GOV/MIL Main "Great Reset" Thread

marsh

On TB every waking moment

Peter Navarro Previews "Taking Back Trump's America" Launch Party Tonight​

Bannons War Room Published September 19, 2022

(Tonight launch party of "Taking Back Trump's America" book and movement: blueprint with populist economic nationalism themes - end endless wars; secure the southern border; bring home our manufacturing base and supply chains.)
 

marsh

On TB every waking moment
The NWO Depopulation and Global CONTROL "End Result" is the WEF & IBC Agenda! 1:37 min

The NWO Depopulation and Global CONTROL "End Result" is the WEF & IBC Agenda!​

Rogersings Published September 19, 2022

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This short video explains HOW the New World Order (NWO) Depopulation and Total Control "One World Government" is being rolled OUT upon the world by a coordinated group of Globalist ... beginning with the SCAM-DEMIC!

1. De-Stabilization - Promote HATE between people and FEAR of Contagion & Climate Change
2. De-Construction - Crash Economy by contrived Food and Energy shortage
3. Re-Construction - Establish Digital Currency, Bio-ID and UBI as the Rescue
4. End Result - NWO of Total CONTROL over personal responsibility and resources

The PUBLIC Facing Organization implementing this EVIL plan upon the world is the World Economic Forum (WEF) and the International Business Council (IBC) ... but the Secret Society Luciferians (Jesuits and Freemasons), the Zionist Bankers (Rothschild and Rockefeller) and CIA/Mossad/MI6 (Intel agencies who run the Media and Puppet Governments) are HIDDING behind the curtain pulling the levers ... like the Wizard of Oz.

Here is the FULL video: Foundation Corona Committee, 113th session on July 15th, 2022 - Golan Ashton Human Rights Attorney ---> Corona Investigative Committee: Session 113 Mycelium (July 15, 2022)

Transcription – 113 Session – Corona Committee ---> Transcription - 113 Session - Corona Committee - Stiftung Corona Ausschuss Info
 

marsh

On TB every waking moment

Breaking Free from Technocracy: Decentralization and the Information War (Dr. Robert Malone)​

ThingsThatMatter Published September 19, 2022

(Decentralization, nation states, fall back on nation state structures that have been proven to work. Decentralize to locally based solutions. Only about 10% of the people want to be free and accept that burden. Form and strengthen community. Awareness of threats like control of information. Integrity, dignity and community vs transhumanism. Valuing human fundamentals, ethics, belief systems, family, children - those things that give us meaning and purpose.)
(No summary given. Have not watched.
 

marsh

On TB every waking moment

Americans Are Set To Face A Massive Power Bill This Winter​

JACK MCEVOYENERGY & ENVIRONMENT REPORTER
September 19, 20223:07 PM ET

Household electricity bills, which are already soaring to their highest levels in years, are likely to experience substantial price hikes during the winter months due to the rising price of natural gas, according to the Energy Information Administration (EIA).

The average household price of electricity in 2022 is forecasted to be 14.8 cents per kilowatt-hour in 2022, 7.5% higher than it was in 2021 due to rising natural gas prices, according to the EIA’s short-term energy outlook. The National Energy Assistance Directors Association (NEADA) also forecasted that American families will pay 17.2% more to heat their homes this winter, according to a Sept 12. press release.

The average cost of household energy will have increased by more than 35% from 2021 if NEADA estimates are correct.

Natural gas prices, which more than doubled in 2022, will also cause the average price of electricity to rise to 15.24 cents per kilowatt-hour in 2023 as global and domestic demand will hike during the winter months.

The agency predicts that wholesale prices will reach $100 megawatt-hour in New York, which is up 124% from 2021, and New England, up 96% from 2021.

The Northeast faces the highest winter electricity price forecast as the region is heavily reliant on liquefied natural gas, large amounts of which are being imported to Europe to address the continent’s energy shortages; meanwhile, green energy is currently unable to fill supply gaps.

The Southwest region of the U.S. has the lowest forecasted prices in 2022, with prices predicted to average $69 per megawatt-hour, up 25% from 2021, according to EIA.

President Joe Biden’s Treasury Secretary Janet Yellen warned that oil prices could rise in 2023 after the European Union’s embargo on Russian oil goes into effect which could cause further energy price hikes.

Natural gas prices are currently soaring due to global supply shortages that are being exacerbated by Russia’s invasion of Ukraine. Gas accounts for about 37% of U.S. energy consumption, according to the EIA outlook.

EIA also predicts that there will be a record level of gas use this year amid soaring prices since energy producers will have less ability to burn coal due to the shuttering of coal plants nationwide.

The Consumer Price Index for energy in August 2022 increased by 15.8% from August 2021, the largest 12-month increase since August 1981, due to high fuel prices and inflation, according to the Bureau of Labor Statistics. At least 20 million American households, or one out of every six homes, were behind on their utility bills in August due to skyrocketing energy prices, according to Bloomberg.

The EIA referred the Daily Caller News Foundation to its energy outlook in response to a request for comment.
 

marsh

On TB every waking moment

Biden Admin To Continue Draining Oil From Strategic Reserves Through Election Day​

JACK MCEVOY ENERGY & ENVIRONMENT REPORTER
September 19, 20225:27 PM ET

The Biden administration announced Monday that it is auctioning 10 million barrels of oil from the Strategic Petroleum Reserve (SPR) which it will deliver throughout November, according to a Department of Energy (DOE) notice of sale.

The DOE announced that it will extend the period in which it aims to sell 180 million barrels of crude oil by auctioning 10 million barrels from Sept. 19 to Sept. 27 and delivering the oil from Nov. 1. to Nov. 30, according to the notice. The deliveries of the reserves, which aim to bring down gas prices, will take place during the same month as the midterm elections that take place on Nov. 8.

White House Press Secretary Karine Jean-Pierre said on Sept. 14 that gas prices had fallen for 90 straight days, touting Biden’s efforts to bring down prices at the pump after gas prices peaked at over $5 per gallon in June 2022. The White House is eager to continue lowering gas prices ahead of the midterm elections as it believes prices at the pump most directly affect voters’ everyday lives and their perception of the economy.

The average national gas price is $3.68 per gallon, which is 49 cents higher than it was in September 2021, according to AAA data. Biden’s Energy Secretary Jennifer Granholm said on Sept. 8 that the administration may continue to auction off oil barrels from the SPR past October to ward off increasing fuel prices in late 2022.

Biden has released 155 million barrels of oil so far, and the November sale will bring the total to 165 million barrels out of the 180 million barrels that he sought to sell from March to October. The emergency reserve fell to its lowest level since Nov. 1984 on Sept. 6 after consistent monthly releases of crude, according to DOE data.

SPR oil is sold to the highest bidder, and some of the businesses entitled to make bids are foreign companies. Biden announced in late March that he would approve SPR sales to bring down gas prices and increase the global supply of oil that is being disrupted by “Putin’s price hike,” according to a White House press release.

The DOE did not immediately respond to the Daily Caller News Foundation’s request for comment.
 

marsh

On TB every waking moment

John Phipps: Can Scientists Actually Make it Rain? The Argument Over Cloud Seeding​

Video on website 3:11 min

By U.S. FARM REPORT September 19, 2022

A different question about weather from Derek Jones in Saginaw, Michigan on the show:

“I wanted to know does cloud seeding really work? And if it does why aren't some, if not all of these drought-ridden states at least attempting to try anything, if it will work. Even if it had a small chance of working. Dead crops.

Rivers and lakes drying up, animals dying from heat exhaustion. It's clear climate change is only getting worse with each passing year, and if man is a direct cause of these changes then man can be part of the solution.”

Cloud seeding was first conceived in the late 1800’s but didn’t get any traction until we had planes to try it out. Basically, various types of compounds are sprayed or shot into clouds to provide nuclei around which water can condense, leading to particles large enough to fall to the ground. I was going to show a bunch of horrifying dry rivers, but I’ll save that for another time.

However, the rapidly worsening water supply crisis has done just what you suggested – prompted governments to try remedies with uncertain success rates. Which is about the best you can say for cloud seeding.

Despite the fact that China and other countries are trying more cloud seeding – mostly with silver iodide – has not produced much evidence it works. It’s just too hard to establish a control experiment to compare to. That may change with new methods of measuring cloud droplet size tried last year.

Meager evidence from that experiment showed statistically significant rainfall of 6 millimeters or about ¼”. That is not practically significant however, as corn farmers found out this summer. Indeed, the cost of seeding if it does work makes it more likely to be used to induce snow for the ski industry, which, looking at lift tickets, can well afford it.

Outside China, there is no established seeding industry, just a few operations in North Dakota and other Plains states. I am very skeptical whether it will ever be practical or even proven technology but if I’m wrong, prepare for a burgeoning climate litigation industry to be putting up billboards to attract those who feel, their rain was stolen by a neighboring area.

Finally whenever we reach the point of thinking we GOT to try something even if it has almost no chance of working, prepare to be fleeced.
 

marsh

On TB every waking moment

Seeding The Sky: Can Scientists Manipulate The Weather To Benefit Agriculture?

By CLINTON GRIFFITHS August 18, 2022
Growing population centers and increasing resource demands are pushing scientists in search of additional water sources. Desalination, drilling water reclamation and deep aquifer exploration are often the first draws from the well of ideas. However, technology seeks to tap atmospheric rivers, bringing rain and the promise of renewal.

Weather modification is the pursuit of technology or land management practices that ultimately alter, support or encourage a preferred atmospheric outcome. It can be done to improve or encourage rainfall; increase mountain snowpack; and suppress hail, lightning and flooding.

“People have almost a primordial urge to try to control the weather,” says Andrew Detwiler, president of the Weather Modification Association. “It’s been in the human psyche for millennia, but what we think of today is much more modern.”

Weather modification is happening already. At least 10 states are currently seeding clouds or studying its possibility to help support cities and continue agricultural production.

Types of Weather Modification
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ARID EXPANSION
Meteorologists and climatologists often say drought begets drought and there’s at least some evidence a causal loop is forming. A study published in the Proceedings of the National Academy of Sciences raises the possibility of a climatological precipice in the southwestern U.S. as a drought that started in 1999 and continues to expand. The authors worry about the brink becoming the baseline.

In 2022, variable Sierra snowpack, dwindling Colorado and Rio Grande river levels, a vanishing Great Salt Lake, falling well levels along the Ogallala and the slow disappearance of the nation’s largest reservoir of Lake Mead all com-bine to flash warning signs that farming, or even living west of the nation’s dryline, is a generational uncertainty.

WATCHING THE CLOUDS
Heat soaks through the soles of Carlon Stapper’s boots as they crunch across the landscape of loose rocks and stubble, baking in the monochromatic expanse of the west Texas Edwards Plateau. A herd of goats shuffle away hunting new slivers of shade beneath the relentless summer sun.

“There’s nothing growing at this point,” Stapper says. “There’s no grass and even some of our brush didn’t leaf out this year.”

His ranch, in western Crockett County along the Pecos River, raises Angora goats, which are typically well suited for the region’s climate. This year they’re feeding a protein supplement because of the drought.

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Carlon Stapper Quote
“I wholeheartedly believe in the technology,” says Stapper, a 10-year board member of the West Texas Weather Modification Association. “There just haven’t been many opportunities because to enhance the clouds, we have to have clouds first.”

TECHNOLOGY TAKES FLIGHT
The dull drone of the engine buzzes the sky as a yellow air tractor sets its sights just below a cumulonimbus cloud puffing its cauliflower shaped lungs toward the heavens.

Mounted just off the wing’s trailing edges are rows of nozzles — pistols ready to fire a positively charged mist of water into the sky. As the airplane feels the tug of the cloud’s updraft, the seeds of another Texas rain are sent charging through its core.

“If you introduce the right kind of particles into this supercooled area of the cloud, they can cause water droplets to freeze and additional ice crystals to form from excess water vapor in the cloud,” explains Detwiler, also a longtime university professor in North and South Dakota. “When you have a mixture of ice particles and cloud droplets, the liquid drops evaporate, and the ice particles grow becoming big enough to precipitate out.”

The reality of weather modification has long been wisps of foggy science promising on-demand solutions while delivering statistical maybes or anecdotal actualities. First developed after World War II, cloud seeding has been attempted off and on for decades.

“We have long-term statistical evidence from Idaho Power that cloud seeding has put more snow in the mountains,” says Eric Snodgrass, principal atmospheric scientist for Nutrien Ag Solutions.

Dryness on the Move States Using Weather Modification
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FLARES AND LASERS
Traditionally done with wing- or rocket-mounted silver iodide flares, new technology is finding its way into the industry.

In Dubai, scientists are trying lasers mounted on drones to coax excited water particles together ending with their fall from the sky. In Texas, teams are trying calcium chloride flares.

“These particles are very hygroscopic. When you release them into a cloud, they attract moisture very quickly,” says Jonathan Jennings, meteorologist for the West Texas Weather Modification Association.

In addition, Jennings has been working with Dan Martin, a research engineer with USDA’s Agricultural Research Service, to test a recently patented technology using water.

“We’re using tap water, but we’re charging it as it exits the nozzle,” Martin says.

These experts say seeded clouds average between 5% to 15% more precipitation flux (how hard and how much it rains) compared with the non-seeded counterparts. In early trials, Martin’s positively charged water is beating that number.

“We’re seeing about 25% to 30%,” he says. “That is just from the initial data set, and we hope to at least confirm that this year.”

Long-running droughts has communities in the U.S. and abroad giving cloud seeding a fresh look. Jennings sees it as a long-term water management strategy to help bank water supplies in wet years, so it is available during years with less rain.

“If we can take an area that gets maybe 5" of rain a year and turn that into 10" a year, then you change the game,” Martin adds.

It’s also less expensive than other freshwater systems, such as desalination, reclamation and aquifer pumping. Jennings says their studies show 1 acre foot of water seeded by traditional silver iodide flares costs less than $10 compared with desalination at $2,000 or more.

CLOUDED IN CONTROVERSY
Since its inception, altering rainfall via cloud seeding methods have been controversial.

“There’s a budget to moisture; if it’s taken anywhere along the path, then you’re only left with your local recycled moisture,” Snodgrass says.

Jennings says they aren’t taking rain from one place to give to another, they’re simply enticing the clouds to rain more when they do.

“What we’re doing allows clouds to grow larger and last longer, anywhere from a 15-min. extended lifetime in small clouds to upward of 45 minutes in larger clouds,” Jennings says.

He’s also adamant they aren’t making it hail. In fact, Martin’s new charged water project is being tested for hail suppression in North Dakota.

“Every year there’s $10 billion in property damage due to hail; $1 billion of that directly affects agriculture,” he says. “Our system converts the cloud moisture into rain and with less water available you get pea-sized hail rather than golf-ball sized hail.”

MODIFIED FOR GOOD
Intentional or not, humans have helped shape today’s weather patterns. Now they’re looking at technology to protect their future. These experts say rather than spotty coverage in a handful of states, a well-funded and nationally coordinated approach would have a bigger impact.

“If you can provide more rainfall on arable land for crops then, hopefully, we can increase yield from the limited area we have available,” Martin says.

That’s what Texas rancher Stapper hopes as he eyes his brown pastures.

“We’re learning more and doing a better job with the clouds all the time,” he says. “We can’t do anything else to get rain other than this and pray."

...............................................................

Restoring the Sinai
The Weather Makers is a group focused on regenerating the ecosystem in Egypt’s Sinai Peninsula.

“Back in the day, 4,000 to 8,000 years ago, it used to be quite a green oasis,” says Pieter van Hout, a stakeholder manager with The Weather Makers.

If the Egyptians approve, the plan is to dredge Lake Bardawil, desalinate those soils with plants and freshwater in hopes of returning that soil to the land where plants can start to grow again. Essentially, Van Hout says, you restart the region’s water cycle: “If you have the right amount of vegetation then you have enough moisture in the air, and then you have enough to condensate and come down as precipitation.”

The Weather Makers point to the Loess Plateau in China. Once brown and degraded, it’s now a lush green valley where plants and animals thrive.

“The proposition is not that the entire planet can be green,” van Hout says. “It’s about degraded landscapes because those you can regenerate.”

Loess Plateau
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Read More

Greening the Desert: Dutch Researchers Work to Restore Sinai Peninsula

USDA Scientists Testing New Cloud Seeding Technology
 
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marsh

On TB every waking moment

Big Brother: Secret Government Surveillance Camera Deepens Private Property Lawsuit

By CHRIS BENNETT September 19, 2022

Government surveillance cameras watch U.S. citizens on private land. Period. Full-stop.

Without warrant or probable cause, at the federal level and sometimes at the state level, government officials claim the power to enter private property, install secret cameras, and record at will—all without accountability or oversight.

Case in point: Following a lawsuit initiated by two hunting clubs, the Pennsylvania Game Commission (PGC) admitted to surveilling club members via a no-warrant trail camera. “We never had a clue it would be as obscene as having game cameras spying on us,” said Frank Stockdale, president of Punxsutawney Hunting Club. “It’s outrageous to think someone’s taking pictures of you on your own private property.”

“I don’t see how anybody has the right to film me,” echoed Punxsutawney member Mark Miller. “It shouldn’t be happening.”

Federal and state agencies often claim authority to clandestinely monitor private landowners via the Open Fields doctrine. Backed by the Supreme Court, Open Fields denies constitutional protection from warrantless searches to private acreage.

However, a glaring pile of surveillance questions is mounting related to the activities of federal and state officials across the U.S. How many no-warrant federal or state cameras currently operate (or operated in the past 25 years) on private land? If cameras are permissible without warrant, what prevents federal or state officials from setting up year-round, live video feeds on private property?

If federal or state officials—lacking a warrant, a judge’s nod, reasonable suspicion, or probable cause—can secretly place a surveillance camera on the land of private citizens, then why not install multiple cameras—5, 10, 20? If a month’s worth of photo surveillance can be collected, why not six months of coverage? Why not five years? Why not on a permanent basis?

Where is restraint? Where is accountability? The questions answer themselves.

How Many Cameras?
In December 2021, Punxsutawney (4,000 acres) and Pitch Pine (1,100 acres), adjacent hunting clubs in central Pennsylvania’s Clearfield County, launched a lawsuit against PGC, alleging warrantless searches of private land. Represented by the Institute for Justice (IJ), the clubs claim PGC officers often “roam for hours” and “spy on” private land in search of hunting violations. PGC behavior, according to the lawsuit, is a direct violation of Pennsylvania’s state constitution, which in Article 1, Section 8, explicitly protects “persons, houses, papers, and possessions” from unreasonable (i.e., warrantless) searches.

How many no-warrant federal or state cameras currently operate (or operated in the past 25 years) on private land? Photo courtesy of Institute for Justice

During the legal process of discovery, seven months after the filing, IJ received notification (and photographs) from PGC revealing a secret trail camera installed by game wardens on Punxsutawney property. The PGC disclosure was long suspected by members of both clubs: In February 2022, long-time Pitch Pine member Jon Mikesell spoke presciently. “We’re literally dealing with game wardens hiding on our land to catch guys committing some kind of infraction,” he said. “I wonder if they’re using game cameras on our own private land to watch and monitor us; I have deep suspicions.”

According to IJ attorney Daniel Nelson, the PGC camera was placed surreptitiously on Punxsutawney property within proximity of a feeding station in 2016 and functioned for roughly one week. “We have been made aware of one camera, but we are still working to make sure there were not, and are not, others. The camera operated 24-7 and took photos all hours of the day. It’s outrageous and disturbing because it recorded club members, vehicles, and license plates for the state. If not for the lawsuit, my clients would not have known about the camera.”

“If a camera has no warrant or no judge’s approval, then it’s there for one reason—to find a crime,” Nelson continues. “But you can be sure, if the government already knew of a crime, they would instantly get a warrant. Instead, it’s find the people, set up the camera, and wait for an infraction—the reverse of how law enforcement is supposed to act.”

Despite the divulgence of PGC’s state-level camera, the possibility of federal surveillance remains at Punxsutawney and Pitch Pine. As in, did PGC contact U.S. Fish and Wildlife Service (FWS) and request additional camera installation by FWS? Federal agencies claim authority to utilize no-warrant cameras and surveillance on private land across the nation, regardless of state law.

According to federal officials, backed by the Supreme Court via the Open Fields doctrine, private acreage poses no boundary to any government representative. Constitutional protection, according to Open Fields, extends to person and home, but not to greater land holdings.

(FWS did not respond to Farm Journal inquiries regarding Punxsutawney and Pitch Pine, or questions related to Open Fields.)

“That’s something we have to consider,” Nelson says. “We not suing the feds, but we don’t have information as to whether the feds are involved.”

One picture among a chain of photos taken by a no-warrant government trail camera installed by game wardens within proximity of a feeding station at Punxsutawney. Photo courtesy of Institute for Justice

The Punxsutawney no-warrant camera has precedent in northwest Tennessee’s Benton and Henry counties. Terry Rainwaters (136 acres) and Hunter Hollingsworth (95 acres), own properties that serve as living quarters and farmland (in Rainwaters’ case), as well as hunting ground. In a two-month span between December 2017-January 2018, Rainwaters found two active FWS trail cameras on his property, and Hollingsworth located one FWS trail camera on his private land. Although all three cameras were owned by FWS, the devices were installed by the Tennessee Wildlife Resources Agency (TWRA).

Nelson believes no-warrant cameras in Pennsylvania and Tennessee are representative of similar government surveillance in other states. “The Institute for Justice just started doing these Open Fields cases, and we’ve only done two, but found secret game cameras in both. This is looking like a common practice on the land of private citizens, and it is highly disturbing. How many no-warrant cameras are out there across the country gathering data right now?”

Indeed. How many?

Open the Black Box
What are the odds the state camera placed on Punxsutawney is the sole, no-warrant recording device ever planted on private land by PGC? Slim to none, according to Nelson.

No Trespassing


“This is looking like a common practice on the land of private citizens, and it is highly disturbing,” says Nelson. “How many no-warrant cameras are out there across the country gathering data right now?” Photo courtesy of Institute for Justice

Whether officially, or unofficially, how many individuals at PGC were in the know when the camera was placed? What was the chain of command? The details, Nelson explains, are somewhat of a black box.

“Game wardens in Pennsylvania do not have to log activity or take notes on their entrance and exit when they go on private property. We’re learning that game wardens can come on private land and leave no record or account.”

(PGC declined all questions related to Punxsutawney-Pitch Pine litigation. Additionally, PGC declined to answer all questions related to game warden regulations, process, chain of command, and no-warrant camera policy. PGC referred all Farm Journal questions to the Pennsylvania Office of Attorney General. The Pennsylvania AG did not respond to Farm Journal interview requests.”)

24-7
Briefing before the court is yet to begin in the Punxsutawney-Pitch Pine lawsuit. Ultimately, IJ intends to press the private property issue to Pennsylvania’s Supreme Court.

Daniel Nelson believes no-warrant cameras in Pennsylvania and Tennessee are representative of similar government surveillance in other states. Photo courtesy of Institute for Justice

“We’re looking for more of these cases,” Nelson says. “Other states follow the Open Fields doctrine and we are looking elsewhere, beyond Pennsylvania and Tennessee.”

“Open Fields shows that if you give government an inch, they’ll take a mile. When you lose privacy rights on your own property, there are no limits,” Nelson adds. “Government officials can now install 24-7 hidden cameras, and think nothing of it? That’s where we’re at in this country—but we see this case as an important step in restoring people’s constitutional right to be free from warrantless intrusions on their land.”

(COMMENT: I always thought that "open fields meant that if you could view it from public access and spotted a crime, that was admissible. Not that you could trespass to surveil. Indeed, in our state (CA,) access to private farmland is by permission only due to biosecurity requirements for food sources. The exception would be a game warden in pursuit of a crime already in progress. However, I am not an attorney.)
 

marsh

On TB every waking moment
(On the other hand - Why we can't have warmth, fertilizer and US made things)


09/19/22

Shell’s $6 Billion ‘Cracker’ Plant Part of ‘Ponzi Scheme for Natural Gas,’ Critic Says​

Supporters of Shell’s Pennsylvania Petrochemicals Complex allege it will revive the region’s economy, but critics say it will pollute the environment and harm human health — especially children’s health.

By
Paul K. Haeder

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Along the banks of the Ohio River, some residents of Pennsylvania towns like Beaver, Vanport, Brighton and Monaca are hoping a $6 billion ethane cracker plant in Potter Township will deliver positive economic benefits, including new jobs.

But others who live in the region are skeptical the plant can deliver on those promises. And some say they’re concerned about the plant’s potential to pollute the environment and harm human health.

Once it’s operational this fall, Shell’s Pennsylvania Petrochemicals Complex — the recipient of a $1.6 billion tax break, the largest ever for the state — will become a major player in U.S. petrochemicals, producing 1.6 million tons of polyethylene annually in the form of nurdles, tiny polyethylene pellets used to manufacture plastic goods.

Beaver County Commissioner Jack Manning was quoted in a number of sources as having a “mostly positive” attitude toward Shell’s project, even though people are leaving his county because of it.

Manning spoke earlier this year to Yale Environment 360 of his hope that fracked wet gas, ethane and plastic might restore the region to its former glory days of Big Steel.

Mark Thomas, president of the Pittsburgh Regional Alliance, a nonprofit economic development group, last year told NBC News, “The steel from the [region’s] steel mills not only helped win World War II but built everything from the Empire State Building to the Golden Gate Bridge . . . And everything in between.”

Indeed, some state and federal officials predict a “regional renaissance,” not only for the jobs these plants might bring, “but also for the development that could be an economic multiplier, or catalyst,” officials said, citing a potential boom for the restaurant and hotel industries, commercial transportation and manufacturing.

“It’s not that the industry by itself will rescue all the communities that need investment,” Thomas said. “But it will create enough of a fire that it can be catalytic.”

The oil industry claims gas supplies in the Ohio River region, sometimes referred to as the Appalachian petrochemical hub, could support as many as five large cracker plants like Shell’s 800-acre complex, which is set to open after five years of construction.

However, Eric de Place, one of the authors (with Molly Kiick) of a December 2021 study by the Ohio River Valley Institute on the economic impact of Shell’s large-scale development, said data collected by the study show large-scale development by Shell has failed to produce growth in Beaver County.
de Place told The Defender:

“The supposed revitalization of Beaver County did not happen. Instead, we have people complaining about the noises. There was even a foam release into the river. Complaints about odors. And flaring caused light to be reflected off the clouds. This industry brings with it a ton of environmental problems.”

Along with those “environmental problems” — Shell’s plant, situated 25 miles from Pittsburgh, would emit 2.25 million tons of carbon dioxide a year, wiping out the gains in carbon reduction Pittsburgh planned to achieve by 2030 — critics of the project say it also comes with risks to human health.

Indeed, some community members expressed fear that a petrochemical boom will move Beaver County one step closer to becoming another “cancer alley” — the term environmentalists and industry wonks use to describe an 85-mile stretch of land along the Mississippi River between Baton Rouge and New Orleans, which is home to 150 petrochemical plants and refineries.

Manning, who used to work in the petrochemical industry, rejected those concerns, telling WESA-FM NPR he’s confident Shell’s cracker plant is safe.
Shell’s environmental and regulatory lead, Kimberly Kaal, holds a similar view.

When asked what effect the company’s cracker plant would have on the health of residents in nearby communities she said, “We don’t have an impact.”

But community-based groups disagreed.

“The harm is considerable,” Dr. Edward C. Ketyer, a retired pediatrician and president of Physicians for Social Responsibility Pennsylvania, told The Defender.

“People exposed to the emissions and pollution will get sick, because that’s what happens to people who live near petrochemical facilities like cracker plants!”

When asked about his biggest concerns now that the Shell plant is about to go online, Ketyer said he’s concerned about inversions and ground-level ozone and Shell’s insistence that the plant is non-hazardous.

“I worry about the topography of the area, where air emissions get trapped in the river valley, especially during common temperature inversions — effectively gassing the residents living in proximity and downwind from the plant,” Ketyer said.

In an interview with The Defender, Ketyer, who lives in the region, said:
“This area of the country is a really special place. The people are genuine and take pride in their communities. Even though they’ve been warned, they haven’t processed what they’ve learned.

“When this plant opens — this week or next month — they are in for a big surprise. And they are not going to be happy.”
 

marsh

On TB every waking moment

WEF hosts New York 'climate crisis' confab, featuring BlackRock, Bezos, and CNN

Elite legacy institutions are gathering in New York with the hopes to convince you that "you will own nothing and you will be happy."

Jordan Schachtel
4 hr ago

The World Economic Forum (WEF) has arrived in New York this week to continue its sustained attack on individual and national sovereignty, partnering with major legacy financial and media institutions to wage its campaign.

The WEF kicked off its Sustainable Development Impact Meetings on Monday in New York, hosting a technocratic tyranny themed confab (under the guise of a continuing “climate crisis”) on the sidelines of the annual U.N. General Assembly meetings.

The WEF, which serves as the narratives and ideas shop of the global ruling class, helped to popularize movements such as The Great Reset and the Build Back Better campaign, among other maneuvers designed to “transition” the world to a system of authoritarian “global governance.”

In New York, the WEF’s programming features the “climate crisis” front and center, as WEF President Klaus Schwab and his cantillionaire compatriots clearly understand this movement as the best opportunity to hoover up the remaining rights and property of individuals and nations.

The New York conference agenda will feature 8 panels, and unsurprisingly, all 8 are related to this “climate crisis.”

A video introducing the summit is up on the WEF website, featuring an “all star cast” that includes Al Gore and a BlackRock official.

“Younger generations are demanding a sense of purpose. They want to look at a company and say, ‘I am investing with you all for this reason,’” says BlackRock VP Pamela Chan, who also served as a World Economic Forum Young Global Leader and Global Shaper.

1663634525416.png

The opening panel, titled, “The Geo-Economics of Climate Change,” featured the President and CEO of the Bezos Earth Fund (funded through a $10 billion “donation” from Jeff Bezos), along with Borge Brende, the president of the WEF.

Two panels slated to run Tuesday will feature big names at MSNBC and CNN. MSNBC anchor Stephanie Ruhle will headline the “green transition” and “the future of work panel.” Another panel, titled “tackling disinformation,” will showcase CNN VP Rachel Smolkin.

“Disinformation is not new. Examples of disinformation and so-called fake news campaigns are plentiful,” the introduction to the CNN session reads, “But with increasing fears about the cost of living – exacerbated by the pandemic and the energy crisis – it is now more critical than ever to tackle disinformation head-on.”

On Wednesday, the WEF will host a “Web3's Climate Impact” meeting. Web3 is a term coined by one of the cofounders of Ethereum, a digital asset that was recently reengineered into the foundation for a potential global Central Bank Digital Currency.

1663634395993.png
read more Ethereum becomes WEF coin, and a global CBDC is born

The “Web3” panel features a variety of “crypto” executives who want to “support positive climate action.”

WEF will round out its New York summit with a committee on plastic pollution, featuring a variety of government ministers.

Legacy NGO, finance, and media institutions want to convince you that your best live means that "you will own nothing and you will be happy." To the WEF and their backers, they seek to employ the New York discussions as a springboard to advance that agenda.
 

marsh

On TB every waking moment

Ethereum becomes WEF coin, and a global CBDC is born​

Marketed as a climate friendly alternative, a major digital asset becomes the frontrunner for a global central bank digital currency.

Jordan Schachtel
Sep 15

The people in charge of the Ethereum token, a popular digital asset previously marketed as a decentralized money, decided last night to finalize its transition into what amounts to WEF (World Economic Forum) coin, securing the network’s path on the road to state capture, and perhaps, the birth of the ruling class’s 1.0 version of a global Central Bank Digital Currency.

Completed under the big budget marketing campaign of a “climate friendly” and ESG compliant reshuffle, the Ethereum protocol moved from a proof of work system — which borrowed from Bitcoin’s model of distributed, decentralized computing power (work) for validating the network — to a proof of stake system, which relies on dominant stakeholders to do the same.

There is no longer any “work,” or energy output, required, which is why the ESG and climate hoax crowd has hailed the project as a revolutionary achievement. They seem to miss the fact that ETH now represents a digital fiat currency, as there is no longer a legitimate case for a value proposition attached to it.

The Ethereum Foundation (whose Executive Director serves on the World Economic Forum's Global Blockchain Council) and other “crypto” institutions, knowing full well that they could not create a better free market money than Bitcoin, have been battling behind the scenes for years to become the first movers to regulatory capture, a “prize” that comes to its small network of controlling interests via a massive infusion of global capital.


The small network that controls Ethereum has long had a very cozy relationship with the World Economic Forum and major technocratic statist outfits, and it already relies on companies like JP Morgan and Amazon Web Services to secure its critical infrastructure.

So what makes the WEF crowd and their fellow travelers so hyped about “The Merge”?
1663634978941.png

Unlike Bitcoin’s proof of work system, which provides for robust decentralization and individual security, ETH is now set up so a select few “stakeholders” can determine the outcome of the entire system. The dominant stakeholders can simply get together and manipulate the protocol as they see fit.

But it’s not the private entities that present the greatest threat to liberty and privacy.

This asset is now an easy target for a hostile state or international institutional takeover.

Ethereum stakeholders are an incredibly centralized bunch. They come in the form of registered, *regulated* companies like Lido and Coinbase, organizations that are upfront about the reality that they are subject to complete regulatory and state capture.

1663635065735.png

Should a powerful government want to invalidate the ETH tokens held by Jon Doe, a labeled opponent of the regime, they can simply pressure Coinbase and the gang to blacklist his transactions. The same goes for Jane Doe, who a random bureaucrat could determined is a “criminal,” and force a major stakeholder to change the rules to punish Mrs Doe. Her Ethereum wallet can be blacklisted with the click of a button, rendering her entire wealth in this currency instantly worthless.

For years, globalist, authoritarian legislators, regulators, and central bankers throughout the United States, Europe, and Asia have sought to find a way to lure creative minds into their CBDC projects, with very few in the space showing much interest.

Ethereum’s marketing team, however, has manipulated many smart, naive, good natured, idealist programmers into building what have become very popular financial tools, especially their dollar-pegged (along with other state currencies) assets on the network, such as the USDC coin, which can potentially be weaponized for the future implementation of a global Central Bank Digital Currency (CBDC) system.

Instead of building their own system from the ground up, CBDC advocates in government and quasi-private enterprise may manipulate these volunteer and paid programmers, whose work they can now easily control, to employ a CBDC asset into their respective societies.

The stage has been set. In the digital asset space, it’s Bitcoin versus WEF/ETH coin. Freedom Money versus CBDC tyranny.
 

marsh

On TB every waking moment

[WEF] Sustainable Development Impact Meetings​

19—23 September 2022


Speakers: Adrian Monck, Máximo Torero, Jason Bordoff, Geraldine Matchett, Sam Kass
September 19, 202222:45 - 23:30CEST

Video/panel discussions 53:21 min

or
View: https://www.youtube.com/watch?v=TkxdVyjPUSA
58:21 min

COVID, the Ukraine War and climate change.....finally, they are recognizing energy and fertilizer drive food supply and costs.

^^^^
About the Meetings
Convening at the same time as the United Nations General Assembly, the Sustainable Development Impact Meetings will bring together communities of purpose that integrate business leaders, policy-makers, international and civil society organizations, innovators and entrepreneurs.

In a series of carefully curated impact-driven dialogues, these alliances will use the meetings to advance their work and make concrete progress on the Sustainable Development Goals (SDGs) and to build momentum on other key milestones in the months ahead, including the upcoming United Nations Climate Change Conference (COP27) and the Forum's Annual Meeting in January 2023.

Participation is by invitation only from the respective Forum communities.
^^^
Sustainable Development Impact Meetings 2022 3:05 min

^^^^
SUMMIT AGENDA

Monday, September 19, 2022
SPECIAL AGENDA DIALOGUES

The Geo-Economics of Climate Change​

Speakers: Børge Brende, Andrew Steer, Rania Al-Mashat, Svein Tore Holsether, Ville Skinnari
Watch session

SPECIAL AGENDA DIALOGUES

Food and Energy: Tackling a Global Resource Crisis​

Speakers: Adrian Monck, Máximo Torero, Jason Bordoff, Geraldine Matchett, Sam Kass
Watch session

______
Tuesday, September 20, 2022
SPECIAL AGENDA DIALOGUES

Preparing for the Future of Work​

Speakers: Stephanie Ruhle Hubbard, Sharan Burrow, Allen Blue, Hisayuki Idekoba
14:30 - 15:15CEST


SPECIAL AGENDA DIALOGUES

Tackling Disinformation​

Speakers: Adrian Monck, Rachel Smolkin, Claire Wardle, Melissa Fleming
16:15 - 17:00CEST


Scaling Innovation for People and Planet​

Speakers: John Dutton, Jonas Skattum Svegaarden, Kristin Kagetsu, Henk WJ Ovink, C. Vijayakumar
19:30 - 20:15CEST


This Is What Climate Change Sounds Like​

Speakers: Jane Burston, Garrett Boudinot, Eduardo Del Signore
21:30 - 22:00CEST

___________
Wednesday, September 21, 2022

Web3's Climate Impact​

Speakers: Madeleine Hillyer, Illia Polosukhin, Charles Thomas Pool, Lucia Gallardo, Josh Knauer
18:30 - 19:15CEST

___________
Thursday, September 22, 2022
High-Ambition Coalition Treaty on Plastic Pollution
Speakers: Catherine Boudreau, Espen Barth Eide, Jeanne d'Arc Mujawamariya
17:30 - 18:15CEST


FULL AGENDA HERE: Sustainable Development Impact Meetings
 
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marsh

On TB every waking moment

WEF videos on topics

Stakeholder Capitalism: over 70 companies implement the ESG reporting metrics​


This article is part of: World Economic Forum Annual Meeting
  • For the private sector to drive progress towards the UN Sustainable Development Goals, a common reporting system is essential
  • Over 120 companies have co-designed the Stakeholder Capitalism Metrics – a set of data points that allow companies to consistently report non-financial disclosures
  • More than 150 companies have committed to this measurement approach and over 70 firms have already adopted it

The impact of aligning ESG frameworks.​

Global challenges amplified by the COVID-19 pandemic have made Environmental, Social and Governance (ESG) issues even more pressing for policymakers, boards and executives.

To promote alignment among existing ESG frameworks, the World Economic Forum, with Partners including Deloitte, EY, KPMG and PwC, has identified a set of universal metrics and disclosures – the Stakeholder Capitalism Metrics.

During the Annual Meeting 2022 in May, the Forum announced that 70 companies have already included the Stakeholder Capitalism Metrics in their mainstream reporting materials, including annual reports and sustainability reports.

Drawn from established standards, the Stakeholder Capitalism Metrics promote alignment among existing ESG frameworks to create a set of data points that can be compared between companies, regardless of their industry or region. The metrics include non-financial disclosures centred around four pillars: people, planet, prosperity and principles of governance and include measurements around greenhouse gas emissions, pay equality and board diversity, among others.

View: https://youtu.be/f3ONOcZvC4g
30:48 min

Since January 2021, approximately 150 companies have shown their support for Stakeholder Capitalism Metrics. Firms which have adopted this approach include: Accenture, Bank of America, Eni, Fidelity International, HSBC Holdings, IBM, Mastercard, Nestlé, PayPal, Royal DSM, Salesforce, Schneider Electric, Siemens, Total, UBS, Unilever, Yara International and Zurich Insurance Group, among others. More details about how companies who have signed on to the Stakeholder Capitalism Metrics are taking this opportunity to better measure and manage their ESG impact can be found here and include:
The Adecco Group: global talent solutions and advisory company embedding the ‘People’ metrics at the core of its business
Bank of America: global financial institution driving the adoption of Stakeholder Capitalism Metrics since their establishment
Ginkgo Bioworks: recently listed synthetic biology company shaping the values of the emerging biotech sector
Wipro: global IT, consulting and business process services company embracing reporting as a springboard for improving ESG performance

In parallel, the Forum has engaged with the Impact Management Project to bring together the major standard setters and frameworks. The Forum worked closely with the International Financial Reporting Standards Foundation (IFRS) as a contributing member of their Technical Readiness Working Group.

Through these collaborations, the Forum contributed to the establishment of the International Sustainability Standards Board (ISSB) which was unveiled during the Climate Change Conference COP26. The establishment of the ISSB was welcomed by the Forum’s International Business Council which encouraged regulators and policy makers to incorporate the IFRS’s sustainability disclosure standards to create a global baseline requirement for companies to report on.

What’s the challenge with ESG reporting?​

Measuring the impact companies have on society and our planet is essential if practices are to be managed and improvements are to be made.

However, public and private stakeholders have struggled for many years to make clear progress amongst a number of competing standards, frameworks and initiatives.

Without generally accepted international accounting or reporting standards when it comes to ESG, many companies are working in silos and cannot effectively share best practices or key learnings.

For the private sector to drive progress towards achieving the UN Sustainable Development Goals, a common system of measurement is essential.

"This is the first time that we have publicly seen this breadth of data from global companies across sectors on ESG factors. The Stakeholder Capitalism Metrics are already demonstrating that consistent and comparable ESG reporting can help articulate to stakeholders the impacts of ESG commitments."
— Olivier Schwab, Managing Director, World Economic Forum.

Our approach.​

At the World Economic Forum Annual Meeting 2020 in Davos, the Forum’s International Business Council, comprising 120 of the world’s largest companies, supported efforts to develop a core set of common metrics and disclosures on non-financial factors for their investors and other stakeholders.

In September 2020, following a six-month consultation process with over 200 companies, investors and interested parties, the project published a refined set of 21 core and 34 expanded metrics and disclosures in its report Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation.

Since the launch of the Stakeholder Capitalism Metrics, the Forum has been building a coalition of 150 global companies that are willing to show their commitment to stakeholder capitalism and to reflect these metrics and disclosures in their mainstream reporting.

"The corporate reporting system today isn't delivering what stakeholders want and need, which is why we're strongly supportive of the efforts to drive greater consolidation of standards and reporting frameworks. The Forum's Stakeholder Capitalism initiative is a valuable step in this direction, and we're delighted to contribute to this effort."
— Bob Moritz, Global Chairman, PwC

Our aim is to bring stakeholders together to simplify and harmonize the various approaches to non-financial reporting.
The work is carried out through three interconnected communities:
  • Business Leaders: Advancing the adoption of the Stakeholder Capital Metrics and offering a collective, private-sector voice to the convergence dialogue
  • ESG Practitioners: Leading the ESG strategy for their organization and implementing the recommendations into the reporting materials of their companies
  • ESG Ecosystem: Harmonizing the global dialogue among standards foundations, private standard setters, regulators and international organizations
 

marsh

On TB every waking moment

WEF videos on topics

Ensuring sustainable water management for all by 2030​

The world is not on track to achieving sustainable water management, which is Sustainable Development Goal 6 on water and sanitation. We’re looking to change that.
  • More than 1,000 partners from the private sector, government and civil society are working together through the 2030 Water Resources Group
  • The group has facilitated close to $1 billion of financing for water-related programmes
  • This multistakeholder collaboration aims to ensure availability and sustainable management of water and sanitation for all by 2030

The impact on improving water management.​

The 2030 Water Resources Group (2030 WRG) was launched at the World Economic Forum Annual Meeting 2008 in Davos, Switzerland, to help close the gap between global water demand and supply by 2030.

Since its inception, the Forum-initiated 2030 WRG has grown into a network of more than 1,000 partners from the private sector, government and civil society and operates in 14 countries/states. To date, the 2030 WRG and its network have facilitated close to $1 billion of financing for water-related programmes and demonstrated tangible results in a number of areas, including:
  • Agricultural water efficiency
  • Urban and industrial water management
  • Wastewater treatment
  • Improved livelihoods for farmers.
Through improved water pollution management and reducing the amount of water removed from natural sources, water abstraction, the group has managed to save nearly 1 billion cubic metres of water.

The 2030 WRG is concentrating its efforts on flagship accelerator projects. Initially, 5 of these projects will impact over 7 million people and facilitate over $400 million of financing within 3 years.

One accelerator initiative in Uttar Pradesh, India, is projected to benefit 1 million rice and sugarcane farmers. By mobilizing $100 million in private investments by 2025, the accelerator is working with agribusiness companies, technology players, and financial institutions, among others, to improve farm yields, reduce water and carbon footprints, and increase farmer incomes. The accelerator aims to drive a 10-fold increase in the area under water-efficient technologies such as Direct Seeded Rice (DSR) and drip irrigation, and a 60% reduction in greenhouse gas emissions resulting from flooding of farmers’ fields. It builds on 2030 WRG’s experience in the Indian state of Karnataka, where it mobilized approximately $650 million in financing to implement automated community drip systems over 200,000 hectares of area. This approach has lead to a doubling of the area under irrigation using the same amount of water.

Other examples of water management impact include a collaboration with the German development agency GIZ which aims to advance circular economy solutions. Building on existing partnerships in Uttar Pradesh and Maharasthra, the 2030 WRG is improving the water-use efficiency and reuse of water in the Indian textile sector, and has secured over $1 million to support the adoption of wastewater reuse certificates.

Furthermore, 2030 WRG is leveraging disruptive technologies to upgrade Mongolia’s groundwater monitoring network. Launched in March 2021, artificial Intelligence is enhancing a digital water platform for Ulaanbaatar and the Southern Gobi region, improving the quality of all groundwater level data. These datasets accurately predict the groundwater levels in the city up to six months in advance, enabling authorities in the capital city and the mining hubs to keep up with rapidly growing water demand and make better informed decisions. The Mongolian government is working with 2030 WRG to replicate this tool across the country.

What's the challenge with water management?​

The gap between global water supply and demand is projected to reach 40% by 2030 if current practices continue. In many places, demand is already exceeding sustainable supply, and in others, water scarcity is hindering economic growth. Water insecurity risks triggering a global food crisis, while economic growth and more unpredictable weather patterns increase competition for access to water, impacting citizens, farmers, industries and governments. This means solutions for addressing the global water crisis must engage multiple stakeholders from all sectors of society.

Video on website 3:52 min

Our approach to closing the water gap.​

The 2030 WRG creates a neutral platform where the public and private sectors and civil society can collectively agree on ways to improve water resource management. This approach brings together relevant parties who would not otherwise meet to discuss water issues – stakeholders including heads of government, ministers who oversee energy, finance and/or economic growth, CEOs, and NGOs and development agencies.

How is the World Economic Forum fighting the climate crisis?​


Following its launch in 2008, the 2030 Water Resources Group was incubated at the Forum from 2010 until 2012, when it moved to the International Finance Corporation. Since 2018, it has been hosted within the World Bank’s Water Global Practice, forming the key public-private partnership in the practice’s portfolio of multi-donor trust funds. The Forum served as the secretariat during the 2030 WRG’s incubation phase and continues to chair the steering board. It also holds a seat on the 2030 WRG’s governing council, the highest decision-making body.

The 2030 WRG currently has programmes in 11 countries: Bangladesh, Brazil, Ethiopia, India, Kenya, Mexico, Mongolia, Peru, South Africa, Tanzania and Viet Nam.

By engaging multiple stakeholders in these local programmes, the 2030 WRG is helping get back on track to achieving UN Sustainable Development Goal No. 6, which aims to ensure availability and sustainable management of water and sanitation for all by 2030.

^^^^^
(COMMENT: Water "consumption" by irrigated agriculture is often misunderstood.

1663636687652.pngThe Evapotranspiration (ET) rate equals the total loss of water by evaporation from the leaves and soil surface, plus the transpiration (actual consumption) from plants, over a given area, in 24 hours. ET = inches/day.

Applied Water (AW) is the amount of water "applied" through various methods of irrigation: flood; wheel line sprinkler; pivot wheel; or drip.

"Efficiency," is to apply the least amount of water sufficient for plant consumption and health. Drip has the greatest efficiency, but is used in vegetable row crops and is impractical for field crops like grains. Pivot wheels are very precise in delivery, however the spray is subject to a lot of evaporation.

Flood can be used as storage in the soil profile to deliver subsurface downhill in streams at a later date. It can also recharge aquifers.

What happens to water applied which is excess over plant consumption and evaporation?

1663638833985.png
It can become surface flow that eventually enters a stream, or if nutrient loading is an issue, can be captured and recycled in the irrigation process. (Some land is tiled to prevent percolation into soil below the root zone.)

It can infiltrate subsurface soils and slowly move downhill, becoming filtered and cooled to enter a stream

It can recharge an aquifer. An aquifer is not usually an underground pool. It is the space between sand, rock and other particles where water moves. Water would likely percolate a sandy soil faster than a loamy soil. Groundwater provides the baseflow to streams. For instance, in the county where I lived, the baseflow would go subsurface around July in places of our river as precipitation and storage in the form of snow ceased and groundwater levels dropped. (There was little rain from May to September.)

Anyway, when people blame agriculture for consuming too much water, they usually are making gross assumptions.
 

marsh

On TB every waking moment

Investing in trees: global companies are restoring forests​

The sustainable management of forests by investing in trees could create $230 billion in business opportunities worldwide by 2030.
Image: UNSPLASH/Kazuend

This article is part of: Sustainable Development Impact Summit
Conserving and restoring degraded forest landscapes are essential to combating global climate change and preventing biodiversity loss. Learn how companies are doing their part.
  • Over 30 companies have committed to investing in trees by conserving, restoring, and growing more than 3.6 billion trees in over 60 countries.
  • More than $44 trillion, is potentially threatened by nature loss.
  • The global goal to conserve, restore and grow 1 trillion trees is ambitious but achievable.

The impact of investing in trees.​

Companies from across sectors are working together through the World Economic Forum’s 1t.org initiative, which supports a global movement to support 1 trillion trees by 2030. Since the launch of our global pledge process in September 2021, over 30 companies have committed to conserve, restore and grow more than 3.6 billion trees in over 60 countries. During Davos Agenda 2022, new pledges from Bank of America, Ecopetrol, Fresh Del Monte, and Metlife have been welcomed.

Companies work collaboratively through the 1t.org Corporate Alliance to drive impact by committing to leadership, action, integrity, transparency and learning. The Alliance manages workstreams that allow companies to tackle common challenges jointly, and connects enterprises with 1t.org’s community of innovators, partners and regional chapters.

Companies with a high dependency on forests such as consumer goods companies are adjusting practices within their supply chains to improve business resilience. For example, Nestlé has committed to planting 200 million trees in and around farms where the company sources its ingredients. By 2022, 2.8 million shade trees will be distributed in Côte d’Ivoire and Ghana, providing vital ecosystem services that are beneficial to cocoa farms through shade and improved soil health.

Other companies have limited direct impact on forests through their supply chains. For instance, AstraZeneca has committed to establishing 50 million trees globally by 2025 with 1.7m trees planted to date. Up to 40,000 Indonesian farmers are expected to benefit from agroforestry training and support, and the project is already employing hundreds of local people in roles where they are gaining skills in seedling propagation, sustainable harvesting, organic fertilizer production and pest control. In line with 1t.org’s recommendations, AstraZeneca tracks both environmental and social co-benefits of forest restoration.

View: https://youtu.be/YlefNSFNIzs
49:01 min

What's the challenge?​

Forests are critical to the health of the planet. They sequester carbon, regulate global temperatures and freshwater flows, recharge groundwater, anchor fertile soil and act as flood barriers. They harbor 80% of the world’s terrestrial biodiversity, and are a treasure trove of innovation and a source of subsistence and survival for 350 million people.

Degradation and loss of forests are destabilizing natural systems on a scale unseen in human history. We have lost nearly half of the 6 trillion trees that existed on Earth before the onset of agriculture 12,000 years ago. Each year, despite ardent conservation efforts, we lose around 15 billion more. Deforestation and forest degradation are responsible for 15% of the planet’s greenhouse gas emissions and are primary drivers of species loss and extinction.

The cost to business is increasingly evident. More than half of our annual global GDP, or $44 trillion, is potentially threatened by nature loss because business depends on nature and its services. As trees disappear, the services they offer are undermined, reducing the productivity of soils and natural carbon sinks, diminishing our access to clean water and reducing our resilience to extreme weather events.

View: https://twitter.com/i/status/1455921892485996546
1:00 min

Our Approach to investing in trees.​

Launched at the World Economic Forum Annual Meeting 2020 in support of the UN Decade on Ecosystem Restoration, 1t.org supports the growing momentum around nature-based solutions as a means to help address climate change and nature loss.

1t.org engages the private sector in the 1t.org Corporate Alliance by facilitating a learning environment around ecologically and socially responsible approaches that meet the needs of forests, local communities, and global decarbonization goals. For instance, 1t.org profiles global standards like the IUCN Global Standard on Nature-based Solutions :devilish::poop:to help ensure planning is informed by local knowledge and scientific evidence. When conservation and restoration initiatives move to the implementation stage, the 1t.org Corporate Alliance requires members to report annually on progress to foster accountability.

With rapid advances in monitoring technology, 1t.org is collaborating with a group of partners to connect 1t.org’s reporting process with geospatial platforms and ground-level data collection. For instance, tentree’s veritree uses blockchain to validate successful planting efforts through collecting and sharing ground-level data. Restor informs and connects restoration initiatives, using geospatial data layers.

View: https://twitter.com/i/status/1423585099510161408
.07 min

Further, 1t.org hosts stakeholder engagement in our regions of focus which include: the Amazon Basin, China, India, the Sahel’s Great Green Wall and the United States. Through the 1t.org US Chapter, launched in August 2020, organizations with headquarters in the US or with forest activities in the US have pledged over 50 billion trees from over 70 organizations, including companies, NGOs, cities and states. With regional working groups on relevant topics like forest carbon, the US Chapter demonstrates the power of a global-local multistakeholder approach.:poop::devilish:

The trillion trees movement has continued to evolve and achieve new impact. In March 2022 the 1t.org India Platform was launched to support the country’s commitments under the Paris agreement to restore 26 million hectares of deforested and degraded land by 2030. And at the World Economic Forum Annual Meeting 2022, China’s Special Envoy for Climate Change announced that with the World Economic Forum and China Green Foundation, China will aim to plant and conserve 70 billion trees by 2030 through the newly announced 1t.org China Action.

*****
Comment.

1663640969101.png

This is a diagram showing carbon storage in wood products, clean bioenergy and young forests.

1663643087903.png

Carbon release and sequestration issues are not the same in the arid west of the US where wildfire is prevalent. One size fits all solutions such as planting trees may not address core issues.

1663643916369.png1663644079621.png
Source https://ww3.arb.ca.gov/cc/inventory/pubs/ca_ghg_wildfire_forestmanagement.pdf

1663644428260.jpeg

1663644536992.jpeg

Every management action has a cost and benefit. Blanket, emotional one size fits all solutions for one issue may have boomerang costs.)
 

marsh

On TB every waking moment

Tackling the climate crisis with innovative green technologies​

  • More than 50 companies have joined the First Movers Coalition which aims to decarbonize the heavy industry and long-distance transport sectors responsible for 30% of global emissions.
  • The companies have sent the largest market signal in history to commercialize emerging clean technologies by making unprecedented advance purchase commitments by 2030.
  • Denmark, India, Italy, Japan, Norway, Singapore, Sweden and the United Kingdom have joined the US as government partners to create early markets for clean technologies through policy measures and private sector engagement.

The impact of investing in innovative green technologies.​

The World Economic Forum is partnering with the US Special Presidential Envoy for Climate John Kerry and over 50 global businesses to invest in innovative green technologies. These financing commitments will ensure new technologies are available for scale-up by 2030 and make a critical contribution to achieving net-zero emissions by 2050.

Since it was launched at COP26, the First Movers Coalition has brought together global companies with supply chains across carbon-intensive sectors. They range from major consumer goods firms that ship, truck and fly their products, to renewable energy companies that use steel to build wind turbines.

The companies – whose collective market value exceeds $8.5 trillion across five continents – have sent the largest market signal in history to commercialize emerging clean technologies by making advance purchase commitments by 2030 for near-zero carbon steel, aluminium, shipping, trucking, and aviation as well as negative emissions through advanced carbon dioxide removal technologies.

View: https://youtu.be/iXYUCeOBI6Y
1:52 min

During the World Economic Forum Annual Meeting 2022 in Davos, First Movers Coalition members Alphabet, Microsoft and Salesforce collectively committed $500 million to carbon dioxide removal (CDR). Microsoft will further serve as an expert partner by sharing lessons from its carbon removal auctions and the Boston Consulting Group committed to remove 100,000 tonnes of carbon by 2030.

Have you read?​

First Movers Coalition: how to create demand for clean technology in hard-to-abate sectors

Through the Coalition, these companies collaborate with other private sector members such as A.P. Møller – Mærsk, Amazon, Apple, Bank of America, FedEx, National Grid, Ford Motor Company, Mahindra, SSAB Swedish Steel, Trafigura, Vattenfall, Volvo Group, Yara International, Western Digital and many more.

Denmark, India, Italy, Japan, Norway, Singapore, Sweden and the United Kingdom have joined the US as government partners to create early markets for clean technologies through policy measures and private sector engagement.

“The coalition’s members are truly the ‘First Movers’ who are focused on scaling disruptive innovations that pave the way for long-term transformation rather than the lower-hanging fruit of short-term process efficiency gains.”
— Børge Brende, President of the World Economic Forum

The challenge with using technology to combat climate crisis.​

If average global temperatures reach 1.5ºC above pre-industrial levels, we can expect the Arctic Ocean to have one ice-free summer every 100 years. But if warming rises to 2ºC, ice-free summers in the Arctic could happen every 10 years according to the Intergovernmental Panel on Climate Change (IPCC).
Put differently, the risks to our climate of a rise in global temperatures of 2ºC over pre-industrial levels could make life unbearable for millions of people. The critical climate target of 1.5ºC can only be reached if new decarbonizing technologies are developed at speed.

However, the technologies required to clean up the most polluting sectors – such as hydrogen to reduce iron ore, green ammonia to fuel ships, or carbon capture and storage – are either not available or not yet commercially viable.

https://twitter.com/i/broadcasts/1rmxPgerWkVJN 34:21 min

Our approach to accelerating innovative climate technology.​

The First Movers Coalition is collaborating with leading organizations and companies supplying clean energy technologies to pull emerging technologies into the marketplace.

For hard to abate sectors to decarbonize at the speed needed to keep the planet on a 1.5-degree pathway, they require low-carbon technologies that are not yet commercially competitive. To jump-start the market, the coalition’s members commit in advance to purchasing a proportion of the industrial materials and long-distance transportation they need from suppliers using near-zero or zero-carbon solutions, despite the premium cost.

If sufficient numbers of global companies commit certain proportions of their forward purchasing to green technologies in this decade, this will create a tipping point that accelerates their affordability and drives long-term, net-zero transformation across industrial value chains.

“The coalition has achieved scale across the world’s leading companies and support from committed governments around the world to tackle the hardest challenge of the climate crisis: reducing the emissions from the sectors where we don’t yet have the toolkit to replace unabated fossil fuels and swiftly reach net-zero emissions.”
— US Special Presidential Envoy for Climate John Kerry

The coalition will provide a platform for a wide range of companies to make these purchasing commitments during this decade and send a clear demand signal for the technologies needed for net-zero emissions by 2050. The commitments will be technology-neutral, but they will be stringent enough to target solutions with the potential to completely decarbonize these sectors rather than only partially reducing emissions through efficiency gains or other incremental approaches.

The coalition has committed to delivering impact in six sectors by 2030:
  • Carbon dioxide removal
  • Aluminium
  • Aviation
  • Shipping
  • Trucking
  • Steel
For instance, Ball Corporation, Ford Motor Company, Novelis, Trafigura and Volvo Group have committed that 10% of primary aluminium purchases by 2030 will have near-zero carbon emissions. This can only be achieved by producers who use advanced technologies that are not yet commercially available.

The coalition will also connect supply and demand players and leverage the networks of companies and investors working with the Mission Possible Partnership and other related initiatives. These stakeholders will include suppliers capable of demonstrating and scaling the technologies needed for coalition members to meet their purchase commitments, as well as investors that bring the capability to invest in demonstration projects and new facilities.
 

marsh

On TB every waking moment

Fuelling sustainable aviation for the long haul​

  • Sustainable aviation fuel has the potential to significantly reduce carbon emissions for a greener future.
  • The Clean Skies for Tomorrow Coalition provides a platform for industry stakeholders to align on a transition to sustainable aviation fuel.
  • More than 100 companies are working together to power global aviation with 10% sustainable aviation fuel by 2030.

The impact of sustainable aviation fuel.

A return flight from London to New York emits more carbon emissions than the average person in 56 countries would produce in an entire year. As airlines search for ways to reduce their impact on climate, 100% sustainable aviation fuel (SAF) made from renewable sources can help them cut emissions by up to 80%. Airlines are already using SAF for passenger flights in the US and some are testing SAF in large aircraft in Europe.

Top executives and government leaders need to align on a meaningful pathway to accelerate aviation’s decarbonization for more companies to adopt SAF. The Clean Skies for Tomorrow Coalition is a global initiative to facilitate the transition to net-zero flying by 2050. Led by the World Economic Forum, Rocky Mountain Institute, Energy Transitions Commission and Mission Possible Partnership, this public-private collaboration is helping the aviation sector move to net-zero emissions by accelerating the deployment of sustainable aviation fuel.

At the World Economic Forum Sustainable Development Impact Summit 2021, the coalition of more than 100 companies released its milestone 2030 Ambition Statement to power global aviation with 10% SAF by 2030.
A significant move to put the aviation industry on the path to net-zero emissions, ambition statement signatories include American Airlines, Qatar Airways, Airports Council International, Boeing, Shell, bp, and many more.

View: https://youtu.be/0B7roSIl4CI
35:13 min

What's the challenge?

Climate change is one of the most urgent challenges today and requires collective action. While the social and economic benefits of air travel are undeniable, aviation accounts for 2-3% of global CO2 emissions annually.

As the industry is forecast to continue to grow following the COVID-19 pandemic, its share of global CO2 may increase even further – especially as other sectors decarbonize in the coming years. Therefore, decisive climate action from aviation is crucial to delivering benefits to society in an environmentally sustainable way.

Sustainable aviation fuel – a cleaner fuel powered by sources ranging from agricultural waste to carbon captured from the air – is a viable industry solution in energy transition efforts by 2030 and beyond. It is fully compatible with existing aircraft and fuelling infrastructure and has powered more than 250,000 commercial flights. But due to limited production capacity and the high price gap with traditional fossil fuels, sustainable aviation fuel comprises less than 0.1% of all jet fuel used. Regulation and fiscal policies are required to help bridge this cost differential, drive demand, and generate greater certainty for investors and financers.

View: https://twitter.com/i/status/1478048611741151241
1:35 min

Our approach to sustainable aviation fuel.

Established in 2019, the Clean Skies for Tomorrow Coalition is committed to achieving a net-zero emissions aviation sector by mid-century. To reach this goal signatory companies, including airlines, airports, fuel suppliers, and other industry stakeholders, are championing specific initiatives such as a mechanism for aggregating demand for carbon-neutral flying, co-investment vehicles, and value-chain industry blueprints.

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View: https://youtu.be/o-PD0-tVccY?list=PL3lj9mBd_dM9HzaIURr4Xy3c4HKdrO5TK
2:36 min

Achieving the target of 10% SAF by 2030 would mean:
  • Producing 30 million tonnes of SAF
  • Saving 60 million tonnes of CO2 per year
  • Building at least 300 SAF plants
  • Requiring $250 billion in investments in the next decade
  • Providing 300,000 green jobs
The Clean Skies for Tomorrow Coalition is charting the path towards a more sustainable aviation industry by co-designing effective policies worldwide. For example, the SAF policy toolkit supports governments as they develop and implement national SAF strategies.

The coalition has also published a joint proposal to accelerate SAF deployment to inform the European Union’s ReFuelEU Aviation initiative and support the UK Government. The guidelines for an effective SAF blending mandate complement these efforts by building on the analysis and recommendations from the first policy report to ramp up sustainable aviation fuel production in Europe.

In India, the Clean Skies for Tomorrow Coalition has established the goal to transport 100 million domestic passengers on at least a 10% SAF blend by 2030 and developed a blueprint for deploying SAF. The report proposes key methods, cost-sharing models, and economic and environmental benefits to accelerate the SAF industry in India.

"As air travel recovers from the COVID-19 pandemic, the aviation sector we rebuild must be a more sustainable one. SAF is one critical enabler in the sector’s decarbonization effort."
— S. Iswaran, Minister for Transport and Minister-in-charge of Trade Relations of Singapore

Sustainable aviation fuel presents important market opportunities for capital providers, with the global volume estimated to reach $600 billion by 2050.

Therefore, the transition to SAF requires shifting investment into innovative financing models for new green tech and mobilizing the purchase of SAF by companies and travellers who will cover the additional cost of flying using sustainable fuels for their corporate travel.

The Forum has contributed to this shift through the ‘Flying Sustainably for the Annual Meeting 2022’ campaign, which encouraged Partners to purchase SAF to reduce their overall emissions associated with the event in Davos. This resulted in 53 tons of CO2 emissions being avoided, which is equivalent to the CO2 removed by almost 1,000 tree seedlings grown over 10 years. The Forum offsets all emissions to its Annual Meeting and will continue to encourage Partners to purchase SAF going forward.

The Clean Skies for Tomorrow Coalition also developed the SAF certificate system, an accounting tool created to boost sustainable aviation fuel demand. Several global companies implementing aggressive decarbonization strategies have already completed significant transactions with airlines to purchase SAF for their corporate travel. This includes Forum partners Deloitte, Deutsche PostDHL, Microsoft, Visa and Salesforce.

View: https://youtu.be/ka-nL1Fuadg
58:35 min
 

marsh

On TB every waking moment

Technology is revolutionizing Ghana’s fight against plastic pollution​

Drains, illegal dumps and beaches are choked with discarded bottles and plastic packaging, but waste pickers are making an impact. A new multistakeholder pilot aims to increase visibility within the supply chain and bring benefits to people, companies and the environment.

The impact.​

The race to recycle is gaining momentum in Ghana.
Throughout the West African country, informal workers known as waste pickers clean up communities and natural areas. Their work is vital, but the country has big plans to improve conditions in the industry and modernize. A pilot project between the World Economic Forum, the Global Plastic Action Partnership and technology giant SAP is creating a cohesive group of more than 2,000 waste pickers and measuring the quantities and types of plastic that they collect. This data is then analysed alongside the prices that are paid throughout the value chain by buyers in Ghana and internationally.

By bringing transparency to the value chain, the project will benefit all stakeholders. Socially responsible companies will pay a premium for social plastics, which will benefit the end consumer and protect communities and the environment. Waste pickers themselves will also benefit by earning fairer wages. Policy-makers will also use this data to decide where to build recycling plants.

Drains, illegal dumps and beaches are choked with discarded bottles and plastic packaging, but waste pickers are making an impact. A new multistakeholder pilot aims to increase visibility within the supply chain and bring benefits to people, companies and the environment.

View: https://youtu.be/S-eN6hnePkQ
1:04:36 min

What’s the challenge?​

A total of 8 million tonnes of plastic waste leaks into the ocean each year. By 2050 there will be more plastic than fish in the ocean if we do not take urgent, collective action.

Ghana generates approximately 1.1 million tonnes of plastic waste per year and approximately 5% of that is collected for recycling.

The system of waste pickers operates “below the radar” without formalized standards and processes. This puts stakeholders throughout the value chain at risk and also limits the way in which larger institutions can engage.

Our approach.​

The Global Plastic Action Partnership (GPAP) harnesses the convening power of the World Economic Forum to bring together government, business and civil society to translate commitments into meaningful action at global and national levels. Public-private partnerships to advance national efforts to fight plastic pollution are now active in Indonesia, Ghana, Nigeria and Viet Nam.

In October 2019, the Government of Ghana officially became the first African partner of GPAP. During the launch, President Nana Akufo-Addo pledged to achieve zero plastic leakage into Ghana’s ocean and waterways, saying: “Ghana, after this process, will make best efforts to be a model for other countries in the region and on the continent on issues related to plastic management.”

The Forum played an instrumental role in bringing SAP and Ghana NPAP together. This relationship led to further connections throughout the plastics chain, including local waste picker organizations in Ghana; micro, small and medium-sized enterprises; multinational companies and local authorities. Together, this group is co-designing a software solution that connects waste pickers with potential buyers and recyclers.

GPAP is also supporting the mobilization of $77 million towards the establishment of a Circular Economy Framework in Ghana, thanks to collaboration with the Global Environment Facility, United Nations Industrial Development Organization UNIDO and the Government of Ghana.
 

marsh

On TB every waking moment

DHS Intel Report Indicates Venezuela Emptying Prisons, Sending Violent Criminals To US Border

MONDAY, SEP 19, 2022 - 05:40 PM

Since President Biden assumed office nearly two years ago, his 'open border' policies have allowed 4.9 million illegal aliens, or about the entire population of Ireland, to cross into the US.

America is facing a historic crisis at its southern border. White House officials could care less and have welcomed illegals (though not welcomed in white liberal elite towns, such as Martha's Vineyard).

US Border Czar, Vice President Kamala Harris, has yet to visit the border while Democrats downplay the invasion of illegals.

The endless flow of illegal aliens has concerned the Department of Homeland Security detailed in an intelligence report received by the Border Patrol (obtained by Breitbart), which specifies the Venezuelan government, under the leadership of Nicolas Maduro, is releasing violent criminals from jail and embedding them within migrant caravans headed to the US-Mexico border.

Here's more from Breitbart's story, citing the intelligence report:

The intelligence report warns agents the freed prisoners have been seen within migrant caravans traveling from Tapachula, Mexico toward the U.S.-Mexico border as recently as July. The source, not authorized to speak to the media, told Breitbart Texas the move is reminiscent of a similar action taken by Cuban dictator Fidel Castro during the Mariel boat lift in the 1980s.

The report does not state whether the released prison inmates were traveling as a cohesive group but does state it was commonly shared knowledge among migrants traveling to the United States within a caravan in July that many of the Venezuelan migrants in the group were convicts and included hardened criminals.

The report does not specify that the release of the convicts — understanding they would head to the United States — could be a purposeful geopolitical move specifically intended to impact US national security. Another information gap cited in the report acknowledges the unknown role the Bolivarian National Intelligence Service (SEBIN), Venezuela's equivalent to the CIA, may have played in the deliberate releases.

The source says the task of identifying Venezuelans who have criminal records in their home country is nearly impossible. Of the thousands of Venezuelan migrants surrendering along the U.S.-Mexico border daily, most, according to the source, are being released into the United States. Without effective diplomatic relations with Venezuela, the source says access to criminal databases in that country simply does not exist.

The source says it is unknown how many have already been released into the interior of the United States to pursue asylum.

Most of these migrants come from Mexico, Guatemala, Honduras, El Salvador, and Venezuela, but growing numbers now come from all over the world. Many of these illegals cross the border with little skills and almost no personal wealth to better the US but act as a massive burden.

Congressman Troy Nehls (R-TX-22) appears to have confirmed the report in a tweet:

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"What we are witnessing is the Third Worldization of the USA," Pat Buchanan recently opined.
 

marsh

On TB every waking moment

Migrant Arrests Top 2 Million For The First Time Ever After Kamala Declares 'Border Secure'

MONDAY, SEP 19, 2022 - 04:20 PM

Just one week after VP Kamala Harris declared that the southern US border is "secure," the number of illegal migrants arrested topped 2 million in just 11 months - an all-time record.

First, the woman who's one heartbeat away from the Oval Office.

View: https://twitter.com/i/status/1569083622010884097
1:28 min

The adults are back in charge?

According to the latest figures from US Customs and Border Protection, 203,598 migrants were detained in August, putting the total number of illegals arrested at 2.3 million for the 2022 fiscal year which ends Sept. 30.

And those are just the ones who were caught.

The historic migration wave this year has been driven by soaring numbers of border-crossers from outside Mexico and Central America, the two largest traditional sources of illegal entries. Migrants from Venezuela, Nicaragua and Cuba accounted for more than one-third of those taken into custody along the southern border last month, according to Customs and Border Protection, a 175 percent increase over August 2021. -WaPo

"Failing communist regimes in Venezuela, Nicaragua, and Cuba are driving a new wave of migration across the Western Hemisphere, including the recent increase in encounters at the southwest U.S. border," said CBP Commissioner Chris Magnus, in a politically charged statement. "Those fleeing repressive regimes pose significant challenges for processing and removal."

If only some type of barrier, or 'wall' could be erected to stop massive illegal inflows of migrants?
 

marsh

On TB every waking moment

Americans Drowning In Long-Term Credit Card Debt: Survey

MONDAY, SEP 19, 2022 - 06:20 PM

In June we reported that consumer credit - particular revolving credit - was through the roof, as tapped-out consumers relied on credit cards to make ends meet. This has only gotten worse..

Acccording to an Aug. 30 report from the Federal Reserve Bank of New York, credit card balances increased by $46 billion from last year, becoming the second-biggest source of overall debt last quarter.



While both student and car loans hit all time new highs at the end of the 1st quarter.



And so it comes as no surprise from Bloomberg that more US consumers are saddled with credit card debt for longer periods of time. According to a survey by CreditCards.com released on Monday, 60% of credit card debtors have been holding this type of debt for at least a year, up 50% from a year ago, while those holding debt for over two years is up 40%, from 32%, according to the online credit card marketplace.



And while total credit-card balances remain slightly lower than pre-pandemic levels, inflation and rising interest rates are taking a toll on the already-stretched finances of US households.

About a quarter of respondents said day-to-day expenses are the primary reason why they carry a balance. Almost half cite an emergency or unexpected expense, including medical bills and home or car repair.

The Federal Reserve is likely to raise interest rates for the fifth time this year next week. Credit-card rates are typically directly tied to the Fed Funds rate, and their increase along with a softening economy may lead to higher delinquencies.

Total consumer debt rose $23.8 billion in July to a record $4.64 trillion, according to data from the Federal Reserve. -Bloomberg


The Fed's figures include credit card and auto debt, as well as student loans, but does not factor in mortgage debt.
 

marsh

On TB every waking moment

Russia Publicizes Beijing's Supportive Statement, While China's State Media Keeps Silent

MONDAY, SEP 19, 2022 - 08:00 PM
Authored by Jessica Mao via The Epoch Times,

A top Chinese official has expressed support for Russia’s war in Ukraine during his visit to Moscow, apparently believing it was a closed-door meeting. But the Kremlin released the footage to make his remarks known to the entire world.

Li Zhanshu, the third most important Chinese Communist Party (CCP) figure and a member of the Standing Committee of the Politburo, visited Russia from Sept. 7 to 10 before Chinese leader Xi Jinping met with Russian President Vladimir Putin in Uzbekistan on Sept. 15.

Li met with Putin in Vladivostok and later with Vyacheslav Volodin, chairman of the State Duma, and Valentina Matviyenko, chairwoman of the Federation Council, in Moscow, along with leaders of the five political parties of the State Duma.

His low-profile visit to Russia did not attract much attention until a video went viral on social media platforms such as Twitter, causing public outcry.

“With the United States and NATO now at Russia’s doorstep, it has become an issue concerning Russia’s national security and the lives of its people,” Li claimed.

“Under such circumstances, Russia takes some measures that it deems appropriate, and China fully understands the necessity of all the measures taken by Russia aimed at protecting its key interests. We are providing our assistance.”

As Li is also a close ally of Xi, his statement is considered to represent the CCP leader’s stance. It is widely believed that this is Beijing’s strongest and most explicit statement supporting Moscow.

Li’s remarks were first published in a text on the official website of the State Duma on Sept. 9. Shortly afterward, footage with the mark “Duma” in Russian was released.

In contrast, Chinese state media kept mum on Li’s remarks supporting Russia’s war in Ukraine and merely reported that Li “thanked Russia for its firm support to China on the Taiwan issue.”

Analysts believe that Moscow deliberately publicized Li’s remarks ahead of the Xi-Putin meeting in a bid to pressure the CCP to voice its support of Russia, thus putting Beijing in an embarrassing position.

Seeing Through the China-Russia Alliance
Yang Si, a Japan-based current affairs commentator, told The Epoch Times on Sept. 16 that Beijing and Moscow are exploiting one another.

“There is no doubt that the CCP is supporting Russia, but it has never said so publicly,” Yang said.

“Li’s statement this time was not a public statement either; it was behind closed doors. I guess Li did not expect Russia to make it public. Russia probably thought written reports were not enough, so they directly released the original video, which is tantamount to forcing the CCP to openly state its support for Russia’s war in Ukraine. Russia and the CCP are two gang groups. They have no common beliefs, nor do they have any morality. In short, they just exploit each other.”

Current affairs commentator Lu Tianming shared similar views.

“The CCP has done a lot of things behind the scenes, but now they are all exposed. The Russian army invaded Ukraine, and the CCP’s support for this war will naturally make other nations believe that the CCP may take similar actions against Taiwan. They will be on high alert watching the CCP’s actions in the Taiwan Strait,” Lu said.

She believes some countries on the sidelines will see the CCP clearly through Li’s remarks. “It will accelerate the pace of a global rejection and deterrence of the CCP,” she said.

US and Europe Pass Bills to Support Taiwan
China expert Chen Pokong said in a YouTube program on Sept. 16 that the exposure of Li’s statement would help the United States and the European Union pass bills to support Taiwan and fight against the CCP.

On Sept. 15, the European Parliament overwhelmingly passed a resolution denouncing China for continued military action and provocations against Taiwan and calling for the EU to “assume a stronger role when it comes to the situation in the Taiwan Strait and the Indo-Pacific as a whole.”

The resolution, jointly sponsored by five major parties in the European Parliament, contains 26 propositions. It commended the Taiwanese government and political leaders for their prudent and responsible response to the CCP’s provocative actions. It urged the EU to strengthen its political engagement with Taiwan. Furthermore, the European Parliament will continue to send representatives to Taiwan on official visits to deter the CCP’s ambition to attack Taiwan.

The European Parliament also asked the EU’s European External Action Service (EEAS) to begin preparations for negotiations on a mutually beneficial supply chain resilience agreement with Taiwan as soon as possible to strengthen Taiwan’s “silicon shield” —referring to the chip industry—and to safeguard Taiwan’s security.

The European Parliament also believes that the EU should seek joint investment cooperation with Taiwan’s New Southbound program to counter the CCP’s global gateways—the Belt and Road Initiative (BRI, also known as “One Belt, One Road”).

In addition, the European Parliament suggests that the European Commission change the name of the European Economic and Trade Office (ETO) in Taiwan to reflect the broader relationship between the two sides.

Before that, the Senate Foreign Relations Committee of the U.S. Congress passed the Taiwan Policy Act of 2022 on Sept. 14. The bill is considered the most comprehensive reorganization of U.S. policy toward Taiwan since the Taiwan Relations Act of 1979.

It proposes $4.5 billion in military assistance to Taiwan over four years and an increase of $2 billion in the fifth year. The bill also includes a congressional proposal to rename the Taiwan Representative Office to the United States and designate Taiwan as a “major non-NATO ally.”

The bill also proposes that the United States establish “a robust sanctions regime to deter further PRC [People’s Republic of China] aggression against Taiwan,” along with detailed sanctions plans.
 

marsh

On TB every waking moment

DOJ Internal Misconduct Shrouded In Veil Of Secrecy

MONDAY, SEP 19, 2022 - 07:20 PM

Authored by Eric Felten via RealClear Wire,

Department of Justice Inspector General Michael Horowitz was busy this week, releasing three separate reports on Monday alone. Each detailed misconduct by a different assistant United States attorney: One finds a federal lawyer trying to use his position to avoid a drunk driving charge; another finds a government attorney getting drunk and physically belligerent at a meeting with foreign officials; the third, and most disturbing, finds an assistant U.S. attorney exposing his genitals “in a public place,” and sexually assaulting a “civilian” on a date.

Courtroom One Gavel Joe Gratz
Who were these federal prosecutors? The summary reports don’t say. A spokesperson for the Office of the Inspector General told RealClearPolitics that it could not release their names. RCP has filed a Freedom of Information Act request asking for their identities.

The Justice Department doesn’t hesitate to publicize the names of those it accuses of wrongdoing. At least when those accused do not work for Justice. Last Friday, for example, the DOJ office of Public Affairs issued a press release announcing that the department had filed a discrimination lawsuit against the owner and managers of a Milwaukee rental property. Though a court has yet to rule against those accused of harassing a gay, disabled tenant, the DOJ press release named them.

Compare that with “Investigative Summary” number 22-104, in which the inspector general determined that an assistant United States attorney was driving under the influence when he (or she) was pulled over by police. The investigation found that the prosecutor had tried to pull rank on the local cops, “referring to the AUSA’s title in an attempt to influence local police officers.” When that didn’t work, the drunk federal lawyer shouted obscenities and kicked the door of the police car.

These were violations of federal ethics regulations according to the IG, who found the assistant U.S. attorney’s actions also ran afoul of the standards of conduct required of federal employees, including that they “not engage in criminal, infamous, dishonest, immoral, or notoriously disgraceful conduct, or other conduct prejudicial to the Government.” The AUSA remains unnamed.

Also anonymous is the federal prosecutor whose belligerent behavior is detailed in the OIG’s Investigative Summary number 22-105. The inspector general’s office states it “substantiated” an allegation that an AUSA behaved “unprofessionally” while detailed to a foreign country. The AUSA was accused of “inappropriate physical contact” with a foreign local working for the State Department: The IG found that the attorney, inebriated, grabbed the Foreign Service National by the chin and aggressively forced the State Department employee to pay attention to the AUSA. When the inspector general asked about this behavior, the IG was told about the many other official events at which the AUSA was intoxicated. On those occasions, the prosecutor was in the habit of telling foreign government officials what the lawyer thought of them, what the IG described as “offensive and demeaning remarks.”

Investigative Summary number 22-103 describes behavior more serious. In that investigation, the Justice Department IG found that, on a date with a “civilian,” an AUSA’s “genitals were exposed in public.” According to the inspector general’s report on the incident, “the AUSA forced the civilian’s hand to touch the AUSA’s genitals.” This was not only a violation of federal regulations governing off-duty conduct, the OIG found it to be against state law. And yet, “Criminal prosecution of the AUSA was declined.”

During the course of the investigation, the Office of the Inspector General interviewed the prosecutor and found that he “lacked candor in discussing this incident.” That’s the Inspector General’s way of saying he lied. Again, however, the DOJ inspector general declined to provide the name of the AUSA. As for the DOJ itself, “Criminal prosecution of the AUSA was declined.”

Often when Justice chooses not to prosecute (or even identify) an employee of the department – including those who work for the FBI, the Bureau of Prisons, or another element of the department – it is because the employee has resigned or retired.

Last September, DOJ Inspector General Michael Horowitz released a report criticizing the FBI’s practice of locking away the findings of internal investigations when an agent or official accused of misconduct packed his or her desk “prior to or during the adjudication process.” The names of those accused of misconduct are kept secret even when the allegations have been fully investigated and the FBI’s Office of Professional Responsibility “could make a substantiation decision based on the available evidence.” According to the inspector general, “this practice fails to hold accountable former FBI employees who separate while under investigation.”

That policy may protect federal employees who abuse their office, but it doesn’t do any favors for the FBI agent falsely accused of misconduct. Failing to “fully document an adjudication,” Horowitz said last September, “fails to clear former employees whose misconduct allegations were unsubstantiated.”

The IG’s recommendation notwithstanding, the Justice Department continues to shroud wrongdoing by its own in a system of secrecy. It is a policy that does little to restore confidence in a department viewed by many Americans with suspicion.
 

Countrymouse

Country exile in the city

John Phipps: Can Scientists Actually Make it Rain? The Argument Over Cloud Seeding​

Video on website 3:11 min

By U.S. FARM REPORT September 19, 2022

A different question about weather from Derek Jones in Saginaw, Michigan on the show:

“I wanted to know does cloud seeding really work? And if it does why aren't some, if not all of these drought-ridden states at least attempting to try anything, if it will work. Even if it had a small chance of working. Dead crops.

Rivers and lakes drying up, animals dying from heat exhaustion. It's clear climate change is only getting worse with each passing year, and if man is a direct cause of these changes then man can be part of the solution.”

Cloud seeding was first conceived in the late 1800’s but didn’t get any traction until we had planes to try it out. Basically, various types of compounds are sprayed or shot into clouds to provide nuclei around which water can condense, leading to particles large enough to fall to the ground. I was going to show a bunch of horrifying dry rivers, but I’ll save that for another time.

However, the rapidly worsening water supply crisis has done just what you suggested – prompted governments to try remedies with uncertain success rates. Which is about the best you can say for cloud seeding.

Despite the fact that China and other countries are trying more cloud seeding – mostly with silver iodide – has not produced much evidence it works. It’s just too hard to establish a control experiment to compare to. That may change with new methods of measuring cloud droplet size tried last year.

Meager evidence from that experiment showed statistically significant rainfall of 6 millimeters or about ¼”. That is not practically significant however, as corn farmers found out this summer. Indeed, the cost of seeding if it does work makes it more likely to be used to induce snow for the ski industry, which, looking at lift tickets, can well afford it.

Outside China, there is no established seeding industry, just a few operations in North Dakota and other Plains states. I am very skeptical whether it will ever be practical or even proven technology but if I’m wrong, prepare for a burgeoning climate litigation industry to be putting up billboards to attract those who feel, their rain was stolen by a neighboring area.

Finally whenever we reach the point of thinking we GOT to try something even if it has almost no chance of working, prepare to be fleeced.
Of course it is. It's called Stratospheric Geoengineering, and has been around since the early 1990's.

However, though it was created to "cool" the earth by reflecting back all that nasty heat from the sun into space to prevent "global warming," its creators discovered an..........unexpected..............side effect.

It DRIED OUT the atmosphere.

To the point that entire frontal systems, laden with rain, if they approached an area recently treated with the SG chemicals--would simply dissipate.

In truth, it isn't that we "need" to seed the clouds to make it rain.

We need to stop seeding--or spraying--the atmosphere with these anti-global-warming chemicals that dry OUT the atmosphere and dissipate rain clouds.

Then the unusual droughts we have seen this year--which are man-made--would soon mitigate and go back to their previous more cyclical pattern.

In places where they DO stop spraying after an extended time of doing so, often extreme floods are experienced, almost as if nature is trying to "catch up" to where it should have been in the redistribution of moisture / humidity--had man not interfered.

In a way, they know what they are doing--and like an insane Dr. Frankenstein, keep on applying more and more of their "experimental" treatment to "bring to life" their dream of the "new" environment they're creating.

In another way, I personally think they're playing with forces whose complexities they have not begun to grasp--and it will backfire on them, spectacularly. I would not be surprised if their tinkering with the global atmosphere, instead of "cooling" it, doesn't actually suddenly have a "boomerang" effect of causing intense and geometrically increasing warming of the earth--such that it will magnify and multiply the effect of the sun's rays instead of shield us from them.

I can't claim credit for that idea---it comes from Revelation 16:8.
 

marsh

On TB every waking moment

Biden Declares The COVID Pandemic "Is Over" Despite Continued Use In Policies & Programs

MONDAY, SEP 19, 2022 - 05:32 AM

About a year and a half too late to the game, Joe Biden finally admitted in a Sunday broadcast interview with 60 Minutes that the covid pandemic is over, stating:

“We still have a problem with COVID. We’re still doing a lotta work on it. It’s — but the pandemic is over. if you notice, no one’s wearing masks. Everybody seems to be in pretty good shape. And so I think it’s changing. And I think this is a perfect example of it.”

Apparently, in the ever teetering mind of Joe Biden the prevalence of masks was a measure of the prevalence of covid. Of course, this all depends on where in the US or the world you have been living. In red states, masks have been gone for around two years with the majority of people not wearing them. And despite the predictions (and fantasies) of many on the political left, conservatives were not dropping dead in the streets; far from it.

In fact, red states that ended shutdowns and mandates well ahead of blue states enjoyed far superior economic recovery including superior job and business recovery numbers, and virtually no difference in terms of death and infection rates occurred. In fact, studies now show that there was little to no positive effect made by the covid lockdowns and the usefulness of mask mandates is also in question.

Furthermore, infection and fatality rates for covid began to drop long before the covid mRNA vaccines were introduced widely to the public. The facts and the science show that covid stopped being a major threat not long after it spread to the US. The official median IFR (Infection Fatality Rate) according to dozens of peer reviewed studies stands at mere 0.23%. Meaning, over 99.7% of the population is not under threat from covid.

The lockdowns didn't work, but they weren't needed. The mask mandates didn't work, but they weren't needed. And, the rates started dropping dramatically for the original covid strains before even 5% of the US population was vaccinated. All in all, every single government policy that interfered in the lives and freedoms of millions of people ended up being pointless.

Biden's recent declaration means nothing, because he is in no position to determine the current state of the pandemic. The American people already did that, and we declared the thing over a long time ago.

Immediately after Biden’s remarks, Kentucky Rep. Thomas Massie insisted that the administration should now relinquish all the emergency powers it has grabbed by hyping the threat of the virus.

“If ‘the pandemic is over’ as Biden says, then all of the President’s emergency powers predicated on a pandemic, all COVID vax mandates, the emergency powers of every governor, Emergency Use Authorizations, and the PREP act should all be voided tomorrow,” said Massie.

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Additionally, as Jonathan Turley so coherently explains, the President's sudden announcement that the pandemic “is over” may have taken some people by surprise, including Administration lawyers still using the pandemic as a basis for policies and programs. This includes a major appellate case this week.

The Administration relied on the pandemic to justify the massive loan forgiveness program at a cost of as much as $1 trillion. The move will be the subject of challenges and defended under the HEROES Act of 2003 as tied to a national emergency, ”when significant actions with potentially far-reaching consequences are often required.”

The pandemic is also being used by states continued crackdowns on those who refuse to get vaccines. New York is moving to fire hundreds of teachers and school administrators.

Private companies like T-Mobile are also moving this month to fire unvaccinated workers.

The President also heralded the removal of masks recently despite the continues requirement for some schools and other locations under pandemic rules (including at my own George Washington University). While at the Detroit Auto Show, Biden declared “If you notice, no one’s wearing a mask, everybody seems to be in pretty good shape.”

Biden’s statement on the end of the pandemic is likely to be cited in a variety of briefs in cases challenging emergency powers and policies used by the Administration. It was just a year ago, in September 2021, that the President imposes such rules to “ensur[e] the health and safety of the Federal workforce and the efficiency of the civil service.” President Biden announced a similar requirement for federal civilian employees. Exec. Order No. 14,043, 86 Fed. Reg. 50,989 (Sept. 14, 2021).

One such example could be the appeal now being considered by the United States Court of Appeals for the Fifth Circuit. The issue of the sweeping pandemic authority being claimed by the Biden Administration is now going before the full court in an en banc rehearing.

U.S. District Judge Jeffrey Brown previously issued a nationwide injunction against the vaccination mandate in January. That was stayed and has resulted in a series of conflicted moves on appeal.

Yet, the Justice Department is still citing the pandemic authority and insisting that “if an employee chooses not to receive a COVID-19 vaccine (and is ineligible for an exception), he simply may no longer be permitted to continue in federal employment, just as an employee would be subject to termination if she chose to stop performing her job or chose to violate workplace policies.”

Here is one such recent brief: DOJ Fifth Circuit brief

Now the President is declaring that the pandemic is over as the Justice Department is defending pandemic policies in various courts. Even if one were to argue that the policy should be reviewed as supported at the time, the continued viability of the policy can now be questioned in light of the President’s own statements. The President’s comments also highlight the fluidity of pandemic policies. While we often look to the CDC on such status statements, it is the President who ultimately decides federal policies on pandemic measures.

If the pandemic “is over,” some may question the continued uncertain status of military personnel and federal employees on vaccine status as well as lingering mask mandates being used in some states and by certain businesses.

What we must never forget, however, is how close we came to full-on medical authoritarianism under the supervision of the Biden Administration and men like Anthony Fauci. Numerous agenda driven institutions also pushed hard for the erasure of our freedoms, declaring that we would “never go back to normal again” and that personal liberties had to be sacrificed under the new pandemic construct.

If Biden's vaccine passport executive orders had been enforced instead of blocked, rest assured the US would be like China is today – Still dragging out the lockdowns and pretending covid is an ongoing threat. Anyone refusing to vaccinate would have been denied employment and participation in the general economy, essentially starved into compliance or compelled to join black market systems and become criminals. Millions of citizens stood against these orders and won the day, but now we have to reverse course and ensure such an attempt to dismantle our rights never happens again.
 

marsh

On TB every waking moment

Why So Many Cling To COVID Panic

MONDAY, SEP 19, 2022 - 06:00 PM
Authored by Mark Oshinskie via The Brownstone Institute,

When I was 10, I had a 12-year-old sister, Denise, and two brothers. Lenny was 14 and Danny was 5. We boys slept in the same room in a small, single-story house in a modest, riverside neighborhood known as Pleasureland.

The neighborhood’s name derived from a nearby park with two swimming pools and many picnic tables. On weekends, people from all over North Jersey and even New York City went there and to the adjacent, similar Muller’s Park, where I got my first job, at 15, as a garbageman. Both parks closed in 1985 after two were killed and nine more were wounded in an assault rifle shootout during a late Sunday afternoon, late summer Brooklyn/Jamaican gang picnic. I had swum and dived off the high board there at twilight on Friday, two days prior.

In the week before our last Pleasureland Christmas, in 1967, my Mom expressed to me her concern that Danny no longer believed in Santa Claus. She thought that one of the neighborhood kids had told Danny that Santa wasn’t real. The prospect of having no more Santa-believing kids saddened her. She made me swear not to tell Danny what I knew. I kept my word.

Our bedroom on the back side of the house had only one longish, narrow window near the top of the wall. A streetlight cast faint light into our otherwise darkened room. I slept in the bed next to Danny’s bed. At bedtime on that snowy Christmas Eve, just as we were trying to sleep, and at my mother’s prompting, our Dad ran from the far side of the backyard toward, and then past, our bedroom window, yelling “Ho, Ho, Ho!” As he passed beneath the window, my hidden father held aloft a Santa hat on a stick. The bouncing hat was all we could see from our beds.

Knowing the event was fake, I looked at Danny’s face to gauge his reaction. Having heard Santa’s voice, Danny sat up in the bed and looked up just as the hat passed the window. Upon seeing the hat, Danny was awestruck. I can still see his glowing, wide-eyed face in my mind’s eye. I don’t think I’ve ever seen anyone so amazed.

No matter what other kids might have told him or what he might have suspected on his own, at that magical moment, my parents’ theater convinced Danny for one more Christmas that Santa was real and that we had this hoary, superhuman visitor from the North Pole to thank for the presents under the tree. It was a worthwhile lie.

The government and media have spent the past 30 months disingenuously building Corona fear and implementing a range of talismanic measures like lockdowns, school closures, masks, tests and shots to convince us that they were magically—yet always “Scientifically!—” protecting us all from death.

Just as any thinking six-year-old figures out that Santa simply can’t put all of that toy freight into one sleigh, any thinking adult should have known that none of the hoary Corona crew: neither the elfin Fauci’s, Birx’s nor Biden’s rhetoric or theater made any sense, either in theory or in real-life outcomes; nor did similar alarmism or interventions by younger, hipper “liberal” governors, mayors and prime ministers.

But just like my parents’ efforts to preserve the Santa myth, governments won’t let go of the Corona theater—especially the shots—and the media desperately continues to portray as experts those who “masterminded” the mitigation.

All of the empirical data have corroborated what was known on Day 1 of the lockdowns—namely that this virus threatens almost no one but the very old and infirm, that none of these interventions works and that each of these have caused–and will continue to cause–widespread, terrible secondary and tertiary damage.

Instead of admitting this, governments and media persist in their campaign of terror, lies and bogus zero-Covid measures.

Because to stop lying now would be to admit that it’s all been a delusion. And politically and morally, they can’t bring themselves to do that.

A five-year-old might not know a scam when they see it. But even a ten-year-old does. Or at least should. They’re counting on adults to be like five-year-olds.

It might work.
 

marsh

On TB every waking moment

'Perfect Storm' Strikes But Governments Continue To Spend As If Nothing Has Changed

MONDAY, SEP 19, 2022 - 12:40 PM
Authored by Daniel Lacalle,

For the first time in decades, central banks are tightening their monetary policy while governments continue to spend money as if nothing has changed. Large enterprises are not harmed by the most recent rate increases as long as credit conditions are still lax. However, households and small enterprises are bearing the full weight of the financial squeeze.

The current level of mortgage rates in the US is the highest since 2008. According to Reuters, the average interest rate for a 30-year mortgage hit 6.02% last week.

A perfect storm of declining sales and increased finance costs hurts small enterprises. While retail sales rose 0.3% in August, the data for July was corrected to indicate a 0.4% decline in sales. In addition, after July’s numbers were negatively revised, core retail sales were unchanged in August. This indicates a sharp decline in sales in real terms. Since official retail sales aren’t inflation-adjusted, August’s 9.1% increase over the prior year was actually flat.

In order to combat inflation, the Federal Reserve has raised interest rates and moderated liquidity requirements, which continue to have an impact on consumers but have no appreciable effect on government expenditure.

Government expenditure continues despite the Federal Reserve’s excessive lag.

For seventeen months, inflation has exceeded the Federal Reserve’s target, and increased expenditure by the government only fuels the fire. Core inflation continues to rise.

When the money supply is completely absorbed by new government debt and public deficit spending is kept at record high levels, rate increases are insufficient. Because of this, yearly inflation is still at a three-decade high of 8.3%. Furthermore, core CPI, which strips out food and energy, rose to 6.3% in August. This month-over-month growth of 0.6% exceeded economists’ predictions by a factor of two.

According to analysts, inflation is decreasing and, based on consensus projections, will reach 4% or less in 2023. But if all goes according to plan, that means that in two years, consumers and businesses will see cumulative inflation of at least 12%.

Also keep in mind that since March, shipping rates and commodity prices have corrected, which brings us to these poor August numbers.

Because stocks and bonds are declining, market participants are pleading with central banks to change course. An investor base that has not seen tight monetary policies in more than ten years becomes more worried. Governments are also growing more concerned about rising public debt yields.

Governments like low rates because they profit from both, even if inflation surges.

A stagflation like to the 1970s is considerably more likely if central banks alter their approach and stop raising interest rates while governments implement so-called “anti-inflation measures” that entail increasing debt, expenditure, and currency creation.

There isn’t a magic bullet for inflation. It is quite simple to start and extremely challenging to stop. Governments will continue to introduce new aid initiatives that fuel inflationary pressures if they have a financial motive to grow their debt.

The notion of cost-push inflation is disproved by rising core inflation. The majority of goods and services would see flat or declining pricing if the amount of money remained constant. If there are not more currency units available, then costs do not increase uniformly.

Those who predict a decline in inflation are referring to the rate of price increases rather than a decrease in overall costs. Not that prices would decrease, but rather that the annual rate of price increases will slow down.

Because margins are shrinking and real incomes are declining, this new reality of enduringly high prices is difficult for businesses and families to accept.

The reality that households and small companies are getting poorer and the middle class is being destroyed is true whether you are bullish or bearish on the rate of change of prices.
 

marsh

On TB every waking moment

German Nuclear Power Plant To Shut Down After Reported Leak

MONDAY, SEP 19, 2022 - 09:45 AM
Authored by Charles Kennedy via OilPrice.com,

As Germany desperately attempts to stave off a winter energy crisis, most recently seizing Rosneft refinery assets, a leak at a nuclear plant reported by the country’s Environment Ministry adds to the pressure, with operations now set to be shut in for a week as repairs get underway.

Germany’s Isar 2 nuclear power plant in Bavaria on Monday reported a leak that will require it to go offline in October for repairs.

The nuclear plant is already slated for a permanent shutdown at the beginning of next year as part of Germany’s plan to phase out nuclear power. However, given the looming energy crisis in Germany as winter approaches, there has been some discussion of delaying a phase-out of nuclear power.

The leak at Isar 2 means that a week of repairs in October will be necessary if the power plant is to remain operational beyond December 31st, Reuters reported, citing the plant’s operator.

Two weeks ago, German Chancellor Olaf Scholz rejected the idea of extending the country’s use of nuclear power and delaying the phase out of nuclear power plants. Germany’s opposition conservatives have called on the chancellor to keep the country’s two remaining nuclear reactors online. Scholz has resisted this temptation, insisting that the country will have enough energy resources to make it through the winter.

Under Scholz’s plan the remaining two nuclear reactors will be kept in emergency reserve but will not be producing any power, the Guardian reports.

Germany solidified its plans to quit nuclear power in 2011.

Under those plans, three reactors were shut down in 2021 and three more this year, with two remaining in the phase-out, including Isar 2.

The move is increasingly unpopular amid an energy crisis.

While Germany’s gas storage is now around 87% full, critics argue that Germany’s gas buying spree to fill storage has led to further soaring prices, which also affects neighboring countries.
 

marsh

On TB every waking moment

Why Are Walmart And Other Major US Retailers Canceling Billions Of Dollars In Orders As Summer Comes To An End?​

MONDAY, SEP 19, 2022 - 10:28 AM
Authored by Michael Snyder via The Economic Collapse blog,

Do they know something that they aren’t telling us? As you will see below, Walmart, Target and other major U.S. retailers are literally canceling billions of dollars in orders ahead of the coming holiday season. I have never heard of such a thing happening before, and under normal conditions it wouldn’t make any sense at all. The holiday season is typically the busiest time of the year for retailers, and at this time in 2021 there was actually a great deal of concern that there wouldn’t be enough inventory due to global supply chain problems. But now everything has changed. All of a sudden major retailers are feverishly canceling orders, and this would only make sense if a severe economic downturn was imminent.

For example, Walmart is admitting that it has canceled “billions of dollars in orders” as we approach the upcoming holiday season…

John David Rainey, Walmart’s EVP and CFO, said it had cleared most summer inventory, was reducing exposure in electronics, home and sporting goods, and canceled “billions of dollars in orders” to realign inventories. He said, “Our actions in Q3 will allow us to make significant progress toward rationalizing absolute levels and mix, which will enable our stores to be well positioned ahead of the holiday season.”

It is extremely odd that Walmart would decide to do such a thing.
Recently I had an opportunity to stroll through a Walmart, and there were plenty of inventory holes.

So what would make them suddenly cancel “billions of dollars” in orders that they thought that they were going to need for the holiday season?

Perhaps some enterprising reporter will be willing to ask them such a question.

Meanwhile, we just learned that Target has also canceled “more than $1.5 billion” in orders…

Target said it had reduced its “inventory exposure in discretionary categories” throughout Q2 by canceling more than $1.5 billion of orders in these categories and marking down products.

Target is much smaller than Walmart is, and so for Target to cancel so many orders is a really big deal.

And it turns out that Kohl’s and Under Armour have also been canceling large numbers of orders as well…

Kohl’s has also pulled back on order receipts and increased promotions to get through an inventory glut.

“We have taken action to address inventory, including increasing promotions, being aggressive on clearing excess inventory and pulling back on receipts,” said Kohl’s CFO Jill Timm in a call with investors.

Under Armour also said it made some proactive cancellations due to supply chain constraints to ensure that “the right inventory was coming in at the right time,” said interim president and CEO Colin Browne in a call with investors.

These retailers are obviously scared that they will end up stuck with massive amounts of inventory that they cannot sell.

Do they believe that economic activity during the months ahead will be much lower than they originally anticipated?

One corporate executive that is actually publicly admitting that he believes that a recession is coming is FedEx CEO Raj Subramaniam…

FedEx CEO Raj Subramaniam told CNBC’s Jim Cramer on Thursday that he believes a recession is impending for the global economy.

“I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said in response to Cramer’s question of whether the economy is “going into a worldwide recession.”

The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter. The company also withdrew its full year guidance.

Sadly, he is right on target.

For months, I have been warning that the economic numbers were telling us that big trouble was on the way, and now everyone can see it.

But unlike the “Great Recession” of 2008 and 2009, this time we are also going to have to deal with raging inflation even as economic activity slows down all around us.

In fact, the Wall Street Journal is ominously warning that U.S. consumers “are set to pay even more this winter” as heating costs continue to soar to absolutely ridiculous levels…

U.S. utility customers, faced with some of their largest bills in years, are set to pay even more this winter as natural-gas prices continue to climb.

Natural-gas prices have more than doubled this year because of a global supply shortage made worse by the war in Ukraine, and they are expected to remain elevated for months as fuel is needed to light and heat homes during the winter. The supply crunch has made it substantially more expensive for utilities to purchase or produce power, and those costs are being passed on to customers.

The cost of living has been rising much faster than our paychecks have for quite some time now, and a lot more pain is on the horizon.

I really like how Brandon Smith recently summarized the current state of the U.S. economy…

A common refrain from people who are critical of alternative economists is that we have been predicting crisis for so long that “eventually we will be right.” These are generally people who don’t understand the nature of economic decline – It’s like an avalanche that builds over time, then breaks and quickly escalates as it flows down the mountain. What they don’t grasp is that they are in the middle of an economic collapse RIGHT NOW, and they just can’t see it because they have been acclimated to the presence of the snow and cold.

Economic decline is a process that takes many years, and while you might get an event like the market crash of 1929 or the crash of 2008, these moments of panic are nothing more than the wreckage left behind by the great wave of tumbling ice that everyone should have seen coming far in advance, but they refused.

That is so true.

We are already in the midst of a raging economic crisis, but things will get so much worse during the months and years to come.
Walmart, Target and other major retailers are working really hard to get prepared for what is coming.

Are you?

I hope so, because at this point it should be glaringly obvious to everyone that exceedingly challenging times are on the way
 

marsh

On TB every waking moment

US Gas Producers Struggle To Meet Demand: Kemp​

MONDAY, SEP 19, 2022 - 11:05 AM
By John Kemp, senior market analyst at Reuters,

U.S. shale drillers are struggling to meet strong demand for gas from domestic generators as well as customers in Europe and Asia scrambling for replacement supplies following Russia’s invasion of Ukraine.

Working inventories in underground storage amounted to 2,771 billion cubic feet on Sept. 9, the second-lowest for the time of year since 2010, according to data from U.S. Energy Information Administration (EIA).



Storage has been below the pre-pandemic five-year average continuously since late January and the deficit has shown no sign of closing despite prices well above long-term averages.



Inventories are currently 398 billion cubic feet below the pre-pandemic average, compared with a deficit of 316 bcf at the start of the injection season on April 1 (“Weekly natural gas storage report”, EIA, Sept. 15).



Electricity generation is on track for a record this year as a result of the economy's recovery from the pandemic and slightly above-average temperatures this summer.



U.S. generators are burning record volumes of gas because coal-fired units have been retired and drought has limited hydroelectric output in the western states.

Generators consumed 4,372 bcf in the first five months of 2022, the second-highest on record after January-May 2020 (“Monthly energy review”, EIA, Aug. 25).



Power producers’ gas combustion has been even stronger over the summer months, setting a new daily record in July (“Daily U.S. electricity generation from natural gas hit a record in mid-July”, EIA, Aug. 23).

At the same time, exports are running at record rates as new LNG liquefaction terminals meet soaring demand from importers in Europe and Asia.

APPROACHING WINTER

Persistent scarcity has forced front-month futures prices up to more than $8 per million British thermal units, more than double the seasonal average for 2011-2020...



...and the highest after adjusting for inflation since 2008.



In real terms, prices have been trading for most of the time since late May in the 80-85th percentiles for all months since 1990, signalling a shortage of stocks and providing a strong incentive for more production.



The one-year calendar spread has been trading in an extreme backwardation of $2.50-$4.00 per million Btus...



...(99th-100th percentiles for all trading days since 2007) underscoring the shortage of inventories.



The number of rigs drilling for gas has risen to 166, from 106 at the start of the year and a low of just 68 during the pandemic’s first wave in 2020.



Oil rigs (likely to produce some associated gas) have climbed to 591, from a pandemic low of 172, according to field services company Baker Hughes.

As a result, gas production was up by around 4% in the second quarter of 2022 compared with the same period in 2021 but it was not enough to meet strong domestic and foreign demand and rebuild depleted inventories.



As a result, stocks are vulnerable in the event of a late-season hurricane in the Gulf of Mexico, a colder than normal winter, or an ice storm in the key producing areas of Texas.

In the last 10 years, the average winter drawdown has been around 2,182 bcf with a range from 1,541 to 3,010 bcf, compared with stocks of just 2,771 at present, with roughly two months’ more injections to go.




Even so, hedge funds and other money managers have become progressively less bullish and even slightly bearish on gas prices since April.



The combined position in the two major contracts on NYMEX and ICE is equivalent to a net short position of 435 billion cubic feet, a major reversal from a net long of 1,394 bcf in early April.



With prices already well above the long-term average, many portfolio managers are betting there is scope for them to retreat if winter temperatures are close to normal and there are no major output disruptions.

But the low level of inventories means there are few shock absorbers; the system will quickly come under pressure if this winter’s drawdown is towards the top end of the historic range or exceeds it.
 

marsh

On TB every waking moment

Violent Crime Is A Collapse Indicator

MONDAY, SEP 19, 2022 - 02:00 PM

By the author of Be Ready for Anything and Three Miles via The Organic Prepper blog,

Everyone I know has a story about the increase in violent crime.

Where a family member lives in Georgia, someone recently opened fire in the middle of an upscale family neighborhood. The culprits fired 13 shots into a Jeep stopped at a traffic light and someone who had stopped for a hot dog at a cafe on the side of the road died by a stray bullet. Three others were injured.

Someone opened fire at a park in a mid-sized town in Pennsylvania where my friend’s grandchildren used to live, bullets flying through a residential neighborhood.

Asheville, North Carolina has double the violent crime rate per capita over the average in the United States. This sleepy, beautiful mountain town is now considered one of the most dangerous cities in America.

These are just a couple of smaller towns and cities.

It’s a drop in the bucket compared to New York City, New Orleans, Chicago, and Memphis. And I’m only naming a few places. Violent crime is increasing dramatically across the country.

Violent crime is an indicator
Selco has written many times that when consequences are no longer a deterrent, we’ll begin to see the worst in humanity. He watched it happen. And as we look at a nation hell-bent on sending social workers instead of law enforcement officers to crime scenes, we can see this prediction unfolding right in front of our eyes. There’s a way to police with compassion and still provide consequences, but folks are so busy screaming “defund the police” that they aren’t even considering more mental health training for officers.

As people struggle to provide food and housing for their families, not only will we see violent crime “just because they can,” but we’ll also see property crime increasing.

I recently wrote about Illinois doing away with bail, and this not only means people will be instantly released and asked to come back for trial, but it also means that many won’t even be arrested in the first place, because what’s the point?

All of this is an indicator that our country is in a stage of collapse.
An increase in violent crime is a sign that the civilization we’ve enjoyed is beginning to crumble. Watch this sobering video. (Warning: Graphic Content)

View: https://www.youtube.com/watch?v=GH7cnmGHNxw
19:31 min

It’s clear that managing your safety is up to you, and you alone.
 

marsh

On TB every waking moment

Fauci, Klain, Yellen, Kendi Headline Pfizer-Funded, Far-Left Conference in D.C. This Week.​


LEADING ANTI-AMERICA THEMES ARE BEING SPONSORED BY MAJOR CORPORATES AND CHINESE COMMUNIST-LINKED ENTITIES.

BY RAHEEM J. KASSAM NATALIE WINTERS
SEPTEMBER 19, 2022

Anthony Fauci is set to headline a major far-left conference whose lead sponsors include COVID-19 vaccine maker Pfizer, The National Pulse can reveal. Fauci will appear alongside race-baiter Ibram X. Kendi, White House Chief of Staff Ron Klain, Treasury Secretary Janet Yellen, and more.

The September 21st to 23rd Atlantic magazine festival will take place at the Wharf in Washington, D.C., with tickets going for a cool $400.00 per person. Topics are set to include critical race theory, diversity, Ukraine, censorship, climate change, and centralizing healthcare and pandemic response control.

Fauci – who has overseen most of America’s COVID-19 response in his role as the Director of the National Institute of Allergy and Infectious Diseases – has long been the subject of “fact checks” by corporate media sources such as Reuters, which deny his links with Big Pharma group Pfizer. The chairman and former Chief Executive Officer (CEO) of the Thomson Reuters Foundation– James C. Smith – is a top investor and board member for Pfizer, as The National Pulse revealed in December 2021.

Pfizer vaccine studies have also shown adverse effects on the health of its recipients, including altered menstrual cycles in women, lowered sperm count in men, and cardiovascular problems in children and young adults. Despite the flaws – or perhaps because of them – the company hired a record-breaking number of politically connected lobbyists to help advance vaccine mandates.

Anti-America Line Up.
Other participants in the event include White House Chief of Staff Ronald A. Klain, “anti-racist” activist Ibram X. Kendi, top “Critical Race Theory” scholar Kimberlé Crenshaw, as well as Treasury Secretary Janet Yellen.

The first day of the conference includes “underwritten” panels by Pfizer, Genentech, the Walton Family Foundation, and Edward Jones. The website explains that “underwritten” sessions are “not produced by the Atlantic’s Editorial Team”. In other words, they are long, paid “advertorial” by major corporate interests. Underwritten sessions account for half of the first day’s events; 62.5 percent of the second day’s events; and none of the last day’s events.

The second day’s programming includes a panel on “misinformation”, underwritten by the Boston Consulting Group, and starring TikTok’s “Misinformation Researcher” Abbie Richards, as well as Louis Jacobson from the partisan “fact checker” Politifact. Richards is unlikely to be quizzed on recent revelations that dark money Democrat groups are paying for misinformation to be spread on her Chinese Communist-owned platform by leading Obama acolytes.

Southern Company is then underwriting a panel on George Floyd, followed by the MacArthur Foundation hyping ‘Diversity, Equity, and Inclusion’ and Penguin Books promoting critical race theory.

China Links.
Happy Hours each day are taking place at District Pier in Washington, D.C., with representatives from the hard-left Omidyar network also due in attendance. Omidyar network founder Pierre Omidyar was connected in 2021 to the Chinese Communist-linked Berggruen Institute, whose staff helped run the now-infamous anti-Trump political war game which saw recently appointed Biden advisor John Podesta refuse to concede the election despite losing on election night, in-game.

The Transition Integrity Project’s predictions came to pass, as the political establishment refused Trump poll watchers access and claimed victory in the days after the 2020 vote.

The conference will also host the premiere of a new Peacock documentary entitled Shadowland, wherein political elites are interviewed in an attempt to debunk the idea of a ruling political class in the United States. They will claim that the idea of a political elite or oligarchy is anti-Semitic. Read more about the conference here. https://cdn.theatlantic.com/media/files/the_atlantic_festival_2022_faqs_09132022.pdf
 

marsh

On TB every waking moment

Tesla Is Hiking Supercharger Prices "Significantly" Across Europe

MONDAY, SEP 19, 2022 - 12:02 PM

Prices are going up at the pump...err, we mean the Tesla Superchargers.

According to a new report from electrek, Tesla is increasing prices at its Supercharger stations "significantly" across Europe as the continent continues to deal with a sprawling energy crisis that shows no signs of slowing.

The additional price hikes come after Tesla has already increased prices throughout 2022.

"Due to an increase in energy prices, we are adjusting Supercharging pricing across Europe," Tesla wrote in a letter to its owners in Europe this week. The rising prices not only are a burden for EV owners, but they are starting to challenge the narrative that EVs are cheaper to own and operate on a day to day basis.

"One of the biggest advantages of electric vehicles remains that their cost of operations is much lower than vehicles with internal combustion engines," electrek wrote. But with rising prices at Supercharging stations, who knows how much longer that perceived "benefit" will continue to help buoy demand for electric vehicles.

As we noted earlier this month, energy bills in Europe are expected to rise by €2 Trillion. The trigger for this exponential surge in costs: since January 2020, 1-year forward gas and power prices – usually the reference when signing new energy supply contracts for families or industrial customers – have each increased by more than 13x. The following exhibit shows this evolution, rebased to 100.

1663649745239.png

The blog lamented that it used to cost no more than $5 or $10 for a full charge at a Supercharger. Now, prices are approaching $30.

One Zero Hedge contributor in Europe experienced the rise in prices firsthand this week when an Uber driver, sporting an EV other than a Tesla, remarked that electricity prices had soared over the past week, and that it now costs about $30 to charge fully at a Supercharging station.

A couple dollars more and it'll almost cost the same as filling up with a tank of gas. Oh, the irony...
 

marsh

On TB every waking moment

"The Environment Has Gotten Worse": TV & Film Industry Sputters As Cost Cutting And Layoffs Take Hold

MONDAY, SEP 19, 2022 - 02:20 PM

First it was the streaming studio shift that shook up Hollywood - companies like Netflix were beating out movie theaters and traditional studios publishing content that went direct to streaming. Now, Hollywood is getting shaken up again - this time, because layoffs are on their way.

The struggling TV and film industry continues to run face first into bad news. This week it was reported that Warner Bros. Discovery was firing 100 TV ad salespeople at the same time that Paramount has considered ending offering Showtime as a standalone service, Bloomberg reported.

Netflix followed suit with their own layoffs, the report says. The company has reportedly let go hundreds of employees and abandoned some of its office space. At the same time, the firm's stock price has collapsed and fallen more than 60% from its all time highs.

1663649935023.png

Walt Disney Co. Chief Executive Officer Bob Chapek said in a recent interview with Bloomberg: “The very foundation that the streaming business sits on has been devolving on sand. It’s all been shifting.”

Streaming companies are having trouble getting projects off the ground, a headwind that CEOs like Chapek, who promised profitability and a cut of spending by 2024 for Disney+, have been faced with. Warner Bros. is no longer approving HBO Max project budgets that are more than $30 to $40 million.

Bill Mechanic, a former head of Fox Filmed Entertainment said: “Nobody wants to do anything other than sequels, It’s harder. The environment has gotten worse.”

Sheenie Ambardar, a Los Angeles psychiatrist who has clients in the entertainment field, said: “There is a general sense of uncertainty of when things will pick back up. There’s a general sense of where is this going and how are we going to get out of this?”

Other studios are regularly asking for 20% reductions in budgets and are outright cancelling projects. “Woke,” a Hulu series "about a Black cartoonist", and “Chad,” a TBS series that was set to revolve around a Persian-American family, were both just cancelled, according to the Bloomberg report.

Lower budget products are the first ones to feel the cuts. Chris Fenton, an executive producer, said: “The fear in town is it’s an all-or-nothing game. Either you’re involved in the super-premium category or you’re nervous.”

William Simon, who does executive recruiting for Hollywood put it simply: “Everybody’s pumping the brakes.
 

marsh

On TB every waking moment

"The Fed Is Fuct...", Part 3​

MONDAY, SEP 19, 2022 - 07:45 AM
Via AdventuresInCapitalism.com,
Read Part 1 here...
Read Part 2 here...

Investors like to focus on QE and QT, because the quantity of money has an immediate effect on risk assets. In the same way, we like to focus on the Fed Funds Rate as the price of money also has a dramatic effect on risk assets.

Oddly, we rarely focus on the actual banking function of the Fed.

The Fed acts like a bank by effectively earning a net interest spread on the difference in yield on the securities it owns when compared to the funding cost of deposits from depository institutions. During 2021, the Fed took in $122.5 billion in interest income, paid out $5.7 billion in interest expense, incurred $8.7 billion in expenses (mostly worthless economists who staff the Fed) and then sent most of the remaining profits to the US Treasury. As you can imagine, the Treasury appreciates the proceeds, which amounted to $107.4 billion in 2021, helping to make the budget deficit slightly less egregious.

2021 Federal Reserve Financials



The Fed is also an odd bank in that it cannot go broke. Think of it as being very much akin to Credit Suisse—no matter how much it screws up, it continues to stumble forward. I bring all of this up, because something peculiar is about to happen. Look at the consistent earnings over the past decade. What if those earnings became a sea of red ink?



Why would the earnings revert to red? Let’s use some very rough numbers. For those of you who follow the Fed more closely, just bear with me—I’m focused on concepts, not precision. At year-end, the Fed had $8.7 trillion in liabilities. As a result, every 100-basis point move higher in the Fed Funds rate, increases the interest cost by $87 billion. As mentioned previously, in 2021, the Fed paid $5.7 billion in interest expense—so we’re talking about big changes in funding costs. Let’s say that JPOW is serious about a terminal rate of 4%, that’s $348 billion in increased funding costs. Meanwhile, the Fed’s securities portfolio is mostly fixed rate. Some will roll off and get replaced, but a good chunk of the balance sheet has a duration in excess of 1 year, with $2.5 trillion of the MBS having a duration in excess of 10 years.



Clearly, there’s a mismatch. The Fed earned $122.5 billion in interest income in 2021. Assuming this figure stays constant (it won’t, but bear with me) we’re talking about almost a quarter trillion in losses for the Fed at a 4% interest rate.
  • Interest Income $122.5 billion
  • Prior Interest Expense $5.7
  • Increased Interest Expense $348 billion
  • Worthless Economists $8.7 billion
  • Total Loss $239.9 billion


But it gets worse. Remember when the Treasury earned $107.4 billion? Now that’s reversed, and someone needs to plug the $239.9 billion loss. Call it a swing of $347.3 billion.



Remember how the Fed is sort of like Credit Suisse?? It can keep losing money and there are no ramifications. At my hedge fund, we need to mark everything to market. Banks get a pass on that. They assume that securities mature.

There’s no sense in getting into the details, but they do not need to mark their book—which is a good thing because a good chunk of the long-duration portfolio was purchased at peak prices during the COVID panic when QE was running in insanity mode.

I shudder to think what the marks would be, but the $40.7 billion in balance sheet capital is nowhere near sufficient as a buffer. In fact, the negative equity is already likely hundreds of billions and accelerating.



Now, here’s the oddity of Central Bank accounting. You get a free pass on mark-to-market losses if you hold onto the security, but when you sell a security at a loss, you must recognize that loss. Well, the Fed is now liquidating securities as part of its QT program. It’s inevitable that it will be recognizing substantial losses as prices have moved dramatically since they were purchased.

Remember, Central Banks don’t go broke. Instead, they can either ignore the losses indefinitely or get bailed out by the government—usually by printing money to buy treasuries directly from the Treasury. As the 40-year interest rates cycle continues to turn, the Fed will increasingly be forced to the printing press in order to offset losses from its own negative interest rate spread, its own balance sheet and to plug the hole in the Treasury’s balance sheet that is caused by $107.4 billion in income reversing and becoming a sea of red.

Eventually, the Fed will succeed in breaking something—quite possibly themselves—then pivot. You cannot have massive fiscal deficits while simultaneously having the Fed tighten, as someone has to buy the rapidly increasing pool of debt—especially as the government’s own funding costs are about to explode due to much higher interest rates as short-term paper rolls over at much higher rates. For that matter, the government had over a decade to term out the nation’s debt, yet multiple Treasury Secretaries failed to accomplish this. Now a rather increased percentage of total fiscal revenue will go simply towards paying interest expense.

Milton Friedman famously said, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” As the Fed tries to fight inflation, it’s inevitably going to smash into the wall that I have described above. As a result, I doubt they get too far on the rates side, as past a certain threshold, increasing rates only forces them to print money. Thus, higher rates only accelerate the inflation crisis—especially as higher funding costs disincentivize investment in new capacity across the economy.

In summary, higher interest rates will only increase the cash burn everywhere within the Fed and the Treasury. They’ll rapidly realize that they’re completely trapped. They cannot tame inflation without effectively bankrupting themselves. Except, Central Banks don’t go bankrupt—neither do countries that borrow in their own currencies. Instead, they’ll go bankrupt in a whirlwind of money printing and inflation.



Simply put, they’ll try this experiment, realize it won’t work and get back to monetizing debt. Despite nearly $9 billion spent annually on economists and operations, I doubt any of them have even considered this. As the Fed effectively goes broke, so does the currency. We’re rapidly approaching the moment when “Project Zimbabwe” moves from conceptual to reality.
 
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