• Escobar: Xi Of Arabia & The PetroYuan Drive
  Escobar: Xi Of Arabia & The PetroYuan Drive

  Authored by Pepe Escobar via The Cradle,

  Xi Jinping has made an offer difficult for the Arabian Peninsula to ignore: China will be guaranteed buyers of your oil and gas, just pay us in yuan…

  

  It would be so tempting to qualify Chinese President Xi Jinping landing in Riyadh a week ago, welcomed with royal pomp and circumstance, as Xi of Arabia proclaiming the dawn of the petroyuan era.

  But it’s more complicated than that. As much as the seismic shift implied by the petroyuan move applies, Chinese diplomacy is way too sophisticated to engage in direct confrontation, especially with a wounded, ferocious Empire. So there’s way more going here than meets the (Eurasian) eye.

  Xi of Arabia’s announcement was a prodigy of finesse: it was packaged as the internationalization of the yuan. From now on, Xi said, China will use the yuan for oil trade, through the Shanghai Petroleum and National Gas Exchange, and invited the Persian Gulf monarchies to get on board. Nearly 80 percent of trade in the global oil market continues to be priced in US dollars.

  Ostensibly, Xi of Arabia, and his large Chinese delegation of officials and business leaders, met with the leaders of the Gulf Cooperation Council (GCC) to promote increased trade. Beijing promised to “import crude oil in a consistent manner and in large quantities from the GCC.” And the same goes for natural gas.

  China has been the largest importer of crude on the planet for five years now – half of it from the Arabian peninsula, and more than a quarter from Saudi Arabia. So it’s no wonder that the prelude for Xi of Arabia’s lavish welcome in Riyadh was a special op-ed expanding the trading scope, and praising increased strategic/commercial partnerships across the GCC, complete with “5G communications, new energy, space and digital economy.”

  Foreign Minister Wang Yi doubled down on the “strategic choice” of China and wider Arabia. Over $30 billion in trade deals were duly signed – quite a few significantly connected to China’s ambitious Belt and Road Initiative (BRI) projects.

  And that brings us to the two key connections established by Xi of Arabia: the BRI and the Shanghai Cooperation Organization (SCO).

  The Silk Roads of Arabia

  BRI will get a serious boost by Beijing in 2023, with the return of the Belt and Road Forum. The first two bi-annual forums took place in 2017 and 2019. Nothing happened in 2021 because of China’s strict zero-Covid policy, now abandoned for all practical purposes.

  The year 2023 is pregnant with meaning as BRI was first launched 10 years ago by Xi, first in Central Asia (Astana) and then Southeast Asia (Jakarta).

  BRI not only embodies a complex, multi-track trans-Eurasian trade/connectivity drive but it is the overarching Chinese foreign policy concept at least until the mid-21st century. So the 2023 forum is expected to bring to the forefront a series of new and redesigned projects adapted to a post-Covid and debt-distressed world, and most of all to the loaded Atlanticism vs. Eurasianism geopolitical and geoeconomic sphere.

  Also significantly, Xi of Arabia in December followed Xi of Samarkand in September – his first post-Covid overseas trip, for the SCO summit in which Iran officially joined as a full member. China and Iran in 2021 clinched a 25-year strategic partnership deal worth a potential $400 billion in investments. That’s the other node of China’s two-pronged West Asia strategy.

  The nine permanent SCO members now represent 40 percent of the world’s population. One of their key decisions in Samarkand was to increase bilateral trade, and overall trade, in their own currencies.

  And that further connects us to what has happening in Bishkek, Kyrgyzstan, in full synchronicity with Riyadh: the meeting of the Supreme Eurasia Economic Council, the policy implementation arm of the Eurasia Economic Union (EAEU).

  Russian President Vladimir Putin, in Kyrgyzstan, could not have been more straightforward: “The work has accelerated in the transition to national currencies in mutual settlements… The process of creating a common payment infrastructure and integrating national systems for the transmission of financial information has begun.”

  The next Supreme Eurasian Economic Council will take place in Russia in May 2023, ahead of the Belt and Road Forum. Take them together and we have the lineaments of the geoeconomic road map ahead: the drive towards the petroyuan proceeding in parallel to the drive towards a “common paying infrastructure” and most of all, a new alternative currency bypassing the US dollar.

  That’s exactly what the head of the EAEU’s macroeconomic policy, Sergey Glazyev, has been designing, side by side with Chinese specialists.

  Total Financial War

  The move towards the petroyuan will be fraught with immense peril.

  In every serious geoeconomic gaming scenario, it’s a given that an enfeebled petrodollar translates as the end of the imperial free lunch in effect for over five decades.

  Concisely, in 1971, then-US President Richard “Tricky Dick” Nixon pulled the US from the gold standard; three years later, after the 1973 oil shock, Washington approached the Saudi oil minister, notorious Sheikh Yamani, with the proverbial offer-you-can’t-refuse: we buy your oil in US dollars and in return you buy our Treasury bonds, lots of weapons, and recycle whatever’s left in our banks.

  Cue to Washington now suddenly able to dispense helicopter money – backed by nothing – ad infinitum, and the US dollar as the ultimate hegemonic weapon, complete with an array of sanctions over 30 nations who dare to disobey the unilaterally imposed “rules-based international order.”

  Impulsively rocking this imperial boat is anathema. So Beijing and the GCC will adopt the petroyuan slowly but surely, and certainly with zero fanfare. The heart of the matter, once again, is their mutual exposure to the Western financial casino.

  In the Chinese case, what to do, for instance, with those whopping $1 trillion in US Treasury bonds. In the Saudi case, it’s hard to think about “strategic autonomy” – such as what’s enjoyed by Iran – when the petrodollar is a staple of the Western financial system. The menu of possible imperial reactions includes everything from a soft coup/ regime change to Shock and Awe over Riyadh – followed by regime change.

  Yet what the Chinese – and the Russians – are aiming at goes way beyond a Saudi (and Emirati) predicament. Beijing and Moscow have clearly identified how everything – the oil market, global commodities markets – is tied to the role of the US dollar as reserve currency.

  And that’s exactly what the EAEU discussions; the SCO discussions; from now on the BRICS+ discussions; and Beijing’s two-pronged strategy across West Asia are focused to undermine.

  Beijing and Moscow, within the BRICS framework, and further on within the SCO and the EAEU, have been closely coordinating their strategy since the first sanctions on Russia post-Maidan 2014, and the de facto trade war against China unleashed in 2018.

  Now, after the February 2022 Special Military Operation launched by Moscow in Ukraine and NATO has devolved into, for all practical purposes, war against Russia, we have stepped beyond Hybrid War territory and are deep into Total Financial War.

  SWIFTly drifting away

  The whole Global South absorbed the “lesson” of the collective (institutional) west freezing, as in stealing, the foreign reserves of a G20 member, on top of it a nuclear superpower. If that happened to Russia, it could happen to anyone. There are no “rules” anymore.

  Russia since 2014 has been improving its SPFS payment system, in parallel with China’s CIPS, both bypassing the western-led SWIFT banking messaging system, and increasingly used by Central Banks across Central Asia, Iran and India. All across Eurasia, more people are ditching Visa and Mastercard and using UnionPay and/or Mir cards, not to mention Alipay and WeChat Pay, both extremely popular across Southeast Asia.

  Of course the petrodollar – and the US dollar, still representing under 60 percent of global foreign exchange reserves – will not ride into oblivion overnight. Xi of Arabia is just the latest chapter in a seismic shift now driven by a select group in the Global South, and not by the former “hyperpower.”

  Trading in their own currencies and a new, global alternative currency is right at the top of the priorities of that long list of nations – from South America to Northern Africa and West Asia – eager to join BRICS+ or the SCO, and in quite a few cases, both.

  The stakes could not be higher. And it’s all about subjugation or exercising full sovereignty. So let’s leave the last essential words to the foremost diplomat of our troubled times, Russia’s Sergey Lavrov, at the international interparty conference Eurasian Choice as a Basis for Strengthening Sovereignty:

  “The main reason for today’s growing tensions is the stubborn striving of the collective West to maintain a historically diminishing domination in the international arena by any means it can… It is impossible to impede the strengthening of the independent centers of economic growth, financial might and political influence. They are emerging on our common continent of Eurasia, in Latin America, the Middle East and Africa.”

  All aboard…the Sovereign Train.

  Tyler Durden
  Fri, 12/16/2022 – 23:40

• These Are The Richest Billionaires In Each Country
  These Are The Richest Billionaires In Each Country

  While there are nearly 8 billion people in the world, just over 3,000 are billionaires as of November 2022. As Visual Capitalist’s Carmen Ang notes, this tiny group of people is worth nearly $11.8 trillion – Equivalent to about 11.8% of global GDP.

  Where do these billionaires live? This graphic by Truman Du uses data from Forbes to map out the richest billionaires around the world.

  

  The Full List

  As it turns out, billionaires are a lot more geographically concentrated than you might think.

  In fact, of the 195 officially recognized countries around the world, only 76 are home to billionaires. And even within these countries, there’s vast disparities between the quantity of billionaires.

  Here’s a breakdown of all the countries that have at least one billionaire. For countries with more than one, we’ve highlighted the billionaire with the highest net worth as of November 28, 2022:

  Country/territory	Name	Net worth ($B)	Main source of wealth (sector)
  🇩🇿 Algeria	Issad Rebrab	5.1	food
  🇦🇷 Argentina	Marcos Galperin	4.0	e-commerce
  🇦🇲 Armenia	Ruben Vardanyan	1.3	investment banking
  🇦🇺 Australia	Gina Rinehart	27.9	mining
  🇦🇹 Austria	Georg Stumpf	7.9	real estate, construction
  🇧🇩 Bangladesh	Muhammed Aziz Khan	1.0	power
  🇧🇧 Barbados	Rihanna	1.4	music, cosmetics
  🇧🇪 Belgium	Eric Wittouck	9.0	investments
  🇧🇿 Belize	Kenneth Dart	4.0	investments
  🇧🇷 Brazil	Jorge Paulo Lemann	15.6	beer
  🇧🇬 Bulgaria	Georgi & Kiril Domuschiev	1.9	animal health, investments
  🇨🇦 Canada	David Thomson	53.2	media
  🇨🇱 Chile	Iris Fontbona	19.6	mining
  🇨🇳 China	Zhong Shanshan	66.7	beverages, pharmaceuticals
  🇨🇴 Colombia	Luis Carlos Sarmiento	6.3	banking
  🇨🇾 Cyprus	John Fredriksen	11.4	shipping
  🇨🇿 Czechia	Renata Kellnerova	16.0	finance, telecommunications
  🇩🇰 Denmark	Anders Holch Povlsen	11.9	fashion retail
  🇪🇬 Egypt	Nassef Sawiris	7.2	construction, investments
  🇪🇪 Estonia	Kristo Kaarmann	1.4	payments, banking
  🇫🇮 Finland	Antti Herlin	3.9	elevators, escalators
  🇫🇷 France	Bernard Arnault	179.5	LVMH
  🇬🇪 Georgia	Bidzina Ivanishvili	4.8	investments
  🇩🇪 Germany	Beate Heister & Karl Albrecht Jr.	35.1	supermarkets
  🇬🇷 Greece	Vicky Safra	7.1	banking
  🇬🇬 Guernsey	Stephen Lansdown	2.3	financial services
  🇭🇰 Hong Kong	Li Ka-shing	33.0	diversified
  🇭🇺 Hungary	Sandor Csanyi	1.1	finance, real estate
  🇮🇸 Iceland	Thor Bjorgolfsson	2.5	investments
  🇮🇳 India	Gautam Adani	133.6	infrastructure, commodities
  🇮🇩 Indonesia	R. Budi Hartono	23.4	banking, tobacco
  🇮🇪 Ireland	John Collison & Patrick Collison	8,1	payments software
  🇮🇱 Israel	Eyal Ofer	14.4	real estate, shipping
  🇮🇹 Italy	Giovanni Ferrero	34.4	Nutella, chocolates
  🇯🇵 Japan	Tadashi Yanai	29.2	fashion retail
  🇰🇿 Kazakhstan	Vladimir Kim	5.0	mining
  🇱🇧 Lebanon	Taha Mikati	2.8	telecom
  🇱🇮 Liechtenstein	Christoph Zeller	2.2	dental materials
  🇲🇴 Macau	Hoi Kin Hong	1.2	real estate
  🇲🇾 Malaysia	Quek Leng Chan	10.2	banking, property
  🇲🇽 Mexico	Carlos Slim Helu	86.2	telecom
  🇲🇨 Monaco	Stefano Pessina	9.3	drugstores
  🇲🇦 Morocco	Aziz Akhannouch	1.8	petroleum
  🇳🇵 Nepal	Binod Chaudhary	1.5	diversified
  🇳🇱 Netherlands	Charlene de Carvalho-Heineken	15.0	Heineken
  🇳🇿 New Zealand	Graeme Hart	10.1	investments
  🇳🇬 Nigeria	Aliko Dangote	12.9	cement, sugar
  🇳🇴 Norway	Andreas Halvorsen	6.6	hedge funds
  🇴🇲 Oman	Suhail Bahwan	2.0	diversified
  🇵🇪 Peru	Carlos Rodriguez-Pastor	4.3	finance
  🇵🇭 Philippines	Manuel Villar	7.0	real estate
  🇵🇱 Poland	Michal Solowow	6.0	investments
  🇵🇹 Portugal	Maria Fernanda Amorim	4.5	energy, investments
  🇶🇦 Qatar	Faisal Bin Qassim Al Thani	1.9	hotels
  🇷🇴 Romania	Ion Stoica & Matei Zaharia	1.6	data analytics
  🇷🇺 Russia	Andrey Melnichenko	27.0	coal, fertilizers
  🇸🇬 Singapore	Li Xiting	16.6	medical devices
  🇸🇰 Slovakia	Ivan Chrenko	1.6	real estate
  🇿🇦 South Africa	Johann Rupert	9.0	luxury goods
  🇰🇷 South Korea	Jay Y. Lee	7.9	samsung
  🇪🇸 Spain	Amancio Ortega	62.5	Zara
  🇰🇳 St. Kitts and Nevis	Myron Wentz	1.3	health products
  🇸🇿 Swaziland (Eswatini)	Nathan Kirsh	5.4	retail, real estate
  🇸🇪 Sweden	Stefan Persson	15.3	H&M
  🇨🇭Switzerland	Guillaume Pousaz	23.0	fintech
  🇹🇼 Taiwan	Zhang Congyuan	6.7	shoes
  🇹🇿 Tanzania	Mohammed Dewji	1.5	diversified
  🇹🇭 Thailand	Sarath Ratanavadi	12.2	energy
  🇹🇷 Turkey	Ibrahim Erdemoglu	6.5	carpet
  🇺🇦 Ukraine	Rinat Akhmetov	4.3	steel, coal
  🇦🇪 United Arab Emirates	Pavel Durov	15.1	messaging app
  🇬🇧 United Kingdom	Michael Platt	15.2	hedge funds
  🇺🇸 United States	Elon Musk	191.2	Tesla, SpaceX
  🇻🇪 Venezuela	Juan Carlos Escotet	3.2	banking
  🇻🇳 Vietnam	Pham Nhat Vuong	4.7	diversified
  🇿🇼 Zimbabwe	Strive Masiyiwa	1.2	telecom

  The United States is well known to have one of the highest concentrations of billionaires. It’s home to over 900, with Elon Musk the wealthiest of them all with a staggering net worth of over $191 billion in November 2022. That makes him not just the richest billionaire in America, but the richest person in the world.

  China has the second highest concentration of billionaires, with 400 ultra-wealthy that have a combined net worth of $1.45 trillion. China’s richest billionaire, Zhong Shanshan, is the founder of the Nongfu Spring beverage company.

  Interestingly, there are no clear patterns when it comes to the type of industry or sector that these billionaires are involved in. The exception is the U.S., where a significant number of billionaires are linked to the tech industry.

  And it’s important to note that some heads of states are reportedly billionaires, and in many cases might be the wealthiest people in their respective countries. But their wealth is often a state secret, well-diversified, and too difficult to accurately estimate.

  Male vs. Female Billionaires

  One trend that does stand out is the number of men versus women who are billionaires. Of the 76 billionaires on the list, only 7 are women.

  This pattern is also evident when looking at the entire billionaire population—of the 3,311 billionaires worldwide, only 12.9% are women.

  It’s worth mentioning that this population of billionaire women is rising. According to Forbes, the 2021 list included 328 women, 36% more than in 2020.

  Tyler Durden
  Fri, 12/16/2022 – 23:20

• Setting The Record Straight On Ivermectin
  Setting The Record Straight On Ivermectin

  Authored by David Henderson and Charles Hooper via The Brownstone Institute,

  The COVID-19 pandemic brought us a panoply of lies and evidence-light declarations that were less intended to inform Americans than to consolidate power and buy time. Among these were Anthony Fauci’s famous shift from arguing against wearing masks, to recommending wearing one, and, finally, to wearing two. 

  Fauci also tried to convince us that the SARS-CoV-2 virus was not manipulated in a lab even though his inner circle had emailed him about “unusual features” of the virus that looked “potentially engineered.”  And, of course, we had “fifteen days to stop the spread,” an evergreen concept that dragged on for two years. Lest readers fault us for forgetting, there was also the “gain of function” controversy, the focused protection battle, school closures, lockdowns, vaccine mandates, and vaccine misrepresentations. 

  These topics have received much public attention. The one pandemic topic that hasn’t, and is nonetheless important, is the maligned ivermectin. It’s time to set the record straight.

  

  If you’ve followed the news closely over the last two years, you’ve probably heard a few things about ivermectin.

  • First, that it’s a veterinary medicine intended for horses and cows.

  • Second, that the FDA and other government regulatory agencies recommended against its use for COVID-19.

  • Third, that even the inventor and manufacturer of ivermectin, Merck & Co., came out against it.

  • Fourth, that one of the largest studies showing that ivermectin worked for COVID-19 was retracted for data fraud.

  • And, finally, that the largest and best study of ivermectin, the TOGETHER trial, showed that ivermectin didn’t work.

  Let’s consider the evidence.

  Ivermectin has a distinguished history, and it may have benefits comparable to those of penicillin. The anti-parasitic’s discovery led to a Nobel Prize and subsequent billions of safe administrations around the world, even among children and pregnant women. “Ivermectin is widely available worldwide, inexpensive, and one of the safest drugs in modern medicine.”

  The FDA put out a special warning against using ivermectin for COVID-19. The FDA’s warning, which included language such as, “serious harm,” “hospitalized,” “dangerous,” “very dangerous,” “seizures,” “coma and even death,” and “highly toxic,” might suggest that the FDA was warning against pills laced with poison, not a drug the FDA had already approved as safe. Why did it become dangerous when used for COVID-19? The FDA didn’t say.

  Because of the FDA’s rules, if it were to make any statement on ivermectin, it was obliged to attack it. The FDA prohibits the promotion of drugs for unapproved uses. Since fighting SARS-CoV-2 was an unapproved use of ivermectin, the FDA couldn’t have advocated use without obvious hypocrisy. Ivermectin’s discoverer, Merck & Co., had multiple reasons to disparage its own drug. 

  Merck, too, couldn’t have legally “promoted” ivermectin for COVID-19 without a full FDA approval, something that would have taken years and many millions of dollars. Plus, Merck doesn’t make much money from cheap, generic ivermectin but was hoping to find success with its new, expensive drug, Lagevrio (molnupiravir).

  A large study of ivermectin for COVID-19 by Elgazzar et al. was withdrawn over charges of plagiarism and faked data. Many media reports seem fixated on this one dubious study, but it was one of many clinical studies. After the withdrawn studies have been removed from consideration, there are 15 trials that suggest that ivermectin doesn’t work for COVID-19 and 78 that do. 

  The TOGETHER trial received significant positive press. The New York Times quoted two experts who had seen the results. One stated, “There’s really no sign of any benefit [from ivermectin],” while the other said, “At some point it will become a waste of resources to continue studying an unpromising approach.” 

  While the Elgazzar paper was quickly dismissed, the TOGETHER trial was acclaimed. It shouldn’t have been. Researchers who have analyzed it have found 31 critical problems (impossible data; extreme conflicts of interest; blinding failure), 22 serious problems (results were delayed six months; conflicting data), and 21 major problems (multiple, conflicting randomization protocols) with it. 

  While the popular narrative is that the TOGETHER trial showed that ivermectin didn’t work for COVID-19, the actual results belie that conclusion: ivermectin was associated with a 12 percent lower risk of death, a 23 percent lower risk of mechanical ventilation, a 17 percent lower risk of hospitalization, and a 10 percent lower risk of extended ER observation or hospitalization. We have calculated that the probability that ivermectin helped the patients in the TOGETHER trial ranged from 26 percent for the median number of days to clinical recovery to 91 percent for preventing hospitalization. The TOGETHER trial’s results should be reported accurately.

  Based on the clinical evidence from the 93 trials that ivermectin reduced mortality by an average of 51 percent, and on the estimated infection fatality rate of COVID-19,  about 400 infected Americans aged 60-69 would need to be treated with ivermectin to statistically prevent one death in that group. The total cost of the ivermectin to prevent that one death: $40,000.

  (Based on the GoodRx website, a generic prescription for ivermectin is priced at approximately $40. Roughly 2.5 prescriptions would be needed per person to receive the average dose of 150 mg per patient.) 

  How much is your life worth? We’re betting it’s worth far more than $40,000.

  When the next pandemic strikes, by necessity we’ll rely on older drugs because newer ones require years of development. Ivermectin is a repurposed drug that helps, and could have helped so much more. It deserves recognition, not disparagement. What we really need, however, is a way to inoculate ourselves against the lies and misrepresentations of powerful public figures, organizations, and drug companies. Sadly, there are no such vaccines for that contagion.

  Tyler Durden
  Fri, 12/16/2022 – 23:00

• Where Real Wages Are Falling Most Sharply
  Where Real Wages Are Falling Most Sharply

  Wages are rising, but they are not keeping up with inflation.

  

  Statista’s Martin Armstrong notes that while pay negotiations may have resulted in wage increases in several sectors this year, overall increases will remain below the rise in consumer prices in many countries, as confirmed by data released by the OECD in its macroeconomic report.

  The war in Ukraine has significantly increased prices, particularly for energy, adding to central bank largesse-inspired inflationary pressures at a time when the cost of living was already rising rapidly around the world. As a result, global financial conditions have tightened substantially this year and the outlook for labor markets remains uncertain. In most OECD countries, average wage growth has been slower than inflation, reducing household purchasing power despite government measures to mitigate the impact of soaring food and energy prices.

  As Statista’s infographic shows, Switzerland is for the time being one of the few economies analyzed that seems to have been spared.

  

  You will find more infographics at Statista

  In the United States, the average decline in real wages for the entire population – across all sectors and income levels – was just over 2 percent year-on-year in the third quarter of 2022.

  In Europe, Germany and Spain saw even more pronounced declines in purchasing power, with real incomes falling by just over 4 percent and 5 percent, respectively, nationwide.

  Several factors explain the differences between countries, such as differences in exposure to inflation, but also in social protection measures.

  Tyler Durden
  Fri, 12/16/2022 – 22:40

• Leftists Aren't Capable Of Surviving Economic Collapse – Here's Why
  Leftists Aren’t Capable Of Surviving Economic Collapse – Here’s Why

  Authored by Brandon Smith via Alt-Market.us,

  There is one factor that constantly stands out as absolutely essential to a person’s chances at surviving a crisis event, and that factor is mindset. Experience and training are highly valuable, having proper tools and preps on hand is a huge advantage. But in the end, without mental toughness and the ability to adapt the most prepared person in the world will still likely bite the dust.

  

  Mental toughness is something that can be taught, to a point. This is the entire purpose of basic training methods used in the military: To take mundane details and elevate them in the minds of trainees while wearing them down with physical punishment. The goal is to condition the mind to ignore distraction, to ignore fear and pain while focusing on the task at hand. Failure is not an option in war, just as it is not an option in survival. Those who embrace distraction and embrace failure because they think it will make things easier for them are filtered out of the recruitment pool, or the gene pool.

  It is no coincidence that the US military today is dealing with some of the worst recruitment conditions they have ever seen in terms of people being physically and mentally incapable of finishing basic training. The Pentagon currently estimates that 77% of young Americans are unfit for recruitment without a waiver for obesity, drug use and mental health problems. Meaning, Gen Z is so unfit physically and mentally if there was a major war almost 80% of them would be erased from existence.

  The problem has become so bad that militaries in the US and throughout the west are being forced to lower standards just to meet minimum personnel goals. One can argue that many young people don’t want to join the military anyway, but this is besides the point. Even if they wanted to, they would not be up to the task.

  There are a number of reasons for this development, but I would suggest that the spread of leftist ideology among 63% of Americans age 18-29 according to polls has created a survival vacuum – A generation of mental weaklings.

  It’s important to remember that younger people have adopted more liberal views for decades, but the political left is not liberal today. The leftists of today are full-bore Marxists, both economically and culturally. They support establishment centralization, they support economic centralization, they support corporate centralization, they support authoritarianism and censorship, they support moral relativism and they applaud the concept of an all pervasive welfare state.

  In 1980 you might have been able to find a large number of mentally tough people that considered themselves Democrats. Today, you will not find anyone.

  With America hovering in a precarious netherworld between stagflationary crisis and deflationary crisis depending on which poison the Federal Reserve chooses to give the country, the stage has been set for an economic disaster similar to the Great Depression or worse (read my analysis on this situation HERE). In two years or less, our system, which is already dealing with a number of threats including high prices and supply chain instability, will not remain functional in the manner most people are accustomed.

  If we accept this inevitability, we must then ask a logical question: Who is going to rebuild? Whoever inherits the mantle will either bring America back to freedom and prosperity, or plunge our society into perpetual tyranny. It all depends on who survives the crisis.

  One thing that gives me some hope is the fact that leftists as a sub-group of our population are completely incapable of surviving a major economic crisis event. This is not to say that I wish them all to die; I’m only pointing out the reality that most of them won’t make it because they are ill equipped to handle a calamity. Here are the reasons why a post-collapse world would probably be devoid of common leftists…

  Leftists Thrive On Crisis, But Die Out During Collapse

  Leftists have a tendency to exploit crisis and tragedy to shore up power and expand their numbers through fear, but there’s a problem with this tactic. If the crisis is fabricated, a tempest in a teapot, then they do very well; if the crisis turns into an actual disaster with real world consequences including financial decline, supply chain disruptions, shortages and civil unrest, they have no tools to deal with the effects other than mob action and looting.

  What happens if they use mob action and looting when the rule of law is no longer a factor in a country with millions of guns? They will die, by the tens of thousands, as people defend their businesses and homes. The violent hordes we witnessed during the BLM riots would not last long during a collapse scenario where people are more inclined to use deadly force.

  Leftists Are Anti-Preparedness

  The political left has spent the better part of the past 15 years demonizing the concept of preparedness as a tinfoil hat philosophy for “right-wing extremists.” They have set themselves up for complete failure by refusing to acknowledge the practicality of prepping, just so they can attack their political opponents. The stupidity of it is truly mind boggling.

  There are some indications that the covid lockdowns may have shocked a small number of them out of their foolishness. It’s hard to deny the threat of economic collapse when the beginnings of collapse are right in front of your face. That said, prepping is not the only requirement for survival, and progressives buying a few months of food and some guns is not going to save them.

  Leftists Have An Aversion To Hardship

  The vast majority of people that argue in favor of an expanding welfare state are on the left. While conservatives support individual charity for those that deserve it, leftists believe that people need to be forced by government to provide and pay for others who may not deserve it. This ideal is driven by their desire to avoid hardship.

  I find that leftists often have delusions of grandeur. They assume that they are destined for great things, that they are smarter than the rest of us and that work or sacrifice are problems relegated to the rural “peasants” in “flyover country.” Their vision of work is a daycare, a college campus, a place to socialize, find comfort and self identity, do the minimal amount of labor required and then collect a paycheck. Just look how leftist dominated Twitter was being operated a few months ago – It was not a workplace, it was a day spa for lunatics.

  These kinds of people are not equipped to endure the backbreaking struggle necessary to build a survivable environment. They wouldn’t know where to begin. When confronted with hard times, leftists do not ask “How can I fix this problem and improve my situation?” Instead they ask “Who is to blame for my misery and how can I make them pay?”

  Leftists Have No Practical Skill Sets

  The avoidance of technical skill sets is a real problem for progressives. There are a handful of people on the left that engage in micro-farming and other basic skills as a form of activism, but they are few and their methods are limited by their ideology. As noted above, leftists believe themselves to be too valuable to be wasted on production. Rather, they see themselves as “management,” the people in charge of the people that do the manual labor.

  A person could get by on that kind of thinking in a first-world environment where office jobs, tech jobs, government jobs and social work is the norm, but in a collapse environment there are no management positions, there are no office workers, there are no elementary school teachers, there are no trust and safety advisors, there are no platform moderators and there are no bureaucrats. You either have a valued knowledge set that can be traded, or you have nothing. You can either produce necessities for yourself, or you can’t.

  The development of the information age and the data driven economy of first world nations has made matters even worse by convincing people that data is a currency. This is a concept that leftists in particular adore because they think labor will become a thing of the past; they will only need their brain and a laptop to provide everything they need. It’s a delusion. The “Metaverse” is a facade, a con, and there will always be a need for humans to dig in the dirt, to forage and hunt, to farm and to build with their own hands. As the economy derails further, progressives are going to realize this too late.

  Leftists Rely On Government To Fix Their Problems

  If the idea of taking matters into your own hands is abhorrent to you, then you might be a leftist. Leftists view individual action during a crisis as almost criminal; it is important to them that the correct authorities with the correct permissions handle any dangerous situation. Leftists love to defer to the “experts” because this takes the responsibility out of their hands, along with the blame should something go wrong.

  But what happens when government is not functional enough to save the day? What happens when inflation or supply chains or personnel shortages make it impossible for government officials to help. What happens when government officials don’t want to help? What happens when they are corrupt and they want to see you suffer?

  Leftists rarely consider such possibilities. For them, the idea that government could break down, that the grid could break down and that the rule of law could break down is a conspiracy theory. It has only happened hundreds of times around the world in modern history, but because they have never experienced the threat personally they think it is impossible. These are the kinds of people that die very quickly during collapse.

  Leftists Value Feelings Over Reason

  The root foundation of leftist ideology is that everything is relative according to one’s personal feelings. That is to say, they believe that their feelings shape their reality, and that “their truth” is the only truth that matters. There are some subjective truths that are near-universal which is why moral conscience is a thing that exists in every culture in the world. That said, personal ideals are still subject to the forces of nature.

  You cannot pretend that you are not starving when you are starving. You cannot pretend that you are not dehydrated when you desperately thirsty. You cannot feel your way out of a crisis, the crisis is not subject to your fantasies, the crisis will step on your throat and teach you otherwise.

  At bottom, their feelings do not matter. They are irrelevant. And this is a lesson leftists will learn as the system continues to degrade. They can cry and scream and wail and make all the demands they want for fairness and equity and welfare but in the end they will face the clarity of self reliance or they will face the Ferryman.

  It’s not my purpose here to revel in the erasure of the political left. I am only pointing out that modern leftist ideology is a product of extremely safe and controlled environments where people have the privilege to engage in frivolity. They THINK they want deconstruction. They THINK they want chaos as a means to break the system and rebuild it in their image. What they don’t realize is that if they get what they want most of them will die in the process and they will not be around to see their naive Utopia come to fruition.

  *  *  *

  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, 12/16/2022 – 22:20

• Central Asia's 'Water Wars' Are Heating Up
  Central Asia’s ‘Water Wars’ Are Heating Up

  Authored by The Jamestown Foundation via OilPrice.com,

  • Access to water has been a point of conflict in Central Asia for years.

  • Environmental changes have raised temperatures in Central Asia faster than the global average.

  • While the upstream Kyrgyzstanis and Tajikistanis have plenty of water, Uzbekistan wholly relies on a steady supply of water for its food security.

  On November 3, Uzbekistani Foreign Minister Vladimir Norov and his Kyrgyzstani counterpart Jeenbek Kulubaev signed a bilateral deal in Bishkek, under which Kyrgyzstan agreed to cede to Tashkent the territory surrounding the Kempir-Abad Reservoir, covering 4,485 hectares, in exchange for over 19,000 hectares elsewhere (Radio Free Europe/Radio Liberty, November 3). The deal effectively grants Uzbekistan control over the reservoir, a burning issue that has contributed to rising tensions between the two Central Asian neighbors (Eurasianet.org, November 17). On November 17, the Kyrgyzstani parliament approved a contentious border deal, and on November 29, Kyrgyzstani President Sadyr Japarov ratified the agreement, allowing for joint management of the reservoir (Asia Plus, November 29).

  

  Central Asia has been historically plagued by tension over access to water resources. Even the administrative divisions under the Soviet Union constantly fought over the allocation of water and pastures (Tnu.tj, May 6, 2021). In this, with the introduction of private land ownership in Kyrgyzstan, some rented Tajikistani pastures have declared the property of Kyrgyzstani citizens. Although multiple factors (e.g., strategic, political and ethnic) contribute to the escalation of border tensions among the Central Asian neighbors, the management of water resources has been a perennial issue, frequently sparking conflict. Over the past decade, more than 150 conflicts have occurred on the shared Kyrgyzstani-Tajikistani borders, with victims on both sides (Cabar.asia, February 15, 2021). In September 2022, 24 Kyrgyzstanis died as a result of the escalation of armed conflict on the border (Novosti.kg, September 17). Water is vital to the Central Asian states’ agricultural and energy sectors and, by extension, their economies. Hydropower projects are of particular concern as they can generate electricity that is consumed both domestically and abroad. A strong example of this is the Nurek hydropower plant project in Tajikistan, which will have a planned capacity of 3,000 megawatts (Worldbank.org, October 24).

  Furthermore, hydro-geographic features often serve as the basis for international borders. Even when agreed on and fully demarcated by neighboring nations, their strategic value lends itself to conflict. Since the fall of the Soviet Union, the failures of Kyrgyzstan, Uzbekistan and Tajikistan to either fully demarcate or agree on well over 1,000 kilometers of their mutual borders, has made conflicts over boundaries and resources commonplace (The Third Pole, May 28, 2021).

  According to Gulmuria Borubaeva, a department head at the Border Control Agency of the Kyrgyzstani State Committee for National Security, one primary reason “for the ‘water conflict’ in Central Asia has been the ‘Golovnoi Vodorazdel,’ the main watershed area from where the runoff from mountainous rivers is distributed between three countries that the Ferghana Valley runs through: Tajikistan, Kyrgyzstan and Uzbekistan” (The Third Pole, May 28, 2021). The Golovnoi Vodorazdel, with the Isfara River and Tortkul Reservoir near the Vorukh exclave, has become the center for the water policies and rising tensions in the region.

  Each year, conflict arises during the irrigation period from April to June over the use of water resources between Kyrgyzstan and Tajikistan, which share about 40 water channels. While Kyrgyzstani farmers living downstream complain that Tajikistanis living upstream use most of the water, the Tajikistani farmers living downstream decry the minimal amount of water arriving to their territory (Specialeurasia.com, September 29).

  Recently, however, an uptick in the frequency of violent disputes at shared Kyrgyzstani-Tajikistani water distribution points suggest the increasing gravity of these disagreements. For instance, in April 2021, a deadly border conflict between the two sides was prompted by a dispute over water rights (Asia Plus, April 28, 2021). In September 2022, another conflict on the border between the two turned into a dangerous escalation involving heavy weapons. The death toll in that conflict was 63 people (Novosti.kg, September 28).

  Given the current state of affairs, what is fueling these tensions over water resources in Central Asia? According to experts, environmental changes have raised temperatures in Central Asia faster than the global average, and this is melting glaciers in the Tibetan Plateau—also known as the “Third Pole”—disrupting water distribution in the region. As a result, some scientists predict that the region will become increasingly dryer, with more areas effectively becoming deserts. Correspondingly, the Central Asian state have witnessed some of their worst droughts in the past five years, resulting in shortages of water for irrigation and hydropower (Radio Free Europe/Radio Liberty, July 1).

  Shifts in climate have also caused areas north of the region to receive more rain than those in the south, exacerbating the problems of downstream water loss (Intellinews.com, July 6). While the upstream Kyrgyzstanis and Tajikistanis have plenty of water, Uzbekistan wholly relies on a steady supply of water for its food security (The Third Pole, June 30). Thus, we can expect that claims over the water resources of the fertile Ferghana Valley region will increasingly spark conflicts throughout Central Asia. Only cooperation among these countries on water management will help mitigate these threats in the near future. In this sense, the latest Uzbekistani-Kyrgyzstani deal on joint water management could be a step in the right direction for lasting regional water politics.

  Tyler Durden
  Fri, 12/16/2022 – 21:40

• Green Vs Green: Endangered Flower May Wipe Out Nevada Lithium Mine
  Green Vs Green: Endangered Flower May Wipe Out Nevada Lithium Mine

  It isn’t easy being green. America’s would-be second lithium mine hit a major speed bump on Wednesday, as federal wildlife officials declared that a flower known to exist only on that property is endangered. 

  An essential chemical element used in manufacturing batteries, lithium plays a starring role in the green energy movement’s myopic quest to replace fossil fuels. In Nevada, however, we get to observe the spectacle of green energy being thwarted by a different form of environmentalism.  

  The official conferment of endangered species status on “Tiehm’s buckwheat” raises the hurdle for Ioneer, the Australian mining company that has for years been planning to build an open-pit lithium mine on federal land roughly midway between Las Vegas and Reno.  

  

  Wednesday’s move by the Fish and Wildlife Service not only protects the 10 acres on which the plants are found in a 3-square-mile area, but also another 900 surrounding acres deemed as “critical habitat.”  

  The declaration was prompted by litigation initiated by the Center for Biological Diversity. Environmentalists aren’t done yet: They say Ioneer’s plan for protecting the plant won’t survive federal scrutiny.

  “I’m thrilled that Tiehm’s buckwheat now has the protections it so desperately needs for survival,” says Patrick Donnelly, Great Basin director at the Center for Biological Diversity. “Lithium is an important part of our renewable energy transition, but it can’t come at the cost of extinction.”

  Before you blame mankind for the fact that Tiehm’s buckwheat is on the brink of joining the estimated 99% of the Earth’s all-time species that have already gone extinct, consider that, according to Reuters, “an apparent, unprecedented rodent attack wiped out about 60% of [the Tiehm’s buckwheat] estimated population in 2020.”    

  Today, there’s only one operating lithium mine in the United States — the Albemarle Silver Peak Mine, which is found in the same region — near the California border — as the mine affected by Wednesday’s declaration. 

  

  Plants and animals aren’t the only impediment to tapping more of America’s lithium reserves. A whopping 79% of the country’s known lithium is found within 35 miles of tribal lands. In many places, that’s already prompting protests by native American groups opposing mining on lands they consider sacred. 

  Of course, it’s possible that there’s an as-yet undiscovered patch of Tiehm’s buckwheat somewhere else in Nevada. There are also more 17,000 prospecting claims for lithium in the state.

  However, in an unintended consequence of government policies regarding endangered species, prospectors observing Ioneer’s woes are now incentivized to discretely eradicate any Tiehm’s buckwheat they happen to find near their claim.   

  Tyler Durden
  Fri, 12/16/2022 – 21:20

• The Age Of Drones
  The Age Of Drones

  Authored by Karen Hunt (aka KH Mezek) via ‘Break Free’ Substack,

  While researching my piece, The Truth about Luciferase, I came across a patent that blew my mind and I absolutely had to write about it.

  

  The patent is described as “Systems and Methods for Mobile Sample Collection” and it has to do with drones.

  We’re talking armies of drones of all shapes and sizes, down to the smallest gnat, working together in a “swarm” to take samples, administer drugs and regulate the health and behavior of ordinary citizens. The promise is that these drones will be deployed to make our lives easier—for our health and safety.

  Embarking on this read, I would like to start with some important words:

  metaverse, meatverse, wetware, software, hardware

  Metaverse: a virtual-reality space in which users can interact with a computer-generated environment and other users.

  Meatverse: you will not find this word defined anywhere on the internet. It is the word technocrats derisively use when describing the real world.

  In June 2018, Oculus executive Jason Rubin sent an email to Facebook board member Marc Andreessen with the subject line “The Metaverse.” This paper was like the first page in the history of a new world, written by one of the gods.

  Ruben described the Metaverse as a place where users “float through a digital universe of virtual ads, filled with virtual goods that people buy. There would be virtual people that they marry, while spending as little time as possible in the so-called ‘MEATVERSE’ — referring to the real world because humans are flesh and blood.”

  We are assured that at a certain point, humans will prefer spending time in the razzle-dazzle metaverse rather than the drab and restrictive meatverse. And lest you think, oh what’s the big deal, Zuckerberg’s metaverse is on the way out, it isn’t. If he isn’t successful, someone else will be—whatever form it takes over the next 10 years or so.

  We are just pieces of meat to our controllers.

  Wetware, Software, Hardware:

  The human body is now being described in terms that are similar to robots, making us seem as if our differences are only technical. The human body and central nervous system are “wetware” as opposed to the “software” and “hardware” of machines.

  Technopedia describes wetware like this:

  …where neural networks and similar artificial intelligence technologies would be described as hardware, the human brain that they attempt to simulate and model would be the “wetware.” Biological systems are described as wetware because of the water that makes up so much of the biological tissue of humans, animals and plants. The term “wetware” will become increasingly useful as technology makes its way into the fields of biology and biological engineering.

  We are wet. Machines are dry. We have temperatures—both emotionally and physically. Machines do not. Defining humans with these new words adjusts us to accepting identification based on similarity or dissimilarity to machines.

  It’s hard to fight against our controllers if we don’t even know who or what to attack. The biosecurity state is all pervasive. There isn’t one government, organization, or person to point the finger at.

  

  As of July 2022, the United States is just behind China in camera surveillance of its citizens, with an average of two cameras for every 10 people in its major cities. The UK is in third place with one CCTV camera for every 16 citizens in its larger cities.

  Ever since 9/11, we have been programed to accept constant surveillance for our health and safety. The January 6th attack on the Capitol building opened the door for even greater surveillance due to increased risk of “domestic terrorism”. As for online surveillance, in 2019 alone, the US government investigated over 800,000 of its own citizens personal data.

  Thanks to Covid, citizens came to accept greater and greater levels of control.

  A 2020 New York Times article described this post-Covid world we now live in:

  Drones have been working as police officers, soaring over the banks of the Seine in Paris and the city squares of Mumbai, to patrol for social distancing violators.

  They’re delivering medical supplies in Rwanda and snacks in Virginia. They’re hovering over crowds in China to scan for fevers below.

  “Yes auntie, this is the drone speaking to you,” said one drone, speaking to an elderly woman below in an eerie bullhorn echo, according to a video published by Global Times, a state-controlled newspaper. “You shouldn’t walk about without wearing a mask.”

  Global Times also published an account of another drone. A voice from above castigated a small child peering skyward while seated with a man who was violating quarantine rules by playing mahjong in public: “Don’t look at the drone, child. Ask your father to leave immediately.”

  Drones can be equipped with so-called stingrays to collect information from people’s mobile phones, night-vision cameras, GPS sensors, radar, lidar (laser detection technology for creating three-dimensional maps of an area), as well as thermal and infrared cameras.

  Frank Wang is the world’s first drone billionaire. His company DJI, headquartered in Shenzhen, has a 77% share of America’s consumer drone sales, according to this Bloomberg article.

  The same drone surveillance system being used in Xinjiang, a region in northwest China that human-rights groups have described as a police state because of the oppression, horrific abuse, and confining to camps of as many as 1 million Uighurs, are being used by Flymotion, a Florida-based drone services company that uses its devices to support dozens of police departments. “DJI owns the global market,” says Flymotion CEO Ryan English.

  Agencies in all 50 states have drones now, about 90% of them made by DJI, according to a recent Bard College study.

  Now that we have figured out ways to connect machines with our bodies, creating the Internet of Bodies (IoB), drones can be used as intermediaries between our machine-controlled bodies and the elite who control it all.

  IoB means that our bodies are “connected to a network through devices that are ingested, implanted, or connected to the body in some way. Once connected, data can be exchanged, and the body and device can be remotely monitored and controlled”.

  The elite will no longer have to walk among us. They can live in safe zones, real-world paradises, while we live under constant surveillance, our only escape being the virtual worlds inside our devices and perhaps one day connected directly to our minds.

  At any time, drones can swoop down and take samples from us, or inject us with whatever drugs AI determines we need.

  Skin-like electronics are being made to monitor our health continuously, described by the United States government as “wearable electronics paired with artificial intelligence that could transform screening for health problems.”

  Such a skin-like device is being developed in a project between the U.S. Department of Energy’s (DOE) Argonne National Laboratory and the University of Chicago’s Pritzker School of Molecular Engineering (PME). Leading the project is Sihong Wang. According to Wang, ​“Such a diagnosis, with health information being continuously gathered over an extended period, is very data intensive.”

  

  Philanthropist Jennifer Pritzker, at left, and Illinois Gov. J.B. PritzkerPHOTO ILLUSTRATION: TABLET MAGAZINE; ORIGINAL PHOTOS: VINCE TALOTTA/TORONTO STAR VIA GETTY IMAGES; E. JASON WAMBSGANS/CHICAGO TRIBUNE/TRIBUNE NEWS SERVICE VIA GETTY IMAGE

  It should be noted that the Pritzker family, including Jennifer Pritzker (a male who identifies as transgender), “devotes their massive fortune to funding transgender ideology, or ‘synthetic sexual identities’ (SSI),” as described by journalist Jennifer Bilek.

  Imagine a scenario where a drone, having evaluated you as being at risk of heart disease, implants a device on or in you that will monitor what you eat, when you eat, your heart rate, how often you exercise, how many hours you sleep. It will know if you commit the sin of smoking a cigarette or drinking a whiskey.

  Perhaps AI will determine your son is really a girl. AI will know this, no matter if you say otherwise. It can administer drugs to facilitate your child’s “sex change.” What if as a result, you seem depressed or anxious? There are drugs for that, too.

  One of the products being used to facilitate this is called stretchable electronics, a thin film of a plastic semiconductor combined with stretchable gold nanowire electrodes. You can see what it looks like in this short video. Research was funded by the U.S. Office of Naval Research, the National Science Foundation and a start-up fund from the University of Chicago.

  Sub-millimeter microsensors tiny enough to inject under the skin is a step toward making tiny under-the-skin implants that continuously measure a person’s blood glucose, heart rate, and other physiological conditions a reality.

  The small device, “approximately five centimeters square, can be placed directly on the skin for around-the-clock health monitoring. When the device turns color, the wearer knows something is awry.”

  

  Other monitoring devices, according to Global Research are RFIDs:

  RFID (radio-frequency identification) chips are implanted into a passport or driver’s license. RFID tags are small computer chips connected to miniature antennae that can be fixed to or implanted within physical objects, including human beings. The RFID chip itself contains an Electronic Product Code that can be “read” when a RFID reader emits a radio signal.

  Hidden placement of tags. RFID tags can be embedded into/onto objects and documents without the knowledge of the individual who obtains those items.

  Unique identifiers for all objects worldwide. The Electronic Product Code potentially enables every object on earth to have its own unique ID.

  Massive data aggregation. RFID deployment requires the creation of massive databases containing unique tag data.

  Hidden readers. Tags can be read from a distance, not restricted to line of sight, by readers that can be incorporated invisibly into nearly any environment where human beings or items congregate. RFID readers have already been experimentally embedded into floor tiles, woven into carpeting and floor mats, hidden in doorways, and seamlessly incorporated into retail shelving and counters, making it virtually impossible for a consumer to know when or if he or she was being “scanned.”

  Individual tracking and profiling. If personal identity were linked with unique RFID tag numbers, individuals could be profiled and tracked without their knowledge or consent. (“Position Statement on the Use of RFID on Consumer Products,” Privacy Rights Clearinghouse, November 14, 2003)

  The Association for Automatic Identification and Mobility touts (AIM)biometric identification as “an automated method of recognizing a person based on a physiological or behavioral characteristic.” This is especially important since “the need” for biometrics “can be found in federal, state and local governments, in the military, and in commercial applications.” When used as a stand-alone or in conjunction with RFID-chipped “smart cards” biometrics, according to the industry “are set to pervade nearly all aspects of the economy and our daily lives.”

  Google is developing a device that can be implanted beneath a person’s skin in order to carry out diagnostic tests. The patent describes “a system for measuring and/or monitoring an analyte present in interstitial fluid in skin, capable of monitoring the blood and sweat of a wearer and transmit the results through an antenna to a companion device.”

  But how will all of this be monitored? How will it be delivered? I did some digging into patents, and I found this one which the US government is implementing.

  DOCUMENT ID: US 11517232 B1; Filed in 2015; DATE PUBLISHED: 2022-12-06; Inventor: Robertson Channing

  The only problem is that today, when I clicked the link I had, it went nowhere. I spent hours trying to find the patent, to no avail. Fortunately, I read the entire patent and also copied most of it, so I am able to share it. I thought of abandoning this essay, but it is too important. If anyone can find it, I will be forever in your debt!

  I did find this explanation and the drawing, which illustrates the different types and sizes of drones (just so you all know it exists):

  US 11,517,232 B1SYSTEMS AND METHODS FOR MOBILE SAMPLE COLLECTION Channing Robertson, Palo Alto, CA (US) Assigned to Labrador Diagnostics LLC, Wilmington, DE (US)Filed by Labrador Dlagnostics LLC, Wilmington, DE (US)Filed on Nov. 9, 2015, as Appl. No. 14/936,599.Claims priority of provisional application 62/077,023, filed on Nov. 7, 2014.Int. Cl. B64C 39/02 (2006.01); A61B 5/15 (2006.01); G05D 1/00 (2006.01); G08G 5/04 (2006.01)

  CPC A61B 5/150748 (2013.01) [A61B 5/150847 (2013.01); B64C 39/024 (2013.01); G05D 1/00 (2013.01); G08G 5/04 (2013.01); B64C 2201/128 (2013.01); B64C 2201/141 (2013.01)]

  

  So, let’s look into Systems and Methods for Mobile Sample Collection.

  Imagine our world as a giant petri dish and we are all inside of it. Experiments can be conducted on our “wetware.” There will be no escape from the drones.

  The drones being employed are described like this in the patent:

  A “drone” as used herein may be a mechanical device, electromechanical device, other self-propelled device, or a robotic device that can use one or more modes of transportation such as but not limited to flying, swimming, rolling, crawling, wheeling, and/or other movement mode to travel to a subject.

  A drone may also have at least one other capability such as but not limited to video surveillance capability, audio surveillance capability, sample collection, tissue penetration, and/or other capabilities currently known or may be developed.

  (15) Optionally, some may test for a simple and/or rapid test initially; if a positive signal is detected, then the system may send more drones or send more sophisticated drones to the subject. Some may send a base station or other forward operating device to or near the location of the first drone to sample the area around that site.

  

  (16) Optionally, the size and weight of the drone may be such that they are less noticeable to the subject. This drives to a certain length scale, possibly smaller than a mosquito having the ability to talk to one another, talk to a base station, guidance, autopilot, etc. . . . ). i) Optionally, one configuration may be one where each small flying drone (“gnat”) takes the same type of sample. Optionally, one configuration may be one where ii) each “gnat” takes a different type of sample (blood, sweat, tears, or other bodily fluid). Optionally, one configuration may be one where iii) multiple “gnats” take different types of samples.

  (21) In one non-limiting example, the nested drones or nested vehicles may be in the form of sisterships, motherships, daughterships, or any single or multiple combination of the foregoing.

  (24) In one embodiment, the mobile sampling system may combine autonomous technology with one or more swarm technologies, one or more motive/movement technologies, and/or one or more sample acquisition technologies.

  (33) Location acquisition (for targeting or retrieval) may be by one or more of the following: vision, magnetically, prior GPS coordinates, chemically, electrically, radar, sonar, GIS systems, mapping, and/or other targeting system. Some may use targeting based on features such as but not limited to gas output, thermal signature, CO.sub.2 output, scent-based characteristics, chemical, UV, anything in the EM spectrum, or other signature characteristic of the target.

  Acquisition may involve waiting for subjects to walk by or be positioned for sampling. Some may involve being positioned on a tree branch, perch, overhang, or other location above the subject S. Tentacles, webs, strings, or attachments lines may be deployed to assist in getting the sampling device to the subject S. The device may acquire sample from a subject’s finger, hand, forearm, ear lobe, ear cheek, or buttocks.

  (38) This reduced volume more enables the embodiments here to use tick or mosquito type sample acquisition techniques because the desired sample size is so small.

  (46) Most occupants could be clearly detected by their airborne bacterial emissions, as well as their contribution to settled particles, within 1.5-4 h. It should be understood that an occupied space is microbially distinct from an unoccupied one, and that individuals release their own personalized microbial cloud.

  (47) Optionally, other characteristics of the subject such as but no limited to height, weight, sex, profile, thermal image, picture, or the like may also be associated with the microbial cloud sample to more confidently confirm a target.

  (51) Optionally, sampling theory and statistics is used as part of one implementation in terms of disease or other outbreak detection.

  52) In one embodiment, the population to be sampled is one that has signed up to be sampled. An example may be all patients associated with a particular health insurance company, doctor group, medical group, or other affiliation (health-related or otherwise). Subjects may wear beacons, identifiers, other devices to help facilitate target acquisition by the sampling device. Some may wear Bluetooth, infrared transmitters, or other devices now known or to be developed in the future.

  (53) In one non-limiting example, there is an option for sampling weekly, monthly, or other interval. In one non-limiting example, such sample collection may be occurring and the subject may not even know it.

  (55) In one non-limiting example, a subject’s bodily fluid is being tested hourly or other frequent interval without the subject’s explicit knowledge.

  (62) In one non-limiting example, the sample acquisition from a subject may be in a form that is based at least in part on bio-mimicry of tick, leech, mosquito, or other natural blood sampler for sampling purposes.

  (66) Optionally, some may fly and land on a surface and then crawl to the subject. Some may land and remain in the shower or bathroom or other desired area to facilitate sample collection.

  And that’s it! Unbelievable what they have in-store for us! I hope it won’t give you nightmares. If people still mock and say it will never happen, then I don’t know what to tell you. I’m doing my best to inform as many people as will listen–myself included.

  *  *  *

  Break Free with Karen Hunt is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

  Tyler Durden
  Fri, 12/16/2022 – 21:00

• Liberals Who Ditch Tesla Should Be Aware Of 'Winter Range Anxiety' Among Other EVs
  Liberals Who Ditch Tesla Should Be Aware Of ‘Winter Range Anxiety’ Among Other EVs

  Elon Musk’s acquisition of Twitter and crusade against “defeating” the “woke mind virus” has caused panic among liberal Tesla drivers who now want to sell their electric vehicles. Others progressives waiting for Teslas are canceling orders because they no longer believe in Musk’s politics.

  Cancelling my @Tesla Model X order that’s been unfulfilled for over a year now and selling my TSLA stock. They need a cancel option that simply says “Elon Musk”. I won’t give my money to someone that no longer shares the same values I hold important. Likely he never held them. pic.twitter.com/yhxSgJUxZw

  — Tom Kulzer (@tkulzer) December 13, 2022

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

  they asked for a reason
  I said “Elon Musk’s Twitter” pic.twitter.com/mEHPxNPxnY

  — Heather Anne Campbell (@heathercampbell) December 12, 2022

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

  These progressives who are either selling their Teslas or canceling orders have been engrained by ‘woke’ culture that fossil fuels are evil and EVs will save the planet from a non-existent climate crisis that is just an idea in their head.

  So naturally, these folks will be purchasing other EVs because they now view driving a Tesla as the same as wearing a ‘MAGA’ hat.

  So San Fran residents will now buy tanks to own Musk, while conservatives in Mississippi will buy Teslas to own the libs.

  — zerohedge (@zerohedge) December 16, 2022

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

  As for climate alarmists’ predictions this summer that the world would burn, we have bad news for them as Arctic air poured into the Northern Hemisphere like a wrecking ball. The alarmists blame ‘climate change’ for every weather phenomenon, but no one bothered to tell them the climate has constantly been changing for millions of years.

  A problem that non-Tesla believers could come across is ‘winter range anxiety’ depending on the EV. According to Recurrent, a research firm that tracks EV battery health, temperatures averaging between 20-30 degrees Fahrenheit will impact vehicle range. 

  For Teslas, cold weather decreased the Model 3 Long Range’s range by -17%, the Model S P100D by -19%, and Model X 75D by -15%. Out of the list, Tesla wasn’t the worst.

  Some of the worst declines, which many liberals have said they wanted to buy instead of Teslas, include Chevy Bolt by -32%, Ford Mustang Mach-E Premium AWD by -30%, and VW ID.4 -30%. 

  My pronouns are he/him, I believe in science, and I support Dr. Fauci. @elonmusk’s continued bad actions kept me from buying a @Tesla and now I am ecstatic to have a @UAW-made @chevrolet Bolt EUV in my driveway! pic.twitter.com/8Jj3kLjaEB

  — Eric Sorensen (@ERICSORENSEN) December 12, 2022

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  And one of the best EVs to survive cold weather was surprising the Jaguar i-Pace, which only lost -3% of range. Also the Audi e-Tron was -8%. 

  

  Liberals ditching their Teslas will discover quickly what winter range anxiety means for their mobility if they go with a Chevy or Ford. 

  Tyler Durden
  Fri, 12/16/2022 – 20:40

• The Global Gas Crunch Is Set To Worsen As China Reopens
  The Global Gas Crunch Is Set To Worsen As China Reopens

  By Irina Slav of OilPrice.com

  China’s natural gas imports are set for a 7-percent rise next year as the country reopens after Covid lockdowns, which could aggravate an already tight supply situation globally.

  

  The 7-percent import increase forecast was made by state-owned energy major CNOOC, which said, as quoted by Bloomberg, that it was already looking for LNG cargoes for next year.

  The report notes that gas inventories at ports in the northern part of the country are depleting at a faster rate than usual because the weather is colder, pushing consumption higher, and this will, too, have an effect on future demand for imports.

  What’s more, pipeline supply of natural gas from Central Asia is in decline, which means China will need to rely more on LNG in its gas import mix to make up the difference. And this means more intense competition for a limited number of cargoes between Asia and Europe next year as well.

  This year, Chinese gas demand has been trending lower for most of the year, with imports declining consistently over the first ten months of the year, per a report by Energy Intelligence. LNG imports were down by a sizeable 21.6 percent over the ten-month period, reflecting the effects of lockdowns and other restrictions under the country’s zero-Covid policy.

  Yet now this policy is being reversed, mass mandatory testing is being dropped and analysts expect a rebound in economic activity before too long. This will drive higher demand for energy and contribute to higher prices due to the tight supply situation in both oil and gas.

  This reversal of Beijing’s Covid policy surprised many, who expected tepid demand for energy to continue in one of the world’s largest consumers. If activity rebounds fast, securing sufficient gas supply for the next heating season will likely become a major problem for most importers.

  Tyler Durden
  Fri, 12/16/2022 – 20:20

• Lawyers Say Bankman-Fried Needs Better Defense Than 'I F*cked Up'
  Lawyers Say Bankman-Fried Needs Better Defense Than ‘I F*cked Up’

  FTX founder and Democrat megadonor Sam Bankman-Fried’s ‘I’m Sorry, I fucked up‘, ‘It wasn’t me, but I’ll get to the bottom of this whole mess’ act needs some serious work, according to lawyers cited by Bloomberg.

  

  1) I’m sorry. That’s the biggest thing.

  I fucked up, and should have done better.

  — SBF (@SBF_FTX) November 10, 2022

  Bankman-Fried, who just filed a new application for bail before the Bahamian Supreme Court (set to be heard on January 17th), has been playing dumb and blaming competitors since day one.

  For weeks, FTX founder Sam Bankman-Fried has been previewing a possible defense to criminal charges over the cryptocurrency exchange’s collapse: I made mistakes but I didn’t mean to do it.

  But that’s probably not going to cut it now that he’s been arrested in the Bahamas and charged by federal prosecutors in New York, several lawyers not involved in his defense said. According to the indictment unsealed Tuesday, Bankman-Fried, 30, defrauded FTX customers and investors by using at least $1.8 billion of their money for personal expenses and risky bets by its sister trading firm, Alameda Research. -Bloomberg

  “I wish things worked out in the end’ is more of a (guilty) plea allocution than a defense,” according to former federal prosecutor Harry Sandick. “It’s hard to see that being a triable defense. It’s hard to know what the whole thinking was in terms of those public statements, or if there was very much thinking.”

  SBF’s current posture is aimed at suggesting the FTX meltdown was unintentional, but the eight-count indictment against him clearly lays out how he lied over and over again about fund transfers. What’s more, prosecutors likely have cooperating witnesses from FTX or Alameda who have flipped on SBF.

  “Although this is an extremely high-profile case, the indictment is a no-nonsense, no-frills document,” said Jaimie Nawaday, another former federal prosecutor. “The factual statements are short and plain. The theories of fraud are very standard — lying to get money, lying about what you’re doing with the money.”

  Accidentally co-co-commingled funds make my eyes rain pic.twitter.com/KwOTfiLUFe

  — zerohedge (@zerohedge) November 30, 2022

  While the bare-bones indictment doesn’t indicate what actual evidence the US government has against him, according to Nawaday, SBF’s public statements may have been more than enough rope for the FTX founder to have hung himself in court. If those statements are later contradicted, it would be devastating for his defense, Sandick also notes.

  “There’s a saying that a false exculpatory statement is almost as good as a confession,” he said.

  Robert Frenchman, a New York white-collar defense lawyer, said Bankman-Fried’s claims that FTX’s collapse resulted from management missteps aren’t all that convincing, even without the prosecution showing its hand. In particular, Frenchman said, the relationship between FTX and Alameda is hard to spin as innocent. -Bloomberg

  “There’s some very troubling facts here that don’t fit the mismanagement narrative,” said Frenchman, adding “I think it’s very difficult to mount that kind of a defense when the defendant is alleged to have given secret preferential treatment to his own hedge fund. Those facts surrounding Alameda are going to be much tougher to defend. They look a lot more like fraud and deception than anything unintentional.“

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  Tyler Durden
  Fri, 12/16/2022 – 20:00

• Insider Tells Tucker Carlson That CIA Was Directly Involved In JFK Assassination
  Insider Tells Tucker Carlson That CIA Was Directly Involved In JFK Assassination

  Authored by Catharine Salgado via PJMedia.com,

  Speculations about the circumstances and motivations behind the 1963 assassination of President John F. Kennedy, rife at the time the tragedy occurred, have never stopped. While Kennedy’s murderer was declared soon after the assassination to have worked alone, one insider claimed to Fox News host Tucker Carlson that the Central Intelligence Agency (CIA) was directly involved with JFK’s assassination.

  

  Carlson noted that questions about the Kennedy assassination have been circulating since it happened, simply because there were a lot of details that didn’t add up or seemed too coincidental and the CIA refused to release its documentation on the killing.

  Today we spoke to someone who had access to the still-hidden JFK files, and is deeply familiar with their contents. We asked this person directly: did the CIA have a hand in the murder of John F. Kennedy?

  Here’s the reply: “The answer is yes. I believe they were involved.” pic.twitter.com/3EURZcsaR2

  — Tucker Carlson (@TuckerCarlson) December 16, 2022

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  President Lyndon B. Johnson released a report the year after JFK’s untimely death declaring that both Kennedy’s killer, Lee Harvey Oswald, and Oswald’s killer, Jack Ruby, were acting alone. About 50 years later the CIA admitted it had withheld evidence–but why is still publicly unknown. Carlson said that the term “conspiracy theory” was first brought into everyday American lexicon by the media following JFK’s assassination due to the many rumors and suspicions flying about. The phrase then–as now, of course–was used to label anything and everything contrary to a government pronouncement–both plausible questions and far-out kookiness–as pure nonsense.

  Carlson cited one potentially suspicious circumstance, saying that psychiatrist Louis Jolyon West declared in April 1964 that Jack Ruby was insane after visiting Ruby in jail. West wrote that Ruby was in need of psychiatric hospitalization, even though no one encountering Ruby before had diagnosed him as insane.  West was a contract psychiatrist and mind control expert working for the CIA at the time. He was involved in the CIA MK Ultra program, which gave powerful psychiatric drugs to some Americans without telling them about it. U.S. media has never investigated why a CIA psychiatrist who specialized in uninformed mind control was diagnosing Ruby. Therefore, the reasons behind West’s selection remain lost to history.

  In 1976, the U.S. House of Representatives reopened an investigation into the Kennedy assassination with a special bipartisan committee, and concluded that JFK was “almost certainly murdered as the result of a conspiracy.” What was not decided: whose conspiracy? Carlson boldly called the CIA an “obvious suspect.”  He explained his reasoning: “Why else would the agency withhold critical evidence from the investigators?”  There was a 1992 congressional law mandating all JFK assassination-related documentation be released by 2017, which ultimately did not happen. Former CIA director Mike Pompeo convinced then-President Donald Trump not to release all the documents even though all the people involved are dead. The reason is unknown, and Pompeo declined to appear on Carlson’s show.

  The Biden administration released thousands of pages of previously secret government documents regarding the JFK assassination today.  It is unclear how many remain secret.

  Carlson believes he knows why the JFK files were not released in 2017, however. He said he talked with someone who has access to and familiarity with the still-secret Kennedy documentation, and asked, “Did the CIA have a hand in the murder of [President] John F. Kennedy?” According to Carlson, the insider replied, “The answer is yes. I believe they were involved.  It’s a whole different country from what we thought it was. It’s all fake.” Carlson admitted that the response was “jarring,” but insisted the unnamed source is no “conspiracy theorist … this is someone with direct knowledge of the information.”

  Carlson invited viewers, regardless of their feelings about the JFK assassination and his own new report, to consider the ramifications of what his source said. Based on what Carlson’s source stated, there are forces inside the U.S. government entirely beyond the control of the electorate (which in fact is true, simply because America has so many unelected bureaucrats). Carlson explained his understanding of the situation: “These forces can affect election outcomes. They can even hide their complicity in the murder of an American president. In other words, they can do pretty much anything they want. They constitute a government within a government.” Which is a pretty explosive accusation. Carlson noted that Americans no longer trust their government, but added that the government may be even less trustworthy than is publicly apparent.

  The situation Carlson described is truly terrifying. Unfortunately, until all the CIA documentation on Kennedy’s assassination is released, the American public cannot judge for themselves if  the insider on Carlson’s show was telling the truth or not.

  Tyler Durden
  Fri, 12/16/2022 – 19:40

• US Sends Infantry Unit To Base Just Miles Away From Russian Border In Estonia
  US Sends Infantry Unit To Base Just Miles Away From Russian Border In Estonia

  Last week the US Embassy in Lithuania announced the Pentagon plans to step up troop deployments in the Baltic states, taking what was previously categorized as “episodic” troop deployments and turning toward a “persistent rotational presence” across the Baltics, including in Estonia – which shares two small stretches of land-border with Russia.

  The embassy wrote in an early December press release that “US Ambassador Robert Gilchrist informed Minister of National Defense Arvydas Anušauskas that, as part of the ongoing commitment to its Baltic Allies, the United States will further enhance the continuous and persistent US military presence in Estonia, Latvia, and Lithuania.” This was widely interpreted as a direct response to Russia’s ten-month long assault on nearby Ukraine. 

  

  In follow-up, on Friday the government of Estonia confirmed that a US infantry company has newly arrived in the country, to take part of joint defense drills and training.

  According to the the Friday statement posted to the Estonian defense ministry’s website: “A United States infantry company arrived at Taara base in Võru this week as part of a deployment to train and serve with the 2nd Infantry Brigade of the Estonian Defense Forces.”

  It further confirmed that “The U.S. infantry company will be stationed in Võru during its deployment and will participate in joint exercises with the Estonian Defense Forces to enhance interoperability and to demonstrate the flexibility of combat credible forces to respond to threats.”

  Crucially, Taara base in Võru is a mere dozens of miles away from the Russian border – merely about a half-hour away by car. Russian state media has complained that US-Estonia troop exercises will be conducted a mere 20 kilometers away from the border.

  The US 1st Infantry Division Artillery Commander cited in Estonia’s statement, Colonel Richard Ikena, said American troops are “excited to be in Estonia” and “look forward to working shoulder-to-shoulder, alongside our Allies.”

  US Infantry troops along with a HIMARS (long-range missile) platoon will now be conducting drills at a distance from the Russian border that’s similar to the distance between San Diego and Tijuana, Mexico…

  

  Additionally, the statement confirmed that the US is deploying long-range missiles in the NATO allied country, to now include M142 High Mobility Artillery Rocket Systems (HIMARS) deployed by the US right on Russia’s doorstep.

  “The United States will also deploy a HIMARS platoon to Estonia, along with the corresponding control equipment and systems, and will cooperate with the Estonian Defense Forces to establish a divisional structure within the framework of NATO,” the US military and Estonian defense ministry confirmed.

  Welcome to #Estonia! 🇺🇸United States infantry company arrived at the Taara base in Võru this week as part of a deployment to train and serve with the 2nd Infantry Brigade of the Estonian Defense Forces @Kaitsevagi.

  Read more: https://t.co/qAO5WiAzRV

  — MoD Estonia (@MoD_Estonia) December 16, 2022

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   Already there have been ratcheting tensions between Moscow and the Baltic states, given that among European nations they have been among the most hawkish in calling for isolating and punishing the Russian government. A heightened US troops deployment along with long-range missiles will certainly escalation these tensions as the war in Ukraine continues to grow more dangerous and unpredictable, especially concerning the potential scenario of direct US-Russia clashes.

  Tyler Durden
  Fri, 12/16/2022 – 19:20

• Pennsylvania School Board Director Resigns After Uproar Over Vote Against "Cis White Male" President
  Pennsylvania School Board Director Resigns After Uproar Over Vote Against “Cis White Male” President

  Authored by Katabella Roberts via The Epoch Times,

  A Pennsylvania school board member has resigned and apologized after saying at a meeting last week that she was against voting for a “cis white male” to be nominated as board president.

  

  Jennifer Solot, who has served five years on the school board for the Upper Moreland School District, made the comments at an open board reorganization meeting on Dec. 6 as the board was considering electing two individuals, April Stainback and Greg D’Elia, as the new president.

  Now take out the word Cis White Male and replace with Gay Black Man. This is why leftist are the racists they pretend to HATE. These people are not the brightest yet they are making decisions for your kids. pic.twitter.com/7UXpKBGAlm

  — LEFTIST TEARS (@LEFTISTTEARS18) December 12, 2022

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  Solot had stated that D’Elia would make an “excellent president” but that she would ultimately not be voting for the candidate, and would instead vote for the incumbent president Stainback.

  “I believe that Mr. D’Elia would make an excellent president,” Solot said at the meeting.

  “However, I feel that electing the only cis white male on this board president of this district sends the wrong message to our community: a message that is contrary to what we as a board have been trying to accomplish.”

  Cis is short for cisgender, a term used to describe someone who identifies as the same sex they were assigned at birth.

  “I think that it is important that we practice what we preach. And that our words have strength when they are spoken, whether we speak them from the neighborhood sidewalks or from behind these tables,” she continued.

  “Mrs. Stainback has done an exemplary job as president these last few months, and the strength of her performance has earned her my vote tonight,” Solot added.

  According to his official website, D’Elia is an “engineer, father, and husband,” who had hoped to be elected to the position of School Board president.

  Solot Apologizes for ‘Poorly Chosen Words’

  Stainback’s website states that she has lived in Upper Moreland since August 1996 with her husband and their five children, all of whom have either graduated, attend, or will attend Upper Moreland schools.

  According to the website, Stainback received endorsements from the UM Republican Committee, UM Democratic Committee, and UMEA for the role of School Board president.

  “I care deeply for the schools and the township,” the website states.

  Stainback eventually won the presidential position by eight out of nine votes. However, Solot’s comments reportedly sparked uproar among the community.

  In a statement on Monday, district Superintendent Susan Elliott and Stainback said that Solot was stepping down from her role, effective Jan. 2, following the comments she made at the board meeting that “many in our community took offense to.”

  “As a result of this incident, Ms. Solot has decided to resign from the board effective January 2, 2023. She wishes to apologize for her poorly chosen words and does not want to be a distraction from the great things happening in our schools on a daily basis,” the statement read.

  “The comments made by Ms. Solot at the board reorganization meeting were solely hers and were not intended to represent the opinion of the entire UMSD Board of Directors or the district as a whole. Indeed, Board Director Greg D’Elia, who was the subject of her comments, says that he ‘supports diversity, but these comments did not further diversity and reflected poorly on our community,’” the statement continued.

  “The district thanks Ms. Solot for her five years of service to the Upper Moreland community as a board member,” the statement added.

  The Epoch Times has contacted D’Elia for comment.

  Tyler Durden
  Fri, 12/16/2022 – 19:00

• The Black Old Deal: Global Coal Demand Hits All Time High
  The Black Old Deal: Global Coal Demand Hits All Time High

  As the new and improved – not to mention far easier on the eyes – UN climate change advisor Sophia Kianni, aka Greta 2.0, is busy warming up the cover and red carpet of Forbes magazine as the 20-year-old criss-crosses the world, her carbon footprint be damned…

  Thank you for having me @Forbes ♥️ pic.twitter.com/N2y5ndQ9JP

  — Sophia Kianni (@SophiaKianni) December 16, 2022

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  … the sexy distraction has achieved its goals and while the world was ogling the new sex symbol of climate warfare, at a time when progressives are frothing at the mouth at any mention of global warming (which however won’t stop them from replacing their Tesla with an F-150 to own Musk) the International Energy Agency just reported that global coal demand is set to reach a record high this year.

  In its “Coal 2022” report published Friday, the IEA reported that coal consumption rose by 1.2% in 2022, surpassing 8 billion tons in a single year and topping the previous record set in 2013.

  

  “This means coal will continue to be the global energy system’s largest single source of carbon dioxide emissions by far,” IEA said, despite climate alarmists’ failed attempts to kill the coal industry as it was revived to stave off an energy crisis in Europe, Asia, and elsewhere.

  “Higher natural gas prices amid the global energy crisis have led to increased reliance on coal for generating power,” IEA explained.

  The report forecasts coal consumption will remain at elevated levels through 2025. 

  For me, more important that the fresh demand record high is the shape of the demand curve — rather than a peak-cliff, coal is experiencing a peak-and-plateau.

  That’s quite important as many global oil demand models assume a peak-cliff shape, which modelers may need to revisit.

  — Javier Blas (@JavierBlas) December 16, 2022

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  The world is addicted to low-cost power generation sources. The idea that fossil fuel generation, especially coal, would magically be phased out for unreliable renewable energy, such as solar and wind, has been a pipe dream and another reason for grid instability worldwide. 

  IEA’s Director of Energy Markets and Security, Keisuke Sadamori, said, “the world is close to a peak in fossil fuel use, with coal set to be the first to decline, but we are not there yet.” 

  “Coal demand is stubborn and will likely reach an all-time high this year, pushing up global emissions. At the same time, there are many signs that today’s crisis is accelerating the deployment of renewables, energy efficiency and heat pumps – and this will moderate coal demand in the coming years. Government policies will be key to ensuring a secure and sustainable path forward,” Sadamori noted.

  IEA labeled China, India, and Indonesia as the world’s three largest coal producers. Demand for coal has sent coal futures at the Newcastle Coal Terminal through the roof this year. 

  

  One of the biggest beneficiaries of coal’s revival is US-based Peabody Energy. 

  

  And while the world still on a path toward decarbonizing – this peculiar “onetime” carbon hiccup notwithstanding – nuclear power remains the best and only solution for on-demand clean energy. In the meantime, coal, NatGas, and other hydrocarbons are going nowhere. 

  Tyler Durden
  Fri, 12/16/2022 – 18:40

• Trump Files Defamation Suit Against Pulitzer Prize Board For Rewarding 'Russia Collusion' Coverage
  Trump Files Defamation Suit Against Pulitzer Prize Board For Rewarding ‘Russia Collusion’ Coverage

  Authored by Samantha Flom via The Epoch Times (emphasis ours),

  

  Former President Donald Trump filed a defamation lawsuit against members of the Pulitzer Prize Board on Dec. 13 after the board declined to rescind the 2018 National Reporting prizes presented to The New York Times and The Washington Post for their reporting on the debunked allegations of collusion between Trump and Russia.

  Noting that those allegations have long since been exposed as false, the complaint—filed in Okeechobee County, Florida—asserts that a “demonstrably false connection was and remains the stated basis” for the awarded coverage.

  “A large swath of Americans had a tremendous misunderstanding of the truth at the time the Times’ and the Post’s propagation of the Russia Collusion Hoax dominated the media,” notes the complaint, which was obtained by Fox News. “Remarkably, they were rewarded for lying to the American public.”

  The Awards

  According to the Pulitzer Prize Board, the 2018 National Reporting Prizes were awarded to The Times and the Post for “deeply sourced, relentlessly reported coverage in the public interest that dramatically furthered the nation’s understanding of Russian interference in the 2016 presidential election and its connections to the Trump campaign, the President-elect’s transition team and his eventual administration.”

  While such claims of collusion between Trump and Russia—initially sparked by allegations of a secret backchannel between the Trump Organization and the Russia-based Alfa Bank by the now-infamous Steele dossier—have long since been discredited, the Pulitzer Prize Board has defended its decision to reward the two media outlets’ reporting on the subject.

  

  On July 18, following several inquiries from the former president—which included a threat of legal action if the awards were not revoked—the board announced that it would not be rescinding the awards.

  “The Pulitzer Prize Board has an established, formal process by which complaints against winning entries are carefully reviewed,” the board said in a statement. “In the last three years, the Pulitzer Board has received inquiries, including from former President Donald Trump, about submissions from The New York Times and The Washington Post on Russian interference in the U.S. election and its connections to the Trump campaign—submissions that jointly won the 2018 National Reporting prize.”

  Noting that two independent reviews had been conducted regarding the reporting in question, the board continued: “Both reviews were conducted by individuals with no connection to the institutions whose work was under examination, nor any connection to each other. The separate reviews converged in their conclusions: that no passages or headlines, contentions or assertions in any of the winning submissions were discredited by facts that emerged subsequent to the conferral of the prizes.

  “The 2018 Pulitzer Prizes in National Reporting stand,” the board added.

  Slamming the Pulitzer Board’s decision in a statement, Trump wrote: “The Pulitzer Board has taken away any shred of credibility it had left with its ‘response’ regarding the 2018 Pulitzer Prize for National Reporting, which was awarded to The New York Times and The Washington Post for blatant fake news. Instead of acting with integrity and providing transparency, the Pulitzer Board is running cover for the biggest reporting failure in modern history: the fake Russia Russia Russia collusion hoax.”

  Also stating that The NY Times and the Post should take the “honorable” course of action and voluntarily return their prizes, the former president added: “The truth is that the 2018 Pulitzer Prize was handed out for reporting that merely parroted political disinformation—disinformation that we know was fabricated by foreign operatives and my political opponents. If the Pulitzer Prize has become a blatant acknowledgment of false, liberal political propaganda, then the Pulitzer Board should just say so.”

  The Complaint

  In the Tuesday filing, Trump’s legal team echoed those same sentiments, contending that the Pulitzer Board had issued its July statement with “knowledge or reckless disregard for its falsity” and that the board’s members “knew that the Russia Collusion Hoax had been thoroughly discredited numerous times by exhaustive, credible, official investigations, contradicting the ‘deeply sourced, relentlessly reported’” winning articles.

  “At the time of publication, nearly every branch and agency of the federal government had examined this issue and reached the same conclusion: there was no conspiracy or cooperation between President Trump or the Trump Campaign and Russia,” the former president’s attorneys added.

  The complaint also alleges that the Pulitzer Board’s statement was issued with “actual malice and the intention to harm President Trump and his reputation,” noting: “The Pulitzer Statement was knowingly published by Defendants to create a false implication in the mind of the reader that ‘the Trump campaign, the President-elect’s transition team and his eventual administration’ was connected with Russian attempts to interfere in the 2016 presidential election.”

  Trump’s team is requesting damages “in an amount to be proven at trial.”

  The Epoch Times has contacted the Pulitzer Board for comment.

  Tyler Durden
  Fri, 12/16/2022 – 18:20

• White Christmas? Meteorologists Warn Of Potential "Blizzard Over East Coast"
  White Christmas? Meteorologists Warn Of Potential “Blizzard Over East Coast”

  Long-range weather models forecast the increasing possibility of a white Christmas for parts of the Northeast. 

  “Some of the models are depicting a weather pattern taking shape that could result in very cold air pouring into the central and eastern United States next week — which could set the stage for a potential winter storm along the East Coast heading into Christmas weekend,” media outlet NJ.Com wrote. 

  NY NJ PA Weather’s meteorologist Steven DiMartino said there’s still uncertainty around forecasts but says signs are emerging of a potential East Coast winter storm next week. 

  DiMartino said atmospheric patterns and a few weather models show what appears to be a developing storm that has the “potential to be pretty impressive.” 

  “However, before anyone starts putting out snow maps or anything else that you might see on social media, understand there are a lot of moving parts in this storm,” he noted.

  “You have a disturbance in the subtropical jet stream, interaction with the Gulf stream — which is a very warm body of water off the East Coast — and an impressive Arctic air mass driving towards all of that rising air,” DiMartino continued.

  “When you have all these features come together, usually a big storm evolves … but as far as the details are concerned, I caution you not to jump on every model guidance that shows up, because a lot can change over the next couple of days,” he added.

  DiMartino explained more in the YouTube video. 

  DiMartino said the storm’s exact timing, track, and impacts are still unknown. Such forecasts will be made available in the coming days. 

  Another meteorologist by the name of Joe Bastardi, who runs WeatherBELL Analytics LLC, tweeted:

  “Christmas week blizzard over the east with severe cold liable to cause thousands of travel-related cancellations as the pattern evolution been trying to show based on old school methods seem to be working out. Euro going ballistic.” 

  Christmas week blizzard over the east with severe cold liable to cause thousands of travel-related cancellations as the pattern evolution been trying to show based on old school methods seem to be working out. Euro going ballistic pic.twitter.com/OeBTZiEsZp

  — Joe Bastardi (@BigJoeBastardi) December 15, 2022

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  We pointed out this week that a blast of Arctic air will sweep over parts of the Lower 48 around Christmas.

  

  Meteorologists have yet to lock in any forecast, and there’s still a degree of uncertainty about the storm’s details, though some weather experts believe parts of the Northeast could be looking at a white Christmas. 

  Tyler Durden
  Fri, 12/16/2022 – 18:00

• South Dakota Gov. Noem Proposes Legislation To Restrict Chinese Purchase Of US Farmland
  South Dakota Gov. Noem Proposes Legislation To Restrict Chinese Purchase Of US Farmland

  Authored by Dorothy Li via The Epoch Times (emphasis ours),

  South Dakota Gov. Kristi Noem announced on Dec. 13 new proposed legislation to restrict farmland purchases by foreign countries, namely China.

  “With this new process, we will be able to prevent nations who hate us—like Communist China—from buying up our state’s agriculture land,” Noem said in a statement.

  “We cannot allow the Chinese Communist Party to continue to buy up our nation’s food supply, so South Dakota will lead the charge on this vital national security issue.”

  

  The proposed plan marked the latest step by the Republican governor to clamp down on the Chinese Communist Party’s (CCP’s) influence in her state.

  The statement revealed that Noem and state legislators planned to create a new board, the Committee on Foreign Investment in the United States–South Dakota, to review proposed agricultural land purchases by foreign entities. The board, which would consist of three ex officio members and two experts in the agricultural industry and national security, would recommend either approval or denial of land sales.

  “We grow the world’s food, and we need to protect the security of that food supply for our kids,” said state Sen. Erin Tobin, a sponsor of the proposed legislation.

  Besides food security concerns, lawmakers also view the land that could be owned by CCP-affiliated entities as problematic from a national security perspective.

  “With vital national security resources like Ellsworth Air Force Base, we cannot afford for our enemies to purchase land in South Dakota,” said state Rep.-elect Gary Cammack, another sponsor of Noem’s proposal. “We want to keep this land in the hands of South Dakota agriculture producers.”

  

  Chinese Purchase of US Farmland

  The plan comes amid growing scrutiny of U.S. farmland being owned by Chinese investors. In September, 51 House Republicans raised national security concerns about the sale of 370 acres of farmland in North Dakota to Fufeng Group, an entity with close ties to the CCP.

  The Chinese agribusiness proposed to set up a corn mill plant on the site. The proposed project is located about 12 miles from the Grand Forks Air Force Base, home to sensitive U.S. drone, satellite, and surveillance technology.

  The site could become “the ideal location to closely monitor and intercept” the Air Force base’s “exceptional intelligence, surveillance, and reconnaissance capabilities,” the lawmakers wrote in a letter dated Sept. 26 addressed to several Biden administration secretaries.

  Despite strong pushback from lawmakers and local residents, the Committee on Foreign Investment in the United States (CFIUS) stated that it wouldn’t block the deal, because the farmland purchase is “not a covered transaction” under the panel’s jurisdiction, according to a Dec. 13 statement from CFIUS Staff Chair Andrew Fair.

  The total value of Chinese-owned U.S. agricultural land has jumped more than 20-fold in the past 10 years, according to data from the U.S. Department of Agriculture. In 2020, Chinese-owned U.S. agricultural lands were worth more than $1.8 billion, compared to $81 million in 2010.

  A total of 14 states have introduced plans to restrict foreign acquisitions on U.S. soil, according to Sens. Tommy Tuberville (R-Ala.) and Tom Cotton (R-Ark.). The two Republican senators are pushing for a federal-level ban on foreign-owned private U.S. farmland.

  In South Dakota, the current law limits foreign ownership of farmland to 160 acres, according to Noem’s office.

  

  Other Actions Against the CCP

  Earlier this month, Noem had called for an immediate review of all investments to determine if taxpayer money is going to companies that “pose a threat to our national security.”

  “South Dakotans deserve to know if their taxpayer dollars are being invested to benefit the Chinese Communist Party,” she said in a Dec. 8 statement.

  The governor said she wanted the South Dakota Investment Council, a panel managing investment of the state’s pension, to complete the review in seven days.

  “The Investment Council has ensured that South Dakota has the best-funded pension in the country. But it is not possible to make good deals with bad people,” Noem said. “If this review shows that such investment is taking place, then the Investment Council should propose alternative investment options.”

  Tyler Durden
  Fri, 12/16/2022 – 17:40

• California Is Impossible For The Middle Class
  California Is Impossible For The Middle Class

  Authored by John Seiler via The Epoch Times,

  As we head toward the end of another year, I’m remembering several friends who left in 2022 for cheaper states. And I’m thinking about several other friends who are planning on leaving in 2023 or 2024.

  

  The fact is California is difficult, often impossible, to live in if you’re in the middle class. The wealthy can afford to live here, although they often leave too, because that 13.3 percent top income tax rate really digs in, especially when they dream of moving to 0 percent Texas, Florida, or Nevada. The poor suffer, but California has a generous welfare state, so it’s easier in many ways for low-income residents than living in another state.

  It’s the middle class, the rock bed of any society, that bears the brunt of California’s brutal living conditions—amidst the sublime weather. There are three areas where the middle class is hammered: taxes, high housing costs, and a broken education system. Let’s look at them as we peer toward 2023: a little winter organizing of our political mentalities.

  1. Taxes.

   The middle class does not pay that 13.3 percent rate on millionaires, but it does pay what long was the “top” tax: 9.3 percent. California’s income tax rates were indexed for inflation in 1978. But that was only after a decade of inflation pushed the middle class into the then-top rate of 9.3 percent. That is, today the middle class pays at a rate originally intended only for the very rich.

  The middle class in no other state pays income taxes that high. Of the states, seven have no income tax at all. And 37 have a top rate below 9.3 percent.

  Here are the five states after California with top income tax rates above 9.3 percent: Hawaii at 11 percent; New York 10.9 percent; New Jersey 10.75 percent; Oregon 9.9 percent; and Minnesota 9.85 percent.

  However, for the middle class, the percentage is lower. For someone making $80,000 a year, here’s the marginal percentage tax rate for a single filer:

  • California 9.30

  • Oregon 8.75 (and no state sales tax)

  • Minnesota 6.80

  • New Jersey 6.37

  • New York 5.97

  • Hawaii 5.86

  Year after year, that adds up. Moreover, in California, $80,000 really isn’t middle class, but lower middle class. Admittedly, New York, New Jersey, and Hawaii also are high-cost states in many areas.

  But those states have much lower taxes for the middle class. And it’s easier to be in the middle class in those states because most things, especially taxes and property, are cheaper.

  2. Housing. 

  At Chapman University’s 45th Economic Forecast, held Dec. 13 and co-sponsored by The Epoch Times, economist and President-emeritus Jim Doti brought up an interesting number I hadn’t heard before. “Home prices increased 400 percent since 1990” in California, he said. “5.2 percent per year. Overall inflation then was 2.6 percent—roughly half. Home prices increased two times CPI,” the consumer price index.

  I came to California just before that, in 1987, and rented a nice one-bedroom apartment in Huntington Beach for $600 a month. In 1993 I moved to a nearby place and the price was about the same, $700 in the late 1990s. The rent crept up over the years to $1,000 in 2010, still tolerable. Then the rent started soaring, and I had to move. Today those two places rent for $2,429. My income sure didn’t go up four times in that period.

  The median price for a home in 2021 was $854,280 in Los Angeles County and $1.2 million in Orange County—although both have dropped a bit in 2022. And the median price for all California was $554,866 in 2020, lower because the Inland Empire and other inland areas are cheaper.

  But here are the median home prices in the other states I listed above for their relatively high income taxes:

  • Hawaii $636,451

  • Massachusetts $422,856

  • Oregon $361,970

  • New Jersey $335,607

  • New York $321,934

  And here are some states with no income tax:

  • Washington $409,228

  • Nevada $301,753

  • New Hampshire $296,163

  • Florida $ $245,169

  • Texas $207,301

  But according to the U.S. Census bureau, the median household income in California in 2021 was only $84,097, compared to $70,784 for the national median. That is, it’s 19 percent higher in the Golden State—which hardly covers the vastly greater expense of taxes and housing in California.

  Which makes me wonder why I’m still living here. These two things—the highest taxes and second-highest housing prices—make it almost impossible for the middle class to accumulate capital to buy a home, start a business, or even raise a family.

  3. Education. 

  I’ve written several articles here in The Epoch Times on the horrible state of the public schools in California, such as “Lessons From Running for California Schools Chief: Interview,” on Nov. 14. Test scores, already among the worst among the 50 states, dropped further during the excessive COVID-19 school lockdowns.

  Then there’s the politically correct social engineering pushed on the students, beginning with critical race theory, now mandated in state schools under the guise of “ethnic studies.”

  No wonder several of my friends left because they didn’t want their kids indoctrinated. A couple other friends with toddlers are planning to leave the next couple of years before the kids go to kindergarten.

  Private schools are an option but cost money the middle class doesn’t have. Home schooling is another option but takes dedication some families don’t have, and is next to impossible if both parents are working—itself virtually a necessity in this expensive state.

  Some school boards are kicking back against the indoctrination. Temecula Valley Unified School District on Dec. 13 banned critical race theory, while also adopting a resolution condemning racism. But few districts do this. And how long can Temecula and other districts hold out on the side of the parents and students against the pressure from the state government and the powerful teachers unions?

  Conclusion: Adios, Middle Class

  It’s simply impossible to be in the middle class in California, especially if you have kids. It’s no wonder more people keep leaving. At the Chapman Forecast, Doti provided the latest data, “Net domestic migration has been negative since 2011,” meaning more people leaving for other U.S. states than came here. “For the most recent year, 2021, it was negative 280,000.” If that keeps up, during the 2020s decade, California would lose 2.8 million people to other states.

  Gov. Newsom touts his “California Way” as a contrast to the policies of the conservative governors of Florida and Texas. “They’re doubling down on stupid, and we will not follow their path, we’re going in a completely different direction,” he boasts. But the out-migration shows the state’s middle-class residents themselves are going in a completely different direction from Newsom—out of the state.

  Tyler Durden
  Fri, 12/16/2022 – 17:00

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• China: The World's First Technate – Part 2
  China: The World’s First Technate – Part 2

  Authored by Iain Davis via Off-Guardian.org,

  In Part 1, we discussed the historical background of Technocracy Inc. that briefly found popularity in the US in the 1930s during the turmoil of the Great Depression.

  Technocracy was rooted in socioeconomic theories that focused upon the efficient management of society by experts (technocrats). This idea briefly held the public’s attention during a period of sustained recession, mass unemployment and growing poverty.

  The technological capabilities required for the energy surveillance grid, essential for the operation of a Technate (a technocratic society), were far beyond the practical reach of 1930s America. Consequently, for that and other reasons, public interest in the seemingly preposterous idea of technocracy soon subsided.

  However, in recent decades, many influential policy strategists—most notably Zbigniew Brzezinski and Henry Kissinger—and private philanthropic foundations, such as the Rockefeller Foundation, recognised that advances in digital technology would eventually make a Technate feasible. As founding and leading members of the Trilateral Commission, a policy “think tank,” they saw China as a potential test bed for technocracy.

  We will now consider their efforts to create the world’s first Technate in China.

  These articles build upon the research found in my 2021 publication Pseudopandemic, which is freely available to my blog subscribers.

  

  WHY CHINA?

  In the West we often have difficulty understanding or even conceptualising Chinese mores. We tend to see the world in our own terms and are able to describe it only in reference to the principles and philosophical concepts that we are familiar with. Perhaps we forget that the Western perspective is not the only one in the world.

  For example, as pointed out by students of the Chinese political philosophy of tianxia, there is no ontological tradition in China. In the Chinese philosophical mind, the question is not “What is this thing” but “What path does this thing suggest?”

  Datong lies at the heart of “the Great Way,” first described in the Liyun chapter of the “Book of Rites” (the Liji), written more than 2,000 years ago. Recounting the teachings of Confucius, the chapter depicted a utopian society of the ancient past this way:

  When the Great Way was practised, the world was shared by all alike. The worthy and the able were promoted to office and men practised good faith and lived in affection. Therefore they did not regard as parents only their own parents, or as sons only their own sons.

  The “Rites” (or “li”) are the formal etiquette and behavioural conduct that underpin Chinese social order. Li also compasses the ceremony and rituals that reinforce normative standards.

  Datong, which can be translated as “the Great Unity,” represents the central political and moral philosophy of the ideal Chinese society. In datong, everyone respects “the li” and is imbued with the Confucian virtue of “ren.” This love and benevolence (ren) is founded in human empathy. It first manifests within the family but extends to the whole of society.

  Datong implies a society where the most able and virtuous lead, with ren foremost in their hearts and minds. All resources are shared equitably for the common good. In the Liyun chapter, the expression “the world is shared by all alike” is written as “tianxia weigong.” This can be translated as “all under Heaven is held in common” or “all under Heaven is publicly held.”

  There is no place for private property in datong, because communities meet the needs of all. There is no conflict of interest. The Great Way is one of “Universal Harmony.”

  The opening passage of the Liyun chapter also described xiaokang, the “lesser prosperity,” in which society still maintained li and ren but differed from datong in an important regard:

  The world is the possession of private families. Each regards as parents only his own parents, as sons only his own sons; goods and labour are employed for selfish ends.

  While datong describes a world where resources are “shared by all alike,” in xiaokang resources are in “the possession of private families.” Xiaokang was not seen as opposed to datong but rather on the path toward it, for li and ren were still observed. But there is a warning in the Liyun chapter that private property and the control of resources by private interests present a risk:

  Therefore intrigue and plotting come about and men take up arms.

  

  Kang Youwei’s book “Datong shu” (The Great Commonwealth) was published posthumously in 1935. Kang wrote it as a series of lecture notes, the earliest dating to 1884. Rather than view datong only as a lost utopia, Kang proposed datong as a future society that could be constructed. He viewed ren as the path toward establishing the common good for all, attainable by eliminating suffering and creating happiness.

  Kang noted that ren was applicable not only to humanity but to the universe and all within it, and he called this “jen.” Jen gave rise, he said, to creation and to the establishment of universal order. Therefore, order should be based upon the same principle of the “compassionate mind.”

  He drew upon the work of the Confucian scholar He Xiu, whose Gongyang theory of history described sociopolitical development as a path consisting of incremental, progressive stages. Kang built upon Gongyang’s work to plot a course toward the Great Unity.

  In essence, Kang suggested that society could be reverse-engineered to achieve datong in the future. He identified “nine boundaries” of human suffering that needed to be deconstructed in order to reach datong. He said that datong could be attained once nation-states, social class, racism, sexism, families, private property, injustice, environmental destruction, and poverty (the result of social inequality and oppression) were abolished.

  “Sages” or “persons of jen” would be needed to lead, Kang maintained. He acknowledged that the sages had to operate in the social, economic and political circumstances of their day and that the resultant laws and institutions might be oppressive and cause suffering. Therefore, the objective of the “person of jen” (sage) should be to reform the laws and organisations of the state with a view to eradicating the nine boundaries of suffering.

  With the abolition of the nation state, Kang’s proposed path toward the Great Way extended far beyond China. He favoured a global society where a world government would rule over a planet that was divided into regional districts.

  In this global society, there would be no class or private property, and all would strive to deliver the common good and benefit everyone. Specifically, all resources would be deployed for the benefit and happiness of all. Public institutions, not families, would raise children. And the children would be trained to become citizens who would provide free services, such as health care and education, for all.

  The only distinction between people would be the badges of honour worn by those deemed to have great ren, or knowledge—that is, the sages. Ultimately, once datong exists, there would be complete harmony with nature, which in turn would mean that all human beings are vegetarians and that euthanasia would be practised with ren, for the common good.

  The ideology of datong, as Kang expounded it, and the hope of following the Great Way have strongly influenced Chinese political philosophy throughout the 20th and 21st centuries. Xi Jinping has been heard on numerous occasions to repeat the phrase, “When the Great Way prevails, the world is for everyone.”

  Seen from the Chinese philosophical perspective, the best anyone can hope for today is xiaokang. Thus, xiaokang sages must be free to reform the institutions of the state on the path toward removing the nine boundaries, achieving datong and leading the Great Way.

  There are many parallels between this path and the socioeconomic theory underpinning technocracy. For those who wished to establish a global technate, China was a natural choice for their pilot project.

  

  UNDERSTANDING TECHNOCRACY

  While there is a lot of debate about the extent of “legitimate” technocratic governance in the West’s supposedly liberal representative democracies, governance is just one aspect of technocracy. In other words, technocratic governance alone is not technocracy.

  As discussed previously, a technocracy is a “governance of function.” The overarching goal is to run the whole of society as efficiently as possible.

  The Technocracy Inc. Study Course states:

  The basic unit of this organization is the Functional Sequence. A Functional Sequence is one of the larger industrial or social units, the various parts of which are related one to the other in a direct functional sequence. Thus among the major Industrial Sequences we have transportation (railroads, waterways, airways, highways and pipe lines); communication (mail, telephone, telegraph, radio and television); agriculture (farming, ranching, dairying, etc.); and the major industrial units such as textiles, iron and steel, etc. Among the Service Sequences are education (this would embrace the complete training of the younger generation), and public health (medicine, dentistry, public hygiene, and all hospitals and pharmaceutical plants as well as institutions for defectives)

  Each “Functional Sequence” is overseen by a directorate. For example, the Distribution Sequence collects all the data gathered from the “Energy Certificates,” which are allocated to the citizens to be exchanged for goods and services. The “Price System” is abolished. There is no private property. The entire Technate is controlled by one body: Continental Control.

  Like Kang’s “sages,” and in a fashion similar to guidance of the population toward the Great Way, a technocracy creates a rigid hierarchical structure to ensure that all are working for the common good. In the language of technocracy, the citizen contributes toward the appropriate service function.

  Effectively, this creates a pyramid-like sociopolitical structure:

  The personnel of all Functional Sequences will pyramid on the basis of ability to the head of each department within the Sequence, and the resultant general staff of each Sequence will be a part of the Continental Control. A government of function! The Continental Director, as the name implies, is the chief executive of the entire social mechanism. On his immediate staff are the Directors of the Armed Forces, the Foreign Relations, the Continental Research, and the Social Relations and Area Control. [. . .] The Continental Director is chosen from among the members of the Continental Control by the Continental Control. Due to the fact that this Control is composed of only some 100 or so members, all of whom know each other well, there is no one better fitted to make this choice than they.

  Class is abolished in technocracy. Child care is provided by the Technate. Rather than having “great ren,” the general staff of the Technate are said to possess “peck-rights.” That is, they are the most suited to be at the top of the pyramid because a “governance of function” works most efficiently when “the right man is in the right place” to serve the common good.

  Like the ideas presented in “Datong shu,” the intention of technocracy is essentially altruistic. The small cluster of engineers, economists, sociologists and other academics brought together by the Rockefellers and Howard Scott wanted to construct a society that would deliver “lives of abundance” to all.

  It must be admitted that the Technocracy Inc. Study Course made some valid criticisms of a number of social problems. Unfortunately, the offered solution of a Technate is both arrogant and naïve.

  It assumes, much as does the notion of a Great Way, that authority can be exercised by some human beings over other human beings for the common good. Further, it imagines that there is some social or political mechanism that can produce leaders who are omniscient and capable of defining what that “common good” is.

  Both datong and technocracy would require human nature to undergo a fundamental transformation. Avarice, malevolence, narcissism, psychopathy and every other deleterious failing would need to be expunged from humanity. Until they are, power will continue to be sought by those who want to control others.

  The most ruthless among us will ultimately succeed—often not because they are the most suited but because they are prepared to do what others won’t in order to gain the power they crave. This situation will persist for as long as we believe that someone or some organisation needs to have absolute authority over our lives in order for us to be able to cooperate effectively.

  To imagine that concentrating all power in the hands of a tiny, select band of experts or sages will solve the problems caused by the unscrupulous and frequently violent and immoral use of authority is ridiculous. You can’t fix a kakistocracy by investing more power in the “kakistocrats.”

  For the global public-private partnership (G3P), which operates a compartmentalised, hierarchical, pyramid-like power structure, the most enticing aspect of technocracy is the extreme centralisation of power and authority over vast swaths of the humanity. That is why, as soon as technological development permitted and the opportunity arose, the G3P set about assisting the development of a Technate in China.

  

  INFILTRATING CHINA

  The formal story of Henry Kissinger’s “secret” 1971 discussions with Chinese Premier Chou En-lai—officially acknowledged in 2001—is that US President Richard Nixon sent Kissinger to normalise relationships with the Chinese government as a counterbalance to the Soviet Union. What is mentioned less frequently, though, is Kissinger’s relationship with the Rockefellers.

  In 1956, the Rockefeller Brothers Fund commissioned Kissinger to convene its Special Studies Panels. The panels investigated emerging global challenges and trends and suggested how US foreign policy might adapt to meet them.

  In the 1961 publication of the six panel reports, Prospect for America (subtitled “The problems and opportunities confronting American democracy—in foreign policy, in military preparedness, in education, in social and economic affairs”), the Rockefeller Brothers Fund outlined how public-private partnership would be key to this projected future:

  Corporations, whose operations extend through many nations[,] [. . .] through which a considerable and essential part of the world’s economic activities is carried on, must be able to compose diversities, adjust conflicts of interest, and adapt their operations to the needs of the country in which they operate. In doing so they represent a further example of multinational solutions to common problems.

  The authors of these reports regarded private finance as essential not only for developing international markets but also for guiding the social and political development of the target nation:

  Rapid economic growth can be achieved only if local savings and public foreign investment are supplemented by an increasing inflow of private foreign investment. Such investment performs two key functions: it adds to the capital resources of the host nation and it is the chief mechanism through which the managerial and technical skills and the creative and catalytic quality can contribute to economic development in less developed areas. [. . .] Private philanthropic capital can also play an important role in economic development.

  The panels that provided the analysis for Prospect for America were convened in the aftermath of McCarthyism. They needed to appeal to a US polity still obsessed with the perceived threat of international communism. Thus, the reports eulogise so-called democracy throughout.

  However, there are numerous indications that the Rockefeller foreign policy strategists were willing to diplomatically suggest alternatives:

  The American pattern of private enterprise and voluntary association is not the only mold for a free society.

  It is clear that these strategists sought to both exploit the differences between nation-states for their development potential and amplify the importance of global issues as a means of uniting nations, regardless of their model of government, under a system of global governance. They considered scientific and technological development one way to do just that:

  In the field of science, international cooperation on a world scale is most readily achievable. [. . .] [T]he United States should, therefore, seek to develop a series of agreements, looking toward the stimulation of scientific interchange and the fostering of scientific progress on a world scale. [. . .] The Communist nations should be invited to participate.

  The panels, which effectively formed a temporary Rockefeller-funded think tank, were not opposed to colonialism on moral grounds but they highlighted its tactical flaws. Inherent in their critique of colonialism was an acknowledgement that alleged democratic values have nothing to do with hard-nosed geopolitics or with expansive foreign policy ambitions:

  While colonialism exacted a human and political toll, it also represented one of the greatest conversions in history. As the ideals of the British, French and American revolutions became diffused, partly through the very spread of colonialism, the seeds were sown for the destruction of colonialism itself. The more successful the teachings of the colonial powers, the more untenable grew their position. Almost without exception, the leaders of independence movements fought their rulers in terms of the rulers’ own beliefs. They asked them to live up to their own principles.

  The Rockefellers, being one of the leading families at the head of the G3P’s compartmentalised hierarchy, had worked with the Chinese authorities for generations. John D. Rockefeller Sr. was trading kerosene in China in 1863.

  The family’s philanthropic foundation had long fostered strong ties with the Chinese government. For example, it helped advance the use of Western allopathic medicine in China by establishing the Peking Union Medical College (PUMC) and by making other philanthropic investments.

  It’s safe to say that the Rockefellers were knowledgeable and enthusiastic supporters of the Chinese government. Not surprisingly, they were also knowledgeable and enthusiastic supporters of the technocracy movement in the US, maintaining their keen interest in it despite its lack of public support. They understood the potential of social engineering to create a governance of function (a Technate):

  Changes in technology have always been a major cause of change in government, economic relations and social institutions. But technological innovation is no longer the work of isolated, ingenious inventors; it is the product of organised scientific enterprise and is constant, insistent and accelerating. One of its notable effects is upon the tempo of social change itself, which is enormously quicker than it has been, and which subjects every inhabitant of a technological society to its pressures. Technological innovation thus poses a series of issues with which our society will have to deal. [. . .] The growth of technological society has changed the traditional society in which men have enjoyed freedom. Large and complex organisations have become the order of the day. [. . .] Programs for the preservation and strengthening of individual freedom must assume the existence and the inevitability of such organisations.

  The Rockefellers had a nuanced appreciation of the potential for technological development to act as the catalyst for change. Despite the report’s primary focus on the US relationship with the Soviet Union, the Rockefellers obviously recognised the ripe opportunities in China:

  It [China] has a rapidly growing population, a shortage of resources, and a fanatical ideology. Around a large part of its perimeter exists “soft” situations, making infiltration, subversion, and outright conquest seem easy or inviting prospects. The present relations between Soviet Russia and Red China [. . .] may not always be drawn together by common interests. [. . .] We must avoid, wherever possible, courses that seem to drive China closer to the Soviets.

  As founders of the Trilateral Commission, the Rockefellers’ and their fellow Trilateralists’ goal was to infiltrate China by extending the hand of cooperative friendship through public-private investment in technological and thus financial and economic development.

  The Sino-Soviet split was seemingly the window of opportunity they wished to lever open.

  China’s society, its political history and government structure was already amenable to the introduction of technocracy, as it was to communism. The Trilateralists were apparently eager to avoid the mistakes of Western colonialists, who extolled the democratic ideals and associated legal concepts which had come back to bite them. These ideals were, in any event, antithetical to the Trilateralists’ project.

  

  ASSISTING CHINA

  Following Mao’s death in 1976, Deng Xiaoping rose to power, becoming the Paramount Leader of the People’s Republic of China (PRC) in 1978. Just two weeks after assuming power, on January 1, 1979, he became the first communist Chinese leader to conduct a formal state visit to the US.

  He was received with full state honours by the administration of Jimmy Carter, whose National Security advisor was Trilateralist Zbigniew Brzezinski—and who was himself a Trilateralist.

  Deng Xiaoping immediately set about instigating a series of social and economic reforms, which were called “reform and opening up” in China and “the opening up of China” in the West.

  Deng was one of a group of eight high-ranking Chinese officials who had survived the brutal repressions of cultural revolution. The reverently named “Eight Immortals” were credited with turning the Chinese economy from an unstable mess, riven with extreme poverty, into the thriving economic engine it is today.

  Despite the hopes of datong, and far from being the sages that Kang Youwei dreamed of, the sons and daughters of the Eight Immortals, who are collectively known as the Princelings, hoovered up China’s state assets to effectively create a new dynasty, just as corrupt as its predecessors. Such is the nature of kakistocracy.

  The scale and pace of the economic transformation in such a vast country would have been impossible without the considerable inward investment and the transfer of technology which China received from the G3P. This G3P investment was the initial source of China’s economic growth miracle. In late 2019, The World Economic Forum (WEF) reported:

  High levels of government spending and foreign investment have enabled China to roughly double the size of its economy every eight years since the introduction of economic reforms in 1979.

  CITIC (China International Trust & Investment Corp, renamed CITIC Group) was effectively China’s state–run investment arm. Kissinger’s visit to China had opened up investment banking opportunities for Rockefeller’s Chase Group (Chase Manhattan Bank at the time.)

  In June 1980, CITIC Chairman Rong Yiren attended a meeting with David Rockefeller and the representatives of 300 Fortune 500 companies in the Chase Manhattan offices in New York.

  The purpose of the meeting between CITIC and the G3P representatives was:

  [To] identify and define those areas of the Chinese economy most susceptible to American technology and capital infusion.

  Kissinger and Rong reportedly established an investment company, with Trilateralist Kissinger appointed as a special advisor to CITIC. The initial phase of China’s economic transformation consisted of banking reforms that allowed much greater Foreign Direct Investment (FDI) in China.

  FDIs aren’t just capital investments. They typically come with a transfer or sharing of expertise, technology and even workforce. Common types of FDIs are mergers, acquisitions, management services and logistical and manufacturing agreements.

  From the mid 1980s onwards the G3P began to pour into Beijing’s Central Business District (CBD).

  By 2009 there were 114 Western companies with a substantial presence and established investments in Beijing and beyond. By 2020 there were 238 Fortune 500 companies in Beijing. Today, Beijing CBD (called the Functional Area) now houses the regional headquarters of 105 multinational corporations and more than 4,000 foreign-invested enterprises. The CBD is one of six “high-end industrial functional areas in Beijing.”

  According to Chinese state media, between 1983 and 1991 FDI in China went from a value of $920 million to $4.37 billion. By 2019 total FDI had risen to more than $2.1 trillion. At the same time, the transition economy of China, just like many other economies, rapidly expanded its money supply.

  All of this monopoly money, a mixture of FDI and domestic (digital) currency printing, fuelled the economic and technological development of China. In exchange for access to its market, the Chinese government required that investors sign so-called Forced Technology Transfer (FTT) agreements.

  Simultaneously, the Western mainstream media (MSM) began constantly pushing the notion of the “rising threat” of China and frequently accused China of alleged industrial espionage and “technology theft.“

  Like so much propaganda aimed at Western populations by their MSM, these charges were just a fabrication. In truth, no one was forcing anyone to transfer technology to China. In fact, Trilateralists like President Bill Clinton went to considerable lengths to make sure China could get hold of the technology, including military technology, it needed.

  In 1994 the Clinton administration scrapped Cold War export controls, thereby enabling more sensitive technology to be transferred to China. Claiming that they would not allow defence technology, such as supercomputer or potential uranium enrichment technology, to go to China (or Russia), they soon lifted this restriction via a work-around that shifed oversight from the departments of State and Defense to the Department of Commerce.

  One only has to look at the near identical design of US and Chinese defence systems and weaponry to see that a massive amount of “sensitive” technology is common to both countries.

  The asinine explanation we are given is that this is all the result of Chinese espionage, even though the US government has amended legislation to make such transfers possible.

  The Israeli government and Israeli defence contractors have consistently acted as facilitators for the transfer of the most sensitive Western defence and surveillance technology to China. As soon as “reform and opening up” began in 1979, Israeli multibillionaire—then a humble billionaire—Saul Eisenberg flew a delegation of defence contractors to arrange military supply contracts with the Chinese government.

  While the West’s MSM parrots the intelligence agencies’ overwhelmingly baseless claims that China represents an “immense threat,” the US government and others have maintained deep defence ties with the Israeli government for generations.

  In the full and certain knowledge that Israel is passing defence technology to China, the US and other NATO allies continue to provide Israel with the latest defence technology.

  Occasionally a story surfaces claiming that Washingtion is “angered” by this habitual practice. If we look beyond the propaganda, the fables simply reaffirm that which is blatantly obvious.

  

  The Israeli government, its defence contractor and tech corporation partners, have consistently acted as a conduit for the transfer of “sensitive” defence, fintech, surveillance and communication technology from the West to China. Between 1992 and 2017 the volume of overall trade between Israel and China multiplied 200 times over.

  Another Western propagandist myth is that China has “stolen” jobs from Western economies. While it is true that manufacturers took advantage of cheaper labour costs in China, leading to job losses in the West, the practice of offshoring jobs had been ongoing for decades.

  Companies are in the business of maximising profits for shareholders and staying competitive. No one was forcing Western corporations to offshore. It was simply an economic expediency, largely the consequence of G3P efforts to modernise China’s economy.

  Often the focus of G3P investment in China has been Research and Development (R&D). In 1994 China ranked 30th in terms of US overseas R&D investment; by 2000 it was 11th.

  Between 1994 to 2001 multinational corporation (MNC) investment in China quadrupled. As a ratio of overseas R&D investment, the G3P were providing thrice the amount of “technology infusion” into China compared to anywhere else.

  While the pseudopandemic sharpened the decline in total global FDI, that figure continued to rise in China.

  The 4% increase of FDI in China in 2020 saw it temporarily surpass the US as the world’s leading recipient of direct investment. In 2020, while FDI in other advanced economies collapsed, China benefited from FDI valued at $163 billion.

  In addition to the huge growth stimulus pumped into the Chinese economy over the last four decades, a significant number of foreign/Chinese industrial R&D alliances were established. These were separate business organizations that targeted specific research or technological development projects. They were formed through collaboration between academic and scientific research establishments, NGOs, government institutions and private enterprise.

  Between 1990 and 2001 the US government established 105 such alliances. In the same time period, Japan had the second largest number of R&D partnership alliances (26), followed by Germany (15), the UK (14), Singapore (12), and Canada (11). The overwhelming majority of these R&D collaborations operated in China.

  From 2001, to the financial crash in 2008, both FDI in R&D and China’s own R&D investment really took off. While the explosive pace of FDI growth slowed from 2010 onward, by 2016 China’s own outward foreign investment had surpassed the FDI it received. That was an astounding economic turnaround in less than 40 years.

  A 2019 report by the World Bank stated:

  China’s spending on research and development (R&D) rose to 2.18 percent of GDP in 2018, up from 1.4 percent in 2007[.] [. . .] Its spending on R&D accounts for around 20 percent of the world total, second only to the United States. Its number of patents granted annually for inventions increased from 68,000 in 2007 to 420,000 in 2017, the highest in the world. [. . .] China is also a hotbed for venture capital in search of the next technology. [. . .] China has evolved from being a net importer of FDI to a net exporter. [. . .] China remains an attractive destination for foreign investments due to its large domestic market. Foreign enterprises such as BASF, BMW, Siemens, and Tesla have recently announced new or expanded investments in China.

  A focus of apparent Western concern has been China’s Belt and Road Initiative (BRI).

  This enormous infrastructure project, known in China as One Belt, One Road, or OBOR, is establishing a network of modern trade routes across Eurasia, linking Asia, Africa, Europe, South East Asia and Australasia, easing both international trade and, in particular, Chinese exports.

  Beyond China’s borders there are 140 countries involved in the BRI to one degree or another.

  In its 2018 research paper looking at FDI in a BRI-related project, the World Bank referred to those countries directly involved in its construction as BRI nations. China’s own investment in BRI nations has grown, but the majority of its FDI goes to non-BRI nations. These, according to the World Bank, are nations that are not inviolved in the BRI.

  China is the leading single nation investor in BRI nations but it does not account for the bulk of total investment. China took the lead after the 2008 financial crisis saw non-BRI nations (such as the US and the UK) pull back on their FDI deals in BRI nations. The investment from the non-BRI nations picked up again as quantitative easing (money printing) monetary policies in Western countries took effect post-2010.

  The World Bank reported:

  The majority of BRI countries’ [those who are part of the One Belt, One Road project] FDI inflow comes from non-BRI countries.

  That is to say, BRI nations—Italy, Saudi Arabia, Austria, New Zealand, South Korea and Singapore, etc.—are net recipients of FDI from non-BRI nations, such as the US, UK, France and Germany.

  The majority of the investment, expertise and technology that is building the BRI infrastructure comes from the non-BRI G3P partners. The notion that Western politicians, corporations and financial institutions are worried about the Belt and Road Initiative is just an MSM story. In reality, they are working hard to construct it in partnership with China.

  

  CHINA: THE WORLD’S FIRST TECHNATE

  China has developed an overt system dedicated to the social engineering of society.

  As noted in Part 1, the definition of technocracy is:

  The science of social engineering, the scientific operation of the entire social mechanism to produce and distribute goods and services to the entire population.

  The focus of technocracy is to direct the population to maximise the efficiency of all “functions” of society, primarily through control of the allocation of resources.

  Published in 2014, the State Council Notice for planning a Social Credit System (SCS) outlined the Chinese government’s rationale for its social credit system:

  The social credit system is an important component of the Socialist market economy system and the social governance system; [. . .] its foundation is a complete network covering the credit records of all members of society and the credit infrastructure; [. . .] its reward and punishment mechanisms are incentivizing trustworthiness and restricting untrustworthiness. [. . .] The establishment of a social credit system is an important foundation for comprehensively implementing the scientific viewpoint of development. [. . .] Accelerating and advancing the establishment of the social credit system is an important precondition for promoting the optimized allocation of resources.

  This is a description of pure technocracy.

  Western commentators often focus upon the technological aspects of China’s social credit system. China certainly operates a dystopian surveillance society, but this complements the social credit system which, as the name suggests, is an overarching system for “implementing the scientific viewpoint of development.”

  The Massachusetts Institute of Technology (MIT) reported that the supposedly “terrifying system doesn’t exist” in China:

  [T]he system that the central government has been slowly working on is a mix of attempts to regulate the financial credit industry, enable government agencies to share data with each other, and promote state-sanctioned moral values.

  MIT and its funding partners, such as the Rockefeller Foundation, have consistently highlighted the potential merits of the social credit system (SCS).

  When reading that material, we must separate the rhetoric of the engineers of the social credit system from its practical application.

  Like the Great Way or technocracy or communism, the political philosophy underpinning the social credit system is presented by its advocates as progressive, humanitarian and benign. Naturally, the people who impose this system would also need to be progressive, humanitarian and benign, right?

  Yet, while the social credit system is effectively a massive bureaucracy, combining the digital sharing of information with legislation and various paper-shuffling exercises, there are many aspects of it that are extremely concerning.

  For one thing, it creates a public-private partnership that, by rewarding good behaviour, fosters public faith in the mechanisms of the state. For another, it punishes those who aren’t duly faithful.

  

  The SCS removes access to “privileges” from people who have broken the law and even from those who haven’t. The concept of Joint Disciplinary Action in the SCS introduces the idea that, if found “untrustworthy,” a citizen or organisation so labelled will face broader social consequences, from having their right to fly removed to restricting their ability to book “high-class” tickets on trains to impeding their employment or business opportunities.

  The SCS sets up a blacklist for those deemed to have committed “misdeeds.” Thus far it has predominantly punished those who have failed to pay court fines or those considered bad debtors.

  Chinese state media have praised the courts’ partnership with tech giants like Sesame Credit—the credit-scoring system of the Alibaba Group subsidiary Ant Financial.

  Chinese government data, gathered from the courts and elsewhere, has been combined with private data, gathered from social media, for the purpose of lowering the financial credit score of millions of people who have been “blacklisted.”

  Public humiliation and shaming are commonly used to change the blacklisted’s behaviour. The Supreme Court maintains a database of “discredited individuals” (laolai). Tech companies like TikTok, owned by Chinese company ByteDance Ltd., publish laolai lists from the publicly available data to inform its users which companies and individuals have been “discredited.”

  Technology enhances the social credit system.

  To register a SIM cards and new SMART phones, Chinese users must by law use face scan technology. This biometric data then informs China’s already extensive and rapidly expanding national network of facial recognition cameras.

  The surveillance grid, allowing entry to everything from bus depots to safari parks, is integrating with alleged emotion-recognition technology to assess an individual’s mood and “predict” their behaviour.

  China’s internet is highly regulated via the “Measures on the Administration of Internet Information Services.” The government prohibits news bloggers from commenting on any policies or political developments without a license from the Cyberspace Adminstration of China (CAC).

  Again, this system operates as a public-private partnership. There are eight licensed Internet Service Providers (ISPs) in China registered with the Ministry of Industry and Information Technology (MIIT), but censorship largely occurs through the state’s partnership with fintech companies and social media platforms. The censorship is overseen by the Internet Information Office.

  The Chinese have to register their personal details to use the popular social media platforms. The independent sale of SIM cards and network adapters is prohibited; the cards and adapters require similar registration upon purchase and prior to use.

  The Chinese authorities can block foreign websites, restricting citizens access to information from outside China, and it is a crime for anyone to facilitate the illegal flow of prohibited information into China. The Chinese authorities have effectively created the crime of information-smuggling.

  Beyond inciting crimes or advocating violence or terrorism, Article 12 of China’s Cybersecurity Law outlines the other types of information that Chinese people are not permitted to share:

  [Users] must not use the Internet to engage in activities endangering national security, national honour, and national interests; they must not incite subversion of national sovereignty, overturn the socialist system, incite separatism, break national unity, [. . .] create or disseminate false information to disrupt the economic or social order, or information that infringes on the reputation, privacy, intellectual property or other lawful rights and interests of others, and other such acts.

  In other words, no one is permitted to question the state in China. This doesn’t stop the people from doing so, but the associated risks are high. Political dissidents can certainly expect to be censored by the social media platforms, and prison sentences are a distinct possibility for those who speak out too vociferously.

  Among the major geopolitical powers, China is leading in the development of Central Bank Digital Currency (CBDC). CBDC is “programmable money” and the issuer can insert “smart contracts” to control what can be bought, where it can be used and who can use it.

  Bo Li, the former Deputy Governor of the Bank of China and the current Deputy Managing Director of the International Monetary Fund (IMF), speaking at the Central Bank Digital Currencies for Financial Inclusion: Risks and Rewards symposium, clarified smart contracts further:

  CBDC can allow government agencies and private sector players to program [CBDC] to create smart-contracts, to allow targetted policy functions. For example[,] welfare payments [. . .], consumptions coupons, [. . .] food stamps. By programming, CBDC money can be precisely targeted [to] what kind of [things] people can own, and what kind of use [for which] this money can be utilised. For example, [. . .] for food.

  At the 2022 World Economic Forum’s Davos gathering, the president of the Chinese Alibaba Group, J. Michael Evans, announced that the global tech corporation would soon roll out its personal “carbon footprint tracker.”

  He said:

  We’re developing, through technology, an ability for consumers to measure their own carbon footprint [. . .] That’s where they’re travelling, how they are travelling, what are they eating, what are they consuming on the platform. [. . .] So, individual carbon footprint tracker, stay tuned! We don’t have it operational yet, but this is something we’re working on.

  During the initial COVID-19 lockdowns, China’s government required all businesses and public services to install Covid status app scanners, connected to the internet.

  In order to access shops, restaurants, libraries, hospitals, etc., and to move between the newly created urban “zones,” the Chinese have to use their Covid app. In conjunction with the SIM and SMART phone registration requirements, combined with the biometric facial recognition technology, the public movements of the urban Chinese can be tracked 24/7 in real time by China’s public-private partnership.

  The foundations for “the scientific operation of the entire social mechanism” have already been built in China. One of the major cities conducting some of its business in CBDC is Shanghai. In Shanghai’s Pudong “smart city” district, an AI integrated monitoring system is able to access the feeds from 290,000 surveillance cameras.

  The deputy director of the smart city, Sheng Denden, explained the systems value to the Chinese government:

  For the government, this is a tool for more efficient administration in the city.

  China is not communist. It is a technocracy. It is the world’s first Technate.

  

  THE CHINA BLAME GAME

  As we have already discussed, the idea that Western governments are “opposed” to China’s government is frankly ridiculous. This is not to suggest that there aren’t tensions, but these spring from competition not trenchant animosity. China’s government, and its tech giant partners, are as much a part of G3P as any other nation. The propaganda, from both the West and the Communist Party of China, serves as a surface narrative designed to divide and rule the global population, and to exert control over the respective domestic populations.

  The Trilateralists who worked tirelessly to ensure that China was able to construct a Technate are seemingly proud of their claimed achievements. In 2001, Hedley Donovan, one of the founding members of the Trilateral Commission alongside Brzezinski and the Rockefellers, wrote:

  It’s no exaggeration to describe the current regime as a technocracy. [. . .] You might say that technocratic politics is a natural fit with the Chinese political culture. [. . .] During the 1980s, technocracy as a concept was much talked about, especially in the context of so-called ‘Neo-Authoritarianism.’ [. . .] The basic beliefs and assumptions of the technocrats were laid out quite plainly: Social and economic problems were akin to engineering problems and could be understood, addressed, and eventually solved as such. [. . .] Scientism underlies the post-Mao technocracy, and it is the orthodoxy against which heresies are measured.

  The self-congratulation was largely misplaced. That China’s government developed a Technate owes more to that nation’s circumstances and political and social history and belief systems than it does to the ambitions of the Trilateralists.

  Technocracy is intended to be a sociopolitical system where individual rights are sacrificed to communitarianism. This is contrary to the Western liberal tradition. Technocracy represented less of a culture shock to the Chinese people. Certainly this fact was another impetus for the Trilateralists to pilot technocracy in China.

  Just as we in the West generally believe in individual liberty and freedom from the state, so the Chinese people largely hold that the state should strive to rule with ren along the path to the Great Way and equality for all. In both cases, the people continue to be deceived and disappointed by the “kakistocrats,” who clearly have no intention of living up to any of those principles or expectations.

  The mass and widespread Chinese demonstrations against the human cost of the government’s harsh Covid lockdown measures shows that the people are not willing to simply allow the state to do whatever it likes.

  While isolated protests in China are not unusual, the scale and coordination of these protests are testament to the Chinese people’s determination to resist oppression.

  The Western investment in Chinese technocracy was made with a view to developing a global system, not one restricted to China. From the surveillance network and social credit to censorship and social control using CBDC, having seen what can be achieved in China, Western governments are busy trying to impose exactly the same model of technocracy upon their own people.

  The Western political class cannot help but openly admire China’s technocracy. The only difference is that China’s system is publicly discussed—although rarely acknowledged as “technocracy” by name—while the rapidly emerging technocracy in the West is denied and concealed.

  The G3P is ostensibly colonising Western populations yet remains eager to avoid the errors of 19th century colonialists. The Rockefellers’ research in the late 1950s highlighted the need to first justify the necessary destruction of democratic values—something all Western governments are working hard to do.

  For its part, the Chinese government has had its own reasons for allowing technocracy to flourish. Technocracy fits well with China’s domestic policy ambitions. That said, there is no reason to think that the Chinese government ever intended to “export” technocracy to other nations.

  Technocracy is being installed globally. This suits China’s oligarchy, accustomed as it is to operating a Technate. The Chinese government has no reason to stand in the way of the global adoption of technocracy. It is merely aligned with the global transformation, not leading it.

  China’s government is not forcing other nations to adopt technocracy. Rather, all governments are collaborating to that end.

  The Chinese people are not our enemy, and China is not a foe to be fought. We, the people of the Earth, are all under attack by our own G3P governments.

  Tyler Durden
  Fri, 12/16/2022 – 00:00

• 1st Full Test Of Hypersonic Missile Successful: US Air Force
  1st Full Test Of Hypersonic Missile Successful: US Air Force

  Authored by Caden Pearson via The Epoch Times (emphasis ours),

  The U.S. Air Force said Monday it had successfully tested a hypersonic missile off the coast of Southern California on Dec. 9.

  

  The hypersonic missile, known as the AGM-183A Air-launched Rapid Response Weapon (ARRW), was launched from a B-52H Stratofortress bomber while in the air.

  The United States has been testing its hypersonic missile capabilities amid growing concerns Russia and China have had more success developing their own hypersonic weapons.

  The Lockheed Martin-built hypersonic missile reached over five times the speed of sound after it was fired from the bomber. The missile flew its scheduled flight path and detonated at its target, according to the Air Force.

  “The ARRW team successfully designed and tested an air-launched hypersonic missile in five years,” said Brig. Gen. Jason Bartolomei, executive officer of the Air Force’s armament directorate program, in a statement.

  “I am immensely proud of the tenacity and dedication this team has shown to provide a vital capability to our warfighter.”

  The “All-Up-Round” test of the full prototype by the Air Force was similar to the two previous booster tests in that they were launched from a bomber flying off the coast of Southern California.

  However, the test last week was the first of the entire system, with previous missions concentrated on the booster rocket.

  US Behind China

  The Pentagon is eager to advance progress on hypersonic missile testing and development, particularly since China and Russia have demonstrated progress in their own projects.

  In March, Russia said it had used hypersonic missiles to destroy Ukrainian military assets in what marked the first time Moscow has acknowledged using this type of weapon in combat. In a March 19 operational report, Russia’s military ministry stated that it destroyed a massive underground storage site for missiles and aircraft ammunition in Ukraine’s Ivano-Frankivsk area.

  Last year, a secret Chinese hypersonic missile circled the earth and struck down toward a target. To address the threat, U.S. lawmakers urged that long-stalled military research be restarted.

  One expert has said that the United States is trailing China in the development of hypersonic weapons.

  “China has effectively taken the lead in the hypersonic weapons race due to the breadth and depth of its technology investments,” said Rick Fisher, a senior fellow at the International Assessment and Strategy Center, a security-focused think tank.

  “We are only seeing the beginning of their weapons developments in this field.”

  In Fisher’s opinion, the race to develop hypersonic weapons—and who uses them first—may determine who dominates the international order in the coming decades.

  ARRW

  The ARRW is a boost-glide missile that accelerates a projectile to hypersonic speeds using a booster rocket. The glide vehicle subsequently separates from the rocket and travels at hypersonic speeds using inertia.

  Read more here…

  Tyler Durden
  Thu, 12/15/2022 – 23:20

• Judge Blocks Biden Plan To Shred "Remain In Mexico" Policy
  Judge Blocks Biden Plan To Shred “Remain In Mexico” Policy

  A federal judge blocked the Biden administration’s plan to scrap the Trump-era ‘Remain in Mexico’ policy which required certain illegal immigrants to return to Mexico while they await immigration court proceedings.

  

  The program, known as the “Migrant Protection Protocols,” is different from Title 42, which is set to end next week.

  US District Judge Matthew Kacsmaryk ordered the Biden administration to pause their plan to end the program.

  “As Secretary Mayorkas has said, MPP has endemic flaws, imposes unjustifiable human costs, and pulls resources and personnel away from other priority efforts to secure our border,” Biden’s Department of Homeland Security (DHS) said in June, when the Supreme Court ruled that the administration could terminate the policy, which was formally lifted in August.

  The decision comes as federal border authorities encounter overwhelming levels of illegal immigration, with a record more than 2.3 million migrants encountered in fiscal year 2022 and even more expected with the end of another Trump-era expulsion policy, Title 42, expected on Dec. 21. -Daily Caller

  As the Daily Caller notes, the Biden administration originally attempted to cancel the policy on Biden’s first day in office, but was prevented from doing so by a flurry of lawsuits from Republican states.

  After the Supreme Court’s June decision, theyt sent it back to Kacsmaryk to consider whether it complied with the Administrative Procedure Act, which requires that agencies conduct certain procedural steps when implementing policy.

  Tyler Durden
  Thu, 12/15/2022 – 22:40

• Oregon Judge Blocks High-Capacity Magazine Ban
  Oregon Judge Blocks High-Capacity Magazine Ban

  Submitted by Gun Owners of America,

  Gun Owners of America & Gun Owners Foundation have successfully delivered on their promise to fight gun control in the Beaver State.

  A Judge in Oregon State Court granted GOA a Preliminary Injunction in the case Arnold & GOA v. Brown. The injunction halts the magazine ban in Oregon’s most recent gun control law – Ballot Measure 114 (BM 114) – from being enforced. The Judge also maintained the Temporary Restraining Order on BM114’s permit-to-purchase requirement. 

  This means that Oregonians can still buy standard-capacity magazines and purchase firearms without a permit.

  GOA has secured a preliminary injunction against the Oregon magazine ban in state court! The restraining order on permits to purchase has ALSO been maintained. pic.twitter.com/gliqyWrbpp

  — Gun Owners Foundation (@GunFoundation) December 15, 2022

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

  Previously, on December 6th GOA was granted a Temporary Restraining Order (TRO) against BM 114. This Comprehensive TRO prevented the entire new law from being enforced before it could go into effect on December 8th.

  Ballot Measure 114 passed by razor-thin margins, and was reportedly bankrolled by out-of-state anti-gun lobbying groups such as Everytown and Giffords.

  Had the law gone into effect, it would have

  • Banned Magazines over ten rounds
  • Required a permit to purchase any firearm
  • Required a training course, application fee, fingerprinting and a duplicative background check to obtain a permit-to-purchase.

  “With implementation [of measure 114], there are serious harms to the public interest as well, which could include individuals being arrested and prosecuted for Class A misdemeanors under what could be found to be an unconstitutional statutory scheme.” https://t.co/qdE63UJzDI

  — Gun Owners of America (@GunOwners) December 6, 2022

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

  Erich Pratt, GOA’s Senior Vice President, had this to say:

  “GOA and GOF are very glad that Judge Robert Raschio responded to our arguments and is protecting the Second Amendment rights of Oregonians. We will continue to oppose the ineffective magazine ban and permit-to-purchase scheme, as these infringements would fail to control criminals, but instead, would endanger the safety of law-abiding citizens.”

  This victory is just one of many battles for your rights that GOA & GOF are fighting in the court system nationwide. Like we have been warning anti-gun activists and politicians since the Bruen decision, fall in line with this precedent, or we will make you.

  *  *  *

  We’ll hold the line for you in Washington. We are No Compromise. Join the Fight Now.

  Tyler Durden
  Thu, 12/15/2022 – 22:20

• 'Some Sort Of Sex Slave'? Son Of Paul Pelosi's Attacker Breaks Silence, Fuels Speculation
  ‘Some Sort Of Sex Slave’? Son Of Paul Pelosi’s Attacker Breaks Silence, Fuels Speculation

  The son of Paul Pelosi attacker, David DePape, says his father ‘is not evil,’ and is ‘hardly a right-wing conservative.’ He also implied that the 82-year-old Pelosi may have invited DePape over for sexual activities.

  

  Speaking with the Daily Mail, Nebosvod ‘Sky’ Gonzalez said “He isn’t a danger to society, I don’t even know if he even attacked Mr. Pelosi. For all that we know he was some sort of sex slave, as Elon Musk pointed out.”

  The 42-year-old DePape appeared before a San Francisco Superior Court Judge on Wednesday for a preliminary hearing, and will be arraigned on federal charges on Dec. 28, which include attempted murder, assault with a deadly weapon, elder abuse, false imprisonment of an elder, first-degree burglary and threatening the family member of a public official . He has pleaded guilty to all charges. He has also been charged in federal court.

  When asked about first hearing of his father’s arrest, Gonzalez said he was in shock, and that “That’s not the type of person he is.”

  Official reports about the attack have changed several times. First, an ‘unknown third party’ opened the door after police arrived at the Pelosi house – after which police witnessed DePape take a hammer from Pelosi and hit him with it. Then, it was that Pelosi and DePape were both struggling with the hammer, and DePape wrested it from Pelosi and beat him with it. Then, in a now-retracted report which has gotten veteran NBC reporter banished from the air, after being alone in the home for 30 minutes, Pelosi opened the door when police arrived. However, he did not try to escape or alert police to an emergency, and he instead walked to the police and back toward DePape.

  NBC Report Contradicts Federal Charging Statement in Paul Pelosi Attack – And Paul Pelosi’s Actions
  NBC reporter Miguel Almaguer reported on the Today Show that accused attacker David DePape and Paul Pelosi were alone in the Pelosi home for thirty minutes, #PaulPelosi pic.twitter.com/X6RURvSMYJ

  — Vlemx4u (@vlemx4u) November 4, 2022

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

  NBC News deleted the clip from their Twitter feed and scrubbed it from their website.

  BREAKING: The @TODAYshow has now DELETED this clip and @NBCNews has scrubbed it from their website because it “did not meet” their “reporting standards.”

  WHAT IS GOING ON?! https://t.co/Ku8w32rPCr pic.twitter.com/V6jUWk562c

  — Benny Johnson (@bennyjohnson) November 4, 2022

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

  “I’m surprised about the whole thing. There is still a lot of info that hasn’t been given to the public. I have no clue what happened or how it happened. There are more questions than answers right now. Do we even know what really happened?” he told the Mail.

  There is “almost no person on this planet that has gone through so much suffering,” the 19-year-old Gonzalez said. “If you look into his eyes, you can see he’s such a sad person.”

  

  “He often told us he was raised in an abusive home and would be physically abused by his grandparents,” Sky continued, adding that DePape was bullied in school and didn’t have any friends.

  Their mother, Oxane ‘Gypsy’ Taub, gave them the last name “Gonzalez” as a tribute to a Mexican family that allegedly saved her life several years ago.

  Not politically motivated

  Gonzalez, who says he hasn’t seen his father in several years, told the Mail that the attack wasn’t likely to have been politically motivated.

  “My father had a lot of political views and told me about a lot of different things, but he didn’t subscribe to either political party, Democrat or Republican,” adding that the two parties ‘are just covers and colors.’

  

  “What matters are the policies of each individual person. Each individual person is unique, and it isn’t about right or left. That’s just a distraction,” he continued.

  “My father had progressive views. He believed in human rights, equality, and justice. He was against the war, he was a peace activist, hardly a right-wing conservative, as he has been branded.“

  Mental Illness

  Shortly after DePape’s arrest, Taub – who is currently imprisoned for the attempted abduction of a 14-year-old boy, told ABC30 that her former partner was “mentally ill,” and that he disappeared for a year in the mid 2010s.

  “He came back in very bad shape. He thought he was Jesus. He was constantly paranoid, thinking people were after him,” she said, adding “And it took a good year or two to get back to, you know, being halfway normal.”

  “When I met him, he was only 20 years old and he didn’t have any experience in politics, and he was very much in alignment with my views and I’ve always been very progressive.”

  “I absolutely admire Nancy Pelosi,” she added.

  According to Gonzalez, “We all deserve to know what happened, especially in such a high-profile case,” adding “But we don’t know what happened. I don’t know whether or not my father did what he’s been accused of. So far, what we know doesn’t make any sense.“

  Tyler Durden
  Thu, 12/15/2022 – 22:15

• Here's The Latest Sign Americans Are Going To Eat Bugs And Be Happy
  Here’s The Latest Sign Americans Are Going To Eat Bugs And Be Happy

  The latest sign Americans will one day be eating insects is that a top bug producer announced Tuesday major expansion plans in North America. 

  French insect producer Ÿnsect signed two agreements to expand production facilities in the US and Mexico in 2023. The company “entered an accelerated phase of international development with the signing of a memorandum of understanding with Ardent Mills for an industrial facility in the United States and the signing of a joint development agreement with Corporativo Kosmos in Mexico.” 

  Ÿnsect’s development plans include 10-15 insect farms worldwide by the end of the decade that can meet the feeding demand of hundreds of millions of people, if not more. The producer of bugs uses highly-automated vertical farms to raise Buffalo and Molitor mealworms to create insect protein. 

  Many Americans have already been conditioned for the brave new world, one pushed by the World Economic Forum of a so-called ‘sustainable’ future where you’ll eat insects… 

  

  … and also own nothing. 

  

  Some of the latest conditioning to eat bugs was an article published in Jeff Bezos-owned The Washington Post.

  

  Which brings us to the WEF’s warning earlier this year about an impending food crisis kicked off by the war in Ukraine. 

  In the medium term, it highlights the need to transform our food system, using more green energy. We should also be encouraging more sustainable diets, which contain fewer grain fed animal products; and regenerative agricultural practices, which improve soil health and the efficiency of nutrient use by the crop. -WEF

  So… eat bugs and be happy about owning nothing are the global elites’ blueprint for 2030 society. 

  Tyler Durden
  Thu, 12/15/2022 – 22:00

• "There's A New Sheriff In Town": Twitter Nukes Liberal Pundits From Platform
  “There’s A New Sheriff In Town”: Twitter Nukes Liberal Pundits From Platform

  Twitter on Thursday evening began purging reporters from major media outlets, just one day after new owner Elon Musk changed the platform’s “anti-doxxing” policy in response to a “crazy stalker” who climbed on the hood of a car carrying his two-year-old son.

  

  Those kicked off the platform include:

  • Keith Olbermann of MSNBC
  • Ryan Mac of the NY Times
  • Anthony Webster of Bellingcat
  • Donnie O’Sullivan of CNN
  • Micah F. Lee of The Intercept
  • Matt Binder of Mashable
  • Drew Harwell of the Washington Post
  • Aaron Rupar of his mom’s basement

  There’s a new sheriff in town pic.twitter.com/NNfyFnOPmJ

  — Election Wizard 🇺🇸 (@ElectionWiz) December 16, 2022

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

  Also booted was the official account for Twitter competitor Mastadon, which earlier in the day posted a link to track Musk’s private jet.

  This was The Washington Post’s @drewharwell‘s post before he was suspended from Twitter, outlining how Twitter suspended the account of its competitor Mastodon earlier today. pic.twitter.com/Vc8QuwHXZE

  — Ben Collins (@oneunderscore__) December 16, 2022

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

  It was unclear what prompted the suspensions, though it appears they are related to doxxing – current or in the past.

  “Same doxxing rules apply to “journalists” as to everyone else,” Musk said on Thursday evening, adding “Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not.”

  Same doxxing rules apply to “journalists” as to everyone else

  — Elon Musk (@elonmusk) December 16, 2022

  “They posted my exact real-time location, basically assassination coordinates, in (obvious) direct violation of Twitter terms of service,” Musk said in a subsequent tweet.

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

  Criticizing me all day long is totally fine, but doxxing my real-time location and endangering my family is not

  — Elon Musk (@elonmusk) December 16, 2022

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

  Aaron Rupar said in a statement to CNN‘s Oliver Darcy: “I never posted anything Elon Jet related or that could violate the policy about disclosing locations. Unless the policy is that you criticize Elon and you get banned.”

  Except…

  UPDATE: Rupar posted screenshots of the location of Elon Musk’s private plane

  — Charlie Kirk (@charliekirk11) December 16, 2022

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

  Interestingly, the Washington Post‘s resident trust-fund snitch Taylor Lorenz deleted her ‘entire archive and took her account private,’ according to The Federalist‘s Sean Davis.

  Who tipped off @TaylorLorenz that she was about to get busted for doxxing? Within the last hour she nuked her entire archive and took her account private. pic.twitter.com/fLuNoocwVS

  — Sean Davis (@seanmdav) December 16, 2022

  Corporate media has framed this as Twitter suspending journalists “who have been covering Elon Musk and the company.”

  

  A spokesperson for the NY Times said that the suspensions were ‘questionable and unfortunate,’ and said that no explanation was provided.

  “We hope that all of the journalists’ accounts are reinstated and that Twitter provides a satisfying explanation for this action,” said Charlie Stadtlander, communications director for the Times.

  Some aren’t taking the news well…

  I don’t know what happened here but if @elonmusk doesn’t fix this within the hour with an explanation by morning, I’ll be on Capitol Hill tomorrow demanding that he be hauled in front of Congress. pic.twitter.com/8oTmLkbdzZ

  — Jason Kint (@jason_kint) December 16, 2022

  Oh Jason…

  

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

  What happened to:

  — Private companies have the right to disassociate themselves from anyone they want.

  — Have you ever heard of “Terms of Service?”

  — If you don’t like how Twitter does content moderation, start your own social media site.

  Remember all those arguments? https://t.co/j0P2os8ZF4

  — Glenn Greenwald (@ggreenwald) December 16, 2022

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

  As expected, the reactions have been flying!

  It’s funny seeing the Libs panic over their friends getting suspended. They’re finally getting a taste of what Conservatives have lived through for years. https://t.co/WYmOBKbL1N

  — Libs of TikTok (@libsoftiktok) December 16, 2022

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

  Me looking at libs saying that account suspension rules are vague and aren’t applied evenly pic.twitter.com/g61lqoeVhE

  — Richard Harambe (@Doc_Chimpanzee) December 16, 2022

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

  Suddenly the fake media cares about twitter suspensions.

  — John Ocasio-Rodham Nolte (@NolteNC) December 16, 2022

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

  December 15th is the new January 6th

  — Matt Walsh (@MattWalshBlog) December 16, 2022

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

  Maybe he wants real news reporting on the site, and not political propaganda.

  I know it’s a hard concept for some of you “journalists” to grasp. https://t.co/zOrSSsjnWU

  — Momo Shitco (@MomoShitco) December 16, 2022

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

  Tyler Durden
  Thu, 12/15/2022 – 21:40

• Ford Raises F-150 Lightning Prices Again, Now 40% More Expensive
  Ford Raises F-150 Lightning Prices Again, Now 40% More Expensive

  The base version of the Ford F-150 Lightning electric pickup now starts at $56,000, more than 40%, or about $15,000, over its original listing price earlier this year, according to Electrek. Ford hiked prices in August and October. 

  Electrek discovered the stealth price hike after visiting the order page of the Detriot-based automaker’s website. The configuration and base price of all EV Lightning variants is shown below. 

  

  “Interestingly, the prices of the other versions of the F-150 Lightning haven’t increased with this update. The cheapest way to get a Lightning with the longer-range extended battery pack is still the XLT, starting at $81,000,” Electrek said. 

  There was no explanation by Electrek or Ford about the price hike. However, we pointed out several days ago that lithium-ion battery packs jumped in price for the first time since BloombergNEF began tracking. 

  

  Meanwhile, lithium prices per ton are skyrocketing. 

  

  Higher prices could spark an affordability issue that might jeopardize EV adoption. Morgan Stanley analyst Adam Jonas recently told clients that EV demand is slowing. 

  Tyler Durden
  Thu, 12/15/2022 – 21:20

• 2 + 2 = 5
  2 + 2 = 5

  By Peter Tchir, chief strategist at Academy Securities

  We discussed Orwellian Moments back in August, but yesterday’s Fed meeting has confounded me (again) and left me trying to figure out some of their “math”. But first, let’s cover the ECB.

  The ECB Made Sense

  The ECB has been late to the rate hike party and has some catching up to do. They also have a serious inflation problem, but one that is different than ours. They were (and still largely are) incredibly dependent on cheap Russian energy to power their countries. That is a problem and is something that they have to combat. Today they did two things:

  1. A “hawkish” 50 bps hike. They could have gone with more, but chose not to. However, Lagarde made it very clear that they are prepared to do more. While Powell made it somewhat clear that we were nearing the “wait and see” moment, the ECB did not. That pushed all yields in Europe higher.
  2. They announced that their QT would start in March and be €15 billion. That seemed to hit markets hard and explains why Italian 10-year bonds are 10 bps worse than German and French bonds. If nothing else, hopefully central bankers are learning that QE distorts asset prices more than any other policy that they can enact, and those distortions are disruptive and difficult to unwind. For example, a relatively small amount of QT (starting 3 months from now) had a significant market impact today – scary to think about). My one hope is that going forward central bankers will use QE only in the direst of circumstances and for the briefest time possible (in cautiously small amounts). Probably wishful thinking, but seems logical to me!

  So, the ECB and the market’s reaction to the ECB largely make sense.

  Back to 2 + 2 = 5

  

  This chart takes monthly core CPI (seasonally adjusted) and presents it in 4 ways: the sum of the 12 months, taking the prior 6 months and multiplying it by 2, taking the prior 3 months and multiplying it by 4, and finally just taking the most recent month and multiplying it by 12.

  The big black line is the annual one that we all see and it is around 6%.

  My favorite line is the light blue one, which represents the prior 3 months * 4. I like that because the data is recent and incorporates the impact that prior policy decisions should be having. Using 3 months “smooths” the data. That has been trending down for several months and is currently down to 4%. This is above the Fed’s target of 2% (which Powell reiterated yesterday), but is hardly alarming. If anything, we probably should be talking about how to “flatten the curve” to get a soft landing (I already think that it is too late for that as you can read in Rise and Fall of Inflation Drivers and Squishy Landing).

  If you simply take the latest month and annualize it, we were at 3.3% last month and 2.4% in the latest month (wow, almost like their policy has worked)! But instead, we have to focus on trailing 12 months, despite the impacts of higher yields and quantitative tightening needing more time to fully impact the system! It is so Orwellian to me that it hurts!

  But that wasn’t all that sent me back to this dystopian wasteland.

  “By the middle of next year, we should begin to see lower inflation from the housing services sector.”

  Powell said that. He knows that rents incorporate data from as much as 10 months ago. He knows as well as you and I do that it is a lagging indicator. He even said as much (at least that is how I interpret his comment). But why do we include it and base policy on it, knowing it is wrong! The 3 highest prints for owner’s equivalent rent in the past 30 years came in Q3 and Q4 this year. Simply impossible, and even the Chair acknowledges that it will go down, but he is still acting on it as though it is legit!

  I will continue to send charts of Zillow’s data around and expand on this work that first started in earnest back in an October T-Report.

  Imagine how low the prior 3 months of core data would be with proper housing inflation data. And yes, think of how high it really was last year when we were being fed the “transitory” story.

  Finally, he highlighted jobs, which I will grant have been decent, but he seemed to ignore several things:

  • The Household Survey hasn’t been as good as the Establishment Survey (a couple million jobs difference).
  • The survey response rates have been low, making people question their validity and if there is any “self-selection” bias in the reporting (companies doing well report, but maybe others don’t).
  • The Philly Fed thinks Q2 jobs were overstated by more than 1 million! Some group within the Fed tasked with figuring out how accurate the data is thinks that it was overstated by 1 million, which is more in line with the Household Survey!
  • The JOLTS data has a high number of vacant jobs. The question is how overstated is that number? How has it kept up with online job searches?

  We address many of the jobs questions in Inflation Dumpster Dive and More Inflation Dumpster Diving, and the Fed’s own work on the subject is there for all to see.

  If one part of the economy is doing better than expected (by some measures, but not all), I’d spend more time wondering if the good measures are accurate, rather than basing a large part of my policy on data that is the outlier!

  And just today, sales numbers came in extremely weak and last month’s numbers were revised down! The consumer is buying for the holidays and buying on discount, and I expect that to evaporate as we head into the new year!

  Bottom Line

  The Fed should be taking a victory lap and figuring out how to avert a hard landing, but for some reason they insist on looking at old data (12 months, rather than data impacted by their actions), stale data (OER), and pollyannish data (the selective use of some jobs data) to signal that they want a higher terminal rate!

  Good luck with that, because 2 + 2 does NOT EVER EQUAL 5!

  I feel better after that rant, and I am buying the dip here in risk because I believe that the Fed speakers will sound a bit more dovish as they resume their speaking circuit, and it is a bit premature to trade the very hard landing (that I still expect will happen).

  Tyler Durden
  Thu, 12/15/2022 – 21:00

• Study Claims Unvaccinated People More Likely To Be Reckless, Cause Traffic Accidents
  Study Claims Unvaccinated People More Likely To Be Reckless, Cause Traffic Accidents

  A new study released this month by members of the Temerty Faculty of Medicine at Toronto University in Canada makes the bizarre claim that being unvaccinated is an indicator of psychological risk-taking and recklessness.  The authors, Donald A. Redelmeier, MD, Jonathan Wang, MMASc, and Deva Thiruchelvam, Msc argue that data involving traffic accidents in which one or more people are admitted to the hospital for injuries shows a correlation between vaccination status and car wrecks.

  Not surprisingly, the data sources involved in the study strongly support the original premise.  But we’ll get to that in a moment…

  The first question one might ask is why in the world anyone would engage in such a study in the first place?  The notion is out of left field and requires a couple initial assumptions – That unvaccinated people are a monolithic group that share the same psychological motivators, and that those motivators are dangerous.  Without this rather biased assumption, it’s unlikely that a group of doctors or scientists would dream up the study in the first place.  

  Of course, strange premises are not necessarily proof of rigged conclusions.  So, let’s get into motivations:

  The authors of the study are all member of the University or Toronto Temerty Faculty and the Sunnybrooke Health Sciences Centre.  This faculty and section of the university was funded by a $250 million grant from James C. Temerty and the Temerty Foundation in 2020; it was the single largest gift in Canadian history.  The money was designated to various areas of the university, but a large portion went directly into Covid-19 research projects. 

  So who is James Temerty?  He is a Ukrainian born citizen of Canada and the founder of Northland Power, but his non-profit foundation appears to be his primary focus.  He is also on the advisory board of the Atlantic Council, a globalist think-tank out of Washington DC with many of the same ideological aims promoted by the World Economic Forum.  In fact, members of the Atlantic Council are often invited to speak at WEF functions and none other than Klaus Schwab was the very first recipient of the Atlantic Council’s “Global Citizen Award” several years ago.

  The Atlantic Council advisory board is a long list of global elites and corporate heads.  The institution also had previous connections to Charles Koch, though this relationship has apparently ended. 

  Does anyone in the vaccine industry and Big Pharma have a close relationship to the Atlantic Council?  Of course.  Albert Bourla, the Chairman and CEO of Pfizer.  Bourla is often invited to speak at Atlantic Council events and was awarded the council’s Global Citizen Award just last year.     

  As many people are now aware, the methodology of globalist think tanks is to use philanthropy (large sums of tax deductible money) as a means to control society by influencing (or corrupting) the top 10% in the professional class/academic class.  

  If you can buy the people that run the colleges, buy the people in suits and buy the people in lab coats then you can own the narrative and control the other 90% of people who simply “defer to the experts” without doing their research.  The Temerty Foundation clearly has a high level of influence over the University of Toronto and their medical wing, and James Temerty is on the advisory board of a globalist institution that has aggressively supported the Pfizer narrative on covid mandates and vaccination.

  Any covid based study funded by members of the Atlantic Council should be immediately treated as suspect.

  But what about the science itself?  How did the Temerty Faculty come to the conclusion that lack of covid vaccination indicates reckless behavior?  Where did they get the vaccination data?  Where did they get the traffic data?  How did they tie it all together?  

  The study claims to have developed their reference points using encrypted identifiers from official government registries.  In other words, they exploited private medical data tracked by the Canadian government.  By cross referencing vaccination status with severe traffic accidents the group asserts that the unvaccinated are 72% more likely to harm themselves or others in the process of a car wreck.

  There are two problems immediately evident from a scientific standpoint: 

  One, the group admits that a much larger portion of people who are unvaccinated were younger, ages 18-39.  This makes perfect sense, because the vast majority of young people are at near zero risk of mortality from a covid infection.  The median Infection Fatality rate of covid is a tiny 0.23%, and the younger you are, the more the IFR shrinks.  Why get a vaccine for a virus that is no threat to your age group, and that doesn’t prevent transmission to those around you anyway?  

  But beyond that, younger people are also statistically more likely to get into car accidents by virtue of age, inexperience and more reckless behavior.  While teens are known for auto accidents, insurance companies rate people ages 25 – 34 as the deadliest drivers on the road.  This age group, coincidentally, makes up the bulk of the Temerty Faculty’s unvaccinated test case. 

  In other words, the study seems to ignore the age factor in an effort to support the unvaccinated factor.  Maybe their vaccine status has nothing to do with their risky behavior and their younger age is the actual cause?  Which is more likely given the circumstance?

  Two, another problem with the study is the complete lack of peer review and the inability for independent analysis of their core data.  The group claims to have used encrypted government medical data that is unavailable to the public (rather convenient, right?).  While certain government officials might be able to get quick access, there is no way for the general public to look at this data to see if their claims are accurate or if the study is rigged.  They could, frankly, say whatever they want about the unvaccinated being dangerous and no one would be able to disprove it for quite some time.  

  Perhaps a couple of years down the road the study will be debunked, but as in most cases of dubious and potentially politically motivated science the headlines stick in people’s minds while no one notices the retractions.

  But what would be the motive for exaggerating this kind of study other than to try to make the unvaccinated look bad?  Consider the possibility of insurance as leverage.  

  Most people are required by law to have insurance of one kind or another, including car insurance, and the premiums they have to pay are based on a company’s (or government’s) determination of risk.  Imagine if your insurance rates in every area skyrocketed because you are unvaccinated and are considered high risk?  This is likely the root purpose of studies like the one in Toronto.

  Punish the unvaccinated by institutionalizing vaccine status into every facet of life, including car insurance, health insurance, life insurance, home insurance, business insurance, etc.  Another point of leverage would be credit.  Many bank loans are also based the concept of low risk, but if you are unvaccinated and labeled high risk in life and in finances then you could be rejected for future access to funds.    

  The basic strategy is this:  Use high costs to force the unvaccinated into compliance, and slowly whittle the public down.  These people won’t give up easily, and since the direct route of medical tyranny has failed, they have decided to use indirect chicanery to get what they want.

  Tyler Durden
  Thu, 12/15/2022 – 20:40

• Guyana Is Becoming A Top-Tier Oil Producer
  Guyana Is Becoming A Top-Tier Oil Producer

  By Matthew Smith of OilPrice.com

  Despite the dire predictions of peak oil demand, which will is expected to arrive during the next decade as the world transitions to a low-carbon economy, international energy companies are investing heavily in fossil fuel exploration and production. One region which has caught the world by surprise and is attracting significant attention is the Guyana-Suriname Basin. A swathe of world-class discoveries by ExxonMobil in offshore Guyana sparked considerable interest in the Guyana-Suriname Basin, which after poor drilling results during the 1960s and 1970s saw it largely ignored by energy companies. Recent discoveries with estimated recoverable oil resources of more than 11 billion barrels in the Stabroek Block offshore Guyana alone indicates the U.S. Geological Survey grossly underestimated the basin’s undiscovered oil resources. There are signs that the sedimentary basin could indeed be the world’s last great offshore oil boom.

  

  In a May 2001 report, the USGS estimated that the Guyana-Suriname Basin held somewhere between 2.8 billion and 32.6 billion barrels of undiscovered oil resources with mean resources of 15.2 billion barrels. The latest oil discoveries, since 2020, point to that number being far lower than the actual petroleum potential that exists in the sedimentary basin. Exxon has found at least 11 billion barrels of technically recoverable oil resources in the Stabroek Block offshore Guyana while nearby Block 58 offshore Suriname is believed to contain as much as 6.5 billion barrels. Oil discoveries in those two blocks alone, out of more than 30 blocks across the Guyana-Suriname Basin, are estimated to total more than 18.5 billion barrels which is substantially higher than the USGS mean of 15.2 billion barrels. The latest discoveries made since the start of 2022 in the Stabroek and Corentyne Blocks offshore Guyana as well as Blocks 58 and 53 in offshore Suriname point to the volume of recoverable oil resources being considerably higher.

  Drilling activity is continuing at a feverish pace in Guyana, where the national government in Georgetown implemented very favorable terms for the Exxon-led consortium operating in the offshore Stabroek Block. Exxon, which is the operator holding a 45% working interest with partners Hess owning 30% and CNOOC 25% respectively, has made over 30 world-class discoveries in the block and is fast-tracking its development. Aside from the Stabroek Block containing over an estimated 11 billion barrels of recoverable oil resources Exxon’s Liza oilfield, which analysts describe as the last major frontier oil play, is pumping 360,000 barrels per day, well above the nameplate capacity of 340,000 barrels.

  Exxon is developing additional assets in the Stabroek Block, notably the Payara and Yellowtail discoveries which on commencing operations, during 2023 and 2025 respectively, will add 470,000 barrels of capacity to the Stabroek Block. That will see Exxon pumping at least 800,000 barrels per day from offshore Guyana by 2025. There is every likelihood that production from the Stabroek Block will keep growing past 2030. In October 2022, Exxon announced the Sailfin-1 and Yarrow-1 discoveries in the block and continues to advance its drilling campaign. Exxon continues to drill in offshore Guyana, with a focus on the prolific Stabroek Block, where the supermajor is targeting the completion of 25 wells by the close of June 2023 to be followed by a 35-well campaign that will be launched when the current plan is completed. There have been discoveries outside of the Stabroek Block. Among the most recent is at the Kawa-1 exploration well by CGX Energy and partner Frontera Energy in the northern section of the Corentyne Block located adjacent to Stabroek. That segment of Corentyne is believed to lie above the same petroleum fairway running through the Stabroek Block into Block 58 offshore Suriname.

  For these reasons, analysts are forecasting Guyana’s production will reach 1.2 million barrels daily by 2027, seeing the impoverished former British colony overtake Colombia to become the third largest oil producer in Latin America and the Caribbean. Guyana’s oil output is forecast by industry consultancy Rystad Energy to reach 1.7 million barrels per day by 2035, seeing the tiny South American country surpass U.S. offshore production and become the world’s fourth-largest offshore oil producer. It will be an ongoing investment by energy supermajors in the South American country of around 800,000 people which will drive this rapid growth. Among the latest to enter the fray in Guyana is British global energy supermajor BP, which in November 2022 won the contract to market Guyana’s share of the petroleum produced from the Stabroek Block, which comes from the Liza Destiny and Unity platforms operating the Liza oilfield.

  It hasn’t been all plain sailing in offshore Guyana despite the Exxon-led consortium’s tremendous success. CGX, which is 77% owned by Frontera and the operator of the Corentyne Block, was forced to delay the drilling of the Wei-1 well targeted for 2.5 miles northwest of Kawa-1. This occurred because a third party did not release the drilling unit. CGX and Frontera are committed to drilling the well which, according to the companies, is to be spudded before the end of January 2023. The partners have confirmed with Guyana’s government that the block’s license is unaffected and remains in force. In August Tullow Oil, which holds a non-operating 37.5% interest in the Kanuku Block, announced it was abandoning operations at the Beebei-Potaro well in the block after it hit water-bearing targets. Repsol, operator and owner of a 37.5% share in the Kanuku Block with the remaining 25% held by a joint venture between TotalEnergies and Qatar Petroleum, has plugged and abandoned the well.

  A tremendously positive development for Guyana’s burgeoning offshore oil boom is Georgetown’s 9 December 2022 announcement it had launched the first licensing round for offshore oil exploration and production. The bid round has a mixture of 14 shallow and deep-water blocks for tender, with submissions closing on 14 April 2023 and contracts expected to be awarded on 31 May 2023. There is a minimum signature requirement of $10 million for shallow-water blocks and $20 million for deep-water blocks. While the terms of the contracts to be awarded to successful bidders will not be as favorable as the agreement secured by the Exxon-led consortium for the Stabroek Block, they will still be on advantageous terms.

  Guyana is one of the lowest-cost jurisdictions in Latin America for energy companies to operate in, and even globally for that matter. The Exxon-led consortium claims that the 120,000 barrel per day capacity Liza Destiny Floating Production Storage and Offloading (FPSO) vessel is pumping petroleum with a breakeven price of $35 per barrel. That has fallen to $25 a barrel for the second FPSO, the 220,000 barrel-per-day Liza Unity, which came online in February 2022. Exxon recently announced that both FPSOs are operating above capacity, see the Liza oilfield pumping 360,000 barrels per day. The energy supermajor continues to develop the Stabroek Block at a rapid clip, expecting production to reach one million barrels per day by 2030. Overall, offshore Guyana is estimated to have an average breakeven price of $30 to $35 per barrel Brent, which will fall further as additional industry infrastructure comes online.

  The sweet light and medium oil grades found in Guyana have a relatively low carbon cost to extract and refine, especially when compared to the heavier sourer grades typically found in South America, which magnifies the country’s competitiveness. Those characteristics further enhance the attractiveness of investing in offshore Guyana and is the reason the former British colony is attracting considerable investment from international oil companies. For these reasons, Georgetown’s inaugural oil auction will garner considerable attention, particularly with Guyana at the top of the leaderboard for yielding the most oil discovered globally since 2015. In fact, aside from the prolific Stabroek Block where Exxon’s swath of world-class finds has yielded 11 billion barrels of recoverable oil resources, it is believed that another 25 billion barrels is waiting to be discovered. With Rystad predicting Guyana will be pumping 1.7 million barrels daily by 2035 the deeply impoverished South American country will emerge as an elite top-five global producer.

  Tyler Durden
  Thu, 12/15/2022 – 20:20

• Could Slumping US Air Travel Demand Be A Sign Consumers Are Tapped Out?
  Could Slumping US Air Travel Demand Be A Sign Consumers Are Tapped Out?

  Delta Air Lines Inc. was one of the latest carriers to warn about slumping travel demand. Several other carriers have also voiced similar concerns.

  “The December month was the off-trend month,” Delta President Glen Hauenstein told analysts and investors on Wednesday at an event in New York. He explained that January travel demand could be significantly better than December and added February is usually a much better month. 

  Hauenstein’s comments followed JetBlue Airways Corp.’s travel warning on Tuesday. Shares of the airline plunged the most in six months after fourth-quarter revenue per seat flown a mile, a metric used to measure fares and passenger traffic, trended toward the low end of guidance.  

  “The expected very strong close-in demand for December reflected in its prior outlook has materialized below expectations,” JetBlue said.

  Separately, Spirit Airlines Inc. reduced its capacity forecast for the quarter due to adverse weather conditions. Alaska Air Group Inc., meanwhile, warned about “softening in corporate travel bookings.”

  Looking at the S&P500 Airline industry, shares are down 16% year-to-date and down 47% from five years ago. The index remains well below pre-Covid levels. 

  

  Multiple warnings about sliding travel demand come as consumers have endured 19 months of negative real wages. Persistent inflation has decimated the household finances of the bottom 90% of Americans. Many folks are draining personal savings and maxing out credit cards in high-rate environments just to buy staples and pay rent. So, their ability to spend money on experiences and travel is sliding.  

  The increasing drumbeat of macroeconomic headwinds because of a Federal Reserve-induced economic downturn is making life for the consumer harder by the month.

  There are signs at TSA checkpoints that travel numbers have been moving lower since the spike during the Thanksgiving holiday.

  

   A good question is whether the consumer will have enough dry powder to go on trips in the first half of next year. 

  Tyler Durden
  Thu, 12/15/2022 – 20:00

• Georgia Restaurant Worker Fatally Shoots Armed Intruder In Self-Defense
  Georgia Restaurant Worker Fatally Shoots Armed Intruder In Self-Defense

  Authored by Lorenz Duchamps via The Epoch Times (emphasis ours),

  An employee at a restaurant in Georgia fatally shot an armed intruder in self-defense after the masked assailant pistol-whipped the worker during an attempted robbery, authorities say.

  

  Warner Robins Police Department Sgt. Justin Clark told Fox News in an interview on Tuesday that the intruder, identified as Joshua Hickey, entered an American Philly & Wings restaurant on Dec. 5 and demanded money.

  “Hickey … had a stolen pistol,” Clark told the network, explaining that he entered the restaurant and demanded money from the manager, which led to a struggle with the employee.

  The worker, who was not identified, suffered a head injury after being pistol-whipped and knocked to the ground, Clark said. After managing to get back on his feet, the employee pulled his own legally owned pistol and fired three shots at Hickey, striking him twice, according to police.

  “Once Mr. Hickey was shot, he fled from the restaurant but only made it about 75 yards before collapsing on the street,” the official said. Authorities transported him to the hospital, but he died of his wounds.

  When Clark was asked in the interview how the worker was doing mentally after experiencing the fatal encounter, he told the anchor the worker “took it pretty hard.”

  “Of course, nobody wants to be in that situation and … he was doing his best to come out of it okay,” the police sergeant said.

  In recent years, the United States has seen overall crime increase after enjoying decades of generally declining crime. In particular, robberies, carjacking, burglaries, and theft, have increased over the past year or so.

  Clark told Fox News that Warner Robins, a city in Houston and Peach counties located in the central part of Georgia, has not necessarily seen an increase in crime, although the area did report “a fair share of crime,” including violent crime and theft.

  When asked to react to major cities reporting an increase in robberies and homicides in recent years, Clark blamed it on staff shortages, adding that it is hard for law enforcement to do their jobs efficiently nowadays.

  “It’s terrible, a lot of it has to do with, you know, officer shortages,” he told the network. “Everybody, including us, is dealing with this. Unfortunately, it is hard to get people to do the job nowadays.”

  Tyler Durden
  Thu, 12/15/2022 – 19:40

• China Downgrades Omicron Risks To Seasonal Cold
  China Downgrades Omicron Risks To Seasonal Cold

  Although easing zero Covid restrictions in China will be met with reopening hardships as infections soar, earlier this week, one of the top medical advisers in the country said that the omicron variant of the virus is no worse than the flu. Now some Chinese cities are downgrading Covid even further, saying it’s the same as the seasonal cold, and there is no need to panic. 

  We pointed out earlier this week that China’s renowned respiratory disease expert Zhong Nanshan downplayed the risks of the omicron subvariant of Covid-19. He said the death rate from omicron is .1%, equivalent to the common flu, and the infection doesn’t reach the lungs, adding most healthy people recover in less than ten days. 

  Zhong’s comments come as Beijing pivots from zero Covid to reopen the economy and prevent further economic deceleration. Officials are now telling people they must learn to live with Covid — a similar move that worked in Western countries. 

  According to Shanghai Morning Post, Guangzhou health authorities have assured the public that Covid is less severe than the flu and no more serious than a seasonal cold: 

  “The virulence of the new coronavirus [Omicron] has now evolved to the level of the seasonal flu, and some are even less virulent than the flu, so you really don’t need to panic,” said Tang Xiaoping, director of the No 8 People’s Hospital in Guangzhou and head of the national key clinical department of infectious diseases.

  China downplaying the severity of Covid from flu to cold is the latest sign Beijing is attempting to calm fears and quickly reopen the economy. And why would they be doing that? Well, check out overnight economic data: 

  Overnight, a slew of economic data led to a decline in business activity in November. Retail sales fell 5.9% last month from a year earlier — the biggest decline in consumer spending since May — caused mainly by lockdowns. 

  The unemployment situation also worsened to 5.7% last month, the highest level in six months. And industrial production only rose to 2.2%, about half of October’s figures. 

  

  China’s economic slowdown, and the acceleration to the downside, is a direct result of disastrous zero Covid policies, hence why Beijing is pivoting hard to reopen. 

  Meanwhile, Feng Zijian, a former deputy chief at China’s Centers for Disease Control and Prevention, recently said the coming Covid wave could infect 80 to 90% of the Chinese population. 

  China is battling its largest outbreak as infections soar. 

  

  And Beijing’s mindset is apparent: reopen the economy, and let the virus spread because there isn’t much officials can do at this point unless they want to crash the economy. 

  Beijing downplaying Covid as no more serious than a seasonal cold is a move to save its crumbling economy and calm public fears. 

  Tyler Durden
  Thu, 12/15/2022 – 19:20

• Documents Uncover Secret Twitter Portal US Government Used To Censor COVID-19 Content
  Documents Uncover Secret Twitter Portal US Government Used To Censor COVID-19 Content

  Authored by Patricia Tolson via The Epoch Times (emphasis ours),

  

  New documents reveal how the United States government used a secret Twitter portal to censor COVID-19 content that contradicted the government’s narrative.

  In its ongoing probe into Twitter’s censorship practices, America First Legal has obtained a fourth set of documents (pdf) exposing a secret Twitter portal, which U.S. government officials used to censor dissenting COVID-19 views in violation of the First Amendment. It’s a revelation Elon Musk described as “extremely concerning.”

  Extremely concerning …

  — Elon Musk (@elonmusk) December 14, 2022

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

  The documents reveal that the Centers for Disease Control and Prevention (CDC) was collaborating with UNICEF, the World Health Organization, and Mafindo to mitigate “disinformation.”

  

  Mafindo is a Facebook third-party fact-checking partner based in Indonesia that is funded by Google, known to have censored searches for keywords like Coronavirus, and COVID-19 as well as blocking information regarding adverse reactions and deaths caused by COVID-19 vaccines. Facebook started its third-party fact-checking program in 2016, working with fact-checkers from around the world who are certified by the International Fact-Checking Network (IFCN) at Poynter to rate and review the accuracy of the content on their platform. According to the IFCN website, they believe “nonpartisan and transparent fact-checking can be a powerful instrument of accountability journalism.” However, among their advisory board, U.S.-based representatives appear to be from liberal-leaning outlets such as the Washington Post and PolitiFact, which is owned by Poynter.

  The Twitter Portal

  On March 10, 2021 email from a US Public Policy employee at Facebook to several CDC employees spoke of the social media giant’s “weekly sync with CDC” and how the CDC was “to invite other agencies as needed.”

  A March 24, 2021 email from the same Facebook employees to CDC employees said “this is my regular FB meeting and they would like to discuss 2 misinformation topics” and “misinformation that was removed.”

  On May 10, 2021, a Twitter employee recommended to a CDC official to enroll in Twitter’s Partner Support Portal, which he described as “the best way to get a spreadsheet like this reviewed.”

  On May 11, 2021, the CDC official enrolled her personal Twitter account into Twitter’s Partner Support Portal, which allowed “a special, expedited reporting flow in the Twitter Help Center.”

   

  A May 19, 2021 Facebook Community Standards manual reveals how the company works with lawmakers and legal council as well as human rights activists in developing policies in their goals of “bringing 50 million people a step closer to vaccinations” while “combatting COVID-19 and vaccine misinformation” and “overcoming global challenges in vaccination.” Methods used to accomplish this included removing “false information that has been debunked by public health experts” and rejecting ads that violate their policies, “including those that discourage vaccination.” They also reduced the distribution of “misleading claims rated by independent fact-checkers.”

  Removed Content

  Posts that Facebook would delete—which the CDC or any other public health authority deemed as “false and likely to contribute to imminent violence of physical harm”—included:

  • Claims that COVID-19 is no more dangerous than the common flu or cold.
  • Claims that COVID-19 cannot be transmitted in certain climates, weather conditions, or locations.
  • Claims that for the average person, something can guarantee prevention from getting COVID-19 or can guarantee recovery from COVID-19 before such a cure or prevention has been approved.
  • Claims that COVID-19 tests cause cancer.
  • Claims about the availability or existence of COVID-19 vaccines.
  • Claims about the safety or serious side effects of COVID-19 vaccines.
  • Claims about the efficacy of COVID-19 vaccines.
  • Claims about how the COVID-19 vaccine was developed or its ingredients.
  • Claims involving conspiracy theories about COVID-19 vaccines or vaccine programs.

  Content deemed to have been “debunked” included among other things, “vaccines cause the disease against which they meant to protect, or cause the person to be more likely to get the disease,” that “natural immunity is safer than vaccine acquired immunity,” and  “vaccines are not effective to prevent the disease against what they purport to protect.”

  Repeat offenders would face restrictions “including (but not limited to) reduced distribution, removal from recommendations” or removal from the site.

  These punishments were conducted despite evidence that the vaccines do not prevent transmission, that vaccines cause adverse effects and even death, and that more vaccinated people are now dying than unvaccinated. Even the CDC admitted in June that vaccinated people could contract the disease again.

  ‘The Coolest Misinformation Fighting Speakeasy’

  In August 2021, the head of Google’s News Lab for the Asia Pacific region (APAC), emailed a CDC Vaccine Confidence Strategist to invite her to the APAC’s “Trusted Media Summit.” The CDC’s vaccine confidence strategist then emailed the event planner for Google’s APAC Trusted Media Summit, noting her excitement over being invited to what she referred to as “the coolest misinformation fighting speakeasy.”

  

  The same CDC employee was then invited to the summit to give a keynote addressing how the CDC was working with WHO and other international organizations to address a so-called “infodemic” and using “social inoculation” to mitigate it.

  

  Read more here…

  Tyler Durden
  Thu, 12/15/2022 – 19:00

• Trump Makes Major Announcement: $99 NFTs
  Trump Makes Major Announcement: $99 NFTs

  After teasing a “major announcement” on Truth social, former President Donald Trump on Thursday unveiled a “limited edition collection” of NFT trading cards, available at collecttrumpcards.com.

  They feature cartoon images of Trump depicted as a superhero, a Hollywood actor, a hunter and other characters.

  

  The announcement was accompanied by a video with Trump pitching the digital assets.

  “This is Donald Trump, hopefully, your favorite president of all time. Better than Lincoln or Washington,” Trump says, before detailing the project.

  According to the website, 45,000 cards will be created in the series, of which 44,000 will be sold. Those who buy will also be entered into a sweepstakes where the will have the opportunity to dine with Trump, play golf with him, and join a Mar-a-Lago cocktail hour.

  Trump’s entry into the NFT market via NFT INT LLC (not affiliated with Trump or the Trump organization), comes at a precarious time for the crypto-based digital art – with volume declining 97% between January and September of this year, and the collapse of FTX – which was a major host of NFTs.

  If the collection sells out, the creators stand to make $4.5 million. It’s unclear what Trump will make off the sales, if anything.

  Tyler Durden
  Thu, 12/15/2022 – 18:40

• The Age Of Amnesia
  The Age Of Amnesia

  Authored by Jeffrey Tucker via The Epoch Times,

  The main defense of Anthony Fauci in his legal deposition this month was pretty simple: he forgot. He said that he couldn’t recall nearly 200 times and versions of that many more. He said that he was so busy running his huge agency plus shepherding vaccines that he couldn’t possibly remember this or that email implicating him in a censorship scheme. He gets thousands of emails a day and there is no reason to think any in particular would grab his attention.

  

  It’s all a bit implausible because we saw him on TV several times a day for the better part of three years. He was the hard-working actor out there. I do TV and interviews several times per week but I try my best to throttle them back and turn many down simply because they truly drain away energy and focus from other work. In short, they are all-consuming. The notion that he neglected issues of message in favor of serious science is an incredibly obvious strain on credulity.

  So what was the point of this line of answer? Yes, he wants to save his skin. No question about that. But it occurs to me that there is another point too. He wants to model for the nation and the world how to think about the whole of the last three years. His view is that everyone should forget about it.

  You have surely noticed this happening ever since the opening following lockdowns and the rest. We are all just supposed to forget. We are supposed to move on. I’ve heard already a thousand times that we never had a lockdown. There seems to be little in the way of official memory of two years of school closures or the shutting of churches on holidays.

  We are being told to forget about the medical mandates that displaced millions from their jobs. We had relatives die and we couldn’t attend their funerals but we are supposed to forget about all that. I see claims daily that the censorship never really took place or wasn’t that bad really, so we should shut up already.

  What about all the politicians who violated stay-at-home orders, went on vacations or got hairstyles, or were photographed partying without a mask even as they imposed them on everyone else? Hey, mistakes were surely made but let’s not make too big a deal of it.

  Indeed, it was amazing to me how the most egregious and global attacks on human liberty in the name of public health were very quickly memory-holed by the major media, which we now know was the answer to public health agencies themselves the entire time. We all stood by in shock and wondered if we were the crazy ones.

  That, after all, is the whole point of Orwell’s Memory Hole, the invention of an alternative history of the recent past that contradicts our own memories and invites us to believe that we are crazy or obsessed or otherwise thinking about things that truly do not matter. This is why the Memory Hole was so important in Orwell’s book. It becomes a means by which the population is controlled in its thinking and therefore in its psychological capacity to resist the next round of impositions.

  This is why cultivating a solid memory is so crucial to the preservation of the good and civilized life. The barbarians all around us are constantly inviting us to forget so that we do not learn lessons and do not apply the lessons we learn. Instead we become blank slates for the ruling class to write on daily and then we are more likely to believe them. Better to never learn lessons at all. If we must learn something, it should be along the lines that we need more control and more acquiescence in the future.

  Movements that truly seek to prevent horrors of the past must also seek to preserve memory. This is why there are Holocaust Museums, for example, to help us understand experiences that were not ours but from which we can still learn. Indeed, this is the whole point of learning in general, to extract wisdom from people and events that have come before in order that we can be better prepared to build a future.

  People who invite us to forget are more than likely up to no good. It’s not just that they want to replace a real narrative with a false one. They want history to start over at any given moment so that we are more easy to manipulate in the future.

  Perhaps this is why basic memory skills have been so de-emphasized in early childhood education for so long. It’s a true tragedy because young people do have a remarkable capacity for memorization. They might lack the ability to think abstractly or process difficult strings of logic but they do have the mental power to hear and repeat, which is why a classical education puts so much emphasis on this and probably why modern education regards memorization as a waste of time.

  The urge to forget plays out in strange ways in our time. When accounts are banned on YouTube, Twitter, or Facebook, so too are the archives of those accounts blown away so that we can longer access information about the recent past. That is intentional, otherwise the banning would be a mere blocking of new content. No, the whole point is to wipe out what we know or think we know.

  This is one of the tragedies of the Trump ban on Twitter, for example. We lost a narrative record over years of important data points, making even writing the history of our times more difficult. So when the account came back, so too did our memories and then we could scroll through and verify a version of events that is closer to reality rather than the fake history we were being told to accept from on high.

  We’ve been through almost three years in which powerful elites have done their best to wipe out history. I recall the chills I got down my spine when major media organs began putting trigger warnings on links older than a few months. The clear message was: this is no longer valid or reliable because things have surely changed. This is also why Fauci kept saying that the science has changed. It was a call for us to forget all the statements that contradict his latest statements.

  In this way, we have entered into an age of amnesia with a ruling class that wants everyone to forget the wisdom of the past and even the events of recent history, to forgive but mostly to forget and move on like good little pawns in their game. Just do what we are told and forget everything else.

  We can all resist this little game. We can access Archive.org and, more importantly, we can consult the wisdom of the ages through books and poetry and religious teachings. If civilization is to survive the onslaught, it will be because we choose to remember and act on those memories in defiance of every demand that we forget.

  Read more here…

  Tyler Durden
  Thu, 12/15/2022 – 18:20

• IMF Warns 5% To 20% Drops In Asian Property Prices Could Be On The Horizon
  IMF Warns 5% To 20% Drops In Asian Property Prices Could Be On The Horizon

  A new report from the International Monetary Fund predicts a sharp drop in property prices across Asia.

  The report points out that home prices are “flattening” across the continent coming out of the pandemic boom that the region experienced. With rates rising, risks of “significant corrections in a number of markets” are profound, according to Nikkei. 

  The report set out “to highlight challenges in Asian housing markets linked to fast price rises especially in the advanced economies since COVID, and more broadly including many EMs in the period leading up to COVID,” per the IMF.

  It also aimed “to draw policy lessons on how to manage stability aspects through macroprudential and other policies and how to support affordability through structural policies and targeted government support.”

  The report notes concerns about affordability due to the spike in prices during the pandemic. South Korea, for example, saw a rise in inflation-adjusted prices of about 20% in 2021. Places like Japan and Singapore saw prices rise about 10% while Thailand saw price spikes of about 5%. 

  

  Now the issue is cooling demand as a result of rising rates. The pandemic bubble combined with the quick whipsaw of spiking rates could create drops “on the order of 5% to 20% in some countries,” Nikkei wrote. 

  Kenichiro Kashiwase, co-author of the IMF study, said: “Our study basically indicates that in order to alleviate, or address, housing affordability, governments can provide targeted, for example, mortgage insurance or mortgage guarantees.”

  Krishna Srinivasan, director of the IMF’s Asia and Pacific department, commented this week: “The current phase looks like another turning point for many countries, with the post-pandemic house price surge now increasingly at risk of reversing in the context of slowing growth and rising interest rates.”

  “As we look towards 2023, we see once more that the global environment is fragile, with storm clouds on the horizon. We expect 2023 to be worse than 2022. Inflation is still uncomfortably high and financial conditions are tight, so things are looking pretty not so good.”

  You can read the entire IMF policy paper, called “Housing Market Stability and Affordability in Asia-Pacific”, here. 

  Tyler Durden
  Thu, 12/15/2022 – 18:00

• Navy Unleashes Controversy By Naming Next Warship USS Fallujah
  Navy Unleashes Controversy By Naming Next Warship USS Fallujah

  Authored by Kenny Stancil via Common Dreams,

  Peace advocates responded with disgust to the Navy’s decision to name its new warship after the two battles of Fallujah, during which U.S. troops massacred Iraqi civilians.

  “The future America-class amphibious ship will be named the USS Fallujah, LHA-9,” Navy Secretary Carlos Del Toro announced Tuesday in a speech at Marine Barracks Washington, D.C. “The future USS Fallujah will commemorate the first and second battles of Fallujah, American-led offenses during the Iraq War.” Del Toro called it “an honor for me, and for our nation, to memorialize the Marines, the soldiers, and coalition forces that fought valiantly and those that sacrificed their lives during both battles of Fallujah.”

  

  U.S. troops slaughtered approximately 600 Iraqi civilians—including more than 300 women and children—along with 200 insurgents during the First Battle of Fallujah. Code-named Operation Vigilant Resolve, the battle was launched in April 2004 to avenge the deaths of four Blackwater contractors. Twenty-seven U.S. soldiers were killed during the retaliatory siege.

  The Second Battle of Fallujah, known as Operation Phantom Fury, was fought from November to December 2004 to recapture the city from insurgent forces. In the process, U.S.-led occupation forces killed between 581 and 670 civilians across nine neighborhoods, according to Iraq Body Count.

  “With over 100 coalition forces killed and 600 wounded, Operation Phantom Fury is considered to be the bloodiest engagement to the Iraq War and the fiercest serving combat involving U.S. Marines since the Vietnam War’s battle of Hue City,” said Del Toro. “This namesake deserves to be in the pantheon of iconic Marine Corps battles, and the LHA’s unique capabilities will serve as a stark reminder to everyone around the world of the bravery, the courage, and commitment to freedom displayed by those who fought in those battles.”

  Critics called the Navy’s commemoration of the battles of Fallujah “shameful.”

  “Some of the most heinous U.S. war crimes committed during the Iraq War took place in the city of Fallujah,” The Intercept‘s Jeremy Scahill, who reported from Iraq during the U.S. invasion, wrote Wednesday on social media.

  Jaw. Floor. https://t.co/JqG8XMdeuL

  — Peter Maass (@maassp) December 14, 2022

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

  In a 2007 appearance on the Bill Moyers show, Scahill described the siege of Fallujah as “one of the most brutal and sustained U.S. operations of the occupation,” telling Moyers that the Pentagon’s murderous response to the killing of Blackwater contractors set a dangerous precedent. In 2016, journalist Hope Hodge Seck wrote about what she called “the whisper campaign for a USS Fallujah.” She tweeted Tuesday: “At the time, it seemed unlikely to ever happen…But now it has.”

  Construction on the 45,000 metric-ton vessel, the first U.S. warship named after a post-9/11 battle, is set to begin this month at the Mississippi-based Ingalls Shipbuilding, which secured a $2.4 billion contract in October.

  Civilians in Fallujah, meanwhile, continue to suffer from a sharp rise in birth defects that has occurred in the wake of the 2003 invasion.

  Tyler Durden
  Thu, 12/15/2022 – 17:40

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• 'A Dark Alliance': Musk's Twitter Files Exposed The Fifth Estate
  ‘A Dark Alliance’: Musk’s Twitter Files Exposed The Fifth Estate

  Authored by Mike Solana via PirateWires.com,

  Dangerous alliance. In 1787, Edmund Burke said there were “Three Estates in Parliament; but, in the Reporters’ Gallery yonder, there [sits] a Fourth Estate more important than they all.” The notion of some vital power beyond our government was imported to the New World, and today constitutes a core belief of the American liberal: there is no free people, we’re often told, without a free press independent of congress, the courts, and our president. But throughout the 20th Century thousands of media outlets gradually consolidated, and by the dawn of our internet era only a few giants remained. These giants largely shared a single perspective, and in rough agreement with the ruling class the Fourth Estate naturally came to serve, rather than critique, power. This relationship metastasized into something very close to authoritarianism during the Covid-19 pandemic, when a single state narrative was written by the press, and ruthlessly enforced by a fifth and final fount of power in the newly-dominant technology industry.

  It was a dark alliance of estates, accurate descriptions of which were for years derided as delusional, paranoid, even dangerous. But today, on account of a single shitposting billionaire, the existence of the One Party’s decentralized censorship apparatus is now beyond doubt.

  A couple weeks back, alleging proof Twitter acted with gross political bias, and in a manner that influenced U.S. elections (!), Elon Musk opened his new company’s internal communications to a small handful of journalists. They set immediately to breaking a series of major stories that have rewritten the history of Trump-era tech. Long story short, Twitter leadership lied to the public, relentlessly, for years, and everything the most paranoid among us ever said about the platform was true. “Trust and safety” is a euphemism for political censorship, with “expert” teams comprised almost exclusively of the most radical, joyless grievance studies majors you ever met in college. Their goal is to reshape American politics by dominating the bounds of what the public is permitted to consider American politics. In these efforts, they have mostly been succeeding.

  On December 2nd, Matt Taibbi shared conversations from the company’s “trust and safety” team that led to Twitter’s suppression of the New York Post’s infamous Hunter Biden laptop story. While interesting, Taibbi’s most notable revelation came almost as a side: both major political parties, as well as the White House, maintained direct lines of communication with Twitter, which they used to formally request content be removed from the platform. The company responded enthusiastically to many of these requests, and the examples we have (for now) come from the Democratic Party. Critics have been quick to point out Trump was in the White House at the time, though less interested, for some reason, in what — if anything — he removed from the site.

  On December 6th, Bari Weiss and her colleagues reported out proof of Twitter’s secret blacklists, in which both specific topics and, more problematically, people were de-amplified by the “trust and safety” team. The blacklisting was done for a nebulous host of reasons that generally amounted to something like ‘this feels dangerous.’ Danger was, of course, defined by partisan operatives, and exclusively targeted right-coded positions. Skepticism of radical gender ideology, distrust of public Covid policy, and almost anything having to do with the integrity of our last election were at the top of the list.

  Separate from any opinion concerning whether such topics, or the purveyors of such topics, should have been “shadow banned,” the revelation that they were is immensely important on account of Twitter’s censors, with their many supporters in the press, have denied the existence of these tools for years.

  Finally, over the last few days, Taibbi, Michael Shellenberger, and Bari have all reported out pieces of Donald Trump’s deplatforming, which is easily the most famous digital unpersoning in history. It is also the least compelling story in the series. While it’s good to finally know exactly what happened, it really just was what everyone assumed: Trump was not banned for violating policy. Trump was banned because Twitter employees, who donated literally 99% of their political contributions to the Democratic Party, demanded it be done regardless of their own rules.

  Altogether, the Twitter Files — an ongoing story — paint a portrait of clear and inevitable partisan bias at one of the most dominant speech platforms in history. A small handful of very left-wing executives, who naturally perceived most opinion right of center as dangerous, worked tirelessly to limit those opinions from view. Empowered to censor “unsafe” content, and protected by a team of people who shared their political orientation, the executives produced, in a legal and decentralized manner, a key component of our defacto state censorship apparatus. While we don’t know for sure this is also happening at Google, Meta, or TikTok (which is for some reason still allowed to operate in this country), I think it’s a safe bet we’re looking at an industry-wide affliction.  

  But I do have questions.

  Where is the full list of shadow-banned accounts? Which political campaigns, specifically, communicated with Twitter, and what specifically was taken down? What about requests from foreign governments? What about requests from our own government? We need to know which of our government agencies, if any, had content removed from the platform, and we need to know the nature of this content. Taibbi alluded to Trump’s White House — did someone from the Trump administration request a takedown? Who made the request? Who received the request? Was it answered? What, if anything, was removed?

  The Trump line of questioning is, in particular, something you might assume attractive to the media, which has waged all-out war on the populist clown king for the last seven years. Alas, the press seems broadly disinterested. Is this because they don’t believe the former president ever made such requests, or is their lack of interest rather stemming from a fear of validating a major story most of them are currently trying to frame — for their own obvious political reasons — as not worth reading?

  A brief selection of positions from our cherished Fourth Estate: This entire story is a “dud” (The Washington Post) — no bombshells here! (Forbes). The Twitter Files, in which a handful of committed partisans enthusiastically censor large swaths of the conservative base, including a former president, actually prove the company was not politically biased. It is, however, now biased against Democrats (New York Magazine). Elon’s exposé is a flop that doesn’t matter. It has also placed multiple “trust and safety experts” in mortal danger (The Verge, predictably). Then, my favorite: it is good to finally see the blacklist tools I have been curious about for many years, which we have by the way always known existed, and therefore don’t matter (The Atlantic).

  The charge of shadow banning evoked uniquely loud jeering from the press, including Charlie Warzel in particular, a man formerly of the position “Twitter isn’t shadow banning Republicans.” Now, in the face of evidence the company absolutely shadow banned Republicans, the official position is we are using the term “shadow ban” incorrectly.

  It’s a game of semantics, in which the public is dragged through the exhausting, useless question of how much invisible speech suppression, precisely, constitutes a “real” shadow ban, rather than the glaringly important questions of both ethics and, frankly, safety. In the first place, is it right to run a decentralized censorship apparatus, and to make your rules invisible? In the second, what happens to a free country when the bounds of acceptable speech are set by a small cabal of unelected partisan cops? Because my sense is the answer isn’t “freedom.”

  There have been a few notable, if cautiously dissenting opinions from prominent voices in media. Buzzfeed’s Katie Notopoulos, the Los Angeles Times’ Jeff Bercovici, and the New York Times’ Mike Isaac all took somewhat risky positions in favor of transparency, apparently no longer in vogue among journalists, with Jeff explicitly acknowledging the important nature of the revelations. But I’ve only seen one actual piece, drafted and published by a reasonably mainstream media entity, embrace any aspect of the Twitter Files.

  Anthony Fisher, an opinion editor at the Daily Beast, danced around the subject, and awkwardly tried to obscure his overall agreement the story mattered behind many paragraphs demonstrating his conservative-hating bonafides. But in addressing Twitter’s censorship he did include the following important line:

  And that lesson is “Don’t trust (or demand) billionaire tech bros to be the arbiters of truth and news.”

  It was a flashback to the position most journalists and activists shared in the days before Donald Trump. Unfortunately, it wasn’t long before they realized they had a political ally in tech industry hall monitors, and set about a national power grab. In any case, if you were to strip the above position from all its obnoxious tribal language, it would really just be: no few people should control the bounds of acceptable discourse. I agree. But narrowly focused on the “tech bro,” the point not only betrays a bias, but misses a defining aspect of technology.

  The Fifth Estate is a fundamentally different kind of power. It’s more difficult to consolidate than media, and more difficult to control than even our government divided by design. Its impact is also far more difficult to predict. This is because technology is above all things defined in terms of newness, which not only makes it disruptive of pre-existing power, but destructive of itself — a sort of anti-power that only guarantees change. The true failsafe. Our ultimate reset. Tremendously empowering of tyranny in times of stagnation, technology is also our most powerful weapon against tyranny in times of innovation.

  While many tech giants have gone the way of media in consolidating power, centralizing, and aligning with the state, the future of technology is always change. From encrypted chats and blockchain to artificially intelligent search, every tech giant that amassed power over the last two decades will be facing existential threats in the years to come — not only from the government, but from the industry.   

  In terms of Twitter, Elon is already leveraging Fifth Estate properties, and not by employing current tools to amplify his own opinions (an emerging conspiracy). He is iterating product more rapidly than we’ve seen from any major, consumer-facing tech company in years. The trial and error here has largely been ridiculed by people who have never built a technology company. But while detractors are obsessed with his censorship abilities, Elon’s platform experiments are the things actually capable of root-changing the national discourse. The medium is the message, and the medium is evolving. Whatever works on Twitter will be cloned. The bounds of acceptable discourse will change, and none of this will have anything to do with Elon’s spicy tweets.

  But about those spicy tweets — 

  As the former lords of Twitter descend into hysterics with outlandish comments declaring Elon a Nazi, or a proponent of the QAnon conspiracy, or whatever other bit of unhinged loser bullshit, he faces two significant threats. First, he’s clearly made an enemy of every other major fount of power, including in particular the Fourth Estate. This will impact all of Elon’s companies, as they all require support from the government and public, and the opinions of our government and public are still shaped, to a large extent, by the media. It’s no coincidence most powerful tech executives, from Mark Zuckerberg and Jeff Bezos to Jack Dorsey, share a carefully-crafted language of neutrality. This air of neutrality is how a king behaves, because the air of neutrality is how a king survives. In flaunting his power, rather than obscuring it, Elon is asking to be attacked, and his enemies are happy to oblige, even while more dominant platforms go unbothered.

  Something like 80 million Americans are using TikTok, a company hopelessly compromised by the Chinese Communist Party. Do you even know the name of its CEO?

  

  For a man who controls the bounds of acceptable speech for a third of the country’s adults, he sure doesn’t seem especially interested in speaking.

  Elon’s second danger is the far more formidable danger of himself. What the Twitter Files prove beyond doubt is censorship in the age of social media is power — a real and dangerous power that corrupts.

  Last year, Dorsey appeared before Congress, and declared neither he nor anyone else, and certainly not anyone in government, should be allowed to set the bounds of acceptable speech for the entire country. But with no viable alternative, someone does need to bear the ring. In leaked texts from the recent Twitter legal saga, it’s clear Jack believed Elon a worthy steward of this tremendous power, and, for what it’s worth, I agree. But provided the nation remains free, the rules of the Fifth Estate are immutable. Power comes in dramatic upward swings, and resets the status quo. It will not — it can not — last forever. So change the world, but be mindful of temptation, and make good use of your god mode powers while you have them. Because they never last forever.   

  

  *  *  *

  Long story short, Pirate Wires exists because people subscribe. If you’re into what we’re doing here, drag your friends on board for a free sub, and if you haven’t yet already: Subscribe, or die.

  Tyler Durden
  Wed, 12/14/2022 – 23:40

• Salt Lake City Faces Toxic Dust Storms Amid Declining Water Levels
  Salt Lake City Faces Toxic Dust Storms Amid Declining Water Levels

  Salt Lake City, Utah, was already in trouble. Between vast open-pit mining operations in the surrounding areas, oil refineries, and a unique mountain range that traps pollution in a winter ‘inversion layer,’ the cities surrounding the Great Salt Lake have grappled with air quality issues for years.

  “We have 2.5 million residents along the edges of the lake,” said Kevin Perry, a University of Utah atmospheric scientist researching the Great Salt Lake dust. “These dust plumes come off and make the air unhealthy regardless of what’s in it.“

  Now, as NBC News reports, declining water levels in the Great Salt Lake have created new challenges as dust laden with toxic metals threaten the region.

  

  Since Mormon pioneers settled the valley in the mid-1800s, the lake’s volume is down 67% – thanks to a combination of irrigation projects, which account for roughly 75% of the loss, and the ongoing megadrought, which accounts for the remainder of the drop, according to research from Utah State University.

  This isn’t an issue caused by climate change, according to the report. Residents are simply consuming too much water for agriculture, residential use and industry, from overtaxed rivers that feed the terminal lake. Humans diverting water has reduced the Great Salt Lake by around 11 feet – while increased evaporation has added to the problem by around half-a-foot.

  During dust storms, host spots on the lake will pop and emit swirls of dust, collecting particles less than a fraction of the width of a human hair, darkening the sky and propelling them into communities nearby. The smallest particles can remain airborne for weeks at a time. 

  The lake bed contains pollutants like arsenic, distributed widely across the surface, which could be an indication that some of it occurs naturally, Perry said.  

  The lake has long been a catchment for industrial pollution. Each area of the lake has its own recipe of toxic metals and other substances, fed by different polluting industries nearby. Researchers are concerned that what’s been stored in the lake will soon be carried on the wind into Salt Lake City and other neighboring communities. -NBC News

  And as time goes on, the situation is set to get worse.

  In 2018, roughly 9% of the lakebed was a source of dust – with a protective crust covering much of the rest. But wind and weathering is breaking that down.

  “The longer the lake bed is exposed, we expect that to increase. It could increase to 24% to 25% of the lakebed,” said Perry.

  Lawmakers are starting to take notice – but in typical fashion, it’s too little, too late. They have passed a series of bills designed to revamp how Utah uses its water. In November, Gov. Spencer Cox closed the basin to new water appropriations. A step in the right direction after years of neglect.

  “The entire state has an unhealthy relationship with water,” said Perry. “We need to start living like we live in the desert.“

  

  Researchers looking into the toxic dust have been examining exactly where it goes – including whether it’s easily absorbed into people’s bodies, and what risks it may present.

  In 2018, scientists with the US Geological Survey placed 18 dust traps throughout the Salt Lake City area – where they trapped dust from the lake, local construction, and local deserts, for a period of several months.

  What they found was concerning. At every site, arsenic concentrations exceeded EPA levels of concern for residential soil. One site had a concentration 35x higher.

  “We’ve got some bells going off,” said USGS hydrologist, Annie Putman, who led the study. “The pieces are there to think we should be concerned.”

  The Salt Lake City area has long had a reputation for pollution gong back decades. Out of 888 US metro areas, the EPA ranked it the ninth-worst on a 2020 risk screening model that ranks health risks from toxic chemical releases. Last year it ranked 20th for short-term particle pollution by the American Lung Association.

  

  “If you look at Salt Lake, it’s essentially a bowl and the dense emissions are in the lower elevations,” said John Lin, an atmospheric research professor at the University of Utah, who noted that pollutants such as black carbon, nitrogen dioxide and other particulate matter “tend to be higher in lower-income neighborhoods.”

  Residents in the lower portion of the ‘bowl’ are inundated in a pea soup of refinery emissions, car exhaust and other pollutants.

  The researchers suspect that urban, diverse neighborhoods are receiving much of their dust and the toxic metals within that dust from local sources — nearby polluters or construction projects. It’s also possible that dust from the Great Salt Lake and other nearby playas picks up local pollutants from nearby mines, refineries and pesticides as dust travels into the city. 

  Meanwhile, researchers found the highest levels of dust — and metals — in suburbs outside urban Salt Lake City. Researchers suspect communities north of the city, including areas such as Syracuse, Ogden and Bountiful could be receiving the majority of the dust that blows off the lake. In early October, less than a mile from what was once lakeshore, workers were hammering away to frame new housing. -NBC News

  “It irritates the eyes and gives me sinus infections,” said 58-year-old George Casillas, who’s lived on the west side for 15 years. “It’s hard to be trapped in the valley.”

  “There’s so much sediment and so much trapped for so long. It’s pulling up stuff that’s been trapped for 100 years,” he continued. “Are there carcinogens or other health risks? That’s what I’m worried about.“

  Tyler Durden
  Wed, 12/14/2022 – 23:20

• Musk Unexpectedly Sells $3.6 Billion In Tesla Stock In Last 3 Days
  Musk Unexpectedly Sells $3.6 Billion In Tesla Stock In Last 3 Days

  There had been a quiet at first, and then increasingly louder chorus of disapproval among Tesla bulls at the relentless decline in the TSLA stock price, which someone was aggressively selling in recent days and slashing nearly a quarter of its value since the start of the month (and more than 60% from its all time high just over a year ago).

  It turns out that at least one of the whale sellers was none other than Elon Musk himself who – just days after losing the world’s richest man rank to French luxury titan Bernard Arnault – late on Wednesday filed a Form 4 showing he sold nearly 22 million shares, or some $3.6 billion worth, of TSLA stock between Nov 12 and Nov 14.

  

  The sales, which took place at a price between $176.702 and $156.14, brought Musk’s total TSLA holdings down from 445.617 million to 423.622 million, a decline of 21.995 million shares.

  The week’s sale, which follows a similar dump one month ago when during a 4 day period from November 4-8, Elon Musk sold 19.5 million shares or roughly $4 billion in TSLA stock, means that the Tesla – and now Twitter – chief executive has sold more than $39 billion in Tesla shares since the company’s stock peaked in November 2021. Tesla, still the world’s largest auto maker by value, has lost more than $700 billion in market value since that all-time high.

  It wasn’t clear what prompted Musk to sell additional Tesla stock, and the company didn’t respond to a request for comment from the WSJ, but on Tuesday, in what may have been a foreshadowing of what’s to come, Musk tweeted, “At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates.”

  Musk, of course, has lots of debt from his completed acquisition of Twitter in October. While Musk provided $33.5 billion in equity financing to pay for the deal, Twitter also took on around $13 billion in debt as part of the takeover, in which the company went private. According to reports from Bloomberg, the banks which are stuck with the debt and unable to syndicate it to willing buyers, offered to lower the interest on some of the more expensive tranches if Musk is willing to exchange the Twitter debt with a personal margin loan (backed by far more valuable Twitter stock).

  Musk tried for months to get out of the Twitter deal but failed. To raise enough cash for the purchase, he offloaded more than $15 billion in Tesla shares — about $8.5 billion in April, then another $6.9 billion in August. In November, after vowing he was done selling, he unloaded another $3.95 billion of his stake.

  Besides Musk’s sales, TSLA stock has been hit by concerns that rising interest rates will make the cars more expensive for consumers while demand issues in China, Tesla’s largest market after the US, have reportedly depressed local production.

  Twitter now faces annual interest payments approaching $1.2 billion, which could get even more expensive given that the interest rates on about half of that debt aren’t locked in and will rise with the market. To cut costs, Twitter not only fired more than half of its employees, but according to the NYT has not paid rent for its San Francisco headquarters or any of its global offices for weeks; Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Musk’s takeover, and has also discussed the consequences of denying severance payments to thousands of people who have been laid off since the takeover.

  Musk’s recent sales will bring his stake in the company to roughly 13%; he remains the company’s largest shareholder by a wide margin. Musk’s net worth was $160.9 billion as of Wednesday’s close, ranking No. 2 on the Bloomberg Billionaires Index after France’s Bernard Arnault. His fortune has dropped by $109.4 billion this year.

  Tyler Durden
  Wed, 12/14/2022 – 23:01

• LA's New Mayor Declares 'State Of Emergency' Over Homelessness
  LA’s New Mayor Declares ‘State Of Emergency’ Over Homelessness

  After making it a central part of her campaign, Los Angeles’ new mayor Karen Bass declared homelessness a ‘state of emergency’ in the city.

  

  The declaration “will recognize the severity of Los Angeles’ crisis and break new ground to maximize the ability to urgently move people inside,” according to a statement from Bass’ office, on the same day she visited the city’s Emergency Operations Center, ABC News reports.

  I just declared a state of emergency on homelessness to unlock every tool and authority at our disposal to bring unhoused Angelenos inside.

  This is a matter of life and death and that’s exactly how my administration will treat it.

  It is a new day in Los Angeles.

  — MayorOfLA (@MayorOfLA) December 12, 2022

  According to a three-day study conducted earlier this year, just under 42,000 people experienced homelessness in the city of LA, according to the Greater Los Angeles Homeless Count by the Los Angeles Homeless Services Authority (LAHSA).

  At least 69,144 people experienced homelessness in the same-named county – a 4.1% increase over 2020, and a 1.7% rise in the city itself.

  Local COVID-era policies like eviction moratoriums and rentals assistance, as well as federal assistance have helped people stay housed throughout the pandemic, according to LAHSA.

  However, many of those policies have since ended or are about to end, and it’s left unhoused and people facing housing insecurity without a safety net, LAHSA reports. -ABC News

  As a House representative, Bass was instrumental in funding millions for long-term shelter solutions for homeless residents, job training and career development programs. She also backed substance abuse programs.

  

  “These investments to combat homelessness, improve community safety and assist families with the increasing costs of living in our congressional district are coming at a crucial time,” she said in a March statement. “Now that we have these new allocated funds on the federal level, we have to ensure that they reach our communities as soon as possible.”

  During her campaign, Bass vowed to “House 15,000 people by the end of year one, dramatically reduce street homelessness, end street encampments,” and “lead on mental health and substance abuse treatment.”

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

  Tyler Durden
  Wed, 12/14/2022 – 22:40

• Ron Paul: Mother Of All Economic Crisis Will Lead To "Social Unrest & Violence"
  Ron Paul: Mother Of All Economic Crisis Will Lead To “Social Unrest & Violence”

  Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

  Nouriel Roubini, a former advisor to the International Monetary Fund and member of President Clinton’s Council of Economic Advisors, was one of the few “mainstream” economists to predict the collapse of the housing bubble. Now Roubini is warning that the staggering amounts of debt held by individuals, businesses, and the government will soon lead to the “mother of all economic crises.”

  Roubini properly blames the creation of a debt-based economy on the near-or-at-zero interest rate and quantitative easing policies pursued by the Federal Reserve and other central banks. The inevitable result of the zero-interest and quantitative easing policies is price inflation wreaking havoc on the American people.

  The Fed has been trying to eliminate price inflation with a series of interest rate increases. So far, these rate increases have not significantly reduced price inflation. This is because rates remain at historic lows. Yet the rate increases have had negative economic effects, including a decline in the demand for new homes. Increasing interest rates make it impossible for many middle- and working-class Americans to afford a monthly mortgage payment for even a relatively inexpensive home.

  The main reason the Fed cannot raise rates to anywhere near what they would be in a free market is the effect it would have on the federal government’s ability to manage its debt. According to the Congressional Budget Office (CBO), interest on the national debt is already on track to consume 40 percent of the federal budget by 2052 and will surpass defense spending by 2029! A small interest rate increase can raise yearly federal debt interest rate payments by many billions of dollars, increasing the amount of the federal budget devoted solely to servicing the debt.

  The federal government’s fiscal picture is made worse by the fact that the Social Security “Trust Fund” will begin to run deficits by 2035 while the Medicare Trust Fund will run deficits by 2028. The looming bankruptcy of the two major entitlement programs, combined with the unwillingness of most in Congress to reduce either welfare or warfare spending, puts the Fed in a bind. If it raises rates to the levels needed to really combat price inflation, the increase in interest payments will impose hardships on individuals and businesses, as well as raise federal interest payments to unsustainable levels. This will cause a major economic crisis including a government default on its debt causing a rejection of the dollar’s world reserve currency status. Also, if the Fed continues to facilitate federal deficits by monetizing the debt, the result will be an economic crisis caused by a collapse in the dollar’s value and rejection of the dollar’s world reserve status.

  

  The crisis will lead to social unrest and violence, as well as increased popularity of authoritarian movements on both the left and the right. This will lead to government crackdowns on civil liberties and increased government control of our economy. The only bright spot is this crisis will also fuel interest in the ideas of liberty and could even help bring about a return to limited, constitutional government, free markets, individual liberty, and a foreign policy of peaceful trade with all. Those of us who know the truth have two responsibilities. The first is to make the necessary plans to ensure our families can survive the forthcoming turmoil. The second is to do all we can to introduce as many people as possible to the ideas of liberty.

  Tyler Durden
  Wed, 12/14/2022 – 22:35

• Epstein Island: Newly Unsealed Evidence Of Abuse
  Epstein Island: Newly Unsealed Evidence Of Abuse

  Authored by Techno Fog via The Reactionary,

  We have newly unsealed documents – including the depositions of Ghislaine Maxwell and one of her victims – revealing new details on the extent of the abuse and victimization that took place by Jeffrey Epstein. Those filings come from Giuffre v. Maxwell, a civil case filed against Maxwell in 2015 in the New York Southern District.

  Some of the broader allegations have already been made public. Sarah Ransome, who accused Epstein and Maxwell of abuse that took place during her early 20s, settled a civil lawsuit against them in 2018. Ransome has publicly described some of the abuse. And there have been reports on what transpired at Little St. James, often referred to as Epstein Island.

  

  Let’s get to the new details, starting with the testimony of Ransome, available here. She actually lived one of Epstein’s apartments in 2006 with a few other girls. During that time, she worked for what she described as an “agency” which arranged paid dinners with wealthy clients: “I was paid to spend dinner with a gentleman.” Whatever happened after dinner with the client was done on her “own accord” and “after that time period had finished.”

  Ransome was introduced to Epstein by a female associate of his (her name is still redacted), who described Epstein as a wealthy “philanthropist” who “really cares about people” and “really wants to help them.” She was open to meeting Epstein because she was struggling financially. Soon after meeting Epstein, Ransome was invited to travel on Epstein’s plane to Epstein Island. She was told it “was going to be a girls’ week” and they would have “so much fun”:

  Q. How did the flight meeting become arranged, if you know?

  A. So it was pretty a last-minute thing. phoned me up and said that Jeffrey Epstein would very much like to have me go to his island. It was going to be so much fun, it was going to be a girls’ week, there were lots of other girls going, we were going to have so much fun, etcetera, etcetera, etcetera.

  What happened on the flight – her first flight with Epstein – must have been shocking to Ransome. She described what happened after they took off:

  “The rest of the passengers in the — I think it’s towards the front of the plane where all the seats are — we all — all the guests were — fell asleep. I pretended to be asleep.

  Jeffrey then went – Jeffrey went to his — was in his bed on the plane, having open sex with for everyone to see, on display.”

  Ransome would eventually give massages to Epstein at the Island. She had been told that Epstein “loves women, loves getting massages” and that this “was a nice way to make extra cash.” At first, the massages were relatively normal. Then then escalated to the type of “massage” Epstein is now notorious for – much of which was done without Ransome’s consent.

  She described her experiences at Epstein’s Island as being constantly surrounded by “beautiful young people” and that there “were always girls” there to visit “Jeffrey and Ghislaine.” Ransome also gave a description of the Island as having multiple buildings – a main house and then various buildings around the Island for Epstein and his guests:

  “like little shelter things where him and his guests used to have sex with the girls, like beds set up for instant sexual entertainment.”

  There was a “constant influx of girls” at this Island. It was a type of brothel. According to Ransome:

  “It’s like, I’m sure if you go into a hooker’s brothel and see how they run their business, I mean, it’s just general conversation about who’s going to have sex with who and, you know — what do you talk about when all do you is have sex every day on rotation? I mean, what is there to talk about?”

  She testified that all those girls “appeared to be teenagers.” They “looked young.” One girl in particular “looked well under 18.” This girl told Ransome that “they abused her on the island.” Another girl ran out of Epstein’s room crying and saying she was “forced to have sex with Jeffrey Epstein.”

  

  Ransome would meet Ghislaine Maxwell on a later trip to Epstein Island. She was told that Maxwell was “a very dangerous character and has connections,” and “to do everything she told me to do.” The girls would report to Maxwell. Ransome and other girls were in fact intimidated by and scared of Maxwell:

  “I met a lot of girls who we all had the same opinion of Ghislaine; we were all frightened of her. She had a very odd relationship with Jeffrey and — yeah, she’s not a nice — I’m sorry, I know she’s your client, but she’s not — she’s not a friendly, warm person.”

  Ransome also described the role of Ghislaine Maxwell at Epstein Island:

  “Ghislaine was Jeffrey’s right-hand woman, so, you know, whatever Jeffrey wanted went through Ghislaine and then filtered through.”

  “So there was — everyone was afraid of Ghislaine. All the girls were afraid of her…”

  “And we were told by Jeffrey Epstein to listen to Ghislaine. So Ghislaine was the main right-hand woman of Jeffrey Epstein. We were told by Jeffrey Epstein to listen to Ghislaine.”

  Maxwell would actually assist Epstein with managing his sexual “rotation” on the Island:

  Q. And when you say you were on rotation, you mean you were having sex with Jeffrey multiple times per day?

  A. No. As in when I was finished, another girl was called by Ghislaine. And when they had finished, another girl was called.

  Q. How do you know that another girl was called by Ghislaine?

  A. Because I was there, and I saw it and heard it with all my senses. I saw Ghislaine call another girl, and she called me herself, to go give Jeffrey Epstein a sexual massage.

  …

  Q. What do you mean by call? I guess I’m thinking like telephone. That may be my —

  A. No. As in going up to the person and going, Jeffrey wants to see you in his bedroom, which meant it’s your turn to be abused. That kind of thing.

  ++

  Other unsealed parts of the civil case concern the deposition of Rinaldo Rizzo – something we have previously reported on – who said Epstein and Maxwell were with a 15 year-old girl and had taken her passport:

  A. What happens next when Ghislaine Maxwell and Jeffrey Epstein and a 15-year-old girl walk into Eva Anderson’s home? . . . “A. She proceeds to tell my wife and I that, and this is not – this is blurting out, not a conversation like I’m having a casual conversation. That quickly, I was on an island, I was on the island and there was Ghislaine, there was Sarah, she said they asked me for sex, I said no.

  And she is just rambling, and I’m like what, and she said — I asked her, I said what? And she says yes, I was on the island, I don’t know how I got from the island to here. Last afternoon or in the afternoon I was on the island and now I’m here. And I said do you have a — this is not making any sense to me, and I said this is nuts, do you have a passport, do you have a phone? And she says no, and she says Ghislaine took my passport. And I said what, and she says Sarah took her passport and her phone and gave it to Ghislaine Maxwell, and at that point she said that she was threatened.”

  There is still more to come. Currently, multiple “John Does” are fighting the unsealing of their names. We expect those names to be unsealed but there is an appeals process we’ll have to wait for.

  Some of the men are only casually referenced in the case. Others were potentially involved in Epstein’s criminal acts. We’ll publish those names once they’re out.

  In the meantime, if you need to catch up on the Epstein/Maxwell details, here are some good places to start:

  • The FBI is Hiding Epstein Records

  • Ghislaine Maxwell has been convicted. Who is next? A New York Grand Jury was reviewing the criminal conduct of another Epstein associate.

  • The FBI/DOJ knew everything about Epstein and did nothing.

  • Unsealed records detail FBI/DOJ cover-up of Epstein’s crimes.

  Subscribe to The Reactionary here.

  Tyler Durden
  Wed, 12/14/2022 – 22:20

• DeSantis Forms Florida Grand Jury To Investigate Misconduct Surrounding Covid Vaccine Rollout
  DeSantis Forms Florida Grand Jury To Investigate Misconduct Surrounding Covid Vaccine Rollout

  Florida Governor Ron DeSantis is establishing a grand jury through the state’s supreme court to investigate malfeasance involving the rollout of the covid mRNA vaccines.  The investigations will include the claims of vaccine safety by pharmaceutical companies and the CDC, along with the rising number of deadly reactions to the jab including Myocarditis.  The announcement was made in a virtual town hall-style meeting and was met with a positive response.

  DeSantis notes the moral bankruptcy of the scientific establishment in the US during the pandemic lockdowns – With the federal government and many scientists admonishing the public for going outside their homes (even though UV light from the sun is a natural sterilizer), while at the same time supporting the BLM protests in which thousands of people congregated on city streets to riot.  Stopping the spread was not important in the case of BLM, but deadly important when it came to people walking on the beach or protesting the lockdowns.

  DeSantis has proven to be a consistent opponent of the lockdowns and mandates, despite Florida’s large population.  This policy helped to provide proof that the lockdowns were pointless.  If Florida (along with other defiant red states) could stay open without any noticeable jump in fatalities compared to blue states, then what was the point of the lockdowns and restrictions?  

  A trend is growing among the American public which runs contrary to the mainstream covid narrative.  People are beginning to question the validity of government policies, the claims of snake oil salesmen like Anthony Fauci and the rules enforced by the CDC.  Most importantly, they are beginning to apply skepticism to the mRNA vaccines, which is something that should have been done before they were ever distributed.  At the very least, the pendulum seems to be swinging back after nearly three years of attempted medical authoritarianism.     

  Tyler Durden
  Wed, 12/14/2022 – 22:00

• Nuclear Fusion 'Breakthrough' Touted By White House, Drawing Praise And Some Skepticism
  Nuclear Fusion ‘Breakthrough’ Touted By White House, Drawing Praise And Some Skepticism

  Authored by Nathan Worcester via The Epoch Times (emphasis ours),

  It was 1:03 a.m. on Dec. 5 that experimental physicist Alex Zylstra first spotted it: for the first time, a target yielded more energy from a fusion reaction than a laser put into it—though that’s not counting the much greater input energy that was needed to power the laser in the first place.

  “One of the first things I did was call one of the diagnostic experts to double-check the data,” he said during a Dec. 13 press conference with his colleagues from Lawrence Livermore National Laboratory.

  

  Zylstra was running a test with the world’s most energetic laser—Lawrence Livermore’s National Ignition Facility (NIF).

  By blasting a capsule of hydrogen atoms with that laser until the atoms heat into plasma and combine, he and his colleagues were hoping to achieve nuclear fusion through an approach known as inertial confinement.

  The other main approach to fusion, magnetic confinement fusion, uses devices such as tokamaks to contain plasmas using powerful magnetic fields.

  NIF physicist Tammy Ma said that “tears were running down [her] face” when she learned about the result.

  “I want to emphasize that each experiment we do is building on 60 years of work in this field, and more than a decade on NIF itself,” Zylstra said.

  His team’s latest work comes as the latest in a recent series of fusion-related achievements from that facility, where fusion research is pursued under the National Nuclear Security Administration’s “Stockpile Stewardship” program, as an alternative to the underground nuclear testing that ended during the early 1990s.

  The most important of those achievements may have occurred in August 2021, when NIF researchers first briefly achieved ignition according to one set of criteria—namely, when the forces cooling plasma down aren’t strong enough to swamp the forces heating it up. (The Dec. 5 result has also been called “ignition,” as it marks scientific energy breakeven.)

  “The NIF result in August 2021 changed everything, but this result changes nothing,” said Daniel Jassby, a former research physicist with Princeton University’s plasma laboratory, in a Dec. 13 interview with The Epoch Times.

  At the Dec. 13 press conference, Lawerence Livermore director Kim Budil said that about 300 megajoules of energy drove the experiment as a whole. The target produced about 3.15 megajoules of energy from 2.05 megajoules of energy, according to a press release.

  The latest result and press conference coincides with Congress negotiating a last-minute spending bill. Republican senators have called for their colleagues to wait until after their party takes the House of Representatives in January to finalize the package.

  Jassby did not rule out the possibility that the latest announcement’s timing has something to do with the ongoing spending debate.

  “That could be—that’s standard political activity,” he said.

  The reported breakthrough also coincides with increasing tension between the United States and its nuclear-armed geopolitical rival, Russia, in the midst of the Ukraine war. Lawrence Livermore’s Mark Hermann noted how NIF’s fusion research aided the United States’ nuclear deterrent capabilities.

  The scientists, bureaucrats, and administration officials who spoke on Dec. 13 said the results vindicate decades of earlier researchers who have sought energy breakeven.

  “They never lost sight of this goal,” said White House office of science and technology policy director Arati Prabhakar.

  Yet, an apparent discrepancy emerged as to a plausible timeline for commercial fusion power.

  Budil, of Lawrence Livermore, stated that commercialization could be achieved in “probably decades,” though perhaps not 50 or 60 years.

  “With concerted effort and investment, a few decades of research on the underlying technologies could put us in a position to build a power plant,” she said.

  Secretary of Energy Jennifer Granholm, by contrast, appealed to President Joe Biden’s “decadal vision to get to a commercial fusion reactor within 10 years.”

  She said the latest result “shows that it can be done.”

  When Granholm was asked about that gap by a reporter, Budil jumped in to say that magnetic fusion was more advanced than inertial confinement fusion. However, she did not state that either approach could be realistically commercialized within a decade.

  “With real investment and real focus, that timescale can move closer,” she said.

  Praise and Skepticism

  Some fusion insiders have stressed what they see as the significance of NIF’s contribution.

  A spokesperson for a major international magnetic fusion collaboration called the International Thermonuclear Experimental Reactor (ITER) said the results were “a shot of adrenaline for the global fusion R&D enterprise.”

  Tokamaks—the technology at the center of ITER’s work—are still “the closest to commercial deployment,” added ITER spokesperson Laban Coblentz.

  Andrew Holland, the CEO of the Washington-based Fusion Industry Association, said that the announcement on the finding “shows the world that fusion is not science fiction: it will soon be a viable source of energy.”

  He also called for regulation of the emerging fusion sector, adding that the NIF experiment “will give governments around the world further incentive to support the development of commercial fusion energy.”

  Yet other experts who spoke with The Epoch Times sounded more skeptical, particularly with regard to the idea of fusion energy reaching commercialization within a decade.

  “It will take half a century to develop the presently non-existent technologies required for a power reactor based on [inertial confinement fusion], including a practical laser or ion beam,” Jassby said in an email to The Epoch Times.

  In his view, tokamaks remain “highly speculative.”

  “Anyone who predicts commercial fusion before 2050 has a far greater imagination than I do,” said Rod Adams, a Navy nuclear veteran who is a partner with the Nucleation Capital venture fund, in a Dec. 13 email to The Epoch Times.

  Read more here…

  Tyler Durden
  Wed, 12/14/2022 – 21:40

• Zelensky Aide Accuses Musk Of Censoring Ukraine War On Twitter
  Zelensky Aide Accuses Musk Of Censoring Ukraine War On Twitter

  A senior adviser to Ukrainian President Volodymyr Zelensky has accused Elon Musk of hiding reporting on the Ukraine war from Twitter trends.

  Spokesman Mikhail Podoliak blasted the billionaire Twitter CEO for censoring vital Ukraine information. “‘War in Ukraine’ disappearance from Twitter trends. Radical curtailment of tweets mentioning ru-aggression coverage. Users aren’t allowed to register or log into accounts with Ukrainian phone number,” Podoliak wrote Tuesday on Twitter, tagging Musk.

  “War in Ukraine” disappearance from Twitter trends. Radical curtailment of tweets mentioning ru-aggression coverage. Users aren’t allowed to register or log into accounts with Ukrainian phone number. @elonmusk, I wonder if will we ever see “Twitter Files” about Fall/Winter 2022?

  — Михайло Подоляк (@Podolyak_M) December 13, 2022

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

  The Ukrainian presidency’s office spokesman additionally took a swipe at the ongoing “Twitter files” release, saying he doesn’t expect the issue he’s raising to be covered there. “Elon Musk, I wonder if we will ever see ‘Twitter Files’ about Fall/Winter 2022?” Podoliak questioned. 

  The suggestion was that Musk is seeking to tilt coverage in terms of content that appears on Twitter against anything highlighting “ru-“(Russian)”aggression” – as he wrote in the tweet.

  Some recent local Ukrainian media reports have claimed that users within the country or anyone possessing a Ukrainian phone number can no longer register or log in to Twitter.

  Based on prior official Twitter statements, but not directly addressing the Ukrainian charge, its trending topics are “determined by an algorithm and, by default, are tailored for you based on who you follow, your interests, and your location.” This “identifies topics that are popular now, rather than topics that have been popular for a while or on a daily basis,” according to Twitter.

  Ukrainian leadership has been angered at Musk ever since he grew bolder in criticizing the open-ended US military and financial support to the Ukrainian government, expressing fears of stumbling into a nuclear-armed WWIII scenario. This despite his previously providing Starlink to the war-ravaged country.

  

  He sparked outrage among Ukraine-supporters with his early October “Russia-Ukraine Peace” Twitter poll and related threads wherein he called out Washington and its rush to confront Russia in Ukraine.

  At that time, Zelensky had even weighed in, condemning Musk. Musk had also engaged some of his irate followers who pointed out that he risked angering many Ukrainians. Musk responded, “You are assuming that I wish to be popular. I don’t care. I do care that millions of people may die needlessly for an essentially identical outcome” – in reference the potential for nuclear war between superpowers over Ukraine. He has since also pledged to clean up the bot accounts, which each side in the Russia-Ukraine conflict has said artificially tilts what gets presented to users.

  Tyler Durden
  Wed, 12/14/2022 – 21:20

• China Sees $10 Billion In LNG Tanker Orders In 2022
  China Sees $10 Billion In LNG Tanker Orders In 2022

  By Julianne Geiger of OilPrice.com,

  Three of China’s shipyards won almost a third of this year’s orders to make new LNG carriers, Reuters said on Monday.

  

  China’s shipyards—only one of which has experience building new LNG tankers—are getting a significant piece of the pie for new LNG carriers, which hit a record this year at 163 orders. The orders that China’s shipyards are seeing tripled this year, to 45, and some of China’s shipmakers that only recently became certified to build the LNG tankers, are even seeing foreign orders for the first time ever.

  China’s LNG tanker orders this year are valued at nearly $10 billion—about five times the order value of last year, Clarksons Research showed, cited by Reuters.

  South Korean shipyards usually get a large share of the LNG tanker orders, but they are already at capacity as they try to service Qatar’s North Field expansion. This has created a backlog for South Korean shipyards, and has increased costs to build LNG tankers. The end result is that even foreign buyers who look favorably on South Korea’s ability to design and build LNG tankers free from problems are now giving a serious look at China—even for companies that have zero experience with the intricacies of LNG shipbuilding. 

  “As more Chinese gas traders engage local shipyards, they will be forced to climb the learning curve and eventually grow the whole industry,” Li Yao, founder of Beijing-based consultancy SIA Energy, told Reuters.

  As of late November, Chinese shipyards had orders for 66 LNG tankers, bringing its total to 21% of all global LNG tanker orders, worth some $60 billion.

  LNG tankers are notoriously difficult to build, and typically take more than two years to complete.

  The LNG boom comes as 20 million tonnes of gas per year is set to ship from the United States. 

  Tyler Durden
  Wed, 12/14/2022 – 21:00

• Airlines Lobbying Congress To Allow Just One Pilot In The Cockpit
  Airlines Lobbying Congress To Allow Just One Pilot In The Cockpit

  Airlines, in their infinite mission to balance costs, profits, and keeping planes full of passengers alive between two points, might be going a little too far in their latest attempt to cut back.

  According to CBS News, the industry has been quietly lobbing Congress to allow them to use just one pilot in the cockpit instead of two, as is currently required by part 121 of the Federal Aviation Regulations.

  

  The airlines claim it would quickly solve staffing issues caused by the ongoing pilot shortage, and say that technology has improved to the point where it would be perfectly safe to do so.

  There’s language in a new bill now introduced in Congress — the Federal Aviation Administration reauthorization bill — asking the Federal Aviation Administration to reconsider part 121 and to allow the use of a single pilot operation, first in cargo aircraft. 

  Not surprisingly, airline pilots are loudly protesting this idea, claiming that it would diminish a safety discipline and culture that has been responsible for the safest 25 years in commercial aviation in the history of aviation. Pilots unions argue it’s all about the airlines saving money and could compromise safety. -CBS News

   Unions have pointed to several examples of emergency situations in which two pilots were necessary – such as the “Miracle on the Hudson,” when pilots Chesley “Sully” Sullenberger and Jeffrey Skiles worked together to glide a US Airways flight down to New York’s Hudson river after it hit a flock of Canadian geese on takeoff, saving all 150 passengers and crew.

  Meanwhile, 10 days ago an American Eagle flight from Chicago to Columbus had an emergency when one of the two pilots became incapacitated. The co-pilot was able to gain control of the plane, declare an emergency, and safely land back in O’Hare.

  The pilot later died at the hospital.

  Tyler Durden
  Wed, 12/14/2022 – 20:40

• Musk Taking Legal Action Against Kid Who Tracks His Plane After "Crazy Stalker" Attack
  Musk Taking Legal Action Against Kid Who Tracks His Plane After “Crazy Stalker” Attack

  Update (2025ET):

  We finally know why the @ElonJet Twitter account was suspended. Musk tweeted:

  “Last night, car carrying lil X in LA was followed by crazy stalker (thinking it was me), who later blocked car from moving & climbed onto hood.”

  Musk then said, “legal action is being taken against Sweeney [the kid who runs @ElonJet] & organizations who supported harm to my family.” 

  Musk also said, “any account doxxing real-time location info of anyone will be suspended, as it is a physical safety violation. This includes posting links to sites with real-time location info,” adding “posting locations someone traveled to on a slightly delayed basis isn’t a safety problem, so is ok.” 

  Last night, car carrying lil X in LA was followed by crazy stalker (thinking it was me), who later blocked car from moving & climbed onto hood.

  Legal action is being taken against Sweeney & organizations who supported harm to my family.

  — Elon Musk (@elonmusk) December 15, 2022

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

  * * * 

  The college kid who created the @ElonJet Twitter account before Elon Musk bought the social media platform has had the account “suspended.” 

  Last Friday, Jack Sweeney pointed out @ElonJet was “search banned,” though he mentioned the account had been “search banned for months before Elon’s takeover. “

  It’s true ElonJet is search banned. But I’m not sure who to blame, it’s been search banned for months now way before Elon’a takeover. https://t.co/kYpSdFS6Tw

  — Jack Sweeney (@JxckSweeney) December 9, 2022

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

  But now it appears the account that shared publicly-available information about Musk’s private jet locations and had over half a million followers has been “suspended.” 

  

  On Wednesday morning, Twitter users are chatting away about the suspension. Here’s what some had to say:

  Elon Musk’s position on free speech pic.twitter.com/zvxTLf4Jhz

  — Daniel Uhlfelder (@DWUhlfelderLaw) December 14, 2022

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

  Hey folks (@RonFilipkowski @DWUhlfelderLaw ), not only has Elon suspended @ElonJet, he’s now prevented Flight Aware from publicly tracking his airplane. I guess it’s good to be rich.

  This should be publicly available information. I’m sure someone can figure out how. pic.twitter.com/VQ2xCmBHra

  — globetrotter (@globe55trotter) December 14, 2022

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

  Nearly a year ago, we told readers about Sweeney and how Musk requested the college kid to take down the account because of security risks. 

  At the time, Sweeney told Musk the price to take down @ElonJet would be a “Model 3.” Musk rejected the offer and told the kid: “I don’t love the idea of being shot by a nutcase.” 

  As we’ve told readers, tracking the private jets of CEOs is nothing new in the hedge fund industry. There are services that some traders pay upwards of $100k to retrieve flight data of the movements of deal-makers. 

  We also said Sweeney would have better luck selling his technology to a hedge fund or even Quandl, a flight-tracking company, rather than letting it stay on Twitter. Now the account has been nuked. 

  Tyler Durden
  Wed, 12/14/2022 – 20:25

• A Cryptocurrency Victim Turns Journalist To Uncover Scandals
  A Cryptocurrency Victim Turns Journalist To Uncover Scandals

  Authored by Lisa Cosgrove via The Epoch Times (emphasis ours),

  After graduating from the University of Southern California in 2017, Tiffany Fong started several e-commerce businesses, earning passive income while traveling the world. She recently spoke with The Epoch Times about how she lost a lot of money investing in cryptocurrencies, which prompted her to become involved in exposing scandals in the crypto sector such as the FTX debacle.

  

  Fong’s introduction to cryptos began early on, when a family member gifted her several Bitcoins in 2011. Still in high school at the time, Fong did not think much of the gift.

  By the end of 2011, Bitcoin was worth a mere $4.25. Fong still owns some of the tokens today. The price of Bitcoin peaked at over $68,000 in November last year. Since then, it has fallen dramatically, and is now trading at a little more than $17,000.

  During the crypto bull market of 2017, Fong became more interested in the asset class and its underlying philosophy: freedom from state-issued currencies and the ability to transact with whomever one chooses. After a couple years of crypto-hiatus, Fong began investing more heavily during the bull run of 2021.

  Expanding on her initial Bitcoin holdings, Fong became interested in the decentralized lending platform Celsius. The project’s founder, Alex Mashinsky, would frequently make the rounds on financial media to tout the returns that Celsius users were earning, promising annual returns as high as 18 percent.

  These returns were achievable for a time, but nothing lasts forever.

  Rising interest rates and a crypto bear market quickly exposed the Celsius network as insolvent, forcing a withdrawal freeze in June and bankruptcy filing in July. Fong personally lost $250,000 she had stored on the platform, she said.

  Motivated by her loss, Fong embarked on a mission to uncover what happened. With only a couple hundred followers at the time, she took to YouTube and Twitter to share her investigations.

  After seeing her work on social media, several Celsius employees sent her confidential recordings of Mashinsky speaking at internal meetings. Fong then secured a notable milestone in her journalistic career by publishing the leaked recordings with The New York Times.

  Bankman-Fried

  Fong’s entry into crypto reporting caught the attention of then-FTX CEO Sam Bankman-Fried, who began following her work to stay updated on the Celsius situation. The two messaged on Twitter and occasionally kept in touch, according to Fong.

  This relationship would prove fortuitous for Fong’s continued coverage of the crypto space.

  In early November, as FTX underwent a Celsius-like series of events, freezing customer assets and filing for Chapter 11 bankruptcy, Fong reached out to Bankman-Fried. His reputation tarnished and his company in ruins, she did not expect a response from the fallen founder.

  Nevertheless, he granted Fong an interview that would reveal numerous unknowns about the collapsed exchange and provide an interesting look into Bankman-Fried’s character. During their conversation, the FTX founder claimed that he donated equal amounts to both political parties and confessed to lying about Bahamian regulators’ involvement in key FTX decisions.

  Fong told The Epoch Times that she was uncertain whether she could trust the answers provided by Bankman-Fried. “There were some questions I asked him where I did feel he was very clearly being evasive,” she said, later adding that his elusive behavior was intriguing in itself.

  During their November conversation, Fong asked Bankman-Fried about the alleged “back door,” which would have allowed client funds to be siphoned from FTX to its sister company, Alameda Research. He claimed that he is not well-versed in computer programming and, therefore, could not create such a tool, which Fong said she found to be an intentionally imprecise answer.

  At the time of the interview, Fong believed the founder was genuinely remorseful, but mentioned her faith has faded over time. “My views have changed the more he’s talked,” she said, referring to Bankman-Fried’s subsequent appearances in mainstream media, including the New York Times’s DealBook Summit, his sit-down with Good Morning America, and his numerous discussions on Twitter Spaces.

  “On our last call, he did mention that he would be ramping up communication soon, but I did not expect it to this degree,” Fong said, surprised by the scope of Bankman-Fried’s public relations campaign.

  “It was fun being the first stop on [Bankman-Fried’s] apology tour,” Fong jokingly wrote in a tweet on Dec. 7.

  Independent Journalist

  Fong’s success as an independent reporter and brief experience working with legacy media has given her insights into the advantages of the former over the latter.

  Read more here…

  Tyler Durden
  Wed, 12/14/2022 – 20:20

• Florida Subpoenas Nearly Two Dozen Organizations Pushing Hormones, Transgender Surgeries For Children
  Florida Subpoenas Nearly Two Dozen Organizations Pushing Hormones, Transgender Surgeries For Children

  The state of Florida has subpoenaed almost two dozen medical and academic organizations which are pushing transgender sex change treatments for children, the Daily Caller reports, citing an ongoing lawsuit against a new Medicaid rule.

  

  The subpoenas, issued by the Florida Agency for Health Care Administration (AHCA), and which seek information about internal decision-making processes and leadership structures for pushing hormone treatments and transgender surgeries on minors, went out in November to 20 organizations.

  The organizations signed onto a lawsuit against the state, which implemented a new rule in August to no longer cover “gender-affirming” care with Medicaid.

  “Gender-affirming” care is a euphemism for treatments and procedures that facilitate sex changes, like hormone treatments or sex change surgeries. -Daily Caller

  A preliminary injunction was filed against the Florida law, however federal judge Robert Hinkle denied it in October, ruling that the issue was not Constitutional, rather, applied to the Medicaid statute.

  Transgender rights groups are suing Florida over its Medicaid ban on gender-affirming care.

  Their argument: the ban violates the federal equal protection clause & prevents an estimated 9,000 state Medicaid enrollees from receiving gender-affirming care.https://t.co/aBnHK5UfdH

  — POLITICO (@politico) September 7, 2022

  Subpoena recipients include;  the American Pediatric Association, American Academy of Child and Adolescent Psychiatry, American Medical Association, American Psychiatric Association, Pediatric Endocrine Society, Society for Adolescent Health and Medicine and Yale University, according to the Caller, which notes that Yale is included despite not being a medical organization because Yale professors have been involved in pushing against the new rule.

  All 20 organizations have either promoted or employ individuals who promote “gender-affirming” care for minors. The request includes documents pertaining to deliberations involving gender dysphoria and related care, along with policies which have been adopted, side effects associated with those policies and treatments, and how members voted to support said policies.

  Plaintiffs in the case have argued that the Medicaid rule violates the equal protection clause of the Constitution.

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

  Tyler Durden
  Wed, 12/14/2022 – 20:00

• WaPo Corrects OpEd Conflating Lack Of Black Argentinian Footballers With "History Of Black Erasure"
  WaPo Corrects OpEd Conflating Lack Of Black Argentinian Footballers With “History Of Black Erasure”

  Authored by Steve Watson via Summit News,

  The Washington Post has been forced to issue a correction to an op-ed that asked ‘Why doesn’t Argentina have more black players in their World Cup lineup?’ after Argentinian people pointed out that the country is overwhelmingly white and not obsessed with virtue signalling about race.

  

  The piece claimed that it is a ‘myth’ that Argentina is a white nation, with the author Erika Denise Edwards, an associate professor at the University of Texas at El Paso, suggesting her rantings uncover a “history of Black erasure in Argentina.”

  A history of Black erasure in Argentina!! Check out my article! https://t.co/cSyaYaETt8

  — Erika Edwards (@Prof_Edwards) December 10, 2022

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

  In the piece Edwards argues that in the 18th century, a third of Argentina’s population was black and that since then there has been an agenda to ‘whiten’ the country.

  “They believed that to join the ranks of Germany, France and England, Argentina had to displace its black population — both physically and culturally,” she further asserts.

  She also points to census figures from 2010, claiming they prove that “roughly one percent” of Argentina’s population of 46 million is black.

  After people pointed out that this is just not true, The Washington Post issued a correction noting that the actual number was “far less than” one percent.

  The Washington Post opinion piece complaining that there are no black players on Argentina’s team has been corrected after the fact, to note that “far less than 1%” of the Argentine population is black. https://t.co/G7B5BO8LJO pic.twitter.com/kSBhjTRoV9

  — Alex Griswold (@HashtagGriswold) December 12, 2022

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

  This piece is full of inconsistencies and misinterpretations, it is evident that the person who wrote it has no knowledge of Argentine culture and never lived in Argentina.

  — Sara Stewart Brown (@Kiwita) December 10, 2022

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

  You can’t apply an American perspective to this, @washingtonpost. The obsession to put everything through a lens that fits your world view in deeply troubling. In your article, you demonstrate a complete lack of understanding of the Indigenous, and Hispanic history of Argentina https://t.co/YE3NjQz9cr

  — Nico Slobinsky (@nicoslobinsky) December 10, 2022

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

  Just came back to laugh at Washington Post….

  Washington Post- Argentina is racist because they don’t have black players in their team.

  Washington Post – Sorry we didn’t know there are no black people in Argentina.

  This is a paper funded by Bezos, and this is their research

  — Whyteknight (@whyteknight07) December 12, 2022

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

  So fewer than 150,000 in a country of 46 million. And that’s including women and all men who are not between the ages of about 18 and 35, which is the approximate age window for players of this caliber. https://t.co/oSppma35R9

  — Noam Blum (@neontaster) December 12, 2022

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

  You just gathered one sided data that would confirm your bias and your preconceived idea of Blacks in Argentina.

  — Pedro Bartholomai (@hansenribera) December 13, 2022

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

  These pieces are always written by people who know 0 about football but a lot about woke

  Are @WashingtonPost suggesting there are good black Argentine players not being selected for the team due to racism? Who are they?

  No footballing nation leaves great players out due to race https://t.co/EDJSFlbLiA

  — Ben Harris-Quinney (@B_HQ) December 11, 2022

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

  Others noted that real life isn’t a Disney movie where each character is a different race:

  Because we are a country, not a Disney movie. https://t.co/k8Lps8PgW2

  — La Libertad Avanza (@LLibertadAvanza) December 10, 2022

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

  La estúpida nota del @washingtonpost sobre la falta de negros en la selección argentina me dejó asqueado. Estados Unidos vive obsesionado con las razas, Argentina no. Estados Unidos eligió mantenerlas separadas, Argentina las mezcló. Pero insisten en exportar sus neurosis.

  — Gonzalo Garcés (@GonzaloGarces5) December 10, 2022

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

  Translation: “The stupid note from [Washington Post] about the lack of blacks in the Argentine team left me disgusted. The United States is obsessed with race, Argentina is not. The United States chose to keep them separate, Argentina mixed them. But they insist on exporting their neuroses.”

  You have studied so many years for this article? You clearly have to study more.

  You judgde Latinos and Latin America countries without understanding geography and history and so much more.

  Do not transfer your racist problems to US.

  — Pilar (@piluogorman) December 13, 2022

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

  There is nothing that I stated that is factually incorrect.–EDE @FoxNewsDigital https://t.co/a95415w7wE

  — Erika Edwards (@Prof_Edwards) December 14, 2022

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

  Do something please, this can’t be tolerated anymore! There HAS to be black players in EVERY SINGLE soccer team of the world. Save us oh, great expert of racial identities! https://t.co/47KSABZVNp pic.twitter.com/7k8IMxVsql

  — Cripto Moneda (@criptomonedaz) December 13, 2022

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

  The obsession with diversity and race in national sports is purely an American and British phenomenon. People in other countries are not concerned with obsessing about skin colour over skill and talent.

  Thoughts on the BBC lamenting the English women’s football team having too many white players.

  Yes, this actually happened.https://t.co/uxaRdX2RQr

  — Paul Joseph Watson (@PrisonPlanet) July 15, 2022

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

  *  *  *

  Brand new merch now available! Get it at https://www.pjwshop.com/

  In the age of mass Silicon Valley censorship It is crucial that we stay in touch. We need you to sign up for our free newsletter here. Support our sponsor – Turbo Force – a supercharged boost of clean energy without the comedown. Also, we urgently need your financial support here.

  Tyler Durden
  Wed, 12/14/2022 – 19:40

• Chinese Hunker Down Despite Zero-Covid Policy Ending Amid Virus Wave
  Chinese Hunker Down Despite Zero-Covid Policy Ending Amid Virus Wave

  China faces a surge in Covid-19 infections as Beijing dismantles strict pandemic controls and embraces a faster reopening of the economy. The abrupt shift in policy is very problematic because not everyone is celebrating the easing of zero Covid rules, as many are hunkering down amid the winter Covid wave. 

  The sudden move away from zero Covid rules after nearly three years of Beijing following a stringent playbook used to eliminate the virus has yet to translate into economic success. People are staying home, avoiding stores and restaurants, and other public areas as they panic hoard staple items to survive the Covid wave, which could impact an estimated 80 to 90% of the Chinese population, according to a new projection by Feng Zijian, a former deputy chief at China’s Centers for Disease Control and Prevention. 

  

  WSJ explained that people in large cities such as Shanghai and Guangzhou stay home despite the shift in government policy. They spoke with one Beijing resident, Qian Yingqin, who said her family hadn’t left their home since Sunday. 

  “I’ve never seen fewer people on the streets and more people wearing masks outside in the past three years,” Yingqin said, who recently postponed a trip to Dali, a tourism hot spot in southwestern China. She warned: “It’s simply impossible to fend off the virus anymore.”

  Bloomberg Intelligence’s chief pharmaceutical analyst Sam Fazeli said in a television interview on Tuesday that Beijing’s mindset since pivoting away from the zero-tolerance policy is “there’s not so much we can do, we’ve done the best we can. We’ve got the blueprint for what the West did and what happened, so let’s just let it rip – which is what I think is going on.” 

  “As China enters its first winter with Omicron, things could get worse before getting better,” Citigroup analysts told clients last month. 

  Bloomberg’s Fazeli said the reopening could result in some 5 million people hospitalized and up to 700,000 deaths. 

  Economists and analysts have been widely optimistic about the current path of reopening, but others warn it’s going to be a bumpy ride:

  “There is a problem with people thinking the pullback of Covid-zero measures is equivalent to the economy reopening, which it is not,” said Leland Miller, chief executive officer of China Beige Book, a research firm that conducts surveys.

  Even though Morgan Stanley economists upgraded China’s 2023 GDP growth target due to reopening, they admitted economic growth would suffer some near-term pain due to the Covid infection wave that might disrupt production and consumption. 

  WSJ pointed out high-frequency data, such as mobility and internet search trends, that don’t signal an imminent rebound in economic growth but rather one that will be muted, at least for the winter season, until infections wane.

  Some recent data on mobility patterns show increases in traffic and subway usage in some cities, though the numbers remain depressed compared with 2021, when China was largely free of Covid cases. Sales of cars and properties also fared better last week than the previous week, giving a glimpse of what China’s economy could look like more broadly as it works through its Covid cases.

  But behavior in places where Covid is becoming most prevalent—especially Beijing—suggest a rocky stretch in the near term. Searches for the words “fever” and “rapid antigen test” on Baidu, China’s dominant search engine, saw the highest surges over the past week in Beijing, according to economists from Nomura.

  Li Jianxing, the co-founder of InstaShake, a milkshake chain in Shanghai, warned:

  “There’s no sign of a strong recovery just yet, because people are still afraid of getting the virus.” 

  Logic doesn’t seem to apply to Beijing’s grand reopening of its economy during winter when spring would’ve been a much better time. Or perhaps the government wants to infect as many people as possible to get the Covid wave over with? 

  Tyler Durden
  Wed, 12/14/2022 – 19:20

• Latin America's Slow Descent Into Interventionism
  Latin America’s Slow Descent Into Interventionism

  Authored by Daniel Lacalle,

  The latest estimates from consensus for the main Latin American economies show a continent facing a lost decade. The region GDP growth has been downgraded yet again to a modest 1.1% for 2023, with rising inflation and weakening gross fixed investment. Considering that the region was already recovering at a slower pace than other emerging markets, the outlook is exceedingly worrying.

  

  The poor growth and high inflation expectations are even worse when we consider that consensus estimates still consider a tailwind coming from rising commodity prices and more exports due to the China re-opening.

  How can a region with such high potential as Latin America be condemned to stagflation? The answer is simple. The rise of populist governments in Colombia, Chile and Brazil have increased the concerns about investor security, property rights and monetary discipline.

  Argentina is expected to post a modest 0.2% GDP growth in 2023 with 95% inflation and a debt to GDP of 72%. Years of monetary and fiscal excess have destroyed the purchasing power of the local currency and dilapidated the prospect of real growth. In Argentina, poverty has escalated to 36.5% of the population and the government policies double down on interventionism, price controls and higher taxes with the expected negative result. Despite the tailwind of high demand for soja and cereals globally, Argentina dives deeper into Venezuela territory, where consensus expects another year of weak 3% bounce after destroying 80% of the output in a decade, with enormous inflation, 132%.

  The problem? The new governments in Chile and Colombia are announcing policies that resemble those of the “Peronist left” in Argentina and the Fernandez government in Argentina is looking more like Maduro’s Venezuela each day.

  Chile is expected to post no growth in 2023 despite an estimated higher copper price, and 15% inflation. Colombia, which showed the strongest recovery from the covid-19 crisis until 2022, in which consensus expects a 7% growth, is feared to stop on its tracks and deliver a poor 1.6% GDP growth with elevated inflation, close to 7%.

  In Brazil, consensus expects a poor 0.9% growth with 5% inflation. It does not look as bad as Argentina, but the first major announcement of newly elected president Lula has already triggered all alarm bells. Lula stated that he wanted to change the constitution to lift the spending limit and increase government spending even more. The Brazil currency and 10-year bond reacted aggressively to this risk because everyone can remember that Lula’s “economic miracle” a decade ago came from massively high oil prices and, when the commodity bonanza ended, his successor Rousseff sent the country to a deep crisis where spending soared and growth stagnated.

  You may say that the rise of populism in Latin America is the consequence of the failed classic liberal policies implemented before, but that would be a grave mistake. Most of these countries have not seen open and liberal economies but crony states. Statism failed and more statism fails even faster.

  Global investors see the enormous potential of Latin America. However, when governments start to impose interventionist policies, put at risk property rights with expropriation threats and at the same time massively increase monetary imbalances printing currencies with no real global and diminishing local demand, the combination is destructive.

  Why do citizens vote for politicians that implement confiscatory and extractive policies? In many economic debates in Latin American media one can hear the word “redistribution” repeated incessantly. Many believe that wealth is like a pied that can be cut and distributed at will, but ignore that wealth is either created or destroyed, it does not stay flat.

  Interventionist policies destroy wealth in three ways: First, attacking independent institutions and introducing political random decisions in legal and investor security which erodes growth potential, investment, and employment. Second, by increasing taxes on the productive sector to pay for massive subsidies paid in a constantly depreciated currency, which creates a double negative of lower growth, weaker local businesses and a dependent subclass that rarely emerges. The productive sector ends forced to operate in the underground economy to avoid confiscatory taxes. Third, interventionism destroys the purchasing power of the local currency by breaking all the rules of prudent monetary policy and financing an ever-increasing government size printing a constantly devalued currency. The combination of these three factors means poverty and stagnation.

  Why do interventionist governments do this when they know -and they do- it does not work?

  Monetary destruction is the easiest and most effective way of nationalization of an economy. Printing currency is a form of expropriation of wealth, as money creation is never neutral, it benefits the government and hurts real wages and savers.

  Why would “populist” governments impose policies that perpetuate poverty and hurt the people? Interventionism does not aim to increase prosperity but take full control of a nation. The three mentioned policies are aimed at grasping full control of a country and make the population dependent, not deliver growth and improve social conditions.

  Extractive and confiscatory policies are not social measures, they are profoundly anti-social. The worst is that once implemented, it becomes difficult to unwind. We should learn the lesson everywhere because it is coming to your country soon.

  Tyler Durden
  Wed, 12/14/2022 – 19:00

• Russia Reaching Out To North Korea, Iran As It Burns Through 40-Year-Old Ammo: Pentagon
  Russia Reaching Out To North Korea, Iran As It Burns Through 40-Year-Old Ammo: Pentagon

  The Pentagon this week is suggesting that Russia is growing increasingly desperate in maintaining steady ammo supplies, with senior officials describing 40-year old Soviet-era ammo being used, claiming Moscow is turning to countries like North Korea, and relying increasingly on Iran. 

  “They [Moscow] have drawn from ageing ammunition stockpiles, which does indicate that they are willing to use older ammunition, some of which was originally produced more than 40 years ago,” a senior Pentagon official told a press briefing.

  This makes it potentially faulty, unreliable, and even dangerous for the Russian troops operating the heavy guns, the official described: “In other words, you load the ammunition and you cross your fingers and hope it’s going to fire or when it lands that it’s going to explode.”

  

  The official went on the predict that Russia could deplete its up-to-date ammunition stocks by early 2023 if it didn’t seek to tap both foreign suppliers and older ammo. Further the official alleged the chief foreign suppliers are likely to be Iran and the North Koreans.

  “Russia, has been seeking to get additional capabilities from Iran,” the official said. “And you know, the [National Security Council] put out a fair amount of information on this last week. You know, in a lot of ways, given this current state of Russia’s munitions stockpile, it’s not surprising that they continue to look at opportunities to work with countries like Iran and with – and North Korea to try to gain additional capability.”

  When pressed for evidence of the assertions, the Pentagon official cited that the Ukrainian army is increasingly finding duds and unexploded Russian ordinance littering the battlefield, which is a sign of reliance on older, undependable munitions: 

  “And so, ultimately, broadly speaking, our assessment is that Russia — the Russian military will very likely struggle to replenish its reserve of fully-serviceable artillery and rocket ammunition through foreign suppliers, increased domestic production and refurbishment.

  So, again, this is why it’s not surprising that they’re reaching out to countries like Iran and North Korea to try to obtain some more dependable ammunition.”

  The US spokesman continued, “we do assess that they have used quite a bit of their stockpile and that their numbers – the numbers available to them have really diminished their ability to sustain their current rate of fire when it comes to PGMs [precision-guided munitions].”

  This latest assessment also echoed the prior words of Director of National Intelligence Avril Haines, who said in early December as the war entered its tenth month that Russia is “quite quickly” burning through its military stockpiles.

  “It’s really pretty extraordinary,” Haines said. “Our own sense is that they are not capable of indigenously producing what they are expending at this stage. That’s why you see them going to other countries effectively to try to get ammunition.”

  Tyler Durden
  Wed, 12/14/2022 – 18:40

• The Slow Strangulation Of The World Economy
  The Slow Strangulation Of The World Economy

  Authored by Jeffrey Tucker via DailyReckoning.com,

  I was visiting with a friend recently and she was recounting her early panic over COVID. She has kids and loves them. As a mom, she believed her first duty was to protect them from the bad virus that was floating around. She went into full freak-out mode, keeping the kids indoors and spacing them out. Her heart never stopped racing.

  One day, she looked out her window and saw that her neighbor’s dog was loose on her front lawn. She ran outside and started screaming at her neighbor to get that dog off her lawn immediately and never allow such an outrage again.

  Why?

  Because she had heard on CNN that dogs carry Covid. She believed that the dog was spreading Covid around and that this would waft through her windows and infect her kids.

  Now, this is a brilliant woman, educated at a prep school that no normal person could afford and attended a top school before becoming a partner in a firm that serves only high-end clients.

  Moreover, she is herself brilliant and stable, and not politically left-wing at all. She is sober and strong. But Covidophobia snagged even her. Simply amazing.

  I had not remembered the weeks during which we were supposed to hate on people’s pets. We can add that to the endless litany of nonsense we’ve been through.

  

  The Fauci Effect

  Why the attack on pets? Well, the frightening Fauci in August took a day or two to work with his co-author from the National Institutes of Health on an academic article explaining the bigger picture. The problem, they explained, began 12,000 years ago. That’s when humankind started farming, killing land animals, and moving around from place to place.

  That caused disease to spread! So they say. It only got worse once we got to cities. Then everyone started mixing. Icky germs were everywhere. Next thing you know, we spread smallpox and cholera and god knows what else.

  Humankind was dooming itself with its ridiculous ambition to do more than live in a hut by the river and grab fish to eat! We are very, very bad.

  That’s the origin of COVID, they wrote, which is why we need a “new infrastructure of human existence.” This will require emptying out the cities, getting rid of pets, abolishing large events, and forbidding people from meeting in groups in restaurants and things. Only once we massively reduce the population and go back to a state of nature can we fully conquer disease.

  This is their vision. It’s pure insanity. Worse than Marx. Worse than anything even the nuttiest philosopher from the ancient world ever wrote. Worse than the devil himself.

  And yet this was the guy who was practically running the world for the better part of two years. He was not only scripting the pandemic response. He was in charge of social media. He was in charge of economics. He was in charge of technology. He was the totalitarian dictator for the U.S. and really for the whole world by influence.

  Nonstop Wreckage

  It’s truly hard to imagine how it came to be that this pest ended up dismantling the whole of the Trump administration. He was the terrifying guru that even Trump could not swat away. As a result, Trump fell in the polls and lost, taking the House and Senate with him. The economy was wrecked. The Constitution was abolished.

  Now we have terrifying inflation without end. In many parts of the world, people are having to choose between eating and heating. School kids are behind by two years. We’ve lost three years of lifespan just in the U.S. The whole country is utterly bankrupt. Trade is wrecked. Business is demoralized. 5.8 million people are missing from U.S. labor rolls right now.

  What an unspeakable disaster. Even writing this, it sounds like fiction. It’s not. It’s our reality, and it is getting worse by the day.

  Media won’t discuss the fullness of the calamity. Mostly we just pretend as if life is normal. What else can we do? Well, there are substances we can take, and millions take them if only to lessen the pain. They lead to early death. Excess deaths are through the roof right now, as ill-health spreads across the land.

  Oh, but won’t the Fed save us? They are raising interest rates. The 30-year mortgage is at 6%. The demand side of the housing market is in free fall. The supply side is suddenly flat. Prices are still rising. This is what an inflationary recession looks and feels like.

  Faucian Economics

  I’ve never been one for conspiracy theory but one would have to be stupid not to see that there is something of a plan here. They are attacking cities, enterprise, economic growth, and even procreation too. How? In every conceivable way.

  I’ve given up trust, all trust, in these people, their plans, and even their products. They are dangerous. Their vision of the world is even more so.

  We used to say that socialism cannot work. What does that mean? It means that it will only make people poorer and more miserable. But what if you have an ideology that is actually intended to do that? Can Faucian economics work? Yes, if you mean to reduce the population, spread misery, end progress, abolish all comforts, empty the cities, cause people to freeze to death, and only allow what’s left of the population to live off bugs.

  We need to get real. These people are truly up to no good. They have gotten their way. What’s more, the gang that did this is not subject to the voters, so elections might not make a bit of difference, even if they turn out well.

  The Root of the Problem

  The real problem is much more fundamental. It is structural. It is philosophical. It can be defeated but not through the usual ways. In the meantime, we really need to wake up, all of us, and recognize that nothing is normal anymore.

  Surviving this period in history will require cleverness and courageous action. We simply cannot ignore the trends all around us and expect to survive.

  It’s bad enough to realize the utter stupidity of the policies that are wrecking the world. It’s worse suddenly to realize that they are not stupid at all but rather the product of a diabolical mission to ruin civilization itself.

  But in truth, it is all deliberate, I’m sorry to say. The people who run the world today have no interest in a thriving social order and civilization.

  The means to survive them is to outsmart them.

  Tyler Durden
  Wed, 12/14/2022 – 18:20

Digest powered by RSS Digest

• If They Get The Opportunity, They Will Transform Our Society Into A Dystopian Hellscape
  If They Get The Opportunity, They Will Transform Our Society Into A Dystopian Hellscape

  Authored by Michael Snyder via TheMostImportantNews.com,

  If the elite get their way, our world will eventually look far more bizarre than any science fiction author ever imagined.  If you haven’t figured it out by now, the elite are control freaks, and they are envisioning a future in which they are in control of all of our lives from birth to death.  Instead of being born and raised the traditional way, humans will be mass produced in “birthing pods”.  Those that are genetically superior will be permitted to live, while those that are genetically inferior will be “harvested” and any spare parts that are not of value for scientific research will be discarded.  As children grow, education will be a top priority, but only material specifically approved by the elite will be permitted.  In fact, “free thought” and “free speech” will be a thing of the past if the elite get total control.  Everyone will think the same way, because no other alternative will be allowed.  And anyone that shows signs of rebellion will quickly have their digital currency privileges revoked.  I know that all of this may sound quite strange to many of you, but this is what our society will look like if the wildest hopes and dreams of the elite actually come to fruition.

  

  This week, an incredibly creepy concept video that was created by a German molecular biologist named Hashem Al-Ghaili is making headlines all over the globe.

  In this video, children are grown in a huge facility that contains hundreds of transparent “birthing pods”…

  A new concept video takes viewers on tour through The EctoLife Artificial Womb Facility, where hundreds of fetuses sit in transparent pods that are temperature controlled and feature an umbilical cord to receive oxygen and nutrients.

  If you have not seen the video yet, you can view it right here.

  I have to admit, that is one of the creepiest things that I have seen in a long time.

  We are being told that one of the big selling points of such a system would be the ability to create “designer babies” that are genetically superior to humans that are born the normal way…

  “And if you want your baby to stand out and have a brighter future, our Elite Package offers you the opportunity to genetically engineer the embryo before implanting it into the artificial womb. Thanks to CRISPR-Cas 9 gene editing tool, you can edit any trait of your baby through a wide range of over 300 genes. By genetically engineering a set of genes, the Elite Package allows you to customize your baby’s eye color, hair color, skin tone, physical strength, height, and level of intelligence. It also allows you to fix any inherited genetic diseases that are part of your family history so that your baby and their offspring will live a healthy comfortable life free of genetic diseases.”

  So what about the embryos that are genetically inferior or that are simply not wanted for one reason or another?

  Well, they would either be used for other purposes or they would be discarded in the trash.

  In addition to getting “perfect babies” every time, there would also no longer be any need for the pain of childbirth in such a system…

  While the video is focused on improving birth rates, it also notes that the birthing farm is for women who fear pregnancy because of the pain and recovery needed after going into labor.

  ‘Say goodbye to the pain of childbirth and muscle contractions,’ the video narrator says.

  Of course the elite would not want such “perfect children” to be ruined by “misinformation” as they grow older, and so everything that they would be exposed to would be strictly monitored and controlled.

  Sadly, such a system of thought control has already been rapidly developing all around us.

  We already knew that big tech companies were colluding with the government on a very deep level to suppress free speech, but the “Twitter Files” have demonstrated that things were actually far worse than any of us imagined.

  Government officials systematically targeted specific individuals and specific viewpoints for censorship, and in many cases big tech companies were more than eager to do what they were being asked to do.

  It is NOT okay for the government to suppress free speech as long as they can get private companies to do the dirty work for them.

  Our most basic constitutional rights have been trampled on over and over again, and those that were involved need to be held accountable.

  And if we don’t stand up now, they will just keep on doing it.

  Because this is what the elite desperately want.

  They want a future in which the flow of information is tightly controlled by them.

  If you are a rebel that insists on putting out “misinformation”, the elite envision a system in which such miscreants are dealt with quickly and efficiently.

  Today, the elite do not have direct control over our finances.

  But in a future where cash is banned and we are all forced to use their digital currencies, that would all change.

  Everything that we buy and sell would be tracked, and our “currency privileges” could be revoked at any time if our social credit scores drop too low.

  Of course government-controlled digital currencies are not ready for widespread use yet, but they are coming.

  In fact, just this week we learned that the Bank of England “has begun consultations on implementing a Central Bank Digital Currency”…

  The de facto head of His Majesty’s Treasury announced this week that the Bank of England has begun consultations on implementing a Central Bank Digital Currency (CBDC) that could usher in the globalist vision of a cashless society in which all transactions are traceable by the government.

  Chancellor of the Exchequer Jeremy Hunt revealed that, as a part of his ‘Edinburgh Reforms’ of Britain’s financial services, the Bank of England will begin consultations on the design of a Central Bank Digital Currency (CBDC) which would act as a digital version of the pound sterling.

  Meanwhile, the EU has also been working on a new “digital euro”.

  And the Federal Reserve is now testing a new “digital dollar” for the United States.

  Do you think that it is just a coincidence that all of these digital currencies are being developed simultaneously?

  The truth is that the elite are actively trying to create the dystopian version of the future that they envision for all of us.

  Unfortunately, most people still do not understand what they are trying to do, and so it is imperative for all of us to try to wake up as many as we can while there is still time.

  *  *  *

  It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.

  Tyler Durden
  Wed, 12/14/2022 – 00:05

• China Air Travel Demand Soars As Zero Covid Eases
  China Air Travel Demand Soars As Zero Covid Eases

  Beijing’s abrupt end to zero Covid policies that shuttered factories and cities and crushed economic growth in the world’s second-largest economy has produced at least one of the first signs of green shoots: Air travel rebound.

  Chinese aviation data company VariFlight reported domestic flight activity soared to 65% of pre-pandemic levels Monday, from only 22% on Nov. 29, according to Bloomberg. Thousands of flights are returning to the skies as air travel demand rebounds ahead of Lunar New Year next month. 

  

  Surging air travel demand is expected to increase airfare prices for top travel spots such as major cities from Beijing to Shanghai and the resort island of Hainan. Dialing back strict pandemic control measures that will boost air travel comes ahead Lunar New Year, which before Covid, was the world’s biggest mass migration event.

  “If you look at around the world, air ticket prices are materially higher than in 2019.

  “But when you look at China’s domestic air tickets, even into the third quarter of 2022, it’s about 15% lower than that of 2019,” Parash Jain, head of transport research for Asia Pacific at HSBC Holdings Plc., said in an interview with Bloomberg Television on Monday. 

  Guo Lechun, an analyst with the online travel website Qunar, expects Lunar New Year bookings to reach the highest levels in three years or about 80% of pre-pandemic levels. 

  “Ctrip.com said air travel searches jumped 900% on Dec. 7, the day the government announced the dismantling of most Covid restrictions, including mass testing and snap lockdowns,” Bloomberg said, adding searches on travel websites exploded hours after Beijing eased zero Covid policies. 

  

  But with the easing of zero Covid, there has been a sharp increase in China’s Covid infections. There are risks that at least one million Chinese people are at risk of dying from Covid this winter, according to Financial Times.  

  

  S&P Global Commodity Insights expects jet fuel demand to rise as domestic travel flourishes. Reopening China will certainly involve increased crude and refined imports in the coming months (remember what Goldman said …), perhaps putting a floor in energy prices unless the global economy slides into recession in 2023.

  Tyler Durden
  Tue, 12/13/2022 – 23:45

• Rep. Lauren Boebert Wins Reelection, Recount Confirms
  Rep. Lauren Boebert Wins Reelection, Recount Confirms

  Authored by Zachary Stieber via The Epoch Times (emphasis ours),

  Rep. Lauren Boebert (R-Colo.) will serve another term in Congress after a recount showed she triumphed in her reelection bid, Colorado officials confirmed late Dec. 12.

  

  The mandatory recount, triggered because the margin between Boebert and her challenger was within 0.5 percent, “reconfirmed that Representative Lauren Boebert is the winner of the race,” the office of Colorado Secretary of State Jena Griswold said.

  Boebert represents Colorado’s 3rd Congressional District.

  A recount of a Colorado House race also showed that Marine veteran Robert Marshall, a Democrat, won.

  “The mandatory recount for U.S. Congressional District 3 and permissive recount of House District 43 are complete and have confirmed the results of the races,” Griswold said in a statement.

  “Colorado’s elections are safe, secure, and accurate,” she added. “I commend the election workers from across the state and my office for conducting these recounts and for their continued work to make Colorado the best place to cast a ballot.”

  Boebert, 35, has not commented on the development, but shared posts on social media noting Griswold’s announcement.

  Boebert said over the weekend that the recount confirmed her win.

  “I am happy to report all the counties in Colorado’s 3rd District have completed their recounts. We’ve won this election, as expected, and I’m headed back to represent you in Washington, D.C.,” she said in a video.

  Recount Change

  Before the recount, Boebert led by 550 votes over Adam Frisch, the Democrat who was seeking to unseat her, out of about 327,000 cast.

  The recount ended with Boebert losing three votes and Frisch gaining one.

  The final count was 163,839 votes for Boebert and 163,293 votes for Frisch.

  State Rep. Kurt Huffman, a Republican, and Marshall, who left the Republican Party in 2017 over disenchantment with former President Donald Trump, each lost a single vote.

  “1 vote deducted from both opponent & me. W/smaller base total & same vote margin, % win margin increased VERY slightly 4 us. LoL,” Marshall wrote on Twitter.

  Frisch had already conceded and had asked supporters not to donate to him, noting that the recount was unlikely to change many votes.

  “The CO Secretary of State just certified our election. Just as we expected, the vote total didn’t shift by more than a few votes,” Frisch said. [delete]

  He claimed a “moral victory” because of how close the race was and said that he was confident “the coalition of Democrats, Republicans, and unaffiliated voters we built throughout this campaign to reject hate and extremism in Southern and Western Colorado will grow into the future.”

  Huffman had already conceded in November.

  “The final election results are in and although the outcome isn’t what we had hoped for, I am proud of our team and our campaign. Representative Marshall, I wish you well,” he said at the time.

  Republican Majority

  Boebert’s race is the final call for the midterm elections. The win means Republicans will have 222 seats when the new Congress is seated in January 2023. Democrats will have 212.

  That’s a mirror image of the start of the 117th Congress, when Democrats had 222 seats and Republicans had 212.

  Republicans flipped control of the lower chamber with key wins in multiple states, including California, Florida, and New York.

  Read more here…

  Tyler Durden
  Tue, 12/13/2022 – 23:25

• Cybersecurity Incident Report At California Finance Department
  Cybersecurity Incident Report At California Finance Department

  Ransomware is one of the most significant cybersecurity issues at all levels of government. The latest hack was reported Monday by the California Cybersecurity Integration Center (Cal-CSIC) that a cybersecurity incident involved the California Department of Finance.

  A statement published by Cal-CSIC described the threat as an “intrusion” that was “identified through coordination with state and federal security partners.”

  “While we cannot comment on specifics of the ongoing investigation, we can share that no state funds have been compromised, and the Department of Finance is continuing its work to prepare the Governor’s Budget that will be released next month,” Cal-CSIC said. 

  According to Bloomberg, the Russia-affiliated hacking group “LockBit” claimed on their blog that they swiped as much as 76GB of data, including IT, financial documents, confidential data, and “sexual proceedings in court.” 

  

  Cybernews reported LockBit threatened to leak data if unspecified demands were not met by Christmas Eve. Cybersecurity experts say such demands usually involve cryptocurrency. 

  Governor Gavin Newsom must unveil his budget for the next fiscal year by Jan. 10. Bloomberg added as of Monday afternoon, “the state’s website for past and current budgets remained inaccessible.” 

   

  Tyler Durden
  Tue, 12/13/2022 – 23:05

• Former CNN Producer Pleads Guilty In Pedo Scandal
  Former CNN Producer Pleads Guilty In Pedo Scandal

  Former CNN producer John Griffin, who worked ‘shoulder to shoulder’ with Chris Cuomo, pleaded guilty on Monday in federal court to using interstate commerce to entice and coerce a 9-year-old girl to engage in sexual activity as his Vermont ski house.

  

  This is a different CNN pedophile than Jake Tapper’s former producer, Rick Saleeby, who resigned after it emerged that he solicited sexually explicit photos of an underage girl.

  Griffin admitted to meeting the girl’s mother on a website during the summer of 2020, after which he persuaded her to bring the 9-year-old child to his Ludlow, Vermont ski home for illegal sexual activity, AP reports.

  According to the Daily Mail, Griffin ‘used Google Hangouts and Kik to convince the mothers that a “woman is a woman regardless of her age,” and that “women should be sexually subservient and inferior to men,” according to the indictment.

  In June of 2020, Griffin advised a mother of 9- and 13-year-old daughters that the mother’s responsibility was to see that her older daughter was “trained properly.”  Griffin later transferred over $3,000 to the mother for plane tickets so the mother and her 9-year-old daughter could fly from Nevada to Boston’s Logan airport.  The mother and child flew to Boston in July of 2020, where Griffin picked them up in his Tesla and drove them to his Ludlow house.  At the house, the daughter was directed to engage in, and did engage in, unlawful sexual activity.  

  Reading this indictment will make you sick to your stomach pic.twitter.com/61FugCnJNg

  — BUY PILLOW (@JackPosobiec) December 11, 2021

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

  Griffin, who originally pleaded not guilty to three counts, was arrested on Dec. 10, 2021, a day after he was indicted by a grand jury. He worked for CNN for around eight years, and was fired following his arrest.

  

  Griffin also allegedly attempted to entice two other children over the internet to engage in sexual activity – proposing a “virtual training session” in a video chat in April 2020 which would involve instructing a mother and her 14-year-old daughter to get naked and touch each other at his direction. 

  In June 2020, Griffin proposed to the purported mother of a 16-year-old that she take a “little mother-daughter trip” to his ski house for sexual training involving the minor.

  Griffin faces 10 years to life in prison when he’s sentenced on March 20, 2023, and must pay full restitution to the victims – an amount which is yet-to-be determined by the court. He also faces a $250,000 fine and other fees, and has agreed to forfeit his Tesla, electronics, and donate half the proceeds from his home in Vermont – and a Mercedes Benz, into the court registry.

  Tyler Durden
  Tue, 12/13/2022 – 22:25

• Which Countries Are Most Influenced By China?
  Which Countries Are Most Influenced By China?

  Authored by RFE/RL Staff via OilPrice.com,

  • A new index measures China’s influence around the world.

  • The China Index ranks Pakistan atop a list of 82 countries.

  • Germany is the highest-ranked European country at 19th and the United States leads North America in 21st position.

  Pakistan is the country in the world that is the most influenced by China, according to a new study that measures Beijing’s expanding global sway.

  

  The China Index — a database relaunched on December 8 by DoubleThink Labs, a Taiwan-based research organization — ranks the South Asian country atop a list of 82 other countries around the world, saying that its links to and dependency on Beijing in terms of foreign and domestic policy, technology, and the economy make it particularly susceptible to Chinese influence.

  Behind Pakistan, Southeast Asia features prominently in the rankings, with Cambodia and Singapore listed in second and third, followed by Thailand. The Philippines is seventh and Malaysia is 10th. South Africa is the first African country at No. 5, where it is tied with Peru, the highest-ranked South American country.

  Kyrgyzstan and Tajikistan, which border China’s western Xinjiang Province, are the Central Asian countries most influenced by Beijing, coming in at eighth and ninth place on the index.

  Meanwhile, Germany is the highest-ranked European country at 19th and the United States leads North America in 21st position.

  “A major goal of [of this database] is to raise awareness around the world about the different aspects of Chinese influence and what that can actually look like,” Min Hsuan-Wu, the co-founder and CEO of Doublethink Labs, told RFE/RL.

  “We’ve taken a much broader and nuanced look at what influence can be, which can tell us more about what Beijing is actually doing and the different ways it can apply pressure.”

  In compiling the China Index, the research team focused on nine categories to track influence around the world that include higher education, domestic politics, economic ties, foreign policy, law enforcement, media, military cooperation, cultural links, and technology.

  Wu says that this type of system leads to a more subtle understanding that challenges some assumptions about the levers of Chinese influence, most crucially around economics and trade.

  “There’s no one clear pattern for how China influences a country, but from the data we compiled, the economy isn’t the determinative one,” he said.

  “You can be economically independent but be tied in other ways, like with the military or a large Chinese diaspora that can be more influential.”

  Spotlight On Pakistan, Central Asia

  Given the diverse factors shaping the ranking system, Pakistan’s leading position is no surprise to longtime observers of the country’s relationship with Beijing, which was forged in the early days of the Cold War.

  The South Asian country is home to the China-Pakistan Economic Corridor, a centerpiece of Beijing’s globe-spanning Belt and Road Initiative in which Chinese entities have funded and built hundreds of billions of dollars’ worth of infrastructure projects in the last decade.

  Pakistan’s ties with China, however, have ballooned across nearly every category used to compile its ranking in the index, especially when it comes to areas like military ties, technology, and foreign policy.

  Shahzeb Jillani, a veteran journalist who helped compile research on Pakistan used for the database, says that many Pakistanis may be surprised to see their country ranking so high, but he hopes the findings will lead to greater debate and reflection about Islamabad’s deepening ties with Beijing.

  “One can only hope that this will encourage Pakistanis to debate the pros and cons of the relationship and what it could mean for the future,” he said.

  Central Asia has also seen its relationship with Beijing expand in recent years.

  While trade and investment were an early impetus, Chinese influence now plays a growing role in foreign policy, local media, and increasingly in defense and security. Following Russia’s February invasion of Ukraine, many analysts also see Central Asian countries deepening their China ties as they seek to diversify from Moscow.

  While Kyrgyzstan and Tajikistan rank in the top 10, Kazakhstan holds 15th place in the rankings, with Uzbekistan in the 24th spot, and Turkmenistan — which sells a large portion of its natural gas to China but remains geopolitically isolated — in 45th position.

  Measuring Influence

  Though the database includes just 82 countries, DoubleThink Labs plans to expand it in the future, especially across Africa, another area of rising Chinese influence recently, and to Russia, which declared a “no limits” partnership with Beijing in February.

  Wu says he hopes the China Index will be a valuable tool for comparison that can be used by researchers, activists, journalists, and watchdog groups around the world to get a better snapshot of the complex factors affecting their regions and the nuanced ways influence can be exercised.

  For instance, Britain is ranked the second-highest European country, 27th on the index. It is something that Martin Thorley, an independent academic who did research on the United Kingdom for the database, says is the result of local engagement through academia and ties forged between British cities and regions with their Chinese counterparts over the years, rather than at the state level.

  Wu adds that it’s hard to discern exactly how one country gets influenced more than another and that there’s no definitive “playbook” for Chinese influence. Rather, he says the recent research shows that Chinese policymakers tend to target certain countries within a region that have a lower barrier to entry and then branch outwards to neighbors based on the opportunities available.

  “There are some countries in every region that rank high on our index and can be seen as an entry point,” Wu said. “There’s lots of collaboration through one country and then it expands out.”

  Tyler Durden
  Tue, 12/13/2022 – 22:05

• Are Peru's Exports In Jeopardy As Social Unrest Worsens?
  Are Peru’s Exports In Jeopardy As Social Unrest Worsens?

  Peru’s president was pushed out of power and jailed hours after attempting to close congress and seize extraordinary powers last week. Political chaos spilled over into the streets and sparked social unrest. By Saturday, Peru’s new president, Dina Boluarte, established a moderate cabinet to calm fears, but political and social turmoil spilled over into the new week.

  There are increasing concerns in the South American country that instability could spark trade disruptions at major ports. On Monday, Bloomberg titled a note called “Peru’s Political Unrest Puts Global Fruit Supplies in Jeopardy.” 

  The Peruvian fruit trade with the US has dramatically increased in the last seven years. Fruits such as blueberries and grapes from the South American country end up on supermarket shelves in the US. Any disruption could impact prices or cause shortages. 

  

  However, Rabobank International’s David Magana spoke with Bloomberg about the Peruvian fruit trade amid all the chaos. He said:

  “The Peruvian fruit industry has become an exporting powerhouse despite political instability.”

  Crowds blocked highways and disrupted transportation networks across several metro areas last week. An escalation of political and social turmoil has gained momentum as anti-government protesters blocked roads and stormed the international airport Monday.

  Here’s the current heat map of protests/roadblocks in #Peru. Most are demanding new general elections following the power grab and fall of the Castillo government. pic.twitter.com/89QJoKqIzP

  — TechLibre (@NTechlibre) December 12, 2022

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  There has been no mention of major marine ports blocked, but one could assume some transportation networks are experiencing bottlenecks due to the chaos. 

  Oh yes, and we almost forgot… 

  Peru is the 2nd or 3rd largest producer of silver.

  BREAKING: Protests have been taking place for several days in Peru to demand the resignation of the new president and the release of President Castillo who has been deposed.

  The President announced early elections ⚠️⚠️⚠️

  🔊 pic.twitter.com/Hk90QdoWak

  — Wall Street Silver (@WallStreetSilv) December 13, 2022

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  Tyler Durden
  Tue, 12/13/2022 – 21:45

• Restricting Gun Rights Won't Prevent Tragedy
  Restricting Gun Rights Won’t Prevent Tragedy

  Submitted by Erich Pratt of Gun Owners of America.,

  As 2022 comes to a close, the Biden Administration has renewed its calls for gun control, including a ban on commonly-owned firearms, millions of which are currently in circulation.

  This isn’t the first time that we at Gun Owners of America have heard calls for shredding the Second Amendment. In fact, we’ve survived worse and come out on top.

  

  On the eve of the ten-year anniversary of the tragedy at Sandy Hook, it’s good for us to examine why these calls for so-called “assault weapon” bans continue even ten years later, and why they’re just as misguided and ineffective today as they were all those years ago.

  The tragic shooting at Sandy Hook is a testimony to the failure of gun control. 94% of mass shootings occur in Gun Free Zones, as these killers are looking for easy targets and know that it’s unlikely anyone will be armed and able to stop them. This is proven repeatedly, most recently with the Buffalo, NY shooter. He wrote in his manifesto about his decision to carry out his attack in a state like New York which has very strict gun laws, thus making it harder for someone to stop him.

  In the wake of the tragedy at Sandy Hook, there was a massive push for banning firearms that are commonly used for self-defense. But Gun Owners of America took action, and with the help of our members, we were able to stop the proposed gun control. This victory, of course, made the anti-gun lobby furious.

  “Gun Owners of America showed with one email alert that it could help flood the phone lines on Capitol Hill days before the Senate vote,” said National Public Radio after the gun control bill was defeated.

  While anti-gun politicians were frustrated by our members flooding the phone lines, GOA members simply knew the truth — gun control won’t stop these sorts of tragedies.

  But if gun control can’t stop mass shootings, what can?

  Almost 90% of police say that armed citizens are the best way to stop mass shootings and over 80% of police say that teachers should be armed.

  The data backs this up. Armed citizens stopped almost 50% of mass shootings last year.

  Often these cases of armed citizens stopping mass shootings are largely ignored by the mainstream media with their gun control agenda. The corporate media fails to report on the stories of Elisjsha Dicken, Jeanne Assam, Stephen Willeford, and countless others who’ve stopped mass shooters. 

  The corporate media specifically ignores the stories about armed citizens who stop mass shooters because they fail to promote their narrative that more laws will stop criminals who, by definition, do not follow laws.

  Even the Supreme Court, with their recent decision in NYSRPA v. Bruen, agrees that Americans have a right to self-defense against those who would do them harm outside their homes.

  The Biden administration and anti-gun governors nationwide will spend the rest of 2022, 2023, and beyond plotting how to get around the Bruen decision and pushing for so-called assault weapons bans through Congress or by unconstitutional executive fiat (or as Biden calls it, regulatory authority). But Gun Owners of America stands ready to fight these unconstitutional actions in Congress or, if necessary, in the courts.

  * * *

  We’ll hold the line for you in Washington. We are No Compromise. Join the Fight Now.

  Erich Pratt is the Senior Vice President of Gun Owners of America, a national grassroots lobby representing more than two million gun owners.

  Tyler Durden
  Tue, 12/13/2022 – 21:25

• Bitcoin Stops The Bleeding: A Sound Money System Is The Only Cure For What Ails Our Economy
  Bitcoin Stops The Bleeding: A Sound Money System Is The Only Cure For What Ails Our Economy

  Authored by Conor Chepenik via BitcoinMagazine.com,

  As fiat currencies slowly bleed out in value, they are disincentivizing saving. Bitcoin is a cure for the economic calamities…

  

  When a doctor operates on a wounded patient, the first thing they do is make sure they can stop the bleeding. No point operating if you can’t get the bleeding under control because the patient will die. Money facilitates mutual exchange and helps market actors coordinate price discovery — it is the literal blood of the economy. As fiat currencies slowly bleed out in value, they incentivize fewer people to save. If you want to stop the bleeding in your financial life, you are going to need to find a way to store your wealth in something else. There are plenty of options, but only one that is programmed to stop all bleeding in 2140.

  As peoples’ money bleeds out, so too does their education, time and, I’d even argue, their mental sanity. Blood isn’t oozing out egregiously, but rather being siphoned off from tiny cuts, so most people do not even realize it’s happening. This is a hard pill to swallow. Most Western societies teach people not to question authority: raise your hand if you want to ask questions, and trust the experts. Breaking out of this mentality is difficult. Watch this clip of the White House press secretary to get an idea of how those at the top will treat people who dare question the narrative.

  Watch: Bidens White House Press Secretary refuses to allow a reporter to question Dr. Anthony Fauci during his last press conference as the governments top doctor on the origins of Covid-19. pic.twitter.com/06SRLUQwd9

  — The Canadian Independent (@canindependent) November 23, 2022

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  PAIN IS THE BEST TEACHER

  Narrative is everything when trying to coerce the masses to accept a “Great Reset” (if you have no idea what the Great Reset is, you can read about it here). The scope of this article won’t cover what the Davos elite is attempting to impose on the rest of the world, but rather why Bitcoin stops money from bleeding out. Trying to calculate all of the variables that bring about the emergent, complex behavior of society is futile. Governments stole trillions of dollars via quantitative easing and blamed their theft on COVID-19.

  It should not be a surprise that what followed has been chaos in the form of protests and supply chain issues. The Federal Reserve is following up its quantitative easing with tightening monetary policy at record paces trying to get inflation under control. This demand destruction is wreaking havoc all over the economy but is necessary to weed out unprofitable businesses.

  For better or worse, pain is the best teacher. Hard Money recently reported that Trezor has seen a 300% increase in sales revenue after the FTX debacle. The whole point of Bitcoin is to not trust ,but verify for yourself. Many ignored this because FTX had the stamp of approval from many mainstream news outlets, politicians and celebrities.

  In the wake of its blow, FTX created tons of new Bitcoin maximalists who now understand why not verifying Bitcoin with your own node means that you are trusting potentially-corrupt third parties. The mainstream media is not doing itself any favors with puff pieces like the one below. Articles like this only serve to increase the pain of those who were robbed and convince more people that the mainstream narrative is corrupt:

  

  Source

  BUT SELF EDUCATION HELPS TOO

  The remedy to most of these problems is a better education. Tools like Saylor.org, Udemy and plenty of others have lowered the barrier tremendously. It just requires a desire to learn.

  For me, I found that desire by going down the Bitcoin rabbit hole. Ironically, answering one question would lead me to more questions and that number of questions grew exponentially. It made me wonder how much people are not taught intentionally during their traditional schooling. There is only so much time in the day and teachers must prioritize their curriculums accordingly. I just don’t understand why taxes, how to vote and basic financial literacy aren’t at the top of most public school curriculums. The reader can come to their own conclusions. What’s important is finding a teacher who speaks your language and a subject that brings out your natural curiosity. Learning becomes one of the most euphoric feelings in the world when those two needs are met.

  The standard way of learning has horrible mental models for teaching people, like memorizing things for a test. Oscar Wilde is quoted as saying, “Experience is merely the name men gave to their mistakes.” People are so focused on learning from the experts that they forget that those who changed the world didn’t ask for permission to do so. They just did it. People want a hero to fix all of their problems but the truth is that no one is coming to save you. I’m not saying one should not find great mentors; it’s super valuable being able to listen to those who have become experts in their fields in order to learn. I’m saying one should not worship people like gods who can’t make mistakes. Just look at Sam Bankman-Friend, who many thought was a hero.

  

  Source

  Despite all of the educational content out there, the reality is most people will come to understand the difference between paper bitcoin and bitcoin you actually hold the keys for via an expensive lesson. When the majority of Bitcoiners self custody their coins, and stop blindly trusting their heroes, that is when we will see fireworks in regards to bitcoin’s price action. Every person is different and has various forms of risk tolerance. For those who are discouraged by recent events, remember: Rome was not built in a day. Sometimes the only way to get a lesson through someone’s head is for them to suffer the pain of said mistake.

  FTX AND CENTRAL PLANNERS ARE NOT SO DIFFERENT

  What’s interesting about watching FTX fail so rapidly is that the same thing would happen with our traditional financial system if we didn’t have central banks acting as lenders of last resort. FTX violated its own terms of service by using customer funds to make bets, but 99.9% of the world just turns a blind eye when banks do this because their terms of service legally allow fractional reserve banking.

  In his book “Human Action,” Ludwig von Mises writes:

  “The rich, the owners of the already operating plants, have no particular class interest in the maintenance of free competition. They are opposed to confiscation and expropriation of their fortunes, but their vested interests are rather in favor of measures preventing newcomers from challenging their position. Those fighting for free enterprise and free competition do not defend the interests of those rich today. They want a free hand left to unknown men who will be the entrepreneurs of tomorrow and whose ingenuity will make the life of coming generations more agreeable. They want the way left open to further economic improvements. They are the spokesmen of progress.”

  Technology getting better should lead to massive deflation from productivity gains. Regulatory moats and monopolies prevent this. Fractional reserve banking creates an inflationary environment where tons of capital is misallocated. In a free market, most commercial banks would be insolvent.

  FTX tried to create its own fractional reserve monopoly by lobbying Congress and creating a regulatory moat around its business which would’ve made it impossible for competitors to compete in the crypto ecosystem. The world is fortunate FTX’s system blew up before it was able to get its way with D.C.

  Mises was right: It is not the incumbents who will create a more agreeable future, it is entrepreneurs and ideas competing in a free market. Bitcoin has over 10,000 competitors, and that number is growing every day. Many, if not all of these tokens, are Ponzi schemes in my opinion, but the idea that D.C could do a better job deciding this than the free market could is ridiculous.

  I understand regulation is difficult when technology is changing things at such rapid rates. The little piece of glass in our pocket allows us to hail a ride, order food or listen to some of the greatest minds on the planet whenever we want. All of these things would seem magical to someone who lived before the creation of smartphones. There are going to be hiccups along the way as humanity tries to come to grips with these new tools. This is why I keep this Hal Finney quote as my Twitter header:

  

  Source

  For all of the wonders that technology can do for humanity, it can also drive a whole new level of control. Free markets lead to optimal price discovery. Too much central planning and markets start to break. Price discovery in a free market is like a hash function. It takes inputs of data and spits out an output that only goes one way.

  With a normal hash, the algorithm works so that it is unfeasible to reverse-calculate the data. You can verify a hash by making sure the same output is achieved based on the input, but you can’t take the output and figure out the input. In this same vein, a free market will set the price of a good, but you can’t figure out how all of the labor, work, travel and other variables created the price of the good. The function only goes one way.

  Market actors get upset when the coercion variable is notched up and price increases happen. The blame is typically pushed on to the producers rather than the central planners who are causing such issues. Sound familiar? Like say the U.S. government, which is calling out greedy fossil fuel companies for raising the price of gas while at the same time advocating for the end of fossil fuel use. If price controls are imposed, price discovery completely breaks down, resulting in shortages. Until the creation of money is no longer heavily intermingled with politics these issues will continue to play out.

  BITCOIN IS MORE IMPORTANT NOW THAN EVER

  As central bank digital currencies (CBDCs) and digital identities are rolled out, it has never been more important to point out why Bitcoin is the remedy. Bitcoin allows the individual to go down a hero’s journey where they can keep the value of their labor in their head. CBDCs and digital IDs offer governments tools to enact monetary policy at the individual level, be at the center of every transaction and turn off people’s money as they see fit.

  Bitcoin offers a better system, one that no one can cheat if they want to be in consensus with the rest of the network. Preston Pysh said it best: “Bitcoin is like the infinity stone.” It takes a great deal of faith to hold on to an asset that has had multiple 70% to 90% drawdowns before recovering to new all-time highs. Not many can hang on to their bitcoin but those who do over long periods of time are greatly rewarded.

  The network effects of Bitcoin are insane. There is a Bitcoin website paying people 21,000 satoshis to post a sticker that it ships to you around their cities. Think about that. You can earn sats and increase the value of those sats by helping raise awareness. Bitcoin is full of these win-win scenarios. The tech is exciting, but the passion I see from Bitcoiners in real life is unlike anything I’ve ever seen before.

  Bitcoin as a technology, a new form of money and an idea are bringing hope to humans around the world who have been disadvantaged because governments have a monopoly on violence. Bitcoin empowers the individual to fight back like never before. There will be growing pains along the way and more turmoil in the short term for those obsessed with measuring things in fiat. The way to fix that is to orient yourself around the new system.

  The possibilities that will come out of this Bitcoin renaissance are endless. Grappling with what this new form of money means is difficult because the world is full of so many paradoxes. When you learn, you become smarter by ending up with more questions. Monopolies have brought about some of the most prosperous and technologically advanced times in human civilizations while also making George Orwell’s “1984” look like a very plausible path for the future. The internet is connecting people like never before and at the same time, loneliness is increasing. Number go up technology is associated with greed and is what initially attracts people to Bitcoin, yet many stay because they realize Bitcoin is the true effective altruism movement. These paradoxes are a bit mind bending but I do think there is value to be had from chewing on these ideas.

  It can be easy to get bogged down with all of the bleeding going on in the fiat world. Bitcoin is the Band-Aid to fix it. It gives me a lot of confidence knowing my money is secured by open-source software and math rather than 12 individuals who decide when it is okay to steal and when it’s time to practice fiscal austerity.

  I’m glad the Fed has finally decided to do the right thing for the economy but it has manipulated the cost of capital for so long that it now risks destroying the entire system if it keeps tightening. The problem is that the Fed’s only other option is to lower rates again, which causes more bleeding via inflation. Bitcoin offers humanity a way out of this paradox where central planners try to fix the bleeding by siphoning more blood out of the patient. Every time central planners manipulate the cost of capital it becomes more clear that market participants are playing a rigged game. Bitcoin is the fairest game humanity has ever created and the best chance we have of separating money and state.

  Tyler Durden
  Tue, 12/13/2022 – 20:45

• Investment-Grade Wine Outshines Stock Market In Tumultuous Year
  Investment-Grade Wine Outshines Stock Market In Tumultuous Year

  This has been an awful year for stocks and bonds as the Federal Reserve wreaks havoc on financial markets to tame the highest inflation in decades. Risks are now increasing that overtightening by the Fed could spark a hard landing in 2023. Most asset classes have been clubbed like a baby seal, while one has escaped the beatdown: investment-grade wine. 

  Investable wine is considered an ‘alternative asset’ by wealthy investors. Fine wine, with age, improves over time because there is only a limited supply of investment wines produced each year, or vintage, which must satisfy a growing global demand. 

  Despite risk parity investors deeply in the red, meme stock traders on Reddit wiped out, and crypto kids decimated, wealthy folks holding fine wine investments are sitting back without stress as they are set to lock in positive returns for the year. 

  The Liv-ex 1000 benchmark recorded a 13.6% increase year-to-date and a 44.6% rise over five years. What is most intriguing about investable wine is how it “acted like a defensive asset this year,” explained Topdown Charts founder Callum Thomas. 

  

  Thomas continued: “We also saw a similar thing during the dot-com burst bear market, and during the 2008 financial crisis. It goes to show that sometimes you have to be a little bit more creative to find defensive assets (in a year where traditional safe haven assets have disappointed e.g. gold basically flat for the year, and bonds down double-digits).”

  And many people might not be aware, but in economic downturns when lending standards are tightening, wealthy folks use wine collections, expensive artwork, and classic cars as collateral for loans while banks refuse to lend money to everyday folks. 

  Tyler Durden
  Tue, 12/13/2022 – 20:25

• 'Russian Disinformation' Narrative On Hunter Biden Laptop Story Proved False By Twitter Files, Trump DNI Says
  ‘Russian Disinformation’ Narrative On Hunter Biden Laptop Story Proved False By Twitter Files, Trump DNI Says

  Authored by Bill Pan via The Epoch Times (emphasis ours),

  The recently publicized internal Twitter communications have proven false the claim that the story around Hunter Biden’s laptop was a part of Russia’s disinformation campaign, former director of national intelligence (DNI) John Ratcliffe said Friday.

  “What I said as the DNI in October 2020 was proven true,” Ratcliffe wrote on Twitter. “The IC had zero intelligence supporting a false narrative that the Biden laptop was Russian disinformation. Nobody in the IC had authority to say otherwise.”

  

  Ratcliffe, who served as the nation’s top intelligence official and the principal intelligence adviser to President Donald Trump from 2020 to 2021, shared part of independent journalist Matt Taibbi’s post series, known as “Twitter Files.”

  In the multi-post thread, Taibbi used screenshots of email exchanges between company executives to illustrate Twitter’s biased content moderation decisions, including the suppression of the New York Post’s report of the link then-presidential candidate Joe Biden allegedly had with dubious foreign business dealings based on emails retrieved from a laptop once belonged to his son, Hunter.

  Twitter’s initial response to the story is to limit its reach, claiming at that time that this was based on the platform’s “Hacked Material Policy” that prohibited users from posting “content obtained through hacking.”

  One of those screenshots, according to Taibbi, shows that Yoel Roth, Twitter’s moderation and safety leader until his recent resignation, had been having a “weekly sync with FBI/DHS/DNI” regarding issues with “election security” in the wake of the laptop story.

  “Hacked Materials exploded. We blocked the NYP story, then we unblocked it (but said the opposite), then said we unblocked it… and now we’re in a messy situation where our policy is in shambles, comms is angry, reporters think we’re idiots, and we’re refactoring an exceedingly complex policy 18 days out from the election,” wrote one executive who is purportedly Roth.

  “Weekly sync with FBI/DHS/DNI re: election security,” the message continued. “The meeting happened about 15 minutes after the aforementioned Hacked Materials implosion; the government declined to share anything useful when asked.”

  Roth’s weekly meetings with law enforcement and intelligence officials may have involved separate meetings, where not all of them showed up, Taibbi reported.

  “I have to miss the FBI and DHS meetings today, unfortunately,” Roth wrote to a Twitter staffer, indicating that officials of the two agencies weren’t scheduled to meet with him together at once.

  None of these messages mentioned anything about Russia, although at that time many commentators, media outlets, and Democrat leaders—notably House Intelligence Committee Chairman Adam Schiff (D-Calif.), claimed that the controversy surrounding Hunter Biden’s laptop was a Russian disinformation plot.

  “We know this whole smear on Joe Biden comes from the Kremlin,” Schiff told CNN in October 2020, claiming that it was in Moscow’s interest to keep Trump in the White House. “Clearly, the origins of this whole smear are from the Kremlin, and the president is only happy to have Kremlin help in trying to amplify it.”

  Such assertion had prompted Ratcliffe to speak out, accusing the Democrats of trying to “politicize the intelligence.”

  “The intelligence community doesn’t believe that because there is no intelligence that supports that. And we have shared no intelligence with Adam Schiff, or any member of Congress,” Ratcliffe said in an interview with Fox Business following Schiff’s comments.

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

  Tyler Durden
  Tue, 12/13/2022 – 20:05

• "Digital Fentanyl": Lawmakers Introduce Bipartisan Legislation To Ban TikTok
  “Digital Fentanyl”: Lawmakers Introduce Bipartisan Legislation To Ban TikTok

  A group of bipartisan lawmakers led by Sen. Marco Rubio (R-FL) has introduced legislation that would completely ban the social media app TikTok from operating in the United States.

  

  “TikTok’s Chinese parent company, ByteDance, is required by Chinese law to make the app’s data available to the Chinese Communist Party (CCP),” reads a Tuesday statement from Rubio’s office. “From the FBI Director to FCC Commissioners to cybersecurity experts, everyone has made clear the risk of TikTok being used to spy on Americans. “

  Rubio – who introduced the Averting the National Threat of Internet Surveillance, Oppressive Censorship and Influence, and Algorithmic Learning by the Chinese Communist Party Act (ANTI-SOCIAL CCP Act) – is joined by Reps. Mike Gallagher (R-WI) and Raja Krishnamoorthi (D-IL), who introduced companion legislation in the US House of Representatives.

  “TikTok is digital fentanyl that’s addicting Americans, collecting troves of their data, and censoring their news,” said Gallagher. “It’s also an increasingly powerful media company that’s owned by ByteDance, which ultimately reports to the Chinese Communist Party – America’s foremost adversary.”

  Allowing the app to continue to operate in the U.S. would be like allowing the U.S.S.R. to buy up the New York Times, Washington Post, and major broadcast networks during the Cold War. No country with even a passing interest in its own security would allow this to happen, which is why it’s time to ban TikTok and any other CCP-controlled app before it’s too late. -Rep. Mike Gallagher.

  The app has come under intense scrutiny in recent weeks, including a lawsuit from the state of Indiana, a ban in South Dakota, calls to ban TikTok ‘everywhere,’ and hitting a major snag in negotiations with the Biden administration over national security concerns.

  One of the primary issues with TikTok – owned by Chinese company ByteDance, is where user data is housed.

  Both ByteDance and US officials struck a preliminary agreement that TikTok data on US users would be hosted by Oracle Corp. TikTok, meanwhile, says it will delete the private data of US users from its own data centers in Virginia and Singapore as it transitions to fully store data with Oracle. The company has also said that access to US data by anyone outside of a newly established division to govern US data security would be limited by, and subject to, its protocols – which would be overseen by Oracle.

  Certain administration officials, however, still aren’t comfortable with the arrangement, and have sought to make any TikTok security agreement stronger in some respects over concerns with the company’s access to consumer data, and its potential use for influence operations.

  “The federal government has yet to take a single meaningful action to protect American users from the threat of TikTok. This isn’t about creative videos — this is about an app that is collecting data on tens of millions of American children and adults every day,” said Rubio on Tuesday. “We know it’s used to manipulate feeds and influence elections. We know it answers to the People’s Republic of China. There is no more time to waste on meaningless negotiations with a CCP-puppet company. It is time to ban Beijing-controlled TikTok for good.”

  Republicans have been pushing to ban the app altogether.

  TikTok claims it doesn’t collect data on search and browsing history outside the app, though it does collect information within the app so that it ‘functions correctly,’ said the spokeswoman. For example, returning relevant search results and ensuring users don’t see the same videos multiple times.

  Former US President Donald Trump sought to ban TikTok unless it was a US-owned entity – which President Biden rescinded shortly after taking office in light of legal challenges.

  Tyler Durden
  Tue, 12/13/2022 – 19:45

• Censors Set Their Sights On Musk's Twitter Takeover
  Censors Set Their Sights On Musk’s Twitter Takeover

  Authored by Charlotte Allen via The Epoch Times,

  Not long after Elon Musk acquired Twitter with his promise of ending its censorship regime, a reporter from Reuters covering a White House press conference asked Karine Jean-Pierre, President Joe Biden’s press secretary, whether Twitter might become a “vector of misinformation.” Jean-Pierre’s response at the Nov. 28 press conference was:

  “This is something that we’re certainly keeping an eye on. Look, we have always been very clear that when it comes to social media platforms, it is their responsibility to make sure that when it comes to misinformation, when it comes to the hate that we’re seeing, that they take action, that they continue to take action. … We’re all monitoring what’s currently occurring.”

  That sounded pretty chilling. The idea that the government could be “monitoring” any part of any media for “misinformation” and “hate” speech—both of which are protected by the First Amendment unless they stray into defamation or incitement to imminent crime—ought to raise the hackles of anyone who cares about the Bill of Rights. And why, in particular, should social-media platforms have any legal obligation to “take action” against speech that might offend some people but is neither criminal nor libelous?

  

  But in fact, that is exactly what the nation’s two wokest states, New York and California, have already decided that social media platforms, a category that can include everything from Facebook to chatrooms and traditional journalism blogs with comments, must henceforth do.

  The New York law came first, in June, and it went into effect on Dec. 3. Realizing that free speech enjoys constitutional protection, New York’s legislators decided to outlaw only what they cagily called “hateful conduct.” But “hateful conduct,” as defined in the New York law, means “the use of a social media network to vilify, humiliate, or incite violence against a group or a class of persons on the basis of race, color, religion, ethnicity, national origin, disability, sex, sexual orientation, gender identity or gender expression.” Vilify? Humiliate? That sounds pretty much like … constitutionally protected speech.

  Disturbing as it may be to listen to a rant against Jews, for example, the Al Sharpton of the 1990s and the Kanye West of 2022 weren’t saying anything that could be prosecuted. But the New York law requires social media networks to post “clear and concise policy readily available and accessible on their website and application that includes how such social media network will respond and address the reports of incidents of hateful conduct on their platform.” That forces everyone with a blog to pay lawyers to draft a policy statement acceptable to New York regulators and then spend hours trying to “respond,” for example, to a woman who says she feels “humiliated” that the blogger has described her as overweight.

  ​The California law, signed by Gov. Gavin Newsom in September and set to go into effect on Jan. 1, at least has the virtue of exempting service providers with gross revenues of less than $100 million per year. It’s targeted at Bay Area tech giants such as Facebook’s parent company, Meta, and Twitter. But its reporting requirements are even more onerous. Every company that falls under the statute’s purview must submit a twice-a-year report to the California attorney general detailing its moderation policies, not simply for “hate speech” but for such categories as “racism,” “extremism,” “radicalization,” “disinformation or misinformation,” “harassment,” and “foreign political influence.” The company must list every instance that it flagged such content and how it handled it. State Rep. Jesse Gabriel, who introduced the bill that Newsom signed, said the new reporting requirements are designed to deal with “conspiracy theories and other dangerous content” allegedly widespread on social media.

  ​Neither the New York nor the California law explicitly censors disapproved forms of speech or requires social media platforms to do so. But their vague and subjective language (“vilify,” “extremism”) coupled with their threats of sanctions for noncompliance (a $15,000-a-day fine in California, a $1,000-a-day fine plus a possible attorney general’s investigation in New York) are powerful inducements for social media companies to play Big Brother. And in New York, for example, Attorney General Letitia James, responding to the mass shooting in March at a Buffalo supermarket that was briefly livestreamed, has called for even tougher restrictions on internet content, such as criminal and civil penalties for transmitting images that might inspire others to commit violent acts.   ​

  ​On Dec. 1, Eugene Volokh, a UCLA law professor and founder of the legal-news blog Volokh Conspiracy, together with two social media platforms, Rumble and Locals, filed a lawsuit challenging the New York content-moderation law on First Amendment grounds.

  “New York politicians are slapping a speech-police badge on my chest because I run a blog,” Volokh said.

  As for California, University of Santa Clara law professor Eric Goldman writes: “By prioritizing certain content categories, the bill tells social media platforms that they must make special publication decisions in those categories to please the regulators and enforcers who are watching them. The resulting distortions to the platforms’ editorial decision-making constitutes censorship.”

  ​And as we’ve learned from the Biden-administration press secretary, California and New York aren’t the only government entities whose “regulators and enforcers” are “watching” social media with an eye to cracking down. Musk’s takeover of Twitter and his relaxation of the site’s content-moderation policies that routinely muffled conservatives have outraged political progressives.

  A Nov. 23 report from the liberal Brookings Institution asserted that “hate speech” on Twitter, including derogatory references to Jews and blacks, had increased as much as 500 percent since Musk assumed control of the platform on Oct. 27. The report noted that the bulk of this invective came from about 300 troll accounts, but that didn’t stop Brookings from declaring, “When acquisitions of social media platforms occur, there should be an obligation of the new owner(s) to ensure that hate speech is moderated.”

  That was a broad hint to Congress and the Biden administration. Expect federal regulators to try to force some heavy-handed censorship of Twitter, Bill of Rights or no Bill of Rights.

  Read more here…

  Tyler Durden
  Tue, 12/13/2022 – 19:25

• Jack Dorsey Admits 'Biggest Mistake' Was Creating Authoritarian Censorship Toolbox
  Jack Dorsey Admits ‘Biggest Mistake’ Was Creating Authoritarian Censorship Toolbox

  Having had his little tête-à-tête with the current boss of Twitter – over Child abuse protection – the former boss of Twitter, Jack Dorsey, took to Twitter tonight to address a number of issues, including his take on The Twitter Files (which he appears to address as if he was an outsider) and his ‘biggest mistake’ as well.

  

  As a reminder, the current boss of Twitter had this to say recently about Dorsey’s role in the past:

  Absolutely! The real CEO was the head of “Trust & Safety”.

  — Elon Musk (@elonmusk) December 9, 2022

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

  Jack Dorsey titled the blog post ‘A native internet protocol for social media’ (emphasis ours):

  There’s a lot of conversation around the #TwitterFiles. Here’s my take, and thoughts on how to fix the issues identified. 

  I’ll start with the principles I’ve come to believe…based on everything I’ve learned and experienced through my past actions as a Twitter co-founder and lead:

  1. Social media must be resilient to corporate and government control.

  2. Only the original author may remove content they produce.

  3. Moderation is best implemented by algorithmic choice.

  The Twitter when I led it and the Twitter of today do not meet any of these principles. This is my fault alone, as I completely gave up pushing for them when an activist entered our stock in 2020. I no longer had hope of achieving any of it as a public company with no defense mechanisms (lack of dual-class shares being a key one). I planned my exit at that moment knowing I was no longer right for the company.

  The biggest mistake I made was continuing to invest in building tools for us to manage the public conversation, versus building tools for the people using Twitter to easily manage it for themselves.

  This burdened the company with too much power, and opened us to significant outside pressure (such as advertising budgets).

  I generally think companies have become far too powerful, and that became completely clear to me with our suspension of Trump’s account. As I’ve said before, we did the right thing for the public company business at the time, but the wrong thing for the internet and society. Much more about this here:

  I do not celebrate or feel pride in our having to ban @realDonaldTrump from Twitter, or how we got here. After a clear warning we’d take this action, we made a decision with the best information we had based on threats to physical safety both on and off Twitter. Was this correct?

  — jack (@jack) January 14, 2021

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

  I continue to believe there was no ill intent or hidden agendas, and everyone acted according to the best information we had at the time. Of course mistakes were made. But if we had focused more on tools for the people using the service rather than tools for us, and moved much faster towards absolute transparency, we probably wouldn’t be in this situation of needing a fresh reset (which I am supportive of). Again, I own all of this and our actions, and all I can do is work to make it right.

  Back to the principles. Of course governments want to shape and control the public conversation, and will use every method at their disposal to do so, including the media. And the power a corporation wields to do the same is only growing. It’s critical that the people have tools to resist this, and that those tools are ultimately owned by the people. Allowing a government or a few corporations to own the public conversation is a path towards centralized control.

  I’m a strong believer that any content produced by someone for the internet should be permanent until the original author chooses to delete it. It should be always available and addressable. Content takedowns and suspensions should not be possible. Doing so complicates important context, learning, and enforcement of illegal activity. There are significant issues with this stance of course, but starting with this principle will allow for far better solutions than we have today. The internet is trending towards a world were storage is “free” and infinite, which places all the actual value on how to discover and see content.

  Which brings me to the last principle: moderation. I don’t believe a centralized system can do content moderation globally. It can only be done through ranking and relevance algorithms, the more localized the better. But instead of a company or government building and controlling these solely, people should be able to build and choose from algorithms that best match their criteria, or not have to use any at all. A “follow” action should always deliver every bit of content from the corresponding account, and the algorithms should be able to comb through everything else through a relevance lens that an individual determines. There’s a default “G-rated” algorithm, and then there’s everything else one can imagine.

  The only way I know of to truly live up to these 3 principles is a free and open protocol for social media, that is not owned by a single company or group of companies, and is resilient to corporate and government influence. The problem today is that we have companies who own both the protocol and discovery of content. Which ultimately puts one person in charge of what’s available and seen, or not. This is by definition a single point of failure, no matter how great the person, and over time will fracture the public conversation, and may lead to more control by governments and corporations around the world. 

  I believe many companies can build a phenomenal business off an open protocol. For proof, look at both the web and email. The biggest problem with these models however is that the discovery mechanisms are far too proprietary and fixed instead of open or extendable. Companies can build many profitable services that complement rather than lock down how we access this massive collection of conversation. There is no need to own or host it themselves.

  Many of you won’t trust this solution just because it’s me stating it. I get it, but that’s exactly the point. Trusting any one individual with this comes with compromises, not to mention being way too heavy a burden for the individual. It has to be something akin to what bitcoin has shown to be possible. If you want proof of this, get out of the US and European bubble of the bitcoin price fluctuations and learn how real people are using it for censorship resistance in Africa and Central/South America.

  I do still wish for Twitter, and every company, to become uncomfortably transparent in all their actions, and I wish I forced more of that years ago. I do believe absolute transparency builds trust. As for the files, I wish they were released Wikileaks-style, with many more eyes and interpretations to consider. And along with that, commitments of transparency for present and future actions. I’m hopeful all of this will happen. There’s nothing to hide…only a lot to learn from. The current attacks on my former colleagues could be dangerous and doesn’t solve anything. If you want to blame, direct it at me and my actions, or lack thereof.

  As far as the free and open social media protocol goes, there are many competing projects: @bluesky is one with the AT Protocol, Mastodon another, Matrix yet another…and there will be many more. One will have a chance at becoming a standard like HTTP or SMTP. This isn’t about a “decentralized Twitter.” This is a focused and urgent push for a foundational core technology standard to make social media a native part of the internet. I believe this is critical both to Twitter’s future, and the public conversation’s ability to truly serve the people, which helps hold governments and corporations accountable. And hopefully makes it all a lot more fun and informative again.

  💸🛠️🌐

  To accelerate open internet and protocol work, I’m going to open a new category of #startsmall grants: “open internet development.” It will start with a focus of giving cash and equity grants to engineering teams working on social media and private communication protocols, bitcoin, and a web-only mobile OS. I’ll make some grants next week, starting with $1mm/yr to Signal. Please let me know other great candidates for this money.

  *  *  *

  As you might imagine, Dorsey’s holier-than-thou views prompted some pushback on social media…

  I agree users should be in charge of their own algorithms and a few other things. It’s a bit late for these epiphanies, sadly.

  — (((clevecarole))) (@Clevecarole) December 13, 2022

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

  If you knew how to fix it, why didnt you when you had the chance ?

  — Iain (@iain3000) December 13, 2022

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

  Too little to late.

  — Omnimatty (@omnimattyc) December 13, 2022

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  @jack You caved and history will remember you as a coward. That is all.

  — CryptoJbot (@CryptoJbot) December 13, 2022

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  You hired people that thought alike and then gave them free reign to do as they wished. They banned and suspended on a whim for wrong speak.

  — Tyrone Jackson (@TyroneBJackson) December 13, 2022

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

  This is pretty weak. I’d just accept the responsibility that Twitter was being run by a cult of middle managers who had personal opinions and vendettas against certain accounts. In addition, you allowed child exploitation, for that you should apologize.

  — Chef Andrew Gruel (@ChefGruel) December 13, 2022

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

  I read it, it doesn’t really make any sense.
  Summary: We did the right thing but it was the wrong thing. It was simultaneously not wrong at the time but clearly wrong at the time. I was the CEO but I was a nobody. There was nothing I could do but I had total power.

  — Lastdance 🇺🇦 (@Lastdance_LL) December 13, 2022

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

  Tyler Durden
  Tue, 12/13/2022 – 18:45

• "You Believe Your Fu**ing Intel Briefers?" Tucker Carlson Went Ballistic Over 'Russian Agent' Accusations
  “You Believe Your Fu**ing Intel Briefers?” Tucker Carlson Went Ballistic Over ‘Russian Agent’ Accusations

  Fox News host Tucker Carlson went off on the US intelligence community during an appearance on former Democratic presidential candidate Tulsi Gabbard’s podcast. He also called Senate Majority leader Chuck Schumer an “asshole” while discussing members of congress who are controlled by the intelligence community.

  

  Carlson recounted an incident where he wanted to interview Russian President Vladimir Putin before the Ukraine war, and reached out through a well-connected friend to do so. Carlson kept Fox and his producers in the dark, yet was given a ‘tap on the shoulder’ by one of his ‘closest friends” who knew a high-up official at the National Security Agency.

  After flying to Washington DC to meet in person, it was conveyed that the high-level NSA employee, who is a ‘secret fan’ of his show, knew that Carlson was “trying to get a Putin interview and go to Russia,” adding “they have your emails and your texts, and they’re going to leak them to the media to discredit you as a Putin lover.”

  Carlson then called a friend who is a US Senator, who told him that the US intelligence community accused him of being a Russian agent.

  “Michael McFaul, who I would say is the leader of the neocons in the House… I got into an argument with him once last year on the phone. He told somebody that I was a Russian agent or something, and I was outraged,” Tucker said, referring to the former US Ambassador to Russia under President Obama.

  

  “So I called him on the phone, and I used bad language. I was really mad. And he [McFoul] said ‘whoa, whoa, whoa’ – that’s what the intel briefers told me, that you were working for Russia.”

  “That’s what the intel briefers told you? You believe your fucking intel briefers? Like, how old are you son? I’m from DC. My dad was in this world. Like, you’re being manipulated by your intel briefers, DUH! And he’s like ‘well they had, you know, all kinds of corroborating evidence.'”

  Watch:

  (h/t @AMFirebrand)

  Carlson went on to discuss Sen. Chuck Schumer’s (D-NY) statement that “You take on the intelligence community, they have six ways from Sunday at getting back at you, so even for a practical, supposedly hard-nosed businessman, he’s being really dumb to do this,” regarding former President Donald Trump.

  “How could he say something like that?” Carlson said, adding “How could you, as the head Democrat in the Senate, accept a system where the people are not in charge? It is not a democracy. Unelected spy agencies are controlling the outcome of domestic politics, like, you’re ok with that?”

  “That’s a dictatorship, asshole,” Carlson added. “Like what do you think that is?“

  “And I couldn’t have less regard for Chuck Schumer and I know him and he’s not stupid, he’s not stupid at all,” Tucker continued. “He’s quite smart. So he’s never thought this through? He’s never thought it through? He has thought it through, and he accepts it as OK, and we should never accept something like that, ever.”

  Watch the entire interview below:

  Tyler Durden
  Tue, 12/13/2022 – 18:25

• China Shipyards Rake In Record LNG Tanker Orders Amid Russia Sanctions
  China Shipyards Rake In Record LNG Tanker Orders Amid Russia Sanctions

  Chalk up another way that China is benefitting from Western sanctions against Russia.

  First we saw China seize the opportunity to buy Russian oil at a steep discount. Now, China’s shipyards are racking up record orders for liquefied natural gas (LNG) tankers as world markets adjust to supply disruptions caused by the sanctions regime. 

  In 2022, China has scored 45 LNG tanker orders — quintupling the country’s tally from last year. Having assembled only 9% of the world’s existing LNG tankers, China captured 30% of this year’s orders and now accounts for 21% of global orders on the books, Reuters reports. That’s about $60 billion in business. 

  China’s growing presence in this speciality shipbuilding market represents demand spilling over from South Korea, which has long dominated the LNG tanker category. Hudong-Zhonghua Shipbuilding accounts for 75% of China’s 2022 orders. 

  

  South Korean shipbuilders have been deluged with orders for ships that will be used to transport gas from Qatar’s North Field expansion. That will bring huge growth in Qatar’s production capacity — to the extent that QatarEnergy’s CEO in October said his company will, within the next five to ten years, surpass Shell as the world’s largest natural gas trader. In that endeavor, Qatar is itself capitalizing on Europe’s drive to replace Russia’s pipeline gas with shipborne imports.  

  Building modern, membrane LNG tankers is a highly technical process that requires certification by Gaztransport & Technigaz (GTT), a the French company that holds the patents and licenses its designs to shipyards. The need for precision — as hundreds of workers painstakingly laser-weld seams inside 40-meter-tall LNG tanks — translates into build times of up to 30 months.   

  

  Some of the tanker demand is coming from China itself. SIA Energy’s Li Yao tells Reuters that China will need some 80 LNG tankers to haul 20 million tons of gas a year just from the United States. 

  Tyler Durden
  Tue, 12/13/2022 – 17:45

• Montana Law That Bars COVID-19 Vaccine Mandates In Health Care Settings Is Unconstitutional: Judge
  Montana Law That Bars COVID-19 Vaccine Mandates In Health Care Settings Is Unconstitutional: Judge

  Authored by Katabella Roberts via The Epoch Times (emphasis ours),

  A federal judge in Montana has ruled that parts of the state’s law preventing discrimination against individuals in health care settings based on their COVID-19 vaccination status are unconstitutional.

  

  Republican-backed House Bill 702 was passed in 2021 by the Montana Legislature as an anti-discrimination measure and signed into law by Republican Gov. Greg Gianforte in May of that same year.

  The bill banned employers from mandating that employees get vaccinated or share their vaccine status through an immunity passport.

  In a 41-page ruling on Dec. 9, U.S. District Judge Donald Molloy stated that the law was unconstitutional as it applies to employers and employees of health care settings.

  “No party questions the authority of the Montana Legislature and Governor to exercise their respective legislative or executive authority to enact or modify public health and anti-discrimination laws,” the lawsuit states. “Rather, the challenge, in this case, stems from an ostensibly purposed anti-discrimination statute and its incongruent impact on healthcare providers and patients, hospitals, nursing homes, doctor’s offices.”

  Law Fails to Deal Specifically With COVID-19

  State Attorney General Austin Knudsen and Department of Labor Commissioner Laurie Esau were named as defendants in the lawsuit.

  The lawsuit goes on to state that the law passed in 2021 failed to distinguish between vaccines and did not deal specifically with COVID-19, instead encompassing “all vaccines whether for measles, mumps, rubella, tetanus, diphtheria, pertussis, hepatitis, or flu.”

  This, in turn, plaintiffs argue, “caused critical concerns for health care providers whether hospitals, doctor’s offices or other medical facilities by limiting the ability of such providers to know the vaccination status of patients and employees.”

  Plaintiffs also argue that the law “preemptively precludes health care providers and other employers from knowing the vaccination status of employees or patients if the employee or patient refuses to answer any inquiry about vaccination status or immunity passports.”

  “That situation, for any number of reasons, creates untoward problems for healthcare providers of any description in trying to protect the environment where services to patients are rendered and to prevent the spread of diseases,” the lawsuit states.

  The lawsuit argues that the law as it pertains to health care settings violated a string of laws.

  In his ruling on Friday, Molloy said that plaintiffs had successfully argued that the law violated the Americans with Disabilities Act, the Occupational Safety and Health Act, and the Centers for Medicare and Medicaid Services regulations.

  Specifically, he said, plaintiffs had successfully argued that the law was preempted by the federal Americans with Disabilities Act which requires employers to consider accommodation to create a safe work environment for workers, including employees who are immunocompromised.

  ‘A Win for All Montanans’

  “Deprived by law of the ability to require vaccination or immunity status of an employee, a health care employer is not able to properly consider possible reasonable accommodations if an employee asks to limit his or her exposure to unvaccinated individuals,” wrote Molloy, a Clinton appointee.

  The judge further noted that HB 702 “removes an essential tool from the health care provider’s toolbox to stop or minimize the risk of spreading vaccine-preventable disease.”

  Read more here…

  Tyler Durden
  Tue, 12/13/2022 – 17:25

• US Set To Send Ukraine Patriot Missiles In Major Escalation 
  US Set To Send Ukraine Patriot Missiles In Major Escalation 

  CNN’s chief Pentagon correspondent is reporting the breaking news based on multiple anonymous US defense officials – including a senor Biden administration official – that the White House is currently finalizing plans to send Patriot missile defense systems to Ukraine.

  “The Biden administration is finalizing plans to send the Patriot missile defense system to Ukraine that could be announced as soon as this week, according to two US officials and a senior administration official,” CNN writes. “The three officials told CNN that approval is expected.”

  

  If approved, this could be a tipping point in the conflict leading to direct confrontation between nuclear-armed powers given transfer of Patriots would mark the longest-range missiles sent to Ukraine thus far.

  Washington has so far been reluctant, despite Kiev officials since nearly the start of the invasion making repeat pleas for the US to help “close the sky” – as President Zelensky many months ago urged Congress.

  As The Guardian reviewed of the dangers involved in sending the Patriot: 

  “Long sought by the Ukrainians, the missiles have a range of up to 300km, but so far the US and its allies, including the UK, have declined to supply them because they could be used to hit targets inside Russia. Supplying them would help “bring the war to an end as soon as possible”, Johnson said.

  Patriots have long been deployed in neighboring Poland, but Ukrainian leaders have been persistent in requesting them on their own soil amid a major uptick in recent Russian aerial attacks. Former UK prime minister Boris Johnson this week urged in a Wall Street Journal op-ed for the West to get serious about supplying Patriots and other anti-air systems, even including military aircraft.

  It’s likely to take some time to deploy the Patriots, given Ukrainians are expected to be trained on operating the sophisticated systems at the US Army base in Grafenwoehr, Germany, per officials cited by CNN. In the meantime Moscow is likely to react fiercely to the news, which could result in more intense and escalatory airstrikes on Ukrainian cities, and command and control bases. Washington, for its part will likely emphasize the purely “defensive” nature of the Patriot systems.

  Tyler Durden
  Tue, 12/13/2022 – 17:16

• Blackstone Might Delay New Private Equity Fund After Redemption Panic
  Blackstone Might Delay New Private Equity Fund After Redemption Panic

  Blackstone shares are down 39% year-to-date, as two of its funds, Blackstone Real Estate Income Trust (BREIT) and Blackstone Private Credit Fund (BCRED), enforced redemption limits given challenging macro conditions. 

  With both BREIT and BCRED redemptions capped, we can only envision investment advisors and portfolio managers have become increasingly concerned about whether they can pull money out of the non-tradeable funds. Increased panic by investors to withdraw could weigh on the performance of both funds and or spark liquidity issues. 

  “Redemption limits, rising rates and softening performance are likely to give investors and advisors pause going forward,” Barclays told clients in a recent note. Monthly data shows BREIT’s unfulfilled redemptions erupted in November. 

  

  Problems for Blackstone are only spreading. According to Financial Times, citing sources, the New York-based investment manager could delay the launch of the Blackstone Private Equity Strategies Fund, or BXPE, due to the unresolved issues surrounding BREIT and BCRED, dismal fundraising conditions, volatile financial markets, and aggressive Federal Reserve tightening monetary conditions to tame inflation. 

  BXPE was designed to invest in corporate buyouts and search for equity-oriented opportunities, including late-stage venture investments, musical royalties, and the purchase of stakes in other private equity firms. 

  Blackstone funds target wealthy investors. The question remains what do these high-net wealth people and their financial advisors know that has caused such a panic with BREIT and BCRED — could it be the understanding of increased risks of a hard economic landing in 2023?

  Tyler Durden
  Tue, 12/13/2022 – 17:05

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• Ancient Apocalypse & Graham Hancock's "Dangerous Ideas"
  Ancient Apocalypse & Graham Hancock’s “Dangerous Ideas”

  Authored by JR Leach via Off-Guardian.org,

  Why has the popular Netflix documentary ignited the ire of the media?

  

  It never ceases to amaze me what seemingly innocuous ideas the establishment media find ‘dangerous’ or ‘controversial’.

  Netflix recently released an eight-part documentary series titled Ancient Apocalypse, where Graham Hancock (who has a been a household name for “alternative archeology” since the release of his book ‘Fingerprints of the Gods’ in 1995), introduces us to his central theory that human civilisation is considerably older than current archeological orthodoxy believes, but that most evidence for this was wiped out by a colossal natural disaster around 12,000 years ago.

  He supports this theory with physical evidence for such a natural disaster, curious geological anomalies and seemingly ancient megalithic structures.

  He points out that the mainstream view of pre-history insists civilisation did not and had never existed before the year 4000BC, but that recent discoveries such as the Temple at Gobekli Tepe, which dates back to 9600BC call that mainstream view into question.

  He also collates mythic stories and old legends from over around the world that all reference some massive, global catastrophe. (Floods, earthquakes, giant snakes in the sky, strange visitors from across the sea etc.) And then emphasises their many eerie similarities.

  Through the collation of this research, Hancock then asks some questions of the mainstream view of our ancient history and posits a theory of his own – that ‘we are a species with amnesia’, who have forgotten our own past.

  These are not new ideas, solely from Hancock’s imagination. Immanuel Velikovsy said something very similar half a century ago, in fact his last book, published posthumously, was titled “Mankind in Amnesia”, and explored the psychological impact of us, as a species, repressing the memories and forgetting the stories that echo from a distant, traumatised past.

  These questions might sound intriguing to you, or you may be indifferent to them, or you may even vehemently disagree with them, but I bet you didn’t know they were racist, did you?

  That’s right. Racist. Don’t believe me, you conspiracy theorist? Just ask the Guardian.

  Yes, the Graun has spoiled us with not just one hit-piece, but two! All in the space of one week.

  Robin McKie writes his from an archaeological standpoint, while Stuart Heritage speaks as an entertainment critic. However, one is very much like the other. They both agree the Netflix series is wholly unacceptable. All of it. These are ‘dangerous ideas’ that shouldn’t be ‘allowed’.

  McKie alleges Hancock’s claims reinforce ‘white supremacist ideas’, because questioning the age of human civilisation

  …strip[s] indigenous people of their rich heritage and instead gives credit to aliens or white people”

  McKie further explains:

  Then there were the Nazis. Many swore by the idea that a white Nordic superior race – people of “the purest blood” – had come from Atlantis. As a result, Himmler set up an SS unit, the Ahnenerbe – or Bureau of Ancestral Heritage – in 1935 to find out where people from Atlantis had ended up after the deluge had destroyed their homeland.”

  There we have it, you see! Don’t even bother linking to any sources, Robin (which he doesn’t). I hear you, loud and clear. The idea of Atlantis is inherently racist, because the Nazis believed in it.

  The fact Hancock never mentions race, or white people (or aliens) in the series, nor (to the best of my knowledge) in any of his books, makes no difference to this.

  So, what are you going to do now? Keep researching the Atlantis myth?

  Like a Nazi would?

  Of course, going by this logic, we should really do away with Christianity as well. God in general, in fact.  Perhaps we should cancel Volkswagen and Wagner too. Nazis also brushed their teeth and wore shoes, I believe, neither of which shall I be taking part in from this day onwards, just to be sure.

  So, there we have it – Ancient Apocalypse is racist, even though it never mentions race.

  The remainder of their twin critiques are no better argued or supported by reality. Here is a typical example of the intellectual level they work on:

  For a story that was first told 2,300 years ago, the myth of Atlantis has demonstrated a remarkable persistence over the millennia. Originally outlined by Plato, the tale of the rise of a great, ancient civilisation followed by its cataclysmic destruction has since generated myriad interpretations.”

  It was this opening paragraph alone that prompted my response. As it is so uniquely meaningless.

  What does he mean by ‘For a story 2,300 years old it has demonstrated remarkable persistence’? As opposed to what? All those other stories that we don’t know about? How is that measurable, exactly?

  Besides, we have a plethora of stories and mythologies dating back two and half thousand years, and even much further into the past than that. Including all the Greco-Roman myths, plays by Sophocles and Aesop’s Fables. We have detailed legends and lore passed down from Ancient Egypt and Mesopotamia. The Old Testament fits the bill as well.

  And of course, Homer’s Iliad, which describes the fabled Trojan War.

  Let us remember that the City of Troy was also believed to have been just a myth until we discovered that it wasn’t. And I’m sure before 1870, when it was first discovered, that there was no shortage of academics decrying the search for Troy as a heretical waste of time.

  What is the essential attraction of the tale? For answers we only have to look at the works of Tolkien, CS Lewis, HP Lovecraft, Conan Doyle, Brecht and a host of science fiction writers who have all found the myth an irresistible inspiration.”

  Simplicity itself! The reason the Atlantis myth is so popular is because it’s so popular!

  Robin then asserts as fact that Plato intended the tale of Atlantis to be little more than an allegory.  There is no way of knowing that, of course, he merely asserts it and then goes into a Gish Gallop.

  “As to the likely site of the original Atlantis, the serious money goes on the destruction of the Greek island of Santorini and its impact on Crete and puts the blame on volcanic eruptions – not errant comets, as Hancock argues”

  Whoa there, Robin. Firstly, Graham Hancock never ‘argues’ that the Greek island of Santorini was struck by an errant comet. That is misleading. He argues that a comet struck somewhere in North America and rising sea levels may have obliterated an island civilisation (that Plato calls Atlantis) in the Atlantic Ocean. It’s only you, Robin, who is conflating this Atlantis myth with Santorini.

  [NB – Robin also fails to mention the physical evidence for just such an impact at the beginning of the Younger Dryas.]

  Secondly, should we not give credit where credit is due, and assume that Plato (and Solon, from whom Plato got the story, and the Dynastic Egyptians, from whom Solon got the story), most likely knew the difference between ‘inside the Mediterranean’ and ‘outside the Mediterranean’?

  If they place Atlantis beyond the Pillars of Hercules, should we not at least consider it possible that this is indeed where “the original Atlantis” was? (I invite readers to listen to Plato’s accounting yourselves and see what you make of it, here is an unabridged and well-produced reading.)

  The history of Santorini’s volcanic eruption was probably, by contrast, relatively well known. Santorini didn’t actually sink, after all, as Atlantis is said to have done. It’s still there. The Ancient Greeks called it ‘Thera’ and they were perfectly well aware of its existence. It shares no cultural, historical or technological similarities to Plato’s description of Atlantis at all, short of ‘being an island’.

  But none of that bothers McKie who at this point, and without ceremony, just sort of stops writing. Job Done. Atlantis debunked. What’s for lunch?

  Moving on to Stuart Heritage’s piece, which is thankfully briefer but in no way less smug. In his subheading he boldly asks:

  “Why has this been allowed?” 

  Allowed?

  I’m not sure which authority he’s calling on here. Netflix execs? Local, national or perhaps global government? Or maybe it’s rhetorical, and he’s beseeching the Lord God himself how such evil could come into the world.

  Beyond this, Stuart seems even less interested in debunking or debating these ‘dangerous ideas’ than McKie was, and far more focused on analysing and ridiculing its (presumed) target audience.

  Fortunately, Stuart, with his view unbiased and his mind wide open, has discerned exactly who that is in the first five minutes – because he saw (or thinks he saw) Joe Rogan and Jordan Peterson flash up in the pre-show reel.

  Joe Rogan appears in one quick interview, which is used in the first episode and the last.

  Jordan Peterson does not appear in this documentary at all.

  And I’m really not sure why Stuart thought he did. Perhaps he just didn’t watch closely enough to realise this before rushing his five-hundred words off to be published in one of the largest news outlets in the world.

  More notably when Heritage later amended the change, he just removed the ‘Jordan Peterson’ reference and neither he nor the editors or sub-eds even bothered to correct the syntax:

  “Fortunately, you don’t have to watch for long to find out. In quick succession, during the pre-show sizzle reel, we are treated to a clip of the show’s host Graham Hancock being interviewed by Joe Rogan.”

  The laziness is staggering.

  Just ‘a different person’. It’s not important who anymore. He’s not on the Guardian’s ‘naughty list.’

  Equally strangely, both McKie and Heritage seem to think ‘Ancient Apocalypse’ makes claims of ‘super intelligent beings’ and ‘aliens’, when it simply does not.

  Hancock’s argument – whether you accept it or not –   is that human beings were more advanced than academia admits. Not robots with flying cars, but more advanced than we currently give them credit for, and he cites evidence for this which both Stuart & Robin ignore in favour of critiquing Hancock for things he does not say.

  They cite no sources and debate no actual claims. They use buzzwords and identity politics in place of analysis and between the two of them couldn’t fill one page of A4. It’s as if even they (and their editors) had no faith or interest in what they were doing.

  Although Stuart does rather give the game away in his closing statement.

  “That’s the danger of a show like this. It whispers to the conspiracy theorist in all of us. And Hancock is such a compelling host that he’s bound to create a few more in his wake. Believing that ultra-intelligent creatures helped to build the pyramids is one thing, but where does it end? Believing that election fraud is real? Believing 9/11 was an inside job? Worse?” 

  He’s got me stumped there. Because, for the life of me, I literally can’t think of anything worse than ‘believing in election fraud’, which is obviously as fanciful as believing in the Loch Ness Monster. What next? Believing in tax evasion!?

  Presumably he’s referring to the 2020 US election. Because the Guardian has claimed fraud is very real in some elections. Russia, Syria, Bolivia, Brazil, Libya, Afghanistan, Iran and Venezuela to name a few.

  And they were pretty darn adamant that it was Russian collusion that got Trump into office in 2016.

  Stuart presumably believes election fraud is only a ‘conspiracy theory’ when it happens here, in the UK. Either that or he believes it has literally never happened. Ever. In the whole history of the world.

  Or perhaps he’s simply typing up any old nonsense just to get that word count a little higher. Sense and consistency be damned.

  Who’s to say?

  However, the fragile honesty underlying this is quite telling. He is essentially saying:

  “If people become sceptical of one thing, they may become sceptical of another.”

  Which is to be expected, but what I can’t understand is how anybody could think this is a bad thing.

  People should be sceptical. Scepticism in all things but cynicism in none. People should ask questions, and they should expect answers, especially from those who profess to know them. One should be open-minded and always pursue the truth. And to better decipher what that may be, we need people sharing new ideas, questioning the mainstream view and challenging the established narrative as new evidence presents itself. We need that. Science, progress and discovery all depend on it. Even if the ideas turn out to be false. Prove them false.

  In short: No one should be the gatekeepers of our history. Least of all those who laud their certitude in the face of the unknowable.

  The mystery is exciting. The evidence is compelling. The series is engaging. Even if none of it turns out to be true, the questions are still worth asking.

  These ideas are only ‘dangerous’ if you fear what they question.

  And those who fear questions fear the truth.

  Tyler Durden
  Mon, 12/12/2022 – 23:40

• Health Experts Urge Beijing To Accelerate Approval Of Enhanced Covid Jabs Amid 'Winter Wave' Of Deaths
  Health Experts Urge Beijing To Accelerate Approval Of Enhanced Covid Jabs Amid ‘Winter Wave’ Of Deaths

  China’s government dramatically pivoted from its ultra-harsh ‘zero Covid’ policy in the last several weeks, which will likely cause a massive outbreak, as health experts urged Beijing to speed up the approval process of new vaccines to counter Covid-19 variants. 

  Sinovac and Sinopharm Covid jabs have been widely distributed among the majority of the Chinese population to fight the original Covid strain from Wuhan in 2020. But old vaccines might not be enough to fight variants. 

  “We can’t rely on old vaccines which are currently being used nationwide going forward,” a Beijing-based adviser to the Chinese Center for Disease Control and Prevention told Financial Times. 

  The health advisor, who spoke under cover of anonymity, said CDC facilities “are filled with Wuhan virus-based vaccines that aren’t of much use.” 

  Beijing has yet to approve the latest version of the jabs to target more infectious Covid variants, leaving the older generation vulnerable this cold season. 

  According to a new projection by Feng Zijian, a former deputy chief at the CDC, relaxed health restrictions could result in 80 to 90% of the Chinese population being injected with the virus. 

  “It’s going to be inevitable for most of us to get infected once, regardless of how the Covid-fighting measures are adjusted,” Feng said. 

  While China faces a ‘winter wave’ of deaths as the economy reopens, Beijing has yet to import foreign-made messenger RNA vaccines. 

  The CDC adviser said that China needed “locally made mRNA vaccines in our toolbox,” which might not arrive until “next April.” There are seven domestic companies in the late stage of clinical trials. The advisor added clinical trial results for the improved Sinovac and Sinopharm jabs will be announced in March, then “the government may issue an emergency use license.” 

  Jin Dong-yan, a virologist at the University of Hong Kong, said the coming “tsunami” of infections means “China should have an accelerated mechanism for approval to change vaccines based on the circulating strains. There is no need for a full clinical trial.”

  Infections across the country are already moving higher. 

  Covid is rapidly spreading through Chinese households and offices after the country’s pandemic rules were unexpectedly unwound last week, sparking confusion on the ground as ill-prepared hospitals struggle to deal with a surge in cases. -Bloomberg 

  

  Dong-yan warned that by the time new jabs are approved, Covid variants would be the dominant strain:  

  “The regulatory body needs to show some flexibility. Ba. 5 is already giving way to BQ. 1.1 in the US and XBB in Singapore. He added: “They will never catch up.”

  So the question we have: Why did Beijing ease zero Covid policies when no preparations have been made to meet the coming winter ‘tsunami’ of infections? 

  Tyler Durden
  Mon, 12/12/2022 – 23:20

• What's Inside The House-Passed Military Spending Bill
  What’s Inside The House-Passed Military Spending Bill

  Authored by Joseph Lord via The Epoch Times (emphasis ours),

  The House of Representatives just passed the mammoth $858 billion National Defense Authorization Act (NDAA), an annual must-pass bill setting out defense spending levels.

  See what’s inside, and what was left out, below.

  

  Military Vaccine Mandate Repealed

  In a major win for Republicans and critics of President Joe Biden’s COVID-19 policies, this year’s iteration of the NDAA will include a repeal of a vaccine mandate for military service members.

  Biden announced in August 2021 that all federal employees, including military service members, would be required to take the COVID-19 vaccine or lose their job, despite a dearth of long-term testing on the vaccine.

  

  Republicans were opposed to the mandate from the beginning, calling it a violation of the personal liberty of citizens to make their own health decisions.

  Initially, service members who refused the vaccine were liable to face consequences up to and including court martial and dishonorable discharge. A dishonorable discharge, roughly the military equivalent of a felony conviction, can severely impact a service member’s life, as many employers will not even consider hiring someone with a less-than-honorable military discharge.

  Last year, the Senate passed a draft of the NDAA barring the Department of Defense (DOD) from dishonorably discharging service members solely for refusal to take the vaccine.

  However, the mandate remained in effect. Even after Biden boldly declared that “the pandemic is over,” the Pentagon refused to budge on its vaccine requirements.

  But in the past several weeks, efforts to repeal the mandate once and for all ramped up among Republicans.

  After rumors began circulating that the NDAA would undo the mandate, House Minority Leader Kevin McCarthy (R-Calif.)—the frontrunner in the race for the speakership of the 118th Congress—vowed during an appearance on Fox Business Network’s “Sunday Morning Futures” that his caucus would not pass the bill unless it ended the vaccine mandate.

  “We will secure lifting that vaccine mandate on our military because what we’re finding is, they’re kicking out men and women that have been serving,” McCarthy said. “That’s the first victory of having a Republican majority, and we’d like to have more of those victories, and we should start moving those now.”

  Democrats yielded on the issue, giving Republicans a major policy win.

  The passage of the bill through the lower chamber came just days after Defense Secretary Lloyd Austin expressed his desire to continue imposing the mandate.

  “We lost a million people to this virus,” Austin told reporters, although studies and data have shown the vast majority of people who died from COVID-19 were elderly or have compromised immune systems. “A million people died in the United States of America. We lost hundreds in DOD. So this mandate has kept people healthy.”

  

  Following the addition of the amendment ending the mandate, Sen. Rand Paul (R-Ky.), one of the most vocal critics of Biden’s diktat, applauded the outcome.

  “This is a big day for our men and women in the military,” Paul said in a tweet. “We won, and the NDAA will be amended to respect medical autonomy and religious freedom.”

  “These young men and women are willing to put their lives on the line, and now we’ve come forward to say they deserve to be treated with respect,” Paul said in a press conference.

  Sen. Marsha Blackburn (R-Tenn.), another key proponent of the amendment, also applauded the bill as “a huge victory for our troops.”

  No Reinstatement of Troops

  Though the bill will undo Biden’s mandate, hopes that the bill would reinstate those who were kicked out of the military for refusal to take the vaccine did not come to fruition.

  According to Defense Department data, 3,717 Marines, 1,816 soldiers, and 2,064 sailors have been discharged for refusing to get vaccinated against COVID-19, although a small portion has been allowed to remain in service owing to religious or medical waivers.

  As of Dec. 1, over 11,500 members of the Army, Army National Guard, and Army Reserve have declined to get vaccinated against COVID-19, Axios reported, while 97 percent of the Army’s active personnel received the shot.

  In an exclusive interview with The Epoch Times, Air Force Lt. Col Adam Conrad, who asked that his name be changed to protect him from retaliation by the DOD, said that he had “never seen morale so low” as it got after the imposition of the mandate.

  Various military bodies have been struggling to meet their recruitment goals in part over the vaccine mandate, with the U.S. Army reaching just 75 percent of its recruitment goal of 60,000 for this year, according to Army Secretary Christine Wormuth.

  Still, the NDAA will not reinstate those troops who were removed due to their opposition to taking the experimental vaccine.

  In a statement after the passage of the bill, McCarthy applauded the end of the mandate and suggested that Republicans will continue to work to reinstate discharged service members when they take control of the lower chamber in January.

  

  “The end of President Biden’s military COVID vaccine mandate is a victory for our military and for common sense,” McCarthy said. “Last week, I told the president directly: it’s time to end the COVID vaccine mandate and rehire our service members.”

  “While I applaud the end of this onerous mandate—the Biden administration must go further. Unfortunately, the mandate has already had negative consequences for our military,” McCarthy said, citing the difficulties that the military has faced in recruiting.

  “These heroes deserve justice now that the mandate is no more,” he continued. “The Biden administration must correct service records and not stand in the way of re-enlisting any service member discharged simply for not taking the COVID vaccine.

  “Make no mistake: this is a win for our military. But in 28 days the real work begins—the new House Republican majority will work to finally hold the Biden administration accountable and assist the men and women in uniform who were unfairly targeted by this Administration.”

  This may be a difficult promise to keep, however, as Democrats retain the upper chamber and will have substantial leverage over the House GOP majority.

  Another Million-Dollar Dole to Ukraine

  The bill will also grant another $800 million of taxpayer funds to the Ukraine Security Assistance Initiative as part of the U.S. effort to help Ukraine defend itself against an ongoing Russian invasion.

  The United States has already sent around $68 billion in humanitarian and military assistance to Ukraine in three major packages.

  The first aid package, passed as part of the $1.5 trillion omnibus spending bill for fiscal year (FY) 2022, sent Ukraine $13.6 billion. In May, Congress passed another standalone bill granting Ukraine $40 billion. Again in September, an additional $13.7 billion was sent to Ukraine.

  Though the appropriation is smaller than past handouts, Americans are in the dark as to how exactly Ukraine is using the aid.

  Alarmingly, reports indicate that weapons purchased with taxpayer funds have wound up as far afield as Nigeria, falling into the hands of terror groups.

  President Muhammadu Buhari of Nigeria said during a summit of African leaders that “the raging war in Ukraine serve[s] as major sources of weapons and fighters that bolster the ranks of the terrorists in Lake Chad Region.”

  He added, “A substantial proportion of the arms and ammunitions procured to execute the war in Libya, continues to find its way to the Lake Chad Region and other parts of the Sahel. Weapons being used for the war in Ukraine and Russia are equally beginning to filter to the region.”

  Because of this, calls have escalated among Republicans for Ukraine’s use of taxpayer funds to be audited.

  During a Dec. 9 hearing of the House Foreign Affairs Committee, a measure proposed by Rep. Marjorie Taylor Greene (R-Ga.) to audit the Eastern European nation was defeated by Democrats.

  “The American people deserve full transparency and oversight of where their hard earned tax dollars have gone and that’s why we should audit Ukraine,” Greene said in a Twitter post after the vote.

  “An audit isn’t pro or against Ukraine, it’s just the right thing to do.”

  The $800 million figure is far short of the $37.7 billion in additional aid for Ukraine requested by the White House at the end of November.

  Silence on Pentagon Abortion Policy

  The bill does not address a policy recently announced by Defense Secretary Austin that would see taxpayer dollars used to fund travel costs for women in the military to get abortions.

  The policy came in response to the Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization, in which the court overturned Roe v. Wade. As a result of this decision, the right to regulate abortions has been returned to state legislatures for the first time in nearly 50 years.

  Austin argued that because military servicemembers often have to travel for work, they should not be restricted from getting an abortion if they are stationed in a state with more restrictive abortion laws.

  “Our Service members and their families are often required to travel or move to meet our staffing, operational, and training requirements. Such moves should not limit their access to reproductive health care,” Austin wrote in an October memo.

  He contended that the “practical effects of recent changes” would harm military readiness.

  “In my judgment, such effects qualify as unusual, extraordinary, hardship, or emergency circumstances for Service members and their dependents and will interfere with our ability to recruit, retain, and maintain the readiness of a highly qualified force,” he wrote.

  Republicans were quick to blast the decision.

  Sen. Roger Marshall (R-Kansas) called it “outrageous,” and demanded that Senate Majority Leader Chuck Schumer (D-N.Y.) allow a vote on an amendment to prohibit it.

  While the text of the bill does not actively give the green light to this policy, it also does not contain language prohibiting it.

  The Pentagon is given a great deal of latitude on how it uses the funding granted by each year’s iteration of the NDAA. While large chunks of it are appropriated for specific purposes, a large proportion of these taxpayer dollars are left to the discretion of the Pentagon to spend as they will.

  This means that, if the bill passes with no prohibition of the policy, taxpayers will find themselves indirectly footing the bill for abortions in contravention of an existing law known as the Hyde amendment, which restricts the use of federal funds for abortions.

  Klobuchar Media Bill Fails

  An effort by Sen. Amy Klobuchar (D-Minn.) to attach a controversial bill rider to the package was rejected.

  Read more here…

  Tyler Durden
  Mon, 12/12/2022 – 23:00

• 'Just A Few Rogue Actors' Behind Banning Of Trump From Twitter; Nothing To See Here…
  ‘Just A Few Rogue Actors’ Behind Banning Of Trump From Twitter; Nothing To See Here…

  Authored by Sundance via TheConservativeTreehouse.com,

  The fifth installment of the Twitter Files release drops today courtesy of Ms. Bari Weiss [READ HERE]. The focus of Ms Weiss was on the decision to ban President Donald Trump from the platform, and her outline walks through the events leading up to the decision to remove him.

  

  After a review of internal discussions, slacks and conversations within the social media platform, ultimately the officers within the company decided to protect their view of democracy by removing their biggest ideological opponent.

  The Twitter executives justified their actions by echo-chambering a belief that President Trump was tweeting “coded messages,” the secret transmission of thoughts that can only be received by those wearing red hats, tuned to a specific psychological frequency.  As Weiss notes: “Less than 90 minutes after Twitter employees had determined that Trump’s tweets were not in violation of Twitter policy, Vijaya Gadde—Twitter’s Head of Legal, Policy, and Trust—asked whether it could, in fact, be “coded incitement to further violence.”

  President Trump tweeted the term “American Patriots,” which would be viewed by the Twitter ideologues as something akin to “the leader of a terrorist group responsible for violence/deaths comparable to Christchurch shooter or Hitler and on that basis and on the totality of his Tweets, he should be de-platformed.”

  It did not take long for the narrative to embed as the most senior Twitter regulatory officers assembled. “One hour later, Twitter announces Trump’s permanent suspension “due to the risk of further incitement of violence.”

  The entirety of Twitter File #5 release surrounds this internal Twitter dynamic, carefully avoiding any discussion or sunlight from outside government actors who may have been in direct contact with the senior Twitter team.

  Indeed, the documents chosen to provide evidence of the debate and decision to remove President Trump are transparently devoid of any inbound government contact to the Twitter organization.

  Thus, at the end of Ms. Weiss carefully written expose’, she concludes with this:

  

  See, it’s only “a handful of people at a private company“…. Nothing to see here folks, move along, move along.

  Apparently, DHS, FBI and CISA officials were involved in direct contact with Twitter through their DHS “trusted partnership” portal to get rid of innocuous rebel voices and influence agents like Dan Bongino, Q conspiracy theorists, and various COVID doctors who were providing information against the interests of the government.

  However, when it came to removing the most powerful voice of President Donald John Trump, there was nothing but static radio silence from the government side of the DHS portal.

  You getting this?

  Do you see how this is presented?  “A handful of people at a private company,” that’s the story and they are sticking to it. Swear.

  Move along folks, move along.  Nothing to see here, just move along.

  That sound you hear in the background is not Ms. Bari Weiss providing an application of spray paint after careful Bondo application.

  Comrades, the social media messaging vehicle known as Twitter is a clean/refreshed information & communication platform as provided by the magnanimity of Mr Elon Musk, unknown financial underwriting notwithstanding.

  Brilliant.

  Now, let’s talk about President DeSantis…

  

  Tyler Durden
  Mon, 12/12/2022 – 22:20

• Japan, Netherlands Agree To US Request To Curb Chinese Chip Exports
  Japan, Netherlands Agree To US Request To Curb Chinese Chip Exports

  In a move that is sure to set Sino-Japanese relations several years back, on Monday morning Japan and the Netherlands agreed “in principle” to join the US in tightening controls over the export of advanced chipmaking machinery to China, Bloomberg reported cited according people familiar with the matter, in what is the latest “potentially debilitating blow to Beijing’s technology ambitions.”

  The news follows a report from Japan’s Kyodo according to which, the US had “asked the Japanese government for cooperation in stymieing China’s efforts to develop high-end semiconductors.” The request, noting that the countries are allies sharing strategies against China, was made by U.S. Commerce Secretary Gina Raimondo during her phone conversation with Japanese industry minister Yasutoshi Nishimura on Friday, according to the sources.

  

  The request made to Nishimura was the first ministerial one from the United States on the issue. Washington’s push to create a multilateral regulatory framework comes amid concerns that there will be loopholes in its export controls if Japan and the Netherlands continue to provide China with devices essential to manufacture advanced chips. It comes after the United States unveiled a sweeping set of export controls on certain high-end chips that could be used by Beijing to train artificial intelligence systems and power advanced applications in the military and surveillance fields.

  Last week, Bloomberg News reported that Dutch officials were planning new export controls on China. The Japanese government agreed to similar restrictions in recent weeks since the two countries wanted to act in concert. Japan had to overcome opposition from domestic companies that would prefer not to lose sales into China, sources said. Besides Tokyo Electron, Nikon and Canon are minor players in the market.

  In response to the back-door US pressure, Japan and the Netherlands are likely to announce in the coming weeks that they’ll adopt at least some of the sweeping measures the US rolled out in October to restrict the sale of advanced semiconductor manufacturing equipment, according to the people, who asked not to be named because they are not authorized to speak publicly on the matter. The Biden administration has said the measures are aimed at preventing Beijing’s military from obtaining advanced semiconductors.

  The three-country alliance – if it comes to pass – would represent a near-total blockade of China’s ability to buy the equipment necessary to make leading-edge chips, according to Bloomberg. The US rules restricted the supply from American gear suppliers Applied Materials Inc., Lam Research Corp. and KLA Corp. Japan’s Tokyo Electron Ltd. and Dutch lithography specialist ASML Holding NV are the two other critical suppliers that the US needed to make the sanctions effective, making their governments’ adoption of the export curbs a significant milestone.

  “There’s no way China can build a leading-edge industry on their own. No chance,” said Sanford C. Bernstein analyst Stacy Rasgon.

  The three countries are the world’s top sources of machinery and expertise needed to make advanced semiconductors. ASML shares added to losses in Amsterdam on the news and were down 2.2%, in late Monday trading.

  Senior US National Security Council official Tarun Chhabra and Under Secretary of Commerce for Industry and Security Alan Estevez were in the Netherlands late November to discuss export controls, Bloomberg reported, while Commerce Secretary Gina Raimondo talked about the same issues with METI chief Yasutoshi Nishimura via teleconference last week.

  With the move, Dutch and Japanese officials will essentially codify and expand their existing export control measures to further restrict China’s access to cutting-edge chip technologies.  The two governments are planning to impose a ban on the sale of machinery capable of fabricating 14-nanometer or more advanced chips to China, Bloomberg sources said. The measures align with some rules Washington set out in October.

  The 14nm technology is at least three generations behind the latest advances available on the market, but it is already the second-best technology that China’s chipmaking champion Semiconductor Manufacturing International Corp. owns.

  Tyler Durden
  Mon, 12/12/2022 – 22:00

• Grand Jury Indicts Former Loudoun County Superintendent Scott Ziegler, Top Spokesperson
  Grand Jury Indicts Former Loudoun County Superintendent Scott Ziegler, Top Spokesperson

  Authored by Zachary Stieber via The Epoch Times,

  A special grand jury has indicted two Loudoun County officials for making false statements, according to indictments made public on Dec. 12.

  

  Grand jurors indicted Scott Ziegler, the just-fired county superintendent, on three counts, including false publication, according to copies of the indictments obtained by The Epoch Times.

  That count stemmed from Ziegler “knowingly” transmitting to media outlets on or about June 22, 2021, a “false and untrue statement.” The statement was not identified.

  They also indicted Wayde Byard, a top spokesperson for Loudoun County Public Schools (LCPS), on a count of perjury.

  LCPS and Byard did not immediately respond to requests for comment. Ziegler could not be reached.

  “We are beyond pleased that the families who were harmed by the egregious failures of the leadership of Loudoun County Public Schools, exacerbated by its repeated acts of deceit and dishonesty, will receive some measure of justice,” Ian Prior, executive director for the Fight for Schools Group, said in a statement.

  The indictments were released shortly after a report from the special grand jury found that Ziegler lied when he claimed in June 2021 that he was not aware of any assaults occurring in school bathrooms.

  According to emails, Ziegler was, in fact, aware that a 15-year-old girl was assaulted the previous month by a male student inside a bathroom at Stone Bridge High School.

  The principal of the high school told grand jurors that the statement was “not true” and another witness said it was a “bald-faced lie.”

  Ziegler later claimed to misunderstand the question that prompted his false statement.

  Loudoun County school officials did not record instances of sexual assault despite being required to do so.

  The same male assailant, who has been described as “gender fluid,” went on to assault another female student at a different school in October 2021. He was found guilty of both assaults and sentenced to juvenile detention until he is 18.

  Grand jurors said they were largely stonewalled by LCPS and Loudoun County School Board members during the investigation.

  “We expected these public servants to provide clarity, transparency, and a willingness to report truthfully to their constituents. Instead, we were met with obfuscation, deflection, and obvious legal strategies designed to frustrate the special grand jury’s work,” they said.

  The board voted on Dec. 6 to fire Ziegler without cause. Board chair Jeff Morse told reporters that the board was “misled” by Ziegler. Morse declined to say whether any other officials mentioned in the report should be fired.

  The grand jury was convened by Virginia Attorney General Jason Miyares, a Republican, at the direction of Virginia Gov. Glenn Youngkin, another Republican. Both entered office in January.

  The school board failed in attempts to block the investigation, with the Virginia Supreme Court finding that the board had not offered any convincing arguments for why the investigation infringed on its oversight of schools in the county.

  Other Counts

  The other two counts against Ziegler relate to Erin Brooks, a special education teacher who sued LCPS in June for allegedly failing to protect her against being sexually assaulted and retaliating against her when she spoke out about the matter.

  The suit says Brooks was assaulted dozens of times each day starting in February and that tactics she attempted did not work.

  Brooks messaged and met with school administrators but LCPS personnel who were in positions to intervene “repeatedly dismissed and ignored” her pleas for help, the filing states.

  Brooks was later falsely deemed to have released personally identifiable information and undertook unprofessional conduct and the school board released a statement about her that was defamatory, the suit says. LCPS also decided against renewing her contract, which was allegedly done out of retaliation.

  One of the new indictments says that Ziegler unlawfully fired or took adverse action against Brooks. The other says that he unlawfully used his position to retaliate or threaten to retaliate against Brooks “for expressing views on matters of public concern or for exercising any right that is otherwise protected by law.”

  All three of the counts against Ziegler are misdemeanors.

  Ziegler faces up to 12 months in prison and up to $3,500 in fines if convicted.

  The count against Byard is a felony.

  Byard faces between one and 10 years in prison and a fine of up to $2,500.

  Interim Superintendent Appointed

  The board appointed Daniel Smith as interim superintendent.

  “I accept the challenges that come with my new role. And I look forward to refocusing the efforts of our employees on maintaining and improving a world-class school division,” Smith, who had been chief of staff at LCPS since April, said.

  Morse said he and vice chair Ian Serotkin reached out to Smith for the position because they viewed Smith as “an important stabilization factor” when observing him closely as chief of staff. In addition, Smith wasn’t present during the two sexual assaults in 2021.

  Smith assured the reporters on the night of his appointment, “Absolutely, our kids are safe, and that’ll remain our priority.” He said his priorities would be ensuring that the school division “focused on teaching and learning of our kids.”

  Morse said the board would embark on a nationwide search for a permanent superintendent to have the recruit in place by July 1, 2023, to be ready for the 2023–2024 school year.

  The board has another meeting scheduled for Dec. 13. Agenda items include reviewing and discussing the recommendations outlined in the grand jury report.

  The board will “consider meaningful approaches to address those recommendations,” the agenda states.

  Tyler Durden
  Mon, 12/12/2022 – 21:40

• Putin Unexpectedly Cancels Annual Year-End Marathon Press Conference
  Putin Unexpectedly Cancels Annual Year-End Marathon Press Conference

  Likely we are about to witness an avalanche of further Western media speculation as to Russian President Vladimir Putin’s alleged ‘deteriorating health’, given the Kremlin announced Monday he’s decided to cancel his annual end-of-year press conference, which is a first in ten years.

  “As for the big press conference, yes, it won’t happen before the New Year,” Kremlin spokesperson Dmitry Peskov told reporters in a regular press briefing. “But we hope that the president will still find an opportunity to talk with [journalists], as he regularly does, including during foreign [visits],” Peskov added.

  

  No reason was given by Peskov for the break from the long-standing tradition of the Russian leader. Putin has been rare among world leaders for on certain occasions giving very lengthy, sometime multiple hours-long, press conferences and Q&A back-and-forths, for example at annual events like the Valdai Discussion Club.

  His latest Valdai appearance in October included the longest speech yet, given before hundreds of reporters and officials, and clocking in at a record-breaking 3 hours and 40 minutes.

  A typical year-end press conference also goes on for hours, and is widely looked upon as one of the biggest Russian political events of the year, resulting in an array of headlines as Putin tends to address everything from foreign policy, to energy policy, to societal ills of the West such as gender ideology and the ‘woke’ invasion of culture.

  At last year’s 4-hour end of year event, high on the agenda was looming conflict with Ukraine. When asked at the time about the potential for military action, the Russian leader had asserted “This is not our choice, we do not want this.”

  Throughout the now 10-month long ‘special operation’ in Ukraine, there’s been widespread speculation and rumors about Putin’s health, ranging from reports that he has Parkinson’s disease or even cancer. Some reports have gone so far as to suggest the risky Ukraine invasion is related to worsening health in the Russian president impacting his personality and decision-making. However, the Kremlin has batted these theories down at every turn, and as yet there’s no firm evidence pointing to severe health decline.

  Tyler Durden
  Mon, 12/12/2022 – 21:20

• 4 Minutes Of Undiluted Truth On Mainstream TV
  4 Minutes Of Undiluted Truth On Mainstream TV

  Authored by Mike Whitney,

  The last thing you’d ever expect to hear on a mainstream news channel, is the truth.

  But – strange as it might seem – that’s exactly what happened on Wednesday night on the Tucker Carlson Show. Carlson interviewed veteran journalist Glenn Greenwald in a 4-minute segment that provided the best ‘easy-to-understand’ summary of the Ukraine War you’ll hear anywhere.

  And what was so shocking about the interview, was how casually both men veered onto topics that are essential to grasping “How we got to where we are today” but which are entirely banned on all the other cable news channels. 

  You are not allowed to know, for example, that Russia was “lured into the conflict in Ukraine”. That does not fit the script that has been passed-along from the Biden State Department to their lapdogs at the cable news stations. You’re also not allowed to know that the US does not fight wars “to spread democracy” or that “the US has no vital interests in Ukraine” or that “Russia is not really our enemy”. All of those topics are verboten. You’re not even allowed to think about these things, which is why– for the most part– they have been completely scrubbed from any-and-all discussion of foreign policy in the corporate media.

  That’s what makes the segment with Greenwald such a stunner, because it’s 4 glorious minutes of pure, unvarnished truth delivered from a platform that typically only produces, lies, disinformation and propaganda. 

  Glenn Greenwald @ggreenwald: “If you want to believe the fairy tale that the US government goes to war to spread democracy, Ukraine is not the place for you.” pic.twitter.com/dxgaVNYuj7

  — The Post Millennial (@TPostMillennial) December 8, 2022

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

  That’s why I transcribed the entire interview. Any mistakes are mine. Here it is:

  Tucker Carlson– What bothers me is not so much what Zelensky is doing– there’s a lot of tyranny abound the world (and) I don’t brood on it. But the fact that (a) we are paying for it, and (b) our leaders are defending it. I think every American should be upset about that.

  Glenn Greenwald– “I think in general, Americans should be very skeptical when the government says ‘We’re going to fight wars on the other side of the world and spend tens of billions of dollars in military aid to spread democracy.’ The US government doesn’t actually care about spreading democracy. Many of its closest allies in the world have always been some of the world’s most despotic regimes like Saudi Arabia and Egypt. All the US government cares about is whether these regimes serve US interests. …If you want to believe the fairy tale that the US government goes to war to spread democracy, then Ukraine is not the place for you. You mentioned the argument that ‘Zelensky is in war, he has to curb liberty’, but go back to 2021, a year before Russia invaded and you’ll find articles where he shut down opposition television stations and shut down opposition political parties (which is) the hallmark of what every tyrant or despot does….and that was true even before Russia invaded.”

  Tucker Carlson– I wonder how Republicans can continue to defend this (because) I think you are right; I think our foreign policy is almost always about defending our interests…. But I don’t see our critical interests at stake here, so, what is this about?

  Glenn Greenwald– If the US government was honest… they would get rid of this script that we have to go and defend democracy. That is a fairy tale that tries to get Americans to feel better about the fact that we are involved in many, many countries all over the world. That is not the real reason. The only reason to do it is for ‘vital US interests’. The line in Washington for decades was the US has no vital interests in Ukraine. That was Obama’s view, that was the bipartisan view. Why did that change? The only reason is because we saw an opportunity to trap Russia inside Ukraine all based on the view that Russia is our enemy (which is) something only Democrats should believe because they think Russia is to blame for the 2016 election and Hillary’s defeat. But why would Republicans want confrontation with Russia? What American benefits from that except arms manufacturers? …

  Tucker Carlson– That’s a really good question, and I haven’t unraveled it. (But) It seems pretty clear that the Biden administration baited Russia into this invasion. You had the Vice President (Kamala Harris) in western Europe days before telling Zelensky to join NATO which, of course, they knew was a red line (for Russia) They wanted this invasion, I think that’s very obvious. Do you think this was all about ‘preparing for war with Russia’?

  Glenn Greenwald– If you think Russia is a grave enemy of the United States, then it makes sense to try to lure them into a war that they can’t win, like we got lured into Afghanistan for 20 years or like we lured the Soviet Union into Afghanistan back in the ’70s because it does deplete your enemy. The question is: Why should Russia be seen as our enemy? Both Obama and Trump said there’s no reason to see Russia that way. It has one-fifteenth the size of our military budget. It’s not threatening American borders. Why are we so obsessed with spending tens of billions of dollars to weaken Russia which we could be using here at home to benefit the lives of American citizens when Russia is not doing anything to the United States unless you are a crazy ‘resistance’ person who believes they’re the reason Donald Trump won. But if you don’t believe that, what is the rational for this? There is none.”

  Tucker Carlson– “I know, and as always, they have hijacked the best instincts of the American people, their compassion, and turned it against them. Glenn Greenwald, great to see you tonight”.

  Tyler Durden
  Mon, 12/12/2022 – 21:00

• Biden Fires Kinky They/Them Luggage-Stealing Nuke Official
  Biden Fires Kinky They/Them Luggage-Stealing Nuke Official

  Who could have seen this coming?

  they/them are/fired pic.twitter.com/QYHTam2spK

  — zerohedge (@zerohedge) December 13, 2022

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

  Having been accused of stealing luggage from airports in two separate incidents, President Biden’s non-binary deputy assistant secretary for spent fuel and waste disposition has left the administration.

  A Department of Energy spokesperson said on Monday evening:

  “Sam Brinton is no longer a DOE employee. By law, the Department of Energy cannot comment further on personnel matters.”

  Brinton, 35, who was appointed in June, faces charges for the incidents at both the Las Vegas and Minneapolis airports and they are due in court in Minnesota on December 19.

  

  The White House has repeatedly refused to comment on the scandal, claiming it is a non-political issue.

  

  The Department of Energy has also tried to distance Biden from the issue.

  We are sure the groundswell of the Alphabet-Twitter will be up in arms decrying the Biden administrations decision to fire the klepto as some brazen act of prejudice and bias is some form transphobism?

  Tyler Durden
  Mon, 12/12/2022 – 20:40

• A Tale Of Two Narratives: Twitter Edition
  A Tale Of Two Narratives: Twitter Edition

  Authored by Raul Ilargi Meijer via The Automatic Earth blog,

  We’ve done quite a few episodes of commenter TAE Summary’s “Tales of Two Narratives” through time. Let’s add this one, why don’t we. Reading through -especially- Twitter, the past 24 hours or so, it struck me how fitting this is. We’re talking narratives that are so many light years apart, never the twain shall meet.

  Interested in time travel? This is for you.

  

  On the one hand, lots of people react to the following tweet by Elon Musk, by claiming Fauci saved millions of lives. On the other hand, just as many people (or so it seems) claim Fauci killed millions of people. It’s hard to get a bigger, and more consequential, chasm, than that.

  And apparently this Musk tweet got the most likes in Twitter history. What does that tell us? This chasm is not just on Twitter, this is the entire country plus anywhere else on the planet where people follow this.

  Despite the enormous 24/7 pressure to accept “The Science”, get a shot and a mask, and shut up.

  

  Of all people, John Brennan tried. The ex-CIA director who was caught lying to the Senate in 2014, and in 2017 to the House Intelligence Committee (Steele Dossier) about Russian interference during the 2016 election, still appears to think he has some form of moral high ground. Which is remarkable in and of itself. But at least Brennan has “class”.

  

  Elon Musk’s reaction has been loud and clear (note: this tweet is not a direct reaction to Brennan):

  

  Elon Musk has promised us a “full” record of the decision making process behind the censoring and banning by Twitter’s former staff, of renowned doctors like Peter McCullough, Robert Malone, Pierre Kory, Robert Marik, Richard Urso, and many more. Many of these distinguished scientists have seen their careers and livelihoods hampered, even destroyed by Fauci -and Twitter- over the past -almost- 3 years. And, of course, anyone else who dared question “The Science”.

  This was (is?!) a highly concerted effort. How many people died who could have been saved with ivermectin? Or just Vitamin D3, for that matter? HCQ? So many lives were lost to FDA, Fauci et al banning anything but Pfizer. Many more will perish because they now have mRNA in their bodies, and will never be able to get rid of it anymore.

  The “full record” will be a spectacle. Even if some things still remain hidden. Elon Musk may not be a saint, I very much hope he’s not, saints scare me, but I’d take him over Tony Fauci any day of the week.

  Here’s TAE Summary:

  The Mainstream Narrative

  • As a worldwide ‘public square,’ Twitter should be heavily regulated for misinformation and spamming by hostile interests. Twitter bears a responsibility to take action against disinformation and hate. Content moderation on platforms like Twitter is absolutely necessary to safeguard our democracy. As a private company Twitter is under no legal obligation to protect free speech and everything Twitter has done is within the law. Twitter and other social media platforms were instrumental in combating disinformation about Covid 19, climate change, election integrity and the war in Ukraine.

  • Elon Musk is an arrogant, toxic person. He doesn’t really care about free speech. His goals in purchasing Twitter are political. His takeover of Twitter is the most terrifying development in recent history. His purchase of Twitter will destroy it by driving away advertisers and providing a platform for Neo-Nazis and other hate-speechers. Under Musk, Twitter is a scammer’s paradise. Elon Musk decimated the staff of Twitter (breaking Federal labor laws) while restoring accounts that spread disinformation. Control of Twitter involves national security risks and Musk’s takeover should be investigated by the US Government.

  • The so-called “Twitter Files” are a feast for conspiracy theorists and have re-enlivened the influence of entities like QAnon. Journalists like Matt Taibbi writing about the Twitter Files are selling their souls to do PR work for the richest man in the world. The Twitter Files entries are sloppy, anecdotal and devoid of context. They are a nothing event about nothing event. The hysteria surrounding the Twitter Files is being used by Republicans for political gain.

  • The Hunter Biden laptop story was difficult and the truth was not known early and so caution was justified. There is no evidence in the Twitter Files that the government was involved in the suppression of the Hunter Biden Laptop story. There is nothing on Hunter Biden’s laptop that actually implicates Joe Biden. James Baker took the careful approach and urged Twitter to weigh both sides of the Hunter Biden Laptop story before proceeding.

  • Hate speech has dramatically increased since Must took over Twitter and these hateful tweets will lead to violence against the already marginalized. Right wing accounts such as those of Donald Trump, Project Veritas and the Babylon Bee should continue to be banned.

  The Counter Narrative

  • Twitter management was openly against free speech and used techniques such as “Visibility Filtering” to limit the reach of some posts. Twitter had secret blacklist files to limit the distribution of certain tweets specifically targeting right wing users. Twitter and other social media platforms have been instrumental in distributing disinformation and hiding the truth about Covid 19, climate change, election integrity and the war in Ukraine. Twitter censorship was used by the Democrats for political gain

  • Elon Musk is a hero. He bought Twitter to restore free speech. Twitter, pre-Musk, was a major accomplice and enabler in selling-out America’s future. Twitter was bloated with excess and left wing employees.

  • The Twitter Files show that the DNC and FBI were directly involved in suppressing free speech and prove that the 2020 elections were not free and fair. Twitter was clearly involved in election interference. The government interactions with Twitter were similar to Nazi propaganda methods. Twitter employees and their government contacts should be made to answer for their actions before congress. So-called journalists criticizing Matt Taibbi for his work on the Twitter Files are embarrassing in their uniformity and mindless support of a corrupt system.

  • The files on Hunter Biden’s laptop prove that Joe Biden used his office to make money and Twitter’s suppression of the laptop story was done to help get Joe Biden elected. It is a bigger scandal than Watergate. James Baker was involved in RussiaGate at the FBI and the Hunter Biden Laptop suppression at Twitter. Baker deleted some of the content that should have been in the Twitter Files.

  • The claims that hate speech has increased on Twitter since Musk’s takeover are utterly false. Hate speech is not tolerated on Twitter. Twitter largely ignored child trafficking issues until Musk took over. Lifting the ban on Donald Trump, Project Veritas and the Babylon Bee on Twitter are victories for free speech.

  Red pill or blue pill?

  *  *  *

  We try to run the Automatic Earth on donations. Since ad revenue has collapsed, you are now not just a reader, but an integral part of the process that builds this site. Thank you for your support.

  Support the Automatic Earth in virustime. Click at the top of the sidebars to donate with Paypal and Patreon.

  Tyler Durden
  Mon, 12/12/2022 – 20:20

• 'Merchant Of Death's Victory Tour: Praises Putin, "Volunteers" For War, & Joins Ultra-Nationalist Party
  ‘Merchant Of Death’s Victory Tour: Praises Putin, “Volunteers” For War, & Joins Ultra-Nationalist Party

  Just two Monday headlines perfectly illustrating the extreme imbalance of the one for one Brittney Griner, Viktor Bout trade last week which Russia is now positively celebrating: 

  • In Russia: Viktor Bout’s victory tour: Freed Russian arms dealer praises Putin and joins ultranationalist party
  • In America: Griner dunks in first basketball workout since Russian detention

  The convicted international arms trafficker who was only a week ago still serving out a 25-year sentence in a US federal penitentiary on terror-related charges is wasting no time. Not only has he done public appearances and state media TV interviews, wherein he praised President Vladimir Putin and pledged his full support for the Ukraine invasion, but he could already be on his way to a parliament seat. 

  Days after his exchange for Brittney Griner, Viktor Bout has joined the LDPR, so surely it’s only a matter of time before he gets himself a seat in the Duma

  If this happens he’ll join the likes of Andrei Lugovoi, wanted for poisoning Alexander Litvinenko, in their esteemed ranks pic.twitter.com/dMv1URJNt7

  — Francis Scarr (@francis_scarr) December 12, 2022

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

  The “Merchant of Death” has joined Russia’s ultra-nationalist Liberal Democratic Party (LDPR), the organization announced Monday, and received his LDPR membership card at a ceremony from party leader Leonid Slutsky.

  Slutsky praised the newly freed arms dealer, saying, “We are the party of patriots! I am sure that Viktor Bout — a strong-willed and courageous person — will take a worthy place in it. Welcome to our ranks!” 

  This after on Saturday in Bout’s first interview since arriving in Moscow to a hero’s welcome he actually “volunteered” to go fight in Ukraine. He declared his willingness to go fight at the front lines if he had to opportunity and “necessary skills.”

  

  He further described that his only complaint is that Putin didn’t launch an attack on Ukraine sooner…

  “Hero of our time,” read a description of the RT interview posted on YouTube. In that interview, Bout was eager to play the role of national martyr. “Everything that happened to me is now happening to our country,” he said, alluding to the international condemnation Russia has experienced since launching the invasion of Ukraine earlier this year.

  “I am proud that I am Russian, and that Putin is our president. I honestly don’t understand why we didn’t do this earlier,” he said of the unprovoked attack on Ukraine.

  Without doubt, Russian media is eager to loudly gloat over the fact that the Kremlin obtained the release of a very high profile prisoner from the US, and all it had to do was hand over a celebrity WNBA player who brought cannabis vape cartridges into the country.

  Fully aware that American officials and the public would be keeping an eye out for his first statements since being released, parts of the RT interview were delivered in English, in order to send a ‘message’. 

  Lord of War ‘24
  pic.twitter.com/MH5nq8NH44

  — Dan Lyman (@realdanlyman) December 10, 2022

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

  Bout spoke about the internal “suicide” of Western civilization as it has lost its values, which is a similar theme Putin himself has emphasized over the last several years. 

  Meanwhile, American media ‘celebrated’ Griner’s first basketball workout after being freed from Russian prison and delivered in safety back home. The aforementioned Axios story unironically began: “WNBA star Brittney Griner did a light basketball workout on Sunday and pulled off a dunk in her first move back after nearly 10 months behind bars in Russia.”

  Tyler Durden
  Mon, 12/12/2022 – 20:00

• Supreme Court Agrees To Take up Another Challenge Against Biden's Student Debt Program
  Supreme Court Agrees To Take up Another Challenge Against Biden’s Student Debt Program

  Authored by Jack Phillips via The Epoch Times,

  The U.S. Supreme Court on Monday agreed to hear President Joe Biden’s appeal of a judge’s ruling that blocked his student debt relief program and found it unlawful, taking up the matter alongside another lawsuit against the policy.

  

  The Biden administration appealed a recent decision handed down by Texas-based U.S. District Judge Mark Pittman to block the program, siding with an advocacy group. An appeals court also ruled against the relief program and placed it on hold.

  The case the court announced Monday it would take up involves two holders of student loan debt – Alexander Taylor and Myra Brown – who said the federal government did not follow the right procedure in announcing and implementing the plan earlier this year. In an order, the Supreme Court wrote that it would determine whether Taylor or Brown had standing to file their lawsuit and will then hear the merits of it.

  On Dec. 1, the Supreme Court confirmed would hear arguments on the legality of the debt relief program in another case pursued by six mostly Republican-led states. At the same time, the court will keep Biden’s multi-billion-dollar program on hold as it hears arguments next year.

  The forgiveness program, which was announced by Biden in August, included up to $20,000 in loan relief for low- and middle-income debt holders. Some 26 million individuals already applied for relief, according to the Department of Education, which said that about 16 million of those have been approved.

  The Texas lawsuit was filed by two borrowers who were partially or fully ineligible for the loan forgiveness, backed by the Job Creators Network Foundation, a conservative advocacy group founded by Bernie Marcus, a co-founder of Home Depot Inc.

  Pittman, appointed as a judge by former President Donald Trump, ruled that the administration overstepped its authority to order debt cancellation under a 2003 law called the Higher Education Relief Opportunities for Students Act, which can “waive or modify” student financial assistance during war or national emergency.

  The U.S. Court of Appeals for the 5th Circuit later ruled to allow the judge’s injunction to stay until a final ruling in the case is issued. That prompted the Biden administration to appeal to the Supreme Court.

  Attorneys general in Nebraska, Missouri, Arkansas, Iowa, Kansas, and South Carolina filed a lawsuit against the relief plan several weeks after it was unveiled to the public. Those states had claimed that they have the legal standing to challenge the plan, which they also argued exceeds the federal government’s authority.

  According to the Supreme Court order issued Monday, the Brown case will be “deferred pending oral argument,” which reports say is slated for February of next year, alongside Biden v. Nebraska, the suit that was filed by the six states. No specific date was given.

  Under a separate COVID-19-related order, those with student loan debt currently don’t have to make payments. Last week, the White House pushed back the payment pause until mid-2023 while the lawsuits are resolved.

  

  President Joe Biden announces student loan relief with Education Secretary Miguel Cardona on Aug. 24, 2022. (Oliver Douliery/AFP via Getty Images)

  Other Challenges

  “The act requires a real connection to a national emergency,” the states’ lawyers wrote in court papers in late November. “But the department’s reliance on the COVID-19 pandemic is a pretext to mask the president’s true goal of fulfilling his campaign promise to erase student-loan debt.”

  Lawyers for the administration, in asking the Supreme Court to reverse a lower court’s injunction against the program on Nov. 18,  wrote that the injunction should be lifted because it means that millions of people won’t be able to pay back their loans.

  Because the plan won’t be implemented in the immediate future, the injunction “leaves millions of economically vulnerable borrowers in limbo, uncertain about the size of their debt and unable to make financial decisions with an accurate understanding of their future repayment obligations,” argued U.S. Solicitor General Elizabeth Prelogar in favor of the White House.

  Prelogar asserted that the six states do not have the legal standing to file the lawsuit, she said, adding that the federal government acted within its authority to set up a debt-relief program.

  The nonpartisan Congressional Budget Office estimated (pdf) that the program could total $400 billion over about 10 years. Because of the hefty price tag, Republicans criticized the program, while they also claimed the Biden administration announced the relief plan to coincide with the Nov. 8 midterm elections.

  “These responsible Americans paid off their student debt, worked their way through college, or chose a career path that did not require student debt—but Biden is now forcing them to pay off other people’s loans,” Rep. Lauren Boebert (R-Colo.), who recently won her reelection, told The Epoch Times on Oct. 21.

  Read more here…

  Tyler Durden
  Mon, 12/12/2022 – 19:40

• Ukraine Attacked 'Wagner HQ' Using US-Supplied Rockets: Report
  Ukraine Attacked ‘Wagner HQ’ Using US-Supplied Rockets: Report

  Ukraine says it delivered a huge blow to Russian forces after targeting a hotel in Luhansk province said to have members of Russia’s mercenary Wagner Group based there.

  Luhansk Governor Serhiy Haidai on Sunday touted that Ukrainian forces conducted a strike on a hotel in the city of Kadiivka “just where Wagner headquarters was located.” However, Russia is denying that a ‘Wagner HQ’ was struck, and details or confirmable facts remain murky into Monday. Importantly, the Russian side says the attack was carried out with US-supplied missiles.

  

  Russia’s state TASS reported that HIMARS rockets were used, and that “The hit was on a private hotel… in an area in a central market. It did not work.”

  The Ukrainian side has countered that “many” Wagner mercenaries were killed in the ‘successful’ strike, with some officials posting photos of a destroyed hotel building to Telegram.

  On Monday afternoon, The New York Times summarized what it knows of the incident as follows: 

  A Ukrainian rocket attack on a hotel in the east of the country killed members of the Wagner Group, a Russian paramilitary force whose leader has closed ties to President Vladimir V. Putin, regional Ukrainian military authorities have said.

  …The Russian state news agency Tass reported in a Telegram post that a HIMARS rocket had destroyed a hotel close to the central market but did not mention the Wagner Group. Using the old Soviet name for the city, Stakhanov, in the self-proclaimed Luhansk People’s Republic, the report cited the office of the mayor and said that rescuers were clearing the rubble. It did not give details of casualties or say who was staying in the hotel.

  But the Times report goes on to acknowledge that little can be verified of the strike, stressing that “There was no independent confirmation that Wagner forces were in the hotel, but such a strike would fit a pattern of attacks by Ukrainian forces on critical points of military infrastructure or concentrations of troops in territory occupied by Russian forces.”

  Looks like the strike on the Wagner Group HQ in Kadiivka resulted in dozens of Russian fatalities.

  HIMARS was probably used to strike the hotel which served as a command center for the Wagner soldiers operating near Bakhmut. pic.twitter.com/UNFR6U79RF

  — Visegrád 24 (@visegrad24) December 11, 2022

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

  The Wagner Group itself stayed quiet in the initial aftermath of the Sunday attack, with no official statements or social media posts verifying the Ukrainian version of events, or that its members suffered any casualties.

  If accurate, however, it would mark a huge escalation given the high visibility of Wagner Group as a leading private contractor firmed with links to President Vladimir Putin, and also given the allegations a devastating strike was carried out using the US HIMARS system – a weapon that allows Ukrainian forces to strike deep behind Russian lines. It also goes without saying that whole incident risks a greater Russian response.

  Tyler Durden
  Mon, 12/12/2022 – 19:20

• The "Barbarous Relic" Helped Enable A World More Civilized than Today's
  The “Barbarous Relic” Helped Enable A World More Civilized than Today’s

  Authored by George Ford Smith via The Mises Institute,

  One of history’s greatest ironies is that gold detractors refer to the metal as the barbarous relic. In fact, the abandonment of gold has put civilization as we know it at risk of extinction.

  

  The gold coin standard that had served Western economies so brilliantly throughout most of the nineteenth century hit a brick wall in 1914 and was never able to recover, or so the story goes. As the Great War began, Europe turned from prosperity to destruction, or more precisely, toward prosperity for some and destruction for the rest. The gold coin standard had to be ditched for such a prodigious undertaking.

  If gold was money, and wars cost money, how was this even possible?

  First, people were already in the habit of using money substitutes instead of money itself—banknotes instead of the gold coins they represented. People found it more convenient to carry paper around in their pockets than gold coins. Over time the paper itself came to be regarded as money, while gold became a clunky inconvenience from the old days.

  Second, banks had been in the habit of issuing more bank-notes and deposits than the value of the gold in their vaults. On occasion, this practice would arouse public suspicion that the notes were promises the banks could not keep. The courts sided with the banks and allowed them to suspend note redemption while staying in business, thus strengthening the government-bank alliance. Since the courts ruled that deposits belonged to the banks, bankers could not be accused of embezzlement. The occasional bank runs that erupted were interpreted as a self-fulfilling prophecy. If people lined up to withdraw their money because they believed their bank was insolvent, the bank soon would be. People had no idea their banks were loaning out most of their deposits. They did not know fractional reserve banking, a form of counterfeiting, was the norm.

  Gold coin redemption requirements put limits on fractional reserve banking. Such limits were not welcomed by banks. Since banks could loan to the government, limitations also capped government spending, so the government did not like the limitations of gold coin redemption either.

  Which brings us to the wall gold allegedly hit.

  Preparing for War Means Preparing for Inflation

  In his 1949 book, Economics and the Public Welfare, economist Benjamin Anderson tells us, “the war [in 1914] came as a great shock, not only to the masses of the American people, but also to most well-informed Americans—and, for that matter, to most Europeans.” And yet, Germany, Russia, and France began accumulating gold prior to the war (with Germany starting first in 1912). Gold was taken “out of the hands of the people” and carried to the reserves of the Reichsbank, the German central bank. People were given paper notes “to take the place of gold in circulation.”

  When war broke out in August 1914, Gary North explains that the pre–World War I policy of gold coin redemption was

  independently but almost simultaneously revoked by European governments. . . . They all then resorted to monetary inflation. This was a way to conceal from the public the true costs of the war. They imposed an inflation tax, and could then blame any price hikes on unpatriotic price gouging. This rested on widespread ignorance regarding economic cause and effects regarding monetary inflation and price inflation. They could not have done this if citizens had possessed the pre-war right to demand payment in gold coins at a fixed rate. They would have made a run on the banks. Governments could not have inflated without reneging on their promises to redeem their currencies for gold coins. So, they reneged while they still had the gold. Better early contract-breaking than late, they concluded.

  If governments had not broken their promise to redeem paper notes for gold coins, they would have had to negotiate their differences rather than engage in one of the deadliest wars in history. Abandoning the gold coin standard, which had always been under government control, was the deciding factor in going to war.

  Though the US did not formally abandon gold during its late participation in the war, it discouraged redemption while roughly doubling the money supply. Blanchard Economic Research discusses the situation in “War and Inflation”:

  War also causes the type of inflation that results from a rapid expansion of money and credit. “In World War I, the American people were characteristically unwilling to finance the total war effort out of increased taxes. This had been true in the Civil War and would also be so in World War II and the Vietnam War. Much of the expenditures in World War I, were financed out of the inflationary increases in the money supply.”

  Governments had a choice to make: fight a long, bloody war for specious reasons, or retain the gold coin standard. They chose war. US leaders found their decision irresistible. It was not J.P. Morgan, Woodrow Wilson, Edward Mandell House, or Benjamin Strong who would be fighting in the trenches.

  When we hear that “going off gold” was the prerequisite for global peace and harmony, we should remember places such as the Meuse-Argonne American Cemetery in France, where grave markers seemingly extend to infinity. These are mostly the graves of young men who died for nothing but the lies of politicians and the profits of the politically connected. Gold wanted no part in the slaughter. But politicians and bankers knew a paper fiat standard was the monetary prerequisite to achieving their goals.

  Conclusion

  John Maynard Keynes, who coined the term “barbarous relic” in reference to the gold standard, wrote about the world that was lost when gold was abandoned:

  What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914! . . . The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, in such quantity as he might see fit, and reasonably expect their early delivery upon his doorstep. . . . He could secure forthwith, if he wished it, cheap and comfortable means of transit to any country or climate without passport or other formality, could despatch his servant to the neighboring office of a bank for such supply of the precious metals as might seem convenient, and could then proceed abroad to foreign quarters, without knowledge of their religion, language, or customs, bearing coined wealth upon his person, and would consider himself greatly aggrieved and much surprised at the least interference. But, most important of all, he regarded this state of affairs as normal, certain, and permanent, except in the direction of further improvement, and any deviation from it as aberrant, scandalous, and avoidable.

  If Keynes had read what he wrote, he might have been a better economist. And we might be living in a better world today.

  Tyler Durden
  Mon, 12/12/2022 – 19:00

• Sam Bankman-Fried Arrested In The Bahamas, Charged With Wire/Securities Fraud And Money Laundering
  Sam Bankman-Fried Arrested In The Bahamas, Charged With Wire/Securities Fraud And Money Laundering

  Update (8:35pm ET): According to the NYT, the charges against SBF which in an indictment which will be unsealed on Tuesday included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Of course, SBF should also be charged for talking too damn much and adding 15 years to his sentence by being a megalomaniac sociopath, but we’d take attempted bribery of the entire Democratic Party instead.

  A lawyer chimes in, pointing out that according to federal sentencing guidelines, SBF could be looking at approximately 612,000 years in prison.

  According to federal sentencing guidelines, if you account for all of today’s developments, it looks like SBF is looking at *checks notes* 612,000 years in prison. pic.twitter.com/WrAWfhCelP

  — Wendy Peffercorn (@SandLot84) December 12, 2022

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  While more than half a million years in prison may seem excessive, life in prison for the disgraced democrat donor sounds about right.

  JUST IN: Sam Bankman-Fried “could be looking at life in prison” if convicted. pic.twitter.com/3hxOqW3xS1

  — Watcher.Guru (@WatcherGuru) December 13, 2022

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  And since SBF was the only person charged in the indictment, it appears that we were right when we said that his co-worker (and former lover) Caroline Ellison would roll on him (see “Alameda’s Caroline Ellison Spotted In NY Amid Speculation She Is About To Roll On SBF After Hiring Iconic Clinton Lawyer”).

  * * *

  Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC.

  

  The arrest came after the U.S. filed criminal charges against Bankman-Fried. US prosecutors say they’ll unseal an indictment on Tuesday…

  USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.

  — US Attorney SDNY (@SDNYnews) December 12, 2022

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  It does make one wonder at the timing, as this happened just a week after Carline Ellison – the former CEO of Alameda Capital – was spotted in NY (not in custody) and had sought council, represented by DC law firm, WilmerHale.

  Did his girlfriend throw him under the bus pre-emptively as she saw the ‘Simple Jack’ defense gaining ground?

  

  Furthermore, the statement said that the nation expects the U.S. to request The Bahamas extradite Bankman-Fried in short order.

  “As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act.

  At such time as a formal request for extradition is made, The Bahamas intends to process it promptly, pursuant to Bahamian law and its treaty obligations with the United States.”

  This should not have come as a total surprise after John Ray, the current FTX CEO, wrote in prepared remarks that FTX had ‘commingled’ funds…

  Ok, enough with @SBF_FTX bullshit “i am an idiot too dumb to be a criminal” media world tour.

  Where is the @TheJusticeDept, where is the @FBI – this is officially a crime as per FTX’s new CEO pic.twitter.com/X2kjs5OjDj

  — zerohedge (@zerohedge) December 12, 2022

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  Responding to SBF’s arrest, Prime Minister Davis stated:

  “The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere.”

  Presumably this means he will not be attending tomorrow’s Congressional hearing with Maxine Waters… which is a shame because we would have liked to hear some answers…

  Tomorrow, Sam Bankman-Fried was scheduled to testify in front of the House Financial Services Committee. @HouseGOP was ready to grill him six ways to Sunday.

  Now breaking tonight, SBF was just arrested!🧐

  Why not allow him to 1st testify tomorrow and answer our many questions?

  — Lee Zeldin (@RepLeeZeldin) December 13, 2022

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  In his prepared remarks for that hearing, Bankman-Fried offered a blunt assessment of his plight. 

  “I would like to start by formally stating under oath: I f*cked up,” he said in the remarks obtained by Bloomberg News.

  Indeed you did young man…

  *  *  *

  Official Statement below:

  

  Source

  Tyler Durden
  Mon, 12/12/2022 – 18:44

• Why Supertanker Rates Are Suddenly Crashing
  Why Supertanker Rates Are Suddenly Crashing

  Authored by Alex Kimani via OilPrice.com,

  • Supertanker rates reached record levels earlier this year.

  • Very Large Crude Carrier rates have plunged to just $38,000 per day, falling some 62% from a few weeks ago. 

  • OPEC+ cuts and waning SPR releases are short-term volume headwinds in the oil transportation sector.

  Earlier in the year, supertanker freight rates hit record levels as traders scrambled to park crude in storage to take advantage of a record gap between spot and future prices shortly after Russia invaded Ukraine. Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route reached as high as $180,000 a day while VLCC time charter rates for floating storage jumped to as much as $120,000 per day.

  

  But the situation has now reversed with supertanker rates plunging sharply. According to Bloomberg, ships capable of hauling 2 million barrels of crude are now earning about $38,000 a day, down 62% from just weeks ago after OPEC+ cut production and reduced releases from US reserves lowered seaborne volumes, Bloomberg reports.

  “Clearly OPEC+ cuts and waning SPR releases would both be short-term volume headwinds. They cut production from the first of November and you would expect some lag, and we are seeing activity in the Middle East cooling off somewhat. That’s the simple explanation,” Lars Bastian Ostereng, an analyst at Arctic Securities has told Bloomberg.

  Lower freight rates are encouraging some crude to travel longer distances. For instance, Bloomberg has reported that a South Korean refiner bought 2 million barrels of U.S. crude for March arrival. Meanwhile, offers for long-haul U.S. cargoes for delivery to Asia have declined partly due to lower shipping costs.

  But things could not be more different in the natural gas arena.

  Energy Crisis Sparks Mad Dash For Floating LNG Terminals

  Demand for LNG floating storage and regasification units (LNG-FSRUs) has increased sharply this year, with Europe facing an energy supply squeeze as Russia has progressively cut pipeline gas flows. 

  Demand for LNG imports has intensified after the ruptures on the key Nord Stream pipeline system quashed any prospect of Russia turning its gas taps back on. This has forced dozens of countries in Europe to turn to FSRUs or floating LNG terminals, which are essentially mobile terminals that unload the super-chilled fuel and pipe it into onshore networks.

  Currently, there are 48 FSRUs in operation globally, with Rystad Energy revealing that all but six of them are locked into term charters. 

  According to energy think-tank Ember, the EU has lined up plans for as many as 19 new FSRU projects at an estimated cost of €9.5bn. 

  The biggest beneficiaries are Korean shipbuilding, for whom FSRUs are a major revenue-generator. Korea is the definitive world leader in this field. According to local media, Korean shipbuilders managed to book 46% more orders so far, YoY. And the government’s goal is for the country to grab 75% of the market share by 2030. 

  The setup couldn’t be better. With the supply of these vessels so tight, the cost of charters into Germany has doubled year-on-year to $200,000 a day. 

  “Last year there was a surplus of FSRUs and this year there is a deficit. Up until now there have been sufficient vessels in the market, but as most have now been taken, it’s becoming more challenging,” Per Christian Fett, the global head of LNG at shipbrokers Fearnley LNG in Oslo, has told Bloomberg.

  Texas-based Excelerate Energy Inc. is sending three FSRUs to Europe with combined throughput capacity to import 15 billion cubic meters of gas, or about 10% of the pipeline and LNG imports from Russia in 2021. Demand for the terminals in Europe is so strong that it could make it less affordable for emerging nations to use FSRUs for their own needs.

  “The risk is real that underutilized facilities in other regions of the world could be relocated to Europe, existing charter terms permitting,”Kaushal Ramesh, a senior analyst at consultant Rystad Energy, has said.

  New Dutch terminal

  The Netherlands has taken its first delivery of LNG at a new terminal, boosting Europe’s efforts to wean itself off Russian gas. Previously, the Netherlands could only import LNG through Rotterdam; however, that has changed with the commissioning of two FSRUs, the Golar Igloo and Eemshaven LNG, moored in Eemshaven. The FSRU project was completed in record time Please use the sharing tools found via the share button at the top or side of articles. With the pair of floating ships now supplying gas to the landlocked Czech Republic and Germany.

  “The arrival of the new LNG terminal is an important step not only for the Netherlands, but for the whole of Europe to completely phase out the dependence on energy from Russia as quickly as possible,” Rob Jetten, Dutch minister for climate and energy, has declared. FRSUs offer the quickest and most efficient way for Europe to end its reliance on the pipelines that bring in large quantities of natural gas from Russia.

  Europe has been working hard to wean itself off Russian energy commodities ever since the latter invaded Ukraine. The European Union has banned Russian coal and plans to block most Russian oil imports by the end of 2022 in a bid to deprive Moscow of an important source of revenue to wage its war in Ukraine.

  But ditching Russian gas is proving to be more onerous than Europe would have hoped for. Whereas supplies of Russian pipeline gas–the bulk of Europe’s gas imports before the Ukraine war–are down to a trickle, Europe has been hungrily scooping up Russian LNG. The Wall Street Journal has reported that the bloc’s imports of Russian liquefied natural gas jumped by 41% Y/Y in the year through August.

  “Russian LNG has been the dark horse of the sanctions regime,” Maria Shagina, research fellow at the London-based International Institute for Strategic Studies, has told WSJ. Importers of Russian LNG to Europe have argued that the shipments are not covered by current EU sanctions and that buying LNG from Russia and other suppliers has helped keep European energy prices in check. 

  

  Source: WSJ

  LNG Deluge

  Maybe Europe’s LNG imports from Russia can be justified on a purely economic basis.

  Natural gas prices in Europe have plunged over the past few weeks with CNBC reporting that a  “Wave of LNG tankers is overwhelming Europe in an energy crisis and hitting natural gas prices.” According to MarineTraffic via CNBC, 60 LNG tankers, or  ~10% of the LNG vessels in the world, are currently sailing or anchored around Northwest Europe, the Mediterranean, and the Iberian Peninsula. 

  It’s a fair bet that a good chunk of those vessels originated from the United States.

  Europe’s natural gas demand has skyrocketed as the EU tries to lower its reliance on Russian natural gas following its invasion of Ukraine. Europe has displaced Asia as the top destination for the U.S. LNG, and now receives 65% of total exports. The EU has pledged to reduce its consumption of Russian natural gas by nearly two-thirds before the year’s end while Lithuania, Latvia and Estonia have vowed to eliminate Russian gas imports outright. Unlike pipeline gas, supercooled LNG is much more flexible and can be shipped from far-flung regions, including the U.S. and Qatar. 

  Europe is not alone here. Shipping data has revealed that China has imported nearly 30% more gas from Russia so far this year, typically at a steep discount.

  Thankfully, there’s a clear upside to imports of Russian LNG to Europe: the continent has managed to fill its gas stores well ahead of schedule, with Reuter’s gas meter revealing that 90% of the EU gas storage is currently filled.

  Tyler Durden
  Mon, 12/12/2022 – 18:20

• Democratic Lawmakers Make Rare Visit To Cuba In Normalization Push
  Democratic Lawmakers Make Rare Visit To Cuba In Normalization Push

  Authored by Kyle Anzalone via The Libertarian Institute, 

  A delegation from the Congressional Progressive Caucus met with the Cuban president, in a rare high-level meeting among government officials. Washington maintains a Cold War-era embargo against Havana.

  The Associated Press reported Representatives James McGovern (D-MA), Mark Pocan (D-WI) and Troy Carter (D-LA) met with Cuban President Miguel Díaz-Canel in Havana on Sunday. Miguel Díaz-Canel tweeted, “we address our differences and topics of common interest. The shared will to improve bilateral relations was ratified. I expressed the need to put an end to measures that harm the Cuban population.”

  

  “In the past year, Cuban arrivals to the U.S.-Mexico border have skyrocketed, and a growing number of boats packed with migrants have been found off of Florida’s coast,” the AP has noted. “In October, Cubans replaced Venezuelans as the second most numerous nationality after Mexicans arriving at the border. U.S. authorities stopped Cubans 28,848 times, up 10% from the previous month, the latest data from U.S. Customs and Border Protection shows.”

  Havana was a client of Moscow throughout much of the Cold War. Washington first sanctioned weapon sales to Cuba in 1958. Two years later, Cuba nationalized American-owned businesses. The US responded by placing an embargo on Cuba. 

  In February 1962, Washington extended the blockade of Cuba to include nearly all exports. Eight months later, the US and USSR nearly engaged in a nuclear exchange over strategic missiles deployed in Cuba. 

  Near the end of his second term, Barack Obama took a number of steps to normalize relations with Cuba. President Donald Trump walked back nearly all of Obama’s détente policies. The Trump administration justified the U-turn claiming American diplomats in Cuba were targeted with a mysterious weapon that caused a wide variety of symptoms.

  The US government dubbed the so-called disease ‘Havana Syndrome.’ However, a recording of the alleged weapon was identified to be the sound of native crickets. Joe Biden was expected to adopt the policy of his former boss for Cuba, but the White House has been slow to return to diplomacy with Havana.

  

  In July 2021, the US imposed sanctions on Cuba over human rights abuses committed by government forces. While the Cuban government is repressive, the worst human rights abuses in Cuba occur at Guantanamo Bay. The US military occupies a portion of the island and has operated the infamous torture prison at the base for two decades. 

  In June, the White House eased some sanctions on Havana, signaling some loosening of the embargo. Last month at the UN, the US voted to keep the blockade against Cuba. Recent talks between Washington and Havana have focused on slowing Cuban immigration to the US.

  Tyler Durden
  Mon, 12/12/2022 – 17:40

• SEC Chairman Gensler Scrubbed Evidence Of Clinton, Soros And Pelosi Meetings: FOIA Lawsuit
  SEC Chairman Gensler Scrubbed Evidence Of Clinton, Soros And Pelosi Meetings: FOIA Lawsuit

  Sunlight is the best disinfectant – unless you’re Securities and Exchange Commission (SEC) Chairman Gary Gensler – who scrubbed evidence of a meeting with former Secretary of State Hillary Clinton from his calendar, along with key details of a meeting with Billionaire leftist-operative George Soros.

  

  He also concealed September 21 meetings with House Speaker Nancy Pelosi (D-CA) and former Bill Clinton White House official-turned-DC consultant, Minyon Moore.

  Gensler, a former Goldman Sachs executive, Obama administration official, Clinton’s 2016 campaign CFO, and FTX associate, essentially had two calendars. His public calendar showed that on Aug. 7, 2021, he only had a staff meeting, while his private calendar lists a meeting with Hillary Clinton, Fox News reports.

  Thirteen days later on Aug. 20, 2021, Gensler’s public calendar does list a meeting with Soros, but the agenda was hidden. His private calendar reveals that the meeting was held to discuss an upcoming WSJ op-ed Soros was planning to write in which he slammed BlackRock for launching investment products for Chinese customers, while also applauding the company’s ESG policies.

  Gensler’s private calendar revealing the discrepancies was obtained by the watchdog group Energy Policy Advocates and shared with Fox News Digital. The group was only able to obtain the internal records after filing a Freedom of Information Act lawsuit against the SEC.

  In recent days, around the time Fox News Digital contacted the SEC, the agency updated Gensler’s public calendar to include his meeting with Clinton in August 2021. As recently as Wednesday the public calendar didn’t include the meeting, and archived copies of the webpage from April also list just a meeting with staff. -Fox News

  When contacted for comment, the SEC initially lied – saying that the Clinton meeting was visible on Gensler’s public calendar. When confronted with screenshots to the contrary, the spokesperson said that the agency updates calendars “from time to time” when inaccuracies are discovered (by watchdog groups?). 

  Gensler also concealed several September 2021 meetings with House Speaker Nancy Pelosi (D-CA), and Minyon Moore – both of which have been now updated on Gensler’s public calendar.

  

  “That even George Soros is calling out progressive darling BlackRock for craven blundering is striking — even if it did carry the requisite, tribal praise for BlackRock’s truly damaging ‘ESG’ (environmental, social and governance) campaigning to impose their shared ‘climate’ agenda on the U.S., an agenda also much to China’s delight,” said Chris Horner, a lawyer representing Energy Policy Advocates. “That it appears Soros received counsel from Gary Gensler on the mega-donor’s call for more SEC powers as a result is truly astonishing.”

  “This gives further credence to the widespread concern that Gensler is deeply politicizing a supposedly independent commission,” he continued. “He may have been Hillary Clinton’s ‘Progressive Beacon’ not long ago, but Gary Gensler is now the SEC chairman, and his calendar indicates he knew the purpose of the meeting. It seems important to know whose idea this was, why, what was said arranging it and through what channel.”

  According to the SEC spokesperson, Gensler has never asked anyone to ‘draft or submit’ an op-ed, but declined to comment on the meeting with Soros.

  Gensler has faced heavy criticism from business groups and Republican lawmakers for pushing progressive policies, including a climate disclosure rule that would require publicly traded companies to share carbon emissions data and other climate information.

  Reps. Bill Huizenga, R-Mich., and Andy Barr, R-Ky., two top GOP members on the House Financial Services Committee, introduced legislation this month that would limit the SEC’s ability to require such climate disclosures. -Fox News

  “That this and Gensler’s consultation with Hillary were scrubbed from the public version of his calendar is frankly the least surprising aspect of this,” Horner continued. “The SEC first told Energy Policy Advocates that the publicly posted calendars were all they would get.”

  “Energy Policy Advocates challenged that, pointing out that these sanitized versions, typically posted months after the fact, were certainly not produced from memory and the group wanted the originals. Here you see the reason for the scrubbing these internal versions receive.“

  Tyler Durden
  Mon, 12/12/2022 – 17:20

• Will Central Banks Do What It Takes?
  Will Central Banks Do What It Takes?

  Authored by Carmen Reinhart via Project Syndicate,

  Few would doubt that, after 15 years of ultra-low interest rates, reining in inflation by restoring real positive rates will be difficult. And with 2023 expected to bring heightened global financial and economic risks, monetary tightening will almost certainly become even more complicated.

  

  The advanced economies are experiencing their highest inflation in 40 years, with a median rate of nearly 9% for the 12 months ending in September 2022. For central banks and financial markets, the expectation – or, more accurately, the hope – that the inflation spike would be transitory has been broadly replaced by the sobering realization that price growth is a persistent problem that demands significant and sustained monetary tightening. With the exception of the Bank of Japan, the major central banks are now raising interest rates and moving to stabilize or reverse balance-sheet growth

  Few would doubt that, after 15 years of exceptionally low interest rates, this policy shift will be difficult, especially with the global economy teetering on the edge of recession. But with 2023 expected to bring heightened global financial and economic risks – not to mention rising geopolitical tensions – it will almost certainly become even more complicated.

  A historical perspective illuminates some of the challenges that are likely to emerge as international financial conditions tighten. Real policy interest rates (nominal interest rates minus inflation) in the world’s financial center, the United States, have been consistently negative since the 2008-09 global financial crisis.

  Real interest rates have remained negative for multiyear periods in a global financial center only four times since the mid-1800s (at least). The first three episodes were during the two world wars and in the aftermath of the OPEC oil shock from 1974-1980. In these three cases, average inflation in the US ranged from 7% to 15%, and the restoration of positive real interest rates was part of an effort to tackle inflation.

  The current period of prolonged negative real interest rates is the longest of the four. Moreover, real rates in other advanced economies have been even more deeply negative. In much of Europe and Japan, nominal interest rates were also negative – a historical novelty.

  Yet another historically anomalous feature of the recent “low-for-long” interest-rate era is that, under the heading of quantitative easing (QE), advanced-economy central banks have purchased massive amounts of government (or government-guaranteed) debt, setting new peacetime records. While central-bank balance sheets shrank modestly after the global financial crisis ended, they remained far larger than they were before the crisis, and swelled to new highs during the COVID-19 pandemic.

  This exceptional accommodation explains why, despite significant rate hikes, the US federal funds rate remains well below the 12-month inflation rate of about 8%. Likewise, the European Central Bank’s policy rate remains well below the US federal funds rate, while eurozone inflation nears double digits.

  Against this backdrop, restoring positive real interest rates – thereby stabilizing inflation – may require monetary policy to be kept tighter for longer than many policymakers and market participants seem to expect. Yet it is far from clear that central banks will maintain their commitment to tightening in the face of weakening economic activity. The persistence of inflation in the 1970s can be explained partly by the US Federal Reserve’s tendency to do too little too late or to waver in the tightening process.

  Experience also points to another underappreciated risk: the return of volatility in fixed-income (bond) markets. The recent turmoil in the United Kingdom, which forced the Bank of England to launch an emergency bond-buying program, is a case in point.

  Price volatility is standard in global commodity markets, regardless of the interest rate. But, in fixed-income markets, higher volatility is the handmaiden of higher and more unstable inflation rates. The variation in inflation rates across the major advanced economies was about seven times higher in 1974-89 than in 2008-21.

  This means that, in the era of sustained ultra-low interest rates, fixed-income-market volatility declined steadily. Low and stable inflation rates across the advanced economies also contributed significantly to a reduction in exchange-rate volatility after 2008, as Kenneth Rogoff, Ethan Ilzetski, and I have shown.

  Persistent ultra-low interest rates shaped balance sheets by encouraging private-sector and government borrowing and aggressive risk-taking in search of yield (increasing the likelihood of asset-price bubbles). While ultra-low rates technically strengthen government balance sheets, they may have created or aggravated off-balance-sheet losses, including by undermining pension-fund solvency (especially among local governments). “Low for long” has, in some cases, weakened fiscal discipline and delayed reforms.

  For countries with very high debts (such as Italy), negative interest rates – together with massive debt purchases by central banks – may have replaced debt restructuring, which at least in principle can deliver faster and greater progress on debt reduction. It remains to be seen how that gap will be filled in an era of tighter monetary policy.

  The message is clear: the risks posed by the exit from sustained negative real interest rates extend well beyond recession. The question is how central banks will respond when those risks manifest.

  Central-bank independence seems to have eroded – not necessarily de jure, but possibly de facto, as officials weigh the broader consequences of their actions. If leverage (public and private) and risk exposures raise doubts about financial stability, will central banks return to accommodation? What if fears of a market crash emerge, or sovereign insolvencies seem imminent (as might occur in the eurozone)? In the 1970s, economies endured years of high inflation before the exit from negative real interest rates was complete.

  And yet more risks loom in 2023. China – a key engine of global economic growth after the last global financial crisis – is grappling with financial and political fragilities. Tighter global financial conditions could severely damage emerging-market and developing economies in the short run. Those with large US-dollar-denominated debts will suffer even more. Already, more than 60% of low-income countries are either at high risk of distress or already there.

  But just as the exit from the “low-for-long” interest-rate era raises grave risks, so, too, does persistent high inflation, which, among other things, exacerbates inequality within and across countries. To say that this is a challenging time for governments and central banks would be a massive understatement.

  Tyler Durden
  Mon, 12/12/2022 – 17:00

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• Xi Jinping's Saudi Trip & The Overthrow Of Atlanticism
  Xi Jinping’s Saudi Trip & The Overthrow Of Atlanticism

  Via The Cradle, 

  As Atlanticists continue their commitment to a future shaped by energy scarcity, food scarcity, and war with their nuclear-capable neighbors, most states in the Persian Gulf that have long been trusted allies of the west have quickly come to realize that their interests are best assured by cooperating with Eurasian states like China and Russia who don’t think in those zero-sum terms.

  With Chinese President Xi Jinping’s long-awaited three-day visit to Saudi Arabia this past week, a powerful shift by the Persian Gulf’s most strategic Arab state toward the multipolar alliance is being consolidated. Depending on which side of the ideological fence you sit on, this consolidation is being viewed closely with great hope or rage.

  Xi’s visit stands in stark contrast to US President Joe Biden’s underwhelming ‘fist bump’ meeting this summer, which saw the self-professed leader of the free world falling asleep at a conference table and demanding more Saudi oil production while offering nothing durable in return.

  

  In contrast, Xi’s arrival was greeted by a multi-cannon salute and Saudi jets painting the red and yellow colors of China’s flag in the skies over Riyadh. Beijing’s delegation of political and business elites will continue to meet with Saudi counterparts to strike long-term strategic deals in cultural, economic and scientific domains.

  The visit culminated in the first ever China-Arab Summit on Friday in which Xi met with 30 heads of state. The Chinese foreign ministry described this as “an epoch-making milestone in the history of the development of China-Arab relations.”

  While $30 billion in deals were signed between Beijing and Riyadh, something much bigger is at play which too few have come to properly appreciate.

  Riyadh’s steps toward the BRI since 2016

  Xi Jinping last visited the kingdom in 2016, to advance Riyadh’s participation in China’s newly unveiled Belt and Road Initiative (BRI). A January 2016 policy report by the Chinese government to all Arab states reads:

  “In the process of jointly pursuing the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative, China is willing to coordinate development strategies with Arab states, put into play each other’s advantages and potentials, promote international production capacity cooperation and enhance cooperation in the fields of infrastructure construction, trade and investment facilitation, nuclear power, space satellite, new energy, agriculture and finance, so as to achieve common progress and development and benefit our two peoples.”

  It was only three months later that Crown Prince Mohammed bin Salman (MbS) inaugurated Saudi Vision 2030 which firmly outlined a new foreign policy agenda much more compatible with China’s “peaceful development” spirit.

  After decades serving as an Atlanticist client state with no viable manufacturing prospects or autonomy beyond its role in supporting western-managed terror operations, Saudi Vision 2030 demonstrated the first signs of creative thinking in years, with an outlook toward a post-oil age.

  MBS saying goodbye to President Xi after 3 days of meetings…

  Time will tell, but judging from the cold and humiliating reception of Biden, and the extremely warm reception of China, the US is no longer a close Saudi ally…

  🔊music …🧐 pic.twitter.com/Pyvfb8bMeu

  — Wall Street Silver (@WallStreetSilv) December 11, 2022

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

  On the energy front, China Energy Corp is building a sprawling 2.6 GW solar power station in Saudi Arabia, and Chinese nuclear developers are helping Riyadh develop its vast uranium resources while also mastering all branches of the nuclear fuel cycle.

  In 2016, both nations signed an MoU to build fourth generation gas-cooled nuclear reactors. This follows the UAE’s recent leap into the 21st century with 2.7 GW of energy now constructed. By early 2017, Riyadh had firmly bought its ticket on the New Silk Road with a $65 billion agreement integrating the Saudi Vision 2030 and BRI with a focus on petrochemical integration, engineering, refining, procurement, construction, carbon capture, and upstream/downstream development.

  In the new post-American epoch, signs of this spirit of cooperation and bridge building have increasingly come to be felt, even while its effects have been forcibly restrained – as millions of Yemenis suffering under seven years of war can testify.

  Unlike the Atlanticist fixation on Green New Deals which threaten to annihilate industry and farming, Riyadh’s post-oil outlook is much more synergistic with China’s idea of “sustained growth” that demands nuclear power, continued hydrocarbons, and robust agro-industrial development.

  China’s trade with Saudi Arabia rose to $87.3 billion in 2021, which saw a 39 percent increase over 2020, while US-Saudi trade has collapsed from $76 billion in 2012 to only $29 billion in 2021. Some of this Beijing-Riyadh trade may now be conducted in the Chinese Yuan, which will only undermine the US-Saudi relationship further.

  In the first 10 months of 2022, China’s imports from Saudi Arabia were $57 billion and exports to the kingdom rose to $30.3 billion. China is additionally building 5G systems and cultivating a vast technology hub with a focus on selling electronic goods, all while helping Saudi Arabia build up an indigenous manufacturing sector.

  A trend of Harmonization

  Despite the continued chaos in Yemen, and economic devastation in Lebanon, Syria, and Iraq, Beijing’s subtle trend has nonetheless been one of healing with Saudi Arabia – and regional power Turkiye. Saudi Arabia and Turkiye have often acted as rivals, and front two distinct foreign agendas with broad regional ambitions that overlap on many fronts. But despite this competitive past, higher necessities have induced both nations to harmonize their foreign policy outlooks with a new “look east” focus.

  This was expressed during the Saudi crown prince’s visit to Ankara in June 2022 where the two heads of state called for “a new era of cooperation” with a focus on political, economic, military and cultural cooperation outlined in a joint communique.

  Only days after MbS’s return from Turkiye, then-Iraqi Prime Minister Mustafa al-Kadhimi visited Jeddah to promote regional stability stating in a press release “they changed points of view on a number of issues that would contribute to supporting and strengthening regional security and stability.”

  Iraq and Saudi Arabia had only re-established diplomatic ties in November 2020 due to Saddam Hussein’s invasion of Kuwait 30 years earlier. Between 2021-2022, Iraq had worked hard to host bilateral talks between Saudi Arabia and Iran with five rounds of talks held and Kadhimi stating his belief that “reconciliation is near.” Tehran-Riyadh diplomatic ties were cut in the aftermath of the 2016 execution of outspoken Saudi Shiite cleric Nimr al-Nimr, prompting the storming of the Saudi embassy in Tehran by angry protestors.

  In March 2022, MbS stated that Iran and Saudi Arabia “were neighbors forever” and stated that it is “better for both of us to working it out and to look for ways in which we can co-exist.”

  By August 23, 2022, the UAE and Kuwait created a new milestone by restarting diplomatic relations with Iran. And although nearly every Persian Gulf state (plus Turkiye) had devoted years to supporting regime change in Syria, a new reality has imposed itself with all Arab parties veering toward the Chinese BRI model of regional integration and economic development.

  The Key Role of Iran

  Not only is Iran a key player in the Greater Eurasian Partnership serving as a strategic hub for the southern route of China’s BRI, but it is also a keystone of the Russia-Iran-India-led International North South Transportation Corridor (INSTC) which has become a major force synergizing with the BRI.

  Iraq and Iran themselves are in the final stages of building the long-awaited Shalamcheh-Basra railway which will unite the two nations by rail for the first time in decades while also offering a potential extension to the already existent 1500 km railway through Iraq to Syria’s border.

  The climate for cooperation was undoubtedly made possible by the presence of Chinese economic diplomacy which established a 25 year, $400 billion energy and security deal with Iran – but also Russia, whose similar but smaller $25 billion, twenty-year deal with Tehran may easily expand to $40 billion in Russian investments in Iran’s vast oil and natural gas fields in the coming years.

  Saudi Arabia and Russia’s relationship with OPEC+ demonstrated its potency this summer when Riyadh won the ire of Washington by not only denying Biden’s requests for increased oil production, but cutting overall oil production and driving up global prices of oil. Saudi Arabia benefited by vastly increased imports of discounted Russian oil which were then sold to a desperate Europe.

  Furthermore, Saudi plans to join the global hub of multipolarity itself, BRICS+ (alongside Turkiye, Egypt, and Algeria), in addition to recently becoming a full-fledged Shanghai Cooperation Organization (SCO) dialogue partner, have placed its destiny ever deeper into the growing Multipolar Alliance.

  With the increased potential for stability and harmonization of interests across various power blocs, an atmosphere more conducive to long-term economic investments is finally presenting itself to Chinese investors who had long looked upon conflict-ridden West Asia with justifiable trepidation.

  In August 2022, the Saudi state oil company Aramco and China’s Petroleum and Chemical Corporation Ltd signed an MOU expanding on the aforementioned $65 billion cooperation deal of 2017, which involves the construction of Fujian Refining and Petrochemical Company (FREP) and Sinopec Senmei Petroleum Company (SSPC) in Fujian, China, and Yanbu Aramco Sinopec Refining Company (YASREF) in Saudi Arabia.

  Rail and interconnectivity

  Perhaps most exciting are prospects for interconnectivity that play directly into the development corridors tied to the BRI. In Saudi Arabia, this train has moved steadily apace with the 450 km high speed Haramain Railway built by China Railway Construction Company connecting Mecca to Medina completed in 2018.

  Discussions are well underway to extend this line to the 2400 km North South Railway from Riyadh to Al Haditha completed in 2015. Meanwhile, 460 km of rail connecting all Gulf Cooperation Council (GCC) members is currently under construction, which is driving reforms in engineering, trade schools, and manufacturing hubs across the Arabian Peninsula.

  

  In 2021, all GCC states gave their full support to a $200 billion Persian Gulf-Red Sea high speed railway dubbed “The Saudi Landbridge,” which also dovetails another $500 billion megaproject with vast Chinese investments, dubbed the futuristic NEOM mega-city on the Red Sea.

  The Eurasianists stand to gain

  It can only be hoped that this new chemistry of harmonization and win-win cooperation may soon provide a key to ending the fires of conflict in Yemen and other regional states.

  Further, with Russia and China both helping to broker diplomatic backchannels, and with Iran playing an active role within this process, perhaps negotiations for reconstruction can begin in this war-torn zone of conflict. It is not an extreme stretch of the imagination to see the new Persian Gulf-Red Sea rail project extending north into Egypt and south into Yemen.

  Looking at a map of the region, one can imagine the reactivation of the “Bridge of the Horn of Africa” first unveiled in 2009, that would have extended rail across the 25 km Bab el Mandeb strait connecting pipelines and rail lines into Djibouti and East Africa, more broadly.

  While a western-manipulated Arab Spring derailed that concept in 2011, and the Saudi war against Yemen drove it further under ground since 2015, perhaps this new spirit of inter-civilizational cooperation under a new economic architecture liberated from the Atlanticist-dominated dollar system may provide just what it takes to revive the idea once again.

  Tyler Durden
  Sun, 12/11/2022 – 23:30

• NBC Makes Big Correction In Report On US-Russia Prisoner Swap
  NBC Makes Big Correction In Report On US-Russia Prisoner Swap

  Authored by Zachary Stieber via The Epoch Times,

  NBC News has updated a story that initially claimed President Joe Biden’s administration had a choice between freeing basketball player Brittney Griner and Marine veteran Paul Whelan in the prisoner exchange for Russian arms dealer Viktor Bout.

  

  Citing a person described as a “senior U.S. official,” NBC initially reported that the U.S. government wanted both Griner and Whelan freed as part of the swap.

  “But the official said Russia has treated Whelan differently because he is an accused spy, and that the Kremlin gave the White House the choice of either Griner or Whelan—or none,” the story said.

  Griner was jailed because she brought, by her own admission, cannabis into Russia. Whelan is behind bars because he was convicted of espionage. Whelan has maintained his innocence.

  U.S. officials have described both as “wrongfully detained.”

  

  (Left) Paul Whelan, a former U.S. marine, in Moscow on June 15, 2020. (Right) Women’s National Basketball Association (WNBA) basketball player Brittney Griner at the Khimki Court, outside Moscow on Aug. 4, 2022. (Kirill Kudryavtsev/AFP via Getty Images)

  After Biden spoke about the exchange, claiming there was “not a choice of which American to bring home,” NBC stealthily updated its piece without noting that it was altered, according to archived versions reviewed by The Epoch Times.

  The outlet’s updated version stated, “But the official said Russia has treated Whelan differently because he is an accused spy, and that the Kremlin ultimately gave the White House the choice of either Griner or no one after different options were proposed.”

  Hours later, after critics noted the stealth edit, NBC added a correction.

  “An earlier version of this article misstated the choice the Biden administration was given over hostages. It was to swap for Griner or no one, not a choice between Griner or Whelan,” the correction states.

  An NBC spokesperson did not respond to a list of emailed questions, including why the initial update did not include a correction and what it means when it says it “misstated the choice” the government faced.

  

  U.S. President Joe Biden (R) speaks on the release of Olympian and WNBA player Brittney Griner from Russian custody, at the White House in Washington on Dec. 8, 2022. (Chip Somodevilla/Getty Images)

  ‘Left Behind’

  Critics said the administration should have negotiated the release of Whelan.

  “Paul Whelan has been let down and left behind at least three times by 2 Presidents,” the Bring Our Families Home Campaign said in a statement.

  “He deserves better from his government, and our Campaign implores President Biden to urgently secure Paul’s immediate return using all tools available.”

  White House officials have backed Biden, saying the United States did not have a choice.

  “In recent weeks, it became clear that while Russians were willing to reach an agreement to secure Brittney’s release, they continue to treat Paul Whelan differently, given the nature of the totally illegitimate charges they have levied against Paul,” White House press secretary Karine Jean-Pierre told reporters in Washington this week. “Unfortunately, the choice became to either bring Brittney home or no one.”

  “This was not a choice for us on—of which American to bring home. That was not the choice. It was a choice between bringing home one American or bringing home none,” she added later.

  “Our choices was: Brittney or no one at all. Bring home one American or no American at all.”

  A senior administration official, speaking to reporters on background, offered a similar view.

  “So I want to be very clear: This was not a situation where we had a choice of which American to bring home. It was a choice between bringing home one particular American—Brittney Griner—or bringing home none,” the official said.

  

  U.S. Basketball player Brittney Griner looks through bars as she listens to the verdict standing in a cage in a courtroom in Khimki, outside Moscow on Aug. 4, 2022. (Evgenia Novozhenina/Pool via AP)

  Whelan

  Whelan said after the swap that he was “greatly disappointed that more has not been done to secure my release, especially as the four year anniversary of my arrest is coming up.”

  David Whelan, Whelan’s brother, said he was glad Griner was freed but relayed fresh disappointment, noting that Whelan was also not released in a swap that brought American Trevor Reed home earlier this year.

  “As I have often remarked, Brittney’s and Paul’s cases were never really intertwined. It has always been a strong possibility that one might be freed without the other. The sentiments I shared in April about Trevor are unchanged: this is the event we wish for so much for our own family. She will be reunited with her family. Brittney is free. And Paul is still a hostage,” David Whelan said.

  “But how many more times do I need to write that?”

  Other Americans still in Russian custody include Marc Fogel, a teacher who was arrested in Moscow in 2021 with marijuana, which he reportedly uses as medicine following a spinal injury.

  Bout was serving a 25-year sentence for conspiring to kill Americans. He was convicted in late 2011.

  Bout was described by then-Attorney General Eric Holder as “one of the world’s most prolific arms dealers.”

  Tyler Durden
  Sun, 12/11/2022 – 22:30

• China's Top Medical Advisor Says Omicron No More Dangerous Than The Flu
  China’s Top Medical Advisor Says Omicron No More Dangerous Than The Flu

  About a year ago, the nation was on the verge of another lockdown when a tidal wave of Omicron infections prompted those who use masks alone… in their car… with their windows down, to hyperventilate that covid is about to kill several million more Americans, and anyone who suggested that this was nothing more than the flu was promptly suspended from twitter most likely by this guy, er gal: Melissa Ingle.

  Former content moderator employee at Twitter speaks out. Do you believe this person enforced twitter ToS fairly and equally for all persons?

  pic.twitter.com/3qverDTdPK

  — John Curtis  (@Johnmcurtis) November 23, 2022

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

  … deplatformerd demonetized and canceled.

  So it was with great shock that we read today that once again, all those “conspiracy theorists” were dead on: according to Chinese officials, who have continued to downplay the risks of Covid-19 as the country’s idiotic covid zero restrictions are further eased after the economy ground to a halt following two years of lockdowns, with a top medical adviser saying the fatality rate from the omicron variant of the virus is in line with influenza.

  Echoing what so many mouth-breathing rednecks said for most of the past year – at least according to their far more intelligent (in their own opinion) big-city dwelling liberal peers all of whom have at least one and more mental disorders, the death rate from omicron is around 0.1%, similar to the common flu, and the infection rarely reaches the lungs, Zhong Nanshan was quoted in an interview with state news agency Xinhua. Most people recover from the variant within seven to 10 days, he said.

  Zhong’s comments follow the government’s latest line on the coronavirus, which – two weeks after sporadic violent protests nearly sunk the Xi regime – has been suddenly talking down the disease’s dangers as China moves toward exiting its Covid Zero policy. The nation reported 10,514 local infections for Saturday, more than 20% lower than Friday. Doubts have been raised about the accuracy of case numbers because fewer people are being tested, but one could say the same about the numbers on the way up.

  But one thing is certain: China’s covid slowdown is history.

  Still, China is not in the clear just yet: on Saturday, Zhong was quoted saying that there’s an “urgent need” to increase booster-shot rates as travel during upcoming holidays will raise the risk of a large-scale spread.

  “It’s unlikely people will stay put for the 2023 Lunar New Year holiday so I advise those who will travel home to get booster shots so that even if they are infected, symptoms will be mild,” he said.

  The Lunar New Year holiday runs from Jan. 21 to Jan. 27 but usually lasts about 40 days as people take off before and after the official break. Hundreds of millions of Chinese return to their home provinces for family reunifications during New Year.

  China issued a plan on Sunday to enhance capacity of county-level medical facilities to better protect people living in rural areas from Covid. It requested such hospitals to boost their intensive care unit capacity by the end of December. Medical staffers from pediatrics and other units need to receive training on how to look after patients in ICU, according to the plan.

  Separately, in a Sunday commentary, the Communist Party’s flagship People’s Daily said local governments have swiftly put into practice the 10 new Covid measures announced by the National Health Commission last week, including a reduction of mass testing and loosening of quarantine rules. Regions including Chongqing, and cities in Liaoning, Shandong and Guangdong have urged schools to resume offline teaching, the paper reported separately.

  These new measures will pave the way for China to further optimize Covid controls in the future and eventually claim victory over the outbreak, the commentary said.

  But back to the main topic, the end of covid in China, state-backed tabloid Global Times on Sunday cited Zeng Guang, a former chief epidemiologist at the Chinese Center for Disease Control and Prevention, as saying that suggestions for China to downgrade its Covid control from the top Category A to Category B has gained momentum in the scientific world.

  Once Chinese scientists have reached a consensus that variations of the coronavirus continue to be less dangerous, China will downgrade its Covid control at the right time, Zeng said. China currently classifies Covid-19 as a Category-B disease, but is controlling it as a Category-A disease.

  China’s road to reopening could be “bumpy,” which coupled with the scenario of a mild recession in Europe and the US may lead to a tougher economic climate, Goldman Sachs Group Inc. President John Waldron said via video link at Shanghai’s Bund Summit on Saturday.

  “That will obviously have some negative implications for growth,” Waldron said, in remarks that underscore how lenders are gauging the impact of China’s pivot from a Covid Zero policy.

  Tyler Durden
  Sun, 12/11/2022 – 22:00

• Ex-CIA Officer: The Lies Spies Tell About Assange
  Ex-CIA Officer: The Lies Spies Tell About Assange

  Authored by John Kiriakou via Consortium News,

  I attended a panel discussion at the National Press Club last week (Monday) about the fate of WikiLeaks co-founder Julian Assange. The event happened to be at the National Press Club, but it was actually sponsored by the Michael V. Hayden Center for Intelligence, Policy, and International Security at George Mason University. Hayden, the notorious former director of both the C.I.A. and the N.S.A., who oversaw the C.I.A.’s torture program during part of the George W. Bush administration, was front and center at the event. 

  The panel, moderated by Sasha Ingber, a national security correspondent in Newsy’s Washington, D.C., bureau, included Assange’s U.S. lawyer Barry Pollack, one of the finest criminal defense attorneys in America; Gabe Rottman, a senior attorney at the Reporters Committee for Freedom of the Press; the notorious Mark Zaid, who bills himself as a “whistleblower attorney,” but who has probably done more damage to legitimate whistleblowers than any other person in Washington; and Holden Triplett, a former F.B.I. agent and former director for counterintelligence at President Donald Trump’s National Security Council.

  

  While acknowledging my own biases (Pollack is a genius and Zaid is a scoundrel), the one thing that surprised me was how utterly clueless Holden Triplett was. This is a guy who promotes himself as a counterintelligence expert. He runs a consulting company hilariously named “Trenchcoat Advisors.” 

  Triplett claims to have been a top F.B.I. counterintelligence official in the U.S. embassies in Moscow and Beijing. And he served Donald Trump loyally for two years in a GS-14 position at the White House.  Triplett made no mention of why he left the F.B.I. before qualifying for the pension. What struck me most about Triplett was his willingness during the event to throw a rhetorical turd into the middle of the room and then to expect the audience to nod politely and agree with him. 

  On more than one occasion, he made completely unfounded statements about Julian Assange, only to then have the neoliberal Washington swells nod in agreement, despite having literally no evidence to back up his assertions. He said, choosing his language carefully, for example, that “When I look at anything Julian Assange has done over the years, whatever it is has the hallmarks of a Russian intelligence operation.” 

  ‘Hallmarks’ & ‘Earmarks’

  Notice the language there. He didn’t say that Julian was a Russian agent. He didn’t say that WikiLeaks was working for or on behalf of the Russians. He said that it all had the hallmarks of something that Russian intelligence would do. 

  

  The language is meant, of course, to bring the DNC/MSNBC crowd over to his point of view. And judging by the reception he got, he was mostly successful.

  Triplett’s disingenuous and damaging statements reminded me very much of an open letter published in October 2019 and signed by more than 50 retired senior C.I.A. and other Intelligence Community officials, saying that the Hunter Biden laptop “had all the classic earmarks of a Russian information operation.” 

  They ignored the fact that Hunter Biden said that it was his laptop. These esteemed intelligence professionals offered no proof of an intelligence operation, of course, even though most, if not all, currently maintain their security clearances. They threw that same rhetorical turd into the middle of the room and expected all the rest of us to nod in agreement.

  It wasn’t flunkies who signed this letter. It was otherwise serious people, including National Press Club conference host Hayden; former Director of National Intelligence James Clapper; former Secretary of Defense and C.I.A. Director Leon Panetta (himself a well-documented leaker); torture-supporter and former C.I.A. Director John Brennan; torture apologist and former Acting C.I.A. Director Mike Morrell; among others. 

  They offered no proof of any ties between the Hunter Biden laptop and Russia, between Trump’s election as president in 2016 (which they went on about at length) and Russia, or between WikiLeaks and Russia. 

  We’re just supposed to take their word for it because they’re important, smart and well-placed. I can’t tell you how many times I’ve heard the likes of these signatories say, when somebody disagrees with them, “Well, if you could only see the information that I see…,” or “If you had access to the information that I have access to … .”

  It’s time to call a spade a spade. They’re lying. And they want us to believe their lies. I was at the C.I.A. too. I underwent the same training that they underwent. And if there was one thing the C.I.A. taught me, it was that if I was going to make a judgment or draw a conclusion, I had to offer proof. I wasn’t allowed to hide behind language like, “all the hallmarks of” or “leads me to believe…”. If you don’t have any proof, keep your mouth shut.

  In the meantime, I was greatly heartened by the confidence that Pollack exuded at the National Press Club event. Julian Assange is in good hands. Barry will provide him with the best defense possible. 

  As for these other characters, it’s up to the rest of us to counter them and their propaganda. It’s up to us to demand the truth.

  John Kiriakou is a former CIA counterterrorism officer and a former senior investigator with the Senate Foreign Relations Committee. John became the sixth whistleblower indicted by the Obama administration under the Espionage Act—a law designed to punish spies. He served 23 months in prison as a result of his attempts to oppose the Bush administration’s torture program.

  Tyler Durden
  Sun, 12/11/2022 – 21:30

• Oregon Eyes 2023 Crackdown On Illegal Marijuana Growers
  Oregon Eyes 2023 Crackdown On Illegal Marijuana Growers

  Oregon lawmakers are looking to crack down on illegal marijuana growers who aren’t abiding by the state’s 2014 laws governing recreational use and cultivation.

  

  Year-to-date, approximately 95 metric tons of illegally grown marijuana have been seized across the state, according to the Oregon-Idaho High Intensity Drug Trafficking Area task force. In 2019, they seized just 8 metric tons.

  The 2014 legislation was supposed to eliminate problems caused by “uncontrolled manufacture” of the drug, however growers haven’t all magically agreed to the taxes and red tape that accompanied the legalization. Now, officials who have heard complaints from everyone from legal growers to the police are looking to crack down, AP reports.

  Now, a draft bill set for introduction in the 2023 legislative session would double the maximum fine and prison sentence for illegal grows to 10 years and $250,000 for those growing more than 100 plants, or possession in excess of 32 times the legal limits.

  

  The bill would also limit personal possession to 2 ounces of marijuana in a public place, and 8 ounces at home.

  The measure also holds people accountable for environmental damage and prohibits use of water at locations not licensed for growing marijuana. Addressing immigrant labor, the draft bill makes it a crime for managers of an illegal grow site to confiscate a passport or immigration document, to threaten to report a person to a government agency for arrest or deportation, or withhold wages without lawful justification.

  Some parts of Oregon have seen record seizures as police raid plantation after plantation. Police say foreign criminal gangs have become involved, from Mexico, Russia, China and other countries. -AP

  In October, a single raid in Yamhill County yielded 76,930 pounds of marijuana –  roughly $76 million worth, the largest pot bust on record. According to the report, the haul would be worth $269 million on the East Coast.

  

  “Investigators found the entire property had been converted to facilitate the growth, storage, processing, and packaging of marijuana to be shipped or transported out of the area,” said the sheriff’s office.

  And in another October raid, Oregon State Police, with the assistance of SWAT officers, raided a property in southern Oregon – destroying around 1,000 pounds of illegal, processed marijuana. Firearms, stolen vehicles and the carcass of a black bear were found in the raid.

  Tyler Durden
  Sun, 12/11/2022 – 21:00

• Dupe Or Designated Defendant? The Criminal Case Against Jack Dorsey
  Dupe Or Designated Defendant? The Criminal Case Against Jack Dorsey

  Authored by Jonathan Turley via jonathanturley.org,

  The latest Twitter disclosures have raised potential legal liability for Twitter and its executives. No one appears more at risk than Twitter’s former CEO Jack Dorsey

  

  It is an ironic turn of events since Dorsey supported the takeover by Elon Musk and has called for all files to be released without filtering. Dorsey has the feel of a “designated defendant,” someone who was pushed forward by others to take any legal hit.

  On its face, Dorsey has vulnerability after the latest release. He was repeatedly asked by members of Congress about censoring and shadow-banning, which has now been confirmed in these files.

  In September 2018, Dorsey testified under oath and denied what these files appear to now confirm. Rep. Mike Doyle, D., Pa., asked, “Social media is being rigged to censor conservatives. Is that true of Twitter?”

  Dorsey responded, “No.”

  Doyle then asked “Are you censoring people?”

  “No,” Dorsey said.

  “Twitter’s shadow-banning prominent Republicans… is that true?” Doyle asked.

  Dorsey again said no.

  Dorsey was also asked about my prior testimony on private censorship in circumventing the First Amendment as a type of censorship by surrogate. Dorsey and the other CEOs were asked about my warning of a “‘little brother’ problem, a problem which private entities do for the government that which it cannot legally do for itself.” In response, Dorsey insisted that “we don’t have a censoring department.”

  It now appears that the entire company was operating as a censoring department. However, there were in fact super-censors. Dorsey did not mention the Strategic Response Team-Global Escalation Team (SRT-GET), which operated above what journalist Bari Weiss described as “a level beyond official ticketing, beyond the rank-and-file moderators following the company’s policy on paper.”

  That group reportedly included Vijaya Gadde, head of Legal, Policy and Trust; Yoel Roth, the global head of Trust and Safety; CEOs Jack Dorsey and Parag Agrawal, and others.

  Notably, others at the company made similar denials as Dorsey but may not have done so under oath. In 2018, Gadde and head of product Kayvon Beykpour expressly declared, “We do not shadow-ban. And we certainly don’t shadow-ban based on political viewpoints or ideology.”

  Even if untrue, lying in public is generally not a crime. However, when you repeat a lie to federal investigators or Congress or the courts, it becomes a federal offense.

  The question is whether Dorsey was left in the dark on these decisions. He was reportedly a member of SRT-GET. However, some of the files indicate that these decisions may have been made without his knowledge. That includes the decision on the Hunter Biden laptop scandal, which Dorsey called a “total mistake.”

  Dorsey could quibble over the term “shadow-banning” but the question was obviously meant as a follow-up to the inquiry over “rigging” discourse on the platform. He could also stress other answers, where he tied “shadow-banning” to a more subjective notion of political bias. For example, Dorsey also repeated these statements in public, including an appearance with Sean Hannity on Fox, when he was asked if “Twitter has ever been involved in shadow-banning, Dorsey again categorically denied such practices: “We do not shadow-ban according to political ideology or viewpoint.”

  For most people, Dorsey’s comments clearly suggested that there was no shadow-banning. However, he could claim that he knew that they were shadow-banning but that they were not doing so “according to political ideology or viewpoint.” That is clearly refuted by the new files showing a hair-triggered censorship system directed against conservative and Republican posters.

  The other defense is lack of knowledge but, even if accepted, that will raise the question of whether this was a case of a designated defendant or willful blindness. 

  In some cases, there is a suspicion that corporations will assign some executive to sign off on compliance or certifications as the fall guy or designated defendant if things go wrong. The chump is often a junior lawyer or executive who takes personal responsibility for certifying a false fact.

  Dorsey is clearly no chump or junior executive. The question is then whether this was a case of willful blindness or an attempt by other executives like Gadde or Roth to give him plausible deniability by keeping him in the dark.  He then became the public face in unequivocally and confidently denying practices like shadow-banning.

  The greatest defense for Dorsey may be found in the Justice Department itself. Any prosecution of Twitter executives could prove a hard sell for Attorney General Merrick Garland, whose department has been repeatedly accused of pronounced political bias. 

  While Garland has aggressively pursued contempt sanctions against Trump associates, it is not clear if he would prove as aggressive with Democratic allies like Dorsey or other Twitter executives. He could face that question if the House under the GOP pursues perjury or contempt sanctions.

  Dorsey once said about Twitter that “It’s really complex to make something simple.” He may now be hoping that his answers before Congress were simple enough to make any prosecution complex.

  Tyler Durden
  Sun, 12/11/2022 – 20:30

• Destructive Ambiguity In Crypto Regulation
  Destructive Ambiguity In Crypto Regulation

  By Marcel Kasumovich, Deputy CIO of One River Asset Management

  Market Notes: Destructive Ambiguity In Regulation

  “Had we over-regulated the Internet early on, we would have missed out on many innovations that we can’t imagine living without today. The same is true for blockchain. Disruptive technologies rarely fit neatly into existing regulatory considerations, and rigid regulatory frameworks have repeatedly stifled innovation. It’s likely that innovations in the Blockchain will outpace policy, let’s not slow it down.”

  Brookings Institution made this declaration in 2015. It is time to heed those wise words.

  But it’s money. The stakes are higher. That digital assets have lived to see their fifth bear market is already an achievement. Liberty Reserve is a reminder of how hard it is to survive. Regulatory clarity is THE issue. It’s not easy. It’s especially hard for technology built to shred powerful middlemen. Be attentive to the resilient components of the ecosystem. They matter most in disruptive downturns. Those are the building blocks. Today, it is Bitcoin, Ethereum, and Stablecoins – more than two-thirds of the market cap (Figure 1). Tomorrow, it will be the things built on those foundations.

  

  Discussions on regulation are met with a natural first response: I’m not a lawyer. You don’t have to be. Follow the money. That trail will tell you a lot about regulatory policy and compliance. Where are my assets? Most investors want to spend time focused on price risk and portfolio construction, not operational ones. Yet, the digital financial crisis has investors reasonably going back to the basics: Custody, the foundation for institutional scale.

  “Self-custody.” Aren’t digital assets about bringing users control? Yes, to a point. The concept of unhosted wallets, or “self-custody,” removes counterparty risk entirely. It pushes all the risk to the investor. The user controls the keys, and thus, the assets. For individuals, this can be a powerful tool. The keys are used to identify your place on the blockchain. However, lose the keys, and you lose your assets. It also introduces various regulatory issues, such as the Travel Rule for money under the Bank Secrecy Act. Unhosted wallets need to adhere to these rules to avoid illicit activity.

  But unhosted wallets are not institution friendly. “The investor” in this case is an institutional machine. Private keys can be broken into pieces. To unlock assets requires an entire key, and diversity of the pieces can ensure security. Phrases can be stored in multiple places. Unhosted wallets could be widespread. But this isn’t where institutions start. Reasonably. State Street. BNY Mellon. These are familiar custodial arrangements and native digital players need to come as close as possible to replicating them. And they have.

  Demand for hosted, third-party custody solutions has mirrored that of institutional interest in digital assets. Figure 2 illustrates industry players in custodial solutions over time. There’s a surge in 2018, just after the super-spike in digital assets in 2017. In the most recent cycle, traditional banks were drawn to provide custodial support, just in time for the peak in 2021 asset prices. The solutions are there, but not all are created equal. And investors would like tools familiar to traditional markets.

  

  “Qualified custodian” is one of those familiar elements. Digital custodians were attracted to this standard. But there’s an issue – it is defined by the Custody Rule, regulated by the SEC, and there appears no urgency to provide clarity for digital assets. Entities seeking regulatory clarity found creative solutions through State Chartered Trust Companies. Independently capitalized. Segregated assets. 100% reserved. Deep cold storage solutions. In 2018, digital “qualified custodians” were led by the New York State Department of Financial Services. It is an institutional standard.

  Yet, there are roadblocks imposed by regulators. The Staff Accounting Bulletin No. 121 took banks out of the custody business. “The staff believes that Entity A should present a liability on its balance sheet to reflect its obligation to safeguard the crypto-assets held for its platform users.” Traditional custody is off balance sheet. Custodial services are uneconomic as banks are capitalized to gross balance sheets. A win for digital custodians? Not quite. The Bulletin required disclosure that custodial assets may not be protected in bankruptcy, adding uncertainty rather than clarity.

  Pulling on the disclosure thread takes us down another regulatory path – the Uniform Commercial Code (UCC) that governs all US commercial transactions. Digital assets do not fit neatly into UCC. We learned the same with our Digital Income strategy. And there has been little effort to provide clarity to date. Service providers are now spelling it out for users. Agreements are being updated to state the applicability of UCC Article 8. That article implies custodial assets are bankruptcy remote from general creditors. This is the same legal protection offered in traditional asset markets.

  Clarity is being realized by enforcement. The wave of bankruptcy is bringing clarity to custody issues – Celsius’s segregated customer assets are being returned to the customer. And precedent is being set on the value of regulatory clarity. LedgerX, a derivative intermediary, was part of the FTX family and excluded from the bankruptcy filing. It has been subject to CFTC regulatory oversight since 2017. Simple things followed. Communication lines between LedgerX and the CFTC. Capital requirements to meet operating costs. Segregation of client assets. Regulation worked.

  Don’t let any crisis go to waste. The transformative potential of digital assets is driven by their resiliency – the foundations can’t be easily killed. Big thinkers on money, like Hayek, contemplated the issues holistically. When in doubt go back to those. Hayek’s thinking was simple – competition is good. Why should money and its regulations be different? Hayek evaluated innovation in the monetary sector through digital currencies long before their existence. His last revision on the topic was in 1990, at the age of 91. Life is long. Live it.

  Tyler Durden
  Sun, 12/11/2022 – 20:00

• North Carolina Treasurer Wants BlackRock CEO Larry Fink To 'Resign Or Be Removed'
  North Carolina Treasurer Wants BlackRock CEO Larry Fink To ‘Resign Or Be Removed’

  Authored by Nathan Worcester via The Epoch Times (emphasis ours),

  You might call it the “battle of BlackRock.”

  

  The conflict, which pits Republican officials in states across the country against the world’s largest asset manager, has only intensified in recent months.

  Just days ago, Florida became the latest state to pull money from BlackRock—in its case, $2 billion in state-controlled assets.

  The state’s chief financial officer, Jimmy Patronis, explained that “using Florida’s cash to fund BlackRock’s social-engineering project isn’t something we signed up for.”

  Now, North Carolina Treasurer Dale Folwell has taken the rhetoric up another notch.

  In a Dec. 9 letter to BlackRock’s board of directors, he called for the firm’s CEO, Larry Fink, to “resign or be removed” from his position.

  

  Folwell argued that BlackRock’s focus on “environmental, social and corporate governance” (ESG) under Fink’s leadership runs contrary to its fiduciary duty—in other words, its legal obligation to serve its clients’ best interests.

  Those many clients include the North Carolina Retirement System, for which Folwell serves as sole fiduciary. Of the $111.4 billion fund, $14 billion is presently managed by BlackRock, according to the letter.

  ESG is an investment philosophy that aims to embed particular values—for example, concern about climate change—into the financial system. Its conservative critics argue that it distorts the economy by privileging politically correct sentiment over the hard realities of the market.

  Folwell warned that Fink’s “pursuit of a political agenda has gotten in the way of BlackRock’s same fiduciary duty.”

  “A focus on ESG is not a focus on returns and potentially could force us to violate our own fiduciary duty,” he added—a broad hint, perhaps, at a potential future willingness to divest from the asset manager.

  Florida’s divestment from BlackRock isn’t the only such move in the last several months.

  Under Missouri’s Republican Attorney General Eric Schmitt, now the Show Me State’s senator-elect, millions in Missourians’ retirement dollars were taken out of BlackRock’s hands.

  

  Louisiana, Utah, and Arkansas have followed similar courses of action.

  The biggest concern from many of those states has been BlackRock’s efforts to steer investors away from fossil fuels, out of a stated concern with climate change driven by human activity.

  In his 2020 Letter to Shareholders, Fink wrote that “in the near future—and sooner than most anticipate—there will be a significant reallocation of capital.

  Fink went on to tout BlackRock’s “initiatives to place sustainability at the center of our investment approach.”

  A subsequent list of those initiatives included “exiting investments that present a high sustainability-related risk, such as thermal coal producers” and “launching new investment products that screen fossil fuels.”

  Treasurers, attorneys general, and other officials from fossil fuel-producing states have argued that BlackRock’s ESG-related commitments undermine the prosperity and stability of their own communities.

  BlackRock, for its part, has responded to the ongoing pressure campaign from state-level officials with a website, “Energy investing: Setting the record straight.”

  There it argues that it identifies climate change as a long-term risk it needs to protect its clients’ interests from.

  “Our consideration of the risks and opportunities of a transition to a low-carbon economy is in the interest of realizing the best long-term financial results for our clients and entirely consistent with our fiduciary duty,” that website states.

  Many environmental groups argue that the big banks and asset managers targeted by Republican officials are not doing enough to promote fossil fuel divestment. They’re among the biggest supporters of ESG-like policies to transform the private sector under President Joe Biden, such as the Securities and Exchange Commission’s (SEC) proposal to mandate climate-related disclosures from publicly traded companies.

  

  A Dec. 8 article from the Sierra Club, for example, praised BlackRock for “starting to push back” against Republican officials’ campaign against ESG.

  Yet they noted that BlackRock continues to manage fossil fuel investments on behalf of its clients.

  The Epoch Times has reached out to BlackRock for further comment.

  Tyler Durden
  Sun, 12/11/2022 – 19:30

• Identical Twins Awarded $1.5 Million Over Med School Cheating Accusations
  Identical Twins Awarded $1.5 Million Over Med School Cheating Accusations

  Identical twin sisters who were accused of cheating on their year-end medical school exams have been awarded $1.5 million in a defamation case against the Medical University of South Carolina.

  

  Kayla and Kellie Bingham were accused of “academic dishonesty” in May 2016 after test proctors deemed their exam performance to be too close to be a coincidence – with identical answers to 296 out of 307 questions, including 54 wrong answers. University officials launched an investigation, and a school “honor council” alleged the sisters were “signaling one another and passing notes,” according to court documents. The school ultimately ruled they had cheated on the exam.

  “It was an eight-hour exam during which we exhibited normal test-taking behavior,” Kayla Bingham told CBS MoneyWatch.

  The Binghams successfully appealed the decision and filed a lawsuit against the university, arguing that for years they had behaved and performed similarly academically and in athletics. After a four-day trial in November, a South Carolina jury decided the school had defamed the sisters and awarded them a total of $1.5 million in damages. 

  The Binghams’ legal case hinged on the theory that it is common for identical twins to perform similarly on tests given their genetic profiles. Nancy Segal, who runs California State University, Fullerton’s Twin Studies Center and who testified in the case, said numerous studies show that identical twins often perform similarly on a range of cognitive tests. -CBS News

  “There is a wealth of psychological research that shows that identical twins do perform very similarly on tests of intelligence, information processing and speed of response, and I was not at all surprised they turned in very similar exams,” said Segal. “When identical twins perform very differently it catches our attention.”

  “When they perform alike, it’s very consistent with the literature. I would have been surprised if they hadn’t scored alike.”

  The Binghams claimed that the allegations of cheating caused them psychological distress, which included panic attacks and post-traumatic stress disorder.

  “It was a very hostile environment. People we had known, sat next to and studied with for two years would not speak to us,” Kellie Bingham told CBS. “They knew our work ethic and study habits but refused to hear our side of the story. People we trusted completely turned their backs on us.”

  The university’s accusation and the events that ensued also interfered with the Binghams’ plans to become doctors. The two now work as government affairs advisers at the same South Carolina law firm.

  And according to Kayla, “We came to understand that once word gets out, even if it’s not accurate, it damages your reputation as a person. So we completely switched tracks,” adding that she “wanted to fight back because I had been wronged.”

  Tyler Durden
  Sun, 12/11/2022 – 19:00

• Ban TikTok Everywhere?
  Ban TikTok Everywhere?

  Authored by Anders Corr via The Epoch Times (emphasis ours),

  It’s time to ban TikTok. The social media app is wildly popular with young adults and children but controlled by an authoritarian regime in China. Apple rates the platform for users ages 12-plus. Yet the Chinese Communist Party (CCP) uses the app’s secret algorithm to influence and track their opinions, messaging, keystrokes, and locations.

  

  One billion users globally are vulnerable to the theft of their passwords and future blackmail. Based on data already collected, TikTok could leverage American leaders over the entire 21st century.

  TikTok is expanding into online purchases, music, search engines, warehouses, and fulfillment centers. It would like to become an everything app that replaces Google, Apple, Twitter, Amazon, and Facebook.

  Unfortunately, the Biden administration is doing next to nothing against the threat that TikTok poses to the American public and economy. The silence of most Democrats on the issue is a form of complicity.

  Republican States Against TikTok

  But Republicans in Congress and state capitals across the United States are increasingly voicing their concerns and stepping up to the plate.

  Nebraska’s Governor Pete Ricketts was the trendsetter, having banned TikTok on state-owned and leased devices two years ago. In the past few weeks, other Republican leaders—including in Texas, South Dakota, South Carolina, Maryland, and Arkansas—have taken similar actions.

  The State of Indiana filed two lawsuits against Tiktok, alleging the app deceives consumers about content and security. Indiana claims the algorithm purposefully addicts young people. One lawsuit claims it promotes inappropriate content and is linked to mental and eating disorders.

  

  Indiana’s Republican Attorney General Todd Rokita said, “TikTok is actively exposing our children to drug use, alcohol abuse, profanity and sexually explicit material at a young age.”

  In South Carolina, the Republican governor not only removed the app from government devices, but asked state offices to block TikTok’s website.

  Republican Governor of Maryland Larry Hogan issued an emergency cybersecurity directive prohibiting technologies from both Russia and China, including TikTok, from the executive branch.

  South Dakota’s tourism bureau deleted its TikTok account of 60,000 followers.

  These states are stepping up to pay the price for U.S. national security.

  South Dakota’s Governor Kristi Noem, who signed the state’s executive order against TikTok, wrote that the CCP collects personal information on users, including internet browsing data and keystrokes. That would mean it could harvest passwords.

  In an opinion article, Noem criticized the Biden administration for insufficiently protecting the United States from foreign adversaries.

  “Mr. Biden hasn’t demanded that Beijing or TikTok cease gathering the data of American citizens, and he hasn’t pushed Congress to ban the app nationally,” she wrote. “By refusing to respond to this threat, the president is allowing China’s communist leaders to continue their attack on American security.”

  Noem also plans to work with South Dakota’s legislature to address China’s buying of American farmland. Companies from China often purchase land near U.S. military bases, threatening surveillance of strategic assets, including nuclear weapons.

  “South Dakota is showing the nation how to create a state-led response to threats from communist China,” the governor wrote. “We are taking the lead on preventing Beijing from accessing the private data of our citizens and throttling our food supply.”

  Noem, a Republican, will get support from most of South Dakota’s voters as 53 percent are Republicans, compared to only 37 percent Democrats. China can be a bipartisan issue—perhaps many Democrats will support her measures. But TikTok users and farmland owners could turn against her.

  Taking a strong position against the CCP, even on a bipartisan issue in the United States, carries political risk.

  Biden’s Big Choice

  The Biden administration faces increasing risk from its limited options on the TikTok issue as well. Whether it bans the app or not, someone will be unhappy.

  Read more here…

  Tyler Durden
  Sun, 12/11/2022 – 18:30

• White House Says Still "Negotiating" For Whelan's Release, Lashes Out At Critics
  White House Says Still “Negotiating” For Whelan’s Release, Lashes Out At Critics

  The Biden administration says it is still engaging with Moscow in an ongoing attempt to secure detained Marine veteran Paul Whelan’s release from the Russian prison where he’s serving a 16-year sentence, which reportedly involves hard labor.

  On Sunday, National Security Council spokesman John Kirby told ABC’s “This Week” the US is still “negotiating” for his release – confirming that recently a “very serious, specific proposal” was made to the Russians.

  

  He further gave some background on the Brittney Griner release while seeking to deflect widespread criticisms that Whelan was left behind for the less serious case of WNBA star Griner. Biden has been accused of simply choosing her for her fame and the bigger PR campaign rallying behind her.

  Kirby described that for months the White House pushed hard to gain Whelan and Griner’s release together, but “it just didn’t land anywhere… with the Russians,” he explained in the Sunday comments.

  “As we progressed through this summer and into the fall… it was clear that they were treating Paul very separately, very distinctly because of these sham espionage charges they levied against him.” Kirby said that just before Griner’s release it became clear that Whelan’s release would remain unlikely. 

  “It really occurred to us that there was just no chance of doing it last week… we had been trying all the way up until the moment we actually secured the deal that got Brittney home, we were still trying to get Paul out,” he said.

  Days ago CNN cited US officials who listed some of the Russian names that could potentially be included in a future Whelan swap: 

  US officials made quiet inquiries to the Germans about whether they might be willing to include [Vadim] Krasikov in the trade, a senior German government source told CNN earlier this year. But ultimately, the US was not able to secure Krasikov’s release. The German government was not willing to seriously consider including Krasikov –who assassinated a Georgian citizen in broad daylight in Berlin in 2019 – in a potential trade, the German source said.

  The US made several other offers to the Russians, sources said, to try to get them to agree to include Whelan in the swap. Among the names floated by the US was Alexander Vinnik, a Russian national extradited to the US in August on allegations of money laundering, hacking and extortion. The US also offered to trade Roman Seleznev, a convicted Russian cyber-criminal currently serving a 14-year sentence in the US, sources said.

  “We’re going to keep trying as hard as we can,” White House’s John Kirby tells @MarthaRaddatz after U.S. was unable to negotiate release of Paul Whelan.

  “This business of getting wrongfully detained Americans home, there’s nothing easy about it.” https://t.co/xc7EPeqf8J pic.twitter.com/eZX9CARGwQ

  — This Week (@ThisWeekABC) December 11, 2022

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  The biggest name on that list is Vadim Krasikov, a former colonel from Russia’s domestic spy organization. He’s serving out a life sentence in Germany for murder after being convicted in the assassination of a former Chechen fighter, Zelimkhan “Tornike” Khangoshvili, which was carried out in a Berlin park.

  Kirby used the Sunday morning media interviews to lash out at the White House’s critics who point to the Russians getting the deal of the century in Viktor Bout’s release.

  “They weren’t on the phone. They weren’t watching the incredible effort and determination by [Roger Carstens] and his team to try to get both Paul and Brittney out together,” Kirby said. “In a negotiation, you do what you can. You do as much as you can. You push and you push and you push. And we did. And this deal we got last week, that was the deal that was possible. It was the deal we could get now. Now was the moment we could get it, and we executed it.”

  Tyler Durden
  Sun, 12/11/2022 – 18:00

• 14 Border Agents Committed Suicide In 2022
  14 Border Agents Committed Suicide In 2022

  Authored by Madalina Vasiliu via The Epoch Times (emphasis ours),

  Fourteen Customs and Border Protection (CBP) agents who worked at the southern border committed suicide this year, according to members of Congress.

  

  The Republican and Democrat lawmakers released the grim, and growing, tally during a press conference on Dec. 7 at the House Triangle.

  Between 2007 and Nov. 2022, a total of 149 CBP agents located at the U.S. southern border took their lives.

  CBP agents are exposed to traumatic experiences that affect their lives, said the lawmakers, noting that it’s common for law enforcement officers to keep their mental health needs to themselves.

  CBP agents feel abandoned by the current administration, Rep. Mayra Flores (R-Texas) said, referring to President Joe Biden’s recent remarks.

  When asked on Dec. 6 why he wasn’t going to the border while visiting a border state, Biden told reporters at the White House it was “because there are more important things going on.”

  Rep. Tony Gonzales (R-Texas) said, “While in Washington, there’s a lot that divides us in policy and often drives us in a lot of different directions, but there are a lot of things that should unite us.”

  

  During the 2022 fiscal year, $23 million has been allocated to the mental health of CBP agents, Rep. Henry Cuellar (D-Texas) said, adding that the same budget for the 2023 fiscal year will be the same.

  The Taking Action to Prevent Suicide (TAPS) Act would allow CBP agents to freely speak with health care professionals without fear of losing their jobs as well as increase the number of local behavioral health specialists with the expertise to provide psychological assistance to CBP officers.

  If there are no health care experts in the agency, Cuellar said, the government should work with local organizations to provide what the CBP agents need for their mental health.

  

  “Until we take out the fear of law enforcement coming forward and talking about their mental health issues, they’re never going to do it,” said Brandon Judd, president of the Border Patrol Union.

  There needs to be more than a friendly social worker, said Rep. Elissa Slotkin (D-Mich.). CBP agents should have health care personnel trained to guide them through traumatic experiences when necessary, she added.

  “We all know that our immigration system is fully broken. It is working for no one. Therefore, the folks who are manning the southern border are bearing the brunt of our failed policies,” Slotkin said.

  The Epoch Times previously obtained data indicating that CBP captured 209,664 illegal aliens along the southern border in October.

  Rep. Darren Soto (D-Fla.), said that CBP’s southern agents need more advanced technology, such as sensor towers and refugee processing facilities. Soto supports Biden’s proposed homeland security budget “to keep our homeland safe and respect international refugee laws.”

  “While many of us may have disagreements on border solutions, both here and across Congress, we still have to come together, find common ground, find solutions like the TAPS Act because our Border Protection officers deserve nothing less for protecting our homeland,” Soto told the press.

  Tyler Durden
  Sun, 12/11/2022 – 17:30

• "Egregious": McCarthy To Subpoena 51 Intel Agents Who Called Hunter Laptop Bombshell 'Disinformation'
  “Egregious”: McCarthy To Subpoena 51 Intel Agents Who Called Hunter Laptop Bombshell ‘Disinformation’

  Amid calls that he sucks and should be replaced, House Minority Leader Kevin McCarthy (R-CA) says he’ll subpoena the 51 former intelligence officials who said the New York Post‘s bombshell report on the Hunter Biden laptop had ‘all the classic earmarks of a Russian information operation.”

  

  The California Republican — who is expected to become speaker when the GOP takes control of the House of Representatives in January — said what Twitter did with The Post’s bombshell October 2020 report was “egregious.”  -NY Post

  “Those 51 intel agents that signed a letter that said the Hunter Biden information was all wrong, was Russia collusion, many of them have a security clearance,” McCarthy told Fox News on Saturday. “We’re going to bring them before a committee. I’m going to have them have a hearing​,​ bring them and subpoena them before a committee. Why did they sign it? Why did they lie to the American public?”

  McCarthy – former roommate of liberal pollster (and Hunter Biden pal) Frank Luntz – has faced strong opposition to his bid to become the next Speaker of the House, particularly from Rep. Matt Gaetz (R-FL), so you’ll understand our skepticism over his ‘vow’ to get to the bottom of the 51 former senior intelligence officials.

  Former CIA Director John Brennan and ex-National Security Council Director James Clapper were among a group of former intelligence officials who signed a statement days after the expose, claiming it “has all the classic earmarks of a Russian information operation.”  

  ​McCarthy questioned the move. “Why did you use the reputation that America was able to give to you … but use it for a political purpose and lie to the American public?” he said on Fox. 

  Republicans are preparing to launch a number of investigations into the Biden family as a result of The Post’s reporting about Hunter Biden’s overseas business relationships while his father was vice president in the Obama administration. -NY Post

  Journalist Glenn Greenwald puts the whole thing in perspective in a great Twitter thread:

  Once these CIA, NSA and DHS operatives — among them the most unscrupulous career liars and war criminals: John Brennan, James Clapper, Michael Hayden and Leon Panetta — signed onto this lie, they handed it to POLITICO’s @NatashaBertrand, now of CNN, who uncritically spread it: pic.twitter.com/59QNRRuZsk

  — Glenn Greenwald (@ggreenwald) December 11, 2022

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  The 2 worst media offenders in spreading this lie were NBC and CNN. They put one liar after the next on to say this laptop was forged and came from Russia. @RepAdamSchiff as usual, took the lead in lying. He should be removed from the Intel Comm for this:https://t.co/o6CCIhcSTm

  — Glenn Greenwald (@ggreenwald) December 11, 2022

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  So *of course* House GOP should investigate how 51 CIA/NSA/Homeland Security leaders spread this lie to media to manipulate the 2020 election. House Dems should, too!

  But, instead, Dems and their liberal followers will object, because the US Security State is their key ally.

  — Glenn Greenwald (@ggreenwald) December 11, 2022

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  One last point about @GOPLeader McCarthy. He’s vowed to remove @IlhanMN from committees. That’s cheap and easy to do for so many reasons.

  Omar is 1,000 times better than Schiff (see below). Schiff is the most destructive liar in Congress. The media reveres him. Remove *him*. pic.twitter.com/EQPNDtK3eH

  — Glenn Greenwald (@ggreenwald) December 11, 2022

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  Tyler Durden
  Sun, 12/11/2022 – 17:00

• Morgan Stanley On What Will Drive The Next Phase Of ESG Research
  Morgan Stanley On What Will Drive The Next Phase Of ESG Research

  By Stephen Byrd, Head of North American Equity Research, Power/Utilities and Clean Tech at Morgan Stanley

  Debate among investors is growing about whether to focus on stocks which are ESG ‘enablers’ with best-in-class ESG metrics, or on ‘ESG improvers’. We see merit in both approaches but believe the benefits of owning ‘ESG rate of change’ stocks and engaging with companies in transition are underappreciated. In a recent report, Morgan Stanley’s Sustainability Research team, in collaboration with industry analysts, our Quantitative Investment Strategies (QIS) team, and AlphaWise, show that focusing on names with improving ESG metrics can deliver both alpha and positive ESG impacts.

  Our work is distinctive on multiple fronts. First, in collaboration with our analysts, we developed a forward-looking framework to analyze ESG rate of change at the stock level. We think it provides a better gauge of the likely future rate of change than typical data services, which are often backward looking and/or not informed by in-depth, sector-specific analyses. In addition, our analysts focused on companies with an opportunity to improve their financial performance thanks to ESG rate of change, a key difference from typical ESG analyses.

  From a quant perspective, our QIS team assessed the impact on stock returns of ESG criteria such as carbon efficiency, exclusions driven by environmental harm, percentages of revenues linked to fossil fuels, and non-climate ESG concerns. The team found little evidence of a significant positive or negative effect on performance from screening on such broad ESG criteria. This underscores the need to marry ESG capabilities with strong sector expertise in order to generate alpha, tailoring ESG criteria and strategies to industry dynamics. We developed a robust set of sector-specific ESG rate of change criteria.

  We were surprised how often deflationary technologies are driving simultaneous improvement in both ESG and financial metrics. An usually broad range of innovations are dropping in cost so much that they offer significant net benefits on both fronts. These include solar/wind/clean hydrogen, green ammonia, precision agriculture, improved molecular plastics recycling technology, more efficient electric motors, energy storage cost reductions, ‘green steel’, more durable vehicle tires, recycling technologies, electrification of many products/industrial processes, carbon capture tech, and waste-to-energy/waste-to-plastics technologies.

  We reject a dichotomy between investing in ESG ‘enablers’ versus ‘improvers’. We would highlight a recent Morgan Stanley report on Earthshots led by Ed Stanley that identified a number of important emerging ‘enabling’ technologies – radical decarbonization accelerants or global warming mitigants. With the help of our global analysts, the team reviewed 40 promising technologies but zeroed in on six of the most game-changing. Given a growing mismatch between the pace of climate technology adoption and the planet’s need for these solutions, we believe these Earthshots are likely to be a key secular trade of the 2020s.

  

  In evaluating ‘improvers’, we reiterate the need to marry ESG investing principles and deep sector expertise. Applying ESG metrics without such knowledge can lead to suboptimal results. For example, in the US utilities sector, management teams are shutting down expensive coal-fired power plants and building renewables, energy storage, and transmission, which drives superior EPS growth. Our quantitative research team showed the superior stock returns for companies leading the way on this ‘carbon rate of change’ strategy, but many of these stocks would screen negatively on classic ESG metrics such as carbon intensity.

  Tyler Durden
  Sun, 12/11/2022 – 16:30

• Lithium-Ion Battery Prices Rise For First Time
  Lithium-Ion Battery Prices Rise For First Time

  Lithium, a mineral used in batteries to power electric vehicles, smartphones, laptops, and all sorts of gadgets, has surged to a record high this year as the world pushes forward with a ‘green’ future. But in the process of decarbonizing the global economy, battery prices, for the first time since BloombergNEF began tracking the market in 2010, have risen on an annual basis. 

  After a decade of deflation, the volume-weighted average price of lithium-ion battery packs across all industries increased to $151 per kilowatt-hour in 2022, a 7% increase from last year. BloombergNEF forecasts prices could continue rising next year. 

  

  “Never before in the 12 years BNEF has surveyed battery prices have they recorded an annual increase, instead dropping sharply as production grew,” Bloomberg said. 

  The rising costs of lithium, nickel, cobalt, aluminum, and manganese — crucial metals used in battery making have increased lithium-ion battery pack prices. 

  Just look at the Lithium Price Index — prices are out of control … 

  

  “Not until 2024, when more lithium production is expected to come online, are prices forecast to drop again,” Bloomberg explained. 

  The rise in lithium-ion battery packs could be the first red flags in the energy transition that prices to decarbonize economies will be costly. 

  “With the advent of electromobility and all this excitement about lithium, the world needs new sources,” Daniel Jimenez from consultancy iLiMarkets recently told the FT. “Whoever is producing lithium in the coming three years is going to make abnormally high margins.”

  Yet until new supply comes online, lithium-ion battery packs will rise, which has already caused EV affordability concerns. 

  Tyler Durden
  Sun, 12/11/2022 – 16:00

• The Rise And Fall Of Inflation Risk Factors
  The Rise And Fall Of Inflation Risk Factors

  By Peter Tchir of Academy Securities

  This week we will all focus on CPI on Tuesday and the Fed on Wednesday. What Chair Powell says and does on Wednesday will reverberate through the markets. For the record, I expect 50 bps and he will keep a rate hike on the table for the February 1 st announcement.

  Rather than attempting to estimate this week’s CPI data (which will be important), today’s report will focus on what will drive inflation (and the economy/markets) after the Fed decision.

  We have seven weeks between this FOMC decision and the next one. Seven weeks feels like  a lifetime in a market that is prone to large daily and weekly swings. Even the views on the economy are shifting rapidly as more economists seem to be heading in our direction, which is that the recession will start sooner (Q1) and be deeper than most people previously thought.

  If anything, the market is pricing in a Squishy Landing. That report tried to define a “squishy” landing and also tried to figure out why markets may misinterpret data as indicating a “soft” landing when the worst is yet to come. Finally, we re-iterated our more pessimistic outlook in that report.

  Inflation Factors versus Inflation

  Rather than just trying to “estimate” inflation, we examine the factors that “drive” inflation. While we could just estimate various inflation components such as rent, in this report, we will try something different. We will lay out the factors that drive inflation. We believe that these factors do a good job of predicting where inflation and the economy are headed

  In theory this is what many do, but we hope that today’s analysis makes it clear how these factors have been behaving (and how they will behave). That will go a long way in explaining why our current outlook is more pessimistic and is strongly in the camp that “the Fed has gone too far already.”

  

  We will address the individual components that go into this model. This model shows the highest inflationary pressures were from Q2 2021 to Q4 2021. It remained elevated for that extended period of time due to a variety of factors (the importance of which changed within that period). The factors have been pointing to steadily declining inflation and growth pressures ever since.

  If anything, the factors point to deflationary pressures in Q1 and Q2 next year – which is another way of reaching our conclusion that the economy and markets are in jeopardy of a large “risk-off” trade that will break 2022’s lows on stocks (while yields plummet).

  The Inflation Factors

  We will use 5 factors. The factors are somewhat broad and the influence that they have on inflation is just an estimate. Yes, inflation and the economy are closely linked. No, our model is not tested and is both arbitrary and subjective. Nonetheless, it seems logical and almost elegant. The explanation fits the narrative of what has been going on, and some version of this “model” has been influencing my thoughts on inflation, the economy, and markets. It is a good starting point for this overall discussion and what to expect in terms of economic data and corporate reporting over the next seven weeks.

  The factors that we use are:

  • The Fed. This is primarily focused on rates and the balance sheet. Lower rates are stimulative and higher rates act as a headwind. Balance sheet expansion (QE) is stimulative while balance sheet reduction (QT) is contractionary. Other “extraordinary” measures are included as well.
  • Stimulus. This includes a range of items such as checks sent to individuals, moratoriums on rent/student loans, PPP, and government spending programs like the “Inflation Reduction” Act.
  • Supply Chains. This attempts to broadly incorporate supply chain issues from the actual inability to produce goods to the costs of shipping and transporting. It is difficult to get an exact definition, but we all know it when we see it.
  • War. Russia’s invasion of Ukraine and the sanctions are also factors.
  • Disruptive. Another broad topic and not only is it extremely important, but it has been overlooked by many. It does not just include the wealth gained and lost by investors or the impact on the economy. The spending generated by “disruptive” companies (and even units of larger/more “traditional” organizations) was quite simply massive. This segment can easily include crypto as well as disruptive companies (some of which were already public or recently went public, and others largely benefitted from PE/VC investments). This may be the most contentious factor, which likely makes it the most important in terms of explaining why our outlook remains so pessimistic.

  We did not treat wage inflation as an inflation factor. This is a tricky and almost circular issue. Is wage inflation a factor? Certainly, the Fed focuses on wage inflation because it could potentially create “sticky” (or rather “non-transitory”) inflation. From that perspective, it is a factor rather than an output. However, we will treat wage inflation as another output (wage inflation will respond to the other factors, making it okay to ignore in the factor model). It is somewhat circular, which is why we highlight it.

  The Fed

  

  The Fed did everything it could in the immediate aftermath of COVID and the COVID lockdowns. They bought corporate bonds/ETFs, backstopped money markets and corporate new issuance, expanded their balance sheet, and cut rates to zero.

  Over time they pulled back on that support. By Q3 of 2022 we saw them acting as a moderate headwind. We should not just expect higher rates for now because the Fed is telegraphing higher rates into the future (while ramping up QT) as well.

  By early 2023 the Fed will be a deflationary pressure.

  That will start to reverse course as the Fed backpedals (likely smaller QT before rate cuts). In any case, on a standalone basis this might be the right policy, but given how the other factors are behaving, it may be a mistake.

  Stimulus

  

  Stimulus started slowly, ramped up, tailed off, ramped back up again, and is now in the process of declining. We’ve left it as a small positive factor for much of this year and next year.

  The bump in Q2 2021 may have been the most awkward of the inflation drivers as yet another stimulus package was passed long after there was an obvious need for it (the very nature of inflationary).

  We didn’t get a “bounce” in the factor when the so-called “Inflation Reduction Act” was passed, because it wasn’t heavily front loaded, but it is why we leave stimulus as a positive factor going forward.

  Supply Chain

  

  The supply chain issues didn’t manifest themselves right away. In Q2 2020 oil (WTI) futures briefly traded negative. Yes, there were all sorts of weird shortages and mismatches during that time. You could get rolls and rolls of industrial grade toilet paper if you could figure out where to go, but it was virtually impossible to get high quality toilet paper (I’m sure there were other initial issues, but that one sticks out).

  It was only over time as we re-opened and inventories got whittled down that supply chain issues started to mount. Add to that the fact that there weren’t enough workers at the docks to unload (let alone ship) things. Supply chain constraints were off the charts (as was the cost of shipping). However, those costs have since come down.

  There are still some supply chain issues. Shipping isn’t great, but other issues are much smaller now. Offsetting that pressure further are the inventory builds that we’ve seen across so many industries. It is still a moderately inflationary factor, but should go away by Q2

  War

  

  Russia invaded Ukraine in Q1 2022, but as troops were building up before that, we started to see some pressure on commodity prices that could be attributed to the war risk. That escalated post invasion as sanctions took hold. It abated a little in the summer on the energy front (seasonal) and as some deals were attempted on the commodity front. It has ramped back up and that will continue into Q1 of next year and then it should subside into the summer again.

  Disruptive

  

  This doesn’t exactly follow the chart of bitcoin, ARKK, or SPAC issuance, but it is probably somewhat linked. Were those just a factor of the other factors, or a factor in their own right?

  The wealth created and spent in this subset of the universe (which was unique to this period) is its own driver. It ties into my argument that jobs lost will NOT be the metric of this recession, rather it will be jobs lost multiplied by average pay that will define this recession.

  I’m hearing this from programmers, software and hardware sellers, and event planners. The wealth created and spent was enormous, concentrated, and inflationary.

  The Whole Picture

  

  This chart might be a little bit messy, but it is a useful illustration of how these various factors have worked to drive inflation.

  Thinking about these factors and when they started to turn down (and how inflation/the economy have followed) sends a somewhat chilling message if they are correct.

  We are seeing little to no inflationary (growth) pressures in the economy in Q1, yet we are behaving as though fighting inflation is still job number 1.

  Bottom Line

  Look for growth and inflation to slow, regardless of what the Fed does going forward. Inflation was driven by many factors, most of which are receding on their own.

  We have seven weeks of data after this Fed meeting and will be entering into Q4 earnings. I have little reason to be optimistic unless something about these risk factors change. It would be great to have discussions on the appropriateness of these factors and their relative importance.

  This model may have many errors, but I welcome the opportunity to discuss/refine it and hopefully it gives you some food for thought on why our inflation and growth projections are on the pessimistic side of consensus.

  Good luck on Wednesday and get ready for the next 7 weeks!

  Tyler Durden
  Sun, 12/11/2022 – 15:30

• The Twitter Files: The Corporate Media Ignores The Biggest Story Of The Decade
  The Twitter Files: The Corporate Media Ignores The Biggest Story Of The Decade

  The biggest story of the past decade is not the covid pandemic, the January 6th protests, the war in Ukraine, the BLM riots, or even the stagflationary crisis in the US.  Behind these major events is another story, one that connects them all together in a disturbing way.  Even more important than the effects of geopolitical and economic chaos is the effect of mass censorship; without the free exchange of information and debate the public remains ignorant.  And if the public remains ignorant, crisis events have an increasing potential to explode.

  Public perception of national and international affairs is a key determinant of the outcome of disasters and conflicts.  This is why governments and elitists from around the world often seek to manipulate the ways in which people digest information.  The idea is rather simple – They believe that ‘we the people’ cannot be allowed to come to our own conclusions.  They think we cannot be trusted to develop the “proper” viewpoints and we are not smart enough to understand the implications of governmental decisions.  

  In other words, they believe the exact opposite of what is outlined in the US Constitution.  The establishment will give numerous reasons why they need to censor, suppress, spin and misrepresent the facts of any given situation, but in the end the real rationale is that they have a vision for society that is contrary to our foundations.  They have appointed themselves the arbiters of reality to see that vision done.  As Edward Bernays, the “father of public relations” once stated in his book ‘Propaganda’:

  “The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. …In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons…who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

  This is pure authoritarianism.  It’s the stuff of nightmares and revolutions.  But for many years now a large subsection of the world has denied such a dynamic exists.  It’s “conspiracy theory” and “tinfoil hattery” to claim that a small number of elites work together in secret to control public perception and govern our society from the shadows.  After all, where is the proof?

  Of course, this kind of argument is a coping mechanism for the mentally deficient.  Proof of such secretive governance and control is everywhere these days, but some people prefer willful denial.  Take for example the ongoing data drops for what is now being called “The Twitter Files.”

  The mainstream media is barely responding to the information dump initiated by Elon Musk.  They seem to be far more interested in Donald Trump’s tax records.  When they are forced to acknowledge the story, they are hostile, calling the information “boring” or unimpressive.  It’s a classic psychological  tactic of typical narcissists and criminals – When they get caught, they act indifferent, as if neither the evidence nor their crimes really matter.  If getting caught doesn’t matter to them, then their crimes must not be all that bad, right?

  The content of these files is astonishing, but at the same time it is true that the conclusions are not surprising.    

  The files simply confirm almost everything conservative and libertarian commentators have been saying for years; all those “conspiracy theories” about Big Tech censorship of conservatives turned out to be true.  Not only that, but the theory that government agencies and officials from the DNC worked with Big Tech to silence and undermine their political opponents was also true.  

  

  Twitter has long denied that they “shadow ban” users, but this was a lie.  The data shows that small groups within Twitter called “strategic response teams” suppressed up to 200 accounts per day.  Usually these were accounts of larger and more influential conservative politicians and celebrities.  And, these teams operated in coordination with Democrat officials and agencies like the FBI.  In some cases the goal was to mute a particular individual. In other cases the goal was to steer national elections.   

  Internal Twitter communications show that SRT groups spent most of their time fabricating reasons why certain information was subject to TOS.  In other words, if Twitter’s rules were not being violated, they made up new rules.  

  The exposure of Twitter is the biggest story of the decade because it provides proof of a hidden cabal.  It shows the ugly mechanics behind the scenes and exposes a network of elites and their errand boys who were involved in direct operations to destroy the 1st Amendment for the sake of ideological supremacy.  

  It’s the classic definition of fascism, a definition that Benito Mussolini reiterated when he argued:  “Fascism should more properly be called corporatism because it is the merger of state and corporate power.”

  And, if this brand of Fascism was happening within the halls of Twitter, then there is little doubt it is also happening at companies like Google/YouTube, Apple, Facebook, etc.  Before we had evidence, now we have confirmation.  

  The corporate media argues over relevance instead of morality because they benefited from the censorship.  It’s important to remember that one of the first measures Big Tech companies applied after suppressing the alternative media during the pandemic was to then amplify the corporate media.  These companies are floundering with dismal audience numbers and dwindling profits.  No one listens to them anymore.  Yet, as long as they promote the establishment narrative their opinions and disinformation are given priority on nearly every search engine and social media platform.  

  Of course they aren’t interested in the Twitter Files, liars are often “bored” by honest commentary and factual information.  Also, their continued existence relies on the censorship of their competition in the alternative media.

  The bottom line is this:  According to the Bill of Rights, it is illegal for agents of the US government to obstruct the free speech of law abiding American citizens.  It does not matter if the action is done by using “private businesses” as middlemen.  And, if a private business is colluding with government to implement political policy then it is no longer a private business.  Twitter was participating in a form of treason, along with the agencies that they cooperated with.  It’s a huge story, and one that should lead to punishment for those involved.      

  Tyler Durden
  Sun, 12/11/2022 – 15:00

• Army Captain Separated From Service For Refusing Vaccine As House Passes Bill That Rescinds Military’s Vaccine Mandate
  Army Captain Separated From Service For Refusing Vaccine As House Passes Bill That Rescinds Military’s Vaccine Mandate

  Authored by J.M. Phelps via The Epoch Times (emphasis ours),

  An Army captain was separated from the service for refusing to take the COVID-19 vaccine as the GOP attempts to roll back Secretary of Defense Lloyd Austin’s military vaccine mandate.

  

  Capt. Stephen Rogerson (a pseudonym) has served in the Army for 17 years, and on Dec. 6, a three-person administrative board voted to separate him from service. On the same day, the House passed an $858 billion defense funding bill, the National Defense Authorization Act (NDAA) for the fiscal year 2023, that included a provision to rescind the military’s COVID-19 vaccine mandate.

  But soldiers like Rogerson are “falling through the cracks of a failed policy at precisely the wrong time,” according to R. Davis Younts, an Air Force Reserve Judge Advocate General (JAG) and civilian attorney.

  In October 2021, Rogerson received a temporary medical exemption through his primary care manager. Within two hours of submitting his request for exemption to the vaccine to his command, it was denied.

  “Rather than accepting my exemption, they gave it to the command surgeon who overturned it and took measures to deny it—without the authority or policy in place to do so,” he told The Epoch Times, using a pseudonym for fear of reprisals.

  “In addition to opposing the vaccine for medical concerns, I was opposed to it because it came out so quickly and there was no way possible to know its long-term side effects.” Thus, he took all necessary steps to oppose the vaccine.

  For this, Rogerson received a General Officer Memorandum of Reprimand in February, which was permanently filed into his record.

  “Those things are going to be in my record, unless there’s some sort of language requiring the military to take out the adverse actions given to soldiers who refused to take the experimental vaccine,” he said.

  “While Congress taking action is a great thing, the language isn’t clear,” Rogerson said.

  According to Younts, “The latest language in the NDAA is compromised language,” explaining that the agreement will only end the Department of Defense’s (DoD) vaccine mandate, and does not address the issue of the thousands of service members who have already been separated or who have had adverse action taken against them due to their refusal to take the vaccine.

  If the NDAA is approved by the Senate and signed into law by President Joe Biden, Austin would have 30 days to rescind the mandate.

  “I know, firsthand, the military is continuing to push the vaccine and boosters,” he said. “The Navy and Coast Guard, in particular, are putting tremendous pressure on its members.”

  Younts believes the “coercion” to get the vaccine will continue, even if the mandate is rescinded.

  He questioned whether “the DOD’s intent will be to continue to punish and kick out those individuals who violated the supposed ‘lawful order’ to get the vaccine while it was a mandate.”

  The White House said including the provision in NDAA was “a mistake.”

  “Making sure our troops are ready to defend this country and prepared to do so, that remains the President’s priority, and the vaccine requirement for COVID does just that,” John Kirby, National Security Council coordinator for strategic communications, said during a press briefing on Dec. 7.

  A Whole New Fight

  Service members in the Air Force, Marines, and Navy are currently protected by a preliminary injunction that prohibits the respective services from taking adverse actions against the unvaccinated. Meanwhile, the Army and Coast Guard are subject to such restrictions.

  “Without a change in the policy, soldiers could still be punished with travel restrictions, other measures to prevent training and education, and more,” Rogerson said. He expects “restrictive measures to remain in place, depending on how the DoD treats the guidance that comes down from Congress.”

  To that end, Younts said, “There are still a lot of people in the Army and Coast Guard that have a letter of reprimand in their file for refusing the vaccine.” Many have not been promoted, have been restricted from travel, and have had other actions taken against them, he said.

  “Because of this, the military’s position could be that [service members] violated the initial order when it was a mandate, and they’re still going to move to kick them out.”

  Rescinding the vaccine mandate via the NDAA is “a small step,” Younts said. “What’s going to force the DoD and Secretary of Defense Lloyd Austin to change their policy and not punish or retaliate against those who are in a refuser status, but their cases still haven’t been processed to completion yet?”

  Furthermore, the language of the NDAA does not reinstate thousands of military members who have already been separated from the service. “Congress has not required the DoD to address any of these issues,” Younts pointed out.

  “All it says is that as the NDAA goes into effect, the mandate doesn’t exist anymore,” Younts explained. “Unless there’s more court action or another intervention,” he said, “the DoD is still going to consider the previous vaccine mandate a valid order, and those who refused that order, they’re going to continue to be punished.”

  Younts is also concerned about the current injunctions in place for the Air Force, Marines, and Navy.

  “For example, if the Air Force case goes to trial next year and we lose, a whole bunch of these people already have a letter of reprimand in their record or have had other adverse action taken against them,” he said. And because of this, “The Air Force could still punch them and kick them out for disobeying a so-called lawful order,” the attorney added.

  Read more here…

  Tyler Durden
  Sun, 12/11/2022 – 14:30

• Bond Investors Switch From Mutual Funds To ETFs At Record Clip
  Bond Investors Switch From Mutual Funds To ETFs At Record Clip

  The worst year for bonds since at least 1975 has prompted plenty of investors to abandon the asset class. However, of those who are sticking around, a great number are swapping from mutual funds to exchange-traded funds (ETFs) in execution of loss-harvesting tax strategies. 

  Amid this mass wave of so-called “wrapper-swapping” — reallocating from a mutual fund to an ETF in the same broad asset class — ETFs now comprise a record-high 21% of bond fund assets, according to a new report from The Wall Street Journal. That’s around double the share ETFs had six years ago.  

  

  The bond market beatdown has “set off the acceleration of wrapper-swapping that we have seen in equities for a while,” ETF strategist Todd Sohn of Strategas tells the Journal . “Now we’re finally getting it in bonds.”

  Many investors have been stunned by bond funds’ failure to buffer portfolio returns in a rough year for equities. While the S&P 500 is down 17%, Bloomberg’s aggregate U.S. bond index is off 11%. 

  Bond mutual funds have seen net redemptions of a whopping $454 billion this year, but bond ETFs have drawn a net $157 billion — by far a record swap. 

  

  As investors wrapper-swap, many are shifting their bond allocation to emphasize U.S. Treasury debt, jettisoning stakes in riskier bond asset classes as worries over the country’s economic health mount. Almost 60% of bond inflows at iShares have gone into Treasury funds. 

  Taxes are a big driver of the trend. By redeeming losing bond positions held outside of 401(k)s, IRA and other tax-sheltered accounts, investors can realize capital losses and improve the bottom line on their upcoming 2022 tax filings. 

  Before you swap wrappers, beware of IRS “wash sale” rules, which disallow the recognition of capital losses if the investor replaces it with a “substantially identical” investment during a window that extends from 30 days before the sale through 30 days after.

  Caution is required even when swapping from a mutual fund to an ETF — as there are no clear IRS rules on what constitutes “substantially identical.” 

  The more your choice of ETF differs from the mutual fund you sold, the better your chance of passing IRS muster. For example, selling Vanguard Total Bond Market Index Fund and swapping into the Vanguard Total Bond Market ETF within 30 days is almost certainly asking for trouble — as Biden recruits his legions of 87,000 new IRS employees.

  Tyler Durden
  Sun, 12/11/2022 – 14:00

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