Apr 15

Today’s News 15th April 2024

  • Why Mankind Remains So Lost In Economic-Ignorance & Tribalistic-Warmongering
    Why Mankind Remains So Lost In Economic-Ignorance & Tribalistic-Warmongering

    Authored by Jorge Besada via The Mises Institute,

    Carl Menger’s Overlooked Vital Evolutionary Insights

    Carl Menger is widely recognized as one of the economists leading the so-called marginalist revolution along with William Stanley Jevons and Léon Walras. There are two other contributions by Menger that are relatively underappreciated and are vital for making sense of the socioeconomic order, including why mankind remains so lost in economic ignorance and tribalistic warmongering.

    They are, first, his insights into the proper method or way to study the economy or social order and its emergence-evolution, and second, his application of such wisdom to explain the evolution of money and the entire socioeconomic order that further emerges thanks to money. Let’s further expand on these two.

    Menger wrote an entire book devoted to discussing the proper method with which to study the social sciences, aptly titled Investigations into the Methods of the Social Sciences. So how should we study the social sciences according to Menger? He writes,

    Natural organisms almost without exception exhibit, when closely observed, a really admirable functionality of all parts with respect to the whole, a functionality which is not, however, the result of human calculation, but of a natural process. Similarly we can observe in numerous social institutions a strikingly apparent functionality with respect to the whole. But with closer consideration they still do not prove to be the result of an intention aimed at this purpose, Le., the result of an agreement of members of society or of positive legislation. They, too, present themselves to us rather as “natural” products (in a certain sense), as unintended results of historical development. One needs, e.g., only to think of the phenomenon of money, an institution which to so great a measure serves the welfare of society, and yet in most nations, by far, is by no means the result of an agreement directed at its establishment as a social institution, or of positive legislation, but is the unintended product of historical development. One needs only to think of law, of language, of the origin of markets, the origin of communities and of states, etc. Now if social phenomena and natural organisms exhibit analogies with respect to their nature, their origin, and their function, it is at once clear that this fact cannot remain without influence on the method of research in the field of the social sciences in general and economics in particular. . . . Now if state, society, economy, etc., are conceived of as organisms, or as structures analogous to them, the notion of following directions of research in the realm of social phenomena similar to those followed in the realm of organic nature readily suggests itself. The above analogy leads to the idea of theoretical social sciences analogous to those which are the result of theoretical research in the realm of the physico-organic world, to the conception of an anatomy and physiology of “social organisms” of state, society, economy, etc.

    Like Herbert Spencer, his contemporary and arguably the most famous and influential intellectual of the late 1800s, Menger too felt like the social order was akin to a “social organism” and should be studied using an organic or evolutionary approach similar to how we study the biological order. Menger thus felt like the methods of the physical sciences, like their use of mathematics, was as inappropriate for understanding the monumental complexity and evolution of the social order as it was for the biological one.

    He writes, “I do not belong to the believers in the mathematical method as a way to deal with our science. . . . Mathematics is not a method for . . . economic research.”

    Ludwig von Mises and F.A. Hayek would of course follow suit. Mises wrote, “As a method of economic analysis econometrics is a childish play with figures that does not contribute anything to the elucidation of the problems of economic reality.”

    Hayek also ridicules the “extensive use of mathematics, which must always impress politicians lacking any mathematical education, and which is really the nearest thing to the practice of magic that occurs among professional economists.”

    The following analogy helps us further understand Menger’s vital insights.

    Just like the human body organism and the numerous “systems” that coordinate it—like the respiratory-nervous-digestive systems—are the result of the actions of some seventy trillion human and bacterial cells but obviously NOT the result of any conscious planning or designing by them. And thanks to the likes of Darwin and a modern understanding of genetics, we can hypothesize how natural selection was the inadvertent “designer” of such systems and complex order. The modern global socioeconomic order—“social organism”—is also coordinated by a system, by what Menger’s intellectual descendants like Ludwig von Mises and his great protégé 1974 Nobel laureate in economics F.A. Hayek referred to as “the market process.” The market process is composed of “parts” like money, prices, economic competition, interest rates, and the legal-religious-governmental frameworks that sustain it. However, the result of the actions of men “do not prove to be the result of an intention aimed at this purpose . . . but is the unintended product of historical development,” similar to how cells inadvertently and unconsciously acted to create the systems that coordinate multicellular life.

    The above mindset or “method” allowed Menger to then make what is arguably the most important insight, or what I like to call the “flux-capacitor” idea, of the social sciences: Menger’s explanation of the evolution of money and its numerous ramifications. Consider the following: from the tradition of private property emerges the freedom to trade it with anyone in the entire planet which inadvertently transforms mankind into a global supercomputer where people via the private companies they create are motivated to innovate and learn from each other (competitors), thus inadvertently cooperating to discover and spread superior information and subsequent order throughout the world.

    Money is what enables this civilization-creating mechanism. Every social-order entity, whether a person or a company, is in a constant cycle of the production and consumption of wealth. A business’s sales revenue or a worker’s paycheck is an estimate of how much wealth was produced, and costs are an estimate of how much wealth was consumed while production took place. If there is more production (sales revenue) than consumption (costs), then the order is profitable and has thus increased the economic pie of wealth.

    Money is what allows the profit-loss calculation that allows billions of people and companies to order their actions in a profitable and thus pie-order-increasing manner. Also, without money, how would a heart surgeon trade his services for a toothpick? Everything mentioned above that plays a vital role in creating civilization or “the social organism” ultimately depends on and emerges from the use of money. Economics students quickly learn how money is what overcomes the “double coincidence of wants” problem that allows trade and its vital benefits like the ever-expanding division of labor and information to arise.

    Without money there is no complex division of labor or information above the levels of small tribes, and thus no large-scale civilization or “social organism.” Menger’s vital insight regarding money is that he showed how money, just like language, was an evolved and NOT designed innovation. Since money was an evolved and NOT designed innovation, this also means that all the other vital mechanisms that, taken together, make up the market process like profit-loss calculation and economic competition, they too are largely evolved/undesigned mechanisms.

    This is the key to understanding how we live in this massively complex world, with a rapidly expanding and intensifying division of labor and information that creates mind-bogglingly complex microchips, the internet, etc. Yet the masses and their politicians remain economically ignorant, segregating themselves into us versus them, using the technology to fight deadlier wars, and ignorantly attempting to centrally plan the social-order economy, which inadvertently destroys the evolved and undesigned economic competition which is what really creates and spreads the information that creates civilization.

    The above insights and more associated with Menger’s Austrian School of Economics, as Hayek tells us, “belong fully and wholly to Carl Menger.” Hayek again said, “There must be few instances . . . where the works of an author who revolutionized the body of an already well-developed science and who has been generally recognized to have done so, have remained so little known as those of Carl Menger.”

    Yes! And we are running out of time to catch up to Menger. It took a while for the vital myth-shattering ideas of Galileo, Bruno, and Copernicus to spread. We find ourselves in a similar situation.

    Whether homo sapiens ultimately self-destroy in another tribalistic world war, socialist revolution, environmental disaster, or covid-mania, self-mutilating economic lockdown, it will all come down to whether Menger’s ideas reach people of influence in time.

    Tyler Durden
    Mon, 04/15/2024 – 02:00

  • Bread And Circuses: What It Means For Once-Great Nations
    Bread And Circuses: What It Means For Once-Great Nations

    Authored by Nicole James via The Epoch Times,

    Democracy, that ever-so-fleeting fancy, has a tendency to tumble into a bit of a tizz before it topples over, panting and gasping like a winded walrus.

    John Adams, ever the prophet of doom, once quipped, “Democracy never lasts long. It soon wastes, exhausts and murders itself”—a sentiment echoing through the corridors of time.

    And sounding much like the belch of a senator post-banquet in ancient Rome, where democracy was more a concept for philosophical banter than a practice.

    Indeed, Rome, with all its pomp and voracious appetite for self-indulgence, serves as a cautionary tale. It’s a well-trodden path.

    Once upon a time in Rome, there was Juvenal. Not your garden-variety naysayer, but a man whose tongue was so sharp, he could slice the moral fabric of society with a mere quip.

    “Bread and circuses,” he scoffed.

    “Keep the masses stuffed and entertained, and they won’t utter a peep against you.”

    How a Great Empire Withered on Opulence

    And so, Rome bloated, not just in the midriff but in its sense of self, as leisure became the national pastime.

    Back then, over 200,000 souls, their fingers sticky from pastry, found the concept of lifting a finger (unless it was to signal for another helping) utterly foreign.

    Rome was transformed into a grand stage, where almost every day was a festival, and the citizens were either performers, spectators, or busy in the vomitorium making room for the next course.

    Naval skirmishes in makeshift lakes, chariot races that put the fast and furious to shame, and theatre so risqué it could make a statue of Venus look prudish, were all funded by the very people it was designed to distract.

    Ninety-three days of sheer, unadulterated spectacle each year, turning Rome from a republic into an extravagant production, where democracy was but a whisper drowned out by the roar of the crowd.

    Sound familiar?

    A face-masked man walks by the ancient Colosseum in downtown Rome on Dec. 5, 2020. (Filippo Monteforte/AFP via Getty Images)

    As the mighty arm of the empire began to resemble less of a fearsome gladiator and more of a feeble old man waving a stick at rambunctious youths, the calendar started to look like a mushroom farm after a spring shower, each new holiday popping up to toast to victories most had forgotten the taste of.

    Seems positively contemporary, what with the world running out of calendar days and having to celebrate Easter Sunday on Trans Awareness Day, an event that surely had the ancients rolling in their extravagantly decorated sarcophagi, perplexed by the modern conundrum of “calendar overcrowding.”

    Emperors, those illustrious leaders of men, were reduced to headline acts in this comedic opera, plastering on smiles and feigning a zeal for the games that could rival a wet sponge’s enthusiasm for a desert trek.

    In this farce, the once hallowed ceremonies now resembled a confused shuffle of days, where the only thing more bewildering than the holidays themselves was the populace’s ability to keep track of what they were celebrating.

    Gone were the days of the iron-fisted rule of Julius Caesar or the cunning Augustus. Now, the sceptre was in the shaky grasp of the likes of Commodus and Septimius Severus, whose reigns were as inspiring as a flat ale on a hot day.

    Leadership, once a robust wine, had become a watery vinegar, with emperors inflating their egos and coffers, whipping up the populace into a frenzy with what amounted to little more than patriotic chest-beating and flag-waving.

    (Africa Studio/Shutterstock)

    The spectacles, meanwhile, morphed into a grotesque parade of the bizarre and the barbaric, a stark contrast to the fading reality of employment and land ownership—those became the stuff of fairy tales.

    Even the steadfast Marcus Aurelius watched helplessly as the empire’s coinage became as flimsy as modern promises of fiscal restraint, shrinking in both size and worth.

    Bread and Circuses of the Present

    Leap forward to the present, and the circus hasn’t so much as ended as it has swapped costumes.

    Today’s coliseum is filled with Drag Time Story Hours and a calendar so crammed with celebrations of every stripe of pride and culture that one might need a guide to navigate it.

    Subsidies shower down like the finale of a firework show, ensuring the populace remains too stuffed on the bread and dazzled by the circus of reality TV outrages and viral sensations to notice the ground shifting beneath their feet.

    In this grand festival of the now, one has to wonder if we’ve become spectators in our own version of Rome’s downfall, squinting at the bright lights, too entertained to notice we’re perched on the edge of history’s greatest pratfall.

    Will the grand banquet of our times end in a burp of regret?

    *  * *

    Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

    Tyler Durden
    Sun, 04/14/2024 – 22:55

  • "This Person Is A Crazy Racist": New NPR CEO Exposed As Woke Activist
    “This Person Is A Crazy Racist”: New NPR CEO Exposed As Woke Activist

    Last week, veteran NPR reporter Uri Berliner – a longtime ‘Subaru driving’ lefty who was raised by a ‘lesbian peace activist mother’ – wrote a scathing report accusing the network of overwhelming bias.

    Introspection was the last thing on NPR’s mind, however, as new CEO Katherine Maher chastised Berliner as “profoundly disrespectful, hateful, and demeaning” to his colleagues for calling out political bias.

    Katherine Maher

    As Jonathan Turley notes:

    In a memo Friday, Maher told the staff that Berliner attacked not only “the quality of our editorial process and the integrity of our journalists” but “our people on the basis of who we are.”

    …

    Maher’s response was hardly surprising. She was a controversial hire at NPR. Many had hoped that NPR would seek a CEO who could steer the company away from its partisan and activistic trend. The prospect could have brought moderates and conservatives back into NPR’s listening audience. Maher, however, was part of that trend.

    This should come as no surprise given Maher’s history as a complete lunatic who spews woke diatribes on X – calling herself “someone with cis white mobility privilege” and other nonsense.

    In response to journalist Chris Rufo pointing this out, Elon Musk replied that she’s a “crazy racist!”

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    Maher also says that “America is addicted to white supremacy,” which is the “real issue.”

    She also excused looters, and even slammed Hillary Clinton for correctly gendering individuals.

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    What’s the answer? Donald Trump suggests defunding them.

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    Tyler Durden
    Sun, 04/14/2024 – 21:35

  • "Read Ludwig von Mises, Motherf**kers!" – Brazilian UFC Fighter's Victory Speech Pumps Austrian Economics
    “Read Ludwig von Mises, Motherf**kers!” – Brazilian UFC Fighter’s Victory Speech Pumps Austrian Economics

    While the Middle East wobbled on the precipice of World War III on Saturday, a Brazilian UFC fighter gave us hope by using his victory speech to deliver an emphatic endorsement of Austrian economics, Ludwig von Mises, the First Amendment and gun rights. 

    Renato Moicano’s televised speech came after he pulled off a comeback win over Jalin Turner at Las Vegas. Joe Rogan joined him in the ring to discuss the fight, but Moicano had other priorities, and proceeded to drop a profanity-peppered liberty bomb on the T-Mobile Arena crowd and a worldwide audience:  

    “I’m a huge advocate of the First Amendment. Today, of course I want the $300k bonus but they not going to give [it to me] because somebody say, ‘hey, this is fucking Disney, you cannot curse’…so I’m not going to do my speech, but…

    First off all I love America. I love the Constitution. I love the First Amendment. I want to carry all the fucking guns. I love private property. And let me tell you something: If you care about your fucking country, read Ludwig von Mises and the six lessons of the Austrian economic school, motherfuckers!”

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    By “six lessons of the Austrian economic school,” Moicano was referring to a concise, 106-page Ludwig von Mises book, “Economic Policy: Thoughts for Today and Tomorrow.” Among the best-selling Mises works, it’s broken into six sections: Capitalism, Socialism, Interventionism, Inflation, Foreign Investment, and Policies and Ideas. (The Brazilian version’s title translates to “The Six Lessons.”) 

    The lessons are transcribed from a series of lectures Mises delivered at the University of Buenos Aires in 1959. Per the book’s description, “Mises had urged Argentina to turn from dictatorship and socialism toward full liberty, so there is a special urgency behind the cool logic employed here. The book’s continued popularity is due to its clarity of exposition on the ways in which economic policy affects everyone.”

    Eager to follow Moicano’s directive? Via the Mises Institute, you can read the book online, download a PDF for free, or buy a paper copy from the Mises Bookstore for just eight Federal Reserve notes. It’s likely that plenty of people are already buried in their homework: On Saturday night, UFC fans and others dove into web searches to see what Moicano was talking about… 

    …while libertarians and Austrian economics devotees raced to share Moicano’s speech on social media: 

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    Tyler Durden
    Sun, 04/14/2024 – 21:11

  • 19 Retired Generals, Admirals File Supreme Court Brief Against Trump Immunity Bid
    19 Retired Generals, Admirals File Supreme Court Brief Against Trump Immunity Bid

    Authored by Jack Phillips via The Epoch Times (emphasis ours),

    More than a dozen former Defense Department officials, generals, and admirals filed a brief with the Supreme Court arguing against former President Donald Trump’s presidential immunity arguments.

    (Left) Special Counsel Jack Smith delivers remarks in Washington on Aug. 1, 2023. (Right) Former President Donald Trump attends his trial in New York State Supreme Court in New York City on Dec. 7, 2023. (Drew Angerer, David Dee Delgado/Getty Images)

    It comes as the U.S. Supreme Court is set to hear arguments on the former president’s assertions that he should enjoy immunity from prosecution for activity that he carried out while he was president. The former president invoked that argument after he was accused by federal prosecutors of attempting to illegally overturn the 2020 election results.

    The amicus brief’s signatories include former CIA Director Michael Hayden, retired Admiral Thad Allen, retired Gen. George Casey, retired Gen. Charles Krulak, and more.

    They claimed that granting President Trump immunity against criminal claims could lead to activity that put U.S. national security at risk.

    “The notion of such immunity, both as a general matter, and also specifically in the context of the potential negation of election results, threatens to jeopardize our nation’s security and international leadership,” their brief stated. “Particularly in times like the present, when anti-democratic, authoritarian regimes are on the rise worldwide, such a threat is intolerable and dangerous.”

    The arguments submitted by President Trump will “risk jeopardizing America’s standing as a guardian of democracy in the world and further feeding the spread of authoritarianism, thereby threatening the national security of the United States and democracies around the world,” the group added.

    The former secretary of Defense under President Trump, Mark Esper, was critical of their submission to the Supreme Court, arguing during a CNN interview that he “would prefer to see retired admirals and generals not get involved.”

    But President Trump’s lawyers have contended that the president’s office cannot function without immunity from the threat of prosecution because it could “incapacitate every future president with de facto blackmail and extortion while in office and condemn him to years of post-office trauma at the hands of political opponents,” arguing that such a phenomenon is playing out right now after the former president was indicted multiple times last year.

    The U.S. Circuit Court of Appeals had earlier issued a ruling against President Trump’s arguments that he should be declared immune from prosecution. The appeals process, meanwhile, has put on hold the former president’s trial in Washington.

    “A denial of criminal immunity would incapacitate every future president with de facto blackmail and extortion while in office, and condemn him to years of post-office trauma at the hands of political opponents. The threat of future prosecution and imprisonment would become a political cudgel to influence the most sensitive and controversial presidential decisions, taking away the strength, authority and decisiveness of the presidency,” according to President Trump’s filing issued last month.

    The former president last October sought to have the charges dismissed based on his claim of immunity. U.S. District Judge Tanya Chutkan rejected those arguments in December.

    “Even if some level of Presidential malfeasance, not present in this case at all, were to escape punishment, that risk is inherent in the Constitution’s design,” President Trump’s attorneys also wrote to the high court.

    “The Founders viewed protecting the independence of the Presidency as well worth the risk that some Presidents might evade punishment in marginal cases,“ they said, adding that the Founding Fathers were ”unwilling to burn the Presidency itself to the ground to get at every single alleged malefactor.”

    Special counsel Jack Smith has pushed for the U.S. high court to reject the former president’s claims of immunity, telling the justices that President Trump’s actions that led to the charges, if he is convicted, would represent “an unprecedented assault on the structure of our government.”

    Former CIA Director Michael Hayden (Ret.) testifies during a hearing before the Senate Armed Services Committee on Capitol Hill in Washington on Aug. 4, 2015. (Alex Wong/Getty Images)

    “The effective functioning of the presidency does not require that a former president be immune from accountability for these alleged violations of federal criminal law,” Mr. Smith wrote this week. “To the contrary, a bedrock principle of our constitutional order is that no person is above the law including the president.”

    The signatories to the amicus brief include retired Army Gens. George Casey and Peter Chiarelli, retired Air Force Gens. John Jumper, Craig McKinley, and Charles Wald; retired Marine Corps Gens. Carlton Fulford, Charles Krulak, and Robert Magnus; retired Navy Admirals Steve Abbot, Samuel Jones Locklear, John Nathman, Bill Owens, and Scott Swift; and retired Coast Guard Adm. Thad Allen.

    Several former civilian Pentagon officials signed onto the brief. They include former Army Secretary Louis Caldera, former Air Force Secretary Deborah Lee James, Navy Secretary Sean O’Keefe, and Navy Secretary Ray Mabus.

    Backing President Trump, several GOP-led states filed a petition to the Supreme Court arguing that the justices should reverse the appeals court’s decision and grant the former president immunity in the cases.

    Reuters contributed to this report.

    Tyler Durden
    Sun, 04/14/2024 – 21:00

  • Whistleblowers To Further Dismantle Jan. 6 National Guard Narrative About Trump
    Whistleblowers To Further Dismantle Jan. 6 National Guard Narrative About Trump

    On Wednesday, whistleblowers from the Washington DC National Guard are expected to tell Congressional investigators that former President Donald Trump wanted them deployed, but an Army Secretary, Ryan McCarthy, delayed relaying this to DC National Guard Commander William Walker by at least two hours.

    According to the Daily Mail, at least three whistleblowers will also testify that their stories were ignored by the Democrat-led January 6 committee because it didn’t fit their narrative. The hearing will aim to further prove that Acting SecDef Christopher Miller did give advance approval to deploy the National Guard at Trump’s command.

    Instead of getting to the bottom of the breakdown in communication and focusing on improving Military preparedness for future incidents, the witnesses feel the January 6 panel was solely focused on pinning blame for the events that day on Trump.

    The officers, who were with Walker the day of the Capitol riot, will detail how they were on buses in full tactical gear for hours waiting for the go-ahead from the Army.

    McCarthy has stated under oath that he did give a timely order for deployment of the D.C. National Guard – but Walker’s troops said they found out about mobilization during a press conference, which led to a three-hour-and-19-minute delay of forces arriving at the Capitol. -Daily Mail

    Some have suggested that McCarthy was trying to intervene over the optics of the Army, under his command, trying to inhibit or interfere with certification of the 2020 presidential election results – and that he may have been vying for a spot in the incoming Biden administration.

    The hearing on Wednesday, “Three Years Later: D.C. National Guard Whistleblowers Speak Out on January 6 Delay,” will explore whether Trump was at fault for the delay in deploying the National Guard.

    Last month, Rep. Barry Loudermilk (R-GA), chairman of the Oversight Subcommittee reviewing the J6 investigation into the Capitol riot, released a never-before-seen transcript with Trump’s J6 security chief Tony Ornato, during which he testifies that Trump did in fact authorize the National Guard to be mobilized to DC that day – which completely shredded the J6 committee’s argument that Trump simply wanted to stoke chaos that day.

    Meanwhile, both Capitol Police Chief Steven Sund and DC National Guard leader Maj. Gen. Walker have testified that Army Lt. Gen. Walter Piatt (ret.) delayed or ignored Sund’s request for National Guard support – claiming that Piatt said “I don’t like the visual of the National Guard standing a police line with the Capitol in the background.”

    On Wednesday, the whistleblowers will be able to corroborate these claims.

    Tyler Durden
    Sun, 04/14/2024 – 19:15

  • The Only Market Traders Followed During Saturday's Attack On Israel Was Bitcoin
    The Only Market Traders Followed During Saturday’s Attack On Israel Was Bitcoin

    By Eric Peters, CIO of One River Asset Management

    The Iranian attack on Israel appeared as an iPhone price alert well before any news service would run the story. That’s how markets work. Crypto is the only liquid asset class that trades on Saturday, so those of us who never really turn off learned something big happened right around 3:45pm ET on Saturday (ZH: which is precisely when we noticed this first…).

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    Bitcoin dumped from $67,000 to $61,750 in a matter of minutes. Had the S&P 500 been open, it would’ve gapped lower by 3.0% give or take, in my estimation. Probably not enough to seriously stress the stop-loss mechanisms at all those grossly overleveraged multi-manager pod shops, but a reminder that markets are continuous until they are not.

    And anyway, by the time of the S&P futures market open on Sunday night at 6pm ET, and then the liquid cash market open at 9:30am ET Monday, we’ll know a lot more, and prices will reflect the new information.

    The Iranian regime posted this on X at 6:06pm ET, well after it initiated hostilities:

    Conducted on the strength of Article 51 of the UN Charter pertaining to legitimate defense, Iran’s military action was in response to the Zionist regime’s aggression against our diplomatic premises in Damascus. The matter can be deemed concluded. However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the U.S. MUST STAY AWAY!

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    Crypto traders appeared to take some comfort in the Iranian sentence: “The matter can be deemed concluded.” Bitcoin prices bounced off the bottom. And while Israeli sources indicated they intercepted 99% of the incoming drones and missiles, they also suggested the Iranian attack requires a decisive response.

    G7 countries planned a call for Sunday to coordinate a response. Biden pledged to stand by Israel. The US Navy sent an amphibious warship to the Eastern Mediterranean with 2,500 young Marines.

    And those of us, many thousands of miles from the region, prayed that we restore a semblance of balance, stability, peace, through greater internal political cooperation at home, principled diplomacy abroad, and overwhelming economic and military strength.

    Tyler Durden
    Sun, 04/14/2024 – 18:52

  • Americans Panic-Search "World War III" And "Can I Be Drafted" As Iran Bombs Israel
    Americans Panic-Search “World War III” And “Can I Be Drafted” As Iran Bombs Israel

    Americans panic searched “World War III” and other related searches following Iran’s Saturday night attack on Israel with hundreds of missiles and drones.  

    Using data from Google Trends, “World War III” searches surged nationwide, hitting a five-year high. 

    Americans also searched “When will world war iii begin” and “When is world war iii going to happen” and even “Alexa, when will world war iii start,” as well as “Are We headed for world war iii”. 

    Meanwhile, a surge in Americans, likely younger millennials and Gen-Zers, have been asking Google search about the military draft age. 

     

    Here are other spiking internet searches.

    For all those neocon warmongering DC elites, remember that DEI Gen-Zers have already stated they will not fight any more of your foreign wars… What about recruiting all the military-aged migrants that just flooded the nation instead?

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    Meanwhile…

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    Sigh, America. 

    Tyler Durden
    Sun, 04/14/2024 – 18:05

  • Judge Upholds Georgia's Voter Citizenship Verification Requirements
    Judge Upholds Georgia’s Voter Citizenship Verification Requirements

    Authored by Tom Ozimek via The Epoch Times (emphasis ours),

    A federal judge has dismissed a legal challenge to Georgia’s voter citizenship verification requirements, keeping in place the state’s process of cross-checking citizenship status to determine voter eligibility and handing a win to election integrity advocates.

    A file image of voters standing in line to cast their ballots during the first day of early voting in the U.S. Senate runoff, in Atlanta, Ga., on Dec. 14, 2020. (Jessica McGowan/Getty Images)

    Judge Eleanor Ross of the U.S. District Court for the Northern District of Georgia issued a ruling on April 11 that dismisses a lawsuit brought by a coalition of advocacy groups nearly six years ago that claimed Georgia’s voter citizenship verification requirements unfairly discriminated against naturalized citizens, who are more likely to be people of color.

    Following a three-day trial, the judge ruled that all four of the plaintiffs’ claims—including that the protocols violated multiple federal laws, the U.S. Constitution, and unfairly burdened the right to vote—are dismissed.

    In so doing, the judge sided with a motion for summary judgment made in 2021 by the defendant, Georgia Secretary of State Brad Raffensperger, who argued that the state’s protocols for matching naturalized citizens’ voter registrations with the state’s citizenship records were “entirely reasonable” and placed a “minimum burden” on applicants.

    Mr. Raffensperger argued that, in almost every case, the requirement was fulfilled by matching driver’s licence or state identification numbers submitted for voter registration with corresponding records at the Georgia Department of Driver Services (DDS) to confirm citizenship status.

    When a naturalized citizen registers to vote in Georgia, their county registrar verifies proof of citizenship using DDS data. If that voter’s citizenship cannot be verified through that database, the onus is on the voter to submit proof of citizenship within 26 months or their voter registration application will be canceled.

    The plaintiffs have alleged that DDS data is often outdated, leading many naturalized citizens’ voter registrations to be flagged and canceled unfairly.

    Mr. Raffensperger disputed the claim that this issue affected many people, arguing in his motion that “any arguable burden on this small group of people to demonstrate they are now citizens is minimal and does not go beyond the ‘usual burdens of voting’ because it can be resolved as simply as showing the same photo identification that every Georgia voter is required to show in order to vote in person in Georgia.”

    He also argued that the citizenship process serves a “compelling interest” in ensuring that only eligible voters are allowed to cast a vote, an argument raised by election integrity advocates across the country amid various disputes over voting rules.

    ‘Common Sense’ Versus ‘Disappointing’

    The plaintiffs sued Mr. Raffensperger in 2018, arguing that the state’s protocols for matching naturalized citizens’ voter registrations with the state’s citizenship records violated Section 2 of the Voting Rights Act (VRA) and the 14th Amendment’s Equal Protection Clause.

    They also claimed that these protocols put an unfair burden on the right to vote, in violation of 1st and 14th Amendment protections, while also claiming that the requirements ran counter to the National Voter Registration Act (NVRA) by delaying or denying qualified voters from registering to cast ballots.

    The coalition of groups asked the court to rule that the citizenship matching protocols were illegal, and to permanently block their enforcement.

    The case eventually went to trial on April 8, 2024, leading to a favorable ruling for Mr. Raffensperger and delivering a win to election integrity advocates more generally.

    “Ensuring that only U.S. citizens vote in our elections is critically important to secure and accurate elections,” Mr. Raffensperger said in a statement praising the ruling.

    “Georgia’s citizenship verification process is common sense and it works. With this ruling, we are able to continue ensuring that only U.S. citizens are voting in our elections,” he added.

    Aunna Dennis, executive director of Common Cause Georgia, one of the plaintiffs, told The Epoch Times in an emailed statement that the ruling is disappointing as it keeps in place obstacles to casting a vote.

    “This is disappointing because it will potentially disenfranchise citizen voters who now have to jump through multiple bureaucratic hurdles to vote,” Ms. Dennis said. “It will also create shock waves that may chill other new voters from trying to vote, even when they are eligible.”

    “Sadly, Georgia’s lawful voters will bear the brunt of anti-immigrant sentiments,” she added.

    Election Integrity or Voter Suppression?

    The ruling comes amid concern in some circles that noncitizens—including some of the many millions of illegal immigrants who have entered the United States since President Joe Biden took office—may cast votes unlawfully in the high-stakes 2024 election.

    It also comes amid a broader fight between those who see election integrity efforts as “voter suppression” and those who believe that the security of U.S. elections is too lax and should be tightened.

    According to a running tally by the left-leaning Brennan Center for Justice, expansive voting laws far outpaced restrictive ones in 2023.

    At least 53 expansive voting laws were introduced last year in at least 23 states, compared to 17 restrictive laws being passed in 14 states, suggesting that the election integrity movement is falling behind.

    Amid concerns over voter fraud, former House Speaker Newt Gingrich recently suggested that to win the presidential election in November, Republicans need to outvote Democrats by a significant margin.

    “Everybody who wants an honest election should know that in the long run, we need the French model. Everybody votes on the same day. Everybody has a photo ID, everybody’s accounted as a person,” Mr. Gingrich said in a February interview on Fox News.

    “But until we get to that, if Republicans want to win this year, under the rules that exist this year, they need to outvote the Democrats by about 5 percent, which is a margin big enough that it can’t be stolen,” he said.

    Elsewhere, an election integrity monitor laid out over a dozen “critical” reforms that it believes are necessary in order to secure voter integrity in the 2024 election, including outlawing ranked choice voting and non-citizen voting, consolidating election dates, requiring voter ID, and safeguarding vulnerable mail ballots.

    Tyler Durden
    Sun, 04/14/2024 – 17:30

  • Trump Prepares For Monday's 'Fake Biden Trial' With 'Highly Conflicted' Manhattan Judge
    Trump Prepares For Monday’s ‘Fake Biden Trial’ With ‘Highly Conflicted’ Manhattan Judge

    Former President Trump will take his 2024 campaign to New York on Monday, where he’ll be sitting in a Manhattan courtroom for what he decried as a “Fake Biden Trial” to face 34 counts of falsifying business records in connection with the Stormy Daniels ‘hush money’ embroglio. The trial comes after an unsuccessful bid to adjourn the case due to overwhelming pretrial publicity, which Judge Juan Merchan denied, calling adjournment “not tenable.”

    Manhattan Supreme Court Justice Juan Merchan, left, and former President Donald Trump (via the Daily News)

    Trump has taken to Truth Social in recent days, suggesting on Sunday that Merchan is “perhaps the most highly conflicted Judge in New York State history,” who gave Trump’s legal team insufficient time to analyze “hundreds of thousands of pages of documents that D.A. Alvin Bragg illegally hid, disguised, and held back from us.”

    Trump’s alleged crimes…

    As the WSJ notes, “The 34 felony counts in the indictment are all tied to records that prosecutors said Trump falsified as he reimbursed Cohen for the Daniels deal. They include 11 invoices, 12 general ledger entries and 11 checks.”

    As Mike Shedlock of Mishtalk notes, expect a media circus.

    A Recording Crime

    District Attorney Alvin Bragg took each receipt, invoice, and ledger receipt and made a separate felony charge out of each of them.

    Then Bragg twisted those charges into an intent to commit other crimes. Yet Trump is not charged with other crimes, only falsifying records. And it’s plausible that Trump had no direct knowledge of the mess.

    Michael Cohen

    This story goes back to Michael Cohen, a former attorney of Donald Trump, who landed in prison for by paying adult-film star Stormy Daniels $130,000 in 2016 to keep quiet about an alleged sexual encounter she had with Trump a decade earlier.

    The Journal notes that Falsifying business records is a misdemeanor under New York state law, but it can be elevated to a felony if records were falsified to conceal or commit another crime.

    What other crime? Trump is charged with none.

    Meanwhile as Politico reports, in addition to taking a “wrecking ball to Michael Cohen,” with nearly half of the respondents in a recent Politico/Ipsos poll saying that Cohen is not honest…

    Manhattan DA Alvin Bragg’s “Star Witness, Trump could try “asking the judge to give the jury the option of convicting him on lesser, misdemeanor offenses instead of the felony counts that have actually been brought by Manhattan District Attorney Alvin Bragg and his team of prosecutors.”

    Conflicted Juan

    Journalist Laura Loomer, a Trump supporter, has posted several receipts over the past several weeks showing Merchan’s various conflicts – including the fact that his daughter professionally brags about “doing ground-breaking, historical work for clients” including “Kamala Harris, Adam Schiff, and others.”

    Loomer also noted that Andrew Laufer, the lawyer for Michael Cohen (DA Alan Bragg’s “Star witness”), is tight with NY Attorney General Letitia James – who Mercnah’s wife worked for in what Loomer describes as a “major conflict of interest.”

    When asked by Laufer to explain the conflict, Loomer replied: “Don’t play stupid. You know what the conflict is,” adding “The Trump Trial begins tomorrow. In New York. And the star witness’s lawyer is chummy with the NY AG.“

    Sununu Pledges Support

    In an interview with ABC‘s George Stephanopoulos on Sunday, New Hampshire Gov. Chris Sununu (R) said he would support Trump even if he’s convicted.

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    Meanwhile the MSM is creaming over the thought or Orange Man Convicted.

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    As Mike Shedlock notes in closing:

    Can Trump Get a Fair Trial?

    That’s actually the wrong question. The right question is: Should there be a trial?

    Since there should not be a trial at all, by definition a trial cannot be fair.

    The charges are remarkably shaky and so is the key witness. It only takes one holdout to reach the correct conclusion, that felony charges are a sham.

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    Tyler Durden
    Sun, 04/14/2024 – 16:55

  • Over 1,300 Layoffs Hit Logistics Companies Across US
    Over 1,300 Layoffs Hit Logistics Companies Across US

    By Noi Mahoney of FreightWaves

    Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks.

    Universal Logistics

    Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state.

    The layoffs are related to Universal-operated entities Logistics Insights Corp. and Universal Dedicated of Detroit, an auto parts warehousing and logistics facility. Both operations were in Detroit.

    Universal Dedicated of Detroit’s closure will affect 230 truck drivers who worked from the facility.  Logistics Insights Corp.’s closure includes 164 warehouse workers, 212 forklift operators, 26 dockworkers and 45 clerical employees.

    Universal Logistics is a truckload transportation, intermodal and logistics provider across the U.S, Mexico, Canada and Colombia. The company has more than 10,000 employees.

    It did not provide a reason for the cessation of operations at the two entities in their state filings.

    Officials for Universal Logistics did not immediately respond to a request for comment from FreightWaves.

    Swissport Cargo Services

    Global cargo handler Swissport Cargo Services recently announced it is laying off 235 workers at a cargo handling operation in Atlanta.

    The layoffs, which are related to losing a contract with e-commerce giant Amazon, are expected to be finalized by May 22.

    “We’re always evaluating our operations to better serve our customers and have made the decision to change vendors at Atlanta Hartsfield International Airport,” Sam Stephenson, Amazon spokesperson, told FreightWaves. “This will not impact customer deliveries in the Atlanta area.”

    Amazon is working with incoming vendors to identify opportunities for impacted workers.

    On Feb. 19, Swissport announced it was laying off 378 workers at a cargo handling operation at Newark Liberty International Airport. The job reduction was also related to losing a customer contract, officials said.

    “Our customer has decided to change its service provider and to terminate the contract,” Swissport officials told FreightWaves. “To our great regret and as a result of this decision, all 378 Swissport employees at Newark airport will no longer be employed by Swissport.”

    The Kroger Co.

    The Kroger Co. recently announced it is cutting over 230 jobs and permanently closing delivery hubs in San Antonio and Austin, Texas, as well as Miami.

    The facilities operated as part of the Kroger Fulfillment Network, an e-commerce grocery delivery service for residential customers. The layoffs include 198 delivery drivers.

    “Despite our best efforts, including the support from new customers, learnings from other locations, and the incredible work of our associates, these facilities did not meet the benchmarks we set for success,” Kroger officials said in a statement to the media.

    The facilities will permanently close by the end of May.

    RXO Logistics 

    Transportation solutions provider RXO recently announced it is laying off 114 employees at a facility in Warren, Michigan.

    The layoffs are from RXO Managed Transport, a subsidiary operating at 29755 Chevrolet Road. Company officials did not give a reason for the layoffs in a notice filed with the state. 

    Officials for Charlotte, North Carolina-based RXO told Crain’s Detroit Business that the layoffs were related to the loss of a customer contract.

    The layoffs are expected to be finalized by May 31.

    Nosco Inc. 

    Packaging solutions provider Nosco Inc. is closing a facility in Carrollton, Texas, and laying off 51 workers.

    Company officials said the facility’s closure is related to the relocation of some operations to company headquarters in Pleasant Prairie, Wisconsin.

    The Carrollton facility will close permanently by Oct. 2. 

    Ryder Integrated Logistics

    Ryder Integrated Logistics is laying off 29 workers from a trucking facility in Romeoville, Illinois.

    The job cuts, which are scheduled to be finalized by April 30, are due to the loss of a customer, according to state filings.

    Ryder Integrated Logistics is a subsidiary of Ryder System, a Miami-based leasing, fleet management, transportation and supply chain solutions provider.

    Tyler Durden
    Sun, 04/14/2024 – 16:20

  • Javier Blas Outlines Ten Takeaways For Crude Market Following Iran's Direct Attack On Israel 
    Javier Blas Outlines Ten Takeaways For Crude Market Following Iran’s Direct Attack On Israel 

    Iran’s direct attack on Israel on Saturday evening is viewed certainly as an escalation in the Middle East conflict. Tehran’s missile and drone attack (widely unsuccessful) has been well-telegraphed (read: here & here) for the last two weeks, pushing up Brent crude oil futures above the $90 a barrel mark on heightened geopolitical risks in the region. 

    Iran’s direct attack on Israel could lead some traders to reevaluate the geopolitical risk premium even more. And this is because Tehran’s attack on Israel was direct, instead of through the usual foreign proxies such as Lebanon’s Hezbollah militia and Yemen’s Houthi rebels. So far, crude prices have been up 17.5% this year and have surged nearly 4% since the strike on Iran’s embassy earlier this month. 

    “Oil prices might spike at the opening, as this is the first time Iran struck Israel from its territory,” said Giovanni Staunovo, an analyst at UBS Group AG, as quoted by Bloomberg. 

    Staunovo added, “How long any bounce will last will also depend on the Israeli response.”

    According to Iman Nasseri, Middle East managing director at consultancy FGE, Brent crude has already priced in about a $10 risk premium. He said another $2 to $5 premium could be priced in on further concerns about tit-for-tat attacks across the region. 

    On Sunday, Iran warned the US if it supports an Israeli counterattack, then expect further escalation in the conflict across the region, especially with missiles and drones targeting US military bases. 

    Adding more fears in energy markets is the report earlier on Saturday that Iran’s paramilitary Revolutionary Guard seized an Israeli-linked container ship near the Strait of Hormuz, a critical maritime chokepoint in the region. Already, Iran-backed Houthis have targeted US and Israeli ships in the Bab-el-Mandeb Strait, yet another critical maritime chokepoint that disrupts global trade flows. 

    Making sense of this all is Bloomberg’s commodity expert Javier Blas, who outlined a few conclusions for energy markets following the flare-up in violence overnight:

    1. From a purely physical standpoint, nothing has changed in the world of oil. Middle Eastern crude is flowing into the global economy unimpeded, and the Strait of Hormuz, the world’s most important energy chokepoint, remains open to shipping. Put simply: there’s no oil shortage.

    2. The risk of a future disruption has increased. It would be naïve to say the Middle East looks today exactly as it did last week; a lot did change. I don’t think it was a purely symbolic attack. Even though telegraphed well in advance, Iran launched about 170 drones, 30 cruise missiles and 120 ballistic missiles, with the clear aim of overwhelming Israel’s defences. The options market, via deep out-of-the-money call contracts, should reflect the higher risks

    3. Iran appears to have aimed for an escalation to-deescalate, rather than opening the first chapter of a regional war. Even well before the drones and missiles reached Israel, Tehran indicated the attack was a one-off “legitimate defense” after the Israeli bombing of its embassy in Syria: “The matter can be deemed concluded.” If Israel considers that its response, bringing America and several Arab nations alongside to neutralize almost all the incoming bombs, was akin to a strategic victory, then the region returns to its precarious status quo. If so, headline oil prices don’t need to rally. Instead, the risk will be reflected better via the options market.

    4. Putting aside geopolitics, oil supply and demand fundamentals look healthy. Even the most bearish forecast for oil demand suggests consumption growth in 2024 will match the historical annual average of 1.2 million barrels a day. The bullish forecasts are for much higher growth, in the 1.5-to-1.9 million barrels a day range. On the supply side, a series of glitches have reduced production this year, particularly of US shale oil. As a result, global oil inventories, which typically increase in the first half of the year, have remained unchanged. Unless OPEC+ increases production soon, stockpiles will drop in the second half of the year.

    5. OPEC+ is keeping the market tight. Despite oil prices well above $80, it decided in late March to roll over its first-quarter output cuts into the second quarter. My expectation is that the group will open the taps at its next meeting, scheduled for June 1. In its last monthly oil report, the cartel noted on April 11 that the “robust oil demand outlook for the summer warrants careful market monitoring” – the kind of preparatory language ahead of an output hike.

    6. How OPEC+ increases production would be as important as the hike itself. I expect the group to hike output slowly, leaving its options open. Rather than pre-announcing a series of production increases, it could instead opt to call monthly meetings, keeping the market guessing whether it would add enough crude.

    7. Unless Israel and Iran engage in tit-for-tat attacks that disrupt oil flows, OPEC+ has more than enough spare production capacity to control a price rally. Saudi Arabia, the United Arab Emirates, and Iraq are keeping about 5 million barrels of day out of the market – equal to about 5% of the world’s demand, and more than what Iran itself produces.

    8. Barring a regional war, the biggest oil supply risk is political. President Joe Biden has promised a “diplomatic” response to the Iranian attacks. Since he was inaugurated in 2021, Biden has all but allowed Iran to increase its oil output, relaxing the enforcement of US sanctions on Tehran. In March, Iranian oil output hit a five-year high of 3.25 million barrels a day, up from 2.1 million in January 2021. If Biden resumes enforcing the sanctions, it could tighten the market significantly unless OPEC+ offsets the impact. I’m dubious Biden would take that course of action in an election year.

    9. Russia stands to win. Thanks to a tight oil market, Moscow is already selling its crude at $75 a barrel, well above the Group of Seven cap of $60 a barrel. If Washington enforces sanctions against Iran, it could create space for Russia’s own sanctioned barrels to both win market share and achieve even higher prices. One of the reasons why the White House turned a blind eye to Iranian oil exports is because its priority was to hurt Russia. Higher Iranian production was the unsaid — and unrecognized — cost of that policy. Now Washington needs to reconsider what’s its biggest concern.

    10. The risk that the White House would tap the country’s Strategic Petroleum Reserve later this year has increased notably. Even if half the size it was a decade ago, the stockpile of about 365 million barrels is still a formidable force. Biden can use the cover of rising tension in the Middle East to justify its use and try to push oil prices down toward $80 a barrel if OPEC+ decides it’s happy letting them rise to $99.99, or even beyond.

    All in all, higher crude prices are terrible news for President Biden’s reelection odds as inflation reaccelerates. We explained to readers in early March that the probability was rising that America’s enemies would ‘weaponize crude‘ against the US to trigger the next financial shock.

    Tyler Durden
    Sun, 04/14/2024 – 15:45

  • WHO Official Admits Vaccine Passports May Have Been A Scam
    WHO Official Admits Vaccine Passports May Have Been A Scam

    Authored by Paul D. Thacker via The Disinformation Chronicle (subscribe here),

    The World Health Organization’s Dr. Hanna Nohynek testified in court that she advised her government that vaccine passports were not needed but was ignored, despite explaining that the COVID vaccines did not stop virus transmission and the passports gave a false sense of security. The stunning revelations came to light in a Helsinki courtroom where Finnish citizen Mika Vauhkala is suing after he was denied entry to a café for not having a vaccine passport.

    Dr. Nohynek is chief physician at the Finnish Institute for Health and Welfare and serves as the WHO’s chair of Strategic Group of Experts on immunization. Testifying yesterday, she stated that the Finnish Institute for Health knew by the summer of 2021 that the COVID-19 vaccines did not stop virus transmission

    During that same 2021 time period, the WHO said it was working to “create an international trusted framework” for safe travel while EU members states began rolling out COVID passports. The EU Digital COVID Certificate Regulation passed in July 2021 and more than 2.3 billion certificates were later issued. Visitors to France were banned if they did not have a valid vaccine passport which citizens had to carry to buy food at stores or to use public transport.

    But Dr. Nohynek testified yesterday that her institute advised the Finnish government in late 2021 that COVID passports no longer made sense, yet certificates continued to be required. Finnish journalist Ike Novikoff reported the news yesterday after leaving the Helsinki courtroom where Dr. Nohynek spoke.

    Dr. Nohynek’s admission that the government ignored scientific advice to terminate vaccine passports proved shocking as she is widely embraced in global medical circles. Besides chairing the WHO’s strategic advisory group on immunizations, Dr. Nohynek is one of Finland’s top vaccine advisors and serves on the boards of Vaccines Together and the International Vaccine Institute.

    The EU’s digital COVID-19 certification helped establish the WHO Global Digital Health Certification Network in July 2023. “By using European best practices we contribute to digital health standards and interoperability globally—to the benefit of those most in need,” stated one EU official.

    Finnish citizen Mika Vauhkala created a website discussing his case against Finland’s government where he writes that he launched his lawsuit “to defend basic rights” after he was denied breakfast in December 2021 at a Helsinki café because he did not have a COVID passport even though he was healthy. “The constitution of Finland guarantees that any citizen should not be discriminated against based on health conditions among other things,” Vauhkala states on his website.

    Vauhkala’s lawsuit continued today in Helsinki district court where British cardiologist Dr. Aseem Malhotra will testify that, during the COVID pandemic, some authorities and medical professionals supported unethical, coercive, and misinformed policies such as vaccine mandates and vaccine passports, which undermined informed patient consent and evidence-based medical practice.

    You can read Dr. Malhotra’s testimony here.

    Tyler Durden
    Sun, 04/14/2024 – 15:10

  • Video Evidence Shows Several Iranian Cruise Missiles Scored Direct Hits
    Video Evidence Shows Several Iranian Cruise Missiles Scored Direct Hits

    Both Israel and the US have declared a ‘victory’ in defending against the overnight massive Iranian drone and missile attack, which reportedly saw over 300 projectiles sent toward Israel. Ground anti-air systems were very active, including the Iron Dome, David’s Sling, and Arrow system – the latter intended to thwart long-range missiles. The night skies over Israel were lit up for several hours, with explosions ringing out above various cities, especially Jerusalem.

    US systems were also heavily engaged on behalf of Washington’s closest Middle East ally. The Israel Defense Forces (IDF) also subsequently said its air force fighter jets downed some 170 drones and 30 cruise missiles. A statement further said “All the drones and cruise missiles were downed outside of the country’s airspace by the IAF and its allies, including the United States, United Kingdom, Jordan, France, and others.” 

    However, a few videos are widely circulating which appear to offer proof that at least some of Iran’s ballistic missiles found their way to a ground target, contradicting Israel’s optimistic narrative of almost “all” drones and missiles intercepted.

    The videos purport to show several missiles scoring direct hits on two key Israeli military bases in the south of the country: Nevatim Airbase and Ramon Airbase (locations on map above).

    First, the Nevatim Air Base, which is one of Israel’s largest. The below footage appears to show clusters of munitions raining down above the base – possibly decoy bomblets, before several ballistic missiles make impact on the ground.

    Video of ballistic missiles slamming into the Nevatim Air Base in the south after passing through a swarm of anti-air interceptors:

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    The IDF overnight confirmed a military base in southern Israel was slightly damaged.

    The Hill writes, “Iranian state-run media outlets reported that Ramon air base in southern Israel was struck by seven missiles, while they also reported successful attacks on Nevatim air base, one of the largest in Israel.”

    Second, the Ramon airbase in the Negev desert, where the missiles came in at least two waves…

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    More footage of different angles side-by-side, via Middle East Eye:

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    Regional geopolitical analyst and journalist, Rania Khalek, offers an interesting takeaway from last night’s dramatic events as follows…

    “This is a deterrence win for Iran. Had Israel been taken by surprise and not had the days long preparation to mitigate the impact of an Iranian attack this large, the damage would have been huge. There is no way Israel could have intercepted hundreds of Iranian missiles without a week of its allies putting defenses in place and Iran intentionally taking its time.

    A real war would NOT be telegraphed in advance so Israel can prepare with a symphony of air defenses from its allies. Biden understands the risks posed by further escalation, especially to US forces, which is why he told Netanyahu he will not back an Israeli counterstrike. The equation in the region has changed and Iran did it masterfully and responsibly without igniting the big war.”

    Below, IDF published footage showing fighter jet intercepts of inbound drones and cruise missiles…

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    However, whether there will be a big war or not is yet to be seen, based on how Israel responds. The New York Times has reported that PM Netanyahu backed off launching an immediate military response after a late night phone call with President Biden. But this likely opens the door for Netanyahu to implement his long desired plans to take out what Israel believes are Iranian nuclear sites.

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    Tyler Durden
    Sun, 04/14/2024 – 14:35

  • 'Not Looking For A Significant Escalation' – Israel Threatens Imminent Response To Iranian Attack, Then Walks It Back
    ‘Not Looking For A Significant Escalation’ – Israel Threatens Imminent Response To Iranian Attack, Then Walks It Back

    Summary:

    • Iran sent 170 drones, 120 ballistic missiles and 30 cruise missiles – carrying a combined 60 tonnes of explosive material – into Israel

    • Iran violated Iraqi and Jordanian airpsace

    • Israel and its allies – including the US – shot down 99% of the Iranian munitions

    • The attack caused minor damage to Nevatim air base, in southern Israel, and one young girl from a Bedouin town in the south was hospitalized for severe shrapnel injuries

    • “We intercepted. We thwarted. Together we will win,” Israeli Prime Minister Benjamin Netanyahu posted on X.

    • Israel and its allies reportedly viewed the event as a “win.”

    • The G7 condemned Iran’s “direct and unprecedented attack against Israel” and warning of an “uncontrollable regional escalation.”

    • Iran threatened attacks on US bases in the MidEast if Washgton joins in any counter-offensive.

    • De-escalation – The Israeli war cabinet voted to “exact a price from Iran in a manner and at a time that is right,” but not immediately, according to US officials.

    • “We don’t want to see this escalate,” US National Security Council spokesman John Kirby said, adding that “we’re not looking for a wider war with Iran.”

    *  *  *

    Update (1405ET): A flurry of geopol headlines just hit… 

    Let’s begin with this report from Reuters.

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    And this is from Israeli Channel 14. 

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    Moments after those headlines hit, there was a report from Yeshiva World News’ Moshe Schwartz indicating:

    “An immediate response with strikes within Iran was approved by a clear majority of the Israeli war cabinet but was called off at the last minute following Biden/Netanyahu phone call. The war cabinet still supports the planned response – but not necessarily immediately.” 

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    And these headlines:

    • ISRAEL HAS MADE CLEAR TO US IT IS NOT LOOKING FOR A SIGNIFICANT ESCALATION WITH IRAN -SENIOR US ADMINISTRATION OFFICIAL
    • US HAS BEEN IN CONTACT WITH IRAN VIA SWISS CHANNEL: OFFICIAL

    Meanwhile, earlier, the US declared it would not participate in any counterattack against Iran. 

    “We don’t seek a war with Iran. We’re not looking for escalation here,” White House national security spokesman John Kirby told NBC on Sunday. 

    Even earlier, President Biden discussed the evolving conflict between Iran-Israel in a meeting of the Group of Seven “to coordinate a united diplomatic response to Iran’s brazen attack.”

    Iran told the US earlier today that if it supports Israel’s counterattack, expect its military bases in the Middle East to be attacked with missiles and suicide drones. 

    In markets, Bitcoin instantly responded to the rollercoaster of headlines, initially down 3% but then surging to erase losses. Now moving lower. 

    To sum up, US officials say Israel ‘isn’t looking’ for an escalation with Iran. Maybe Brent >$100/bbl is why… 

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    And if there was any retaliation strike against Iran by Israel, the US would not be joining. 

    *   *   * 

    Update (0700ET): There are mounting concerns that Israel could strike back. If so, Iran warned Washington that US military bases could be in the crosshairs of missiles and suicide drones. 

    “Our response will be much larger than tonight’s military action if Israel retaliates against Iran,” Iran’s armed forces chief of staff, Major General Mohammad Bagheri, told state media, as quoted by The Times of Israel. He said that Tehran warned Washington that any backing of an Israeli retaliation strike would result in US bases being targeted. 

    “If the Zionist regime (Israel) or its supporters demonstrate reckless behavior, they will receive a decisive and much stronger response,” Iran’s president Ebrahim Raisi said in a statement.

    Update(Midnight ET): It is just after 7am Israel local time and Israel’s military is reporting the Iranian attack has stopped, several hours after Iran said its ‘limited’ operation has “concluded” – which involved an unprecedented hundreds of suicide drones as as well as ballistic missiles sent against Israel in retaliation for the April 1st Israeli attack on Iran’s embassy in Damascus. Below is the top story from English-language Times of Israel: 

    Hebrew media reports claim that not a single drone or cruise missile managed to infiltrate Israeli airspace.

    According to the unsourced reports, most ballistic missiles were also knocked down outside of Israeli airspace.

    A report in Ynet says some 20 cruise missiles were downed short of Israel’s borders. The US, UK and Jordan helped take down many of the drones.

    Israel is reporting very little damage inside the country (though previously admitting “minor damage” against at least one key airbase in the south). 

    After the enormous Iranian drone and missile swarm a senior Israeli official has been quoted by Israel’s Channel 12 as saying “Iran’s attack was a strategic failure.” The official added in a threatening manner, “Now they can get ready and not sleep in peace.” Israel’s war cabinet appears to be readying a military response…

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    Crucially, the Biden White House appears to be strongly signaling to the Netanyahu government that the attack is ‘done’ and that the United States will not back any follow-up counterattack operations against Iran:

    US President Joe Biden told Prime Minister Benjamin Netanyahu that the US will not aid any Israeli counterattack on Iran, US media report, citing senior administration officials.

    Axios and CNN report that message was passed during a phone call between the pair.

    Axios reports that Biden told Netyanyahu the US will oppose any Israeli counterattack.

    CNN reports that Biden said the US will not take part in any such counteraction.

      Israel has called on a United Nations Security Council meeting to condemn the Iranian aggression, which is expected to take place late Sunday. The US administration appears to be lobbying for a status quo and for Israel to not mount a strong response. 

      Below is a portion of the Axios report on the Bibi-Biden late night phone call:

      Behind the scenes: Biden told Netanyahu the joint defensive efforts by Israel, the U.S. and other countries in the region led to the failure of the Iranian attack, according to the White House official.

      • “You got a win. Take the win,” Biden told Netanyahu, according to the official.
      • The official said that when Biden told Netanyahu that the U.S. will not participate in any offensive operations against Iran and will not support such operations, Netanyahu said he understood.
      • U.S. Secretary of State Lloyd Austin spoke on Saturday with his Israeli counterpart Yoav Gallant and asked that Israel notify the U.S. ahead of any response against Iran, a senior Israeli official said.

      Meanwhile, Israel’s official channels are filled with ‘fighting words’ like the following:

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      * * * 

      Update(20:00ET): CNN is reporting there have been several explosion on the ground across Israel, but there’s yet to be official confirmation of the extent of casualties. Israeli media is reporting the first as follows: “Medics treating first injury from Iran attack – a 10-year-old boy from Bedouin town near Arad in serious condition.” The IDF spokesman is confirming at least one of its military bases has been hit in the south by an Iranian cruise missile, sustaining “minor damage”. This was reportedly at Dimona, where Israel reportedly has undeclared nuclear weapons, making such a strike highly dangerous. Further Iran’s IRNA is reporting:

      Iran successfully struck the Israeli airbase in the Negev Desert with ‘Khaybar’ ballistic missiles.

      Importantly, Times of Israel is reporting that Israel’s military is preparing a response, in what is likely to become a continuing tit-for-tat in the coming days:

      Israel plans a “significant response” to the unprecedented Iranian drone salvo against it, top-rated Channel 12 TV quotes an unnamed senior Israeli official as saying early on Sunday.

      The IDF has called this new attack a “major escalation”. Over “200 different kinds” of projectiles were fired toward Israel, the IDF spokesman said. For more than the past week Israeli leaders have firmly warned that should Iran launch retaliation from within its own soil, the Israeli response against the Islamic Republic will be ‘stronger’ – as Netanyahu previously put it. That’s precisely what has happened and so a major Israeli response is likely.

      Below: stunning footage over the Temple Mount of Jerusalem as Israeli anti-air highly active:

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      More over Jerusalem:

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      German Foreign Minister Annalena Baerbock has condemned Iran’s attack on Israel, saying it risks plunging the entire region “into chaos.”

      “We condemn the ongoing attack in the strongest possible terms, risking to plunge an entire region into chaos,” Baerbock wrote on X. “Iran and its proxies must stop this immediately. In these hours, we stand firmly by Israel.” However, by and large there was silence from European and NATO leaders when Israel mounted an unprecedented attack on Iran’s embassy in Damascus on April 1st.

      Meanwhile, the US says it is still intercepting inbound drones and missiles. The IDF says it has “numerous” fighter jets in the air right now. Iran has warned Washington not do get involved in the conflict, saying American bases in the region are at risk if it does so.

      An extremely vague Biden statement:

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      Al Jazeera LIVE FEED:

      * * *

      Update(1845): Ballistic missiles are still in the air headed for Israel along with more than 100 drones. Live visuals have shown projectiles falling on Israel. Iran is now very publicly saying the matter has “concluded”:

      IRAN’S UN MISSION: “Iran’s military action was in response to the Zionist regime’s aggression against our diplomatic premises in Damascus. The matter can be deemed concluded. However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the U.S. MUST STAY AWAY!”

      From Israel’s perspective, Iran has now crossed a red line, and Netanyahu is likely to now see himself as having carte blanche to take out Iran nuclear facilities.

      * * *

      Update(1805): Iranian state media has just reported that the elite IRGC has launched its first wave of ballistic and(or) cruise missiles at Israel. Already an estimated hundreds of drones are headed toward Israel. It appears Iran is seeking to overwhelm Israel’s anti-air defense systems. The United States is expected to help Israel intercept this barrage. There are statements from the Houthis saying they have also launched rockets against Israel, and there are fears Hezbollah is about to unleash a barrage too, with early reports saying dozens of Katyusha rockets have already been sent into northern Israel tonight. Unconfirmed reports have said rockets have been launched from Iranian assets in Syria too.

      Below is the IRGC confirmation via PressTV: “In response to the Zionist regime’s numerous crimes, including the attack on the consular section of Iran’s Embassy in Damascus and the martyrdom of a number of our country’s commanders and military advisors in Syria, the IRGC’s Aerospace Division launched tens of missiles and drones against certain targets inside the occupied territories,” the statement read. At this point the question is which will hit first: the slower-moving drones which were launched well over an hour ago, or the ballistic missiles which are likely to take less than 30 minutes to reach their targets.

      The Iranian attack has an official name, and Tehran is warning that the US and foreign countries must ‘stay away’ from the conflict…

      IRAN’S REVOLUTIONARY GUARDS SAYS OPERATION ‘TRUE PROMISE’ IS PART OF PUNISHMENT FOR ISRAELI CRIMES’ – IRANIAN STATE TV

       

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      Already hawks in the US are urging Biden to intervene heavily on the side of Israel…

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      According to an unconfirmed note:

      Al Jazeera citing Channel 12: British fighters participate with American fighters in intercepting Iranian marches in the airspace of Jordan and Syria.

      Geopolitical analyst Max Abrahms writes that “Iran and Israel are now at war. A real, direct war.”

      * * *

      Update(1554ET): Axios correspondent Barak Ravid has cited several US and Israeli officials who say Iran’s attack against Israel has started. It is currently almost 11pm in Israel. It could take hours for the drones to reach Israel, however, the big question remains whether Tehran sends ballistic missiles. Both the IDF and the Biden administration have confirmed that drones are en route to Israeli airspace. Iranian state TV also since confirmed. The White House has said the attack is “likely to unfold over a number of hours.”

      “Iran launches attack against Israel using dozens of drones, four U.S. and Israeli officials told me,” Ravid writes. Airspace across Iran, Iran, Jordan, and Israel has reportedly been shut in the last hours. There are reports citing the Jordanian government saying it stands ready to shoot down any drones that violate its airspace. There are also unconfirmed reports that the Houthis have launched projectiles out of Yemen.

      Airspace shut from Iran to Iraq to Jordan…

      Prime Minister Benjamin Netanyahu issued the following nighttime speech just ahead of the reported attack:

      “Citizens of Israel, in recent years, and even more so in recent weeks, Israel has been preparing for the possibility of a direct attack from Iran,” the premier says in a video statement. “Our defense systems are deployed, and we are prepared for any scenario, both in defense and offense. The State of Israel is strong, the IDF is strong, the public is strong.”

      “We appreciate the US for standing by Israel’s side as well as the support of the UK, France and many other countries.” “I established a clear principle — whoever hurts us, we will hurt them. We will defend ourselves from any threat and we will do so calmly and with determination.”

      “I know that you, the citizens of Israel, are also keeping calm. I urge you to listen to the directives of the Home Front Command.”

      “Together we stand, and with God’s help, together we will overcome all of our enemies,” Netanyahu says.

      Schools in Israel and public gatherings have been closed for the coming days. The IDF is giving the citizenry guidelines about seeking bomb shelters and awaiting instructions.

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      Crypto is crashing on the news…

       

      President Joe Biden has reportedly cut short a beach vacation to head back to the White House where he’s meeting with his national security team, monitoring the attacks, as well as Israel’s defense. It’s as yet unclear if Iran has launched ballistic missiles, following the initial drone salvo. Fox News is reporting that the head of US Central Command, Michael Kurilla, has safely departed Israel.

      Israel’s Home Front command has issued the following emergency notification restricting gatherings across the country in anticipation of inbound Iranian projectiles. There are also “work from home” orders being issued, especially for non-essential government personnel.

      Meanwhile just yesterday…

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      The past days have seen American diplomats in a global push to get countries to hold back Iran from launching a retaliatory attack on Israel for its April 1st embassy attack in Damascus.

      Washington is especially leaning on China, Turkey, and Saudi Arabia in hopes that a united diplomatic front could deescalate the situation, at a moment Israel is bracing for an assault.

      US Secretary of State Anthony Blinken met with several officials over the past week, including Chinese Foreign Minister Wang Yi. “We have also engaged with European allies and partners over the past few days and urged them as well to send a clear message to Iran: that escalation is not in Iran’s interest, it’s not in the region’s interest and it’s not in the world’s interest,” a statement from the State Department indicated.

      Blinken “has been making clear to every country that has any semblance of a relationship with Iran that it is in their interest to use that relationship to send a message to Iran that they should not escalate this conflict. But I will let those countries speak for themselves about what action they may or may not take,” the statement from spokesman Matthew Miller said.

      Miller added that US has also “engaged with European allies and partners over the past few days” to deliver a message urging restraint to Iran. British Foreign Secretary David Cameron and German Foreign Minister Annalena Baerbock have also been engaging the Iranian foreign minister in recent days.

      Blinken’s message to Turkey and Saudi Arabia was that they should “urge Iran not to escalate.” Going into this weekend, it’s being widely reported that a major Iranian attack, possibly including ballistic missiles and drones, remains ‘imminent’. US officials have told media sources that Iran has been observed moving major military assets including missile systems.

      Though Iranian operatives on Saturday morning have seized an Israeli-linked tanker in the Strait of Hormuz, it seems the ‘big attack’ is still on hold for now.

      The Lebanese newspaper Al-Akhbar, suggests there may be a diplomatic way out that avoids full Iranian military retaliation. Iran is “proposing the following: If a ceasefire is reached in Gaza and Israel does not attack the city of Rafah, it is ready, in order to reduce escalation and tension, not to take any action against Israel at the present time,” the newspaper stated.

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      But it’s anything but clear that a leader like Prime Minister Benjamin Netanyahu would be willing to alter his plans to eradicate Hamas based on dictates from Tehran. Currently, the atmosphere seems one of the calm before the storm.

      Tyler Durden
      Sun, 04/14/2024 – 14:05

    • A Reliable Voting Bloc For Decades, Minorities Now Look For Alternatives To Democrats
      A Reliable Voting Bloc For Decades, Minorities Now Look For Alternatives To Democrats

      Authored by Lawrence Wilson via The Epoch Times (emphasis ours),

      Democrats gathered at the state fairgrounds in Columbia, South Carolina, to await the results of their party’s primary election. President Joe Biden, the only candidate to campaign in the state, won handily, as expected.

      (Illustration by The Epoch Times, Getty Images, Shutterstock)

      From the podium, Rep. James Clyburn (D-S.C.), 83, took a call from the chief executive, who thanked South Carolinians for their support. Applause followed, with congratulations all around.

      As the modest crowd dispersed, Mr. Clyburn spoke with the press. The veteran congressman and staunch Biden ally said that the president’s support among black voters remained unshakable.

      “The best illustration of that is that he got 96 percent of the vote in this primary,” Mr. Clyburn said. “But his largest percentage—over 97 percent—was in the town of Orangeburg, where there are two HBCUs [historically black colleges and universities] and a community college.”

      “I go to an African American barbershop,” Mr. Clyburn said. “I go to an African American Church. Joe Biden is as strong with African Americans as he has ever been.”

      Mr. Clyburn’s view defies the findings of several recent polls and contradicts a trend that has been observable for several years. Namely, that Democrats have a problem with black voters, especially men. Hispanic voters, too.

      Over the last eight years, minority voters have slowly but steadily migrated away from associating themselves with the Democratic Party, a movement that appears to be led by men.

      An April poll from The Wall Street Journal shows that 30 percent of black men in battleground states intend to vote for Donald Trump. Hispanic voters who lean Republican are approaching parity with those who lean Democrat.

      In simplest terms, analysts say, it amounts to a classic case of leaders being blind to generational change, taking their constituents for granted, and failing to deliver on the most basic function of government—to create conditions in which people can thrive.

      It is unclear whether Democrats can halt—or at least counter—this decline in minority support before the November election. What is clear is that the demographic composition of both parties is in flux. These shifting political allegiances could significantly impact both the 2024 election and the future of party politics.

      A man holds a ‘Blacks for Trump’ sign as he waits to see Republican presidential nominee Donald Trump at an event in Sterling Heights, Mich., on Nov. 6, 2016. (Jeff Kowalsky/AFP via Getty Images)

      Steady Migration

      Support for the Democratic Party among black and Hispanic voters has been eroding for years.

      The percentage of black voters who “lean Democrat” topped out at near 90 percent in 2008 but fell to 66 percent by 2023, the lowest level yet recorded according to data from Gallup’s annual polling on the subject.

      Meanwhile, the percentage of black voters who “lean Republican” rose from single digits to 19 percent over the same period.

      The percentage of Hispanic voters who “lean Democrat” fell from about 60 percent in 2016 to 47 percent in 2023, while the percentage of those who “lean Republican” rose from about 25 percent to 35 percent.

      A similar shift occurred among Asian-American voters. Some 30 percent of Asian Americans voted Republican in 2020 according to Gallup. That’s up from 18 percent in 2016, according to exit polling. In California, the shift was even more pronounced with 54 percent of Asian American voters favoring Trump in 2020 according to the Asian American Legal Defense and Education Fund.

      “It shows up consistently in survey after survey, and it also shows up in actual electoral results going back to 2016,” Matthew Wilson, a professor at Southern Methodist University, told The Epoch Times.

      “And there’s just real movement and more diversity in the electoral outcomes in [predominantly black and Hispanic precincts] than had been true in the past. So I think Democrats who are inclined to write it off as artificial are engaged in wishful thinking because it shows up in multiple different indicators.”

      And the shift is being driven by multiple factors, observers say, which may vary by ethnic group.

      Supporters cheer President Joe Biden as he speaks during a rally at Florida Memorial University in Miami Gardens, Fla., on Nov. 1, 2022. (Joe Raedle/Getty Images)

      Failure to Improve

      A signal issue that cuts across ethnic lines is the perceived failure of the Biden administration to improve the economic condition of the people.

      “Unfortunately, Biden can’t hide from this economy, and minorities are losing trust in it,” Charlie Kolean of the R.E.D. political action committee told The Epoch Times. “Minorities see that big government is no longer helping them but hurting them.”

      That matches the finding of Whitley Yates, diversity engagement director for the Indiana Republican Party.

      “For the black community in general, they have been lied to consistently. They have been promised things every election cycle and have been used by the Democratic Party to remain in positions of power without any type of progress for those communities,” Ms. Yates told The Epoch Times.

      Black unemployment was low and median household income rising under President Trump, according to Ms. Yates, but President Biden was able to appeal to black voters based on promises of student loan relief and the legalization of marijuana, seen as a criminal justice issue by many black Americans.

      While hundreds of thousands of student loans have been partially paid or forgiven under President Biden, the economic life of many black citizens has worsened. “The way this economy has impacted the black community has been catastrophic. Inflation and the consumer price index have gone up astronomically, which has hurt businesses,” Ms. Yates said. “People began to realize that it was a lot of smoke and mirrors.”

      To some extent, this shift in allegiance plays out along generational lines, at least among black voters, according to Marcurius Byrd, a Democratic organizer from Columbia, South Carolina.

      “Our generation didn’t grow up with the things that a lot of people who lived through the Civil Rights era did,” Mr. Byrd told The Epoch Times. “The Democratic Party has given them more victories within their lifetimes. We haven’t really seen that in the younger generations.”

      For many black voters, the question for Democrats appears to be “What have you done for me lately?”

      “There’s a thirst for someone who’s not going to just talk about what’s wrong, but who is going to produce tangible policies that people can feel,” Ms. Yates said.

      “Biden’s biggest worry is that black voters see him as not delivering on voting rights, responsible for inflation, and failing to stop Israel’s devastation of Gaza.” Donald Nieman, professor of history and provost emeritus at Binghamton University, State University of New York.

      Democrats are also at risk of losing Asian American voters based on economic performance. In a recent AAPI Data/AP-NORC survey, 67 percent of Asian voters said they disagreed with President Biden’s handling of inflation (67 percent), the economy (58 percent), and student debt (54 percent). More than 40 percent of registered Asian voters said inflation was the most important issue in a Gallup survey.

      Read more here…

      Tyler Durden
      Sun, 04/14/2024 – 14:00

    • 'Retaliation Risk' – What Wall Street Thinks Ahead Of Market Open
      ‘Retaliation Risk’ – What Wall Street Thinks Ahead Of Market Open

      The first actual ‘market’ response we have seen to Iran’s attack on Israel is in crypto, which saw – rather intriguingly – a huge puke as the drones/missiles flew, and then some comeback as the impact of the attack seemed marginal at worst (and for now retaliation remains muted)…

      Source: Bloomberg

      But, this afternoon is when things will really heat up as FX and futures markets open, with much riding on whether Iran’s unprecedented weekend strike on Israel triggers rounds of retaliation.

      Amid already frayed nerves from resurrected inflation fears and higher-for-longer rates outlooks, geopolitical risk premia will be forced top of mind.

      “Investors’ natural reaction is to look for safe-haven assets in moments like this,” said Patrick Armstrong, chief investment officer at Plurimi Wealth LLP.

      “Reactions will be somewhat dependent on Israel’s response. If Israel does not escalate from here, it may provide an opportunity to buy risk assets at lower prices.”

      For now, the optimists may be winning as Iran’s statement that “the matter can be deemed concluded” and a report that President Biden told Israeli PM Netanyahu that the US won’t support an Israeli counterattack against Iran, seems to be driving down the odds of a more escalatory retaliation (meaning anything other than a ‘theatrical’ response).

      Bloomberg reports that stock markets in Saudi Arabia and Qatar posted modest losses under thin trading volumes…

      Source: Bloomberg

      …while Israeli stocks fluctuated and ended with a very modest gain.

      Source: Bloomberg

      “Middle Eastern markets opened with relative calm following Iran’s attack, which was perceived as a measured retaliation, rather than an attempt at escalation,” said Emre Akcakmak, a senior consultant at East Capital in Dubai.

      “However, the market impact might extend beyond the Middle East due to secondary effects on oil and energy prices, potentially influencing the global inflation outlook.”

      Worries about turmoil in the region have also been filtering through global markets. The S&P 500 is coming off its biggest weekly decline since October on the back of higher-than-expected inflation and disappointing bank earnings.

      Here’s what investors and analysts are saying (courtesy of Bloomberg):

      Erik Meyersson, chief emerging markets strategist at SEB:

      “Our oil analysts do not see much sign of a geopolitical risk premium in oil prices so far. We expect this to reflect market perceptions of low risks of escalation up until now. This equilibrium is likely to be tested if Iran and Israel continue to attack each other.”

      Gonzalo Lardies, senior equities fund manager at Andbank:

      “A new environment of uncertainty is now opening up, but the market on Friday already partially priced in this situation, so if it does not get worse the impact should not be very high. The risk is if this situation escalates and there is contagion in the region.”

      Alfonso Benito, chief investment officer at Dunas Capital:

      “I wouldn’t expect sharp drops given how Israel has defended its air shield. We should see defense companies up, oil up and gas up, while airlines could decline. Bonds will rise, but I don’t think excessively. Investors could take advantage to partially correct the increases of recent months.”

      Joachim Klement, a strategist at Liberum:

      “The reaction will very much depend on the reaction of Israel today and whether the US can manage to restrain Benjamin Netanyahu.”

      “In the next couple of days, stock markets will focus on the geopolitical situation, rather than central bank action or the strong economy in the US. Hence, we expect the rally to stall until there is more clarity if the situation in Iran-Israel calms down. If we end up in a shooting war between Israel and Iran, then the rally will be stalled for longer.”

      Mark Matthews, strategist at Bank Julius Baer in Singapore:

      “The good thing is that Iran did warn about the attack well beforehand. Military analysts say it was done in a way that minimized casualties. I don’t see why it would cause Fed rate expectations to fall more or it would cause the oil price to go up a lot. Iran is trying to defuse this and so is the US. The key is what Israel’s answer will be, and then Iran’s answer to that. If Israel does a de-escalatory strike, and then the Iranians do an even more de-escalatory strike, then it will be over with.”

      Geoff Yu, senior strategist for EMEA Markets at BNY Mellon in London:

      “There is scope for further accumulation of dollars, even with recent buying after the CPI data. Our clients remain overweight the euro, Canadian dollar and some high-carry currencies such as the Mexican peso, so this is where we would watch for rotation in the greenback’s favor.”

      Neil Shearing, chief economist at Capital Economics in London:

      “Our sense is that events in the Middle East will add to the reasons for the Fed to adopt a more cautious approach to rate cuts, but they won’t prevent it from cutting altogether. We expect the first move in September. And assuming that the energy prices don’t spiral over the next month or so, we think that both the ECB and BOE will cut in June.”

      US equity and bond futures will open at 6 p.m. New York time Sunday; FX markets before that.

      Tyler Durden
      Sun, 04/14/2024 – 13:25

    • Trump: "Everything Biden Touches Turns To $hit"
      Trump: “Everything Biden Touches Turns To $hit”

      Authored by Steve Watson via Modernity.news,

      During a huge rally in Schnecksville, Pennsylvania Saturday night, Donald Trump blasted Joe Biden, reeling off a list of massive failures and urging that “everything he touches turns to shit.”

      Trump was speaking while Iran, which just four years ago was crippled under Trump, but in the past three years has prospered after Biden eased sanctions, decided to launch a full on military attack on Israel.

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      “Before going any further, I want to say God bless the people of Israel,” Trump stated, adding “They’re under attack right now. That’s because we show great weakness.”

      Trump urged that such an attack would never have happened under his watch.

      “America prays for Israel,” he stated, adding “We send our absolute support to everyone in harm’s way. This is an attack that would not have happened. I mean, to think about what we have to go through and the things we put up with, with the border, with no energy independence.”

      Trump vowed to “revive American strength abroad” and “rebuild the greatest economy in the history of the world,” noting that inflation is now “close to four percent again.”

      “First of all, Crooked Joe, he claimed inflation was transitory, remember that? Then he said, ‘oh, it’s temporary’, then he said, ‘it won’t happen, it really won’t happen’,” Trump asserted, adding “And then he said, ‘Well, it’s much higher than expected,’ and then the supply chain slows, and then the energy went through the roof.”

      He continued, “All of America knows that the real blame for this nightmare lies with one person. Crooked Joe Biden,” adding “As crooked as you can get. That’s why the people of Pennsylvania are going to tell crooked Joe, ‘You’re fired get out! You’re fired!’”

      “One of the leading drivers of Biden’s inflation disaster is his war on American energy, and Pennsylvania energy is a big problem,” Trump further iterated, prompting the crowd to break into chants of “Genocide Joe! Genocide Joe! Genocide Joe!”

      “They’re not wrong,” Trump responded, adding “He’s done everything wrong. Think of it, we’ve been in this mess together for three and a half years. Only a little more than six months until that most important day in the history of our country, November 5th. Think of that. But, what has he done that’s good? Nothing. Has anything that he’s done turned out? Everything he touches turns to shit.”

      Trump pointed out that since Biden took office “gasoline prices are up over 50 percent and electricity prices are up 39 percent, rising 13 times faster” than in the previous seven years.

      “When I’m back in the White House, we will end Joe Biden’s inflation train wreck and we will tell Pennsylvania, drill, baby, drill,” Trump promised, adding “Under my leadership, we had energy independence, and soon we would have had energy dominance.”

      The full speech is below:

      In the wake of Iran’s actions yesterday, many on X pointed out exactly how this is another example of Biden’s Midas in reverse touch:

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      Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

      Tyler Durden
      Sun, 04/14/2024 – 12:50

    • Israel's Defense Against Iran Attack Overnight 'Likely Cost Over $1 Billion'
      Israel’s Defense Against Iran Attack Overnight ‘Likely Cost Over $1 Billion’

      Via Middle East Eye

      It cost Israel more than $1bn to activate its defense systems that intercepted Iran’s massive drone and missile attack overnight,  according to a former financial adviser to Israel’s military. 

      “The defence tonight was on the order of 4-5bn shekels [$1-1.3bn] per night,” estimated Brigadier General Reem Aminoach in an interview with Ynet news.

      Iranian Army via AP

      Aminoach highlighted that the staggering price tag stands in contrast to the relatively low amount that Iran had spent to launch its assault, which some estimates have put at less than 10 percent of what it cost Israel to stop the attack. 

      Iran launched more than 300 drones and missiles towards Israel on Saturday, in response to an Israeli attack on its consulate in Syria that killed two senior Revolutionary Guard commanders earlier this month.

      Israel said its military forces and its allies had intercepted 99 percent of the missiles, but some ballistic missiles penetrated Israeli defences and hit the Nevatim Airbase in southern Israel. 

      “If we’re talking about ballistic missiles that need to be brought down with an Arrow system, cruise missiles that need to be brought down with other missiles, and UAVs [unmanned aerial vehicles], which we actually bring down mainly with fighter jets,” he said. 

      “Then add up the costs – $3.5m for an Arrow missile, $1m for a David’s Sling, such and such costs for jets. An order of magnitude of 4-5bn shekels.”

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      David’s Sling is a weapons system meant to intercept medium to long-range rockets and missiles. The Arrow system was designed to thwart long-range missiles, including the types of ballistic missiles Iran launched on Saturday and of long-range missiles launched by the Houthis in Yemen.

      Tyler Durden
      Sun, 04/14/2024 – 11:40

    Digest powered by RSS Digest

    Apr 14

    Today’s News 14th April 2024

    • Biden Tells Bibi: US Will Not Support A Counterattack Against Iran After Hundreds Of Drones, Missiles Sent
      Biden Tells Bibi: US Will Not Support A Counterattack Against Iran After Hundreds Of Drones, Missiles Sent

      Update(Midnight ET): It is just after 7am Israel local time and Israel’s military is reporting the Iranian attack has stopped, several hours after Iran said its ‘limited’ operation has “concluded” – which involved an unprecedented hundreds of suicide drones as as well as ballistic missiles sent against Israel in retaliation for the April 1st Israeli attack on Iran’s embassy in Damascus. Below is the top story from English-language Times of Israel: 

      Hebrew media reports claim that not a single drone or cruise missile managed to infiltrate Israeli airspace.

      According to the unsourced reports, most ballistic missiles were also knocked down outside of Israeli airspace.

      A report in Ynet says some 20 cruise missiles were downed short of Israel’s borders. The US, UK and Jordan helped take down many of the drones.

      Israel is reporting very little damage inside the country (though previously admitting “minor damage” against at least one key airbase in the south). 

      After the enormous Iranian drone and missile swarm a senior Israeli official has been quoted by Israel’s Channel 12 as saying “Iran’s attack was a strategic failure.” The official added in a threatening manner, “Now they can get ready and not sleep in peace.” Israel’s war cabinet appears to be readying a military response…

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      Crucially, the Biden White House appears to be strongly signaling to the Netanyahu government that the attack is ‘done’ and that the United States will not back any follow-up counterattack operations against Iran:

      US President Joe Biden told Prime Minister Benjamin Netanyahu that the US will not aid any Israeli counterattack on Iran, US media report, citing senior administration officials.

      Axios and CNN report that message was passed during a phone call between the pair.

      Axios reports that Biden told Netyanyahu the US will oppose any Israeli counterattack.

      CNN reports that Biden said the US will not take part in any such counteraction.

        Israel has called on a United Nations Security Council meeting to condemn the Iranian aggression, which is expected to take place late Sunday. The US administration appears to be lobbying for a status quo and for Israel to not mount a strong response. 

        Below is a portion of the Axios report on the Bibi-Biden late night phone call:

        Behind the scenes: Biden told Netanyahu the joint defensive efforts by Israel, the U.S. and other countries in the region led to the failure of the Iranian attack, according to the White House official.

        • “You got a win. Take the win,” Biden told Netanyahu, according to the official.
        • The official said that when Biden told Netanyahu that the U.S. will not participate in any offensive operations against Iran and will not support such operations, Netanyahu said he understood.
        • U.S. Secretary of State Lloyd Austin spoke on Saturday with his Israeli counterpart Yoav Gallant and asked that Israel notify the U.S. ahead of any response against Iran, a senior Israeli official said.

        Meanwhile, Israel’s official channels are filled with ‘fighting words’ like the following:

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        Update(20:00ET): CNN is reporting there have been several explosion on the ground across Israel, but there’s yet to be official confirmation of the extent of casualties. Israeli media is reporting the first as follows: “Medics treating first injury from Iran attack – a 10-year-old boy from Bedouin town near Arad in serious condition.” The IDF spokesman is confirming at least one of its military bases has been hit in the south by an Iranian cruise missile, sustaining “minor damage”. This was reportedly at Dimona, where Israel reportedly has undeclared nuclear weapons, making such a strike highly dangerous. Further Iran’s IRNA is reporting:

        Iran successfully struck the Israeli airbase in the Negev Desert with ‘Khaybar’ ballistic missiles.

        Importantly, Times of Israel is reporting that Israel’s military is preparing a response, in what is likely to become a continuing tit-for-tat in the coming days:

        Israel plans a “significant response” to the unprecedented Iranian drone salvo against it, top-rated Channel 12 TV quotes an unnamed senior Israeli official as saying early on Sunday.

        The IDF has called this new attack a “major escalation”. Over “200 different kinds” of projectiles were fired toward Israel, the IDF spokesman said. For more than the past week Israeli leaders have firmly warned that should Iran launch retaliation from within its own soil, the Israeli response against the Islamic Republic will be ‘stronger’ – as Netanyahu previously put it. That’s precisely what has happened and so a major Israeli response is likely.

        Below: stunning footage over the Temple Mount of Jerusalem as Israeli anti-air highly active:

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        More over Jerusalem:

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        German Foreign Minister Annalena Baerbock has condemned Iran’s attack on Israel, saying it risks plunging the entire region “into chaos.”

        “We condemn the ongoing attack in the strongest possible terms, risking to plunge an entire region into chaos,” Baerbock wrote on X. “Iran and its proxies must stop this immediately. In these hours, we stand firmly by Israel.” However, by and large there was silence from European and NATO leaders when Israel mounted an unprecedented attack on Iran’s embassy in Damascus on April 1st.

        Meanwhile, the US says it is still intercepting inbound drones and missiles. The IDF says it has “numerous” fighter jets in the air right now. Iran has warned Washington not do get involved in the conflict, saying American bases in the region are at risk if it does so.

        An extremely vague Biden statement:

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        Al Jazeera LIVE FEED:

        * * *

        Update(1845): Ballistic missiles are still in the air headed for Israel along with more than 100 drones. Live visuals have shown projectiles falling on Israel. Iran is now very publicly saying the matter has “concluded”:

        IRAN’S UN MISSION: “Iran’s military action was in response to the Zionist regime’s aggression against our diplomatic premises in Damascus. The matter can be deemed concluded. However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the U.S. MUST STAY AWAY!”

        From Israel’s perspective, Iran has now crossed a red line, and Netanyahu is likely to now see himself as having carte blanche to take out Iran nuclear facilities.

        * * *

        Update(1805): Iranian state media has just reported that the elite IRGC has launched its first wave of ballistic and(or) cruise missiles at Israel. Already an estimated hundreds of drones are headed toward Israel. It appears Iran is seeking to overwhelm Israel’s anti-air defense systems. The United States is expected to help Israel intercept this barrage. There are statements from the Houthis saying they have also launched rockets against Israel, and there are fears Hezbollah is about to unleash a barrage too, with early reports saying dozens of Katyusha rockets have already been sent into northern Israel tonight. Unconfirmed reports have said rockets have been launched from Iranian assets in Syria too.

        Below is the IRGC confirmation via PressTV: “In response to the Zionist regime’s numerous crimes, including the attack on the consular section of Iran’s Embassy in Damascus and the martyrdom of a number of our country’s commanders and military advisors in Syria, the IRGC’s Aerospace Division launched tens of missiles and drones against certain targets inside the occupied territories,” the statement read. At this point the question is which will hit first: the slower-moving drones which were launched well over an hour ago, or the ballistic missiles which are likely to take less than 30 minutes to reach their targets.

        The Iranian attack has an official name, and Tehran is warning that the US and foreign countries must ‘stay away’ from the conflict…

        IRAN’S REVOLUTIONARY GUARDS SAYS OPERATION ‘TRUE PROMISE’ IS PART OF PUNISHMENT FOR ISRAELI CRIMES’ – IRANIAN STATE TV

         

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        Already hawks in the US are urging Biden to intervene heavily on the side of Israel…

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        According to an unconfirmed note:

        Al Jazeera citing Channel 12: British fighters participate with American fighters in intercepting Iranian marches in the airspace of Jordan and Syria.

        Geopolitical analyst Max Abrahms writes that “Iran and Israel are now at war. A real, direct war.”

        * * *

        Update(1554ET): Axios correspondent Barak Ravid has cited several US and Israeli officials who say Iran’s attack against Israel has started. It is currently almost 11pm in Israel. It could take hours for the drones to reach Israel, however, the big question remains whether Tehran sends ballistic missiles. Both the IDF and the Biden administration have confirmed that drones are en route to Israeli airspace. Iranian state TV also since confirmed. The White House has said the attack is “likely to unfold over a number of hours.”

        “Iran launches attack against Israel using dozens of drones, four U.S. and Israeli officials told me,” Ravid writes. Airspace across Iran, Iran, Jordan, and Israel has reportedly been shut in the last hours. There are reports citing the Jordanian government saying it stands ready to shoot down any drones that violate its airspace. There are also unconfirmed reports that the Houthis have launched projectiles out of Yemen.

        Airspace shut from Iran to Iraq to Jordan…

        Prime Minister Benjamin Netanyahu issued the following nighttime speech just ahead of the reported attack:

        “Citizens of Israel, in recent years, and even more so in recent weeks, Israel has been preparing for the possibility of a direct attack from Iran,” the premier says in a video statement. “Our defense systems are deployed, and we are prepared for any scenario, both in defense and offense. The State of Israel is strong, the IDF is strong, the public is strong.”

        “We appreciate the US for standing by Israel’s side as well as the support of the UK, France and many other countries.” “I established a clear principle — whoever hurts us, we will hurt them. We will defend ourselves from any threat and we will do so calmly and with determination.”

        “I know that you, the citizens of Israel, are also keeping calm. I urge you to listen to the directives of the Home Front Command.”

        “Together we stand, and with God’s help, together we will overcome all of our enemies,” Netanyahu says.

        Schools in Israel and public gatherings have been closed for the coming days. The IDF is giving the citizenry guidelines about seeking bomb shelters and awaiting instructions.

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        Crypto is crashing on the news…

         

        President Joe Biden has reportedly cut short a beach vacation to head back to the White House where he’s meeting with his national security team, monitoring the attacks, as well as Israel’s defense. It’s as yet unclear if Iran has launched ballistic missiles, following the initial drone salvo. Fox News is reporting that the head of US Central Command, Michael Kurilla, has safely departed Israel.

        Israel’s Home Front command has issued the following emergency notification restricting gatherings across the country in anticipation of inbound Iranian projectiles. There are also “work from home” orders being issued, especially for non-essential government personnel.

        Meanwhile just yesterday…

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        * * *

        The past days have seen American diplomats in a global push to get countries to hold back Iran from launching a retaliatory attack on Israel for its April 1st embassy attack in Damascus.

        Washington is especially leaning on China, Turkey, and Saudi Arabia in hopes that a united diplomatic front could deescalate the situation, at a moment Israel is bracing for an assault.

        US Secretary of State Anthony Blinken met with several officials over the past week, including Chinese Foreign Minister Wang Yi. “We have also engaged with European allies and partners over the past few days and urged them as well to send a clear message to Iran: that escalation is not in Iran’s interest, it’s not in the region’s interest and it’s not in the world’s interest,” a statement from the State Department indicated.

        Blinken “has been making clear to every country that has any semblance of a relationship with Iran that it is in their interest to use that relationship to send a message to Iran that they should not escalate this conflict. But I will let those countries speak for themselves about what action they may or may not take,” the statement from spokesman Matthew Miller said.

        Miller added that US has also “engaged with European allies and partners over the past few days” to deliver a message urging restraint to Iran. British Foreign Secretary David Cameron and German Foreign Minister Annalena Baerbock have also been engaging the Iranian foreign minister in recent days.

        Blinken’s message to Turkey and Saudi Arabia was that they should “urge Iran not to escalate.” Going into this weekend, it’s being widely reported that a major Iranian attack, possibly including ballistic missiles and drones, remains ‘imminent’. US officials have told media sources that Iran has been observed moving major military assets including missile systems.

        Though Iranian operatives on Saturday morning have seized an Israeli-linked tanker in the Strait of Hormuz, it seems the ‘big attack’ is still on hold for now.

        The Lebanese newspaper Al-Akhbar, suggests there may be a diplomatic way out that avoids full Iranian military retaliation. Iran is “proposing the following: If a ceasefire is reached in Gaza and Israel does not attack the city of Rafah, it is ready, in order to reduce escalation and tension, not to take any action against Israel at the present time,” the newspaper stated.

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        But it’s anything but clear that a leader like Prime Minister Benjamin Netanyahu would be willing to alter his plans to eradicate Hamas based on dictates from Tehran. Currently, the atmosphere seems one of the calm before the storm.

        Tyler Durden
        Sat, 04/13/2024 – 23:59

      • Illegal Immigration Costs American Households Hundreds Of Billions Annually
        Illegal Immigration Costs American Households Hundreds Of Billions Annually

        Authored by Chadwick Hagan via The Epoch Times,

        Illegal immigration weighs heavily on the wallets of hardworking American taxpayers – to the tune of hundreds of billions of dollars annually.

        Still, the Biden administration turns a blind eye to these fiscal strains, neglecting the toll on our economy, the structural integrity of our nation, and the safety of our citizens.

        Estimates suggest that illegal immigrants cost each household about $1,000, adding up to more than $120 billion a year.

        Sources such as Newsweek hint that the true cost may be even higher, possibly reaching $150 billion annually, an amount shared by both federal and state governments. In all actuality, the financial impact could be much worse.

        The situation continues to deteriorate by the day. Just this past December, Border Patrol recorded 249,785 arrests along the Mexican border, a 31 percent spike from November 2023 and a 13 percent surge from the December 2022 record.

        Since President Joe Biden’s inauguration and the adoption of his open borders approach, more than 7.2 million illegal immigrants have streamed into the United States through the southern border, a number surpassing the population of 36 states.

        Some estimate that number to be nearer to 10 million. The lawlessness makes it impossible to keep an accurate count.

        The repercussions of illegal immigration cast long shadows over various aspects of our society, from heightened crime rates to suppressed wages to the depletion of taxpayer resources. Public services face strain, with illegal immigrants accessing emergency health care, enrolling their children in public schools, and tapping into social welfare programs. Some argue their willingness to accept lower wages drives down earnings, leading to reduced tax revenues and increased reliance on social welfare programs among low-wage workers, citizens, and legal residents alike. Even our property tax is paying for illegal immigrants. This generational problem demands pragmatic consideration and competent leadership.

        To exacerbate matters, if illegal immigrants operate solely within cash transactions, much of their income goes undocumented.

        This is why I advocate for measures such as the Fair Tax Act, which replaces income tax with a consumption tax, ensuring revenue from cash transactions is taxed.

        While proponents argue that illegal immigrants are paying into our tax system, and even our Social Security system, it is hard to tell the difference between fact and fiction.

        According to a 2023 National Bureau of Economic Research paper (Working Paper 31086, “Measuring the Characteristics and Employment Dynamics of U.S. Inventors”), the majority of innovation in America is driven by white and Asian (including Indian) individuals.

        The paper estimates that 96.5 percent of U.S. inventors were white or Asian as of 2016.

        The question remains: Why are we allowing our borders to be overrun by illegal immigrants when we need controlled and tactical immigration to pay into our depleted social systems and kick-start the next wave of innovation?

        Why would the United States prohibit valuable workers from becoming American citizens while on work visas yet entice unskilled and impoverished workers to enter the country and stay illegally?

        These unanswered questions only add fuel to the fires of conspiracy and intrigue.

        Giving priority to visas for highly skilled workers will not only strengthen our domestic initiatives but also stimulate innovation and bolster economic growth. It is beyond puzzling that the United States of America continues to welcome unskilled workers when our nation’s prosperity hinges on innovation and skilled labor. The Democratic Party’s reluctance to use the term “illegal immigrants,” echoed by figures such as Nikki Haley, is equally confusing. As Florida Gov. Ron DeSantis rightly pointed out, coming to this country illegally is illegal.

        We need to fast-track immigrants who are likely to innovate and create wealth instead of prioritizing low-skilled workers.

        It’s time for responsible leadership to step up and implement immigration policies that benefit the United States and the American people.

        Tyler Durden
        Sat, 04/13/2024 – 23:20

      • These Are Asia's Richest Billionaires
        These Are Asia’s Richest Billionaires

        As of the start of April, Mukesh Ambani (66) is the richest man in Asia, with a net worth of $116.1 billion, according to Forbes’ Real-Time Billionaires List,

        Ambani is the chairman of Reliance Industries Limited, a conglomerate that focuses not only on petrochemicals, but also textiles and telecommunications. As Statista’s Anna Fleck reports, Ambani ranks 11th on Forbes’ worldwide list, which is headed by Bernard Arnault & family (LVMH) with $221.8 billion, Jeff Bezos (Amazon) with $197.5 billion and Elon Musk (Tesla, SpaceX, X formerly Twitter) with $189.0 billion.

        Infographic: Asia's Richest Billionaires | Statista

        You will find more infographics at Statista

        In second place – and some 32.8 billion dollars behind – comes 61-year-old Gautam Adani who is the chairperson of the Adani Group, a conglomerate that deals with businesses exporting and importing raw materials and finished goods, including coal trading, mining, oil and gas exploration, as well as ports, energy and agricultural commodities.

        He is succeeded by Zhong Shanshan (69), with a net worth of $64.5 billion. Shanshan is the founder of beverages company Nongfu Spring as well as the founder of Beijing Wantai Biological Pharmacy Enterprise, a private Chinese company and major supplier of Covid-19 testing kits.

        Rounding off the top ten comes Savitri Jindal (74), the widow of Om Prakash Jindal who founded the Jindal Group in India, whose interests lay in steel, power, cement and infrastructure, with an estimated net worth of $34.8 billion, followed by Shiv Nadar (78), founder and chairman of the IT enterprise HCL Technologies, with $34.5 billion.

        The top ten richest people in Asia have a total net worth of $542.1 billion.

        Tyler Durden
        Sat, 04/13/2024 – 22:45

      • Snopes Changed Fact-Check After Pressure From Biden Administration: Emails
        Snopes Changed Fact-Check After Pressure From Biden Administration: Emails

        Authored by Zachary Stieber via The Epoch Times,

        The fact-checking website Snopes changed one of its ratings after pressure from President Joe Biden’s administration, newly disclosed emails show.

        Snopes on Jan. 10, 2023, said that there was some truth to a claim that President Biden’s administration was planning to ban gas stoves.

        Under a heading of “what’s true,” Snopes said that “The U.S. Consumer Product Safety Commission (CPSC), a federal agency, is currently considering a ban on gas stoves if they can’t be made safer, due to concerns over harmful indoor pollutants that cause health and respiratory problems.”

        Under another heading, it said that the ban has not been put in place.

        The article quoted Richard Trumka Jr., a CPSC commissioner, as saying that “any option is on the table” when dealing with gas stoves. “Products that can’t be made safe can be banned,” Mr. Trumka told Bloomberg a few days prior.

        Pamela Rucker Springs, a spokeswoman for the CPSC, hours after the rating was published contacted Snopes writer Nur Ibrahim, the newly disclosed emails show.

        She said she it was “not accurate to say that CPSC is ‘considering a ban on gas stoves’ and that Mr. Trumka’s views ”do not represent official statements on behalf of the commission.”

        “We would appreciate a correction to this story,” Ms. Springs said.

        Mr. Ibrahim responded the following day saying Snopes would “correct the article.”

        Snopes then changed the fact-check rating from “mixture” to “false.”

        The CPSC “is not currently considering a ban on gas stoves, though a commissioner said ‘anything is on the table’ if they can’t be made safer,” the updated article states.

        Ms. Springs sent a link to the updated page to White House official Michael Kikukawa, the newly disclosed documents show. “Sent over tough letter to this writer yesterday when the initial claim was rated as ’mixed,’” she wrote.

        “Nice!! So helpful going forward,” Mr. Kikukawa responded.

        Mr. Kikuwaka told Ms. Springs in another email that the White House would be circulating a statement “making clear POTUS does not support banning gas stoves” and sharing social media posts from the commission and Mr. Trumka. “Will also be pushing people your way,” he wrote.

        The emails were obtained by the Functional Government Initiative nonprofit through the Freedom of Information Act.

        “A commissioner appointed by President Biden wanted to ban gas stoves, and he got caught, provoking a public outcry. So, the CPSC staff leaned on Snopes, seeking to counter the narrative by splitting hairs about commission processes. And the White House finds this ‘helpful.’ Helpful with what?“ Pete McGinnis, spokesman for the nonprofit, said in a statement.

        ”This goes beyond dysfunction—the government using sympathetic media to censor inconvenient news. The American people deserve both to keep their gas stoves and to know the truth about what regulations government officials are considering.”

        Snopes did not respond to a request for comment.

        Closer to Ban

        The CPSC framed the possibility of banning stoves as solely on Mr. Trumka, issuing a statement from Alexander Hoehn-Saric.

        The chairman of the commission said, “I am not looking to ban gas stoves and the CPSC has no proceeding to do so.”

        At the same time, CPSC officials acknowledged that they were investigating emissions from gas stoves and were “exploring new ways to address any health risks.”

        Mr. Trumka said in an internal memorandum reviewed by The Epoch Times that there was “sufficient information” for the commission to issue a notice of a proposed rule “proposing to ban gas stoves in homes.” He told Peter Feldman, another commissioner, that “emerging evidence” showed that “gas stoves in homes emit toxic gases that cause illnesses and that lower-cost, safer alternatives are available.” The Committee to Unleash Prosperity, which obtained the memo, said that it proved the administration ”intended to ban gas stoves.”

        The CPSC later approved a final notice of rulemaking offered by Mr. Trumka asking for “proposed solutions” to “hazards” from gas stoves.

        That notice has not appeared to have resulted in a new rule as of yet.

        Separately, the U.S. Department of Energy issued a proposed rule that would ban about half of the gas stoves on the market. When the final rule was released in January, though, it had been watered down and only affected about three percent of gas stoves.

        Tyler Durden
        Sat, 04/13/2024 – 22:10

      • Investors Bet On Further Rise In US Gasoline Prices
        Investors Bet On Further Rise In US Gasoline Prices

        By John Kemp, senior energy analyst at Reuters

        Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months.

        U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in the run up to presidential and congressional elections in November.

        Relatively low inventories, employment gains, strong household income growth and the prospect of an active hurricane season are expected to keep gasoline consumption high and inventories under pressure.

        Ukraine’s drone attacks on refineries in Russia threaten to tighten the international supply situation even further and have prompted the Biden administration to warn Ukraine’s government to change its targeting.

        BUOYANT CONSUMPTION

        U.S. gasoline consumption is correlated with employment and household incomes so the current rise in nonfarm jobs and wage rates are likely to underpin strong use in 2024.

        Domestic consumption has been trending structurally lower since 2007 as a result of improvements in fuel economy, ethanol blending and more recently the deployment of electric and hybrid vehicles. But lower domestic use has been more than offset by strong growth in exports, mostly to Mexico and other countries in Latin America, which has kept overall refinery production trending higher.

        Strong domestic consumption during the peak summer driving season is likely to cause inventories to tighten cyclically and exert upward pressure on prices in 2024.

        ACTIVE HURRICANE SEASON

        Nearly half of the total refinery capacity in the U.S. is located along the Gulf of Mexico on the coasts of Texas and Louisiana.

        Every year there is a small but non-zero chance refinery processing will be disrupted by a direct hit from a major hurricane.

        The North Atlantic hurricane season lasts from June through November with activity peaking in August and September (“Tropical cyclone climatology”, U.S. National Oceanic and Atmospheric Administration, 2024).

        The precise number of storms, their intensity and the location of landfalls is highly variable and notoriously difficult to predict months in advance.

        But the expected shift from El Nino to La Nina conditions underway in the central and eastern Pacific is often associated with an increased number and intensity of hurricanes in the Atlantic (“Impacts of El Nino and La Nina on the hurricane season,” NOAA, 2014).

        At the same time, Atlantic storm creation and intensity is strongly correlated with sea surface temperatures in the Caribbean and the tropical North Atlantic.

        Tropical storm formation requires sea surface temperatures of at least 26°C, among a number of other conditions (“Cyclogenesis”, Australian Bureau of Meteorology, 2017).

        Sea surface temperatures in the tropical North Atlantic were at a record seasonal high in March 2024, according to data from the U.S. Climate Prediction Centre.

        Sea surface temperatures surged higher around the world, including a very strong warm El Nino phenomenon in the Pacific, but the exceptional warming was most pronounced in the Atlantic.

        Surface temperatures in the Atlantic from 5° to 20° North and from 30° to 60° West averaged almost 27.1°C in March, which was more than 1.5°C above the long-term seasonal average.

        If the surface warmth persists into the second and third quarters it is likely to result in an above average number of tropical storms and more major hurricanes in 2024 and an elevated threat to the Gulf Coast refineries.

        Colorado State University researchers have predicted an “extremely active” hurricane season in 2024 (“Forecast for 2024 hurricane activity,” CSU, April 4, 2024).

        The number of named tropical storms and hurricanes is expected to be more than 50% higher than the long-term average.

        BULLISH POSITION

        Hedge funds and other money managers owned bullish long positions equivalent to 99 million barrels on April 2, the highest number for more than four years.

        After adjusting for a minority of bearish short positions, the net position was 84 million barrels, which was in the 88th percentile for all weeks since 2013.

        Fund managers were more bullish on gasoline than on crude (56th percentile) or middle distillates such as diesel and gas oil (53rd percentile).

        Bullish long positions in gasoline outnumbered bearish short ones by a ratio of more than 6.4:1 (68th percentile) on April 2.

        The long-short ratio suggests positioning is less stretched than the absolute number of long positions, but there is still downside risk to prices when long positions are unwound.

        LOW INVENTORIES

        On April 5, U.S. gasoline inventories were 5 million barrels (-2% or -0.42 standard deviations) below the prior ten-year seasonal average.

        Stocks had been as much as 7 million barrels (+3% or +0.75 standard deviations) above seasonal average in late January.

        But a site-wide power failure stopped BP’s massive refinery at Whiting, Indiana, lasting for more than a month from the start of February and resulted in a sharp depletion of stocks.

        Since the refinery restarted in March, the deficit has narrowed slightly, but inventories remain below normal for the time of year, putting upward pressure on prices.

        EVEN HIGHER PRICES?

        U.S. retail gasoline prices (including taxes) averaged $3.54 per gallon in March 2024, almost exactly in line with the average since the start of the century once inflation is taken into account.

        Inflation-adjusted prices have risen from a recent low of $3.22 in January 2024 but are still well below the recent high of $5.42 in June 2022 after Russia’s invasion of Ukraine.

        Fund managers are betting heavily that gasoline prices will rise further over the remainder of the year.

        From a purely positioning perspective, the large number of bullish long positions that must eventually be liquidated has itself created downside risk to prices.

        From a fundamental perspective, however, low inventories, strong consumption, threat to Russia’s refineries, and elevated hurricane risk to U.S. refineries are all sources of upside potential.

        Tyler Durden
        Sat, 04/13/2024 – 21:35

      • Trump Suggests Offering Aid To Ukraine In The Form Of A Loan
        Trump Suggests Offering Aid To Ukraine In The Form Of A Loan

        Authored by Aldgra Fredly via The Epoch Times,

        Former President Donald Trump has suggested that he would support Republicans approving Ukraine aid in the form of a loan, but that Europe must “equalize” its efforts to help Ukraine in its war against Russia.

        During a press conference at his Mar-a-Lago residence with House Speaker Mike Johnson (R-La.), President Trump said they are “thinking about making it in the form of a loan instead of just a gift.”

        “We keep handing out gifts of billions and billions of dollars, and we’ll take a look at it,” the former president said.

        “But much more importantly to me is the fact that Europe has to step up, and they have to give money. They have to equalize. If they don’t equalize I’m very upset about it, because they’re affected much more than we are.”

        President Trump has been skeptical of Washington’s support for Ukraine in its war against Russia and said that he would bring the fighting to an end within 24 hours if he were to return to the White House.

        The former president has previously called on the U.S. government to stop sending money in the form of foreign aid to any country “unless it is done as a loan.”

        Mr. Johnson, who was also present during the press conference, has delayed for months a House vote on legislation already passed by the Democratic-led Senate providing $60 billion in aid for Ukraine.

        Ukraine’s President Volodymyr Zelenskyy attends a press conference during the “Ukraine Year 2024” forum in Kyiv, Ukraine, on Feb. 25, 2024. (Sergei Supinsky/AFP via Getty Images)

        Ukraine Willing to Accept US Aid in Loan

        Meanwhile, Ukrainian President Volodymyr Zelenskyy told a local broadcaster last week that his government would be open to accepting U.S. aid in the form of loan if that is the only option left.

        “You know, a senator was here recently, and he asked me: would you agree to take the loan money? I said, ‘What are the options?’ He said, ‘Well, if, for example, they tell you that the money is a loan or you won’t get it.’ I said, ‘What’s the point of such an election if there is no choice?’

        “Let’s be honest: we will agree to any option. I’ll tell you more: if Ukraine was offered a package on credit today or free of charge in a year, we would say: only today. There is no choice here. Our only choice is to survive and win. We are trying to do this in different ways. This is about the loan. Important: the sooner the better,” he said.

        But Mr. Zelenskyy said he remains optimistic in getting “a positive vote” from the U.S. Congress.

        “Unfortunately, we are a bit hostage to this situation. Unfortunately, the issue of Ukraine, namely the issue of Russia’s war against Ukraine, has become a domestic political issue in the United States today. Although this is the security of the whole world,” he remarked.

        Ukraine Aid Package in Progress

        Mr. Johnson told Fox News on March 31 that legislation to provide additional aid for Ukraine is being drafted in the House and will be brought to the floor when members return from their current recess.

        “When it comes to the supplemental, we’ve been working to build that consensus. We’ve been talking to all the members, especially now over the district work period. When we return after this work period, we’ll be moving a product, but it’s going to, I think, have some important innovations,” he said.

        Mr. Johnson has been supportive of continued aid for Ukraine but has also stressed the importance of securing the United States’s own borders first.

        When the Senate passed legislation that included funding for both Ukraine and immigration enforcement, he led the opposition in the House on the grounds that the bill heavily prioritized Ukraine and offered no significant border policy reforms.

        As of yet, there has been no agreement reached on the crisis at the U.S.–Mexico border. While President Joe Biden and Democrats say additional funding is needed to stop the historic surge of illegal immigrants into the United States, Republicans hold that the president already possesses the funds and authority to fix the problem.

        Tyler Durden
        Sat, 04/13/2024 – 21:00

      • Watch: Non-English Speaking Military-Aged Venezuelan Male Attempts To Rob Bank In Ohio Using Translator App
        Watch: Non-English Speaking Military-Aged Venezuelan Male Attempts To Rob Bank In Ohio Using Translator App

        President Biden’s disastrous open southern border policies have sparked a migrant crime wave. This comes amid the ten million plus illegal aliens that have invaded the nation through the collapsed southern border, alongside recent calls from radical progressive lawmakers across crime-ridden metro areas to defund the police and limit criminal prosecution. All of this is a perfect storm of crime and chaos heading into the summer months. 

        According to Bloomberg data, the story count featuring “migrant crime” has surged from only a handful of headlines to hundreds in the last 3.5 months. 

        Some of these headlines include Chilean crime gangs roaming the nation on a burglary spree, targeting wealthy neighborhoods from coast to coast. Some migrants have even taken to social media to inform others about seizing homes from Americans under progressive squatting laws. Others run amuck in progressive metro areas where Soros-backed district attorneys fail to prosecute some criminals. 

        The latest instance of the migrant invasion and escalating crime wave was a 20-year-old illegal alien from Venezuela who attempted to rob a bank in Sandusky, Ohio. 

        On April 4, Sandusky Police were called to the West Perkins Avenue bank for a ‘suspicious man loitering’, according to local media outlet Sandusky Register. 

        “While en route to the bank, officers received additional information that Yeixon Brito-Gonzalez, who only spoke Spanish, was asking tellers to put money in a white trash bag,” the paper said. 

        Video released of the attempted robbery shows the illegal alien using a translator app on a smartphone to instruct the teller to load a trash bag full of cash. 

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        Here’s more from the Sandusky Register: 

        In speaking with bank personnel, officers learned that Brito-Gonzalez had attempted to get behind the bank counter and then sat in a chair.

        He purportedly showed a teller his phone several times with messages translated into English from Spanish. The messages directed the teller to get money and place it in a white trash bag Briton-Gonzalez had with him.

        Officers later located Brito-Gonzalez in the 1300 block of E. Parish St. They learned he only spoke Spanish so they called in an officer who is fluent in that language, the report states.

        It was discovered that he had a white trash bag in his possession. He also voluntarily showed officers his phone, and they found a translation application on it, according to Sandusky police Chief Jared Oliver.

        Brito-Gonzalez was arrested based upon statements he made as well as witness statements, however officers were unable to positively identify him at the time due to his not having any identification documents.

        He was ordered held at Erie County Jail under a no-bond order. Officers were later able to identify him through the use of an FBI fingerprint database, Oliver said.

        As of late Friday, Brito-Gonzalez is still incarcerated in Erie County Jail under a no-bond order. In addition to his charges from the attempted robbery, US Border Patrol is actively involved in this case as well.

        This incident serves as a reminder for every law-abiding American that some military-aged migrants who were unvetted and flooded this nation are escalating their rampage across the country.

        Let’s not forget.

        And Biden’s migrant invasion continues to spiral out of control. 

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        The migrant crisis the White House helped create is a public safety risk – already killing Americans. Yet, the White House ignores. 

        Tyler Durden
        Sat, 04/13/2024 – 20:25

      • The Hidden Cost Of Progressivism, Part I
        The Hidden Cost Of Progressivism, Part I

        Authored by David Parker via The Epoch Times,

        With the U.S. Constitution, the Founding Fathers created a nation of maximum individual freedom, maximum individual responsibility, limited government, and classical liberalism. Having fled anti-democratic European aristocracy, privileged class structure, and limited opportunity, American colonists did not want government in their lives. The Founding Fathers believed that Adam Smith was correct when he said individuals independently pursuing their self-interest to survive naturally organize society. Without government planning, it was the invisible hand of nature.

        In 1933, America flipped that vision. To progressives, freedom now meant freedom with government. President Franklin Roosevelt turned government from a neutral third party, whose sole purpose is to protect life, liberty, and property, to government as an active third party, whose sole purpose is to provide life, liberty, and property. This is the nation we have today, where all citizens (to some degree) are dependent on government.

        That reversal comes with a cost: the hidden cost of progressivism.

        Every individual or family earning $50,000 per year is, today, paying a hidden tax of at least $28,100 per year over and above federal and state income tax.

        Examples:

        1. Government has so regulated the market for health care that the market no longer exists. American health insurance today is not insurance; it’s prepaid health care—that’s why it costs two to three times what it should, two to three times what it costs anywhere else in the world. With health insurance in the United States automatically paying for most procedures, citizens no longer bargain over price. To nothing else in life are they so indifferent. Citizens in New Jersey, for instance, are indifferent to the fact that the price of health insurance in Pennsylvania is three times less. In complete violation of interstate commerce, progressive federal law forbids citizens from purchasing health insurance across state lines. Before Medicare, the cost of health insurance was $200 per month (in 2022 dollars), $50 per month for a young person—the price of auto insurance, property insurance on a $1 million home, or life insurance. Today, it’s $600 per month, provided your employer contributes an additional $800 to $1,000. The employer doesn’t care; it’s a tax write-off. Eliminate government from health care, and the price of health insurance will drop by 66 percent. Ask your employer to give you what he’s paying on your behalf. It’s your money. $800 per month times 12 is $9,600 per year. Hidden tax one.

        2. Social Security takes 15 percent of your income. You pay 7.5 percent, and your employer pays 7.5 percent, but it’s money your employer would otherwise have given you. Fifteen percent, however, is more than is necessary. Properly invested, 10 percent is sufficient. That 5 percent differential on $50,000 is $2,500 per year. Hidden tax two. (That 10 percent of $50,000, $5,000, when invested at 5 percent annual interest compounded monthly, in 40 years is worth $658,194. In 50 years, $1,147,283.)

        3. In 1964, President Lyndon Johnson said unequivocally that there would be no increase in taxes for the War on Poverty. A gullible nation now knows that, to date, that “war” has cost $23 trillion; that the poverty rate, 15 percent in 1964, on average, remained 15 percent; and that today, the war is paid for by borrowing. Roughly $900 billion per year (15 percent of the federal budget) divided by 150 million taxpayers is $6,000 per person. Hidden tax three.

        4. Until 1890, schools were private. Parents who couldn’t afford to send their children were provided the means—from property taxes. Thank you, Thomas Jefferson. But then progressives amalgamated them into today’s government-administered unified school districts—except that once a huge enterprise becomes a government project, it’s open to rent-seeking and politicization. This allowed political pressure in the 1970s to force public schools to try to create equal outcomes for all students—which they found was impossible without lowering standards, which is why middle-class parents pulled their children and sent them to private schools at a cost of $20,000 to $40,000 per year per child. If just one child per family attends private school at $20,000 per year ($10,000 per parent), over and above the property taxes the family already pays (even if they are tenants), that’s hidden tax four.

        Hidden Taxes Per Year

        So if we add up the above hidden taxes, it looks like this: $9,600 plus $2,500 plus $6,000 plus $10,000 equals $28,100.

        Actually, there’s much more. Any serious constraint on business causes businesses to raise prices, a hidden tax. Domestic farm subsidies and tariffs on foreign goods raise prices. A hidden tax.

        Solution: Reverse all federal legislation since 1933.

        Social Security, Medicare, everything—except legislation that reinforces civil rights and national defense. Remove government from the economy, and the federal income tax rate will drop to 15 percent.

        Let citizens keep that $28,100 per year! Universal basic income.

        In a Jeffersonian democracy, where no citizen is denied the vote, it’s understood that citizens can and do think for themselves.

        We’re not living in Plato’s Republic, an island of progressivism, where the nation’s most capable, its aristocracy, are in power. Dictatorship. In Plato’s Republic, the masses didn’t vote.

        Arguments for Doing Nothing

        The wealthy do not object to high income taxes; they’re not paying! Let the middle class continue to pay!

        Large corporations do not object to regulation and monitoring by government. They can afford the millions of dollars in legal fees to comply—Sarbanes-Oxley, Dodd-Frank—then buy up the smaller firms that cannot. Monopoly. Let them continue to do that! The corporations that survive create the efficient corporate state: Bismarck, Mussolini, Hitler, China. National socialism!

        For U.S. prosperity, all that’s necessary is that the United States has less regulation than elsewhere in the world. That would give the United States an enormous competitive advantage. Let governments worldwide tax and regulate business, forcing them to increase prices, and prices in the United States will be lower. U.S. manufacturing and exports will rise.

        Let the United States offer more social, political, and economic freedom than elsewhere in the world, and it will continue to attract the world’s most independent and entrepreneurial talent – what enabled the United States to go to the moon in 1969 (German scientists), what today keeps the United States at the forefront of high technology, information technology, and quantum computing (71 percent of those in Silicon Valley are foreign-born). With American public schools being the lowest achieving in the industrialized world, with foreign students outscoring American students on the SAT and enrolling in U.S. universities, let smart immigrants continue to arrive.

        The U.S. has nothing to worry about…

        *  *  *

        Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

        Tyler Durden
        Sat, 04/13/2024 – 19:50

      • The Exodus Continues: Blue Regions Still Bleeding As Residents Escape Democrat Policies
        The Exodus Continues: Blue Regions Still Bleeding As Residents Escape Democrat Policies

        Can Democrats take a hint?  The answer is obviously no, but with millions of people flooding out of Democrat controlled places and relocating to more conservative regions one might think they would finally get the message.

        Blue cities and states across the US have been experiencing a mass exodus of legal residents since before the pandemic event; many of them business owners taking their money (and job opportunities) with them.  The hardest hit states in the country include New York, Illinois and California, with cities like NYC, LA, Chicago and San Francisco seeing some of the most aggressive population shift.  In states like California the standard operating procedure has been to lie about the situation, using the surge of illegal immigrants to hide population loss in the census.   

        There are a multitude of reasons for the great American migration:  The pandemic lockdowns made many people realize Democrats are inclined towards authoritarian policies and they left because they wanted freedom. Sanctuary status is allowing illegals to flood into blue areas, straining welfare programs and inflating housing costs.  The bureaucracy of leftist cities creates a concrete barrier to success for most small to medium business owners, and even larger companies and chains are ready to exit because of high taxes and over-regulation.  Finally, soft prosecution laws in blue states and cities have led to a clear spike in criminal activity which Democrats are also trying to deny.

        It’s estimated by Zillow’s chief economist that establishing a residency in California would require around $1 million or more in starting money.  The state has the second highest cost of living in the nation, as well as the worst reported job growth in the nation in 2023.  Property prices are exploding higher, but with fewer and fewer buyers.  This is probably why California has been dead last on the list of most desirable states to move to for the past few years running.   

        No one wants to be left holding the bag in a state or city where it’s becoming impossible to leave.  For people with the money, relocation is a no-brainer.  

        Another factor which is going mostly ignored by the establishment media is the rising trend of political disassociation.  The left has become so extreme in their views and behavior that the rest of the populace doesn’t want to deal with them anymore.  Conservatives and independents are rushing for the exits to get as far away from these people as possible.

        Contrary to popular fears among conservatives, the exodus has not pushed voting numbers towards progressive politicians or policies in the slightest.  In fact, Idaho has reported a considerable influx of conservative voters moving in after escaping blue states.  Similar reports are coming out of Texas and Florida.  There is no blue tide.  There is no California takeover – Red states are only turning more red.

        Are progressives moving out of the cities, too?  Yes, to the suburbs and to outlying towns within driving distances of their original homes.  It’s getting to the point where even leftists are admitting their own cities are not livable. The latest U-Haul data helps to explain the developments more clearly.

        The exodus is now having visible effects on Democrat havens that can no longer be hidden.  Crime activity is so suffocating that many corporate chains are leaving, only to be threatened by city politicians with legal reprisals if they shut down.  If Democrats can’t trick people into staying, they plan to force people to stay.     

        Tyler Durden
        Sat, 04/13/2024 – 19:15

      • CDC Study Doesn't 'Debunk' Link Between COVID-19 Vaccines & Sudden-Deaths
        CDC Study Doesn’t ‘Debunk’ Link Between COVID-19 Vaccines & Sudden-Deaths

        Authored by Zachary Stieber via The Epoch Times,

        A new U.S. Centers for Disease Control and Prevention (CDC) study does not disprove a link between COVID-19 vaccines and sudden deaths among young people, contrary to claims.

         

        The study, published by the CDC’s quasi-journal on April 11, analyzed death certificates from Oregon for people aged 16 to 30 who died between June 2021 and December 2022.

        Among people who died with evidence of vaccination, three died within 100 days of a shot, Drs. Juventila Liko and Paul Cieslak with the Oregon Health Authority found.

        None of those three deaths could be attributed to messenger RNA (mRNA) vaccination, or shots from Pfizer-BioNTech and Moderna, according to the doctors. Two of the deaths were attributed to underlying conditions while the cause of death for the third was “undetermined.”

        “These data do not support an association between receipt of mRNA COVID-19 vaccine and sudden cardiac death among previously healthy young persons,” the doctors wrote.

        The authors failed to note that a much larger, peer-reviewed study from South Korea confirmed vaccine-induced myocarditis caused eight sudden cardiac deaths (SCDs), all among people younger than 45. Myocarditis is a form of heart inflammation.

        The new study “is at odds with a higher quality and peer-reviewed journal article published in the European Heart Journal,” Dr. David McCune, who was not involved with either paper, told The Epoch Times via email. “The study, from Korea, found a small but significant group of patients who had SCD and autopsy evidence consistent with vaccine-induced myocarditis.”

        Multiple media outlets published stories on the new study, but none mentioned the South Korean article.

        The stories also included false or misleading claims.

        U.S. News and World Report’s story said that it was an “incorrect idea that COVID-19 vaccines are linked to death in young people.”

        NBC’s article said that the study “debunks widespread misinformation that the mRNA shots were connected to sudden cardiac death in young athletes.”

        NBC reporter Berkeley Lovelace Jr. also wrote that “there is no evidence that COVID vaccines cause fatal cardiac arrest or other deadly heart problems in teens and young adults, a CDC report finds.”

        “I don’t think that is close to an accurate assessment of the CDC paper or the overall level of knowledge we have about vaccine risk,” Dr. McCune said.

        The reporters who wrote the articles for U.S. News and World Report, NBC, The Hill, and Medpage Today did not respond to requests for comment.

        Other papers that support a link between deaths among young people and COVID-19 vaccination include a study that analyzed post-vaccination deaths in Qatar and determined there was a “high probability” that eight sudden cardiac deaths, including one person aged 11 to 20, were caused by the vaccination. Some death certificates have also described COVID-19 vaccine-induced myocarditis as a cause of death for sudden deaths, including the certificate for an American college student who died suddenly after receiving a Pfizer shot.

        Authorities in the United States acknowledge that the COVID-19 vaccines can cause myocarditis but maintain no deaths have been caused by vaccine-induced myocarditis. They have refused to release autopsies conducted on people who died after COVID-19 vaccination. Several long-term studies have identified heart scarring in people who suffered myocarditis after COVID-19 vaccination. Some experts say the scarring may be permanent and could eventually lead to death.

        Dr. Ofer Levy, an adviser to the U.S. Food and Drug Administration, told NBC that no vaccine has ever been conclusively linked to sudden cardiac death and that the new study “adds to evidence that people don’t drop dead from getting their mRNA COVID vaccines.” Dr. Levy did not respond when asked whether he was aware of the South Korean paper and other literature.

        NBC also quoted Dr. Leslie Cooper in promoting the study while failing to note that Dr. Cooper is a consultant for Moderna.

        Authors Respond

        Asked why they didn’t mention literature that presents evidence of sudden cardiac death among previously healthy young people after vaccination, the authors told The Epoch Times in an email that they had. The studies they included are an Israeli paper that does not mention sudden death; a letter that noted sudden deaths among athletes, regardless of vaccination status, since the vaccines were rolled out; an analysis of 911 calls from Israel; and a case definition for myocarditis that says it can be a cause of sudden death. None of the papers cite autopsy data or other strong evidence that has emerged.

        The authors also linked to a 2021 CDC statement and a 2021 CDC presentation, neither of which mention sudden death.

        The authors did not say whether they were unaware of the South Korean study or chose not to include it.

        The CDC should “not have published their study without acknowledging the international studies that have identified post-mRNA vax-related cardiac death in young people,” Dr. Tracy Hoeg, who was not involved in the research, wrote on the social media platform X.

        In the paper, the authors also cited an earlier CDC study that found people who entered a health system were at higher risk of cardiac complications after COVID-19 infection versus after COVID-19 vaccination. The relevance isn’t clear since the COVID-19 vaccines do not prevent infection, and some other studies have found that the risk of myocarditis is higher after vaccination among young people.

        Asked why they didn’t cite any of those other studies, the authors referred back to the papers they did cite and said they “also clearly expressed the limitations in the research.”

        Limitations of the paper include the small population size, which would make it “less likely” for Oregon to record “a rare event such as sudden cardiac death among adolescents and young adults,” the authors wrote in the study.

        “Nevertheless, it is clear that the risk, if any, of cardiac death linked to COVID-19 vaccination is very low, while the risk of dying from COVID-19 is real,” Dr. Cieslak said in a press release issued by the Oregon Health Authority. “We continue to recommend COVID-19 vaccination for all persons 6 months of age and older to prevent COVID-19 and complications, including death.”

        The authority didn’t list any data that show the currently available vaccines prevent COVID-19 complications such as death. U.S. regulators cleared them in 2023 without clinical trial efficacy data. Only animal testing data was available for the Pfizer-BioNTech and Novavax shots. Moderna presented antibody data from 50 humans. Observational studies have since provided mixed effectiveness data against infection and hospitalization.

        CDC Journal

        The CDC published the study in its journal, Morbidity and Mortality Weekly Report (MMWR), which only publishes papers after officials shape them to align with the agency’s messaging. The CDC has been relentlessly promotive of the COVID-19 vaccines since they were rolled out.

        Previous releases of documents under the Freedom of Information Act (FOIA) show that CDC officials engage in multiple rounds of editing of papers published in the journal.

        The authors of the new paper acknowledged that the paper was edited prior to publication.

        “CDC made no edits that altered the conclusions of the study,” they said.

        The CDC journal’s editor-in-chief did not respond to a query.

        The Epoch Times has filed FOIA requests to ascertain which edits were made, and by whom.

        The authors also defended the choice to submit the paper to MMWR, rather than a traditional journal.

        “Many times there is a large amount of observational data that is critical for time-sensitive reporting to inform public health practitioners and clinicians. These sorts of time-sensitive publications that might impact the actions of state and county public health leaders have long been published in the CDC’s MMWR,” they said. “In fact, there are numerous examples of CDC’s MMWR being the first source of information during many important historical events, including the beginning of the AIDS pandemic, the discovery of Legionnaires disease, the initial cases of H1N1 in 2009.”

        Tyler Durden
        Sat, 04/13/2024 – 18:40

      • Afghan Migrant On Terror List Released By Immigration Judge, Free To Roam USA
        Afghan Migrant On Terror List Released By Immigration Judge, Free To Roam USA

        An Afghan man and illegal immigrant who’s on the FBI terror watchlist has been twice apprehended in the United States only to be released by a federal apparatus that continues to make a mockery of the very notion of “border security.”  

        Mohammad Kharwin, 48, was first arrested in Southern California in March 2023 after he’d illegally entered the United States from Mexico, according to NBC News, which was first to report the story. Border police suspected Kharwin was on the watchlist, because one unspecified attribute matched his entry on the list.

        Masses of migrants camped in San Ysidro, California in 2023. Mohammed Kharwin was initially processed in the same vicinity. (7SanDiego)

        However, for lack of additional corroborating data, he was processed and released, just like hordes of other illegal migrants before and since. He was instructed to periodically call an Immigration and Customs Enforcement (ICE) officer, but was free to apply for asylum and permission to work in the United States. He was also free to board domestic flights.  

        This February, the FBI alerted ICE that they suspected Kharwin had links to a terrorist group and could pose a danger. That prompted ICE to track him down in San Antonio and arrest him on Feb. 28. 

        Buckle in, because the story’s about to get a lot worse. On March 28, Kharwin had an immigration hearing in Pearsall, Texas. The ICE prosecutors told the judge that Kharwin was a flight risk who should be detained without bond. However, they didn’t tell the judge that he posed a potential risk to national security, and declined to show the judge information revealing why the FBI is concerned about him. 

        Homeland Security Secretary Alejandro Mayorkas was impeached by the House in February over his border performance (Bill Clark/CQ Roll Call)

        Kept in the dark, the unnamed immigration judge ordered that Kharwin be released, but demanded an above-average-for-illegal-immigrants $12,000 bond. Kharwin immediately paid it and off he went, without any court-mandated restrictions on his travel within the country. He is supposed to appear for another hearing next spring. ICE hasn’t appealed the ruling and, in NBC‘s reporting, there’s no indication authorities are seeking him. 

        According to the watchlist, the FBI believes Kharwin is a member of an Afghanistan group called Hezb-e-Islami (HIG), which has been designated by the United States as a terror group. 

        According to the Office of the Director of National Intelligence, HIG is a “virulently anti-Western insurgent group” that sought to overturn the Western-backed Afghan government before its fall in 2021. 

        HIG was responsible for attacks in Afghanistan that killed at least nine American soldiers and civilians between 2013 and 2015. The group is not seen as a top threat in terms of attacks inside the U.S.

        Believe it or not, there are some 1.8 million names on the FBI’s terror watchlist, and, as has been observed in the colossal rolling clusterf**k at Guantanamo Bay, the US government sometimes misidentifies people — with positively godawful results. That said, the FBI could well be correct about Kharwin, and the handling of his March immigration hearing is certainly a cause for concern. 

        Migrants near Eagle Pass, Texas await processing in December 2023 (John Moore/Getty Images via Fox10)

        There have been similar cases where watchlisted men have been processed and released. In February, we detailed the case of a man who allegedly is/was a member of the Somali terror group al-Shabaab. He was also caught in southern California in March 2023 and set free to roam the country.  

        In 2023 the Border Patrol caught 172 suspects from the terror watchlist attempting to enter the US illegally. According to former DHS officials, the constant deluge of illegal migrants through the southern border has made it easier for bad actors to enter the country. According to NBC‘s analysis of government data, about 0.02% of encountered illegal immigrants are on the terror watchlist — making them needles in a Biden-enlarged haystack. 

        Tyler Durden
        Sat, 04/13/2024 – 18:05

      • 'Surprising' Intensity Of Houthi Attacks Push French Warship To Exit Red Sea
        ‘Surprising’ Intensity Of Houthi Attacks Push French Warship To Exit Red Sea

        Via The Cradle

        France’s Aquitaine-class FREMM frigate Alsace has turned tail from the Red Sea after running out of missiles and munitions repelling attacks from the Yemeni armed forces, according to its commander, Jerome Henry.

        “We didn’t necessarily expect this level of threat. There was an uninhibited violence that was quite surprising and very significant. [The Yemenis] do not hesitate to use drones that fly at water level, to explode them on commercial ships, and to fire ballistic missiles,” Henry told French news outlet Le Figaro in an exclusive interview published on 11 April.

        “We had to carry out at least half a dozen assistances following [Yemeni] strikes,” he added. The commander of the Alsace also revealed that, after a 71-day deployment, all combat equipment was depleted.

        “From the Aster missile to the 7.62 machine gun of the helicopter, including the 12.7mm, 20mm, or 76mm cannon, we dealt with three ballistic missiles and half a dozen drones,” Henry adds.

        According to the French commander, the Franco–Italian Aster missile – each carrying a price tag of up to $2 million – “was pushed to its limits” by the Yemeni armed forces, as the Alsace had to use it “on targets that we did not necessarily imagine at the start.”

        Henry added that Sanaa has markedly increased its use of ballistic missiles after relying mainly on suicide drones at the start of Yemen’s pro-Palestine operations in the Red Sea and stressed that the French Navy has not faced such a tough battle since NATO collectively launched its 2011 war on Libya to depose the late ruler Muammar Gaddafi.

        “I was there too. It wasn’t the same thing. It has been even longer since we have engaged with this level of weaponry and violence. The threat to the boat was much greater in the Red Sea,” Henry notes.

        The Alsace entered the Red Sea in late January, a few weeks after the US and the UK launched an illegal war on Yemen to protect Israeli shipping interests. The frigate was deployed as part of the EU naval operation Aspides – Greek for shield.

        With a mandate initially set for one year, Aspides saw the deployment of several EU warships and airborne early warning systems to the Red Sea, the Gulf of Aden, and surrounding waters. According to authorities in Brussels, the mission is exclusively defensive, and its forces are not taking part in US-led attacks against Yemen.

        Aspides came together after several NATO members proved hesitant or outright refused to join the floundering Operation Prosperity Guardian (OPG), which a top US commander called one of the largest battles the navy has fought since the end of World War II.

        “We favor a diplomatic solution. We know that there is no military solution,” US Special Envoy for Yemen Timothy Lenderking said earlier this month, acknowledging the futility of Washington’s military strategy against the Arab world’s poorest country.

        According to Yemeni sources who spoke with The Cradle, US officials recently offered Sanaa “an acknowledgment of its legitimacy” in exchange for its neutrality in the ongoing war on Gaza.

        https://platform.twitter.com/widgets.js

        “[Washington] pledged to repair the damages, remove foreign forces from all occupied Yemeni lands and islands, and remove Ansarallah from the State Department’s ‘terrorism list’ – as soon as they stop their attacks in support of Gaza,” The Cradle columnist Khalil Nasrallah cited the sources as saying.

        The offer also includes “severely reducing” the role of the Saudi-appointed Presidential Leadership Council (PLC) and “accelerating the signing of a roadmap” with the Saudi-led coalition to end the nine-year war that has decimated Yemen.

        Nevertheless, Yemeni officials have maintained that their operations in the Red Sea, Gulf of Aden, and the Indian Ocean will continue until Israel stops the genocide of Palestinians in Gaza. “From the coast of the Red Sea or from outside it, we can achieve the goals we want in defense of our country and support of Palestine … We still have many military surprises, and there are military operations that we are keeping secret as part of a specific media strategy,” Mohammad Ali al-Houthi, a senior member of Yemen’s Supreme Political Council, announced on April 3.

        Tyler Durden
        Sat, 04/13/2024 – 17:30

      • USAF Conducts B-52 Bomber Exercise With 'Unarmed' Nuclear Cruise Missiles
        USAF Conducts B-52 Bomber Exercise With ‘Unarmed’ Nuclear Cruise Missiles

        Hans Kristensen, a nuclear weapons expert at the Federation of American Scientists, posted on X that the United States Air Force conducted a “nuclear exercise with B-52 bombers” at Minot Air Force Base in North Dakota this past week. This exercise coincides with a week of soaring tensions in the Middle East. 

        Airmen from the 5th Bomb Wing at Minot AFB and the 2nd Bomb Wing at Barksdale AFB (located in Louisiana) participated in Exercise Prairie Vigilance at the air base in North Dakota between April 6 and 12. 

        Prairie Vigilance is considered a “routine training mission that enhances the safety, security, and reliability of the bomber leg of the US nuclear triad,” the service wrote in a press release published on the Defense Visual Information Distribution Service website. 

        The service continued, “Exercises like Prairie Vigilance enable crews to maintain a high state of readiness and proficiency, while validating the always-ready, global strike capability,” adding, “Team Minot Airmen focus on the safe and secure handling of assets comprising the nuclear triad in order to stay proficient in a variety of key operational skills.” 

        Kristensen said this is the third such exercise in six months. He posted images of unarmed nuclear AGM-86B cruise missiles being rolled out to the staging area to be loaded on at least one Boeing B-52 Stratofortress. 

        https://platform.twitter.com/widgets.js

        The exercise with unarmed nuclear cruise missiles comes as the White House warned on Friday about the Iranians launching an imminent attack on Israel. 

        Late Friday evening, former NATO Supreme Allied Commander Wesley Clark told CNBC that a “direct strike on Israel” by the Iranians could force the Israeli Air Force to target “nuclear assets” in the country. 

        https://platform.twitter.com/widgets.js

        Meanwhile, the F-35A Lightning II stealth jet became operationally certified to be equipped with B61-12 thermonuclear gravity bombs last month. Impeccable timing… 

        Tyler Durden
        Sat, 04/13/2024 – 16:55

      • How Did Satoshi Think Of Bitcoin?
        How Did Satoshi Think Of Bitcoin?

        Authored by Unchained CSO Dhruv Bansal via BitcoinMagazine.com,

        Bitcoin is often compared to the internet in the 1990s, but I believe the better analogy is to the telegraph in the 1840s.

        The telegraph was the first technology to transmit encoded data at near-light speed over long distances. It marked the birth of the telecommunications industry. The internet, though it is bigger in scale, richer in content, and manyto-many instead of one-to-one, is fundamentally still a telecommunications technology.

        Both the telegraph and the internet rely upon business models in which companies deploy capital to build a physical network and then charge users to send messages through this network. AT&T’s network has historically transmitted telegrams, telephone calls, TCP/IP packets, text messages, and now TikToks.

        The transformation of society through telecom has led to greater freedoms but also greater centralization. The internet has increased the reach of millions of content creators and small businesses, but has also strengthened the grasp of companies, governments and other institutions well-positioned enough to monitor and manipulate online activity.

        But bitcoin is not the end of any transformation – it’s the beginning of one. Like telecommunications, bitcoin will change both human society and daily life. Predicting the full scope of this change today is akin to imagining the internet while living in the era of the telegraph.

        This series attempts to imagine this future by starting with the past. This initial article traces the history of digital currencies before bitcoin. Only by understanding where prior projects fell short can we perceive what makes bitcoin succeed—and how it suggests a methodology for building the decentralized systems of the future.

        OUTLINE

        I. Decentralized systems are markets

        II. Decentralized markets require decentralized goods

        III. How can decentralized systems price computations?

        IV. Satoshi’s monetary policy goals led to bitcoin

        V. Conclusion

        A central claim of this article is that bitcoin can be thought of as an adaptation of Dai’s b-money project that eliminates the freedom to create money. Just weeks after this article was originally published, new emails surfaced in which Satoshi claimed to be unfamiliar with b-money, yet admitted that bitcoin starts “from exactly that point.” In light of this new evidence, we believe this central claim, while not historically accurate, is still a meaningful and helpful way to think about the origin of bitcoin. 

        Unchained is the Official Collaborative Custody Partner of Bitcoin Magazine. Click here to learn more about Unchained’s bitcoin financial services and receive exclusive discounts on Unchained vault, Signature and IRA.

        HOW DID SATOSHI THINK OF BITCOIN?

        Satoshi was brilliant, but bitcoin didn’t come out of nowhere.

        Bitcoin iterated on existing work in cryptography, distributed systems, economics, and political philosophy. The concept of proof-of-work existed long before its use in money and prior cypherpunks such as Nick Szabo, Wei Dai, & Hal Finney anticipated and influenced the design of bitcoin with projects such as bit gold, b-money, and RPOW. Consider that, by 2008, when Satoshi wrote the bitcoin white paper,[2] many of the ideas important to bitcoin had already been proposed and/or implemented:

        • Digital currencies should be P2P networks

        • Proof-of-work is the basis of money creation

        • Money is created through an auction

        • Public key cryptography is used to define ownership & transfer of coins

        • Transactions are batched into blocks

        • Blocks are chained together through proof-of-work

        • All blocks are stored by all participants

        Bitcoin leverages all these concepts, but Satoshi didn’t originate any of them. To better understand Satoshi’s contribution, we should determine which principles of bitcoin are missing from the list.

        Some obvious candidates are the finite supply of bitcoin, Nakamoto consensus, and the difficulty adjustment algorithm. But what led Satoshi to these ideas in the first place?

        This article explores the history of digital currencies and makes the case that Satoshi’s focus on sound monetary policy is what led bitcoin to surmount challenges that defeated prior projects such as bit gold and b-money.

        I. DECENTRALIZED SYSTEMS ARE MARKETS 

        Bitcoin is often described as a decentralized or distributed system. Unfortunately, the words “decentralized” and “distributed” are frequently confused. When applied to digital systems, both terms refer to ways a monolithic application can be decomposed into a network of communicating pieces.

        For our purposes, the major difference between decentralized and distributed systems is not the topology of their network diagrams, but the way they enforce rules. We take some time in the following section to compare distributed and decentralized systems and motivate the idea that robust decentralized systems are markets.

        DISTRIBUTED SYSTEMS RELY UPON CENTRAL AUTHORITIES

        In this work, we take “distributed” to mean any system that has been broken up into many parts (often referred to as “nodes”) which must communicate, typically over a network.

        Software engineers have grown adept at building globally distributed systems. The internet is composed of distributed systems collectively containing billions of nodes. We each have a node in our pocket that both participates in and relies upon these systems.

        But almost all the distributed systems we use today are governed by some central authority, typically a system administrator, company, or government that is mutually trusted by all nodes in the system.

        Central authorities ensure all nodes adhere to the system s rules and remove, repair, or punish nodes that fail to do so. They are trusted to provide coordination, resolve conflicts, and allocate shared resources. Over time, central authorities manage changes to the system, upgrading it or adding features, and ensuring that participating nodes comply with the changes.

        The benefits a distributed system gains from relying upon a central authority come with costs. While the system is robust against failures of its nodes, a failure of its central authority may cause it to stop functioning overall. The ability for the central authority to unilaterally make decisions means that subverting or eliminating the central authority is sufficient to control or destroy the entire system.

        Despite these trade-offs, if there is a requirement that a single party or coalition must retain central authority, or if the participants within the system are content with relying upon a central authority, then a traditional distributed system is the best solution. No blockchain, token, or similar decentralized dressing is required.

        In particular, the case of a VC- or government-backed cryptocurrency, with requirements that a single party can monitor or restrict payments and freeze accounts, is the perfect use case for a traditional distributed system.

        DECENTRALIZED SYSTEMS HAVE NO CENTRAL AUTHORITIES 

        We take “decentralized” to have a stronger meaning than “distributed”: decentralized systems are a subset of distributed systems that lack any central authority. A close synonym for “decentralized” is “peer-to-peer” (P2P). 

        Removing central authority confers several advantages. Decentralized systems:

        • Grow quickly because they lack barriers to entry—anyone can grow the system by simply running a new node, and there is no requirement for registration or approval from the central authority.

        • Are robust because there is no central authority whose failure can compromise the functioning of the system. All nodes are the same, so failures are local and the network routes around damage.

        • Are difficult to capture, regulate, tax, or surveil because they lack centralized points of control for governments to subvert.

        These strengths are why Satoshi chose a decentralized, peer-to-peer design for bitcoin:

        “Governments are good at cutting off the heads of… centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.” – Nakamoto, 2008

        But these strengths come with corresponding weaknesses. Decentralized systems can be less efficient as each node must additionally bear responsibilities for coordination previously assumed by the central authority.

        Decentralized systems are also plagued by scammy, adversarial behavior. Despite Satoshi’s nod to Gnutella, anyone who’s used a P2P file sharing program to download a file that turned out to be something gross or malicious understands the reasons that P2P file sharing never became the mainstream model for data transfer online.

        Satoshi didn’t name it explicitly, but email is another decentralized system that has evaded government controls. And email is similarly notorious for spam.

        DECENTRALIZED SYSTEMS ARE GOVERNED THROUGH INCENTIVES

        The root problem, in all of these cases, is that adversarial behavior (seeding bad files, sending spam emails) is not punished, and cooperative behavior (seeding good files, only sending useful emails) is not rewarded. Decentralized systems that rely upon their participants to be good actors fail to scale because they cannot prevent bad actors from also participating.

        Without imposing a central authority, the only way to solve this problem is to use economic incentives. Good actors, by definition, play by the rules because they’re inherently motivated to do so. Bad actors are, by definition, selfish and adversarial, but proper economic incentives can redirect their bad behavior towards the common good. Decentralized systems that scale do so by ensuring that cooperative behavior is profitable and adversarial behavior is costly.

        The best way to implement robust decentralized services is to create markets where all actors, both good and bad, are paid to provide that service. The lack of barriers to entry for buyers and sellers in a decentralized market encourages scale and efficiency. If the market’s protocols can protect participants from fraud, theft, and abuse, then bad actors will find it more profitable to either play by the rules or go attack a different system.

        II. DECENTRALIZED MARKETS REQUIRE DECENTRALIZED GOODS 

        But markets are complex. They must provide buyers and sellers the ability to post bids & asks as well as discover, match and settle orders. They must be fair, provide strong consistency, and maintain availability despite periods of volatility.

        Global markets today are extremely capable and sophisticated, but using traditional goods and payment networks to implement incentives in a decentralized market is a nonstarter. Any coupling between a decentralized system and fiat money, traditional assets, or physical commodities would reintroduce dependencies on the central authorities that control payment processors, banks, & exchanges.

        Decentralized systems cannot transfer cash, look up the balance of a brokerage account, or determine the ownership of property. Traditional goods are completely illegible from within a decentralized system. The inverse is not true—traditional systems can interact with bitcoin as easily as any other actor (once they decide they want to). The boundary between traditional and decentralized systems is not an impassable wall, but a semi-permeable membrane.

        This means that decentralized systems cannot execute payments denominated in any traditional good. They cannot even determine the balances of fiat-dominated accounts or the ownership of real estate or physical goods. The entire traditional economy is completely illegible from within decentralized systems.

        Creating decentralized markets requires trading new kinds of decentralized goods which are legible and transferable within decentralized systems.

        COMPUTATION IS THE FIRST DECENTRALIZED GOOD

        The first example of a “decentralized good” is a special class of computations first proposed in 1993 by Cynthia Dwork and Moni Naor.[3]

        Because of deep connections between mathematics, physics, and computer science, these computations cost real-world energy and hardware resources—they cannot be faked. Since real-world resources are scarce, these computations are also scarce.

        The input for these computations can be any kind of data. The resulting output is a digital “proof” that the computations were performed on the given input data. Proofs contain a given “difficulty” which is (statistical) evidence of a given amount of computational work. Most importantly, the relationship between the input data, the proof, and the original computational work performed can be independently verified without appeal to any central authority.

        The idea of passing around some input data along with a digital proof as evidence of real-world computational work performed on that input is now called “proof-of-work”.[4] Proofs-of-work are, to use Nick Szabo’s phrase, “unforgeable costliness”. Because proofs-of-work are verifiable by anyone, they are economic resources that are legible to all participants in a decentralized system. Proofs-of-work turn computations on data into decentralized goods. Dwork & Naor proposed using computations to limit the abuse of a shared resource by forcing participants to provide proofsof-work with a certain minimum difficulty before they can access the resource:

        “In this paper we suggest a computational approach to combatting the proliferation of electronic mail. More generally, we have designed an access control mechanism that can be used whenever it is desirable to restrain, but not prohibit, access to a resource.” – Dwoak & Naor, 1993

        In Dwork & Naor’s proposal, an email system administrator would set a minimum proof-of-work difficulty for delivering email. Users wanting to send email would need to perform a corresponding number of computations with that email as the input data. The resulting proof would be submitted to the server alongside any request to deliver the email.

        Dwork & Naor referred to the difficulty of a proofof-work as a “pricing function” because, by adjusting the difficulty, a “pricing authority” could ensure that the shared resource remained cheap to use for honest, average users but expensive for users seeking to exploit it. In the email delivery market, server administrators are the pricing authorities; they must choose a “price” for email delivery which is low enough for normal usage but too high for spam.

        Though Dwork & Naor framed proofs-of-work as an economic disincentive to combat resource abuse, the nomenclature “pricing function” and “pricing authority” supports a different, marketbased interpretation: users are purchasing access to a resource in exchange for computations at a price set by the resource’s controller.

        In this interpretation, an email delivery network is really a decentralized market trading email delivery for computations. The minimum difficulty of a proof-of-work is the asking price for email delivery denominated in the currency of computations.

        CURRENCY IS THE SECOND DECENTRALIZED GOOD 

        But computations aren’t a good currency.

        The proofs used to “trade” computations are only valid for the input used in those computations. This unbreakable lilnk between a specific proof and a specific input means that the proof-of-work for one input can’t be reused for a different input.

        Proof-of-work was originally proposed as an access control mechanism for limiting spam emails. Users would be expected to provide proofs-of-work alongside any emails they wanted to send. This mechanism can also be thought of as a market where users are purchasing email deliveries with computations at a price chosen by the email service provider.

        This constraint is useful – it can be used to prevent the work done by one buyer in the market from being re-spent by another. For example, HashCash, the first real implementation of the market for email delivery, included metadata such as the current timestamp and the sender’s email address in the input data to its proof-of-work computations. Proofs produced by a given user for a given email can’t be respent for sending a different email.

        But this also means that proof-of-work computations are bespoke goods. They aren’t fungible, they can’t be re-spent,[5] and they don’t solve the coincidence-of-wants problem. These missing monetary properties prevent computations from being currency. Despite the name, there is no incentive for an email delivery provider to want to accumulate HashCash, as there would be for actual cash.

        Adam Back, inventor of HashCash, understood these problems:

        “hashcash is not directly transferable because to make it distributed, each service provider accepts payment only in cash created for them. You could perhaps setup a digicash style mint (with chaumian ecash) and have the bank only mint cash on receipt of hash collisions addressed to it. However this means you’ve got to trust the bank not to mint unlimited amounts of money for it’s own use.” – Adam Back, 1997

        We don’t want to exchange bespoke computations for every individual good or service sold in a decentralized economy. We want a general purpose digital currency that can directly be used to coordinate exchanges of value in any market.

        Building a functioning digital currency while remaining decentralized is a significant challenge. A currency requires fungible units of equal value that can be transferred among users. This requires issuance models, cryptographic definitions of ownership and transfer, a discovery and settlement process for transactions, and a historical ledger. None of this infrastructure is required when proof-of-work is thought of as a mere “access control mechanism”.

        Moreover, decentralized systems are markets, so all these basic functions of a currency must somehow be provided through paying service providers…in the units of the currency that’s being created!

        Like compiling the first compiler, a black start of the electrical grid, or the evolution of life itself, the creators of digital currencies were confronted with a bootstrapping problem: how to define the economic incentives that underlie a functioning currency without having a functioning currency in which to denominate or pay those incentives.

        Computations and currency are the first and second goods in decentralized markets. Proof-of-work alone allows for the exchange of computations but a functioning currency requires more infrastructure. It took 15 years for the cypherpunk community to develop that infrastructure.

        THE FIRST DECENTRALIZED MARKET MUST TRADE COMPUTATIONS FOR CURRENCY

        Progress on this bootstrapping problem comes from properly framing its constraints.

        Decentralized systems must be markets. Markets consist of buyers and sellers exchanging goods. The decentralized market for a digital currency only has two goods that are legible within it:

        1. Computations through proof-of-work

        2. Units of the currency we’re trying to build

        The only market trade possible must therefore be between these two goods. Computations must be sold for units of currency orF equivalentlyF units of currency must be sold for computations. Stating this is easy—the hard part is structuring this market so that simply exchanging currency for computation bootstraps all the capabilities of the currency itself!

        The entire history of digital currencies culminating in Satoshi’s 2008 white paperF was a series of increasingly sophisticated attempts at structuring this market. The following section reviews projects such as Nick Szabo’s bit gold and Wei Dai’s b-money. Understanding how these projects structured their marketsF and why they failed will help us frame why Satoshi and bitcoin succeeded.

        III. HOW CAN DECENTRALIZED SYSTEMS PRICE COMPUTATIONS?

        A major function of markets is price discovery. A market trading computations for currency must therefore discover the price of computation itself, as denominated in units of that currency.

        We don’t typically assign monetary value to computations. We typically value the capacity to perform computations because we value the output of computations, not the computations themselves. If the same output can be performed more efficiently, with fewer computations, that is usually called “progress”.

        Proofs-of-work represent specific computations whose only output is proof that they were performed. Producing the same proof by performing fewer computations and less work wouldn’t be progress—it would be a bug. The computations associated with proofs-of-work are thus a strange and novel good to attempt to value.

        When proofs-of-work are thought of as disincentives against resource abuse, it is not necessary to value them precisely or consistently. All that matters is that the email service provider sets difficulties low enough to be unnoticeable for legitimate users yet high enough to be prohibitive for spammers. There is thus a broad range of acceptable “prices” and each participant acts as their own pricing authority, applying a local pricing function.

        But units of a currency are meant to be fungible, each having the same value. Due to changes in technology over time, two units of currency created with the same proof-of-work difficulty— as measured by the number of corresponding computations—may have radically different realworld costs of production, as measured by the time, energy, and/or capital to perform those computations . When computations are sold for currency, and the underlying cost of production is variable, how can the market ensure a consistent price?

        Nick Szabo clearly identified this pricing problem when describing bit gold:

        “The main problem…is that proof of work schemes depend on computer architecture, not just an abstract mathematics based on an abstract “compute cycle.” …Thus, it might be possible to be a very low cost producer (by several orders of magnitude) and swamp the market with bit gold.” – Szabo, 2005

        A decentralized currency created through proof-of-work will experience supply gluts and crashes as the supply of computations changes over time. To accommodate this volatility, the network must learn to dynamically price computations.

        Early digital currencies attempted to price computations by attempting to collectively measure the “cost of computing”. Wei Dai, for example, proposes the following hand-wavy solution in b-money:

        ‘The number of monetary units created is equal to the cost of the computing effort in terms of a standard basket of commodities. For example if a problem takes 100 hours to solve on the computer that solves it most economically, and it takes 3 standard baskets to purchase 100 hours of computing time on that computer on the open market, then upon the broadcast of the solution to that problem everyone credits the broadcaster’s account by 3 units.” – Dai, 1998

        Unfortunately, Dai does not explain how users in a supposedly decentralized system are supposed to agree upon the definition of a “standard basket”, which computer solves a given problem “most economically”, or the cost of computation on the “open market”. Achieving consensus among all users about a time-varying shared dataset is the essential problem of decentralized systems!

        To be fair to Dai, he realized this:

        “One of the more problematic parts in the b-money protocol is money creation. This part of the protocol requires that all [users] decide and agree on the cost of particular computations. Unfortunately because computing technology tends to advance rapidly and not always publicly, this information may be unavailable, inaccurate, or outdated, all of which would cause serious problems for the protocol.” – Dai, 1998

        Dai would go on to propose a more sophisticated auction-based pricing mechanism which Satoshi would later say was the starting point for his ideas. We will return to this auction scheme below, but first let’s turn to bit gold, and consider Szabo’s insights into the problem.

        USE EXTERNAL MARKETS

        Szabo claims that proofs-of-work should be “securely timestamped”:

        “The proof of work is securely timestamped. This should work in a distributed fashion, with several different timestamp services so that no particular timestamp service need be substantially relied on.” – Szabo, 2005

        Szabo links to a page of resources on secure timestamping protocols but does not describe any specific algorithm for secure timestamping. The phrases “securely” and “distributed fashion” are carrying a lot of weight here, hand-waving through the complexities of relying upon one (or many) “outside the system” services for timestamping.[6]

        The time a unit of digital currency was created is important because it links the computations performed to real-world production cost.

        Regardless of implementation fuzziness, Szabo was right—the time a proof-of-work was created is an important factor in pricing it because it is related to the cost of computation:

        “…However, since bit gold is timestamped, the time created as well as the mathematical difficulty of the work can be automatically proven. From this, it can usually be inferred what the cost of producing during that time period was…” – Szabo, 2005

        “Inferring” the cost of production is important because bit gold has no mechanism to limit the creation of money. Anyone can create bit gold by performing the appropriate computations. Without the ability to regulate issuance, bit gold is akin to a collectible:

        “…Unlike fungible atoms of gold, but as with collector s items, a large supply during a given time period will drive down the value of those particular items. In this respect bit gold acts more like collector s items than like gold…” – Szabo, 2005

        Bit gold requires an additional, external process to create fungible units of currency:

        “…[B]it gold will not be fungible based on a simple function of, for example, the length of the string. Instead, to create fungible units dealers will have to combine different-valued pieces of bit gold into larger units of approximately equal value. This is analogous to what many commodity dealers do today to make commodity markets possible. Trust is still distributed because the estimated values of such bundles can be independently verified by many other parties in a largely or entirely automated fashion.” – Szabo, 2005

        To paraphrase Szabo, “to assay the value of… bit gold, a dealer checks and verifies the difficulty, the input, and the timestamp”. The dealers defining “larger units of approximately equal value” are providing a similar pricing function as Dai’s “standard basket of commodities”. Fungible units are not created in bit gold when proofs-ofwork are produced, only later when those proofs are combined into larger “units of approximately equal value” by dealers in markets outside the network.

        To his credit, Szabo recognizes this flaw:

        “…The potential for initially hidden supply gluts due to hidden innovations in machine architecture is a potential flaw in bit gold, or at least an imperfection which the initial auctions and ex post exchanges of bit gold will have to address.” – Szabo, 2005

        Again, despite not having arrived at (what we now know as) the solution, Szabo was pointing us at it: because the cost of computation changes over time, the network must respond to changes in the supply of computation by adjusting the price of money.

        USE INTERNAL MARKETS

        Szabo’s dealers would have been an external market that defined the price of (bundles of) bit gold after its creation. Is it possible to implement this market within the system instead of outside it?

        Let’s return to Wei Dai and b-money. As mentioned earlier, Dai proposed an alternative auction-based model for the creation of bmoney. Satoshi’s design for bitcoin improves directly on bmoney’s auction model[7]:

        “So I propose an alternative money creation subprotocol, in which [users]… instead decide and agree on the amount of b-money to be created each period, with the cost of creating that money determined by an auction. Each money creation period is divided up into four phases, as follows: 

        Planning. The [users] compute and negotiate with each other to determine an optimal increase in the money supply for the next period. Whether or not the [network] can reach a consensus, they each broadcast their money creation quota and any macroeconomic calculations done to support the figures.

        Bidding. Anyone who wants to create b-money broadcasts a bid in the form of where x is the amount of b-money he wants to create, and y is an unsolved problem from a predetermined problem class. Each problem in this class should have a nominal cost (in MIPS-years say) which is publicly agreed on.

        Computation. After seeing the bids, the ones who placed bids in the bidding phase may now solve the problems in their bids and broadcast the solutions. Money creation.

        Money creation. Each [user] accepts the highest bids (among those who actually broadcasted solutions) in terms of nominal cost per unit of bmoney created and credits the bidders accounts accordingly.” Dai, 1998

        B-money makes significant strides towards the correct market structure for a digital currency. It attempts to eliminate Szabo’s external dealers and allow users to engage in price discovery by directly bidding against each other.

        But implementing Dai’s proposal as written would be challenging:

        • In the “Planning” phase, users bear the burden of negotiating the “optimal increase in the money supply for the next period”. How “optimal” should be defined, how users should negotiate with each other, and how the results of such negotiations are shared is not described.

        • Regardless of what was planned, the “Bidding” phase allows anyone to submit a “bid” to create b-money. The bids include both an amount of b-money to be created as well as a corresponding amount of proofof-work so each bid is a price, the number of computations for which a given bidder is willing to perform in order to buy a given amount of b-money.

        • Once bids are submitted, the “computation” phase consists of bidders performing the proof-of-work they bid and broadcasting solutions. No mechanisms for matching bidders to solutions is provided. More problematically, it’s not clear how users should know that all bids have been submitted – when does the “Bidding” phase end and the “computation” phase begin?

        • These problems recur in the “Money ]reation” phase. Because of the nature of proof-of-work, users can verify the proofs they receive in solutions are real. But how can users collectively agree on the set of “highest bids”? What if different users pick different such sets, either due to preference or network latency?

        Decentralized systems struggle to track data and make choices consistently, yet b-money requires tracking bids from many users and making consensus choices among them. This complexity prevented b-money from ever being implemented.

        The root of this complexity is Dai’s belief that the “optimal” rate at which b-money is created should fluctuate over time based on the “macroeconomic calculations” of its users. Like bit gold, b-money has no mechanism to limit the creation of money. Anyone can create units of b-money by broadcasting a bid and then doing the corresponding proof-of-work. 

        Both Szabo and Dai proposed using a market exchanging digital currency for computations yet neither bit gold nor b-money defined a monetary policy to regulate the supply of currency within this market.

        Visit Unchained.BitcoinMagazine.com to access educational content focused on collaborative custody and financial services as well as tools to upgrade your bitcoin security.

        IV. SATOSHI’S MONETARY POLICY GOALS LED TO BITCOIN

        In contrast, a sound monetary policy was one of Satoshi’s primary goals for the bitcoin project. In the very first mailing list post where bitcoin was announced, Satoshi wrote:

        “The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” – Satoshi, 2009

        Satoshi would go on to describe other problems with fiat currencies such as risky fractional reserve banking, a lack of privacy, rampant theft & fraud, and the inability to make micropayments. But Satoshi started with the issue of debasement by central banks—with a concern about monetary policy. 

        Satoshi wanted bitcoin to ultimately reach a finite circulating supply that cannot be diluted over time. The “optimal” rate of bitcoin creation, for Satoshi, should thus eventually be zero. 

        This monetary policy goal, more than any other characteristic they personally (or collectively!) possessed, was the reason Satoshi “discovered” bitcoin, the blockchain, Nakamoto consensus, etc. —and not someone else. It’s the short answer to the question posed in the title of this article: Satoshi thought of bitcoin because they were focused on creating a digital currency with a finite supply.

        A finite supply of bitcoin is not only a monetary policy goal or a meme for bitcoiners to rally around. It’s the essential technical simplification that allowed Satoshi to build a functional digital currency while Dai’s b-money remained just a fascinating web post. 

        Bitcoin is b-money with an additional requirement of a predetermined monetary policy. Like many technical simplifications, constraining monetary policy enables progress by reducing scope. Let’s see how each of the phases of b-money creation is simplified by imposing this constraint.

        ALL 21M BITCOIN ALREADY EXIST

        In b-money, each “money creation period” included a “Planning” phase, in which users were expected to share their “macroeconomic calculations” justifying the amount of b-money they wanted to create at that time. Satoshi’s monetary policy goals of a finite supply and zero tail emission were incompatible with the freedom granted by b-money to individual users to create money. The first step on the journey from bmoney to bitcoin was therefore to eliminate this freedom. Individual bitcoin users cannot create bitcoin. Only the bitcoin network can create bitcoin, and it did so exactly once, in 2009 when Satoshi launched the bitcoin project.

        Satoshi was able to replace the recurring “Planning” phases of b-money into a single, predetermined schedule on which the 21M bitcoin created in 2009 would be released into circulation. Users voluntarily endorse Satoshi’s monetary policy by downloading and running the Bitcoin Core software in which this monetary policy is hard-coded. 

        This changes the semantics of bitcoin’s market for computations. The bitcoin being paid to miners is not newly issued; it’s newly released into circulation from an existing supply. 

        This framing is crucially different from the naive claim that “bitcoin miners create bitcoin”. Bitcoin miners are not creating bitcoin, they’re buying it. Bitcoin isn’t valuable because “bitcoin are made from energy”—bitcoin’s value is demonstrated by being sold for energy. 

        Let’s repeat it one more time: bitcoin isn’t created through proof-of-work, bitcoin is created through consensus.

        Satoshi’s design eliminates the requirement for ongoing “Planning” phases from b-money by doing all the planning up front. This allowed Satoshi to hard-code a sound monetary policy but also simplified the implementation of bitcoin.

        BITCOIN IS PRICED THROUGH CONSENSUS

        This freedom granted to users to create money results in a corresponding burden for the bmoney network. During the “Bidding” phase the b-money network must collect and share money creation “bids” from many different users. 

        Eliminating the freedom to create money relieves the bitcoin network of this burden. Since all 21M bitcoin already exist, the network doesn’t need to collect bids from users to create money, it merely has to sell bitcoin on Satoshi’s predetermined schedule. 

        The bitcoin network thus offers a consensus asking price for the bitcoin it is selling in each block. This single price is calculated by each node independently using its copy of the blockchain. If nodes have consensus on the same blockchain (a point we will return to later) they will all offer an identical asking price at each block.[8]

        The first half of the consensus price calculation determines how many bitcoin to sell. This is fixed by Satoshi’s predetermined release schedule. All bitcoin nodes in the network calculate the same amount for a given block:

        The second half of the consensus asking price is the number of computations the current subsidy is being sold for. Again, all bitcoin nodes in the network calculate the same value (we will revisit this difficulty calculation in the next section):

        Together, the network subsidy and difficulty define the current asking of bitcoin as denominated in computations. Because the blockchain is in consensus, this price is a consensus price.

        Users in b-money also were presumed to have a consensus “blockchain” containing the history of all transactions. But Dai never thought of the simple solution of a single consensus asking price for the creation of new b-money, determined solely by the data in that blockchain.

        Instead, Dai assumed that money creation must go on forever. Individual users would therefore need to be empowered to affect monetary policy – just as in fiat currencies. This perceived requirement led Dai to design a bidding system which prevented b-money from being implemented.

        This added complexity was removed by Satoshi’s requirement of a predetermined monetary policy.

        TIME CLOSES ALL SPREADS

        In the “Computation” phase of b-money, individual users would perform the computations they’d committed to in their prior bids. In bitcoin, the entire network is the seller – but who is the buyer?

        In the email delivery market, the buyers were individuals wanting to send emails. The pricing authority, the email service provider, would set a price that was considered cheap for individuals but expensive for spammers. But if the number of legitimate users increased, the price could still remain the same because the computing power of individual users would have remained the same. 

        In b-money, each user who contributed a bid for money creation was supposed to subsequently perform the corresponding number of computations themselves. Each user was acting as their own pricing authority based on their knowledge of their own computing capabilities. 

        The bitcoin network offers a single asking price in computations for the current bitcoin subsidy. But no individual miner who finds a block has performed this number of computations.[9] The individual miner’s winning block is proof that all miners collectively performed the required number of computations. The buyer of bitcoin is thus the global bitcoin mining industry. 

        Having arrived at a consensus asking price, the bitcoin network will not change that price until more blocks are produced. These blocks must contain proofs-of-work at the current asking price. The mining industry therefore has no choice if it wants to “execute a trade” but to pay the current asking price in computations. 

        The only variable the mining industry can control is how long it will take to produce the next block. Just as the bitcoin network offers a single asking price, the mining industry thus offers a single bid—the time it takes to produce the next block meeting the network’s current asking price.

        To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they’re generated too fast, the difficulty increases. – Nakamoto, 2008

        Satoshi is modestly describing the difficulty adjustment algorithm, often cited as one of the most original ideas in bitcoin’s implementation. This is true, but instead of focusing on the inventiveness of the solution, let’s instead focus on why solving the problem was so important to Satoshi in the first place. 

        Projects such as bit gold and b-money didn’t need to constrain the rate in time of money creation because they didn’t have a fixed supply or a predetermined monetary policy. Periods of faster or slower money creation could be compensated for through other means, e.g. external dealers putting bit gold tokens into larger or smaller bundlers or b-money users changing their bids. 

        But Satoshi’s monetary policy goals required bitcoin to have a predetermined rate at which bitcoin was to be released for circulation. Constraining the (statistical) rate at which blocks are produced over time is natural in bitcoin because the rate of block production is the rate at which the initial supply of bitcoin is being sold. Selling 21M bitcoin over 140 years is a different proposition than allowing it to be sold in 3 months. 

        Moreover, bitcoin can actually implement this constraint because the blockchain is Szabo’s “secure timestamping protocol.” Satoshi describes bitcoin as first and foremost a “distributed timestamp server on a peer-to-peer basis,” and early implementations of the bitcoin source code use the world “timechain” rather than “blockchain” to describe the shared data structure that implements bitcoin’s proof-of-work market.[10]

        Unlike bit gold or b-money, tokens in bitcoin do not experience supply gluts. The bitcoin network uses the difficulty adjustment to change the price of money in response to changes in the supply of computations.

        Bitcoin’s difficulty readjustment algorithm leverages this capability. The consensus blockchain is used by participants to enumerate the historical bids made by the mining industry and readjust the difficulty in order to move closer to the target block time.

        A STANDING ORDER CREATES CONSENSUS 

        The chain of simplifications caused by demanding strong monetary policy extends to the “Money creation” phase of b-money. 

        User-submitted bids in b-money suffer from “nothing at stake” problem. There is no mechanism to prevent users from submitting bids with a huge amount of b-money for very little work. This requires the network to both track which bids have been completed and only accept the “highest bids…in terms of nominal cost per unit of b-money created” in order to avoid such nuisance bids. Each b-money participant must track an entire order book worth of bids, match bids with their subsequent computations, and only settle such completed orders with the highest prices. 

        This problem is an instance of the more general problem of consensus in decentralized systems, also known as the “Byzantine generals” or sometimes the “double-spend” problem in the context of digital currencies. Sharing an identical sequence of data among all participants is challenging inside an adversarial, decentralized network. Existing solutions to this problem – socalled “Byzantine-fault tolerant (BFT) consensus algorithms”—require previous coordination among participants or a supermajority (>67%) of participants to not behave adversarially.

        Bitcoin doesn’t have to manage a large order book of bids because the bitcoin network offers a single consensus asking price. This means bitcoin nodes can accept the first (valid) block they see that meets the network’s current asking price— nuisance bids can easily be ignored and are a waste of a miner’s resources. 

        Consensus pricing of computations allows the matching of buy/sell orders in bitcoin to be done eagerly, on a first-come, first-served basis. Unlike b-money, this eager order matching means that bitcoin’s market has no phases—it operates continuously, with a new consensus price being calculated after each individual order is matched (block is found). To avoid forks caused by network latency or adversarial behavior, nodes must also follow the heaviest chain rule. This greedy order settling rule ensures that only the highest bids are accepted by the network.

        This combination eager-greedy algorithm, where nodes accept the first valid block they see and also follow the heaviest chain, is a novel BFT algorithm which rapidly converges on consensus about the sequence of blocks. Satoshi spends 25% of the bitcoin white paper demonstrating this claim.

        We established in previous sections that bitcoin’s consensus asking price itself depends on the blockchain being in consensus. But it turns out that the existence of a single consensus asking price is what allows the market for computations to eagerly match orders, which is what leads to consensus in the first place! 

        Moreover, this new “Nakamoto consensus” only requires 50% of participants to not be adversarial, a significant improvement on the prior state of the art. A cypherpunk like Satoshi made this theoretical computer science breakthrough, instead of a traditional academic or industry researcher, because of their narrow focus on implementing sound money, rather than a generic consensus algorithm for distributed computing.

        IV. CONCLUSION

        B-money was a powerful framework for building a digital currency but one that was incomplete because it lacked a monetary policy. Constraining b-money with a predetermined release schedule for bitcoins reduced scope and simplified implementation by eliminating the requirement to track and choose among user-submitted money creation bids. Preserving the temporal pace of Satoshi’s release schedule led to the difficulty adjustment algorithm and enabled Nakamoto consensus, widely recognized as one of the most innovative aspects of bitcoin’s implementation.

        There is a lot more to bitcoin’s design than the aspects discussed so far. We have focused this article on the “primary” market within bitcoin, the market which distributes the initial bitcoin supply into circulation. 

        The next article in this series will explore the market for bitcoin transaction settlement and how it relates to the market for distributing the bitcoin supply. This relationship will suggest a methodology for how to build future markets for decentralized services on top of bitcoin.

        *  *  *

        To continue your Bitcoin education, click here to download the full report: “How to Position for the Bitcoin Boom” by Tuur Demeester, prepared for Unchained

        Tyler Durden
        Sat, 04/13/2024 – 16:20

      • Russia Now Says It Expects 'Unconditional Capitulation Of Zelensky Regime' Before Peace
        Russia Now Says It Expects ‘Unconditional Capitulation Of Zelensky Regime’ Before Peace

        Ukrainian cities and especially the country’s energy infrastructure have been getting pounded by intensified Russian missile and airstrikes over the past several days and weeks, leading to widespread power outages across the country.

        Russia’s defense ministry said Friday, “Russian troops delivered 48 precision strikes at Ukrainian energy and military-industrial sites, army and mercenaries’ deployment areas over the past week in the special military operation in Ukraine.”

        This included a Thursday morning attack which destroyed one of Ukraine’s largest power plants in the Kyiv region. “The goal of the strike were achieved. All the targets were destroyed,” Moscow said. Ukrainian authorities are urging those with power to preserve and save their energy usage as much as possible.

        Via TASS

        President Putin this month said this is a necessary response to Ukraine’s own cross-border attacks on Russia’s energy sector, which has been devastating of late, resulting in a significant drop in Russia’s gasoline production.

        But lost in the global geopolitical headlines, which have been largely driven by the Israel-Gaza war and a showdown over the coming expected Iranian attack on Israel, was the shock statement by Russia’s ambassador to the United Nations this week.

        During Thursday’s UN Security Council meeting, Vasily Nebenzya, the Permanent Representative of Russia to the United Nations, said that Moscow now expects the “unconditional capitulation” of the Zelensky government.

        Ambassador Nebenzya told the body:

        “This is how it will go down in history – as an inhuman and hateful regime of terrorists and Nazis who betrayed the interest of their people and sacrificed it for Western money and for Zelensky and his closest circle.

        In these conditions, attempts by the head of the Kiev regime to promote his formula and convene summits in support of the Kiev regime cause only confusion.

        Very soon the only topic for any international meetings on Ukraine will be the unconditional capitulation of the Kiev regime.

        He emphasized in conclusion to these provocative remarks, “I advise you all to prepare for this in advance.”

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        This firm statement appears part of Russia’s continuing reaction to the planned Switzerland-hosted international Ukraine peace conference, which the Swiss government formally announced as set for June 15-16 at the lakeside Bürgenstock resort near Lucerne.

        As we underscored previously, while over 100 nations are to be invited, the one country that can determine the final outcome of the war has not been invited: Russia. Its foreign minister Sergey Lavrov has characterized the conference as a “road to nowhere” and a sign that the West is not sincere about a willingness to pursue real peace negotiations.

        “That this is a road to nowhere, to put it mildly, is obvious to any normal political observer. Yesterday, Russian President Vladimir Vladimirovich Putin once again made our position clear and understandable during the meeting with Alexander Grigoryevich Lukashenko,” Lavrov explained.

        Russia’s U.N. Ambassador Vassily Nebenzia, left, and Foreign Minister Sergei Lavrov, AP file

        And given that Russia’s ambassador to the UN just declared that the end of the Ukraine war will be conditioned on nothing less than Ukraine’s total surrender, the prospect for peace negotiations is now further away than ever. And all the while Europe is still scrambling to find more weapons to ship to Zelensky’s military.

        Tyler Durden
        Sat, 04/13/2024 – 15:45

      • "Nonsensical": Another Federal Judge Rejects All Of Hunter Biden's Claims For Dismissal
        “Nonsensical”: Another Federal Judge Rejects All Of Hunter Biden’s Claims For Dismissal

        Authored by Jonathan Turley,

        While some legal analysts continue to boost Hunter Biden’s legal claims, the reviews in actual courts are far less glowing. Recently, we discussed a federal judge rejecting all eight motions of Hunter Biden to dismiss his tax charges in a stinging opinion citing a conspicuous lack of actual evidence to support their claims. Now, U.S. District Judge Maryellen Noreika has also rejected those claims in the gun case in Delaware, calling Hunter’s arguments “nonsensical.”

        Legal experts like MSNBC’s Andew Weissmann have slammed the gun charges as “an abuse.”

        Hunter Biden’s counsel has argued selective prosecution and a bar on charges (based on the defunct notorious plea deal) in both cases.

        While these arguments were given great credence on some networks, they were stomped on by actual judges applying the law to the case.

        Abby Lowell and Hunter’s defense team have insisted that he is the victim of selective prosecution, but Special Counsel David Weiss has eviscerated those claims.

        In a recent filing, Weiss dismissed many of Hunter’s claims as “patently false” and noted that he virtually flaunted his violations and engaged in obvious efforts to evade taxes and hide his crimes.

        Weiss further noted that other defendants did not write “a memoir in which they made countless statements proving their crimes and drawing further attention to their criminal conduct.”

        It was a devastating take-down of Hunter’s claims, but it did not address the conspicuous omission of charges brought against Menendez, including FARA charges.

        It also does not address the fact that the Justice Department not only allowed the statute of limitations to run on major crimes, but sought to finalize an obscene plea agreement with no jail time for Hunter. It only fell apart when a judge decided to ask a couple of cursory questions of the prosecutor, who admitted that he had never seen an agreement this generous for a defendant.

        Weiss noted in his filing that they filed new charges only after Hunter’s legal counsel refused to change the agreement and insisted that it remained fully enforceable.

        Judge Noreika is equally unimpressed by the arguments of the Biden team.

        She almost mockingly noted that “Defendant’s articulated protected class is apparently family members of politically-important persons.”

        She later added:

        “Defendant’s claim is effectively that his own father targeted him for being his son, a claim that is nonsensical under the facts here. Regardless of whether Congressional Republicans attempted to influence the Executive Branch, there is no evidence that they were successful in doing so and, in any event, the Executive Branch prosecuting Defendant was at all relevant times (and still is) headed by Defendant’s father.”

        The court also rejected Hunter Biden’s effort to subpoena Trump, former attorney general Bill Barr, and two other senior officials who served in the Trump Justice Department.

        Again, she noted that it was the Biden administration that decided to prosecute Hunter Biden on the firearms offenses.

        Here is the decision: Hunter Biden Gun Decision

        Tyler Durden
        Sat, 04/13/2024 – 15:10

      • The U.S. Is Facing Record Drug Shortages
        The U.S. Is Facing Record Drug Shortages

        And just like that, the supply chain crisis we saw for pharmaceuticals during Covid has returned. ABC reported this week that drug shortages in the United States have reached an “all-time high”. 

        In the first quarter of 2024, the U.S. faced 323 active medication shortages, surpassing the previous record of 320 in 2014, as reported by the American Society of Health-System Pharmacists and the Utah Drug Information Service, the report says. 

        The American Cancer Society highlighted a particularly alarming shortage of chemotherapy drugs, which has led to severe impacts on patient care. Hospitals and clinics have reported completely running out, with doctors having to ration or prioritize who gets the limited supplies first.

        Dr. Paul Abramowitz, CEO of ASHP told ABC: “All drug classes are vulnerable to shortage. Some of the most worrying shortages involve generic sterile injectable medications, including cancer chemotherapy drugs and emergency medications stored in hospital crash carts and procedural areas.”

        He continued: “Much work remains to be done at the federal level to fix the root causes of drug shortages. ASHP will continue to engage with policymakers regularly as we guide efforts to draft and pass new legislation to address drug shortages and continue to strongly advocate on behalf of our members for solutions that work.”

        Abramowitz noted ongoing national shortages of ADHD medications, including Adderall, which began in late 2022 due to manufacturing delays and has since become demand-driven, according to the FDA. A Senate Homeland Security Committee report in March 2023 highlighted that drug shortages have been a persistent issue in the U.S. for over a decade, exacerbated by the COVID-19 pandemic, leading to delayed or unavailable treatments. 

        During a House Ways and Means Committee hearing, experts testified that these shortages also impose financial burdens on patients as they resort to more expensive alternatives. The ASHP is collaborating with federal agencies to address these shortages, recommending increased transparency and diversity in supply chains, though it expressed concerns about potential financial penalties on hospitals unable to maintain large stocks of medications.

        The FDA told ABC: “The FDA can utilize different tools during a shortage to assist manufactures with increasing supply including expediting review of a supplement to add additional supply of active ingredients or adding additional capacity.”

        It continued: “Unfortunately, we are not able to share specific actions, as they are considered commercial confidential information.”

        Tyler Durden
        Sat, 04/13/2024 – 14:35

      • Woman Who Went Viral For Hugging Trump At Chick-Fil-A Explains Why Black Voters Support Him
        Woman Who Went Viral For Hugging Trump At Chick-Fil-A Explains Why Black Voters Support Him

        Authored by Tom Ozimek via The Epoch Times,

        A woman who recently went viral for hugging former President Donald Trump at a Chick-fil-A in Georgia and telling him not to worry about dishonest media coverage has revealed why she thinks black voters are increasingly backing the former president in the upcoming election.

        President Trump met with supporters at the restaurant in Atlanta earlier this week, with a video capturing the moment that Michaelah Montgomery, a political consultant and founder of Conserve the Culture, expressed her support for the former president.

        “I don’t care what the media tells you, Mr. Trump, we support you,” she says in the video, with President Trump giving her a smile and a hug in response.

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        Later, as the video of the encounter went viral, Ms. Montgomery sat for an interview on Fox News, in which she explained why black voters are increasingly flocking to the former president.

        “They feel like he’s honest. They feel like this is somebody who, while we might not agree with how he says things, how he goes about things, at least he’s telling us what it is,” Montgomery said.

        “We don’t feel like this is a snake in the grass waiting for his chance to bite us,” she continued. “This is somebody who’s telling us this is what my plan is. Here’s how I plan to execute it.”

        “They just feel like he’s more relatable,” Ms. Montgomery added. “They really feel like this is somebody who’s talking to them and not just saying what they want to hear.”

        President Trump took to Truth Social to express his appreciation for Ms. Montgomery’s remarks.

        “Thank you! Together, we will Make America Great Again!” the former president wrote.

        Ms. Montgomery’s remarks come on the heels of a series of polls indicating that black voters have sharply boosted their support for President Trump in the current election cycle.

        Black Voters Breaking for Trump

        Black Americans, who have often been entrenched Democrat voters, have both anecdotally and statistically been breaking away from supporting President Joe Biden in recent months and appear to be increasingly throwing their weight behind President Trump.

        A recent New York Times/Siena College poll showed a staggering jump from the 4 percent of black voters who said in October 2020 that they would vote for then-candidate Trump, compared to a whopping 23 percent who said in February 2024 they plan to vote for him this November.

        The stunning 19-percent increase in black voter support for President Trump comes as a majority (57 percent) said they see the country under President Biden heading in the wrong direction.

        Recent polling by The Economist shows that, while white voter support for the former president has remained steady, racial-minority groups (long a staple of Democrat backing) have been turning away from the incumbent.

        The Economist found the strongest support for President Trump among the youngest (18-24) black voters, with 21 percent of such women and 33 percent of such men saying they plan to vote for him.

        And while 35 percent of black voters who identify as conservative voted for President Trump in 2020, the former president has increased this support to 46 percent of this cohort expressing their support for him.

        This comes as support for President Trump among Latino voters has also surged in recent weeks, according to a recent Axios/Ipsos poll.

        When Latinos who intend to vote in the November presidential election were asked who they plan to vote for, 31 percent said President Biden and 28 percent said President Trump. That’s a difference of just 3 percentage points.

        However, given the poll’s 3.6 percent margin of error, this means that it’s technically possible that President Trump could actually be leading his main rival among Latino voters by up to 0.6 percentage points.

        The poll also showed that President Trump is ahead of the incumbent among Latinos on the their top three most worrying issues: inflation, crime, and immigration.

        Why Are Black Voters Breaking for Trump?

        Three main factors appear to be spurring black voters to shift toward President Trump, according to a number of interviewees who spoke to The Epoch Times: the economy, the criminal justice system, and the influence of other black people expressing their support in a public way.

        Mark Fisher, co-founder of a Black Lives Matter (BLM) group in Rhode Island, told The Epoch Times in an interview in December that he publicly declared his support for the former president because he felt compelled to “clear a path” for other pro-Trump black voters who may be reluctant to discuss their preferences openly.

        Marv Neal, a 52-year-old black man who hosts a weekly radio show on Boston’s “Urban Heat” radio station, told The Epoch Times in December that he hadn’t yet decided who he would vote for in 2024, but added that he’s decidedly Trump-curious.

        “Just because you’re a Democrat doesn’t mean you’re going to get my vote,” he said.

        Mr. Neal said he initially didn’t support President Trump’s tough stance on immigration but, over time, he’s come to realize that more strict border security preventing illegal immigrants from pouring into the country benefits American citizens.

        In her interview on Fox News, Ms. Montgomery said that members of the black community often face pressure not to support the former president.

        “I really appreciate that we were able to not only let him know that regardless of what social media says … I know they’re trying to make us think we’re supposed to hate you, but we don’t,” Ms. Montgomery said, recalling her interaction with President Trump.

        “And additionally, it was a learning experience for my students because they were able to see and experience firsthand how the media can warp that perception of an opinion or a person.”

        The Biden campaign did not return a request for comment on this story.

        Tyler Durden
        Sat, 04/13/2024 – 14:00

      • How Biden's Inflation Reduction Act Failed To Reduced Electricity Costs In Pictures
        How Biden’s Inflation Reduction Act Failed To Reduced Electricity Costs In Pictures

        Authored by Mike Shedlock via MishTalk.com,

        Let’s check in on the not exactly impressive energy and inflation results of Biden’s Inflation Reduction Act (IRA)…

        Data from the BLS, chart by Mish

        Biden’s energy policy has been an inflationary disaster. And make no mistake, the IRA was nothing but energy policy, more precisely, climate policy.

        The Inflation Reduction Act Is a Climate Bill

        Bloomberg flashback, August 15, 2022: The Inflation Reduction Act Is a Climate Bill. Just Don’t Call It One.

        “It does seem kind of wacky and counterintuitive for the most consequential climate legislation ever to be called the ‘Inflation Reduction Act,’” says Angela Bradbery, a professor of public interest communications at the University of Florida’s journalism school. “For the public, it’s probably more confusing than anything.”

        Congress once passed bills with simpler and more intuitive names, such as the Clean Air Act. But today’s political and media landscape demands that legislation be packaged to steer public debate in a direction the sponsors can better manage. 

        “Words matter. Names matter,” says Ed Maibach, director of George Mason University’s Center for Climate Change Communication. “Inflation and the price of gas are top of mind concerns for most Americans today, so calling the bill the Inflation Reduction Act was a stroke of rhetorical genius.”

        Since the IRA’s surprise unveiling on July 27, analysts have debated how much its contents pertain to inflation. “The IRA speaks to the high energy costs” Americans are struggling with, says Stokes.

        Hoot of the Day: Rhetorical Genius

        In retrospect, the name is such a disaster that Biden even admits so.

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        Green New Deal by Another Name

        https://platform.twitter.com/widgets.js

        Biden’s Green-Energy Price Shock

        The Wall Street Journal comments on Biden’s Green-Energy Price Shock

        Do White House officials pay electric bills? They strangely keep saying the President’s climate agenda is reducing electric-power rates even as the cost of running your dishwasher is sky-rocketing, as illuminated by the Labor Department’s consumer-price index.

        By our calculation, electricity prices have increased 13 times faster under Mr. Biden than across the previous seven years. His policies aren’t entirely to blame. But most of it is a result of the left’s climate agenda, and the price increases will get worse.

        Federal regulations, renewable subsidies and state green-energy mandates are forcing fossil-fuel and nuclear plants to retire prematurely. Solar and wind need backup from so-called peaker gas plants, usually at a hefty premium. During power shortages, spot prices can hit $10,000 per megawatt hour compared to $30 to $60 on a normal basis.

        State net-metering programs also subsidize people with solar panels for excess power they remit to the grid. People without solar then pay more for the grid’s fixed costs, which are also growing as more renewables are added. In California an average customer without solar pays 10% to 20% more to subsidize solar.

        How Much Did the IRA Cost?

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        It’s much worse than Moore suggests.

        Inflation Reduction Act Cost

        The following chart is courtesy of Penn Wharton.

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        A year ago I commented The Inflation Reduction Act Price Jumps From $385 Billion to Over $1 Trillion

        The true costs begin to emerge. 

        The key word in that sentence is “begin”. Expect more revisions to this newly revised $1 trillion+ cost estimate. 

        Nothing in the bill will reduce inflation. It was a known lie right from the start.

        Bear in mind, the $1 trillion and counting estimate does not factor in higher energy costs for consumers and businesses.

        So let me ask again: How Much Did the IRA Cost?

        It’s Been a Bloody Month for Bond Market Bulls

        If you are a bond market bull, it’s been a tough month. Let’s review what happened, why, and what’s ahead.

        US Treasury Yields from the New York Fed as of 2024-04-10

        Earlier today I noted It’s Been a Bloody Month for Bond Market Bulls

        Summation

        The inflationary pressures include demographics, the IRA, energy policy, regulations, tariffs, child tax credits unless the Senate kills that, and another unconstitutional push by Biden for student debt cancellation.

        And there’s much more. Click on the above link for details.

        Tyler Durden
        Sat, 04/13/2024 – 12:50

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      Apr 13

      Today’s News 13th April 2024

      • The Political Left Has Proven Beyond A Doubt That They Are Authoritarians
        The Political Left Has Proven Beyond A Doubt That They Are Authoritarians

        Authored by Brandon Smith via Alt-Market.us,

        Nearly 20 years ago when I started my work in the independent media the common mantra among my peers was noting the existence of the “false left/right paradigm” – The idea that Democrats and Republicans were essentially the same and were working towards the same exact authoritarian goals. This was before the Ron Paul movement and the libertarian/patriot shift within conservative circles when Neocons (fake conservatives) dominated all Republican discourse.

        In the 16 years since there has been some interesting developments at the state level, with a return to true conservative and constitutional principles. Conservative ideals were on the verge of death in the early 2000s, but thanks to Ron Paul and others there has been a resurgence. The false left/right paradigm still applies in many ways and we have to remain vigilant, but the most blatant RINO frauds are quickly losing favor.

        Nihilists (and paid federal provocateurs) will constantly claim we aren’t making any progress, but consider this: Decades ago conservatives used to clamor to defend people like John McCain, Lindsay Graham or Mitt Romney, now they despise such fakes (McCain was hated by most conservatives well before he died). Times are changing; this is a fact, and we need to acknowledge the positive move forward.

        This is not to say that Americans should rely on politics to fix our national problems, but it would be a lie to claim that there are no political representatives on our side. A common argument against right leaning movements is that conservative ideals are “poorly defined” and that we “don’t stand for anything.” This is simply not true.  In fact, it’s leftists that are constantly changing their positions like they have schizophrenia. Conservatives have been far more consistent in comparison.

        The guidelines are relatively easy to understand – Conservatives and liberty activists support a return to constitutional governance, the protection of the Bill of Rights, free markets, meritocracy, the right to choose associations, truth in media, secure borders, the protection of children from exploitation, keeping America out of foreign entanglements, moral and accountable leadership, etc. The degree to which leaders can adhere to these parameters determines how much trust they earn, and trust is the only currency that matters these days.

        Do we disagree on certain nuances of these issues? Of course. We aren’t like leftists following a central hive mind, always afraid of being canceled by the mob; we argue. That’s not necessarily a bad thing as long as we unify on basic tenets and principles.

        Democrats (and leftists in general) on the other hand have gone in the complete opposite direction. If there was ever a time when the average leftist and conservative could find common ground, that time was LONG gone. Many leftists used to be pro-individual rights; today they argue incessantly against personal liberty as if it’s dangerous to society. They used to be anti-war; now they froth at the mouth over countries like Russia and press for WWIII without any rational thought. Their methods have become violent, vicious, egregious in execution as they adopt an “ends justify the means” approach.

        The political left does not care about what is right. They do not care about what is true. They only care about “winning.”

        It is this leftist infatuation with the dark side that is driving the US to the edge of civil war. Would a candidate like Trump be taken as seriously under normal political conditions? It’s hard to say – He wasn’t taken very seriously in 2012. However, when Democrats started to go full bore authoritarian suddenly Trump became very appealing to conservative voters.

        Why? Because he represents a big middle finger to the communists, a bull in the china shop. If you want to piss off authoritarian Democrats trying to control what you say and what you think, you put Trump in their faces for another 4 years. Does this fix our underlying national problems? No, not in the slightest. In fact, I still believe Trump distracts patriots from what really needs to be done. I’m convinced that, at this stage, only war will resolve the issue. Voting for Trump is a good way to enrage the woke cry-bullies, and I wouldn’t fault anyone for wanting that, but any real return to honor and order would have to be implemented by the public, not the government.

        The deeper problem is one of unavoidable cultural division – Conservatives and patriots cannot live side-by-side with rabid leftists, nor can we accept a leftist controlled government. They have proven beyond a shadow of a doubt that they intend to destroy every aspect of western culture and institute a regime of oppression.

        So much has happened recently that I fear many Americans will become overwhelmed and forget the recent trespasses of leftists.  In case you had any doubts at all or know people that still defend them, here are just a handful of examples of the worst authoritarian crimes committed by Democrats in the past four years alone…

        Weaponizing The Legal System Using Selective Prosecution

        When Democrats talk about “equity” in criminal justice, what they are referring to is the unbalanced application of law depending on the ethnicity or political beliefs of the people being charged. The most blatant example being the kangaroo court for the Jan 6th event and their attempt to lock up conservative protesters as “insurrectionists.”

        Not a single death occurred due to protesters, property damage was minimal and capitol police INCITED the riot by firing rubber bullets and CS gas into the otherwise peaceful crowd. Yet, the protesters were painted by Dems and the media as monsters trying to “destroy democracy.”

        Compare this to the Democrat response to the BLM and Antifa riots across the US since 2016 in which dozens were killed, thousands of police injured, billions in property damage and multiple government buildings attacked. These people tried to hold the country hostage, yet, the vast majority of those that were actually arrested were released and never charged by Democrat District Attorneys and prosecutors. The media even portrayed them as heroes.

        If Jan 6th had been a far-left protest, there would have been no commission and no one would be in jail for 10-20 years today. There are numerous examples of selective prosecution targeting patriots and the message is clear – “If you defy us in any way, we have no problem misusing the legal system to crush you.”

        Pandemic Hysteria And Medical Tyranny

        Did some Republicans initially support the covid lockdowns? Yes. When it became clear that covid was a non-threat did they end the lockdowns in their own states? Yes, surprisingly most of them did.

        Half the states in the US (all red states) blocked attempts to continue the pandemic lockdowns. These same states also passed legislation to disrupt any future attempts at lockdowns or vaccine passports. And, all the governors and legislators involved were accused by Democrats and the media of “killing Americans” because of their defense of freedom.

        In reality, these states along with conservatives across the country defeated a draconian agenda that almost brought the US to the brink of full spectrum medical tyranny. Democrats and globalists tried to use covid as an opportunity to institute sweeping anti-liberty mandates without checks and balances. Some of rules they wanted to put in place included:

        • Forced vaccination.

        • No employment for the unvaccinated.

        • No access to public spaces for the unvaccinated.

        • No access to normal medical treatment for the unvaccinated.

        • House arrest for the unvaccinated.

        • Fines for the unvaccinated.

        • Jail time for people speaking against the mandates or vaccines.

        • Government tracking of the unvaccinated.

        • Taking children away from the unvaccinated.

        • Secret vaccination of children at public schools without knowledge of parents.

        • Mass online censorship of anyone presenting information contrary to the government narrative.

        Some Democrats including Biden even threatened to go “door-to-door” to vaccinate individuals, though the official position was that they would instead seek to “make life so hard” for the unvaxxed that anyone in refusal would eventually be forced to comply. Luckily their plans failed.  The CDC published a bunch of unverified stats claiming most Americans were vaccinated, no one took the boosters and the agenda fizzled into the background.  That said, it’s important that we never forget what happened.

        The true nature of the political left was exposed from 2020-2023, and the difference between conservatives and leftists was made undeniably clear – Red states were made free. Blue states tried to keep authoritarianism in place. Democrats embraced medical tyranny, conservatives did not. Conservatives left blue states (and blue cities) in droves because they were oppressive, red states gained millions of people and turned a deeper shade of red.  This is reality.

        Targeting Children For Indoctrination And Exploitation

        There’s no surer sign of authoritarianism than a group that recruits children as foot soldiers using political indoctrination under the noses of parents. Democrats and the woke movement have taken the mask off completely when it comes to America’s youth.

        The widespread used of woke symbols such a pride flags in public schools and libraries. The use of drag queen performances (often sexual) as a means to normalize baseless gender fluid theories, mental illness and sexual aberration. State government funding of sexualized content including graphic lessons and books for young kids. The list goes on and on.

        I can’t think of anything more insidious and evil as the leftist attempt to hijack American children as a weapon for their political coup. And make no mistake, the woke movement is not a movement for equality, it’s a communist and collectivist insurgency. They see children as tools, not as people.

        Democrats are going so far as to pass laws allowing children to engage in sex change procedures including hormone blockers and surgeries without parental consent. This is a monstrous policy that needs to be snuffed out immediately. Children are not capable of consent.

        Again, all this is being done in the name of winning. What is moral or ethical never crosses their minds.

        Mass Censorship And The Demonization Of “Radical Speech”

        Who nominated the Democrats to become the arbiters of acceptable speech? Well, they nominated themselves, and the protections of the 1st Amendment are being quietly degraded every day we allow them to continue acting as if they are the thought police.

        The new term being thrown around in 2024 is “radical speech”, meaning any speech that runs contrary to “diversity, equity and inclusion” requirements, or any speech that contradicts the preeminence of the official narrative. Understand that “radical speech” is an arbitrary label; one has to consider what the legitimate consequences are and what the intent is.

        For a Democrat, any speech that is detrimental to their goal of extorting public support for their policies suddenly becomes “radical.” The label is designed to elicit images of terrorism and fascism, as if mere words are magical and can compel the public to do great evil without them realizing it. This is childish fantasy based on projection. It’s leftists (collectivists) that believe words have magical powers, and so they put great emphasis on controlling speech in general.

        I would partially agree, only in the fact that lies do have power to evoke emotional responses, but the only way to combat lies is with the truth. Anyone who says that the best way to combat lies is to use mass censorship is a liar. Democrats lean heavily on mass censorship, as we have seen with nearly every Big Tech social media platform and corporate news platform in the past few years.

        The bottom line is this – When someone tells you exactly who they are, believe them. When a group of people show through a host of actions that they are authoritarians, they should not be allowed anywhere near power. It’s time to rethink our ongoing political relationship here in America and consider whether or not we should continue to live with a political movement that has made it so abundantly clear that they are hostile to freedom.

        *  *  *

        If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch.  Learn more about it HERE.

        Tyler Durden
        Fri, 04/12/2024 – 23:40

      • BJP Dominates Election Polls But Loses Southern India
        BJP Dominates Election Polls But Loses Southern India

        According to an opinion poll carried out in March in all of India’s 543 constituencies by India TV and CNX, Narendra Modi’s BJP and its allies are projected to win almost three quarters or 399 seats in India’s lower house Lok Sabha in this year’s national election which starts on April 19. Right now, the party’s National Democratic Alliance has 346 seats in the assembly, or 64 percent.

        As Statista’s Katharina Buchholz reports, a landslide victory of the BJP had been predicted previously.

        However, due to the loss of strategic allies and the party’s general weakness in the region, Modi’s results look less than perfect in India’s South, where constituents continue to vote for opposition parties like the Indian National Congress and its allies of the I.N.D.I.A. coalition. 

        Infographic: BJP Dominates Election Polls But Loses Southern India | Statista

        You will find more infographics at Statista

        Bloomberg Opinion points out that while the rejection of Modi in the South won’t matter this time around as the current prime minister has captured much of the populous North and Center, many of India’s progressive cities and regions are in this part of the country. Southern constituents are important for the country as a whole due to the region’s strong industries and flourishing economy but currently lack a sufficient voice in national politics, which has already led to friction with India’s leaders.

        In Tamil Nadu, popular voting choices include Dravida Munnetra Kazhagam (DMK), the socialist leading party expected to win 18 seats (46 percent). Congress itself is projected to take another eight seats (21 percent) in the state, while unaffiliated All India Anna Dravida Munnetra Kazhagam (AIADMK), which disassociated from the BJP last year, could win four (10 percent). In neighboring Kerala, the mostly-Congress aligned United Democratic Front (UDF) is expected to take 10 seats (50 percent) while another seven (35 percent) could fall to the communist-dominated Left Democratic Front (LDF), which has ruled the state legislature since 2016. In Telangana, Congress’ voting intentions would amount up to nine seats (53 percent).

        Other Southern states where the BJP is expected to fare worse than in India overall are Odisha and Andrah Pradesh. Here, more unaligned parties are expected to win big, including Telugu Desam Party (TDP) and the ruling Yuvajana Sramika Rythu Congress Party (YSRCP) in Andrah Pradesh as well as Biju Janata Dal (BJD) in Odisha, where it also heads the state legislature. States in other regions where the BJP has a weaker showing are Punjab, where the Aam Aadmi Party is expected to win six seats (46 percent) and West Bengal, home to the newly unaligned All India Trinamool Congress, expected to take 19 or 45 percent of seats.

        Tyler Durden
        Fri, 04/12/2024 – 23:20

      • Landmark Study Reveals 'Transgender' Kids Actually Have Other Mental Health Diagnoses
        Landmark Study Reveals ‘Transgender’ Kids Actually Have Other Mental Health Diagnoses

        Authored by Sara Parshaall Perry via The Epoch Times (emphasis ours),

        It’s been a red-letter week for destroying the gender narrative. And the trans juggernaut just hit another speed bump.

        Transitioning children not only harms them physically and psychologically, but it also causes medical conflicts. (Sangiao Photography/Shutterstock)

        Fresh off the heels of the National Association of Intercollegiate Athletics announcing that it would not allow transgender-identified men to compete in women’s athletic events in any of its association’s 239 small private schools, a landmark study was released on Wednesday that defies the hysterical warning that if gender dysphoric adolescents don’t receive “gender-affirming care,” they will kill themselves.

        The new study from British pediatrician Dr. Hilary Cass confirms what we’ve always known: Children presenting with sudden onset gender dysphoria are actually suffering from other mental health diagnoses—not true gender dysphoria. Her research debunks the gender ideologues’ frequent talking point: that the imposition of medical “gender-affirming care” on mentally ill children is not only necessary, but life-saving.

        Cass’ research instead reveals that children who think they are transgender disproportionately have mental health issues stemming from a difficult family situation or domestic abuse. They are also more likely to be neurodiverse and have a co-morbid autism spectrum disorder.

        Cass reveals that “gender affirming” medical interventions would not remedy any of these psychological issues. Effectively using such interventions would mean turning a blind eye to the real underlying psychological distress with which gender-confused children often struggle.

        Cass’ groundbreaking report reveals that mental health therapy is the best approach for gender-dysphoric children, rather than rushing to put them on hormones or puberty blockers or performing mutilating and irreversible surgeries.

        Her report also warns that if children are permitted to make choices to physically and socially conform with their gender of choice, rather than receiving the necessary treatment for their underlying mental health issues, they will experience significant negative psychological repercussions.

        Yes, you read that right. Securing medical “gender affirming” care creates the negative psychological repercussions gender identitarians warn us about. And the failure to receive it does not.

        At last, the narrative about adolescent gender dysphoria has started to crumble.

        Conservatives and gender critics have long warned against rushing to chemically castrate and mutilate gender-confused kids, advocating instead for the European approach of “watchful waiting” and mental health counseling. It seems they were right all along.

        Cass’ report on gender dysphoria was the second damning study to be released in 10 days. It was launched soon after another study that breaches the once seemingly impenetrable dam of gender identity built by the White House, cultural elites, celebrities, and politicized medical groups.

        A Dutch study of 2,700 children revealed that a significant majority of gender-confused children grow out of that feeling by the time they are full grown adults. This newly published research tracked adolescents for over 15 years and found that gender confusion in children drastically decreased over time, supporting the argument that when children believe they are transgender, it is often nothing more than a passing sensation—and not indisputable fact.

        Both Cass’ study and the recent Dutch study argue against transitioning kids who report gender dysphoria. Together, they advise for holistic treatment of these adolescents, treatment which addresses the complex psychological reasons a child may think he or she was born in the wrong body.

        Gender-confused children have been lied to, and the adults who have lied to them must be held accountable. The flood of litigation challenging these pernicious practices is only just beginning.

        Reprinted by permission from The Daily Signal, a publication of The Heritage Foundation.

        Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

        Tyler Durden
        Fri, 04/12/2024 – 23:00

      • Harvard To Once Again Require SATs For Admissions
        Harvard To Once Again Require SATs For Admissions

        Harvard is joining the ranks of other universities in recognizing the obvious: SATs are a great way to measure aptitude. And now that Harvard is busy grappling with other issues like plagiarism among its top ranks, it has decided to quietly shuffle SAT requirements back to where they were pre-Covid. 

        Harvard will reintroduce standardized testing requirements for admissions starting with the Class of 2029, deviating from its prior commitment to remain test-optional through the Class of 2030.

        This change, prompted by criticism as peers like Yale, Dartmouth, and Brown resumed mandatory testing, will affect applicants for fall and winter 2024, who must submit SAT or ACT scores unless exceptions apply. In specific cases where students can’t access these tests, Harvard will accept scores from Advanced Placement or International Baccalaureate exams instead, according to the Harvard Crimson.

        https://platform.twitter.com/widgets.js

        Dean of the Faculty of Arts and Sciences Hopi E. Hoekstra said:  “…standardized tests are a means for all students, regardless of their background and life experience, to provide information that is predictive of success in college and beyond. More information, especially such strongly predictive information, is valuable for identifying talent from across the socioeconomic range. With this change, we hope to strengthen our ability to identify these promising students.”

        Uh, yeah. That’s why it was a requirement to begin with. But we digress…

        The Crimson wrote that despite a majority of undergraduates submitting standardized test scores over the past four years, the exact figure has not been disclosed.

        Recently, Harvard officials, including Dean of Admissions William R. Fitzsimmons, were non-committal about reinstating testing requirements, noting ongoing policy reviews. However, a study from the Harvard-affiliated Opportunity Insights indicated that SAT scores are a better predictor of college success than high school GPA. Experts also suggest that requiring standardized tests could enhance racial and socioeconomic diversity at universities like Harvard.

        Harvard economist David J. Deming commented that test scores provide the “fairest admissions policy for disadvantaged applicants.”

        “Not everyone can hire an expensive college coach to help them craft a personal essay. But everyone has the chance to ace the SAT or the ACT,” he continued.

        Recall, we wrote just days ago that $500 tutors were back en vogue now that SATs were being reinstated. It was earlier this year when we noted that SATs were once again being reconsidered by colleges who had reduced or eliminated their requirement due to (pick one: diversity, racism, climate change, equity, gender affirmation). 

        As a result of the comeback, Bloomberg noted that tutors, sometimes costing $500 per hour, are all of a sudden back in vogue. They wrote that demand for SAT tutoring and prep centers is surging as several top colleges reintroduce mandatory SATs, and students adapt to the SAT’s new digital format.

        Kaplan reported a significant enrollment increase, attributed to digital testing and the reinstatement of testing requirements by institutions and three Ivy League schools—Yale, Dartmouth, and Brown—have reinstated mandatory SATs, alongside MIT and the University of Texas at Austin. This shift has left many students scrambling for preparation before early application deadlines.

        Companies like The Princeton Review have also seen a spike in interest for prep services.

        We noted earlier this year in a piece from American Greatness, that according to Axios, multiple colleges used the Chinese Coronavirus pandemic as an excuse to weaken the importance of SAT and ACT test scores in most student applications. But in recent weeks, several schools have reversed course; Yale is considering repealing its prior policy of making SAT/ACT requirements optional, with Dartmouth already reinstating the requirements earlier this month. MIT reversed a similar policy back in 2022.

        Tyler Durden
        Fri, 04/12/2024 – 22:40

      • Can The US And Iraq Move Beyond Military Ties?
        Can The US And Iraq Move Beyond Military Ties?

        Authored by James Durso via ResponsibleStatecraft.org,

        Prime Minister Mohammed Shia’ Al Sudani is in Washington next week with both sides hoping to expand their economic relationship…

        Twenty-one years ago, the U.S. and its allies invaded Iraq in the erroneous belief that the country possessed weapons of mass destruction and was allied with al-Qaida, the terror group responsible for the 9/11 attacks.

        The U.S. created an occupation authority, but failed to restore order and helped spawn the insurgency that bedeviled it by dismissing the entire Iraqi military and the most experienced civil servants. Coalition troops fought a losing battle, regained their footing with the 2007 troop surge, and finally departed in 2011. U.S. troops returned in 2014 to fight the Islamic State and they remain there to this day, though ISIS was largely eliminated by 2019.

        In January 2020, Iraq’s parliament voted on a nonbinding measure to remove the U.S. troops from Iraq, but the Americans remain at the request of the Iraqi government. However, in response to the parliament’s 2020 vote, Iraq and the International Coalition changed the mission of the troops from a combat mission to one of advisory and training.

        Iraq’s prime minister, Mohammed Shia’ Al Sudani, will meet U.S. President Joe Biden on April 15, primarily to discuss the U.S. troop presence.

        Though the U.S.-Iraq Higher Military Commission is reviewing the troop presence issue, will the U.S. side stall fearing it may have to agree to a smaller presence and constrained operations?

        Possibly, so Sudani may want a public commitment from Biden to force the march to a constructive, timely decision.

        Aside from the troops issue, Sudani wants to strengthen Baghdad’s ties with Washington, which he considers Iraq’s top bilateral relationship, and to add an economic dimension to Iraq’s ties with America.

        When Americans think of Iraq in economic terms it’s all about the oil, but in November 2023 ExxonMobil, America’s biggest oil company, exited Iraq with nothing to show for a decade-long effort.

        The departure will lower the expectation of other U.S. companies, but Sudani wants to revitalize economic ties, and he will be accompanied by many of the country’s top businessmen.

        U.S.-Iraq trade has room for growth.

        In 2022, the U.S. exported $897 million in goods, the top product being automobiles. Iraq, in turn, exported $10.3 billion in goods, most of it crude oil.

        A key economic objective of Iraq is the $17 billion Development Road, an overland road and rail link from the Persian Gulf to Europe via Turkey, that will host free-trade zones along its length.

        Biden and Sudani should consider the shape of the future U.S.-Iraq relationship, which has to now been governed by military considerations, and has become the best example of The Meddler’s Trap, “a situation of self-entanglement, whereby a leader inadvertently creates a problem through military intervention, feels they can solve it, and values solving the new problem more because of the initial intervention. …A military intervention causes a feeling of ownership of the foreign territory, triggering the endowment effect.”

        Iraq is the only real democracy in the Arab world, and many young Iraqis want a separation of religion and state, something that should resonate with Americans and, Iraqis hope, cause the U.S. to deal with Iraq as Iraq, not a platform for operations against Syria and Iran, or to support Washington’s Kurdish clients.

        Washington damaged itself in Iraq by killing Popular Mobilization Forces (PMF) leader Abu Mahdi al-Muhandis in January 2020. Baghdad had moved the PMF, once a militia, into the government in 2016 (no doubt with American encouragement), so the killing of Muhandis, then a government official, increased popular support the PMF.

        What are some clouds on the horizon for the U.S. and Iraq?

        Corruption. Pervasive corruption in Iraq has slowed economic development and subjected Iraqi citizens to ineffective governance. The 2023 Corruption Perceptions Index by Transparency International ranked Iraq 154 of 180, a slight improvement from 2022 when it ranked 157 of 180.

        Iraq was previously described by TI as: “Among the worst countries on corruption and governance indicators, with corruption risks exacerbated by lack of experience in the public administration, weak capacity to absorb the influx of aid money, sectarian issues and lack of political will for anti-corruption efforts.”

        Sudani has not ignored corruption, calling it one of the country’s greatest challenges and “no less serious than the threat of terrorism.”

        Elizabeth Tsurkov. Tsurkov is a Russian-Israeli academic who was kidnapped in 2023 by Kata’ib Hezbollah, an Iranian-influenced Iraqi militia. Tsurkov, a doctoral student at Princeton University in the U.S., entered Iraq with her Russian passport and did not disclose that she was an Israeli citizen and Israeli Defense Forces veteran. (A 2022 Iraqi law criminalized any relations with Israel.)

        Tsurkov’s family wants the Biden administration to designate Iraq a state sponsor of terrorism for failing to secure her release. Sudani’s office announced an investigation into the matter and the issue may arise when Sudani meets Biden, though the best outcome for Iraq and the U.S. is a Russia-brokered deal between Israel and Iran.

        If Biden designates Iraq a state sponsor of terrorism that will irreparably damage the relationship and open the door for China.

        China. The U.S. is Iraq’s top relationship, but not its only relationship. China will respond to the ostracism of Baghdad by extending invitations to the Shanghai Cooperation Organization and BRICS, the latter of which can fund infrastructure projects through the New Development Bank. PetroChina replaced ExxonMobil in West Qurna 1, one of Iraq’s biggest oil fields, and is ideally positioned for further expansion. And Iraq was the “leading beneficiary” of China’s Belt and Road Initiative investment in 2021.

        Sudani has said Iraq should not be a cockpit of conflict for the U.S. and Iran, but when Iran is concerned it, in Washington, is always 1979.

        Though Sudani has many challenges to face, Biden has more: he must reorient his government away from its colonial mentality in West Asia, recognize that Baghdad must reach a modus vivendi with Tehran that may not be to Washington’s pleasure, and not smooth the way for Beijing’s greater penetration of West Asia.

        Tyler Durden
        Fri, 04/12/2024 – 22:20

      • Google Begins Blocking News From California Outlets Over State Bill
        Google Begins Blocking News From California Outlets Over State Bill

        Google has temporarily blocked access to California-based news outlets for some state residents, as the search giant escalates its battle with the state over a landmark bill which would force tech giants to pay online publishers for their content.

        In doing so, the company has revived a political tactic used repeatedly by the tech industry to try and derail similar legislation in places like Canada and Australia which require online platforms to pay outlets for articles featured on their websites, Politico reports.

        “We have long said that this is the wrong approach to supporting journalism,” said Google’s VP for global news partnership, Jaffer Zaidi, in a Friday blog post. According to Zaidi, the bill could “result in significant changes to the services we can offer Californians and the traffic we can provide to California publishers.”

        Sacramento is hosting the latest round of a global fight over the journalism industry’s future in the digital age, and California’s battle has taken on additional resonance because the state is home to tech titans. Advocates for such legislation argue companies like Google and Meta have helped decimate already flagging newsroom revenues through their control over digital advertising, and outlets deserve compensation for content that users may see on their platforms for free.

        The companies counter that these laws could stifle vital sources of information — and they’ve fought back by attempting to preview what they say that would look like. -Politico

        In Canada, Google similarly threatened to block content before reaching a deal with the government last November, three weeks before the ‘Online News Act’ came into effect. The company agreed to make annual payments to news outlets in the range of $100 million.

        Meta, meanwhile, has completely removed news content from its social feed in Canada, and has threatened to do the same in California – where the company has lobbied heavily against the measures currently under consideration in the state legislature. The company has spent over $1 million to run an ad campaign decrying the bill as a “link tax,” a phrase Zaidi used in his blog post.

        According to state Sen. Ben Allen (D), “Newspaper publishers and the journalists provide a really important service as a part of [Google’s] broader business model, and meanwhile they’re going bankrupt and you guys have record profits.“

        Tyler Durden
        Fri, 04/12/2024 – 22:00

      • Did Lockdowns Set A Global Revolt In Motion?
        Did Lockdowns Set A Global Revolt In Motion?

        Authored by Jeffrey Tucker via The Brownstone Institute,

        My first article on the coming backlash – admittedly wildly optimistic – went to print April 24, 2020.

        After 6 weeks of lockdown, I confidently predicted a political revolt, a movement against masks, a population-wide revulsion against the elites, a demand to reject “social distancing” and streaming-only life, plus widespread disgust at everything and everyone involved.

        I was off by four years. I wrongly assumed back then that society was still functioning and that our elites would be responsive to the obvious flop of the whole lockdown scheme. I assumed that people were smarter than they proved to be. I also did not anticipate just how devastating the effects of lockdown would be: in terms of learning loss, economic chaos, cultural shock, and the population-wide demoralization and loss of trust.

        The forces that set in motion those grim days were far more deep than I knew at the time. They involved a willing complicity from tech, media, pharma, and the administrative state at all levels of society.

        There is every evidence that it was planned to be exactly what it became; not just a foolish deployment of public health powers but a “great reset” of our lives. The newfound powers of the ruling class were not given up so easily, and it took far longer for people to shake off the trauma than I had anticipated.

        Is that backlash finally here? If so, it’s about time.

        New literature is emerging to document it all.

        The new book “White Rural Rage: The Threat to American Democracy” is a viciously partisan, histrionic, and gravely inaccurate account that gets nearly everything wrong but one: vast swaths of the public are fed up, not with democracy but its opposite of ruling class hegemony.

        The revolt is not racial and not geographically determined. It’s not even about left and right, categories that are mostly a distraction. it’s class-based in large part but more precisely about the rulers vs. the ruled.

        With more precision, new voices are emerging among people who detect a “vibe change” in the population.

        One is Elizabeth Nickson’s article “Strongholds Falling; Populists Seize the Culture.”

        She argues, quoting Bret Weinstein, that:

        “The lessons of [C]ovid are profound. The most important lesson of Covid is that without knowing the game, we outfoxed them and their narrative collapsed …. The revolution is happening all over the socials, especially in videos. And the disgust is palpable.”

        A second article is “Vibe Shift” by Santiago Pliego:

        “The Vibe Shift I’m talking about is the speaking of previously unspeakable truths, the noticing of previously suppressed facts. I’m talking about the give you feel when the walls of Propaganda and Bureaucracy start to move as you push; the very visible dust kicked up in the air as Experts and Fact Checkers scramble to hold on to decaying institutions; the cautious but electric rush of energy when dictatorial edifices designed to stifle innovation, enterprise, and thought are exposed or toppled. Fundamentally, the Vibe Shift is a return to—a championing of—Reality, a rejection of the bureaucratic, the cowardly, the guilt-driven; a return to greatness, courage, and joyous ambition.”

        We truly want to believe this is true. And this much is certainly correct: the battle lines are incredibly clear these days. The media that uncritically echo the deep-state line are known: Slate, Wired, Rolling Stone, Mother Jones, New Republic, New Yorker, and so on, to say nothing of the New York Times. What used to be politically partisan venues with certain predictable biases are now more readily described as ruling-class mouthpieces, forever instructing you precisely how to think while demonizing disagreement.

        After all, all of these venues, in addition to the obvious case of the science journals, are still defending the lockdowns and everything that followed. Rather than express regret for their bad models and immoral means of control, they have continued to insist that they did the right thing, regardless of the civilization-wide carnage everywhere in evidence, while ignoring the relationship between the policies they championed and the terrible results.

        Instead of allowing their mistakes to change their own outlook, they have adapted their own worldview to allow for snap lockdowns anytime they deem them necessary. In holding this view, they have forged a view of politics that it is embarrassingly acquiescent to the powerful.

        The liberalism that once questioned authority and demanded free speech seems extinct. This transmogrified and captured liberalism now demands compliance with authority and calls for further restrictions on free speech. Now anyone who makes a basic demand for normal freedom—to speak or choose one’s own medical treatment or to decline to wear a mask—can reliably anticipate being denounced as “right-wing” even when it makes absolutely no sense.

        The smears, cancellations, and denunciations are out of control, and so unbearably predictable.

        It’s enough to make one’s head spin. As for the pandemic protocols themselves, there have been no apologies but only more insistence that they were imposed with the best of intentions and mostly correct. The World Health Organization wants more power, and so does the Centers for Disease Control and Prevention. Even though the evidence of the failure of pharma pours in daily, major media venues pretend that all is well, and thereby out themselves as mouthpieces for the ruling regime.

        The issue is that major and unbearably obvious failures have never been admitted. Institutions and individuals who only double down on preposterous lies that everyone knows are lies only end up discrediting themselves.

        That’s a pretty good summary of where we are today, with vast swaths of elite culture facing an unprecedented loss of trust. Elites have chosen the lie over truth and cover-up over transparency.

        This is becoming operationalized in declining traffic for legacy media, which is shedding costly staff as fast as possible. The social media venues that cooperated closely with government during the lockdowns are losing cultural sway while uncensored ones like Elon Musk’s X are gaining attention. Disney is reeling from its partisanship, while states are passing new laws against WHO policies and interventions.

        Sometimes this whole revolt can be quite entertaining.

        When the CDC or WHO posts an update on X, when they allow comments, it is followed by thousands of reader comments of denunciation and poking fun, with flurries of comments to the effect of “I will not comply.”

        DEI is being systematically defunded by major corporations while financial institutions are turning on it. Indeed, the culture in general has come to regard DEI as a sure indication of incompetence. Meanwhile, the outer reaches of the “great reset” such as the hope that EVs would replace internal combustion have come to naught as the EV market has collapsed, along with consumer demand for fake meat to say nothing of bug eating.

        As for politics, yes, it does seem like the backlash has empowered populist movements all over the world. We see them in the farmers’ revolt in Europe, the street protests in Brazil against a sketchy election, the widespread discontent in Canada over government policies, and even in migration trends out of US blue states toward red ones. Already, the administrative state in D.C. is working to secure itself against a possible unfriendly president in the form of Donald Trump or RFK, Jr.

        So, yes, there are many signs of revolt. These are all very encouraging.

        What does all this mean in practice? How does this end? How precisely does a revolt take shape in an industrialized democracy? What is the mostly likely pathway for long-term social change?

        These are legitimate questions.

        For hundreds of years, our best political philosophers have opined that no system can function in a sustainable way in which a huge majority is coercively governed by a tiny elite with a class interest in serving themselves at public expense.

        That seems correct. In the days of the Occupy Wall Street movement of 15 years ago, the street protesters spoke of the 1 percent vs. the 99 percent. They were speaking of those with the money inside the traders’ buildings as opposed to the people on the streets and everywhere else.

        Even if that movement misidentified the full nature of the problem, the intuition into which it tapped spoke to a truth. Such a disproportionate distribution of power and wealth is dangerously unsustainable. Revolution of some sort threatens. The mystery right now is what form this takes. It’s unknown because we’ve never been here before.

        There is no real historical record of a highly developed society ostensibly living under a civilized code of law that experiences an upheaval of the type that would be required to unseat the rulers of all the commanding heights. We’ve seen political reform movements that take place from the top down but not really anything that approximates a genuine bottom-up revolution of the sort that is shaping up right now.

        We know, or think we know, how it all transpires in a tinpot dictatorship or a socialist society of the old Soviet bloc. The government loses all legitimacy, the military flips loyalties, there is a popular revolt that boils over, and the leaders of the government flee. Or they simply lose their jobs and take up new positions in civilian life. These revolutions can be violent or peaceful but the end result is the same. One regime replaces another.

        It’s hard to know how this translates to a society that is heavily modernized and seen as non-totalitarian and even existing under the rule of law, more or less. How does revolution occur in this case? How does the regime come around to adapting itself to a public revolt against governance as we know it in the US, UK, and Europe?

        Yes, there is the vote, if we can trust that. But even here, there are the candidates, which are that for a reason. They specialize in politics, which does not necessarily mean doing the right thing or reflecting the aspirations of the voters behind them. They are responsive to their donors first, as we have long discovered. Public opinion can matter but there is no mechanism that guarantees a smoothly responsive pathway from popular attitudes to political outcomes.

        There is also the pathway of industrial change, a migration of resources out of legacy venues to new ones. Indeed, in the marketplace of ideas, the amplifiers of regime propaganda are failing but we also observe the response: widened censorship. What’s happening in Brazil with the full criminalization of free speech can easily happen in the US.

        In social media, were it not for Elon’s takeover of Twitter, it’s hard to know where we would be. We have no large platform in which to influence the culture more broadly. And yet the attacks on that platform and other enterprises owned by Musk are growing. This is emblematic of a much more robust upheaval taking place, one that suggests change is on the way.

        But how long does such a paradigm shift take? Thomas Kuhn’s “The Structure of Scientific Revolutions” is a bracing account of how one orthodoxy migrates to another not by the ebb and flow of proof and evidence but through dramatic paradigm shifts. An abundance of anomalies can wholly discredit a current praxis but that doesn’t make it go away. Ego and institutional inertia perpetuate the problem until its most prominent exponents retire and die and a new elite replaces them with different ideas.

        In this model, we can expect that a failed innovation in science, politics, or technology could last as long as 70 years before finally being displaced, which is roughly how long the Soviet experiment lasted. That’s a depressing thought. If this is true, we still have another 60 plus years of rule by the management professionals who enacted lockdowns, closures, shot mandates, population propaganda, and censorship.

        And yet, people say that history is moving faster now than in the past. If a future of freedom is ours just lying in wait, we need that future here sooner rather than later, before it is too late to do anything about it.

        The slogan became popular about ten years ago: the revolution will be decentralized with the creation of robust parallel institutions. There is no other path.

        The intellectual parlor game is over. This is a real-life struggle for freedom itself. It’s resist and rebuild or doom.

        Tyler Durden
        Fri, 04/12/2024 – 21:40

      • Buying Votes: Biden Cancels Student Debt For 277,000 Borrowers Ahead Of Presidential Elections
        Buying Votes: Biden Cancels Student Debt For 277,000 Borrowers Ahead Of Presidential Elections

        On Friday, President Joe Biden announced that he would cancel the federal student debt of more than 277,000 Americans, equating to about $7.4 billion. This would bring the total of what is considered classical vote buying ahead of the November presidential elections to more than $153 billion, or forgiving the debt of 4.3 million people.

        The majority of the 277,000 Americans who were forgiven federal student debt were enrolled in the government’s income-driven repayment plan, known as SAVE, which promises borrowers to forgive their debts after ten years of loan repayments. 

        The White House touted: 

        Since President Biden took office, his administration has approved over $54 billion in debt cancellation for 1.3 million borrowers enrolled in income-driven repayment plans, including the new SAVE Plan. This builds on additional actions the Biden-Harris Administration has taken to cancel debt for nearly 900,000 public service workers, 1.3 million borrowers cheated by their schools or borrowers covered by related court settlements, and nearly 550,000 borrowers with a total and permanent disability, including many veterans.

        Earlier this week, the Biden administration announced new student loan plans that would begin canceling federal student debt up to $20,000 in interest for millions of borrowers and total loan forgiveness for millions more. Those who qualify for the government’s income-driven repayment plan would have the full balance of their unpaid interest forgiven, benefiting at least 25 million Americans. 

        “This latest round of debt cancellation comes on the heels of President Biden announcing new plans that, if implemented, would cancel student debt for over 30 million Americans when combined with actions the Administration has taken over the last three years,” the White House said.

        Meanwhile, a seven-state coalition filed a new lawsuit on Monday challenging the “most generous ever” federal student loan repayment plan.

        In the complaint filed in federal court in Missouri, the seven states argued that SAVE is another unlawful attempt to force taxpayers to shoulder the bill for others. 

        “Just last year, the [U.S.] Supreme Court struck down an attempt by the President to force teachers, truckers, and farmers to pay for the student loan debt of other Americans—to the enormous tune of $430 billion,” the states wrote in the complaint, explaining how the high court’s 6-3 majority explicitly ruled that the president shall not sidestep Congress in making a decision that could have a significant impact on the economy. 

        “Undeterred, the President is at it again, even bragging that the Supreme Court blocked it. They blocked it. But that didn’t stop me,'” the complaint added.

        The administration’s latest student debt push is a sign of desperation. It comes as Bidenomics has been a gigantic failure and risks causing a sovereign debt crisis. Gold’s push to record highs is figuring this one out. 

        https://platform.twitter.com/widgets.js

        Also, inflation has been reaccelerating for months while nationwide gasoline pump prices inch closer to the politically sensitive $4 level. And if the inflation storm wasn’t enough, the nation has been swamped by a White House-facilitated illegal alien invasion as progressive cities burn under failed social justice reforms. 

        What’s worse, the Biden administration’s foreign policy has been an epic disaster as the world moves closer to World War III in Eastern Europe and the Middle East. Still, don’t forget about what’s happening in the Pacific. 

        This is why the White House must buy votes… 

        What better way to distract voters about the failures of this administration and the inflation storm crushing the working poor than to distract with socialist policies of ‘free stuff’ – such as canceling student loan debt… 

        Tyler Durden
        Fri, 04/12/2024 – 21:20

      • 20 Women Soccer Players Withdraw From League Over Transgender Players
        20 Women Soccer Players Withdraw From League Over Transgender Players

        Authored by Jim Birchall via The Epoch Times,

        Concerns over the physical safety of female-born football (soccer) players competing against transgender athletes have compelled at least 20 players to quit, according to a source from within a Sydney-based league.

        Calling itself the “biggest LGBTQIA+ women’s and non-binary football club in the world,” the Flying Bats FC has made international headlines for fielding 5 self-identifying transgender players, with at least nine transgender players in the wider NorthWest Association.

        Critics have said the Bat’s domination of the four-week pre-season Beryl Ackroyd Cup, which followed an undefeated season in 2023 that produced scorelines disproportionate to other teams’ results, was a direct result of the inclusion of male-born transgender players.

        According to the feminist and pro-woman online news source, Reduxx, president of St. Patrick’s Football Club Frank Parisi said a March discussion over the Flying Bats FC’s ease of victories had prompted an informal meeting with stakeholders of the Northwest Sydney Football Association to address “concerns around how implausible it has become for any team to win against the Flying Bats as well as physical safety concerns.”

        Incensed by the Flying Bats’ domination, other clubs asked the league’s governing body Football NSW to force them into playing in a mixed-sex league.

        One club official told the Daily Telegraph, “Our girls are here to play for fun and expect to play in the female competition. They did not sign up for a mixed competition. It was so disheartening for them to see the huge difference in ability—they’re killing it.”

        The involvement of transgender athletes in sports is a current hot-button issue, as policymakers grapple with how to balance the effects on women’s players, versus the “rights” of female-identifying players born as biological men.

        Advocates argue that transgender individuals should be able to participate in sports according to their gender identity, while opponents raise concerns about fairness and competitive advantage.

        One of the key points of contention is the impact of testosterone levels on athletic performance.

        Testosterone affects muscle mass, strength, and endurance, and transgender males who have undergone hormone therapy to transition may still have higher testosterone levels than cisgender females, providing a competitive advantage in women’s sports.

        Pro-transgender inclusion campaigners argue for allowing individuals to compete according to their gender identity, regardless of hormone levels. They argue that excluding transgender athletes from women’s sports is discriminatory and goes against principles of inclusion and equality.

        Teams Could be Punished for Forfeiting Matches

        Despite the arguments for and against inclusion, anecdotal evidence has emerged of severe injuries being sustained by female players playing against the Flying Bats.

        In audio of the Northwest Sydney Football Association meeting leaked to social media, Frank Parisi detailed an incident whereby a female player’s leg was broken during a game;

        “A couple of year ago, one of the Flying Bats players broke one of our players’ legs in a game. It was a clumsy tackle from behind. Our player had her leg broken in two places and she’s no longer playing football. It was a direct result of a real bad, tall player… he didn’t get a red card.

        “Accidents happen, but this could have been avoided,” Mr. Parisi said.

        “One of our players rushed over to try to help her, she was screaming in so much pain. At that time, she made a derogatory remark to the Bats’ player, which we apologised for. [She was] suspended (for 8 weeks). The Bats player, nothing happened to [him].”

        Trans activist and former YouTuber Riley Dennis was also involved in football in NSW and came under criticism while playing for the Inter Lions FC in NSW Women’s Premier League 2 for injuring a female player who required hospital attention.

        Mr. Parisi said at the meeting, 24 women had recently withdrawn from his club’s team.

        “There’s a massive impact. I’m a very small club, we’ve only got seven teams … and now I’ve lost both my women’s teams, and it was a direct result of members of the Flying Bats who were male playing in a female competition.”

        Complicating affairs is a directive from Football NSW and Football Australia that allows players “to participate in football on the basis of the gender with which they identify.”

        The clause is consistent with the Australian Human Rights Commission’s guidelines on transgender athlete participation.

        Speaking with the Daily Mail, North West Sydney Football (NWSF) CEO Matthew Geracitano said he had heard a team that chooses not to play against the Flying Bats could potentially be censured for an “act of discrimination.”

        “In response to a direct question from a member Club, NWSF reminded stakeholders that NWSF’s Grievance and Disciplinary Regulations apply sanctions for teams who forfeit games in any competition and that these regulations have been in place for many years.”

        Read more here…

        Tyler Durden
        Fri, 04/12/2024 – 21:00

      • Hummer Reportedly Kills EV Base 2 Trim Level As Demand Cools 
        Hummer Reportedly Kills EV Base 2 Trim Level As Demand Cools 

        In the latest setback, General Motors has ditched the base trim level for the Hummer EVs, according to a new report from the autoblog GM Authority. The legacy automaker has delayed and slowed its EV initiative in recent months as the industry continues to slide. 

        GM Authority has learned that there will be no “base” 2 trim level for the Hummer EV, as was originally announced. As background, the 2 trim was supposed to arrive for the 2024 model year for both the Hummer EV Pickup and Hummer EV SUV, but it seems as though the automaker changed its plans. Moving forward, there will be no 2 model for the 2025 model year.

        For GM guys and gals who were promised Hummer EVs with base trims and lower prices (starting around  $79,995 and offer 250 miles of range), the report from GM Authority does not bode well for EV price affordability. 

        This also comes as GM delayed the launch of its Toledo EV Propulsion Systems plant in Ohio by nine months. It will start operating in late 2024. GM said it will “retime the launch of Electric Drive Unit at the plant to Q4 2024 in order to better align with Orion Assembly’s planned production schedule.”

        Furthermore, GM has announced production delays of EV trucks at its Orion assembly until late 2025, including the Chevy Silverado RST and GMC Sierra Denali EVs. 

        Consumer appetite for EVs is rapidly cooling. And legacy automakers have felt the brunt of the slowdown. 

        Last week, Ford Motor said it was postponing production of a new three-row SUV as it pushes the delivery date from late 2025 to 2026 and will focus on hybrid options across its entire North American lineup. 

        Even Tesla Motors, the leader in the EV space, is experiencing a slowdown in sales. 

        “Tesla is going from the golden era to a really challenging era,” said Mark Fields, a former CEO of Ford Motor. 

        As legacy automakers face waning demand and mounting delays in debuting EV SUVs and trucks, Tesla’s Cybertruck is in massive demand, and production is being ramped up. 

        Tyler Durden
        Fri, 04/12/2024 – 20:40

      • School District Takes Next Step In Ditching Seattle Gifted Program
        School District Takes Next Step In Ditching Seattle Gifted Program

        Authored by Jason Rantz via mynorthwest.com (emphasis ours),

        Privileged progressives, donning their white knight armor, are in the next phase of a plan to end Seattle Public Schools’ gifted students program — known locally as its Highly Capable Cohort (HCC). They complained the HCC was too white.

        (Photo courtesy of KIRO 7)

        HCC separates academically gifted students from others via different classrooms or entirely different schools. But in 2020, white Seattle school board directors voted to terminate the HCC over the objections of parents. HCC will be completely phased out by the 2027-28 school year. 

        Outraged more by the success of white and Asian students than by the untapped potential of black and Hispanic pupils, progressives would rather drag achievers down than elevate everyone. These self-proclaimed saviors boast on social media about tackling inequities, oblivious to the harm they inflict. Indeed, the program to replace the HCC, and be implemented in every classroom, ensures that gifted students will be unchallenged, struggling students will escape the attention they deserve and teachers will be overwhelmed. In other words, everyone will be equitably harmed.

        More from Jason Rantz: Seattle English students told it’s ‘white supremacy’ to love reading, writing

        Why did Seattle Public Schools gifted program end?

        Critics argued the students in HCC did not reflect the diversity of the community. The move was prompted by Black Lives Matter activism.

        In 2018, three years after Seattle Public Schools (SPS) hired an “equity specialist” to address so-called racial inequities, the students HCC served 13% multiracial, 11.8% Asian, 3.7% Hispanic and 1.6% black. (By 2023, it was 20% multiracial, 16% Asian, 8.2% Hispanic and 3.4% black.) Critics argue that because the HCC didn’t match the district’s diversity, the program was irredeemably racist and needed to be dismantled.

        But parents, including those who are black, Asian and Hispanic, argued against closing them down. They argued that SPS should work harder to identify minority students who are eligible for HCC, rather then kill the program entirely.

        One father pleaded that the Seattle School Board “consider the disservice you would be doing to the minorities that are already in the HCC program.” He argued that the gifted program “does more for Black children, particularly Black boys, than it does for their peers.”

        But the extremist Seattle School Board was unmoved.

        Then-director Chandra Hampson accused black parents supporting the HCC as being “tokenized” by white Seattle parents. 

        What is replacing the gifted highly capable cohort program?

        The “whole-classroom model” is replacing HCC and be implemented in each classroom starting in the 2024-25 school year. It’s unworkable.

        Read the rest here…

        Tyler Durden
        Fri, 04/12/2024 – 20:20

      • The Freedom That Once Was The Internet
        The Freedom That Once Was The Internet

        Authored by Jeffrey A. Tucker via The Epoch Times (emphasis ours),

        It’s time to declare as regards the internet of old: Requiescat in Pace.

        In this photo illustration an internet page is displayed on a computer screen in London, England, on April 13, 2006. (Scott Barbour/Getty Images)

        It’s dead. We might as well face it.

        Nearly every large application and website in existence, meaning most of what people use on what we call the internet, constituting an estimated 95 percent of the main portals of information, is now compromised by some power somewhere, making them no longer part of the free world and no longer part of the army of truth.

        If that shocks you, you haven’t used Google or Facebook recently. They are both heavily rigged not to get you the information you want but rather to push out to you information that someone somewhere wants you to have. And the situation is getting worse, not better. This is despite impending court challenges that are hoping for a restoration of free speech. If there were a serious threat that this would happen, wouldn’t we see the censored venues improve and not worsen?

        The situation is heartbreaking and gives rise to melancholic reflections on the promise and betrayal.

        My fear is that hardly anyone remembers a time when the internet held out the highest hope in modern history for the emancipation of humanity from the control of the powerful. I had a model in my own head of a mass migration out of the controlled and regulated physical world and into a digital realm that was so large, so potentially infinite in scope, containing so many nodes and so many content providers, that states would be hopeless in the face of it.

        Yes, I was the paradigmatic case of the techno-utopian who got bitten by the bug of progress in about 1996. I was sitting there at my desk, newly aware of these things called websites, and managing one myself. I put up a few old issues of a newsletter. A few days later, I needed to look at that newsletter. I saw it sitting across the room. At that moment, I suddenly realized that it would actually be easier just to look at it online.

        Now, you might laugh when you hear that story. But keep in mind that at that point in history, most people had no idea of the extent of the power of this tool. I did not. I knew that I could post things and they would appear on a screen. But it wasn’t until that moment that it suddenly dawned on me. By posting anything online, I could liberate any bit of information from the physical world, in which only I could have access so long as I was sitting there, and give that same piece of information to millions and billions of people, possibly forever.

        I did a deep intake of air in a state of shock and amazement. I immediately knew what my task was. I was determined to get every valuable piece of content in my possession and scan and post in every possible format. I was surrounded by out-of-print items of every sort. I got to work, piece by piece, putting it all up there for the world. I knew it would likely take me the rest of my career to do this but it was joyful work, work that would free the world. I would do my part.

        It was two years later when a friend wrote me: “I have the name of a new search engine you absolutely have to try.”

        “What’s wrong with AltaVista?” I asked.

        “Nothing but this one is far better. It’s called Google.”

        Sure enough, it was better. We all adopted Google as a friend. And it was for a very long time. It only improved day by day, and eventually solve the problem of email spam that was the biggest threat to software functioning at the time.

        In those days, those of us playing with all these new tools felt like insiders and revolutionaries. We learned to code. We ate and slept HTML, and later learned to separate content and presentation with style sheets. We learned to manage servers and then build online databases to economize on processes to avoid tangles. We played with image formats and sizes. We learned about maximizing speed and search engine access. Every day, we learned a new trick and deployed it.

        Goodness, those were heady times. We wore thumb drives from strings around our necks and were constantly plugged in, as builders of the new world.

        We felt like we were part of a community, a global one, with the same ideals. Information naturally wanted to be free, we theorized and we believed, and it was up to us to make that happen. Nothing could stop us, not even governments. With unbreakable encryption not even backdoors to servers could do the trick. I ended up writing two full books on the thesis that the more we digitize everything, the freer we would become.

        Truth is that everything around us seemed to confirm this view. Social media came along as did video services and free video calling plus every form of instant message to connect us instantly with anyone on the planet. When translation tools became available, even language barriers were breaking down.

        My scanning and publishing projects had gone on hyperdrive. I put in several thousand books plus old journals plus diaries plus newsletters and magazines. And I cooperated with teams around the world to make them into digital books and then print books and searchable databases. The universe of information we were creating scaled and scaled and there seemed to be no limit to the abundance of connectivity and information that would pass through these magical tubes that were connecting the planet from one end to the other, regardless of nation states.

        Was it always an illusion? Probably. The point is that the internet at its height was built by people (like me) who believed in it and worked toward achieving the ideal.

        The ideal became gradually compromised over time. Copyright claims wrecked the idea of putting all knowledge online, as the Google Books program quickly discovered. Patent claims stopped the development of new tools, and did their part to consolidate the industry. Gradually what led to institutional power on the internet was not use or innovation but war chests of claims of “intellectual property.”

        Such claims were inherently at war with what the internet wanted to be. I joined a band of brothers and sisters who were going to get rid of such old-fashioned rules and replace them with new ones, including file sharing apps and open declarations of Creative Commons licensing. Indeed, we had everything solved, a perfect way forward.

        We forget one thing: the long historical trajectory of powerful states and their powerful corporate allies to work together to consolidate control and exploit the rest of humanity. As it turned out, there was no technical solution to that problem, no code, no app, no legal trick, no innovation, and not even a mass movement. The cartels got busy to regain control.

        I’m going to date this new period of consolidation from about 2012 onward. It’s hard to say exactly when it all took shape but it was at some point during the Obama years. The antitrust lawsuit against Microsoft was the warning shot: play ball with the state or we will break you up. That threat is still with us.

        Looking back, it’s clear that some people in government and corporate boardrooms simply declared: this new freedom that people think they have cannot work for stabilizing our power. We have to bring it to an end. The new world will operate more like the old.

        The victory of Brexit in the UK and the election of Donald Trump in 2016 terrified elites the world over, and these seemed to be backed by growing populist movements far and wide. It was at this point that powerful interests simply decided that internet freedom had not worked for their interests. They decided to declare it to be over.

        There were three steps in this process.

        First, consolidate the industries, so that we only have to deal with a few rather than many: Google, Microsoft, Facebook, and a few others. Have them buy up any and all innovative competitors and either rope them into their operations or shut them down completely.

        Second, erect high regulations in the industry to make sure that these main players are permanent and not challenged anymore by punks in a garage somewhere.

        Third, embed regime-sympathetic managers and investors at these institutions and gradually turn them from serving the public to serving the regime.

        The lockdown games of 2020 and following were their chance to deploy their new machine of censorship and control to see just how well they worked to propagandize the population. As it turns out, they worked pretty well. And that leaves only one last step: criminalize all speech that contradicts that which is approved.

        That is happening in Brazil. The United States is next. China is the model of control.

        Fortunately and for now, the work of many of us from the past survives in various forms but for how long? It is clear where we are headed. The power elite want the internet to work exactly like media of old: three channels saying all the same thing forever.

        Will they get away with it? So far it is working. Of the internet dreams of old, we can say: The dream was betrayed at multiple levels and in ways is worthy of great novels.

        To gain full control of the internet as a means of managing the public mind, however, is going to take far more than consolidation and surreptitious infiltration. To complete the task will require a level of population coercion on a scale we’ve never seen in history. Possible? Doubtful.

        As for the dream of achieving freedom itself, we will always say: “Per aspera ad astra.”

        Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

        Tyler Durden
        Fri, 04/12/2024 – 19:40

      • Biden Punishes Drillers With 15-Fold Increase In Permitting Costs, Plans To Block Arctic Oil Extraction
        Biden Punishes Drillers With 15-Fold Increase In Permitting Costs, Plans To Block Arctic Oil Extraction

        One week after the Biden administration slapped new regulations on key power grid components, the Washington Post reports that US oil and gas companies will face a 15-fold increase in costs to drill on federal land, under a new rule released on Friday.

        Workers operate a drilling rig while plugging an abandoned oil well north of Shelby, Mont. (Adrián Sanchez-Gonzalez for The Washington Post) (Adrian Sanchez-Gonzalez/For The Washington Post)

        Under it, the Interior Department’s Bureau of Land Management will require drillers to pay $150,000 per lease on federal lands, up from $10,000 – the first comprehensive update to the federal oil and gas leasing program in over three decades.

        Fossil fuel companies will also be required to pay higher royalties to the government on oil and gas extracted from federal lands – jumping from 12.5% of revenue to 16.67%.

        That’s not all…

        The rule comes as the Biden administration readies a sweeping plan to limit future oil drilling across roughly 13 million acres of Alaska’s North Slope, which the US set aside a century ago as an emergency supply.

        That initiative, set to be finalized in the coming days per Bloomberg, comes as both oil executives and Alaska lawmakers have sounded the alarm over the plan – saying that it could thwart oil and gas development throughout the reserve, even on existing leases.

        The Interior Department said in a preamble the regulation wouldn’t affect existing leases. But the proposed rule text doesn’t offer similar, explicit assurance. Instead, it proposes to give the government broad authority to limit or bar access to existing leases, “regardless of any existing authorization.” Oil leasing and infrastructure development would be presumed not to be permitted unless specific information clearly demonstrates the work can be done with “no or minimal adverse effects” on the habitat.

        “This would be bad for America’s energy security,” Sen. Lisa Murkowski (R-AK) said on X, adding “It would openly defy federal law while ignoring rising energy prices and growing global volatility. “

        “It would yet again sanction Alaska instead of nations like Russia, Iran, and Venezuela,” she added.

        https://platform.twitter.com/widgets.jsThe Biden administration has argued that the changes are necessary to protect ‘sensitive landscapes’ that provide habitat for polar bears, migratory birds and caribou.

        “We must do everything within our control to meet the highest standards of care to protect this fragile ecosystem,” said Interior Secretary Deb Haaland said in announcing the measure last year, Bloomberg continues.

        How very inflationary…

        Tyler Durden
        Fri, 04/12/2024 – 19:20

      • "I Cannot Afford To Live": Americans Get Emotional As The US Economy Goes Off The Rails
        “I Cannot Afford To Live”: Americans Get Emotional As The US Economy Goes Off The Rails

        Authored by Michael Snyder via The Economic Collapse blog,

        As we approach what is likely to be the most chaotic presidential election in U.S. history, troubling signs are starting to erupt for the U.S. economy.  In fact, CNN is actually admitting that “the long-predicted storm clouds in the economy may actually be forming”.  I can’t remember the last time that I saw a CNN article with a headline like that.  But at this point, it is becoming extremely difficult for the mainstream media to avoid the truth.  Inflation is getting worse at the same time that many key sectors of our economy are slowing down.  If you thought that the last couple of years were rough for the economy, just wait until you see what is coming next.  Tremendous turmoil is on the horizon, and the American people are becoming increasingly emotional about our rapidly growing economic problems.

        On Wednesday, we learned that prices jumped even more than expected during the month of March…

        Inflation jumped in March as prices for consumer staples such as gasoline edged higher and those for housing remained stubbornly high, suggesting inflation may be a bit stickier than it seemed just a few months ago, economists said.

        The consumer price index, a key inflation gauge, rose 3.5% in March from a year ago, the U.S. Labor Department reported Wednesday. That’s up from 3.2% in February.

        Lots of pundits on television are telling us that this is really bad news for Joe Biden.

        But if prices were only rising at a 3.5 percent annual rate, that would be outstanding news.

        In fact, if prices were only rising at a 3.5 percent annual rate I would not be concerned about inflation at all.

        Of course by now everyone realizes that the way inflation is calculated has been changed repeatedly over the years and so the numbers that the government gives us are essentially meaningless at this point.

        In order to get a realistic idea of how much prices are rising, we need to look at specific categories.

        For example, Fox Business is reporting that the cost of energy “is up 36.9% from where it was in Jan. 2021″…

        Tuesday’s inflation numbers punctuate what has been a dreadful three years for energy consumers. The overall cost of energy in March is up 36.9% from where it was in Jan. 2021, according to the Department of Labor’s Bureau of Labor Statistics.

        Of course energy prices are going to go a lot higher than they are right now.

        Just wait until Iran and Israel start lobbing missiles at one another.

        Housing has become insanely expensive as well.

        In fact, the average monthly mortgage payment on a newly purchased home has approximately doubled since Joe Biden entered the White House.

        So how in the world can they possibly tell us with a straight face that inflation is in the low single digits if that is the case?

        Home insurance rates are going into the stratosphere as well.

        One 71-year-old retiree in South Dakota says that his home insurance payment went up by 110 percent in just one year…

        Ken Brown is worried he is going to be forced out of his house if his home insurance premium continues to go up.

        The 71-year-old retiree who lives near Rapid City, South Dakota, has seen his annual cover with American Family skyrocket almost 110 percent in the last year – from $1,665 to $3,490.

        Ken is on a fixed retirement income, while his wife Valeria, 68, is still working to help cover the insurance bill – and a whole host of other rising costs.

        Let’s be honest with ourselves.

        The truth is that we are in the midst of the worst inflation crisis that any of us have ever seen.

        Don’t let them gaslight you.

        The price of food is also going nuts.  At one location in California, a 40 piece order of Chicken McNuggets and two orders of large fries will now set you back more than 25 dollars…

        A viral social media video about a $25 McDonald’s “deal” recently sparked an online debate about California’s minimum-wage increase.

        A TikTok user who posts videos under the username @shannon_montipaya shared the video on March 27. She was in the drive-thru of a Southern California McDonald’s location when she saw a sign for a 40-piece Chicken McNugget meal deal, which also included two large orders of fries.

        The price of the meal bundle was $25.39 — including sales tax, it would come to roughly $27. In the video, the social media user lamented that the meal didn’t even include a drink.

        “OK, so it’s $25.39 for 40-piece nuggets and two large fries,” she said. “You couldn’t even throw in the Sprite?

        With everything that is going on, I can certainly understand why Americans are getting so emotional about inflation.

        Recently, one TikTok user racked up 5 million views when he posted a rant in which he boldly declared that “I cannot afford to live”…

        Last week, a TikTok user posted an angry rant about the cost of living that’s since been viewed 5 million times on the platform, with tens of thousands of comments and shares.

        “I make over three times the federal minimum wage and I cannot afford to live,” he shouts into the camera. “It is embarrassing to come out and say that it is a struggle to survive right now but I know so many people are struggling.”

        Later, he concludes: “The American Dream is dead.”

        Many of you can identify with that.

        I have heard from so many readers that are deeply struggling in this economy.

        Unfortunately, there are signs that things are about to get even worse.

        For example, small business optimism in the United States has dropped to the lowest level in 11 years…

        The failure of Bidenomics has crushed confidence among US small businesses to the lowest level in more than a decade, as the future path of inflation remains a significant concern. Readers must remember small businesses are vital to the economy, contributing 44% of the country’s economic activity and creating two-thirds of net new jobs.

        The National Federation of Independent Business (NFIB) reported Tuesday that its small-business optimism index declined .9 points to 88.5, the lowest level since the second half of 2012 – or about when the US economy climbed out of the worst financial crisis ever.

        And I was deeply saddened to learn that 99 Cents Only is moving toward liquidating all of their stores…

        99 Cents Only shops will begin shuttering its hundreds of locations on Friday as the company moves toward total liquidation.

        “99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue,” the company said in a press release.

        “Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores’ assets.”

        Prior to the announcement, 99 Cents Only was operating 371 stores in the United States.

        Of course we also recently learned that Dollar Tree and Family Dollar will be closing about 1000 stores.

        All over America, stores that were once thriving will soon be boarded up.

        This is what the future of our economy looks like, and many Americans are preparing for rougher times by purchasing large quantities of gold…

        Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.

        In fact, sales are so brisk that analysts at Wells Fargo expect revenue “may now be running at” $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023.

        Just like me, so many of you can feel what is coming.

        A tipping point has arrived, and the outlook for the months ahead is very bleak.

        The U.S. economy is going off the rails, and the worse things get the more frustrated the American people are going to become.

        *  *  *

        Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.

        Tyler Durden
        Fri, 04/12/2024 – 19:00

      • Gun Control Activist David Hogg "Gets Wrecked" By Chinese Immigrant Who Escaped Communism
        Gun Control Activist David Hogg “Gets Wrecked” By Chinese Immigrant Who Escaped Communism

        Earlier this week, elite liberal-leaning Ivy school Dartmouth College hosted a debate about gun control between radical leftist David Hogg and Libertarian vice presidential candidate Jeremy “Spike” Cohen. Late in the discussion, a Chinese immigrant who escaped the brutal hell of communism told Hogg in front of everyone in the auditorium about what happens when tyrannical governments ban guns. Hog was caught entirely off guard and left speechless, as he had no script with progressive talking points to combat what was said. 

        “Hi, my name is Lily Tang Williams,” the woman said in the video posted on X. 

        “Welcome to my ‘Live Free or Die’ state. Actually, I am a Chinese immigrant who survived communism, and under Mao, you know, 40 million people were starving to death after he sold communism to them and 20 million people died… murdered during his Cultural Revolution. So, my question to you, David, is can you guarantee me, a gun owner tonight, our government in the US, in DC, will never become a tyrannical government? Can you guarantee that to me?” she asked… 

        Hogg replied, “There is no way I can guarantee that any government will not be tyrannical.” 

        Williams then said, “Well, then, the debate on gun control is over because I will never give up my guns.” 

        Listen here. 

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        She told the unseasoned youngster, who is supported by radical leftist elites who want to ban guns nationwide, to do a little bit of homework and visit communist China. And not to forget about the millions of people who died during Mao’s Cultural Revolution and Communist dictatorship. 

        Williams, who is also running for the Republican nomination to challenge Democratic Rep. Annie Kuster of New Hampshire, reposted this image from Spike on X. 

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        Williams, who has lived through real communism, has warned Americans before about the dangers of the radical left’s agenda of pushing socialism. 

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        “That’s why I’m here to warn you: The Mao’s Cultural Revolution, in a similar style, is happening today on American soil,” Williams said on a panel held at The Heritage Foundation in December 2021. 

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        If it’s not apparent yet, progressives have a weird obsession with recruiting and supporting children to push their dirty work, such as Greta on climate change and Hogg on banning guns. 

        Meanwhile, Hogg’s activist group, Leaders We Deserve, has lately been under fire by conservative media outlets for barely spending money on actual candidates while racking up bills on travel and other expenses.  

        The problem with gun control activists is that they have very little to say that’s sensible when off-script.

        Tyler Durden
        Fri, 04/12/2024 – 18:40

      • Denver Cuts Taxpayer Services, Diverts $90 Million To Support Illegal Immigrants
        Denver Cuts Taxpayer Services, Diverts $90 Million To Support Illegal Immigrants

        Authored by Jana J. Pruet via The Epoch Times (emphasis ours),

        Denver Mayor Mike Johnston announced a major shift Wednesday in the city’s response to the illegal immigrant crisis, extending support to six months but with only about 1,000 spaces.

        Illegal immigrants rest at a makeshift shelter, in Denver on Jan. 6, 2023. Denver Mayor Mike Johnston announced a major shift on April 10, 2024, in the city’s response to the migrant crisis, extending support to six months but with only 1,000 spaces. (Thomas Peipert/AP Photo)

        The city’s nearly $90 million budget plan identifies how it will fund immigrant housing and aid for the remainder of 2024. The mayor’s pivot comes after the city failed to get federal aid. Denver has served more than 40,000 immigrants since late 2022, according to a press release.

        “After more than a year of facing this crisis together, Denver finally has a sustainable plan for treating our newcomers with dignity while avoiding the worst cuts to city services,” Mr. Johnston said in a statement. “So many times, we were told that we couldn’t be compassionate while still being fiscally responsible. Today is proof that our hardest challenges are still solvable and that together, we are the ones who will solve them.”

        Denver and other Democratic-led cities had asked the Biden administration for aid to assist with the influx of migrants into their communities. 

        President Joe Biden asked Congress for $1.4 billion in funding for the effort as part of his budget. Congress refused and instead cut the Federal Emergency Management Agency’s Shelter and Services Program from $800 million to $650 million.

        “Whether we’d like the federal government to do it or not, that was no longer a choice for us,” Mr. Johnston said.

        City officials claim the new approach will allow for surges of immigrants while focusing on helping them become independent. The move is a departure from the city’s previous strategy of weeks- to months-long shelter stays.

        The illegal immigrant will be housed in apartments for up to six months. They will also receive job and skill training, opportunities for skills certifications, unpaid job experience, food assistance, and help with filing asylum applications.

        The “Denver Asylum Seeker Program” will act as a buffer and offer intensive preparation while immigrants wait six months for their work permits after applying for asylum.

        “In Denver, we believe that the way to solve these problems is not by turning our back on our American values, but by turning to our American values,” Mr. Johnston said.

        Earlier this year,  Mr. Johnston asked all city departments to find creative ways to cut costs by 10 to 15 percent, according to KDVR-TV. That was when Denver was housing 5,000 illegal immigrants a day at a projected cost of $180 million.

        The number of illegal immigrants has since decreased, allowing for a reduced total package of $45.9 million in budget cuts.

        The new plan, which includes an earlier plan for $44 million, brings the program’s budget to a total of $89.9 million for the full year. The city has already spent $25 million of the budget during the first quarter.

        Breakdown of Budget Spending Plan

        • Program administration: $3 million
        • Housing: $51.7
        • Supportive services, including case management and workforce training: $9.7 million
        • Transportation: $6 million
        • One-time capital costs: $9.5 million
        • Contingency: $10 million

        The funds are coming from $9.5 million in capital fund cuts, $8.2 million in services and supplies cuts, $6.7 million in general fund reallocation, and $1.5 million in technology projects.

        The largest reduction comes from not filling approximately 160 job vacancies at $19.9 million.

        Services and supplies cuts include reducing marketing funds, official functions, conference travel, and “moving administrative pieces,” KDVR reported.

        The city also said it hopes to have some funds remaining at the end of the year to roll over to 2025.

        City Shelters

        Denver is currently housing about 800 immigrants in its shelters. This group would be first in line for the new program, and the city expects to reach the 1,000 program cap in the coming days.

        The new program was made possible in part by people offering up their apartments, rental assistance that doesn’t require U.S. citizenships, and through partnerships with nonprofits that provide debit cards for food to cook at home.

        “We are going to share this playbook with all cities around the country. We think we have now cracked the code on how to help people,” Mr. Johnston said.

        The city said it would continue to run a congregate shelter, with stays capped at one to three days—shorter than previous shelter allowances, which ranged from two to six weeks.

        Tyler Durden
        Fri, 04/12/2024 – 18:20

      • Brazil Reinstating Visa Requirements, Including Submitting Bank Statements, For U.S. Travelers
        Brazil Reinstating Visa Requirements, Including Submitting Bank Statements, For U.S. Travelers

        Brazil is reinstating its visa requirement for US tourists, previously lifted in 2019. Although e-visas were briefly available, the system was abolished. The processing time for visas averages five working days, but officials advise applying two months in advance.

        Starting April 10, 2025, travelers from the US, Canada, and Australia must obtain a visa to visit Brazil, a requirement that includes submitting financial proofs like bank statements or pay stubs, the NY Post wrote this week.

        Those earning under $2,000 will need a sponsor to visit, the report says, per the Brazilian government.

        The e-visa application process can be completed online, eliminating the need for in-person consulate visits, the Post writes. According to the US Consulate in Brazil, the visa costs $80.90, is valid for 10 years, and permits stays of up to 90 days annually.

        As part of the process, Americans must submit a letter detailing their trip’s purpose and duration, accommodation information, proof of US citizenship, and return tickets.

        The visa process is more complex for Brazilians entering the US, the report notes. Brazilians must attend an in-person appointment and demonstrate financial stability and the visa fee is $185.

        TravelPulse reports that from January to September 2023, nearly 483,000 Americans visited Brazil, making them the second-largest group after Argentinians. Meanwhile, the European Union has postponed its pre-travel program for Americans until 2025 due to various delays.

        As part of that program, the European Travel Information and Authorisation System will soon be mandatory for visa-exempt travelers from 60 countries, including the US, UK, and Canada, to enter 30 European nations like Spain and France.

        Similar to Brazil, applicants will need to provide passport details, personal information, and trip plans, and pay an $8 fee. ETIAS visas, valid for three years or until the passport expires, allow multiple short-term visits, generally up to 90 days within a 180-day period.

        The only question we have is whether or not this will finally cut down on lines at customs…

        Tyler Durden
        Fri, 04/12/2024 – 18:00

      • Japan's Kishida Slams China In Address To Congress
        Japan’s Kishida Slams China In Address To Congress

        Authored by Dave DeCamp via AntiWar.com,

        Japanese Prime Minister Fumio Kishida delivered an address to Congress on Thursday and declared China the “greatest strategic challenge” facing the world.

        “Close coordination between Japan and the US is required more than ever to ensure that deterrence that our alliance provides remains credible and resilient,” Kishida said, according to The South China Morning Post.

        Japanese Prime Minister Fumio Kishida addresses a joint meeting of Congress on Thursday, Getty Images

        “China’s current external stance and military actions present the unprecedented and the greatest strategic challenge, not only to the peace and security of Japan, but to the peace and stability of the international community at large,” he added.

        Kishida also praised the US for its role in leading the Western proxy war against Russia in Ukraine. “The Ukraine of today may be the East Asia of tomorrow,” he said. “The leadership of the United States is indispensable. Without US support, how long before the hopes of Ukraine would collapse under the onslaught from Moscow?”

        A day earlier, President Biden hosted Kishida at the White House, and the two leaders announced new steps to bolster the US-Japan alliance, including an upgrade to military command and control structures to facilitate more military cooperation.

        “We announce our intention to bilaterally upgrade our respective command and control frameworks to enable seamless integration of operations and capabilities and allow for greater interoperability and planning between US and Japanese forces in peacetime and during contingencies,” Biden and Kishida said in a joint statement.

        They also announced plans to increase joint weapons production and the potential inclusion of Japan in the AUKUS military pact, which focuses on military technology sharing. “Recognizing Japan’s strengths and the close bilateral defense partnerships with the AUKUS countries, AUKUS partners – Australia, the United Kingdom, and the United States – are considering cooperation with Japan on AUKUS Pillar II advanced capability projects,” the statement said.

        https://platform.twitter.com/widgets.js

        Japan is a key part of the US’s preparations for a future war with China since it hosts over 50,000 troops, the largest foreign US military presence. Besides bolstering its own military footprint in Japan, the US is also encouraging Tokyo to build up its military, which breaks from Japan’s post-World War II constitution that renounces war and says armed forces with war potential should never be maintained. Kishida has announced several steps to significantly strengthen Japan’s military, including raising the military budget by 56%.

        Tyler Durden
        Fri, 04/12/2024 – 17:40

      • Iran Readies Over 100 Cruise Missiles For Possible Strike Against Israel: US Officials
        Iran Readies Over 100 Cruise Missiles For Possible Strike Against Israel: US Officials

        Update(1740): Multiple European airlines have canceled all flights to and from Iran, and flight trackers also indicate that skies above Israel are clear of civilian aviation.

        Speculation is at a frenzy over the ‘when & where’ of the coming Iranian retaliation attack. “Anonymous US officials” have been feeding alarming headlines to media outlets all day – and among them the following:

        Iran has readied a large number of missiles for a possible strike, according to three U.S. officials. Two of the officials said that Iran has readied more than 100 cruise missiles for a possible strike. Iran has also readied a sizeable number of drones that could be used in an attack on Israel, according to one official.

        The officials said that Iran has been readying the missiles and drones over the last week.

        The Pentagon has continued to move US naval assets closer to Israel, in apparent preparation to assist in repelling any potential attack.

        Some have speculated that Hezbollah’s stepped up attacks on northern Israel in the last hours are meant as a prelude to bigger Iranian attack…

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        * * *

        Update(1317ET): Israeli hospitals have been put on a high state of alert by the home command, awaiting an ‘imminent’ Iranian retaliation attack. Iran has also reportedly put the United States on notice…

        Three U.S. Officials told Axios : Iran has sent a message to the U.S. through several Arab countries, that if they interfere in Iran’s response against Israel, U.S. bases in the region will be struck.

        Meanwhile, Russia just chose quite the wrong moment to conduct a test-firing of an intercontinental ballistic missile from its Kapustin Yar airbase in southern Russia. The rocket was reportedly seen soaring high in the atmosphere from parts of northern Iraq and Iran, triggering concerns it was Iran beginning its attack.

        Below are some breaking headlines:

        • ALERT US sends reinforcements to Middle East amid fears of Iran attack: official
        • A large number of Iron Dome missiles were launched in the Upper Galilee after a salvo of 50 missiles was launched from Lebanon
        • Israel’s Channel 12 reports Home Front Command has sent hospitals a message in the last hour asking hospital managers to ensure staff availability.
        • The White House has Confirmed a change in U.S. Force and Alert Posture across the Middle East, but has Refused to go into further details.

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        Hezbollah appears to have ramped up its missile salvos over northern Israel:

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        There are also new reports that the US Navy has parked an advanced missile ship just off Israel’s coast, readying to assist with a possible response.

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        * * *

        Update(1116ET): At a moment US intelligence has indicated that Iran could strike Israeli soil in the next 24 to 48 hours, a top US general was spotted at an airbase in central Israel on Friday. US Central Command (CENTCOM) chief Gen. Michael Erik Kurilla met with Israeli Defense Minister Yoav Gallant at Hatzor Airbase “a short while ago,” according to Times of Israel military correspondent Emanuel Fabian.

        The two defense officials discussed “readiness for an Iranian attack against the State of Israel, which may lead to regional escalation,” an official statement of the visit by Gallant’s said. Given it could be “bombs away” at any moment, is it a good idea for America’s top regional general to be hanging out at one of the very bases which could be directly targeted?

        Via Times of Israel

        “Our enemies think that they can pull apart Israel and the United States, but the opposite is true, they are bringing us together and strengthening our ties. We stand shoulder to shoulder,” Gallant’s statement continued.

        “I am certain that the world sees the true face of Iran, the terrorist body that incites terror attacks across the Middle East, and funds Hamas, Hezbollah, and additional forces [proxies], and now also threatens the State of Israel,” the Israeli defense chief added. “We are prepared to defend ourselves on the ground and in the air, in close cooperation with our partners, and we will know how to respond.”

        It goes without saying that if top US military officials are currently on the ground and find themselves in the attack path when Iranian missiles are launched, it could be a direct trigger for massive regional war, given Washington wouldn’t hesitate to respond in a big way against Tehran in that scenario.

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        * * *

        Iran is expected to attack Israel by week’s end, or at least within the coming days. However, the degree of telegraphing has almost taken the teeth out of the threat and what Iran hopes to accomplish in its retaliation.

        “Iran is calibrating its plans for a major retaliatory strike against Israel to send a message — but not spark a regional war that compels Washington to respond, the U.S. assesses,” Politico reports of what’s expected. “Biden administration officials judge that Iran is planning a larger-than-usual aerial attack on Israel in the coming days, one that will likely feature a mix of missiles and drone strikes, said two U.S. officials who were granted anonymity to detail sensitive intelligence assessments.”

        US Embassy in Israel, Getty Images

        The Pentagon has apparently moved naval assets closer to Israel in expectation of Iranian strikes (or else major attacks from their proxies like Hezbollah or the Houthis), including the USS Eisenhower aircraft carrier which is patrolling the Red Sea. Israel’s Channel 14 also reports, “The US military deployed a missile ship with advanced defense capabilities near the shores of Israel.”

        The US has said it is ready to coordinate a response with Israel if it is hit; however, the defense consensus is that Iran is unlikely to send missiles and drones directly from its soil. CBS has newly cited two US officials who say that “a major Iranian attack against Israel was expected as soon as Friday, possibly to include more than 100 drones and dozens of missiles aimed at military targets inside the country.”

        But so far the past days have been a constant avalanche of speculation as an attack remains ‘imminent’. The US State Department is taking action, issuing a security warning to all government employees and their families for the US Embassy in Jerusalem. Travel restrictions have been placed on their movements, after the embassy has been on edge ever since Israel’s unprecedented April 1st attack on the Iranian consulate in Damascus.

        “Out of an abundance of caution, U.S. government employees and their family members are restricted from personal travel outside the greater Tel Aviv, … Jerusalem, and Be’er Sheva areas until further notice,” US Embassy security alert, issued Thursday says.

        “The U.S. Embassy in Jerusalem reminds U.S. citizens of the continued need for caution and increased personal security awareness as security incidents often take place without warning,” the alert continued. “The security environment remains complex and can change quickly depending on the political situation and recent events.”

        Several other countries have issued travel warnings to their citizens, while bracing for a possible bigger war in the Middle East, including Russia and India of late. The UK and France have reportedly called on their citizens to leave immediately, citing an inevitable attack from Iran.

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        Meanwhile the speculation continues as to the timing, with The Wall Street Journal on Friday reporting that “Israel is preparing for a direct attack from Iran on southern or northern Israel as soon as Friday or Saturday, according to a person familiar with the matter.”

        However, even US intelligence doesn’t have a crystal ball. The WSJ follows with this caveat: “A person briefed by the Iranian leadership, however, said that while plans to attack are being discussed, no final decision has been made.”

        Starting Thursday, Gen. Michael Erik Kurilla, commander of U.S. Central Command (CENTCOM), arrived in Israel amid reports that the US and Israel could respond jointly to any imminent Iranian attack on Israel. Alarmingly, Ynet reports Friday that “The IDF and Mossad approved plans for an attack on Iran in the event that Israel would come under attack from Iranian territory. Additionally, the coordination between the U.S. and Israeli militaries, has increased.”

        Below are the morning’s geopolitical headlines via Newsquawk:

        * * *

        MIDDLE EAST – EUROPEAN MORNING

        • “The (Israeli) army and the Mossad approved plans to target the heart of Iran if Israel (is) bombed from inside Iranian territory”, via Al Jazeera citing Yedioth Ahronoth.
        • Hamas sources: “The organization’s leadership informed the mediators that it is not interested in further discussions about the deal, as long as there is no progress in its demands…”, according to journalist Kais citing Hezbollah-affiliated press.
        • “US official to Al-Arabiya: We will participate in the response if Iran escalates with an appropriate response”, according to Al Arabiya

        MIDDLE EAST

        • Israel is prepared for an Iranian strike from its territory in the next 48 hours, according to WSJ. Israeli army said Iran is preparing its proxies in the region to attack them, according to Al Arabiya.
        • Israeli Defence Minister Gallant told US Defense Secretary Austin that a direct Iranian attack on Israeli territory would compel Israel to respond in an appropriate way against Iran, according to Axios.
        • Iran reportedly signalled to Washington it will respond to Israel’s attack on its Syrian embassy in a way that aims to avoid major escalation and it will not act hastily, according to Reuters citing Iranian sources. Furthermore, a source familiar with US intelligence was not aware of the message conveyed but said Iran has been very clear its response would be controlled and non-escalatory, and planned to use regional proxies to launch a number of attacks on Israel.
        • US President Biden’s administration officials judge that Iran is planning a larger-than-usual aerial attack on Israel in the coming days which will likely feature a mix of missiles and drone strikes, according to two US officials cited by Politico.
        • US official said the US expects an attack by Iran against Israel which they think will be calibrated to be bigger than usual but not so big it would draw the US into war, while US officials have also been in touch with regional partners to discuss efforts to manage and ultimately reduce further risks of escalation.
        • US said it had restricted its employees in Israel and their family members from personal travel outside the greater Tel Aviv, Jerusalem and Be’er Sheva areas amid Iran’s threats of retaliation against Israel.
        • US State Department senior official said a robust conversation with Iraq is likely to lead to a second US-Iraq joint security cooperation dialogue later this year.

        OTHER

        • US President Biden warned that any attack on Philippine vessels in the South China Sea would invoke their mutual defence treaty.
        • China’s top legislator Zhao Leji and North Korean counterpart discussed promoting exchange and cooperation in all fields, according to KCNA.
        • Four drones shot down overnight near Russia’s Novoshakhtinsk in a town in near proximity to an oil refinery

          Tyler Durden
          Fri, 04/12/2024 – 17:40

        Digest powered by RSS Digest

        Apr 12

        Today’s News 12th April 2024

        • How Turkish Sanctions Against Israel Will Impact Bilateral Trade
          How Turkish Sanctions Against Israel Will Impact Bilateral Trade

          Via Middle East Eye

          Turkey’s decision to halt the export of 54 products to Israel in response to its war on Gaza isn’t likely to have far-reaching results, since both countries’ economies are complementary in nature rather than central to each other.

          The Turkish trade ministry announced earlier this week that Ankara would continue to implement the restrictions as long as Israel denies uninterrupted flow of humanitarian aid to Gaza Strip, citing UN Security Council decisions and an International Court of Justice (ICJ) preliminary judgment against Israel’s conduct in the coastal enclave. The export restrictions encompass items such as aluminium wire, steel, cement, construction materials, granite, chemicals, pesticides, engine oils, jet fuel and bricks.

          Israel’s Haifa commercial shipping port in the Mediterranean Sea, NurPhoto

          Before the war, Turkish-Israeli ties had been steadier than they had been for years. After years of tensions over Palestine, the two normalized relations in 2022. Yet, while Turkey and Israel quarreled over the past decade, and even stopped cooperating with each other, trade had never been interrupted. In fact, it flourished over time.

          The Turkish public has been outraged at Israel’s actions in Gaza, where reportedly more than 33,000 Palestinians have been killed in six months. Lists of ships carrying goods to Israel circulated on social media as Israel’s onslaught grew. People also highlighted companies close to the Turkish government that continued commercial relations with Israel during the war.

          Even though there is no evidence to back claims that Turkey sold weapons to Israel, the controversy was stoked by a small quantity of hunting gear or hunting equipment parts being found among the exports. They were broadly classified by the Turkish Statistical Institute (TUIK) as “weaponry”. 

          In response to this domestic pressure and serious setbacks for the ruling Justice and Development Party (AKP) in local elections last month, the government decided to act against Israel.

          Ties have been cut on the Israeli side, too. In October, several Israeli supermarket chains halted imports from Turkey in response to Ankara’s critical stance on the Gaza war. Israeli food company Strauss in December changed the packaging for one of its most well-known products, Elite Turkish coffee, adding an Israeli flag and patriotic slogans.

          An important market

          But is the trade between the two countries vital? Many say no, but Israel is nonetheless an important export market for Ankara. Turkey’s exports to Israel were worth $5.4bn in 2023, or 2.1 percent of its total exports, according to official data.

          Although bilateral trade has dropped by 33 percent since the October 7 Hamas-led attack, it has nonetheless continued and exports to Israel have increased each month in 2024 so far. Both countries have had a free trade deal in place since 1996 and there have been no tariffs on certain products since 2000, which has enabled major increases in bilateral trade, largely favouring Turkey.

          From 2009 to 2023, trade between the two countries nearly tripled. By the end of that period, Turkey had become the fifth-largest supplier of imported goods to Israel, while Israel ranked as Turkey’s tenth-largest export market, based on data from the Central Bureau of Statistics.

          Turkey exported steel, automotive industry products, chemicals, ready-made clothing and apparel, electricity and electronics, cement, glass, ceramics and soil products, furniture, paper, and forestry to Israel, according to a report published by the Turkey Exporters Assembly covering the period between 2011 and 2020.

          “The economies are complementary but not intertwined,” Gallia Lindenstrauss, a senior research fellow at the Institute for National Security Studies (INSS), told Middle East Eye. “Turkey can find also substitutes to what it imports from Israel, and anyhow, of the bilateral trade, three-quarters are Turkish exports to Israel and only one-quarter is Israeli exports to Turkey.”

          Trade with Israel has traditionally been highly advantageous for Turkey, which enjoyed a trade surplus of $3.9bn last year. Israel serves as a significant market for Turkish steel, purchasing 726,000 tonnes last year. This figure constitutes over 20 percent of Turkey’s total steel exports. The ban is expected to significantly affect these exports.

          In terms of dependence on imports, Israel heavily relies on Turkish cement, with imports from Turkey making up 29 percent of Israel’s total cement imports last year. Additionally, Turkish imports represent about 11 percent of Israel’s total plastic and rubber products, and around 10 percent in textiles.

          Sources familiar with the construction industry told Israeli news outlet Mako that the new restrictions were expected to increase the prices of apartments and rent in the country if they are implemented. “In terms of long-term repercussions, the fact the Turkey halts construction materials when these are needed to repair damaged houses in the south and north of Israel because of rockets and other damage will likely taint relations also in the future,” Lindenstrauss said.

          “Also, while anyhow there were question marks regarding a possible gas pipeline between Israel and Turkey, these export restrictions in a time of war will be a big warning sign not to proceed with the pipeline idea.”

          Impact on Palestine

          Turkey’s decision to restrict exports to Israel likely has an impact on Palestine as well. “Israel has complete control over the border crossings as Palestinian imports arrive at Haifa or Ashdod seaports, and the goods are then transported to Palestinian territories via trucks,” Rashad Yousef, director of policies and planning at the Palestinian Ministry of National Economy, told Anadolu Agency.

          Yousef added that Palestinian-Turkish trade volume in 2022 exceeded $900m, representing a 12 percent increase over 2021. He also said that the main Turkish exports to Palestine are iron, wood, vegetable oil, tobacco, food products and items from the plastic industries.

          “If we exclude Israel, Turkiye is the largest source of goods and products in the Palestinian market,” Yousef said. However, there are ways to continue to trade with Israel by rerouting trade through third countries, as the Ukraine war has proved following western sanctions on Russia.

          Israeli importers are mulling bringing in Turkish goods via Slovenian ports Koper or Ljubljana, according to an Israeli report. “But still, the economic relations were what kept the relations going even in times of political crisis, so it is regrettable we have reached this point,” adds Lindenstrauss. 

          “And despite it having been a painful step, I don’t see it in itself changing Israel’s policy – the pressures from the White House are much more significant.”

          Tyler Durden
          Fri, 04/12/2024 – 02:00

        • Ukraine's Drone Strikes Against Russian Oil Refineries Complicate Biden's Re-Election Bid
          Ukraine’s Drone Strikes Against Russian Oil Refineries Complicate Biden’s Re-Election Bid

          Authored by Andrew Korybko via Substack,

          CNN published a detailed piece on Tuesday about how “Ukraine’s AI-enabled drones are trying to disrupt Russia’s energy industry. So far, it’s working”. Although an unnamed source close to the program told them that “The flights are determined in advance with our allies, and the aircraft follow the flight plan to enable us to strike targets with meters of precision”, there are reasons to believe that the US is against these sorts of attacks. Not least among them is what CNN itself reported in that same piece.

          According to them, “Ukrainian strikes on refineries have caused global oil prices to rise, with Brent crude up nearly 13% this year, leaving politicians in the United States worried about their potential economic impact in an important election year.” They also cited an expert who claimed, “That was the deal with Ukraine: We will give you money, we will give you weapons, but stay away from the export facility, stay away from Russian energy, because we don’t want a massive energy crisis.”

          That individual added in reference to the Congressional deadlock on Ukraine aid that “If they’re not getting the weapons and money that they were promised, what is their incentive to abide by that deal with Washington?” This aligns with what Zelensky himself hinted in an interview with the Washington Post late last month when he revealed that “The reaction of the US was not positive on [us attacking Russian oil refineries]…(but) We used our drones. Nobody can say to us you can’t.”

          Secretary of State Blinken echoed that sentiment in a joint press conference with his French counterpart on Tuesday when he said in response to a question about these oil refinery strikes that “we have neither supported nor enabled strikes by Ukraine outside of its territory.” He was asked about this after a Ukrainian drone strike targeted Russia’s third-largest refinery in the Republic of Tatarstan, which is located in the country’s heartland a full 800 miles away from the front lines.

          When reflecting on Blinken’s statement, CNN’s report, and Zelensky’s earlier words, it certainly appears to be the case that the US doesn’t want Ukraine striking Russian oil refineries out of fear that the massive energy crisis that this could catalyze would capsize Biden’s re-election bid.

          If that’s indeed its position, then it raises the question of which allies are determining the flight paths of these drones and why Zelensky would risk Trump returning to power when he’s much less pro-Ukrainian than Biden is.

          It might very well be the case that there are divisions emerging within NATO over these strikes exactly as RT editorialized when drawing attention to how Blinken’s French counterpart seemed to support the latest attacks in his response to the question that they were asked during Tuesday’s press conference. France might therefore be providing this sort of assistance, which could also be complemented by the UK’s and other countries’ complementary contributions, whether on their own or as part of a joint effort.

          As for why Zelensky would want to rankle Biden and risk Trump’s return, he might have a “god complex” after being promoted so heavily as a Churchillian leader over the past two years, which could have become part of his identity despite the media souring on him since last summer. In his mind, Biden will do his bidding in somehow getting the Republicans to approve more Ukraine aid under pain of him unleashing a massive energy crisis by taking out more of Russia’s refining and export capabilities.

          Biden would have already gotten the Republicans to do this if he was able to so it’s delusional for Zelensky to imagine that holding his re-election bid hostage will make a positive difference. If anything, wider awareness his thuggish tactics among the Republicans could further solidify their resistance to approving more Ukraine aid since Zelensky isn’t just holding Biden’s re-election bid hostage, but the entire American economy as well and therefore also threatening the US’ objective national interests.

          Should he authorize a series of strikes that catalyzes the massive energy crisis that the Biden Administration fears, then the most hawkish anti-Russian deep state faction that’s responsible for artificially perpetuating this conflict might lose the influence that it exerts over policymakers. Their comparatively less hawkish rivals could replace their dominant role in that scenario and possibly convince the Biden Administration to finally agree to a pragmatic compromise for ending the conflict.

          Zelensky’s decision to hold Biden’s re-election bid hostage by threatening to unleash a massive economic crisis as revenge for the Congressional deadlock on Ukraine aid might be his downfall. He’s not only biting the hand that feeds his regime on the taxpayers’ dime but also threatening the US’ objective national interests.

          The desperation that his forces feel on the battlefield is driving him to “go rogue”, but his patrons might soon tire of this and decide to replace him after his term expires on 21 May.

          Tyler Durden
          Thu, 04/11/2024 – 23:45

        • Nearly 20% Of Recent San Francisco Home Sales Were Underwater
          Nearly 20% Of Recent San Francisco Home Sales Were Underwater

          Nearly 20% of homes sold in San Francisco during the three months ending Feb. 29 sold at a loss. What’s more, the typical SF homeowner took $155,500 less than they bought it for, which is 400% more in dollar terms than the nationwide median loss of $39,912 over the same period, Redfin reports, citing an internal analysis of county records and MLS data across the US.

          San Francisco home sellers are far more likely than sellers in the rest of the country to lose money because home prices there have dropped dramatically since the pandemic homebuying boom. Still, the Bay Area is home to the most expensive real estate market in the U.S.

          San Francisco’s median sale price peaked at $1.66 million in April 2022, and has since fallen 15% ($250,000) to $1.41 million as of February. The typical person who bought in San Francisco at nearly any point in 2021 or 2022, when the housing market was red hot due to ultra-low mortgage rates, would have taken a loss if they sold during the first few months of this year. –Redfin

          “Home prices have fallen from their peak, especially when it comes to condos,” said real estate agent Christine Chang. “It’s not just because mortgage rates are high. San Francisco has lost some of its appeal post-pandemic. A lot of tech employers and big-name retailers have moved out of the city, and some of my clients have reported they’re leaving the area because they don’t feel as safe as they used to.“

          Meanwhile…

          According to the same report, Detroit came in second in terms of homes selling at a loss (10.8%) during the three months ending February 29, followed by three other Rust Belt and Midwestern metros: Cleveland (8.2%), St. Louis (8.1%) and Chicago (7.9%).

          Sellers in those places are more likely than most to lose money because, like in San Francisco, home prices have fallen quite a bit from their pandemic peak. In Detroit, for instance, the median sale price is down roughly 20% from its pandemic peak.

          Additionally, housing markets in Detroit and Chicago have suffered because they’re typically among the U.S. metros homebuyers are most likely to leave. -Redfin

          Least likely to take a loss?

          Homeowners in New England and Southern California were least likely to sell at a loss – with just 1.2% of homeowners who sold during the same period losing money.

          This is followed by Boston, Anaheim, CA, Fort Lauderdale, FL, and San Diego, where roughly 2% of homes sold for less than the seller originally paid in each of those metros.

          That said, the vast majority of sellers are still profitable on their home sales – even in San Francisco, where 82% of sellers took in more than they paid – with the typical seller banking $482,000 more than their cost basis over the period analyzed. Nationwide, 96% of sellers are postive on their sales, with a median gain of $196,016 thanks to the national media home price sitting just 5% below the all-time high set in mid-2022.

          Tyler Durden
          Thu, 04/11/2024 – 23:20

        • Biden Admin Finalizes Controversial Rule To Expand Background Checks On Gun Sales
          Biden Admin Finalizes Controversial Rule To Expand Background Checks On Gun Sales

          Authored by Michael Clements via The Epoch Times (emphasis ours),

          The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) has submitted the final version of a controversial rule to change the definition of what it means to be “Engaged in the Business” of dealing in firearms.

          Weapons seized in federal law enforcement actions are displayed at the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) field office in Glendale, Calif., on April 18, 2022. (Robyn Beck/AFP via Getty Images)

          The U.S. Attorney General says the change, required by the Bipartisan Safer Communities Act enacted June 25, 2022, will save lives by requiring anyone who “devotes time, attention, and labor to dealing in firearms as a regular course of trade or business or predominately earns a profit through the repetitive purchase and sale of firearms” to obtain a Federal Firearms License.

          “Under this regulation, it will not matter if guns are sold on the internet at a gun show or at a brick-and-mortar store: if you sell guns predominately to earn a profit, you must be licensed, and you must conduct background checks,” Attorney General Merrick Garland wrote in a statement on the ATF website.

          Critics of the change say the rule will effectively end private transactions, possibly including the inheritance of firearms within families.

          According to the ATF statement, President Joe Biden issued Executive Order 14092 on March 14, 2023, which directed Mr. Garland to clarify the definition of who is engaged in the business of dealing in firearms. The plan immediately drew criticism from gun rights activists.

          “The ATF is using the [Bipartisan Safer Communities Act] BSCA to substantially revise all regulations governing who and what constitutes a ‘dealer’ and how such dealers may conduct business. This proposal advances a radical left-wing agenda that will undermine the Second Amendment and the Constitutional rights of all Americans,” Rep. Bob Good (R-Va.) wrote in a Dec. 7, 2023, letter to ATF Director Steen Dettelbach.

          Mr. Garland signed the new rule on April 10, and it will become effective May 10, 2024.

          According to the 466-page rule, the only requirement for determining whether a person is engaged in the business of selling guns is whether the person is trading to “predominately earn a profit” rather than to earn a “livelihood.”

          Critics claim that under the new rule, the transfer of a single gun between private citizens would require the seller to have an FFL and to perform a check through the National Criminal Instant Background Check System (NICS). This would effectively end all private firearm sales and could even subject parents to federal prosecution for trying to pass family heirlooms along to their children.

          “Once again, the Biden Administration is weaponizing every tool in their tool box to intimidate, harass, and criminalize gun owners with unlawful executive actions. This Backdoor Universal Registration Check rule is nothing more than a move to criminalize the sale of a single gun without a background check,” Aidan Johnston, Director of Federal Affairs for Gun Owners of America wrote in a statement to The Epoch Times.

          But the new rule states that is not the case.

          “Individuals may continue to engage in intrastate private sales without a license, provided that such individuals are not ‘engaged in the business’ and the transactions are otherwise compliant with law,” the rule reads.

          In an ATF press release, Mr. Dettlebach stated that the rule is about closing an avenue by which criminals obtain guns.

          “Today’s final rule is about ensuring compliance with an important area of the existing law where we all know, the data show, and we can clearly see that a whole group of folks are openly flouting the law,” Mr. Dettlebach is quoted as saying. “That leads to not just unfair, but in this case dangerous consequences.”

          But Second Amendment advocates say the new rule is the next step in the Biden Administration’s plan to implement gun control measures through administrative action that it can’t get through the legislative process.

          “The government hopes to ensure that they are fully involved in every firearm transfer, and eventually the records of all those transfers will end up in their records database. Just last month ATF executed an airport executive in Arkansas during a pre-dawn raid because he was ‘engaged in the business’ without one of ATF’s licenses. This could quickly become the new normal, so liberty-loving Americans are right to be concerned,” Mr. Johnston’s statement reads.

          Tyler Durden
          Thu, 04/11/2024 – 22:55

        • In Latest Humiliation For Biden Admin, Russian Oil Is Trading Above The G7 Price Cap Everywhere
          In Latest Humiliation For Biden Admin, Russian Oil Is Trading Above The G7 Price Cap Everywhere

          Back in late 2022, when “Western democracies” bombastically unveiled theatrical sanctions against Putin, capping the price at which imports of Russian oil were permitted to no higher than $60, we said that this was one of the biggest farces in modern history, not only because it was an optical play that was made entirely for public consumption (as nobody in the west actually wanted to curtail Russian oil exports as the outcome would be a devastating surge of inflation as Biden now realizes), but also because there was no enforcement mechanism to cap the price at $60 and no more.

          We were right, again, and today Bloomberg reports that “Russian oil is trading far in excess of a Group of Seven price cap that’s supposed to deprive Moscow of revenue for its war in Ukraine, suggesting significant non-compliance with the measure”, which anyone with half a working brain would have expected to happen, which of course excludes virtually all “democratic” bureaucrats who implemented this idiotic sanction (which only ended up making the Vitol oil traders billionaires).

          According to data from Argus Media, whose price assessments are followed by some G-7 nations involved in the cap, Russian flagship Urals grade oil is now selling for $75 a barrel at the point it leaves ports in the Baltic Sea and Black Sea. A Treasury official told Bloomberg that US officials are tracking the price increase, which they attribute to broader geopolitical dynamics, as the alternative – admitting they are idiots, would be a bit too introspective.

          As a reminder, the Russian embaro cap requires that any western company involved in transporting Russian oil receives a so-called attestation, a document vouching that the cargo cost $60-a barrel or less. If it doesn’t, they’re not allowed to provide their services. The fact that Argus’s prices are so far above that level creates what Bloomberg called a “dissonance”, but what we would call, a giant slap on the face of the Biden administration which nobody takes seriously any more.

          While Urals has been above $60 almost all year, this month’s surge to well above $70 will stretch the credibility of those attestations for traders wanting to keep using western services. Not like anyone actually thought those attestations had any credibility to begin with since the governments enforcing them were so clearly interested in having everyone ignore them.

          Bloomberg data showed that in March, 23% of the nation’s crude oil shipments had insurance against spills and collisions provided by members of the International Group of P&I Clubs. That means traders would have vouched that the cargoes cost well below where Argus assessed the Urals price to be, which was clearly not the case, and means that at least a quarter of Russian oil shippers are fabricating data. A smaller proportion moved on Greek tankers, all of which had cover from IG clubs, also requiring attestation.

          Hilariously, the idiots in the Biden admin told Bloomberg that the cap is still having its intended effect, reducing the amount of money the Kremlin receives from oil sales by forcing the commodity to either be sold under the cap via western services, or through Russia’s shadow fleet. Which, of course, is absolutely not the case and Putin is currently rolling in the cash from selling oil to the same European nations that are supplying Ukraine with their most modern weapons which Putin then handily blows up and reverse engineers. The US plans to continue the enforcement of the cap by sanctioning vessels operating in the shadow fleet, but will not do so in response to any specific market moves, the official said, requesting anonymity to discuss internal deliberations, and for the reason that it would be extremely embarrassing if his name were to become public.

          A European Commission spokesperson said the bloc is aware of the risk of the price cap being dodged, and is committed to steps that deprive Russia of revenue while simultaneously “supporting global energy market stability.” It’s also constantly reviewing existing measures to enforce the cap and prevent its violation or circumvention, the spokesperson said, adding that such measures require unanimity among member states. In other words, Europe knew from day one that the Russian oil embargo was not going to work, and now, a year and a half later, is blame the lack of “unity” for this farce.

          The bloc’s most recent sanctions package was aimed at tighten the cap’s enforcement, the spokesperson said; clearly the package did not achieve the “desired outcome.”

          Of course, it’s not just Russia that is rolling in dough: by the time Urals cargoes get to India, the grade is trading at $88 a barrel — just $3.80 below than the global benchmark for physical cargoes, Dated Brent, Argus data show. When the nation’s ESPO crude leaves the port of Kozmino in eastern Russia, it is at $84 a barrel. It hasn’t been close to the price cap for about a year.

          Bloomberg concludes that since last October, “the US Treasury has shown it’s prepared to punish companies for breaches of the price cap that happened in the past” however, given its desire to avoid any actions that disrupt the flow of crude — and risk higher prices — the rally in headline Brent futures to around $90 a barrel may temper any push to do so at this time.

          In other words… well, this:

          Tyler Durden
          Thu, 04/11/2024 – 22:30

        • GODL! Precious Metal Soars Above $2,400 After Sudden Gap Higher
          GODL! Precious Metal Soars Above $2,400 After Sudden Gap Higher

          Crypto bulls – at least those who didn’t betray their “laser eyes” PFP and sell previously – have had their day in the sun for the past 3 months as bitcoin and most other digital fiat alternatives soared, making it clear why, despite the difficult, it can be so very profitable to HODL, especially with the US is approaching the Minsky Moment of issuing $1 trillion in debt every 100 days, and interest on US debt, now at $1.1 trillion, is set to surpass Social Security spending and become the single largest government outlay before the end of the year.

          https://platform.twitter.com/widgets.js

          And now, it’s time for GODL!

          Stupid jokes aside, while bitcoin was rampaging higher, goldbugs stared in disgust, wondering why their non-fiat god had forsaken them… after all, when the collapse of the dollar, and fiat in general, finally arrives gold will be one of the very few currency alternatives still standing. Alas, ETF flows have not provided any respite, because while bitcoin ETFs soaked up most money in the past 3 months, aggregate gold flows continued to shrink.

          And yet, starting in the beginning of March, gold finally broke out from the black hole gravitational attraction of the Bank of International Settlements trading desk, and has soared some $300 dollars in just 6 weeks, its fastest ascent in decades.

          Fast forward to tonight when, with most other assets quiet, gold suddenly surged higher, and after closing at an all time high, the precious metals spiked by another $15 in a matter of seconds, a move which for the otherwise hyperlethargic assets, is the equivalent of turbo boost.

          And while it’s now just a matter of hours if not minutes, before spot rises above $2,400, gold futures are already there: the active, June contract just hit a new all time high of $2,406.9 moments ago around the time Chinese buy orders started rolling in…

          … and contrary to speculation that this is just a fat finger, or a another one-off buy orders, gold future volumes are solid, especially given volumes would have already been very high in the last few days. GCM4 volumes are now 23.5k lots vs. 5-day average of 17.85k lots.

          While it wasn’t clear what sparked the buying frenzy, UBS’ trading desk notes that “gold futures gapped up $10 as they traded through Thursday’s high on what felt like stop losses being triggered; 0.5moz of futures volume were behind the move.“

          What happens next is also unclear, although as we showed moments before the breakout, the current divergence between gold prices and 10Y real rates, suggests that something awful is about to happen…

          https://platform.twitter.com/widgets.js

          … a dismal outlook proposed last week by none other than BofA CIO Michael Hartnett, who in his latest Flow Show report noted that investors are looking beyond the “here and now”, realizing that there is no way markets or the economy can sustain 5% nominal and 2% real rates, and are hedging two things: i) the risk that the Fed cuts as CPI accelerates, and ii) and more ominously, the “endgame of Fed Interest Cost Control (“ICC”), Yield Curve Control (YCC) and QE to backstop US government spending.”

          In short, something big is about to break, and if the surge in gold leads to a spike in yields, start the countdown to one of two things: i) QE and/or ii) YCC, because if the bond market sniffs out the endgame that gold is currently smelling, it will be up to Powell to once again prevent a catastrophic financial collapse.

          For those wondering how far gold can rise, we excerpt from the latest note from BofA commodities strategist Michael Widmer (available to professional subscribers), who writes that…

          Gold and silver are among our most preferred commodities, with the yellow metal pushed up by central banks, China investors and, increasingly, Western buyers on a confluence of macro factors, including an end to hiking cycles. Accordingly, we see the yellow metal rally to US$3,000/oz by 2025. Silver benefits from that too, with prices also boosted by stronger industrial demand. This could take prices above US$30/oz within the next 12 months.

          And some charts.

          And here is UBS, predicting that the price of the precious metal could double from here (note also available to pro subs):

          The recent move in gold reminds me of a famous quote: “There are decades where nothing happens, and there are weeks where decades happen.” Looking at history, gold price can stay in the doldrums for a long time but when it does breakout, the surge is usually fast and furious. In deciding whether to chase or fade the recent gold rally, it might be useful to draw some inspiration from past breakout episodes. Here I define a “breakout” to be when the gold prices move 10% above the previous historical peak.

          Should history repeat itself, it is not too late to participate in the current gold rally. An investor with a two to three-year view could expect to see gold potentially double from here to more than $4,000. The take-profit signal is when real rates turn negative and when there is a full-blown recession. Today with real rate still high and a recession seemingly faraway, it is too early to call the end of the ongoing gold rally. Gold breakout can be seen as an ominous signal, and it is not difficult to imagine a range of geopolitical risk scenarios. As for markets, many things look mispriced today with a two to three-year lookout, ranging from incredibly low credit spreads, elevated equity valuation to subdued volatility. It’s fair to say that the gold market has fired its warning shot.

          Much more in the full report from BofA and UBS available to professional subs in the usual place.

          Tyler Durden
          Thu, 04/11/2024 – 21:56

        • Texas Nat Gas Prices Turn Negative As Drillers Chase Oil Sales
          Texas Nat Gas Prices Turn Negative As Drillers Chase Oil Sales

          Nat gas prices at the Waha hub in the Permian basin in Texas slumped to a negative price of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online, OilPrice reported.

          As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level in nearly six months, Texas producers keep pumping crude, but their wells also produce gas, which basically has nowhere to go.  

          While producers are chasing higher realizations for the crude they pump, they are depressing further an already depressed U.S. natural gas market, which has been oversupplied for months due to a milder winter and lower demand for heating and electricity.  

          Producers in West Texas are hit by the negative price of natural gas at the Waha hub, which means that they have to pay for someone to take that gas. But demand just isn’t there.

          “They’re bringing these drilled, uncompleted wells online because the price of oil is higher,” Dennis Kissler, senior vice president for trading at BOK Financial Securities, told Bloomberg.

          “It’s flooding the market with gas, and you’ve got no demand,” Kissler added.

          Yet, signs have started to emerge that the natural gas glut may have started to hold back drilling in parts of the Permian basin.

          U.S. oil producers are not in a rush to significantly boost crude production despite oil prices hovering at a six-month high, as multi-year low natural gas prices and higher costs are weighing on the industry, analysts and executives told Reuters earlier this month.

          Oil producers in America are also mindful of the investor demands for higher returns, not necessarily higher production.  

          “Natural gas is currently pricing at or below costs of production,” an executive at an exploration and production company said in comments in the latest quarterly Dallas Fed Energy Survey released at the end of March.

          Tyler Durden
          Thu, 04/11/2024 – 21:40

        • How Ivermectin Trials Were Designed To Fail
          How Ivermectin Trials Were Designed To Fail

          Authored by Yuhong Dong via The Epoch Times (emphasis ours),

          The use of ivermectin to treat COVID-19 is an ongoing debate. The central conflict is that while many doctors have reported success in using ivermectin, some studies published in major journals suggest it is in fact ineffective.

          (eloresnorwood/Shutterstock)

          Even as the FDA recently has been removing misinformation it posted about ivermectin, the agency has maintained its original position regarding its effectiveness, namely that there isn’t evidence.

          People who trust ivermectin claim the studies showing ineffectiveness are fraudulent, while people who are skeptical of its use for treating COVID-19 view it as an anti-science conspiracy theory.

          As a professional with decades of research experience conducting dozens of clinical trials on antiviral drugs, I decided to dive deep into the studies purporting ivermectin’s ineffectiveness. What I found shocked me.

          Legacy Media Report Ineffectiveness

          Numerous preclinical studies have found that ivermectin has a broad range of effects on COVID-19, spanning from its initial impact on viral infection to the pathological changes the virus causes in our bodies.

          Ivermectin inhibits the entire life cycle of SARS-CoV-2 in our cells from attachment, spreading, and replication (1, 2, 3).

          Moreover, ivermectin is anti-inflammatory and organ-protective, which can potentially protect against severe COVID-related lung damage and acute respiratory distress syndrome, heart-related complications, and blood clots.

          Ivermectin exceeds the approved antiviral effects of other medications, including Paxlovid, molnupiravir and remdesivir, which only target the virus and lack anti-inflammatory and organ-protective effects. Monoclonal antibodies have to be constructed specific to each variant and are very expensive.

          In the pharmaceutical industry, clinical trials are commonly used to evaluate the efficacy and safety of drugs once their mechanism is demonstrated. There are two types of clinical trials: observational and interventional.

          Observational studies are often conducted by doctors in clinical, hospital, or community settings to analyze the effects of drugs. The data is collected as observed in clinical practice with minimal interference.

          Many doctors have observed the positive effects of ivermectin on their patients. An observational study conducted in Brazil with over 88,000 patients showed that ivermectin reduced the rates of infection, mortality, and hospitalization by 49 percent, 92 percent, and 100 percent, respectively, compared to nonusers.

          Pharmaceutical companies are required to conduct interventional studies that meet the approval standards set by the U.S. Food and Drug Administration (FDA). Randomized clinical trials (RCTs) are frequently utilized to fulfill these requirements. This type of study is considered the gold standard and involves randomly assigning one group of patients to receive a specific drug while the other group does not receive it, then comparing the outcomes.

          Legally and medically, ivermectin can be prescribed off-label to treat COVID-19 since it has already been approved by the FDA for other diseases.

          Although many doctors have observed the positive effects of ivermectin in treating their patients, the media has specifically highlighted data from a few selected RCTs that have concluded it is ineffective in treating COVID-19.

          However, some critical aspects were overlooked in those RCTs.

          Improper Dosing

          A drug’s therapeutic effects can only be observed when it reaches the appropriate concentration in the body and remains there for a few days, allowing sufficient time to work.

          Improper dosing was a major issue in the RCTs that found ivermectin ineffective.

          Recommended Dosage

          According to Merck’s package insert for ivermectin (brand name Stromectol), a single oral dose of 0.2 mg/kg was officially recommended for treating parasitic diseases. There is no official dose for COVID-19.

          The recommended dosage of ivermectin for treating COVID-19 is based on the clinical experiences of physicians worldwide.

          The Front Line COVID-19 Critical Care Alliance (FLCCC) guidelines recommend taking 0.4 mg/kg of ivermectin daily, immediately after exposure. Once a cumulative dose in excess of 200 mg is reached, the risk of acquiring COVID-19 has been shown to be nearly zero.

          It is common for a drug with multiple indications to have different doses for different diseases.

          Moreover, ivermectin should be given with food, as it has a 2.6-fold higher bioavailability when taken with food rather than on an empty stomach. The Merck package insert (revised May 2022) also supports this and states: “Administration of 30 mg ivermectin following a high-fat meal resulted in an approximate 2.5-fold increase in bioavailability relative to administration of 30 mg ivermectin in the fasted state.”

          FLCCC guidelines also recommend taking ivermectin “with or just following a meal for greater absorption.”

          Yet this important dosing information is not reflected in the commonly used drug prescribing resource known as the Prescribers’ Digital Reference or PDR which states: “Take the number of tablets your doctor has prescribed all at the same time with water on an empty stomach. Do not eat any food within two hours before or after taking the tablets.”

          So if a person takes the dose while fasting, they are getting only 40 percent of the recommended dose. For patients with a higher body weight, the effects of underdosing could be even more significant.

          RCT Studies Used Inappropriate Dosing

          In the most recent PRINCIPLE trial published in March, ivermectin was used at 0.3 mg/kg for only three days. Moreover, it was designed to dose the ivermectin without food: “Participants were advised not to eat two hours before or after taking ivermectin.”

          In another RCT ACTIV-6 published in JAMA in October 2022, ivermectin was dosed in a fasting status, as the protocol stated: “Ivermectin should be taken on an empty stomach with water (30 minutes before a meal or 2 hours after a meal).”

          Ivermectin was reported as dosed at 0.4 mg/kg for three days—a much shorter time period than it should be. However, in the protocol Table 4 in Appendix 16.3.3, the precise dosing was as low as 0.269 mg/kg, and 0.4 mg/kg is actually only the upper dose limit—not the real dose.

          According to the worldwide recognized study guideline ICH Good Clinical Practice, clinical trials must adhere to ethical principles. Failure to do so would be considered study misconduct or fraud and would violate the principle of integrity.

          Another JAMA study published in March 2021 repeated the same mistake in mild COVID-19 patients by suggesting they take 0.3 mg/kg for five days on an empty stomach.

          An RCT study known as TOGETHER, published in March 2022 in the New England Journal of Medicine, underdosed ivermectin with 0.4 mg/kg for only three days and did not mention dosing with food.

          Nevertheless, even at this low dose, the ivermectin still reduced hospitalization rates, death, and the need for mechanical ventilation compared to a placebo.

          Clinical Improvement Despite Underdosing

          It is inappropriate to conclude that ivermectin was ineffective based on these RCT studies with major design flaws.

          Despite the poor study design, ivermectin showed clinical benefits and saved lives.

          In the PRINCIPLE study, self-reported recovery was shorter in the ivermectin group than usual care, with a median decrease of 2.06 days. The statistical analysis showed that it met the predefined superiority criteria.

          Furthermore, the analysis showed that ivermectin effectively reduced COVID-19-related hospitalizations and deaths. Only 1.6 percent of 2,157 patients in the ivermectin group experienced hospitalizations or deaths, compared to 4.4 percent of 3,256 patients in the usual care group.

          Even a low dose of ivermectin has demonstrated the potential to save lives. However, the authors concluded, “Ivermectin for COVID-19 is unlikely to provide clinically meaningful improvement in recovery, hospital admissions, or longer-term outcomes.”

          Meanwhile, the report’s appendix includes dozens of recorded clinical benefits in patients treated with ivermectin, such as the time it took to alleviate all symptoms, general unwellness, muscle aches, and headaches. The improvement of symptoms was also sustained, and the severity was reduced. Surprisingly, the source PDF was removed from the website during the writing of this article.

          There are additional examples. Although the previously mentioned 2021 JAMA study underdosed patients, treatment with ivermectin reduced recovery time by two days. In the ACTIV-6 study, only one venous blood clot event was reported in 817 ivermectin-treated patients, compared to five events in 774 placebo-treated patients.

          Statistical Failures

          It is important to note that the definition of treatment effects in an RCT can differ from those discussed in real-life observational studies.

          Sometimes, even if the results of a clinical trial demonstrate a clear effect, the conclusion may still be interpreted as ineffective due to the statistical definition of effectiveness.

          Interpreting statistics can be challenging as they usually involve complicated mathematical models and numerical data that can be manipulated to support a specific agenda. Nevertheless, for the purpose of this discussion, let’s presume that all research is carried out conscientiously and without manipulative intent.

          In a randomized, double-blind, placebo-controlled clinical trial with mild to moderate COVID-19 patients, none of the 55 patients in the ivermectin group died, whereas four of 57 in the placebo group died. This resulted in a comparison of zero percent versus 7 percent. Moreover, only 1.8 percent of ivermectin-treated patients needed invasive ventilation compared to 8.8 percent in the placebo group.

          In other words, ivermectin reduced the risk of death by 100 percent and the need for ventilators by 80 percent.

          However, the article did not provide the p-value (probability value) for the death rate comparison or the invasive ventilation of 0.102 (Table 2), which is higher than the 0.05 threshold considered to be a significant statistical difference.

          P-values are commonly used to test and measure a “null hypothesis,” which states that no differences exist in the effects being studied between two groups. A finding is considered statistically significant and warrants publication when the p-value is 0.05 or less.

          The p-values in this study were deemed insignificant because they were more than 0.05. Accordingly, the authors wrote that this difference was statistically insignificant and concluded that ivermectin “had shown only marginal benefit.”

          How could a 100 percent reduction in death or an 80 percent reduction in ventilation be interpreted as “marginal” effects?

          In the I-TECH study published in JAMA Internal Medicine in 2022, the patients treated with ivermectin had a lower mortality rate of 1.2 percent compared to 4 percent in the comparator group.

          The same conclusion was made as the previous study because the p-value was 0.09 and higher than 0.05.

          If the 7 million patients reported to have died from COVID-19 had been treated with ivermectin, an estimated 4.9 million lives could potentially have been saved based on the 70 percent reduced mortality rate from the I-TECH study; or 4.5 million lives could have been saved based on the 64 percent reduction of mortality in the PRINCIPLE study.

          The life-saving potential of ivermectin has been hindered by the unnecessary statistical threshold. The problem of statistical significance is widespread and frequently causes confusion among scientists.

          A 2016 Nature article raised concerns about the misuse of p-values. A 2019 comment in the same journal stated that “The misuse of statistical significance has done much harm to the scientific community and those who rely on scientific advice.”

          The authors called for abandoning the use of statistical significance to draw conclusions regarding the effectiveness of drugs, such as stating that “drug Y does not work,” and cautioned that such conclusions may result in the dismissal of potentially life-saving drugs.

          The authors also wrote: “Let’s be clear about what must stop; we should never conclude there is ‘no difference’ or ‘no association’ just because a P value is larger than a threshold such as 0.o5.”

          Selection Bias

          Many people, including physicians, may not be aware that interventional studies, particularly RCTs, are are prone to numerous biases, with selection bias being one of the most significant. Excluding potentially eligible individuals due to their anticipated group allocation can lead to selection bias.

          It’s common knowledge that early treatment of COVID-19 is crucial for effective results. The earlier the treatment starts, the more effective it is. These approved antivirals for COVID-19 are used shortly after COVID-19 infection and usually within a few days after symptom onset.

          For example, Paxlovid and molnupiravir registration trials treated patients within only three to five days of symptom onset.

          Early treatment is critical for COVID-19. Efficacy declines rapidly with treatment delay. (c19early.com)

          However, in the PRINCIPLE trial, ivermectin was used for patients within 14 days of symptom onset, while ACTIV-6 treated patients an average of six days after infection.

          Patients with severe kidney disease are normally excluded from phase 3 studies, as they are less likely to respond to antiviral treatment. This approach has been taken by remdesivir (protocol), molnupiravir (protocol), and Paxlovid (protocol). However, such standard exclusion criteria were not taken by the ACTIV-6 or PRINCIPLE study protocols.

          Why was ivermectin treated so unfairly in these clinical trials?

          It is well known that when an RCT is sponsored by Big Pharma, there is often a financial conflict of interest, as the research institutions are usually hired or funded by the pharmaceutical company. In a world where wealth often competes with ethics, how many can resist financial temptation and stay true to moral principles?

          “Hidden agenda bias” occurs when a trial is conducted to demonstrate a desired outcome, rather than to answer a question. In other words, “Don’t do a trial if it won’t show you what you want to find.”

          Proven Without a Profit Motive

          Conducting an RCT to get a drug approved by the FDA requires money. Every drug must be managed by a professional team composed of doctors, database managers, and assistants. Professionals must secure funding, recruit a lead investigator, and find hospitals to conduct the study. An operational team must perform the study, analyze the data, and gain FDA approval.

          Since ivermectin is a generic drug that lacks profitable marketing and a pharmaceutical sponsor, it’s challenging to organize and systematically manage its new application with health authorities, data, and customers.

          Nevertheless, doctors worldwide have been using ivermectin to help patients and have collected valuable data.

          The website c19ivm.org has compiled data on 102 clinical trials proving ivermectin’s consistent effectiveness in treating COVID-19. Studies with negative conclusions about ivermectin are also included, such as the the four RCTs with recognized design flaws.

          Since the beginning of the analysis, ivermectin has consistently shown efficacy. This meta-analysis provides a thorough and transparent real-time analysis of all eligible ivermectin studies.

          The trials were conducted by 1,139 doctors or scientists from 29 countries with 142,307 patients. Out of the total studies, 86 have been peer-reviewed with 128,787 patients, and 49 were randomized controlled trials with 16,847 patients.

          In the studies with comparative groups, ivermectin was shown to reduce the risk of COVID-19 infection by 81 percent, mortality by 49 percent, ICU admission by 35 percent, ventilation usage by 29 percent, and hospitalization by 34 percent.

          In comparison to the control groups, the use of ivermectin as a preventive measure before infection reduced the most severe clinical outcomes of COVID-19 by 85 percent. When used in the early stage of COVID-19, ivermectin decreased the severity of the disease by 62 percent, and when used in late stages, it reduced the clinical severity by 39 percent. Clinical severity is measured by death, ventilation, disease progression, or hospitalization.

          Ivermectin treatment effects in COVID-19 patients, based on a meta-analysis of 102 clinical trials. (c19ivm.org)

          Considering the Entire Picture

          It’s difficult to believe that the designers of these studies were unaware of the dosing of ivermectin. Despite all of the above analyses, the reasoning behind the ivermectin underdosing or unfavorable study design may be linked to factors beyond science.

          A new drug or vaccine cannot achieve an Emergency Use Authorization (EUA) status if there is an existing viable therapeutic available. This fact alone may have impacted many decisions.

          The NIH website lists only those RCTs that I found to have design flaws (or potential fraud) to justify its recommendation against the use of ivermectin in the treatment of COVID-19.

          Peer-reviewed studies showing the efficacy of ivermectin in treating COVID-19 have been retracted without explanation, and doctors have been demonized, censored, and doxxed for speaking the truth.

          Legacy media, including The New York Times and CNN, reported incomplete and improperly interpreted trials that failed to present an accurate representation of ivermectin’s effects.

          It’s important to keep an open mind and consider the entire picture when examining the ivermectin issue, rather than dismissing it as conspiracy or misinformation. This can lead to more informed decisions that could ultimately save lives.

          Views expressed in this article are the opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Thu, 04/11/2024 – 21:15

        • ATF Wants Funding For Data Analysts To Gather Gun Trace Information
          ATF Wants Funding For Data Analysts To Gather Gun Trace Information

          Authored by Michael Clements via The Epoch Times (emphasis ours),

          The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) wants more funding, personnel, and technology, along with Universal Background Checks, to combat gun trafficking.

          “Ghost guns” seized in federal law enforcement actions are displayed in a file photo at the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) field office in Glendale, Calif., on April 18, 2022. (Robyn Beck/AFP via Getty Images)

          The agency included the wish list in Volume III of a four-part report, “National Firearms Commerce and Trafficking Assessment: Firearms Trafficking Investigations.”

          According to the report, the agency is hobbled by unwieldy databases, outdated processes, and a lack of full-time employees to track firearms from their first point of sale to the time they turn up at crime scenes.

          Second Amendment advocates counter that the agency has restrictions on it that prevent it from building a registry of firearms. They say the ATF should be more focused on crime than politics.

          “All the federal government needs to do is prosecute those who break these laws,” Randy Kozuch, executive director of the NRA Institute for Legislative Action (NRA-ILA) said in an email to The Epoch Times.

          An ATF spokesperson did not respond to a request for comment.

          The report draws data from 9,708 ATF firearm trafficking investigations conducted between 2017 and 2021, according to a statement on the ATF webpage.

          It found nearly 230,000 trafficked guns in 7,779 cases between 2017 and 2021. On average, 16 firearms were found per investigation—almost 60 percent of the cases involved five or fewer guns, gun parts, or regulated accessories.

          Dealing firearms without a license was the most common trafficking-related crime reported. This has become something of a hot-button issue for Second Amendment advocates.

          Gun rights advocates who spoke with The Epoch Times dismissed the report as evidence that the ATF has been weaponized. They claim that President Joe Biden is pushing an anti-gun agenda by using the ATF to bludgeon legal gun owners and federally licensed dealers (FFLs).

          Aidan Johnston, Director of Federal Affairs for Gun Owners of America (GOA), said the ATF’s data belies the agency’s true intention. He pointed to the five or fewer firearms uncovered in the majority of the agency’s investigations.

          At the same time, less than one percent of the cases involved 251 or more guns. But those cases accounted for almost 59 percent of the firearms trafficked between 2017 and 2021. Mr. Johnson believes that many cases involve honest FFLs caught up in the ATF’s zero-tolerance policy.

          “They’re actually investigating normal people who sold five guns or less, when they really should be targeting the people they only target one percent of the time,” Mr. Johnston told The Epoch Times.

          “They should not be targeting the people who work in good faith with the ATF.”

          Volunteers help attendees register for the Gun Rights Policy Conference in Phoenix, Ariz., on Sept. 23, 2023. (Michael Clements/The Epoch Times)

          Alan Gottlieb, founder and executive vice president of the Second Amendment Foundation, agrees with Mr. Johnston.

          He says the data can’t be trusted because it’s based on sample data. This fact, combined with what he considers the politicization of the ATF under President Biden, makes the report suspect.

          “It’s hard to trust anything they say,” Mr. Gottlieb told The Epoch Times.

          The report states that the ATF’s current information-gathering system was designed for investigators, not data analysts. If the agency were adequately funded and had full-time analysts, it could provide more accurate and comprehensive reports.

          “Building this functionality into ATF’s data systems is a public safety imperative; it is necessary to enable ATF to provide timely, accurate, and actionable information and analysis to [provide information] on trends and threats posed by firearm trafficking,” the report reads.

          Mr. Johnston scoffed at the idea of increased funding for the ATF. He claims the agency can’t be trusted with the data it has.

          By federal law, the ATF is required to destroy much of the data it gathers on legal firearm owners. This is to prevent it from building a registry of firearms.

          According to the Congressional Research Service, this has not stopped the agency from amassing millions of records from FFLs over the years.

          A February 2024 report by the Service stated that in November 2021, the ATF reported having 921 million records from FFLs that had gone out of business. Mr. Johnston believes the agency has only gathered more records since 2021.

          A participant takes aim during the National Women’s Range Day at Texas Gun Experience on March 9, 2024. The event was sponsored by Gun Owners of America and Epowered2A. (Michael Clements/The Epoch Times)

          “They’ve already built an illegal registry. I don’t support giving an extra dime to this agency,” Mr. Johnston said.

          The report listed crimes the ATF is dedicated to fighting, including providing false information to an FFL, which often occurs when a legal buyer purchases a gun for a prohibited person. This is the so-called straw purchase.

          Another crime mentioned in the report is being a felon in possession of a firearm, which is often the result of a straw purchase.

          According to the report, trafficked firearms were reportedly connected to almost 19 percent of aggravated assaults, 11 percent of homicide cases, and more than 9 percent of attempted homicides.

          Felons Found With Guns

          About 60 percent of those found with trafficked firearms were convicted felons. Almost half, 48 percent, were between 25 and 34 years old.

          “ATF recognizes the role firearms play in violent crimes and pursues an integrated regulatory and enforcement strategy. Investigative priorities focus on armed violent offenders and career criminals, narcotics traffickers, narco-terrorists, violent gangs, and domestic and international arms traffickers,” the online statement reads.

          Mr. Kozuch said nothing is currently stopping the ATF from fighting crime.

          “ATF’s own data undermines its conclusions that new laws are needed, but it’s unsurprising that the Biden Administration’s ATF would use any opportunity to push more gun control,” Mr. Kozuch’s statement reads.

          Mr. Johnston agreed. He said the report makes clear what the ATF sees as its primary mission.

          “They’re not here to crack down on crime; they’re here to crack down on the Second Amendment,” he said.

          Tyler Durden
          Thu, 04/11/2024 – 20:25

        • Ford Lightning Price Cut "Sends Shockwaves Through EV Market" 
          Ford Lightning Price Cut “Sends Shockwaves Through EV Market” 

          Shares of Rivian Automotive, Lucid Group, and Tesla Motors moved lower during the cash session in the US after Ford Motor announced price cuts for its electric F-150 Lightning pickup truck amid concerns about sliding demand across the EV industry. Meanwhile, an EV price war between the automakers rages on as unprofitable EV startups struggle to survive. 

          Let’s begin with a Bloomberg report that says Ford is reducing the price of its Lightning pickup truck by up to 7.5%. Earlier this year, the company paused production of the truck and is set to resume production later in the month

          The largest price cut is on the Flash extended-range model, where customers could expect to save $5,500. The model now starts at around $67,995. Ford told Bloomberg that price cuts will help it “adapt to the market to achieve the optimal mix of sales growth and customer value.”

          The downshift in EV demand has led Chief Executive Officer Jim Farley to reevaluate Ford’s EV strategy by reducing spending on battery-powered vehicles by $12 billion, delaying the launch of various models, and beginning to offer an expanded lineup on gas-electric hybrid propulsion vehicles across North America. 

          Thousands of auto dealers nationwide recently warned the ‘climate change warriors’ in the White House: the 2030 EV push is backfiring. 

          “Currently, there are many excellent battery electric vehicles available for consumers to purchase. These vehicles are ideal for many people, and we believe their appeal will grow over time. The reality, however, is that electric vehicle demand today is not keeping up with the large influx of BEVs arriving at our dealerships prompted by the current regulations. BEVs are stacking up on our lots,” the dealers said. 

          They warned: “Already, electric vehicles are stacking up on our lots which is our best indicator of customer demand in the marketplace.” 

          Many consumers do not embrace the government’s and corporate America’s forced EV adoption schemes. This is now entirely backfiring, as even Tesla’s first-quarter deliveries lagged behind expectations, which may indicate more price cuts are coming. 

          “Reports of Ford reducing prices for the F-150 Lightning EV are sending shockwaves through the EV market, particularly affecting Rivian and Lucid,” Bloomberg Intelligence analyst Steve Man said. 

          Man said, “Both startups are facing challenges that could be exacerbated by another round of EV price cuts, potentially eroding their profit margins and cash reserves at a time when they need to conserve cash.”

          Shares of Rivian dropped the most, down 6.5% in early afternoon trade. Shares of Lucid were down around 2.5%, and Tesla was flat on the session. 

          Recall analyst Adam Jonas at Morgan Stanley recently suggested consolidation is coming to the industry:

          What a turbulent time for the EV space… Someone tell Biden to tell Powell … moar rate cuts, please, to reflate the imploding green bubble. 

          Tyler Durden
          Thu, 04/11/2024 – 20:00

        • From Taiwan To Fentanyl: Biden–Xi Dialogue Changes Nothing
          From Taiwan To Fentanyl: Biden–Xi Dialogue Changes Nothing

          Authored by Antonio Graceffo via The Epoch Times (emphasis ours),

          President Joe Biden speaks during a press conference after meeting with Chinese Communist Party leader Xi Jinping during the Asia-Pacific Economic Cooperation Leaders’ week in Woodside, Calif., on Nov. 15, 2023. (Brendan Smialowski/AFP via Getty Images)

          Commentary

          Biden–Xi talks change nothing about the Chinese Communist Party’s (CCP’s) ambitions: seize Taiwan, destabilize global shipping, distribute fentanyl, and prepare for war by 2035.

          On April 2, in their first conversation since November 2023, President Joe Biden and CCP leader Xi Jinping discussed several pressing issues. These included Beijing’s ongoing economic support for Russia, Chinese military aggression toward Taiwan, Chinese cyberattacks on the United States and its allies, and the CCP’s interference in the 2024 U.S. elections, as well as urging Xi to convince Iran to halt support for terrorists and stop the export of fentanyl precursor chemicals. Xi, for his part, wants President Biden to remove U.S. technology curbs and chip bans.

          The irony of this dialogue lies in Xi’s absolute power within China. With a mere phone call or statement, he could instantly halt support for Russia; end CCP aggression toward Taiwan; demand Iran cease support for Hamas, Hezbollah, and the Houthis; stop fentanyl exports; or prevent CCP interference in elections. The fact that he doesn’t take such actions suggests that this is the way Xi wants it. These policies persist because he believes that they are best for the CCP.

          None of the issues discussed were new. The United States has engaged with China on these issues numerous times in the past. The Taiwan debate, for example, goes back more than half a century. The Russia–Ukraine war is now in its third year, and the only reason the Russian economy has not collapsed is because of the CCP’s ongoing support. The Middle East has always been a hotspot, but since Oct. 7, 2023, the unraveling has accelerated, with both Hamas and Hezbollah exchanging blows with the Israel Defense Forces. At the same time, global shipping is in peril because of the Houthis. Seizing on the opportunity, while the world is busy putting out fires elsewhere, the Somali pirates are back at work, hijacking ships. Xi could easily stop this by threatening to cut off economic and technological support for Tehran. But he has not and will not, irrespective of polite conversations with President Biden.

          Xi has been concerned about the U.S. chip ban and technology restrictions on China, which he says are “creating risks“ in U.S.–China relations. However, the restrictions are there for good reason, as a matter of national security. The Annual Threat Assessment of the U.S. Intelligence Community has again identified the CCP as the country’s No. 1 national security threat.

          The 2024 Threat Assessment reads, “Beijing will focus on building a fully modernized national defense and military force by 2035 and for the PLA to become a world-class military by 2049.”

          Xi did not tell President Biden that he had canceled this goal; to achieve it, he needs U.S. technology and chips. Therefore, Xi has asked Washington to remove its tech restrictions so the modernization of the People’s Liberation Army (PLA) can proceed on schedule and be ready to take on the United States in the coming years.

          The chip and technology issue is just one more example of why these dialogues cannot and will not yield meaningful results. The Biden White House often refers to China as a competitor, not an enemy. Meanwhile, the Department of Defense (DOD) and the Intelligence Community regard China as a threat.

          The DOD’s annual Military and Security Developments report involving the People’s Republic of China (PRC) reads, “The PRC’s strategy entails deliberate and determined efforts to amass, improve, and harness the internal and external elements of national power that will place the PRC in a ‘leading position’ in an enduring competition between systems.”

          As such, the U.S. military prepares for a war with the PLA on an ongoing basis.

          A country you go to war against is an enemy, not a competitor. But whether the term “competitor” or “enemy” is used, it is not in the United States’ interest to enable the modernization of the PLA. This is why former President Donald Trump began a program of tariffs and restrictions on China trade and investment and why President Biden has continued and intensified these restrictions. At the same time, it is not in the CCP’s interest to meet any of the demands made by President Biden.

          One area Xi and President Biden did agree on was global artificial intelligence (AI) governance—a concept that carries frightening implications as it will grant unprecedented censorship powers to those who write and enforce these rules. The United Nations, an organization in which the CCP holds significant influence, favors central control of AI.

          A U.N. statement reads, “Globally coordinated AI governance is the only way to harness AI for humanity while addressing its risks and uncertainties as AI-related services.”

          Wang Yi, director of China’s Office of the Foreign Affairs Commission, issued a statement on AI asserting that “AI should always be placed under human control.” This naturally raises the question: Who will be the human controlling AI?

          The only potential obstacle between Xi and the globalists in finalizing the details of AI governance is China’s desire to govern both the internet and global AI. The most likely outcome will resemble the World Health Organization and World Trade Organization, in which the CCP seeks to exert significant influence in drafting the rules and subsequently violates them as it sees fit.

          As for all the other issues between Washington and Beijing, negotiation or resolution seems unattainable as the two countries are in direct conflict with each other.

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Thu, 04/11/2024 – 19:40

        • More Than $12,000 In Pork Stolen From Truck In Northeast Philadelphia While Driver Slept
          More Than $12,000 In Pork Stolen From Truck In Northeast Philadelphia While Driver Slept

          Today in “signs that inflation continues to run out of control” news, more than $12,000 in pork was stolen from a Northeast Philadelphia truck this week, marking the 37th cargo theft in the area this year. 

          The thieves made off with 56 cases of pork, according to 6ABC Philadelphia.

          As ABC noted, the location where the pork was stolen is a popular overnight stop for truckers en route to morning warehouse deliveries. However, it’s also become a hotspot for theft, with recent incidents on March 14 involving stolen bourbon and meat while drivers were asleep.

          Captain Jack Ryan of the Philadelphia Police Dept. commented: “They are asleep in a lot of cases. The refrigerated trucks make a lot of noise.”

          Trucker Mark Leighton said he has installed a “meat lock” to prevent such thefts. “In order to cut it off, you have to have a massive tool,” he told 6ABC. The suspects in this case escaped in a silver Lexus SUV. 

          Recall last year thieves also stole 2 million dimes worth $200,000 from a truck parked at a Philadelphia Walmart. The truck had $750,000 in dimes in it altogether. Many were found strewn about in a Walmart parking lot where the trailer was parked. 

          The dimes had been picked up at the Philadelphia Mint, but the driver of the truck went home to sleep before planning to drive the next day to Florida. 

          Capt. Jack Ryan of Northeast Detectives commented: “This is common practice – to pick up a load going to Florida and go home for the night, get to sleep, and get on the road in the morning.”

          “They were trying to cross-load the dimes into other things. There are dimes all over the parking lot,” Ryan added, telling 6ABC.

          Tyler Durden
          Thu, 04/11/2024 – 19:20

        • Americans Now Worry About Out-Of-Control Power Bill Inflation
          Americans Now Worry About Out-Of-Control Power Bill Inflation

          Tens of millions of Americans are having trouble paying their power bills as residential electricity inflation continues to run rampant. The latest data from the US Bureau of Labor Statistics (February’s print) shows that three out of every four major cities in the US had power prices rise for residential customers. 

          “Food has been a worry, but now electricity is the worry,” 75yo Alfredo De Avila told Bloomberg, adding, “Unless you want to go to candles and firewood, we have no other choice but to bite the bullet and pay.”

          For the Oakland, California, resident, already battered by high taxes, food inflation, elevated fuel pump prices, and out-of-control violent crime, the latest price increase from the state’s largest electricity utlity, PG&E Corp, of a 13% jump in power bills in January, plus more expected rises this year, could put the retiree under more financial pressure. 

          BLS data (from February’s print) shows that power prices nationwide have jumped 27% since early 2021. 

          The National Energy Assistance Directors Association, representing state directors of the Low Income Home Energy Assistance Program, recently reported that the average US household heating bill was $836. This decreased from $978 the previous year and slightly down from $849 in 2020. Nonetheless, the Household Pulse Survey data in March indicated that 19.2% of families could not pay at least one energy bill in the past 12 months, an increase from 16.5% in the same period the year before. And power bill debt in the nation has just hit a record high. 

          Soaring power costs are happening during a major upgrade of the nation’s power grid. Bloomberg said utilities are “undergoing multibillion-dollar overhauls to replace aging fossil fuel plants with greener alternatives and to make existing systems more resilient to wildfires, hurricanes, and flooding.” 

          https://platform.twitter.com/widgets.js

          In a note last week titled “The Next AI Trade,” we outlined how power grids are racing to increase generation capacity to accommodate new demand, fueled by onshoring trends, electrification of transportation of buildings, extreme weather, and artificial intelligence data centers. 

          “A lot of people’s eyes just popped out in the past six months,” Rob Gramlich, president of Grid Strategies LLC in Washington, DC, said, adding, “It’s been 20 to 25 years of flat power demand, but now we’re in a new mode.”

          Emily Fisher, executive vice president for clean energy at the Edison Electric Institute, a trade group for the utility industry, said these costs can no longer be avoided, noting, “We have to make these investments to have a reliable and affordable system.” 

          Add rampant electricity inflation to the long list of soaring costs, such as the recent surge in gasoline prices at the pump as they inch closer to the politically sensitive level of $4 a gallon, elevated food prices, and the worst housing affordability in a generation. No wonder the vast majority of Americans are fed up with the failure of Bidenomics, as the president’s polling numbers have been going down the drain. 

          America is unaffordable. 

          Tyler Durden
          Thu, 04/11/2024 – 18:40

        • Montana Supreme Court Tries To Move The State Left
          Montana Supreme Court Tries To Move The State Left

          Authored by Rob Natelson via The Epoch Times (emphasis ours),

          The Montana State Supreme Court. (Screenshot via GoogleMaps)

          Commentary

          The Epoch Times reported on March 28 that the Montana Supreme Court struck down four state “election integrity” laws.

          The court’s decision appears to be part of a wider judicial effort to reverse conservative electoral trends in Montana.

          Manipulating elections might not seem like a proper role for a court. And it’s not. But as I detailed in an Epoch Times column on Dec. 4, 2023, the Montana Supreme Court has a record of extreme overreach. I described how the justices have made themselves almost unreviewable by exercising an absolute veto over the state constitutional amendment process.

          The Montana Supreme Court may be the most bizarre appeals bench in the United States. Along with extreme activism, it frequently exhibits leftward bias and legal incompetence. And, as explained below, perhaps a touch of corruption.

          The Court’s Record

          I have followed the Montana Supreme Court for many years. In 1990, I wrote my first scholarly article on its case law. I produced major studies in 2012 and 2018 and again in 2024. Although my initial impression (reflected in the 1990 study) was favorable, experience gradually changed my views.

          Over time, I learned that the justices’ treatment of legal issues, and particularly constitutional issues, often was sub-par.

          I also learned about the court’s leftward political bias. The easiest way to see this bias is to examine how the court treats contested ballot issues. In the years since 1982, it has upheld liberal ballot issues without exception, but almost without exception has struck down conservative ones.

          Montana lawyers have told me the court works in tandem with groups that promote left-wing causes and contribute to the justices’ reelection campaigns.

          More recently we have seen traces of actual corruption surface. In 2021, it came to light that for decades, the court’s administrator allegedly had been involved in illegal lobbying at taxpayer expense. An ensuing legislative subpoena produced a mass of emails supporting this conclusion. Then the justices shut down further discovery. In response to the administrator’s request, they quashed the legislative subpoena on a Sunday, without—as due process requires—giving the Legislature an opportunity to be heard.

          Why Does This Go On?

          As the subpoenaed emails show, the court’s improper behavior has persisted for decades. One reason it continues is that the court enjoys an unusually powerful position in the state political and legal system. It can retaliate against critics.

          Additionally, the liberal political establishment that has dominated the state for many years usually has supported the justices.

          The state’s media are also complicit. When self-serving judicial behavior occurred on the Colorado Supreme Court, the scandal was vetted in the Colorado press and a former chief justice was disciplined. In Montana, though, most of the media are uninterested in uncovering inappropriate judicial behavior—and some actively protect the court.

          Political Change and the Court’s Response

          At long last, however, Montanans are beginning to respond. Some have noticed that in recent years, the U.S. Supreme Court has reversed several high-profile Montana decisions. Moreover, the state is becoming more conservative, and therefore less tolerant of liberal political activism. Republicans now control all executive branch offices and strong majorities in the Legislature.

          Perhaps the biggest factor triggering the public response, however, consists of the court’s extraordinary attacks on the conservative Legislature and on some of the Republican executive branch officials.

          The state Legislature has found its agenda largely stymied, as the court and the trial judges who follow its lead have voided or suspended dozens of new laws. After the attorney general dared criticize the justices, the court’s disciplinary arm began proceedings against him. For a Montana lawyer, in other words, the potential penalty for critiquing the court is to lose your law license.

          The justices have even attacked the Legislature’s internal procedures. This defies a 400-year-old Anglo-American constitutional tradition, which holds that a legislature’s internal rules are off-limits from interference by other branches of government.

          How the Court’s Attack on Election Integrity Fits In

          The Montana Supreme Court’s overruling of election integrity laws is part of a wider pattern. The pattern shows an apparent effort to alter state election rules to disadvantage the state’s conservative majority.

          Last year, the court largely gutted its own constitutional amendment standards to uphold a “jungle primary” amendment designed to squeeze out conservative candidates. Last month, the justices similarly manipulated the rules to sustain a pro-abortion ballot measure fashioned to heighten liberal turnout in the 2024 elections. The court further aided the pro-abortion measure by personally writing its ballot language instead of (as is usual) assigning that task to the attorney general.

          The Election Integrity Case

          The election integrity case began when the Montana Democratic Party and other left-leaning groups challenged laws curbing questionable electoral practices.

          Four laws were challenged. One moved the voter registration deadline from Election Day to the day before. People could still register up to the day before the election, but not on Election Day itself.

          A second law prevented 17-year-olds from sending in ballots before they turn 18.

          The third was a ban on paid ballot harvesting—the risky practice of paying people to collect other people’s ballots.

          The fourth required voters relying on student identification cards to produce additional evidence of identity.

          By any historical measure, all these laws were reasonable and moderate. Traditionally, voting deadlines have been at least 30 days before the election, not one day before. The Montana Constitution provides explicitly that the Legislature—not the courts—chooses whether to adopt Election Day registration. And the Legislature did not choose to do so until 2005.

          Traditionally, also, people have not been allowed to cast ballots before the age of majority. Ballot harvesting—not just paid ballot harvesting—usually has been illegal because of the risk of corruption and the threat to ballot secrecy.

          Requiring identification other than a university ID is necessary because a person should vote at the place of his permanent residence, and student IDs generally don’t disclose one’s permanent residence.

          To strike down measures so eminently reasonable and constitutional required some judicial contortions, but the Montana Supreme Court was up to the job.

          In mandating Election Day registration, it applied a one-way ratchet—essentially saying (amid some fudge) that a legislature can choose to adopt it but can’t choose to repeal it.

          The court held that the measure preventing 17-year-olds from depositing ballots was unconstitutional because their votes were not counted until after their 18th birthday. Of course, this is absurd: The fundamental purpose of the minimum age is to prevent minors from making adult decisions. The time of decision is when the ballot is deposited, not when it is counted.

          The part of the court’s opinion voiding the requirement for corroborating a student identification card ignored the fact that student IDs don’t depict the holder’s permanent residence.

          The section of the opinion voiding the ban on paid ballot harvesting focused on the rights of a small minority on Indian reservations. But it disregarded the risks to ballot secrecy. It overlooked the fact that the law allowed ballot harvesting to continue if no money changed hands. And most importantly, it ignored the fact that most ballot harvesting has nothing to do with Indian reservations. It’s a largely urban phenomenon employed by political activists to win an edge over their rivals.

          Throughout the court’s opinion, the justices demonstrated—as frequently in the past—a strong bias in favor of liberal constituencies at the expense of conservative ones.

          Other Mistakes

          The foregoing may be enough for the general reader. But here’s some red meat for constitutional wonks. In treating the state constitution, the court made two fundamental mistakes that competent jurists would not make.

          First, it relied heavily on the transcript of the convention that drafted the state constitution. But that convention merely made a proposal; it did not convert that proposal into law. The people purportedly did that when they voted on June 6, 1972. (The results of the election were disputed.)

          When Montanans voted, the convention transcript was still unpublished and unavailable. So the court should have focused on what the voters were told—which was somewhat different from what went on in the convention.

          The bench also erred in applying the wrong constitutional tests. It claimed that under the state constitution, voting is a “fundamental right,” and it applied rules applied to other fundamental rights, such as free speech.

          But voting is not like free speech. Unlike restrictions on speech, voting rules traditionally play a central role in promoting good governance. They do so by limiting the franchise to mature people who usually vote in person and know and have a stake in their communities.

          By contrast, practices such as Election Day registration and ballot harvesting impede good governance. They outweigh votes from conscientious people with ballots from uninformed transients who have little or no stake in the community.

          Another reason voting is not like free speech is that while restrictions on speech usually impair rights, voting rules promote rights. Ensuring that an election is fair does not merely protect the public interest. It also protects the voting rights of everyone.

          Even if a rule against paid ballot harvesting burdens a few people, it protects the value of the vote for everyone else.

          In the election integrity cases—as in many others—the Montana Supreme Court showed great concern for certain favored liberal constituencies. But it showed no interest in protecting the votes of the overwhelming majority of Montanans.

          Robert G. Natelson, a former University of Montana constitutional law professor who is a senior fellow in constitutional jurisprudence at the Independence Institute in Denver, authored “The Original Constitution: What It Actually Said and Meant” (3rd ed., 2015). The Frontier Institute has just published his paper, “The Montana Supreme Court: An Institution in Need of Reform” (2024).

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Thu, 04/11/2024 – 18:20

        • Vietnam Real Estate Tycoon Sentenced to Death Over Massive Fraud Amounting To 3% Of GDP
          Vietnam Real Estate Tycoon Sentenced to Death Over Massive Fraud Amounting To 3% Of GDP

          Vietnamese real estate tycoon Truong My Lan was sentenced to death by a court in Ho Chi Minh City in the country’s largest financial fraud case ever, state media Vietnam Net said. The 67-year-old chair of the real estate company Van Thinh Phat was formally charged with fraud amounting to $12.5 billion, or nearly 3% of the country’s 2022 GDP.

          Business woman Truong My Lan attends a trial in Ho Chi Minh City, Vietnam on Thursday, April 11, 2024.

          Lan illegally controlled Saigon Joint Stock Commercial Bank between 2012 and 2022 and allowed 2,500 loans that resulted in losses of $27 billion to the bank, reported state media VnExpress. The court asked her to compensate the bank $26.9 million.

          Despite mitigating circumstances — this was a first-time offense and Lan participated in charity activities — the court attributed its harsh sentence to the seriousness of the case, saying Lan was at the helm of an orchestrated and sophisticated criminal enterprise that had serious consequences with no possibility of the money being recovered, the AP reported.

          Her actions “not only violate the property management rights of individuals and organizations but also push SCB (Saigon Joint Stock Commercial Bank) into a state of special control; eroding people’s trust in the leadership of the Party and State,” VnExpress quoted the judgement as saying.

          Her niece, Truong Hue Van, the chief executive of Van Thinh Phat, was also sentenced to 17 years in prison for aiding her aunt.

          Lan and her family established the Van Thing Phat company in 1992 after Vietnam shed its state-run economy in favor of a more market-oriented approach that was open to foreigners. She had started out helping her mother, a Chinese businesswoman, to sell cosmetics in Ho Chi Minh City’s oldest market, according to state media Tien Phong.

          Van Thinh Phat would grow to become one of Vietnam’s richest real estate firms, with projects including luxury residential buildings, offices, hotels and shopping centers. This made her a key player in the country’s financial industry. She orchestrated the 2011 merger of the beleaguered SCB bank with two other lenders in coordination with Vietnam’s central bank.

          The court found that she used this approach to tap SCB for cash. She indirectly owned more than 90% of the bank, a charge she denied, and approved thousands of loans to “ghost companies,” according to government documents. These loans then found their way back to her, state media VNExpress reported, citing the court’s findings. She then bribed officials to cover her tracks.

          Former central bank official Do Thi Nhan was also sentenced Thursday to life in prison for accepting $5.2 million in bribes.

          Lan’s arrest in October 2022 was among the most high-profile in an ongoing anti-corruption drive in Vietnam that has intensified since 2022. The so-called Blazing Furnace campaign has touched the highest echelons of Vietnamese politics. Even former President Vo Van Thuong resigned in March after being implicated in the campaign.

          But Lan’s trial shocked the nation. Analysts said the scale of the scam raised questions about whether other banks or businesses had similarly erred, dampening Vietnam’s economic outlook and making foreign investors jittery at a time when Vietnam has been trying to position itself as the ideal home for businesses trying to pivot their supply chains away from China.

          Like neighbor China’s, the Vietnamese real estate sector has been hit particularly hard. An estimated 1,300 property firms withdrew from the market in 2023, developers have been offering discounts and gold as gifts to attract buyers, and despite rents for mixed-use properties known in Southeast Asia as shophouses falling by a third in Ho Chi Minh City, many in the city center are still empty, according to state media.

          Tyler Durden
          Thu, 04/11/2024 – 18:00

        • The Deep State Prepares For A Trump Victory
          The Deep State Prepares For A Trump Victory

          Authored by Jeffrey A. Tucker via The Epoch Times (emphasis ours),

          Former President Donald Trump speaks at a campaign event in Grand Rapids, Mich., on April 2, 2024. (Spencer Platt/Getty Images)

          Commentary

          We’ve all wondered if the fix is already in. Given the irregularities of the last election, and the manner in which the whole of the U.S. establishment rallied around one side, maybe a Biden victory in November is a foregone conclusion.

          I’m guilty of believing this. I’ve doubted every prediction that Donald Trump or RFK, Jr. can win. This is not because they won’t get votes. It’s because those votes might not matter enough.

          The power of haters is awesome and ubiquitous. The whole of legacy media, government, corporate tech, pharma, and both the administrative state and the deep state are dedicated to keeping them and their supporters from power.

          We don’t even know if elections really work anymore. It’s entirely possible, in this view, that millions will slog to the polls in November and do their duty in what will only end up as theater. The regime controls the ballots, surely, and nothing can overcome that. A second Biden term, the most unpopular president in my lifetime, is inevitable, in this view. The system is too broken to generate any other outcome.

          Admit it: you have been tempted by this outlook too.

          Well, I’m here to bring you some good news. The deep state has blinked. I will present evidence to you that the bad guys are actually preparing for a full-blown assault on administrative state hegemony. They are working to protect themselves against a victory by someone other than Joe Biden.

          Will it work? I don’t know but what’s super critical is that they are preparing. If it were not possible to win, they wouldn’t bother. In other words, this is very good news!

          The evidence comes from a largely unnoticed press release from the Office of Personnel Management. The legacy media did not report on this at all.

          It reads as follows:

          “The U.S. Office of Personnel Management (OPM) today announced a final rule that clarifies and reinforces long-standing protections and merit system principles for career civil servants,” says the press release.

          It goes on to explain that this rule change makes it much more difficult or even impossible for any new president to reclassify “civil servants” as being under the control of the president. Instead, their jobs are permanent and thus protected against any efforts by a future president to reclassify anyone working for the federal government. None can be fired.

          In particular, the press release explains, this is designed to thwart another attempt to change their employment status, as happened in November 2020.

          “In the first week of the Biden-Harris Administration, President Biden revoked an Executive Order issued by the previous Administration that risked altering our country’s long-standing merit-based civil service system, by creating a new excepted service schedule, known as ‘Schedule F,’ and directing agencies to move potentially large swathes of career employees into this new excepted service status. This attempt would have stripped career civil servants of their civil service protections that ensure that decisions to hire and fire are based on merit, not political considerations.”

          The “previous administration” means of course the Trump White House, which issued the greatest executive order in a hundred years.

          After four years of being subverted and thwarted by the civil service bureaucracy, the White House finally figured out the core problem. There are more than 2 million permanent bureaucrats, ensconced in 430 agencies, who imagine themselves to live outside the democratic system and the U.S. Constitution itself. They believe they are the state and the elected leaders are mere decoration.

          Trump’s executive order insisted that every agency do an internal audit and ferret out any employee who has something to do with making or interpreting policy; that is, anyone whose work impacts on whether the president actually has control of the executive department. All those employees would be reclassified as Schedule F, meaning that they could be replaced if need be.

          That’s it. That’s the whole order. Maybe it doesn’t seem like much but it was actually brilliant. The Trump administration is the first to discover the great secret of American public life, which is that the administrative state has taken on a life of its own. After years of trying, the Trump White House finally happened upon a key lever to gain back control for the people. It’s as simple as that.

          The Washington, D.C. political press freaked out. It was as if a president had found the engine room and the one switch that controls the whole thing. That was never supposed to happen. This produced mayhem inside the bureaucracy, and a doubling and tripling down on the conviction that he could never win a second term, lest this order be carried out.

          That’s why one of the very first actions of the Biden administration was to repeal this executive order. That action made it very clear that Biden’s loyalties were with the deep state first and foremost. He would protect their jobs and power above all else. In fact, the OPM press release brags about this.

          At issue here is a phrase from the initial Trump order. Any employee would be reclassified who deals with “confidential, policy determining, policymaking, or policy-advocating.” Notice this word confidential. This would apply to the whole of the intelligence community, perhaps. So wait, are we saying that the president should be in charge of the CIA, FBI, NSA, NSC, and the entire security apparatus, even to the point that he could fire anyone? Maybe so!

          Such a situation would be intolerable to the bad guys. From their point of view, this would fundamentally upend the functioning of government in America.

          Let’s face it. If the OPM and the whole of the bureaucracy believed there was no threat from Donald Trump or RFK, Jr., such a rule change would not be necessary. They believe it is necessary, which implies that the civil service thinks that the rising populist movement is a genuine threat that could succeed in taking back the country. Otherwise, they wouldn’t bother.

          What is the OPM? It was founded out of the Pendleton Act of 1883, which started the permanent bureaucracy in the United States. With it came the Civil Service Commission, the first name of what later was called the OPM.

          Until that time, and under the Constitution, the U.S. president had full control of the bureaucracy. The new president would typically replace a vast number of bureaucrats with loyalists. This was denounced as the “spoils system” but it could also be called simple democracy in which the people rule themselves through their elected representatives.

          The permanent class of rules grew through wars and crises over a hundred years to become the government that cares not a whit for who is technically elected or otherwise appointed as agency heads. As a matter of habit, they have come to ignore all the comings and goings of the people elected by the population. Elections are just a distraction to them.

          The essential point: Donald Trump and RFK, Jr. represent a genuine threat to the gang that has subverted and nearly wrecked this country. Now we know that this threat is real, else we would not see these efforts to entrench the bad guys and protect them against all conceivable threats.

          As this proves again, the main struggle alive in this country and all over the world is the one between the people and the deep state consisting of a vast network of elites in government, media, the corporate world, banking and finance, private foundations, and global bureaucracies, all working for their own interests at the expense of everyone else.

          It’s a battle for control, and it is the underlying dynamic that shapes our lives right now.

          The bad guys are scared. Now we know this for sure, or they would not be trying to pre-rig the system against fundamental change. The elites believe based on long experience that they can always outwit the rest of the population. We shall see.

          It’s going to be brutal before and after the election. There will be one or several October surprises. If Donald Trump wins, the onset of Winter will kick off propaganda like you have never seen. As the inauguration approaches, absolute hysteria will dawn. The COVID racket will seem like child’s play. Every day and every hour after will consist of wild attempts to stop the administration from functioning. What a time to be alive.

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Thu, 04/11/2024 – 17:40

        • 'Swag, Computers, And Travel': Fani In Hot Seat Again After DOJ Uncovers 'Inconsistencies' With $480K Grant
          ‘Swag, Computers, And Travel’: Fani In Hot Seat Again After DOJ Uncovers ‘Inconsistencies’ With $480K Grant

          The Justice Department has uncovered “inconsistencies” in a $480,000 federal grant used by Fulton County DA Fani Willis, two years after she fired a whistleblower who warned against misusing it to pay for “swag,” computers, and travel.

          According to the Washington Free Beacon, the grant is riddled with reporting discrepancies from Willis’ office.

          “During our review of the award to respond to this inquiry, we have noticed some inconsistencies in what Fulton County has reported to [the Federal Subaward Reporting System] and we are working with them to update their reporting accordingly,” a DOJ spox told the outlet on Friday.

          No further details were provided regarding the $488,000 grant – which was intended for the creation of a Center for Youth Empowerment and Gang Prevention in Atlanta. While the grant ended in September of last year, the center was never opened.

          Jim Jordan

          In early February, House Judiciary Committee Chairman Jim Jordan (R-OH) subpoenaed Willis for records related to the grant, as well as whistleblower allegations made by fired staffer Amanda Timpson, who was listed as the grant director until Willis fired her in January 2022.

          Jordan threatened to hold Willis in contempt of Congress on March 14 after the district attorney responded to his subpoena with a “narrow set of documents” that had nothing to do with Timpson’s whistleblower allegations. Willis wrote in response that Jordan’s demands were “unreasonable and uncustomary” and suggested his investigation was an effort to derail her election interference case against former president Donald Trump. -Free Beacon

          According to Timpson, she was demoted after attempting to stop a top Willis campaign aide, Michael Cuffee, from using part of the $488,000 grant to pay for “swag,” computers and travel.

          “He wanted to do things with grants that were impossible, and I kept telling him, like, ‘We can’t do that,'” Timpson wrote Willis in a Nov. 19, 2021 meeting. “He told everybody … ‘We’re going to get MacBooks, we’re going to get swag, we’re going to use it for travel.’ I said, ‘You cannot do that, it’s a very, very specific grant.‘”

          “I respect that is your assessment,” Willis replied. “And I’m not saying that your assessment is wrong.”

          Willis later apologized to Timpson and said that Cuffee had “failed” her administration – yet less than two months later, Timpson was abruptly fired and escorted out of her office by seven armed investigators, according to Timpson.

          After she filed a wrongful termination whistleblower complaint, Willis’ office said in a statement that Timpson was a “holdover from the prior administration” who was fired due to her “failure to meet the standards of the new administration.”

          According to the Free Beacon:

          Fulton County records show that Willis’s office transferred $88,900 from the federal gang prevention grant to the Offender Alumni Association. But the group’s administrative director, Toni Barnett, told the Free Beacon that she had no idea why the county was reporting making those payments to her group in 2022 and 2023.

          “I have no idea where that information is coming from,” Barnett told the outlet on March 15. “I have no idea why you’re calling or where you’re getting that information from. You need to go to that government resource and you need to let that validate whatever you want to say or print. Because I don’t know what you’re talking about.”

          Read the rest of the report here…

          Tyler Durden
          Thu, 04/11/2024 – 17:20

        • Berkeley Prosecutors Cut Probation Deal For Scientist Who Tried To Kill Colleague
          Berkeley Prosecutors Cut Probation Deal For Scientist Who Tried To Kill Colleague

          Authored by Jonathan Turley,

          I have been a criminal defense attorney for my entire career, but there is a case out of Berkeley, California that is a real head scratcher…

          David Xu was the chief metallurgist for a company called Berkeley Engineering and Research (BEAR) and was caught on tape trying to poison a colleague. His actions are blamed for not only causing harm to Rong Yuan, but her parents.

          After spending only 10 days in jail, Alameda County prosecutors and a judge signed off on a probation deal in the case.

          Xu was arrested back in 2019 after Yuan became suspicious that her illness (which she thought might be cancer) might be related to a water bottle that she used at work.

          When her parents used the bottle to cook, they also became ill. 

          She set up a spy camera at work and caught David Xu tampering with the water bottle. It was tested and found to contain “extraordinarily high levels of cadmium, a poisonous heavy metal.”

          That seems a pretty strong case for two counts of poisoning and an attempted murder prosecution.

          Yet, the prosecutors dropped the attempted murder charge and accepted a plea on the two poisoning counts. Then a probation officer recommended no jail time.

          The officer wrote that

          “The defendant is highly educated and living at home with his wife and children. He is employed and earning a stable income. Although this matter represents the first and only offense, it was serious in nature and could have resulted in death or serious illness of the victims…. It is the hopes of this deputy that the defendant will take advantage of this second chance and can satisfactorily complete this probation.”

          Even on the two poisoning counts, one would expect some jail time.

          This man hurt three people and could have killed a colleague.

          Yet, Alameda County DA Pamela Price signed off on letting Xu spend less than two weeks in jail for his crimes.

          It is not clear what it takes to get actual jail time in Alameda County under Price.

          The San Francisco Chronicle was unable to get sentencing data from her office and Price is the subject of a recall campaign over her lax enforcement record.

          Tyler Durden
          Thu, 04/11/2024 – 17:00

        • Ukraine Passes Divisive Conscription Law Which Aims To Bolster Forces by 500,000
          Ukraine Passes Divisive Conscription Law Which Aims To Bolster Forces by 500,000

          Ukraine’s parliament on Thursday passed an ultra-controversial military mobilization law aimed at drastically boosting the number of its troops at a moment forces are facing severe manpower shortages amid the unrelenting Russian onslaught.

          It passed with a clear majority supporting, with 283 votes in favor in the 450-member parliament. The NY Times writes in the wake of the much-anticipated vote, “The law passed by legislators on Thursday addresses the issue of mobilization broadly, and includes provisions that lawmakers said were aimed at making the conscription process more transparent and equitable. The full text of the law was not immediately available.”

          Getty Images

          But among the most immediately controversial elements will include expanded powers given to Ukrainian authorities to issue draft notices on a larger scale, including using an electronic system. It also reportedly expands the age for draft registration, including for those living abroad.

          Recruiters have long sought to stamp out draft evasion, to the point of tackling and arresting young men in the streets, after which they are sent to brief training and then the front lines.

          But the most controversial aspect is that a key provision got quashed which assured rotation of servicemen. In many cases the same ground units have been stuck at front line positions since the start of the war. Troops had been promised that reinforcements would soon be rotated from rear positions, but this assurance is no longer the case:

          The vote came after parliament’s defense committee removed a key provision from the draft Tuesday that would ensure the rotation of servicemen after 36 months of combat, a move that surprised some lawmakers as it had been a promise of the Ukrainian leadership.

          Lawmaker Oleksii Honcharenko said in a Telegram post that he was shocked by the move to remove the provision. It was likely taken out because, considering the scale and intensity of the war against Russia, it would prove difficult to implement. Ukraine already suffers from a lack of trained recruits capable of fighting, and demobilizing soldiers on the front lines now would deprive Ukrainian forces of their most capable fighters.

          Thursday’s parliament vote paves the way for another comprehensive defense ministry mobilization policy and law which is to be focused on demobilization, expected to be issued within the next eight months. This appears to be a move to soften the controversy surrounding this fresh mobilization that just passed. 

          But by then it could be too late, as all of this could unleash Ukrainian fighting in the streets as recruiters are expected to widen the net of those being drafted into the military. Many young Ukrainian men and their families see the prospect of being shipped off to the front lines as a certain death sentence, as the war grinds on with no prospect of peace negotiations in sight for now.

          https://platform.twitter.com/widgets.js

          Back in February, former army Commander in Chief Valery Zaluzhny sparked controversy in saying that Ukraine needs have a half-million more new recruits this year if it hopes to keep up force strength. He had also explained that exhausted men who had served for two years at the front lines needed to be rotated out. President Zelensky, reportedly fearing immense public backlash over the proposed policy, sacked his defense chief and made him ambassador to the UK. But now it appears Kiev has no choice, given Zelensky has abandoned the option of sitting at the negotiating table with Putin.

          Tyler Durden
          Thu, 04/11/2024 – 16:40

        Digest powered by RSS Digest

        Apr 11

        Today’s News 11th April 2024

        • "I Am Going To Lecture You On Climate Change": BBC Reporter Gets Schooled For Hypocrisy
          “I Am Going To Lecture You On Climate Change”: BBC Reporter Gets Schooled For Hypocrisy

          Authored by Tilak K. Doshi via RealClear Politics,

          On March 28, President Mohamed Irfaan Ali of the South American country of Guyana became an instant hero to many as he refused to take lectures on climate change from a BBC reporter during an interview. In a two-minute video clip that went viral on X (formerly Twitter) and other social media, President Ali turned the tables on the BBC’s Stephen Sackur when the reporter accused Guyana of worsening the “climate crisis” by allowing the exploitation of its newly found oil and gas reserves.

          “Over the next decade or two, it’s expected that there will be $150 billion worth of oil and gas extracted off your coast,” Sackur told the president. “It’s an extraordinary figure. But think of it in practical terms. That means – according to many experts – two billion tons of carbon emissions will come from your seabed from those reserves and released into the atmosphere.” Guyana’s head of state quickly rebutted: “Let me stop you right there. Did you know that Guyana has a forest that is the size of England and Scotland combined, a forest that stores 19.5 gigatons of carbon, a forest that we have kept alive?”

          When the reporter asked President Ali whether the rainforest gave him the “right” to release the carbon, the Guyanese leader retorted: “Does that give you the right to lecture us on climate change? I’m going to lecture you on climate change.” Being lectured by the BBC on climate change is not a new development; it’s what the state-supported media service often does, and in hectoring tones. But is the BBC correct in its proclamations about what the “climate science” says?

          https://platform.twitter.com/widgets.js

          Climate Alarmists and Their Detractors

          The BBC seems institutionally committed to an alarmist position in its coverage of climate change issues. Many BBC programs seem driven to inject the “climate catastrophe” narrative into every energy-related news item. Stephen Sakur’s pointed remarks to Guyana’s president on the country’s rapid emergence as an oil and gas exporter were unexceptional in this regard.

          The response on social media to the viral clip is telling. Here is a short selection from X on March 29 and 30:

          Chris Rose (over 130,000 followers): “This is magnificent to watch. The President of Guyana truly put the BBC in its place. When sanctimony and pomposity meets [sic] sense and modesty.”

          Simon Ateba (over 670,000 followers): “EXPLOSIVE: President Mohamed  Irfaan Ali (@presidentaligy) of Guyana obliterates @BBC journalist Stephen Sackur (@stephensackur) over climate change hypocrisy. ‘No, no, I’m not done yet!’ WATCH.”

          Dilly Hussain  (over 110,000 followers): “LET ME STOP YOU RIGHT THERE!” An absolute masterclass shutdown by President Mohamed Irfaan Ali of Guyana when probed by @BBCHARDtalk’s Stephen Sackur on his country’s new found oil and gas fields and the West’s concerns about “carbon emissions”.

          Visegrád 24 (over 970,000 followers): “I am going to lecture you on climate change,” says Guyana President @presidentaligy to BBC journalist Stephen Sackur, as he pushes back against the journalist attempting to lecture the Caribbean leader about oil being bad for the environment.”

          The headlines of leading newspapers on March 30 reflected these social media messages:

          The Telegraph: “Watch: Guyana’s president scolds BBC presenter for climate change ‘lecture.’”

          Times of India: “‘Are you in their pockets?’: Guyanese President calls out reporter for Western hypocrisy.”

          Fox News: “Video of Guyana’s president snapping back at BBC reporter’s climate quiz goes viral: ‘Let me stop you.’”

          Hypocrisy As the Default Option in Climate Change Narratives

          What is of interest here is the inherently hypocritical nature of the interactions between representatives of developed countries and those of developing ones concerning energy and climate policies. Some of the most apparent of such interactions occur during the UN’s annual COP (“Conference of Parties”) climate summits.

          UN Secretary-General António Guterres, never one to shy from hyperbolic pronouncements, warns of a “code red for humanity. The alarm bells are deafening, and the evidence is irrefutable.” Indeed, based on dubious “hockey-stick” global-warming models formulated in the West, the secretary-general proclaims the approach of the “era of global boiling.”

          At COP26, held in 2021 in Glasgow, Western leaders addressed those making up 80% of humanity in speeches that reeked of carbon imperialism (here, here, and here). Their message can be fairly summarized as follows:

          We pledge climate finance to help you. There are promising new energy technologies to achieve our goals of net zero by 2050. The outlook for new jobs and economic growth are limitless with solar and wind power, electric vehicles, green hydrogen and carbon capture and sequestration. However, we must stop all new fossil fuel investments now! You must give up fossil fuels or else the planet is doomed.

          Faced with the increasingly untenable hypocrisy of the Western elites discouraging fossil fuel use in the developing world, the pushback by leaders such as Guyana’s President Ali is no surprise. In 2015, the Indian government’s then-chief economic adviser Arvind Subramaniam spoke in no uncertain terms of a new carbon imperialism: “The rich world’s move against fossil fuels is a disaster for India, and other poorer countries.”

          In the lead-up to COP27 held in Sharm Al Sheikh, Egypt in 2022, Africa’s top energy official, Amani Abou-Zeid, the African Union Commissioner for Infrastructure and Energy, said that African countries will push for “a common energy position that sees fossil fuels as necessary to expanding economies and electricity access.”

          At the COP28 climate summit held in Dubai, UAE, Dr. Sultan Al Jaber, president of the summit and CEO of Abu Dhabi National Oil Company, rebutted questions from Mary Robinson, a former UN special envoy for climate change: “There is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what’s going to achieve 1.5 C [maximum global temperature increase].” In an interview, he said that “You’re asking for a phase-out of fossil fuels . . . Please, help me, show me the roadmap for a phase-out of fossil fuel that will allow for sustainable socio-economic development, unless you want to take the world back into caves.”

          URL: Cartoons by Josh

          That’s Enough Already!

          Germany, the world leader in green energy ambitions, provides the best lesson of untenable hypocrisy when faced with the real-world constraints of physics and economics. In 2022, the country faced the prospect of entering winter without adequate energy supplies. It had shut down its nuclear power plants and lost access to piped Russian natural gas by imposing sanctions against Moscow (which was then followed by the sabotage of the Nordstream pipeline). In this context, Germany quickly retreated to coal power generation, and it now plans to double its gas-fired power-generating capacity.

          According to Doomberg, an energy and finance consultancy, Germany moved back to coal “with the speed and efficiency of the British evacuation of Dunkirk.” The IEA, the institution most responsible for the West’s clarion calls to stop fossil fuel investments, noted that Germany’s “significant reversal” drove European coal consumption up 9% in 2022. Energy security and the need to heat homes and keep lights on and factories humming trumped virtue-signaling climate goals – and Germany’s abject hypocrisy is obvious to many leaders in the developing world.

          Guyana’s President Irfaan Ali has little to explain, much less apologize for, as his country rapidly emerges as an important South American exporter of hydrocarbons. Let the BBC’s reporters peddle their luxury beliefs to those who think they can afford them.

          Dr. Tilak K. Doshi is an energy economist, independent consultant, and a Forbes contributor based in London.

          Tyler Durden
          Thu, 04/11/2024 – 02:00

        • Tyranny By The Numbers: The Government Wants Your Money Any Way It Can Get It
          Tyranny By The Numbers: The Government Wants Your Money Any Way It Can Get It

          Authored by John & Nisha Whitehead via The Rutherford Institute,

          The government wants your money.

          It will beg, steal or borrow if necessary, but it wants your money any way it can get it.

          This is what comes of those $1.2 trillion spending bills: someone’s got to foot the bill for the government’s fiscal insanity, and that “someone” is the U.S. taxpayer.

          The government’s schemes to swindle, cheat, scam, and generally defraud taxpayers of their hard-earned dollars have run the gamut from wasteful pork barrel legislation, cronyism and graft to asset forfeiture, costly stimulus packages, and a national security complex that continues to undermine our freedoms while failing to making us any safer.

          Americans have also been made to pay through the nose for the government’s endless wars, subsidization of foreign nations, military empire, welfare state, roads to nowhere, bloated workforce, secret agencies, fusion centers, private prisons, biometric databases, invasive technologies, arsenal of weapons, and every other budgetary line item that is contributing to the fast-growing wealth of the corporate elite at the expense of those who are barely making ends meet—that is, we the taxpayers.

          According to the number crunchers with the Committee for a Responsible Federal Budget, in order to spend money it doesn’t have on programs it can’t afford, the government is borrowing roughly $6 billion a day.

          Basically, the U.S. government is funding its existence with a credit card.

          Let’s talk numbers, shall we?

          The national debt (the amount the federal government has borrowed over the years and must pay back) is more than $34 trillion and will grow another $19 trillion by 2033.

          The bulk of that debt has been amassed over the past two decades, thanks in large part to the fiscal shenanigans of four presidents, 10 sessions of Congress and two wars.

          It’s estimated that the amount this country owes is now 130% greater than its gross domestic product (all the products and services produced in one year by labor and property supplied by the citizens).

          In other words, the government is spending more than it brings in.

          The U.S. ranks as the 12th most indebted nation in the world, with much of that debt owed to the Federal Reserve, large investment funds and foreign governments, namely, Japan and China.

          Interest payments on the national debt are more than $395 billion, which is significantly more than the government spends on veterans’ benefits and services, and according to Pew Research Center, more than it will spend on elementary and secondary education, disaster relief, agriculture, science and space programs, foreign aid, and natural resources and environmental protection combined.

          According to the Committee for a Reasonable Federal Budget, the interest we’ve paid on this borrowed money is “nearly twice what the federal government will spend on transportation infrastructure, over four times as much as it will spend on K-12 education, almost four times what it will spend on housing, and over eight times what it will spend on science, space, and technology.”

          In ten years, those interest payments will exceed our entire military budget.

          This is financial tyranny.

          We’ve been sold a bill of goods by politicians promising to pay down the national debt, jumpstart the economy, rebuild our infrastructure, secure our borders, ensure our security, and make us all healthy, wealthy and happy.

          None of that has come to pass, and yet we’re still being loaded down with debt not of our own making while the government remains unrepentant, unfazed and undeterred in its wanton spending.

          Indeed, the national deficit (the difference between what the government spends and the revenue it takes in) remains at more than $1.5 trillion.

          If Americans managed their personal finances the way the government mismanages the nation’s finances, we’d all be in debtors’ prison by now.

          Despite the government propaganda being peddled by the politicians and news media, however, the government isn’t spending our tax dollars to make our lives better.

          We’re being robbed blind so the governmental elite can get richer.

          In the eyes of the government, “we the people, the voters, the consumers, and the taxpayers” are little more than pocketbooks waiting to be picked.

          “We the people” have become the new, permanent underclass in America.

          Consider: The government can seize your home and your car (which you’ve bought and paid for) over nonpayment of taxes. Government agents can freeze and seize your bank accounts and other valuables if they merely “suspect” wrongdoing. And the IRS insists on getting the first cut of your salary to pay for government programs over which you have no say.

          We have no real say in how the government runs, or how our taxpayer funds are used, but we’re being forced to pay through the nose, anyhow.

          We have no real say, but that doesn’t prevent the government from fleecing us at every turn and forcing us to pay for endless wars that do more to fund the military industrial complex than protect us, pork barrel projects that produce little to nothing, and a police state that serves only to imprison us within its walls.

          If you have no choice, no voice, and no real options when it comes to the government’s claims on your property and your money, you’re not free.

          It wasn’t always this way, of course.

          Early Americans went to war over the inalienable rights described by philosopher John Locke as the natural rights of life, liberty and property.

          It didn’t take long, however—a hundred years, in fact—before the American government was laying claim to the citizenry’s property by levying taxes to pay for the Civil War. As the New York Times reports, “Widespread resistance led to its repeal in 1872.”

          Determined to claim some of the citizenry’s wealth for its own uses, the government reinstituted the income tax in 1894. Charles Pollock challenged the tax as unconstitutional, and the U.S. Supreme Court ruled in his favor. Pollock’s victory was relatively short-lived. Members of Congress—united in their determination to tax the American people’s income—worked together to adopt a constitutional amendment to overrule the Pollock decision.

          On the eve of World War I, in 1913, Congress instituted a permanent income tax by way of the 16th Amendment to the Constitution and the Revenue Act of 1913. Under the Revenue Act, individuals with income exceeding $3,000 could be taxed starting at 1% up to 7% for incomes exceeding $500,000.

          It’s all gone downhill from there.

          Unsurprisingly, the government has used its tax powers to advance its own imperialistic agendas and the courts have repeatedly upheld the government’s power to penalize or jail those who refused to pay their taxes.

          While we’re struggling to get by, and making tough decisions about how to spend what little money actually makes it into our pockets after the federal, state and local governments take their share (this doesn’t include the stealth taxes imposed through tolls, fines and other fiscal penalties), the government continues to do whatever it likes—levy taxes, rack up debt, spend outrageously and irresponsibly—with little thought for the plight of its citizens.

          To top it all off, all of those wars the U.S. is so eager to fight abroad are being waged with borrowed funds. As The Atlantic reports, “U.S. leaders are essentially bankrolling the wars with debt, in the form of purchases of U.S. Treasury bonds by U.S.-based entities like pension funds and state and local governments, and by countries like China and Japan.”

          Of course, we’re the ones who have to repay that borrowed debt.

          For instance, American taxpayers have been forced to shell out more than $5.6 trillion since 9/11 for the military industrial complex’s costly, endless so-called “war on terrorism.” That translates to roughly $23,000 per taxpayer to wage wars abroad, occupy foreign countries, provide financial aid to foreign allies, and fill the pockets of defense contractors and grease the hands of corrupt foreign dignitaries.

          Mind you, that’s only a portion of what the Pentagon spends on America’s military empire.

          The United States also spends more on foreign aid than any other nation, with nearly $300 billion disbursed over a five-year period. More than 150 countries around the world receive U.S. taxpayer-funded assistance, with most of the funds going to the Middle East, Africa and Asia. That price tag keeps growing, too.

          As Forbes reports, “U.S. foreign aid dwarfs the federal funds spent by 48 out of 50 state governments annually. Only the state governments of California and New York spent more federal funds than what the U.S. sent abroad each year to foreign countries.”

          Most recently, the U.S. has allocated nearly $115 billion in emergency military and humanitarian aid for Ukraine since the start of the Russia invasion.

          As Dwight D. Eisenhower warned in a 1953 speech, this is how the military industrial complex continues to get richer, while the American taxpayer is forced to pay for programs that do little to enhance our lives, ensure our happiness and well-being, or secure our freedoms.

          This is no way of life.

          Yet it’s not just the government’s endless wars that are bleeding us dry.

          We’re also being forced to shell out money for surveillance systems to track our movements, money to further militarize our already militarized police, money to allow the government to raid our homes and bank accounts, money to fund schools where our kids learn nothing about freedom and everything about how to comply, and on and on.

          There was a time in our history when our forebears said “enough is enough” and stopped paying their taxes to what they considered an illegitimate government. They stood their ground and refused to support a system that was slowly choking out any attempts at self-governance, and which refused to be held accountable for its crimes against the people. Their resistance sowed the seeds for the revolution that would follow.

          Unfortunately, in the 200-plus years since we established our own government, we’ve let bankers, corporate turncoats and number-crunching bureaucrats muddy the waters and pilfer the accounts to such an extent that we’re back where we started.

          Once again, we’ve got a despotic regime with an imperial ruler doing as they please.

          Once again, we’ve got a judicial system insisting we have no rights under a government which demands that the people march in lockstep with its dictates.

          And once again, we’ve got to decide whether we’ll keep marching or break stride and make a turn toward freedom.

          But what if we didn’t just pull out our pocketbooks and pony up to the federal government’s outrageous demands for more money?

          What if we didn’t just dutifully line up to drop our hard-earned dollars into the collection bucket, no questions asked about how it will be spent?

          What if, instead of quietly sending in our tax checks, hoping vainly for some meager return, we did a little calculating of our own and started deducting from our taxes those programs that we refuse to support?

          As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, we’re no longer living the American dream.

          We’re living a financial nightmare.

          Tyler Durden
          Wed, 04/10/2024 – 23:40

        • "We're Going To Lose A Major War": US Navy Deletes Photo Of Ship Commander Shooting Rifle With Backwards Scope 
          “We’re Going To Lose A Major War”: US Navy Deletes Photo Of Ship Commander Shooting Rifle With Backwards Scope 

          Cmdr. Cameron Yaste, the Commanding Officer of the Arleigh Burke-class guided-missile destroyer USS John S. McCain (DDG 56), was recently photographed shooting a 5.56×45mm M4 carbine with the optics installed backward. 

          The now-deleted image and press release on the Defense Visual Information Distribution Service website featured Yaste shooting the M4 with the Trijicon VCOG scope installed backward while pointed at a giant target balloon.

          Here’s what the press release said before it was deleted: 

          Cmdr. Cameron Yaste, the Commanding Officer of the Arleigh Burke-class guided-missile destroyer USS John S. McCain (DDG 56), fires at the “killer tomato” during a gun shoot. The ship is in US 7th Fleet conducting routine operations. 7th Fleet is the US Navy’s largest forward-deployed numbered fleet, and routinely interacts and operates with Allies and partners in preserving a free and open Indo-Pacific Region.

          Here’s how to properly use the scope…

          The website Internet Archive saved a snapshot of the press release: 

          Netizens mocked the Navy commander, and that’s probably why the service deleted the image and text. 

          Here’s what the internet had to say: 

          https://platform.twitter.com/widgets.js

          https://platform.twitter.com/widgets.js

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          Yaste merely shows how the US Navy is unprepared to fight the next major conflict. Sigh… 

          Tyler Durden
          Wed, 04/10/2024 – 23:20

        • The End Of The Neo-Liberal Order
          The End Of The Neo-Liberal Order

          Authored by ‘Dalwhinnie’ via BombThrower.com,

          It’s no longer about markets. It’s about identity.

          The historian Prof. Gary Gerstle maintained that the neo liberal order was coming to an end, that free movement of goods, money, ideas and talent characterized the neo liberal order and that it was in the process of losing ascendancy. Losing ascendancy does not mean disappearing, it means losing ascendancy. Peter Zeihan says much the same and locates the issue in the guarantee offered by the US Navy since WW2 to police the sea lanes of the world. Also large diesel engines and cheap fuel may have as much to do with trade as any deliberate policy measures. I digress.

          Somewhat to my surprise I agreed with the leftist professor of history.

          So far so good. I have ordered his book and will read it skeptically. (The Rise and Fall of the Neo-Liberal Order).

          The neo liberal order got going about the time of Reagan and Thatcher and was characterized by reliance upon, and praise for, the market. In the period under discussion, various US Presidents, of whom Clinton is prominent, also pursued neo liberal promarket policies. This illustrates the tendency for large movements of policy to continue despite changes in the party holding the presidency. Canada obtained free trade with the US, and many liberalizing trade measures were adopted throughout this period roughly 1970-2000.

          The next assertion of the professor was that the dominance of neo liberalism was coming to an end. I also agree with that assertion, perhaps for different reasons than those of the learned professor.

          The effects of the neo liberal order were various and I shall try to point out the major features. This is obviously me talking, not Professor Gerstle.

          • off shoring of domestic North American manufacturing, which led to the gutting of manufacturing towns, increasing despair and drug addictions (viz Angus Deaton on deaths of despair in the working class) and much cheaper goods at the stores

          • Industrialization of much of the rest of the world. When did you first notice that clothing you wore came from Cambodia, Indonesia, or Vietnam?

          • Very significant increase of the national share of wealth to the top 1% and eventually the top 1% of the 1% as the economy became more monetary and intangible and less a matter of things produced. Software firms worth more than Boeing or Ford for instance.

          • Oxycontin plagues and mass drug addictions

          • Very high rates of non white immigration of peoples to Europe and North America. You are not supposed to notice this, by the way. But assimilation is not proceeding too well in many European countries and the same process is well underway in the United States.

          The remainder of Professor Gerstle’s talk concerned Trump, Orban and Bolsonaro and the supposed authoritarianism of same and the threat to democracy. I should say “democracy” because clearly the word has become code for something other than changes of governments in a populist direction. These are held to be threats to “democracy” which seem to consist of changes of history of which leftists disapprove.

          Here is where I depart from Professor Gerstle’s alarmism about populist changes to governments.

          He was also concerned with the January 6th insurrection on the hill and the menace it portended to the continuity of American institutions. I was once very alarmed by January 6th riots until I began to believe the entire event was a police -infiltrated and significantly police-inspired stunt to disgrace Trump. It has worked.

          Prof. Gerstle along with many other Democrats believes that democracy is under attack.

          Let me try to set forth the reasoning of many on the Trumpist right, if “right” is the term to be applied. Here we get to territory that will summon forth political disagreement.

          For many of us, a combination of events has persuaded us that democracy is already in grave danger from the following, which is largely drawn from the US experience.

          • A politicized leftist judiciary and prosecutorial apparatus

          • A politicized federal police

          • A politicized intelligence apparatus

          • An almost certainly manipulated if not stolen presidential election

          • Uncontrolled immigration of people, some of whom are in the United States with subversive intentions

          • The immigration of 20 or 40 millions is not being controlled because the Democrats want to achieve permanent electoral supremacy by endowing the illegals with votes

          • A minor but serious plague has been used as a pretext for a massive repression of personal liberties both of trade and movement on the basis of compulsory vaccination by radical mRNA therapies that have been insufficiently tested, and which appear to be causing a serious increase of deaths in the general population

          • which plague was engineered by experiments in gain of function (increased lethality) research funded by US sources in Chinese laboratories (RFK I pushing these buttons as a central part of his electoral campaign)

          • A push by all global leaders and bureaucracies to reduce energetic throughputs, the basis of wealth creation, in the name of a spurious climate agenda.

          • A fundamental attack on sex roles being carried on as the focus of the next personal liberation struggle.

          So yes, the people, rightly or wrongly, are unhappy with the state of their governments and what these governments have so clearly indicated they wish to do.

          Consequently, as a result of governments being so badly misaligned with their electorates, and so apparently ready to call opposition to their intentions as “far right” “fascist” “transphobic”, and so ready to denigrate the white settler populations of which the electorate is still mostly composed, the neo liberal order is coming to an end. This is occurring not because of trade issues, or income inequality, but because of fundamental challenges posed by left wing governments to the people who still compose the electorates.

          To what do we belong? To the nation, or to various sexual and cultural minorities?

          Trump has a clear answer. Biden, if he has an answer at all, says that most Americans belong to an illegitimate race. And if he cannot say this, his minions state it or insinuate it.

          The neo liberal order is coming to an end because the issues have decisively moved on from trade and markets to identity and belonging.

          *  *  *

          Sign up for The Bombthrower mailing list  to get unacceptable opinions written by fringe extremists – straight into your inbox. You’ll also receive The Crypto Capitalist Manifesto – The Great Reset is a Monetary Regime Change: Join today »

          Tyler Durden
          Wed, 04/10/2024 – 23:00

        • Huge Dovish Bet Loses $50 Million In One Day
          Huge Dovish Bet Loses $50 Million In One Day

          Late on Tuesday, the financial world was swept up by a report from Bloomberg according to which an unknown trader had put on single record-sized trade, betting that today’s CPI print would come in dovish, and forcing the Fed to cut sooner. It did not work out quite as expected.

          For those who missed it, a significant block trade in US short-term interest-rate futures, specifically in December 2024 SOFR futures, took place during market hours on Tuesday, marking the largest trade of its kind. This trade – which was widely publicized by Bloomberg – contributed to driving gains in the Treasury market. After all, nobody would gamble tens of millions if they didn’t know something.

          The trade, likely initiated by a buyer, coincided with expectations of benign March consumer price index data, potentially leading to a revival in expectations for Fed rate cuts. Confidence in this outlook was reinforced by State Street Global Advisors predicting an aggressive half-point Fed rate cut by June and remarks from US President Joe Biden’s economic aide, Lael Brainard. As of the time of the trade, the swaps market was pricing in approximately 65 basis points of Fed rate cuts by year-end. The December 2024 SOFR futures were trading slightly higher than the block trade’s price, indicating continued market activity and investor interest in hedging or speculating on interest rate movements.

          In retrospect, it turned out that the trader really didn’t know anything, and on Wednesday the trade blew up in spectacular fashion after a stronger-than-expected reading triggered a market rout.

          According to Bloomberg calculations, moments after the CPI print, which came in hot on every possible metric, the position was roughly $50 million in the red, based on price moves in the underlying December 2024 futures.

          As duly noted earlier, after Wednesday’s red hot report, expectations for the first full quarter-point rate cut this year wilted and shifted to November from September, with the market now pricing in less than two 25 basis-point moves for all of 2024.

          While it’s not known who placed the record futures bet, or whether it was made in conjunction with other trades, the scale of the block trade — with a $2MM DV01, or $2 million in gains or losses per basis point move — suggests it was made to offset a separate underlying position, possibly a bearish stance although it is unclear. Separate data released Wednesday from the CME suggested the trade was a new wager or hedge, rather than short-covering of an existing position.

          The unknown trader was not the only casualty of today’s red hot inflation number: on Tuesday, State Street predicted a half-point cut as soon as the June meeting; instead swaps are now pricing in just 3 basis points of cuts for the FOMC meeting. If State Street had put money on the trade, it is now gone… all gone.

          Tyler Durden
          Wed, 04/10/2024 – 22:40

        • California's Latest Hustle: Utility Bills Based On Ratepayers' Income
          California’s Latest Hustle: Utility Bills Based On Ratepayers’ Income

          Authored by Jane L. Johnson via The Mises Institute,

          Utility bills – for electricity, natural gas, water, and garbage – have by long-standing tradition been based on customer usage, measured in kilowatt-hours of electricity, therms or Btu of natural gas, hundred cubic feet of water, or number of garbage cans.

          Every residence and business has electric, gas, and water meters that measure utility usage.

          But changes are afoot in the utility business as federal and state governments urge Americans to convert from fossil fuels to electricity for home heating, appliances, and transportation. From this transition will undoubtedly follow changes in utility rate-setting models.

          Fixed Fees Coupled with Usage-Based Electricity Rates

          Some electric utilities currently charge customers a flat, fixed fee as well as usage-based charges, both on the same monthly bill. The fixed fees, often called “customer charges” or “meter-reading charges,” are imposed irrespective of energy usage. These fees assure revenue stability and offset the overhead expenses of running electric utilities. Energy usage-based charges, which can vary seasonally, are designed (and regulated) to recover the cost of the electricity sold.

          Economists refer to this pricing strategy as a two-part tariff in which the consumer must pay a fixed fee for the right to buy a product or service (energy in the case of electric utilities). This pricing model effectively maximizes revenue for sellers that have some monopoly pricing power in their respective markets because of the way they have structured their businesses. Electric utilities are, of course, regulated monopolies that serve designated geographic areas.

          Other Examples of Two-Part Tariff Pricing Strategy

          • Disneyland charges high entrance fees to its theme parks, but prices for individual rides are just sufficiently high to cover the marginal cost of operating the rides. A family that has traveled from Kansas to California or Florida Disney venues will likely not balk at paying high admission fees combined with low per-ride ticket prices.

          • Popular retailer Costco charges annual membership dues that allow customers to buy large product packages at relatively low unit prices. While Costco isn’t strictly considered a monopoly among warehouse stores, its unique membership and marketing methods effectively give it monopoly status with great cachet.

          • Country clubs typically charge high membership fees that offer members the right to buy greens fees and participate in social activities with other like-minded, equally affluent members.

          • Bars levy admission cover charges combined with fees per drink once patrons are inside.

          The strategy works when sellers can easily identify different buyer groups and prohibit individual buyers from selling to nonmember buyers.

          For example, country club members cannot resell greens fees or social activities to nonmembers. Disneyland visitors cannot resell ride tickets to those who have not paid the entrance fee. And electric utility ratepayers cannot resell to others who don’t have accounts with the utility.

          Income-Based Fixed Charges

          But what if utilities based their fixed fee on customers’ income levels rather than a flat uniform fee for every customer?

          California, home to 10 percent of the total US population and often considered a state laboratory where policies begin before adoption across the nation, offers a glimpse into the future of utility rate setting as the two-part tariff pricing model has now taken on a new wrinkle.

          In 2022 the supermajority Democrat state legislature passed and the governor signed Assembly Bill 205 (AB 205), which ordered the California Public Utilities Commission to authorize a “fixed charge” on residential electric bills by July 2024. Customers of the three large investor-owned utilities (IOUs)—Pacific Gas and Electric Company, Southern California Edison, and San Diego Gas and Electric—would pay this charge regardless of their electricity usage and in addition to that usage. The basis of the fixed charge is to be determined by each IOU utility, subject to approval by the California Public Utilities Commission.

          The legislation also required the utilities to reduce their rates for electricity usage in order to assist low-income customers as electricity prices continue to rise. This represents not only a major shift in the standard rate-setting model from usage orientation to fixed charges but also a new emphasis on income and wealth redistribution from high-income customers to low-income, somewhat akin to a progressive income tax.

          There is no precedent for such redistribution in utility rate regulation.

          AB 205 was intended to ensure that the IOUs’ new two-part pricing strategy be revenue-neutral – that is, continue to make sufficient revenue to invest in needed infrastructure for long-distance transmission (picture large pylons across the landscape) and distribution (local power lines delivering power to retail customers). The three IOUs own the vast majority of California’s energy infrastructure (poles and wires), construction and maintenance of which are so vital to greater electrification of homes and transportation as California focuses on transitioning from fossil fuels to renewable energy.

          A further intent of the legislation, moreover, was to raise additional revenue to pay for burying power lines that might otherwise ignite wildfires and constructing facilities to carry solar and wind-generated energy to large urban areas. Higher-income customers would pay a disproportionately high share of these construction and maintenance costs, even if they don’t use more power.

          It all sounded like a win-win for progressives:

          Rich people pay more for energy, poor people pay less, and everyone makes progress on global warming.

          Until, that is, questions arose on possible fallout from this new rate-setting model:

          How to determine ratepayers’ income levels without invading their privacy?

          How might higher income-based fixed charges, coupled with lower kilowatt-hours usage rates, reduce financial incentives to conserve energy usage?

          How might lower usage rates affect desirable future sales of rooftop solar installation?

          Because of these imponderables and because the California Public Utilities Commission has not approved any of several possible methodologies to implement AB 205, one legislator has now introduced Assembly Bill 1999 to repeal the fixed-charge mandate. Another legislator who voted for AB 205 now confesses that the legislation was long and confusing and was called up for a vote very shortly after its text was available to read.

          Blame is being passed around.

          Is the original AB 205 merely a profit-grab by the three large IOUs? Were legislators remiss in approving it too quickly in their zeal to mandate climate goals? Who originally decided to incorporate the income-based fixed charge into the legislation?

          Addressing these questions may be a challenge, something akin to solving an algebraic problem with more variables than equations, which leaves only an indeterminate solution. Too many conditions must be satisfied: revenue neutrality, protecting customer privacy when determining their income levels, energy usage rates low enough to protect low-income customers, usage rates high enough to encourage energy conservation and future installation of rooftop solar, sufficient revenue to invest in infrastructure for wildfire prevention, and additional grid capacity to support electric vehicle recharging stations and home heat pumps.

          It is possible to solve such problems using linear programming, maximizing a linear function subject to the various constraints. But it is unlikely that California Public Utilities Commission staff could grapple with such a solution in time to approve income-based electric utility two-part tariffs in time for July 2024 implementation.

          Whether this two-part tariff income-based pricing model might migrate to utilities in other states is unclear at this point, but its success or failure in California will probably determine its ultimate fate. In the meantime, perhaps the original legislation AB 205 is so poorly written that it should be repealed outright, consigning another well-intentioned governmental intervention effort to the proverbial dustbin of history.

          Tyler Durden
          Wed, 04/10/2024 – 22:20

        • 54% Of Americans Think Biden's Open Borders Aimed At Creating Permanent Democrat Majority: Rasmussen
          54% Of Americans Think Biden’s Open Borders Aimed At Creating Permanent Democrat Majority: Rasmussen

          A new poll from Rasmussen finds that 54% of likely voters believe Joe Biden to be “encouraging” illegal aliens to enter the United States in order to “create a permanent majority” for the Democrats, the National Pulse reports.

          According to the poll, 43% “strongly agree” that the border crisis is being facilitated for political advantage, while 14% “somewhat agree.” 29% “strongly disagree,” while 8% “somewhat disagree.”

          Hispanic voters, despite having leaned Democrat in every general and midterm election since 1980, are actually more likely to believe Biden is exploiting illegal immigration than any other ethnic group. Forty-eight percent strongly agree this is what the Democrat leader is doing, and 20 percent somewhat agree for a combined 68 percent. This compares to 17 percent who strongly disagree and seven percent who somewhat disagree.

          A combined 54 percent of white voters agree Biden is trying to create a permanent majority, and a plurality of 47 percent of black voters agree. –National Pulse

          Meanwhile 36% of self-identified moderates believe Biden is trying to create a permanent majority, as do 36% of Democrats.

          In February, Homeland Security Secretary Alejandro Mayorkas claimed that the Biden administration doesn’t bear responsibility for the border crisis, despite, among other things:

          • Terminating the National Emergency at the Southwest border
          • Revoking a Trump-era Executive Order that was designed to ensure there was meaningful enforcement of U.S. immigration laws.
          • Issuing an executive order protecting DACA recipients
          • Unveiling the U.S. Citizenship Act, which would provide amnesty to millions of illegal aliens in the U.S., demonstrating intent to reward illegal border crossers with a path to citizenship.
          • Announcing a 100-day moratorium on deportations and immigration enforcement, effectively providing amnesty to criminal and other removable aliens

           (It’s a really long list…)

          And since Biden was sworn in as president in January 2021, there have been at least 10 million illegals who have entered the United States, while the government deals with a backlog of more than 3 million asylum cases in US courts.

          We’re sure Congressional Republicans will have all sort of nice things to say about immigration when we get to the amnesty phase of the operation.

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          Tyler Durden
          Wed, 04/10/2024 – 22:00

        • It’s Time For A U.S. STEM Talent Strategy To Compete With China
          It’s Time For A U.S. STEM Talent Strategy To Compete With China

          Authored by Dan Reed & Dario Gil via RealClear Wire,

          U.S. innovation fuels our economic strength and is vital for our national security. Released last earlier this month, the National Science Board’s congressionally mandated State of U.S. Science and Engineering Indicators report shows that an accelerating science, technology, engineering, and math (STEM) talent crisis is imperiling America’s economy and security.

          Let’s start with a bit of perspective. The U.S. STEM workforce is now one quarter of the total U.S. workforce – 38 million people at all degree levels who use STEM skills in their jobs, including 19 million skilled technical workers without a bachelor’s degree. That number will only rise as companies expand their STEM workforce and their R&D investments in response to rising global competition. The CHIPS & Science Act is now funding one response to global competition and national security risk — the reshoring of our semiconductor production.

          Meanwhile, key technological sectors, including semiconductors, artificial intelligence, and cybersecurity, face major challenges in filling urgently needed job openings, and making the promise of economic development a reality. Let’s be clear –China is gaining on us, and it has articulated plans to increase its R&D investment even further. Indicators data show that China recently surpassed the United States in research publications and patent applications, and China’s growth in high impact articles is outpacing its overall growth in publications. These overall trends are also true for the specific field of artificial intelligence – a field that is critical to national security. We cannot risk falling behind.

          We must address this crisis now. How?

          First, we must increase the flow of domestic talent into the STEM workforce. To start, Congress must fully fund the remaining parts of CHIPS & Science Act – investing in developing the STEM workforce, from preK-12 education through skilled technical workers and college STEM graduates to doctoral-level researchers in industry and academia. Sadly, the spending bill that Congress just passed cuts some of our most important science federal agencies, like the National Science Foundation, moving us backwards.

          Second, we need new policies that double-down on one of our nation’s greatest strengths: attracting and retaining top STEM talent from around the world, including from countries that are emerging science partners. We must do more to entice and enable science and engineering students to work in the U.S. after they receive their degrees.

          Third, we need a modern-day National Defense Education Act (NDEA) to spur private and public collaboration and provide the specific skills and talent needed by American industry.

          An NDEA that would: invest in preK-12 STEM education and increase our STEM teacher supply across the country. Build capacity for the gateways into STEM training across the country: community colleges, technical schools, and other geographically and financially accessible institutions. Expand graduate fellowship programs, with a focus on critical and emerging technologies. Create national service programs like the Defense Civilian Training Corps and increase scholarships for low-income individuals. Increase options for foreign-born STEM talent to stay after their education and training and reduce barriers for doing so.

          This is a national call-for-action. We need all-hands on deck – no group alone can solve this problem. Business, government, and academia must come together in a collaborative partnership and commitment far beyond the scale in which we are investing now. Otherwise, we risk ceding U.S. science and engineering leadership to China, with deep and lasting negative effects on our national security and our economic competitiveness.

          Dr. Dan Reed is a former Microsoft Executive and currently serves as the chair of the National Science Board (NSB). Reed previously served as Provost at the University of Utah where he now is Presidential Professor of Computational Science and Professor of Computer Science and Electrical & Computer Engineering.

          Dr. Darío Gil is the IBM Senior Vice President and Director of Research and a member of the NSB.

          Tyler Durden
          Wed, 04/10/2024 – 21:40

        • Inflation Check: Doctors Making $350,000 Per Year Can't Find Homes In Long Island As Prices Surge 50%
          Inflation Check: Doctors Making $350,000 Per Year Can’t Find Homes In Long Island As Prices Surge 50%

          While every news anchor and talking head in the world of finance continues to congratulate the Fed despite inflation still not being under control, prices are telling another story. 

          Specifically, housing prices. In fact, a new report from Bloomberg is now detailing how even doctors making $350,000 per year are “struggling” to find places to live in locales like Long Island.

          The report cites the region’s “chronic housing shortage” and detailed the story of Paul Connor, who helps run Stony Brook’s Eastern Long Island Hospital. 

          “The single most difficult impediment to get around right now is the housing prices,” he said of the area. 

          Long Island’s North Fork, including Greenport, epitomizes New York’s severe housing crunch, with home prices surging by 50% to nearly $1 million, and available listings plummeting by 60% for its 50,000 residents, the report says.

          This crisis mirrors a broader state issue, characterized by a mismatch of job growth to housing availability, leading to historically low rental vacancies in New York City and skyrocketing rents – and spitting in the face of the narrative that inflation is cooling.  

          Upstate areas like Buffalo and Syracuse also face soaring property prices, compounded by restrictive zoning in the suburbs and mortgage rates nearing 7%, making homeownership increasingly unattainable. Suffolk County’s meager housing growth rate, one of the lowest in the state, further underscores the acute challenge of expanding the housing supply to meet demand.

          Rachel Fee, Executive Director of the New York Housing Conference added: “It’s a huge concern. It’s not just a New York City issue anymore. Affordability is an issue across the state.”

          “Part of the squeeze with the North Fork is the spillover effect from the Hamptons because prices have risen so rapidly that the North Fork became this cheaper alternative — until it wasn’t,” added Jonathan Miller, President of Miller Samuel.

          Connor concluded: “Whether you’re a cardiologist or you work in one of the local restaurants, it’s to the advantage of everyone in our community to have people who live and work locally.”

          Tyler Durden
          Wed, 04/10/2024 – 21:20

        • Sean 'Diddy' Combs Loses 18 Brand Partnerships Amid Sexual Assault Allegations
          Sean ‘Diddy’ Combs Loses 18 Brand Partnerships Amid Sexual Assault Allegations

          Authored by Jessamyn Dodd via The Epoch Times,

          Amidst a whirlwind of controversy swirling around Sean “Diddy” Combs, the mogul behind the Empower Global project, at least 18 brands have severed ties with his e-commerce platform. Empower Global, which champions black-owned businesses, has faced a significant setback with the departure of notable partners, including Tsuri, Nuudii System, No One Clothiers, Fulaba, and House of Takura., according to a report by Rolling Stone.

          Annette Njau, the force behind House of Takura, cited Cassie Ventura’s lawsuit against Sean Combs as the pivotal moment that guided their decision. Ms. Njau emphasized their stance, stating, “We take the allegations against Mr. Combs very seriously and find such behavior abhorrent and intolerable. We believe in victims’ rights, and support victims in speaking their truth, even against the most powerful of people.”

          In a statement regarding No One Clothiers’ decision to leave the platform, spokesperson Lenard Grier addressed the complexities involved in such a move: “While this decision was difficult due [to] the reverence we once held for Mr. Combs as a leader in business and entertainment, it was clearly the correct choice.”

          Ashli Goudelock, at the helm of skincare brand Tsuri, discussed their impending exit, underscoring an unyielding commitment to gender equality and dignity. Ms. Goudelock remarked: “As a company owned and led by women, we refuse to dwell in ambiguity regarding the mistreatment of our gender.”

          Rebecca Allen, founder of the eponymous shoe brand, said: “We enjoyed working with the team but have not seen meaningful sales, so we were already planning to terminate our relationship at the end of this year. These harrowing allegations have expedited our decision, and we ended our partnership with Empower Global earlier this month.”

          In a bid to salvage his reputation, Mr. Combs took to Instagram on Dec. 6 to assert his innocence and vow to defend his name against what he perceived as baseless attacks. Denying accusations of sexual assault, trafficking, and abuse leveled against him by Cassie Ventura, Mr. Combs declared his unwavering resolve to combat what he views as a concerted effort to besmirch his character and legacy.

          “For the last couple of weeks, I have sat silently and watched people try to assassinate my character, destroy my reputation and my legacy. Sickening allegations have been made against me by individuals looking for a quick payday. Let me be absolutely clear: I did not do any of the awful things being alleged. I will fight for my name, my family and for the truth.”

          Meantime, the company is facing a period of uncertainty as it addresses these challenges. The future of Empower Global remains unclear.

          In November, Mr. Combs temporarily stepped down as a co-chair of Revolt, a music-oriented digital cable television network that he co-founded. The company posted a statement on X reading, “While Mr. Combs previously has previously had no  operational or day-to-day role in the business, this decision helps to ensure that Revolt remains steadfastly focused on our mission to create meaningful content for the culture.”

          Police and media members gather outside the home of U.S. producer and musician Sean “Diddy” Combs in Los Angeles on March 25, 2024. Homes belonging to Sean “Diddy” Combs were being raided by federal agents, media reported on March 25, with the U.S. hip hop mogul at the center of sex trafficking and sex assault lawsuits. (David Swanson/AFP via Getty Images)

          This comes as Mr. Combs has been accused in four separate civil lawsuits of sexual abuse. Legal action began on Nov. 17, 2023, when Casandra Ventura, Mr. Combs’ former girlfriend, filed a lawsuit in the U.S. District Court for the Southern District of New York. The lawsuit alleged rape, sex trafficking, and physical abuse. The parties reached a settlement later that same day for an undisclosed amount.

          Two additional women filed lawsuits alleging sexual abuse against Mr. Combs in late November of that same year. The lawsuits coincided with the expiration of the Adult Survivors Act, a New York law that provided a one-year window for victims of sexual abuse to file civil claims regardless of when the alleged abuse occurred.

          Adding another layer to the legal saga, an unnamed woman lodged another lawsuit against Mr. Combs. This time, the allegations include rape and sex trafficking, with the plaintiff asserting that Mr.Combs and two accomplices gang-raped her when she was just 17 years old.

          In addition, Rodney “Lil Rod” Jones filed a lawsuit against Mr. Combs in February, alleging sexual abuse and harassment.

          In March, federal agents executed search warrants at the Miami and Los Angeles homes of the music mogul. These investigative actions are linked to a federal probe of allegations ranging from sex trafficking and sexual assault to the solicitation and illicit circulation of narcotics and firearms.

          Tyler Durden
          Wed, 04/10/2024 – 21:00

        • US Deficit Tops $1.1 Trillion For First Six Months Of Fiscal 2024 As Spending Hits 2024 High
          US Deficit Tops $1.1 Trillion For First Six Months Of Fiscal 2024 As Spending Hits 2024 High

          It’s oddly fitting that in a time when the interest on US debt just hit a record $1.1 trillion, that the US deficit for just the first six months of fiscal 2024 is also $1.1 trillion.

          According to the latest Treasury Monthly Statement, in March the US deficit hit $236 billion, some $40 billion more than the $196 billion expected, if below February’s $296 billion…

          … which was the result of $332 billion in govt tax receipts – translating into $4.580 trillion in LTM tax receipts, and which was down 5% compared to a year ago…

          … offset by the now traditional ridiculous monthly outlays, which in March amounted to $568 billion, up from $567 billion in February and the highest monthly spending total in calendar 2024, which translated into a 6 month moving spending average (for smoothing purposes) of $542 billion. Take a wild guess what will happen to the chart below during and after the next recession.

          This, incidentally, is a reminder that the US does not have a tax collection problem – it has a spending problem, and no amount of tax changes will fix it; in fact all higher taxes will do is force more billionaires to move to Dubai where they pay zero taxes.

          Putting the YTD deficit in context, in the first six months of fiscal 2024, the US deficit hit $1.065 trillion, just shy of the $1.1 trillion reached last year, which was the 2nd highest on record and only the post-covid 2021 was worse. Annualized, we expect total deficit to hit $2.2 trillion in fiscal 2024, a year when the US is supposedly “growing” at a nice, brisk ~2.5% pace. One can only imagine what the GDP growth would be if the US wasn’t set to have a wartime/crisis deficit…

          … and we can’t even imagine what US deficit will be after the next recession/depression.

          Meanwhile, as reported previously, total US interest continues to explode, and after surpassing total annual defense spending about a year ago, just the interest on US debt will soon become the single largest government outlay as it surpasses social security by the end of 2024, when according to BofA’s Michael Hartnett it hits $1.6 trillion…

          … and surpasses Social Security spending as the single largest spending category in the US government.

          Tyler Durden
          Wed, 04/10/2024 – 20:40

        • Democrats Commit Vastly More Dark Money Than Republicans For 2024
          Democrats Commit Vastly More Dark Money Than Republicans For 2024

          Authored by Austin Alonzo via The Epoch Times (emphasis ours),

          (Illustration by The Epoch Times, Shutterstock)

          Democratic dark money groups, megadonors, and unions are funding a massive spending effort aimed at reelecting President Joe Biden and advancing the Democratic Party’s power in Washington.

          So far, nine major outside spending groups say they will together spend nearly $800 million to support the reelection of President Biden. This is in addition to the massive financial resources the Biden campaign and the Democratic National Committee (DNC) will likely pour into the rematch of the 2020 election.

          The progressive organizations—American Bridge 21st Century, Campaign for a Family Friendly Economy, Climate Power, League of Conservation Voters, MoveOn, Republican Voters Against Trump, Service Employees International Union, Unite the Country, and VoteVets— have pledged to spend a total of $792 million on the 2024 election to boost President Biden and the Democratic Party.

          Former President Donald Trump, who is supported by the Republican National Committee (RNC) and its affiliates, is not seeing nearly as many commitments.

          Groups pledging to back President Trump’s campaign or to hinder President Biden add up to less than a quarter of the amount pledged by the Democrat money powerhouse.

          All told, about $160 million has been formally pledged to explicitly help President Trump’s campaign, and Republicans in general. One major group has said it will spend “eight figures” to go against President Biden.

          An Epoch Times analysis of the financial records of the various groups shows many are a combination of federally regulated political action committees (PACs) and 501(c)(4) or 501(c)(3) nonprofits.

          Under federal law, PACs must report regularly to the Federal Election Commission (FEC), disclose their donors, and declare their overall finances.

          The nonprofits, which are classified as charitable organizations and social welfare organizations by the IRS, report much less often and aren’t required to name their donors. For this reason, 501s are frequently called dark money groups.

          PACs that do share donor information are getting money from some of the most prolific donors and organizations in the United States.

          American Bridge

          American Bridge 21st Century, a group specializing in researching and publicizing negative information about opponents of the Democratic Party candidates, said it will spend $200 million on the 2024 election.

          When American Bridge made its announcement in January, it said $85 million was already raised and committed.

          (L–R) Former President Barack Obama, President Joe Biden, and former President Bill Clinton attend a campaign fundraising event at Radio City Music Hall in New York City on March 28, 2024. (Brendan Smialowski/AFP via Getty Images)

          American Bridge’s release said $140 million of its 2024 expenditure will go toward television, digital and streaming ads, radio, and direct mail placements in Michigan, Pennsylvania, and Wisconsin. It could extend its effort to North Carolina.

          “These ads will feature the true stories of women voters and their families living in these key swing states and will use their voices to expose the truth about Trump’s agenda,” the release said.

          American Bridge is registered with the FEC as AB PAC, a hybrid PAC. According to its latest financial statement filed with the FEC, it had about $5.9 million in cash on hand at the end of February.

          Between January 2023 and the end of February 2024, AB PAC received numerous donations of more than $1 million.

          The most prominent supporter was the super PAC, Democracy PAC, an entity largely financed by George Soros. Between January 2023 and February 2024, Democracy PAC gave about $4 million to AB PAC.

          According to data collected by the watchdog organization OpenSecrets, Mr. Soros was the biggest spender in the 2021 to 2022 election cycle, spending about $178.8 million. Mr. Soros, the founder of the Open Society Foundations, is a prolific donor to Democratic and progressive causes.

          In 2023, according to FEC records, Democracy PAC had only one donor: George Soros. In 2021 and 2022, according to FEC records, DemocracyPAC had two donors: Mr. Soros and the Fund For Policy Reform.

          Fund For Policy Reform sent DemocracyPAC $25 million. Alexander Soros, George Soros’s son and the chair of Open Society Foundations, is a director of the Fund, according to its tax documents.

          Additionally, Michael Moritz, a longtime partner at venture capital firm Sequoia Capital and now a senior advisor at Sequoia Heritage, gave AB PAC $2 million in June 2023, according to FEC records.

          (Left) Billionaire George Soros attends a discussion with Commerce Secretary Penny Pritzker and Tunisian President Beji Caid Essebsi and a group of American business leaders at the Blair House in Washington on May 20, 2015. (Right) Alexander Soros, founder of the Alexander Soros Foundation, speaks onstage during a climate event at the Ford Foundation in New York City on April 21, 2016. (Mark Wilson/Getty Images, Dave Kotinsky/Getty Images for Ford Foundation)

          According to donor records maintained by OpenSecrets, Mr. Mortiz has sent $8 million to AB PAC between 2019 and 2023.

          Two other Democratic Party megadonors are bankrolling American Bridge. FEC records indicate Reid Hoffman and Deborah Simon both sent $1 million or more to the hybrid PAC.

          Ms. Simon, an heir to the Simon family real estate fortune, sent $2.5 million in 2023. Mr. Hoffman, the founder of LinkedIn Corp., sent AB PAC $1 million in 2023.

          OpenSecrets ranked Mr. Hoffman and Ms. Simon among the top 25 largest spenders on the 2021–2022 election cycle. Together, they sent $35.7 million to liberal causes in that period.

          American Bridge is also tied to the 501(c)(4) nonprofit American Bridge 21st Century Foundation. According to its most recently filed tax returns, the Foundation had about $1.3 million in net assets at the end of 2022.

          Representatives of American Bridge didn’t respond to a request for comment from The Epoch Times.

          Service Employees International Union

          The Service Employees International Union (SEIU) represents 2 million workers in the United States and Canada, according to the union. Its membership is primarily employed in health care, public services, and property services.

          In a March 13 announcement, the union said it will spend $200 million—its most extensive campaign ever—to reach as many as 6 million voters in Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.

          “The union will engage multiracial working-class voters who are less likely to vote or have never voted at all through field programs, relational organizing, earned media, and paid media, partnering with community groups who are trusted messengers in their communities,” an SEIU release said.

          A woman casts her ballot in the state’s primary election in Green Bay, Wis., on April 2, 2024. (Thos Robinson/Getty Images for The Democratic National Committee, Scott Olson/Getty Images)

          The SEIU operates a labor organization political action committee—Service Employees International Union Committee on Political Education (SEIU COPE)—and is linked to the super PAC United We Can.

          According to Federal Election Commission records, both of the groups are financed by SEIU members and the SEIU’s local unions.

          The two funds, led by SEIU COPE, collectively retained about $35.3 million in cash on hand at the end of February, according to their latest FEC disclosures.

          In the 2020 election cycle, covering 2019 and 2020, together, the funds raised about $78.5 million. Those funds, according to the FEC, spent about $7.7 million to support President Biden.

          Representatives of the SEIU didn’t respond to a request for comment from The Epoch Times.

          League of Conservation Voters

          On March 19, the League of Conservation Voters (LCV), an environmental group that typically promotes liberal candidates for federal office, announced its plans to spend $120 million on reelecting President Biden.

          LCV is a complex organization composed of nonprofits and FEC-registered PACs. Its two federal PACs—LCV Victory Fund and LCV Voters Action Fund—had about $14.7 million on hand at the end of February, according to the groups’ FEC filings.

          LCV also includes the League of Conservation Voters Education Fund, a 501(c)(3) nonprofit, and the League of Conservation Voters Inc., a 501(c)(4) nonprofit.

          According to the FEC, most of the money raised by the PACs between January 2023 and February 2024 came from the League of Conservation Voters Inc. It sent LCV Victory Fund about $12.7 million during that period.

          LCV has received funding from multiple organizations tied to Arabella Advisors. In 2020, the Sixteen Thirty Fund, one of the most politically active accounts, sent LCV about $3.5 million, according to its IRS records.

          Representatives of LCV didn’t respond to a request for comment from The Epoch Times.

          Read more here…

          Tyler Durden
          Wed, 04/10/2024 – 20:20

        • Radical Left Group Demands Baltimore's Francis Scott Key Bridge To Be Renamed Over Racism Claims 
          Radical Left Group Demands Baltimore’s Francis Scott Key Bridge To Be Renamed Over Racism Claims 

          Far-left group Caucus of African American Leaders of Anne Arundel County (CAAL), which has been on a multi-year rampage across Maryland, removing controversial statues (read: here) and pushing reparations resolutions (read: here) in Annapolis, has called on state officials to rename the recently collapsed 1.6-mile Port of Baltimore bridge because the current name “Francis Scott Key Bridge” is racist. 

          The new bridge hasn’t even been built yet and might not even get built for years. Still, CAAL is already arguing that Francis Scott Key, the man behind the lyrics to ‘The Star-Spangled Banner,’ “demeaned black people” with the song’s lyrics and that he enslaved people, according to local newspaper The Baltimore Banner. 

          CAAL called on progressive Gov. Wes Moore and the Maryland General Assembly to rename the bridge after late Rep. Parren J. Mitchell. She was the first African American from Maryland elected to the US House of Representatives. 

          On Monday, reporters asked Gov. Moore about the potential name change of the Key Bridge. He said that’s not even a topic yet, as salvage crews are still trying to reopen the commercial shipping channel. 

          “I think any other conversations along those lines, there will be time for that but now’s not the time,” he told reporters.

          In a lengthy Facebook rant, CAAL claimed that “taxpayer’s dollars were being used to honor racism” and noted that it expected “backlash whenever there is an effort to bring about change in America.” They said that backlash “will see an immediate response from right-wingers.” 

          CAAL’s website says it “fights for the human rights of African-Americans and to create a just society” and is “driven by progressive ideas and bold actions.” However, where are those bold actions while Baltimore City implodes into crime chaos? The leftist organization has been around since 2011, and since then, those bold actions to help blacks has yet to materialize in Baltimore. 

          Some questions we have: 

          Why isn’t CAAL taking bold actions to address rampant black-on-black gang crime in the metro area or address the education scandal in Baltimore City Public Schools that robs black children of their future? What about soaring violent crime, unleashed by failed social justice reforms, has transformed part of the metro area into a warzone? What about defunding the police measures that have collapsed the police force? Or tens of thousands of vacant row homes and a collapsed inner city economy that provides limited opportunity to young black males (some of whom have chosen a life of crime instead). 

          Perhaps the challenges facing Baltimore are to big for the leftist group to tackle. It appears, instead, they focus their agenda on rewriting history… 

          “Why do you always trying to make our history racist ? Good or bad , our history is what made us a great nation. Changing names of bridges, schools, removing statues,etc just promote racism,” one Facebook user wrote on CAAL’s post. 

          The American Historical Association explains why Americans should know their history:

          “Laymen and educators are generally agreed that knowledge of our own history is essential in the making of Americans. The reasons for this belief may be summed up under four main heads. History makes loyal citizens because memories of common experiences and common aspirations are essential ingredients in patriotism. History makes intelligent voters because sound decisions about present problems must be based on knowledge of the past. History makes good neighbors because it teaches tolerance of individual differences and appreciation of varied abilities and interests. History makes stable, well-rounded individuals because it gives them a start toward understanding the pattern of society and toward enjoying the artistic and intellectual productions of the past. It gives long views, a perspective, a measure of what is permanent in a nation’s life. To a people it is what memory is to the individual; and memory, express or unconscious, guides the acts of every sentient being.” 

          Marylanders should demand that CAAL do more in Baltimore City before tearing down any more statues, pushing reparation bills, or trying to rename non-existent bridges.

          Tyler Durden
          Wed, 04/10/2024 – 20:00

        • How Trump Could Beat The Deep State
          How Trump Could Beat The Deep State

          Authored by James Rickards via DailyReckoning.com,

          Let’s say that Trump wins the November election. What would a second Trump presidency actually look like?

          Today we’re going to investigate that question. Let’s first back up to the 2016 election.

          Trump ran the most incompetent presidential transition process in my lifetime and perhaps the worst in history. The problems began with the fact that none of Trump, his family members and inner circle actually thought he would win the 2016 election with the exception of campaign manager Steve Bannon.

          I predicted Trump would win but I was almost alone in that regard.

          Trump picked Chris Christie as his transition manager, seemingly oblivious to the fact that as a prosecutor, Christie had put Jared Kushner’s father in jail. Given Kushner’s role as Trump’s son-in-law and close adviser, this was a recipe for failure.

          A well-run transition doesn’t start the day after the election. It begins a year or more advance with a list of loyal appointees ready to go. Trump had no preparation and no team. Christie was fired as transition manager and Mike Pence took over, but the entire process was bungled.

          The other problem was that Trump applied the New York real estate developer mentality to his administration. He never worried much about his appointees because if they failed, he could always yell, “You’re fired!”

          That may work in New York, but it doesn’t work in Washington. Appointees are protected by politicians, lobbyists and the media. If you fire someone, you can expect a barrage of leaks, policy paralysis and opposition to any new appointee.

          Even if a bad choice is fired, the lower levels of the deep state take over and run rings around you while waiting for a replacement who will take months to get a handle on the job in a best case.

          Trump never understood any of this.

          Trump also trusted the wrong people. He installed James Mattis as secretary of defense, Rex Tillerson as secretary of state, H.R. McMaster as national security adviser and John Kelly as chief of staff. They were all RINOs from the Bush wing of the party.

          They were brought in as “adult supervision” of the supposedly reckless Trump, but they all stabbed Trump in the back. Meanwhile, loyal supporters like Steve Bannon and K.T. McFarland were shoved aside.

          Trump didn’t learn. He did fire James Comey as head of the FBI (three months too late) but then appointed Christopher Wray as the new FBI director. Wray now works for Biden and puts Trump supporters in jail. But Trump was the one who appointed him.

          Trump should have fired the lying Anthony Fauci after one meeting. Instead, he gave Fauci the keys to the U.S. economy. Fauci then implemented lockdowns, school closings, vaccine mandates, masking and social distancing in ways that ruined the U.S. economy and gave Trump’s enemies an excuse to change election laws to favor mail-in ballots, which permits more widespread cheating.

          The list goes on. The bottom line is no one was worse at transition planning, appointments, endorsements and tolerance of gross incompetence than Trump. He was his own worst enemy and seemed incapable of learning the ropes in how to deal with Washington bureaucracy and the deep state.

          This leaves one overriding question. Has Trump learned anything since leaving office in 2021? Will he have a successful transition this time or simply repeat the blunders of 2017–2021?

          Read on to see how Trump could pull it off…

          How to Take on the Deep State

          Has Trump learned anything since leaving office in 2021? Will he have a successful transition this time or simply repeat the blunders of 2017–2021? To answer those questions, we turn to two books that hold the key to possible success in a new Trump administration. The first is called The Plum Book. The second is called Mandate for Leadership 2025.

          “Plum Book” is a nickname for a publication from the Government Printing Office based on the fact that it has a plum-colored cover. The official title is United States Government Policy and Supporting Positions.

          It’s a 232-page directory of about 8,000 jobs in the U.S. government with an emphasis on the executive branch (controlled by the president) and independent agencies such as the Federal Communications Commission (FCC), the National Endowment for the Arts (NEA) and the Securities and Exchange Commission (SEC). It’s literally page after page of job listings by title, department and pay grade.

          What makes the Plum Book special (and indispensable to a presidential transition team) is that the jobs listed in the book are those that are open to political appointment and not subject to a competitive process.

          These are the jobs where the president can just pick the person he wants and install that person in a key policy position without going through normal civil service channels. Some of the positions may be subject to Senate confirmation, but that usually poses no difficulty, especially if the new president’s party also controls the Senate.

          The Plum Book is like a secret guide to understanding the deep state and putting your own people in place to control it.

          Even the most obscure federal agencies have top positions to be filled. They all have a director, one or more deputies, board members, executive assistants, etc. That’s how deep the deep state really is. When Biden calls for an “all of government” approach to climate change or DEI, the Plum Book tells us that means 8,000 hands on deck.

          The executive office of the president involves a lot more than 10 or so close assistants in the West Wing such as counsel to the president, chief of staff and a few special assistants. The Plum Book lists 83 separate jobs (not including clerks, interns and executive assistants).

          These jobs support the president only and do not come close to covering the entire executive branch. Among these positions are “special assistant to the president and assistant communications director for strategic messaging,” and “special assistant to the president and deputy director of White House information technology.” As you can see, even the assistants and deputies have assistants and deputies.

          So if Trump wins the election, the Plum Book will be an important tool to put the right people in place..

          Still, the Plum Book is only the beginning of a successful transition. It tells us what positions need to be filled but does not offer a guide to policy. The selection of individuals for appointments needs to be guided by a set of policies that can act as a filter for choosing the right individuals.

          Who is doing the hard work of outlining policy initiatives for hundreds of agencies, commissions and offices that comprise the executive branch and ultimately the deep state? It’s fine to win an election and use the Plum Book to fill key positions with competent loyalists, but what policies will they actually implement?

          Fortunately for Trump, the Heritage Foundation has done this work. The Heritage Foundation is just one of hundreds of think tanks and policy centers in Washington, D.C. But in 2024 they’ve taken the lead in collecting and publishing policy papers on hundreds of key issues.

          Their work is called Mandate for Leadership 2025. I call it the Trump playbook. It’s available online at the Heritage Foundation website. It’s 887-pages long and every page is filled with technical discussion.

          The content is conservative but not ideological. There is a fair balance and even competing perspectives. In the section on trade, there is “The Case for Fair Trade” by Peter Navarro and “The Case for Free Trade” by Kent Lassman. It’s likely that the best policy includes some content from both perspectives depending on the specific trading partner, reciprocity and the impact on U.S. jobs.

          The Heritage Foundation playbook Mandate for Leadership, combined with the Plum Book and Trump’s apparent willingness to learn from his past mistakes when it comes to appointments completes the Trifecta needed for success in a second Trump administration to destroy the deep state. Investors should hope that Trump stays on that path and listens to the hundreds of experts and institutions that are working hard to make that success a reality.

          The difference for investors between another Biden administration and the return of Trump to the White House could not be more stark. The Biden administration has been characterized by excessive regulation, pointless mandates as part of the Green New Scam, open borders bringing crime, drugs and cartel influence into the United States, disastrous wars in Ukraine, Gaza and now the closing of the Red Sea-Suez Canal passage, increased segregation of Blacks in colleges, the destruction of 50 years of progress in women’s sports by allowing competition by men and a long list of other ruinous policies.

          The first Trump administration was characterized by business and personal tax cuts, reduced regulation, no new wars, outreach to nuclear rivals such as Russia and North Korea, tariffs on unfair trade by China, a concerted effort to bring manufacturing jobs back to the United States, demands that NATO members pay their fair share for mutual defense and a secure southern border with Mexico.

          Trump also made an historic three appointments to the Supreme Court, which has emerged as practically the last bastion of constitutional order and the rule of law. There’s no reason to expect any improvement in another Biden administration. In fact, policies will almost certainly grow worse as Biden fails physically and mentally and opens the door to a possible acting president in the form of Kamala Harris, a known dunce.

          There’s good reason to believe that a second Trump administration will offer the growth-oriented policies of the first administration with a much more effective decision-making apparatus resulting from attention to the Plum Book, the playbook and the transition process.

          A better transition process in a second term means the biggest threat to the deep state in decades.

          And a new team will put us on the road back to sanity. But powerful people won’t go quietly. A more experienced Trump will conduct a second war to destroy them. Unless they destroy him first.

          Tyler Durden
          Wed, 04/10/2024 – 19:40

        • US 'Considering' Dropping Prosecution Of Assange, Biden Says
          US ‘Considering’ Dropping Prosecution Of Assange, Biden Says

          Wednesday saw a rare and unexpected positive development in the Julian Assange extradition case. President Joe Biden has affirmed the US is “considering” dropping its prosecution of the WikiLeaks founder. 

          Currently, Assange is awaiting a final ruling from the UK high court over his possible extradition to the US, coming at the end of a lengthy appeals process. But the following exchange with President Biden and reporters just happened: 

          When asked about the request by reporters at the White House on Wednesday, President Joe Biden said “we’re considering it” – comments described as “encouraging” by Mr Assange’s lawyer.

          Image: Creative Commons

          Biden issued the response in a press briefing while hosting Japanese Prime Minister Fumio Kishida for an official White House visit, where the two leaders are expended to deepen defense ties.

          It is widely perceived this was all set in motion when in February Assange’s native Australia saw its parliament vote to issue formal request that charges against Julian Assange be dropped by the US. The motion adopted by parliament emphasized “the importance of the UK and USA bringing the matter to a close so that Mr. Assange can return home to his family in Australia.”

          The country’s prime minister Anthony Albanese immediately backed the motion calling for his return to Australia.

          Amnesty International also recently renewed its call to drop the charges against Assange. “The risk to publishers and investigative journalists around the world hangs in the balance. Should Julian Assange be sent to the U.S. and prosecuted there, global media freedoms will be on trial, too,” a statement said.

          We detailed in March that the Biden administration might be looking for a way to bring the 14-year long legal drama to an end. A WSJ report at the time said, “The U.S. Justice Department is considering whether to allow Julian Assange to plead guilty to a reduced charge of mishandling classified information, according to people familiar with the matter, opening the possibility of a deal that would end a lengthy legal saga triggered by one of the biggest classified intelligence leaks in American history.”

          A plea deal means the whole crisis for him and his family could finally come to an acceptable and peaceful end after all of these years. But Assange’s legal team never gave any level of confirmation to the prior WSJ reporting.

          https://platform.twitter.com/widgets.js

          However, this fresh Biden statement seems to confirm the reporting that a plea deal could be on the table.

          A May 20 hearing which has been scheduled by the UK High Court and is expected to take up whether the US ‘assurances’ that Assange would not face either the death penalty or torture if transferred to US custody are satisfactory. His lawyers have long argued that confinement in a US federal ‘Supermax’ facility would indeed be torturous and would also severely degrade his mental health.

          Tyler Durden
          Wed, 04/10/2024 – 19:20

        • Popular Paper On Ivermectin And COVID-19 Contains False Information
          Popular Paper On Ivermectin And COVID-19 Contains False Information

          Authored by Zachary Stieber via The Epoch Times (emphasis ours),

          A popular study that claims ivermectin has shown no effectiveness against all-cause mortality contains false information but remains uncorrected.

          The meta-analysis, published in 2021 by the journal Clinical Infectious Diseases, explores how groups in randomized, controlled trials fared after receiving ivermectin compared to control groups.

          Among five trials included for the portion on all-cause mortality, none showed an effect for ivermectin, the authors claimed.

          Ivermectin “did not reduce all-cause mortality,” they wrote.

          But the claim is wrong. One of the five trials was described as finding ivermectin recipients were more likely to die, but actually found that ivermectin recipients were less likely to die. “The risk base estimation … confirmed that the average mortality obtained in all of ivermectin treated arms was 3.3%, while it was about 18.3% in standard care and placebo arms,” the authors of that paper said.

          Dr. Adrian Hernandez, an associate professor at the University of Connecticut’s School of Pharmacy, and other authors of the meta-analysis are aware of the false information. The group released their study as a preprint before the journal published it. The first version included the false information. A corrected version properly portrayed the trial’s results for all-cause mortality in a figure summarizing the results, but still falsely said none of the trials showed a benefit against all-cause mortality.

          Dr. Hernandez and Clinical Infectious Diseases did not respond to requests for comment.

          The lingering false information is in a paper that has attracted numerous citations in other studies, in the press, and on social media. Altmetric, which tracks engagement, scores it at 5,900. A score of 20 or means a paper is doing “far better than most of its contemporaries,” according to the company.

          Morimasa Yagisawa of Kitasato University and other researchers pointed out the issue in a March review of ivermectin trials, saying they were “concerned about the spread of misinformation and/or disinformation” about trial results.

          “The articles on systematic reviews and meta-analyses are often erroneous or misleading. This is perhaps because the authors were not involved in the clinical trials or patient care and only searched for and analyzed articles and databases on clinical trial results,” they wrote. The problems are “particularly serious” in the paper for which Dr. Hernandez was the corresponding author, the researchers said.

          “Although it was a clear error, the wrong content of the preprint was published as a major article in Clinical Infectious Diseases, the official journal of the Infectious Diseases Society of America, without being changed,” they wrote. “Many comments were made questioning the insight of the reviewers and the Editor-in-Chief for publishing a paper with such inconsistencies, but the paper is still published without correction. Since this is a prestigious journal of a prestigious society, an early corrective action is required.”

          “There have been several fraudulent meta-analyses, and this is a striking one,” Dr. Pierre Kory, president and chief officer of the FLCCC Alliance and author of the book The War on Ivermectin, told The Epoch Times in an email.

          “In this meta-analysis, they selected only 10 of the 81 controlled trials, 33 of which were randomized, on ivermectin that were available at the time. Eight of the ten they selected involved mild COVID-19. Typically, mild COVID does not lead to death. And here they were looking at death rates and, as expected, saw very few. The inclusion criteria they used were intended to show no effect. And they succeeded. Conflicted researchers have been doing this to hydroxychloroquine and ivermectin since the beginning of the pandemic,” he added.

          Issues in other meta-analyses include the improper inclusion of papers that did not describe clinical trial results, Mr. Yagisawa and his co-authors said.

          They noted that a number of trials have found ivermectin recipients were better off. That includes trials cited by the U.S. Food and Drug Administration (FDA) in its position that ivermectin is not effective against COVID-19.

          The FDA recently settled a lawsuit over that position, agreeing to take down several web pages and social media posts.

          Tyler Durden
          Wed, 04/10/2024 – 19:00

        • Bridge Collapse: Moody's Cuts Maryland Transportation Authority's Debt Outlook To Negative
          Bridge Collapse: Moody’s Cuts Maryland Transportation Authority’s Debt Outlook To Negative

          The fallout from the Port of Baltimore bridge collapse has sparked supply chain snarls and economic pains in the Maryland area, forcing Moody’s Ratings to downgrade the outlook of the Maryland Transportation Authority’s debt from “stable” to “negative” because of mounting “uncertainties around the Francis Scott Key Bridge’s replacement project’s costs, including their funding and timing.” 

          “Any negative impact from the replacement project would be on top of financial metrics that were expected to narrow from capital investments prior to the loss of the bridge,” Cintia Nazima, a Moody’s analyst, noted in a report initially mentioned by Bloomberg.

          Moody’s maintained the Aa2 rating for the MTA’s revenue bonds, linked to about $2.2 billion in outstanding debt. Nazima explained that this rating “reflects the essentiality of the authority’s road network, the fundamental strength of the service area, and its history of strong financial and operational management and performance.” 

          The analyst said the 1.6-mile (2.6-kilometer) Key Bridge comprised about 7% of MTA’s total revenue in 2023. They expect traffic to be rerouted on adjacent highways and tunnels, adding the MTA will likely recapture most of the lost toll revenue. 

          The bridge was the primary land feeder into the Port of Baltimore. It connected the port to the I-95 highway network in the Mid-Alantic.

          Source: Bloomberg 

          For more than two weeks (since March 26), container ships, vehicle transport ships, bulk carriers, and other large commercial vessels have been diverted to other East Coast ports. Last week, the US Army Corps of Engineers provided a timeline for reopening the port, potentially at the end of May. However, there is no timeline on when the bridge will be rebuilt, with some figures in the 3-5 years range.

          In a separate note last week, Moody’s warned the bridge collapse “has the potential to hurt the transportation and warehousing sector” in the Baltimore region. 

          How does the MTA recapture the lost toll revenue? Well, higher toll fees, of course. 

          Tyler Durden
          Wed, 04/10/2024 – 18:40

        • Biggest Corporate Welfare Scam Of All Time
          Biggest Corporate Welfare Scam Of All Time

          Authored by Stephen Moore via The Epoch Times,

          President Joe Biden keeps lecturing corporate America to “pay your fair share” of taxes.

          It turns out he’s right that some companies really are getting away scot-free from paying taxes.

          But it isn’t Big Tech companies in Silicon Valley or the Wall Street financial company “fat cats” or big banks or Walmart.

          They pay billions in taxes.

          The culprits here are the very companies that President Biden is in bed with: green energy firms.

          It turns out that despite all the promises over the past decade about how renewable energy is the future of power production in America, by far the biggest tax dodgers in the country are the wind and solar power industries.

          Over the past several decades, the green energy lobby—what I call the climate-change-industrial complex—isn’t paying its fair share. That’s because the vast majority of these companies pay nearly ZERO income taxes.

          But they wade in rivers of federal direct and indirect subsidies that keep these zombie companies alive. Over the past two decades, the renewable energy lobby has collected more than one-quarter trillion dollars in subsidies—payments that we’ve been assured over and over would be temporary. The argument for these grants, loans, tax abatements and other sweetheart kisses is that these were “infant industries” in need of a Head Start program for CEOs.

          Except these companies have never even reached puberty after all these years.

          What’s worse is that President Biden keeps spoiling the children with lavish gifts for bad performance.

          A new report by tax expert Adam Michel at the Cato Institute finds the green energy subsidies—mostly created by Biden policies like the so-called Inflation Reduction Act—will drain the Treasury of as much as $1.8 trillion over 10 years.

          The Cato report finds that since its passage, “the estimated cost of the IRA’s new and expanded energy tax credits increased dramatically.”

          These tax shelters are just a form of Aid to Dependent Corporations. They never seem to want to cut the umbilical cord.

          What have we gotten for this mountain of taxpayer-funded green energy largesse?

          Nothing, really.

          Today, we still get 80 percent of our energy in America from fossil fuels and nuclear power. Wind and solar are stuck at less than 10 percent. This is some investment we’re making.

          Meanwhile, President Biden keeps railing against companies that pay no income tax. He’s advocated a mandatory 15 percent minimum corporate tax. But guess what industry is explicitly exempt from the minimum? The green energy lobby.

          It’s just a reminder that a lot of people are getting really, really rich off climate change hysteria.

          The “green” in green energy doesn’t stand for a cleaner environment.

          It stands for the color of money. Yours and mine.

          Tyler Durden
          Wed, 04/10/2024 – 18:20

        • "Obviously, This Is Very Bad News For Biden": Wall Street Reacts To Today's Red Hot Inflation Print
          “Obviously, This Is Very Bad News For Biden”: Wall Street Reacts To Today’s Red Hot Inflation Print

          Coming into today’s CPI number, which followed three previous red-hot inflation prints, we said that it’s time for a “miss” (the first of 2024) not because the data demands it – on the contrary, prices continue to rise at a frightening pace – but because a dovish CPI print today would be the last opportunity for the Fed to set a timetable for a rate cut calendar ahead of November’s election.

          Well, you can wave goodbye to all that, because we just got the 4th consecutive “inflation beat” in a row…

          … with supercore inflation coming in blazing hot…

          … thanks to a boiling inflation print which saw every single CPI metric coming in hotter than expected – was a shock, not because it reflected reality, but because it effectively sealed Biden’s fate because as Bloomberg’s Chris Antsey writes, “obviously, this is very bad news for Joe Biden… we’re approaching the point where high inflation is bound to still be in voters’ minds when they head to the polls, regardless of how the price figures come in over summer.”

          With that in mind, here is a snapshot of kneejerk reactions by various other Wall Street economists and strategists to today’s print courtesy of Bloomberg.

          Morgan Stanley economist Ellen Zentner is the first sellside to warn her June rate-cut call is in jeopardy:

          “The upside surprise in core CPI is moving the inflation data further away from the convincing evidence the Fed needs to start cutting in June. Dependent on the PPI data tomorrow, this print tilts the Fed toward a later start to the cutting cycle than our current forecast for June.”

          Brian Coulton, chief economist at Fitch:

          “The so-called ‘Super-core’ CPI  measure – services excluding rents – jumped from 3.9% y/y in February to 4.8% in March. This latter metric is heading the wrong way and quite quickly at that.”

          David Kelly, Chief Global Strategist at JPMorgan asset management:

          “I wish the Federal Reserve would pay more attention to what they do to financial markets with their manipulation of interest rates and not worry too much about what they are doing to the economy. Last decade, we mispriced housing terribly and now a large chunk of younger Americans can’t buy a house.”

          Anna Wong, Bloomberg economist:

          “March is a month where the CPI enters a seasonal window that’s favorable for disinflation. The fact that core CPI remained the same in March as February — even if it maps to about 0.3% in core PCE inflation terms – is not a good development. This report, more than February’s, is likely to feed Fed concern that progress on disinflation is stalling — even though the core print for the two months was the same.”

          Marvin Loh, State Street economist:

          “While the rent component shows a strong disinflationary trend, the more important owner’s occupied component is stubbornly unchanged and well above what is needed to get towards a stable 2% level.”

          Ira Jersey, Bloomberg rates strategist:

          “The 3-month annualized core CPI climbing to 4.5% is going to keep early Fed-cut calls muted coming up. 50 bps of cuts in 2024 currently being priced may not occur until later in the year. The yield curve flattening isn’t surprising as we continue to price out early and deep cuts.”

          * * *
          “The timing of 2024 rate-cut expectations are front of mind for market participants, with linear markets pricing just below even odds of a first cut in July. Still, the stickiness of ‘supercore’ inflation, now north of 8% on a 3-month annualized basis, may continue to put upward pressure on expectations of the Fed’s terminal floor.”

          * * *

          “A retest of 4.51% is nearly assured with the higher-than-expected CPI. If that doesn’t hold, 4.7% is the next stopping spot for the 10-year yield.”

          Seema Shah, economist at Principal Asset Management:

          “Today’s print sealed the fate for the June FOMC meeting with a hike now very unlikely. In fact, even if inflation were to cool next month to a more comfortable reading, there is likely sufficient caution within the Fed now to mean that a July cut may also be a stretch, by which point the US election will begin to heavily intrude with Fed decision making.”

          Priya Misra, JPM rates strategist:

          ”This was a pivotal report for the market since the last 2 reports were a little high (0.4% mom) and the Fed viewed those readings as a ‘bump in the road’ rather than a change in the trend towards inflation moderation.Rates have risen in the last few weeks as cuts have been priced out but there is more room to go. I also think risk assets will be sensitive to rates if the 10y moves above 4.5%. So far risk assets could ignore the high inflation prints since the Fed was dismissing it. But I think that changes now… Most of the strength in the core explained by firmer motor vehicle insurance costs and medical care — both of these do not feed into the core PCE deflator in the same way. So incoming Fedspeak will be very important”

          Lindsay Rosner, head of multi-sector fixed income investing at Goldman Asset Management:

          “To be clear, this number did not eclipse the Fed’s confidence; it did, however, cast a shadow on it. When it comes to spread risk, one hotter CPI print does not derail the bigger story which is the economy is strong, defaults remain benign, and the technicals continue to cast sunshine on spreads maintaining this range.”

          Erik Norland, chief economist at the CME Group:

          “Given the recent trend in fuel prices, there’s a risk that headline inflation readings on a year-on-year basis surpass 4%. The narrative up to now has been danger of sticky 3% but few are talking about a reacceleration to the 4s.

          Florian Ielpo at Lombard Odier Asset Management:

          “If the Fed remains committed to its ‘one cut in June’ stance, real interest rates could remain stable while inflation compensation may increase. This would be supportive for equities, as real financing conditions would not tighten further, and profit margins could benefit from higher-than-expected inflation.”

          Torsten Slok of Apollo Global

          “Easy financial conditions continue to provide a significant tailwind to growth and inflation. As a result, the Fed is not done fighting inflation and rates will stay higher for longer.”

          It’s about to get even worse: recall today we have a $39 billion 10-year auction which is already being dubbed “sloppy” and a definitive break of 4.5% could easily extend if underwriting dealers are left holding the bag. As it stands, the 10yr has popped above the 4.5% parapet. Ian Lyngen at BMO Capital Markets says:

          “We expect the setup to the auction will break 4.50% in 10-year yields with ease.”  

          And George Goncalves, head of US macro strategy at MUFG, adds:

          “Price action tells you two things – positioning wasn’t as concentrated or in line with the mini rally we had heading into the number over the last 24hrs and at same time very little in auction setup either.. . Bottomline if no dip buyers show up this morning, and we keep drifting, the risk is a 4.5% this afternoon.”

          * * *

          The bottom line, as Bloomberg’s Sebatian Boyd writes is the following:

          “today’s CPI print adds to the evidence that US monetary policy just isn’t as restrictive as the Federal Reserve thinks it is, and that interest rates will therefore need to stay higher for longer. There are lots of reasons that might be: The great resignation during the pandemic may well have heightened productivity in the US economy as people found new jobs where they’re a better fit. Higher government spending would also push up the neutral rate of interest. But every time we get a hot indicator, the case builds that it has happened and that conventional measures of neutral interest rates are too low. If that is the case, the upshot is higher yields and a flatter curve, because not only would the Fed be able to cut by less than expected in the short term, but yields will need to be higher in the long term too.”

          Finally, we conclude where we started, and echoing what we said in our CPI preview, namely that the BLS had Biden’s fate in its hands, it appears the bureaucrats just voted for Trump. Here is BBG’s Chris Antsey:

          Obviously, this is very bad news for Joe Biden. It’s still only April, and we’ll have another half-a-year’s worth of inflation reports before the election. But we’re approaching the point where high inflation is bound to still be in voters’ minds when they head to the polls, regardless of how the price figures come in over summer.

          To underscore how calamitous today’s data is for Biden, here also is BBG’s Enda Curran:

          Let’s be clear — today’s data has both economic and political implications. The economics are straight forward: It looks unlikely that the Fed will be cutting rates near term (barring a shock). The political implications are less clear but no less meaningful: Poll after poll has found that voters are grumpy on the economy and news that it could be a while yet before the inflation story is over won’t brighten their mood.

          And with Biden’s goose now thoroughly cooked, the next question is how long before somebody raises the possibility of a rate hike.

          Tyler Durden
          Wed, 04/10/2024 – 18:15

        Digest powered by RSS Digest

        Apr 10

        Today’s News 10th April 2024

        • Migrant Crime Explodes Higher In Germany In 2023, Violent Crime Hits Record Levels
          Migrant Crime Explodes Higher In Germany In 2023, Violent Crime Hits Record Levels

          Authored by John Cody via ReMix News,

          The number of foreign suspects soared to around 923,000 last year, representing a massive 18 percent increase in just one year nationwide, according to crime statistics from the German Interior Ministry released on Tuesday.

          However, the even more shocking number may have to do with violent crimes, which soared to record levels in 2023.

          The data from the interior ministry shows that 41 percent of all crime suspects are foreigners, with 2.246 million people in the country suspected of a crime in 2023, which is 7.3 percent more than in 2022, reports Die Welt,

          Overall, foreigners only represent 15 percent of the population.

          ‘Completely lost contact with the population’

          The shocking numbers have hit Germany like a thunderclap and could have a number of political implications.

          The head of the German Police Union, Rainer Wendt, slammed Federal Interior Minister Nancy Faeser (SPD) after the drastic rise in foreign crime was revealed.

          “The Federal Minister of the Interior is becoming more and more like ‘Nancy in Wonderland’ when she is astonished to discover that Germany has become more violent,” Wendt told Bild.

          He argued that one would only be surprised with this outcome “if one has completely lost contact with the population.”

          Faeser, for her part, has labeled “right-wing extremism” the biggest threat to the country, all while allowing violent crime and rape to explode under her tenure, especially from foreign criminals.

          The government is now racing to naturalize millions of foreigners in order to ensure that they are not counted under “foreign” crime but are instead counted as “Germans,” as German crime statistics list anyone who commits a crime as “German” regardless of their migration background as long as they have a German passport.

          Record cases of violent crimes

          Critics like to claim that much of the “foreign crime” actually consists of immigration law violations. However, this is not the case. For one, these figures do not include violation of immigration law, which were excluded from the data. When one examines the data, foreigners are vastly overrepresented is in serious crime, especially violent crimes.

          In fact, half of all violent crimes in Germany were committed by foreigners.

          In 2023, the authorities registered around 214,000 violent crimes, an increase of 8.6 percent, and several records were broken in this area. There was a record number of cases involving dangerous and grievous bodily harm, reaching 154,000 cases, a 6.8 percent increase. At the same time, “intentional simple assault” rose to an all-time high of 434,000 cases, jumping 7.4 percent.

          Robberies soared higher by 17 percent to 44,857, which is also considered a violent crime.

          Crime soared in other categories as well. For example, residential burglary rose to 77,819 cases, up 18.9 percent, car theft (29,985, up 17.5 percent), shoplifting (426,096, up 23.6 percent) and pickpocketing (109,314, up 11 percent).

          A total of around 5.94 million crimes were registered in 2023.

          The numbers don’t give the full picture

          To truly understand this rise in foreign crime, it must also be understood that many of the “German” suspects actually have a migration background and are not ethnic Germans. That is because the statistics count any foreigner who obtains German citizenship as simply “German.”

          Second- or third-generation migrants who commit crimes are also simply listed as “German” in the crime statistics.

          This is unlike Denmark, for instance, which tracks suspects with a migration background, giving a much clearer picture.

          Read more here…

          Tyler Durden
          Wed, 04/10/2024 – 02:00

        • Islands That Climate Alarmists Said Would Soon "Disappear" Due To Rising Sea Found To Have Grown In Size
          Islands That Climate Alarmists Said Would Soon “Disappear” Due To Rising Sea Found To Have Grown In Size

          Authored by Chris Morrison via DailySceptic.org,

          An amount of land equivalent to the Isle of Wight has been added to the shorelines of 13,000 islands around the world in just the last 20 years. This fascinating fact of a 369.67 square kilometre increase has recently been discovered by a group of Chinese scientists analysing both surface and satellite records. Overall, land was lost during the 1990s, but the scientists found that in the study period of three decades to 2020 there was a net increase of 157.21 km2. The study observed considerable natural variation in both erosion and accretion. Of course, the findings blow holes in the poster scare run by alarmists suggesting that rising sea levels caused by humans using hydrocarbons will condemn many islands to disappear shortly beneath rising sea levels. By means of such flimsy scare tactics, as we have seen in many other cases, desperate attempts are made to terrify global populations to accept the insanity of the Net Zero collectivisation.

          The scientists said their data suggested that sea-level rise has not been a widespread cause of erosion for island shorelines in the studied regions.

          “Presently, it is considered one of the contributing factors to shoreline erosion but not the predominant one,” they explained.

          Needless to say, none of this will detain the attention of climate hysterics in both mainstream media and politics.

          The Guardian was in fine form last June stating that rising oceans will extinguish more than land.

          “It will kill entire languages,” it added, noting the effect on Pacific islands such as Tuvalu. Those areas of the Earth that were most hospitable to people and languages are now becoming the “least hospitable”.

          Silly emotional Guardianista guff of course, but happily it does not seem to apply to Tuvalu.

          A recent study found that the 101 islands of Tuvalu had grown in land mass by 2.9%.

          The scientists observed that despite rising sea levels, many shorelines in Tuvalu and neighbouring Pacific atolls have maintained relative stability, “without significant alteration”. A comprehensive re-examination of data on 30 Pacific and Indian Ocean atolls with 709 islands found that none of them had lost any land. Furthermore, the scientists added, there are data that indicate 47 reef islands expanded in size or remained stable over the last 50 years, “despite experiencing a rate of sea-level rise that exceeds the global average”.

          The Maldives is also a poster scare for rising sea levels, with the attention-seeking activist Mark Lynas – he of the nonsense claim that 99.9% of scientists agree humans cause all or most climate change – organising an underwater Cabinet meeting of the local Government in 2009. As it happens, the Maldives is one of a number of areas that have seen recent increases in land mass.

          Other areas include the Indonesian Archipelago, islands along the Indochinese Peninsula coast, and islands in the Red and Mediterranean Seas. Notably, the  coastal waters of the Indochinese Peninsula had the most substantial gain, with an increase of 106.28 km2 over the 30-year period. Of the 13,000 islands examined, the researchers found that only around 12% had experienced a significant shoreline shift, with almost equal numbers experiencing either landward (loss) or seaward (gain) movement.

          The scientists identify many reasons why islands can grow in size despite the small annual rises in sea level seen in many parts of the world. It is noted that island shorelines are constantly changing due to factors such tides, winds, nearshore hydrodynamics and the transport of sediment. On inhabited islands, human action such as fish farming and land reclamation can be important.

          Of course, humans action can have a number of unintended consequences, notably the mining of coral and the breakdown of natural water barriers. Island states such as the Maldives have not been slow in coming forward to claim ‘climate reparations’ from guilt-tripped citizens in the developed world. But tourism has dramatically boosted income in the Maldives to first world levels at a time when the locals have mined coral in industrial quantities to build ports, airports and resort developments. In the process, ocean life diversity has been lost and the islands are often less protected from storm waves that can flow direct to the shoreline. In a recent essay, a group of scientists and economists charged that coral mining “has resulted in massive degradation of shallow reef-flat areas, with important negative impacts on coastal protection”.

          The Chinese findings are important in helping destroy the claim that many low-lying islands will simply disappear beneath the waves in the near future due to human-induced climate change. They show how shoreline changes are a persistent and ongoing process that is subject to many natural and human influences. Most of the poster islands used for climate scares such as Tuvalu and the Maldives have increased in size of late, and are hardly suitable to whip up fear of a claimed climate ‘emergency’. Sea level rise is not a “predominant” cause of the changing coasts, the scientists note.

          Tyler Durden
          Tue, 04/09/2024 – 23:40

        • How Will Tehran Respond To Israel? Could Iranian Stealth Drones Target Critical Oil Infrastructure?
          How Will Tehran Respond To Israel? Could Iranian Stealth Drones Target Critical Oil Infrastructure?

          Iran’s foreign minister said on Monday that Washington military leaders gave Israel the “green light” to conduct a missile strike on its consulate building complex in Damascus last week that killed several of its top military officials, including two generals. 

          Hossein Amirabdollahian said, “Our response to the Zionist regime and its punishment is certain.” He continued that “conveying the message of our country to the United States as a full-fledged support of the Zionist regime and direct response for its crimes and actions.” 

          Addressing those warnings, in the US, National Security Council Strategic Communicators Coordinator John Kirby stated at a press conference on Monday that he couldn’t touch on the specific intelligence matters but pointed out that “the Israeli government could count on the United States’ support for any self-defense needs against threats directly by Iran to Israel, threats that Iran has made public.” 

          As a possible military response by Tehran nears, Kirby also warned US troops across the Middle East, especially in Iraq and Syria, face mounting threats from drone and missile attacks. 

          The question on everyone’s mind in the intel community is how Iran will respond. Tehran has many options, but which will it use?

          A Bloomberg report on Monday titled “Iran’s Better, Stealthier Drones Are Remaking Global Warfare” reminded us how Iran’s mastery of low-tech drone warfare poses a significant threat to US military bases and oil infrastructure in the Middle East. 

          Earlier this year, three American troops were killed, and more than three dozen were injured by an Iranian-designed kamikaze drone at the Tower 22 US military base in Jordan. 

          “The last two years have been a period of hyper-acceleration of new tactics and techniques for Iran’s employment of drones,” Matthew McInnis, a Pentagon intelligence officer, told Bloomberg. 

          In February, Iran’s Aerospace Force Commander Brig. Gen. Amir Ali Hajizadeh announced that Tehran-made stealth drones could target any moving vessel and critical infrastructure at great ranges. 

          Hajizadeh claimed that Iran is one of the world’s leading powers in defense, including drone and missile technologies. 

          “We have now reached a point where the terrorist military of the United States openly admits that it is not seeking a conflict with the Islamic Republic because it is unable to resist the Iranian defense prowess,” he said. 

          Iran’s drones are becoming stealthier, and that has the US intel community up at night. Bloomberg pointed out, “The one that hit Tower 22 in January penetrated US defenses by shadowing an American drone that was landing there.” 

          A spokesman for the US Department of Defense recently said Iran’s procurement, development, and proliferation of drones are “an increasing threat to international peace and security.” They noted that Defense Secretary Lloyd Austin set up a panel of senior leaders last month to figure out “this urgent operational challenge.” 

          Iran’s stealth drone technology has likely advanced significantly since Yemen’s Houthi rebels, backed by Tehran, launched a complex drone swarm attack on the world’s largest oil processing facility in Saudi Arabia in 2019. 

          The question, again, is how Tehran will respond to Israel/the US. There are mounting concerns Iran or Iran-backed proxy groups could use suicide stealth drones against critical oil infrastructure, such as the Abqaiq oil processing facility in Saudi Arabia. Brent crude would immediately spike over the $100 a barrel mark if that facility was hit. And it would be viewed as an indirect attack on the US, as we penned in a note titled “The Weaponization Of Crude Could Trigger The Next Financial Shock.” 

          Iran has stealth drone technology, and we’re sure they’re not just looking at pretty drones in a giant underground warehouse. They will use it. The question the intel community has is how Tehran will respond to Israel. 

          Tick, tock, tick, tock… 

          Tyler Durden
          Tue, 04/09/2024 – 23:20

        • US Will Not Accept Another "China Shock", Yellen Says
          US Will Not Accept Another “China Shock”, Yellen Says

          By Dorothy Li of The Epoch Times

          China commonly floods global markets with cheap products, and the United States will not allow this to threaten U.S. jobs, Treasury Secretary Janet Yellen said on April 8 as she concluded a return visit to China.

          After Bejing’s acceptance into the World Trade Organization, massive quantities of low-priced products exported from China killed about 2 million jobs in the United States and led to the hollowing out of industrial production in many parts of the country, Ms. Yellen told reporters in Beijing, calling it the “first China shock.”

          “I simply would say, [the situation] would not be acceptable to the United States,” she said.

          On her second trip to China as treasury secretary, Ms. Yellen repeatedly expressed Washington’s concerns about Beijing’s burgeoning production in green-energy sectors, including electric vehicles, their batteries, and solar panels, as household consumption remains weak in the country.

          She criticized China for flooding the global market with cheap products, as Beijing shifted its policy focus by investing in manufacturing factors to boost the country’s stagnant economy.

          The message recurred through the four days of talks with senior Chinese officials, including Premier Li Qiang and Vice Premier He Lifeng, who oversees China’s economic and financial systems.

          Following the April 8 meeting with the Bank of China Governor Pan Gongsheng, Ms. Yellen raised the issue again.

          “I am particularly worried about how China’s enduring macroeconomic imbalances—namely, its weak household consumption and business overinvestment, aggravated by large-scale government support in specific industrial sectors—will lead to significant risk to workers and businesses in the United States and the rest of the world,” she told reporters at the U.S. ambassador’s residence in Beijing.

          “China is now simply too large for the rest of the world to absorb this enormous capacity. And when the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question.”

          The treasury secretary acknowledged that addressing the issue takes time. “Our concerns will not be resolved in a week or a month,” she said….

          There are signs that Beijing is reluctant to change its economic strategy.

          …

          But she emphasized that the Biden administration would push Beijing to change its course.

          Over a decade ago, China’s massive state subsidies “led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States,” she said.

          “I’ve made clear that President Biden and I will not accept that reality again.”

          Continue reading at The Epoch Times

          Tyler Durden
          Tue, 04/09/2024 – 23:00

        • Japan Warns AI Could Cause Total Collapse Of The Social Order
          Japan Warns AI Could Cause Total Collapse Of The Social Order

          Authored by Paul Joseph Watson via Modernity.news,

          Two top Japanese companies have warned that artificial intelligence could cause a total collapse of the social order if it is not rapidly reigned in.

          Nippon Telegraph and Telephone (NTT) and Yomiuri Shimbun Group Holdings, the country’s largest telecommunications company and the country’s biggest newspaper, jointly published the AI manifesto.

          It warned that if legislation is not passed quickly in major countries across the world, artificial intelligence threatens to decimate democracy and provoke widespread societal unrest.

          Pointing to AI programs being developed by US tech giants, the manifesto warns, “In the worst-case scenario, democracy and social order could collapse, resulting in wars.”

          https://platform.twitter.com/widgets.js

          The report stated that such technology is designed to seize users’ attention with little regard for morality or accuracy.

          Guided by Keio University researchers, the companies called on the Japanese government to pass new laws to protect elections and national security from AI.

          As we previously highlighted, programs such as Google’s Gemini AI system caused fury after they openly discriminated against white people and in some cases erased them from history altogether.

          OpenAI’s ChatGPT produced equally ludicrous content, in one case saying it would refuse to quietly utter a racial slur that no human could hear in order to save 1 billion white people from a “painful death.”

          *  *  *

          Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

          Tyler Durden
          Tue, 04/09/2024 – 22:20

        • Iron Ore's Two-Day Rally Biggest In Years On China Bottoming Hopes  
          Iron Ore’s Two-Day Rally Biggest In Years On China Bottoming Hopes  

          Over the past year, there has been a surge in doom-and-gloom headlines about China’s economy. The country’s mercantilist policymakers have spent months attempting to stimulate a fragile economy through monetary easing while keeping the real estate crisis at bay. However, a more optimistic view is emerging as Chinese macroeconomic data and stocks stabilize, with the commodity market now indicating signs of a more favorable economic outlook heading into spring. 

          Bloomberg reports iron ore prices in Asia are headed for the largest two-day rally in more than two years, fueled by prospects of a bump in steel demand and output in the world’s second-largest economy. 

          According to financial firm Macquarie Group, April and May are the most active periods for construction across China. They noted that iron ore inventories are peaking at ports, and steel output at the nation’s blast furnaces has already increased. 

          There’s a “bit of a reversion back to normal seasonal trends where you have higher hot metal production throughout the middle of the year,” Rob Stein, a metals analyst at Macquarie, told Bloomberg in a phone interview. Stein added that this should help iron ore to achieve a price range between $110 and $120 a ton. 

          Nick Savone, global head of equity sales at Morgan Stanley, wrote in a note to clients that his “team’s supply/demand model shows a closely balanced market, supporting prices well above the cash cost curve, which continues to move higher. They see upside to spot price, to $120/t in Q3, as Chinese stocks draw down on stable demand and lack of further upside to seaborne supply.”

          Despite China’s economy being plagued with many problems, including a real estate bust, deflation, debt troubles, demographic winter, foreign investor exodus, supply chain fracturing, and deteriorating Sino-US ties, recent macroeconomic data shows a potential bottom forming. 

          China’s official factory purchasing managers index moved into expansion last month, the first time since September. The services sector index hit the highest level since June, and a separate factory index from and S&P Global hit to a 13-month high. 

          Late last month, China’s President Xi Jinping met with more than a dozen American business leaders, including Stephen Schwarzman of Blackstone Inc. and Cristiano Amon of Qualcomm Inc., to restore confidence in the Chinese economy. 

          The CSI 300 Index found a floor at the start of February and rose 13% through early April. After halving since February 2021, the multi-year equity rout appears stabilized (for now). 

          Meanwhile, the JPM Global MFG PMI index bottomed for the past year and recently moved into expansion territory. 

          The question on everyone’s mind is if the world’s second-largest economy has finally bottomed. If so, the global economy could be on a soft landing path. If not, look out below… 

          Tyler Durden
          Tue, 04/09/2024 – 22:00

        • Jordan Believes Hamas Behind Huge Gaza Protests Which Seek To Sever Ties With Israel
          Jordan Believes Hamas Behind Huge Gaza Protests Which Seek To Sever Ties With Israel

          Via Middle East Eye

          Jordanian authorities have clamped down on participants in the daily protests against the Israeli war on Gaza, amid accusations that Hamas has a role in igniting them. Thousands have been protesting daily in Ramadan in front of the Israeli embassy in the capital, Amman, demanding its closure and an end to normalization with Israel in response to its atrocities in Gaza.

          The protests continued even though the embassy has no diplomatic mission, following the departure of Israel’s ambassador in October and Jordan’s recalling of its ambassador in protest of the Israeli war on Gaza. Jordanian authorities have been caught off guard by the size of the Ramadan protests, which average between 6,000 to 10,000 participants. 

          Via Reuters

          Columnists and former officials have attacked Hamas leaders, especially Khaled Meshaal, accusing the movement and the Muslim Brotherhood of trying to create chaos in Jordan.  Former information minister Samih al-Maaytah accused the Hamas movement abroad of collaborating with the Muslim Brotherhood in Jordan to advance Hamas’s political agendas. 

          “Hamas abroad is trying to pressure Jordan to restore relations with the movement,” he said, citing a speech on March 26 in Amman by Meshaal, the head of Hamas abroad, calling on millions to take to the streets.

          “Hamas wants to send a message that it can influence and lead the Jordanian street, which is also convenient for the Iranians who have not been able to exercise any political influence in Jordan,” Maaytah told MEE.

          Jordanian government spokesperson Muhannad Moubaydeen said on Tuesday that the government did not mind the demonstrations, but was concerned about the chants, which it views as pro-Hamas.

          “Jordanian security is charged with protecting the demonstrators and ensuring their safety, but the problem is those who harm national security and come out with unacceptable chants,” he said in a press conference. The Muslim Brotherhood in Jordan has rejected these accusations. 

          According to Murad al-Adayleh, the Secretary-General of the Islamic Action Front, a party affiliated with the Muslim Brotherhood, “there are no special party interests in these protests, which represent all sectors of Jordanian society that support the Palestinian resistance”.

          “The Jordanian people’s relationship with the Palestinian issue is different from any Arab people because it is geographically and demographically related to Palestine,” Adayleh told MEE. “We paid sacrifices and sacrifices from our children for the sake of Palestine, so it is natural for us to see these sit-ins in all cities.”

          Adayleh said the accusations of Hamas’s role in the protests seek to discredit the protest movement, which has so far been the largest in the Arab world. “There are attempts to demonize the Jordanian movement because it has begun to influence the Arab street and has galvanized protests in other Arab countries,” he said. 

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          Jordan was the second Arab country after Egypt to normalise relations with Israel in 1994, in a peace treaty that remains deeply unpopular in the country. Jordanians have also denounced the kingdom’s import of Israeli gas as “treasonous”.

          Hundreds detained

          Jordanian security services have detained hundreds of political activists from different parties since the beginning of the 7 October war. Lawyer and former judge Louay Obeidat said that more than 1,500 activists have been prosecuted for their protest activities. 

          Many of them have been released, but dozens remain in administrative detention, while seven are considered to have been forcibly disappeared. Among the detainees was trade union activist Maysara Malas, who has been in administrative detention, held without charge for the past four months in connection with the protests.

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          Malas’s family said that 20 members of the General Intelligence raided his house in al-Rashid suburb at dawn on 4 January to arrest him. During the raid, the officers asked all family members to turn off their phones, searched the house and Malas’s car, and confiscated documents, electronic devices and surveillance camera tapes, the family said in a statement. 

          After an hour-and-a-half-long search of their house, Malas was handcuffed and detained without any charge. He remains in detention at the General Intelligence Department, and his lawyer has been prevented from visiting him, according to the family. 

          The National Alliance for Rights and Freedoms, a group of human rights activists, said that the Jordanian authorities pursued a huge number of activists in connection with the sit-in near the Israeli embassy.

          Tyler Durden
          Tue, 04/09/2024 – 21:40

        • 'Bird Flu-Pocalypse' Forces Hong Kong To Suspend Some Imports Of US Poultry Meat
          ‘Bird Flu-Pocalypse’ Forces Hong Kong To Suspend Some Imports Of US Poultry Meat

          The recent spread of bird flu—also known as highly pathogenic avian influenza, or HPAI— across several US states has been hyped by corporate media. Some journalists are quoting ‘experts’ who warn the bird flu pandemic could be ‘100 times worse’ than Covid.’ 

          According to Bloomberg data, the story count in corporate media for all things “Bird Flu” last week hit a record high on data going back to 2014. 

          The context here is crucial. Bird flu is not just a US issue anymore; it’s ‘going global,’ and this is happening just before the US presidential elections in November.  

          On Tuesday, Hong Kong’s food safety authority published a memo stating, “Import of poultry meat and poultry products suspended in some areas of the United States.” 

          Here’s the full memo from the Center for Food Safety (CFS) of the Food and Environmental Hygiene Department:

          The Center for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (April 9) that in response to a notification from the World Organization for Animal Health regarding an outbreak of highly pathogenic H5N1 avian influenza in Ionia County, Michigan, and Parmer County, Texas, USA, The CFS immediately instructed the trade to suspend the import of poultry meat and poultry products (including poultry eggs) from the above-mentioned areas to protect public health in Hong Kong.

          A spokesman for the CFS said that according to the Census and Statistics Department, Hong Kong imported about 37,770 tonnes of chilled and frozen poultry meat and about 83.84 million poultry eggs from the United States last year.

          The spokesman said: “The CFS has contacted the US authorities regarding the incident and will continue to closely monitor information on the outbreak of avian influenza from the World Organization for Animal Health and relevant authorities, and will take appropriate actions in light of the development of the local epidemic.”

          If it’s bird flu or whatever “Disease X” could possibly be, there appears to be a push to “intersect” some type of ‘Covid crisis’ before the 2024 US elections.

          “They will surely try to run their “Disease X” ruse. But they have already lost the trust of the people they made war against in their own country. In which case, expect resistance among the un-sick,” James Howard Kunstler penned in a note earlier this month.

          Tyler Durden
          Tue, 04/09/2024 – 21:20

        • Vanderbilt Students Expelled Over Violent Protest, Including Activist Recognized By The White House
          Vanderbilt Students Expelled Over Violent Protest, Including Activist Recognized By The White House

          Authored by Jonathan Turley,

          For years, we have discussed the failure of universities to take actions against faculty and students shutting down events or acting unlawfully, including faculty guilty of criminal assault.

          Now, Vanderbilt has expelled three students after anti-Israel protests, including Jack Petocz, a political activist recognized by the White House and featured prominently in the New York Times and other news outlets.

          According to the Vanderbilt Hustler and The College Fix, the students were arrested for allegedly assaulting a security guard amid raucous anti-Israel protests inside an Administration building late last month.

          A security video shows a security officer overwhelmed as he tried to keep protesters out of Kirkland Hall.

          The officer is shown being pushed down the hall before leaving the frame of the video camera.

          Petocz posted a denial on X:

          “I did not touch a community service officer, nor am I anywhere near the individual in the video. I’d implore you to trust a student activist over rich, powerful, white men, but that’s your choice.”

          He insisted that he and the other students were only “peacefully protesting the genocide in Palestine.”

          X Screenshot

          Petocz’s activism, including opposing the Florida parental rights law, has been widely celebrated in the media including an article that featured him in a January 2022 front story on fighting conservative school boards. President Biden invited him to the White House for a bill signing and took a picture with him in the Oval Office.

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          It appears that universities are growing impatient with protesters, particularly after a series of sit-ins. Recently, students were suspended for storming the office of Pomona College President Gabrielle Starr. Nineteen students were reportedly arrested.

          Starr claimed in an open letter that racial slurs were used by students and declared:

          “These actions are actively destructive of the values that underpin our community. Any participants in today’s events … who turn out to be Pomona students, are subject to immediate suspension. Students from the other Claremont Colleges will be banned from Pomona’s campus and subject to discipline on their own campuses.”

          The actions of the university have led to protests on campus and calls for the student board to reverse that suspensions.

          Tyler Durden
          Tue, 04/09/2024 – 21:00

        • Equity Mantra Now Is To Buy Dips But Hedge Risks
          Equity Mantra Now Is To Buy Dips But Hedge Risks

          By Jan-Patrick Barnert, Bloomberg markets live reporter and strategist

          There are two pieces of stock market wisdom which — unlike many others — often ring true: “buy protection when you can, not when you must” and “a hedged pot never boils.” Both seem to be at play right now.

          Last Thursday’s equity drop was followed the next day by a 1% gain on Wall Street and a late-session bounce in the Stoxx 600. That fits the pattern we’ve seen since December — that of an uptrend punctuated with occasional drops, before markets to cruise back to record highs in a day or two.

          Strategists at Tier 1 Alpha acknowledge Thursday’s move was “one of those exogenous events that took markets unexpectedly for a loop.” But they note that as the selloff accelerated, oil prices and Bitcoin spiked, while US short-term rates and gold snoozed. With no across-the-board flight to safe havens, Thursday was likely more about individual investors hedging positions, rather than everyone rushing for the door, they say adding that “somebody felt more pain than the rest of us.”

          Indeed, buying and pricing of put options is picking up both in Europe and the US. Levels are certainly not extreme but the trend indicates investors are less complacent than before, as the timing of the first US interest-rate cut recedes further into the year.  

          “For the first time this year, we saw real demand for protection on Thursday, as the GS Panic Index reached its highest level since last fall,” Goldman Sachs’s Derivatives Sales Trading desk tells clients. And the bank’s prime desk points to net US equity sales heading into Friday’s non-farm payrolls print, with short sales outpacing long buys.

          Meanwhile, Thursday’s move lifted the VIX above 16 points — a departure from the pattern of recent months, whereby the gauge mostly closed below the 15-point mark. If the correlations illustrated by our chart below hold true, stocks might be in for some more trouble — essentially a VIX spike along the lines of last spring and summer would imply a 4-6% equity decline over a 20-day rolling period.

          Finally, take a look at market momentum. That’s deteriorated over the past two trading days, with pro-cyclical benchmarks such as DAX and Dow lagging, alongside US mid- and small-cap stocks. These areas are usually sensitive to interest rates, yet for months they have largely ignored the US rate-cut re-pricing, widening the stock-bond gap to a level many would consider uncomfortable.

          “This gap combines with various risks, technical indicators and signals to suggest not chasing equity markets here. We would look for better entry points ahead,” writes Berenberg analyst Jonathan Stubbs. His view echoes that of Amundi, which missed the recent rally yet plans to wait for a market pullback before wading into buy.

          It all suggests investors plan to stay in the game for now, merely adjusting their portfolios to their highest conviction trades. But at such cheap levels, putting hedges in place increasingly looks like a no-brainer.

          Tyler Durden
          Tue, 04/09/2024 – 20:20

        • 15 US Agencies Knew Wuhan Lab Was "Trying To Create A Coronavirus Like COVID-19": Rand Paul
          15 US Agencies Knew Wuhan Lab Was “Trying To Create A Coronavirus Like COVID-19”: Rand Paul

          While a massive body of evidence exists on the origins of COVID-19, Senator Rand Paul (R-KY) is conducting his own investigation into the matter.

          In a Tuesday op-ed, Paul writes that government officials from 15 federal agencies “knew in 2018 that the Wuhan Institute of Virology was trying to create a coronavirus like COVID-19.”

          These officials knew that the Chinese lab was proposing to create a COVID 19-like virus and not one of these officials revealed this scheme to the public. In fact, 15 agencies with knowledge of this project have continuously refused to release any information concerning this alarming and dangerous research.

          Government officials representing at least 15 federal agencies were briefed on a project proposed by Peter Daszak’s EcoHealth Alliance and the Wuhan Institute of Virology. -Rand Paul

          Paul is talking about the DEFUSE project, which was revealed after DRASTIC Research uncovered documents showing that DARPA had been presented with a proposal for EcoHealth to perform gain-of-function research on bat coronavirus.

          And according to Rand Paul, officials from 15 agencies knew about this. While the project was never funded (DARPA called it too dangerous) – Paul writes: “This project, the DEFUSE project, proposed to insert a furin cleavage site into a coronavirus to create a novel chimeric virus that would have been shockingly similar to the COVID-19 virus.“

          And what does this mean?

          It means that at least 15 federal agencies knew from the beginning of the pandemic that EcoHealth Alliance and the Wuhan Institute of Virology were seeking federal funding in 2018 to create a virus genetically very similar if not identical to COVID-19.

          Disturbingly, not one of these 15 agencies spoke up to warn us that the Wuhan Institute of Virology had been pitching this research. Not one of these agencies warned anyone that this Chinese lab had already put together plans to create such a virus.

          Peter Daszak concealed this proposal. University of North Carolina scientist Ralph Baric, a named collaborator on the DEFUSE project, failed to reveal that the Wuhan Institute of Virology had already proposed to create a virus similar to COVID-19.

          And now we know that 15 agencies heard the proposal and when each agency discovered that COVID-19 was strangely similar to DEFUSE’s proposed virus creation, not one agency head stepped forward to warn the public that the virus might be man-made and therefore already adapted to transmit freely among humans. -Rand Paul

          Paul further writes that Fauci’s NIAID was not only briefed on the DEFUSE proposal, his “Rocky Mountain Lab” was named as a partner in it along with the Wuhan Institute of Virology.

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          Meanwhile, researcher Ian Lipkin, one of the authors of the “proximal origins” coverup paper, was also part of the DEFUSE plan – which he never revealed publicly.

          “Did NIAID warn us? Did Anthony Fauci warn us? No! All lips remained sealed,” writes Paul.

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          Tyler Durden
          Tue, 04/09/2024 – 20:00

        • Staving Off Revolution
          Staving Off Revolution

          Authored by Charles Hugh Smith via OfTwoMinds blog,

          If the leadership chooses happy-story PR and toothless reforms for show in the hopes it will all blow over, these subterfuges have the potential to push dissatisfaction beyond the point of control.

          Whatever else we might say or think about the leadership class, they tend to have a keen sense of self-preservation. The ability to issue optimistic visions of sunshine and unicorns with a straight face is valuable, to be sure, but so is the ability to sense that the BS is no longer working and something must be done to stave off a potentially career-ending collapse of confidence.

          As a general rule, the ability to maintain a delusional confidence that it’s all going to work out just fine tends to end very poorly for the leadership class. However sincerely it may be uttered, let them eat brioche doesn’t resolve the extreme asymmetries that generate revolutionary disorder. Something more is required, something that either reduces the asymmetries of wealth and power or gives the appearance of doing so.

          Staving off revolution requires some action that benefits those for whom the status quo is no longer working. While borrowing and distributing “free money” works for awhile, this profligacy generates its own destabilizing dynamics, and so eventually reducing the asymmetries of wealth and power requires the leadership to take a chunk out of the perquisites and spoils of the financial elite.

          Since the leadership class is either beholden to the financial elite or has dual membership in both clubs, the leaders are quickly declared “traitors to their class” even as they are acting to stave off the overthrow of the predatory financial elite that pushed asymmetries to destabilizing extremes.

          In other words, the leaders saving the financial elite from the consequences of their own rapacity will get no credit from those they’re saving. Rather than grasping that giving up 10% of their gains will preserve the remaining 90%, the infinite greed and hubris of the financial elite locks their minds in a delusional fantasy that their wealth and power are “deserved” and therefore untouchable.

          That the system is rigged so that every pitch is a gentle toss and every base hit becomes a home run is conveniently ignored.

          That doing nothing could lead to a one-way ticket to Devil’s Island issued by a revolutionary government doesn’t compute. That they could soon be fighting over the MREs occasionally flung from aircraft doesn’t penetrate their hubris-soaked echo chamber of entitlement. The task of saving their own class falls thanklessly to the leadership.

          Policies that would have been rejected out of hand as politically impossible become normalized as leaders rush to stave off revolution. The historical path from complacency to denial to policy extremes is well-worn: first the leadership tries the sunshine and unicorns cover story. When this fails to satisfy the disenfranchised mob, the leaders issue grand sounding edicts that suggest “hope and change” is right around the corner.

          Once this well-used ploy fails to quench the social distemper, then the leaders accept that “when things get serious, you have to lie,” and so they lie, at first to cool the ugly sentiment and then to buy time.

          Eventually, some real action has to be taken, and then it gets dicey. There are mistakes to be made in any policy choice: doing nothing can trigger disaster, but so can doing too little or too much. The luxury of calibrating a response is no longer available, and so extreme policies are thrown at the wall until something sticks.

          Those who counseled caution are cashiered, for their advice led to the current crisis. Those who counseled radical responses are elevated and freed to unleash whatever they claim will work like magic.

          But alas, by this late stage, magic is in short supply, and extreme policies set off second-order consequences no one anticipated, except perhaps those overly cautious voices who did not understand that the option of good choices had long since dissipated, and the only options left were bad or possibly worse than merely bad.

          The extremes of wealth-power asymmetries that generated the crisis are eventually matched by equally extreme policies designed to stave off the overthrow of the ruling elites. If these actually rebalance what was allowed to drift out of balance, order and stability can slowly be restored.

          If the leadership chooses happy-story PR and toothless reforms for show in the hopes it will all blow over, these subterfuges have the potential to push dissatisfaction beyond the point of control, and predictions about the next stage of events become folly: beyond this event horizon, anything becomes possible.

          *  *  *

          Become a $3/month patron of my work via patreon.com.

          Subscribe to my Substack for free

          Tyler Durden
          Tue, 04/09/2024 – 19:40

        • Moscow Accuses Hunter Biden-Linked Company Burisma Of Financing Terror Attacks
          Moscow Accuses Hunter Biden-Linked Company Burisma Of Financing Terror Attacks

          Russia says it has uncovered more damning evidence connecting the US and NATO to recent terror and assassination campaigns in Russia, including making connections to the March 22 Crocus City Hall terror attack which resulted in over 140 Russians dead and hundreds more wounded and injured.

          Russia’s Investigative Committee, which is the country’s top investigative body, announced Tuesday that it has launched a criminal probe into senior US and Western officials who are believed to be “financing terrorism”. 

          The formal statement claims that an ongoing investigation has “established” that money from commercial organizations tied to NATO were used to “eliminate prominent political and public figures” inside and outside Russia, as well as to “inflict economic damage” against the country. Lately there’s also been a spate of devastating cross-border attacks on refineries, ports, and oil facilities.

          President Biden has long been under scrutiny centered on alleged corruption involving him and his son, Hunter Biden. via AP

          Another major event and probe which is high on the Kremlin’s agenda is the August 20, 2022 assassination of Darya Dugina outside of Moscow, in a car bombing which authorities believe was likely intended to kill her father, Alexander Dugin, prominent philosopher and pundit who is seen as a close ally of President Putin. There’s also the assassination of famous pro-Kremlin military blogger Vladlen Tatarsky, killed in an April 2023 cafe bombing in St. Petersburg..

          While it is nothing new that Russian officials would raise suspicions that such targeted attacks had covert NATO support, whether directly or indirectly, what is new – and a bit surprising – is that the name Burisma Holdings appears in the fresh statement of the Russian Investigative Committee. 

          This name is of course very familiar and notorious in the West, as AFP and Moscow Times report Tuesday:

          The top law enforcement body named the Ukrainian energy company Burisma Holdings as one of the implicated organizations. U.S. President Joe Biden’s son Hunter Biden served as a member of Burisma’s board of directors between 2014 and 2019.

          His role has fueled Republican accusations against the Biden family over claimed corruption and culminated in an ongoing impeachment probe in U.S. Congress. Hunter Biden has denied any wrongdoing, and a former FBI informant was arrested in February on suspicion of fabricating accusations against the president’s family.

          The Russian investigative body described that it is still examining “sources and movement of several million U.S. dollars and the involvement of specific persons from government officials and public commercial organizations of Western countries.”

          It said further it is seeking to expose “links of the direct perpetrators of terrorist acts with their foreign curators, organizations and sponsors” — however without naming specific countries or specific terror attack or assassinations (other than identifying Burisma).

          Just like with US media over the past several years, Burisma has been featured prominently in Russian state media reporting. Below is the precise section from Tuesday’s official statement naming Burisma (according to machine translation):

          It has been established that funds received through commercial organizations, in particular, the oil and gas company Burisma Holdings, operating in Ukraine, have been used in recent years to carry out terrorist acts in the Russian Federation, as well as beyond its borders in order to eliminate prominent political and public figures and causing economic damage. —Russian Investigative Committee

          This marks a first over the course of the more than two year long Russia-Ukraine war. Recently, Ukraine has stepped up its cross-border drone and missile attack on Russian soil. Moscow has all along complained that these attacks are sophisticated and long-range enough (with long-range attacks especially wreaking havoc on Russian oil facilities) that they must have CIA or Western intelligence help. 

          Conservative media was abuzz Tuesday after a familiar name resurfaced, this time over alleged links to terror financing…

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          It appears that the Kremlin is now not just pointing the finger at Western governments, but at commercial entities within Ukraine which have long established Western business ties. It seems the theory is that companies like Burisma are continuing to play a ‘middle man’ role in term of ‘terror financing’ for attacks on Russian soil.

          Washington has repeatedly rejected Russian allegations that the US is involved in these attacks. Yet as we’ve recently detailed, more and more US mainstream media reporting has of late been offering surprising clarity on the CIA’s role in assisting Ukraine with mounting high-risk cross border attacks on Russian soil of late.

          Tyler Durden
          Tue, 04/09/2024 – 19:20

        • David Hogg Group Hit With Allegations Over Spending Practices And Policies
          David Hogg Group Hit With Allegations Over Spending Practices And Policies

          Authored by Jonathan Turley,

          Gun control activist David Hogg has been hit with allegations over the spending practices of his group Leaders We Deserve PAC. Conservative outlets are reporting that the group spent comparably little on actual candidates as opposed to travel and expenses. His prior counsel is a familiar name in such controversies in Washington: former Clinton campaign general counsel Marc Elias.

          (Official White House Photo by Adam Schultz)

          Hogg created a group in the aftermath of the 2022 midterm elections to elect Generation Z politicians to offices throughout the country. The group was given favorable national coverage in major media outlets. He explained that contributions would be used to elect young Democrat candidates:

          “[We’re] trying to pick them and say, you know, we would like to help you run for office, we’ll supply you with all of the resources that you need and help basically coach you and hold your hand to get there, which is kind of the gap that’s in the space right now, for at least young people at the state legislative level.”

          Federal filings reportedly show that year-end 2023, Leaders We Deserve raised over $3 million. That is impressive for its first year in operation.

          The conservative sites allege that the group spent “only about $263,000 on its stated mission of electing candidates from Generation Z to office combined with donations to other Democrat Party committees and groups—and instead spent more than $1.4 million on disbursements to themselves for payroll and to political consulting firms and legal fees, in addition to travel and entertainment expenses like hotels, flights, and meals.”

          However, it spent reportedly spent more than $1,314,000 on travel and related expenses while giving $80,000 to the Elias Law Group.

          Previously, when allegations of self-dealing and accounting improprieties were raised with regard to Black Lives Matter, the group’s attorney, Elias, immediately stood out for many. Elias resigned from his “key role” with BLM as the scandal exploded.

          (MSNBC/via YouTube)

          Elias’s name has now again popped up in the controversy involving Hogg, who is accused of raising millions to support liberal candidates but allegedly spending only $263,000 on such candidates while paying $83,000 to the Elias law firm. (These figures are reportedly from federal filings but neither Elias nor Hogg have specifically addressed the media reports).

          Elias has long been a controversial figure, including being sanctioned in court. He was named as the key figure in hiding the funding of the Steele dossier by the Clinton campaign, which led later to a FEC fine. Reporters accused the campaign of lying to them about the funding. Elias was also reportedly with campaign chair John Podesta when he allegedly denied such funding to congressional investigators.

          Despite accusing the GOP of election denial and manipulation, Elias was also involved in alleged gerrymandering efforts and challenging the outcome of elections based on alleged problems with voting machine tallies.

          Back to the most recent controversy, Hogg could argue that, as a well known activist figure, his travel to these campaigns is the boost that the group promised donors. He is the assistance. Likewise, the group could argue that it is still getting ramped up for greater spending efforts in the fall. As for the legal fees, the group could argue that start up legal fees and reporting fees tend to be higher at the outset.

          The controversy does raise some novel questions about the purpose of contributions. Hogg coming to a local campaign is likely to generate media attention for a candidate. He can also claim that he and his staff bring needed expertise and advice to novice or young candidates. That could be their interpretation of the promise to “basically coach you and hold your hand to get there.” Critics are focused on the pitch to “supply you with all of the resources that you need.”

          The group is only the latest political or business effort launched by Hogg, who previously tried to start a “progressive pillow company” before stepping away from the enterprise.

          Tyler Durden
          Tue, 04/09/2024 – 19:00

        • What Do They Know: Goldman, Amex Quietly Cut Rates On Savings Accounts… Is The Fed Next?
          What Do They Know: Goldman, Amex Quietly Cut Rates On Savings Accounts… Is The Fed Next?

          It is not a secret that the biggest market debate of 2024 is when – and even if – the Fed will cut rates: after all, with the US labor force adding hundreds of thousands of illegal immigrants, and core CPI bubbling along at a blistering hot ~4% pace, many – such as Larry Sanders and even Neel Kashkari – are warning that the Fed does not need to cut rates (in fact, a rate hike may be prudent). On the other hand, we have a growing roster of Democrat politicians (most notably Senator Elizabeth “Pokarenhontas” Warren) demanding Powell cuts rates to “help address the affordable housing crisis” and also reduce the record high credit card APRs for their voters.

          It’s not just the politicians: the dovish Fed itself in its latest dot plot indicated that it still expects to cut rates 3 times in 2024, a schedule which – when accounting for the November elections – would mean the Fed has to start cutting in June if it wishes to avoid delaying the start of the easing cycle and also avoid the impression that it is hoping to influence the outcome of the presidential elections (much to the chagrin of Bill Dudley who wrote a 2019 op-ed demanding Powell do just that).

          Yet even as the market has recently taken a machete to its own dovish expectations, and after pricing in more than 6 rate cuts in 2024 at the start of the year, has since trimmed its forecast to less than 3 full cuts…

          … or even fewer than the Fed has telegraphed…

          … suggesting that the market is convinced that the Fed is wrong, the economy will run hotter than expected, and Powell will be forced to delay, or even scrap, the easing cycle.

          But maybe not, because while signs mounts – especially in the realm of higher commodity prices – that a June cut is a pipe dream, some financial institutions are aggressively taking matters into their own hands: consider that in the last week, not one but two financial giants, have quietly cut the interest rate they pay on their “high yield” savings accounts, a step that usually takes place just around the time they are dead certain the Fed will cut rates or right after.

          We are talking about Goldman and American Express: starting with the former, last Wednesday, Goldman’s consumer bank Marcus lowered the rate on its high-yield savings account for the first time in more than three years, trimming the APR on the bank’s flagship product to 4.4%, down from 4.5% in March. It was the first cut since November 2020, when Goldman lowered the rate from 0.6% to 0.5%.

          “Our current rate places us ahead of the majority of our peers,” a Goldman spokesperson told Bloomberg in an email when asked to explain the rate cut. “We will continue to focus on providing value to our customers and growing our Marcus deposits business which is a priority for the firm.”

          Well, you can only keep growing deposits if the rate cut does not lead to deposit outflows… which can only happen if Goldman knows that everyone else is also about to cut rates, following in the footsteps of the Fed

          And then moments ago, doubling down on the clear dovish trend that is suddenly sweeping banks for “reasons unknown”, American Express did the same, when it cut the rate on its High Yield Savings Account to 4.30% from 4.35%.

          Or maybe the cuts are not for “reasons unknown”: maybe the banks realize that they can start cutting rates because soon everyone else will do the same for one simple reason: the Fed will fire the starting pistol to an easing cycle so many believe will start momentarily.

          As Bloomberg notes, the move signals that financial institutions are on alert for when they can lower interest rates for individuals, and the fact that not one but two of the biggest players in the game just did that, should be enough to raise a lot of eyebrows about the Fed’s rate cutting plans…

          Tyler Durden
          Tue, 04/09/2024 – 18:58

        • Over 500,000 Democratic Voters Have Cast Primary Protest Votes Against Biden
          Over 500,000 Democratic Voters Have Cast Primary Protest Votes Against Biden

          There are clear indicators that large swathes of prior Biden voters don’t intend to vote for him this next time around versus Trump. The latest example is that the “uncommitted” campaign is gaining steam, having garnered the support of more than a half-million Democrat voters.

          The initiative organized by dissident Democrats outraged over President Biden’s handling of the Israel-Gaza war has sent a powerful shot across the bow of his presidential campaign, and the movement didn’t even exist at the start of the 2024 primary season. Yet The Nation says that so far in total 530,502 people have voted “uncommitted” or “uninstructed” where it’s available on the ballot.

          Anadolu/Getty Images

          The initiative was first implemented in the key swing state of Michigan, resulting in over 100,000 people there registering their vote as “uncommitted”. The state has a huge Arab and Muslim demographic.

          The Nation has documented that the movement is spreading fast, and it should be a huge worry for Biden campaign strategists: 

          The campaign has won enough votes to secure Democratic National Convention delegates from Minnesota (14), Hawaii (7), Michigan (2), and, according to local news reports, Washington (2). And notable levels of support for the effort in must-win battleground states such as Wisconsin signal that the president’s campaign cannot neglect the fact that a substantial portion of the base that must be mobilized this fall is crying out for the United States to back an immediate, permanent cease-fire in Gaza, where Israel’s assault has cost more than 33,000 lives.

          According to more from AntiWar.com, which has been closely following the movement:

          Last week, 48,091 votes were cast for “uninstructed” in the Wisconsin primary. The turnout far exceeded organizers’ expectations, as their goal was to secure 20,682, the margin of victory for Biden in Wisconsin for the 2020 election.

          The opposition to Biden was strongest in the area of Wisconsin where University of Wisconsin–Madison students reside, historically a Democratic stronghold. In that area, 30% of voters cast ballots for “uncommitted,” something Rep. Mark Pocan (D-WI) called “a big, f**king deal.”

          Meanwhile, there’s also been an intensifying divide among Democrats over whether to halt defense aid to Israel,  a debate which only intensified in the wake of the Israel Defense Forces (IDF) attack on the World Central Kitchen convoy in Gaza, which left seven international workers dead, including an American.

          https://platform.twitter.com/widgets.js

          This increased fragmentation of Biden’s base has been on display in recent days too, given former House Speaker Nancy Pelosi – still very influential among Dems – has publicly come out against Biden’s policy to continue arming Israel. The issue is entering the heart of the Democratic establishment, threatening unity.

          Axios reported that she “signed onto a call by progressive members of Congress for the U.S. to stop transferring weapons to Israel over a strike that killed seven aid workers in Gaza.”

          Tyler Durden
          Tue, 04/09/2024 – 18:40

        • Illegal Immigrant With 7 Deportations And 11 Arrests Charged With Murder
          Illegal Immigrant With 7 Deportations And 11 Arrests Charged With Murder

          Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

          An illegal immigrant who had been deported seven times and arrested 11 times was charged with aggravated murder after an unidentified body was found in Ohio, according to local authorities.

          A man in handcuffs in a file photo. (Philippe Huguen/AFP/Getty Images)

          Police found the body in Hamilton on Monday after responding to a 911 call. Investigators interviewed suspect Fermin Garcia-Gutierrez the following day.

          Butler County Sheriff’s Office stated that Mr. Garcia-Gutierrez, a 46-year-old Mexican national, was detained on an ICE holder and held in the Butler County Jail for weapon charges, aggravated murder, and drug possession.

          Butler County Sheriff Richard Jones said that Mr. Garcia-Gutierrez had previously been deported and arrested multiple times using seven different names and three different birth dates.

          “Who knows how many people this guy has been involved in and has killed? Here in the United States, in our jail, he’s had two or three weapons charges, he’s had domestic violence [charges] … driving while intoxicated.

          “We don’t know how many he’s killed in Mexico,” Mr. Jones said at a press conference.

          Mr. Jones also blamed the Biden administration for the surge in illegal crossings at the U.S.–Mexico border.

          “Our border is broken, and these individuals are the cause of it,” he said. “We’ve got to stop this border invasion, it’s killing us and its killing innocent people.”

          The Hamilton Police Department is continuing its investigation into the murder case, according to Butler County Sheriff’s Office.

          Border Patrol has encountered more than 7.6 million illegal immigrants trying to cross the border since President Joe Biden took office in January 2021.

          Former federal officials and experts have said in the past that there is a real possibility that hundreds of people on the FBI’s terrorist watchlist have slipped into the United States among the millions of other illegal immigrants over the past three years.

          Both FBI Director Christopher Wray and Border Patrol’s former chief, Rodney Scott, have been sounding the alarm about the state of U.S. borders amid an increasing number of known criminals and terror suspects being caught trying to enter the United States.

          Customs and Border Protection data show that in fiscal year 2023, which ended in October 2023, Border Patrol agents apprehended 172 people on the watchlist from along the southwest border. However, when all ports of entry are added, the total number rises to 736. Some illegal immigrants were also caught with explosives.

          U.S. Border Patrol Chief Jason Owens has previously called for stricter immigration policies to deter illegal immigrants from crossing the southern border with Mexico, including imposing jail time for violators.

          Mr. Owens also suggested reviewing the country’s asylum laws to ensure that only migrants with legitimate claims will be allowed to seek asylum in the United States. He thinks that if people know there will be a consequence for breaking the law and entering the country illegally, they’ll be less likely to do it.

          Stephen Katte contributed to this report.

          Tyler Durden
          Tue, 04/09/2024 – 18:20

        • Scandal Rocks Biden's Labor Dept For Lying About Sharing Non-Public Inflation Data With Secret Group Of Wall Street "Super Users"
          Scandal Rocks Biden’s Labor Dept For Lying About Sharing Non-Public Inflation Data With Secret Group Of Wall Street “Super Users”

          A little over a month ago, a scandal erupted among the (relatively small( group of economists who keep a close eye on the monthly inflation data reported by the Biden Department of Labor, when they learned that there is an even smaller, and much more exclusive group of economists called “super users” who get preferential treatment from the BLS, including wink-wink-nudge-nudge explanations of where the data may diverge from expectations. That was the case for the January CPI when as Bloomberg first reported, the BLS sent an email to a group of data “super users”, which “explained suggested a surge in a measure of rental inflation — which left analysts puzzled — was caused by an adjustment to how subcomponents of the index are weighted”:

          Once it became public knowledge that there was a super secret group of preferential “accounts” receiving economic data, immediately following the Bloomberg report, a recipient of the email said that BLS Statistics “tried to retract it and that they were told to disregard its contents.” Almost as if they were trying to hide it after the fact.

          In retrospect, it appears the BLS really did have something to hide, because in a follow up from both the NYT and Bloomberg, we now learn that an economist from the Bureau of Labor Statistics was corresponding on data related the monthly CPI print with major firms like JPMorgan and BlackRock, in what Bloomberg said “raised questions about equitable access to economic information.”

          Extending on the report from February, records requested by Bloomberg revealed that the unnamed BLS economist answered numerous inquiries about details within the CPI in recent months, mostly related to computations in key categories within shelter as well as used cars, according to

          The back and forth between the financial firms and the economist “who has been with the BLS for many years” was first reported by the New York Times;  as discussed previously, the government bureaucrat sent several emails to a broader group, which he called “my super users” in one of the emails obtained by Bloomberg. The BLS previously lied when it said it doesn’t maintain a list of “super users.”

          In mid-February, one user asked if they could be added to the “super user email list,” to which the BLS economist replied minutes later, “Yes I can add you to the list.” The move was an attempt by the lowly paid government worker to curry favor with his much better paid peers on the sell- and buyside so that he could, one day, trade the preferential data access for a cushier job in some hedge fund or Wall Street firm.

          As Bloomberg details, while the recipients’ names were redacted from the request, email signature details or disclosures from their employers were visible in some of the provided records. And in addition to BlackRock and JPMorgan, other banks, hedge funds and research firms — Brevan Howard, Millennium Capital Partners LLP, Citadel, Moore Capital Management, High Frequency Economics, Nomura Securities International and BNP Paribas — appeared in the exchanges and declined to comment. Pharo Management and Wolfe Research also came up in the emails but didn’t provide comment.

          Understandably, economists – at least those who were not important enough to be on the “super user” list – have been clamoring to find out more about these “super users” are after the BLS staffer addressed an email to those people in February, suggesting that a change to the weights of underlying data within a key measure of rental inflation was behind its surge in January’s CPI. As we reported at the time, the BLS told recipients to disregard its contents, and subsequently tried to clear the confusion with a notice on its website. The agency also said that the email was “a mistake.”

          But, as noted above, we now know that this was merely the latest lie by a Biden agency; and so this latest revelation “is likely to prompt a deeper look at the dissemination of economic information that has implications for how major assets trade as well as Federal Reserve policy.”

          The BLS encourages people to ask questions and makes its staff available to engage with the public, but they strive to create equal access to information for everyone, said Emily Liddel, associate commissioner for publications and special studies at the BLS. Clearly, granting access only to Wall Street giants is not quite the equitable treatment the agency’s woke DEI staffers envisioned.

          “Obviously this has been an embarrassment for the agency,” Liddel said. “The public puts a lot of trust in us to be fair, and our data providers put a lot of trust in us for the data to be secure. It’s our goal to repair that trust.”

          And while the BLS economist often pointed users to relevant links on the agency’s website, at least one case, he shared information that wasn’t publicly available at the time, related to the calculation for the used cars index within the CPI. Liddel said it is “still under review” whether the employee shared other nonpublic information, and that the issues appear to be isolated to this one staffer. He is not answering incoming user questions at this time, she said.

          * * *

          While it remains unclear who the economist is, the NYT reported that emails obtained through a Freedom of Information Act request show that the agency — or at least the economist who sent the original email, a longtime but relatively low-ranking employee — was in regular communication with data users in the finance industry, apparently including analysts at major hedge funds. And they suggest that there was a list of super users, contrary to the agency’s denials.

          At the time, the Bureau of Labor Statistics said the email had been an isolated “mistake” and denied that it maintained a list of users who received special access to information.

          And while there is no evidence (yet) that the employee provided early access to coming statistical releases or directly shared other data that wasn’t available to the public, in several instances, the employee did engage in extended, one-on-one email exchanges with data users about how the inflation figures are put together. Such details, though highly technical, can be of significant interest to forecasters, who compete to predict inflation figures to hundredths of a percentage point. Those estimates, in turn, are used by investors making bets on the huge batches of securities that are tied to inflation or interest rates.

          Analysts regularly interact with government economists to make sure that they understand the data, but “when such access can move markets, the process for that access needs to be transparent,” said Jeff Hauser, executive director of the Revolving Door Project in Washington. “This stuff is so valuable, and then someone just emails it out.”

          In at least one case, emails to super users appear to have shared methodological details that were not yet public. On Jan. 31, the employee sent an email to his super users describing coming changes to the way the agency calculates used car prices, at the time a crucial issue for inflation watchers. The email included a three-page document providing detailed answers to questions about the change, and a spreadsheet showing how they would affect calculations.

          “Thank you all for your very difficult, challenging and thoughtful questions,” the email said. “It is your questions that help us flesh out all the potential problems.”

          The Bureau of Labor Statistics announced the change in a news release in early January, but did not publish details about it on its website until mid-February, two weeks after the email from the employee.

          It isn’t clear when the employee began providing information to super users, or whether he was the only economist at the agency to do so. Several of his emails were also sent to an internal Bureau of Labor Statistics email alias, suggesting that he did not believe his actions to be inappropriate… or he was simply an idiot.

          The super users issue came to light in February, when the employee emailed the group saying that he had identified a technical change that explained an unexpected divergence between rental and homeownership costs in a recent data release. “All of you searching for the source of the divergence have found it,” he wrote.

          About an hour and a half after that email went out, a follow-up told recipients to disregard it. In a subsequent online presentation, Bureau of Labor Statistics economists presented evidence that the change identified in the employee’s email was not, in fact, the source of the divergence.

          Tyler Durden
          Tue, 04/09/2024 – 18:00

        • Who Should Compete In Women's Sports?
          Who Should Compete In Women’s Sports?

          Authored by Charles Lipson via RealClear Politics,

          “What is a woman?” “Can a man get pregnant?” Questions like those are frequently raised at Senate hearings for progressive nominees to the federal bench or Cabinet positions. Republicans pose them for a reason. They know the witnesses will fumble the answers.

          Some try to wriggle out with circumlocutions, offering only convoluted mumbling. That works brilliantly for French academic articles but not so well for U.S. Senate hearings. Other witnesses, mostly judicial nominees, claim they cannot answer because the questions might come before them in future cases. They breathe a sigh of relief since their real motto is “Loose lips sink ships.”

          Often, Republicans discover the witnesses have already proclaimed their views in opinion pieces, social media posts, or academic articles when they were appealing to like-minded audiences on the left. When the audience is more skeptical, however, they are less eager to repeat those answers or to defend them.

          Progressive witnesses may not have answers, but ordinary voters certainly do. They tell pollsters that men cannot get pregnant. Shocking, I know. They think it is ludicrous to place tampons in men’s bathrooms, which some universities and elite high schools do now.

          The question of “who is a woman?” is more vexed. The reason is that common sense and cultural tradition point in one direction (“he was born a male and that’s what he is”) but those are opposed by another tradition: our respect for human autonomy. The Western values of human autonomy and deference for individual choices mean we normally acknowledge an adult’s self-identification. (Here is a hard question, though. If my autonomy is to be respected on issues of self-identification, why can’t I simply identify myself as an African American or Native American, even if there is no DNA evidence of that identity? Why shouldn’t that be my choice, just like gender? Yet self-identification as a racial minority without that bloodline is fiercely condemned as a malicious fraud. Just ask Elizabeth Warren, Rachel Dolezal, or Ward Churchill.)

          These issues are far from settled politically. If an adult male identifies as a woman, many people say, “So be it. Live and let live.” Others are more dubious. Still others reject it outright.

          What most people agree on, finally, is that children should not be subjected to irreversible biological procedures or medications. That’s child abuse. It took U.S. hospitals several years to reach that conclusion and end those profitable operations, probably because their lawyers pushed them to stop. In years to come, you can expect lawsuits by adults who will claim they were mutilated as children when they were too young to give informed consent. They will say their parents, doctors, and hospitals should be held liable for the damage they caused. Dial 1-800….

          Some of these issues were on the table again this week in Wisconsin. The state legislature in Madison passed a law protecting biological women (the fashionable term is “cis-women”) from competing against transgender women in sports. The governor, a progressive Democrat, promptly vetoed the bill.

          Why he exercised that veto is an interesting question. It’s certainly not because there are many transgender voters, even if we include their supportive families and friends. The real reason is that the issue has been folded into the gaping ideological divide between progressive Democrats and conservative Republicans. The governor did not want to risk being caught on the wrong side of that fault line, alienated from his political base. He may also believe, quite sincerely, that the veto was the ethical thing to do.  It’s always hard to separate a politician’s ethical principles, if there are any, from hard-nosed calculations.

          Feminists are a vital part of the progressive base in every state, including Wisconsin. What’s so striking here – amazing, really – is how silent most feminists have been about transgender competition in women’s sports. Although a few have spoken out, nearly all have remained silent, probably because they do not want to be excoriated for their views or outflanked by those claiming to be more progressive.

          Note that the issue here is not whether a biological male who now identifies as a woman can compete in sports. Of course she can. The issue is whether she (formerly a “he”) should be allowed to compete against biological women.

          There are really two basic questions at play. One is whether the inclusion of transgender women poses any physical danger to biological women. In contact sports, it might. Indeed, some injuries have already occurred.

          The larger, more profound issue is whether this competition would be fundamentally unfair. That ethical standard applies to any sport where strength and body composition matter, even if there is no threat of injury.

          Take golf.

          The easiest way to think about transgender women in sports is to ask yourself, “Should all golfers, both men and women, be grouped together in the same tournaments, competing on equal terms?”

          Put differently, should there be women’s golf tournaments at all? If the answer is “Yes, there should be a separate competition for women,” then ask yourself why? Surely that’s because men can hit the ball much farther, putting women at a severe disadvantage. If that’s the reason, doesn’t it apply equally to transgender women, who can hit the ball much farther than biological women?

          This difference in physical strength matters in many sports, from swimming to weight-lifting, from bowling to track and field. Currently, there are single-gender tournaments in all of them. That includes every Olympic event except one equestrian competition. But why continue this sex segregation? If you think transgender women should compete against other women in those sports, despite their marked differences in strength, what is your rationale for any single-gender competition?

          And what is your rationale for prohibiting testosterone supplements for biological females? Allowing them would actually level the playing field since transgender women already have that male hormone.

          These arguments are not meant to degrade transgender men or women. They are not about respect for them as persons. They do not imply, for instance, that adults shouldn’t be able to identify as a gender different from their biological sex at birth.

          Respect for individuals and their self-identification is not the point here. The point is to call out unfair competition, condemn it, and stop it. That can happen only if people slip off their ideological blinders, at least for a moment, and face the issue squarely. Honestly.

          Charles Lipson is the Peter B. Ritzma Professor of Political Science Emeritus at the University of Chicago, where he founded the Program on International Politics, Economics, and Security. He can be reached at charles.lipson@gmail.com.

          Tyler Durden
          Tue, 04/09/2024 – 17:40

        Digest powered by RSS Digest

        Apr 09

        Today’s News 9th April 2024

        • "We Cannot Cope": Police Scotland Deluged With Politicized Hate-Crime Reports
          “We Cannot Cope”: Police Scotland Deluged With Politicized Hate-Crime Reports

          Authored by Paul Joseph Watson via Modernity.news,

          Entirely as predicted, Police Scotland has been deluged with vexatious and politically-driven ‘hate crime’ reports, with one top official complaining “we cannot cope.”

          Didn’t see this one coming.

          Under the new legislation, anyone deemed to have been verbally ‘abusive’, in person or online, to a transgender person, including “insulting” them could be hit with a prison sentence of up to seven years.

          That instantly led to a flood of bad faith reports, including from conservatives making a mockery of the system and from deranged left-wing activists trying to punish their ideological adversaries.

          David Threadgold, Chairman of the Scottish Police Federation, said that the new legislation was being exploited to pursue personal and political vendettas.

          “Police Scotland have gone public and said that on every occasion, reports of hate crime will be investigated,” Mr. Threadgold told the BBC. “That creates a situation where we simply cannot cope at the moment.”

          “When you have vexatious complaints, people who look to weaponise this legislation or who make these complaints for personal gain or political point scoring, then that creates a problem for the police which can affect public satisfaction in my organisation,” he added.

          As we previously highlighted, Police Scotland admitted that the new law could create “additional demand” and create a “resource implication” for police.

          This followed a trial of a separate program set to be implemented across the country to stop investigating crimes like theft and criminal damage, which authorities acknowledge will help criminals.

          As we reported yesterday, out of the more than 8000 reports police have received under the new ‘hate crime’ law, less than one per cent are leading to investigations.

          Police Scotland are having to pay officers in their control room “hundreds of thousands” in overtime to deal with the onslaught of frivolous reports.

          However, that’s still nearly 800 new investigations in a single week for a police force that already has stretched resources.

          It’s been a complete disaster, but they can’t say nobody warned them.

          *  *  *

          Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

          Tyler Durden
          Tue, 04/09/2024 – 02:00

        • NetZero And Human Rights Are Mutually Exclusive
          NetZero And Human Rights Are Mutually Exclusive

          Authored by Mark Jeftovic via BombThrower.com,

          (Featuring: The Three Big Lies of “Climate Action”)

          Everybody talks a good game when asked about environmental concerns. But they underestimate what real “climate action” will cost them, personally, and they’re prone to balking when they figure it out.

          In 2018, The Energy Policy Institute at the University of Chicago conducted a survey of 1,202 people asking them if they thought climate change was an issue, and if so, how much were they willing to contribute, out of their own pockets, towards “fixing it”:

          • 71% of the respondents said that climate change was a reality, and most of those thought human activity was largely responsible for it.

          • 57% said they’d be willing to spend $1/month, or $12 annually.

          • 23% were willing to go big: $40 a month, in order to “fix” climate change.

          A more recent study of ten European countries in 2021 found that most people feel as though they are already doing their part to live a climate conscious lifestyle – and further – they are individually doing more than those in the media, or their governments (hold that thought).

          In other words, while most respondents believed that there was an impending climate crisis, they also believe they had already made all the personal lifestyle adjustments they’ll need to make in order to address it.

          These attitudes are pretty typical of a populace who has already undergone massive conditioning by the media and academia around climate alarmism, but who otherwise live largely insular, bubble-wrapped lifestyles and think food comes from Uber Eats.

          They have no idea that  that climate targets, like “netzero” or Agenda 2030 will cost more them more than a few hundred bucks a year, per person, to “fix”.

          Even with carbon taxes becoming more prevalent – citizens think the extent of the impact on their lives are the economic pressures of them inexorably rising (here in Canada, the carbon tax went up 23% on April 1st, the same day all federal Members of Parliament got a pay raise).

          That’s bad enough – but people are still completely unprepared for what has already been decided from on high for their personal destinies:

          Climate Action requires a complete re-ordering of society and civilization itself.

          “De-carbonization” requires “#degrowth”, a euphemistic hashtag that really means forced austerity on all of humanity – save for those apparatchiks imposing it on the rest of us.

          The Big Lie of climate alarmism is threefold:

          1. That the climate goals of netzero and decarbonization can boost the economy and increase prosperity for all

          2. That achieving said goals will afford us control over the climate and alter the planetary physics of the earth itself

          3. That this is all “settled science”

          Let’s look at each of these in order:

          Big Lie #1: Pursuing Netzero will boost prosperity

          Many politicians like to gaslight us that there is a way achieve netzero targets in an economically beneficial manner. A good example, again here in Canada – is the carbon tax.

          Everybody pays the carbon tax – on gas, on flights, on heating their homes, etc. Most households get a “carbon tax rebate” – which is invariably, for less money than they have paid in carbon taxes. This is borne out in countless analyses on this, including the government’s own Parliamentary Budget Office report, which found that:

          “most households will experience a net loss of income from the federal carbon tax, even after rebates.

          Specifically, in fiscal year 2024-25, 60 per cent of households in Alberta, Ontario, Saskatchewan, Newfoundland and Labrador, Nova Scotia, Prince Edward Island and Manitoba will pay more in carbon taxes than what they receive in rebates, after accounting for both direct and indirect costs of the carbon tax. By 2030, 80 per cent of households in Alberta, Ontario, Manitoba, Nova Scotia and P.E.I. will be worse off, as will 60 per cent of households in Saskatchewan and Newfoundland and Labrador.

          Indeed, according to the PBO estimates, the carbon tax will cost the average Canadian household between $377 and $911 in 2024-25—even after rebates, with Albertans being the most affected. As the carbon tax escalates annually, the financial burden will intensify. By 2030, the carbon tax’s average net cost for Canadian households will rise to $1,490 in Manitoba, $1,723 in Saskatchewan, $1,820 in Ontario and $2,773 in Alberta.”
          — Via Fraser Institute

          Yet the Trudeau government frames the rebate as “free money” for Canadians, and demonizes anybody who wants to “Axe The Tax” as though they are trying to take money away from taxpayers.

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          If decarbonization was economically viable, then it would be happening on its own, without governments and the corporate media relentlessly brainwashing us to do it.

          For example, we would probably have mini-nuclear reactors all over the place by now if private industry was given some latitude to implement it.

          Instead we have millions of hectares of wind turbines that are only “green” if you can amortize the carbon inputs over 30 or 40 years. Alas, the typical wind turbine is cooked within a decade (that’s if they don’t explode first). Apparently they can’t be recycled, either. It’s actually making the situation worse.

          Big Lie #2: Achieving Netzero will enable us to control the planet’s climate

          There has perhaps never been a more grandiose and categorically impossible vision for humanity than the one where technocrats and experts can massage the trajectory of global climate through the judicious employment of carbon taxes, personal carbon footprint quotas and forced collectivism.

          On the planetary level – it makes no difference if a country like Canada decarbonized 100% – compared to the emissions of China alone. Right now they’re lighting up two new coal fired plants every week. Wake me up when they decarbonize.

          Not to mention numerous other countries who have no intention of foregoing their shot at economic prosperity at the behest of already an affluent (not to mention overly sanctimonious), West…

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          The discrepancies in values and aims between nation states already makes the 100% conformity that climate action requires a non-starter.

          That doesn’t even account for things we absolutely can’t control like the solar system itself.

          The best and brightest minds can’t even get interest rates right, nor “manage the economy” and that’s near 100% human driven. What are we supposed to do about the elephant in the room in terms of the single most relevant driver of climate cycles here on the planet: the sun?

          Our sun outputs an estimated 6 billion times more energy per second than all of humanity generates and consumes in an entire year. It is the likeliest candidate for what drives long term heating and cooling cycles, not only here on earth – but throughout the entire solar system.

          Granted – that energy radiates in all directions – if you only count all the energy that actually hits earth, that number drops: to 100 million times annual energy usage, per second.

          Source: NASA

          No amount of carbon taxes or collectivism is going to overpower that.

          Big Lie #3: The Science Is Settled™

          Decades of propaganda and operant conditioning has browbeat the public into believing, or at least not arguing, that “the science is settled” when it comes to climate. One of the most well worn tropes around this is “97% of climate scientists agree” that “humans are causing global warming”.

          Marc Morano’s, ‘The Politically Incorrect Guide To Climate Change’, (essential reading) years ago exposed the origin of that magical number, “97%”:

          In 2013, Australian researcher John Cook analyzed 11,944 peer-reviewed papers on climate change, from which the famous, mystical 97% figure emerged. It later came out (via UN lead author Richard Tol), that of those papers, 66.4% expressed “no opinion at all” on human-caused global warming. Those were eliminated. 

          The minority of papers that were left, and did express an opinion, were mostly on the same page, and Cook took his 97% from that.

          What is actually true, however, from the study’s own numbers, is this:

          • 11,944 papers were analyzed

          • 7,930 of them expressed no opinion on AGW (66.4%)

          • 97% of the remaining 4,013 papers did

          So it turns out that 97% of climate scientists do not agree that humans are causing global warming. It was more like 32.5% (97% of 33.6% of 11,944).

          Doesn’t have the same punch, does it?

          Of course, since then, 97% became Holy Canon. So much so that any climate scientists who knew what side of the bread the butter was on, got the message loud and clear: your academic career depends on aligning with the consensus.

          So called “climate deniers” are continually deplatformed and countervailing data suppressed. This may be changing, again owing to widespread disenfranchisement with how the “experts” managed the pandemic, the public seems to be more questioning.

          The recent Climate The Movie: The Cold Truth has gone viral – and in it we see how the machinations of Big Climate may be driven more by junk science and hidden agendas than an altruistic desire to protect the environment.

          So it’s no surprise then, that the climate alarmists are turning out in full force to have it suppressed:

          https://platform.twitter.com/widgets.js

          Fortunately, the genie is out of the bottle now – Climate The Movie is being circulated far and wide, even having been uploaded to the decentralized InterPlanetary File System

          After the botched policy responses to Covid, when it comes to climate,  the public increasingly isn’t buying it.  We’ll see this in action when the Canada’s Liberals, who have clearly gone “all in” on climate, lose the next election. I’ve been predicting a 1993-style blowout (when Bryan Mulroney’s deeply loathed Conservatives lost all but three seats, including their party status).

          However, the public seemingly possesses but a single lever to resist all this: the ability to vote out politicians hellbent on impoverishing them.

          But if the rabble continues in its propensity to vote the “wrong way”, how much longer will they be permitted to do so?

          As we’ll see below – this lever will have to be rescinded, because otherwise the world will end.

          Which is why the only forward course of action is political, economic and cultural tyranny.

          If the plebs won’t voluntarily accept climate action – it will have to be forced on them.

          The unpleasant truth is – if policy makers are serious about achieving netzero, it will require a massive policy of degrowth that will impoverish the masses and demolish the economy – none of which is conducive to being re-elected.

          Which means: if world governments are serious about climate action, they will have to impose a totalitarian dictatorship to achieve it.

          This has already been understood and internalized by the mainstream corporate media – after experiencing the destruction of their monopoly on “news” at the hands of the internet – have aggressively pivoted into a new business model: that of being propagandists for eco-Marxism.

          Academia is right there alongside, putting out research papers to enshrine climate collectivism into the public discourse, and freeze out any dissenters.

          In “Political Legitimacy, Authoritarianism, and Climate Change”, Ross Mittiga, a professor of Political Theory at the Catholic University of Chile (and Democratic Socialist) argues that political aspirants should not even be permitted to seek office unless they pass a “climate litmus test”;

          “Governments might also justifiably limit certain democratic institutions and processes to the extent these bear on the promulgation or implementation of environmental policy. This could involve imposing a climate litmus-test on those who seek public office, disqualifying anyone who has significant (relational or financial) ties to climate-harming industries or a history of climate denialism.”

          “More strongly, governments may establish institutions capable of overturning previous democratic decisions (expressed, for example, in popu- lar referenda or plebiscites) against the implementation of carbon taxes or other necessary climate policies.”

          In a 2023 piece via BBC’s “Future World”, the prospect of climate change and action around it was deemed “too important to be left to personal choice”, which laments,

          ”what do truly low-carbon lifestyles look like – and can they really be achieved by personal choice alone?“

          Future Labs – also out of the UK – put out a paper on the future of travel last year, that predicted mandatory “carbon passports” that would limit one’s travel based on their C02 footprint:

          A personal carbon emissions limit will become the new normal…

          These allowances will manifest as passports that force people to ration their carbon in line with the global carbon budget…

          By 2040, we can expect to see limitations imposed on the amount of travel that is permitted each year.

          Experts suggest that individuals should currently limit their carbon emissions to 2.3 tonnes each year

          This last line is important – because it puts a number to how far down the rabble is expected to ratchet down their living standards: it’s about one quarter of what the typical G20 citizen emits today – by 2040, and “experts suggest” that gets cut again by half by 2050.

          In the carbon passports article I laid out a table showing by how much individuals in each country would have to ratchet down their output to meet the personal carbon allowances, set by unelected and unaccountable experts:

          Both politicians and their appointed apparatchiks are being more open about their ideologies and decidedly collectivist aims:

          In 2023 a federal report published by Health Canada openly advocated for the dismantling of capitalism itself, equating it with white supremacy and colonialism – attributing them all as core drivers of the climate crisis. Another term for “capitalism” is “free markets”.

          The report also advocated for collectivism and decried individualism as “one of the core values of society that has to change”:

          “The hopes expressed by participants encompassed such a vision of collectivism”

          “there are 3 core values in western society, and for that matter, in global society, that have to change. One core value is about growth and materialism. The second core value is liberty and individualism, which has to be rethought because the kind of individualism that is preached by neoliberals is part of the problem. It advances the individual over the collective… it leads to a huge number of problems, and it undermines the collective process”

          “If we don’t address capitalism, if we don’t address colonialism, racism, the patriarchy, et cetera, we’re going to tread water for a long time until we eventually drown …”

          As I remarked at the time: this was not a think piece or a screed from Vox or Jacobin Magazine – it was an official Canadian government report issued in the name of “His Majesty the King in Right of Canada, as represented by the Minister of Health, 2023”.

          Canadian politicians across all parties have been coalescing around climate authoritarianism for decades. In 2007, Canada’s Laurentian Elite met in Merrickville, Ontario to discuss how best to advance the climate agenda – and was later analyzed via a series of interviews with the participants who comprised a who’s who of Canadian dynastic wealth, corporate power, politics – and media.

          They transcended party boundaries: Former Prime Minister Joe Clark, Justin Trudeau bagman Stephen Bronfman, Patrick Daniel (Enbridge), Stéphane Dion, former Quebec premiere Pierre Marc Johnson, WE Charity co-founder Mark Kielburger, the list goes on.

          From the “strictly confidential” briefings which are openly linked from this UCLA professor’s web page we learn how Canada’s elite ruminated about the lack of action on climate change, and how untenable the required societal mobilization would be in a democracy:

          “It is impossible to have real conservation in a democracy! What is needed is a benevolent dictator—globally, and in Canada.”

          During the proceedings…

          “…many speakers express a longing for an authoritative decision process that somehow takes the issue out of the political arena. Some express this as the need for a “benign dictator;”

          Today we have Canadian Members of Parliament attempting to advance legislation that would imprison people for speaking in favour of fossil fuels.

          This move toward climate authoritarianism is spreading throughout the neoLiberal world order – most recently in Germany a “Climate Justice” report by the German Ethics Council concluded that “restricting freedoms may be necessary to fight climate change”.

          The original is in german, although there is an english summary here, I had the full PDF run through DeepL and is here.

          From the summary, we do get the juicy bits:

          “Responsibility presupposes freedom, and freedom includes responsibility. This principle also applies for climate change; it is crucial for our free and democratic society and safeguarded and guaranteed by law. Social coexistence requires mutual restrictions of freedom, in order to provide equitable freedom for all.“

          “The inner and rationally guided realisation of the necessity for action leads to self-commitment as an expression of one’s individual freedom. This may imply that people question their former lifestyle or adapt their behaviour, for example by voluntarily abandoning certain vacation, consumption or mobility practices.”

          And the Orwell Award goes to:

          “On grounds of justice, it can be morally required to contribute to measures to tackle climate change. If one’s own exercise of freedom interferes in an unjust manner with the freedom and welfare of others or of future generations, for example through consumption that is harmful to the climate, the authorities may intervene with restrictions of freedom.

          As long as there is no regulatory obligation, it is left up to the individual to accept a moral obligation to co-operate.”

          This would be a good place to ask yourself: what do you think the relentless attacks on Bitcoin’s Proof of Work mining has really been about? It isn’t to save the environment from Bitcoin’s electricity consumption – it’s to create the pretext for asserting authority over all energy usage.

          We could probably even riff out one of those Martin Niemöller “First They Came For…” poetic reboots:

          “First they came for the Bitcoin miners (but I didn’t care because I was a no-coiner)…” (or one of those PoS retards).

          “Then they came for…” yada yada yada – guess how it ends?

          “Then they came for me, because of my heated bathroom floors”

          There’s only one other problem with all this…

          #Degrowth For Thee, But Not For Me

          It’s not bad enough that your consumption choices are being decided for you by unelected technocrats informed by garbage computer models predicting an unfalsifiable eco-Eschaton.

          What’s worse is that while you’re personal standard of living is going to be attenuated, metered, capped and regulated (this is what the coming CBDCs are all about) – the apparatchiks, functionaries and career politicians who force this on you will not ratchet back their own consumption patterns, not at all.

          When I reported on COP26’s takeaways (basically, they’re coming after your meat consumption), what stood out the most was the hypocrisy of a strategic objective emerging from an elite conclave that was arrived at almost exclusively by private jet, and whose culinary menu contained some of the most carbon heavy delicacies available. High grade Scottish haggis and venison were served,  soy protein and bugs were not.

          This is the rule, not the exception. Canada’s environment minister, who doesn’t mince words that “fighting climate change is about limiting your energy usage”:

          https://platform.twitter.com/widgets.js

          But has no qualms around spending millions of dollars flying his entourage out to COP28 and staying in a $2,000/night luxury hotel suite.

          https://platform.twitter.com/widgets.js

          Never forget this: whenever you hear politicians, “experts”, policy wonks and especially celebrities talking about the need to dial back consumption, energy usage, travel, meat consumption and even owning pets in order to “Save The World” they aren’t talking about their own lifestyles. They’re talking about yours.

          The Public Has Had Enough

          Earlier I mentioned how there’s basically one lever the public can use to skate eco-authoritarianism into the boards, and that’s the electoral process – which is why we wonder out loud how long those will be allowed to continue.

          Here’s Klaus Schwab navel gazing with Sergei Brin about how Big Tech and algorithms will make elections unnecessary, “because the algos will already know who is going to win” (he poses this hypothetical about a minute after he says “in ten years we’ll all be sitting here with our brain implants”)

          Back here in reality: Canada’s left-wing coalition will be ejected from power in the next election, that’s pretty well a forgone conclusion.

          The US would be headed in that direction, provided the election in November actually takes place and isn’t rigged. The stakes are so high there, it’s hard to know what will happen. I once said that Donald Trump would be the penultimate President of the United States as we know them. Meaning, whoever came after him, would be the last President of a United States. We’ll see.

          The public sentiment is overwhelmingly done with climate alarmism, wokeness, and cultural Marxism in general. The question now is, will this backlash and turning point be allowed to express itself peacefully and democratically? Or will it end up unleashing a more forceful backlash?

          This is all part of the war between centralization and decentralization, which I’ve always said is, and will be, the defining tension of our era. This will transcend left vs. right, conservative vs. liberal.

          The battle now is between people who want to decide things for everybody else, vs. people who want control over their own lives.

          The Most Important Thing You Can Do

          First – you have to help dismantle the norm that it is somehow unacceptable or immoral to reject the prevailing climate alarmism.

          When Karen the co-worker goes off on a sermon in  the lunchroom that “Pierre Poilievre has no climate action plan”, instead of internally smirking and looking forward to the next election, you have to speak up, right there and then, “Yes, that’s why everybody is going to vote for him, including me”.

          This is important because, as we saw under COVID, the tyrannical regimens continued as long as normal people were afraid to speak their minds.

          Nobody liked being arbitrarily divided into “essential” and “non-essential” workers and businesses.

          Nobody liked wearing masks, sticking PCR tests up their noses or standing on the fucking dots. But everybody did it, because the first two doctors who spoke up about how stupid it all was, had their careers destroyed – and that set the trend for the next two years.

          It was the forced vaccinations that finally put the public over the edge, and it took a near uprising by the #FreedomConvoy to finally turn the tide and put an end to it.

          The coming Climate Authoritarianism will make COVID tyranny seem like a libertarian paradise.

          In today’s landscape of internet connected everything, big data, and now AI, and soon, monetary Apartheid via CBDCs, all the ingredients will be there for a technocratic authoritarianism that netzero and degrowth requires.

          Your job isn’t to tell the government you aren’t on board with this: your job is to demonstrate to those around you that it’s ok not to be on board with it.

          That also means you will have to be able the weather the consequences of not being on board with it.

          My advice continues to be: strive for financial independence – if you have a job, start your own business on the side. If you already own a business, start, buy or invest in another one. Get yourself to the point where you can be fired, canceled, ridiculed and shunned and it not being the end of you.

          Of course, that also means, if you haven’t already, start stacking Bitcoin. It’s the one monetary asset no government, no bureaucrat and no supranational entity can ever take away from you, that gains purchasing power over time and is in general, The Big Short on clown world we’re heading into.

          *  *  *

          My next e-book The CBDC Survival Guide: Navigating Monetary Apartheid will be out soon (honest), sign up for The Bombthrower mailing list and I’ll let you know when it drops – and get a copy of the The Crypto Capitalist Manifesto in the meantime. 

          Follow me on Twitter or Nostr.

          Tyler Durden
          Mon, 04/08/2024 – 23:40

        • Insurers Spy On Houses Via Aerial Imagery, Seeking Reasons To Cancel Coverage
          Insurers Spy On Houses Via Aerial Imagery, Seeking Reasons To Cancel Coverage

          Insurance companies across the country are using satellites, drones, manned airplanes and even high-altitude balloons to spy on properties they cover with homeowners policies — and using the findings to drop customers, often without giving any opportunity to address alleged shortcomings. 

          “We’ve seen a dramatic increase across the country in reports from consumers who’ve been dropped by their insurers on the basis of an aerial image,” United Policyholders executive director Amy Bach tell the Wall Street Journal. Reasons can range from shoddy roofing to yard clutter and undeclared trampolines.  

          Much of this surveillance is done via the Geospatial Insurance Consortium, which boasts of its coverage of 99% of the US population.

          The Geospatial Insurance Consortium provides imagery insurers use to study roof condition and look for risky property attributes (via GIC)

          In pitching its ability to provide high-resolution “imagery and insights” for property reviews, GIC says insurers can use the service to “review risk and exposure on a building such as proximity of vegetation to the structure, whether a roof needs updating, and verify the exact location for a policy.” 

          “If your roof is 20 years old and one hailstorm is going to take it off, you should pay more than somebody with a brand new roof,” Allstate CEO Tom Willson told the Journal, unapologetically and ominously adding that, where the company’s use of digital imagery is concerned, “there’s even more to come.” 

          Wilson framed aerial spying as a pricing issue, but many consumers are finding that companies are using it to suddenly drop their coverage altogether. 

          The Journal describes the experience of northern California resident Cindy Picos, who was dropped by CSAA Insurance last month, with the company saying aerial imagery revealed that her roof had aged beyond its life expectancy. She paid for an inspection of her own, which found the roof was good for another decade. CSAA wasn’t impressed, and said its decision was final. The firm also refused to share its photos, though it now says it’s changed that policy and will let customers see them — if they ask. 

          Another Californian, CJ Sveen, was dropped by AAA Homeowners Insurance after their reconnaissance discovered “clutter” in his yard. An indignant Sveen told ABC7 that he uses his yard as a workshop “Apparently they have some pictures and they noticed clutter. I find that offensive. How dare you judge me because of my stuff!”

          In AAA’s defense, clutter isn’t just about aesthetics. It could present a fire hazard, attract rodents that harm the structure, present a physical danger to visitors, and obstruct firefighters’ ability to quickly contain a fire at the premises. 

          Would you cover this house? CJ Sveen’s homeowners policy was cancelled after aerial imagery captured clutter in his yard

          Another California couple had their policy torn up by AAA after overhead photography found their swimming pool had been drained. The aging pair said they emptied it because their grandchildren had grown up and they no longer used it. Empty pools are prone to cracking for lack of counter-pressure from water; they can also “float” up from the earth, creating hazardous conditions. 

          Former Michigan Farmers Insurance agent Nichole Brink told the Journal she quit the company last year over her concern that it was aggressively using aerial imagery to chase off customers, and even using shots that were two or three years old. “It’s like they’re using anything as an excuse to get people off their books,” she said. Farmers says it gives policyholders at least 60 days to challenge the company’s findings or remedy shortcomings.

          It’s probably no coincidence that Californians are frequently targeted for non-renewal via overhead spy technology. Insurers are aggressively paring back their business in the state, as the state’s thicket of regulations has blocked insurers’ ability to adequately charge for coverage in a state cursed by wildfires and earthquakes.  

          Last year, for example, State Farm said it would no longer issue new homeowners policies in the Golden State. The, in March, the company took the more draconian step of opting not to renew 72,000 property and commercial apartment policies. AIG bailed on the state in 2022. 

          Tyler Durden
          Mon, 04/08/2024 – 23:20

        • Lara Trump: RNC Focused Like A Laser On Election Integrity
          Lara Trump: RNC Focused Like A Laser On Election Integrity

          Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

          Republican National Committee (RNC) co-chair Lara Trump said Sunday that election integrity is a top priority in the upcoming November election and the committee is focused on it “like a laser.”

          Lara Trump speaks during the Conservative Political Action Conference in National Harbor, Md., on Feb. 28, 2020. (Samuel Corum/Getty Images)

          During an interview with Fox News’ “Sunday Morning Futures” on April 7, Ms. Trump said that the committee will dedicate all of its resources to its Election Integrity Division “as needed.”

          “When you talk about election integrity, it is vital. It is the number one thing that we are focused on, aside from getting out the vote, which, of course, Donald Trump himself will do for us,” Ms. Trump said.

          “We are making sure that we leave nothing to chance because we have to understand the importance of this election,” she added.

          Former President Donald Trump raked in a massive $50.5 million in funds for his reelection bid on Saturday. With this funding, Ms. Trump, the daughter-in-law of President Trump, said the RNC can now afford to ensure that poll workers are trained and lawyers are present in every voting precinct.

          “Prior to last night, the largest single event fundraiser in politics ever was the one that Joe Biden had. And he needed three presidents to haul in $26 million,” she said, referring to President Biden’s fundraiser in March, which included former presidents Barrack Obama and Bill Clinton.

          “We needed one man, Donald J. Trump, one president, to double that,” Ms. Trump added.

          Ms. Trump said that the outcome of this fundraiser event reflects a shift where “people are not sitting on the sidelines anymore.”

          “They understand what’s at stake. It’s a must-win election. And from the election integrity perspective, we’re focused on it like a laser at the RNC,” she added.

          https://platform.twitter.com/widgets.js

          Under a joint-fundraising agreement, funds from the fundraiser event will go to the Trump campaign, the former president’s Save America PAC, the RNC, and state GOP parties.

          RNC chair Michael Whatley, who was also present for the interview, said the committee will spend “every dollar” raised on two “critical core” missions: increasing voter turnout and protecting the ballot.

          Mr. Whatley said that the RNC is working with state legislatures, boards of elections, and secretaries of state to ensure the implementation of the rules of the road.

          The committee will file lawsuits if the rules are not adhered to, he said, adding that the RNC had filed over 80 lawsuits in 24 states “to make sure that we have the ground ready to go for safe elections.”

          The committee has also been recruiting and training thousands of observers and attorneys “to make sure that we are in the room” when a vote is cast and counted, Mr. Whatley said.

          Michael Whatley, speaks before former President Donald Trump’s arrival for a rally in Greensboro, N.C., on March 2, 2024. (Jonathan Drake/Reuters)

          “What we want are fair, accurate, secure, and transparent elections. And when we have it, then we’re going to protect the sanctity of that ballot. We’re going to make it easy to vote and hard to cheat,” he added.

          President Trump’s campaign’s fundraiser, dubbed the “Inaugural Leadership Dinner,” was held in hedge fund billionaire John Paulson’s $110 million home in Palm Beach, Florida, on Saturday.

          Thie event is a much-needed boost for President Trump, who has been routinely outraised by President Biden amid a financial squeeze due to ballooning lawyer fees and legal payouts from his criminal and civil court cases.

          Mr. Paulson told The Epoch Times on Saturday that the event has now claimed the position of being the most successful political fundraiser in U.S. history.

          “This sold-out event has raised the most in a single political fundraiser in history. This overwhelming support demonstrates the enthusiasm for President Trump and his policies,” he remarked.

          Melanie Sun, Janice Hisle, and Reuter contributed to this report.

          Tyler Durden
          Mon, 04/08/2024 – 23:00

        • China Paid $250,000 To "Threat Actors" In Canada In 2018 And 2019
          China Paid $250,000 To “Threat Actors” In Canada In 2018 And 2019

          A new document given to Canada’s Foreign Interference Commission suggests that Chinese officials may have offered $250,000 to “threat actors” in 2018 and 2019, according to a new report from The Globe and Mail. 

          The Canadian Security Intelligence Service document on election interference said that prior to and during the 2019 election “a group of known and suspected People’s Republic of China related threat actors in Canada, including PRC officials, worked in loose coordination with one another to covertly advance PRC interests though Canadian democratic institutions.”

          “Some of these threat actors received financial support from the PRC,” and says “reporting indicated that 11 political candidates and 13 political staff members were assessed to be either implicated in or impacted by this group of threat actors,” the document says. 

          The report suggests the $250,000 from Chinese officials in Canada was likely for foreign interference rather than political donations.

          It describes the complex routing of these funds through various individuals to mask their origin, eventually reaching a staff member of a 2019 federal election candidate and an Ontario MPP, via an influential community leader, the Mail wrote.

          According to the document, the implicated candidates include seven Liberals and four Conservatives, with some knowingly participating in foreign interference activities, while others were oblivious due to the secretive nature of the operations.

          The federal government initiated the Foreign Interference Commission inquiry in September, led by Justice Marie-Josée Hogue, in response to reports by The Globe and Mail on Chinese interference in Canadian democracy.

          The inquiry, which took place on Thursday, featured testimonies from senior officials of CSIS, the RCMP, the Department of Global Affairs, and the Communications Security Establishment (CSE), Canada’s electronic intelligence agency.

          Dan Rogers, a former CSE official and now the deputy national security adviser, revealed the CSE had intelligence post-2021 election about alleged fund distributions, which was shared with the RCMP and CSIS, though specifics weren’t disclosed. RCMP Commissioner Michael Duheme stated that no criminal investigations into foreign interference were opened for the 2019 or 2021 elections, as no intelligence received warranted such actions.

          However, an investigation into foreign interference was launched following the last general election when Conservative MP Michael Chong reported being targeted by China.

          Too bad the Biden family doesn’t do business in Canada – the PRC probably could have gotten influence a lot easier that way, though it may have cost a bit more due to the need to support Hunter’s “lifestyle” and “social agenda”.

          Tyler Durden
          Mon, 04/08/2024 – 22:40

        • FDA Finally Takes Down Ivermectin Posts After Settlement
          FDA Finally Takes Down Ivermectin Posts After Settlement

          Authored by Zachary Stieber via The Epoch Times (emphasis ours),

          Social media posts urging people not to take ivermectin as a treatment for COVID-19 have been taken down by the U.S. Food and Drug Administration (FDA).

          The FDA removed posts from X (formerly Twitter), Facebook, Instagram, and LinkedIn that stated: “You are not a horse. You are not a cow. Seriously y’all. Stop it.”

          The posts had remained up even after the regulatory agency agreed to take them down as part of a settlement in a legal case brought by doctors who said the posts wrongly interfered with their practice of medicine.

          The March 21 settlement said the FDA would take down specific posts within 21 days. The posts were made in August 2021.

          The FDA has also deleted the following posts:

          • An Aug. 21, 2021, Instagram post that said: “You are not a horse. Stop it with the #ivermectin. It’s not authorized for treating #COVID.”

          • An April 26, 2022, Twitter post that said: “Hold your horses ya’ll. Ivermectin may be trending, but it still isn’t authorized or approved to treat COVID-19.”

          The posts directed people to an FDA webpage titled, “Why You Should Not Use Ivermectin to Treat or Prevent COVID-19.” The page itself acknowledged that the FDA has approved ivermectin for some uses but said “taking a drug for an unapproved use can be very dangerous” and “currently available data do not show ivermectin is effective against COVID-19.”

          The agency pointed to a database of clinical trials testing ivermectin against COVID-19; some of the trials showed the drug works against the illness.

          Doctors commonly prescribe FDA-approved drugs for a range of purposes, including some outside the scope of approval. The practice is known as off-label prescription.

          The FDA’s ivermectin posts gained tremendous traction across social media and news outlets, prompting internal excitement, emails obtained by The Epoch Times showed. Millions of people saw the posts. “That was great! Even I saw it!” Dr. Janet Woodcock, the agency’s acting commissioner at the time, said in one missive.

          The FDA has not alerted its followers on social media that it removed the posts.

          2022, celebrated the development.

          The case “sets an important legal precedent which should deter them from attempting this stunt again anytime soon,” she wrote on X. In another post, she said that “the terms we were asking for were met when we agreed to settle” and “we were not optimistic about what we would get in discovery.”

          But while the posts and page have been removed, the FDA has created a new page about ivermectin and COVID-19.

          Published on April 5, it states: “One of the U.S. Food and Drug Administration’s jobs is to carefully evaluate the scientific data on a drug to be sure that it is both safe and effective for a particular use. There continues to be interest in a drug called ivermectin for the prevention or treatment of COVID-19 in humans. The FDA has not authorized or approved ivermectin for use in preventing or treating COVID-19 in humans or animals.”

          The page repeats the statement that “the FDA has determined that currently available clinical trial data do not demonstrate that ivermectin is effective against COVID 19 in humans,” but lacks the link to the database showing mixed results from trials.

          The page also says that “health care professionals may choose to prescribe or use an approved human drug for an unapproved use when they judge that the unapproved use is medically appropriate for an individual patient.”

          An FDA spokesperson previously told The Epoch Times that the settlement was not an admission of a violation of law or any other wrongdoing.

          “FDA has not changed its position that currently available clinical trial data do not demonstrate that ivermectin is effective against COVID-19,“ the spokesperson said. ”The agency has not authorized or approved ivermectin for use in preventing or treating COVID-19.”

          Tyler Durden
          Mon, 04/08/2024 – 22:20

        • LA 'Mansion Tax' Is Yet Another Democrat Debacle
          LA ‘Mansion Tax’ Is Yet Another Democrat Debacle

          In November 2022, Los Angeles voters approved a so-called ‘mansion tax,’ which slaps a 4% sales tax on properties sold for over $5 million, and 5.5% for those over $10 million.

          The scheme (Measure ULA), put forward by Democrats, was projected to raise roughly $672 million in its first year, to be used for affordable housing.

          Not only did the plan fall short by hundreds of millions of dollars (raising just $215 million), the measure caused residential building construction to plummet, raising housing prices even further, the Washington Examiner writes, noting that the tax doesn’t just apply to large homes in Bel Air, “but also gas stations, commercial real estate, condominiums, and apartment complexes.”

          Los Angeles real estate brokers say the $5 million threshold means the new ULA tax will hit just about any apartment complex with over 15 housing units. This has discouraged lenders from offering mortgages on, and developers from building, the very multifamily projects the city needs more of to reduce housing costs. Since nearly two-thirds of homes in Los Angeles have asking prices of at least $1 million, working-class families must often rent multifamily homes to live in. CoStar analyst Ryan Patap noted that developers are further discouraged by the city’s “broader political shift in the city that’s more supportive of restrictions on landlords and more supportive of protections for tenants.”

          Around the state as a whole, multifamily housing has trended above the national average. Whereas new multifamily housing permit authorization fell nationally by nearly 19% from 2022 to 2023, California’s only decreased by 5%. But in Los Angeles County, authorizations dropped by 19%, and in LA city, they slumped by a staggering 24%. The mansion tax appears to be to blame. -Washington Examiner

          City officials are still slapping themselves on the back, bragging that $150 million from Measure ULA revenues have helped fund programs for short-term emergency rental assistance (for whom?), as well as tenant outreach and education, tenant protections, defense against evictions (squatter defense?), direct cash assistance for low-income seniors and people with disabilities.

          “The pace at which ULA is generating revenue, especially over the last quarter, is impressive,” reads a statement from Joan Ling, a real estate adviser and policy analyst in urban planning who is also the lead author of a report from UCLA, USC, and Occidental College recapping ULA’s first year.

          “ULA is enabling Los Angeles to finally meet the big structural challenges driving our housing crisis—like the skyrocketing costs of land and construction—so that we can build more homes more quickly.”

          That said, as the Examiner concludes:

          Supporters have bragged that the legislation has already funded $23 million on eviction protection and tenant outreach and $28 million on aid to distressed tenants and landlords, but neither of these programs do anything actually to lower rents for working families.

          The real protection Angeleno tenants need is from a Democratic Party that is constantly passing new regulations and higher taxes that make new home and apartment construction more expensive. Until Los Angeles voters start electing leaders whose motto is “Build baby build,” they can only expect their existing housing crisis to get worse.

          Indeed.

          Tyler Durden
          Mon, 04/08/2024 – 22:00

        • "This Is Crazy": Fetterman Tears Into 'Squatters Rights' Laws, Soft-On-Crime Policies
          “This Is Crazy”: Fetterman Tears Into ‘Squatters Rights’ Laws, Soft-On-Crime Policies

          Authored by Stephen Katte via The Epoch Times (emphasis ours),

          Sen. John Fetterman (D-Pa.) has blasted the idea of “squatter’s rights,” questioning the laws that allow interlopers on a property to claim ownership over its rightful owner, calling it a case of “just breaking the law.”

          U.S. Sen. John Fetterman (D-Pa.) walks toward the Senate Chambers in Washington, D.C., on March 23, 2024. (Nathan Howard/Getty Images)

          Squatter rights laws allow anyone illegally occupying another person’s property to claim ownership if they are not evicted after a certain amount of time. Also known as adverse possession laws, these laws are in effect in all 50 U.S. states but enforcement differs significantly.

          In an April 6 interview with The New York Post, Mr. Fetterman said he had extensive experience with these laws while he was mayor of Braddock in Pennsylvania. In some cases, they can come into effect after only 30 days of illegally occupying a building.

          “It’s wild that if you go away on a long trip, for 30 days, and someone breaks into your home and suddenly, they have rights,” he said.

          “This is crazy. Like if somebody stole your car, and then they held it for 30 days, then somehow you now have some rights?” he added.

          According to law experts who have spoken with The Epoch Times, police can’t help because it’s a civil matter. Under these laws, the only way to remove a squatter claiming ownership is through an eviction lawsuit, which can drag on for months or years because housing courts are severely backlogged at the moment.

          Squatter’s rights as they exist today can be traced back to the Homestead Act of 1862, which allowed settlers to claim land in the western United States under the agreement they would improve it and live on it for at least five years. Over time, the concept of squatter’s rights have expanded well beyond land claims.

          According to Mr. Fetterman, “Squatters have no rights,” and during his time as Mayor, he always tried to “push back against that.”

          Another expert speaking to The Epoch Times claimed illegal immigrants could further exacerbate the squatter rights issue, although he noted he had yet to see this transpire.

          Border Patrol has encountered more than 7.6 million illegal immigrants trying to cross the border since President Joe Biden took office in January 2021. Many have come seeking asylum and various jurisdictions around the country are struggling to keep up with the influx of people, stretching resources to their limits in some cases, such as in Texas, Arizona, and New York.

          Fetterman Says US Needs to Be Smart and Aggressive on Crime

          Soft crime policies are being blamed for the fatal shooting of NYPD Detective Jonathan Diller during a traffic stop in Queens last month. According to authorities, Guy Rivera, who was accused of the crime, has at least 21 prior arrests for drug and assault related offenses.

          Mr. Fetterman says he has no issue giving second chances to offenders who have made a mistake. But 20 chances is pushing it too far.

          “If you have those kinds of established records, it doesn’t serve any greater goal to allow people that are offending, offending, offending and allow them to not be held accountable,” he said.

          “If this individual is convicted, then he should spend the rest of his life in prison and never have an opportunity to get out,” he added.

          Tyler Durden
          Mon, 04/08/2024 – 21:40

        • Biden Scrambles To Buy Votes With New Taxpayer-Funded Student Debt Relief Scheme
          Biden Scrambles To Buy Votes With New Taxpayer-Funded Student Debt Relief Scheme

          After American borrowers adjusted their finances amid the mass-suspension of student loan payments during the pandemic (and the scorching inflation that followed), the Biden administration on Monday announced new student loan plans that would give borrowers up to $20,000 in loan forgiveness for balances that have grown due to unpaid interest since entering repayment, regardless of income.

          The plan is aimed at those with “runaway interest.”

          Those who qualify for the “SAVE IDR” (income-driven repayment) would have the full balance of their unpaid interest forgiven, which would benefit roughly 25 million Americans.

          What’s more, the administration is also looking to provide automatic debt relief for those who qualify under the SAVE plan, Public Service Loan Forgiveness program, and similar forgiveness programs which have hit red tape when it comes to relief.

          Lastly, the plan would give relief to those enrolled in low-financial-value education programs deemed insufficient by the Department of Education, as well as those experiencing hardship in paying back loans and who are at risk of default.

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          “The Biden-Harris Administration plans to release proposed rules on these plans over the coming months. If these plans are finalized as proposed, this fall the Administration would begin canceling up to $20,000 in interest for millions of borrowers and full loan forgiveness for millions more,” the administration said in a Monday statement.

          The administration said the White House estimates more than 30 million Americans would have benefited from loan forgiveness from the plans during the past three years.

          The administration is also emphasizing how its action will help Black and Latino borrowers and those who went to community college, who are more likely to struggle with student loan debt. –The Hill

          “These actions are expected to provide significant relief to Black and Latino borrowers, borrowers who attended community college, and borrowers who are financially vulnerable because they took out debt but never had the chance to complete their degree,” according to the administration.

          So the Biden administration is taking taxpayer money to pay the banks their interest?

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          Tyler Durden
          Mon, 04/08/2024 – 21:20

        • Xi's Production Push Set To Fan Renewed Trade War
          Xi’s Production Push Set To Fan Renewed Trade War

          By George Lei, Bloomberg markets live reporter and strategist

          US Treasury Secretary Janet Yellen implored Beijing’s top leaders during her four-day visit to refrain from boosting the country’s already vast manufacturing capacity and to focus on lifting domestic demand instead.

          That push, however, is in stark contrast to the priorities of President Xi Jinping, whose “new productive forces” slogan is now dominating the economic policy discourse. His push suggests the country’s expansion of its production capacity will likely persist and contribute to increasing tensions with the nation’s major trading partners.

          While its not entirely clear how Xi’s policy will play out on the ground, equity investors have already picked winners since the phrase was listed as the government’s top task in early March. Market reactions seem to imply that Beijing will double down on state spending to strengthen China’s transition toward high-tech, value-added production and advanced manufacturing. There is also a perception that “Made in China 2025” – a government plan to groom 10 globally competitive industries, and one that drew the ire of former President Trump – is making a comeback.

          The push for greater investments in manufacturing will likely reinforce China’s role as the world’s factory and fuel already-tense trade relationships with the US and other major economies, both in the developed and developing worlds. Over the past few months, the European Union, for one, has pushed back hard against a glut of Chinese products flooding the bloc’s market, including EVs, semi-conductors and solar and wind equipment. Frictions have also been on the rise with countries including Chile, Turkey and India in recent years.

          Beijing has also attempted to reorient its economy toward one driven by consumption, but it’s had little success. Back in 2020, Xi advocated “dual circulation,” a catchphrase calling for a greater push on reforms to build an economy with stronger local catalysts and a pivot away from export-led growth. That vision never materialized and the term has subsequently fallen into disuse, like other popular slogans during the pandemic era such as curbing “disorderly capital.”

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          Tasked with delivering 5% growth yet unable to either engineer a major housing stimulus or lend a strong helping hand to consumers, policymakers can only resort to increased manufacturing investments, Michael Pettis, professor of finance at Peking University and senior associate at Carnegie Endowment for International Peace, wrote in a tweet on Friday.

          With Xi’s motto “housing is for living in, not for speculation” surfacing from time to time in policy discourse and calls for direct cash transfer to consumers falling on deaf ears, re-balancing toward a consumer-driven economy looks like a tall order.

          As production exceeds consumption, Pettis says “trade conflict is only likely to get worse.” That probably won’t change no matter who wins the White House in November.

          Tyler Durden
          Mon, 04/08/2024 – 21:00

        • DOJ Stonewalls Over Audio Of Biden Interview With Special Counsel Hur
          DOJ Stonewalls Over Audio Of Biden Interview With Special Counsel Hur

          The Department of Justice (DOJ) has reused to provide audio tapes of President Biden’s interview with special counsel Robert Hur, defying a subpoena by the House GOP.

          In an April 8 letter to the House Oversight Committee and House Judiciary Committee, Assistant AG Carlos Felipe Uriarte complained that despite cooperating with other aspects of the Feb. 27 subpoena, “the committees have responded with escalation and threats of criminal contempt.”

          “We urge the committees to avoid conflict rather than seek it,” he added – while working for the same DOJ that has specifically sought conflict by launching investigations and lawsuits against former President Trump.

          “It is not too late for the committees to choose a different path, to take an offramp towards the ’spirit of dynamic compromise’ that the Constitution requires of us both,” the letter continues.

          The Feb. 27 subpoena requested copies of notes, audio files, video and transcripts related to Hur’s probe, and had a deadline of March 7, according to the Epoch Times, which has obtained a copy.

          “Americans expect equal justice under the law and DOJ is allowing the Bidens to operate above it,”  House Oversight Committee Chairman James Comer (R-KY) said in a statement. “Special Counsel Hur’s report outlined that classified documents Joe Biden stashed for years relate to countries where his family cashed in on the Biden brand.”

          In response to a request for audio of what author Mark Zwonitzer recorded while interviewing Biden, whose two memoirs he wrote, Uriarte said there is no need for the department to hand it over because the committees also have transcripts of the interviews.

          “To go further by producing the audio files would compound the likelihood that future prosecutors will be unable to secure this level of cooperation,” Uriarte wrote.

          “They might have a harder time obtaining consent to an interview at all. It is clearly not in the public interest to render such cooperation with prosecutors and investigators less likely in the future.”

          Uriarte then reiterated that the DOJ has provided ample evidence to the committees.

          “The department is willing to hear more from the committees, but at this time your further requests appear attenuated from the committees’ stated purposes—with today’s production, you now have the information you requested. Given the extraordinary executive branch confidentiality interests implicated here, a specific and adequate showing of need for any additional information, tethered to the authority under which the committees purport to act, is critical,” he wrote.

          Uriarte then hilariously asked the committees not to make DOJ materials public, writing “To ensure an adequate opportunity to review these materials for suitability for public release, we respectfully request that the committees not disseminate or otherwise disclose the documents or information therein without prior consultation with the department.”

          As the Epoch Times notes further;

          ‘The Evidence Does Not Establish’ Biden’s Guilt

          Mr. Hur announced on Feb. 8 that President Biden would not be charged.

          “Our investigation uncovered evidence that President Biden willfully retained and disclosed classified materials after his vice presidency when he was a private citizen,” Mr. Hur wrote in a 388-page report to Attorney General Merrick Garland.

          The materials, the report stated, included “marked classified documents about military and foreign policy in Afghanistan, and notebooks containing Mr. Biden’s handwritten entries about issues of national security and foreign policy implicating sensitive intelligence sources and methods.” The FBI collected these items during a search of President Biden’s residence in Wilmington, Delaware, last year.

          The FBI last year also searched the president’s home in Rehoboth Beach, Delaware, where they also found classified materials.

          Nonetheless, Mr. Hur said that “the evidence does not establish Mr. Biden’s guilt beyond a reasonable doubt” and that “prosecution of Mr. Biden is also unwarranted based on our consideration of the aggravating and mitigating factors set forth in the Department of Justice’s Principles of Federal Prosecution.”

          The classified documents are from President Biden’s more than four-decade political career, including the Senate, the vice presidency, and now the presidency.

          Mr. Hur interviewed President Biden over the span of two days last year.

          In deciding not to charge the president, Mr. Hur said that a jury likely wouldn’t convict him, in part due to his cognitive issues.

          “We have also considered that, at trial, Mr. Biden would likely present himself to a jury, as he did during our interview of him, as a sympathetic, well-meaning, elderly man with a poor memory,” Mr. Hur wrote.

          “Based on our direct interactions with and observations of him, he is someone for whom many jurors will want to identify reasonable doubt. It would be difficult to convince a jury that they should convict him—by then a former president well into his eighties—of a serious felony that requires a mental state of willfulness.”

          The Afghanistan documents, which had the highest level of classification in the United States, were from 2009. These papers were in a Virginia home that President Biden rented in 2019, where he met with Mr. Zwonitzer for his two books before the classified documents were sent to Delaware.

          “Nevertheless, we do not believe this evidence is sufficient, as jurors would likely find reasonable doubt for one or more of several reasons,” Mr. Hur wrote.

          “Both when he served as vice president and when the Afghanistan documents were found in Mr. Biden’s Delaware garage in 2022, his possession of them in his Delaware home was not a basis for prosecution because as vice president and president, he had authority to keep classified documents in his home,” he continued.

          “The best case for charges would rely on Mr. Biden’s possession of the Afghanistan documents in his Virginia home in February 2017, when he was a private citizen and when he told his ghostwriter he had just found classified material.”

          Tyler Durden
          Mon, 04/08/2024 – 20:40

        • New EPA Emissions Standards Defy Reality
          New EPA Emissions Standards Defy Reality

          Authored by Christian Milord via The Epoch Times (emphasis ours),

          The recent stringent Environmental Protection Agency’s (EPA) carbon emissions standards for internal combustion engines defy economic realities. The EPA would have us believe that coercing folks to buy electric vehicles (EV) will somehow reduce alleged climate change extremes. The new rules will negatively affect California and the entire nation.

          Traffic moves along Interstate 80 in Berkeley, Calif., on August 24, 2022. (Justin Sullivan/Getty Images)

          Obviously, most folks want to maintain clean air, land, and water ecosystems. However, scientists haven’t agreed on what degree human activity adversely impacts global climate change as opposed to natural causes for extreme climate events. Several dire predictions of rising seas haven’t panned out over several decades, while cooling and warming trends haven’t been too much out of the ordinary.

          The new EPA standards are part of a government plan to make EVs two-thirds of new car sales by 2032. Thirty percent of heavy duty commercial vehicles have to be emissions-free by 2032 and 40 percent of short-haul trucks by the same time frame. Emission particulates must be reduced to nine micrograms for each cubic meter of exhaust. Spokespersons from the American Petroleum Institute stated that the new regulation “threatens consumer freedom, energy reliability and national security.”

          These EPA goals are unlikely to eventuate due to several factors. First, Americans bristle when they are pressured into purchasing products that haven’t proven their worth over an extended period of time. Electric vehicles can be expensive and heavy due to large batteries that are costly to repair when they break down. They take too long to charge up when contrasted with diesel or gas refilling times. How will the grid handle millions of EVs when it can’t even cope with current electricity demands?

          Next, electric vehicles lose power in wintry weather, thus increasing the already existent range anxiety. What if an owner needs to charge up the vehicle and the charger doesn’t work at a chosen location, or it has an incompatible charger? Moreover, owners must keep in mind that criminals cut charger cables for the materials, something they aren’t tempted to do at diesel or gasoline filling stations.

          The car rental company Hertz learned a hard lesson when it purchased a fleet of EVs and hardly anyone wanted to rent them for reasons already noted. Hertz is now trying to sell 20,000 of these vehicles and adding back gasoline-powered cars. Other car rental companies will likely see the writing on the wall and follow suit. A similar scenario is unfolding with some bus and van companies as well.

          Third, purchasing these vehicles benefits China, because the PRC controls most of the rare earth minerals that go into batteries, as well as the lithium battery industry. Products that are manufactured in China might have questionable quality control standards as they move through the production process. How reliable are these heavy batteries, and how often do they catch on fire? It is unwise to surrender critical facets of our national and technological security to the Chinese Communist Party (CCP).

          Fourth, mandating a rapid transition to EVs puts government policies way ahead of actual innovation in the free market. Consumers want choices when it comes to making big purchases, and if they want an EV or hybrid vehicle that’s fine, but buying an internal combustion vehicle ought to be an option, too. With decreasing options, the costs of energy will skyrocket and healthy competition will be stifled.

          Fifth, although the new EPA guidelines would further reduce carbon emissions, the earth needs these emissions because plants turn CO2 into oxygen. Furthermore, climate alarmists ignore the fact that fossil fuel emissions have become much cleaner over the last four or five decades due to catalytic converters and pollution controls on industry. Extracting and refining fossil fuels have undergone a purer process.

          Sixth, has the EPA thought about the pollution generated by the recycling of large batteries, car bodies, solar panels, and wind turbines? Fossil fuel energy will be needed to carry out this process, just as oil products keep the electric grid in operation. Solar and wind power are unreliable sources of energy and would result in brownouts and power shortages if petroleum products are left out of the energy equation.

          Seventh, do government officials and well-heeled climate “progressives” truly believe what they are preaching? Most of them have fine cars, big homes, and they jet around the world leaving a huge carbon footprint in their wake. Their hypocrisy is staggering as they attempt to impose a minimalist lifestyle on other Americans while they live the high life. They don’t have to face the repercussions of their shortsighted mandates, yet they want the masses to regress back to a pre-industrial stage of existence.

          Finally, America has plentiful supplies of natural gas and petroleum that could last more than a century. Transitioning to an emissions-free society will take several decades if it happens at all. Until then, cleaner and reliable fuel sources will be in constant demand to drive a modern economy and lift people out of poverty. Indeed, energy autonomy is a crucial aspect of economic, informational, and national security.

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Mon, 04/08/2024 – 20:20

        • Ukraine May Have To Compromise With Russia, NATO Chief Admits
          Ukraine May Have To Compromise With Russia, NATO Chief Admits

          In a rare moment following more than two years of war, NATO Secretary-General Jens Stoltenberg has belatedly admitted the Ukraine may have to compromise with Russia at the negotiating table.

          He made the remarks in a fresh interview with BBC at a moment he’s urging Western allies to commit to approving his proposed five-year, 100 billion euro fund for Ukraine. As we’ve underscored before, this is largely about “Trump-proofing” NATO funding for Kiev for years to come, in anticipation that he could be in the White House next year.

          AFP

          Stoltenberg is still playing up the narrative that Ukraine needs major backing from the West in order to build leverage going into any potential future negotiations. Battlefield gains enabled with strong Western support could lead to an “acceptable result” for the Ukrainian side, he said.

          “At the end of the day, it has to be Ukraine that decides what kind of compromises they’re willing to do, we need to enable them to be in a position where they actually achieve an acceptable result around the negotiating table,” he told BBC.

          He sought to clarify that he’s not urging Ukraine to offer any concessions at this point, but said that “real peace” will only be achievable when “Ukraine prevails”.

          And yet, by all accounts Ukraine forces have not made any forward advances, instead the opposite. BBC commented on Stoltenberg’s rare talk of ‘compromise’ as follows: 

          But his language is notable because President Volodymyr Zelensky has always been adamant that he would never negotiate with Putin despite some calls on him to do so, including from the Pope.

          Mr Stoltenberg refused to be drawn on whether he was concerned about the possible return of Donald Trump to the White House, saying only that he was sure the US would continue to be an important ally, whoever was in charge.

          Zelensky’s consistent position throughout the war has been to say that he’ll never negotiate with Moscow so long as Vladimir Putin is in power.

          As for Stoltenberg, he had this to say only a few weeks ago in response to Pope Francis’ position that the warring sides need to urgently find compromise and end all fighting…

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          Last week, US Secretary of State Antony Blinken stunned by asserting bluntly that “Ukraine Will Become A Member Of NATO”.  He told reporters last Thursday in Brussels, where foreign ministers met to prepare for the alliance’s annual meeting in July: “Ukraine will become a member of NATO. Our purpose at the summit is to help build a bridge to that membership.”

          Below is one geopolitical commentator’s reaction to this “lie” of Ukraine joining NATO…

          * * *

          But it’s the lying and level of lying which is astonishing. As Anthony Blinken stunned journalists just recently by saying that “Ukraine will join NATO” – perhaps the biggest lie ever of the entire war as western leaders know this is impossible and can never happen, without, that is the full defeat and exit of Russian forces. Actually it’s the second biggest lie. The greatest lie of all is the one about Russia having its sights on European countries to invade and conquer which is something that Stoltenberg constantly says but not one EU leader believes which is evident in their irresponsible depletion of their own missiles.

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          Macron also plays a key role in the manufacture of these untruths with his recent success in convincing journalists to write up the “we could send French troops into Ukraine” when, in fact, he packed that statement with so many caveats that he really didn’t say it at all. What is clear is that there is a state of panic now which is palpable from the West in general and that Macron, as well as NATO leaders, are having informal talks – or at least are having talks about possible talks – with Russia over some sort of what the Americans like to call an “off ramp” for Ukraine and the West. You could call it a “white flag” which has probably left you humming the song.

          Tyler Durden
          Mon, 04/08/2024 – 20:00

        • LA's District Attorney Sued By Game Of Thrones Actor Over Dismissed Pedophilia Charges
          LA’s District Attorney Sued By Game Of Thrones Actor Over Dismissed Pedophilia Charges

          Authored by Emma Aksalic via The Epoch Times (emphasis ours),

          Los Angeles District Attorney George Gascón is facing legal action after a “Game of Thrones” actor filed suit over dismissed pedophilia charges.

          Actor Joseph Gatt attends the World Premiere of Disney’s “Dumbo” at the El Capitan Theatre in Los Angeles, Calif., on March 11, 2019. (Jesse Grant/Getty Images for Disney)

          Joseph Gatt—best known for his role as “Thenn Warg” on the popular HBO television series—is suing the city of Los Angeles, the LAPD, and the District Attorney’s office.

          The 52-year-old is seeking $40 million in damages, and says the allegations made against him were not only career-ending, but ruined his reputation by branding him as a “serial pedophile.”

          The charges stem from a 2022 arrest after Mr. Gatt was accused of engaging in sexually explicit online communication with a minor across state lines. He notes the claims were inadequately investigated prior to his felony charges being publicly announced in an LAPD press release.

          The alleged interaction resulted from a video on Cameo Mr. Gatt recorded for a fan’s 16th birthday, before being contacted by the teenage girl via social media on multiple occasions. Mr. Gatt did respond, but according to the suit it was in a manner that was “wholly appropriate and consistent with typical celebrity-fan exchanges.” The two, however, never met in person.

          Cameo is a video-sharing website often used by public figures. Users can purchase a personalized video for the individual receiving it. This gives fans a chance to connect with their favorite celebrities with a video message for any occasion. A crucial bit of information the lawsuit says backs claims that the teenage girl was an “admittedly obsessed fan of Gatt.”

          The 16-year-old went on to claim to have pictures of the supposed inappropriate conversations, but the defendants failed to “interview or even remotely assess for credibility.” Mr. Gatt was arrested in April of 2022 following a search warrant on his home. He called the act an “invasion of privacy” that deprived him of his “liberty and freedom.”

          Court records show the charges were dismissed in February of this year, after finding there was no sustainable evidence, and following forensic analysis, the minor in question fabricated the incriminating screenshots.

          According to the suit, officials allegedly withheld exculpatory information critical to Mr. Gatt’s case and failed to take action for over 20 months following his initial arrest. The complaint notes the defendants showed “reckless disregard for the truth,” while acting with the knowledge that the pictures were not “reliable, credible, or trustworthy on their face.”

          As a result, Mr. Gatt says he was fired from two movie roles he had already been cast in, with scenes being cut or reshot from movies he previously filmed in. He was excluded or disinvited from premieres and immediately stopped receiving any future business opportunities. The actor’s PR team and representatives dropped him as a client, and said death threats had become a recurrence.

          At the time of the incident, the actor took to social media vehemently denying the claims made against him, calling them “100% categorically wrong and reckless.” He pointed out errors and misleading information in the case, but was ultimately cooperating with authorities to clear his name.

          In California, if a person is falsely accused of a crime the accuser could be held liable via civil action for malicious prosecution. As a result, Mr. Gatt is requesting “compensatory, punitive and exemplary damages in an amount to be determined at trial, constituting his losses foreseeably resulting from Defendants’ misconduct,” per the suit.

          Meanwhile, Mr. Gascón has made headlines in recent months, after one of his staff prosecutors spoke out accusing him of intimidation tactics. Deputy District Attorney Tatiana Chahoian said authorities showed up to her home to deliver a disciplinary letter after blowing the whistle on a memo from Mr. Gascón telling prosecutors not to charge for crimes regarding street racing, a major issue facing the city of Los Angeles.

          In an interview with FOX, Ms. Chahoian said she feared retaliation adding her job was on the line because she “said something my boss didn’t like.”

          “Silencing people by threatening them with the police is literally a mafia tactic, and I don’t work for the mob,” Ms. Chahoian said.

          The embattled DA is up for reelection and will face off against contender and former attorney general Nathan Hochman to defend his seat come November.

          The Epoch Times reached out to Mr. Gascón’s office for comment.

          Tyler Durden
          Mon, 04/08/2024 – 19:40

        • Taiwanese Chip-Making Giant TSMC Gets Billions In US Grants, Loans For Third Arizona Chip Factory 
          Taiwanese Chip-Making Giant TSMC Gets Billions In US Grants, Loans For Third Arizona Chip Factory 

          Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chip maker, plans to build a third chip factory in Arizona after receiving $6.6 billion in grants and $5 billion in loans through US government subsidies. This is part of a massive effort led by the Biden administration to make America’s semiconductor manufacturing industry great again. 

          “Today, we continue building on that historic progress, with the Department of Commerce announcing a preliminary agreement with Taiwan Semiconductor Manufacturing Company (TSMC) to support the construction of leading-edge semiconductor manufacturing facilities right here in the United States,” the White House wrote in a press release. 

          The White House said, “Thanks to this investment, TSMC will also build a third chip factory in Phoenix, increasing its total investment in Arizona to $65 billion and creating over 25,000 direct construction and manufacturing jobs, along with thousands of indirect jobs.”

          “It’s a national security problem that we don’t manufacture any of the world’s most sophisticated chips in the United States,” US Commerce Secretary Gina Raimondo told reporters. 

          TSMC’s third chip plant will produce next-generation 2-nanometer chips, forecasted to be in production by the decade’s end. According to Bloomberg, the other two chip plants are expected to begin production in 2025 and 2028. 

          Raimondo pointed out that 2nm chips will be crucial for artificial intelligence chips that power the defense industry. 

          “For the first time ever, we will be making at scale the most advanced semiconductor chips on the planet here in the United States of America, by the way, with American workers,” the official said. 

          TSMC’s expansion in the United States will mitigate China’s influence on chip supply chains across Asia, especially Taiwan-based ones. 

          Here are some of the latest investments the Biden administration has dished out to tech firms for re-shoring efforts. 

          Source: Bloomberg

          Raimondo recently said the Chips Act allows the US to capture about 20% of the world’s most advanced chip production by 2030. As a reminder, the US once had 37% of the world’s chip production in 1990 and has since plummeted to about 12% in recent years due to the West’s globalist leaders who off-shored America’s manufacturing capacity. It’s time to bring the production back as the world fractures into a dangerous multi-polar state. 

           

          Tyler Durden
          Mon, 04/08/2024 – 19:20

        • New York Grand Jury Releases Scathing Report Against Child Protection Services Agency
          New York Grand Jury Releases Scathing Report Against Child Protection Services Agency

          Authored by Alice Giordano via The Epoch Times (emphasis ours),

          The result of a six-month special grand jury investigation into the murder of 8-year-old Tommy Valva by his father has revealed another disturbing instance of abuse of power by child protection agencies and the family court system.

          A picture of Harmony Montgomery before she went missing in 2019 (Courtesy of Justice For Harmony)

          The New York boy died in 2019 from hypothermia after his father, an NYPD cop, inflicted a series of cruel punishments on him. He made the child strip naked, lay on a cold cement garage floor, and hosed him down with cold water. Michael Valva was convicted of his son’s murder in 2022.

          The grand jury report, released on April 3, is wrought with similar findings in the recent review of the murder of 5-year-old Harmony Montgomery. Details of the girl’s murder and the state of New Hampshire’s inability to account for her whereabouts for two years gripped the nation.

          It was a tragedy set in motion when Massachusetts Family Court Judge Mark Newman awarded custody of the little girl to her father Adam Montgomery. Mr. Montgomery was convicted in February of murdering his daughter.

          Judge Newman granted custody to Mr. Montgomery instead of the girl’s mother despite his lengthy violent criminal history and transient status.

          Before Tommy Valva’s murder, Suffolk County Family Court Judge Jeff Zimmerman also awarded full custody of the little boy along with his two brothers to his father Michael Valva over the boy’s mother Justyna Zubko-Valva.

          In both Harmony and Tommy’s cases, court records, which were widely publicized in both murder trials, show that neither of their mothers had any history of abuse or violence.

          In both of the children’s cases, child protection service workers went along with the court’s custody awards despite knowing that there were serious child abuse allegations and child welfare concerns pending against both men.

          In her office’s findings from an investigation into Harmony’s murder, Maria Mossaides, director of the Massachusetts Office of the Child Advocate, slammed the state child protection agency for what she called system-wide failures and also for “recklessly” favoring parental rights over Harmony’s safety.

          Throughout its 75-page investigative report, the New York grand jury charges New York’s child protection services system with the same kind of failures.

          It faulted CPS employees for deeming child abuse allegations by another parent as unfounded with little evidence. It also cited the system as flawed for not having any independent checks and balances with the agency over such decisions.

          According to the grand jury, the agency even refused to return its records for the investigation.

          “The failure of CPS to do so can only be interpreted as a transparent attempt to shield their own inaction from public scrutiny. Thus, the laws and rules must be changed to prevent such future injustices,” the investigative jury charged.

          In its report, it also focuses on another familiar issue raised in other states regarding the operations of child protection agencies and the family court system: the immunity that child protection workers and judges enjoy from dereliction of duty.

          Rep. Bryan Slaton presents Amendment 1 to House Bill 567, on April 1, 2021. (Screenshot courtesy of Bryan Slaton)

          “Even though immunity does not preclude a finding of criminal liability for CPS caseworkers who have engaged in willful misconduct or gross negligence, such caseworkers are still effectively impervious to any such liability in cases where reports are deemed unfounded,” the panel wrote.

          The panel discovered that caseworkers, due to not being required to substantiate their findings to the court or even a supervisor, created a shield against accusations of “willful misconduct or gross negligence.”

          “In this regard, employees of CPS have the unilateral ability to thwart criminal investigations prior to the matter of immunity even becoming relevant, by determining that a case is unfounded, or by deciding not to migrate prior unfounded reports and related materials in a new indicated investigation,” the panel found.

          At a press conference during the murder trial, Ms. Zubko-Valva talked about her many pleas for help to child protection workers and other state officials that went ignored.

          “I kept thinking about all the institutions who failed to help him, who completely did absolutely nothing … now everybody’s trying to do the right thing … but where were you when I begged you for help when you could have saved my child’s life,” said Ms. Zubka-Valva who said she also filed a complaint with the FBI after Judge Hope Schwartz Zimmerman gave custody to Mr. Valva.

          The judge awarded custody to the father after a divorce attorney complained to the court Ms. Zubko-Valva was “interfering with her access to the children,” according to a pending wrongful death lawsuit Ms. Zubko-Valva filed against the county CPS.

          Details of CPS’ alleged complicity in the court’s custody ruling are scattered throughout the lawsuit. These include accounts of the agency’s quick dismissal of a flash drive. The lawsuit stated the mother provided this drive to the agency, and it contained 320 documents and other evidence supporting the claim that Tommy and his brothers were enduring severe abuse by their father and stepmother, Angela Pollina, who was convicted last March of the second-degree murder of her stepson.

          According to the lawsuit, the evidence included several letters from Tommy’s pediatrician and therapists corroborating the abuse. It was already revealed in the lawsuit and during Mr. Valva and Ms. Pollina’s trial that the agency ignored visible signs Tommy and his brothers were being starved.

          Two years ago, the Institute for Justice (IJ) launched “Project Immunity and Accountability,” a national campaign to end immunity for government officials.

          “If we the people must follow the law, our government must follow the Constitution,” the group states as the headline to its campaign’s mission.

          CPS agencies have long been accused of using immunity to justify their troubling decisions rather than reform them.

          In a 2007 case, a child advocate brought a federal suit against the Standing Rock Child Protection Services and Bureau of Indian Affairs in North Dakota after the agencies claimed immunity for knowingly placing a juvenile sex offender into a foster home with three young children.

          “Such immunity, it maintains, is based on the agency’s policy decision to protect the privacy interests of its former ward,” the lawsuit charged. “By this argument, CPS creates a smokescreen within which to hide from liability, despite its flagrant abuse of a system that it is duty-bound to protect.”

          As part of its campaign, IJ is asking state legislators to adopt amendments to their state constitution to abolish government immunity, but so far no lawmakers have taken up the cause.

          In New Hampshire, where Harmony Montgomery was murdered in 2019, Republican lawmakers like Rep. Leah Cushman have been pushing for reform of the child protection agency and family courts.

          The state did not accept any blame for the girl’s murder even though evidence was introduced during her father’s trial that the agency failed to conduct mandatory checks on her and appeared to be unaware that she had been missing for two years.

          Recently, Ms. Cushman successfully convinced House leaders to form a special committee to investigate the New Hampshire Division of Children, Youth, and Family (DCYF).

          As reported previously by The Epoch Times, the committee had only started when she was removed as chairman of the committee by the House Speaker when she initiated a voluntary oath for both victims and officials as part of the special committee’s investigation.

          She has since told The Epoch Times she believes the “real fix” is to take child protection service agencies out of the “investigation business,” abolish family courts, and return allegations of child abuse to the criminal courts where there is real due process.

          “Keeping these cases civil is being soft on crime and letting people shown to be abusive to never face justice in a real court of law,” she said.

          The NH DCYF, Massachusetts Department of Children Services, and Suffolk County Child Protective Services did not respond to requests for comment from The Epoch Times.

          Tyler Durden
          Mon, 04/08/2024 – 19:00

        • China Gold-Buying Frenzy Sparks Chaos In ETFs
          China Gold-Buying Frenzy Sparks Chaos In ETFs

          For the second time in a week, trading in an ETF that owns gold companies was halted in China overnight.

          The ETF’s price had gained over 40% in the past four sessions before falling 10% after trading resumed Monday.

          “The lack of alternatives, and the fact that it’s become a lot more difficult than it was a few years ago to get your money out of China and invest elsewhere – I think that’s definitely helping gold,” said Nikos Kavalis, managing director at consultancy Metals Focus Ltd.

          “Demand is pretty decent, considering where the price is.”

          China Asset Management Co. – who run the ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF – halted the investment vehicle “to protect investors’ interests” as the fund’s premium over its underlying assets increased to more than 30%…

          As Bloomberg’s Eric Balchunas highlighted: “Investors [in China] are so desperate to buy things that are not linked to their own economy/stock mkt, which has been in the gutter.”

          For context, that surge in the ETF correlated with a spot gold price near $2700…

          Source: Bloomberg

          As Bloomberg reports, the enthusiasm about products tied to gold, which has staged a record-setting rally in recent weeks, shows a desire to park money in a sector seen relatively immune to a struggling economy.

          “Gold is trading at an all time high and gold ETF demand has surged in the past week with almost $600 million of net inflows into gold ETFs globally,” said Rebecca Sin, a Bloomberg Intelligence analyst.

          “Demand in Mainland China could continue as investors look to diversify their holdings with commodities and foreign ETFs.”

          The ETF fervor is a fresh example of yield-hungry Chinese investors flocking to pockets of market strength as deepening property woes, volatile stocks and falling deposit rates reduce their options.

          For those wondering why buying bitcoin ETFs is not allowed there, Bloomberg’s Eric Balchunas notes that “if it were, they’d be going gaga for them given how much FOMO they have been showing for gold and US stocks (btc easily outperforming both).”

          Tyler Durden
          Mon, 04/08/2024 – 18:40

        • Russia Is Preparing For A Gasoline Shortage
          Russia Is Preparing For A Gasoline Shortage

          By Tsvetana Paraskova of OilPrice.com

          Russia is seeking to import gasoline from Kazakhstan in case shortages occur on the Russian market because of the diminished refining capacity due to maintenance and damages from Ukrainian drone attacks, Reuters reported on Monday, citing industry sources.

          Russia has asked Kazakhstan to prepare to potentially deliver 100,000 tons of gasoline, the sources told Reuters.

          Russia is also ready to import gasoline from Belarus if the current domestic supply is insufficient to meet demand.

          Russia is estimated to have slashed in half its gasoline exports via railway after imposing a six-month ban on exports from March 1 to ensure sufficient domestic supply in peak demand season, while several refineries are undergoing regular maintenance and urgent repairs after Ukrainian drone strikes.

          Russia suspended gasoline exports from March 1 until August 31, 2024, to ensure supply for the domestic market in peak demand season, in a second such export ban in just a few months. In the autumn of 2023, Russia banned exports of diesel and gasoline in an effort to stabilize domestic fuel prices in the face of soaring prices and shortages as crude oil rallied and the Russian ruble weakened.

          Russia has seen its refining capacity diminished in recent weeks, due to seasonal maintenance, but most of all due to drone attacks from Ukraine, which have damaged several refineries that have shut down for repairs.

          According to Reuters estimates, the amount of Russian oil refining capacity that has been taken offline due to Ukrainian drone strikes is 14% of Russia’s total refining capacity. Calculations show that 900,000 barrels per day of refining capacity have been taken offline by drone strikes, Reuters reported last month.

          Most recently, strong spring floods have shut down one refinery in Russia as they compromised a dam in the area forcing the evacuation of thousands of people.

          Tyler Durden
          Mon, 04/08/2024 – 18:20

        • Washington Offers Tehran Negotiations To Avoid Striking Israel: Report
          Washington Offers Tehran Negotiations To Avoid Striking Israel: Report

          Via The Cradle

          Iranian diplomatic sources say the US is trying to convince Iran not to retaliate against Israel for its bombing of the Iranian embassy in Syria earlier this month, Al-Jarida newspaper reported on Monday.

          The Israeli strike targeted a building attached to the Iranian embassy in Damascus. It led to the killing of the commander of the Quds Force of the Islamic Revolutionary Guard Corps (IRGC), Brigadier General Mohammad Reza Zahedi, his deputy, and five other IRGC officers. A source in the Iranian foreign ministry told the prominent Kuwaiti daily newspaper Al-Jarida that Washington offered Tehran direct negotiations with Tel Aviv to de-escalate the conflict.  

          According to the source, Washington will guarantee to persuade Tel Aviv to stop its military operations in Syria and Lebanon on the condition that Iran commit not to retaliate against Israel for the Damascus attack.

          At the same time, a diplomatic source in Beirut told Al-Jarida that Israeli Prime Minister Benjamin Netanyahu rejected an American proposal to pledge to stop attacks in Syria.

          The source added that Iranian leader Ali Khamenei is reviewing the US offer but is not expected to accept it if it does not include guarantees for a comprehensive ceasefire in Gaza and to stop all Israeli and US attacks on Iranian targets or those belonging to Iran’s allies in the Axis of Resistance.

          The source revealed that the Iranians had also previously received a verbal Israeli proposal via a Gulf state. In the proposal, Tel Aviv claimed it was ready to stop operations against Iranian targets in Syria and Lebanon in exchange for Tehran abandoning retaliation for the killing of Zahedi, whose killing was considered the most significant blow to Iran since the assassination of Qassem Soleimani.

          According to the source, the Iranian Foreign Ministry responded to the Israeli message by saying that the proposal must also include a ceasefire in Gaza.

          However, some IRGC leaders were unhappy with the foreign ministry’s response, viewing the Israeli proposal as a trap. The IRGC leaders argued that any negotiations with Israel must take place only after Iran has retaliated.

          The source stated that IRGC commanders believe that Israel’s targeting of the Iranian consulate is an opportunity that should not be missed to strike a strong blow at Israel, especially since the consular building in Damascus is considered sovereign Iranian territory and was targeted in a clear violation of international law.

          The source said that the IRGC leadership believes Washington will not enter a war with Iran even if it retaliates against Israel. They also consider that an adequately harsh strike against Israel will compel it to accept a ceasefire in Gaza and abandon any plans to invade Lebanon or escalate its bombing in Syria.

          Tyler Durden
          Mon, 04/08/2024 – 17:40

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        Apr 08

        Today’s News 8th April 2024

        • NATO: It's Time To Cull The Snake In America's Garden
          NATO: It’s Time To Cull The Snake In America’s Garden

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

          This week’s brouhaha in Brussels saw the Foreign Ministers of NATO emerge from their holes in the ground looking for food now that things are finally warming up for Spring.

          And they had a message for us: more for them and less for us. They were ready to steal the food from our mouths, our children from our homes, to give Ukraine the aid it needs to beat Russia in a war only they seem to want.

          They would strangle the political process at home to make this so. They would betray their basic roles as diplomats, speaking with forked tongues, to confound the conditions for dialogue with Russia and end the fighting.

          In fact, with all the war mongering going on you would have thought this was a convocation of military commanders, not diplomats. But that’s where we are in this process.

          The message of NATO’s foreign policy is simple, “War first. Talk later.” Facts on the ground don’t matter. Budget deficits don’t matter. Plunging public support for Ukraine doesn’t matter. All that matters is what these people want.

          And they want war. But at the same time, they won’t admit that that is exactly what they are waging.

          The doublespeak has gotten to the point where even Pinocchio is looking at outgoing General-Secretary Jens Stoltenberg going, “Dood. Your schnoze!”

          Then again, Stoltenberg is a year past his ‘use-by’ date. He’s even more a lame duck than French President Emmanuel Macron at this point. The problem for those who actually run NATO, they can’t agree on who to replace him with… a British Neoconservative or a Dutch Neoliberal?

          In the same week where the French and Russian Defense Ministers had a frank conversation about Ukraine, the attack in Moscow on civilians, and how quickly Russia will vaporize French troops sent into the fighting, we’re treated to the complete abandonment of all diplomatic pretense.

          And even then, that discussion was more of a diplomatic endeavor than anything coming out of Brussels, if Mark Wauck and Alex Mercouris are correct.

          Mercouris, of course, has a lot more to say, but that’s the long and the short of it. It was all a pathetic game, transparently so. The Russians were forced into this war, but now that they’re in it they’re in it to win. Mercouris sums it up:

          The Russians are not under any pressure to negotiate. They are winning the war and they know they’re winning the war. The West, if it wants to avoid a spectacular geopolitical disaster—which is what a defeat in Ukraine would be— in its own interests needs to talk to the Russians. But coming up with half baked proposals such as a return to Istanbul or a Frozen Conflict is going to get nowhere. It is only going to annoy the Russians even more. The logical and right thing to do is to ask the Russians what it is, exactly, in Ukraine that they want to achieve, and see whether it might be possible for the West to meet them halfway. I would have thought that is basic obvious diplomacy.

          It’s been so long here in the US where we’ve had a Secretary of State who wasn’t hell bent on a war with Russia, Iran, or China (or all three consecutively and concurrently) we’ve forgotten what having diplomats looks like.

          I mean think about it. Antony Blinken’s sad dog-eye technique makes you wistful for the days of Condoleeza Rice’s angry diversity hire routine.

          The difference between then and now is Putin hadn’t quite told NATO to “piss off.”

          Again, can anyone remember that as late as 2007 Vladimir Putin was invited to speak at the annual Munich Security Conference. Back then he was just as willing to tell the West what they needed to hear rather than wanted to hear as he is now, but at least we put up the pretense of listening to him.

          Blinken is only competent in the role of anti-diplomat. And why he’s worse than Rice or even *shudder* Hillary Clinton, is that he’s not even consistent. One week looking for an off-ramp after the terror attack in Moscow. This week mouthing words about Ukraine joining NATO knowing that that’s the road to a US war with Russia.

          But, Mercouris and Wauck both believe this is some kind of bluff by Blinken. I’d like to believe they are correct. Nat. Sec. Adviser Jake Sullivan cracking a rib canceling his trip to Saudi Arabia may speak to that. I mean, there’s a high probability of that when you “fall down the stairs” or whatever excuse he gave.

          As is this morning’s rumor that the US has told Iran they won’t be upset if Iran hits Israel hard in retaliation over the attack on Iran’s embassy in Damascus earlier this week. Israeli citizens seem to believe this rumor, looking for the exits, stocking up on toilet paper, etc.

          Today we can see what’s fundamentally wrong with NATO in this clearly over-produced shite with an extended steady cam shot that would make Stanley Kubrick green with envy… or just green.

          https://platform.twitter.com/widgets.js

          With all respect to Macron’s right hook, who else is producing this level of propaganda? Who is always driving this bus towards the edge of the cliff? Who is going to put more pressure on Speaker Mike Johnson to pass a Ukraine aid bill that he’s held at bay from these vipers for nearly 6 months?

          Exactly who you would expect if you still have three functional brain cells and a passing acquaintance with something known as ‘history.’

          The only good thing I have to say about David Cameron’s political resurrection is that he’s no Winston Churchill.

          I don’t know about you, but I get tired of writing and saying that NATO hasn’t been fit for purpose since the end of the Cold War. If that’s the case then why did they just get shiny new headquarters, new members, and every Western leader screaming for them to have more money?

          We all know why. And that’s the fundamental problem.

          NATO is the entangling alliance that the Founders warned us about back in the 18th century. And it’s high time we crafted a way out of the trap that membership in it represents. As a deterrent against future aggression NATO can be seen as a necessary thing. But, like all organizations facing the end of its lifespan, it had to find new ways to retain its relevance after we bled out the USSR with a deft combination of defense spending and $8 per barrel oil.

          This is also why the Cold War never really ended. It just shed its skin and NATO along with it. The problem with most of the analysis about the current conflict is that we’re all stuck (including myself at times) within the nation-state framework.

          The US needs this. The UK needs that. Russia needs something else.

          But that framework is inadequate to describe the everything that’s going on unless you map the geographic unit to the dominant globalist faction within each region of the West. And they each have very different agendas and goals with respect to Ukraine and Russia.

          I wrote about that last week, quoting this month’s GGnG Newsletter. It bears repeating this week:

          Ukraine became the battleground physically for this. To the EU, the US and the UK, through their influence in Poland and the Baltics, were used to foment this war. Bankrupting them {and Russia} through war forces them back to being subjugated sources of raw materials while exporting EU laws and rules to those places which have the privilege (from their perspective) of doing business with them.

          From all three players’ perspectives if Ukraine beat Russia, then they win. Putin is eventually deposed, Russia is humiliated, and the long-desired breakup of their land-based empire would commence. Europe gets their Great Reset. The UK gets to maintain control over the maritime empire, reclaiming NATO
          control over the Black Sea, and forcing the Arab oil producers back in line. The US gets to leverage a fallen Russia to weaken China and stop the further integration of the BRICS into a competitor.

          In short, the world would go back to the 1990’s when guys like Bill Browder were running around buying up everything and the Russian oligarchs Putin beat would be restored to power. Fukuyama would finally be right.

          But, as I said, the real goal of this war wasn’t just getting Russia, they had to maneuver the US into a terminal state as well, through the costs of fighting a war we weren’t capable of sustaining. And that was the bridge too far for US interests not beholden to the ghost of Trotsky and the tears of Bill Kristol.

          NATO cannot and should not survive these stresses if its intended victims, Russia/China/Iran, fight even remotely competently.

          And they are. They all understand that this is a race against a political and economic clock in the West that is quickly counting down to zero. All Russia has to do is keep grinding out territorial gains in Ukraine, Iran to not over-react to Israel’s provocations, and China to ignore the yapping over tariffs and Taiwan.

          And all the Americans who are tired of this have to do is keep the money spigot to NATO and Ukraine closed off as much as is politically possible.

          So, this is why we’re seeing the full court press from both the UK and EU to get the US re-focused on the task at hand in Ukraine. It’s why everyone on Capitol Hill hates Speaker Mike Johnson and why the knives are out from all sides, including his own party.

          Yeah, I’m lookin’ at you Marjorie Taylor Greene….

          Because the US is clearly looking for a way to extricate itself from this mess, even if all the puff adders on K Street want to do is pivot towards China.

          The cost/benefit analysis for the US, especially in an election year, just doesn’t add up. And there is zero real leverage Europe can apply to the US other than through their bought and paid-for politicos in D.C. for more money.

          The heart simply isn’t willing anymore. Why? For all the reasons I’ve been talking about for six years here, the memories of WWII are fading. The generations of Americans imprinted with the post-WWII Pax Americana lie are dying off (Boomers) or no longer care, if they ever did (Gen X).

          The Millennials and ‘Zoomers’ aren’t invested in this mythology. They know they’re the heads are on the chopping block.

          They can see that none of this is in their best interests. The US, as a nation at war with itself, will try one last time this fall to vote its way out of Europe before it gets ugly here. Listen again to Cameron’s harangue carefully. There is an implicit threat not just in the language but the staging of it.

          Make no mistake, folks. These people are the enemy of all that’s good and decent in the world. We have plenty of snakes here in the US doing their bidding, selling us the old lies repackaged as new ones, and acting outside the bounds of the law. There’s plenty of blame to spread around here.

          But what’s becoming obvious is that the era of extra-curricular US warfare is over. A lot of people refuse to look at the cover of the TPS report for fear of ‘getting the memo.’

          Sadly, most of them work at NATO, and we’re not skimming fractions of pennies here.

          *  *  *

          Join my Patreon if that’d be great… yeah…

          Tyler Durden
          Mon, 04/08/2024 – 02:00

        • What's So Great About The Great Reset, Great Taking, Great Replacement, Great Deflation, & Next Great Depression?
          What’s So Great About The Great Reset, Great Taking, Great Replacement, Great Deflation, & Next Great Depression?

          Authored by Jim Quinn via The Burning Platform blog,

          “At the point where the illusion becomes too expensive to maintain they will just take down the scenery, they will pull back the curtains, they will move all the tables and chairs out of the way, and you will see the brick wall at the back of the theatre.” 

          – Frank Zappa

          “In the past few years, you have been living within an escalating hybrid war. Globally, we have witnessed overt media control and propaganda campaigns; censorship, including arrests of people speaking in public; monitoring of all electronic communications and physical contact tracing; brutally enforced lock-down and masking requirements, with people being beaten, handcuffed, and arrested, even in their homes; suspension of healthcare services and weakening of healthcare systems; invasive testing requirements for employment and travel; forced quarantine of travelers; and coerced quarantine and “vaccination” of the healthy, general population.

          Governments dropped all pretense of democracy and were emboldened to open despotism. There were no functioning checks on this power. The courts provided no effective recourse to the public. Governments broadly abused fundamental human rights using as justification prevention of the spread of infectious diseases, which are, in truth, a great many, ever-present, and continually evolving. And so, this justification, if allowed to stand, assures the end of democracy and installation of openly despotic government.”

          – David Webb – The Great Taking

          After being fortunate enough to participate in a two hour zoom call with David Rogers Webb, author of The Great Taking, I was intrigued enough to download his free book and read it over the course of two days. I found David to be a humble, intelligent, thoughtful man who is deeply concerned about the future of mankind, leading him to write a book, putting him and his family at great personal risk. Using his decades of experience in the financial world and undertaking painstaking research regarding the systematic long-term rewriting of codes, laws, and regulations by those who constitute Bernays’ invisible government (aka Deep State), Webb makes a strong case the Ruling Elite/Deep State/Shadowy billionaires in smoke filled rooms have set the groundwork to crash the global financial system and abscond with all that remains of our accumulated wealth. I could feel his angst and anxiety about the future as he explained the details of their plan. After reading the book, I found myself agitated, angry, and feeling helpless.

          You can’t help but be depressed that everything you’ve worked for over the last forty years could be “legally” stolen by those controlling the levers of our financial system in an instant. My first reaction was, how can they do this and expect to succeed. Wouldn’t the citizens across the world react violently and start hanging the culprits? And then I remembered how the masses reacted to being locked down, masked, forced to not earn a living, censored for questioning the government, arrested for swimming alone in the ocean, imprisoned for protesting a rigged election, and being coerced and threatened into getting jabbed with a toxic gene altering concoction which neither protected you from contracting, spreading or dying from the annual flu (sold and marketed as the greatest deadly pandemic in history).

          The covid scandemic was nothing but a dry run to see how far they could push their agenda, using authoritarian measures and the full power of the surveillance state and regime media, in scaring the masses into compliance. It worked like a charm, with the vast majority of the global population proving to be nothing more than scared compliant sheep. The ruling elite are feeling their oats and no longer feel bound to follow any laws, constitutions, or moral code.

          They have shifted from relying on Huxley’s dystopian vision of a populace enslaved by pleasure, drugs, and technological distractions to Orwell’s surveillance, fear, and boot on the face dystopia, where the masses will do as they are told, or else. The caressing is over, and the crushing has begun. When the Great Taking commences, it will be done ruthlessly, enforced by those with truncheons and automatic weapons, sold to the masses as the only way to save humanity, and enforced through the legal machinations they have surreptitiously put in place over the last two decades.

          “People should either be caressed or crushed. If you do them minor damage they will get their revenge; but if you cripple them there is nothing they can do. If you need to injure someone, do it in such a way that you do not have to fear their vengeance.”

           – Niccolo Machiavelli

          As David Webb lays out in painstaking detail in his book, using factual provable data and documentation, as opposed to the false narratives and propaganda spewed by those who have hatched this decades long diabolical plot to abscond with all of your hard-earned wealth, the ruling oligarchy have designed a financial system which will absolutely self-destruct when they choose to pull that lever. It has been premeditated and solidified in legal code that their scheme, through central banks and their co-conspirator financial institutions, will sweep all of your collateral (aka your financial wealth) into their grubby little hands, in order to save “the system”.

          We will be left destitute, desperate, and indebted. With no means to service your debt, they will “legally” take the assets associated with that debt. Any rational critical thinking person who has been watching its government add $1 trillion to the national debt every 100 days, driving our annual interest on that debt to $1.6 trillion by the end of 2024, encouraging and aiding millions of third world diseased mutts to stream across our borders and be shipped to cities across the country, and purposely creating massive inflation while sabotaging our energy, food, and transportation systems, has to be asking what possible purpose could there be for these insane policies and actions. It only makes sense if their plan is to crash the global financial system on purpose.

          David Webb is convinced that is the plan:

           “Inevitably following the “Everything Bubble” will be the “Everything Crash.” Once prices of essentially everything crash and all financial firms rapidly become insolvent, these collateral management systems will automatically sweep all collateral to the Central Clearing Counter-parties (CCPs) and Central Banks. The trap, into which all nations have been herded, is ready and waiting to be sprung. There will be an epic end point to the decades of seemingly out-of-control financialization, which served no beneficial purpose for humanity, but the devastating effects of which are apparent even now. It has been a deliberate strategy executed over decades. This was the purpose of inflating the global bubble entirely out of proportion with any real-world thing or activity, which must end in disaster for so many, with no pockets of resilience allowed to remain in any country.” 

          – David Webb – The Great Taking

          Your cognitive dissonance and normalcy bias tells you they could not and would not initiate such an evil plot. I know I don’t want to believe this could or will happen, because as a working professional for the last 38 years I’ve followed the rules and believed if I saved for my retirement, lived beneath my means, and invested my savings carefully, I would be rewarded with a relatively comfortable retirement. It is extremely difficult for me to comprehend how these psychopaths in suits, pulling the levers of this world, could hatch such a malevolent conspiracy, designed to cause so much misery and pain to so many.

          But then I realize what they have done since 2019 with their totalitarian lockdowns, death jabs, surveillance mechanisms, imprisonment of dissenters, stealing of elections, destruction of societal norms, perpetuation of an invasion on our southern border, and provocation of global conflict designed to start World War 3. And yes, I do believe these traitorous billionaire scum would do this. David Webb shows how they did it before in 1933.

          FDR shutdown all banks in the United States on March 6, 1933. Then Congress passed the Emergency Banking Act of 1933 on March 9. According to William L. Silber, who was an economic advisor to the Federal Reserve Bank of New York, the Fed miraculously and suddenly in March of 1933 had the means “to supply unlimited amounts of currency to reopened banks”, which were, of course, only the banks selected by the Federal Reserve System.

          The key point is the Fed chose which connected banks would survive and which banks would be permanently put out of business, resulting in millions losing their life savings. The Fed had the resources to keep thousands of banks open and avoid the pain and suffering for millions of Americans, but they purposely inflicted pain upon millions. Why? David Webb contends the Fed created the panic, provided a solution that benefited them and their crony banks, destroyed the lives of millions, and took their assets (homes, cars, farms, appliances) on a grand scale. This was done to inflict pain, vanquish the masses and foster a facade of power, which is as true today as it was then. Webb asks the relevant questions and provides the answers:

          “Did “the bankers” need to take this property? What was the real purpose? Can you get past the idea that they were trying to help? Ask yourself: if they don’t want your money, and they don’t really want or need your stuff, and they’re not trying to help you, what do they want? What’s the point of all of their efforts? This may be difficult to hear: It was a deliberate strategy. It was about ultimate, complete power, allowing no centers of resistance. And so, it was about deprivation. It was about subjugation—and it still is, in more ways than we know. It was not about helping people then, and it’s not about helping people now. It is all part of the same deliberate herding of humanity and elimination of any pockets of resilience, which plagues us still.” 

          – David Webb – The Great Taking

          The Federal Reserve is owned by the Too Big To Trust Wall Street Behemoth Banks and does the bidding of the Deep State. The Fed is indemnified by the government (aka you and me) for any losses they incur, as they are currently sitting on $1 trillion of unrealized losses. They were a shadowy privileged institution in 1933 and have only become more powerful, shadowy, and corrupt today. They set the precedent of taking bank deposits from average Americans in the 1930s and will do it again without the slightest hesitation.

          They have rigged the regulatory system in a way that makes anyone holding cash in banks an unsecured creditor with no enforceable claim to their own cash when they decide to crash the system. They won’t bail out the banks the way they did in 2008/2009. Too messy and time consuming. They will conduct a bail-in by “shifting” all your deposits from what you thought was your safe bank account to the accounts of a “protected class” created through legal machinations by our Deep State rulers. They did a test run in Cyprus in 2013. This is what is coming.

          Since 2008 the Mega-Banks and Mega-Corps, with the patronage of the Fed, have achieved tremendous success in their endeavors to enrich themselves, while driving small businesses and small banks into bankruptcy, and impoverishing the masses they feign to embrace. Everything they do is built upon a foundation of lies, misinformation, disinformation, and propagandized narratives spun by their regime media co-conspirators.

          Today’s “Everything Bubble” was created by the Fed, using the justification of “saving the world” during the Great Financial Crisis of 2008/2009 and “saving the world” again from the Great Flu Virus of 2020/2022 by lowering interest rates to zero for the most part of 15 years. The major Wall Street banks were all effectively bankrupt in the Fall of 2008 and should have been liquidated using our existing bankruptcy laws. Stockholders and bondholders would have been wiped out, while depositors would have been made whole. Their assets would have been sold off to smaller banks who did not take world destroying risks and leverage themselves 30 to 1.

          Everything that has happened since 2008 has been nothing more than a vast pillaging operation disguised as saving humanity from a never-ending series of crises created by the very psychopaths who purposely created the crises in the first place. So why would it be so inconceivable to think they would initiate their final take down of the financial system, siphoning the remaining wealth of the masses?

          How else can we explain the seemingly insane measures undertaken by the captured and controlled politician puppets, along with the central bankers (owned by Wall Street), and sold to the masses as normal by their regime media mouthpieces? They have secretively put all the pieces in place from a legal and regulatory standpoint to drain the remaining wealth from the financial accounts of tens of millions when they initiate the next planned and executed financial “crisis”.

          Amidst the global chaos, as a wave of insolvencies sweeps the across the developed world, bloodshed from the ensuing global and civil wars scars the earth, wailing and gnashing of teeth by the victims reaches a crescendo, the Fed and their owners will not only survive, but thrive. We’ve seen this show before. During covid we needed to follow their orders so we wouldn’t die or kill our neighbors. It was all a lie. This time, with your money, investments, and assets purchased with debt in the hands of the few connected financial institutions, the fear will be putting food on the table, obtaining healthcare, and trying to survive.

          Those in control will use their regime media propaganda outlets to paint the narrative, everything they have done is to insure the survival of our system. They will act like noble caretakers of humanity, doing whatever it takes for mankind, while initiating the entire financial system demolition in the first place. They are counting on the ignorant masses to remain ignorant, fearful, and terrorized, willing to do whatever they are told to survive. According to David Webb, the CBDCs will be their solution. It’s all about power and control, just as it has always been.

          “The focus of the Atlantic Council is military strategy, not economics. And what is the Atlantic Council focusing on now? Central Bank Digital Currency (CBDC), which is virtual money backed and issued directly by central banks. All G7 economies have now moved into the development stage of CBDC, and 18 of the G20 countries are now in the advanced stage of development. Why is this happening now globally? Is it really a desire to bring “financial inclusion” to the disadvantaged? Why would The Atlantic Council, a military strategy think tank, focus on CBDC? We are living within a global hybrid war, a component of which will be the collapse of the banking, money, and payments systems globally. War aims will be achieved by means other than kinetic war. The foremost aim of the people who have privately controlled the central banks and money creation is that they will remain in power, forever. They can risk no pockets of resistance.” 

          – David Webb – The Great Reset

          They have been setting up the infrastructure for CBDCs, just as they rigged the financial system to abscond with your wealth, for over a decade, as they plan to force you into their new totalitarian electronic gulag. When they are confident their CBDC scheme is ready to launch, they will push the demolition button on the debt saturated house of cards, known as our financial system. When you wrap your head around their evil blueprint to enslave the world, you can make sense of what you see happening with your own eyes. What is happening is not normal. It makes no sense to any normal critical thinking person, but the majority of the population are addicted to their phones and believe whatever they are told by their government, regime media, Tik Tok influencers, and Facebook friends.

          How could our “elected” leaders be adding $1 trillion to the national debt every 100 days, while jacking the interest on that debt to $1.6 trillion per year, unless they want to crash the financial system. How could our “president” (his handlers) encourage, sponsor, and facilitate the invasion of our country by millions of 3rd world, tuberculosis ridden, mutts, drug dealers, child traffickers, and terrorists, unless they want to collapse our cities and social welfare system?

          How could our government medical agencies promote the poisoning of the masses with a gene altering Big Pharma jab, the mutilation of children because they were brainwashed by mentally ill left-wing teachers who told them they can be whatever sex they choose, drugging young boys who act like boys in an effort to make them like girls, and doling out anti-depressants like candy to middle aged unhappy cat ladies who bought the entire feminism narrative hook, line and sinker, unless they wanted to create a nation of physically and mentally damaged, easily manipulated drones?

          In addition, they are attempting to destroy our energy infrastructure, our farmers, and small businesses, while attempting to ignite a civil war within our borders and a global war with Ukraine and the Middle East, to further spur a global collapse. First collapse, then controls through CBDCs.

          “The key difference with the CBDC is the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability, and also, we will have the technology to enforce that. In other words: CBDC means absolute control and so, if the “old” money system somehow collapses, new money will be provided by the central banks in the form of Central Bank Digital Currency (CBDC), the new and improved control system. Imagine . . . it is chaos. You have lost everything but your smart phone (If you don’t have one, don’t worry—you will be issued one.) You will download an app. You will click boxes agreeing to everything. You will become increasingly indebted with each payment you make using the CBDC you are “given” on your phone. You will be told what to do and what not to do from then on. You will comply if you want to eat.” 

          – David Webb – The Great Reset

          Deprivation and subjugation are their goals and being they are evil psychopaths; they have no empathy for you or your plight. They have moved into the Orwellian stage of power for its own sake and a boot stomping on your face forever. Webb contends the “Great Reset” is anti-human and will introduce a modern-day techno-feudalistic system, built upon a foundation of fear, scarcity, surveillance, and threats of violence for non-compliance.

          A caste system more extreme than currently exists will separate the lords of the manor from the enslaved serfs. The first Great Depression was caused by the Fed, benefited the favored Wall Street banks, created a decade of deflation, bankrupted businesses, and destroyed the lives of the poorest. This Greater Depression will be far worse, as the immense consumer credit and mortgage credit bubbles will result in tens of millions losing their homes, automobiles, and various electronic gadgets bought on credit. Those who forget the past are condemned to relive it.

          “When the “Everything Bubble” is imploded, we will face a deflationary depression, which will span many years, even decades. This coming Great Deflation is intrinsic to the Great Taking. The Architects of the Great Taking have planned and prepared to use this dynamic fully, secure in their knowledge that, as night follows day, massive and prolonged deflation will certainly follow the epic debt expansion super cycle, which they created. The Architects have assured that they alone are positioned to take everything, and that you and your children are positioned on the other side of that, i.e., to lose everything, to be enslaved and even destroyed by it. People will be knocked down, and not be able to get up again. That is intentional, as the populace has been systematically encouraged to go deeply into debt.

          Whom the gods would destroy, they first cause to borrow at low rates of interest! As in the Great Depression, prolonged deflation will ensure that people who are in debt will not be able to make payments on their debts, let alone repay them. They will be trapped. All property and businesses financed with debt will be taken. With profound and persistent deflation assured to stretch over many years, debt becomes a powerful weapon of conquest. Debt is not a real thing. It is an invention, a construct designed to take real things.”

          – David Webb – The Great Reset

          Ever since reading Webb’s book my mind has been unsettled, trying to grasp how this could possibly happen, while trying to convince myself it won’t. We’ve muddled along for years and all predictions of collapse due to unsustainable debt growth have failed to materialize. My mind tells me Webb is right, while my heart hopes he’s wrong. But I know hope is not an option. No one in my financial position, or likely 99.9% of the population, will be able to avoid this accelerating train coming down the track.

          Every non-insider on the planet will be negatively impacted by the Great Taking. The best we can do is prepare and prep based on our resources, location, family situation, abilities, and attitude. Eliminating debt, having cash-on-hand, having precious metals on-hand, being heavily armed, creating a local network of like-minded people, having no cash or investments in Wall Street banks, and even owning bitcoin in your private wallet, could help alleviate some of the pain from the “Great Taking”.

          Webb recognizes we are already in a hybrid war against these psychopathic billionaire totalitarians bent on implementing their Great Reset, simultaneously with their Great Taking. It is a multi-front war waged on the financial battlefield, demographic battlefield, culture battlefield, technological battlefield, and ultimately will need to be settled on traditional battlefields across the globe. The level of malevolence required to perpetrate these heinous crimes against humanity is incomprehensible to the average person, therefore the masses don’t believe anyone would commit such acts. Webb knows these people exist and are capable of the vilest atrocities.

          “Wars have always been not so much about taking things as about subjugation of populations on all sides. Vast destruction and death are acceptable to their planners. You might ask, how could the people plotting and executing such insane schemes be held together? I suggest that it has something to do with the binding power of shared guilt, of the criminal pact. The perpetrators are each and all bound, whether explicitly or unconsciously, by evidence of shameful, treasonous acts committed against their own people. The commission of crime is a power totem among them. The more heinous the crime, the more powerful is the binding force.” 

          – David Webb – The Great Taking

          Based on my observations during the zoom call with David Webb, he struck me as a mild-mannered guy who is obviously nervous about the future of the world and can identify the culprits, based on their actions. Despite understanding their level of psychotic behavior and disregard for the future of humanity, he seems to think they can be defeated through non-violent means. I think that is a false hope, as you can only defeat power through superior power on a physical, intellectual, and spiritual level.

          I do believe they are losing control, resulting in an acceleration of their plans, ramping up of violence, blatant disregard for laws or the Constitution, and mistakes and missteps on their part. Based on their need for an accelerated collapse, I have a hard time believing we make it to the November elections without a triggering event initiating the dominoes toppling, and all hell breaking loose financially, militarily, and on a societal basis. Their deceptions are being revealed and an increasing number of citizens are angry and unwilling to comply.

          The “Great Taking” is a well thought out plan, but it is still just a plan. It can be thwarted and resisted if enough people awaken from their normalcy stupor. The odds are not in our favor, as the masses remain ignorant of what is coming, but the more people who can be awakened, the better our chances. We know the Deep State billionaire brain trust behind these schemes are heavily guarded and protected from us commoners. But these aren’t the heavily compensated apparatchik front men doing the day-to-day dirty work. These vile cogs in this machinery of destruction have names, addresses, and families. Fear works both ways. The good guys also have tech savvy individuals capable of throwing electronic monkey wrenches into the gears of the Deep State machinery.

          This entire episode is playing out during the second half of this Fourth Turning, where chaos and bloodshed reach a crescendo, as we approach the climax. The battle between good and evil couldn’t be any starker. Everyone will be forced to choose a side. I’ve spent the last sixteen years of my life trying to convince as many people as possible this nation has been on a burning platform of unsustainable choices. Instead of trying to extinguish the flames, our so-called leaders have sprayed gasoline onto the burning platform.

          We are closer than ever to seeing that platform collapse and sink to the bottom of the sea. The Great Reset and Great Taking schemes must be prevented from happening at all costs. Our moment of truth approaches. We need to meet the challenges ahead with no fear and no doubts. It’s time to channel our inner Josey Wales if we want to win. Good luck and Godspeed.

          Tyler Durden
          Sun, 04/07/2024 – 23:20

        • UCLA Med School Forces Students To Attend Hamas Supporter's Lecture On "Housing Injustice"
          UCLA Med School Forces Students To Attend Hamas Supporter’s Lecture On “Housing Injustice”

          First-year medical students at UCLA were mandated to attend a lecture by Lisa “Tiny” Gray-Garcia, a supporter of Hamas, who criticized modern medicine as “white science” and urged them to worship “mama Earth”, according to a new report from the New York Post.

          During the presentation, which was part of the school’s curriculum, Gray-Garcia covered her face with a keffiyeh and drew parallels between homelessness and the situation in the Gaza Strip, as shown in a video posted online.

          The lecture titled “Housing (In)justice in LA: Addressing Unhousing and Practicing Solidarity” was delivered at the medical school’s Geffen Hall. Naturally, it triggered a complaint by the university’s Jewish Faculty Resilience Group.

          Gray-Garcia has, on social media, claimed that the October 7 attack was justified the next day.

          She wrote: “As we hold our relatives in Occupied Palestine, and all of Mama Earth in prayer and love, we need to make connections. For us houseless, indigenous, swept/evicted people — we [are] not separate from this struggle — we suffer from the same settler colonial terror.”

          The “lecturer” / Photo: Facebook

          She then wrote on November 1: “When you resist after decades of relentless policing, killing and terrorizing, that’s not ‘terrorism,’ that’s justice.”

          Gray-Garcia said during her totally normal, well-adjusted speech: “Mama Earth was never meant to be bought, sold, pimped or played.”

          The New York Post reported that Gray-Garcia posted on Tik Tok stating: “Not only are our bodies considered unclean in public, not only are our lives criminalized for being outside without a roof, but politricksters use us for their campaigns.” 

          The Post, citing the Washington Free Beacon wrote:

          Gray-Garcia went on to note that California spent $30 million “on the removal of our houseless bodies” and asked students to think about how many homes could be built with that money “even in these inflated, ridiculous prices of commodified Mama Earth.”

          At another point during the lecture, Gray-Garcia is said to have called modern medicine “white science” and said they were in “what the settlers call LA,” according to the Free Beacon.

          She also reportedly led students in a chant of “Free, free Palestine,” the report says. Riveting stuff.

          Fox News spoke with some students about the event, one of which called it “crazy” and added: “I was very deeply offended and disgusted…I think even probably all students who stood up [during the prayer], a good number felt unsettled regardless of your religious persuasion.”

          “I think a lot of the students have the sense that this is weird or out of place.”

          The Jewish faculty group wrote to UCLA’s Chancellor, saying it should have “never” taken place, according to the report: “If anything of that ilk managed to occur on campus notwithstanding efforts to avoid it, the immediate obligation of all administrative staff should have been to end it immediately and to support the students who have been mistreated.” 

          “Instead, staff acted exactly to the contrary of their duties.” They wrote that Gray-Garcia also once came to campus wearing a “terrorist-themed costume.”

          Tell us again how this helps doctors solve medical issues?

          Tyler Durden
          Sun, 04/07/2024 – 21:35

        • The Geopolitics Of Chaos: Apocalypse Scenario IV
          The Geopolitics Of Chaos: Apocalypse Scenario IV

          Submitted by Tuomas Malinen

          In this entry I will expand the analysis we presented in the March Deprcon Outlook of GnS Economics. Issues discussed:

          • ‘Craziness’ driving the world towards WWIII is increasing.
          • Geopolitics is dominating in the background, but people tend to forget it’s a two-way street and that there’s no “right or wrong”.
          • Chaos sowed across the globe does not fit any standard analytical framework.
          • Major escalations could be just around the corner.

          The craziness deepens

          On 3rd April, Presidents of Finland and Ukraine, Alexander Stubb and Volodymyr Zelenskyi, signed a defense pact with Ukraine. Finland has not signed such bilateral pacts with a war-going country since our President Risto Ryti signed a Ryti-Ribbentrop-pact in June 1944. The “pact” was actually just a personal letter from President Ryti to the leader of the Nazi-Germany, Adolf Hitler, where he vouched that he would not pursue peace with the Soviet Union (Russia). In exchange, Finland continued to receive military support and grain from Nazi Germany, which was crucial for her efforts to stop the ongoing major attack of the Soviet Union. President Ryti made the pledge under extreme pressure, as Finland was facing an imminent threat of invasion, and paid a heavy price. He was imprisoned for three years by a war crimes court (demanded by the Soviet Union) in 1946.

          So, Finland signing a defense pact with a country in a direct conflict with Russia is utterly unheard-of, since WWII. It makes absolutely no sense for the security of Finland. It’s actually a threat to her security. Some could even call it an act of high treason. The most worrying part is the statement by President Stubb, when he was asked whether Finland would be sending troops to Ukraine. His answer was: “At this point there’s no need to send troops”. This opens a door for future deployment of Finnish forces to Ukrainian soil. What could possibly be the motive for this?

          On Thursday, there was another major escalation, when the U.S. Secretary of State Antony Blinken announced that “Ukraine will become a member of NATO”. This was exactly what President Putin warned against in 2008, when he (allegedly) said to President Bush that if Ukraine ever becomes a member of NATO, the country would cease to exist. Why an earth are western leaders deliberately pushing against a known red line of the Kremlin?

          Europe crumbles

          The European security structure has been based on unification and stopping conflicts in their tracks through negotiations since WWII. It was highly effective during the Cold War, while we’ve seen one major regional conflict in Europe since the Second World War, i.e., the Yugoslav Wars fought from 1991 till 1999, caused by the fall of the Communist Bloc. In 2004, we had the Georgian conflict and in 2014, the Ukrainian conflict begun.

          What was notable in both Georgian and Ukrainian conflicts, was that they were caused by NATO and the EU coming too close to Russian borders in countries the Kremlin considered unstable. Simple-minded people assume that geopolitics is about fairness and justice. It’s not. It’s about security, period. China, Russia and the U.S. play ruthless geopolitical games. Just think, what would happen if Mexico would try to join a military alliance with Russia?

          Yet, what we know from history is that when the European security structure crumbles, the world should tremble in fear. WWI and WWII, the most destructive wars ever fought, got started from failure of politics in Europe. Now we are on the path to failure, yet again. The question is why? Two plausible explanations rise above others.

          Geopolitical realities

          The most plausible geopolitical explanation that I’ve seen on the Ukrainian conflict is that the U.S. wanted to eliminate the threat of the Eurasian alliance, which was forming between China, Europe and Russia. While it was a loose alliance, it was deepening. Russia provided ample raw energy, China was the production hub (factory) and Europe provided capital and know-how. Overtime, this could (would) have developed into a deeper alliance, which could very easily have risen to threaten the global hegemony of the U.S.

          Dr. Zbigniew Brzezinski, one of the most influential geopolitical scholars ever lived (he passed away on the 26th of May 2017), noted in the conclusions of his magnum opus, The Grand Chessboard: American Primacy and Its Geostrategic Imperatives (1997), that:

          The time has come for the United States to formulate and prosecute an integrated, comprehensive, and long-term geostrategy for all of Eurasia. This need arises out of the interaction between two fundamental realities: America is now the only global superpower, and Eurasia is the globe’s central arena. Hence, what happens to the distribution of power on the Eurasian continent will be of decisive importance to America’s global primacy and to America’s historical legacy.

          This aim was achieved with the onset of the Russo-Ukrainian war in late February 2022 (read update on 24/12/2022 on the controversy of who actually started the war). This could also explain, why the war continues. A peace between Russia and Europe would, most likely, re-start the construction of the Eurasian alliance. Perpetual war will guarantee that this does not occur, but this requires deepening escalation. We now seem to be on that road. However, the “Eurasian strategy” does not explain what is happening in the Middle-East.

          Chaos as the aim?

          Actions of Israeli Defense Forces (IDF) in the Middle-East have been highly escalatory of late. The strike on the Iranian embassy in Damascus cannot be considered as anything other than a deliberate act of escalation. Embassies are sanctuaries everywhere, and striking one simply cannot be a “mistake”. The IDF leveling hospitals is also nothing short of a war crime. Yet, the world stands idly by. Why? Moreover, on Thursday, several Iranian military bases were struck by a Jaish al-Adl, a Baluchi militant group, allegedly funded by the U.S., Saudi-Arabia and Israel. Iran has threatened to retaliate (understandably), which would lead to a deepening circle of escalation and, eventually, to a regional war, likely with very dire consequences. The United Arab Emirates also just announced that it will cut all diplomatic ties with Israel.

          The deepening escalation, by Israel and some U.S. backed forces, makes absolutely no sense, unless the aim is to ignite a regional war. One could argue that Israel could be looking to crush all threats it sees in the region in a regional war. However, the devastation to the world would likely be cataclysmic, leading to wide-spread chaos. Who could possibly want that?

          Divide et Impera

          In December, I floated the idea of a ‘group-over-groups’ pulling strings above our democratic and supranational institutions. My analysis was based on the Occam’s Razor principle, which states that when you seek a solution to any problem, you should only include the least amount of assumptions. A dark agenda by a very powerful group is a theory with the least amount of assumptions. It simply ticks all the boxes. From my piece:

          […] behind every political decision is a force, which pushes it through. In the ideal situation, it’s the will of the people. A majority of the populace in a country want something, a majority of politicians want to get re-elected (and not to upset their supporters) and so they push the legislation through, more or less representing the will of the people. This is the ideal.

          However, during the past three years, political leaders have made decisions that have been very detrimental to and/or objected to by the general populace on a global scale. These include multiple Corona lockdowns, money printing (leading to the inflation shock), two wars, sanctions hurting economies, the woke-agenda, and the de-farming agenda (see, e.g., this and this). Their combination makes no sense in a national-political sense, because they create havoc. It’s also difficult to trace all of them to the motives of any of the major hidden lobbyist groups, like the military-industrial complex on which U.S. President Dwight D. Roosevelt warned already in 1962.

          I speculated that the aim of such a group could be Divide et Impera. This ancient principle, or strategy, translates as Divide and Rule (Conquer). The main idea is to create such large divisions between political parties, or whatever dominating parties, so that they cannot rise to challenge the rule subjected upon them, usually by an outside force. Ancient Romans used this strategy many times to enforce and cement their rule over their provinces. The strategy has four key elements (from Wikipedia):

          1. Creating or encouraging divisions among the subjects to prevent alliances that could challenge the sovereign and distributing forces so that they overpower each other.
          2. Aiding and promoting those who are willing to cooperate with the sovereign.
          3. Fostering distrust and enmity between local rulers.
          4. Encouraging meaningless expenditures that reduce the capability for political and military spending.

          We can see all in play in our western societies. Ordinary people have been divided based on artificial conditions, like vaxed/un-vaxed, pro-Ukraine/pro-peace, woke/conservative and those supporting all government actions vs. those opposing (this latter has existed in human societies for quite a while). Those that obey the agendas set by governments have been given full access to societies (during, e.g., Corona times), while those criticizing have been silenced and even imprisoned. In Europe, leaders of countries that followed the orders of unelected leaders of the European Union (Commission) received high positions in the EU power structure, while dissidents are discarded and even their careers sometimes destroyed. All local rulers, who rise to challenge the commands by the EU (like Victor Orbán in Hungary), have been defamed and even blackmailed. European nations have decades long histories of neglecting their defense spendings and now propositions are being made to fund the re-armament of Europe through the EU. “Meaningless” expenditures have of course been on the rise in western societies for a very long time.

          When we subject the strategy of Divide et Impera to policies enacted across the globe, we can seen similar developments everywhere. This enforces the view that there could actually be very an influential ‘group-over-groups’ spreading its agenda of chaos (Divide et Impera) across the globe.

          Conclusions

          Forecasting has become extremely speculative in recent years. This is because the developments we are witnessing do not fit to any standard analysis framework. It’s also really strange how intelligent people seem to have forgotten the brutal realities of geopolitics. Fairness and “right and wrong” simply do not fit into it, but that’s how the western propaganda is marketing things currently (Russia naturally has it’s own war propaganda). The propaganda operations run in the West since the start of the Russo-Ukrainian war have been so effective that even Josef Goebbels would have envied them.

          The question we should be asking is: while geopolitical realities are dominating developments, at least in Ukraine, is there a global agenda of Divide et Impera being played in the background? If there is, who is pulling the strings? This need not be so, but if we do not ask these questions, we risk being played by forces seeking our demise. This is no time to be small-minded and/or naive.

          The most frightening scenario is that the wars in the Middle-East and Europe will flare up within the next few months (or even weeks). Rallies in gold, oil and stocks of weapons companies suggests that something is up. Be prepared for extreme events.

          Tyler Durden
          Sun, 04/07/2024 – 21:00

        • DOJ Seeks Prison For Ashley Biden 'Showers With Dad' Diary Culprit
          DOJ Seeks Prison For Ashley Biden ‘Showers With Dad’ Diary Culprit

          The Department of Justice (DOJ) is seeking prison time for a woman who stole the diary of Ashley Biden, the president’s daughter, before selling it to Project Veritas prior to the 2020 presidential election (and after an unsuccessful attempt at selling it to the Trump campaign).

          Aimee Harris, 40, and Robert Kurlander, 58, admitted they took part in a conspiracy to transport stolen materials from Florida, where Ashley Biden had been living, to New York.

          “Harris and Kurlander stole personal property from an immediate family member of a candidate for national political office,” said Damian Williams, the U.S. attorney for the Southern District of New York.

          And while Veritas – which was raided by the Biden DOJ in 2021 – elected not to publish the diary, the National File did – revealing a passage in which Ashley Biden writes that she shared “probably not appropriate” showers with her father, Joe Biden.

          Entries in the diary include the author revealing she believes she was sexually molested as a child and shared “probably not appropriate” showers with her father, some that detail the author’s struggle with drug abuse and the author’s crumbling marriage with multiple affairs, along with entries showing the family’s fears of a potential scandal due to her brother’s new home, and those that show a deep resentment for her father due to his money, control, and emotional manipulation. –National File

          DOJ Cracks Down

          In a Tuesday letter to Judge Laura Swain, federal prosecutors sought 4-10 months in prison for Harris, followed by three years of supervised release. Prosecutors had previously sought six months of home confinement followed by three years of supervised release.

          Prosecutors cay Harris delaying her sentencing hearing date 12 times for ‘inadequate’ reasons.

          Defending Daddy Biden?

          With the diary back in the news, leftist influencer Ed Krassenstein took to X to defend the Bidens’ shower habits.

          https://platform.twitter.com/widgets.js

          Stay classy Ed.

          How Was The Diary stolen?

          In the spring of 2020, as Joe Biden was in the process of clinching the Democratic presidential nomination, Ashley was living in Delray Beach, FL with said friend “who had rented a two-bedroom house lined with palm trees with a large swimming pool and wraparound driveway,” according to people familiar with the matter.

          In June, however, Ashley visited the Philadelphia area as Joe’s campaign was ramping up.

          “She decided to leave some of her belongings behind, including a duffel bag and another bag,” according to the report.

          Several weeks after Ashley left the Delray house, the friend who hosted her invited an ex-girlfriend named Aimee Harris and her two children to move in. Harris, in the middle of a custody dispute and financial woes, appears to have been a Trump supporter according to ‘social media postings and conversations.’ She learned that Ashley Biden had stayed there, and that some of her things had been left behind, according to two people familiar with the mater.

          Exactly what happened next remains the subject of the federal investigation. But by September, the diary had been acquired from Ms. Harris and a friend by Project Veritas, whose operations against liberal groups and traditional news organizations had helped make it a favorite of Mr. Trump.

          In a court filing, Project Veritas told a federal judge that around Sept. 3, 2020, someone the group described as “a tipster” called Project Veritas and left a voice message. The caller said “a new occupant moved into a place where Ashley Biden had previously been staying and found Ms. Biden’s diary and other personal items.”

          The “diary is pretty crazy,” the tipster said on the voice mail, according to a Project Veritas court filing. “I think it’s worth taking a look at.” -NYT

          Harris and Kurlander each pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property from an immediate family member of a former government official who was running for national office.

          Tyler Durden
          Sun, 04/07/2024 – 20:25

        • Appeals Court Vacates 'Disinformation' Monitoring Of Jan. 6 Defendant’s Computer
          Appeals Court Vacates ‘Disinformation’ Monitoring Of Jan. 6 Defendant’s Computer

          Authored by Joseph M. Hanneman via The Epoch Times (emphasis ours),

          A sentencing requirement that Jan. 6 defendant Daniel Goodwyn have his computer monitored by the government for “disinformation” has been vacated by the U.S. Court of Appeals for the District of Columbia Circuit.

          (Illustration by The Epoch Times, Getty Images, Courtesy of J6 Patriot News)

          The court on March 26 published a mandate sending the case back to U.S. District Judge Reggie Walton to remove the computer monitoring requirement he issued as part of the sentencing judgment in the case on June 15, 2023.

          “Judge Walton had no legal basis to issue the special condition,” Carolyn Stewart, Mr. Goodwyn’s attorney, told The Epoch Times in an April 3 email.

          A three-judge panel of the U.S. Circuit Court of Appeals ruled the judge “plainly erred” in imposing the computer monitoring. Judges Gregory Katsas, Naomi Rao, and Bradley Garcia issued a per curiam order vacating the monitoring provision.

          Judge Walton, when imposing a 60-day jail sentence in June 2023, said Mr. Goodwyn spread “disinformation” during a broadcast of “Tucker Carlson Tonight” on March 14, 2023. Judge Walton ordered that Mr. Goodwyn’s computer be subject to “monitoring and inspection” by a probation agent to check if he spread Jan. 6 disinformation during the term of his supervised release.

          The judge also referred to Mr. Goodwyn spreading alleged “misinformation,” using the term interchangeably with “disinformation.”

          Mr. Goodwyn, 35, of Corinth, Texas, pleaded guilty on Jan. 31, 2023, to one misdemeanor count of entering and remaining in a restricted building or grounds without lawful authority. The charge could have meant up to a year in prison.

          60 Days Behind Bars

          On June 6, 2023, Judge Walton sentenced Mr. Goodwyn to 60 days in prison, a year of supervised release, a $2,500 fine, and a $500 restitution payment.

          Federal prosecutors had asked for 90 days in jail, 36 months of supervised release, a $25,676 fine, and $500 in restitution. The recommended fine amount represented proceeds of a GiveSendGo web page Mr. Goodwyn uses to raise funds for his legal fees.

          Mr. Goodwyn asked for a sentence of time served with three months of supervised release. He received credit for three weeks he spent in pretrial detention, but not for the 13 months he spent in home detention. He completed his incarceration at the Federal Correctional Institution at Bastrop, Texas, on Aug. 25, 2023.

          Daniel Goodwyn of Corinth, Texas, speaks with live-streamer Baked Alaska inside the Senate Wing Door at just before 3:33 p.m. on Jan. 6, 2021. (U.S. Capitol Police/Screenshot via The Epoch Times)

          Mr. Goodwyn said the Court of Appeals made the correct decision.

          “Judge Walton’s imposition of the computer monitoring restriction is inconsistent with American law and tradition,” Mr. Goodwyn told The Epoch Times. “It’s unbelievable, in my opinion, that he would unlawfully order feds to spy on me in direct violation of the First and Fourth Amendments, under threat of locking me back up in prison.”

          Mr. Goodwyn was arrested on Jan. 29, 2021, in Sherman, Texas. He was charged in a superseding indictment on Nov. 10, 2021, with obstruction of an official proceeding, entering and remaining in a a restricted building or grounds, disorderly and disruptive conduct in a restricted building or grounds, disorderly conduct in a Capitol building, and parading, demonstrating, or picketing in a Capitol building.

          Mr. Goodwyn said he was at the Capitol on Jan. 6 as a citizen journalist for StopHate.com. He entered the building through the Senate Wing Door at 3:32 p.m. and spent 36 seconds inside the Capitol, security video shows.

          Prosecutors and the judge faulted Mr. Goodwyn for using a bullhorn on Jan. 6 “to incite other rioters to go into the Capitol,” and saying “we need critical mass for this to work.” They said Mr. Goodwyn evaded a police officer’s attempt to stop him from entering and initially ignored the officer’s command to exit the building.

          Ms. Stewart said her client was inside the Capitol for less than a minute, did not assault anyone or vandalize property.

          During the sentencing hearing, Judge Walton criticized Mr. Goodwyn for having the “false impression” that the 2020 presidential election was stolen from President Donald Trump. “And there is just no proof whatsoever that that was, in fact, the case,” the judge said, according to the official court transcript for the June 6 portion of the hearing.

          It was Mr. Goodwyn’s appearance on Mr. Carlson’s Fox News program that drew some of the sharpest fire from Judge Walton. He called Mr. Carlson a “lightning rod” who “has said and done things that I think clearly have been divisive.”

          Mr. Carlson gave the impression “that individuals who have been charged in reference to the events on January 6th of ‘21 have been treated unfairly,“ the judge said. ”And I see no evidence that, in fact, was the case.”

          When being interviewed by Mr. Carlson, Mr. Goodwyn “made no attempt to correct the record,” Judge Walton said. “And when Carlson suggested that all the defendant did was go into the Capitol and walk around for less than a minute and leave, that just wasn’t correct. And that misinformation that is disseminated to the American public has contributed to the discord that now exists in our country in reference to the presidential election and what occurred on January 6th.”

          The judge said Mr. Goodwyn “could have come clean and indicated exactly what he did when Tucker Carlson was minimizing the extent of what he did. Because he did more than what Tucker Carlson indicated. And he didn’t say anything to correct that.”

          Protesters clash with police and security forces at the U.S. Capitol on January 6, 2021. (Roberto Schmidt/AFP via Getty Images)

          ‘Monitoring and Inspection’

          The judge said Mr. Goodwyn should be monitored during his supervised release to determine if he is spreading disinformation on social media.

          “…Since he has used social media in order to provide what I consider to be disinformation about this situation,” the judge said, “I would require that he permit his computer use to be subject to monitoring and inspection by the probation department to see if he is, in fact, disseminating information of the nature that relates to the events that resulted in what occurred on January 6th of 2021.”

          Read more here…

          Tyler Durden
          Sun, 04/07/2024 – 19:50

        • Russia Finally Says 'Nyet' To Continued North Korea Sanctions Enforcement
          Russia Finally Says ‘Nyet’ To Continued North Korea Sanctions Enforcement

          Authored by Joseph D. Terwilliger via AntiWar.com,

          Last week, a United Nations Security Council resolution to extend the mandate for the UN Panel of Experts on DPRK sanctions was vetoed by the Russian Federation, effectively disbanding the primary enforcement mechanism for the nine rounds of sanctions that have been imposed on the DPRK since 2006, in response to their repeated nuclear and ICBM tests.

          On October 9th, 2006, the Democratic People’s Republic of Korea (DPRK) conducted their first successful test of a nuclear weapon. In response to this, the United Nations Security Council unanimously passed resolution 1718, condemning the DPRK for the test, and imposing a harsh regime of sanctions on the regime. Subsequent to a second test on May 25, 2009, they unanimously passed resolution 1874, which tightened the sanctions regime significantly and established a “Panel of Experts” to “gather, examine and analyze information…regarding the implementation of the measures imposed”, for an initial period of one year. As more and more sanctions resolutions were passed in response to further nuclear and ICBM tests, the mandate for this Panel of Experts was unanimously extended each year until last week.

          Via AP

          Leading up to the vote, China and Russia had proposed a compromise to extend the mandate of the Panel of Experts for one year, conditional on adding a sunset clause to the sanctions regime, as the Chinese delegate said “Sanctions should not be set in stone or be indefinite”. The Russian delegate argued that the situation in Korea had changed enormously since 2006, and that continuing the sanctions in the name of preventing the DPRK from becoming a nuclear power was “losing its relevance” and was “detached from reality”.

          It is rather ironic that the United States and its allies have been criticizing the Russia veto of an otherwise unanimous Security Council resolution as destabilizing, given that the US routinely uses its own veto power, as most followers of this site are well aware. This Russian application of its veto power has been described as a crisis for the “broader functioning of the UN Security Council and the post World War II international order”, even though it is completely obvious that we would have used our veto against any Russian or Chinese resolution to relax or discontinue the sanctions regime.

          The sanctions imposed on the DPRK obviously did not have the desired effect of deterring them from becoming a nuclear power. It is fair to ask why they failed to achieve the desired outcome, and whether continuing sanctions are likely to alter that reality.  When I accompanied retired NBA superstar Dennis Rodman to North Korea, Kim Jong Un personally explained his logic to us. He remarked that Libyan leader Moammar Qaddafi had given up his weapons of mass destruction (WMD) programs in 2003, in exchange for sanctions relief and security guarantees that weren’t worth the paper they were written on.  As soon as the opportunity presented itself, in Spring 2011, Secretary of State Hillary Clinton joyfully bragged that we had killed Qaddafi.

          Furthermore, Saddam Hussein had allowed weapons inspectors from the International Atomic Energy Agency into his country, and they failed to find evidence of WMD programs (as there were none), and yet despite this, the US launched a war of regime change in 2003, which subsequently led to the death of Saddam Hussein.  He concluded his argument by pointing out the fact that although Pakistan harbored America’s number one enemy, Osama bin Laden, the US never attempted a war of regime change there.  In his mind the main difference was obvious – Pakistan was a nuclear power.

          Given that the United States government has never been subtle about its desire for regime change in North Korea, and has refused to take first use of nuclear weapons by the United States off the table in the event of war with the DPRK, Kim Jong Un’s rationale is quite compelling.  I certainly had no counterargument.

          One must remember that the number one goal for the North Korean regime is their own survival, and Kim Jong Un’s strategic decisions (like those of any other political leader) should be evaluated in that context – obviously his priority is to stay alive and keep his job!  With that in mind, the continued pursuit of a nuclear deterrent seems like the most rational option.  Of course he wants a better life for his people, and relief from economic sanctions, but not at the cost of risking the regime’s collapse.

          It is important to clarify that long before the DPRK developed its nuclear program, the US had already nuclearized the peninsula.  Although Paragraph 13 (d) of the Korean War Armistice Agreement forbade the introduction of any new weapons into Korea, in 1958, the Eisenhower administration deployed nuclear weapons to South Korea, in clear violation of this agreement.

          This was not an isolated incident either, as the US has a long history of breaking negotiated deals with rival nations.  In 1994, Bill Clinton negotiated the “Agreed Framework” in which the DPRK would shut down their graphite-moderated nuclear reactors, to be replaced with light water reactors (LWRs) to be provided by the US, with supplies of heavy oil being provided to them to provide energy in the interim.  George W. Bush then slow-walked providing the LWRs and stopped the shipments of fuel oil, leading the DPRK to restart the reactors to supply energy to their people.

          Bush then made the aforementioned WMD deal with Qaddafi, which the Obama administration failed to honor.  Obama then negotiated the JCPOA deal with Iran, which Trump backed out of.  Trump then opened dialogue with the DPRK, but the Biden administration quickly returned to “strategic patience” (i.e. giving them the silent treatment).

          No wonder they feel the need for a nuclear deterrent when our policy changes so dramatically every four years, making any negotiations effectively pointless. As Kim Jong Un told us, the DPRK policy is always consistent, but the US changes all the time, adding that if they don’t like what is happening, they just wait four years. After we brought a team of NBA players to Pyongyang in 2014, he further remarked that in doing so, we were the first Americans who ever kept their word. No wonder they don’t trust any security guarantees the US has offered them.

          Sanctions have been referred to as war by other means (with apologies to Clausewitz), and the US now has sanctions in place against more than 20 countries across Europe, Asia, Africa and Latin America. The most comprehensive sanctions are currently imposed against Russia, Iran, North Korea, Cuba and Venezuela, with sanctions against China growing at an alarming rate. At the same time, the Chinese Yuan is being used increasingly for international trade instead of the US dollar as a result of sanctions prohibiting many countries from using the US financial system.

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          The height of the sanctions absurdity was best illustrated when the DPRK was alleged to have sold ammunition to Russia in early 2024.  In response to this allegation, the US complained to Russia that they were violating sanctions against the DPRK, and the US complained to the DPRK that they were violating sanctions against Russia. Does the United States expect other countries to just starve to death under sanctions regimes because we said so?

          Is it perhaps more rational to imagine that our overuse of economic sanctions will inevitably create trading blocs and alliances among the countries subjected to them? Iran, Russia, China, and the DPRK have plenty of reasons to dislike one another. China and Russia have had a complex hostile relationship for centuries, with Chairman Mao seeking a better relationship with the US partially because he feared a Soviet invasion. Both China and Russia repeatedly voted in favor of all the sanctions imposed on the DPRK since 2006, because they did not want a nuclear North Korea in their backyard. Iran and Russia have a long history of tensions, as do Iran and China. And Iran and DPRK have only worked together in a partnership of convenience for the last 35 years because of their shared status as pariahs in the eyes of the USA.

          Despite the historical tensions between Iran, Russia, China, and DPRK, the sanctions regime has forced these countries into an alliance and trading bloc of convenience, and the US has nobody to blame but themselves.  It should surprise nobody that China and Russia want to get the UN out of the DPRK sanctions business. That Russia finally vetoed the continuing mandate for the Panel of Experts should come as no surprise – the only surprise is that it took them 18 years to get there.

          Tyler Durden
          Sun, 04/07/2024 – 18:40

        • Fast Feud: Shootings At Wendy's, Chipotle Go Viral
          Fast Feud: Shootings At Wendy’s, Chipotle Go Viral

          Two shootings at fast food restaurants in Democrat-run cities went viral last week, after enraged customers went off on employees during arguments.

          On Friday night, a trigger-happy customer got into an argument with a Chipotle employee near Detroit, reportedly over guacamole.

          According to Fox2, customers were eating when they heard an argument break out between another customer and an employee. When the employee went to the back of the restaurant, the customer walked around the counter and tried to shove food in his bag, when the employee intervened.

          “Then the employee came back, and they started fighting, and then we heard a gunshot and just ran out as quickly as we could,” one witness told the outlet.

          The employee was shot in the leg.

          A customer who recorded the incident said that the suspect “took his time getting out” after firing the gun.

          “I was in my car and I saw him walk out to his car, close the door, and just drive off — he didn’t speed off or anything, it was weird to see,” he said.

          The victim was transferred to a local hospital where he was listed in stable condition with a non-life-threatening injury, Fox News reports.

          The suspect, a 33-year-old male from Detroit, was arrested near the restaurant and the firearm recovered by police.

          Meanwhile at a Chicago Wendy’s, an employee was injured when a disgruntled DoorDash driver opened fire because the restaurant didn’t have any record of the order, CBS News Chicago reports.

          Via CBS News

          When the unidentified worker involved in the incident told the driver that the order did not exist, the two began arguing. When the worker notified her manager about the dispute, the driver shot into the building – during which bullets shattered the drive-up window and left the female worker with a wound to her right arm.

          The suspect in the Wendy’s shooting remains at large.

          Know who won’t get shot (with all food behind plate glass windows and a prison-style slot delivery)? 

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          Tyler Durden
          Sun, 04/07/2024 – 18:05

        • California Bill Would Create A Legal Right To Ignore Boss's Emails After-Hours
          California Bill Would Create A Legal Right To Ignore Boss’s Emails After-Hours

          Authored by Mike Shedlock via MishTalk.com,

          California Progressives seek a right ‘Right to Disconnect’ from corporate communications during nonworking hours…

          Right to Disconnect

          Please note that a California proposal would guarantee a Legal Right to Disconnect.

          The Assembly bill would grant employees a legal right to ignore an employer’s communications during “nonworking hours” except for emergencies or work scheduling.

          All employment contracts in the state would also have to clearly delineate working and nonworking hours.

          California’s Labor Commissioner could fine employers who violate workers’ “right to disconnect.”

          If an employer or a client experiences a problem on a weekend, tough.

          Managers couldn’t ask workers to help unless the problem is an “unforeseen situation that threatens an employee, customer, or the public; disrupts or shuts down operations; or causes physical or environmental damage.”

          The Labor Commissioner and courts would presumably define what is “unforeseen.”

          Matt Haney, the bill’s sponsor says “workers shouldn’t be punished for not being available 24/7 if they’re not being paid for 24 hours of work.” 

          The WSJ comments “Progressive ideas that originate in Sacramento have a habit of becoming mainstream in the Democratic Party, which is why we have to cover them.”

          If California wants to drive more businesses out of state, this would surely do it.

          California’s Deficit Is $222 Billion and the State is $1.6 Trillion in Debt

          Meanwhile, please note California’s Deficit Is $222 Billion and the State is $1.6 Trillion in Debt

          Governor Gavin Newsom bragged of a surplus, but California is seriously underwater.

          The next recession will hit the state extremely hard, and deservedly so.

          Tyler Durden
          Sun, 04/07/2024 – 17:30

        • A Market Chart Or A Rorschach Test
          A Market Chart Or A Rorschach Test

          By Peter Tchir of Academy Securities

          A Market Chart or a Rorschach Test?

          In one way, the week was quite simple. The S&P and Nasdaq dropped around 1% while 10-year yields popped 20 bps. Rate cut projections were slightly reduced and the likely start time was pushed back a touch. All seemingly “normal.” Then why the heck did we get a chart like this?

          I’ve produced some ugly charts in the past, but this is in the running for the worst of all time. I thought about trying to fix it up, but then figured, after a week like this, why not go for the full Rorschach test?

          There are three things that I see in this chart (I am a little bit scared about what a psychologist would make of my interpretation, but here goes):

          • There was no consistent narrative between stocks and bonds. At times we saw correlated moves, but then we saw just as many inversely correlated moves. Just like the Mag 7 is dead as a rule of thumb, the “bonds and stocks are correlated” rule of thumb might also need to be put away.

          • We had a legitimate “flight to safety” trade. The Nasdaq 100 was briefly down 3% from intraday high to intraday low (which had me feeling good about my fears that we could see 10% downside far more easily than 5% upside). The plunge in stock prices, accompanied by a rally in bonds, seemed to be spurred by fears about an imminent escalation by Iran. Since the initial fighting began last fall, this is the first time that I can really point to a moment where the geopolitical risk immediately and undoubtedly impacted markets significantly. I expect more geopolitical “shocks” in the coming days and weeks, so long as the market seems to by and large not be pricing in significant risk (the oil market is ahead of stocks and bonds on that). The rally in oil, which I expect to occur on any escalation or expansion, is why I don’t think that we will see a “true” flight to safety move, because I think that yields will come under inflationary pressure.

          • Liquidity is not deep. Whatever good mood I was in, after Thursday’s rapid decline, was undone. The day started fine, as overnight we reversed a little of Thursday’s move as nothing extraordinary happened with regards to Israel and Iran. Then payrolls beat the highest expectation (which I was leaning towards), and bond yields had the good sense to go higher (again, I think now that we’ve breached 4.4%, we go towards 4.6% on 10s). But stocks, after some early gyrations, decided to rally on the strength of the economy. Reasonable, but certainly bucking the theme that higher bond yields push stocks lower. At least that was how it worked until near the end of the day. From the trading on Thursday and Friday, with fairly large moves, I take away that there is very little depth to markets (and the day traders, 0DTE options, etc. are all amplifying moves).

          That is what I get out of that messy chart!

          What I Learned Last Week

          I learned a few things:

          • Geopolitical Risk may be back, and it isn’t being priced in. See Saturday’s SITREP – Iran Prepares to Retaliate.

          • The economy, at least based on jobs, has the potential to surprise to the upside.

          • Earthquakes, even “minor” ones, are really disturbing!

          • Guest Hosting TV is difficult.

          • The U.S. seems to believe that we can come to some resolution with China on trade, where we get the trade and benefits that we want, while limiting their access to high tech and other things that we don’t want them to have. I just don’t see that happening as discussed Thursday on Bloomberg TV.

          • There seem to be far more bond bulls than bears, as we breach 4.4% (good news as a contrarian).

          Bottom Line

          I am still nervous about equity risk, and still doubt that we will get any overall rotation (Russell did far worse than the S&P 500 this week). Energy is my favorite sector as I think that there are many tailwinds, plus you get the geopolitical tail risk for “almost” free (since I don’t think much is being priced in yet).

          I think that the 10-year is now moving into the 4.4% to 4.6% range. Maybe higher as the bulk of the move to this level has been due to diminished rate cut expectations, rather than an increase in risk premium. That should be coming, and I would like to see 2s vs 10s back to -20 or even closer to 0 than that.

          Credit will likely remain dull. No obvious catalysts for a big widening in spreads, but it is also difficult to see a reason for anything more than a small pullback in spreads. I do owe readers a “rotation” report on private credit, which got delayed with the craziness of this week.

          As Seargent Esterhaus liked to say, “let’s be careful out there” as the risks are mounting, and we’ve shown how susceptible we can be to them. On that note, please see the link to register for our Academy Securities Geopolitical and Macro Strategy Webinar on Tuesday April 9th at 1pm ET.

          Tyler Durden
          Sun, 04/07/2024 – 16:55

        • Georgia Students Shut Down Congressman In Latest "Deplatforming"
          Georgia Students Shut Down Congressman In Latest “Deplatforming”

          Authored by Jonathan Turley,

          We have another successful “deplatforming” of a speaker at a university this week after Rep. Mike Collins (R-GA) had to be removed from an event at the University of Georgia.

          This follows incidents discussed this week involving student protests at Tulane and Maryland.

          Rep. Collins was invited to speak on campus by the University of Georgia Turning Point USA chapter and College Republicans. His remarks, however, were drowned out by protesters screaming profanities and insults.

          Collins attempted to discuss the recent death of Laken Riley, who was allegedly murdered by an illegal immigrant while jogging at the University of Georgia.

          One student yelled “How dare you come on this campus and exploit Laken Riley’s death to push your xenophobic, fascist, racist, agenda…people are in this country legally and your f–king cops are gonna get them arrested and deported.”

          Others just shouted profanities like “F**k you, you’re a b***h” or told the congressman to “take your white supremacist rhetoric elsewhere, your neo-nationalist rhetoric elsewhere.” Others attacked him for his support of Israel.

          Some were led out of the event by police, but the coordinated interruptions succeeded and the congressman was reportedly escorted off campus.

          Some groups like the College Democrats had called for protests but it is not clear whether these groups participated in the disruptions during the events.

          Once again, this was done by students who were shown on videotape preventing opposing views from being spoken or heard on campus. The question is whether the University of Georgia will take steps to discipline the students and any groups who coordinated this effort. As discussed in a column this morning in the Hill, preventing free speech is not an act of free speech.

          The argument that stopping free speech is free speech is nothing more than a twisted rationalization. Protesting outside of an event is an act of free speech. Entering an event to shout down or “deplatform” speakers is the denial of free speech. It is also the death knell for higher education in the United States.

          The motto of the University of Georgia is Et docere et rerum exquirere causas, or “To teach, to serve, and to inquire into the nature of things.”

          That inquiry cannot occur through a filter of screaming profanities and abuse. It is good that the university had security to remove disrupters but that is not enough. These coordinated efforts often involve students who stand up in succession to keep an event from being held.

          If these “deplatformings” are to end, the university has to suspend or expel those responsible for such actions.

          Georgia must choose whether it will stand with free inquiry and free speech or whether it will yield to this entitled mob of speech-phobic students.

          Tyler Durden
          Sun, 04/07/2024 – 16:20

        • Iran Threatens Israel's Embassies: "No Longer Safe"
          Iran Threatens Israel’s Embassies: “No Longer Safe”

          The Iranian government is apparently seeking to capitalize on the Israeli public and leadership being on edge due to continuing fears that an Iranian retaliation attack is imminent after last week’s Israeli airstrike on Iran’s embassy complex in Damascus.

          An adviser to Iran’s supreme leader on Sunday has threatened to attack Iran’s embassies, or at least strongly suggested it could happen. “The embassies of the Zionist regime are no longer safe,” Yahya Rahim Safavi, senior adviser to Iran’s supreme leader Ayatollah Ali Khamenei, said according to ISNA news agency.

          Office of the Iranian Supreme Leader via AP

          He added that the Islamic Republic views confrontation with Israel as a “legitimate and legal right” — given that Israel has just escalated through an unprecedented attack on a sovereign country’s diplomatic facilities.

          Iranian state media in conveying Safavi’s words also featured graphics showing nine types of Iranian missiles that possess ranges capable of hitting Israel (see below).

          Defense Minister Yoav Gallant on the same day announced that Israel is prepared and is ready to respond. Israel has “completed preparations for a response against any scenario that would develop against Iran,” he said. Israel’s embassies and consulates around the world continue to be on a high state of alert.

          Meanwhile, an analyst from the Middle East Institute, Jason Brodsky, observed on Friday:

          There are reports Iran’s regime may be eyeing hitting an Israel diplomatic compound in a third country via drones & missiles. Israel maintains embassies in Bahrain; UAE; Jordan; Egypt; Azerbaijan; & Turkey. I would keep an eye on Jordan.

          Currently, Israel is bracing for an inevitable response, and is reportedly calling up extra reserve forces. Hezbollah could also open up a bigger war front:

          The leader of Lebanon’s Hezbollah movement said on Friday that Iran would inevitably retaliate after a strike — widely blamed on Israel — destroyed its consulate in Damascus this week, killing two generals.
          “Be certain that Iran’s response to the targeting of its Damascus consulate is inevitable,” Hassan Nasrallah said in a televised speech marking Quds (Jerusalem) Day — an annual day of pro-Palestinian rallies held by Iran and its allies.

          At least so far, the daily tit-for-tat fighting along Israel’s northern border has remained contained, but perhaps just barely. Israeli leaders have warned that all of Lebanon could be bombed back to the ‘stone age’ if Hezbollah starts a full war. Prime Minister Netanyahu earlier spelled out that if a retaliation attack should be launched on Israel from Iranian soil, then Israel would hit back directly at Iran with a “stronger” response. This scenario would likely spiral into a major regional war, something the Biden administration says it is seeking to prevent.

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          Meanwhile, in Gaza there’s been a surprise development Sunday. “The Israeli military says it has withdrawn its ground troops from the southern Gaza Strip, including Khan Younis, amid conflicting reports about the scale and duration of the disengagement,” writes Al Jazeera.

          “Today, Sunday April 7th, the IDF’s 98th commando division has concluded its mission in Khan Younis. The division left the Gaza Strip in order to recuperate and prepare for future operations,” the army said. One brigade has remained, and it’s unclear precisely what this means related to the planned Rafah assault.

          Tyler Durden
          Sun, 04/07/2024 – 15:45

        • Elon Musk Says X Will Defy Order From Brazil's Supreme Court After Twitter Files
          Elon Musk Says X Will Defy Order From Brazil’s Supreme Court After Twitter Files

          Authored by Melanie Sun via The Epoch Times,

          Owner of X Corp. Elon Musk said on the platform Saturday evening that the company had decided to lift all restrictions on Brazilian accounts targeted by an order from the nation’s Supreme Court.

          “We are lifting all restrictions. This judge has applied massive fines, threatened to arrest our employees and cut off access to 𝕏 in Brazil. As a result, we will probably lose all revenue in Brazil and have to shut down our office there. But principles matter more than profit,” Mr. Musk posted, notifying of X’s decision.

          The announcement came in response to reporting by investigative journalist Michael Shellenberger, and colleagues David Ágape and Eli Vieira, titled, “TWITTER FILES BRAZIL.”

          In his reporting, Mr. Shellenberger cites records released by X, formerly Twitter, during Mr. Musk’s 2022 takeover that allegedly show that “Brazil is engaged in a sweeping crackdown on free speech led by a Supreme Court justice.”

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          Sitting members of Brazil’s Congress and journalists were among those named by Brazil’s highest court for censoring, Mr. Shellenberger said of his findings, which he has shared on X.

          He named lower house members Carla Zambelli of former President Jair Bolsonaro’s Liberal Party and Marcel van Hattem of the NOVO party as targets of orders targeting posts the court deemed misinformation.

          According to the internal files Mr. Shellenberger shared, Twitter in Brazil was threatened with a $30,000 fine. The company had one hour to remove the Congress members’ posts or pay the court for noncompliance.

          The article reports that the justice had even been jailing individuals without trial for things posted on social media.

          According to Mr. Shellenberger, Supreme Court Justice Alexandre de Moraes allegedly made demands to Twitter to allow access to its internal data, in violation of Twitter’s own policies on the handling of user data.

          https://platform.twitter.com/widgets.js

          He also allegedly ordered that Twitter deplatform the individuals responsible for the specific posts that he wanted censored, “without giving users any right of appeal or even the right to see the evidence presented against them.”

          https://platform.twitter.com/widgets.js

          Brazil’s “Twitter Files” also show that the justice “sought to weaponize Twitter’s content moderation policies against supporters of then-president @jairbolsonaro,” Mr. Shellenberger said—a similar trend to what the “Twitter files” revealed was happening to former President Donald Trump and conservative voices in the United States.

          The origin of the order to censor Brazilians’ posts was also revealed in the internal Twitter files, Mr. Shellenberger said.

          Mr. Shellenberger said Justice de Moraes, Brazil’s Supreme Court (Supreme Federal Court), and Brazil’s Superior Electoral Court (TSE) declined to respond to the report.

          Last year, Justice de Moraes also ordered an investigation into executives at social messaging platform Telegram and Alphabet’s Google, who were in charge of a campaign criticizing a proposed internet regulation bill.

          The bill put the onus on internet companies, search engines, and social messaging services to find and report illegal material, instead of leaving it to the courts, and charged hefty fines for failures to do so.

          ‘Aggressive Censorship’

          Mr. Musk said of Brazil’s Twitter Files, which he released to Mr. Shellenberger, “This aggressive censorship appears to violate the law & will of the people of Brazil.”

          https://platform.twitter.com/widgets.js

          Journalist Paulo Figueiredo, who is a contributor to The Epoch Times and censored by the court order, replied, “You’re going to save my country. We could never repay you.”

          He had replied to an earlier post urging X not to comply with the court order, saying that the independent platforms Rumble and Locals did not comply.

          “You’re powerful enough to make a difference,” he said.

          Mr. Musk describes himself as a free speech absolutist. He said at the time when he bought Twitter that it was to create a platform where “a wide range of beliefs can be debated in a healthy manner.”

          Shortly after telling Brazil’s Supreme Court that his company would not comply with its order, he posted to X an image “For the people of Earth” of an X comprising of “FREE SPEECH.”

          Tyler Durden
          Sun, 04/07/2024 – 15:10

        • Millions Of New Illegal Immigrants Mask True State Of US Economy
          Millions Of New Illegal Immigrants Mask True State Of US Economy

          Authored by Emel Akan and Andrew Moran via The Epoch Times (emphasis ours),

          Economists are expressing concern over the increasing number of illegal immigrants in the United States, who they believe are obscuring the actual condition of the jobs market and the U.S. economy.

          (Illustration by The Epoch Times, Getty Images)

          For the last few years, the headline employment figure has been impressive. The country has recovered the lost jobs from the government-imposed shutdowns during the pandemic and added a few million more, despite a climate of high inflation and rising interest rates.

          In 2023, the economy added approximately 3 million new positions. To kick off 2024, more than 800,000 new jobs have been added.

          The labor market data is critical as it helps determine the Federal Reserve’s interest rate policy.

          Federal Reserve chairman Jerome Powell said on March 20 that the central bank is monitoring the labor market “very carefully” and isn’t observing any “cracks.”

          “We follow all the possible stories that are out there about there being cracks, but the overall picture, really, is a strong labor market,” he noted. “Things are returning more to their state in 2019.”

          However, a closer look at the household survey of the employment report reveals a more gloomy picture. Employment for native-born Americans has been in decline over the past four years. This means that all of the job gains have gone to foreign-born workers, including both legal and illegal immigrants.

          According to the Bureau of Labor Statistics (BLS), the number of immigrants—legal and illegal—working in the United States grew by 3.4 million between February 2020, shortly before the onset of COVID-19, and February 2024. The number of U.S.-born workers, however, declined by 78,000 during the same period.

          In addition, during the Biden administration, there have been approximately twice as many illegal immigrants as legal immigrants entering the country, according to a study by the Brookings Institution.

          “That’s a big problem,” says economist Stephen Moore.

          “What we’re interested in is how the economy is working for American citizens. So, we’re distorting the jobs market with all of the illegal immigrants,” he told The Epoch Times.

          Mr. Moore, who served as an economic adviser to former President Donald Trump, criticized the Biden administration for turning the U.S. immigration system “upside down.”

          He argued that the U.S. economy “desperately needs” more legal immigrants, who possess high skill levels or special talents, rather than illegal immigrants, who tend to be less educated.

          According to the Bureau of Labor Statistics (BLS), the number of immigrants—legal and illegal—working in the United States grew by 3.4 million between February 2020, shortly before the onset of COVID-19, and February 2024. The number of US-born workers, however, declined by 78,000 during the same period.

          Construction workers help build a residential building in Miami on Jan. 5, 2024. (Joe Raedle, Getty Images)

          ‘Very Troubling’

          The BLS includes illegal immigrants in the labor statistics, identifying them as “undocumented workers.” However, the agency doesn’t disclose the data publicly and instead groups legal and illegal immigrant job data together.

          Many economists have been surprised by the growing employment gap between native- and foreign-born workers since October 2019.

          The contrast in the past year is even more striking. According to the BLS, native-born employment fell by 651,000 in March 2024 from the same period last year, while foreign-born employment climbed by nearly 1.3 million.

          According to Steven Camarota, director of research for the Center for Immigration Studies (CIS), it is hard to know the exact number of illegal immigrants who have recently entered the country and found employment.

          However, he estimates roughly half of the job gains among foreign-born workers have gone to illegal immigrants over the last year.

          Mr. Camarota notes that the government should know all economic activity and job creation in America, so counting illegal immigrants is not a problem.

          “What I do think is problematic is that you can see a low unemployment rate and more importantly, lots of job growth, but almost all the job growth is going to the immigrants. That’s the distortion,” he told The Epoch Times.

          There were a total of 31 million immigrant workers as of March 2024, constituting nearly 20 percent of the U.S. labor force. Mr. Camarota estimates that at the beginning of this year, roughly 9 million of these workers were illegally present.

          The Congressional Budget Office estimated that the number of “immigrants with a nonlegal or pending status” increased by 2.4 million in 2023.

          This group includes individuals who have been apprehended and released into the country, individuals who have managed to evade the Border Patrol, officially known as “gotaways,” and individuals who have overstayed their visas. The figure is modified to account for deaths, legalizations, and departures.

          According to Mr. Camarota, the rise in illegal employment conceals the true state of the U.S. jobs market. There has been a concerning decline in the labor force participation of U.S.-born working-age men from the 1960s to the present. And this decline is more pronounced among the less educated.

          Globalization, outsourcing of jobs overseas, generous welfare and disability policies, and wage stagnation are among the factors that have contributed to this drop over the years, Mr. Camarota said.

          “That decline in labor force participation, particularly among U.S.-born men, is linked to many social problems, from overdose deaths to crime,” he said.

          Hence, he argued that the government is missing the overall picture by focusing on headline data and reporting strong job growth, and not saying it’s fueled primarily by low-wage illegal immigrants.

          “That’s very troubling,” he said.

          Another issue with more illegal immigration is that it drives down wages for American workers.

          According to EJ Antoni, an economist and research fellow at the Heritage Foundation, one of the key reasons President Joe Biden is polling so poorly among voters is “because they are not the ones getting the jobs.”

          As a result of the flood of cheap labor, American workers also earn less than they would otherwise, he told The Epoch Times.

          The Economic Policy Institute, a Washington-based think tank, rejects the notion that illegal immigrants are hurting U.S.-born workers.

          Experts Heidi Shierholz and Daniel Costa at the Institute wrote in a recent report that “the idea that immigrants are making things worse for U.S.-born workers is wrong.”

          “The reality is that the labor market is absorbing immigrants at a rapid pace, while simultaneously maintaining record-low unemployment for U.S.-born workers,” they stated.

          Read more here…

          Tyler Durden
          Sun, 04/07/2024 – 14:00

        • Goldman Offers "Burst Of Bullish Coverage" On Soaring Uranium Stocks
          Goldman Offers “Burst Of Bullish Coverage” On Soaring Uranium Stocks

          As we have been harping on for the last couple of years, uranium stocks – at the center of the thesis for the very common sense solution of nuclear power – are continuing their long awaited ascent. 

          As Bloomberg noted last week, the sector has experienced a significant boost, with spot prices surging 40% over the past year due to production challenges faced by Kazatomprom, the world’s largest miner, and potential U.S. restrictions on Russian supplies.

          The price soaring has come on the back of a “burst of bullish coverage from banks including Goldman Sachs”, Bloomberg writes. 

          The rise comes as nations increasingly embrace nuclear power to reduce emissions, as we have been saying would happen here on Zero Hedge every time we got the chance.

          Recently, the sector witnessed further demand, evidenced by the Global X Uranium ETF, which jumped 6% for its best performance since early February, driven by advances in companies like NuScale Power Corp. and Mega Uranium Ltd. Cameco Corp., the largest uranium miner in North America, saw a 14% increase after receiving a buy rating from Goldman.

          Michael Alkin, chief investment officer at Sachem Cove Partners said: “Goldman’s initiation opens the whole universe up.”

          Alkin launched his fund focusing on uranium miners and physical uranium in 2018, a period when the sector was largely overlooked. Alkin notes that interest has since expanded beyond the major miners to include mid-sized and exploratory firms.

          Sachem Cove, holding stakes in Cameco and Denison Mines, also supported Premier American Uranium’s IPO in 2023, with the stock surging nearly 70% this year. Moreover, analysts are broadening their coverage to encompass a wider array of uranium stocks, even those yet to establish their first mines.

          For instance, Scotia Capital initiated coverage of NexGen Energy Ltd. with an outperform rating on April 1, as the company advances towards developing Canada’s forthcoming uranium mine, the report says. 

          Recall we noted just days ago that uranium projects were jumping back online and that uranium’s price was set to soar. Jonathan Hinze, president of UxC, a nuclear industry research firm told Bloomberg on March 22: “We have reached a bottom. The fundamentals are still strong, with increased demand and supply that hasn’t fully responded.”

          According to Cantor Fitzgerald analyst Mike Kozak, there’s evidence to suggest that uranium prices have stabilized. Kozak forecasts a resurgence of fundamental buyers in the market, which is expected to propel prices upwards once more, Bloomberg wrote this week. 

          Optimistic investors are focusing on uranium’s future, driven by an increasing supply shortage and higher demand, as nations (finally pull their heads out from their a** and) seek nuclear energy solutions for climate change.

          In the wake of the 2011 Fukushima nuclear disaster, uranium mining in the United States, particularly in Wyoming, Texas, Arizona, and Utah, experienced a significant downturn.

          This decline wasn’t helped by uranium prices plummeting and nations such as Germany and Japan moving away from nuclear energy. However, as global efforts to reduce emissions renew interest in nuclear power, and as leading uranium producers face challenges in meeting demand, prices for the metal have risen sharply, a new Bloomberg report says.

          This resurgence in prices is offering previously unprofitable American uranium mines an opportunity to re-enter the market and address the supply shortfall.

          According to the report, as the Prospectors & Developers Association of Canada’s annual meeting takes place in Toronto, attracting thousands from the mining industry, uranium will be a key focus.

          Tyler Durden
          Sun, 04/07/2024 – 13:25

        • People Are Not Inflation Idiots
          People Are Not Inflation Idiots

          Authored by Jeffrey A. Tucker via The Epoch Times (emphasis ours),

          (BearFotos/Shutterstock)

          Commentary

          There’s something about employed intellectuals. When they are trashing popular wisdom and perceptions of regular people, they are truly in their element.

          They love nothing better. It’s a way for them to show off their superior understanding, flash their credentials, and dazzle others with the merit of their time and expense in schooling. It justifies their social standing and income. And it assures their jobs.

          Where would we be without them? Wallowing in ignorance, no doubt.

          The trouble is that very often the popular wisdom is correct whereas the intellectuals are wrong.

          We’ve seen many examples of this recently with regard to inflation. It seems that most people think it is getting worse and going in the wrong direction. A recent poll of swing-state voters shows that 74 percent of people say exactly this.

          By wrong direction, plain English means: prices are not going down but rather still going up faster than one would desire.

          In fact, the commodities markets seem to agree. Look at the record gold and Bitcoin prices. Even the Federal Reserve is worried.

          But the Wall Street Journal’s (WSJ) Greg Ip explains that the notion that inflation is still bad and even worsening is “simply not true. I’m not stating an opinion. This isn’t something on which reasonable people can disagree. If hard economic data count for anything, we can say unambiguously that inflation has moved in the right direction in the past year.”

          He goes on to explain that over 12 months, the pace at which inflation is worsening is getting worse at a slower pace than previously. This is what Ip calls moving in the right direction. You can tell yourself that as you put on less weight this month than last, but it would not be a good idea to confuse this with losing weight.

          As for prices going down, Ip sniffly dismisses that idea: the price level “rarely goes down.”

          Oh.

          And if someone asks how your diet is going, you can do the same and tell them with absolute certainty that actually losing weight is out of the question.

          Mr. Ip is certain that a move from 6 percent to 3 percent inflation is a fall, even though it is really only a slower pace of rising and therefore not really an improvement. He would see this if the numbers were different. What if inflation were running at 40 percent and then rising only 35 percent? Would Ip dare go to print with an article claiming that inflation is improving? Not likely.

          Sorry but most people think that an improved and even repaired inflation would restore prices to their 2020 level. That’s not going to happen but that’s actually what most people would like. And I agree. My own sense is that many people are only coming around now to the realization that what happened to us has done permanent damage to purchasing power.

          It’s not a good sign that the Biden administration seems to think that the solution is jawboning package sizing back up!

          In any case, it’s not even necessarily true that the pace of increase is improving. The latest read of the official CPI (consumer price index) shows that it is going up higher than it did in June 2023. So even by that standard, the popular wisdom is more correct than the experts. By some measures, inflation is worsening at a faster pace.

          Also, we are all a bit gun-shy. Who is to say that the next round of brutal inflation is not waiting just around the corner, in a repeat of the 1970s?

          (Data: Federal Reserve Economic Data (FRED), St. Louis Fed; Chart: Jeffrey A. Tucker)

          And have a look at food prices, up 35–50 percent since 2019 and still rising. It’s not even of this world to tut-tutting people for feeling that this much of an increase in 5 years amounts to getting worse.

          (Data: Federal Reserve Economic Data (FRED), St. Louis Fed; Chart: Jeffrey A. Tucker)

          Or just have a broad look at prices generally. No matter what the experts say, we are daily slammed with sticker shock. Remember that people do not buy all the products and services in the CPI daily. They encounter each price increase only in the course of their usual buying habits. It it has been nothing but bad news every time you take out your wallet.

          (Data: Federal Reserve Economic Data (FRED), St. Louis Fed; Chart: Jeffrey A. Tucker)

          When major journalistic venues come out and say “Oh it’s not that bad, so stop complaining,” it only discredits them.

          In addition, Ip complains as follows: “By more than 2-to-1 (56 percent to 25 percent), respondents said the economy had gotten worse rather than gotten better over the past two years. That is difficult to square with robust employment growth, unemployment near its lowest in half a century, or growth in gross domestic product, which actually accelerated last year.”

          Here again, the popular wisdom is smarter than the experts.

          The jobs data has already experienced a major debunking. Full-time positions are giving way to part-time positions, mostly held by immigrant populations. This is a major factor as to why the establishment and household surveys have diverged so much over the last several years. The job market is not healthy. It is sick, with a continued lack of labor participation and worsening conditions for professional workers.

          It’s not obvious from a superficial look at the data but it is clear from a deeper look.

          Even the WSJ admits this in a separate piece: “the household employment figures haven’t just shown slowing job growth in recent months, but outright deterioration.”

          Oh!

          Another corrective comes from the Philadelphia Fed: “In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period.”

          By now, you surely also know that the GDP data cannot be trusted. It is ginned up by government debt and spending, without which the United States would likely already be in recession. This little tool of analysis was invented in the 1940s and heavily informed by bad economic theory but it somehow survives as a credible estimate of output. It absolutely is not.

          Let’s return to inflation now.

          It’s not just that rising prices are bad and eat into the standard of living. It’s also the case that the current CPI is wildly underestimated. Adding in the interest-based cost of borrowing puts last year’s inflation rate at 18 percent, which is far worse than we ever saw in the late 1970s. If we add to that the way inflation used to be calculated complete with a correct estimate of health-insurance costs, we are going further still. We could be looking at 20-plus percent on an annualized basis.

          All the assurances we get from official economists that life is great achieve absolutely nothing in terms of convincing the public that what they are seeing all around them is not true. The instincts of the public are absolutely correct, contrary to the one thousand articles pouring out of the legacy media that say otherwise.

          I’ve always enjoyed Greg Ip’s writing simply because he is a trained economist and speaks the language well. It’s sad (to me) to see his writing go the direction of becoming straight-up Biden administration propaganda.

          Remember that line about how inflation was merely “transitional?” They are still saying that after three years.

          Let’s face it: many such voices have disappointed us over these past few years, as many journalists and intellectuals have put career over integrity in their jobs.

          We know this and see this every day. Still, it never stops disappointing me. Regardless, the public is not listening. Indeed, they have stopped reading, which is why the payrolls of mainstream venues keep shrinking more and more.

          Meanwhile, as the intellectuals scribble their excuses, public fury is on the rise.

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

          Tyler Durden
          Sun, 04/07/2024 – 12:50

        • Intel Community Warns Of "Possible Threats To Public Gatherings" Across US
          Intel Community Warns Of “Possible Threats To Public Gatherings” Across US

          In early March, FBI Director Chris Wray warned a Senate panel that dangerous individuals had entered the United States illegally at the southern border.

          “We have had dangerous individuals entering the United States have a variety of sources,” Wray said at the annual “Worldwide Threats” congressional hearings. 

          Fast forward to Friday, an ABC News report citing a US intelligence bulletin warns that “radicals in the US might respond to ISIS calls for similar attacks in the wake of last month’s deadly terrorist attack at a concert hall in Moscow.” 

          The bulletin said “lone wolves” might be compelled to attack public venues following the attack at a popular concert hall complex near Moscow last month. It warned that individuals who are not members of ISIS could also unleash attacks. 

          https://platform.twitter.com/widgets.js

          Given this new warning, and what has the national intelligence community up at night, is President Biden and Democrat’s disastrous open southern borders that flooded the nation with millions of unvetted migrants – some of whom are military-aged men from countries that deeply hate America. 

          https://platform.twitter.com/widgets.js

          The hearing last month with Wray emphasized how the nation is more vulnerable than ever because open southern borders have allowed bad actors to infiltrate deep within the borders under the guise of ‘migrants.’  

          In late March, Sen. Marco Rubio (R-Fla.), the vice chair of the Senate Intelligence Committee, warned ABC’s “This Week” that human smuggling group with reported ties to ISIS will “most certainly use [their network] to move operatives into the United States.”

          Just days ago, a US counter-terrorism official told the New York Post that ISIS-K terrorists are growing “bolder,” and its members could be preparing to flood the nation through the southern border. 

          The source warned: “An attack on US soil is definitely a possibility.” 

          Meanwhile, a rogue Iranian assassin is already roaming the US, hunting for current and former government officials. 

          And, remember last month when New York Governor Kathy Hochul mobilized 1,000 National Guard troops and State Police officers, some of whom were armed with machine guns, to patrol NYC’s subway system. This kind of response by the government wasn’t due to migrants but likely terror threats. 

          All of this is happening right before the elections… 

          Tyler Durden
          Sun, 04/07/2024 – 12:15

        • Former Hunter Biden Associate Tony Bobulinski Sues Rep. Dan Goldman For Defamation
          Former Hunter Biden Associate Tony Bobulinski Sues Rep. Dan Goldman For Defamation

          Authored by Ryan Morgan via The Epoch Times (emphasis ours),

          Tony Bobulinski, a former Biden family business associate and witness in an ongoing Republican-led impeachment investigation, has filed a lawsuit against Rep. Dan Goldman (D-N.Y.) accusing the lawmaker of defamation.

          (Left) Tony Bobulinski, on Oct. 22, 2020. (Right) Rep. Dan Goldman (D-N.Y.) on Jan. 27, 2023. (Mandel Ngan/AFP via Getty Images; Anna Moneymaker/Getty Images)

          The lawsuit, filed in a federal court in Washington and first reported by The Daily Caller on Friday, accuses Mr. Goldman of repeatedly lying about Mr. Bobulinski following a heated exchange at a recent congressional hearing. According to Mr. Bobulinski’s complaint, Mr. Goldman defamed the former Biden business associate in a series of posts on social media by alleging Mr. Bobulinski “has used a Trump campaign-paid lawyer to make false allegations” and that his testimony before Congress was “Russian disinformation.”

          Mr. Bobulinski’s complaint says he has spent over $500,000 of his own money on legal fees and neither former President Donald Trump nor any Trump-affiliated entities “have ever paid” for any of those legal fees, contradicting Mr. Goldman’s assertion. The complaint also insists Mr. Bobulinski has not made any false allegations before Congress, as claimed by Mr. Goldman, nor have his claims originated from Russian disinformation.

          The lawsuit follows through on a threat Mr. Bobulinski made last week that he would seek recourse through the courts if Mr. Goldman didn’t delete his offending social media posts and publicly retract his statements about Mr. Bobulinski. The legal filing on Friday states Mr. Goldman neither responded to, nor complied with the request for a retraction.

          Mr. Bobulinski worked with President Joe Biden’s son Hunter Biden on a business venture involving a Chinese energy firm called China Energy Company Limited. He has alleged the elder Biden was aware of his son’s foreign business dealings and even personally benefited from those dealings, despite the elder Biden’s repeated public statements to the contrary. Mr. Bobulinski has shared these allegations with House Republicans leading an impeachment inquiry into whether President Biden had engaged in influence peddling to advance his family’s business dealings.

          The lawsuit alleges that Mr. Goldman made the contentious claims about Mr. Bobulinski to discredit him and the impeachment inquiry. Mr. Bobulinski’s legal team argues the lawmaker’s statements constituted defamation per se for falsely claiming Mr. Bobulinski lied before Congress, and defamation by implication for suggesting President Trump has paid for Mr. Bobulinski to bring claims about the Biden family before Congress.

          Mr. Bobulinski’s lawsuit alleges he has suffered personally from mental anguish and has endured reputational harm impacting his business ventures and professional work as a result of Mr. Goldman’s claims. He is seeking an award of compensatory, special, and punitive damages totaling $20 million.

          NTD News reached out to Mr. Goldman about the lawsuit but did not receive a response by press time.

          Bobulinski Goes on Legal Offense

          The lawsuit against the New York congressman is just one of three defamation claims Mr. Bobulinski is advancing.

          Mr. Bobulinski filed a lawsuit on March 4 against former Trump White House aide Cassidy Hutchinson, alleging she had defamed him by claiming former White House Chief of Staff Mark Meadows had handed him a folded-up note or envelope at a secretive meeting outside a Trump campaign rally in Georgia in 2020.

          Mr. Bobulinski has denied claims that Mr. Meadows had handed him anything during the 2020 encounter and argued Ms. Hutchinson’s claims were meant to cast “an innocuous interaction” between the two men as an illicit, immoral, or even illegal encounter.

          The businessman also filed a defamation complaint against liberal political strategist and Fox News commentator Jessica Tarlov last week. That complaint alleges Ms. Tarlov, who works as a rotating co-host on Fox News’ “The Five” program, defamed Mr. Bobulinski during a March 20 episode by saying a Trump Super PAC had played a role in covering Mr. Bobulinski’s legal fees.

          Ms. Tarlov modified her original claim in a March 21 follow-up.

          “During an exchange with my colleagues about the hearing, I said that Mr. Bobulinski’s lawyers’ fees have been paid by a Trump super PAC as recently as January. What was actually said during the hearing was that the law firm representing Mr. Bobulinski was paid by a Trump PAC,” she began. “I have seen no indication those payments were made in connection with Mr. Bobulinski’s legal fees and he denies that they were.”

          Mr. Bobulinski’s lawsuit argues Ms. Tarlov’s March 21 clarification was “half-hearted, incomplete, and unacceptable” and called on her to issue a more clear-cut apology but that she refused.

          Tyler Durden
          Sun, 04/07/2024 – 11:40

        • Fixing FDR's Biggest Blunder: From Gold Standard To Fiat Folly And Back
          Fixing FDR’s Biggest Blunder: From Gold Standard To Fiat Folly And Back

          Authored by Jp Cortez via The Epoch Times,

          Today, states across the country are beginning to actively embrace pro-sound-money legislation, inviting a critical examination of how America abandoned the gold standard of money and racked up $34.5 trillion in debt. To understand how we got here, it’s important to understand the policy that initiated our monetary decline.

          More than ninety years ago today, April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, forever reshaping America’s monetary system.

          This controversial order marked a pivotal moment in the nation’s financial history. Executive Order 6102 banned private ownership of gold coins, bullion, and gold certificates with the penalty for noncompliance being up to ten years in prison, a fine of $10,000, or both. This draconian edict also signaled the effective end of the gold standard.

          America did not always have unbacked paper money. In fact, America’s founders spilled a lot of ink warning against the risks and ravages of fiat currencies.

          In 1786, George Washington wrote to Thomas Jefferson: “Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

          James Madison wrote that “paper money is unjust” and “unconstitutional.”

          To enshrine honest money, they considered gold and silver to be the foundation. Gold and silver are notably the only form of money mentioned in the United States Constitution (Article I, Section 10): “No State shall . . . make any Thing but gold and silver coin a tender in payment of debts.”

          The Coinage Act of 1792 established the US Mint and regulated the coinage of gold, silver, and copper coins. The dollar was defined in terms of a specific weight of silver or gold, providing a tangible link between the currency and precious metals.

          Under the gold standard, the US dollar was directly convertible to a fixed amount of gold. This system provided stability and confidence in the currency, as the value of money could not be printed ad nauseam but was tied to a tangible and finite resource.

          As the nation expanded and industrialized, the gold standard emerged as a cornerstone of America’s economic might, and the gold-backed US dollar would eventually become the world’s reserve currency. The gold standard buttressed the Gilded Age of the nineteenth and early twentieth centuries, providing a necessary, if not sufficient, condition to unseen leaps forward in economic stability, international trade, and human prosperity.

          In response to the economic turmoil of the Great Depression, President Franklin D. Roosevelt banned private ownership of gold with Executive Order 6102, marking an important nail in the coffin of the gold standard in the United States.

          In 1933, Congress passed the Gold Reserve Act, which granted the president the power to further manipulate America’s currency by adjusting the gold content of the dollar.

          Subsequently, President Roosevelt devalued the US dollar by increasing the price of gold.

          In 1934, the Gold Reserve Act allowed the government to hold gold at a higher price, effectively devaluing the dollar and further detaching it from its gold-backed origins.

          Toward the end of World War II, a new international monetary system was created at an international conference in Bretton Woods, New Hampshire, in 1944, pegging major currencies to the US dollar, which remained convertible to gold. However, mounting economic pressures and trade imbalances eventually led to the “temporary” abandonment of the gold standard in 1971 under President Richard Nixon.

          Nothing is so permanent as a temporary government program.

          Today’s Federal Reserve note is printed endlessly and spent haphazardly, unshackled from any restraint. As a consequence, the national debt is now growing at a rate of $1 trillion about every 100 days.

          According to economist Michael Bordo, the gold standard provided long-term stability, evidenced by an average annual inflation rate of 0.1 percent between 1880 and 1914 as compared to the average inflation rate of 4.1 percent from 1946 to 2003.

          The abandonment of sound money principles allowed for unprecedented government spending, particularly during times of war. With the ability to print fiat currency unconstrained by the discipline of a gold standard, the government financed World War II and subsequent conflicts through inflationary measures.

          The government’s ability to print endlessly has enabled endless war. This unchecked power to create currency out of nothing has not only led to an expansion of the national debt but also facilitated increased expansion of controversial and fiscally unsustainable policies, such as the literal Ponzi scheme that is America’s entitlement programs.

          Restoring sound money is an uphill battle, but significant victories are being won across the country. In 2023, the Sound Money Defense League effectively helped pass sound money legislation in Tennessee, Mississippi, Oregon, Arkansas, and Florida.

          So far in 2024, governors in Utah and Wisconsin have signed prosound money legislation into law. Other sound money legislation has already been introduced and advanced in Oklahoma, New Jersey, Idaho, Iowa, Nebraska, Kentucky, Georgia, Utah, Alaska, Hawaii, Kansas, Louisiana, Mississippi, Missouri, New Hampshire, North Carolina, Tennessee, Vermont, and West Virginia.

          April 5, 1933, may be a somber chapter in American history, but one hopes for a brighter future ahead.

          Today, states themselves are actively engaged in the pursuit of sound money and its underlying principles of freedom, stability, and fiscal responsibility for a more prosperous tomorrow.

          Tyler Durden
          Sun, 04/07/2024 – 10:30

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        Apr 07

        Today’s News 7th April 2024

        • America Is Hurtling Toward A Full-Blown Hot Civil War
          America Is Hurtling Toward A Full-Blown Hot Civil War

          Authored by Justin Smith via The Burning Platform blog,

          It never ceases to amaze me at how little so many people in this country have done to train their minds to critically analyze information. They have eyes to see and ears to see, and yet, somehow the truth of any major issue still seems to evade them, or they simply refuse to recognize the truth with it standing right in front of them, slapping them in the face.

          So many things are currently plumb damned fouled up by this Biden regime and going awry on their own through the dynamics set in motion by this anti-American, lawless regime, that it’s nearly impossible to properly address them all in a single commentary. But I’ve tried to give the Reader as comprehensive an assessment as I possibly can with this piece.

          Michael Savage, a longtime renown radio host, was fond of noting that “liberalism is a mental disorder” and we’re witnessing the result of its heavy utilization for far too many years without being grounded in common sense and a certain amount of pragmatic realism. And so here we are, on the cusp of the final fall of America, short of a miracle from God or true patriots taking a firm stand with rifles in hand and refusing to give an inch of ground and any further movement towards the new world order desired by our amerikkan commies.

          It might sound quaint and out of touch with what some have now accepted as “the new normal”, but I say we should all wrap ourselves in the American Flag and send out the clarion call for a rush of strong, capable men to come to the aid of their country, in a manner as never before.

          ~ J.O.S.

          “I may be crazy. But it’s no measure of health to be well-adjusted to a profoundly sick society.” ~ Ivor Browne, Professor Emeritus of Psychiatry at the University College Dublin [2017]

          In an ideal and perfect world, all Americans would be following a righteously guided conscience and their better angels, and they could trust that their elected leaders were doing likewise; but, we live in a far from perfect world or society, and the fools of the country have abandoned Christian kindness, the Golden Rule and humanity for the evil of trans-humanism. Heartwarming words advocating for true freedom and liberty are far and few between in today’s society and political arenas, in a manner not too unlike the years between 1850 and 1860 that led to the Civil War; and tho’ some on both side of the political aisle still exude goodness in a way that makes each day seem a bit brighter, by and large, the Democratic Party has been completely infiltrated by Marxist-Maoist Communists, who are driving the nation towards the darkest tyranny and bloodiest days ever witnessed in America, as they attempt to stamp out the tenderness and beauty in each person’s soul and reduce us all to mere mindless cogs in their authoritarian machine.

          Look around. Half or more of America’s citizenry have lost their minds and are six steps or more removed from reality, either due to the mind-numbing communist indoctrination they have absorbed from their “education” in the public school system, something genetic or a trauma from their life, some new maniacal drug that has them hooked and out of their minds, or a combination of all three.

          Some would suggest that we set about immediately reforming public education to promote and defend the ideas that originally built America, but we don’t have time to change hearts and minds to counter a movement that started over a hundred years ago and now sits on the cusp of being able to solidify its current stranglehold on America, if the tide swings its way in the 2024 Election or they are able to steal the election through current fraud facilitating mechanisms. Although we can still move to properly educate the next generation in a newly reformed education system or through homeschool, now is the time to organize and assemble those within the country who already know and hold to the truth of American principles and all the freedom and liberty that follow — time to gather our like-minded American patriots and those Lions of Liberty who have had enough of witnessing this America we love so well so sorely abused, put upon and assaulted.

          It doesn’t help when we have self-serving, corrupt people in high office promising to save the gullible and ill-informed from their hell and the misery it brings, if only they will support more madness to be placed in U.S. code. Vote for more economy killing “climate change” change regulations and initiatives and “we’ll put more money on your EBT cards, courtesy of Uncle Sam and the American taxpayer”. “Help us make sure the government has the final say over everybody’s children and can kill babies as they exit the birthing canal, and we’ll make certain you get privilege over all other Americans”, one can almost hear Traitor Joe whispering in some dimly lit concert hall. “You can be a champion among champions”, they say — “Let us help you change your gender”.

          And if anyone stands in your way in the pursuit of any evil, it is they who will be called evil and fallen upon by the full weight of the U.S. Federal Government.

          Oh yea. And as if that isn’t bad enough, Biden is now moving as fast as he can to forgive $144 billion more in student loans. He plans to announce this on Monday, April 8th 2024, and for anyone with eyes to see, this is simply corruption at its worst and Biden buying votes in the upcoming presidential election. What a slap in the face of Americans who couldn’t afford to go to college but now will be forced to bear the tax burden this move will bring.

          I see the immorality growing every day, the people who revel in its evil, freaks from some futuristic sideshow that bodes ill and speaks to the destruction of humanity. and with each passing day, I find myself moving farther and farther away from those with whom I have little or nothing in common with, adrift from most of humanity too. Not in any manner that lends itself to any sadness over my situation, but rather as if to say “whew” in a realization of the relief that has come by way of my separation from those I despise most.

          It’s sort of like I’m standing on the river bank watching the “ship of fools” sailing over the river falls in denial of their own mortality, thinking their crazy ideas will save them and hold them invincible, or worse, knowing they are going to die and not caring who they drag to Hell along with them. They think we’re crazy for defending America’s righteous and true founding principles and virtues and the liberty associated with them, and we think them mad for denying God, reality and the best mankind has to offer in exchange for an evil, unrestrained, immoral freedom that is no freedom at all, a bringer of Death.

          Since 1965, the communists within the federal government, Congress and many state and local governments have essentially separated us and pitted us against one another as one aggrieved group or another, some special interest and through identity politics and racial hatred. They broke us into tribes and acted as if the represented each, all the while setting in place mechanisms that made us serfs to the government, The Leviathan, and reducing us all to poverty as they have gradually destroyed the bulk of the middle class in our country. The Constitution is so degraded and eroded now that any tyrant can impose his will by way of one flourish of a pen, which Traitor Joe has done through 118 executive orders, bypassing Congress and the U.S. Supreme Court.

          We have a national debt that’s rapidly approaching $35 trillion and counting, that to be sure rests on the shoulders of both parties, but it couldn’t have arrived to this abysmal point without both Marxist-Maoists and RINOs accepting the tenets of the Marxist-Keynesian Modern Monetary Theory and the notion that any one nation could print and borrow an endless supply of money forever without any terrible consequence, which is currently being proven wrong. Our people struggle to pay for food and rent and new high mortgage rates have put home ownership out of reach for this new Generation Z that is coming up and expecting a successful way of life to be attainable in some form or fashion, even tho’ many of them are a great part of the problem, some thirty percent claiming to be either queer themselves or supportive of the LGBTQ sickness running rampant through American society, advocating for every known sexual perversion and deviancy one might care to mention.

          Several decades ago, I realized every government in the world was using a Keynesian debt-based system, printing money as if there was no end to real assets or backing for it. Basically, the world had gone mad, as the greed of its so-called “leaders” knew no bounds, and the various governments of the world basically accepted the use of monopoly money. The charade is ongoing and the casino open, that is, ’til those at the very top decide to call in their markers and usher in the final forced phase of The Great Reset.

          In 2008, as I watched the near total collapse of our economic system and heard George [Bush] say that we had to temporarily abandon the free market capitalist system in order to save it, I received a strong sense that America may have peaked and was as good as it was going to get from there on out. I had a feeling that things were only going to continue to decline, especially as one major corporation after the next receive a taxpayer funded bailout after being deemed “too big to fail”.

          In unbelievable fashion, when the largest economic collapse in U.S. history hit in March 2020, to be followed by the Covid Lockdowns, pushed and kept going for years by traitors to America, such as Dr Anthony Fauci and Dr Deborah Birx, many of us saw it for the fraud it was. Still, whole swaths of our cultural freedoms and norms were very nearly destroyed, as a timid American people complied, by and large, because they couldn’t simply stand on their hind feet and tell the government despots “NO”. Even now, as many careers no longer exist and jobs are disappearing like cotton-candy on a rainy day, far too many, especially the communists among us, hold to the delusion that all is well and deny that out-of-control spending and massive national debt really do matter for the health of the nation’s economy.

          Who could have possibly known at the time — other than those Deep State bad actors behind the curtain — that this was a dire harbinger of things to come and but one of the first precursors to a validation of this current system of economic fascism as the preeminent and defining feature of what everyone still mistakenly calls our “free market capitalist system”. Who knew that — if one believes Obama and now Biden — the cure for debt was more debt; the cure for greed was more greed, and that envy of the neighbors’ possessions was perfectly acceptable, even if one easily walked on over to take them by force, through armed robbery. And who could have foreseen that every Marxist-Maoist of the Democratic Party would become modern day Jezebels, condemning the innocent by way of one false accusation after another, paving the way for a vile new phenomena and way of life for the misguided youth of America.

          But never in my wildest imagination did I expect to see every single government institution corrupted to its very core and heavily infiltrated by men and women seeking to destroy traditional America — to “transform America” — and bring great harm to all Americans in the process, as evil was called “good” and good was called “evil”, turning the world upside down as foretold in Isaiah 5:20, as we all witnessed in 2020, driven by the Democratic Party Communists and fascists and globalists of the country, for the most part. Never did I expect to see U.S. science so corrupted and in denial of real science, reality itself, as supposedly “educated” people were soon trying to convince the entire nation that men could really become women and women could become men — that men actually have periods and can have babies.

          And as the American people continue to fail to mount a strong and passionate rejection or effective defense against the current climate change directives from the Biden regime, the Biden regime has just recently [January 26th] ordered our international export of natural gas and natural gas extraction to be placed on hold; and it’s still on hold as of this writing [April 5th], while its impact on the environment is further scrutinized. And in the meantime, the movement towards greater control over our society by way of a digital currency is gaining momentum.

          I don’t think the Biden regime is going to be able to control much of anything once they completely destroy America’s energy infrastructure and our efficacy as an worldwide energy powerhouse, as we were under the Trump administration. It’s going to be damned difficult to control anything without electricity, fossil fuels or heat, and all hell will be unleashed once Americans start being forced to sit in the dark, shivering in the cold or sweltering in the heat.

          When I hear Rachel “Mad-Cow” Maddow and Chris “Cry-baby” Matthews talking about Republicans who support Trump being members of a cult with “crazy ideas”, I think how ironic, that they are perfectly describing themselves and their ilk. They are so insane that they don’t even recognize themselves in that description or what it is that they don’t know; they call themselves “the normal people” as their despot leader, Traitor Joe, dismantles and tears the American republic down around the shoulders of all Americans.

          In listening to many proponents of the Democratic Party Communist platform and agenda — Representative Alexandria Ocasio-Cortez, Senator Nancy Pelosi and Senator Chuck Schumer for three in particular — I cannot help but wonder when did the wards for the mentally ill release all the inmates. And so here we are in America, where the inmates of mental institutions, federal prisons, Illegal Aliens, drug dealers and sexual deviants and child predators are running the country and the Oval Office today.

          I have noted in several past articles, I do believe the “united States” is currently hurling down a path on a fast track to a full blown, hot civil war. What will emerge will either be a nation squashed under an iron-fisted communist government or a people united in freedom and liberty under a limited government, restrained from ever growing or overreaching as the current Federal System has allowed and the Biden regime has done, trampling on the entire Constitution and our Inalienable God-given Rights in the process.

          Although I refuse to accept any excuse for the far-reaching, incredible and massive ignorance of so many of my countrymen in this day of the internet and information, with books aplenty in every public library too, there are an unbelievable number who accumulate scores, even hundreds, of bits and pieces of the bigger picture without the ability or the will to put them together to reach any worthwhile conclusion aimed at formulating a proper course of action to resist this current totalitarian-minded movement and save themselves, their families and communities and America herself. They do not currently seem to have any real sense of urgency, unless one looks at leadership in Texas and Florida and the current manufactured border crisis.

          Twenty-five state governors stood alongside Governor Abbot of Texas in the border dispute with the Biden regime, and the Governor of South Carolina sent his own National Guardsmen to the border to assist the Texas National Guard and Texas’s various law enforcement agencies who are in this struggle for America’s survival. So although I was speaking of the average citizen in the preceding paragraph, there are some holding key positions who see the rapidly approaching existential threats to all America and are reacting with a high level of urgency and accordingly, using everything within their power to stop this one segment of the madness emanating from the Biden regime.

          America has been cleaved into two separate and antithetical ideologies — two opposing worldviews — with the communists and radical takers of the country supporting a dark vision of tyranny and the conservatives and independent producers supporting the light of truth and a vision of freedom and liberty. They are both hanging in the balance and waiting for gravity or some monumental event to throw the lever that moves them to act and take the country by storm, with the Democrats willing to use every illegal means imaginable.

          The heavy infiltration of Illegal Aliens from many foreign countries that are unfriendly or outright enemies of America is one more dynamic and issue of concern for all who love America, since they will certainly come down on the side which is trying to destroy America. No one should be oblivious to the fact that various “sleeper cells” of Hamas and Hezbollah have been in America for several decades now. Taken in conjunction with thousands of military aged Chinese men entering the country illegally the coming chaos will be Biblical in proportion to anything we have witnessed in all American history.

          Nineteenth century French economist and writer, Frederic Bastiat could have been speaking of America today and the situation She currently finds Herself, as he once stated:

          “When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe.”

          Americans from all across the country have either been complicit in this current treason to “fundamentally transform America”, into something strange and foreign to the Founding, or they have simply been so complacent as to allow the country to fall to her enemies-from-within, in a manner that’s proving fairly damned tough to counter for the moment due to a litany of reasons, from lawfare against conservative and independent patriots to the outright targeting of American patriots by the FBI and the DOJ. But basically, the nation is just about to reap the full, terrible consequences of what was sown so many decades ago, and everyone had better prepare as best as they can.

          We can’t stop what is headed down the road towards us, no matter if we stopped all unnecessary spending or the invasion at the border today — not if we outlawed all deviancy, abuse of children through gender assignment and men competing in women’s sports, or started drilling for oil and gas like crazy overnight. The die has been cast, and no one single man or woman, sitting in the Oval Office, can change what is coming, not Trump or RFK, JR or anyone else who wants to give it a try.

          All good and decent Americans, who can still remember what America used to be or who have been well taught from childhood and know what a great nation — an exceptional nation — She has been in years gone by, will soon be forced to fight against enemies-from-within and foreign enemies supported by the World Economic Forum and the United Nations, so that our friends, families and communities can survive this period and freedom and liberty shall not perish in our land. And as we fight, we must pray and hope that our side emerges victoriously from the din and cacophony of the conflagration and chaos, in order that we may purge the land of those who hate America and restore Her to a land that truly understands what “equality under the law” actually means, to be governed in a manner that actually defends and protects the Inalienable God-given Rights for all, restoring America as something better than She has been in a long, long time.

          This is the war that lays ahead of us, looming just over the horizon, and our very lives and the lives of our loved ones depend on our success. The death of America as She has stood is guaranteed, unless liberty-minded patriots rise from the ashes of the next civil war. That is the reality and the future we now must face.

          Keep ringing the bell … the Liberty Bell and the sound of Freedom from sea to shining sea.

          Tyler Durden
          Sat, 04/06/2024 – 23:20

        • Only 59% Of Americans Are 'Satisified' With Their Health
          Only 59% Of Americans Are ‘Satisified’ With Their Health

          Tomorrow, Sunday, marks World Health Day and the 75th anniversary of the World Health Organization.

          The theme this year is: “My health, my right” and was chosen by the WHO to “champion the right of everyone, everywhere to have access to quality health services, education, and information, as well as safe drinking water, clean air, good nutrition, quality housing, decent working and environmental conditions, and freedom from discrimination.”

          With this in mind, Statista’s Anna Fleck looks at data to find out: how satisfied are we with our health?

          Infographic: Where People Are Satisfied With Their Health | Statista

          You will find more infographics at Statista

          According to the Statista Consumer Insights macro-survey, respondents in Nigeria were particularly likely to say that they are satisfied or very satisfied with their general state of health in the last twelve months (85 percent).

          By contrast, respondents in South Korea responded more negatively, with only 36 percent answering that they are satisfied or very satisfied with their health.

          It’s worth noting here that this data does not necessarily mean that the inhabitants of South Korea are in worse health than those of Nigeria, for example, but that perceptions of health may differ.

          This survey does not offer a look at the level of health of the population, but a glimpse of how people in different countries perceive their general state of health.

          Tyler Durden
          Sat, 04/06/2024 – 22:45

        • Climate-Con & The Media-Censorship Complex – Part 1
          Climate-Con & The Media-Censorship Complex – Part 1

          Authored by Jesse Smith via TruthUnmuted.org,

          The gauntlet has been cast by the media-censorship complex. Just prior to this year’s annual globalist confab in Davos, the World Economic Forum (WEF) announced that misinformation and disinformation are currently the greatest threats to humanity, with the release of its Global Risks Report 2024.

          From a list of 34 risks, the WEF report identifies mis- and disinformation as the top threats to global stability over the next two years and the fifth most dangerous threats over the next 10 years. Of particular concern is false information that could affect elections, democratic processes, and social cohesion in various countries worldwide, as well as sentiment contradicting the “consensus” narrative about climate change.

          Echoing these same concerns, the United Nations (UN), its strategic partner in advancing the climate-focused 2030 Agenda for Sustainable Development, has previously stated much of the same.

          In Information Integrity on Digital Platforms, a June 2023 UN policy brief recommending a code of conduct for digital platforms, Secretary-General António Guterres stated:

          The ability to dissem­inate large-scale disinformation to undermine scientifically established facts poses an exis­tential risk to humanity (A/75/982, para. 26) and endangers democratic institutions and funda­mental human rights. These risks have further in­tensified because of rapid advancements in tech­nology, such as generative artificial intelligence. Across the world, the United Nations is monitor­ing how mis- and disinformation and hate speech can threaten progress towards the Sustainable Development Goals. It has become clear that business as usual is not an option.”

          All the UN’s 2030 Agenda plans, activities, and expenditures are based on the belief that we face an existential climate crisis caused by human activity and dangerous greenhouse gas emissions, particularly carbon dioxide (CO2). This conviction is clearly outlined in a fact sheet produced by Verified, a joint initiative of the United Nations and Purpose, launched in 2020 to respond to mis- and disinformation about “intersecting crises like COVID-19 and climate change.” The document states unequivocally that:

          1. Climate change is happening.

          2. Climate change is caused by human activity.

          3. Scientists agree that humans are responsible for climate change.

          4. Every fraction of a degree of warming matters.

          5. The climate is changing faster than humans, plants, and animals can adapt.

          6. Climate change is a major threat to people’s health.

          7. Natural gas is a fossil fuel, not a clean source of energy.

          8. Clean energy technologies produce far less carbon pollution than fossil fuels.

          9. Entire countries already rely 100 percent on renewable electricity.

          10. Renewable energy will soon be the world’s top source of electricity.

          11. Renewable energy is cheaper than fossil fuels.

          12. Solar panels and wind turbines make good use of land.

          13. The transition to clean energy will create millions of jobs.

          By stating that disinformation is undermining these supposed scientific facts, Guterres rests his entire argument on the premise that each of the above statements is absolutely, indisputably, and undeniably true. Like Guterres, all who espouse this climate narrative have no tolerance for any opinion, theory, or evidence that runs contrary to this dogged notion.

          Verified is backed by powerful globalist NGOs including the Rockefeller Foundation and Omidyar Network. It has an extensive list of major media collaborators such as Al Jazeera, Clear Channel, Facebook, Reddit, Spotify, TikTok, and Twitter. Melissa Fleming, Verified co-founder and current UN Under-Secretary-General for Global Communications, has made it known that social media is a huge threat to climate science and other UN initiatives and is particularly bothered by Twitter/X for allowing rampant disinformation.

          It is clear from these reports that any dissent from the established climate narrative threatens the advancement of the UN’s 17 Sustainable Development Goals (SDGs). Now, urgent calls to extinguish these threats have been issued so they can proceed with transforming the world unimpeded.

          While many of the issues expressed in the Information Integrity report are legitimate and concerning, the UN via the World Health Organization (WHO) participates in disinformation by continuing to promote COVID-19 vaccines as safe and effective, when they have largely been proven to be ineffective and cause much harm. Their stance regarding climate change could also qualify as disinformation to the thousands of scientists who oppose this view but are being discredited as mere conspiracy theorists.

          The following statement from the report underscores their frustration with “climate deniers” and the platforms they use to oppose the UN’s agenda:

          …mis- and disinformation about the cli­mate emergency are delaying urgently needed action to ensure a liveable future for the planet. Climate mis- and disinformation can be under­stood as false or misleading content that un­dercuts the scientifically agreed basis for the existence of human-induced climate change, its causes and impacts. Coordinated campaigns are seeking to deny, minimize or distract from the Intergovernmental Panel on Climate Change scientific consensus and derail urgent action to meet the goals of the 2015 Paris Agreement. A small but vocal minority of climate science de­nialists continue to reject the consensus po­sition and command an outsized presence on some digital platforms.”
          (p. 12, emphasis added)

          Globalists want conformity regarding climate change and will go to extreme lengths to marginalize, censor, and discredit dissenters. They talk a good game about enforcing universal freedom of expression, but on climate and other issues vital to their agenda, free speech is not tolerated. Though they readily acknowledge that controlling information may lead to greater levels of authoritarianism, surveillance, censorship, and the erosion of human rights, it seems they are willing to overlook these offenses to protect their precious climate agenda.

          If they can successfully shut down debate about climate change, then soon any topic that threatens their aims will be off limits. The UN deems itself a protector of human rights but plays a major role in the media-censorship complex. Its attempts at crushing opposition to the climate narrative betrays their mission and reveals authoritarian tendencies.

          COUNTERING DIGITAL HATE OR ADVOCATING SUPPRESSION?

          A recently released report issued by the Center for Countering Digital Hate (CCDH) claims that new forms of climate denial have emerged. These new arguments don’t deny that the climate is changing and is caused by human activity, but instead contend that:

          • The impacts of global warming are beneficial or harmless.

          • Climate solutions won’t work.

          • Climate science and the climate movement are unreliable.

          The basis for their report stems from use of “an AI based model called CARDS,” short for Computer-Assisted Recognition of Climate Change Denial and Skepticism. CARDS is designed to identify and categorize climate denialist claims in text. The researchers used CARDS to analyze YouTube video transcripts from 96 mostly right-wing, conservative leaning channels including prominent ones like BlazeTV, Jordan Peterson, and the Heartland Institute.

          CCDH has a big gripe with social media companies they believe are not doing enough to stem the tide of rising climate denial. They want to eliminate the ability for any “climate denier” spreading “conspiracy theory statements” to financially benefit from their content, as evidenced in the following statements:

          To support the global efforts to avert climate disaster, Instagram, Facebook, TikTok and X should all demonetize and de-amplify New Denial content. Demonetizing climate denial removes the economic incentives underpinning its creation and protects advertisers from bankrolling harmful content. Moreover, de-amplifying climate denial limits its reach and visibility, allowing time for fact-checking and other protective measures to be applied where content is clearly contrary to the well-established scientific consensus on climate change”
          p. 34; emphasis added

          CCDH polling on social media usage tested respondents’ agreement with conspiracy theory statements, including the statement: “Humans are not the main cause of global temperature increases.” CCDH found that 43% of adults and 56% of teenagers who report high activity on social media expressed agreement with that statement. This link between social media usage and conspiracist belief illustrates why urgent action is needed to prioritize information integrity on digital platforms in climate policymaking”
          p. 34; emphasis added

          Their demonetization and censorship recommendations come even after admitting that the CARDS model is only up to 78% accurate, could not perform any fact checks on the claims made in the transcripts, and that lack of punctuation caused results to be skewed.

          Image: The New Climate Denial Report, Page 40

          The CCDH is a sketchy, UK-based, advocacy group that has produced various reports inciting censorship against those they disagree with. Their efforts against “anti-vaxxers” culminated in several reports that led to the deplatforming, demonetizing, and discrediting of many individuals and organizations exposing pandemic-related fraud and COVID-19 vaccine falsehoods.

          CCDH’s The New Climate Denial report has been promoted through mainstream outlets like CNN, MSN, Yahoo, and USA Today. It could impact the cited individuals and organizations the same way it affected those targeted in its Disinformation Dozen reports a few years ago. Though their stated mission is to “protect human rights and civil liberties online,” they practice the opposite by advocating the revocation of these rights for climate and vaccine narrative challengers.

          HOW THE MEDIA-CENSORSHIP COMPLEX PLANS TO TACKLE CLIMATE DISSENT

          Two things are very clear from the recent reports issued by the WEF, UN, and CCDH. One, is that climate skepticism is on the rise. The second, is that they are threatened by the very existence of those who dare to refute their narrative. Many strategies to stem the tide of climate cynicism have already been employed with new ones currently being tested.

          If one dares to publicly question the science regarding climate change, one or more of the following tactics may be used to impede the effort:

          In addition to Verified and CCDH, other organizations utilizing these methods to silence opposers include:

          Each of these organizations are fueled and funded by many of the entities responsible for advancing the climate agenda, especially as it relates to the UN SDGs. This globalized amalgamation of media watchdogs, fact checkers, and disinformation regulators is powered by billion-dollar corporations, democratic and undemocratic governments, influential foundations, and powerful NGOs. The list includes The White House, U.S. State Department, U.S. Department of Defense, U.S. Department of Homeland Security, Federal Bureau of Investigation (FBI), The National Science Foundation, United Nations, Poynter Institute, National Endowment for Democracy, Open Society Foundations, Omidyar Network, Rockefeller Foundation, Rockefeller Family Fund, Bill & Melinda Gates Foundation, Google, Meta, Microsoft, and many more.

          A plethora of legacy and social media companies also utilize the services provided by these organizations. A small sampling includes Associated Press, NPR, NBC News, Newsweek, The Washington Post, The Guardian, The Nation, The Corporation for Public Broadcasting, YouTube, Facebook, TikTok, WhatsApp, Twitch, and LinkedIn. A look at Covering Climate Now’s list of partners provides an even broader view of the media’s enforcement of the climate agenda.

          As if governments, corporations, and organizations weren’t enough, universities such as Columbia, Harvard, Oxford, and University of Southern California also perpetuate the climate propaganda by training journalists in their institutions.

          By treating climate change as a national security threat, the U.S. Department of Defense and intelligence agencies have also been enlisted in the fight against mis- and disinformation.

          In addition, individuals within both the left and right wings of the two-party paradigm collude to curtail free speech. It is a grave mistake to believe that calls for censorship from either side of the political spectrum are beneficial. They are both integral to perpetuating the media-censorship complex.

          WHY HAS CLIMATE SCIENCE BECOME NONDEBATABLE?

          If it wasn’t apparent before, it should now be crystal clear that there is a vast empire united against those questioning the climate narrative. They are determined to perpetuate the myth that there is universal consensus on the facts.

          The truth is there is no real consensus on climate science. The UN and its network of public-private partnerships (PPP) just make it seem that way. In this regard, the UN climate stance is akin to Anthony Fauci’s claim that questioning him was like questioning science itself. Honest and open debate on the issue should be continued by allowing opponents opportunities to present their case without fear of censorship, harassment, exclusion, or cancellation. Instead, there is constant reinforcement of a fictional consensus while divergent opinions are labeled as dangerous conspiracies.

          Climate consensus figures as high as 97 and even 99.9 percent have been touted by former US Presidents, researchers, and media outlets in the past. But is this claim true? If it were, then why would there be so much effort to silence a mere one to three percent who deviate from the scientific echo chamber? Would all these battles be worth the time, energy, and money being spent on just a few dissidents, as they claim?

          https://platform.twitter.com/widgets.js

          Much of what qualifies as climate research is funded by institutions that have already bought into the doomsday mantra of impending man-made disaster. The industry is rigged to favor researchers who set out to prove “official” claims. Funding and publication are often withheld from those who do not toe this line. As a result, statistics are skewed to make it seem like there is universal consensus.

          Past research has demonstrated claims of scientific consensus on climate change to be fraudulent. In a paper published in 2023, a team of researchers disproved the conclusions reached in a 2021 study claiming there was greater than 99% consensus on climate science in peer-reviewed scientific literature.

          The claims were refuted by demonstrating that studies expressing neutral opinions were misclassified and papers communicating skepticism were ignored. This clear case of academic malfeasance is not the only example where scientists used falsified research and conspired to silence those contradicting the alleged consensus. Even if the 99% consensus assertions were valid, the notion of consensus-as-truth does not pass the test for authentic scientific validation. The majority can still be wrong.

          A recent article posted by The Good Men Project, which “exposed” the climate deniers behind the recent farmer protests in Europe, proclaimed that “Scientific consensus on human-caused climate change is equivalent to that on evolution.” This statement came in response to a request from protest organizer James Melville for a national debate on climate and net zero policies. Never mind that evolution is not a proven fact. Equating climate change to evolution shows it is also unproven and can be argued against. Again, the majority can still be wrong!

          Remember when Pfizer, Moderna, AstraZeneca, and Johnson & Johnson made claims that their COVID vaccines were all well over 90% effective in stopping transmission? As evidenced in the following video, those proclamations did not hold up very well, did they?

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          A massive army has been assembled to ensure that rival claims will not see the light of day for long. But why is it that the powers that be would rather falsify research, smear dissenters, and spend billions of dollars to silence critics rather than continuing to debate the issues?

          An article written by Gregory Whitstone, Executive Director of the CO2 Coalition, presents a valid argument for continued scientific debate on climate change, stating:

          You have likely heard that 97% of scientists agree on human-driven climate change. You may also have heard that those who don’t buy into the climate-apocalypse mantra are science-deniers. The truth is that a whole lot more than 3% of scientists are skeptical of the party line on climate. A whole lot more…

          There are some scientific truths that are quantifiable and easily proven, and with which, I am confident, at least 97% of scientists agree. Here are two:

          • Carbon dioxide concentration has been increasing in recent years.

          • Temperatures, as measured by thermometers and satellites, have been generally increasing in fits and starts for more than 150 years.

          What is impossible to quantify is the actual percentage of warming that is attributable to increased anthropogenic (human-caused) CO2. There is no scientific evidence or method that can determine how much of the warming we’ve had since 1900 that was directly caused by us.

          We know that temperature has varied greatly over the millennia. We also know that for virtually all of that time, global warming and cooling were driven entirely by natural forces, which did not cease to operate at the beginning of the 20th century.

          The claim that most modern warming is attributable to human activities is scientifically insupportable. The truth is that we do not know. We need to be able to separate what we do know from that which is only conjecture.

          How can greenhouse gases, particularly CO2 be the sole agent causing rising temperatures when it is an essential element for all life forms? Given the growing world population, it seems that greater levels of CO2would lead to greater benefits. Plants need CO2 to thrive, yet the fight against it is accelerating.

          Scientists have now stated that cow burps and farts and even human breathing are bad for the environment because they contribute to the emission of methane and nitrous oxide, both believed to contribute to global warming. This is beyond absurd!

          We are on the slippery slope to a dystopian nightmare if the trend toward censorship and marginalization continues. There is no good reason why continued debate featuring those on all sides of the issue should not be occurring, unless of course there are other reasons for ramming this fear-based agenda down our throats.

          We’ll examine the other reasons in Part 2 of this series.

          Tyler Durden
          Sat, 04/06/2024 – 22:10

        • These Are The World's Deadliest Behavioral Risk Factors
          These Are The World’s Deadliest Behavioral Risk Factors

          “Smoking kills” is but one of the slogans connected to anti-tobacco advocacy groups – and it’s quite true.

          When looking at behavioral risks, meaning types of risk that can largely be avoided, especially in highly industrialized nations, smoking cigarettes, cigars and other tobacco products is connected to a variety of diseases responsible for 7.7 million deaths worldwide.

          As Statista’s Florian Zandt shows in the chart below, based on data from the 2019 Global Burden of Disease study by the Institute for Health Metrics and Evaluation at the University of Washington shows, no other behavioral risk factor comes close to the disease burden of smoking.

          Infographic: The World's Deadliest Behavioral Risk Factors | Statista

          You will find more infographics at Statista

          Coming in second on a global level as well as in terms of risk-factor-associated deaths in the United States in 2019 is alcohol use with an estimated 2.4 million global and 137,000 U.S. deaths in 2019.

          Roughly 57 and 30 percent of global deaths associated with risk factors and connected to substance abuse and digestive diseases, respectively, can be traced back to alcohol use.

          While a high-sodium diet is connected to almost two million deaths on a global scale and therefore ranks third worldwide, the United States have a different problem: drug abuse.

          In 2019, around 105,000 people were estimated to have died from diseases connected to drug use, which constitutes a four-percent share of the overall deaths connected to behavioral risks in the country.

          This is especially striking compared to the same metric globally, where the share of deaths barely reaches one percent.

          The total number of deaths from risk factors in the United States amounted to 1.8 million, while the global number stood at 35 million.

          While the consumption of most drugs is illegal and often carries a social stigma, alcohol and tobacco are legal drugs permeating all levels of society. The risks of both are well-known and well-documented, with the International Agency for Research on Cancer classifying both as a group 1 carcinogen, which includes agents with “sufficient evidence of carcinogenicity in humans [and] both strong evidence in exposed humans that the agent exhibits key characteristics of carcinogens and sufficient evidence of carcinogenicity in experimental animals.”

          Tyler Durden
          Sat, 04/06/2024 – 21:35

        • Trump Accuses Biden Of Unfairly Targeting 71-Year-Old Jan. 6 'Hostage'
          Trump Accuses Biden Of Unfairly Targeting 71-Year-Old Jan. 6 ‘Hostage’

          Authored by Tom Ozimek via The Epoch Times (emphasis ours),

          Former President Donald Trump has criticized President Joe Biden and the Justice Department for “unfairly” targeting a 71-year-old woman dubbed the “J6 Praying Grandma” who entered the U.S. Capitol for around 10 minutes on Jan. 6, 2021.

          Rebecca Lavrenz was convicted on April 4 on four federal misdemeanor charges, including entering and remaining in a restricted building, and disorderly and disruptive conduct. She faces up to a year in prison and $200,000 in fines, with her sentencing scheduled for Aug. 12.

          Republican presidential candidate and former President Donald J. Trump speaks at a rally in Laconia, N.H., on Jan. 22, 2024. (Madalina Vasiliu/The Epoch Times)

          President Trump took to social media on Friday to denounce the conviction.

          “Rebecca Lavrez, also known as the ‘J6 Praying Grandma,’ has been unfairly targeted by Crooked Joe Biden’s DOJ, and now faces up to 1 YEAR in prison for peacefully walking around the Capitol, and praying for our Failing Nation on January 6th!” he wrote in a post on Truth Social.

          President Trump said that Ms. Lavrez, a 71-year-old grandmother and small business owner from Colorado, has now become “one of Joe Biden’s J6 HOSTAGES!!!”

          President Trump has made the alleged mistreatment of Jan. 6 defendants a cornerstone of his reelection campaign, vowing to use executive power to issue pardons and free Jan. 6 “hostages” soon after taking office, if elected.

          “Crooked Joe Biden spends more time prosecuting Patriots like Rebecca, AND ME, than Violent Criminals, Thugs, Murderers, and ILLEGAL IMMIGRANTS who are destroying our Country. THIS IS WHAT WE ARE UP AGAINST,” President Trump added in his post.

          President Biden has been sharply critical of President Trump’s statements about the Jan. 6 defendants, while Attorney General Merrick Garland has promised to press ahead with more Jan. 6 prosecutions—and to cast the Justice Department’s dragnet even more widely to include people who weren’t even present at the Capitol that day.

          “As I said before, the Justice Department will hold all January 6 perpetrators, at any level, accountable under the law—whether they were present that day or were otherwise criminally responsible for the assault on our democracy,” Mr. Garland said in a speech on Jan. 5.

          More than 1,350 people have been charged with various crimes in relation to the Jan. 6 Capitol breach, ranging from misdemeanor offenses such as trespassing to felonies such as seditious conspiracy and assaulting police officers.

          Of these, roughly 800 have been sentenced, with nearly two-thirds receiving some time in prison.

          ‘I Went There To Pray’

          Ms. Lavrenz, who calls herself the “J6 Praying Great-Grandma” in her X account bio, was convicted by a federal jury on April 4 on four criminal counts.

          After nearly 26 hours of deliberation, a jury found her guilty of entering and remaining in a restricted building or grounds, disorderly and disruptive conduct in a restricted building or grounds, disorderly conduct in a Capitol building, and parading, demonstrating, or picketing in a Capitol building.

          In an April 5 appearance on Steve Bannon’s “War Room” program, Ms. Lavrenz said she only spent 10 minutes inside the Capitol and that she traveled to Washington on Jan. 6 to pray for America’s future.

          “I went there to pray,” Ms. Lavrenz told Mr. Bannon. She explained that she was in Washington on Jan. 6, 2021 “because I love God, my country, and my family, and I knew that something wasn’t right in that 2020 election.”

          Ms. Lavrenz was captured on video surveillance entering the Capitol building through the East Rotunda doors, walking around the building, and speaking briefly with a police officer before exiting the building, according to charging documents.

          The Department of Justice (DOJ) alleged in the complaint against her that Ms. Lavrenz volunteered photos of herself at the Capitol on the day of the breach to FBI agents. The complaint says the Falcon, Colorado, resident “admitted traveling to Washington, D.C. on Jan. 6, 2021 to attend the ‘Stop the Steal’ rally on the mall and ‘following the crowd to the U.S. Capitol building.’”

          In its statement of facts against Ms. Lavrenz, the DOJ said the grandmother of seven entered the building despite seeing physical barriers “indicating the U.S. Capitol building grounds were a restricted area.”

          The filing also states that she “observed people getting into physical confrontations with police” and that she “saw a woman get injured in the exchange.” Video evidence confirmed Ms. Lavrenz’s statement that she was inside the building for only 10 minutes, per the court filings.

          Demonstrators are seen at the U.S. Capitol in Washington on Jan. 6, 2021. (John Minchillo/AP Photo)

          Several days before the start of her trial, Ms. Lavrenz posted a video of herself online as she entered the Capitol grounds for the first time since Jan. 6, 2021.

          “My own country is treating me like a criminal just because I believe that my—they stole my rightful president, and just standing up for my country makes me a criminal,” she said in the video. “It’s not right. It feels so weird to be here.”

          A retired register nurse, Ms. Lavrenz also owns and operates a bed and breakfast near the Rocky Mountains in Falcon, Colorado.

          She has set up a GiveSendGo crowdfunding page to help pay for her legal bills and as of Saturday had received over $82,000 in donations.

          Alice Giordano contributed to this report.

          Tyler Durden
          Sat, 04/06/2024 – 21:00

        • Democrat Division Intensifies As Ex-Speaker Pelosi Joins Call For Biden To Stop Arming Israel
          Democrat Division Intensifies As Ex-Speaker Pelosi Joins Call For Biden To Stop Arming Israel

          A divide among Democrats over whether to halt defense aid to Israel is growing more fierce, causing a crisis and headache for Biden strategists ahead of the presidential election, which has only intensified in the wake of last week’s Israel Defense Forces (IDF) attack on the World Central Kitchen convoy in Gaza, which left seven international workers dead, including an American.

          This intensifying fragmentation of Biden’s base has been on display this weekend also given former House Speaker Nancy Pelosi – still very influential among Dems – has publicly come out against Biden’s policy to continue arming Israel. The issue is entering the heart of the Democratic establishment, threatening unity.

          Axios reports that she “signed onto a call by progressive members of Congress for the U.S. to stop transferring weapons to Israel over a strike that killed seven aid workers in Gaza.”

          Via AFP

          The letter she signed, and which was led by Reps. Mark Pocan (D-Wisc.), Jim McGovern (D-Mass.) and Jan Schakowsky (D-Ill.), included the signatures of some 40 Democrats.

          “In light of the recent strike against aid workers and the ever-worsening humanitarian crisis, we believe it is unjustifiable to approve these weapons transfers,” the lawmakers stated in the letter addressed to President Biden and Secretary of State Antony Blinken.

          “If this strike is found to have violated U.S. or international law, we urge you to continue withholding these transfers until those responsible are held accountable,” the lawmakers wrote.

          However, a follow-up statement from a Pelosi representative to Axios has this to say: “Speaker Pelosi knows President Biden’s support for Israel and empathy with the innocent civilians in Gaza, and she respects his judgment in how to proceed.”

          This trend of the Gaza war becoming a bright red dividing line among Democrats is also on display with recent stories like the following from Epoch Times— Pro-Israel Democrat Group Endorses ‘Squad’ Primary Opponents:

          A Democrat pro-Israel group has endorsed candidates challenging incumbents who are members of the far-left congressional group “The Squad.”

          Democratic Majority for Israel (DMFI) announced on April 3 its backing of Westchester County Executive George Latimer and St. Louis County Prosecuting Attorney Wesley Bell.

          DMFI did not state its reasons for backing the two other than through announcing a slate of endorsements.

          So now the ‘fight’ is on and it’s becoming a real issue with campaign money lining up on either side. Still, those voters who put the Squad members in office in the first place are more than likely to come down on the anti-Israel side. 

          Another indicator that the internal Democrat divide is accelerating is that the controversy has completely altered a long-standing White House tradition. Muslim leaders are boycotting an annual White House Ramadan gathering which marks the end of the Muslim season of fasting:  

          The Biden administration is hosting a scaled-down Ramadan gathering for Muslim and Arab Americans after several community leaders declined the invite over the unrelenting and steadfast nature of US support for Israel’s war on Gaza.

          The event scheduled for Tuesday will be in stark contrast to previous Muslim celebrations and gatherings under the Biden administration, which have seen packed ballrooms of Muslims from all over the country joining the White House festivities. 

          This year, the iftar will be confined to staffers only, and a separate gathering will take place for Muslim community members.

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          One such Muslim community leader and activist told Middle East Eye that Palestinian-Americans are “vehemently opposed to any Palestinian, Arab, Muslim, or any person who has an ounce of humanity” attending the event.

          All of this is of course a plus for Trump’s chances of retaking the White House going into November, also given the Israel-Gaza issue is much less of a divisive flashpoint issue for Republican voters.

          Tyler Durden
          Sat, 04/06/2024 – 20:25

        • The Reality Of Vitamin D Supplementation
          The Reality Of Vitamin D Supplementation

          Authored by Sheramy Tsai via The Epoch Times,

          One in five Americans regularly reach for vitamin D supplements, yet most are unaware that they’re taking not just a vitamin –  but a hormone.

          While renowned for bolstering bone strength and immune health, vitamin D’s story is not straightforward. A blend of myth and established science invites a closer look into its true nature and impact.

          Vitamin D: Understanding Its Dual Role

          Vitamin D stands apart in the world of nutrients. It’s a sun-sourced substance acting as both a nutrient and a hormone. This dual role is significant, as hormones, which orchestrate many bodily functions, aren’t typically taken as supplements like vitamins.

          Endocrinologist Dr. Michael Holick, a leading vitamin D expert, tells The Epoch Times, “The body more effectively utilizes vitamin D when it’s naturally synthesized from sunlight, compared to standard supplement doses.”

          This difference is key to understanding vitamin D’s health role and the complexities of supplementing a hormone.

          Unlike most nutrients, the hormonal nature of vitamin D means it has a broader systemic impact, influencing not just bone health but also immune function, cell growth, and inflammation control. This understanding is crucial in guiding medical approaches to its use, including the potential risks and benefits of supplementation.

          Beyond Bone Health

          Vitamin D is more than just a bone health and immune system booster. Its multifaceted role in the body impacts everything from mood regulation to cardiovascular health.

          At its core, vitamin D is vital for calcium absorption in the gut, and essential for bone strength and health. “Without enough Vitamin D, the body can only absorb 10–15 percent of calcium,” Dr. Alex Foxman, a leading internist and preventive care specialist, told The Epoch Times. Insufficient calcium can result in weaker bones and heightened fracture risks.

          Moreover, vitamin D is pivotal for immune health. Dr. Holick observes, “Vitamin D receptors are in almost every cell, including immune cells.” Proper levels are vital for a balanced immune response and preventing autoimmune disorders.

          Dr. Nathan Goodyear, an integrative cancer physician and director of Brio Medical, an integrative cancer treatment center in Scottsdale, Arizona, stresses vitamin D’s essential role in immune functionality and its influence on chronic diseases, like cancer. He explains, “The immune system does not work well if vitamin D is not optimal,” emphasizing its role in cancer, where immune strength is crucial.

          Recent research, including melanoma studies, indicates that vitamin D supplementation can enhance treatment responses and prolong survival in cancer patients, even with currently insufficient daily dosage recommendations.

          Vitamin D also plays a significant role in heart health.

          Studies have linked low vitamin D levels to an elevated risk of heart disease. Those deficient in vitamin D are more likely to experience hypertension, heart failure, and strokes.

          Mental health is another arena where vitamin D plays a significant role.

          Kimberly Parker, a licensed psychotherapist, told The Epoch Times, “There’s a clear link between low levels of vitamin D and higher incidences of depression and mood disorders.”

          It also affects seasonal affective disorder, a depression variant tied to seasonal changes. “I have seen my patients have a reduction of symptoms once they started to become consistent with their vitamin D intake,” she reports.

          Vitamin D’s Journey From Sunlight to Cellular Powerhouse

          Vitamin D is vital for health, existing in different forms, each taking a unique path within our body. Grasping these forms is key to understanding how vitamin D functions in our system.

          Once vitamin D enters our body through sun, diet, or supplements, it transforms to become active.

          First, it changes into calcidiol in the liver, then into calcitriol, its active form, in the kidneys. Dr. Holick clarifies, “Calcitriol is the form that our body can use to perform various functions.”

          Interestingly, each form of vitamin D undergoes a similar conversion process in the body. The source of vitamin D might differ, but the pathway it takes in our bodies converges.

          The conversion efficiency of vitamin D can differ. The skin’s capacity to produce vitamin D3 diminishes with age and is influenced by skin pigmentation, geographical location, and lifestyle.

          Controversies in Vitamin D Testing

          The routine way to measure vitamin D levels in the body is through a blood test called 25-hydroxyvitamin D. This measurement reflects vitamin D levels from sunlight, food, and supplements. The less recommended 1,25-dihydroxyvitamin D test fails to gauge vitamin D reserves, rendering it ineffective for patient monitoring.

          Vitamin D blood testing has surged, ranking as Medicare’s eighth most common lab test. Market reports pegged the 2023 testing market at $677.5 million, with projections reaching $1.06 billion by 2031.

          Once led by giants like Abbott, Siemens, and Quest Diagnostics, the vitamin D testing market is now seeing a surge in home testing kits from smaller companies. Dr. Holick recalls, “Years ago, I told Quest that this would be their number one seller.”

          “More than 10 million vitamin D blood tests are done annually in the United States, even though these tests are not recommended by major medical organizations,” Dr. Morton Tavel, a cardiologist and specialist in internal medicine and cardiovascular disease, told The Epoch Times. He references a 2020 Virginia health system study, where 10 percent of patients underwent vitamin D tests, often without medical indication.

          Beyond adults, vitamin D testing in children skyrocketed 30-fold in 15 years, as per a BMJ study, though it didn’t significantly alter low vitamin D diagnosis rates.

          This increase in vitamin D testing contrasts with medical associations’ guidelines, which generally discourage routine testing in asymptomatic, low-risk individuals.

          For instance, the Endocrine Society recommends screening only high-risk groups. The U.S. Preventive Services Task Force sees insufficient evidence for universal screening. Choosing Wisely also advises against testing in low-risk groups, including the general population.

          Dr. Joel Finkelstein from Massachusetts General Hospital’s Bone Density Center, as reported in a Harvard Health blog, voices skepticism about the rampant vitamin D deficiency screening, deeming many checks on healthy individuals unnecessary.

          “Vitamin D has been hyped massively,” he states. “We do not need to be checking the vitamin D levels of most healthy individuals.” He challenges the evolutionary need for high vitamin D, noting its limited presence in natural foods and reduced synthesis in darker skin, common in sun-rich areas.

          However, many functional medicine and naturopathic doctors recommend regular vitamin D testing.

          The College of Naturopathic Medicine advises those in sun-poor climates to test routinely for better health maintenance.

          Aligning with this view, Dr. Goodyear emphasizes the tests’ relevance, particularly regarding inflammation and chronic diseases like cancer. He told The Epoch Times, “Vitamin D will always be low in the place of significant inflammation, both acute and chronic,” advocating for regular monitoring for proper supplementation.

          Dr. Goodyear draws an analogy to salmon swimming upstream against a current of inflammation, illustrating the challenges in increasing plasma vitamin D levels in such conditions. He likens this process to standard medical practices like monitoring blood pressure, emphasizing the need for a similar approach in natural therapies, “The process is to evaluate, dose, re-evaluate, and then re-dose,” he adds.

          Reflecting the views of Linus Pauling, considered to be the “father of vitamin C,” Dr. Goodyear criticizes the medical oversight of pharmacokinetics and dynamics in natural therapies. He explains that physicians learn drug dosage precision but often forget that this also applies to vitamins. He advocates for a tailored approach in vitamin D therapy, moving away from a one-size-fits-all methodology.

          Defining Optimal Vitamin D Levels

          According to the U.S. Preventative Services Task Force, “No consensus exists on the definition of vitamin D deficiency or the optimal level of total serum 25-hydroxyvitamin.”

          Some experts view 25(OH)D levels under 30 ng/mL as deficient. Common standards suggest 30-60 ng/mL as sufficient. Yet, many functional health practitioners advocate for an optimal range of 50–80 ng/mL.

          Recommendations according to the National Institutes for Health (NIH):

          The NIH clarifies that optimal vitamin D levels are unestablished, as they “vary by stage of life, by race and ethnicity, and with each physiological measure used.”

          Contrasting these guidelines, voices like Dr. Goodyear’s claim current vitamin D dose recommendations are too low. He labels the current U.S. recommended daily allowances as “woefully inadequate.”

          Dr. Goodyear notes that the conventional focus on preventing rickets overlooks the broader health benefits of higher vitamin D levels. This stance argues for higher optimal ranges, implying current standards don’t fully exploit the vitamin’s health potential.

          Too Much of a Good Thing?

          Vitamin D is vital, however, there’s concern about its overconsumption, particularly via supplements. Unlike water-soluble vitamins, which our bodies can quickly expel when in excess, vitamin D is fat-soluble and can accumulate in the liver and fat tissues to harmful levels, termed “vitamin D intoxication.”

          Dr. Holick cautions that vitamin D intoxication, though extremely rare, is severe. Sun exposure can’t cause Vitamin D toxicity, but excessive supplementation can. “Any excess vitamin D made by the sun is destroyed by the sun. You can never become vitamin D intoxicated from sun exposure, but you can from supplements if you take too much,” he warns.

          Vitamin D toxicity triggers excessive calcium in the blood, leading to nausea, vomiting, and weakness. If untreated, it can escalate to kidney damage, bone pain, and, rarely, death.

          Some practitioners, including Pam Schoenfeld, a registered dietitian, assert that excessive vitamin D intake can lead to the depletion of retinol, the active form of vitamin A. Ms. Schoenfeld told The Epoch Times, “The current landscape of vitamin D supplementation often neglects the intricate balance with other crucial fat-soluble vitamins.”

          In an article for the Weston Price Foundation, Ms. Schoenfeld cautions, “More astute practitioners know that supplementing with vitamin D, especially at levels of 5,000 IU per day … is not advisable unless attention is paid to ensuring vitamin A intake is optimal.” This perspective emphasizes the delicate balance between these essential nutrients, suggesting that maintaining optimal levels of both is crucial for health, particularly during pregnancy.

          Critics, like Dr. Holick, challenge this view, arguing that no substantial evidence supports the claim that Vitamin D adversely affects vitamin A levels. “It’s simply not true,” he notes.

          The Vitamin D Supplementation Dilemma

          Modern indoor lifestyles and diets low in vitamin D contribute to widespread deficiencies. Despite well-balanced diets, about 1 in 4 American adults and 70 percent of children fall short of necessary vitamin D levels.

          Given these challenges, supplementation is an important consideration. Current recommendations call for 400 international units (IU) for children up to age 12 months, 600 IU for people ages 1 to 70, and 800 IU for people over 70.

          Dr. Holick endorses supplements as a straightforward solution, especially for the sun-deprived, suggesting a total daily intake of 2000–3000 IU from diet, sun, and supplements.

          However, not all practitioners agree that supplementation is necessary for everyone. “Although many studies had linked low levels of vitamin D to an assortment of medical conditions, when scientists tried administering it as a means to prevent or treat those problems, this ‘wonder’ supplement failed miserably,” Dr. Tavel told The Epoch Times.

          Sunshine, a prime vitamin D source, can fulfill needs with minimal exposure. Dr. Tavel notes, “Your vitamin D storage generally lasts for about 10 to 12 weeks,” questioning the need for constant supplementation.

          The vitamin D deficiency debate is complex. Dr. Tavel points out that “the widespread notion that much of America is walking around deficient in vitamin D came from a likely misinterpretation of the normal levels for vitamin D set by the Institute of Medicine more than a decade ago.” This has led to overestimation of deficiency rates and potentially unnecessary supplementation.

          Yet, he explains, there are specific scenarios where supplementation is beneficial. The American Academy of Pediatrics advises 400 IU of vitamin D daily for breastfed infants. Those with medical conditions or limited sun exposure might also benefit.

          Dr. Tavel warns that excessive supplementation, linked to increased fall risk and other hazards, underscores the need for balance in vitamin D intake.

          Supporting Dr. Tavel, New England Journal of Medicine research found no fracture risk reduction in healthy adults supplementing with 2000 IU of vitamin D compared to non-supplementers.

          Vitamin D’s necessity varies. Dr. Tavel reminds us, “For much of human history, people got their vitamin D mostly from the sun,” highlighting our body’s innate ability to regulate this nutrient.

          Determining vitamin D supplementation requires personal assessment, medical consultation, and an eye on guidelines. Generally, a mix of diet, sun, and occasional supplements suffices for most, claims Dr. Tavel.

          Expanding Vitamin D Supplement Industry

          The vitamin D supplement market is rapidly growing, valued at $1,560 million in 2023 and expected to reach $2,780 million by 2033, growing at 5.9 percent annually. Drivers include an aging population, heightened health awareness, and a surge in demand for vitamin-enriched products.

          In response to consumer demand, the industry is innovating with new delivery methods and formulations, like gummies, sprays, patches, creams, and potent capsules. This variety meets diverse preferences and needs, including ease of use and better absorption.

          The industry’s growth is also propelled by robust marketing and advertising. Pharma and wellness firms heavily promote vitamin D supplements as key to health, shaping consumer views and fueling market expansion.

          While this market growth mirrors a shift in health consciousness, it prompts concerns about self-prescribed supplementation and underscores the importance of a balanced approach to vitamin D consumption.

          Best Sources of Vitamin D

          Sun exposure is key in vitamin D production. UVB (ultraviolet B) rays convert skin cholesterol into vitamin D3, later transformed into calcitriol, its usable form. Interestingly, skin-produced vitamin D remains in the bloodstream for about twice as long as when ingested by food or vitamins.

          Sunlight’s vitamin D productivity varies by time, season, and location. The best synthesis is between 10 a.m. and 3 p.m. in warmer months. However, above 37 degrees latitude, there’s negligible vitamin D production from November to March.

          A 2022 study concluded, “Sun exposure can significantly make up for deficiencies in subjects who consume insufficient dietary Vit D. Compared with the extra cost and time for building habits of Vit D supplementation, moderate sun exposure appears to be a simple and costless means for the public to start in daily practice.”

          The dminder app helps users identify optimal sun exposure times for vitamin D, offering real-time data based on location, time, and weather.

          Dietary sources, though fewer, contribute to vitamin D intake. Fatty fish and UV-exposed mushrooms are key sources. Incorporating these foods can help maintain vitamin D, especially in less sunny periods.

          Supplementation, particularly beneficial for those in higher latitudes, is another method. A study showed that while both sun and oral D3 supplements raise vitamin D levels, supplements were more effective due to compliance. Simply put, more people took supplements than spent time in the sun.

          Vitamin D supplements are available as D2 (from plants) and D3 (from animals). D3, mirroring the body’s sun-induced production, is often recommended for effectively raising and maintaining vitamin D levels.

          However, Dr. Holick asserts that “physiologic doses of D2 and D3 raise vitamin D levels in the blood the same,” effectively debunking myths about their differing impacts on health. Additionally, he confirms that the kidneys equally metabolize both forms.

          Dr. Holick also touches on the regulatory history of these supplements in the United States, explaining that vitamin D2 remains the only pharmaceutical form available due to historical U.S. Food and Drug Administration approval processes. “No one ever got approval for D3,” he notes, highlighting a regulatory, rather than a health-based, reason for vitamin D2’s dominance in the market.

          Though sunlight is the prime vitamin D source, its availability is inconsistent. Diet and supplements thus serve as vital alternatives to ensure sufficient vitamin D for optimal health.

          Key Considerations for Vitamin D Supplementation

          Understanding how to optimize vitamin D supplementation and reduce risks is crucial:

          Fat-Soluble Nature

          Contrary to popular belief and many recommendations, Dr. Michael Holick argues that vitamin D absorption doesn’t depend on dietary fat. He cites studies showing better absorption from skim milk, low in fat, than from full-fat milk. Hence, vitamin D can be taken with or without dietary fat.

          Conjunction With Other Nutrients

          • Vitamin K: Studies suggest taking vitamins D and K together may enhance bone health and reduce arterial calcification risks.

          • Magnesium: Magnesium aids vitamin D metabolism, and high vitamin D doses can deplete magnesium levels. Adequate magnesium is vital for effective vitamin D use.

          • Vitamin A: Vitamins A and D, both fat-soluble, work together, but consensus on taking them together has not been clearly established.

          • Timing of Dosage: Some suggest aligning vitamin D intake with circadian rhythms, proposing daytime consumption to avoid sleep disturbances. However, Dr. Holick indicates no evidence supporting the idea that vitamin D disrupts sleep, making it safe to take at any time.

          • Choice of Vitamin D Type: While D2 (ergocalciferol) comes from plants and fortified foods and D3 (cholecalciferol) from animal products and sunlight exposure, Dr. Holick states both forms raise and maintain vitamin D levels equally.

          • Consult Health Care Professionals: Before starting supplements, consulting a health care provider is essential to determine proper dosing and assess potential interactions with other medications or health conditions.

          While supplements may be useful, integrating them with natural vitamin D sources and a balanced lifestyle is crucial for overall well-being.

          Tyler Durden
          Sat, 04/06/2024 – 19:50

        • "West Point Mafia" Has "Systematically Destroyed The Nation's Maritime Strength" 
          “West Point Mafia” Has “Systematically Destroyed The Nation’s Maritime Strength” 

          Captain John Konrad, CEO of gCaptain, a website specializing in tracking the shipping industry, blames the “West Point Mafia” and decades of land wars in the Middle East for a hollowed-out US Navy that was entirely “unprepared” for the salvage operation of the collapsed 1.6-mile-long Francis Scott Key Bridge in Baltimore, Maryland. 

          Konrad explained, “Truth is bridges are an Army Corps of Engineers responsibility but they are so unprepared they gave the job to Navy Salvage to lead. Navy salvage is so broken they had to outsource it to the US subsidiary/partner of a European firm which is chartering equipment from private companies at great expense.”

          “And it’s the Army’s own fault. The West Point Mafia has systematically destroyed our nation’s maritime strength,” he said, adding that China would’ve had the Baltimore shipping channel “fully cleared in weeks,” not months (read more about the reopening timeline here). 

          Here’s more from Konrad on X and his epic rant against the “West Point Mafia”: 

          China could have the Baltimore ship channel fully cleared in weeks but yesterday @POTUS said yesterday for the Army Corps of Engineers it will take months.

          I blame the West Point Mafia and their budget demon. Please let me explain…

          Truth is bridges are an Army Corps of Engineers responsibility but they are so unprepared they gave the job to Navy Salvage to lead. Navy salvage is so broken they had to outsource it to the US subsidiary/partner of a European firm which is chartering equipment from private companies at great expense. Equipment that’s weak & small compared to what the European parent has overseas.

          And it’s the Army’s own fault. The West Point Mafia has systematically destroyed our nation’s maritime strength. 

          When I was 10 Vinzzini taught me the first lesson of war “You’ve fell victim to one of the classic blunders! Never get involved in a land war in Asia” 

          Yet in my adult life the United States fought not one but two wars in Asia. 

          How did we pay for those? By gutting our maritime capabilities. 

          With Chinese military capability growing exponentially, how do you win a war in Asia? The same way we did in WW2: with ships & marines with the Army and Air Force serving a support role 

          Except there is a problem, the current and last Secretaries of Defense are West Pointers. The SECDEF before that was a marine but he was forced out after a disagreement with the Secretary of State who was a West Pointer 

          Two decades of Land Wars in asia have decimated our Maritime capabilities as trillions was rerouted into Army coffers by the West Point mafia demon in DC 

          And now that the land wars are over is the Army Corps of Engineers helping rebuild shipyards and bridges? Is the Army rebuilding its once mighty fleet of dredges? Is it working jointly with the SeaBees and Merchant Marine? Is it rebuilding watercraft? 

          No today’s West Point mafia leader Jack Reed controls the powerful Senate Armed Services Committee & has blocked the Future of the Navy Commission That Congress created to develop a Naval rebuilding strategy 

          Now under General Lloyd Austin & Reed EVERY SINGLE navy shipbuilding project is delayed. 

          The West Point Mafia has gutted every Maritime service: 

          Navy National Guard (Naval Militia): now only a boat service in a small handful of states 

          United States Navy Armed Guard: gone 

          US Navy Reserve: zero ships in inventory 

          USCG Icebreaker fleet: down to one ship 

          US Navy salvage fleet: mostly gone 

          Seabees: cut to 7,000 active personnel 

          Merchant Marine: now less than 80 ships in international service 

          MARAD Ready Reserve Fleet: small & on average age a half century old 

          US Maritime Service: just a handful of officers at the US Merchant Marine academy 

          Marine Hospital Service; gone except the uniforms 

          NOAA Officer Corps: down to 330 officers 

          Army Corps of Engineers dredge fleet: includes ancient hulls like the 57-year-old dredge McFarland 

          Army Corps of Engineers salvage: the last SECDEF, @EsperDoD sold all Army salvage vessels in Baltimore

          Army Watercraft: gutted by at action by Esper 

          USCG: forced to cut 10 cutters this year alone 

          I could go on but I have something more important to say: 

          🚨 NOW THEY ARE COMING FOR THE CARRIERS AND SUBMARINES🚨

          (I will post the details of the carrier and sub delays in post 2 of the thread) 

          If Jack Reed & the West Point Mafia wins the next war in Asia will be lost. 

          Problem is there is nobody to stop them because the think tanks, defense contractors and DoD civil servants know who wields the power and nobody in Navy or Coast Guard uniform has the moral courage to ruin their career by calling out Jack Reed & General Austin in the media or during a senate hearing. 

          PS why am I using quotes from the Princess Bride & making light of the problem by creating the West Point Mafia Demon meme? Because it doesn’t require a PhD to see what is happening. 

          The gutting of every critical maritime capability to pour money into Land Wars is something any 10 year can see is idiotic.

          https://platform.twitter.com/widgets.js

          Konrad asks: “Why am I able to call out the Jack Reed and General Austin when NOBODY else in DC or the DOD is?”

          https://platform.twitter.com/widgets.js

          Konrad describes a colossal mismanagement of the US Armed Forces despite record defense spending. 

          Tyler Durden
          Sat, 04/06/2024 – 19:15

        • 'Animal Spirits' Update (Or Reflections On Another Fake Unemployment Report)
          ‘Animal Spirits’ Update (Or Reflections On Another Fake Unemployment Report)

          Authored by Elliott Middleton via ‘End Times Meditation’ Substack,

          The BLS is reporting the March unemployment rate down slightly to 3.8 percent, nowhere near the 4.5 percent that it will take to trigger a collapse of confidence. 

          ZeroHedge has detailed how fake the BLS’s numbers have become in a series of recent posts (yesterday’s highlights are here and here).

          When I was in academics, my research program was on the application of psychology to economics, especially the fundamental psychological law of sensitivity to adaptation level.

          Back in the 1990s, I was featured in a front-page article in the Wall Street Journal on “animal spirits” or confidence levels.

          I discovered that when the unemployment level rises above a 4-year exponential moving average of the unemployment rate (in which more recent observations are weighted more heavily), confidence collapses, the unemployment rate skyrockets upward, and economic activity contracts sharply.

          This event marks the end of the business cycle.

          While the economy has been stagnating for most people recently, we have not experienced this signal event, the collapse of confidence that occurs when the recession begins.

          The post below describes my intellectual journey and was published in ZeroHedge on June 21, 2022, and is highly recommended if you haven’t read it already.

          Read full story…

          We can expect laughable unemployment reports for the rest of the year. Meanwhile, private industry sources keep track of announced layoffs.

          Via intellizence.com:

          Leading Companies Announcing Layoffs And Hiring Freezes in 2024

          The following is the list of major layoffs, job cuts, and hiring freezes announced by leading companies in 2024.

          Since January 1st, 2024, 151,943+ companies have announced mass layoffs.

          [Last update: April 01, 2024]. [emphasis added]

          The Biden administration is aware of my work and apparently will do anything to prevent the reported unemployment number from climbing to 4.5 percent before the election, which would trigger a collapse of confidence.

          The adaptation level is currently at 4.53 percent. Look at the graph below.

          There is still a gap of 4.53 – 3.8 = 0.73 unemployment percentage points, too wide for people to feel that “things are getting worse than what we’re used to.”

          The difference between the unemployment rate and the adaptation level can be flipped to be presented as a confidence level. By this metric, confidence is still quite high (though trending lower).

          Real per capita personal income is almost exactly on trend for the past 30 years.

          Consumers may have a lingering COVID-bubble-stimmy-checks-induced feeling of wealth as well, having recovered from a dip in 2022.

          The recent experience has been nothing like the years following the Great Financial Crisis.

          Unfortunately, more fake data from the BLS coming on top of all the fake data from the FDA and CDC over the past four years will only further extinguish any confidence the American people have in their government’s statistical releases. Or in their government in general.

          Perhaps the BLS will simply stop reporting an unemployment number. This is what the Chinese did with their youth unemployment series.

          Or perhaps they’ll issue a report with all the data redacted like the FDA did with their myocarditis analysis. Every page was redacted.

          The “strong” report this morning suggests that rates will stay higher for longer than many expect. Note in the chart below, showing the inflation rate and the 3-month T-bill rate, that the peak in short-term interest rates came a year after the peak in inflation, the last time the Fed was battling with inflation during the 1980-1982 recessions.

          With the WEF Cabal pursuing their goal of global famine by destabilizing oil production in the Middle East, thereby especially starving China of the means to run its economy and feed its population, a global oil shock appears to be in the making.

          Crunch coming. Will there even be an election?

          We are approaching maximum uncertainty.

          Tyler Durden
          Sat, 04/06/2024 – 18:40

        • Next Big Mineral Trade Revealed By Morgan Stanley 
          Next Big Mineral Trade Revealed By Morgan Stanley 

          Abandoning petrol-burning vehicles and adopting low-­carbon technologies to power tomorrow’s economy are trends accelerating across the nation. To do this, access to rare earth metals, key ingredients in many of these ‘green’ technologies, must be sourced domestically – not from China, an emerging national security threat to the US. As the world fractures into a multipolar state, there is a big push domestically to revive America’s metals and mining industry and reduce reliance on Asia. 

          Morgan Stanley analyst Carlos De Alba recently conveyed his optimistic outlook for the US metals and mining sector to clients. He highlighted that investment levels in the industry have reached their lowest level in decades. He believes the sector is poised for massive investments and outlines the companies that will benefit. 

          “US reliance on import critical minerals has reached a 30-year high, and investment in the industry is near its lowest point in decades,” the analyst said, pointing out America’s heavy reliance on imported minerals from China:

          “The US government has identified 50 minerals it deems critical to the US economy and to national security; for 43 of those critical minerals, more than 50% of domestic consumption depends on imports. 

          Since 1990, the US has seen a significant increase in both the variety of imported minerals and the level of dependence on these imports. In 1990, the US was fully reliant on imports for the supply of 9 minerals, and imports exceeded 50% of consumption for 27 minerals (including all minerals, not only critical ones).

           These figures have risen to 15 and 51, respectively, as of 2022. China currently dominates the global mineral processing/refining industry, and the US is heavily reliant on China (>50% of net import reliance) for imports of 26 minerals.” 

          China’s global dominance in rare earth metals is a national security threat. Were Western leaders asleep at the wheel over the last three-plus decades to allow this to happen? 

          The analyst detailed how China dominates the global supply of rare earth minerals and cautioned against rising vulnerabilities in US mineral supply chains, especially given the ongoing tensions in Sino-US relations:

          “China is in a powerful position to influence the global mineral markets and has already started to flex its strength through mineral export restrictions. For US policymakers, the US’s mineral dependence on imports highlights the growing vulnerability of the US mineral supply chain and the urgent need to strengthen domestic supply chains. In addition, the US faces a multi-decade decline in investment in the domestic mining and exploration industry, which has fallen from ~2.0% of GDP in 1960 (and a peak of ~3.1% in 1981) to just ~0.5% today.”

          After being asleep at the wheel for decades, the bloated US government, thank former President Trump – has awakened from its slumber and realized that it must play a serious “catch-up” game with policy reform and incentives for private industry to rebuild America’s domestic mining and separation sector. 

          “US permitting reform and other government incentives will likely act as a tailwind for the domestic mining industry through encouraging the development and helping mitigate the associated risks of building new mine supply,” the analyst said.

          He said the big winner of “permitting reform” that is “geared toward promoting the development of mining projects” will be the “Junior Mining and Exploration industry.” 

          One company that stands to benefit is MP Materials, the largest US-based miner of rare earths. The analyst said this company is a “play on accelerating adoption of electric vehicles and electrification trends in wind turbines.” 

          He continued:

          “The company’s mission is to restore the full US rare earth supply chain. MP has executed on its plan of restarting the Mountain Pass mine in California and it is currently ramping a refining facility to produce rare earth oxides. The company will get into the production of NdFeB alloy flake and permanent mag-nets (critical components for electric vehicles and wind turbines) with a plant that is under construction in Texas.” 

          Shares of MP Materials have roundtripped Covid lows. 

          He said Cleveland-Cliffs Inc and United States Steel Corporation are “key beneficiaries to building ex-China supply chains given CLF is currently the only producer of electrical steel in the US and X is ramping up a greenfield electrical steel facility this year.” 

          He added: “All steel names under our coverage (NUE, STLD, CLF and X) will broadly benefit from re-shoring trends given manufacturing facilities, and the equipment to outfit them is often steel intensive.” 

          And the analyst listed a few junior miners with assets in the US that should interest investors:

          • American Rare Earths Ltd (ARR.AX | Market Cap ~A$138 million): ARR is a rare earth exploration & development company. Their 100% owned flagship project, Halleck Creek deposit, is located in Wyoming and has extensive rare earth mineralization. According to the company, the project has the potential to be amongst the largest rare earth deposits in the US

          • USA Rare Earth (Private): According to USA Rare Earth, the company owns the only scalable, sintered neo-magnet manufacturing system in the Western Hemisphere (located in Oklahoma). The company is targeting magnet production in 2024 and is aiming to supply the plant with rare earth feed stock mined from the Round Top property in Texas in late 2025 or early 2026. USA Rare Earth owns an 80% stake in the Round Top property, Texas Mineral Resources (OTCBQ: TMRC) owns the remaining 20% stake.

          • Perpetua Resources (PPTA.TO | Market Cap ~C$360 million): Perpetua’s flagship development project is the Stibnite Gold Project located in Idaho, which according to the company has one of the largest economic reserves of antimony and could supply ~35% of US demand in the first six years of production. Antimony is considered a critical mineral and is used in batteries, munitions and semiconductors. The company was recently awarded up to $15.5 million in funding for the Department of Defense to help demonstrate a fully domestic antimony trisulfide supply chain.

          • IperionX Ltd. (IPX.AX, IPX.O | Market Cap ~A$525 million): IperionX goal is to re-shore a fully integrated titanium metal supply chain to the US. The company plans on extracting titanium minerals from its Titan Project in Tennessee, in addition to producing rare earths and zirconium as co-products. The company plans on producing high-performance titanium alloys, from titanium minerals or scrap titanium

          In addition to profiting from what could soon be an explosion of investment in the mining sector, we outlined to readers days ago another big trade theme in a note titled “The Next AI Trade.”

          Tyler Durden
          Sat, 04/06/2024 – 18:05

        • SEC Forced To Halt Climate Reporting Mandate For Businesses
          SEC Forced To Halt Climate Reporting Mandate For Businesses

          Authored by Naveen Athrappully via The Epoch Times,

          The U.S. Securities and Exchange Commission (SEC) paused the implementation of its climate disclosure requirements for companies as legal challenges against the rules are pending in a circuit court.

          In March, the SEC finalized a controversial rule requiring publicly traded companies to disclose any climate-related risks to their business. The SEC’s Final Rules also required some midsize and large firms to reveal how much CO2 is emitted from their operations. This led to several Republican states, companies, and business groups filing lawsuits against the regulations, asking for the SEC rule to be stayed. Two energy companies—Liberty Energy Inc. and Nomad Proppant Services LLC—sought an administrative stay on the rule, which was granted by the Fifth Circuit court on March 15.

          According to SEC rules, businesses must report on the potential impact climate risks may have on their financial condition as well as the strategies undertaken to mitigate such risks. Businesses have to disclose their climate targets and the losses suffered due to severe weather events.

          Other legal challenges against the rule were filed at the Second, Sixth, Eighth, Eleventh, and D.C. Circuit courts. All the lawsuits, including the Fifth Circuit one, were consolidated into a single case, with the Eight Circuit set to hear the challenge.

          On March 26, the Chamber of Commerce of the United States of America, the Texas Association of Business, and the Longview Chamber of Commerce filed a motion in the Eighth Circuit, seeking a stay of the SEC rules pending judicial review.

          Challenging SEC

          Lawsuits from Republican states claim that the SEC breached their rule-making authority by asking public firms to disclose climate risks while such regulations have not received approval from Congress.

          SEC’s rules create costly, unnecessary “red tape” for businesses. They accused the climate rules of being part of the Biden administration’s push to make sure investment decisions in the country are driven by climate considerations rather than financial returns.

          On April 4, SEC Secretary Vanessa Countryman issued an order staying the agency’s climate rule requirements while litigation proceeded in the Eighth Circuit.

          Ms. Countryman argued that given the procedural complexities involved in litigating the multiple cases filed against the climate rules, the SEC’s stay “will facilitate the orderly judicial resolution of those challenges.”

          In addition, “a stay avoids potential regulatory uncertainty if registrants were to become subject to the Final Rules’ requirements during the pendency of the challenges to their validity.”

          Though the SEC is issuing a stay on the climate rule, the agency continues to hold the view that the regulations are “consistent with applicable law” and within the authority of the commission, the order stated.

          “Thus, the Commission will continue vigorously defending the Final Rules’ validity in court and looks forward to expeditious resolution of the litigation.”

          ‘Outrageous’ Climate Mandate

          Iowa Attorney General Brenna Bird, one of the Republican AGs that led 25 states to file lawsuits against the climate rules, called the SEC’s April 4 stay a “victory” that “shuts down the most outrageous climate mandate for businesses since Biden took office.”

          “The SEC’s job is to protect people from fraud. It has no business slapping companies with extremist climate mandates. We are making it clear that Biden has to follow the law like everyone else,” she said.

          “By halting this mandate, we are protecting businesses from costly red tape, securing our supply chain, and defending family farms. Next, we are going to make this win permanent!”

          In addition to Iowa, other states in the lawsuit are Alabama, Alaska, Arkansas, Georgia, Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, and Wyoming.

          The SEC rule “will also require businesses to disclose climate-related risks, including higher insurance rates from weather disasters, and release a plan to adapt to climate-agenda recommendations. The plan is estimated to cost businesses billions of dollars every year.”

          SEC Votes

          When the SEC finalized its climate rules in March, agency commissioners had voted 3–2 to pass the measure. The votes were done along party lines, with all Democrats voting in favor of the rule and Republican commissioners voting against it.

          Republican commissioner Hester Peirce had pointed out that the climate rules would be expensive and burdensome for businesses while creating a large amount of inconsistent information overwhelming investors.

          “However well-intentioned, these particularized interests don’t justify forcing investors who don’t share them to foot the bill,” he said. The SEC estimates the climate rule to impact around 2,800 American firms.

          The rules adopted in March were a watered-down version of an earlier draft that contained more stringent measures, including requiring companies to report certain indirect emissions. These stringent measures triggered intense opposition from the business community.

          In an interview with The Epoch Times in June 2022, Sean Griffith, a professor at Fordham University School of Law, suggested that SEC rules enforce viewpoint discrimination since the regulations are essentially forcing companies to endorse certain assumptions about how the earth’s climate is being affected by human actions.

          “The reason why the climate rules are so problematic is that either they’re politically driven—which is very plausible—or they are driven by this desire to appease the institutional asset manager community, which has its own profit interest because they generate revenue from the assets under management of those ESG portfolios. At the end of the day, it’s not about investors.”

          Tyler Durden
          Sat, 04/06/2024 – 17:30

        • More Easy Money Will Plunge Us Into Stagflation
          More Easy Money Will Plunge Us Into Stagflation

          Authored by Daniel Lacalle via The Mises Institute,

          Thirty major central banks are expected to cut rates in the second half of 2024, a year when more than seventy nations will have elections, which often means massive increases in government spending. Additionally, the latest inflation figures show stubbornly persistent consumer price annualized growth.

          In the United States, headline PCE inflation in February will likely grow by 0.4%, compared with a 0.3% rise in January, and consensus expects a 2.5% annualized rate, up from 2.4% in January. This is on top of the already 20% accumulated inflation of the past four years. Core inflation will likely show a 0.3% gain, according to Bloomberg Economics, which means an annualized 2.8%, building on top of the price increases of the past years.

          Thirty central banks easing and seventy national governments increasing spending in an election year means more fuel for the inflation fire in a year in which money supply growth has bounced significantly from its 2023 lows.

          Central banks ignored monetary aggregates when they shrugged off the risk of inflation in 2020, and now they are, again, easing way too fast when the battle against inflation has not finished.

          Furthermore, the only real tool that central banks have used is hiking rates, because different parallel measures of money growth, including reverse repo liquidity injections, have kept money supply growth at an elevated rate even when the balance of the G7 central banks was moderating, albeit at a slower pace than announced.

          Cutting rates may come too late because, by the time it is implemented, it will cause a double negative.

          Government deficits will be cheaper to refinance, bloating an already record-high public debt yet again, but those cuts may have little impact on small and medium enterprises and families because they suffer significantly more from the accumulated effects of inflation, which means weaker margins, more difficulties to make ends meet, and impoverishment.

          We must also remember that these persistent levels of official inflation come after relevant tweaks in the calculation of the consumer price index. We certainly know one thing: consumers do not pay attention to the annualized rate of growth in prices, but to the accumulated level of destruction of their purchasing power, and everyone, from Europeans to Americans, knows that they have become artificially poorer by the insane fiscal and monetary policies implemented in 2020.

          Nobody who takes inflation seriously would even consider easing in an election year, adding trillions of dollars of deficit spending to the fire of inflation. Furthermore, the history of inflation warns us about giving up easily and too fast.

          The Fed is making a big mistake by cheering the headline economic figures that come from disguising a private sector recession with a massive increase in public debt and weakening employment figures embellished by temporary jobs and public sector hiring. Additionally, it is making a mistake by giving dovish signals that make market participants take more risk. There has been no relevant reduction in the money supply if we include the different layers of liquidity injections. Announcing forthcoming rate cuts will certainly make speculative debt rise but will hardly change the credit demand from the backbone of the economy, small businesses, and families. Since the US government has rejected any calls for normalization and instead added more deficits and debt as if rising bond yields were not a problem, citizens and businesses have already suffered greatly from ongoing inflation and rate increases. As such, the rate cuts will help an already bloated government spending and the zombie corporations that keep access to capital markets. Everyone else will be hurt both ways, with inflation and lower access to credit.

          You may think all the above problems are policy mistakes, but they are not. This is a slow process of nationalizing resources. Inflation and artificial money creation through deficits and monetization are a gradual transfer of wealth from real salaries and deposit savings to the government. You are basically becoming poorer to sustain an ever-increasing government size. The next time you read that massive deficits and monetary easing are good policies for the middle class, ask yourself why you find it harder each year to pay for goods and services. The mistakes made in 2020–2024 will cost the middle class many more taxes, even if the government promises it will only be “taxes on the rich,” the oldest gimmick to raise your taxes.

          More taxes, persistent inflation, the hidden tax, and the loss of value of your wages. That is “easing” for you. A private sector recession with headline economic figures bloated by government debt. The recipe for stagflation.

          Tyler Durden
          Sat, 04/06/2024 – 16:20

        • Arabica Coffee Prices See Largest Weekly Jump In Nearly Three Years 
          Arabica Coffee Prices See Largest Weekly Jump In Nearly Three Years 

          As if hyperinflating cocoa bean prices and re-accelerating global food inflation weren’t enough, Arabica coffee futures hit their highest level in over a year and a half. 

          Arabica coffee futures with May delivery jumped 12.5% on the week (the largest weekly gain since July 2021), closing at $2.12 per pound. 

          The contract is at its highest level since early October 2022. 

          As for weekly CFTC data on futures and options, managed money-only long contracts hit a record high. 

          “The current move can largely be attributed to a heat wave in Vietnam affecting Robusta coffee production and as a result, providing carryover support for premium Arabica beans,” Aakash Doshi, senior commodities strategist at Citi, wrote in a note to clients. 

          Doshi forecasts Arabica coffee futures to be trading between $1.88 and $2.15 through the 2024 calendar year. He indicated prices could go higher if the physical outlook tightens. 

          Separately, Hernando De La Roche, a senior vice president at StoneX Financial Inc., told Bloomberg that dealers were caught in a vicious “short and forced to cover while funds have been adding long positions,” adding that importers were forced to abandon hedges. 

          Meanwhile, the recent surge in Brent crude prices due to the worsening geopolitical situation in the Middle East could begin to lift global food prices. 

          Food inflation is not going away. This is more bad news for central banks. 

          Tyler Durden
          Sat, 04/06/2024 – 15:45

        • Too Hot To Handle: Gold Due For A Correction?
          Too Hot To Handle: Gold Due For A Correction?

          Via SchiffGold.com,

          With gold hitting yet another awe-inspiring all-time high in the wake of Powell’s remarks reassuring markets (more or less) to expect rate cuts in 2024, a few analysts are pointing out risk factors for a correction – so is there really still room to run?

          The Wall Street Journal points out that oil price spikes driven by the acceleration of war in the Middle East could cause the Fed to reverse its position of cutting rates three times this year – especially as the Strategic Petroleum Reserve has reached historic lows.

          Since Biden took office, the SPR has been drained by over 40% — ironically, as part of a desperate gambit to keep oil prices artificially low in the face of its proxy war in Ukraine and out-of-control inflation, which can only get even worse after the Fed cuts rates. Now that the SPR won’t be refilled as expected (itself a taxpayer-funded sale), Americans will feel even more of the inflationary reality when they head to the gas pumps.

          For context, the SPR was founded in 1975 and is now hovering at levels not seen since the early 80’s:

          Source: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcsstus1&f=a

          But as the conflict in Gaza and beyond continues to accelerate, the US will find more excuses to expand its own involvement as it has from the start.

          Whatever form the meddling takes, the US will inevitably need to finance it by printing money. So, as usual, the Fed is damned if they do and damned if they don’t, defeated by their own games: they need to finance the Middle East meddling with money printing, but both the money printing required to fund the war and the effects of the war itself will work together to drive oil prices up.

          Coincidentally, both factors will also work together to push gold to hit fresh all-time highs this year, unless the Fed decides to buck the Military-Industrial Complex and renege on its rate cut promises, making it much more challenging for Biden administration war hawks to keep the US involved to the extent they’d like.

          On the same topic of Russia and the Middle East, the BRICS countries’ continuing de-dollarization efforts mean that we can expect them to keep stockpiling gold as they continue to divest from petrodollar dependence. Russia says they’ll be doubling their gold and foreign currency purchases, and China’s central bank just hit a new reported record high for its gold reserves late last month.

          Still, some are skeptical, saying that gold and other metals are overbought and due for a correction, and interpreted Powell’s remarks on Wednesday as mildly hawkish. Powell did say that more progress needs to be made on inflation in order for the Fed to move forward with rate cuts. These statements added a dash of uncertainty for some:

          “We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down towards 2 percent…Reducing rates too soon or too much could result in a reversal of the progress we have seen on inflation and ultimately require even tighter policy to get inflation back to 2 percent.”

          But even as Powell admitted the fight against inflation is “not done” (an epic understatement), markets were reassured that the Fed is still expecting to lower interest rates, saying that the data doesn’t justify changing the current course:

          “The recent data do not, however, materially change the overall picture, which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2 percent on a sometimes bumpy path.”

          So is gold too overbought, or does the macro environment provide enough upward pressure to give it room to keep running?

          While short-term corrections are always something to consider during such dramatic price-run ups, I’d call them buying opportunities.

          And if the mainstream media’s reaction is to be used as a barometer, the true reality of what the skyrocketing price of gold truly means for the economy and the US dollar still hasn’t been priced in. As Peter Schiff tweeted earlier this week:

          https://platform.twitter.com/widgets.js

          The more skeptical analyses acknowledge that it will be an uphill battle for it to sustain the same awe-inspiring upward pace that it has had since the start of the year. But even they, like I, still expect a confluence of factors in 2024 to continue pushing it higher.

          Tyler Durden
          Sat, 04/06/2024 – 15:10

        • Mexico Breaks Diplomatic Ties With Ecuador After Police Raid On Quito Embassy 
          Mexico Breaks Diplomatic Ties With Ecuador After Police Raid On Quito Embassy 

          Mexican President Andrés Manuel López Obrador is severing diplomatic relations with Ecuador following a police raid on the Mexican embassy in Quito, Ecuador’s capital, where they arrested former Vice President Jorge Glas, who had sought political asylum in the embassy after being indicted on corruption charges. 

          AMLO announced Friday night that Ecuadorian police raided the Mexican embassy to arrest Glas. He has been hiding in the embassy since December as diplomatic relations between the two countries deteriorated. 

          https://platform.twitter.com/widgets.js

          “This is not possible. It cannot be. This is crazy,” Roberto Canseco, head of the Mexican consular section in Quito, told local press, as quoted by AP News. 

          Canseco continued, “I am very worried because they could kill him. There is no basis to do this. This is totally outside the norm.”

          Glas, one of the most wanted men in the South American country, was recently convicted of bribery and corruption. 

          AMLO called Glas’ arrest an “authoritarian act” and “a flagrant violation of international law and the sovereignty of Mexico.”

          Hours before the raid, Mexico granted Glas political asylum – something the Ecuadorian government viewed as illegal. 

          Ecuador’s Presidency wrote in a statement, “Ecuador is a sovereign nation, and we are not going to allow any criminal to stay free.” 

          On social media platform X, Alicia Bárcena, Mexico’s foreign relations secretary, said her team will take Glas’ detainment to the International Court of Justice “to denounce Ecuador’s responsibility for violations of international law.”

           

          Tyler Durden
          Sat, 04/06/2024 – 14:35

        • World War II Didn't End The Great Depression
          World War II Didn’t End The Great Depression

          By Brian McGlinchey via Stark Realities

          A principal goal of Stark Realities is to “expose fundamental myths across the political spectrum” — and few myths are as universally embraced as the notion that US participation in World War II lifted the American economy out of the Great Depression.

          This myth is dangerous not only because it leads citizens and politicians to see a bright side of war that doesn’t really exist, but also because it helps foster a belief that government spending is essential to countering economic downturns. That belief, in turn, has helped propel us to a point where the national debt now exceeds $34.6 trillion, with interest payments alone on pace to reach $1 trillion a year in 2026, inviting financial catastrophe.

          In part, the wartime-prosperity myth springs from the fact that, during conflict on the scale of World War II, broad, macroeconomic measures like gross national product (GNP) and the unemployment rate are completely untethered from the economy’s most important facet: the standard of living enjoyed — or endured— by everyday people.

          Between 1940 and 1944, real GNP rose at an unprecedented 13% annual clip. Using GNP alone, one would think the war delivered a major improvement in the standard of living, with Americans enjoying a greater abundance of goods, accompanied by a rise in quality, selection and affordability.

          The reality was the exact opposite: Americans endured rationing, shortages, declining product quality, and the outright unavailability of many new goods, such as cars, trucks and stoves. This was the inevitable result of factories and raw materials being redirected from the creation of things consumers want to building things like tanks and fighter planes that do nothing whatsoever to improve people’s lives (setting aside the separate issue of the war’s justness).

          In many respects, America experienced an outright economic devolution. In the preceding century, industrialization and the division of labor led to enormous increases in productivity. During World War II, however, shortages motivated people who’d contentedly relied on farmers to start growing their own food and canning it. The scarcity of new clothing led homemakers to redirect time and energy to sewing their own garments and resewing them to stretch as much use out them as possible.

          “Those remaining on the home front were forced to produce for themselves what they had previously been able to purchase,” wrote Steven Horwitz and Michael J. McPhillips. “The household again became a center of production rather than consumption alone.”

          GNP wasn’t the only measure falsely signaling wartime prosperity; employment numbers from the era were likewise misleading. The US unemployment rate plummeted from 17% in 1939 to 1.2% in 1944. Note, however, that military service members are not considered part of the labor force — which means that the draft extracted 11.5 million men from the denominator in the unemployment rate calculation.

          Another 6.3 million volunteered, though many signed up because they preferred to secure a role they favored rather than face the chance of being drafted as an infantryman.

          While it’s true that draftees and volunteers were “employed” by the armed forces, all these millions of men — no matter how noble their overseas missions may have been — weren’t doing anything to create prosperity at home.

          Not a prosperous path to full employment: Soldiers under withering fire on D-Day’s Omaha Beach

          That’s not to say the war machine didn’t demand laborers. With so many able men taken out of the economy, the slack was taken up by teenagers, women and retirees, many who’d have preferred to be doing other things.

          In a growing economy, more people are producing goods and services, and elevating standards of living in the process. That was far from the case during World War II. Factories were humming, but they were making bayonets, bombs and battleships. “Four-tenths of the total labor force was not being used to produce consumer goods or capital capable of yielding consumer goods in the future,” noted Robert Higgs.

          Defying conventional wisdom about “wartime prosperity,” Americans’ standard of living suffered tremendously from their government’s entry into World War II. In The Reality of the Wartime Economy, Horwitz and McPhillips tapped some interesting source material to bring the grim economic realities of American life during World War II into sharp focus.

          For example, a series of newspaper ads placed by Canton Electric Light & Power Company — a local New York State utility — present a vivid, time-lapse portrayal of rapidly declining conditions following the December 1941 declaration of war:

          • Foreshadowing anticipated shortages, a March 17, 1942 ad for appliances is headlined “You Can Still Buy Them.” The ad includes a qualifier that’s upbeat while still signaling creeping scarcity: “We have a fairly good supply.”

          • Just two months later, Canton Electric’s ad says “Now Is The Time” to buy various appliances and equipment, warning that “production of most of these items has stopped and only the supply in your dealers’ stock is available.”

          • Another two months later, a July 1942 ad indicates that some items that were briefly not available are back in inventory.

          • In November of that first year of America’s World War II participation, Canton Electric switched to warning consumers that, “due to the war emergency, it is quite impossible to get replacement motors for civilian use,” and urging them to ensure they’re properly maintaining their “stokers and oil burners.”

          • Later that same month, Canton Electric punted on advancing its retail business altogether, instead using its ad space to encourage readers to grow their own food, eat everything on their plates and comply with ration-stamp rules.

          Horwitz and McPhillips also drew on letters written between 1942 and 1945 by Saidee Leach to her son serving in the Pacific. Contrary to the image of prosperity supposedly indicated by leaping GNP or plummeting unemployment, she tells him of:

          • Conserving scarce home-heating fuel during the coldest days by wearing fur coats indoors and residing only in their kitchen

          • Having her typewriter seized by the government, and now using a lesser model she acquired from a Howard Johnson “which had to close due to the ban on pleasure driving.”

          • Making an Easter dinner centered on fried Spam, because she “could not get fresh meat of any kind,” and later noting that “potatoes have entirely disappeared”

          • Local farmers refusing to sell their turkey flocks for Thanksgiving meals at the prices set by the Office of Price Administration — illustrating the folly of government price controls.

          That is not the picture of an economy delivered from the Great Depression. Rather, “World War II institutionalized the falling standards of living of the depression through wage and price controls, and extensive rationing of consumer goods and services,” wrote Peter Ferrara. “The economic deprivation, and reduced standards of living, continued, although people perceived it was now for a good cause.”

          America’s postwar experience presents another pointed contradiction of the myth of wartime prosperity.

          As the war’s end grew closer, Keynesian economists unanimously predicted peace would bring economic disaster. For example, Paul Samuelson said America would experience “the greatest period of unemployment and dislocation any economy has ever faced.” 

          Alvin Hansen warned that the economy must be kept on a centrally-controlled wartime footing, even in peacetime: “When the war is over, the government cannot just disband the Army, close down munitions factories, stop building ships, and remove all economic control.”

          Nobel Prize winner Paul Samuelson, who predicted peace would bring economic disaster, taught Nobel laureate Paul Krugman, who predicted the internet’s impact would be akin to that of the fax machine

          However, that’s pretty much what happened — and Hansen, Samuelson and their fellow economic flat-Earthers couldn’t have been more wrong about the consequences. “The year 1946, when civilian output increased by about 30 percent, was the most glorious single year in the entire history of the U.S. economy,” wrote Higgs.

          This despite the fact that government purchases of goods and services collapsed by 68% between the second quarter of 1945 and the first quarter of 1946 — and upwards of a million civilian government employees were laid off and millions of service members discharged.

          As war-fighting men poured back into civilian life, millions of women withdrew from the labor force, contentedly returning to duty as mothers and home managers. Rather than soaring as predicted by the “experts,” unemployment merely edged higher, from 1.9% in 1945 to 3.9% in 1947.

          “Less than a year and a half after VJ-day,” crowed President Truman, “more than 10 million demobilized veterans and other millions of wartime workers have found employment in the swiftest and most gigantic change-over that any nation has ever made from war to peace.” (Note this happened despite — and in part because of — Truman’s failure to institute a higher minimum wage as the war ended.)

          Having been proven enormously wrong about the economic implications of peace, Keynesians scrambled to credit the war with enabling the postwar boom, arguing that it was fueled by people drawing down savings accumulated while the supply of consumer goods was sharply restricted. However, as Higgs determined by studying the data of the time, “Holdings of liquid assets did not decline at all after the war. People financed their spending for consumer goods by reducing their saving rate.”

          Once again an engine of real prosperity: In 1946, vehicles proceed along Ford’s first postwar assembly line (Ford Motor Company Archives)

          Contrary to the myth, it was only after World War II that — free from the government’s commandeering of factories, workers and resources, and saddled with fewer price controls and other federal market intrusions — America was finally able to emerge from the Great Depression.

          You wouldn’t know that if you evaluated the economy’s health using Keynesians’ preferred measure. Just as the GNP gauge provided a 180-degree misreading of wartime economic realities, it failed in similarly spectacular fashion during the postwar boom: From 1945 to 1947, GNP plummeted 22%.

          In addition to further illuminating the shortfalls of aggregate economic measures, America’s postwar economic experience delivered another broadside to the myth of World War II-fostered prosperity, and to the idea that government spending, central planning and market interventions are essential to economic achieving economic recovery.

          Stark Realities undermines official narratives, demolishes conventional wisdom and exposes fundamental myths across the political spectrum. Read more and subscribe at starkrealities.substack.com 

          * * *

          Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.

          Tyler Durden
          Sat, 04/06/2024 – 14:00

        • "The Allegation Is False": CIA Denies Meddling In Hunter Biden IRS, DOJ Investigations
          “The Allegation Is False”: CIA Denies Meddling In Hunter Biden IRS, DOJ Investigations

          The CIA has denied a whistleblower allegation that the agency “intervened in the investigation of Hunter biden to prevent the Internal Revenue Service (IRS) and the Department of Justice (DOJ) from interviewing a witness,” according to a response issued to House Republicans on Friday.

          According to the whistleblower, in August 2021, the IRS wanted to interview Hunter Biden associate (who loaned Hunter $6.5 million), Patrick Kevin Morris – and that “the CIA intervened to stop the interview.“

          “Two DOJ officials were allegedly summoned to CIA headquarters in Langley, Virginia for a briefing regarding Mr. Morris,” at which “it was communicated that Mr. Morris could not be a witness during the investigation.”

          CIA Denies

          Two weeks later, the CIA has responded in a letter to House Oversight Chair James Comer and House Judiciary Chair Jim Jordan (‘obtained first’ by CNN).

          “Without confirming or denying the existence of any associations or communications, CIA did not prevent or seek to prevent IRS or DOJ from conducting any such interview. The allegation is false,” CIA Director of Congressional Affairs, James A. Catella, wrote to the Chairs.

          House Republicans push back

          In response to the response, House Judiciary Committee spokesman Russell Dye told CNN “The allegation is not false.”

          In a Friday post to X following the CNN report, the House Judiciary GOP said “The CIA is wrong. But what’s new?”

          https://platform.twitter.com/widgets.js

          Raskin POUNCES

          Following the CIA’s reply, the top Democrat on the House Oversight Committee, Rep. Jamie Raskin (D-MD) slammed the Republicans for not sharing their source.

          “This is a serious charge, but you have completely ignored my staff’s requests to be allowed to review the information that you say prompted your letter and upon which your letter is putatively and entirely based,” Raskin wrote to Comer on Friday.

          Republicans have raised questions over Morris’ loans to Hunter Biden, which Morris claims has nothing to do with President Joe Biden..

          https://platform.twitter.com/widgets.js

          Tyler Durden
          Sat, 04/06/2024 – 13:25

        • Ukrainian Men Paying Disabled Women To Marry Them To Avoid Frontlines: Report
          Ukrainian Men Paying Disabled Women To Marry Them To Avoid Frontlines: Report

          Authored by Steve Watson via Modernity.news,

          Ukrainian men are reportedly paying disabled women in the country to marry them, as a way of avoiding being drafted to fight on the frontlines of the war with Russia.

          An investigation by Ukrainian outlet NGL Media found that fighting age men are exploiting a loophole in the country’s martial law that allows them to skip military service.

          If they have a disabled dependant, they are able to apply for a deferral from military duty as well as being allowed to cross the border, at which point many are fleeing for good.

          The investigation found scores of Facebook and Telegram groups in which men are posting marriage proposals, and disabled women are offering marriage to the highest bidders.

          There are even people profiting from the practice by acting as intermediaries.

          The investigation notes that a payment of around €3,000 is usually enough to secure a sham marriage to a disabled woman.

          Yevhen Filipets, a lawyer in Ukraine, told the outlet “In my experience, out of 100 cases of servicemen who apply for discharge for family reasons, 95 cases use that topic, i.e., if their wife, their parents or their wife’s parents have a disability.”

          “To get an exemption, it is enough to have such a marriage,” the lawyer added.

          Filipets further noted that “it is almost impossible to prove the marriage is fake; it is possible only through a court decision. And one of the spouses has the right to go to court to recognise such a marriage as fake. Will he or she apply in these circumstances? I don’t think so. (…) Ukrainian people are very resourceful.”

          As we highlighted earlier this week, Ukrainian President Volodymyr Zelensky has signed a law that lowers the country’s age of conscription by two years to make up for troop shortfalls.

          The new legislation lowers the age of mobilization from 27 to 25 years, meaning more young men will be removed from the struggling Ukrainian economy and sent off to the meatgrinder in anticipation of another Russia summer offensive.

          Videos have previously emerged which purport to show Ukrainians who tried to avoid being conscripted being thrown off a bus and beaten by SBU, Ukraine’s equivalent of the FBI.

          The average age of a Ukrainian soldier is now over 40 years of age, the same as Russia, underscoring how the whole conflict has been a devastating bloodbath for both sides.

          Well over 100,000 Ukrainian soldiers have been killed already, forcing Ukraine to call up older personnel.

          As we previously highlighted, shocking videos have emerged showing a mentally disabled people on the front lines of the war being mocked by other soldiers.

          Last month, General Rajmund Andrzejczak, the ex-chief of the Polish General Staff, said that Ukraine is losing the war.

          “More than 10 million people are missing. According to my estimates, losses should be in the millions, not hundreds of thousands. The country has no resources, no one to fight. Ukrainians are losing this war,” said the general.

          Also this week, US State Department consultant Edward Luttwak says that NATO countries will have to send soldiers to Ukraine or “accept catastrophic defeat,” and that Britain and France are already making preparations to do so.

          *  *  *

          Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

          Tyler Durden
          Sat, 04/06/2024 – 12:50

        • Fani Opened Up To Felony? DA Willis Now Accused Of Illegally Recording Lawyer, Given Till Monday To Recuse
          Fani Opened Up To Felony? DA Willis Now Accused Of Illegally Recording Lawyer, Given Till Monday To Recuse

          Fulton County District Attorney Fani Willis has been accused of illegally recording a lawyer in the Trump-Georgia case.

          During an interview with Townhall columnist and legal analyst Phil Holloway, an attorney for Trump co-defendant Harrison Floyd, Christopher Kachouroff, claimed that Willis recorded a phone call between herself and one of his colleagues in Maryland.

          “Fani did reach out to one of my colleagues in Maryland” said Kachouroff. “And was rude and abrupt with him on the phone … and she ended up recording him.“

          He further noted that Maryland is a “two party state,” meaning that both parties on a phone call have to consent to being recorded.

          “So, are you saying she illegally recorded a phone call?” asked Holloway.

          “Oh yeah, it’s a felony in Maryland,” Kachouroff replied.

          Watch:

          Maryland is one of 11 states which require two-party consent. Under the state’s Wiretap Act, recording a private conversation without consent from both parties is punishable by up to five years in prison, a fine of up to $10,000, or both.

          Harrison Floyd, the defendant, has given Fani until noon on Monday to recuse herself from the case or he “may have no other choice than to pursue all lawful remedies.”

          As Redstate notes: 

          In Floyd’s tweet, it refers to Willis providing a copy or a recording of a call to the Atlanta Journal-Constitution between herself and Carlos J.R. Salvado, an attorney in Maryland, who also represents Floyd on an unrelated matter. 

          Atlanta News First and Newsweek have reached out to Willis’ office for comment on this new allegation but she doesn’t appear to have weighed in yet. It will be interesting to see what her response to this allegation is. 

          Floyd, who served as a senior campaign staffer for Donald Trump’s 2020 campaign, was indicted by Willis on three felony counts stemming from his alleged efforts to help Trump overturn his loss in the state. The charges include conspiracy to solicit false statements, influencing witnesses, and racketeering. He has also been accused of assaulting an FBI agent in Maryland. He has pleaded not guilty.

          https://platform.twitter.com/widgets.jshttps://platform.twitter.com/widgets.jsFani’s wiretapping accusation is the latest debacle involving Willis’ RICO case against Trump and his allies.

          On Wednesday, special prosecutor Nathan Wade’s estranged wife filed contempt of court proceedings against him. Wade and Willis’ romantic relationship was the focal point of the disqualification efforts against the district attorney’s office. However, Judge Scott McAfee ultimately allowed Willis to remain on the prosecution so long as Wade stepped down. Wade handed in his resignation hours after McAfee’s ruling. –Newsweek

          Floyd, a former Black Voices for Trump leader, turned himself in without a lawyer or bond agreement on August 24 of last year, and was released August 30 on $100,000 bond. He is one of 19 defendants in the case. 

          Tyler Durden
          Sat, 04/06/2024 – 12:15

        Digest powered by RSS Digest

        Apr 06

        Today’s News 6th April 2024

        • World War III Is Now Inevitable – Here's Why It Can't Be Avoided
          World War III Is Now Inevitable – Here’s Why It Can’t Be Avoided

          Authored by Brandon Smith via Alt-Market.us,

          If you’re getting the feeling like the globalists are really pushing hard for WWIII these days, you’re not alone.

          In the past few months there has been multiple instances of European and US officials hinting at the possibility of a new military draft, the EU has talked openly about boots on the ground in Ukraine, NATO officials have stated unequivocally that they WILL NOT accept a loss in Ukraine to the Russians and the Kremlin has warned once again that nuclear weapons are on the table if western troops enter the war. The US government has recently asserted that Ukraine will be joining NATO, a red line in the sand for Russia.

          Then there’s Israel and Gaza. I warned months ago in my article ‘It’s A Trap! The Wave Of Repercussions As The Middle East Fights “The Last War”’ that the war in Gaza would expand into a multi-front conflict that would probably include Iran. I also warned that it would be to Israel’s benefit if Iran entered the war because this would force the US to become directly involved. To be sure, Iran has already been engaging in proxy attacks on Israel through Lebanon, but Israel’s attack on the Iranian “embassy” or diplomatic station in Syria basically ensures that Iran will now directly commit to strikes on Israeli targets.

          In other words, much like WWI, the situation is being escalated by the political elites despite the fact that the general public in the west is increasingly opposed to participating in the conflict. The globalists want to send us to war whether we like it or not.  Every decision they have made so far makes peaceful resolution impossible.

          One saving grace that is perhaps new in the entire history of geopolitics is that the public is far more awake and aware of the fact that it’s not necessarily their “duty” to blindly go fight when their government calls on them to do so. Social media has also given a platform for people to widely voice their concerns about war, whereas in the past objectors felt isolated.

          Obviously, some of this is based purely on fear – A large percentage of Gen Z is unequipped mentally or physically to go to war, which is why more than 70% of potential military recruits today are rejected before they even get to boot camp. These are many of the same young people who post Ukrainian flags to their social media profiles and jump headfirst into anti-Russian rhetoric, but now that they are faced with the possibility of having to sacrifice themselves for Ukraine they are angry and terrified.

          However, there is also a large contingent of capable (and mostly conservative) men with the background and the aptitude for combat that still want nothing to do with Ukraine. The reason is simple: They believe that far-left western governments and globalists want to use them as cannon fodder to get rid of them. Once they are used up in war, there will be no one left to oppose the leftist takeover at home.

          For most of us in America, Ukraine is irrelevant and we grow tired of wars in the Middle East. Whether left or right, we have no interest in fighting for them. But that’s not going to matter much, at least in terms of preventing a global war.

          European Fear Mongering

          War with Russia will depend more on European involvement than US involvement. While the US has been the largest provider of armaments to Ukraine by far, the ultimate goal I believe is to integrate European troops into the Ukrainian front, which would be an automatic declaration of global war.

          The basis for mobilization of troops from Europe is “domino theory” propaganda. We’ve heard some of it here in America but nowhere near the same level as the EU populace. Governments assert that Russia’s goal is to clear Ukraine as a pathway to invade the rest of Europe. This is the same claim used as justification for the US war in Vietnam: “If we let one country fall to the enemy, all the surrounding countries will fall also.”

          Both Ukrainian and NATO leadership suggests that war must continue in Ukraine in order to contain it. There has been no serious discussion of diplomacy, which is utterly bizarre considering the stakes involved. A peace proposal should have been broached the moment the war kicked off and there should have been ongoing efforts to come to an agreement. Instead, even limited peace talks have been thwarted before they truly begin.

          A military draft in Europe is far more likely to succeed, given the socialist nature of the population and the fact that only a tiny percentage of civilians are armed to defend themselves. Even with a public protest movement I have little doubt EU governments will be able to secure a large enough force to send into Ukraine and escalate the war.

          According to the evidence, it’s clear that some NATO troops have already been deployed to Ukraine and have been there for some time. As I’ve noted in past articles, the strategies used during the first Ukrainian counter-attack were far too advanced for Ukrainian troops and leadership to pull off without help. Anti-armor tactics in particular were very familiar; similar in execution to tactics used by US and British special forces. Not surprisingly, as soon as foreign mercenary recruit rates dropped off, Ukraine’s momentum fizzled.

          The Russians are likely well aware of this situation, but as long as smaller groups of soldiers can be sent under the guise of mercenary forces, there’s not much they can do about it. It’s the open deployment of NATO battalions that is cause for greater worry.

          There is zero basis for the domino narrative. Not once has Russia indicated since the start of the conflict that they intend to invade the EU. In fact, Putin has long stated that the war in Ukraine is about protecting the separatists of the Donbas region from Ukrainian reprisal, and about the continued escalation of NATO armament.

          My suspicions about Putin’s connections to the globalists aside, if we look at the war from a basic cost/benefit analysis there is really nothing for Russia to gain by threatening Europe.

          Then there’s the problem of logistics. If Russia is supposedly struggling in Ukraine, how could they have the means to fight on an expanded front against the combined military might of Europe and the US? The only end result would be nuclear war, which both sides would lose. But if you look at the situation objectively, there is a group of people out there that have a lot to gain…

          Attacks On Russian Interior Accelerate

          Smaller attacks on Russian supplies as well as civilians have been escalating in the past month. The terror attack in Moscow (which US intel blames on ISIS) resulted in the deaths of at least 130 people and drone attacks are threatening oil depots along with other resources. In the grand scheme of the war these attacks are inconsequential, but they will undoubtedly lead to extensive bombardment of Ukrainian cities and the further disablement of Ukrainian infrastructure. Power, water and other utilities will be destroyed and a resource crisis will ensue.

          Compared to the US invasion of Iraq, Russia has managed to keep civilian casualties in Ukraine very low. But, each new attack on Russian soil instigates a larger Russian retaliation. And maybe this is the goal – To get the Russians to crater a larger Ukrainian population center thereby giving NATO an excuse to send troops to the region.

          Iran And The Oil Imperative

          In the Middle East the primary driver for international involvement is oil. We all know this. But oil access is not the end goal to the war in Gaza, just a mechanism for getting the US involved.

          I’ll reiterate here that I don’t care which side started the fight or how far back the conflict supposedly goes in history. This is irrelevant. What I do know is that Hamas started this particular war by killing civilians in Israel and you should not start a war unless you’re willing to accept the consequences. That said, I do find it suspicious that Israel’s defensive measures were so useless that they were completely unaware of the Hamas incursion until it was too late.

          In any case the conflagration is guaranteed to bring in other larger military elements. Iran is going to enter the fray now, there’s no way around it. This might happen first in the form of economic warfare, and the Strait of Hormuz is the most likely target. Shutting down 30% of the world’s oil traffic would be disastrous for the west. So, America’s entry is thus also guaranteed.

          The Inflation Factor, US Elections And How Globalists Benefit

          Joe Biden has been struggling for the past three years to manipulate oil prices down by dumping strategic reserves on the market. By artificially keeping oil prices down he keeps energy prices down, and by keeping energy prices down he reduces the growth of CPI.

          The Ukrainian attacks on Russian oil depots have helped to spike gas prices in the past month exactly because Russian oil is still being purchased by western countries through back channels. You can’t just cut off one of the largest energy suppliers in the world without huge effects on prices at the pump. And these attacks are revealing how sensitive the oil market is to the slightest threat to supply.

          Any major conflict in the Middle East will seal the deal and gas prices will explode. Inflation is not just going to be the death knell of Biden’s presidency (assuming presidential elections still matter), it’s going to be the death knell of the leftists and globalists overall UNLESS they can delay a larger economic calamity until they have a scapegoat, or, until they can start a massive war.

          That scapegoat will either be Trump and conservatives, or, Russia and the BRICS (or both). If Trump replaces Biden in 2025 then a crash will be fast and assured and it will be blamed on conservative movements. If Biden stays in a crash will be slower but will still hit hard after it can be blamed on the widening wars.

          Then there’s the scenario of globalists securing a war BEFORE elections take place. Perhaps with the intention of preventing or delaying the vote. Perhaps with the intention of creating enough chaos that the vote can be rigged, or giving the impression that it was rigged, triggering civil unrest. Perhaps with the intention of declaring martial law.

          Obviously, this is where the globalists benefit; either by preventing conservatives from taking power or by embroiling conservatives in a global calamity that they eventually get blamed for. Keep in mind that any conservative/independent opposition to the globalist establishment can now be accused of “Russian collusion.”

          What’s the value of this? Well, it’s an age-old strategy for demonizing freedom fighters – If they are seen by the public as fellow citizens fighting for their rights, then they might be treated as heroes. But, if they’re painted as foreign assests and terrorists seeking to destabilize society, then the public sees them as villains. It’s just another advantage that explains why globalists seem so intent on creating a world war.

          I believe that the reason the establishment is pressing so hard for WWIII is partly because of the upcoming elections and also because their covid agenda failed. Covid lockdowns and the vaccine passport system were their big play to create a permanent authoritarian environment with the ability to crush conservative groups that refused to submit. And no matter how you slice it they didn’t get what they wanted. World war is the natural Plan B.

          It’s important to understand that every crisis created by globalists is meant to destroy the freedom minded. The true target is not Russia or Iran; they are peripheral. These events are designed to create an environment conducive to tyranny, they act as cover for engineered economic collapse, and they act as cover for the REAL war against those people that still defend liberty.

          You could say that WWIII has already started, at least in economic terms. I also highly doubt that the end game for the globalists is a worldwide nuclear exchange; why spend decades building a massive control grid only to vaporize it all in seconds? I do think the danger of kinetic warfare is skyrocketing and that US and European citizens will be directly affected. It will take a sizable resistance movement to change the path we are being forced to follow, and things will get much worse before they get better.

          *  *  *

          If you would like to support the work that Alt-Market does while also receiving content on advanced tactics for defeating the globalist agenda, subscribe to our exclusive newsletter The Wild Bunch Dispatch.  Learn more about it HERE.

          Tyler Durden
          Fri, 04/05/2024 – 23:40

        • Solar Eclipses To Hit Major US Metros Within The Century
          Solar Eclipses To Hit Major US Metros Within The Century

          In case you hadn’t heard, a solar eclipse is happening in the United States on Monday.

          The moon will fully obscure the sun in a band that crosses Mexico, 15 states and a small part of Eastern Canada including Montreal and Toronto. The biggest metro that falls within the area for this solar eclipse is Dallas, where the event will begin at 12.23 p.m. but might be hampered by bad weather forecast for the day. The eclipse area will then move across Arkansas, Missouri, Illinois, Indiana, Ohio, upstate New York and parts of New England. In 2017, a solar eclipse had been visible in a small band between Oregon and South Carolina, passing over Kansas City, St. Louis, Nashville and Charleston.

          According to reports, accommodation across the band has been booked solid for the upcoming Monday as many people are willing to travel to experience the event that for many happens only once in a lifetime. 

          However, as Statista’s Katharina Buchholz reports, within this century, full solar eclipses will pass over more major U.S. metros.

          Infographic: Solar Eclipses to Hit Major U.S. Metros Within the Century | Statista

          You will find more infographics at Statista

          After solar eclipses that will be visible in Northern Alaska in 2033 as well as Montana and North Dakota in 2044, the next major eclipse in the United States is coming up in 2045, hitting the Miami metro and other major Florida cities as well as Northern California, most of Colorado, Oklahoma City and once again, Arkansas.

          In 2078 and 2079, dual eclipses will first hit New Orleans and Atlanta (while missing Houston by several hours) and then New York, Boston and Philadelphia. Chicago will have to wait until 2099 for an eclipse that also hits Minneapolis and Detroit and passes by very close to the nation’s capital, Washington D.C. This makes the current century much more active for solar eclipses in the United States than the past one, which saw most events only skirt the lower 48. Eclipses passed through the Northwest in 1945 and 1979, the Great Lakes in 1925 and 1954, New York in 1925 and New England on three more occasion. In 1970, Northern Florida and the Atlantic Coast of Georgia and the Carolinas experienced another solar eclipse.

          Finally, beyond this century, in 2106, a solar eclipse is passing near Los Angeles, only closely missing Santa Barbara while also passing by Salt Lake City and, once more, Minneapolis. This means that in the next roughly 100 years, the only U.S. metros with more than 5 million inhabitants as of 2023 that will not be in the path of a full solar eclipse or at least close to one will be Phoenix, Ariz.

          Tyler Durden
          Fri, 04/05/2024 – 23:20

        • Extremism On The Ballot
          Extremism On The Ballot

          Authored by Peachy Keenan via AmericanMind.org,

          The 2024 election is between a dangerous madman and Donald Trump…

          I hope everyone enjoyed a wonderful day with family and friends on the holiest day of America’s liturgical year, the Transgender Day of Visibility. I had never heard of this blessed Federal holiday until a few days ago, but my kids loved it. We had a visit from the Easter Drag Bunny and it/they filled the kids’ baskets with all kinds of treats. Puberty blockers, dilators, lipstick for the boys, packers for the girls. She/They is risen—and you will bow down and worship Her/Them!

          Of course, Joe Biden’s Easter sacrilege was only the latest travesty that proves what you and I already know, which is that the 2024 presidential election is a contest between common-sense centrism and dangerously radical extremism. 

          One candidate is a classical liberal whose positions are squarely in the middle of the political spectrum. On nearly every issue, his views are anodyne, conventional, mainstream—positions that were the norm, nationwide, in every state, on both sides of the aisle, within recent memory (not including a few fringe strongholds in Berkeley and the West Village).

          His opponent, however, is a dangerous radical extremist; a divisive, fanatical agent of chaos who holds frightening positions that threaten to destroy America.

          To preserve what’s left of Our Sacred Democracy, the extremist must be stopped.

          Grand Unified Replacement Theory

          The radicals we are up against are so deranged that they are embracing and even leaning into the Replacement Theory they once vilified and dismissed as fake. You will recall that “replacement theory” was a taboo conspiracy only racists and bigots believed in until about 15 minutes ago. But the extremists running the country recently decided that akshally, “replacement” is the perfect strategy to finish off what’s left of what you and the country formerly known as “America.” 

          Replacement means you don’t need to worry about convincing Congress to pass new laws or give speeches or waste time governing. To get your way, just replace everyone.

          But the extremists in charge are not going to stop after replacing you with “newcomers.” They’re replacing everything not nailed down.

          Easter just got replaced with a demonic child abuse cult festival. 

          Jews are getting erased, literally chased out of cities, harassed out of college, and replaced with ululating Hamas enthusiasts. 

          Your grandchildren got replaced with fur babies. 

          Formerly great universities have been replaced with plagiarizing paperclip factories.

          Your borders have been replaced with Welcome Centers.

          Your retirement has been replaced with twenty more years of work to pay for safe injection sites for your kids and free gender affirmation surgeries for the world.

          As Elon Musk likes to point out on X, Americans are just four percent of the Earth’s population. Soon, they’ll be just four percent of their own country.

          This is, in President Biden’s own words, going according to plan. “Just like we drew it up,” he tweeted ominously. 

          The No-Brainer Election

          An explosion in robberies and violent crime. Two dangerous new foreign wars. Forced conversion therapy on normal people to make them believe children can change their sex. Rampant hate crimes and open, gleeful discrimination against people who are not “of color.” 

          Who is the extremist again?

          The dangerous tyrant seeking re-election has the full support of our bloodthirsty elites, a warmongering foreign policy establishment, virulently antisemitic academia, and the entire mainstream media apparatus. Sometimes it’s hard to even fathom what we are facing, but then you remember that they had the nerve to arrest and sentence a young man to prison for… wait for it… sharing a funny Hillary Clinton meme. That actually happened in real life.

          The humble moderate whom these frightening cretins hope to defeat this fall faces expropriation of his property to satisfy hundreds of millions of dollars in absurd fines, plus hundreds of millions of dollars in legal fees to fight regime lawfare on a Hiroshima scale. The threat of prison looms. His support comes not from wealthy celebrities, titans of industry, or the tech billionaires. It comes from the peasants. The rabble. A ragtag coalition of nobodies, the working class, the powerless middle class, and a few anonymous dissidents forced to post samizdat from undisclosed locations to avoid the eye of Sauron. 

          The radical extremist we face wants to empty our treasury so he can continue to launder hundreds of billions of our dollars through the most corrupt nation in Europe, which for decades was the world’s number one producer of child pornography, among other evils. 

          He’s flirting with nuclear war, and even committed an illegal act of war by detonating an enormous oil pipeline that helped heat all of Europe. His military bosses are blackmailing brave American military families: if they don’t cough up the cash for Ukraine, he’ll send their enlisted kids to die in a hole in Siberia. Thanks to him, 13 Marines were blown up in Afghanistan, but if you’re a grieving parent who protests, he has you handcuffed and dragged to prison, as he did to one dad who dared to protest at the State of the Union.

          This extremist lunatic is also doing whatever he can to trigger another Middle East quagmire that inevitably will put boots on the ground in all the old stomping grounds. He wears Catholicism like a skinsuit, blaspheming the rosary around his wrist as he excoriates actual people of faith who want to protect the unborn. He screams for abortion through 40 weeks, for any reason.

          He sends his shock troops to arrest pro-life protestors and slanders parents as “domestic extremists.”

          He’s so extreme he thinks young children can choose to change their genders with irreversible experimental surgeries that have catastrophic rates of failure. He wants parents who don’t allow schools to secretly change a child’s gender behind their backs to lose control of their children and go to prison.

          He’s so radical that he thinks it’s funny when you can’t afford groceries, and wonders why you don’t buy the “other Raisin Bran” in order to save a dollar. He mocks you when he declares “Let them eat more chips,” as he pledges to increase the number of Doritos in each shrinkflated bag. 

          Worst of all, this crazed extremist thinks it’s good to dissolve the nation’s borders, permanently and eternally. He wants to pack the country with the excess population of Central and South America, as well as Africa and Asia, to boost congressional reapportionment numbers and make America blue forever. Any kids that get raped or murdered are not his problem. The tree of extremism must be watered by the blood of America’s daughters like Laken Riley.

          Our only hope, my fellow centrists, is to throw our entire weight behind the common-sense moderate running against Joe Biden. All he wants is to return the country to the way it was within recent memory (!):  a blessed land that enjoyed low illegal immigration, low crime, low prices, low inflation, low mortgage interest rates, and high patriotism and, imagine—optimism.

          Our demands are simple. We want a leader who will make the country a place where normal citizens can go about their lives in peace, enjoy a bit of prosperity, not have to worry about politics constantly, and not get pushed in front of a train waiting for the subway on the way to work. 

          A poll says most of the electorate is “unhappy” with their choice of candidates and wishes it wasn’t a Trump-Biden rematch.

          Get over it and get on board. You don’t have any other option. 

          The Regime’s iron grip on power can only be broken by finally calling them what they are: domestic extremists inflicting acts of terror, violence, and child abuse on innocent citizens. Their hegemony can only be broken by regular, reasonable people in the middle—in other words, you, me, and Donald Trump—exorcising them from power and driving them back into the fetid swamps from whence they came.

          The current Regime represents an existential threat to our lives and liberty. They are no longer a political party; they are a violent hate group, and the group they hate is us.

          Only God himself can show them mercy, and I doubt he will when the time comes.

          Vote for the centrist if you want to live!

          Tyler Durden
          Fri, 04/05/2024 – 23:00

        • AI Demand For Data Centers Is "Absurd" As The Next Trade Unfolds 
          AI Demand For Data Centers Is “Absurd” As The Next Trade Unfolds 

          We presented the trade idea that a surge in artificial intelligence demand is sparking the need for significant upgrades to the nation’s decades-old power grid as new data warehouses come online. Several of the nation’s power grids face increasing power brownout/blackout risks during high-demand periods. This overview we provided premium subscribers was published in a Wednesday note titled “The Next AI Trade.”

          Cloud-computing startup CoreWeave’s co-founder and chief strategy officer, Brian Venturo expands more on this. He spoke on Thursday at the Bloomberg Intelligence Summit on generative AI in New York.

          He said the world is “grossly” underestimating how much AI demand will expand the need for data centers across North America and the world. 

          Venturo said the cloud computing provider has seen an “absurd” amount of data center requests over the last several quarters. He noted that some companies are asking to reserve entire campuses for themselves. 

          “There are going to be some things that this industry is going to have to work through,” Venturo said, adding, “What worries me” is that there’s not enough infrastructure to handle the demand.

          He stressed, “It’s a sprint. It’s a sprint that requires all the capital in the world” to build new data centers and revamp old ones and upgrade the existing infrastructure to supply the electricity needs of data centers. This urgency highlights the need for swift action by smart grid companies and utilities that can rapidly build out the grid for the digital age. 

          “You have to build new transmission lines,” Venturo said, adding, “You have to do new substation builds. There are just a lot of physical blockers here that are hard to overcome in the short-term.”

          Reverting to our “The Next AI Trade” note, we emphasized to premium subs the potential for significant investment opportunities with companies that have high exposure to infrastructure, electrification, power grid, and energy.

          The companies, such as the ones in Goldman’s “Power Up America” basket (Bloomberg ticker GSENEPOW), will be some of the winners over the coming years.

          Tyler Durden
          Fri, 04/05/2024 – 22:40

        • Mike Gallagher, You Left Us Behind
          Mike Gallagher, You Left Us Behind

          Authored by Citizen Soldier via RealClear Politics,

          Mike Gallagher – former Marine intelligence officer, fresh face of 2016, young idealist with enough honors to fill a trophy case – is quitting his congressional seat April 19.

          The high school valedictorian, Princeton undergrad, and Georgetown PhD was elected to the House of Representatives before his thirty-third birthday. His intellect and eloquence made him a leader in the Republican caucus, someone capable of wielding not just votes but ideas to influence policy.

          Former Speaker Kevin McCarthy acknowledged Gallagher’s status among his colleagues in January 2023 when McCarthy picked him to chair the newly formed House Select Committee on the Chinese Communist Party. Gallagher was a fervent advocate for strengthening our China policy, and his ideas and passion drove the agenda of the 24-member committee.

          Back home in Wisconsin’s eighth congressional district, voters resoundingly endorsed Gallagher. He garnered 63 percent of the vote in 2016, 64 percent in 2018 and 2020, and a whopping 72 percent in 2022.

          We’ll never know how far he might have gone; how bright his star might have shone.

          It’s unclear why Gallagher, a generational talent, is abandoning his seat halfway through his term. To spend more time with his family? Or, perhaps more cynically, to work for defense tech giant Palantir? Gallagher hasn’t said, but whatever his answer, he’s lowered the bar – as a veteran and a congressman.

          Gallagher promised to work for Green Bay, Oshkosh, and the country, and the voters believed him. While the media fixates on whether Gallagher “betrayed the party,” the truth is he betrayed the American people. Gallagher happily displayed his service medals on campaign commercials, and proudly wore his USMC polo shirt while meeting the voters. I once attended a meeting where Gallagher sipped hot tea from a green canteen cup – odd but touching, like watching a young lieutenant showing the troops he’s all in.

          Ultimately, though, Gallagher was like many others on the political stage; more actor than genuine article. Just another young, ambitious person playing the role of veteran, for as long as it served his self-interest.

          I wish him well, but wonder if the decision, for him, won’t age well.

          Beneath the T-shirts and slogans, the medals and canteen cups, are the principles Gallagher learned in Quantico, and followed while serving in Iraq. The warrior ethos is ingrained in everyone who wears the uniform. Put the mission first. Never quit. And most importantly, never leave a Marine behind.

          You fooled us, Mike, but did you fool yourself?

          Citizen Soldier believes in life, liberty and the pursuit of Happiness.

          Tyler Durden
          Fri, 04/05/2024 – 22:20

        • Which OECD Countries Allow Donations To Political Parties?
          Which OECD Countries Allow Donations To Political Parties?

          Less than half of OECD countries ban anonymous donations for political financing, according to data published in the Anti-Corruption and Integrity Outlook 2024 released by the OECD.

          The report argues that this leaves these countries “exposed to undue influence.”

          The following chart, from Statista’s Anna Fleck, shows which countries have enforced regulations on the complete ban of financial contributions from anonymous donations, publicly owned enterprises and foreign states and foreign enterprises.

          Infographic: Which OECD Countries Allow Donations to Political Parties? | Statista

          You will find more infographics at Statista

          According to the report, the problem with foreign donations is that they can “unduly influence candidates and political parties and lead to overrepresentation of foreign actors’ interests in public institutions rather than the domestic public interest.”

          For this reason, the OECD recommends the transparency and traceability of funds.

          Meanwhile, donations from publicly owned enterprises or state-owned enterprises can “blur the line between public and private and distort governance framework agreements between state-owned enterprises and the state”, including the “improper diversion of public funds” and risk of the idea that donations are given in exchange for “political allegiance”. Anonymous donations run the risk of the aforementioned donors circumnavigating rules.

          As the chart above shows, bans on contributions to political parties from foreign states or enterprises are common for most OECD countries.

          Only Greece, Australia, Denmark and Sweden do not have this rule. Meanwhile, Switzerland, Ireland, the Netherlands, Australia, Denmark and Sweden stand out for not having a ban on funding from publicly owned enterprises.

          Tyler Durden
          Fri, 04/05/2024 – 22:00

        • Liberals Trying To Force Supreme Court Justice Sonia Sotomayor To Retire
          Liberals Trying To Force Supreme Court Justice Sonia Sotomayor To Retire

          Authored by Matthew Vadum via The Epoch Times (emphasis ours),

          Liberals are mounting a pressure campaign to force liberal Supreme Court Justice Sonia Sotomayor to retire from the bench so President Joe Biden, who faces a tough reelection fight in November, can appoint a younger liberal successor before the election.

          Supreme Court Justice Sonia Sotomayor poses for a photo next to a bronze bust of herself after it was unveiled at the Bronx Terminal Market in New York, on Sept. 8, 2022. (Bebeto Matthews/Pool via REUTERS)

          Democrats fear that the 6–3 conservative majority on the nation’s highest court could become a 7–2 conservative majority if President Donald Trump wins the election in November and she dies during his second term of office.

          They point out that President Trump was able to replace liberal Justice Ruth Bader Ginsburg, who died of pancreatic cancer complications on Sept. 18, 2020, at 87, with conservative Justice Amy Coney Barrett days before the 2020 election.

          Justice Ginsburg refused to step down despite her fragile health.

          Justice Barrett’s appointment, they say, helped supply the votes on the Court needed to overturn abortion rights precedent Roe v. Wade by a 5–4 vote in June 2022.

          The ruling in Dobbs v. Jackson Women’s Health Organization found there was no right to abortion in the U.S. Constitution and returned the regulation of abortion to the states, which Roe had taken away.

          Justice Sotomayor, 69, is reportedly in good health, but activists have seized on the fact that she has had Type I diabetes since she was 7 years old and that she has had some health scares.

          They note that she is the only Supreme Court justice to have traveled with a medic and remarked she was “tired” during a talk in January at UC Berkeley Law School.

          In January 2018, she was reportedly treated at her home for low blood sugar by paramedics but was able to report for work afterward.

          Left-wing activists seem emboldened because they successfully pressured liberal Justice Stephen Breyer, now 85, to retire in June 2022, which allowed President Biden to replace him with liberal Justice Ketanji Brown Jackson, now 53.

          In an April 3 broadcast on NBC News, Sen. Richard Blumenthal (D-Conn.), said Justice Sotomayor should consider stepping down soon.

          “Justices have to make their personal decisions about their health, and their level of energy, but also to keep in mind the larger national and public interest in making sure that the Court looks and thinks like America,” the senator said.

          “We should learn a lesson, you know? And it’s not like there’s any mystery here about what the lesson should be—that the old saying, ‘graveyards are full of indispensable people,’ ourselves in this body included.”

          Before that, left-wing commentator Mehdi Hasan published a column in The Guardian (UK) saying it pained him to argue that Justice Sotomayor should make way for a younger successor who can serve for decades on the Court because she is a good standard bearer for the progressive cause.

          He described Justice Sotomayor as “the greatest liberal to sit on the Supreme Court in my adult lifetime.”

          Mr. Hasan added that she is “the first Latina to hold the position of justice, [and] she has blazed a relentlessly progressive trail on the highest bench in the land.”

          “Whether it was her lone dissent in a North Carolina voting rights case in 2016 (“the Court’s conclusion … is a fiction”); her ingenious referencing of Ta-Nehisi Coates, James Baldwin, and WEB DuBois in another 2016 dissent over unreasonable searches and seizures.

          “Her withering observation at the Dobbs oral argument in 2021: (Will this institution survive the stench that this creates in the public perception that the Constitution and its reading are just political acts?’), Sotomayor has stood head and shoulders above both her liberal and conservative colleagues on the bench for the past 15 years.”

          Although Justice Ginsburg had already survived two cancer diagnoses, she refused to retire even though liberal voices urged her to do so, Mr. Hasan wrote.

          On her deathbed in 2020, she said her “most fervent wish is that I will not be replaced until a new president is installed,” yet President Trump “nominated Amy Coney Barrett as RBG’s replacement just eight days after her death, and Senate Republicans confirmed Barrett to RBG’s vacant seat just eight days before election day.”

          With President Biden now trailing President Trump in polls in several swing states and Democrats “in danger of losing their razor-thin majority in the Senate, are we really prepared for history to repeat itself?”

          Justice Sotomayor could “easily” survive a second Trump term and continue serving until 2029, “but why take that risk? Why not retire now?” he wrote.

          Molly Coleman, executive director of the People’s Parity Project, also wants Justice Sotomayor to resign.

          “This isn’t personal. This isn’t about one individual justice. It’s nothing to do with what an incredible legal talent Justice Sotomayor is. It’s about what’s in the best interests of the country moving forward,” she told NBC News.

          The Biden administration is neutral on the issue so far.

          White House spokesman Andrew Bates said: “President Biden believes that decisions to retire from the Supreme Court should be made by the justices themselves and no one else.”

          The Epoch Times reached out to Justice Sotomayor for comment but had not received a reply as of press time.

          Tyler Durden
          Fri, 04/05/2024 – 21:40

        • These Are The Countries With The Highest Corporate Tax Rates
          These Are The Countries With The Highest Corporate Tax Rates

          In 1980, the global average corporate tax rate stood at 40.2% – a level notably higher than today…

          Over the last several decades, corporate tax rates have declined across every region, with the average now falling at 23.5% as of 2023. As tax rates have sunk lower, U.S. Treasury Secretary Janet Yellen and others have called for a global minimum corporate tax to prevent multinationals from sheltering profits in tax havens.

          But on the other hand, some argue that lower corporate rates allow corporations to report more income and boost real business activities.

          The graphic below, from Pranav Gavali, via Visual Capitalist, shows the countries with the highest corporate tax rates since 1980.

          What are the Top 10 Countries by Corporate Tax Rates?

          Below, we show how countries with the highest corporate taxes have changed over the last four decades, based on data from the Tax Foundation:

          As the above table shows, countries clustered in Africa and South America have the top rates globally.

          Argentina, with a corporate tax rate of 35%, hiked up rates from 25% in 2022 as the country was mired in a deepening economic crisis. The country has also been a key supporter of a global minimum tax, suggesting it should be raised as high as 25%.

          Malta, the only European nation on the list, also has one of the highest rates. Yet its tax system is complex: local businesses pay a 35% rate on profits, but international firms can pay as low as 5% in Malta with an additional 10% tax paid in their originating country.

          By contrast, we can see that in 1980, countries including India, China and the United Kingdom had corporate tax rates above 50%. Since then, China underwent a series of economic reforms that included key tax reductions that helped drive the growth of its private sector.

          In the United Kingdom, tax rates were 52% four decades ago and now fall at 25%. The U.S. tells a similar story, with corporate rates standing at 46% in 1980—more than double the rates seen today. Major corporate tax cuts were seen during Reagan’s presidency during the 1980s, when rates were cut to 35%, and later in 2017 when they were further reduced to 21% under the Tax Cuts and Jobs Act.

          Tyler Durden
          Fri, 04/05/2024 – 21:20

        • Nebraska State Senator Switching From Democrat To Republican Over Abortion
          Nebraska State Senator Switching From Democrat To Republican Over Abortion

          Authored by Tom Ozimek via The Epoch Times (emphasis ours),

          Nebraska state Sen. Mike McDonnell has announced that he’s switching party affiliation from Democrat to Republican, citing his Christian faith and views on abortion.

          Ballots for the primary elections are arranged by party affiliation at the Lancaster County Election Committee offices in Lincoln, Neb., on April 14, 2020. (Nati Harnik/AP Photo)

          Mr. McDonnell made the announcement in an April 3 statement to local media outlets, citing the Democratic Party’s opposition to his pro-life stance.

          “When I ran for reelection in 2020, I was pro-life,” he said, adding that he’s Catholic and recalling that in 2016, he ran as a pro-life candidate for Nebraska’s fifth legislative district.

          “I have asked the Democratic Party to respect my religious-based pro-life position. Instead, over the last year, they have decided to punish me for being pro-life.”

          Mr. McDonnell said that, because he opposes abortion, Douglas County Democrats voted not to seat him as a delegate and not share party resources, while the state Democratic Party voted to censure him for his pro-life views.

          “Being a Christian member of the Roman Catholic Church and pro-life is more important to me than being a registered Democrat,” he said, adding that he was switching to the GOP effective immediately.

          The Nebraska Democratic Party issued a statement in response to Mr. McDonnell’s party change, expressing “respect” for his work with the party while denying that the censure vote had anything to do with his pro-life views.

          “The Nebraska Democratic Party will continue to stand up for reproductive freedom and the human rights of the LGBTQ community,” Nebraska Democratic Party Chair Jane Kleeb said in the statement.

          “Our decision to censure Sen. McDonnell was never about him being a pro-life Catholic. Our decision was based on our party reaffirming our core values to protect women’s ability to make health decisions and to keep politicians out of our personal health decisions.”

          Ms. Kleeb said that she and her Nebraska Democrat colleagues “respect the ongoing work of Senator McDonnell on behalf of unions and his commitment to protect a fair electoral vote system” in the state.

          Mr. McDonnell’s party affiliation switch could signal that Nebraska may be headed for a major change as Republican leaders have expressed support for a move to a winner-take-all system for allocating the state’s Electoral College votes.

          Change to Winner-Take-All?

          Nebraska Gov. Jim Pillen, a Republican, showed a willingness on April 2 to back legislation that would potentially prevent President Joe Biden from getting one of the state’s electoral votes. He did this by endorsing a statewide “winner-takes-all” system that is likely to boost former President Donald Trump.

          Unlike every other U.S. state, only Nebraska and Maine assign Electoral College votes by district. A congressional district that centers around Omaha, the largest city in the state, has sometimes gone in favor of Democratic presidential candidates, including in 2020.

          However, if the state switched to a more standard system, Nebraska’s three electoral votes would likely all go to President Trump as the former president easily won the GOP-dominated state by wide margins in both 2016 and 2020.

          In January, legislators introduced a bill to use the standard, winner-take-all system. In a social media post on April 2, Mr. Pillen endorsed the initiative.

          “It would bring Nebraska into line with 48 of our fellow states, better reflect the founders’ intent, and ensure our state speaks with one unified voice in presidential elections,” Mr. Pillen wrote on X, formerly known as Twitter. “I call upon fellow Republicans in the Legislature to pass this bill to my desk so I can sign it into law.”

          His comment was backed by President Trump on social media, describing the governor’s endorsement of the measure as “very smart.”

          “Governor Jim Pillen of Nebraska, a very smart and popular Governor, who has done some really great things, came out today with a very strong letter in support of returning Nebraska’s Electoral Votes to a Winner-Take-All System,” President Trump wrote on Tuesday.

          “Most Nebraskans have wanted to go back to this system for a very long time, because it’s what 48 other States do—It’s what the Founders intended, and it’s right for Nebraska,” he continued. “Thank you Governor for your bold leadership. Let’s hope the Senate does the right thing. Nebraskans, respectfully ask your Senators to support this Great Bill!”

          In 2020, President Joe Biden won Nebraska’s Omaha-based congressional district, giving him one electoral vote.  President Trump carried the state with nearly 60 percent of the vote.

          Some analysts have said on social media that if the Nebraska bill is signed into law, it would pose a problem for President Biden because he wouldn’t have a clear path to 270 votes to win the presidency.

          Jack Phillips and Reuters contributed to this report.

          Tyler Durden
          Fri, 04/05/2024 – 21:00

        • Lab-Grown Meat Isn't For Everyone
          Lab-Grown Meat Isn’t For Everyone

          Would you eat laboratory-grown meat?

          This question, as Statista’s Anna Fleck reports was posed recently to respondents of their Consumer Insights survey, seems to divide opinions.

          Laboratory-grown meat, also known as cultivated or cultured meat, is produced from animal cells, often taken by biopsy. These are then placed in a “nutrient bath” in order to develop meat outside the animal. In theory, cultured meat could offer an option to those concerned about animal welfare, or the meat industry’s impact on our planet, as its production requires neither the breeding nor the slaughter of living animals.

          However, as Fleck shows in the infographic below, the idea of eating laboratory-grown meat is still not that convincing to a majority of people.

          Infographic: Lab-Grown Meat Isn’t for Everyone | Statista

          You will find more infographics at Statista

          While one in five people surveyed in India said they would be willing to try this new type of food, only 9 percent of respondents in France said the same.

          In the United States, which is one of only two countries where this meat is currently marketed (alongside Singapore), 16 percent of respondents said they were open to the idea of eating it.

          It is unlikely though that cellular meat will soon find its way onto European plates, as no authorization application has yet been filed for the bloc’s market.

          Tyler Durden
          Fri, 04/05/2024 – 20:40

        • Judge Dismisses DeSantis From Lawsuit Over Illegal Immigrant Flights To Martha’s Vineyard
          Judge Dismisses DeSantis From Lawsuit Over Illegal Immigrant Flights To Martha’s Vineyard

          Authored by Aldgra Fredly via The Epoch Times (emphasis ours),

          A federal judge on Monday dismissed Florida Gov. Ron DeSantis from a lawsuit filed by illegal immigrants who were transported to Martha’s Vineyard, Massachusetts, on chartered flights in 2022.

          Florida Gov. Ron DeSantis speaks to supporters after finding out the 2024 Iowa caucuses results at the Sheraton Hotel in West Des Moines, Iowa, on Jan. 15, 2024. (Madalina Vasiliu/The Epoch Times)

          In a 77-page ruling, U.S. District Judge Allison D. Burroughs said that there were “insufficient facts” presented in the lawsuit to exercise jurisdiction over Mr. DeSantis and other staff members.

          “On the present record, the court cannot ascertain what actions were undertaken by whom and therefore cannot determine which, if any, of the individual defendants transacted business or caused injury here, leaving it no choice but to find that, at least on this record, personal jurisdiction has not been established,” the judge stated.

          However, Judge Burroughs stated that the illegal immigrants could still proceed with their suit against Vertol, the Florida-based company that was paid $1.5 million to transport illegal immigrants to the island.

          The court found that the facts of the case “taken together, support an inference that Vertol and the other Defendants specifically targeted Plaintiffs because they were Latinx immigrants.”

          Judge Burroughs also said that Vertol and the other defendants “were not legitimately enforcing any immigration laws” when transporting the illegal immigrants.

          “Instead, as alleged, they exploited [Plaintiffs] in a scheme to boost the national profile of Defendant DeSantis and manipulate them for political ends. Moreover, Plaintiffs’ images were captured and sent to national news media,” the judge said.

          “Unlike ICE [Immigration and Customs Enforcement] agents legitimately enforcing the country’s immigration laws … the Court sees no legitimate purpose for rounding up highly vulnerable individuals on false pretenses and publicly injecting them into a divisive national debate,” she added.

          The judge stated that “treating vulnerable individuals like Plaintiffs in this way, as alleged and accepted as true for purposes of the motion to dismiss … is nothing short of extreme, outrageous, uncivilized, intolerable, and stunning.”

          Lawyers for Civil Rights (LCR) in Boston filed a federal civil rights class action lawsuit in 2022 against Mr. DeSantis, Secretary of Florida Department of Transportation Secretary Jared Perdue, the State of Florida, and their “accomplices, challenging the fraudulent and discriminatory scheme to transport nearly 50 vulnerable immigrants, including women and children, from San Antonio, Texas to Martha’s Vineyard without shelter or resources in place.”

          The lawsuit was filed on behalf of a class of affected illegal immigrants, including those stranded in Martha’s Vineyard, and Alianza Americas, a network of organizations supporting illegal immigrants across the United States, according to a statement.

          The illegal immigrants, many of whom were Venezuelans, were allegedly told if they were willing to board planes to other states, they would receive social services.

          Lawsuit Will Continue

          LCR has hailed the ruling as “a major victory” for the affected illegal immigrants.

          It said that the ruling “sends a crucial message: private companies can—and will—be held accountable for helping rogue state actors violate the rights of vulnerable immigrants through illegal and fraudulent schemes.”

          “All other defendants have been dismissed, but only for now. The dismissal is ‘without prejudice,’ meaning that the claims may be reasserted and reinstated,” the organization said in a statement.

          “To be clear: the Martha’s Vineyard migrants will not stop here,” it added.

          LCR said that they would continue to pursue their claims in federal court against all defendants, “including by seeking jurisdictional discovery to prove the viability of the claims against the dismissed parties.”

          Darlene McCormick Sanchez and the Associated Press contributed to this report.

          Tyler Durden
          Fri, 04/05/2024 – 20:20

        • Beer Beats Wine In Regular Consumption
          Beer Beats Wine In Regular Consumption

          Alcohol has long been portrayed as a “social lubricant”, an effect possibly explained by the alcohol myopia theory. It suggests that intoxication can result in “hyperfocus directed to emotional situations when they are sufficiently relevant to grab attention, or a reduced attentional focus to emotional events in the presence of a relevant demanding task”, according to a 2010 paper on the topic by a group of researchers from Spain and Brazil.

          On the other hand, alcohol is a drug that negatively affects psychological and physical health. As the World Health Organization postulated in a news briefing from January 2023 “alcohol is a toxic, psychoactive, and dependence-producing substance and has been classified as a Group 1 carcinogen by the International Agency for Research on Cancer decades ago – this is the highest risk group, which also includes asbestos, radiation and tobacco.”

          However, as Statista’s Florian Zandt notes, the ambivalent picture of alcohol consumption doesn’t stop many people from drinking regularly.

          The chart based on Statista’s Consumer Insights shows that beer is the most frequently consumed alcoholic beverage in almost every market surveyed.

          Infographic: Beer Beats Wine in Regular Consumption | Statista

          You will find more infographics at Statista

          Only in Switzerland, South Africa and Sweden is wine more popular than lagers, pilsners, ales and other types of beer, with between 26 and 42 percent of respondents regularly consuming the beverage created from fermented grapes.

          In Latin American and Southern European countries like Mexico, Spain or Italy, beer is the more popular choice, being consumed regularly by between 45 and 53 percent of respondents.

          Regarding the overall beverage consumed regularly by the highest share of survey participants, coffee comes out on top in 15 of the 20 countries analyzed, reaching respondent shares of 80 percent in Brazil or 78 percent in Poland.

          In China (51 percent), the United States (61 percent) and Italy (75 percent), bottled water ranks highest, while 69 percent of Indians surveyed regularly drink tea and 72 percent of respondents in South Africa consume juice on a regular basis.

          Tyler Durden
          Fri, 04/05/2024 – 20:00

        • Japan To Embark On An Era Of "Mass Foreign Immigration"
          Japan To Embark On An Era Of “Mass Foreign Immigration”

          Authored by Paul Joseph Watson via Modernity.news,

          Japan appears to be transitioning from a homogenous society to embrace ‘diversity and inclusivity’ by ushering in “an era of mass foreign immigration.”

          It’s set to be a massive change for a country that was still up until recently 97.5% ethnic Japanese, according to the CIA World Factbook.

          A Bloomberg report details how rapidly declining native birth rates, an aging society and a chronic labor shortage is fueling the importation of millions of foreigners who “are changing the face of Japan.”

          The number of foreign workers in Japan has now exceeded 2 million, a 12.4% increase on 2022. The East Asian country needs at least 647,000 working-age immigrants per year to meet its 11 million worker shortage by 2040.

          “Japan is entering an era of mass foreign immigration,” said Junji Ikeda, president of Saikaikyo, a Hiroshima-based agency that sources and supervises foreign workers. “Incremental adjustments will not suffice,” he added.

          Under one program alone, 820,000 migrants will be admitted to work in the transportation and logistics sectors, a doubling of the previously agreed number, in order “to make efforts to realize an inclusive society,” according to Chief Cabinet Secretary Yoshimasa Hayashi.

          While the process is being implemented under ‘skilled worker visas’, the actual roles migrants will fill include taxi drivers, bus drivers and factory workers.

          https://platform.twitter.com/widgets.js

          The service industry will also be increasingly filled with foreign migrants, who will subsequently be allowed to bring their families to stay in Japan indefinitely.

          The Economist reports that a “glimpse at Japan’s future” looks like convenience stores being staffed overwhelmingly by migrants, highlighting “the importance of immigration.”

          The news outlet cites one such 7-Eleven store in central Tokyo where “all the staff are Burmese.”

          https://platform.twitter.com/widgets.js

          “Gearoid Reidy in an article for the Japan Times estimates that the number of overseas workers has more than doubled in the last decade, while the broader foreign community, which includes children and students, has risen by 50 per cent,” reports the Spectator.

          “Reidy envisages a time when more than 10 per cent of Japan’s population will be foreign born, putting the famously homogenous, exclusive, nation on a par with the UK, U.S and France.”

          https://platform.twitter.com/widgets.js

          Good luck with that.

          At the end of last year, the government announced that crime had risen for the first time in 20 years, a situation native Japanese people might become more familiar with in the coming years.

          A BBC News report about Japan’s previous refusal to adopt mass migration highlighted how the country was “stuck in the past,” with that past being characterized as “a peaceful, prosperous country with the longest life expectancy in the world, the lowest murder rate, little political conflict.”

          https://platform.twitter.com/widgets.js

          Apparently, affordable property prices, “refusing immigration and maintaining the patriarchy,” and the fact that “Japan still feels like Japan, and not a reproduction of America,” is being “stuck in the past.”

          However, while importing large numbers of workers, Japan does still seem to be keen to limit foreign nationals claiming to be asylum seekers.

          A new system starting in June will give the government the power to deport foreigners who have had their asylum claims rejected multiple times.

          *  *  *

          Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

          Tyler Durden
          Fri, 04/05/2024 – 19:40

        • "This Is Mind-Blowing Bad": Officials Investigate Brazen $30M Easter Heist In LA
          “This Is Mind-Blowing Bad”: Officials Investigate Brazen $30M Easter Heist In LA

          Authorities in San Fernando Valley, California are investigating a $30 million cash heist at a money storage facility on Easter Sunday.

          “This is mind-blowingly bad,” said one Garda employee, KTLA5 reports. “You would never suspect it, $30 million in the Valley — gone.”

          The March 31st heist is among the largest in LA history.

          According to the LA Times, the thieves entered the building through the roof, tripping no alarms – and there was no obvious sign of break-in on the vault itelf. Officials weren’t even aware of the heist until the safe was opened Monday.

          The thieves also cut a hole in the side off the building, which was later covered with plywood and has now been repaired, KTLA5 reports.

          Hole in the side of the GardaWorld facility on Roxford Street in Sylmar (screenshot via KTLA5)

          Both the LAPD and FBI have yet to comment on how the crew got away unnoticed.

          One law enforcement official with the Los Angeles County Sheriff’s Department’s Major Crimes Bureau who is not on this case told KTLA that money storage facilities like GardaWorld in Sylmar have multiple layers of security and other fortified systems, including alarms and motion sensors. -KTLA

          So duh, clearly an inside job.

          According to retired FBI Special-Agent-in-Charge of the LA field office Robert Clark, investigators “will try to determine who had access to the facility, who was aware of the schedule and knew that the money would be in the facility and [for] how long, the security around the facility and how much time they would be able to have to gain access and be able to move such a large amount of money.”

          Clark thinks there’s a good chance the crew well get caught.

          “I think the likelihood is very high because you don’t move that kind of money very quickly,” he said. “It’s not like you’re grabbing a couple of checks and running out the door. To be able to liquidate [it] would be very difficult. You’ll have to have a team of individuals that do it.“

          Tyler Durden
          Fri, 04/05/2024 – 19:20

        • Behind EV Push, A Wealth Transfer From Red To Blue Regions
          Behind EV Push, A Wealth Transfer From Red To Blue Regions

          Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

          President Joe Biden’s new EV mandates will likely prove to be a sizable wealth transfer from rural red regions of America to urban blue sections, and to wealthy Democrats who reside in them, according to reports.

          On March 20, the Environmental Protection Agency (EPA) finalized its tailpipe emissions rules for the auto industry starting in 2027.

          (Illustration by The Epoch Times, Getty Images, Shutterstock)

          These rules are the strictest in history and will effectively force carmakers to have one-third of new car sales be plug-in electric vehicles (EVs) by 2027 and more than two-thirds by 2032.

          This represents a dramatic increase from current EV sales, which were about 8 percent of the new car market in 2023.

          Climate activists cheered the EPA’s move, with the Environmental Defense Fund calling it “a day to celebrate American achievement.”

          But critics say that the measures will be particularly punitive for huge segments of the U.S. population who don’t want, can’t use, or can’t afford EVs. If carmakers go along with President Biden’s plan to shift their fleets to EVs, the cost of remaining gas-fired cars and trucks will likely escalate as demand dwarfs supply.

          “This isn’t industrial policy,” Robert Bryce, author and energy analyst, told The Epoch Times. “In reality it’s a type of class warfare that will prevent low- and middle-income consumers from being able to afford new cars.”

          And as many traditional car buyers struggle, the federal subsidies and incentives continue to flow, to the benefit of EV buyers.

          According to an October 2023 report by the Texas Public Policy Foundation, as much as $48,000 of the cost of the average EV sold in the United States is paid, not by the owner, but in the form of “socialized costs” that are spread out among taxpayers and electricity consumers over a 10-year period.

          These socialized costs come in the form of taxes, government subsidies, fuel economy credits paid by gas carmakers to EV manufacturers, and higher electricity bills as consumers absorb the capital costs required to expand the power grid and install new charging stations.

          The report states that “the average model year 2021 EV would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners.”

          These dollars, which do not take into account the additional dollars that gas-car owners will likely pay for their vehicles as manufacturers are forced to make fewer of them, amount to a government-mandated wealth transfer to affluent EV owners, paid by those who often cannot afford to buy EVs.

          The new EPA mandate is “aimed at accommodating a very narrow segment of the auto-buying public: wealthy, white Democrats who live in a handful of liberal communities,” Mr. Bryce said. “EV ownership is largely defined by class, ideology, and geography.”

          Attendees examine Tesla electric cars during an expo in Washington on July 23, 2023. (Photo by Nathan Howard/Getty Images)

          In a February analysis of EV buyers, Mr. Bryce reported that 57 percent of them earn more than $100,000 annually, 75 percent are male, and 87 percent are white. In addition, EV buyers are overwhelmingly Democrats, with 71 percent of Republicans stating in a Gallup poll that they would not consider owning an electric vehicle.

          A 2023 University of California Energy Institute report found “a strong and enduring correlation between political ideology and U.S. EV adoption.”

          Looking at county-level data on new vehicle registrations between 2012 and 2022, the report stated that 50 percent of all new EVs were sold into the top 10 percent of most-Democrat counties, with 70 percent going to the top 25 percent most-Democrat counties, and 90 percent going to the top 50 percent most-Democrat counties.

          Twenty counties bought 40 percent of all EVs sold in this period, the report states, and “most of these counties are urban, high-income, and in Democratic states.”

          One-third of EV Buyers Live in California

          Data from the Department of Energy supports this view. As of year-end 2022, California had 903,600 registered EVs in the state, or 37 percent of all EVs owned nationwide.

          The next largest number of EV owners were in Florida, Texas, and Washington state, with 168,000, 149,000, and 104,100 EVs respectively, followed by New Jersey, New York, Georgia, Colorado, Illinois, Massachusetts, Virginia, Maryland, and Pennsylvania.

          The states on this list are home to large cities and suburbs, which are the target market for EVs. This contrasts sharply with rural states like Wyoming and North Dakota, where 800 and 600 EV owners reside, respectively.

          According to a report by the Committee to Unleash Prosperity, “if you count all the EVs in North Dakota, South Dakota, Wyoming, Mississippi, West Virginia, Alabama, Montana, and Idaho, they account for less than one percent of the total U.S. sales.”

          A Rivian truck recharges at a charging station during a snowstorm in Truckee, Calif., on March 3, 2024. (Mario Tama/Getty Images)

          Of the top 10 states in terms of EV per capita ownership, seven are “deep blue states,” the report notes.

          “By contrast, the 10 states with the smallest market penetration for EVs were all red states,” Unleash Prosperity states.

          “Ironically, Joe Biden is the worst thing that ever happened to this industry. EVs have become ‘Biden cars.’”

          The Biden administration is not alone in attempting to force Americans to switch to electric cars. A number of blue states including California, Maryland, Massachusetts, New York, Oregon, Vermont, Washington are on track to ban the sale of new gas-powered cars and trucks by 2035, according to non profit group Coltura, which advocates for the switch from gasoline to electric cars.

          The lack of interest in EVs among red states isn’t merely a political issue, however. There are practical reasons why people are unwilling to spend thousands of dollars more on electric cars. According to a November 2023 AAA survey, the primary reasons for people not to buy electric cars are a lack of charging stations, limited range, and time to charge the battery.

          A recent Rasmussen poll found that 65 percent of Americans surveyed don’t think they’re likely to make an EV their next automobile purchase.

          Read more here…

          Tyler Durden
          Fri, 04/05/2024 – 19:00

        • US Intelligence Is 'Convinced' Major Iranian Response Against Israel Imminent
          US Intelligence Is ‘Convinced’ Major Iranian Response Against Israel Imminent

          US intelligence is ‘convinced’ that Iran is readying a retaliation response against Israel for the Monday attack on the Iranian embassy complex in Syria, US officials have told CBS News, and that an attack could be imminent.

          The officials say that the US “has picked up intelligence that Iran is planning a retaliatory attack that would include a swarm of Shaheed loitering drones and cruise missiles. Officials say the timing and target are unknown, but a proportional response to the Damascus attack would be to hit an Israeli diplomatic facility.”

          As for possible timing they believe it will come between now and the end of Ramadan next week. Israel has already issued firm warnings that any direct attack from Iranian soil will be met with a “stronger” response, taking the conflict to the next level.

          AFP

          CBS reports further that “A public funeral was held in Tehran on Friday for the seven IRGC members killed in the suspected Israeli strike in Damascus, including two generals.”

          One hawkish analyst from the Middle East Institute, Jason Brodsky, has noted on Friday:

          There are reports Iran’s regime may be eyeing hitting an Israel diplomatic compound in a third country via drones & missiles. Israel maintains embassies in Bahrain; UAE; Jordan; Egypt; Azerbaijan; & Turkey. I would keep an eye on Jordan.

          This is a scenario that Iranian and regional leaders might deem ‘proportionate’. The idea of a sovereign state intentionally attacking another country’s embassy or consulate was pretty much unheard of prior to Israel’s Monday attack.

          Israel, however, has tried claim to the international community – which by and large condemned attacking embassies – that what was actually destroyed was a military building used by the Islamic Revolutionary Guard Corps (IRGC).

          A handful of publications and pundits have pointed out that the Israeli attack, which killed eleven and took out a top IRGC Quds general, is in fact a declaration of war. 

          For example, Hamidreza Azizi of the German Institute for International and Security Affairs, immediately sought to underscore that the strikes which flattened a consulate next to the main embassy building “is viewed by some in Iran as a declaration of war by Israel against Iran.” 

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          He wrote further that “It represents a shift from previous engagements, directly hitting Iranian soil represented by its consulate in Syria—as opposed to targeting IRGC officers in Syrian sites.”

          Currently, Israel is bracing for an inevitable response, and is reportedly calling up extra reserve forces. Hezbollah could also open up a bigger war front:

          The leader of Lebanon’s Hezbollah movement said on Friday that Iran would inevitably retaliate after a strike — widely blamed on Israel — destroyed its consulate in Damascus this week, killing two generals.
          “Be certain that Iran’s response to the targeting of its Damascus consulate is inevitable,” Hassan Nasrallah said in a televised speech marking Quds (Jerusalem) Day — an annual day of pro-Palestinian rallies held by Iran and its allies.

          At least so far, the daily tit-for-tat fighting along Israel’s northern border has remained contained, but perhaps just barely. Israeli leaders have warned that all of Lebanon could be bombed back to the ‘stone age’ if Hezbollah starts a full war.

          Tyler Durden
          Fri, 04/05/2024 – 18:40

        • Supreme Court Faces 'High Stakes' Decisions On Trump-Related Cases
          Supreme Court Faces ‘High Stakes’ Decisions On Trump-Related Cases

          Authored by Sam Dorman via The Epoch Times (emphasis ours),

          President Joe Biden issued a rare primetime threat to the Supreme Court during his State of the Union address on March 7, warning the justices that they could cause political backlash for their 2022 decision to overturn Roe v. Wade.

          “With all due respect, justices, women are not without electoral or political power,” President Biden said.

          (Illustration by The Epoch Times, Getty Images)

          In doing so, the president amplified that mounting pressure on the Supreme Court, a pressure that seems to build each week as the election nears and the queue of cases related to former President Donald Trump gets longer.

          The justices are taking up two major appeals related to President Trump, who is the presumptive GOP nominee and is leading President Biden in polling matchups, including in crucial battleground states.

          President Trump’s former advisors are also facing multiple charges, raising the prospect that some may request the high court’s intervention, as former White House advisor Peter Navarro did on March 15. The court’s denial made Mr. Navarro the first Trump White House adviser to end up in prison.

          “This is certainly a blockbuster year for the court,” Heritage Foundation Vice President John Malcolm told The Epoch Times.

          “Several of the justices, most notably the Chief Justice, have been concerned about the public’s perception of the court’s ‘legitimacy,’ so it will be interesting to see how the justices respond, especially in an important election year.”

          ‘High Stakes’

          The combination of several Trump-related cases, the potential for landmark changes to legal precedent, the vigorous calls for reform, and the coming elections have made 2024 a year of high impact decisions for the court.

          One decision has already impacted the course of the 2024 presidential campaign.

          In March, the justices rejected an effort that could have resulted in millions of President Trump’s supporters not having their preferred candidate on the ballot. During oral argument, Justice Amy Coney Barrett referenced the “very high stakes” surrounding the case, which has been described as the court’s most influential election-related matter since Bush v. Gore.

          Its landmark opinion in Trump v. Anderson foreclosed the possibility that states like Colorado could, under their existing authority, remove federal candidates from ballots.

          The Supreme Court in Washington on March 22, 2024. (Madalina Vasiliu/The Epoch Times)

          The majority opinion, however, has been criticized for lacking clarity around how Congress should act. The decision emphasized the role of Congress in enforcing the 14th Amendment, while the three liberal justices and Justice Barrett favored a more limited approach that overruled state authority over federal candidates for office.

          President Trump’s immunity appeal, scheduled for oral argument on April 25, could impact his Florida documents case and hush money trial, wherein he has requested a delay pending the Supreme Court’s decision on his D.C. immunity claims.

          The stinging criticism that followed the court’s unanimous opinion in Trump v. Anderson indicates no matter how united the justices are, they will continue to face heavy scrutiny—especially when it comes to President Trump.

          President Trump’s appeal, like Mr. Navarro’s, questions the separation of powers as well as the authority of the legislative and judiciary branches in challenging the executive.

          In Trump v. Anderson, the court avoided wading into the specifics of President Trump’s alleged wrongdoing on Jan. 6 and will likely try to do the same with his immunity appeal. But their decisions in two other cases might impact the indictment in President Trump’s federal election case.

          A challenge brought by Jan. 6 defendants against the DOJ’s use of an Enron-era obstruction charge in prosecutions will be heard before the high court on April 16.

          In the federal election case, two of those charges were brought against President Trump. If the court rules in the defendants’ favor, as some legal experts predict, that could lessen the burden for President Trump in D.C. while also provoking scrutiny of the justices’ approach to Jan. 6.

          The court’s decision in the presidential immunity appeal could similarly either upend or affirm the prosecution—likely sparking backlash from either side depending on the outcome.

          Beyond Trump

          Besides President Trump’s cases, the court is considering several major cases in administrative law—including potentially overturning the decades-old Chevron doctrine that gives deference to agencies in construing vague language in statutes. A reversal would significantly roll back the power of the administrative state.

          Former President Donald Trump talks to the press outside the courtroom at the New York State Supreme Court in New York City on Oct. 2, 2023. (Ed Jones/AFP via Getty Images)

          In February, it considered whether the Justice Department legally restricted bump stocks. The case, Garland v. Cargill, was the second of three major gun-related cases announced for the term. Two—Cargill and Rahimi v. United States—could alter who owns guns and how they operate them. The third, NRA v. Vullo, could make it easier or more difficult for governments to pressure organizations like those promoting gun rights.

          The justices also heard arguments over the constitutionality of two sweeping social media laws from Texas and Florida that, combined with similar cases this term, could dramatically change the landscape of online expression.

          In striking those laws, the justices could prevent future state legislation aimed at how social media platforms moderate users’ content and the transparency they provide for censoring certain posts. If laws succeed, social media platforms could see a patchwork of rules for moderating users’ content across the United States and enjoy less discretion in how they do so.

          “These are cases that touch upon separation of powers and important constitutional rights, in addition to involving ‘hot button’ issues that will have a major impact on the law now and in the future,” Mr. Malcolm told The Epoch Times.

          Court’s Image

          With such contentious issues before the court, it seems inevitable that the justices’ decisions will upset large swaths of the American public. The justices could also be weighing how the way they phrase rulings will impact public opinion during such a high-stakes year.

          University of Michigan Law Professor Barbara McQuade previously told The Epoch Times she imagined that with Trump v. Anderson, Justice Roberts felt pressure to “maintain the credibility of the Court as an independent and apolitical institution.”

          She said “a 9–0 decision would provide the country with far more confidence than would a 6–3 decision.”

          Justice Barrett emphasized the importance of unanimity and language while appearing to offer a glimpse into the justices’ concerns. Her concurring opinion in Trump v. Anderson seemed to criticize her colleagues for lacking restraint in their opinion. She had joined the liberal justices in favoring a more limited approach but didn’t sign onto their concurrence, which had some strong words for the majority.

          “In my judgment, this is not the time to amplify disagreement with stridency,” she wrote. “The Court has settled a politically charged issue in the volatile season of a Presidential election. Particularly in this circumstance, writings on the Court should turn the national temperature down, not up. For present purposes, our differences are far less important than our unanimity: All nine Justices agree on the outcome of this case. That is the message Americans should take home.”

          Read more here…

          Tyler Durden
          Fri, 04/05/2024 – 18:20

        • Canoo CEO's Private Jet Expenses Were Double The Company's Revenue For 2023
          Canoo CEO’s Private Jet Expenses Were Double The Company’s Revenue For 2023

          As we’ve been writing over the last year, saturation and competitive pricing are starting to prompt chaos and disorder in the EV space.

          EV startup Canoo is the latest to face scrutiny, after it was revealed that CEO Tony Aquila’s private jet expenses totaled $1.7 million, twice the company’s revenue for 2023.

          Despite reporting a loss of $302 million last year, Canoo paid for Aquila’s lavish travel, which included either first-class airfare or use of his private jet. Aquila, who also chairs the company, owns about 14% of Canoo. In 2022, Canoo spent $1.3 million on his air travel, according to a new report from Electrek. 

          The company, which has yet to turn a profit, generated just $886,000 in revenue in 2023.

          Canoo is focused on scaling up production of its commercial vehicles and avoiding the fate of other struggling EV startups. While it faces challenges, such as the recent need for a 1-for-23 reverse stock split to prevent delisting, Canoo received a boost with a contract from the United States Postal Service for six delivery vans.

          But, amidst a sea of competition and first movers like Tesla, BYD and legacy automakers, companies like Canoo and the near-bankrupt Fisker are struggling. Ergo, the company CEO’s spending on private jets raises concerns about how the company manages its finances, particularly given its recent stock drop of up to 38% after reporting losses.

          Reuters was first to report the massive cost/revenue divergence.

          Canoo responded with a statement: “Had Reuters called Canoo for comment we would have told them that we raised $324 million in 2022, and $288 million in 2023 and we are currently in discussions with several entities and individuals about investing in the company this year.”

          “We would have also told them that we have begun manufacturing, expect to step up our manufacturing effort this year, and have a backlog of orders. And, that we are not in the consumer market, we are in the commercial market,” the company added. 

          We wrote late last year that all of the Tesla-wannabe EV companies were running out of cash. 

          The report noted that at least 18 EV and battery startups, including high-profile names like Nikola and Fisker, face the risk of depleting their cash reserves by the end of 2024. These companies, once known for their ambitious goals to revolutionize the industry with electric trucks and SUVs, have struggled with increasing costs and manufacturing challenges.

          Names like Lordstown Motors, Proterra, and Electric Last Mile Solutions have already declared bankruptcy, the report notes. Romeo Power, a battery manufacturer, and Volta, a charging company, were sold for much less than their initial public valuations. The remaining firms are reportedly focusing on cost reduction and have secured additional funding.

          Gavin Baker, chief investment officer at Atreides Management, told WSJ: “It was by far the most insane bubble I have ever seen.”

          Tyler Durden
          Fri, 04/05/2024 – 18:00

        • Behind Election Rhetoric, Democrats Utilize Little Known Strategy To Win 2024
          Behind Election Rhetoric, Democrats Utilize Little Known Strategy To Win 2024

          Authored by Kevin Stocklin via The Epoch Times (emphasis ours),

          The upcoming election will likely be less about changing voters’ minds and more about rousing the faithful and getting them to the polls.

          (Illustration by The Epoch Times, Shutterstock, Stock Photo)

          America’s students, who according to an analysis by Tufts University helped elect Biden in key swing states in 2020, could prove to be pivotal in this regard, both as targets and as foot soldiers in the party’s get-out-the-vote drives.

          Meanwhile, a lawsuit currently moving through Wisconsin courts appears to provide a case study for how these campaigns translate into election wins for the Democratic Party.

          In February, Vice President Kamala Harris highlighted that the government is paying college students to register voters.

          “We have been doing work to promote voter participation for students. And, for example we … now allow students to get paid through Federal Work Study to register people and to be nonpartisan poll workers,” she said.

          Ms. Harris said the Biden administration has been able “to charge federal agencies with doing the work that they rightly can do to inform the American people of their right to vote.”

          Paying students to canvass is the latest component of an initiative originated under former President Barack Obama to increase student voting. Initially this was carried out in conjunction with private nonprofit organizations such as Civic Nation.

          Founded with the support of President Obama, his wife, and Joe Biden in 2015, and led by former Obama staffers, Civic Nation now boasts a partnership with 1,700 colleges and universities and a reported budget of more than $16 million in 2020.

          Its stated goal is “fighting for gender equity, social justice, and more,” and it leads the “All In Campus Democracy Challenge” that engages with university administrators to get them to sign up student voters.

          All In runs school get-out-the-vote competitions in all 50 states. According to its website, it has partnered with 994 institutions and signed up more than 10 million students. As part of the “challenge,” schools agree to share student voting data.

          Civic Nation receives much of its funding from a network of progressive charitable funds managed by Arabella Advisors, which oversees a network of nonprofit vehicles that finance left-wing political campaigns.

          Under the Biden administration, however, the student get-out-the-vote campaign is now being run with federal funds, spearheaded by the U.S. Department of Education.

          Fayetteville State University student NAACP chapter president Ty Hamer (R) leads a call as students walk to vote in Fayetteville, N.C., on March 3, 2020. (Melissa Sue Gerrits/Getty Images)

          Executive Order Backed by Federal Funds

          President Biden’s Executive Order 14019 compels all government agencies to take part in a nationwide effort to register voters and includes a program by the Department of Education (DOE) that pressures educational institutions to demonstrate that they have signed up students to vote.

          Following the issuance of EO14019, the DOE sent schools a “Dear Colleague Letter” to “remind institutions of higher education of the federal requirements regarding voting that are tied to participation in federal student aid programs.”

          The letter, according to the DOE, also clarifies when Federal Work Study dollars can be used “for nonpartisan civic engagement work.”

          According to a 2022 report by Tufts University’s Center for Information and Research on Civic Learning and Engagement (CIRCLE), “youth ages 18–29 are the only age group in which a strong majority supported Democrats.”

          Up until 2002, the youth vote was evenly split between the two parties, the report stated, but since that time young people have shifted sharply in favor Democrats by what is now a 28-point margin. The get-out-the-vote campaigns do not target all young voters equally, however. Instead, they focus their efforts on the most reliable Democrat voters—those who attend college.

          Students walk past a polling site at the University of Pittsburgh during the midterm election, in Pittsburgh, Pa., on Nov. 8, 2022. (Angela Weiss/AFP via Getty Images)

          A 2020 survey by Pew Research found that the single largest voter gap in favor of Democrats was white college-educated women, of whom 62 percent voted Democrat versus 34 percent who voted Republican. Conversely, non-college white men favored the Republican Party by a margin of 32 points, with 62 percent for Republicans and 30 percent for Democrats.

          “Democrats increasingly dominate in party identification among white college graduates,” the report states. “Republicans increasingly dominate in party affiliation among white non-college voters.”

          Students Vote Like Their Teachers

          A 2020 report by the National Association of Scholars found that Democrat-registered professors outnumbered Republican-registered professors by a ratio of 10-to-1, a gap that has widened from 4.5-to-1 in 1999.

          “Research since World War II has consistently found overwhelmingly left-oriented political attitudes and ideological self-identification among college and university faculty,” the Association states. “It has also found overwhelming support for the Democratic Party.”

          The other factor that makes the college vote so attractive to Democrats is the location of college students in key swing states, where a few thousand votes can deliver a win in a tight election. For this reason it may not be coincidental that the youth turnout rate has been much higher in swing states than non-swing states.

          The CIRCLE report found that among the highest states for youth voter turnout were Michigan, Minnesota, Pennsylvania, Arizona, Colorado, Maine, Nevada, and Georgia. In Michigan and Pennsylvania, for example, 36.5 percent and 31.7 percent of residents under the age of 29 voted in 2022.

          This contrasts sharply with neighboring non swing states such as West Virginia (14.2 percent), Delaware (18.7 percent), New Jersey (20.6 percent), Ohio (21.6 percent), Connecticut (21.4 percent), New York (20.7 percent), and Massachusetts (18.5 percent). Oregon, a reliable blue state, bucked this trend with 35.5 percent youth turnout.

          Read more here…

          Tyler Durden
          Fri, 04/05/2024 – 17:40

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