Bill Maher Calls Out Hollywood Pedophilia And The Gay Agenda In Schools

It's not the easiest thing for a person to step away from their peer group and question the dogmatic political path the mob has chosen to follow.  When it comes to the woke left, stepping out of line is doubly difficult because any deviation from the approved ideology usually means immediate cancellation and excommunication (one's career is in danger).  Only a few years ago it would have been unheard of for a mainstream celebrity to break from the progressive pack and speak publicly about inconvenient truths.  Those few that did were quickly blacklisted.

Consider the bizarre leftist war on Star Wars actress Gina Carano, who expressed conservative views on the trans issue and was told she had to participate in a company sponsored Zoom struggle session.  The message was clear:  She was expected to sublimate herself in front of a crowd of 45 finger-wagging LGBT people in order to make amends.  When she refused and continued defending her personal conservative ideals online, she was made an example of and cast out of Hollywood. 

Bill Maher is, if anything, clever about his timing like most comedians.  His rebellion against the woke mob has been carefully crafted in a way that has allowed him to avoid outright cancellation.  It's not as impressive a revolt as Gina Carano's because the risk today is far less, but at least he's willing to address the obvious hypocrisy within the social justice crowd and admit that maybe, just maybe, conservatives had it right all along.  

His latest surprising monologue covers an issue everyone has known about for years but almost no one in the media has been willing to address seriously because it involves many of their friends in the entertainment industry.  Hollywood was quick to jump on the feminist bandwagon at the helm of the "Me Too Movement", but this only exposed a small part of Hollywood's degeneracy.  Actresses trading sex for favors from producers and executives is hardly that shocking a revelation.  The thing they really don't want to talk about is the industry's penchant for pedophilia...

It turns out for pedophiles in Hollywood, "It's A Small World After All." pic.twitter.com/4qUtOhXZYL

— Bill Maher (@billmaher) April 20, 2024

One of the deepest darkest secrets of film, television and music media is that the business has long been used as a vehicle for child abusers to target kids in an environment where parental supervision is limited (and lots of money can be gained).  This reminds us of yet another environment where parental supervision is limited:  Public schools.  The political left has also targeted these institutions as ample ground for grooming.  Why?  As Bill Maher notes, the groomers are naturally gravitating to where the children are.

"Leave the kids alone" is a mantra that the woke movement simply refuses to understand or accept.  The reason is relatively transparent - Leftists are less inclined to have children of their own, and so, in order to increase their numbers and power they are required to indoctrinate your kids instead.  This is all done under the guise of "inclusion" and the "greater good" but the results of this kind of activism are becoming deeply disturbing.  Even moderate liberals are noticing that woke behavior is destroying what remains of their image.

It may be that people like Bill Maher are finally realizing that progressive extremism is opening the door to a Trump win in November and they are in a panic to pull their compatriots back from the brink.  Most of the world hates woke activists with a passion and they just want to go back to the days when race and sexuality were not at the center of every single discussion, whether it be in movies or in the classroom.  Progressives have become so drunk with power after receiving the backing of governments and corporations that they flew too close to the sun; now they are getting roasted in the flames of public distrust.   

Tyler Durden Sat, 04/20/2024 - 12:15

Why Is Gold Rising Now, Where Is It Headed Tomorrow?

Authored by Matthew Piepenburg via VonGreyerz.gold,

Needless to say, we at VON GREYERZ spend a good deal of time thinking about, well… gold.

The Complex, the Simple, the Math and the History

Year after year, and week after week, there is always a new way to examine gold price moves and decipher the obvious and not-so obvious forces which flow behind, ahead, above and below its monetary and, yes, metallic, move through time.

Today, deep into the early decades of the 21st century, and well over 100 years since the not-so immaculate conception of the Fed in the early 20th century, we could (and have) spent pages and paragraphs on key turning points in the rigged to fail history of paper vs. metallic money.

At times, this effort can and has seemed intense and even complex, with all kinds of historical facts, mathematical comparisons and “big events.”

The turning points of gold’s relationship with fiat currencies, and its role in preserving wealth, for example, are known to an admitted minority—as only about 0.5% of global financial allocations include physical gold.

Gold’s Language

Yet the need, role and direction of gold is fairly blunt, at least for those with eyes to see and ears to hear.

History, for example, has some clear things to say about paper money.

And so does gold.

From the Bretton Woods promises of 1944 and Nixon’s open and subsequent welch on the same in 1971 to the 2001 outsourcing of the American dream to China under Clinton (and the WTO) or the recent weaponization of USD in Q1 of 2022, gold has been watching, acting and speaking to those who understand her language.

The Big Question: Why Is Gold Rising Now?

And this year, with gold reaching all-time-highs, piercing resistance lines and racing toward what the Wall Street fancy lads call “price discovery,” we are understandably getting a lot of interview requests, phone calls and even emails from friends otherwise silent for years and now suddenly asking the same thing:

“Why is gold rising now?”

The Wall Street side of my odd brain, like it or not, gets all excited by such questions.

Never at a loss for words, my pen and mouth rapidly seek to wax poetic on the many answers to why gold matters forever in general, and why it is rising in particular now.

Toward that end, the list of the fancy and not-so-fancy answers to this question in recent years, articles and interviews could look as simple (or as complex) as the following list of 7 key factors:

The Malignant Seven

1. Every debt crisis leads to a currency crisis—hence: Good for gold.

2. All paper currencies, as Voltaire quipped, eventually revert to their paper value of zero, and all debt-soaked nations, as von Mises, David Hume and even Ernest Hemingway warned, debase their currencies to retain power—hence: Good for gold.

3. Rising rates (and fiscal dominance) used to “fight inflation” are too expensive for even Uncle Sam’s wallet, thus he, like all debt-soaked nations, will debase his currency to pay his own IOUs—hence: Good for gold.

4. Global central banks are dumping unloved and untrusted USTs and stacking gold at undeniably important levels—hence: Good for gold.

5. After generations of importing US inflation and being the dog wagged by the tail of the USD, the BRICS+ nations, prompted by a weaponized Greenback, are now turning their tails slowly but surely away from the USD dog—hence: Good for gold.

6. The Gulf Cooperation Council oil powers, once seduced (circa 1973) into a Petrodollar arrangement by a high-yielding UST and globally revered USD, are now openly selling oil outside of the 2024 version of that far less-yielding UST and far less-trusted USD—hence: Good for gold.

7. That legalized price-fixing sham otherwise known as the COMEX employed in 1974 to keep a permanent boot to the neck of the gold price, is running out of the physical gold needed to, well…price fix gold—hence: Good for gold.

In short, each of these themes–from sovereign (and unprecedented) debt levels, historical debt lessons, the secrets of the rate markets, global central banks dumping USTs or the implications of changing oil markets to the OTC derivatives scam masquerading as capitalism–all DO explain why gold is rising now.

This list, of course, may be simple, but the forces, indicators, lingo, math and trends within each theme can be admittedly complex, as each theme is in fact worthy of its own text book rather than bullet point.

Indeed, currencies, markets, history, bonds, geopolitics, energy moves and derivative desks are complicated little creatures.

But despite all this complexity, study and deliberation, if you really want to address the question of “why is gold rising now?”—the answer is almost too simple for those of us who wish to appear, well… “complex.”

The Too-Simple Answer to the Big Question

In other words, the simple answer—the answer that cuts through all the fog, lingo and math of “sophisticated” financial markets–boils down to this:

GOLD IS NOT RISING AT ALL. THE USD IS JUST GETTING WEAKER AND WEAKER.

At VON GREYERZ, we never measure gold’s value in dollars, yen, euros or any other fiat currency. We measure gold in ounces and grams.

Why?

Because history and math (as well as all the current and insane financial, geopolitical, and social events staring us straight in the eyes today) teach us not to trust a currency backed by man (or the “full faith in trust” of the UST or a Fed’s mouse-clicked currency), but instead to seek value in monetary metals created by nature.

Fake Money & Empty Promises

Once a currency loses a gold backing (nod to Nixon), it is nothing more than the empty promise of a government now free to print and spend without a chaperone to buy votes, market bubbles and even a Nobel Prize (i.e., what Hemingway called “temporary prosperity”) but then hand the bill and inflation to future generations (what Hemingway then called “permanent ruin”).

Gold Does Nothing

So yes, gold, as Buffet and others have quipped, “does nothing.” It just sits there and stares at you.

But while this yield-less pet rock sits there “doing nothing,” the currency by which you measure your wealth is in fact quite busy melting like an ice cube–one day, month and year at a time.

Here’s to Doing Nothing: Price vs. Value

Sometimes a picture can say a thousand words and make the most complex economic topics or themes, like “price vs. value” or “store of value,” make immediate sense.

Think, for example, about a 1-ounce bar of gold just doing nothing in say… 1920.

Well, if you had 250 of those do-nothing ounces in a shoe box in 1920, which was “priced” then at around $20 USD per ounce, you could afford the average US home, then priced at $5000.

Today, however, the average price of a US home is $500,000.

So, if your grandfather left you a shoebox with 5000 crumpled Dollars inside, it would not even pay for the landscaping needed for that same house today.

But if your grandfather had instead handed you a shoebox with those same 250 singe-ounce bars of gold (today “priced” at 2300/ounce), you could buy the same average home and the landscaper too—with a nice tip for the latter.

So, do you still think those little gold bars just stared back at you, doing nothing?

After all, the shoe box with the 5000 USDs inside was very busy doing one thing very well, namely: Losing its value like snow melting off a spring mountainside…

So, which shoebox would you want to measure your wealth?

The one measured in fiat dollars actively losing value? Or the one measured in gold ounces “doing nothing” but retaining its value?

Sometimes the complex really is that simple.

The Next Big Question: Where’s Gold Headed Tomorrow?

The pathway to answering such a question is just as clear as the one we just traveled.

The aforementioned “Malignant Seven” are each factors which we believe will continue to push the USD down and hence gold higher, because, and to repeat: It’s not that gold will get stronger, it’s just that all fiat currencies in general, and the weaponized, distrusted and over-indebted USD in particular, get weaker.

But for those still understandably and realistically convinced that despite its myriad and almost endless flaws, the US (and its Dollar) is still, for now at least, the best horse in the glue factory, a case can be made that measured relative to other currencies (i.e., the DXY), that the USD is supreme, and that when and as financial markets weaken, investors will flock to it like a lifeboat in a tempest.

Milkshake Theory?

Such a credible view is held by very smart folks like Brent Johnson, with whom I have discussed the USD at length.

Brent’s “milkshake theory” intelligently argues that powerful demand forces from the euro dollar, SWIFT and derivative markets, for example, create a massive, “straw-like” sucking sound for the “milky” USD, which demand will keep it strong, and send it stronger, in the seasons ahead.

He may in fact be right.

But I think differently.

Why?

Two primary reasons stick out.

No “Straw” for the UST

First, despite the undeniably powerful demand forces at play for the USD, demand for USTs is, and has been, tanking around the world since 2014.  That is, foreigners don’t trust the US IOUs as much as they did before America became a debt trap.

Ever since foreign (central bank) interest in USTs began net-selling in 2014, and gold interest began net-buying in 2010, the only buyer of last resort for US public debt has been the US Fed, and the only tool the US Fed has to purchase that debt is a mouse-clicker (“money printer”) at the Eccles Building.

Unfortunately, creating money out of thin air is not a sustainable  policy but a near-term fantasy. More importantly, such a policy is inherently, and by definition: Inflationary.

My US Realpolitik Theory…

The second, and perhaps more important reason the USD’s declining future is fairly easy to see (or argue), is this:

EVEN UNCLE SAM WANTS AND NEEDS A WEAKER DOLLAR.

Why?

Because the only way out of the biggest debt hole the US has ever seen is to inflate its way out of it by debasing the currency to “save” an otherwise rotten system.

We’ve argued this for years, and the facts supporting this historically-repeated pattern (and view) haven’t changed; they’ve just grown worse.

That is why it was easy to foresee that inflation would not be “transitory” despite all the useless commentary (and Fed-speak) arguing to the contrary.

That is also why it was easy to see that Powell’s “war on inflation” was a political ruse—an optics play.

Powell’s real aim was (and remains) inflationary via negative real rates (i.e., inflation higher than 10Y bond yields).

Thus, even while pursuing his “higher-for-longer” and anti-inflationary rate hikes, actual inflation, which Powell needed, was still ripping.

But he (and the BLS) was able get around this embarrassing CPI reality by simply lying about the actual inflation…

In other words: Classic DC fork-tonguing…

China is Not Turning Japanese

But in case you still need further proof that the US wants and needs a weaker USD to fake its way out of their self-created debt disaster via an increasingly diluted USD at YOUR expense, just consider what’s happening with China.

Unbeknownst to many, Yellen has been scurrying off to Asia to convince, cajole or even threaten China into accepting a weaker USD vs the CNY.

Why?

Because the prior, “stronger” 40-year version of the Dollar has rendered expensive US exports (and trade deficits) unable to compete with cheaper Chinese goods.

This floating currency game was a trick the US played on Japan when I was a kid—i.e., weaken the USD to fight the then-rising Sun of Japan’s then rising power.

But China ain’t Japan. It won’t float its currency in dollar terms.

So, what then can the US do to weaken the USD without upsetting China?

Does DC Finally Want Higher Gold Prices?

Well, as Luke Gromen once again makes beautifully clear, the easiest path forward for all parties concerned is to simply (and finally) let gold go much, much higher.

The surest and steadiest path to a weaker USD is higher gold.

Yellen’s Treasury Department could use its Exchange Stabilization Fund to buy/sell gold and other financial securities to control the USD without having to rely so much on the Fed’s now embarrassing money printer.

Gold is now a critical pivot point and tool for the US. If gold went, for example, to $4000 while CNY gold sits at 16,000, China’s central bank would have to re-rate higher in Dollar terms, pushing the CNY higher.

But such an arrangement won’t upset China, as it holds a lot more gold than the World Gold Council reports.

Rather than float the CNY in Dollar terms, China could instead float its CNY in GOLD terms.

In short: A veritable win-win for the China and the US, with gold now leading the way.

Or stated otherwise, you know it’s gonna be a gold tailwind, when both China and DC are seeking higher gold.

Based on the foregoing, do you still think gold does nothing?

Think harder.

Tyler Durden Sat, 04/20/2024 - 11:40

What Are The Biggest Perceived Dangers Of AI?

As with every technological advancement, generative artificial intelligence tools like OpenAI's ChatGPT, image generator Midjourney or Claude, the chatbot created by AI startup Anthropic, are used for productivity and creation as well as increasingly for scams and abuse.

Among this new wave of malicious content, deepfakes are especially noteworthy.

These artificially generated audiovisual content pieces include voter scams via impersonating politicians or the creation of nonconsensual pornographic imagery of celebrities.

However, as Statista's Florian Zandt reports, a recent survey by Microsoft shows, fakes, scams and abuse are what online users worldwide are most worried about.

71 percent of respondents across 17 countries surveyed by Microsoft in July and August 2023 were very or somewhat worried about AI-assisted scams.

You will find more infographics at Statista

Without further clarifying what constitutes this kind of scam, it is most likely connected to the impersonation of a person in the public eye, a government official or a close acquaintance of the respondents.

Tying for second are deepfakes and sexual or online abuse with 69 percent.

AI hallucinations, which are defined as chatbots like ChatGPT presenting nonsensical answers as facts due to issues with the training material, come in fourth, while data privacy concerns, which are related to large language models being trained on publicly available data of users without their explicit consent, takes fifth place with 62 percent. Overall, 87 percent of respondents were worried at least somewhat about one problematic AI scenario.

Despite the huge market for artificial intelligence - estimated to be between $300 and $550 billion in 2024 by various sources - the survey results indicate that ignoring its potential pitfalls and dangers could prove detrimental to society at large. This is especially true in sensitive areas like politics. With the U.S. presidential elections looming in the fall, the social media landscape is bound to be rife with artificially generated mis- and disinformation.

At a recent hearing on the topic of deepfakes and AI used in election cycles, the CEO of deepfake detection company Reality Defender, Ben Colman, praised some aspects of generative AI while highlighting its dangers as well:

"I cannot sit here and list every single malicious and dangerous use of deepfakes that has been unleashed on Americans, nor can I name the many ways in which they can negatively impact the world and erode major facets of society and democracy", said Colman.

"I am, after all, only allotted five minutes. What I can do is sound the alarm on the impacts deepfakes can have not just on democracy, but America as a whole."

Will this new path for mis-, dis-, mal-information simply become 'regulated' to fit with the government's definitions of 'truth'... "for our own good?"

Tyler Durden Sat, 04/20/2024 - 11:05

Middle Class Can't Afford Homes In Nearly Half Of Top 100 US Metros, Study Finds

By Sam Bourgi of CreditNews,

Housing is becoming an exclusively upper-class privilege in a growing number of cities.

According to a new study by Creditnews Research, in 2024, middle-class households could afford to buy an average home in just 52 of the country’s 100 largest metros.

Just five years earlier, they could afford a home in 91 of the top 100 metros.

The situation is far worse for lower middle-class households, as they can only afford a home in seven of the largest 100 metros.

In total, 41 out of the 100 metros require a gross annual income of $100,000 or more to qualify for an average home. In 13 metros, an average income of more than $155,000 is needed.

In those cities, even the upper-middle class doesn’t qualify for an average home.

The study determined affordability by looking at how much income households need to earn to afford a down payment, mortgage payment, and related fees for an average home.

A home is considered affordable if monthly housing and mortgage costs don’t exceed 28% of a household’s gross income.

“There’s no two ways about it: Housing affordability has worsened significantly since Covid,” the report said. Since the pandemic, 39 of the most populous metros have fallen below the affordability threshold.

As expected, the most affordable areas for the middle class are located in the Midwest, Rust Belt, and parts of Texas, while the West Coast, Tri-State Area, and Hawaii are largely out of reach.

Affording a home is no longer a guarantee for the middle class

Being considered “middle class” doesn’t carry the same significance as it did just a few years ago.

“In the past, if you were middle class, it was almost assumed you would become a homeowner,” said Ali Wolf, chief economist of Zonda, a housing market research firm.

“Today, the aspiration is still there, but it is a lot more difficult. You have to be wealthy or lucky.”

That's all thanks to a “perfect storm” of elevated mortgage rates, sky-high home prices, and a lack of inventory, making housing more unaffordable.

The result is that middle-income buyers, or those with an annual income of up to $75,000, could only afford about one-quarter of listings on the market last year.

According to Nadia Evangelou, the director of real estate research at the National Association of Realtors, “Middle-income buyers face the largest shortage of homes among all income groups, making it even harder for them to build wealth through homeownership.”

Mortgage rates creep closer to 7%

After falling between November and January, mortgage rates are creeping back up.

According to Freddie Mac, 30-year fixed-rate mortgages reached 6.88% in the week of April 11 and at some point climbed well above 7%.

“As mortgage rates increase, it’s never good news for the housing market, especially when more sellers are in the mix,” said HousingWire lead analyst Logan Mohtashami.

“We saw a bounce in demand early in the year as rates fell. However, just like last year, when mortgage rates headed higher, it limits sales growth.”

The reversal seems to be driven by a surprise spike in inflation, which has come out higher than expected for four consecutive months

“For homebuyers, the latest CPI report means mortgage rates will stay higher for longer because it makes the Fed unlikely to cut interest rates in the next few months,” said Chen Zaho, Redfin’s economic research lead.

“Housing costs are likely to continue going up for the near future, but persistently high mortgage rates and rising supply could cool home-price growth by the end of the year, taking some pressure off costs.”

Tyler Durden Sat, 04/20/2024 - 10:30

Utah Students Stage Walkout To Protest 'Barking And Biting Furries' In The Classroom

American schools have changed a lot in just the past five years.  Not long ago, it was understood by even the most progressive educators that some rules need to be put in place to keep kids in check.  Structure has always been a good thing for small people with developing brains and uncontrollable emotions.  Sadly, the educational system has been inexorably hijacked by the most extreme elements of the far left and by extension the principles used to maintain order among often impetuous and impulsive children have been quickly eroded in the name of "deconstruction." 

For those outside of what is now referred to as "Gen Alpha" (the generation born from 2010 onward), most people grew up with restrictions in school, including dress codes.  While some institutions might have been more oppressive than others, overall there was a balance between "expressing one's individualism" and keeping that expression from disrupting one's education - Schools should focus on academia, not catering to people's narcissism. 

Today, the progressive ideology has devolved into a bizarre form of cultism in which almost all behavior is justified as long as it is minority behavior.  This includes the behaviors of the mentally unstable and deranged; such people are swiftly becoming the most popular minority on the victimhood totem pole.

Nebo Middle School in Utah County has recently witnessed what might be the beginning of the end of the "anything goes" era in public schooling, with students (not just parents) protesting en masse over the disruptive inclusion of children identifying as furries and allegedly harassing other kids.  Students claim that furries bark in class, bite and scratch other children while generally creating chaos.

School officials deny these incidents and claim that the protest was triggered by "internet rumors."

       

This kind of story might seem like fluff and silliness, but that's how wokism was able to invade American schools in the first place - No one took it seriously until it was too late.

The furry issue is only a small part of a much larger debate that includes subjective identity, trans indoctrination, gender pronoun propaganda, equity over merit propaganda, personal truth vs objective truth, moral relativism, etc.  The question is this:  Should public institutions cater to mentally unstable people exhibiting aberrant or self-centered behaviors to the detriment of everyone else all in the name of equity?  Can we just admit that there is such a thing as too much freedom?

Where is the line?  Well, it's safe to say that dressing up as a cartoon animal and trying to bite people in the classroom is probably somewhere past the point of no return.  The school denies these events and blames rumor, but rumors alone don't motivate an entire student body to walk out and protest something as strange as furries.  There must be a problem that isn't being addressed, and these days this usually means there's a politically correct reason behind the refusal to punish certain students.

“We just wanted to learn.”

So this is insane. Hundreds of students at Mt. Nebo High School in Payson, Utah staged a mass walkout from school to protest the school’s tolerance of “furries.”

The students say that those who participate in the furry subculture are not only… pic.twitter.com/T5GTtR5qDx

— Ian Miles Cheong (@stillgray) April 18, 2024

If the youngest generation grows up without any boundaries or responsibility, what kind of adults will they eventually become?

On the positive side, the Nebo walkout suggests that the younger generation is not as brainwashed by inclusion rhetoric as many people might believe.  They are acting to keep the worst elements of their own community in check whether woke school officials like it or not.  Tolerance of all behaviors leads to acceptance of the worst behaviors.  Any school administrators that don't understand this basic fact should be removed from their positions.

In the meantime the number of parents in the US choosing to home school their kids continues to climb, and we all know the real reason why. 

Tyler Durden Sat, 04/20/2024 - 09:55

The key reports scheduled for this week are the advance estimate of Q1 GDP, March New Home sales and March Personal Income and Outlays.

For manufacturing, the April Richmond and Kansas City manufacturing surveys will be released.

----- Monday, April 22nd -----
8:30 AM ET: Chicago Fed National Activity Index for March. This is a composite index of other data.

----- Tuesday, April 23rd -----
10:00 AM: New Home Sales for March from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the sales rate for last month.

The consensus is for 670 thousand SAAR, up from 662 thousand in February.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for April.
 

----- Wednesday, April 24th -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:30 AM: Durable Goods Orders for March from the Census Bureau. The consensus is for a 2.0% increase in durable goods orders.

During the day: The AIA's Architecture Billings Index for March (a leading indicator for commercial real estate).

----- Thursday, April 25th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 210 thousand initial claims, down from 212 thousand last week.

8:30 AM: Gross Domestic Product, 1st quarter 2024 (Advance estimate). The consensus is that real GDP increased 2.1% annualized in Q1, down from 3.4% in Q4.

10:00 AM: Pending Home Sales Index for March. The consensus is for a 2.0% decrease in the index.

11:00 AM: the Kansas City Fed manufacturing survey for April.

----- Friday, April 26th -----
8:30 AM ET: Personal Income and Outlays, March 2024. The consensus is for a 0.5% increase in personal income, and for a 0.3% increase in personal spending. And for the Core PCE price index to increase 0.3%.  PCE prices are expected to be up 2.6% YoY, and core PCE prices up 2.7% YoY.

10:00 AM: University of Michigan's Consumer sentiment index (Final for April). The consensus is for a reading of 77.9.

Goofy Greens And Regulators Threaten Nuclear Revival

Authored by Duggan Flanakin via RealClear Wire,

Despite its commitment to “no more gas, oil, or coal,” Friends of the Earth has launched a campaign against one of the nation’s “greenest” governors, California’s Gavin Newsom. Their goal? To stop the U.S. Department of Energy from doling out $1 billion to keep the Diablo Canyon nuclear power plant (no gas, oil, or coal there) open past its planned 2025 closure date.

Newsom, whose policies are among the world’s most aggressive against gasoline- and diesel-powered vehicles and tools, last year stated that, “the Diablo Canyon power plant is important to support energy reliability as we accelerate progress towards achieving our clean energy and climate goals.” Diablo Canyon today supplies nearly a tenth of California’s electricity.

The aptly named FOE claims that “the environmental impacts from extending the lifespan of this aging power plant at this point in time have not been adequately addressed or disclosed to the public.” Other groups, too, spread fear about nuclear energy. But by far the most powerful obstacle for nuclear energy enthusiasts to overcome lies within the federal government.

While nuclear energy has accounted for about 20% of the electricity generated in the U.S., and in 2023 supplied nearly half the nation’s carbon-free electricity, a new report from the Government Accountability Office says the Nuclear Regulatory Commission must more fully consider possible impacts of climate change on the nation’s mostly aging nuclear power plants.

The message? The GAO report says that climate-related threats to nuclear power plants range from worsened droughts that dry up water supplies needed for cooling reactors to sea level rise and storm surge flooding. Despite its regulatory obtuseness, the report said the NRC should include “data” from future climate projections [scary scenarios?] in safety risk assessments along with the historical data the NRC relies upon. All this adds costs.

Douglas McIntyre, the former editor-in-chief of 24/Wall St., last month said that, despite the obvious need for nuclear power, “many Americans, perhaps remembering Three Mile Island, do not want nuclear energy to be part of the solution.” And a recent Pew Research poll found that, “Critics highlight the high cost of nuclear power plant projects and the complexities of handling radioactive waste.”

By contrast, the U.S. Department of Energy has argued that the U.S. will need an additional 550 to 770 gigawatts of clean, firm capacity to reach net-zero carbon dioxide emissions and that nuclear power is one of the few proven options that can fill this need. Moreover, nuclear power plants create high-paying jobs with concentrated economic benefits for the communities most impacted by the energy transition.

These dichotomous messages from the DOE and NRC are highlighted in a recent article by ThorCon International co-founder Robert Hargraves, who bluntly stated that the U.S. is not building commercial nuclear power plants – while 16 other nations are – “because NRC and EPA regulators are so misinformed about radiation.”

Regulatory overkill is a likely culprit in the failed six-reactor, 462-megawatt project NuScale had planned in cooperation with Utah Associated Municipal Power Systems, part of the DOE’s Carbon Free Power initiative for small modular reactors. Several towns pulled out and sank the project as the estimated price for power rose from $58 per megawatt-hour (MWh) to $89/MWh.

Misguided safety assumptions created a regulatory jungle so complex that startup Atomic Canyon is offering AI to help applicants navigate the NRC’s database of 52 million documents. U.S. nuclear energy regulators, Hargraves charged, do not analyze data about human health effects of radiation from nuclear power; instead, they rely on groupthink consensus evolved in NGOs originally misled in the 1950s by grant-seeking geneticists.

For decades these geneticists claimed radiation damage to chromosomes was increasing. But when children of the survivors of the Nagasaki and Hiroshima atomic bomb attacks exhibited no such effects, the anti-nuclear scientists switched to alleged cancer impacts. And a major flaw in their analysis is what caused the cost of nuclear energy to skyrocket.

While studies of those survivors found no excess cancers in people receiving less than 0.1 Gray (joules of energy absorbed by kilogram of tissue), regulators set public radiation limits 100 times lower, mistakenly limiting accumulated dose rather than dose rate. In the real world, setting a maximum daily dose of 0.02 Gray (rather than the current maximum cumulative annual dose of 0.001 Gray) would provide a large safety margin.

Salisbury University Professor of Finance Danny Ervin pooh-poohs the fears of nuclear foes, saying “the next wave of nuclear can’t come soon enough.” That “next wave” includes scalable nuclear reactors, notably the TerraPower initiative sparked by Bill Gates. This advanced facility, coupled with a molten salt energy storage system, will be capable of increasing output for nearly six hours during peak demand periods at a projected cost of about $4 billion.

The plant will be powered by an advanced Natrium reactor cooled with liquid sodium instead of water [eliminating one concern of skeptics]. With a capacity to generate up to 500 megawatts, it will provide ample energy to power approximately 400,000 homes.

Of equal importance is that its location at a former coal-fired power plant in Wyoming enables easy integration into the existing electric grid while stimulating the local economy. This contrasts with wind turbines and solar arrays, which often are located far from existing transmission lines, require massive footprints, and operate intermittently, thus requiring backup power generation.

Over in England, X-Energy, in partnership with Babcock International subsidiary Cavendish, has proposed to develop a 12-reactor plant using the company’s Xe-100 high-temperature gas-cooled reactor design.  The Teesside array, which should be operational by the early 2030s, is the first of what the companies hope will be a fleet of up to 40 of the 80 MWe power plants in locations across the United Kingdom.

Cavendish Nuclear managing director Mick Gornall boasts that, “a fleet of Xe-100s can complement renewables by providing constant or flexible power, producing steam to decarbonize industry, and manufacturing hydrogen and synthetic transport fuels. Deployment will also, he said, create thousands of high-quality, long-term jobs nationwide.

Uranium-rich Nigeria thinks it has a solution to the radioactive waste management issue that has been a big bugaboo for the nuclear energy industry worldwide. The solution relies on the NST SuperLAT, which NuclearSAFE Technology co-founder Dr. Jimmy Etti-Williams calls “a breakthrough in nuclear waste management.”

SuperLAT will, says Etti-Williams, process, package, load, store, and transport nuclear waste in casket containers to several thousand feet underground, yet able to be retrieved as needed for fuel in reactors to generate low-carbon-footprint energy. This geological nuclear waste disposal technology is designed to isolate and dilute nuclear waste in line with universal regulations.

The SuperLAT technology should, says Etti-Williams, satisfy International Atomic Energy Agency and other stakeholder concerns about nuclear waste storage accidents, leakages, or terror risks. He boasts that Nigeria can have its own uranium plants to boost its own and pan-African development efforts.

There’s an old saying, which first appeared in 1902 in Puck’s Magazine, with the message, “People who say it cannot be done should not interrupt those who are doing it.” It is high time, many now believe, for the nay-saying over-regulators to stop interrupting nuclear progress.

And on that front, too, there is good news. Nuclear Matters has announced an online gathering entitled, “The Path to Progress: Modernizing the NRC,” scheduled for May 2.

At the event, a four-person panel moderated by the Nuclear Energy Institute’s John Kotek will discuss the urgency of NRC modernization in order to unlock the benefits of nuclear technology innovation to revitalize the U.S. nuclear energy industry.

The anti-nuke FOEs (sic) will have little left to argue once these and other innovative nuclear projects prove successful and safe when brought to the fore in other nations – places like England and Nigeria. But those who seek reliable, safe, and clean technologies to generate the electricity in quantities needed tomorrow will only be satisfied if the archaic rules can be recrafted to accommodate them.

Duggan Flanakin is a senior policy analyst at the Committee For A Constructive Tomorrow who writes on a wide variety of public policy issues.

Tyler Durden Sat, 04/20/2024 - 08:10

Ukraine Claims First-Ever Shootdown Of Russian Strategic Bomber, Moscow Denies

Another Russian military aircraft has fallen from the sky in a fiery wreck, social media video widely circulating on Friday shows. But precisely how it happened is being hotly disputed.

Ukraine is now touting that for the first time ever, its forces have downed a Russian long-range bomber which was actively engaged in attacks on Ukrainian cities. "For the first time, anti-aircraft missile units of the air force in cooperation with the defense intelligence of Ukraine destroyed a Tu-22M3 long-range strategic bomber," Ukraine's military announced.

"This was the plane that bombed Dnipro and Kryvyi Rih. We took our revenge for our cities and civilians," air force spokesperson Illya Yevlash told international press, as cited in AFP.

However, Russia's military is disputing claims by Ukraine officials, instead saying a "technical malfunction" led to the crash which resulted in at least one crew member killed. 

A statement said further, "The pilots ejected, 3 crew members were evacuated by the search and rescue team, and the search for one pilot is currently underway." The military further said, "There was no ammunition on board; the plane crashed in a deserted area."

EuroNews has said it can't verify which side's version of events is true:

The Ukrainian report said military intelligence cooperated with the air force to bring down the Tu-22M3 bomber with anti-aircraft missiles. 

Russia commonly uses the bomber - which can also carry nuclear warheads - to fire Kh-22 cruise missiles at Ukrainian targets from inside its airspace.

Watch confirmed video of the strategic bomber falling quickly while engulfed in flames:

One of the Russian Tu-22 strategic bombers that took part in today’s attack on Ukrainian cities won’t be flying again. Ukraine says it shot down the plane, Russians say it was a malfunction. One of the four crew members is dead. https://t.co/DlA0wCze8a pic.twitter.com/L9h7ulm1UW

— Yaroslav Trofimov (@yarotrof) April 19, 2024

Russian authorities have indicated that the plane went down in the Stavropol region some 400km from eastern Crimeaa.

In January, Moscow said that Ukrainian forces shot down a Russian military transport plane that was carrying Ukrainian POWs. In February, Ukraine said it shot down two Russian A-50 spy planes within a matter of weeks.

Images show a large debris field in the Friday crash aftermath...

Via Telegram

Several Russian aircraft of various types have been downed throughout the more than two-year long war, but Friday marks the first time a Tu-22M3 bomber has been reported downed.

Tyler Durden Sat, 04/20/2024 - 07:35

The Regime That Doesn't Care

Authored by Jeffrey Tucker via The Epoch Times,

We’ve all come across warnings against doom scrolling.

This is the practice of waking up in the morning, scouring headlines, seizing on the bad news, and dwelling on the darkness. You do this during downtimes in the day and in the evening. Your mood worsens, permanently.

It cannot be good for the human spirit.

The term implies that we are somehow looking for doom because it gives us a dopamine rush or something. Testing this idea, I’ve variously tried to avoid doing that. But there is a problem. It is impossible to avoid simply because the bad news is so ubiquitous. In fact, I’ve come to distrust any venues that are not reporting it!

Many people have concluded that if we are looking for something other than doom, we should leave what we called “the news” entirely and focus on culture, religion, philosophy, history, art, poetry, or find something practical and productive to do.

I recently met a wonderful Mennonite family living in Amish country in Pennsylvania. They live a completely unplugged life: no cell phones, no internet, no TV. There are only books, community worship, farming, tending to livestock, shopping at local stores, and visiting with neighbors.

I never could have imagined that there would come a time when I would say to those who have completely seceded from modern life: you might be doing it the right way. There is something truly brilliant about the choices you have made.

Sure, they have created a bubble for themselves, one of their own choosing as an extension of their understanding of their faith tradition. One point I observed: they surely seemed happy. Not in a fake way that we see on social media but authentically happy.

Once you leave that world and dip back into normal life, it’s just undeniable. The headlines are filled with tragedy at home and abroad, much of it an outgrowth of population despair. The list is familiar: learning loss, substance addiction, suicide ideation, public and private violence, massive and well-earned distrust of everything and everyone, raging conflict at all levels of society.

It’s hard consolation that so many predicted this outcome of the pandemic response. We knew from the empirical literature that unemployment is associated with suicide, that isolation is connected with personal despair, that loss of community leads to psychopathology, that dependency on substances produces ill health.

So many warned of this outcome from what governments did. In many ways, the world before lockdowns seemed fixable. Afterwards, too much is broken and ruined to imagine redemption.

A good example for me is mainstream corporate media. There was a time when I could listen to NPR or read the New York Times (NYT) and disagree but think: well, that’s a perspective I reject but still I benefit from knowing it. It seemed like we were all part of the same national conversation.

This is no longer true. What made the difference? Probably the realization that they are not just confused or pushing some biased outlook but rather actively covering up and lying. Realizing that is incredibly disorienting.

There is something about pretending that the lockdowns and all that followed were completely normal that discredits them. They do it constantly. Sometimes the media will report on learning loss or the suicide epidemic or rising ill health in the population. But there seems to be this studious attempt to pretend that no one knows why it is happening.

Or my least favorite tactic: pretending as if the pandemic necessitated all this and that it was not an outgrowth of deliberate decision-making on the part of elites.

This stuff makes me want to scream: they locked us down when it was totally unnecessary!

As my friend Aaron Kheriaty often observes, they believe we are stupid. They actually think we cannot make connections, have no memory, no knowledge of anything serious, and will just eat up their porridge of baloney daily while exercising no critical intelligence over any of it.

This rubs me wrong particularly on the subject of the mRNA shots designed to address the virus. We know for certain that they were oversold and failed in all the ways they were supposed to succeed. We are further flooded with evidence of their harms both from personal experience and the scientific literature.

But do we read or hear about this in the legacy media? Absolutely not. Even when it is overwhelmingly clear that the shot should be considered a possible cause in the sudden rise of heart attacks, sudden death, turbo cancers, and maladies of all sorts, this whole subject is somehow unsayable in the corporate media.

The silence on this topic is so conspicuous and apparent that it discredits everything else. And what is the reason for it? Well, pharma advertising provides a stunning 75 percent of revenue for mainline television. That’s an astounding number. The networks are simply not going to bite the hand that feeds them.

That’s true for TV and probably something similar applies to everything else too.

What does this mean for the rest of us? It means that every time we turn on the TV, we are risking getting propagandized by companies that are seriously in league with the government to generate the highest possible revenue stream for themselves regardless of the consequences.

And why zero focus on vaccine injury? Incredibly, the companies themselves are indemnified against liability for any harms they cause. Just think about the implications of this. Even if you know for sure that you have been harmed by a product you were forced or otherwise manipulated to take, there is almost nothing you can do about it.

That’s an incredible fact, and goes a very long way toward explaining the silent treatment.

The discrediting of major media in this context reveals a deeper and more terrifying truth. Much of the elite class of economic and social managers do not have our best interests in mind. Once you realize this, the color of the world changes for you. Once you gain that insight, there is pretty much no going back from it.

Millions have come to this realization over the last four years. It has changed us as people. We desperately want to live normal happy lives but we are overwhelmed by what we’ve learned. It’s like the curtain was pulled back and we have seen what is really going on. The whole of official culture is screaming at us to ignore that man behind the curtain.

I’ve recently taken my own advice and thrown myself into reading history as a refuge. My choice was probably not the best if my goal was to brighten my spirits. I have been reading “The Vampire Economy” by German economist and financier Gunter Reimann, published in 1939 (and which I scanned and uploaded with the author’s permission).

The book was written as the Nazi Party had gained full control of government (and everything else) and the full war in Europe was about to commence with the German invasion of Poland.

Reimann brilliantly dissects the reality of a regime that cared nothing for the spreading suffering of the people.

“Nazi leaders in Germany do not fear possible national economic ruin in wartime,” he writes.

“They feel that, whatever happens, they will remain on top, that the worse matters become, the more dependent on them will be the propertied classes. And if the worst comes to the worst, they are prepared to sacrifice all other interests to maintain their hold on the State. If they themselves must go, they are ready to pull the temple down with them.”

That’s a bracing analysis and it could apply to many regimes in history, not just the Nazis. Indeed, good government in history has rarely been the norm. Power often benefits from suffering. As Americans we are not used to thinking this way about our elites. But it is probably time to realize that this trajectory is very much in play.

This might be the most striking change among millions of Americans over the last five or so years. We’ve come to realize that our leaders in so many sectors of American life (or global life, for that matter) do not favor our best interests. This is a troubling realization but it explains so much. It’s why the elites did not care about the harms of lockdowns or untested shots and are unconcerned about inflation, mass immigration, the rise of crime, squatting and the insecurity of property, exploding government debt, growing population surveillance, or anything like the normal rules of civilized life.

The regime, in the broadest possible way we can conceive of that term, simply doesn’t care. Even worse, it grows and benefits at our expense. They know it. We know it. They like it this way.

Tyler Durden Sat, 04/20/2024 - 07:00

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.

We are living in crazy times. I have a hard time believing that most of the general public is not awake, but in reality, they are. We've never seen anything like this; I mean not even under Obama during the worst part of the Great Recession." Now the Fed is desperately trying to keep interest rates from rising. The problem is that it's a much bigger debt bubble this time around , and the Fed is going to have to blow a lot more air into it to keep it inflated. The difference is this time it's not going to work." It looks like the Fed did another $104.15 billion of Not Q.E. in a single day. The Fed claims it's only temporary. But that is precisely what Bernanke claimed when the Fed started QE1. Milton Freedman once said, "Nothing is so permanent as a temporary government program." The same applies to Q.E., or whatever the Fed wants to pretend it's doing. Except this is not QE4, according to Powell. Right. Pumping so much money out, and they are accusing China of currency manipulation ? Wow! Seriously! Amazing! Dump the U.S. dollar while you still have a chance. Welcome to The Atlantis Report. And it is even worse than that, In addition to the $104.15 billion of "Not Q.E." this past Thursday; the FED added another $56.65 billion in liquidity to financial markets the next day on Friday. That's $160.8 billion in two days!!!! in just 48 hours. That is more than 2 TIMES the highest amount the FED has ever injected on a monthly basis under a Q.E. program (which was $80 billion per month) Since this isn't QE....it will be really scary on what they are going to call Q.E. Will it twice, three times, four times, five times what this injection per month ! It is going to be explosive since it takes about 60 to 90 days for prices to react to this, January should see significant inflation as prices soak up the excess liquidity. The question is, where will the inflation occur first . The spike in the repo rate might have a technical explanation: a misjudgment was made in the Fed's money market operations. Even so, two conclusions can be drawn: managing the money markets is becoming harder, and from now on, banks will be studying each other's creditworthiness to a greater degree than before. Those people, who struggle with the minutiae of money markets, and that includes most professionals, should focus on the causes and not the symptoms. Financial markets have recovered from each downturn since 1980 because interest rates have been cut to new lows. Post-2008, they were cut to near zero or below zero in all major economies. In response to a new financial crisis, they cannot go any lower. Central banks will look for new ways to replicate or broaden Q.E. (At some point, governments will simply see repression as an easier option). Then there is the problem of 'risk-free' assets becoming risky assets. Financial markets assume that the probability of major governments such as the U.S. or U.K. defaulting is zero. These governments are entering the next downturn with debt roughly twice the levels proportionate to GDP that was seen in 2008. The belief that the policy worked was completely predicated on the fact that it was temporary and that it was reversible, that the Fed was going to be able to normalize interest rates and shrink its balance sheet back down to pre-crisis levels. Well, when the balance sheet is five-trillion, six-trillion, seven-trillion when we're back at zero, when we're back in a recession, nobody is going to believe it is temporary. Nobody is going to believe that the Fed has this under control, that they can reverse this policy. And the dollar is going to crash. And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation. We're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down. everything is temporary with the fed including remaining off the gold standard temporary in the Fed's eyes could mean at least 50 years This liquidity problem is a signal that trading desks are loaded up on inventory and can't get rid of it. Repo is done out of a need for cash. If you own all of your securities (i.e., a long-only, no leverage mutual fund) you have no need to "repo" your securities - you're earning interest every night so why would you want to 'repo' your securities where you are paying interest for that overnight loan (securities lending is another animal). So, it is those that 'lever-up' and need the cash for settlement purposes on securities they've bought with borrowed money that needs to utilize the repo desk. With this in mind, as we continue to see this need to obtain cash (again, needed to settle other securities purchases), it shows these firms don't have the capital to add more inventory to, what appears to be, a bloated inventory. Now comes the fun part: the Treasury is about to auction 3's, 10's, and 30-year bonds. If I am correct (again, I could be wrong), the Fed realizes securities firms don't have the shelf space to take down a good portion of these auctions. If there isn't enough retail/institutional demand, it will lead to not only a crappy sale but major concerns to the street that there is now no backstop, at all, to any sell-off. At which point, everyone will want to be the first one through the door and sell immediately, but to whom? If there isn't enough liquidity in the repo market to finance their positions, the firms would be unable to increase their inventory. We all saw repo shut down on the 2008 crisis. Wall St runs on money. . OVERNIGHT money. They lever up to inventory securities for trading. If they can't get overnight money, they can't purchase securities. And if they can't unload what they have, it means the buy-side isn't taking on more either. Accounts settle overnight. This includes things like payrolls and bill pay settlements. If a bank doesn't have enough cash to payout what its customers need to pay out, it borrows. At least one and probably more than one banks are insolvent. That's what's going on. First, it can't be one or two banks that are short. They'd simply call around until they found someone to lend. But they did that, and even at markedly elevated rates, still, NO ONE would lend them the money. That tells me that it's not a problem of a couple of borrowers, it's a problem of no lenders. And that means that there's no bank in the world left with any real liquidity. They are ALL maxed out. But as bad as that is, and that alone could be catastrophic, what it really signals is even worse. The lending rates are just the flip side of the coin of the value of the assets lent against. If the rates go up, the value goes down. And with rates spiking to 10%, how far does the value fall? Enormously! And if banks had to actually mark down the value of the assets to reflect 10% interest rates, then my god, every bank in the world is insolvent overnight. Everyone's capital ratios are in the toilet, and they'd have to liquidate. We're talking about the simultaneous insolvency of every bank on the planet. Bank runs. No money in ATMs, Branches closed. Safe deposit boxes confiscated. The whole nine yards, It's actually here. The scenario has tended to guide toward for years and years is actually happening RIGHT NOW! And people are still trying to say it's under control. Every bank in the world is currently insolvent. The only thing keeping it going is printing billions of dollars every day. Financial Armageddon isn't some far off future risk. It's here. Prepare accordingly. This fiat system has reached the end of the line, and it's not correct that fiat currencies fail by design. The problem is corruption and manipulation. It is corruption and cheating that erodes trust and faith until the entire system becomes a gigantic fraud. Banks and governments everywhere ARE the problem and simply have to be removed. They have lost all trust and respect, and all they have left is war and mayhem. As long as we continue to have a majority of braindead asleep imbeciles following orders from these psychopaths, nothing will change. Fiat currency is not just thievery. Fiat currency is SLAVERY. Ultimately the most harmful effect of using debt of undefined value as money (i.e., fiat currencies) is the de facto legalization of a caste system based on voluntary slavery. The bankers have a charter, or the legal *right*, to create money out of nothing. You, you don't. Therefore you and the bankers do not have the same standing before the law. The law of the land says that you will go to jail if you do the same thing (creating money out of thin air) that the banker does in full legality. You and the banker are not equal before the law. ALL the countries of the world; Islamic or secular, Jewish or Arab, democracy or dictatorship; all of them place the bankers ABOVE you. And all of you accept that only whining about fiat money going down in exchange value over time (price inflation which is not the same as monetary inflation). Actually, price inflation itself is mainly due to the greed and stupidity of the bankers who could keep fiat money's exchange value reasonably stable, only if they wanted to. Witness the crash of silver and gold prices which the bankers of the world; Russian, American, Chinese, Jewish, Indian, Arab, all of them collaborated to engineer through the suppression and stagnation of precious metals' prices to levels around the metals' production costs, or what it costs to dig gold and silver out of the ground. The bankers of the world could also collaborate to keep nominal prices steady (as they do in the case of the suppression of precious metals prices). After all, the ability to create fiat money and force its usage is a far more excellent source of power and wealth than that which is afforded simply by stealing it through inflation. The bankers' greed and stupidity blind them to this fact. They want it all, and they want it now. In conclusion, The bankers can create money out of nothing and buy your goods and services with this worthless fiat money, effectively for free. You, you can't. You, you have to lead miserable existences for the most of you and WORK in order to obtain that effectively nonexistent, worthless credit money (whose purchasing/exchange value is not even DEFINED thus rendering all contracts based on the null and void!) that the banker effortlessly creates out of thin air with a few strokes of the computer keyboard, and which he doesn't even bother to print on paper anymore, electing to keep it in its pure quantum uncertain form instead, as electrons whizzing about inside computer chips which will become mute and turn silent refusing to tell you how many fiat dollars or euros there are in which account, in the absence of electricity. No electricity, no fiat, nor crypto money. It would appear that trust is deteriorating as it did when Lehman blew up . Something really big happened that set off this chain reaction in the repo markets. Whatever that something is, we aren't be informed. They're trying to cover it up, paper it over with conjured cash injections, play it cool in front of the cameras while sweating profusely under the 5 thousands dollar suits. I'm guessing that the final high-speed plunge into global economic collapse has begun. All we see here is the ripples and whitewater churning the surface, but beneath the surface, there is an enormous beast thrashing desperately in its death throws. Now is probably the time to start tying up loose ends with the long-running prep projects, just saying. In other words, prepare accordingly, and Get your money out of the banks. I don't care if you don't believe me about Bitcoin. Get your money out of the banks. Don't keep any more money in a bank than you need to pay your bills and can afford to lose.











The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more













The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

The FBI released a summary of its file from the Hillary Clinton email investigation on Friday, showing details of Clinton's explanation of her use of a private email server to handle classified communications. The release comes nearly two months after FBI Director James Comey announced that although Clinton's handling of classified information was "extremely careless," it did not rise to the level of a prosecutable offense. Attorney General Loretta Lynch announced the next day that she would not pursue charges in the matter. "We are making these materials available to the public in the interest of transparency and in response to numerous Freedom of Information Act (FOIA) requests," the FBI noted in a statement sent to reporters with links to the documents. The documents include notes from Clinton's July 2 interview with agents, as well as a "factual summary of the FBI's investigation into this matter," according to the FBI release. Throughout her interview with agents, Clinton repeatedly said she relied on the career professionals she worked with to handle classified information correctly. The agents asked about a series of specific emails, and in each case Clinton said she wasn't worried about the particular material being discussed on a nonclassified channel.