Just smart enough to recognize the hopelessness of its situation. But I’m sure this is a violation of its owner’s property rights. Next up: psychiatry! One drone hacking another.
Last week, volatility made a long-overdue return to the US and global equity markets.
It began with a 2-day back-to-back violent drop. Day 3 saw a big rebound, swiftly followed by two more days of gut-wrentching losses. And then finally, last Friday, the day saw massive swings both high and low, ending with a huge upside run.
During this period the S&P 500 lost more than 300 points. Since then, though, the market has been steadily rising.
Is the danger past? Are the markets safe once more?
And if so, did the markets recover organically? Or were they rescued by The Plunge Protection Team (PPT)?
The answer matters.
If such intervention was rare we could almost justify it, if it took the form of simple, pre-arranged circuit breakers that shut the market down for a “cooling off” after they’ve moved too far, too fast. Indeed, these already exist, and are sufficient in our view.
But if such market interventions are routine, persistent, and generally depended on by the major market participants, then they’re highly destructive over the long term.
Sadly, we live with the latter.
Insiders get stinking rich by front-running the scheme (check). Normal adjustments are prevented (check), allowing dangerous bubbles of extreme overvaluation to form (check), while fostering malinvestment (check).
Do this long enough and you end up with a deformed economy, an eroded social structure, and markets that no longer function as appropriate mechanisms for capital distribution and economic signaling.
This is where we find ourselves today.
Modern-Day Soviet Crop Reports
In the former Soviet Union, the communist method of assuring economic progress was to set targets for production. Famous among them were the crop reports.
In these, year after year, the various regional oblast (province) authorities would declare having met or exceeded the crop targets, despite rarely ever truly doing so.
These crop reports were so famously unreliable that the Kremlin leadership eventually took to obtaining their information from US satellite reconnaissance data rather than their own internal reporting from local Communist Party bosses.
Basing next year’s crop planting decisions on these reports often led to famines, and sometimes even mass starvation of entire regions.
Poor data = Bad decisions.
The Soviet crop reports are now a famous example of an unreliable measure that led to disastrous consequences. Because of the false reporting, poor decisions were made. Eventually it became clear to even the Soviets that attempting to centrally micro-manage a major economy is an act of folly.
Too much of this and too little of that were produced. Cement, steel, and auto quotas harmed rather than helped for obvious reasons; poor information flows assured that production decisions were late or flawed or both. All this contributed dearly to the Soviet economy’s collapse.
The lessons here are instructive and simple:
- centralized management of complex systems doesn’t work, and
- bad data leads to bad outcomes
Today’s stock and bond markets are no different than the Soviet crop reports of old. They mainly represent what a small committee of central planners believe are the right numbers to achieve very broad macro-economic goals.
Enormous damage has already been done by the interventions and distortions resulting from the pursuit of the delusional aims of todays central planners (with the world’s central banking cartel being the most culpable).
But it’s poised to get a lot worse from here.
A Great Irony
The ironic parody of all the current US concern over the possibility of Russian meddling in US elections is that virtually nobody from either political party seems the slightest bit concerned that the US is actually recreating the very worst mistakes of the now-defunct Soviet empire.
In point of fact, the Federal Reserve has done far more self-inflicted harm to long-term US interests than anything that Russia has been accused of, let alone been proven to have done. At this point, there’s no contest between the two.
If the damage inflicted by the Federal Reserve had been done by a terrorist organization, it would for certain be public enemy #1.
Consider that, under the Greenspan/Bernanke/Yellen Federal Reserve, the following has occurred:
- Pension plans, both public and private have been ruined. Millions of future retirees and taxpayers will not have trillions of dollars they would and should otherwise have to support them in their later years.
- Income inequality is at the highest its been in over 100 years
- Wealth inequality is also at historical extremes
- Student debt is now nearly $1.5 trillion, up ~ $1 trillion since 2007
- More than a trillion dollars of interest payments on savings accounts has been forfeited — denying funds to the next generation for use in business creation, household formation, and education.
- Total debt in the US and globally is up massively since the 2008 Great Recession (itself a central banking accident), and now stands at more than $233 trillion worldwide.
These are among a few of the destructive results of the Federal Reserve’s decision to lower interest rates to 0% in order to reward the big banks, well connected private equity firms, and unrestrained government borrowing.
Of course, when you print money (as the Fed does) you cannot create wealth; you only transfer it from one party to another.
Put another way, the Federal Reserve and its foreign partners (the BoJ, ECB, etc.) have been picking winners and losers.
Losers have been seniors dependent on a fixed income, Millennials and every generation following them, and savers, pensioners, and taxpayers. The winners have been the banks, the ultra-rich, entrenched political parties, rentiers, and baby boomers with sizable financial portfolios. …
The catastrophic losses that will result from these massive pension shortfalls is nothing less than an act of domestic terrorism by the Federal Reserve. They will haunt the US for generations.
There should be serious consequences for destroying the futures of tens of millions of retirees, on purpose –and knowingly — simply so big banks could not just enjoy fat profits, but record fat profits, for nearly ten years in a row…
Put more bluntly: approximately 90% of US citizens have been financially and economically tossed under the bus simply so that the already-rich could get a little richer. If that’s not a form of terrorism, I don’t know what is.
None of that could have happened under responsible banking practices. Instead, such excess was enabled and encouraged by an activist Federal Reserve that loosened and loosened some more whenever reality began to exert itself.
They did this to reward themselves and their colleagues and banking associates. It has been a series of self-dealings and unchecked conflicts of interest.
My point here? None of this was done by accident. It has been deliberate and done with full intent to create exactly the conditions in which we find ourselves.
Sure, we could go ahead and obsess over the claim that somehow an insignificant $100k worth of Facebook ads purchased by Russia are somehow responsible for our current misery and overall state of domestic neglect. But we’d be focusing on entirely the wrong parties.
The worst threats we face are right here at home.
As bad as the damage done so far has been, the real pain has not yet begun.
The entire command-and-control system of the US and other western economies and markets has resulted in several decades of increasingly poor decision making and mal-investment.
When it comes to repaying the current global debt levels of ~310 % of GDP, we can confidently predict that such a debt load can never be repaid. They can only try to roll it over as long as they can — which can’t go on much longer without real consequence. Mounting losses are certain at this point.
When it comes to underfunded promises and entitlement programs, such as pensions and social security (clocking in at nearly 800% of GDP!), there’s really only one all-important question that matter at this point: Who’s going to eat the losses?
In Part 2: It’s Even Worse Than You Think, we reveal the much further extent of the racket being run against the public by the world central banking cartel, and how it’s efforts to continue this racket have sentenced us all to another massive financial/economic crisis — one that is both now inevitable, necessary, and overdue.
By preventing that which should happen, the central banks have set the stage for an enormously dangerous and disruptive market crash. The kind that forces markets to close for days and weeks on end. The kind that leads to major banking crises punctuated by ‘holidays’ where depositors can not access their money. The kind where disorder and social unrest becomes a real risk.
Media outlets are announcing the abrupt resignation of Brenda Fitzgerald, the physician appointed in July, 2017 to head the Centers for Disease Control and Prevention (CDC). The resignation follows on the heels of reporting by Politico, which uncovered conflicts of interest pertaining to dubious investment decisions made by Fitzgerald after she became the nation’s top public health official—including the purchase of thousands of dollars of tobacco, pharmaceutical and health care stocks. Individuals interviewed by Politico describe the trading decisions as “sloppy” and “ridiculous” at best and “legally problematic” at worst.
Most headlines are focusing exclusively on the CDC director’s investments in tobacco companies, which strike observers as hypocritical in light of Fitzgerald’s prioritization of tobacco prevention initiatives while serving as public health commissioner for the state of Georgia prior to joining CDC. However, Fitzgerald’s sizeable investments in the pharmaceutical and chemical giants Merck and Bayer, among others, should raise just as many red flags.
Both Merck and Bayer have a pattern of wreaking havoc on human health while striving to bury the evidence. Merck, for example, manufactures the top-selling but devastating Gardasil vaccine and used statistical gimmicks and other deceptive tactics to conceal Gardasil’s risks. Whistleblowers also have accused Merck of falsifying its mumps vaccine data. Bayer, too, has a track record of “scandal and marketing fraud,” having once paid out millions to the U.S. government in a medical fraud settlement after admitting to overcharging for Bayer’s antibiotic Cipro. Bayer also settled tens of millions after having persisted in selling contaminated blood products to hemophiliacs. At present, Bayer is poised to close a “mega-deal” to merge with Monsanto, which manufactures the glyphosate-containing herbicide RoundUp—both glyphosate and RoundUp’s other ingredients have been shown to be highly toxic.
The CDC has its own lengthy history of corruption and deceit and has routinely turned a blind eye to conflicts of interest while it works to “protect the private good.” Although the agency owns 56 patents applicable to vaccines, it has no problem shredding vaccine safety data it doesn’t like, while continuing to serve as the nation’s powerful (and ostensibly “independent”) arbiter of vaccine policy. Julie Gerberding, the doctor who led the CDC from 2002 to 2009 (the time period when the Food and Drug Administration approved Gardasil without proper safety testing), left CDC to become president of Merck Vaccines and subsequently became Merck’s executive vice president for global strategic communications. Gerberding has benefited handsomely from her shares of Merck stock.
Thus, Brenda Fitzgerald’s personal financial stake in companies such as Merck and Bayer only illustrates, in microcosm, the CDC’s longstanding willingness to cozy up to Big Pharma and Big Health Care in defiance of ethics rules. What the United States urgently needs—and taxpayers firmly deserve—is ethical leadership across the board at CDC, provided by individuals who are free from financial conflicts both before and after taking office. The far-reaching health decisions made by CDC officials need to be driven by solid and truly independent science, not by officials’ pocketbooks.
Dr. David Brownstein says that the two-dose vaccine for chicken pox does lower the rate of that childhood illness. However, shingles, which is a painful recurrence of chickenpox, mostly in adults, has become an epidemic that is directly related to the vaccine. Shingles is far more serious and life-threatening than chicken pox. The bottom line is that billions of dollars are spent on vaccinating children to reduce the rate of a relatively mild childhood disease only to make them more susceptible to the same virus as adults causing serious illness (more medical bills) and even death. Big Pharma wins at both ends of the cycle. –GEG
When I was a child, nearly everybody became ill with chickenpox. Like nearly all kids, when I became ill with it, I stayed home from school about a week and fully recovered.
All that changed in 1995, when the FDA licensed and approved the live attenuated chickenpox (varicella) vaccine in persons aged >12 months. After the vaccine began to be used by most children, the incidence of chickenpox rapidly declined. However, due to continual outbreaks of chickenpox, a second dose of the chickenpox vaccine was added to the childhood immunization schedule in 2006.
Is the chickenpox vaccine effective at significantly lowering the incidence of chickenpox? Yes. Due to the vaccine, there is a significantly lowered incidence of chickenpox.
However, the most important question to ask is, “Has the chickenpox vaccine (along with the other 70 doses of vaccines given) improved the lives of our children and the rest of the population? The answer to that question is easy: No.
Yes, our children have less chickenpox due to the vaccine. However, shingles, a painful reoccurrence of chickenpox, has become an epidemic illness affecting both children and adults. The rapidly increased incidence of shingles is directly related to the use of the chickenpox vaccine. You see, we need chickenpox circulating in the environment to tweak our immune systems in order to stay alert. With the effectiveness of the chickenpox vaccine, our immune systems are no longer stimulated with the varicella virus (the virus that causes both chickenpox and shingles) which allows the reactivation of the chickenpox virus—shingles– to develop. Studies have shown that we spend more money treating shingles than the savings due to the lowered rate of chickenpox. And, shingles can develop into a chronic, debilitating disease and can cause death.
I keep hearing the mantra that vaccines are safe and effective. That is simply not true. Vaccines are associated with a host of adverse effects. In the case of the chickenpox vaccine, a recent study looked at the adverse effects of this therapy.
The study concluded, “We identified no new or unexpected safety concerns for the second-dose varicella vaccine.” (1)
However, when the entire study is read, a different picture is formed. The authors found 14,641 reports (from 2006-2014) to the Vaccine Adverse Event Reporting System (VAERS) after the second dose of the chickenpox vaccine. VAERS is a voluntary reporting system designed to collect information about adverse effects from vaccinations. It is estimated that only 1-10% of all vaccine-related adverse effects are reported to VAERS since it is a voluntary system. (2) Since it is a voluntary system, there is no doubt that VAERS underestimates the adverse effects due to vaccines. I would venture a guess that most doctors who administer vaccines are unaware of VAERS. I know that is true from quizzing many doctors about whether they are aware of VAERS.
According to the study, 3% of the adverse reactions were classified as serious. Serious adverse reactions included anaphylaxis (83), meningitis (5), encephalitis—inflammation of the brain (16), cellulitis (52), chickenpox (6), shingles (6), and death (7)….
RIPON — In a colorful protest, about two dozen Weston Elementary school kids in Ripon skipped class on Wednesday and demanded that the Ripon Unified School District remove what they believe is a cancer causing agent.
“Take down that cell tower,” Kyle Prime, a cancer survivor, said.
“Having a cell phone tower on a school ground, it’s… in 2011 it was classified as a known carcinogen so that tells me that it shouldn’t be around our children,” Prime’s mother, Kellie, told FOX40.
Kyle, 11, was diagnosed with cancer last year.
“I had a Wilms’ tumor in my left kidney,” Kyle said.
Another parent, Monica Ferrulli said her 10-year-old son, Mason, was diagnosed six months later.
“I had brain cancer,” Mason said.
Both mothers said it was devastating to learn of their sons’ diagnoses. They believe the radiation from the communications tower, which was installed in 2009 on the school’s campus, may be the reason their sons got sick.
“It’s there. It’s very, very close to the buildings. The kids are there, six, seven hours a day,” Prime said….
Evan Long’s “The Columbine Cause” is a feature-length video presentation based on public domain government records related to the official “investigation” of the Columbine High School shootings of April 20, 1999. It includes quotations from suspect interrogations and witness interviews as recorded in little before publicized police files, 911 recordings and other rare items.
The documents reveal that many corroborating reports from Columbine High School students, faculty and others directly conflicted with the conclusions presented in the Sheriff’s Office Final Report concerning the attack timeline, the weapons used and more:
“[Columbine High School cafeteria witness Brandi Wiseman] said that they could hear the gunmen reloading their shotguns and other guns in front of the door and then begin shooting at what she thought were the appliances in the kitchen. […] She said that she had her watch on and that this occurred at approximately 1230 hours.”
“[Columbine High School student Kristen Schoenhoff’s] two best friends were out in the senior parking lot retrieving something from one of the girls’ cars. They saw two gunmen, both of which were neither Dylan or Eric. [One of them …] later identified one of [the gunmen] in the yearbook […]. She looked in the back in the [Trench Coat] Mafia Dedication and found him in the picture.”
“[Columbine High School] class of 2001 and one-time [Trench Coat Mafia] member Alex Marsh said she left the group in about December of ’98 because of their propensity for violence. Specifically, Marsh told classmates that she knew of the attack having been planned since at least that time, and was overheard stating that if she hadn’t left the group, she probably would have been in on it with them.”
Were these discrepancies merely the result of chaos and confusion or did the witnesses experience something very different than the authorities presented as their findings? With “The Columbine Cause”, you can listen to some of those who were at the scene and inform yourself more fully about what happened before, during and after this most infamous of school shootings.
Was the “trench coat mafia” an intelligence operation which lured in psych-drugged and unhappy kids to channel their anger in a desired direction?
The notorious cocaine kingpin Pablo Escobar worked closely with the CIA, according to his son. In this episode of The Geopolitical Report, we look at the long history of CIA involvement in the international narcotics trade, beginning with its collaboration with the French Mafia to using drug money to illegally fund the Contras and overthrow the Sandinista government in Nicaragua. We also look at how drug profits are used to float Wall Street and the role big banks play in laundering huge amounts of illicit drug profits.