Today’s News 12th February 2023

• Censorship Operations: COVID, War, And More…
  Censorship Operations: COVID, War, And More…

  Authored by William Spruance via The Brownstone Institute,

  Wednesday, Congress held a hearing on Twitter’s censorship of The New York Post and its coverage of Hunter Biden’s laptop. While House Republicans focused on issues like shadowbanning and government collusion with Big Tech, Rep. Jamie Raskin and other Democrats advocated for increased censorship from Silicon Valley companies.  

  

  Raskin argued that the committee would be better served focusing on “the real threats of massive Russian disinformation and white nationalist violent incitement on social media.” 

  Like the Biden Administration’s usurpation of the First Amendment, Raskin’s cohort’s goal is censorship and the accompanying augmentation of state power, not challenging the veracity of opponents’ arguments or claims.

  In “Shouting Covid in a Crowded Theater,” I discuss how officials in the Biden Administration use wartime rhetorical strategies to slander dissidents. In doing so, they conflate dissent with threats to public safety to censor critics. 

  When discussing public health, the regime consistently uses labels of “misinformation” and “disinformation.” But the more we learn about government operations, the more it appears that these labels are references to inconvenience, not falsity. 

  This strategy extends beyond the country’s COVID response. 

  Wednesday morning, Seymour Hersh published “How America Took Out The Nord Stream Pipeline.” 

  The Nord Stream 1 and 2 Pipelines exploded in September 2022. The Nord Stream 1 has delivered natural gas from Russia to Europe for over a decade, and Russia was developing the Nord Stream 2 at the time. Outlets like The New York Times called the explosions “a mystery.” 

  The sabotage presented a major energy crisis for the United States’ European allies. Europe imports nearly 40% of its gas from Russia, and the Nord Stream 1 was responsible for delivering approximately one third of that supply. 

  Now, Hersh reports that “the United States executed a covert sea operation” with Navy divers to sabotage Russia’s pipelines with explosives. 

  For a less obsequious press corps, this should have been an easy story to crack. 

  In the weeks leading up to Russia’s invasion of Ukraine in 2022, President Biden announced his intention to act against the pipelines in the event of war. 

  “If Russia invades… there will be no longer a Nord Stream 2,” he told reporters. “We will bring an end to it.” 

  “How will you do that exactly?” a reporter asked. 

  “I promise you we will be able to do it,” President Biden said with a slight smile. 

  Under Secretary of State for Political Affairs Victoria Nuland was equally as explicit. 

  “I want to be very clear to you today,” she told reporters in January 2022.

  “If Russia invades Ukraine, one way or another Nord Stream 2 will not move forward.” 

  In September, Russian President Vladimir Putin blamed “Anglo-Saxons” in the West for “terror attacks” on the pipelines. “Those who profit from it have done it,” Putin told the press.

  President Biden chastised Putin’s accusation for “pumping out disinformation and lies.” 

  “Just don’t listen to what Putin’s saying,” Biden added.

  “What he’s saying we know is not true.”

  White House National Security spokeswoman Adrienne Watson backed up Biden’s claim, referring to Putin’s accusation as “Russia’s disinformation.” 

  Russia’s U.N. ambassador also implied that the United States had been involved in the sabotage. Richard Mills, U.S. deputy ambassador to the U.N., responded by calling the claims “conspiracy theories and disinformation.”

  Despite the Commander and Chief’s explicit announcement that he would take action against the Nord Stream pipeline, a credulous press corps has dutifully parotted government talking points that accusations of western involvement in the sabotage are “baseless” “misinformation,” “disinformation,” and “conspiracy theories.” 

  This all follows a similar pattern to the informational warfare of the Covid era: an inconvenient narrative arises, the government and lemmings in the media slander it as false and dangerous, and, months later, the dispute in question turns out to be true (or at least highly plausible). 

  Arguments over natural immunity, vaccine efficacy, masks, the lab leak hypothesis, school shutdowns, lockdowns, and the scientific basis of social distancing are just a few examples that followed this cycle of reporting. 

  This was the same pattern as The New York Post’s coverage of the Hunter Biden laptop. Now, at hearings to investigate corruption that implicated Big Tech, intelligence officials, and the federal government, Raskin and his cohorts return to their familiar censorship ploys. 

  For censors, augmentation of power, not truth, remains the chief objective. To achieve this goal, they conflate dissent with domestic terrorism.

  For example, the Department of Homeland Security’s “National Terrorism Advisory Service” listed misinformation and disinformation as terrorism threats in February 2022. The memo identified these threats as efforts to “undermine public trust in government.” 

  Regarding both Covid and Ukraine, the most powerful forces in the country have repeatedly lied and misled the American public. They censor critics to protect their delicate narratives of fiction, and they attack others for the public’s waning trust in government. 

  Hersh’s article pierces through the hegemonic narrative; hopefully, exposing their lies and warmongering will disrupt their ploys for censorship and power. 

  Tyler Durden
  Sat, 02/11/2023 – 23:55

• Japan's Government Adopts Nuclear Energy Policy In Major Turnaround Amid Energy Crisis
  Japan’s Government Adopts Nuclear Energy Policy In Major Turnaround Amid Energy Crisis

  Authored by Aldgra Fredly via The Epoch Times,

  Japan’s government on Feb. 10 adopted a policy seeking to maximize the use of nuclear power in a bid to stabilize the country’s energy supply amid soaring energy costs fueled by the prolonged war in Ukraine.

  

  The new policy marks a major turnaround from Japan’s previous policy of reducing its reliance on nuclear energy and shutting down most of its nuclear reactors in the aftermath of the 2011 Fukushima disaster.

  Under the new policy, the government will set up a final disposal site for the proper disposal of radioactive waste generated during nuclear energy production. It also calls for the development of advanced reactors.

  In addition, it will allow extending the lifespans of nuclear reactors beyond the current maximum of 60 years and replacing aging nuclear reactors with new ones to ensure a stable power supply.

  The government also aims to issue green transformation bonds to raise 20 trillion yen ($15.789 billion) to procure funds for decarbonization projects, Kyodo News reported.

  The plan includes a target of raising about 150 trillion won ($118.35 billion) in public and private investments over the next 10 years for such projects.

  Japan had only allowed 10 of the 33 operable nuclear reactors to restart after the Fukushima nuclear disaster. But rising energy prices, along with Russia’s invasion of Ukraine, and power outages during the summer and winter pushed the government to revive some nuclear plants.

  The stark policy turnaround comes after Prime Minister Fumio Kishida said in August last year that Japan would look at developing next-generation reactors and ordered the industry ministry to set up a policy plan to widen the use of nuclear energy.

  “In order to overcome our imminent crisis of a power supply crunch, we must take our utmost steps to mobilize all possible policies in the coming years and prepare for any emergency,” Kishida said.

  On June 27, 2022, the government issued a warning about the tight power supply as Japan endured an extreme heat wave. It also issued an energy warning in March 2022 due to cold weather and power plant outages caused by an earthquake near Fukushima Prefecture.

  South Korea’s Nuclear Energy Plan

  Governments across Europe and Asia are also extending the life of their aging nuclear fleets, restarting reactors, and dusting off plans to resume projects shelved after the Fukushima disaster.

  

  South Korea’s nuclear power reactor under construction at the time—Shin-Kori 3 and 4 called APR-1400—in Gori near the southern port of Busan, on Feb. 5, 2013. (Jun Yeon-Je/AFP via Getty Images)

  South Korean President Yoon Suk-yeol has reversed the previous administration’s plan to phase out nuclear energy and pledged to boost investment in the industry and revive its status as a key exporter of safe reactors.

  “If the people who were pushing the nuclear phaseout had actually seen the industrial ecosystem for themselves, I doubt they could have made that decision,” he was quoted as saying by local outlet Hankyoreh.

  The government said on July 5, 2022, that it will restart construction on two nuclear reactors at the Shin-Hanul nuclear plant, which had been stalled since 2017 under the previous administration, and continue to operate nuclear energy facilities that are already running.

  Restarting construction reactors and exporting nuclear power are part of the South Korean Energy Ministry’s plan to achieve the nation’s policy goals of ensuring energy security and attaining “carbon-neutral goals” amid global energy supply chain pressures.

  Yoon’s administration also plans to increase the contribution of nuclear power in the country’s energy mix to 30 percent or more by 2030.

  Nuclear power currently makes up roughly 27 percent of the country’s energy mix. According to the World Nuclear Association, South Korea currently has 25 nuclear reactors in operation. It also constructed four nuclear reactors in Barakah, the United Arab Emirates.

  Tyler Durden
  Sat, 02/11/2023 – 22:45

• Biden Administration Ready To Unleash A $27 Billion Green Slush Fund
  Biden Administration Ready To Unleash A $27 Billion Green Slush Fund

  Authored by Mike Shedlock via MishTalk.com,

  Biden slush fund money is now looking for a home. A battle is on over who gets to waste it…

  

  Biden’s $27 Billion Clean Energy Catalyzer Slush Fund

  Competition is stiff over who gets first access to Biden’s $27 Billion Clean Energy Catalyzer slush fund.

  The US government is getting ready to unleash $27 billion to fund projects in disadvantaged communities that cut greenhouse gas emissions and boost clean energy. The cash infusion from last year’s sweeping climate and tax law is meant to drive the deployment of solar panels, heat pumps and electric vehicles in underserved places around the nation.

  But even before the government formally seeks funding applications, hundreds of potential recipients are jockeying for the money. The competition pits credit unions and community development institutions against a national not-for-profit organization that says it should collect much of the haul and be a clearinghouse for the taxpayer dollars, making it the first-ever US-government-minted green bank. 

  At stake is the fate of an unprecedented effort by the US government to fight climate pollution and environmental injustice at the same time. 

  States and tribes are set to get $7 billion. The remaining $20 billion is available for “eligible” nonprofits to provide financial assistance to national, regional, state and local projects, with at least 40% of the funding put to work in low-income and disadvantaged communities.

  The law offers little guidance on who those eligible recipients might be. 

  The Coalition for Green Capital, a nonprofit that supports regional green banks, argues it should be the main repository for the $20 billion, making it a nationwide clearinghouse for the funding. 

  The money “will not reach low-income and disadvantaged communities unless funding is provided to financial institutions with specialized expertise in serving them,” said the Rural Community Assistance Corporation, which supports organizations serving low-income people living in the rural West.

  Environmental Justice Now

  This “green bank” meme is so much BS I hardly know where to begin. 

  At least half of this money is sure to go to obviously absurd boondoggles. Most of the rest will be wasted in ordinary graft. 

  We don’t know who the recipients are yet, but fancy names are sure to help. 

  I have come up with perhaps the perfect name for a company competing for slush money: Green Solutions Trust Fund 

  In practice, it will not be green. It certainly will not solve anything. And if there is any trust, it will be seriously misplaced

  *  *  *

  Please Subscribe to MishTalk Email Alerts.

  Tyler Durden
  Sat, 02/11/2023 – 22:10

• Rep. Chip Roy To Roll Out Bill Aimed At Cutting Manufacturing Reliance On China
  Rep. Chip Roy To Roll Out Bill Aimed At Cutting Manufacturing Reliance On China

  Authored by Eva Fu via The Epoch Times (emphasis ours),

  A group of Republicans led by Rep. Chip Roy (R-Texas) is set to introduce a bill aimed at bringing manufacturing back to the United States and restoring economic independence from China.

  

  Despite rising political tensions between the world’s top two economic powers, U.S. trade with China has steadily grown, setting a new record last year.

  At $690.6 billion, according to official U.S. data released on Feb. 9, the level of bilateral goods trade between the countries was a demonstration of how commercially intertwined the countries are, though unfair trade practices from Beijing have for years been an eyesore for the United States.

  The Texas lawmaker said he wants to change that by proposing what he dubbed the “BEAT CHINA Act.” By modifying the tax code, the lawmaker aims to give tax advantages to manufacturers moving to the United States from abroad, cutting down U.S. overdependence on China, the global manufacturing hub that in 2021 made up nearly a third of the world’s manufacturing output in 2021.

  “The Chinese Communist Party is the single greatest foreign threat to U.S. national security,” Roy told The Epoch Times ahead of the legislation’s release. “As long as we depend on China and the rest of the world to keep our shelves stocked, our economic prosperity, our political liberty, and our national security are all in grave danger.”

  In 2020, the supply chain disruptions resulting from the COVID-19 pandemic put the world’s economic dependence on China under the spotlight. China’s dominance in the global production of medical supplies amplified shortages in the United States and around the world, prompting many experts to call it a “national security risk.” Since then, the severe lockdowns in China under the regime’s now-abandoned zero-tolerance virus policy frequently brought production to a standstill, intensifying supply chain woes for companies that source some of their components from China, such as Microsoft and Apple.

  Read more here…

  Tyler Durden
  Sat, 02/11/2023 – 21:35

• Scientists Fear Impending 'Environmental Nuclear Bomb' From Drying Great Salt Lake
  Scientists Fear Impending ‘Environmental Nuclear Bomb’ From Drying Great Salt Lake

  Utah’s Great Salt Lake is facing unprecedented danger. Without a significant increase in water flow over the next several years, the lake might turn into dust. That’s where things could get dangerous for the 2.5 million residents around the lake. 

  Recall we’ve already informed readers that declining water levels in the Great Salt Lake have created new challenges as dust laden with toxic metals threaten the region. It’s just now the worsening megadrought in the western half of the US has brought forward what some folks refer to as an impending ‘environmental nuclear bomb.’ 

  

  In recent months, the lake level dropped to a historic low, exposing 800 square miles of lakebed that contain natural and artificial toxins, such as arsenic, mercury, and selenium.

  

  As the drought situation deteriorates, the lakebed turns to dust and is whipped up into the air, which is ingested by the millions of residents surrounding it. Scientists told CNN the lake could evaporate within five years and trigger a “Great Toxic Dustbowl.” 

  “This is an ecological disaster that will become a human health disaster,” warned Bonnie Baxter, director of the Great Salt Lake Institute at Westminster College in Salt Lake City, Utah. 

  “We know about dust storms, we know about particulate pollution, we know about heavy metals and how they’re bad for humans,” Baxter told CNN. “We see a crisis that is imminent.”

  Here are the latest images showing the Great Salt Lake water levels in 1987 on the left and 2022 on the right. 

  

  Most alarming, if water inflows aren’t increased naturally or artificially, then the air surrounding Salt Lake City will eventually turn poisonous. That development could severely impact the local economy. Let’s hope that doesn’t happen. 

  Tyler Durden
  Sat, 02/11/2023 – 21:00

• Shanghai Container Index Falls Into Triple Digits
  Shanghai Container Index Falls Into Triple Digits

  By Gautham Krishnan of Container News

  The Shanghai Containerized Freight Index (SCFI) issued after Chinese New Year 2023 saw the index fall into the triple digits, closing at US$995 for the week ending 10 February 2023.

  

  This was a level last annexed in January 2020, the opening days of the pandemic phase. However, that wasn’t a first. These levels were seen in 2012, 2015 and 2017, indicating that the spot rates at least have now hit pre-pandemic levels.

  The manufacturing struggle in China is still imminent as the latest figures for February suggest that the factory gates prices for Jan 2023 in China are still lower, hinting that the green shoots that were seen in early Jan 2023 owing to the relaxation of the Chinese Zero-Covid policy may have been a possible one-off.

  Even as inflation in Europe sees recovery from the trough at the end of the third quarter of 2022, growth estimates in the global set-up for 2023, remain muted and hawkish. Add to that the scenario of the shipping world as 2023 stepped in 2022 January saw some of the highest congestions, while 40 days into 2023 seldom saw ports reporting 10+ waiting days, barring some, say the Baltimore port in the United States.

  A string of new container ships will see joining the existing fleet in 2023, with the total growing by about 10% by the year’s end, should the delivery timelines remain intact. The fleet growth will be a little over a fourth of the existing fleet capacity, if one were to also account for the possible scrapping of older vessels, by 2027, given the robust order book activity across the yards.

  The world’s largest vessel operator, MSC has a size of about 39% of the existing fleet capacity in various stages of a new building. All these could look to tame inflation in the medium term, but also put resistance on prices, indicating that while we aren’t sure of the extent of the fall coming, there could be upside resistance.

  According to Chris Bryant, a Bloomberg οpinion columnist, Maersk foresees global container demand for the year to fall by 2.5%. It is also foreseeing the contract rates to fall and settle in line with the spot market. (It must already be seen that the long-term rates on Xeneta took a 13% dive, the previous month to register the fifth straight month of consecutive losses.) This could be a big hit in terms of the overall yield.

  Rightly so, even the guidance numbers for the logistics giant stipulate the same. Its operating profit numbers for 2023 are seen somewhere between US$2-5 Billion for 2023, just about 6-15% of its 2022 numbers at US$31 billion. In fact, they are just a tad better than the 2019 numbers of US$1.7 billion.

  On the flip side though, the rate of falls has come down significantly, at least on trade lanes which have borne the bigger brunt. The sharper falls in recent weeks have been attributed to the China-US East Coast and the Transatlantic trade.

  While the former didn’t correct much in line with the China-Europe and China-USWC trade, thanks to the shift in cargo lanes from US West Coast to East Coast owing to port waiting times, the latter hit a high in terms of rates in the fourth quarter of 2022.

  We also saw the Chinese Containerized Freight Index (CCFI), the cousin of the SCFI, pulling up a weekly gain post the Chinese New Year thanks to rates across China-Japan, China-South America and the Mediterranean & Persian Sea trade. Intelligent contracting measures and batching seem to be what the shippers should look out for in the near-term while also cautiously approaching the rate movements.

  Tyler Durden
  Sat, 02/11/2023 – 20:25

• Decoding Google's AI Ambitions (And Anxiety)
  Decoding Google’s AI Ambitions (And Anxiety)

  Anyone who’s experimented with ChatGPT can get a sense of the potential of generative AI – even in the technology’s earliest stages.

  As Visual Capitalist’s Nick Routley details below, the hype around AI was rising throughout 2022, and has reached a fever pitch today.

  

  We’ve seen hype cycles swell around specific technologies before. Blockchain, Metaverse, NFTs, the list goes on. It remains to be seen what tangible value is created after the heat dies down, but in the meantime, some of the world’s biggest companies are taking it very seriously.

  Google—which internally reoriented itself around AI years ago—is at the forefront of this movement, so the recent letter published by Google CEO Sundar Pichai is consequential.

  

  After all, billions of people use Google Search to learn about the world, and Alphabet is one of the world’s most valuable, powerful tech companies. But before we “read between the lines” of the letter, it’s worth revisiting the larger context that this letter addresses.

  OpenAI Has Entered The Chat

  Artificial intelligence has been chalking up a number of wins in recent months, but it was DALL-E Mini and ChatGPT that really allowed generative AI to burst into the public consciousness. In fact, ChatGPT became so popular in a short amount of time, that Google declared an internal “code red” to address the issue. Leaders at Google were well aware of the disruptive power of conversational AI because they were already testing their own models internally.

  Microsoft recognized the potential as well, and invested $10 billion in OpenAI, which runs ChatGPT as well as a number of other publicly-accessible AI tools. Microsoft’s intention was to bring the magic of ChatGPT over to their Bing search engine—and perhaps steal market share away from Google.

  This sets the stage for what we’re seeing today. Essentially every big tech firm is singing AI’s praises, and Microsoft and Google appear to be entering into an AI race.

  The AI Race is Heating Up

  If there were any questions about how seriously Google was taking Microsoft’s new partnership with OpenAI, recent messaging should remove all doubt. The letter above, by Sundar Pichai speaks volumes while never straying far from official talking points. First, here is the high-level messaging in Pichai’s letter:

  • Google has already been in the AI game for years now

  • Bard is going to make Google search more ChatGPT-like

  • Google is only late to the party because they’ve been careful

  On this last point: a message from the CEO, which reaffirms the company’s commitment to AI would normally coincide with a product launch, not one that will be released to the public “in the coming weeks”. This messaging highlights a key barrier that Google is facing. Fearing the “reputational damage” that could come from rolling products out prematurely, the company has been forced to move slower than the market now expects.

  Google has already endured a painful misstep after reporters discovered an incorrect answer in a promotional video touting the conversational AI service, Bard. This simple mistake cost Alphabet $100 billion in market value—demonstrating how high the stakes are now that Big Tech’s AI progress is under the microscope.

  The timing of this letter is also very telling. The letter was published the day before Bing rolled out new AI-enabled features to the public.

  Let the jockeying for position begin.

  Nobody Wants to be Left Behind

  Google and Microsoft may be the biggest players battling it out in the AI space, but there are indicators all over that AI represents a massive technological shift that will impact a number of industries. From Fiverr’s “Open Letter to AI” to Baidu’s recent AI chatbot announcement, it seems that every day brings fresh news that fuels AI hype.

  One thing’s for sure: AI will be integrated into digital tools in more noticeable ways. And for better or worse, we’ll all be participating the experiment.

  Tyler Durden
  Sat, 02/11/2023 – 19:50

• Ugliness Awaits Many Boomers Nearing Retirement
  Ugliness Awaits Many Boomers Nearing Retirement

  Authored by Bruce Wilds via Advancing Time blog,

  Ugliness awaits most boomers nearing retirement, not only have they been lied to, but they also have to deal with rigged markets, corruption, and incompetent advisors. Boomers make up the second-largest generation in American history, it consists of over 72 million individuals. Those that haven’t already retired are getting ready to. A big problem is most have little in the way of savings.

  

  Adding to this problem is that the generations following the baby boomer generation are even worse off and America’s economic picture is less than rosy. It does not help that Americans have been encouraged over the years to spend and incur debt rather than save. This encouragement comes from politicians hooked on the idea consumer spending creates a strong economy. 

  This results in many people retiring with little savings and dependent on a government already deep in debt to care for them in their older years. Those of us that have studied the numbers come to shaking our heads in horror, simply put, something has to give and most likely promises will be broken, When words like unsustainable and insolvent have been muttered they simply get brushed aside by daily life.

  For years those in power have hidden and sheltered Americans from the harsh truth that the numbers simply do not work but history shows politicians would rather kick the can down the road than deal with reality. To the many people that have been looking forward to a comfortable and leisurely life in their older years. The fact that things could be worse is not something that will cause most retirees to leap with joy.

  An example of what we face is evident in healthcare. this is a sector of the economy that Washington has pledged to fix and even claimed it has. The chart put out by Statista shows the U.S. has the most expensive healthcare system in the world.

  

  You will find more infographics at Statista

  This matters if you consider it as a tax on the American people and realize that healthcare is a major expense for people as they age. This hits medicare directly in the heart meaning as cost soar for the program something will have to be done. That something generally comes in the form of cutting benefits and charging recipients more.

  While there is more to life than money, few people choose to live in poverty. Unfortunately, even most Americans that have saved over their lifetime and done the right thing are in peril.

  Over the years, the Fed has inflated the money supply and in doing so it also inflated asset prices, including stocks, bonds, and real estate. Much of this is the result of ballooning debt. Make no mistake about it, the government has fed at the debt trough and it has made our future less promising. Yes, we are roughly 33 trillion in debt, not counting the unfunded liabilities of social security, medicare, and Medicaid.

  

  While This Is An older Chart, Little Has Changed. Reality Is Not Pretty

  With the current trajectory of economic policies and inflation running above the return savers can earn from safe investments things will only get worse for retirees and those close to retirement age. Considering the amount of debt already amassed, the government is going to have a difficult time putting together generous new aid packages to come to the aid of those dependent upon its programs. This will result in conflict as both the young and the old are forced to fight over the few scraps it can provide.

  All this has created a situation where if the money supply now contracts a huge number of defaults will occur and both businesses and investors will incur big losses. This threat to 401Ks and pension plans is real and would make many boomers collateral damage in any effort they make to correct the mess they have created. Those in or nearing retirement should make an extra effort to reduce risk and keep their savings safe.

  Tyler Durden
  Sat, 02/11/2023 – 19:15

• Super-Sized Bets For Football's Big Game (2013-2022)
  Super-Sized Bets For Football’s Big Game (2013-2022)

  With 99 million viewers in 2022, “more Americans tune in to the Super Bowl than any other television broadcast.” Its large viewership, combined with expanding legislation, has led to ballooning wagers.

  As Visual Capitalist’s Jenna Ross shows in this graphic sponsored by Roundhill Investments, we show how these bets have grown over the last 10 years.

  

  Annual Legal Bets on the Big Game

  From 2013 through 2018, sports betting was only legal in Nevada and year-over-year growth was low. However, when the federal sports betting ban was lifted in May 2018, more states started allowing bets.

  By 2022, 33 states plus Washington, DC were legally able to bet on the game. Wagers climbed quickly as a result.

  

   

  Data only for states that report bets on football’s big game, see graphic for full list of states included in 2022.

  Impressively, legal bets surpassed the $1 billion mark in 2022. Growth was primarily driven by New York State legalizing online sports betting, with the state contributing nearly $500 million to the total.

  Since the New York State Gaming Commission does not report event-specific totals, we have estimated this amount based on sports bets made the week leading up to and including the date of the big game.

  Investment Exposure to an Emerging Industry

  Due to legalization, bets on football’s big game have grown 10 times larger over the last decade. A further shift away from bookies and toward legal operators appears to be likely. In September 2022, 89% of Americans said it was important to bet with a legal operator this NFL season, up from 76% in February 2022.

  For legal operators, this could translate into revenue opportunities. Companies that take legal bets reported more than $62 million in revenue from the big game alone in 2022, a 37% jump from the prior year.

  Looking for exposure to the growing sports betting industry? Explore Roundhill’s sports betting ETF, $BETZ.

  Tyler Durden
  Sat, 02/11/2023 – 18:40

• Third High-Altitude Airborne Object Shot Down By US Fighter Jet
  Third High-Altitude Airborne Object Shot Down By US Fighter Jet

  One day after the US shot down a ‘cylindrical, silverish gray’ object in the northeast arctic region of Alaska, another unidentified airborne object was shot down by the US military over northern Canada on Saturday – making it the third time in just over a week that jets were deployed to neutralize foreign craft.

  

  The North American Aerospace Defense Command said earlier on Saturday that it had identified the high-altitude object, after which Canadian and US craft were scrambled, and a US F-22 filter jet took it down over the Yukon, according to a tweet by Prime Minister Justin Trudeau, Bloomberg reports.

  I ordered the take down of an unidentified object that violated Canadian airspace. @NORADCommand shot down the object over the Yukon. Canadian and U.S. aircraft were scrambled, and a U.S. F-22 successfully fired at the object.

  — Justin Trudeau (@JustinTrudeau) February 11, 2023

  The object was shot down with an AIM 9X missile, the same type used to shoot down the Chinese spy balloon last week, according to the Pentagon.

  https://platform.twitter.com/widgets.jsCanadian forces will recover and analyze the wreckage, Trudeau also said on Saturday, adding that he spoke with US President Joe Biden.

  The latest incident comes after the recent incursion of a Chinese balloon over US and Canadian territory that shone a spotlight on Beijing’s alleged surveillance programs and sparked a diplomatic standoff between the world superpowers. The US also downed another unidentified object in Alaska Friday near the Canadian border. 

  …

  It’s unclear what the latest object is and where it originated. But the US has accused China of a years-long surveillance program in which it deployed spy balloons across the globe, a claim rejected by Beijing. 

  On Friday, US officials shot down a craft that was ‘roughly the size of a car,’ and smaller than the Chinese spy balloon which was shot down last Saturday. It was similarly taken out by a US F-22. NORAD and US Northern Command said that the US military was conducting recovery operations on Friday’s object near Deadhorse, Alaska. Meanwhile, Northern Command said that the FBI was taking custody of debris from last Sunday’s Chinese balloon.

  Also on Friday, the Biden administration put six Chinese groups suspected of connections to China’s spy balloon program on the “entity list,” effectively barring them from providing China with US technology.

  Tyler Durden
  Sat, 02/11/2023 – 18:15

• FTX Lawyers Escalate Threats To Politicians: Return Donations Or Be Sued
  FTX Lawyers Escalate Threats To Politicians: Return Donations Or Be Sued

  Authored by Kevin Stocklin via The Epoch Times,

  FTX bankruptcy attorneys sent out private letters last week to politicians and PACs who received donations from the company, giving them until Feb. 28 to return the money voluntarily or face legal action.

  

  According to a company statement, “to the extent such payments are not returned voluntarily, the FTX Debtors reserve the right to commence actions before the Bankruptcy Court to require the return of such payments, with interest accruing from the date any action is commenced.”

  Based on data from the Federal Elections Commission (FEC), Coindesk, a cryptocurrency news site, identified 196 U.S. senators and representatives who accepted FTX donations. Meanwhile, Unusual Whales, a retail trading platform, compiled their own tally of political recipients of FTX money, who donated to whom, and whether or not the money was returned.

  

  Largest donations by Sam Bankman-Fried to Democratic PACs (blue), GOP PACs (red), and Independent PACs (purple); data compiled by Unusual Whales. (UnusualWhales.com / Federal Election Commission)

  Legal experts say it would probably be wise for the politicians to comply with FTX attorneys’ request before things go to court.

  “John Ray [CEO of FTX in bankruptcy] and his team will likely pursue fraudulent transfer litigation against politicians and PACs if they do not return the funds, as FTX has repeatedly requested,” Thad Wilson, a partner and bankruptcy expert at King & Spalding, told The Epoch Times. Even though politicians may have a legal defense, he said, going to court would be expensive, and those who received only a few thousand dollars “would probably be better off returning the money. For larger recipients, like PACs and parties, the economics may look very different.”

  

  Donations by Bankman-Fried to candidate PACS, Democrats (blue), and Republicans (red). (UnusualWhales.com / Federal Election Commission)

  Wilson cited the precedent of Craig Berkman, a financier charged by the SEC with defrauding investors, who had donated to the presidential campaigns of John McCain, Mitt Romney, Mike Huckabee, and Rudy Giuliani in 2007–2008.

  “After Berkman filed for bankruptcy in 2009, many of the campaigns and candidates who received funds from Berkman were sued and/or returned the funds to Berkman’s bankruptcy trustee,” Wilson said.

  Collapse of FTX

  FTX Founder Sam Bankman-Fried, together with other top FTX executives, lavished more than $70 million on politicians and political organizations leading up to the 2022 midterm elections, making FTX the third-largest political donor and Bankman-Fried the second-largest donor to the Democratic Party after George Soros.

  According to data collected by the Committee to Unleash Prosperity, led by economist Stephen Moore, Bankman-Fried himself gave $40 million, mostly to Democratic candidates. His co-CEO, Ryan Salame, reportedly gave more than $20 million to Republicans and conservative groups. And FTX engineering director Nishad Singh reportedly gave nearly $13 million to Democrats and left-wing causes.

  Bankman-Fried was arrested for securities fraud in December, following the collapse of FTX, his Bahamas-based cryptocurrency exchange, and Alameda Research, his crypto hedge fund. He was subsequently extradited to the United States to face criminal charges that included securities fraud, wire fraud, money laundering, and campaign finance violations. He was quickly released on a $250 million bond and is residing at his parents’ home in California, which was put up as collateral for the bond.

  ‘Timing of the Charges’

  Currently, the House Financial Services Committee is itself investigating the FTX investigation. Committee Chairman Patrick McHenry (R-N.C.) and Oversight and Investigations Subcommittee Chairman Bill Huizenga (R- Mich.) issued a letter on Feb. 10 to SEC Chairman Gary Gensler demanding to know why Bankman-Fried was arrested just prior to his scheduled testimony before the House of Representatives on Dec. 13 and instructing him to preserve all records between the SEC and the Justice Department in connection with Bankman-Fried’s arrest.

  “The timing of the charges and his arrest raise serious questions about the SEC’s process and cooperation with the Department of Justice,” the letter states. It was assumed that Bankman-Fried would be questioned at this hearing regarding, among other things, his political ties and donations.

  At the height of his fame, Bankman-Fried was hailed as a financial genius and selfless philanthropist, worth $16 billion at one point, who vowed to give all his wealth away to progressive causes like saving the environment and preventing pandemics. He was also a strong supporter of a bipartisan bill to regulate the crypto market known as the Digital Commodities Consumer Protection Act.

  This bill was sponsored by Sens. Debbie Stabenow (D-Mich.), John Boozman (R-Ark.), Cory Booker (D-N.J.), and John Thune (R-S.D.), all of whom received at least $5,800 in political donations from Bankman-Fried. Stabenow was the top recipient of individual donations to lawmakers, having received more than $25,000.

  Among the largest overall recipients was President Joe Biden’s 2020 election campaign, to which Bankman-Fried reportedly donated more than $10 million in various forms. Asked if Biden planned to return that money, White House Spokesperson Karine Jean-Pierre refused to answer, stating: “I’m covered here by the Hatch Act.” Jean-Pierre added that she was “limited on what I can say and anything that’s connected to political contributions.”

  The Hatch Act, passed in 1939, bans the use of federal funds for electoral purposes and also bans federal officials from coercing political support with the promise of public jobs or funds. It is unclear how the Hatch Act prevented Jean-Pierre from answering reporters’ questions.

  ‘You Have to Be Just’

  According to Bruce Markell, a former bankruptcy judge and currently a law professor at Northwestern University, the answer to whether or not FTX would succeed in clawing back political donations in court is “a strong maybe.” FTX lawyers will likely claim that the donations were a fraudulent transfer according to bankruptcy laws that allow “debtors in possession” to recover donations made, in some cases, up to two years before the bankruptcy was filed.

  To make a case for fraudulent transfer, FTX lawyers would likely argue that the company was already insolvent at the time of the donations and therefore that money rightly belongs to FTX creditors.

  “The words have been used, ‘you have to be just before you’re generous,’” Markell said. Companies that are insolvent “have to pay creditors before you make donations.” With FTX accounting in notorious disarray and the high volatility of the valuations of FTX assets, however, the timing of the company’s insolvency could be a gray area.

  “Google can make all the donations in the world they want because after they make donations, they have enough money left over to pay the creditors,” he explained. “FTX is an accounting nightmare.” Reaching a resolution in the courts, if it goes that way, would probably take years.

  Some recipients have decided not to gamble and have returned the donations to FTX or to the U.S. Treasury Department. Others say they have donated the money to charity, but giving the money away may not get them off the hook.

  ‘Donation to a Third Party’

  “Recipients are cautioned that making a payment or donation to a third party (including a charity) in the amount of any payment received from a FTX Contributor does not prevent the FTX Debtors from seeking recovery from the recipient or any subsequent transferee,” FTX warned.

  “Making a charitable contribution is a nice public relations ploy to try distance yourself or your campaign from allegedly corrupt contributors,” Wilson said. “But giving the money to charity does not absolve a politician or her campaign from liability under the Bankruptcy Code or applicable state law.”

  “The charities who receive money from politicians could be considered ‘subsequent transferees’ for fraudulent transfer purposes, and thus, they could get sued, too,” he said. “In fact, the politicians and PACs could be making things worse for the charities to which they are donating.”

  The PACs themselves could be on the hook to repay millions even if the money has already been spent.

  “As a ‘transferee’ of the funds, they would be liable for the payment if a court determines it was a fraudulent transfer,” Wilson said. And beyond that, the vendors or organizations that were paid by PACs could also be on the hook as “subsequent transferees.” Bankman-Fried and his family could potentially be held liable if they received FTX funds, or if they are found to be “aiding and abetting” fraudulent transfers.

  Tyler Durden
  Sat, 02/11/2023 – 18:05

• Leftover Money In A 529 Plan? You'll Soon Have A Nice Option For It
  Leftover Money In A 529 Plan? You’ll Soon Have A Nice Option For It

  The $1.7 trillion spending bill passed in late December contained some welcome relief for parents with leftover money in 529 college savings plans — and reassurance for those who are saving up but wary of overshooting the objective.

  Specifically, people in this situation will soon be able to move 529 money into a Roth IRA. As we’ll describe below, limitations on the maneuver may throw a bit of a wet blanket on you, depending on your particular circumstances. 

  529 plans allow savers to put money away for education expenses. There’s no tax deduction for contributions, but money that’s used for qualified expenses comes out tax-free. 

  That’s great, but what happens if you end up with more money in a 529 plan than you actually needed to cover your kid’s education costs? If you cash out and don’t use the money for education costs, you’ll be hit with ordinary income taxes on the earnings, plus a 10% penalty.  

  Until now, one of the most common tactics for over-saving parents has been naming a new beneficiary for the account and using the money for them. IRS rules give wide latitude for beneficiary changes — allowing a switch to members of the current beneficiary’s family, including parents, siblings, nieces and nephews, aunts, uncles, first cousins and even brothers- and sisters-in-law.  

  Another option: the SECURE Act of 2019 lets those with qualified student loans use up to $10,000 in 529 money toward loans taken out for the beneficiary or a beneficiary’s sibling.  

  Starting in 2024, however, beneficiaries can roll money from 529 accounts to Roth IRAs without paying taxes or penalties. It’s important to emphasize this treatment is available to the beneficiary — not their parents or other account owner.  

  With all of the changes made to 529 plans in the past few years they are now better and more useful than ever

  -tax free growth
  -State tax deduction for contributions
  -use funds for college or primary education
  -roll over up to $35k of unused funds to a Roth IRA

  — Chris Kimmet, CFP® (@ChrisKimmet) February 9, 2023

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

  The beauty of the move is that qualified Roth IRA withdrawals — after a Roth has been open for five years and the owner is age 59 1/2 — are tax-free. Also, contributions — not earnings — can be withdrawn any time without tax or penalty.  

  There are some important limits, however, including: 

  • The 529 account must have been open for at least 15 years. Until the IRS posts rules to carry out the new law — SECURE 2.0 — it’s not clear if the 15-year clock will apply to how long the account has been open or how long the beneficiary has been in that role.  
  • You can’t roll 529 contributions made in the five years before the rollover, or earnings from those particular contributions. 
  • Beneficiaries can roll over a max of $35,000 over their lifetime
  • Rollovers are subject to the annual Roth IRA contribution limit. In 2023, that’s $6,500 for those under age 50, and $7,000 for those 50 and older. However, unlike regular Roth contributions, rollovers from 529’s won’t be limited by the beneficiary’s income. 

  While the new rule was meant to address accidental surpluses in 529 accounts, some are recommending parents deliberately overfund so they can use the new rule to give their kids a Roth IRA head-start in life. Since there’s no age restriction on a 529, you could even use this maneuver as a backdoor way to fund a Roth for yourself if you’re not otherwise eligible.

  However, before you plunge into those strategies, consider the potential that a government that’s over $31 trillion in debt might vaporize these new rules before you have a chance to use them that way.  

  Tyler Durden
  Sat, 02/11/2023 – 17:30

• After The Worst January Job Cuts 'Since The Great Recession', Here Are 12 Major Layoffs That Have Already Been Announced In February
  After The Worst January Job Cuts ‘Since The Great Recession’, Here Are 12 Major Layoffs That Have Already Been Announced In February

  Authored by Michael Snyder via The Economic Collapse blog,

  It appears that the tsunami of layoffs that started late last year is starting to accelerate.  January was a horrible month for job losses, and major layoff announcements are coming fast and furious here in February.  But of course the Biden administration would have us believe that everything is just fine.  Last week, the government told us that the U.S. economy “added 517,000 jobs” in January.  But as I discussed in a previous article, that wasn’t what actually happened.  The raw, unadjusted number showed that the U.S. economy actually lost 2.5 million jobs last month.  That is a terrible number, but after the bureaucrats in Washington were done with their “adjustments” it magically became a gain of 517,000 jobs.  If you want to have faith that their “adjustments” are appropriate, good for you.  But other sources also confirm that things have really taken a turn for the worse. 

  

  For example, Challenger, Gray & Christmas just issued a report that concluded that last month “was the worst January for job cuts since the Great Recession in 2009”…

  U.S. companies announced roughly 103,000 job cuts in January, the highest monthly total since September 2020, a Thursday analysis found.

  Last month was the worst January for job cuts since the Great Recession in 2009, according to a report from employment firm Challenger, Gray & Christmas.

  Around 40 percent of last month’s job reductions came in the tech industry, where Google parent company Alphabet, Amazon, Microsoft and Salesforce announced plans to lay off thousands of workers. Many of the companies said they grew too quickly in recent years and must cut costs to boost profitability.

  So many large companies announced staff reductions last month, and that trend has definitely continued this month.

  The following are 12 major layoffs that have already been announced in February…

  #1 Disney has decided to tell approximately 7,000 employees to hit the bricks…

  “We will be reducing our workforce by approximately 7,000 jobs,” CEO Bob Iger said during the company’s first quarter earnings call. “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees worldwide, and I’m mindful of the personal impact of these changes.”

  #2 Yahoo has announced that it will be laying off “more than 20% of its workforce”…

  Yahoo will lay off more than 20% of its workforce by the end of 2023, eliminating 1,000 positions this week alone, the company said in a statement Thursday.

  #3 Ebay was doing quite well, but now they have decided that 4 percent of their workers are no longer needed…

  Ebay on Tuesday announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC.

  #4 Affirm is yet another tech company that has recently made a decision to conduct mass layoffs…

  Affirm announced it’s cutting 19% of its workforce Wednesday. The news came as it reported second quarter earnings that fell below analyst estimates on both the top and bottom lines.

  #5 As the U.S. housing crash deepens, JPMorgan Chase has concluded that now is the time to “cut hundreds of mortgage employees”…

  JPMorgan Chase & Co. cut hundreds of mortgage employees this week, adding to job losses across the industry as home-lending businesses continue to be hurt by elevated interest rates.

  #6 GoDaddy just let their workers know that they plan to “reduce the size of our global team by about 8%”…

  Today, we are announcing a plan to reduce the size of our global team by about 8%. This will come as difficult news for many valued and respected GoDaddy team members.

  #7 Micron is one of the biggest private employers in Idaho, but now it intends to “reduce its global headcount by about 10% over the next year”…

  Micron has begun laying off workers, a spokesperson for the company told the Idaho Statesman.

  The news marks the beginning of the company’s plan to reduce its global headcount by about 10% over the next year. Micron CEO Sanjay Mehrotra announced during a quarterly conference call with investors in December that the company is taking significant steps to reduce costs and operating expenses as demand for its principal products wanes.

  #8 GitHub has become yet another victim of the downsizing trend in the tech industry…

  Microsoft-owned GitHub is laying off 10% of its staff, the company confirmed to Fortune.

  #9 Nomad Health just laid off approximately 20 percent of their entire corporate workforce…

  Nomad Health, a healthcare staffing startup, laid off around 20% of its corporate workforce this week, according to four terminated employees, as the surge in travel nurses and other temporary healthcare workers ignited by the pandemic cools down.

  #10 Zoom is giving the axe to approximately 1,300 workers…

  Zoom on Tuesday said it will lay off about 1,300 employees, or approximately 15% of its staff, becoming the latest tech company to announce significant job cuts as a pandemic-fueled surge in demand for digital services wanes.

  #11 Boeing was supposedly going to be hiring more workers, but instead the company just announced that thousands of positions in finance and human resources will be eliminated…

  “We expect about 2,000 reductions this year primarily in Finance and HR through a combination of attrition and layoffs,” Boeing confirmed Monday.

  #12 Do you remember when Dell computers were still popular?  Unfortunately, the tide has turned and now Dell has been forced to get rid of 6,650 workers…

  Dell Technologies Inc. is eliminating about 6,650 roles as it faces plummeting demand for personal computers, becoming the latest technology company to announce thousands of job cuts.

  I could go on and on if you would like.

  There are countless other firms that have also just announced significant layoffs.

  We truly have not faced economic conditions like this since the Great Recession, and a recent Gallup survey seems to underscore this point…

  Reflecting on their personal financial situations, 35% of Americans say they are better off now than they were a year ago, while 50% are worse off. Since Gallup first asked this question in 1976, it has been rare for half or more of Americans to say they are worse off. The only other times this occurred was during the Great Recession era in 2008 and 2009.

  Unfortunately, we are still only in the very early chapters of this new crisis.  As I have been warning for years, things will eventually get much worse.

  Our leaders have been making incredibly bad decisions for decades, and now we are going to get to suffer the consequences of those bad decisions.

  This generation was handed the keys to the greatest economic machine that the world has ever seen, but we wrecked it.

  Now the chickens are coming home to roost, and most Americans are completely unprepared for what is coming next.

  *  *  *

  It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.

  Tyler Durden
  Sat, 02/11/2023 – 16:55

• "Extraordinarily Challenging": John Fetterman "Laboring" To Adjust To Senate Due To "Special Needs"
  “Extraordinarily Challenging”: John Fetterman “Laboring” To Adjust To Senate Due To “Special Needs”

  Now that the election is long gone and Senator John Fetterman has had another stint in the hospital, the New York Times is finally telling us what we all knew months ago: Fetterman isn’t fit for the job.

  But the Times still has some trouble admitting the obvious truth, writing in a piece this week that Fetterman was “laboring” to adjust to the role. 

  And despite many on the left freaking out last week about the use of “special needs” when describing Fetterman, here’s how the Times led a new piece on the Senator:

  At Senator John Fetterman’s desk in the Senate chamber, there is a newly installed monitor that rises or lowers, depending on whether he sits or stands, and provides closed captioning so he can follow the proceedings. At the center dais, a custom desk stand has been built to accommodate the same technology for when he takes his shifts presiding over the Senate.

  The Times seems eager to walk back any previous endorsements of Fetterman…now that his vote in the Senate is secure. He was “never going to blend in seamlessly in the marbled corridors of Congress,” the new piece writes.

  It also laments Fetterman’s “physical impairment and serious mental health challenges that have rendered the transition extraordinarily challenging – even with the accommodations that have been made to help him adapt.”

  The coup de grâce was delivered when the Times wrote that Fetterman’s most evident disability is a “neurological condition that impairs his hearing”, stating that he also had a pacemaker and defibrillator implanted inside of him after his stroke. 

  Fetterman’s staff admits he “needs a better plan to take care of himself, both physically and emotionally,” the report – which he declined to be interviewed for – says. 

  

  The Times report also highlighted Fetterman’s need for additional resources while in Washington DC. The Times wrote that he “typically walks around the building with many staffers, in part because he needs assistants to test his technological setup before he enters any room and in part because they’re all still learning their way around the building.”

  And while the Times has obviously come to terms with Fetterman’s inability to do his job, other Democrats like Amy Klobuchar aren’t yet ready to admit Fetterman’s obvious shortcomings. Klobuchar, in true “woke” guilt fashion, instead blames herself: “He answers like you would answer anyone. It’s us that have to get used to it; he’s used to it.”

  Klobuchar’s delusional reality aside, it is now clear that Fetterman may not be able to finish his term. And the media was complicit in allowing it, despite the fact that Fetterman refused to release his medical records prior to Election Day.

  As Zero Hedge contributor Quoth the Raven wrote back in October: “Without releasing his full medical records, everyone is simply left to wonder whether or not Fetterman is just communicatively “disabled” or whether he is truly cognitively impaired.”

  Now, we have our answer.

  “The true travesty of the situation isn’t just that Mr. Fetterman is being told by those around him to forge forward… but that those supporting him could have a clear conscience after having the nerve to turn the issue into one of discrimination when everyday people ask honest questions about Fetterman’s condition,” QTR continued back in October. 

  “To some degree, it’s par for the course for the left, who has seemingly made everything about identity politics over the last decade. I almost can’t even blame the base for that; it’s ingrained in them. But what I can take exception with is the fact that no one had the same nerve to step in and level with Fetterman or his family that he obviously may not be the best candidate for the job.”

  Now the question becomes: who will step in to his Senate seat when he inevitably has to step down? 

  Say hello to Senator Gisele…

  

   

  Tyler Durden
  Sat, 02/11/2023 – 16:20

• Who Benefitted From This Chaos?
  Who Benefitted From This Chaos?

  Authored by Jeffrey Tucker via The Epoch Times,

  Two years ago on this day, I posted a piece that was very hard to write. It concerned precisely who was benefiting from the lockdowns, masking, and all that was associated with it, including school and business closures and travel restrictions.

  As much as we would all prefer for everyone to be concerned about big issues like public health and human rights, it’s sadly the case that industrial interests (and even ruling-class evildoers) sometimes prevail over both.

  Obviously, most people all over the world have lost so much over three years, not only health and income but also hope. It’s tragic. Meanwhile, many others seem to have made out like bandits during the biggest transfer of wealth in the shortest time in the history of humanity.

  

  (null xtract/Pexels)

  Many groups and sectors had a kind of hankering for a pandemic. They turned a widespread and mostly manageable pathogen—doctor/patient relationships and reasonable cautions on the part of the vulnerable—and converted it into the basis for a global panic of compulsion and coercion that overthrew centuries of progress in law and liberty.

  Let’s just go through the list of beneficiaries I first compiled two years ago.

  1. The tech companies that became so enraptured with the digital world—and we can include online retailers in this—that they forgot all the people who cannot and do not want to live entirely outside the physical world. To be sure, many of these high flying companies are now coming back to earth thanks to higher interest rates. Even Zoom may be falling on hard times. To which I say: Schadenfreude.

  2. The pharmaceutical companies with hundreds of billions of investment in labs and distribution circles that wanted to ply their wares in the midst of emergencies, in addition to the PCR testing industry, not to mention mask and ventilator makers and so many other grifting companies in this space. They not only gain from tremendous subsidies and indemnification from damages; they even got governments to conscript their customer base.

  3. Public health intellectuals, who for at least a decade and a half had fallen for the romance of computer modeling, were itching to try out a new method for disease mitigation. They must have gotten quite a kick out of watching the experiment tried out in real time. Speaking of: we haven’t heard from these people in a very long time. They seem conveniently very quiet. Notice how the prophets of doom who were all over the news three years ago, with their magic ability to see the future with precision, have completely vanished?

  4. The mega-billionaire Bill Gates found himself vexed by computer viruses that were wrecking his Windows operating system and thereby developed a passion for blocking viruses in general, while failing to understand the difference between biology and computer hardware. He seems to have done very well for himself, not only with his investments but now with his new book telling us how he will single-handedly change the path of the global climate.

  5. Government officials certainly had a field day trying out new uses of power. My goodness, they even got their mitts on social media, scripting who gets to speak and who cannot. The national security state hasn’t had this much fun since the Cold War. It was, in short, the most successful ramp up of government power the world over in modern times or maybe ever. Disease panic proved more advantageous to them than ever war and economic depression.

  6. Media companies, who live on clicks and know with certainty that public panic is the best way to guarantee consumer attention, did especially well, given that millions were locked at home with nothing else to do. Talk about a captive audience!

  7. The Chinese government, which was supremely annoyed at the Trump administration’s trade policies, successfully trolled the West into believing that China nixed the virus through totalitarian controls. It can now brag to have scripted the pandemic response for the whole world, and is now goading the World Health Organization into doing ever more of it.

  8. Rabid opponents of the Trump administration, who had failed to wreck it through accusations of Russian collusion and then impeachment over a phone call to Ukraine, finally turned to creating tremendous social, economic, and political chaos by massively overblowing the severity of a widespread viral pathogen, which itself became a metaphor for the political infection they believed afflicted the country. This was the final undoing of the administration, much to the celebration of his political opponents.

  9. School teachers’ unions that have been wanting to strike for years in order to extract pay and benefits from the taxpayer, worried that doing so would turn their public against them; for them, lockdowns were the perfect excuse to find another way. They abandoned their jobs and got paid anyway. Then they tried to make the racket last as long as possible.

  10. A ruling-class population that has lost touch with people who cannot live on their computers, had become increasingly detached from the flow of life as it exists in the physical world, utterly failed to empathize with the suffering of others under lockdown. But they rather warmed up to the mess they had created because it meant they could make the big bucks while never changing out of their PJs.

  

  Social distance: A cyclist rides past a Santa Monica beach parking lot in Santa Monica, Calif., on March 24, 2020. (Frederic J. Brown/AFP via Getty Images)

  Those were my choices two years ago and they hold up rather well, if I may say so. No one interest group could have achieved this on its own. It required a perfect storm. It doesn’t have to be a conspiracy much less a specific plot. It only requires that the right confluence of events present themselves in a way that prompts action and cooperation.

  I might add one more push for pandemic that touches on a general philosophy of life. The world is overflowing these days with people who are consumed by ideology. They have a perception that something is fundamentally wrong with the world and are possessed with a burning passion to fix it. They long for big change, mighty drama, epic shifts in history. For them, the marginally improving world of bourgeois existence seems dull and uneventful. The pandemic was for them something exciting and momentous: it presented a chance for a Great Reset.

  

  That we will look back with astonishment at what has happened to the world is a near certainty. The folly! And people of the future will never stop asking that great question of why. The answer is finally unsatisfying. It was a massive screwup by people and groups who wanted to try something completely new, none of whom were willing to bear responsibility for the results. And from that screwup, all the wrong people got riches and power.

  It will be up to the rest of us to pick up the pieces and get life on the right track again. This does not happen without accountability and some measure of justice.

  Tyler Durden
  Sat, 02/11/2023 – 15:45

• Only One Border Crossing Open In Opposition-Held Northwestern Syria
  Only One Border Crossing Open In Opposition-Held Northwestern Syria

  International organizations are calling for more border crossings to be opened for aid to reach Northwestern Syria, where thousands of people have died following Monday’s earthquake in neighboring Turkey. Even before the quake, the opposition-held region of Syria was deep in humanitarian crisis, with 4.1 million out of its 4.5 million inhabitants depending on humanitarian aid, following a nearly 12-year-long civil war that is still ongoing.

  As Statista’s Anna Fleck shows in the chart below, currently only one UN-sanctioned border crossing is operational between Turkey and Syria. It saw the first convoy of six trucks carrying aid on Thursday, three days after the quake struck, despite having been planned before the earthquake. According to the UN, the convoy was hampered by heavy damage to roads on the Turkish side. The second convoy is reported to have arrived only today.

  

  You will find more infographics at Statista

  It has been particularly difficult to get aid to the people in need in northwestern Syria since decisions must be negotiated with the Assad government, often with Turkey and Russia too, via the UN, which can be a slow process.

  So far, Syrian government-controlled areas have received some aid, provided from countries such as Russia, Iraq and Iran. This list of donors is more limited to that of Turkey since many countries do not want to have direct dealings with Assad following the civil war. When delivering aid to the Syrian government directly, it has a hold over what aid is delivered where, meaning it likely won’t go to the opposition-held regions. According to the Guardian, in 2021, researchers found that the Central Bank of Syria was taking 51 cents in every dollar of aid.

  Between 2014 and 2021, there were four crossings sanctioned by the UN into Syria. Since then, however, UN Security Council vetoes from China and Russia cut these down to just one, the Bab al-Hawa crossing.

  Reuters reports that Ankara is currently discussing reopening a border crossing into Syrian government territory and also considering opening another into the Idlib region.

  A total of 21,000 people were killed when a 7.8 magnitude earthquake struck Turkey, ricocheting into neighboring Syria.

  Tyler Durden
  Sat, 02/11/2023 – 15:10

• South Dakota Senate Passes Ban On Puberty Blockers, Trans Surgery
  South Dakota Senate Passes Ban On Puberty Blockers, Trans Surgery

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

  The South Dakota Senate approved a bill on Thursday that would ban the provision of hormone treatment, puberty blockers, and genital surgery for trans youth.

  

  The bill, which was passed in a vote of 30–4, would also force health care professionals who violate it to lose their licenses and be sued. The measure will now go to the desk of Gov. Kristi Noem, a Republican, who has indicated she will sign the bill into law.

  House Bill 1080 aims to restrict medical professionals from providing certain medical interventions to minors if the aim is to alter the appearance or validate the perception of the minor’s gender identity when it is inconsistent with their biological sex.

  The bill defines “sex” as the biological indicators of male and female as determined by chromosomes, hormones, gonads, and genitalia present at birth.

  The bill prohibits medical professionals from prescribing or administering drugs to delay normal puberty, prescribing hormones (testosterone, estrogen, or progesterone) in amounts greater than those normally produced, performing surgeries to alter the appearance of genitalia, or removing healthy body parts or tissues.

  Minors born with a medically proven disorder of sexual development, diagnosed with a disorder of sexual development, or who require treatment for infections, injuries, diseases, or disorders caused by banned medical treatments are exempt from the bill.

  A medical professional found to have violated the provisions of the bill can have their medical license or certification revoked.

  If a medical professional has initiated treatment for a minor before July 1, 2023, and immediately terminating the treatment would cause harm to the minor, the treatment can continue for a period during which the minor’s use of the drug or hormone is reduced. This period cannot extend beyond Dec. 31, 2023.

  Read more here…

  Tyler Durden
  Sat, 02/11/2023 – 14:35

• 'Education Crisis': 23 Baltimore City Schools Have No Students Proficient In Math
  ‘Education Crisis’: 23 Baltimore City Schools Have No Students Proficient In Math

  A Project Baltimore investigation revealed the devastating reality of nearly two dozen Baltimore City Schools having zero students proficient in math. 

  New test scores, known as MCAP (Maryland Comprehensive Assessment Program), obtained by Project Baltimore, revealed that 23 schools, including elementary, middle, and high schools, had not one student that could do math at grade level.

  “The results of the latest Project Baltimore study are very alarming, “Civil rights attorney Ben Crump told FOX 45

  The civil rights attorney joined a lawsuit against the school system last year, which accuses them of squandering taxpayer dollars and failing to provide basic skills to kids. 

  “I think anytime a young person is denied a quality education, it represents a crisis. What we have to do is look at the situation for what it is; we have to say ‘we are failing our children and we have to take the responsibility to do better,'” he said. “This is an unprecedented lawsuit because what it’s trying to do is give the taxpayers a greater say in the education of their children based on the fact it’s their tax dollars being used by the city school system, and if I’m paying my money, I need to see some results.”

  Here’s more on the test scores:

  The Maryland State Department of Education recently released the 2022 state test results known as MCAP, Maryland Comprehensive Assessment Program.

  Baltimore City’s math scores were the lowest in the state. Just 7 percent of third through eighth graders tested proficient in math, which means 93 percent could not do math at grade level.

  

  But that’s not all; Project Baltimore combed through the scores at all 150 City Schools where the state math test was given.

  Project Baltimore found, in 23 Baltimore City schools, there were zero students who tested proficient in math. Not a single student.

  

  Among the list of 23 schools, there are 10 high schools, eight elementary schools, three Middle/High schools and two Elementary/Middle schools.

  Exactly 2,000 students, in total, took the state math test at these schools. Not one could do math at grade level.

  “They [school kids] go there to get babysat for eight hours and come home,” Nichelle Watkins, a Baltimore City parent. 

  We’ve shared reports from Project Baltimore (read: here & here) over the years exposing the school system’s corruption. The question people need to be asking: Why is the liberal-run city setting up future generations of kids to fail? 

  Tyler Durden
  Sat, 02/11/2023 – 14:00

• Watch: 10 Videos That Prove That Things Just Got Quite A Bit Weirder
  Watch: 10 Videos That Prove That Things Just Got Quite A Bit Weirder

  Authored by Michael Snyder via TheMostImportantNews.com,

  Can you feel it?  The past several years have been a time of wars and rumors of wars, pestilences, major natural disasters, a global inflation crisis, and a rapidly growing global food crisis.  So much bad stuff has already happened, but I have been hearing from so many people that have a feeling that things are about to get a whole lot worse. 

  

  It is almost as if we are about to reach a major historic turning point and things are about to go to an entirely new level.  Unfortunately, it appears that events have already started to really amp up within the past several days.  So much is happening all over the globe, and I am going to touch on a number of the most important items in this piece. 

  The following are 10 videos that prove that things just got quite a bit weirder…

  #1 Was it another “Chinese spy balloon”?  The Pentagon has confirmed that it just shot down another “high altitude object” that was flying over Alaska.

  #BREAKING: White House: Pentagon downed unknown object flying in US airspace within the last hour off Alaska coastline pic.twitter.com/4ufrzGBlOj

  — VINnews (@VINNews) February 10, 2023

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

  #2 Is China preparing for something?  A Chinese satellite apparently just shot a “wall of mysterious green lasers” near Hawaii.

  WATCH 🚨 Suspected Chinese satellite reportedly shoots wall of mysterious green lasers down to earth, spotted over Hawaii pic.twitter.com/k8ORTVsWgZ

  — Insider Paper (@TheInsiderPaper) February 9, 2023

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

  #3 The U.S. military just test launched a Minuteman III intercontinental ballistic missile.  We are being told that this launch was intended as a “message to Russia”.

  WATCH: US Air force Global Strike Command launched an unarmed Minuteman III intercontinental ballistic missile equipped with a test reentry at 11:01 PM Pacific Standard Time, Feb. 9 from Vandenberg Space Force Base, California. pic.twitter.com/kto2SmvM82

  — Ryan Chan 陳家翹 (@ryankakiuchan) February 10, 2023

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

  #4 The mainstream media is almost entirely ignoring one of the most important stories of the decade.  Meanwhile, on Russian television they are talking about how these revelations could literally spark a nuclear war.

  #5 Is another pandemic coming?  The World Health Organization has announced that the world “must prepare” for an H5N1 bird flu pandemic that could soon sweep through the human population of the planet.

  NEW – WHO’s Tedros says we “must prepare” for a potential H5N1 human bird flu pandemic. pic.twitter.com/4Y3asCMN9S

  — Disclose.tv (@disclosetv) February 9, 2023

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

  #6 An extremely angry mob of radical activists just stormed the Oklahoma State Capitol while it was in session, but nobody in the mainstream media will dare call it “an insurrection”.

  A mob of #trans activists took over the Oklahoma Capitol building to try & stop the state’s Republican lawmakers from passing bills that would outlaw the transitioning of minors & require teachers to inform parents if students identify as trans. pic.twitter.com/TPxdhKe9Eq

  — Andy Ngô 🏳️‍🌈 (@MrAndyNgo) February 7, 2023

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

  #7 Somehow, CBS was able to line up an absolutely perfect sponsor for Sam Smith’s “tribute to Satan” at the Grammy Awards.

  Wait for it … pic.twitter.com/9SsSKK0Mac

  — The Post Millennial (@TPostMillennial) February 6, 2023

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  #8 I’m sure that Zelensky just has a cold or something.  There is nothing suspicious about his behavior at all.

  pic.twitter.com/zrcM9pvntq

  — Clown World ™ 🤡 (@ClownWorld_) February 10, 2023

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

  #9 The collusion between the federal government and Twitter to censor free speech was far more comprehensive than any of us originally realized.

  #10 It is being reported that “part of the sun has broken off and formed a vortex”.  Scientists are admitting that they have never seen anything quite like this before.

  Talk about Polar Vortex! Material from a northern prominence just broke away from the main filament & is now circulating in a massive polar vortex around the north pole of our Star. Implications for understanding the Sun’s atmospheric dynamics above 55° here cannot be overstated! pic.twitter.com/1SKhunaXvP

  — Dr. Tamitha Skov (@TamithaSkov) February 2, 2023

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

  *Bonus Video* A modern day “Viking” jumps off a snow-covered mountainside with two very sharp axes into a tiny pond of water.

  If you need proof that men and women are not the same.

  The science is settled.

  pic.twitter.com/DmGfeGKA3t

  — It’s Ma’am, PhDelightful (@ItsGoneAwry) February 9, 2023

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

  Global events have begun to greatly accelerate, and I expect the remainder of 2023 to be incredibly chaotic.

  If you appreciate the work that we are doing to wake people up, please consider supporting our efforts.

  We have reached such a critical moment in human history, and there is so much confusion out there.

  The truth sets people free, and we will continue to endeavor to share the truth with as many people as we can.

  *  *  *

  It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.

  Tyler Durden
  Sat, 02/11/2023 – 13:30

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