GOV/MIL Main "Great Reset" Thread

marsh

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Europe Tries Desperately To Rein In Elon Musk Because Free Speech Threatens The Regime’s Grip On Groupthink​

BY: SAMUEL MANGOLD-LENETT
DECEMBER 01, 2022

If Musk emboldens dissident voices, then entrenched interests could be at risk of losing their power.

The European Union (EU) reportedly threatened to ban Twitter from the continent on Wednesday if the company’s new owner, Elon Musk, doesn’t adhere to strict content moderation guidelines.

This warning shot was fired by EU industry chief Thierry Breton, who indicated that the guidelines Musk’s Twitter must follow were detailed in the European Commission’s Digital Services Act (DSA). These guidelines include surrendering the platform to “independent audits” conducted by “independent” third parties and the implementation of “mechanisms to adapt swiftly and efficiently in reaction to crises affecting public security or public health,” among other things.

Breton indicated that in order to prevent Twitter from being banned in Europe, the tech entrepreneur will have to part ways with his “arbitrary” approach to reinstating the accounts of people previously banned from the platform. Musk must also surrender the platform to an “extensive independent audit” by 2023.

Reportedly, Breton told Musk that the platform must “reinforce content moderation” and “aggressively” root out disinformation.

On one hand, the EU’s stipulations sound somewhat reasonable; after all, the DSA requires Twitter to report if criminals are using the platform to conduct illegal activities. On the other, this move is utterly deranged and should not be tolerated. Who is the EU to strong-arm an American company?

Previously, Musk indicated that under him, Twitter would constrain itself to the laws of the lands in which its users operate. And, to be fair, this is a reasonable approach to doing business; after all, companies like Kellogg’s adhere to the standards laid about by the European Food Safety Authority.

But Twitter isn’t in the business of producing breakfast cereals, and the regulation of a tech company is undoubtedly more complex than determining the appropriate ratio of high-fructose corn syrup or yellow dye allowed in products for mass consumption. The EU’s gripe with Twitter, as indicated by Breton’s statements, is the potential proliferation of information and speech that threaten the entrenched interests of the ruling regime on the European continent.

The fact that freedom of speech is largely a political phenomenon unique to the United States and that Big Tech found its roots in the same country isn’t a coincidence. Neither is the fact that in its earliest days, Big Tech’s pioneers insisted that their inventions would be used for the proliferation of free speech around the globe. The naivety of this nouveau neoliberalism was short-lived, however, as the cynical realities of running massive transnational corporations became all too real.

Previously, Twitter was one of the international managerial elite’s favorite inventions because it allowed them to set and control the narratives that gave direction to the world’s governments, markets, and more. Now that these people have lost control of the machine that put them at the center of the universe, they want to see it stripped of all utility.

Musk’s re-platforming of dissident voices on a massively popular social media platform that is taking steps, however imperfectly and incompletely, to no longer unfairly, algorithmically suppress counternarrative speech threatens the legitimacy of the EU. If there are enough anti-regime people in Europe who can successfully use the platform to mobilize the masses, what’s to stop another country from successfully organizing a populist, Brexit-style referendum and further delegitimizing the EU? What’s to stop faltering regional secessionist movements, like those in Catalan, from regaining momentum?

European leaders may claim their tech interests are grounded in humanitarian concerns, but this is simply a farce. If these people actually cared about human rights or any of the other buzzwords they throw around, they would institute large-scale outright bans on tech companies operated under the purview of oppressive governments such as China’s Huawei instead of playing footsie with tyrants.

Surely, these are matters of concern, but what does catering to the EU’s demands mean for free speech here? Why should the preferences of unelected European bureaucrats determine which American citizens are able to speak and what information we are able to consume?

At the end of the day, Musk has to do what is best for business. He has to keep the lights on so he can recoup the $44 billion spent to purchase Twitter in the first place. And Europe is a big place with a lot of people whose use of Twitter can make Elon a lot of money. Musk has made clear that under his leadership, Twitter will adhere to all relevant laws to which it may be subject while neutrally enforcing content moderation guidelines. Simultaneously, he is fending off a hostile regime at home that seeks nothing less than his complete ruination for deregulating digital speech.

At the time of writing, Musk hasn’t issued a public statement on the EU’s threat, but more alarmingly, no major American politicians have spoken out about a foreign entity attempting to force an American company to censor itself.
 

marsh

On TB every waking moment

Farm Share of the U.S. Food Dollar Hit a Record Low; What Does this Mean for Producers?​

By JENNA HOFFMAN December 1, 2022

The farm share of the U.S. food dollar has been tracked since 1993. The 2021 data provided by the USDA on Monday shows U.S. farm share hit an all-time low.

Food Dollar

USDA found that out of every food dollar spent, the farmer receives 14.5¢. This is down from 2020’s 15.5¢.

Seth Meyer, USDA’s chief economist, says the decrease in return doesn’t necessarily mean a producer is making less in a given year.

“If the farm share’s slice of the product pie is growing, while the pie as a whole is growing, the farm is better off in the long run,” he says.

However, Meyer says there are “bits and pieces” of the piece that eat up both food and farm shares even when overall prices go up. Some of these include:

• How much consumers are eating out
• Commodity prices
• Wholesale trade prices
• Transportation and freight costs

The Year Ahead
According to Meyer, eating out attributed most to the farm share decrease this year, but there may be next year.

Looking to 2022’s farm share predictions, Meyer thinks the trend of food away from home will slow, along with the disruptions from supply chains. However, other political and biological factors such as the war in Ukraine and avian influenza could put the coming year in jeopardy.

Do You Know Your Value-Added Opportunities?
To make the most of the farm share, Meyer suggests producers look at every angle of value-added that's at their disposal. He offers an example:

“In cattle, you have to consider if there are some value-added aspects beyond simply sending your calf to the feedlot or finished cattle to the slaughter plant,” he says. “Are there some elements that you can try and grab above that from a marketing standpoint? Or do you focus on just being a great cattle producer that makes efficient gains?”

Meyers says many opportunities in both incentives and consumer preferences often go untapped as well. He challenges producers to weigh the options.

“If consumers want that [climate-smart option] and are willing to pay, is USDA’s Climate Smart Commodities program an opportunity to make your operation better off when it comes to the share of the food dollar? You have to ask yourself these questions,” Meyer says.
 

marsh

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Watchdog Group Sues Biden’s DHS For Records On Alleged Coordination To Censor Americans

President Biden Meets With Business And Labor Leaders At The White House
(Photo by Win McNamee/Getty Images)

Daily Caller News Foundation logo
ALEXA SCHWERHA
CONTRIBUTOR
November 30, 2022

Judicial Watch, a conservative watchdog group, filed a lawsuit against the Department of Homeland Security (DHS) on Nov. 22 after it failed to complete a Freedom of Information Act (FOIA) request into communication records regarding alleged online censorship during the 2020 presidential election.

The watchdog group was seeking communications between the Cybersecurity and Information Security Agency (CISA), a DHS subdivision, and the Election Integrity Partnership (EIP), an “information exchange” between researchers, election officials and government agencies established in 2020 to identify and research online misinformation leading up to elections that flagged social media posts for platforms to address. Judicial Watch demanded that the Washington D.C. District Court order the DHS to acknowledge the Oct. 5 FOIA request and “produce… non-exempt records responsive to the requests,” according to the lawsuit.

“We’ve had these disclosures essentially over the last year that federal agencies, especially DHS, hav been working to censor Americans… either directly or indirectly,” Judicial Watch President Tom Fitton told the Daily Caller News Foundation.

Through the EIP, multiple groups, including CISA and liberal groups such as the Democratic National Committee and the NAACP, could file “tickets” reporting potential election misinformation, which EIP would then forward on to social media platforms after an investigation into the claims. The EIP released a 2021 report detailing its efforts to address misinformation in the 2020 election in which it acknowledged it had shared hundreds of posts with online platforms, with “35% of the URLs we shared with Facebook, Instagram, Twitter, TikTok, and YouTube […] either labeled, removed, or soft blocked.”

“This lawsuit’s designed to get into that. There’s these federal frauds that colluded to come up with a system of censorship for social media, and it looks like this [Department of Homeland Security] agency participated in it and we want to figure out what was going on,” Fitton said.

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Judicial Watch also requested records between CISA and the University of Washington’s Center for an Informed Public and the Stanford Internet Observatory, both of which were part of the EIP. The request specifically asked for communication about the 2020 election and “online misinformation and disinformation.”

However, DHS allegedly failed to adhere to the Nov. 3 FOIA deadline, according to the lawsuit.

“When an agency unlawfully refuses to comply with FOIA, we have the option of suing the federal court, which is what we did,” Fitton told the DCNF.


House Republicans also launched an investigation into Google, YouTube, Twitter, and Facebook about their role in online censorship. Amazon, Apple, TikTok and Microsoft are also under investigation by the House Judiciary Committee, The Washington Times reported.

Republican Rep. Dan Bishop of North Carolina reportedly made a request for all communication between the Biden administration and social media corporations pertaining to “digital censorship.”

“This is a threat to the first Amendment like we’ve never seen in modern history,” Fitton said.

The White House, DHS, CISA, the EIP, University of Washington Center for an Informed Public and the Stanford Internet Observatory did not immediately respond to the DCNF’s request for comment.
 

marsh

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EXCLUSIVE: ICE Is Underreporting Illegals It Releases Into The Country Without Tracking Equipment By Over 18,000%​

Daily Caller News Foundation logo

JENNIE TAER INVESTIGATIVE REPORTER
December 01, 20223:14 PM ET

Immigration and Customs Enforcement (ICE) is underreporting the number of illegal aliens released into the country without any tracking technology by more than 18,000%, according to an internal document exclusively obtained by the Daily Caller News Foundation.

ICE disseminated the document to participants, including ICE Director Tae Johnson and other top agency officials as well as leaders from nonprofit organizations, of a Thursday event about ICE’s “Alternatives to Detention” program, which the agency put in place in 2004 to monitor illegal aliens released into the U.S. interior with ankle bracelets and cell phones. ICE disclosed to the attendees that there are 49,459 illegal aliens that aren’t monitored with any tracking equipment as of Nov. 14, while its own website says there are 266 as of Nov. 19.

The figure sent to the program attendees is over 18,000% more than the figure ICE has on its website. ICE didn’t respond to the DCNF’s request for comment.

“The Biden administration is hostile to transparency, and when it does publish data, it refuses to respond to media inquiries regarding significant discrepancies like this,” a former ICE official with knowledge of the Alternatives to Detention program told the DCNF, confirming the figure was underreported. “Likely, ICE communication staffers are having a lot of difficulty defending this administration’s chaotic and lawless policies.”

An additional person familiar with the program confirmed the accuracy of the number disclosed to event participants.

The agency put Alternatives to Detention in place in 2004, and is used as a “flight-mitigation tool” when illegal aliens are released into the country and are waiting for their years-long court proceedings, according to the document.

Scribd doc on website
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Download this PDF
ATD Symposium Fact Sheet by Daily Caller News Foundation

The Biden administration continues to face many challenges with immigration enforcement, in part due to a record surge in illegal migration and a push to limit ICE enforcement and deportations since the president took office. U.S. Customs and Border Protection (CBP) encountered more than 2.3 million migrants at the southern border in fiscal year 2022 and more than 230,000 migrants in October.

Biden’s DHS also attempted to implement a 100-day moratorium on deportations upon entering office, but a federal judge subsequently struck down the policy.

UPDATE: This story has been updated to include comments from a former ICE official with knowledge of the Alternatives to Detention program.
 

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Veteran Member


With more than 700 million views on TikTok, ‘cash-stuffing’ is one of the hottest money trends among the Gen Z set. But pros say this ‘effective’ strategy can be lucrative for millions of others too.​

Updated: Dec. 2, 2022 at 5:59 a.m. ET
By

Alisa Wolfso​


What is cash stuffing and could it help you save money​



What is cash stuffing?​


Thanks to a mild obsession with so-called “cash stuffing” — which has racked up more than 700 million views on TikTok — Gen Z has made an old-school money hack a viral sensation.

Cash stuffing is a technique that encourages people to pay for things with cash, and as a result, they should end up saving more of their money. Typically, the money you use for cash stuffing is stuffed away inside an envelope or binder until you need it. If you can’t afford something with the cash you stuffed away at the start of the month, then you go without it,” explains Jacob Channel, senior economist at LendingTree.

If this sounds familiar, that’s because it is: Cash stuffing mimics a strategy used by Dave Ramsey, known as the envelope system. Whatever you call it, Channel says that being able to tangibly hold and count money can give people a better sense of just how much money they have or are planning to spend. “If you end up with extra cash in your envelopes at the end of the month, you can turn around and stash it away to boost your savings,” says Channel.

“Psychologically, I’ve heard from several clients and colleagues that it’s more difficult to physically spend cash than swiping a debit or credit card,” says certified financial planner Jesse Wideman, Jr. at Facet Wealth.
Indeed, cash stuffing is designed to help people save money, build savings, pay down debt and eliminate mindless online shopping. “It has proven to serve as an effective way to save money … however like many things, it has pros and cons. I generally would highlight the strategy with people that have identified issues with variable and miscellaneous spending in a month or issues with spending too much on credit,” says Wideman.

Cash stuffing isn’t the answer for everyone, especially someone who shops frequently at card-only retailers, but Channel says someone who has trouble keeping track of their spending could benefit from using this method. Additionally, “someone with poor impulse control who can’t trust themselves not to spend money on non-necessities when all they have to do is swipe a card, and a person who doesn’t have much experience budgeting and who learns best when they can physically hold and sort their money could benefit,” says Channel.

Cash stuffing certainly limits spending power because you’re physically restricted to whatever cash you’ve set aside for your different budget categories, but like any trend, it’s not completely flawless. “One of the biggest issues is the problem that many cash positions carry, inflation,” says Wideman.

Another downside? “Cash stuffing can sometimes be overly restrictive, especially if a surprise emergency expense comes up. However, if you have an emergency fund set aside, you might not have to worry about this downside,” says Chanelle Bessette, banking specialist at NerdWallet.

McAtee says, if cash stuffing isn’t right for you, you may want to consider making a more stringent personal budget for all of your incomes and expenses. “Another way is to have a more holistic approach to budgeting by using your own system like Excel to help track your past financial transactions, monitor your current financial transactions and quickly adjust your future budgeting goals,” says McAtee.

The advice, recommendations or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our commercial partners.
 

marsh

On TB every waking moment

Supreme Court to hear Colorado case pitting free speech rights v. minority groups' rights​

Smith says Colorado’s law compels her speech as an artist to create messages that go against her traditional beliefs on marriage.

By Derek Draplin | The Center Square
Updated: December 2, 2022 - 6:50am

The U.S. Supreme Court will hear oral arguments starting next week in what could be a landmark case centered on a Colorado small business owner’s free speech rights.

Lorie Smith, owner of graphic design company 303 Creative in Littleton, Colo., is challenging the state’s public-accommodation law, which she argues is compelling her speech. Smith wishes to create wedding websites only for straight couples, citing her religious beliefs.

Colorado argues this would violate the state’s public-accommodation law, which prevents sales discrimination but does not regulate speech.

The case also mirrors another high-profile case from Colorado that worked its way up to the Supreme Court but ended with a narrow ruling. In Masterpiece Cakeshop v. Colorado Civil Rights Commission, the court determined that the commission discriminated against the shop’s owner, Jack Phillips, who refused to make a cake for a same-sex marriage wedding but did not address free speech rights.

Smith says Colorado’s law compels her speech as an artist to create messages that go against her traditional beliefs on marriage.

State law reads in part: “It is a discriminatory practice and unlawful for a person, directly or indirectly, to refuse, withhold from, or deny to an individual or a group, because of disability, race, creed, color, sex, sexual orientation, gender identity, gender expression, marital status … the full and equal enjoyment of the goods, services, facilities, privileges, advantages, or accommodations of a place of public accommodation…”

According to Smith, the artwork she creates with her business is custom, “but Colorado is … compelling my speech and forcing me to use my artwork to design and create and celebrate messages that violate my beliefs.”

The Colorado attorney general’s office says giving Smith an exemption from state law would pave the way for businesses to discriminate against prospective customers.

“The nation and the state of Colorado have long required businesses open to the public to serve all customers. The U.S. Supreme Court has repeatedly affirmed the state’s ability to prevent sales discrimination,” Lawrence Pacheco, the office’s communications director, told The Center Square. “Abandoning this important and longstanding principle now would allow businesses to discriminate based on who customers are, including on the basis of gender, race, and religion. The Court should protect these important civil rights.”

Smith’s attorney with Alliance Defending Freedom, the conservative law firm that also represented Phillips in his case, argues a ruling in Smith’s favor would mean LGBT graphic designers wouldn’t be forced to create websites against their beliefs, such as one criticizing same-sex marriage.

“A ruling in Lorie’s case would protect the LGBT graphic designer who doesn’t want to be forced to criticize same sex marriage just as much as it would protect Lorie,” ADF attorney Kellie Fiedorek said.

The Colorado attorney general’s office maintains the state’s anti-discrimination law “regulates sales, not speech.”

“What a business chooses to sell to the public remains entirely up to the business,” Pacheco added. “Therefore, a public business that designs and offers LGBTQ-themed websites must offer those LGBTQ-themed websites to all customers, even if those customers are opposed to same-sex marriage because of their religion.”

The case, 303 Creative LLC v. Elenis, has drawn dozens of amicus briefs on both sides of the issue.

Rob Natelson, a senior fellow in constitutional jurisprudence with the Denver-based Independence Institute, told The Center Square that it will be interesting to see if the court goes the route of the U.S. Constitution’s original meaning or balancing.

“In the 303 Creative case the Court of Appeals said [Lorie] has a free speech right in making websites but the state has a compelling interest in protecting marginalized groups, and the law is narrowly drafted to promote that interest, and therefore her right is outweighed,” he told The Center Square.

“Now that doesn’t really work very well with the First Amendment,” Natelson added. “The First Amendment says the right to free speech shall not be infringed, right?

“I think she will win because the implications of allowing the state to force her to say things are really grave and, from a constitutional standpoint, the real interesting question is whether they use this 20th Century methodology that’s really divorced from the real meaning of the constitution, or whether they do what they did in the New York State Rifle Association case and go back to the original meaning of the constitution and decide it on that ground.”

Smith described in an interview the 6-year-old case as a “rollercoaster ride” – from lower courts siding with the state to being harassed, doxxed, and even facing death threats.

“I think the hardest part for me is that those who oppose my view on marriage may not really understand that what I’m standing to protect – the right to speak freely protects all of us,” she said. “Not only does it protect me but it protects the LGBT web designer who shouldn’t be forced to promote messages opposing same-sex marriages.”

Smith and her attorney are hopeful the Supreme Court will rule in her favor.
“The Constitution is very clear that the government cannot compel speech, it cannot compel expression,” Fiedorek said. “Every single one of the justices has taken an oath to uphold that Constitution, so we’re very hopeful that they will rule in favor of free speech and not force artists to say something they don’t want to.”

Oral arguments in the case are scheduled for Monday, Dec. 5.
 

marsh

On TB every waking moment

RUSSIA PLANS TO UNLEASH GOLD-BASED CURRENCY: Gold Soars To $1,817 As Gold Futures Surge Another $57 And Silver Hits $23​

December 01, 2022

It appears Russia plans to unleash a gold-based digital currency and it is causing major moves in currency and metals markets.

Winter In Central Europe And For The Dollar

December 1 (King World News) –
Alasdair Macleod: In this article I examine the current state of the fight for hegemonic control between America on the one side, and Russia and China on the other. It is being fought on two fronts. Ukraine, the one in plain sight, is about to endure a winter without power and adequate food potentially leading to a humanitarian crisis.

The other front is financial with America facing a coordinated attack by Russia and China on its dollar hegemony. The Russians are planning a replacement trade settlement currency, which if it succeeds, could unleash a flood of foreign-owned dollars onto the foreign exchanges.

We have no way of knowing how advanced this plan is, but the indications point perhaps to a gold-based digital currency. Moscow establishing a new gold exchange, Asian central banks accumulating additional gold reserves, and Saudi Arabia seeking non-dollar payments for oil sales are all circumstantial evidence.

As well as these plans, there has been an underlying shift away from a long-term everything financial bubble, with the prospect of higher interest rate levels in time. The reasons for foreign ownership of fiat dollars are diminishing, and a successful new Asian trade currency will only add to the dollar’s woes.

Could this pressure compel America de-escalate Ukraine and sanctions against Russia? The argument to do so has become compelling. It is also a way to lower energy prices, giving central banks needed room for interest rate manoeuvre.

Russia is making the most of winter
The evidence that Russia is intent on breaking the will of the Ukrainian people is mounting. As the snow begins to settle, Russia is knocking out the power generation necessary to keep people warm and alive. It is a modern variation on the medieval siege. But instead of surrounding a city or castle and starving the residents into submission, by making conditions impossible they expect the Ukrainians to leave.

Nearly eighty per cent of that unfortunate country’s population is Ukrainian, as opposed to Russian. But that is based on officially recognised national boundaries and is not adjusted for the regions Russia gained in the East, including Crimea, in 2014 and subsequently. That leaves a potential refugee problem of 34 million Ukrainians fleeing impossible energy-starved living conditions with scarce food as the cruel winter grinds on.

It takes two sides to make a proxy war. You wouldn’t believe it from the western media, but Putin has been careful to not escalate the situation into an official war and drawing NATO into direct confrontation. Instead, he is using the Ukrainian constitution which protects ethnic Ukrainians, but not minorities including Russian speakers. Effectively, they are denied human rights and gives Putin the excuse to rescue them.

This legal ethnicity in Ukraine’s constitution is unusual today, a feature shared with Nazi Germany. It allows the Russian propaganda machine to accuse the Ukrainian regime of being a Nazi state. Russia’s “special operations” were to rescue ethnic Russians in accordance with international law and explains why they have offered them Russian passports and safe passage from the Donbas and Kherson. Following acts such as the car bomb in Moscow which killed Darya Dugina, the daughter of a prominent Putin ally, and the bombing of the Kerch bridge Putin has accused Ukraine of terrorist acts for which Russia seeks retribution. Again, anti-terrorist activity is a device to avoid a declaration of war while justifying further action…

As the winter progresses, 34 million Ukrainians will therefore face the choice of becoming refuges or dying of cold and starvation. Now that the snow has arrived, the Russians have started targeting Ukraine’s energy supplies. The timing is no accident and the EU’s leaders can now envisage the likely consequences. But in relying on NATO for their ultimate protection, the Brussels establishment does not see Nato’s policy changes as its responsibility and so by going along with American’s leadership they have neglected their own interests.

But the Americans now appear to understand the looming danger of winter with no power. Doubtless, this is what led William Burns, the CIA’s director to meet his opposite Russian intelligence chief in Ankara two weeks ago. The official story was that Burns was there to warn the Russians not to resort to nuclear weapons and to raise the issue of US prisoners. But there is little doubt that this back-channel meeting was to explore compromises before America finds itself a party to the cruel sacrifice of the Ukrainian population in a proxy war.

Negotiations will not be a slam dunk
In the great game of geopolitical strategy, bringing the Americans to the negotiating table can be chalked up as a win for the Russians. But it is not just about a proxy war on Ukrainian soil. Both Russia and America have overriding objectives. The Russians want to secure their western borders, which means American military withdrawal from all border nations at the least — Lavrov has mentioned 300 miles being the missile range. The US will undoubtedly resist these demands, because to give up effectively on its post-war role as the protector of Europe through NATO would be an open admission of defeat on the world stage. It would mean the end of US global hegemony, which the Americans are desperately clinging on to. Furthermore, it is a defeat that would enhance Russia’s power not just in the Western European arena, but through its partnership with China over the entire Eurasian continent.

From the US’s point of view, negotiations with Russia will probably turn out to be an exercise in damage limitation — like the withdrawal from Afghanistan. She needs to get to the table before the situation deteriorates much further. And other than the Ukraine situation they have three pressing problems to consider:

  • There is little doubt that the EU’s troubles will escalate this winter, with energy shortages, exorbitant food prices, and rocketing production cost likely to be the most severe test the EU has ever had to deal with. It comes at a time when the euro system faces instability which could take down major banks and expose the euro system itself as insolvent. Systemic risk would then almost certainly translate into an existential threat to the US banking system.
  • The US is fighting not one but two new hegemons in Russia and China which have teamed up to form a new Asian-based world order with commodity and raw material suppliers worldwide. Purely on a population basis, a rapidly industrialising Asia with its associated interests in the Shanghai Cooperation Organisation, the Eurasian Economic Union, BRICS, the whole of Africa and large swathes of South America outnumber the North Americans, NATO members, Japan, South Korea, and some less certain US allies by at least six to one.
  • The core of this Chinese-Russian partnership is determined to dispose of the dollar for trade settlement as far as possible. As one of the two parties behind the creation of the petrodollar, the Saudis are realigning themselves with the Asian trade bloc. Further moves in this direction are sure to undermine the dollar’s hegemony, the principal source of America’s power over other nations.

The EU dimension
You can tell that dissention is now evident in the EU, with the EU accusing the Americans of profiteering from the Ukraine war. This was from Politico earlier this week:

“The fact is, if you look at it soberly, the country that is most profiting from this war is the U.S. because they are selling more gas and at higher prices, and because they are selling more weapons,” one senior official told POLITICO.

The article goes on:

“The explosive comments — backed in public and private by officials, diplomats, and ministers elsewhere — follow mounting anger in Europe over American subsidies that threaten to wreck European industry. The Kremlin is likely to welcome the poisoning of the atmosphere among Western allies. ‘We are really at a historic juncture,’ the senior EU official said, arguing that the double hit of trade disruption from U.S. subsidies and high energy prices risks turning public opinion against both the war effort and the transatlantic alliance. ‘America needs to realize that public opinion is shifting in many EU countries.’”

Realistically, America can only keep its principal EU allies on side if it addresses these concerns. Attributed almost entirely to sanctions against Russia at America’s behest and to Putin’s reactions to them, rising prices are creating political pressures on the ground likely to force politicians to seek an early end to sanctions. In this respect, time is on Russia’s side…

But it is not just in the EU that these pressures have arisen. The new global trend of rising prices is affecting the EU more than most, the European Central Bank having held its deposit rates in negative territory for a considerable period of time. Like other central bankers, ECB officials failed to plan for an exit route from interest rate suppression and are more badly wrong-footed than most central banks. It was a policy which encouraged commercial banks into risky territory.

Compressed lending margins forced major commercial banks to maintain profits by leveraging their balance sheets to record levels. The dead hand of negative rates, amounting to a tax on reserves held within the euro system was a burden on banks’ performance. While the increase in rates has initially been a profit bonanza for the banks, they are now exposed to losses from declining asset values and non-performing loans. And with the ECB’s deposit rate still only 1.5% when official price inflation is running at over 10%, far higher interest rates are inevitable. Unless somehow price inflation can be brought down significantly, the consequences will be to create huge losses for the banks from financial assets both on-balance sheet and in the form of collateral — losses that will wipe out shareholders’ capital.

The inflation problem is now manifest in an energy crisis arising from sanctions against Russia. To prevent the entire euro system being destabilised,
the obvious short-term solution is to treaty with Russia. The removal of this source of rising prices would in turn reduce the outlook for euro interest rates, stabilising the entire euro system. We can be sure that the ECB and its network of national central banks will be pointing this out to their politicians.

Indeed, an ending of the sanctions would give stock markets and bond prices an almighty boost, at a time of growing concerns over a global recession. Let there be no doubt: the west’s policies against Russia are nothing short of suicidal. And politicians in Brussels would be blind not to see it.

The conflict between the US and the two Asian hegemons is escalating
From Russia’s point of view, America’s precipitative withdrawal from Afghanistan and the replacement of an unpredictable President Trump with an aging Biden, known to the Russians through his background in US foreign affairs, confirmed that America’s global influence was failing. For Russia, with Britain out of the EU it was a good time to escalate tensions between America and Western Europe to side-line America from Europe.

Putin has shown high level skills as a political operator — he had to have them in order to successfully navigate his way through the mess left by Yeltsin to a position of ultimate power. Before escalating the Ukraine situation, we can be certain he anticipated both American-led sanctions and calculated his response. That the Americans have tentatively signalled that they are now prepared to negotiate confirms the success of Putin’s Ukraine strategy. Now, with the onset of winter he can afford to wait. And the longer he waits, the greater the squeeze on Ukraine and the EU.

America is fighting this power game on two fronts: Russia and China. She cannot be too aggressive against China because the US is still mightily dependent on its economy. The US is resorting to selective technology bans and not much else. Having exported manufacturing supply chains to China and Southeast Asia, large US corporations cannot afford to see their supply chains undermined by aggressive foreign policies. Already, intentionally or not China is putting the squeeze on US corporates with its covid lockdown policy.

We can never be entirely sure of Chinese intensions, particularly with the enigmatic President Xi. With protests at lockdowns, western media portrays Xi’s administration as reverting almost to Maoist policies, a reversal of China’s recent march into capitalism. The treatment of Uyghurs offends us. But reform of covid policies was known to be on its way, and on Tuesday the announcement was made by China’s National Health Commission, giving new guidance to local administrations, which should ease lockdowns.

The underlying problem for China’s government is that its economy is suffering a debt hangover from decades of overinvestment in domestic construction, secured by an exceptionally high savings rate. If the economy was left to its own devices, according to classical theory a debt crisis would destroy malinvestments and reallocate capital to more productive use. But with the large commercial banks under state control the policy will be more likely to ride through the transition of capital reallocation, whatever the cost.

The effect of a credit crunch is to heighten the urgency for state directed investment into other areas, particularly integration with other Asian nations.

While we must not forget that there are significant political and cultural differences between China and Russia, American hegemony and trade policies have only served to tighten the bonds between them, so cross-border investment is an obvious priority.

The immediate economic consequences are damaging for China, with an economy which has become ex-growth. While this is a negative factor for the whole region, it could hasten pan-Asian integration to limit economic damage, and to take nations such as India, the Africans and now the entire Middle East further away from US hegemonic control. American allies in Southeast Asia will also be re-examining their foreign policies.

Looking through the immediate prospects for a global recession, we can see that the old world of stagnating economies is being separated from a new world of industrialisation. Independent developing nations are being drawn into the progressive camp, leaving a rump of failing nations living in the past.

So far, a confirmation of the end of US hegemony has been seen in the change of Saudi Arabia’s trade policy, whereby it has realigned itself to Russia and China, confirming its intention to join the BRICS organisation. With other Arab states following the Saudi lead, this confirms that the Gulf states see their future being bound up with the Russian and Chinese partnership. This is likely to be followed by nations in South-East Asia, which at the moment are sitting on the fence. But Indonesia’s recent hosting of the G20 meeting showed that the hosts appeared to be more worried about upsetting the Russians and Chinese than the US-led western alliance.

Member states of the European Union are beginning to face the same dilemma. They have gone along blindly with NATO policies without questioning them. The failure of NATO’s wars in the Middle East and Afghanistan, and the consequences of the overthrow of Libya’s Ghaddafi have all led to Europe’s refugee problems. Now, the economic sacrifice of NATO alignment is plain to see. EU leaders are muttering darkly about how the Americans are profiting from Ukraine while Europe is paying the price…

Part 1 of 2
 

marsh

On TB every waking moment
Part 2 of 2

The dollar’s hegemony is under threat as well
We know from official announcements that the Russian Chinese partnership, specifically through their membership of the Eurasian Economic Union, is planning to cobble together a new trade settlement currency. Due to currency sanctions against Russia, a sense of urgency has been imparted to the project, with other nations in Asia realising that retaining western currencies in their central bank reserves carries risk of sanctions. These risks are not merely restricted to the immobilisation of reserves in western currencies, but also restrict trade. The consequences of sanctions policy have been to force Asian governments to rethink about trade security as well.

At this stage, all we can do is to draw together some threads to determine the likely form of the new trade settlement currency Sergei Glazyev, the senior Russian official tasked with the project has proposed. An official statement dated 16 June from the committee which he chairs included the following statement:

“Sergei Glazyev informed about presenting in the near future the concept for forming the common EAEU exchange market, which, in particular, would involve the unification of exchanges’ information systems and the nomination of prices in national currencies. “The agenda includes the transition to a new stable settlement currency based on a basket of national currencies and exchange-traded products, as well as the creation of our own stable pricing system. Such principles should be applied in work not only within the EAEU but also throughout the SCO,” the EEC Minister concluded.”

The objective is for the dollar to be replaced as the settlement medium of intra-national trade. And the idea is that this new trade settlement currency will be open to be joined by other nations. If this project is successful, then the dollar will lose its status as the reserve currency for participating nations.

As described above, the project is impractical, appearing to be a political statement designed to gain early support for the project. Elsewhere, we see proposals to set up a new Moscow gold exchange, purportedly to replace access to the London bullion market now denied to Russia and its refiners. But again, we see that the moving light is the same Sergei Galzyev, this time telling us that the demand comes from Russia’s bullion industry.

If it is to work, Glazyev’s original proposal to Eurasian states cannot proceed.

The inclusion of national currencies in some sort of daily fixing does not guarantee stability, and every time another SCO member decides to join a whole rebalancing exercise would have to take place. The same considerations apply to “exchange traded products”, which from other statements we can take to refer to commodities traded between members of the scheme.

From being an inherently defensive move against US dollar hegemony, subsequent confirmation of Saudi intentions to switch payments from dollars to unspecified Asian currencies changes priorities. From convincing a coterie of Eurasian states, Glazyev’s prize is to persuade the Saudis and other gulf energy suppliers as well to accept the new trade settlement medium. Only a gold-based currency fits the bill. With their Bedouin roots in physical coin, a gold-based trade settlement currency acceptable to the Saudis would have the added advantage of dealing a significant blow against the dollar.

The more one considers the situation, one can only conclude that gold is the logical basis for such as scheme, and Glazyev’s involvement in the new Moscow gold exchange suggests he has reached a similar conclusion. If that’s the case, then it will be necessary to back a gold fixing scheme in such a way that participants can confidently retain balances in the new currency, even though it will almost certainly be digital in form.

Assuming that the scheme progresses towards fruition with gold representing commodity-based transactions generally, the requirement for retaining dollar balances will fall away. The impact on the dollar has to be our next topic.
Foreign dollar balances are simply enormous



As illustrated by the chart above, foreign ownership of financial assets including bank deposits totals nearly $30 trillion, down over $4 trillion since last December. Some of this is due to fluctuations in portfolio valuations, but clearly the foreign appetite for holding dollars is waning. If the Russia/China Asian bloc comes up with a viable trade settlement currency, both official ownership and private sector ownership of dollars will be less required, and ownership by foreigners will diminish further.

Dollars will be sold for other currencies, to purchase bullion, or to build stocks of durable commodities. The global desire to sell dollars for other major fiat currencies was knocked on the head by currency sanctions against Russia. And we can be sure that the message about holding yen, euros, or sterling is widely received in all Asian nations.

Therefore, US-led currency sanctions against Russia will probably backfire badly. With the dollar being sold for bullion and commodities, the value of dollars relative to bullion and commodities will obviously decline. It will be a trend readily understood by foreign holders, likely to drive the dollar down more rapidly than might be expected.

It may be that the process has already started. So far this year, the dollar has gained against other major currencies due to the Fed having led other central banks into higher interest rates in an attempt to contain price inflation. Other central banks are now responding belatedly with their revised interest rate policies, and consequently the rising trend in the dollar’s trade weighted index has broken down from its previous uptrend. The chart below illustrates the dollar’s move so far.



Compounding the dollar’s problems are market suspicions that the Fed will be forced into a policy pivot as evidence of a recession mounts. While softening its line slightly the Fed still denies it, presumably for fear of encouraging yet higher consumer prices. Markets are betting that it is only a matter of time before the Fed is forced to call a halt to interest rate rises and reintroduce quantitative easing. The yield on the 10-year US Treasury note has fallen from 4.4% to 3.63%, while the CPI ‘sincrease slowed to 7.7% in October.

Sanction-induced commodity and energy price rises have obscured a wider trend emerging from the end of the forty years of the financialisation of major western economies — the end of a prolonged everything bubble. Intractable government deficits are driving the debasement of currencies relative to the values of commodities. A new financial cold war between the hegemons is undermining the logic of supply chains across multiple jurisdictions. Just-in-time inventory management has become riskier. And while supply chain difficulties have lessened recently, the trade outlook has deteriorated, supply chain reform is on the cards, and commercial bank credit is long overdue its 10-year cyclical downturn.

Managing foreign dollar liquidation
Assuming that foreigners act as outright sellers on a net basis rather than merely hedging existing positions, the buyers will be either the Fed in the case of official institutions selling, or commercial banks.

When the Fed buys dollars, it reduces the liability side of its balance sheet, or redeploys repatriated dollars by buying assets. And since we are considering net selling by foreigners, those assets will be dollar-denominated assets in the domestic US economy. Whether the Fed reduces its balance sheet or buys domestic assets is a matter for economic and monetary policy.

Commercial banks will be acting principally for domestic US buyers, in which case there is no reduction in their aggregate deposit liabilities because the ownership of deposits merely changes. However, if they are not acting for domestic buyers but for themselves and deposits are being withdrawn, then they must reduce their balance sheet assets to match. They can do this by selling financial assets if they have them on their balance sheet, or by calling in loans. However, we know from US Treasury TIC figures that commercial banks have limited foreign currency loan exposure (i.e. balance sheet assets —in June, it was $687bn and with other currencies having been weak they are unlikely to have unhedged on-balance sheet foreign currency financial asset liabilities in any quantity. Therefore, the bulk of private sector involvement is off-balance sheet and therefore the effect on outstanding commercial bank credit will be limited.

It would therefore appear to be mainly a problem for the Fed, and the impact on the dollar of foreign selling will only be lessened through the expansion of the Fed’s balance sheet. The chart below gives a clue of what the relevant impacts are likely to be.



We have ascertained that commercial banks will not be buying dollars from foreigners in sufficient amounts to affect their balance sheets materially.

Instead, if foreigners decide the world is moving away from the dollar, the Fed’s balance sheet currently standing at $8.6 trillion will be exposed to a contracting foreign dollar mountain of up to $30 trillion. There is a leverage factor in this which could be substantial.

A further problem for the monetary authorities is that they increasingly expect a recession, even though it appears to be slow in arriving. A recession is a contraction in commercial bank credit, against which the Fed would expect to compensate by the combination of an expansion of its balance sheet and the government increasing its budget deficit. In other words, after fifty-one years of the dollar being totally fiat, and the dollar seeing demand on the basis that it is the only reserve currency, the ending of that period at a time when the US economy is entering a recession is the worst combination of events possible.

This is probably the most compelling reason for the US Government to seek to de-escalate tensions over Ukraine and dismantle sanctions against Russia. It would or should have been on the CIA’s William Burns’s mind when he met his opposite Russian number in Ankara a fortnight ago.
 

marsh

On TB every waking moment

The United Nations Biodiversity Conference, referred to as COP15, starts next week in Montreal, with governments from around the world coming together to agree, amongst other things, on a new set of goals and targets that will guide global action on nature through 2030.

While it sounds similar to COP27, the recent UN Climate Conference held in Sharm El-Sheikh, the two meetings focus on different but related issues. COP27 addressed action under the UN Framework Convention on Climate Change to reduce greenhouse gas emissions and to adapt to these changes. COP15 focuses on the living world through the Convention on Biological Diversity (CBD) a treaty adopted for the conservation and sustainable use of biological diversity and related issues.

While the biodiversity COP – short for Conference of the Parties – takes place every two years, this year is particularly important as a new global biodiversity framework is set to be adopted. The Post-2020 Global Biodiversity Framework will be the first global framework on biodiversity adopted since the Aichi Biodiversity Targets in 2010.

At COP10 in Nagoya, Japan, in 2010, governments set out to meet the 20 Aichi Biodiversity Targets by 2020, including that natural habitat loss would be halved and plans for sustainable consumption and production would be implemented. According to a 2020 CBD report, none of these targets have been fully met.

196 countries have ratified the Convention on Biological Diversity, and 196 countries will need to adopt the framework at the meeting in Montreal.

Why is this year’s conference so important?

Acting to address biodiversity loss has never been more urgent. The planet is experiencing a dangerous decline in nature as a result of human activity. It is experiencing its largest loss of life since the dinosaurs. One million plant and animal species are now threatened with extinction.

Humanity’s existence relies on having clean air, food and a habitable climate, all of which are regulated by the natural world. A healthy planet is also a precursor to resilient economies. More than half of global GDP – equal to $41.7 trillion – is reliant on healthy ecosystems.

Billions of people in developed and developing nations benefit daily from nature and the benefits it provides including food, energy, materials, medicine, recreation and many other vital contributions to human well-being.

Healthy ecosystems are also critical to meeting the Sustainable Development Goals and limiting global warming to 1.5°C, yet climate change is likely to become one of the biggest drivers of biodiversity loss by the end of the century.

COP15 aims to achieve an historic agreement to halt and reverse nature loss, on par with the 2015 Paris Climate Agreement. What is adopted in Montreal will essentially be a global blueprint to save the planet’s dwindling biodiversity.

What are the key issues?

The stakes could not be higher in Montreal. Many issues will be negotiated. The draft framework includes over 20 targets from proposals to reduce pesticide use, address invasive species, reform or eliminate subsidies that are harmful to the environment and increase financing for nature from both public and private sources.

The framework will need to be both ambitious and actionable if real progress is to be made and it must address the five key direct drivers of nature loss: changing use of sea and land; overexploitation of organisms; climate change; pollution; and invasive non-native species, and their underlying causes such as unsustainable consumption and production.

Fragmentation and land-use changes – driven by agriculture and urban sprawl – are driving 80 per cent of biodiversity loss in many areas, which is why it is vital this is addressed.

It is also important that solutions reached at COP15 encompass all of society, from the financial sector and business as well as governments, NGOs and civil society. The participation of indigenous peoples and local communities in decision-making processes related to nature, and recognition of their rights to land, is especially important.

Agreements will need to be reached on finance, including how much wealthy nations will support developing countries to finance biodiversity conservation, as well as on access and benefit sharing, specifically when it comes to the use of data derived from genetic resources.

Access and benefit-sharing refers to the way genetic resources may be accessed and how the benefits as a result of this use are shared between users (such as biotech companies) and providers (countries and communities rich in biodiversity). This issue is central to ensuring that all are able to benefit from nature’s resources, not just a limited number of corporations particularly in the Global North.

Given the crucial role healthy ecosystems play in every aspect of humanity, it is vital that agreement is reached in Montreal and the decline in our natural world is halted.

How can you follow COP15?



About COP15

From December 7-19 in Montreal, Canada, 196 governments will meet to strike a landmark agreement to guide global actions on biodiversity. The framework will need to lay out an ambitious plan that addresses the key drivers of nature loss and puts us on the path to halt and reverse nature loss by 2030.
 

marsh

On TB every waking moment
(segments of redacted)

Protestor SHOUTS down Prime Minister Sturgeon over gender recognition act 15:18 min

Protestor SHOUTS down Prime Minister Sturgeon (Scotland) over gender recognition act​

Redacted News Published December 1, 2022
"Scottish Prime Minister Nicola Sturgeon was shouted down at an event this week called Zero Tolerance. It is an event to stop male violence against women and many people came to tell Sturgeon that her gender bills will fail to create safe spaces for women.

A note sent to attendees said that the Prime Minister’s speech was “to create a safe and supported environment for our guests and ask you to support us in this aim by refraining from discussions of the definition of a woman, and single sex spaces, in relation to the gender recognition act.”

The Prime Minister denies having a hand in this but she was still challenged about it by attendees. Many feminists worry that Sturgeon’s gender reform bill, which has not been passed, could be used by violent men to gain access to women’s spaces including shelters and prisons. "

^^^^^
PROOF Bill Gates using vaccines for depopulation agenda | Redacted with Clayton Morris 22:17 min

PROOF Bill Gates using vaccines for depopulation agenda | Redacted with Clayton Morris​

Redacted News Published December 1, 2022
Bloodbanks around the world are being asked for non-vaccine blood transfusions because patients don't want tainted blood. One family raised their own donations from unvaccinated donors and the hospital told them to go pound sand.

^^^^
Wait! THIS is what they're doing with our money in Ukraine? | Redacted with Clayton Morris 17:02 min

Wait! THIS is what they're doing with our money in Ukraine? | Redacted with Clayton Morris​

Redacted News Published December 2, 2022
The Biden administration is readying a new massive spending package to Ukraine while at the same admitting they can't find at least 20 billion dollars we've already sent. Also reports show the corrupt government has been using U.S. tax dollars to buy real estate and other luxury items. When will it stop?

^^^^^
BREAKING! U.S. readies for full-scale invasion of Haiti | Redacted with Clayton Morris 12:05 min

BREAKING! U.S. readies for full-scale invasion of Haiti | Redacted with Clayton Morris​

Redacted News Published December 2, 2022
(No summary given. Did not watch)

^^^^
Wait! Military vaccine mandates are part of this bill? | Redacted with Clayton Morris 14:40 min

Wait! Military vaccine mandates are part of this bill? | Redacted with Clayton Morris​

Redacted News Published December 2, 2022 1,551
The House and Senate have agreed to increase the 2023 National Defense Authorization Act (NDAA) by $45 billion more than President Biden requested. The $45 billion increase was agreed on by the House and Senate Armed Service committees. This brings the military budget to $847 billion! Meanwhile the U.S. is still pushing vaccine mandates on the military. Given what we are asking from them, isn't it time to give them freedom of choice for the Covid vaccine?
 

marsh

On TB every waking moment
Ep. 2939b - [DS] Running Low On Ammunition, Wait For It, Many Are Falling Into The Trump Quicksand 46:27 min (starts at 1:38 min)

Ep. 2939b - [DS] Running Low On Ammunition, Wait For It, Many Are Falling Into The Trump Quicksand​

X22 Report Published December 2, 2022
The [DS] is running low on ammunition, they are now resurrecting the old playbooks and they are not working. Trump is exposing the board and the people see who the enemy really is. Many people are falling into the Trump quicksand. The patriots are exposing the [DS] treasonous crimes and the [DS] will try to shut it down with lawsuits, censoring pushing app stores to remove the apps, this will all fail and they will resort to a communication blackout. The storm is coming.

^^^^^
Ep. 2939a - If You Know The [CB]/[WEF] Economic Playbook, It Can Be Countered 19:09 min (starts at 1:20 min)

Ep. 2939a - If You Know The [CB]/[WEF] Economic Playbook, It Can Be Countered​

X22 Report Published December 2, 2022
The Dutch farmers are now pushing back, they are protesting the shutting down of their farms. [JB] has now made an enemy of the union workers. There is now an increase of 400% in job cuts. The economic playbook is known, countermeasures in place.
 

marsh

On TB every waking moment
Zelensky Announces Crackdown on Orthodox Church 1:19 min

Zelensky Announces Crackdown on Orthodox Church​

Red Voice Media Published December 2, 2022
"In addition, the state Service for Ethnopolitics and freedom of Conscience has been instructed to ensure the religious studies examination of the Statute of Management of the UOC for the presence of a church-canonical connection with the Moscow Patriarchate and, if necessary, apply the measures provided by the law."
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=5pxbQwWFcb4
2:49:40 min

Chinese Police Coming For Protesters in Their Homes - Episode #137​

C0HvEXjGJFx1BxzV4mOmca8AgGEIszUxrGQpyhFEDcMl4fESbcu-jqepwVYoTEMaiMJ_BZ3k=s48-c-k-c0x00ffffff-no-rj

The China Show
Streamed live 5 hours ago
The aftermath of the ongoing protests rears its ugly head exactly how we predicted. Secret police tracking down all of the protesters, and finding them at home. Not only that, the media runs with the myth that zero covid is relaxing, while people in China tell us a very different story. Laowhy86 - China's MOST Respected Army General is a JOKE - https://youtu.be/iTKhokjRVMk SerpentZA - I'm being BLAMED for the Riots and Protests in China - https://youtu.be/3pZLMpddzrA
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=-x-Fz7vQnuM
5:11 min

Banks Hacked Right Now No Access ( Get Your Money Out Of The Banks ) Truist Bank​

OhCevGwV25_EkHsl-mrc7eHLxUpYbG-HZBcMvIS82hiO6Pt_6gFePr_Jo13ZcJWKe6BEjHwBuQ=s48-c-k-c0x00ffffff-no-rj

The Economic Ninja
Dec 2, 2022
Banks Hacked Right Now No Access ( Get Your Money Out Of The Banks ). Truist Bank looks as if it may have been hacked but is telling bank customers that their services are down due to maintenance issues. Other banks are turning up the same way today. Add this to the list of bank hacks 2022.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=snSQndGHwJM
1:44 min

Vladimir Putin issues ultimatum to the West​

Q-ry-JNiIiQtu7V8C3PdBFyOI-i4_bR_v8jpnkvKSAlgrLaZa40Zu1TQyfGVCGm9-49JxlOjng=s48-c-k-c0x00ffffff-no-rj

Sky News Australia
Russian President Vladimir Putin is “open to negotiations” on Ukraine if the West meets Moscow's demands. The ultimatum comes as US President Joe Biden declares he is willing to meet with his Russian counterpart. “I’m prepared to speak with Mr Putin,” Mr Biden said. The two leaders have put specific preconditions on those meetings. Mr Biden said talks will only take place after Mr Putin starts pulling Russian troops out of Ukraine, but the Kremlin says that won’t happen until its military goals are met.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=Cm1Qb1uVRGA
11:40 min

Jiang Zemin Dies | China’s Protest Crackdown​

N71RZIX1j2-7LvWXpaGhH1gKv01MaQPzp3MLorjA0btaRsN_gGicFaWnmtZOrgT_nCh4EfHt=s48-c-k-c0x00ffffff-no-rj

China Uncensored
Dec 2, 2022
Former Chinese leader Jiang Zemin is dead. Protests continue across China, although the police state that Jiang created is working hard to suppress it. In this episode of China Uncensored, we look at how mourning Jiang Zemin could be dicey for Xi Jinping, what the media got wrong about Jiang Zemin, and how Chinese netizens are getting around censorship.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=RrTlRxS9XdM
6:13 min

Florida & DeSantis Pull Billions Out Of Blackrock For Going WOKE​

OhCevGwV25_EkHsl-mrc7eHLxUpYbG-HZBcMvIS82hiO6Pt_6gFePr_Jo13ZcJWKe6BEjHwBuQ=s48-c-k-c0x00ffffff-no-rj

The Economic Ninja
Dec 2, 2022
The Economic ninja talks about why Florida & DeSantis Pull Billions Out Of Blackrock For Going WOKE is a big deal. Both Blackrock and Black Stone are in trouble as pension and other funds attempt to pull their money out of the bank and cause a liquidity crisis.

^^^^^

Florida, DeSantis yank billions in investments from 'woke' BlackRock over ESG investing​

Jessica Guynn
USA TODAY

Florida is yanking $2 billion worth of state assets managed by BlackRock, escalating the GOP standoff with the world’s largest money manager over its ESG investment policies.

The state treasury will freeze about $1.43 billion worth of long-term securities and remove BlackRock as the manager of about $600 million worth of short-term overnight investments with the goal of giving that business to other money managers by the beginning of 2023, Florida Chief Financial Officer Jimmy Patronis said in a statement Thursday.

Republicans, who say liberals are using environmental, social and corporate governance investing strategies to advance an ideological agenda that would be voted down at the ballot box, have lashed out at "woke" corporations and money managers, pledging to roll back the $40 trillion ESG investing business.

Florida Gov. Ron DeSantis is a key figure in the Republican revolt, and BlackRock CEO Larry Fink is a frequent target.

In August, DeSantis, widely expected to challenge former President Donald Trump for the 2024 GOP presidential nomination, pushed through a resolution calling for Florida to stop considering “the ideological agenda” of the ESG movement when investing state funds.

“I need partners within the financial services industry who are as committed to the bottom line as we are – and I don’t trust BlackRock’s ability to deliver,” Patronis, who oversees the Florida Department of Financial Services that manages about $60 billion in taxpayer money, said in a statement.

“I think it’s undemocratic of major asset managers to use their power to influence societal outcomes. If Larry, or his friends on Wall Street, want to change the world – run for office. Start a non-profit. Donate to the causes you care about. Using our cash, however, to fund BlackRock’s social-engineering project isn’t something Florida ever signed up for.”

Treasurers from Louisiana and Missouri have made similar moves.

BlackRock, which oversees $8 trillion, issued a statement accusing Florida of putting politics over performance.

“As a fiduciary, everything we do is with the sole goal of driving returns for our clients. We are surprised by the Florida CFO’s decision given the strong returns BlackRock has delivered to Florida taxpayers over the last five years,” the firm said. “We are disturbed by the emerging trend of political initiatives like this that sacrifice access to high-quality investments and thereby jeopardize returns, which will ultimately hurt Florida’s citizens.”

What is ESG?​

Fink has been spending time in Washington to “correct the narrative” after criticism from the political right that it has gone too far with ESG investing and from the political left that it has not gone far enough, he said Wednesday in an interview at the New York Times DealBook Summit.

Conservatives are going after corporations that have become more vocal on social, environmental and governance issues, commonly known as ESG.

ESG investors consider a company’s performance on environmental and other issues when weighing an investment. ESG proponents say this type of investing highlights risks such as climate change exposures or workforce diversity and inclusion issues that might be otherwise overlooked.

But the GOP sees ESG as a Trojan horse for left-wing politics. In recent months, Republicans have intensified their pressure campaign to stop corporate America from taking liberal stands, with punitive measures ranging from boycotts to legislation to shareholder fights.

Now that Republicans will regain control of the House of Representatives in January, conservative lawmakers are threatening political consequences including hauling money managers to congressional hearings on ESG.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=0Y1esZgJcmk
5:48 min

AI-powered Lip Reading Glasses & New Interactive Map of the Universe | WEF | Top Stories of the Week​

AMLnZu9xjNawITaubcbG9i85j9zF5DK6fHAkDKvM8cuZI2k=s48-c-k-c0x00ffffff-no-rj

World Economic Forum
Dec 2, 2022
0:15 AI-powered lip reading glasses - They transcribe speech in real time and display it to the wearer as subtitles right in front of their eyes. The technology is called XRAI Glass. It uses off-the-shelf augmented reality glasses plugged into an AI-driven smartphone app. 2:11 France to pay for tech repairs - The government will contribute €45 towards fixing your broken laptop, €25 towards a mobile phone repair and €15 towards fixing your vacuum cleaner. 30 household items will be eligible for the grant at first. More items will be eligible next year. The scheme aims to cut down on electronic waste and promote the circular economy 3:29 New interactive map of the universe - The map represents a complete slice of the observable universe. It stretches from the Milky Way to the edge of what can be seen. The map is based on data from a project called the Sloan Digital Sky Survey. How to spend cash to save money - ‘Cash stuffing’ has gone viral on TikTok. It means budgeting with notes and coins. Not just digitally. You separate your monthly expenses into categories, such as groceries, fuel and bills, then put physical money into separate envelopes. Once the cash has gone, you have to stop spending.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=1Y1Zi2GQpjQ
6:07 min

Why The November Payroll Numbers Are A Big Deal​

OhCevGwV25_EkHsl-mrc7eHLxUpYbG-HZBcMvIS82hiO6Pt_6gFePr_Jo13ZcJWKe6BEjHwBuQ=s48-c-k-c0x00ffffff-no-rj

The Economic Ninja
Dec 2, 2022
The Economic Ninja talks about Why The November Payroll Numbers Are A Big Deal. (Ref. following 2 articles.)

^^^^

November Payrolls Preview: A Miss Will Be Good For Stocks But A Huge Miss Means Recession​

FRIDAY, DEC 02, 2022 - 03:44 AM

The jobs print on Friday is the final big event in what has been a very hectic macro week. Consensus is looking for a +200K printm down from 261K (Goldman is on the low end at +175k) with +0.3% average hourly earnings MoM, down from 0.4% prior. The unemployment rate is expected to remain unchanged at 3.7% while the Labor Force Participation rate increases modestly to 62.3% from consensus 62.2%.

In its full preview (see below and in report available to pro subs) Goldman's forecast reflects continued declines in online job postings as well as weakness in Big Data employment indicators in November. Nonetheless, layoff activity outside of tech remains muted and Goldman believes that the recent increase in jobless claims mostly reflects seasonal distortions (we disagree).

More importantly, the whisper is for a (far) softer print after this week’s ADP miss, rise in weekly continuing claims, spike in challenger job cuts, and drop in ISM’s employment sub-index. Specifically for the jobs data, Goldman trader John Flood says that we are still primarily in a “bad is good” and vice versa set up, "but I am getting the sense we are approaching the end of the line in regards to this type of mind set."

He explains why:
Caught my eye today when S&P sold off after ISM miss (49 vs 49.7 expected and now in contractionary territory). Growth/Recession concerns now being talked about more than how much higher rates can go after Powell’s speech yesterday (most investors finally have their heads around a 5%ish terminal rate that will be sticky for at least the majority of next year).
In terms of the market's reaction to the headline jobs print, this is what the Goldman trader expects:
  • >261k (aka higher than last print) S&P down at least 2%
  • 175k – 261k S&P down 1 – 2%
  • 125k – 175k S&P up 50bps - 1%
  • 0 – 125k S&P up 1 - 2% <0 S&P down 1 – 2% on R word fears
A somewhat contrarian take from Morgan Stanley's sales team which writes that "it may be difficult to get a similar (large) reaction post NFP as post CPI given recent price action, lack of new risk taking, and the magnitude the CPI surprise that drove the equity rally. Short dated options suggesting the same thing."

According to Morgan Stanley (whose forecast is for a 180K print) the implied move (1d straddle) for Friday is "only" ~1.15%, roughly half what it was into CPI when it was ~2%. The market is implying 30% extra variance for Friday (last two prints have realized 100%+), and this is combined with the fact that vols have come off meaningfully (VIX closed below 20). The market is pricing in no short-term vol premium – which is aided by flows that have been overwriting in nature (delta for sale / vol for sale).

Morgan Sanley's conclusion:

I think the sweet spot for risk is +100-125k. This allows Fed to go 50, as part of a continued step down… this is what the Feds want to do and why they have had a hard time pushing back on easing financial conditions the last few weeks.
  • +25k payroll would be bad for stocks – too fast of a step down in jobs, especially after +260k a month earlier.
  • 250k+ may make the Fed more hawkish at the next meeting, and may put 75bps back in play.
The bank also warns that in case of an NFP miss, the magnitude of a rally may be smaller than the decline on a large beat, given less incremental relaxation of the dovish narrative given 50bps is largely priced and SPX sits ~4000.
* * *
Having discussed the market reaction, here is a summary of what consensus expected tomorrow, courtesy of Newsquawk:

The rate of payroll additions is expected to cool once again, with analysts forecasting 200k nonfarm payrolls will be added in November (prev. 261k), while the unemployment rate is seen unchanged at 3.7%. Given that the Fed’s policymaking is currently centred around managing inflation, traders will be closely watching the wages metrics; the expectation is for wage growth to continue cooling, and this will likely form a key part of how traders will react to the data, with any upside in the wages measures likely to result in a hawkish market reaction, while any miss relative to expectations will likely incite a dovish reaction.

EXPECTATIONS: The US economy is expected to have added 200k nonfarm payrolls in November, further cooling from recent trend rates (three-month average 289k, six-month average 347k, 12 month average 442k). The unemployment rate is expected to be unchanged at 3.7%; analysts will be closely watching the participation rate, which has inched lower in the last two reports, currently at 62.2%. Similarly, there will also be attention on the U6 measure of underemployment, which rose one-tenth of a percentage point to 6.8% in October. Analysts note that in the November data, seasonal adjustments may be a factor weighing on jobs growth, particularly the adjustments to holiday hiring; these however may be partly offset by seasonal adjustments in the construction sector.

PROXIES: As a proxy, weekly data for the survey week that coincides with the official November jobs report showed initial jobless claims picking up slightly to 223k from 214k going into the October jobs data; continuing claims also ticked up to 1.51mln vs 1.44mln in the comparable October period. Further, although the ADP’s gauge of US national employment is difficult to use for comparison purposes, it showed a cooling rate of payroll additions, printing 127k from a previous 239k, and below the expected 200k.

WAGES: Rates of headline inflation have been easing as energy prices fall back, and wage growth has also been cooling. The pace of monthly average hourly earnings is also expected to ease, with analysts expecting growth of +0.3% M/M (prev. +0.4%), while the annual measure is seen falling a touch to 4.6% Y/Y from 4.7%. Average workweek hours are expected to be unchanged at 34.5hrs. The ADP’s measure of wage growth – again, not perfectly comparable with the BLS data, given that the ADP factors in bonuses while the BLS data does not – corroborates the slowing wages argument, with its most recent report stating that wage gains for job changers easing to 15.1% from 15.2%, while wage gains for job stayers pared to 7.6% from 7.7%.

POLICY IMPLICATIONS: Various labor market proxies suggest that the Fed's policy tightening is helping to alleviate some of the tightness in the labor market, and also seems to be having an impact on slowing wage growth. The ADP's chief economist said that "turning points can be hard to capture in the labor market, but the data suggest that Federal Reserve tightening is having an impact on job creation and pay gains," with companies "no longer in hyper-replacement mode," while "fewer people are quitting and the post-pandemic recovery is stabilizing." The question is whether the easing labor market will be enough to derail Fed tightening; analysts at Oxford economics do not think so: "Job growth likely continued to slow in November but the implications for the Fed are minor," it wrote, adding that "the moderating pace of job gains will be welcomed by the Fed but won't alter its plans to continue to raise interest rates." As this report is being published, money markets are discounting a 50bps rate hike at the FOMC’s December 14th confab, with rates expected to peak out between 5.00-5.25% in the middle of 2023. With the Fed in data-dependent mode, and inflation front and center of its policy decision making, traders have been using the playbook that any upside in price metrics (in the case of the jobs report, the wages measures) will see traders increase bets of a more hawkish Fed, while any downside in the wages numbers would likely result in a dovish reaction.

ARGUING FOR A STRONGER THAN EXPECTED REVIEW
  • Job availability. JOLTS job openings declined 353k to 10.3mn workers in October, and online measures declined further. While labor demand remains elevated, these declines nonetheless argue for a further drop in the pace of job growth. The Conference Board labor differential—the difference between the percent of respondents saying jobs are plentiful and those saying jobs are hard to get—edged up in November (+1pt to 32.8).

  • Big Data. High-frequency data on the labor market indicate a further slowdown in job growth, with both key measures available this month consistent with below-consensus payrolls. For example, private sector employment in the ADP report increased by 127k, below expectations for 200k.

  • Normalizing business births. The birth-death adjustment—the BLS assumption for net business formation—appears to have flattered the October payroll figures. As shown below, the payroll statistics assumed a 151k larger boost from business formation in October 2022 than in October 2019. Half of this evolution is ultimately revised away, implying a positive bias from the birth-death adjustment of around +75k in last month’s report. For tomorrow’s report, the whipsaw pattern in the birth-death adjustment in recent months suggests scope for a more normal—or perhaps even negative—contribution to payroll growth (mom sa).

  • Job cuts. Announced layoffs reported by Challenger, Gray & Christmas increased 138% month-over-month in November, following an 8.8% increase in October (SA by GS). Nevertheless, roughly 70% of the announced layoffs reported by Challenger, Gray & Christmas were in the tech sector, which accounts for a very small share of overall employment. Goldman continues to expect that many laid-off workers will be able to find new jobs relatively quickly, and that the required reduction in aggregate labor demand will come primarily from fewer job openings rather than lower employment.
  • Employer surveys. The employment components of business surveys generally decreased in November. The GS services employment survey tracker decreased by 0.8pt to 50.8 and the bank's manufacturing survey employment tracker decreased by 1.4pt to 51.3.
  • Covid. Rising covid cases could also weigh on tomorrow’s report if a significant number of hourly workers missed work during the survey week due to illness. Illustratively, the test positivity rate in New York City rose from 9.6% to 11.2% between the October and November payroll survey weeks.
ARGUING FOR A STRONGER-THAN-EXPECTED REPORT:
  • Momentum. At +200k, consensus already embeds a 61k deceleration in job growth relative to November (and an 89k deceleration relative to the three-month average). Month-over-month slowdowns of this magnitude are relatively infrequent, occurring in 27% of instances since 2010 (60k or larger, first print basis, excludes Census workers). Momentum is particularly strong in the healthcare industry (+75k average in both the last 3 and the last 6 months). We assume another ~75k rise in healthcare payrolls on the back of rising hospital utilization and continued labor shortages (2.1mn job vacancies at the end of September).
 

marsh

On TB every waking moment

November Payrolls Unexpectedly Smash Expectations As Hourly Earnings Jump​

FRIDAY, DEC 02, 2022 - 05:38 AM

It was supposed to be the lowest payrolls report since December 2020 and... it was, but not how the market expected. With consensus expecting a 200K print (and whisper predicting much lower amid the mass tech layoffs), virtually nobody - not even Goldman - expected anything resembling a beat. And while we did in fact get the weakest print since Dec 2020 (and tied with March 2021), the report was a completely unexpected beat to expectations, coming in at +263K, this was a huge beat to expectations of 200K (the 7th consecutive beat) and just barely a drop compared to the upward revised 284K last month.



The change in total nonfarm payroll employment for September was revised down by 46,000, from +315,000 to +269,000, and the change for October was revised up by 23,000, from +261,000 to +284,000. With these revisions, employment gains in September and October combined were 23,000 lower than previously reported

Monthly job growth has averaged 392,000 thus far in 2022, compared with 562,000 per month in 2021. In November, the biggest job gains occurred in leisure and hospitality (bartenders and waiters), health care, and government. Employment declined in retail trade and in transportation and warehousing.

As noted, this was the 7th consecutive payrolls beat of expectations in a row!



The unemployment rate was unchanged at 3.7% in November, in line with expectations, and has been in a narrow range of 3.5% to 3.7% since March. The number of unemployed persons was essentially unchanged at 6.0 million in November. Among the major worker groups, the unemployment rates for adult men (3.4 percent), adult women (3.3 percent), teenagers (11.3 percent), Whites (3.2 percent), Blacks (5.7 percent), Asians (2.7 percent), and Hispanics (3.9 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)



Both the labor force participation rate, at 62.1 percent, and the employment-population ratio, at 59.9 percent, were little changed in November and have shown little net change since early this year.



But what was the most troubling update is that wages came in red hot again, with average hourly earnings for all employees on private nonfarm payrolls rising by 18 cents, or 0.6% to $32.82, double the expected 0.3% growth . Over the past 12 months, average hourly earnings have increased by 5.1% which was also above the 4.6% expected.



Here is Cornerstone Financial's Cliff Hodge on the earnings data: “While the headline payrolls number was strong, the wage data is going to be eye-popping for the Fed. The 0.6% month-over-month wage growth number matched the highest level all year. Higher wages feed into higher inflation, which will no doubt keep pressure on the Fed and should increase expectations for the terminal rate. We got no help from the participation rate, which continues to move in the wrong direction and will keep competition for labor high until the economy inevitably rolls over sometime next year.”

In November, the average workweek for all employees on private nonfarm payrolls declined by 0.1 hour to 34.4 hours. In manufacturing, the average workweek for all employees decreased by 0.2 hour to 40.2 hours, and overtime declined by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls decreased by 0.1 hour to 33.9 hours.

Some more details:
  • Among the unemployed, the number of permanent job losers rose by 127,000 to 1.4 million in November. The number of persons on temporary layoff changed little at 803,000.
  • The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.2 million in November. The long-term unemployed accounted for 20.6 percent of all unemployed persons.
  • The number of persons employed part time for economic reasons was about unchanged at 3.7 million in November. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.
  • The number of persons not in the labor force who currently want a job was little changed at 5.6 million in November and remains above its February 2020 level of 5.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.
  • Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force held at 1.5 million in November. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was 405,000 in November, little changed from the previous month.
Drilling down into the BLS's establishment survey fabulation we get the following ridiculous modeled "data":
  • Leisure and hospitality added 88,000 jobs in November, including a gain of 62,000 in food services and drinking places. Leisure and hospitality has added an average of 82,000 jobs per month thus far this year, less than half the average gain of 196,000 jobs per month in 2021.
  • In November, employment in health care rose by 45,000, with gains in ambulatory health care services (+23,000), hospitals (+11,000), and nursing and residential care facilities (+10,000).
  • Government added 42,000 jobs in November, mostly in local government (+32,000). Government employment has increased by an average of 25,000 per month thus far this year, compared with 38,000 per month in 2021. Since February 2020, government employment is down by 461,000, or 2.0 percent.
  • In November, employment in the other services industry rose by 24,000, as personal and laundry services added 11,000 jobs over the month. Other services employment has increased by an average of 15,000 per month thus far this year, compared with 24,000 per month in 2021. Employment in other services is below its February 2020 level by 186,000, or 3.1 percent.
  • Employment in social assistance increased by 23,000 in November and has returned to its February 2020 level. Within social assistance, employment in individual and family services increased by 17,000 in November. Job growth in social assistance has averaged 18,000 per month thus far in 2022, compared with an average of 13,000 per month in 2021.
  • Construction employment continued to trend up in November (+20,000), with nonresidential building adding 8,000 jobs. Construction has added an average of 19,000 jobs per month thus far this year, little different from the 2021 average of 16,000 per month.
  • Employment in information rose by 19,000 in November. Employment in the industry has increased by an average of 14,000 per month thus far this year, in line with the average of 16,000 per month in 2021.
  • Manufacturing employment continued to trend up in November (+14,000). Job growth has averaged 34,000 per month thus far this year, little different from the 2021 average of 30,000 per month.
  • In November, employment in financial activities continued its upward trend (+14,000). Job gains in real estate and rental and leasing (+13,000) and in securities, commodity contracts, and investments (+6,000) were partially offset by a decline in credit intermediation and related activities (-9,000). Employment in financial activities has increased by an average of 12,000 per month thus far this year, the same as in 2021.
  • Employment in retail trade declined by 30,000 in November. Job losses in general merchandise stores (-32,000), electronics and appliance stores (-4,000), and furniture and home furnishings stores (-3,000) were partially offset by a job gain in motor vehicle and parts dealers (+10,000). Retail trade employment has fallen by 62,000 since August.
  • Employment in transportation and warehousing declined by 15,000 in November and has decreased by 38,000 since July. In November, job losses in warehousing and storage (-13,000) and in couriers and messengers (-12,000) were partially offset by a job gain in air transportation (+4,000).
  • Employment in professional and business services changed little in November (+6,000). Within the industry, professional and technical services added 28,000 jobs, while business support services lost 11,000 jobs. Monthly job growth in professional and business services has averaged 58,000 thus far in 2022, down from 94,000 per month in 2021.
And a visual heatmap of jobs courtesy of Bloomberg:



Needless to say this report, clearly politically motivated in light of everything else taking place in the economy, has put the Fed in a corner: while most other economic indicators scream recession, Biden's last economic silver lining - the labor market - continues to come in far hotter than expected, and as such it forces Powell to keep tightening until such time as the bottom falls out of the economy and the US goes straight from expansion to depression, skipping recession completely.

Matt Maley, chief market strategist for Miller Tabak agrees: “The number one issue for the Fed has been wage inflation. Today’s much higher than expected data on average hourly earnings shows that it is still a big problem. This will prolong the Fed’s current tightening policy.”

As BBG economist Anna Wong notes, “The robust November jobs report reinforces a point Fed Chair Jerome Powell made in his Nov. 30 speech: Signs that wage growth is moderating are only ‘tentative.’ The resurgence of average hourly earnings growth shows labor shortages are still pressuring inflation, pushing back against the idea -- supported by a few Fed officials, as indicated in the November FOMC minutes -- that wage growth is cooling fast.

Given the slow adjustment in the labor market, Fed officials will likely have to raise their terminal-rate forecast from what they wrote down in the September dot plot.”

And in keeping with the market reaction matrix we shared earlier, the kneejerk reaction for all risk assets - stocks, TSYs, gold, and crypto - is uniformly lower.
 

marsh

On TB every waking moment
View: https://www.youtube.com/watch?v=0HlYkz2-oq8
2:35 min

Biodiversity as an Asset Class Ep 5: Pricing Biodiversity​

AMLnZu9xjNawITaubcbG9i85j9zF5DK6fHAkDKvM8cuZI2k=s48-c-k-c0x00ffffff-no-rj

World Economic Forum

Dec 2, 2022
With recent failures of the market economy brought into focus by the COVID-19 pandemic, how can such a system possibly cope with the unfolding crisis in biodiversity and nature? Nobel Prize laureate, Professor Joseph E. Stiglitz, from the School of International and Public Affairs (SIPA) at Columbia University, argues that nothing less than complete economic transformation can protect natural ecosystems and life on Earth as we know it. Biodiversity as an Asset Class is a five episode series that profiles leading global thinkers on how we must reconstruct our economic system in order to protect nature and the future of life on Earth. Each episode explores topics that include removing barriers to action, the valuation of natural capital, a nature-positive business approach, and the role of philanthropic capital.

^^^^^
(Comment: Do a search for Stiglitz you can put as poster marsh...and there we have it

2019: Stiglitz, Rob Johnson, The Pope and George Soros join in effort to devose new economic system not basd on money

Pope Francis Joins Joe Stiglitz and Rob Johnson in Creating New Economic Thinking

https://www.cigionline.org/

Topics they are concentrating on:

Models for Platform Governance https://www.cigionline.org/platforms
An essay series on the emerging economic and social power of global platforms
(There are several papers on this including big data and governance platforms)

DIVERSITY & INCLUSION REFUGEES https://www.cigionline.org/sites/default/files/documents/WRC Research Paper no.18_0.pdf
Meaningfully Engaging Youth in the Governance of the Global Refugee System

Sustainable Development https://www.cigionline.org/subject/sustainable-development

Human Rights Indigenous peoples https://www.cigionline.org/publicat...raiding-international-domestic-and-indigenous

Climate Change https://www.cigionline.org/subject/climate-change

Gender https://www.cigionline.org/subject/gender

Central Banking, Digital Currency https://www.cigionline.org/subject/central-banking

^^
https://www.ineteconomics.org/about...-commission-on-global-economic-transformation

Nobel Laureates to Co-Chair Independent Commission on Global Economy
OCT 22, 2017

Joseph Stiglitz, Michael Spence and a global team of leading thinkers are calling for new thinking & new rules for the world economy

^^^^
2020 Unreported Soros Event Aims to Remake Entire Global Economy

Unreported Soros Event Aims to Remake Entire Global Economy
Two years ago, George Soros said he wanted to reorganize the entire global economic system. In two short weeks, he is going to start - and no one seems to have noticed.

On April 8, a group he's funded with $50 million is holding a major economic conference and Soros's goal for such an event is to "establish new international rules" and "reform the currency system." It's all according to a plan laid out in a Nov. 4, 2009, Soros op-ed calling for "a grand bargain that rearranges the entire financial order."
 
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marsh

On TB every waking moment

The Dark Agenda Behind the WEF's Green Energy Push​

BY SKWEALTHACADEMY
FRIDAY, DEC 02, 2022 - 10:50

Authored by J.Kim via the skwealthacademy substack newsletter

Recently, the COP27 meeting concluded in Egypt with the World Economic Forum laying out 40 metrics the world must accomplish by 2030, including the below ones that I thought were the most revealing of the ones they outlined:

(1) Shut down 925 average-size coal plants a year;
(2) Increase public transportation infrastructure 6X’s faster than the current rate to decrease individual driving;
(3) Lower CO2 from cement production 10X’s faster than the current rate;
(4) Reduce the rate of deforestation 2.5X’s faster;
(5) Shift to plant-based diets 5X’s faster (call for a drastic reduction in beef consumption per capita in developed nations); and
(6) Phase out oil subsidies 5X’s faster

The above policy directives are interesting for Directives (1) and (6) obviously feed into WEF’s agenda of

greatly increased reliance on inefficient expensive green energy, a policy agenda that will cause energy prices around the world to soar into unaffordable price levels for many people and create a decision in many households between feeding one’s family or heating/cooling one’s home during winter/summer seasons. Directive (2) is about reducing our rights to privacy and to future car ownership, an iteration of Klaus Shwab’s declaration that “you will own nothing and be happy”. At first glance, Directive (3) seems to be a call for massively decreasing the levels of building construction in large cities around the world and stymying any commercial real estate growth, but new methodologies of fabricating cement that rely on electrolyzers and no CO2 production, if perfected, could accomplish Directive (3) without calling for a massive decrease in the rate of all commercial real estate growth.

Directive (4) is somewhat of a shock to me, because as you know, in this article, I called out the extreme hypocrisy of the WEF and other man-made climate change advocates in their dismissal of the massive contribution of rainforest destruction to increased levels of CO2 by these 13 companies: Colgate-Palmolive, L’Oreal, Hershey, Kelloggs, Kraft, Mars, Mondelez, General Mills, Heinz, Nestlé, PepsiCo, Reckitt Benckiser and Unilever. All 13 of these companies heavily partake in the destruction of rainforests because they source resources required in the manufacturing of their products that come from the clearing of massive areas of rainforest.

However, the WEF still made this call without offending the corporations with whom they are in bed, by specifically avoiding naming the aforementioned companies. Finally, regarding Directive (5), while studies have shown that those that consume plant-based diets typically have considerably longer lifespans than those that primarily consume meat-based diets, I don’t believe that policy makers should dictate to us what we can and cannot eat, especially since we know that all attendees of the WEF that make such policies will never cease going to expensive steakhouses. This should remain in the realm of personal choice.

Most importantly, all of the above is only relevant if one believes that global warming is a direct consequence of human activity, despite the lack of robust scientific proof, and that it is not due to credible alternative views that attribute warming to changes in the precession of the earth’s tilt along its axis and increased sunspot activity. I tend to believe the latter explanation as there is no robust scientific evidence that proves the former, while there is historical evidence of the latter.

Finally, the most revealing of all the policy calls above is the prominent absence of a specific call, the call for the growth of the greenest energy source of all – nuclear energy.

If global warming were actually due to human activity-based CO2 emissions, which I do not believe it to be, then the most efficient, best solution would be to call for an explosive growth in nuclear energy as our major source of energy around the world. I’ve already discussed here in this article why many of the strongest objections to nuclear energy are based upon outdated fears, especially given the advancement of technology in nuclear reactors today that have significantly reduced safety concerns. Thus, if you want to learn more about this topic, just refer to the aforementioned link.

In the past, at COP26, both man-made global warming advocates and WEF policy makers have discussed the need to rely on nuclear energy more prominently. But it is no coincidence that specifically this year, during massive economic sanctions imposed by NATO nations against Russia, that nations like France, Germany, Austria, Italy and the Netherlands have all returned, or plan on returning to a greater reliance on dirty coal energy this year and in the future, with no significant announcements about future plans to expand reliance on nuclear energy.

And Poland, instead of announcing a push to expand their nuclear energy sources, are pushing ahead to expand very expensive, extremely inefficient green energies like solar and wind, having expanded their nation’s relaince on these energies from 6.9% in 2010 to 16.9% as of 2021. And this war, not pure energy strategy, has led to energy costs in Poland soaring out of control by 20% to 40% thie year, and in response, the Polish government has provided subsidies to utility companies if they do not hike prices by more than 40% in 2022! In other words, the leaders of all these nations have demonstrated a propensity to cut off their nose to spite their face instead of actually pursuing energy policies that would best enhance their citizens’ quality of living.

And though the political leaders of these nations will convince the naive segments of their populations to blame Russia for the soaring energy costs of their nation, the fact of the matter has been that due to the NATO war against Russia, they would rather give their citizens emphysema, lung cancer and soaring energy bills by choosing coal and inefficient, expensive renewable energy sources for politically driven reasons over clean, cheap green energy.
Say what you will against the Chinese government for killing the immune systems of their citizens with deplorable extended Covid lockdowns for three years now (and rightly so) , but at least the citizens that are still alive after the CCP finally disband their ignorant Zero Covid policies won’t require the use of portable oxygen tanks in their future due to its very aggressive push to expand nuclear energy supply.

Furthermore, a push into extremely inefficient and expensive green energy sources reveals the sinister nature of policy makers that seek to deliberately send our energy costs sky-high. If we look at the below chart, it is clear to see that solar energy has less than 27% the capacity of nuclear and wind energy possesses less than 40% of the capacity of nuclear. What is capacity? Capacity is the operational uptime of the energy source, so if nuclear can run at more than 3Xs the capacity of solar and 2.6X the capacity of wind, then obviously these other two “green” solutions are highly inefficient when compared to nuclear. Thus a push for nations to increase “green” energy that excludes nuclear is in reality, a push towards massive inefficiency in a nation’s energy sources.


To view a larger image, click the above graphic

In addition, when we compare costs, if we observe the average price per KilowattHour for nuclear energy for the Asian nuclear reactors that represent more advanced generational nuclear reactors that those currently deployed in Western nations versus the average price of solar and wind energy, the massive discrepancies in price to the consumer is readily apparent. In this comparison, I have chosen to exclude the higher energy costs of Western nuclear reactors, because for example, the very old age of many nuclear reactors in France has recently necessitated shutdowns for safety concerns and retrofitting measures.


To view a larger image, click the above graphic

Thus, sticking to the more efficient newer generation nuclear reactors for the basis of my price comparison, solar-energy is 5.5Xs more costly to the consumer than nuclear energy while wind produced energy is a whopping 11.8Xs more expensive. Thus, it seems that the WEF’s mission of their focus on alternative, inefficient green technologies moving forward while phasing out dependence on oil and coal to meet humanity’s ever increasing energy demands is simply to drive the costs of energy sky-high for humanity.

Furthermore, my aforementioned comparison does not even incorporate the much lower energy costs that will be produced by the next generation of nuclear reactors, LMSR (Liquid Molten Salt Reactors), technology that is providing not only to be multiple times more efficient than conventional LWRs (Light Water Reactors) and HWRs (Heavy Water Reactors), but multiple times safer as well.

The very fact that no attendees of the COP27 seriously tabled next generation nuclear reactors and the need to construct more of them as the solution to their presented CO2 global warming problem exposes the fact that not a single one among them truly believes that human produced CO2 is the real basis behind global warming.

If they did, why would they choose to completely avoid discussing the best, most cost-efficient, and most reliant solution to this “problem”?​

Their refusal to discuss the best solution that is also “green” and that would greatly make energy more affordable instead of unaffordable for the entire world reveals that the man-made CO2 producing global warming narrative is a complete scam.

But more importantly it reveals their completely sinister plot to deliberately push energy costs for everyone worldwide much higher in order to degrade our quality of life, which coincidentally perfectly fits with their current narrative that the serfs should get used to eating insects in the future due to less expendable income. Even though very few people seem to care about this topic, I am baffled by people’s apathy about discovering the truth of this topic, as our apathy will definitely lead to a lower quality of life for all of us. It is time for us to take a stand, not in unity with the NATO agenda in Ukraine to destroy Russia, but against the WEF agenda to send our energy costs skyrocketing into unaffordable levels.

The only reason this agenda is being pushed very aggressively right now at the exclusion of nuclear energy is because 6 of the 8 top producers of uranium, the fuel for nuclear energy include the biggest economic threats to the Western MIB (Military Industrial Banking) complex at this time, Russia and China, or are generally considered allies of Russia and China: Kazakhstan, Namibia, Uzbekistan, and Niger. Though Canada and Australia are also among the top 8 uranium producers, the other 6 nations produce the lion’s share of all uranium at 78% production of all global uranium.

Conclusion​

Thus, it is my conclusion that nuclear energy, the best, cheapest, most efficient form of energy to solve the world’s energy demand problems at the current time, is being entirely excluded from discussion due to the War Hawks of the MIB complex that would rather ensure that energy prices skyrocket and lead to Mad Max apocalyptic scenarios among the poor than to aggressively push the best solution for all of humanity. And for all the Ukrainians that foolishly believe NATO has your best interests of heart, the fact that nuclear energy would be the best, most efficient solution to your energy woes but is being completely ignored by NATO because it does not serve their agenda of reshaping the future of the world economy should raise some serious red flags, as your nation heads down a path that will further the goals of the Western MIB complex but seal the economic demise of your nation.

I realize that many people still remain anti-nuclear energy because of the environmental disaster that occurred in Fukushima in March 2011 and because of outdated beliefs about the dangers of nuclear energy formulated from the “No Nukes” movements of the 70s. However, opposition due to the former mostly originates from no understanding of the conditions that gave rise to the Fukushima disaster, which happened not because of flaws in the design of modern generation nuclear reactors, as is widely believed, but due to construction of the Fukushima reactor not being up to standard due to massive corruption and bribery in the Japanese government. And opposition due to the latter is simply due to ignorance of the functionality of new nuclear reactors that have increased safety multiple times since the 1970s, including even next generation reactors like LMSRs that make nuclear meltdowns nearly impossible.

It is time for all of us to not only educate ourselves about these matters but also to educate all others within our community about the facts as awareness is the first step in preventing WEF policy initiatives, happily carried out by our politicians, that will undoubtedly guarantee all of us a worse quality of life in the future. The clock has already begun to tick on energy matters and there is no time to waste.
 

marsh

On TB every waking moment

Elon Musk Releases THE TWITTER FILES: How Twitter Collaborated With "The Biden Team" To Cover Up The Hunter Laptop Story​

FRIDAY, DEC 02, 2022 - 04:05 PM

In a greatly anticipated Friday night drop of what has was expected to be a cache of information involving the censoring of Hunter Biden's notebook story days ahead of the 2020 presidential election, moments ago Elon Musk - who worked in collaboration with the notoriously independent gonzo journalist Matt Taibbi of "Vampire Squid" fame - has published the "Twitter Files."

Shortly before their release, Matt Taibbi sent the following email to his substack subscribers:

Dear TK Readers:
Very shortly, I’m going to begin posting a long thread of information on Twitter, at my account, @mtaibbi. This material is likely to get a lot of attention. I will absolutely understand if subscribers are angry that it is not appearing here on Substack first. I’d be angry, too.

The last 96 hours have been among the most chaotic of my life, involving multiple trips back and forth across the country, with a debate in Canada in between. There’s a long story I hope to be able to tell soon, but can’t, not quite yet anyway. What I can say is that in exchange for the opportunity to cover a unique and explosive story, I had to agree to certain conditions.

Those of you who’ve been here for years know how seriously I take my obligation to this site’s subscribers. On this one occasion, I’m going to have to simply ask you to trust me. As it happens, there may be a few more big surprises coming, and those will be here on Substack. And there will be room here to to di1670046283973.pngscuss this, too, in time. In any case, thanks for your support and your patience, and please hold me to a promise to make all this up to you, and then some.

Moments later Elon confirmed that he did, in fact, work with Taibbi:

1670046283812.png

And this is what Taibbi has been tweeting in the past few minutes (link here):

1. Thread: THE TWITTER FILES
2. What you’re about to read is the first installment in a series, based upon thousands of internal documents obtained by sources at Twitter.
3. The “Twitter Files” tell an incredible story from inside one of the world’s largest and most influential social media platforms. It is a Frankensteinian tale of a human-built mechanism grown out the control of its designer.
4. Twitter in its conception was a brilliant tool for enabling instant mass communication, making a true real-time global conversation possible for the first time.
5. In an early conception, Twitter more than lived up to its mission statement, giving people “the power to create and share ideas and information instantly, without barriers.”
6. As time progressed, however, the company was slowly forced to add those barriers. Some of the first tools for controlling speech were designed to combat the likes of spam and financial fraudsters.
7. Slowly, over time, Twitter staff and executives began to find more and more uses for these tools. Outsiders began petitioning the company to manipulate speech as well: first a little, then more often, then constantly.
8. By 2020, requests from connected actors to delete tweets were routine. One executive would write to another: “More to review from the Biden team.” The reply would come back: “Handled.”

9. Celebrities and unknowns alike could be removed or reviewed at the behest of a political party:

10.Both parties had access to these tools. For instance, in 2020, requests from both the Trump White House and the Biden campaign were received and honored. However:
11. This system wasn't balanced. It was based on contacts. Because Twitter was and is overwhelmingly staffed by people of one political orientation, there were more channels, more ways to complain, open to the left (well, Democrats) than the right.

12. The resulting slant in content moderation decisions is visible in the documents you’re about to read. However, it’s also the assessment of multiple current and former high-level executives.
... Okay, there was more throat-clearing about the process, but screw it, let's jump forward
16. The Twitter Files, Part One: How and Why Twitter Blocked the Hunter Biden Laptop Story
17. On October 14, 2020, the New York Post published BIDEN SECRET EMAILS, an expose based on the contents of Hunter Biden’s abandoned laptop:

18. Twitter took extraordinary steps to suppress the story, removing links and posting warnings that it may be “unsafe.” They even blocked its transmission via direct message, a tool hitherto reserved for extreme cases, e.g. child pornography.
19. White House spokeswoman Kaleigh McEnany was locked out of her account for tweeting about the story, prompting a furious letter from Trump campaign staffer Mike Hahn, who seethed: “At least pretend to care for the next 20 days.”

20.This led public policy executive Caroline Strom to send out a polite WTF query. Several employees noted that there was tension between the comms/policy teams, who had little/less control over moderation, and the safety/trust teams:

21. Strom’s note returned the answer that the laptop story had been removed for violation of the company’s “hacked materials” policy: Distribution of hacked material policy

22. Although several sources recalled hearing about a “general” warning from federal law enforcement that summer about possible foreign hacks, there’s no evidence - that I've seen - of any government involvement in the laptop story. In fact, that might have been the problem...
23. The decision was made at the highest levels of the company, but without the knowledge of CEO Jack Dorsey, with former head of legal, policy and trust Vijaya Gadde playing a key role.
24. “They just freelanced it,” is how one former employee characterized the decision. “Hacking was the excuse, but within a few hours, pretty much everyone realized that wasn’t going to hold. But no one had the guts to reverse it.”
25.You can see the confusion in the following lengthy exchange, which ends up including Gadde and former Trust and safety chief Yoel Roth. Comms official Trenton Kennedy writes, “I'm struggling to understand the policy basis for marking this as unsafe”:

26. By this point “everyone knew this was ****ed,” said one former employee, but the response was essentially to err on the side of… continuing to err.

27. Former VP of Global Comms Brandon Borrman asks, “Can we truthfully claim that this is part of the policy?”

28. To which former Deputy General Counsel Jim Baker again seems to advise staying the non-course, because “caution is warranted”:

29. A fundamental problem with tech companies and content moderation: many people in charge of speech know/care little about speech, and have to be told the basics by outsiders. To wit:
30. In one humorous exchange on day 1, Democratic congressman Ro Khanna reaches out to Gadde to gently suggest she hop on the phone to talk about the “backlash re speech.” Khanna was the only Democratic official I could find in the files who expressed concern.

31. Gadde replies quickly, immediately diving into the weeds of Twitter policy, unaware Khanna is more worried about the Bill of Rights:

32.Khanna tries to reroute the conversation to the First Amendment, mention of which is generally hard to find in the files:

33.Within a day, head of Public Policy Lauren Culbertson receives a ghastly letter/report from Carl Szabo of the research firm NetChoice, which had already polled 12 members of congress – 9 Rs and 3 Democrats, from “the House Judiciary Committee to Rep. Judy Chu’s office.”

34.NetChoice lets Twitter know a “blood bath” awaits in upcoming Hill hearings, with members saying it's a "tipping point," complaining tech has “grown so big that they can’t even regulate themselves, so government may need to intervene.”

35.Szabo reports to Twitter that some Hill figures are characterizing the laptop story as “tech’s Access Hollywood moment”:

36.Twitter files continued: "THE FIRST AMENDMENT ISN’T ABSOLUTE”
Szabo’s letter contains chilling passages relaying Democratic lawmakers’ attitudes. They want “more” moderation, and as for the Bill of Rights, it's "not absolute"

37. An amazing subplot of the Twitter/Hunter Biden laptop affair was how much was done without the knowledge of CEO Jack Dorsey, and how long it took for the situation to get "un****ed" (as one ex-employee put it) even after Dorsey jumped in.
38. While reviewing Gadde's emails, I saw a familiar name - my own. Dorsey sent her a copy of my Substack article blasting the incident

39. There are multiple instances in the files of Dorsey intervening to question suspensions and other moderation actions, for accounts across the political spectrum
40. The problem with the "hacked materials" ruling, several sources said, was that this normally required an official/law enforcement finding of a hack. But such a finding never appears throughout what one executive describes as a "whirlwind" 24-hour, company-wide mess.

41. It's been a whirlwind 96 hours for me, too. There is much more to come, including answers to questions about issues like shadow-banning, boosting, follower counts, the fate of various individual accounts, and more. These issues are not limited to the political right.
42. Good night, everyone. Thanks to all those who picked up the phone in the last few days.

* * *
The release was telegraphed one week ago, when Musk acknowledged that revealing Twitter's internal discussions surrounding the censorship of the New York Post's Hunter Biden laptop story right before the 2020 US election is "necessary to restore public trust."

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Recall that the Post had its Twitter account locked in October 2020 for reporting on the now-confirmed-to-be-real "laptop from hell," which contained still-unprosecuted evidence of foreign influence peddling through then-Vice President Joe Biden - including a 2015 meeting with an executive of Ukrainian gas giant Burisma.

Users who tried to share the link to the article were greeted with a message saying, “We can’t complete this request because this link has been identified by Twitter or our partners as being potentially harmful.”

Then, days after Musk's tweet, Twitter's former head of Trust and Safety, Yoel Roth, admitted it was a 'mistake' to censor the Hunter Biden laptop story.

In his first public appearance since becoming an ex-employee, Roth suggested that the Hunter Biden laptop story was simply 'too difficult' for Twitter to verify. Alternatively, the company could have perhaps simply trusted the Post, one of America's oldest publications that doesn't have a reputation for fabricating bombshell stories - like Twitter does with countless anonymous bombshells from other major publications.

We didn’t know what to believe. We didn’t know what was true. There was smoke,” Roth said during an interview at the Knight Foundation conference, as noted by the Epoch Times. “And ultimately for me, it didn’t reach a place where I was comfortable removing this content from Twitter.

“It set off every single one of my finely tuned APT28 ‘hack and leak campaign’ alarm bells,” he said, referring to a notorious team of cyberspies affiliated with Russian military intelligence. “Everything about it looked like a hack and leak.”

When asked whether if it was a mistake to censor the story, Roth replied, “In my opinion, yes.”

Would Roth have suppressed the story if it was a Don Jr. laptop full of incriminating evidence?

* * *
Finally, it will be very interesting to see which "independent", "impartial" and "objective" members of the Mainstream Media cover the Twitter Files, which unlike all that Russia collusion bullshit, was a real and actionable attempt to interfere with US democracy by covering up one of the most explosive political stories of a generation, not to mention an event that would have swayed the 2020 presidential election.
 
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marsh

On TB every waking moment

Why China Sucks: It's A Beta-Test For The New World Order

FRIDAY, DEC 02, 2022 - 08:55 PM
Authored by Brandon Smith via Alt-Market.us,

For over a decade there has been an open globalist obsession with the Chinese governmental model – A love affair, if you will. Many top proponents of global centralization including Henry Kissinger and George Soros have praised China in the past and hinted that the communist country is burgeoning into a major player within the New World Order. Soros expressed this exact sentiment way back in 2009, around the time that China began courting the IMF and issuing trillions in Yuan based treasury debt in order to join their global currency initiative.

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Several years later, China was inducted into the IMF’s Special Drawing Rights basket. The CCP now avidly supports the creation of a new global currency system with the IMF in control.

This is a reality I have been writing about for many years: China does NOT stand in opposition to global centralization under the control of western oligarchs. All they want is a prominent seat at the table when the “Great Reset” kicks off and total centralization begins. But the above information only suggests an economic relationship between China and the globalists. Does the alliance go even further than that?

Recently, Klaus Schwab of the World Economic Forum gave an interview to the Chinese government controlled CGTN at the APEC Summit. In that interview, Schwab praises China as a role model for many other nations. This might shock some people considering China’s economy is faltering, with their global exports plunging in 2022 and their housing market in shambles. This decline is in large part due to global stagflation, but also due to their insane “zero covid” policy which has kept the nation under pandemic lockdown for years.

View: https://youtu.be/j6N8PJVdALM
4:23 min

Remember all those covid cultists who were cheering for China last year? Remember when they claimed that China was a perfect example on why lockdowns are necessary and proof that they work? Yeah, those people were morons.

China’s economy is now in freefall with their manufacturing base under extreme stress from the mandates. Furthermore, it would appear that the Chinese populace is finally fed up with the draconian conditions and are rising up in revolt.

View: https://youtu.be/QfKGmeslvoI
1:49 min

In the video below, protests erupt at Foxconn’s flagship iPhone plant in China after workers marched out of the factory. They had been held there in quarantine against their will with poor working conditions and little food.

View: https://youtu.be/kHYDBQO04ZI
1:43 min

The Chinese government sent hazmat clad troops to put down the rebellion while stomping protesters into the ground. Take note and remember this video when you hear about Apple’s hostility to Elon Musk’s free speech policies on Twitter – Apple loves authoritarianism, as do all globalist run corporations.

China continues to terrorize the citizenry with secret police visits to vocal dissenters and fleets of drones hovering above city streets monitoring foot traffic and blaring propaganda messages. Some drones even spray unknown chemicals across entire city blocks. In the meantime, China has fully implemented digital vaccine passports systems tied to public venues and retail stores. You cannot function in a major Chinese city without an up-to-date vaccine passport or a negative covid test taken every couple of weeks.

All of these events and conditions are often treated as disconnected or coincidentally associated. No one is asking the right questions. The big question being WHY? Why is the Chinese government sabotaging its own economy with lockdowns and oppressing the population to the point of open revolt (a rarity among the normally subservient Chinese people). Why keep the lockdowns going when it is clear to the rest of the world that the pandemic is over and that the lockdowns and masks never worked to begin with?

I would ask CCP officials a simple question that many of us in America also asked our own government a over a year ago: If the vaccines work, why enforce mandates and lockdowns? If it’s because the vaccines don’t work, then why try to force the population to take the jab? Beyond that, if the masks and lockdowns work, then why is China facing yet another supposed covid infection wave?

Obviously the CCP does not care about the well being of the average Chinese citizen. There is no logic to anything they are doing, just as there was no logic to anything Biden, Fauci and the CDC were doing in the US. The difference is, Americans were able to force the globalists in the US to abandon their mandate agenda, likely because we are heavily armed and they realized too many of us were non-compliant. In China, there is no civilian militia equivalent.

The country was a dystopia before, now it is something different – It is an experiment in technocratic tyranny that is being taken to the extreme. China is willing to starve, arrest, beat and even kill people who they claim they are trying to protect from the virus.

It is no mistake that nearly every policy China is implementing is a direct copy of policies suggested by the WEF and institutions like the Imperial College of London back in 2020 at the start of the outbreak. The globalists argued that “we are not going back to normal” and that the public would have to sacrifice many of our freedoms in order to stop the pandemic. In reality, none of their policies were effective in stopping the spread, but they were very effective at suppressing the populace. And in the case of China, nothing did ever go back to normal.

The unspoken rationale, in my view, connects directly back to China’s long term relationship to the globalists and their desire to be a part of the New World Order, also referred to as the “multipolar world order”, the 4th Industrial Revolution, the Great Reset and a dozen other names. If you want to know the real globalist vision for the future, take a look at China today and then multiply the pain and suffering another hundred fold. China is a beta test.

Perhaps it’s a test to see what level of tyranny people are willing to endure. Maybe a test of the functionality of different surveillance systems and control mechanisms. Maybe a practice run for the inevitable riots and rebellion that would occur in numerous countries and the best way to deal with them. Globalists like Klaus Schwab are not only interest in China as an economic role model, he sees China as a societal role model for much of the west, with some tweaks here and there.

The problem for the establishment is that if there are visible examples of freedom despite covid, then other nations will start to question the necessity of their own lockdowns. Even the Chinese people are starting to fight back. They can’t implement their NWO one country at a time, they will have to oppress many countries at once.

As I have been saying for the past year to some of the more nihilistic people in the liberty movement who think all it lost, understand that you are lucky to be living in the US right now and you should be thankful for the millions of conservatives that actively and vocally refused to comply with the mandates and vaccines. They saved the country from greater tyranny. If the globalists had got what they really wanted, we would look a lot like China right now.

We hovered close to that black sun and danced with the devil, but we are not beaten.

As it stands, China continues to represent a model of authoritarian dreams; a research study in mass psychological torture. Far from being a counter-point to the globalists, it is actually a globalist work in progress. Watch what happens there closely, because the evils perpetrated there will eventually be attempted here at home.
 

marsh

On TB every waking moment

Visualizing The World's Largest Hydroelectric Dams​

FRIDAY, DEC 02, 2022 - 08:30 PM

Did you know that hydroelectricity is the world’s biggest source of renewable energy? According to recent figures from the International Renewable Energy Agency (IRENA), it represents 40% of total capacity, ahead of solar (28%) and wind (27%).

This type of energy is generated by hydroelectric power stations, which are essentially large dams that use the water flow to spin a turbine. They can also serve secondary functions such as flow monitoring and flood control.

To help you learn more about hydropower, Visual Capitalist's Marcus Lu has visualized the five largest hydroelectric dams in the world, ranked by their maximum output.


Overview of the Data​

The following table lists key information about the five dams shown in this graphic, as of 2021. Installed capacity is the maximum amount of power that a plant can generate under full load.



At the top of the list is China’s Three Gorges Dam, which opened in 2003. It has an installed capacity of 22.5 gigawatts (GW), which is close to double the second-place Itaipu Dam.

In terms of annual output, the Itaipu Dam actually produces about the same amount of electricity. This is because the Parana River has a low seasonal variance, meaning the flow rate changes very little throughout the year. On the other hand, the Yangtze River has a significant drop in flow for several months of the year.

For a point of comparison, here is the installed capacity of the world’s three largest solar power plants, also as of 2021:

  • Bhadla Solar Park, India: 2.2 GW
  • Hainan Solar Park, China: 2.2 GW
  • Pavagada Solar Park, India: 2.1 GW
Compared to our largest dams, solar plants have a much lower installed capacity. However, in terms of cost (cents per kilowatt-hour), the two are actually quite even.

Closer Look: Three Gorges Dam​

The Three Gorges Dam is an engineering marvel, costing over $32 billion to construct. To wrap your head around its massive scale, consider the following facts:
  • The Three Gorges Reservoir (which feeds the dam) contains 39 trillion kg of water (42 billion tons)
  • In terms of area, the reservoir spans 400 square miles (1,045 square km)
  • The mass of this reservoir is large enough to slow the Earth’s rotation by 0.06 microseconds
Of course, any man-made structure this large is bound to have a profound impact on the environment. In a 2010 study, it was found that the dam has triggered over 3,000 earthquakes and landslides since 2003.

The Consequences of Hydroelectric Dams​

While hydropower can be cost-effective, there are some legitimate concerns about its long-term sustainability.

For starters, hydroelectric dams require large upstream reservoirs to ensure a consistent supply of water. Flooding new areas of land can disrupt wildlife, degrade water quality, and even cause natural disasters like earthquakes.

Dams can also disrupt the natural flow of rivers. Other studies have found that millions of people living downstream from large dams suffer from food insecurity and flooding.

Whereas the benefits have generally been delivered to urban centers or industrial-scale agricultural developments, river-dependent populations located downstream of dams have experienced a difficult upheaval of their livelihoods.
– RICHTER, B.D. ET AL. (2010)

Perhaps the greatest risk to hydropower is climate change itself. For example, due to the rising frequency of droughts, hydroelectric dams in places like California are becoming significantly less economical.
 

marsh

On TB every waking moment

Lavrov Announces Russia, China Are Stepping Up Military Cooperation

FRIDAY, DEC 02, 2022 - 07:15 PM
Authored by Dave DeCamp via AntiWar.com,

Russian Foreign Minister Sergey Lavrov said Thursday that the US and NATO’s move to focus on countering China in the Asia Pacific has led to an increase in military cooperation between Moscow and Beijing.

"We know how seriously the People’s Republic of China regards these provocations [by NATO in the South China Sea], let alone Taiwan and the Taiwan Strait. We understand that this playing with fire by NATO in that part of the world carries threats and risks for the Russian Federation," Lavrov said at a press conference, according to TASS.

Via EPA
In recent years, the US has stepped up its military presence in the South China Sea and near Taiwan, and some of its European allies have sent ships to the region, including the UK, France, and Germany.

"It’s as close to our shores and our seas as it is to Chinese territory. So, our military cooperation with the People’s Republic of China is developing. We are holding joint exercises, both counterterrorism exercises and air patrolling exercises," Lavrov said.

NATO has identified China as a "challenge" to the alliance and has said it should forge stronger relationships with countries in the Asia Pacific, including Australia, South Korea, Japan, and India. Building new alliances in the region is a key aspect of the US strategy against China, as outlined by the Biden administration’s Indo-Pacific Strategy.

Lavrov said that the US and NATO are trying to create an "explosive situation" in the Asia Pacific and pointed to the AUKUS military pact between the US, Britain, and Australia. Under AUKUS, Australia is expected to receive technology to develop nuclear-powered submarines, and the US will expand its military presence in Australia.

China has previously warned that the Biden administration’s efforts to build alliances in the Asia Pacific could lead to a Ukraine-style "tragedy" in the region. "The United States has tried to create regional tension and provoke confrontation by pushing forward the Indo-Pacific strategy," Chinese Foreign Minister Wang Yi said back in April.

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The increasing military cooperation between Russia and China is a natural reaction to the similar pressure they are facing from the West. In a sign of the growing ties, Russian and Chinese bombers flew a joint patrol over the western Pacific on Wednesday.
 

marsh

On TB every waking moment

Scientists Claim To Have Created A Tiny Wormhole In The Quantum Realm​

FRIDAY, DEC 02, 2022 - 05:35 PM
Authored by Elijah Cohen via TheMindUnleashed.com,

For some who find the Fibonacci sequence used to entanglement qubits to be baffling, which is a crazy topic we published a video about here, you’d best grab onto something solid.

Recently, a group of scientists discovered that quantum systems may mimic wormholes, theoretical shortcuts in spacetime, in that they permit the instantaneous transfer of information between distant places.

Despite the fact that quantum particles are unaffected by gravity in the same manner that classical objects are, the study team believes their results may have ramifications for investigating quantum gravity. The study appeared this week in the journal Nature.
“The relationship between quantum entanglement, spacetime, and quantum gravity is one of the most important questions in fundamental physics and an active area of theoretical research,” California Institute of Technology physicist Maria Spiropulu, the paper’s primary author, claimed in a press release. “We are excited to take this small step toward testing these ideas on quantum hardware and will keep going.“
It’s time to take a breather. It should be made clear that the researchers did not really transmit quantum information via a spacetime rip, which in principle would unite previously disconnected parts of the universe.

Think of it as folding a sheet of paper in half and sticking a pencil in between the folds. Since the paper represents spacetime, you may use it as a gateway to connect two seemingly inaccessible locations.

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In theoretical physics, there is a theory that posits wormholes are analogous to quantum entanglement, which Einstein notably referred to as “spooky action at a distance.” This indicates that the spins of entangled quantum particles characterize them uniquely, even at large distances. Due of their special bond, quantum particles make excellent teleportation prototypes.

Separate research from 2017 showed that the gravitational description of spacetime wormholes is equal to the transfer of quantum information. The new group has been investigating the problem for themselves for some years.

They aimed to demonstrate not just the equivalence of the two models, but also the possibility of describing information transmission in terms of either gravity or quantum entanglement. Scientists at Google were able to utilize its Sycamore quantum computer for the task.

“We performed a kind of quantum teleportation equivalent to a traversable wormhole in the gravity picture,” said Alexander Zlokapa, a graduate student at MIT and a part of the team, in the release. “To do this, we had to simplify the quantum system to the smallest example that preserves gravitational characteristics so we could implement it on the Sycamore quantum processor at Google.”
1670047952978.png
A quantum bit (qubit) was introduced into a unique quantum system, and the scientists then saw data leaving the system.

According to their paper, the information they had placed into one quantum system had exited the other system through the quantum counterpart of a wormhole.

The researchers added that the teleportation of the quantum information was consistent with both quantum physical expectations and the gravitational knowledge of how an item would move through a wormhole.

To see how this quantum information transfer could evolve in a more complicated experimental setting, the team aims to construct increasingly advanced quantum devices. It has been 87 years since Einstein and his collaborators first described wormholes; maybe by the time the concept reaches 100, scientists will have figured out how they work.
 
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