The secret of freedom lies in educating people, whereas the secret of tyranny is in keeping them ignorant. - Maximilien Robespierre.

Showing posts with label bank. Show all posts
Showing posts with label bank. Show all posts

Sunday, January 21, 2024

War On Cash To Escalate In 2024

Visa Files Patent Application: 0200151682 to Create A "Digital Currency."  Corrupt US Officials Plan to Eliminate Physical CASH! 

Early last week Boggart Blog learned Globalists within the US Government and the banking and finance industry have announced a plan to launch a Digital Fiat Currency that would enable seamless transfers of funds between banks and tax jurisdictions as a major step towards banning cash. Bankers and politicians claim this is essential to protect business and private funds against the actions of hostile nations and to eliminate money laundering by organised crime networks. This is bollocks because neither of those goals could possibly be achieved. We, and others in the alt_news environment suspect the real reason for the move is to allow governments, NGOs such as the World Health Organisation (WHO) and World Economic Forun (WEF) to curtail our rights and liberties by being able to remotely (and automatically,) control our finances.

Watch this video to learn more of the long term plan to deny us the right to use cash and thus retain personal control of our finances.

The Great Taking - Documentary
David Webb exposes the system Central Bankers have in place to take everything from everyone.
https://www.youtube.com/watch?v=dk3AVceraTI

The U.S. Patent and Trademark Office (USPTO) website contains a page showing that VisaV +0.2% has filed a patent application to create digital currency on a centralized computer using blockchain technology. This patent applies to digital dollars as well as other central bank digital currencies such as pounds, yen, and euros so the physical currency of a central bank anywhere in the world could be digitized.

Described as ‘Digital Fiat Currency’ the patent was initially filed by Visa on November 8, 2019, with the USPTO commenting today, “It takes quite a while...” to publish the filing of a patent. Visa’s patent is described as a central entity computer that receives requests that include the serial number and denomination of a physical currency.

The creation of the digital currency and the removal of the physical currency from circulation in a fiat currency system is recorded on a blockchain.

The Visa has patent application hints at using the Ethereum (ETH) blockchain as the medium for processing transactions.

The application details two records, one of which would indicate “the digital currency for an amount associated with the denomination has been created for a public key associated with a digital wallet.” 

The other record notes the “removal of the physical currency from circulation in a fiat currency system.”

 
“Every time a unit of digital currency is generated, the central entity ensures that a corresponding physical dollar bill is removed from circulation, to regulate the value of the digital fiat currency.” Unfortunately Ethereum is just a bit suspect to be considered a safe medium for all our financial activity. Other sources report that ETH Founders’ are involved in a fraud bigger than FTX scandal of 2023. 

ETH Linked With Corrupt US Officials
Following his statement of Ethereum allegedly being involved in fraudulent schemes higher than Sam Bankman-Fried’s FTX crypto currency exchange fraud case, Steven Nerayoff disclosed that founders Joseph Lubin and Vitalik Buterin have allegedly been colluding with corrupt US government officials from some of the highest federal agencies. 
 
The lawyer who has insider knowledge of the Ethereum blockchain and the digital currency (ETH) is supports, having worked for the blockchain network previously, has come forward with explosive allegations regarding the actions of Ethereum founders, Vitalik Buterin, and Joseph Lubin.
 
“Ethereum is the fraudulent elephant in the room in plain sight 1000x bigger than FTX,” Nerayoff stated. 
 

The Great Taking Exposes The Financial End Game & The CIA

We are now living within a hybrid war conducted almost entirely by deception and thus designed to achieve war aims with little energy input. It is a war of conquest directed not against other nation-states but against all of humanity. Deep State organisations such as the US CIA have, in collaboration with the World Economic Forum (WEF - a private World Domination Society for billionasirepsychopaths,) have developed plans which would, if We The People tolerate it, take control of everyone's home, car, property, pensions, etc.

Agreements have been reached with world governments including all 50 US States on the plan of consolidating absolute power over everything. The primary documentary evidence adduced by Webb would be sufficient to incarcerate all of these culprits, if not condemn them to capital punishment.

This has been made to happen through the dark magic of false news and propaganda narrative. This alone has been a great crime against humanity. 

LIBRARY:

Keynote Post: The War On Cash - Putting Your Financal Dealings On Line Destroys Your Privacy
Overview article on the reasoning behind the elites bid to abolish cash and a hub for all our posts here and elsewhere on the Cashless Society theme.

CBDC: The Overarching Goal Behind The Digitisation Of Money?
Will World Be Cashless After COVID-19 Pandemic
The War On Cash Begins">

Posh Peoples Banker Humbled By Public Backlash To Authoritarian Debanking Policy
Much discussion in UK media and as far away as The USA and Australia this week has focued on the decision by Coutts (the posh people's bank,) to ‘de-bank’ former UKIP leader Nigel Farage, the political outsider who successfully steered the campaign to take Britain out of the EU to victory in a national referendum. According to Coutts initial responses to media attention the decision was taken because of reputational concerns.

Is Switzerland About To Become First Country To Outlaw A Cashless Society?
As in neighboring Germany and Austria, cash is still king in Switzerland albeit a much diminished one. But the Swiss will soon have the chance to vote on whether to preserve notes and coins indefinitely.

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Beware the dangers of a cashless society
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.

War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive." We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...

Norway's Biggest Bank Joins Push To Abolish Cash
The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.

New Global Crisis Imminent, New Geneva Report Warns The Geneva Report refers to a “poisonous combination of high and rising global debt and slowing nominal GDP [gross domestic product], driven by both slowing real growth and falling inflation”. The total burden of world debt, private and public, has risen from 160 per cent of national income in 2001 to almost 200 per cent after the crisis struck in 2009 and 215 per cent in 2013. “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt to GDP ratio is still growing, breaking new highs,” the report said.

Cashless Society - The Resistance Begins Here
A seaside market town in Norfolk may be less than 100 miles from the world's financial capital, London, , it may be the commercial centre of West Norfolk’ as the town website boasts, it may be home to 45,000 people — but there, unlike in London, cash is king.

Establishment Pushing ‘Cashless Society’ to Control Humanity
The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.Multiple governments from Africa and Asia to Europe and ...

NatWest Imposes New Cash Limits In Latest Push Towards A Cashless Society
NatWest RBS banking group, which owns Coutts, the bank involved in the debanking of Nogel Farage story, and itself largely owned by the government on behalf of We The Taxpayerssince 2009, has granted itself “sweeping new powers” to limit the amount of cash customers can deposit and withdrawal, triggering warnings that banks are operating as a cartel to force customers towards abandoning cash completely and accepting a “cashless society” which would pave the way to electronic surveillance of our financial activity.

COVID To Blame For Inlation Says Economically Illiterate Bank Of England Chief
An interesting insight into the financial crises emerged yesterday as a result of a pissing contest between the current head of the Bank of England, Andrew Bailey, and his predecessor Mark Carney. Carney was always a supporter of the European Union throughout his tenure at the BoE and from 2016 to 2020 was a strong supporter of the 'Remain' campaign and finally of efforts by globalist billionaires and politicians to have the referendum result overturned. He has consistently spoken and published articles claiming Brexit is to blame for everything from inflation to extreme weather events.

U S Regional Bank First Republic Crashes As America's Banking 'Crisis In Confidence' Becomes Contagious
Shares in America's First Republic Bank's crashed when the New York stock market opened for trading this morning. The crash was triggered by a statement issued on Sunday night that sought to ease investor worries about the bank's liquidity situation in the wake of the failure of Silicon Valley Bank. Shares in the San Francisco based regional bank are down 60% on last week's close.

Do We Have A Winter Of Civil Disobedience Ahead?
As many people in Britain slap on the apres sun gloop in the wake of what passes for a heatwave in these cool cloudy climes, our inept politicians caught with their pants down by unusual weather as usual have heard that that winter is coming and are making plans for a coldwave. We are in the grip of an energy crisis at the height of summer. Last week, it was reported that the UK government is laying down plans for a “reasonable worst-case scenario” including blackouts for industry and even households. And this is as energy prices spiral out of control to new records every day.

Britain is Breaking Down; The Economy Is Struggling, Living Standards Are Falling, Institutions Are Failing
Successive governments have brought Britain to its knees.This article will focus on Britain as representative of the general malaise that is afflicting almost all the developed world. Our current crop of politicians have discarded the resources that brought the country out of the post war decline ... In spite of being rich in energy resources Britain is now in an energy crisis, our leaders have sacrificed prosperity on the altar of Net Zero, committing the nation to our reducing our 1% contribution to harmful emissions still further ...

"Revolution Has Begun": 75,000 Brits Plan To Stop Paying Power Bills In Protest At Energy Rip Off
Resistance is growing to spiralling domestic energy costs in Britain as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again. 

If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all," tweeted "Don't Pay UK," an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.

E U Central Bank Digital Currency Is The Death Rattle Of A Failed Experiment

The announcement from the European Central Bank (ECB) that is is to intrduce an official European Union digital currency spells the end of the European Single Currency experiment and with it the ambition of "ever closer union until the EU's member states were merged into a single political entity Digital Currencies might not quite be Ponzi schemes but on appearances the difference can be compared to that between a horse and a pony.

Negative Interest Rates - Final Nail In The Coffin Of Neoliberalism? Negative interest rates, in plain terms a situation in which we pay bankers for holding our money, are the latest ruse of politicians and economists to make uis start spending our investments and savings, thus kickstarting the global economy thy have screwed up.

German MP Vows To End WHO / Billionaire Psycopaths Influence On Government Policy
German Member of the European Parliament (MEP) Christine Anderson last week delivered a speech to the Citizens Initiative in which she excoriated the World Health Organization, calling it a group of "globalitarian misanthropists" who she - and a group of seven other MPs, have vowed to dismantle in order to oppose the WHO supplanting democratically elected governments.

De - Dollarisation: China, Brazil Make Deal To Ditch US Dollar For Bilateral Trades
China and Brazil this week concluded a deal to conduct trade between their nations in their own in their own currencies, ditching the established reserve currency for global trade, US dollar as an intermediary, the Brazilian announced said on Wednesday. This is Beijing’s latest strike against the almighty greenback in its currency war aimed at shifting the balance of geopolitical and economic power from west to east.

NATO Rhetoric About Russian Threat is 'Absurd'
The reasons being given for the latest NATO military buildup in Eastern Europe, the idea that the Russian 'Russian threat' to Eastern Europe grows every day is "simply absurd," according to former US diplomat and Senate policy advisor Jim Jatras. Effectively, Jatras says, the buildup is an attempt by the US to keep Germany and France on board with Washington's world domination agenda and ...

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly
Significant moves in the global chess game have just rendered the huffing and puffing of warmonger Obama meaningless and will break Wall Street's monopoly in controlling oil markets. The move is part of Vladimir Putin's long-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, in effect ...

Naked Bankers Go For Gold
... That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

The Demise Of Dollar Hegemony: Russia Breaks Wall Streets's Oil-Price Monopoly In a move that went almost completely unreported in mainstream media, Russia has recently opened a market for the trading of physical and 'paper' oil (futures) in Moscow in Roubles. This is the most blatant challenge yet to the domination of the US dollar in world trade.

WMD in Mayfair
Recalling yesterday's Machiavelli Blog which commented on events surrounding the unfortunate death of the alleged former Russian agent Alexander Litvinenko, it seems the murder investigation has now found evidence of many caches (well OK, traces) of radio active toxins in various fashionable establishments in London's West End frequented by former Russian intelligence agents.

China launches global yuan payment system
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar's dominance.

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Saturday, November 18, 2023

Benefits Agency Could Soon Be Allowed Access To Clients Bank Accounts To Monitor Spending

 

Some of us did try to warn you that all thosefreedom restricting regulations and laws introduced "for our safety" during the hoax pandemic were not really about saving us from a terrible disease that was so lethal 99.7 people who caught it made a full recovery, they were about power and control. Some of the regulations were tests, for example the mask mandates  revealed what proportion of the population were willing to challenge authority and refuse to wear masks.

Lockdowns gave the police and courts new powers which they gleefully abused and fortunately the vaccines encountered more resistance than expected in spite of dishonest, scaremongering propaganda,coercive and bullying tactics to make us conform and shameful misreporting of the true figures for infections and deaths by mainstream media.

We also warned the hoax pandemic was just the beginning. Now The Powers That Be have decided that although it was not a total success it revealed enough to convince them the time to launch the second part of their agenda had arrived. Last week The Daily Mirror reported that surveillance is going to the next level. It has taken us a few days to put our analysis online because the news is so significant there were things we had to verify.

The move has been hinted at for a long time, alongside the abolition of cash and the introduction of Central Bank Digital Currencies we now learn the UK's Department of Work and Pensions (DWP) is drafting legislative measures aimed at reducing levels of benefit fraud, error and debt in the benefits  system. The Mirror's report says:

The Department for Work and Pensions (DWP) could be allowed to look through bank accounts to see where you spend your money under new plans to tackle benefit fraud. 
The DWP is currently working on legislative measures to help reduce levels of fraud, error and debt in the benefits system. This was initially set out in the May 2022 policy paper “Fighting Fraud in the Welfare System”.

Some of the potential measures include allowing DWP investigators to access and collect third-party data from banks to see where claimants are spending their money and allow investigators to execute search and seizure orders – so to be able to come into a claimant’s home and take away phones and laptops. Agents could also be given the power to make arrests rather than having to call in the police.
The DWP has just published the results of a public consultation into the plans. The research aimed to explore the acceptability of these potential powers to help inform future policy development, assess communication approaches and build the evidence base on fraud, error and debt. This survey consisted of 2,127 people and of that 618 were benefit claimants.

The results revealed that more than half (52%) of those surveyed found the proposal of collecting information about where claimants are spending money to be acceptable. Overall, 62% saw fraud and error in the welfare benefits system as a big problem, with 18% seeing it as a very big problem – only 3% of respondents did not see it as a problem at all.

Nearly 40% of survey respondents believed that around half of incorrect benefit claims were a result of dishonesty, while 31% thought that “most” were due to dishonesty. Only 17% thought that most incorrect claims were due to mistakes. At the end of the survey, respondents were asked about their overall views on the potential new powers. Well over half (62%) said they were feeling either positive or very positive about them – with only 21% saying they felt negative.’

 There is nothing controversial in saying that Benefit fraud is endemic in some areas of the UK and DWP has, intentionally or unintentionally, been complicit through incompetence, lax management standards, poorly educated staff and a host of other reason including failure to investigated suspected fraud by members of certain protected minorities, .

The DWP has also been complicit for years in the utter fraud of the Work Capability Assessment (WCA) as we know from cases where perfectly fit people have been caught in activities their claimed disability woud prevent then from doing, (in one case while training for a marathon,), and in the fraud perpetrated by private sector contractor ATOS which disability claims assessment was outsourced, to compliant medics and Lawyers who sold their moral and so called professional souls for the filthy lucre to – very deliberately – deprive some people ( not all for sure ) of help in (often) desperate circumstances; and suicide was not unknown as a result, albeit numerically low.

The whole system is rotten to the core.

RELATED:

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Beware the dangers of a cashless society
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.

War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive." We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...

Norway's Biggest Bank Joins Push To Abolish Cash
The move by governments to eliminate cash as a means of trading goods and services is moving faster than we imagined. With another global financial crisis looming according to financial journalists and investment experts this is as understandable as it is undesirable for us ordinary punters.

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.

New Global Crisis Imminent, New Geneva Report Warns The Geneva Report refers to a “poisonous combination of high and rising global debt and slowing nominal GDP [gross domestic product], driven by both slowing real growth and falling inflation”. The total burden of world debt, private and public, has risen from 160 per cent of national income in 2001 to almost 200 per cent after the crisis struck in 2009 and 215 per cent in 2013. “Contrary to widely held beliefs, the world has not yet begun to delever and the global debt to GDP ratio is still growing, breaking new highs,” the report said.

Cashless Society - The Resistance Begins Here
A seaside market town in Norfolk may be less than 100 miles from the world's financial capital, London, , it may be the commercial centre of West Norfolk’ as the town website boasts, it may be home to 45,000 people — but there, unlike in London, cash is king.

Establishment Pushing ‘Cashless Society’ to Control Humanity
The global establishment is increasingly pushing the notion of what it calls a “cashless society” — a world in which all payments and transactions would be conducted electronically, creating a permanent record for governments to inspect and track at will.Multiple governments from Africa and Asia to Europe and ...

Being Evil? Just Another Day At The Office For Google Boss
Holy City (slam poem)
Living Within The Conspiracy
New World Order
Internet Technology
Science and Technology
London transport bans cash

Friday, July 21, 2023

Posh Peoples Banker Humbled By Public Backlash To Authoritarian Debanking Policy

Much discussion in UK media and as far away as The USA and Australia this week has focued on the decision by Coutts (the posh people's bank,) to ‘de-bank’ former UKIP leader Nigel Farage, the political outsider who successfully steered the campaign to take Britain out of the EU to victory in a national referendum. According to Coutts initial responses to media attention the decision was taken  because of reputational concerns. 

Bizarrely, when Farage, now host of a popular radio talk show, took his story to the media Coutts told the BBC that the Farage account closure was due to financial requirements. This was probably was one of the worst corporate cock ups in recent history because it was so easily falsifiable, especially for a skilled operator like Farage whose track record shows he knows how to use the media. After after days of media fury about a corporate war on free speech, stirred up mostly by the former Ukip leader himself, and a genuine public outcry because in this era of automation, digitization and depersonalisation, banking is an essential service and if it can happen to Nigel Farage because his bank don't like some of his opinions, it can happen to any of us.

Coutts have now caved in following criticism from everybody from Prime Minister Rishi Sunak to Stan the bloke in the pub who has an opinion about everything, the bank and its parent company Nat West group have issued a grovelling apology to Farage for comments made about him during a meeting of the bank’s wealth reputational risk committee.

Alison Ross, the chief executive of NatWest  this afternoon released a lengthy apology for the ‘deeply inappropriate comments made in the now published papers. They 'do not reflect the views of the bank’, she said, adding ‘I believe very strongly that freedom of expression and access to banking are fundamental to our society and it is absolutely not our policy to exit a customer on the basis of legally held political and personal views.’ The bank has now offered ‘alternative banking arrangements’ at NatWest.

It was deeply disturbing that Nigel Farage was debanked by Coutts for his political and social attitudes but becomes truly sinister when we consider that apparently no other bank was prepared to offer him an account and they all marched in lockstep (goose step?) with Coutts.

If he could have easily moved to another bank it would have been shameful that Coutts, the bank that discriminates on the basis of wealth. also discriminates on the basis of politics, while being quite happy to offer services to some of the world's most brutal authoritarian tyrants, a number of very unsavoury east European oligarchs and authocratic leaders of Arab oil states in which the concept of human rights simply does not exist, but the fact that other banks took a similar stance becomes a matter of totalitarian oppression.

Because of the nature of their business banks should not be able to select their customers on the basis of political positions just as they cannot discriminate on grounds of race, religion, skin colour or sexual orientation. Coutts was wrong to kick NF out for the reasons set out in the report and the other banks should not have been able to so glibly refuse his custom without a sound reason for doing so

As mentioned above banking is an essential service in the modern and increasingly cashless world. To deny anyone access to banking facilities is tantamount to erasing their social existence, hamstringing their ability to earn a living or but essential goods and services and ultimately eliminating them from society. Withdrawing banking facilities in a way which would inhibit that person's ability to make alternative arrangements without acceptable reasons is an intolerable injustice. 

 This practice is akin to isolating someone, no matter how ill, from access to health services because his/her legitimately stated/held views do not confirm to the ‘diversity, inclusion and equality’ [DIE] narrative promoted by political, media and business establishment organisations. Such cancellation represents a gross violation of that person's inalienable rights to free speech and personal liberty the fundamental destruction of a basic human right to access an essential service without which normal existence is rendered impossible.

The most alarming thing of all is that leaders of powerful corporate organisations, not to mention public services managers, can so easily terminate individuals’ bank accounts (or access to services) with little or no accountability. 

We associate such tyranny with regimes Nazi Germany, communist Russia, modern China, North Korea or certain Middle Eastern theocracies. The large dossier compiled by Coutts on Nigel Farage without his knowledge is a most sinister development of a kind that we thought was confined to brutal totalitarian police states, not the so-called liberal democracies.

 

RELATED:


Just Another Day In Bizarro World: Colonel Forced Out Of TheArmy For Saying 'Men Cannot Be Women'
Dr Kelvin Wright, 54, had been a Reservist commanding officer with 14 years’ unblemished service, including two tours in Afghanistan, before his “honour was attacked” with a transphobia complaint and an investigation he described as “hellish”. In May, he shared a post on his private Facebook account from Fair Play for Women, a group that works to preserve women’s sport for those born female,

Scientists say gruesome cigarette-style warnings on MEAT could be used to shame buyers
Images of black lungs and rotting teeth cigarette packets were intended designed to put smokers off but in fact it is punitive taxes that reduced the prevelance of tobacco smoking. The scare tactics were not 100% effective but they did enough to suggest that that slapping similar stickers on packs of meat in supermarkets could shame buyers into accepting a diet of mashed bugs and plant based gunge like Quorn and Tofu.

UK Conservative MP Claims Cover Up Of Covid Vaccine Related Heart Problems By Big Pharma & Research Organisations
UK Conservative Member of Parliament Andrew Bridgen, who has made highly public, 'off message' criticisms of the media silence about the harms causede by COVID 19 mRNA vaccines, has now urged the government and British National Health Service to discontinue use of the vaccines as they clearly do not either prevent infection or alleviate symptoms but have so far been linked to far more cases of serious adverse reactions that all other vaccines introduced over the past thirty years.

World Eeconomic Forum Fuhrer Klaus Schwab Says Governments Must Harness A.I. And They Will Be ‘Masters of the World’, MWAH HA HA HARRR
Addressing the World Government Summit in Dubai,World Economic Forum Chairman and Scooby Doo Villain lookalike Klaus Schwab said that emerging technologies such as Artificial Intelligence which will usher in a 'Fourth Industrial Revolution' can become “masters of the world,”

World Economic Forum Calls for Merging of Human and Artificial Intelligence to Censor ‘Hate Speech’ & ‘Misinformation’

Digital Authoritarianism: AI Surveillance Signals The Death Of Privacy


New advances in AI surveilance techniques threaten privacy, civl rights and free speech.

The Great Genocide: Dutch Govt Plans to Shut Down Up To 3,000 Farms To Comply With Euronazi Union Green Law
As we reported earlier in the year, in order to comply with new, economically suicidal European Union environmental laws the Dutch government’s plans to force the closure of thousands of dairy and livestock farms in order to comply with the latest and most insane to date batch of EU environment laws which aim to limit notrogen as well as Carbon Dioxide emissions. The European Union green agenda directive has been branded as the “Great Reset turned up to eleven”.

Politicians Are Offering A Trade, Safety For Freedom. But What Are We Really Trading Away?
It's the age old confidence trick, politicians and the elites offter a straight choice between security of freedom and all the risks it entails, then amplify those risks with scaremongering propaganda. In the case of the COVID crisis it has worked so far, with enough people accepting the need for masks, lockdowns and killer vaccines to make The Great Reset seem feasible - but time is running out and people are waking up ...

Big Tech tyranny is the biggest threat to democracy in our era
This weeks main story, pushing Coronavirus aside at last, has been the attempt by Twitter to censor U.S. President, classifying his somewhat rabid tweets as misinformation. Whether you love or hate Trump or any other occupant of The White House, their utterings can never be dismissed as ‘misinformation’ because they represent what one of the most powerful people in the world is thinking.

Politicians Are Offering A Trade, Safety For Freedom. But What Are We Really Trading Away?
It's the age old confidence trick, politicians and the elites offter a straight choice between security of freedom and all the risks it entails, then amplify those risks with scaremongering propaganda. In the case of the COVID crisis it has worked so far, with enough people accepting the need for masks, lockdowns and killer vaccines to make The Great Reset seem feasible - but time is running out and people are waking up ...

Big Tech tyranny is the biggest threat to democracy in our era
This weeks main story, pushing Coronavirus aside at last, has been the attempt by Twitter to censor U.S. President, classifying his somewhat rabid tweets as misinformation. Whether you love or hate Trump or any other occupant of The White House, their utterings can never be dismissed as ‘misinformation’ because they represent what one of the most powerful people in the world is thinking.

University free speech society told free speech a 'red risk', external speakers must be vetted

Sheffield University’s recently formed Free Speech Society has been warned that free speech is a “red risk” and all external speakers at events it organises will have to be vetted by the University Thought Police squad and the topics they intend to talk about shown to be in line with ideas and opinions the titty - sucking babies who run the Student Union are not frightened by.

Big Tech tyranny is the biggest threat to democracy in our era
This weeks main story, pushing Coronavirus aside at last, has been the attempt by Twitter to censor U.S. President, classifying his somewhat rabid tweets as misinformation. Whether you love or hate Trump or any other occupant of The White House, their utterings can never be dismissed as ‘misinformation’ because they represent what one of the most powerful people in the world is thinking.

French Intellectual Jailed for Calling Mass Immigration an “Invasion”
French intellectual Renaud Camus (above) has been conditionally sentenced to 2 months imprisonment for arguing that mass immigration in Europe represents an “invasion.” Summit.news reports: The writer, who is the author of Le Grand Remplacement (The Great Replacement), was charged with “public incitement to hate or violence on the basis of origin, ethnicity, nationality, race or religion.”

There Is No Freedom Without Transparency

The Democrat / Republican political puppets in the USA would be supported by European leaders including Prime Minister David Cameron in the UK, France's Francois Hollande and Germany's Angela Merkel who, even as I type, are preparing massive interventions in Libya and Iraq, both turned into chaotic and lawless failed states by previous US / European interventions
There Is No Freedom Without Transparency

Facebook Declares War On Free Speech

Facebook has for some time had a policy of removing text that the majority of people would consider racist. Now the social media site is now deleting and blocking comments that only one person at Facebook decides is "racist." The sinister, Orwellian reality of a society in which the expression of majority opinion is being turned into a crime has already been witnessed across Europe. Even more disturbing, social media operators such as Facebook and Twitter appear to be collaborating with governments in the suppression of free speech.
Facebook Declares War On Free Speech

The Great Genocide: Dutch Govt Plans to Shut Down Up To 3,000 Farms To Comply With Euronazi Union Green Law
As we reported earlier in the year, in order to comply with new, economically suicidal European Union environmental laws the Dutch government’s plans to force the closure of thousands of dairy and livestock farms in order to comply with the latest and most insane to date batch of EU environment laws which aim to limit notrogen as well as Carbon Dioxide emissions. The European Union green agenda directive has been branded as the “Great Reset turned up to eleven”.

World Economic Forum Calls for Merging of Human and Artificial Intelligence to Censor ‘Hate Speech’ & ‘Misinformation’

Despite the fact that they represent only the interests of big business, big finance and themselves, the oligarchs of the World Economic Forum are now calling for a policy of merging human and artificial intelligence systems so that computer chips implanted in our brain can edit and censor “hate speech” and “misinformation” online before it is articulated trough spoken of written word online.

We The Good Guys Versus They The Bad Guys Reporting Does Not Make Sense For The Ukraine Crisis
Mainstream media reporting of the conflict in Ukraine has disappointed. Perhaps I was naive to suppose that lessons might have been learned from the hits their print sales and online traffic rates took as a result of their handling the COVID pandemic But instead of focusing on the most obviously newsworthy aspect of the build up to and escalation of the war, Russia’s view of NATO expansion into Ukraine and even further to Georgia and Kazakhstan, news reports have simply demonised Russia and portrayed Ukraine as the good guys.

French Police Use Teargas As Freedom Convoy Brings Thousands Of Protestors To Paris
Inspired by Canada's freedom Convoy, a sponaneous protest by drivers of heavy trucks against the fasistic and oppressive curtailment of individual freedoms by Prime Minister Trudeau's regime, French truck drivers protesting President Macron's similarly authoritarian measures converged on Paris where they were met by riot police enforcing Macron's ban on protests against government policy ...

Negative Interest Rates & The War On Cash, Part 3: "Beware The Promoters"
Bitcoin and other electronic platforms have paved the way psychologically for a shift away from cash, although they have done so by emphasising decentralisation and anonymity rather than the much greater central control which would be inherent in a mainstream electronic currency. Despite the loss of privacy, electronic currency is much favoured by techno-optimists, but not so much by those concerned about the risks of absolute structural dependency on technological complexity.

Beware the dangers of a cashless society
As the country celebrates tradition and prepares for change, one major shift is closer than ever – our move towards becoming a cashless society. It is hard to imagine money without the Queen’s profile proudly embossed, defining our Elizabethan generation in a centuries-old British tradition, but the monarch’s face is fast disappearing from our pockets.

War On Cash Gathers Momentum - Germany Unveils Cash Controls
On Monday (1 February, 2016) just two days ago, Bloomberg called on the central banks of the world to “bring on a cashless future” in an Op-Ed that calls notes and coins "dirty, dangerous, unwieldy, and expensive." We can imagine it would be quite easy to harm someone by firing large coins at them from a gun and terrorists could probably stuff an improvised explosive device with small coins rather than nails or nuts and bolts. And if ...

The Financial Times Calls for Ending Cash, Calls it a “Barbarous Relic”
Earlier this week, as the financial world was in turmoil following a rapid crash and recovery in financial markets. While we the punters shook our heads and wondered how the banksters get away with this kind of shit, The Financial Times published a dastardly little piece of fascist New World Order propaganda.

[ Free Speech Murdered ] ... [ Free Speech catalogue ] ... [ death of democracy ] ... [ Cashless society ]

Thursday, June 29, 2023

COVID To Blame For Inlation Says Economically Illiterate Bank Of England Chief

 An interesting insight into why the liberal democracies are all in the throes of financial crises emerged yesterday as a result of a pissing contest between the current head of the Bank of England, Andrew Bailey, and his predecessor Mark Carney.

Canadian national Carney was always a supporter of the European Union and throughout his tenure at the BoE from 2013 to 2020 was a strong supporter of closer economic integration with the European Union and then of the 'Remain' campaign and finally of efforts by certain billionaire psychopaths and globalist politicians to habe the referendum result overturned. Since leaving his role at the Banl he has consistently spoken and published articles claiming Brexit is to blame for everything from inflation to extreme weather events. 

The current BoE chief Andrew Bailey said in an obvious rebuke to Carney earlier this week that Covid is to blame for the inflation crisis rather than Brexit, which is still wrog but not as stupidly wong as Carney's belief that Brexit is to blame for everything

Mr Bailey said the pandemic is the key problem, as workers who left the jobs market during Covid do not appear to have returned, leaving a sustained hole in the economy.

It should be obvious to anyone who has more tits or testicles that inflation is caused by banks, more specifically the central banks. While theidiotic responses of the debeloped nations to the COVID pandemic led to an orgy of money printing, which certainly did not help, inflation is an upwards movement of wealth. Bankers, as always, hide behind false accusations, always pointing towards big events and not their own nefarious activities in stripping the wealth away from ordinary people. People are left not knowing who to blame in this instance because saying it is ‘Covid’ or ‘Brexit’ is to cloud the issue in political blaming and point towards the governing party at the time, namely the Tories, who have no ability to make financial decisions without the say so of their banking overlords. Inflation, just like the banking crises of 2008 and 1929, was caused by central banks, the only winners in this game.

The inflation we are experiencing may have originated with manufactured supply chain shortages – starting with the gas and oil price in the Autumn before the start of the Ukraine war but these shortages are being caused by a combination of government policy globally (in response to UN Agenda 2030) and a change in the strategic orientation of large corporations to an ESG agenda – otherwise known as stakeholder capitalism. The banks also have a role in setting high interest rates but these are mainly an attempt to fix the broken debt markets. While the COVID policies were ridiculously over the top considering the true level of threat posed by the disease, the orgy of money printing kicked off by lockdowns, on the back of a decade of idioically cheap credit which encouraged a growth of deby to eye watering levels, and then followed by steep increases in interest rates have reduced the value of money while simultaneously raising the cost of goods and services. And it is all down to mismanagement of the money supply by central banks as they choose to serve political ideologies rather than practical economic consideratons. RELATED:

"Revolution Has Begun": 75,000 Brits Plan To Stop Paying Power Bills In Protest At Energy Rip Off
Resistance is growing to spiralling domestic energy costs in Britain as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again. 

If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all," tweeted "Don't Pay UK," an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.

Panama Papers: British Elite Linked to Corruption, yet Media Only Focuses on Putin It is clear (and very easy to research) that many Amerocan elitists, including prominent political figures are involved in the Panama tax haven scandal. So why are British news organisations focusin on David Cameeron, the Conservatives and Vladimir Putin? Could it be the Gerge Soros funded group behaind the leaks have another agenda besides exposing (perfectly legal) tax avoidance?

How To Help The Poor - A look at how mainstream politics talks of fairness but penalises poverty
All three mainstream parties in the May 2015 General Election are focusing, as they did last time, on fairness, equality and helping 'the poor'. As their senior spokesmen piously pontificate there will be no trace of irony from either Conservative, Labour or Liberal Democrat while the spout such bollocks, even though they know their economic policies will penalise the poor.

Things That Make You Boggle ... Like The Misplaced Confidence Of Academics
Why are economics academics always so sure that their predictions are correct. Given the abysmal record on economists on calling the economic trends correctly even after they have happened let alone ahead of the trend, you would think exponsents of the dismal science would be a little more cautious in proclaiming their gusses as evidence backed facts. They never seen to learn however.

Inland Revenue a Dysfunctional department that ‘can’t be trusted’ with power to raid bank accounts
Plans to let the taxman take cash out of people’s bank accounts without their permission were condemned by MPs after Rebecca Benneyworth, of the Institute of Chartered Accountants, warned the department is ‘shooting itself in the foot.’ She told the ICAEW conference : ‘Public trust in HMRC would be eroded very quickly if cases come to light where funds have been incorrectly removed. ‘HMRC cannot afford to have public opinion turn against the tax system and those charged with administering it.’Accountants have warned HMRC cannot be trusted ...

The Second Wave Of The Debt Tsunami or The Coming Of The New World OrderAs the debt crisis stumbles on in Europe, the U S A and around the third world all politicians and governments can do is keep kicking the can further down the road. Nobody is prepared to admit that the economic model based on perpetual growth funded by personal debt and public spending has failed. So where do we go from here?
Britain' Leaders Must Ignore The Messianic Promises Of This False Prophet Of Economic SalvationAccording to his fans Paul Krugman is the greatest economist of his generation. So why does he telln us he can solve the economic crisis when all he can offer is a return to the borrow and spend policies that created the mess in the first place.
Green Policies Will Not Save The Planet But Are Costing Poor Families The EarthPoliticians bleat about the plight of the poor then press on with their clean, green, sustainable energy policies which include stealth taxes to subsidise expensive and inefficient wind turbine and solar panel power generators. Can they not see it is the green agenda that is driving up inflation ...
Drop in UK inflation Is Not Good NewsThe Office for National Statistics has reported a sharp fall in the Consumer Prices Index - down from 4.8 per cent in November to 4.2 per cent last month - was the sharpest drop in the annual rate since December 2008 when the UK was in recession and VAT was reduced. Government ministers and propagandists will try to talk this up as a sing that the economy is starting to recover. We should be wary however, in the current economic circumstances a drop in inflation, especially one this rapid in what is traditionally the best month of the year for retailers, is not good news ...
Financial MadnessWas the credit crunch as the media called it really caused by the geed and incometence of the banks and the inabiliy of us ordinary punters to manage our affairs. Or was it all due to the financial madness of politicians who engineered a a system that depended on infinite growh in a world of finite resources.
Shock, Horror! Coalition Spending Cuts Cuts Will Mean 50,000. NHS Job LossesPredictably the left are screaming about the claimed 50,000 jobs that will have have to be axed by NHS trusts across the nation to meed government budget reduction targets. What NHS managers are doing however is following in the footsteps of Labour controlled councils and rather than losing the candy - floss jobs created by empire building bureaucrats are slashing front line services to punish users of the service for ...
Interest Rates Must Start To Rise Very SoonThe Daily Stirrer has warned you to brace yourselves for rises in interest rates. As it is the Bank of England has kept rates at an insanely low level for far too long in the face of evidence that their policy had completely failed to achieve its stated aim and boost the economy. Now with the economy stagnant, the jobless figures flatlining but likely to increase as public sector jobs are shed and inflation

"Revolution Has Begun": 75,000 Brits Plan To Stop Paying Power Bills In Protest At Energy Rip Off
Resistance is growing to spiralling domestic energy costs in Britain as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again. 

If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all," tweeted "Don't Pay UK," an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.

Panama Papers: British Elite Linked to Corruption, yet Media Only Focuses on Putin It is clear (and very easy to research) that many Amerocan elitists, including prominent political figures are involved in the Panama tax haven scandal. So why are British news organisations focusin on David Cameeron, the Conservatives and Vladimir Putin? Could it be the Gerge Soros funded group behaind the leaks have another agenda besides exposing (perfectly legal) tax avoidance?

How To Help The Poor - A look at how mainstream politics talks of fairness but penalises poverty
All three mainstream parties in the May 2015 General Election are focusing, as they did last time, on fairness, equality and helping 'the poor'. As their senior spokesmen piously pontificate there will be no trace of irony from either Conservative, Labour or Liberal Democrat while the spout such bollocks, even though they know their economic policies will penalise the poor.

Things That Make You Boggle ... Like The Misplaced Confidence Of Academics
Why are economics academics always so sure that their predictions are correct. Given the abysmal record on economists on calling the economic trends correctly even after they have happened let alone ahead of the trend, you would think exponsents of the dismal science would be a little more cautious in proclaiming their gusses as evidence backed facts. They never seen to learn however.

Inland Revenue a Dysfunctional department that ‘can’t be trusted’ with power to raid bank accounts
Plans to let the taxman take cash out of people’s bank accounts without their permission were condemned by MPs after Rebecca Benneyworth, of the Institute of Chartered Accountants, warned the department is ‘shooting itself in the foot.’ She told the ICAEW conference : ‘Public trust in HMRC would be eroded very quickly if cases come to light where funds have been incorrectly removed. ‘HMRC cannot afford to have public opinion turn against the tax system and those charged with administering it.’Accountants have warned HMRC cannot be trusted ...

The Second Wave Of The Debt Tsunami or The Coming Of The New World OrderAs the debt crisis stumbles on in Europe, the U S A and around the third world all politicians and governments can do is keep kicking the can further down the road. Nobody is prepared to admit that the economic model based on perpetual growth funded by personal debt and public spending has failed. So where do we go from here?
Britain' Leaders Must Ignore The Messianic Promises Of This False Prophet Of Economic SalvationAccording to his fans Paul Krugman is the greatest economist of his generation. So why does he telln us he can solve the economic crisis when all he can offer is a return to the borrow and spend policies that created the mess in the first place.

U S Regional Bank First Republic Crashes As America's Banking 'Crisis In Confidence' Becomes Contagious
Shares in America's First Republic Bank's crashed when the New York stock market opened for trading this morning. The crash was triggered by a statement issued on Sunday night that sought to ease investor worries about the bank's liquidity situation in the wake of the failure of Silicon Valley Bank. Shares in the San Francisco based regional bank are down 60% on last week's close.

Naked Bankers Go For Gold
... That gold sale in 2013 was a naked short. The seller had no gold to sell. COMEX reported having gold only equal to about half of the short sale in its vaults, and not all of that was available for delivery (quite a lot of it belonged to the german government) In effect the naked shorting of gold could only work because really the right hand was selling to the left hand.

Things That Make You Boggle ... Like The Misplaced Confidence Of Academics
Why are economics academics always so sure that their predictions are correct. Given the abysmal record on economists on calling the economic trends correctly even after they have happened let alone ahead of the trend, you would think exponsents of the dismal science would be a little more cautious in proclaiming their gusses as evidence backed facts. They never seen to learn however.

Was The Banks' Cypriot Smash And Grab A Rehersal
When I started here at Bubblews back in early March the big story was the financial meltdown in Cyprus and the international response that shocked the world. The political leaders and international bankers whose incompetence and irresponsibility caused ...

Money Index Tax The Rich, Hurt The Poor
The loopy left in Britain and the USA have, throughout the cedit crunch, chanted their Tax The Rich mantra. Those who do not learn from history are condemned to repeat it of course and the left have still not learned from all the other economic catastrophes caused by attempts to redistribute wealth that taxing the rich huts the poor most.

The Folly Of Using Inflation To Reduce The Debt As the Obama administration starts to seriously consider minting Trillion dollar coins to reduce debt by fuelling massive inflkation the Daily Stirrer's finance expert explain why this would not work and would have catastrophic consequences.

A Dickensian Christmas Gift: Mister Micawber's Economic Wisdom
Despite the ever growing dunghill of evidence to the contrary lefty politicians around the world continue to call for higher taxes, more government spending and collectivist solutions while the clueless Obama administration embark on another futile round of "quantitative easing. What they are trying to do is inflate away debt but inflation is the curellist stealth tax. (Also posted at Scribd)

Green Policies Will Not Save The Planet But Are Costing Poor Families The EarthPoliticians bleat about the plight of the poor then press on with their clean, green, sustainable energy policies which include stealth taxes to subsidise expensive and inefficient wind turbine and solar panel power generators. Can they not see it is the green agenda that is driving up inflation ...
Drop in UK inflation Is Not Good NewsThe Office for National Statistics has reported a sharp fall in the Consumer Prices Index - down from 4.8 per cent in November to 4.2 per cent last month - was the sharpest drop in the annual rate since December 2008 when the UK was in recession and VAT was reduced. Government ministers and propagandists will try to talk this up as a sing that the economy is starting to recover. We should be wary however, in the current economic circumstances a drop in inflation, especially one this rapid in what is traditionally the best month of the year for retailers, is not good news ...
Financial MadnessWas the credit crunch as the media called it really caused by the geed and incometence of the banks and the inabiliy of us ordinary punters to manage our affairs. Or was it all due to the financial madness of politicians who engineered a a system that depended on infinite growh in a world of finite resources.
Shock, Horror! Coalition Spending Cuts Cuts Will Mean 50,000. NHS Job LossesPredictably the left are screaming about the claimed 50,000 jobs that will have have to be axed by NHS trusts across the nation to meed government budget reduction targets. What NHS managers are doing however is following in the footsteps of Labour controlled councils and rather than losing the candy - floss jobs created by empire building bureaucrats are slashing front line services to punish users of the service for ...
Interest Rates Must Start To Rise Very SoonThe Daily Stirrer has warned you to brace yourselves for rises in interest rates. As it is the Bank of England has kept rates at an insanely low level for far too long in the face of evidence that their policy had completely failed to achieve its stated aim and boost the economy. Now with the economy stagnant, the jobless figures flatlining but likely to increase as public sector jobs are shed and inflation

[ Inflation - the cruellist tax ] ... [ mone and finance ] ... [ money from fresh air ] ... [ Bankers money magic ]

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Thursday, May 04, 2023

American Financial Meltdown? Troubled California Bank PacWest Craters 60% On Report It Is Seeking Buyers - Crisis Affects Other Banks

 

This morning  U.S. Federal Reserve chairman Jerome Powell openly lied to financial reporters during a  press conference stating without a hint of irony that the US banking system is "sound and resilient."

Ironically even as Powell was speaking the news broke that  another  bank collapse was on its say.

Shortly after the conference closed, Bloomberg reported that California-based bank, PacWest Bancorp., was weighing a range of strategic options, including a sale.

The Beverly Hills-based bank - whose financial conditions it appears has been far worse than the Fed, which had just hiked interest rates another 25bps (a quarter of one per cent,) calculated for - has been working with consultants and also been considering selling a huge slice of its business to raise capital according to Bloomberg. While it is open to an outright if the right offer (i.e. any offer,) comes along, , the company hasn’t yet started a formal auction process.

According to the report,  and similar to other recent bank collapses SVB and FRC, "a potential buyer would also have to potentially book a big loss marking down some of its loans, a spokesperson said."

the next regional bank collapse was on its say.

Shortly after the close, Bloomberg reported that another regional, California-based bank (of course), PacWest Bancorp., was weighing a range of strategic options, including a sale.

The Beverly Hills-based bank - whose financial conditions it appears has been far worse than the Fed, which just hiked another 25bps, thought - has been working with a financial adviser and has also been considering a breakup or a capital raise, according to Bloomberg sources. While it is open to a sale, the company hasn’t started a formal auction process.

According to the report,  and in a similar way to ,other recent bank collapses SVB and FRC, "a potential buyer would also have to potentially book a big loss marking down some of its loans, a spokesperson said."

Following publication of the Bloomberg report, PacWest - which had $28 billion in deposits at last check (far less as of this moment) and $44 billion in assets, saw its stock plunge more than 60% in the space of a few hours.

Earlier we reported that First Horizon tumbled as much as 40% after saying it and Toronto-Dominion Bank mutually agreed to terminate their merger agreement amid uncertainty around regulatory approvals.

Meanwhile, with the Fed still burying its head in the sand as an epic bank crisis hurtles towards the USA, Powell may be  hopeing that a avalanche of bank failures will make the Fed's job of sparking a recession, credit crisis and deflationary bust easier.

 

RELATED:

 

 

U S Regional Bank First Republic Crashes As America's Banking 'Crisis In Confidence' Becomes Contagious
Shares in America's First Republic Bank's crashed when the New York stock market opened for trading this morning. The crash was triggered by a statement issued on Sunday night that sought to ease investor worries about the bank's liquidity situation in the wake of the failure of Silicon Valley Bank. Shares in the San Francisco based regional bank are down 60% on last week's close.

Do We Have A Winter Of Civil Disobedience Ahead?
As many people in Britain slap on the apres sun gloop in the wake of what passes for a heatwave in these cool cloudy climes, our inept politicians caught with their pants down by unusual weather as usual have heard that that winter is coming and are making plans for a coldwave. We are in the grip of an energy crisis at the height of summer. Last week, it was reported that the UK government is laying down plans for a “reasonable worst-case scenario” including blackouts for industry and even households. And this is as energy prices spiral out of control to new records every day.

Britain is Breaking Down; The Economy Is Struggling, Living Standards Are Falling, Institutions Are Failing
Successive governments have brought Britain to its knees.This article will focus on Britain as representative of the general malaise that is afflicting almost all the developed world. Our current crop of politicians have discarded the resources that brought the country out of the post war decline ... In spite of being rich in energy resources Britain is now in an energy crisis, our leaders have sacrificed prosperity on the altar of Net Zero, committing the nation to our reducing our 1% contribution to harmful emissions still further ...

"Revolution Has Begun": 75,000 Brits Plan To Stop Paying Power Bills In Protest At Energy Rip Off
Resistance is growing to spiralling domestic energy costs in Britain as more than 75,000 irritated people in the UK have pledged not to pay their electricity bill this fall when prices jump again. 

If the government & energy companies refuse to act then ordinary people will! Together we can enforce a fair price and affordable energy for all," tweeted "Don't Pay UK," an anonymous group spearheading the effort to have more than one million Brits boycott paying their power bill by Oct. 1.

E U Central Bank Digital Currency Is The Death Rattle Of A Failed Experiment

The announcement from the European Central Bank (ECB) that is is to intrduce an official European Union digital currency spells the end of the European Single Currency experiment and with it the ambition of "ever closer union until the EU's member states were merged into a single political entity Digital Currencies might not quite be Ponzi schemes but on appearances the difference can be compared to that between a horse and a pony.

Negative Interest Rates - Final Nail In The Coffin Of Neoliberalism? Negative interest rates, in plain terms a situation in which we pay bankers for holding our money, are the latest ruse of politicians and economists to make uis start spending our investments and savings, thus kickstarting the global economy thy have screwed up.

CEO Of World's Leading Shipping Company Delivers Downbeat Assessment Of Global Economy
While governments and mainstream media news continue to peddle a rosy picture of economic prospects, achieved by statistical jiggery pokery, money printing and they good old fashioned political ploy of telling blatant lies, the real economic indicators tell us this economic view is an illusion. Every month governments tell us the unemployment figure is down but do not tell us how many people have been eliminated from the figure

The Debt Threat To Our Way Of Life
Obama's debt problem and deficit addiction Smoke and Mirrors Blur Inflation Statistics Central Banks Print Money But Fail To End Crisis

[ Money and Finance ] ... [ Banks: Magic Money ] ... [ How Banks rig markets ] ... [ Financial alchemy ]

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Friday, March 24, 2023

Top News Stories From Around The Web - 24 March 2023

 

France Burns As Million Protesters Rage Against Pension Reforms

France is engulfed in turmoil following President Emmanuel Macron's controversial decision to raise the retirement age. Over a million people participated in nationwide protests on Thursday, transforming urban areas into scenes of chaos. These demonstrations, the largest in years, have triggered fuel shortages, hundreds of arrests, and even claims of "civil war." 


 Picture: CBC Canada

Interior Minister Gerald Darmanin told French media outlet CNews on Friday morning that more than 900 fires were reported in the streets of Paris on Thursday night -- in one of the most violent days of protests in a while. 

"There were a lot of demonstrations and some of them turned violent, notably in Paris," Darmanin said. He said more than a million people marched yesterday. 

Police warned anarchist groups were infiltrating marches across Paris and other demonstrations. Men wearing hoods and facemasks were seen smashing windows and setting fire to trash piles and, in some cases, burning buildings. In the southern city of Bodeaux the town hall was set on fire by protestors. ... Continue reading >>>

MORE posts on France and itys social meltdown
France - politics and society
New World Order

Germany's Chancellor Scholz says 'No Reason To Worry' As Deutsche Bank Bloodbath Reignites Global Bank Crisis Fears

Last night, amid assurances from the US Federal Reserve that a global banking crisis had been averted, market watchers noticed an unprecedented ($60 billion) surge in foreign official Repo (repurchase agreemen: a financial instrument for short term borrowing,) under the Fed's new FIMA repo facility, which means that the foreign banks or institutions desperately needed access to USD. 

The assumption was that it was Credit Suisse (or their new owner UBS) shoring up some shortfalls, but with the action of the last couple of days, others are worrying that there is more trouble brewing in the EU banking sector. 

After brief respite earlier in the week, European bank stocks are cratering once again, now at 3-month lows (catching down to Senior Financial CDS)... Deutsche Bank stock has crashed to 5-month lows... Deutsche Bank CDS, (Credit Default Swaps, a method of insuring lenders agaist borrowers defaulting on interest payments,) is soaring Commerzbank is also rising rapidly both are now higher than at peak of the COVID lockdowns... 

Notably, Deutsche Bank unexpectedly announced its decision to redeem a tier 2 bonds on Friday in a reassuring effort. “Deutsche’s decision to redeem (having received all required regulatory approvals) should be a reassuring signal to credit investors,” Autonomous analyst Stuart Graham wrote in a note on Friday. But instead, other Deutsche Bank AT1 bonds have plunged in price (with yields soaring above 16%). With the Credit Suisse meltdown only a week old, it looks like deja vu all over again. MORE posts on Banking and Finance


EV battery scratched in accident? Your insurer might have to write off the whole car.

(Source: Reuters) On top of all the other draw.backs of owning an electric vehicle, unhappy owners are now finding their cars are being wriiten off and scrapped when they make an insurance claim following even a minor accident. Even seemingly trivial damage to the battery pack can have catastrophic results and there is no way to repair or even properly assess damaged battery packs after accidents. Lithium, the main component of EV batteries is a highly volatile material and a damaged battery can pose an unacceptable risk of spontaneous combustion, resulting in a fire that cannot be put out by conventional means (i.e. water, CO2,) forcing insurance companies to write off cars with only a few miles on the clock. Inevitably this is leading to higher premiums and undercutting gains from going electric.

Additionally, and in spite of ecoloons claims to the contrary, there is as yet no way of recycling battery packs and not imminent advances are likely to change that so clapped out and damaged EV battery packs are piling up in scrapyards in some countries, a previously unreported and insurmountable obstacle in what was supposed to be a "circular economy."


 

"We're buying electric cars for sustainability reasons," said Matthew Avery, research director at automotive risk intelligence company Thatcham Research. "But an EV isn't very sustainable if you've got to throw the battery away after a minor collision."

Battery packs can cost tens of thousands of pounds, dollars or euros to replace and represent up to 50% of an EV's price tag. The cost of installing a replacement battery pack can often exceed the second hand value of the car they have been installed in, making it economically unjustifable to replace them.

While some EV makers like Ford Motor Co (F.N) and General Motors Co (GM.N) say they have made battery packs more easily repairable, Tesla Inc (TSLA.O) has taken the opposite direction with its latest Model Y, the new structural battery pack of which has been described by experts as having "zero repairability."

Tesla have not responded to requests for comment.

A Reuters search of EV salvage sales in the U.S. and Europe shows a large portion of low-mileage Teslas, but also models from Nissan Motor Co (7201.T), Hyundai Motor Co (005380.KS), Stellantis (STLAM.MI), BMW (BMWG.DE), Renault (RENA.PA) and others have been scapped after minor accidents.

"The number of write offs is going to increase as EV sales increase, so the handling of batteries is a crucial point," said Christoph Lauterwasser, managing director of the Allianz Center for Technology, a research institute owned by Allianz (ALVG.DE).

Unless Tesla and other EV manufacturers can produce repairable battery packs and provide third-party access to battery cell data so that independent mechanics and electricians can work on them, already-high insurance premiums will keep rising and more low-mileage cars get scrapped after collisions, insurers and industry experts said as reports were circulating that second hand EVs are practically unsaleable and everyday drivers are coming to realise that while EVs are fine as taxis or delivery vehicles, for the private motorist they are expensive city runabout or rich boys' toys.

Electric Car Fireworks