Lots of interesting News.
The Controlled Demolition of the Banking System continues
Fed hikes despite the fall of First Republic and knowing the hike will do nothing against inflation caused by collusion and intentional supply disruptions.
Meanwhile Hedge Fund speculators short other banks trying to make a buck, hoping to cause more collapses. The Hedge Funds are partners with the BIS Systemically Important Banks (SIB’s notice how in reverse this is BIS) that are Too Big To Jail
Pam and Russ Martens make a good point here
Short-selling is where a speculator borrows shares from his brokerage firm and then sells the shares on the expectation that the shares can be repurchased later at a lower price, thus locking in a profit for the speculator. The Financial Times reported on April 5 that
“Hedge funds made more than $7bn in profits by betting against bank shares during the recent crisis that rocked the sector, their biggest such haul since the 2008 financial crisis.”
Given the massive losses in regional bank stocks this week, that $7 billion figure now likely tops $10 billion or more.
On September 19, 2008, during the collapse of financial institutions on Wall Street, the SEC halted short selling in 799 financial institutions. The counterpart to the SEC in the U.K., the Financial Services Authority, took similar action.
The statement released by the SEC to announce its decision said in part:
“This decisive SEC action calls a time-out to aggressive short selling in financial institution stocks, because of the essential link between their stock price and confidence in the institution. The Commission will continue to consider measures to address short selling concerns in other publicly traded companies.
“Under normal market conditions, short selling contributes to price efficiency and adds liquidity to the markets. At present, it appears that unbridled short selling is contributing to the recent, sudden price declines in the securities of financial institutions unrelated to true price valuation. Financial institutions are particularly vulnerable to this crisis of confidence and panic selling because they depend on the confidence of their trading counterparties in the conduct of their core business.”
This year, in the span of seven weeks, running from March 10 to this past Monday, May 1, the second, third, and fourth largest bank failures in U.S. history have occurred. In respective order, those are First Republic Bank, Silicon Valley Bank and Signature Bank. (The largest bank failure in U.S. history, Washington Mutual, occurred in 2008 during the financial crisis.)
Where is the decisive action on short selling of bank stocks from the SEC this time around?
Of course, the head of the SEC is on the BIS Financial Stability Board tasked with looking out for BIS SIB’s, along with Powell (Fed ) and Yellin (Treasury).
Who is running this country? Maybe the BIS is the top General of the Military Industrial Everything Complex
Meet the boss, or at least one of them
Wagner threatening to withdraw from Bakhmut on May 10 due to lack of support from Russian Military
I don’t know about you but I consider that treason. Is Prigozhin that powerful that he can spit on the Russian Military Leaderships face and their Commander in Chief Putin? If so I would say Wagner is an existential threat to the Russian Federation at some point.
I bet NATO would love to recruit Prigozhin and have him liberate Russia and dethrone Putin in an exchange , riches for Wagner and Prigozhin and opening up markets to the West like in the Yeltsin years, not to mention turning away from China, Iran and Syria and handing over Crimea.
Or is this just a ruse? Perhaps to get Ukraine to see an opportunity to retake Bakhmut and direct their counteroffensive in this area.
Frankly speaking , I don’t really understand why Russia does not pull out and just carpet bomb Bakhmut. Its not like there are any civilians left, and the city is mostly rubble anyways, and Ukraines air defenses are supposedly depleted.
That said, I am no military guy so there may be good reasons.
Maybe this is just an excuse to prolong the war by giving Ukraine a breather and time rebuild their strength. I have said more than a few times it seems the main objective of Putins Forever war is to depopulate Ukraine and allow Russia and Western Corporations to seize resources. This allows the Western Elites to fulfill the WEF mandate to destroy the Anglo-Americans-EU Economies so they can do a Great Reset and Build Back Better Better with drastically lower living standards and consumption for the bottom 90%
If this is true Putin is just a Globalist Puppet, a Trojan Horse for Russia like Trump is for the US
Strengthening my opinion is the recent news from Edward Slavsquat that all that Oil Russia has shipped to India, which they knew was going to be sent to the West was paid in indian Rupee’s which is pretty much worthless to Russia outside India. I get selling them Oil for Currency other than the USD but if you get Monopoly Money you might as well just keep the Oil and let the price rise due to short supplies. It seems this was contrary to Russias interests.
But what do I know?
Moving on from Russia and Ukraine we have CDC Director Walensky moving on. I find this perfectly understandable. She was a front man for unpopular COVID policies. WHO and the US are closing the book on Operation COVID which began under the Trump Administration in 2017. Fauci and Walensky are uncomfortable reminders. Both are now gone. Fresh Start. Walensky will no doubt be well rewarded back in the private sector where she can enjoy her blood money
For any Hopium Addicts reading this, there is no Win here. She did the job she was tasked with. Mission Accomplished. They will roll out a new Pandemic at some point with a fresh face, perhaps with somebody you trust who got it right with COVID. They earned your trust and will be able to convince you that with the new Virus you must Trust the New Science.
A new paper in Nature from Taiwan Scientists using a multinational data set with only a paltry number of Asians in it show an increased risk of vision problems due to vascular occlusion after vaccination, about twice the hazard ratio as unvaccinated. No surprise there really, we know the spike clogs up the circulation and eyes like heart, lungs and brain need a steady supply of blood.
https://www.nature.com/articles/s41541-023-00661-7.pdf
My one question for the authors is why couldn’t they have used the Taiwan data set which included 15 million 18-64 year olds (95% of whom are now vaccinated).
For what it’s worth I haven’t seen any reporting of this study here in Taiwan, but maybe I or my wife missed it. One anecdotal bit, my wife had to wait longer than usual for an eye appointment recently. This could mean nothing, or maybe people are having more eye problems
This 2022 retrospective consecutive case series study out of Taiwan documents cases within 6 weeks of undergoing the first dose of COVID-19 vaccinations between May 2021 and October 2021
One of the 11 cases was diagnosed with unilateral central retinal arterial occlusion (CRAO). Vaccinations had only begun in April 2021 and not until summer for non-seniors , so the majority of people had only received 1 dose. Today most have received 3-4 doses
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9843569/
Curiously, this paper released in 2023 finds no association. My money is on the Taiwan papers getting it right.
https://www.nature.com/articles/s41433-023-02459-2.pdf
Since I am talking about Taiwan, get a load of this
Research co-author Wu Wen-chin (吳文欽) told Taiwan News that if Taiwanese see a greater U.S. military presence around Taiwan, their perception that they will receive support in the event of a Chinese attack increases. Wu, a political science researcher at Academia Sinica, said the study shows Taiwanese are accustomed to the military threat from China, but remain responsive to U.S. actions around Taiwan, adjusting their support for Taiwan independence accordingly.
https://www.taiwannews.com.tw/en/news/4880339
Basically he seems to be saying that if Taiwan permits military troops on Taiwan then support for independence grows. SMH.
Independence is a simple word. It means being free of dependence. If you are free of dependence from China (your largest trading partner) but dependent on US military presence for your freedom, you are not independent. You become a defacto Colony of the US, since their presence will come with plenty of strings.
One of the strings is a status of forces agreement (SOFA). These can be rather draconian and one sided
Here is what they tried to get Sri Lanka to agree to
US seeks that aircraft and vessels of the US Government will be free from boarding and inspection and that the US requires an exemption from licences, customs duties, taxes and any other charges within Sri Lanka. Further, the article reads that the US is seeking authorisation for its troops to wear uniforms whilst “on duty” in any part of Sri Lanka while carrying arms and radio communications equipment.
The article says Washington also requires US troops and contractors to be allowed to enter and leave Sri Lanka, individually or collectively, with the use of only their US identification. This will mean they will carry no passports or visas.
https://www.newsfirst.lk/2019/06/30/sofa-agreement-would-be-a-threat-to-sovereignty/
From another source
The US embassy is making the following proposals
US personnel (US military & civilians of US Defense Dept) to be given privileges, exemptions & immunities equivalent to administrative & technical staff of a diplomatic mission under Vienna Convention on Diplomatic Relations of 18 April 1961.
US military & civilians of US Defense Dept be allowed to enter & exit Sri Lanka with US identification, move in groups or individual and Sri Lanka must accept any US identification
US military & civilians of US Defense Dept can drive any vehicle in Sri Lanka even without driving license.
US military & civilians of US Defense Dept will wear uniforms on duty
US military & civilians of US Defense Dept will carry arms on duty
GoSL allows US Govt to exercise criminal jurisdiction over US personnel in Sri Lanka (2 parallel laws running in Sri Lanka)
US Department of Defense & US Personnel will not pay any tax or similar charges in Sri Lanka – does this mean they can refuse to even pay tax if they travel on the Expressway?
US Embassy also wants GoSL to cooperate & take measures to provide security & protection for US personnel, their property, equipment, records & official information in Sri Lanka (all this while US personnel is carrying arms & can travel anywhere in Sri Lanka)
US military & civilians of US Defense Dept can IMPORT / EXPORT anything & be exempt from any inspection, license, other restrictions, customs, duties, taxes within Sri Lanka (exactly why are we having an ARMED FOREIGN FORCE in SRI LANKA US military & civilians of US Defense Dept vessels and vehicles can move FREELY within Sri Lanka and be exempted from any payment.
US military & civilians of US Defense Dept vessels, aircrafts will NOT be subject to payment of LANDING FEES, PORT FEES, PILOTAGE charges, lighterage, harbor dues which will be in FACILITIES OWNED & OPERATED BY GoSL
US military & civilians of US Defense Dept owned and operated aircrafts SHALL NOT BE SUBJECT to PAYMENT of NAVIGATION, OVERFLIGHT, TERMINAL or similar charges by Sri Lanka.
US military & civilians of US Defense Dept aircrafts & vessels shall NOT BE inspected and Sri Lankans CANNOT board them
US military & civilians of US Defense Dept can contract any material, supplies, equipment, services (including construction) to be furnished or undertaken in Sri Lanka without restriction and the guidelines and regulations applicable to them will be that of the US Govt not Sri Lanka
US military & civilians of US Defense Dept acquisition of articles & services in Sri Lanka will not be subject to any taxes or similar charges
US contractors TOO will not have to pay any tax or similar charges in Sri Lanka for activities under SOFA (what exactly are the activities?)
US contractors can import into Sri Lanka & export out of Sri Lanka & use Sri Lanka’s any PERSONAL PROPERTY, equipment, supplies, material, technology, training or service under SOFA & shall be EXEMPT from any license, restrictions, customs duties, taxes or any other charges in Sri Lanka
US contractors are to be given same treatment as US military & civilians of US Defense Dept for driving in Sri Lanka without license.
US military & civilians of US Defense Dept shall enjoy freedom of movement & access to & use of mutually agreed transportation, storage, training & other facilities
US military & civilians of US Defense Dept shall operate its own radio spectrum/telecommunications system and be FREE of COST to US by Sri Lanka
GoSL waives any claims for damages to, loss of, or destruction of property or injury or death to personnel of either party’s armed forces or their civilian personnel arising out of performance of official duties (are we to turn Sri Lanka into a war zone) Third Party claims for damages or loss caused by US military & civilians of US Defense Dept will be according to US laws & regulations
The new SOFA will supersede the one signed on 9 Feb & 16 May 1995 and entered into on 16 May 1995
The US embassy proposes that GOSL & US Govt or their designated representatives may enter into implementing arrangements to carry out provisions of Agreement
On agreement of proposals by US embassy and reply by Sri Lanka’s Foreign Ministry will be taken as AGREEMENT between the 2 Govts (this is seriously dangerous if a ministry is allowed to decide the destiny of an entire country & its populace by way of a letter the contents of which is not known to anyone)
Sri Lanka did not agree. In any event, these are subject to negotiation. The less dependent you are on the US military the better terms you can get
I will say this though. The US had boots on the ground in Vietnam, Taiwan and Afghanistan. When it was in their interests to do so, they said “thank you m’am” zipped up and left.
Consider also that before allowing significant numbers of US troops on the ground in Taiwan that this might be a red line that China uses to invade Taiwan. I suggest that if China ever did invade Taiwan the only support you likely get from US will be from air and naval attacks on China’s military assets and sanctions on China. There will be little the US could do to alleviate the carnage from infrastructure attacks and blockade on Taiwan
But don’t worry the TSMC boys in sunny Arizona will be well protected. Might need to rename it USMC if the Marines allow this
One last note on Taiwan. COVID. At the end of March they began weekly reporting of COVID deaths and COVID cases with complications.
The latter to the best that I can gather are those which they have in the past reported as Moderate and Severe Cases. We have quite good data showing this to be about 0.5% of total cases. Keep this in mind as I go through the data.
The red is cumulative number of cases and percentage with mild or now symptoms. The rest is complicated cases with Moderate being 0.28% and severe 0.2%.
Note that the CFR has typically ranged from 0.15-0.20% which suggests a pretty high hospital mortality rate for those diagnosed as Moderate or Severe.
But first of all, let me break the news. They failed to report last weeks data, this being the first week of COVIDs favorite Month on Taiwan. No apparent explanation on their web site.
Here is the data from the weekly reports
Date. Deaths. Comp Cases Total Cases
2/24-3/23. 35/d. 119/d 9.6k/d
Note-here Complicated is 1.2% of total reported cases and not 0.5%. I think the reason is people had reduced self testing and reporting as the government began downplaying the disease, so for the estimated total cases I will use an average 0.85%
Deaths Comp Cases. Estimate 3/24-3/30. 25/d, 96 p/d. 11.3k/d
3/31-4/6. 15/d, 84 p/d. 9.9k/d
4/7-4/13. 17 /d 86 p/d. 10.1k/d
4/14-4/20. 13/d. 93/d. 10.9k/d
4/21-4/27. 13/d. 99/d. 11.6 k/d
Lets look at the CFR based on this
Date. CFR
2/24-3/23. * 0.36%
*likely high due to underreporting cases in this period
3/24-3/30. 0.22%
3/31-4/6. 0.15%
4/7-4/13. 0.17%
4/14-4/20. 0.12%
4/21-4/27. 0.11%
As you can see the trend is downward, regardless of the uncertainty in the absolute value. So either they are over reporting complicated cases (thus inflating estimated cases) or have tightened up their determination that a death is Covid related. The latter seems more probable, so they are probably now ruling out those who died with but not from COVID and only counting those who died from COVID. Mind you, this is just my best guess.
From this we can estimate that 25-50% of reported COVID deaths throughout 2022 and early 2023 may have been for other reasons.
The other trend to note was the upward number of complicated cases, which is why I eagerly awaited this weeks report and was bitterly disappointed it did not come.😢
Oh well, maybe its for the best. People seem happier, the masks are slowly but surely coming off more peoples faces, and besides the threat of drought, war, earthquakes, egg shortages, bird flu, future power terminations , food plant fires, enterovirus epidemic and typhoons, life is good.