GOV/MIL Main "Great Reset" Thread


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9:47 min

Auto Sales Insider Just Shared This Crazy Info ( Banks About To Crash )​


The Economic Ninja

Auto Insider Just Shared This Crazy Info ( Banks About To Crash ). Are we about to see a auto loan apocalypse as auto loans stop due to vehicle repossessions and the bank collapse because used car sales have stopped.


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1:01:18 min starts at 22:15 min)

High-Ambition Coalition Treaty on Plastic Pollution #SDIM22​

Streamed live 6 hours ago


World Economic Forum

The United Nations Environment Assembly made history in March 2022 by adopting a resolution setting up the path to a legally binding global treaty on plastic pollution. What are the strategic priorities the negotiations need to tackle, building on this landmark decision? Join this Issue Briefing as the World Economic Forum and the Ministers of Environment of Norway and Rwanda discuss priorities, perspectives and next steps on the heels of the first Ministerial Meeting of the High-Ambition Coalition to End Plastic Pollution.


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7:12 min

The Euro Zone Is Going To Collapse​


The Economic Ninja

The Euro Zone Is Going To Collapse.


"Dysfunctional Futures Market" May Spark Next EU Energy Crisis As Liqudity Crunch Looms

THURSDAY, SEP 22, 2022 - 03:55 AM

Europe's energy sector is facing a perfect storm as a dysfunctional futures market may lead to a new crisis where prices move higher due to a liquidity crunch, according to Reuters.

Sharp market swings in natural gas and electricity prices since Russia's invasion of Ukraine have left some oil and gas companies without the necessary funds to hedge their physical trades if they cannot satisfy margin calls, an exchange requirement for extra collateral to guarantee trading positions when prices rise...

"We have a dysfunctional futures market, which then creates problems for the physical market and leads to higher prices, higher inflation," a senior trading source told Reuters.

In March, the lack of liquidity became apparent when trading firms, utilities, oil majors, and bankers sent a letter to governments and financial institutions such as European Central Bank for emergency liquidity to shore up energy markets as prices surged.

A flurry of traders who hedged their physical positions with short financial exposure in derivative markets were squeezed by soaring spot prices due to the invasion and forced to cover as increased exchange requirements forced margin calls.

Market players typically borrow to build short positions in the futures market, with 85-90% coming from banks. Some 10-15% of the value of the short, known as minimum margin, is covered by the traders' own funds and deposited with a broker's account.

But if funds in the account fall below the minimum margin requirement, in this case 10-15%, it triggers a 'margin call.' --Reuters

Today's challenging situation ahead of winter is that increased margin requirements to secure trades are sucking up capital at NatGas majors, trading firms, and power utilities.

Some firms and trading desks have called it quits due to high margin requirements, which has led to a decline in market participants -- ultimately causing liquidity to shrink, allowing for even more volatility that could send prices higher.

Senior bankers and traders said exchanges, clearing houses, and brokers had increased initial margin requirements to 100%-150% of contract value from 10-15%. For Example, the ICE exchange demands margin rates of up to 79% on Dutch TTF gas futures.

The letter sent by the European Federation of Energy Traders in March said, "the same company which normally expects to experience daily margin cash flows related to price movements of around 50 million euro, now faces variation margin requirements of up to 500 million euro within a business day."

As we detailed earlier this month, many companies are finding it increasingly challenging to manage margin calls.

Norwegian state-owned firm Equinor, Europe's top gas trader, recently warned that energy companies, excluding in Britain, need at least 1.5 trillion euros to cover margin calls.

One European Central Bank policymaker disputed that figure and said losses are much less in the worst-case scenario.

Last week, Saad Rahim, chief economist at Trafigura, pointed out one warning sign due to the lack of liquidity in commodity markets:

"Open interest and volumes have come down significantly as a result of what is happening on the margining ... will ultimately have an impact on the physical volumes that are being traded because physical traders need to hedge."

European officials have even discussed plans to suspend power derivative markets as a form of intervention to prevent what some believe could trigger the next 'Lehman Style' meltdown.

Helge Haugane, Equinor's senior vice president for gas and power, recently said in an interview that "liquidity support is going to be needed."

So far, countries like Germany have nationalized failed utilities such as Uniper SE. The question becomes how big the crisis is and if the ECB will need to get involved this winter if prices soar higher due to a lack of liquid markets, triggering even more margin calls. Europe appears to be locked in a death loop.



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Powell Contradicts Biden on Inflation: ‘Running Too High’ Rather Than ‘Hardly at All’

By Tom Ozimek September 22, 2022 Updated: September 22,

In his much-anticipated remarks on the economy following the Fed’s policy meeting that saw another jumbo interest rate hike to tame soaring prices, Federal Reserve Chair Jerome Powell said inflation was “running too high,” contradicting President Joe Biden’s recent assertion that prices had risen “just an inch, hardly at all.”

Powell’s press conference on Sept. 21 followed a decision by the Federal Open Market Committee (FOMC) to hike rates by another 75 basis points, bringing the benchmark lending rate to a range between 300 and 325 basis points, or 3.00–3.25 percent.

“The Committee is highly attentive to inflation risks,” the FOMC statement said, with Fed Funds futures contracts expecting the central bank to deliver another 75 basis point hike in November to further ease price pressures.

Following the rate announcement, Powell spoke to reporters, delivering a sobering message on soaring prices and that cooling red-hot inflation would not be “painless.”

Inflation must be brought down, Powell said, and that could require more than just a “relatively modest increase in unemployment.”

“I wish there was a painless way to do that. There isn’t,” he said at the press conference.

“What we hear from people when we meet with them is that they really are suffering from inflation and if we want to set ourselves up—really, really light the way to another period of very strong labor market—we have got to get inflation behind us,” Powell said.

Stark Contrast
The central bank chief also said that various measures of price pressures show that “inflation is running too high.”

“We have seen some supply-side healing, but inflation has not really come down. If you look at core PCE inflation, which is … a good measure of where inflation is running now, if you look at it on a three, six, and 12-month trailing annualized basis you’ll see that inflation is at 4.8 percent, 4.5 percent, and 4.8 percent,” he added.

Powell’s remarks stand in stark contrast to Biden’s recent messaging on inflation. In an eyebrow-raising interview that aired on CBS’ “60 Minutes” program on Sept. 18, Biden downplayed the inflationary pressures facing American families.

The president said in the interview that inflation over the past few months “hasn’t spiked” and that the monthly rate of inflation was negligible.

“The inflation rate month to month was just … an inch, hardly at all,” Biden said in response to a question by CBS’ Scott Pelley, who noted that the most recent Consumer Price Index (CPI) came in at an annual 8.3 percent—which is close to a multi-decade high—and that Americans were “shocked by their grocery bills.”

Grocery store inflation—based on the “food away from home” category in the CPI data—shot up by an annual 13.5 percent in August, the fastest pace in 43 years.

The president replied to Pelley’s question by calling for “perspective” and focusing on the month-over-month rate of inflation in August—which was 0.1 percent—rather than the year-over-year pace of 8.3 percent.

Biden’s remarks on inflation sparked a flurry of critical takes from Republicans and others.


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Here Are Some Things The Fed Will Break If It 'Contains Inflation'​

THURSDAY, SEP 22, 2022 - 11:40 AM
What will stop The Fed?

Investors globally are wondering - after CPI sent the 'peak inflation' narrative to the bottom of the ocean and Powell's Jackson Hole speech (and this FOMC statement and press conference) crushed the 'Fed Pivot' narrative - what other potential indicators/signals (aside from a multi-month slowdown in inflation of course) could prompt Powell and his pals to back off their uber-hawkishness?

We thought of six potential minefields that may have to be avoided if The Fed is to pull off its magic trick of hiking rates to over 4.6% and holding them higher for longer...

1. Frozen Credit Market​

Given the tightening in financial conditions - which Powell said The Fed watches closely - we would already expect corporate borrowing costs to be significantly higher than they are currently...

Worse still, if The Fed's Median Dot comes true, corporate spreads will be even wider and eventually lead to the market freezing for most corporate issuers.

“Investment-grade credit spreads are by far the most important metric to watch given the large proportion of investment-grade bonds,” said Chang Wei Liang, a macro strategist at DBS Group Holdings Ltd. in Singapore.
“Any excessive widening in investment-grade credit spreads to over 250 basis points, close to the pandemic peak, could induce a more nuanced policy guidance from the Fed.”

Additionally, while the risk premium for credit would widen if The Fed did what it says it will do, given where HY CDS are trading, we would expect a surge in defaults...

With record amounts of debt on the corporate balance sheets, the rising cost of borrowing will kill many of the Fed-enabled zombies that roam the market.

2. Disappearing Bond Liquidity​

The last two days have seen zero trades in Japan's benchmark 10Y government bond.

Additionally, bid-ask spreads for JGBs have exploded since March as liquidity evaporates from the world's largest bond market.

It's not just Japan though as US Treasury liquidity has been worsening dramatically in recent weeks, as a Bloomberg index of liquidity for US sovereign is near its worst level since trading virtually seized up due to the onset of the pandemic in early 2020.

And if The Fed gets its way, that illiquidity in the US Treasury market would be at its highest since the great financial crisis, basically killing the conduit for literally trillions of dollars of capital flow...

Are we turning Japanese?

As Bloomberg notes, thin bond-market liquidity would add pressure to the Fed’s efforts to reduce its balance sheet, which ballooned to $9 trillion through the pandemic. The central bank is currently letting $95 billion in government and mortgage bonds roll off the balance sheet every month, removing liquidity from the system.

3. Global FX Crisis​

The dollar has been soaring - to record highs for DXY Dollar Index - as the yield spread/carry-trade attracts flows out of global fiat and into the USDollar...

However, in FX markets, everything is relative - the dollar can only go up if its fiat peers are going down in purchasing power, and that has historically been a problem.

Right now Europe is bearing the brunt as excessive declines in the euro may fuel concern about worsening global financial stability.

“If the euro fell out of bed, the Fed might not want that to get worse,” said John Vail, chief global strategist for Nikko Asset Management Co. in Tokyo.
“It would be more a global financial stability concept rather than anything related to the dual mandate.”

And the fear is spreading, as China's state media recently noted (angrily)...

"A super strong US dollar and the fall of other currencies will, to a certain extent, ease the scorching inflation in the US economy, but the world will have to pay for it."

...the editorial points the finger directly:

" Today, the dollar is once again the world's problem. In a sense, it's hard to believe that the "prosperity" of the US is clean and moral...
...Washington keeps laying mines but never removes them, which will eventually explode the US itself. The incompetence of US financial policymakers has been exposed by the consecutive interest rate hikes that have contributed to the abnormal appreciation of the US dollar with the purpose of defusing the severe inflation. "

Now the anxiety and insecurity brought by the US dollar to the world has heralded the beginning of the decline of its hegemony - regarding Washington's insatiable exploitation, Europe, Asia, the Middle East and other regions have explored the path of "de-dollarization," leading to the inevitable diversification of the international monetary system.

4. Equity Valuation Re-Rating​

If real rates are forward looking - and trading on the basis of what they expect The Fed to do - then even at current levels, US equity valuations are dramatically too rich...

And if the short-term interest-rate market's expectations are right, US equity prices should fall even further...

Back in February 2020, the former Dallas Fed chief offered some more thoughts about Wall Street's 'lost generation'.

"The Fed has created this dependency and there's an entire generation of money-managers who weren't around in '74, '87, the end of the '90s, and even 2007-2009.. and have only seen a one-way street... of course they're nervous."

"The question is - do you want to feed that hunger? Keep applying that opioid of cheap and abundant money?"

Simply put, investors must be weaned off their dependency on a Fed put, and accept the reality that the 'wealth' they thought they had was paper profits and not real.

5. Home Equity Evaporation​

Talking of paper wealth, if The Fed's current planned trajectory for rates is put into action, we should expect a further collapse in existing home sales...

And with that drying up of demand, home prices are expected to fall by an amount similar to the Great Financial Crisis...

And given that Americans' homes are their largest asset, that is a major blow to the narrative-driven 'strength' of the consumer.

6. Economic Collapse​

Finally, and perhaps most importantly, with The Fed's eye so focused on the inflation side of its mandate, it may cause far worse than a 'soft landing' in the economy. If the Median dots come to pass, we should expecte 'hard' economic data to go into freefall - and not even the Biden administration will be able to argue that is not a recession...

So, maybe all of this combined is why the market is calling The Fed's bluff in 2023 - assuming that it will not hold rates 'higher for longer', but will be forced by the ugly recessionary (stagflationary more like) environment to cut rates in 2023...

In fact pricing in over 150bps of rate-cuts in the next two years...

Something The Fed is not expecting at all as it sits in its Ivory Tower proclaiming 'soft landings' everywhere.


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Where Have All The Ships Gone? Signs Of A Recession​

THURSDAY, SEP 22, 2022 - 12:42 PM
Authored by Bruce Wilds via Advancing Time blog,

The images of the west coast ports packed with ships and pictures of them stacked up just offshore have vanished from the evening news. So, where have they gone, and does this mean the supply chain is fixed? It appears that the post-covid shipping glut is over but this does not mean that the supply chain is fixed or there will not be shortages.

As of Sept. 21, 2021, there were 132 cargo ships at the ports of Los Angeles and Long Beach. Dozens of container ships were anchored or adrift off the coast. As of Aug 30, 2022, that number has dwindled to only 8 ships waiting off Southern California. The end of goods backing up in ports on the west coast is a sign we are moving on. Danielle DiMartino Booth recently stated, "We have never seen the collapse of the magnitude that we are witnessing in imports. That is always a tail-tale sign that you are already looking through the rear-view mirror at recession."

In a video released on September 6, 2022, Sal Mercogliano, a maritime historian at Campbell University and former merchant mariner delved into the reduction of ships currently sitting off the west coast. This includes the important Port of Los Angeles and the implications for the flow of cargo and goods as well as freight rates. It now seems that for several reasons, the international supply chain crisis that impacted U.S. logistics firms, retailers, and consumers could continue for a long time.

18:02 min

Most of the disruption in the flow of goods may be in the rear-view mirror, however, a slew of new economic destabilizing factors are beginning to emerge. These will result in a bumpy ride for consumers going forward. Those issues most on our radar are centered around energy whether it is gas or electricity. Others are being talked about but being largely shrugged off until the shelves are empty or prices go through the roof deal with food.

It has also become a problem that in the post-covid era many people simply lack the desire to return to work. This is playing havoc within the labor market. It seems sitting on their bottoms at home for a year has become addictive.

The reality is employers are now finding they are often having to pay more for less productive workers.This is one of the factors driving inflation.

Swinging back to the idea ports are no longer backed up, has to do with the flow of goods. First, we had few goods in the pipeline, then more than a lot, and now it has slipped back a bit below normal because many companies had ordered more than they needed when they were unable to get goods. This has resulted in some companies and retailers now finding they are overstocked and up to their ears in inventory. Another problem is much of this inventory does not meet their current needs.

In short, the supply chain is still messed up but in a different way. Things are not back to normal and the system is not running like a fine-oiled machine. An example of this surfaced this week when Ford warned that it expects to see an extra $1 billion in costs in Q3 due to both "inflation and supply chain issues". Ford is currently suffering through parts shortages that have affected between 40,000 and 45,000 vehicles.

According to The Detroit News, The legacy auto manufacturer at the end of the third quarter expects to have a 'higher-than-planned' number of vehicles assembled but awaiting parts due to supply shortages. The models affected are primarily "high margin trucks and SUVs." This means these vehicles haven't been able to be shipped to dealers. Ford is just one in the long list of companies in this situation and someone will have to pay for what is happening.

Companies are forced to pass the costs of supply chain problems on to customers, shareholders, or both. We should not be under the illusion things will straighten out anytime soon. The problems we face now have created new problems down the road. We should also add into this the effects of bad weather on crops and livestock as well as prices of energy and oil soaring from war and geopolitical issues. Expect some of these factors to result in additional empty shelves, rising prices, and more shortages for months to come.


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An Oil Company Shows Wall Street How To Do ESG​

THURSDAY, SEP 22, 2022 - 02:40 PM
Authored by Rupert Darwall via RealClear Wire (emphasis ours),

In his essential book, “How the World Really Works,” scientist Vaclav Smil writes of modern urbanites’ profound ignorance about the energy and material requirements of the modern world. “We are a fossil-fueled civilization,” Smil writes. “We cannot simply walk away from this essential determinant of our future in a few decades, never mind years.” Smil ascribes the delusive belief that society can forsake fossil fuels to a commingling of fact and fiction, making gullible minds susceptible to cult-like visions.

Based on her speech earlier this month in Dearborn, Michigan, Treasury Secretary Janet Yellen falls squarely in Smil’s gullible-minds category. “We will rid ourselves from our current dependence on fossil fuels,” Yellen declared. Instead, America would come to “depend on the wind and the sun.” Smil describes such beliefs as borderline or actual delusion. Some might be inclined to use stronger language.

Ultimately, it’s the government’s job to keep the lights on; if they go out, elected politicians get the blame and voters pick up the bill. But it’s different for Wall Street. Financiers don’t have to fall prey to other people’s delusions to profit from them. They can make money out of the beliefs of others, however ill-founded – and Wall Street’s embrace of environmental, social and governance (ESG) investment can be seen in this light.

ESG was conceived two decades ago by a small group working in the United National Environment Programme Finance Initiative. According to Paul Clements-Hunt, who led the team, the turning point for ESG was the 2007-08 financial crisis. Public trust in bankers collapsed and ESG offered them a path to redemption. “The finance sector globally needed to rebuild trust,” Clements-Hunt said. “They needed a social license to operate. And I think ESG provided part of the answer.”

Financiers seized on ESG to rinse away the stain of causing the worst financial crisis since the Great Depression. Even better, it gave them a chance to charge premium fees for ESG over plain-vanilla investment products; to adapt Wall Street’s cynical ESG sales patter, financiers doing well by appearing to do good. Thus, Wall Street’s path to redemption would be by parading its green virtue; the collateral damage to the real economy and to living standards from the greening of Wall Street was of little concern, except for the growing political blowback in red states.

That backlash is already working. The Investor Agenda’s 2022 Global Investor Statement to Governments issued ahead of this year’s UN climate conference – a demand that all companies adopt binding net zero targets – is signed by 532 investors with close to $39 trillion of assets under management. But the most significant development is the omission of the three largest institutional investors. BlackRock, Vanguard, and State Street are not signatories.

Writing in the Wall Street Journal, former BlackRock senior executive Terrence Keeley, notes two academic studies that show investors’ losses from the under-performance of ESG funds are not compensated by wider societal gains.

Is anyone surprised? In competitive markets, profit is a measure of the value corporations add to the resources they use and non-ESG investors’ search for profit helps allocate capital to companies likely to use it most efficiently.

Keeley argues that all ESG funds should provide reports on the wider positive impacts they generate. Denver-based Liberty Energy Inc., a leading oilfield services company, has adopted such an approach with its 2022 sustainability report, “Bettering Human Lives.” The report is a 99-page answer to the question that the 532 signatories of The Investor Agenda’s climate crisis statement presume to have answered without a scintilla of analysis: Would the world be better off without fossil fuels?

All energy sources, Liberty’s ESG report notes, have positive and negative impacts on humans and their environment. Since the birth of the oil and gas industry in the second half of the 19th century, global life expectancy has doubled, extreme poverty plummeted, and human liberty expanded. “The timing here is no coincidence,” Liberty says. “The surge in plentiful, affordable energy from oil, gas, and coal enabled this progress in the human condition.” The transformations that brought about the modern world could not have occurred without fossil fuels. “No current industry could exist in recognizable form without the energy and materials from hydrocarbons, including electricity production from hydroelectric, nuclear, wind and solar sources.” Neither could the world feed eight billion mouths without hydrocarbons. Natural gas accounts for 80% or more of the cost of producing nitrogen-based fertilizer.

A major focus is the alleviation of energy poverty. Over the last twenty years, one billion people around the world gained access to electricity for the first time, but nearly one billion still have no access to electricity and another one billion have only intermittent access.

More than two billion people cook their food and heat their homes by burning wood, animal dung, or other forms of biomass, creating indoor pollution that the World Health Organization reckons kills three million people a year from breathing PM2.5 particulate matter. Using propane cooking stoves means clean indoor air. Thanks to the shale revolution, the U.S. now supplies nearly 50 percent of global propane exports. Liberty fractures wells supplying propane to around 100 million people. By any measure, that is positive impact.

Unlike the Intergovernmental Panel on Climate Change in its 1.5 degree Special Report, which views global economic growth solely through the negative prism of climate change and environmental impact – “The spread of fossil-fuel-based material consumption and changing lifestyle is a major driver of global resource use, and the main contributor to rising greenhouse gas emissions,” it declared – Liberty’s ESG report analyzes the negatives, as well as the positives, of modern civilization’s reliance on hydrocarbons. At the current observed rate of warming of 0.17 degrees Celsius per decade, global temperature will be 2 degrees Celsius above pre-industrial levels in 2080. The report also notes that deaths from severe weather declined by over 90 percent since 1920 because wealthier societies with abundant access to energy have become safer places to live. A large majority of deaths caused by severe weather are concentrated in poorer nations blighted by energy poverty.

Under-investment in hydrocarbons and associated infrastructure driven by political, regulatory, and investor pressure, says Liberty chairman and chief executive Chris Wright, has brought about the greatest threat in decades to energy security, reliability, and affordability, a crisis exploited to the full by Vladimir Putin. In continuing to pursue their campaign against fossil fuels, ESG investors posing as planetary saviors are objectively, as Marxists are wont to say, doing Putin’s work.

In her deluded remarks on ridding America of fossil fuels, Secretary Yellen boasted that President Biden’s decision to release one million barrels of oil a day from the nation’s Strategic Petroleum Reserve had cut the price of gas by 17 to 42 cents a gallon. How does she think the Strategic Petroleum Reserve is going to be replenished? Without pumping oil from new wells, those price reductions are likely to reverse. The Treasury secretary saying the government wants to be rid of the oil and gas sector is evidence not just of gullibility and ignorance, but of extreme folly.

Rupert Darwall is a senior fellow of the RealClear Foundation and author of Green Tyranny.


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The Mobilization Begins - Scenes Around Russia: "What Are We Going For?"​

THURSDAY, SEP 22, 2022 - 03:00 PM

The day after President Putin's partial mobilization order - wherein at least 300,000 Russian reservists have been called up - was met Thursday with some scenes of enthusiasm in Moscow, but also many instances of frustration and confusion in various parts of the country.

"Summons delivered to eligible men at midnight. Schoolteachers pressed into handing out draft notices. Men given an hour to pack their things and appear at draft centers," The Guardian observed. "Women sobbing as they sent their husbands and sons off to fight in Russia’s war in Ukraine."

.45 min

Putin's speech had cited a "threat to the territorial integrity" of Russia, but in some places sparked immediate protest by local anti-war voices who complain that the country's young men will be sent to front lines in Ukraine as "cannon fodder".

This as Russian airports continue to be packed, and tickets abroad reportedly sold out for days or even weeks, as people with means exit the country on fears of being sent to fight...

"Thousands of men across Russia were handed draft papers and NGOs helping conscripts were flooded with requests for help Thursday amid the military mobilization launched by President Vladimir Putin to provide extra manpower for the Ukraine war," The Moscow Times reports Thursday.

"One Muscovite who was detained with her husband at an anti-mobilization demonstration told The Moscow Times that male protesters were given draft papers at the police station."

Footage of men lined up on the tarmac of a military airbase, wearing civilian clothes while toting military gear bags, has emerged and was circulated on social media after being published by regional outlet Mash.

1:10 min

According to a further description of another scene wherein a Moscow woman watched her husband leave for war:

“There was a military recruiting officer who gave the detained men draft notifications,” she told The Moscow Times.

“When the first person was asked to go to a separate room, we did not understand what was going on — but when he returned with a draft slip, we just started crying.”

.39 min

Recruitment and mobilization has reportedly been met with some pushback and controversy particularly in outlying ethnic minority regions of the Russian Federation.

1:30 min

Another regional report described of some clips being widely shared:

One video, reportedly taken in Yakutia, shows the management of local companies summoning their workers and loading them onto buses heading to recruitment offices.

Another video, taken in the province of Zabaykalsky Krai, north of Mongolia, shows local military enlistment officers “collecting cannon fodder” late at night.

Videos from Chechnya have also appeared. Local warlord Ramzan Kadyrov has seemingly decided to implement Putin’s decree as quickly as possible, gathering several hundred young men.

Tickets for travel abroad have skyrocketed in price, with most being for one-way flights out of the country.

.41 min

The Associated Press has meanwhile reported of ongoing anti-war protests popping up in various locales across the country, particularly in large cities:

As protest calls circulated online, the Moscow prosecutor's office warned that organizing or participating in such actions could lead to up to 15 years in prison. Authorities issued similar warnings ahead of other protests recently. Wednesday's were the first nationwide anti-war protests since the fighting began in late February.

The state communication watchdog Roskomnadzor also warned media that access to their websites would be blocked for transmitting "false information" about the mobilization. It was unclear exactly what that meant.

.09 min

Protests have been filmed in and around Moscow and St. Petersburg Wednesday night into Thursday, with hundreds of arrests reported...

.08 min

One activist group was cited in The Guardian as saying of Putin's Wednesday speech and military order related to Ukraine mobilization, "It’s not a partial mobilization, it’s a 100% mobilization."

Men boarding buses in the Belgorod region after being handed their orders...

.31 min

Writes The Guardian: "During a televised interview on Wednesday, Shoigu said Russia would be targeting 300,000 draftees, mainly those with recent military experience. But the actual number in an order signed by Putin is secret."


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Russian Nukes Can Be Used To Defend Annexed Ukraine Regions, Kremlin Warns

THURSDAY, SEP 22, 2022 - 06:45 AM

Once again Dmitry Medvedev, the deputy chairman of Russia’s Security Council, has served the role of issuing more severe 'read between the lines' warnings and threats fresh off President Vladimir Putin's Wednesday speech announcing partial mobilization of national forces and which confirmed referendums of occupied portions of Ukraine to join the Russian Federation.

Putin's most alarming line came when he said, "If the territorial integrity of our country is threatened, we will certainly use all the means at our disposal to protect Russia and our people," following with "It’s not a bluff." He had also stressed Moscow is ready to use "all available" means to protect its "territorial integrity".

Medvedev has taken the president's words further in Thursday statements, stressing that regarding Russian-seized territory and the move to vote in several areas - including the LPR, DPR, Kherson and Zaporozhye regions - "there is no going back" and that even a 'nuclear option' could be on the table.

"The Donbas [Donetsk and Luhansk] republics and other territories will be accepted into Russia," he posted to Telegram. That's when the former president and top national security official doubled down on Putin's nuclear warning, stating:

Russia has announced that not only mobilization capabilities, but also any Russian weapons, including strategic nuclear weapons and weapons based on new principles, could be used for such protection.

Putin and Medvedev's statements mark the first time any top Russian officials have affirmed readiness to bring newly acquired Russian territories under Moscow's nuclear doctrine.

However, it remains that Russian forces do not yet control 100% of any of the four main territories where annexation votes are to be held - with some referendums set for early as this weekend according to prior reports.

To review of the past 48 hours of Kremlin decision-making which is poised to escalate this war even further, here is the logical course of what just got enacted in the call-up of some 300,000 reservists:
  • Conscripts were previously told they won't be sent to Ukraine to fight because they are stationed/defend inside Russia
  • Ukrainian-held territories are now about to vote to join the Russian Federation.
  • When these territories join Russian then they are "inside Russia." They are Russian oblasts and attempts to defend (formerly) Ukrainian territory would then mark an invasion of Russian territory supported by NATO equipment.
  • Thus Medvedev's warning of 'willingness' to use nukes covers these territories inside Ukraine.

Putin's emphasis of this is "not a bluff" notwithstanding, some analysts say this is all about posturing in order to scare NATO away from escalation...

“I think it signals that he wants people to think he would risk nuclear war,” Phillips O’Brien, a professor of strategic studies at the University of St. Andrews in Scotland. “I don’t think it means he is any more likely to do it than he was yesterday.”

"If he says that any attack on soil that he calls Russia is going to be a nuclear tripwire, Ukraine’s already broken that in Crimea," O’Brien added in comments given to NBC. Yet Washington says it is taking this nuclear rhetoric seriously.

As for the White House, President Biden in his Wednesday UN General Assembly speech in New York called out Putin's “overt, reckless and irresponsible” nuclear threats, warning that such wars should “never be fought” and that Russia's actions should make everyone's “blood run cold”. He renewed his warning of “a nuclear war cannot be won” - saying the US does “not seek a cold war”.


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24 Attorneys General Demand Credit Card Companies Drop Plans to Track Gun Sales​

By Tom Ozimek
September 21, 2022 Updated: September 21, 2022

Two dozen Republican attorneys general have sent a letter to Visa, Mastercard, and American Express demanding the credit card companies abandon plans to track gun sales in the United States through firearm-specific transaction codes.
Credit card companies face pressure from gun control groups and lawmakers sympathetic to their cause to adopt new merchant category codes (MCC) for firearms, which now fall into the “general merchandise” category.

This, in turn, was prompted by a decision on the part of the International Organization for Standardization (ISO), a Switzerland-based group that sets and monitors quality standards for various industries, to establish firearm-specific codes.

Reacting to the ISO decision, Visa said in a statement that it would “proceed with next steps, while ensuring we protect all legal commerce on the Visa network in accordance with our long-standing rules.”

The National Rifle Association (NRA) criticized the shift, calling it an erosion of Second Amendment rights.

“The decision to create a firearm-specific code is nothing more than a capitulation to anti-gun politicians and activists bent on eroding the rights of law-abiding Americans, one transaction at a time,” an NRA spokesperson said.
More pushback against the adoption of firearm-specific codes came in the form of a Sept. 20 letter penned by 24 Republican attorneys general.

In the letter, the attorneys general argued that the new codes won’t protect public safety, unfairly single out law-abiding merchants and customers, and are prone to being misused.

“First, efforts to track and monitor sales at gun stores would only result in vague and misleading information. This categorization would not recognize the difference, for example, between the purchase of a gun safe and a firearm,” they wrote.

The codes also wouldn’t capture gun sales at department stores and so would result in “arbitrarily disparate treatment” targeting sellers and buyers at gun stores.

“More importantly, purposefully tracking this information can only result in its misuse, either unintentional or deliberate,” the attorneys general wrote.

They argued that tracking firearm purchase data “only matters if your institutions are considering using that information to take further, harmful action—like infringing upon consumer privacy, inhibiting constitutionally protected purchases by selectively restricting the use of your payment systems, or otherwise withholding your financial services from targeted ‘disfavored’ merchants.”

The officials also denounced what they described as “corporate leverage” being used to push political objectives outside of the regular legislative process that would normally allow for public debate and the building of democratic support.

“The Second Amendment is a fundamental right, but it’s also a fundamental American value. Our financial institutions should stop lending their market power to those who wish to attack that value,” they wrote.

The attorneys general warned they’re prepared to take legal action “to protect our citizens and consumers from unlawful attempts to undermine their constitutional rights.”

The Epoch Times has reached out to American Express, Mastercard, and Visa with a request for comment.


On TB every waking moment

Big Russia Wheat Crop Getting Bigger

By PRO FARMER EDITORS September 22, 2022

SovEcon raised its 2022 Russian wheat crop forecast by 5.3 MMT to a record 100 MMT due to strong spring wheat yields across most regions. Wheat production is now expected to top the previous high by 14 MMT. SovEcon now expects total grain production to be a record 151.4 MMT.

Despite record production, SovEcon estimates July-September wheat exports at 10.2 MMT, down 14% from the five-year average, due to the strong ruble and the export tax


On TB every waking moment

Manless Machines Make Moves

"The early autonomy customers are helping us define the future and they are a key part of setting the direction for the product,” says Ben Voss, director of sales at Raven.

By MARGY ECKELKAMP September 22, 2022

Autonomy continues its steady march forward as new machines are being showcased with no one in the cab—or no cab at all. This fall saw another round of companies iterating their ideas around the concept of helping ag retailers do more with less labor.

“There’s no one defined outcome with autonomy,” says Ben Voss, director of sales at Raven.

“It’s important to get reaction, feedback and time in the field to have autonomous products that serve the real needs in agriculture.”

He adds the cost-benefit to autonomy can be very attractive with labor savings and increased productivity seen as the most upfront benefits. But, when users experience the products in the field, it helps them realize gains that weren’t obvious or anticipated.

“We will continue to invest our time to get valuable user feedback on the technology out in the field. The early autonomy customers are helping us define the future and they are a key part of setting the direction for the product.”

Case IH Trident 5550 Applies Raven Autonomy for Driverless Spreading
The Case IH Trident 5550 with Raven Autonomy is built to be a combination applicator—both liquid and dry applications—but now equipped with Raven Autonomy, the machine can also be run in either autonomous mode or manual mode.

The technology and machine marriage mean one or more driverless machines can operate in the field without an operator present in the cab. The company highlights how this can provide for greater efficiency with available labor as well as consistency in spreading application accuracy for repeatable sub-inch accuracy.

Company leaders say the autonomous spreader is a milestone in the collaboration between Case IH and Raven since CNH Industrial acquired Raven in 2021.

Here’s how the autonomous spreader works:

Operators can plan and complete an entire field operation based on mapped field boundaries from a mobile device.

A series of cameras and radar system enable the Raven Autonomy perception to sense the 360-degree environment around the machine.

Artificial intelligence continuously processes a stream of images, which power Raven’s perception controller to detect obstacles.

If an obstacle is recognized, then the machine stops safely, and the operator receives a mobile alert.

Machine tasks and functions—fuel level, diesel exhaust fluid level, speed, revolutions per minute, bin-level status, Universal Terminal information and diagnostic trouble codes—can be reviewed on a mobile device.

Solinftec offers “Clean Field As a Service” Via Solar-Powered, Unmanned Sprayer

For the past three years, the team at Solinftec has been working on advancing its solar-powered autonomy platform, Solix. It has tested a scouting machine and is in the first year of testing a selective spraying machine.

Leo Carvalho, director of operations for Solinftec, says the company has been testing different machines with specified applications in Brazil, Canada and the U.S.

“We understand there are differences between these regions—the crops grown and the pain points for farmers,” Carvalho says. In the U.S., he says the work done so far has encouraged the team to have Solix robotics first tackle the issue of weed control. First, the company announced the Solix Scouting machine. Now, it will offer Solix Spraying.

“We want to reduce the amount of herbicide used,” he says. “To do that, we need to identify 100% of the kinds of weeds and act in the field to make spot-spray applications. We have a concept that can run constantly as long as field conditions and weather conditions are fit.”

The robot is 2.5 meters and is powered by four solar panels. The spot-spray system has been developed by Solinftec’s engineering team to provide plant-level management. Carvalho explains the Solix sprayer can cover almost 100 acres per day. With one year of testing in conjunction with Purdue University, the Solix sprayer has shown up to 70% reduction in herbicide used. As previously announced, Solinftec has partnered with Growmark to test its scouting robot. And the company recently announced a partnership with FBN to test the sprayer.

Trimble and Its Venture Group Invest in Autonomy


In late August, Trimble announced will it acquire Bilberry, a startup focused on using artificial intelligence for spot-spraying. Bilberry technology has been developed as a retrofit system for sprayers to provide green-on-green and green-on-brown spot-spray applications. Bilberry started in France in 2016 and was privately held.

Also this summer, Trimble Ventures, Trimble’s corporate venture capital fund, invested in Sabanto Inc.

Using a fleet of 60- and 90-hp tractors, Sabanto is launching its Farming as a Service concept. It has autonomously tilled, planted, seeded, weeded, applied and mowed across Illinois, Iowa, Indiana, Missouri, Nebraska, Minnesota, North Dakota, Wisconsin and Texas. For example, one of its 60-hp tractors planted more than 750 acres of corn and soybeans in one season.


On TB every waking moment

The "Great Reset" Is Real And Wreaking Havoc​

Why are global elites demanding poor nations make energy expensive?​

Michael Shellenberger
3 hr ago

Over the last decade, the World Economic Forum (WEF), the United Nations’ International Monetary Fund (IMF), and the World Bank have all urged poor nations to stop subsidizing fossil fuels. “End fossil fuel subsidies and reset the economy for a better world,” read the headline of a June 2020 WEF article about the launch of its “Great Reset” initiative.

The WEF article quoted the Managing Director of the IMF, Kristalina Georgieva. "We now have to step up, use all the strength we have, which in the case of the IMF is $1 trillion,” she said to create “the great reset, not the great reversal.” By “reversal” she meant returning to the use of fossil fuels, after the pandemic. By “reset” she meant moving to renewables. "I’m particularly keen to take advantage of low oil prices to eliminate harmful subsidies," she said.

Last week, the government of the small Caribbean island of Haiti took the advice of the IMF, WEF, and World Bank and announced the end of fuel subsidies. The result has been riots, looting, and chaos. A powerful gang leader used public outrage at the announcement to block a port and organize the overthrow of the government. Looters stormed warehouses, making off with food aid. Rioters burned down beach houses and businesses. And several European embassies shut down to protect their staff.

The underlying cause of Haiti’s problems cannot be laid at the feet of the WEF or IMF, and many have exaggerated the role of the Great Reset in policymaking. Haiti has been a ward of the US government and international agencies for decades. In 1994, the UN Security Council authorized a military occupation of Haiti after its military overthrew a democratically elected president in 1991. An earthquake killed over 100,000 and devastated infrastructure in 2010. As for WEF, it has been the subject of ridiculous conspiracy theorists.

But there is no question that it was the Haitian government’s announcement of fossil fuel subsidy cuts that triggered the current chaos, nor that it was encouraged by WEF, IMF, and the World Bank. Conspiracy theories aside, the influence of the WEF is quite real, and one of the central demands of the Great Reset was, upon its launch, the phase-out of fuel subsidies in poor nations. And after the government of Haiti, last week announced it would do just that, thousands of Haitians surged into the streets to burn tires for roadblocks. “The population cracked,” a truck driver told the Wall Street Journal.

In an email to me, an IMF spokesperson defended the agency’s advocacy of fossil fuel subsidy cuts. “The Fund supports the objectives of the current government in Haiti as regards fuel reform,” said the spokesperson. “The Fund has also recommended for several years a gradual reduction in fuel subsidies, but only after careful preparation and launch of (i) offsetting social benefits for vulnerable groups affected, including the transport sector, and (ii) clear communications about the rationale and end-goal of subsidy reform.” [Emphasis in original.]

But the IMF should have known that any cut to fossil fuel subsidies would inflame citizens. In 2018, the Haitian government agreed to IMF demands that it cut fuel subsidies as a prerequisite for receiving $96 million from the World Bank, European Union, and Inter-American Development bank, triggering protests that resulted in the resignation of the prime minister. And in 2014, the government of Haiti, on the advice of the World Bank, combined fuel price increases with greater spending on health and education, as IMF recommends, and the result was widespread strikes that forced the government to resume subsidies by early 2015.

And, it’s not just Haiti. Over 40 nations since 2005 have triggered riots after cutting fuel subsidies or otherwise raising energy prices. It happened earlier this year in Kazakhstan, Ecuador in 2019, Nigeria in 2012, Bolivia in 2010, and Indonesia in 2005. “What is interesting,” note researchers, “is that the story plays out in almost the same way, and the consequences of both action—and inaction—are very similar as well.”

All of which begs the question: why, if cutting fuel subsidies results in social chaos and the overthrow of governments, do global elites at the WEF, UN, and World Bank keep demanding poor nations do it?

The Global Elites’ War on Energy​

WEF Chairman Klaus Schwab; IMF Managing Director Kristalina Georgieva; UN Secretary-General António Guterres (Getty Images)

In 2017, an obscure agency within the World Bank called the Energy Subsidy Reform Facility (ESRF) published a report about what went wrong with its 2014 efforts in Haiti to remove fuel subsidies. In it, ESRF revealed itself to be the architect of the Haitian government’s plan to cut fuel subsidies. ESMAP ran economic simulations to predict the impact of fuel price increases on different social groups, held workshops with government officials, and staffed an “inter-ministerial reform committee” to devise ways “to contain possible social and political unrest.”

The report is so damning I was surprised the World Bank allowed it to be published.


On TB every waking moment

Bill Gates wants to force everyone to live off of his patent pending synthetic corn​

Microsoft founder pivots from COVID Mania to Climate Change.

Jordan Schachtel
4 hr ago

Given that COVID Mania is becoming increasingly unpopular with the public at large, the global ruling class has decided to rebrand their relentless campaign for technocratic tyranny. Bill Gates, for his part, is transitioning from a gene juice vaccine (mRNA) salesman to a monopolistic synthetic corn salesman. And once again, he is using the continent of Africa as the patient zero for his latest maniacal experiment.

At his annual Gatekeepers, I mean Goalkeepers, conference in New York City this week, Gates featured his lab made corn product as a solution to hunger in Africa.

Twitter avatar for @gatesfoundation Gates Foundation @gatesfoundation
.@BillGates has the juice. #corn #Goalkeepers2030
September 21st 2022

The Microsoft founder is deeply embedded in the climate hoax movement, and has reoriented most of his “philanthropic” endeavors behind trying to change the earth’s temperature.

At Goalkeepers, Gates touted his GMO corn as a critical solution to climate change in Africa. If this confuses you, he means that he doesn’t want African farmers to invest in and consume nutrient rich livestock, which would actually improve their lives, because Gates believes the cows, chickens, and such are contributing to “climate change.” Therefore, Bill Gates has decided that Africans must subscribe to a lifetime of You Will Eat Corn And You Will Be Happy. .26 min

Corn by itself has very little nutritional value, which is why many African governments end up subsidizing a maize meal product to citizens with added nutrients and vitamins. Many African societies already embrace a corn-heavy diet. However, this diet is a bug, not a feature. It is the product of a dysfunctional agricultural environment, and not some kind of cultural staple.

The Gates plan takes a real diabolical turn when you learn that Gates and his foundation have spent the last several years buying up farmland and securing hundreds of patents for seeds and all kinds of lab made “food” products.


Here’s some details on Gates’s mission from U.S. Right To Know, a healthcare investigative research non-profit:

"Gates says rich countries should shift entirely to synthetic beef. And he has the intellectual property rights to sell them. As a food that can help fix the climate, Gates touts the Impossible Burger, a plant-based patty made from genetically engineered soy and textured with engineered yeast. Its manufacturer, the Gates-funded Impossible Foods, has two dozen patents and more than 100 patents pending to artificially replicate cheese, beef and chicken and permeate these products with manufactured flavors, scents and textures.

Similar to the outcome of his COVID “investments,” there is a clear financial motive to Gates’s plan to coerce people into consuming his fake food. If successful, it will surely dramatically increase his wealth and power.

Between March 18, 2020 (the beginning of COVID Mania) and May 4, 2022, Bill Gates experienced a wealth increase from $98 billion to $129.8 billion, driven in large part from his COVID-related “investments.”

Gates leveraged his wealth to successfully monopolize global COVID policy, causing devastation to millions, if not billions of people worldwide. He now seeks to do the same thing in the agriculture space, in attempting to force humanity to consume his patented “food” products in order to “save the planet.”

Hailed by the media outfits he controls as a great philanthropist, the late Jeffrey Epstein’s close friend has invested billions of dollars in Africa through his non-profit. Since retiring from the tech world, Bill Gates has dedicated much of his time and energy to the continent. However, regardless of his true motives, virtually everything that Gates "works on" turns into poison. Africans have suffered greatly because of him, and his campaign to coerce a synthetic corn-based standard of living will continue that theme.


On TB every waking moment
Michael Yon @MichaelYon
Sep 22, 2022 at 12:07pm
Back in Netherlands
Nice to see many plants still breathing for now. I just crossed from Germany back to Netherlands.

Back in Netherlands .08 min

Michael Yon @MichaelYon
Sep 22, 2022 at 12:35pm
The Alert for 24 September 2022
22 September 2022
Somewhere, Netherlands

Folks keep asking me about some big surprise on 24 September. A German politician ran off at the mouth on something mysterious. I got nothing. No indications of anything other than the normal fires at food facilities and energy infrastructure. Who knows? Maybe a General will agree to a sex change exchange for another star.

Bottom line: I got nothing.


Michael Yon @MichaelYon
Sep 22, 2022 at 1:01pm
DEF Price Now in Netherlands
22 September 2022

That’s about 27USD for 10 liters.

And some other prices just now:


Michael Yon @MichaelYon
Sep 22, 2022 at 5:04pm
China Dramas
From J Zheng

Nearly 60% of flights were canceled across #China yesterday (Sep 21). No reasons were offered. As of 22:35 on September 21, 16,062 flights were planned for the day, and 9,583 flights were canceled.



On TB every waking moment

‘How Is That In Our National Interest?’: DeSantis Takes Action To Limit Chinese Communist Party’s Land Buyouts

Daily Caller News Foundation logo

September 22, 2022

Florida Gov. Ron DeSantis proposed legislation Thursday prohibiting the Chinese Communist Party (CCP) from continuing its “nefarious” policy of land buyouts near U.S military bases in the state.

The measure limits companies affiliated with China and other countries of concern, including Russia, Iran and North Korea, from purchasing sensitive land around the 21 U.S. military bases in Florida. Chinese purchases of land at Grand Forks Air Force Base in North Dakota, reported by CNBC in July, and Malmstrom Air Force Base in Montana triggered worries that the CCP would use the land to surveil goings-on at the bases, potentially giving the CCP a conflict advantage and provide insight to U.S. defense technology.

“How is that in our national interest?” DeSantis said in a press briefing.

“They want to get intelligence. They want to know what’s going on here in the United States,” he added.

China’s Huawei has installed telecommunications equipment on land near U.S. military bases, raising concerns among lawmakers and national security officials that the CCP might intend to capture sensitive data on military procedures and personnel, CNN reported.

Foreign investors hold a stake in 5.8% of Florida’s agricultural land, according to a statement.

“From server farms to farmland, the Communist Party of China has been worming its way into our nation’s data storage systems and buying up tracts of land near sensitive national security sites,” DeSantis said in the statement.

In the same swath of actions designed to protect Floridians from malign Chinese activities, DeSantis signed an executive order barring government entities from obtaining technology products and services from companies those countries own or control. The order also outlaws contracting with companies owned by or housed in the countries of concern, if those contracts would require providing access to Floridians’ personal information, such as medical records.

While some companies appear privately owned, “if you peel back the onion” they display links to the CCP, DeSantis said.


“By prohibiting the purchase of lands, state contracts with Chinese technology firms, and the infiltration of CCP-affiliated groups such as Confucius Institutes, Florida is leading the way to protect our nation from international foes,” said DeSantis.

China purchased a total of $6.1 billion in U.S. real estate last year, much of that near sensitive military and trade sites, Texas Policy reported.

President Joe Biden is aware of China’s “unfair trading practices” and has taken steps to address the ensuing economic risk to the U.S., National Security Council spokesman John Kirby said when asked about China’s land buying scheme in a Sept. 13 briefing.
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On TB every waking moment

‘Is It Secure?’: DCNF Reporter Breaks Down Border Crisis, Record Illegal Immigration

September 22, 2022

A Daily Caller News Foundation reporter described why migrant numbers at the border have skyrocketed during a Tuesday evening appearance on One America News Network (OANN).

Host Addison Smith asked DCNF reporter Jennie Taer about claims made by Biden administration officials, including Vice President Kamala Harris that the border was “secure.”


Video on website 7:19 min

“It’s definitely something the migrants will tell you is not true, and they know it for a fact, the message that’s been going across the world, you know, many migrants from across the globe at the border, and they know that message,” Taer told Smith. “That’s what the smugglers tell them, it trickles down to almost every country, to all these desperate nations and that’s exactly true from what we’ve seen.”

“I actually spoke with some of the NGOs down here about this, and they said, ‘No, it’s totally secure,’ so there is that debate going on, is it secure, is it not?” Taer continued, citing information from United States Customs and Border Protection. “We know there’ve been two million migrant encounters since October and that’s a record. We haven’t even finished the fiscal year and that’s where we’re at.”

Republican Govs. Ron DeSantis of Florida, Greg Abbott of Texas and Doug Ducey of Arizona have been transporting migrants to so-called “sanctuary” jurisdictions. DeSantis sent two flights of migrants to Martha’s Vineyard, Massachusetts, while Abbott and Ducey bused migrants to Washington D.C., Chicago and New York City.

United States Customs and Border Protection and the Department of Homeland Security did not immediately respond to requests for comment from the DCNF.


On TB every waking moment

China Tells Europe To Ramp Up Climate Efforts While Hoarding Fossil Fuels​

September 22, 202211:58 AM ET

China’s Special Representative for Climate Change Affairs Xie Zhenhua told energy-starved European nations on Wednesday to take further action to meet climate targets; however, China is continuing to add to its vast coal reserves.

Zhenhua told Germany’s climate envoy, Jennifer Morgan, urged European countries to avoid backsliding on their climate commitments despite its severe energy crisis, according to Reuters. China, the world’s chief carbon emitter, recently claimed to have enough coal to fuel its economy for the next 50 years due to its recent expansion of coal production, according to a government report.

“The climate policies of some European countries have shown a ‘backswing’, and it is hoped that this is just a temporary stopgap,” Zhenhua said, according to Reuters.

Zhenhua added that Europe must pursue “positive action” to fulfill international climate goals as the global climate agenda is facing “multiple challenges and uncertainties.”

China produces more than 30% of the world’s emissions and relies heavily on coal, a fuel source that emits about twice the amount of greenhouse gases as natural gas, an energy source that is more commonly used in Europe, according to Eurostat. Beijing has also indicated that it will increase its coal consumption for the next several years, according to a July Greenpeace report.

Chinese imports of Russian oil totaled 8.342 million tonnes in August, equal to 1.96 million barrels per day (BPD), slightly lower than May’s record of nearly 2 million BPD, according to data from the Chinese General Administration of Customs. China is collaborating with Russia to build a series of oil and gas pipelines to supply itself with fuel, Reuters reported on Sept. 15.

Europe is rushing to burn coal to generate electricity as it struggles to cope with natural gas shortages that are being exacerbated by Russia’s invasion of Ukraine, according to Reuters. The European Union (EU) is mulling a plan that would cap electricity companies’ revenues to flatten skyrocketing energy bills, according to the European Commission.

China was Russia’s largest oil buyer for the third straight month in July as most of the EU continues to sanction Russian energy, according to CNBC.
The Chinese Ministry of Ecology and Environment did not immediately respond to the Daily Caller News Foundation’s request for comment.


On TB every waking moment

CASE DISMISSED: Victory For Parents And Their Children

Louisiana Department of Health (LDH) Official Repeals COVID Shot Mandate for School

Robert W Malone MD, MS
Sep 21

BATON ROUGE, LA - This year, parents and guardians stood together in opposition to the COVID-19 shot being required for their children to attend school. As a result of their coming together, the Louisiana Department of Health (LDH) decided to rescind the mandate for Louisiana students. As of yesterday, it has officially been repealed.

In light of this victory for parents and their children, Attorney General Jeff Landry has filed a motion to dismiss the Crews v. Edwards case, wherein he sought to have the vaccine mandate enjoined and issued the following statement:

"Today is the culmination of hard work by so many concerned parents throughout Louisiana. This is the direct result of moms, dads, grandparents, and guardians fighting for what is right. I thank Representative Raymond Crews, Health Freedom Louisiana, the Bayou Mama Bears, Town Hall Baton Rouge, Children’s Health Defense, and all those from across Louisiana that stood with us for parental choice.

Child medical decisions should be made by their guardians, not the government. I hope this health freedom victory reminds everyone what can happen when we all work together. When citizens are engaged and get involved, their government will listen." -Attorney General, Jeff Landry, Sept 21, 2022

Some history on this historic event:

December, 2021 - I went down to Baton Rouge Louisiana with the Children’s Health Defense team on short notice to help Health Freedom Louisiana, the physician and nurses’ advocacy group Louisiana for Medical Freedom, Representative Kathy Edmonston, and Attorney General Jeff Landry by supporting testimony opposing the Louisiana Department of Health move to mandate the unlicensed and still experimental Pfizer vaccine be taken by Louisiana school children. I wrote about that trip here.

Then last April, Health Freedom Louisiana wrote about their continuing fight to stop the mandates, with a pleas for everyone to reach out to state legislators.

I went back down to Baton Rouge in early May, 2022. to testify in front of a Senate Committee hearing about vaccine mandates for children, in support of HCR 3, which would stop the governor’s mandated COVID vaccination - the only one left in the country. At that time, the bill did pass.

But the Governor that state continued pushing the mandates through the Louisiana Department of Health … until finally they didn’t.

I think we can all take this as a win. A BIG WIN!

It took a huge effort on the part of AG Jeff Landry, who never gave up. Louisiana for Medical Freedom and Representative Kathy Edmonston who has continued in this fight to stop the mandates and frankly, so many of us. Children’s Health Defense and Robert F Kennedy, Jr. who has also been there working behind the scenes to make this happen.

Thank you everyone.

One step, one state, one nation - medical freedom. Medical Freedom is just part of being free. Freedom for all was what this great nation was founded on. Never forget.


On TB every waking moment
3:24 min

Sheriff Lamb: Biden's Southern Border Created Crisis Has Caused Unprecedented Amounts (of drugs coming in and trafficking)​

Bannons War Room Published September 22, 2022

(He blames the Biden Admin's policy for the rapes and child and drug trafficking. Hold elected officials who are ignoring these problems accountable. It is a problem that has always existed but at the end of Trump 400,000 apprehensions at the end of Trump now at 2 million. Biden's policies have poured fire on the problem.)

Sabine Duden-Coulter: Every Illegal Immigrant Crime Is Preventable 3:16 min

Sabine Duden-Coulter: Every Illegal Immigrant Crime Is Preventable​

Bannons War Room Published September 22, 2022

Ira Mehlman: The Biden Regime's Immigration Objective Is To Sabotage The Southern Border's Security 2:07 min

Ira Mehlman - (FAIR) : The Biden Regime's Immigration Objective Is To Sabotage The Southern Border's Security​

Bannons War Room Published September 22, 2022

(Deliberate policy of the Administration.)

Juveniles Crossing Southern Border Can Only Be Blamed on Biden And Cartels For Encouraging Behavior 4:27 min

Juveniles Crossing Southern Border Can Only Be Blamed on Biden And Cartels For Encouraging Behavior (Art Del Cueto - union that represents border patrol)​

Bannons War Room Published September 22, 2022

Maureen Maloney: Southern Border Will Be Secured When There Are No Victims of The Illegal Crossing 2:43 min

Maureen Maloney (Angel Mom): Southern Border Will Be Secured When There Are No Victims of The Illegal Crossing​

Bannons War Room Published September 22, 2022

Biden's Southern Border Policy Is To Facilitate Crossing of as Many Illegal Immigrants As Possible 6:32 min

Biden's Southern Border Policy Is To Facilitate Crossing of as Many Illegal Immigrants As Possible​

Bannons War Room Published September 22, 2022

‘16 Dead Bodies’ Found On Ranch 2:37 min

‘16 Dead Bodies’ Found On Ranch (John and Jobeth Ladd)​

Bannons War Room Published September 22, 2022
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On TB every waking moment
10:28 min

Miranda Devine (FBI Whistleblower)​

Bannons War Room Published September 22, 2022

(Talks about the FBI Whistleblower about bias against conservatives. Trying to give the appearance of violent extremism is a growing issue all across the US.)


On TB every waking moment
Former Treasury Official Offers Unique Solution to Woke Wall Street | Guest: Tom Dans | Ep 207 28:58 min

Former Treasury Official Offers Unique Solution to Woke Wall Street | Guest: Tom Dans | Ep 207​

Economic War Room Published September 22, 2022

Tom Dans, a former U.S. Treasury official, has created a unique solution to fight back against woke Wall Street. The ESG movement is misleading investors and taking them down a path that weakens companies and the economic power of the United States. Kevin Freeman and Tom Dans discuss a new strategy for helping bring liberty, security, and values to investors through Tom's creative approach to investing.


On TB every waking moment
The Crazy Is Breaking, Signs The Tide Is Turning & The Red Pill Metaphor - Dr. Robert Malone 3:07 min

The Crazy Is Breaking, Signs The Tide Is Turning & The Red Pill Metaphor - Dr. Robert Malone​

Red Voice Media Published September 22, 2022

“All throughout history when you move through these periods where there’s been this surge of totalitarianism and this kind of hypnosis of people, when the fever breaks they suddenly walk away as if it never happened.”

Full Episode: Dr. Malone On The CIA’s Involvement in mRNA & The Importance Of Christian Community Moving Forward [VIDEO]
Dr. Malone On The CIA's Involvement in mRNA & The Importance Of Christian Community Moving Forward [VIDEO]

(Mass Formation breaking up and people just walking away from the narrative without responsibility. The British Crown's, King Charles', investment in some of the infrastructure supporting the Great Reset. Wall Street's involvement. The "red pill" analogy.)
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On TB every waking moment


On TB every waking moment
4 Reasons to Prepare for Battle Against Pandemic Panic Theater 2.0 55:58 min

4 Reasons to Prepare for Battle Against Pandemic Panic Theater 2.0​

The JD Rucker Show Published September 22, 2022

Ending medical tyranny should never have fallen off the priority list for America First patriots. Unfortunately, a string of good news starting in February with the lifting of most mask mandates followed by governments and companies backing down on the vaccine mandates took much if not most of the focus away from ending all medical tyranny.

Until it's completely wiped out and codified as illegal, the powers-that-be will always have it as an option to turn on and off at their leisure. It appears we're entering into the next phase of Pandemic Panic Theater, so we should expect draconian policies and mandates to return.

On today's episode of The JD Rucker Show, I am diving into four reasons we should expect the return of medical tyranny. In fact, we should expect it to be much worse because with the current financial situation tens of millions of Americans are facing, the powers-that-be know they will not get away with their authoritarianism as easily as they did the first time. They know desperate people will turn to desperate measures, which means we need to be prepared to fight intelligently.

The other side of the coin is also true when it comes to desperate people. While many will rise up and say, "Hell no, not again," others will bow down and do whatever government tells them. Even many who opposed mandates in the past are in far worse financial situations today so if government says they need a jab in order to get their government checks or to stand in the government's upcoming bread lines, they'll do it.

Many have pointed to the midterm elections as the predicate for the coming rise of Pandemic Panic Theater 2.0. I don't disagree that it's a major factor, but we can't let hatred for Democrat strategies cloud our view of the bigger picture. This conspiracy will expand long after the final 2022 vote is counted. That's icing on the cake to entice Democrat lawmakers and powerbrokers to get behind the tyranny, but the long-term goals have nothing to do with (D) versus (R).

Here are four indicators that the time is now if we're going to prepare for battle against the coming round of medical tyranny.


On TB every waking moment

Sri Lanka Mulls Taking On More Debt From China, India To Pay For Energy

THURSDAY, SEP 22, 2022 - 06:00 PM
Authored by Aldgra Fredly via The Epoch Times,

Sri Lanka is considering purchasing solar panels through a credit line from India and China to offset rising electricity tariffs, Power and Energy Minister Kanchana Wijesekara said on Tuesday.

The Sri Lankan government raised electricity tariffs by 75 percent in August, the first increase in nine years, triggering protest among local Buddhist clergy who were struggling to pay their electricity bills.

The Central Provincial Sangha of the Ramanya Nikaya said it would switch off the lights in all temples in the province on Poya Day—a Buddhist holiday—to protest against the increase in electricity costs, Daily Mirror reported.

Speaking in parliament on Tuesday, Wijesekara proposed using renewable energy sources and installing solar panels for religious institutions, particularly those that pay higher electricity charges.

“We have the problem of foreign exchange, making it difficult to pay for imports. One solution we have to think is to have a credit line from India or China as panels are imported from them,” he said, according to the Press Trust of India.

The state-owned Ceylon Electricity Board (CEB) is heavily in debt, owing more than 80 billion rupees ($225 million) in fuel costs and another 46 billion rupees ($129 million) to renewable energy suppliers.

Daily Power Cuts
Sri Lanka’s population of 22 million people has been struggling with hours-long daily power cuts due to the government’s acute lack of foreign currency to pay for essential imports.

The Public Utilities Commission of Sri Lanka (PUCSL) reportedly scheduled an 80-minute power cut on Tuesday and Wednesday, citing inadequate power generation caused by a fuel shortage.

A few weeks earlier, PUCSL imposed power cuts on Aug. 27 and Aug. 28, and later extended to Aug. 29 for the same reason. Sri Lanka also imposed a nationwide 13-hour power cut in March, according to local reports.

CEB Engineers Union President Anil Ranjith said at a press conference on Sept. 15 that Sri Lanka’s ongoing power cuts could continue for at least three years if the government refused to increase the nation’s electricity supply.

“The demand peaks at night times. The power mainly comes from hydro, thermal and, if there is wind, then from wind power plants. If we don’t have coal or oil, then we have to go for power cuts,” he said, Economy Next reported.

“Until we increase our supply, through thermal, wind, [liquefied natural gas], coal or solar, and store our energy, the power cuts will continue,” Ranjith added.

IMF Agreement
The International Monetary Fund (IMF) earlier approved a $2.9 billion bailout fund under a new 48-month Extended Fund Facility to help restore Sri Lanka’s macroeconomic stability and debt sustainability.

The IMF said that its deal with Sri Lanka is contingent on approval by IMF management and the executive board, as well as on financing assurances from Sri Lanka’s creditors, including China, Japan, and India.

President Ranil Wickremesinghe told reporters on Monday that Sri Lanka will hold talks with major creditors India, China, and Japan, as well as private creditors.

“While we look at our issues of debt, we also have to repay what we have borrowed. This means we need 25 years from now to 2048. Then we will be 100, by then will be a prosperous society,” Wickremesinghe said in his speech.

Sri Lanka defaulted its debt in May. The island nation has $10 billion in bilateral debt as of August, of which 44 percent is owed to China, according to the Finance Ministry (pdf). Japan holds 32 percent of Sri Lanka’s debt, while India holds another 10 percent.


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Central Bankers Are Gaslighting Us About The "Strong Dollar"​

THURSDAY, SEP 22, 2022 - 06:25 AM
Authored by Ryan McMaken via The Mises Institute,

On February 8, the Japanese yen fell to a 24-year low against the dollar, dropping to 143 yen per dollar. Not much has changed since then with the yen hovering between 142 and 144 per dollar. In September of 2021, one only needed 109 yen to buy a dollar.

Overall, the yen has dropped 21 percent against the dollar over the past year, yet Japan's central bank apparently has no plans to change course. Nor should we expect it to do so. Japan's debt load has become so immense that any attempt to raise interest rates or otherwise tighten monetary conditions would prove extraordinarily painful. So, it's no surprise the BOJ is now positioned to become the world's last central bank clinging to negative interest rates.

It's Not Just Japan​

The yen is sliding the most among the world's major currencies, but it's not alone. Over the past year, the euro has fallen 14 percent against the dollar while the pound has fallen 13 percent. Even the Chinese yuan, which is subject to even more currency manipulation than the West's central banks, has fallen against the dollar.

All of this means is we're hearing a lot about the supposedly "strong dollar," but not in a good way. Rather, the reputedly strong dollar is being discussed in a context of how harmful it is, and how we must explore ways to make the dollar weaker as soon as politically feasible.

Such talk must be heartily opposed, of course, as the dollar is not "too strong," Rather, talk of the dollar's "strength" is not really about the dollar at all. It's about the weakness of other currencies and it's about how other central banks have embraced monetary policy that's even worse than that of the US's Fed. If, say, other national governments and central banks are concerned about the dollar being too strong, those institutions are welcome to embrace policies that will strengthen their own currencies.

Instead, we'll hear about how the Fed must "do something" to weaken the dollar through more easy money and thus stick it to Americans who hold dollars by lessening their purchasing power.

"We Didn't Inflate Currency X Too Much, it's All the Dollar's Fault"​

A perfect example of how this rhetoric works comes from the Bank of Japan's Governor Haruhiko Kuroda in July. As the yen was really starting to slide against the dollar, he opined that "This is not so much a yen weakness as a dollar strength." Kuroda said these words after years of negative rates, and right after the BOJ had doubled down on buying up "vast quantities of bonds" to force down interest rates and borrowing costs. Kuroda's words also came weeks after the Swiss National Bank raised interest rates for the first time in 15 years. That was just one more example of how dovish the ECB was compared to other banks, and yet, Kuroda then manages to say with a straight face that this is all about the dollar.

This is the sort of talk we should learn to expect on the "strong dollar."

The central banks who are devaluing their currency, aren't to blame, you see. It's the dollar's fault.

Other critiques of the strong are less explicit on this last point and are more just in the business of priming the pump to convince us all that a relatively less-weak dollar is a bad thing.

Blaming a "Strong" Dollar Rather than Weak, Inflated Currencies​

Consider a CNN article from earlier this month titled "America's strong dollar is hurting everyone else." The article makes many correct factual statements. It notes that when the dollar is relatively less weak, countries with even weaker currencies will have greater trouble paying back debt denominated in dollars.

There's a whole lot of debt in the world denominated in dollars, including sovereign debt. The article also correctly notes that weaker currencies will have problems importing goods and services when payments must be made in stronger currencies. Think of the situation in Sri Lanka or Pakistan.

Moreover, when a less-weak dollar is due to relatively high interest rates in the dollar zone (as is currently the case) this can mean capital flight from countries with weaker currencies: investors want dollars to invest in relatively higher-interest US securities. That's all true, and it's all bad news for these countries whose currencies make the dollar look good by comparison. But note how the framing is all about placing the blame for these problems on a "strong dollar" rather than on the weakness of other currencies.

As a final example, consider Friday's article at CNBC about how a "strong dollar hurts investors." Specifically, "A strong dollar crimps income that companies earn abroad, since money brought in in the form of weaker foreign currencies is converted into fewer dollars." Again, this is technically true, but framing this as a "strong dollar" problem is an odd way of going about it. The real problem here isn't that the dollar is too strong. The problem is that the investors didn't properly anticipate the true risks involved in in investing in these other countries where central banks are at least as irresponsible as the American central bank.

In all these cases, the problem is never that the dollar is "too strong." The problem is that other central banks are even worse, and that depreciation of other currencies are causing instability, lost wealth, and economic crises.

The fact that American central bankers—forced by populist pressure mounting over CPI price inflation in the US—have slightly reined in monetary inflation in the US is hardly a reason to beat our breasts over the supposedly Herculean strength of the US dollar. Rather, we should be focusing on "the weak euro," "the wimpy yen," and the "tragic Sri Lankan rupee." Nonetheless, central bankers and their media allies are trying to gaslight us into thinking the problem is the dollar's strength. American central bankers are guilty of much, but it's not their fault that central bankers elsewhere are so often even more capricious.

If it all stopped there, then we might be able to just write it all off as a missed opportunity to learn the lessons of weak currency. But unfortunately, talk about a weak dollar often leads to political shenanigans. After Fed Chairman Paul Volcker substantially raised interest rates in the US in the early 1980s, the dollar became much stronger compared to foreign currencies. The alleged problems of a strong dollar soon became a popular topic among politicians, both foreign and domestic. French, German, Japanese, and British politicians then began lobbying the US government to devalue the dollar for the benefit of foreign currency. Three years later, US government politicians caved to pressure, spurred by half-baked economic orthodoxy about the alleged value of a weak currency.

American policymakers thus embraced the Plaza Accord in 1985 and the US dollar began to lose value and purchasing power soon thereafter. This, of course, came at the expense of American savers and consumers. The inflationists won, and a new generation learned that talk of a "strong dollar" is often quickly followed by calls for devaluation. It is unlikely to be any different this time.


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Two Easy Predictions: Wealth Tax & Windfall Tax

THURSDAY, SEP 22, 2022 - 05:45 AM
Authored by Charles Hugh Smith via OfTwoMinds blog,

Looks like we need another $500 billion or so. Hum baby!

Predictions are hard, especially about the future, but two predictions are easy:

1) governments that do not yet impose wealth taxes will do so within the next five years and

2) governments will impose windfall taxes on all outsized unearned gains, from any source, anywhere on the planet.

Glancing at the chart of federal tax revenues, we note a steep increase--hum baby! Governments have financial commitments, and these never seem to decrease, they only increase.


It's nothing personal, we just need more money. We have responsibilities and we made promises.

A few nations already have wealth taxes: for example, Norway, Spain and Switzerland. In Switzerland, the wealth to be taxed is self-reported, and the top rate is 1%. The Swiss wealth taxes account for 3.6% of tax revenue. It doesn't sound like much but every little bit helps, right?

That 3.6% of tax revenues applied to the U.S. tax revenues equals a cool $108 billion. That's a useful sum.

Self-reporting isn't going to cut it once tax revenues are viewed as inadequate. Third-party reporting will be required so wealth can't be under-reported, and the Foreign Account Tax Compliance Act (FATCA) already requires foreign entities to report U.S. account holders' data.

It really doesn't take much social-media research and forensic accounting to figure out whose reported income and wealth doesn't match their lifestyle and reported assets. Wealthy people tend to avoid going to hellhole prisons, and so tossing a few tax-cheat scoundrels in prison for tax evasion will set a banquet of consequences relatively few will risk being served.

The justification for a wealth tax is obvious: you got rich because the system enabled it, so you owe the system a slice of the wealth you only gained by participation in the system. If you think you can get rich to the same degree (and keep your wealth) in Lower Slobovia, be our guest--move to Lower Slobovia. But please note whatever income and wealth you acquire there must be reported to U.S. authorities.

Windfall taxes were famously applied to oil company profits in the 1973-74 oil price spike. The thinking went: you didn't do anything to earn the extra profits by investing in greater productivity, etc.--you just lucked into a windfall, which you are obligated to share with the system that enabled you to create a big, wealthy corporation. Oh, and the windfall tax is on global earnings and profits.

Hollywood accounting--no movie no matter how big the box office ever makes a profit--is not going to fly. We'll take a flat 15% of all revenues as a back-up and you have the opportunity to prove your legitimate profit was less.

Why limit windfall taxes to corporations? How about all those Bitcoin Whales, mansion-flippers and meme-stock millionaires? These gains were all unearned, and so by definition they're windfalls.

So gold goes to $10,000 an ounce--did you earn those gains? No. So you owe a wealth tax, of course, and a windfall tax whenever and wherever you sell. If you fail to report the sale, you risk a tenner (10-year sentence) in a federal pen. Are you feeling lucky, punk?

We can also imagine a Wealth Hoarding Tax to recover some of the wealth that the wealthy are hoarding by refusing to sell any of it. (Only the wealthy have enough wealth to hoard, by definition.)

Since the world is filled with skims, scams and frauds, we can also imagine a Wealth Protection Plan which transfers terribly at-risk money socked away in pension plans, IRAs and 401Ks into Treasury bonds for safekeeping. You'll thank us later for restricting your gambling addiction.

As for renouncing citizenship to evade taxes--we have a plan for that, too. Anyone who owns any U.S.-based asset, security, collectible or financial instrument--anything that can be bought or sold--has to report that for wealth tax purposes. If you benefit from participating in the system, you have to pay your fair share. This goes for citizens of Lower Slobovia, too.

The lyrics to The Beatles' song Taxman are instructive:

Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman
Yeah, I'm the taxman

Should five percent appear too small
Be thankful I don't take it all
'Cause I'm the taxman
Yeah, I'm the taxman

Looks like we need another $500 billion or so. Hum baby!


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Global Food Crisis Worsens As Hunger Hotspots Identified

THURSDAY, SEP 22, 2022 - 05:00 AM

World Food Programme (WFP) and the Food and Agriculture Organization of the United Nations (FAO) are out with a new report outlining countries that "are either already starving or on the brink of disaster."

WFP and FAO found 19 hunger hotspots worldwide, with most countries in Africa, the Middle East, and even some in Central America. They call for urgent humanitarian action between October 2022 and January 2023 to avoid "huge loss of life."

Afghanistan, Ethiopia, South Sudan, Somalia, Nigeria, Yemen, and Haiti are labeled "hotspots of highest concern," facing catastrophic hunger levels.

Chiara Pallanch, the Senior Analyst in the Analysis and Early Warning Unit at WFP, said the "world is facing a food crisis of unprecedented proportions, the largest in modern history. Millions are at risk of worsening hunger unless action is taken now."

"We have a choice: act now in the face of these unprecedented needs, to save lives and invest in solutions that secure stability and peace for all.
Otherwise, we will see people around the world face rising food insecurity – and even famines – driving migration, unrest and conflict.

"There is now a very real risk that food and nutrition needs across the globe may soon outstrip WFP's or any organization's ability to respond," Pallanch said.

Meanwhile, in a separate report, the heads of global humanitarian and financial institutions warned:

The war in Ukraine continues to exacerbate the global food security and nutrition crisis, with high and volatile energy, food and fertilizer prices, restrictive trade policies, and supply chain disruptions.

Despite the reprieve in global food prices and the resumption of grain exports from the Black Sea, food remains beyond reach for many due to high prices and weather shocks. The number of people facing acute food insecurity worldwide is expected to continue to rise.

Fertilizer markets remain volatile, especially in Europe, where tight natural gas supplies and high prices have caused many producers of urea and ammonia to stop operations. This may reduce fertilizer application rates for the next crop season, prolonging and deepening the impact of the crisis.

None of this should come as a surprise to readers. As we recently pointed out, David Beasley, executive director at the UN World Food Programme, recently indicated the world's food security conditions are "worse" than what was observed during Arab Spring over a decade ago.

FAO's world food index still holds above levels that triggered social unrest across the Middle East and toppled governments in 2011, known as the "Arab Spring."

It looks like a global food crisis could rear its ugly head in 2023. We've pointed out "The Stage Is Being Set For A Massive Global Rice Shortage" and asked: "Major Food Crisis Coming In 2023?"

What's important to know is that countries most susceptible to food shortages risk a flare-up in social unrest. It's probably best if you avoid those regions in 2023.


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Despite Mass Layoffs, Jobless Claims Continue To Slide​

THURSDAY, SEP 22, 2022 - 05:37 AM

It appears the mysterious Q2 labor market weakness seen in initial jobless claims data is over. The number of American filing for unemployment benefits for the first fell was 213k last week.

Continuing jobless claims also slipped from 1.401mm to 1.379mm Americans.

Non-Seasonally-adjusted initial jobless claims bounced very modestly of record lows last week...

This improvement comes as economic growth weakens, stocks crash and corporate layoff announcements surge...

If the labor market is really that tight that these laid off workers are instantly finding jobs and not going on the dole, then Powell is right when he says there's a lot more pain to come.

(COMMENT: Looking at the most recent output from Edward Dowd, it was always presumed that, post- COVID, the workers were lazy and didn't want to come back to work. Dowd shows that indications are that, because of Biden's mandatory shot, adults in the work force (identified as having group insurance through their work,) were hit by a higher degree of excess mortality and disability than those who were retired, young or not in the workforce. Perhaps we no longer have the level of a healthy, able workforce that we had pre-COVID. Has this been taken into consideration in the employment figures?


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Looking At The Economic Myth Of The "Soft Landing"​

THURSDAY, SEP 22, 2022 - 10:40 AM
Authored by Frank Shostak via The Mises Institute,

According to commentators, countering inflation requires monetary authorities to actively restrain the economy, with “experts” believing that higher interest rates need not cause an economic slump. Instead, they believe that the Fed can orchestrate a “soft landing.” It is questionable, however. that a soft-landing scenario is possible.

Money Printing Creates Economic Damage

If inflation is defined as increases in the money supply rather than increases in prices, then it becomes clear that all that is required to counter it is to close all the loopholes for the generation of money out of “thin air.” The increases in the money supply and not increases in prices inflict damage to the wealth generation process.

Originally, paper money was not regarded as money but merely as a representation of gold. Various paper money receipts represented claims on gold stored with the banks. The holders of paper receipts could convert them into gold whenever they deemed necessary. Because people found it more convenient to use paper receipts to exchange for goods and services, these receipts came to be regarded as money itself.

By fulfilling the role of the medium of exchange, money enables something to be exchanged for it and this, in turn, enables the received money to be exchanged for something else, also by means of money. If the receipts for gold that are accepted as genuine money are backed by gold. there will be an honest exchange—i.e., something for something or wealth for wealth.

In contrast, receipts not backed by gold, which are employed in an exchange, set in motion an exchange of nothing for something. The unbacked receipts are not proper money, which is gold. By means of the unbacked by gold receipts, goods are diverted from wealth generators to the holders of the unbacked by gold receipts. This in turn weakens wealth generators and in turn weakens the process of wealth formation.

To clarify this point further, consider counterfeit money, which is generated by a forger. The forged money looks exactly as the genuine money. Also, note that the honest money is obtained by selling some useful goods for it. Thus, a potato farmer has obtained the one ounce of gold by selling ten potatoes for it. In contrast, no goods are exchanged to obtain the phony money. The forger just prints the phony money, hence the counterfeit money emerged out of “thin air.”

As soon as the forged money is exchanged for goods, nothing is exchanged for something. This leads to the channeling of goods from those individuals that have produced goods to the forger in return for nothing. In this sense, increases in the money supply out of “thin air” always set in motion an exchange of nothing for something. Alternatively, we can also say that the money supply out of “thin air” leads to consumption without the preceding production of goods.

Money Supply Out of “Thin Air” and Boom-Bust Cycles

On a pure gold standard where money is gold, an increase in the unbacked by gold receipts constitutes an increase in the money supply out of “thin air.” In the modern world, the money supply is similar to the unbacked by gold receipts, since the money supply is without any gold backup. Hence, in the modern world any increase in the money supply constitutes an increase in the money supply out of “thin air.”

Consequently, in the modern world an increase in the money supply—i.e., money supply out of “thin air,” sets the platform for nonproductive activities, consumption without the production of anything of value. For instance, a counterfeiter embarking on the purchases of various goods is stimulating support for these goods. The increase in the production of these goods would not emerge, all other things being equal, in the absence of the increase in the phony money supply.

Savings that are required to support the production of goods demanded by the counterfeiter are channeled toward the production of these goods. As a result, this undermines the production of goods by wealth generators.

Once the counterfeiter’s activities are exposed and the falsifier is forced to slow down on the activities of falsification or stop the act of forgery entirely, the support for various goods that the counterfeiter demands begins to slow down or comes to a halt altogether. As a result, the production of these goods also begins to slow down or come to a halt.

An economic boom features the increase in the production of goods that initially occurs because of the increase in the money supply out of “thin air.” When the production of goods ultimately declines because of the decline in the money supply out of “thin air,” we call it an economic bust. Hence, what we have here is a boom—bust cycle due to changes in the growth rate of unbacked money.

Central Bank Interest Rate Policies Distort Market Signals

In a free market, interest rates fluctuations mirror changes in consumer preferences regarding present versus future consumption. If consumers prefer to consume less at present versus future consumption, this results in a decline in the market interest rates, and, conversely, if consumers consumer more in the present, this is followed by an increase in market interest rates.

A decline in interest rates in a free market emerges in response to consumers lowering their preference toward present consumption versus future consumption. Business owners, if they want to succeed, must abide by interest rates signals. This means that business owners must allocate resources toward the buildup of an infrastructure in order to be able to produce some time in the future a larger quantity of various consumer goods.

Whenever, the central bank tampers with financial markets and manipulates market interest rates, this falsifies consumers’ instructions to businesses. As a result, businesses invest in the wrong infrastructure that is not in line with consumers’ wishes. Because of the misallocation of resources, the process of economic impoverishment is set in motion.

Raising Interest Rates Also Will Undermine the Economy

Another problem with a tighter interest rate policy is that it not only undermines nonproductive activities, but also wealth generating activities, thereby prolonging an economic slump by slowing down the expansion of the pool of wealth. Thus, it is not possible to devise a policy that will curtail nonproductive activities without inflicting pain to the economy.

The so-called soft landing term is borrowed from the idea that economy can be regarded as a spaceship that slipped from a trajectory of stable economic growth and price stability. By a popular way of thinking, it is the role of the central bank to make sure that economy follows along the path of stable economic growth and price stability.

This view states that all that is required to fix the problem is for the central bank to give a suitable push to the economy—i.e., the spaceship—to bring it back to the correct path. The push is done by means of monetary policy. The economy, however, reflects activities of individuals. Any tampering with individuals’ conduct only generates further distortions. Hence, it is a fallacy that central bankers can navigate the economy without generating various side effects to individuals.

This, however, is not the view of economic commentators such as Paul Krugman. In a recent New York Times article, “Must We Suffer to Bring Inflation Down?” (August 23, 2022), Krugman suggests that by means of suitable government controls it is possible to orchestrate a soft landing.


We suggest that it is not possible to have such a thing as a “soft landing.” Once an economic boom was set in motion by means of easy monetary policies by the central bank, a tighter monetary stance is going to activate an economic bust.

The economic hardship can be mitigated by a quick closure of all the loopholes for the creation of money out of “thin air.” This will work toward the expansion of the pool of wealth. With the increase in the pool of wealth, it is going to be much easier to absorb various misallocated activities.


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Inflation May Cost Average US Family Extra $11,500 This Year​

By Katabella Roberts
September 22, 2022 Updated: September 22, 2022

Americans are set to pay an extra $11,500 this year if they want to enjoy the same standard of living they maintained in 2020, according to new estimates from NerdWallet.

The estimates, published in August, were based on inflation and annual spending data from the U.S. Bureau of Labor Statistics (BLS). Analysts at the personal finance company looked at how spending would compare this year to 2020, when the COVID-19 pandemic began.

Analysts said 2020 was the “last full year when inflation was relatively stable.” In that year, the U.S. inflation rate was 1.23 percent.

As of August, inflation in the United States stands at 8.3 percent, according to BLS data.

“In all of 2020, American households spent $61,300, on average,” the analysts wrote. “This number includes everything we spend our money on housing, food, entertainment, clothing, transportation, and everything else.

“In 2022, it stands to reach $72,900, a difference of more than $11,500 if consumers want to maintain the same standard of living.”

NerdWallet analysts said this is an average estimate, and therefore, one that’s “exact to a very few.”

“Those who earn (and therefore spend) more will see more dramatic dollar increases. Those who earn less may see less dramatic dollar jumps, but the impact of these rising prices could be more significantly felt,” they wrote.

According to analysts, total monthly household expenditures are up by $961 from 2020, while spending on groceries is up by $101. Shelter is up by $120 and household utilities are up by $70 per household, while gasoline has risen by a whopping $209.

Another Fed Rate Increase​

NerdWallet noted that spending figures for 2020 were less than typical, given that COVID-19 pandemic restrictions meant that fewer people were commuting or paying for child care and entertainment, resulting in an overall decline in spending.

“It’s a safe assumption that people will spend less in certain categories this year too, if for no other reason than avoiding high prices,” the analysts wrote.

“This is primarily why we think spending in 2022 will be more similar to 2020 than 2019, for example, another year for which such spending data was available.”

A separate analysis from the Republican members of the House Joint Economic Committee estimates that inflation is now costing U.S. households an extra $717 each month, although that’s even higher in the states of Colorado ($937), Utah ($910), and Arizona ($833).

On an annual basis, the committee estimates that households will have to pay an extra $8,607.

The Federal Reserve approved another 75 basis points hike on Sept. 21 to a target range of 3 percent to 3.25 percent and indicated that more large increases were on the way in an effort to cool down red-hot inflation.

“Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures,” the Fed said in a statement.

Fed officials also cited Russia’s war in Ukraine for creating additional upward pressure on inflation and adding weight to global economic activity.
U.S. President Joe Biden insisted earlier this week in an interview on CBS’ “60 Minutes” that inflation “hasn’t spiked” in recent months and that it remains “basically even.”


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WATCH: Creepy Bill Gates Just Posted Another Bizarre Video — This Time He’s Promoting Genetically Modified Corn To Save Us From A Famine During The Planned ‘Climate Crisis’​

By Alicia Powe
Published September 22, 2022 at 5:25pm


Bill Gates published a new video promoting genetically modified corn.

Gates is featured in the video lip-singing song lyrics sung by a child as he stands in a kitchen wearing t-shirt emblazoned with, “Ask me about corn.”

“It’s corn!” Gates exclaims, as he takes a large bite out of a corn ear. “It has the juice!”

The 27-second video also features a photo of Gates as a child holding a corncob in a corn field.

Corn “accounts for 30% of the food consumed in Africa. But it is at risk. African crop researchers are creating a new, more resilient type of corn,” the caption on the video states.

.26 min

The video is another attempt by Gates, the fourth richest person in the world and the top financier of the World Health Organization, to condition the public to accept the Great Reset agenda that he and his predator-class allies would like to impose on the world.

The sixth annual Goalkeepers Report, published by The Bill and Melinda Gates Foundation on Sept. 12, highlights how two of the United Nation’s Sustainable Development Goals, food security and gender equality, are being achieved.

The report lauds what Gates calls “magic seeds,” crops including corn and rice that have been genetically modified to resist hotter, drier climates, as a remedy to alleviate world hunger.

“Of course,” Gates writes, “the seeds weren’t actually magic, but by breeding select varieties of the crop, the researchers believed they could produce a hybrid maize that would be more resistant to hotter, drier climates. They succeeded wildly.”


The Gates Foundation ” has invested heavily in farming technology, including a type of corn seeds that thrive at higher temperatures and in drier conditions, known as DroughtTEGO,” Daily Mail reports. “The seeds were first developed under a program of the African Agricultural Technology Foundation, to which the Gates Foundation has given $131 million since 2008.”

Doris Muia, 45, compares a cob of the recycled maize seed corn with the larger cobs of the hybrid, climate resistant maize seed crop in Machakos, Kenya on March 2, 2021. Climate change is having a significant impact upon smallholder, African farmers in the form of irregular rains and drought.

Gates made billions running Microsoft and then suddenly emerged as a self-proclaimed expert on vaccinations.

The corporate press and fact-checkers insist claims that Gates is a eugenicist are premised on conspiracy theories, but the 66-year-old business magnate has openly advocated using vaccines to reduce population growth and lower carbon emissions.

“The world today has 6.8 billion people,” Gates explained during a 2010 TED Talk. “That’s headed up to about 9 billion. Now, if we do a really great job on new vaccines, health care, reproductive health services, we lower that by perhaps 10 or 15%.”

Gates is currently the largest farmland owner in the United States, owning at least 242,000 acres across 18 states as of January 2021

As the Gateway Pundit has reported, Gates is also a top investor in Memphis Meats, a group of radical animal activists working in a lab to grow meat from livestock cells and end livestock production in the US.

By acquiring more farmland than anyone else in America, Gates can dictate what will and won’t be produced on American farms.

Creepy Bill Gates is going to change your diet whether you want him to or not.