Proof of U.S. Role in Chinese COVID Bio-Weapon Research

Rumble — In this interview with The New American magazine’s Senior Editor Alex Newman, lawyer and doctor Richard Fleming offers the documentation proving that the U.S. government and key Americans played a critical role in supporting the research that weaponized viruses to eventually create COVID19 at the Wuhan Institute of Virology. He even names names, such as Ralph Baric at the University of North Carolina, and gives grant numbers from U.S. government institutions. Dr. Fleming argues that the perpetrators must be prosecuted for their crimes, and that all of the necessary evidence is already available.

🇺🇸 The New American:
http://www.thenewamerican.com/

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Why Record U.S. Port Congestion May Lead To Historic Trade Deficit Blowout And Dollar Plunge

Whopping trade deficits likely

  • Containers unloaded at West Coast ports hit an all-time high, seasonally adjusted
  • Other ports likely saw inbound increases as well, avoiding unloading delays at West Coast ports
  • Trade data do not often move markets, but low yields + a deficit spike are a powerful USD-negative duo

Unloading on West Coast ports

Normally the spring is a low point for US imports, but this year imports are unseasonably high because of strong demand and bottlenecks that emerged in 2020. When we seasonally adjust the inbound containers data, we find a sharp spike because the US is importing when it normally does not.

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Shocking Truth About George Floyd Protesters

Would you tell me, please, which way I ought to go from here?
That depends a good deal on where you want to get to.
I don’t much care where –
Then it doesn’t matter which way you go.

― Lewis Carroll, Alice in Wonderland

Kerem Yucel/Agence France-Presse — Getty Images

Esteemed Cardiologist Issues Grave Warnings On Covid Vaccines…

Dr. Richard Fleming, physicist-nuclear cardiologist, issued a warning that experimental covid vaccines are not effective, but could cause Mad Cow disease.

“In the animal model, they develop spongiform and Mad Cow disease,” Fleming said. “We also know 2 weeks afterwards they develop…what causes Alzheimer’s and neurological disorders.”

Fleming warned the effects could take a year and half to show in humans.

Fleming, who in the 1990s discovered inflammation causes cardiovascular disease, said man-made spike proteins in the vaccines also cause inflammation. The Johnson & Johnson vaccine was pulled for its link to blood clots in women.

The vaccines have “no statistically significant benefit,” Fleming said, but cause “inflammation and blood clotting, Lewy bodies [associated with dementia], Mad Cow disease, and nothing to benefit.”

SOURCE — Bannon War Room

***

A 2-1/2 hour Masterclass on SARS-CoV-2

with Host Miles Johnston.

Beginning with Why you should listen to what I have to say about SARS-CoV-2 & COVID-19.

Evidence shows that this virus is
engineered with Gain of Function (GoF)
including mechanisms creating an
Inflammo Thrombotic Response (ITR) with
mRNA Reverse Transcription (RT)
into cell DNA with Prion-like structures
presence in the virus spike protein.

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U.S. Consumer Prices Jump At Fastest Pace Since 2009 As Energy Costs Surge

Following the explosive surge in producer prices, analysts expected a similar jump in consumer prices and were not disappointed as headline CPI jumped 0.6% MoM (+0.5% exp) and 2.6% YoY (+2.5% exp).

This is the biggest MoM jump since June 2009 and biggest YoY jump since Aug 2018, as CPI follows PPI higher.

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Small Business Closures Soar Back Near Pandemic Peak As “Financial Hopelessness” Builds

Despite trillions in Fed “stimulus” and endless government handouts, John Stanford, co-executive director of the Small Business Roundtable, told CNBC this week that “it continues to be a very painful time for small businesses.”
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Their Horns Are Caught In The Thicket

(Sarah A. Hoyt) I read somewhere between amusement and horror that the Biden administration wants THE WORLD to create a worldwide corporate tax, to “alleviate poverty” and so that “everyone pays their fair share.”

Of course the reasons they give are nonsense. There might be some idiots who believe them, but by and large they’re nonsense.

And then I realized why they wanted this, and I started to cackle.

Seriously, guys, they have their horns caught in the thicket.

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World Economic Forum Promotes Long Term ‘Smart Mask’ That Alerts Authorities When You Forget to Wear It

Respondents warn it can be linked to global social credit score system.

The World Economic Forum is promoting a ‘smart mask’ that tracks your breathing and alerts you via an app if you wear it improperly or forget to wear it at all.

Yes, really.

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U.S. Producer Price Inflation Posts Highest Annual Increase Since 2011

Bill Greenblatt/Agence France-Presse/Getty Images

The numbers: The producer price index rose 1% in March, the U.S. Labor Department said Friday. Economists polled by the Wall Street Journal had forecast a 0.5% rise.

The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That’s the highest level since September 2011. Because PPI was so weak last spring, increases this year are going to push the annual readings higher for at least a few months.

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Biden Regime Sends Illegal Alien Children to Former Japanese Internment Camp Site

LOS ANGELES, CA — The Los Angeles County Fairgrounds, one of the places Japanese Americans were held during World War II, will serve as an emergency shelter for unaccompanied children who have crossed the border into the United States, L.A. County has announced.

Hilda Solis, chair of the Los Angeles County Board of Supervisors, said Thursday the decision was made after discussions with the Biden White House.

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Inflation Watch: After Unprecedented Delay, BLS Admits Huge Jump In Producer Prices In March

After China’s factory inflation surprised to the upside with the hottest print since July 2018, this morning’s US producer price data was highly anticipated and expected to surge to multi-year highs.

As ZeroHedge detailed earlier, the data’s release was actually delayed – it seems people are actually interested in how much of their dollar’s worth is being eaten away?

As a reminder, over half of the inputs for the consumer price index calculation is estimated (translation: made up), so why not PPI too.

And when it hit it was dramatically hotter than expected, printing up 1.0% MoM (vs +0.5% exp) and a stunning 4.2% rise YoY (+3.8% exp) – the highest since 2011…

Source: Bloomberg

This is the 11th month in a row of rising PPI.

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Chinese Communist Let Slip Truth About Urgency To Vaccinate Americans On CNN

(SunDance) There is so much in this soundbite from Chinese born Dr Leana Wen (Public Health Policy, George Washington University) it is difficult to encapsulate.

When they show you who they are, believe them. In this soundbite Dr. Wen is apoplectic that people might realize there is no need for a vaccination because everything is open and there is no crisis. She frets that American people will enjoy their freedoms without vaccination.  Just watch and listen to the priority in her soundbite.

The blind-spot exposure of their ideology is a weakness of the totalitarian mind. They spend so much time in an echo-chamber they cannot fathom the insanity of what they are espousing. To them it just seems like the typical conversation they have all the time, because they never face anyone challenging them.  WATCH:

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Goldman, JPMorgan Seize Equity Stakes In The Two Largest Malls In North America

Bankers are set to seize a 49% minority stake in the two largest malls in North America after their owner defaulted on its massive, 3.3 million-sq.-ft. retail and entertainment development in New Jersey, Chain Store Age reported.

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“Nightmare”: Los Angeles DA ‘To Dissolve Or Downsize’ Hardcore Gangs, Major Narcotics Units

Los Angeles County District Attorney George Gascón (D) is planning to “severely downsize or outright dissolve” the office’s Hardcore Gang and Major Narcotics units as early as next month, according to Fox11 LA, citing multiple sources within the DA’s office.

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The Best And Worst Sectors For Rising Interest Rates

(Kevin Means) Interest rates are notoriously difficult to forecast. However, if you believe that rates will continue to rise (as I do), it may be helpful to know which market sectors are likely to be most affected, for good or ill.

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U.S. Army Withholds Privileges And Services From Those Refusing Experimental Vaccine Testing

The US Army can’t legally mandate COVID vaccines, but restrictive policies like those at Fort Drum and Fort Bragg make it increasingly difficult for service members to refuse.

“Liberty is always dangerous but it is the safest thing we have.” — Henry Emerson Fosdick

(Pam Long) A March 17 memorandum from the commander at the U.S. Army’s Fort Drum reservation in New York lists privileges withheld from service members who refuse to get the COVID-19 vaccine — an experimental Emergency Use Authorization product not proven to prevent infection or transmission of the COVID virus.

The memo, “Prohibited Activities for Personnel Within the Authority of the Commander, 10th Mountain Division and Fort Drum,” states:

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Pending Home Sales Drop For 2nd Month In A Row; Weather, Rates, Inventory Blamed

Following the unexpected plunge in new- and existing-home sales, analysts expected a 3.0% MoM drop in pending home sales to round out the dismal housing data in February. Instead – mimicking the huge drops in other segments of the housing market, pending home sales crashed 10.6% MoM (the biggest drop since April). Worse still, pending home prices are now back down 2.7% YoY…

That completes the triple whammy of collapse in the home sales market…

Source: Bloomberg

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Top Doctors: CV-19 Vaccine Warnings – CV-19 Cures – Must Watch Videos

The Covid 19 (CV-19) headlines out so far this week are downright confusing and contradictory.  One says “Covid-19’s Fourth Wave is hitting the U.S Hard.”  Another says, “Texas Hits Record Low Covid Cases 3 Weeks After Lifting All Pandemic Restrictions.”  What are you to believe?  The mainstream media (MSM), CDC and most politicians have been lying about almost everything.  The idea they are pushing that only a vaccine is the answer to what many people call a “Plandemic” is a huge lie.  Let me prove it.

Please join Greg Hunter of USAWatchdog.com as he posts three videos:  An intro- duction video by Hunter along with two “must watch” videos by top experts, so you can be informed about taking a vaccine (or not) or a treatment that can save your life.  Big Tech, MSM and the CDC do not want you to hear what these experts have to say.

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U.S. Consumer Confidence Explodes Higher In March

After a mixed picture in February (expectations down, current conditions up), analysts expected a big jump in Conference Board Consumer Confidence in March… and they got it.

March Consumer Confidence exploded from 90.4 (revised lower) in Feb to 109.7 in March – the highest since March 2020.

The underlying components also smashed expectations:

  • Present situation confidence rose to 110.0 vs. 89.6 last month.
  • Consumer confidence expectations rose to 109.6 vs. 90.9 last month – highest since July 2019

Source: Bloomberg

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The Great Unvaxxed – A ‘Fictional’ Look At What Lies Ahead

(TE Creus) The vaccine was a resounding success. Yes, there had been a final death rate of 10% among the vaccinated, but this was mostly among the elderly or the already ill, so it was probably not the vaccine’s fault, and if it was, no one could prove it one way or another, and even if they could, well, the vaccine manufacturers were not liable to lawsuits due to the agreements they had made with the various governments.

In any case, the pandemic had ended, that was for sure.

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Peter Schiff: The One Promise The Fed Is Going To Keep

(Peter Schiff) Since the beginning of the pandemic, government debt and money printing are off the chart. This is creating inflationary pressure. Prices are on the rise. And this is by design. In fact, the Fed has been promising more inflation for years. As Peter Schiff explains, it looks like this is one promise the Fed is going to keep.

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U.S. Home Prices Are Soaring At The Fastest Pace In 7 Years

Don’t worry, there’s no inflation – apart from in gas and home prices. According to AAA, gas prices at the pump are back near their highest in 6 years, up a stunning 42% YoY…

Source: Bloomberg
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Red Hot: Sacramento House Receives 122 Offers In Two Days

The housing boom unleashed by the Federal Reserve during the pandemic was built on historically low mortgage rates (thanks Powell), low inventory, city-dwellers moving to rural areas, and remote-work phenomenon. In the latest installment of the desperate frenzy of buyers fleeing for suburban life in California, one home received 122 offers in just two days.

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Miscarriages Skyrocket 366% In Six Weeks Due To Covid Vaccines

(Ethan Huff) Official data released by the British government shows that Wuhan coronavirus (Covid-19) injections are killing unborn babies at an astounding rate. The latest Medicines and Healthcare produce Regulatory Agency’s (MHRA) Yellow Card Scheme report, dated Dec. 9, 2020, through March 7, 2021, reveals a whopping 366 percent increase in the rate of miscarriage thanks to Chinese virus jabs.

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Oakland CA’s New Universal Basic Income Excludes Low Income White Families

(Matt Margolis) The city of Oakland, Calif., has just launched a universal basic income program, providing low-income families $500 per month, with absolutely no strings attached regarding how they must spend it. According to a report from CBS News, this program, which is privately-funded, “is the latest experiment with a ‘guaranteed income,’ the idea that giving low-income individuals a regular, monthly stipend helps ease the stresses of poverty and results in better health and upward economic mobility.” Unless you aren’t eligible for the program because you’re white.

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CCP Disappears H&M From China’s Internet For Voicing Concerns About Labor Conditions

Yesterday ZeroHedge discussed why western Corporations are terrified to confront China, even if it means losing on those all-important virtue signaling brownie points which are all that matter in Western society today: as a reminder, the stock of H&M, Nike and Adidas came under fire on Chinese social media on Thursday after Beijing’s propaganda offensive against Swedish fashion brand H&M sparked by the company’s expression of concern about labor conditions in Xinjiang. The sportswear companies were the latest to be caught up in a backlash prompted by a government call to stop foreign brands from tainting China’s name as internet users found statements they had made in the past on Xinjiang.

On Friday, as the Xinjiang spat escalated, China showed just how easy it is for Western companies to literally disappear when outlets belonging to Sweden’s H&M (Hennes & Mauritz AB) – the fashion retailer that found itself at the center of an escalating spat over human rights in Xinjiang – did not to show up on Apple Maps and Baidu Maps searches in China.

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Fed’s National Activity Index Crashed In February

Based on 85 monthly individual factors, The Chicago Fed’s National Activity Index unexpectedly plunged in February. Against expectations of a +0.75 print, the data showed a -1.09 (a reading below 0 indicates below-trend growth in national economy).

This is the first decline since April 2020.

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Existing Home Sales Fell Sharply In February, As Supply Dropped By The Largest Amount On Record

(Diana Olick) Closed sales of existing homes in February dropped a larger-than-expected 6.6% compared with January, according to the National Association of Realtors.

That put them at a seasonally adjusted, annualized rate of 6.22 million units, which was 9.1% higher compared with February 2020.

Despite being on the cusp of the historically busy spring housing market, homeowners are not listing their properties for sale at the pace they normally would this time of year. The supply of homes for sale fell 29.5% year over year, the largest annual decline ever, to 1.03 million homes.

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Israelis Cry Out to the World to Stop Mandatory COVID Injections as Lawsuit is Filed in International Criminal Court Over Nuremberg Code Violations

(Tap News) The entire world is watching in horror as vaccine death rates have skyrocketed in Israel since the Israeli government brokered a secret deal with Pfizer to inject the entire population with their experimental COVID shots, which are now being mandated as a condition to participate in society.

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How ESG ‘Credit Scores’ Could Affect EVERY Aspect Of Your Life

Global elites may soon influence every financial aspect of your life through car loans, business loans, mortgages, and more. It’s all thanks to the partnership between America’s biggest banks, the federal government, and global groups like the World Economic Forum — and it has already begun.

The Heartland Institute’s Justin Haskins joined Glenn Beck on the radio program to describe how Bank of America Merrill Lynch now assigns ESG (Environmental, Social, and Governance) credit scores for customers. It may not affect you yet, but soon, a low score — based on things like products you buy or how much electricity you use — could significantly impact your life.

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California To Reopen Assault Weapon Registration Grace Period

() California will reopen its “assault weapons” registration process and pause unconstitutional prosecutions after settling with a gun group over accusations that the process hindered the Second Amendment rights of residents.

California will let gun owners file new registrations, avoid prosecutions of registration violations for at least seven months, and pay the Firearms Policy Coalition $151,821.42 for lawyers’ fees, according to the terms of the agreement. Once the court approves the settlement, California will start a campaign to inform the public of the new registration process and give owners of the banned AR-15 variants up to three months to register them.

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Biden’s Green Energy Push Sparks Surge In Global Cooking Oil Prices

Global food prices are surging, and the timing couldn’t be worse. 

From Rabobank’s Michael Every and Michael Magdovitz to everyone’s favorite permabear, SocGen’s Albert Edwards, both point out that food prices worldwide are quickly rising and overwhelmingly agree the Federal Reserve is exacerbating the problem. 

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COVID-19 VACCINE Considerations by Colleen Huber, NMD


Colleen Huber, NMD
, February 21, 2021, updated March 15, 2021.
Most of the links below are from medical journals, the FDA, CDC, and other entities that generally support vaccination, yet the information in this article shows how EXTREMELY RISKY the COVID-19 vaccines are.

 


In my family, we have a rule:  If you consider having an experimental medical procedure done,

  1. Don’t even think of insisting that anyone else have it done, inside or outside the family, because they control their own bodies and health decisions, not you; and

  2. Be sure you have read about and can explain in your own words all of the known risks of that procedure before embarking on it.  Also, consider potential future risks.

I ask that you, the reader, at least take time to consider the above, and at least consider reading information in the links below, before submitting to this experimental medical procedure.

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“Things Are Out Of Control” – There Is A Shortage Of Everything And Prices Are Soaring: Whats Next?

In Wednesday’s press conference, Jay Powell confirmed that the Fed is setting off on a historic experiment: welcoming a conflagration of red-hot inflation for an indefinite period of time in an overheating economy, with the underlying assumption that it’s all “transitory” and that inflation will return to normal in a few years, and certainly before 2023 when the Fed’s rates will still be at zero.

There is a big problem with that assumption: while FOMC members, most of whom are independently wealthy and can just charge their Fed card for any day to day purchases of “non-core” CPI basket items, the vast majority of the population does not have the luxury of having someone else pay for their purchases or looking beyond the current period of runaway inflation, which will certainly crush the purchasing power of the American consumer, especially once producers of intermediate goods start hiking prices even more and passing through inflation.

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Fake CGI Biden Caught Moving Hand Through Reporter’s Gear (videos)

Wait, what?

(Natural News) Before boarding Marine One early on Wednesday, fake “president” Joe Biden made a rare live appearance before the press – or at least his digital avatar did.

While speaking through his face mask, China Joe was seen waving his hands around, one of them moving behind one of the microphones apparently being held by a reporter. Even though Biden’s image was clearly standing several feet away, his hand mysteriously moved to the reporter’s side of the mic, suggesting that some kind of green screen or superimposed imagery was used to create the fake footage.

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Most And Least Expensive Cities For American Homebuyers Today

With interest rates expected to remain low for the foreseeable future (as Fed Chairman Jerome Powell re-affirmed Wednesday), and millions of people adjusting to the prospect of working from home permanently, Americans are eager to compare various housing markets, as ‘Zoom Towns’ pop up across the US, and prospective homebuyers reassess where they might consider settling down.

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Ford Will Have More Plants Outside The U.S. Than Within After $900 Million Plant Move From Ohio To Mexico

The Ford Motor Company has reportedly shifted a $900 million investment for an Avon Lake, Ohio assembly plant towards a site in Mexicoaccording to the United Auto Workers (UAW) union.

Why didn’t Ford try this last year?

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Pastors Leaving Congregations Radicalized By Conservative Conspiracy Theories

Radicalized Christian President Donald Trump’s supporters storming the US Capitol. Samuel Corum/Getty Images

(Sophia Ankel) On the morning of the Capitol riot, Vern Swieringa told his wife during a walk with their dogs: “Something is going to happen today. I don’t know what, but something’s going to happen today.”

The Christian Reformed Church pastor from Michigan had been watching for months as some members of his congregation grew captivated by videos about the QAnon conspiracy theory on social media, openly discussing sex trafficking and Satan-worshipping pedophiles.

He had watched as other spiritual advisors, including the self-proclaimed “Trump Prophet” Mark Taylor, incorporated wild and dangerous QAnon beliefs into their sermons on YouTube and as organizers of the Christian Jericho March gathered in Washington, DC, days before the insurrection, urging followers to “pray, march, fast, and rally for election integrity.”

So when hundreds of President Donald Trump’s supporters stormed the Capitol hours after his premonition, Swieringa was shocked, but not surprised.

“I think some of the signs had been there all along, and it just all came to a perfect storm,” Swieringa told Insider.

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U.S. Industrial Production Plunged and Auto Manufacturing Crashed In February

The weather must have been pretty bad to prevent people from buying something on Amazon from the cell phone they were already holding in their hand.

US Industrial Production was expected to rise (+0.3% MoM) for the 9th month of the last 10 in February (the last ‘clean’ pre-COVID print before last March’s collapse, which will spark YoY comp chaos). But, instead, industrial production tumbled 2.2% MoM – the biggest plunge since April 2020. That pushed the YoY drop in production down to 4.25%…

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185 Union Pensions Got Their $86 Billion Piece Of The COVID-19 Rescue “Pie”

(Birch Gold) Both private and public pensions have been having major funding issues and struggling to get a good ROI for a number of years.

So it’s no surprise that any sort of economic relief package presented to Congress would include funds for pensions. Especially since a “bailout” culture seems to have taken root in America.

Where pension debt is a looming danger to taxpayers, via Texas Public Policy Foundation

Biden Plans Biggest Federal Tax Hike Since 1993

(ZeroHedge) Households across the US rejoiced over the weekend as they received their first stimulus checks. And as BofA’s team of analysts parses exactly how millions of Americans will spend this money (will they buy washing machines and toasters? Or dump it into crypto/GME?), Bloomberg is out with a chilling report alerting Americans to the inevitable reality that President Biden is about to switch gears from spending to fundraising.

Of course, we use that term loosely: Despite the fact that Biden just shelled out another $1.85 trillion to finance a third round of stimulus checks (not to mention hundreds of billions in handouts to states and municipalities), his administration isn’t raising money to pay for that. Instead, they’re looking to finance a Democratic “New New Deal”.

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Rep. Omar Reintroduces Bill To Cancel Rent, Mortgage Payments

(Arnie Aurellano) Rep. Ilhan Omar, D-Minnesota, has introduced the Rent and Mortgage Cancellation Act, a bill that would cancel rents and mortgage payments nationwide through the duration of the COVID-19 pandemic.

MICHAEL BROCHSTEIN/ECHOES WIRE/BARCROFT MEDIA/GETTY IMAGES

The legislation would constitute full payment forgiveness, with no accumulation of debt for renters or homeowners and no negative impact on their credit rating or rental history. Just as significantly, it would also establish relief funds for mortgage holders and landlords to cover the losses incurred from such payment cancellations.

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Freelancers Punished In New IRS Rule Under COVID Stimulus

(Sovereign Man) A few hundred pages into the latest $1.9 trillion Covid relief law, the “American Rescue Plan Act of 2021,” you’ll find Section 9674, It says that a “third party settlement organization” does not have to report to the Internal Revenue Service (IRS) any payments to contract workers under $600.

These third parties include Uber, Airbnb, Etsy, eBay, Freelancer, and other platforms which facilitate payments to gig workers. The problem is that this little amendment lowers the reporting threshold from $20,000 to $600. Previously, a gig worker could earn up to $20,000 on these platforms without the IRS being informed of their income.

What this means:

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Cash-Out Home Refinancings Hit Highest Level Since Last Global Financial Crisis

The rigging of interest rates by hapless central banks continues to do its job in distorting the market. In addition to boosting both bonds and stocks, it also has homeowners drawing on cash out refinancings at the quickest clip since the last global financial crisis. 

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Bombshell Video: Moderna Chief Medical Officer Admits Synthetic mRNA Can Alter DNA

(Suzanne Hanmer) Several prominent physicians, doctors, Sons of Liberty Media Health and Wellness expert Kate Shemirani, her colleague Dr. Kevin Corbett, and I have postulated that the current experimental mRNA injection for coronavirus, aka COVID-19, could alter one’s genetic code or DNA. Bill Gates stated it, which was included in my video “Human Genome 8 and mRNA Vaccine” on Brighteon.com. It is one reason the term “experimental human genome altering mRNA injection” has been used to describe the jab being foisted onto the mostly unsuspecting public. While many in the media, including Dr. Anthony Fauci and his merry band of chronic liars, and “fact checkers” have declared this claim as false, a video of a TEDx Beacon Street talk by Tal Zaks, chief medical officer of Moderna, Inc., one pharmaceutical company manufacturer of the experimental mRNA technology injection, confirms mRNA injection for COVID-19 can change your genetic code or DNA. This TEDx Beacon Street talk occurred in 2017. H/T to YouTube channel Silview Media Backup Channel.

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Biden Administration Leaves Door Open For Wall Street To Finance China’s Global Military Expansion

(Nolan Barton) President Jao Bai Den’s administration is leaving the door partly open for Wall Street to finance China’s military.

The Department of the Treasury‘s Office of Foreign Assets Control on Jan. 26 issued General License No. 1A, which permits Americans to continue acquiring shares in certain companies associated with “Communist Chinese Military Companies,” known as CCMCs, until May 27. The Trump administration originally set the deadline on Jan. 28.

Former President Donald Trump signed a landmark Executive Order 13959 on Nov. 12 last year, which stopped investors from purchasing or possessing shares in any company associated with a CCMC. In short, Trump ordered Americans to stop financing China’s military – the People’s Liberation Army.

Wall Street opposed Trump’s executive order, and now it has additional time to work for its repeal.

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Biden’s Iran Envoy Wrote The Book On Depriving Civilians Of Food And Employment

(Max Blumenthal) The Joseph Biden administration has named Richard Nephew as its Deputy Iran Envoy. As the former Principal Deputy Coordinator of Sanctions Policy for Barack Obama’s State Department, Nephew took personal credit for depriving Iranians of food, sabotaging their automobile industry and driving up unemployment rates. He has described the destruction of Iran’s economy as “a tremendous success,” and lamented during a visit to Russia that food was still plentiful in the country’s capital despite mounting US sanctions.

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FDA Approves Johnson & Johnson COVID-19 Vaccine Trials On Infants

(Chris Menahan) The Biden regime has signed off on new plans to conduct COVID-19 vaccine trials on infants and newborns — even though the CDC’s own data shows they face virtually zero risk of death from the virus.

The CDC’s data shows young people aged 0-19 have a 99.997% survival rate.

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Newsom: CA State Wide Medical Martial Law Will Continue Until Latinos In Certain Zip Codes Meet Jab Quotas

(Victoria Taft) California Governor Gavin Newsom has completely changed his response to COVID – again – this time leveraging opening the state for all Californians on the backs of low-income Latinos living in the areas with allegedly higher rates of illness.

In the name of “equity,” Newsom announced Thursday that 40% of all the state’s available vaccines will go to Latino communities in the Central Valley and in pockets of Los Angels because Latinos have suffered the most death and illness from COVID.

And there’s a catch: Until Latinos in these areas take the vaccine in higher numbers, California will stay locked down.

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Science Shows Double Masking Only Makes A 4% Difference

If you don’t stay locked in your bedroom in favor of going about your life – still masked, scrubbed and distanced – you’re a fool… “crisis” and desperation have replaced “challenge” and problem solving…

(Rocky Swift) – Japanese supercomputer simulations showed that wearing two masks gave limited benefit in blocking viral spread compared with one properly fitted mask.

The findings in part contradict recent recommendations from the U.S. Centers of Disease Control and Prevention (CDC) that two masks were better than one at reducing a person’s exposure to the coronavirus.

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Saudi Energy Minister Declairs ‘American Energy Revolution Is Over, Drill Baby Drill Gone Forever’

(John Hayward) Prince Abdulaziz bin Salman, Saudi Arabia’s energy minister, crowed at Thursday’s OPEC meeting that the American energy revolution is over, OPEC would soon regain control over oil markets, and “Drill, baby, drill is gone forever.”

“Drill, baby, drill” began as a Republican campaign slogan in 2008, popularized by vice-presidential candidate Sarah Palin, although it was coined by then-Lt. Governor of Maryland Michael Steele. The basic idea was that aggressively developing America’s energy resources would bring economic prosperity and make the United States less dependent on foreign oil.

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Sikh Canadian Dances With Joy After Receiving Covid Vaccine…

Remember those who received the polio vaccine in the first few years, were likely infected with SV40.

2019 experimental mRNA COCVID vaccines are also first of their kind.

***

Digital Vaccine Passports Being Rolled Out EVERYWHERE to Prove You’ve “Got Your Shots”

The Fed Is Preparing For Full Yield Curve Control And a New Operation Twist

Federal Reserve governor Lael Brainard on Tuesday became the first top official at the central bank to express unease about last week’s sharp rise in longer-term U.S. Treasury yields.

Federal Reserve governor Lael Brainard

Understanding Operation Twist

(Greg Robb) Asked about the bond market during a talk at the Council of Foreign Relations, Brainard said she was “paying close attention to market developments.”

“Some of those moves last week and the speed of the moves caught my eye,” Brainard said.

The Tell: Why the stock market’s big rotation can continue even if bond yields stop rising

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Los Angeles Schools To Launch 24/7 Tracking App And Weekly Virus Testing So Children Can Attend Classes

The Los Angeles Unified School District is launching a Microsoft-developed COVID-tracking app for children, which allows students to schedule and view the results of weekly COVID tests, post the results of off-campus COVID tests, and schedule vaccinations.

Texas Ends All Medical Martial Law Restrictions On Freedom

Shortly after Gov. Abbott’s decision to follow the science and allow the people of his state to be ‘free’ to judge their own risks once again, none other than California Gov. Newsom – desperate to virtue-signal as he fights for political survival amid an imminent recall vote – had a two word response: “Absolutely reckless”

We have two words for Mr. Newsom… can you guess?

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Congressman Jerry Nadler: “God’s Will is No Concern of This Congress”

During the debate last week over the Equality Act, a measure that would create a right to kill babies in abortions and force Americans to fund abortions, Republicans accused Democrats of ignoring Biblical values. And a surprising comment from pro-abortion Democrat Congressman Jerry Nadler confirmed that to be true.

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My Body, My Choice

Yes, the rushed-to-market Covid “spike protein” vaccine means an unpredictable, genetically engineered and mutated virus fragment is being injected into your blood

(Natural News) Clinical trial geeks posing as journalists manipulate the language around the dirty and experimental methods used today to manufacture vaccines. Online, all the vaccine hucksters are trying to convince everyone that this sped-up hustle to produce a Covid-19 vaccine is still ‘safe and efficacious,’ and not to worry your little head a bit about the fact that it takes 7 to 10 years to even come close to developing a vaccine that works (even though they still have horrific side effects).

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Treasury Yields Explode After Catastrophic, Tailing 7Y Auction

This is as close to a failed auction as we have ever come…

Ahead of today’s closely watched 7Y treasury auction, where the bulk of the recent Treasury rout has been concentrated as traders hammered the belly of the curve, we said that “If the 7Y tails a lot, watch out below” as that would only add insult to today’s furious selloff injury. Well, that’s precisely what happened, because with the 7Y pricing at 1.195%, this was a whopping 4.1bps tail to the 1.151% When Issued.

The auction was, in a word, catastrophic. 

Starting at the top, the bid to cover tumbled from 2.305 to 2.045the lowest on record, and far, far below the 2.35 recent average.

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Home Prices Soar At Over 5 Times The Fed’s Inflation Target In All US Cities Surveyed

(Tyler Durden) The Fed’s most frequent lament is that no matter how many trillions in bonds (and stocks and ETFs) it buys or how much liquidity it forehoses into the market, it just can’t push inflation higher.

Well, here’s an idea: maybe all the central-planning megabrains at the Marriner Eccles building and 33 Liberty Street can take a break from whatever circle jerk they are engaged in right now, and look at the latest Case Shiller numbers which showed not only that home prices surged at the fastest pace in seven years, rising at a double-digit pace for the first time since 2014…

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Kansas Bill Would Make Gold And Silver Legal Tender In The State

(Michael Maharrey) A bill introduced in the Kansas House would recognize gold and silver specie as legal tender and repeal all taxes levied on it. The legislation would pave the way for Kansans to use gold and silver in everyday transactions, a foundational step for the people to undermine the Federal Reserve’s monopoly on money.

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CA Rep, Khanna (D): ‘We Don’t Want’ Small Businesses That Can’t Pay $15 Minimum Wage’

Trying to live the American dream but can’t pay $15 an hour minimum wage? Democratic Rep. Ro Khanna of California doesn’t think your business should exist.

During a Sunday discussion on CNN‘s “Inside Politics,” Khanna said that “low-wage businesses” who can’t pay $15 an hour are “underpaying employees” and suggested that “If workers were actually getting paid for the value they were creating, it would be up to $23.”

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Building a Bitcoin Prison – Catherine Austin Fitts

Former Assistant Secretary of Housing And Urban Development, HUD and investment advisor Catherine Austin Fitts says you have to be careful and fully understand Bitcoin.  Fitts explains, ‘We do know they want to go to an all-digital system with central bank cryptos. The easiest way to build the prison is to get freedom lovers everywhere to build our prison for them. To me, Bitcoin has always been the prototype on the way to building an all-digital, omnipresent crypto control system that they would love to put into place.’

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine Austin Fitts, publisher of The Solari Report.

All science is merely a means to an end. The means is knowledge. The end is control. Beyond this remains only one issue: Who will be the beneficiary?

Data Shows Wind Power Failure Collapsed Texas Electric Grid

With the worst of the Texas power crisis now behind us, the blame and finger pointing begins, and while the jury is still out whose actions (or lack thereof) may have led to the deadly and widespread blackouts that shocked Texas this week, Cascend Strategy writes that “in case there was any doubt why the Texas grid collapsed, the data is clear”

  • Wind failed as “Ice storms knocked out nearly half the wind-power generating capacity of Texas on Sunday as a massive deep freeze across the state locked up wind turbine generators, creating an electricity generation crisis.”
  • Natural gas made up the difference for a while
  • But then everything else followed down

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Sky News Calls Biden Out For Cognitive Compromise

‘The Dementia is Transparently Obvious’

(Sundance) It appears the bloom is off the ruse, at least with Sky News.  In one of the first admissions to what is transparently obvious, an Australian news pundit finally points out that Joe Biden has cognitive issues.  The vast majority of Americans already know this, but the U.S. media have been pretending not to know for well over a year.  WATCH:

He may not have lost all his marbles, but there’s definitely a hole in the bag…

Source: by Sundance | The Conservative Tree House

Lumber Prices Top $1,000 For The First Time As Single Family Housing Starts Drop 12%

  • Lumber prices inched over $1,000 per 1,000 board feet, according to Random Length Lumber Futures for March.
  • That’s double the price from just three months ago.
  • Starts of single-family homes, which are the most desperately needed, fell 12% compared with December, according to the U.S. Census.

A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images

(Diana Olick) Consumers want more newly built, affordable homes, but builders are finding that hard to deliver, especially as prices for framing lumber spike ever higher.

Lumber prices inched above $1,000 per 1,000 board feet Thursday morning before falling back below that milestone, according to Random Length Lumber Futures for March. The high of $1,004.90 is double the price from just three months ago and a record.

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Biden Admin Prepares Operation Choke Point 2.0

By abusing the powers of Federal regulators, Operation Choke Point 2.0 would stifle the bipartisanship, unity, and healing President Biden claims to desire.

Biden Presidential Inauguration at the U.S. Capitol AP Photo/Susan Walsh

(Kelsey Bolar) Among the record-breaking number of executive actions taken by President Joe Biden was one related to a little-known, frightening Obama-era program called Operation Choke Point. The program, dubbed so under former Attorney General Eric Holder, used the power of the federal government to target legal yet leftist-disfavored businesses. Those included gun sellers, pawnshops, and short-term money lenders.

The Trump administration did its best to end this blatantly unconstitutional program that sought to discriminate against legal industries. In 2017, the Justice Department declared the program “formally over.” At the end of Trump’s term, the Office of the Comptroller of the Currency established the Fair Access rule to solidify its culmination.

But on Jan. 28, the Office of the Comptroller of the Currency under President Biden announced it would pause the Trump-era rule intended to prevent another Operation Choke Point from happening again.

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Biden COVID Expert Can’t Explain Why Lockdown States Aren’t Better Off Than Free States

(National File) During a recent television appearance on MSNBC, White House Senior COVID Response Advisor Andy Slavitt, who does not possess a medical background admitted the fact that California and other blue states under lockdown cannot record better infection numbers than comparatively free Florida is “just a little beyond our explanation.”

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Don’t Take It

Young Nurse Dies From Stroke Within Days Of Receiving COVID-19 Vaccine Booster

(National Addiction News) A 28-year-old healthcare worker from the Swedish American Hospital, in Beloit, Wisconsin was recently admitted to the ICU just five days after receiving a second dose of Pfizer’s experimental mRNA vaccine. The previously healthy young woman was pronounced brain dead after cerebral angiography confirmed a severe hemorrhage stroke in her brain stem.

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Newsom Prepares To Beat Recall With Mail In Ballots

(Adam Beam) — As California Gov. Gavin Newsom prepares for a potential recall election this year, the state Legislature passed a bill on Tuesday that would require all active registered voters get a ballot in the mail ahead of the election even if they didn’t ask for one.

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Judge Rules Citibank Can’t Get Back $500 Million Wired By Mistake

(Ramishah Maruf) After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a US District Court judge ruled.

Citibank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s lenders. Instead, Citibank accidentally wired almost 100 times that amount, including $175 million to a hedge fund. In all, Citi (C) accidentally sent $900 million to Revlon’s lenders.

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46 Residents Died After Receiving COVID Vaccine In Spanish Nursing Home

(Chris Black) Health officials have stopped administering the Pfizer vaccine after 46 residents of a nursing home in Spain have died after being inoculated with the Covid vaccine. The residents who died just received the first dose of the Pfizer-BioNTech vaccine against COVID-19 in early January, according to the Spanish press, via LifeSiteNews.

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Israel’s SARS-CoV-2 Vaccination Program Poses Fascinating Questions

Medical Disclaimer: Content in this re-posted controversial opinion piece is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health providers with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you read on this blog. OK?

“As things stand at the moment, it is hard to deny the possibility of a correlation between mass vaccination and a sharp spike in Covid-19 cases in both Israel and Britain.”
Gilad Atzmon

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If Christians Are to Survive, They Must Leave 501(c)(3) Churchs and Form Small Christian Collectives

The false gospel of collectivism and the True Gospel of Jesus Christ cannot coexist.

Let’s skip the whole bloody Civil War thing and instead jump to the Reconstruction Era. The Cultural and Spiritual Civil War has been going on for decades. We are standing in the ashes of it now. Time to reconstruct, reform, and rebuild for the Glory of God.

(by Dave Hodges) This is a time of unprecedented evil on planet earth. Many Americans are looking for refuge and direction with regard to dealing with unprecedented tyranny in our present lifetimes. Historically, Americans look to their church for salvation and direction. However, most of today’s churches have been taken over from within by the very evil we fear. Many of your religious leaders have become the newest version of Benedict Arnold with regard to their faith. In short, most 501(c)(3) churches do NOT represent God. Judas sold out the savior of humanity, Jesus Christ, for a mere thirty pieces of silver. Today, many religious leaders are selling out their congregations for even less. This is not meant to imply that there are not religious leaders who hold steadfastly to the word of God and stand as a beacon of spiritual and moral courage before their congregations. However, an increasing number of clergy are more interested in serving the dictates of Homeland Security than they are in accurately espousing and exemplifying the word of God. This betrayal by the “earthly” pastors towards the word of God, is precisely what is keeping the church from launching a massive Christian revival that would turn back the evil that has taken over our country.

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The Inflation Threat Just Got Real

(Neils Christensen) The debate between gold and bitcoin, as to which is the ultimate safe-haven and inflation hedge, continued to rage this past week. However, I feel that the longer this debate goes on, the more investors are missing the bigger picture.

The stark reality is that there is more than $16 trillion worth of negative-yielding debt floating around the world right now. The U.S. government continues to move forward with its proposed $1.9 trillion stimulus package to support the U.S. economy. The Federal Reserve’s balance sheeting grows from record high to record high, pushing above $7.4 trillion.

The U.S. also isn’t in this boat alone; central banks around the world are maintaining extremely accommodative monetary policies and growing their balance sheets to record levels.

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Utah Embraces Constitution, Ditches Concealed Carry Permits

The Beehive State joins 16 other states that have adopted permitless constitutional concealed carry

(Frank Salvato) As the nation’s gun sales soar, the State of Utah has is set to adopt a permitless concealed carry system in which anyone legally permitted to own a firearm – from any state in the Union – can carry a firearm under his or her clothing while in the state.

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Silver Shortages In February Suggest We’re Only Months Away From $50 Silver

Summary

  • Premiums on physical silver coins are at records, and shortages are widespread internationally. This is only possible if silver futures are not priced for a sudden flood of monetary demand.
  • Monetary demand tends to feed on itself, as the higher the price goes for a monetary asset like silver, the higher the demand for it goes, risking a dollar run.
  • Monetary demand for silver suddenly woke up in early February, causing shortages and rare backwardation in silver that we last saw in March 2020, September 2015, and February 2011.
  • After each of those backwardation periods, the paper price of silver skyrocketed within months as arbitrageurs moved in to bridge the physical/paper gap.
  • This backwardation is most similar to February 2011, with silver nowhere near lows, and if history rhymes, it suggests we are only months away from $50 silver.

(Austrolib) Gold and silver bugs are understandably frustrated with the lack of movement on the silver price while Bitcoin goes beyond the moon. Demand for physical silver has skyrocketed, and physical shortages at coin dealers are acute internationally. New American Silver Eagles from the US Mint are out of stock at even the largest US-based dealers like Apmex, and are only selling in pre-sales at near 50% premiums. ATS Bullion, a London-based precious metals retailer, is completely out of silver coins.

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‘I Can’t Afford To Live’: Man Panics After Insulin Skyrockets to $2,000 Per Month Under Biden Executive Order

(Tom Pappert) A 24-year-old man who says he graduated from college just before COVID-19 provoked massive lockdowns and a stagnant economy, now says that the cost of his insulin and other diabetic supplies have skyrocketed to $2,000. This comes after Joe Biden rescinded an executive order, signed by President Donald Trump, that lowered the cost of life sustaining insulin for low income Americans.

Roger Smith

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Pot Stock Shorts Smoked As Reddit Raiders Chase Prices Higher

With Gamestop stock in freefall, down a further 5% Wednesday morning to the low 47-handle, r/WallStreetBets has gravitated to cannabis stocks in recent days, squeezing the living daylights out of any hedge fund that is short pot stocks. 

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“Houston, We Have A Problem” 85%+ Of Physical Silver In London Already Held By ETFs

(Ronan Manley) With the ongoing #SilverSqueeze and huge associated dollar inflows into silver-backed Exchange Traded Funds (ETFs), it is now time to look at which of these ETFs store their silver in the LBMA vaults in London, England, and to calculate how much physical silver these combined funds store in those London vaults.

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The Real Silver Squeeze Lies Ahead

Summary

  • Silver and silver stocks’ explosive move higher was just a taste of what’s to come.
  • The WallStreetBets call-to-action has brought wild action to the silver market, but supply/demand fundamentals will make future buying stick.
  • Now, a much bigger share of investors is aware of the silver space.
  • With falling supply and soaring demand, especially from investment, silver’s mania stage still lies ahead. This was just the opening act.

(Peter Krauth) “Temporarily out of stock.” – That’s the message most hopeful physical silver buyers have been getting since the last days of January. Odds are bullion dealers going to have a tough time keeping any silver in stock.

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Want To Own Apartment Buildings? Buy Distressed Hotels For Pennies On The Dollar

(Diana Olick) Communities are desperate for more affordable housing, but the cost for developers is just too high. Land, labor and materials were pricey before the pandemic, and they are even more so now.

That is why some creative developers are now turning to hotels – and it appears to be a match made in real estate heaven.

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Laid-Off Pipeline Workers Send BRUTAL Message to Joe Biden

The Keystone pipeline. Cancelled by executive order on Biden’s on first day in office.

Warren Buffett owns BNSF railroad that is now transporting all that oil. BNSF would lose billions in transport fees if the pipeline is completed.

Report: China Denying Entry To People Who Took Pfizer, Moderna Vaccines

Officially, China has no specific policy for vaccinated travelers, according to Reuters.

Woman on the Yangtze River Bridge in Wuhan, China… Getty Images

China is reportedly denying entry to individuals who have taken the Pfizer and Moderna vaccines, Adam Curry of the “No Agenda” podcast claimed.

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Frontline Doctors Determine Experimental Vaccines ‘Not Safer’ Than COVID-19

Physicians’ white paper says injection prohibited for the young and at least discouraged for healthy individuals under 70 years of age. ‘Unethical’ to advocate vaccine for persons under 50.

(Patrick Delaney) In an extraordinary recent presentation exposing “the serious and life-threatening disinformation campaign” being waged against the American people and the world, Dr. Simone Gold of the American Frontline Doctors (AFLD) laid out the facts on the Wuhan Virus, safe highly-effective treatments, and particularly what she calls “experimental biological agents,” otherwise referred to as the COVID-19 vaccines.
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Reddit Raiders Preparing To Unleash “World’s Biggest Short Squeeze” In Silver

While all eyes have been focused on GameStop and a handful of other heavily-shorted stocks as they exploded higher under continuous fire from WallStreetBets traders igniting a short-squeeze coinciding with a gamma-squeeze, the last few days saw another asset suddenly get in the crosshairs of the ‘Reddit-Raiders’ – Silver.

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Chinese Bombers Carried Out “Simulated Attack” On USS Roosevelt Carrier Near Taiwan

Tensions spiked in the South China Sea and near Taiwan over this past weekend and have continued boiling since, after Chinese PLA aircraft made repeat in incursions into Taiwan’s claimed airspace. In response Taiwan’s Air Force scrambled jets in its own ‘show of strength’ deterrence message, and with the US aircraft carrier USS Roosevelt in the region, China’s Defense Ministry subsequently warned Taipei on Thursday that “independence means war”.

A new report in FT that broke overnight now reveals that the Sunday incident was even more alarming for the prospect of direct conflict than previously thought. FT cites unnamed intelligence sources to report that “Chinese military aircraft simulated missile attacks on a nearby US aircraft carrier during an incursion into Taiwan’s air defense zone three days after Joe Biden’s inauguration, according to intelligence from the US and its allies.”

File image of Taiwan Air Force F-16 monitoring a Chinese H-6 bomber, via Taiwan’s Defense Ministry

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Geopolitical Game Changing Iranian Pipeline Set To Launch

(Simon Watkins) The geopolitically game-changing Goreh-Jask pipeline project saw a major advance last week with the commencement last week of offshore pipe-laying operations. The implementation of this operation markets the first stage of the offshore development of the Jask Oil Terminal and, according to the Pars Oil and Gas Company, this offshore section of the early-production phase of the project will be completed with the construction of two 36-inch offshore pipelines running for around 12 kilometres and a single buoy mooring with ancillary equipment. Overall, the company added, the early-production phase of the Jask Oil Terminal Development Project is 70 per cent complete, allowing the project to come online by late March.

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The Day Free Markets Died In America

Brokerages/Markets A CRIME IN PROGRESS FOR RETAIL INVESTORS

This is unacceptable.

We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.

As a member of the Financial Services Cmte, I’d support a hearing if necessary. https://t.co/4Qyrolgzyt

— Alexandria Ocasio-Cortez (@AOC) January 28, 2021

BOMBSHELL ALLEGATION: Man Claims To Be Robinhood Employee & Says The White House Pressured Halt of GameStop Trading

All Hail The Reopening!

(Jeffrey A. Tucker) What a glorious thing the reopening is! After nearly a year of darkening times, the light has begun to dawn, at least in the U.S. 

Given how incredibly political this pandemic has been from the beginning, many people smell a rat. Is it really the case that the reopening of the American economy, particularly in blue states, is so perfectly timed? Do the science and politics really line up so well?

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Audit Finds 4 Million Californians May Have To Repay COVID Jobless Benefits

A new audit of California’s Employment Development Department (EDD) finds the agency was unprepared and had ineffective management to handle the surge in jobless claims during the virus pandemic. 

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U.S. Home Prices Soar At The Fastest Pace In 7 Years

After surged in October, US home prices (as measured by S&P CoreLogic Case-Shiller index of property values) was expected to accelerate further as a low inventories of listings and solid demand, fueled by cheap borrowing costs, have given sellers more leeway to raise asking prices. And it did not disappoint as November (the latest data) showed the 20-City Composite Home Price Index soared 9.08% YoY… the fastest pace since May 2014.

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Portland Journalist Andy Ngo Flees U.S. Amid Death Threats From Antifa

Image

Journalist Andy Ngo, whose parents fled to the US from Vietnam in 1978, has become a political refugee himself, fleeing to London, saying he received death threats from Antifa over his coverage of the movement.

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Accurate List of 2020 Election Fraud Shows 81 Cases, 30 Still Active – And NOT ONE SINGLE COURT Has Allowed Evidence to be Argued

(Joe Hoft) The 2020 election will go down as arguably the greatest fraud in world history.  The tremendously popular incumbent candidate, President Trump, was easily winning the race on election night in a landslide and then suddenly multiple states took a break, quit counting, and by the end of the week the election was flipped to Joe Biden.

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CA Person Dies Within Hours Of Receiving The Jab

Multiple agencies are investigating the cause of death of an individual who died Thursday January 21st, hours after receiving the COVID-19 vaccine, the Placer County Sheriff’s Office announced on Saturday.

Full article

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CNA Nursing Home Whistleblower: Seniors Are DYING LIKE FLIES After COVID Injections!

Massive Silver Bets As Treasury Wants More Trillions To ‘Build Back Better’

(Jhanders) Soon to be confirmed, US Treasury Secretary Janet Yellen made the case earlier this past week for many more trillions in stimulus and infrastructure spending. All, of course, will be financed out of thin air and rationalized given the viral shock to the economy and still current historically low-interest rate regime.

Of course, ours is not the only privately owned central bank in the world, creating currency out of thin air and adding to their balance sheet.

This year 2021, we can again expect the private Federal Reserve’s balance sheet to balloon as the US government rolls over and refinances a record $8.5 trillion in government IOUs.

Silver Gold Market Update

Simultaneously this week, as Janet Yellen was selling our spending many more trillions we have not saved, a record-sized one day inflow of over $1/2 billion showed up in the silver derivative markets.

Silver bulls are again laying down long bets assuming silver spot prices will rise given all the upcoming trillion in stimulus behind and ahead.

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D.C. Mayor Bowser: Dem-Led House, Senate Will Pass D.C. Statehood, Bring It to Biden’s Desk

(Pam Key) Washington D.C. Mayor Muriel Bowser told  “Just the News” on Friday that the Democratic-led Senate and House will vote in favor of statehood for the District of Columbia and send the bill to President Joe Biden’s desk, who has expressed support for D.C. statehood in the past.

Bowser said, “The nation’s capital, the federal enclave, continues to exist as the nation’s capital and everything outside of those new boundaries becomes the 51st state. Our congresswoman – we had our first successful vote on statehood in the House of Representatives last year. She reintroduced the bill. She has a record number of sponsors.”

She continued, “It is going to be reintroduced in the Senate in a couple of weeks, and we expect to have a favorable vote in the Senate as well, and then it goes to the president of the United States. We have made a big focus to President Biden to support D.C. statehood and make it part of his 100-day agenda.”

She added, “Just like you, we pay the same federal taxes as every citizen of the fifty states of the U.S. expect we do not have two senators. We literally have no one to speak for us in the Senate. We have to have full representation.”

Source: by Pam Key | Breitbart

Carlsbad, CA Says No More to Lockdowns

(John Tanmy) It’s been said off and on over the decades that California is a bellwether of sorts. What happens there is a preview of what’s going to happen elsewhere in the U.S.

“I’m not willing to give up without a fight — I’m just not.” – Annie Rammel, Carlsbad, CA restaurant owner.

In the late 1970s the passage of Proposition 13 foretold a national tax revolt. Californians used a referendum to limit the tax power of grasping politicians in the Golden State, and the push back eventually went national.

A different, more local revolt began last weekend in Carlsbad, CA, a town just north of San Diego. Its restaurant and bar owners decided they’re weren’t going to take it anymore. They’re no longer going to allow witless politicians to destroy what they’ve worked so long to build. They’re going to open their businesses to eager customers.

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Articles of Impeachment Filed Against Biden by GOP Freshmen Rep. Marjorie Taylor Greene

Newly-elected Rep. Marjorie Taylor Greene (R-Ga.) on Jan. 21 announced she has introduced articles of impeachment against the new president, Joe Biden.

Then-Georgia Republican House candidate Marjorie Taylor Greene at a press conference in Dallas, Georgia on Oct. 15, 2020. (Dustin Chambers/Getty Images)

The articles of impeachment concern Biden’s alleged actions involving a “quid pro quo” deal in Ukraine and alleged abuse of power “by allowing his son, Hunter Biden, to siphon off cash from America’s greatest enemies Russia and China,” Greene’s office announced in a statement just a day after Biden was sworn in as the 46th U.S. president. Continue here, Epoch Times

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Video: Biden’s Earpiece Says ‘Salute The Marines’, So He Says “Salute The Marines” Out Loud, Doesn’t Salute Them

Article  Video

 

California Halts COVID Vaccinations From Moderna Batch Linked To “Unusually High Number” Of Adverse Reactions

As the suspected death toll attributed to COVID-19 vaccines rises around the world, with dozens already reported in the US and Norway, California health officials have asked health-care providers in the state to immediately stop administering a batch of Moderna COVID-19 jabs after an “unusually high number” of adverse reactions were linked to it, according to RT.

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Homeland Security Committee Releases Report Outlining Biden Family Selling U.S. Policy for Personal, Financial Gain

(The Conservative Tree House) The Senate Homeland Security and Governmental Affairs Committee finalizes a report [pdf available here] with evidence of Joe and Hunter Biden conducting financial deals with foreign governments.  The report outlines how the Biden family sold access to government policy for personal financial benefit.

[Embed pdf Below] Considering the scale of evidence showing massive conflicts of interest, it is quite astounding that Joe Biden is currently ‘president-elect’…

What Every Bitcoin Investor Needs To Know

 

(Kitco News) – Bitcoin is one of the most unequally distributed assets in the world, with just under half a percent of all bitcoin investors owning more than 80% of all bitcoins, and should they liquidate, the market could see a substantial sell-off, said Ryan Giannotto, director of Research at GraniteShares ETFs.

 

“It’s a major challenge for the asset class: it’s intended to be a financially democratizing force, yet it is so profoundly distributed in an unequal fashion. It’s really unlike anything we’ve ever seen. This is one of the perils of bitcoin investing that go unreported, undiscussed,” Giannotto said. “It is a seriously cornered asset class.”

Five hundredths of a percent of bitcoin investors control over 40% of all bitcoin, and just under half a percent of all bitcoin investors control over 5/6ths, or 83%, of bitcoin, he noted.

Most of these larger stakeholders, or “whales” as they are referred to as in the crypto community, are early adopters of bitcoin.

If these early adopters of bitcoin were to sell their holdings altogether, that would exceed the daily trading volume, effectively “wiping out” the asset, Giannotto said.

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CA EDD Fraud Estimate Balloons Over $8 (Billion)

(Michael Finney) The amount of unemployment funds stolen from California taxpayers in 2020 may total more than $8 billion — four times higher than estimated just one month ago. The numbers are staggering; the solutions elusive. As our sister station KGO-TV found out, even states credited with cracking down on fraud have had issues. Since the start of the pandemic, we’ve shared countless stories of struggling Californians desperate to get their unemployment benefits.

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Matthew 24:6 You Will Hear Of Wars And Rumors Of Wars, But See To It That You Are Not Alarmed. Such Things Must Happen, But The End Is Still To Come.

Washington, D.C.: Barriers going up — Troops are on the streets

Michael Yon is recognized as the most experienced American combat correspondent alive today.

(Michael Yon) I’ve been spending long days and nights with Rudy Giuliani and team. Historical times. As you know, I am not on the President’s team and never have been. I spent the vast majority of my time for last twenty years overseas, not prowling around D.C. I spent very little time in America for nearly any part of Bush, Obama, or Trump time in White House. Most of this time has been in some sort of war or conflict.

Those who follow my work for many years know that I am careful with my words, and that I am amazingly accurate on my stated predictions in conflicts. I have never seen any country that I am more sure is heading into revolution, and civil war. All compass needles point this direction.

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2020 Was a Snack, 2021 Is the Main Course

One of the dishes at the banquet of consequences that will surprise a great many revelers is the systemic failure of the Federal Reserve’s one-size-fits-all “solution” to every spot of bother: print another trillion dollars and give it to rapacious financiers and corporations.

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NYC Restaurant Operators Furious Over Indoor Dining Ban After Data Shows Restaurants Account For only 1.4% Of Flu Cases

(Tanay Warerkar) Yesterday, we reported that with in parallel with Andrew Cuomo’s decision to once again shut down indoor dining in New York starting Monday, more than half of the city’s restaurants are in danger of closing. Yet as Eater New York reports, many in the New York hospitality industry were dismayed by Cuomo’s decision as it followed close on the heels of new state data which showed that restaurants and bars in the state accounted for just 1.4% of cases over the last three months. While most were prepared for the ban to be announced this week, many felt the decision seemed to contradict the data.

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The Squeeze Is On: Work From Home Creates Historic Commercial Real Estate Acquisition Opportunities

“I don’t see any way of avoiding a great deal of pain in the commercial real estate market in 2021. It is almost inevitable. My friends at the Federal Reserve and FDIC are becoming increasingly uncomfortable with what’s going on in the commercial real estate world.”

Cam Fine, Former President of Independent Community Bankers of America

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╬ ミ d a r k w i n t e r ミ ╬ – Millions Of Americans Are Expected To Lose Their Homes

dark covid winter is descending on the working-poor of America as millions of adults face eviction or foreclosure in the next few months. Bloomberg, citing a survey that was conducted on Nov. 9 by the U.S. Census Bureau, shows 5.8 million adults face eviction or foreclosure come Jan. 1. That accounts for 32.5% of the 17.8 million adults currently behind rent or mortgage payments. 

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CA Tax Revenue Windfall Creates Political Dilemma: What to do with it

California has an unexpected and welcome revenue windfall, but it creates a dilemma on what to do with it.

(Dan Walters) As Gov. Gavin Newsom makes the final decisions on writing a 2021-22 budget, he’s receiving some good revenue news from his bean counters.

During the first four months of the 2020-21 budget cycle, which began on July 1, state general fund revenues were more than $11 billion higher than the apocalyptic estimates on which the budget was based. Moreover, the windfall could easily double to $26 billion in the first months of 2021, according to the Legislature’s budget analyst, Gabe Petek.

What happened?

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L.A. Home Sales Soar As California’s Housing Market Defies Pre-Great Reset COVID Plandemic

L.A. Home Sales Soar as California’s Housing Market Defies Covid

(Alex Tanzi) — When it comes to L.A. real estate, “Sunset” is still selling — even nine months into the pandemic.

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JPMorgan: ‘Orderly’ Trump Win Is The Most Favorable Outcome For Equities

LONDON (Reuters) – U.S. investment bank JPMorgan expects the S&P500 index to surge to 3,900 points if U.S. President Donald Trump is re-elected next week, calling such an outcome the most favorable for stock markets.

A rise to 3,900 would mark a 12.6% jump from Friday’s closing level.

A clean sweep by Democrats would be “mostly neutral” for markets, JPM said in a note received on Monday, adding: “We see an ‘orderly’ Trump victory as the most favorable outcome for equities.”

The odds of a “blue wave” have narrowed slightly since mid-October. Former vice president Joe Biden has a substantial lead in national opinion polls, although the contest is closer in battleground states likely to decide the race.

JPMorgan said several of its data gatherings, such as voter registration, Twitter sentiment, point to a “tightening race”. The bank sees a gridlock in the election as a “net positive” for stocks.

Within sectors, JPM sees beaten down energy and financial stocks to likely be key beneficiaries of a Trump victory, while a Biden win could trigger a rotation from U.S. growth stocks to non U.S. growth stocks, given the risk of higher taxes.

“We find that energy, financials and healthcare sectors could likely see the most outsized moves as they have been explicitly referenced by each candidate on the campaign trail,” the bank added.

Source: by Thyagaraju Adinarayan | Reuters

How We Got Surging Home Prices

Terminal (Money) Velocity? The Missing Existing Home Sales Inventory And Collapsing Money Velocity

(Anthony B. Sanders) Have you ever wondered why the inventory of existing home sales have crashed since the housing bubble of the early/mid 2000s?

If I overlay the median price of existing home sales with low inventory and low money velocity, we get surging prices.

Poor Kristy Swanson.

Source: by Anthony B. Sanders | Confounded Interest

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New Home Sales Tumble In September As Average Price Hits Record High

U.S. new home sales drop; record low mortgage rates underpinning demand

BofA: Fed Will Use Digital Dollars To Unleash Inflation, Universal Basic Income And Debt Forgiveness

When we recently described the upcoming “Unprecedented monetary overhaul” which will come in the form of the Fed sending out digital dollars directly to “each American”, we explained that “absent a massive burst of inflation in the coming years which inflates away the hundreds of trillions in federal debt, the debt tsunami that is coming would mean the end to the American way of life as we know it. And to do that, the Fed is now finalizing the last steps of a process that revolutionizes the entire fiat monetary system, launching digital dollars which effectively remove commercial banks as financial intermediaries, as they will allow the Fed itself to make direct deposits into Americans’ “digital wallets”, in the process enabling truly universal basic income, while also making Congress and the entire Legislative branch redundant, as a handful of technocrats quietly take over the United States.”

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Half Of Europe’s Small Businesses Face Bankruptcy As CCP Virus Cases Spike

European equities slumped to near one-month lows on Thursday, as soaring COVID-19 cases across the continent weighed on sentiment. In recent months, virus cases have spiked across Europe, with Spain becoming the first country on the continent to surpass the one million infection mark. At the same time, Italy has just set a record increase in daily cases.

The surge in European coronavirus cases has shifted sentiment lower for businesses, with downside risks emerging for the continent’s economy in the fourth quarter. 

Bloomberg, citing a new McKinsey & Co. survey conducted in August, describes a particularly gloomy outlook for Europe’s small and medium-sized businesses, warns that at least half of them could enter into bankruptcy proceedings in the next year if revenues continue to stagnate

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U.S. Existing Home Sales Soar To Highest Since 2006

Existing home sales soared 9.4% MoM in September, almost double the +5.0% expectation.

This is the highest level of sales since May 2006…

Now that’s a ‘V’…

Median home prices soared 14.8% from last year to $311,800 amid a tumble in inventory to just 2.7 months supply.

Source: ZeroHedge

Wisconsin Confirms Foxconn’s Taxpayer-Backed LCD ‘Factory’ Isn’t Real

Days before the State of Wisconsin denied Foxconn’s request for state tax credits – in the form of direct payments from the state to Foxconn’s bank account – related to the “factory” built by the world’s largest contract tech manufacturer in Mount Pleasant, Wisconsin. The project was announced shortly after President Trump’s upset election victory, but quickly ran aground as reporters complained that the facility being built by Foxconn bore little resemblance to the enormous Gen 10.5 LCD factory the company had promised.

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Fed Lays Out Why They Want To Flip The World Into Digital Dollars

(ZeroHedge) In what remains the most under covered financial topic of the year, if not century, we remind readers that starting about a year ago, central banks around the world launched an unprecedented if stealthy attempt to overhaul the entire monetary architecture of fiat money by implementing digital dollars, a transformation to a cashless society which in recent months has also received the tacit support of Congress, which is actively drafting bills to send “digital dollars” to the unbanked. For those just catching up, read the following recent articles:

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San Fran’s New Normal: Third Walgreens In A Year Is Closing Due To “Rampant Shoplifting”

The effects of allowing chaos to prevail in liberal run cities across America might not be obvious to liberals now, but when their cities empty out completely, it’s going to become crystal clear.

Such is the case in San Francisco, where the city’s new normal of shoplifting and chaos has driven another Walgreens pharmacy out of the city. 

The move to close the Walgreens at Van Ness and Eddy came after “months of seeing its shelves repeatedly cleaned out by brazen shoplifters”, according to the SF Chronicle. The location served “many older people” who lived in the area. 

One customer told the paper: “All of us knew it was coming. Whenever we go in there, they always have problems with shoplifters.”

The same customer photographed someone in the store, days prior, “clearing a couple shelves and placing the goods into a backpack”. Because when there’s no police and politicians are afraid to enforce the law – why not?

The penalty for shoplifting is a “nonviolent misdemeanor” that carries a maximum sentence of 6 months. But in most cases, for simple shoplifting, the criminal is simply released with conditions.

The customer, who lives a block away, said: “I feel sorry for the clerks, they are regularly being verbally assaulted. The clerks say there is nothing they can do. They say Walgreens’ policy is to not get involved. They don’t want anyone getting injured or getting sued, so the guys just keep coming in and taking whatever they want.”

American Home Builder Sentiment Soars To New Record High

Well, you have to laugh really. Amid the greatest economic contraction in US history, rising social unrest, ongoing extreme unemployment, and demands for further trillions in handouts from the government (or the world will come to an end), there is one group that is ‘loving it’!

According to the National Association of Home Builders, home builder sentiment has surged to a new record high at 85 in October…

The October reading was stronger than the expected 83, and marked the sixth straight month builder sentiment has exceeded the consensus estimate.

By region, builder sentiment in the West and Northeast rose to the highest levels on record, while confidence eased in the South and Midwest.

The NAHB’s gauge of current single-family home sales rose by 2 points to a record 90 in October, while a measure of the outlook for purchases climbed 3 points to an all-time high of 88. The group’s index of prospective buyer traffic held at 74.

“The concept of ‘home’ has taken on renewed importance for work, study and other purposes in the Covid era,” Chuck Fowke, chairman of NAHB, said in a statement.

“However, it is becoming increasingly challenging to build affordable homes as shortages of lots, labor, lumber and other key building materials are lengthening construction times.”

Home buyer sentiment has rebounded but remains drastically below previous peak levels…

Does make one wonder…maybe we should have pandemics (and riots) more often?

Source: ZeroHedge

“Americans Must Wake Up To The Ugly Reality” – China Is Now The World’s Largest Economy

(by Graham Allison) China has now displaced the U.S. to become the largest economy in the world. Measured by the more refined yardstick that both the IMF and CIA now judge to be the single best metric for comparing national economies, the IMF Report shows that China’s economy is one-sixth larger than America’s ($24.2 trillion versus the U.S.’s $20.8 trillion). Why can’t we admit reality? What does this mean?

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China Tells Local Mills To Stop Using Australian Cotton And Ore, On Heels Of CCP Flu Probe

While the rapid deterioration in diplomatic relations between the US and China has been put on hiatus until after the election, at which point Beijing hopes that a Biden administration would promptly restore amicable relations between Beijing and DC, trade relations within the Pacific Rim region are getting worse by the day, with nobody getting more impacted by China’s desire to flex its muscles than Australia: escalating bilateral tensions have resulted in China’s “unofficially” asking cotton and ore traders to stop buying products from Australia.

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U.S. Industrial Production Unexpectedly Tumbled In September

After slowing its rebound dramatically in August, analysts expected another small lift in September, but Industrial Production disappointed gravely, falling 0.6% MoM (against expectations of +0.5%)…

The big driver of the plunge in industrial production was utilities (plunging 5.6%) as demand for air conditioning fell by more than usual in September. Mining production increased 1.7 percent in September; even so, it was 14.8 percent below a year earlier….

US manufacturing also dropped in September, sliding 0.3% MoM (against expectations for a 0.6% rise)…

This leaves US Industrial Production unchanged since May 2006…

The “V” recovery is over!

Source: by ZeroHedge

China Sells Dollar Bonds Directly To US Buyers For The First Time, Gets Record Demand

On Thursday, China for the first time sold dollar-denominated bonds directly to US buyers and with the Chinese 10Y offering a record 2.5% pickup in yield compared to 10Y Treasuries, it’s hardly a surprise that demand was off the charts.

The $6 billion bond offering which took place in Hong Kong, drew record demand, in part due to the attractive yield offered by Chinese paper and in part due to China’s impressive recovery from the coronavirus, with an orderbook more than $27 billion, or roughly $10 billion more than an offering of the same size last November, according to the FT, which added about 15% of the offering went to American investors.

The $6BN USD-denominated bond offering was as follows:

  • $1.25BN in 3-year dollar bonds at 0.425%
  • $2.25BN 5-year dollar bonds at 0.604%
  • $2BN 10-year dollar bonds at 1.226%
  • $500MM 30-year dollar bonds at 2.310%

The yield on the 10-year bond was about 0.5% above the equivalent US Treasury, and helped the bond sales receive “a strong reception from US onshore real money investors”, said Samuel Fischer, head of China onshore debt capital markets at Deutsche Bank, which helped arrange the deal. Other arrangers of the bond sale included Standard Chartered, Bank of America, Citigroup, Goldman Sachs and JPMorgan.

What was unique about today’s offering is that unlike previous issuance, “the debt was sold under a mechanism that gave institutional investors in the US the chance to buy in.”

Somewhat surprising is that frictions between Beijing and Washington had no impact “at all” on demand from US buyers, which included an American pension fund, one banker told the FT. In fact, the strategic timing of the bond sale which was arranged by the Chinese government just weeks before Americans head to the polls for the presidential election was meant to show “how tightly the financial systems of the two countries are linked, despite a trade war and tensions over technology and geopolitics.”

“This is the investor community showing confidence in [China’s] recovery,” said another banker on the sale, who added that “US investor participation in Chinese paper is not reduced by any means.”

Analyst responses were broadly enthusiastic about the offering:

Hayden Briscoe, head of fixed income for Asia Pacific at UBS Asset Management, said the bonds would help “set the benchmark” for Chinese corporates such as petrochemical groups Sinopec and Sinochem, which also borrow in dollars.  “A lot of their expenses are in US dollars, and they borrow in the dollar market to match funds to that.”

He added that the bonds benefited from strong demand partly due to their scarcity value. “There’s so few of them and they suit sovereign wealth fund type buyers — they tend to just disappear.”

Source: ZeroHedge

Goodbye Middle Class: Half Of All American Workers Made Less Than $34,248.45 Last Year

If you are making less than $3,000 a month, you have plenty of company, because about half of the country is in the exact same boat.  The Social Security Administration just released new wage statistics for 2019, and they are pretty startling.  To me, the most alarming thing in the entire report is the fact that the median yearly wage was just $34,248.45 last year.  In other words, half of all American workers made less than $34,248.45 in 2019, and half of all American workers made more than $34,248.45.  That isn’t a whole lot of money.  In fact, when you divide $34,248.45 by 12 you get just $2,854.05. 

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Mortgage Rates Hit Record Low For 10th Time This Year

In a world where over $16 trillion in debt now trades with negative yields…

… the US remains one of the outliers where nominal yields are still positive (if not for too long). Still, with rates in the US remaining caught in a tight range, and as bank funding conditions increasingly normalize, it means that yields on mortgages continue to shrink, and sure enough according to the latest Freddie Mac data, the average yield for a 30-year, fixed loan dropped to 2.81%, down from 2.87% last week, which was not only the lowest in almost 50 years of data-keeping, but also the 10th record low this year.  The previous all time low – 2.86% – held for about a month.

The availability of record cheap loans – which is unlikely to change with the Fed signaling it will hold its benchmark rate near zero through at least 2023 – has fueled a home buying spree which while bolstering the pandemic economy, has resulted in yet another bubble (for more details see Visualizing The U.S. Housing Frenzy In 34 Charts)

Meanwhile,  the surging demand for the scarce supply of properties on the market is pushing up prices, putting home ownership out of reach for many Americans, and leading to even greater wealth inequality which, as a reminder, is how we got here in the first place. Adding insult to injury, lenders have tightened credit standards to near record levels, presenting another potential obstacle for would-be buyers.

“It’s important to remember that not all people are able to take advantage of low rates, given the effects of the pandemic,” Sam Khater, Freddie Mac’s chief economist, said in the statement.

Source: ZeroHedge

Wells Fargo Fires Over 100 Employees For Stealing Virus Relief Funds

First JPMorgan admitted that over 500 of its generously paid employees had “illegally pocketed” covid-relief funds and then summarily fired most of them – and now it’s chronic lawbreaking recidivist Wells Fargo’s turn.

The bank, whose stock tumbled today after reporting dismal results and then was hit with even more selling after cutting its net interest income outlook, has fired more than 100 employees for illegally getting covid relief funds which were meant to help small businesses, Bloomberg reported citing a person familiar.

 

Warren Buffett’s favorite bank uncovered dozens of employees who defrauded the Small Business Administration “by making false representations in applying for coronavirus relief funds for themselves,” according to an internal memo reviewed by Bloomberg. Similar to JPMorgan, the abuse was tied to the Economic Injury Disaster Loan program and was outside the employees’ roles at the bank, according to the memo.

“We have terminated the employment of those individuals and will cooperate fully with law enforcement,” David Galloreese, Wells Fargo’s head of human resources, said in the memo. Wells Fargo’s actions follow JPMorgan Chase & Co.’s finding that more than 500 employees tapped the EIDL program which hands out as much as $10,000 in emergency advances that don’t have to be repaid, and dozens did so improperly.

The bank “will continue to look into these matters,” Galloreese added, saying the employees’ abuse didn’t involve customers… for once. “If we identify additional wrongdoing by employees, we will take appropriate action.”

As Bloomberg notes banks were urged by the SBA to look out for suspicious deposits from the EIDL program to their customers and even their own staff, after an analysis identified that at least $1.3 billion was sent out from the SBA for suspicious payments. While the program offers loans to businesses, much of the concern has focused on its advances of as much as $10,000 that don’t have to be repaid.

Wells Fargo is best known for its role in a massive account fraud scandal in which the bank created millions of fraudulent savings and checking accounts on behalf of Wells Fargo clients without their consent over a 14-year period. The fallout led to the bank paying $3 billion to settle criminal charges and former CEO John Stumpf losing his job after a historic Congressional grilling, while also agreeing pay a personal $17.5 million fine. In 2018, Wells Fargo agreed to an unprecedented consent order from the Fed which capped the size of its balance sheet and limited how many loans the bank can issue, one of the factors behind the dismal performance of its stock in recent years, which even prompted Warren Buffett to finally dump some of his Wells Fargo holdings.

Source: ZeroHedge

Bankrupt Restaurant Chains Are Handing Keys To Their Lenders

With few buyers willing to take a risk, credit bids become far more common in bankruptcy sales, says RB’s The Bottom Line.

Shutterstock

(Jonathan Maze) Last week, California Pizza Kitchen canceled its auction after no worthy bidders came forward to buy the casual-dining chain. The result: The company will likely end up in the hands of its lenders.

That came the same week that Ruby Tuesday started its bankruptcy process with a plan that hands the keys to the chain to its lenders.

Such deals are far from uncommon and totally understandable. But it’s indicative of the state of the business that once-venerable chains can’t even scrounge up bidders to help fuel bankruptcy auctions.

Indeed, several companies that have filed for bankruptcy since the pandemic have ended up sold in credit bids. CraftWorks, the owner of Logan’s Roadhouse and Old Chicago that declared bankruptcy before the pandemic, was sold through a credit bid in May. Aurify Brands acquired both Le Pain Quotidien and Mayson Kaiser by first acquiring the debt for the two brands and then using that to take over the company.

To get an idea of why this is happening now, we asked Petition, a journalist who covers corporate bankruptcies and restructuring, to get an idea of what’s going on.

“With too many restaurants per capita pre-pandemic and uncertainty about COVID-19 heading into winter, strategic buyers are scurrying to their foxholes to avoid the shakeout,” they said. “Existing lenders have no choice but to play out their option, hoping that less competition, strong digital adoption and execution, a slimmer balance sheet, a reduced footprint and focused management will bridge them to an industry comeback.”

To be sure, the companies above occupy some of the most challenging sectors or sub-sectors during the pandemic.

Both Le Pain Quotidien and Maison Kayser, for instance, are bakery-cafe concepts in urban areas. Those types of concepts face an uncertain future thanks to empty offices as consumers work from home, along with a potential flight of residents toward the suburbs.

Ruby Tuesday has been struggling and shrinking for more than a decade. It has closed nearly half of its units since 2017 and is less than a third of the size it was back in 2008. Bar and grill casual dining itself faces significant questions—TGI Fridays, once the leading casual-dining chain, is also shrinking.

California Pizza Kitchen is another casual-dining chain. But it was built around pizza. Consumers have shifted much of their pizza consumption to delivery, leaving full-service pizza concepts behind.

Buyers simply aren’t ready to take the plunge on those types of concepts. The business for dine-in sales is weak. It is also expected to remain weak for some time. That leaves the companies with little choice but to hand the keys to the lenders and walk away.

Any buyer of such chains will want that company reduced to only the most profitable locations. And they’re going to want that company for a considerably smaller price than the face value of the secured debt.

A lot of investors live to buy concepts through credit bids. They buy the secured debt on the secondary market, often for considerably discounted prices—lenders, believing they’ll be unlikely to get their money back and eager to get an unworkable loan off the books, will sometimes sell the debt at a discount.

Investors step in and buy the debt cheap. That can give them the inside track when a company ends up in bankruptcy. If a buyer willing to pay the face value of the debt emerges during an auction, the investor can make money based on the discount they paid for that debt. If not, they get the chain and can run it until the situation improves.

But such sales can often prolong the life of a chain that wouldn’t survive on its own, extending the life of “zombie” chains that aren’t growing and aren’t innovating and simply exist. The pandemic, of course, is creating zombies in all sorts of industries. Restaurant chains included.

Source: by Jonathan Maze | Restaurant Business 

San Francisco Sales Tax Revenue Plunge “Worst In The State” Amid COVID Exodus

ZeroHedge observed many times throughout the pandemic that the coronavirus-related lock downs, especially as impacting restaurants, bars, theaters and other night venues, have made living in already expensive big cities like New York much less attractive

It appears this trend of people ‘escaping’ the big cities as the prime lure of being there has largely evaporated — also after a summer of chaotic race and police shooting related protests and mayhem  is poised to hit San Francisco, despite it previously witnessing steady population growth over the past three decades. New tax numbers freshly out suggest a major exodus is already in progress.

But for the first time in recent history, and as the city’s large tech employers like Google, Facebook and Uber have kept their employees at home working remotely, city data shows that “Sales tax data shows San Francisco’s population likely declined during the coronavirus pandemic,” according the city’s chief economist Ted Egan.

The San Francisco Chronicle reports a whopping shortfall in revenue, detailing that “From April to June, the city’s sales tax revenue dropped to $30.8 million, down 43% from the prior year.” 

While this is the kind of thing other cities have naturally also experienced over the course of pandemic closures of venues, many have been able to close the gap given simultaneous growth in taxable online sales as households turned to Amazon, Wal Mart and other home delivery services. 

Not so with San Francisco, however, the report underscores:

San Francisco’s taxable online sales were up only 1% in that three-month period compared to the same period a year ago, while other California cities saw gains over 10% as people ordered more home deliveries. The modest increase likely shows that residents left the city entirely and weren’t at home to receive packages, Egan said.

“We’re the worst in the state,” he said. “That’s a sign to me that people aren’t here.”

No doubt compounding the trend is the past years of perhaps the most left-wing city policies in the country, a reflection of what conservatives derisively write off as “San Francisco values” and what even NPR has lately dubbed “San Francisco Squalor”.

After all, who really wants to pay a million dollars for some posh condominium in the city, only to walk out into needle and feces strewn streets?

Restaurant and bar sales were down 65% as indoor dining was prohibited, while food and drug store sales were down 8%. (Food staples at grocery stores aren’t taxed but prepared meals and other items are.)

Other metrics like falling apartment rents and busy moving companies suggest the population decline, though it’s too early to tell how many people have left, Egan said.

Considering too that major tech companies like Microsoft are using the pandemic to make dramatic changes like allowing most employees to work from home on a permanent basis, it doesn’t look like those making a recent ‘escape’ from San Francisco will be moving back anytime soon.

Source: ZeroHedge