalistic objectivity in favor of activism. The New York Times apologized for publishing a column by a conservative U.S. senator on using national guardsmen to quell rioting — yet it later published a column by a Chinese official called “Beijing’s enforcer” who is crushing protests in Hong Kong. The media spent years publishing every wacky theory of alleged Trump-Russia collusion; thousands of articles detailed allegations from the Steele dossier, which has been not only discredited but also shown to be based on material from a known Russian agent.

    When the Steele dossier was revealed, many of us agreed on the need to investigate because, even if it was the work of foreign intelligence, the underlying kompromat could be true. Today, in contrast, the media is not only dismissing the need to investigate the Biden emails, but ABC News’s George Stephanopoulos didn’t ask Biden about the allegations during a two-hour town hall event on Thursday.

    This leaves us with a Zen-like question: If social media giants prevent the sharing of a scandal and the media refuses to cover it, did a scandal ever occur? After all, an allegation is a scandal only if it is damaging. No coverage, no damage, no scandal. Just deleted coughs lost in the ether of a controlled media and internet.

  • Showtime At Apollo: Leon Black's Ties With Epstein Reviewed By Private Equity Giant
    Showtime At Apollo: Leon Black’s Ties With Epstein Reviewed By Private Equity Giant

    Tyler Durden

    Tue, 10/20/2020 – 22:25

    One week ago, we asked a simple question in response to a NYT report that billionaire Leon Black, one of the brightest financial minds of this generation who is surrounded 24/7 by experts and specialists – and more importantly, his own paid employees – in absolutely every area of finance, paid “suicided” child molester and longtime pal Jeffrey Epstein $50 million after the deceased financier got out of prison for pedophilia.

    Why?

    Because the provided answer was ridiculous: according to Bloomberg, “For decades billionaire Leon Black turned to Jeffrey Epstein for financial advice.” But why would a billionaire financier need Epstein, who was through and through clueless about any sophisticated areas of finance, need to pay Epstein tens of millions for advice?

    Neither did the answer given by Black’s spokeswoman make any sense: Black received “personal trusts and estates planning advice as well as family office philanthropy and investment services” from Epstein between 2012 and 2017. Wait… Black couldn’t get all of that for free from the the world’s biggest private equity company which just so happens he co-founded? Instead, he just had to pay Jeffrey $50 million.

    “It is true that I paid Mr Epstein millions of dollars annually for his work,” said Black in a letter responding to the Times report. “It also is worth noting that all of Mr Epstein’s advice was vetted by leading auditors, law firms and other professional advisors” Black added in the process throwing virtually everyone under the bus, and adding that he had ‘once’ picnicked on Epstein’s private island with his family, and that he visited the dead pedophile ‘from time to time’ at his Manhattan townhouse.

    Black’s spokeswoman claims the two stopped communicating after a “fee dispute” in 2018, and that Black “deeply regrets having any involvement with him.”

    “There has never been an allegation by anyone, including The New York Times, that Mr Black engaged in any wrongdoing or inappropriate conduct,” she added.

    That may change very soon, though, because in what may soon become the first major domino to tumble as a result of last year’s Epstein suicide, the WSJ reported that a group of Apollo Global Management independent board members will review Chief Executive Leon Black’s relationship with disgraced financier Jeffrey Epstein.

    At a regularly scheduled meeting Tuesday morning, Mr. Black requested that the board’s conflict-committee members, which include Michael E. Ducey, A.B. Krongard and Pauline Richards, hire a law firm to examine his business dealings with Mr. Epstein, the people said. The committee interviewed a number of firms and selected Dechert LLP Tuesday afternoon.

    Black’s motive is clear: an publicity “effort” to put to rest renewed speculation into the nature of his ties to Epstein. And while that may work, a truly objective committee will ask numerous questions, starting with the one we suggested above: why did Black pay Epstein $50 million?  And not only that, but why the various layers of cover – the NYT cited an internal report by Deutsche Bank that showed payments from entities controlled by the private-equity magnate to ones controlled by Mr. Epstein.

    We doubt there is a simple answer.

    Although the answer may be forthcoming once we get discovery from the pending discovery into what really happened: Black is among those who have received subpoenas in a civil investigation in the U.S. Virgin Islands into Mr. Epstein’s businesses. He has said he intends to cooperate with the inquiry.

    And while we are confident the board members will be sympathetic toward Black – the same way that Twitter and Facebook are sympathetic to Hunter Biden – they may want to be careful: private-equity funds are structured in such a way that investors can only vote to pull their money under very specific circumstances, such as if a manager is convicted of a crime. But, as the WSJ notes, some of Apollo’s public-pension-fund investors have expressed concern that the issue may continue to produce negative headlines, the people familiar with the matter said.

    In an Oct. 12 letter to Apollo’s investors that was reviewed by The Wall Street Journal, Mr. Black said Mr. Epstein served as an adviser to him between 2012 and 2017 and that he was “completely unaware” of Mr. Epstein’s “reprehensible” conduct.

    “I deeply regret having had any involvement with him,” Black wrote. This, we do not doubt at all.

  • Biden, Corruption, And Ukraine's Election Interference Against Trump
    Biden, Corruption, And Ukraine’s Election Interference Against Trump

    Tyler Durden

    Tue, 10/20/2020 – 22:05

    Authored by Thomas Farnan via TheNationalPulse.com,

    In 2014, the Obama administration assigned Joe Biden to oversee Ukraine policy.  From that position he likely received a portion of the payola his son Hunter extracted from Burisma, one of the country’s largest energy companies, for firing an unfriendly prosecutor.

    The political operation, though, was bigger than just a few million dollars funneled to the Biden family. In 2016 Ukraine interfered against Donald Trump in the American presidential election. It did so by launching a false Russian flag operation against the Trump campaign through Fusion GPS, CrowdStrike, and Alexandra Chalupa.

    Ukraine later admitted the interference and apologized for it.

    After a telephone conversation in which President Trump thanked Ukraine’s leader for investigating this corruption, the head of Obama’s Ukraine policy at the NSC (who had overseen the Chalupa part of the political dirty trick) filed a whistleblower complaint, leading to Trump’s impeachment.

    The following is an excerpt from the short ebook, The Russia Lie, that details Ukraine’s election interference against Trump at the behest of the Obama administration.

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    * * *

    Smack dab in the middle of this soupy mix of money, lobbying, and insanity is the country of Ukraine, which sits geographically between Europe and Russia. 

    The cold-war view was that without Ukraine Russia is an Eastern power, but with Ukraine it challenges Western interests. 

    Since the 1990s, Ukraine has bounced back and forth between alignment with Russia and the West. Like a child in a bitter divorce, it has become a proxy in the battle between two mismatched parents: the parochial, nationalistic, religious preferences of Putin’s Russia; and the globalism of the EU. 

    In 2010, pro-Russian candidate Viktor Yanukovych was elected as president of Ukraine, in part due to the services of an American political consultant, Paul Manafort.  Politico has called Manafort’s relationship to Yanukovych “a political love connection.” 

    Powerful forces in the West suspected that Vladimir Putin was putting anti-EU ideas into peoples’ heads – with Manafort’s help. 

    Therein lies the chewy center of The Russia Lie: Western-intellectuals have a condescending view of the hoi polloi  who vote against their globalist projects, regarding the huddled masses as easily manipulated, Pygmalion-like, by smarter people. They assume Putin is playing Professor Henry Higgins to the flower girls who reject the EU, because that’s how they see the world.

    In 2014, Yanukovych would make the mistake of not signing an association agreement with the European Union. John McCain flew to Kiev to rally support for the EU. McCain reported to the Atlantic Council about his trip. There followed a successful coup d’état, that replaced the pro-Russia government with a Western puppet. 

    President Obama later told CNN’s Fareed Zakaria that he had “brokered a deal to transition power in Ukraine.” The word “brokered” suggests that the Obama administration successfully replaced a government half a world away at the behest of Washington’s smart people. 

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    Under Joe Biden’s oversight, the Obama administration started to work with Ukraine to create disinformation falsely linking Trump to Russia.

    Alexandra Chalupa, a Ukrainian-American operative, began doing opposition research for the DNC about Trump and Russia in late 2015. The Ukrainian embassy representing the government whose rule President Obama had “brokered” worked closely with Chalupa. 

    Chalupa’s efforts were so successful in creating a phony Russian cloud around Trump that on October 24, 2016, reporter Michael Isikoff portrayed her work as pivotal in a premature victory lap for the Clinton campaign at Yahoo News.

    On January 16, 2016, The Atlantic Council issued a dispatch under the banner headline: “US Intelligence Agencies to Investigate Russia’s Infiltration of European Political Parties.” The lede was concise: “American intelligence agencies are to conduct a major investigation into how the Kremlin is infiltrating political parties in Europe, it can be revealed.” 

    There followed a series of pull quotes from an article that appeared in the The Telegraph, including that “James Clapper, the US Director of National Intelligence” was investigating whether right wing political movements in Europe were sourced in “Russian meddling.” 

    The dispatch spoke of “A dossier” that revealed “Russian influence operations” in Europe. This was the first time trippy words like “Russian meddling” and “dossier” would appear together in the American lexicon. 

    One of the international men of mystery spying on European political parties was none other than the ubiquitous Christopher Steele. A March 5, 2018 piece in The New Yorker about Steele describes the connection:

    Even before Steele became involved in the U.S. Presidential campaign, he was convinced that the Kremlin was interfering in Western elections. In April of 2016, not long before he took on the Fusion assignment, he finished a secret investigation, which he called Project Charlemagne, for a private client. It involved a survey of Russian interference in the politics of four members of the European Union—France, Italy, the United Kingdom, and Germany—along with Turkey, a candidate for membership. The report chronicles persistent, aggressive political interference by the Kremlin: social-media warfare aimed at inflaming fear and prejudice, and “opaque financial support” given to favored politicians in the form of bank loans, gifts, and other kinds of support. The report…. suggests that Russian aid was likely given to lesser-known right-wing nationalists in the United Kingdom and elsewhere. The Kremlin’s long-term aim, the report concludes, was to boost extremist groups and politicians at the expense of Europe’s liberal democracies. The more immediate goal was to “destroy” the E.U., in order to end the punishing economic sanctions that the E.U. and the U.S. had imposed on Russia after its 2014 political and military interference in Ukraine.

    At roughly the same time Steele worked on Project Charlemagne, he hired Fusion GPS to do research on Paul Manafort. Glenn Simpson detailed this in his book: “Weeks before Trump tapped Manafort to run his campaign, Christopher Steele had hired Fusion for help investigating Manafort.” 

    Steele was investigating Putin’s influence in European politics. Manafort had been helpful in electing the pro-Putin candidate in Ukraine, and he started to work for Trump. Steele hired Fusion GPS to investigate Manafort. Then Fusion GPS hired Steele to help them. Cozy, huh? 

    With the Atlantic Council in 2016, all roads led to Ukraine. The Atlantic Council’s list of significant contributors includes Ukrainian billionaire Victor Pinchuk. 

    The Ukrainian energy company that was paying millions to an entity that was funneling large amounts to Hunter Biden months after he was discharged from the US Navy for drug use, Burisma, also appears prominently on the Atlantic Council’s donor list. 

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    NY POST STORIES HAVE RECENTLY SHED MORE LIKE ON BIDEN AND UKRAINE

    Arseniy Yatsenyuk, the Western puppet installed in Ukraine, visited the Atlantic Council’s Washington offices to make a speech weeks after the coup. 

    Pinchuk was also a big donor (between $10 million and $20 million) to the Clinton Foundation. Back in ’15, the Wall Street Journal published an investigative piece, “Clinton Charity Tapped Foreign Friends.” The piece was about how Ukraine was attempting to influence Clinton by making huge donations through Pinchuk. Foreign interference, anyone?

    In a piece first published on January 11, 2017, headlined “Ukrainian Efforts to Sabotage Trump Backfire,” Politico reported that Ukraine tried to help Hillary Clinton in the 2016 presidential election: “The Ukrainian efforts had an impact in the race, helping to force Manafort’s resignation and advancing the narrative that Trump’s campaign was deeply connected to Ukraine’s foe to the east, Russia.” 

    Ukraine has apologized and admitted its interference

    In the end, Trump was falsely linked to Russia by three distinct items of DNC opposition research, all connected to the Western puppet government in Ukraine: (1) dirt on Paul Manafort; (2) the Steele dossier; and (3) the supposed hack of the DNC computers. 

    In emails that Fusion GPS’s Nellie Ohr forwarded to her husband Bruce Ohr, Ukrainian officials informed the FBI of the “black ledger” registering off-the-book payments to Manafort. It turned out to be a complete fabrication, but it did serve the purpose of disrupting the Trump campaign within weeks of the election, causing the campaign chairman to resign. 

    It is plausible to conclude the Steele dossier, like Nellie Ohr’s report about Manafort, was based on disinformation provided by Ukrainians that was passed to Steele by his Fusion GPS researchers. The only source Nellie Ohr has identified in testimony  is Ukrainian. An FBI spreadsheet has confirmed that the “Trump orgy” story was sourced to Alexandra Chalupa’s sister.

    President Trump would eventually mention “CrowdStrike” (a company connected to Ukraine) and the number they did on the DNC servers to the next President of Ukraine, a comedian who was elected by Ukrainians in 2019 partly as a protest to Western meddling in their country. 

    Trump was impeached for discussing the Obama administration’s corruption in Ukraine based on a “whistleblower complaint” from a bureaucrat who ran the Ukraine desk at the NSC and, as reported by Paul Sperry, “worked on Ukrainian policy issues for Biden in 2015 and 2016, when the vice president was President Obama’s ‘point man’ for Ukraine.” 

    A less biased media would have identified the impeachment for what it was: A brazen attempt to bury Joe Biden’s Ukraine corruption. 

    In the final analysis, the 2016 election was not influenced by Russian disinformation no matter how the FBI continues to cover for the plotters by shrouding embarrassing revelations with phony Russian intrigue.  

    No, it was Ukrainian disinformation (as Politico reported in 2017 and Ukraine has admitted) conducted under the tutelage of the Obama administration and its overseer for the country, Joe Biden.

    *  *  *

    Read the rest of the story in the short ebook, The Russia Lie, available for purchase here for $5.

  • Watch: Atlanta Police Use Drone To Arrest Murder Suspect
    Watch: Atlanta Police Use Drone To Arrest Murder Suspect

    Tyler Durden

    Tue, 10/20/2020 – 21:45

    Detectives with the Atlanta Police Department’s (APD) homicide unit used a drone to arrest a man suspected in the shooting death of Thomas Jefferson Byrd, an actor who appeared in several flicks directed by Spike Lee. The video of the incident, filmed from the drone’s point of view, is dystopic and outlines law enforcement’s increasing use of drones. 

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    APD published the dramatic video footage on Facebook on Friday (Oct. 16). The law enforcement’s Facebook page wrote that homicide detectives used “Crime Stoppers tips and drone technology” to arrest Byrd.” 

    Homicide detectives, following up on evidence and tips from citizens, identified a suspect in the shooting death of Thomas Jefferson Byrd, who was killed on Oct. 3.

    On Oct. 14, 2020, warrants for the arrest of 30-year-old Antonio Demetrice Rhynes of Atlanta for Felony Murder were issued and investigators from the APD Fugitive Unit began working to arrest Rhynes. In the early morning of Friday, Oct. 16, 2020, the Fugitive Unit, in coordination with APD SWAT Officers, arrested Rhynes at Royal Oaks Apartments 3540 North Camp Creek Parkway. The suspect was taken to the Fulton County Jail. -Facebook 

    Here’s the video of the incident, showing the drone entering the suspect’s apartment after the entrance door appeared to be forcibly opened. About 30 seconds after the drone surveils the apartment’s common area and kitchen, Byrd appears from a back bedroom with his hands in the air. 

    “The Atlanta Police Department is proud of the diligent efforts of the Homicide Unit in identifying the suspect in this case and for the skilled and professional work done by the Fugitive and SWAT Units to take Rhynes into custody without incident,” APD continued to say in the Facebook post. “This arrest reflects highly on the men and women of the Atlanta Police Department and represents the highest standards of policing.”

    Spike Lee recently announced the death of Byrd, writing on his Instagram:

    “I’m So Sad To Announce The Tragic Murder Of Our Beloved Brother Thomas Jefferson Byrd Last Night In Atlanta, Georgia … May We All Wish Condolences And Blessings To His Family. Rest In Peace Brother Byrd.”

    While APD’s drone appears to be for surveillance purposes only, it’s only a matter of time before drones like these become weaponized.  

  • IMF Promotes A New 'Bretton Woods Moment' With Gender Equality
    IMF Promotes A New ‘Bretton Woods Moment’ With Gender Equality

    Tyler Durden

    Tue, 10/20/2020 – 21:25

    Authored by Mike Shedlock via MishTalk,

    The economic illiterates at the IMF are back at with another nonsensical idea…

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    A New Bretton Woods Moment

    The IMF has a new goal: a ‘Sisterhood and Brotherhood of Humanity’ to save the world.

    At the conclusion of the conference John Maynard Keynes captured the significance of international cooperation as hope for the world. “If we can continue…The brotherhood of man will have become more than a phrase”, he said.

    The work of the IMF is testament to the values of cooperation and solidarity on which a sisterhood and brotherhood of humanity is built. 

    Key Ideas of IMF Managing Director

    1. Today we face a new Bretton Woods “moment. ”We should move towards greater debt transparency and enhanced creditor coordination.

    2. And policies must be for people —my second imperative.

    3. Rising inequality and rapid technological change demand strong education and training systems—to increase opportunity and reduce disparities.

    4. Accelerating gender equality can be a global game-changer. For the most unequal countries, closing the gender gap could increase GDP by an average of 35 percent.

    5. We can no longer afford to ignore climate change—my third imperative.

    6. Our research shows that, with the right mix of green investment and higher carbon prices, we can steer toward zero emissions by 2050 and help create millions of new jobs.

    Alternate Idea

    The current strategies have done nothing but promote wage and income inequality. 

    The middle class is shrinking and housing is less and less affordable despite interest rates manipulated lower.

    These trends accelerated with Nixon ended convertibility of the dollar. 

    We do not need another “Bretton Woods”. Nor do we need a useless “I favor mom, apple pie, global peace, and sisterhood equality” speech.

    We need sound monetary ideas, free trade, the end of fiat currencies, and an end fraudulent fractional reserve lending.

  • Rudy Giuliani Turns Over Alleged Photos Of Underage Girls From Hunter's Hard Drive To Delaware Police
    Rudy Giuliani Turns Over Alleged Photos Of Underage Girls From Hunter’s Hard Drive To Delaware Police

    Tyler Durden

    Tue, 10/20/2020 – 21:10

    Things just took a very dark turn in the Hunter Biden laptop scandal.

    While the alleged crack, cronyism, corruption was enough to spark the biggest media suppression in history, and no denials whatsoever from the Biden camp, the bombshell that Rudy Giuliani just dropped, if true, is egregious to say the least (not just with regard Hunter Biden but the law enforcement authorities who have allegedly had this information since before Trump’s impeachment but done nothing about it).

    In an interview this evening with Newsmax TV, former NYC Mayor and current attorney to President Donald Trump, Rudy Giuliani announces he has turned over Hunter Biden’s laptop hard-drive to Delaware State Police due to pictures of underage girls and inappropriate text messages.

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    In one of the texts, Hunter Biden allegedly says to his sister-in-law (also his lover) that he face-timed a 14-year-old girl while naked and doing crack – “she told my therapist that I was sexually inappropriate.” 

    Giuliani adds, “this would be with regard an unnamed 14 year old girl,” adding that “this is supported by numerous pictures of underage girls.”

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    Watch the full interview below (the above exchange begins around 5:20):

    Furthermore, JustTheNews’ John Solomon reports  that former New York Police Department commissioner Bernard Kerik joined him when he delivered photographs and text messages to the New Castle County Police Department.

    “I told them other details about what appears to be an inappropriate sexual relationship,” he said in an interview. “They told me it would be investigated.”

    Law enforcement officials in Delaware told Just the News that Giuliani’s concerns have been forwarded to the state Department of Justice.

    “The FBI has had this for a long time,” Giuliani said.

    “No indication they did anything about this, so I went to the local police and said, ‘What are you going to do about this?'”

    Perhaps the most damning statement from Giuliani, with regard the election, was the former mayor alleging that:

     “I will tell you the evidence I gave them states it was reported to Joe Biden. What did he do about it?”

    Before this is wholly dismissed as yet more Russian disinformation or ‘Giuliani’ lies, we remind readers that we previously reported that Hunter Biden’s alleged laptop contents included a curious piece of evidencea photograph of an FBI subpoena which bears the signature of the agency’s top child porn investigator, special agent Joshua Wilson.

    FBI agent Wilson’s identity was confirmed by both Western Journal and Business Insider, the latter of which compared his signature to a 2012 criminal complaint and concluded that it “clearly matches the unreversed signature on the subpoena published by the New York Post.”

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    As BI notes:

    It’s unclear whether the FBI employs more than one agent named Joshua Wilson. But the available evidence seems to show **the Joshua Wilson who signed the subpoena for Hunter Biden’s laptop, and the Joshua Wilson who investigates child pornography for the FBI, are the same person**. This raises the possibility, not explored by the Post, that the FBI issued the subpoena for reasons unrelated to Hunter Biden’s role in Ukraine and Burisma.

    So why is the FBI’s top child porn lawyer involved in the Hunter Biden laptop case? OANN‘s Chanel Rion says she’s seen the contents of the hard drive, which includes “Drugs, underage obsessions, power deals,which make “Anthony Weiner’s down under selfie addiction look normal.

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    All of which now makes some sense, given Giuliani’s alleged findings, and raises a stunning question: if there is/was incriminating child porn on Hunter’s computer, what has the FBI been doing about it?

  • San Fran's New Normal: Third Walgreens In A Year Is Closing Due To "Rampant Shoplifting"
    San Fran’s New Normal: Third Walgreens In A Year Is Closing Due To “Rampant Shoplifting”

    Tyler Durden

    Tue, 10/20/2020 – 21:05

    The effects of allowing chaos to prevail in liberal run cities across America might not be obvious to liberals now, but when their cities empty out completely, it’s going to become crystal clear.

    Such is the case in San Francisco, where the city’s new normal of shoplifting and chaos has driven another Walgreens pharmacy out of the city. 

    The move to close the Walgreens at Van Ness and Eddy came after “months of seeing its shelves repeatedly cleaned out by brazen shoplifters”, according to the SF Chronicle. The location served “many older people” who lived in the area. 

    One customer told the paper: “All of us knew it was coming. Whenever we go in there, they always have problems with shoplifters.”

    The same customer photographed someone in the store, days prior, “clearing a couple shelves and placing the goods into a backpack”. Because when there’s no police and politicians are afraid to enforce the law – why not?

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    The penalty for shoplifting is a “nonviolent misdemeanor” that carries a maximum sentence of 6 months. But in most cases, for simple shoplifting, the criminal is simply released with conditions.

    The customer, who lives a block away, said: “I feel sorry for the clerks, they are regularly being verbally assaulted. The clerks say there is nothing they can do. They say Walgreens’ policy is to not get involved. They don’t want anyone getting injured or getting sued, so the guys just keep coming in and taking whatever they want.”

  • Mark Zuckerberg Donates Hundreds Of Millions To Increase Voter Turnout In Democratic Strongholds
    Mark Zuckerberg Donates Hundreds Of Millions To Increase Voter Turnout In Democratic Strongholds

    Tyler Durden

    Tue, 10/20/2020 – 20:45

    While Facebook has come under fire recently for its algorithm ‘favoring conservatives‘ – which the company says is due to right-wing figures being ‘more engaging,’ founder Mark Zuckerberg has donated millions of dollars in nonprofit grant money to “quadruple the number of voting places and massively grow the number of ballots cast in the Democratic stronghold of Philadelphia,” according to Just the News‘ John Solomon.

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    The donations were revealed in documents produced by the city under a federal court order amid a lawsuit brought by the conservative Thomas More Society. According to the documents, city election officials filed an August grant request to the Zuckerberg-funded Center for Tech and Civic Life (CTCL) in exchange for opening 800 polling locations which could add as many as 800,000 ballots cast in the general election.

    The number of promised polling places is more than four times the 190 polling places opened during the city’s pandemic-affected primary earlier this year, and the promised turnout is estimated to be as many as 120,000 voters larger than the 2016 presidential election, which drew about 680,000 voters. About 80% of the vote went to Democrats in 2016 in the city. –Just the News

    “The Office of the City Commissioners understands CTCL’s interest in maximizing the number of polling locations and will work to identify over 800 locations,” reads the city’s application seeking $10 million.

    Notably, Zuckerberg donated $250 million to CTCL to help local governments cope with the logistics surrounding the November election during the pandemic – and has added another $100 million in recent days.

    Thomas More Society lead counsel Phill Kline has raised the question of election interference – arguing that the grant money is wrongly privatizing a civic election function using grants that are targeting mostly Democratic strongholds.

    Kline told Just the News that just $289,000 out of $63 million included in CTCL’s top 20 grants have gone to a county Trump won in 2016.

    A federal judge in Pennsylvania recently ordered Philadelphia officials to produce records on how it applied for and won its $10 million grant, and the first records produced indicate the city is using the Zuckerberg money to compensate poll workers with “hazard pay,” including election judges who decide ballot integrity issues.

    More than $5 million of the grant is allowing the city to buy equipment to process increased mail-in and absentee ballots due to COVID-19, while $3.6 million is being used to open extra “satellite election offices” for early voting and in-person voting on Election Day. –Just the News

    “A voter can go to any satellite office and register to vote, if needed, request a mail-in ballot in-person, receive it, vote, and return it all at the same location,” reads the grant application, which includes drop boxes for early voting because “installing at least 15 secure, 24-hour drop boxes at each early vote location will help ensure that voters have some opportunity to return their ballots if it may be too late to send via” mail.

    Read the rest of the report here.

  • 'I Refuse To Work For This Socialist City Council': Seattle Cops Go Scorched Earth In Exit Interviews
    ‘I Refuse To Work For This Socialist City Council’: Seattle Cops Go Scorched Earth In Exit Interviews

    Tyler Durden

    Tue, 10/20/2020 – 20:25

    Seattle Police officers leaving the department after a summer of chaos are lashing out at city leadership in their exit interviews, according to KOMO  news.

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    I refuse to work for this socialist city council and their political agenda. This agenda sacrifices the health and well-being of the officers and ultimately will destroy the fabric of this once fine city,” said one retiring patrol sergeant who had been with the force for over 20 years.

    Another officer whose job is ‘up in the air’ said “The council wanting to defund us and gaining ground doing it. Rioters not being charged even when they assault officers.

    Another patrol officer from the East Precinct who was resigning after 6-10 years of service offered this explanation for leaving the department: “Current hostile work environment. In a precinct that is under civil unrest by a small group that is constantly committing multiple felonies and attempting to murder peace officers.”

    When followed up with the question: “What did you enjoy least about working at SPD?”

    The officer said, “I enjoyed almost every aspect of working with Seattle PD itself. The one thing that I enjoyed the least was the handling of the last three months of riots.” –KOMO  news

    “It’s ridiculous” said Crimestoppers Director of Law Enforcement, Jim Fuda, who works with SPD. “Just when you think it can’t get more inane, it does.”

    When outgoing officers were asked “Would you like to work for SPD again in the future?” some said they would, but only if things change “drastically.”

    Another officer said “I highly doubt it. You could pay me twice what you’re paying me now and I would not work for Seattle under this current political mayhem, Marxist collaborations and lack of government and police leadership.”

    “It’s an absolute joke and a travesty for the rest of the citizens here in this city, this once beautiful city,” according to Fuda. “Our police department is there to protect all of us and because of the cutbacks and the retirements, who’s going to protect our public safety?”

    In July we reported on a mass exodus of police officers from the Seattle PD.

    Seattle Police Officer’s Guild VP Rich O’Neill told Q13 FOX that local officials “are allowing certain crimes to go on without accountability.”

    “Worker bees on the street, they don’t feel appreciated. I’ve never seen anything like this in my life,” another source within the Seattle PD told Q13 Fox.

    And in August, Seattle Police Chief Carmen Best announced her resignation after the City Council crippled her ability to respond to rioters by banning tear gas, pepper spray and flash bangs. She was also excluded from meetings regarding budget cuts.

  • Not All Anarchy Is Created Equal…
    Not All Anarchy Is Created Equal…

    Tyler Durden

    Tue, 10/20/2020 – 20:05

    Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

    About Two Years…

    There’s an old joke that runs through hard core libertarian circles that goes something like this.

    An overly earnest newbie at a Libertarian Party meeting one night during a lull in a heated discussion of comma placement in a new rule change proposal asks, “What’s the difference between an anarchist and a minarchist?”

    The grizzled party chair looks up from his copy of Rothbard’s The Ethics of Liberty and replies, “About two years.”

    And I can tell you that that joke, like all good jokes has a nugget of deep truth in it. Embracing Minarchism is the toe-dip into the Non-Aggression Principle (NAP). It’s your step tentative step into the scarier world of imagining a world without a state.

    And it’s comforting. But it is also rife with contradictions. Those contradictions weigh on a person who is trying to live up to the ideal of the NAP.

    If you are truly on an honest journey with yourself to find the right path for your own personal behavior, then rigorously applying the NAP to all facets of your life where you can leads you to shedding the precepts of the necessity of the coercive state to shape and hold society together.

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    Anarchy in the You ‘Kay?

    Because you begin to see the break points, the fault lines of our society in NAP terms. For me, I quickly no longer gave credence to the idea that in order for my individual rights to express themselves I have to submit to a human authority with a granted monopoly power on the use of aggressive force, which the NAP itself stands in opposition to.

    At the core of all collectivist thinking is this basic tautology that your rights stem from the negotiation of what others define them as. Only by submitting to a higher human authority over you can you have a hope of retaining any of them, so you need to negotiate them down from the ideal.

    Sound complicated? That’s because it is and it’s also insane.

    A far simpler interpretation is to state. I have a right to life. I have a claim of ownership of myself. Any abrogation of that claim of ownership and right to it by an aggressor is wrong.

    Clear, concise, powerful.

    Once you come to that conclusion and are willing to apply it consistently then you can become comfortable with freeing your mind of the need for the state.

    But it also comes with responsibility. How do you defend those rights? Will you defend every assault on them no matter how minor?

    But here’s better questions, ones Marxist will always throw at you to trip you up…

    If you don’t defend yourself against a minor theft, say a pen or a coffee mug, was your right to property taken from you? Do you still have it in practical terms if you can’t defend against it?

    The answers are, in order, No and Yes. Just because the property was taken, you always reserve the right to express the right to defend it.

    That you choose not to is… wait for it…

    … also your right.

    “If you choose not to decide, you still have made a choice.”

    NEIL PEART – FREE WILL

    That leads to basic economic questions like: Should you always do so? When is forgiveness or acceptance better than retribution?

    Is it worth my precious time to chase down a guy who sold me a fake watch rather than chalk it up to experience and go about my other business?

    These are basic questions that form the filter on which to view the world around you and are the basic seeds of the growth from being mired in the inconsistencies of Minarchism and blossoming into the flower of Anarchism.

    The Right Stuff

    It leads you to conclusions about how to find ways to minimize, not eliminate, coercive forces on your life. That we live in a world circumscribed by tyrants constantly climbing over each other for the power to tyrannize is irrelevant. They may in real terms suppress the expression of your right to life but it most certainly doesn’t negate it.

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    You can always choose to say, “No.”

    Notice to this point I haven’t spent one word talking about implementation or politics. Because implementing these ideas isn’t a system to be imposed. That, itself, is a violation of the NAP, the idea of imposing Anarchy is a Collectivist perversion of the process.

    We’re seeing this in the hyper-violent rioting of Antifa and BLM wanting to impose their new system that they call anarchy at the point of a gun and an open-ended wrench.

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    Anarcho-Capitalism isn’t a political system, it is a behavioral model and a filter with which to view the world. It is a philosophy whose name implies an internal vision of the world we want rather than the world we have.

    And that filter is an incredibly powerful tool to analyze the world – especially economics and politics as both are the intersection of behavioral dissonance within a given population.

    (I talked with Jay Fratt, The Conservative Hippie, about Anarchism on his podcast over the weekend.)

    It is also a personal goal most people share — the best versions of ourselves possible. Where the differences take along the political landscape is the extent to which taking on the responsibility of fixing problems which are not ours leads to violence, i.e. the State and before that revolution.

    And that leads to the next two year process, the one of realizing that there is no Utopia where sin is expunged, theft conquered and sociopathy eliminated.

    There is only the minimization of these things because people are capable of tremendous generosity and tremendous violence. All of us. At all times.

    Sometimes simultaneously.

    And the real struggle is coming to terms with that fear. Fear drives Communists to overreach and hubris. AnCaps are driven by the acceptance of their limitations.

    Only a culture which reinforces this idea of personal responsibility for one’s actions rather than glorifying thieves as winners will put us back on the right path rather than the wrong one.

    Given where we are right now, that’s going to take a heckuva lot more than two years.

    *  *  *

    Join my Patreon to help guide you through the next two years. Install the Brave Browser to help build a better information space.

  • Feds Confirm Biden Emails Are "Authentic"; '50 Former Intel Officials' Wrong On Russian Disinfo
    Feds Confirm Biden Emails Are “Authentic”; ’50 Former Intel Officials’ Wrong On Russian Disinfo

    Tyler Durden

    Tue, 10/20/2020 – 20:00

    Update (1930ET): In yet another death blow to Adam Schiff and the ’50 former senior intelligence officers’ “Russia, Russia, Russia” claims, the FBI and DOJ have told a Fox News producer that they do not believe that Hunter Biden’s laptop and its contents are part of a Russian disinformation campaign, confirming that the ‘current’ intelligence community agrees with DNI Ratcliffe’s comments yesterday.

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    Additionally, a Federal Law Enforcement Official also confirmed to Fox News’ Martha MacCallum that the emails are “authentic”.

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    All of which leaves on big gaping unanswered question (that we all know the answer to)…

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    We look forward to the reporting from other mainstream media news agencies now that federal law enforcement has confirmed this is not a ‘hoax’ and we assume that the NYPost will once again be allowed to tweet since this is now as ‘factual’ as anything thrown at Trump for the last five years.

    *  *  *

    Hours before Politico reported the existence of a letter signed by ’50 former senior intelligence officials’ who say the Hunter Biden laptop scandal “has all the classic earmarks of a Russian information operation” – providing “no new evidence,” while they remain “deeply suspicious that the Russian government played a significant role in this case,” Tucker Carlson obliterated their (literal) conspiracy theory.

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    According to the Fox News host, he’s seen ‘nonpublic information that proves it was Hunter’s laptop,adding “No one but Hunter could’ve known about or replicated this information.”

    This is not a Russian hoax. We are not speculating.”

    Watch:

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    Meanwhile, the Delaware computer repair shop owner who believes Hunter dropped off three MacBook Pros for data recovery has a signed work order bearing Hunter’s signature. When compared to the signature on a document in his paternity suit, while one looks more formal than the other, they are a match.

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    Going back to the ’50 former senior intelligence officials’ and their latest Russia fixation, one has to wonder – do they think Putin was able to compromise Biden’s former business associate, Bevan Cooney, who gave investigative journalist Peter Schweizer his gmail password – revealing that Hunter and his partners were engaged in an influence-peddling operation for rich Chinese who wanted access to the Obama administration?

    Did Putin further hack Joe Biden in 2011 to make him take a meeting with a Chinese delegation with ties to the CCP – arranged by Hunter’s group, two years they secured a massive investment of Chinese money?

    The implications boggle the mind.

    Here’s the clarifying sentences from the ’50 former senior intelligence officials’ that exposes the utter farce of it all:

    While the letter’s signatories presented no new evidence, they said their national security experience had made them “deeply suspicious that the Russian government played a significant role in this case” and cited several elements of the story that suggested the Kremlin’s hand at work.

    “If we are right,” they added, “this is Russia trying to influence how Americans vote in this election, and we believe strongly that Americans need to be aware of this.”

    It would appear these former intel officials are not aware of the current intel official views, confirmed by DNI Ratcliffe yesterday that:

    “Hunter Biden’s laptop is not part of some Russian disinformation campaign.”

    And then there’s the fact that no one from the Biden campaign has yet to deny any of the ‘facts’ in the emails.

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    Perhaps the real question is; what does Chuck Schumer know about this?

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  • Trump Abruptly Ends Interview With Leslie Stahl: "You'll Have To Watch What We Do To 60 Minutes"
    Trump Abruptly Ends Interview With Leslie Stahl: “You’ll Have To Watch What We Do To 60 Minutes”

    Tyler Durden

    Tue, 10/20/2020 – 19:42

    President Trump abruptly ended an interview with CBS News’ “60 Minutes” Tuesday and did not return for an appearance he was supposed to tape with Vice President Mike Pence, various sources reported. 

    After camera crews set up at the White House on Monday, Trump sat down with host Lesley Stahl for about 45 minutes on Tuesday before he abruptly ended the interview and told the network he believed they had enough material to use.Shortly after the news broke, Donald Trump said he may release the CBS interview ahead of its airtime on Sunday, saying it would show bias by the reporter, Lesley Stahl and added that “everyone should compare this terrible Electoral Intrusion with the recent interviews of Sleepy Joe Biden!”

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    In an earlier tweet, Trump criticized Stahl for not wearing a face mask after their interview, hinting that the conversation was “contentious.”

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    Bloomberg quoted a person familiar with the matter who said that Stahl exceeded a time limit for the interview agreed to with the White House, angering Trump who refused to record a “walk-and-talk” segment with Stahl.

    This is not the first time Trump has had a contentious interview with Stahl: his previously interviewed her in 2018 in a wide-ranging conversation featuring testy back and forth moments.  During the interview Stahl attempted to change the subject after Trump made a comment about media dishonesty, but the president clearly wanted to make a point about the media criticizing his administration for its child separation policy that had also taken place under former President Obama.

    “I’m gonna change the subject again,” Stahl said.

    “Well, no, even the way you asked me a question, like, about separation,” Trump insisted. “When I say Obama did it, you don’t wanna talk about it.”

    After Stahl told the president they would run his answer, Trump continued: “When I say I did it, let’s make a big deal of it.”

    Lesley Stahl: I’m gonna run your answer, but you did it four times, so.

    President Trump: I’m just telling you that you treated me much differently on the subject.

    Lesley Stahl: I disagree, but I don’t wanna have that fight with you.

    President Trump: Hey, it’s okay–

    Lesley Stahl: All right, I’ll get in another fight with you–

    At which point the president ended the discussion: “Lesley, it’s okay. In the meantime, I’m president and you’re not.”

    Hinting at what’s coming next, during a rally in Erie, Pennsylvania late on Tuesday, Trump told the crowd “You’ll have to watch what we do to 60 Minutes.”

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  • What Happens If No One Wins?
    What Happens If No One Wins?

    Tyler Durden

    Tue, 10/20/2020 – 19:25

    Authored by John Yoo and Robert Delahunty via AmericanMind.org,

    Conservatives and liberals agree on few things, but one of them is that the country may well see an election crisis this year. All of the ingredients seem to be present: a closely and bitterly divided electorate; the threat of violence and disruption on Election Day or after; and the unusual circumstances of the Covid-19 pandemic.

    In this essay we provide a short roadmap through the main legal and constitutional issues that could arise if Election Day fails to result in a clear winner of the presidency, identify opportunities for political mischief, and explain why the weight of the constitutional structure favors President Donald Trump in a contested election.

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    Unusual Circumstances

    A crucial fact in this year’s election is that, largely because of COVID, an unprecedented number of voters will vote by mail. According to the Washington Post, 84% of the electorate, or 198 million eligible voters, will be able to vote by mail this year. In the 2016 election, roughly 25% of the votes were cast by mail. This year, as many of half the ballots may be mailed in.

    Republicans tend to prefer voting in person while Democrats tend to prefer absentee balloting. In the swing state of North Carolina, Democrats requested 53% of the absentee ballots and Republicans 15%. A July poll reported that 60% of the Democrats in Georgia, but only 28% of the Republicans, are likely to vote by mail.

    Counting mailed votes could make a decisive difference on Election Day. In the 2012 election, Barack Obama bolstered his winning margins substantially in swing states like Florida, Michigan, Ohio and Pennsylvania through overtime votes. Hillary Clinton picked up tens of thousands of overtime votes in 2016, though not enough to win. Last April, over 79,000 Wisconsin ballots arrived after election day (and were counted by court order) in a state that Trump carried in 2016 by about 23,000 votes. In Michigan’s August primary, 6,405 ballots missed the deadline and were not counted; Trump carried that state by 10,000 votes.

    In one plausible scenario, Trump appears to be the winner on the morning after Election Day, but a “blue wave” begins in the days and weeks after, and Biden claims a belated, overtime victory.

    Both Democrats and Republicans have sought either to enlarge or restrict the opportunities for absentee voting. A massive amount of litigation is already taking place. At last count, 279 Covid-related election cases are currently underway in 45 states, the District of Columbia, and Puerto Rico—and that tally does not include other litigation over other election issues.

    Vote-counting problems—and the litigation they will generate—do not end once deadlines are decided. States must match signatures on ballots to those on voter rolls and verify that each ballot is valid. Although some key states permit pre-Election Day verification, others do not. Pennsylvania, Wisconsin, and Michigan were among the latter. “Real problems will emerge here,” Karl Rove has warned, “especially when there’s a big increase in mail-in ballots over 2016.”

    In Pennsylvania, for example, 84,000 people voted by mail in the 2016 primaries; in 2020, 1.5 million did. In the best of circumstances, matching signatures on mail-in ballots to those on file with the state (from voter registration, ballot applications, or the DMV) is not, to the untrained eye, an easy task. Repeated and time-consuming challenges to the verification process will delay a final, official count.

    The Electoral Count

    Delayed election results could mean much more than the inconvenience of waking up on November 4 and not knowing who is President. They could trigger a constitutional crisis that would shake the country to its foundations.

    An old federal statute, the Electoral Count Act of 1887, establishes deadlines for the states to report their official results and for the 538 members of the Electoral College to meet. The latter date this year is December 14, or 41 days after Election Day. The state deadline this year is December 8. The date is a safe harbor: if a state reports in time, Congress will accept its electors. The Act provides that if “any controversy or contest” remains after December 8, Congress will decide which electors—if any—may cast their state’s votes in the Electoral College.

    Delays in counting the votes could well encroach on the December 8 deadline. State legislators and governors might come under mounting pressure to designate electors on their own if the popular vote remains incomplete, especially if there are allegations of fraud or abuse. Article II of the Constitution provides that “each state shall appoint, in such manner as the Legislature thereof may direct, a number of electors, equal to the whole number of Senators and Representatives to which the State may be entitled in the Congress.” The time when state legislatures directly appointed electors themselves are long gone: since the 19th century, states have delegated that power to their voters. But as the Supreme Court noted in Bush v. Gore, a state “can take back the power to appoint electors.”

    The constitutional question is not whether but how a state legislature could reclaim the appointment of electors. States have provided by statute for the selection of their electors by their voters; therefore it one might argue they may only resume that power with a second, superseding statute. On the other hand, the Constitution specifically designates state legislatures, rather than the executives or a combination of the two, to choose the electors.  A state legislature might argue that a past legislature-and-governor cannot constrain its discretion to choose electors today.  Is it likely that state legislatures in battleground states could reclaim their constitutional power before the December 8 deadline looms? Probably not.

    While Republicans control the state legislatures in six key battleground states, only two of those states also have Republican governors (Arizona and Florida). In four other contested states Republicans control the legislature, but Democrats control the executive: Michigan, North Carolina, Pennsylvania, Wisconsin. Only if the Constitution allows state legislatures, acting without the governor, to choose the electors, could those states cast electoral votes in a disputed popular election.

    But there is another scenario in which the state legislatures could designate electors if litigation held up a definitive accounting of the popular vote. This requires a closer look at the Electoral Count Act.

    The Act contemplates a post-election period in which states have the opportunity to resolve any “controversy or contest” in accordance with their pre-election law through “judicial or other methods or procedures.” Once this process has reached a definitive conclusion or “final ascertainment,” the governor is then to certify the electors. But the Act presupposes that all such controversies or contests have run their course before the governor submits the certified list of electors. What if December 8 is at hand and the controversies are still going on?

    Another provision of the Act could come into play. If a State has held an election on November 3 “and has failed to make a choice” by the December 8 deadline, the Act declares that “the electors may be appointed on a subsequent day [after Nov. 3] in such a manner as the legislature of such State may direct.” That failure could arise from fraud, uncertainty, ongoing recounts or litigation. In those circumstances, a state could be said to have “failed” to make a choice, and its legislature could pick the electors.

    That analysis presumes, however, that the Act is constitutional. The founders anticipated the possibility that the Electoral College would fail. In fact, they may not have foreseen political parties that would present the same presidential candidates in every state. Instead, several Founders seem to have thought that the states would often propose local favorites, that the Electoral College would reach no majority in the face of multiple candidates, and that the election would have to go to a backup procedure.

    No candidate may win in the Electoral College for less noble reasons as well. Suppose states send electoral votes that—even if certified by the governor—remain under question, whether because of fraud in the vote, inability to count the ballots accurately under neutral rules, or a dispute between branches of a state government.

    While the Electoral Count Act appears to create safe harbors for a state’s report of its Electoral College votes, the Act itself might prove unconstitutional. Under the 12th Amendment, “the President of the Senate [i.e., the Vice President] shall, in the Presence of the Senate and House of Representatives, open all the certificates [of the electoral votes of the states] and the votes shall then be counted.” Left unclear is who is to “count” the electors’ votes and how their validity is to be determined.

    Over the decades, political figures and legal scholars have offered different answers to these constitutional questions. We suggest that the Vice President’s role is not the merely ministerial one of opening the ballots and then handing them over (to whom?) to be counted. Though the 12th Amendment describes the counting in the passive voice, the language seems to envisage a single, continuous process in which the Vice President both opens and counts the votes.

    The check on error or fraud in the count is that the Vice President’s activities are to be done publicly, “in the presence” of Congress. And if “counting” the electors’ votes is the Vice President’s responsibility, then the inextricably intertwined responsibility for judging the validity of those votes must also be his.

    If that reading is correct, then the Electoral Count Act is unconstitutional. Congress cannot use legislation to dictate how any individual branch of government is to perform its unique duties: Congress could not prescribe how future Senates should conduct an impeachment trial, for example. Similarly, we think the better reading is that Vice President Pence would decide between competing slates of electors chosen by state legislators and governors, or decide whether to count votes that remain in litigation.

    The Role of the House

    If the electoral count remains uncertain enough to deprive either Trump or Biden of a majority in the Electoral College, then the 12th Amendment orders that “the House of Representatives shall choose immediately, by ballot, the President.” Our nation barely avoided that outcome 20 years ago in the 2000 Florida recount and has only used twice it in our history (in 1800 and 1824). So if the disasters described above occur, then the Constitution gives the power to choose the President to the House.

    So it seems like Nancy Pelosi and the Democrats would get to pick the winner. But not so fast, said the framers, who feared congressional control of the executive. Rather than allow a simple majority vote, the Constitution requires that the House choose the President by voting as state delegations. If the House decides the Presidency, Delaware would have the same number of votes as California.

    This unusual process makes sense in light of the larger constitutional structure. The Framers rejected the idea that Congress should pick the President, which they believed would rob the Chief Executive of independence, responsibility, and energy. They wanted the people to have the primary hand in choosing the President, but mediated through the states, because they also feared direct democracy.

    Thanks to Republican advantages among the states (rather than the cities) the current balance of state delegations in Congress favors Republicans by 26-23 (with Pennsylvania tied). If today’s House chose the president, voting by state delegations, Trump would win handily.

    But there is another twist. The 20th Amendment to the Constitution seats a new Congress on January 3, but does not begin the term of a new president until noon on January 20. The new Congress chosen in the 2020 elections, rather than the current Congress, would choose the President. Even though Republicans currently have a majority of delegations, Democrats have narrowed the gap—after the 2016 elections, Republicans had held a 32-17 advantage in state congressional delegations. If Democrats can win one more congressional seat in Pennsylvania and then flip one more delegation, they could achieve a 25-25 tie in the House. Then the election would require political bargaining of the most extreme kind for the House to resolve a disputed presidential election.

    First Constitutional Backup

    Suppose the House cannot agree, which could well happen given the polarization of our politics. The Constitution even provides for this. If the House splits 25-25 between Trump and Biden, then the 20th Amendment elevates the Vice President-elect to the Presidency.

    Under the 12th Amendment, when the Electoral College fails, the Senate chooses the Vice President. Unlike the House procedure, the Senators each have one vote, meaning that under the current balance in the upper chamber, 53 Republicans would choose Mike Pence to effectively become the next President. But, as with the House, it is the Senate chosen by the 2020 elections, rather than the 2018 elections, that will choose the Vice President. On November 4, we may well learn who will win the Presidency—because control of the Senate is also at stake.

    Suppose that this November, Democrats take three Senate seats—those in Arizona, Maine, Colorado, and North Carolina, while losing Alabama—and the Senate divides 50-50. Could Pence, as the sitting President of the Senate on January 3, break a tie in the Senate in his favor to make him Vice President on January 20, 2021, and hence President due to the inability of the House to break its own deadlock? It appears that this is the case; Article I, Section 3 of the Constitution says the Vice President “shall have no Vote, unless [Senators] be equally divided.” It does not restrict the Vice President’s tie-breaking vote to some functions of the Senate but not others. In those extreme circumstances, Pence might recuse himself, but the Constitution would not require it.

    Second Constitutional Backup

    Suppose then the House, Senate, sitting President, and even Vice President Pence decide that he should not use that tie-breaking power. Then the Constitution’s backup system for the Electoral College will have failed.

    That still leaves a second backup system. Article II of the Constitution states that in “the Case of Removal, Death, Resignation or Inability” of both the President and Vice President, Congress can declare “what Officer shall then act as President” until the disability ends or a new President is elected. Don’t forget that word, “Officer,” because it may make all the difference.

    Under the current federal succession statute, Congress decided that congressional leaders should assume the Presidency. Speaker of the House Nancy Pelosi sits first in line, followed by the President pro tem of the Senate, currently Chuck Grassley. From there, the line of succession continues to Secretary of State Mike Pompeo, and then the other cabinet members.

    But, as Yale law professor Akhil Amar persuasively argued in 1995 (at the prospect of Newt Gingrich becoming President should Congress impeach Bill Clinton!), this part of the federal succession statute likely violates the Constitution. Notice that Article II requires that the Presidency pass down to an “Officer.” The Constitution generally—but not always—refers to “Officers” as members of the Executive Branch. Further, the Incompatibility Clause of the Constitution prohibits Members of Congress to hold executive office. Neither Nancy Pelosi nor Chuck Grassley can become President. Mike Pompeo would become President—an outcome so unusual, so unexpected, it just might fit our bizarre times.

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Today’s News 20th October 2020

  • Finance Job Vacancies In London Collapse
    Finance Job Vacancies In London Collapse

    Tyler Durden

    Tue, 10/20/2020 – 02:45

    As if European banks did not have enough on their plates, with diving profitability in a prolonged period of zero or negative interest rates, along with rising NPLs, the virus pandemic has accelerated the plunge into the abyss, which as of recent, has resulted in a collapse in finance job vacancies and industrywide job cuts. 

    Bloomberg, citing a new report via recruitment firm Morgan McKinley, said job vacancies in London’s finance industry were more than halved in the third quarter compared with 2019. The report said coronavirus, Brexit, and bank profits discouraged many of the top banks situated in the financial district to hire in the third quarter – as many also reduced their workforce.

    Morgan McKinley showed only 3,800 finance position openings were offered in the three months through September, a sharp drop of 4,500 openings from 8,300 compared with the quarter last year, representing a 54% decline. 

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    Hakan Enver, managing director at Morgan McKinley U.K., said, “businesses and job seekers were struggling with the impact of the pandemic and worried about what a second wave will mean.” 

    “But we also can’t forget about Brexit. There are concerns for the long-term recovery and the free flow of capital and equivalence for U.K. financial services that need to be clarified,” Enver said. 

    The plunge in London third-quarter finance position openings comes as big banks such as Citi, Wells Fargo, HSBC, and Deutsche Bank reduce their workforce to the tune of 64,000 this year. The number of job cuts could be on pace to surpass 78,000 bank jobs lost last year and could soon hone in on the 94,100 cuts seen in 2015. 

    The coronavirus pandemic has halved the FTSE U.K. bank equity since the start of the pandemic. 

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    Andrea Enria, chair of the ECB’s supervisory board, recently told the German business daily Handelsblatt that a second wave of the virus pandemic could spark another surge of bad loans. 

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    Rating agency S&P has remained vocal about the European bank debacle, warning corporate default rates would more than double over the next nine months to 8.5% from 3.8%.

    Europe’s financial system is hanging on by a thread. Another round of the pandemic could doom the continent’s banking industry; nevertheless, bankers at Barclays, Deutsche Bank, and SocGen will be unhappy this year as their bonuses are set to slump because of the virus-induced downturn. 

  • France: Death To Free Speech
    France: Death To Free Speech

    Tyler Durden

    Tue, 10/20/2020 – 02:00

    Authored by Guy Millière via The Gatestone Institute,

    Paris, October 16. A history teacher who had shown his students cartoons of the Islamic Prophet Muhammad and had spoken with them about freedom of speech was beheaded in Conflans-Sainte-Honorine, a small town in the suburbs of Paris. The murderer, who tried to attack the police attempting to arrest him, was shot and killed while shouting “Allahu Akbar”. According to the public prosecutor, he was a family member of one of the students. The facts are still unfolding….

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    A few weeks before that, on September 25, Zaheer Hassan Mehmood, a 25-year-old Pakistani man, attacked and seriously injured two people with a cleaver. When he tried to escape, he was arrested by police. He had entered France illegally in 2018, had appeared before a judge to ask for asylum and to benefit from the status of an “isolated minor”. The information he gave the judge was false: he had said he was 18 years old. The judge accepted his request and refused any method of determining his real age. Since then, Mehmood has been financially supported by the French government. It gave him housing, training and a monthly allowance.

    Just before the attack, Mehmood posted a video on a social network in which he tried to justify his act. He wanted, he said, to kill people working for the satirical magazine Charlie Hebdo because it had republished the cartoons that had triggered the murderous attack on the magazine in January 2015. He wanted, he said, to avenge the offense done to the Prophet Muhammad. He stated his allegiance to Ilyas Qadri, founder of Dawat-e-Islami, a Sufi movement that claims to condemn violence, even though its members have nevertheless murdered people they accused of blasphemy.

    In September, Mehmood had gone to the magazine’s old address. The people he injured were not working for Charlie Hebdo, which had long since moved, but for a documentary production company. They are now disfigured for the rest of their lives.

    The attack sadly shows that criticizing Islam is still an extremely dangerous activity. Anyone even suspected of doing it can be injured or killed, anytime, anywhere. It also shows that one can decide to attack or become a murderer even if one does not belong to an organization defined as jihadist, or shown no signs of radicalization. The attack once again confirms the existence of what Daniel Pipes has called “sudden jihad syndrome“.

    The attack shows that, in addition, France, like other Western countries, is abysmally lax in guiding those who are arriving on its soil and asking for its help. A man can lie about his age and identity without their being detected and without tighter controls. The attack shows that declaring oneself an “isolated minor” in France can be sufficient not to be observed at all and still receive full assistance from the government. The attack also suggests a disappointing grade for gratitude.

    Logic would require that a defense of freedom of expression be immediately and unanimously affirmed; that the government call for vigilance in the face of extremist danger, which seems to be persistent, and that more stringent controls on those who apply for asylum be set up. None of those improvements has taken place.

    On September 23, two days before Mehmood’s attack, an article purporting to defend freedom of speech was published in France by 90 newspapers. The article said that “women and men of our country have been murdered by fanatics, because of their opinions… we must join forces,” it added, “to drive away fear and make our indestructible love of freedom triumph”. The article seemed deliberately vague. It did not mention who the murderers were or what might have motivated them.

    The day after the attack, several commentators counseled that in France, the love of freedom was not indestructible. They prescribed self-censorship and ventured — unfortunately “blaming the victim” — that those who had decided to republish the cartoons were the ones responsible for the attack. “When you repost cartoons”, Anne Giudicelli, a journalist, said on television, “you play into the hands of these organizations. By not saying certain things, you reduce the risks.”

    “When you shock a person”, TV host Cyril Hanouna ventured, “you have to stop. Charlie Hebdo drawings pour oil on the fire”.

    The persistence of Islamic danger was not mentioned, except by the journalist Éric Zemmour. Ironically, on the day of the attack, Zemmour was sentenced to a heavy fine (10,000 euros, nearly $12,000) for remarks on Islam in September 2019. He had said at the time that “Muslim foreign enclaves” exist in France. They do. At least 750 of them. He also noted that attacks in the name of Islam have not disappeared and seem likely to increase. The French justice system decided to regard these words as “incitement to hatred”.

    After the cleaver attack, no one requested tightening controls on asylum seekers, except, again, Zemmour. He said that “the uncontrolled presence of unaccompanied minors on the French territory is a very serious problem” and that “we must no longer welcome unaccompanied minors in France as long as drastic controls are not put in place”. He recalled that many self-proclaimed unaccompanied minors lie about their age, commit crimes, and turn out to be “thieves and assassins”.

    His words immediately caused a massive scandal. Even though he did not say a single word about race or religion, dozens of complaints were lodged against him by “anti-racist associations”, and the French Ministry of Justice robotically opened another investigation against him for “incitement to racial hatred” and “Islamophobic prejudice”. He will most likely again be condemned by the courts.

    Facts, however, prove Zemmour is right. The National Observatory of Delinquency and Penal Responses (ONDRP), an organization that analyzes crime in France, recently published reports noting that 60% of assaults, murders and violent robberies committed in France in 2019 were indeed committed by “unaccompanied minors”. ONDPR published still another study, disclosing that, on average, 120 knife attacks per day occur in France and that those attacks are committed by “unaccompanied minors” or “refugees” coming from the Muslim world.

    In addition, France’s Directorate-General for Internal Security (DGSI) reported a few weeks ago, that, since January 2015, 59 Islamist attacks have been thwarted in France. Those, of course, not thwarted include the attack against Charlie Hebdo; the murders the same day in a kosher supermarket; a mass murder in the Bataclan Theater; the murder of Arnaud Beltrame, who took a bullet to shield others; the murders of Fr. Jacques Hamel; of schoolchildren and others in Toulouse, of elderly Jews in Paris, and of at least 84 people watching fireworks in Nice. These attacks were all committed by French Muslims or Muslims legally present in France.

    French laws currently make it possible to prosecute just about anything regarded as “incitement to discrimination, hatred or violence against a person or a group of people because of their origin or their belonging to an ethnic group, a nation, a race or a religion.” An openly Marxist organization of judges, the Judiciary Union (Syndicat de la magistrature), has steadily gained influence and uses applicable laws to suppress any criticism of either Islam or immigration. They work together with organizations such as SOS Racism, founded in 1984 by members to the left of the Socialist Party; the Movement against Racism and for Friendship between Peoples (MRAP), created in 1949 by members of the French Communist Party (the MRAP was initially called Movement Against Racism, anti-Semitism and for Peace, and removed “anti-Semitism and for Peace” from its name in 1989, when it devoted itself almost entirely to the fight “Islamophobic racism“); the Collective Against Islamophobia in France (CCIF), created in 2003 by members of the Union of Islamic Organizations of France (UOIF), the French branch of the Muslim Brotherhood, and Coordination Against Racism and Islamophobia (CRI), created in 2009.

    Any criticism of Islam in France can lead to legal action. The French mainstream media, threatened with prosecution by their own government, have evidently decided no longer to invite on air anyone likely to make comments that could lead to convictions or complaints. Zemmour might still appear on television, but the increasingly heavy fines imposed on him are aimed at silencing him and potentially punishing stations that invite him.

    No French political leader dares to say what he says, not even Marine Le Pen. She has been condemned several times by the French judicial system, and, as in the former Soviet Union, ordered to undergo a psychiatric evaluation for having shown the public what ISIS was doing to “disbelievers”. She has evidently now decided to be “careful”.

    The French authorities continue to ignore most of the violent attacks committed in the name of Islam. When they occurred — against a Jewish school in Toulouse in 2012, or against Charlie Hebdo and a kosher supermarket 2015, or at the Bataclan Theater in 2015, or by the truck-ramming in Nice in 2016 — the country’s leaders promised “firmness” but delivered nothing.

    A week after the September 25 attack, French President Emmanuel Macron again delivered a speech that pledged “firmness”. He denounced “Islamic separatism” and the “Islamic indoctrination” practiced by radical preachers. He said he would fight terrorism and “liberate French Islam from foreign influences” and that in French schools and universities, he would “strengthen the teaching of Islamic civilization” and “teaching the Arabic language“. He said nothing that he has not said before. Seven months ago, on February 18, he gave almost the identical speech in Alsace.

    Ibrahim Mounir, spokesman for the Muslim Brotherhood in Europe, nevertheless accused Macron of “hurting the feelings of more than two billion Muslims” and of “acting deliberately to incite Muslims to renounce their religion”. He added: “The beliefs of the Muslim Brotherhood have always been able to overcome the mistakes of regimes using illegal and inhuman abuses to distort our religion”. Manon Aubry, MEP from the leftist party Rebellious France, commented that “Macron obsessively wants to stigmatize Muslims”.

    Marine Le Pen, head of the National Rally Party, said that “Macron omitted certain subjects, probably deliberately: he said nothing on terrorism, and nothing on immigration”. She added that “massive immigration is the breeding ground of communitarianism [empowering groups rather than individuals], which itself is the breeding ground of Islamist fundamentalism”.

    The journalist Celine Pina noted that Macron did not speak about the status of asylum seekers. “Once again,” she wrote, “Macron refuses really to tackle the causes of the problems that the French suffer. The government fights terrorism by pretending not to see the link between the propaganda of political Islam and the proliferation of violent acts”.

    Columnist Ivan Rioufol wrote that “the measures Macron is advocating do not respond at all to the urgency of the threat.”

    Jean Messiha, a senior civil servant of Coptic Christian origin and member of the National Rally party, noted that “Islam does not seek to separate but to conquer”. He added that “speaking of an Islam of France dissociated from Islam itself does not make any sense”. As Turkish President Recep Tayyip Erdogan correctly noted, “There is no extremist Islam or moderate Islam; Islam is Islam and that’s it”.

    Messiha also suggested that “strengthening the teaching of Islamic civilization is not a priority at a moment when so many young French people no longer know what French civilization is”, and that “strengthening the teaching of Arabic will simply help to nourish ‘cultural replacement'”.

    France is now the European country with the largest Muslim population (around six million, or nearly 10% of the total population); each year, moreover, thousand more people from the Muslim world arrive in France. Most of the Muslims living in France today reside in Muslim neighborhoods from which most non-Muslims have fled.

    A 2016 study showed that 29% of Muslims living in France believe that Islamic law is superior to French law, and that they must first and foremost obey the laws of Islam. A recent study shows that four years later, the situation has only worsened. Now, 40% of Muslims living in France believe that Islamic law is superior to French law. Eighteen percent of French Muslims also apparently think that the deadly attack on Charlie Hebdo in 2015 was justified. Among Muslims between the ages of 18- 25, that number rises to 26%.

    Studies show that if migratory flows continue at the current pace, France could become a Muslim-majority country within 30 to 40 years. Other European countries are moving in the same direction; their leaders are behaving no more courageously than French leaders are. Censorship against anti-Islamic statements is increasing rapidly across the continent.

    Abdelaziz Chaambi, director of the group Coordination Against Racism and Islamophobia, recently said that “the data shows that France will be Muslim in a few decades… Islam is the second religion, the second community in France, and those who do not like Muslims have to leave France”.

    At the end of the speech that earned Zemmour his September 25 court sentence, he told the French, “You are right to be afraid”.

    trial is now underway in Paris for those who attacked Charlie Hebdo and the kosher supermarket in 2015. The trial, however, is largely meaningless. All the terrorists are dead. The defendants are simply people who provided weapons or shelter to the terrorists. It is easy for them to say they did not know whom they were hosting or for what the weapons were intended. They have even said that they do not know anything about jihad.

    Commenting on a news report that stated, “The trial has sparked protests across France, with thousands of demonstrators rallying against Charlie Hebdo and the French government,” the American attorney and commentator, John Hinderaker, wrote: “When thousands demonstrate against the prosecution of alleged murderers, you know you have a problem.”

    On October 9, Macron announced that he had secured the release of a woman held hostage by a jihadist group in Mali. The release was obtained in exchange for a ransom of $12 million and the freeing of 200 jihadists ready to return to combat against the French military. The hostage, Sophie Petronin, a 75-year-old aid worker, said she converted to Islam, that her name is now Myriam, and that she wants to quickly go back to Mali to live among jihadists. She said she understands why the jihadists fight the French army. France is officially at war with the jihadists in Mali. Macron, it seems, has an oddball, idiosyncratic way of waging war.

    This is not the first time that France has paid a ransom — a practice many countries emphatically reject because it only invites more hostage-taking. Between 2008-2014, to free hostages, France has paid $58 million, more than any other country. Where does one sign up?

  • Treason In America: An Overview Of The FBI, CIA, And Matters Of "National Security"
    Treason In America: An Overview Of The FBI, CIA, And Matters Of “National Security”

    Tyler Durden

    Mon, 10/19/2020 – 23:40

    Authored by Cynthia Chung via The Strategic Culture Foundation,

    “Treason doth never prosper; what is the reason? Why, if it prosper, none dare call it treason.”

     Sir John Harrington.

    As Shakespeare would state in his play Hamlet, “Something is rotten in the state of Denmark,” like a fish that rots from head to tail, so do corrupt government systems rot from top to bottom.

    This is a reference to the ruling system of Denmark and not just the foul murder that King Claudius has committed against his brother, Hamlet’s father. This is showcased in the play by reference to the economy of Denmark being in a state of shambles and that the Danish people are ready to revolt since they are on the verge of starving. King Claudius has only been king for a couple of months, and thus this state of affairs, though he inflames, did not originate with him.

    Thus, during our time of great upheaval we should ask ourselves; what constitutes the persisting “ruling system,” of the United States, and where do the injustices in its state of affairs truly originate from?

    The tragedy of Hamlet does not just lie in the action (or lack of action) of one man, but rather, it is contained in the choices and actions of all its main characters. Each character fails to see the longer term consequences of their own actions, which leads not only to their ruin but towards the ultimate collapse of Denmark. The characters are so caught up in their antagonism against one another that they fail to foresee that their very own destruction is intertwined with the other.

    This is a reflection of a failing system.

    A system that, though it believes itself to be fighting tooth and nail for its very survival, is only digging a deeper grave. A system that is incapable of generating any real solutions to the problems it faces.

    The only way out of this is to address that very fact. The most important issue that will decide the fate of the country is what sort of changes are going to occur in the political and intelligence apparatus, such that a continuation of this tyrannical treason is finally stopped in its tracks and unable to sow further discord and chaos.

    When the Matter of “Truth” Becomes a Threat to “National Security”

    When the matter of truth is depicted as a possible threat to those that govern a country, you no longer have a democratic state. True, not everything can be disclosed to the public in real time, but we are sitting on a mountain of classified intelligence material that goes back more than 60 years.

    How much time needs to elapse before the American people have the right to know the truth behind what their government agencies have been doing within their own country and abroad in the name of the “free” world?

    From this recognition, the whole matter of declassifying material around the Russigate scandal in real time, and not highly redacted 50 years from now, is essential to addressing this festering putrefaction that has been bubbling over since the heinous assassination of President Kennedy on Nov. 22nd, 1963 and to which we are still waiting for full disclosure of classified papers 57 years later.

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    If the American people really want to finally see who is standing behind that curtain in Oz, now is the time.

    These intelligence bureaus need to be reviewed for what kind of method and standard they are upholding in collecting their “intelligence,” that has supposedly justified the Mueller investigation and the never-ending Flynn investigation which have provided zero conclusive evidence to back up their allegations and which have massively infringed on the elected government’s ability to make the changes that they had committed to the American people.

    Just like the Iraq and Libya war that was based off of cooked British intelligence (refer here and here), Russiagate appears to have also had its impetus from our friends over at MI6 as well. It is no surprise that Sir Richard Dearlove, who was then MI6 chief (1999-2004) and who oversaw and stood by the fraudulent intelligence on Iraq stating they bought uranium from Niger to build a nuclear weapon, is the very same Sir Richard Dearlove who promoted the Christopher Steele dossier as something “credible” to American intelligence.

    In other words, the same man who is largely responsible for encouraging the illegal invasion of Iraq, which set off the never-ending wars on “terror,” that was justified with cooked British intelligence is also responsible for encouraging the Russian spook witch-hunt that has been occurring within the U.S. for the last four years…over more cooked British intelligence, and the FBI and CIA are knowingly complicit in this.

    Neither the American people, nor the world as a whole, can afford to suffer any more of the so-called “mistaken” intelligence bumblings. It is time that these intelligence bureaus are held accountable for at best criminal negligence, at worst, treason against their own country.

    When Great Figures of Hope Are Targeted as Threats to “National Security”

    The Family Jewels report, which was an investigation conducted by the CIA to investigate itself, was spurred by the Watergate Scandal and the CIA’s unconstitutional role in the whole affair. This investigation by the CIA reviewed its own conduct from the 1950s to mid-1970s.

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    The Family Jewels report was only partially declassified in June 25, 2007 (30 years later). Along with the release of the redacted report included a six-page summary with the following introduction:

    The Central Intelligence Agency violated its charter for 25 years until revelations of illegal wiretapping, domestic surveillance, assassination plots, and human experimentation led to official investigations and reforms in the 1970s.” [emphasis added]

    Despite this acknowledged violation of its charter for 25 years, which is pretty much since its inception, the details of this information were kept classified for 30 years from not just the public but major governmental bodies and it was left to the agency itself to judge how best to “reform” its ways.

    On Dec. 22, 1974, The New York Times published an article by Seymour Hersh exposing illegal operations conducted by the CIA, dubbed the “family jewels”. This included, covert action programs involving assassination attempts on foreign leaders and covert attempts to subvert foreign governments, which were reported for the first time. In addition, the article discussed efforts by intelligence agencies to collect information on the political activities of U.S. citizens.

    Largely as a reaction to Hersh’s findings, the creation of the Church Committee was approved on January 27, 1975, by a vote of 82 to 4 in the Senate.

    The Church Committee’s final report was published in April 1976, including seven volumes of Church Committee hearings in the Senate.

    The Church Committee also published an interim report titled “Alleged Assassination Plots Involving Foreign Leaders”, which investigated alleged attempts to assassinate foreign leaders, including Patrice Lumumba of Zaire, Rafael Trujillo of the Dominican Republic, Ngo Dinh Diem of Vietnam, Gen. René Schneider of Chile and Fidel Castro of Cuba. President Ford attempted to withhold the report from the public, but failed and reluctantly issued Executive Order 11905 after pressure from the public and the Church Committee.

    Executive Order 11905 is a United States Presidential Executive Order signed on February 18, 1976, by a very reluctant President Ford in an attempt to reform the United States Intelligence Community, improve oversight on foreign intelligence activities, and ban political assassination.

    The attempt is now regarded as a failure and was largely undone by President Reagan who issued Executive Order 12333, which extended the powers and responsibilities of U.S. intelligence agencies and directed leaders of the U.S. federal agencies to co-operate fully with the CIA, which was the original arrangement that CIA have full authority over clandestine operations (for more information on this refer to my papers here and here).

    In addition, the Church Committee produced seven case studies on covert operations, but only the one on Chile was released, titled “Covert Action in Chile: 1963–1973“. The rest were kept secret at the CIA’s request.

    Among the most shocking revelation of the Church Committee was the discovery of Operation SHAMROCK, in which the major telecommunications companies shared their traffic with the NSA from 1945 to the early 1970s. The information gathered in this operation fed directly into the NSA Watch List. It was found out during the committee investigations that Senator Frank Church, who was overseeing the committee, was among the prominent names under surveillance on this NSA Watch List.

    In 1975, the Church Committee decided to unilaterally declassify the particulars of this operation, against the objections of President Ford’s administration (refer here and here for more information).

    The Church Committee’s reports constitute the most extensive review of intelligence activities ever made available to the public. Much of the contents were classified, but over 50,000 pages were declassified under the President John F. Kennedy Assassination Records Collection Act of 1992.

    President Kennedy was assassinated in Dallas, Texas on Nov. 22nd, 1963. Two days before his assassination a hate-Kennedy handbill (see picture) was circulated in Dallas accusing the president of treasonous activities including being a communist sympathizer.

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    On March 1st, 1967 New Orleans District Attorney Jim Garrison arrested and charged Clay Shaw with conspiring to assassinate President Kennedy, with the help of David Ferrie and others. After a little over a one month long trial, Shaw was found not guilty on March 1st, 1969.

    David Ferrie, a controller of Lee Harvey Oswald, was going to be a key witness and would have provided the ”smoking gun” evidence linking himself to Clay Shaw, was likely murdered on Feb. 22nd, 1967, less than a week after news of Garrison’s investigation broke in the media.

    According to Garrison’s team findings, there was reason to believe that the CIA was involved in the orchestrations of President Kennedy’s assassination but access to classified material (which was nearly everything concerning the case) was necessary to continue such an investigation.

    Though Garrison’s team lacked direct evidence, they were able to collect an immense amount of circumstantial evidence, which should have given the justification for access to classified material for further investigation. Instead the case was thrown out of court prematurely and is now treated as if it were a circus. [Refer to Garrison’s book for further details and Oliver Stone’s excellently researched movie JFK]

    To date, it is the only trial to be brought forward concerning the assassination of President Kennedy.

    The Assassination Records Review Board (ARRB) was created in 1994 by the Congress enacted President John F. Kennedy Assassination Records Collection Act of 1992, which mandated that all assassination-related material be housed in a single collection within the National Archives and Records Administration. In July 1998, a staff report released by the ARRB emphasized shortcomings in the original autopsy.

    The ARRB wrote, “One of the many tragedies of the assassination of President Kennedy has been the incompleteness of the autopsy record and the suspicion caused by the shroud of secrecy that has surrounded the records that do exist.” [emphasis added]

    The staff report for the Assassinations Records Review Board contended that brain photographs in the Kennedy records are not of Kennedy’s brain and show much less damage than Kennedy sustained.

    The Washington Post reported:

    Asked about the lunchroom episode [where he was overheard stating his notes of the autopsy went missing] in a May 1996 deposition, Finck said he did not remember it. He was also vague about how many notes he took during the autopsy but confirmed that “after the autopsy I also wrote notes” and that he turned over whatever notes he had to the chief autopsy physician, James J. Humes.

    It has long been known that Humes destroyed some original autopsy papers in a fireplace at his home on Nov. 24, 1963. He told the Warren Commission that what he burned was an original draft of his autopsy report. Under persistent questioning at a February 1996 deposition by the Review Board, Humes said he destroyed the draft and his “original notes.”

    …Shown official autopsy photographs of Kennedy from the National Archives, [Saundra K.] Spencer [who worked in “the White House lab”] said they were not the ones she helped process and were printed on different paper. She said “there was no blood or opening cavities” and the wounds were much smaller in the pictures… [than what she had] worked on…

    John T. Stringer, who said he was the only one to take photos during the autopsy itself, said some of those were missing as well. He said that pictures he took of Kennedy’s brain at a “supplementary autopsy” were different from the official set that was shown to him.” [emphasis added]

    This not only shows that evidence tampering did indeed occur, as even the Warren Commission acknowledges, but this puts into question the reliability of the entire assassination record of John F. Kennedy and to what degree evidence tampering and forgery have occurred in these records.

    We would also do well to remember the numerous crimes that the FBI and CIA have been guilty of committing upon the American people such as during the period of McCarthyism. That the FBI’s COINTELPRO has been implicated in covert operations against members of the civil rights movement, including Martin Luther King Jr. during the 1960s. That FBI director J. Edgar Hoover made no secret of his hostility towards Dr. King and his ludicrous belief that King was influenced by communists, despite having no evidence to that effect.

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    King was assassinated on April 4th, 1968 and the civil rights movement took a major blow.

    In November 1975, as the Church Committee was completing its investigation, the Department of Justice formed a Task Force to examine the FBI’s program of harassment directed at Dr. King, including the FBI’s security investigations of him, his assassination and the FBI conducted criminal investigation that followed. One aspect of the Task force study was to determine “whether any action taken in relation to Dr. King by the FBI before the assassination had, or might have had, an effect, direct or indirect, on that event.”

    In its report, the Task Force criticized the FBI not for the opening, but for the protracted continuation of, its security investigation of Dr. King:

    We think the security investigation which included both physical and technical surveillance, should have been terminated … in 1963. That it was intensified and augmented by a COINTELPRO type campaign against Dr. King was unwarranted; the COINTELPRO type campaign, moreover, was ultra vires and very probably … felonious.

    In 1999, King Family v. Jowers civil suit in Memphis, Tennessee occurred, the full transcript of the trial can be found here. The jury found that Lloyd Jowers and unnamed others, including those in high ranking positions within government agencies, participated in a conspiracy to assassinate Dr. King.

    During the four week trial, it was pointed out that the rifle allegedly used to assassinate King did not have a scope that was sighted, which meant you could not have hit the broad side of a barn with that rifle, thus it could not have been the murder weapon.

    This was only remarked on over 30 years after King was murdered and showed the level of incompetence, or more likely, evidence tampering that was committed from previous investigations conducted by the FBI.

    The case of JFK and MLK are among the highest profile assassination cases in American history, and it has been shown in both cases that evidence tampering has indeed occurred, despite being in the center of the public eye. What are we then to expect as the standard of investigation for all the other cases of malfeasance? What expectation can we have that justice is ever upheld?

    With a history of such blatant misconduct, it is clear that the present demand to declassify the Russiagate papers now, and not 50 years later, needs to occur if we are to address the level of criminality that is going on behind the scenes and which will determine the fate of the country.

    The American People Deserve to Know

    Today we see the continuation of the over seven decades’ long ruse, the targeting of individuals as Russian agents without any basis, in order to remove them from the political arena. The present effort to declassify the Russiagate papers and exonerate Michael Flynn, so that he may freely speak of the intelligence he knows, is not a threat to national security, it is a threat to those who have committed treason against their country.

    On Oct. 6th, 2020, President Trump ordered the declassification of the Russia Probe documents along with the classified documents on the findings concerning the Hillary Clinton emails. The release of these documents threatens to expose the entrapment of the Trump campaign by the Clinton campaign with help of the U.S. intelligence agencies.

    The Director of National Intelligence John Ratcliffe released some of these documents recently, including former CIA Director John Brennan’s handwritten notes for a meeting with former President Obama, the notes revealing that Hillary Clinton approved a plan to “vilify Donald Trump by stirring up scandal claiming interference by the Russian security service.”

    Trey Gowdy, who was Chair of the House Oversight Committee from June 13th, 2017 – Jan. 3rd, 2019, has stated in an interview on Oct. 7th, 2020 that he has never seen these documents. Devin Nunes, who was Chair of the House Intelligence Committee from Jan. 3rd, 2015 – Jan. 3rd, 2019, has also said in a recent interview that he has never seen these documents.

    And yet, both the FBI and CIA were aware and had access to these documents and sat on them for four years, withholding their release from several government-led investigations that were looking into the Russiagate scandal and who were requesting relevant material that was in the possession of both intelligence bureaus. Do these intelligence bureaus sound like they are working for the “national security” of the American people?

    The truth must finally be brought to light, or the country will rot from its head to tail.

  • Iran Can Now 'Legally' Sell Arms To America's Enemies With UN Embargo Lifted
    Iran Can Now ‘Legally’ Sell Arms To America’s Enemies With UN Embargo Lifted

    Tyler Durden

    Mon, 10/19/2020 – 23:20

    Upon Sunday’s historic expiration of the 13-year long UN weapons embargo on Iran, the AFP and others noted that the Islamic Republic has ruled out a weapons “buying spree” at a moment Russia and China have indicated they’re quite open to selling advanced systems to Tehran.

    The Foreign Ministry said of the “momentous day” on Sunday that “as of today, the Islamic Republic of Iran may procure any necessary arms and equipment from any source without any legal restrictions and solely based on its defensive needs.”

    However, Iran’s Ministry of Defense has indicated it is ready and willing to sell weapons to “countries despised by the US” – as one state media headline reads. As Al Jazeera has emphasized, “The end of the embargo means Iran will legally be able to buy and sell conventional arms, including missiles, helicopters and tanks.”

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    Iran’s Defense Minister Brigadier General Amir Hatami inspects a domestic produced sniper rifle at an arms exhibition, via PressTV/ISNA

    Citing the country’s defense minister, the Iranian media report says:

    Iran’s defense minister says the country is going to support the countries that seek to defend their existence now that the UN Security Council’s restrictions on Tehran’s arms trade are lifted.

    Brigadier General Amir Hatami said Iran will sell arms to the countries despised by the Americans if they ask for it.

    He explained in a Sunday night televised interview that “Many countries have already talked to us; we have held negotiations with some countries, and the grounds are totally prepared for exchanges [of weapons], both for selling [arms to other countries] and for supplying certain needs [buying weapons].”

    “Of course our sales will be much more extensive than our purchases,” he said.

    While finding itself isolated among international powers and unable to deal even with potential ‘friendly’ countries under the pressure of US sanctions reimposed since 2018, Iran has been unable to make major deals, though has closely supported its ally Syria throughout the proxy war in that country.

    Iran has also been long accused of supplying ballistic missiles to Yemen’s Houthi rebels as well, resulting in occasional major attacks on Saudi Arabian military and oil facility sites.

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    But it’s clear there’s been some significant advances in the Islamic Republic’s domestic production capabilities. Gen. Hatami touted this, saying “Even our enemies admit that Iran today is a significant missile power in the world… It is also a renowned world power in the aerial field.” He highlighted Iranian-build drones and missile defense systems.

    “Our Khordad-3 defense system managed to target an expensive American stealth drone which had intruded the Iranian airspace,” the defense minister underscored.

    One likely country “despised by the US” – in the top commander’s words – that Iran is likely to sell to is Venezuela.

    Over the past two years Washington has actively plotted to topple Nicolas Maduro with the help of local military dissidents, but to no avail. From there, Iran stepped up its support to Caracas, especially by shipping tankers full of gasoline of late.

  • Sperry Exposes The Complete History Of Hunter Biden's Crony-Connected Jobs
    Sperry Exposes The Complete History Of Hunter Biden’s Crony-Connected Jobs

    Tyler Durden

    Mon, 10/19/2020 – 23:00

    Authored by Paul Sperry via RealClearInvestigations.com,

    Hunter Biden profited from his father’s political connections long before he struck questionable deals in countries where Joe Biden was undertaking diplomatic missions as vice president. In fact, virtually all the jobs listed on his resume going back to his first position out of college, which paid a six-figure salary, came courtesy of the former six-term senator’s donors, lobbyists and allies, a RealClearInvestigations examination has found.

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    Hunter Biden: Through a lawyer, he maintained he and his father dutifully avoided “conflicts of interest.” Democratic National Convention/YouTube

    One document reviewed by RCI reveals that a Biden associate admitted “finding employment” for Hunter Biden specifically as a special favor to his father, then a Senate leader running for president. He secured a $1.2 million gig on Wall Street for his young son, even though it was understood he had no experience in high finance. Many of his generous patrons, in turn, ended up with legislation and policies favorable to their businesses or investments, an RCI review of lobbying records and legislative actions taken by the elder Biden confirms.

    That the 50-year-old Hunter has been trading on his Democratic father’s political influence his entire adult life raises legal questions about possible influence-peddling, government watchdogs and former federal investigators say. In addition, the more than two-decades-long pattern of nepotism casts fresh doubt on Joe Biden’s recent statements that he “never discussed” business with his son, and that his activities posed “no conflicts of interest.” 

    No fewer than three committees in the Republican-controlled Senate have opened probes into potential Biden family conflicts. Investigators are also poring over Treasury Department records that have flagged suspicious activities involving Hunter’s banking transactions and business deals that may be connected to his father’s political influence. 

    U.S. ethics rules require all government officials to avoid even the appearance of a conflict of interest in taking official actions. The Bidens have denied any wrongdoing.

    While most of the attention on Hunter has focused on his dealings in Ukraine and China when his father was in the White House, he also cashed in on cushy jobs and sweetheart deals throughout his dad’s long Senate career, records reveal.

    “Hunter Biden’s Ukraine-China connections are just one element of the Biden corruption story,” said Tom Fitton, president of the Washington-based watchdog group Judicial Watch, who contends Biden used both the Office of the Vice President and the Senate to advance his son’s personal interests.

    In each case, Hunter Biden appeared under-qualified for the positions he obtained. All the while, he was a chronic abuser of alcohol and drugs, including crack cocaine, and has cycled in and out of no fewer than six drug-rehab treatment programs, according to published reports. He’s also been the subject of at least two drug-related investigations by police, one in 1988 and another in 2016,  according to federal records and reports. A third drug investigation resulted in his discharge from the U.S. Navy Reserve in 2014.

    This comprehensive account of Hunter Biden’s “unique career trajectory,” as one former family friend gently put it, was pieced together through interviews with more than a dozen people, several of whom insisted on anonymity to describe private conversations, and after an in-depth examination of public records, including Securities and Exchange Commission filings, court papers, campaign filings, federal lobbying disclosures, and congressional documents.

    Hunter Biden’s resume begins 24 years ago. Here is a rundown of the plum positions he has managed to land since 1996, thanks to his politically connected father and his boosters:

    1996-1998: MBNA Corp.  

    Fresh out of college, credit-card giant MBNA put him on its payroll as “senior vice president” earning more than $100,000 a year, plus an undisclosed signing bonus. Delaware-based MBNA at the time was Biden’s largest donor and lobbying the Delaware senator for bankruptcy reforms that would make it harder for consumers to declare bankruptcy and write off credit-card debt.

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    When Tom Brokaw asked Biden in 2008 about whether his son’s job was a conflict of interest, he snapped “Absolutely not.” It was an answer he’d repeat many times in the future. NBC News/YouTube

    Besides a job for Hunter, bank executives and employees gave generously to Joe Biden’s campaigns – $214,000 total, federal records show – and one top executive even bought Biden’s Wilmington, Del., home for more than $200,000 above the market value, real estate records show. The exec paid top dollar – $1.2 million – for the old house even though it lacked central air conditioning. MBNA also flew Biden and his wife to events and covered their travel costs, disclosure forms show.

    Sen. Biden eventually came through for MBNA by sponsoring and whipping votes in the Senate to pass the Bankruptcy Abuse Prevention Act.

    When NBC News anchor Tom Brokaw asked Biden during the 2008 presidential campaign whether it was wrong “for someone like you in the middle of all this to have your son collecting money from this big credit-card company while you were on the (Senate) floor protecting its interests,” Biden gave an answer he would repeat many times in the future: “Absolutely not,” he snapped, arguing it was completely appropriate and that Hunter deserved the position and generous salary because he graduated from Yale.

    1998-2001: Commerce Department 

    Hunter also capitalized on the family name in 1998 when he joined President Clinton’s agency. In spite of having no experience in the dot-com industry, he was appointed “executive director of e-commerce policy coordination,” pulling down another six-figure salary plus bonuses.

    He landed the job after his father’s longtime campaign manager and lawyer William Oldaker called then-Commerce Secretary William Daley, who’d also worked on Biden’s campaigns, and put in a good word for his son, according to public records. 

    2001-2009: Oldaker, Biden & Belair 

    After Republican President George W. Bush took over the Commerce Department, Hunter left the government and joined Oldaker to open a lobbying shop in Washington, just blocks from Congress, where he gained access to exclusive business and political deals.

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    Robert Skomorucha: Hunter had “a very strong last name that really paid off in terms of our lobbying efforts.” LinkedIn

    Federal disclosure forms show Hunter Biden and his firm billed millions of dollars while lobbying on behalf of a host of hospitals and private colleges and universities, among other clients. In a 2006 disclosure statement submitted to the Senate, Hunter said his clients were “seeking federal appropriations dollars.”

    Hunter won the contract to represent St. Joseph’s University from an old Biden family friend who worked in government relations at the university and proposed he solicit earmarks for one of its programs in Philadelphia. The friend, Robert Skomorucha, remarked in a press interview that Hunter had “a very strong last name that really paid off in terms of our lobbying efforts.”

    These clients, like MBNA, also favored bankruptcy reforms to make it harder for patients and students to discharge debt in bankruptcy filings. At the same time Hunter was operating as a Beltway lobbyist, he was receiving “consulting payments” from his old employer MBNA, which was still courting his father over the bankruptcy reforms.

    In 2007, Hunter also dined with a private prison lobbyist who had business before a Senate Judiciary subcommittee Joe Biden chaired, according to published reports. Senate rules bar members or their staff from having contact with family members who are lobbyists seeking to influence legislation.

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    William Oldaker: Did not just make Hunter a rich lobbyist, but secured him a $1 million loan that went sour. ldaker & Willison

    Hunter’s lawyer-lobbyist firm was embroiled in a conflict-of-interest controversy in 2006 when it was criticized for representing a lobbyist under investigation by the House ethics committee. The lobbyist was still taking payments from his old K street firm while working as a top aide on the House Appropriations Committee. Hunter at the time was lobbying that same committee for earmarks for his clients.

    William Oldaker did not just make Hunter a rich lobbyist. Oldaker also secured a $1 million loan for him through a bank he co-founded, WashingtonFirst, that Hunter sought for an investment scheme, which later went sour.

    Joe Biden deposited hundreds of thousands of dollars in campaign and political action committee donations at WashingtonFirst, while funneling hundreds of thousands in campaign and PAC expenditures to Oldaker, Biden & Belair. Joe Biden’s payments to Hunter’s lobbying firm, including more than $143,000 in 2007 alone, were listed as “legal services” in Federal Election Commission filings. 

    Oldaker did not respond to a request for comment left at his office.

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    National Group: Hunter won earmarks for the University of Delaware and other Biden constituents. thenationalgroup.net

    2003-2005: National Group LLP 

    While serving as a partner at Oldaker, Biden & Belair, Hunter also registered as a lobbyist for National Group, a lobbying-only subsidiary which shared offices with OB&B  and specialized in targeted spending items inserted into legislation known as “earmarks.”

    Hunter represented his father’s alma mater, the University of Delaware, and other Biden constituents and submitted requests to Biden’s office for earmarks benefiting these clients in appropriations bills.

    2006-2007: Paradigm Companies LLC

    In 2005, when Joe Biden was thinking about making another run at the White House, after a 1987 bid that ended in plagiarism charges, his lobbyist son was looking for a new line of work too. 

    In early 2006, Wall Street executive and Biden family friend Anthony Lotito said, Biden’s younger brother, Jim, phoned him on behalf of the senator. He said Biden wanted his youngest son – whom he still called “Honey” – to get out of the lobbying business to avoid allegations of conflicts of interest that might dog Biden’s presidential bid.

    “Biden was concerned with the impact that Hunter’s lobbying activities might have on his expected campaign [and asked his brother to] seek Lotito’s assistance in finding employment for Hunter in a non-lobbying capacity,” according to a January 2007 complaint that Lotito filed in New York state court against Hunter over alleged breach of contract in a related venture. (Jim and Hunter Biden denied such a phone call took place as described.)

    Lotito told the court he agreed to help Hunter as a favor to the senator, who had served on the powerful banking committee. He figured “the financial community might be a good starting place in which to seek out employment on Hunter’s behalf,” the court documents state. But he quickly found that Wall Street had “no interest” in hiring Biden.

    So the Bidens hatched a scheme to buy a hedge fund, “whereby Hunter would then assume a senior executive position with the company.” And Lotito helped broker the deal. Despite having no Wall Street experience, Biden was appointed interim CEO and president of the Paradigm investment fund and given a $1.2 million salary, according to SEC filings. Lotito joined the enterprise as a partner, and agreed to shepherd Hunter, still in his mid-thirties, through his new role in high-finance.

    “Given Hunter Biden’s inexperience in the securities industry,” the complaint states, it was agreed that Lotito would maintain an office at the new holding company’s New York headquarters “in order to assist Biden in discharging his duties as president.”

    After the venture failed, Lotito sued the Bidens for fraud. The Bidens countersued and the two parties settled in 2008. 

    2006-2009: Amtrak

    During this same period, Hunter was appointed vice chairman of the taxpayer-subsidized rail line, thanks to the sponsorship of powerful Democratic Sen. Harry Reid, a political ally of his father.

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    Joe Biden: The “senator from Amtrak” had a son from Amtrak too. Michael Perez/AP for Siemens

    In a 2006 statement submitted to the Senate during his confirmation, Hunter asserted that he was qualified for the Amtrak board because “as a frequent commuter and Amtrak customer for over 30 years, I have literally logged thousands of miles on Amtrak.”

    Amtrak has been a major supporter of Joe Biden, donating to both his Senate and presidential campaigns and even naming a train station after him in Wilmington. In return, Biden has supported taxpayer subsidies for the government railroad throughout his political career.

    In his testimony, Hunter denied his Amtrak appointment pushed conflict-of-interest boundaries. 

    2009- : Rosemont Seneca Partners LLC

    Hunter co-founded the investment firm five months after his father moved into the White House and incorporated it in his father’s home state of Delaware, which has strict corporate secrecy rules.

    At the time, Obama had tapped Vice President Biden to oversee the recovery from the financial crisis. Three weeks after Rosemont was incorporated, Hunter and his partners set up a subsidiary called Rosemont TALF and got $24 million in loans from the federal program known as the Term Asset-Backed Securities Loan Facility. TALF was designed to help bail out banks and auto lenders hit by the crisis.

    Within months, Rosemont had secured a total of $130 million from the program. Some of the government cash was then funneled into an investment fund incorporated in the Cayman Islands, SEC records show. Such offshore accounts are commonly used to evade taxes.

    The move raised ethical flags with government watchdogs who suspected the bailout cash was used to benefit a well-connected insider.

    Other records reveal that another subsidiary created years later – Rosemont Realty – touted to its investors that board adviser Hunter was politically connected. It highlighted in a company prospectus that he was the “son of Vice President Biden.”

    2009-2012: Eudora Global 

    On his resume, Hunter also lists himself as “founder” of yet another investment firm. But Eudora’s articles of incorporation show it was actually set up by a major Biden donor, Jeffrey Cooper, who put Hunter on his board after his father became vice president.

    A self-described “friend of the Biden family,” Cooper also happened to run one of the largest asbestos-litigation firms in the country — SimmonsCooper LLC — and had courted Biden to make it easier to file asbestos lawsuits by defeating tort reforms. As a leader on the Senate Judiciary Committee, Biden had blocked reform of asbestos litigation every time bills reached the Senate floor.

    Cooper’s law firm, which directly lobbied the Delaware senator’s office to kill such bills, donated more than $200,000 to Biden’s campaigns over the years, as well as his Unite Our States PAC, FEC records show. In fact, SimmonsCooper was one of Biden’s biggest donors during his failed 2007-2008 run for president, pumping $53,000 into his campaign.

    The firm also put up $1 million in investment capital to help his son buy out the Paradigm hedge fund as part of the arrangement brokered by another Biden family friend, Lotito, to find non-lobbying work for Hunter.. Thanks in large part to Biden’s effort to kill bills reining in asbestos trial lawyers, SimmonsCooper has hauled in more than $1 billion for alleged asbestos victims. 

    Attempts to reach Cooper for comment were unsuccessful. 

    2009-2016: Boies Schiller Flexner LLP 

    When Joe Biden became Vice President, Hunter landed a high-paying, no-show job at the New York-based law firm, a Democrat shop long tied to the Clintons. Another major Biden donor, the firm gave him the title “of counsel.”

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    Boies Schiller Flexner: Got Fraud charges against Hunter Biden dismissed, then brought him aboard. Boies Schiller Flexner

    Boies Schiller brought Hunter aboard in 2009 after the Bidens hired the firm to defend Hunter against charges he defrauded partners in the Paradigm investment venture. Boies Schiller managed to get the case dismissed.

    In 2014, a corrupt Ukrainian oligarch, who was under investigation and looking to repair his reputation to attract Western investors, started sending large payments to Boies to support Hunter for unspecified work. It’s unclear what Hunter did for the oligarch, who ran the gas giant Burisma, but $283,000 showed up at the same time his father was tapped by Obama to play a central role in overseeing U.S. energy policy in Ukraine.

    Boies Schiller has pumped more than $50,000 into Biden’s campaigns, Federal Election Commission records show.

    2013-2019: BHR Partners

    After Obama named Biden his point man on China policy, Rosemont Seneca set up a joint venture worth $1 billion with the Bank of China called BHR – and Hunter was named vice-chairman and director of the new concern.

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    BHR Partners: Hunter arranged for one of his Chinese partners to shake hands with his father, the vice president. Beijing approved a business license shortly afterward. BHR Partners

    Following in the shadow of his father’s political trajectory, Hunter’s new venture won the first-of-its-kind investment deal with the Chinese government at the same time Biden was jetting to Beijing to meet with top communist leaders. Secret Service records reveal Hunter flew to China on Air Force Two with his father while brokering the December 2013 deal. He arranged for one of his Chinese partners to shake hands with the vice president. BHR was registered 12 days later. Beijing OK’d a business license shortly afterward.

    “No one else had such an arrangement in China,” said Peter Schweizer, president of the Government Accountability Institute.

    Hunter resigned from the board of the Beijing-backed equity firm earlier this year as his father faced growing criticism on the campaign trail over what critics called a glaring conflict of interest. He did not, however, divest his 10% equity stake in the Chinese fund, which is estimated to be worth tens of millions of dollars.

    Schweizer, whose books include “Profiles in Corruption: Abuse of Power by America’s Progressive Elites,” said Biden went “soft” on the Chinese communists so his son could “cash in” on China business deals. Biden insists he did not discuss the venture with his son before, during or after his official visit to Beijing. But others see obvious hypocrisy at play in the Biden family’s self-dealing in notoriously corrupt China.

    “Biden was one of the most vocal champions of anti-corruption efforts in the Obama administration. So when this same Biden takes his son with him to China aboard Air Force Two, and within days Hunter joins the board of an investment advisory firm with stakes in China, it does not matter what father and son discussed,” said Sarah Chayes, author of “Thieves of State: Why Corruption Threatens National Security.” “Joe Biden has enabled this brand of practice.”

    2013-2014: U.S. Navy Reserve

    Hunter was selected for a direct commission as a public affairs officer in a Virginia reserve unit.

    He clearly received special treatment in securing the part-time post. Officers had to issue him two waivers – one for his age and one for a previous drug offense.

    His vice president father swore him in at the White House in a small, private ceremony.

    Barely a year later, authorities booted Hunter from the Navy for cocaine use after he tested positive from a urine test. The reason for his discharge was withheld from the press for several months.

    2014-2019: Burisma Holdings

    The Ukrainian gas giant added Hunter to its board soon after Obama named his father his point man on Ukraine policy, focusing on energy. The company paid his son as much as $83,000 a month, even though he had no energy experience to bring to the table and was required to attend just one board meeting a year. 

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    Golf buddies: White House visitor logs show that Joe Biden met with Hunter’s business partner Devon Archer, far left, on April 16, 2014. Burisma put Archer on its board shortly thereafter, followed by Hunter, far right, the next month. Fox News

    At the time, the vice president was steering U.S. aid to Kiev to help develop its gas fields, which stood to benefit Burisma as the holder of permits to develop natural gas in three of Ukraine’s most lucrative fields. Biden promised Ukrainian officials the US would pump more than $1 billion into their energy industry and economy during a visit to Kiev in late April 2014. He urged leaders to increase the country’s gas supply and to rely on Americans to help them. Less than three weeks later, Burisma appointed his son to the board, after already retaining him for undisclosed services through Boies Schiller.

    Burisma was run by an oligarch, Mykola Zlochevsky, who was under investigation at the time and seeking Western protection from prosecution. In a move observers suspect was intended to send a message to prosecutors, the company sent out a news release in May 2014 claiming, falsely, that Hunter would be in charge of its “legal unit.” Burisma also trumpeted the fact that Hunter was “the son of the current U.S. Vice President Joseph Biden.” 

    Biden’s office was aware Burisma was under investigation. The administration had tried to partner with the gas company through U.S. aid programs, but the outreach project was blocked over corruption concerns lodged by career diplomats.

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    Viktor Shokin, ex-Ukraine prosecutor: “The truth is that I was forced out because I was leading a wide-ranging corruption probe into Burisma, and Joe Biden’s son was a member of the board,” he said in a recent sworn affidavit prepared for a European court. AP Photo/Sergei Chuzavkov, File

    In early 2016, Biden threatened to withhold $1 billion in U.S. loan guarantees if Ukraine did not dismiss the country’s top prosecutor, Viktor Shokin, who was investigating Burisma. “If the prosecutor is not fired,” Biden recalled telling Ukraine’s leader, “you’re not getting the money.”

    Biden’s muscling worked: Shokin was sacked in March 2016.

    The former vice president says he was carrying out official U.S. policy that sought to remove an ineffective prosecutor. But Shokin had raided the home of Burisma’s owner and seized his property.

    In addition, Shokin said that as part of his probe he was making plans to interview Hunter about millions of dollars in fees he and his partners had received from Burisma. He insists he was fired because he refused to close the investigation.

    “The truth is that I was forced out because I was leading a wide-ranging corruption probe into Burisma, and Joe Biden’s son was a member of the board,” Shokin said in a recent sworn affidavit prepared for a European court. “I assume Burisma had the support of Joe Biden because his son was on the board.” He added that the vice president himself had “significant interests” in Burisma.

    The prosecutor who replaced Shokin shut down the Burisma probe within 10 months. Burisma’s founder was also taken off a U.S. government visa ban list.

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    Burisma/Wikimedia

    Biden claims he only learned of his son joining the Burisma board from the news media. But there is evidence Biden had been consulted in advance. White House visitor logs show that Biden met with Hunter’s business partner Devon Archer on April 16, 2014. Burisma put Archer on its board shortly thereafter, followed by Hunter the next month. (Both Archer and Hunter maintain Burisma never came up during the private visit in Biden’s office, which lasted late into the night.) 

    The day after Joe Biden’s meeting with Hunter’s partner in the White House, Burisma executive Vadym Pozharskyi reportedly emailed Hunter to thank him for inviting him to Washington and “giving an opportunity to meet your father and spent[sic] some time together.” The Biden campaign asserts it cannot find a meeting with Pozharskyi on the former vice president’s “schedule,” though it did not deny such a meeting could have taken place. The Ukrainian official mentioned going out for coffee with Hunter on April 17, 2014, which indicated he was physically in D.C. at the time. RCI has not confirmed the authenticity of the April 17 email document, first disclosed by the New York Post after obtaining it from a hard drive allegedly copied from a laptop of Hunter Biden left at a computer repair shop in Wilmington, Del. Pozharskyi did not respond to emails seeking comment.

    Hunter stepped down from Burisma’s board in April 2019, a month before his father announced his White House bid and after critics made an issue of the conflicts his sinecure posed. He has since kept a very low profile. Unlike Trump’s children, Biden’s son is not out on the trail campaigning for him. 

    1,850 Boxes Sealed Until After Election 

    “Hunter Biden had no experience in the field, but he did have a notable connection to the vice president, who publicly has bragged about making clear to the Ukrainians that he alone controlled U.S. aid to the country,” noted Jonathan Turley, a public-interest law professor at George Washington University.

    Retired FBI official I.C. Smith, who led public corruption investigations in Washington and Little Rock, Ark., said both father and son should have known joining Burisma was a bad idea, adding that it gives at least the appearance he was leveraging his name for payoffs from shady clients abroad.

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    I.C. Smith, ex-FBI official: “I would think, given Hunter’s past, the father would have asked more questions.” icsmith.com

    “Clearly he’s led a troubled life and would be the sort of person susceptible to becoming engaged in this sort of rather sordid deal,” Smith said of Hunter.

    “When he said his father asked if the deal was on the up and up and was assured it was, I would think, given Hunter’s past, the father would have asked more questions,” he added.

    Hunter acknowledged in an ABC News interview last year that he lacked experience in both energy and Ukraine, but maintained that Burisma was impressed by other things on his resume.

    “Ironically, Hunter highlighted his work at MBNA and his work on the board of Amtrak as evidence of his qualifications for the Burisma gig,” said Fitton of Judicial Watch. “But both the MBNA and Amtrak jobs, under any sensible analysis, were obvious favors for Joe Biden.”

    Fitton argued that Biden’s claim he never discussed his son’s jobs and business deals rings hollow against the lengthy record of something-for-nothing nepotism.

    “That’s campaign spin,” he said. “Hunter has already admitted to having at least one conversation on the Ukraine issue with Vice President Biden.”

    Biden defenders argue that many relatives of politicians are often involved in government and politics. Ivanka Trump and Don Trump Jr., for instance, have cozy relationships with, or financial stakes in, companies that may benefit from those decisions. They also point out that, while they may look bad, there’s nothing illegal about such arrangements.

    Fitton isn’t so sure. He said Judicial Watch is demanding Obama administration documents related to Hunter’s Ukraine and China deals, as well as other business arrangements potentially monetizing Biden’s political power.

    “We can’t be sure if the arrangements were legal,” he said. “If any payments or jobs were neither ordinary nor customary, there may be legal issues.”

    It’s a federal crime to provide a government benefit or favorable change in policy in exchange for something of personal value. At a minimum, argued former federal prosecutor Andrew McCarthy, Biden “had a conflict of interest with the position his son had” on the Burisma board, noting that at the time, Biden was pushing energy policies that favored the gas giant.

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    The Biden School, part of the University of Delaware, which is keeping a lid on Biden records.  Biden School of Public Policy and Administration

    Not all of Hunter Biden’s critics are coming from the right, either.

    “It’s hard to avoid the conclusion that Hunter’s foreign employers and partners were seeking to leverage Hunter’s relationship with Joe, either by seeking improper influence or to project access to him,” said Robert Weissman, president of Public Citizen, a liberal watchdog group based in Washington. 

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    The Biden Institute: Maggie Haberman, New York Times White House correspondent, was a featured speaker in 2018, according to its website. The University of Delaware holds more than 1,850 boxes of Biden records under seal. Biden Institute/University of Delaware

    While Joe Biden insists “there’s been no indication of any conflict of interest from Ukraine or anywhere else,” Senate investigators are seeking a number of related emails and memos generated during the Obama administration, as well as his 36-year Senate career. That period, spanning from 1973 to 2009, coincides with a large chunk of his son’s resume.

    However, Biden has sealed the bulk of the records at the University of Delaware Library, which refuses to release any of his papers until after the election. It maintains more than 1,850 boxes of Biden records, including his speeches, voting records, position papers and notes from confidential interviews he’s conducted with foreign leaders, among other documents. The papers the university is keeping a lid on could shed light on Biden’s thinking behind foreign policies and controversial bills he sponsored.

    A spokeswoman said the library will not release any of Biden’s papers to the public until they are “properly processed and archived.” Until then, “access is only available with Vice President Biden’s express consent,” she said, while declining to answer whether the university would comply if the Senate subpoenaed documents as part of its investigation of the Bidens.

    The university houses the Biden Institute, which is part of the Joseph R. Biden, Jr. School of Public Policy and Administration.

    Through a lawyer, Hunter maintained he and his father dutifully avoided “conflicts of interest” — or even “the appearance of such conflicts.” In every business pursuit, he asserted, they acted “appropriately and in good faith.”

    However, in a moment of candor during a recent ABC News interview, Hunter confessed: “I don’t think that there’s a lot of things that would have happened in my life if my last name wasn’t Biden,” before adding, “There’s literally nothing my father in some way hasn’t had influence over.” 

    Still, the elder Biden argues it’s the Trump family who has the nepotism problem. In a recent CBS “60 Minutes” interview, he slammed the president for letting his daughter and son-in-law “sit in on Cabinet meetings.”

    “It’s just simply improper because you should make it clear to the American public that everything you’re doing is for them,” he intoned. “For them.” 

  • Indian Army Captures Chinese Soldier Who 'Strayed' Across Ladakh Border
    Indian Army Captures Chinese Soldier Who ‘Strayed’ Across Ladakh Border

    Tyler Durden

    Mon, 10/19/2020 – 22:40

    A Chinese PLA soldier has been apprehended by the Indian Army in the western Himalayan border region of Ladakh on Monday, where both sides have been locked in a fierce border dispute which over the summer broke into hand-to-hand clashes that left at least 20 Indian troops killed. 

    While the Chinese side has kept quiet about it, Indian military officials say the lone Chinese soldier appears to have strayed across the contested border line where thousands on each side have been based amid a military build-up. Indian media is so far widely reporting the soldier is expected to be returned based on official statements.

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    Frontier region of Ladakh, via PTI/New Indian Express

    “The People’s Liberation Army (PLA) soldier was captured in the Demchok area of eastern Ladakh and would be returned after the completion of formalities,” the Indian Army said according to Al Jazeera

    “The PLA soldier has been provided medical assistance including oxygen, food and warm clothes to protect him from the vagaries of extreme altitude and harsh climatic conditions,” the statement said.

    It’s unclear how quickly the soldier is expected to be returned to the Chinese side, but it’s a very rare occurrence, also coming at a moment of continued high tensions.

    China and India have been engaged in military-to-military talks to attempt to return the region to a peaceful status quo amid the border dispute, which reaches back decades. 

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    Via @IndoPac_Info

    Each side has accused the other of violating prior agreements, but for now that talks appear to have kept the peace even as a military build-up on each side has continued.

    However, as of September both sides were witnessed sending additional troops and supplies to the harsh high-altitude region, strongly suggesting the standoff will continue for the long haul.

    When winter hits, all roads leading to the area are blocked, so it appears the rival militaries are digging in for the long harsh winter. 

     

  • Will Your FBI Entrap You?
    Will Your FBI Entrap You?

    Tyler Durden

    Mon, 10/19/2020 – 22:20

    Authored by Angelo Codevilla via AmGreatness.com,

    The FBI-generated indictment of six men on charges of terrorism for planning to kidnap Michigan Governor Gretchen Whitmer has all the earmarks of what has become that corrupt agency’s standard operating procedure.

    Their lawyers are sure to claim they were victims of entrapment. If the case comes to trial, I doubt a jury will convict them.

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    During the eight years I spent supervising the intelligence agencies for the Senate Intelligence Committee, I watched as what had been a clerisy of strait-laced guardians of truth and justice was becoming a bunch of lazy bureaucrats eager to serve the ruling class’ prejudices. 

    No longer doing the hard and dangerous work of investigating deeply connected criminals and subversives such as the Mafia and well-financed, politically supported subversives, the FBI limited its vision to politically correct “profiles,” and started chasing small fry. Easy targets, defended by no one. What’s not to like?

    After 9/11, the FBI spent few years going after very petty Islamists while covering its collective eyes to the work of major sources of trouble, such as the Muslim Brotherhood, the Palestinian Authority, and Saudi Arabia—each beloved by parts of the ruling class. But before and after this period, these profiles more often than not pointed to the ruling class’ favorite enemy: fellow Americans “excessively concerned with their liberties.” 

    The FBI’s method? Place agents among the target group, stoke their sentiments, and lead them to say or do something that could be characterized as a crime, then arrest them and claim credit for foiling a plot. In intelligence lingo, that is provocation. In legal terms, it’s entrapment. By whatever name, this is the work of cheap, dirty cops.

    In the 1950s, the joke was that any meeting of a Communist Party cell in the New York area was likely to consist of two-thirds infiltrators, half from the FBI and the other half from the New York Police Department. But these FBI infiltrators, like those of the Vietnam era in the 1960s and early ’70s, and like those who penetrated organized crime were merely watching. Doing an honest job. They were not provoking or entrapping, not creating something that would never have been there except for their presence.

    Fast forward to our time. The contrast between how the FBI behaves with regard to persons connected to the ruling class and those who are not speaks for itself. The 918 Americans who died in mass suicide in Jonestown Guyana in November 1978 were victims of a cult that had been closely associated with the California Democratic Party. Relatives of the people who were being drawn in had complained to the FBI. But the FBI had refused to keep an eye on the movement, and later officially argued that doing so would have infringed on its political and religious liberties. 

    And yet when the Tea Party movement arose to protest collusion between the Republican and Democratic parties against popular sentiment on a host of political issues, the FBI rushed to infiltrate it.

    Having addressed countless meetings of Tea Parties in Northern California from 2010 to 2012, I experienced this infiltration directly. The audiences were respectful, and asked informative questions. When, occasionally, I got a question that seemed to push me to say something inflammatory, I made it a point to find and speak to the individual who had asked it. Invariably, the person fit a profile with which I had become familiar from my years overseeing the FBI: a man in his late 30s, who had recently moved into the community and worked for a big company, often remotely, and whose echoing of the sentiments surrounding him sounded studied. I would then advise him on how to write his report to headquarters. Generally, the man would walk away.

    In the Michigan case, it seems the FBI had started by monitoring the men’s social media traffic and, on the basis of “excess concern for liberty” (prithee, what is that?) had obtained warrants for wiretaps and had inserted one or more infiltrators. But up to this time, no crime could be alleged—only what the FBI and its local affiliate considered a bad attitude. 

    What exactly was the infiltrator’s role in moving the men from mere talk to incipient, allegedly criminal action? That is going to be the essence of the trial. The FBI will produce recordings made by the infiltrator. When was the device turned on, and when off? To what extent do those intermissions and/or additions made to the recording contribute to the impression that this was a real plot hatched autonomously? 

    The accused will have the government’s and media’s full weights used against them, as would you or I.

    The jury will have to decide whether the FBI was protecting society from sociopaths or whether it is itself sociopathic.

  • DC Lobbyists See Dollar Signs Under Potential Biden Win
    DC Lobbyists See Dollar Signs Under Potential Biden Win

    Tyler Durden

    Mon, 10/19/2020 – 22:00

    DC lobbyists are licking their chops at the prospect of a Biden win in November, as a flood of new regulations means they’ll have their work cut out for them.

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    “There is a huge amount of planning going on in our client base for what this could look like,” according to Holland & Knight LLP lobbyist, Rich Gold. “It’s highly likely the first six months of 2021 are some of the biggest legislative months I will have in my career in terms of things moving.

    Gold represents the American Chemistry Council, education technology provider Zovio, Inc., agriculture giant Corteva and several local governments.

    According to Bloomberg, K Street lobbyists began planning for major changes when polling began to show former Vice President Biden leading President Trump, as well as the possibility that Democrats would regain control of the Senate.

    “Not since 2008, when President George W. Bush was leaving the White House, have lobbyists planned for the possibility of so sweeping a change in Washington’s corridors of power,” writes Bloomberg‘s Jennifer Dlouhy and Ben Brody.

    The presidential race remains tight in key states and the firms remain vigilant for another Trump victory like the one that caught many by surprise in 2016. But they are hedging their bets and increasingly planning around Biden’s polling lead.

    One firm is developing dossiers on potential appointees, selling them to clients under the maxim “people are policy.” Another has created flow charts outlining possible committee leadership changes on Capitol Hill. And at least one group has established a war room to brainstorm strategies for countering policy proposals. –Bloomberg

    One oil lobbyist told Bloomberg on condition of anonymity that the election would be a “rack-and-stack” exercise when it comes to the multitude of actions the Biden administration could undertake, while a Democratic sweep of the Senate has caused many lobbyists to begin cultivating relationships with moderate Democrats, including Jon Tester of Montana, Kyrsten Sinema of Zrizona, and Joe Machin of West Virginia.

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    According to lobbyists interviewed by Bloomberg News, a Biden administration would likely take immediate action on a new COVID-19 relief bill to help stimulate the US economy, along with their healthcare agenda and an increase in the corporate tax rate.

    The stimulus bill alone would generate a whirlwind of activity for corporate interests – such as drugmakers who want to fend off the Trump administration’s efforts to limit drug prices, while the renewable energy industry will be looking for ways to get in on the COVID-19 package to foster clean energy programs.

    “It’s so difficult to play out some of these scenarios here, and as a committed Democrat, I think we’re all still suffering from a little post-traumatic stress from 2016,” said former Al Gore aide and current partner at Mehlman Castagnetti Rosen & Thomas, David Thomas. “Everything comes with qualifiers.”

    The energy industry, meanwhile, will be girding their loins in anticipation that a Biden administration would undo much of the deregulation enacted by the Trump administration.

    Companies are trying to figure out “what do Biden’s first 100 days look like,” and “how do they impact us and how do we begin planning for that, according to longtime energy consultant, Stephen Brown.

    “You can’t just be against everything; it’s what you can be for and how can you be for it,” he added. “That creates a huge internal discussion, not just by company by company but also trade association by trade association.”

    Tony Podesta’s ex-wife, Heather Podesta – a Democratic lobbyist and CEO of lobbying firm Invariant – says that “Sophisticated corporations are in a constant state of re-evaluating their consulting teams, understanding that they’ve got to be nimble and have the best possible folks advising them and representing them in Washington.” Podesta represents Apple, Yelp, PelsiCo and the Business Roundtable.

    “Right now, everybody is in a state of speed dating,” she added.

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    Heather and Tony Podesta

  • Escobar: There Won't Be An Iranian 'October Surprise'
    Escobar: There Won’t Be An Iranian ‘October Surprise’

    Tyler Durden

    Mon, 10/19/2020 – 21:40

    Authored by Pepe Escobar via The Saker blog, originally posted at The Asia Times,

    No Washington-designed “maximum pressure” has been able to derail a crucial milestone this Sunday: the end of the UN arms embargo on Iran, in accordance with UN Security Council 2231, which has endorsed the 2015 JCPOA deal.

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    The JCPOA – or Iran nuclear deal – was unilaterally ditched by the Trump administration. But that, notoriously, did not prevent it from engaging in a massive campaign since April to convince the proverbial “allies” to extend the arms embargo and simultaneously trigger a snapback mechanism, thus re-imposing all UN sanctions on Tehran.

    Foad Izadi, professor of International Studies at Tehran University, summed it all up:

    “The US wanted to overthrow the government in Iran but failed obviously, they wanted to get more concessions out of Iran, but they have not been successful and they actually lost concessions. So the policy of maximum pressure campaign has failed.”

    Under the current US electoral shadow play, no one can tell what happens next. Trump 2 most certainly would turbo-charge “maximum pressure”, while Biden-Harris would go for re-incorporating Washington to the JCPOA. In both options, Persian Gulf oil monarchies are bound to increase the proverbial hysteria about “Iranian aggression”.

    The end of the arms embargo does not imply a renewed arms race in Southwest Asia. The real story is how the Russia-China strategic partnership will be collaborating with their key geostrategic ally. It’s never enough to remember that this Eurasian integration trio is regarded as the top “existential threat” to Washington.

    Tehran patiently waited for October 18. Now it’s free to import a full range of advanced weaponry, especially from Moscow and Beijing.

    Moscow has hinted that as long as Tehran keeps buying Su-30s, Russia is ready to build a production line of these fighter jets for Iran. Tehran is very much interested in producing its own advanced fighters.

    Iran’s own weapons industry is relatively advanced. According to Brigadier General Amir Hatami, Iran is among a select group of nations able to manufacture over 90% of its military equipment – including tanks, armored personnel carriers, radars, boats, submarines, drones, fighter jets and, crucially, land and seaborne cruise missiles with a respective range of 1000 km and 1400 km.

    Professor Mohammad Marandi from the Faculty of Policy Studies at the University of Tehran confirms, “Iran’s military industry is the most advanced in the region and most of its needs are provided by the Ministry of Defense.”

    So yes, Tehran will certainly buy military jets, “but Iranian made drones are the best in the region and they’re improving”, Marandi adds. “There is no urgency, and we don’t know what Iran has up its sleeves. What we see in public is not everything.”

    A classic case of the public face of something that can’t be seen was just offered by the meeting last Sunday in Yunnan province in China, between excellent pals Mohammad Javad Zarif, Iran’s Foreign Minister, and his Chinese counterpart Wang Yi.

    That’s of course part of their own strategic partnership – to be sealed by the now notorious $400 billion, 25-year, trade, investment and energy deal.

    Both China and Iran happen to be encircled by rings of the US Empire of Bases and have been targets of varying, relentless brands of Hybrid War. Needless to add, Zarif and Wang Yi reaffirmed the partnership evolves in direct contrast with US unilateralism. And they must have discussed weapons trade, but there were no leaks.

    Crucially, Wang Yi wants to set up a new dialogue forum “with equal participation of all stakeholders” to deal with important security issues in West Asia. The top precondition for joining the forum is to support the JCPOA, which was always staunchly defended by the Russia-China strategic partnership.

    There won’t be an October Surprise targeting Iran. But then there’s the crucial interregnum between the US presidential election and the inauguration. All bets remain off.

  • Greenwich Home Sales Have Best Quarter "In A Decade" As New York City Exodus Continues
    Greenwich Home Sales Have Best Quarter “In A Decade” As New York City Exodus Continues

    Tyler Durden

    Mon, 10/19/2020 – 21:20

    It looks like the exodus out of the city, first catalyzed by the pandemic and then helped along by Bill De Blasio’s commitment to allow criminals to overtake the city, is continuing at a blistering pace. 

    Home sales in Greenwich had their strongest quarter in “more than a decade” as people looked to escape the city. Single family home purchases were up 70% in Q3 to 311 sales, the most in a 3 month period in records that date back to 2010, per Bloomberg

    According to appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate, the median price of the sales was up 18% to $2.13 million. 

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    Discounts in Greenwich have averaged just 4.4%, the smallest in a decade – and properties are staying on the market for 25% less time than they were a year ago. 

    The suburb had been coming off of a long stretch where home prices were faltering and sales were slowing. But the large estates that had fallen out of favor are now once again in demand. Buyers are once again placing premiums on luxuries like swimming pools and “enough land for socially distant gatherings”, Bloomberg notes.

    Brokerage manager David Haffenreffer said: “With bigger homes, you’ve got the opportunity to have extended family with you, but also more amenities on-site. You can spread out and live that quarantine life in a more-liberated way.”

    The section of town called “Back Country”, which features large properties on large lots, saw the biggest leap in prices. 

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    Scott Durkin, president of Douglas Elliman said: “We couldn’t give Back Country away, it was too far away from downtown.” Now, he says the area has become the “most requested”. 

    And the trend shows no sign of slowing. As of September, there were 172 homes under contract, an almost 100% increase from the year prior. Haffenreffer concluded: “This could last a while. I don’t see what it is that could turn this on its head.”

    1. White House Chief Of Staff Warns Of Potential Lawsuit Against Tech Giants
      White House Chief Of Staff Warns Of Potential Lawsuit Against Tech Giants

      Tyler Durden

      Mon, 10/19/2020 – 21:00

      Authored by Masooma Haq via The Epoch Times,

      White House chief of staff Mark Meadows on Monday suggested that the Trump administration would bring a lawsuit against the social media companies that have recently restricted and blocked news reports about Democratic presidential nominee Joe Biden and his son Hunter.

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      In an interview on “Fox & Friends,” Meadows said that the online platforms try to censor conservatives and suggested that if the story about Joe and Hunter Biden was about President Donald Trump and his family, tech companies would have not blocked the story.

      They have two standards: one for one campaign, one for the other. But I do believe that additional lawsuits will be filed perhaps as early as today to go after that,” Meadows said.

      “Listen, it’s not just the campaigns,” he added. “They’re now starting to censor, actually, reporters. That’s a dangerous place for them to go when they’re the arbiter of what they deem to be the truth.”

      The Chief of Staff’s comments come in the wake of a report by the New York Post alleging to have obtained emails from a laptop belonging to Hunter Biden. Many Democrats have claimed the story is an effort to discredit Joe Biden and an attempt by Russia to help elect Trump. So far, neither of the Bidens have denied the authenticity of the emails.

      The threat of a lawsuit was also prompted by the actions Twitter took to lock Trump’s reelection campaign account last Thursday for trying to share the New York Post story.

      Meadows said he has not received any intelligence suggesting that the Russians were involved in the emails being extracted from Hunter Biden’s laptop as Rep. Adam Schiff (D-Calif.) has alleged.

      “All of this narrative that is out there that would suggest that it’s not real, that’s the disinformation. You know, Adam Schiff came on and said, ‘Oh, this is Russia, Russia, Russia,’ and again, I can tell you this is Adam Schiff once again trying to spin a story that’s not accurate.” Meadows said,

      “I talked to director Ratcliffe over the weekend and I said, ‘Listen, if this is a Russian disinformation campaign, we need to make sure the American people know that.’ His response to me is that he had no knowledge of that.”

      Schiff, who is the chairman of the House intelligence committee, has repeatedly asserted, without evidence, that the Trump 2016 campaign colluded with Russia and now is claiming that Trump is working with Russia to hurt Biden’s campaign.

      “We know that this whole smear on Joe Biden comes from the Kremlin,” the California Democrat said on CNN last week, claiming that “the Kremlin has an obvious interest in denigrating Joe Biden,” and that “they want Donald Trump to win.”

      When Schiff was asked about specific intelligence about the Kremlin’s involvement with disinformation about Biden, the Representative was unable to provide any evidence, saying that the Director of National Intelligence, John Ratcliffe was not “forthcoming” with intelligence.

      “And frankly, we haven’t got much from the intelligence community very recently, which concerns me,” added Schiff.

      Meanwhile, Ratcliffe told Fox News on Monday that there is no intelligence to suggest the Hunter Biden email scandal is led by Russia.

      “It’s funny that some of the people who complain the most about intelligence being politicized are the ones politicizing the intelligence,” Ratcliffe said. “Unfortunately, in this case it is Adam Schiff, who said the intelligence community believes the Hunter Biden laptop and emails on it are part of a Russian disinformation campaign.”

      He continued, Let me be clear: the intelligence community doesn’t believe that, because there is no intelligence that supports that. And we have shared no [such] intelligence with Chairman Schiff or any other member of Congress.”

    2. "Nasdaq Whale" Doubles Down: SoftBank Ups Tech Stock Holdings To $20 Billion
      “Nasdaq Whale” Doubles Down: SoftBank Ups Tech Stock Holdings To $20 Billion

      Tyler Durden

      Mon, 10/19/2020 – 20:49

      One month ago, when we first reported that SoftBank was the “Nasdaq Whale” responsible for the gamma meltup across some of the largest tech names which quickly led to marketwide levitation across the entire stock market – as the Japanese conglomerate was furiously buying call spreads in a generally illiquid market and forcing dealers who were short gamma to delta hedge at ever higher prices creating a upward price feedback loop – we observed that according to Bloomberg’s previous reporting, SoftBank had been targeting investments of approximately $10 billion in public stocks as part of a new asset management arm, far exceeding the initial holdings that founder Masayoshi Son outlined to shareholders in the company’s latest earnings call, and a break from the company’s strategy of investing in private names.

      Then, two weeks ago, the Nasdaq Whale made a repeat appearance, when we reported that SoftBank was back for round two: as SpotGamma wrote, highlighting the strong rally in many tech names “there are notes out detailing large options positions building in tech. Looking at FB as an example you can see how call activity has picked up over the last two weeks” and “this chasm between call & put gamma is starting to look similar to that of early August.”

      This was confirmed that same day by CNBC’s David Faber who said that on Oct 1, SoftBank had bought $200M worth of calls in NFLX, AMZN, FB and GOOGL.

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      But if SoftBank had built up a $10 billion stake in public tech stocks by mid-August, how big was its position now that it appeared to be doubling down? Well, there’s your hint right there: according to a new Bloomberg report, SoftBank has doubled its equity positions to more than $20 billion despite what was initially a skeptical response from shareholders, one which prompted the bank to announce it would not act as a Robinhood-esque hedge fund chasing momentum stocks, and would consider tempering its trading plans in early September after reports that SoftBank’s spending spree was stirring froth in tech stocks.

      Yet despite the news costing SoftBank about $9 billion in market value at the time, with the stock rebounding Masa Son has re-reconsidered and is now literally doubling down. Ironically, all this is happened just days after SoftBank’s Rajeev Misra disputed reports SoftBank had pumped up tech stocks through its options trading, saying no single investor has that kind of influence on the markets.

      “Nobody buying $10 billion of Nasdaq over a few weeks is going to move the Nasdaq,” Misra said in an interview with Bloomberg at the Milken Institute’s virtual conference. “We’re not even a dolphin, forget being a whale.”

      That’s some dolphin. In its public filings, SoftBank disclosed holdings of “only” $3.9 billion in stocks such high beta tech names as Amazon, Alphabet NVidia and Netflix…

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      … however, it has since bought a lot more stocks. Curiously, according to Bloomberg, while focusing on major tech stocks, SoftBank has also been expanding to smaller companies. Last week, it invested $215 million in Norway-based Kahoot, which makes education software.

      So what is SoftBank’s thinking this time behind its “renewed commitment” to the public equities trading arm? According to Bloomberg sources, the strategy – which consists of buying out-of-the-money call options funded by selling calls at even higher prices – is “built around expectations of a volatile third-quarter earnings season.” That, however, makes no sense because SoftBank’s strategy is fundamentally a bullish bet, and anything but a vol hedge. In fact, as August demonstrated, if done in size and if it triggers another gamma melt-up, such call spread buying itself can become the catalyst the pushes stocks higher. And that’s precisely the strategy adopted by Masa Son and implemented by former Deutsche Bank trader Akshay Naheta, first identified here and whom we called the “gamma whale.

      And now that this information is public amid renewed chatter of yet another gamma squeeze, will SoftBank fade away as it did in early September when it was first identified? Hardly: if anything Masa Son will triple down. After all, for the Japanese billionaire, the only thing that matters is SoftBank’s stock price, and that just happened to hit a 20 year high on monday, the highest since the March 2000 dot com boom.

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      In fact, looking at the chart above, it is very likely that Masa Son will aggressively continue to expand this strategy until softbank’s stock price regains it all time bubble highs.

    3. Indian Police Catch Smuggler With 2 Pounds Of Gold Stuffed In His Rectum
      Indian Police Catch Smuggler With 2 Pounds Of Gold Stuffed In His Rectum

      Tyler Durden

      Mon, 10/19/2020 – 20:40

      A man flying in from Dubai was caught trying to enter the Indian city of Kerala with nearly 1 kilogram (roughly 2.2 pounds) in gold bullion hidden inside his rectum. The man arrived at Kerala’s Kannur airport on a GoAir flight from Dubai.

      According to the National Journal, airport intelligence officers spotted the man waddling through the airport and decided he looked suspicious. After executing a search, they soon found 972 grams of flattened gold coins inside the man’s rectum.

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      Another passenger on the same flight in from Dubai was caught trying to smuggle roughly 1.5 kilos, though the report didn’t provide any details on his situation.

      The following day, the customs office seized 386g of gold from a passenger who landed in the coastal city of Kozhikode on an Air Arabia flight from Sharjah, another city in the UAE.

      Local officials said the gold was hidden in the traveler’s underwear in an attempt to avoid declaring it.

      Indian police have reported a surge in criminal gangs trying to smuggle gold into the country in recent months, presumably as India’s punishing COVID-19 lockdown ravaged the country’s economy. Customs officials said smugglers returning to India typically mask the gold in chocolate boxes, purses, umbrellas or even in pens in attempts to try and evade taxes.

      UAE and Indian officials said they were working to trace the crime syndicate.

      Gold prices have surged in 2020 as central banks unleashed a flood of liquidity to try and help mitigate the economic fallout of the lockdowns that rattled the global economy earlier this year.

      Of course, gold smuggling isn’t only a problem in India, where the precious metal has important cultural significance and a major role in weddings.

    4. Democrat-Run Chicago Broke As Mayor Mulls Tax Hikes & Layoffs To Plug $1.2BN Budget Gap
      Democrat-Run Chicago Broke As Mayor Mulls Tax Hikes & Layoffs To Plug $1.2BN Budget Gap

      Tyler Durden

      Mon, 10/19/2020 – 20:20

      In a sign of where the entire country could soon find itself, the Democrat-run city of Chicago isn’t just facing soaring violent crime, but is staring down a whopping $1.2 billion budget deficit, the Chicago Tribune reports.

      Naturally the response to what some are already excusing as the city’s “coronavirus-fueled budget deficit” is for Mayor Lori Lightfoot to immediately talk massive tax hikes to plug the hole.

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      Mayor of Chicago Lori Lightfoot, via Chicago Sun-Times

      “Chicago Mayor Lori Lightfoot is considering a $94 million property tax increase, layoffs for more than 300 city workers and a gas tax hike as part of her plan to close a $1.2 billion budget deficit, sources told the Tribune,” the report says.

      She’s expected to present her plan on Wednesday, which is according to a summary in Fox and Chicago Tribune to additionally include:

      • a five-day furlough for all nonunion city employees 
      • shifting some costs onto the books of the Chicago Public Schools  
      • …including asking Chicago Public Schools to reimburse city for $40 million more in school pension contributions
      • raising the cloud-computing tax
      • up to 350 layoffs of civic employees
      • possible $77 million in cuts to unfilled positions, or more than 1,000 vacancies

      The problems have been building for years, given already the city was strapped with $46.5 billion in unpaid bills and only a reported $10 billion cash on hand, based on a damning review of the city’s finances released this summer by Truth in Accounting.

      Figures as of July 2020:

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      Trump and other Republican leaders have lately seized on rampant mismanagement on display in Democrat-run cities, in some instances with the president personally calling out “wacky” mayors, such as recently with Portland.

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      Let’s hope the proposed layoffs and furloughs of city employees don’t cut into the already understaffed police force, given that as things currently stand law enforcement clearly can’t get the soaring violent crime and murder rate under control, also at a moment far-Left activists have demanded the disbanding of the police.

      Progressive activists have claimed the problem is the opposite – that Chicago PD currently takes too big a cut of the city’s budget and resources. 

    5. Commission Changes Rules To Mute Microphones During Next Debate; Trump "Remains Committed" To Debate
      Commission Changes Rules To Mute Microphones During Next Debate; Trump “Remains Committed” To Debate

      Tyler Durden

      Mon, 10/19/2020 – 20:00

      Update (2050ET): According to the Trump Campaign, the president remains committed to the debate, regardless of the rule change.

      Trump campaign statement on debate commission rule changes

      “President Trump is committed to debating Joe Biden regardless of last minute rule changes from the biased commission in their latest attempt to provide advantage to their favored candidate.

      This was supposed to be the foreign policy debate, so the President still looks forward to forcing Biden to answer the number one relevant question of whether he’s been compromised by the Communist Party of China.

      Why did Biden allow his son Hunter to sell access to him while he was vice president, and why were there Chinese payment arrangements for Joe himself worked out by Hunter and his sketchy partners?

      If the media won’t ask Joe Biden these questions, the President will, and there will be no escape for Biden.”

      – Bill Stepien, Trump 2020 campaign manager

      With Biden ‘hunkering down’ to prepare, while Trump does 3 rallies a day, Thursday’s debate is going to be must-watch TV.

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      Update (1955ET): Just as was suspected by the Trump campaign earlier, the completely non-partisan Debate Commission has decide to not only drop ‘Foreign Policy’ from the topics for discussion during Thursday’s debate but AP has now confirmed that the mics of the two candidates will be muted in order to allow two minutes of uninterrupted time per debate segment.

      Full Statement from the Debate Commission:

      Following the first presidential debate in Cleveland on September 29th, the Commission on Presidential Debates issued a statement that “additional structure should be added to the format of the remaining debates in order to ensure a more orderly discussion of the issues.”

      Since then, the Commission has considered the opinion of many who expressed concern that the debate fell short of expectations, depriving voters of the opportunity to be informed of the candidates’ positions on the issues. They advocated a variety of changes that could be introduced for subsequent debates, including the turning off of microphones to avoid interruptions.

      In considering this issue, the Commission is mindful of the distinction between enforcing rules already agreed upon by the candidates and making changes to the rules. The Commission has determined that it is appropriate to adopt measures intended to promote adherence to agreed upon rules and inappropriate to make changes to those rules.

      Under the agreed upon debate rules, each candidate is to have two minutes of uninterrupted time to make remarks at the beginning of each 15 minute segment of the debate. These remarks are to be followed by a period of open discussion. Both campaigns this week again reaffirmed their agreement to the two-minute, uninterrupted rule.

      The Commission is announcing today that in order to enforce this agreed upon rule, the only candidate whose microphone will be open during these two-minute periods is the candidate who has the floor under the rules.

      For the balance of each segment, which by design is intended to be dedicated to open discussion, both candidates’ microphones will be open.

      During the times dedicated for open discussion, it is the hope of the Commission that the candidates will be respectful of each other’s time, which will advance civil discourse for the benefit of the viewing public. As in the past, the moderator will apportion roughly equal amounts of time between the two speakers over the course of the 90 minutes. Time taken up during any interruptions will be returned to the other candidate.

      We realize, after discussions with both campaigns, that neither campaign may be totally satisfied with the measures announced today. One may think they go too far, and one may think they do with the measures announced today. One may think they go too far, and one may think they do not go far enough. We are comfortable that these actions strike the right balance and that they are in the interest of the American people, for whom these debates are held.

      We can only imagine how fast the mic will be ‘accidentally’ cut should President Trump decide to ask Biden about Hunter’s laptop.

      This seemed to sum things up rather succinctly…

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      We look forward to President Trump’s response to this blatant attempt to rig the debate. Perhaps this is why they feel the need to ‘adjust’ the rules…

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      The Commission on Presidential Debates is meeting Monday afternoon to discuss potential rule changes for Thursday’s debate between President Trump and Joe Biden, according to CNN.

      We are going to consider what changes we are going to make with regards to the debate on Thursday night,” said one commission member, who added that there is also a chance that no changes will be made.

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      The Commission announced in late September that it would explore changes ‘to ensure a more orderly discussion’ following a heated first debate between Trump and Biden.

      According to Trump campaign adviser Jason Miller, the commission may allow producers to “turn off the president’s microphone whenever they want to, which again would be a gross violation of what we agreed to initially.”

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      Meanwhile, in the wake of the Hunter Biden laptop revelations – and in what we’re sure is a coincidence, the Debate Commission has decided to ditch foreign policy as a topic for Thursday’s face-off.

      According to Miller, the Debate Commission “changed focus of final debate away from foreign policy so Joe Biden wouldn’t have to answer to being compromised by the Chinese Communist Party, supporting endless wars and sending pallets of cash to Iran.”

      More via The National Pulse

      The National Pulse understands that while “national security” has been included in the list of topics by moderator Kristen Welker, the campaigns had long been discussing the subject being the majority of the debate, rather than regurgitating on issues such as COVID, climate change, and race.

      Those topics were both covered in the first debate, and in the substantive Vice Presidential debate which saw VP Mike Pence emerge unquestionably victorious over a hectoring Kamala Harris.

      The Hunter Biden laptop and e-mails were initially reported by the New York Post last week, triggering a cavalcade of censorship by Big Tech firms, as well as a failure by reputable media outlets to ask Joe Biden about the distressing revelations contained within, such as Hunter’s ties to Ukraine, to Moscow, and to the Chinese Communist Party.

      Speaking to Maria Bartiromo on Fox News on Monday morning, Jason Miller added: “If the moderator doesn’t bring [Hunter Biden’s e-mails] up, I think you’re safe to assume that the President will. Again, these are real simple questions that Joe Biden needs to answer to the American public. And keep in mind this is supposed to be a debate on foreign policy. I know the Debate Commission is trying to move the goal posts yet again and work in a bunch of other issues. We’re going to talk about Biden’s support for endless wars, talk about the piles of cash loaded up with billions of dollars and sent to Iran, and we’re going to talk about all the foreign corruption, the foreign money that’s been coming into the Biden family. If Joe Biden can’t answer these real simple questions, you know he’s running from something.”

      *  *  *

      Meanwhile, the moderator for the third debate, Kristen Welker, has been added to the list of ‘anti-Trump’ debate moderators – with President Trump calling her “terrible and unfair” on Saturday in response to a New York Post article accusing her of having “deep Democrat ties.”

      On Monday, Fox News host Brian Kilmeade called Welker “often the most abrasive, most dismissive, most disrespectful reporter” in White House press briefings.

      Others have noted that she accidentally tipped off Hillary Clinton’s Communications Director Jennifer Palmieri in 2016 about at least one question she was about to ask.

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    6. Trump Announces Sudan's Removal From Terror List, Paving Way For Israel Peace Deal
      Trump Announces Sudan’s Removal From Terror List, Paving Way For Israel Peace Deal

      Tyler Durden

      Mon, 10/19/2020 – 20:00

      President Trump indicated via a Tweet Monday afternoon that he is removing Sudan from the official terror blacklist as the Arab League nation is inching closer toward normalizing ties with Israel.

      The president indicated that Sudan, which has long been on the list based on allegations of providing covert support to Islamic militants that have carried out attacks on Americans, has agreed to set aside $335 million for payments for American victims of terrorism in the region.

      For example, Washington would later blame Sudan in part for funding operations related to the deadly al-Qaeda twin bombings of the US embassies in Kenya and Tanzania in 1998, which had killed 224 people, including 12 Americans. Another 5,000 people were injured in the major attacks. Sudan was known have given safe-haven to Osama bin Laden at one point.

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      This means Sudan is likely to become the third Arab League member state to normalize ties with Israel, after the UAE and Bahrain inked historic, unprecedented agreements to establish peaceful diplomatic relations and economic cooperation. 

      The timing is also crucial, given that just weeks before the Nov.3 election, the White House could tout this as a major foreign policy win.

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      US Secretary of State Mike Pompeo on an official visit to Khartoum, Sudan in August. AFP via Getty Images

      Talks between Sudan and Israel have been underway for some time, but full diplomatic recognition has recently been stalled after Sudan officials accused the US of threatening the country with remaining on the terrorism list if it didn’t accept the normalization deal with Israel. 

      Sudan has been on the State Department’s list going all the way back to 1993, amid the lengthy rule of strongman Omar al-Bashir, who was toppled by Sudanese Army coup d’état in 2019.

      During the post-9/11 ‘war on terror’ Sudan became under even more scrutiny.

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      Israeli Prime Minister Benjamin Netanyahu and Sudanese Governing Council Chairman Abdel Fattah Al-Burhan will are expected to meet in Uganda.

      Concerning the 1998 embassy bombings, Voice of America has recently detailed that “Leading up to the attacks, the Sudanese government harbored the al-Qaeda militants, providing them with Sudanese passports and allowed them to transport weapons and money across the border into Kenya.”

      “Sudan had also given safe haven to Osama Bin Laden leading the U.S. State Department to place the country on a list of state sponsors of terrorism in 1993,” the report underscored.  

    7. Supreme Court Sides With Democrats On Pennsylvania Mail-In Deadline After Justice Roberts Joins Liberals
      Supreme Court Sides With Democrats On Pennsylvania Mail-In Deadline After Justice Roberts Joins Liberals

      Tyler Durden

      Mon, 10/19/2020 – 19:47

      In a decision that could have profound consequences for the outcome of the election, late on Monday the Supreme Court denied a request from Pennsylvania’s Republican Party to shorten the deadlines for mail-in ballots in the state after Chief Justice John Roberts joined liberal justices Sotomayor, Kagan and Breyer to oppose the four conservative justices Thomas, Alito, Kavanaugh and Gorsuch who said they would have granted the application.

      After a Pennsylvania Supreme Court decision had moved the deadline for absentee ballots to be counted from 8 p.m. on Election Day to 5 p.m. the following Friday, Nov. 6, Pennsylvania Republicans and top officials from the state’s GOP-held legislature asked the Supreme Court to the ruling.

      If the U.S. Supreme Court had granted a stay, it would have resulted in a return to the original deadline. However, due to the court’s 4-4 deadlock, the previous decision stays and mail-in ballots can be counted.

      As reported earlier, when discussing the implications of timing when absentee ballots are pre-processed, some states do not allow mail-in ballots to be opened before Election Day which could mean counting delays. This includes a few of the critical swing states – such as PA and WI.

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      And as previously discussed, with a recent WSJ/NBC poll finding that 47% of Biden supporters plan to vote by mail whereas 86% of Trump supporters will vote in person, the ruling is seen as a win for Democrats in the key battleground state, which President Trump won in 2016 by just over 44,000 votes, since Biden voters are considered more likely than Trump supporters to vote by mail in November.

      Finally, as Axios adds, the deadlock underscores the importance for Republicans of confirming Trump’s Supreme Court nominee Amy Coney Barrett, who the president himself has said could be a deciding vote in an election-related dispute, since it is by now clear that Roberts plans on siding with liberals on election-related matters.

    8. "WHAT THE F*CK! IM OUT": Rapper 50 Cent Melts Down Over Biden-Harris Tax Plan, Endorses Trump
      “WHAT THE F*CK! IM OUT”: Rapper 50 Cent Melts Down Over Biden-Harris Tax Plan, Endorses Trump

      Tyler Durden

      Mon, 10/19/2020 – 19:40

      Rapper 50 Cent has taken to Twitter to endorse President Trump after losing his mind over the Biden-Harris tax plan, which would result in a top tax rate of 62% in New York City.

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      WHAT THE F*CK! (VOTE ForTRUMP)  IM OUT,” tweeted the rapper, whose real name is Curtis James Jackson III. “F*CK NEW YORK The KNICKS never win anyway,” he added.

      “I don’t care Trump doesn’t like black people 62% are you out of ya fucking mind.”

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      The New York-based rapper may want to reconsider his opinion of Trump, however – as the president received the NAACP’s Ellis Island Medal of Honor in, while then-Senator Joe Biden worried in 1977 about his children growing up in a ‘racial jungle’ if schools were desegregated, before going on to write the 1994 crime bill which would incarcerate record numbers of blacks for petty crimes.

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      If Biden wins, 50 might want to buy a few more Lamborghinis to stow his cash.

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    9. CNN, New Yorker Suspend Jeffrey Toobin For Masturbating During A Zoom Call
      CNN, New Yorker Suspend Jeffrey Toobin For Masturbating During A Zoom Call

      Tyler Durden

      Mon, 10/19/2020 – 19:39

      Update (1740ET): In a stunning ‘correction’ from Vice, which ratchets this story up to ’11’ on the Spinal Tap amplifier of WTF-ness,

      “This piece has been updated with more detail about the call and the headline has been updated to reflect that Toobin was masturbating.”

      Hey look, we understand, an accidental exposure of a penis could be rubbed off as a one-off, awkward moment but spanking the monkey, that’s a hard one to get over.

      Quite a multitasker!!

      *  *  *

      From the “Not, The Onion” file (which is becoming far too regular in this farcical new normal), legal analyst Jeffrey Toobin has been suspended by CNN and The New Yorker after he exposed himself during a Zoom call last week between members of the New Yorker and WNYC radio.

      “I made an embarrassingly stupid mistake, believing I was off-camera,” Mr. Toobin said in a statement to Vice, which reported the incident and the magazine’s investigation.

      “I apologize to my wife, family, friends and co-workers.”

      “I believed I was not visible on Zoom,” Mr. Toobin said of the call, which Vice, citing unnamed sources, said took place last week.

      “I thought no one on the Zoom call could see me. I thought I had muted the Zoom video.” Mr. Toobin could not be immediately reached on Monday afternoon.

      Natalie Raabe, a spokesperson for the New Yorker, confirmed that “Toobin has been suspended while we investigate the matter,” Vice reported. 

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      “Generously”, CNN has “granted” Toobin some time off too

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      It appears Mr. Toobin is popular among Canadian Twitterati…

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      Exactly how such an ‘accident’ happens during (or even near) a business Zoom call is unclear, but as the details ‘firm up’, social media erupted in mockery…

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    Digest powered by RSS Digest

    Today’s News 19th October 2020

    • Brazil's Sao Paulo Pushes For Mandatory COVID Vaccinations
      Brazil’s Sao Paulo Pushes For Mandatory COVID Vaccinations

      Tyler Durden

      Mon, 10/19/2020 – 02:45

      In September, Brazil’s wealthiest and most populous state Sao Paulo went into contract with Chinese vaccine developer Sinovac Biotech, with the expectations to receive 46 million doses of CoronaVac. CoronaVac has been in Phase 3 testing in the South American country since July. On Friday, Sao Paulo Governor Joao Doria said if the COVID-19 vaccine is approved by the National Health Regulatory Agency (ANVISA), then mandatory vaccinations would follow, according to the Rio Times

      Doria told reporters Friday, Oct. 16, that: “In Sao Paulo, it will be mandatory, except for those with a medical note and a certificate stating that they cannot [take the vaccine].” 

      Just weeks ago, he told other reporters that Sao Paulo “will be one of the first places in the world to vaccinate the public.” He said his administration has already obtained 6 million CoronaVac doses for potential distribution.  

      Citing local media, RT News said Sao Paulo could have the CoronaVac vaccine approved as early as December. The trials are expected to be wrapped up this weekend, with results expected sometime early next week. 

      Doria has spent the last couple of months blasting President Jair Bolsonaro’s handling of the public health crisis – accusing him of “politicizing” the vaccine.

      Bolsonaro recently responded to Doria’s comments, saying that the Health Ministry will not make vaccination mandatory. Bolsonaro also cited federal laws that determine it’s up to the federal government to decide if vaccinations are mandatory. 

      Bolsonaro, who routinely downplayed the pandemic, and contracted the virus in July, has been widely criticized by Doria and other critics for incompetence. 

      On Saturday, virus-related deaths in the South American country rose 461 to 153,675. Brazil now registers more than 5,224,362 virus cases

      Brazil leads all other BRIC countries in deaths per million inhabitants. 

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      The South American COVID-19 hotspot is Brazil. 

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      Virus cases worldwide, via one-week moving averages, are surging once again.

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      We would suspect, US vaccine makers are not thrilled with China supply COVID-19 vaccines to Brazil. 

    • Bashar al-Assad "Should Have Been Killed" Long Ago: Israeli Military Intel Chief
      Bashar al-Assad “Should Have Been Killed” Long Ago: Israeli Military Intel Chief

      Tyler Durden

      Mon, 10/19/2020 – 02:00

      Via AlMasdarNews.com,

      An Israeli security official told a local newspaper this week that “Tel Aviv is not interested in assassinating the Secretary-General of the Lebanese Hezbollah, Hassan Nasrallah,” stating that “if we wanted to kill him… we would have actually killed him.”

      The head of the Research Division in the Israeli Military Intelligence, Dror Shalom, said that Nasrallah is fully aware that Lebanon will lose if he opens fire on Israel. But he did in a surprising statement express that Syria’s President Bashar al-Assad should have been taken out years ago.

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      Syrian President Bashar al-Assad, file image

      “Iran is the source of unrest and crises in the region directly, through its nuclear project and precision missiles, and through its arms in Lebanon, Syria, Iraq, Yemen and Gaza,” the Israeli security official said in an interview with Elaph newspaper.

      Shalom said that Israel considers Syrian President Bashar al-Assad to be its enemy, considering that “he should have been killed when he used chemical weapons,” as is claimed by Israel and the US.

      The security official’s comments came a week after Syrian President Bashar Al-Assad commented on the prospect of peace talks with Israel.

      The Syrian President told the Sputnik Agency that he is not interested in peace talks until Israel returns the occupied Golan Heights to the Arab Republic.

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      Head of the IDF’s Military Intelligence Research Division Brig. Gen. Dror Shalom

      And separately, Assad also warned that a popular uprising will begin if US and Turkey do not leave Syria. “This is an occupation. In this case, we need to do two things: First, get rid of the pretext that they use for the occupation, that is, the terrorists in this case, ISIS,” he said.

      “Most of the world knows that ISIS was created by the Americans and they support it,” he continued, stating that “therefore, eliminating terrorists in Syria is our top priority, and if the Americans and Turks do not leave after that, then of course, popular resistance will begin and this is the only way.”

      “They will not be forced to leave through discussions or international law because it does not exist,” Assad said. He added that “there is no other way but resistance and this is what happened in Iraq. What drove the Americans to leave in 2007? It was the result of the Iraqi people’s resistance.

    • The Progressivism Of The Future Is Really Just The Socialism Of The Past
      The Progressivism Of The Future Is Really Just The Socialism Of The Past

      Tyler Durden

      Mon, 10/19/2020 – 00:10

      Authored by Anthony Mueller via The Mises Institute,

      The world is currently in the midst of a newly aggressive drive to bring about a new socialist order through a powerful and “efficient” technocratic state. This new order has been labeled as “progressive,” but it is merely the latest version of the socialist impulse which we have seen before in the form of socialism and communism. 

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      A War on Private Property

      Summed up in a single sentence, the plans of the communists aim at the abolition of private property. From there, the other major demands follow, such as abolishing the family, nation, and countries, and finally, as Marx noted, “communism abolishes eternal truths, it abolishes all religion, and all morality.” In as much as the program of liberalism “if condensed into a single word….is private ownership of the means of production” (as described by Ludwig von Mises), the program of the communists is the abolition of private property.

      A Promise of Efficiency and Expertise

      Yet Marxian socialism—i.e., communism—has not found many followers in the United States. The communist appeal to justice and equality found more resonance in the old world. To have an appeal to the Americans, socialism had to be packaged differently. In the United States, the gospel of socialism appeared under the name of “progressivism” and was preached as bringing society to the highest degree of efficiency.

      Under President Woodrow Wilson, progressivism attained its first peak as the dominant philosophy of the state. Society was to these socialists a single organization. The bureaucrats as public administrators found a vivid expression in the political novel Philip Dru: Administrator: A Story of Tomorrow by Edward Mandell House, who was a very close friend of Wilson and who served as the president’s most important political and diplomatic advisor.

      This vision of progressivism requires:

      • Government and labor representation on the board of every corporation

      • Sharing the profits of public service companies

      • Government ownership of the means of communication

      • Government ownership of the means of transportation

      • A comprehensive system of old age pension

      • Government ownership of all healthcare

      • Full labor protection and governmental arbitration of industrial disputes

      Beyond that, other demands and programs put forth and realized by the progressive movement have included eugenics, population and birth controlfamily planningprohibitionantitrust legislationpublic educationcentral banking, and an income tax.

      These echo of the planks of the Communist Manifesto, which included demands to

      • Centralize the means of communications and to put the means of transport in the hand of the state

      • Extend the control of the state across the factories and over all land

      • Implement a heavy progressive income tax and abolish the rights of inheritance

      • Centralize credit in the hands of the state and establish a central bank of an exclusive monetary monopoly

      Unlike the Communist Manifesto, the progressives did not preach a proletarian revolution but spoke out in the name of efficiency and demanded the bureaucratic rule of expert public administrators. In a specific way, the progressive movement presents an even worse program than Marxism. As Murray Rothbard summarized it, the progressive movement brought about a profound transformation of the American society:

      from a roughly free and laissez-faire society of the 19th century, when the economy was free, taxes were low, persons were free in their daily lives, and the government was noninterventionist at home and abroad, the new coalition managed in a short time to transform America into a welfare-warfare imperial State, where people’s daily lives were controlled and regulated to a massive degree.

      Socialism in Disguise

      Guiding mankind to heaven on earth by transforming society is the quintessential message of socialism, beginning with the “utopian socialism” of the nineteenth century and leading up to our time with the demand for a “concrete utopia.” Yet different from the Marxist mythology that socialism would be the unstoppable successor of capitalism, history shows that the “socialist phenomenon” has appeared time and again throughout history. Instead of being the model of the future, socialism is, de facto, a failed idea of the past.

      Socialism is the attempt to create a new social order at will. Yet one cannot construct “order” to one’s wishes. The volitional realization of a socioeconomic system results in establishing society as a single state-dominated organization and as such, it is necessarily hierarchical and must be based on command and obedience instead of the free association of the people as it happens in a spontaneous order.

      President Wilson failed in his plan to bring the United States into the League of Nations and establish an organization to promote a new world order in tune with the visions of the progressives. For some time, the Americans resumed the tradition of individualism and isolationism. Yet with the Great Depression and World War II the chance of transforming the society and putting bureaucratic experts at the top came back with a vengeance under the presidency of Franklin Delano Roosevelt. With the end of the world war returned the chance to establish a network of international organizations with the mission of organizing society and the economy under the auspices of bureaucratic experts. This happened with the founding of the United Nations and its several subgroups and sister organizations to become active in finance, education, development, and health.

      The International Push

      With the launch of the United Nations, progressivism as a program of what James Ostrowski calls “destroying America” has attained a global platform. The main seat of this philosophy has moved into the headquarters of the United Nations Organizations. From its start, the United Nations has been the light bearer of global progressivism.

      The protection of the environment and “global health” proved to be the ideal pretexts to move forward the agenda of progressivism. In June 1994, the UN Agenda 2021 was initiated by the United Nations Conference on Environment and Development in Rio de Janeiro and called for the imposition of “sustainable development” on a global scale. While Agenda 2021 was still relatively modest in its demands and nonbinding as to its full execution, the later Agenda 2030 let the cat out of the bag. The new agenda was adopted when the heads of state and government and high representatives met at the United Nations Headquarters in New York in September 2015. At this meeting, they approved the adoption of “Global Sustainable Development Goals” about comprehensive and far-reaching universal and transformative goals and targets.

      The new agenda describes a program of comprehensive government takeover of almost all aspects of personal life. With no nods to human freedom and market coordination, the document lists seventeen goals that should be met through a bureaucratic takeover of society on a worldwide scale. Behind popular promises such as the end of poverty and hunger, healthy lives, equitable education, and gender equality lurks the agenda to impose global socialism. Demands such as the reduction of income inequality within and among countries, sustainable consumption and production patterns, and building inclusive societies for sustainable development, are parts of an overriding plan to do away with the market economy and to impose comprehensive state planning.

      Claiming the “perpetuation of disparities between and within nations, a worsening of poverty, hunger, ill-health and illiteracy, and the continuing deterioration of the ecosystems on which we depend for our well-being” (chapter 1, preamble), the conference calls of a “global partnership for sustainable development.”

      Under the heading of “program areas” the agenda stresses “the links between demographic trends and factors and sustainable development.” The growth of the world population combined with “unsustainable consumption patterns” endangers the planet, as they “affect the use of land, water, air, energy and other resources.” Under point 5.17 of its objective, the conference demands: “Full integration of population concerns into national planning, policy and decision-making processes.” Protecting the environment requires the comprehensive regulation of the world population which in turn makes it necessary to control personal behavior.

      In short, the adoption of this “new world order” would mean the abolition of private property, or what Mises regarded as the liberal program—a world based on private property. If enacted, this project will fail in the end, but it will bring immense suffering in the meantime.

    • As UN Arms Embargo Expires, Iran Celebrates "Clear Reality" Of US Defeat
      As UN Arms Embargo Expires, Iran Celebrates “Clear Reality” Of US Defeat

      Tyler Durden

      Sun, 10/18/2020 – 23:45

      Today the United Nations weapons embargo on Iran expires which has been in effect for 13 years but was negotiated to end on Oct.18 as a key stipulation of the 2015 nuclear deal (JCPOA) brokered under Obama. The Trump administration has tried to fight the expiration of the embargo tooth and nail while claiming authority to enact snap back sanctions.

      Iranian officials on Sunday hailed it as a “clear reality” of the defeat of the US on this front, with the ambassador to to the UK quoted in state-run IRNA saying, “Today the international community once again expressed support for multilateralism and openly opposed to the U.S. attempt to prevent the implementation of one of the significant achievements of international diplomacy.” 

      He underscored that “The US has been defeated in its diplomacy and this is a clear reality.”

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      Weaponry exhibition in Tehran, via AFP

      Iranian Foreign Minister Javad Zarif also celebrated the ‘victory’. He said on Twitter it was a “momentous day” as it marks the “normalization” of Iran’s defense cooperation with the world.

      “A momentous day for the international community, which— in defiance of malign US efforts—has protected UNSC Res. 2231 and JCPOA,” Zarif wrote in a Twitter post.

      “Today’s normalization of Iran’s defense cooperation with the world is a win for the cause of multilateralism and peace and security in our region,” he said.

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      Secretary of State Mike Pompeo of course was quick to assert this is not the reality, telling Newsweek the US stands ready to act with swift retribution against any country poised to transfer arms to Iran:

      “The United States is prepared to use its domestic authorities to sanction any individual or entity that materially contributes to the supply, sale, or transfer of conventional arms to or from Iran, as well as those who provide technical training, financial support and services, and other assistance related to these arms,” he said.

      In the past months both Russia and China have strongly hinted that they’ll be among the first to do weapons deals with Iran.

      Given the poor state of relations between the US and both these countries, which can be argued has reached a low point in recent history with both, there appears little leverage that Washington has at this point to prevent such transfers from these two major powers eager to show their cooperative defiance. 

    • The Chinese Lockdown-And-Mask Model Failed. Now Its Proponents Need Scapegoats
      The Chinese Lockdown-And-Mask Model Failed. Now Its Proponents Need Scapegoats

      Tyler Durden

      Sun, 10/18/2020 – 23:20

      Authored by Daniel Greenfield via DanielGreenfield.org,

      The problem isn’t just the China Virus. It’s that we adopted the China Model to fight it.

      Public health experts adopted China’s draconian lockdowns without knowing how well they really worked and in a country that, fortunately, lacks the power to truly enforce them.

      China’s deceptiveness and lack of transparency meant that we did not know how well anything that the Communist dictatorship did to battle the virus that it spawned actually worked. Despite that, our public health experts, and those of most free countries, adopted the China Model.

      We don’t know how well the China Model worked for the People’s Republic of China, but it failed in every free country that tried it. Lockdowns eventually gave way to reopenings and new waves of infection. This was always going to happen because not even the more socialist European countries have the police state or the compliant populations of a Communist dictatorship.

      Desperate, the public health experts adopted China’s compulsive mask wearing, a cultural practice that predates the virus, as if wearing a few flimsy scraps of fiber would fix everything.

      It hadn’t and it didn’t.

      But by then the public health experts and the media that had touted them were moving fully into the scapegoat portion of the crisis. The China Model had failed, all that was left was shifting the blame to more conservative and traditional populations, and away from the cultural elites.

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      In New York City that meant falsely blaming Chassidic Jews for the second wave. From Maine to San Francisco, Democrat leaders and their media blamed conservative Christian gatherings. Their national counterparts loudly blamed President Trump for not wearing a mask all the time.

      A New York Times headline captured the cynical broad spectrum cultural scapegoating with, “N.Y.C. Threatens Orthodox Jewish Areas on Virus, but Trump’s Impact Is Seen.”

      The uncomfortable truth was that the lockdowns had failed economically, socially, and medically.

      Even blue states and cities were no longer able to carry the impossible economic burden much longer. The Black Lives Matter riots and the onset of summer broke the #StayHome taboos, and medically, the lockdowns had been useless efforts to meet a fake crisis of hospital overflows.

      America, like too many other countries, put the experts in charge and they failed. Miserably.

      Democrats claimed that they were superior because they were “listening to the science”. They weren’t listening to the science, which is not an oracle and does not give interviews. Instead, they were obeying a class of officials, some of them whom weren’t even medical professionals, who impressed elected officials and the public with statistical sleight of hand. And little else.

      The entire lockdown to testing to reopening pipeline that we adopted wholesale was a typical bureaucratic and corporate exercise, complete with the illusion of metrics and goals, that suffered from all the typical problems of bureaucracy, academia, and corporate culture.

      The system that determines reopenings and closings is an echo chamber that measures its own functioning while having little to do with the real world. Testing has become a cargo cult exercise that confuses the map with the world, and the virus with the spreadsheet. It gamifies fighting the pandemic while dragging entire countries into an imaginary world based on its invented rules.

      When the media reports a rise or decrease in positive tests, it’s treated as if it’s an assessment of the virus, rather than an incomplete data point that measures its own measurements.

      The daily coronavirus reports have become the equivalent of Soviet harvest reports. They sound impressive, mean absolutely nothing, and are the pet obsession of a bureaucracy that not only has no understanding of the problem, but its grip on power has made it the problem.

      The smarter medical professionals understand that the theories have failed, while the administrators who put the theories into practice confused their system with science. The politicians listen to the administrators and when they tell us to trust the science, they mean the bureaucracy. The medical professionals can’t and won’t backtrack now. It’s too late.

      The best and brightest spent the worst part of a year shuffling rationales like a gambler’s trick deck, wrecked the economy, and sent tens of thousands of infected patients into nursing homes to infect the residents, accounting for at least a third of the national coronavirus death toll.

      Like most national leadership disasters, it was a combination of misjudgement, understandable mistakes, tragic errors, and acts of incomprehensible stupidity or unmitigated evil.

      A lot of people are dead, a lot more are out of work, and the problem is far from solved. Someone will have to be blamed and they certainly don’t want it to be themselves.

      The lockdown and the rule of the public health experts has become too big to fail.

      Mistakes were made, as the saying goes. Projections were built based on bad and incomplete data. Everyone followed the path of least resistance by doing what China had done. And everyone in the system, from the experts to the administrators to the politicians to the media, is complicit. That makes the massive error the world has been living under too big to fail.

      There are only two choices left. Admit the magnitude of the mistake or find someone to blame.

      The establishment that touted the experts is blaming its political and cultural enemies, the people it has been priming the public to see as strange, selfish, irrational, and dangerous. And also the very people who have been the loudest opponents of lockdown culture.

      Given a choice between admitting the system was wrong or blaming the system’s failure on its critics, the establishment has followed the same pattern as every authoritarian leftist regime.

      The lockdowns didn’t fail, they were failed by conservative Christians and Jews, by President Trump, by people who were too selfish to give up their lives, businesses, and religion for the greater good. And if only they had, the coronavirus would be gone and everything would be fine.

      The China Model promised something that its proponents quickly knew it couldn’t deliver. Everything since then has been a scam to cover up the original quackery and hackery. The louder they blame critics and dissenters for the failure, the more obvious the coverup becomes.

      Lockdown culture needs patsies to take the fall for why it didn’t work. Like every leftist social and economic experiment, its defenders are left to argue that it was never properly tried. If only it weren’t for Trump, and for the dissenters, for the Chassidic Jews in Brooklyn, for Christian weddings in San Francisco and Maine, for gyms, bars, and beaches, it would have worked.

      Yet the simple truth is that the China Model hasn’t worked in any country that isn’t China.

      It doesn’t matter who the leader or the ruling party are, whether the public wore or didn’t wear masks, the resurgence is not a political phenomenon, science doesn’t speak, and the virus doesn’t listen. But of all the countries in the world, America was especially ill-fitted to adopt an authoritarian public health model. The sheer size, openness, and diversity of the country makes us unique and should have made it abundantly obvious that no such system would work.

      Anyone but an expert or administrator would have understood that these plans were doomed.

      But what the system failed to accomplish in battling the virus, it made up for by providing the leadership that had enacted it with a wonderful opportunity to settle its political scores.

      The lockdowns don’t exist anymore as a prophylactic policy, but as a political vendetta. The more people die, the more businesses are ruined, the more everyone suffers, the more vicious the vendetta grows as it hunts for scapegoats, political and religious, for the great error of terror.

      Leftist regimes turn to political terror as their policies fail. When the idealism dies, and the theories fall apart, the organizers pursue misery for the sake of misery, using fear, deprivation, and hate to maintain their grip on power while crushing the political threats to their rule.

      The rule of the experts isn’t fighting the virus. It has become the virus.

    • Fukushima To Dump 1 Million Tons Of Radioactive Water Into Pacific
      Fukushima To Dump 1 Million Tons Of Radioactive Water Into Pacific

      Tyler Durden

      Sun, 10/18/2020 – 22:55

      Tokyo Electric Power’s Fukushima Daiichi Nuclear Power Station is expected to release more than one million tonnes of treated radioactive water from the destroyed nuclear power plant into the ocean after the 2021 Tokyo Olympic Games, according to the Asian Nikkei Review

      More than one thousand storage tanks at the Fukushima Daiichi site are lining the property and store upwards of 1.23 million tonnes of treated radioactive water. In recent years, we’ve pointed out (see: here & here) how storage tank capacity has been running out and battles fume over the prospects of releasing the tainted water. 

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      The water in question has had radioactive isotopes removed through a complex filtration process – except for tritium. Even with existing technology, tritium cannot be removed. In large quantities, the tritium-mixed water could pose severe risks for wildlife and humans. The expected release would occur after 2022. 

      The decision to end several years of debate over releasing the tritium-mixed water appears to be coming to an end. But, in 2019, South Korea raised concerns to the International Atomic Energy Agency about the planned release. 

      Earlier this year, a Japanese government panel contemplated multiple release strategies: the first was to dump the tritium-mixed water into the ocean; the second was to allow the water to evaporate. The decision appears to be a controlled release into the Pacific Ocean. 

      Chief Cabinet Secretary Katsunobu Kato said Friday, without commenting directly on Fukushima’s planned release of treated radioactive water, that: 

      “We can’t postpone a decision on the plan to deal with the… processed water, to prevent delays in the decommission work of the Fukushima Daiichi nuclear power plant,” Kato said. 

      Environmental activists have not been thrilled with the upcoming release. Fisherman, farmers, and ordinary citizens have voiced concerns that releasing the tainted water could trigger an “environmental shock” and damage the surrounding ecosystem.  

      Nikkei notes, upon release, the tritium-mixed water would be “diluted up to about 600 times by uncontaminated water. The released water would then be well within international standards.” 

      Fukushima’s increasing nuclear waste dilemma was seen in 2014, when Tokyo Electric Power dumped hundreds of tonnes of radioactive water stored at the nuclear facility directly into the Pacific.

      Fukushima’s nuclear waste dilemma is an eye-opener for nuclear energy being touted as a “promising form of energy production for a decarbonizing global economy,” noted Oilprice.com.

      Readers may recall that Bill Gates’ nuclear power energy venture has proposed constructing miniature nuclear power stations across major metro areas to develop carbon-free electricity. 

      A decarbonizing global economy sounds great until the growing nuclear waste dilemma arises. 

    • "Americans Must Wake Up To The Ugly Reality" – China Is Now The World's Largest Economy
      “Americans Must Wake Up To The Ugly Reality” – China Is Now The World’s Largest Economy

      Tyler Durden

      Sun, 10/18/2020 – 22:30

      Authored by Graham Allison via NationalInterest.org,

      China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion). Why can’t we admit reality? What does this mean?

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      This week, the IMF presented its 2020 World Economic Outlook providing an overview of the global economy and the challenges ahead. The most inconvenient fact in the Report is one Americans don’t want to hear—and even when they read it, refuse to accept: China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion).

      Despite this unambiguous statement from the two most authoritative sources, most of the mainstream press—with the exception of The Economist—continue reporting that the U.S. economy is No. 1. So, what’s going on?

      Obviously, measuring the size of a nation’s economy is more complicated than it might appear. In addition to collecting data, it requires selecting a proper yardstick. Traditionally, economists have used a metric called MER (market exchange rates) to calculate GDP. The U.S. economy is taken as the baseline—reflecting the fact that when this method was developed in the years after World War II, the U.S. accounted for almost half of global GDP. For other nations’ economies, this method adds up all goods and services produced by their economy in their own currency and then converts that total into U.S. dollars at the current “market exchange rate.” For 2020, the value of all goods and services produced in China is projected to be 102 trillion yuan. Converted to U.S. dollars at a market rate of 7 yuan to 1 dollar, China will have an MER GDP of $14.6 trillion versus the U.S. GDP of $20.8 trillion.

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      But this comparison assumes that 7 yuan buy the same amount of goods in China as $1 does in the U.S. And obviously, that’s not the case. To make this point easier to understand, The Economist Magazine created the “Big Mac Index” from which the graph at the top of this piece is derived. As this index shows, for 21 yuan, a Chinese consumer can buy an entire Big Mac in Beijing. If he converted those yuan at the current exchange rate, he would have $3, which will only buy half a Big Mac in the U.S. In other words, when buying most products from burgers and smartphones, to missiles and naval bases, the Chinese get almost twice as much bang for each buck.

      Recognizing this reality, over the past decade, the CIA and the IMF have developed a more appropriate yardstick for comparing national economies, which is called PPP (purchasing power parity).

      As the IMF Report explains, PPP “eliminates differences in price levels between economies” and thus compares national economies in terms of how much each nation can buy with its own currency at the prices items sell for there. While MER answers how much Chinese would get at American prices, PPP answers how much Chinese do get at Chinese prices.

      If the Chinese converted their yuan to dollars, bought Big Macs in the U.S., and took them home on the plane to China to consume them, comparing the Chinese and U.S. economies using the MER yardstick would be appropriate. But instead, they buy them at one of the 3300 McDonald’s locations in their home country where they cost half what Americans pay.

      Explaining its decision to switch from MER to PPP in its annual assessment of national economies—which is available online in the CIA Factbook—the CIA noted that “GDP at the official exchange rate [MER GDP] substantially understates the actual level of China’s output vis-a-vis the rest of the world.” Thus, in its view, PPP “provides the best available starting point for comparisons of economic strength and wellbeing between economies.” The IMF adds further that “market rates are more volatile and using them can produce quite large swings in aggregate measures of growth even when growth rates in individual countries are stable.”

      In sum, while the yardstick most Americans are accustomed to still shows that the Chinese economy is one-third smaller than the U.S., when one recognizes the fact that $1 buys nearly twice as much in China than in the U.S., the Chinese economy today is one-sixth larger than the U.S. economy.

      So what? If this were simply a contest for bragging rights, picking a measuring rod that allows Americans to feel better about ourselves has a certain logic. But in the real world, a nation’s GDP is the substructure of its global power. Over the past generation, as China has created the largest economy in the world, it has displaced the U.S. as the largest trading partner of nearly every major nation (just last year adding Germany to that list). It has become the manufacturing workshop of the world, including for face masks and other protective equipment as we are now seeing in the coronavirus crisis. Thanks to double-digit growth in its defense budget, its military forces have steadily shifted the seesaw of power in potential regional conflicts, in particular over Taiwan. And this year, China will surpass the U.S. in R&D spending, leading the U.S. to a “tipping point in R&D” and future competitiveness.

      For the U.S. to meet the China challenge, Americans must wake up to the ugly fact: China has already passed us in the race to be the No. 1 economy in the world. Moreover, in 2020, China will be the only major economy that records positive growth: the only economy that will be bigger at the end of the year than it was when the year began. The consequences for American security are not difficult to predict. Diverging economic growth will embolden an ever more assertive geopolitical player on the world stage.

    • China Q3 GDP Disappoints, Retail Sales Signal Domestic Rebound Alive
      China Q3 GDP Disappoints, Retail Sales Signal Domestic Rebound Alive

      Tyler Durden

      Sun, 10/18/2020 – 22:11

      With China’s yuan pushing back to 27-month highs, the market has already confidently expressed its view that China will show the world tonight the recovery from COVID-19 is more than possible, as the rest of the world – which appears to be following the same mask-and-lockdown protocols that China did – are struggling with new lockdowns.

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      Source: Bloomberg

      GDP is expected to print a healthy +5.5% YoY for Q3 helped by an unexpectedly strong rebound in global trade.

      “Right now, China has basically put Covid-19 under control,” People’s Bank of China Governor Yi Gang said on Sunday in a webinar organized by the Group of 30.

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      Source: Bloomberg

      “In general, the Chinese economy remains resilient with great potential. Continued recovery is anticipated which will benefit the global economy.”

      China has so far relied on exports and manufacturing (inventory restocking by the rest of the world), but tonight’s industrial production, retail sales, investment, and unemployment will gives a clearer picture of the domestic recovery, as Bloomberg’s chief Asia economist Chang Shu notes that:

      “Improving consumer sentiment and consumption likely also boosted private demand. Leading indicators indicate demand is coming back at a faster pace than production at this stage of the recovery.”

      Simply put, if tonight’s data meets expectations, that’ll mean the world’s second-largest economy – and the first to suffer from the virus shock – will have regained all the ground in growth it lost in the first half.

      Of course, given the lies, deception, and deceit involved with the virus, who knows what to believe in the data? As Bloomberg’s Enda Curran notes, as always, today’s numbers will be greeted by scepticism among those who argue that China’s GDP reading is smoothed for political purposes. Chinese authorities themselves have cracked down on provincial level governments for massaging the numbers. That said, most economists we speak to say the overall trend is clear: the rebound is real even if the numbers have their flaws.

      So… drum roll please… here’s the data:

      • China Q3 GDP YoY MISS +4.9% vs +5.5% exp vs +3.2% prior

      • China Industrial Production September YTD YoY BEAT +1.2% vs +1.0% exp vs +0.4% prior

      • China Retail Sales September YTD YoY BEAT -7.2% vs -7.4% exp vs -8.6% prior (+3.3% YoY)

      • China Fixed Asset Investment September YTD YoY MISS +0.8% vs +0.9% exp vs -0.3% prior

      • China Property Investment YTD YoY BEAT +5.6% vs +5.2% exp vs +4.6% prior

      • China Surveyed Jobless Rate BEAT 5.4% vs 5.5% exp vs 5.6% prior

      So, while the underlying monthly data was better than expected, China Q3 GDP notably missed expectations – something very notable in the oh-so-well-managed Chinese economy…

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      Source: Bloomberg

      Despite the disappointing headline GDP data, everything improved sequentially…

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      Source: Bloomberg

      The strong jump in retail sales (+3.3% YoY) suggests the long-awaited consumer recovery seems to be taking root. A breakdown shows Chinese are spending more on drinks, tobacco and alcohol, medicine, office supplies and food.

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      Source: Bloomberg

      However, Frederic Neumann, co-head of Asia economic research at HSBC Holdings Plc in Hong Kong makes the point that because Beijing doesn’t have the same appetite for borrowing that it did in the years after the financial crisis, its stimulus will have a different impact on the rest of the world this time round.

      “So while China is seemingly holding up the world, once again, the growth impulse it imparts to markets far and wide will fade more quickly this time than during the world’s last big crisis.”

      So, will the world’s growth impulse rotate back to the US (post-election)?

      Furthermore, as the rest of the world hopes exuberantly for a vaccine, Goldman has warned, “It’s even possible that China’s economy could be a net loser from vaccines, as the limited further boost to domestic services activity might be offset by softer goods exports and increased outbound tourism. “

    • Silver & The Epochal Maldistribution Of Wealth
      Silver & The Epochal Maldistribution Of Wealth

      Tyler Durden

      Sun, 10/18/2020 – 22:00

      Authored by Egon von Greyerz via GoldSwitzerland.com,

      The Founding Father and President Thomas Jefferson understood the extreme danger in handing over the issuance of the money to the bankers:

      “The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills, or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.”

      – Thomas Jefferson. (1743-1826).

      If we look at just one example of “depriving the People of their Property” as Jefferson stated, the consequences for the ordinary man are devastating.

      According to Federal Reserve Data, the richest 59 Americans have a wealth of $2 trillion which is the same as the wealth of poorest 50% or 165 million people. If we instead take the richest 1%, their wealth in Q2 2020 is $34 trillion or 17x the poorest 50%.

      MALDISTRIBUTION OF WEALTH

      This maldistribution of wealth leads to extreme poverty as Jefferson said and eventually to social unrest or revolution. This is what we are seeing the beginning of in the US currently.

      Central banks and bankers robbing the poor and favouring the rich whilst destroying the economy and the currency have been the norm in history rather than the exception. I have quoted the Jefferson contemporary, Mayer Amsel Rothschild’s (1744-1812) words numerous times: 

      “Permit me to issue and control the money of a nation and I care not who makes the laws.” 

      Jefferson clearly didn’t appreciate bankers like Rothschild.

      JOHN LAW & JEKYLL ISLAND

      The world is now entering the end of yet another century long era when bankers and central bankers have managed to issue and control the money in an unlimited and immoral manner. But unscrupulous bankers have existed throughout history. John Law in France and his Mississippi Company during the early 1700s comes to mind. He obtained control of the money from King Louis XV, and quickly destroyed the currency and bankrupted a lot of people.

      The plans for a similar coup as Law’s was performed by a number of bankers and the US Treasury Secretary on Jekyll Island in 1910. This is where the idea of the Fed was born as a private bank, owned and controlled by private bankers with the right to issue the nation’s currency.

      THE FED AND THE BANKERS CAN ONLY WIN

      From the banks point of view, the Fed has been the most beautiful construction and much more robust than Law’s bank since it is a century old. As a result of the Fed’s creation, private bankers have not only been in a position to create unlimited wealth for themselves and their friends like hedge funds and private equity companies. But they have also avoided taking any losses. In 2007-09 as the financial system was on the verge of collapse, governments had to absorb $10s of trillions of losses whilst the bankers had their normal major bonuses paid out that year too. The New York Fed was in charge of $29 trillion in bailouts. Congress never approved the bailout funds nor was it aware that they existed!

      Morgan Stanley was one of the biggest recipients of the bailout, receiving $2 trillion. Interestingly, Morgan Stanley’s Hedge Fund Front Point LLC also received Fed support. This was the fund featured in the book and film “The Big Short” (a must read/see). So the Fed was forced to support a hedge fund which was shorting all the banks the Fed was forced to rescue. By the end of 2007 Morgan Stanley’s leverage was nearer 40%. No wonder they had to be saved by the Fed.

      PLUS ÇA CHANGE ….. THE MORE IT CHANGES, THE MORE IT STAYS THE SAME

      Interestingly, the New York Fed is in the same position today and is responsible for handing out funds from a number of lending facilities to rescue many US banks which are in trouble again. As always, the names of the banks receiving support and the amounts are kept confidential.

      On top of the special facilities, the Fed started Repos in September 2019. In January 2020 these Repos had reached $6 trillion. By March the Repos were at $9 trillion. According to a report by the BIS, four large banks and hedge funds were the beneficiaries of the Repo debacle.

      So who are the largest shareholders of the New York Fed? Surprise, surprise, they are the same people that had to be rescued in 2008, Morgan Stanley, Goldman Sachs, JP Morgan Chase, and Citigroup. Incidentally, these banks also have the biggest/riskiest derivative positions of all US banks.

      What a wonderful position to be in. These major banks can take unlimited positions and risk, knowing that as major shareholders of the central bank, they can always rescue themselves at the expense of the government and the taxpayers. And this naturally at no cost to either their own banks and nor to the Fed that they control and own.

      POWER CORRUPTS

      What a marvellous construction, devised by the bankers over a century ago on Jekyll Island. They were the true descendants of Mayer Amschel Rothschild. But they did not just set up a structure so that they could control the money. They also succeeded in conning both congress and the government to hand over control of the whole caboodle to give them ultimate control and power.

      Power corrupts and ultimate power even more so. And corruption eventually leads to the downfall of not just of the perpetrators but of the whole bogus edifice they have created. Unlimited money printing and credit creation will inevitably destroy the currency and the financial system as von Mises said: 

      “There is no means of avoiding the final collapse of a boom brought about by credit expansion….”

      IT IS ALL ABOUT RISK

      The expertise of myself and our company is to analyse and understand risk and come up with solutions to protect wealth. We clearly don’t possess the ability or means to save the world or the financial system. Instead our passion is to advise and assist the people who are interested in preserving or insuring their assets.

      We are now approaching the end of century long chapter in the world economy which will make financial history. Like most eras of excessive debts and spending combined with false markets and fake money, this one will end badly too. But the difference this time is that there is not just one nation or continent which is involved but virtually every country in the world. Thus, we have reached the end of the road and the central bankers’ safety net will not be strong enough as it only consists of worthless fake money.

      The only hope is Deus ex Machina or god from the machine. This was how hopeless situations were rescued in the ancient Greek plays. A figure (god) was lowered onto the stage to solve the insoluble problem. Sadly, I doubt that this will be the case this time.

      (The picture below was made for an article I wrote back in 2011.)

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      WEALTH PRESERVATION

      I have for 18 years, in numerous articles on KWN and on our website – GoldSwitzerland.com – discussed the virtues of wealth preservation in the form of physical gold stored outside the banking system.

      The acceleration of deficits and debts will further speed up money creation on a global scale, never seen before in history. This will lead to a total debasement of all currencies as they decline to their intrinsic value of ZERO. They are already down 97-99% in real terms since 1971 which means measured in gold. The death of the dollar and most major currencies is likely to take place in the next 2-5 years as governments print unlimited amounts.

      Gold is the king of the metals and is the only money which has survived in history. But the crown prince of the precious metals is silver and in the next few years, silver is likely to have the most spectacular surge.

      Silver was $50 in 1980 and again reached that level in 2011. At $25 today, silver is the most incredible bargain of any asset. Just as gold has been money for 5,000 years, silver has during many periods in history been the principal currency. For example the French word Argent means both silver and money.

      SILVER – THE INVESTMENT OF THE DECADE

      Silver is both an industrial as well as precious metal. It is used in many electric and electronic products. Also, the demand for photo-voltaic or solar panels is expected to explode in the next 5-10 years.

      Out of 850 million ounces ($21 billion) of annual mine production, (27,000 tonnes), 66% is for industrial use. With a major increase in production of solar panels, that percentage is likely to grow substantially. As jewellery absorbs 25% of mine production, there is only 10% left for making coins and bars. Scrap silver makes up some of the difference but there is normally an annual shortage of silver.

      As demand for gold increases, silver demand will grow substantially as we have seen in 2020. Silver has always been seen as the poor man’s gold and as gold prices will become too expensive for many investors, they will instead buy silver.

      The gold silver ratio reached almost 130 in April which was an extreme. See chart. It is now down to 77 and likely to initially reach 30 where it was in 2011. Eventually we are likely to see the ratio back to the historical average of 15 or even 10 which the ratio of silver to gold in nature.

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      The consequence the substantial increases in industrial and investment demand will be a major increase in silver prices. My long standing target for gold reaching $10,000 in today’s money will probably be vastly exceeded. But if we assume $10,000 for gold and a gold silver ratio at 15, that would be a silver price of $666.

      Interestingly it says in the bible that King Solomon received 666 talents of gold annually which would be worth $1.4 billion today.

      But if we look at silver adjusted for real inflation based on ShadowStatistics, the $50 high in 1980 would equal to $950 today. So silver at between $600 and $1,000 is not an unrealistic target.

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      So silver has the potential to go up between 24x and 40x from today’s $25 price. A wealth protection asset with such a profit potential must be the investment of the decade.

      This might sound like sensational fantasy targets but that is far from the case. As I have shown, the inflation adjusted price is $950 so these levels are not unrealistic, especially when the supply and demand situation is taken into account.

      But investors must understand that silver is extremely volatile so the corrections will be frightening. Silver is not for the faint hearted.

      Most importantly, silver should be bought for wealth preservation purposes and not for speculation. Therefore it must be held in physical form outside a fragile banking system.

      Grant Williams, Ronni Stoeferle & Egon von Greyerz held the Webinar on Monday Oct 12

    • Not The Onion: Fed Calls For Tougher Regulation To "Prevent Asset Bubbles"
      Not The Onion: Fed Calls For Tougher Regulation To “Prevent Asset Bubbles”

      Tyler Durden

      Sun, 10/18/2020 – 21:35

      After singlehandedly creating the biggest asset bubble in history, where the global economy has avoided collapse (so far) thanks to some $20 trillion in Fed liquidity conduits, monetary stimulus and helicopter money (the Fed is now openly monetizing all the debt the Treasury issues in order to avoid collapse), we seems to have moved into the Onion (or is Babylon Bee) zone, because as the FT reports, senior Fed official are now calling for “tougher financial regulation to prevent the US central bank’s low interest-rate policies from giving rise to excessive risk-taking and asset bubbles in the markets.”

      Yes, because it’s the regulators job to prevent what is the primary and according to many, only consequence of the Fed’s massive monetary generosity. 

      While there are countless metaphors one can use to simplify what is going on here, there best one is that this is identical to a serial arsonists demanding the fire brigade stop slacking and put out his fires, which are coming at an ever higher frequency.

      The push, according to the FT, “reflects concerns that the Fed’s ultra-loose monetary policy for struggling families and businesses risks becoming a double-edge sword, encouraging behavior detrimental to economic recovery and creating pressure for additional bailouts” and also “highlights fears at the Fed that the financial system remains vulnerable to new shocks.” Well, duh. But as Howard Marks pointed out in his latest memo “by dramatically lifting the markets, the Fed may have caused some people to believe that it will always do so – that there’s a “Powell put” that can be counted on to keep things humming.”

      Among those opining was Boston Fed president Eric Rosengren, who told the Financial Times that the Fed lacked sufficient tools to “stop firms and households” from taking on “excessive leverage” and called for a “rethink” on “financial stability” issues in the US.

      “If you want to follow a monetary policy . . . that applies low interest rates for a long time, you want robust financial supervisory authority in order to be able to restrict the amount of excessive risk-taking occurring at the same time,” he said. “[Otherwise] you’re much more likely to get into a situation where the interest rates can be low for long but be counterproductive.”

      Why thank you Eric, perhaps you should have chimed in oh… a few years ago when you and your Fed pals were injecting tens of billions of dollars daily into the market – not the economy as we explained earlier, and to do what – create the biggest asset bubble ever. The same bubble you are now warning about. So truly insightful.

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      Of course, in typical academic fashion, the Fed’s megabrains – most of whom have never worked one day in the private sector – decided to simply follow monetary theory (ignoring completely how it has destroyed Japan and Europe) and only after the catastrophic consequences of their actions are laid bare for all to see, do they decide that it may be time for a reassessment. Somehow we doubt that will prevent the angry, if metaphorical, mob from one day finally showing up in front of the Marriner Eccles building.

      Yet while Rosengren is just a decade or so behind the curve, some of his colleagues remain as clueless as ever. Take San Fran’s Mary Daly, the first openly gay Fed president. As we reported earlier this week, she told reporters that she did not see much connection between loose monetary policy and financial risks. Which of course is false, because in the very next sentence she admitted that there is in fact an asset bubble benefiting a handful of Americans, but because the economy is now so reliant on the Fed, it simply can not afford to ease back on the pedal ever again.

      “We should always watch for excess risk-taking, we should always watch for excess leverage,” she said. “But we shouldn’t regulate off the fear that could happen, and at the expense of so many millions of Americans who need the employment and the income and the access to the economy.”

      We wonder, Mary, what will happen to the jobs of “so many millions of Americans” when the current bubble finally does burst resulting in an even more catastrophic destruction of the US economy. Or maybe Ms. Daly is simply hoping that by the time this happens, she will be long retired and the consequences of her idiocy will be someone else’s problem. We will see.

      * * *

      Although no big regulatory changes are expected in the near term, the debate over tougher financial regulation could gather pace if Democrat Joe Biden wins the White House in November, making the political environment more favorable towards action, according to the FT. The Nikkei-owned newspaper cites Michael Barr, the dean of public policy at the University of Michigan business school and a former US Treasury official under Barack Obama, said: “You want to make sure that you’re using all the tools you have on financial stability, so that you don’t put the Fed in the position of cutting off growth.”

      Ironically, even as the FT writes that top Fed officials are seeking more regulation to prevent the consequences of their actions fro meterializing, the Fed’s own top “bubble watchdog”, Randy Quarles who is the vice-chair responsible for financial supervision, signalled that “he was comfortable with the central bank’s regulatory posture leading into the Covid crisis, reckoning that banks were healthy enough to survive the shock of the pandemic and support the US economy” according to the FT.

      But what the FT did not mention is that Quarles also made a far more “shocking” admission, when he said that the Treasury market is now so large that the U.S. central bank may have to continue to be involved to keep it functioning properly.

      Speaking at a virtual panel conversation on the future of central banking hosted by the Hoover Institute, Quarles said that “it may be that there is a simple macro fact that the Treasury market being so much larger than it was even a few years ago, much larger than it was a decade ago and now really much larger than it was even a few years ago, that the sheer volume there may have outpaced the ability of the private market infrastructure to support stress of any sort there.”

      Translation: the Fed can never again step away and stop manipulating the bond market, which by extension and through the risk premium, is the market which defines every other market, including stocks, commodities, FX and so on.

      The best comment, however, and by best we mean most idiotic, came from who else, but former PIMCO and Goldman banker, Neel Kashkari, who somehow became president of the Minneapolis Fed a few years ago, and who told the FT that stricter regulation was needed to stave off repeated market interventions by the central bank.

      “I don’t know what the best policy solution is, but I know we can’t just keep doing what we’ve been doing,” he said. “As soon as there’s a risk that hits, everybody flees and the Federal Reserve has to step in and bail out that market, and that’s crazy. And we need to take a hard look at that.”

      While we have written a lot about Neel Kashkari, we will hand the microphone to one of our readers who email us the following succinct assessment of that quote:

      This guy Kashkari is full of crap and the biggest clown of all of them. He could care less and does not believe a word of what he just said and will do nothing.  He is just saying that to try and sound credible, prob wants Fed chair job too. Reality is he is the single biggest money pumper of anyone on the Fed.

      But we’ll give Kashkari a few points for at least being honest and admitting the he has no idea what to do now that the Fed has put itself into a dead-end position where both the market and economy demand it continues to inject $120BN (at least) per month in perpetuity.

      So for all those Fed officials “worried” about bubbles, here is DB’s Aleksandar Kocic explaining just how to reduce the risk of bubbles bursting:

      In a debt driven economy, the art of central banking is a technology of decelerating breakdown. By raising and lowering the primary interest rates, a central bank pursues the task of minimizing the endemic risks of a crash by adjusting to an acceptable level the stress incurred by the interest rate. Jumpstarting the economy becomes synonymous with decreasing the risk of insolvency for the units that are in debt.

      And there you have it: if you want to reduce the risk of asset bubbles, just end QE and hike rates. So which Fed staffer will be the first to float this particular idea?

      Yeah, that’s what we thought.

    • Smoothie Robot In Walmart Signals Continued Rise Of Automated Fast Food Workers
      Smoothie Robot In Walmart Signals Continued Rise Of Automated Fast Food Workers

      Tyler Durden

      Sun, 10/18/2020 – 21:10

      Authored by Danny Razor via TheMindUnleashed.com,

      A robot that makes smoothies was showcased at a Walmart in California signaling the rise of automated workers.

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      The Mind Unleashed has previously reported on how automated robots were beginning to take over various different jobs, including flipping burgers with Miso Robotics’ Flippy. Now, Walmart has partially got involved in the trend. A new start-up company called, Blendid” showcased its product at the Fremont Walmart in California this week opening a kiosk, Yahoo News reported.

      The stall is open seven days a week and is pitched as a way for customers to place contactless orders for a smoothie. Customers place their orders for a 12-ounce delicious drink and then an autonomous robot whips it up. What’s more, the drink is made in just 3 minutes or less from the time it’s placed.

      Digital Trends recently questioned the CEO Vipin Jain about how the robot works. Jain explained that customers use an app scanning a simple QR code at the kiosk or via the Blendid app to order. If that doesn’t impress you, how about artificial intelligence that remembers your taste preferences?

      “Consumers use their cell phone to order by scanning a QR code at the kiosk or via the Blendid app,” Vipin Jain, Blendid’s CEO and co-founder, told Digital Trends. “They browse our menu of smoothies made from whole fruits, and vegetables. Once they select a drink, they customize it to their personal taste and health preferences, by modifying the amount of each ingredient as desired. Then they place their order, and Blendid robot gets to work preparing their drink. Once the drink is ready, they receive a text with instructions for a contactless drink pickup. The robot serves the drink to them when they confirm the pickup.”

      While a robot taking over a job like making a smoothie might seem small, the fact Walmart has an automated kiosk in one of its California stores is a larger signal of the automation trend to come.

      In fact, it was previously reported by Fox News in July that, Walmart was looking to remove all cashiers and standard conveyor belt lines from its stores and is testing a pilot in one of its superstores in Fayetteville, Arkansas in the short term.

      CNN previously reported that grocers – big and small chains alike – are turning to robots for performing various tasks like cleaning floors, stocking shelves, and delivering groceries to shoppers. The CV crisis could even prompt online retail warehouses like Amazon to invest more into automation technology as well.

      Walmart also isn’t the first business to discuss using automation. Last year international fast-food chain McDonald’s reported they would begin employing automated fryer robots throughout their different branches across the world. Former McDonald’s USA CEO Ed Rensi told Fox Business, “It’s cheaper to buy a $35,000 robotic arm than it is to hire an employee who’s inefficient making $15 an hour bagging French fries.” McDonald’s has also introduced touchscreen ordering kiosks to some of its stores.

      Restaurant chains that are using automation include McDonalds, KFC, Panera, Wendys, Dunkin’ Donuts, and Arbys according to Business Insider.

      Robots aren’t just taking over restaurants, a report by the McKinsey Global Institute indicates there are 800 million careers (or 30 percent of the global job force)—from doctors to accountants, lawyers to journalists—that will be lost to automation by 2030. The report concludes that hundreds of millions of people worldwide will have to find new jobs or learn new skills.

      A report by the University of Oxford suggests we will face a robot job apocalypse predicting that 47 percent of U.S. jobs are at risk of being replaced by robots and Artificial Intelligence over the next fifteen to twenty years. However, with the current ongoing pandemic workers might find they are replaced quicker. Especially, any type of work that requires physical contact with a customer.

      It shouldn’t be surprising for the reader that’s exactly what a report by A3, Association For Advancing Automation, detailed earlier this year. Stating all the ways that artificial intelligence and automation is being used in different industries to combat CV. Oxford Economics also published its own report warning that accelerating technological advances in automation, engineering, energy storage, artificial intelligence, and machine learning have the potential to reshape the world in 2020 through 2030s, displacing at least 20 million workers.

      With CV as a catalyst to speed up the deployment of automated machines, we can probably safely say that number will be much more severe. It seems I am not the only one to share that opinion; a recent MarketWatch article written by Johannes Moenius, a professor of global business and the director of the Institute for Spatial Economic Analysis at the University of Redlands, agrees with this author’s conclusion stating “at least 50 million jobs could be automated in just essential industries.”

      In fact, the Brookings Institution said in a report last month that “any CV-related recession is likely to bring about a spike in labor-replacing automation … Automation happens in bursts, concentrated especially in bad times such as in the wake of economic shocks, when humans become relatively more expensive as firms’ revenues rapidly decline.”

      You can watch a video of Blendid in action below.

    • An Emerging Markets "Doom Loop" Time Bomb Emerges, And Inflation Could Set It Off
      An Emerging Markets “Doom Loop” Time Bomb Emerges, And Inflation Could Set It Off

      Tyler Durden

      Sun, 10/18/2020 – 20:45

      While both we – and most other analysts – have been focusing on soaring debt and QE since the covid pandemic, DB’s Jim Reid correctly points out that this has been mostly in the context Developed Markets. But how have Emerging Markets funded themselves in the pandemic? The answer, as Reid writes in his Friday “Chart of the Day” note, is “via leveraging its banking system by a combination of moral suasion, liquidity provision from central banks, steep yield curves (encouraging carry trades), regulatory policies (reserve requirement cuts and easier accounting rules), and falling loan-to-deposit ratios (higher savings/weak demand) freeing up balance sheets.”

      This, according to some other analysts, is called “shadow” QE.

      It’s also a major problem: as the DB strategist explains, “if you’re looking for future potential crises this is another sovereign-bank nexus similar to that grappled with in the Euro sovereign crisis.”

      In other words, a Doom Loop for emerging markets.

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      Of course, an EM doom loop is just the start, as they are many more serious problems for emerging markets, with inflation the most likely one. As Reid explains, “a return [of inflation] could force central banks to sharply raise front-end rates, or to withdraw cheap liquidity. This would change the incentives for shadow QE which is inherently price sensitive, unlike the central bank QE mostly used in DM countries.

      In a separately note by DB economists  Mallika Sachdeva and Oli Harvey, the duo discuss the role that shadow QE has played across Asia, CEEMEA and Latam this year in helping governments to finance deficits and central banks to (mostly) avoid large official QE programs.

      While CE3, Brazil & Mexico in Latam, and Malaysia in Asia stand out as countries where banks have played a particularly large role in absorbing issuance, a key condition of “shadow” QE has been muted inflation trends.

      “If this changes, so could the calm in EM debt”, Reid concludes adding that “increases in debt usually bring future crises so this is an interesting development to watch.”

    • The Year Of Disguises
      The Year Of Disguises

      Tyler Durden

      Sun, 10/18/2020 – 20:20

      Authored by Roger Koops via The American Institute for Economic Research,

      2020 is a year of disguises. Some examples include computer models/modelers disguised as “science/scientists,” Tyrants/Dictators/Totalitarians disguised as “elected officials,” propaganda machines disguised as “news sources,” brainwashing disguised as “information,” censorship disguised as “public health safeguard,” panic and fear disguised as “social responsibility.”

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      Even the virus itself has been disguised by humans as an “apocalypse.” But, the last part is not the doing of the virus, but the doings of a select number of humans who are responsible for many of the other disguises as well. And if you look at the totality of events in 2020, it is clear that the average citizen has been treated generally less than human, certainly not as adults in any case. 

      I believe we are in as great a crisis as a species as we have ever been. The crisis is not from some seasonal virus (which is a health issue), but it is from ourselves and what we have devolved into as a species (social, cultural, ideological issues).

      I have debated with myself on how to approach the following essay. Under normal circumstances, it would be easy. But, the topic has been so warped and sensationalized into political and social hyperbole, it is difficult to get a handle on it. I could go at it strictly from a scientific perspective, but that would tune many people out.

      After about two weeks of my own internal debate and several versions, I have decided to treat the readers of this essay as Human Adults. I will try to not get too technical but rather use rational arguments to approach the issue of a viral infection from the perspective of the virus molecule outside of the host, i.e., the natural environment.

      Computer modeling is “a” tool, not “the” tool. The model is only as good as the assumptions put into the model. It has been clear from the start that the modelers have NO idea of how a virus works in the natural world. They have based their modeling on the assumption that the culprit is the human being. The human being must be controlled in order to control the virus. This is completely wrong. I hope to present arguments that illustrate the weaknesses of the modeling concepts.

      Human Perception

      The natural perceptive abilities, i.e. the physical senses, of human beings are quite poor. For example, we can see only a very, very small part of the electromagnetic spectrum, illustrated as follows: 

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      Consequently, humans have difficulty understanding that which is not directly observable by their senses. Size and mass we do okay at, providing we can see it. We tend to have better abilities with larger things that we can observe. But, even size perception has its limits. For example, many people cannot grasp the scope of our universe. 

      Smaller things, things we cannot see we have trouble with. We live, and have always lived, in a world with things that are far smaller than our ability to detect without some instrumental aid. For example, when I tell people that their bodies are mostly empty space, they scoff. We have solid substance, they say, we can feel it. I respond that the reason we feel it is solid is because that is how our brain interprets it.

      For example, neutrinos are subatomic particles with no mass. They do not interact with matter. We are bombarded by interstellar neutrinos throughout our lives. They pass right through us. It makes no difference where you live because they pass right through the Earth, too. You can live a whole lifetime and never have experienced a collision of a neutrino with a cell in your body. Think about it; is it difficult to grasp?

      Yes, neutrinos are exotic and basically of interest to physicists. But we exist in a constant interaction with other not-so-exotic things. 

      Bacteria and fungi, at the cellular level, exist at the micron scale (see the scale diagram below). But, they have the cellular machinery to grow on their own, i.e., their cells will divide and multiply as long as they have nutrients. We cannot see them normally without a microscope. But, if they keep growing, eventually we can see them (as things such as moldy bread, or mildew on the wall), or even feel them (old vegetables that get a “slimy” feeling actually have a bacterial plaque on their surface). Both bacteria and fungi can form “spores” to protect themselves under harsh conditions. It is a form of hibernation. 

      We have bacteria and fungi in our bodies constantly. Our immune system usually keeps them at bay, or more accurately, keeps them in balance. However, if our immune system weakens, or if a balance is shifted towards the bacteria/fungi, the balance can tip in their favor and we can experience disease. We tend to have more difficulty with control of bacterial/fungal infections than viral infections. In fact, the most common cause of a fatal outcome due to viral infection, including coronavirus, is a bacterial infection. 

      The reason the second week of infection is considered the worry stage is NOT because of the virus; rather this is the time when a weakened immune system, either by exposure or by losing the balance battle cannot prevent the bacteria/fungi from taking off. Most people who die from influenza, coronavirus, even rhinovirus, do so primarily from pneumonia (bacterial infection) or some other systemic bacterial infection. 

      Other things, besides fighting a virus, can weaken the immune system. Aging, diabetes/obesity, liver disease, kidney disease, cancer, lung disease, other infections (viral/bacterial/fungal), stress, circulatory problems, cardiovascular disease, and several others all can cause weakened immune systems (that is why they are called “comorbidities”). Clearly, the number and degree of conditions that weaken your immune system greatly increase the risk of severe disease or death from any infectious disease (bacterial, fungal, or viral).

      All of these things occur at a level where our senses cannot perceive them. Fortunately, our bodies recognize these things at the molecular level and it is our own chemistry (we call “biochemistry”) that intervenes, mainly in the form of our immune system. 

      The Virus: What are we dealing with?

      My Doctoral degree is in “organic” chemistry, specifically, chemistry involving carbon-based compounds. Chemistry is about working with problems at a molecular level. Guess what a virus like coronavirus is? It is a complex organic molecule. Organic chemists would call it a “macromolecule” where “macro” means large. It is only considered “large” in comparison to small molecules. I am naturally inclined to look at a virus like coronavirus as an organic molecule. 

      Coronavirus (CV) and influenza (IF) are very similar at the molecular level. Both are ribonucleic acid (RNA) viruses and both are enveloped helical (meaning that they have a similar 3- dimensional structure with a protein outer part and the RNA inside). CV is a positive strand RNA and IF is a negative strand RNA. This means they have opposite structures much like you have a left hand and a right hand. Their viral class identification is different partly for that reason. 

      Both CV and IF behave almost the same outside of the body and this is due to their size, structure, and relative chemical similarities. On average, both are about the same size, ranging around 100 ±30 nanometers or nm (CV can range smaller in size than IF). For consistency purposes, I will refer to both of them at the 100 nm size, which is reasonably accurate (nm is 10-9 meter (0.000000001 meter), a micron (μm) is 10-6 meter (0.000001 meter). The meter is about 10% longer than a yard, or 39.37 inches so 1 micron is 0.00003937 inch.

      I have created the following scale for a reference point using font sizes, and I hope that the fonts are reasonably accurate. Note that our eyes cannot see 5 micron, so this is enhanced.

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      As the chart shows, both CV and IF as a molecule outside of the body are VERY, VERY small. They are undetectable without the use of an electron microscope. We simply cannot detect it in the natural environment. The tip of your finger, maybe 1 square millimeter, can literally pick up tens of millions of virus particles and you could not see any of them.

      Because of the small size, we really do not know how they truly exist in the environment. They could be floating around as individual molecules, i.e. as single CV/IF particles. They could “aggregate,” meaning that they form clumps of molecules (again, too small to detect). They could attach to any other particle in the environment. Since they are so small, they could hitch rides with dust particles, pollens, leaves, just about anything that they may have an affinity for. The list of possibilities extends to anything you could think of in the environment, including living creatures. In short, they simply could be anywhere and everywhere.

      Molecules can react with other molecules (reactivity), or they can remain as they are or fall apart into smaller molecules (stability). For the purpose of this essay, I will focus mainly on stability.

      Most molecules have conditions that can render them either more stable or less stable. Clearly, with an infectious disease molecule, we would want to try and break it apart, or not give it stability. Breaking it apart usually renders it inert; i.e. non-infectious.

      In an outdoor environment, we know that the CV/IF molecule will start to break apart within minutes or maybe last an hour or two. The local environmental conditions will determine how fast the molecule breaks up. We know that heat and ultraviolet (UV) radiation are pretty good at breaking it up.

      There are things that chemically will help break it up. For example, saline conditions, like in an ocean are good (it may be considered a “natural disinfectant”). There are man-made disinfectants such as bleach. We know that CV/IF are not stable under pH of 3 or over a pH of 10. So if the molecule encounters either natural or man-made conditions that deal with these pHs, the molecule will break up. Common soaps are good for breaking up the molecule. This is why there is the recommendation to wash with soap and water.

      Likewise, there are conditions that increase the stability of the molecule. Both CV/IF survive longer under colder conditions. This is probably one reason why they tend to favor winter months and colder climates.

      We know that certain types of surfaces can make it more stable. For example, CV has good stability on plastic (1/2 life of almost 8 hours) and has even been detected up to one week on surgical masks. Some types of metals, such as copper, can speed up decomposition and some metals lend stability (such as stainless steel). 

      Skin can actually be good at destabilizing because of not only sweat but also the natural oils and detergents that are produced in the skin can break apart these types of molecules. That is a reason that skin absorption is not considered a vector of infection. Serious breaks in the skin, however, such as from burns or injuries, could lead to infection due to the decreased natural inhibition.

      So, in general, we would want to try and increase exposure of the molecule to conditions that destabilize while trying to minimize the stabilizing conditions. 

      The Virus in Disease Transmission

      The “rationale” for lockdowns, masks, distancing, etc. all rest on the assumption that human direct transmission is the greatest risk for disease. Anyone, at any given time, in any place can pass the virus to another. It sort of reminds me of the character “Cofi” in the movie “The Green Mile.” People seem to be convinced that somehow, the only way to catch this virus is because it makes a beeline from person to person. In other words, we are the culprits.

      But, is this really the case? In short, “No” and here is why.

      Because of the modeler’s view, if we imprison people (“lockdown” – a term used in penal institutions when prisoners become unruly), cover their faces (“masking”), and keep them from doing what people do, i.e. socializing (“distancing”), we can stop the virus. This concept is what “wanna-be” dictators all over the world have embraced.

      This is NONSENSE. Certainly, you can get infected that way but that is only one way of many ways. It may not even be the main way. It is “losing sight of the forest for the trees.” 

      To examine the path to infection more closely, let’s make the following assumptions (which you can see are more or less worst case assumptions):

      • Assumption 1. A person has CV/IF and is shedding, i.e. releasing virus from their bodies. Further, let’s focus on the nasal/oral route for shedding as the only route, even though we know that the virus can be shed from feces.

      • Assumption 2. All shed virus is infectious. This may sound like a strange assumption but we really do not know HOW infectious shedding viruses truly are. What is being shed could be combinations of fragmented virus and more intact virus. The reason it is not clear is because a main method that is used for identification of samples is PCR. PCR cannot tell whether what is being amplified is actually infectious or not. 

      When we exhale breath, speak, sing, laugh, cough, shout, sneeze, hiss, scoff, grunt, etc., air is expelled from our, mostly, upper respiratory tract. This air MAY or MAY NOT contain particles of moisture (mostly water). These moisture particles MAY or MAY NOT contain mucus, cellular debris, bacteria etc. from our respiratory tract. These moisture particles MAY or MAY NOT contain virus particles. In other words, there MAY be virus particles hitching a ride or there may be NONE. 

      There is no scientific evidence that when a person is infected that they are continually expelling virus, but that goes to a different essay. Please note, I am not referring to the playground use of the “spitball,” which is a massive collection of saliva, which may or may not contain any of the above. However, I think that we all can agree that amorous kissing when there is an infected person involved runs the highest risk of transmission. But this has more to do with direct contact. I want to deal with indirect routes of transmission.

      The expelled moisture particles range in size from very, very small to much larger and for scientific purposes are divided typically into two categories: (1) aerosols, which are the very small particles usually below 1 micron, and (2) droplets, which are particles larger than 5 micron. The range between 1-5 micron is sometimes ambiguously defined either as an aerosol or a droplet but that is not really important for this discussion. You can see the whole range is involved. 

      Once expelled (egress) away from the nose/mouth, moisture particles will travel certain distances depending on their sizes. Larger droplets fall closer to the individual while aerosols can travel much farther or remain suspended. We have imaging techniques to see droplets using special high speed cameras, but we cannot visualize aerosols. 

      Clearly, independent virus particles that are NOT hitching rides are expelled as nanoparticles and go out into the environment. We cannot begin to see these. But, as nanoparticles, we should assume that they can remain air suspended for long periods of time and are taken up by the local air movement patterns.

      Aerosols and droplets, after leaving the mouth/nose will quickly lose their moisture, i.e. the water base will evaporate. The smaller the particle, the quicker this will happen. With aerosols, it may be within a fraction of a second. Environmental conditions will also affect the timing. Warmer and dryer conditions will speed up evaporation while colder and more humid conditions will slow it down. Studies have indicated that under most normal temperature conditions, aerosols and droplets less than 100 micron in size evaporate before they hit the ground. 

      What happens to the hitchhiking virus? IT IS STILL THERE! It does not evaporate. It has lost its ride but it is still there.

      What happens to it now? It can go anywhere, i.e. it can be dispersed just like the free molecule. It will last as long as it is stable. It can be carried by the wind (outdoors) or by air movements or HVAC (indoors). It can hitch a ride with other carrier things (outdoor examples such as above). It can land on surfaces, any surface, whether indoors or outdoors. Animals or even insects can carry the molecule if it lands on them. If it lands on another person, it can land on their clothes, hair, skin, etc. and be carried by them. If it happens to get sucked into the respiratory tract or absorbed on the eye, it may eventually lead to infection if it can survive the body defenses. The possibilities really are endless.

      Indoors, the picture becomes even more complicated because now the vectors of movement, displacement, and contamination possibilities increase. Air handling units can redistribute the molecules to other areas far from the original source. Surface contamination is now a real consideration. Simple items can become sources of infection. 

      For example desk pens and pencils, office equipment, telephones, notebooks, furniture, electronic devices, cups/glasses, dishes, light switches, etc. Just look around the room that you are sitting in and remember about when you (or someone) “dusts.” At least anywhere that a “dust” can go so can a molecule like a virus. In fact, the very act of “dusting” could reintroduce the molecule back into the environment. Anything in that environment that you touch is a potential source.

      It should be easy to see why a lockdown is disastrous. A single sick person can spread a virus throughout a whole building and no one would know it until too late. Clearly, air handling, sanitation, people movement, shared items, all will play a significant role in transmission risk.

      Further, indoor conditions are better generally for stability and survival of the molecule. Why are meat processing/packing plants at risk? They are refrigerated facilities. There are many people so there is a lot of movement. There are many surfaces for the molecule to sit, like carcasses, that are handled often and routinely. 

      I think people can start to see the problem that we are dealing with and why the virus doesn’t just go away so easily. 

      Don’t “Masks” Make A Difference?

      Before going into that question, I want to provide both some personal background and maybe a little comic relief.

      The photo below was taken about 30 years ago, and yes, that is me. I was being fit tested for my own respirator. In my first position after the Ph.D., I was given charge of developing a molecule that was so lethal (yes, it is used medicinally but in very dilute solutions and under strict controls) that even the tiniest of amount contacting my skin, nose, eyes, etc., could knock me out and kill without my ever knowing it; the risks I faced were far greater than any coronavirus. I had to undergo serious Personal Protective Equipment (PPE) training as a result. When your life hangs in the balance, you learn all that you can. I was also a member of an isolator design team to develop a manufacturing unit to contain the production process. 

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      Yes, I do know something about PPE. 

      The type of respirator that I am wearing in the photo is designed to protect the wearer from chemical agents, mostly, although there are biological filters available. It has unidirectional airflow. That means that the air that I would breathe in would be pulled through a series of filter cartridges (the round canisters on the sides) in order to remove the potentially offending compounds. After inhalation, a valve would close off the incoming air (ingress) and my exhaled breath would exit via another one way valve (egress), which you cannot see but it is located in the middle of the canisters directly in front of my mouth. Of course, this was used with other head and body protection since ALL physical contamination had to be guarded against.

      This kind of respirator required both fit and physical certification. I had to be certified on an annual basis to show that my lungs were capable of breathing with this apparatus since the pressure differential was great. That means, I had to be able to suck in the air through the filters as well as deliver out through the valve. Lung capacity was very important; it was NOT a normal breathing experience. You also had to take periodic breaks, as well as a thorough and careful decontamination after each use. The respirator worked only as long as the filter cartridges were effective. They could reach a saturation point or a point where the cartridge was spent and beyond that there would be no protection.

      The idea of “masks” on people did not suddenly appear in March of 2020. The usage of face protection with infectious diseases has been well studied, especially with influenza. Do not forget, the mechanics of these two viruses (CV/IF) are essentially the same so what works or doesn’t work for one is the same for the other. 

      The understanding has been that a “mask,” and that term usually refers to either a SURGICAL mask or N95 mask, has no benefit in the general population and is only useful in controlled clinical settings. Further, it has been considered a greater transmission risk than a benefit in the general population. If people still have a memory, you may recall that this was still the advice in February 2020. That understanding has not changed and I will explain why.

      The term “mask” by itself means nothing. It is like saying “car.” You have to identify it more specifically because there are many different types and varieties, just like cars. So, for this essay, I will use two terms as follows:

      1. Face Coverings: In this category I will include homemade cloth, dust, non-fitted utility, custom stylish, and any other common “mask,” i.e. something that is intended to cover your mouth and nose and that is by and large used in the general population (because they are cheap and inexpensive).

      2. Mask: In this category, I am referring specifically to the SURGICAL mask and N95 mask (which is recommended for use in clinical settings by health care workers). If necessary, I will specify between them.

      One of the big mistakes by modelers is the concept of a face covering or mask as a “barrier.” I see many references to so-called “experts” who make this claim. This is completely false. No face covering or mask is a barrier. Either they do not know what they are talking about or they are misleading people.

      Masks and “Face Coverings” ARE:

      1. FILTERS, not barriers. They FILTER only the things that they are designed to filter, to a level of efficiency based upon design, usually not at 100% efficiency. For example, the N95 mask is designed and rated to filter particles greater than 300 nm at 95% efficiency (note: there are masks with greater efficiency than 95%, such as the N99 and NHEPA, but these are very expensive). 

      2. Bidirectional, or two-way street flow (unlike my respirator above). That means the air is intended to go in and out through the same place – breathe in, breathe out. The filtering ability affects both ingress and egress, but MOST are intended to be used towards ingress, i.e. to protect the wearer (Surgical masks are the exception).

      3. Designed for normal breathing patterns, not exertive force (although the Surgical mask has a pressure rating). This is an important point!

      4. NOT designed to filter infectious agents but rather inert particulates (except the Surgical mask which is intended to preserve a sterile/sanitary operating field).

      5. Designed for minimal usage time. They are NOT intended to be stuck on your face for hours.

      I understand the psychological crutch that people feel with something covering their mouth/nose. I am sorry, but that is a false sense of security. Perception is NOT reality, just like the neutrino. The mind says that you have some solid thing covering your mouth and nose but that is not really the case, it is porous; things get through (or go around)..

      I could spend time on the viral transmission ineffectiveness of the variety of face coverings and fitted masks based upon the material, pore size, non-fit, etc., as well as the studies. I will say that there has been only ONE type of mask, the SURGICAL mask, which has shown any ability to reduce, not eliminate, virus transmission because it is actually rated to a 100 nanometer pore size AND it is rated for ingress and egress. But, the SURGICAL mask is not intended for use outside of a controlled, sterile hospital surgical field where its use and function can be controlled. It has limitations.

      In Part III above, the expulsion of the virus into the environment was examined. So, what happens if a person wears a mask/face covering? There are two different views of how the mask operates depending on whether it is ingress (protecting the wearer) or egress (protecting the environment). But, both add up to more or less the same thing.

      First, what happens on EGRESS. We will look at droplets because most face coverings will not stop an aerosol and the 2020 propaganda has been focused on droplets.

      Assuming that a person is shedding virus and they produce droplets that contain hitchhiking virus, and assuming the face covering actually stops ALL droplets (best-case scenario), the following molecular pathway will likely occur:

      1. The droplet will lose its moisture. The timing may be different than just going out into the environment but moisture will be lost. However, the expelled droplets may accumulate faster than evaporation. If that happens, the facial covering starts to become saturated with moisture, mucus, cellular debris, bacteria, etc. as well as virus molecules. 

      2. The virus molecule DOES NOT EVAPORATE and no matter what happens as far as the droplet is concerned, the virus is now on the face covering, at least initially. This means that the face covering is now contaminated and is a possible source of transmission, both contact and airborne.

      3. The virus is not somehow magically “glued” to the mask but can be expelled, whether or not there is still moisture. This can happen the next time a person breathes, speaks, coughs, sneezes, hisses, grunts, etc. So, the virus can be expelled out INTO THE ENVIRONMENT from the face covering.

      So, the face covering acts as an intermediary in transmission. It can alter the timing of the virus getting into the environment, but it now acts as a contact source and airborne source; virus can still get into the environment. Since we know that the stability is good on most covering and mask materials, it does nothing to break down the virus until the covering is removed and either washed or discarded (appropriately). 

      Here is an important point, as more virus molecules accumulate, more are expelled. The face covering is not some virus black hole that sucks the virus into oblivion.

      Second, what about INGRESS?

      What works for egress works for ingress. So, if a person is wearing a face covering and they encounter virus, aerosols, or droplets, the virus and aerosols will likely penetrate. If the droplet is stopped, the surface is now contaminated. This means that if the surface of the covering touches the mouth or nose, you can become contaminated, i.e. infected. 

      This is a common sight with most face coverings, including the “stylish” coverings that people are wearing (I often see the covering moving back and forth against their mouth and nose even as they breathe, like a diaphragm), as well as with the cheaper dust masks and homemade cloth masks. If you inhale, you can become contaminated. If you touch the face covering, such as pulling it up and down, you can become contaminated.

      Further, because the surface is contaminated, a person can also expel the virus back out into the environment just as with egress. This can be done by talking, breathing, coughing, etc.

      Stopping a *droplet* is NOT the same as stopping the virus!

      This molecular evaluation only assumed the best case contact scenario; that is, 100% contact between the face covering and any virus particle that may be encountered. I have NOT examined low efficiency coverings, inappropriate use and handling, non-fit (air will circumvent the covering and go around it since air flow follows the path of least resistance – where the air goes so does a virus). I have NOT examined the eyes or ears as entry points. I have NOT examined the other modes of molecular movement on the surface of face coverings, such as osmosis. I have NOT examined the almost 100% misuse of any covering by the population at large simply because they have not been trained and have been misinformed and are using ineffective coverings.

      It boggles my mind when there is some notion that by wearing a face covering you are actually doing a “service” to your neighbor and therefore everyone has to protect everyone by this. Actually, the opposite is true. You are now becoming an additional potential source of environmental contamination. You are now becoming a transmission risk; not only are you increasing your own risk but you are also increasing the risk to others.

      To better illustrate, let’s look at my respirator above. If I had been exposed to the molecule that I described, the filters would have protected my breathing function (my other protective equipment such as gowns, hoods, etc. would protect the rest of me). But, the respirator surface would have been contaminated (as would the other gown surfaces). If I had gone out into an uncontrolled environment with that respirator (and/or gown, etc.), I could have released those molecules into the environment endangering any person, possibly fatally. I had to de-gown and decontaminate, very carefully, in a controlled environment to prevent that possibility. Even though I had been protected, I was still a risk to others.

      Before March 2020, the standard Good Respiratory Practice (GRP) was to cover your mouth/nose when coughing or sneezing. It is especially effective if you use a tissue or handkerchief as a receptacle and cup your hand around them. The hand now actually DOES serve more as a barrier. 

      Plus, you will more likely remove the potential virus molecule from the environment by proper disposal of the tissue or washing the handkerchief. That is a practice we should be getting back to. I see people now who believe the misinformation and do nothing to shield their cough or sneeze because they believe that wearing a face covering is a barrier on its own. This is not good. So, at the very least, cover your face covering with your hands if you cough or sneeze!

      I cannot tell people to not wear a face covering. I chose not to wear face coverings for two reasons, the first is all of the above, and the second is that I have experienced this virus. When I see people with them, I think of virus heaven. But, I am also not afraid because this virus does not frighten me.

      I cannot tell people not to erect plastic sheets. But, when I see them, I see a virus motel-check in, stay a while, and then leave. This concerns me more because of the much larger surface area that can act as a virus repository. I have actually advised some places that have done this to either disinfect regularly, or move to glass where disinfection is easier. If there is virus stuck to these surfaces, there is both contact risk and expulsion risk back into the environment.

      My view of dealing with the virus is at the molecular level. Do what we can to actually deplete the molecule, not give it stability.

      We cannot eliminate this or any other upper respiratory virus. Maybe someday we can advance our immunological techniques to the point that it might be possible to make it a minor player in humans, but we are not there yet. But, we can defend against it by our immune systems and by trusting those with stronger immune systems to protect the weaker. Despite the propaganda, herd immunity was the standard before March 2020; it is not a “fringe” concept.

      Here are some important points to consider:

      1. People who have experienced this virus do NOT need to wear face coverings, period.

      2. In the open environment, no one should be wearing face coverings. This is the one place where we can get an assist from nature to help reduce the virus molecules. Considering that less than 5% of transmissions have been associated with open environments (and identifiable activities not random encounters), the risk is truly small.

      3. A face covering may be useful when visiting an at-risk elderly person or in a controlled health care setting such as a hospital or nursing home. But, I think that these should be dispensed by trained personnel and should be focused on using Surgical masks wherever possible. The protection is not so much from viruses but face coverings may be more effective in preventing the spread of bacteria and fungi.

      4. Children should not be wearing face coverings. We all need constant interaction with our environments and that is especially true for children. This is how their immune system develops. They are the lowest of the low risk groups. Let them be kids and let them develop their immune systems..  

      5. The “Mask Mandate” idea is a truly ridiculous, knee-jerk reaction and needs to be withdrawn and thrown in the waste bin of disastrous policy, along with lockdowns and school closures. You can vote for a person without blindly supporting all of their proposals!

      6. There may be other health risks associated with continued use of face coverings. While this is anecdotal, I have many physician acquaintances and they are all reporting increases in conditions that may be associated with face coverings, such as facial skin infections, nose/throat and sinus infections, even anxiety conditions. An area of concern is the change in breathing patterns that can be directly associated with face coverings. I train regularly. The only time that I wear a face covering is to gain entrance to the public gymnasium where I train (because it is required). The mask is discarded immediately when I start training, as most other people also do. The staff members do not make a fuss because they understand the dangers of doing exertion with a face covering.

      7. We also do not know enough about the possible consequences of forcing whole populations to adopt face coverings for extended periods. There may be both health and social consequences that we cannot consider at this time. Humans have developed as creatures whereby we interact with our environment. Our whole upper respiratory tract has developed immense defensive systems because of that. I am worried personally about “unnatural selection.” This is when human actions force a direction of evolution that would not otherwise occur. Often, the result is not good. But that is a whole different subject that needs to be considered.

      I think that people can see how truly complex and difficult it is to deal with a nanoparticle. It is something too complex for modeling, at least on the environmental scale. It should be clear that humans are only a small part of the equation. 

      Stopping humans from being human will not stop the virus from being a virus!  

      We certainly should not have let modeling be experimented with on a worldwide scale directing policy that we had no idea of the outcome; but we did. It should be readily apparent by this time that all of the lockdowns, masking, distancing, closures, etc. have had no effect on the virus. It is time to reverse course.

      Modeling could be useful in evaluating conditions in very limited and controlled settings. For example, it could be helpful to design infectious disease care units in hospitals. We could use modeling to examine our knowledge and use of air-handling, people movement and interactions in combination with molecule destruction, PPE, etc. to maybe develop better procedures to protect health care workers but also help reduce viral loads of patients. 

      For example, would a simply designed, single pass individual exhaust unit that carries the expired air from a patient to a chemical scrubber help reduce the viral load of the environment? Could it also help the patient by reducing the local viral and bacterial load? Could it help reduce or eliminate the molecule from those environments? These and others are questions that can be modeled and then tested. Then, maybe it can be tried on a pilot scale. If that works, maybe we can expand the scale, fine tuning as we go, and maybe reach a point where it works well and it can be used on a larger scale. That is how science works. Start small, gain understanding, finetune, and expand. You do NOT use the whole world as a laboratory on the first shot!

      It is time for human beings to be human beings again. Stop trying to lay blame and guilt on people for a natural virus. 

      If governments want to be helpful in reducing severe disease and deaths, imposing more laws and restrictions is not the answer. Rather, focus on educating people on how to better maintain their immune systems. Encourage healthier lifestyles through education and wellness programs, especially in the less fortunate of our society. Provide or encourage businesses to consider better sick leave alternatives for people in ALL jobs/vocations so that people are not driven by the choice of work to live or stay home and be sick. 

      The healthy people in our society should not be punished for being healthy, which is exactly what lockdowns, distancing, mask mandates, etc. do. This goes completely against the principles on which the United States of America was founded. We have lost the meaning of “Land of the Free, Home of the Brave” to “Land of the Imprisoned, Home of the Afraid.”

    • Hong Kong Sees "Alarming Rise" In Suicide And Depression Among Young People
      Hong Kong Sees “Alarming Rise” In Suicide And Depression Among Young People

      Tyler Durden

      Sun, 10/18/2020 – 19:55

      While projections about millions of confirmed COVID-19 deaths piling up in the US, Europe and elsewhere have proven to be wildly off, doctors warnings that lockdowns would cause severe trauma to the entire population, portending a spike in suicides and other so-called “deaths of despair”, as a group of scientists warned in an open letter published months ago.

      But although deaths from COVID-19 have remained roughly stable even as cases and hospitalizations have returned to, or exceeded, their highs from the spring, suicides, drug overdoses and not to mention deaths from untreated underlying medical conditions are all on the rise.

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      Now, the SCMP reports that Hong Kong is in the grip of an alarming rise in the number of young people struggling with emotional distress and suicidal ideation, while a rise in the suicide rate that predated COVID-19 appears to have worsened. The paper (infamously controlled by a Communist Party member and billionaire Chinese tech entrepreneur) attributed these conditions to the pandemic, but we suspect that Beijing’s brutal crackdown on dissent with its new national security law has contributed to general feelings of malaise in the tiny, but densely populated metropolitan area.

      Whatever the cause, three health organizations in the territory warned that they were seeing a wave of young adults struggling with severe depression accessing their services. The Samaritans, a suicide prevention charity, said more than 70% of those using its email services were students, ranging from primary school to university level.

      According to their internal data, the number of hotline users reporting suicidal thoughts doubled between June and September.

      Many students cited school closures and a sense of isolation and uncertainty about the future as contributing factors to their depression. As families hunkered down during quarantine, relationships between parents and children became strained. Obviously, the impact on the economy has left many once-secure individuals dependent on government benefits to survive, wondering whether they’ll be able to make it through to the spring, or whenever industries like tourism and hospitality finally recover.

      “It is a matter of concern, because early intervention and talking to people is the first step to preventing a suicidal act,” said Karman Leung, chief executive of The Samaritans in Hong Kong.

      One 24-hour text platform called “Open Up” (it’s aimed at those aged between 12 and 29) also reported an increase in young people contacting them due to emotional distress. It said the cases went up from 86 per day in February to 110 a day in September, an increase of 28%.

      Like the US, suicide rates were rising in Hong Kong even before the pandemic. In 2019, the suicide rate climbed to 13% from 12.3%, though of course that’s just one year.

      But all of the evidence seen so far seems to suggest that the rate in 2020 will be significantly higher.

    • CIO: "US And China Are Engaged In Full-Blown Financial War… And China Will Fake Prosperity & Growth To Attract Foreign Capital"
      CIO: “US And China Are Engaged In Full-Blown Financial War… And China Will Fake Prosperity & Growth To Attract Foreign Capital”

      Tyler Durden

      Sun, 10/18/2020 – 19:30

      By Eric Peters, CIO of One River Asset Management

      “In the early 2000s, mainland China was perhaps 5-10% of the Asian capital markets, and China appeared likely to grow in a symbiotic way with the US,” said the CIO from Asia. “That path is now gone, and the possible scenarios are not nearly as hopeful as back then,” continued one of the region’s leading investors. “But knowing that the future is not as bright is different from knowing how it will unfold,” he said. “So, for that, we break the future into a number of possibilities, then watch for signs that tilt the odds toward one or the other.”
       
      China is highly indebted and leveraged, so Xi is attempting to open up because he needs to attract foreign capital,” added the same Asian CIO. “He’s playing a confidence game, and it is vital for his survival that he win it,” he said. “In less than 20yrs China has come to represent 70% of Asia’s capital markets.” With such dominance, any investment decision in the region has become a call on whether you want to be long China. “Xi is looking to attract $5trln of foreign capital to plug holes, levering it 10x-15x through the state banking system.”
       
      “The bullish China case is that Xi gets his $5trln, levers it, and uses excess capital to secure dominance in the industries of the future,” explained the CIO, referencing artificial intelligence, biotech, microchips. “Along that road, Xi will leverage all the industries that China already dominates to secure advantage.” Solar, batteries, LCD panel production. “And while the US may draw away, the Germans and French are ultimately commercial and if China can produce the best products, and consume European luxury exports, Beijing may just win.”
       
      “The bear US case is a derivative of China’s bull case,” he explained. “The US net international investment position is -$13trln.” To maintain its economic dominance, it needs to continue to attract enormous capital inflows. “What allowed the US to sustain this imbalance is global confidence in its legal/political systems alongside an incentive structure that rewards entrepreneurship, but if the nation swings between Trumpism and Sanderism in the decade ahead, that confidence is undermined. And investors will seek to diversify away from America.”
       
      “The bear case for China is that Xi is clearly an authoritarian,” said the Asian CIO. “He imposes so much control over Chinese companies – which he already has – that the rest of the world refuses to use Chinese IOT (internet-of-things) technology.” Fear that Beijing will ultimately have access to all our data is seen as unacceptable. “This then kills so many of China’s talented entrepreneurs.” Leaving them unable to expand beyond their domestic market. “They can only be as big as the economy is successful – and so China fails to attract the $5trln.”
       
      Anecdote:

      “China is now fully engaged in a financial war with the United States,” said the CIO from Asia. “And this view rises all the way to the top of the power structure in Beijing,” continued one of the region’s leading investors.

      “Whatever can attract foreign capital to China is seen by Beijing as being in the national interest,” he said. “So if it is in the national interest for a leading Chinese technology company to fabricate flattering financial results, the government might be fine with that.”

      In times of war, rules shift to meet national needs. In a world where capital is desperate for evidence of growth, fabricating the latter to attract the former is a rational strategy. Failing to attract capital is unacceptable for a nation with an inflating property bubble which simultaneously supports tax revenue, employment and domestic consumption. US pressure to re-engineer global supply chains could not come at a worse time for the Beijing Acrobats, their plates spinning, slowing.

      And this amplifies the pressure to maintain an appearance of prosperity so that the foreign capital continues to flow in.

      “We have always had to be somewhat skeptical of economic statistics and corporate figures coming out of China, but in a time of financial war we may see distortions on a scale never before seen,” he said. “For the time being, western money is flowing in even as capital controls are tightening for locals. Foreign pensions, endowments, they’re seeking greater diversification for their portfolios.”

      And if this doesn’t work, the Chinese may choose to become more assertive regionally, and coopt the sources of capital surplus that fund US deficits – HK, Taiwan, Korea, Japan. Under Biden both the Saudis and Russians will surely be more allied to Beijing.

      “But the foundation for investing so much money in China is unstable,” said the CIO. “One must invest very carefully in China and be skeptical of all the numbers that are presented.”

    • Howard Marks Interviewed: What If The Fed's Master Plan Is To Kill The Business Cycle
      Howard Marks Interviewed: What If The Fed’s Master Plan Is To Kill The Business Cycle

      Tyler Durden

      Sun, 10/18/2020 – 19:05

      There was a brief period when in the days just after the covid crash, Oaktree’s iconic founder Howard Marks – perhaps due to lack of more productive outlets – was publishing memos faster than people could read them. Then, he kinda faded away – perhaps because he was too busy cramming down his fellow investors in creditors fights involving covenant-lite loans – but re-emerged again last week when his latest memo “Coming into Focus” was published after a two months hiatus from writing.

      We won’t do a book report – to be fair, the note wasn’t original at all and was largely a repeat of what Marks has said in the past, as his view is increasingly convergent with that of this website and other skeptics who warn that there won’t be a happy ending (he himself admits so in the conclusion, saying “the odds aren’t on the  investor’s side, and the market is vulnerable to negative surprises. This is how I described the prior years, and I’m back to saying it again”) – but we do want to highlight the one section in which Marks talks about the ramification of the economic and markets rescue that was unleashed by the Fed and Treasury, and their implications: as Marks writes, “by dramatically lifting the markets, the Fed may have caused some people to believe that it will always do so – that there’s a “Powell put” that can be counted on to keep things humming.”

      Marks concludes, “if investors believe the Fed can always be counted on to keep the markets aloft, that will encourage dangerous behavior. And, anyway, it seems like an impossible task and, in my opinion, a questionable goal for the Fed.

      He is, of course, correct in his assessment that traders now believe that even a small dip in stocks will bring out the Fed – which is why there have barely been any dips since March, and he is also correct that this is an “impossible task”… but it won’t stop the Fed from trying.

      In any case, the question of the Powell Put was also the topic of a recent interview between Marks and Bloomberg’s Erik Shatzker, in which the Bloomberg anchor asked the Oaktree investor if “what is that is Jay Powell’s master plan: no more cycles.”

      Marks’ response is that “this can’t be achieved” and that he doubts that Powell “believes that he can eliminate cycles.” To this, Shatzker’s response cuts to the chase for the distressed investor who has benefited greatly from the Fed’s generosity, and points out that while United Airlines’ debt should trade at 60 cents, Shatzker observes that “thanks to the Fed it’s trading close to par”, and asks if it is possible “that the Fed will never allow any investment grade debt to trade down to 60 cents ever again.

      A meandering response from Marks followed, during which he recalled that Obama allowed GM and Chrysler to file for bankruptcy in 2009 – although one can counter that it did so by flipping the waterfall priority of bankruptcy claims on its head, as creditors were hit while labor unions came out relatively unscathed, the point being the very concept of bankruptcy is no longer applicable when an entire sector – such as airlines – is seen as too big to fail (something we know very well is already the case with banks courtesy of the 2008 financial crisis). Marks did concede that airlines (and cruise lines) could be smaller, and that since bankruptcy is one way of discharging owners contracts, this is one way of radically shrinking the sector. And yet, with the Fed refusing to even consider this possibility, it remains unclear just how the US economy can ever right-size itself, and we may have a paradox where completely worthless companies have their bonds trading at par even as the companies themselves go insolvent.

      The interview then veered into the topic we discussed two weeks ago when we pointed out how the surge in covenant-lite deals over the past decade have now lead to a “leveraged loan panic” and where Oaktree has emerged as one of the biggest players of the “open warfare” in pre-bankruptcy restructurings of cov-lite loans (which usually involves cram downs of other distressed investors). Addressing this issue, Marks said that investment firms have a duty to their clients to stick up for their interests and maximize returns, so they can’t “go easy” on other creditors in distressed negotiations.

      Echoing exactly what we said two weeks ago, Marks said that amid the scramble for yields, issuers removed virtually all covenant protections, and thus creditor defenses, which has made it “easier for aggressive people to pursue recoveries for themselves at the expense of other people.” Aggressive people like Oaktree, which as we noted previously had primed other creditors in the case of Trimark and Boardriders.

      There is more in the full interview…

      … While Marks’ full note is below (pdf link) and worth the read:

    • Morgan Stanley: The Soaring US Current Account Deficit Will Act As A Global Reflationary Impulse
      Morgan Stanley: The Soaring US Current Account Deficit Will Act As A Global Reflationary Impulse

      Tyler Durden

      Sun, 10/18/2020 – 18:40

      By Chetan Ahya, global head of economics at Morgan Stanley

      Mind the Gap

      The extraordinary policy response to the exogenous COVID-19 shock is one of the key reasons why we expect a V-shaped recovery and a return of inflation in this cycle. But that is not all. This policy response will also bring about a remarkable shift in the trend in the US saving-investment gap (or the current account deficit), widening beyond the stable range of 2-3% of GDP that it has been in over the past nine years. The US policy response and its transmission to the rest of the world via the current account deficit plays an important role in global reflation and supports our call for a synchronous recovery in 2021.

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      The large, ongoing fiscal expansion has led to a further decline in US public saving. The nature of the shock and the underlying income inequality issues have prompted policy-makers to opt for a policy response that is tilted towards transfers to households and measures to boost consumption. To contextualize how large these transfers were from the CARES Act, a University of Chicago study found that 76% of workers received more from claiming unemployment insurance than they would have gotten in wage compensation, with the median worker receiving at least 45% more.

      Aided by both the faster reopening of the economy and the unprecedented fiscal stimulus, consumer demand has rebounded sharply, with personal consumption expenditures expected to climb to 97.5% of pre-COVID-19 levels in September. With this V-shaped recovery, we expect a very different inflation outcome in this cycle too, which we peg as core PCE inflation moving through 2%Y on a sustained basis starting in 2022.

      In the last cycle, the Fed started to tighten monetary policy well before inflation rose to 2%Y and kept tightening even though inflation had not sustainably reached 2%Y. But this time around, the Fed has already telegraphed its shift to an average inflation targeting framework. As it aims for an overshoot of inflation, we are getting greater assurance that monetary policy will remain accommodative for some time.

      How will these policy responses shape the outlook for the saving and investment trends? Typically following recessions, public saving will decline but private saving rises as an offset, given the inherent uncertainty at the start of a downturn. The consensus view is that the deleveraging pressures will be intense in this cycle and hence we will most likely see a repeat of the post-2008 experience in which private saving will remain elevated for some time.

      But we view things differently. We have consistently argued that the state of the private sector balance sheets were healthier coming into the recession. Private debt/GDP levels had remained stable for some time and US households had completed their deleveraging cycle. A Fed that is committed to its average inflation goal will keep real rates lower for longer too in this cycle, which will provide greater incentives for the private sector to dis-save. We think that the trend of broad-based declines in saving has been set in motion, but how far it will go depends on how expansionary fiscal policy will be.

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      Additional fiscal stimulus post the elections, which our US public policy analyst highlighted in last week’s Sunday Start, is a possibility in three of the four post-election party configurations. COVID-19 has exacerbated the pre-existing income inequality trends in the US. Policy-makers will continue to focus their efforts on helping low-income households, suggesting that they will err on the side of running expansionary fiscal policy for longer.

      If more fiscal stimulus arrives, it will impart upside risks to the growth and inflation outlook and consequently lead to a further and more rapid widening in the current account deficit, particularly if the fiscal policy mix remains tilted towards transfers to households.

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      The widening current account deficit will be another factor in driving USD weaker, as our global macro strategy team forecasts. We believe that this set-up of continued low real rates and a widening current account deficit in the US will act as a reflationary impulse for the rest of the world, especially EMs, setting the global economy on a path towards a synchronous recovery in 2021.

    • "Die In A Fire": "Professional, Objective" Twitter Employees' Hatred Of Trump Exposed
      “Die In A Fire”: “Professional, Objective” Twitter Employees’ Hatred Of Trump Exposed

      Tyler Durden

      Sun, 10/18/2020 – 18:15

      Authored by Rick Moran via PJMedia.com,

      The controversy over Twitter trying to suppress the story about Hunter Biden’s emails showing that Joe Biden used the influence of the office of the vice president to assist his son’s business dealings is still raging. The social media platform continues to suspend the New York Post’s account and has told the paper that it won’t be restored until they delete the offending story.

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      But the war between Twitter and Trump has been ongoing and vicious. Employees of the company haven’t been shy about posting their hysterical hatred of the president and his supporters.

      New York Post:

      “GET HIM OUT,” posted a senior site reliability engineer on Aug. 18. “What a f–king baboon.”

      One manager with almost nine years on the job said he was quite keen to watch Biden “crush [Trump] in the election” and that he hoped the president would “be utterly humiliated while also suffering greatly from #COVID19.”

      In another post he fantasized about the president being put on a ventilator.

      He calls Trump “a f–king idiot” and the voters who elected him — “hysterically f–king stupid people.”

      It’s not just ignorant, incoherent criticism. Some employees have actually wished harm to the president — in direct violation of company posting policy.

      One Twitter engineering manager said Trump should “die in a fire” in a January 2017 tweet.

      A year later, he rang in the new year by saying “Happy 2018! Donald Trump is dead!”

      None of these comments have ever been flagged by Twitter or been subject to any other form of official sanction, even as the social-media giant dishes out discipline to others for sharing legitimate news stories that might hurt Biden. The company finally ordered the vicious tweet to be deleted on May 29 — years after being posted.

      Also against company policy is spreading unsubstantiated rumors, like the employee who wondered why the rest of the media wasn’t looking into the story that Melania Trump used to be a sex worker. The first lady successfully sued over that allegation, which may be one reason Twitter decided not to promote it.

      Twitter’s “head of integrity” Yoel Roth was infamously busted over a series of old tweets revealing him to be a die-hard Trump hater.

      In his posts, Roth — who helped author the policy update used by the company to flag and label posts from President Trump — compared White House officials to Nazis and Trump to a “racist tangerine.”

      The fact is, Twitter selectively enforces its rules about content. There has been plenty of anti-Trump content of questionable veracity that somehow or other managed to slip by the Twitter’s censors.

      But Twitter swears that doesn’t mean they’re biased in any way. Really.

      Twitter’s Chief Human Resources Officer Jennifer Christie said in a statement to The Post.

      “Our employees are professionals, and we require them to bring objectivity to their work regardless of their personal views. We will not be dissuaded from continuing to work to fairly and impartially enforce our rules.”

      Who’s trying to “dissuade” you from being fair? Sheesh.

    • 2020: Year Of The Black GOP Renaissance, Thanks To Trump
      2020: Year Of The Black GOP Renaissance, Thanks To Trump

      Tyler Durden

      Sun, 10/18/2020 – 17:50

      Authored by Paris Dennard via RealClearPolitics.com,

      Twenty-seven Black Republican candidates are running for Congress this election, and that is a good thing for the Republican Party, our political system, and our entire country. 

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      In 2016, when Republican National Committee (RNC) Chairwoman Ronna McDaniel headed the Michigan GOP, all the political pundits and pollsters wrote off the state as fly-over country and certainly did not think a Republican could do well there. And yet Donald J. Trump beat Hillary Clinton and won that diverse state. The investments and effective campaigning laid the foundation for 2020. 

      The RNC, in addition to running print ads in Black newspapers and hosting GOTV events from our Black Voices for Trump Community Centers, just launched a new seven-figure voter-contact initiative to directly target and engage with Black voters in urban communities all over the country, safely knocking on doors to get out the vote for President Trump.

      Today in Michigan, veteran businessman and rising GOP star John James is running to be the next U.S. senator from that state. After serving in the military for eight years and earning a Combat Action Badge and two Air Medals, James went on to become president of James Group International, growing the family business into a major trading partner in the Michigan auto industry. He knows what it takes to achieve the great American comeback for his state. John James and President Trump are two leaders made in the USA for this moment. 

      While James hopes to join South Carolina’s Tim Scott (pictured above) in the Senate, 26 Black Americans are running as Republican nominees to make history in the House of Representatives. Can you imagine how courageous you have to be to run in 2020 as a Black Republican, with all of the vitriol and cancel culture attempts from the radical liberal left?

      Whether it is Joe Biden saying “You ain’t black,” or MSNBC calling Black Republican candidates Burgess Owens and Kimberly Klacik part of a “modern day minstrel show,” these men and women are leaders who care, and who are inspired by another leader – a man who took the opposition head on, ignored pundits and pollsters who doubted him, and won. That leader is President Trump. 

      Hopefully, the mainstream media will report on these candidates as fairly and respectfully as they did the candidates who became known as “The Squad,” making them household names as well.

      Why not tell a different narrative, show there are Black Americans who think for themselves, care about their communities and are proud Republicans? 

      The following Black candidates are standing up for their values, standing up for their families, and deserve to be heard and not silenced or canceled because they are not running as radical liberals: Tamika Hamilton, Ronda Baldwin-Kennedy, Errol Webber, Aja Smith, and Joe Collins in California; Casper Stockham in Colorado; Byron Donalds, Carla Spalding, Vennia Francois, and Lavern Spicer in Florida; Angela Stanton-King in Georgia; Philanise White and Craig Cameron in Illinois; Rayla Campbell in Massachusetts; Kimberly Klacik in Maryland; John James in Michigan; Kendall Qualls and Lacy Johnson in Minnesota; Billy Prempeh in New Jersey; Laverne Gore in Ohio; Kathy Barnette in Pennsylvania; Charlotte Bergmann in Tennessee; Wesley Hunt, Wendell Champion, and Tre Pennie in Texas; Burgess Owens in Utah; and Leon Benjamin in Virginia.

      At the recent unveiling of his plan for Black economic empowerment known as the “Platinum Planin Atlanta, President Trump singled out these candidates running to join him in Washington to implement many aspects of this holistic plan for the Black community to help Make America Great Again, again!

      In Florida, GOP Rep. Byron Donalds said, “I’m everything the fake news media tells you doesn’t exist: A strong, Trump-supporting, gun-owning, liberty-loving, pro-life, politically incorrect Black man.” Raised in a single parent household in New York, he worked hard, earned a college degree in finance and marketing, and launched a career in the banking industry in Florida. The call to public service led him to the Florida State House, where voters got to know him and appreciate his conservative values. Donalds sits on five committees and chairs a subcommittee on insurance and banking. If there was ever a time to have someone in Congress who understands our economy and has earned the trust of his community, it is today. 

      This election, political elites will be reminded that the Republican Party is the original home of Black Americans and Black Republican congressmen. Remember, the first Black American to serve in the U.S. Senate was a Republican, Sen. Hiram Revels of Mississippi. From 1870 to 1935, the Black men who served in the House of Representatives were all Republicans. 

      Under President Trump the GOP is expanding and attracting more unlikely supporters in what we call “the silent majority.” The GOP is an open tent party, the party of Abraham Lincoln, the party of freedom, opportunity, justice and civil rights. We are a diverse party and President Trump welcomes everyone because he understands that leadership knows no color, and success knows no ethnic background. 

      Joe Biden believes Blacks are devoid of diversity so it would be hard, with his bigoted worldview, to understand that the 27 Black Americans running for Congress are doing so because they want to put America first; they want the Platinum Plan in place; they want to keep taxes low and expand opportunity zones; and they reject illegal immigration, open borders, and the Green New Deal. 

      These 27 incredible candidates want to help usher in the Great American comeback with their election and the reelection of Donald Trump. 

    Digest powered by RSS Digest

    Today’s News 18th October 2020

    • The American Revolution – The Sequel
      The American Revolution – The Sequel

      Tyler Durden

      Sat, 10/17/2020 – 23:30

      Authored by Jeff Thomas via InternationalMan.com,

      The US is the most observed country in the world. Since it’s the world’s current empire (and since it is beginning its death throes as an empire), it’s fascinating to watch.

      Those of us outside of the US watch it like Americans watch TV. It’s like a slow-motion car wreck that we observe almost daily, eager to see what’s going to happen next. We criticise the madness of it all, yet we can’t take our eyes off the unfolding drama. It has all the excitement of a blockbuster movie.

      • The national debt is, by far, the highest of any country in history.

      • The economic system is a house of cards, getting shakier every day.

      • The government has become mired in progress-numbing fascism and increasing collectivism.

      • The government is aggressively creating the world’s most organized police state.

      • The majority of the population have become wasteful, spendthrift consumers who apathetically hope that their government will somehow solve their problems.

      • The media consistently misrepresents international events, prodding the citizenry into accepting that the ongoing invasion of multiple other countries is essential.

      • The most popular candidates for president (both parties) are the candidates that are the most egotistical, out-of-control blowhards who preach provocative rhetoric rather than real solutions.

      Still, most Americans retain the hope that, somehow, it will all work out.

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      Hope Is a Desire, Not a Plan

      There are growing numbers of Americans who have accepted that the US is unravelling rapidly and is headed for a social, economic, and political collapse of one form or another.

      Some talk of a new revolution (but hopefully a peaceful one, of the Tea Party sort). Some imagine that, if they can store enough guns and ammunition in their homes, they might be able to make a stand against government authorities. Others mull over the idea of organised secession by some of the states. A small, but growing, number are quietly leaving for more promising destinations.

      Except for the last of these, most of the “hopes” are understandable, but any attempt at a “Second American Revolution” is unlikely to succeed.

      Why? Well, just for a start,

      • The power of the US state is far greater than that of King George III in the late eighteenth century.

      • The present US state would be fighting on its own ground, not some continent thousands of miles across the ocean.

      • The US state is committed to the concept that it dealt definitively (and forever) with the concept of secession between 1861 and 1865.

      But, for the sake of argument, let’s say that a breakup of the union, or complete removal and replacement of the government were possible in the US. What then?

      Well, unfortunately, here comes the really bad news for those who hope that the US could start over as the free nation it was in its infancy:

      • In the late eighteenth century, America was a largely agrarian collection of colonies. Colonists had to work hard just to survive, so the work ethic and self-reliance were paramount in the colonists’ makeup. They were a brave people who were accustomed to providing for themselves and physically fighting off those who would challenge them.

      • Colonists received no significant largesse from the British or local governments. No welfare, no social security, no Medicare or Medicaid, no benefits of any kind.

      • Colonists made their own daily decisions. They had no government schools or media telling them what to think or what choices to make. They relied on common sense and self-determination to guide their decisions and actions.

      Today, of course, the opposite is true. Less than 2% of Americans are involved in agriculture. A mere 9% are actually employed in the production of goods. They are rarely directly involved in their own physical protection (Most, if not all, combat is overseas and fought by defence contractors or those who voluntarily serve the military).

      Most Americans receive benefits of one type or another from their government. Most recipients regard these benefits as “essential” and could not get by without them.

      Most Americans receive their opinions from the media. Although this is not apparent to many Americans, it’s glaringly clear to those outside the US who can only shake their heads at the misinformation proffered by the US media and the wholesale acceptance of this “alternate reality” by so many Americans.

      But what bearing does this have on what the future would be for Americans if they were to become determined enough to either remove their entire government or, alternatively, for some states to secede?

      There have been many revolutions in the history of the world, both peaceful and otherwise. In the case of the American Revolution of 1776, the colonists themselves were largely self-contained as a people and possessed the ideal ethos to succeed as a productive country.

      But this has rarely been true in history. Whenever a people have been heavily dependent on the State in one way or another, they had become accustomed to receiving largesse at the expense of others. This is a major, major factor. Such a group is unlikely in the extreme to either produce or elect a Washington or a Jefferson. They almost always choose, instead, to fall in behind someone who promises largesse from the State. In choosing such leaders, the people are more likely to receive a Robespierre or a Lenin. Out of the frying pan and into the fire.

      The pervasive difficulty here lies in the erroneous concept that there can be a return to freedom whilst maintaining the dependency upon largesse from the State. The two are mutually exclusive. Those who seek a return to greater freedom must also accept that “freedom for all” means an end to the State being empowered to steal from one person in order to give to another.

      Or, as stated by Frédéric Bastiat in the mid-nineteenth century, “Government is the great fiction, through which everybody endeavours to live at the expense of everybody else.”

      Whether the US continues on its present downward progression, or if it breaks free in a bid for greater freedom, the eventual outcome is likely to have more to do with the collectivist mindset of the majority than with the libertarian vision of a few.

      *  *  *

      Right now, the US is the most polarized it has been since the Civil War. If you’re wondering what comes next, then you’re not alone. The political, economic, and social implications of the 2020 vote will impact all of us. That’s exactly why bestselling author Doug Casey and his team just released this urgent new video about how to prepare for what comes next. Click here to watch it now.

    • Watch Next-Gen Sikorsky-Boeing Helicopter Conduct "Rigorous Flight Test At High Speeds"
      Watch Next-Gen Sikorsky-Boeing Helicopter Conduct "Rigorous Flight Test At High Speeds"

      Tyler Durden

      Sat, 10/17/2020 – 23:00

      A little more than a year ago, we brought the Sikorsky-Boeing SB-1 Defiant to the attention of our readers, outlining how this “advanced aircraft” was on track to become the US Army’s next helicopter.

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      The Defiant is set to replace the iconic UH-60 Black Hawk and Apache attack helicopters in the coming years. Here is the development timeline and potential dates of the new aircraft entering operating capability with the service. 

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      In 2019, readers saw the first round of flight tests of the new helicopter. While it only hovered several dozen feet above the ground, the test did not show the aircraft conducting high speeds and impressive flight maneuverability, until now: 

      The Sikorsky-Boeing team continues to make significant progress as we advance DEFIANT’s rigorous flight test program. With every flight, as we continue to increase DEFIANT’s speed, angle of bank, and climb rate, we are gathering important data, expanding our speed and maneuverability envelope, and validating our modeling and simulation tools.

      On Oct. 12, with only about two-thirds prop torque and engine power, DEFIANT achieved 211 knots straight and level and 232 knots in a descent. We are excited about the results we are seeing and what the future holds to bring this capability to the warfighter. – read a description of SB1 Defiant’s YouTube channel

      Here’s the newly released video of the next-generation helicopter traveling at 266 mph. 

      Here’s the first test flight (2019) of Defiant. 

      Flush with cash, the Pentagon has been on a spending spree to modernize its services. President Trump has repeatedly bragged about spending more than $2.5 trillion on the military. 

      As for the other weapon upgrades, the Pentagon has spent billions of dollars on, well, we’ll list a few below:

    • Before The Bidens "Did" Ukraine, There Was Iraq… And Serbia
      Before The Bidens "Did" Ukraine, There Was Iraq… And Serbia

      Tyler Durden

      Sat, 10/17/2020 – 22:30

      Authored by James George Jatras via The Strategic Culture Foundation,

      The United States approaches the November 2020 election with growing apprehension, even dread.

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      Among the possibilities:

      For those who have followed events outside the United States during the past few decades, much of this sounds familiar. We’ve seen it before – inflicted on other countries.

      Now It’s Coming Home to the U.S.

      As explained by Revolver News, what happens in America next to a great extent may be a form of blowback from a specific event: the U.S.-supported 2014 regime change operation in Ukraine:

      ‘A “Color Revolution” in this context refers to a specific type of coordinated attack that the United States government has been known to deploy against foreign regimes, particularly in Eastern Europe deemed to be “authoritarian” and hostile to American interests. Rather than using a direct military intervention to effect regime change as in Iraq, Color Revolutions attack a foreign regime by contesting its electoral legitimacy, organizing mass protests and acts of civil disobedience, and leveraging media contacts to ensure favorable coverage to their agenda in the Western press.

      ‘It would be disturbing enough to note a coordinated effort to use these exact same strategies and tactics domestically to undermine or overthrow President Trump. The ominous nature of what we see unfolding before us only truly hits home when one realizes that the people who specialize in these Color Revolution regime change operations overseas are, literally, the very same people attempting to overthrow Trump by using the very same playbook. Given that the most famous Color Revolution was the [2004] “Orange Revolution” in the Ukraine, and that Black Lives Matter is being used as a key component of the domestic Color Revolution against Trump, we can encapsulate our thesis at Revolver with the simple remark that “Black is the New Orange.”

      This hardly should come as a surprise. The same government agencies and their corporate, NGO, and think tank cronies that are now weaponizing Black Lives Matter, Antifa, other Wokesters, and military putsch plotters here at home to remove Trump have turned regime change abroad into an art form. Ukraine was one of their signal successes, featuring a cast of characters later key to the failed “Ukrainegate” impeachment.

      Another consequence of regime change: corruption. As the old saying goes, any idiot can turn an aquarium into fish soup, but no one has yet figured out how to reverse the process. Once a country gets broken it tends to stay broken, whether the “breaking” is accomplished by military means (Serbia 1999, Iraq 2003, Libya 2011) or by a color revolution from the streets (Serbia 2000, Georgia 2003, Ukraine 2004-2005 and again in 2014, Kyrgyzstan 2005, Lebanon 2005, Armenia 2018, plus many others of varying degrees of success, and failures in Iran, Russia, Venezuela, China (Hong Kong), and Belarus). With the target nation’s institutions in shambles, the dregs take over – in Libya, for example, even to the point of reintroducing trade in sub-Saharan African slaves, whose black lives evidently don’t matter to anyone at all.

      Iraq: Crush, Corrupt, Cash In

      Finally, once regime change occurs and corruption is rampant, another shoe drops: foreign vultures descend on the carcass, profiteers who in many cases are the very same people that helped to create the chaos on which they are cashing in. Invariably, these carpetbaggers are well-connected individuals in the aggressor states and organizations positioned on the inside track both for the carve-up of the target country’s resources and (the word “hypocrisy” doesn’t begin to describe it) for funds to implement “reform” and “reconstruction” of the devastated target.

      The showcase of this scam, pursuant to Colin Powell’s reported “Pottery Barn Rule” (You break it, you own it) was the money ostensibly spent on rebuilding Iraq, despite assurances from the war’s advocates that it would pay for itself. With the formal costs conservatively set at over $60 billion to $138 billion out of a tab for the war of over two trillion dollars, the lion’s share of it went to U.S. and other vendors, including the notorious $1.4 billion no-bid contract to Halliburton subsidiary KBR, of which then-Vice President Dick Cheney, a major proponent of the war, had been a top executive. (“Rand Paul Says Dick Cheney Pushed for the Iraq War So Halliburton Would Profit.”)

      In Ukraine, Biden’s Son Also Rises

      The predatory cronyism vignette most pertinent to the Black/Orange regime change op now unfolding before us with the intent of installing Joe Biden in the Oval Office is that of his son, Hunter, and a Ukrainian energy company with a sketchy reputation, Burisma Holdings. (Right at the outset, even some of Hunter’s associates though the gig with Burisma was too “toxic” and broke off ties with him.) Though ignored or dismissed as fake news and a conspiracy theory by Democrats and legacy media (or do I repeat myself?), the facts are well enough known and fit the Iraq pattern to a T: then-Vice President Joe Biden pushed for regime change in Ukraine, which succeeded in February 2014 with the ouster of the constitutionally elected president, Viktor Yanukovych. In April 2014, Joe Biden’s son, Hunter, was brought onto Burisma’s board (along with a fellow named Devon Archer, later convicted of unrelated fraud) at an exorbitant level of compensation that made little sense in light of Hunter’s nonexistent expertise in the energy business – but which made plenty of sense given that his dad was not only Veep but the Obama administration’s point man on policy toward Ukraine, including foreign assistance money. [NOTE: It now has come out that in 2015 Hunter put his dad, the U.S. Vice President, in direct contact with Burisma, news the giant tech firms sought to suppress on social media.]

      When a troublesome Ukrainian prosecutor named Viktor Shokin seemed to be taking too much interest in Burisma, Papa Joe came to the rescue, openly threatening the western-dependent politicians installed after Ukraine’s 2014 color revolution with withholding of a billion dollars in U.S. aid until Shokin, whom Joe unironically alleged to be “corrupt,” got the heave-ho. As Tucker Carlson nails it, Shokin’s ouster followed a direct request from Burisma’s Clinton-connected PR firm, Blue Star Strategies, to Hunter to lobby his dad to get Shokin off their back. Joe did just what was asked. He later bragged: “I said, ‘You’re not getting the billion. I’m going to be leaving here [i.e., Kiev] in, I think it was about six hours.’ I looked at them and said, ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money.’ Well, son of a bitch. He got fired.”

      But First There Was Serbia

      Today many people remember Iraq, some have a clue about Ukraine. But Serbia, which preceded them, is off the radar screen of most Americans. To recap:

      As a Senator in the 1990s, Joe Biden was one of the most militant advocates of U.S. military action against Serbs during the breakup of the Yugoslav federation, first in Croatia (1991-95), then in Bosnia (1992-95), and then in Serbia’s province of Kosovo (1998- 1999). (As has been said about others like Hillary Clinton and the late John McCain, Biden evidently has never met a war he didn’t like. Along with Hillary, in 2003 Biden helped to whip Senate Democrat votes for the Bush-Cheney Iraq war.) Channeling his inner John McCain, Biden continually called for the U.S. to bomb, bomb, bomb bomb the Serbs while (in a foreshadowing of the Obama-Biden administration’s support for jihad terrorists in Libya and Syria, which ultimately resulted in the appearance of ISIS) pushed successfully for sending weapons to the Islamist regime in Bosnia and then for the U.S. to arm the Islamo-narco-terrorist group known as the “Kosovo Liberation Army” (KLA).

      Joe Biden was the primary sponsor of the March 1999 Kosovo war authorization for military action against Serbia and Montenegro, S. Con. Res. 21. (As a little remembered historical note, Biden’s resolution might be seen as the last nail in the coffin of Congress’s constitutional war power. While S. Con. Res 21 passed the Senate, it failed in the House on a 213-213 tie vote, with Republicans overwhelmingly voting Nay. It didn’t matter. Bill Clinton, reeling from the Lewinsky scandal, went ahead with the bombing campaign anyway.) The ensuing 78-day NATO air operation had little impact on Serbia’s military but devastated the country’s infrastructure and took hundreds of civilian lives. (Even now, more than 20 years later, Serbia suffers from elevated cancer levels attributed to depleted uranium munitions.) But for Jihad Joe even that wasn’t punishment enough for people he collectively demonized as “illiterate degenerates, baby killers, butchers, and rapists.” In May 1999, at the height of the NATO air assault, he called for the introduction of U.S. ground troops (“we should announce there’s going to be American casualties”) followed by “a Japanese-German style occupation.”

      Eventually the bombing stopped in June 1999 when then-Serbian strongman Slobodan Milošević acceded to temporary international occupation of Kosovo on the condition that the province would remain part of Serbia, as codified in United Nations Security Council Resolution 1244. It was a promise the U.S. and NATO, not to mention their European Union (EU) concubine, had no intention of keeping. Under the nose of the NATO occupation, ostensibly demobilized KLA thugs were given virtually free rein to terrorize the Serbian population, two-thirds of whom were driven out along with Jews and Roma, the rest sheltering in enclaves where they remain to this day. Orthodox Christian churches and monasteries, many of them centuries old, were particular targets for destruction and desecration. KLA commanders – who were also kingpins in the Kosovo Albanian mafia dealing in sex slaves, drugs, weapons, and even human organs – were handed local administration.

      In 2007 Senator Biden praised the new order as a “victory for Muslim democracy” and “a much-needed example of a successful U.S.-Muslim partnership.” A year later, the Bush administration sought to complete the job by ramming through Kosovo’s independence in barefaced violation of UNSCR 1244 and despite strong Russian objections. But instead of resolving anything the result was a frozen conflict that persists today, with about half of the United Nations’ member states recognizing Kosovo and half not. Touting itself as the most pro-American “country” [sic] in the world, the Kosovo pseudo-state became a prime recruiting ground for ISIS.

      But hey, business was good! Just as in Iraq, the politically well-connected, including former officials instrumental in the attack on Serbia and occupying Kosovo, flocked to the province fueled by lavish aid subsidies from the U.S. and the EU, which for a while made Kosovo one of the biggest per capita foreign assistance recipient “countries” in the world. One such vulture – sorry, entrepreneur – was former Secretary of State Madeleine we-think-a-half-million-dead-Iraqi-children-is-worth-it Albright, a prominent driver of the Clinton administration’s hostile policy on top of her personal Serb-hatred. Albright sought to cash in to the tune of hundreds of millions of dollars on sale of the mobile telephone company PTK, originally a Yugoslav state-owned firm that was “privatized” (i.e., stolen) in 2005 as a joint stock company, but who later dropped her bid when it attracted unwanted publicity. Also in the hunt for Kosovo riches was former NATO Supreme Commander and operational chief of the Kosovo war General Wesley Clark, who reportedly cornered a major share of the occupied province’s coal resources under a sweetheart deal that seems to have vanished from public scrutiny since first reported in 2016.

      At the moment there seems to be no smoking gun of a direct Biden family payout, à la Ukraine, but there is a possible trail via Hunter’s Burisma-buddy Devon Archer and Archer’s fellow-defendant John “Yanni” Galanis, who in turn is connected to top Kosovo Albanian politicians. In any case, the Biden clan seems to have paid a lot of attention to Kosovo for not having skin in the game. Joe’s late son and Delaware Attorney General, Beau, worked in Kosovo following the war to train local prosecutors as part of an OSCE (Organisation for Security and Cooperation in Europe) “rule of law” mission (admittedly a big task in a mafia-run pseudo-state), for which a road was named after him near the massive U.S. base Camp Bondsteel. With Hunter on hand for the naming ceremony, Joe Biden took the opportunity to express his “condolences” to Serbian families who lost loved ones in the NATO air assault – of which he was a primary advocate.

      A ‘Shokin’ Demand  

      Perhaps the best parallel between Biden’s handiwork in Ukraine and his interest in Kosovo also relates to getting rid of an inconvenient individual. But in this case, the person in question wasn’t a state official like Burisma prosecutor Viktor Shokin but a hierarch of the Serbian Orthodox Church.

      In May 2009 Vice President Biden insisted on visiting one of Kosovo’s most venerable Serbian Orthodox Christian sites, the Visoki Dečani monastery. Ruling Bishop Artemije of the Eparchy of Raška and Prizren, which includes Kosovo and Metohija, refused to give his blessing for the visit, in effect telling Biden he was not welcome. Bishop Artemije long had been a bane of Biden and others advocating detachment of Kosovo from Serbia, starting with his first mission to Washington in 1997 as war clouds gathered. In 2004 Bishop Artemije sued the NATO powers in the European Court of Human Rights in Strasbourg following their inaction to protect his flock during an anti-Serbian rampage by Muslim Albanian militants in March of that year. Then, in March 2006, as preparations were underway for a “final solution” to the Kosovo issue, Bishop Artemije launched an intensive multinational lobbying and public relations effort (in which Yours Truly was the lead professional) to try to derail the U.S. policy to which Biden had devoted so much attention. While the Bishop’s campaign was unsuccessful in reversing U.S. policy it was instrumental in delaying it for over a year – to howls of outrage from Biden’s associates in Washington. Thus, for Biden, the monastery visit snub by Bishop Artemije was adding insult to injury.

      The end for Bishop Artemije came a few months later, at the beginning of 2010 at the time of two visits to Kosovo by U.S. Admiral Mark P. Fitzgerald, then Commander, U.S. Naval Forces Europe and Africa, and Commander, Allied Joint Force Command (JFC) Naples, (who retired later that year, becoming, unsurprisingly, a consultant “with numerous defense and commercial maritime and aviation contractors”). At that time, an unconfirmed report indicated that a high NATO officer (whether Admiral Fitzgerald or someone else is not specified) stated in the course of one of his local meetings (this is verbatim or a close paraphrase): “What we need here is a more cooperative bishop.” (More details are available here. Since that posting last year the NATO command in Naples seems to have scrubbed the items about Fitzgerald’s 2010 visits from their site.)

      Shortly afterwards, Biden’s troublesome priest was forcibly removed by police and exiled from his see, without ecclesiastical trial, by Church authorities in Belgrade under pressure from compliant Serbian politicians installed after the October 2000 color revolution, in turn pressured by NATO. The pretext? Transparently baseless charges of financial wrongdoing. In other words, bogus accusations of “corruption” – like against Ukraine’s Shokin.

      One could almost hear Joe Biden chortle: “Well, son of a bitch. He got fired.”

      But Look at the Bright Side…

      Back to the incipient coup facing the United States, there should be no illusion that what’s at stake in the unfolding scenario for the removal of Donald Trump is not just his presidency but the survival of the historic American ethnos of which he is seen as an avatar by both his supporters and detractors. Remember, we’re dealing with predators and scavengers who are happy to burn the old, evil America down as long as they can achieve total power and continue to feather their cushy nests. Short of a blowout Trump victory by a margin too big to hijack, we’re headed for a dystopian state of affairs.

      If they do manage to remove Trump, “by any means necessary,” and Joe Biden takes the helm, we can anticipate a bevy of globalist warmonger appointees that make Trump’s team look like disciples of Mahatma Gandhi. Among the names floated like Nicholas BurnsAntony BlinkenMichele FlournoyEvelyn Farkas, and Anne-Marie Slaughter, all were on board with Bosnia, Kosovo, Iraq, Libya, Ukraine, Syria … [NOTE: The Atlantic Council, known as NATO’s semi-official think tank in Washington and which will be instrumental in staffing a future Joe Biden administration, also has been the beneficiary of generous donations from Hunter Biden’s paymaster, Burisma.]

      It’s a recipe for wars, regime changes, and color revolutions galore.

      But to finish on a positive note, the potential future business opportunities will be endless!

    • Visualizing The World's Gold & Silver Coin Production Vs. Money Creation
      Visualizing The World's Gold & Silver Coin Production Vs. Money Creation

      Tyler Durden

      Sat, 10/17/2020 – 22:00

      Both precious metals and cash serve as safe haven assets, intended to limit losses during market turmoil. However, as Visual Capitalist’s Jenna Ross notes, while modern currencies can be printed by central governments, precious metals derive value from their scarcity.

      In this infographic from Texas Precious Metals, we compare the value of the world’s gold and silver coin production to global money creation.

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      Total Production Per Person, 2019

      We calculated the value of global currency issuance in 2019 as well as precious metal coins minted, and divided by the global population to get total production per person.

      Throughout, global money supply is a proxy based on the 5 largest reserve currencies: the U.S. dollar, Euro, Japanese Yen, Sterling Pound, and Chinese Renminbi.

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      The value of new global money supply was 600 times higher than the value of gold coins minted, and 3,700 times higher than silver coins minted.

      Put another way, for each ounce of minted gold coin, the global money supply increased by more than $908,000.

      Change in Annual Production, 2019 vs. 2010

      Compared to the start of the decade, here’s how annual production levels have changed:

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      Annual increases to global money supply have increased by one-third, far outpacing the change in the world’s gold and silver coin production.

      Even more recently, how has production changed during the COVID-19 pandemic?

      The COVID-19 Effect

      In response to the global pandemic, central banks have enacted numerous measures to help support economies—including issuing new currency.

      The global money supply increased by more than $11.8 trillion in the first half of 2020. In fact, the value of printed currency was 1,600 times higher than the value of minted gold coins over the same timeframe.

      Investors may want to consider which asset is more vulnerable to inflation as they look to protect their portfolios.

      Want to learn more? See the U.S. version of this graphic.

    • The World's Most Bearish Hedge Fund Just Did Something It Hasn't Done In 8 Years
      The World's Most Bearish Hedge Fund Just Did Something It Hasn't Done In 8 Years

      Tyler Durden

      Sat, 10/17/2020 – 21:33

      At the start of 2012 Horseman Global did something which virtually none of its peers dared or would dare to do: it took its formerly 100% equity net long exposure to deep net short, launching an 8 year period in which the fund would be bearish month after month on stocks, yet as the monthly P&L table below shows, it also manged to generate impressive annual returns over this same period (with the exceptions of 2016 and 2019) despite constant central bank intervention pushing stocks relentlessly higher, largely thanks to the Fund’s significant bond long position.

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      Yet after a dismal 2019, in which fund CIO Russell Clark finally met his match in Powell as it full-on fought the Fed and the Fed won, resulting in a 35% drop last year, things changed dramatically at Horseman, which has since rebranded itself as Russell Clark Investment Management.

      First, as we reported back in April, the fund suddenly ditched its long-running bet on deflation, with Clark saying he used the opportunity offered by the Covid-19 crisis “to exit deflationary positions. We have sold all our government bonds, and I am now trying to short assets that have benefited from very low interest rates, wages and commodity prices, namely commercial property, restaurants and utilities (and potentially private equity).”

      And yet, the fund was still net bearish on stocks, because as Clarke explained, “if inflation appears, then US markets are in big trouble. For me, the 1970s and stagflation beckons. Short bonds and long commodities look right, with a bias to shorting US equities. I see inflationary assets outperforming deflationary assets.”

      Fast forward six months later, when things aren’t working out quite as expected because in a year that had seen wild swing in the fund’s P&L, September proved to be the worst month of 2020 for Clark, with the fund losing 9.25%, and cutting its return for the year by more than half to 8.75%. Worse, it also meant that the AUM for the Russell Clark Investment Management strategy had dropped to just $100 million, from $150MM at the start of the year. 

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      … and was less than 20% of what it was at the start of 2019, which with a -34.9% return, would end up the worst year on record for Clark (in May of 2019, Bloomberg profiled Clark saying he is “betting it all on a market crash“, which did in fact materialize… unfortunately several months too late to help the hedge fund CIO).

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      But what we find most notable is that sometime in the past few months, Horseman, pardon Russell Clark, underwent a historic position and sentiment shift and after 8 years of being net short, the fund is now back on the bullish bandwagon with a 23.2% net long position (with no exposure to bonds).

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      So what happened?

      Well, as is customary, Russell first gives a big picture view of what is going on in the hedge fund world, where it is hardly a secret, nothing works any more as central banks flipped the market on its head in their nuclear bomb response to the covid pandemic, and handed it to 16-year-old Robinhood daytraders on a silver platter. Needless to say, that made chasing momentum and consensus positioning critical, and crushed any contrarians who shied away from the herd. Sadly for Clark, he was among them, and the result has been a rollercoaster for both the fund, and Clark’s investment positioning, with the fund manager claiming that Covid-19 not only “allowed central banks to short circuit the natural de-leveraging process”, but also “literally turned the world upside down” making it extremely difficult for Clarke to “develop new ideas.”

      Your fund lost 9.25% this month, from the long book and the currency book.

      My big thing, for what it is worth, is finding something that no one else knows about and then building a fund around that. Ideas like Ireland was not going to default on its bonds, or iron ore prices were going to fall, shale oil drillers will never make any money or mall REITS are shorts. Simple ideas, which you can then build structures around, that both make money and fill an investment need for clients. For that reason, I have tended to shy away from consensus ideas and momentum, unless it explicitly fits in with that big idea.

      In the last couple of years, the big idea was that clearinghouses were mispricing risk, market products that sold volatility would cause volatility to spike, and that this should result in a lot of financial bankruptcies and a significantly lower stock market. Covid-19 caused this to come to fore, but also allowed central banks to short circuit the natural de-leveraging process that would have occurred as a result. Usually I have a few ideas on the go, so that I can naturally move from one idea to another, but Covid-19 literally turned the world upside down, and so I have had to push myself harder than usual this year to develop new ideas.

      So what is the one unifying idea behind Clark’s latest trades? As he says, “now the simple idea is that inflation is coming. All the inflation indicators that I look at; things like the Australian dollar, the Nikkei, Japanese Government Bond yields, the Transport index, Chinese Yuan and the CRB Raw Industrial Index, all say inflation but the loss in the fund this month says otherwise.”

      In terms of specific trades, Clark had focused on the nat gas market whose rebalancing he thought was “signalling inflation.”

      And certainly, there are signs of change there – but I can’t help noticing that it is Asian bond yields that are rising, not US bond yields, which is where you would think a rebalancing natural gas market would affect first.”

      Perhaps there is a better place to bet on rising prices: Food.

      Towards the end of the month, I revisited my presentations and noticed that Chinese pork prices have been very strong and are at 6 times that of the US. Can Chinese food prices really cause inflation in the rest of Asia? The answer is probably yes, but whether that will be bad inflation or good inflation is hard to tell. Naturally, high food prices are negative for consumption, but Asia has more farmers than anywhere else in the world, and high crop prices have tended to create consumption booms in places like India, Indonesia, and the rest of ASEAN. If China starts to increase imports of food from Asia, it could be very economically beneficial.

      Still, as Asian bond yields have made it clear, “higher food price will cause bond yields to rise” according to Clark who adds that “food and food prices have been at the heart of every major Chinese revolution and crisis for the last 150 years. For that reason, I expect Chinese rates to stay high, and for the Chinese Yuan to keep appreciating.”

      In short, Clark “started the month thinking that oil and gas prices were going to drive inflation, and ended the month thinking it will be food inflation.” He is hardly alone, because as he noted, food exporting currencies are performing “surprisingly well, and food related stocks trading much better than oil and gas names.”

      One key anchor to the fund’s new food inflation obsession comes from none other than Warren Buffett according to Clark, who explains as follows:

      To answer one final question, how do I know that no one knows about food inflation? Well I just read a long article in The Economist, trying to understand why Warren Buffett bought the Japanese trading houses. The Economist had no idea of course. Japanese trading houses are the number one companies to benefit from food inflation in Asia. That is, I believe, why. If you don’t believe me, start googling about businesses that export pork, bananas or any other major food. We are moving to a portfolio that is long food, short bonds.

      One small caveat: last week we wrote “Food Shortage Simulation Predicts 400% Increase In Food Prices By 2030“, so to say that “no one knows about food inflation” may be a bit of a stretch.

      Finally, Clark’s latest dramatic portfolio reassessment means that “starting late September, and continuing in October”, Clark is “moving our commodity longs to food related names.” This is likely good news for the fund’s remaining LPs as it also means is that Clark “can focus the fund down to fewer names on both the long side and short side, as I now have a better idea of what is going on, which should reduce volatility going forward.”

      Two final observations: while the fund is net long some of the most inflation-sensitive sectors such as financials, basic materials, industrials and energy, it remains short the covid-impacted industries such as restaurants and transports; and while we assume the tech short is just a bet on mean reversion, the substantial short in utilities is just another way for the fund to go short Treasuries.

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      Finally, in terms of geographic positioning, one can summarize Clark’s latest view simply as “long Asia, short the US.”

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    • Beijing Views US Consulates As "Hostile Forces", Orders Monitoring Of Diplomats: Leaked Documents
      Beijing Views US Consulates As "Hostile Forces", Orders Monitoring Of Diplomats: Leaked Documents

      Tyler Durden

      Sat, 10/17/2020 – 21:30

      Authored by Eva Fu via The Epoch Times,

      Chinese authorities see U.S. consulates as “hostile forces” that conduct “infiltration and sabotage” activities on Chinese soil and have ordered officials to monitor key U.S. diplomats, according to a leaked document obtained by The Epoch Times.

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      In a four-page “work plan” dated April 2018, the Leizhou Foreign and Overseas Chinese Affairs Bureau described the “U.S. and other Western consulates in China” as key targets that could threaten the region’s political and social stability.

      At a time when bilateral relations hit a historical low, the document from Leizhou city of China’s southeastern Guangdong Province offers a rare glimpse into how the Chinese regime deals with American diplomats.

      All departments and units within the bureau must work to counter such influences, by effectively “blocking [the consulates] from establishing connections with key [Chinese] political figures, prominent lawyers, ‘public intellectuals,’ ‘rights defenders,’ and special interest groups,” the bureau told its staff.

      The bureau’s goal is to “break all threats and nets” and leave no room for such attempts, the document stated.

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      A policeman stands guard in front of the U.S. consulate in Chengdu, southwestern China’s Sichuan province, on July 26, 2020. (Noel Celis/AFP via Getty Images)

      Methods

      To address the perceived threats, the bureau outlined a four-step plan, with measures such as watching for “infiltration activities” organized by foreign consulates in Guangzhou city, the capital of Guangdong, and “use all efforts”—including “reminders, warnings, and a mild degree of force”—to discourage the aforementioned individuals from attending events held by consulates.

      The bureau staff were to monitor organizations and individuals that have “close ties” with the foreign consulates, and gather any relevant information, such as their background and any changes in their “asset accounts,” to cut off any “financial enticements” from U.S. consulates.

      The office also planned to establish a database on “key” foreign diplomats in China and use big data to track down their whereabouts. “It’s a countermeasure against ongoing infiltration and subversion,” the document stated.

      The bureau cautioned the staff to be “strategic” in balancing between “prevention and control” and “collaboration and taking advantage.”

      Given that Guangdong borders Hong Kong, the bureau also detailed in a separate section how staff should guard against any “contamination” from “opposition forces.” The “pro-independence elements” may attempt to “sneak in” through participating in cultural exchange programs and inviting Chinese scholars to Hong Kong and convert them into “domestic agents,” it warned.

      A former British colony, Hong Kong returned to Chinese rule in 1997 and was promised a high degree of autonomy, which the regime stripped away this July with a sweeping national security law. The Chinese Communist Party routinely characterizes Hong Kong pro-democracy activists who are vocal about Beijing’s encroachment on the city’s affairs as separatists, and accuse them of supporting the territory’s independence from the mainland.

      It stressed that in the event such opposition forces “really need to enter” Guangdong, they must be strictly monitored and prosecuted if they exhibit any problematic behaviors. The document also stated plans to collaborate with relevant higher government departments in Hong Kong, such as by supplying intelligence, to eliminate any of Hong Kong’s “negative influences” on Guangdong.

      The document ended by stating the “counter-infiltration” work would be on the daily agenda. The bureau formed a “leadership team” comprising top officials, including the bureau director, to take up this task.

      The U.S. State Department did not immediately return an inquiry regarding the leaked document.

      Interrupted Academic Exchanges

      While the document focused primarily on Guangdong, it is unclear whether other Chinese cities have issued similar orders.

      A separate internal document from 2016 suggested that Chinese authorities have oversight over how local academic institutions can interact with U.S. diplomats.

      In an August 2016 meeting with top officials in northeastern Jilin province, then-U.S. ambassador to China Max Baucus raised concerns about consular access to multiple Chinese universities, citing abrupt cancelations of scheduled conferences with U.S. consular officials in the nearby city of Shenyang, according to a government meeting minutes provided to The Epoch Times.

      Wang Zhiwei, then-director of the Jilin foreign affairs office, blamed the timing of the conference, saying that students were all on summer vacation and thus, wouldn’t be able to attend; then-Jilin governor Jiang Chaoliang, in turn, replied that any activities that “don’t endanger China’s national security” and “spread positive energy should be fine.”

      “I want to clarify that there shouldn’t be any issue with our university visits. There are no subversion activities,” Baucus had told Jiang during the meeting. ” He then asked Jiang to “urge the institutions not to reject interacting with us.”

      Calls for Reciprocity

      The United States has decried a lack of reciprocity when it comes to diplomatic interactions with the Chinese regime.

      On Sept. 10, Secretary of State Mike Pompeo called out Beijing’s “hypocrisy” after Chinese state media People’s Daily rejected an op-ed drafted by then-U.S. Ambassador to China Terry Branstad. Pompeo cast the state newspaper’s reasoning as “a litany of grievances.”

      “The People’s Daily’s response once again exposes the Chinese Communist Party’s fear of free speech and serious intellectual debate–as well as Beijing’s hypocrisy when it complains about lack of fair and reciprocal treatment in other countries,” he said in a statement.

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      A worker attempts to remove the wall insignia of the US Consulate in Chengdu, southwestern China’s Sichuan province, on July 26, 2020. (Noel Celis/AFP via Getty Images)

      The two countries have imposed restrictions on each other’s diplomatic missions since July, after the State Department moved to shut down the Chinese consulate in Houston over espionage concerns. In retaliation, Beijing closed the U.S. consulate in Chengdu, capital of Sichuan Province.

      On Sept. 2, Pompeo announced that senior Chinese diplomats in the United States will have to ask permission to visit U.S. college campuses and meet with local officials.

      “We’re simply demanding reciprocity. Access for our diplomats in China should be reflective of the access that Chinese diplomats in the United States have,” he told a news briefing on Sept. 2.

      The Chinese foreign ministry responded by applying restrictions on the U.S. Embassy in Beijing and consulates across China, including the one in Hong Kong.

    • California Is Blaming Its Crippled Economy On Climate Change
      California Is Blaming Its Crippled Economy On Climate Change

      Tyler Durden

      Sat, 10/17/2020 – 21:05

      With mass exodus occurring from California and the state on the verge of going broke, Democrats aren’t blaming their decades old misunderstanding of economics – but rather are using climate change as the scapegoat. 

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      California is now turning to wildfires that have made their way through 4.1 million acres in the state to lay blame as to the state’s worsening financial state. The fires have cost just $1.1 billion to battle over the last three years, a relatively small sum for such a large state, according to Bloomberg.

      But, with the pandemic throwing a true wrench into the gears of the state’s economy – and the state’s residents leaving at an alarming clip – the state needs to blame its $54 billion hole in its budget on something. 

      Scott Anderson, Bank of the West’s chief economist, said: “Policy action in the next one to five years would be optimal, and probably sooner rather than later to move the economy in the right direction. Otherwise we’re going to be facing a pretty bleak economic future here in California.”

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      Anderson says the reversal of fortune for the state’s finances should be a “wake up call” about the impacts of climate change. We wonder if he’s ever heard of less government spending. 

      He also predicts the fires, coupled with Covid, will push the state’s unemployment rate to 10.4% this year and 8.8% in 2021. Those numbers are higher than the current forecasts of 8.4% and 6.9%. He said the trend of people leaving the state could be “more prolonged” than in the last recession.

      Patricia Healy, senior vice president of research at Cumberland Advisors, said that the wildfires: “may have inhabitants, insurers, and government questioning the viability of living there and continually rebuilding.” She also thinks the rise in “work from home” as a result of Covid will drive people out of the state.

      The time to up and leave may never get better. The state has somehow managed to maintain its credit rating and sellers are able to get massive sums for their homes if they decide to pick up and leave: median home prices in August hit $706,900, a record. 

      Gavin Newsom, who is overseeing the exodus, said last week: “This state six, seven months ago was dominating in so many different sectors. Those core tenets of this state remain still as alive and enlivened as they ever have been despite some of these situational challenges that we face.”

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      The state is spending about $205 million in fire prevention and management programs this year, which is down from $354 million in the prior year. Ironically, the big government Democrats in the state seem to want massive government spending on everything but the “climate change caused” problem of wildfires. 

      The fire trends in the state are “only expected to intensify,” according to Bloomberg. About 69% of the state’s economic output was exposed to fire risk in 2018 and that number is estimated to rise to 71%. 

      Sean McCarthy, head of municipal credit research at PIMCO, said: “It’s impossible to deny that these risks are not here now. We’re going to see the collision of climate change with the recession.”

      Meanwhile, Newsom’s administration has been focused on nothing but climate change since he has been in office. While the state has been “going to hell”, as President Trump put it in a recent Tweet, Newsom has been busy making sure gasoline powered cars aren’t available by 2035 and respecting the rights of transgendered prison inmates.

      With efficiency like that, we’re sure the state will turn right around…

    • In "Blunt Message" China Warns It Might Detain Americans If US Prosecutes PLA-Linked Academics
      In "Blunt Message" China Warns It Might Detain Americans If US Prosecutes PLA-Linked Academics

      Tyler Durden

      Sat, 10/17/2020 – 20:55

      After federal agents this summer moved to detain and charge multiple visiting Chinese academics for their undisclosed links to the People’s Liberation Army while at US research universities or laboratories (often involving outright deception to federal agencies), Beijing has escalated things with its own unprecedented warning. 

      A WSJ exclusive published Saturday cites several sources to say Chinese government officials are threatening to arrest American nationals working or residing in China in response to the DOJ prosecutions of Chinese military-linked researchers. The report cites a series of warnings communicated via “multiple channels” since the summer, including directly to the US Embassy in Beijing.

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      Via Yahoo News

      Recall too that after a developing tit-for-tat, last month the Trump administration announced that it is “blocking” many students from China from obtaining visas to America, specifically graduate students focusing on research in scientific and medical fields over fears they could steal sensitive research, especially related to coronavirus data or the search for a vaccine. 

      And there was also the mid-July diplomatic fiasco involving Chinese national Tang Juan, a University of California-Davis researcher previously admitted on a J-1 visa, who was alleged to have hid out in the Chinese consulate in San Francisco after being sought by the FBI for lying about her PLA affiliation. She was taken into custody and charged later that month, along with a handful of others, including a visiting scholar at a Texas research institution.

      And three weeks ago a Chinese scientist accused of stealing trade secrets from a leading American researcher at the University of Virginia had all charges dropped against him after a court concluded he had authorization to access the information in question. But there’s now been monthly instances of the DOJ rounding up Chinese academics under such suspicions

      It now appears Beijing too is ready to go ‘gloves off’ as the WSJ details:

      The Chinese message, the people said, has been blunt: The U.S. should drop prosecutions of the Chinese scholars in American courts, or Americans in China might find themselves in violation of Chinese law.

      Though the threats up until now have not been detailed to the public, the warnings via diplomatic backchannels began this summer, according to the report, which characterized the communications as a “blunt message”.

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      File image via The New York Times

      China started issuing the warning this summer after the U.S. began arresting a series of Chinese scientists… the people said,” the report adds.

      Though both sides, including the US State Department, are keeping mum over the potential retaliatory move Beijing is said to be mulling, the US last month did issue a travel advisory telling Americans that given deteriorating Sino-US relations on multiple fronts, especially the Hong Kong national security law issue and a growing blacklist related to Chinese tech firms, they must remain hyper aware when traveling of the possibility for the Chinese government to detain other countries’ citizens “to gain bargaining leverage over foreign governments.”

      However, Beijing has claimed that this is precisely what the United States and Western governments are doing in the first place, offering as a foremost example the case of Huawei executive Meng Wanzhou, which has marred Canada’s diplomatic ties with China. Beijing has said the US was clearly an “accomplice” in her continued detention. 

    • Has Our Luck Finally Run Out?
      Has Our Luck Finally Run Out?

      Tyler Durden

      Sat, 10/17/2020 – 20:40

      Authored by Charles Hugh Smith via The Daily Reckoning,

      Long-term cycles escape our notice because they play out over many years or even decades; few noticed the decreasing rainfall in the Mediterranean region in 150 A.D.

      But, this gradual decline in rainfall slowly but surely reduced the grain harvests of the Roman Empire, which, coupled with rising populations, resulted in reduced caloric intake for many people.

      This weakened their immune systems in subtle ways, leaving them more vulnerable to the great Antonine Plague of 165 AD.

      The decline of temperatures in Northern Europe in the early 1300s led to “years without summer” and failed grain harvests, which reduced the caloric intake of most people and left them weakened and more vulnerable to the Black Plague, which swept Europe in 1347.

      I’ve mentioned the book The Fate of Rome: Climate, Disease, and the End of an Empire a number of times as a source for understanding the impact of natural cycles on human civilization.

      It’s important to note that the natural cycles and pandemics of 200 AD didn’t just cripple the Roman Empire; this same era saw the collapse of the mighty Parthian Empire of Persia, the kingdoms of India and the Han Dynasty in China.

      In addition to natural cycles, there are human socio-economic cycles of the debt and decay of civic values and the social contract: a proliferation of parasitic elites, a weakening of state finances and a decline in the purchasing power of wages/labor.

      Debt and Its Eventual Collapse

      The rising dependence on debt and its eventual collapse is a cycle noted by Soviet economist Nikolai Kondratieff and others. In fact, Peter Turchin listed these three dynamics as the key drivers of decisive discord of the kind that brings down empires and nations.

      All three are playing out globally in the present.

      In this context, the election of Donald Trump in 2016 was a political expression of long-brewing discontent with precisely these issues:

      The rise of self-serving parasitic elites, the decay/corruption of the social contract and state finances, and the decades-long decline in the purchasing power of wages/labor.

      Which brings us to karma, a topic of some confusion in Western cultures more familiar with Divine Retribution than with actions having consequences even without Divine Intervention, which is the essence of karma.

      Squandered Chances

      Broadly speaking, the U.S. squandered the opportunities presented by the end of the Cold War 30 years ago on hubristic Exceptionalism, wars of choice, parasitic elites and an unprecedented waste of resources on unproductive consumption.

      Now the plan — for lack of any real plan — is to borrow trillions of dollars to fund an even more spectacular orgy of unproductive consumption, on the bizarre belief that “money” can be conjured out of thin air in essentially infinite quantities and squandered, and there will magically be no consequences of this trickery in the real world.

      Actions have consequences, and after 30 years of waste, fraud and corruption being normalized by the parasitic elites while the purchasing power of labor decayed, the karmic consequences can no longer be delayed by doing more of what’s hollowed out the economy and society.

      Which brings us to luck…

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      Luck: The Overlooked Factor

      As a general rule, historians seek explanations, which leaves luck out of the equation. This gives us a false confidence in the predictability and power of human will and actions and cycles. Yes, cycles and human actions influence outcomes, but we do a great disservice by shunting luck into the shadows as a non-factor.

      If Emperor Pius had chosen someone other than Marcus Aurelius as his successor, someone weak, vain and self-absorbed — like so many of Rome’s late-stage emperors– then Rome would have fallen by 170 AD as the Antonine Plague crippled finances and the army, and the invading hordes would have swept the empire into the dustbin of history.

      It can be argued that only Marcus Aurelius had the experience and character to sell off the Imperial treasure in order to raise the money needed to pay the soldiers and spend virtually his entire term in power on the front lines of battle, preserving Rome from complete collapse.

      That was a good judgment by Pius but also good luck.

      As we ponder luck, consider the estimate that had the meteorite that wiped out the dinosaurs 65 million years ago struck the Earth 30 minutes earlier or later, it would not have generated the Nuclear Winter that destroyed the dinosaurs.

      (A direct hit in deep water would have spawned a monstrous tsunami, but no dust cloud. A direct hit on land would have raised a dust cloud, but without the water vapor/steam generated by the vaporization of millions of gallons of seawater, the cloud wouldn’t have risen high enough to encircle the planet.)

      That was bad luck for the dinosaurs and good luck for the mammals who replaced them.

      A Great 75-Year Run

      The global economy has been extraordinarily lucky for 75 years. Food and energy have been cheap and abundant. (If you think food and energy are expensive now, think about prices doubling or tripling, and then doubling again.)

      In our complacency and hubris, we attribute this to our wonderful technologies, which we assume guarantee us permanent surpluses of energy and food. The idea that technology has reached hard limits or that it could fail doesn’t occur to us.

      We’ve taken good luck to be our birthright because it’s all we’ve known. We attribute this good fortune to things within our control — technology, wise investments and policies, etc.

      The possibility that all these powers that we consider so godlike are insignificant doesn’t occur to us because we’ve enjoyed the favorable winds of luck without even being aware of it.

      When times are good, modest reforms are all that’s needed to maintain the ship’s course. By “good times” I mean eras of rising prosperity, which generate bigger budgets, profits, tax revenues, paychecks, etc. — eras characterized by high levels of stability and predictability.

      Since stability has been the norm for 75 years, institutions and conventional thinking have both been optimized for incremental change. But we’re facing much more than incremental change.

      We are woefully unprepared for a long run of bad luck. My sense is the cycles have turned, and the good luck has drained from the hour-glass. Energy and food will no longer be cheap and abundant, our luck in leadership will vanish, and our vaunted technologies will fail to maintain an abundance so vast that we can squander the finite wealth of soil, water, resources and energy on mindless consumption.

      I’m reminded of a line from an Albert King song, “Born Under a Bad Sign” (composed by Booker T. Jones and William Bell): “If it wasn’t for bad luck, I wouldn’t have no luck at all.”

      The next five years might have us singing this line, with feeling.

    • Twitter Refuses To Unlock NYPost Account Unless Paper Deletes Tweets About Hunter Biden
      Twitter Refuses To Unlock NYPost Account Unless Paper Deletes Tweets About Hunter Biden

      Tyler Durden

      Sat, 10/17/2020 – 20:15

      By immediately condemning the Hunter Biden emails and photos published by the New York Post as the work of Russian hackers colluding with Rudy Giuliani, the MSM destroyed any credibility it might have had. As we pointed out earlier, more evidence has emerged to support Giuliani’s version of events – namely, that he was given a copy of the laptop’s hard drive and all of its contents by the owner of a Delaware computer-repair shop.

      But despite apologizing and acknowledging  “straight up blocking of URLs was wrong”, Twitter CEO Jack Dorsey has apparently not finished punishing the New York Post, because three days after the account was initially frozen, the New York Post hasn’t been able to tweet, and according to a NY Post report, Twitter has frozen the New York Post’s account until the paper’s social media managers agree to delete six tweets about Hunter Biden.

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      “Anyone who looks at The Post’s Twitter feed can’t even see the tweets about the Biden stories, which have been replaced by messages saying, ‘This Tweet is no longer available,'” the Post wrote on Friday.

      Twitter previously said the Post’s Hunter Biden stories violated the website’s Hacked Media Policy which prohibits the display of “hacked” information, an allegation that the Post called “baseless.” However, on Friday, Twitter updated that policy, saying it will start labeling content that violates its rules rather than remove it altogether “unless it is directly shared by hackers or those acting in concert with them.”

      Confusingly, though, the company said that these changes wouldn’t apply retroactively, meaning that the NYP still must delete the tweets if it wants to use its account again, even though readers can’t even see them.

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      Twitter confirmed in an interview with Fox Business that the NY Post “has been informed what is necessary to unlock their account.”

      Facebook, meanwhile, is temporarily restricting circulation of the story until an independent team of fact checkers has had time to investigate the claims, and certify they are real.

      While social media has been rife with speculation, in the days since the first NYP story was published, nobody has offered anything in the way of evidence – however circumstantial or unconvincing – that the materials were stolen by hackers. Beyond James Clapper’s ‘professional opinion’, the MSM has nothing to support these claims.

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    • Chinese Ambassador Makes Outrageous Veiled Threat To Canadians In Hong Kong
      Chinese Ambassador Makes Outrageous Veiled Threat To Canadians In Hong Kong

      Tyler Durden

      Sat, 10/17/2020 – 19:50

      Canada and China are once again in a diplomatic battle over a range of issues  this time with Beijing threatening retaliation over Canada’s acceptance of activists from Hong Kong who are seeking political asylum.

      China’s ambassador to Canada Cong Peiwu issued a somewhat unprecedented threat to Ottawa late this week, saying that accepting anti-China activists could jeopardize the “health and safety” of 300,000 Canadians who live in Hong Kong.

      “We strongly urge the Canadian side not to grant so-called political asylum to those violent criminals in Hong Kong, because it is interference in China’s domestic affairs, and certainly it will embolden those violent criminals,” Cong said.

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      Ambassador Cong Peiwu

      “If the Canadian side really cares about the stability and prosperity in Hong Kong, and really cares about the good health and safety of those 300,000 Canadian passport holders in Hong Kong, and a large number of Canadian companies operating in Hong Kong, you should support those efforts to fight violent crimes.” This was widely taken as an ominous threat of retaliatory action against Canadian citizens and companies in the region.

      Ironically the ultra-provocative remarks came during an event marking the 50th anniversary of Canadian and Chinese diplomatic relations. When pressed over whether the statements were a threat, the ambassador left if open, replying: “That is your interpretation.”

      Cong was also responding to the move among dozens of Canadian MPs and senators recently calling for their country to accept more Hong Kong activists in the wake of the over 3-month old Chinese national security law. A number of prominent pro-independence activists fled in the wake of the harsh law, given it’s rumored to apply retroactively, and can carry stiff jail sentences for mere political speech, should that speech be dubbed by authorities incitement or “terroristic”. 

      According to Canadian national media reports:

      “Canada has accepted at least two Hong Kong activists as refugees, granting them protection in early September. More than 45 other dissidents are awaiting approval for asylum, sources have told The Globe.”

      Cong had defended the national security law as ensuring “stability” after months of protests, riots, and clashes with police which turned violent and often led to massive destruction of property and temporary shutdowns to things like public transit. 

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      “I want to make clear that a stable and prosperous Hong Kong … is not only in the interest of the vast majority of Hong Kong residents, but it is also conducive to the majority of those … law-abiding foreigners and enterprises in Hong Kong,” Cong emphasized.

      Canada’s Affairs Minister François-Philippe Champagne immediately protested the deeply “inappropriate” comments. “The reported comments by the Chinese ambassador are totally unacceptable and disturbing,” he said in a statement. “I have instructed Global Affairs to call the Ambassador in to make clear in no uncertain terms that Canada will always stand up for human rights and the rights of Canadians around the world.”

      Cong had also taken Trudeau’s prior statements to task alleging the mainland’s “coercive diplomacy” in its crackdown in Hong Kong. Trudeau had also mentioned arbitrary detention of Uyghurs in government-run camps.

      “There is no coercive diplomacy on the Chinese side,” Cong responded Thursday. “The Hong Kong issue and the Xinjiang-related issue are not about the issue of human rights. They are purely about internal affairs of China, which brooks no interference from the outside.”

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      He also hit Ottawa over the still contested Huawei affair, charging that Canada is ultimately an “accomplice” to Washington in detaining Huawei executive, Meng Wanzhou.

      There’s been a rapidly downward spiral in diplomatic relations between China and Canada springing from the Huawei controversy, but especially following the mainland’s crackdown on protests in Hong Kong. Last month China walked away from free trade talks with China, which had been in process for a year.

    • The Illusion Is Failing
      The Illusion Is Failing

      Tyler Durden

      Sat, 10/17/2020 – 19:30

      Authored by Chris Martenson via PeakProsperity.com,

      Sometimes the magic fails.

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      The secret to the trick is accidentally revealed. The woman was always in the box.  The eye is no longer deceived. And there’s no getting the audience’s sense of awe back.

      Just like a bungled illusion, once trust is broken, it’s gone.

      For many during 2020, the loss of their jobs and businesses — in many cases due to incompetent government management of the pandemic — has been both a blessing and a curse.

      Of course nobody likes being laid off or losing a business they’d carefully built up over the years.

      But for a significant number of those people, however, they’ve now been given time (against their will, admittedly) to reflect and realize how much they hated their work in the first place.  For them, the illusion has been broken.

      They won’t go back to pretending their former lives were acceptable or tolerable, and they’re actively looking for employment that better fits their values.  Time for something new.

      Others have realized how much they really disliked what air travel had devolved into. With its demeaning theater of faux displays of ‘safety’– being groped by TSA agents and having to perform a striptease to get personal items through the security scanners.

      I’m one of these folks.  I’ll be traveling a lot less in the future, no matter what happens with the SARS-2 virus. I’ll be content to stay local and conduct my business via Zoom calls as much as can possibly be done.  I won’t miss the pat-downs, delays, crowded seats, and cancelled flights.

      Similarly, social media has now been revealed to be run by petulant sociopaths whose goal is for you to see exactly what content they want you to see, because that fits their profit incentive.  But they do so under the guise of “protecting” us from uninteresting or inappropriate material.

      Their contradictions couldn’t be any more gaping.  They’re pushing a “diversity” that requires uniformity of thought.

      Living on the internet this year while researching and publishing over 100 updates about covid, I’ve seen innumerable examples of this on Facebook, Twitter and YouTube — such as their promotion of the W.H.O.’s inconsistent and blatantly Big Pharma-conflicted messages while suppressing front-line doctors armed with positive real-world results.

      The list goes on and on.

      None of it makes any sense.  At least, not once you lift your head up and shake off the consumer lifestyle blinders.

      The world is literally and figuratively on fire.

      We are now seeing the most profound ice loss ever in the arctic.

      We’re seeing more destructive wildfires in the US than ever before.

      And so many storms in the Atlantic basin that they’ve run blown through “Z” and are now working their way through the Greek alphabet.

      Protests.  Riots.  Political and social divisions so volatile that suddenly you can read credible opinion pieces on how civil war could be ‘a thing’ in our future.

      But none of this has to be this way.

      There’s another path.  One that begins by taking stock of the fact that the ways in which we’ve been living and running our society no longer work.  The more we continue to pursue the status quo in the hopes that somehow this will all magically turns itself around, the more we waste valuable time and resources.

      To change, we must first start by declaring “Not this!”

      That’s what millions of people are currently doing on some level.  Somewhere deep inside, they’re realizing that their old lives aren’t coming back. And good riddance too!

      The illusion is broken. There’s no more fun in the show.  Time to wander out of the theater and find something actually worth our time.

      The illusion is broken.  Our top health authorities have shown that they care more about creating the next massively profitable drug than they do about actually saving lives.  Once you’ve see that, you can’t ‘unsee’ it.

      Both major political parties reacted to covid by hastily shoveling trillions of dollars to Wall Street and mega corporations while only giving poorly-delivered scraps to ordinary people. Which is why the current candidates’ campaign promises aren’t believed.

      “None of the above” would win in a landslide here in the USA in 2020.  The illusion is broken.

      If the first necessary step is to withdraw our consent, what’s the second step?

      Become as resilient as you can.  Control what you can and let the rest unfold as it will.

      Many of our largest systems are in the process of breaking down.  Not only is there nothing you can do to stop that, but nothing should be done here.  Those unsustainable and deeply unfair systems are failing for a reason. They’re not worth preserving. Any efforts spent trying to prop them up simply delay our opportunity to replace them with better new models.

      Sometimes it’s just best to admit that a building has lived out its full useful lifespan, tear it down, and build anew.  Honor it for how it’s served us, nod once, and tear it down.

      So what’s next for you?  Where do you go from here?

      Well, our upcoming Peak Prosperity digital seminar (Oct 24-25th) will lay out much of our best thinking — and that of our incredible faculty of guest experts — on the best steps to take now to protect and nurture your money, health, home and community.

      If you haven’t registered yet do so now by clicking here (fyi: our ‘last chance to save’ discounted price of $199 expires Saturday night, after which the price rises to $249)

      And for myself and my fiancée Evie, we’re up to our eyeballs in creating community, planting, raising animals, and building infrastructure.  Besides giving us a much-needed sense of control during an otherwise out-of-control year, these actions align with our inner sense of integrity.

      Intelligent regenerative action is what the world needs now. And even if they prove to be insufficient, they are inarguably necessary.  Some of these efforts, such as planting pear trees, are being planted for whomever comes after us.  We do this because it’s the right thing to do.

      In a world that has gone mad, and lacks a coherent story, the need to make sense and become the author of our own story grows exponentially.

      So what does a better story look like?

      In Part 2: Building A Better Plan we parse through the wisdom of generations and cultures that have come before us, to rediscover some of the secrets of living a sustainable, fulfilling and integrity-rich life that modern society lost as it traded meaning for convenience.

      If we don’t heed the lessons of the past, and attempt to build on and improve them as best we can, our remaining prosperity will vanish as quickly as the unfortunate illusionist’s act.

      Click here to read Part 2 of this report (free executive summary, enrollment required for full access).

    • Trump Says He Won't Force Americans To Take COVID-19 Vaccine
      Trump Says He Won't Force Americans To Take COVID-19 Vaccine

      Tyler Durden

      Sat, 10/17/2020 – 19:00

      It’s not every day that President Trump outflanks his progressive critics on the issue of ‘consent’.

      But according to some recent comments from the president, skeptics worried about the prospect of mandatory vaccination orders in the US and in the UK have rallied to voice their opposition.

      But if President Trump is reelected, Americans who are concerned about what some ‘experts’ have characterized as a ‘rushed’ approval process for the COVID-19 vaccine won’t need to worry about being forced to accept the vaccine and vaccinate their children. Because President Trump says he will not issue a mandate requiring that individuals receive the coronavirus vaccine once one becomes widely available.

      https://platform.twitter.com/widgets.js

      While Trump claimed that “essential workers” and “older people” would take priority, the president made a brief detour detour during the interview with Fox’s Stuart Varney that he won’t require vaccinations because “some people feel very strongly” about the issue, Trump said.

      Bill Gates, who insists that everyone – all 7+ billion humans on the planet – must be vaccinated to completely stamp out the virus and reduce its incidence to “zero”.

      “I don’t believe I’d ever do a mandated vaccine,” the president told Fox’s Stuart Varney. “I just don’t think I would do that, where you have to have it, because there are some people who feel very strong about that whole situation,” Trump said.

      Polls suggest roughly 50% of Americans would decline to take a COVID-19 vaccine, regardless of the developer, due to concerns about the approval process, which Bill Gates himself once denounced as potentially corrupt, blaming President Trump’s insistence on approving a vaccine before election day.

    • The Media Is Now Openly Pushing Secession As The Election Nears
      The Media Is Now Openly Pushing Secession As The Election Nears

      Tyler Durden

      Sat, 10/17/2020 – 18:35

      Authored by Ryan McMaken via The Mises Institute,

      It’s becoming increasingly clear to even mainstream media outlets that things are unlikely to return to “normal” after the 2020 election.

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      No matter who wins, it is likely the losing side will regard the winning side as having obtained its win using dirty tricks, foreign meddling, or through relentless propaganda offered up by a heavily biased and one-sided news media.

      And if about half the country regards the winning president as illegitimate, where does one go from there?

      The survey data isn’t exactly calming on this issue. As reported by Politico last week, the percentage of Americans who believe it is justified to use violence to “advance political goals” has quadrupled since 2017, for both Republicans and Democrats.

      After all, political invective has reached a fever pitch since Hillary Clinton declared that a sizable portion of the United States population constituted a “basket of deplorables.” Perhaps not since the 1870s and 1880s—when Catholics, Southerners, and Irish (all core constituents of the Democratic Party) were denounced by Republicans as spies, traitors, and drunks—has half the country so despised the other half. As early as 2017, when asked of the chances of another civil war in the United States,  about one-third of foreign policy scholars polled said it was likely.

      Perhaps, then, it is not shocking that we are now seeing articles even in mainstream publications suggesting that maybe, just maybe, the United States can’t continue in its present form. Moreover, the view is now increasingly being promoted by writers and ideologues outside the usual conservative and libertarian groups that have long advocated in favor of decentralization and local control.

      On September 18, for example, Steve Chapman in the Chicago Tribune asked: “Can the United States survive this election?” For the past century, the answer given by most any mainstream journalist would have been a decisive yes. The usual narrative has long been this: “Of course America will endure for centuries to come! We Americans are masters of compromise. We’ll all soon realize we are all in this together and come together in unity!”

      But now Chapman writes:

      The concept of splitting off is as American as the Fourth of July. The high point of separation sentiment came after Abraham Lincoln’s election in 1860, resulting in the Civil War. But New England states contemplated leaving over the War of 1812….The bonds that hold Americans together have frayed, and what happens on Nov. 3 may do additional damage. No nation lasts forever, and ours won’t be the first. This election won’t be the end of the United States. But it could be the beginning of the end.

      Moreover, Chapman notes that while many no doubt will continue to see the United States as strong and likely to endure indefinitely, such assumptions may be unwise given the reality of experience elsewhere:

      In 1970, the Russian dissident Andrei Amalrik wrote a book titled, “Will the Soviet Union Survive Until 1984?” At the time, the idea of a giant superpower disintegrating sounded like a fantasy. But it eventually came true. … Countries like Czechoslovakia and Yugoslavia also have broken apart. Britain is leaving the European Union, and Scotland could push to leave Britain. It would be folly to think the United States is immune to these forces.

      Chapman is not alone.

      Last month in the Philadelphia Inquirer Chuck Bonfig suspected that maybe the end is near:

      The country has gone through many periods of strife in my time here: assassinations, recessions, desegregation, inflation, gas crisis, Watergate, hanging chads, the AIDS crisis, 9/11. Maybe it’s the 24-hour news cycle or the immediacy of social media that makes the landscape seem so bleak, but I don’t recall us ever being so divided.

      No one in our country seems happy today. The right is angry. The left is despondent. Our nation reminds me of those married couples who try to stay together for “the children” but end up making everyone around them miserable.

      Maybe it’s time for a breakup….Just think about it, America. I know breaking up is hard to do. We used to be good together. But what is the point of having the “greatest country in the world” if none of us actually like it?

      The debate over separation and secession has been additionally pushed into the national debate by Richard Kreitner and his book Break It Up: Secession, Division, and the Secret History of America’s Imperfect Union. Kreitner, who writes for the leftist magazine The Nation, suggests that the United States has never been as unified as many suggest and also concludes that secession and division may be a necessary tactic in bringing about the left-wing reforms he’d like to see. In an interview with The Nation, Kreitner discussed how he began to think about secession as a serious solution:

      What if the United States broke apart? Would that be such a bad thing? Is it possible that the progressive policies and programs that I wanted to see put into place might be easier to enact in a smaller entity than the United States, with its 330 million people and the need to always convince people with very different attitudes and interests? So with that question, I was curious if anybody else in American history had favored secession for noble or progressive reasons—not to perpetuate slavery but even to oppose it.

      The answer, I quickly found, is yes: There were disunion abolitionists who were fiercely against slavery and who wanted the northern states to secede from the union in the 1840s and 1850s as a way not only to protest slavery but to undermine it. Taking in their arguments and their rhetoric was really, really interesting.

      Kreitner goes on to note that secession has long been at the forefront of American political ideology. This, of course, goes back to the secession of the American Revolution and can also be found in the secession movement favored by abolitionists and in New England’s efforts to secede during the War of 1812.

      Kreitner is right.

      Secession has long been entertained by many Americans, and not just defenders of the old Confederacy. In the early days of Southern secession, many Americans—including those who didn’t like the South or slavery—were fine with the Confederacy’s departure. New Yorker George Templeton Strong, for instance, declared in 1861, “the self-amputated members [the Southern states] were diseased beyond immediate cure, and their virus will infect our system no longer.” That same year, other New Yorkers seriously discussed leaving the Union and becoming a city-state devoted to free trade. In 1876, the battle over who won the presidential election very nearly produced a national split, with the pro-Democrat governor of New York “promising state resistance” to the Republican usurpers.

      Nor were the nation’s founders necessarily opposed to division. Thomas Jefferson expressed prosecessionist views, even when he was a sitting president. In an 1803 letter to John Breckinridge, Jefferson explained that if the future states of the Louisiana Territory sought to secede that was fine with him:

      [If] it should become the great interest of those nations to separate from this, if their happiness should depend on it so strongly as to induce them to go through that convulsion, why should the Atlantic states dread it? But especially why should we, their present inhabitants, take a side in such a question?

      And in 1804, Jefferson wrote to Joseph Priestly stating:

      Whether we remain in one confederacy, or form into Atlantic and Mississippi confederacies, I believe it not very important to the happiness of either part.

      Only Decentralization Can Save the Union

      At this point, there is only one strategy that can prevent a continued slide toward conflict, disunion, and (possibly) violence: decentralization of political power.

      Thanks to decades of growing centralization of power in Washington, DC, American policy is increasingly made by the national government and not by state and local authorities. This means American life is more and more governed by one-size-fits-all policies hatched by faraway politicians in DC. Thus, with each passing election, the stakes become higher as gun policy, healthcare, poverty relief, abortion, the drug war, education, and much more will be decided by the party that wins in DC, and not in the state capitol or in the city council. In other words, the laws that govern Arizona will be primarily made by politicians and judges from other places entirely. These faraway politicians will be more concerned with the needs and ideology of a national party, rather than with the specific needs of people who live in Arizona. 

      It is only natural that as the national government becomes supercharged in this way many Americans might start considering ways to get beyond the central government’s reach.

      It doesn’t have to be this way. The United States could follow another path in which domestic policy is created and enforced in a decentralized manner, in which laws for Texans are made in Texas and laws for Californians are made in California. This, of course, is what Thomas Jefferson imagined when he wrote that the states should be self-governing and unified only on matters of foreign policy:

      The true theory of our constitution is surely the wisest and best, that the states are independent as to everything within themselves, and united as to everything respecting foreign nations. Let the general government be reduced to foreign concerns only.

      In a decentralized political scheme such as this, the stakes in a national election are much lower. It doesn’t matter as much for Ohioans which party is in power in Washington when relatively few laws affecting Ohioans are made at the federal level. 

      To adopt this way of doing things, however, would require a sizable departure from the current ideology that reigns in Washington. On the left especially, it seems few can imagine a world where people in Iowa or Indiana are allowed to run their own schools and healthcare systems without meddling from Washington. While conservatives’ efforts to force marijuana prohibition on states like Colorado show that the Right is not immune from this impulse, it is abundantly clear that the Left is quite enthusiastic about the idea of sending federal enforcers to ensure the states enact abortion on demand, adopt Obamacare, and enforce drug prohibitions as dictated by Washington.

      But unless Americans have a change of heart and begin to decentralize the political system, expect a growing unwillingness to accept the outcomes of national elections and growing resistance to the federal government in general. What follows is unlikely to be pleasant.

    • Russian Trade Minister Celebrates Collapsing Ruble As "Awesome"
      Russian Trade Minister Celebrates Collapsing Ruble As "Awesome"

      Tyler Durden

      Sat, 10/17/2020 – 18:10

      Over the past decade, western central banks have generated countless hours of derision, mocking and scorn because while it has become painfully obvious that their two primary objectives – pushing stocks higher and hammering the currency – have nothing to do with their stated objectives of full employment at stable prices, central bankers have been steadfastly stubborn in their baseless claims that what they do is for the greater good. So much so, that the very same Fed whose catastrophic monetary policies of the past decade have spawned the greatest wealth and class inequality in US history in their pursuit of weaker currencies and higher asset prices, are now actively pretending they are pursuing an end to racial inequality, which is nothing but pure propaganda to justify printing even more money until maybe one day, inequality somehow magically ends.

      But there is one place where officials are not hypocritical about their true motives and desired outcomes: Russia, where the government minister in charge of getting companies to keep production at home thinks the ruble’s recent 20% plunge against the dollar is simply “awesome.”

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      Russian Industry and Trade Minister Denis Manturov

      In an interview with Bloomberg on Wednesday, the Russian Industry and Trade Minister Denis Manturov said that companies that don’t rely heavily on imports “are in a sweet spot right now.” He was referring to the plunge in the Russian currency: the ruble is one of the worst-performing currencies this year due to a slump in global oil prices and concern the U.S. and European Union may introduce new sanctions.

      And while economy Minister Maxim Reshetnikov said in parliament Thursday that the currency is undervalued, while the central bank has warned the devaluation may push inflation above a 4% target, Manturov disagrees.

      Anticipating the weakness of its currency, the Kremlin introduced measures to get companies to be less reliant on imports since US and European sanctions curbed Russia’s access to international markets in 2014. Manturov said three years ago that a ruble rate of 62 per dollar would be an optimal level for the policy to blossom.

      And with the currency was trading near 78 per dollar…

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      … this has meant an even faster recovery for Russia’s export-oriented business. In fact, after a deep slump in the second quarter, the Russian economy bounced back over the summer after many lockdown restrictions were lifted. Industrial production will probably only shrink 4.5% for the full year, while manufacturing will contract 2%, Manturov said.

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      Of course, there is the possibility that the drop will only accelerate further as Russian virus infections have surged in recent weeks with daily tallies surpassing levels reached in the spring, although unlike in the West there is little discussion of a new round of shutdowns. Furthermore, unlike many western nations, Manturov said the government isn’t discussing any plans to prolong support measures for businesses. “We hope that the peak is over,” Manturov said. “The recovery was very quick in many industries.”

      But what is more important to Russia is that its goods and services are now about 20% cheaper to its foreign trading partners than they were at the start of the year, resulting in a foreign-led demand boom.

      The bottom line is that while every developed nation is now engaged in massive QE precisely in hopes of devaluing their own currencies to even a modest degree of what Russia has achieved, they will never admit to it (the BOJ for example has constantly stated that a weaker yen is not one of its policy intentions, just a boost to inflation… as if yen weakness isn’t a key driver of that). Which is why in a world of endless lies and constant hypocrisy, hearing at least one financial official admit the truth that it is “awesome” to see one’s currency collapse, is delightfully refreshing.

    • Brown University Researcher Says Trump Signs, American Flags "Scare" & "Traumatize" Black People
      Brown University Researcher Says Trump Signs, American Flags "Scare" & "Traumatize" Black People

      Tyler Durden

      Sat, 10/17/2020 – 17:45

      Authored by Ben Zeisloft via Campus Reform,

      A postdoctoral researcher at Brown University took to social media to explain that Black AirBnB guests may be traumatized by Trump signs.

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      Carycruz Bueno, a postdoctoral research associate at Brown University’s Annenberg Institute, tweeted that vacation rental company Airbnb “doesn’t understand the trauma” of Trump signs for a Black person.

      Airbnb rentals are privately owned properties listed for short-term and long-term rental on Airbnb. Airbnb, unlike hotels, does not own the properties. It is the platform that connects private owners with renters and facilitates payments.

      Bueno recalled that she and her husband rented a property in Maine. When they arrived, she said they saw “Trump signs and other white nationalist symbols” in the yard. Bueno was “immediately scared” for her life and the safety of her family.

      According to Bueno, AirBnB stated that it could not do anything, which Bueno described as a “prime example [of] how White companies make a BLM statement,” yet “do nothing” when a Black person says that she doesn’t “feel safe.”

      Bueno alleged that Airbnb is “only words no action,” and should “do better” than making Black people “retell a traumatizing experience.”

      She also called for a “greenbook version of AirBnB” so that BIPOC (black indigenous people of color) would not have “to pay to feel uncomfortable and scared.”

      Bueno mentioned that the American flag could also be a symbol “used in many places to scare Black people,” in addition to KKK and Confederate iconography.

      Cruz Caridad Bueno, an “anti-racist feminist economist,” chimed in as well: “Disgusted, not using Airbnb anymore.”

      Brown University Students for Trump President Emma Rae Phillips told Campus Reform that she is “disappointed by Bueno’s comments.”

      Phillips, who majors in economics, said that Bueno’s “tweets do not seem to show much understanding of how free markets work” since AirBnB’s customers have the choice to take their business elsewhere. 

      Additionally, she says that “American flags and Trump signs are not racist in any way, shape, or form.”

      Campus Reform reached out to Bueno for comment but did not receive a response. 

    • Franklin's Rule: How The Barrett Hearing Left The Democrats Holding An Empty Sack
      Franklin's Rule: How The Barrett Hearing Left The Democrats Holding An Empty Sack

      Tyler Durden

      Sat, 10/17/2020 – 16:55

      Authored by Jonathan Turley,

      Below is my column in the Hill on the nomination of Judge Amy Coney Barrett and the oddly disconnected questions during her confirmation hearing.  While I have written about the revealing moments of the hearing, the Democrats clearly elected not to focus on the nominee but the election. When they did attack the nominee, they fired wildly and missed completely in three areas.

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      Here is the column:

      Benjamin Franklin once said, “it is hard for an empty sack to stand upright.” It took almost 300 years, but Franklin’s observation finally has been proven demonstrably true. The three-day Senate Judiciary Committee hearing for federal appellate judge and Supreme Court nominee Amy Coney Barrett can best be described as an empty-sack confirmation that simply would not stand upright.

      From the outset, committee Democrats were dealing with a highly qualified nominee who has the intellect, the temperament and the background to be an exceptional justice. And that was the problem.

      Democrats decided to use the hearing as a springboard for the coming election. They never intended to put anything in the sack against Barrett. Yet, to frame this effort, they advanced a number of false premises that collapsed on their own weight:

      The Affordable Care Act (ACA) is about to be killed

      Barrett was surrounded in the hearing room by photos of ill individuals who could perish without national health care. It made Barrett look like some judicial serial-killer.  However, these were not her victims. Indeed, the entire premise was false.

      Senate Democrats were suggesting that the pending case of California v. Texas was just one vote shy of striking down the ACA. It left many of us watching in disbelief. While a district court struck down the whole act, an appellate court wanted to send it back to consider the elements of “severability.” The vast majority of experts believe that the striking down of one provision — the individual mandate provision — should not result in the loss of the entire act. More importantly, a clear majority of the Supreme Court appears to believe that. Chief Justice John Roberts and Justice Brett Kavanaugh both are expected to vote to uphold the rest of the act. Indeed, a Justice Barrett could well vote with them.

      What is clear is that it is extremely unlikely that the ACA is teetering on destruction. Numerically, the current head-counting means that it is as likely that a unanimous court would support severability as a five justice majority would strike down the whole act.

      None of that mattered, however, as Democratic committee members spun a conspiracy theory that Barrett’s nomination was all about supplying that needed fifth vote just before a Nov. 10 court hearing on the case. It was an empty sack that just laid there as Barrett explained this was a narrow question of severability and she has never ruled on the issue of severability.

      Abortions are about to become illegal in America

      Barrett is undeniably pro-life. She’s said so over and over. She also said she does not consider Roe v. Wade to be a “super precedent.” As such, the case is not inviolate and can be revisited.

      However, even if Barrett were to supply the fifth vote on the court to overturn Roe — which remains unlikely — it would not make abortion illegal. Indeed, former Vice President Joe Biden himself has explained why. He said recently that if Barrett helped overturn Roe, his “only response [would be] … [to] pass legislation making Roe the law of the land. That’s what I would do.”

      Put aside for the moment that forcing states to accept abortion, if it is no longer a constitutional right, could be challenging under the 10th Amendment. The broader point is still valid: Such a decision would simply return the question to the states. And the majority of states likely would continue to guarantee the right to abortion as a legislative matter. In other words, Roe might end — but it would not end the right to choose, as a matter of state law.

      Ironically, Barrett is a huge defender of states’ rights and would likely defend pro-choice states in asserting such federalism powers.

      Barrett is unethical because she will not recuse herself

      One of the weakest arguments is that Barrett cannot be confirmed unless she agrees to recuse herself from the ACA case or future election controversies. The reason is that Democrats say there is an appearance that President Trump really wants her on the court to vote on such issues. However, that logic would seem to require not just the recusal of the other two Trump-nominated justices — Neil Gorsuch and Brett Kavanaugh — but a host of other justices who were confirmed a year before elections in prior administrations.

      There is no reason for Barrett to recuse herself under the court’s governing standards. She has no personal or financial interests in these challenges and did not work on any of the underlying litigation, including election litigation that has not occurred yet. Nonetheless, Barrett pledged to consider recusal if anyone raises the appearance of a conflict and to apply the governing standard of 28 U.S. Code § 455. That was not enough for Sen. Mazie Hirono (D-Hawaii), who responded to her pledge by saying “the fact that you wouldn’t even bring forth the recusal process says to me that voters may decide there is an appearance of conflict.” That was as confusing legally as it was grammatically for most of us.

      We ended this hearing where we began it, with nothing from Senate Democrats relevant to the actual nomination. Instead, they gave us probing questions about Barrett’s views on global warning and how she felt about putting immigrant children in cages. No serious answers were expected by the Democrats, and no answers given.

      Indeed, for much of the hearing, Barrett seemed as relevant to senators as the ficus plant in the corner of the hearing room. Speeches were made. Pictures were paraded. Voters were beckoned. Even the Houston Astros were maligned. But nobody could get that empty sack to sit upright.

    • Senate Homeland Committee Demands Answers From FBI Over Hunter Biden Laptop
      Senate Homeland Committee Demands Answers From FBI Over Hunter Biden Laptop

      Tyler Durden

      Sat, 10/17/2020 – 16:02

      Senate Homeland Security Committee Chairman Ron Johnson (R-WI) has fired off a Saturday letter to FBI Director Chris Wray demanding answers over the agency’s handling of Hunter Biden’s laptop.

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      According to the letter, after Johnson released his a report on Hunter Biden’s activities abroad which raised “counterintelligence and extortion concerns,” Johnson’s committee was contacted by a whistleblower – ostensibly Delaware computer shop owner John Paul Mac Issac – who “informed my staff that he had possession of a laptop left in his business by Hunter Biden.”

      Issac told Johnson that “he provided its contents to the Federal Bureau of Investigation (FBI) in response to a December 9, 2019 grand jury subpoena,” to which the FBI responded that they “would not confirm or deny any information identified by the committee.” In other words, Wray’s FBI stonewalled when confronted with direct questions by the Senate Homeland Security Committee.

      To review the timeline – according to an associate of Issac, Hunter Biden left three laptops at the repair shop on April 12, 2019. In September of 2019, after Hunter failed to respond to come pick them up, Issac walked into the FBI office in Albuquerque, New Mexico and spoke with an agent.

      Two months later, while Democrats were holding Trump-Ukraine impeachment hearings, two FBI agents from the Wilmington, DE office, Joshua Williams and Mike Dzielak, paid Issac a visit. He offered them one of Biden’s hard drives, which they declined to take with them. Two weeks later, they came back with a subpoena for the drive.

      After months of silence from the FBI, Issac contacted Rudy Giuliani and offered him a copy of the drives.

      The FBI, of course, is laughably investigating the Hunter Biden emails as a potential Russian influence operation despite the above timeline.

      Johnson, meanwhile, asks the FBI the following questions:

      1. Does the FBI possess material from Hunter Biden’s laptop(s)? If yes. how and when did the FBI obtain this information?

      2. Is it accurate that FBI officials obtained contents from Hunter Biden’s laptop from a business located in Delaware? If so:

      • When did the FBI first examine these records?
      • Has the FBI concluded its examination of these records?
      • Has the FBI found any evidence of criminal activity based on its examination of these records?
      • Has the FBI determined whether the records on the computer was generated on that computer. Is genuine, or has been altered in any way?
      • Has the FBI determined whether these records were generated or authored by Hunter Biden?
      • Has the FBI determined whether these records are a result from someone hacking Hunter Biden’s computer?

      3. Is it accurate that the FBI issued a grand jury subpoena from the U.S. District Court for the District of Delaware to obtain this information? If so, when and why was this subpoena issued? Was this information ever offered to the FBI voluntarily?

      4. When and how were you made aware that the Delaware computer repair shop owner possessed a computer and its electronic contents that he claimed originally belonged to Hunter Biden?

      5. In addition to these records allegedly provided in response to a subpoena, has the FBI ever been in possession of any other of Hunter Biden’s laptops) or material from Hunter Biden’s laptop?

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    • "I Got Rich Off Of EDD:" Feds Bust LA Rapper For $1.2M Unemployment Scam Detailed In Music Video
      "I Got Rich Off Of EDD:" Feds Bust LA Rapper For $1.2M Unemployment Scam Detailed In Music Video

      Tyler Durden

      Sat, 10/17/2020 – 15:40

      A tidal wave of first-time jobless claims during the virus pandemic overwhelmed California’s computer systems, as it was a perfect opportunity for scammers to use stolen identities and file false claims. 

      This is precisely what happened in Los Angeles when a get-rich-quick unemployment benefits scheme netted one rapper more than $1.2 million, reported CBS Los Angeles

      The rapper, Fontrell Antonio Baines, 31, who goes by “Nuke Bizzle,” was arrested Friday on federal charges for fraudulently receiving $1.2 million in unemployment insurance benefits under the CARES act. 

      “According to an affidavit filed with the complaint, Baines possessed and used debit cards preloaded with unemployment benefits administered by the California Employment Development Department,” according to the U.S. Attorney’s Office.

      “The debit cards were issued in the names of third-parties, including identity theft victims. The applications for these debit cards listed addresses to which Baines had access in Beverly Hills and Koreatown,” federal prosecutors said in a news release. 

      Court documents pointed out Baines uploaded a music video titled “EDD” [Employment Development Department] on YouTube, which included the lyrics, “I got rich off of EDD” and “getting rich by [going] to the bank with a stack of these.” 

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      A second rapper in the video sings: “You gotta sell cocaine, I just file a claim.”

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      Baines was also heard giving a “shoutout” to President Trump for the CARES Act. 

      Court documented showed Baines used at least 92 preloaded EDD debit cards, worth more than $1.2 million, with many of the withdraws in Los Angeles and Las Vegas. 

      EDD fraud in California has been an ongoing, widespread issue this year. Between mid-August and the first week of September, Pandemic Unemployment Assistance (PUA) claims in California soared, which forced California’s EDD to halt new unemployment claims mid-September for two weeks.  

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      No matter what – or who – is to blame, California’s fraud issue underscores the widespread unemployment data challenges – including clerical errors and double counting – that state employment departments have faced since the pandemic began. 

      “Aggressive efforts to fight fraud are yielding results in curbing the recent uptick in suspicious Pandemic Unemployment Assistance (PUA) claims in California,” the state’s employment department said.

      And to refresh readers’ minds about pandemic fraud, a Florida man recently used loans granted under the Paycheck Protection Program (PPP) to purchase a 2020 Lamborghini Huracan

    Digest powered by RSS Digest

    Today’s News 17th October 2020

    • Paul Craig Roberts: Life Within The Matrix Is Our Future
      Paul Craig Roberts: Life Within The Matrix Is Our Future

      Tyler Durden

      Fri, 10/16/2020 – 23:30

      Authored by Paul Craig Roberts,

      The question each of us needs to ask ourselves, and one another, is why do we get so much misinformation about Covid from public health authorities, political authorities, and press prostitutes?  We get a lot of misinformation from health practioners, because they get the bogus information from health authorities and from researchers associated with Big Pharma.  But why do health authorities themselves lie to us?

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      Take the issue of masks.  The masks being worn by the vast majority of the world population, including health care providers, cannot prevent the inhalation and exhalation of bacteria and viruses.  If a person wearing one of these masks is sick with a cold, flu, or Covid, the mask can prevent the person from sneezing and coughing on others, countertops, and fresh produce.  But the masks cannot prevent the wearer from breathing in and exhaling out Covid, which is airborn and aerosol spread.  The only people who should be wearing one of these masks are people who are out in public areas coughing and sneezing among other people.  To avoid the spread of the virus, infected people should stay at home.

      If the masks people are wearing protected against bacteria, viruses, and other pathogens, there would be no point in N95 and higher rated masks.  Medical authorities know this, so why are people told, indeed forced, to wear ineffectual masks?

      This is an especially troubling question when experts unaffiliated with Big Pharma tell us that wearing a mask is dangerous as it reduces oxygen intake and increases CO 2 intake. This expert tells us that wearing a mask causes brain damage that cannot be reversed. Why do health authorities want to stunt children’s development and increase dementia among the elderly? This doctor tells us that mask wearing is increasing bacterial pneumonias.

      Public health authorities know that the Covid death rate is greatly exaggerated.  Hospitals are economically incentivized to report all deaths as Covid deaths. The CDC itself let the cat out of the bag when it reported that among the 200,000 US Covid deaths, only 9,000 were due to Covid alone.  All others had in addition to Covid 2.6 fatal comorbidities. Deaths are concentrated in an elderly population with comorbidities, and those infected, if they were and it wasn’t a false positive, could as easily have died from seasonal flu.

      Perhaps without meaning to, the World Health Organization (WHO) seems to have confirmed that Covid is no more dangerous than flu.

      So, why do public health authorities withhold this information from political authorities and the public, and why do reporters not ferret it out?  The information exists.  It just isn’t reported.

      Public heath authorities also know that the number of Covid cases is vastly overstated, because the PCR test produces more false positives than correct positives.

      An international group of lawyers has concluded based on evidence provided in expert testimony that the Covid Pandemic is an orchestration that has served powerful interests at the expense of the public’s health. The doctors acknowledge that Covid itself is real, but the pandemic that has been built around it is not.

      It is possible that the courts are as corrupted as the media and democratic institutions, and that nothing will come of the lawyers’ efforts.  Nevertheless, neither Americans nor other peoples need to cling to their gullibility and behave as sheep programmed by “authorities” who are serving every interest but public health.

      As I have reported in previous columns, Covid is being used to serve many interests. 

      Among them, Covid is being used to complete the universal Police State by digitizing money.  Once electronic money takes the place of currency, checks, and coins, your financial privacy and your control over your money and wealth will disappear. The government will know every payment you make and receive, and your access to your own income and wealth can be curtailed at the whim of the government and those who control the digitized monetary system. There will be no way that you can accumulate cash reserves as protection against your dispossession.

      Private cryptocurrencies will be destroyed, and a black market fueled by gold and silver coins can be prevented by seizing gold and silver holdings.  The Great Liberal Hero Franklin D. Roosevelt was able to take gold out of Americans’ hands with the technology of the 1930s.  Today it would be a cinch.

      Authorities have many Americans terrified of Covid infection.  People scared out of their minds can’t wait for the unneeded and insufficiently tested vaccine. The HCQ/zinc cure works, but continues to be demonized by public health authorities in order to keep the market primed for a vaccine that contains elements we know not what.

      Over the course of our history we Americans have been deceived about many things for the sake of political agendas.  The length of the list depends on how far you want to go back.  Let’s just start with the 20 years of the 21st century—September 11, 2001, Osama bin Laden and the Talliban, Saddam Hussein’s weapons of mass destruction, the endless lies about Gadaffi and Libya, Russian invasion of Ukraine, Assad’s use of chemical weapons, Russiagate, Impeachgate, Russian bounties to the Tallian to kill American soldiers, the lies about China, Somalia, and now the Covid Deception.

      Are Americans capable of learning?  How many lies do they have to be told before they begin to wonder?  It is not entirely their fault.  The explanations given them are controlled and aligned with their innate biases.  Super patriots, for example, love to have enemies to denounce, and you can hear rightwing talk radio denouncing China, Russia, and Iran daily.  The left loves to hear confirmation of their belief in the evil that is America.  The left has glorified in the rioting, looting, and destruction that resulted from press prostitutes withholding the fact that George Floyd died from an overdose of fentanyl.

      The younger generations have never been taught how to think.  Instead, they are taught what to think.  You see the result in the majority white presence in Antifa and Black Lives Matter.

      Throughout the Western world facts have given way to emotions. The concept of independent truth itself has been lost.  Truth is whatever serves the agenda. You can see this in Assange’s trial underway in a British court. The Judge and prosecutor have no interest in any evidence, only in delivering the result demanded by the agenda.

      Science itself is imperiled as there are only race and gender truths.  Media serves money and ideologies.  Universities and public schools are a great danger to the societies that host them.

      Public discourse and debate no longer exist.  Among Americans, violence is rising as the preferred way to settle disagreements.

      Truth-tellers, at first ostracized and shoved aside are now being criminalized with the help of the media.  The bought-and-paid-for Western media no longer expects to be free and will take no risk in behalf of the First Amendmant.  The Western media are helping to destroy the last Western journalist – Julian Assange.

      Without a media there is no accountable government and no democracy. Voting becomes impotent as in Stalinist Russia.  Voting is used to give legitimacy to whatever government those who rule have decided upon.

      Donald Trump will be the last American president who tried to put the people’s interest above those of the ruling elites.  Henceforth, all presidential candidates will understand that their political success depends only on being the best puppet for the Establishment.

    • Sign Of The Top? Porn Star Pitches 'Trading Seminar' – "It's The Right Time To Get Into Stocks"
      Sign Of The Top? Porn Star Pitches 'Trading Seminar' – "It's The Right Time To Get Into Stocks"

      Tyler Durden

      Fri, 10/16/2020 – 23:10

      It seems barely a week goes by that some new celebrity isn’t trying to cash in on the day-trading craze that’s recruited millions of retail traders into the market.

      Since the market melted down in March, millions of first-time traders guided by the principle that stocks only go up and every dip is merely an opportunity to buy more have downloaded Robinhood.

      Many have dived headlong into trading single stocks, futures and options, (only to be hit by last-minute calls to up their margin requirements or risk liquidation). Sometimes, these types of mistakes can be fatal.

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      Like with any trend, opportunists are struggling to cash in any way they can. And in the rush to appeal to the millennial cohort, these entrepreneurs are recruiting influencers/celebrities to pitch their trading courses purporting to show traders how to make millions trading penny stocks, or the latest trading ‘strategies’ that will ensure a massive speculative windfall.

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      Which is why we can’t help but comment on a recent post from porn star (excuse us, ex-porn star) Lana Rhoades, who apparently took to her Instagram account this week to pitch a series of trading classes from @Truetradinggroup.

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      “Don’t miss the seminar guys, it’s the right time to get into stocks,” Rhoades concludes.

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      In addition to still being one of the most searched stars on PornHub despite ‘retiring’ from porn a few years back, Rhoades’ popularity saw a bump this month thanks to an appearance on the popular Barstool Sports podcast “Call her Daddy”.

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      Of course, unlike Barstool’s Dave Portnoy, Rhoades’ approach to cashing in on the day trading frenzy will see her get paid no matter what.

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      Others joked that the venture was bound to end badly.

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      In contrast, another ex-porn star, Mia Khalifa, sent a viral tweet about the market back in March.

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      It might be time for her to give her manager a call and see what “collab” opportunities might be available.

    • What's Behind The WHO's Lockdown Mixed-Messaging
      What's Behind The WHO's Lockdown Mixed-Messaging

      Tyler Durden

      Fri, 10/16/2020 – 22:50

      Authored by Stacey Rudin via The American Institute for Economic Research,

      Last week, in a major departure from months of pro-lockdown messaging, Britain’s envoy to the WHO Dr. David Nabarro called for world leaders to stop locking down their countries and economies as a “primary method” of controlling COVID19.

      “I want to say it again: we in the World Health Organization do not advocate lockdowns as the primary means of control of this virus,” Dr. Nabarro told The Spectator.

      “The only time we believe a lockdown is justified is to buy you time to reorganise, regroup, rebalance your resources, protect your health workers who are exhausted, but by and large, we’d rather not do it.” Dr. Nabarro’s position aligns with the Great Barrington Declaration, of which he spoke favorably, in which 30,000 scientists and public health experts have joined in advocating an immediate return to normal life for those at low risk. Nabarro and the thousands of signees of the Declaration opine that this approach will minimize overall mortality and lessen the disproportionate burden of lockdowns on the working class and underprivileged.

      The day after Nabarro made his remarks, WHO director-general Dr. Tedros Adhanom Ghebreyesus flatly contradicted him, declaring that lifting lockdowns would be a recipe for “unnecessary infections, suffering and death.” Tedros claims that herd immunity can only be “safely” achieved through vaccination, a conclusion premised upon the frightening assumption that the development of a safe and effective vaccine is guaranteed, and the dubious premise that natural infections can be held back “as long as it takes” to prepare and distribute the vaccine. However, according to Tedros, there is no other way:

      allowing a dangerous virus that we don’t fully understand to run free is simply unethical. It’s not an option.

      It’s difficult to reconcile this stance with the data from states and nations which did not lock down for COVID19. For example, Swedish all-cause mortality is on average for 2020 — incredibly, the nation had higher per-capita mortality just five years ago, in a year in which there was no pandemic. This undeniable, easily-verifiable fact is shocking in light of the decimation of world economies on the premise of “stopping” a “highly deadly” pathogen. Far from “unethical,” allowing the virus to “run free” produced a much better result than tight lockdowns such as those imposed in Argentina and Peru — yet Tedros is ignoring this. The question is: why?

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      The China-Paved Path to WHO Director-General

      In 2017, Nabarro and Tedros competed for the WHO Director-General role. For the first time, the position was filled by a direct vote of the member-states, and not by the WHO executive board. Tedros’s candidacy was mired in several scandals. Ethiopians and concerned global citizens pleaded with the countries voting in the election to reject Tedros because he was a representative of a repressive political regime who had helped to build and maintain a surveillance state with a total lack of government transparency. Critics pointed out that Tedros was “comfortable with the secrecy of autocratic states”— a characteristic that could wreak havoc on the world if he assumed a position of power within the WHO.

      Tedros also received criticism for his role in covering up cholera epidemics while he was Ethiopia’s Health Minister from 2005 until 2012. Tedros summarily dismissed the complaint, raised by one of Nabarro’s advisers, likening it to James B. Comey’s reopening of the investigation into Hillary Clinton’s private email server just days before the 2016 presidential election. He also attributed racial and elitist motives to his accuser, claiming “Dr. Nabarro’s backers have a ‘typical colonial mind-set aimed at winning at any cost and discrediting a candidate from a developing country.’”

      However, the undisputed facts depict a Health Minister who is doing one of two things: grossly neglecting cholera testing, or intentionally prioritizing his nation’s economy over protecting people from cholera. Tedros claimed that outbreaks of what he called “acute watery diarrhea” in 2006, 2009, and 2011 were not cholera, although he could not produce a test ruling out the deadly pathogen, and neighboring Somalia and Kenya disclosed cholera as the cause of their own simultaneous outbreaks. Tedros claimed that testing in his country was “too difficult,” but this was belied by the fact that outside experts were able to test and find the cholera bacteria in stool samples. Testing for cholera bacteria is simple and takes less than two days. It is hard to fathom why outside experts and other countries would be able to test while the Ethiopian government could not.

      Cholera can kill a person in as little as five hours. News of cholera outbreaks can have a quick and devastating impact on a country’s economy, so African nations sometimes fail to declare cholera emergencies even when they know for a fact that they have one. During the 2006 outbreak, for example, Ethiopia “did not share the results of lab tests since [the outbreak started]” because “it can mean some serious economic losses, especially in terms of international trade and tourism,” said Kebba O. Jaiteh, emergency officer in Ethiopia with the WHO.

      During earlier outbreaks of cholera in Ethiopia (or “acute watery diarrhea,” depending on who you believe), The Guardian and The Washington Post investigated and reported that Ethiopian officials “were pressuring aid agencies to avoid using the word ‘cholera’ and not to report the number of people affected.” Research by Human Rights Watch found that the Ethiopian government “was pressuring its health workers to avoid any mention of cholera, which could damage the country’s image and deter tourists.” Despite this accumulation of evidence, Tedros stood by his denial, preventing aid from being delivered to Ethiopia: the UN cannot act without permission and a declaration of an outbreak.

      Vaccines are also unavailable when a country fails to declare a cholera outbreak, so Tedros refused his countrymen this option even when their neighbors in Somalia and Kenya received it. This seems to have escaped the notice of Dr. Seth Berkley, CEO of Gavi, the vaccine alliance, who praised Tedros’s “commitment” to human health and vaccination: “Tedros’s commitment to immunization is clear . . . His work with Gavi as Ethiopia’s health minister helped boost the proportion of children reached by vaccines from less than half to more than two-thirds.” Other defenders of Tedros included former CDC director Tom Frieden, who was appointed by Barack Obama to head the Agency for Toxic Substances and Disease Registry. Frieden praised Tedros as “an excellent choice to lead the WHO,” and today vocally agrees with Tedros on lockdowns, masks, and social distancing.

      Tedros’s strongest and most important backer throughout these controversies was not an individual, but a government: China. As an opinion writer in the Indian press described it, “China propped Tedros.” American apathy in the public health arena had allowed China to “colonize” global health:

      “One reason that Tedros has gotten away with so much brazen cronyism is that America pays little to no attention to global public health, save pouring in money as a sugar daddy . . . China started a scheme for global health colonisation and won because America didn’t think it was important enough. The Chinese leveraged their investments across Africa to force the African Union to back Tedros, [and] also got Pakistan to withdraw its candidate who was opposing him, sources say . . . India’s diplomatic credentials helped in covering up Tedros’ shady past and the fact his main backer was a Communist dictatorship.”

      “I’ve Got Your Back, and You’ve Got Mine”: Tedros Backs the Chinese COVID19 “Supression” Strategy

      Fast-forward to the COVID19 epidemic. In early 2020, Tedros went to great lengths to congratulate China on its response to the “novel coronavirus.” On January 30, the WHO issued a statement effusively praising China’s response, highlighting the Chinese government’s “commitment to transparency” and efforts to “investigate” and “contain” the outbreak. The statement declares that China’s novel “lockdown” strategy — wherein dictator Xi Jinping welded people inside their apartments in the name of “disease control” — are “good not only for that country but also for the rest of the world.” Tedros followed this up with a tweet: “China is actually setting a new standard for outbreak response.” During this time period, hundreds of thousands of social media posts later traced to China praised the lockdown, and criticized and ridiculed world leaders who failed to follow suit.

      The WHO’s resounding praise of China continued into February 2020, when it convened a “Global Research and Innovation Forum” on the novel coronavirus to study “the origin of the virus, natural history, transmission, diagnosis, infection prevention and control,” among other things. On February 24, the group’s Joint Mission held a press conference to report on its findings, during which it declared, “there is no question that China’s bold approach to the rapid spread of this new respiratory pathogen has changed the course of what was a rapidly-escalating and continues to be deadly epidemic.” The stated basis for this unequivocal declaration on the effectiveness of lockdowns was as follows:

      “And there’s a couple of other graphics . . . here’s the outbreak that happened in the whole country on the bottom. Here’s what the outbreak looked like outside of Hubei. Here are the areas of Hubei outside of Wuhan. And then the last one is Wuhan. And you can see this is a much flatter curve than the others. And that’s what happens when you have an aggressive action that changes the shape that you would expect from an infectious disease outbreak.

      This is extremely important for China, but it’s extremely important for the rest of the world, where this virus you’ve seen in the last few days is taking advantage to explode in certain settings. And it wasn’t easy because what I didn’t mention on this slide is every one of these lines represent a huge decision by policy makers and politicians in this country and leaders to actually change the shape with big measures such as, you know, the suspension of travel, the stay-at-home advisories, and other incredibly difficult measures; to make decisions about, but also to get a population to follow. And that’s why, again, the role of the individual here in China is so important as well.”

      The Joint Mission’s conclusion that China’s actions “worked” is a perfect depiction of the classic logical fallacy post hoc, ergo propter hoc: Latin for “it happened after, so it was caused by.” While it is indeed possible that a “more flat” curve in Wuhan could be attributed to government mandates, there are equal or greater possibilities: one, that testing protocols differed; two, that China simply witnessed the natural course of this “novel” pathogen. The latter is particularly likely since there was no baseline with which to compare the proffered epicurves.

      It should be obvious that the mere issuance of government mandates does not automatically mean they were effective — this is particularly true here, since the global scientific community had previously considered and rejected large-scale quarantines as a method for controlling epidemics. Respiratory viruses never spread evenly throughout countries, provinces, or states, so it was nothing short of reckless to conclude that the noted variance in spread — which again, could be nothing but a recording error due to testing aberrations — was due to anything but natural factors. It was criminal to summarily conclude on this evidence that the Chinese government’s draconian actions led to a “favorable outcome,” and then use that patentily illogical conclusion to sell lockdowns to the rest of the world. But that’s just what the WHO did.

      “China didn’t approach this new virus with an old strategy for one disease or another disease. It developed its own approach to a new disease and extraordinarily has turned around this disease with strategies most of the world didn’t think would work . . . What China has demonstrated is, you have to do this. If you do it, you can save lives and prevent thousands of cases of what is a very difficult disease.”

      The Joint Mission repeated this assertion — “lockdowns work, they can and do save lives” — in various ways throughout its press conference, recalling to mind the words of a famous propagandist named Joseph Goebbels: “repeat a lie often enough and it becomes the truth.” Research shows that this illusion of truth effect “works just as strongly for known as for unknown items, suggesting that prior knowledge won’t prevent repetition from swaying our judgements of plausibility.” Our parents never heard of lockdown, and understood and accepted that humans sadly cannot “stop” a highly contagious infectious disease like the flu — even with a vaccine — yet suddenly most of the planet was behaving as if this were not only a reasonable mission, but something for which it was rational and desirable to sacrifice social lives, relationships, smiles, businesses, and educations in service of.

      At the helm of the WHO, Tedros undoubtedly played a key role in the creation of this perception. Thanks to the many individual worldwide lockdown experiments, we now know that he was dead wrong: no lockdown was ever needed to “flatten the curve” — in fact, lockdowns spiked the curve. No-lockdown Sweden’s epicurve was much flatter than many areas with tight lockdowns, including New York City, Italy, and Spain. While this may be adequately explained by Hanlon’s Razor, it is very interesting that the Joint Mission took great pains to protect China’s trade and travel interests despite advocating simultaneous lockdowns for other nations:

      “And this brings us to what I think is one of the most important recommendations we would make in respect to getting China fully back on its feet after this crisis. The world needs the experience and materials of China to be successful in battling this coronavirus disease. China has the most experience in the world with this disease, and it’s the only country to have turned around serious large-scale outbreaks. But if countries create barriers between themselves and China in terms of travel or trade, it is only going to compromise everyone’s ability to get this done. And those kinds of measures need to be anything that goes beyond what’s been recommended by the IHR committee, has got to be reassessed, because the risk from China is dropping, and what China has to add to the global response is rapidly rising.

      The human rights community did not share this enthusiasm for China, its draconian lockdown, or its offer to “help” other nations contend with the virus. On February 2, The Guardian published an opinion piece by a human rights advocate outlining the lockdown’s serious human rights violations and opining that the WHO broke its own commitment to “human rights and health” by praising China. The WHO’s commitment reads in part:

      “Human rights are universal and inalienable. They apply equally, to all people, everywhere, without distinction. Human Rights standards — to food, health, education, to be free from torture, inhuman or degrading treatment — are also interrelated. The improvement of one right facilitates advancement of the others. Likewise, the deprivation of one right adversely affects the others”

      To protect these “universal and inalienable” human rights during a public health emergency, international law requires that restrictions on human rights be based on legality, necessity, proportionality and grounded in evidence. Similarly, the Siracusa Principles — in which the United Nations outlines an overarching international covenant on civil and political rights — state that restrictions on rights and freedoms in the name of public health must be strictly necessary and the least intrusive available to reach their objective:

      “In the exercise of his rights and freedoms, everyone shall be subject only to such limitations as are determined by law solely for the purpose of securing due recognition and respect for the rights and freedoms of others and of meeting the just requirements of morality, public order and the general welfare in a democratic society.”

      “Lockdown” goes far beyond these basic human rights boundaries. They are proven now to only damage societies — they even worsen COVID19 outcomes. When The Economist analyzed all recorded epidemics since 1960, it concluded that “democracies experience lower mortality rates for epidemic diseases than their non democratic counterparts.” This finding holds true at all levels of income.

      Tedros aligned himself not with democracies and their fundamental principles but with an autocratic dictatorship, the same dictatorship that helped him assume power within the WHO. Together, using logical fallacies and pseudo-science, they betrayed international law governing human rights, the WHO’s own stated principles, and committed crimes against humanity on a massive scale. Should we continue to listen to Tedros, or should we turn to Dr. Nabarro, another qualified expert who — like the thousands who signed the Great Barrington Declaration — urges a return to democratic norms as necessary to minimize human suffering?

      “Lockdowns just have one consequence that you must never, ever belittle, and that is making poor people an awful lot poorer. Just look at what’s happened to smallholder farmers all over the world. Look what’s happening to poverty levels. It seems that we may well have a doubling of world poverty by next year.” — Dr. David Nabarro

      It is no longer possible to ignore Tedros Adhanom Ghebreyesus’s long history with suppressive autocratic regimes, including China. Whatever the motivation behind his advocacy for continued lockdowns, the data invalidates his position unequivocally. Lockdowns do not save lives — lockdowns kill. The reign of tyranny must end, immediately and forever, with a full restoration of the rights and privileges of each individual citizen to choose what level of risk he or she will accept as a law-abiding member of a functioning, democratic society.

      WHO, what, where, and why? We don’t yet have all of the answers, but we do know that the WHO director-general is on the wrong side of the lockdown debate.

    • "Attempted Robbery" – Security Guard Assigned To Ballot Box Shot In Baltimore
      "Attempted Robbery" – Security Guard Assigned To Ballot Box Shot In Baltimore

      Tyler Durden

      Fri, 10/16/2020 – 22:30

      The virus pandemic has resulted in an unprecedented number of Americans voting by mail or using ballet drop boxes this election season. Some of these drop boxes, especially those in Baltimore City, are guarded by a private security force, considering the liberal-run metro area is a violent mess

      On Thursday, Baltimore City police confirmed a ballot box security guard was shot and wounded in Northeast Baltimore, reported local news WBAL-TV 11

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      City police said the incident occurred in the early morning hours on Thursday, outside the Achievement Academy in the 2200 block of Pinewood Ave. Officers found the 24-year-old security guard shot multiple times – was immediately taken to a hospital with non-life-threatening injuries.

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      Baltimore City Election Director Armstead Jones told The Baltimore Sun that the guard was contracted by a private security company operating on behalf of the Baltimore City Board of Elections to monitor the city’s ballot drop boxes.

      “After looking at video surveillance footage of the parking lot, detectives learned that armed subjects approached the victim’s vehicle and tried to open the car door,” police said in a statement.

      The statement continued, “the ballot box was not touched and did not appear at any time to be the focus of the gunmen.”

      Election officials said the guard was in serious but stable condition: 

      “Our thoughts are with the victim of this morning’s tragic shooting as well as his loved ones. We are actively cooperating with the authorities investigating this matter. Because this is an ongoing investigation…,” Maryland Elections tweeted. 

      While police do not believe the attempted robbery had anything to do with the ballot box, the incident’s timing is suspicious weeks before the presidential election. 

    • Pelosi, Barrett, & The False Face Of Modern Feminism
      Pelosi, Barrett, & The False Face Of Modern Feminism

      Tyler Durden

      Fri, 10/16/2020 – 22:10

      Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

      Something truly amazing happened this week in American politics. The false narratives of modern feminism collapsed completely as Judge Amy Coney Barrett waltzed through her confirmation hearing.

      But to make my point I first have to deal with Speaker of the House Nasty Nancy Pelosi’s appearance on CNN.

      While Barrett was dealing with the dementia of the Senate Judiciary Committee, Pelosi finally came face to face with strength in the unlikely form of Wolf Blitzer and lost complete control of his Situation Room.

      If you watch this entire sequence carefully you’ll note that Blitzer simply held to his point that she wouldn’t answer, why not pass some stimulus bill now and get something done, even if it’s perfect?

      Madame Speaker, you have a chance to alleviate suffering and you’re playing politics.

      We know what the answer is, because it would allow President Trump a victory on the eve of an election. We know Pelosi is a pure political animal (and her behavior here truly sinks to that level).

      But, that’s not what’s interesting, here.

      It is how transparent she is mad about not automatically being allowed to control the conversation to recite her talking points. She obviously feels entitled to the power of Wolf’s platform.

      Going Big, Going Home

      And she was not expecting this. When confronted with it she launches a personal attack which fails completely. In politics, the first rule is, “You never attack down.”

      Pelosi knows this, that’s why she uses her position as a woman to frame her attacks up against Trump the way she does, playing the girl card whenever she can. But on this issue she can’t attack Trump because Trump said…

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      And that’s when it all collapsed. This is THE fight of Pelosi’s career, not the impeachment. It is this stimulus bill because she’s held the entire country hostage over it to win an election after displacing and ruining the lives of hundreds of millions of people.

      She lost because she attacked down, at a TV talking head no less, not a political rival. You can see it on her face, as Speaker why should she have to justify herself to someone she considers ‘the help’ like Wolf Blitzer.

      I mean, for pity’s sake, who is actually lower on the DC political totem pole than Wolf Blitzer?

      And Pelosi ran up against him and shattered like brittle glass.

      And when I say shattered I mean atomized, not just for her but for all the crazy, out-of-control feminists she represents. Her carefully crafted facade of the strong-minded, independent woman who could stand toe-to-toe with a man evaporated in between heartbeats.

      Watch the video closely. You’ll know that moment when it happens.

      Easy Rider

      The reason Blitzer took her down so easily is because she’s never seriously challenged. People like Pelosi can put up the false face of strength and baldly lie because they’re given all the advantages before they ever walk onto the battlefield.

      Her reputation is a facade, carefully constructed by the people who control her.

      She has a job to do. She’s paid extremely well to do it. But she’s overplayed her hand multiple times against Trump and lost. And it seems CNN and the people who direct it decided it was time to cut bait and leave her twisting in the wind.

      The mere fact that Blitzer was told during this interview to go after her is your sign that something has fundamentally changed.

      The rats are leaving the sinking ship which has steered the good ship Corn Pop into the iceberg of the silent majority that have had more than enough of their inhumanity.

      Pelosi is the false face of female power, a pathetic excuse for a vaudeville whore, drunk on a fatuous ideology equal parts envy and disdain that has women bullying men into submission so they can validate their own soulless choices.

      Because in her twisted mind, without her and her awesome power of government, none of us would survive in the big bad world.

      And it came out in full when she had her, “You didn’t build that” moment, saying that she’s the one who feeds her constituents, implying that without her they wouldn’t eat.

      “… and we feed them,” she said multiple times. Really, Nancy? Without you we’d all just starve?

      Bitch, Please!

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      The Barrett Moment

      Juxtapose that with the other remarkable event this week.

      The moment when Supreme Court Nominee Amy Coney Barrett after suffering through idiotic question after question from beta male and hysterical female Senators about her stance on abortion held up a blank notepad showing the world how well-prepared she was for the situation.

      She projected the kind of calm patience and competence that comes from inner strength. And she did it with only her knowledge of the law, her understanding her role as a jurist and the strength of purpose that comes from being a person of deep faith.

      Let’s put it this way, like Mike Pence the week before in his debate with Kamala Harris, Mrs. Barrett reflected awfully well on the man who selected her for the job, Donald Trump.

      In doing so she projected the exact opposite of what Pelosi did, respect for the hierarchy and the reason it exists — to do it’s best to serve the people who created it.

      Pelosi has spent the last two years trying to upend that hierarchy, to dominate Trump through lies and manipulation of rules, holding the entire country hostage to her truly reprehensible lust for power.

      Mrs. Barrett, on the other hand, is supposed to be this dinosaur who will set the court back a hundred years replacing the tyrant and mid-wit Ruth Bader Ginsburg while hysterical women cosplayed outside the Capitol in Handmaid’s Tale garb.

      But all she did was bring a quiet dignity back to what had become a circus in the fake world of social and television media. Wolf Blitzer did the same thing.

      Devil Take the Hindmost

      We’ve lost something vital in this election cycle, a sense of dignity and propriety thanks to a winner-take-all attitude that is an outgrowth of the insane power concentrated in the dystopic world of Washington D.C.

      We’re not likely to get it back anytime soon.

      But this week may have finally been a turning point after nearly eight months of literal insanity where people finally saw something that wasn’t a complete theater of the absurd, allowing jackals and flying monkeys to set the tone for our future.

      While I have misgivings about Mrs. Barrett’s potential as the kind of Supreme Court Justice I’d prefer to see on the court there can be no doubt that she knows her way around a job interview.

      And it was refreshing to she her hold her ground and not take any bait from the ridiculous lying simps and harpies grilling her.

      Pelosi, on the other hand, has been in her job for so long she can’t even conceive of not being entitled to imposing her will on everyone no matter the costs. And she’s so caught up in her own personal psychodrama she forgot she still has to interview for her job every two years.

      Politics is supposed to be the art of the possible, that’s usually a convenient excuse justifying surrender. Feminists thrive on male surrender.

      But Feminism collapses in the face of male competency. Real female power comes from giving men a reason to fight for them, a purpose for their struggle and sacrifice. No self-respecting man would lift a finger for a witch like Pelosi.

      Every man alive would walk through hell for a woman like Mrs. Barrett.

      That’s what changed this week. And what’s truly sad is that we should be thankful for it.

      *  *  *

      Join my Patreon to join the struggle against the Witches of K Street. Install the Brave Browser to spit in the eye of Big Tech’s Entitlement to your data.

    • Raytheon Unveils Next-Generation Battle Tank To Replace Bradley Fighting Vehicle
      Raytheon Unveils Next-Generation Battle Tank To Replace Bradley Fighting Vehicle

      Tyler Durden

      Fri, 10/16/2020 – 21:50

      Since becoming President, Donald Trump has pumped unprecedented amounts of taxpayers dollars into the military-industrial complex, showering defense companies with trillions of dollars to build the latest and greatest war machines. 

      From hypersonic missiles to fifth-generation fighter jets to new stealth bombers to new combat drones to advanced field rifles, the U.S. military is rapidly modernizing because of President Trump’s aggressive funding policies. 

      Flushed with cash, the Pentagon could select Raytheon Technologies/American Rheinmetall Vehicles’ Lynx Infantry Fighting Vehicle to replace the aging Bradley Fighting Vehicle, which first entered service in 1981. 

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      Lynx will be Americanized for the Army’s Next-Generation Optionally Manned Fighting Vehicle, called OMFV. Brad Barnard, director of OMFV at Raytheon Missiles & Defense, was quoted in a Raytheon press release as saying the Lynx was “designed specifically for the battlefield of the future.” 

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      Raytheon said the new tank would be outfitted with “advanced technologies such as a counter-unmanned aircraft system, anti-tank weaponry, active protection system and a sighting system that can see through smoke, rain, snow, and fog beyond enemy range.”

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      “The vehicle will be faster, smarter, more agile, and more survivable than the Bradley Fighting Vehicle that I worked with,” said Pat McCormack, a former Bradley master gunner for the Army and now an employee at Raytheon. 

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      Lynx includes an invisible missile shield around the vehicle that destroys all chemical energy anti-tank threats and other threats before reaching the vehicle. We noted this new advanced defense shield in 2018, called the TROPHY Active Protection System, which at that time, was being installed on M1 Abrams main battle tanks. 

      Video: Watch The Lynx In Action

      McCormack said the four-decade-old Bradleys would have trouble against new emerging threats on the modern battlefield. He noted with Lynx, the tank “employ revolutionary capabilities” that makes it one step ahead of the enemy.

      Not too long ago, Textron Systems, via its subsidiary Howe & Howe, released a statement saying it was set to deliver robot tanks to the Army.  

    • The Catch-22 of Woke Racism… And Other Absurdities
      The Catch-22 of Woke Racism… And Other Absurdities

      Tyler Durden

      Fri, 10/16/2020 – 21:30

      Authored by Simon Black via SovereignMan.com,

      Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, risks to your prosperity… and on occasion, inspiring poetic justice.

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      The Catch-22 of Woke Racism

      Residential Assistants, or RAs, are college students who enforce rules in college dorms and act as a resource for younger students.

      During training, a university in Kentucky sent White RAs to a breakout session called, “White Accountability Space.”

      We’ve seen this sort of thing before, where colleges segregate students in the name of “safe spaces.”

      But this time, the White RAs were given a list of 41 “common racist behaviors and attitudes of white people.”

      And you wouldn’t believe some of the behaviors that apparently make you racist.

      For example, asking a person of color to repeat themselves is racist.

      If you believe there is a right way to do something, that is automatically racist because, according to the document, the “right way” really means the “white way.”

      The document cited plenty of other racist microaggressions, but among the most amazing were the impossible double-standards.

      Number 35 on the list, for example, says that aggressively confronting a racist White person is itself a racist tactic because it’s an attempt to distance yourself from racism.

      But number 39 says it is racist to “avoid confronting other whites on their racist attitudes and behaviors.”

      So, just to be clear, if you confront someone else for being racist, then you’re racist. But if you don’t confront them, then you’re also racist.

      Make sense?

      Of course not. But that’s woke logic for you.

      Click here to see the training document.

      *  *  *

      Dictionary changes definition of “preference” for Twitter mob

      For a long time, the terms “sexual orientation” and “sexual preference” have been used interchangeably without controversy.

      That all changed in an instant when Judge Amy Coney Barrett said “sexual preference” during her Supreme Court nomination Senate hearings.

      A few extra-woke Senators chastised Barrett, claiming the word “preference” implies that gay people choose their sexual orientation.

      Judge Barrett apologized and said that was not her intention.

      But the Twitter mob still exploded. In the bizarre parallel universe of Social Justice Warriors, “preference” immediately became an offensive term.

      And to help them make their case, Merriam-Webster changed their entry of the word “preference” in the dictionary to include a definition that it is “offensive”.

      Of course, the hypocrisy of the Twitter mob is never too far off. The liberal Supreme Court Justice Ruth Bader-Ginsberg, for example, used the term “sexual preference” as recently as 2017 without any controversy whatsoever.

      Something tells me they won’t be ripping down her statues anytime soon.

      Click here to read the full story.

      *  *  *

      You’ll See What Facebook and Twitter Want You to See

      You’ve probably heard by now that the New York Post ran a story this week which, to put it mildly, was very unflattering for a certain US Presidential candidate and his family.

      But the real issue is that social media tech giants like Facebook and Twitter squashed the story; both platforms tried to ban the New York Post article from being shared.

      Facebook limited distribution until it could be fact-checked, and Twitter completely blocked the URL from being shared.

      It’s a pretty sad state of affairs when the big technology companies, who are supposed to exist to facilitate free and open communication among users, have turned into totalitarian censors, deeming in their sole discretion what the truth is.

      They hold the same standard for Covid-related content; if you dare utter a word that doesn’t conform to guidelines published by the World Health Organization (i.e. the guys who are in the pockets of the Chinese Communist Party), then you’ll be censored or banned from their platforms.

      Twitter has at least acknowledged its stupidity and has committed to changing its censorship policy.

      Click here to read the full story.

      *  *  *

      More People Arrested for Marijuana than All Violent Crimes

      Since 1973, states have been decriminalizing marijuana. Since 1996 states have been legalizing medical cannabis.

      Now, 11 states have legalized recreational marijuana use, and 33 allow some sort of medical use of cannabis.

      Yet a just-released report from the federal government shows that, in 2019, more people were arrested for marijuana-related crimes than all violent crimes put together.

      According to the FBI uniform crime reports, almost 546,000 people were arrested in 2019 for cannabis related crimes. And 92% of those arrests were for simple possession– not selling, not growing, not driving under the influence–just having weed.

      Meanwhile, about 496,000 people were arrested for violent crimes in 2019.

      Click here to see the data.

      *  *  *

      On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years. That’s why we published a new, 50-page long Ultimate Guide on Gold & Silver that you can download here.

    • Putin Wants "Clear Answer" From US On Nuclear Arms Treaty, Offers 1-Year Extension 
      Putin Wants "Clear Answer" From US On Nuclear Arms Treaty, Offers 1-Year Extension 

      Tyler Durden

      Fri, 10/16/2020 – 21:10

      At the start of this week it was widely reported that President Trump is seeking a last minute pre-election nuclear deal with Russia given the New Strategic Arms Reduction Treaty (New START) is set to expire by this upcoming February.

      Russia and the US have held recent talks for its five-year extension in Vienna and Helsinki within past weeks, but there’s little substantial progress despite optimistic statements by the US delegation. Russia has consistently pushed for an unconditional five-year extension of the treaty, but it appears Putin is now ready for some level of compromise.

      On Friday Putin informed the Russian Security Council of plans to push for an extension of at least one year without any preconditions.

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      A prior G-20 summit where the two leaders met, via AP

      “I have a proposal to extend the existing treaty without preconditions for one year, at least,” he said according to TASS. “So that we could hold substantial talks on all parameters of the issues, regulated by treaties of this kind, so that we do not leave both our countries and all states of the world without such fundamental agreement as the New START,” he underscored.

      However, with the clock winding down on the last major arms control agreement between Moscow and Washington, after prior late Cold War era treaties like the INF and Open Skies faltered, Washington has so far remained firm it its position that it will only consider a short-term extension if a new agreement brings all nuclear warheads including those possessed by China into the framework.

      The Kremlin has previously called the US plan “absolutely unrealistic,” which brought talks to an impasse. But Putin is now pushing for “some kind of a clear answer” amid reports that Trump is eager to see a deal for the nuclear arms reduction treaty to continue.

      “Please, define our position to the American partners and in the near future attempt to receive from them some kind of a clear answer,” Putin said. “It would be extremely tragic, if the treaty ceases to exist, without being replaced with another fundamental document of this kind,” he added.

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      August 2019 U.S. launch of a conventionally configured ground-launched cruise missile off California coast, DoD via AP.

      “For all these years, the New START worked, worked perfectly, performed its fundamental role of a limiter, curbing the arms race,” Putin underscored.

      Of course, included in Russia’s calculation is the US election. The Russians are likely quite happy to stall and wait things out a mere few weeks to see if Biden comes out on top, given the Democratic nominee has clearly indicated he’s ready to agree to the unconditional 5-year extension of the landmark nuclear arms reduction treaty.

    • Imagine If MSM Consistently Applied The Evidentiary Standards It's Applying To Hunter Biden's Emails
      Imagine If MSM Consistently Applied The Evidentiary Standards It's Applying To Hunter Biden's Emails

      Tyler Durden

      Fri, 10/16/2020 – 20:50

      Authored by Caitlin Johnstone,

      Mainstream media and social media platforms are actively blacking out an October surprise published by The New York Post which purports to show “smoking gun” emails from the laptop of Hunter Biden, son of Democratic nominee Joe Biden.

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      Both Twitter and Facebook have censored the story on their platforms, the first time we’ve seen the powerful social media giants deplatform a mainstream news media article, both citing concerns about the origins of the emails and an uncertainty about the veracity of the claims.

      Facebook was limiting distribution of the story while its outside fact-checkers reviewed the story’s claims, spokesman Andy Stone said,” reports NPR, adding that “Twitter said it decided to block the story because it couldn’t be sure about the origins of the emails.”

      Twitter claims it found the emails to be in violation of its policies banning content which contained private information and its rules against “hacked materials”, both of which would have forbidden all articles sharing the contents of the 2016 WikiLeaks drops if those rules had existed back then. As I warned could happen back in August, these rules have set the stage for the cross-platform censorship of a 2020 October surprise.

      https://platform.twitter.com/widgets.js

      There’s a good thread going around Twitter compiling posts that mainstream media reporters have been making in objection to the circulation of Hunter Biden’s emails alongside posts made by those same reporters promoting far more ridiculous and insubstantial allegations, like MSNBC’s virulent Russia conspiracy theorist Kyle Griffin saying nobody should link to the New York Post report because if they do they’ll be “amplifying disinformation”.

      A new Reason article discusses how the mass media are not just avoiding the story but actively discouraging it:

      On Wednesday, The New York Post published an attention-catching original report: “Smoking-gun email reveals how Hunter Biden introduced Ukrainian businessman to VP dad.” In the previously unreleased email, which was allegedly sent on April 17, 2015, an executive with Burisma, the Ukrainian natural gas company, thanks Hunter Biden for “giving an opportunity” to meet Joe Biden, according to The NY Post.

      It’s a story that merits the attention of other journalists, political operatives, national security experts, and also the public at large—not least of all because there are serious questions about its accuracy, reliability, and sourcing. And yet many in the media are choosing not just to ignore the story, but to actively encourage others to suppress any discussion of it.

      Indeed, two mainstream reporters who acknowledged (and criticized) the Post‘s scoop—The New York Times‘ Maggie Haberman and Politico’s Jake Sherman—faced thunderous denunciation on Twitter from Democratic partisans simply for discussing the story. Center for American Progress President Neera Tanden accused Haberman of promoting disinformation, and New York Times columnist Michelle Goldberg told Sherman that he was helping nefarious conservative activists “launder this bullshit into the news cycle.” Historian Kevin Kruse asked why they were “amplifying” the story.

      Indeed a scroll through today’s mainstream news reporting does appear to show some consensus among most news media that the topic of the emails should be avoided, with most MSM articles on the matter covering the after-effects of the New York Post release or explaining why readers should be dubious about its contents. A new Washington Post article titled “Hunter Biden’s alleged laptop: an explainer” takes great pains to outline how important it is to be very, very certain that this story is everything it purports to be before investing any credulity in it.

      “How do we know the email is authentic? We do not,” WaPo tells us. “The New York Post posted PDF print-outs of several emails allegedly from the laptop, but for the ‘smoking gun’ email, it shows only a photo made the day before the story was posted, according to Thomas Rid, author of Active Measures, a book on disinformation. ‘There is no header information, no metadata.’ The Washington Post has been unable to independently verify or authenticate these emails, as requests to make the laptop hard drive available for inspection have not been granted.”

      This would be the same Washington Post that has been circulating disinformation about Russia for years due to its disinterest in verifying information before reporting, and has alongside the rest of the mass media been promoting the narrative that Russia interfered in the 2016 US election based solely on unproven assertions promoted by government agencies despite many gaping plot holes in that narrative. Where was the journalistic concern for seeing the data and inspecting the hard drives then?

      https://platform.twitter.com/widgets.js

      In and of itself there is no problem at all with mainstream news media applying high evidentiary standards to its reporting and making sure readers are aware when political manipulators could be pulling the wool over their eyes. In and of itself this would be a good thing. The problem is that all this emphasis on verification and truth only comes up when it is politically convenient for these plutocratic media outlets, because only favoring truth when it’s convenient is the same as lying constantly.

      Where were these high evidentiary standards when The Guardian reported without evidence and against all common sense that WikiLeaks founder Julian Assange had been having secret meetings with Trump lackey Paul Manafort? That evidence never came out, because the story was ridiculous bullshit from the beginning, yet mass media outlets everywhere parroted it to their audiences like it was a fact. You can still post that bogus Guardian story on Twitter and Facebook to this very day without so much as a warning.

      Where were these high evidentiary standards when Politico published the idiotic, nonsensical story that Iran was plotting to assassinate the American ambassador to South Africa? The report sparked many news reports and Twitter threats from the president, but when it was dismissed by the South African government itself there was barely a whisper about it. You are still free to share this bogus Politico article anywhere online you like.

      Where were these high evidentiary standards when leaks by anonymous spooks dominated headlines for days with their evidence-free allegation that the Russian government had been paying Taliban-linked fighters bounties on western occupying forces? We now know that story was completely baseless and would have been dismissed by news reporters who were actually doing their due diligence, yet it’s still being cited as fact on Twitter by sitting US senators and in a recent vice presidential debate by Kamala Harris. If news reporters had spent anywhere near as much energy cautioning their audiences to be skeptical about this story and educating them about its plot holes as they’re spending on Hunter Biden’s emails, this would not be happening.

      https://platform.twitter.com/widgets.js

      The problem is not that there are high evidentiary standards for Hunter Biden’s emails, the problem is that there are virtually no evidentiary standards when the plutocratic media want to sell the world on a narrative which benefits the establishment upon which the media-owning class has built its kingdom. News reports will be waved through on a vague assertion by some anonymous government operative if they are damaging to Russia, Iran, China, North Korea, Syria or any other US-targeted nation, and they are on a pretty much daily basis to greater or lesser degrees.

      If a news report facilitates the national security state, all journalistic protocol goes out the window and nobody knows the meaning of the word evidence. As soon as a report becomes inconvenient for a friend of the national security state like Joe Biden, suddenly strict evidentiary standards and warnings against potential disinformation are of paramount importance. This is the same as lying all the time.

      They lie because the mass media within the US-centralized empire are the propaganda engine for that empire. The drivers of empire understand that whoever controls the narrative controls the world, so they ensure that all points of narrative influence are tightly controlled by them.

      A world where all news stories are held to the same evidentiary standards as Hunter Biden’s emails are currently being held would be a world without empire. People would never consent to the insanity of imperialism and endless war if their consent wasn’t manufactured, and depriving them of the information that is inconvenient for that empire is essential in that manufacturing.

      *  *  *

      Thanks for reading! The best way to get around the internet censors and make sure you see the stuff I publish is to subscribe to the mailing list for at my website or on Substack, which will get you an email notification for everything I publish. My work is entirely reader-supported, so if you enjoyed this piece please consider sharing it around, liking me on Facebook, following my antics on Twitterthrowing some money into my tip jar on Patreon or Paypal, purchasing some of my sweet merchandise, buying my books Rogue Nation: Psychonautical Adventures With Caitlin Johnstone and Woke: A Field Guide for Utopia Preppers. For more info on who I am, where I stand, and what I’m trying to do with this platform, click here. Everyone, racist platforms excluded, has my permission to republish, use or translate any part of this work (or anything else I’ve written) in any way they like free of charge.

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    • Fall Enrollment Slides As Coronavirus Threatens Higher-Education Bubble
      Fall Enrollment Slides As Coronavirus Threatens Higher-Education Bubble

      Tyler Durden

      Fri, 10/16/2020 – 20:30

      For the last six years we have sounded louder and louder concerns that the higher-education bubble would eventually deflate. However, no one at the time anticipated that a virus-pandemic would be the pin that pops it all.

      Take, for example, the 2020 fall semester, the number of first-year undergraduate students are in freefall across the country, down 16%, when compared to 2019 fall semester, according to a new report by the National Student Clearinghouse Research Center (NSCRC). Overall undergraduate enrollment slid 4%  from this time last year, mostly because of the 13.7% drop in international students.

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      Naked Capitalism’s Yves Smith points out that virus-related enrollment declines are happening at a time when colleges and universities’ revenues were already slumping, potentially creating a perfect storm of campus closures. 

      “Empty seats are inflicting financial damage on colleges already reeling from the pandemic. Earlier this year, when the virus began spreading, many schools cleared their campuses of students and refunded housing costs. With enrollment warning, revenue from tuition, dormitories and dining halls is being hurt at a time when some institutions are posting low endowment returns,” Bloomberg said. 

      Jack Maguire, the founder of the enrollment-consulting firm Maguire Associates and former dean of admissions at Boston College, warned that “colleges are losing billions of dollars” as the virus continues to rage across the country. 

       “It may not be the end of it if this new wave hits and students are sent home again,” Maguire said. 

      NSCRC showed enrollment slumps were the most drastic at community colleges, down 9.4% overall, and 22.7% for first-year students. Undergraduate enrollment at four-year public colleges and universities fell 1.4% overall, and down 13.7% for first-year students. As for private nonprofit colleges, overall enrollment was down 2%, and -11.8% for first-year students.

      Despite undergraduate enrollment down across all types of institutions, private for-profit colleges recorded a 3% increase. 

      Nationwide, the Midwest experienced the steepest declines, sliding 5.7%. Bloomberg notes, “schools in the region have enrolled fewer students in the last several years, mainly because of demographic trends.”

      Regional Enrollment Percentage Change From Previous Fall Semester 

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      There was one arguably (are they merely staying in school rather than venture out into the ‘real’ world and face an ugly labor market) bright spot in the report – a 2.7% increase in graduate student enrollment – but, overall, the entire report is just more troubling news the higher education bubble that faces implosion. What this means is that financially weak colleges, those with the weakest balance sheets, will be the first to shutter operations. Not even state schools will be immune to the downturn as state and local taxes are set to plunge. 

      In September, Moody’s Investors Service downgraded the credit outlook for colleges and universities to negative. Disruptions in enrollment, declining international students, and a decline in research grants and contracts were some reasons Moody’s outlined for the downgrade. They noted international students account for about 5% of total college and university enrollment. 

      Growth Of Chinese Undergraduate Students In US Set To Reverse 

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      Inside Higher Ed, a trade publication, notes since 2016, that at least 20 private colleges have shuttered their campuses. The slump is set to pressure financially weak schools first but could result in large state schools to close regional campuses to cut costs. 

      Not too long ago, we pointed out how Green Mountain College, a private liberal arts college in Poultney, Vermont, went up for auction and eventually sold to the winning bid of $4.5 million. 

      To sum up, the great college bull market is over. At the start of the year, we cited Mauldin Economics, who said:

       “20% of colleges and universities will shut down or merge in the next ten years.”

      … and maybe the virus pandemic has accelerated the collapse of higher education. 

      One last thing: What happens to metro areas that were built primarily around colleges? Does the higher education bust trigger a domino effect in the economy? 

    • Time For A Real Change At The FBI
      Time For A Real Change At The FBI

      Tyler Durden

      Fri, 10/16/2020 – 20:10

      Authored by Marc Ruskin via The Epoch Times,

      Anyone harboring doubts as to the merely cosmetic changes made in leadership at the FBI can now put those doubts to rest. President Donald Trump received some poor advice when he came to select white-shoe attorney Chris Wray to replace James Comey as FBI director.

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      An examination of Wray’s Sept. 17 testimony before the House Homeland Security Committee causes the jaw to drop in disbelief, even for grizzled veteran FBI agents inured to the bureau’s descent into the realm of a politicized instrument of the executive branch. Much of the testimony consisted of conclusory statements that appeared to reflect Democrat talking points, rather than independent determinations based on articulated facts.

      He categorized Russian intermeddling with the U.S. elections as the primary global menace, taking a position contrary to that of his boss, Attorney General William Barr, who stated publicly on CNN, when interviewed by Wolf Blitzer on Sept. 2, that China poses the greater threat to the legitimacy of the election.

      When queried as to whether Russia’s efforts favored either side, Wray stated that the Russian covert tactics sought to “denigrate Biden.”

      Wray’s unsupported statements regarding whom the Russians would prefer to see win the election shouldn’t be taken at face value. Traditionally, the Russians have sought to wreak havoc among all candidates and parties. Wray should be pressed to present the evidence supporting his statements, particularly as they appear absurd on their face, and contrary to the reasonable best interest of the Russians, who would stand to benefit from a weak president, one who has demonstrated a softness on economic sanctions while serving as vice president.

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      Curiously, on the subject of domestic terrorism, the director stated that “we look at Antifa as more of an ideology or movement than an organization.” The implication that they are mutually exclusive is left unexplained. More significantly, this more benign assessment of Antifa by the FBI would inevitably color the nature and scope of investigations into this non-organization, this ideology that dons uniforms, provides training in tactics, stockpiles weapons prior to riots, and is sufficiently well-funded to pay travel and subsistence to its operatives.

      Wray went on to say that the single largest category of domestic terrorism is that arising from white supremacist organizations.

      Again, he should be required to present the statistics, as notably the greatest degree of urban violence over the past several months hasn’t been the result of rioting by the Aryan Nations or the Ku Klux Klan. Not surprisingly, Democrat politicians, most notably Sen. Chuck Schumer (D-N.Y.), and television commentators such as Fox’s Juan Williams, have picked up on the self-serving talking points provided by Wray, and are parroting back his conclusions, predictably expanding upon them by attributing the results to the entire FBI, rather than as the personal opinions of the director, which they appear to reflect.

      Misleading statements by Wray found themselves serving the Democratic Party cause in the first presidential debate on Oct. 29, not only with respect to the statements concerning white supremacist organizations, but additionally with regard to the controversy between absentee ballots and mail-in ballots.

      Despite the numerous ongoing FBI investigations into voter fraud arising from the use of mail-in ballots, Wray stated (as reported by The Washington Post’s Devlin Barrett) in testimony before the Senate Homeland Security Committee on Sept. 24 that “we have not seen historically any kind of coordinated national voter fraud effort in a major election, whether it’s by mail or otherwise.”

      Presumably, Wray’s perception of history doesn’t reach back to the Kennedy–Nixon election of 1960 and allegations of major voter fraud in then-Mayor Richard Daly’s Chicago.

      Regardless, the director’s statement is devoid of significance, as mail-in ballots have never been utilized on the currently contemplated scale, nationwide, as a significant component of a closely contested presidential election.

      What “we have seen historically” is of no consequence. What we may see—next month—is of historic significance, and warrants significant attention and the commitment of major resources by the FBI, under whose jurisdiction falls the safeguarding of free and fair elections.

      2 Cultures

      Behind the opaque curtains of the FBI, there exists two distinct cultures:

      1. Upper Management, centralized at FBIHQ, also known as the Hoover Building (JEH), and

      2. The Field, populated by the special agents who conduct the myriad investigations, domestically and abroad, often at great personal risk, to protect the nation and the Constitution.

      It’s the culture of the former, the directors, assistant directors, deputy assistant directors—the occupants of the JEH C-Suite—who have tarnished the reputation of the bureau and jeopardized its role as an independent and objective guardian of free society.

      Fortunately, field office management remains committed to addressing immediate law enforcement needs at the local level, filling the gaps left by local politicians, governors, mayors, and prosecutors who have redirected their energies in response to politicized calls for defunding and “reforming” the police.

      The special agent in charge of the New York FBI’s Criminal Division, Jacqueline Maguire, currently oversees an enhanced cooperative effort—uniting FBI field agents and New York Police Department task force officers to fight the city’s rapidly rising level of violent crime. Implementation of changes to New York State laws limiting the powers of state judges to set bail for violent offenders, along with New York City police budget cuts and the dismantling of the NYPD’s hugely successful plainclothes anti-crime units by Mayor Bill de Blasio, have resulted in dramatically increased criminal activity.

      The New York FBI, assisted by federal prosecutors, has responded by assuming jurisdiction when appropriate. Violent felons, arrested by NYPD/FBI investigators, and anticipating revolving door justice and a rapid release, are stunned to find themselves in federal court, facing substantial prison terms while awaiting trial at federal facilities. The Field has not, must not, and will not fail the American people.

      For this, a strong, independent, and neutral director is a sine qua non.

      One can’t begin to imagine former Directors Louis Freeh and William Webster bending to the will of a political authority with regard to affecting the conduct and outcome of an FBI investigation. Then, a shift occurred—commencing under the stewardship of Robert Mueller and accelerating under Comey—toward malleability in the face of political pressure and a concomitant loss of independence and integrity for the institution itself.

      The most significant issue that arises insofar as civil liberties are concerned, is what the future holds in store if the Biden-Harris ticket is elected. Just as the Obama administration had a compliant FBI under the direction of Comey, would a Biden administration have a compliant federal police under a President Biden?

      And what would the consequences be to the republic, with no independent watchdog to reign in official corruption, as the reputation, independence, and integrity of the bureau were to continue a downward spiral?

    • Taiwan Must Prepare To Deter Chinese Amphibious Landing: National Security Advisor O'Brien
      Taiwan Must Prepare To Deter Chinese Amphibious Landing: National Security Advisor O'Brien

      Tyler Durden

      Fri, 10/16/2020 – 19:50

      Days after China’s People’s Liberation Army (PLA) conducted large-scale joint amphibious landing drills on the Chinese coast, President Trump’s national security advisor has issued provocative statements Friday while speaking at an Aspen Institute event.

      Robert C. O’Brien, currently Assistant to the President for National Security Affairs, urged Taiwan to pursue strategies for deterring a Chinese amphibious landing.

      “Taiwan needs to start looking at some asymmetric and anti-access area denial strategies” ultimately to deter a land invasion when the time comes, O’Brien stated.

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      The comments from such a high level Trump official reveal that the White House sees Beijing as fast approaching a hostile and war footing concerning the Taiwan issue.

      “China doesn’t have the military strength to take over Taiwan now, but perhaps could 5 years from now,” he added in the provocative comments which certainly won’t go unnoticed in Beijing.

      And further on China, responding to Stephen Hadley, former George W. Bush national security advisor, national security advisor O’Brien said, “I think what the president did with the tariffs is he finally woke up the Chinese…” and argued that the Trump administration has succeeded at “establishing alternate supply lines for rare earths” – though without giving details of precisely how or to what extent this has actually been achieved.  

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      The subject of Taiwan in the course of the remote Aspen Institute discussion began with the following comments of O’Brien:

      “They’re bullying Taiwan, they’ve taken over Hong Kong lock, stock, and barrel… they’ve asserted rights to the South China Sea like it’s Lake Tahoe or something.”

      “I don’t think the Chinese probably at this point want or likely are prepared for an amphibious landing”… they have massive missiles, but if they strike “They’d lose everything they’re hope to gain and become a massive international pariah.”

      The comments are very timely also considering China at the start of this week kicked off massive amphibious landing drills which are meant to send a “message” to Taiwan over what state-run Global Times calls “rampant secessionist moves”.

      It also comes as Washington ramps up military weapons sales to the island, something which has come under repeat Chinese condemnation over violation of the ‘One China’ policy status quo.

    • "This Was A Kangaroo Court": LMU Students Impeach Latina Senator Over Conservative Views
      "This Was A Kangaroo Court": LMU Students Impeach Latina Senator Over Conservative Views

      Tyler Durden

      Fri, 10/16/2020 – 19:30

      Authored by Jonathan Turley,

      Loyola Marymount University student Stephanie Martinez is exactly what schools seek in admissions.

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      She is politically and social active. She has been involved in the school’s governance and community, including serving at the government senator for diversity and inclusion. She is also conservative.

      That last element proved unacceptable recently when fellow students impeached her after a three-hour proceeding because she expressed her opposition to illegal immigration on social media.

      While a few students protested, other students mocked the outcry and the coverage on sites like The College Fix

      One student is quoted on social media as saying “it’s a f***ing seat on a random student government senate. Why are these old white people so upset!?”

      The answer is something that is becoming less and less of a concern on campuses: free speech.

      We have seen other students recently subjected to similar actions by their student governments or by fellow editors on student newspapersFree speech is under attack across the country and polling shows a falling level of support for free speech among students. The actions taken against openly conservative or libertarian students is having its impact on both students and faculty who are self-censoring to avoid similar attacks.

      In this case, the student government is acting to counter Martinez’s views on immigration. In one of the offending postings, Martinez wrote:

      “The same people advocating for rights, equality, and better conditions for illegal aliens are the same one censoring freedom of speech (a right), defaming and initiating hostility for those Americans with divergent views! Sad!” 

      It proved a prophetic and ironic posting for Martinez.

      Fellow Diversity and Inclusion student Senator Camille Orozco cited such statements as the basis for impeachment under Article 8 in the student body bylaws as “conduct that severely damages the integrity or authority of ASLMU or the office held by the individual in question.” Orozco dismissed the obvious crackdown on free speech by declaring conclusorily that it is not about free speech but “conduct which has severely damaged the integrity, or authority of ASLMU or the office held by Senator Martinez.”

      But the “conduct” was the free speech. That is how easy it is to strip away any tolerance for opposing viewpoints. Orozco argued that the views of Martinez hurt the relationship of the student government with immigrant groups.

      The most glaring moment came when Director of Free Speech & Expression Robyn De Leon rose to speak. This is the person who is supposed to protect free speech and expression but spoke in favor of removing someone on the basis of her opposing viewpoints. 

      According to one article, De Leon said that Martinez is not protected for her “very alienating of unrepresented and marginalized communities” and cited her use of the term “illegal alien.”

      Putting aside the obvious hypocrisy in that position, De Leon ignores that federal courts, including the Supreme Court, have used the term “illegal alien.”

      What concerns me most is the apparent silence of the university.  Under the student government’s Constitution, no officer or member will be discriminated against based on their political affiliation. I do not know the specific views of Martinez on politics or immigration.  Indeed, I do not consider her specific viewpoints to be particularly relevant beyond the fact that such viewpoints are being used as the basis for adverse actions. She has a right to speak her mind on social media and a university should celebrate the diversity of such ideas as part of its intellectual mission. Yet, I could find no statement of the university denouncing any action that punishes a student or faculty member for their opposing viewpoints.  I can understand not wanting to interfere with student governance decisions but the university should not be a mere pedestrian to the abuse of a student for her political views. The university would clearly condemn any action if was deemed racist or offensive.  The denial of free speech would be of an equal concern for the university in guaranteeing a tolerant and open academic community.

      Martinez’s next course of action is to appeal the impeachment. If she loses, she will face a removal trial.  That is why the university must be clear as to its commitment to free speech.  Student governments are not an invitation to institute Robespierrean justice.

      The university needs to act to protect those who are being attacked for their dissenting views and to reaffirm the guarantee of free speech at Loyola Marymount University.

    • New Harvard Study Finds "Elevated Radiation" Levels Near Fracking Sites
      New Harvard Study Finds "Elevated Radiation" Levels Near Fracking Sites

      Tyler Durden

      Fri, 10/16/2020 – 19:10

      Fracking has been one of the keys to helping the U.S. achieve its energy independence and become the world’s largest oil and gas producer over the last ten years. But now, it looks like it may be coming with some unintended consequences, according to Reuters

      Researchers have found elevated radiation levels near U.S. hydraulic fracking drilling sites, according to a newly released study by Harvard researchers this week. The study looked at the U.S. Environmental Protection Agency’s radiation monitor readings nationwide from 2011 to 2017.

      The study was published in Nature and found that areas within 12 miles downwind of 100 fracking wells had radiation levels that were about 7% above normal background levels. Readings can go “much higher” as you move closer to drill sites, the study reported. Radioactive particles can be inhaled and “increase the risk of lung cancer,” Reuters noted.

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      Petros Koutrakis, who led the study, said: “The increases are not extremely dangerous, but could raise certain health risks to people living nearby.”

      He also said that further study is needed: “Our hope is that once we understand the source more clearly, there will be engineering methods to control this.”

      He attributes the radiation to “naturally-occurring radioactive material” rising to the surface as a result of the drilling. 

      The study also found that the largest increases occurred in places like Pennsylvania and Ohio, where naturally occurring radioactive material is found in higher concentrations than other states. 

      It’s unclear whether or not this could become an election talking point with less than 3 weeks until the Presidential race. We already know where President Trump stands on fracking. If only Joe Biden and Kamala Harris could remember what, exactly their position is…

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    • Pentagon School To Focus Half Its Curriculum On China, Esper Announces
      Pentagon School To Focus Half Its Curriculum On China, Esper Announces

      Tyler Durden

      Fri, 10/16/2020 – 18:50

      Authored by Dave DeCamp via AntiWar.com,

      Secretary of Defense Mark Esper said on Thursday that he tasked a Pentagon-funded university to focus half of its curriculum on China. The move is a testament to the shift in the US military’s focus from terrorism to so-called “great power competition,” as outlined in the 2018 National Defense Strategy.

      “As part of our top-10 goal to focus the department on China, I directed the National Defense University to refocus its curriculum by dedicating 50 percent of the coursework to China by academic year 2021,” Esper said at an event hosted by the Heritage Foundation.

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      National Defense University (NDU) Faculty at Fort Lesley J. McNair, Washington D.C.

      The National Defense University is a higher-learning facility run by the Pentagon that offers graduate programs mostly to members of the US military. “I also tasked the military services to make the People’s Liberation Army [China’s military] the pacing threat in our professional schools, programs and training,” the Pentagon chief said.

      Esper also warned of the threat China and Russia pose to US global hegemony. “Our strategic competitors China and Russia are attempting to erode our hard-earned gains,” he said.

      The former Raytheon lobbyist also touted a new plan to increase the fleet of the US Navy that Esper has dubbed “Battle Force 2045.” The plan calls for the Navy to have a 500 ship fleet by 2045. Currently, the US Navy has just under 300 battle-ready ships.

      The Pentagon released its annual report on China’s military in September. The report says China has the world’s largest navy and has “an overall battle force of approximately 350 ships and submarines.”

      Despite having more ships, China’s navy is vastly smaller than Washington’s in terms of tonnage. One example of this is the number of aircraft carriers each nation has, with the US having eleven aircraft carriers, while China only has two.

    • Daily Briefing – October 16, 2020
      Daily Briefing – October 16, 2020


      Tyler Durden

      Fri, 10/16/2020 – 18:40

      Senior editor, Ash Bennington, and managing editor, Ed Harrison, look forward to the relevant themes. Ed adds to David Rosenberg’’ recent comments that “organically, the economy is still in recession,” and he and Ash reflect on the recent success of Sweden’s pandemic shutdown response. They then put a week of bank earnings into context and analyze Warren Buffett selling the bulk of Berkshire Hathaway’s holdings in Wells Fargo. In the intro, Ash speaks to Real Vision editor, Jack Farley, about “priming” in the markets for distressed debt. For reference, the video Ed discusses at the beginning can be found here: https://exchange.realvision.com/post/the-breakdown-what-all-financial-c….

    • Mexico's Former Defense Minister Arrested On Drug Trafficking Charges By DEA
      Mexico's Former Defense Minister Arrested On Drug Trafficking Charges By DEA

      Tyler Durden

      Fri, 10/16/2020 – 18:30

      As a sign of just how the continuing US-Mexico “war on drugs” and by extension the war on cartels is going, no less than Mexico’s former top leader of the armed forces has been arrested.

      The country’s former defense minister, Gen. Salvador Cienfuegos, was taken into US custody after landing at Los Angeles International Airport on Thursday. The US Drug Enforcement Administration (DEA) had a warrant for his arrest – no doubt a huge shock to the high profile general given he was traveling with his family, presumably on vacation.

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      Gen. Salvador Cienfuegos Zepeda, via NYT

      Mexico’s foreign secretary, Marcelo Ebrard, was the first to confirm via Twitter that the American ambassador to Mexico informed him of Cienfuegos’ detention.

      The charges are related to corruption and drug trafficking ties, including large-scale cocaine, heroin, and methamphetamine distribution and conspiracy, as well as conspiracy to launder the narcotics proceeds through illicit banking transactions, according to the just released indictment.

      The charges were initially confirmed in statements by Mexico’s president on Friday

      The arrest of Mexico’s former defense minister by U.S. authorities shows that corruption is Mexico’s biggest problem, Mexican President Andrés Manuel López Obrador said on Friday.

      “I always said that it wasn’t just a crisis, but a decadence that we were suffering from,” President López Obrador said in a press briefing. “It’s regrettable that a former defense minister is detained, accused of ties to drug trafficking.”

      The 72-year old general was defense minister under former President Enrique Peña Nieto from 2012 to 2018.

      The US embassy notified Mexico’s Ministry of Foreign Affairs of the high profile detention at LAX:

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      Mexico’s current president has controversially been a critic of longtime public calls to use the military to combat organized crime groups. Cynics might say it’s because he knew precisely the levels of corruption within top military ranks, and lack of accountability especially at the top of the command structure, as this latest DEA arrest demonstrates.

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      Gen. Cienfuegos is by far the highest ranking Mexican military official ever arrested on drug-related corruption charges.

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      Via AP/NPR: Former Mexican Defense Secretary Gen. Salvador Cienfuegos, right, with former U.S. Defense Secretary Jim Mattis at the Pentagon in 2017.

      WSJ notes meanwhile that “In the late 1990s, another senior army leader, anti-drug czar Gen. Jesús Gutiérrez Rebollo, was arrested and sentenced to 40 years in jail for taking bribes from drug cartels. He died in 2013 in prison.”

      Should Gen. Cienfuegos eventually be tried, convicted and sentenced here in the US, it is likely he’ll serve out any potential prison time here rather than be returned to Mexico.

    • In Stunning Reversal, Twitter No Longer Blocking NY Post Biden Article
      In Stunning Reversal, Twitter No Longer Blocking NY Post Biden Article

      Tyler Durden

      Fri, 10/16/2020 – 18:22

      In a spectacular, and humiliating, reversal for Twitter which two days ago sparked an unprecedented scandal with its blatant pro-Democrat censorship and dissemination ban of the “bombshell” NY Post article confirming Joe Biden’s connections to both Ukraine and China, Twitter said it would no longer block the NY Post story about Hunter Biden.

      After the NYT first reported late on Friday that Twitter “began letting users share links to an unsubstantiated New York Post article about Hunter Biden that it had previously blocked from its service”, a spokesperson for the online publisher which wishes to retain its Section 230 protections to avoid being sued into oblivion overnight, confirmed to The Hill that users can now share links to the article in tweets and direct messages because “the once private information included is now widely available in the press and on other digital platforms.”

      The decision caps a three-day whirlwind for the company, which definitively exposed to the entire world the political bias of both Twitter and Youtbe.

      After initially blocking users – and in countless cases suspending and banning accounts, even those belonging to administration officials – a smattering of GOP lawmakers sent letters to Twitter and Facebook demanding and explanation; Sen. Ted Cruz said earlier that he would be happy to subpoena Mark Zuckerberg over what Cruz described as “transparent election interference” by America’s largest social media titans. Late on Friday, the Senate Commerce Committee issued subpoenas for Facebook CEO Mark Zuckerberg, Sundar Pichai of Google, and Jack Dorsey to appear virtually on Oct. 28 to discuss the reformation of Section 230 of the Communications Decency Act, which protects them from liability.

      Earlier in the week, Jack Dorsey offered a non-apology apology by saying he regretted the breakdown in communication as Twitter moved to suppress the story and punish those sharing it without offering any kind of explanation. This was followed on Thursday night by a statement from the company’s top legal and policy executive, Vijaya Gadde, who said that Twitter will no longer remove hacked content unless the content has been “directly shared by hackers or those acting in concert with them.” And said the company will “label Tweets to provide context instead of blocking links from being shared on Twitter.”

      Then on Friday morning, the CEO returned with another more thorough apology, where he acknowledged that the company was “wrong” to ‘straight up block the url’ or urls associated with the sensitive NY Post stories.

      https://platform.twitter.com/widgets.js

      And now, after unleashing an unprecedented censorship scandal by the social networks, Twitter has made a 180 and effectively admits that everything it did was wrong.

      Even the Joe Biden-endorsing NY Times wrote that “the rapid-fire changes have made Twitter and Facebook the butt of jokes and invigorated efforts to regulate them.”

      “Policies are a guide for action, but the platforms are not standing behind their policies,” said Joan Donovan, research director of the Shorenstein Center on Media, Politics and Public Policy at Harvard’s Kennedy School. “They are merely reacting to public pressure and therefore will be susceptible to politician influence for some time to come.”

      The irony, of course, is that thanks to Twitter’s catastrophic bumbling of “Huntergate“, everyone in the US now knows about Hunter Biden’s notebook and by implication, Joe Biden’s heretofore covert involvement. And while one would think that someone as sophisticated in manipulating and shaping public opinion as Jack Dorsey and Mark Zuckerberg would know all about the Streisand Effect, one would be wrong.

    • Federal Court Rebukes D.C. Mayor's Double-Standard On Church Services And BLM Protests
      Federal Court Rebukes D.C. Mayor's Double-Standard On Church Services And BLM Protests

      Tyler Durden

      Fri, 10/16/2020 – 18:10

      Authored by Tyler O’Neil via PJMedia.com,

      Last week, the District Court for the District of Columbia ruled that Capitol Hill Baptist Church (CHBC) can resume outdoor services despite Washington, D.C., Mayor Muriel Bowser’s coronavirus restrictions.

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      In his ruling, Judge Trevor McFadden implicitly rebuked Bowser for encouraging one type of gathering — Black Lives Matter protests — while cracking down on religious gatherings.

      “No matter how the protests were organized and planned, the District’s (and in particular, Mayor Bowser’s) support for at least some mass gatherings undermines its contention that it has a compelling interest in capping the number of attendees at the Church’s outdoor services,” McFadden wrote.

      Bowser’s COVID-19 restrictions prohibit church services with more than 100 people (originally they only allowed services with 10 people or fewer).CHBC, an 853-member church in D.C., requested permission to meet at the 45,000-plus-seat Robert F. Kennedy Stadium, which would give them ample room to social distance, but the city refused the church’s request. On September 22, CHBC filed a lawsuit and requested a temporary restraining order preventing Bowser from penalizing them for gathering.

      CHBC cited the First Amendment and the Religious Freedom Restoration Act, which requires the government to meet strict scrutiny when abridging religious liberty. This means the government must prove that it has a compelling state interest and that its restrictions are the “least restrictive means” of meeting that interest.

      The judge ruled that CHBC is likely to prevail in its lawsuit since Bowser’s double standard on the protests undercuts her claim to have a compelling state interest to prevent gatherings to slow the spread of the coronavirus pandemic.

      “Consider the District’s response to mass protests over the past year, which included thousands of citizens marching through the streets of the city, including along streets that the District closed specifically for that purpose,” McFadden noted.

      And the Mayor appeared at one of the mass gatherings, ‘welcom[ing]’ hundreds if not thousands of protestors tightly packed into Black Lives Matter Plaza and announcing that it was ‘so wonderful to see everybody peacefully protesting, wearing [their] mask[s].’”

      The judge also noted that Bowser “christened ‘Black Lives Matter Plaza’ when ‘she directed the D.C. Department of Public Works to create a mural on 16th Street N.W., near the White House, to ‘honor the peaceful protesters from June 1, 2020 and send a message that District streets are a safe space for peaceful protestors.””

      Indeed, Bowser directed staff to paint “Black Lives Matter” on the road across from the White House in an act of state-sanctioned graffiti.

      “The Mayor’s apparent encouragement of these protests also implies that the District favors some gatherings (protests) over others (religious services),” McFadden argued.

      “When faced with similar facts in a First Amendment challenge, another court explained that high-profile government officials encouraging and participating in protests ‘sent a clear message that mass protests are deserving of preferential treatment,’” the judge added, citing Soos v. Cuomo (2020).

      In that case, the court noted that Governor Andrew Cuomo (D-N.Y.) and New York City Mayor Bill de Blasio “could have ‘been silent’ or ‘could have just as easily discouraged protests, short of condemning their message, in the name of public health,’” but they did not take either of these courses.

      “The District attempts to distinguish the risks posed by mass ‘protest marches’ from those posed by ‘worship services in which individuals stand in place for long periods of time,’ … but it marshaled no scientific evidence on this point,” McFadden argued. “In fact, the District’s brief explains that the protests did not trigger any spike in COVID-19 ‘outbreaks,’ undermining the notion that large gatherings are always exceptionally dangerous.”

      “With this ruling, our government is restoring equity by extending to religious gatherings the same protections that have been afforded other similar gatherings during this pandemic,” Justin Sok, a pastor at CHBC, said in a statement. “We trust that this will be a blessing not only to our congregation but to the rest of our neighbors in D.C.”

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      “A church is not a building that can be opened or closed. A church is not an event to be watched. A church is a community that gathers regularly and we are thankful that such communities are once again being treated fairly by our government,” he added.

      Earlier this month, the Department of Justice filed a statement of interest supporting CHBC.

      “Although the precise legal tests may change based on the specific restriction at issue, the bottom line remains the same: there is no pandemic exception to the Constitution and our fundamental rights,” the DOJ lawyers declared [Emphasis added].

      “Individual rights set forth in the Constitution are always operative and restrain government action.”

    Digest powered by RSS Digest

    Today’s News 16th October 2020

    • UK College Orders Students To Wait In Room, 'Let Others Out First' If Fire Breaks Out
      UK College Orders Students To Wait In Room, ‘Let Others Out First’ If Fire Breaks Out

      Tyler Durden

      Fri, 10/16/2020 – 02:45

      Self-isolating students at the University of York, located in the city of York, England, have been instructed by school officials to wait at least one minute in their rooms in the event of a fire and let others out first, reported BBC

      York University’s guidance is absolutely insane, which reads: If you are self-isolating and the fire system in your accommodation building is activated, please follow these procedures to ensure your safety:” 

      “When the alarm sounds; stay in your room for one minute then make your way to the nearest refuge (this will allow non-isolating individuals to exit the building).”

      York University’s New Guidance:

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      The new guidance comes as 288 students at the university have tested positive for coronavirus. The surge in virus cases prompted the university to “updated and changed” its policies. 

      The instructions were distributed to students via email. It said the “additional guidance” had been developed to “maintain social-distancing from non-isolating residents.”

      Blue checkmark Twitter user Stephen Canning tweeted:

      “The University of York’s fire alarm advice – that those self-isolating wait a bit before leaving a potentially burning building – surely can’t be safety compliant?” 

      York University’s official Twitter account responded to Canning’s tweet by saying:

      “Hi Stephen, this was reviewed earlier this week, and new guidance will be issued today. In the event of a fire alarm, all students should evacuate as normal. Where possible, they should wear a mask and keep a safe distance from others.” 

      Canning responded:

      “It’s good to hear new guidance is coming, but I think it’s fair to be shocked that you ever advised students to stay put during a fire!” 

      Some Twitter users said whoever on the campusdevised that policy should be sacked!” 

      Another Twitter user said: “That is shocking that you would put students lives at risk – whoever wrote that should be prosecuted.” 

      Here are some of the Twitter comments that responded to York University’s absurd new fire policy: 

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      As for the hundreds of self-isolating students at York University – well – in the event of a fire, they must allow all healthy people to evacuate a burning building first before they can exit. 

    • Nearly 4,000 Syrian & Libyan Militants Are Fighting With Azerbaijan: Armenian Official
      Nearly 4,000 Syrian & Libyan Militants Are Fighting With Azerbaijan: Armenian Official

      Tyler Durden

      Fri, 10/16/2020 – 02:00

      Via AlMasdarNews.com,

      An Armenian diplomat said that about 4,000 militants loyal to Turkey from Hay’at Tahrir Al-Sham (formerly Jabhat Al-Nusra, or al-Qaeda in Syria) and the Sultan Murad Brigade arrived in Karabakh from Libya and Syria to fight alongside the Azerbaijani forces.

      The former Armenian ambassador to Italy, Sarkis Gazaryan, made the public statements while present with 100 people at the sit-in organized by the Armenian community in front of the House of Representatives’ headquarters in Rome to demand an end to the “Turkish-Azerbaijani aggression”.

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      Turkish-backed Syrian militants, via Reuters

      “The presence of these anti-Armenian jihadists is dangerous, and even more so if we take into account what the UN Secretary-General called for to stop the fighting to prevent the Covid epidemic,” the former Armenian ambassador confirmed in statements to the Italian AKI news agency.

      He asked, “Where is the credibility of the policies of some European countries?”

      Turkey has been accused of recruiting Syrian militants to fight against the Armenian forces in Karabakh, following their campaign in Libya.

      In rare confirmation, The Wall Street Journal reported this week that “Hundreds of fighters from Syrian militias allied with Turkey have joined the fighting between Azerbaijan and Armenia over the disputed enclave of Nagorno-Karabakh, and hundreds more are preparing to go, according to two Syrians involved in the effort.”

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      The reported cited “A Syrian rebel involved in deployments said fighters had been traveling there since mid-September—before the latest round of clashes—in groups of up to 100 at a time.” 

      The fighting has been so fierce that Syrian militants have already begun returning home after being shocked at the battle’s intensity: “Another Syrian with ties to the rebel groups also estimated hundreds had gone. Dozens have also returned, alarmed by the fierce fighting, that person said,” according to the WSJ.

    • The 2020 Election Bamboozle: We Are All Victims Of The Deep State's Con Game
      The 2020 Election Bamboozle: We Are All Victims Of The Deep State’s Con Game

      Tyler Durden

      Thu, 10/15/2020 – 23:40

      Authored by John Whitehead via The Rutherford Institute,

      “We’re run by the Pentagon, we’re run by Madison Avenue, we’re run by television, and as long as we accept those things and don’t revolt we’ll have to go along with the stream to the eventual avalanche… As long as we go out and buy stuff, we’re at their mercy… We all live in a little Village. Your Village may be different from other people’s Villages, but we are all prisoners.

      – Patrick McGoohan

      This is not an election.

      This is a con game, a scam, a grift, a hustle, a bunko, a swindle, a flimflam, a gaffle, and a bamboozle.

      In this carefully choreographed scheme to strip the American citizenry of our power and our rights, “we the people” are nothing more than marks, suckers, stooges, mugs, rubes, or gulls.

      We are victims of the Deep State’s confidence game.

      Every confidence game has six essential stages:

      1) the foundation to lay the groundwork for the illusion;

      2) the approach whereby the victim is contacted;

      3) the build-up to make the victim feel like they’ve got a vested interest in the outcome;

      4) the corroboration (aided by third-party conspirators) to legitimize that the scammers are, in fact, on the up-and-up;

      5) the pay-off, in which the victim gets to experience some small early “wins”; and

      6) the “hurrah”— a sudden manufactured crisis or change of events that creates a sense of urgency.  

      In this particular con game, every candidate dangled before us as some form of political savior—including Donald Trump and Joe Biden—is part of a long-running, elaborate scam intended to persuade us that, despite all appearances to the contrary, we live in a constitutional republic.

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      In this way, the voters are the dupes, the candidates are the shills, and as usual, it’s the Deep State rigging the outcome.

      Terrorist attacks, pandemics, civil unrest: these are all manipulated crises that add to the sense of urgency and help us feel invested in the outcome of the various elections, but it doesn’t change much in the long term.

      No matter who wins this election, we’ll all still be prisoners of the Deep State.

      We just haven’t learned to recognize our prison walls as such.

      It’s like that old British television series The Prisoner, which takes place in a mysterious, self-contained, cosmopolitan, seemingly idyllic retirement community known only as The Village.

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      Perhaps the best visual debate ever on individuality and freedom, The Prisoner (17 episodes in all) centers around a British secret agent who abruptly resigns only to find himself imprisoned, monitored by militarized drones, and interrogated in The Village, a beautiful resort with parks and green fields, recreational activities and even a butler.

      While luxurious, the Village is a virtual prison disguised as a seaside paradise: its inhabitants have no true freedom, they cannot leave the Village, they are under constant surveillance, all of their movements tracked. Residents of the Village are stripped of their individuality and identified only by numbers.

      First broadcast in Great Britain 50-some years ago, The Prisoner dystopian television series —described as “James Bond meets George Orwell filtered through Franz Kafka”—confronted societal themes that are still relevant today: the rise of a police state, the loss of freedom, round-the-clock surveillance, the corruption of government, totalitarianism, weaponization, group think, mass marketing, and the tendency of human beings to meekly accept their lot in life as prisoners in a prison of their own making.

      The series’ protagonist, played by Patrick McGoohan is Number Six.

      Number Two, the Village administrator, acts as an agent for the unseen and all-powerful Number One, whose identity is not revealed until the final episode.

      “I am not a number. I am a free man,” was the mantra chanted on each episode of The Prisoner, which was largely written and directed by Patrick McGoohan, who also played the title role.

      In the opening episode (“The Arrival”), Number Six meets Number Two, who explains to him that he is in The Village because information stored “inside” his head has made him too valuable to be allowed to roam free “outside.”

      Throughout the series, Number Six is subjected to interrogation tactics, torture, hallucinogenic drugs, identity theft, mind control, dream manipulation, and various forms of social indoctrination and physical coercion in order to “persuade” him to comply, give up, give in and subjugate himself to the will of the powers-that-be.

      Number Six refuses to comply.

      In every episode, Number Six resists the Village’s indoctrination methods, struggles to maintain his own identity, and attempts to escape his captors.

      “I will not make any deals with you,” he pointedly remarks to Number Two.

      “I’ve resigned. I will not be pushed, filed, stamped, indexed, debriefed or numbered. My life is my own.”

      Yet no matter how far Number Six manages to get in his efforts to escape, it’s never far enough.

      Watched by surveillance cameras and other devices, Number Six’s attempts to escape are continuously thwarted by ominous white balloon-like spheres known as “rovers.” Still, he refuses to give up.

      “Unlike me,” he says to his fellow prisoners, “many of you have accepted the situation of your imprisonment, and will die here like rotten cabbages.”

      Number Six’s escapes become a surreal exercise in futility, each episode an unfunny, unsettling Groundhog’s Day that builds to the same frustrating denouement: there is no escape.

      As journalist Scott Thill concludes for Wired, “Rebellion always comes at a price. During the acclaimed run of The Prisoner, Number Six is tortured, battered and even body-snatched: In the episode ‘Do Not Forsake Me Oh My Darling,’ his mind is transplanted to another man’s body. Number Six repeatedly escapes The Village only to be returned to it in the end, trapped like an animal, overcome by a restless energy he cannot expend, and betrayed by nearly everyone around him.”

      The series is a chilling lesson about how difficult it is to gain one’s freedom in a society in which prison walls are disguised within the seemingly benevolent trappings of technological and scientific progress, national security and the need to guard against terrorists, pandemics, civil unrest, etc.

      As Thill noted, “The Prisoner was an allegory of the individual, aiming to find peace and freedom in a dystopia masquerading as a utopia.”

      The Prisoner’s Village is also an apt allegory for the American Police State: it gives the illusion of freedom while functioning all the while like a prison: controlled, watchful, inflexible, punitive, deadly and inescapable.

      The American Police State, much like The Prisoner’s Village, is a metaphorical panopticon, a circular prison in which the inmates are monitored by a single watchman situated in a central tower. Because the inmates cannot see the watchman, they are unable to tell whether or not they are being watched at any given time and must proceed under the assumption that they are always being watched.

      Eighteenth century social theorist Jeremy Bentham envisioned the panopticon prison to be a cheaper and more effective means of “obtaining power of mind over mind, in a quantity hitherto without example.”

      Bentham’s panopticon, in which the prisoners are used as a source of cheap, menial labor, has become a model for the modern surveillance state in which the populace is constantly being watched, controlled and managed by the powers-that-be while funding its existence.

      Nowhere to run and nowhere to hide: this is the new mantra of the architects of the Deep State and their corporate collaborators (Facebook, Amazon, Netflix, Google, Instagram, etc.).

      Government eyes are watching you.

      They see your every move: what you read, how much you spend, where you go, with whom you interact, when you wake up in the morning, what you’re watching on television and reading on the internet.

      Every move you make is being monitored, mined for data, crunched, and tabulated in order to amass a profile of who you are, what makes you tick, and how best to control you when and if it becomes necessary to bring you in line.

      When the government sees all and knows all and has an abundance of laws to render even the most seemingly upstanding citizen a criminal and lawbreaker, then the old adage that you’ve got nothing to worry about if you’ve got nothing to hide no longer applies.

      Apart from the obvious dangers posed by a government that feels justified and empowered to spy on its people and use its ever-expanding arsenal of weapons and technology to monitor and control them, we’re approaching a time in which we will be forced to choose between obeying the dictates of the government—i.e., the law, or whatever a government official deems the law to be—and maintaining our individuality, integrity and independence.

      When people talk about privacy, they mistakenly assume it protects only that which is hidden behind a wall or under one’s clothing. The courts have fostered this misunderstanding with their constantly shifting delineation of what constitutes an “expectation of privacy.” And technology has furthered muddied the waters.

      However, privacy is so much more than what you do or say behind locked doors. It is a way of living one’s life firm in the belief that you are the master of your life, and barring any immediate danger to another person (which is far different from the carefully crafted threats to national security the government uses to justify its actions), it’s no one’s business what you read, what you say, where you go, whom you spend your time with, and how you spend your money.

      Unfortunately, George Orwell’s 1984—where “you had to live—did live, from habit that became instinct—in the assumption that every sound you made was overheard, and, except in darkness, every movement scrutinized”—has now become our reality.

      We now find ourselves in the unenviable position of being monitored, managed, corralled and controlled by technologies that answer to government and corporate rulers.

      Consider that on any given day, the average American going about his daily business will be monitored, surveilled, spied on and tracked in more than 20 different ways, by both government and corporate eyes and ears.

      A byproduct of this new age in which we live, whether you’re walking through a store, driving your car, checking email, or talking to friends and family on the phone, you can be sure that some government agency, whether the NSA or some other entity, is listening in and tracking your behavior.

      This doesn’t even begin to touch on the corporate trackers that monitor your purchases, web browsing, Facebook posts and other activities taking place in the cyber sphere.

      Stingray devices mounted on police cars to warrantlessly track cell phones, Doppler radar devices that can detect human breathing and movement within in a home, license plate readers that can record up to 1800 license plates per minutesidewalk and “public space” cameras coupled with facial recognition and behavior-sensing technology that lay the groundwork for police “pre-crime” programspolice body cameras that turn police officers into roving surveillance cameras, the internet of things: all of these technologies (and more) add up to a society in which there’s little room for indiscretions, imperfections, or acts of independence—especially not when the government can listen in on your phone calls, read your emails, monitor your driving habits, track your movements, scrutinize your purchases and peer through the walls of your home.

      As French philosopher Michel Foucault concluded in his 1975 book Discipline and Punish, “Visibility is a trap.”

      This is the electronic concentration camp—the panopticon prison—the Village—in which we are now caged.

      It is a prison from which there will be no escape. Certainly not if the government and its corporate allies have anything to say about it.

      As Glenn Greenwald notes:

      “The way things are supposed to work is that we’re supposed to know virtually everything about what [government officials] do: that’s why they’re called public servants. They’re supposed to know virtually nothing about what we do: that’s why we’re called private individuals. This dynamic – the hallmark of a healthy and free society – has been radically reversed. Now, they know everything about what we do, and are constantly building systems to know more. Meanwhile, we know less and less about what they do, as they build walls of secrecy behind which they function. That’s the imbalance that needs to come to an end. No democracy can be healthy and functional if the most consequential acts of those who wield political power are completely unknown to those to whom they are supposed to be accountable.”

      None of this will change, no matter who wins this upcoming presidential election.

      And that’s the hustle, you see: because despite all of the work being done to help us buy into the fantasy that things will change if we just elect the right candidate, the day after a new president is sworn in, we’ll still find ourselves prisoners of the Village.

      This should come as no surprise to those who haven’t been taking the escapist blue pill, who haven’t fallen for the Deep State’s phony rhetoric, who haven’t been lured in by the promise of a political savior: we never stopped being prisoners.

      So how do you escape? For starters, resist the urge to conform to a group mind and the tyranny of mob-think as controlled by the Deep State.

      Think for yourself. Be an individual. As McGoohan commented in 1968, “At this moment individuals are being drained of their personalities and being brainwashed into slaves… As long as people feel something, that’s the great thing. It’s when they are walking around not thinking and not feeling, that’s tough. When you get a mob like that, you can turn them into the sort of gang that Hitler had.”

      You want to be free? Remove the blindfold that blinds you to the Deep State’s con game, stop doping yourself with government propaganda, and break free of the political chokehold that has got you marching in lockstep with tyrants and dictators.

      As I make clear in my book Battlefield America: The War on the American People, until you come to terms with the fact that the government is the problem (no matter which party dominates), you’ll never be free.

    • Air Force Boasts New Hypersonic Missile Will Hit 1,000 Mile Target In Under 12 Minutes 
      Air Force Boasts New Hypersonic Missile Will Hit 1,000 Mile Target In Under 12 Minutes 

      Tyler Durden

      Thu, 10/15/2020 – 23:20

      The US Air Force is moving forward with a new hypersonic missile that it says can strike a target 1,000 miles away in under 12 minutes, reported Air Force Magazine (AFM). 

      Such a bold claim would mean the hypersonic missile would need to fly between 5,000 and 6,000 mph, or roughly between Mach 6.5 and Mach 8, to strike a target at that distance. 

      Air Force Major General Andrew Gebara, Air Force Global Strike Command’s Director of Strategic Plans, Programs, and Requirements, recently told AFM that Lockheed Martin’s AGM-183A air-launched rapid-response weapon, also known as ARRW, is “amazing.” 

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      Readers may recall, our coverage on ARRW’s progression from development to testing suggests it could soon become the US’ first operational hypersonic weapon:  

      “This thing is going to be able to go, in 10-12 minutes, almost 1,000 miles,” Gebara said in a September AFM interview. “It’s amazing.”

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      The hypersonic missile is powered by a solid-fuel rocket booster with an unpowered boost-glide vehicle. The rocket propels the hypersonic missile to hypersonic speeds. After that, the glide vehicle is released and continues to its target. The boost-glide vehicle can carry nuclear warheads and outmaneuver the world’s most advanced missile defense shields. 

      ARRW is expected to reach operational capability in the second half of 2022, with possible fielding shortly after. The Air Force plans to purchase at least eight prototype ARRWs. 

      We’re not sure if President Trump referred to Lockheed’s ARRW in July, but he touted a new hypersonic weapon as “super-duper.” 

      The US has been increasing its efforts on hypersonic development in recent years as Russia and China power ahead in their developments.

    • The FBI, Militias, Truth, And Comey's Legacy
      The FBI, Militias, Truth, And Comey’s Legacy

      Tyler Durden

      Thu, 10/15/2020 – 23:00

      Authored by Chris Farrell via The Gatestone Institute,

      In the past few days, news reports have alerted us to an FBI claim that a militia group was planning to kidnap the governor of Michigan. The Detroit Free Press wrote:

      “Thirteen members of an anti-government group bent on igniting a civil war are charged in a plot to kidnap Gov. Gretchen Whitmer, who the group targeted in a possible commando raid on the state capitol, according to newly unsealed court records.

      “Authorities said Thursday that the Wolverine Watchmen group planned on storming either the capitol or Whitmer’s vacation home as part of a broader mission to instigate a civil war.”

      Half of the country does not believe the FBI. Is it possible that the militia story is another contrived, anti-Trump, smear job by elements within the FBI? If the FBI headquarters can run a coup against the president, can Michigan FBI agents phony-up some charges against fringe characters with sketchy criminal information?

      It would not be the first time. Back on March 29, 2010, the Department of Justice announced the following:

      “Michigan residents, along with two residents of Ohio and a resident of Indiana, were indicted by a federal grand jury in Detroit on charges of seditious conspiracy, attempted use of weapons of mass destruction, teaching the use of explosive materials, and possessing a firearm during a crime of violence, Attorney General Eric Holder, U.S. Attorney for the Eastern District of Michigan Barbara L. McQuade and FBI Special Agent in Charge Andrew Arena announced today.”

      The 2010 Michigan militia group called themselves the “Hutarees.” The case did not end well for the FBI. Charges were dropped. Others from the Hutarees faced lesser charges. Some of the Hutarees ended up suing the government over the investigation and prosecution. It seems the FBI went too far on too little.

      “Militia” is a news media certified code-word for Trump-supporter. FBI-doubters know the bureau launched a sophisticated operation against the Trump campaign, Trump transition, and finally the Trump administration. Even the New York Times admits it. It was a soft coup. The entire criminal conspiracy is being documented now in movies.

      The FBI’s reputation has been destroyed through blatant politicization. Here are the corrupt political police: Comey, McCabe, Strzok, Page, Clinesmith, Pientka, Brower, Baker, et al. That is a collection of various dirty cops, oath-breakers, coup-plotters, and persons “lacking candor” in FBI parlance. Those are just some of the FBI “headliners” — no Justice Department names on that list.

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      Current FBI Director Christopher Wray hardly engenders confidence as a strong leader bent on cleaning house and reforming a corrupt agency that attempted a soft coup against the presidency. Wray is all about damage control and institutional preservation. When it comes to honesty, Wray does not have a tough act to follow. That is why he is comfortable making the demonstrably false claim that Antifa is more of an ideology than a group.

      Now we are dealing with reports of the “Wolverine Watchmen.” Here is the interesting part of one of the news reports where we should pay close attention. (It is also the operational part of the FBI’s activities wherein things have a tendency to legally fall apart):

      “Members of the group bought weapons, conducted surveillance and held training and planning meetings, but they were foiled in part because the FBI infiltrated the group with informants, according to a criminal complaint. Six were charged with federal kidnapping offenses, and at least seven others face state charges.” [Emphasis added]

      Also pay attention to this excerpt from the news report:

      “The FBI used confidential informants as part of the investigation and has paid one of them more than $14,000 and paid $8,600 to another, according to the affidavit.”

      While the anti-Trump media codeword “militia” is used to describe the alleged plotters — video evidence from Twitter and YouTube reveals that one of the leaders is an anarchist, certainly not a “right wing Trumpster.”

      https://platform.twitter.com/widgets.js

      Likewise, more questions are raised about the plotters, their affiliations, and motives with this news report:

      “One of alleged plotters, 23-year-old Daniel Harris, attended a Black Lives Matter protest in June, telling the Oakland County Times he was upset about the killing of George Floyd and police violence.”

      Perhaps the FBI’s case is 100% true? Perhaps the kidnapping story is legitimate? Perhaps this is not a piece of agitation propaganda? Would a governor cooperate or be complicit in the phony smear? Would the news media blow the anti-Trump dog whistle and blame the president for a kidnapping that never actually happened?

      Of course, the presumption of innocence is foundational to our system of justice. Comey’s living legacy, and the permanent institutional stain on the FBI more generally, is that we cannot take the Bureau’s claims as truthful. We used to give due credence to sworn Special Agents of the FBI. No more.

    • As Manhattan Commercial Real Estate Slumps, Big Tech Sees Golden Opportunity
      As Manhattan Commercial Real Estate Slumps, Big Tech Sees Golden Opportunity

      Tyler Durden

      Thu, 10/15/2020 – 22:40

      The COVID-19 pandemic has seen hundreds of thousands of white-collar Manhattanites engage in working from home – one that appears to be a permanent trend, and something many could’ve not predicted earlier this year. Days ago, Microsoft allowed some of its employees to work remotely on a “permanent” basis, setting a precedent for other technology companies to follow.

      However, four technology companies – Amazon, Apple, Facebook, and Google – who have told employees to work remotely until the first half of 2021, are also acquiring office space in Manhattan as the commercial real estate market sags

      NYT reports these four tech companies “are all significantly expanding their footprint in the city, giving it a badly needed vote of confidence.” This is happening as new coronavirus cases in the US are nearing 60,000 again, driven by infections in the Midwest and other areas of the country – and many office workers in Manhattan have yet to be called back to their workstations. 

      After Amazon abandoned plans for a new headquarters in Queens, the e-commerce giant has acquired nearly 2 million square feet of office space for corporate employees in the city, along with warehouse space in Staten Island, Queens, and the Bronx.

      In March, just weeks after nationwide lockdowns, Amazon purchased the Lord & Taylor building for around 1 billion dollars, enough space to hold 2,000 employees. In total, the company has eight office properties scattered across the city, with many situated in Midtown. 

      Here are the areas where Amazon, Apple, Facebook, and Google have recently bought or leased commercial space in NYC. 

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      h/t NYT

      Big tech is making a risky bet on NYC commercial estate amid the virus-induced downturn that has crushed the city’s local economy. Many offices across Manhattan are deserted and likely not to return workers until sometime in 2021. Commercial real estate firm CBRE, who manages roughly 20 million square feet in the city, said approximately 12% of office workers in Manhattan had returned back to work. 

      As some say, “strike while the iron is hot” – and that is precisely what big tech companies are doing – they’re acquiring some of the highest quality office spaces on the market for a fraction of the price. As we noted in August, top property owners in the city are begging companies to return their employees to work because remote working has stalled the recovery. 

      NYT points out, while NYC commercial real estate sours, “Apple, Amazon, and Facebook have gobbled up more than 1.6 million square feet of office space since the start of the year, most of which was leased or bought during the pandemic. Before the pandemic, Google added about 1.7 million square feet of office space as part of a corporate campus rising along the Hudson River in Manhattan.”

      This year alone, the four big tech companies have hired 2,600 employees in the city, bringing their total to 22,000. Facebook has added 1,100 workers, with nearly a 4,000 workforce in the town. 

      All of this new office space added this year supports more than 15,000 new employees that could be added over the next couple of years.  

      “The big takeaway here is that New York will always be a tech hub,” said William Floyd, director of external affairs for Google’s New York offices, which has about 9,000 workers, more than half of whom are engineers.

      For big tech executives, their expansion into NYC is happening at the city’s darkest periods for commercial real estate. 

    • Pepe Escobar: POTUS Punk Vs. Dem Dementia
      Pepe Escobar: POTUS Punk Vs. Dem Dementia

      Tyler Durden

      Thu, 10/15/2020 – 22:20

      Authored by Pepe Escobar via The Epoch Times,

      The whole planet is enthralled, appalled, shocked and awed by the spectacle of democracy as enacted under the shadow of messianic imperialism – complete with a slew of slimy, smoking gun October Surprises.

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      We’re in total Frank Underwood territory. And as befits the ultimate “society of the simulacrum” pictured by Baudrillard back in the swingin’ 1980s, all those similarities with a Wrestlemania spectacular are obviously not mere coincidence.

      Let’s start with the polls.

      All manner of polls are circulating like whirling dervishes. Most highlight myriad Dem paths to victory and an inexorable Highway to Hell for Trump. A poll by The Economist gives Joe “Walking Dead” Biden a whopping 91% chance – remember Hillary in 2016? – of winning the Electoral College.

      A Dem-fueled consensus is emerging that Trump – relentlessly depicted as a deranged, lunatic proto-fascist who’s bad for business worldwide – will dispute results in any Republican-led state which he may narrowly lose, as in Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin.

      Yet on the campaign trail, it’s a completely different story. Evidence shows that on The Walking Dead’s rallies, there are more people from the Biden bus and reporters than flesh-and-blood Dem voters. The Biden-Harris campaign, demonstrating its matchless P.R. skills, spins these rallies as campaign secrets.

      Team Trump’s long-shot strategy seems to have been unveiled by the President himself: “We are going to be counting ballots for the next two years (…) We have the advantage if we go back to Congress. I think it’s 26 to 22 or something because it’s counted one vote per state.”

      That was a reference to the 12th Amendment to the Constitution: if state electors can’t agree on a president, the decision goes to the House. And then each of the 50 states gets one vote. So picture small GOP-controlled states such as Alaska, North Dakota, South Dakota, and Wyoming (each with one Republican in the House) having the same weight as California (52 members in the House, 45 of them Democrats.)

      Advantage Trump: as it stands, it’s indeed 26 to 22, with two – Pennsylvania and Michigan – basically tied.

      Ask the quant

      Internal GOP polls show that while the Biden-Harris campaign is not knocking on any doors, Trump volunteers have actually swarmed no less than 20 million homes in swing states.

      Combine it with a new Gallup Poll showing that 56% of Americans state they are better off now under Trump than four years ago under Obama/Biden. Call it the return of “It’s the economy, stupid.”

      The Trafalgar Group – which correctly called the 2106 election – bets that Trump narrowly wins the Electoral College with 275 votes.

      JPMorgan’s top quant Marko Kolanovic has exhaustively mapped changes in voter registration to dismiss virtually every poll showing a Dem sweep. This implies that Trump may well end up winning the Holy Trinity: Pennsylvania (20 votes), Florida (29 votes) and North Carolina (15 votes).

      And to top it off, something more exotic than a black hole eating a star has happened in this October Surprise-laden week: CNN decided to practice real journalism and  eviscerated Nancy Pelosi on camera.

      That may be quite a bad omen for President-in-Waiting Kamala Harris, who very few remember was forged as the heir to the Obama-Pelosi axis in a secret meeting in the Hamptons way back in the summer of 2017.

      Follow the money

      Now let’s Follow The Money.

      That’s a slam dunk. For Republicans, the top bagman is casino schemer Sheldon Adelson – who literally bought Congress for a paltry $150 million. For Democrats, it’s Haim Saban – who owns his own think tank and is Hillary’s go-to moneyman. The Dem dementia is essentially a bagman op.

      To make it even more digestible, both Adelson and Saban are rabid Israeli-firsters. A dissident Beltway intel op cuts all corners: “The Mafia front man Sheldon Adelson financed Trump for Israeli insurance even though Israel was for Hillary.”

      Four years ago, selected New York sources I was in touch with correctly called the election result at least 10 days before the fact.

      One of these, a New York business tycoon intimate with assorted Masters of the Universe in control of Wall Street, once again goes to the jugular:

      The Deep State governs both Republicans and Democrats. Trump has to work within the system. He knows it. I am a friend of Donald and I know he wants to do the right thing. But he is not in charge. He certainly wants to be friends with Russia and China. He is a businessman. He wants to make deals with countries not fight them. We were among those who set the main campaign features for him in 2016: stop rigged currencies destroying domestic industries, stop unlimited immigration destroying the lower classes wages and encourage detente with Russia and China. Largely nothing has happened in four years.”

      Still, adds another New York player, “Trump does 90% of what they want anyway. Better to keep a villain at the top to blame and keep the proles running in circles.”

      On the financial front, that will never be admitted publicly: but Wall Street, while projecting a mere pro-Dem façade, is not interested in a Democrat “sweep”, because that would tank Wall Street stocks. A contested/protracted election would go the same way – with Goldman Sachs projecting a nightmare scenario of the S&P down to only 3,100 points.

      Thus the preferred, hush hush, Wall Street scenario: a Trump win and more juicy tax cuts – in parallel with the sentiment that Wall Street’s priority is for the Fed to keep showering trillions of dollars in helicopter money whatever happens. After all the only “policy” in town is that Wall Street turned the Fed into a hedge fund.

      For its part, what Team Trump certainly does not want is the Great Reset – to be officially “launched” at a virtual Davos in January 2021.

      And all this while Goldman Sachs, once again, is adamant that the only way to “save” the nation from it humongous, ever-exploding debt is to devalue the U.S. dollar.

      Hillary wants a new job

      In the shadow play – or Wrestlemania plot – of Trump’s face-off against the Deep State, another of those New York players confirms that, “Trump was not allowed to do much of his agenda. That shows you where the real power is. The military-industrial complex wants Trump in as he is giving them everything they want for a giant military buildup. But Biden will not make that commitment.”

      Clapper, Brennan, Comey and Mueller “were just following orders and are being protected.” As for warmongering narcissistic hyena Hillary Clinton, she needs a Biden/Harris win essentially to stay out of jail, a follow-up to a “secret” deal struck with Obama which had her bow out to the former President as the de facto leader of the vast DNC machinery.

      Anyone with a brain across the Beltway knows The Walking Dead was chosen because he does not even qualify as a place mat. Assuming he would be elected president, the real power behind the throne will be the Obama-Pelosi axis – and their usual suspect masters. Welcome to the reign of President Kamala.

      Hillary though is leaving nothing to chance, doubling down and taking no prisoners. She has just released a 5,000-word manifesto which reads as an application to become head of the Pentagon.

      The fact that with all the plot twists key vectors of the Deep State continue to be untouchable should be read as the proverbial D.C. swamp protecting their flock. More than the possibility that Trump is unqualified when it comes to picking minions, more realistically he was never given any decent options: so he was stuck with nefarious specimens such as Gina “Queen of Torture” Haspel, The Warring Mustache John Bolton, and Mike “We Lie, We Cheat, We Steal” Pompeo.

      Which bring us to Attorney General William Barr – and a persistent question across many Beltway corridors: how come there have been no indictments as evidence piles up of interlocking Deep State-related shenanigans.

      Simple: Barr is CIA, part of the old Daddy Bush gang, recruited when he was still in high school, in 1971. When Daddy Bush became CIA director in 1976, Barr stepped into the CIA’s legal office and started his steady climb, culminating in 1991 as Chief Legal Counsel to Daddy Bush’s presidency.

      Needless to add, Barr subsequently squashed every possible investigation on Bush, Clinton and assorted CIA ops, from BCCI to the theft of PROMIS software.

      No one will volunteer to be on the record showing how Trump selected Barr – or how the Deep State made it happen. The fact is Barr was appointed shortly after the death of Daddy Bush. It’s unlikely that Team Trump have “turned” CIA asset Barr away from the swamp – with or without Hillary’s 33,000 deleted emails.

      And that’s what leads those New York players to bet that Barr won’t go after any star in the Deep State galaxy.

      Still the fact remains that the NSA has stored every possible call, chat or email on its massive server farms. Trump has the power to order everything to be released – as he did. Yet, as it stands, the proles have only been offered a WWF-themed sitcom.

      “I’m back” on steroids

      The total balkanization of culture in the U.S. into bulletproof containers of irrationality is precluding any possibility of civilized debate. What’s left is an endless proliferation of fake actors, paid troll armies, bots, mob outrage packaged as chocolate bars, all out hysteria.

      Whatever happens, get ready for some major Kill Bill mayhem ahead.

      And into this shooting war – not only metaphorical – steps John Lydon, a.k.a. Johnny Rotten, Sex Pistol legend and a millionaire resident of the tony parts of Venice beach in L.A. He’s voting Trump.

      That’s the ultimate crowning of POTUS Punk – except that Trump is more Village People (“Young man/ there’s no nee to feel down”) than the Sex Pistols in Holidays in the Sun or the Dead Kennedys in Holiday in Cambodia.

      Cue to POTUS Punk in Florida, “I’m back” on steroids, working an excited crowd of thousands like a pro, complete with YMCA dance moves at the end: “I’ll kiss the guys, and the beautiful women…”

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      Now compare it to “Sleepy Joe” in Ohio, in front of, well, nobody really: “I’m running as a proud Democrat…for the Senate”.

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      Last week an astonishing eight people showed up for a Biden-Harris rally in Arizona.

      And the racket goes on while a pandemic with an Infection Fatality Rate (IFR) of roughly 0.14% – according to the WHO’s own estimate – has cost the global economy no less than a whopping $28 trillion, according to the IMF.

      Oh yes: it ain’t over till slim Britney “I Did It Again” sings.

    • Austin Challenges Seattle For Title Of "Hottest City For Millennial Renters"
      Austin Challenges Seattle For Title Of “Hottest City For Millennial Renters”

      Tyler Durden

      Thu, 10/15/2020 – 22:00

      Like San Francisco and Portland, Seattle is on the list of American cities that have been emiserated by pandering Democratic politicians who have allowed, even encouraged, deadly bouts of anarchy, with the right to peacably assembl used as a pretext.

      With all that has happened this year, it’s hardly surprising that a survey from RentCafe found that Seattle, San Francisco and Austin are the hottest cities in the US for millennial renters over the past five years, though this trend had started to shift even before the coronavirus hit the US.

      In the survey, RentCafe looked at 13 million rental applications from cities across the country to put together a list of top cities based on the percentage of applicants who were millennials (those born between 1980 and 1996, or thereabouts).

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      While Seattle still remains the most millennial friendly city, three cities in Texas are now in the top 5.

      Here’s the rest of the report courtesy of RentCafe:

      One thing is certain about Millennials: If they flock to a particular city, that area will explode both economically and culturally. This generation has different views than its predecessors, preferring flexible jobs and experience-driven lifestyles that they seek out and develop in the cities they choose. At the same time, most Millennials are renters and are shifting away from the two-kid, white-picket-fence American dream — making them less likely to get tied down to a specific city. And, now that they officially overtook Baby Boomers as the largest U.S. generation to date and make up the majority of the workforce, Millennials have become the most instrumental group in shaping the future of America’s urban cores.

      So, which cities attract the most Millennial renters? To find out, we looked at 13 million actual renter applications nationwide to identify the cities where Millennials represent the highest share of those who applied for apartments. Specifically, we focused on large and mid-sized cities — where Millennials represent 38.5% of applications — and ranked them based on each city’s share. Finally, we looked at the hottest cities for Millennial renters in 2020 to get a snapshot of the emerging hubs where this trend-setting generation is heading next.

      Seattle has been the Capital of Millennial Nation of the past five years

      In the last five years, Seattle has been the top magnet city for Millennial renters, who represent half of those who applied for an apartment in the largest job hub in the Pacific Northwest.

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      Seattle was the fastest-growing big city in the past decade, so its presence on the list is to be expected. What’s more, the massive job hub boasts homegrown tech giants like Amazon and Microsoft, as well as satellite offices for other big-name employers, such as Facebook, Google, Nintendo and Costco. Clearly, a city with a strong tech sector is an attractive setting for a generation that dominates the tech world today. Plus, salaries in Seattle experienced the fourth-fastest rise among the nation’s big cities in the past decade (up 55.2%), which can also be a big incentive to draw young talent.

      San Francisco has been the second hottest city for Millennials in the last half-decade, with a 48.7% share of Millennials who applied for rent in SF. The epicenter of the U.S. tech boom, the Bay Area city had the second-fastest-growing incomes in the nation in the last 10 years (up 56.6%), so it continues to attract young professionals looking for prosperous employment and upscale living — despite being one of the priciest markets in the U.S.

      The Texas Triangle rounds up the top five

      Austin, Houston and San Antonio follow as the third, fourth and fifth Millennial favorites. The Lone Star State’s lucrative oil sector, its booming health industry and zero state income tax have turned Texas into the decade’s biggest winner in terms of overall growth.

      Austin — the prime Southern hub for high-tech and culture — is the third-hottest city for Millennial renters in the U.S., with a 48.1% share of renters in this age group applying to move within or to the Texas capital. The rapidly developing area saw both its employment offer and its residents’ incomes swell in recent years, while still maintaining a lower cost of living than other major business centers.

      Houston (45.6%) follows, with a varied employment landscape that is firmly rooted in the health, research and oil industries. Meanwhile, military hub San Antonio takes the fifth spot in the ranking, boasting a diverse economy, below-average unemployment rates and an affordable housing market.

      Both New York and Los Angeles are notably missing from the top 15. The two biggest cities in the U.S. are also the top two cities which lost the most residents in the past decade, as renters and homeowners alike have been moving to less pricey areas.

      The largest share of Gen Ys moving to San Francisco is from New York

      To find out where the hottest cities for Millennial renters are attracting residents from, we excluded same-city moves and looked at the cities which contributed the largest share of Millennial rental applications to each hotspot.

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      The hottest city for Millennials, Seattle, attracted its most significant share of Millennial applications from neighboring boomburg Bellevue (6.4%). However, fellow hotspot Chicago contributed the second most Gen Y renters to the city (3.6%), while Los Angeles (3.5%) came in third.

      San Francisco is at its most popular by far among New York Millennial renters (8.2%), likely because New York is the only city in the nation with a higher cost of living than the tech boomtown. San Francisco attracted its second and third largest shares of Gen Ys from fellow Bay Area hubs Mountain View (6.9%) and San Jose (5.9%).

      Southern Millennial hubs attract residents on a regional level

      Austin, the definitive Southern tech hub, has been attracting residents on a more regional level. Houston is its most significant contributor (7.7%), as Austin has been catching up economically with the in-state energy hub. Super suburb Round Rock (7.6%) and neighbor San Antonio (5.8%) follow.

      Houston is most popular among Gen Y renters from its own suburbs. Katy contributed the largest share of Millennials to the city, 12.3%, followed by Spring (8.3%) and Humble (4.7%). San Antonio, meanwhile, has been catching up from behind. Although its most significant contributor is Converse (7.5%), the city is also popular among both Houston (6.5%) and Austin (6.2%) Gen Y renters.

      Charlotte, Louisville, Memphis and Dallas also attract Millennial renters mostly from in-state cities or nearby towns — these places are still developing as economic and cultural Gen Y hubs, so they still have a ways to go before competing with the nation’s largest urban cores.

      Austin set to dethrone Seattle, to become the next No. 1 Millennial City

      Finally, we looked at the most sought-after cities by Millennial renters in 2020, to see which places are set to become the Gen Y hubs of the future. To that end, Austin’s rise in popularity puts it at no. 1 in 2020, as the top Millennial favorite. Half of the total rental applicants from and to the Texas capital are Millennials who want to live here.

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      In tight competition, the next three cities have very similar shares. San Francisco maintains its second spot in 2020 with a 48.6% share, in spite of its high cost of living. However, many Millennials have begun choosing the tech hub’s more affordable neighbor, Oakland, as their home in the Bay Area, as San Francisco’s rents drove them to seek less pricey housing in this emerging hotspot. As such, Oakland made an astounding entrance into the top 15, shooting straight up to third place with a 48.4% share of Millennials choosing to live in the city.

      Seattle drops to the fourth place in 2020, with a 48.1% share of Millennials applying for apartments — hinting that its popularity among renters from this generation might be dwindling. The Northwestern city’s average rent rose the second-fastest among the largest cities in the past decade, so an increasing number of Millennial renters may begin choosing more affordable areas. Houston, meanwhile, is holding steady (47.7%). While the oil industry has had its challenges in the last year, the city’s energy industry infrastructure, world-class port, and continued boom in healthcare and research have kept it among the top five hottest cities for Millennial renters in 2020 as well.

      Philadelphia, San Jose, Virginia Beach, and Los Angeles are new additions to the top 15. At the same time, Denver, Louisville, Atlanta, Dallas and Portland dropped from the ranking. Whether these disruptions will continue into the new decade remains to be seen. For now, the map of prime hubs for Millennial renters is continually evolving, and it seems as thought the country’s established boomtowns might just be overtaken by up-and-coming players.

      Methodology

      Renter application data, which was sourced from RentGrow, was provided after being completely anonymized and aggregated. No personally identifiable or other confidential information was disclosed or used in conjunction with this article.

      A total of 13.2 million renter applications in 4,000 cities were analyzed overall, out of which 5.6 million were included in the final ranking analysis.

      For best statistical relevance, only cities with a minimum of 5,000 renter applications between 2015 and 2020 and a minimum of 1,000 applications in 2020 were taken into account for the ranking. The top 15 ranking is out of 61 cities.

      Demographic data on population, income, and employment was sourced from the U.S. Census Bureau.

      The analysis was limited to large and mid-sized cities with a population over 300,000 residents.

      Cities of all sizes were included in the migration pattern analysis to determine the largest contributors.

      Millennials are defined as the generation born between 1981 and 1996. Millennials are sometimes referred to as Gen Y.

      * * *

      Source: RentCafe

       

    • The Wildfire West: Where Housing Sprawl And Wildfire-Prone Areas Collide
      The Wildfire West: Where Housing Sprawl And Wildfire-Prone Areas Collide

      Tyler Durden

      Thu, 10/15/2020 – 21:40

      Via Priceonomics,

      As the world is still in the midst of a global pandemic, we are now entering fire season in the American West. After years of elevated global temperatures and drought, by the end of each summer, smoke-filled skies seem to be the norm across the West. 

      Though we would love a respite from calamity, there is no reason to believe that we’ll be spared from wildfires this year. With scientific certainty, we know which areas are prone to wildfires, though home construction continues in those areas.

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      At Cape Analytics, we use artificial intelligence to analyze vast quantities of geospatial imagery to help insurers and other companies better understand properties and property risk. Along with our partner HazardHub, we wanted to explore exactly how much sprawl there has been in the West’s high-risk fire zones. From the standpoint of insurance and danger to human life, these homes and adjacent communities are especially risky. Quantifying the risk can help homeowners and agencies such as CAL FIRE take more proactive and focused measures to protect lives and property.

      The Hot Spots

      To create this report, we analyzed new homes built over the last decade and found that California leads the West when it comes to the most builds in high-risk areas. Given that California is the most populous state in the country, we can expect a lot of new construction. When adjusting for population size, Utah leads the West by a significant margin in building homes in places with high fire risks. 

      When looking at specific cities with the most new home construction in high-risk zones in the West, El Dorado Hills, California tops the list, followed by St. George, Utah. In addition, as the pandemic has precipitated an urban exodus, many residents are fleeing into higher-risk fire zones.

      Research Strategy

      Before diving into the analysis, it’s worth spending a moment on the data and methodology. In this project, we identified new home construction over the last decade in Western states prone to wildfires. Specifically, we focused on areas in or near the Wildland Urban Interface — areas designated by the U.S. Forest Service, where human development and fire-prone wilderness meet. Our hazard data partner, HazardHub, then provided us with a wildfire risk score for each locality. This risk score takes weather, wildfire history, and many other factors into account. Finally, we narrowed down our analysis to new homes built in those high wildfire risk zones.

      Findings by State

      First, let’s look at the raw number of new homes built in the last decade in high wildfire risk zones out West:

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      Over the last decade, California has built over 10,000 homes in areas deemed as high wildfire risk. High land prices and stringent zoning requirements in the California urban core have pushed builders further into rural areas, where the fire risk is much higher. Over the last few years, we have seen how dangerous wildfires can be in these areas of California, as places like Paradise and Santa Rosa have been devastated by fires. Among Western states, Utah ranks second in terms of high fire risk building, followed by Colorado. 

      However, it’s important to remember that California is the largest state in the United States by population and the third-largest by landmass. Given its size, we can expect more home construction in California compared to other states.

      To account for this size question, we’ve adjusted by population, to see where states are building more homes in wildfire zones at the highest per capita rate (per 100,000 residents):

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      After adjusting for population size, it becomes clear that Utah has the most home building activity in high fire risk zones in the West. For every 100,000 citizens, 191.6 homes are built, a figure that is approximately 5x higher than Idaho, which ranks second in this metric. Utah, an arid state with large swathes of flammable vegetation, has actively developed a number of communities in high wildfire risk zones.

      City by City

      To break it down even further, let’s look at the cities out West with the most new homes built in high wildfire risk zones. The chart below shows all cities in our analysis with at least 100 new builds in fire zones:

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      El Dorado Hills, California, a town in the picturesque Sierra Nevada mountain range in California, has the most new home building, with 1,415 new builds recorded over the last decade. Experts have identified this area as part of the “rural sprawl” increasing fire risk. Autumn Berstein of the Sierra Nevada Alliance comments on the area:

      “There is a tremendous amount of population growth going on in these extreme fire danger areas…Unless Sierra counties can start to change the way they are growing, we are going to have a much bigger fire problem on our hands.”

      A similar dynamic is taking place in Utah, as large amounts of housing development are taking place in naturally beautiful, but highly combustible areas. For example, St. George, Utah, the second-ranked city in this analysis, is a mecca for retirees and vacationers near Zion National Park. The area, however, is filled with new developments plunked in the middle of high fire risk zones where water is brought in via pipeline from far away.

      By looking at the increase in home building on a relative basis (comparing the number of new homes to the size of the city), we can bring smaller towns into focus. The chart below further demonstrates how Utah’s sprawl has accelerated over the last decade, with small towns like Stockton, Hurricane, and Santaquin expanding into high-risk areas. St. George again ranks high on this list as well. 

      Additional HazardHub analyses of these towns in Utah’s high desert paint a more detailed picture: St. George has been in a state of drought for 72 percent of the last 20 years, while Hurricane has been in drought for 68 percent of the previous 20 years. These bone-dry conditions are interspersed with short periods of rain, which allow scrub brush to grow…and then dry out again, creating excellent fuel for wildfires. These areas may not be ringed by dense forest, but they are still at very high risk of destructive fires driven by desert winds.

      Insights and Mitigation Strategies

      As a company that works with home insurers, each property’s fire risk is a metric we monitor over time. As this analysis shows, a tremendous number of new homes are being built in the highest wildfire risk areas. While they may be naturally beautiful, they are also naturally combustible. Our analysis suggests places like California and Utah contribute to rural sprawl and do so at considerable risk for more destruction of homes and loss of life wrought by wildfires. Moreover, as the climate gets hotter and drier, the risk in these areas will only grow, as stronger, wind-driven wildfires impact even some lower-risk regions. 

      What can residents do to protect themselves as wildfire risk increases in the coming decades? Luckily, some actions are proven to mitigate risk for individual properties. 

      One of the most effective deterrents is defensible space — a fancy word for clearing vegetation and flammable debris around your house. CAL FIRE, for example, recommends residents trim tree branches at least 10 feet away from buildings and other trees, and remove dead plants, branches, and shrubs up to 30 feet away from the structure. When implemented across entire neighborhoods, maintaining defensible space can insulate communities from the worst damage. For many of the areas named in this report, mitigation measures like these could be the difference between a neighborhood withstanding a wildfire and a community being destroyed.

    • Singapore Airlines Transforms Grounded Planes Into Pop-Up Restaurants
      Singapore Airlines Transforms Grounded Planes Into Pop-Up Restaurants

      Tyler Durden

      Thu, 10/15/2020 – 21:20

      The virus pandemic and the resulting plunge in air travel have caused airlines to park fleets of planes on tarmacs across major airports worldwide. Airlines are losing billions of dollars per quarter as planes sit dormant. Still, fast-thinking Singapore Airlines is transforming two double-decker Airbus A380s, the world’s largest passenger aircraft, into pop-up restaurants, Bloomberg reports. 

      Singapore Airlines sold out of restaurants seats on the two A380s on Monday, within 30 minutes of listing the restaurant offers online, which is a novel way for the struggling airline to raise money while its jets are parked. The temporary restaurants will only be open from Oct. 24-25. 

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      Meal ranges cost anywhere from $474 for a business class meal to $39 for an economy class experience. Around half the planes’ seats will be available for dining to allow for social distancing. 

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      Vice President of Commercial Operations Lee Lik Hsin said the airline will study the waitlist and see how it can “potentially accommodate some of those who are still interested in this unique dining experience.” 

      Singapore Airlines suffered a record $827 million net loss in the third quarter of 2020 and is laying off 20% of its workforce. The airline has already burned through half of the $6.4 billion of cash it raised via the equity market earlier in the summer. 

      With hundreds of flights grounded worldwide, the financially battered airline is attempting to raise cash in an unorthodox means as passenger traffic worldwide is not expected to return to 2019 levels until 2024.  

    • America Is Divided Over Class Not Race In 2020
      America Is Divided Over Class Not Race In 2020

      Tyler Durden

      Thu, 10/15/2020 – 21:00

      Authored by Charlie Kirk via HumanEvents.com,

      It’s ‘Skype-Zoom’ v. ‘Muscular’ in today’s 2020 political cage match…

      We all know about the voice within the choir that stands out from the others with a distinct and superior sound. Such is the voice of Professor Victor Davis Hanson (VDH) when he decides to make himself heard among the monotone crowd of established political punditry. VDH stole the microphone this past week in an appearance with Tucker Carlson where, during a roughly six-minute interview, he made more sense of the current political landscape in America than any other “expert” in the past six months.

      VDH is not a political analyst by trade. His background is that of being a classicist in philosophy, while at the same time being a leading military historian, especially with regard to WWII (his brief but thorough history course on the “Great War” is a must for those interested). What he has brought to the world of political analysis since his very recent entry are a fresh perspective and a very disciplined and rational mind. In short, he is thoughtful, not reflexive.

      In his interview with Tucker, VDH explained what the real source of division in America is today. It is not, despite what Democrats and the mainstream media (MSM) try to force on you, a division that is primarily about race. It is a division about class. While the idea of class struggle is not new to political science, the current iteration of it is, and it has sprung up aggressively during the past six months. According to Hanson, it is the division between the Skype-Zoom class and the muscular class.

      VDH argues that there is a class of people that have found refuge in their home offices and basements since the onset of the Chinese coronavirus.  They are the traders, the telemarketers, and those who can make their living through the softer professions of the mind. The “Skype-Zoom class” also includes the ruling class: those at the highest levels of society that pull the strings, and control the means to power and production.

      In author Tom Wolfe’s terms, they are the masters of the universe.

      While the Skype-Zoom class sits safely in their homes and uses their MacBook to make bank, outside their walls, out in the real world of production, lives the muscular class. These are the people who are delivering the food you order from Grubhub, or the disinfectants and hand sanitizers you order from Amazon, both of which might be ordered by Skype-Zoom types in order to save them the risk of leaving their home and becoming infected with the virus. Best to leave that risk for someone else, someone in the muscular class.

      The muscular class people are also the ones out there nine hours a day cooking the food Skype-Zoomers ordered and manufacturing and packing the hand sanitizers.

      If this talk of “musculature” and “class” brings thoughts of Marx to mind, it should. These are very much Marxian terms. Marx talked about man’s natural inclination to work and produce, and also man’s natural tendency to try to control the work and production of other men. In his first phase of history, post-primitive, Marx pointed to the need to control musculature because physical strength was required to make almost everything. The need for control led to the development of slavery, where the masters could own the source of labor. I have previously shared my thoughts on Human Events regarding the current relevance of Karl Marx.

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      Later in history (phase three for Marx), the masters of the universe would discover, under capitalism, that it was cheaper to just “rent” the labor of men. They pay rent in the form of wages. Wanting to maximize their profit, they exploit that labor as much as they can by suppressing wages. A class struggle develops, ultimately leading to revolution.

      What VDH is pointing out relates to something that I have been trying to share with audiences of late. While Marx might be dead, Marxism isn’t, and in 21st Century America, it is taking on compelling and dangerous forms. VDH’s observation shows us that what we are witnessing right before our eyes is a mixture of Marx’s first phase of history (ownership of musculature) with his third phase (exploitation of paid workers). 

      Dismiss Marx if you’d like because you think his conclusions are immoral. You do so at your own peril in terms of addressing what is happening in America.

      VDH goes on to identify what this class conflict means in terms of the presidential election and how President Trump can use the current climate to make an appeal to a group of roughly 100 million largely denigrated workers. 

      In terms of the two new classes, Joe Biden clearly fits the prototype for the Skype-Zoom class. In conducting a campaign from his basement and hiding from both voters and the virus—all the while criticizing every move President Trump makes demonstrating bold leadership. Biden presents as someone fearful. He is far more likely to criticize the delivery person bringing toilet tissue to his front door because his mask isn’t tight around his nose than he is to be willing to help him take the delivery off the truck.

      On the other hand, President Trump has been willing to lead and take risks during this crisis. He has met with foreign leaders, and he has met with voters. He placed himself at risk of catching the Chinese coronavirus, and when he did catch it, he was willing to take experimental drugs to test them for the rest of us. While the MSM, Democrats, and the Skype-Zoom class have been critical of such risk taking, they forget that without the risk taking of others, they would not have the luxury of sitting in their basements in their $2,000 ergonomic office chairs to level their hate at the real men and women who make America work: the musculature class of America.

      President Trump needs to appeal to these workers and let them know that he is the candidate that respects and honors their work effort. He needs to appeal to the muscular class. While conservatives may find class conflict distasteful, they need to recognize the reality that the country is currently awash in it. To ignore it is to risk succumbing to it.

      Right now, three very distinct economic philosophies are alive in this country.

      • The first can be found in the ideas of “Bolshevik” Bernie Sanders and his complete collectivist notions of central government controlling everything.

      • The second is the corporate class mentality of Biden and Harris: they favor a partnership between very big government and very big business. It is fascist in nature and allows for greater and greater class division and exploitation.

      • The third is the President Trump model of patriotic free enterprise. This is where the free market is allowed to work, and the government makes sure that American business and worker interests are placed at the forefront of all policy-making considerations.

      That third model is the one that can appeal to the muscular class regardless of their current political party affiliation. If they continue to be exploited, they are eventually going to rebel.

      Marx taught us that. History itself teaches us that.

      There is a myth that the Marxist movements that have arisen over the past 120 years are ideological in origin. They are not. In all cases, from Russia to China and everywhere else, the Marxist revolution took place because the workers who make up the middle class, the essential middle class, have lost faith in the system. They lose faith in those who lead it.

      Right now, the system is too often being led by Barack Obama types: elitists who have a general disdain for ordinary working people. They use power to exploit others and are disrespectful of the muscular class. They are Skype-Zoomers. They are also weak.

      It is my firm belief that the arc of civilization has three distinct phases.

      • In its ascent, a society is evidenced by the strong exploiting the weak. This may be an unfortunate necessity in order to build.

      • In its perfected stage, the same strong people—who once were exploiters—now protect the weak.

      • Finally, in its decline, society will show evidence of the weak controlling the strong. Increasingly in today’s America, this is what we see. It is the Skype-Zoom class exploiting and attempting to control the muscular class.

      President Trump, the muscular President, has a chance to use this dynamic to his advantage. Those 100 million or so out there wearing masks, taking risks, and carrying our country on their shoulders like Atlas, might just about be ready to shrug. They need a candidate to tell them he supports them and not the basement-dwelling masters of the universe who critique them.

      When the time comes that they have had enough, they are going to fight back. It is important to remember that when they decide to fight, they are the muscular ones.

    • Greenwich Housing Market Just Had Its Best Quarter In A Decade Thanks To The Coronavirus
      Greenwich Housing Market Just Had Its Best Quarter In A Decade Thanks To The Coronavirus

      Tyler Durden

      Thu, 10/15/2020 – 20:40

      Over the past three years, we have routinely chronicled the falling demand for opulent mansions in Greenwich, Conn., a town in Fairfield County which embodies wealth and privilege. In the spring of 2019, we reported that Greenwich’s “upscale” market (typically homes in the $10 million-plus range) had seen sales evaporate, leaving prices to tumble 25%. Many sellers pulled listings off the market, deciding to wait for a better market.

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      Just one year later, the coronavirus pandemic precipitated a dramatic change in fortunes. Demand soared for Greenwich mansions in the spring. And what many believed would be a “short-term” surge in demand has persisted.

      On Thursday, Bloomberg reported on the latest batch of data released by local real estate brokerages.

      According to a report from appraiser MIller Samuel, deals involving single-family homes jumped 70% during the third quarter from a year earlier. In total, 311 sales were counted – the largest number dating back to 2010 – and the median price on those deals surged 18% to $2.13 million.

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      Realtors have been particualrly impressed by sales in a part of town known to real estate agents as “Back Country”. North of the Merrit Parkway, Back Country is known for large estates with many acres and amenities.

      “We couldn’t give Back Country away, it was too far away from downtown,” said Scott Durkin, president of Douglas Elliman. Now, its homes have become “the most-requested property.”

      But during Q3, it was the best-selling part of town.

      “With bigger homes, you’ve got the opportunity to have extended family with you, but also more amenities on-site,” said David Haffenreffer, manager of brokerage Houlihan Lawrence’s Greenwich office. “You can spread out and live that quarantine life in a more-liberated way.”

      Discounts in Q3 averaged 4.4%, the smallest in a decade, Miller Samuel and Douglas Elliman said. Properties spent an average of 139 days on the market, 25% less time than a year ago. There were 172 homes, under contract as of Sept. 30, the end of the quarter.

      The turnaround in the Greenwich real estate market is just one more way wealthy Wall Street executives have benefited, or at least been shielded from, the worst affects of COVID-19.

      Meanwhile, a new nonprofit newsroom called “The City” dedicated to covering NYC published a piece about the surging demand for food banks and social services in the Bronx.

      The Bronx has always been poor, its author contends. But this time, it’s different. The official unemployment rate in the Bronx is now 21%, the worst in the city, and near the highs from the Great Depression era. Many of its residents are struggling, and depend on charities like BronxWorks for food. When the moratorium on evictions ends, many fear they will be kicked out by desperate landlords.

    • Election War Games: "A New America Waits In The Wings" After Pre-Planned Chaos
      Election War Games: “A New America Waits In The Wings” After Pre-Planned Chaos

      Tyler Durden

      Thu, 10/15/2020 – 20:20

      Via The Organic Prepper blog,

      You may initially read this article and find that it is partisan and unfairly targets the Democratic Party. We urge you to look beyond that initial reaction at the facts, not the emotions. Chaos is inevitable after this election, regardless of who is declared the winner. This gives you a glimpse at a powerful group that has been “war-gaming” the situation and their predicted outcomes. As a person who wishes to be prepared, it’s important to know these things so that you can be ready for something that seems to be a planned event.

      Daisy

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      Authored by Robert Wheeler,

      The Transition Integrity Project (TIP) was launched to identify potential risks to the integrity of the November 3, 2020 election process. TIP conducted a series of war games in the summer of 2020, exploring what could possibly go wrong regarding the election. Once risks were identified, the group conducting these war games hoped to find solutions to mitigate those risks.

      These simulated “war games” were conducted by a group of Democratic Party insiders, former Obama and Clinton officials, and a number of “Never Trumpers”. TIP justified these exercises as preparation for a Trump loss, and a subsequent refusal by Trump to concede the election.

      However, TIP’s report published on August 3, 2020, shows a different story.

      In light of this and other studies, no matter where you live, we suggest getting your home ready for the potential of civil unrest and riots and stocking up on emergency food and supplies.

      Are these simulations actually manipulating the outcome of the elections?

      On the TIP site, it states the goal of the project was to ensure that the outcome of the 2020 Presidential election was legitimate. However, the ties with the Obama administration and pro-Biden groups raises concern that the group is actually planning to ensure the crisis they claim to be attempting to prevent with the simulations.

      Whitney Webb writes in an article published on Unlimited Hangout:

      …according to TIP’s own documents, even their simulations involving a “clear win” for Trump in the upcoming election resulted in a constitutional crisis, as they predicted that the Biden campaign would make bold moves aimed at securing the presidency, regardless of the election result.

      Whitney’s article goes on to explain that the organizers of TIP have ties to the Obama administration, several pro-Biden groups, and the Biden campaign and that this is particularly troubling. Whitney writes:

      …the fact that a group of openly pro-Biden Washington insiders and former government officials have gamed out scenarios for possible election outcomes and their aftermath, all of which either ended with Biden becoming president or a constitutional crisis, suggest that powerful forces influencing the Biden campaign are pushing the former Vice President to refuse to concede the election even if he loses.

      Such concerns are only magnified by the recent claims made by Hillary Clinton, that Biden “should not concede under any circumstances.” Clinton continued during an interview with Showtime,“I think this is going to drag out, and eventually I do believe he will win if we don’t give an inch, and if we are as focused and relentless as the other side is.”

      What are some examples of these simulated war games?

      Game 3 “Clear Trump Win”, simulated not only how Republicans could use every option at their disposal to “hold onto power”, but also how Democrats could do so if the 2020 election result is not in their favor.

      Joe Biden – played by John Podesta, retracted his election night concession and convinced “three states with Democratic governors – North Carolina, Wisconsin, and Michigan – to ask for recounts.” Then, the governors of Wisconsin and Michigan “sent separate slates of electors to counter those sent by the state legislature” to the Electoral College, which Trump had won, in an attempt to undermine that win.

      Then, the Biden campaign encouraged Western states to secede from the Union unless the Congressional Republicans agreed to a set of structural reforms. With advice from former President Obama, the Biden campaign listed the reforms as follows:

      • Give statehood to Washington, DC, and Puerto Rico

      • Divide California into five states “to more accurately represent its population in the Senate”

      • Require Supreme Court justices to retire at 70

      • Eliminate the Electoral College

      These structural reforms will lead to the U.S. having 6 additional states. These six new states will ensure a perpetual majority for Democrats because only Democrat-majority areas are given statehood. Notably, in other scenarios where Biden won the Electoral College, Democrats did not support its elimination.

      The TIP claimed that the Trump campaign would seek to paint these “provocative, unprecedented actions” as “the Democrats attempting to orchestrate an illegal coup,” despite the fact that that is essentially what those actions entail.

      The Biden campaign “provoked a breakdown in the joint session of Congress by getting the House of Representatives to agree to award the presidency to Biden. The Republican party did not consent, noting that Trump had won the election through the electoral college victory.

      This simulation ended with no president-elect being inaugurated on January 20. 

      Who are the people involved in TIP and who are they associated with?

      TIP was co-founded by Rosa Brooks and Nils Gilman and its current director is Zoe Hudson.

      The article written by Webb reveals that Brooks was an advisor to the Pentagon and the Hillary Clinton-led State Department during the Obama administration. She was also previously the general counsel to the President of the Open Society Institute, which is affiliated with the Open Society Foundations (OSF). Zoe Hudson also has ties to OSF, serving as senior policy analyst and liaison between the foundations and the U.S. government for 11 years.

      Webb writes:

      OSF ties to the TIP are a red flag for a number of reasons, namely due to the fact that OSF and other Soros-funded organizations played a critical role in fomenting so-called “color revolutions” to overthrow non-aligned governments, particularly during the Obama administration. Examples of OSF’s ties to these manufactured “revolutions” include Ukraine in 2014 and the “Arab Spring,” which began in 2011 and saw several governments in the Middle East and North Africa that were troublesome to Western interests conveniently removed from power.

      As reported by Webb, Nils Gilman, co-founder of TIP and the current VP of Programs at the Berggruen Institute, is particularly focused on artificial intelligence and transhumanism. Gilman recently told the New York Times that his work at the Berggruen Institute is focused on “building [a] transnational networks of philosophers + technologists + policy-makers + artists who are thinking about how A.I. and gene-editing are transfiguring what it means to be human.”

      Is there a list of TIP participants?

      This question is taken directly from the TIP website. Here is the answer given:

      To ensure candid contributions, the Transition Integrity Project’s exercises were conducted under Chatham House Rules, under which participants were free to talk about their own role in the exercises and their general observations, but were asked to respect the confidentiality of other participants. Some of our participants have chosen to write or give interviews about their experiences during the exercise, however. You can see some examples below:

      Unofficial TIP spokesperson claims there is reason to be worried.

      Though he is not mentioned in the list, Lawrence Wilkerson has been the most outspoken of all the participants. He has done most of the media interviews promoting TIP and its “War Games”. Wilkerson said in an interview in June with Paul Jay that aside from their “war games,” the other TIP activities are confidential.

      Wilkerson specifically stated: “There is some confidentiality about what we agreed to, and what we’ve put out publicly, and who’s responsible for that, and other aspects of our doing that. The Transition Integrity Project is to this point very, very close, whole, and confidential.”

      In that same interview, Wilkerson also noted that the current “combination of events” involving the recent unrest in several U.S. cities, the coronavirus crisis, the national debate over the future of policing, the economic recession and the 2020 election was the foundation for a revolution in the U.S. He told Jay:

      I want to say this is how things like 1917 and Russia, like 1979 and Tehran, and like 1789 in France. This is how these sorts of things get started. So we’ve got to be very careful about how we deal with these things. And that worries me because we don’t have a very careful individual in the White House.”

      That last quote is chilling because America is indeed heading in the direction of Russia in 1917. That revolution saw the death of 70 million people.

      Where is all this headed, and who benefits from these scenarios?

      Webb hazards a guess when she states:

      The question then becomes, who benefits from complete chaos on and following the 2020 election? As the TIP suggested in several of their simulations, the post-election role of the military in terms of domestic policing, incidentally the exact expertise of the TIP’s co-founder Rosa Brooks, looms large, as most of the aforementioned doomsday election simulations ended with the imposition of martial law or the military “stepping in” to resolve order and oversee the transition.

      The domestic framework for imposing martial law in the U.S., via “continuity of government” protocols, was activated earlier this year under the guise of the coronavirus crisis and it remains in effect. Now, a series of groups deeply tied to the Washington establishment and domestic and foreign intelligence agencies have predicted the exact ways in which to engineer a failed election and manipulate its aftermath.

      Who would stand to benefit the most from the imposition of martial law in the United States? I would argue that one need look no further than the battle within Washington power factions over the future of AI…

      The last line of Webb’s article states: “By keeping Americans angry and distracted by the partisan divide through pre-planned election chaos, a “New America” waits in the wings – one that is coming regardless of what happens on election day. That is, of course, unless Americans quickly wake up to the ruse.” The media is great at inciting division, both here and in other countries.

      This grim vision of the future has been warned about by other researchers in the past. November 3 is approaching quickly and so is the technological control grid and all the chaos that will bring it to pass. Being prepared for civil unrest is essential.

      I don’t personally have much hope for the future. But one thing is for certain – it’s going to be a bumpy ride.

    • Watch Live: Trump & Biden Hold Dueling Townhalls In Lieu Of 2nd Debate
      Watch Live: Trump & Biden Hold Dueling Townhalls In Lieu Of 2nd Debate

      Tyler Durden

      Thu, 10/15/2020 – 19:55

      While many had longed for the Rumble In The Jungle 2.0 as Trump and Biden “debated” god knows what; thanks to the virtual decision of the ‘completely non-partisan’ Commission (and the ‘unquestionably independent’ moderator), tonight’s Presidential Debate will not take place.

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      Instead, we are treated to dueling ‘Townhall’ meetings as Trump and Biden face-off across the airwaves tonight at 8pmET with Trump on NBC and Biden on ABC.

      The ‘Outrage Mob’ was, well, outraged, that NBC News (two weeks after airing a Biden Townhall) would denigrate themselves to giving ‘Hitler’ airtime. Twitter came alive with angry libtards signaling how virtuously upset they were…

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      Even Barbara Streisand chimed in, ensuring a few extra points of virtue were signaled…

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      Not to be left out of the virtue-signaling, more than 100 top NBCUniversal producers and stars have sent a letter to executives at NBCUniversal and its parent company Comcast protesting the timing of the town hall event, per The Hollywood Reporter.

      Of course, all this outrage was put in context by Ben Shapiro…

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      Both candidates have (for now) agreed to participate in the third debate, which is scheduled for Oct. 22 and will be moderated by Kristen Welker of NBC News.

      Here’s a quick cheatsheet on what the main policy differences are, in case you needed reminding…

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      Amid all the outrage, media bias, and “polls”, it is worth considering that Trump is performing slightly better against Biden than he did against Hillary in the Battleground states…

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      Source: RCP

      But for tonight, you choose America:

      George Stephanopoulos of ABC News will moderate the Biden town hall, while Savannah Guthrie of NBC News will moderate the Trump town hall.

      The Trump town hall is taking place at the Pérez Art Museum in Miami. The Biden town hall will take place at the National Constitution Center in Philadelphia.

      The big question is – will either of the Townhall events discuss CPAN’s suspension of Debate Moderator Steve Scully or the NYPost’s expose of Joe Biden’s son’s dirty dealing with Ukraine and China?

      Watch Trump Townhall Live here:

      Or the Biden Townhall Live here:

      Enjoy!

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    • Venezuela's COVID-19 Battle Is Badly Hamstrung By The 31 Tons Of Gold Stolen From Its Treasury
      Venezuela’s COVID-19 Battle Is Badly Hamstrung By The 31 Tons Of Gold Stolen From Its Treasury

      Tyler Durden

      Thu, 10/15/2020 – 19:40

      Authored by Vijay Prashad and Carmen Navas Reyes via Counterpunch.org,

      On October 5, 2020, the England and Wales Court of Appeal overturned a lower court decision from July that denied the Venezuelan government access to 31 metric tons of its gold stored in the Bank of London.

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      No one denies that the gold belongs to the Venezuelan government. However, the bank refused to give the government of Venezuelan President Nicolás Maduro access to the gold; following the UK Foreign Office’s example, the bank said that the actual president of Venezuela was Juan Guaidó.

      Mr. Guaidó, unlike President Maduro, has not won an election to the presidency, nor is he in the line of succession to become president in any eventuality. The anointing of Mr. Guaidó came from the United States government, not the Venezuelan people; the UK Foreign Office and the lower courts agreed with Washington, while the England and Wales Court of Appeal relied for its decision on fact and logic.

      The main finding of the Court of Appeal is that while the UK Foreign Office has stated that it does not recognize the government of President Maduro, it continues to conduct diplomatic affairs with the representatives of that government. Ambassador Rocío Del Valle Maneiro González presented her credentials to the Queen of England in 2015 and has for these past five years represented the government of President Maduro in the UK. The current British ambassador to Venezuela—Andrew Soper—presented his credentials to President Maduro on February 5, 2018; he remains in office in Caracas. Such basic diplomatic relations indicated to the Court of Appeal that President Maduro—in the eyes of the UK government—“does in fact exercise some or all of the powers of the President of Venezuela.”

      Mr. Guaidó’s lawyer—Vanessa Neumann—said that the Venezuelan government wanted the $1.95 billion (in today’s gold prices) so that it could “illicitly finance itself.” But the Venezuelan government’s lawyer—Sarosh Zaiwalla—argued that these funds would be used by the government to break the chain of infection of COVID-19 and provide relief to a population struck by the U.S. unilateral sanctions and by the disruptions caused by the pandemic. The Central Bank of Venezuela (BCV) said that it wants to sell the gold, to have the funds paid to the United Nations Development Program (UNDP), and to allow the UNDP to assist in the government’s response to the pandemic. Even this channel via the UNDP has been rejected by Mr. Guaidó, by the UK government, and by Washington; there is no likely reason they would do this outside of a desire to punish the Venezuelan people in the midst of this pandemic.

      Money for Medicines

      Tricontinental: Institute for Social Research and the Instituto Simón Bolívar have been studying the social impact of these very harsh sanctions imposed by the U.S. administration since 2017. They have found that the primary and secondary sanctions have starved the Venezuelan people of the means to conduct basic commerce: to sell their oil and to buy food, medicines, and educational materials (primary sanctions directly prevent citizens and firms of the sanctioning country from having any dealings with the country being sanctioned; secondary sanctions prevent a third party—either a country or a firm—from dealing with the sanctioned country). Tens of thousands of Venezuelans have died unnecessary deaths because of the denial of trade in medicines and medical equipment; this has challenged the already fragile system during the pandemic. To allow these unilateral sanctions by the United States, and its pursuit of regime change in Venezuela, to define the way Venezuela can fight the virus and the disease is shocking. “Collective penalties,” says the Fourth Geneva Convention (1949), “are prohibited.”

      What does the Venezuelan government wish to buy with the $1.95 billion that would be turned over to the UNDP? According to research by Tricontinental: Institute for Social Research and the Instituto Simón Bolívar, the bulk of the funds—$600 million—is planned to go toward the purchase of medicines for 400,000 people in hospitals, for obstetric medicines for 550,000 pregnant women, and medicines for the 243 community pharmacies. Then, $450 million is planned to go toward disposable medical supplies for 400,000 surgeries, for 245 health centers, and for 3,000 pacemakers. Finally, $250,000 has been planned for the supply of reagents for laboratories (for hematology and serology), and for spare parts for various kinds of medical equipment (including radiation therapy equipment). This is how the Venezuelan government—in collusion with the UNDP—would like to “illicitly finance itself.”

      In May, three UN special rapporteurs wrote that in Venezuela, “hospitals are reporting a shortage of medical supplies, protective equipment and medicine.” These are exactly the materials on the list from the Venezuelan government to buy from the proceeds of the sale of the 31 metric tons of gold. These experts—Olivier De Schutter (extreme poverty and human rights), Léo Heller (water and sanitation), and Kombou Boly Barry (education)—said, “especially in light of the coronavirus pandemic, the United States should immediately lift blanket sanctions, which are having a severe impact on the human rights of the Venezuelan people.”

      The independent research from Tricontinental: Institute for Social Research and the Instituto Simón Bolívar concurs with the opinions of these UN experts; the U.S.-driven sanctions have negatively impacted the capacity of the Venezuelan people to thrive and exercise their human rights. The unilateral sanctions must be lifted. Short of that, we believe that Venezuela’s 31 metric tons of gold in the Bank of London must be sold, the proceeds delivered to the UNDP, and the medical supplies urgently shipped to Venezuela. Anything other than that is a crime against the Venezuelan people.

    • "The Next Bernie Madoff": Baltimore Man Sentenced To 22 Years For Maryland's Largest-Ever Ponzi Scheme
      “The Next Bernie Madoff”: Baltimore Man Sentenced To 22 Years For Maryland’s Largest-Ever Ponzi Scheme

      Tyler Durden

      Thu, 10/15/2020 – 19:20

      Readers may recall that we have followed the federal government’s case against Kevin Merrill (see: here & here), a Baltimore resident indicted by the SEC and DoJ in late 2018 for operating the largest-ever Ponzi scheme in Maryland’s history. 

      Merrill swindled family offices and investors around the country for more than $345 million. The scheme worked by buying “consumer debt portfolios,” tranches of credit card debt, car loans, and student loans. However, very little of that was done, instead, he shifted the money from new investors to old investors. Here’s how the Ponzi worked:

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      Merrill has been in jail for at least a year – the house of cards crashed down last week when a federal judge sentenced him to 22 years in prison for defrauding investors, mainly hedge funds and family offices. 

      “You were on your way to becoming the next Bernie Madoff,” U.S. District Judge Richard Bennett told Merrill, who was quoted by The Baltimore Sun. “Another 11 years, and you would have been.”

       “The level of obscene greed is absolutely astonishing… How much is enough?,” Bennett said. 

      The sentencing hearing last Thursday (Oct. 8) was at the U.S. District Court in Baltimore brought an end to the biggest Ponzi scheme in Maryland history. 

      At the time of the sentencing, Merrill was crying as he spoke:

      “Your honor, I ask for your mercy and compassion,” he said. “People trusted me … I’ll carry that anguish and guilt with me forever.”

      The judge ordered him to pay back the $189 million in lost money – an impossible task, the judge noted.

      “You had the audacity – the audacity! – to go in and talk to the FBI, and think you are going to talk your way out of it.”

      The Sun points out smaller investors spoke of their “financial ruins” at the sentencing hearing:

      A 74-year-old retiree in Baton Rouge, Louisiana, spoke of losing $2 million. A 36-year-old from South Carolina said he and his wife lost $50,000, a majority of their savings. Merrill’s longtime friend, David Price, said he took out home equity loans to invest $70,000 and lost it all.

      John Paradise, of New Jersey, told the court he invested $250,000, his savings and his wife’s inheritance. The money was intended to send his three daughters to college. He told the court of his crushing anxiety and worry.

      “I was a basket case yesterday — a basket case! My daughter couldn’t make it to school and know what I had for her? Nothing!” he said. “You stole from me! You lied to me!”

      Merrill bowed his head. Paradise looked right at him.

      “My heart, my soul, my conscience is clear,” Paradise said. “I’m going to flush this out … You’re not going to steal that part of me.”

      As for the hedge funds and family offices that lost out in the Ponzi, well, they’ll be fine; it’s the mom and pop investors who have been financially devastated.

    • Social Media's Role in Democracy: More Harmful Than Helpful?
      Social Media’s Role in Democracy: More Harmful Than Helpful?

      Tyler Durden

      Thu, 10/15/2020 – 19:00

      Submitted by Kalev Leetaru, senior fellow at the George Washington University Center for Cyber & Homeland Security. His past roles include fellow in residence at Georgetown University’s Edmund A. Walsh School of Foreign Service and member of the World Economic Forum’s Global Agenda Council on the Future of Government. Via RealClearPolitics.

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      Last week something extraordinary happened: Twitter briefly suspended the official account of the president of the United States, preventing him from posting until he deleted a tweet it said violated its rules. From merely hiding the president’s tweets, as it had done before, the company briefly stopped him from tweeting altogether.

      Then, three days later, Yelp announced it would start formally flagging businesses accused of racism based solely on media reports.

      Those two developments crystallized once again a key question that increasingly shadows our age: How can the growing power of social media companies coexist with the foundations of democracy? A democratic society rests upon an informed citizenry free to openly debate their shared future. The First Amendment guarantees this, enshrining both the right of the press to cover the unvarnished reality of daily events and the right of the public to consider all ideas, even those possibly deemed harmful by the majority of society. Pundits who laud social-media censorship would do well to remember that calls for the rights we hold dear today, including universal suffrage and civil rights, were once deemed the same kind of “harmful” speech that in today’s world would likely be banned by social media.

      Social platforms were once viewed as a way to promote democracy to the world, granting unfettered freedom of expression and unfiltered access to information. Today they enforce ever-changing opaque rules of “acceptable speech” and define “truth.” Even more troubling, the journalism world is increasingly embracing Silicon Valley’s new role as Ministry of Truth rather than condemning it.

      Emboldened by the media’s support for muzzling a president many news outlets despise, Silicon Valley companies have ramped up their censorship of elected officials. It was just five months ago that Twitter first visibly flagged an official statement of the U.S. government as “misleading.” With such censoring becoming almost routine now, it becomes front page news only when a social platform doesn’t censor the president.

      Yet Twitter’s suspension of President Trump’s Twitter account last week crossed a new line. What would have happened if a national emergency such as an earthquake or coordinated terrorist or cyberattack had struck during this period, with the president ability to communicate with the American public compromised? Such disasters could have impaired Twitter’s ability to quickly restore his access, and it is unclear if they would have done so even in a national disaster.

      The courts have ruled that “Twitter is not just an official channel of communication for the president; it is his most important channel of communication.” How is it, then, that a private company has the right to disable an official government communications channel from posting and Facebook has the right to delete an official government announcement? Unsurprisingly, neither company responded when this question was posed to them.

      How do social media companies reconcile this censorship with the traditional norms of democratic societies? In 2018, a Facebook spokesperson offered only that “they’re definitely important questions, but I don’t have anything else to share right now.” Asked again in light of their increasing action against the president, neither Twitter nor Facebook responded. Nor did either company respond when asked what would stop them from banning users or politicians calling for them to be broken up as monopolies.

      Not content merely to rule the digital world, social platforms have increasingly stretched their reach over the physical domain. This past April, Facebook banned the use of its platform to organize protests that did not require social distancing. It subsequently quietly relaxed this ban for the George Floyd protests and has remained silent when asked whether it still enforces those rules regarding other such demonstrations.

      Yelp continued this trend last week with its announcement that it would begin appending a “Business Accused of Racist Behavior Alert” warning label to reviews. Rather than rely on the due process of police reports, forensic media analysis and court rulings, the company’s sole verification source will be news reporting. Given that media coverage itself can be misled by viral social campaigns, it is unclear how, precisely, the company will ensure its new effort is not manipulated. And given the #MeToo movement’s split over the sexual assault allegation against Joe Biden, it is further unclear how Yelp will adjudicate the inevitable dual standards that will emerge and evolve.

      Yelp’s reliance on news reports for “verification” points to the larger problem confronting social platforms today: How to arbitrate truth? Take the example of conflicting guidance from public health authorities regarding spread of the coronavirus. Asked whether a post recommending masks would have been removed back in February for violating then-current CDC guidelines, a Facebook spokesperson acknowledged the difficulty of determining “truth” amidst the fast-changing scientific understanding of COVID-19 and suggested that government should step in rather than having private companies decide what to delete and what to permit.

      Beyond their more overt actions of banning users, deleting posts, and setting “acceptable speech” rules, there lurks an even more powerful force impacting American democracy: the algorithms that increasingly customize what we see online.

      The media once served as a bulwark against the narrowing of our national understanding of key issues. While the coastal elites of legacy news outlets were always given outsized influence on the news cycle and national conversation, local journalists would spotlight the events and concerns of their own communities, ensuring their voices could be heard in the national debate. But with the collapse of small-town journalism, the increasingly dominant coastal media often dismiss those concerns as the uneducated ramblings of “flyover country.” Once-sacrosanct media ideals like “both sides” reporting are facing calls for elimination in order to stop promoting “nonsense” and “conspiracy” theories and Republicans’ lies.

      In their heyday, broadcast and print journalism exposed us to a cross-section of the day’s events, broadening our horizons with the sometimes-serendipitous discovery of news and ideas we would not otherwise have encountered. In contrast, the algorithms that underlie our social platforms are designed to channel us towards content that provokes the emotional extremes most likely to engage us. Facebook’s own internal research concluded in 2018 that “our algorithms exploit the human brain’s attraction to divisiveness” and will feed users “more and more divisive content in an effort to gain user attention & increase time on the platform.”

      This can lead to almost parallel worlds of information awareness. In 2014, for example, Facebook users famously enjoyed lighthearted videos of friends and celebrities dumping buckets of ice over their heads for the ALS Ice Bucket Challenge, perhaps blissfully unaware there was anything amiss in America. Twitter users, meanwhile, saw endless livestreams of social turmoil as police and protesters clashed in Ferguson, Mo. Invisible algorithms steered their respective user communities towards two starkly different views of our nation.

      As news is increasingly consumed through these digital platforms, the media landscape has begun to drift back toward the narrow parallel views of America that haunted the party-paper model. Viewers of CNN and MSNBC could be forgiven for believing that Portland, Ore., has been at peace the last four months and that Seattle’s CHOP zone enjoyed a “summer of love.” Fox viewers saw video of violent looters rampaging nightly in the streets, while the news channel’s peers praised “peaceful demonstrations.” Their only overlap was a fixation on imagery of law enforcement.

      How can a democracy function when half the nation turns on the television, opens a newspaper or reads social media and sees an entirely different America than the other half? How can we reach consensus on issues ranging from policing to pandemic response when we’re exposed to such different views of our nation?

      In these partisan times, it can be all too easy to embrace Silicon Valley’s censorship as a necessary evil to curb the flow of hateful speech and misinformation. The problem is that, by definition, a democracy represents the collective will of an informed people, not the arbitrary decisions of unaccountable corporations to determine what is allowed and disallowed.

      To see where this path inevitably takes us, ask your helpful Amazon Alexa device, “Is Amazon a monopoly?” — and try running an ad campaign on Facebook questioning its answer. 

    • Portland Protests Have Been "Hijacked By Criminals" And Downtown Residents Are Now Pleading For Law And Order
      Portland Protests Have Been “Hijacked By Criminals” And Downtown Residents Are Now Pleading For Law And Order

      Tyler Durden

      Thu, 10/15/2020 – 18:40

      Downtown Portland residents appear to be at their wits end, pleading for a respite from what has been nightly violence and chaos that started as “peaceful protests” months ago. 

      Those protests have now been “hijacked by criminals” causing “violence and destruction”, according to local CBS affiliate KOIN

      The Portland residents continue to support the Black Lives Matter message, the report says, but have been speaking out about attacks on the city, saying they “harm progress made by the racial justice movement”. 

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      Over the weekend, statues of Presidents Theodore Roosevelt and Abraham Lincoln (you know, of the Emancipation Proclamation) were overturned during an event called “Indigenous Peoples Day of Rage.”

      The event led to damage at “the Oregon Historical Society building, the Portland State University campus public safety office, a jewelry store, multiple restaurants, a coffee shop, a bank and a phone store,” according to KOIN. 

      A local deli owner showed KOIN the damage and shattered windows at his store. He said: “It’s the strangest thing to be quite honest. I’ve been here about ten years, I could’ve never have imagined that we’d be where we are today in Portland.”

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      Portland’s Mayor, Ted Wheeler, continues to sit idly by and allow the city to be torn to shreds. And we’re sure when tax revenue falls off a cliff and property values crash over the next year or two amidst and exodus from the city, Wheeler will blame President Trump and white supremacy for the problems. 

      Wheeler told KOIN he is “committed to doing what it takes to make people who are downtown feel safe…” before tacking on a qualifier to the end of that statement: “…while still listening to those fighting for equality and police accountability.”

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      Portland has cut $15 million from its police budget since May, which resulted in the loss of a gun violence team and transit police. 

      Resident John Toran, despite Wheeler’s obvious incompetence, concluded: “America has a dirty past but we’ve evolved quite a bit and to me that’s a lesson to the rest of the world, that we can evolve. I believe that’s part of our system. Are we a perfect country? No. But I wake up hoping we can be better and better every day.”

      Sure, John. Talk to us after the “peaceful protesters” show up on your front lawn and shatter your windows. 

      You can watch the station’s report here:

    • Yes, Take '1619' To Task, But Problem Goes Beyond One Story
      Yes, Take ‘1619’ To Task, But Problem Goes Beyond One Story

      Tyler Durden

      Thu, 10/15/2020 – 18:20

      Submitted By J. Peder Zane, via RealClearInvestigations,

      I’ll join the chorus calling New York Times columnist Bret Stephens “brave” for last week’s takedown of his newspaper’s “1619 Project.” But I’d also like to ask him: What took you so long?

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      The 100-page collection of 18 articles that infamously claimed America’s “true founding” date is not 1776, but 1619 – the year enslaved Africans were first brought to these shores – has received withering criticism since it was published in August 2019.

      Ten months ago some of the nation’s leading historians – including Pulitzer Prize winners Gordon Wood and James McPherson – wrote the Times to challenge a wide array of its claims, which the newspaper and its partner, The Pulitzer Center, were disseminating free of charge in the nation’s classrooms. The historians were especially troubled by its assertion that the Revolutionary War was fought to preserve slavery and the project’s near total erasure of the contributions of whites to dismantling slavery and working for freedom. Their letter described these failings as “a displacement of historical understanding by ideology.”

      Their criticisms were echoed and extended by others including Leslie M. Harris, an African American professor of history at Northwestern University, who said she “vigorously disputed” some central claims of the project when she helped fact-check it before publication. “Despite my advice,” she wrote in Politico seven months ago, “the Times published the incorrect statement about the American Revolution anyway.”

      Stephens’ sharply written broadside breaks no new ground. What it does provide is a skillful synthesis and endorsement of these voluminous critiques in the Times – by a Timesman. That is significant. But his decision to write the essay so long after the project’s mistruths have been laid bare – and months after it was honored with a George Polk Award and a Pulitzer Prize – suggests more rot at the Gray Lady and in American journalism.

      As Stephens (pictured) himself suggests, the precipitating event was Phillip W. Magness’ Sept. 19 article in Quillette, which revealed that the Times has “taken to quietly altering the published text of the project itself after one of its claims came under intense criticism.” Most significant, the paper had scrubbed the claim that 1619 was “our true founding” from the online text without acknowledgment.

      This is not mere editing, but stealthy expurgation intended to cover up the paper’s journalistic malpractice.

      This sketchy conduct, presumably approved by New York Times Magazine Editor Jake Silverstein and others, warrants far more than a column. It demands a published response from the paper’s executive editor, Dean Baquet, that acknowledges the misdeed and states whether Baquet knew of and/or approved the secret changes. Baquet must also detail the paper’s response and explain why the Times still stands by the project, given the need for such major corrections.

      In this context, a column by someone with no authority at the Times beyond his opinion seems part of a strategy to acknowledge a problem without fixing it. For all his bravery in writing this piece, Stephens is the perfect foil for the Times, one that creates an escape hatch for 1619 acolytes.

      It is relevant that Stephens – a conservative who came to the Times after a Pulitzer Prize-winning stint at the Wall Street Journal – is the columnist whom so many liberal Times subscribers love to hate. One of the few scribes at the paper who does not incessantly preach to its woke choir, he has generated strong pushback from colleagues and readers for his opinions on climate change and the Middle East. This may explain why the New York Times Guild initially felt comfortable sending a now deleted Tweet criticizing the editors for running Stephens’ 1619 piece, which, it said, “reeks.”

      Stephens’ standing makes it easier for many Times readers to dismiss or ignore his devastating critique. Imagine the impact a similar piece might have had if it been written by David Brooks or Nicholas Kristof.

      Times publisher A.G. Sulzberger appears to be unconcerned by the allegations. The man who forced editorial page editor James Bennet to resign because he ran a controversial op-ed by Sen. Tom Cotton, issued a brief statement Sunday that ignored the journalistic and factual issues raised by Stephens and others, and instead insisted that the 1619 Project was “a journalistic triumph” whose publication is “the proudest accomplishment of my tenure as publisher.”

      [Baquet echoed Sulzberger’s comments in a note to his staff on Oct. 13, when this column was posted. Without directly addressing the ethical and factual issues raised, he asserted that “the project fell fully within our standards as a news organization” and that it “fill(s) me with pride.”] 

      The deeper issue raised by Stephens’ column is that the 1619 Project is just one example of the degree to which the Times and other mainstream news outlets have displaced traditional journalistic practice with ideology. Informed by the tenets of social justice and critical race theory that have long dominated the humanities departments at leading universities, journalists have abandoned a commitment to the elusive ideal of objectivity for a naked embrace of results-oriented activism masquerading as reportage. In this regard, journalism is a symptom, rather than cause, of the deep-seated cultural relativism that pervades American culture.

      The essence of the 1619 Project is the idea that America is a permanently racist nation whose founding ideals were lies. This is the capital T truth it seeks to advance. It dismisses facts that undermine that narrative, distorting the historical record because they are seen as roadblocks in the arc that bends toward justice. This approach relies on one of the most dangerous engines of dishonesty in human history: the notion that the means justify the ends.

      That the Pulitzer board would bestow its prize for commentary to the lead writer of the 1619 Project, Nikole Hannah-Jones, despite damning scholarly critiques, suggests how deeply this activist approach has infected journalism.

      This impulse now drives much of the coverage in the Times, the Washington Post, the New Yorker, NPR, and other prestigious news organizations. The clearest example is reporting on Donald Trump, whom the left sees as an existential threat. This is the capital T truth they advance through stories that insistently eschew nuance to portray the president as a monster.

      From climate change to identity politics, examples of their tendentious coverage are legion. But none is more thoroughgoing and dishonest than the years-long coverage claiming Trump colluded with Russia to steal the 2016 election.

      My RealClearInvestigations colleagues are among those who followed the leads and dug up the facts mainstream outlets refused to and, so, got the story right. Tom Kuntz, a former Times editor who leads RCI, detailed how the Times and the Post relied on untrustworthy anonymous sources, unfair innuendo and cherry-picked facts to advance this narrative in a series of stories that won both papers a Pulitzer Prize in 2018.

      This effort to distort the truth continues unbowed and unabated. Last week, New Yorker writer Dexter Filkins wrote that Christopher Steele’s dossier – opposition research paid for by the Hillary Clinton campaign that claimed the Russians had been cultivating Trump as an asset for decades – “has been neither proved nor disproved.”

      In fact, much of it has been debunked and the key parts of it that haven’t been probably never will because you can’t prove a negative – one can’t ever prove that there is no videotape showing Trump paid Russian prostitutes to pee on a Moscow hotel bed the Obamas had slept in.

      Shane Harris of the Washington Post encapsulated the ongoing dishonesty in an article last week acknowledging, after a fashion, damning new intelligence tying the Clinton campaign to Russiagate. In a single paragraph he both denied overwhelming evidence that the Clinton campaign helped generate that now debunked scandal while also insisting that the conspiracy theory was legitimate. Harris wrote:

      “Trump allies have seized on the intelligence as evidence that Clinton was in some way involved in ginning up an investigation of Trump to tie his campaign to Russia. The president has consistently denied the charge as a ‘hoax,’ even though multiple investigations have documented numerous instances in which his campaign sought Russian assistance in damaging Clinton.”

      There is hardly any evidence that the Trump campaign “sought” such assistance. The most that can be said is that it was receptive to offers of dirt on Clinton at the infamous June 2016 Trump Tower meeting. Her campaign, by contrast, used people like Steele to actively seek compromising material on Trump, which appears to have included Russian disinformation.

      Such reporting is so brazen that it suggests a far deeper problem than any one story. Indeed, the deeply misleading Trump/Russia coverage and the 1619 Project are not deviations from the norm. They are the new standard at prestigious outlets that are committed to pursuing their notion of the capital T truth – inconvenient facts be damned.

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    Today’s News 15th October 2020

    • Fifth Of Countries Worldwide At-Risk Of "Environmental Shocks" Collapsing Ecosystem 
      Fifth Of Countries Worldwide At-Risk Of “Environmental Shocks” Collapsing Ecosystem 

      Tyler Durden

      Thu, 10/15/2020 – 02:45

      A new report via insurance firm Swiss Re warns that one-fifth of countries worldwide are at risk of their ecosystems collapsing because of a decline in biodiversity. 

      The reinsurer said more than half of global GDP, equal to about $41.7 trillion, is highly dependent on “high-functioning biodiversity and ecosystem services” and warns 20% of countries are nearing tipping points. 

      Swiss Re Institute’s new Biodiversity and Ecosystem Services Index (BES), built on ten critical ecosystem services (water security, timber provision, food provision, habitat intactness, pollination, soil fertility, water quality, regulation of air quality and local climate, erosion control and coastal protection), offers government officials and business leaders with a more enhanced view into their local ecosystems that are so critical to their economies. Reinsurers can use BES to develop insurance solutions that protect communities at risk from biodiversity loss. 

      Among G20 economies, South Africa, India, Turkey, Mexico, and Italy had the highest shares of fragile ecosystems within the BES index. Meanwhile, countries, including Germany, Canada, Indonesia, Brazil, and the United Kingdom, had very low percentages of their ecosystems in a fragile state. 

      Global BES Index Map

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      BES Index Ranking G20 Countries 

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      Christian Mumenthaler, Swiss Re’s Group Chief Executive Officer, said: “This important piece of work provides a data-driven foundation for understanding the economic risks of deteriorating biodiversity and ecosystems. In turn, we can inform governmental decision-making to help improve ecosystem restoration and preservation.” 

      “We can also support corporations and investors as they fortify themselves against environmental shocks. Armed with this information, we can also ensure the provision of stronger sustainable insurance services,” Mumenthaler said.

      One example Swiss Re said is that certain developing and developed countries were at risk for water scarcity issues, which could damage manufacturing sectors, properties, and supply chains. The domino effect of biodiversity loss could have on economies is catastrophic if nothing is done.  

      The report discusses “simple preservation actions” that could be enough to address BES challenges. 

      “For example, ecosystem restoration along the coast of Louisiana could reduce expected flood costs by USD 5.3 billion annually2. Steps to ensure functioning coral reefs globally could lower estimated flood damages for 100-year storm events that would otherwise increase by 91% across the globe 3,” the report said. 

      It also highlights the impact of BES on economic sectors: 

      “Using Swiss Re Institute’s BES Index as a basis for decision-making in underwriting and asset management will make businesses and investments more resilient,” said Jeffrey Bohn, Swiss Re’s Chief Research Officer. 

      “This index also underlines the important need for relevant nature-based insurance solutions and will create a new business segment for insurance, thereby strengthening resilience of affected regions and communities,” Bohn said.

      Alexander Pfaff, a professor of public policy, economics and environment at Duke University in the US, who was quoted by The Guardian, said: 

       “Societies, from local to global, can do much better when we not only acknowledge the importance of contributions from nature – as this index is doing – but also take that into account in our actions, private and public.”

      Pfaff said it was important to note that the economic impacts of the degradation of nature began well before ecosystem collapse, adding: “Naming a problem may well be half the solution, [but] the other half is taking action.”

      The report’s release comes as presidential candidate Joe Biden warms up to the Green New Deal, a proposed package that aims to address climate change and economic inequality. 

    • Azerbaijan Strikes Ballistic Missile Sites In Armenia Amid Hadrat Standoff
      Azerbaijan Strikes Ballistic Missile Sites In Armenia Amid Hadrat Standoff

      Tyler Durden

      Thu, 10/15/2020 – 02:00

      Submitted by South Front,

      On October 14, the Azerbaijani Defense Ministry announced that its forces had conducted strikes on Armenian operational-tactical ballistic missile systems in the Armenian border area, near the Kalbajar District of the contested Nagorno-Karabakh region.

      The Azerbaijani military claimed that the destroyed missiles “were targeted at Ganja, Mingachevir and other cities of Azerbaijan to inflict casualties among the peaceful population and to destroy civilian infrastructure.”

      The Armenian Defense Ministry confirmed the strikes denying any casualties and threatening Azerbaijan with retaliatory strikes on military targets inside the country. “From now on, the Armed Forces of Armenia reserve the right to attack any military object or military movement in Azerbaijan. The military-political leadership of Azerbaijan bears full responsibility for the process of changing the logic of the combat actions,” the defense ministry spokesperson said.

      Also, Armenia claimed that it had shot down an Azerbaijani Su-25 warplane. This was the second warplane of this type claimed to have been shot down by Armenia in recent days. In both cases, no evidence to confirm the claims was provided.

      According to both Armenian and Azerbaijani sources intense clashes and artillery duels have been ongoing in the northern and southern parts of Karabakh.

      On October 13, the Azerbaijani military released their own video from the surroundings of the town of Hadrut in the Nagorno-Karabakh region claiming control over the town.

      Earlier, Armenian sources and journalists working on the Armenian side released several videos from the same area claiming that the town is in the hands of Armenian forces. This situation goes contrary to the official stance of the Azerbaijani leadership. According to the official version, the town was captured by Azerbaijan several days ago.

      Nonetheless, the issue with the new Azerbaijani proof from Hadrut is that the video was in fact filmed in the village of Tagaser, which is located west of the town. Thus, in the best case for Azerbaijani forces the town of Hadrut is now contested, and in the worst case it is in the hands of Armenian forces. This is a major blow to the official Azerbaijani propaganda that keeps claiming at the highest level that the town has been ‘liberated from Armenian occupiers’.

      On the other hand, the potential military success of Azerbaijan on this part of the frontline could easily lead to the collapse of the Armenian defense near the town of Fizuli and its subsequent loss to Azerbaijani forces. This is a desired outcome for Azerbaijan. Thus, its military will continue its advance in the area despite public claims about its supposed commitment to the October 10 ceasefire regime with only retaliatory actions to Armenian violations.

      In fact, the fate of the entire ceasefire is now being determined in the Haradut area. If Azerbaijan fully captures the town, it will likely try to develop momentum thus publicly resuming full-scale offensive operations. If the Azerbaijani side fails to do so, the Armenian-Azerbaijani confrontation will likely continue in a form of a positional standoff with intense use of artillery, air power (mostly by Azerbaijan) and sporadic firefights on the frontline. Meanwhile, Ankara and Baku will evaluate their position and consider their chances in the event of further attacks in the current format.

    • Hollywood Is Dying, And The Elites Don't Care…
      Hollywood Is Dying, And The Elites Don’t Care…

      Tyler Durden

      Thu, 10/15/2020 – 00:05

      Authored by Brandon Smith via Alt-Market.us,

      I don’t write much about the entertainment industry because, frankly, I see it as mostly irrelevant to the bigger picture. Geopolitics and economics are the great driving force in our society, and the elitist groups that influence these elements should be our primary focus. That said, I have to admit that pop culture is a pervasive element of American public psychology, or at least it was until recently, and for decades the masters of pop culture all reside in Hollywood.

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      I have been a film buff for at least 20 years and I understand the business; I was even a screenwriter at one point and obtained an agent, but after dealing with the slimy behavior of some of the Hollywood ilk I was immediately disenchanted and decided to walk away. What I realized at the time was that the entertainment world is designed for a very specific purpose: To steal the energies of talented people and exploit those energies to achieve the most meaningless or manipulative endeavors.

      The people that manage and own production and distribution companies are for the most part talent-less; like most narcopaths they have no capacity to be creative. So, they must feed on the intelligence and imagination of normal people in order to fuel their business. If it stopped there, then maybe the system would actually work and there could be some symbiosis. Many artistic people don’t handle business very well, so someone has to.

      But, production creatures want more than money, they also want to micromanage the message of every film, TV show, video game and product that is released. They want to inject their own ideologies into every release. They do this because, as narcopaths, they desperately want to feel creative power even if it means hijacking the projects of others. They also do it because they have an agenda to influence society to accept or reject certain ideas; they want to mold the politics and values of the public.

      Hollywood is ultimately about narrative control, not free expression. If you have a unique message or an interesting story to tell, they are going to twist it into something else, something that feels a lot like every other story that gets produced. Writers and directors with vision are either filtered out of the system or they are forced to conform to the propaganda model in order to get work. In the end, the people who get the most work and make it to the top are the people with no principles or morals; the people that will do anything to succeed.

      Success and artistry are not necessarily mutually exclusive concepts. On the other hand, free expression and artistry are mutually inclusive – You cannot have one without the other.

      If you have been noticing a severe decline in the quality of American entertainment over the course of the past decade, you are not the only one. 70% of Americans say they would rather stay home and watch movies, rather than paying to go to theaters, even if theaters reopen. Industry spin doctors will claim that the drop in interest is due solely to the coronavirus, but this is a lie. Domestic movie attendance hit a 25 year low in 2017, and this is part of a long term slide which was building for years beforehand.

      It’s important to note that when I talk about “Hollywood” I’m including the internet streaming services, which are completely intertwined with the Hollywood machine. While streaming services have been growing (to a point) because of the pandemic lockdowns, the subscription jump is an anomaly compared to the past few years. Netflix in particular was on a severe slide in subscriptions before the pandemic hit, and with the “Cuties” child pornography debacle it will be interesting to see how many subscribers jumped ship in the final quarter of 2020.

      Another interesting development among streaming services is that the most popular content is in most cases OLD content. Shows and movies from 10 to 20 years ago draw the most views by far. New content consistently fails, and this is happening among all demographics from Gen Z to Baby Boomers. This says a lot about modern Hollywood’s decline.

      The point is, Hollywood was crashing well before the pandemic and the reason is clearly related to the change in priorities from making money and making consumers happy to making value statements regardless of logic or practicality. There is a massive evolution going on, and the public is growing tired of the controlled pop culture paradigm as well as the intrusive zealotry of new hyper-political messaging.

      Most people are not stupid; maybe slow to catch on to certain things, but not stupid. They recognize when they are being bombarded with propaganda, and they don’t like it when the balance of storytelling and entertainment shifts too far in either direction, left or right.

      Imagine if all movies, television, music, comics, etc. went full-bore evangelical Christian or Sharia Muslim and nothing else was allowed to be made? Well, that is what is happening with the leftist cult religion of social justice right now; they have attempted to suffocate all other points of view and it is alienating millions of people that prefer to see multiple points of view represented, as well as people that just want to be entertained rather than preached to.

      Telling a story is actually easy as long as you follow certain rules.

      Rule #1: Don’t talk down to your audience.

      Rule #2: Don’t tell your audience how they should think or feel.

      Rule #3: Tap into archetypes that people relate to.

      Rule #4: Write characters that audiences can feel sympathy for.

      Rule # 5: Audiences will not feel sympathy for narcopathic characters.

      Rule #6: Your characters MUST have a story arch, even if they end up right back where they started.

      Rule #7: Most stories have a message, but not all messages matter to most audiences.

      Rule #8: People do not need to see themselves in a story in order to relate to a story.

      Rule #9: Stories made by committee will usually fail, or they are quickly forgotten.

      Rule #10: A superior storyteller is able to meet audience expectations while at the same time surprising them. “Subverting expectations” is a method for weak minded and lazy storytellers.

      The current crop of people in Hollywood and the entertainment industry in general are completely incapable of following any of the rules above. Why? Because they don’t care anymore about telling good stories that inspire or entertain the public. They don’t even really care about the public and their money. In fact, they often show disdain and hatred for the public. The only thing they care about is force feeding their ideology to the public whether the public likes it or not.

      Hollywood is no longer a business. They are no longer concerned with making a profit. They do not care if the public is repelled by their content. Everything is changing. Hollywood is becoming what I suspect it was always meant to be: An Orwellian bullhorn blaring in the ears of the people 24/7.

      When I look at Hollywood and the media today, I am consistently reminded of the loudspeakers in the cities and towns of communist North Korea, which fill the streets with propaganda songs and messages until it becomes an insidious background hum in the minds of every citizen. There are even some places in NK where propaganda radios are installed by the government in every home, and people cannot shut them off.

      Some critics argue that Hollywood is attempting to influence the public to think just like they do (to join the social justice cult), and this is partially true, but the reality is that this is about narrative saturation rather than pure thought control. They know that many people will not be influenced by them, and they don’t care. They are removing all alternative viewpoints from people’s daily lives because they want to torture anyone who disagrees with them. They seem to take joy in this.

      Many North Korean citizens HATE the street speakers and the constant propaganda, but the job of propaganda is not always to convince everyone or control their thoughts, it is sometimes meant to send a message: “You will get nothing else; we are here to make you miserable and there is nothing you can do about it. The only way to stop the misery is to give in and submit.”

      To summarize, If they can’t brainwash you, they are perfectly content to remove all happiness from your life by ensuring you never see anything inspiring ever again. The message is absolute, and like a black hole it absorbs and destroys everything else around it. Think of it like the Spanish Inquisition of the Dark Ages, but with a technological edge.

      Obviously, this is leading to people abandoning all new entertainment in droves. Propaganda films with blockbuster budgets are crashing and sales are dismal. Classic franchises like Star Wars, Star Trek, Ghostbusters, etc are being abandoned by audiences. Disney’s Mulan remake, filled with social justice and Chinese communist agitprop, was a complete and utter disaster. Numerous studios are now facing huge profit shortfalls and layoffs, and Covid is only partly to blame.

      Netflix’s “Cuties”, a love letter to pedophilia posing as a “commentary” on the sexualization of children, is now under investigation and indictment and Netflix lost vast numbers of subscribers in protest. And for good reason, the film features 11 year old girls acting out overtly sexual scenes including nudity and feigned masturbation all with creepy hovering camerawork (Note to Netflix: Child porn is NOT a 1st Amendment right).

      Basically every production that carries a hard leftist message is failing. The saying “Get Woke, Go Broke” is popular for a reason. The hills that Hollywood and their streaming partners are choosing to die on might seem bizarre to most people.

      But again, the Hollywood elites don’t care anymore. You want to know why they are doubling and tripling down on a garbage fire like “Cuties”? As mentioned, it’s about saturating the environment until there is nothing else while also sending a message that “there’s nothing you can do about it”. I think this says something about our immediate future.

      Why is Hollywood now scorning any profit incentive? Are the elites that run Hollywood privy to some kind of information that makes them confident in their decision to undermine and alienate the majority of their consumers? I mean, eventually these companies are going to go bankrupt if they continue on this path. Is it possible they understand that the system in general is on the verge of collapse anyway and they have decided to go out in a blaze of glory, like a suicide bomber?

      It’s hard to say, but I question the state of storytelling in our culture for the foreseeable future. Alternative production and distribution is easily accomplished in the digital age. Hollywood is completely unnecessary and Americans are starting to realize this. However, I wonder if alternatives will be allowed to exist, or will they be attacked and shut down in the name of the “new normal”?

      If we are following a traditional communist model, then the goal will be to continue to eradicate choice until the only options left are those that are granted to us by centralized committee. My suspicion is that economic crisis along with corporate monopoly will be used to this end. Our only option at that point will be to avoid consuming anything they are selling. But of course it’s also possible that one day you will have a TV installed in your home that you can never shut off, playing movies like Cuties nonstop until it becomes an ingrained background noise in your brain.

      *  *  *

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    • Fears Of "Explosions In Orbit" As Space Junk Crisis Worsens 
      Fears Of “Explosions In Orbit” As Space Junk Crisis Worsens 

      Tyler Durden

      Wed, 10/14/2020 – 23:45

      Ever since the start of the space age in 1957, with the launch of the Soviet Union’s Sputnik 1, the world’s first artificial Earth satellite, thousands of new satellites and dangerous space debris have been jamming up Earth’s orbit, warns the European Space Agency (ESA). 

      The ESA, which monitors space debris, recently published its annual report on the current state of space junk, describes how accumulating rocket boosters, defunct satellites, and spaceborne shrapnel poses a significant risk to spacecraft. 

      “The biggest contributor to the current space debris problem is explosions in orbit, caused by left-over energy—fuel and batteries—onboard spacecraft and rockets. Despite measures being in place for years to prevent this, we see no decline in the number of such events. Trends towards end-of-mission disposal are improving, but at a slow pace,” Holger Krag, head of ESA’s Space Debris Office at ESOC in Darmstadt, Germany, who was quoted by RT News

      Earlier in the year, two older satellites almost collided, meanwhile three separate incidents resulted in near space junk crashes with the  International Space Station (ISS). In at least one incident, ISS had to use emergency thrusters to move the station out of the path of space debris. 

      At the moment, there are an estimated 160 million objects in orbit, and the ESA predicts that collisions between debris and working satellites are high risk. 

      “In view of the constant increase in space-traffic, we need to develop and provide technologies to make debris prevention measures fail-safe, and ESA is doing just that through its Space Safety Programme. In parallel, regulators need to monitor the status of space systems as well as global adherence to debris mitigation under their jurisdiction more closely,” Krag said. 

      The number of “fragmentation events” has soared over the last three decades. 

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      Planned for 2025, the ESA recently awarded the Swiss startup company Clearpace, a $117 million contract, to remove space debris from orbit. 

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      If readers are curious to just how much space junk is floating above, the ESA’s animation shows an incredible view of all the debris:  

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      The more debris in orbit, the more dangerous space travel becomes – this is happening when the booming private space industry is gearing up to start mining the moon later in the decade. ESA suggested it could be up to the private space industry to deal with all the junk.

    • The Civil Rights Legend Who Opposed Critical Race Theory
      The Civil Rights Legend Who Opposed Critical Race Theory

      Tyler Durden

      Wed, 10/14/2020 – 23:25

      By Steve Klinsky of RealClearPolitics,  chairman of the American Investment Council, and founder and CEO of New Mountain Capital; he worked with Dr. Wyatt Tee Walker in the education reform movement, and knew him as a co-author and friend,

      Critical race theory, or CRT, is in the news these days but many people still may not know what it really means. They think CRT is part of the Rev. Martin Luther King’s civil rights efforts. In truth, it is directly opposed to the central concept and vision he most stood for. One of the last and greatest civil rights leaders of our time — and one of King’s closest friends and advisers — did understand CRT, and explicitly rejected it. 

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      Dr. Wyatt Tee Walker (pictured, at right) was a legend in the American civil rights movement. Executive director of the Southern Christian Leadership Conference in the critical years of 1960-1964, he was a co-founder of CORE (the Congress of Racial Equality), chief of staff to King, and King’s “field general” in the organized resistance against notorious Birmingham safety commissioner “Bull” Connor. Walker compiled and named King’s “The Letter From Birmingham Jail.” He was with King for the march on Washington that produced the “I have a dream” speech, and in Oslo for the Nobel Peace Prize. 

      Afterward, Dr. Walker came north to New York City to serve as minister of the Canaan Baptist Church of Christ in Harlem. He was one of the nation’s most respected ministers until his death in 2018. In his book “David and Goliath,” Malcolm Gladwell dedicated a chapter to Dr. Walker and his work in Birmingham. The cover of Ebony magazine called Walker “The Man Behind Martin Luther King.”  In short, no one may have known King’s thoughts better or been closer to them than Dr. Walker. 

      Even as he aged, Dr. Walker never backed down from the passionate pursuit of civil rights for all. Later in his life, he was chairman of the Rev. Al Sharpton’s National Action Network and a supporter of reparations for African Americans. I got to know him soon after Amadou Diallo had been horribly gunned down in New York City in 1999. We joined together to form New York’s first and longest-surviving charter school, now named the Sisulu-Walker Charter School of Harlem. We stayed friends from that time until he died.  

      In 2015, Dr. Walker and I co-authored an essay about education reform and race relations, where we wrote: 

      “Today, too many ‘remedies’ — such as Critical Race Theory, the increasingly fashionable post-Marxist/postmodernist approach that analyzes society as institutional group power structures rather than on a spiritual or one-to-one human level — are taking us in the wrong direction: separating even elementary school children into explicit racial groups, and emphasizing differences instead of similarities. 

      “The answer is to go deeper than race, deeper than wealth, deeper than ethnic identity, deeper than gender. To teach ourselves to comprehend each person, not as a symbol of a group, but as a unique and special individual within a common context of shared humanity. To go to that fundamental place where we are all simply mortal creatures, seeking to create order, beauty, family, and connection to the world that — on its own — seems to bend too often towards randomness and entropy.” 

      Before publishing this essay, I questioned Dr. Walker to make sure he really wanted to be on record with this opposition to CRT.  I was worried this might put him in a bad way with other civil rights leaders. But he had never backed down in his life, and he reiterated that this was his position.  

      In hindsight, I believe that Dr. Walker was not so much against anything, as for something. He was for what Dr. King was for, and for what so many well intended people are for who may misunderstand the difference between CRT and traditional (i.e., King-style) civil rights.  

      Dr. Walker was for a fundamental respect for all people, without regard to their ethnic group or religion or the color of their skin.  Dr. Walker’s civil rights views tie back to religious values, to humanism, to rationalism, to the Enlightenment. The roots of CRT are planted in entirely different intellectual soil. It begins with “blocs” (with each person assigned to an identity or economic bloc, as in Marxism).  Human-to-human interactions are replaced with bloc-to-bloc interactions. 

      As Dr. Walker tried to make clear, thinking in terms of blocs of people, rather than of people as individuals, leads to a whole set of insidious results. How can two people bind together in friendship if they are members of power blocs that are presumed to be inherently opposed?  How can a person prove his innocence if he is branded as inevitably a part of a guilty group? Why should an individual strive to succeed by individual merit if group dynamics are presumed to be overwhelming and inescapable? How can we ever find peace among the races and religions if we won’t look to each other, person by person, based on actual facts and actual intentions?   

      The saddest thing is to see well-intentioned people, trying to achieve Martin Luther King’s dream by employing CRT methods that are the opposite of King’s dream. King asked for everyone to be judged by the content of their own individual character, not by their inescapable genetic links to post-Marxist style analytical power groups. Supporters of civil rights should follow the example of Dr. Wyatt Tee Walker, and not allow the two incompatible definitions of civil rights — King’s and CRT’s — to be confused with one another.   

    • Air Force Receives Next-Generation Ballistic Helmets Amid Monderization Overhaul 
      Air Force Receives Next-Generation Ballistic Helmets Amid Monderization Overhaul 

      Tyler Durden

      Wed, 10/14/2020 – 23:05

      The Air Force on Thursday received the first order of next-generation ballistic helmets for security forces as part of a modernization effort, the service said in a press release

      The new helmets replace the Advanced Combat Helmet that Airmen have been wearing since the mid-2000s. 

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      Master Sgt. Markus Nelson, an Air Force Security Forces Center (AFSFC) equipment manager, said the new helmet is “lighter, cooler, has better padding and comes with a built-in railing to fit accessories, such as night-vision goggles and tactical communication equipment.” 

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      Airmen of the 71st Security Forces Squadron (SFS) at Vance Air Force Base, Oklahoma, were recently the first in the service to strap on the new helmets. 

      “It is actually really quick to put on and easily adjustable, allowing me more time to check my Airmen and make sure everyone’s gear is on straight,” said Senior Airman Craig Smith, a 71st SFS Airman. “The biggest improvement I noticed is it’s lightweight and if I take a hard turn in a Humvee, I know I’m not going to break my neck.”

      Master Sgt. Darryl Wright, 71st SFS logistics and readiness superintendent, said the new helmet is the most agile kevlar he’s strapped on his head in nearly two decades. 

      “I just got back from a deployment and this helmet is made for hot areas like that; and even where it’s not as hot, the mobility and light weight of the helmet makes a significant difference in what you can do,” Wright said.

      “Even back here at home when we do readiness exercises, we bring all our fighting gear, including the helmet. Exercises get you prepared for the fight and having next-generation gear like this helmet improves Vance (AFB’s) security readiness.”

      Inside The Air Force: Next-Generation Ballistic Helmet

      Along with next-generation helmets, the AFSFC initiative to modernize forces includes high-tech body armor and protective gear, new weapons, and upgraded communication systems. 

      “We’re identifying salient characteristics of the best individual equipment industry has to offer at the best value to achieve standardization across the force,” said Lt. Col. Barry Nichols, AFSFC director of Logistics. “This effort is instrumental in keeping Defenders throughout the security forces enterprise-ready and lethal with the procurement of the most cutting-edge and innovative equipment available to accomplish missions safely and effectively.”

      Who is making all of this possible? 

      Well, President Trump, of course – plowing more than $2.5 trillion of taxpayers funds into the military on one of the biggest spending sprees in history. 

      “We’ve spent $2.5 trillion over the term in office, my term,” Trump recently said. “That’s over three and a half years — think of that $2.5 trillion. I took over a depleted military, old equipment, broken equipment.”

      Meanwhile, Russia and China continue their military modernization efforts as a looming global conflict could be on the horizon. 

    • Are Early Voting Numbers A Harbinger Of What's To Come On Election Day?
      Are Early Voting Numbers A Harbinger Of What’s To Come On Election Day?

      Tyler Durden

      Wed, 10/14/2020 – 22:45

      Via PredictIt.org (emphasis ours)

      With less than three weeks until Election Day, many states are already seeing historic levels of early voting.

      According to figures from 35 states and the District of Columbia, compiled by the Associated Press and The Wall Street Journal, 8.8 million people have voted by mail in the general election and 962,000 have headed to polling places early to cast ballots. For comparison, more than 58 million early ballots were cast in 2016.

      Pennsylvania, Kentucky and Virginia have already received more early ballots than they did in the 2016 presidential election. Several other states have topped 2016 numbers for mail-in ballots returned, even as in-person early voting is opening up in much of the country.

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      Counting the Votes: The unprecedented influx of early balloting, in person and especially by mail, is presenting a logistical challenge for local election officials. How they handle it is likely to figure in whether voters will see a protracted wait for results beyond Election Day in the presidential race, especially from closely fought battleground states.

      Election officials are already talking about “Election Week” rather than “Election Day.” They are also urging voters to view lengthy counts in close contests as normal.

      States have raced to ramp up, buying extra machines to tabulate votes, adding extra staff to count ballots, and in some cases, extending deadlines. Those rule changes are setting off partisan court battles in key states that will determine which votes count and are adding uncertainty as voters cast ballots in droves.

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      Hinging on the Swing States: The pace of early voting is poised to increase in the weeks leading up to Nov. 3, as deadlines begin to approach.

      In Florida, where polling shows a tight race between President Donald Trump and former Vice President Joe Biden, about 1.7 million mail-in ballots have been cast, more than 60 percent of those received in 2016. Floridians can request absentee ballots until Oct. 24. North Carolina, another presidential battleground and host to a competitive Senate race, received more mail-in votes by September than it saw for all of the 2016 general election. Advance polling sites in the state are open from Oct. 15 to 31.

      In both North Carolina and Florida, registered Democrats have cast more ballots than registered Republicans so far. In North Carolina, independent voters have also cast more early ballots than registered Republicans.

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      Mail-In Impact: Several battleground states are also seeing large numbers of requests for mail-in ballots. This could make for a long election night (hence, “Election Week”) in states that prohibit the counting or processing of ballots before Nov. 3.

      For example, Michigan doesn’t begin tabulating mail-in ballots until 7 a.m. on Election Day. With a projected count of 3 million of the 5-5.5 million votes cast before Nov. 3, Secretary of State Jocelyn Benson has said that her office could announce results as late as the following Friday.

      Similar is true in Wisconsin, which also starts counting on Election Day and where election officials have received 683,000 of the 1.3 million ballots requested. In 2016, 826,000 people voted early either through the mail or in-person, in total. Polling places for early voting open Oct. 20 in Wisconsin.

      So far, at least 11 states have already reached or exceeded 50 percent of their total early vote in 2016. Four have surpassed those levels.

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      Wisdom of the Crowd: While ballots pour in, court battles are determining issues of how people vote and whether certain ballots are disqualified. How those cases turn could impact who wins and loses in 2020.

      Despite the whiff of uncertainty in the political air, traders expect Florida, Pennsylvania and the overall election outcome to all be called on Election Day, albeit with varying degrees of certainty.

      In Florida, an outcome on Nov. 3 is trading at 63¢ and Nov. 4 at just 18¢. Pennsylvania, much like the presidential election outcome, has traders zeroed in on Nov. 3 at 33¢ and Nov. 4 at 24¢, but an outcome after Dec. 14 is third at 10¢. The overall race is trading at 38¢ to 32¢ for a Nov. 3 outcome over a Nov. 4 call and after Dec. 14 is trading at 12¢.

      Biden’s strong lead in the polls and the markets (i.e. he still holds a 27¢ lead over Trump in the 2020 US presidential winner market) could be contributing to traders expecting a media call on or the day after Election Day.

      Will that sentiment hold as we grow closer to Nov. 3?

    • IRS Slaps Baltimore City's Top Prosecutor With Lien For Years Of Unpaid Taxes 
      IRS Slaps Baltimore City’s Top Prosecutor With Lien For Years Of Unpaid Taxes 

      Tyler Durden

      Wed, 10/14/2020 – 22:25

      According to The Baltimore Sun, the IRS has filed a lien against Baltimore City’s top prosecutor for years of unpaid taxes. 

      Baltimore City State’s Attorney Marilyn Mosby and husband Nick Mosby – Democratic nominee for City Council president – were slapped with a $45,000 lien via the IRS for three years of unpaid taxes. The lien showed the Mosbys owe $23,000 for 2014, more than $19,000 for 2015, and about $3,000 for 2016.

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      Marilyn Mosby (Left); Nick Mosby (Right) 

      The Mosbys released a statement to members of the press from their respective offices that read: 

      “I have been in ongoing conversations with the IRS for five years about the tax consequences of an early withdrawal from my retirement savings plan, which I did to support unplanned expenses after a series of family tragedies,” the statement said. “I expect to have the issue resolved in the coming days.”

      Fox 45 News points out, as per Maryland State Constitution, there is a possibility Marilyn Mosby could be removed from office: 

      ” There shall be an Attorney for the State in each county and the City of Baltimore, to be styled “The State’s Attorney,” who shall be elected by the voters thereof, respectively, and shall hold his office for four years from the first Monday in January next ensuing his election, and until his successor shall be elected and qualified; and shall be re-eligible thereto, and be subject to removal therefrom, for incompetency, willful neglect of duty, or misdemeanor in office, on conviction in a Court of Law, or by a vote of two-thirds of the Senate, on the recommendation of the Attorney-General (amended by Chapter 99, Acts of 1956, ratified Nov. 6, 1956; Chapter 681, Acts of 1977, ratified Nov. 7, 1978),” part of the constitution reads.

      Unpaid taxes are not the only probe swirling above the Mosbys; Marilyn is under investigation for having accepted luxury travel trips, free of charge. In the last two years, she’s traveled to Germany, Portugal, Africa, and Scotland. 

      “When Operation Crime and Justice first reported on State’s Attorney Marilyn Mosby’s extensive travel and side business, FOX 45 News filed several public information requests for pertinent documents,” FOX 45 reported in September. 

      “Those requests were not fulfilled,” Fox 45 said. “Instead, the State’s Attorney’s Office asked for thousands of dollars in exchange for certain public records, including $6,480 for specific email records and $156,000 for copies of Mosby’s work calendar.

      Marilyn has served half of her four-year term as the city’s top prosecutor as she is now being investigated for potential ethics violations. 

      Readers may recall Marilyn mishandled the Freedie Gray case, where a young Black male died in police custody on April 2015. Uproar in the community of the death of Gray resulted in weeks of riots around the metro area.

      And if the mounting potential ethics violations for Mosby wasn’t enough for the liberal-run city, the former mayor, Catherine Pugh, is serving a three-year prison sentence for her book fraud scheme. 

    • China Had COVID-Like Patients Months Before Official Timeline
      China Had COVID-Like Patients Months Before Official Timeline

      Tyler Durden

      Wed, 10/14/2020 – 22:05

      Authored by Eva Fu via The Epoch Times,

      Internal CCP documents show patients in Wuhan had symptoms as early as September 2019, but authorities didn’t disclose to the world…

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      A series of leaked documents shows that patients in China with symptoms similar to COVID-19 were hospitalized months before the regime’s official timeline, throwing into question when exactly the CCP virus began spreading in Wuhan, China’s epidemic ground zero.

      At least one patient started experiencing COVID-19-like symptoms in September 2019, according to hospital data obtained by The Epoch Times from a trusted source who has access to government documents. Dozens more were hospitalized over the following month.

      Wuhan hospitals also reported several deaths in October 2019 due to severe pneumonia, lung infections, and other symptoms similar to COVID-19 patients.

      The city’s health commission only publicly announced an outbreak of a novel form of pneumonia on Dec. 31, 2019—after social media posts by whistleblower doctors had gone viral.

      In a letter dated Feb. 19 obtained by The Epoch Times, a national investigation team set up by the central government stated that it wished to trace early cases of the disease. It asked local authorities for data from all Wuhan medical institutions over the period between Oct. 1 to Dec. 10, 2019, including information on patients who visited fever clinics in the vicinity of the Huanan Seafood Market, a wet market that the officials initially identified as the outbreak origin; details of the earliest 10 suspected cases at each medical agency rated tier two or above (three is the highest); and pneumonia deaths with COVID-19-like symptoms.

      The letter stated that nine hospitals, which received the most COVID-19 patients in the city, were key to the investigation.

      The Epoch Times had access to part of the records in response to the inquiry, those from 11 hospitals.

      Despite the collected data, the Wuhan outbreak control task force told media on Feb. 26 that the earliest documented patient was a person surnamed Chen who fell ill on Dec. 8, 2019.

      It’s unclear whether authorities conducted any inquiries into early cases prior to February.

      To some critics, the investigation appeared rather narrow and came too late.

      “For such a massive respiratory disease to break out in the area, how come they didn’t track down all other hospitals?” Sean Lin, former lab director of the viral disease branch at the Walter Reed Army Institute of Research, told The Epoch Times.

      “This should have been done a long time ago,” he said, calling the delayed inquiry “ridiculous.”

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      A screenshot of a leaked document showing details about patients who died of COVID-like symptoms at Wuhan Hospital of Traditional Chinese Medicine in Wuhan, Hubei Province, China, on Feb. 21, 2020. Part of the information is redacted by The Epoch Times to protect the patients’ privacy. (Provided to The Epoch Times)

      Suspected Virus Patients

      The obtained records showed nine deaths due to COVID-19-like conditions at three hospitals.

      Five were severe pneumonia patients who died between November and December 2019 at the Wuhan No. 6 Hospital, one of the hospitals named in the inquiry letter. The Wuhan Hospital of Traditional Chinese Medicine, a tertiary hospital, had three deaths in October. Wuhan No. 8 Hospital recorded one death.

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      Screenshot of a leaked document showing details of patients with COVID-like symptoms at Wuhan Puren Jiangan Hospital, on Feb. 21, 2020. Part of the information is redacted by The Epoch Times to protect the patients’ privacy. (Provided to The Epoch Times)

      Patients died within a period of several days to about four weeks after their first symptoms appeared.

      Xu Zhenqian, for example, was hospitalized at Wuhan No. 6 hospital. The 82-year-old started exhibiting symptoms on Oct. 1, 2019, including coughing fits without an apparent cause and coughed up white phlegm, a sign of respiratory infection, according to the hospital’s clinical description. The patient was transferred from another facility shortly before his death on Nov. 3.

      Three other patients at the same hospital also had difficulty breathing before they died. Their CT scans showed blurred markings in their lungs—patterns that match the lesions on some COVID-19 patients.

      The files also identified at least 40 other suspected COVID-19 patients across eight hospitals, the earliest one being 67-year-old Xiao Niangui, who began exhibiting symptoms on Sept. 25, 2019, and was hospitalized at the Wuhan Puren Jiang’an Hospital.

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      Screenshot of a leaked document showing details of a patient with COVID-like symptoms at Wuhan No. 6 Hospital, on Feb. 21, 2020. Part of the information is redacted by The Epoch Times to protect the patients’ privacy. (Provided to The Epoch Times)

      Wuhan has 205 health facilities at the community and township level and 66 designated hospitals for treating COVID-19 patients, city officials said in March.

      China’s lack of transparency has been heavily criticized by government officials. It consistently refused to allow in experts from the United States and the World Health Organization (WHO) to study the outbreak in the country. On Feb. 12, an official from the U.S. Centers for Disease Control and Prevention said the agency was still unable to access “direct data” about the outbreak and “continue to be hopeful that we’ll be invited to do that.”

      In a media interview released on May 1, a WHO representative in China also said China has excluded the organization’s experts from the country’s virus probe.

    • 2 Artists Dominating American Music Charts Both Died Before Their Albums Dropped
      2 Artists Dominating American Music Charts Both Died Before Their Albums Dropped

      Tyler Durden

      Wed, 10/14/2020 – 21:45

      NYC rapper Pop Smoke’s debut album, “Shoot for the Stars, Aim for the Moon”, has dominated the Billboard charts since its July debut. This past month, it sold the second-most albums of any artist.

      Oddly, the artist who came in first was another rapper, Juice WRLD, whose album “Legends Never Die” is the No. 1 album in the country.

      As Bloomberg reported Wednesday, the two artists are topping its ranking of the most influential figures in music for 2020.

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      It’s an appropriately morbid trend for 2020, a year that has been marked by images of the sick and suffering, even more so than – well – many of the years that preceded it since the beginning of the 21st century.

      But it also highlights an alarming trend in rap music, a genre that has taken over the popular music industry as the best-selling (and most profitable) form of musical entertainment, second only to massive arena tours featuring aging rockers like the Police and Guns N’ Roses – or pop stars like Taylor Swift.

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      Source: Bloomberg

      Many top-selling rap artists have been implicated or convicted of violent crimes, including murder, manslaughter, attempted murder and armed robbery.

      It’s a trend that has dovetailed with the surge of gun violence in America’s cities, including Chicago, NYC, LA and even smaller cities like Baltimore and Detroit.

      During the gang wars that rocked the south side of Chicago earlier this year, another up-and-coming rapper was shot and killed.

      Pop Smoke was shot and killed during a home invasion back in February. Five suspects have been arrested and are awaiting trial on murder charges.

      The circumstances behind Juice WRLD’s death were decidedly less violent; he overdosed on drugs he reportedly swallowed for fear they would be discovered by police. He’s far from the only rapper in recent years to die from drug overdoses; two other chart-topping rap artists, Mac Miller and Lil Peep, have also died of overdoses over the past few years.

      Then again, violence has been part of rap virtually since its birth in the late 1970s/early 1980s. Tupac and Biggie, among the biggest rappers of the 90s, were famously killed in unsolved drive-by shootings. And 50 Cent, the executive producer of Pop Smoke’s album, was shot 9 times, but survived. The man suspected of organizing the attack was later shot and killed, though no charges have been filed.

    • Trump Vs Deep State: Will Trump Upend Neocolonial World Order?
      Trump Vs Deep State: Will Trump Upend Neocolonial World Order?

      Tyler Durden

      Wed, 10/14/2020 – 21:25

      Submitted by Nauman Sadiq,

      Former Republican presidential candidate Mitt Romney released an extraordinary statement on Tuesday, decrying a political scene he said “has moved away from spirited debate to a vile, vituperative, hate-filled morass, that is unbecoming of any free nation.” “The world is watching America with abject horror,” he added.

      Romney tweeted his statement under the title “My thoughts on the current state of our politics.” “I have stayed quiet,” he said, “with the approach of the election.” “But I’m troubled by our politics,” the sole Republican to vote to impeach Trump added in his statement.

      “The president calls the Democratic vice-presidential candidate ‘a monster’. He repeatedly labels the Speaker of the House ‘crazy.’ He calls for the justice department to put the prior president in jail. He attacks the governor of Michigan on the very day a plot is discovered to kidnap her. Democrats launch blistering attacks of their own, though their presidential nominee refuses to stoop as low as others,” Romney, a Utah senator who was the 2012 Republican nominee for president, complained in the statement.

      Though superficially trying to appear “fair and balanced” in the didactic sermon patronizingly delivered by the only adult in the room full of political upstarts, Romney’s perceptible bias in the polemical diatribe was hard not to be noticed.

      It defies explanation if he didn’t watch the presidential debate or consciously elided over the sordid episode where the Democratic presidential nominee contemptuously sneered at his political rival with derogatory epithets such as “a clown, a racist and Putin’s puppy.”

      I’m not sure if Biden was high on meth during the debate, as Trump had repeatedly been insinuating, or he lacks basic etiquette to act like a dignified statesman, but only amphetamines could make a person take leave of his senses and insolently yell at the president of the US, “Will you shut up, man,” while ironically complaining, “This is so unpresidential.”

      Though a longtime Republican senator, Mitt Romney’s loyalty to the GOP was compromised due to a personal spat with Trump. In the Republican primaries of the 2016 US presidential elections, Romney severely castigated Trump, calling him “a phony and a fraud.”

      After Trump was elected president, he dangled the carrot of the secretary of state appointment to Romney, invited him to a dinner in a swanky New York restaurant, made him eat his words and fawn all over Trump like a servile toady. But later, he gave one of the most coveted appointments in the US bureaucratic hierarchy to oil executive Rex Tillerson.

      Romney felt humiliated to the extent that in Trump’s vulnerable moment, after impeachment proceedings were initiated against him in the Senate in February, Romney became the only US senator in the American political history who voted against his own Republican Party president.

      Though lacking intellect and often ridiculed for frequent spelling errors on his Twitter timeline, such as “unpresidented” and “covfefe,” implying he gets his news feed from television talk shows and rarely reads book and articles, Donald Trump is street smart and his anti-globalization agenda and down-to-earth attitude appeal to the American working classes.

      Nevertheless, it’s quite easy for the neuroscientists on the payroll of the national security establishment to manipulate the minds of such impressionable politicians and lead them by the nose to toe the line of the deep state, particularly on foreign policy matters. No wonder national security shills disparagingly sneer at the president as the “toddler-in-chief.”

      In 2017, a couple of caricatures went viral on social media. In one of those caricatures, Donald Trump was depicted as a child sitting on a chair and Vladimir Putin was shown whispering something into Trump’s ears from behind. In the other, Trump was portrayed sitting in Steve Bannon’s lap and the latter was shown mumbling into Trump’s ears, “Who is the big boy now?” And Trump was shown replying, “I am the big boy.”

      The meaning conveyed by those cunningly crafted caricatures was to illustrate that Trump lacks the intelligence to think for himself and that he was being manipulated and played around by Putin and Bannon. Those caricatures must have affronted the vanity of Donald Trump to an extent that after the publication of those caricatures, he became ill-disposed toward Putin and sacked Bannon from his job as the White House Chief Strategist in August 2017, only seven months into the first year of the Trump presidency.

      Bannon was the principal ideologue of the American alt-right movement. Though the alt-right agenda of the Trump presidency has been scuttled by the deep state, Trump’s views regarding global politics and economics are starkly different from the establishment Democrats and Republicans pursuing neocolonial world order masqueraded as globalization and free trade.

      Besides the Trump supporters in the United States, the far-right populist leaders in Europe are also exploiting popular resentment against free trade and globalization. The Brexiteers in the United Kingdom, the Yellow Vest protesters in France and the far-right movements in Germany and across Europe are a manifestation of a paradigm shift in the global economic order in which nationalist and protectionist slogans have replaced the free trade and globalization mantra of the nineties.

      Donald Trump withdrawing the United States from multilateral treaties, restructuring trade agreements and initiating a trade war against China are meant to redress, at least cosmetically, the legitimate grievances of the American working classes against the wealth disparity created by laissez-faire capitalism and market fundamentalism.

      Michael Crowley reported for the New York Times last month that American allies and former US Officials fear Trump could seek NATO exit in a second term. According to the report, “This summer, Mr. Trump’s former national security adviser John R. Bolton published a book that described the president as repeatedly saying he wanted to quit the NATO alliance. Last month, Mr. Bolton speculated to a Spanish newspaper that Mr. Trump might even spring an ‘October surprise’ shortly before the election by declaring his intention to leave the alliance in a second term.”

      The report notes, “In a book published this week, Michael S. Schmidt, a New York Times reporter, wrote that Mr. Trump’s former chief of staff John F. Kelly, a retired four-star Marine general, told others that ‘one of the most difficult tasks he faced with Trump was trying to stop him from pulling out of NATO.’ One person who has heard Mr. Kelly speak in private settings confirmed that he had made such remarks.”

      Crowley adds, “Donald Trump now relies on ‘a team of inexperienced bureaucrats’ and has grown more confident and assertive, as he has already sacked seasoned national security advisers, including John F. Kelly; Jim Mattis, another retired four-star Marine general and Trump’s first defense secretary; and H.R. McMaster, a retired three-star Army general and Trump’s former national security adviser.”

      In fact, the Trump administration announced plans in July to withdraw 12,000 American troops from Germany and sought to cut funding for the Pentagon’s European Deterrence Initiative. About half of the troops withdrawn from Germany were re-deployed in Europe, mainly in Italy and Poland, and the rest returned to the US.

      Similarly, although full withdrawal of US troops from Afghanistan was originally scheduled for April next year, according to terms of peace deal reached with the Taliban on February 29, President Trump hastened the withdrawal process by making an electoral pledge this week that all troops should be “home by Christmas.” “We should have the small remaining number of our BRAVE Men and Women serving in Afghanistan home by Christmas,” he tweeted last week.

      Even the arch-foes of the US in Afghanistan effusively praised President Trump’s peace overtures. Taliban spokesman Zabihullah Mujahid told CBS News in a phone interview last week, “We hope he will win the election and wind up US military presence in Afghanistan.”

      The militant group also expressed concern about President Trump’s bout with the coronavirus. “When we heard about Trump being COVID-19 positive, we got worried for his health, but it seems he is getting better,” another Taliban senior leader confided to reporter Sami Yousafzai.

      Moreover, Iran-backed militias recently announced “conditional” cease-fire against the US forces in Iraq on the condition that Washington present a timetable for the withdrawal of its troops. The US-led coalition has already departed from smaller bases across Iraq and promised to reduce its troop presence from 5,200 to 3,000 in the next couple of months, though Iraq’s parliament passed a resolution urging the full withdrawal of US troops in January.

      There is no denying the fact that the four years of the Trump presidency have been unusually tumultuous in the American political history, but if one takes a cursory look at the list of all the Trump aides who resigned or were otherwise sacked, almost all of them were national security officials.

      In fact, scores of former Republican national security officials recently made their preference public that they would vote in the upcoming US presidential elections for Democrat Joe Biden instead of Republican Donald Trump against party lines.

      What does that imply? It is an incontrovertible proof that the latent conflict between the deep state and the elected representatives of the American people has come to a head during the Trump presidency.

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      Although far from being a vocal critic of the deep state himself, the working-class constituency that Trump represents has had enough with the global domination agenda of the national security establishment. The American electorate wants the US troops returned home, and wants to focus on national economy and redress wealth disparity instead of acting as global police waging “endless wars” thousands of miles away from the US territorial borders.

      Addressing a convention of conservatives last year, Trump publicly castigated his own generals, much to the dismay of neoliberal chauvinists upholding American exceptionalism and militarism, by revealing: “I learn more sometimes from soldiers what’s going on, than I do from generals. I do. I hate to say it. I tell the generals all the time.”

      At another occasion, he ruffled more feathers by telling the reporters: “I’m not saying the military’s in love with me. The soldiers are. The top people in the Pentagon probably aren’t because they want to do nothing but fight wars so all of those wonderful companies that make the bombs and make the planes and make everything else stay happy.”

    • US Army Wants To Make COVID Social Distancing 'Permanent' Even After Pandemic Ends
      US Army Wants To Make COVID Social Distancing ‘Permanent’ Even After Pandemic Ends

      Tyler Durden

      Wed, 10/14/2020 – 21:05

      For the majority of Americans wondering when this socially distanced dystopian nightmare of ‘6 feet apart’ and ‘wear a mask!’ and ‘mandatory hand sanitizer’ will finally be over, the Pentagon has just given serious cause for concern. When will it all end?

      Perhaps leading the way as an example of where we all might be headed as a country, the United States Army has strongly hinted that it’s looking to make its coronavirus protective measures permanent

      This according to alarming statements reported by the military site Defense News:

      In the wake of the COVID-19 pandemic, the defense industry began adjusting its facilities to avoid major outbreaks that could shut down production lines for days or weeks at a time. And now that those changes are in place, the U.S. Army’s top acquisition official thinks they should remain so for good.

      Speaking to reporters during the Association of the U.S. Army’s annual conference, Bruce Jette, assistant secretary of the Army for acquisition, logistics and technology, said he sees long-term benefits from maintaining the kind of social distancing protective measures put in place across industry.

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      US Army combat medics maintaining social distancing, via U.S. Army Medical Center of Excellence 

      The DoD has observed a significant drop in cases of the common cold, viral infections, and the flu – and expects this will last so long as troops practice a distancing regimen.

      Jette’s comments and predictions of what might come sound downright dystopian and inhuman in terms of the holistic well-being of American troops.

      “I don’t know that I would ever say it’s totally back to normal,” Jette was quoted as saying. “I don’t see us backing off of using these same techniques on a contouring basis, even as the vaccine continues to mature.”

      This senior Army official is essentially saying that even if an effective vaccine is developed there’s no returning to normal.

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      Image via U.S. Navy

      “I would say we don’t back off of the COVID-19 standards because it will also reduce the impact of flu and other illnesses,” he added. “We think continuing to apply these same techniques would be further beneficial to the people and to the Army overall.”

      Consider this: should the Army and eventually the entire DoD implement “permanent” social distancing measures, which would at the very least mean for years to come, that would put the entirety of American society a mere stone’s throw away from being forced to do the same. 

      In a sense, US armed forces might be the ‘canary in the coal mine’ in this case, revealing where we’re all headed and what might be forced on the already weary American people, who overwhelmingly are ready to truly return to normal.

    • Tesla-Beating Carmarker Shows Xi’s Vision for 2025
      Tesla-Beating Carmarker Shows Xi’s Vision for 2025

      Tyler Durden

      Wed, 10/14/2020 – 21:03

      By Bloomberg macro commentator Ye Xie

      It was another wait-and-see session. The “blue wave” trades — higher stocks and yield-curve steepening — have faded this week.

      Mixed bank earnings, dwindling hopes for pre-election stimulus and skittishness about the virus and vaccine left investors with fewer reasons to bid up risky assets. Even with Joe Biden’s current lead, the skepticism toward polling data is understandable given memories of 2016. That said, if President Trump does overcome his deficit in recent polls, it would be the biggest underdog victory since World War II, according to Deutsche Bank’s Jim Reid.

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      Across the Pacific Ocean, President’s Xi’s highly anticipated speech in Shenzhen didn’t break any new ground. But his vision for a clean, efficient and innovative China in a five-year development plan was reflected in markets in the U.S. and Hong Kong Wednesday.

      Consider these movements:

      A. Electric carmakers, including NIO, Li Auto and BYD, surged. NIO jumped 23% after JPMorgan and Citigroup upgraded their ratings on the stock, extending its gain to 559% this year to outpace a 451% advance in Tesla. JPMorgan analyst Nick Lai expects the market share of new-energy vehicles in China to rise to 20% by 2025, from less than 5% in 2019.

      B. Solar energy company JinkoSolar rallied another 9% in the U.S., tripping its price this year, while China’s biggest wind-turbine maker, Xinjiang Goldwind Science & Technology, surged 22% in Hong Kong. The gains accelerated since Xi made an ambitious pledge this month to go “carbon neutral” by 2060. China tops the global league for emissions, at 28% of the total in 2019. The plan would call for renewables to account for 43% of China’s primary energy mix, from 15% now, according to Citigroup.

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      C. The yuan outperformed after a PBOC official played down the currency’s recent appreciation, saying the rally has been mild and reflects improvement in the Chinese economy. Sun Guofeng, monetary policy department head, also said China’s liquidity is reasonable and ample across the board, suggesting limited room for policy easing. Keeping a normalized monetary policy has been part of China’s strategy to attract foreign investors to support innovation and the development of its capital markets.

      The old saying is that one has to listen to the Party to make money. There may be some truth to that.

    • Fed Vice Chair Makes "Shocking" Admission: Fed May Never Be Able To Stop Manipulating The Market
      Fed Vice Chair Makes “Shocking” Admission: Fed May Never Be Able To Stop Manipulating The Market

      Tyler Durden

      Wed, 10/14/2020 – 20:45

      Yesterday, San Fran Fed president Mary Daly made a stunning admission: just in case there was any confusion, the Fed knows that it has – and continues to blow – an asset bubble making “a few” who own stocks uber-rich, but the economy is now so reliant on the Fed liquidity firehose that the moment the Fed threatened to pop this bubble, which some have estimated to be around $90 trillion in liquidity, would result in economic devastation and leave millions without a job.

      “I am not willing to trade millions of jobs for people who need a ladder rung up in order to keep the stock market from going up for a few who have those holdings,” Daly said while answering questions following a speech on – what else – racial inequality at a virtual event Tuesday hosted by the University of California, Irvine.

      Well, it appears that the Fed makes dramatic revelations in two, because just one day after Daly admitted that the Fed is trapped, the Fed’s Vice Chair for Supervision Randal Quarles, made an even more shocking – or rather “shocking” as we have said for the past decade that this is the case – admission, when he said that the Treasury market is now so large that the U.S. central bank may have to continue to be involved to keep it functioning properly.

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      That’s right: following its decade-long attempt to “stimulate inflation” by cutting rates, something which we showed is deflationary, and which the Fed did by manipulating bond yields through ZIRP and QE, the Fed only now realizes that if the central bank steps away, everything will crash and yields will explode higher, similar to what happened to repo rates last September when clearing rates briefly hit 10% in a market that was seen as Fed-less.

      In short, there is no longer a market, there are only centrally-planned transactions which can only happen with the explicit blessing of the Fed… which can pull its backstops on a whim and crash trillions in assets in a nanosecond.

      Speaking at a virtual panel conversation on the future of central banking hosted by the Hoover Institute, Quarles said that “it may be that there is a simple macro fact that the Treasury market being so much larger than it was even a few years ago, much larger than it was a decade ago and now really much larger than it was even a few years ago, that the sheer volume there may have outpaced the ability of the private market infrastructure to support stress of any sort there.”

      Quarles then said that raises a question of whether the private sector can ever grow fast enough to cope, “or will there be some indefinite need for the Fed to provide — not as a way of supporting the issuance of Treasuries, but as a way of supporting a functioning market in Treasuries — to participate as a purchaser for some period of time.” Actually, he can keep the “supporting the issuance of Treasuries” in there too, because by now everyone knows that the Fed is monetizing every single dollar in debt the Treasury sells to prevent the entire house of cards from collapsing.

      Translation: the Fed can never again step away and stop manipulating the bond market, which by extension and through the risk premium, is the market which defines every other market, including stocks, commodities, FX and so on.

      In other words, the Fed is now an irreplaceable anchor of what was once known as the market, in perpetuity.

      Realizing the chaos his comments would lead to if they were not phrased as an open-question, the vice chair quickly caveated his statement saying that “I haven’t concluded that that’s the case, the institution certainly hasn’t concluded that that’s the case, but I do think it’s an open question” but the mere fact that the Fed is even mentioning this as a possibility tells us all we need to know, and is also why stocks and bonds will never again crash until fiat money and central banking as we know it, are finally expunged, most likely under very violent circumstances.

    • Twitter CEO Dorsey Responds To Biden Block-Gate: Unacceptable
      Twitter CEO Dorsey Responds To Biden Block-Gate: Unacceptable

      Tyler Durden

      Wed, 10/14/2020 – 20:25

      Update (2000ET): Unless you’ve been hiding under a rock all day, you’ll know that Twitter and Facebook have been escalating their censorship of a shocking New York Post story showing emails (to and from Hunter Biden) that clearly contradict Joe Biden’s claims that he never discussed business with his son.

      The authenticity of the contents of the emails was not denied by the Biden campaign and furthermore, the possibility of an off-the-books meeting between the VP and the Ukrainian executive was not denied:

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      Several GOP lawmakers got officially ‘involved’, including Rep Jim Jordan, who issued his own letter to Facebook demanding an explanation for why it decided to censor the Hunter Biden story.

      Facebook reiterated its warning that that the U.S.’s foreign adversaries, including Russia, might seek to trick journalists into amplifying hacked or inaccurate content they want to spread ahead of an election.

      Nathaniel Gleicher, Facebook’s head of security policy, issued this warning again Wednesday on Twitter, “given this morning’s news cycle.” He did not directly say whether this was why Facebook took action on the New York Post content.

      Then Twitter CEO Jack Dorsey offered his comment, rapidly backpedaling on the actions his firm had taken:

      Which sounded somewhat genuine, until the company attempted to provide “much needed  clarity” about its decision.

      The company then tried to cover its action by laying out a step-by-step explanation of how the story violated its terms of service. Notably, many of the examples it offered are routinely exhibited in news stories of all kinds.

      The main offense that it’s leaning on: publishing personal photos without the explicit permission of the subject.

      News media have long respected the privacy of private individuals, but when it comes to public figures, all bets are off. At least that’s what many reporters are taught in journalism school.

      “We want to provide much needed clarity around the actions we’ve taken with respect to two NY Post articles that were first Tweeted this morning.”

      Did President Trump give NBC News permission to publish that recording of him talking to Billy Bush?

      Oh and one more thing…

      Of course, conservatives immediately pointed out that it’s not Twitter’s communication skills that are the issue.

      And another user pointed out the irony of journalists backing Twitter’s explanation.

      We have one warning for Mr.Dorsey, stay out of the way of (soon to be Congresswoman Laura Loomer):

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      Now, as we wait to learn more about Facebook’s thought process, will Zuckerberg personally weigh in?

      When will this be stopped? As Tucker Carlson said tonight: “Soon we’re going to do a show where we just read the names of all the Republicans…who refused to lift a finger to save you from what you correctly described as this grave moment in American history.”

      * * *

      Update (1645ET): As the uproar over Twitter & Facebook’s efforts to suppress Wednesday’s New York Post exposè intensifies, Twitter has (begrudgingly, we imagine) made mention of the scandal in its trending topics.

      Ironically, Streisand Effect is trending nationally – that’s a subtle reference to the principle of how trying to suppress information often accidentally causes it to spread.

      Several slots below that is #HunterBiden.

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      Quietly backtracking suggests Twitter is beginning to regret its decision to censor the story.

      Meanwhile, as the mainstream media desperately tries to change the subject…

      …Ted Cruz, coming in hot off his performance during the ACB hearings this week, tweeted a copy of a letter he recently sent to the CEO of Twitter, Jack Dorsey,

      As Cruz argues in the letter, like myriad other newspaper reports published during the Trump era (too many to even begin to name here), the NYPost story was based on “leaked email correspondence”. He adds that the decision to suppress the story was “hypocritical”, given the company has allowed plenty of other less definitively sourced reporting to spread unchecked.

      Twitter well-knows its incredible ability to influence public dialogue by promoting some stories while suppressing others, and it has plainly decided that the American people should not be seeing or discussing this particular story, which could significantly influence voters’ views of candidate Biden.

      Cruz concluded that “this can only be seen as an obvious and transparent attempt by Twitter to influence the upcoming Presidential election,” and demanded that the social media company turn over important details to the Subcommittee on the Constitution.

      The most important of the four question (the first three mostly cover the whos, wheres, whens, and hows) is the last one, which asks Twitter to cite a “neutral principle” which would explain why the reporting on the Steele dossier was allowed to go unquestioned, but this story, reported in the country’s 4th-highest circulation newspaper, must be censored because it’s “dangerous”.

      Eric Weinstein seized the opportunity to make a great point.

      An editor at the Post accused Twitter of waging a “digital civil war” against conservatives, citing this as the latest evidence.

      By censoring the NYPost story, Twitter and Facebook have effectively allowed what many would have written off as “just another crazy Hunter story” to take on a life of its own. Ironically, they’ve accomplished what they were purportedly trying to prevent: they’ve given the story even more oxygen.

      * * *

      Update (1455ET): If you thought Twitter’s censorship of the NYPost Hunter Biden exposé couldn’t get anymore Orwellian, well, you were wrong.

      As if preventing users from sharing the link wasn’t enough, the platform has now deleted the NYP’s initial tweet.

      We imagine it did so after a flood of hysterical leftists smashed that “report tweet” button.

      Meanwhile, after the Biden campaign neglected to comment on the veracity of the emails shared in the NYPost expose, the White House pool reporter reported that the Biden campaign had called a “lid” – that is, an end to all in-person campaign-related events – before 10am, ensuring the former VP wouldn’t have any prolonged in person contact with reporters on the same day the expose dropped.

      As we’ve explained in the past, a “lid” is essentially permission for the doting reporters covering Biden’s campaign to head home for the day. His campaign’s frequent use of the practice has drawn more unwanted attention to the cozy relationship between the Biden campaign and the Washington Press corp.

      * * *

      Update (1430ET): Twitter is now apparently flagging this morning’s NY Post report as “unsafe” and refusing to allow its users to share it.

      This is an escalation from earlier, when Twitter was merely prompting users to reconsider before sharing.

      * * *

      Update (1405ET): While left-wing conspiracy theorists try to denounce the emails published by the NYP as fake, the Trump Campaign has just pointed out something very interesting in its latest comment on the issue.

      This medium post purporting to show that the emails were “photoshopped” has been making the rounds – unimpeded – on social media.

      * * *

      Update (1310ET): In the social media contest to see which platforms can successfully suppress Wednesday’s NYP Hunter Biden scoop, it looks like Twitter has taken the lead. In addition to scrubbing Hunter’s name from its trending topics, Twitter is hitting users trying to retweet the story with one of their “are you sure?” prompts.

      * * *

      Update (1255ET): Hours after the Trump Campaign earlier blasted the Biden Campaign’s “blatant selling of access”, team Biden has finally responded by asserting that the meeting between VP Biden and a top Burisma executive described in one of the leaked emails detailed below never took place.

      “We have reviewed Joe Biden’s official schedules from the time and no meeting, as alleged by the New York Post, ever took place,” said campaign spokesman Andrew Bates in a statement.

      The team also claimed that they were never approached by the reporters who published the story.

      To be sure, just because it wasn’t on Biden’s “official” schedule, doesn’t mean it didn’t happen.

      The Biden camp also claimed the NY Post did nothing to try and corroborate the “unverified” emails.

      Notably, the NY Post has shared one of the emails in full in a PDF document.

      480001185 Email From Vadim Pozharskyi to Devon Archer and Hunter Biden by Zerohedge on Scribd

      Critics are calling for the Post to release metadata from the emails, or some other clue to verify the messages.

      Meanwhile, Trump Campaign spokesman Tim Murtaugh makes a good point.

      “The real question is, as of course this has been seized by the FBI since then, why has the FBI been sitting on this?” Murtaugh said, adding, “I would also further point out that no one seemed to care when someone committed an obvious federal crime by leaking the president’s tax documents to the New York Times.”

      * * *

      Update (1150ET): More high-profile conservatives have lashed out at Facebook for censoring the story about Hunter Biden.

      Of course, Facebook isn’t alone: Twitter is also keeping the story out of its trending topics menu.

      We’re also seeing an avalanche of memes.

      While the hard drive has been turned over to the FBI, the Senate Homeland Security and Governmental Affairs Committee confirmed it’s working with the computer repairman who initially discovered the hard drive to “verify” the documents. The repairman initially contacted the committee back in September, one day after it released the report on conflicts related to Hunter, per the NY Post.

      Some other revelations have been publicized from the email cache: In a follow-up piece, the NY Post revealed that Blue Star Strategies, identified by the NY Post as a “Democratic” PR firm, leaked the minutes of an administration conference call to Burisma executive Vadym Pozharskyi along with Hunter Biden and his former business partner Devon Archer.

      * * *

      Update (1145ET): Rumor has it that one of the lewd videos mentioned earlier features Hunter Biden smoking crack and having sexual relations with an unidentified woman.

      Truly legendary.

      * * *

      Update (1115ET): In a surprising move to censor a mainstream media outlet known for leaning conservative, Facebook’s platform managers have decided to actively suppress distribution of the latest Hunter Biden expose.

      The Trump Campaign accused Stone and the company of actively interfering in the election.

      Republicans and conservatives across Twitter and elsewhere also expressed their dismay at the decision.

      While CEO Mark Zuckerberg has acknowledged that Facebook has some obligation to censor or root out “misinformation”, this story isn’t what that is. Keep in mind, Facebook censored ZERO stories about the Russia investigation and its origins, even as some key elements of the NYT’s early reporting were found to be false.

      To be sure, mainstream media are abiding with a near-blackout, just as we had anticipated.

      It’s like veteran political journalist Matt Taibbi (hardly a conservative) has argued: best-case, enforcing “misinformation” is a laborious game of whack-a-mole. But right now, it’s just simply opening the companies to accusations of bias because that’s what they are showing.

      * * *

      Update (1006ET): Due to the gravity of its claims, the NY Post’s Hunter Biden scoop has overshadowed the third day of ACB’s confirmation hearings to become the major political story of the day.

      So far, the MSM’s most cogent objection is: ‘if all of this is real, then why wasn’t it in the Senate report? And how long has Giuliani had a copy of the hard drive?’

      One respondent joked.

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      And while the NY Post published numerous photos from the hard-drive ranging from the banal to the bizarre, photos of Hunter Biden with a crack/meth pipe in his mouth have gone viral on social media.

      * * *

      Update (0900ET): The White House is celebrating the Wednesday morning NY Post bombshell…

      …while the MSM is trying to make it all go away.

      That’s hardly a surprise.

      * * *

      MSM organizations may have largely ignored findings from a Senate Intel Committee report, released last month, which claimed that some of Hunter Biden’s activities in Ukraine raised “counterintelligence and extortion” concerns. On the day that report dropped, Rep Adam Schiff brushed it aside, accusing his GOP colleagues in the Senate of “promoting the same Russian disinformation”, per the New York Post.

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      Well, we’d be interested to hear what Schiff & Company have to say about this.

      In a shocking report based on documents collected by the FBI – but which haven’t been previously disclosed in the press – the New York Post reveals that Hunter Biden introduced his father – then the Vice President of the United States – to a top executive at Burisma, the shady Ukrainian energy firm where Biden once served as a board member.

      Emails contained in the report shed new light on Biden’s claims that he successfully forced former Ukrainian President Petro Poroshenko to fire a public prosecutor named Viktor Shokin. Biden bragged about leveraging $1 billion in US aid to force Poroshenko to fire Shokin, who was opposed by both the US and the EU. However, Shokin was reportedly working on an investigation into the management and executive board of Burisma, a group that included Hunter Biden, and his former business partner Devon Archer, whose conviction on securities fraud charges in the US was recently reinstated.

      The emails offer evidence that Hunter Biden did in fact introduce his father to a top executive at Burisma less than a year before the vice president moved to oust Shokin, thereby quashing an investigation into the firm. The meeting is referenced in emails between Vadym Pozharskyi, an advisor to the board of Burisma, who sent Biden an email on April 17, 2015 thanking him for the introduction.

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      Another email also shows Pozharskyi, believed to be the No. 3 exec at Burisma, asking Biden about how the political scion could “use your influence” to help Burisma.

      All of this would seem to undermine Biden’s claim that he has “never spoken to my son about his overseas business dealings”, which also included extensive dealings in China.

      Another email dated on May 12, 2014, shortly after Hunter joined the board, shows Pozharskyi attempting to pressure Biden to use his “political leverage” to help the company. The message included the subject line “urgent issue” and also references an attempted “shakedown” by Ukrainian prosecutors under Poroshenko. According to Pozharskyi, prosecutors in the country had approached a man referred to as “NZ”, who was identified by the Post as Burisma founder Mykola Zlochevsky, who went by the Americanized name “Nicholas”.

      When “NZ” rebuffed their threats, they proceeded with “concrete actions” including “one or more pretrial proceedings,” Pozharskyi wrote.

      “We urgently need your advice on how you could use your influence to convey a message / signal, etc .to stop what we consider to be politically motivated actions,” he added.

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      The timing of the email is also notable: It was sent just as Burisma was announcing Biden’s decision to join the executive board.

      It’s merely the latest piece of evidence suggesting that the company brought Biden on to manage its “legal affairs” because it likely believed his pull with the US would protect Burisma from these types of prosecutorial “shakedowns”.

      In addition to the emails, the drive contained photos, some of which were shared with the Post. They spanned from family snaps of Hunter with his father and his kids, to selfies of Biden smoking cigarettes in a variety of unusual poses.

      According to the Post, the images and correspondence were taken from the hard drive of a laptop that was dropped off at a repair shop in Delaware, and never retrieved. After seeing what was on the hard drive, the owner of the shop copied it, and turned it over to a lawyer connected with former NYC Mayor Rudy Giuliani. Giuliani reportedly turned it over to the NY Post over the weekend.

      We imagine the MSM will cover up this report, as is standard practice for any concerning information involving Hunter Biden’s foreign business dealings.

    • How 'Democratization' Of The Bond Market Killed Liquidity & Forced The Fed To Save The World
      How ‘Democratization’ Of The Bond Market Killed Liquidity & Forced The Fed To Save The World

      Tyler Durden

      Wed, 10/14/2020 – 20:25

      Enabling the great unwashed masses of the world’s modestly wealthy to partake in the global bond market has been heralded as an epochal movement toward the ‘democratization‘ of an arcane asset-class by the creators of Exchange-Traded Funds (and Notes).

      Yes, it sparked a massive increase in passive investment-based cash into a relatively illiquid market – hoorah – but, as recent academic report by the Swiss Finance Institute (SFI) found, there are some rather notable ‘unintended consequences’ to this sudden technical shift.

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      Of course, you will read none of this in the mainstream, or hear these fears raised by asset-gatherers and commission-rakers since, as Upton Sinclair foretold, “it is difficult to get a man to understand something when his salary depends upon his not understanding it.”

      But, as Bloomberg’s Katharine Greifeld reports, in the case of the corporate bond market, the boom in credit ETFs has sparked a surge in liquidity risk…(something we experienced in the real world in March) so much so in fact that The Federal Reserve was forced to step in (for the first time – officially – in its history) and intervene to save the world.

      The impact was felt across the entire bond market with Treasury liquidity suffering a shock collapse, and huge gaps emerging between the prices of ETFs and the bonds they track.

      That chaos quickly spilled over into the corporate bond market and only the Fed’s action restored calm.

      Critically, SFI’s Efe Cotelioglu notes that, unlike with stocks, ETF or mutual fund ownership does not affect the liquidity in the underlying bonds

      “Higher ETF ownership of investment-grade corporate bonds can reduce the ability of investors to diversify liquidity risk,” Cotelioglu, who is also a PhD candidate at the University of Lugano, wrote in a paper.

      Specifically, Cotelioglu puts this divergence in liquidity down to contrasting investor bases and structural differences. For instance, as Greifeld notes, mutual funds have “discretion” in deciding how to meet redemptions, while an ETF can’t choose what assets it sells.

      This research confirms the market-wide experience that very liquid funds could become a destabilizing force for their less liquid underlying securities… and, in many cases in March, forced the market for any sizable trades to be done ‘by appointment’ only.

      For now, calm has been restored, thanks in large part to The Fed’s buying efforts (and promise to act)

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      But, as Bloomberg’s Greifeld notes, while the study used almost a decade’s worth of data through to the second quarter of 2019, the market for fixed-income ETFs has exploded in size since then.

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      Bond ETFs have pulled in about $170 billion in 2020, surpassing equity inflows and already beating last year’s record $154 billion haul.

      So don’t be surprised if the next ‘event’ in the markets brings Jay Powell storming back in to save the corporate bond market (and keep the zombies ‘alive’ just a little longer – a bridge to the vaccine?)…

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      The takeaway – as The Fed’s hidden ‘yield curve control’ has managed the Treasury market in a narrow yield range for months (and its corporate bond buying program), the rising liquidity risk exposed by Cetelgio’s paper (as passive flows continue to flood into ETFs) means any market shocks (cough – the election – cough) will expose the real liquidity-premium-adjusted prices for these bonds, far below NAVs.

    • Voters Blame Pelosi Over Trump For Stimulus Impasse: Poll
      Voters Blame Pelosi Over Trump For Stimulus Impasse: Poll

      Tyler Durden

      Wed, 10/14/2020 – 20:05

      A new poll reveals that more Americans blame House Speaker Nancy Pelosi for the stalled stimulus deal than President Trump.

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      According to a poll conducted Oct. 9-11 by left-leaning YouGov, 43% of those polled blamed Pelosi for failing to reach a stimulus deal, while 40% blame President Trump. 17% were unsure.

      Pelosi, the target of a new bill introduced by Rep. Doug Collins (R-GA) which seeks to remove her over a ‘lack of mental fitness,’ got into a testy exchange on Tuesday with CNN‘s Wolf Blitzer – biting his head off when he asked why she wouldn’t accept Trump’s $1.8 trillion stimulus deal (while citing several prominent Democrats who want her to take it).

      I don’t know why you’re always an apologist and many of your colleagues are apologists for the Republican position,” replied Pelosi.

      As the Daily Caller notes, Rep. Ro Khanna tweeted on October 11 that the $1.8 trillion “is significant & more than twice [the] Obama stimulus” (to which Pelosi scoffed).

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    • Las Vegas' Largest Casino Cuts Hours As COVID Keeps Customers At Bay 
      Las Vegas’ Largest Casino Cuts Hours As COVID Keeps Customers At Bay 

      Tyler Durden

      Wed, 10/14/2020 – 19:45

      Citing weak demand, Encore at Wynn Las Vegas announced Tuesday it has reduced operating hours, reported 8 News Now

      The 2,034-room resort, the biggest casino on the Strip, will be open Thursdays through Sundays only, is just more evidence that the “V-shaped” recovery narrative for the gambling hub is faltering. 

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      Encore at Wynn Las Vegas

      Encore’s new operating schedule will continue indefinitely “until consumer demand for Las Vegas increases,” Wynn announced Tuesday. This means hotel guests will be able to check-in at 2 p.m. on Thursdays and check out around noon on Mondays. 

      As for what the new schedule means for employees, many of whom just recently returned to work, well, it appears layoffs are nearing: 

      “We have not yet determined the number of employees who will be furloughed as a result of the reduction in operating hours,” a Wynn Resorts representative told Las Vegas Sun in a statement

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      Inside A Room At Encore at Wynn Las Vegas

      Vegas casinos shuttered operations from mid-March until June 4, due to the virus pandemic, when casinos reopened, public health mandates issued by the state limited indoor capacity. Besides consumer choices, mainly to avoid public areas as the virus continues to rage across the country, tourism in the Strip has been severely lagging – hotel occupancy rates in the city were down 50% in August compared with the same month in 2019, according to the Las Vegas Convention and Visitors Authority.

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      Casino Floor At Encore at Wynn Las Vegas

      Encore is not the first casino/resort to reduce operating hours because of weak demand – Palazzo’s hotel tower halted weekday reservations in July though left its casino, shops, and restaurants open during the week. Planet Hollywood Resort has limited its reservations during the weekdays. 

      Casino/resorts are “adapting their business to what we can get right now, and they’re smart about it,” Greg Chase, CEO of Experience Strategy Associates hospitality consulting group, told Las Vegas Review-Journal

      Chase said reducing operating hours is the first step resorts need to take to offset mounting costs and lower revenues.  

      While only a handful of resorts on the Strip are reducing operations on the weekdays, this trend could become more widespread as consumers stay home amid surging virus cases this fall. 

      If readers want any more clarity on a recovery timeline for the gambling hub, well, Las Vegas economic analyst Jeremy Aguero recently warned it could take 18 and 36 months for the recovery to play out

    • Coronavirus Counterfactual: A True Enemy Would Have Alerted Us In 2019
      Coronavirus Counterfactual: A True Enemy Would Have Alerted Us In 2019

      Tyler Durden

      Wed, 10/14/2020 – 19:25

      Authored by John Tamny via RealClearMarkets.com,

      With the coronavirus, the most frustrating counterfactual of all is to think about how much better off we all would have been if politicians had done nothing. Stop and think about it for a minute. The more desperate the situation, the more freedom makes sense. 

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      The reality is that well before the needless lockdowns began, Americans had started to adjust their behavior.

      This included staying at home for some. Notable about this is that it was in the U.S. states that locked down the latest that citizens adjusted the most. In a global sense, it was reported by the great Holman Jenkins that the supply of masks had run out before major action by Merkel et al in Germany. People get it. They don’t need a law. Fear of sickness or death concentrates the mind.

      Remember how restaurants started to clear somewhat before the lockdowns? People were adjusting. Imagine if businesses, including restaurants, had been left free to meet the needs of customers (or not at all) free of business tips from those who brought us the DMV.

      No doubt some businesses would have gone under amid fear of the virus, but they were already going under before that. Particularly retail. Remember all the hand wringing about Amazon and the internet “hollowing out” shopping malls? While the nailbiters will eventually regret the association of their names with such alarmism, the reality in a dynamic economy is that the roster of names in shopping malls and town centers is constantly changing.

      The main thing is that near-term caution taken by free people would have resulted in more saving, and as a consequence a rising capital base for businesses and entrepreneurs to access on the way to recovery. Natural slowdowns paradoxically fuel the subsequent rebound. Translated, what you’ve been told about “recessions” by economists, pundits and politicians is mostly bunk. This wasn’t nor is it a recession; rather it was a forced contraction. Tragic.

      Politicians foisted on us lockdowns that wrecked lives and business.

      Economic growth produces the resources to fight a virus, but this time around an always obtuse political class outdid itself by choosing economic desperation as the path to a cure.

      There’s a China angle to this, though perhaps not what you think.

      It’s known the virus originated there, and the first documented infection dates back to November.

      November raises a question about when the virus first began spreading. Presumably before that, but since over half don’t know they have it, who knows? The main thing is that the virus had been around the global block as it were well before January when Beijing officially acknowledged its existence.

      So what if China had announced the virus right away. Then we would know they were the enemy. Think about it, scary as it may be.  It’s frightening to contemplate because it’s possible an alarmist political class locks down even sooner. Perhaps months sooner. If so, and quoting Jenkins from his Wall Street Journal column over the weekend, “the economy wouldn’t have fallen off a cliff in March,” but maybe months sooner. It gets worse.

      Contemplate what it means that the virus started spreading in November, and perhaps earlier. What it presumably means is that the virus had been traveling around the world for months before politicians began calling for lockdowns. If so, it’s not unrealistic to at least ask if broad immunity hadn’t begun to form long before the political reaction. Was “herd immunity” achieved before March?

      This was a question posed by me the weekend before last in Great Barrington, MA. The American Institute for Economic Research is headquartered there, and that’s where the Great Barrington Declaration was written. In response to my question about “herd immunity” having possibly already asserted itself before the global political meltdown, Oxford professor Sunetra Gupta confirmed that she’d speculated just that in March of 2020, and right as the lockdowns began. If the virus moves around with easy rapidity, why wouldn’t it have begun spreading with abandon toward the end of 2019; thus setting the stage for broader immunity before politicians acted like politicians?

      If so, China’s early quietude about the virus should be a relief. How awful if early alarm had brought on a much earlier political crack-up such that the lockdowns began in December 2019 or January of 2020. Not only would the economic suffocation have begun months earlier, but assuming lockdowns actually work in terms of slowing the spread of the virus, we’d presumably be much further away from broad immunity today. A much weaker economy combined with nail-biting politicians delaying the spread necessary to achieve immunity.

      About what’s been written, it’s worth at least asking about. No medical expert here, what’s been asked doesn’t seem unreasonable in consideration of how experts say virus spread can be restrained: through isolation. Ok, but if it was spreading for months before March, weren’t the lockdowns in mid-March and beyond pointless in addition to violating freedom, wrecking the global economy, and restraining the production of information that free people produce?

      Time will tell, but there’s an argument that the rhetoric about China gets dumber by the day. Considering survival rates that exceed 99%, it’s hard to ascribe something sinister. Why manufacture a virus that is so meek? As for delayed acknowledgement of it, how lucky that politicians, experts and their media enablers didn’t have a chance to lose their minds sooner. While there are many layers to the discussion of “China,” it’s hard not to be a little relieved they didn’t freak out the unreasonable sooner.

      Needless to say, the high survivability rate for the virus doesn’t square with some of the anger directed at China.

      The anger contradicts the survivability number, plus it excuses politicians, experts and pundits for their role in what’s easily the biggest unforced error of the 21st century; one that has hundreds of millions rushing toward starvation.

      All for what?

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    Today’s News 14th October 2020

    • Initial Influencer Public Offering: Italian Instagram Star Chiara Ferragni Wants To Take Herself Public
      Initial Influencer Public Offering: Italian Instagram Star Chiara Ferragni Wants To Take Herself Public

      Tyler Durden

      Wed, 10/14/2020 – 02:45

      Italian Instagram star (whatever that means) Chiara Ferragni looks to be the first “professional influencer” set to try out a smash and grab job on the public markets by going public through an initial public offering.

      In what would be a first for the influencer business model, Ferragni is considering going public in Milan, where she lives. She has 21 million Instagram followers and has signed partnerships with companies like Dior and Lancome. 

      Her goal is to “monetize the clothing-to-lifestyle persona she has built over a decade”, according to Reuters

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      Ferragni/Reuters

      Social media influencers have played a big role in the marketing plans of fashion companies globally. Influencers who build a reputation and “a certain look” can yield big chunks of fashion companies advertising budgets, who can sometimes set aside between 10% and 20% of their entire budget for influencer marketing. 

      Brands spent $6.5 billion on influencer marketing in 2019, up almost 4x from 2016. 

      Based on the 20 million euros Ferragni’s blog brought in during 2019, at a 4x sales multiple, it is estimated a public valuation for her group could be around 80 million euros when all is said and done. A small IPO on any scale, but the first of its kind nonetheless. 

      Recall, last year we wrote about how influencers in China were helping sell billions of dollars worth of products and services on an annual basis. Famous names in the U.S. like Rihanna and Kylie Jenner have also generated hundreds of millions of dollars in promoting beauty brands and fashion labels.  

      And as it relates to Ferragni; hell, it’ll probably still be a better buy than most SPACs out there – and, be honest – you’d buy shares if you could…

    • Swedish Health Chief Said Country Avoided Lockdown To Prevent "Pandemic Fatigue"
      Swedish Health Chief Said Country Avoided Lockdown To Prevent “Pandemic Fatigue”

      Tyler Durden

      Wed, 10/14/2020 – 02:00

      Authored by Paul Joseph Watson via Summit News,

      Swedish health chief Olivia Wigzell explained that her country didn’t impose the kind of draconian coronavirus lockdown seen in other European countries in order to prevent the public from developing “pandemic fatigue.”

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      At the start of the COVID-19 pandemic, Sweden chose to go for herd immunity by refusing to impose a hard lockdown, meaning bars, restaurants, gyms, workplaces and schools remained open and vulnerable people were told to shield while mandatory mask rules were avoided.

      Despite the mainstream media predicting that this would lead to massive fatalities, Sweden has recorded under 6,000 coronavirus deaths and now has the lowest death rate in Europe.

      The Scandinavian country’s GDP fared better than the rest of Europe and now large segments of the population have developed herd immunity, reducing the impact of any potential “second wave.”

      Illustrating how the country is already virtually back to normal, a young woman posted a video of herself boarding a train in Stockholm showing minimal social distancing and hardly anyone wearing masks.

      https://platform.twitter.com/widgets.js

      Now the director general of Sweden’s National Board of Health and Welfare reveals that one of the reasons the Swedish government chose not to impose a harsh lockdown was to prevent its population from development “pandemic fatigue.”

      “We did not choose the path of a complete lockdown of society, because we had other arguments for a systematic response to a pandemic,” said Olivia Wigzell during the Pandemic 2020: Challenges, Solutions, Consequences conference, which was held in Moscow.

      “We were very afraid, we feared that people would develop such a pandemic fatigue, that people would get tired of restrictions. But in Sweden, practically everyone followed the recommendations,” she added.

      Sweden’s health care system was never overwhelmed, even at the height of the pandemic, and the country is now in a better position than any other country on the continent, virtually all of which continue to follow disastrous lockdown policies.

      *  *  *

      In the age of mass Silicon Valley censorship It is crucial that we stay in touch. I need you to sign up for my free newsletter here. Also, I urgently need your financial support here.

    • 60 US Warplanes Buzzed Islands Near China In September: Beijing Think Tank
      60 US Warplanes Buzzed Islands Near China In September: Beijing Think Tank

      Tyler Durden

      Wed, 10/14/2020 – 01:00

      Concern over escalating tensions between Washington and Beijing have been center stage in 2020. Risks are increasing that both of the globe’s superpowers are preparing for a future conflict. 

      The escalating Sino-American power struggle is playing out in many places worldwide – whether in trade, technology, or military

      Take, for instance, a South China Morning Post (SCMP) report, citing a Beijing think tank that said at least 60 US warplanes conducted reconnaissance flights near China in September. 

      Chinese government-backed South China Sea Strategic Situation Probing Initiative (SCSPI) said the latest flights near China could suggest the US is preparing for “future long-distance missions” in the South China Sea. 

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      SCSPI said 60 military jets flew near China in September, with 41 flying over the heavily disputed South China Sea, six over the East China Sea, and 13 over the Yellow Sea. There was a notable increase in aerial refueling aircraft, suggesting the US military is conducting training missions for future long-distance attacks against Chinese military targets in the South China Sea. 

      SCSPI outlined some of the air refueling missions were considered “unusual.” 

      “It’s unusual for the US to dispatch fuel tankers from Guam [instead of from Kadena airbase in Japan] because such operations are uneconomical and inefficient,” SCSPI said. “Such operations are more probably preparing for future long-distance refueling in extreme conditions, and thus deserve significant attention.

      “This showed that the South China Sea region is still the US’ primary focus, but what is equally notable is that activities in the Yellow Sea region had a marked increase when compared with the sporadic activities two months ago.” 

      SCSPI said the total number of US military flights around the area were the same in July and August – but noted that the real numbers were unknown because some of the aircraft were “disguised as civil planes or did not turn on transponders.” 

      We noted this last month, pointing out how US spy planes flying around China changed transponder codes to disguise themselves as commercial aircraft. 

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      Last month, China’s foreign ministry called the concealment of American warplanes in the region a “serious security threat,” with Chinese foreign ministry spokesman Wang Wenbin issuing the following statement: 

      “It’s a common trick for the US Air Force to impersonate the transponder code of civilian aircraft from other countries … It is of a vile nature,” the FM spokesman said.

      “We urge the US to immediately stop such dangerous provocations, to avoid accidents from happening in the sea and air.” Wang described Chinese records of American spy plane activity in the area as “incomplete.”

      Ben Ho, an associate research fellow at the S. Rajaratnam School of International Studies in Singapore, told SCMP that aerial refueling tanker deployments should be seen as the pentagon’s contingency options: 

      “The US deployment of aerial tankers from Guam rather than Okinawa hints at the much-talked-about contingency where Chinese missiles knock out bases on the Japanese island during the opening stages of a Sino-American conflict,” Ho said.

      “[It] also shows that Washington is hedging against the possibility that Japan refuses US forces [being] stationed on its soil to be deployed against China. Under these two circumstances, America has no choice but to fall back to Guam.

      “My biggest worry is that China will seek to exploit any internal unrest or political distraction in the US following the US presidential election, to move aggressively against Taiwan or in the South China Sea. 

      “The US has to deter such an act, and these types of training missions are part of that – forward presence and resolve being communicated to Beijing,” he said. 

      And maybe conflict between both countries is ahead. President Trump recently said China “will pay a big price” for the unprecedented havoc wrought by the virus on modern society.

    • The Cultural Failure That Makes Spouting Nonsense About Trump Possible
      The Cultural Failure That Makes Spouting Nonsense About Trump Possible

      Tyler Durden

      Tue, 10/13/2020 – 23:40

      Authored by Conrad Black, op-ed via The Epoch Times,

      The unutterable nonsense that President Trump is somehow responsible for the plan of a group of lunatics in Michigan to kidnap their governor, Gretchen Whitmer, succeeds the asinine theory that Trump was endangering the health of his security unit by driving around the block at Walter Reed Hospital in his car last week waving to well-wishers.

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      Like an immense mythological monster, Media Trump Hate must be hurled each week, or sometimes more often, in an arsenic-laced dosage of malicious fiction at the Trump campaign.

      There have been so many of them that very few can now be remembered even those that were momentarily taken seriously by reputable observers, such as the idea that lawyer Michael Cohen paying blackmail to Stormy Daniels, constituted an illegal campaign donation.

      Since Trump paid Cohen’s bill for allegedly unspecified services it wasn’t a donation and since Stormy was trying to do the blackmailing, it was only an offense in the demented imagination of CNN’s momentarily favored candidate for president, Stormy’s beleaguered counsel Michael Avenatti, (whom she soon fired for over-billing).

      The governor’s own erratic imagination suggested that Trump somehow motivated those who imagined that they could kidnap the governor of Michigan and extract concessions while the rest of the country including the federal government looked on as if it was an attempted coup d’état in Nagorno-Karabakh.

      Since Trump had been highly critical of her encroachment upon the First Amendment rights of assembly of the people of Michigan, by restricting their ability to engage in most collective activity including churchgoing, and in the absence of convincing evidence that such impositions reduce the incidence of the coronavirus, the governor naturally accused the president of inciting criminal and life-threatening behavior directed at her.

      This is the Red Queen school of evidence-gathering and prosecution followed by almost the entire U.S. media in respect of the president. This is the same refined school of jurisprudence exhibited by that well-known jurisconsult Don Lemon (CNN) when he declares that any reference by President Trump to the existence of any human beings of a different pigmentation to himself constitutes “a racially charged statement.”

      Nothing could be simpler: the week has not gone by when the president has said or done something or failed to say or do something which must be assumed to be the cause of a real or apprehended unpleasant event.

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      There doesn’t seem to be much evidence that the public is particularly convinced by the sort of thing though the 40 percent or so of Americans who dislike the president are pretty indulgent of such imputations, no matter how implausible they may be. But the majority seem not to pay much attention to it.

      Media Credibility

      One of the many things that is generally lost sight of in this election is that it is as much a test of some other people and institutions as it is of the president himself. The overwhelming majority of the national political media have determined that the fate of the Trump presidency is a matter of life and death to their own credibility.

      Over 90 percent of the national political media opposed Trump’s election in 2016 and have continued with unvarying stridency to oppose his incumbency and his reelection. If in these media-hostile circumstances he is reelected, it will be a decisive defeat for the ancient and rarely questioned ability of the media to raise up and tear down officeholders.

      If Trump manages to overcome this extreme and almost uniform animosity of the media, they will surely, finally have to consider the possible necessity of trying once again to separate reporting from comment, and returning to the ancient wellsprings of the dignity and indispensability of the free press.

      All polls indicate that despite the frenzied and relentless efforts of almost all of the national media to destroy the president, he is respected and admired by approximately three times as great a percentage of the American public as are the media, who have the questionable distinction of being on all fours butting heads with the United States Congress in the lowest ranks of public esteem.

      There is an inborn danger to democracy itself and the entire constellation of rights and beliefs that go with it when the public are contemptuous of their legislators and of the free press. Ultimately in political societies those institutions of which the public is contemptuous are dispensed with; we must surely be a considerable distance from that point still in the United States, but it is an unhealthy and a worrisome condition.

      Public Education

      The palsied state of the media is largely a phenomenon of the collapsed state of public education. It is one of the great and haunting ironies of our entire Western civilization that the more money we consecrate as societies to education and especially higher education, the less educated the graduates we produce, and the less capable they are of pursuing economically self-sustaining careers on the basis of what they purport to have studied.

      Teachers’ unions have reduced many schools to the level of mere daycare centers, and lazy, underworked and tendentious university faculties have imparted what is technically described as white oikophobia: national self-hate, to American students. Universities have largely become unemployment-deferral centers where scandalous amounts of resources are squandered on obscure subjects. The Canadian public intellectual Jordan Peterson makes the point that nothing described as “studies” is in fact an authentic academic subject.

      If we start from the premise that in terms of the quality of its information the traditional media is a disgrace, we soon will get to the worrisome fact that the only way to deal with that is to have a more informed and demanding public. Since the media are the problem they are not going to generate that progress in the taste of their readers and viewers and listeners, so a more informed public can only be the result of educational endeavors.

      Only when schools actually teach students to do necessary things, to develop some intellectual curiosity, and some aptitude to study and concentrate, and universities are obliged by those who fund them to observe reasonable standards of objective truth in teaching humanities, and to avoid squandering excessive quantities of their resources on subjects of no possible relevance to any but a handful of the curious and the eccentric, will the population slowly develop the intelligence necessary to demand better service from news and entertainment providers. And only then will advertisers require more product-integrity also.

      As it is we have major sports leagues prostrated in self-abasement before the totalitarian regime of China while domestically, vastly overpaid players for vastly overvalued franchises mock the national anthem and the flag and demand the abolition of the police and of prisons.

      More contemptible than these hypocritical agitators are the flabby white sports executives who go along with them rather submissively, including National Football League Commissioner Roger Goodell. They have buckled to the players and offended the fans. The silent majority lives, but like everyone else in Trump’s America, is confused.

      The Trump administration is pledged to promote better schools through private, charter, faith-based, and community organized schooling, and to incentivize more responsible universities. If the administration is not reelected the country will be significantly further down the well.

      But whatever the outcome of the election it is a profound problem that will ultimately threaten the entire society: a more educated population is necessary to produce a more accurate media to increase the value the nation places on the democratic rights that it exercises. Whether the president wins or loses in November, the country will not be able to go on blaming everything on him much longer.

    • This Is What It Looks Like When A Supermassive Black Hole "Eats" An Entire Star
      This Is What It Looks Like When A Supermassive Black Hole “Eats” An Entire Star

      Tyler Durden

      Tue, 10/13/2020 – 23:20

      While you were sitting around scratching your ass, watching Seinfeld re-runs and pondering whether or not you should have Chinese food or pizza for dinner, a supermassive black hole was in the process of devouring a star 215 million light years away.

      And scientists have published a rendering of exactly how it happened.

      On Tuesday, RT posted the moment that astronomers were able to capture the death of a star from what is called a “tidal disruption event”. Astronomers were alerted to the event due to a “intense flash of light” that was visible hundreds of millions of light years away, before a star disappeared into a black hole’s event horizon. 

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      The TDE was discovered in September 2019 and was observed for the next six months. These events are “almost impossible to predict” and are rarely ever witnessed, but for periods of “constant surveillance” of the sky. This event occurred in the constellation of Eridanus and astronomers were able to direct numerous telescopes in that direction once the initial flash was observed. 

      Thomas Wevers, based at the University of Cambridge, said: “We immediately pointed a suite of ground-based and space telescopes in that direction to see how the light was produced.”

      Participating observatories included the European Southern Observatory’s Very Large Telescope and New Technology Telescope, the Las Cumbres Observatory global telescope network, and the Neil Gehrels Swift Satellite.

      The process is so intense that, at times, it “outshines” its host galaxy before fading into oblivion. Observers said this star was, at one point, roughly the mass of our own sun. The black hole that absorbed it was “a million times more massive”. 

      The observation provided direct evidence of the outflowing of gas during these events, which had been theorized but never observed. “The black hole launched powerful jets of dust outward at velocities up to 10,000 km/s as it was eating the star,” RT noted. 

      Astronomer Edo Berger of the Harvard-Smithsonian Center for Astrophysics concluded: “This event is teaching us about the detailed physical processes of accretion and mass ejection from supermassive black holes. [It is a] Rosetta stone for interpreting future TDE observations.”

    • "Facts Do Not Matter" To The Covidian Cult
      “Facts Do Not Matter” To The Covidian Cult

      Tyler Durden

      Tue, 10/13/2020 – 23:00

      Authored (mostly satirically) by CJ Hopkins via The Consent Factory,

      One of the hallmarks of totalitarianism is mass conformity to a psychotic official narrative. Not just a regular official narrative, like the “Cold War” or the “War on Terror,” or even a myth like the “American Dream.” A totally delusional official narrative that has little or no connection to reality and that is contradicted by a preponderance of facts.

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      Nazism and Stalinism are the classic examples, but the phenomenon is better observed in cults and other sub-cultural societal groups. Numerous examples will spring to mind: the Manson family, Jim Jones’ People’s Temple, the Church of Scientology, Heavens Gate, etc., each with its own psychotic official narrative, i.e., Helter Skelter, Christian Communism, Xenu and the Galactic Confederacy, and so on.

      Looking in from the dominant culture (or back through time in the case of the Nazis), the delusional nature of these official narratives is glaringly obvious to most rational people. What many fail to understand is that to those who fall prey to them (whether individual cult members or entire totalitarian societies) such narratives do not register as psychotic. On the contrary, they feel entirely normal. Everything in their social “reality” reifies and reaffirms the narrative, and anything that challenges or contradicts it is perceived as an existential threat.

      These narratives are invariably paranoid, portraying the cult as threatened or persecuted by an evil enemy or antagonistic force which only unquestioning conformity to the cult’s ideology can save its members from. It makes little difference whether this antagonist is mainstream culture, body thetans, counter-revolutionaries, Jews, or a virus. The point is not the identity of the enemy. The point is the atmosphere of paranoia and hysteria the official narrative generates, which keeps the cult members (or the society) compliant.

      In addition to being paranoid, these narratives are often internally inconsistent, illogical, and … well, just completely ridiculous.

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      This does not weaken them, as one might suspect. Actually, it increases their power, as it forces their adherents to attempt to reconcile their inconsistencies and irrationality, and in many cases utter absurdity, in order to remain in good standing with the cult. Such reconciliation is of course impossible, and causes the cult members’ minds to short circuit and abandon any semblance of critical thinking, which is precisely what the cult leader wants.

      Moreover, cult leaders will often radically change these narratives for no apparent reason, forcing their cult members to abruptly forswear (and often even denounce as “heresy”) the beliefs they had previously been forced to profess, and behave as if they had never believed them, which causes their minds to further short circuit, until they eventually give up even trying to think, and just mindlessly parrot whatever nonsensical gibberish the cult leader fills their heads with.

      Also, the cult leader’s nonsensical gibberish is not as nonsensical as it may seem at first. Most of us, upon encountering such gibberish, assume that the cult leader is trying to communicate, and that something is very wrong with his brain. But the cult leader’s intention is not to communicate. His intention is to disorient and control the listener’s mind. Listen to Charlie Manson “rapping.” Not just to what he says, but how he says it. Note how he sprinkles bits of truth into his stream of free-associated nonsense, and his repetitive use of thought-terminating clichés, described by Robert J. Lifton as follows:

      “The language of the totalist environment is characterized by the thought-terminating cliché. The most far-reaching and complex of human problems are compressed into brief, highly selective, definitive-sounding phrases, easily memorized and easily expressed. They become the start and finish of any ideological analysis.”

      – Thought Reform and the Psychology of Totalism, 1961

      If all this sounds familiar, good.

      Because the same techniques that most cult leaders use to control the minds of the members of their cults are used by totalitarian systems to control the minds of entire societies… Milieu Control, Loaded Language, Sacred Science, Demand for Purity, and other standard mind-control techniques. It can happen to pretty much any society, just as anyone can fall prey to a cult, given the right set of circumstances.

      It is happening to most of our societies now. An official narrative is being implemented. A totalitarian official narrative. A totally psychotic official narrative, no less delusional than that of the Nazis, or the Manson family, or any other cult.

      Most people cannot see that it is happening, for the simple reason that it is happening to them. They are literally unable to recognize it. The human mind is extremely resilient and inventive when it is pushed past its limits. Ask anyone who has struggled with psychosis or has taken too much LSD. We do not recognize when we are going insane. When reality falls apart completely, the mind creates a delusional narrative, which appears just as “real” as our normal reality, because even a delusion is better than the stark raving terror of utter chaos.

      This is what totalitarians and cult leaders count on, and exploit to implant their narratives in our minds, and why actual initiation rituals (as opposed to purely symbolic rituals) begin by attacking the subject’s mind with terror, pain, physical exhaustion, psychedelic drugs, or some other means of obliterating the subject’s perception of reality. Once that is achieved, and the subject’s mind starts desperately trying to construct a new narrative to make sense out of the cognitive chaos and psychological trauma it is undergoing, it is relatively easy to “guide” that process, and to implant whatever narrative you want, assuming you have done your homework.

      And this is why so many people — people who are able to easily recognize totalitarianism in cults and foreign countries — cannot perceive the totalitarianism that is taking shape now, right in front of their faces (or, rather, right inside their minds). Nor can they perceive the delusional nature of the official “Covid-19” narrative, no more than those in Nazi Germany were able to perceive how completely delusional their official “master race” narrative was. These people are neither ignorant nor stupid. They have been successfully initiated into a cult, which is essentially what totalitarianism is, albeit on a societal scale.

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      Their initiation into the Covidian Cult began in January, when the medical authorities and corporate media turned on The Fear with projections of hundreds of millions of deaths and fake photos of people dropping dead in the streets. The psychological conditioning has continued for months. The global masses have been subjected to a constant stream of propaganda, manufactured hysteria, wild speculation, conflicting directives, exaggerations, lies, and tawdry theatrical effects. Lockdowns. Emergency field hospitals and morgues. The singing-dancing NHS staff. Death trucks. Overflowing ICUs. Dead Covid babies. Manipulated statistics. Goon squads. Masks. And all the rest of it.

      Eight months later, here we are. The Head of the Health Emergencies Program at the WHO has basically confirmed an IFR of 0.14%, approximately the same as the seasonal flu.

      And here are the latest survival rate estimates from the Center for Disease Control:

      • Age 0-19 … 99.997%

      • Age 20-49 … 99.98%

      • Age 50-69 … 99.5%

      • Age 70+ … 94.6%

      The “science” argument is officially over. An increasing number of doctors and experts are breaking ranks and explaining how the current mass hysteria over so-called “cases” (which now includes perfectly healthy people) is essentially meaningless propaganda, for example, in this segment on ARD, one of the big mainstream German TV channels.

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      And then there is the existence of Sweden, and other countries which are not playing ball with the official Covid-19 narrative, which makes a mockery of the ongoing hysteria.

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      I’m not going to go on debunking the narrative. The point is, the facts are all available. Not from “conspiracy theorist” websites. From mainstream outlets and medical experts. From the Center for Fucking Disease Control.

      Which does not matter in the least, not to the members of the Covidian Cult. Facts do not matter to totalitarians and cult members. What matters is loyalty to the cult or the party.

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      Which means we have a serious problem, those of us to whom facts still matter, and who have been trying to use them to convince the Covidian cultists that they are wrong about the virus… for going on eight months at this point.

      While it is crucial to continue reporting the facts and sharing them as widely as possible (which is becoming increasingly difficult due to the censorship of alternative and social media), it is important to accept what we are up against. What we are up against is not a misunderstanding or a rational argument over scientific facts. It is a fanatical ideological movement. A global totalitarian movement … the first of its kind in human history.

      It isn’t national totalitarianism, because we’re living in a global capitalist empire, which isn’t ruled by nation-states, but rather, by supranational entities and the global capitalist system itself. And thus, the cult/culture paradigm has been inverted. Instead of the cult existing as an island within the dominant culture, the cult has become the dominant culture, and those of us who have not joined the cult have become the isolated islands within it.

      I wish I could be more optimistic, and offer you some sort of plan of action, but the only historical parallel I can think of is how Christianity “converted” the pagan world, which doesn’t really bode so well for us. While you’re sitting at home during the “second wave” lockdowns, you might want to brush up on that history.

    • "Supercar Of The Sea" – Conor McGregor Buys 4000HP Lamborghini Racing Yacht
      “Supercar Of The Sea” – Conor McGregor Buys 4000HP Lamborghini Racing Yacht

      Tyler Durden

      Tue, 10/13/2020 – 22:40

      Mixed Martial Arts fighter, Dublin-born Conor McGregor announced on his Instagram page Monday that he purchased a Lamborghini superyacht. 

      Lamborghini has always been synonymous with the need for speed on land. But now, a July partnership between Lamborghini and the Italian Sea Group is set to produce the new Tecnomar for Lamborghini 63, a carbon-fiber superyacht that is powered by twin-turbo V12 engines capable of producing 4,000 horsepower.  

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      McGregor said the vessel is the “Supercar of the Sea,” and he was honored to secure the “Number 12 edition of just 63 to be made.” 

      “The No.12 “McGregor edition” 🛥 @tecnomaryachts @lamborghini Lamborghini’s first entry into the Sport Yacht World comes in the form of this 63foot, 4000bhp, duel engine, twin-turbo, rocket ship! Titled the “Supercar of the Sea” I am honoured to secure the Number 12 edition of just 63 to be made. 1963 being the year Lamborghini first began, and 12 being, well you know Twelve! Proper Fucking Twelve baby! Ain’t no stopping it! @properwhiskey Thank you Giuseppe Constantino and the entire team at “The Italian Sea Group” for your amazing work! Excited to see the finished result during next seasons yachting season ❤️,” McGregor posted on Instagram. 

      McGregor and his family at the unveiling event. 

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      The Lambo yacht… 

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      McGregor choosing colors for the new vessel, presumably it has yet to be built.

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      Tecnomar for Lamborghini 63 Promotional Video 

      McGregor is all about Lamborghini cars – and maybe his rationale today is why not own a Lambo yacht.

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      Tecnomar for Lamborghini 63 could be ready as soon as early 2021. 

    • The Barbarians Are Threatening Us!
      The Barbarians Are Threatening Us!

      Tyler Durden

      Tue, 10/13/2020 – 22:20

      Authored by Alastair Crooke via The Strategic Culture Foundation,

      Now, as we enter the final month of the U.S. election, the expected climax to long-buried animosities is at hand. It is unlikely to be brief or decisive. The internal convulsions of the U.S. however, are one thing. But the implosion of social trust in the U.S. is radiating out, and its effects are radiating out across the globe. If the imprecarity of our times – compounded by the virus – is making us nervous and tense, it may be because we intuit that a way-of-life, a way-of-economics, too, is coming to its end.

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      The fear of social upheaval sows distrust. It can produce the spiritual state that Emile Durkheim called anomie, a feeling of being disconnected from society; a conviction that the world around one is illegitimate and corrupt; that you are invisible – a ‘number’; a helpless object of hostile repression, imposed by ‘the system’; a feeling that nobody is to be trusted.

      Russian nineteenth century literature, including novels by Dostoevsky, chronicled how such feelings amongst the children of the Russian well-to-do could evolve into burning hatred. This hatred extended to nail-bombs hurled into smart cafés, in order “to see how the foul bourgeois will squirm in death agony”.

      The West’s post-war era largely was defined by the ‘Woodstock’ generation: an era in which the rich (white) 20% of the globe lived in a consumer paradise of choice and over-consumption, whilst the 80% non-white, did not. That generation lived at a period of relative cultural cohesion and social stability – and rarely was called upon to make sacrifice or to endure hardship. It was the era of one ‘easy-decision’ after the other, building up to an ethos that put personal liberty above every other value, including social obligation.

      The emerging generations of today, David Brooks argues in The Atlantic, “enjoy none of that sense of security. They grew up in a world in which institutions failed, financial systems collapsed, and families were fragile. Yet human beings need a basic sense of security in order to thrive, as the political scientist Ronald F. Inglehart puts it: their “values and behaviour are shaped by the degree to which survival is secure””.

      The values of the Millennial and Gen Z generations that will dominate in the years ahead are the opposite of Boomer values: not liberation, but security; not freedom, but equality; not individualism, but the safety of the collective; not sink-or-swim meritocracy, but promotion on the basis of social justice…

      Distrustful people try to make themselves invulnerable, armour themselves up in a sour attempt to feel safe… start to see threats that aren’t there.

      Brooks does not fully elaborate, but he is hinting at a key generational schism that is little appreciated: Millennials and Gen Z still look to (a reformed) politics for solutions, but some in the successor generation, Gen X, simply want to burn-down the system wholly.

      Here is the point: For the rest of the world – that 80% (with few exceptions) – there never was a stable post WW2 era of effortless over-consumption or institutional stability (except for a tiny slice of co-opted élites). For many, it was an era racked by conflict, personal, financial insecurity, and violence. Is it any surprise then, that their national consciousness became transformed? That new norms and beliefs, new values for what is admired and disdained arose? Power was renegotiated mostly amidst severe civil convulsion, not the calm of settled society.

      Former Indian Ambassador, MK Bhadrakumar, writes:

      “The disintegration of the former Soviet Union in 1991 was a geopolitical disaster for Russia. But the watershed event, paradoxically, prompted Moscow and Beijing, erstwhile adversaries, to draw closer together, as they watched with disbelief the United States’ triumphalist narrative of the end of the Cold War, overturning the order they both had regarded, despite all their mutual differences and disputes, as crucial for their national status and identities.

      “The Soviet collapse resulted in great uncertainty, ethnic strife, economic deprivation, poverty, and crime for many of the successor states, in particular for Russia. And Russia’s agony was closely observed from across the border, in China. The policymakers in Beijing studied the experience of Soviet reforms, in order to steer clear of the “tracks of an overturned cart.”

      “[Soon after, Xi Jinping spoke about the former Soviet Union]: In December 2012, he spoke of “political corruption,” “thought heresy,” and “military insubordination” as reasons for the decline of the Soviet Communist Party: “One important reason was that ideals and beliefs were shaken.” In the end, Mikhail Gorbachev just uttered a word, declaring the Soviet Communist Party defunct, “and the great party was gone just like that. In the end, there was not a man brave enough to resist, no one came out to contest (this decision).”

      “A few weeks later, Xi revisited the topic and reportedly said … there was a complete denial of Soviet history, denial of Lenin, denial of Stalin, pursuit of historical Nihilism, confusion of thought; local party organisations were almost without a role. The military was not under the Party’s oversight. “In the end, the great Soviet Communist Party scattered like birds and beasts. The great Soviet socialist nation fell to pieces. This is the road of an overturned cart! …”

      “In Xi’s words, “The Soviet Communist Party had 200 thousand members when it seized power; it had 2 million members when it defeated Hitler, and it had 20 million members when it relinquished power … For what reason? Because the ideals and beliefs were no longer there.”

      “But where Putin and Xi Jinping come together… is their shared appreciation of China’s astonishing sprint to the ranks of an economic superpower. In Putin’s words, China “managed in the best possible way, in my opinion, to use the levers of central administration (for) the development of a market economy … The Soviet Union did nothing like this, and the results of an ineffective economic policy impacted the political sphere.”

      David Brooks’ Atlantic essay is centred on America’s current collapse of social trust – trust, he says, is a measure of the moral quality of a society. His is, he says, an account of how, over the past few decades, America became “a more untrustworthy society… Americans today experience more instability than at any period in recent memory – fewer children growing up in married two-parent households, more single-parent households, more depression, and higher suicide rates”.

      People today live in what the late sociologist Zygmunt Bauman called Liquid Modernity – all the traits that were once assigned to you by your community, you must now determine on your own: your identity, your morality, your gender, your vocation, your purpose, and the place of your belonging.

      What Brooks does not address however, is how Americans’ distrust of each other, and for anyone other than themselves, being an empire, has impacted, more widely, on the geo-political order, and on perceptions of the proper management of economies – which in the case of Russia and China, are drawn from the experience of earlier convulsions of their own.

      Distrust is spreading today faster than the Coronavirus.

      Russia is de-coupling from Europe, because it no longer trusts Europe. A huge shift. Seventy-five years after the end of WW2, German militarism and nationalism is stirring — and its élites are once again targeting Russia:

      “Berlin is ending the era launched by Gorbachev of a trusting and friendly relationship with Moscow. Russia, for its part, no longer expects anything from Germany, and therefore does not feel obliged to take into account its opinion or interests”, says the respected Moscow-based Carnegie bureau chief, Dmitri Trenin.

      Russia is observing that Europe is in the process of constructing a western anti-Russian platform. The era that begun in the wake of the fall of the Berlin Wall seems to be expiring. Yet, is this shift not a reflection of Europe’s own insecurities and social distrust, more than of some ‘threat’ that is emanating from Russia?

      It is Germany – and Europe – that is going through metamorphose: The EU is experiencing its own deficit of trust. Populist and skeptic parties are on the rise. Contempt for insiders and for the Brussels élites is spiraling, as is suspicion toward anybody who holds authority. And as Brooks points out, nervous leaderships are prone “to see threats that aren’t there”.

      The EU is deeply engaged in the attempt to reinvent itself as the torch-bearer of liberal and liberal-market values (absent the U.S.). The EU “wants to be stronger, more autonomous, and firmer”. And President Macron tells Europeans “they must root their belonging” in such values. He is attempting to rally Europe against the coming ‘age of empires’, thereby postulating that Europe should become a sort of ‘empire’ too, to compete and survive in the coming clash of the economic and tech giants.

      The problem for Russia is two-fold:

      It was Samuel Huntington, who writing in his Clash of Civilizations asserted that “the concept of a universal civilization helps justify Western cultural dominance of other societies and the need for those societies to ape Western practices and institutions.

      Well, firstly, Russia has for three centuries precisely refused the attempts to force her to ape western practices and institutions.

      And the second is, does Europe exist now as a coherent, bounded entity? Clearly not. And that means that Germany paying more heed to the complaints and prejudices of states such as Poland. Europe must build cohesion, if it is to imagine itself as the up and coming ‘middle empire’. Hence Belarus.

      Again, in a another sign of distrust ‘virus’ rippling its infection through the geopolitical space, this month, the Atlantic Council has highlighted how the ‘information space’ is allowing China to project the “China Story” – “i.e. to project [itself as] a positive image through storytelling in the media landscape, both domestic and abroad”. This is denounced as a cultural threat to the U.S. – the ‘threat’ of Chinese Discourse Power.

      As U.S. convulsions and Covid combined tear down the credibility of the ‘old free market economics’ of Adam Smith and the Chicago School, is it any surprise that China’s and Russia’s own experience of economic and political turmoil has drawn them to the use of their central administration, rather than just markets, for the development of their economic enterprise ecosystem. Or, that they are messaging this approach to others.

      Paradoxically the self-circulating, closed, national economy was, in any case, a western notion in the first place (should the Atlantic Council have not noticed).

      In 1800, Johann Fichte published The Closed Commercial State. In 1827, Friedrich List published his theories of national economics which took issue with the ‘cosmopolitan economics’ of Adam Smith and JB Say. In 1889, Count Sergius Witte, an influential politician and Prime Minister in Imperial Russia, published a paper titled National Savings and Friedrich List, which cited the economic theories of Friedrich List and justified the need for a strong domestic industry, protected from foreign competition by customs barriers.

      It is effectively the flip-side to the coin of Adam Smith. Russians, such as Sergei Glazyev, have been thinking about such things for years – and especially, since Russia was expelled from the G8.

      Finally, the salient question is: Are all this scattershot of expressions of distrust now reciprocated on all sides, something ephemeral? Are they simply a reflection of uncertain and disquieting times? Or, are we witnessing the build-up of explosive distrust? Explosive distrust is not just an absence of trust, or a sense of detached alienation – it is an aggressive animosity and an urge to destroy.

      Recall the experience of explosive distrust building in pre-revolutionary Russia:

      “Anyone wearing a uniform was a candidate for a bullet to the head or sulfuric acid to the face. Country estates were burnt down (‘rural illuminations’) and businesses were extorted or blown up. Bombs were tossed at random into railroad carriages, restaurants, and theaters … Yet, instead of the pendulum’s swinging back, the killing grew and grew, both in numbers and in cruelty. Sadism replaced simple killing”.

      “And how did educated, liberal society respond to such terrorism? What was the position of the Constitutional Democratic (Kadet) Party and its deputies in the Duma (the parliament set up in 1905)? The party leader, Paul Milyukov, declared that “all means are now legitimate … and all means should be tried”. When asked to condemn terrorism, another liberal leader then in the Duma, Ivan Petrunkevich, famously replied: ‘Condemn terror? That would be the moral death of the party!’.

      Well, explosive geo-political distrust is the belief that those states who disagree with you are not just wrong, but illegitimate and always threatening. They are the barbarians beyond the city walls.

    • Coronavirus & Sanctions Have Plunged Iran's Currency To Lowest Level In History
      Coronavirus & Sanctions Have Plunged Iran’s Currency To Lowest Level In History

      Tyler Durden

      Tue, 10/13/2020 – 22:00

      On Monday Iran announced it suffered its highest single-day death toll from the coronavirus since the pandemic began, with 272 confirmed dead, up from the 251 deceased from the disease the day before. The grim report also came alongside news that two senior government officials were infected – the head of Iran’s atomic energy organization as well as the country’s vice president.

      Out of a total population of just over 80 million, Iran has tallied more than 508,000 confirmed cases and 29,070 total deaths as of Tuesday, however, the true number of cases has long been believed to be much higher, even in the millions according to prior estimates of President Rouhani.

      Headlines of the record day for virus deaths plunged Iran’s currency to its lowest level ever. This also as there’s been a steady rise in daily cases, including 3822 new cases from the 24 hours of Saturday into Sunday, according to the AP.

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      Tehran file image

      The Islamic Republic remains the hardest hit country in the broader Middle East region, and early this year was the first to witness a major outbreak outside of China alongside Italy following discovery of the virus in Wuhan, China.

      “Money exchange shops in Tehran sold the US dollar at 315,000 rials on Sunday, compared to what was 32,000 rials to the dollar at the time of Iran’s 2015 nuclear deal with world powers,” AP notes.

      And on Monday it slipped slightly further:

      At the same time its spiraling currency, the rial, has been consistently falling to historic lows against the dollar, trading at 317,000 to the dollar on Tuesday afternoon London time, according to rial exchange site Bonbast.com. The greenback has gained 138% against the rial year-to-date. 

      Meanwhile, Iran’s leaders have blamed the United States for severely exacerbating the impact of the pandemic, essentially kicking the country while it’s already down, choking off even humanitarian and medical supplies via sanctions and threats against those willing to trade with Iran.

      “Amid Covid19 pandemic, U.S. regime wants to blow up our remaining channels to pay for food & medicine,” Foreign Minister Javad Zarif tweeted last week. “Iranians WILL survive this latest of cruelties.”

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      He charged that Washington is conspiring to starve the Iranian population in a “crime against humanity” and vowed that “Culprits & enablers—who block our money—WILL face justice.”

      The statements came after the US Treasury unveiled sweeping sanctions on Iran’s already struggling financial sector, including eighteen banks, including one tied to Iran’s military.

      In a new statement the head of Iran’s coronavirus task force warns that hospitals are overwhelmed: “We had not experienced this level of deterioration in the past seven or eight months… some hospitals are full and unable to admit new patients,” Masoud Mardani told Financial Times. “Continuation of this trend could lead to an eye-catching rise in the number of deaths.” 

    • Buchanan: Is War With China Becoming Inevitable?
      Buchanan: Is War With China Becoming Inevitable?

      Tyler Durden

      Tue, 10/13/2020 – 21:40

      Authored by Patrick Buchanan via Buchanan.org,

      “The Indians are seeing 60,000 Chinese soldiers on their northern border,” Secretary of State Michael Pompeo ominously warned on Friday.

      He spelled out what he meant to commentator Larry O’Connor:

      “The Chinese have now begun to amass huge forces against India in the north. … They absolutely need the United States to be their ally and partner in this fight.”

      Pompeo had just returned from a Tokyo gathering of foreign ministers from the Quadrilateral Security Dialogue, or “Quad,” the group of four democracies — U.S., Japan, Australia, India — whose purpose is to discuss major Indo-Pacific geostrategic issues.

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      Exactly what kind of “ally and partner” the U.S. is to be “in the fight” between India and China over disputed terrain in the Himalayan Mountains was left unexplained. We have no vital interest in where the Line of Control between the most populous nations on earth should lie that would justify U.S. military involvement with a world power like China.

      And the idea that Japan, whose territorial quarrel with China is over the tiny Senkaku Islands in the East China Sea, thousands of miles away, would take sides in a Himalayan India-China conflict also seems ludicrous.

      Yet, tensions are rising between the U.S. and China, as the list of ideological, political and economic clashes continues to lengthen.

      And there is a transparent new reality: China seems in no mood to back down.

      When, after a year of demonstrations for greater democracy, the Hong Kong government failed to quell the uprising, Beijing stepped in and took control. The U.S.-led democracies that had been cheering on the Hong Kong marchers and protesters did nothing, and they have done nothing since to reverse Xi Jinping’s political coup but prattle on about “values.”

      Lately, the democracies have been protesting, and rightly so, the inhumane treatment of the Uighur peoples in Xinjiang in China’s west.

      Han Chinese have been moved into the region to swamp the local population of Turkic and Muslim Uighurs and Kazakhs and bring about the demographic change Beijing desires. “Reeducation camps” have been established to cleanse Uighurs of their ethnic and religious identities and convert them into loyal and reliable Chinese Communists.

      In a speech in late September, Xi declared that Beijing’s policy of eradicating the ethnic and religious identity of the minorities of Xinjiang through state-driven education has proven “totally correct.”

      He vowed to imprint a Chinese identity “deep in the soul” of the peoples living there. “Our national minority work has been a success,” said Xi, “It must be held to for the long term.”

      Xi makes no apology for — indeed, he is proud of — using state power to impose the state ideology upon the peoples he rules, and he openly repudiates our democratic values as inapplicable in his country.

      Our rejection of China’s claims to virtually all of the reefs and atolls in the South China Sea is also being ignored. Beijing’s warnings grow louder and more pointed as the U.S. continues to send warships, the latest being the USS John McCain, close to islets claimed by China.

      What is our strategy here? Are we prepared for a naval and air clash in these waters? What would be the U.S. strategic goal?

      The Chinese are now responding angrily and defiantly to what they see as the provocations of sending high-level U.S. officials, and selling new weapons, to Taiwan, which China regards as its lost province.

      Again, what is our purpose in playing the Taiwan card now?

      If it is to provoke a fight, then are we prepared for a war in the Taiwan Strait or South China Sea? Do we think the Chinese will capitulate?

      Is this being done to “stand up to China” before Nov. 3?

      Which is the party here that is engaged in bluster and bluff and which is the party that seems deadly serious as it views its vital interests and territorial rights as challenged?

      There has been talk of the Quad evolving into an Asian NATO that embraces the major democracies in the Indo-Pacific Theater.

      But the essence of NATO is Article V, where the U.S. commits itself to treat an attack on any one of some 30 nations as an attack on us.

      Is there anything like this in the cards?

      Australia, Japan and the U.S. are not going to war with China over its border with India, or its ethnic concentration camps in Xinjiang, or its seizing Hong Kong and atolls in the South China Sea.

      When this election is over, this country has to think through what we are and are not willing to fight China for.

      Xi Jinping dismisses our concerns over Hong Kong and the Uighurs, and he appears willing to fight for Taiwan and for what Beijing holds in the South China Sea, rather than see it permanently lost.

      Are we?

    • Hawaii "Has Committed Suicide" – Local Rages "Hardly Anyone Is Sick, But We're All Broke"
      Hawaii “Has Committed Suicide” – Local Rages “Hardly Anyone Is Sick, But We’re All Broke”

      Tyler Durden

      Tue, 10/13/2020 – 21:20

      While we have grown used to the people (well, at least those who are capable for thinking for themselves) of Michigan and California complaining that the tyrannical COVID lockdown rules imposed by Governors Whitmer and Newsom are arbitrary and capricious (if not downright unconstitutional), it is less often we hear from those living on the beautiful islands of Hawaii.

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      For many ‘mainlanders’, the thoughts of a vacation to Hawaii (or anywhere but the apartment they have been suffering in for 7 months) are heavenly. However, as the following ‘rural Hawaiian’ exclaims in her Twitter thread, “Hawaii is committing suicide” with its “cargo-cult level bullshit” travel restrictions.

      ‘Mom Folding Laundry’ (@Folding_Laundry) begins her righteous rant as follows: “Guys… I cannot tell you how bad it is in Hawaii.”

      They cancelled our flight without telling us.

      It took an hour to get through the new security checkpoint. A guy there (a surgeon with an exemption) was telling the people to go ahead and arrest him.

      We had to check into a hotel in Oahu overnight. We can’t leave the room because we are technically “quarantined.”

      I have to fill out paperwork AGAIN to go from one island to our own.

      This is BULLSHIT.

      They think tourists are coming back in 4 days???)

      Hawaii has committed suicide.

      We may legit have to move. This is ridiculous .

      In closing, I will say this:

      Shut the fuck up about the “dangers of COVID.”

      What is happening in Hawaii is some cargo-cult level, praying to the gods for deliverance from the “plague”, bullshit.

      Hardly anyone is sick here.

      But we are all broke.

      At this point, I feel like the response to covid should have been managed at the federal level. This state to state bullshit is not working.

      I am a goddamn American. I am entitled to the same rights as any other American .

      I’m not even kidding that there were only like 50 people on our plane to Oahu from Seattle, and one of them [a surgeon] ended up yelling at airport security to go ahead and arrest him.

      The state of Hawaii is trying to detain him – even though he has surgeries to give in the morning.

      This man comes to Hawaii once a month to perform surgeries.

      Every month.

      They keep changing the regulations for entry.

      The state or Hawaii is denying their citizens ACCESS TO MEDICAL TREATMENT via their constant changing of their rules.

      This doesn’t even surprise me.

      Many of us here in Hawaii use medical services that come from other islands, or even from the mainland.

      Hawaii’s ridiculously overzealous travel restrictions are going to make it so that even FEWER doctors are available to serve the citizens

      The veterinarian who sees my horse normally flies in from Oahu.

      Until recently, he was the ONLY equine vet serving the island.

      Our only pediatric psychiatrist on island works 1/2 time on another island.

      These travel restrictions are not only cumbersome, but risk lives.

      [ZH: Hawaii has instigated an online ‘Safe Travels Program’ to track every movement in and out of the various islands]

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      I’m currently walking my kid through creating her own account and filling out her own paperwork online.

      She is 18. So she is required to have this.

      They wouldn’t let me do both of us on MY phone.

      She needs to do it on HER phone.

      What 18yos without phones do, I do not know.

      I have a doctoral degree, and struggled to figure this out.

      My kid would not have figured it out without me.

      The new travel requirements will trap Hawaii residents here as securely than if they were slaves.

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      And this is where people say I’m being hyperbolic… But at what point in the loss of your freedom do you speak up?

      h/t @DowdEdward

      *  *  *

      The thread prompted numerous sympathetic responses, included more than a few like this, signaling Trump’s support is on the rise…

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      And finally, here is ‘mom folding laundry’ with some advice:

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    • A Bailout For Hollywood Stars Next? World's Largest Movie Chain Prepares For Bankrutpcy
      A Bailout For Hollywood Stars Next? World’s Largest Movie Chain Prepares For Bankrutpcy

      Tyler Durden

      Tue, 10/13/2020 – 21:00

      In what may end up as the most poetic outcome of the covid crisis, one which has seen Hollywood’s starved-for-attention C-listers take their clothes off in hopes of attracting attention making a political stand for either wearing masks or supporting the one presidential candidate who has all but assured more nationwide lockdowns are coming (because scientists)…

      … Hollywood’s movie stars may be next in line for a taxpayer bailout.

      What could precipitate such an outcome? Well, if the primary source of revenue for Hollywood – namely billions in annual box office revenue – is indefinitely shuttered, then movie studios and producers would have no choice but to apply a very major haircut to those $20 million checks they hand out to the star du jour.

      Ironically, this is the outcome that appears increasingly likely and complies directly with Hollywood’s explicit demands for continued social and economic lockdowns. The reason: AMC Entertainment Holdings, also known as AMC Theaters, the largest movie theater chain in the world, is rapidly running out of cash and is considering “a range of options that include a potential bankruptcy to ease its debt load as the pandemic keeps moviegoers from attending and studios from supplying films” Bloomberg reports.

      In advance of what may be the biggest movie chain bankruptcy in history, lenders to AMC – who have hired Gibson Dunn as legal advisor and bankruptcy experts Greenhill & Co as bankers – have held preliminary talks among themselves about providing the movie-theater company with financing if it decides to file for Chapter 11 court protection, according to Bloomberg sources. And while the fresh cash would keep AMC in business while it crafts a recovery plan, absent a wholesale return to normalcy – which is unlikely until well into 2021 after there is not only a vaccine but a majority of the population is willing to get vaccinated – any liquidity injection would merely kick the can for a few months.

      AMC’s attendance since the resumption of business in the U.S. is down about 85% from the same period a year ago, the company said.

      It’s not just AMC: last week UK cinema chain Cineworld suspended operations because business is not viable as virus restrictions stand. Indeed, cinema chains are facing a chicken-and-egg problem with no near-term solution: As local capacity restrictions and audience skittishness keep U.S. theaters largely empty, studios are delaying most of their major film releases into 2021 and beyond, which gives consumers still less reason to buy tickets.

      In short, as Rabobank’s Michael Every said recently, “the movie industry – how we watch them, and so the money for how they are made, if they are made – could be dying, indicative of a whole key slice of the service-sector economy.”

      And while the situation “remains fluid and plans could change” according to the report, what really matters – at least to Hollywood – is that ticket sales have cratered because state and local officials are urging moviegoers to stay home. Ironically, so do Hollywood’s own stars.

      But in a delightful moment of poetic justice, this may be one of those times when Hollywood’s tiresome, grating virtue signaling finally comes back to bite it in the ass, and cause major monetary harm to the A (and B and C) listers. In fact, we wouldn’t be shocked if Hollywood demands a taxpayer bailout next just to keep those $20 million checks to the lead actors coming. Alas, in light of the total collapse in NFL, NBA and MLB viewership now that these organizations have also gone full-retard political activist, something which increasingly disgusts at least half of America, we doubt many, if any, taxpayers will line up to ensure that Hollywood’s liberals can afford to pay the property taxes on their $50 million mansions… although we are certain that those who pay no taxes will be most vocal in commiserating with Hollywood’s dire plight.

    • White House Approves Three Arms Sales To Taiwan As China's 'Retaliation' Threats Escalate
      White House Approves Three Arms Sales To Taiwan As China’s ‘Retaliation’ Threats Escalate

      Tyler Durden

      Tue, 10/13/2020 – 20:40

      Multiple sources have told Reuters that the Trump administration is proceeding with the sale of three weapons packages to Taiwan, a move resulting in a formal threat of retaliation based on statements of the Chinese embassy in D.C.

      This follows September reports that the US was looking at no less than seven different weapons systems to Taiwan, and now Congress has been officially notified about three of these by the White House. 

      They include long-range missiles made by Boeing, a Lockheed Martin produced truck-based rocket launcher, and external sensor pods for F-16 fighter jets. These are expected to be the first of more to come.

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      Taiwan military drills, file via Reuters

      Reuters further hinted at what may be next for State Department approval

      Notifications for the sale of other weapons systems, including large, sophisticated aerial drones, land-based Harpoon anti-ship missiles and underwater mines, to deter amphibious landings, have yet to reach Capitol Hill, but these were expected soon, the sources said.

      Predictably this was immediately met with a Chinese foreign ministry spokesperson slamming the arms transfers as a violation of China’s sovereignty and security, and a further call for the deals to be immediately canceled, accompanied by a vow of “retaliation” – though without specifying the form that would take.

      At last week’s annual US-Taiwan Defense Industry Conference, which was reported as taking place virtually, US officials had urged the Taipei to approve more for defense spending.

      In comments at a separate event last week, National Security Advisor Robert O’Brien said, “You can’t just spend 1 percent of your GDP [gross domestic product], which the Taiwanese have been doing – 1.2 percent – on defense, and hope to deter a China that’s been engaged in the most massive military build up in 70 years.”

      O’Brien proffered a strategy that militarily Taiwan needs to “turn themselves into a porcupine” because ultimately “Lions generally don’t like to eat porcupines.”

    • Pelosi Slams CNN's Wolf Blitzer: "You're Always An Apologist For Republicans"
      Pelosi Slams CNN’s Wolf Blitzer: “You’re Always An Apologist For Republicans”

      Tyler Durden

      Tue, 10/13/2020 – 20:32

      The world just turned upside-down for a few glorious minutes when CNN’s Wolf Blitzer removed his anti-Trump activist mask and dared to ask House Speaker Nancy Pelosi some uncomfortable questions.

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      The conversation about why the Democrats refused to accept the $1.8 trillion COVID Relief bill offered by The White House quickly turned ugly when Blitzer brought up the following tweet from one of her own – Democratic Congressman Ro Khanna…

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      Pelosi grinned awkwardly, then unleashed on the bearded reporter:

      I don’t know why you’re always an apologist and many of your colleagues are apologists for the Republican position… Ro Khanna, that’s nice. That isn’t what we’re going to do,” wagging her fingers in a matronly way.

      She went on briefly reverting to talking points about supporting “our heroes” by funding state and local governments, but in an uncharacteristic move, Blitzer refused to back off, “…there are million of Americans out there who can’t pay the rent, feed their kids and $1.8 trillion [is a lot]” adding that he’s also spoken with former Democratic presidential candidate Andrew Yang, who said to take the deal, “it’s not everything you want, but there’s a lot there.”

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      Pelosi was rattled – this is what what she signed up for ….

      Honest to God, I really can’t get over it. Because Andrew Yang, he’s lovely. Ro Khanna, he’s lovely. They’re not negotiating this situation… they have no idea…

      and then said “I didn’t come over here so you’re the apologist for the Obama…” but before she could correct her mis-speak, Blitzer fired back by urging her to reach out to the president and make a deal.

      “Why not work out a deal with [President Trump] and don’t let the perfect as they say here in Washington, be the enemy of the good?”

      That was the tipping point and Angry Nancy was exposed…

      What makes me amused if it weren’t so sad is how you all think that you know more about the suffering of the American people than those of us who are elected by them to represent them at that table... It is unfortunate that we do not share our values with this White House.”

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      More talking points gushed forth, not addressing any of the issues that Blitzer dared to utter. Pelosi exclaimed:

      With all due respect, and we’ve known each other a long time, you really don’t know what you’re talking about. . . Do a service to the issue and have some level of respect for the people who have worked on these issues, written the bill to begin with.”

      The cage-match ended even more stunningly as Blitzer and Pelosi spoke over each other, fighting for the last word…

      “Madam speaker, these are incredibly difficult times right now and we’ll leave on that note,” Blitzer said.

      “No, we’ll leave it on the note that you’re not right on this, Wolf, and I hate to say that to you,” Pelosi responded,

      Pelosi refused to allow Blitzer – the anhcor of the show – the final word on his show:

      “Thank you for your sensitivity to our constituents’ needs,” Pelosi said with dry sarcasm.

      “I am sensitive to them because I see them on the street begging for food, begging for money,” Blitzer said.

      “Have you fed them? We feed them,” she snapped as the show ended…

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      Watch the full 10 minutes here…

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      Did CNN just realize that if Trump loses, their viewership will truly go thru the floor?

    • The Unholy Mix Of Porn And Crypto Yield-Farming: Meet Swag.Finance
      The Unholy Mix Of Porn And Crypto Yield-Farming: Meet Swag.Finance

      Tyler Durden

      Tue, 10/13/2020 – 20:20

      Authored by Shuyao Kong via Decrypt.co,

      Blockchain protocol Swag.Finance is turning Swag.live, Asia’s biggest adult chat and porn site, into a truly decentralized community – complete with its own DAO, governance token and yield farming.

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      In brief

      • Blockchain protocol Swag.Finance is issuing its own tokens on Thursday to turn Swag.live, an Asia-focused porn site, into a truly decentralized community.

      • 625 million governance tokens will be issued, of which 25 million will be used for its DAO and 60 million will be distributed to community and influencers.

      Liquidity mining meets the porn industry? Welcome to the future, baby: On Thursday, blockchain protocol Swag.Finance plans to turn Swag.live, an Asia-focused porn site, into a truly decentralized community – complete with its own DAO, governance token and yield farming.

      Swag  appears to be based in Taiwan and claims to be the largest adult chat site in Asia. It has some 4 million users and tens of thousands of content providers. On October 15, the platform will  launch its native governance token, SWAG. A total 625 million governance tokens will be issued, of which 25 million will be used for its DAO and 60 million will be distributed to community and influencers. The rest will be distributed to the public through two events: a First Swap Event (FSE) and a Subsequent Swap Events (SSEs).

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      Swag is trying to fully decentralize.

      SQUIRT and CREAM

      What are these swaps and who is swapping with whom? The swaps are trading pairs on a decentralized exchange that permit users to do good old-fashioned  yield farming. For instance, users can swap SWAG with USDC, or C.R.E.A.M on cream.finance while also earning extra SWAG tokens as rewards.

      C.R.E.A.M ? Yeah. SWAG’s founder is believed to be the founder of cream.finance: Jeffery Huang, who is not only a crypto OG, but also brother of a famous Taiwanese singer Stanley Huang. Indeed, it’s possible that the SWAG project will help breathe a little life back into cream.finance, which has been on a downward trajectory of late.

      Coins with benefits

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      Swag claims to be Asia’s largest adult chat site.

      To encourage community participation, SWAG investors will have the perk of watching swag.live for free. It designed an incentive program called SQUIRT: Users who actively contribute to the platform through proposals, building, staking and problem-solving, are rewarded with either stablecoins or SWAG tokens based on rules set in the SQUIRT smart contract.

      “I was watching porn on swag.live anyway. Investing in the token seems logical to me,” one anonymous investor told Decrypt. 

      “What’s the worst case? The worst case is that the token goes to zero, but I still get the chance to enjoy the platform.”

      This is not the first time that the adult industry has used crypto, of course.

      From early public blockchain pioneers  such as Spankchain to Pornhub, which accepts crypto as a payment method, crypto has always had a love/love relationship with the adult industry. Its unique characteristics help the industry tackle issues such as privacy, payment and censorship.

      But SWAG.Finance could be the first to DeFi-ify the adult entertainment industry. Whether it ultimately works though  is still uncertain. Despite swag.live having been  profitable since 2017, it has largely functioned as a centralized entity. To decentralize it through token distribution is the first baby step. Crypto and the adult industry’s love affair continues.

    • US "Geoblocks" BLS And Census Websites For Hong Kong Internet Users
      US “Geoblocks” BLS And Census Websites For Hong Kong Internet Users

      Tyler Durden

      Tue, 10/13/2020 – 20:00

      The US has terminated access to two very important US federal websites for Hong Kong internet users, reported FT

      The Websites, the Bureau of Labor Statistics and the US Census Bureau, provide critical economic data for investors, is fueling continued tensions between Washington and Beijing over the semi-autonomous territory.

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      FT spoke with several US government agencies about the blocked websites for Kong Kong residents but received very little information about the ongoing situation. 

      A spokesperson at the Department of Labor, which includes the Bureau of Labor Statistics, declined to comment on the “security procedures” but said, “agencies began implementing geoblocks that included Hong Kong in January 2018.”

      “That would mean the measures started more than two years before the US punished the Asian financial center in response to Beijing’s introduction in June of a tough security law for Hong Kong. The US maintained that the security law meant Hong Kong was no longer sufficiently autonomous from mainland China,” FT said. 

      Considering Hong Kong is one of the world’s most important financial hubs, the blocking of both websites is not helpful for analyst and investors working in the area, though many are still able to access the US government data via a virtual private network, Bloomberg, Eikon, or FactSet terminal.

      Cliff Tan, a Hong Kong-based analyst and former head of East Asian global markets research at Japanese bank Mitsubishi UFJ Financial Group, told FT that access to both websites have been blocked for the last couple of months. 

      “Non-farm payroll data is arguably the most important economic statistic in the world,” Tan said.

      He said his VPN works just fine to access the websites.

      “I have a VPN but didn’t ever think I would need it in Hong Kong,” he said.

      A US government source, with direct knowledge about the situation, said more US federal government websites are expected to be blocked as Washington no longer recognizes Hong Kong as autonomous from mainland China. 

      US Cyber Command told FT it began geoblocking federal websites in 2017 to protect military websites and ensure “network availability” worldwide. The cyber agency wasn’t able to comment on why certain civilian websites were geoblocked. 

      Tensions between Washington and Beijing have been soaring under President Trump’s first term. The rift between both countries explode during the trade war and accelerated in 2020 following the virus pandemic. In July, Trump revoked Hong Kong’s special trading status after Beijing imposed national security law.

      Tan summarizes the latest debacle: “If you interfere with information in a financial center, it’s like cutting off oxygen.” 

    • Rickards: We Destroyed The World's Greatest Economy For No Reason
      Rickards: We Destroyed The World’s Greatest Economy For No Reason

      Tyler Durden

      Tue, 10/13/2020 – 19:40

      Authored by James Rickards via The Daily Reckoning,

      Everyone knew the second quarter of 2020 was going to be a disaster, and it was. The U.S. economy fell by 31.4% (annualized) in the second quarter.

      But, the expectation was that we’d have a V-shaped recovery with a sharp bounce-back in the third quarter, a reopening of closed businesses, rehiring of the unemployed and a rising stock market.

      But so far, the economy is not following the script laid out for it by the politicians and experts.

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      The stock market did rally, but that was mainly because the stock index components are heavily weighted to companies least affected by the pandemic including Amazon, Apple, Netflix, Alphabet (Google), Facebook and Microsoft.

      Of course, it didn’t hurt that the Federal Reserve printed $4 trillion of new money and backstopped money markets, corporate bonds, municipal bonds, foreign central banks and other facets of capital markets with direct purchases, guarantees or currency swaps.

      Even at that, stocks have been struggling since hitting new highs on September 2.

      And yes, there was growth in the third-quarter (the best estimate is that the economy will grow at about a 35% annualized rate, but we won’t have official figures until October 29).

      The 35% third-quarter recovery was to be expected as Americans got back to work after the lockdown. That 35% rate might sound like the third quarter will basically make up for the second quarter, but it won’t.

      Not as Good as It Sounds

      The 35% gain is applied to the lower level of output resulting from the 31.4% loss. If you take 100 as a starting place, reduce it by 31.4% you get to a new level of 68.6. If you increase that level by 35% you get back to 92.6.

      That still leaves you 7.4 percentage points in the hole, not counting the 5% drop in the first quarter. When you apply 7.4% to a $22 trillion economy, that means you still have $1.6 trillion of lost output on an annualized basis even after the 35% third-quarter recovery.

      The V-shaped recovery looks more like an “L” with flattish growth beyond the third-quarter. Things will not necessarily get much better from there, and progress is very much in doubt.

      The lockdown continues in many places. The virus has not gone away, and the caseload and fatalities continue to grow.

      A second wave of layoffs has now begun as companies that were able to hang on thanks to Payroll Protection Plan loans find that the money has run out, and their businesses are still closed.  They are now being forced to let go of workers who might have survived the first layoffs in March and April.

      So the letter to describe the recovery isn’t a “V” or even an “L” but possibly a “W,” with another recession right around the corner.

      Beyond the second wave of layoffs, there is a persistent problem of the long-term unemployed whose businesses are shut down or dead in the water with no prospect of any return of demand.

      This is a combination of factors the economy has not seen since the 1930s. It’s worse than a technical recession, it’s a depression, and its effects will be felt for years, or even decades, to come.

      When Will Output Return To 2019 Levels?

      The U.S. will not regain 2019 output levels until at least 2022, and growth going forward will be even worse than the weakest-ever growth of the 2009–2020 recovery.

      The post-2009 recovery produced only 2.2% growth. It was an L-shaped recovery. It was a real recovery, yet the output gap between the former trend and the new trend was never closed.

      The U.S. economy suffered over $4 trillion of lost wealth based on the difference between the former strong trend and the new weaker trend.

      That lost wealth was a serious problem for the U.S. before the New Great Depression. Now the prospect is for even lower growth than the weak post-2009 recovery.

      The U.S. economy would have to grow 10% a year in 2021 and 2022 to return to 2019 levels of output.

      First, is 10% growth even a reality? Past history says no.

      Since 1943, U.S. annual real growth in GDP has never exceeded 10%. In fact, post-1980 recoveries averaged 3.2% growth. And since 1984, growth has never exceeded 5%.

      So 10% is a very optimistic forecast to begin with. Here’s the problem:

      Using 100 as a yardstick for 2019 output and assuming unrealistic back-to-back years of 10% real growth in 2021 and 2022, one still does not get back to 2019 output levels.

      It would take the highest annual real growth in over 40 years, sustained for two consecutive years, to get close to 2019 output levels.

      It’s far more realistic to assume real growth will be less than 10% per year. That puts the economy well into 2023 before reaching output levels last achieved in 2019.

      Another “L”-shaped Recovery

      The new recovery, far from the 10% growth discussed in the example above, may only produce 1.8% growth, even worse than the 2.2% growth before the pandemic.

      It’s another L-shaped recovery, the second in a row. Now the bottom of the L is even closer to a flat line, and the output gap compared with the long-term trend is even greater.

      All of this economic devastation was not caused directly by the virus. It was caused by the policy response to the virus, specifically the extreme lockdowns ordered by many state governors.

      Was it all worth it?  The likely answer is “no.”

      90% of Lockdown Benefits at Only 10% of the Cost

      Many top scientists agree that lockdowns don’t work. The virus will spread with or without a lockdown. Some measures make sense such as washing hands, keeping social distance and wearing masks in crowded spaces.

      But there’s no evidence masks do any good at all when the wearer is alone, outdoors or at a reasonable distance from others.

      We could have followed these basic rules and gotten 90% of the benefit of a lockdown at only 10% of the cost.

      Those supporting lockdowns have ignored the costs of increased suicides, drug abuse, alcohol abuse, domestic violence and the depression and anxiety that result from lack of social interaction. There was never a good reason to close every bar, restaurant, salon, boutique and public space.

      “We Destroyed the World’s Greatest Economy for No Good Reason”

      Even the World Health Organization is coming out against lockdowns. Dr David Nabarro, the WHO’s special envoy on COVID-19, says:

      We really do appeal to all world leaders: stop using lockdown as your primary control method… We in the World Health Organization do not advocate lockdowns as the primary means of control of this virus. The only time we believe a lockdown is justified is to buy you time to reorganize, regroup, rebalance your resources, protect your health workers who are exhausted, but by and large, we’d rather not do it.

      We destroyed the world’s greatest economy for no good reason.

    • Trump Scores With Independents As Suburban Women Lean Left
      Trump Scores With Independents As Suburban Women Lean Left

      Tyler Durden

      Tue, 10/13/2020 – 19:20

      President Trump is closing the gap with former Joe Biden – scoring points with independent voters, while the former Vice President enjoys a healthy lead among suburban women, according to a recent poll by Zogby Analytics.

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      Overall, the poll has Trump leading Biden 46 to 43 in major battleground states – due in part to the fact that Zogby included third-party candidates Jo Jorgensen, Howie Hawkins and voters who are undecided.

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      The race is close and is a far better representation when you include third parties,” said Jonathan Zogby, adding “Zogby Analytics will always include third parties in our polls. It’s a shame when you have a respected, intelligent woman as a party nominee, and the mainstream media is pretending she doesn’t exist. Now who is sexist? Don’t give us that business that ‘voting for a third party is a vote for Trump or Biden!’ So if you don’t fall in line with the duopoly you don’t have a voice? That’s not what the founders’ of our republic and Constitution ever intended to happen. Everyone has a voice: Democrats, Republicans, Libertarians, and Greens”

      “The contest is also close in battleground states, with Trump narrowly winning against Biden 46% to 43%, while Jorgensen received 7% and Hawkins 1%,” said Zogby.

      The poll also revealed (via the Washington Examiner):

      Positives for Trump in the survey:

      • “The president is also coming back with independents,” though Biden still leads 39% to 34%.
      • Trump is winning voters aged 30-49, 51% to 38%, and Generation X, 50% to 42%.
      • 70% of swing voters who chose Barack Obama and then Trump in 2016 back the president.

      Positives for Biden:

      • Older voters choose him over Trump, 58%-38%.
      • He’s winning the suburbs, 47% to 39%.
      • Biden leads Trump among suburban women, 52% to 33%.

      Yet, while Zogby conducts what appears to be minimally biased polls which includes a more realistic playing field (as people will write in third-party candidates), Rabobank’s Michael Every points out (and we noted earlier), polls can be wrong. Especially when it is harder and harder to find people who have the time and energy to answer a survey, a process that naturally leans towards the wealthier and more politically active.

      As Pew research notes in a looong election note today, different polling agencies conduct their surveys quite differently; the barriers to entry in the field have disappeared; a poll may label itself “nationally representative,” but that’s not a guarantee that its methodology is solid; the real margin of error is often double that which is reported (and they are already quite large at +/- 3%); huge sample sizes sound impressive, but don’t mean much as this can mean cheap and problematic sampling; evidence suggests if the public hears a certain candidate is likely to win, they are less likely to vote; public estimates of policies are generally trustworthy, but estimates of who will win are less so; all good polling relies on statistical adjustment; not adjusting for education is a disqualifying shortfall (as we saw in 2016); more transparency on how a poll was taken is better; polling is not broken, despite 2016; the evidence for “shy” Trump voters is actually quite shy; yet a systematic miss in election polls is more likely than people think, especially on the electoral college outcome.

      Every notes that RealClearPolitics‘ polling aggregator fails to include Zogby and Democracy Institute in their polling average benchmark.

      * * *

      In short, trust polls at your own risk.

    • IMF Urges Governments To "Ensure Corporations Pay Fair Share Of Taxes"
      IMF Urges Governments To “Ensure Corporations Pay Fair Share Of Taxes”

      Tyler Durden

      Tue, 10/13/2020 – 19:00

      In its latest batch of projections about the global economy, the International Monetary Fund has again projected a “deep recession” in 2020, which would be one of the worst annual plunges since the Great Depression of the 1930s. 

      The report, released Tuesday, shows the agency expects global growth to plunge 4.4% this year, an upward revision of 0.8 percentage points compared with the June estimates in the World Economic Outlook report, said IMF chief economist Gita Gopinath. ​For 2021, the IMF sees world growth at 5.2%, down from June’s 5.4% projection.

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      h/t Bloomberg 

      “The upward revision in the IMF’s 2020 growth forecast reflects in particular better-than-projected second-quarter growth in the U.S. and the euro area, a stronger-than-anticipated return to growth in China and signs of a more rapid recovery in the third quarter,” said Bloomberg. ​

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      h/t Bloomberg 

      Ahead of today’s release, Bloomberg quoted Gopinath as saying: 

      “So we continue to project a deep recession in 2020 with global growth projected to be -4.4%. This is a small upgrade relative to our June numbers. We expect growth to rebound partially in 2021, coming back to 5.2 percent. However, with the exception of China, all advanced economies and emerging and developing economies, excluding China we are projecting output will remain below 2019 levels well into 2021. Therefore, we see that the recovery from this catastrophic collapse will likely be long and even highly uncertain,” she said. 

      In today’s report, Gopinath said that “the global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April… But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations.”

      She said the crisis is “far from over.” This year’s contraction will be the deepest since the Great Depression, with COVID-19 killing more than one million people and collapsing the global economy. 

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      As we’ve explained in recent weeks, severe wealth inequality imbalances are developing, as the poor are getting poorer, and the rich are getting richer – the imbalance is directly connected with how governments and central banks distribute monetary and or fiscal stimulus, with much of it flowing to mega-corporations. IMF estimates at least 90 million people worldwide are set to fall into “extreme poverty” this year. 

      Gopinath wrote in the report that economic recoveries “everywhere face difficult paths back to pre-pandemic activity levels.”   

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      The IMF said a speedy recovery in China had been a surprise, but warned the global rebound remains vulnerable to setbacks. It noted that “prospects have worsened significantly in some developing countries where infections are rising rapidly.” 

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      “Preventing further policy setbacks,” the IMF said, “will require that policy support is not prematurely withdrawn.” It warned that sovereign debt loads are set to rise sharply: 

      “The global easing of monetary policy, while essential for the recovery, should be complemented with measures to prevent build-up of financial risks over the medium term, and central bank independence should be safeguarded at all costs. Needed fiscal spending and the output collapse have driven global sovereign debt levels to a record 100 percent of global GDP,” the report said. 

      As analysts on Wall Street reasses whether a Biden victory and Democratic Senate sweep would truly be such a negative for the market, the IMF has highlighted the importance of keeping the money tap flowing – at least in the near term. 

      “While low interest rates alongside the projected rebound in growth in 2021 will stabilize debt levels in many countries, all will benefit from a medium-term fiscal framework to give confidence that debt remains sustainable. In the future, governments will likely need to raise the progressivity of their taxes while ensuring that corporations pay their fair share of taxes, alongside eliminating wasteful spending,” the report said.  

      That wording seems extremely similar to Democratic Party talking points…

    Digest powered by RSS Digest

    Today’s News 13th October 2020

    • The Illusion Of Safety: UK Commuter Trains Will Leave Windows Open In Winter To Fight COVID-19
      The Illusion Of Safety: UK Commuter Trains Will Leave Windows Open In Winter To Fight COVID-19

      Tyler Durden

      Tue, 10/13/2020 – 02:45

      As Boris Johnson forces hundreds of bars to close as COVID-19 cases come roaring back, with hot spots in northern England leading the charge, the Telegraph reports that commuter train operators are instituting questionable new safety measures like keeping all train windows open during the winter cold to try and ‘COVID-19 proof’ their trains and make commuters more comfortable with the safety risk.

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      The news comes despite new research confirming that the virus can survive for weeks on banknotes, and that lower temperatures enhance SARS-CoV-2’s chances of survival.

      The UK over the weekend finally topped 600,000 cases as a surge in new cases started to wane.

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      But as London’s commercial real estate values plummet, and downtown businesses that once catered mostly to commuters close permanently, one after the other, politicians are also under pressure to start pushing younger and healthier workers back into the office.

      The director of the UK’s rail safety regulator tried to reassure commuters that commuter trains are safe, and that “road is not the panacea that was originally, without justification, put out there.”

      Ali Chegini, a director at the Rail Safety and Standards Board, said: “Even though it’s cold, even though you have to wrap up and put woolly socks on, it’s better to keep windows open than to be exposed to the risk of infection.”

      He said four in every five trains had ventilation systems called HVAC, and that even if the windows do not open “moving air is better than not moving air in enclosed spaces.”

      Mr Chegini admitted that although the aim was not to “get everybody back on the train,” he said that: “If you need to be back at work and you’ve got a choice between road and rail, road is not the panacea that was originally, without justification, put out there.”

      UK government scientists have determined that COVID-19 spreads fastest at 4 degrees Celsius (39.2 Farenheit), and that has been their position since July.

      A senior member of the Scientific Advisory Group for Emergencies (Sage) said Covid-19 “likes” four degrees best – “it survives well at four degrees [celsius]”.

      Scientists are also understood to be increasingly confident that countries with temperate climates and with relatively severe flu seasons, such as Britain, will also be affected worse by Covid-19 in winter.

      The maximum capacity of trains has dropped by between 45 and 50 per cent, with social distancing rules driving a loss in ticket revenue estimated at £700m a month.

      The maximum capacity of trains has dropped by between 45% and 50% as social distancing rules propel a staggering loss in ticket revenue estimated at £700 million a month. Still, opening windows is a better strategy for cleansing trains of the virus than running air conditioning units that may or may not take in air from the outside.

      Earlier this year, experts told the Telegraph that air conditioning units that do not have a “dedicated source of outside air supply into a room… could be responsible for recirculating and spreading airborne viral particles into the path of socially distanced users.”

      Dr Shaun Fitzgerald, a fellow at the Royal Academy of Engineering, said that even when using air conditioning units opening a window would be the best way to mitigate risk of infection.

      Huw Merriman, chairman of the Commons transport select committee, said: “Hospitality and leisure businesses in cities are dying because we have not got commuters. Commuters are a hardy, stoic bunch, but we are also considerate. You only get confidence if you are realistic with the rule set and then people aren’t seen to breach anything.”

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

    • Turkey Notifies Russia: Armenia Must Withdraw From 'Occupied Azerbaijani Lands'
      Turkey Notifies Russia: Armenia Must Withdraw From ‘Occupied Azerbaijani Lands’

      Tyler Durden

      Tue, 10/13/2020 – 02:00

      Via AlMasdarNews.com,

      Ankara said that the Turkish Defense Minister, Hulusi Akar, stressed during a telephone conversation he had today with his Russian counterpart, Sergey Shoigu, “the necessity of Armenia’s withdrawal from the occupied Azerbaijani lands.”

      The Turkish Ministry of Defense stated, in a statement, that Akar called on Monday with Shoigu, and during the call, “views were exchanged on Armenia’s attacks on Azerbaijan.”

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      Illustrative file image of prior Armenian and Russian army units at a joint military exercise, via RFERL

      According to the statement, Akar stressed that Armenia, which he claimed “launched an attack on the civilian population and violated the ceasefire regime, must stop its attacks and withdraw from the occupied territories.”

      Akar pointed out that “Azerbaijan cannot wait another 30 years,” stressing Turkey’s support for Azerbaijan in its move to “regain control of its lands.”

      On September 27, armed clashes erupted on the line of contact between Azerbaijani and Armenian forces in the Karabakh region and adjacent areas, in the most dangerous escalation between the two parties in more than 20 years, amid mutual accusations of starting hostilities and bringing in foreign militants.

      Despite Russia and Armenia maintaining a formal mutual defense pact, analysts see little incentive for Russia to weigh too deeply into the long-running territorial dispute:

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      Turkey is considered a major ally of Azerbaijan, which is involved in the clashes against Armenian forces reportedly by transferring foreign mercenary (especially Syrian Islamists), but also allegedly through air support.

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      On October 10, Azerbaijan and Armenia reached an agreement at the level of foreign ministers by means of Russia to declare a ceasefire for humanitarian purposes, but later the two sides exchanged accusations of violating it.

    • The Plot Against America?
      The Plot Against America?

      Tyler Durden

      Tue, 10/13/2020 – 00:00

      Authored by Frank Furedi via The Gatestone Institute,

      From Europe, the culture war raging in the United States is disturbing. In the presidential election, it seems that radical anti-American forces are questioning the very foundation on which Western civilisation was built. 

      The New York Times seems too similar to the propaganda we were fed by the Hungarian Stalinist Pravda during the days of communist tyranny.

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      Contaminating the Past

      In the Western world, the past has become the target of an ideological crusade. Many of its historic monuments and symbols are being vandalised, defaced or destroyed altogether. In the United States, the national flag has been treated with derision and denounced by leading members of its cultural institutions as a symbol of racism, oppression and discrimination. Commentators have been regularly condemning their nation’s past and portraying it as a source of irredeemable shame.

      In recent times, hostility towards the very foundation on which different Western nations rest has acquired a systematic form. This trend is most strikingly articulated by The New York Times‘ 1619 Project — to devalue and criminalise the founding of the United States.

      Through distorting America’s history, this project claims that the year 1619, and not 1776, constitutes the origin of the United States. It was in 1619 that African slaves arrived in Jamestown, and this event has been rebranded as the origins of the US. Why? Because the 1619 Project insists that the US was founded for the purpose of entrenching slavery and that to this day, this nation is dominated by that legacy. According to this inaccurate version of the past, the American Revolution was not so much a war of independence but a selfish act of preserving exploitation and oppression. In this way, the contribution of the American Revolution to the development of the Western ideals of individual liberty and personal responsibility is erased from history. America’s Declaration of Independence and — especially for the time — its remarkably advanced liberal and democratic Constitution and Bill of Rights are implicitly renounced as slave-owners’ charters.

      Most significantly, the 1619 project is designed to contaminate the tradition and foundation that underpins the opportunity and mobility that have come to characterise the American way of life. This attempt to vandalise the tradition of a nation and its historic memory is far more toxic than toppling over a statue. Certainly, one of the main authors of the 1619 project, Nikole Hannah-Jones, is in no doubt that her objective was to plunder the past in order to undermine the moral authority of present. Recently she responded to critics who claim that she has distorted history by stating on Twitter:

      “I’ve always said that 1619 project is not history. It is a work of journalism that explicitly seeks to challenge the national narrative and therefore national memory. The project has always been as much about the present as it is about the past.”

      Hannah-Jones’s explicit conflation of the present and the past should not be seen as an innocent disregard of fundamental temporal boundaries but as a project devoted to contaminating the past in order de-legitimate the institutions of the US in the present.

      A script for the vandalisation of history

      The way in which the authors of the 1619 Project attempt to seize control of the national narrative is by providing a simplistic, inaccurate but highly evocative script for members of the public. It is a script that many protestors, rioters and looters in the United States have effortlessly internalised. Hannah-Jones has little inhibition about promoting a script that regards not only the Founders of the US but members of the white race with contempt. As she noted in a 1995 letter to a newspaper, “the white race is the biggest murderer, rapist, pillager, and thief of the modern world”. Her reference is not simply to the white people that settled America in the 17th and 18th centuries. She added:

      “Even today, the descendants of these savage [white] people pump drugs and guns into the Black community, pack Black people into the squalor of segregated urban ghettos, and continue to be bloodsuckers in our community.”

      In a different world, the denunciation of an entire race would be interpreted as not a million miles from racist prejudice. We live in a world, however, where scripts like the one promoted by the 1619 Project are strongly supported by many of the cultural and educational institutions of society. It is after all The New York Times — once the paper of record in the US — that promoted and endorsed Hannah-Jones’ narrative of hate towards the nation’s past. And to demonstrate that Hannah-Jones enjoyed the moral support of the commentariat, she was awarded the prestigious Pulitzer Prize. Hollywood celebrities rushed in to demonstrate their support for the 1619 Project. Predictably, Oprah Winfrey and the global content platform, Lionsgate, teamed up with Hannah-Jones to bring her work to an even wider audience through multiple platforms.

      The embrace of the 1619 Project by celebrities, online influencers and leaders of America’s cultural industry highlights one of the most important development that encourages the cancelling of American culture. The most significant feature of the war against the past is the complicity of cultural institutions and their leaders in the project of estranging society from its traditions and history.

      It is not merely universities that promote a vision of the nation’s past as one that people should view with shame. The claim that contemporary cultural institutions bear the burden of guilt for the crimes committed by their ancestors also seems to have been widely internalised by the cultural elites. According to their playbook, America’s history is a story of unremitting violence and greed. There are no “good old days” that can serve as a focus for redemption and nostalgia. Instead of nostalgia, the current regime promoting a vision of the past as “the bad old days” incites guilt, shame and self-loathing. This corrosive orientation towards one’s history invites the performance of apology. The ritualization of remorse towards the events of the past is one of the important accomplishments of this movement.

      It seems that this election is not just about which candidate gets elected — it is ultimately about America’s commitment to empirical facts, its extraordinary Constitution and its determination to maintain its leadership role in the world by refusing to allow cheating and corruption, in either its elections or its governmental institutions. One can only hope that the ideals of the Founding Founders will prevail.

    • Trump Seeking Last Minute Pre-Election Nuke Deal With Putin
      Trump Seeking Last Minute Pre-Election Nuke Deal With Putin

      Tyler Durden

      Mon, 10/12/2020 – 23:40

      The clock is winding down on the last major arms control agreement between Moscow and Washington, after prior late Cold War era treaties like the INF and Open Skies faltered – or rather the US abruptly withdrew from them with Trump complaining he wants “a better deal”. If an extension agreement is not reached on the New Strategic Arms Reduction Treaty (New START) during ongoing talks, the latest of which were hosted in Vienna and Helsinki within past weeks, it will expire in February of next year, or merely in less than four months

      Russia’s unwavering position has been to push for an unconditional five-year extension of the treaty, while Washington said it will only consider a short-term extension if a new agreement that brings all nuclear warheads including those possessed by China into the framework. The Kremlin has called the US plan “absolutely unrealistic,” bringing talks to an impasse. 

      But now it looks like President Trump wants to rapidly push out a deal ambitiously ahead of the November 3 election, as Axios reports, “President Trump is looking to Vladimir Putin to close the deal on a pre-election nuclear agreement, a timetable that’s an October surprise even for senior Republicans and some in the White House.”

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      Prior meeting at G20 summit in Osaka, Japan in 2019, via EPA-EFE

      Trump and Putin over the past half-year have engaged in a series of phone calls that have reportedly focused on New START. Axios notes further that it’s being handled at the highest national security levels of the administration, though there are mixed signals of just how it’s actually going.

      Axios writes, “On Friday, a source familiar with the discussions said the Trump administration believed it now had an agreement in principle, blessed by Putin and Patrushev, that could be finalized within a week once negotiations resume in earnest.”

      However, other signals especially out of Kremlin official statements suggest this is an over optimistic reading of where things actually stand. There’s also the fact that Joe Biden has clearly indicated he’s ready to agree to the unconditional 5-year extension of the nuclear arms reduction treaty.

      All of this would make wrapping up the deal in a mere week a huge difficulty. It’s likely the Russians will want to wait and see what the outcome of November is before entering into significant compromises. 

      Indeed Deputy Foreign Minister Sergei Ryabkov said on Saturday that “there are still huge differences in approaches, including to the central elements of such an agreement.” He also called a one week timetable “unrealistic”.

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      Complicating matters is the reality that (contrary to years of ‘Russiagate’ and “collusion” narrative claims) the Trump presidency has sunk US-Russian relations to new lows.

      Putin underscored this in an interview with a Russian TV broadcaster last week when he said: “the greatest number of various kinds of restrictions and sanctions were introduced [against Russia] during the Trump presidency.”

      “Decisions on imposing new sanctions or expanding previous ones were made 46 times. The incumbent’s administration withdrew from the INF treaty. That was a very drastic step. After 2002, when the Bush administration withdrew from the ABM treaty, that was the second major step. And I believe it is a big danger to international stability and security,” Putin explained.

      So again, the Russians are more likely to wait things out a mere few weeks to see if Biden comes out on top, then all of this becomes moot.

    • Australian Media Finally Calls Out Davos "Great Reset" Agenda
      Australian Media Finally Calls Out Davos “Great Reset” Agenda

      Tyler Durden

      Mon, 10/12/2020 – 23:20

      Via 21stCenturyWire.com,

      This week, Sky News Australia contributor and former Australian Senator Cory Bernardi, tore open the debate on COVID after calling out a globalist agenda which few in mainstream media have dared to mention so far.

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      Since lockdowns began in March of 2020, few have challenged the government rationale for voluntarily imploding their economies and destroying communities and societies – based on a guess that coronavirus might kill tens of millions of citizens.

      However, Bernardi believes that the COVID-19 pandemic hysteria is being used as the Trojan horse for a globalist agenda hatched out of the World Economic Forum in Davos. It’s called The Great Reset, and its designed by elite billionaires supposedly to bring about ‘social and economic change.’

      “There is something unusual about the continuing pandemic panic,” said Bernardi.

      “Medical experts now acknowledge that lockdowns don’t work…

      Now none of that makes any sense until you open your mind to consider if there is another agenda at work.

      According to technocrat, Klaus Schwab, founder and Chairman of the World Economic Forum, “COVID 19 cases have shown us that our old systems are not fit anymore for the 21st century, it has laid bare a fundamental lack of social cohesion, fairness, inclusion and equality.”

      “Now is the historical moment of time not only to fight the… virus but to shape the system… for the post-corona era,” claims Schwab.

      “(Mr Schwab) admits that COVID is the new excuse to usher in the Green New Deal that climate alarmists, profiteers and big government have been pushing for years,” said Bernardi.

      “Think about it, the global response to COVID has been a green socialist’s dream.”

      Bernardi cites the fact that coordinated government shutdown policies (not COVID) have brought down fuel consumption and canceled international travel and bankrupted scores of airlines and travel firms already.

      In addition, governments are using the ‘pandemic’ to permanently curtail civil liberties and freedom of movement and assembly.

      “Why do you think the Australian Greens have been so quiet these past months … it’s because their policy agenda is coming to life?” he asked.

      “After decades of peddling climate change lies and propaganda to force government by the elites, the socialists have used a media induced hysteria over public health as their latest weapon of economic destruction.”

      The end game of creating to illusion of a global pandemic emergency is to rapidly usher-in the introduction of a ‘Green New Deal‘ policy – where billionaires seek to restructure our capitalist system into a new ‘green economy’ – promising equality and “climate justice” along the way.

      He also highlights the fact that many of the same scientists and institutions involved in the fraudulent over-the-top modelling of COVID deaths – are also involved in IPCC computer modeled projections of supposed future climate change.

      In this segment, Mr. Bernardi explains what’s actually behind the mass-panic being fomented by certain governments and mainstream media, hyping the idea that the world is in the midst of a “deadly plague” and public health crisis. 

      Watch:

    • Watch: Kim Jong Un Wipes Away Tears During Rare 'Apology' For Litany Of North's Hardships
      Watch: Kim Jong Un Wipes Away Tears During Rare ‘Apology’ For Litany Of North’s Hardships

      Tyler Durden

      Mon, 10/12/2020 – 23:00

      The big news out of North Korea this past weekend was Saturday’s military parade marking the 75th anniversary of the country’s ruling party wherein Pyongyang showcased a previously unseen new intercontinental ballistic missile (ICBM), as well as what appeared to be domestic-built anti-air defense systems akin to Russian S-400s.

      But now with more footage and official translations hitting international press on Monday, a rare and somewhat bizarre clip of the moment Kim Jong Un shed tears in an emotional speech which included an apology to North Korean citizens is going viral.

      Notably he underscored multiple times the official claim of “zero” coronavirus cases in his country while taking a moment to sincerely wish a rapid recovery for those suffering from the virus in South Korea. 

      He also expressed a desire for the people of the North and South “to hold hands sometime in the near future.”

      But it is when he went through a litany of the north’s own suffering and hardships that he began to visibly get choked up. The dictator fought back more tears as he said:

      “Our people have placed trust, as high as the sky and as deep as the sea, in me, but I have failed to always live up to it satisfactorily. I am really sorry for that,” the 36-year-old leader declared, according to a translation published by The Korea Times. “Although I am entrusted with the important responsibility to lead this country upholding the cause of the great Comrades Kim Il-sung and Kim Jong-il thanks to the trust of all the people, my efforts and sincerity have not been sufficient enough to rid our people of the difficulties in their lives.

      “I am ashamed that I have never been able to repay you properly for your enormous trust,” Kim continued in the ultra-rare moment of emotional vulnerability.

      “My efforts and devotion were not sufficient to bring our people out of difficult livelihoods.”

      Amid the emotion he emphasized that among huge challenges facing the nation remain that “everything is in short supply” due to the “harsh and prolonged sanctions”.

      The display of emotion appeared to deeply touch the massive primarily military crowd, as some military officers in uniform were seen teary-eyed. 

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      But he quickly pivoted to saying “We clarify that our war deterrent is being developed not for aiming at others” but “in order to defend ourselves”.

      According to speculation in Fox News, “Analysts have since pointed to the emotional outpouring as evidence of mounting pressure on the regime, which not only includes the pandemic but natural disasters and international sanctions.”

    • Coup Who?
      Coup Who?

      Tyler Durden

      Mon, 10/12/2020 – 22:40

      Authored by Mark Hemingway via AmericanMind.org,

      Scaremongering Democrats protest too much.

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      In August, two retired military officers published a piece in Defense One which literally encouraged America’s top military leadership to have the 82nd airborne to descend on Washington in the event of a disputed election and escort President Trump out of office.

      “In the Constitutional crisis described above, your duty is to give unambiguous orders directing U.S. military forces to support the Constitutional transfer of power,” they write.

      “Should you remain silent, you will be complicit in a coup d’état.”

      In other words, the military must prevent a coup by staging one of their own. Thankfully, the Pentagon publicly condemned John Nagl’s and Paul Yingling’s musings.

      In some regards it is unremarkable in a nation with millions of military veterans that two of them would have some kind of Clockwork Orange-style MSNBC viewing party and put crayon to paper long enough to come up with this violent fantasia. However, the problem isn’t so much that Nagl and Yingling gamed out this scenario – every election that I can remember for the last 30 years has featured fringe voices expressing concern that the current occupant will refuse to leave.

      The real problem is that, for once, a respectable media outlet went ahead and published it. If anything, the Defense One op-ed was just the most explicit example of the anti-Trump coup pornography that’s become a staple of mainstream media. And when the media is not baselessly fretting Trump will refuse to leave office, they’re outrageously and falsely characterizing Trump and his administration in ways that justify his violent removal.

      The Washington Post recently ran an “analysis” in the business section, quoting a bunch of academics warning that Trump was leading America into autocracy. The article ended with this kicker quote from a Swedish political scientist, Staffan I. Lindberg at Sweden’s University of Gothenburg:

      “‘if Trump wins this election in November, democracy is gone’ in the United States, [Lindberg] says. He gives it about two years. ‘It’s really time to wake up before it’s too late.’”

      Does the Post ask Lindberg for anything not wholly impressionistic to justify his dire and specific prediction? Aside from offensive tweets and ego-driven rhetoric, has Trump done something really autocratic, like, kill American citizens without a trial? Maybe he led a charge to effectively nationalize one-seventh of the economy?

      No. But such pronouncements sound awfully ominous to credulous readers. And the Post piece was comparatively restrained: the same day, Vanity Fair had historian Peter Fritzsche on its podcast to explain that the Trump campaign cares more about race than Hitler. If Trump will end American democracy in two years and is more race-obsessed than the architect of the holocaust, why wouldn’t we call out the 82nd Airborne to perp walk him down Pennsylvania Avenue?

      “Stop Deposing Yourself!”

      There are, of course, problems with this plan. Earlier this month, Georgetown law professor Rosa Brooks wrote about her role in a Democratic party confab where various left-leaning leaders produced a report called the the “Transition Integrity Project” that gamed out responses to various disputed election scenarios.

      “A landslide for Joe Biden resulted in a relatively orderly transfer of power,” observed Brooks.

      “Every other scenario we looked at involved street-level violence and political crisis.”

      If Trump wins in a definitive landslide there’s still violence and a political crisis? After years of dishonest accusations about Russia collusion and other nonsense, should we bother to ask what responsibility Democratic party leaders and the media have to prevent violence if Trump wins in November? Or should we just accept this report’s conclusion as a way of blackmailing voters into making sure Biden wins handily?

      In this context, however, Blackmail is a fairly inconsequential crime. After former Trump administration national security official Michael Anton wrote a piece in this very publication criticizing the report, Nils Gilman, a former Pentagon official and co-creator of the Transition Integrity Project suggested Anton be killed by firing squad.

      Gilman is previously on record saying that after the Trump administration, America should explore the possibility of “a Truth and Reconciliation Commission, something South Africa used to confront the legacy of Apartheid in a way that enabled restorative justice.”

      It might be easier on everyone if Gilman merely explored the possibility of having his head examined.

      Given the IMAX-level projection involved in the Transition Integrity Project, it’s unsurprising to learn their full report is obsessed with exploring coup-like scenarios.

      “Of particular concern is how the military would respond in the context of uncertain election results,” notes the report.

      But the military response is not as uncertain as people too blinkered to separate the fate of America from that of the immediate success of the Democratic party think it is.

      Decades of cultural and economic stratification, not to mention a soupçon or ten of naked anti-American contempt on the Left, means that military service has become a right-leaning and regionally Southern affectation. We can say with a high degree of confidence that a majority of the active duty military voted for Trump, so it seems unlikely the 82nd Airborne is going to follow orders to remove Trump while votes are still being counted.

      At the same time, it’s frankly insulting to think Republican voters in the military would blindly follow orders from Trump in the event he attempts a Fujimori-type autogolpe after an election loss, which again, there’s no evidence he’s even remotely contemplating.

      The Real Conspiracy

      So why keep asking the question about what the military would do? Running on a parallel track to all these stories about the need for a military coup against Trump has been an emerging narrative that Trump secretly hates the military and doesn’t care if they die. Stirring up antipathy among troops could simply be a straightforward, if dishonest, electoral strategy to peel away votes from a stolid Trump constituency, but as long as we’re handing out free passes to indulge paranoia, forgive me for thinking the relevant term of art here is “battlespace prep.” It might be helpful to drive a wedge between Trump and the military if you had, uh, “plans” for after the election.

      Earlier this month, Atlantic editor Jeffrey Goldberg got wall-to-wall media coverage for a week after his anonymously sourced story claiming Trump called dead soldiers “suckers” and “losers.” This is in spite of the fact there are now more than 20 on-the-record sources with knowledge of the events surrounding Trump’s alleged comments throwing cold water on Goldberg’s account.

      And since the New York Times credulously regurgitated more anonymous intel leaks in June, we’ve been hearing about how Trump ignored reports that Russians were paying the Taliban “bounties” to kill American soldiers. Last month, an NBC news report finally gave up the ghost: “U.S. commander: Intel still hasn’t established Russia paid Taliban ‘bounties’ to kill U.S. troops.” After three months of breathless reporting, it seems there’s “a consensus view among military leaders [that] underscores the lack of certainty around a narrative that has been accepted as fact by Democrats and other Trump critics.”

      Hours after NBC News’ report, Biden’s campaign was still savaging Trump for “giving Russia a pass for putting bounties on the heads of American service members” and the next day Biden held a “Veterans Roundtable” campaign event where he tried to make an issue of the Russian bounties.

      To my knowledge, not a single reporter has asked Biden about reports Russians were paying bounties to the Taliban in 2010 when he was vice president, and, if those reports were accurate, why Biden mocked Mitt Romney as “one of a small group of Cold War holdovers” for saying Russia was a threat in 2012. But don’t worry, the Joe Biden of 2020 is so chastened by his previous lack of concern for the troops that, the week after his “veterans roundtable,” he’s scheduled a campaign event with Hanoi Jane Fonda, a favorite celebrity of vets everywhere.

      The Opposite of Fascism

      Speaking of Afghanistan, it’s also worth remembering that we’re still at war—and we have been for 19 years. When regimes enter states of permanent war, the lines between enemies foreign and domestic begin to blur. Aside from the electoral backdrop, reports of Russian bounties this summer emerged just as Trump was engaged in his latest of a number of unsuccessful efforts to withdraw American troops in Afghanistan. Coincidence?

      Trump got elected explicitly promising to reduce America’s global military presence, and while you might question his efficacy, there’s no denying he’s faced powerful resistance from a military-intel-media-industrial complex that has spent the last couple of decades turning foreign entanglements into an ouroboros tied up in a Gordian knot. Perhaps there’s a right way and a wrong way to draw down in Afghanistan, but Trump’s pronounced aversion to permanent war is certainly atypical of fascist autocrats.

      The truth is that Trump isn’t fascist any more than the contemporary American Left is Communist, though that’s a more damning and instructive comparison than many realize.

      “To speak of [fascism] as the true political opposite of communism is to betray the most superficial understanding of modern history. In truth there is an opposite of all the ‘isms’, and that is negotiated politics, without an ‘ism’ and without a goal other than the peaceful coexistence of rivals,” wrote Roger Scruton in his indispensable guide to the ideology of the Left.

      If America’s Democrats, who in the last two elections have come perilously close to nominating a man who honeymooned in the Soviet Union, haven’t embraced full Communism, well, then there’s a good case they’re at least guilty of fascism’s shared sin of abandoning negotiated politics.

      When peaceful coexistence is increasingly off the table, it’s worth asking where that leads us. Four years of elaborate Trump conspiracy theories – most of them involving Russia because irony is dead, dead, dead, and all of them premised on refusing to accept the results of the 2016 election – have finally made clear that there’s one key distinction between the excesses of the Right and Left worth fretting about in 2020.

      “Of course there are differences,” adds Scruton.

      “Fascist governments have sometimes come to power by democratic election, whereas communist governments have always relied on a coup d’état.

    • China Says It Foiled Major Taiwan Spy Network As Taipei Denounces "Malicious Political Stunt"
      China Says It Foiled Major Taiwan Spy Network As Taipei Denounces “Malicious Political Stunt”

      Tyler Durden

      Mon, 10/12/2020 – 22:20

      In what could be used as a possible pretext for war or at least as huge leverage amid increased threats, state broadcaster China Central Television (CCT) claimed in Sunday reporting that Beijing national security authorities have recently exposed and rounded up hundreds of “espionage cases” in a special operation targeting “infiltration and sabotage” of the mainland by Taiwan’s intelligence agencies

      The mass dragnet operation led to the detention of Taiwanese spies and assets, and uncovering of sophisticated networks in what CCTV has dubbed the “Thunder 2020” operation, the report claimed, which set off a firestorm in Taipei. Taiwan has since angrily denounced the claims as nothing but a “malicious political stunt”.

      This included CCTV’s main current affairs show airing bizarre footage of a Taiwanese businessman “confessing” that he spied on People’s Liberation Army exercises at a stadium last year in Shenzhen, making multiple videos of the make-shift staging ground at the sensitive moment of the Hong Kong crisis, as also reported in Bloomberg. Specifically it appears a group which could be in the “hundreds” are charged with gaining Chinese military intelligence related to the Hong Kong crackdown.

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      CCTV photo of spy suspect Lee Meng-Chu, who was detained in Shenzhen last year.

      Identified as Lee Meng-chu, he was accused of “spying into state secrets for an overseas organization and endangering national security,” according to the state TV program. Part of the alleged ‘evidence’ is that he shared his spy photos with Taiwan connected chat groups. He was also alleged to have communicated Chinese state secrets, but again it appears to involve taking photos at a stadium which happened to also have warnings posted saying “no photographs”.

      At a moment the Hong Kong protests raged, resulting in a mainland crackdown crisis for which Chinese national troops were mustered in case they were needed, the Financial Times apparently reported the movement of PLA troops based on the alleged Taiwan spy network. However, this also appears a mere case of citizen-journalism driven by clear public interest, which Beijing is labeling ‘espionage’

      Addressing the public confession on state TV, officials of Taiwan’s government condemned the whole spectacle, saying, “The CCP must stop putting words in others’ mouths and framing a case against Taiwanese,” according to Bloomberg.

      Broadly, it appears those among the accused acting as ‘spies’ were part of Taiwanese activism showing solidarity with the plight of the Hong Kong pro-independence movement last year, prior to the movement’s squelching by the controversial China-backed national security law which went into effect over the summer. 

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      Interestingly, or perhaps quite intentionally, the bombshell accusations by the mainland came just a day after  Taiwan’s President Tsai Ing-wen extended a rare olive branch at a moment of military tensions, calling for “meaningful dialogue” with China.

      The other big, persistent charge is that of “collusion” between Taiwan and Washington, based especially on weapons sales and fears that formal diplomatic relations could be restored in the near future. 

    • Azerbaijani Military Destroys Armenian S-300s As Humanitarian Ceasefire Nears Collapse
      Azerbaijani Military Destroys Armenian S-300s As Humanitarian Ceasefire Nears Collapse

      Tyler Durden

      Mon, 10/12/2020 – 22:00

      Submitted by SouthFront,

      The Armenian-Azerbaijani war in the Nagorno-Karabakh region does not show signs of nearing its end despite the humanitarian ceasefire launched in the region. The ceasefire started in the Nagorno-Karabakh region at 12:00 local time on October 10. The ceasefire deal was reached by the Azerbaijani and Armenian sides following long talks in Moscow a day ago. Russia played a key role in forcing the sides to make steps towards the de-escalation.

      Azerbaijan and Armenia also formally agreed to begin substantive negotiations of a peaceful settlement of a military conflict over the disputed region of Nagorno-Karabakh that erupted on September 27. These talks will be mediated by the Organization for Security and co-operation in Europe’s Minsk Group of international negotiators. Following the ceasefire agreement, Azerbaijani President Ilham Aliyev said that the first phase of the military operation in the Nagorno-Karabakh region is completed. The Russian diplomatic intervention allowed to put an end to the hottest phase of the military confrontation and force the sides to halt active offensive operations on the ground.

      Despite this, the situation on the ground remained very tense. Almost immediately after the start of the ceasefire regime, the sides simultaneously accused each other of violating the ceasefire and of shelling civilian and military targets, and repeated these claims on October 11 and October 12.

      Meanwhile, Armenia and Azerbaijan released a new batch of fresh and few days old footage showcasing casualties of each other and making loud statements. In particular, pro-Azerbaijani sources claimed that at least two more S-300 systems of Armenia were destroyed in Karabakh. The released videos accompanying these claims include the moments of the alleged destruction of 35D6 (ST-68U) radars and a S-300 missile launcher of the Armenian military with Israeli IAI Harop loitering munitions near the village of Khojaly in the Khojaly District and the village of Qubadlı in the Kashatagh District.

      The 35D6 is a vehicle-carried three-dimensional air surveillance radar system. The range of the radar’s primary functions includes the detection of low-flying targets protected with active and or passive jamming screens, and also the performance of air traffic control. It can be operated as a separate installation as well as a part of the S-300 air-defense system. Nonetheless, if it was the S-300 batteries, as Azerbaijani sources insist, it still remains unclear what these long-range air defense systems were doing so close to the frontline.

      Meanwhile, the Armenian military reported that its forces repelled large Azerbaijani attacks in the northeastern and southern parts of the region. The hottest area of the frontline is the town of Hardut. Azerbaijani President Aliyev officially announced that his forces captured it a few days ago. Nonetheless, videos from the ground show that in fact most of the town remained in the hands of the Armenians. Another part of it is now a gray zone, which is not controlled by any side. According to Armenian sources, Azerbaijani troops, supported by Turkish special forces and Syrian militants, tried to capture the town just a few hours before the start of the ceasefire. After this failed attack, Azerbaijani combat drones and artillery units delivered powerful strikes on Hardut and nearby villages, but were not able to force Armenian troops to retreat.

      The Armenian Defense Ministry insists that the Turkish Air Force is leading the aerial operations of Azerbaijan. “Turkish aerial command centers, flying within the Turkish airspace, are commanding the Turkish UAV’s operating in the Azerbaijani air force. UAVs, accompanied by six F-16 units, are directly attacking the peaceful population and civilian infrastructure of Artsakh,” the defense ministry spokesman said.

      In its own turn, the Azerbaijani side says that it’s just taking the necessary steps to respond to Armenian violations of the ceasefire and strikes on Azerbaijani settlements. The most widely covered incident of this kind took place on October 11, when an alleged Armenian ballistic missile hit Ganja city.

      The active offensive phase of the Armenian-Azerbaijani war was put on pause, but the conflict itself does not seem to be nearing its end. Without the real political will of the Azerbaijani and Armenian leadership to reach a ceasefire, the de-escalation of the conflict, without direct intervention of some third party, remains unlikely. Instead, the war has chances to resume with new power in the coming days.

    • No Stimulus, No Problem: One Bank Sees "No Armageddon" Without A New Stimulus Deal
      No Stimulus, No Problem: One Bank Sees “No Armageddon” Without A New Stimulus Deal

      Tyler Durden

      Mon, 10/12/2020 – 21:40

      In recent weeks, many have opined – this website included  – that with the US economy careening into a double dip recession (or perhaps depression), it is imperative that Congress and the White House cast aside their differences and pass a substantial, $1.5-$2 trillion stimulus bill or else the US middle class will be hammered as the spending and consumption tailwind from the previous covid rescue bills fades away.

      Furthermore as reported previously, there already has been a sharp slowdown in spending among groups who were recipients of expanded Unemployment Insurance benefits – which faded away on July 31 – as the chart from Bank of America shows:

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      And while there are various other nuances, we concluded several weeks ago that absent a  new stimulus, not only will the delayed aftereffects of the existing stimulus come back to haunt the economy…

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      … but the lack of new spending will result in a massive double whammy crashing the economy in 2021, which averted a full blown meltdown in Q2, but will find itself scrambling in the coming quarters as the mother of all double dips emerges, and which incidentally is also why the market has been sliding for the past two weeks as the reality of an indefinite stimulus-free future looms all too real.

      The question, of course, is when will the trapdoor below the US economy open up, resulting in another collapse in output?

      In a subsequent post following the latest personal income and spending data, we noted that in August – the month when the fiscal cliff hit – US consumer spending actually rose even as personal income contracted largely due to the end of the $600/week supplemental unemployment insurance benefits. As a result of this pick-up in spending coupled with shrinking incomes, US personal savings tumbled by an annualized $723 billion to $2.435 trillion, the lowest since March and far below the $6.4 trillion peak in annualized personal savings hit in April.

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      And while this meant that the personal savings rate declined sharply once again to 14.1% from a high of record 33% in the immediate aftermath of the covid crash, meaning that a whopping 60% of the personal savings built up in the aftermath of the covid fiscal stimulus tide have now been used up, it meant that Americans still have several months of accumulated savings to last them for the next several months.

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      We then said that as Congress continues to debate and pretend that a new fiscal stimulus bill is just over the corner, the massive savings buffer that was built up in the aftermath of the covid crisis, and which funded much of personal consumer spending in the past two months is now shrinking fast and at this rate personal savings will be back to pre-covid levels in 2-3 month. At that point we concluded that “it is safe to say that unless a new fiscal deal is in place, US consumption will crater unless somehow the millions of unemployed workers who still desperately rely on government stimulus find a job.”

      And yet, not everyone agrees that lack of a stimulus would be dire (at least in the immediate term).

      While conceding that last week’s developments effectively answered “no” to the question whether a new fiscal stimulus would emerge in the short term, Morgan Stanley wrote on Sunday that “it’s possible that a stimulus delay wouldn’t fully develop into the economic challenge it has the potential to be” and adds that the bank’s economists “now see evidence that US consumption can carry on for longer without fiscal support, given built-up excess household savings.”

      Maybe… maybe not. After all, this was precisely the issue we discussed two weeks ago when we concluded that the rate at which savings are being burned is too high and may not last more than 2-3 months, before US consumers face anew crisis.

      However, for Morgan Stanley that may be sufficient, and as the bank’s chief US policy strategist Michael Zezas wrote, “this is good news as there are many viable political paths towards stimulus over the next three months. We see three out of the four most likely post-election party configurations delivering stimulus by early 2021.”

      Picking up on this, MS’ chief economist Ellen Zentner wrote last week that “progress in the Congress on stimulus negotiations has stalled, and to borrow the words of our policy strategists: inaction speaks louder than words – our strategists no longer see a proactive stimulus in 2020 in the base case.”

      Yet  in the face of fading fiscal support, “the savings cushion built up from April-July should help smooth consumption, putting real PCE on track to reach pre-Covid levels in 2Q21. We estimate from April through July the US consumer built up a cumulative $12.5tr (annualized) in excess savings (savings above the monthly pre-Covid average).” That said, “the willingness of consumers to draw upon these savings in the coming months is yet to be known, but we believe it will provide an important stop-gap to the loss of government transfers.

      Zentner underscored this point in a Bloomberg interview in which she said that the US economy would certainly “take a hit” without further federal stimulus, but will not head into an “economic armageddon” because while fiscal benefits expired in July spending increased in August and September, thanks to the long tail of the stimulus.

      Why is all of this relevant? Because now the biggest question of all is how long can US consumers survive (in some cases literally) without more stimulus, a question whose answer may determine the next president. And while excess savings may allow US households to continue recent spending levels into November and December, it is only a matter of time before these tumble and Congress is forced to pass another stimulus, regardless of their animosity toward Trump and Republicans, even in a contested election context, even if there is no Blue Sweep.

      Perhaps the biggest take home here is that Trump, who judging by his latest tweets is suddenly desperate to pass a stimulus deal even if it means meeting the Democrats’ ask of $2.2 trillion, may want to slow down. After all, bailing out insolvent pensions in blue states may generate far more resentment and have much more dire consequences for Trump’s re-election chances than asking Americans to wait an extra month or two before the next inevitable stimulus round is agreed upon by Congress and the next president, whoever he may be (or she, in the case of Kamala Harris). Ironically, the odds of Trump being that president may rise if he refuses to concede to Democrat demands for a giga stimulus, and merely holds firm until after the election.

    • SoftBank's Vision Fund Plans SPAC, Vows It Is Not Behind Nasdaq Melt-up
      SoftBank’s Vision Fund Plans SPAC, Vows It Is Not Behind Nasdaq Melt-up

      Tyler Durden

      Mon, 10/12/2020 – 21:20

      SPACs (it stands for Special Purpose Acquisition Vehicle) raised a ton of money over the summer as the craze that seemingly started with Bill Ackman and Chamath Palihapitiya (already on his third SPAC). It’s already drawing in big-name celebrity investors (Shaq is in the process of launching one), which might evoke unflattering parallels to the ICO bubble of 2018.

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      On Monday, Rajeev Misra, the head of SoftBank’s ill-fated Vision Fund and Vision Fund 2 (which almost entirely comprises money from SoftBank’s balance sheet) told a Bloomberg reporter during an interview at the Milken Institute’s virtual conference that the Japanese telecoms giant with a VC arm attached is planning to announce its own SPAC within the next 2 weeks.

      Twitter users responded to the news with humor, much of it directed at the retail investors who will seemingly inevitably be left holding the bag.

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      SoftBank was a progenitor of the Silicon Valley valuation mania that peaked with the IPO flops of Uber and Lyft. But it’s perhaps best known for the disaster that was the aborted WeWork IPO. SoftBank backed to a valuation of nearly $50 billion, only to see that number dwindle to less than $10 billion (according to leaked reports) as institutional investors refused to pay anything near that valuation.

      With SoftBank hopping on every other investment bankwagon, why not this, too?

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      SB could even cite the SPAC success of one of its portfolio companies, Opendoor (which was taken public via one of Palihapitiya’s SPACs) as inspiration.

      The amount of money SoftBank expects to dedicate to the SPAC wasn’t revealed, but Misra said the company would try to recruit some outside investors to back the deal.

      SPACs have been around for decades, but many are just becoming familiar with the idea. Basically, a sponsor, typically an investor with expertise in a given industry (tech, for example) raises money from institutional backers then enlists underwriters to sell shares of a “blank check” company to the public.

      The buyers of these shares aren’t aware of the target when they buy; they’re essentially betting on the sponsor’s reputation. Money raised in the IPO goes into an interest-bearing trust account, and can only be used to hand money back to investors, or complete an acquisition.

      Typically, SPAC sponsors have a target in mind before they list. But the beauty of SPACs is they allow investors to quickly raise massive amounts of cash and complete a deal without all of the messy oversight and red tape that typically accompanies an IPO.

      Money for the SPAC would be taken from SoftBank’s Vision Fund 2. Previously, SB’s VF1 backed some 80 companies, including WeWork, Uber, Wag and the Pizza robot (formally known as Zume).

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      But its disastrous losses last year prompted most of its backers to cut ties with SoftBank, which is probably why Misra now sees a SPAC as a suitable option for the fund.

      Moving on: Back in September, we identified SoftBank as the rumored “Nasdaq Whale”, the mammoth trader sinking billions of dollars into Nasdaq 100 call options to force dealer buying of the underlying and drive the Nasdaq on a torrid, but entirely manipulated, summer rally that drove the tech heavy index to fresh all time highs.

      When asked about the incident, Misra claimed the press reports had greatly exaggerated SoftBank’s role. He chalked SoftBank’s call-buying up to “diversification”, using the proceeds from sales of some of its Alibaba stake (it also recently agreed to sell Arm to chipmaker rival Nvidia).

      Some attributed a recent run-up in the value of tech stocks to SoftBank’s purchases. Misra dismissed that idea in the interview Monday.

      “Are we buying a few billion of other stocks to diversify away from the Alibaba we sold in the past six months?” Misra asked.

      “We’re still sitting on a lot of cash. It’s a liquidity-management strategy, it’s a diversification strategy.”

      “Nobody buying $10 billion of Nasdaq over a few weeks is going to move the Nasdaq. We’re not even a dolphin; forget being a whale.”

      Misra must be relying on the ignorance of his audience here, because $10 billion in Nasdaq calls – with a notional value far higher – purchased strategically and during relatively illiquid periods in the trading day could potentially induce dramatic swings in markets.

      As speculation turns to the object of SoftBank’s desire, one twitter user remarked that SoftBank may have finally found a way to reshape one of its most embarrassing failures.

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      Total proceeds from special purpose acquisition companies raised $10 billion in August after a record of $10.5 billion in July, compared to a total of $17 billion funding from traditional initial listings for the past two months, according to data from Refinitiv. More than $40 billion via SPAC deals has already been raised on US stock exchanges this year. 

      Then again, perhaps SoftBank Chairman Masayoshi Son sees an opportunity to immediately restore his sullied reputation by turning around one of the most ill-conceived of the last decade’s richly funded startups: Quibi.

    • Johnson & Johnson Latest To Halt COVID-19 Vaccine Trial Over Unspecified Illness
      Johnson & Johnson Latest To Halt COVID-19 Vaccine Trial Over Unspecified Illness

      Tyler Durden

      Mon, 10/12/2020 – 21:14

      Yet another high-profile Phase 3 vaccine trial has been temporarily halted after one of the participants developed a suspicious illness.

      According to a report published Monday night by STAT News, Johnson & Johnson has informed participants and researchers that its 60,000-person trial would be temporarily paused as the company and the Data and Safety Monitoring Board, the organization overseeing all the US COVID-19 trials.

      JNJ confirmed the pause when contacted by STAT, though it offered no details about the illness or the patient.

      Contacted by STAT, J&J confirmed the study pause, saying it was due to “an unexplained illness in a study participant.”

      The company declined to provide further details. “We must respect this participant’s privacy. We’re also learning more about this participant’s illness, and it’s important to have all the facts before we share additional information,” the company said in a statement.

      According to STAT, the DSMB was convened late Monday evening to start looking into the case. J&J said that in cases like this, “it is not always immediately apparent” whether the participant who experienced an adverse event received the experimental vaccine, or a placebo.

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      Pauses like these aren’t uncommon in vaccine trials.

      “If we do a study of 60,000 people, that is a small village,” the source said. “In a small village there are a lot of medical events that happen.”

      But these trials are drawing more scrutiny ever since the AstraZeneca-Oxford trial was put on hold by regulators in the UK after a participant was sickened with symptoms of what was believed to be transverse myelitis, a serious spinal issue. Trials resumed in the UK, India and elsewhere days later, but in the US, an AZ trial remains on hold due to an unspecified issue. Both AZ and US regulators have been suspiciously tight-lipped.

      Already, public health officials in the US, Europe and around the world are worried about waning confidence in the vaccine, with some surveys showing that roughly half the public would rather not take it.

      In a research note published earlier, analysts at Goldman Sachs wrote that trust in the vaccine could be a serious barrier to its ultimate eradication. “We think that the biggest challenge to ultimately lowering the disease burden and virus circulation to very low levels will be convincing the broad population to take the vaccine. Our base case assumes such broad uptake but this will likely require a safe and very effective vaccine, trust in the approval and rollout process, no out-of -pocket costs, and effective public and community campaigns.”

      JNJ is using an adenovirus vector, like several other top vaccine projects.

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      Futures ticked lower on the news.

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      But there was no evidence of the intense selling pressure that followed news about the initial AstraZeneca-Oxford vaccine project halt.

    • NBA Finals Game 6 Saw Ratings Crash 66% Despite Being Season Finale
      NBA Finals Game 6 Saw Ratings Crash 66% Despite Being Season Finale

      Tyler Durden

      Mon, 10/12/2020 – 21:00

      The last game of the NBA Finals – arguably the most important game of any NBA season – posted ratings that were about 66% lower than last year’s Game 6, according to Breitbart. It is the latest bad news in a stunning collapse in ratings for the league and, specifically, for the NBA Finals series this year.

      For comparison, Sunday night’s Seahawks versus Vikings regular season NFL game, featuring one team that hasn’t won a game all year, had nearly twice the views of the game where LeBron James clinched his fourth NBA Championship, according to ShowBuzzDaily

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      Recall, just days ago we noted that “Player Protests/Politics” were cited as a driving force as to why people were abandoning watching the NBA. In a recent poll on Yahoo Sports with 22,266 responses, people were asked why they thought the NBA’s ratings had dropped off. Player protests/politics was the overwhelming favorite, at 61%, as to why people are turning away from the NBA.

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      We also noted that Game 3 of the finals averaged just a 3.1 rating and 5.94 million viewers, making it “the least watched and lowest rated NBA Finals game on record,” according to Yahoo Sports. Days prior to that, we noted that Game 2 also saw a ratings collapse of 68% to all time lows. 

      Game 1 was the lowest viewed finals opener in history. 

      There really doesn’t seem to be much of a spin that the NBA can put on the terrible ratings, other than the league has simply lost the interest of many who would have once tuned in. In fact, one of the league’s most “outspoken” voices on oppression and racism, LeBron James, should have been the feature draw for this year’s finals. 

      Instead, it appears that he was exactly what is turning viewers away. 

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      We have also been documenting the recent ratings collapse that the NFL has suffered in the midst of turning its league into a political movement over the last few months.

      In early October the NFL reached out to players, telling them “not to worry” about the decline in ratings. Also in denial, they blamed the Presidential race for the drop in ratings, telling players: “The 2020 presidential election and other national news events are driving substantial consumption of cable news, taking meaningful share of audience from all other programming. Historically, NFL viewership has declined in each of the past six presidential elections.”

    • Sex Pistol Johnny Rotten: "Of Course I'm Voting For Trump"
      Sex Pistol Johnny Rotten: “Of Course I’m Voting For Trump”

      Tyler Durden

      Mon, 10/12/2020 – 20:40

      Authored by Steve Watson via Summit News,

      Sex Pistols and P.I.L. frontman John Lydon, aka Johnny Rotten, confirmed he will vote for President Trump’s reelection in November, reasoning that he does not ‘want a politician running the world’, and angering leftists in the process.

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      While Lydon is British, he also has US citizenship, meaning he is eligible to vote next month.

      The ‘Pretty Vacant’ singer told the BBC he’s “definitely” voting for Trump, noting “He’s an individual thinker, I’ll give him that for a start.”

      “He’s not the most lovable fellow on God’s earth, but I cannot see the opposition as offering me anything by way of a solution,” Lydon added.

      In a further interview with The Guardian, Lydon said “I’d be daft as a brush not to,” vote for Trump, claiming that the President “really is making the country a bit better,” and adding that “He’s the only sensible choice now that Biden is up – he’s incapable of being the man at the helm.”

      Joe Biden is, in all practicality, senile, and delinquently senile. My wife has Alzheimer’s — I know the symptoms,” Lydon said in the BBC interview.

      When the BBC host countered Lydon and suggested there is no evidence that Biden is senile, Lydon responded “Oh, really? Have you seen him talk lately? I can only go on my vast experience, seeing as my wife is suffering from Alzheimer’s.”

      Lydon expanded on his reasoning for supporting Trump, noting that he identified with Trump constantly being accused of racism on a whim.

      “I’ve been accused of the very same thing, so I’m offended for anybody who’s called that,” Lydon said.

      “Of course I’m anti-racism,” Lydon emphasised.

      He also commented on the death of George Floyd, noting “There’s not anyone I know anywhere that wouldn’t say that wasn’t ghastly… It doesn’t mean all police are nasty or all white folk are racist. Because all lives matter.”

      Lydon also spoke about the COVID lockdown, noting “I don’t think lockdown is doing any good for anybody.”

      Wrecking an economy is not the smartest move to cure any illness or virus or disease. We’re all capable of wearing masks. We’re all smart enough not to want to give each other filthy, horrible viruses. Give people the chance to work. Don’t just close everything down. This is not Stalin at work here. But, I swear, the governments are beginning to feel that way. We have to hold ourselves responsible at some point in order for our society to exist at all,” Lydon added.

      “It seems to me that what the Democrats here in America are promising will be tax hikes beyond belief, more lockdowns, more confusion, more bureaucracy and less answers,” Lydon urged, adding “I have seen what Democrats have done to California. They have destroyed this place.”

      Lydon previously expressed support for Trump in 2016, after the election, noting “What I dislike is the left-wing media in America are trying to smear the bloke as a racist and that’s completely not true.”

      “He’s a total cat amongst the pigeons … [He’s] got everybody now involving themselves in a political way. And I’ve been struggling for years to get people to wake up and do that,” Lydon added, after admitting he had not voted for Trump at the time.

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      The punk rocker has since been photographed wearing the iconic ‘Make America Great Again’ apparel:

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      All of this is simply too much to handle for leftists:

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      Others understand Lydon’s stance is more nuanced:

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    • "Is Everyone Afraid? Good": Monday Humor
      “Is Everyone Afraid? Good”: Monday Humor

      Tyler Durden

      Mon, 10/12/2020 – 20:20

      This is what that ‘terror’ looks like in real-life for a brain-washed media crying “nooooo!” when WH Chief of Staff Mark Meadows dares to remove his mask over 10 feet away from them…

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      There is everything to fear, especially fear itself, America!

      And what is it you should be so terrified of? Here are the new CDC reported fatality rates explained for average joes…

      WARNING – trigger alert for those who do ‘old math’ and not new ‘political math’…

      If you accidentally thought for yourself, you’d realize the actual COVID-19 fatality rate is many times lower than the original predictions that were used to justify the lockdowns

      …but let’s not do the math… because we’ve got an election coming up!”

      Sometime to have to laugh, or you’ll just cry!

    • Don't Let The Media Win This Election
      Don’t Let The Media Win This Election

      Tyler Durden

      Mon, 10/12/2020 – 20:00

      Authored by Frank Miele via RealClearPolitics.com,

      The mainstream media have always skewed left in the modern era, but that didn’t mean they were parasitic vampires who fed on the misfortune of others. When Ronald Reagan – the most conservative modern president  elected prior to Donald Trump — was wounded by a would-be assassin’s bullet in 1981, the media reported the event as a matter of national and historic significance. There was no glee and no speculation about President Reagan’s karmic responsibility for his near-death experience.

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      As a young liberal myself then, I experienced the horror of seeing our president shot on camera and the joy of seeing our president and his wife, Nancy, wave from the window of his hospital room several days later. The shooting was a moment of unifying grief, and the rapid recovery was a moment of triumph, not just for President Reagan, but for our people as a whole. Politics be damned.

      Fast-forward four decades. Welcome to “Twilight of the Media: The Week of the Vampires.” When Donald Trump revealed that he had tested positive for coronavirus, the media spoke with almost one voice: Trump got what he deserved. That was the beginning of a week that represents what one can only hope is the low point in media distortion and Fake News, but may also justifiably be described as “situation normal.” It certainly made clear to me and many others what is at stake on Nov. 3.

      Pundits often claim that the 2020 election will be a referendum on Donald Trump, but that is not the case. It should now be apparent — if it wasn’t already — that the upcoming election is a referendum on the media, and their dangerous role as self-appointed arbiters of the truth. And if the media wins, Katie bar the door.

      Like the shadows on the wall of Plato’s Cave, the spectral emanations of the Fake News Media tell us a version of the truth, but it is a truth that has been refracted through a distorting lens that makes everything normal look ugly and everything “Trump” look evil.

      It is hard for anyone who is not chained to a rock to fathom how millions of people can accept the anti-Trump narrative that is projected 24/7 from the studios of CNN, MSNBC, CBS, NBC and the rest. Don’t these millions of people — these “likely voters,” according to multiple polls – have any perspective?

      Well, no, they don’t.

      The problem is that so many people – smart people! – are captive audiences of the incredibly biased and hate-filled “news” coverage typified by CNN. By not exercising their God-given right to turn the channel, they are kept blissfully unaware that they are being deprived of vital information that doesn’t feed the Never Trump narrative.

      Take the recent release of till-now-hidden documents revealing that the CIA, the FBI and President Obama all knew in 2016 that Hillary Clinton had a plan (as far back as July 28 of that year) “to vilify Donald Trump by stirring up a scandal claiming interference by the Russian security service” — and those sworn government officials said nothing whle furthering the Trmp collusion narrative.

      Among other things, that news discredits the two-year long special counsel probe, justifies the firing of FBI Director James Comey, and means Donald Trump was right all along when he called the Russia Hoax the greatest political scandal in U.S. history.

      Except the majority of the American public probably never even heard about these newly declassified documents. The three major traditional nightly news shows on CBS, ABC and NBC knew that the story vindicated President Trump and would hurt Joe Biden, yet they didn’t run it. And when CNN or MSNBC referenced the documents, they magically turned them into weapons against Trump. For instance, when Jake Tapper interviewed former CIA chief John Brennan, whose handwritten notes were the smoking gun that confirmed Clinton had manufactured the plot to destroy Trump, Brennan had the audacity to claim that it was Trump who was playing politics.

      If the media can keep a story of this much significance buried, then clearly they are — just as President Trump claimed — acting as “the enemy of the people.”

      But let’s get back to the president’s diagnosis with COVID, and his speedy recovery from it. It is a case study in media manipulation.

      The New York Times was typical when it declared that “If [Trump] becomes sick, it could raise questions about whether he should remain on the ballot at all.” MSNBC’s Joy Reid raised the possibility that Trump might be faking COVID to get out of future debates with Joe Biden! Tapper condemned the president for his “wanton disregard for human life.”

      When it was apparent that the president did not intend to cooperate with the “divine retribution” narrative, when it was increasingly evident that he might even recover quickly from the Chinese virus, the radicals in newsrooms upped the ante. Trump was a “super-spreader.” Not only that, he was a ghoul who had engineered the deaths of more than 200,000 Americans and must somehow be held accountable. There was talk yet again of impeachment. There was talk of invoking the 25th Amendment. Anything to make Trump look bad.

      One of the most despicable moments in media malevolence came when President Trump reached out to the American people to thank them for their love and concern as he received treatment at Walter Reed National Military Medical Center. Hundreds of decent, caring people had gathered outside the hospital for days with signs of support for their president and just to gather in prayer for him. Again, millions of Americans probably never saw the scene or only heard slanted reports that these must be racist right-wing wackos who hadn’t got the memo about Trump being a menace to society.

      But on Sunday, Oct. 4, the vigil suddenly became big news. Not because it represented an outpouring of love for our president, but because — according to the Fake News Media — Trump had used the crowd and the Secret Service for a self-aggrandizing “photo op” when he briefly left the hospital and drove past the well-wishers to thank them for their support.

      Photo op is an interesting expression. You might well wonder what the difference is between a photo op and a historic moment when a figure of note has his photograph taken as a cherished record of the event. The answer is that if it involves Trump, it’s a photo op.

      When I first heard about this impromptu gathering at Walter Reed, I sought out coverage of the event on the Internet. Thank God for Right Side Broadcasting, a little outfit based in Auburn, Ala., that has traveled the countryside since 2015 to cover President Trump’s rallies and appearances when major networks couldn’t be bothered. I watched as RSBN hosts interviewed those in attendance about why they were there and why Donald Trump meant so much to them.

      These were the people whom the president wanted to thank — not a bunch of white supremacists at all. There were Filipinos for Trump, Somalians for Trump, Latinos for Trump, Vietnamese for Trump, Blacks for Trump. It was the American melting pot, and no network had any interest in showing them. It was CNN and MSNBC that turned them into props, not the president. As long as they were filmed from across the street, they could be characterized as hateful racists, plus our nation’s elite reporters would not have to get up close to all those “smelly,” maskless Trump voters who were no doubt carriers of COVID or some other disease.

      One day later, the president was found by his doctors to be healthy enough to return home to the White House. This was the final straw, and the fourth estate broke under its weight. Worst of all was the moment when President Trump rose, phoenix-like, out of the ashes of his pundit-celebrated “date with destiny.” God was supposed to punish him with a slow and miserable death for not wearing a mask, but instead the president flew away in a helicopter and returned to the White House with a message for everyone who had been living in fear of COVID for the past nine months: Don’t be afraid. “Don’t let coronavirus dominate you.”

      How dare he! If people had died from coronavirus, then certainly we must be afraid of it, the media voices told us. How dare he ride Marine One back to the White House? “A photo op and a power trip. A literal power trip,” said CNN’s Brian Stelter about the helicopter ride, and then he compared the moment to “what strongmen do in autocratic regimes” — as if the White House press corps had not seen the president ride Marine One hundreds of times before. That set the tone for the critiques that would follow. When President Trump waved from atop the steps of the White House and saluted Marine One as it departed, his one-time aide Anthony Scaramucci called it an American Mussolini moment. “We’ve never had a president stand on that balcony and do what he just did,” Scaramucci said inexplicably. Say what? Is waving now considered a symbol of fascism?

      It was Steve Bannon who first classified the mainstream media as “the opposition party.” He was right, and if the media bloodsuckers have their way, then Trump will be defeated decisively on Nov. 3. But if that happens, it doesn’t tell us anything about Trump. What it really means is that the American public is no longer in charge. How can they be when they are entirely dependent on the shadowy half-truths and outright lies of the mainstream media to make decisions?

      I wrote a book called “The Media Matrix” to describe the veil of deception that controls our social and political conversation these days, but at the time I still thought the American public could fight back and reclaim control. Now I’m not so sure. It was Marshall McLuhan who said many years ago that the medium is the message, and in the case of the 24/7 news coverage on TV and Internet, the message is power — raw, unfiltered, corrupting. President Trump exposed it, but in the end he may not be able to defeat it.

    • Why Did Leon Black Pay Jeffrey Epstein $50 Million?
      Why Did Leon Black Pay Jeffrey Epstein $50 Million?

      Tyler Durden

      Mon, 10/12/2020 – 19:40

      Billionaire Leon Black gave his longtime pal Jeffrey Epstein $50 million dollars after the deceased financier got out of prison for pedophilia.

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      The transfer of funds was made in at least two payments, one of which Deutsche Bank flagged as unusual, according to the New York Times, citing ‘two people familiar with the matter.’

      Epstein served as a director on the Leon Black Family Foundation for over a decade, and also accepted a $10 million donation for his Gratitude America foundation from Black’s “BV70 LLC” charity.

      It is true that I paid Mr Epstein millions of dollars annually for his work,” said Black in a Monday letter responding to the Times report. “It also is worth noting that all of Mr Epstein’s advice was vetted by leading auditors, law firms and other professional advisors” Black added – noting that he had ‘once’ picnicked on Epstein’s private island with his family, and that he visited the dead pedophile ‘from time to time’ at his Manhattan townhouse.

      Black’s spokeswoman claims the two stopped communicating after a “fee dispute” in 2018, and that Black “deeply regrets having any involvement with him.”

      “There has never been an allegation by anyone, including The New York Times, that Mr Black engaged in any wrongdoing or inappropriate conduct,” she added.

      Black has previously said Epstein provided him with advice on ‘tax strategy, estate planning and philanthropy.’

      In August, US Virgin Islands attorney general Denise N. George notified a local court that she would issue civil subpoenas to Black, founder of Apollo Global Management, as well as several entities he’s tied to. The subpoenas sought financial statements and tax returns – including those for Black Family Partners and Elysium Management – which oversee some of Black’s $9 billion fortune.

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      Black and his entities paid millions in fees to Epstein’s “Southern Trust Company,” which he established in the Virgin Islands in 2013, according to the Times.

      Other subpoenas will go to Apollo as well as entities that help manage Black’s extensive art collection, according to an August report in the Times. It is unclear whether those subpoenas have been issued.

      In a 2019 letter to Apollo investors, Black claimed to have had a “limited relationship” with Epstein (who managed his family’s foundation), and was “completely unaware” of conduct claimed in new allegations against the pedophile.

      $50 million seems like a lot for someone he had a “limited relationship” with, while it remains unclear exactly what services Epstein performed for such a princely sum. The question everyone wants – or needs – answered, is just why did one of Wall Street’s all-powerful billionaires who is surrounded by the biggest financial brains in the world 24/7, pay an outsider for financial advice. We hope, but doubt, that Black will answer this question outside of a court of law.

    • The World's First Fully Driverless Vehicle Ready To Hit The Roads
      The World’s First Fully Driverless Vehicle Ready To Hit The Roads

      Tyler Durden

      Mon, 10/12/2020 – 19:20

      Authored by Josh Owens via OilPrice.com,

      Waymo just announced its plans to deploy vehicles without backup safety drivers, making a major milestone in a sector that has witnessed many ups and downs and stops and starts. The company, the self-driving unit of Google’s parent Alphabet, said it will soon expand its driverless ride-hailing service to include the general public in Phoenix, Arizona.

      “Beginning today, October 8, we’re excited to open up our fully driverless offering to Waymo One riders. Members of the public service can now take friends and family along on their rides and share their experience with the world,” the company said in a blog post.

      For now, Waymo’s service will still be limited to Phoenix, but the company hopes for that to change in the future. Waymo, and other autonomous vehicle developers, chose Arizona for testing due to an apparent lack of restrictions and regulatory hurdles.

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      Still, offering rides to all customers is a huge advantage over its competitors. Being first always helps with reputation – and revenue. Waymo’s competitors are still in the testing phase.

      The company’s CEO John Krafcik said in a statement that Waymo is looking for the opportunity to bring its driverless services to the company’s home state of California next.

      Waymo started its driverless car development in 2017.

      The following year, the company joined with carmaker Jaguar and announced a deal that included up to 20,000 Jaguar I-PACE electric vehicles in its upcoming autonomous fleet.

      The partnership, worth up to $1.5 billion, is a further mark of Waymo’s ambition in the race against time to beat Uber to the definitive self-driving finish line for a driverless ride-hailing service. Jaguars are set to join the Chrysler Pacifica, which has already been used extensively in testing for the company’s autonomous driving technologies.

      Waymo had previously said it was discussing collaboration with Honda; however, that relationship failed to blossom and Honda recently declared its intention to bring its own fully autonomous vehicle to the market by 2025.

      Waymo is competing with several other players to deploy such vehicles for the masses, but it’s not as easy as they all thought it would be years ago. Pandemic also slowed down the progress.

      Ford is also collaborating with Germany’s Volkswagen and Argo AI to introduce autonomous vehicle technology in the U.S. and Europe. Due to the pandemic, Ford said it will delay its launch plans until 2022.

      Another of Detroit’s Big Three, General Motors, unveiled its first driverless vehicle in January and announced it would start delivering the first vehicle in the next five years.

      Last September, Hyundai said that it would form a $4-billion joint venture with Aptiv to advance the development of production-ready autonomous driving systems. The company announced it would start mass production of driverless cars in 2024.

      As for Uber, sued by Waymo for stealing its trade secrets and settled for $245 million, it’s self-driving division, Advanced Technologies Group (ATG), has had a tough time since a fatal crash involving one of its self-driving cars in 2019.  

    • Kanye West Asks Voters To Write In His Name For President With First Campaign Ad
      Kanye West Asks Voters To Write In His Name For President With First Campaign Ad

      Tyler Durden

      Mon, 10/12/2020 – 19:00

      Anybody who suspected that not making it on the ballot in most states would suppress Kanye West’s drive to be the 46th President of the United States clearly underestimated the depths of his ambition…or overestimated Kris Jenner’s ability to…handle these types of problems.

      Just weeks after accusing his mother-in-law of trying to get him committed via an involuntary psychiatric hold, rapper/producer/entertainer Kanye West has dropped his first campaign ad, encouraging his supporters to write in his name for president.

      Equal parts Calvinist sermon and social justice screed, West encouraged Americans to embrace faith as the path to America’s revival as a nation.

      “To live up to our dream, we must have vision. We as a people will revive our constitution’s commitment to faith…through prayer, faith can be restored. We as a people are called to a greater purpose than ourselves…to help each other, to lift up each other, our fellow Americans, that we may all prosper together,” West said.

      “By turning to faith, we will be the kind of nation, the kind of people, God intends us to be,” West said in front of a black-and-white American flag.

      West announced his presidential campaign in July and has spent at least $6 million from his own money in the effort according to FEC filings.

      Running under the mantle of “the Birthday Party”, West’s ad featured the traditional campaign ad rhetoric about Kanye “approving this message”, along with a text note at the end encouraging voters to “write in Kanye”.

      Last week, he shared  photo of an absentee ballot filled out with his name on the write-in line. It wasn’t exactly clear who’s ballot he was holding.

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      West outlined his oddball platform back in July, which features distinct notes of libertarian paternalism. For example, on the issue of marijuana legalization, Kanye West said he feels it shouldn’t just be legal, it should be free to all.

      Another less radical tenant of West’s platform: Handing out free money to Americans.

    Digest powered by RSS Digest

    Today’s News 12th October 2020

    • Anti-Lockdown Protesters Decry Government Restrictions In Berlin As Virus Cases Surge
      Anti-Lockdown Protesters Decry Government Restrictions In Berlin As Virus Cases Surge

      Tyler Durden

      Mon, 10/12/2020 – 02:45

      Germany recorded a spike in COVID-19 cases last week, promoting Berlin and Frankfurt’s authorities to issue new restrictions to contain the virus spread. The introduction of the restrictions angered residents, as thousands of them were seen protesting across central Berlin Saturday. 

      Last week, the number of new coronavirus infections had significantly increased, as new measures were announced by the government on Tuesday to limit gatherings and close bars and restaurants early. 

      “This is not the time to party,” Berlin’s Mayor Michael Muller said on Saturday. “We can and we want to prevent another more severe confinement.”

      Several thousand anti-lockdown protesters were seen marching on Saturday. Many said the emergence of new restrictions violated their “human rights.” 

      “We are a colorful mix of… people from various ethnic and income level groups, who left all their political affiliations behind and who disagree with the politicization of the coronavirus [pandemic] resulting in restriction of our human rights,” the organizers of “Silent March” said. 

      “A loose column of demonstrators stretched along several major streets of the German capital as they slowly walked from Konrad Adenauer Square in the western part of the city to the Victory Column in the central Tiergarten Park and near the iconic Brandenburg Gate,” RT News said. 

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      Protesters said the pandemic warrants a broader public discussion and end to the “permanent fear campaigns” they say the government has waged on citizens. 

      Organizers initially estimated 20,000 would attend Saturday’s march, though local police said “several thousand” turned out. 

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      RT notes, the march was mostly “peaceful” and there were “no reports of incidents during the demonstration.  

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      As Germany becomes a coronavirus hotspot, many protesters were seen socially distancing while marching down the street. The turnout was much smaller to the tens of thousands seen in August across the German capital city. 

      COVID-19 cases in Germany rose last week and forced the government to impose new restrictions. The country recorded 4,721 new cases on Saturday, the third day of +4,000 cases in a row. 

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      Cases are also jumping in France, Spain, and the UK, along with new cases rising in at least eight US states. 

    • International Students Quit: "This Isn't Sweden"
      International Students Quit: “This Isn’t Sweden”

      Tyler Durden

      Mon, 10/12/2020 – 02:00

      Via FreeWestMedia.com,

      International students at the Dalarna University in Borlänge do not want to live in the student residence which is offered to them in the immigrant suburb Tjärna Ängar, also known as “Little Mogadishu”.

      That is what a representative for Dalarna’s student union wrote in a letter to the university’s board.

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      In 2005 the community housing company Tunabyggen in Borlänge converted two multiple-family homes in the Somali-dense Tjärna Ängar into a student complex with a gym, study spaces, and 126 student apartments, in order to remedy the shortage of student residences in the city.

      A second student housing area with another 59 student apartments lies in an adjacent building. The residence is marketed by Tunabyggen’s communal home page as a “multicultural residential area”. Together they make up more than two-thirds of the city’s student housing.

      But the students don’t want to live in them, Swedish daily Fria Tider reported.

      The university’s rector contacted the municipality four years ago, in connection with a woman being raped, and demanded that they arrange other student housing in the municipality not located in Tjärna Ängar, especially because female students felt unsafe in the immigrant-dense suburb.

      This is unacceptable. Students must be offered a residence when they are accepted, or at least at the beginning of instruction. The housing’s general standard must be reviewed, and above all, students must be able to feel safe and not worry about their personal security. It is not debatable,” said the rector, Marita Hilliges, at that time.

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      Somalis have not been integrated into Swedish society. The Somali community associations are generally based on clan affiliation. According to an interview study done by Malmö University in 2013, Somalis express strong concerns about losing their culture and Islamic religion. Adult Somalis stated their greatest worry was to ensure a Somali identity among their children, which led to endless conflicts with daycare institutions and schools who “ignore their cultural preferences and teach children things which are the exact opposite of what their parents preach”. Photo: Yasin Yusuf

      But the student housing has remained. And now, international students who are placed in the residences are protesting against being forced to live there. After experiencing shootings outside the student residences on several occasions, the students write that they “experience a glimpse of war-torn countries” in Tjärna Ängar with arson and firefights between criminals and police.

      There are many horrific examples in the letter. Several female students have been followed and harassed by “unknown men” and feel that they are unsafe when they are outside the house. Two people were recently stabbed right outside the complex.

      One student awoke in the morning when robbers climbed up the face of the building and into the room. They stole his phone, money, and other valuables. A female student was similarly awakened in the same way by a thief in the room, according to the letter.

      “The general perception of the students is that they don’t feel they are living in Sweden, they don’t hear the language, and can’t experience the culture or traditions, which makes them feel they live in a segregated environment,” reads the letter in which the students demand to be allowed to live somewhere else.

      Many international students, who began university during the autumn, have already dropped out of instruction and left Sweden.

      “Little Mogadishu” boasts a high proportion of immigrants from Somalia, which in the period 2017-18 accounted for 36,8 percent of the area’s inhabitants. Nine out of ten in the area are foreign-born.

      Only between 14 and 17 percent of the population have a high school education and only 36-37 percent of the population aged 25-64 have a job. Some 16,2 percent are unemployed and 39,8 percent of the population receive social benefits.

      The official population was 3 500 in 2018, but unofficially, analyses of waste volumes and water consumption indicate that the actual number may be closer to 10 000.

      The district has been classified by the Swedish police’s National Operational Department (NOA) as a risk area where “the situation is considered alarming” with 83 percent of the inhabitants under 45 years old and 54 percent under 25.

      Drug trafficking is the main economic activity in the area and it has a parallel legal system used by at least parts of Tjärna Ängar’s population.

    • 'Adjustment Day' Looms As America's Headed For Violent Civil War
      ‘Adjustment Day’ Looms As America’s Headed For Violent Civil War

      Tyler Durden

      Mon, 10/12/2020 – 00:00

      Authored by Jef Costello via Counter-Currents.com,

      On October 1st, with little fanfare, Politico published an extraordinary opinion piece that may be the most important thing I’ve read all year. Titled “Americans Increasingly Believe Violence is Justified if the Other Side Wins,” the essay was penned by three “senior fellows” at the Hoover Institution, New America, and the Hudson Institute, as well as a professor of “political communication” at Louisiana State University and a professor of government at the University of Maryland (that’s five authors, in case you lost count).

      The major takeaway is presented in the graph that appears below:

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      Way back in November of 2017 (my, how long ago that seems . . . ) a mere 8% of both Democrats and Republicans held that it is legitimate to use violence to advance their political goals. Actually, there’s nothing “mere” about it. It ought to surprise us that such a sizeable percentage of both parties could hold such a radical view. Also surprising is Republicans running neck and neck with Democrats. Contrary to how they are perceived by Leftists, conservatives are slow to embrace the idea of violence, or any sort of punitive measures against their opponents. Their Achilles heel, in fact, is commitment to “fair play.”

      We must remember that when these numbers were compiled it had been a year since the 2016 election. A year of unhinged rhetoric by the Left, and repeated calls for Trump to be assassinated. Madonna spoke about her fantasies of blowing up the White House, and “comedian” Kathy Griffin held up an effigy of Trump’s severed head. Of course, those were the unserious, tongue-in-cheek threats. Countless other people made similar threats, quite openly, and seemed to be pretty serious about it. To my knowledge, none of them was charged with a crime.

      As Trump Derangement Syndrome continued to spread, it was actually a healthy sign that more Republicans began to entertain the idea of using violence as a political tool. Leftists presented themselves as having no boundaries. There was no low to which they would not stoop, no trick too dirty. They were threatening to attack and kill not only the President, but his supporters, and, in fact, the entire white race. They made it quite clear that they could not be reasoned with. Faced with an enemy like this, violence was bound to become more attractive, or at least more justifiable, in the eyes of even the most mild-mannered Republican voter.

      Almost a year later, in October 2018, the percentage of Democrats condoning violence had jumped to 13. It had become obvious to them, at this point, that the results of the 2016 election were not going to be reversed, though many still held out the hope that Robert Mueller would uncover some dirt that would prove Trump’s undoing. True to form, conservatives lagged behind (see what nice people we are?), with a mere 11% condoning violence. Still, the number had risen. At least part of this has to be attributed to the Kavanaugh hearings (of September-October), which were a wakeup call for many Republicans, including Lindsay Graham, who seems to have sort of lost his innocence as a result. The hearings proved once and for all, if any more proof had been needed, that liberals have no principles whatever, and that attempts to play fair with them will only backfire. One can’t really blame Republicans for that 11%. Please pass the ammo.

      By December 2019, things had gotten genuinely scary. The trend had continued. And how. This was the month that the House approved articles of impeachment against Trump. Earlier in the year, in April, the Mueller report was made public, revealing that we had been subjected to two solid years of hysteria about “Russia collusion” for absolutely no reason whatever. The libs were frustrated, to put it mildly. 16% of them now condoned violence. Republicans were behind the curve again, but not by much, with 15% of them thinking the same way.

      But we hadn’t seen anything yet. That was before COVID and BLM. By June of the current year, these percentages had doubled, and Dems and Republicans were now equally in favor of breaking heads: 30% of both groups now condoned violence to advance political goals. Let us pause to consider this number once more: 30%. Let us also pause to consider that this poll was conducted at the beginning of June, when the George Floyd riots had just gotten going.

      By September 1st, the percentage of liberals condoning violence had risen by just three points. Still, at 33% this constitutes one third of all Dems. The more interesting result came from the Republicans, however. The percentage in question had risen to 36%, and for the first time, Republicans rated as more violence-approving than Dems. If you will read the fine print, you will find that the September poll’s margin of error is 2.0 percentage points. Thus, the three percentage points separating Republicans from Democrats are statistically significant; conservatives are now demonstrably more in favor of violence than liberals.

      Has the sleeping giant awakened?

      We were slow to consider violence an option. Unlike liberals, after all, we really do have principles, and we did not want to be like them. But they have pushed us to this point, and it’s difficult to see how there can be any debate about that. Months of watching our cities burn. Months of our history being torn down. Months of draconian lockdowns and arbitrary rules imposed by Democrat governors and mayors. Months of being told that we had to shelter in place, while BLM was given free rein to loot and burn. Months of being told we have no right to defend ourselves; that if you are white, you are automatically guilty. Countless lives and businesses destroyed. Given all of this, and more, it’s surprising that the number isn’t 56% — or 76% or 86%. But since many conservatives are probably afraid to say they might condone violence, I think we can round that 36% up a bit. Quite a bit.

      The other day I spoke with a friend who lives in New York. He told me that he recently drove to his local rifle range, which he has visited many times in the past. He had not been there for several months, however, and when he arrived he was shocked to find a line stretching out the door (made up entirely of white people) and what wound up being a 45-minute wait. When he finally got inside, he asked the proprietor about the large turnout and was told that it had been like this every weekend since the BLM riots began, and that the numbers were increasing. I hope all those folks brought their own ammo, because my friend also told me the store was completely sold out. And this was New York, not South Carolina.

      Two weeks prior to the Politico essay, The Hill published an opinion piece by a former federal prosecutor titled “Why Democrats Must Confront Extreme Left-wing Incitement to Violence.” It’s a weak and cowardly piece of writing but is nevertheless interesting on multiple levels. The author begins by asserting that Right-wing groups “by far pose the greatest threat of violence.” He bases this on a study by something called the Center for Strategic and International Studies (CSIS). This group looked at 900 cases of politically motivated plots or attacks since 1994, and concluded that Right-wing extremists had claimed the lives of 329 people, whereas “Antifa members haven’t killed any.”

      This is like somebody saying, in January of 2020, “Over the last 25 years, seasonal flu has claimed the lives of 890,000 Americans, but COVID-19 hasn’t killed any Americans. Therefore, the flu is the real threat.” This would have been a ridiculous position, because COVID was something new and entirely unknown. We had no way of knowing, in January, how dangerous COVID was going to be. And, since then, it has, in fact, claimed far more American lives than the flu ever takes in a given year.

      Similarly, since May we have seen Left-wing violence the likes of which this country has not seen since the 1960s. And this phenomenon is fundamentally new because it has been condoned and encouraged by state and local officials, prominent Democrats in Congress, and establishment journalists and pundits. The authors of the CSIS study warn of the dangers posed by groups like the “boogaloos,” a group of “Right-wing, anti-government extremists” bent on “creating a civil war in the United States.” Oddly enough, I’d never heard of the boogaloos until reading this article, and I think I’m pretty “plugged in.”

      I know nothing about this group, but I do know one thing for certain: if the boogaloos, or any other “Right-wing extremists” took to the streets and behaved as BLM and Antifa have behaved — looting, burning, assaulting, threatening, or even just blocking traffic — they would have been crushed within twenty-four hours. All the might of state and local police forces and federal law enforcement would have been unleashed against them, and the cops would not have played nice. Many “Right-wingers” would have wound up dead or injured, and the survivors would have faced extensive criminal charges.

      This, gentle reader, is why “Right-wing violence” is not the greater threat. Left-wing violence is taking place with the approval and support, financial and otherwise, of the establishment. It is a threat to all ordinary Americans, especially white Americans. Right-wing violence only poses a threat (so far, a very mild one) to the establishment.

      The author of The Hill piece, while claiming that Right-wingers pose the greatest threat, wishes nonetheless to warn liberals that their own people are becoming far more violent and that they need to address this problem. This is after referring to the riots we’ve seen since May as “overwhelmingly peaceful social justice protests.” But he fears Democrats aren’t listening:

      Perhaps Democrats are afraid of leaving the impression of a false equivalency between extreme right- and left-wing violence. Perhaps they are fearful that acknowledging the threat posed by extreme left-wing incitement gives credibility to Trump’s false narrative that Democrat-run cities are burning because of left-wing violence (they are not burning) and his promotion of outlandish conspiracy theories, such as that people in “the dark shadows” allegedly control Joe Biden.

      In other words, the author, a Leftist in deep denial about the threat posed by the Left, wonders why the Left is in such deep denial about the threat posed by itself. You can’t make this stuff up.

      In August, Joe Biden asked “Does anyone believe there will be less violence in America if Donald Trump is reelected?” This was widely interpreted by conservatives as a threat. The truth is that the violence will continue regardless of who wins the election. Trump’s reelection will guarantee further violence by the Left. But since Democrats have encouraged the violence and done nothing to contain it, there is every reason to believe that it will continue if Biden wins. Indeed, the “hands off” attitude the establishment has taken to Left-wing violence makes it almost inevitable that the violence will escalate, meaning that it will become more deadly. The Far Left has been emboldened.

      If Biden does win, and if the Democrats manage to gain complete control of Congress, we can look forward to an assault on the first and second amendment rights of Americans, in the form of hate speech legislation and gun control. Further, Biden and Harris have signaled that they will pack the Supreme Court — simply by repeatedly refusing to answer the question of whether they will. Democrats are also likely to grant statehood to the District of Columbia (thus increasing their numbers in Congress), amnesty millions of illegals and put them on a fast track to citizenship, and abolish the Electoral College.

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      This is, quite simply, a recipe for civil war — of some kind or other. It is certainly a recipe for the further fragmentation of the country. 62% of white men voted for Trump in 2016, and none of them wants what I have just indicated the Democrats have to offer. The elimination of the Electoral College, if it happens, could be the country’s tipping point toward dissolution. It would mean that millions of Americans in the heartland of the country (most of them white) would be politically disenfranchised. The situation in the US is already volatile; the disenfranchisement of large numbers of citizens would make it much worse. This is particularly true given that those citizens are the backbone of the country: their decency, hard work, and tax money keep it afloat. It is unlikely that those people would readily accept living at the mercy of a combination of urban elites and non-white freeloaders.

      Of course, the same situation would be created if demographic projections are borne out, and whites become a minority by 2044, regardless of what happens to the Electoral College. And the re-election of the hapless Trump would not even slow this process. Given demographics, our long-term prospect is a Democratic takeover. So that even if Democrats lose in 2020 — even if they lose big — everything I projected above about what the Democrats will do when they take power is still going to happen, it just may take a little longer.

      My own prediction for what will happen to the US is that it will eventually split up along racial and political lines. Already, there is hardly any “union” to assess the state of. Further, all signs now indicate that this is not going to be a peaceful process. The Left began the violence, and they have now succeeded in pushing a whopping 36% of conservatives to approve of answering violence with violence.

      Some of my readers will greet these claims with skepticism. Average Americans find it impossible to imagine their country disintegrating in violent conflict. This is the result of years of propaganda about the “stability” of our Republic, the “miracle” of our peaceful transfer of power every four years, yada yada. Average Americans are bizarrely oblivious to just how violent this country really is and always has been (something that has not escaped the notice of the rest of the world): sky-high rates of murder, rape, and assault; urban riots every few years; the assassination of political figures; regular “spree killings”; and a civil war that claimed the lives of around 700 thousand people. Average folks may not want to think about it, but a second civil war is quite plausible.

      My readers on the Right, who are far more discerning than average folks, may be skeptical for different reasons. According to some of them, the chances of violent civil war or revolution are zero, since the establishment has far greater firepower. As I said above, if the Right took to the streets like BLM, they would be mercilessly crushed. But suppose they did it again. And again. And suppose the anger that sent them out into the streets did not diminish, but increased. It is naïve to think that determined individuals, through persistent guerilla warfare and other forms of resistance, cannot destabilize a government — especially when the government is run by decadent, out-of-touch elites who inhabit an ideological and social bubble. It has happened before, and can happen again.

      Of course, the goal should not be “revolution.” There is no reason to want to “take over” the United States, because it is not desirable that the United States should continue to exist. We don’t want to live with these people anymore, even if we are the ones “in charge.” Instead, what we should aim for is independence — in other words, the partitioning of the country; carving our own country out of this country and saying goodbye to those other people. Folks, it’s either that or persuade the Europeans that we have the right of return. But that’s not going to happen.

      So here are my predictions for the near future:

      Left-wing violence will continue, indeed it will escalate. However, white conservatives will be increasingly willing to challenge Leftists in the streets. The Politico numbers persuasively suggest that this is likely, and we already see signs of it (notably, the Kyle Rittenhouse episode).

      A Trump loss will further radicalize many white conservatives. A Trump win will also radicalize white conservatives, because the response will be even more violence from Leftists. The continued anti-white rhetoric, which shows no signs of abating, will also do the work of radicalization. I predict that we will see more acts of domestic terrorism perpetrated by Right-wing groups, and that many new such groups will spring up in the next several years. These acts will be heavily condemned by all the usual suspects, but this will have little effect, since the double standard is now too obvious. Even Mom and Dad, drinking Snapple and watching Hannity, will now approve of Right-wing violence.

      Unlikely? Look at that chart above and think again. How likely is it that the trend has peaked at 36%?

      I also predict that we will see cases of mini-secessions, in which towns, cities, and counties that are largely white and Republican will begin resisting the power of state and federal governments (e.g., not enforcing certain laws). This will make parts of the country hard to govern. These areas will become a mecca for white conservatives. They will grow in population and geographic reach, as new arrivals take residence just over county or city lines. Tired of the dirty looks they get, many non-whites and liberals will go elsewhere. In short, there will be de facto secession before secession is ever made official.

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      By the way, had I made prognostications about “civil war” as little as a year ago, I would have done so with the caveat “probably not in our lifetime.” Now I am definitely not so sure. It’s hard to believe, but the scenario envisioned by Chuck Palahniuk in Adjustment Day is becoming more plausible with each passing week.

      *  *  *

      You can buy Jef Costello’s “The Importance of James Bond” here

    • US Army To Receive "Astonishingly Powerful" Electric Robot Tank
      US Army To Receive “Astonishingly Powerful” Electric Robot Tank

      Tyler Durden

      Sun, 10/11/2020 – 23:30

      According to Military.com, Textron Systems, via its subsidiary Howe & Howe, is set to deliver two versions of a new robotic tank to the US Army. 

      Textron will deliver up to four 10-ton Ripsaw M5 Robotic Combat Vehicle prototypes by the end of this year; each of the tanks will be outfitted with a diesel-hybrid powertrain. An all-electric version of the M5 will be delivered in the first half of 2021 for pilot testing. 

      Ripsaw M5

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      Textron Systems’ Ripsaw M5 unmanned vehicle at the 2019 Association of the United States Army’s annual meeting. h/t Textron 

      “The RIPSAW® M5 is mission-ready,” Textron tweeted earlier this month. 

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      Flushed with cash, the Army has been on a modernization spree during President Trump’s first term in office. 

      “We’ve spent $2.5 trillion over the term in office, my term,” Trump recently said. “That’s over three and a half years — think of that $2.5 trillion. I took over a depleted military, old equipment, broken equipment.”

      During this time, the Army has been searching for a light, medium, and heavy version of fully autonomous tanks to give infantry commanders the option of sending robots into harm’s way before human troops. The use of autonomous systems on the modern battlefield could save lives during the next war, if that is against Iran, China, and or Russia. 

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      Sara Willett, program director for ground robotics at Textron, told reporters Thursday that the all-electric M5 will not have a cannon mounted on the turret like the standard M5. 

      “It’s a flat deck variant that we will be delivering for the all-electric version,” Willett said. 

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      Michael Howe, senior vice president from Howe & Howe, said, “one of the most exciting points of going all-electric is the performance that we see.” 

      Howe said the M5 is “astonishingly powerful” with two 900-horsepower hybrid electric motors and a diesel range extender.

      “This range extender is just a generator, so it goes into the vehicle itself and allows the vehicle to go … to an extended range of out to 300 to 400 miles,” he explained.

      In September, Army Futures Command directed the Maneuver Capabilities Development and Integration Directorate at Fort Benning, Georgia, to develop new requirements for electric combat ground vehicles. 

    • Escobar: Will Confucius Marry Marx In China?
      Escobar: Will Confucius Marry Marx In China?

      Tyler Durden

      Sun, 10/11/2020 – 23:00

      Authored by Pepe Escobar via The Saker blog, originally posted at The Asia Times,

      Modern China’s deviation from traditional Confucian values has seriously damaged its ‘Mandate of Heaven’…

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      Chinese scholar Lanxin Xiang has written a book, The Quest for Legitimacy in Chinese Politics, that is arguably the most extraordinary effort in decades trying to bridge the East-West politico-historical divide.

      It’s impossible in a brief column to do justice to the relevance of the discussions this book inspires. Here we will highlight some of the key issues – hoping they will appeal to an informed readership especially across the Beltway, now convulsed by varying degrees of Sinophobia.

      Xiang delves right into the fundamental contradiction: China is widely accused by the West of lack of democratic legitimacy exactly as it enjoys a four-decade, sustainable, history-making economic boom.

      He identifies two key sources for the Chinese problem:

      “On the one hand, there is the project of cultural restoration through which Chinese leader Xi Jinping attempts to restore ‘Confucian legitimacy’ or the traditional ‘Mandate of Heaven’;

      on the other hand, Xi refuses to start any political reforms, because it is his top priority to preserve the existing political system, i.e., a ruling system derived mainly from an alien source, Bolshevik Russia.”

      Ay, there’s the rub:

      “The two objectives are totally incompatible”.

      Xiang contends that for the majority of Chinese – the apparatus and the population at large – this “alien system” cannot be preserved forever, especially now that a cultural revival focuses on the Chinese Dream.

      Needless to add, scholarship in the West is missing the plot completely – because of the insistence on interpreting China under Western political science and “Eurocentric historiography”. What Xiang attempts in his book is to “navigate carefully the conceptual and logical traps created by post-Enlightenment terminologies”.

      Thus his emphasis on deconstructing “master keywords” – a wonderful concept straight out of ideography. The four master keywords are legitimacy, republic, economy and foreign policy. This volume concentrates on legitimacy (hefa, in Chinese).

      When law is about morality

      It’s a joy to follow how Xiang debunks Max Weber – “the original thinker of the question of political legitimacy”. Weber is blasted for his “rather perfunctory study of the Confucian system”. He insisted that Confucianism – emphasizing only equality, harmony, decency, virtue and pacifism – could not possibly develop a competitive capitalist spirit.

      Xiang shows how since the beginning of the Greco-Roman tradition, politics was always about a spatial conception – as reflected in polis (a city or city-state). The Confucian concept of politics, on the other hand, is “entirely temporal, based on the dynamic idea that legitimacy is determined by a ruler’s daily moral behavior.”

      Xiang shows how hefa contains in fact two concepts: “fit” and “law” – with “law” giving priority to morality.

      In China, the legitimacy of a ruler is derived from a Mandate of Heaven (Tian Ming). Unjust rulers inevitably lose the mandate – and the right to rule. This, argues Xiang, is “a dynamic ‘deeds-based’ rather than ‘procedure-based’ argument.”

      Essentially, the Mandate of Heaven is “an ancient Chinese belief that tian [ heaven, but not the Christian heaven, complete with an omniscient God] grants the emperor the right to rule based on their moral quality and ability to govern well and fairly.”

      The beauty of it is that the mandate does not require a divine connection or noble bloodline, and has no time limit. Chinese scholars have always interpreted the mandate as a way to fight abuse of power.

      The overall crucial point is that, unlike in the West, the Chinese view of history is cyclical, not linear: “Legitimacy is in fact a never-ending process of moral self-adjustment.”

      Xiang then compares it with the Western understanding of legitimacy. He refers to Locke, for whom political legitimacy derives from explicit and implicit popular consent of the governed. The difference is that without institutionalized religion, as in Christianity, the Chinese created “a dynamic conception of legitimacy through the secular authority of general will of the populace, arriving at this idea without the help of any fictional political theory such as divine rights of humanity and ‘social contract’’.

      Xiang cannot but remind us that Leibniz described it as “Chinese natal theology”, which happened not to clash with the basic tenets of Christianity.

      Xiang also explains how the Mandate of Heaven has nothing to do with Empire: “Acquiring overseas territories for population resettlement never occurred in Chinese history, and it does little to enhance legitimacy of the ruler.”

      In the end it was the Enlightenment, mostly because of Montesquieu, that started to dismiss the Mandate of Heaven as “nothing but apology for ‘Oriental Despotism’”. Xiang notes how “pre-modern Europe’s rich interactions with the non-Western world” were “deliberately ignored by post-Enlightenment historians.”

      Which brings us to a bitter irony: “While modern ‘democratic legitimacy’ as a concept can only work with the act of delegitimizing other types of political system, the Mandate of Heaven never contains an element of disparaging other models of governance.” So much for “the end of history.”

      Why no Industrial Revolution?

      Xiang asks a fundamental question: “Is China’s success indebted more to the West-led world economic system or to its own cultural resources?”

      And then he proceeds to meticulously debunk the myth that economic growth is only possible under Western liberal democracy – a heritage, once again, of the Enlightenment, which ruled that Confucianism was not up to the task.

      We already had an inkling that was not the case with the ascension of the East Asian tigers – Singapore, Hong Kong, Taiwan and South Korea – in the 1980s and 1990s. That even moved a bunch of social scientists and historians to admit that Confucianism could be a stimulus to economic growth.

      Yet they only focused on the surface, the alleged “core” Confucian values of hard work and thrift, argues Xiang: “The real ‘core’ value, the Confucian vision of state and its relations to economy, is often neglected.”

      Virtually everyone in the West, apart from a few non-Eurocentric scholars, completely ignores that China was the world’s dominant economic superpower from the 12th century to the second decade of the 19th century.

      Xiang reminds us that a market economy – including private ownership, free land transactions, and highly specialized mobile labor – was established in China as early as in 300 B.C. Moreover, “as early as in the Ming dynasty, China had acquired all the major elements that were essential for the British Industrial Revolution in the 18th century.”

      Which brings us to a persistent historical enigma: why the Industrial Revolution did not start in China?

      Xiang turns the question upside down: “Why traditional China needed an industrial revolution at all?”

      Once again, Xiang reminds us that the “Chinese economic model was very influential during the early period of the Enlightenment. Confucian economic thinking was introduced by the Jesuits to Europe, and some Chinese ideas such as the laisser-faire principle led to free-trade philosophy.”

      Xiang shows not only how external economic relations were not important for Chinese politics and economy but also that “the traditional Chinese view of state is against the basic rationale of the industrial revolution, for its mass production method is aimed at conquering not just the domestic market but outside territories.”

      Xiang also shows how the ideological foundation for Adam Smith’s The Wealth of Nations began to veer towards individualist liberalism while “Confucius never wavered from a position against individualism, for the role of the economy is to ‘enrich people’ as a whole, not specific individuals.”

      All that leads to the fact that “in modern economics, the genuine conversation between the West and China hardly exists from the outset, since the post-Enlightenment West has been absolutely confident about its sole possession of the ‘universal truth’ and secret in economic development, which allegedly has been denied to the rest of the world.”

      An extra clue can be found when we see what ‘economy” (jingji) means in China: Jingji is “an abbreviate term of two characters describing neither pure economic nor even commercial activities. It simply means ‘managing everyday life of the society and providing sufficient resources for the state”. In this conception, politics and economy can never be separated into two mechanical spheres. The body politic and the body economic are organically connected.”

      And that’s why external trade, even when China was very active in the Ancient Silk Road, “was never considered capable of playing a key role for the health of the overall economy and the well-being of the people.”

      Wu Wei and the invisible hand

      Xiang needs to go back to the basics: the West did not invent the free market. The laisser-faire principle was first conceptualized by Francois Quesnay, the forerunner of Adam Smith’s “invisible hand”. Quesnay, curiously, was known at the time as the “European Confucius”.

      In Le Despotisme de la Chine (1767), written 9 years before The Wealth of Nations, Quesnay was frankly in favor of the meritocratic concept of giving political power to scholars and praised the “enlightened” Chinese imperial system.

      An extra delicious historical irony is that laisser-faire, as Xiang reminds us, was directly inspired by the Taoist concept of wu wei – which we may loosely translate as “non-action”.

      Xiang notes how “Adam Smith, deeply influenced by Quesnay whom he had met in Paris for learning this laisser-faire philosophy, may have got right the meaning of wu wei with his invention of “invisible hand”, suggesting a proactive rather than passive economic system, and keeping the Christian theological dimension aside.”

      Xiang reviews everyone from Locke and Montesquieu to Stuart Mill, Hegel and Wallerstein’s “world system” theory to arrive at a startling conclusion: “The conception of China as a typical ‘backward’ economic model was a 20th century invention built upon the imagination of Western cultural and racial superiority, rather than historical reality.”

      Moreover, the idea of ‘backward-looking’ was actually not established in Europe until the French revolution: “Before that, the concept of ‘revolution’ had always retained a dimension of cyclical, rather than ‘progressive’ – i.e., linear, historical perspective. The original meaning of revolution (from the Latin word revolutio, a “turn-around”) contains no element of social progress, for it refers to a fundamental change in political power or organizational structures that takes place when the population rises up in revolt against the current authorities.”

      Will Confucius marry Marx?

      And that brings us to post-modern China. Xiang stress how a popular consensus in China is that the Communist Party is “neither Marxist nor capitalist, and its moral standard has little to do with the Confucian value system”. Consequently, the Mandate of Heaven is “seriously damaged”.

      The problem is that “marrying Marxism and Confucianism is too dangerous”.

      Xiang identifies the fundamental flaw of the Chinese wealth distribution “in a system that guarantees a structural process of unfair (and illegal) wealth transfer, from the people who contribute labor to the production of wealth to the people who do not.”

      He argues that, “deviation from Confucian traditional values explains the roots of the income distribution problem in China better than the Weberian theories which tried to establish a clear linkage between democracy and fair income distribution”.

      So what is to be done?

      Xiang is extremely critical of how the West approached China in the 19th century, “through the path of Westphalian power politics and the show of violence and Western military superiority.”

      Well, we all know how it backfired. It led to a genuine modern revolution – and Maoism. The problem, as Xiang interprets it, is that the revolution “transformed the traditional Confucian society of peace and harmony into a virulent Westphalian state.”

      So only through a social revolution inspired by October 1917 the Chinese state “begun the real process of approaching the West” and what we all define as “modernization”. What would Deng say?

      Xiang argues that the current Chinese hybrid system, “dominated by a cancerous alien organ of Russian Bolshevism, is not sustainable without drastic reforms to create a pluralist republican system. Yet these reforms should not be conditioned upon eliminating traditional political values.”

      So is the CCP capable of successfully merging Confucianism and Marxism-Leninism? Forging a unique, Chinese, Third Way? That’s not only the major theme for Xiang’s subsequent books: that’s a question for the ages.

    • SpaceX Joins Pentagon Developing 7,500 MPH Weapons Delivery Rocket That Can Reach Anywhere On Earth In An Hour
      SpaceX Joins Pentagon Developing 7,500 MPH Weapons Delivery Rocket That Can Reach Anywhere On Earth In An Hour

      Tyler Durden

      Sun, 10/11/2020 – 22:30

      Given Elon Musk’s deepening ties to China, it’s no wonder the Pentagon thought it a great time to sign a contract with SpaceX to “jointly develop a rocket” that can “deliver up to 80 tons of cargo and weaponry anywhere in the world” in just an hour’s time.

      Tests on this rocket are expected to begin next year, according to Futurism. The rocket is expected to move weapons around the world 15 times faster than existing aircraft already do. 

      General Stephen Lyons, head of US Transportation Command said: “Think about moving the equivalent of a C-17 payload anywhere on the globe in less than an hour.”

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      He continued: “I can tell you SpaceX is moving very, very rapidly in this area. I’m really excited about the team that’s working with SpaceX.”

      A trip from Florida to Afghanistan, which is 7,652 miles, could be done “within about an hour” with the 7,500 MPH rocket, according to The Times. It takes conventional aircraft about 15 hours to make the same trip. 

      The project indicates that SpaceX is leaning on military partnerships – and also indicates that the U.S. military clearly doesn’t see Elon Musk as a security threats, despite his deepening ties to China (which we have detailed here). SpaceX also landed a contract last week to manufacture four missile-tracking satellites, Futurism notes.

      The army has also previously approached Musk’s company about converting its Starlink satellites into a military navigation network. The Space Force has also said they are working closely with SpaceX after they awarded the company a contract in August. 

      If this program has the resounding success of the Hyperloop line Elon Musk was supposed to install in Chicago, we can’t wait to see these promises come to fruition!

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    • Who Survives? …It's A New Morning In Hell
      Who Survives? …It’s A New Morning In Hell

      Tyler Durden

      Sun, 10/11/2020 – 22:00

      Authored by John Steppling via Off-Guardian.org,

      “it’s the proper morning to fly into Hell.”

      – Arthur Miller (The Crucible)

      “One of the greatest delusions of the average man is to forget that life is death’s prisoner.”

      – Emil Cioran (On the Heights of Despair)

      Increasingly, I think, the American public operates in a mild dissociative state. I wrote about it here. It is almost as if people are afflicted with a kind of PTSD – only one where the trauma is generalized, relatively low grade, but ongoing.

      Any of us who have questioned the Covid narrative have had to put up with an inordinate amount of hectoring, name-calling, ridicule, and ostracism. I remember when I signed on the artist appeal as part of the Milosevic Defense Committee, and the abuse and anger I faced whenever this topic came up. People who had no history with the region, knew little of the political landscape, would nonetheless wax irate, furious and near tears that I would hold such outrageous positions.

      Now, over a decade later, two members of that committee have won Nobel Prizes (Harold Pinter and Peter Handke). You would think that might cause people to take a moment, reflect, recalibrate their thinking on the topic. But alas, it rarely does.

      The Covid narrative has generated the same near-hysterical indignation. The narrative, as it has been constructed by the WHO, CDC, and more likely a dozen or so billionaires (including Bill Gates) is so rife with contradiction and illogic that one might think cracks would begin to show.

      That many who accept the word of authority in general, might at this point start to question why none of this story makes sense. But no. Not in America anyway. (or rather, to be more precise, there is a pushback, but it keeps to a low profile lest the little Cotton Mathers of the haute bourgeoisie put one in the stocks).

      Leave it to America to make the flu into a morality play. However there are clear signs of people waking up. In Europe certainly.

      And not only Germany, doctors and health care professionals in Belgium, too. But the governments are sticking to the story they were handed.

      In Norway here I still cannot drive to Sweden. Why? Who knows, there is no reason provided. The PM uttered something about better safe than sorry, and staying the course. Everything is discussed this way, in infantile baby talk, gibberish and slogans. Anti-democratic edicts delivered as if by a kindergarten teacher.

      Someone wrote to me on social media the other day and said “Not everyone gets to live in Norway. Here we are surrounded by death”. Now he lives in Los Angeles. In a nice westside area. He is not surrounded by death. Or rather only in his hallucinatory inner theatre of the mind is death present, surrounding him.

      But this language has a quality I associate with Hollywood. Its kitsch image-making. Never mind it’s literally not remotely true. But this is a version of something that I think happens all the time now. This man is in his own private movie.

      It is a movie made of diverse parts; there is something from all the various post-apocalyptic zombie films (and TV, think Walking Dead), there is something of Norman Rockwell in there, or even Thomas Kincaid, there is Dr Phil and Oprah and the cheapening of emotion. The snarky pedestrian thoughts of a Bill Maher, too.

      This is what has come to pass for public intellectuals and intellectual discourse. All are almost impossibly banal. There are parts from a dozen disaster movies, too. I mean literally all the way back to Towering Inferno. And there is, perhaps most significantly, a quality that is harder to define or outline, but which I associate with JJ Abrams and Joss Whedon.

      It is a quality of comforting superficiality, of controlled threat in worlds of generic cheeriness. Interestingly both were born in NY and are only a year apart in age (mid fifties). Both have a background in animation and computer generated affects. Both came out of a comic book sensibility and have, more than anyone else in contemporary media, helped to shape the manufactured nostalgia for a fantasy of America.

      It is the creation of a longing for a past that never was. But both have established a universe of whiteness and equilibrium where the threat is from without.

      For it cannot be from within because there is no ‘within’.

      In that sense these are the anti Psychoanalytic purveyors of a youth culture for adults. A comic or cartoon world view in which the sentimental plays an enormous role. It is a world without tragedy or real suffering. And just beneath the surface but always implied, is a respect for authority. It is also a world where one is encouraged NOT to grow up.

      The Covid story takes place in a universe of Whedon and Abrams, with parts of The Hunger Games, Breaking Bad, and the films of John Hughes. (Hughes was really the precursor for both Whedon and Abrams). Covid is taking place on the streets where Breakfast Club was filmed. In people’s heads anyway.

      Covid the virus is an overdetermined symbol — and one that only makes even a tiny bit of sense if it is located in these personal streaming sites in your brain. (and I recommend Jonathan Beller, The Cinematic Mode of Production).

      There is a tendency toward fetishization, too, and hence the ubiquitous appearance and opinion of celebrities. Its bordering on surreal much of the time: Hip Hop moguls are asked about climate change, Silicon Valley billionaires voice opinion on overpopulation or vaccinations, soap opera stars offer thoughts on stem cell research.

      Nothing is investigated, really. It is all driven by whatever is most lurid or sensationalized. The ruling class has clearly encouraged, if not mandated, a certain line of thinking on the pandemic. The ruling class has profited enormously from the lockdown, and is quite happy with a semi-permanent state of crisis.

      In fact it is likely that this was at least partly all planned. I mean what does one think those billionaires at the Bilderberg meeting talk about? Or at DAVOS or the like? The ruling elite anticipated crises in Capitalism, and the lockdown certainly provides cover for massive plunder or pensions, real estate, and really, most everything.

      But the system, to some extent, does the work for the ruling class without instruction at this point. For revenue is generated by blood and violence, and secondly by sex. The template has already been put in place. (If it bleeds it leads). Although something has happened to the ‘sex sells’ dimension of the Spectacle. People seem less and less in the throws of passion or lust.

      The societies of the west are declining into some form of neurasthenic bloodless onanism. The consumption of porn is up, but I’m pretty sure sex acts are actually down. And the allegorical dimension of the Covid narrative serves as both substitute gratification and as a symbolic purification ritual.

      This week Trump announced he had “tested positive”. He had been campaigning for the previous week and felt fine. Then he tested positive and is described as having flu-like symptoms. That this is part of a strategy I have no doubt, but I also could not begin to describe that strategy. But the magical appearance of symptoms the minute he tested positive echoes the overall magical thinking involved in this entire narrative.

      There is a veritable mania, now, concerning testing. And yet even the NYTimes admits the tests are virtually meaningless. But no matter. We must test more!

      Magical thinking permeates the climate discourse, as well. Never in history, or never since the Enlightenment, have so many people pretended to know so much. For the educated thirty percent (white and reasonably affluent) it is the era of the TED talk. Nothing dare last longer or be more demanding than a quick (and entertaining) ten minutes. The fires in California have come primarily from downed power lines (badly out of date and rarely serviced), but exacerbated by homeless encampments (rarely mentioned) and fireworks — and of course the drought that has extended backward a decade.

      California has always burnt. It was part of the ecosystem to rid the hills and forests of dead of dead shrub and trees. Climate is clearly a part — snowpack is down, and summer heat has dried out shrubbery. But much of what is dried out is shrub not native to California (stuff like cheatgrass, a native of Asia and parts of Africa, and notoriously invasive) whose forests are overstocked anyway.

      Infrastructure in America is rotting, and per California, the wild areas have been neglected for almost a hundred years. But that is not a part of the narrative. The narrative must be about the rebellion of Earth itself and population. And population matters only in terms of who can afford to over consume. The problem is that the most obvious pollution issues (militarism and the packaging industry) are never addressed.

      US imperialism is the cause of most of the suffering in the world. Most of the instability. But the infantile anthropomorphizing of much green discourse is just more baby talk. I often hear “we are waging war against ourselves”. This is a dangerous bit of mystification. [note that this riff goes all the way back to the Pogo comic strip in the 1960s].

      Its more simplistic sloganeering and like most such chestnuts, class analysis is absent. I have written a good deal on the psychological appeal of certain hi-tech fantasies, the seductive aspect of AI, and yet the world is more proletarianized than ever.

      Yes people, in a very general sense, can be seen as self-destructive. It’s one of the most troubling byproducts of the habituation to screens, the loss of literacy and numeracy and the loss, really, of an ability to think critically. But this cultic hysteria is driven by the increasing precarity and desperation in contemporary life.

      The loss of unions plays a part, the absence of a real left party, a radical Marxist party. For all the terrific work activist groups do (Prison abolishment groups, criminal justice reform, and stuff like the Innocence Project) there remains a vacuum in terms of electoral politics. Perhaps that is just going to be the way this goes.

      Maybe the entire electoral apparatus is dead. And maybe that is a good thing.

      There is a quality of suffocating sameness and emptiness that permeates daily life. People don’t look at each other on the street, they look at their phones. One is walking, all the time, among the pod people. America’s mental health is in a dire state. The U.S. and really this is increasingly true in Europe, too, but not nearly to the same extent, is an excruciatingly lonely country. People have lost the ability to make, and more, to sustain friendships. And how the role of social media plays into that is an open question. Or media in general.

      So while yes, the marketing of technology serves to manufacture an appeal, on one level there are troubling numbers of people who seem, all by themselves, to *want*, to desire, ravishment by our robot overlords. Android sex is a thing, and its growing.

      And it’s not just men who want “pleasure model” androids (ok, for now they have to settle for dolls), but many want to not just fuck androids – but to get fucked *by* androids.

      The engine is capitalism.

      A number of world leaders have contracted Covid. Much as many get the flu. There is something curiously similar in nearly everyone of these cases. Boris Johnson, Bolsanaro, the fascist interim President of post-coup Bolivia Jeanine Anez, Mikhail Mishustin of Russia, French finance minister Bruno Le Maire, and India’s Amit Shah (the #2 strongman behind Modi), and also in India, Pranab Mukherjee, former President, who subsequently died (age 84) from the virus (no, actually he died from a blood clot on his brain).

      I only mention this because I experience an unsettling vertigo when trying to parse all this and make it into something comprehensible. The way Covid tests work one might well think everyone on the planet has the virus.

      Already there has been significant psychological harm done to children. The clear lesson is to fear the other. That humans are contagious and potentially lethal. Intimacy is officially discouraged.

      I cannot imagine that message were I fourteen or sixteen. Growing up in the sixties the idea was to promote intimacy, feelings, and to exactly *not* fear emotional openness. The English speaking west has gone from Paul Goodman to Theresa Tam.

      The resurgent Puritanism is not restricted to odd ducks like Tam. Even bourgeois pundits are noticing. This is Zoe Williams in The Guardian:

      There remains, in public life, a rich seam of puritanism that you notice only when times are so bleak that you could really do without it. A sense that frivolity is immoral, even if it is 95% of your economy; a feeling that they had it coming, all those people dedicating their lives to the generation of fun. Puritans tend not to announce their disapproval except in the most roundabout ways, so you can rarely pin it on them. But standing on the precipice of a year that ends without dancing, bears, dancing bears, playhouses, ale houses, music or Christmas, all I can think of is how happy Oliver Cromwell would have been. It is like all his cancelled Christmases come at once. He would be dancing (not dancing) in his grave.”

      This is a lament from the privileged class, but perhaps that’s actually a good sign.

      The ruling class don’t wear masks or have travel restrictions imposed on them.

      There is no longer even a pretense. The rich are entitled to special treatment. The rich deserve a clean depopulated world where they can cavort on the green, frolic in elysian fields by murmuring brooks, and to not be troubled by darkies and riff-raff. Remember it was a mere hundred years ago that Belgium brought Congolese from their African home, to be paraded in human zoos. Those they hadn’t already murdered.

      Covid is the final act in the transference of wealth to the top 1%. And culture is being destroyed along with everything else. Cinemas are closing, permanently, theatres, too, permanently, and museums. Galleries and other art spaces are shuttered, likely to never reopen. Something like 30 million jobs have been lost. There is an acute desperation across America.

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      Who survives? Amazon, Netflix, Google, Comcast, Facebook, et al. Those who control the screens control the world. It is a new morning in hell.

    • These Are The US Cities Where Workers Make The Most Relative To Their Cost-Of-Living
      These Are The US Cities Where Workers Make The Most Relative To Their Cost-Of-Living

      Tyler Durden

      Sun, 10/11/2020 – 21:30

      With Microsoft becoming the latest major tech company to signal to employees that they can apply to make “WFH” a permanent element of their schedule, millions of Americans are contemplating moving away from densely packed cities – indeed, many have already made the move. According to data released Friday, the apartment vacancy rate in Manhattan has hit 6%, more than double the average at this time of year.

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      According to Pew Research, 22% of American adults have relocated during the pandemic, or know somebody who did. It’s a sudden reversal to a yearslong trend of Americans largely staying put.

      Anybody who’s thinking about “pulling a geographic” might want to take a look at a report published this week by Smartest Dollar, which digs into the cost of living in different cities across the US. The general theme should be familiar by now: workers from expensive cities like NYC could potentially maximize their earning power by moving to a sleepy Midwestern city where the cost of living can be significantly lower.

      Here’s more from Smartest Dollar:

      The COVID-19 pandemic has sparked a surge in geographic mobility. According to Pew Research Center, 22 percent of adults in the U.S. have relocated during the pandemic or know someone who did. Interestingly, this reverses a longstanding trend in which Americans were staying put.

      Data from the U.S. Census Bureau shows that prior to COVID-19, Americans were moving a lot less. In 1981, 3.4 percent of Americans moved to a different county within the same state while only 2.8 percent moved to a different state entirely. By 2019, those percentages dropped to 2.1 percent and 1.5 percent, respectively. The share of Americans moving across county lines has remained at a relatively flat, low level since 2010.

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      As people think about where to move during COVID-19 and beyond, job prospects and earning potential will be top of mind. Median earnings for full-time workers in the U.S. was $50,078 in 2019, a 20.6 percent increase since 2010 in nominal dollars. However, the relative cost of living in a given area impacts purchasing power and should be an important factor when weighing employment opportunities. There is significant regional variation in cost-of-living adjusted earnings across the U.S., with residents in the Northeast and Midwest generally faring better than those in the South or West. For example, median adjusted earnings range from a low of $41,063 in Florida to a high of $58,029 in Massachusetts.

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      To find which metropolitan areas offer the greatest purchasing power, researchers at Smartest Dollar calculated cost-of-living adjusted earnings using data for full-time workers from the U.S. Census Bureau and U.S. Bureau of Economic Analysis. To improve relevance, metros were grouped into the following categories based on population: small (100,000–349,999), midsize (350,000–999,999), and large (1,000,000 or more).

      Similar to the statewide trends, the small and midsize metros offering the highest adjusted earnings are concentrated in the Midwest and Northeast. Unlike the state-level trends, the large metros with the best pay are scattered throughout the country, with similar levels of representation in the Northeast, West, and Midwest. Here are the metropolitan areas with the highest cost-of-living adjusted earnings.

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      Meanwhile, here’s a list of large metros with the highest salaries adjusted for the cost of living (which is already notably high in many of these places).

      1. San Jose- Sunnyvale-Santa Clara CA

      2. Hartford-East Hartford-Middletown CT

      3. Washington-Arlington-Alexandria DC-VA-MD-WV

      4. Boston-Cambridge-Newton MA-NH

      5. Seattle-Tacoma-Bellevue WA

      6. Minneapolis-St. Paul-Bloomington MN-WI

      7. San Francisco-Oakland-Berkeley CA

      8. Baltimore-Columbia-Towson

      9. Cincinnati OH-KY-IN

      10. Raleigh-Cary NC

      11. St. Louis MO-IL

      12. Denver-Aurora-Lakewood

      13. Cleveland-Elyria OH

      14. Pittsburgh

      15. Columbus OH

      Look up your city’s stats here:

      * * *

      Source: Smartest Dollar

    • 7 Predictions: How 2020 Comes To An End
      7 Predictions: How 2020 Comes To An End

      Tyler Durden

      Sun, 10/11/2020 – 21:00

      Authored by Daniel Bobinksi via UncoveredDC.com,

      America is at a crossroads with revolution on our doorstep. On one side are the Patriots; those who seek to preserve, protect, and defend the Constitution. On the other side are Marxist insurrectionists; those who believe that America is evil and the cause of so many problems in world.

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      The Marxist-friendly side is pulling for Joe Biden to be ushered into the White House. They don’t call themselves Marxists, but as the saying goes, if it talks like a duck and walks like a duck, it’s a duck.

      I’ve been writing since January that the Globalists don’t care if there’s bloodshed in America, and in March I wrote that the Left is waging a scorched-earth war against Trump.

      At the risk of sounding like I’m saying, “I told you so,” I told you so.

      If you’ve been reading tea leaves from the news lately, you may have already figured out what’s coming at us in the next few months. If so, the following may simply affirm your observations. But I wanted to put this out there so everyone knows what to expect and therefore won’t be surprised.

      My seven predictions for how 2020 comes to an end:

      Prediction 1: Trump will win the election in a landslide. I know, the media is telling you the polls are tight, but just look around. Trump rallies are packed to the gills while Biden can’t fill the bleachers at a high school football field. Trump supporters hold huge boat parades while we see NONE for Biden. Trump supporters hold freeway caravans around that country that take up all lanes of a freeway, while an attempted caravan for Biden in Las Vegas drew only 30 people. Just like in 2016, pollsters today are making it look like it’s a close race. This is gaslighting – they’re telling you something that runs directly opposite of what your own eyes are telling you, but they’re expecting you to believe what they say.

      Prediction 2: On the evening of November 3, Joe Biden will not concede the election, even though the vote will clearly be for Trump. Hillary Clinton has publicly stated that Joe should not concede, so the seed has been planted in our minds to expect this. And, because we’re expecting it, we won’t be shocked by it.

      Prediction 3: Massive mail voter fraud will create confusion and Marxists (e.g. Democrats) will insist that “every vote counts.” They know Americans want to be fair so Marxists will play on that. They will cry and wail and plead that every vote needs to get counted, so they’ll ask for sympathy for voters who didn’t follow confusing new election rules about how to cast their mail-in ballots. That will be their story, but many votes will be fraudulent. As they’ve demonstrated on America’s streets, Marxists don’t care about following laws; they care about power.

      Prediction 4: Because of massive mail fraud ballots showing up late, election results WILL be delayed. The deceptive Mark Zuckerberg at Facebook and the clearly biased Jack Dorsey at Twitter have already announced they will flag any posts or tweets that claim a victory for Trump. They KNOW Trump will have more than enough votes to win, but as Zuckerberg already told us, we should expect results to take “DAYS OR EVEN WEEKS.” In other words, Facebook and Twitter are well-aware of the planned mail-in voter fraud, and they’re already providing cover for it. The planned vote count confusion will be dragged out as long as possible. The Marxists’ intention is to keep confusion swirling at least until December 14 in hopes that the electoral college won’t be able to identify a winner. Expect ballots to keep showing up out of nowhere.

      Prediction 5: If Marxists cannot keep up the façade until December 14, some states will obfuscate the electoral process by choosing not to follow the rules laid out in the 12th Amendment. In fact, both may happen. Either way, by attempting to throw the electoral college into confusion, Marxists (again, the Democrats) will make a push for the electoral college to be eliminated. Believe me when I say you don’t want this. Students of the Constitution know that if the electoral college is eliminated, the Republic will be gone.

      Prediction 6: Expect Nancy Pelosi to be acting all patriotic and concerned about the Constitution during the chaos, but rest assured, it’s a passive-aggressive act. She is among the Marxist vanguard in both houses of Congress orchestrating the whole mess. You will also see some Marxist-friendly governors making a lot of noise.

      Prediction 7: While Marxists in Congress are messing with the electoral process, Marxists on the streets (Antifa and BLM) will intensify their violence by burning, looting, and murdering even more than what we’ve seen to this point. There’s already a movement that seeks to lay siege to the White House. Not only do the puppet masters want all the street chaos to distract our attention from what’s going on in the electoral process, the street Marxists see this election as their only chance to either grab power or put up with Trump for four more years. The protestors have been trained to instigate violence, and copy-cat wannabes will want to join in. Street Marxists will view these riots as the fight of their lives: it will get intense.

      To perpetuate the riots, puppet masters like George Soros will continue pouring money into organizations that fund them. Also remember that Antifa and BLM have threatened to go into the suburbs. Their purpose for doing so is to trigger the Soccer Moms who wants peace at all costs. Marxists will hope that these suburban moms will apply pressure on their elected representatives to give in to the Marxists so the violence will end. Life on American streets will be unpredictable and dangerous.

      How does it end?

      The Marxists are desperate, so the fighting will be like nothing the country has ever seen before. I predict we’ll see horrific things happening in our cities and on our streets, and traditional media (read: Marxist-friendly media) will be spewing twisted truths and lies about everything listed above. And we can’t forget that social media giants favor the Marxists in this revolution, so they will be squelching debate in whatever ways they can.

      The final months of 2020 will be an emotional roller coaster, but in the end, I predict Trump prevails. It’s not going to be pretty, and many who are now thinking life will return to normal after November 3 will be sadly mistaken. They will be wondering what happened to the country they once knew.

      Whether the Democrats implode or not after all this happens remains to be seen, but it is my prayer that when the dust settles, all the Marxists plotters and schemers be exposed and truth will be recognized as truth. And then … maybe then … Trump can get on with his promise to drain the entire swamp.

    • Is The Next "October Surprise" An Unexpected Moment Of Clarity?
      Is The Next “October Surprise” An Unexpected Moment Of Clarity?

      Tyler Durden

      Sun, 10/11/2020 – 20:30

      Last weekend, in its Sunday Start note, Morgan Stanley raised some eyebrows across Wall Street when it global strategist Andrew Sheets suggested that the 2020 market cycle was actually quite “normal”, with economic data leading risk assets, and that the recovery would continue in a “normal” way, with inflation expectations rising, yield curves steepening further, small caps continuing to outperform and defensive stocks have lagging (even as yields have remained range-bound). This is what Sheets concluded:

      Twists and turns as the US election nears, the uncertainty regarding additional US fiscal stimulus, a rise in global COVID-19 cases and a still-unresolved Brexit saga all create significant uncertainty, and should keep markets volatile and range-bound over the next month. But amid that volatility, we maintain our central tendency – this cycle is more normal than appreciated, and should be treated as such until proven otherwise.’

      Today, in yet another provocative piece this time from Morgan Stanley’s head of US Public Policy, Michael Zezas, the bank makes another contrarian argument, namely that for all the confusion and anticipated turbulence over the upcoming election, traders – whipsawed by months of pandemics, trade conflicts, legislation, and elections – may instead be rewarded with a “brief moment of policy clarity giving investors a reprieve from the chaos of 2020” and offer them “some unexpected, and underpriced clarity.”

      To be sure, Morgan Stanley is not the first to suggest that the market is overly obsessing over the potential vol surge around the election as a result of it getting drawn out into a contested election: two weeks ago, Nomura‘s x-asset strategist Charlie McElligott recommended selling the “kink” in the Nov-Oct VIX spread…

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      … saying the market had priced in more than a fair amount of election risk, and said that “some brave vol traders will try to take advantage as a perceived “generational” opportunity to sell this POST-NOV election “richness” (Dec / Jan)” which “could be a career “maker or breaker,” with the potential to see monster returns if the event were to pass and all that crash is puked back into the ether” although as he also hedges, conversely returns could “be turned to dust into a God-forbid realization of chaos, with civil disorder, dual claims to the throne etc.”

      Well, the Morgan Stanley strategist is even more sanguine than McElligott as the bank only focuses on the bullish scenario, one where clarity over fiscal stimulus – either before or after the election – emerges in the coming days, while at the same time, Zezas also looks at the outcome of the actual Nov 3 election, and contrary to expectations of a long, drawn-out process which culminated with a SCOTUS decision, sees a quick resolution to the election with little “risk that it would take more than a few days beyond election day for investors to reliably know a result.”

      He explains why in The Next ‘October Surprise’: A Moment of Clarity?

      Investors crave precision in quantifying risk. Yet that level of precision is wanting when it comes to sizing up risk from events like pandemics, trade conflicts, legislation, and elections. Like it or not, we see investors being pressed into this style of analytical action as the new normal. Geopolitical trends towards multipolarity, fiscal expansion, and ‘slowbalization’ are not going away and will have lasting ramifications for market strategy.

      But what if a brief moment of policy clarity is about to emerge, giving investors a reprieve from the chaos of 2020? Some emerging information could quickly turn into trends on two key US policy debates. This would give investors some unexpected, and underpriced, clarity.

      • Fiscal stimulus: There appear likely paths to stimulus in the medium term, even if near-term paths dead-end: The market debate on the next US fiscal stimulus has been framed for months in terms of whether or not such action would come in the short term. Last week’s developments effectively answered ‘no’ to that question. Yet, it’s possible that a stimulus delay wouldn’t fully develop into the economic challenge it has the potential to be. Our economists now see evidence that US consumption can carry on for longer without fiscal support, given built-up excess household savings. This is good news as there are many viable political paths towards stimulus over the next three months. We see three out of the four most likely post-election party configurations delivering stimulus by early 2021. The biggest potential stimulus could come in a Democratic sweep, a result that may appear increasingly probable to investors, given a body of polling data that shows Joe Biden with a sizeable and stable lead in sufficient battleground states, and Democrats competitive in key Senate races. In this scenario, in addition to an upsized COVID-19 relief package, we believe that the ‘plausible policy path’ is further fiscal expansion as Democrats enjoy legislative consensus regarding their spending agenda but not regarding sufficient tax increases to fund it.
      • Voters appear to be returning mail-in ballots quickly, limiting the risk that investors must wait beyond ‘election week’ to reliably know results: Voters did not lie in our surveys about their intent to increasingly vote by mail (VBM). State data show VBM requests shattering records. But voters also appear to be returning those ballots much quicker than anticipated. Consider the swing state of North Carolina (NC). VBM requests are already nearly five times their 2016 total. But over 30% of them have already been returned. Of those, over 50% are from registered Democrats. While these numbers don’t put to rest concerns about a delayed result (unreturned VBMs in NC remain nearly 20% of the 2016 vote), this would change if the trend continues. Consider that in NC, VBMs can be counted before election day. Hence, their rapid return could have two key effects: 1) Quickening the pace of the overall count; and 2) Reducing the risk that vote count progression sews uncertainty by initially showing large Republican leads that erode slowly on VBM counting. This would reduce the risk that it would take more than a few days beyond election day for investors to reliably know a result. Exhibit 1 shows a similar trend emerging in other swing states. Hence, the skew now appears away from not reliably knowing the result beyond a few days post-election, and we’re adjusting our scenario probabilities accordingly. Our base case remains ‘Election Week’ (70%), but we’re increasing the chances of ‘Silent Night’ (20%) and reducing for ‘Election Month’ (10%).

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      The conclusion:

      In our view, key markets are not geared for such a moment of policy clarity should it emerge before year-end, presenting opportunities for some proactive and reactive tactics: We detail these dynamics in our most recent collaboration with Morgan Stanley’s cross-asset strategy team. One proactive idea that stands out for its asymmetrical response is being short duration in USD fixed income, the 30-year in particular. Despite its strong move last week, it should still be a bellwether for clearer expectations on deficit expansion and a continued V-shaped recovery in the US. A more reactive idea is in US equities, where a dip-buying opportunity could emerge. For example, if a Democratic sweep outcome in the election becomes known quickly, markets could initially reflect concerns about rising taxes before giving way to the benefits of fiscal expansion and, perhaps more importantly, an economy that remains in the recovery phase of the cycle.

      There is just one problem with Morgan Stanley’s reco to short the 30Y: everyone and their grandmother is already in it, and in fact, one can argue that the entire Morgan Stanley line of thought is not contrarian at all, with markets now appearing to fully price in a reflation trade.

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      In fact, for those betting on outcomes, the best upside/downside risk-adjusted trade is to fade the reflation trade which in the past 3 weeks has allowed Russell stocks to strongly outperform their Nasdaq-based deflationary proxies. In further fact, for those cynics among us, one could almost argue that Morgan Stanley is merely hoping to take the other side of the trade that it is pitching to its clients. The next few days of trading should reveal the answer if the unprecedented 30Y short and heavy positioning into further curve steepening can continue, or will punish the momentum-chasing macrotourists.

    • As War Danger Mounts In The Arctic, Peace Hinges On Revival Of The Wallace Doctrine
      As War Danger Mounts In The Arctic, Peace Hinges On Revival Of The Wallace Doctrine

      Tyler Durden

      Sun, 10/11/2020 – 20:00

      Authored by Matthew Ehret via The Strategic Culture Foundation,

      According to the Department of Defense’s dismally short sighted vision for the Arctic, U.S. strategic interests were best maintained not by cooperation with Arctic partners, by rather by belligerent sabre rattling under the guise of “competition” with nations who have continuously professed a desire to work with the west as allies.

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      In recent weeks, this belligerence has taken the form of a new forward posture of 150 advanced U.S. fighter jets to be housed at the Eielson Airforce Base in Alaska including a mix of F22 Raptors and F35 Lighting II jets only 600 miles away from the Russia border. Each fighter plane carries the ability to launch strikes onto Russia after a brief flight across the 100 mile Bering Strait gap. Considering the entire American air force only has 187 F22s and 250 F35s, the proportions of this absurd build up can best be appreciated.

      In the most recent DOD Arctic Strategy Report which has shaped this suicidal battle plan, Russia and China are defined as nothing but existential threats to the world order which must he stopped at all costs with the report’s authors stating:

       In different ways, Russia and China are challenging the rules-based order in the Arctic. U.S. interests include limiting the ability of China and Russia to leverage the region as a corridor for competition that advances their strategic objectives through malign or coercive behavior.”

      Describing this aggressive display that folds into the renewed threats of attack faced by dangerous NATO maneuvers across Europe in recent months, Russian Major General Vladimir Popov told Sputnik News:

      Alaska is remote from the U.S. mainland, but is an outpost in relation to Russia—we are separated only by a strait, and the border is literally within the line of sight. This is a strategic region for the U.S. Adding 150 more fighters would at least double the combat potential of the existing forces there.”

      Continuity of Government and NORAD

      What makes this dire situation ever more precarious is the fact that President Trump has found himself stuck in a COVID-19 quarantine.

      What should be a mere hiccup in governmental procedures is quickly being turned into something much greater as renewed calls for enacting Continuity of Government procedures secretively written into law this past March 2020 arising by various leading figures of the deep state such as House Speaker Nancy Pelosi. When MSNBC asked Pelosi (now second in line to take the mantle of presidency) if anyone reached out to her from the White House regarding Continuity of Government, Pelosi said: “No, they haven’t. But that is an ongoing, not with the White House but with the military, quite frankly, in terms of the — some officials in the government.”

      That these calls are occurring amidst a heightened clamor for military coup to unseat the President, the general threat of civil war and the looming danger of economic meltdown, statements like those uttered by Pelosi to CNN and MSNBC this week should not be taken lightly.

      In the updated March 2020 Continuity of Government protocols, General Terrance O’Shaunessy (head of both NORAD and NORTHCOM) would take the “temporary” reins of the presidency under crisis conditions of ungovernability which are not too difficult to imagine amidst the storms currently sweeping America. Military staff who would take up a parallel chain of command continue to be stationed 650 meters below Cheyenne Mountain in Colorado where they have been deployed since March 2020 following Mark Espers’ orders to NORTHCOM to “prepare to deploy”.

      O’Shawnessy has repeatedly echoed the views of the Washington/NATO establishment that the greatest threats to the world stem from Russia and China directly referencing their supposedly nefarious intentions in the Arctic.

      The Polar Silk Road: A Healthier Paradigm for the Arctic

      Rather than bring the forces of war to the Arctic, Russia and China have together been demonstrating a far more efficient and moral approach which certain patriotic forces within North America tend to be in alignment with, including the current President.

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      Since January 2018, the Arctic has increasingly become dominated by the positive extension of the New Silk Road northward in the form of the maritime and land based “Polar Silk Road” which has united brilliantly with President Putin’s Far East development program. This program aims to increase arctic shipping five fold by 2024 and begin a bold program of infrastructure, rail, road, pipeline, mining and port building in order to begin accessing the vital raw materials desperately needed for the coming centuries of multipolar development.

      On September 26, President Trump working alongside political allies in Alaska, Alberta and the private sector alike streamlined a project which taps into this spirit of genuine economic cooperation and long term thinking unseen in decades in the form of the Alaska-Canada Rail connection. Looking at the business models guiding this emerging project, it is important to note that the destructive thinking of globalization and zero sum logic are not to be found at all as the entire program is vectored on tying North America economic interests into China’s Belt and Road and growing Asian markets.

      The Wallace Doctrine for the Arctic Must Be Revived

      As I wrote in my recent report Trump’s A Revival of the Wallace Doctrine for the Post-War World, the last serious pro-development strategy to arise from a leading American politician took the form of President Franklin Roosevelt’s ardent anti-imperial Vice President Henry Wallace, who spent years with his Russian counterparts during WWII arranging the conditions of mutual development of both nations  during the post-War age with a strong focus on the long awaited Bering Strait Rail connection and obvious Alaska-Canada transport corridors. In his Two Peoples One Friendship, Wallace described his discussions with Foreign Minister Molotov in 1942 saying:

      “Of all nations, Russia has the most powerful combination of a rapidly increasing population, great natural resources and immediate expansion in technological skills. Siberia and China will furnish the greatest frontier of tomorrow… When Molotov [Russia’s Foreign Minister] was in Washington in the spring of 1942 I spoke to him about the combined highway and airway which I hope someday will link Chicago and Moscow via Canada, Alaska and Siberia. Molotov, after observing that no one nation could do this job by itself, said that he and I would live to see the day of its accomplishment. It would mean much to the peace of the future if there could be some tangible link of this sort between the pioneer spirit of our own West and the frontier spirit of the Russian East.”

      The Molotov/Wallace vision wasn’t something entirely new.

      Earlier programs for building the Bering Strait rail connection were advanced by Russian Prime Minister Sergei Witte and Czar Nicholas II who in 1906 sponsored teams of American engineers to conduct feasibility studies of the project, then estimated to costs $200 million.

      On the American side of the project, Lincoln’s trusted bodyguard William Gilpin (a man who was known as a leading spirit of America’s own Trans Continental Railway) and later Governor of Colorado promoted the work throughout his life saying of the Alaska Canada rail connection:

      “It is sufficiently apparent that the building of a railroad by way of Alaska, Bering Strait and northeastern Siberia, connecting with the Canadian Pacific in British Columbia and in Siberia with the Russian line now being pushed forward to Vladivostok, is by no means an unpracticable undertaking”.

      Gilpin’s global program was outlined thoroughly in his 1890 book the Cosmopolitan Railway.

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      Exhibiting the stark raving fear of the renewal of this latent spirit of U.S.-Russian friendship in the build up to the November elections, Thomas Wright (senior Fellow at the Brookings Institute) wrote a panicky op ed in the Atlantic on September 30 called “What a Second Trump Term Would Mean for the World”. In this article, Wright echoes the broader fears of the deep state of a revival of the Henry Wallace doctrine which the author laments would have been just terrible had it not fortunately been sabotaged by the “great” figure of Harry Truman in January 1945. Wright says:

      “Looking back on U.S. diplomatic history, one of the great counterfactuals is what would have happened if Franklin D. Roosevelt had not replaced his vice president Henry Wallace with Harry Truman in 1944. Wallace was sympathetic to the Soviet Union and became an ardent opponent of the Cold War. If he had become president when FDR died, in April 1945, the next half century could have gone very differently—likely no NATO, no Marshall Plan, no alliance with Japan, no overseas troop presence, and no European Union… The U.S. is now teetering on another historically important moment. With Trump, we would not only be deprived of our Truman. We would be saddled with our Wallace—a leader whose instincts and actions are diametrically opposed to what the moment requires. With few remaining constraints and a vulnerable world, a re-elected Trump could set the trajectory of world affairs for decades to come.”

      It should be clear to all that the renewal of the Wallace-Gilpin spirit of development into North America’s Arctic is not only good business but also serves as a vital precondition to re-establishing a world order founded upon trust, win-win cooperation, and non-zero sum thinking. While it is fairly clear that Trump’s political instincts are vectored in this direction (giving rise to such frightful diatribes by emissaries of the Cold War at Brookings and the CFR), it still remains to be seen if sufficient political influence can be exerted to rein in the swamp before a hot war and military coup are unleashed.

    • "Player Protests/Politics" Cited As Driving NBA Finals Ratings Collapse
      “Player Protests/Politics” Cited As Driving NBA Finals Ratings Collapse

      Tyler Durden

      Sun, 10/11/2020 – 19:30

      Ratings for the NBA Finals continue to see a historic collapse. Game 3 of the finals averaged just a 3.1 rating and 5.94 million viewers, making it “the least watched and lowest rated NBA Finals game on record,” according to Yahoo Sports.

      It is the latest chapter in an NBA Finals that has continued to set the bar lower and lower for itself in terms of ratings:

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      In a poll on Yahoo Sports with 22,266 responses, people were asked why they thought the NBA’s ratings had dropped off. Player protests/politics was the overwhelming favorite, at 61%, as to why people are turning away from the NBA.

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      Although we may not see those in the industry brave enough to admit that the politics are causing a problem just yet:

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      Recall, just days ago we noted that Game 2 also saw a ratings collapse of 68% to all time lows. 

      It appears that viewers are no longer interested in the political and social justice messages of the NBA but rather were tuning in for (believe it or not) actual basketball. As the balance of the league has tipped from less sport to more activism, viewers are tuning out.

      Game 2 of the NBA Finals saw a major collapse in viewers, with just 4.5 million people tuning in. This is down 68% from last year’s game two, we noted. In fact, the ratings made Game 2 the least watched NBA Finals game on record, dropping below the 7.41 Game 1, which was the lowest viewed finals opener in history. 

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      There really doesn’t seem to be much of a spin that the NBA can put on the terrible ratings, other than the league has simply lost the interest of many who would have once tuned in. In fact, one of the league’s most “outspoken” voices on oppression and racism, LeBron James, should have been the feature draw for this year’s finals. 

      Instead, it appears he could be exactly what is turning viewers away. 

      We have also been documenting the recent ratings collapse that the NFL has suffered in the midst of turning its league into a political movement over the last few months.

      In early October the NFL reached out to players, telling them “not to worry” about the decline in ratings. Also in denial, they blamed the Presidential race for the drop in ratings, telling players: “The 2020 presidential election and other national news events are driving substantial consumption of cable news, taking meaningful share of audience from all other programming. Historically, NFL viewership has declined in each of the past six presidential elections.”

    • China's Leninist Climate Pledge
      China’s Leninist Climate Pledge

      Tyler Durden

      Sun, 10/11/2020 – 19:00

      Authored by Rupert Darwall via RealClearPolitics.com,

      “In whichever way others hit us, we will hit, we will give tit for tat, and defeat them by surprise moves,” China’s leader Xi Jinping said in August 2013 at a conference on national propaganda and ideology, a year after becoming general secretary of the Chinese Communist Party.

      “We cannot hold up the larger strategic picture because of tactical rigidity. This means that ‘Even if we are right, we will not use this at times; even if we are wrong, we must go ahead sometimes.’”

      Xi’s remarks would have come as no surprise to Ronald Reagan, who famously said of the Soviet leadership that the only morality it recognized was “what will further their cause, meaning they reserve unto themselves the right to commit any crime, to lie, to cheat.”

      Writing in the London Times last month, Edward Lucas observed that while Communism itself is dead, those same Leninist doctrines of political warfare to gain and exercise power, what became known as “active measures,” are still alive in the Chinese Communist Party.

      Last week, Lord Chris Patten, the last British governor of Hong Kong, reminded us how badly wrong China watchers had gotten their assessment of the Beijing leadership. The Chinese Communists might be thuggish dictators, these experts said, but they were men of their word and could be trusted to do what they promised.

      Patten busts that myth, citing four chilling examples of the Chinese Communist Party’s duplicity:

      1. its denial of the existence of some 380 internment camps to imprison over 1 million Muslim Uighurs;

      2. its breaking of World Health Organization rules by not notifying the body within 24 hours of the COVID-19 pandemic;

      3. Xi’s breaking his word to President Obama that he would refrain from militarizing the Spratly Islands in the South China Sea;

      4. and Xi’s tearing up the promise China made to Hong Kong and the international community that the city would enjoy its liberties until 2047.

      “The last thing the world should do is trust the Communist Party of China,” Patten concludes.

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      Yet that is exactly what the international community wants to do when it comes to climate change, by taking at face value Xi’s U.N. address, in which he said that China would aim to achieve “carbon neutrality” before 2060. It’s not hard to see Xi’s motives. Five years on from the Paris climate accord, it’s time for the second round of five-year climate pledges. Western leaders – with the exception of Donald Trump – are competing with one another to make climate promises that will effectively sunset much of their economies. Xi wants to help them. As Lucas points out, in a 1920 tract, Lenin accused left-wing Communists of suffering from an infantile disorder for focusing too heavily on ideology rather than agitating to pull apart the seams of the capitalist world.

      Lenin’s successors play the environment card because they know it works. In 1975, the Soviet Union used the environment as a strategic propaganda tool when Leonid Brezhnev claimed the environment as something on which East and West shared a common purpose. It was a transparent attempt to deflect Western pressure on the Soviet Union’s brutal human rights record.

      The Kremlin’s most daring use of environmental “active measures” was the nuclear winter scare of the early 1980s. In a bid to split the Atlantic Alliance and win the Cold War, the Soviet Union deployed medium-range nuclear missiles. The West responded with a nuclear arms build-up of its own. In June 1982, the Swedish Academy of Sciences published a paper predicting a nuclear winter across the northern hemisphere in the aftermath of a nuclear exchange.

      The paper was picked up by the Rockefeller Family Fund and amplified by Carl Sagan and many American scientists. An October 1982 nuclear-winter conference in Washington called for a nuclear arms freeze. Conference attendees represented a roll call of progressive groups such as the Environmental Defense Fund, Planned Parenthood, Common Cause, and the Natural Resources Defense Council, all of which would later stand at the forefront of the climate wars.

      It was obvious, or should have been obvious, which side would benefit from an arms freeze. The conference even had a TV satellite link-up with the Kremlin, funded by Tides, another progressive group. Wittingly or not, the scientists, foundations, and NGOs were acting as mouthpieces of the Kremlin in its aim of defeating the West in the Cold War. In fact, the nuclear winter scare had been concocted by the KGB to cause terror in the West and promote the nuclear freeze. If the scientists, NGOs, and foundations behind the nuclear winter scare had succeeded in halting Ronald Reagan’s arms build-up, the West could not have won the Cold War without a shot being fired.

      Western politicians who denounce the Chinese Communist Party for its genocide of the Uighurs and its tearing up of international commitments on Hong Kong want us to believe that China is somehow an angel when it comes to climate change. The reason for this suspension of disbelief is simple. If the word of the Chinese Communist Party is not believed, the rationale for climate action evaporates.

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      Lenin’s heirs in Beijing have a far better understanding of Western leaders than Western leaders have of them. China’s expansionism will continue unchecked until the West has leaders with the moral clarity that it was blessed with in the 1980s, who called out the Soviet empire for what it was. For the time being, history is moving China’s way.

    • California COVID-19 Outbreak Accelerates; Dr. Fauci Says Trump Ad Took Comments Out Of Context: Live Updates
      California COVID-19 Outbreak Accelerates; Dr. Fauci Says Trump Ad Took Comments Out Of Context: Live Updates

      Tyler Durden

      Sun, 10/11/2020 – 18:49

      Summary:

      • California new cases climb, Texas cases slow
      • Dr. Fauci says Trump took him out of context
      • France sees outbreak slow
      • Ontario cases decline
      • Italy reported 5k plus cases again on Sunday
      • NY reports another 1,143 cases
      • California researchers build 5 minute test
      • US adds 55k new cases Saturday
      • India total cases top 7 million
      • Monday’s Patriots-Broncos game cancelled
      • New research shows COVID survives on surfaces longer in colder temps

      * * *

      Update (1835ET): The US added 50k+ new cases for a fourth straight day on Saturday, and it looks like the US is on track to top that number for a 5th day on Sunday.

      In the US, California reported 3,803 new cases, a 0.5% increase from the previous day, to 846,579, a number that was higher than the previous week’s daily average. Deaths increased by 64 to 16,564. Texas meanwhile reported 31 deaths bringing the a total to 16,557. The number of new cases increased by 2,262, the lowest number in six days, to 792,478.

      Anthony Fauci said Sunday that a new ad released by the Trump campaign takes him out of context, where a quote from a press briefing earlier this year says “I can’t imagine anybody doing more”.

      “In my nearly five decades of public service, I have never publicly endorsed any political candidate,” Dr. Fauci told CNN.

      In other news, Italy reported 5,456 new cases on Sunday, its second highest tally since late March, despite falling numbers of people being tested per day. The positivity rate, which has almost doubled in the last 10 days, jumped to 5.2%.

      More local authorities in different parts of Spain are tightening restrictions: Officials in Navarra said they plan to reduce capacity to 30% in restaurants and bars, which must now close by 2200 local time, and limit social gatherings to no more than six people, according to El Mundo. Though unlike in Madrid, the Navarra government said it won’t forbid people from leaving the region.

      France reported just 16,101 new cases Sunday after reporting a staggering 26k+ on Saturday. The number was the lowest in five days.

      Ontario’s new cases declined to 649 cases Saturday from 809 on Friday and a record 939 registered a day earlier, according to the public health agency.

      NY Gov Andrew Cuomo said Sunday the state is doing “very well” overall; it has a 0.84% positive test rate when excluding the hot spots. The rate in the state’s hot spots where COVID-19 is elevated is 5.7%, on average, he said during a phone briefing with reporters.

      * * *

      Update (1520ET): NY has just reported another 1,143 new cases, bringing the statewide total to 474,286.

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      Here’s a map and chart showcasing the recent acceleration.

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      In other news, the Washington Post on Sunday published a lengthy report documenting the lives of college students who got caught up in the unprecedented money grab for tuition dollars that led many colleges to launch, then abruptly cancel, in-person classes. At times, campuses resembled petri dishes, and students described precarious seeming lockdown and quarantine situations,

      * * *

      Nobel Prize winner Dr. Jennifer Doudna and a team of researchers in California have developed a rapid COVID-19 test that can detect the virus in just five minutes using gene-editing technology, SCMP reports.

      The innovation, which must still be peer reviewed, could help lower the average turnaround time for COVID-19 tests, which in the US is currently 4.1 days, making it difficult for officials to get a real-time picture of how the virus is spreading.

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      The news comes as the US reported nearly 55,000 new positive COVID-19 cases on Saturday, down slightly from Friday’s number.

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      The US also reported 618 deaths, bringing its total to 214,379.

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      Amazingly, the test can detect the presence of the virus in a sample using a smartphone camera: The researchers have manufactured a portable device, outfitted with low-cost laser illumination and collection optics. Not only can the technology deliver a result within minutes, instead of hours, but it avoids bulky lab technology. In developing countries, a test like this could be a god-send, making a huge difference in the responsiveness of public health officials as they direct a community’s efforts to contain the virus.

      “The choice of a mobile phone as the basis for our detection device was motivated by the high sensitivity of current mobile phone cameras, the simplicity of integrating a mobile phone for detection, their robustness and cost-effectiveness, and the fact that they are widely available today,” the researchers said.

      What’s more: unlike every other rapid test that’s been produced so far, including the Abbott Labs rapid test being used at the White House, the test developed by Doudna and her team is sensitive enough to quantify the amount of viral matter in a sample.

      “None of the current rapid testing options provide quantitative results, which could help evaluate an individual’s level of infection and progression of disease,” the paper said.

      Here’s some other coronavirus news from Sunday morning and overnight:

      The NFL has indefinitely postponed the Denver-New England game originally scheduled for Sunday after another positive coronavirus test with the Patriots. That game had already been moved to Monday night, before the latest positive test involving a Patriots player was confirmed. The Patriots announced that they had losed their practice facility again after the latest positive test, while the Tennessee Titans have also closed their facility as of Sunday morning after yet another staff member tested positive. The decision also endangers the Titans’ planned game against Buffalo for Tuesday (Source: AP).

      India’s confirmed COVID-19 cases topped 7 million on Sunday when the health ministry reported 74,383 new infections in the prior 24 hours to Sunday, as a spike in southern states offset a drop in western regions. Meanwhile, deaths from COVID-19 rose by just 918 in the last 24 hours to 108,334, the ministry said. India added a million cases in just 13 days, according to a Reuters tally, and it has the second-highest number of infections in the world behind only the US, which had 7,720,591 cases as of Sunday morning. The southern state of Kerala – a state that had been widely praised for its early virus-suppression efforts – contributed 11,755 of Sunday’s cases, the highest tally in the country (Source: Nikkei).

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      Maybe President Trump was right? New research shows that COVID-19 survival declined to less than a day at 40 degrees Celsius on some surfaces, according to the study, published Monday in Virology Journal. The findings add to evidence that the virus survives more easily in colder weather, adding to fears about a difficult-to-control wintertime outbreak (Source: Virology Journal).

    • The US Economy Is "Booming", One Bank Finds As It Warns Of What Comes Next
      The US Economy Is “Booming”, One Bank Finds As It Warns Of What Comes Next

      Tyler Durden

      Sun, 10/11/2020 – 18:30

      According to the latest data from the Bank of America “machine-learning based US business cycle indicators through August
      2020″, both the full-sample indicator, which uses data from November 1962 onwards, and the short-sample indicator, which starts in January 1985, remained in the strongest “boom” regime for the third consecutive month.

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      According to BofA global economist Aditya Bhave, the bank’s indicators reflect the stronger-than-expected US recovery:

      Fiscal stimulus has supported consumer spending, particularly on goods. In turn, inventories have stabilized. Housing has benefited from 150bp of Fed cuts and pandemic-induced moves from cities to suburbs. Perhaps most importantly, the June/July surge in virus cases did not significantly derail the recovery.

      As Bhave further explains, moderate targeted restrictions across the US instead of shotgun shutdowns, which even the WHO admits were a mistake to the great embarrassment and humiliation of “scientists” everywhere – or what the bank calls “learned immunity” – proved sufficient to bend the cases curve. And in part, people and policymakers have become tolerant of case counts that would have led to broad lockdowns in the spring. Incidentally, this is a point which Goldman Sachs made last week, when the bank found that the pandemic recession was actually not that bad.

      That said, a day of reckoning is coming and as BofA admits, “once the quick gains from reopening have been exhausted, the recovery will inevitably slow”:

      Growth was already slowing in August, with the first principal component (i.e., the common trend) of our short-sample dataset dropping slightly from its all-time high in July (Chart 2). But it remains elevated, and as a result the economy will have to dig itself out of a smaller hole when reopening has run its course.

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      Furthermore, as we cautioned two weeks ago  and as BofA agrees, the bad news is that risks are accumulating to the downside.

      Consumers are facing an income cliff as another round of fiscal stimulus now looks very unlikely before the elections. Personal income fell by 2.7% in August, and additional declines are likely as the Lost Wage Assistance Program’s supplemental  unemployment insurance benefits have expired in some states and are due to expire soon in others. Spending actually increased in August, but the divergence from income is not sustainable.

      Naturally, the other key concern is a major surge in the virus in the fall or winter that prompts much stricter, economically costly restrictions. In this regard the US’ “tolerance” for elevated case counts is a worry because a higher baseline level of cases increases the risks of a large outbreak. The outcome here would be political: if Trump wins on Nov 3, we expect Democratic governors to promptly shutdown their states in hopes of obliterating any hope for a recovery. Alternatively, under a Biden administration, expect the media to completely forget all about the covid pandemic within hours of Trump conceding, and to declare the coronavirus crisis over just days after the election.

      In conclusion, BofA has raised our 3Q growth forecast to 33% Q/Q saar, which would leave GDP about 3.5% below its 4Q 2019 level: “so the good news is that the base case for the economy has improved significantly” while “the speed of the recovery is offsetting some of the pain from the depth of the downturn” even as a much more difficult phase in the cycle is about to be unleashed. 

    • Our Social Dilemma
      Our Social Dilemma

      Tyler Durden

      Sun, 10/11/2020 – 18:00

      Authored by Bill Hansmann via AmericanThinker.com,

      I watched an extremely troubling movie the other night on the recommendation of my friend Rich.  It was on Netflix but is also available on YouTube and is called The Social Dilemma.

      We wonder why partisan rancor and political division are at an unprecedented level in our country.  This film suggests a likely answer.

      We spend a lot of time on social platforms like Facebook, Twitter, Instagram, and others, but not nearly as much time as they spend on us.  It seems that these platforms are populated and are indeed driven by algorithms that are individually calibrated to give each user what the platform decides that person wants to see, demonstrated by his pushing the “LIKE” buttons.  Liberals get items with a liberal slant.  Conservatives receive stories and items that match their previous likes.  Those individuals who exhibit a liking of conspiracies get more of the same, as well as ads designed to sell black helicopters.

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      In other words, every time we “LIKE” an item on Facebook, our individual settings are fine-tuned.  Our news feeds, as well as our comments, are monitored and used to even more precisely shape what we see on our screens.  No two individuals get the same variety of items on their Facebook pages or on any other platform.

      More and more when considering the opinions of people I know, I ask myself, How can they think that way?  How can they believe that?  They are, in fact, being programmed to feel that way by their interactions with their social media.  And unfortunately, I am receiving the same treatment, with different modalities resulting in a different mindset.

      Hitler’s propaganda minister, Joseph Goebbels, taught us that if you tell a lie enough times, it will be accepted as the truth.  It is obviously also true that different spins on facts and stories can be individually tailored to each individual’s demonstrated tastes.  Paul Simon penned the lyric “A man hears what he wants to hear and disregards the rest.”  We watch and listen to news feeds that tell us what we want to hear.  We never tune in to the others.

      I’m not suggesting that Facebook, et al. possess Goebbels’s evil intent.  I do suggest that they, in their driven purpose of monetizing our likes and dislikes, have inadvertently helped to drive a wedge in our population that quite possibly could lead to civil war.

      I recall a social experiment from a few years back.  In one, people looked at a picture of a woman in a dress.  Half the people looking at the picture saw a blue dress, and half saw silver.

      Two individuals standing side by side and seeing the opposite of each other in this experiment often questioned the sanity or truthfulness of the other.  In this instance, there was nothing designed to cause the differing results.  It would seem that in some ways, we are hardwired to interpret certain things differently.  But when you add the tactic of designing individual inputs to reinforce a belief system in the way the social platform algorithms perform, the often seen results are ironclad sets of conflicting beliefs that become woven into our population.  It is undeniably dividing our house, and we know what Lincoln told us about that.

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      What is the answer to these troubling circumstances?  I wish I knew.  But I find it quite telling that many of the executives of the large social platforms stated in the movie that they did not allow their children any time on the very platforms that they are selling to the rest of us.  That is certainly food for thought.

    • Rich Americans Scramble To Change Estate Plans To Avoid Biden Tax Hikes
      Rich Americans Scramble To Change Estate Plans To Avoid Biden Tax Hikes

      Tyler Durden

      Sun, 10/11/2020 – 17:30

      Wealthy Americans are flocking to their estate planning attorneys out of fear that Joe Biden will win the election and raise taxes, according to Reuters.

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      Of most concern to the affluent would be a “Blue Wave,” in which Democrats win both the White House, control of the Senate and hold the House – which could mean that an exemption allowing individuals to leave up to $11.58 million tax-free to heirs would be cut before it’s set to expire in 2025.

      Democrats want to raise estate taxes to the “historical norm,” according to the party’s platform. That could mean slashing the exemption to $5.49 million, the figure in place before Republican President Donald Trump signed a sweeping tax bill that included benefits for corporations and wealthy Americans in 2017, advisers said.

      It is unclear how the election will go or what, if any, tax reform will pass. But as Biden has climbed in the polls, rich people are rushing to set up trusts and revise existing ones before year-end to avoid 2021 tax consequences, advisers said. –Reuters

      “The $11.58 million question is, ‘What is going to happen to the gift and estate tax exclusion?’” according to Toni Ann Kruse, a NY estate planning attorney who serves ultra-high net worth clients. “We don’t know who will win the election or control the House or Senate – and all of those factors will play into what could happen.”

      According to Biden’s campaign website, he would “return the estate tax to 2009 levels” in order to fund paid family and medical leave. He would also raise taxes on long-term capital gains, while those making above $1 million per year would pay a 39.6% income tax on profit, vs. the current tiered approach which maxes out at 20% for those making $441,450 or more.

      “Joe Biden is running to rebuild the backbone of this nation – the American middle class – by ensuring that our economy rewards work and not just wealth,” said campaign spokesman Andrew Bates.

      According to the report, estate planning attorneys began seeing an uptick in client activity when Biden pulled ahead of Trump in the polls, with several firms reporting an overwhelming volume of requests.

      “We are flooded with requests for gift and estate tax appraisals right now,” said Jonathan Miller, CEO at New York-based real estate appraisal firm, Miller Samuel, Inc.

      New York estate and tax planning lawyer Philip Michaels has added around 15 high net worth clients during the last several months who are revising estate plans.

      Rockefeller Capital Management, a family office in New York, is holding virtual events for customers while working with legal and tax advisers to sort through nuances of possible legislation, said Joe Roberts, Senior Wealth Strategist. –Reuters

      “It’s a lot of money to give away,” said Indianapolis estate planning attorney, John Olivieri. “People are struggling with, ‘Do I really want to give this away?’”

    • Michigan Officials Warn Of Another "Scary" Virus That People Should Worry About
      Michigan Officials Warn Of Another “Scary” Virus That People Should Worry About

      Tyler Durden

      Sun, 10/11/2020 – 17:00

      Authored by Brandon Turbeville via The Organic Prepper blog,

      While Michiganders focus on the COVID-19 issue as well as attempting to get their state’s economy back on track, Michigan public health officials are now warning of another potential breakout of a new virus, Eastern Equine Encephalitis (EEE).

      EEE is spread by mosquitoes and MI officials claim they are doing everything they can to stop the spread as COVID fatigue sets in with citizens across the country.

      One of the methods officials have devised is strikingly similar to what they are suggesting for COVID – i.e. urging residents to stay indoors after dark and protect themselves against mosquitoes when they are out. All this comes after a resident in Barry County was suspected of contracting EEE.

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      The Michigan Department of Health and Human Services announced the case last week.

      “This suspected EEE case in a Michigan resident shows this is an ongoing threat to the health and safety of Michiganders and calls for continued actions to prevent exposure, including aerial treatment,” Dr. Joneigh Khaldun, chief medical executive and chief deputy for health at MDHHS, said in a statement. “MDHHS continues to encourage local officials in the affected counties to consider postponing, rescheduling or cancelling outdoor activities occurring at or after dusk, particularly those involving children to reduce the potential for people to be bitten by mosquitoes.”

      22 horses located across ten counties have been confirmed to have EEE, a number that is allegedly twice that of the previous year.

      The state is now engaging in aerial spraying to reduce the number of mosquitoes.

      Nationwide, 5 cases of humans contracting EEE have been reported to the CDC – three in Massachusetts and two in Wisconsin. Generally speaking, there are only 5 to 9 cases of EEE in the US every year with 30% of those cases resulting in death.

      The incubation period of EEE is usually around 4 to ten days, and symptoms can be mild including fever, chills, aches, and general discomfort. Severe cases can involve swelling of the brain and meningitis.

      While everyone should agree that caution must be exercised when dealing with communicable diseases, canceling town events, social gatherings, and staying indoors seems a bit ridiculous. Especially when the disease is one suspected case of a virus that kills a maximum of ten people on a yearly average across the country.

      But that is where we are.

      It is possible that MDHHS is truly concerned about the spread of the virus. However, it is once again, at best, engaging in extraordinary levels of hysteria and restrictions to deal with what is essentially an ordinary virus. Keep in mind, Michigan has no confirmed human cases of EEE in the state as of yet and only one suspected case.

      Health agencies have lost credibility in the eyes of all but the far left public.

      Health agencies across the entire country as well as across the entirety of the world have essentially destroyed their own credibility with the unprecedented hype and hysteria over COVID and the subsequent rights-crushing “recommendations,” “guidelines,” proclamations, and Executive Orders. So many things have not added up since the beginning and they’ve even admitted they lied about masks early in the outbreak. These agencies have led the charge against the American economy, individual rights, and the mental and physical health of every single American. All over a virus that has yet to be isolated properly in a lab and has not come anywhere close to killing the number of people we were told it had, much less predicted it would.

      This is where the danger comes in. Hysteria and a self-imposed apocalypse over COVID. Hysteria over EEE. What virus will cause hysteria next? How many times will this continue until everyone simply ignores everything the CDC and other health agencies have to say? If, or more likely when, there is a real and deadly pandemic, will the general population simply respond to their health agencies with sneers and memes?

      Let’s face it, we’ve reached the point where half of the population is doing that already.

      We see the same irresponsibility from MSM and government regarding weather.

      Anyone who lives on a southern coastal state can tell you that there is a seasonal panic set in by local and national media when hurricane season arrives. Not in the last 20 years has there been a beginning of a hurricane season where predictions were anything other than “deadly” and “unusually busy.” National media predicts every storm will be a major hurricane and every hurricane will be devastating and bring “imminent death.” Some general hurricane preparedness steps are usually sufficient.

      Of course, most of these storms are just storms.

      Some even bring badly needed rain to drought areas. People who listen to the Weather Channel and state governments often look completely foolish when they realize they ran away from a summer shower. People who ignored those agencies often are rewarded with some peace and quiet and a few more pounds due to overeating their hurricane snacks.

      But, every once in a while, the hysteria is justified. Every once in a while, a Cat 5 hits land and lays complete waste to cities and towns. By this time, people have been burned over and over with repetitive claims of imminent death and other nonsense. They ignore the reports. They ignore the warnings and they don’t prepare. This is when the death toll is the highest.

      The moral of the story is not that the government should do nothing and it certainly isn’t that it should do everything.

      The media and government have way too much power.

      By allowing media and government to maintain so much power, we have allowed a situation to be created where hysteria and dependency justify their existence and more fear and hysteria ensure its continuation.

      The moral of the story is to think for yourself and to prepare for all eventualities while still allowing yourself to live your life and not just spend it trying to avoid death.

      Lastly, maybe health “authorities” shouldn’t have so much “authority” after all.

    • ANTIFA Is Compiling Lists Of "Fascist" Businesses For Yelp's New "Racist Behavior Alerts"
      ANTIFA Is Compiling Lists Of “Fascist” Businesses For Yelp’s New “Racist Behavior Alerts”

      Tyler Durden

      Sun, 10/11/2020 – 16:35

      It was less than 48 hours ago that we pointed out that “review” website Yelp was getting into the business of social justice by saying it would append a “Business Accused of Racist Behavior Alert” to any businesses page where a company had been accused of racism.

      “The bullshit never ends,” said Donald Trump Jr., in response to the idea. “What are the odds this isn’t insanely abused?” he followed up asking on Friday:

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      Well, Don, we think we have an answer for you: the odds look pretty long. That’s because just 2 days after Yelp’s announcement, ANTIFA has already starting compiling the names of businesses that it wants to submit to Yelp and put out of business.

      As if throwing rocks through their windows and stealing from them wasn’t enough.

      The list is being prepared by the same ANTIFA group is that “responsible for organizing the violent Portland riots,” according to the Post Millennial. In fact, Tweets from the group compiling the data suggests that ANTIFA members submit “non-friendly” businesses, “AKA any company that’s hanging blue lives garbage in their store or anything else that’s anti the BLM movement”. 

      So, in essence, Black Lives Matter is now being granted the power to shut down whatever businesses it doesn’t like. And remember, this is supposed to be the anti-fascist group. 

      In the replies to the @SafePDXProtest tweet asking for names (the account is locked) one user reported Brothers Cannabis Dispensary for “pro-cop sh*t in the windows.” The dispensary hilariously replied to the user, telling them they were a minority owned business and that the “pro-cop” stuff in the windows was nothing more than a Portland Police Alarm permit.

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      Small Pharaoh’s Falafel was also targeted for having a sign hanging up that said – among many other things – “Trump 2020”. 

      “F**k the racism, f**k the media, f**k the press,” the rest of the sign says. “If we are looking for peace and justice, we should have some respect and morals.”

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      Hollywood Beverage and Liquor was also targeted by the group. The “oldest liquor store” in all of Oregon, which has been around since 1934, drew the ire of ANTIFA when a Trump flag was spotted hanging in the office of its owner. Its owner, Dan Miner, had posted on social media over the summer: “The sole redeeming aspect of the oppressive mandate to wear a mask is the great number of times a day I pull it off and appreciate the smell of freedom.”

      Conservative columnist Rita Panahi pointed out what we suggested in our first article about Yelp’s practices – that they would essentially be used for extortion (a business model Yelp is allegedly familiar with already). She wrote: “Businesses are going to be coerced into supporting certain groups to avoid being targeted. It’s tantamount to extortion.”

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      Meanwhile, Yelp has already openly admitted that the new feature is being implemented to appease the Black Lives Matter movement: “The new Business Accused of Racist Behavior Alert is an extension of our Public Attention Alert that we introduced in response to a rise in social activism surrounding the Black Lives Matter movement.”

      Great work in saving the world, Yelp.

      Meanwhile, anyone else in the mood for falafel? 

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