Stanford Study Proves Covid-19 Was Overhyped. “Death Rate Is Likely Under 0.2%”

Posted on May 8, 2020 by Reid Mukai

By Tony Cartalucci

MIT Tech Review’s hyped coverage of the Covid-19 outbreak is led by the tag-line, “Navigating a world reshaped by Covid-19.”

Their articles reflect an eager embracement of the public hysteria prompted by Covid-19’s spread, the socioeconomic paralysis it has created, and the many profitable solutions – particularly those involving technology – proposed to “shape” the world post-Covid-19.

It should come as no surprise that a corporate-influenced outlet hiding behind academia and technology would take issue with anyone casting doubt on just how warranted all of this hysteria really is or isn’t – going as far as labeling them “pandemic skeptics.”

This is particularly the case when MIT Tech Review covered the work of researchers at Stanford University who found a much larger number of people are infected with Covid-19 than reported – meaning that the death rate is much, much lower than we’ve been told.

In fact, MIT Tech Review had to admit that the actual death rate is likely under 0.2%, which means its is about as “dangerous” as the common flu. If the common flu isn’t “reshaping the world,” Covid-19 certainly isn’t – at least not the pathogen itself.

An Oblique Smear

Instead of acknowledging the work of Stanford University as an important advancement in our understanding of Covid-19 and a check against public hysteria – MIT Tech Review peppered their article with oblique smears against the team who carried out the study.

The headline includes the subtitle (emphasis added), “A study from a noted pandemic skeptic suggests the virus is more widespread but less deadly than people think.”

We know that the suffix “-skeptic” is added to undermine the credibility of people who call into question widely promoted narratives. The article also uses the term “data skeptic” to describe John Ioannidis who helped carry out the study.

MIT Tech Review continued by adding:

Ioannidis, a Stanford medical statistician and a coauthor of the new report, made waves in March by suggesting the virus could be less deadly than people think, and that destroying the economy in the effort to fight it could be a “fiasco.”

Ioannidis’ statement regarding Covid-19 – even without the results of this study – is already self-evident even if looking only at available and limited statistics regarding Covid-19 infections versus deaths and the demographics hit hardest.

But Stanford’s findings not only bolster Ioannidis’ statement – the findings were predictable.

An RT article titled, “How likely are you (yes, you) to die from the Covid-19 virus?,” published over a month ago predicted (emphasis added):

When the worst of the crisis is over, the real overall death rate will potentially be significantly lower than the reported one — since many people will contract the virus but remain asymptomatic or display only mild symptoms and will never get tested at all.

Indeed, Jeremy Samuel Faust, a physician at Brigham and Women’s Hospital wrote in Slate that the frightening death rates are “unlikely to hold” as time goes on and that the true fatality rate is “likely to be far lower than current reports suggest.”

Stanford’s study confirms this. And it makes sense. Infection and death rates can only be determined by actually testing people – and the narrative the world has been presented is that not enough testing can be done because of a lack of testing kits, and those being tested are people who are already ill and showing symptoms.

Obviously if many more people have little to no symptoms and aren’t being tested – they also aren’t making it into Covid-19 infection statistics and thus “death rates” are artificially high because of this. If many more people are getting the virus and not dying, the death rate obviously goes down – in this case – drastically so.

The Guardian in an article titled, “Antibody study suggests coronavirus is far more widespread than previously thought,” would report:

The study from Stanford University, which was released Friday and has yet to be peer reviewed, tested samples from 3,330 people in Santa Clara county and found the virus was 50 to 85 times more common than official figures indicated.

The article would also reluctantly note that (emphasis added):

That also means coronavirus is potentially much less deadly to the overall population than initially thought. As of Tuesday, the US’s coronavirus death rate was 4.1% and Stanford researchers said their findings show a death rate of just 0.12% to 0.2%.

MIT Tech Review is based out of the prestigious Massachusetts Institute of Technology – the university the magazine is named after. Why – instead of an oblique smear against the Stanford team who carried out the study – didn’t MIT go out into their local community and carry out a similar study to compare results?

Isn’t that what real scientists are supposed to do?

MIT Tech Review closes its article on the study by reasserting a narrative meant to stoke panic and allow the publication to continue on with its “a world reshaped” theme, claiming:

Overall, there are more than 30,000 covid-19 deaths in the US, more than in any other country, so it’s hard to find good news in the blood surveys even if you are looking for it. If the Santa Clara study is accurate and the death rate is lower than many think, covid-19 is still going to lead to a shocking accumulation of bodies if it moves through the rest of the population, which explains the extraordinary stay-at-home measures in place in most of the country since March.

If 30,000 have died in the US because of Covid-19 since the virus appeared in December, that means another 30,000 would need to die this month and next in order for it to even match a moderate to severe annual flu season which runs from December to May.

So – no – there is not going to be a “shocking accumulation of bodies” unless Covid-19 deaths are presented to the public by the media out of context deliberately to shock uninformed audiences. And thus – obviously – it does not “explain the extraordinary stay-at-home measures in place in most of the country since March” or the hysteria promoted by MIT Tech Review in its other Covid-19 articles.

Studies will continue to emerge proving what many have already known – that Covid-19 the pathogen is nowhere near the threat we were told and nowhere near justifying “Covid-19 the hysteria.” Society is in the crosshairs for transformative policies enacted by the very interests who hyped the outbreak in contradiction to scientific fact, not because of it.

It is important to expose this and more importantly to resist it. It is also important to ensure that the governments, politicians, “experts,” institutions, and corporations that were involved in hyping Covid-19 and all the socioeconomic damage it has done never be allowed to do so again.

Orwellian Lockstep and a Loaded Syringe

Posted on May 7, 2020 by Reid Mukai

By Colin Todhunter

Source: Dissident Voice

Some years ago, the then vice-president of Monsanto Robert T Fraley asked, “Why do people doubt science”. He posed the question partly because he had difficulty in believing that some people had valid concerns about the use of genetically modified organisms (GMOs) in agriculture.

Critics were questioning the science behind GM technology and the impacts of GMOs because they could see how science is used, corrupted and manipulated by powerful corporations to serve their own ends. And it was also because they regard these conglomerates as largely unaccountable and unregulated.

We need look no further than the current coronavirus issue to understand how vested interests are set to profit by spinning the crisis a certain way and how questionable science is being used to pursue policies that are essentially illogical or ‘unscientific’. Politicians refer to ‘science’ and expect the public to defer to the authority of science without questioning the legitimacy of scientific modelling or data.

Although this legitimacy is being questioned on various levels, arguments challenging the official line are being sidelined. Governments, the police and the corporate media have become the arbiters of truth even if ‘the truth’ does not correspond with expert opinion or rational thought which challenges the mainstream narrative.

For instance, testing for coronavirus could be flawed (producing a majority of ‘false positives’) and the processes involved in determining death rates could be inflating the numbers: for example, dying ‘with’ coronavirus’ is different to dying ‘due to’ coronavirus: a serious distinction given that up to 98 per cent of people (according to official sources) who may be dying with it have at least one serious life-threatening condition. Moreover, the case-fatality ratio could be so low as to make the lockdown response appear wholly disproportionate. Yet we are asked to accept statistics at face value – and by implication, the policies based on them.

Indeed, documentary maker and author David Cayley addresses this last point by saying that modern society is hyper-scientific but radically unscientific as it has no standard against which it can measure or assess what it has done: that we must at all costs ‘save lives’ is not questioned, but this makes it very easy to start a stampede. Making an entire country go home and stay home has immense, incalculable costs in terms of well-being and livelihoods. Cayley argues that this itself has created a pervasive sense of panic and crisis and is largely a result of the measures taken against the pandemic and not of the pandemic itself.

He argues that the declaration by the World Health Organization that a pandemic (at the time based on a suspected 150 deaths globally) was now officially in progress did not change anyone’s health status, but it dramatically changed the public atmosphere. Moreover, the measures mandated have involved a remarkable curtailing of civil liberty.

One of the hallmarks of the current situation, he stresses, is that some think that ‘science’ knows more than it does and therefore they – especially politicians – know more than they do. Although certain epidemiologists may say frankly that there is very little sturdy evidence to base policies on, this has not prevented politicians from acting as if everything they say or do is based on solid science.

The current paradigm – with its rhetoric of physical distancing, flattening the curve and saving lives – could be difficult to escape from. Cayley says either we call it off soon and face the possibility that it was all misguided (referring to the policies adopted in Sweden to make his point), or we extend it and create harms that may be worse than the casualties we may have averted.

The lockdown may not be merited if we were to genuinely adopt a knowledge-based approach. For instance, if we look at early projections by Neil Ferguson of Imperial College in the UK, he had grossly overstated the number of possible deaths resulting from the coronavirus and has now backtracked substantially. Ferguson has a chequered track record, which led UK newspaper The Telegraph to run a piece entitled ‘How accurate was the science that led to lockdown?’ The article outlines Ferguson’s previous flawed predictions about infectious diseases and a number of experts raise serious questions about the modelling that led to lockdown in the UK.

It is worth noting that the lockdown policies we now see are remarkably similar to the disturbing Orwellian ‘Lock Step’ future scenario that was set out in 2010 by the Rockefeller Foundation report ‘Scenarios for the Future of Technology and International Development’. The report foresaw a future situation where freedoms are curtailed and draconian high-tech surveillance measures are rolled out under the ongoing pretexts of impending pandemics. Is this the type of technology use we can expect to see as hundreds of millions are marginalized and pushed into joblessness?

Instead of encouraging more diverse, informed and objective opinions in the mainstream, we too often see money and power forcing the issue, not least in the form of Bill Gates who tells the world ‘normality’ may not return for another 18 months – until he and his close associates in the pharmaceuticals industry find a vaccine and we are all vaccinated.

US attorney Robert F Kennedy Jr says that top Trump advisor Stephen Fauci has made the reckless choice to fast track vaccines, partially funded by Gates, without critical animal studies. Gates is so worried about the danger of adverse events that he says vaccines shouldn’t be distributed until governments agree to indemnity against lawsuits.

But this should come as little surprise. Kennedy notes that the Gates Foundation and its global vaccine agenda already has much to answer for. For example, Indian doctors blame the Gates Foundation for paralysing 490,000 children. And in 2009, the Gates Foundation funded tests of experimental vaccines, developed by Glaxo Smith Kline (GSK) and Merck, on 23,000 girls. About 1,200 suffered severe side effects and seven died. Indian government investigations charged that Gates-funded researchers committed pervasive ethical violations.

Kennedy adds that in 2010 the Gates Foundation funded a trial of GSK’s experimental malaria vaccine, killing 151 African infants and causing serious adverse effects to 1,048 of the 5,949 children. In 2002, Gates’ operatives forcibly vaccinated thousands of African children against meningitis. Approximately 50 of the 500 children vaccinated developed paralysis.

Bill Gates committed $10 billion to the WHO in 2010. In 2014, Kenya’s Catholic Doctors Association accused the WHO of chemically sterilising millions of unwilling Kenyan women with a ‘tetanus’ vaccine campaign. Independent labs found a sterility formula in every vaccine tested.

Instead of prioritising projects that are proven to curb infectious diseases and improve health — clean water, hygiene, nutrition and economic development — the Gates Foundation spends only about $650 million of its $5 billion budget on these areas.

Despite all of this, Gates appears on prime-time TV news shows in the US and the UK pushing his undemocratic and unaccountable pro-big pharma vaccination and surveillance agendas and is afforded deference by presenters who dare not mention any of what Kennedy outlines. Quite the opposite – he is treated like royalty.

In the meantime, an open Letter from Dr. Sucharit Bhakdi, emeritus professor of medical microbiology at the Johannes Gutenberg University Mainz, to Angela Merkel has called for an urgent reassessment of Germany’s lockdown. Dr Ioannidis, a professor of medicine and professor of epidemiology and population health at Stanford University, argues that we have made such decisions on the basis of unreliable data. In addition, numerous articles have recently appeared online which present the views of dozens of experts who question policies and the data being cited about the coronavirus.

While it is not the intention to dismiss the dangers of Covid-19, responses to those dangers must be proportionate to actual risks. And perspective is everything.

Millions die each year due to unnecessary conflicts, malnutrition and hunger, a range of preventative diseases (often far outweighing the apparent impact of Covid-19), environmental pollution and economic plunder which deprives poor countries of their natural wealth. Neoliberal reforms have pushed millions of farmers and poor people in India and elsewhere to the brink of joblessness and despair, while our food is being contaminated with toxic chemicals and the global ecosystem faces an apocalyptic breakdown.

Much of the above is being driven by an inherently predatory economic system and facilitated by those who now say they want to ‘save lives’ by implementing devastating lockdowns. Yet, for the media and the political class, the public’s attention should not be allowed to dwell on such things.

And that has easily been taken care of.

In the UK, the population is constantly subjected via their TV screens to clap for NHS workers, support the NHS and to stay home and save lives on the basis of questionable data and policies. It’s emotive stuff taking place under a ruling Conservative Party that has cut thousands of hospital beds, frozen staff pay and demonised junior doctors.

As people passively accept the stripping of their fundamental rights, Lionel Shriver, writing in The Spectator, says that the supine capitulation to a de facto police state has been one of the most depressing spectacles he has ever witnessed.

It’s a point of view that will resonate with many.

In the meantime, Bill Gates awaits as the saviour of humanity — with a loaded syringe.

What Are You Gonna Do About It?

Posted on May 1, 2020 by Reid Mukai

By Michael Krieger

Source: Liberty Blitzkrieg

Tucked into the recent recovery bill was a provision granting the Federal Reserve the right to set up a $450 billion bailout plan without following key provisions of the federal open meetings law, including announcing its meetings or keeping most records about them, according to a POLITICO review of the legislation.

The provision further calls into question the transparency and oversight for the biggest bailout law ever passed by Congress. President Donald Trump has indicated he does not plan to comply with another part of the new law intended to boost Congress’ oversight powers of the bailout funds. And earlier this week, Trump dismissed the government official chosen as the chief watchdog for the stimulus package.

The changes at the central bank – which appear to have been inserted into the 880-page bill by sympathetic senators during the scramble to get it approved — would address a complaint that the Fed faced during the 2008 financial crisis, when board members couldn’t easily hold group conversations to address the fast-moving economic turmoil.

The provision dispenses with a longstanding accountability rule that the board has to give at least one day’s notice before holding a meeting. Experts say the change could lead to key information about the $450 billion bailout fund, such as which firms might benefit from the program, remaining inaccessible long after the bailout is over.

The new law would absolve the board of the requirement to keep minutes to closed-door meetings as it deliberates on how to set up the $450 billion loan program. That would severely limit the amount of information potentially available to the public on what influenced the board’s decision-making. The board would only have to keep a record of its votes, though they wouldn’t have to be made public during the coronavirus crisis.

A Fed spokesperson did not comment on the changes in the law or whether the Fed would continue keeping records of its meetings.

– Politico: Recovery Law Allows Fed to Rope off Public as It Spends Billions

An era can be said to end when its basic illusions are exhausted.

– Arthur Miller

Before going any further, I want to share a graphic that accurately summarizes my position on the current pandemic affecting the world.

Unfortunately, it’s quite common for many to latch on to one of these conclusions and singularly obsess about it to the detriment of the others, when we need to be thinking about all three simultaneously.

It’s absolutely critical we understand governments throughout the world are rapidly mobilizing to use the crisis as an excuse to extract more wealth from society and condition the public to relinquish more precious civil liberties. The response in my own imperial oligarchy masquerading as a country has been particularly grotesque. A government that told us masks don’t work and couldn’t roll out testing for weeks, is now responding with the worst of both post-9/11 and post-financial crisis responses. The idea of representative government or democracy in America is a complete myth. The interests and desires of the people are irrelevant, and our economic system can be best described as financial feudalism.

We’ve seen this movie before. The U.S. government and Federal Reserve used major crises to consolidate wealth and power twice before this century, and it’s happening again. They got away with it before — and they’re getting away with it now — because the public accepts it. I hate to write that, but it’s true. People will tell me the public has no way to fight back, but that’s not accurate. The public hasn’t even tried historical methods like mass strikes and boycotts, instead they’ve been successfully neutered by phony red/blue team mainstream politics, through bickering about marginal issues like pronouns and bathrooms, and by endless entertainment and debt-based consumption. This is why the oligarchy keeps winning. Americans aren’t a serious people yet.

Witnessing the massive theft and power consolidation during the financial crisis a decade ago shook me to my core. I learned so much about how the world really works I simply couldn’t go on in the same way, so I quit my finance job and moved out of NYC. I was convinced such in your face theft would lead to effective popular movements and that the people would discover their power and take direct action, but I was wrong. Rather than economic populism transcending other differences to become ascendant and potent, most Americans were successfully shoved back into convenient political boxes easily managed by oligarchy. The rest is history.

For the past four decades, Americans have accepted that they’re mere spectators to the world around them. They’ve relinquished all agency and power that can have real impact.

I expect this to change as more people realize voting does nothing, and thus begin to take direct action

— Michael Krieger (@LibertyBlitz) April 7, 2020

Is the above wishful thinking? It might be. I had similar thoughts a decade ago and nothing truly meaningful happened. That said, I’ve learned some valuable life lessons over the past decade and will share some of them today.

The title of today’s piece is “what are you gonna do about it?”, but let me start by telling you what I’m not going to do. I am not going to vote in the 2020 presidential election. In previous cycles, I went out and voted third party as a protest, but I won’t even do that this time. I refuse to give such a farcical system the satisfaction of even a protest vote. I’m over it. Done.

I think the best outcome for the 2020 presidential election would be the lowest voter turnout ever.

Don't let anyone who wins think they have a mandate.

— Michael Krieger (@LibertyBlitz) April 13, 2020

Choosing to refrain from participation in a clearly rigged and sham presidential election process may feel like giving up, but it’s the exact opposite. It’s actually quite liberating to give up on the fantasy that voting for one of two sociopaths will materially improve your life or the direction of the country. Once you stop believing in the lazy fairytale version of politics you can get down to real action. If you accept that voting is largely a charade, you can either sit back and take it while playing video games, or you can get motivated. I see two avenues for action that can actually change things.

The first consists of mass organized movements that unite as many disparate factions as possible to focus on a single issue. This can take the form of a workers strike, a targeted boycott or something similar. The key thing that’s prevented this from happening is Americans have been so successfully divided and conquered. “Activist leaders” often demand those who constitute a movement see eye to eye on virtually everything, yet oligarchy knows to unite whenever their core interests are even slightly threatened. A hopelessly splintered public is one reason the people always lose.

We need to pick one particularly pernicious company and focus on it. Not because one company will change things, but because pressure on it can demonstrate the power of the public.

— Michael Krieger (@LibertyBlitz) March 25, 2020

Although I’m confident in the success of such a strategy if implemented by enough people, this doesn’t mean it will materialize. I was hopeful it could happen last decade, but it never did. Americans proved to be as divided, conquered and distracted as ever, and it’s possible things will continue along this path in the years ahead. As such, waiting for mass movements that may never occur to materialize is not a sufficient strategy. You need a primary strategy, and that strategy starts with you.

The only thing you truly have control over is your mindset and your actions. Think about what angers you most about the system as it stands and turn that anger into something productive. What can you do as an individual to protest or reject that system? What can you do to become more resilient? Can you repurpose your skillset or profession in a way where you become more of a solution than part of the problem? Some of us can do more than others, but virtually everyone can take some action. If you can’t think of anything, think harder.

I'm glad Satoshi invented Bitcoin instead of trying to change the world through politics.

— Stephen Cole (@sthenc) April 13, 2020

Reflecting on the past decade, every moment I spent taking control of my life and improving as an individual was worthwhile and rewarding, while every moment I spent hoping others around me would change was a gigantic disappointment.

This doesn’t mean we should give up on mass movements, it means you cannot rely on other people to get to the point you’re at as quickly as you’d like. Think about what’s actually in your control and go for it. And good luck.

Weimar America, Here We Come! Virus Hysteria Adds $10 Trillion to the National Debt

Posted on April 30, 2020 by Reid Mukai

By Mike Whitney

Source: The Unz Review

There’s no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There’s also no doubt that ‘virus hysteria’ has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took less than a week to get the pushover congress to ram through a massive $2.2 trillion boondoggle without even one lousy congressman offering a peep of protest. That’s got to be some kind of record.

In 2008, at the peak of the financial crisis, Congress voted “No” to the $700 billion TARP bill. Some readers might recall how a number of GOP congressmen bravely banded together and flipped Wall Street “the bird”. That didn’t happen this time around. Even though the bill is three times bigger than the TARP ( $2.2 trillion), no one lifted a finger to stop it. Why?

Fear, that’s why. Everyone in congress was scared to death that if they didn’t rush this debt-turd through the House pronto, the economy would collapse while tens of thousands of corpses would be stacking up in cities across the country. Of course the reason they believed this nonsense was because the goofy infectious disease experts confidently assured everyone that the body-count would be “in the hundreds of thousands if not millions.” Remember that fiction? The most recent estimate is somewhere in the neighborhood of 60,000 total. I don’t need to tell you that the difference between 60,000 and “millions” is a little more than a rounding-error.

So we’ve had the wool pulled over our eyes, right? Not as bad as congress, but, all the same, we’ve been hoodwinked and we’ve been fleeced. And the people who have axes to grind have been very successful in taking advantage of the hysteria and promoting their own agendas. Maybe you’ve noticed the reemergence of creepy Bill Gates and the Vaccine Gestapo or NWO Henry Kissinger warning us that, “the world will never be the same after the coronavirus”.

What do these people know that we don’t know? Doesn’t it all make you a bit suspicious? And when you see nonstop commercials on TV telling you to “wash your hands”or “keep your distance” or “stay inside” and, oh yeah, “We’re all in this together”, doesn’t it leave you scratching your head and wondering who the hell is orchestrating this virus-charade and what do they really have in mind for us unwashed masses??

At least in the case of Wall Street, we know what they want. They want money and lots of it.

Have you looked over the $2.2 trillion CARES bill that Trump just signed into law a couple weeks ago? It’s pretty grim reading, so I’ll save you the effort. Here’s a rough breakdown:

$250 billion will go for the $1,200 checks that most of us will receive in a couple weeks. And $250 billion will be provided for extended unemployment insurance benefits.

That’s $500 billion.

Working people will get $500 billion while Wall Street and Corporate America will get 3 times that amount. ($1.7 trillion) And even that’s a mere fraction of the total sum because– hidden in the small print– is a section that allows the Fed to lever-up the base-capital by 10-to-1 ($450 billion to $4.5 trillion) which means the Fed can buy as many “toxic” bonds and garbage assets as it chooses. The Fed is turning itself into a hedge fund in order to buy the sludge that has accumulated on the balance sheets of corporations and financial institutions for the last decade. It’s another gigantic ripoff that’s being cleverly concealed behind the ridiculous coronavirus hype. It’s infuriating.

So here’s the question: Do you think Congress knew that working people would only get a pittance while the bulk of the dough would go to Wall Street?

It’s hard to say, but they certainly knew that the economy was cratering and that $500 billion wasn’t going to put much of a dent in a $20 trillion economy. In other words, even if everyone goes out and blows their measly $1,200 checks on Day 1, we’re still going to experience the sharpest economic contraction on record, a second Great Depression.

Maybe they should have talked about that in congress before they voted for this trillion-dollar turkey? Maybe they should have thought a little more about how the money should be distributed: Should it go to the people who actually buy things, generate activity and produce growth, or to the parasite class that blows up the system every decade and drags the economy down a black hole? That seems like something you might want to know before you pass a multi-trillion dollar bill that’s supposed to fix the economy.

It’s also worth noting that the $5.8 trillion is not nearly the total amount that Wall Street will eventually get. The Fed has already spent $2 trillion via its QE program (to shore up the dysfunctional repo market) and Fed chair Jay Powell announced on Thursday that another $2.3 trillion in loans and purchases would be used to buy municipal bonds, corporate bonds and loans to small businesses. The allocation for small businesses, which falls under the, Main Street Lending Program, has been widely touted as a sign of how much the Fed really cares about struggling Mom and Pop businesses that employ the majority of working Americans. But, once again, it’s a sham and a boondoggle. The program is on-track to get $600 billion funding of which the US Treasury will provide the base-capital of $75 billion. The rest will be levered-up by 9-to-1 by the Fed, which means it’s just more smoke and mirrors.

What readers need to realize is that the Treasury has accepted the credit risk for all of the loans that default. In other words, the American people are now on the hook for 100% of all of the loans that go south, and there’s going to be alot of them because the banks have no reason to find creditworthy borrowers. They get a 5% cut off-the-top whether the loans blow up or not. And, that, my friend, is how you incentivize fraud which, as Bernie Sanders noted, “is Wall Street’s business model.”

It also helps to explain why Trump has repeatedly rejected congressional oversight of the various bailout programs. He’s smart enough to know a good swindle when he sees one, and this one is a corker. The government is essentially waving trillions of dollars right under the noses of the world’s most ravenous hyenas expecting them not to act in character. But of course they will act in character and hundreds of billions of dollars will be siphoned off by scheming sharpies who figure out how game the system and turn the whole fiasco into another Wall Street looting operation. You can bet on it.

So, what is the final tally?

Well, according to Trump’s chief economic advisor, Larry Kudlow, the first bailout installment is $6.2 trillion (after the Fed ramps up the Treasury’s contribution of $450 billion.). Then there’s the $2.3 trillion in additional programs the Fed announced on Thursday. Finally, the Fed’s QE program adds another $2 trillion in bond purchases since September 17, when the repo market went haywire.

Altogether, the total sum amounts to $10.5 trillion.

You know what they say, “A trillion here, a trillion there, pretty soon you’re talking real money.”

Of course, no one on Capitol Hill worries about trivialities like money because, “We’re the United States of America, and our dollar will always be King.” But there’s a fundamental flaw to this type of thinking. Yes, the dollar is the world’s reserve currency, but that’s a privilege that the US has greatly abused over the years, and it’s certainly not going to survive this latest wacky helicopter drop. No, I am not suggesting the US would ever default on its debt, that’s not going to happen. But, yes, I am suggesting that the US will have to repay its debts in a currency that has lost a significant amount of its value. You don’t have to be Einstein to figure out that you can’t willy-nilly print-up $10 or $20 trillion dollars without eroding the value of the currency. That’s a no-brainer. Central bankers around the world are now looking at their piles of USDs thinking, “Hmmm, maybe it’s time I traded some of these greenbacks in for a few yen, euros or even Swiss francs?”

So how does this end? Can the Fed continue to write trillion dollar checks on an account that is already $23 trillion overdrawn? Will Central banks around the world continue to stockpile dollars when the Fed is printing them up faster than anyone can count? And what about China? How long before China realizes that US Treasuries are grossly overvalued, that US equities markets are unreformable, that the dollar is backed by nothing but red ink, and that Wall Street is the biggest and most corrupt cesspit on earth?

Not long, I’d wager. So, how does this end? It ends in a flash of monetary debasement preceded by a violent and destabilizing currency crisis. It’s plain as the nose on your face. The Fed knows that when a nation’s sovereign debt exceeds 100% of GDP, “there’s almost no mathematical way to service that debt in real terms.” Well, the US passed that milestone way-back in 2019 before this latest drunken spending-spree even began. It’s safe to say, we’ve now entered the financial Twilight Zone, the Land of No Return. If we add the Fed’s bulging balance sheet to the final estimate, (after all, it’s just another shady Enron-type Special Purpose Vehicle) the national debt will be somewhere north of $33 trillion by year-end, which means that Uncle Sam will be the greatest credit risk on Planet Earth. Imagine how jaws will drop on the day that Moodys and Fitch slash the ratings on US Treasuries to Triple B “junk” status. That should turn a few heads.

So what can we expect in the months to come?

First, the economy is going to slip into a deflationary period as people get back to work and slowly resume their spending. But once demand picks up and the Fed’s liquidity starts to kick in, the economy will rebound sharply followed by steadily rising prices. That’s the red flag that will signal a weakening dollar. Similar to 1933, when Roosevelt took the U.S. off the gold standard and printed money like crazy, economic activity picked up but the value of the dollar dropped by 40%. A similar scenario seems likely here as well. Economist Lyn Alden Schwartzer summed it up like this in an article at Seeking Alpha:

“One of the common debates is whether all of this debt, counteracted by a tremendous monetary expansion by the Federal Reserve in response, will cause a deflationary bust or an inflationary problem…..Fundamentally, evidence points to a period of deflation due to this global shutdown and demand destruction shock, likely followed in the coming years by rising inflation….

In the coming years, the United States will be effectively printing money to fund large fiscal deficits, while also having a large current account deficit and negative net international investment position. This is one of the main variables for my view that the dollar will likely decrease in value relative to a basket of foreign currencies in the coming years….” (“Why This Is Unlike The Great Depression”, Seeking Alpha)

So, after decades of lethal low interest rates, relentless meddling and gross regulatory malpractice, the Fed has led us to this final, fatal crossroads: Inflate or default. From the looks of things, the choice has already been made. Weimar America, here we come!

The Psychology of the COVID-19 Coup: The Elite, their Victims and those who Resist

Posted on April 29, 2020 by Reid Mukai

By Robert J. Burrowes

As the elite coup against humanity continues to gather pace – see ‘The Elite’s COVID-19 Coup Against a Terrified Humanity: Resisting Powerfully’ – it is invaluable to observe the way in which the dysfunctional and violent psychology of the global elite, including those of its members who have a significant public profile such as Bill Gates, is revealed more starkly.

At the same time, it is interesting to observe the vast number of fearfully submissive people who are willing to accept, or even ask for, greater constraints on our rights, freedom and economic security, ostensibly to ‘protect’ them from a virus. Sadly, too, the fear of these people plays a critical collaborative role in both advancing the elite coup and condemning millions of others to death as the economic consequences of the destruction of the global economy inflicts its devastating impacts on those least able to cope with it.

Clearly complicated by a number of factors, including the locust plagues that have been devastating several countries in Africa, the Middle East and South Asia during early 2020 – see ‘360 Billion Locusts And Growing – A Plague Of “Biblical Proportions” Is Destroying Crops Across The Middle East And Africa’ – but now particularly because of official responses to COVID-19, as World Food Programme (WFP) Executive Director, David Beasley, has recently warned:

If we don’t prepare and act now to secure access, to avoid funding shortfalls and disruptions to trade, we could be facing multiple famines of biblical proportions within a short few months… our analysis shows that 300,000 people could starve to death every single day over a three-month period. See ‘WFP chief warns of “hunger pandemic” as Global Food Crises Report launched’.

That is 27,000,000 people, if arithmetic is not your strong point, that will die of starvation, not COVID-19. And this figure, of course, is quite separate from the phenomenal hardship that millions are already experiencing as a result of the economic dislocation which has created a staggering number of newly unemployed people around the world.

In this article I will do three things. I will briefly explain the dysfunctional psychology of the global elite, using Bill Gates as an example, which explains why they seek vastly greater control over our lives at staggering expense to our rights, freedom and economic security. I will briefly explain why so many people are fearfully submissive victims of this coup, unable to perceive the deeper strands of what is taking place. And I will briefly reiterate what those people in a third category, ranging from those skeptical of the fear-mongering in relation to COVID-19 to those already resisting the lockdowns, curfews, martial law and other serious impositions on our lives, can do to ensure that their resistance has strategic impact.

The Violently Dysfunctional Psychology of the Global Elite

While the world is in turmoil, partly in response to the fear-mongering by WHO, governments, the medical industry and the corporate media that has profoundly inflated people’s fear of COVID-19 but also because of the adverse cascading impacts of the long list of ill-advised decisions, particularly those that impact national economies made to supposedly deal with COVID-19, the primary concern of Bill Gates is that we all submit to vaccination and acquire a ‘digital certificate’ to prove that we have done so. For explanations of Gates’ unsavory motives in promoting and conducting extensive vaccination, see ‘Gates’ Globalist Vaccine Agenda: A Win-Win for Pharma and Mandatory Vaccination’ and ‘Bill Gates and the Depopulation Agenda. Robert F. Kennedy Junior Calls for an Investigation’.

While this has led to substantial resistance on social media, including that Gates be arrested for crimes against humanity – see ‘“Arrest Bill Gates” – Says every Instagrammer on Gates Account’ – it is, in fact, only the most public initiative by a member of the global elite even though it constitutes a key element of how the global elite intends to capture complete control of our lives to create what Whitney Webb describes as a ‘techno tyranny’.

Citing a range of evidence obtained from official but largely ignored organizations, decisions and documents in recent years, Webb thoughtfully describes a frightening view of the techno tyranny that is almost upon us and for which the latest moves are being rapidly implemented under the guise of combating COVID-19. Involving an unsavory alliance of the ‘intelligence’ community, the Pentagon and Silicon Valley, COVID-19 is being used as cover to remove economic and social ‘obstacles’ (including so-called ‘legacy systems’ with which we are all familiar) to implementing the so-called fourth industrial revolution – ‘a revolution characterized by discontinuous technological development in areas like artificial intelligence (AI), big data, fifth-generation telecommunications networking (5G), nanotechnology and biotechnology, robotics, the Internet of Things (IoT), and quantum computing’ – to achieve everything from a cashless society and AI-driven technologies (particularly for mass surveillance and law enforcement) to driverless cars and ‘telemedicine’.

For a sample of the documentation, see ‘Competing With China on Technology and Innovation’, the US National Security Commission on Artificial Intelligence, the ‘Chinese Tech Landscape Overview’, US Attorney General William Barr’s ‘Implementation of National Disruption and Early Engagement Programs to Counter the Threat of Mass Shootings’, the ‘American Artificial Intelligence Initiative: Year One Annual Report’ of the US Office of Science and Technology Policy, and the recent advice by the White House that ‘President Donald J. Trump Announces Great American Economic Revival Industry Groups’. Whitney Webb has written two recent articles – ‘Meet The Companies Poised To Build The Kushner-Backed “Coronavirus Surveillance System”’ and ‘Techno-Tyranny: How The US National Security State Is Using Coronavirus To Fulfill An Orwellian Vision’ – and been interviewed – see ‘Security State using coronavirus to implement Orwellian nightmare’ – that thoughtfully describe what is taking place.

In short, it will leave those of us who are still alive and who haven’t been replaced by robots as little more than digital entities, devoid of rights and freedoms, who are monitored and controlled to serve elite ends. You might still be able to choose what you buy, provided you do it online.

But while you can consider this evidence at your leisure, my own concern in this article is to explain why members of the global elite are so willing to inflict their violence on us, and to exploit us so mercilessly, without even caring. Why does their vision for the world and their effort to create it resemble the works of Aldous Huxley and George Orwell, rather than something that many more of us would consider desirable? Is profit really all that matters? What about people?

In short, the explanation for their behavior is that they are completely insane. But like some other versions of insanity that are also defined as ‘normal’ – essentially because they are so widespread (like over-consumption in industrialized countries) that few think to question whether or not the behavior is actually functional – it is fairly straightforward to explain both the origin and outcomes of their insanity.

At birth, every human child has enormous unique potential. However, to fully realize that potential, the child must be nurtured physically, emotionally, intellectually and in other ways so that their unique potential unfolds. This includes caring for them in their unique physical environment while allowing their natural inclination to learn, an evolutionary gift, to guide the manner and nature of their inquiry.

Unfortunately, however, adult humans do not appreciate and value the innate learning capacities of their children so we ‘teach’ them, in the ways of our choosing (particularly by funneling them all through the one-size-fits-all institution we call ‘school’), what we want them to know instead. Because the child naturally resists this, the child is subjected to an extraordinary range of ‘visible’ and ‘invisible’ violence to force them to conform to societal norms.

Then, using what I have labeled ‘utterly invisible violence’, we ensure that the feelings of fear, sadness, anger and pain (among many others) that this causes are suppressed so that we do not have to deal with the emotional and behavioral consequences of the violence we inflict on the child. This leaves the child with an unconscious legacy of fear, self-hatred and powerlessness that will manifest, depending on the context, throughout the child’s life. For a thorough explanation of this, see ‘Why Violence?’ and ‘Fearless Psychology and Fearful Psychology: Principles and Practice’.

One outcome of being terrorized into submissive obedience throughout childhood is that the human ‘individual’ enters adulthood with no sense of their unique identity but fully comfortable with the socially constructed delusional identity they gradually took on during childhood. Having been terrorized into obedient submission to parents, teachers and religious figures, virtually all people readily take on the role of submissive worker/soldier and citizen fulfilling some fairly meaningless role in a society largely devoid of meaning. Understanding no other way and in a last resort to feel some sense of control over their life, they also then terrorize their own children into being submissively obedient.

And people like Bill Gates are not all that different except that the opportunities provided by their wealth and the privilege that goes with it, enable them to inflict their dysfunctional and violent behaviors on a vastly greater number of people in a fruitless endeavor to feel ‘in control’. And they can do so without attracting the sanctions, legal and otherwise, that might constrain the behaviors of the rest of us.

So, as documented in the articles about Bill Gates cited above, his vaccination programs have wreaked havoc on adults and children throughout the global south, killing or incapacitating substantial numbers of people. This is unsurprising given the historical role of vaccination in precipitating a great many disorders and deaths, by introducing into the body contaminants such as aluminium and glyphosate. See Sayer Ji’s 326 page bibliography with a vast number of references to the literature explaining the exceptional range of shocking dangers from vaccination – see ‘Vaccination’ – or, if you wish to just read straightforward accounts of the history of vaccine damage and the ongoing dangers, see these articles by Gary G. Kohls MD: ‘A Comprehensive List of Vaccine-Associated Toxic Reactions’ and ‘Identifying the Vaccinology-Illiterate among Us’.

But does Bill Gates care about the staggering harm these vaccinations are causing? Does he care that future vaccinations are intended to be used to grotesquely infringe our rights and freedoms with the insertion of biometric data? See ‘COVID-19: Perfect Cover for Mandatory Biometric ID’. What of his love? Compassion? Empathy? Sympathy? Does he have a conscience to call him to account, even if no legal system does? Does he respect people? Does he believe everyone should be given an individual and informed choice about whether or not they are vaccinated?

Tragically, Bill Gates is so psychologically damaged that he is simply devoid of qualities such as these. They were never given the chance to develop by parents who showed him the same lack of love, sympathy, care, respect and consideration. Moreover, because of his fear of being out of control, as he was when endlessly suffering the incredible violence of his parents throughout childhood, he now endlessly seeks control in the highly dysfunctional ways that his unconscious fear projects. That is, by seeking to control us all.

If you want to read more about the psychological dysfunctionality of Bill Gates and other members of the global elite, as well as their agents, and how this always manifests to our detriment, you can do so in articles such as ‘The Global Elite is Insane Revisited’, ‘Love Denied: The Psychology of Materialism, Violence and War’ and ‘Understanding Self-Hatred in World Affairs’.

Sadly, however, it is not just members of the global elite who are psychologically dysfunctional. There is a substantial portion of the human population who have suffered a similar fate, even if it manifests very differently. However, while this dysfunctionality might manifest in an extraordinarily wide variety of ways, it almost invariably includes fearful submission to those considered to be ‘in authority’.

The Dysfunctional Psychology of Victims

Because each human being is unique, the individual is born with a powerful evolutionary gift: Self-will. This means that the individual has an incredible range of tools, including the capacity to apply sensory perception (sight, sound, touch…) to observe what is happening, the emotional capacity to feel what this means (is it satisfying, enjoyable, frightening, infuriating…), to think for themself about the significance of it, to compare and contrast it with relevant memories, to gauge it against one’s conscience and so on until an integrated sense of how to behave in response is formulated and then acted on.

If a person is doing this then we might describe them as ‘Self-aware’. And they are, truly, an individual.

However, because of the experience of childhood terrorization, briefly touched on above, most children are compelled to surrender the essence of these various capacities, and hence their Self-will, by a very young age. In these circumstances, the child becomes a fairly malleable instrument, easily transformed into a victim who is now devoid of the capacity to look deep within themselves to make sound judgments about what is taking place and to behave powerfully in response.

Instead, they simply obey the will of another: parent, teacher, religious figure, employer, political leader…. and act more out of habit than consideration. Given the endless violence (usually labeled ‘punishment’) that is inflicted to ensure that children are obedient to others, rather than allowed to follow their own self-will, it takes an extraordinary child to survive with even a semblance of the potential with which they were born. As a result, most human behavior lacks consideration, conviction, courage and strategy, and is simply driven compulsively by the predominant fear in each context.

For elaboration of this explanation, see ‘The Disintegrated Mind: The Greatest Threat to Human Survival on Earth’ and ‘The Psychology of Victimhood: Obama, Cameron, Netanyahu, Clinton, Kissinger’.

A primary outcome of this childhood terrorization experience in materialist cultures is that the child learns to suppress their awareness of how they feel by using food and material items to distract themself. By doing this, the child rapidly loses their emerging self-awareness and learns to consume as the substitute for this awareness. Clearly, this has catastrophic consequences for the child, their society and for nature (although it is immensely profitable for elites and their agents whose Self-awareness is non-existent). For a fuller explanation, see ‘Love Denied: The Psychology of Materialism, Violence and War’.

In essence, a victim is utterly terrified and powerless. These feelings are unconscious to the victim, which is why they are incapable of intelligently seeking out and personally assessing evidence (such as that in relation to COVID-19 and how it is being used) and they simply submit without protest once told to obey.

An equally important outcome for the victim, is that they have little, if any, capacity to see beyond themselves or their immediate concerns (which might include an activist preoccupation). They are incapable of perceiving and considering the wider ramifications of what is taking place – the ‘big picture’ – such as for those millions of starving people referred to by WFP Executive Director David Beasley above. Any sense of a ‘wider self’, of human solidarity beyond the most superficial kind, is incomprehensible to them.

Making sure our Resistance to this Coup has Strategic Impact

So this is why a third group in relation to this elite coup is so important: Those individuals who are already resisting the coup or those who will soon choose to do so. Clearly, these people have sufficient sense of Self, the intelligence and emotional capacity (including courage) to consider the evidence in relation to COVID-19 and what lies beneath it, and to draw conclusions at variance with those presented by the elite through its international organizations (such as the World Health Organization), governments and corporate media.

And it is to these people that this final section is particularly addressed.

I have previously explained a nonviolent strategy to resist this elite coup against humanity. See ‘The Elite’s COVID-19 Coup Against a Terrified Humanity: Resisting Powerfully’.

This included identifying its political purpose – obviously ‘To defend humanity against a political/military coup conducted by the global elite’ – and setting out a basic list of 26 strategic goals for achieving this purpose. You can read the ‘Strategic goals for defeating a political/military coup conducted by the global elite against humanity’ by scrolling down the page at ‘Strategic Aims’.

Remaining pages on the website fully explain the twelve components of the strategy, as illustrated by the Nonviolent Strategy Wheel, as well as articles and videos explaining all of the vital points of strategy and tactics, such as those to help you understand ‘Nonviolent Action: Why and How it Works’ and how to prepare, frame and conduct any nonviolent action to minimize the risk of violent repression. See ‘Nonviolent Action: Minimizing the Risk of Violent Repression’.

While many of the tactics identified are designed to make it very easy for individuals to be involved, an increasing number of people are already participating in nonviolent actions based on public gatherings to ‘End the Lockdown’ using social media messaging with that or similar labels. See, for example, ‘Protesting the Lockdowns is Getting Going – #endthelockdown’.

Therefore, as more people become aware of the coup and the energy to resist it continues to gather pace, it will be worthwhile to choose a locally significant date on which as many people who are willing to do so act to ‘End the Lockdown’ in your country. Using a locally relevant focus, or perhaps several, for which many people would traditionally be together – a cultural or sporting event, a community activity such as working to establish a community garden to increase local self-reliance, a birthday celebration and/or a return to work – we can mobilize people to collectively resist the coup that is taking place.

Because the actions taken can be dispersed with large numbers of people responding in a vast number of locations, it will be impossible for police and military forces to inflict violent repression against everyone, particularly if local organizers have implemented the points in ‘Nonviolent Action: Minimizing the Risk of Violent Repression’.

Equally importantly to any of the points above, particularly given the pressing threat of human extinction – see ‘Human Extinction Now Imminent and Inevitable? A Report on the State of Planet Earth’ – but also because becoming more self-reliant is vital to our ongoing capacity to resist elite encroachments on our rights, freedom and economic security, consider joining those participating in ‘The Flame Tree Project to Save Life on Earth’. This project also explains how to take full advantage of non-monetary forms of community where goods and services are exchanged directly, without money as a medium of exchange. Money only has value in certain types of economy and these types of economy must be superseded if humans are to survive.

Moreover, given the enormous pressure on children at the moment, as their lives are upended, it would be useful to spend time listening to them. Of course, if you know an adult who is having trouble coping, it will help them enormously as well if you listen while giving them the opportunity to talk about, and focus on feeling, their own emotional reactions to what is taking place. See ‘Nisteling: The Art of Deep Listening’. If you do not have anyone who can listen to you, try ‘Putting Feelings First’.

In addition, because the foundation of this entire elite-controlled world, and the coup it is now implementing, is the submissively obedient individual, the world can only be rebuilt as we might like it if we stop terrorizing children into being submissive. So I would start by parenting and educating children so that they become powerful. See ‘My Promise to Children’ and ‘Do We Want School or Education?’

Finally, as touched on above, apart from the ongoing elite coup the Earth is under siege from our assaults on a vast range of fronts. See ‘Human Extinction Now Imminent and Inevitable? A Report on the State of Planet Earth’. So if we are serious about tackling this crisis too, we must be willing to consider committing to:

The Earth Pledge

Out of love for the Earth and all of its creatures, and my respect for their needs, from this day onwards I pledge that:

I will listen deeply to children (see explanation above)
I will not travel by plane
I will not travel by car
I will not eat meat and fish
I will only eat organically/biodynamically grown food
I will minimize the amount of fresh water I use, including by minimizing my ownership and use of electronic devices
I will not buy rainforest timber
I will not buy or use single-use plastic, such as bags, bottles, containers, cups and straws
I will not use banks, superannuation (pension) funds or insurance companies that provide any service to corporations involved in fossil fuels, nuclear power and/or weapons
I will not accept employment from, or invest in, any organization that supports or participates in the exploitation of fellow human beings or profits from killing and/or destruction of the biosphere
I will not get news from the corporate media (mainstream newspapers, television, radio, Google, Facebook, Twitter…)
I will make the effort to learn a skill, such as food gardening or sewing, that makes me more self-reliant
I will gently encourage my family and friends to consider signing this pledge.

Conclusion

Given that any serious investigation of the circumstances underlying the so-called COVID-19 ‘pandemic’ reveals that the entire global episode has been contrived to further an unsavory elite end, at staggering cost to humans everywhere, it is imperative that those who are capable of perceiving this reality also take action to bring this ongoing coup to an early end.

The longer it takes to muster a full response to defeat this coup, the more damage – to our rights, freedoms, economic security, opportunities, democratic governance, the global economy and the environment – will have been inflicted, making the struggle to restore them vastly more difficult.

More importantly, if human solidarity means anything to you, the lives of millions of people (in the global south) are at stake and the economic security (through lost employment) of millions more.

And these lives, if lost or marginalized, while suiting some elite depopulation agenda, will be a stark but ugly reminder that COVID-19 was never about a virus but about our fear.

Biodata: Robert J. Burrowes has a lifetime commitment to understanding and ending human violence. He has done extensive research since 1966 in an effort to understand why human beings are violent and has been a nonviolent activist since 1981. He is the author of ‘Why Violence?’ His email address is flametree@riseup.net and his website is here.

There’s No Going Back, We Can Only Go Forward

Posted on April 28, 2020 by Reid Mukai

Photo by by Adam Brummett

By Charles Hugh Smith

Source: Of Two Minds

What I see is a global collapse of intangible capital that is invisible to most people.

It’s only natural that the conventional expectation is a return to the pre-pandemic world is just a matter of time. Whether it’s three months or six months or 18 months, “the good old days” will return just as if we turned back the clock.

I think the situation is much more akin to being injured. Since I worked for decades in construction, I’ve had numerous potentially serious injuries, including slipping off roofs, being perched on ladders that fell, my finger sliced open by a steel stud, high winds peeling a heavy sheet of plywood off a stack and sending it flying into me, etc.

Immediately after impact, your first instinct is to assess how badly you’re injured. Of course we all hope we’re not seriously hurt, but the initial adrenaline-fueled relief can be misleading: we might have suffered internal injuries that we can’t feel.

That’s the global situation: we want to assure ourselves the injury is minor and we’ll be back on our feet in no time, but I think the financial-economic injuries are severe and to some branches of global capital and labor, fatal.

Those in power around the world crave one thing above all else: control. If you can’t control the situation and key assets, then what good is your supposed power? If you can’t control the situation and key assets, your power is illusory.

Those in power cannot completely control the forces unleashed by the pandemic. The tide has turned, and everyone trying to return their corner of the world to its pre-pandemic conditions is swimming against the tide–or shoveling sand against the tide, if you prefer that analogy. In either case, they will exhaust themselves and the tide will continue on, regardless of their titanic efforts to print money and maintain control of their populaces.

In my recent book, Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World, I focused on intangible capital, which includes all the forms of capital that cannot be commoditized and purchased for cash like goods and services. Intangible capital includes social capital, social stability, a diverse, resilient local economy and control of one’s own capital.

What I see is a global collapse of intangible capital that is invisible to most people. This includes confidence, trust in institutions and a complacent sense that the tide is carrying us all to greater prosperity.

The tide has reversed, and the key dynamics are income, net worth and costs. As I explained in The New (Forced) Frugality (March 28, 2020), incomes are falling and will continue to fall. Since income is the foundation of asset valuations, asset values will also fall. This will reverse the “wealth effect” that supported the enormous increases in spending and borrowing globally.

When our net worth is rising, we feel wealthier and are more likely to borrow and spend more, confident that our rising wealth will support the debt and higher expenditures. When our assets are declining in value, we feel poorer and are less likely to borrow and spend.

Income is fragile and prone to instant decay, while costs are extremely resistant to declines.

Consider stock valuations: the core driver is profit, which is revenues minus costs. As revenues drop and costs rise, profits vanish literally overnight. That sudden erosion of profits is global, and it will affect companies previously perceived as bulletproof. Facebook and Google depend on advertising, and with the global economy in free-fall, what’s the point in wasting scarce cash on marketing? Essentially no one needs a $1,000 iPhone or a $40,000 Tesla. Aspirational spending is as fragile as income.

Consider real estate: commercial real estate is based on the income generated by enterprises renting space. If businesses fold or stop paying rent, the value of the property falls accordingly.

Even residential real estate is intimately connected to income: as household incomes plummet, the number of potential buyers plummets, too. Institutional buyers of houses base the value on rental income, just like commercial property. As household income plummets, fewer people can afford sky-high rents, and so supply exceeds demand and rents will fall accordingly.

Consider bonds: the value of any bond, government or corporate, is based on the yield paid to the owner. While the general expectation is that yields will fall to zero because central banks are buying bonds, this may be less of a guarantee than generally assumed. The volume of bonds being issued may well exceed central bank buying, and yields (and interest rates) will rise despite central bank intervention.

The world depends on expanding debt to pay for government services and private-sector spending. Debt is also dependent on income; lenders who issue loans to households and enterprises with faltering income are very likely to lose money as these marginal borrowers default.

As income falls, lending dries up, as lenders cannot afford to risk making loans to people and businesses that are practically guaranteed to default. This is especially true for borrowers who are already burdened by existing debts.

As incomes decline, asset values decline and borrowing dries up. Once borrowing dries up, spending dries up, and enterprises and governments must cut payrolls by any means available: don’t replace retiring employees, cut wages and benefits, and eliminate overtime and bonuses.

As stock values fall, so do the value of employee stock options–another example of the reverse wealth effect.

Meanwhile, costs will continue rising as cash-strapped governments eventually seek more tax revenues and supply-chain shocks lead to higher prices.

We cannot go back to the pre-pandemic side of the river of time, and it’s dangerous to focus on returning to a time that has already been lost. We cannot go back, we can only go forward.

Why are some respected alt-media embracing a police state?

Posted on April 27, 2020 by Reid Mukai

By Catte Black

Source: Off-Guardian.org

It should be obvious by now to anyone that the covid19 pandemic, whatever its origins, is being used to fast forward a “new normal” world of unparalleled government power, surveillance and curtailment of individual liberty.

We are looking already at:

Compulsory DNRs for some elderly.
Biometric chips or bracelets to monitor whether or not you have permission to be outside your home or engage in work
Drone surveillance as normal.
Apps on your phone that can detect any breach of the self-isolation policy.
Huge new police powers of arrest and detention for anyone suspected of carrying the virus.
Suspension of elections for indefinite periods at government discretion

And this is only the starter course. We can be pretty sure they are currently just easing us in. The real stuff will be rolling along in the next months or maybe years (depending on how quickly they feel able to get this on)

This is the fabric of nightmare. A worst-case horror story that is the absolute quintessence of everything the alt-media is supposed to oppose.

Surely, you would think, any self-respecting alt-media person would be opposing this with everything they have while they still have a voice.

Well, some of us are of course. And we’re going to be posting links to other sites currently doing great work challenging this rollout.

But, weeks into this crisis, there are some very prominent voices still refusing to either question the official narrative of the pandemic or unequivocally condemn the fast dawn of the “new normal” Brave New World.

We’ve held off from confronting this for a while now. We figured people needed time to adjust or wake up to the reality of what was happening. It’s shocking after all, and deeply disorienting, and different individuals need different amounts of time to get their bearings when something that shakes their worldview comes along.

But adjustment time is long over by now.

Let’s also be clear, we’re not condemning people for simply disagreeing with us. We expect disagreement on some issues. It’s a source of strength for all of us.

But this is not about relatively minor differences of opinion or interpretation.

This is sophisticated analysts, with resources and experience, failing to condemn, and even supporting, what amounts to de facto international martial law.

This is Labour activists who mere weeks ago were calling Boris Johnson a murderer and psychopath, now cheering as he is handed total control of their lives and their children’s lives.

This is respected journalists, commentators and academics who loudly condemned the cynical lies about WMDs or ‘chemical attacks’ in Douma, the fake videos and fake White Helmets, suddenly and uncritically accepting the veracity of every government virus narrative, every unsourced video and media meme that has #covid19 as a hashtag.

This is people who have campaigned against the Patriot Act for 19 years, signing off on the new US anti-covid19 legislation without a murmur; who know that governments always abuse their powers, thinking they somehow just won’t abuse these.

This is people who know about Guantanamo and who have seen Julian Assange humiliated and abused, somehow thinking the people who did these things won’t use the new post-covid police state to do them even more.

This is something more than simple denial. It’s – what?

Are they simply paralysed with fear, either of the hyped-up virus, or the scary dystopia we are all suddenly inhabiting? Is it Stockholm Syndrome? Is it still possible some of them will wake up or unfreeze and see what is going on?

Are some of them gatekeepers, sleeper assets being activated in this extreme situation specifically to divert and delude the questioning and sceptical people who tend to follow them?

Well, I guess we can’t completely rule that out, can we, though I wouldn’t want to make that claim about anyone.

Are some just being self-serving and shallow, playing at being dissident while the price was low enough? Did they think writing a popular alt media blog was an easy way to be cool, but never had any intention of standing by any of it once it got a bit risky to do so?

I mean you are not gonna get that coveted slot on RT or Buzzfeed by taking on this major ‘new normal’ narrative are you? So that’s a factor potentially.

You can see the appeal of just sitting on the fence and talking in vague terms about how this fascism malarkey is a bit worrying, but stopping short of actually condemning it. That way you keep the option open to be ‘radical’ again once it looks safe enough to do so, but also don’t risk your comfy and lucrative relationship with the Establishment Left, who are all eagerly embracing the new age of mass incarceration and really want you to do the same.

Are some, as has been unkindly suggested, just too stupid to see what’s going on? Do epidemiology stats hurt their brains? Does thinking too much take up valuable psychobabble time? Is it hard to see the black clouds of tyranny rolling in when your head is too firmly planted in your own delightfully quirky posterior?

Or – we have to ask this – are a number of them simply, well, fascists? Do they actually support tyrannical top-down authoritarianism? Has their beef with the PTB merely been that they themselves are not currently high enough up that hierarchy? And do they see the covid19 rollout as some sort of revolution that will launch them and their chums into the positions of sweet supremacy they always knew they deserved?

Easy to preach permanent lockdown and biometric implant slavery when you figure none of it will apply to you and your family, I suppose.

All of these potential explanations may be the answer in some cases. And there could be a hundred other reasons besides.

But, in the end, do the explanations really matter? Do they change anything? Excuse anything?

The fact is these people stood at the barricades cheering and rallying the masses until the tanks could be seen rolling down the street – when they promptly upped and went over to join them.

Is there anything else to be said about that?

And where do we go from here?

A New World Is Being Born: What Will It Be?

Posted on April 24, 2020 by Reid Mukai

By Paul Craig Roberts

Source: PaulCraigRoberts.org

We are hearing from many that the world after Covid-19 will be different. The question is: Different in what way? Will it be better or worse?

Elites are working to make it better for them, and worse for the rest of us. About that the evidence is clear. The Big Boys are being bailed out and their debts covered. Everyone else, except those already marginalized and without a recent work record and fixed address, got a month’s rent and extended unemployment benefits.

Big Pharma sees massive profits in the virus, Government sees more power to control

But the disparity in economic benefits is only a part of it. Powerful vested interests, such as Bill Gates and Big Pharma, are determined to vaccinate us all, and to control our movements with an internal passport called “vaccinated, health cleared” or other words to that effect. New tracking procedures and technologies are to be put in operation reminiscent of the “mark of the beast” to police the access of varous categories of people to various areas and benefits.

Experts point out that just as we cannot be vaccinated against the common cold, except perhaps for the past year’s version we cannot be vaccinated against Covid-19 and other mutating viruses, but the experts are already being shouted down. No expert opinion is to be permitted to stand in the way of vaccination profits.

Neither will nutrition and vitamin advocates be allowed to get in the way. Bill Sardi predicts that orchestrated scares generated by mandatory recalls of “toxic” vitamins await us ( https://knowledgeofhealth.com/modern-medicine-laid-bare/ ). Big Pharma is determined to acquire control over vitamins and homeopathic remedies, and the FDA is Big Pharma’s likely pawn.

Vaccination has been elevated above cure, as Big Pharma and its shills such as CNN shout down the positive experience doctors report of successful treatments with Hydroxychloroquine and Azithromycin, and the effectiveness of Vitamin C, Vitamin D3, and Zinc in strengthening the ability of immune systems to fight off the virus. Big Pharma-influenced medical orthodoxy cannot get out of the box it has been put into. When new thinking and experimentation are needed, those capable of thought are hasseled and even blocked by FDA regulations and dogmatism.

The permanent government and its security agencies see in the population’s fear and confusion opportunities to put into place more tyrannical measures, more set-asides of Constitutional Rights, more impairments on free speech. The ability of freedom to resist oppression is ever diminished.

Various descriptions of the expected dystopia are offered on the Internet. But it does not have to turn out this way. It is up to us. Demoralized and fearful, we can accept more government power as we did after 9/11. Instead, we can collectively recognize the massive failure everywhere of Western leadership and construct a more liveable and sustainable society.

The failure of leadership is an opportunity for real change

CNN, the New York Times, and the rest of the controlled media tell us every day that President Trump represents the failure of leadership. But the failure of leadership goes beyond all the leaders of the last 30 years and resides in the system itself. Global, “self-regulating,” greed-driven, financialized, soulless capitalism cannot unite people into a sustainable community.

The failure of leadership resides in the long-term failure of leadership that made Western societies vulnerable by moving high-productivity, high-valued jobs offshore in order to raise corporate profits at the expense of domestic consumer incomes. It means the movement offshore of the ability to produce medicines, N95 masks, and other needed resources for national survival. It means dependency on foreign powers. It means the inability to function without massive imports. However you look at it, globalism is a death sentence. Its only advantage is to the rich, and the advantage comes to them in the form of cheap labor that swells their profits while it shrinks domestic incomes and the purchasing power of the population.

Without incomes to drive the economy, the elites provided loans and expanded credit in order to provide spending power based in personal debt to absorb the offshored production brought home to sell in American markets. The cost of college education soared as its quality declined. Education subsidies were cut and student debt substituted in its place. Inflation was understated in order to deny Social Security pensioners cost-of-living increases. Medicare payments to health care providers were squeezed down. The social safety net was ripped again and again. More and more people fell out, and homeless populations grew providing fertile breeding grounds for Covid-19.

The income and wealth distribution in the US went from fair to extremely unequal in a short time as the rich profited from the Federal Reserve pumping trillions of dollars into the prices of financial assets and from corporations buying back their own stock, thus decapitalizing the corporation while taking the company into debt, all for the temporary benefit of higher bonuses for executives and more capital gains for shareholders. The elites killed the economy for short-run benefits to themselves.

These destructive polices were the work of greed-driven short-term thinkers—people whose only vision was “I want even more.” And it is these unworthy people, not their victims, that Uncle Sam is now rescuing. The massive unpayable debt bubble that already overhung the economy is being blown larger. The Federal Reserve and the US Treasury are in the process of destroying the US dollar in futile efforts to save the super-rich from their own greed-driven misbehavior.

In place of this insane approach to the economic crisis, there is a sane approach. The bailed out corporations and banks are in effect being purchased by the government. Therefore, they should be treated as the nationalized corporations that they are. Once nationalized, the government, unlike the corporations, can create the money to pay the salaries and health premiums. The predicted 30 or 40 percent unemployment can be avoided. It is better to pay salaries than to pay unemployment benefits. The psychological difference alone is worth a vast amount.

The inability of the high-cost American private health care system to cope with the present medical crisis is apparent. A profit-driven health care system is the highest cost system to have.

Profit is built in at every level, which raises costs to levels that private insurance and Medicare refuse to reimburse. The result is shrinkage, not expansion of the system. Just look, for example, at the number of hospitals, especially in rural areas, that have recently closed.

Moreover, the coverage of a private system—and Medicare itself—has massive gaps. The resistance to a nationalized health service is ridiculous, especially as a nationalized service can coexist with a privatized one. Two are clearly better than one.

Nationalization has numerous benefits. It permits the large unwieldly enterprises, created, for example, by the mergers of giant banks like Chase Manhattan and J.P. Morgan, to be broken up and to reestablish the separation of commercial from investment banking. The repeal of the Glass-Steagall Act and the suspension of enforcement of the anti-trust laws were ignorant policymaking at its worse. Nationalization permits the government to bring home the offshored production of global US corporations and to put the US workforce back to work in middle class jobs. It is win-win for the American people.

Once the giant monopoly corporations are broken up, they can be privatized and returned to private ownership on a fair value basis, not on the giveaway basis of a pennies on the dollar sale. The money the government receives from their sale can be used to retire government debt.

For individuals, the life- and economy-suffocating heavy debts should be written down to levels that can be serviced by their incomes. Michael Hudson and I proposed a “debt jubilee” as a solution: https://www.paulcraigroberts.org/2020/03/25/a-brady-bond-solution-for-americas-unpayable-corporate-debt/ Others have taken up our call: https://truthout.org/articles/1200-only-goes-so-far-its-time-to-abolish-debt/?eType=EmailBlastContent&eId=98cb6aac-8ef8-4e0e-b80e-24a1d1f92ef6

Currently the Federal Reserve is socializing debt without writing it down. This is nonsensical as it bails out debt by expanding it.

In the US there is so much dogmatic prejudice against anything that has a tint of socialism, even as a temporary expedient measure, that thought and sensible action face strong barriers. If we cannot overcome these barriers, we are destined for far more difficult times.

Can community be restored or will nationality degenerate into the clans and tribalism of Identity Politics?

The greatest challenge we face is to restore the concept of community. There was a time when the United States was a community, a unique one as it consisted of a multitude of ethnicities. As each wave of ethnic immigrants arrived, they passed a test on the Constitution, learned the national language, and became assimilated into the American community.

This community has been destroyed by a variety of forces, the latest being Identity Politics. Identity Politics prohibits community by breaking down the population into mutually hostile groups by gender, sexual preference, race, and whatever classification can be invented or imagined. The result is a Tower of Babel. A Tower of Babel is not a community.

Instead of community, the US is a place where hatreds are cultivated with those claiming the status of victims doing the most hating and those assigned the status of victimizer being most hated. Initially, white hetereosexual males were the primary hate objects, but lately we have the transgendered hating the feminists who say that a woman is a woman, not a man who claims to be a woman. The transgendered attacks on well-known feminist leaders are violent in their language and are likely to progress into violent deeds. Various unassimilated immigrant groups battle each other over who controls disputed territory. Israel’s inhumane treatment of Palestinians has enraged Muslim immigrants against Jews. Violent racial attacks on white people are becoming more common.

For decades Women’s Studies have taught hatred of men, and Black Studies have taught hatred of Whites. This taught hatred is now supplemented by the New York Times 1619 Project. In place of assimilation, we now have mutual hatreds. How do we escape from this?

Perhaps the challenge from Covid-19 will force us to come together again in order to prevail over the virus, which in mutated versions might be with us forever. A coming together would be helped by an economic bailout perceived as fair rather than as the one-sided approach that has been taken. A debt jubilee provides the necessary fairness.

The elites by thinking only of their interests are in the way of the opportunity that crisis provides to bring people together. If we can’t be brought back together, we can forget about unity beyond the boundaries of our own victim or identity group. In place of community, we will be organized in clans of seperate identities. The absence of unity at home will make us a sitting duck for enemies abroad.

We know what the Dystopian Wish List is. Can we come together with an anti-dystopian wish list as a mutually supportive community or have the elites succeeded in atomizing us into disparate tribal hate groups?

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After the Crash

Dispatches From a Long Recovery (Est. 10/2024)

Category Archives: Corporate Crime