San Francisco Ends $5M-A-Year Program That Supplied Alcohol To Homeless Addicts

Sigh. It's not parody. It's San Francisco. The city is shutting down a controversial program that used millions in taxpayer funds to provide alcohol to homeless residents struggling with addiction, according to the NY Post.

Mayor Daniel Lurie said the city will end the Managed Alcohol Program, which cost about $5 million each year and began during the COVID-19 pandemic.

“For years, San Francisco was spending $5 million a year to provide alcohol to people who were struggling with homelessness and addiction — it doesn’t make sense, and we’re ending it,” Lurie told The California Post.

The program was launched in April 2020, when the city placed unhoused residents in hotels during lockdowns. Medical staff supplied controlled amounts of beer and liquor to prevent dangerous withdrawal symptoms while stores and bars were closed. Although intended as a temporary measure, it continued for nearly six years.

During its operation, the program served only 55 people, translating to an average cost of roughly $454,000 per client.

Now, Lurie says the city has fully pulled its support.

“We have ended every city contract for that program,” he said.

Community Forward, the nonprofit that managed the initiative in recent years, confirmed that the city has terminated its funding. Financial records show the group received millions in public money, much of it spent on staff salaries.

San Francisco’s program was the first of its kind in the United States, modeled loosely on similar efforts in Canada. Unlike other harm-reduction policies, such as needle exchanges, MAP directly supplied alcohol to people already dependent on it.

Since taking office last year, Lurie has moved away from long-standing harm-reduction policies. He has also ended the distribution of drug-use equipment and pushed for stricter enforcement of street drug activity.

“Under my administration, we made San Francisco a recovery-first city and ended the practice of handing out fentanyl smoking supplies so people couldn’t kill themselves on our streets,” Lurie said.

“We have work to do, but we have transformed the city’s response, and we are breaking the cycles of addiction, homelessness and government failure that have let down San Franciscans for too long.”

Last year, he warned open-air drug markets that enforcement would increase.

“If you do drugs on our streets, you will be arrested,” Lurie said. “And instead of sending you back out in crisis, we will give you a chance to stabilize and enter recovery.”

The Post writes that recovery advocates welcomed the decision to end MAP. Tom Wolf, a former homeless addict who now works in outreach, said the program wasted public funds.

“They [were] wasting our money just paying people to keep using the drug that they’re hopelessly addicted to,” Wolf said.

He also criticized how harm reduction has evolved.

“Harm reduction itself is part of the overall social justice framework,” he said, adding that it has shifted from preventing disease to “supporting drug users.”

Steve Adami, head of the Salvation Army’s recovery-focused program in San Francisco, said the city is now rethinking decades of policy.

“Under Mayor Lurie, they have reassessed the outcomes of those models,” Adami said. “That we are a recovery-first city. He’s made a significant investment into abstinence-based and recovery-focused services.”

In May, Lurie signed the Recovery First Act, signaling a shift toward abstinence and treatment-based approaches.

Despite the changes, major challenges remain. San Francisco has limited detox capacity, with only about 68 beds for thousands of people who cycle through homelessness each year. Many residents seeking help still face long waits for treatment.

The end of the alcohol program reflects the mayor’s broader effort to reverse years of permissive policies as he tries to address addiction, homelessness, and the decline of the city’s downtown core.

Tyler Durden Sun, 02/01/2026 - 22:45

Isaacman: NASA Aims To Build 'Martian Outpost' On Mars With Nuclear Propulsion

Authored by T.J. Muscaro via The Epoch Times (emphasis ours),

NASA Administrator Jared Isaacman announced his agency’s commitment to developing a nuclear propulsion system for missions to Mars within the next three years.

NASA Administrator Jared Isaacman (L) speaks at a press conference at Kennedy Space Center, Florida, on Jan. 17, 2026. (T.J. Muscaro/The Epoch Times).

“Before the end of @POTUS‘ term, @NASA will lay the foundation of a ’transcontinental railroad' to Mars,” Isaacman wrote on X on Jan. 30. “By utilizing nuclear electric propulsion, our nation will have the tools necessary to establish a Martian outpost and maintain American superiority in deep space.”

The administrator shared a clip from a Jan. 30 appearance on Fox News in which he explained that while NASA continues its work to put boots back on the moon, it will also launch its first nuclear power and propulsion rocket by the end of President Donald Trump’s term.

“That’s going to essentially almost establish the transcontinental railroad to Mars,” he said. “It’s how you efficiently move lots of mass to Mars. So it’s not necessarily always the fastest way to get there, but it gives you the tools to build out potentially a Martian outpost, certainly to mine and refine propellant on Mars, which is what you’re going to need to bring your astronauts back home.”

He explained that America would have the capability to send astronauts to Mars, but the hard part was bringing them back. Nuclear power and propulsion solved that problem.

Meanwhile, Isaacman reaffirmed that the Artemis program would continue to push forward the goal of the president’s national space policy to not just land humans back on the moon, but to construct a lunar base in order to stay and fulfill its scientific, economic, and strategic potential.

That base, he said, will involve a nuclear power plant, as well as mining operations, and refining Helium 3, which is considered to be the best fuel for nuclear fusion reactors, and plan to do it before communist China’s plan to do so by 2030.

“The Chinese said they’re going to do it,” Isaacman said of a nuclear reactor on the moon, “We’re going to do it first.”

But all of these plans still start with the mission whose rocket stands at Launch Complex 39-B at Kennedy Space Center in Florida: Artemis II. That 10-day mission, which will carry humans around the moon for the first time since Apollo 17 in 1972, and could do so as early as Feb. 8, awaits the results of a crucial dress rehearsal of launch day conditions set for Feb. 2.

“America’s mission to the Moon won’t end with a handful of landings,” Isaacman said on X. ”We will undertake repeatable and affordable missions that expand our presence across the lunar surface, fulfilling a 35-year promise to the American taxpayer.”

Tyler Durden Sun, 02/01/2026 - 18:40

Isaacman: NASA Aims To Build 'Martian Outpost' On Mars With Nuclear Propulsion

Authored by T.J. Muscaro via The Epoch Times (emphasis ours),

NASA Administrator Jared Isaacman announced his agency’s commitment to developing a nuclear propulsion system for missions to Mars within the next three years.

NASA Administrator Jared Isaacman (L) speaks at a press conference at Kennedy Space Center, Florida, on Jan. 17, 2026. (T.J. Muscaro/The Epoch Times).

“Before the end of @POTUS‘ term, @NASA will lay the foundation of a ’transcontinental railroad' to Mars,” Isaacman wrote on X on Jan. 30. “By utilizing nuclear electric propulsion, our nation will have the tools necessary to establish a Martian outpost and maintain American superiority in deep space.”

The administrator shared a clip from a Jan. 30 appearance on Fox News in which he explained that while NASA continues its work to put boots back on the moon, it will also launch its first nuclear power and propulsion rocket by the end of President Donald Trump’s term.

“That’s going to essentially almost establish the transcontinental railroad to Mars,” he said. “It’s how you efficiently move lots of mass to Mars. So it’s not necessarily always the fastest way to get there, but it gives you the tools to build out potentially a Martian outpost, certainly to mine and refine propellant on Mars, which is what you’re going to need to bring your astronauts back home.”

He explained that America would have the capability to send astronauts to Mars, but the hard part was bringing them back. Nuclear power and propulsion solved that problem.

Meanwhile, Isaacman reaffirmed that the Artemis program would continue to push forward the goal of the president’s national space policy to not just land humans back on the moon, but to construct a lunar base in order to stay and fulfill its scientific, economic, and strategic potential.

That base, he said, will involve a nuclear power plant, as well as mining operations, and refining Helium 3, which is considered to be the best fuel for nuclear fusion reactors, and plan to do it before communist China’s plan to do so by 2030.

“The Chinese said they’re going to do it,” Isaacman said of a nuclear reactor on the moon, “We’re going to do it first.”

But all of these plans still start with the mission whose rocket stands at Launch Complex 39-B at Kennedy Space Center in Florida: Artemis II. That 10-day mission, which will carry humans around the moon for the first time since Apollo 17 in 1972, and could do so as early as Feb. 8, awaits the results of a crucial dress rehearsal of launch day conditions set for Feb. 2.

“America’s mission to the Moon won’t end with a handful of landings,” Isaacman said on X. ”We will undertake repeatable and affordable missions that expand our presence across the lunar surface, fulfilling a 35-year promise to the American taxpayer.”

Tyler Durden Sun, 02/01/2026 - 18:40

How Easy Is It To Open A Daycare In Minnesota?

Authored by Jacki Thrapp via The Epoch Times (emphasis ours),

Minnesota is facing heavy scrutiny after the Trump administration accused bad actors in the state of exploiting federal funds from child-focused programs for personal gain.

The Minneapolis skyline, on Jan. 11, 2026. John Fredricks/The Epoch Times

Attorney General Pam Bondi announced on Dec. 29, 2025, that 98 people—85 of Somali descent— were indicted in welfare fraud cases in the state.

Minnesota was home to the “largest COVID-19 fraud case” in America, as 78 defendants—72 of Somalian descent—were accused of pocketing $300 million to $400 million dollars of “Feeding Our Future” funds that were supposed to provide children free meals during the pandemic.

Abdiaziz Shafii Farah, the mastermind behind the “Feeding Our Future” scandal, was sentenced to 28 years in prison in August.

The Trump administration last month announced it would freeze $185 million in federal funds to Minnesota until the scandal-plagued state could prove that the money was being used properly.

Even though federal funds have temporarily dried up in the Land of 10,000 Lakes, prospective child care providers are still able to obtain child care licenses.

The Epoch Times investigated how to open a day care in Minnesota, with a focus on the Twin Cities, Minneapolis and Saint Paul, which have the highest concentration of Somali residents in the United States.

Licensing Applications

The State of Minnesota’s Department of Children, Youth, and Families manages licensing applications for child care centers and charges a nonrefundable fee of $500 to apply. Prospective small business owners can receive a license in approximately three to six months.

Aspiring providers have two routes to obtain a license: open a child care center or provide services at their own home.

An in-home day care license is hundreds of dollars cheaper and requires potential providers to go through their local county for a small fee. Some may even be eligible to receive a grant of $2,000 for startup costs.

Aspiring child care providers seeking licensure in Hennepin and Ramsey counties, which oversee applications in Minneapolis and St. Paul, have to pay a nonrefundable $50 application fee.

Before an application can be submitted, future business owners must first attend an orientation.

Ramsey County requires in-person orientation, which is offered once a month, whileHennepin County allows people to take a 30-minute online orientation and submit their application immediately. Hennepin County’s online orientation can be completed in four separate languages: Somali, Spanish, English and Hmong.

The orientation presentation  explains the “many benefits” provided to licensed providers, including food programs, eligibility for loans and grants, and small business tax benefits.At the end of the orientation, the county provides an email address to request the six-page Family Child Care Application Form. The document, which is not available to download, asks a series of questions relating to the applicant, which will be used to help conduct a background check.

Children watch television at ABC Learning Center in Minneapolis, Minn., on Dec. 31, 2025. AP Photo/Mark Vancleave Background Check

Hennepin County charges $49.10 for a background check per provider.

The background check form requires  applicants to list specific information about their living situation, such as who could be around children under their care, and add references.

The check does a deep dive into a person’s entire criminal record, which includes a juvenile record for people under the age of 28.

Additional checks include where the person has lived in the past five years and if they’ve received government benefits.

Training

Licensed providers must attend several hours of mandatory training before they are granted their license, according to requirements by the Minnesota Department of Children, Youth, and Families.

The mandatory training includes a six-hour course titled “Supervising for Safety for Family Child Care” and a four-hour course on child development and learning and behavior guidance. Other required training includes “Pediatric First Aid & Pediatric Cardiopulmonary Resuscitation,” “Reducing the Risk of Sudden Unexpected Infant Death,” “Reducing the Risk of Abusive Head Trauma,” and “Basic Education for Safe Travel” if transportation will be provided.

The classes are offered by the state and amount to $219 total, although some of the courses are free.

Additional adult caregivers must go through the same training, but people who identify as a “helper” are not required to do so.

Other courses are offered for providers who plan to take care of infants and children under school age.

Processing and Approval

The processing period can take up to half a year, depending on how many applications are going through the system and if an applicant makes mistakes on initial forms.

The Epoch Times contacted Hennepin County for information on how many applications were denied in 2025 and did not hear back by the time this report was published.

Once approved, the licensed provider attends a small group meeting on how to “prepare your home and begin your child care business,” including requirements for space, sleeping, equipment, and safety.

Grants

Minnesota offers training for providers seeking child care assistance funds and lets people apply through the state’s Provider Hub.

A licensed provider in Minnesota has access to the Provider Hub and is eligible to participate in the Child Care Assistance Program (CCAP), which uses federal funds to help low-income families pay for child care.

CCAP, which has 23,000 children enrolled in Minneapolis, uses federal money from the Child Care and Development Fund.

Child care providers apply for smaller grants, provided by the state, using the Child Care Aware Grants Program, which gives up to $1,000 for family child care and $2,500 to centers.

Applications for regional grants open once a year, but “soon-to-be licensed” providers can also apply for startup grants of up to $2,000 for family child care and $3,000 for child care centers.

Students from Little Scholars in New York City, on Dec. 11, 2025. Michael M. Santiago/Getty Images Funding Freeze

Due to widespread fraud allegations in Minnesota, not all grants are available.

The Trump administration announced on Dec. 30, 2025, that it was freezing child care funding in all 50 states after Minnesota day care centers run by Somali residents became the epicenter of alleged fraud scandals.

The freeze impacts the Child Care and Development Fund, Temporary Assistance for Needy Families, the Head Start program, and refugee assistance programs.

In 2025, the federal government provided nearly $2.4 billion to the Child Care and Development Fund, $7.35 billion to Temporary Assistance for Needy Families, and $869 million the Social Services Block Grant.

Minnesota received 7.7 percent ($184.9 million) of the money allocated to the Child Care and Development fund in 2025, according to data provided by the Office of the Administration for Children and Families.

The state received 3.5 percent ($262 million) of the funds from Temporary Assistance for Needy Families in 2025, according to the state’s budget.

“Funds will be released only when states prove they are being spent legitimately,” Health and Human Services (HHS) Deputy Secretary Jim O’Neill said during the announcement.

Controversies

Minnesota and its Somali population has received heavy criticism after allegations of widespread fraud surfaced in the state.

YouTuber Nick Shirley went viral after posting a video which featured a series of Somali-run day cares, seemingly empty, despite receiving federal funding.

The Epoch Times confirmed that Quality Learning Center, which was featured in Shirley’s video, closed shortly after a viral video showed its sign misspelled Learning as “Learing.”

The scandals led Minnesota Gov. Tim Walz to drop out of his bid for reelection on Jan. 5, even though he blamed the alleged fraud on “an organized group of criminals,” as opposed to the state’s oversight.

“Every minute I spend defending my own political interest would be a minute I can’t spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who prey on our differences,” Walz wrote in his announcement that ended his bid for a third term as governor.

Tyler Durden Sun, 02/01/2026 - 17:30

How Easy Is It To Open A Daycare In Minnesota?

Authored by Jacki Thrapp via The Epoch Times (emphasis ours),

Minnesota is facing heavy scrutiny after the Trump administration accused bad actors in the state of exploiting federal funds from child-focused programs for personal gain.

The Minneapolis skyline, on Jan. 11, 2026. John Fredricks/The Epoch Times

Attorney General Pam Bondi announced on Dec. 29, 2025, that 98 people—85 of Somali descent— were indicted in welfare fraud cases in the state.

Minnesota was home to the “largest COVID-19 fraud case” in America, as 78 defendants—72 of Somalian descent—were accused of pocketing $300 million to $400 million dollars of “Feeding Our Future” funds that were supposed to provide children free meals during the pandemic.

Abdiaziz Shafii Farah, the mastermind behind the “Feeding Our Future” scandal, was sentenced to 28 years in prison in August.

The Trump administration last month announced it would freeze $185 million in federal funds to Minnesota until the scandal-plagued state could prove that the money was being used properly.

Even though federal funds have temporarily dried up in the Land of 10,000 Lakes, prospective child care providers are still able to obtain child care licenses.

The Epoch Times investigated how to open a day care in Minnesota, with a focus on the Twin Cities, Minneapolis and Saint Paul, which have the highest concentration of Somali residents in the United States.

Licensing Applications

The State of Minnesota’s Department of Children, Youth, and Families manages licensing applications for child care centers and charges a nonrefundable fee of $500 to apply. Prospective small business owners can receive a license in approximately three to six months.

Aspiring providers have two routes to obtain a license: open a child care center or provide services at their own home.

An in-home day care license is hundreds of dollars cheaper and requires potential providers to go through their local county for a small fee. Some may even be eligible to receive a grant of $2,000 for startup costs.

Aspiring child care providers seeking licensure in Hennepin and Ramsey counties, which oversee applications in Minneapolis and St. Paul, have to pay a nonrefundable $50 application fee.

Before an application can be submitted, future business owners must first attend an orientation.

Ramsey County requires in-person orientation, which is offered once a month, whileHennepin County allows people to take a 30-minute online orientation and submit their application immediately. Hennepin County’s online orientation can be completed in four separate languages: Somali, Spanish, English and Hmong.

The orientation presentation  explains the “many benefits” provided to licensed providers, including food programs, eligibility for loans and grants, and small business tax benefits.At the end of the orientation, the county provides an email address to request the six-page Family Child Care Application Form. The document, which is not available to download, asks a series of questions relating to the applicant, which will be used to help conduct a background check.

Children watch television at ABC Learning Center in Minneapolis, Minn., on Dec. 31, 2025. AP Photo/Mark Vancleave Background Check

Hennepin County charges $49.10 for a background check per provider.

The background check form requires  applicants to list specific information about their living situation, such as who could be around children under their care, and add references.

The check does a deep dive into a person’s entire criminal record, which includes a juvenile record for people under the age of 28.

Additional checks include where the person has lived in the past five years and if they’ve received government benefits.

Training

Licensed providers must attend several hours of mandatory training before they are granted their license, according to requirements by the Minnesota Department of Children, Youth, and Families.

The mandatory training includes a six-hour course titled “Supervising for Safety for Family Child Care” and a four-hour course on child development and learning and behavior guidance. Other required training includes “Pediatric First Aid & Pediatric Cardiopulmonary Resuscitation,” “Reducing the Risk of Sudden Unexpected Infant Death,” “Reducing the Risk of Abusive Head Trauma,” and “Basic Education for Safe Travel” if transportation will be provided.

The classes are offered by the state and amount to $219 total, although some of the courses are free.

Additional adult caregivers must go through the same training, but people who identify as a “helper” are not required to do so.

Other courses are offered for providers who plan to take care of infants and children under school age.

Processing and Approval

The processing period can take up to half a year, depending on how many applications are going through the system and if an applicant makes mistakes on initial forms.

The Epoch Times contacted Hennepin County for information on how many applications were denied in 2025 and did not hear back by the time this report was published.

Once approved, the licensed provider attends a small group meeting on how to “prepare your home and begin your child care business,” including requirements for space, sleeping, equipment, and safety.

Grants

Minnesota offers training for providers seeking child care assistance funds and lets people apply through the state’s Provider Hub.

A licensed provider in Minnesota has access to the Provider Hub and is eligible to participate in the Child Care Assistance Program (CCAP), which uses federal funds to help low-income families pay for child care.

CCAP, which has 23,000 children enrolled in Minneapolis, uses federal money from the Child Care and Development Fund.

Child care providers apply for smaller grants, provided by the state, using the Child Care Aware Grants Program, which gives up to $1,000 for family child care and $2,500 to centers.

Applications for regional grants open once a year, but “soon-to-be licensed” providers can also apply for startup grants of up to $2,000 for family child care and $3,000 for child care centers.

Students from Little Scholars in New York City, on Dec. 11, 2025. Michael M. Santiago/Getty Images Funding Freeze

Due to widespread fraud allegations in Minnesota, not all grants are available.

The Trump administration announced on Dec. 30, 2025, that it was freezing child care funding in all 50 states after Minnesota day care centers run by Somali residents became the epicenter of alleged fraud scandals.

The freeze impacts the Child Care and Development Fund, Temporary Assistance for Needy Families, the Head Start program, and refugee assistance programs.

In 2025, the federal government provided nearly $2.4 billion to the Child Care and Development Fund, $7.35 billion to Temporary Assistance for Needy Families, and $869 million the Social Services Block Grant.

Minnesota received 7.7 percent ($184.9 million) of the money allocated to the Child Care and Development fund in 2025, according to data provided by the Office of the Administration for Children and Families.

The state received 3.5 percent ($262 million) of the funds from Temporary Assistance for Needy Families in 2025, according to the state’s budget.

“Funds will be released only when states prove they are being spent legitimately,” Health and Human Services (HHS) Deputy Secretary Jim O’Neill said during the announcement.

Controversies

Minnesota and its Somali population has received heavy criticism after allegations of widespread fraud surfaced in the state.

YouTuber Nick Shirley went viral after posting a video which featured a series of Somali-run day cares, seemingly empty, despite receiving federal funding.

The Epoch Times confirmed that Quality Learning Center, which was featured in Shirley’s video, closed shortly after a viral video showed its sign misspelled Learning as “Learing.”

The scandals led Minnesota Gov. Tim Walz to drop out of his bid for reelection on Jan. 5, even though he blamed the alleged fraud on “an organized group of criminals,” as opposed to the state’s oversight.

“Every minute I spend defending my own political interest would be a minute I can’t spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who prey on our differences,” Walz wrote in his announcement that ended his bid for a third term as governor.

Tyler Durden Sun, 02/01/2026 - 17:30

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.