GOV/MIL Main "Great Reset" Thread

marsh

On TB every waking moment

"Prices Must Come Down": Germany Redeploys COVID Cash To Fight Inflation​

THURSDAY, SEP 29, 2022 - 07:35 AM

In the strange 'upside down' world of politicians, Germany is joining an array of other nations that have decided the way to ease the pain of (government intervention-enabled) inflation on their citizens is by throwing more money at it.

In order to limit the impact of soaring energy costs - and avoid the social unrest that is now becoming discussed more loudly in the bureaucratic corridors of power in Brussels - Chancellor Olaf Scholz’s administration is preparing to redeploy funds from its COVID preparedness piggybank (which will be added to in order to reach the €200 billion ($194 billion) sum that the government believes is necessary) to put a lid of soaring gas prices.

“Prices must go down,” Scholz said at a press conference in Berlin.
“To reach this goal, we are opening a big umbrella.”

Lowering prices by decree?

This, of course, will do nothing to reduce consumption as winter is coming and shortages loom.

In fact, as OilPrice.com's Irina Slav reports, Germany's gas consumption rose too much last week to levels higher than in previous years, and without considerable gas conservation - including from households - Europe's biggest economy will find it difficult to avoid gas shortages this winter, Germany's Federal Network Agency, Bundesnetzagentur, said on Thursday.

The irony of all of this is that it comes as German inflation reached double digits for the first time since the euro was introduced more than 20 years ago, surging more than anticipated after temporary government-relief measures ended and Europe’s energy crisis worsened.

Starting from today, the agency—the regulator to impose rationing in case of severe shortages—will publish weekly figures about gas consumption in Germany. Last week's consumption from businesses and households at 483 GWh/week was well above the average seen throughout the 2018 to 2021 period when it was 422 GWh/week. Last week, German gas consumption rose by 14.5 percent compared to the average of the previous years, mostly because that week was colder than comparable weeks in the past four years.

However, the savings needed to avoid gas shortages should be achieved regardless of temperatures, the German regulator said today.

"Without significant savings, also in the private sector, it will be difficult to avoid a gas shortage in the winter," the agency's president Klaus Müller said.

The past week's gas consumption numbers are very sobering, he added.

Germany's gas storage sites are over 91% full, but the country will survive the winter without rationing and shortages only under three conditions, Müller said.
  • First, bringing the projects for LNG imports online,
  • Second, gas supply in Germany's neighbors remaining stable, and
  • Third, Germany conserving gas even when it gets colder as winter approaches, he added.
If the coming winter is colder than usual, Germany could see severe nationwide gas shortages, which it will not be able to predict more than two weeks in advance, Müller said earlier this month.

"I can't give an exact forecast of where the risk of a shortage is the greatest," Müller told German business daily Handelsblatt in mid-September.

"If we get a very cold winter, we have a problem."

While little to no details of exactly how this will be achieved have been released, we can't help but see the ugly reflections of UK's Truss plan to cap energy bills with an unlimited exposure to the UK balance sheet.

Weimar here we come again?



The irony of all of this is that it comes as German inflation reached double digits for the first time since the euro was introduced more than 20 years ago, surging more than anticipated after temporary government-relief measures ended and Europe’s energy crisis worsened.
 

marsh

On TB every waking moment

Aaaand It's Gone...

THURSDAY, SEP 29, 2022 - 06:53 AM

No-show from The Bank of England this morning to 'save the world' and some 'good news' from US labor markets - not at all what The Fed wants to see - and the result is a plunge-gasm in US equity markets, erasing all of yesterday's meltup/short-squeeze gains...

1664497669941.png

...as rate-hike expectations are on the rise again (Fed must try harder to hammer the jobs market).

Elsewhere things are relatively quiet: Bonds are only up around 3-5bps in yield, the dollar is flat, and gold is down only modestly.

1664497723828.png

Academy Securities' Peter Tchir notes that the market weakness was driven by a slew of data overnight (and this morning):

German inflation was high.

Really? A country that is preparing for rationing energy this winter is experiencing inflation? The “signal” in that information, for U.S. or even global rates seems low.

The UK Prime Minister spoke and neither the gilts nor the pound liked her message.

The pound is already higher and gilts off the lows, indicating how much is already priced in. gained ground, highlighting how much was already priced in.

Why do we all care so much about England? According to World Bank GDP data, the UK was $3.2 billion in 2021. The 6th largest economy at 3.3% of global GDP. The US at 24%, China at 18.5% dwarf the UK. Yet people fixate on the UK and Bank of England (and the Royals) with a disproportionate amount of energy. Italy at 2.1% has a new leader that barely anyone is discussing. There are literally no searches for the Bank of Canada, despite being 2.1% of global GDP and being the U.S.’s largest trading partner with $664 billion of total trade in 2021 compared to the UK’s $117 billion. Mexico, will barely over 1% of GDP represents almost the same amount of trade as Canada, yet markets aren’t wringing their hands about Mexico policy and I’m willing to bet that fewer than 10% know who is in charge of the bank of Mexico! Since the pound averaged 1.37 in 2021, and not all Brexit issues had kicked in, their economy is even less important than it was. The gilt market at $1.78 trillion is large, but again, the awe with which we watch it, seems disproportionately large.

Jobless claims were strong.

That currently qualifies as bad news (please see The Good, The Bad and the GoodBad). Will that strength show up in next week’s job data? That would weigh on markets.

PCE Data.

The Core PCE rose at a 4.7% rate. That was revised up from 4.4%. You could take that as a sign that the PCE data will be higher tomorrow than expected, but the “comps” will be easier now.

Much of this falls under the same category as having yet another market sell-off on the exact same Fed statements, but some (like the UK) seems to be an over exaggeration of the importance of some news. Understandable in a very nervous, very illiquid market.

Company news and signs of a recession worry me far more than most of what is driving the market today, and I’m still stuck in the mode that a lot of negativity is priced in, and we might just get a glimmer of a “soft landing” that creates the next decent bear market rally. It won’t last as the soft landing will be an illusion that likely takes us to full on “risk-off” mode, but we aren’t there yet and I think as people really digest the data and how we are reacting to it, cooler heads may prevail.

All of this in an environment where small positioning and option usage is the best I can come up with (no pound the table, all-in, positioning).

^^^^
View: https://www.youtube.com/watch?v=-DT7bX-B1Mg
1:40 min

And it's gone (original)​


Apr 20, 2013
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=IHwt-BiMAeE
6:20 min

It's Really Happening...​

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The Economic Ninja

Many people have no idea what is about to happen to their jobs and lifestyles as the economy collapses right now before our eyes.

(Because of the FED raising interest rates to counter inflation, two countries experienced a currency collapse and had to intervene. UK and Japan. Ripples are going through global currencies.)
 

marsh

On TB every waking moment
Michael Yon @MichaelYon
Sep 29, 2022 at 8:34pm
Florida: Possible Major Fertilizer Disruption
30 September 2022
Dublin, Ireland

This tiny area in Central Florida is one of the major phosphate fertilizers in the world. I know it well because I grew up in the same county just down the road in Winter Haven. Earlier this year I was out in this phosphate area hunting sharks teeth and researching fertilizer issues. I say these things as preface to say this is a serious issue if there is serious damage. Must wait and see. First reports are always…

^^^^
This is Mike Adams, who I believe is on the no post list. Here is the link and headline from Michael Yon (I believe Mike Adams is prone to sensationalism)


Hurricane Ian takes out FERTILIZER production for North America, power grid DOWN, widespread supply chain damage
 

marsh

On TB every waking moment
Michael Yon @MichaelYon
Sep 29, 2022 at 7:18pm
Famine Warning
30 September 2022
Dublin, Ireland

I’ve been telling anyone who will listen. The most important mission I’ve ever accepted.

Take a leadership position. Prepare your network. Alone we are weak. Together we are strong. I don’t plan to just survive this. I plan to help my network sail through these stormy waters and out the other side.

View: https://youtu.be/TNnxFvHPGjw
17:04 min
Michael Yon on the danger of a food crisis - The Laughland Report
Sep 28, 2022

Forum for Democracy
Michael Yon is an author, photographer and war correspondent, who has previously served in the American special forces and has spent more time embedded in violent conflicts around the world than anyone alive.

For this second edition of the Laughland Report, FVD International director John Laughland interviews Michael Yon on the issue of upcoming future food shortages around the world and all the consequences that will bring.
 

marsh

On TB every waking moment

Federal Reserve announces major ‘pilot exercise’ for ESG social credit score system

"Climate finance" is almost identical to that of the Chinese Communist Party's social credit score system.

Jordan Schachtel
3 hr ago

The Federal Reserve has taken a major step in the direction of facilitating an ESG compliant monetary network that effectively acts as a parallel system to that of the Chinese Communist Party’s infamous social credit scoring system.

The Dossier is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

The Fed said in a statement Thursday:

“Six of the nation's largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks. Scenario analysis—in which the resilience of financial institutions is assessed under different hypothetical climate scenarios—is an emerging tool to assess climate-related financial risks, and there will be no capital or supervisory implications from the pilot.”

In other words, The Fed is working with the big banks to monitor their ability to comply with the ruling class’s preferred enviro statist technocratic tyranny.

The unaccountable people behind the American money printer claim that this exercise is “exploratory in nature and does not have capital consequences.”

The statement adds that the “scenario analysis can assist firms and supervisors in understanding how climate-related financial risks may manifest and differ from historical experience.”

What exactly does this mean?

The Fed is clearly leaning in to the climate hoax narrative, or the pseudoscientific idea that humans are catastrophically impacting the climate, but not because they somehow care about the environment. The climate narrative is the chief rhetorical facilitator for the ESG (Environmental, Social, and Governance) movement.

ESG acts as a trojan horse for the continuing centralization of the American financial system. ESG finance, popularized by hyper political asset management behemoths like BlackRock and Vanguard, acts to prevent outsiders from challenging the regime-connected insiders on Wall Street and in Washington, under the guise of acting to manifest a healthier planet. In other words, pro-ESG institutions are committed to attacking free market principles by means of deception, preferring the CCP-style “stakeholder capitalism” that allows for a small group of technocratic elites to make broad determinations about society.

Unsurprisingly, the legacy media has thus far cheered The Fed’s plan, with The New York Times reporting “that it often lagged behind its global peers when it comes to talking about and coming up with a plan for policing risks related to climate change.”

1664501097670.png

The ESG “green transition,” frequently popularized by powerful world governments and the Davos elite, has served as the main vehicle for this movement. Akin to the Chinese social credit score, which is used to coerce businesses, and, by extension, individuals, into specific actions, ESG rules force individuals and businesses in America to deploy capital through the gatekeepers of the system.

The Federal Reserve statement continues:

“By considering a range of possible future climate pathways and associated economic and financial developments, scenario analysis can assist firms and supervisors in understanding how climate-related financial risks may manifest and differ from historical experience.”

The banks involved in this pilot program are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo.

Of course, it’s just a scenario, until it’s not. The Fed pilot program is set to launch in early 2023.
 

marsh

On TB every waking moment

Revised Q2 GDP Surprises With Unexpectedly Hot Personal Consumption, Core PCE​

THURSDAY, SEP 29, 2022 - 05:56 AM

Traditionally the third and final US GDP estimate is the most irrelevant and meaningless economic data print as it looks at a data point that was relevant some 3 months ago, but today may have been an exception because alongside the actual data the BEA release comprehensive data revisions going back years, which materially changed some of the US economic make up, if not the bottom line number: the BEA reported that (after two revisions), the Q2 GDP dropped -0.6%, in line with expectations and unchanged from the previous, 2nd estimate.



But while the headline GDP number was unchanged from the previous estimate, personal consumption was notably revised to have risen 2.0% in 2Q after rising 1.3% prior quarter, its contribution to the bottom-line change in GDP at 1.38% in 2Q, up from 0.99% one month ago and almost double the initial Q2 personal consumption estimate of 0.70% back in July.

This means that the BEA has pulled much more spending from the current quarter into Q2 and Q3 - and Q4 - are going to get really messy.

Among the other updates to the GDP data, the biggest change was the upward revision to consumer spending that was offset by a downward revision to exports. Imports were revised down

Looking at the details, we find the following change:
  • Personal Consumption contributed 1.38% to the bottom line, up from 0.99% in the 2nd estimate
  • Fixed investment subtracted -0.92%, vs -0.84% last
  • The change in private inventories subtracted -1.91% vs -1.83% last
  • Net exports (exports less imports) added 1.16% to the bottom line number, vs 1.43% last. With the dollar exploding higher, don't expect this to be repeated.
  • Government consumption was flat at -0.29%, vs -0.32% last.
Some more details on the qualitative changes:
  • The decrease in inventory investment primarily reflected a decrease in retail trade (led by “other” general merchandise stores).
  • The decrease in housing investment primarily reflected a decrease in brokers’ commissions.
  • The decrease in federal government spending primarily reflected a decrease in nondefense spending.
  • The decrease in state and local government spending was led by a decrease in investment in structures (notably, educational and highway and street structures).
  • The increase in imports reflected an increase in services (led by travel).
  • The increase in exports reflected increases in both goods (led by industrial supplies and materials) and services (led by travel).
  • The increase in consumer spending reflected an increase in services (led by food services and accommodations as well as “other” services) that was partly offset by a decrease in goods (led by food and beverages).
Today’s release includes estimates of GDP by industry, or value added—a measure of an industry’s contribution to GDP. Private goods-producing industries decreased 10.4 percent, private servicesproducing industries increased 2.0 percent, and government decreased 0.2 percent. Overall, 9 of 22 industry groups contributed to the second-quarter decline in real GDP.
  • The decrease in private goods-producing industries primarily reflected decreases in construction and nondurable goods manufacturing (led by chemical products manufacturing).
  • The increase in private services-producing industries primarily reflected increases in health care and social assistance (led by hospitals); professional, scientific, and technical services (led by computer systems design); real estate and rental and leasing (led by real estate); and accommodation and food services (led by food services). Partly offsetting these increases was a decrease in wholesale trade.
  • The decrease in government reflected decreases in federal (led by federal government enterprises) as well as state and local governments.


Finally, there was another key post-revision surprise: the headline price index rose 9.0%, above the 8.9% estimate, while core PCE increase 4.7%, also above the 4.4% estimate.



In kneejerk reaction, S&P futures extended losses after the revised GDP data signaled the Fed will likely need to keep tightening, due to the hotter-than-expected 2Q core PCE and personal consumption figures. Also, as noted earlier, weekly jobless claims unexpectedly fell to the lowest since April as well, another sign the labor market remains tight.

Of course, the GDP data is dramatically backward looking which is why we expect the market's fascination with the stronger components to fade quickly as attention then turns to just how ugly the GDP will be in the current quarter.

And speaking of that, we will get the final Q3 Atlanta GDP print tomorrow: as of Sept 27 it was 0.3%. The question is whether the data since then was ugly enough to push it into red signifying a 3rd consecutive quarter of declining GDP which not even Biden will be able to pretend is not a recession.
 

marsh

On TB every waking moment

Aluminum Surges Most On Record As LME Considers Russia Ban​

THURSDAY, SEP 29, 2022 - 05:21 AM

The closer we get to year end, the more we are reminded of the turbulent days of February and March when commodity prices soared to record highs on fears Russian supplies would be permanently taken off the market. And while commodities as a whole are sharply below those levels, and in many cases are even down on the year, every now and then we get a reminder just how complacent the market has become when it comes to continued Russian commodity supplies.

Today was such a day for aluminum, which soared by a record 8.5% on the London Metal Exchange after Bloomberg reported the exchange plans to discuss a potential ban on new Russian metal supplies. Prices for the most widely used base metal spiked to $2,305 a ton in the biggest intraday gain on record. Nickel rallied 5% and zinc more than 4%, paring sharp losses for industrial metals so far this month, sparked by market fears that an imminent recession will collapse demand.



Citing sources, Bloomberg reports that "the LME plans to launch a discussion paper on whether and under what circumstances it should block new supplies of Russian metal from being delivered to its network of warehouses."

The reason for the resulting spike in prices is that any move by the LME to block Russian supplies could have significant ramifications for the global metals markets, as the country is a major producer of aluminum, nickel and copper. Fears that sanctions could disrupt Russian nickel exports helped trigger a massive short squeeze on the LME in March.

While launching a discussion paper doesn’t mean the LME has made any decisions about what it will do, the move marks a shift in approach. The exchange had previously said it did not plan to take any action outside the scope of sanctions, which have for the most part left large Russian metal producers like Rusal and Norilsk Nickel untouched.

“The LME continues to take the required action to ensure market stability in response to sanctions,” the bourse said in a statement Thursday. It will keep the situation under review as it prioritizes an “orderly market,” the LME said.
 

marsh

On TB every waking moment

This Thanksgiving, Supplies Of Turkey, Eggs, & Butter Will Be Extremely Tight In The US​

THURSDAY, SEP 29, 2022 - 06:40 PM

Authored by Michael Snyder via The Economic Collapse blog,

If you love to cook, this upcoming Thanksgiving may be a real challenge for you. Thanks to a resurgence of the bird flu, supplies of turkey are getting tighter and tighter. Sadly, the same thing is true for eggs. And as you will see below, reduced milk production is sending the price of butter into the stratosphere. Thanks to soaring prices, a traditional Thanksgiving dinner will be out of reach for millions of American families this year, and that is extremely unfortunate. Of course all of this is happening in the context of a horrific global food crisis that is getting worse with each passing day. Yes, things are bad now, but they will be significantly worse this time next year.

The bird flu pandemic that has killed tens of millions of our chickens and turkeys was supposed to go away during the hot summer months, but that didn’t happen. And now that the weather is starting to get colder again, there has been a resurgence of the bird flu and this is “devastating egg and turkey operations in the heartland of the country”…

Turkeys are selling for record high prices ahead of the Thanksgiving holiday as a resurgence of bird flu wipes out supplies across the US.

Avian influenza is devastating egg and turkey operations in the heartland of the country. If just one bird gets it, the entire flock is culled in order to stop the spread. Millions of hens and turkeys have been killed in recent weeks. As a result, prices for turkey hens are nearly 30% higher than a year ago and 80% above pre-pandemic costs. Just as concerning are inventories of whole turkeys, which are the lowest going into the US winter holiday season since 2006. That means there will be little relief from inflation for Thanksgiving dinner.

In the months ahead, we could see tens of millions more chickens and turkeys get wiped out.

Egg prices have already tripled in 2022 and the price of turkey meat is up 60 percent. Unfortunately, this is likely just the beginning…

Turkey hens are $1.82 a pound this week, according to Urner Barry, compared to $1.42 last year and $1.01 before the pandemic. Meanwhile, wholesale egg prices are at $3.62 a dozen as of Wednesday, the highest ever, up from a previous record of $3.45 a dozen set earlier this year, said John Brunnquell, chief executive officer of Egg Innovations, one of the biggest US producers of free-range eggs. Consumers have seen prices for eggs at grocery stores triple this year, while turkey meat rose a record-setting 60%, according to a Cobank report.

Meanwhile, supplies of butter are steadily getting tighter as well…

Lower milk production on U.S. dairy farms and labor shortages for processing plants have weighed on butter output for months, leaving the amount of butter in U.S. cold storage facilities at the end of July the lowest since 2017, according to the Agriculture Department.

Tight supplies have sent butter prices soaring at U.S. supermarkets, surpassing most other foods in the past year. U.S. grocery prices in August rose 13.5% during the past 12 months, the largest annual increase since 1979, according to the Labor Department. Butter outstripped those gains, rising 24.6% over the same period.

The trends that are driving up the price of butter aren’t going away any time soon, and so we are being warned to brace ourselves for “elevated” prices for the foreseeable future…

The forces at work in butter highlight the challenge of curtailing inflation. Economic pressures fueling high prices for livestock feed, labor shortages and other factors could persist, keeping prices for the kitchen staple elevated longer term.

To me, slathering a piece of warm bread with a huge chunk of butter is one of the best things about Thanksgiving.

And most of us will continue to buy butter no matter how high it goes.
But the truth is that rapidly rising food prices are forcing vast numbers of Americans to adjust their shopping habits. Here is one example…

For Carol Ehrman, cooking is a joyful experience.

“I love to cook, it’s my favorite thing to do,” she said. She especially likes to cook Indian and Thai food, but stocking the spices and ingredients she needs for those dishes is no longer feasible. “When every ingredient has gone up, that adds up on the total bill,” she said.

“What used to cost us $250 to $300 … is now $400.” Ehrman, 60, and her husband, 65, rely on his social security income, and the increase was stretching their budget. “We just couldn’t do that.”

The global food crisis is starting to hit home for many ordinary Americans, and we need to understand that this crisis is still only in the very early chapters.

David Beasley is the head of the UN World Food Program, and he is actually using the word “hell” to describe what is potentially coming in 2023…

“It’s a perfect storm on top of a perfect storm,” Beasley said. “And with the fertilizer crisis we’re facing right now, with droughts, we’re facing a food pricing problem in 2022. This created havoc around the world.”

“If we don’t get on top of this quickly — and I don’t mean next year, I mean this year — you will have a food availability problem in 2023,” he said. “And that’s gonna be hell.”

The World Food Program keeps sounding the alarm, but very few of us in the western world seem to be taking those warnings very seriously.

People are literally dropping dead from starvation in some areas of the globe right now, and a new report that the WFP just released says that there are 19 “hotspots” where we could see a “huge loss of life” between October and January…

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.

The sort of famines that we were warned about are already starting to happen right in front of our eyes, but most people simply will not care as long as they are not going hungry themselves.

What those people do not realize is that this global food crisis is going to continue to spread.

As supplies of food get tighter and tighter, prices will continue to soar and shortages will become more common.

We truly are in unprecedented territory, and the pain that is ahead will greatly shock all of the lemmings that just kept assuming that everything would work out just fine somehow
 

marsh

On TB every waking moment

"As Soon As Possible": US Preparing To Wean Itself Off Russian Nuclear Fuel​

THURSDAY, SEP 29, 2022 - 06:20 PM

Russia's dominance in the global nuclear fuel market presents another massive challenge for Washington, especially the liberal hawks in the Biden administration, who are trying to wean Western countries off Russian energy supplies.

Secretary of Energy Jennifer Granholm said President Biden is redoubling efforts to break the US reliance on Russian nuclear fuel, indicating domestic uranium-enrichment capacity could be increased with upcoming key legislation.

"We are going to get Congressional support in a bipartisan way for us to make our own fuel cycle supply chain independent, certainly of Russia," Granholm said in an interview at the International Atomic Energy Agency in Vienna, Bloomberg quoted.

"We've got to make this happen for our own independence and national security," she continued.


Bringing on new capacity could take years. For instance, uranium extracted from mines to refine into fuel for nuclear reactors takes three to five years.

Russia controls about two-fifths of the global enrichment services market and supplies almost a quarter of the fuel for the US' 93 operational nuclear reactors. This is another chokepoint the US is trying to avoid.



Earlier this year, Washington banned imports of Russian fossil fuel products, though uranium wasn't part of the sanctions.

"We should not be sending any money to Russia for any American energy or for any other reason," Granholm said in May.

The Biden administration is working toward expanding a uranium supply chain to wean itself off Russian supplies though top congressional Democrats recently balked at Biden's $1.5 billion request in an upcoming budget bill to support domestic uranium enrichment programs.

"We need to signal that the US is committed to its own fuel supply as well as the conversion and enrichment components of the supply chain.

"This investment in our own supply chain is a critical piece of that," Granholm said in Vienna.


The American nuclear industry could soon see a resurgence since the Three Mile Island facility accident in 1979 sent it into a tailspin for decades if Granholm and the Biden administration can get funding.

She said the government would support the demand side rather than taking direct ownership stakes in facilities.

"We would be using the market to make sure this capability gets out," she added. "We would contract with facilities. The goal is to be independent as soon as possible."

Several nuclear fuel supply chain companies, including Honeywell International Inc., General Atomics, and Centrus Energy Corp., could benefit from atomic independence from Russia.

Readers may recall we have outlined Nuclear Power Is Staging A Remarkable Comeback and Why Nuclear Energy Is More Relevant Than Ever.

Remember we outlined in 2020: Buy Uranium: Is This The Beginning Of The Next ESG Craze.
 

marsh

On TB every waking moment
Bob Kudla - [CBDC] Is Hitting A Roadblock,People Will Not Allow It To Happen,Structure Change Coming 27:16 min (starts at .54 min)

BOB KUDLA - [CBDC] IS HITTING A ROADBLOCK,PEOPLE WILL NOT ALLOW IT TO HAPPEN,STRUCTURE CHANGE COMING

mirror site Bob Kudla - [CBDC] Is Hitting A Roadblock,People Will Not Allow It To Happen,Structure Change Coming 27:16 min
Bob is the created and owner of Trade Genius Academy. Bob begins the conversation talking about the how the people around the world are now pushing back against the globalist and the [CB]. The UK is in trouble they are now debasing their currency. The [DS] attacked Russia by hitting the Nordstream pipeline. The [CBDC] will not succeed. The people around the world already pushed back on the vaccine passport and now they are ready to pushback on the [CBDC]
 

marsh

On TB every waking moment

marsh

On TB every waking moment
Putin just CALLED their bluff and SH*T is about to hit the fan | Redacted with Clayton Morris 25:28 min

Putin just CALLED their bluff and SH*T is about to hit the fan | Redacted with Clayton Morris​

Redacted News Published September 29, 2022

Russia says that it will annex the Donbass region on Friday afternoon. Meanwhile, NATO countries are meeting to prepare a full military response. Still, no one will say who attacked the Nord Stream pipelines and the loss of that energy will cause everyone pain this winter. Could mobile networks go down? Will ATMs go down? Europe and Africa are being warned of both!

^^^^^
Hang on, Serbia just did WHAT? The E.U. is not happy | Redacted with Natali and Clayton Morris 7:53 min

Hang on, Serbia just did WHAT? The E.U. is not happy | Redacted with Natali and Clayton Morris
Redacted News Published September 29, 2022

Serbia continues to be chastised for not acting Western enough and trying to be peaceful. Now the European Union wants to stop negotiations for Serbian membership in the E.U. President Vucic has a tough job of trying to be peaceful and look out for his peaceful and has some questions for the United Nations. He also says that 100 years of peace talks is better than 1 day of war. Peace talks now!
 

marsh

On TB every waking moment
Exposing UN Agenda 21 Sustainable Development at the Local Level 20:12 min

Exposing UN Agenda 21 Sustainable Development at the Local Level​

The New American Published September 29, 2022 692 Views

group of Miami activists and an outside expert are working to expose the insidious effects of the United Nations and its "Agenda 21" Sustainable Development programs in the South Florida area, two key players in the effort told The New American magazine's Alex Newman in this episode of Conversations That Matter. Cuban-born local activist Maria Magdalena Estupinan and Sustainable Freedom Lab's John Anthony, an expert on the UN's scheme, describe the pernicious influence of the global organization, which they say is now ubiquitous in local and county government. One of the defining characteristics is a war on private property rights, but ultimately the goal is total control over citizens' lives, Estupinan explained. Their plan is to conduct a forensic study of Agenda 21-linked policies in Miami so that the broader community can understand and combat this threat to liberty and constitutional government.
 

marsh

On TB every waking moment
The U.S. dollar might CRASH. Here's how YOU can prepare. 16:44 min

The U.S. dollar might CRASH. Here's how YOU can prepare.​

Glenn Beck Published September 29, 2022

The U.S. economy is in trouble, and Americans are feeling it. But thanks to central banks around the world, it’s not just the U.S. dollar facing a potential collapse. In this clip, Glenn explains how the world’s central banks are ‘DESTROYING EVERYTHING.’ He explains how — even though it may seem like it’s gaining strength today — the U.S. dollar is facing a potential crash…a crash that could potentially turn America into Venezuela overnight. So, it’s best to prepare for all worst case scenarios NOW. Glenn provides actions YOU can take to prepare today.

^^^

Pain IS the point: How to survive Biden’s 'HELL' economy​

SEPTEMBER 29, 2022

The White House can try to spin inflation all day long (and it's trying very hard). But you feel the effects of President Joe Biden’s disastrous leadership every time you go to the grocery store or fill up your car. The American economy is on the brink of disaster after less than two years of a Democrat-controlled Congress and White House. And they’ve got plenty more destruction in the works.

The bottom line is they WANT you to get used to a lower living standard. So, what do you do? How do you prepare? What will food and fuel cost in the months ahead? What would the next Great Depression look like? How are you going to feel the effects of ESG and the Left’s war on oil?

On Wednesday night's "Glenn TV," Glenn Beck brings in a panel of economic experts to answer those questions. He’s joined by Carol Roth, former Wall Street investment banker and author of “The War on Small Business,” and Jim Iuorio, a small business owner, stockbroker, and managing director of TJM Institutional Services. While both forecast the worst-case scenario for average Americans, they also offer a glimmer of hope to get us out of this mess.

Watch the full episode below:

View: https://www.youtube.com/watch?v=HMMAPXgS1fQ&feature=emb_logo

48:11 min

Pain Is the Point: How to Survive Biden’s HELL Economy | Glenn TV |Ep 226​

Premiered Sep 28, 2022

AMLnZu_ZGYp34o3R5SyYNPIx32ATGZIK5F19GX9b7Srigg=s88-c-k-c0x00ffffff-no-rj

BlazeTV

The White House can try to spin inflation all day long (and it's trying very hard). But you feel the effects of Biden’s disastrous leadership every time you go to the grocery store or fill up your car. The American economy is on the brink of disaster after less than two years of a Democrat-controlled Congress and White House. And they’ve got plenty more destruction in the works. The bottom line is they WANT you to get used to a lower living standard. So, what do you do? How do you prepare? What will food and fuel cost in the months ahead? What would the next Great Depression look like? How are you going to feel the effects of ESG and the Left’s war on oil? Glenn brings in a panel of economic experts to answer those questions. He’s joined by Carol Roth, former Wall Street investment banker and author of “The War on Small Business,” and Jim Iuorio, a small business owner, stockbroker, and managing director of TJM Institutional Services. While both forecast the worst-case scenario for average Americans, they also offer a glimmer of hope to get us out of this mess.
 

marsh

On TB every waking moment

marsh

On TB every waking moment

Published September 29, 2022 10:22pm EDT

Goya Foods CEO Bob Unanue accuses government of using inflation to 'enslave us for their own greed and power'​

'At the core of inflation...is evil, a desire to control us,' Goya CEO tells Tucker Carlson
By Yael Halon | Fox News

Goya Foods CEO: Food shortages are very real Video
Goya Foods CEO Bob Unanue: Food shortages are very real | Fox News Video 2:38 min

Goya Foods CEO: Food shortages are very real​

Goya Foods CEO Bob Unanue weighs in on the climbing food prices and inflation under the Biden administration on 'Tucker Carlson Tonight.'

Goya Foods President and CEO Bob Unanue took a swipe at the Biden administration on Thursday over its handling of the inflation crisis, rising grocery costs and labor shortages that continue to cripple U.S. businesses.

In an interview on "Tucker Carlson Tonight," Unanue accused the White House of weaponizing inflation to "control" the public while using irresponsible unemployment payouts to discourage able Americans from rejoining the workforce.

"At the core of inflation, and it’s out of control – especially in food – is evil, a desire to control us," Unanue told host Tucker Carlson. "When I was a child, my parents said ‘never take candy from a stranger.’ And they’re giving out candy, incentivizing people not to work. They’re taking away our purpose, our spirit, our reason to get up every day. They’re doing it without their own candy, they’re taking our candy, and using it to incentivize us not to work.

That’s very inflationary."

Rising food prices have been one of the most visceral reminders of red-hot inflation, which has created severe financial pressures for most U.S. households. Food prices accelerated to a new four-decade high this summer, forcing Americans to cut out everyday items they can no longer afford.

According to the Labor Department, Americans are paying more at the grocery store for a number of items that have climbed considerably in price over the past year. That includes staples like eggs (38%), chicken (16.6%), milk (15.6%), potatoes (13.3%), rice (12.7%) and fresh fruits and vegetables (8.2%).

On top of that, America is in the midst of what many are calling the worst worker shortage in recent memory.

Throughout the pandemic, Unanue said his company "never stopped working" because it was deemed essential. But the country’s largest Hispanic-owned food company felt the impact of employee shortages first hand.

"Work is essential. It gives us our reason…each one of us is made in the likeness of God with our own identity," he said.

Everyday Americans have been robbed of the sense of purpose that is instilled in working individuals by those who wish to "enslave us for their own greed and power," Unanue argued.

"We all have a purpose," he said. "Now, you take that purpose away by the very few who want to own us control us, enslave us, for their own greed and power."
 

marsh

On TB every waking moment

Biden awards $41 million to Soros-funded group shielding illegal aliens​

Taxpayer-backed grants fund effort to block deportation​

By Art Moore
Published September 29, 2022 at 7:31pm

The Biden administration awarded $41.3 million in taxpayer-backed government contracts to a non-profit that is helping illegal aliens fight deportation as the nation struggles to cope with the border crisis.

The nonprofit is the Acacia Center for Justice, which was formed through a partnership between the Vera Institute of Justice and Capital Area Immigrants' Rights (CAIR).

The Vera Institute has received millions in funding from George Soros' Open Society Foundation.

The institute's spinoff, the Acacia Center, has received six "legal services" contracts from the Justice Department, which will support the nonprofit's objective "to expand on Vera's work over the past twenty years in providing legal support and representation to immigrants facing deportation."

Acacia's website further says it "will focus the collective power of both Vera and CAIR on delivering accountable, independent, zealous and person-centered legal services and representation to protect the rights of all immigrants at risk of deportation."

More than 2 million illegal-alien encounters have been recorded at the border this fiscal year and more than 1.7 million last year.

The Vera Institute clearly states it views federal immigration enforcement agencies as a "threat" to civil liberties.

But the group won a $171 million government contract in March to help unaccompanied minors avoid deportation, FoxNews.com reported previously.

The deal with the government lasts until March 2023, and it can reach as high as $983 million if renewed until March 2027.

The Soros-funded Vera Institute also works to end "mass incarceration" by cutting down on the number of jails, prisons and detention centers in the United States.

And the group also has showed support for defunding police.

Meanwhile, violent crime has risen substantially in major cities with progressive district attorneys whose campaigns were bankrolled by Soros. Among the DAs is Kim Foxx of Cook County, Illinois, which has recorded more murders in this year than any year since 1994.

Soros: 'Democracy is now gravely endangered'
On Independence Day, Soros wrote in a piece on his site Project Syndicate that he saw the conservative "radical majority" on the U.S. Supreme Court as "part of a carefully laid plan to turn the US into a repressive regime."

He charged that "democracy is now gravely endangered" and asserted "the threat to the US from the domestic enemies of democracy is even greater" than the threat from foreign enemies such as China and Russia.

The "domestic enemies," he said, include a Supreme Court "dominated by far-right extremists, and Donald Trump’s Republican Party, which placed those extremists on the Court."

Soros objected in particular to Justice Samuel Alito's majority opinion in the Mississippi abortion case that overturned the 1973 Roe v. Wade decision.

"There is only one way to rein in the Supreme Court: throw the Republican Party out of office in a landslide," Soros wrote.

He acknowledged it won't be easy to defeat "the radicalized Republicans," who have "stacked the Supreme Court and many lower courts with extremist judges."

"In states such as Florida, Georgia, and Texas, they have enacted a raft of laws that make voting very difficult," he said, referring to election integrity laws such a requiring voter ID.

He claimed the objective is not to make sure that every vote counts, but "disenfranchising African-Americans, other minorities, and young voters generally" in an effort to win elections.

"We must do everything we can," he wrote, "to prevent" the Republicans from retaking the majority in Congress this November.
 

marsh

On TB every waking moment

Feds looking over your shoulder, with purchases of cell phone, internet data​

Mostly no warrant is involved since information comes from commercial interests​

By Bob Unruh
Published September 29, 2022 at 7:12p

If you like your friends and relatives looking over your shoulder as you send some of your most confidential text messages, then you'll probably like what the government is doing: buying from contractors private cell phone and internet data.

To track you.

If you don't like it, there are civil liberties lawyers who already are raising alarm bells about the development.

A report from Just the News pointed out that the trend hasn't gotten a lot of attention yet.

But it said law enforcement agencies "at every level of government" more and more are purchasing data from private data brokers who sell information about Americans, their phones, and their data.

Often without a warrant.

Just the News reported supporters say such activity helps investigations, but there are those, too, who express concern about the civil liberties issues involved. They say legislation might be needed to set the rules.

The Electronic Frontier Foundation, which defends civil liberties in the digital world, revealed one of the latest developments.

"EFF recently obtained a trove of records through Freedom of Information Act requests on local and state police departments, as well as federal entities, purchasing a cellphone tracking tool that can monitor people's movements going back months in time," Just the News reported.

The organization discovered that a company, Fog Data Science, has a tool, Fog Reveal, which has "billions" of data points on millions of devices.

And the company has contracts to give details to multiple police agencies.

"Local law enforcement is at the front lines of trafficking and missing persons cases, yet these departments are often behind in technology adoption," Matthew Broderick, a Fog managing partner, told the AP. "We fill a gap for underfunded and understaffed departments."

Aaron Mackey, a lawyer for EFF, said, however, "Reporting and a recent investigation by EFF confirms that law enforcement across the country is regularly getting access to our private movements — with the ability to retrace our daily lives — often without a warrant.

"This is an end-run around the Fourth Amendment and permits broad surveillance that can sweep up anyone who happens to be near the scene of a crime."

The report said the information comes from various smartphone apps that involve location. If a phone owner grants permission for that information to be accessed, the app company has it, and then can sell it.

A recent Vice report also noted another tool, called Augury, which claims to cover 90% of the world's internet traffic.

"Vice found that the U.S. Navy, Army, Cyber Command, and the Defense Counterintelligence and Security Agency have collectively paid at least $3.5 million to access Augury, allowing them to track internet usage and access large amounts of sensitive information," Just the News reported.

Members of Congress now, too, have expressed interest in what companies are buying data on Americans.

The report continued, "Among the largest government buyers of bulk location data is the Department of Homeland Security and several of its agencies, including Immigration and Customs Enforcement and Customs and Border Patrol."

The government already is facing one lawsuit, from the Heritage Foundation, over the acquisition and retention of private data location information.
 

marsh

On TB every waking moment

POSTED ON SEPTEMBER 29, 2022 BY JOHN HINDERAKER

ET TU, IMF?​

Conservative electoral victories across Europe have the continent’s left-wing establishment nervous. New British Prime Minister Liz Truss and her chancellor have announced a program of tax cuts intended to incentivize growth in Britain’s economy. Who knows? It has worked before, it may work again.

POSTED ON SEPTEMBER 29, 2022 BY JOHN HINDERAKER

ET TU, IMF?​

Conservative electoral victories across Europe have the continent’s left-wing establishment nervous. New British Prime Minister Liz Truss and her chancellor have announced a program of tax cuts intended to incentivize growth in Britain’s economy. Who knows? It has worked before, it may work again.

But the International Monetary Fund isn’t waiting to find out. It demands that the U.K. change its announced policy to conform to liberal norms. The Telegraph reports:

The International Monetary Fund has urged Liz Truss to reverse the decision to abolish the top rate of income tax, in a highly unusual attack on the economic policy of a G7 country.

***
The IMF said it was “closely monitoring recent economic developments in the UK and are engaged with the authorities” and warned that the fiscal stimulus risked undermining the Bank of England’s efforts to curb inflation.

***
A spokesman for the Washington DC-based organisation said Mr Kwarteng’s announcement in November would “present an early opportunity for the UK Government to consider ways to provide support that is more targeted and reevaluate the tax measures, especially those that benefit high-income earners”.

It is an extremely rare intervention by the IMF over a developed country’s economic policy.

Extremely rare indeed. The IMF’s stated concern is that cutting currently-exorbitant taxes on high earners will increase Britain’s budget deficit. But the Truss administration has announced a number of proposed tax cuts, of which this is just one. So why single it out? Also, if deficits are the issue, how about spending restraint? The IMF could have said (if it was determined to intervene in British politics) that the tax cuts need to be balanced by spending cuts. But that isn’t what happened. The IMF was sticking up for liberal policies, not for fiscal responsibility.

One might also note that the IMF had no apparent problem with our own government’s shoveling trillions of dollars in borrowed money out the door under the flimsy pretext of covid relief.

The IMF move drew an angry reaction from senior Tories on Tuesday night.

Lord Frost, the former Brexit minister and an ally of Ms Truss, told The Telegraph: “The IMF has consistently advocated highly conventional economic policies. It is following this approach that has produced years of slow growth and weak productivity.

“The only way forward for Britain is lower taxes, spending restraint, and significant economic reform. Liz Truss and Kwasi Kwarteng are rightly focused on delivering this and they should tune out the criticism from those who are still in the intellectual world of Gordon Brown.”

Well put. The IMF is one cog in a left-wing international establishment that constantly has its thumb on the scale in favor of liberal policies that don’t work for the majority, but that enrich the left-wing international establishment. That basic fact explains much of what goes on in contemporary politics.
 

marsh

On TB every waking moment

September 29, 2022

The Pandemic was a Grand Rehearsal for the Great Reset​

By Janet Levy

Fear is the key to obtaining compliance. And by obtaining mass compliance during the pandemic, the global elite — operating through political leaders, international bodies, NGOs, and a vast network of "experts" and bureaucrats — audaciously tested ground for the Great Reset. "Populations have overwhelmingly shown a willingness to make sacrifices," said Klaus Schwab, founder of the World Economic Forum (WEF). "The changes we have seen in response to COVID-19 prove that a reset of our economic and social foundations is possible."

In his new book The Great Reset: Global Elites and the Permanent Lockdown, Marc Morano lays bare how "15 days to slow the spread" was actually "15 days to begin your conditioning to accept a new level of tyranny." He shows how the agenda was set decades before the pandemic and was given momentum during the post-9/11 War on Terror. The signs of long preparation for the Great Reset are now quite evident. Morano lists them, connecting the dots.

The goal was global governance, carbon taxes, the empowerment of unelected bureaucrats, and the stringent regulation of all human endeavors.

The gospel according to the WEF promises people that "you will own nothing, and you will be happy." In Schwab's characterization of the Fourth Industrial Revolution, our physical, digital, and biological identities will fuse into one. And in the interest of equity and inclusivity, we will sacrifice property, privacy, and liberty, remaining dependent on and therefore under the control of governments. Meanwhile, the global elite will wrest ownership of, and power over, everything. Hundreds of billionaire businessmen, influential financiers, and world leaders are on board with this project.

Morano believes that post-9/11, with the expansion of government powers through the PATRIOT Act, the so-called Global War on Terror (GWOT) evolved into a war against the populations of Western democracies. Ironically, this war on Islamists produced authoritarian police states that curtailed any criticism of jihadist aspects of Islam, prohibited training of agents on Islamic doctrine, welcomed Muslim Brotherhood operatives into government, and insisted that "Islam is a religion of peace."

Along with that, leftist and anarchist ideas were injected into governments and corporations via hordes of indoctrinated youths from the humanities departments of universities. ESG (environment, social justice, governance) and DEI (diversity, equity, inclusion) became the shibboleths du jour. In place of a robust, competitive, and meritocratic capitalism, "stakeholder" capitalism was ushered in. This is aimed at eliminating small and medium businesses, consolidating the market in the hands of a few corporations, which, in symbiosis with governments, will control people. Managers, so-called experts, and bureaucrats will become powerful. But controlling them all will be billionaire financiers and their investment firms.
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Morano identifies the institutions and individuals behind the Great Reset: the WEF, the U.N., the European Central Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the Council on Foreign Relations, the Bilderberg Group, the Trilateral Commission, George Soros, Bill Gates, King Charles, Big Tech, union leaders, NGOs, and others.

During the pandemic, the merging of government and corporate power proved a major threat to individual liberty. To "overcome the limits" of data privacy, Schwab had proposed "public-private data-sharing agreements" in his 2018 book Shaping the Future of the Fourth Industrial Revolution. He also proudly promotes merging man and machine, with implantable computers to assess how people feel and react. Unsurprisingly, the WEF "Global Risks Report 2019" says: "Authoritarianism is easier in a world of total visibility and traceability while democracy may turn out to be more difficult."

Perhaps not so coincidentally, in 2019, the WEF had cohosted Event 201, a simulated fictional pandemic that included lockdowns, masking, and free speech suppression. It visualized 65 million deaths, necessitating a global response from governments, international organizations, and global businesses. As if mirroring that, since the COVID-19 pandemic, there have been endless emergency declarations, massive government spending, debt, runaway inflation, supply chain problems, an increase in crime, food shortages, skyrocketing energy prices, oppressive censorship, travel restrictions, limits on freedom of movement, and reduction in privacy.

Similar scenario analyses and simulations were also conducted by the Rockefeller Foundation in 2010 (documented in The Scenarios for the Future of Technology and International Development, a section of which bears the infamous title "Lock Step"), and in 2018 by the WEF and the Johns Hopkins Center for Health Security, called Clade X, visualizing millions of deaths, economic collapse, and societal upheaval. Lockdowns and masking mandates were part of all three prescient test scenarios.

The actual COVID-19 lockdown was nothing short of the suspension of democracy. Public health bureaucrats and expert overrode parliamentary debate to end constitutional rights to movement, association, earning a living, getting an education, and worshiping. Answering those who wanted to know the truth about the pandemic, Dr Anthony Fauci, chief medical adviser to the U.S. president, even arrogated to himself a stand for all of science, saying, "Attacks on me are an attack on science." "The Science" — meaning the version promoted by governments and world bodies — was used to promote authoritarian measures.
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Lies were peddled freely. Hospitals jacked up the numbers of COVID patients and deaths, incentivized by the Congressional Coronavirus Aid, Relief, and Economic Security (CARES) Act authorizing more funds for hospitals with corona patients. Dr. Thomas T. Siler noted that, "[a]ccording to the Centers for Disease Control, only 6% of those who died with Covid-19 had no other pre-existing health conditions, while 94% had an average of four health conditions already affecting them."

If the dominant narrative was questioned, the entity doing the questioning was suppressed as "misinformation" by means of the "cancel culture." The mainstream media and Big Tech groups controlling social media were complicit in this exercise, becoming enforcers for the WHO, the CDC, and other health bureaucracies. YouTube, for example, removed 800,000 videos allegedly containing coronavirus misinformation in one year, while Twitter challenged 11.5 million accounts when COVID guidance was implemented, and Instagram removed 1 million pieces of COVID "misinformation" in three months.

Billionaire wealth reached record highs — one of the greatest wealth transfers in history, which will only accelerate as a digital currency is set up and a China-style social scoring system is implemented. Small business, meanwhile, is being decimated. Through the economic collapse, unemployment, and inflation caused by the pandemic, a dependency regime of handouts is being created to wipe out competitiveness and the push for excellence in the name of equity.

Morano also sees the COVID lockdowns and mandates as a gift to climate activists, who are noting with glee that it could serve as a model for future climate lockdowns, which they think the public will meekly comply with.

Absurd as it might seem, actress Jane Fonda claimed that the melting Arctic ice is releasing pathogens to which humans are not immune, a doctor in British Columbia diagnosed a patient as suffering from "climate change," and Lancet Planetary Health advocated putting "climate change" as a valid cause on death certificates.

If you think those are random exaggerations, consider what Mariana Mazzucato, a WHO and U.N. adviser funded by George Soros, the Ford Foundation, the Rockefeller Foundation, and others, wrote in "Avoiding a Climate Lockdown," an ultimatum for inaction on the "climate emergency."

Time magazine, in its April 2021 issue, claimed that the pandemic has given the E.U. the perfect opportunity to remake its economic agenda with "climate at the core." It celebrated the COVID lockdown as a model for climate lockdowns. And in 2022, House Democrats urged Biden to transition from the COVID emergency to a "climate emergency."

Morano concludes his book with ideas for a Great Reject, through resistance.

He suggests a series of reforms to limit executive emergency powers. He also calls for a vigilant public to defy irrational mandates, while urging the Republicans — champions of individual freedom and limited government — to rise to the occasion and uphold those principles. When fear is used as a weapon, people must choose fearlessness.
 

marsh

On TB every waking moment

FDA is using Covid Vaccines as a “Platform Technology”​

BY ROBERT MALONE SEPTEMBER 29, 2022

There was a World Health Organization (WHO) consultation in April, 2021 (Sept, 2022 online publication ahead of Dec, 2022 print) whereby US government officials laid out strategies for the process of future mRNA vaccine approvals by the FDA. A summary of this meeting has just been published online, ahead of print. So, we no longer have to speculate about what the FDA has decided about considering future mRNA vaccines and using the past pre-clinical data package as the foundation for these vaccines as being a “platform” technology.

The 2021 WHO informal consultation on regulatory considerations discussed these issues. Dr Keith Peden (Center for Biologics Evaluation and Research (CBER), Food and Drug Administration presented the FDA’s experience and position on licensure of new mRNA vaccine products.

WHO informal consultation on regulatory considerations for evaluation of the quality, safety and efficacy of RNA-based prophylactic vaccines for infectious diseases, 20-22 April 2021

Emerg Microbes Infect 2022 Dec;11(1):384-391. doi: 10.1080/22221751.2022.2026742.
From the World Health Organization article:

My comments are in parentheses ( ) within the text below.
Regulatory perspectives
Dr Keith Peden (Center for Biologics Evaluation and Research (CBER), Food and Drug Administration (FDA), USA) presented the FDA’s experience with mRNA vaccines, including product and Chemistry, Manufacturing and Controls (CMC) issues, potency determination, pre-clinical studies, efficacy assessment (what to monitor and what assays to use), evaluation of possible vaccine-enhanced disease, and the question of whether or not mRNA can be viewed as a platform technology.

He commented that whether the individual LNP component should be evaluated separately or as the vaccine is an individual NRA’s decision. CBER decided only the product should be tested (this means only the final formulation – for example, with the COVID-19 vaccine, only the final spike protein mRNA formulated as injected would need to be evaluated. No separate testing of the individual components, which is inconsistent with standard regulatory practice. The shocking implications of this are discussed below).

The issue of whether mRNA vaccines are a platform technology and what the implications would be if so, has been discussed at the FDA
(this means the vaccines would be like the flu – VERY limited pre-clinical and clinical would need to be done for full licensure).

This has implications, e.g., what testing would be required for a new mRNA that expresses a new antigen using the same LNP and manufacturing process?

What pre-clinical studies would be required, and which could be dispensed with based on data from similar products? Could the vaccine development process be streamlined?
(He goes on)
CBER has determined that this is in flux, and has not required that biodistribution studies be performed on a new vaccine if studies with another vaccine using the same manufacturing process and same LNP have already been done. (WOW. This is over the top malfeasance. With all this new mRNA vaccine and mRNA clinical trials being conducted – CBER DID NOT REQUIRE NEW BIO DISTRIBUTION STUDIES!)

It is expected that modifications to the manufacturing process, and likely the encapsulating lipids will occur in the future. (as future companies will have to face an onslaught of new requirements, such as addressing the stability of the mRNA in these vaccines, it will be almost impossible to now move away from this manufacturing process and LNP. This functionally provides a monopoly for the current companies, and an associated cash cow in perpetuity).

Highlights:
CBER decided that going forward, with new mRNA vaccine trials, ONLY the product (the final formulation) should be tested as long as same manufacturing process and LNP are used. This is despite the fact that CBER did not do complete biodistribution or toxicity studies on these products, as discovered in the FOIA Japanese pre-clinical package and the US court ordered document release.

Essentially, CBER has completely bypassed the issues of these vaccines not having a complete pre-clinical evaluation, and in April 2021 decided that new mRNA vaccines in development will not have to comply with the norms for vaccine development. That is all mRNA vaccines in the future, as long as don’t vary from what has already been done, will be like processed like the the influenza model, with only the “payload” to be tested.

Finally, CBER has determined that bio-distribution studies on new mRNA vaccines using this “platform technology” will not have to be redone, even though they were not properly evaluated in the first place. This is over the top idiocy. New products will be allowed to proceed with human testing without having a complete pre-clincial data package – as what was submitted to the FDA was cobbled together from previous studies is incomplete.

For instance, a reporter gene (luciferase) instead of the spike protein was used for toxicity and bio-distribution studies, and the LEAST sensitive assay to detect protein expression was used in the studies. As a consequence, the biodistribution data which the FDA is relying on is a gross underestimate of the true bio-distribution of transgene protein expression.

The bio-distribution studies were done using techniques that were not able to differentiate bio-distribution in tissues. Instead, whole animal imaging was used, which is essentially a parlor trick, and is absolutely not quantitative.

Good for pictures on the cover of Rolling Stone, but not for actual bio-distribution analysis. This was the specific problem which I called Dr. Peter Marks about last fall, and which he assured me had been addressed in the full data package submitted by Pfizer. Just for the record, he lied to me.

What this all means is that using these flawed pre-clinical trials to support a platform technology was planned from the beginning. By not focussing on the payload of the vaccines, but instead relying on the generic formulations prior to initiating clinical trials, this has allowed CBER (and Moderna, and Pfizer/BioNTech) to transfer these highly flawed pre-clinical data packages to all upcoming mRNA vaccine trials for new vaccine products!.

The implications of this are enormous. First, it is complete regulatory failure as well as yet more evidence of regulatory capture. Second, that this “pandemic” has been exploited to drive approval of a mRNA platform technology -whereby only TWO companies will be allowed to compete (those that completed the two approved pre-clinical packages).

We know now that the pseudouridine-containing mRNA does not break down for months. But rather, it stays in the body producing protein. This is not natural mRNA by any stretch of the imagination, and it does not behave like natural mRNA. This technology, as currently practiced by Moderna and Pfizer/BioNTech, employs a novel polymeric biomolecule, the properties of which have not been well characterized.

The protein levels being produced by these vaccines is not known, the duration of protein production isn’t known, and the biodistribution of protein production is not known. And the FDA and other global regulatory authorities are all comfortable with this??

As an example of one of the dangers with not knowing the protein levels, distribution and duration of transgene expression, we know from many prior immune tolerance studies that too much antigen (protein in this case), can cause “tolerance.” That is essentially where the immune system stops seeing the threat.

These vaccines could easily drive up tolerance against a virus. We know from multiple peer reviewed papers from top global laboratories that they are driving “immune imprinting” or “original antigenic sin” problems- in human beings (not just mice). This is not theoretical. It is real, and being exacerbated by the “booster vaccines” (FDA terminology) or “new vaccines” (US White House terminology).

In the future, as companies will have to face an onslaught of new requirements, such as addressing the stability of the mRNA in these vaccines, it will be almost impossible to now move away from this manufacturing process and LNP. This will become the platform technology because of the shortsighted position taken by the FDA/CBER.

Another issue is that this synthetic mRNA (pseudouridine was substituted for uridine) is that it is immunosuppressive. Having this mRNA in the body suppresses not only the ability to fight off latent DNA viruses such as shingles, EBV and CMV, it is likely to also suppress the ability of the immune system to detect cancer.

In the future, the FDA’s CBER will have to come to terms with the fact that the pre-clinical trials were completely inadequate, and yet they now have 50+ mRNA vaccine trials currently enrolling and over 150 more on the way based on that highly flawed pre-clinical data package. A quick search at clinicaltrials.gov yields documents the problem that they have created.

Currently a search on mRNA vaccine yields many, many results of clinical trials that have evidently used the incomplete data package from the COVID-19 vaccines as “platform technology.” At least 50 of these mRNA vaccine clinical trials are currently enrolling.
 

marsh

On TB every waking moment

Italy Election: Polling Finds Wealthiest Voted Left, Working and Middle Voted Right

CHRIS TOMLINSON29 Sep 20222,690

Giorgia Meloni’s Brothers of Italy were the most popular party among workers and the middle class in last weekend’s election, while the wealthiest Italians, along with university graduates, were more likely to vote for left parties.

The Brothers of Italy (FdI) came first in last weekend’s elections with 26 per cent of the vote, winning nearly six million more votes than in the previous election in 2018, and according to a breakdown of voting by the firm Ipsos, the party managed to secure just over 30 per cent of the votes of lower-middle-class people amid strong numbers across all income ranges.

Among upper-middle-class people and university graduates, the left-wing Democrats were the most popular party, followed by Meloni’s FdI, the Italian newspaper Corriere Della Sera reports.

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Nando Pagnoncelli, the head of Ipsos, commented on the breakdown of the voting saying, “These elections, even more than the previous ones, have shown how the traditional reference groups of each party have disappeared” and noted that among workers the Democratic Party, the traditional left-wing party in Italy, had come in fourth place behind the FdI, the Five Star Movement and Matteo Salvini’s League.

While Meloni is likely to become Italy’s first-ever female Prime Minister, the number of female voters who voted for her party was slightly lower than the number of male supporters according to the analysis.

The data comes just days after it was revealed that the FdI and the centre-right coalition had broken through the so-called “red wall” of traditionally left-wing areas in regions like Tuscany and Emilia-Romagna, beating Democratic candidates in areas that have been the heartland of the left in Italy for decades.

The centre-right coalition won a total of 29 single-member constituencies in the former “red wall” areas and three of the five single-member constituencies for the Italian Senate.

View: https://twitter.com/i/status/1574800505871781890
2:19 min
 

marsh

On TB every waking moment

Surprise! The Economy Is Even Worse Than You Thought​

JOHN CARNEY29 Sep 20224,481

The U.S. economy was even weaker in the first half of the year than previously thought, data from the Commerce Department indicated on Thursday.

Gross Domestic Product contracted by 1.6 percent in the first three months of 2022 and by 0.6 percent in the April through June quarter, meaning the economy shrank for two consecutive quarters.

Those who argued that the economy was not actually in a recession could point to the low unemployment rate and a measure of the economy known as Gross Domestic Income, which had been reported as growing 1.8 percent in the first quarter and 1.4 percent in the second quarter.

On Thursday, the Commerce Department released revisions to its estimates of GDP and GDI. The GDP estimates were unchanged but the GDI estimates for the first half of this year were marked down sharply. First quarter GDI grew at a 0.8 percent annual rate and second quarter GDI growth was a mere 0.1 percent.

Many economists look to the average of GDI and GDP as a signal for the health of the economy. Prior to the revisions, that average appeared to imply that the U.S. economy was growing in the first half of the year, supporting the claim that the U.S. economy was not in a recession. After the revisions, the average of GDI indicates the economy shrank 0.3 percent in the second quarter and 0.4 percent in the first.

The National Bureau of Economic Research’s Business Cycle Dating Committee, the official arbiters of when recessions begin and end, will use the average alongside other economic indicators in its determination. The revisions make it more likely that the committee will decide that the U.S. economy entered a recession in 2022.

The estimates of both GDI and GDP are produced by the Bureau of Economic Statistics, a unit of the Commerce Department. GDP is defined as the value of final goods and services and is measured on the production side. GDI is measured by adding up wages, profits, interest payments, and investments.

In theory, both should be the same since both a measuring the growth or contraction of economic activity.

In practice, however, GDP and GDI often fail to perfectly align, particularly in the early estimates. In the wake of the pandemic, the divergences became particularly sharp, suggesting errors in one or both measurements. Economists suspect that the sudden stops and starts to the economy and the huge amounts of government inject stimulus have made economic activity more difficult to measure. Prior to Thursday’s revisions, GDI was reported as being $773 billion higher than GDP. After the revisions, the gap narrowed to 1.3 percent.

The government also revised GDP upward for 2020 and 2021, primarily because consumer spending and exports were higher than previously thought. This means the economic weakness brought on by the pandemic was not as bad as originally estimated and the recovery begun under President Donald Trump was stronger. it also helps explain why the Biden administration’s aid packages helped spark the highest inflation in decades. The economy—especially consumer spending—was already well on the way to a full recovery and the additional stimulus overheated demand.
 

marsh

On TB every waking moment

Report: China Has Dozens of Police ‘Service’ Stations Around the World – Including New York​

FRANCES MARTEL29 Sep 20225

The NGO Safeguard Defenders revealed in an extensive report published this month that Chinese police officers had established dozens of overseas “service stations” around the world, including in New York and Toronto. Canadian newspapers this week investigated the supposed stations, finding little in the way of formal offices.

The Safeguard Defenders report — titled “110 Overseas,” after the name given to the “service stations” by Chinese officers — compiled evidence that the Chinese Communist Party is using the stations to threaten, silence, and “voluntarily” repatriate individuals it deems to be threats to the Party. The stations are not a secret, but Chinese government officials claim they exist for benign reasons such as helping Chinese nationals in foreign countries renew driver’s licenses or help them report transnational crimes where the government has reason to believe the criminal remains at large in China.

A large volume of materials — interviews with victims, leaked government documents, documentary evidence from defectors, among other kinds of evidence — overwhelmingly indicates that China is committing crimes against humanity against millions of its citizens. Paramount among the victims are the Turkic people of East Turkistan, where dictator Xi Jinping is actively committing genocide. The Chinese state claims that these people, the majority of them Uyghurs indigenous to the Central Asia region, are a terrorist threat based on their ethnic identity and their Islamic beliefs. Beijing routinely pressures nations where Uyghurs have escaped to avoid the genocide to extradite them, often with disastrous results for the targets.

Other individuals at risk include ethnic Tibetans, Hong Kong pro-democracy activists, Christians, and anyone who has publicly denounced Chinese state human rights abuses.

The full Safeguard Defenders report notes that Chinese police use the excuse of fighting telecommunications fraud most often in attempting to repatriate dissident individuals and has identified nine “forbidden” countries where Chinese police claim a large number of these crimes are committed: Turkey, United Arab Emirates, Myanmar, Thailand, Malaysia, Laos, Cambodia, Philippines, and Indonesia. Notably, a significant percentage of these countries are majority Muslim. In Turkey’s case, the Uyghur community has a direct ethnic bond with the local population and availed itself of this to escape the genocide.

Also notably, the vast majority of the known “service stations” outside of China are not in these countries, but in supposedly free states in Europe and the Americas.

Among the cities boasting a “service station” are Dublin, Ireland; Prague, Czech Republic; Budapest, Hungary; Paris, France; Madrid, Spain; London, England; New York, America; Sao Paulo, Brazil; Toronto, Canada; Tokyo, Japan; and two cities in Nigeria and Tanzania.

New York is home to a large Han Chinese population, many originating from Hong Kong, and a significant Tibetan refugee population. New York’s Tibetans have objected for years to Chinese government operations in the community ranging from staging propaganda displays to fabricating Tibetan community groups to promote Beijing’s interests to infiltrating the community for espionage purposes. In 2020, authorities arrested an NYPD officer on charges of spying on the Tibetan community on behalf of the Communist Party.

The dozens of “service stations” exposed by Safeguard Defenders are only those known to be operated by the Public Security Bureaus of Fuzhou, Fujian province, and Qingtian, Zhejiang province, leaving the possibility open that thousands of similar operations are active globally. The New York “service station” is under the administration of the Fuzhou Public Security Bureau.

Safeguard Defenders noted that evidence exists that these stations are an expansion of a campaign to target potential dissidents. Among the intimidation tactics used against them is the threatening of family still in China with loss of health services or banning related children from school, as well as loss of public transit privileges or other services. The NGO notes that the Qingtian centers reportedly admit to aiding in the “collection of overseas Chinese sentiments, public opinions and policy information push.”

“China claims 230,000 suspects of fraud and telecom fraud were successfully ‘persuaded to return’ to China from April 2021 to July 2022,” the report noted.
In Canada, the Globe and Mail newspaper attempted to track down the three Toronto “service centers” this week, with few tangible results.

The Globe and Mail visited three addresses in the Greater Toronto Area on a list of overseas Chinese police service stations published by state media — two in Markham and one in Scarborough.

All were in areas with large Chinese populations, but no one The Globe spoke to was aware of a police service station or had heard of the Fuzhou Public Security Bureau. One address in Markham was a private home, while the other was a mall full of small Chinese businesses and restaurants. The third property, in a business park near a highway, is owned by the Canada Toronto FuQing Business Association, a federally incorporated non-profit.

FBI Director Christopher Wray warned in 2020 that Operation “Fox Hunt,” the Chinese police project to repatriate and disappear dissidents, had created a global repressive apparatus active in much of the free world.

“We’re talking about political rivals, dissidents, and critics seeking to expose China’s extensive human rights violations,” Wray said during an event at the Hudson Institute at the time. “Hundreds of the Fox Hunt victims that they target live right here in the United States, and many are American citizens or green card holders. The Chinese government wants to force them to return to China, and China’s tactics to accomplish that are shocking.”

Wray shared an anecdote of a Chinese national in America who received a visit from a Communist Party messenger, who said “the target had two options: return to China promptly, or commit suicide.”
 

marsh

On TB every waking moment

Anti-Globalism Is Going Mainstream – Which Means Engineered Disaster Is About To Strike​

September 29, 2022 32 Comments

By Brandon Smith
I have noted in the past that criminals tend to brag about their criminality when they believe there’s nothing anyone can do about it. Frankly, in their narcissism many of them can’t help but revel in the moment and let everyone know how “superior” they are to the rest of us. We witnessed many moments like this from elitists within globalists institutions the past couple of years at the height of the pandemic pandemonium.

There were people like the globalist academics at MIT proclaiming that we were “never going back to normal” and that we were going to have to accept the loss of many of our freedoms for the rest of our lives in order to combat the spread of covid. There were people like Klaus Schwab declaring the beginning of the “Great Reset” and the launch of what the Davos crowd calls the “4th Industrial Revolution.” There have also been MANY political leaders like Joe Biden that strut around on the media stage accusing ideological opponents (conservatives mostly) of being “enemies of democracy.”

If their vision of “democracy” is medical tyranny and the forced expansion of cultural Marxism, or if their idea of democracy is government cooperation with corporate monopoly and the erasure of our country’s founding principles, then yes, I suppose I am indeed an enemy of “democracy.”

The globalists were really basking in the glow of their assumed victory. They thought they had us peasants by the scruff of the neck and that their agenda was all but assured. But as I have been arguing since last year, the money elites may have celebrated a little too early.

The covid agenda utterly failed if the goal was to implement longstanding mandates and restrictions across North America and Europe. If you want to know what success for the globalists would have looked like, just examine China with its endless lockdown cycles and digital vaccine passports. The elites wanted that outcome for the west and they didn’t get it. They came close, but millions of Americans, Canadians and Europeans stood their ground and the cost to force us into compliance would have been too great.

Even Joe Biden has openly admitted that the pandemic is over. They dropped the mandates because they knew if it came to war, they would lose.

If the goal of the pandemic fear factory was simply to get the population injected with the mRNA vaccines, here they also failed. With many states in the US 40% unvaxxed (according to official numbers) and many parts of the world with large unvaxxed populations, there is a massive control group for the covid vaccines. If there are going to be constantly developing health problems associated the mRNA vax (like Myocarditis) then the public is going to know what caused them because of this control group. The globalists needed near-100% vaccination and they did not get it. Not even close.

There is no escape for them – They greatly overestimated the public’s apathy when it comes to authoritarianism. The rebellion is too large and they will eventually be held accountable for their trespasses.

Case in point: The latest election in Italy has resulted in a landslide win for the conservative coalition and the new prime minister (and first woman prime minister), Georgia Meloni, gave a rousing victory speech this week which directly exposed the far-left invasion of western nations, globalism and the poisonous collusion with woke corporations to silence dissent. She called for a return to freedom, and what was the mainstream media response? They are calling her a “fascist.”

The Italian election is just a small part of an ongoing trend, an awakening of the people to the imminent threats presented by globalists, and the globalists can’t stop it.

The fear among them is palpable. Anti-globalism is now going mainstream, and as it does people are going to start looking for answers. Why have our economic conditions been so degraded? Why are we facing stagflationary crisis? Why are prices on everything continuing to climb? Why did we almost lose all of our civil liberties in the name of fighting a virus with a tiny 0.23% official median Infection Fatality Rate? Why are pointless carbon controls being instituted in the middle of a supply chain crisis? Why are politicians and banks making everything so much worse?

The public outcry for a reckoning is growing and it’s the heads of globalists that will end up on the chopping block. All roads to destruction lead back to them and the policies they have forced upon the populace.

Of course, when criminals feel like they are being cornered they will sometimes set fires and take hostages in a last ditch effort to stay alive and slip through the net. I believe we are closing in on that stage of this terrible drama. It’s important to accept the conditions of the battlefield as they are and not underestimate the enemy. The truth is, globalists have extensive means at their disposal to wreak havoc and they have already set some of these disasters in motion.

As I warned many years ago (way back in 2017 in my article ‘The Economic End Game Continues’), tensions with eastern nations are being used to diminish the role of the US dollar as the world reserve currency and the petro currency. The conflict is also causing resource shortages and supply chain weakness, not to mention an energy crisis in Europe that is now irreversible with the sabotage of the Nord pipelines.

I also predicted in 2017 that the Federal Reserve would repeat a pattern of raising interest rate into severe economic weakness causing increased economic turmoil. They used a very similar tactic at the onset of the Great Depression, which former federal reserve chairman Ben Bernanke openly admitted was the cause of the long term deflationary collapse.

From my article in 2017:

The changing of the Fed chair is absolutely meaningless as far as policy is concerned. Jerome Powell will continue the same exact initiatives as Yellen; stimulus will be removed, rates will be hiked and the balance sheet will be reduced, leaving the massive market bubble the Fed originally created vulnerable to implosion.

An observant person…might have noticed that central banks around the world seem to be acting in a coordinated fashion to remove stimulus support from markets and raise interest rates, cutting off supply lines of easy money that have long been a crutch for our crippled economy.”


The Bank for International Settlement’s, the central bank of central banks and the institution that writes global policy initiatives for all other member banks, called for MORE rate hikes last week. Aside from a minor intervention by the Bank of England, the evidence shows that the globalists WANT a crash and are engineering conditions of instability. They set up the dominoes in advance and now they have decided to knock them down. I think this is a fail-safe; a panic trigger in the event that they did not get the control they wanted from the covid pandemic.

They will blame Russia, they will blame China, they will blame conservatives, they will blame anything and anyone besides themselves in an attempt to divert public attention away from the international banking actions that created the crash conditions in the first place. We can’t let them. Whatever happens next, it is vital that people remember who really did this to us and who needs to be punished.

Over the course of the next couple of years the establishment power brokers are going to attempt to use a chaos screen in order to sow seeds of fear in the population. They are going to try to exploit that fear to gain even more centralized governance and change the very foundations of our society while suffocating what’s left of our liberties. It’s the only play they have left, but at least we now know for certain that there are millions of us out there – millions of people that will not comply and that will fight back. And, we know that the globalists are afraid; if they weren’t then they would not be falling back to such drastic measures.
 

marsh

On TB every waking moment

Orange Juice Prices Could "Increase Substantially" As Hurricane Pummels Florida's Top Citrus Grow Region​

THURSDAY, SEP 29, 2022 - 07:40 PM

Hurricane Tropical Storm Ian could soon drive up orange juice prices at the supermarket as the powerful storm tears through the central-southwest part of the state where large citrus groves reside.

Donald Keeney, a meteorologist at Maxar Technologies Inc., told Bloomberg that 90% of the state's citrus crop is in Ian's path, including three top-producing counties.

"There's not a thing in the world you can do to protect crops.

"All the areas are going to have impact. It could be the the final straw for some Florida growers," said Raymond Royce, executive director at Highlands County Citrus Growers Association in Sebring, Florida.


On Monday, we pointed out OJ prices were set to rise due to the tropical threat with storm path projections for Tampa. But landfall was about two hours south near Fort Myers, suggesting more widespread damage to citrus crops.

"The only problem is that as much as the crop could be blown off the trees, the high prices and tighter supply will also shrink demand," said Judy Ganes of J Ganes Consulting.

To get an idea of where the storm made landfall and top producing citrus counties in the state, the US Department of Agriculture's map is an eye opener of the severe damage that could've hit citrus groves (there are still no official crop damage reports but assessments should be underway).



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The University of Florida estimated that 375,000 acres of citrus could be impacted.

1664514541050.png

Combine the storm's potentially devastating blow to an industry already suffering from citrus greening, and Florida Republican Senator Marco Rubio laid out to CNN about the disaster ahead:

"The citrus industry in Florida is already teetering on the brink because of citrus greening.

"They lose this year's crop and a bunch of trees, you can't just restart that."


Readers may recall, earlier this year, we said Florida's Citrus Crop To Be Smallest Since WW2, Squeezes OJ Prices Higher, noting that dwindling supply was pushing up orange juice prices at the supermarket.



With that being said, crop damage reports could likely surface in the coming days or weeks and may push prices higher on increased supply woes. The $2 per pound mark will be in focus.

Did we mention Florida is one of the top-producing citrus states?
 

marsh

On TB every waking moment

Federal Bureau Of Intimidation: The Government’s War On Political Freedom

THURSDAY, SEP 29, 2022 - 08:40 PM
Authored by John & Nisha Whitehead via The Rutherford Institute,

“In so many of the little places of everyday life in which life is lived out, somehow democracy doesn't exist. And one of the creeping hands of totalitarianism running through the democracy is the Federal Bureau of Investigation… Because why does the FBI do all this? To scare the hell out of people… They work for the establishment and the corporations and the politicos to keep things as they are. And they want to frighten and chill the people who are trying to change things.”—Howard Zinn, historian

Discredit, disrupt, and destroy.

That is how the government plans to get rid of activists and dissidents who stand in its way.

This has always been the modus operandi of the FBI (more aptly referred to as the Federal Bureau of Intimidation): muzzle anti-government sentiment, harass activists, and terrorize Americans into compliance.

Indeed, the FBI has a long history of persecuting, prosecuting and generally harassing activists, politicians, and cultural figures.

Back in the 1950s and ‘60s, the FBI’s targets were civil rights activists, those suspected of having Communist ties, and anti-war activists. In more recent decades, the FBI has expanded its reach to target so-called domestic extremists, environmental activists, and those who oppose the police state.

Back in 2019, President Trump promised to give the FBI “whatever they need” to investigate and disrupt hate crimes and domestic terrorism, without any apparent thought for the Constitution’s prohibitions on such overreach.

That misguided pledge sheds a curious light on the FBI’s latest nationwide spree of SWAT team raids, surveillance, disinformation campaigns, fear-mongering, paranoia, and strong-arm tactics.

For instance, just before dawn on Jan. 25, 2019, the FBI sent 29 heavily armed agents in 17 vehicles to carry out a SWAT-style raid on the Florida home of Roger Stone, one of President Trump’s longtime supporters. Stone, charged with a political crime, was taken away in handcuffs.

In March 2021, under the pretext of carrying out an inventory of U.S. Private Vaults, FBI agents raided 1400 safe deposit boxes in Beverly Hills, seizing “more than $86 million in cash as well as gold, jewelry, and other valuables from property owners who were suspected of no crimes.”

In April 2021, FBI agents raided Rudy Giuliani’s home and office, seizing 18 electronic devices. More than a year later, Giuliani has yet to be charged with any crimes.

In June 2022, Jeffrey Clark, a former Justice Department official under the Trump Administration, was led out of his home in pajamas while federal law enforcement officials raided his home.

In the summer of 2022, FBI agents wearing tactical gear including body armor, helmets and camouflage uniforms and carrying rifles raided multiple homes throughout Little Rock, Ark., including a judge’s home.

In August 2022, more than a dozen FBI agents searched Mar-a-Lago, the winter home of Donald Trump.

And in September 2022, 25 to 30 armed FBI agents raided the home of an anti-abortion activist, pointing guns at the family and terrorizing the man’s wife and seven children.

Politics aside, the message is clear: this is how the government will deal with anyone who challenges its authority.

You’re next.

Unfortunately, while these overreaching, heavy-handed lessons in how to rule by force have become standard operating procedure for a government that communicates with its citizenry primarily through the language of brutality, intimidation and fear, none of this is new.

The government has been playing these mind games for a long time.

As Betty Medsger, an investigative reporter for The Washington Post, noted in 1971, the FBI was engaged in practices that had never been reported, probably were unconstitutional, and were counter to the public’s understanding of the agency’s purpose.

The objective: target anti-government dissenters for wide-scale harassment, widespread surveillance and intimidation in order to enhance their paranoia and make them think there was an “FBI agent behind every mailbox.”

Medsger, the recipient of stolen government files that provided a glimpse into the workings of the nation’s most powerful law enforcement agency, would later learn that between 1956 and 1971, the FBI conducted an intensive domestic intelligence program, termed COINTELPRO, intended to neutralize domestic political dissidents.

The explicit objective, according to one FBI memo: “expose, disrupt, misdirect, discredit, or otherwise neutralize” perceived threats to the government’s power.

As Congressman Steve Cohen explains, “COINTELPRO was set up to surveil and disrupt groups and movements that the FBI found threatening… many groups, including anti-war, student, and environmental activists, and the New Left were harassed, infiltrated, falsely accused of criminal activity .”

Sound familiar? The more things change, the more they stay the same.

Those targeted by the FBI under COINTELPRO for its intimidation, surveillance and smear campaigns included: Martin Luther King Jr., Malcom X, the Black Panther Party, Billie Holiday, Emma Goldman, Aretha Franklin, Charlie Chaplin, Ernest Hemingway, Felix Frankfurter, John Lennon, and hundreds more.

Among those most closely watched by the FBI was King, a man labeled by the FBI as “the most dangerous and effective Negro leader in the country.” All told, the FBI collected 17,000 pages of materials on King.

With wiretaps and electronic bugs planted in his home and office, King was kept under constant surveillance by the FBI with the aim of “neutralizing” him. He even received blackmail letters written by FBI agents suggesting that he either commit suicide or the details of his private life would be revealed to the public. The FBI kept up its pursuit of King until he was felled by a hollow-point bullet to the head in 1968.

John Lennon, a vocal peace protester and anti-war activist, was another high-profile example of the lengths to which the Deep State will go to persecute those who dare to challenge its authority.

Lennon was singled out for daring to speak truth to power about the government’s warmongering, his phone calls monitored and data files illegally collected on his activities and associations.

For a while, at least, Lennon became enemy number one in the eyes of the U.S. government.

Years after Lennon’s assassination, it would be revealed that the FBI had collected 281 pages of files on him, including song lyrics.

J. Edgar Hoover, head of the FBI at the time, directed the agency to spy on the musician. There were also various written orders calling on government agents to frame Lennon for a drug bust. “The FBI’s files on Lennon … read like the writings of a paranoid goody-two-shoes,” observed reporter Jonathan Curiel.

As the New York Times notes, “Critics of today’s domestic surveillance object largely on privacy grounds. They have focused far less on how easily government surveillance can become an instrument for the people in power to try to hold on to power. ‘The U.S. vs. John Lennon’ … is the story not only of one man being harassed, but of a democracy being undermined.”

Indeed, all of the many complaints we have about government today—surveillance, militarism, corruption, harassment, SWAT team raids, political persecution, spying, overcriminalization, etc.—were present in Lennon’s day and formed the basis of his call for social justice, peace and a populist revolution. As Adam Cohen of the New York Times points out, “The F.B.I.’s surveillance of Lennon is a reminder of how easily domestic spying can become unmoored from any legitimate law enforcement purpose. What is more surprising, and ultimately more unsettling, is the degree to which the surveillance turns out to have been intertwined with electoral politics.”

The Church Committee, the Senate task force charged with investigating COINTELPRO abuses in 1975, echoed these concerns about the government’s abuses:

“Too many people have been spied upon by too many Government agencies and too much information has been collected. The Government has often undertaken the secret surveillance of citizens on the basis of their political beliefs, even when those beliefs posed no threat of violence or illegal acts on behalf of a hostile foreign power.”

The report continued:

“Groups and individuals have been harassed and disrupted because of their political views and their lifestyles. Investigations have been based upon vague standards whose breadth made excessive collection inevitable. Unsavory and vicious tactics have been employed—including anonymous attempts to break up marriages, disrupt meetings, ostracize persons from their professions, and provoke target groups into rivalries that might result in deaths. Intelligence agencies have served the political and personal objectives of presidents and other high officials.”

Fifty years later, we’re still having this same debate about the perils of government overreach.

For too long now, the American people have allowed their personal prejudices and politics to cloud their judgment and render them incapable of seeing that the treatment being doled out by the government’s lethal enforcers has remained consistent, no matter the threat.

The lesson to be learned is this: whatever dangerous practices you allow the government to carry out now, rest assured, these same practices can and will be used against you when the government decides to set its sights on you.

All of the excessive, abusive tactics employed by the government and its henchmen today will eventually be meted out on the general populace.

At that point, when you find yourself in the government’s crosshairs, it will not matter whether your skin is black or yellow or brown or white; it will not matter whether you’re an immigrant or a citizen; it will not matter whether you’re rich or poor; it will not matter whether you’re Republican or Democrat; and it certainly won’t matter who you voted for in the last presidential election.

At that point—when you find yourself subjected to dehumanizing, demoralizing, thuggish behavior by government bureaucrats who are hyped up on the power of their badges and empowered to detain, search, interrogate, threaten and generally harass anyone they see fit—remember you were warned.

Frankly, as I point out in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, we are long past the point where we should be merely alarmed.

These are no longer experiments on our freedoms.

These are acts of aggression by a government that is no friend to freedom.
 

marsh

On TB every waking moment

Fauci Net Worth Soared 66% During Pandemic

THURSDAY, SEP 29, 2022 - 08:20 PM

The net worth of Dr. Anthony Fauci's household soared a whopping 66% over the course of the pandemic, according to new financial disclosures obtained by OpenTheBooks.com. Fauci reported a Jan 1, 2019 net worth of $7,523,634. By Jan 1, 2022, it had grown to $12,677,513.

Values are as of Jan 1 each year. Chart via OpenTheBooks.com

As director of the National Institute of Allergy and Infectious Diseases, Fauci was paid a 2021 salary of $456,028, making him the highest-paid employee in the entire federal government. His wife, Christine Grady, is chief bio-ethicist for the National Institutes of Health, does very well too, raking in a $238,970 salary last year.

Fauci is famously paid more than the president, and his wife collects more than the vice president. However, those hefty federal salaries aren't the only driver of the Fauci household's pandemic-era enrichment.

In 2021, Fauci was awarded the Tel Aviv University-affiliated Dan David Prize, which came with a $1 million check. The prize committee said Fauci "has been widely praised for his courage in speaking truth to power" during the Covid-19 pandemic.

The committee was apparently oblivious that Fauci was the power and routinely spoke falsehoods about everything from the usefulness of masking to herd immunity, the efficacy of vaccines, and NIH funding of gain of function research at the Wuhan Institute.

As is customary, Fauci donated some of his prize money back to be awarded as student scholarships, but still pocketed $901,400, according to the financial statements reviewed by OpenTheBooks.com.

Though it's chump change compared to the Dan David Prize, Fauci also scored $12,500 from both the Elliot Richardson Prize in Public Service and the Abelson Prize from the American Association for the Advancement of Science, and got $5,198 when he was named Federal Employee of the Year at the 2020 Samuel J. Heyman Service to America Medals ceremony.

Fauci even did some moonlighting as an editor for McGraw Hill, taking home $100,000 for his work in 2021.

There's no indication Fauci made any "shrewd" investments a la Nancy and Paul Pelosi. According to the financial disclosures, Fauci's portfolio comprises broad mutual funds with no individual stocks:

"These funds were held in a mix of trust, retirement, and college education accounts. Fauci has an IRA worth $706,219 (up $67,700); a defined benefit brokerage account totaling $2,551,210 (up $147,688); and a revocable trust worth $7,014,197 (up $1,718,299). His wife’s revocable trust is worth $2,269,225 (up $306,406) and an IRA totaling $136,662 (up $16,385)," reports OpenTheBooks.com.

OpenTheBooks.com has filed four federal lawsuits against NIH to pry loose additional details not only about Fauci but also about royalties received by other NIH employees.

Though Fauci has announced he'll retire by the end of the year, the wheelbarrows full of taxpayer money will keep on rolling his way. When you're the highest-paid employee in federal government history and you've been on the federal payroll for more than 55 years, that'll make for an astounding pension of some $375,000 a year.

It's emblematic of the whole miserable Covid-19 spectacle: Bureaucrats wallow in government money while ordinary people suffer the ever-mushrooming destruction caused by public health's catastrophic lockdown and mandate regime.
 

marsh

On TB every waking moment

Putin Declares 4 Annexed Regions "Ours Forever", Blames US For Nord Stream Attacks​

FRIDAY, SEP 30, 2022 - 07:23 AM

Update(10:23ET): With the ink drying on the official annexation declarations newly signed by the heads of Luhansk, Donetsk, Kherson and Zaporizhzhia regions in Friday's historic ceremony - the key takeaway from President Putin's lengthy speech is that he declared a "mission accomplished" of sorts. He said these eastern and southern provinces are now part of Russia "forever". He even touted that the referendums were accomplished in line with the UN charter on self-determination for all peoples, and vowed "They have made their choice... this is the only path to peace. We will protect our land using all our forces and we will protect their security. We will of course rebuild all destroyed towns and continue building hospitals, theaters, and schools."

Putin bluntly informed the large audience of top officials at Saint George's Hall at the Grand Kremlin Palace of Moscow that there are now "four new regions of Russia" - a fait accompli that the Ukrainian government and its Western backers are rejecting, also on fresh reports that pro-Kremlin forces have suffered more setbacks in Donetsk in particular. Earlier in the week Moscow acknowledged that its "special operation" will continue until at least all of Donetsk is captured. At this point, none of the entirety of each of the four regions are yet under total Russian military control, the overwhelming "yes" votes among citizens in favor of joining the Russian Federation notwithstanding.

This means Kiev is of course unlikely to accept Putin's essential assertion of we've taken the four territories, now let the negotiations begin [our paraphrase]. "We call on the Kyiv regime to immediately stop hostilities and sit at the negotiating table," Putin said.

Certainly Washington and London will seek to ensure Kiev isn't enticed by this - also as the weapons shipments continue to ramp up, with longer range missile systems in the pipeline to boot. As for the newly annexed territories, Putin made clear in his speech that we "won't negotiate the status of the annexed territories" and further that he "won't discuss" the now finalized results of the referendums. This follows Crimea having long been taken off the table since its own popular referendum and annexation in 2014.

And with all eyes on the devastating sabotage against the Nord Stream pipelines, he pointed the finger squarely at Washington: "They are destroying European energy infrastructure... it's clear who benefits." According to his statements:

Putin blamed the United States for this week’s unexplained explosions at the Nord Stream pipelines that have left the damaged pipelines leaking huge amounts of natural gas into the Baltic Sea.

"It’s obvious to everyone who did it," he said.


On the issue of dwindling energy supplies and soaring costs headed into what's sure to be a rough, frigid winter for European populations, he slammed Western elites for a problem of their own making...

"They print money, but you cannot warm your homes with this printed money... They have to convince their citizens to shower less, eat less, and put on warm clothes."

"The Western elites.. it's a crisis due to their own fault." He described that the goal of the "hybrid war" in Ukraine has a "Goal to break Russia at any costs."


"The dictatorship of the Western elite is directed against all societies, including against the peoples of those Western countries themselves. It’s a challenge for all. This means the total negation of the human, the overthrow of religion and traditional values as the crushing of freedom becomes to look like the opposite of religion – open Satanism," he said, repeating a familiar theme of his, and while rejecting "LGBT"/gender ideology as a threat to Russian society which the West seeks to impose...

"Do we really want to have a parent No. 1, No. 2, No. 3 instead of mom and dad in Russia? Do we want children to be told that there are other genders besides men and women? Is this the future we want for our children? For us, this is unacceptable," the Russian president said.

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All eyes were also on the lookout for any references to Russia's nuclear stance, with The Moscow Times relating his words as follows:

He also slammed Washington's past use of nuclear weapons, comments that follow his warning last week that he "wasn’t bluffing" about resorting to "any means necessary" in Ukraine.

"The U.S. is the only country in the world to have used nuclear weapons," Putin said. "Creating a precedent."

As Putin spoke in the Kremlin, hundreds of Russians gathered in Red Square in front of a stage emblazoned with the words "Donetsk. Luhansk. Zaporizhzhia. Kherson. Russia!"


In the latest sign that following the annexation declaration things are only going to escalate from here, Ukraine's President Zelensky has on Friday responded to Putin's speech by requesting "accelerated" entrance into the NATO alliance.

And more of Ukraine's immediate response to Putin's annexation speech:

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* * *
Just ahead of a Friday ceremony declaring the official annexations of the four occupied Ukrainian regions which held controversial referendums, Russian President Vladimir Putin on Thursday signed two decrees which recognized the "independence" of Kherson and Zaporozhye regions.

"Recognize the state sovereignty and independence" of the Kherson and Zaporozhye regions "effective from the day of signing," the two decrees stated. This paved the way for Friday's ceremony where he's expected to give a major speech which will incorporate those two territories plus Donetsk and Luhansk. WATCH Putin's speech declaring annexation live:

View: https://youtu.be/yIuN6v_cmNM
1:10:40 min

According to Russian state media, "In the documents, Putin refers to the universally recognized principles and norms of international law, and the principle of equal rights and self-determination of peoples, enshrined in the UN Charter."

In contrast to this Kremlin perspective, Western officials and media sources are slamming the big 'land grab' - which comes at a moment the entirety of these territories are not yet under Russian military control. A White House statement said in response to the "sham" referendums, "The United States will never recognize Ukrainian territory as anything other than part of Ukraine. Russia’s referenda are a sham – a false pretext to try to annex parts of Ukraine by force in flagrant violation of international law, including the United Nations Charter."

Putin said in a televised meeting with officials on Tuesday as voting closed in the four regions: "Saving people in the territories where this referendum is taking place... is the focus of the attention of our entire society and of the entire country."

But according to the latest battlefield update from Reuters, which cites pro-Russian officials in the breakaway eastern republics, things aren't going well on Donetsk amid the ongoing large Ukrainian counteroffensive:

Russian forces in Ukraine were on the verge of one of their worst defeats of the war even as President Vladimir Putin was due to proclaim the annexation of territory seized in his invasion.

The pro-Russian leader of occupied areas in Ukraine's Donetsk province acknowledged his forces had lost full control of Dobryshev and Yampil villages, leaving Moscow's main garrison in northern Donetsk half-encircled in the city of Lyman.


In response to the declared Kremlin annexation of the four territories, Ukrainian President Volodymyr Zelenskiy has convened an emergency meeting of top officials on Friday in which "fundamental decisions" will be taken, according to a Ukraine official cited in Reuters.

Preempting likely Ukrainian escalation against the newly absorbed territories, the Kremlin has once again reiterated that "Any strikes targeting the new areas after their accession to Russia will be considered aggression against us," in a new Friday statement. Putin's speech is being delivered to a large audience of top officials in Saint George's Hall at the Grand Kremlin Palace.
 

marsh

On TB every waking moment

Red-Hot European Inflation Hits A New Record, Rising By Double Digits For The First Time​

FRIDAY, SEP 30, 2022 - 04:40 AM
Another month, another red hot inflation print in Europe.

In the flash inflation release for September, Euro area headline HICP inflation rose 82bp to a record 10.0% (technically 9.96%), well above the median forecast of 9.7% and marks the fifth straight month the result has exceeded consensus. Before the inflation data, every one of the 40 economists surveyed by Bloomberg predicted a record outcome this month, with four reckoning on 10%.

While energy and food once again drove inflation, an underlying measure that excludes them also topped estimates to reach an all-time high of 4.8%, above expectations of 4.70%, and piling pressure on the European Central Bank to keep raising interest rates aggressively.




Here are the key flash numbers for September:
  • Euro area Core HICP: 4.79% Y/Y vs. consensus 4.7%, last 4.3%
  • Euro area Headline HICP: 9.96% Y/Y vs. consensus 9.7%, last 9.14%
  • France Headline HICP: 6.23% vs consensus 6.6%, last 6.56%
  • Italy Headline HICP: 9.46% vs consensus 9.4%, last 9.11%
Main points:
  1. Euro area headline HICP inflation rose 82bp in September to 9.96%yoy, above expectations. Core HICP inflation, excluding energy, food, alcohol and tobacco, rose 49bp to 4.79%yoy, also above expectations.
  2. The breakdown by main expenditure categories showed services inflation rose five-tenths of a percentage point to 4.3%yoy, and non-energy industrial goods inflation rose 0.5pp to 5.6%yoy. Of the non-core components, energy inflation rose 2.2pp to 40.8%yoy, while food, alcohol and tobacco inflation rose 1.2pp to 11.8%yoy.
  3. In a separate release , French HICP headline inflation was 6.2%yoy in September, below consensus expectations. The press release notes a more marked seasonal downturn in travel-related prices as one of the drivers of the decline in inflation in September. In Italy, headline inflation surprised to the upside at 9.5%yoy, and the press release notes strength in non-durable and semi-durable goods, and food prices as the primary drivers of the increase.
The actual result masked considerable divergence across the euro region. In Germany, Europe’s biggest economy, price growth surged much more than expected. The end of summer discounts on public transport and fuel helped drive a gain there to 10.9%, the highest headline rate seen in the Group-of-Seven industrialized economies since the energy crisis struck. Italy, the Netherlands and Belgium saw significant accelerations too. By contrast, price growth unexpectedly slowed in France and weakened much more than expected in Spain.



Europe's inflation data have proven critical in driving momentum toward large rate hikes in previous months, and this result is likely to embolden calls for another large move at the next ECB decision on Oct. 27. Investors this week began pricing in a second straight 75 basis-point increase.

“The next step still has to be big because we are still far away from rates that are consistent with 2% inflation,” ECB Governing Council member Martins Kazaks, said Wednesday in an interview in Vilnius, Lithuania, where price growth was 22.5%. “I would side with 75 basis points.”

While officials ramped up their aggression with a move of that size on Sept. 8, they’ve also sought to differentiate the euro zone’s experience with that of the US, insisting that inflation in their own region is far more supply-driven than the demand-propelled consumer-price situation across the Atlantic.

Even so, Bloomberg notes that policy makers will be nervous at yet another record reading. Boris Vujcic, the Croatian central-bank governor who will join the ECB Governing Council in January, warned in an interview published this week that “when inflation is high, when it nears double-digit levels, it can become a disease in itself.”

With Russia starving Europe of gas supplies and winter approaching, policy makers are bracing for an even more difficult few months. Price increases may yet accelerate further in some countries, while recessions are becoming increasingly likely.

The latest OECD forecasts chime with that view. Officials on Monday raised their projection for euro-zone inflation next year by 1.6 percentage points to 6.2%, noticeably exceeding the ECB’s own outlook. Hours later, ECB President Christine Lagarde reiterated that her officials also see the danger of a higher outcome.

“The risks to the inflation outlook are primarily on the upside, mainly reflecting the possibility of further major disruptions in energy supplies,” she told lawmakers. “We expect to raise interest rates further over the next several meetings to dampen demand and guard against the risk of a persistent upward shift in inflation expectations.”

A relatively tight labor market may intensify such pressures. A separate report from Eurostat showed euro-zone unemployment held at a record-low 6.6% in August.

Looking ahead, Goldman now expects Euro area core inflation to peak at 5.0%yoy in December, and looks for headline inflation close to peak at 11.7%yoy in January.

 

marsh

On TB every waking moment
(UK)

Pound Tumbles After Truss Signals No Reversal In Fiscal Stimulus Plans​

FRIDAY, SEP 30, 2022 - 05:20 AM

After surging for three days in a row, at one point unwinding all of its losses since last Friday's shock mini-budget announcement, on expectations that UK PM Liz Truss may reverse on her fiscal policies and some speculating that Chancellor Kwarteng may exit the government...



... the pound resumed its plunge after 5am ET when it emerged the UK Treasury hasn’t asked its fiscal watchdog to accelerate its economic forecast, confirming that the government has no plans to backtrack on the economic strategy roiling markets.

As Bloomberg adds, there are also no plans to alter the timetable for Chancellor of the Exchequer Kwasi Kwarteng to publish a full forecast from the Office for Budget Responsibility on Nov. 23, alongside his medium-term fiscal statement, the Treasury said Friday in a statement following a meeting between Truss, Kwarteng and OBR Chairman Richard Hughes.

The unusual meeting between Hughes and the government’s top two figures comes after Truss’s new administration came under heavy fire from economists and politicians for announcing last Friday the biggest set of unfunded tax cuts in half a century, while declining an offer from the OBR to provide an independent forecast.

The fallout was dramatic, with the pound plunging to a record low against the dollar earlier this week, and the Bank of England forced to intervene to prevent a meltdown in the bond market. Yet despite that, the outcome of Friday’s meeting shows Kwarteng and Truss are sticking to their guns, despite global from such places as the IMF and the White House.

Earlier on Friday, Andrew Griffith, a junior Treasury minister, sought to justify the lack of a forecast last week by saying the government had more plans to announce that needed to be factored in.

Following the news that the market was wrong in expecting a reversal, the pound fell against the dollar, having earlier risen on market expectations that the government might reassess its fiscal plans. It was 0.4% lower at $1.1075 as of 12:30 p.m. in London.

Still, some stability may be on deck: as Bloomberg notes, Truss will be hoping that visibly engaging with the fiscal watchdog will help to calm market nerves. Yet much depends on what the OBR makes of her economic plans, especially given the tax cuts were announced before accompanying policies were finalized. The government is still drawing up its medium-term fiscal plan, which is key to restoring its battered credibility with markets.

In Friday’s meeting, Hughes is likely to have run Kwarteng and Truss through the early forecast and indicated what savings the chancellor will need to bring debt down as a share of GDP in the fifth year of the outlook, a person familiar with the process said. However, the person said the OBR’s briefing is likely to have been uncomfortable for the government. In the 12 years since it was created, the watchdog has never increased its estimate of the UK’s long-term average growth rate -- something Kwarteng is relying on to help close the budget deficit and bring the national debt under control. It is likely he will need to find tens of billions of pounds of savings, if he wants to stick with the announced £45 billion ($50 billion) of tax cuts and restore his party’s reputation for sound money.

The OBR said after Friday’s meeting that it would deliver the first iteration of its forecast to Kwarteng on Oct. 7. “The forecast will, as always, be based on our independent judgment about economic and fiscal prospects and the impact of the Government’s policies,” it said in a statement.

Meanwhile, amid the fallout from the market turmoil, the opposition Labour Party has soared to a record 33-point lead in YouGov polling, and while the next general election is not due for another two years, the atmosphere is febrile heading into the Tory party’s annual conference, which starts Sunday in Birmingham.

In a private WhatsApp message to Tory MPs, Kwarteng on Thursday pleaded with colleagues to back the government’s plans and not to air their criticism in public. “We need your support to do this as the only people who win if we divide is the Labour Party,” he said in the message seen by Bloomberg.

Speaking on BBC Radio 4 on Friday, senior Tory backbencher Geoffrey Clifton-Brown urged Truss’s government to bring forward “as much as possible” its next financial statement to give a full picture of its plans.

“We’ve got to give her a little bit of time,” said Clifton-Brown, who is also an executive of the 1922 Committee of rank-and-file Tories that decides party rules. “And time especially to try and reassure the markets that they know exactly what they want to do for the economy.”

As Bloomberg concludes, those kinds of remarks so soon into an administration will ring alarm bells for Truss, who has made the most turbulent debut of any British prime minister in peacetime.
 
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