Woke Is Authoritarian, The Left Is Now The Right

 

I'm old enough to remember the dawn of the hippe movement and shortly before that, though I was at the beginning of my teens at the time, the growth of the civil rights movement. These two things were connected by a collective desire of the part of their followers to create a society free from injustice and inequality, in which traditional prejudices did not define people.  Those laudable aims have, in a few decades, morphed into the excesses of progressive thinking and the screeching authoritarianism of the 'woke' movement and its ideology. The fact that politicians ranging from Ron DeSantis to Rishi Sunak deploy “woke” as a battle cry against pressure groups who hold that on any issue there is only one acceptable opinion and only one correct way of thinking. Not only conservatives and classical liberals (like myself,) but many socialists are increasingly uneasy with the form it has taken.

The woke discourse today is confusing because while it appeals to traditional left wing values: empathy for the marginalised, indignation at the plight of the oppressed, determination that historical wrongs can be righted, it adopts many of the tactics favoured by tyrants and totalitarian regimes in trying to win its arguments.  Thus the high minded principles are undermined by a range of theoretical assumptions — usually expressed as self-evident truths — that ultimately undermine them.

The concept of unity or universalism once defined the Left; solidarity was its watchword and the idea that the common bond of our shared humanity overrode considerations of nationality, race and religious affiliations distinguished it from the Right, which recognised no universal connections, and few real obligations, to anyone outside its own circle. 

The Left claimed there was only one race, the human race. Being a socialist or a liberal meant: caring about striking coal miners in Wales, or Republican volunteers in Spain, or freedom fighters in Africa, the ruination of good land by strip mining, the pollution of seas and rivers therough unregulated dumping of waste, and the exploitation of the many by the few. What united the left was the conviction that behind all the differences of time and space which separate us, human beings are deeply connected in a wealth of ways. To say that histories and geographies affect us is trivial. To say they determine us is false.

Going all in on racially and socially divisive identity politics, making everything political, and making politics itself a zero sum game had to end badly  Followers of the 'woke' ideology loudly and aggrssively declared everyone not aligned with their way of thinking as enemies to be marginalised and 'cancelled' (excluded from social activity,) they shouted down anyone who tried to warn that the path they are on is dangerously authoritarian. Even now, with pushbacks growing stronger every day, they  still seem incapable of truly understanding the Law of Unintended Consequences or the corruption of power. “Authoritarian tendencies?” “Undermining democracy?” That is what the progressive movement with its 'woke' ideology, have been doing! 

Much of the Classical Liberal Left has already abandoned them. They are called “far-right” now by the modern left even though they were not the ones who decided they love corporate power, political establishments, authoritarianism, hating on the rural and global poor and their innate conservatism. 

Progressives have abandoned the philosophical ideas that are central to any liberal or Left-wing standpoint: a commitment to universalism over tribalism.

As a liberal I was always cautious about such principles as unregulated immigration and the abolition of principles, simply because sometimes pragmatism must outweigh idealism, but even so many like me felt the progressive cause was a necessary and sometimes even admirable part of our politics. But now?

Now, progressivism has become more associated with the behaviour of Atilla the Hun. The only way to stop this new fascism, (an accurate description of what it is) is forcefully – just as force historically has always had to be deployed against fascism in all its many forms – both Left and Right

I don’t think the distinction we should pay attention to is between tribalism and universalism, but between authoritarianism and genuine liberalism. There are and always have been authoritarians out there in society, and what sham philosophies they parrot are always just the tools they’re trying to use at any given time to get and keep power. Presently, they’re pretending to be Progressives, but the censorship, government control – including violence – and infliction of their mandates by way of public shaming just shows them to be the same old wolves in lambs’ clothing. The trend in history leads in fits and starts and occasional reverses against them, and gosh do they hate that. They’re just mean and always have been. 

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White Girl Is Burned Alive, 17 Black Gang Members Arrested. Mainstream Media Blanks The Story Remember how the Social Justice Warriors of the politically correct 'left' screamed when a young black man named Trayvon Martin was shot by Hispanic George Zimmerman, because it was assumed someone named Zimmerman would be white? Remember how they wailed and stirred up civil unrest when a black man was shot by white cops in Ferguson, Missouri, automatically assuming the the killing was racially motivated. more >>>

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Top News Stories From Around The Web - 22 March 2023

Contents: [ EU caving on 2035 EV policy ] ... [ Fauci Gain Of Function confession ] ...

EU caving on 2035 EV policy

EU Already Caving On Their 2035 Combustion Engine Ban, Considering Allowing E-Fuel Vehicles

By Markus Wacket, Reuters, 22 March 2023

Cars drive on the Mittlerer Ring in Munich, Germany, Picture: REUTERS/Lukas Barth/File Photo
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Fauci Gain Of Function confession

Fauci: We ‘Need’ to Do Things ‘That Make a Pathogen More Transmissible or More Pathogenic,’ and ‘Some’ Call that Gain of Function

by Ian Hanchett, Breitbart, 22 March 2023

During a portion of an interview aired on Tuesday’s edition of PBS’ “American Masters,” former NIAID Director Dr. Anthony Fauci argued that there are “a number of experiments that need to be done on viruses” that would require “doing something under certain circumstances that make a pathogen more transmissible or more pathogenic, which some people refer to as gain of function.” Fauci stated, [relevant remarks begin around 1:12:35] “There [are] a number of experiments that need to be done on viruses. How are you going to know whether or not they’re capable of infecting humans unless you examine them? Which means doing something under certain circumstances that make a pathogen more transmissible or more pathogenic, which some people refer to as gain of function.” He also stated, “Sen. Rand Paul (R-KY) was insidiously throwing into his little questions that the work that was done in the Wuhan lab, funded by a small grant from NIH — a strong implication that that created a virus that made COVID. I have 10,000 grants throughout the world. What they’ve done is…they’ve looked at various grants and they make something of it that it isn’t. The microbe they were working on, not only was not SARS-CoV-2, it would be molecularly impossible for them to turn it into SARS-CoV-2.” Follow Ian Hanchett on Twitter @IanHanchett

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In Spite Of Government Bail out And Takeover by UBS, Swiss bank giant Credit Suisse loses more than 60 percent of its value

 

As we reported on Monday, the collapse of Swiss banking giant Credit Suisse sent shock waves through global stock markets that are still reverbrating. Banking and finance corportions experienced a sharp drop in value following the announcement by Swiss authorities that troubled Credit Suisse would be taken over by UBS Group. In an effort to prevent an international banking crisis, central banks took action to alleviate concerns, the UK’s Daily Mail reported.

In premarket trading today, Credit Suisse shares continued to fall, now having dropped 60.5% since news of the bank's financial troubles broke at weekend. When markets opened this morning they hit a new low while UBS itself experienced an 8% loss. These movements came after a frenetic dumping of European banking shares on Asian markets, where what little investor confidence there had been in official measures to contain a banking crisis evaporated quickly, the report continued.

On Sunday, after a cash injection of €54billion by Switzerlands Central Bank had failed to save the retail banker, the most notable intervention since the global financial crisis of 2008 occurred, with UBS acquiring Credit Suisse for 3 billion francs ($3.2 billion) in a sudden merger, and the world’s leading central banks committing to daily dollar funding offerings. In a deal orchestrated by Swiss regulators, UBS Group AG agreed to take over the 167-year-old Credit Suisse Group AG and absorb potential losses of up to $5.4 billion, said the outlet.

The central banks of the world announced coordinated actions to stabilize banks. They also provided access to a loan facility that allows banks to borrow dollars from the United States if needed, which was a common practice during 2008’s crisis. However with the status of the US$ as global reserve currency no longer assured, a repeat of that policy may not guarantee the same result.

The UBS acquisition has caused investors to focus on the huge financial loss that Credit Suisse bondholders will suffer. This has increased anxiety about key risks such as contagion and the fragility of U.S. regional banking systems, said the report. There is also a continuing concern about the financial health on mant banks in the European Union.

Key player in the deal to save Credit Suisse were the central bank of Switzerland, the Swiss National Bank. That’s the very same central bank that had quietly bailed out UBS, the new owner of Credit Suisse, during the financial crisis of 2008 with the assistance of similar dollar swap lines from the Federal Reserve (the “Fed”) – the central bank of the U.S.

In 2011, following an audit of its activities by the Government Accountability Office into its activities the Federal Reserve “In October 2008 the Federal Reserve Board allowed the Swiss National Bank to use dollars under its swap line agreement to provide special assistance to UBS, a large Swiss banking organization. Specifically, on October 16, 2008, the Swiss National Bank announced that it would use dollars obtained through its swap line with FRBNY [the Federal Reserve Bank of New York] to help fund an SPV [Special Purpose Vehicle] it would create to purchase up to $60 billion of illiquid assets from UBS. According to FRBNY data, from December 11, 2008, through June 2009, Swiss National Bank drew dollar amounts generally not exceeding about $13 billion to help fund this SPV that served a function similar to that of the Maiden Lane SPVs. Federal Reserve Board staff acknowledged that this was an atypical use of swap line dollars as the swap line agreements were initially designed to help foreign central banks provide dollar loans broadly to institutions facing dollar funding strains.”

Little wonder then that the takeover of Credit Suisse by UBS has failed to restore confidence and in fact seems to have increased investors nervousness about what may be about to happen in global finance.

As markets opened today, European bank shares plunged by more than 5 percent. Credit Suisse’s shares plunged over 63 percent while those of acquirer UBS fell nearly 13 percent. The wider European STOXX 600 dropped 1.6 percent before making a modest recovery.

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French President Macron Narrowly Survives Confidence Vote Over Dictatorial Pension Reforms

 

 

Riots erupted agross France again today after French President Emmanuel Macron pushed through his pension reform act, raising the official retirement age from 62 to 64m without botherring to present his proposal to the National Assembly so representatives could vote on bit. The public backlash has exceeded even the most pessimistic predictions, and there is now a good chance that a no-confidence vote this week could collapse his government. Even if he survives this second vote, having survived one  already, commentators say that opposition leader Marine Le Pen's nationalist party has never been in a better position to force Macron from, with the conservative populist emerging as the “victor” in the fierce debate over pension reform.

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Emmanuel Macron wearing his 'I just shat myself face

 Today's no-confidence motion spearheaded by a group of centrists won the support of 278 lawmakers in the lower house of parliament, a mere nine votes short of a majority.

Lawmakers are expected to vote later on a second no-confidence motion filed by Marine Le Pen’s National Rally, though that is unlikely tp pass as leftist parties will not support any proposal from Le Pen's party. 

However the battle does not end there. To pass his act, Macron’s had to invoke Article 49.3 of the French constitution, which allows him to bypass parliament and push through the increase in retirement age from 62 to 64 via decree, had been labeled the “nuclear option” by the French press.

Article 49.3 is a measure intended for use in times of national emergency and while pension reform is urgently needed it can hardly be described as an emergency so the president is on very shaky constitutional ground. And this may be Macron's undoing because within the article is a clause that a vote of no-confidence can be tabled within 24 hours after Article 49.3 is used.  Thus a third 'no confidence motion' can be tabled tomorrow and if it succeeds, it would mean the end of Macron’s government.

Although the left would never cooperate with Macron's party even on an issue on which they agree, the Liberal MP Charles de Courson could introduce an independent 'no confidence' vote and thus act as a bridge between the right and the left. The Liberals, acting as a neutral intermediary, could allow the right and the left to vote for their motion.  It has also been announced that the Liberties, Independents, Overseas and Territories (LIOT Group) is expected to table a no-confidence motion at 2:00 p.m. today as well.

Although the different factions of parliament have remained divided up until now, Macron’s dubious move to ram through pension reform without a democratic vote could finally unify the opposition against the man who, when elected vowed to rule in the style of a Roman God.

French workers protest against pension reforms (Picture: bcchpatriotpost.com

 

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UBS To Buy Credit Suisse With Guarantees From Swiss Government (but its not a bail out OK?)

After two days of playing table tennis with clients' savings and investments held by failed bank Credit Suisse, the price for acquisition by UBS (formerly Union Bank of Switzerland,) has been agreed at  CHF 3BN (US$3.25 billion), or 0.76 per share, meaning shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse. As part of the deal, the Swiss National Bank is offering a 100 billion-franc liquidity assistance to UBS while the government is granting a 9 billion-franc guarantee for likely losses on dodgy assets that are part of the deal. In effect this is a taxpayer-funded bailout (but don't call it that.)

Most significantly, however, the bank's entire AT1 tranche - some CHF16BN of Additioanal Tier 1 (AT1) bonds, a $275BN market - will be bailed in and written down to zero, to wit: "FINMA has determined that Credit Suisse’s Additional Tier 1 Capital (deriving from the issuance of Tier 1 Capital Notes) in the aggregate nominal amount of approximately CHF 16 billion will be written off to zero."

This wipe out bail-in will be the biggest loss yet for Europe’s $275 billion AT1 market, far eclipsing the approximately €1.35 billion loss suffered by junior bondholders of Spanish lender Banco Popular SA back in 2017, when it was absorbed by Banco Santander SA to avoid a collapse.

AT1 bonds were introduced in Europe in the wake of the 2014 global financial crisis to serve as a backstop when banks start to fail. They are designed to shift losses to bondholders or be converted into equity if a bank’s capital ratios fall below a viable level, effectively padding its balance sheet and allowing it to stay in business.

The bonds were by Friday already trading at levels usually reserved for companies about to go bust. A slice of the bank’s $1.65 billion note, issued less than a year ago, changed hands at about 35 cents on the dollar, according to trade reporting system Trace.

And while it may be counterintuitive, according to the Swiss bail-in regime, AT1 debt is above equity in the loss absorption waterfall.

All this is very vague and technical but what it means is that while the takeover is agreed in principle, the  deal may yet fall apart is, as banking industry insiders have warned, more nasties emerge as UBS auditors scrutinise the accounts of Credit Suisse. Once a paragon of banking integrity, Credit Suisse has been known to be in trouble for over a decade and has only stayed afloat this long due to certain creative accounting practices of dubious legality disguising the black holes in its balance sheet.

What is truly frightening is that many more banks are rumoured to be in similar or even worse trouble due to reckless lending during the years of insanely low interest rates.

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India Takes A Leading Role In De-Dollarization

 

19 March 2023

Reuters reported last Wednesday that “India’s Oil Deals With Russia Dent Decades-Old Dollar Dominance”, which highlighted the growing tendency of those and many other nations using national or or third-party currencies to settle cross border trades thus sidelining the US$ which has dominated international trade since the 1970s. 

The dollar was adopted as the primary reserve currency for international trade in 1945, and the petrodollar was established became the medium for oil trades as a result of an agreement in 1971 between the USA and Saudi Arabia.

The growing use of national or third part currencies is something significant that everyone involved i  international trade or finance should pay attention to. We reported in our currency wars feature soon after Russia’s (ahem,) special military operation began that the West’s sanctions, imposed with the aim of destroying the Russian economy, “could erode the dollar’s dominance”. Naturally we were written off as crazy conspiracy theorists for holding such an opinion but ...

Lo and behold, that’s precisely what happened, with India of all countries accelerating de-dollarization through its non-dollar-denominated energy deals with Russia. 

Since India decided that supporting US / EU sanctions was not in its best interests, Russia has become India’s largest supplier of oil and over the past year has provided a whopping 35% of that country’s needs. India is also the world’s third-largest oil importer and fifth-largest economy. having recently overtaken the UK to occupy that spot. Their new energy ties, and particularly the growing de-dollarization dimension of their deals thus must have effects all around the world.

This refusal to support sanctions or openly demonstrate support for Ukraine does not signify any anti-American sentiment on India’s part since everything is purely motivated by the pursuit of that country’s objective national interests. Delhi had no choice but to distance itself from dollar-denominated energy trades  with Moscow due to Washington’s illegal sanctions on nations that trade with Russia. Its leaders were not going to plunge the world’s most populous country into an economic crisis just to please the Dementia Joe and his whacko administration by eschewing the import of discounted oil from Russia or sacrificing the revenue earned from its exports to Russia.

By defying American pressure upon it to unilaterally concede on those aforementioned objective national interests, India’s economy ended up growing at twice the pace of China’s, which contributed to catapulting that country to the forefront of the  global systemic transition to multipolarity

. India is now well placed to establish itself as the de facto leader the Global Global South in helping fellow developing countries balance between U.S. hegemony  and the  Sino-Russo Entente. However, in spite of claims made by Dementia Joe, Boris Johnson when he was Prme Minister, Emmanuel Macron and leaders of other NATO / EU member states that the world was closing ranks around Ukraine, emboldened by the stances of Russia and China (which has its own little contretemps with the Biden administration over Taiwan, while the EU's 27 member states, the USA, UK, Canada, Australia, Japan and New Zealand (for what its worth), are supporting Zelensky's futile war, the rest of the world seems happy with a 'business as usual' relationship with Russia.

Had India complied with the US’ illegal sanctions, then the New York Times wouldn’t have recently admitted that their sanctions failed as the West’s efforts to “isolate” Russia politically also had. It was largely due to India's truly independent grand strategy that this latest phase of the New Cold War

 didn’t end in the collapse of Russia's economy and the restoration of unipolarity, which would have been detrimental to India and every other developing country’s interests while you could have safely bet your life savings that the Americans would have taken advantage of the loss of Russian oil and gas exports to EU member states to well and truly shaft the major European economies.

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Net Zero Policy Could Cost American Taxpayers More Than $50 Trillion, Engineering Professor Warns

 

An experienced and respected Engineering Professor at Cambridge University, UK, has warned that the Biden administration's commitment to to decarbonising the US economy by 2050 is doomed to failure. Professor Michael Kelly, from the University of Cambridge in the UK, has previously studied the impact of Net Zero projects in the UK and his native New Zealand and has published articles and research papers arguing that the existential threat to humanity posed by climate change narrative has been vastly exaggerated to produce a climate of fear in order to coerce the public into compliance with policies that benefit the political, corporate and financial elites.  Prof Kelly has now turned his attention to the United States, where puppet president, Joe 'Dementia Man' Biden fronts an administration of far left extremists whose avowed aim is to turn Americal into a communist, one - party state..

Kelly's headline findings in his first report on the Biden administrations efforts abandon oil, gas and coal as energy sources is a stark warning for politicians around the world.

“The cost to 2050 will comfortably exceed $12 trillion for electrification projects, and $35 trillion for improving the energy efficiency of buildings. A work-force comparable in size to the health sector will be required for 30 years, including a doubling of the present number of electrical engineers. The bill of specialist materials is of a size that, for the USA alone, is several times the global annual production.”

Professor Kelly warns that politicians are not thinking through the scale of the project they are pursuing.

“It’s clear that no country has the manpower, the materials, or the money to deliver Net Zero. It cannot be attempted without establishing a command economy, and even then it would fail. This is a fool’s errand.”

Michael Kelly: The Feasibility of a Net Zero Economy for the USA by 2050 (pdf)

 

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Election Victory For Dutch Farmers Protest Party Should Trigger A Political Earthquake In The EU

Picture: Screen grab from France 24

 

As reported in this blog's news roundup yesterday (and by France 24, which should silence those people always eager to dismiss us a just a bunch of conspiracy theorists,) the Netherlands faced a political earthquake this week as a farmers’ protest party won key elections, throwing the government’s environmental policies into disarray’.

The Farmer-Citizen Movement (BoerBurgerBeweging or BBB) was founded only four years ago as a protest pary for the purpose of drawing attention to the economically and socially damaging effects of 'Green' policies being implemented by the EU and The Netherlands government. Like most protest parties the BBB remained in obscurity until  a wave of protests earlier this year against Prime Minister Mark Rutte’s plans, in line with EU diktat, to cut nitrogen emissions created by livestock numbers and confiscating farms, as we reported last year. Now it is set to become the biggest party in the Dutch upper house of parliament with 16 or 17 seats. 

What makes this development even more significant is the importance of agriculture, and particularly dairy produce, to the national economy. Are angry Dutch farmers spearheading an uprising against the elites? Their determination in face of what amounts to theft of their generations-long livelihoods has proved it is possible. In the face of increasingly dictatorial and borderline tyrannous action by governments in the liberal democracies we can only hope other countries will now follow suit and throw out the traditional two and three party political hegemonies that have for the past fifty years served the wealthy elites of well and the less privileged majorities so badly.

Questions should now be asked about how the EU, and the supine governments of most member states, thuought they could get away with pursuing this action, not only against the Dutch farmers, for there have also been protests against the attack on farming in France, Germany, Italy, Spain, Poland and Belgium that we know of. 

At the same time the Brussels bureaucrats are ignoring the farming disaster on the Spanish coast, where a large proportion of fertile land is covered in poly tunnels so that the supermarkets of northern Europe can be supplied withfresh, out-of-season vegetables and fruit all the year round. Fertilizer has to be added to enrich the soil because forced production of crops has exhausted the soil. There is now growing consensus that there will be another water crisis in the region this summer, not bleause of climate change but because the aquifers have been drained to irrigate these crops.

The BBB victory is obviously a step in the right direction. But the way this political party is being funded has started to circulate on the interwebs. It is said this party is being funded by a company called ReMarkAble (it is lettered like that). 

It is correct that Remarkable does have connection with a big pharma company, Bayer, which also  also has links with agricultural industries as a major producer of pesticides, herbicides, fertilisers etc.

What is being done by the Dutch government in collabouration with the EU is criminal, but not unique. This kind of out unaccountable tyranny is happening because of the apathy of the general public blinded and misdirected by years of scaremongering propaganda .

This tyranny is visible in the US right now with Biden promising the banks that the US taxpayer will act as lender of last resort in the financial crisis we have reported earlier this week. Because we all pay tax one way or another \Dementia Joe's reaction to the crisis will involve a massive transfer of wealth from the poorest in society to the elites. For those families we read of every day in the news who are struggling to put food on the table it is adding insult to injury.

These people won't be removed from power through the ballot box though. To achieve that people will have to follow the French example and get out in the streets and protest, lawfully but noisily. We must make enough noise and create enough drama to ensure mainstream media cannot ignore what is going on nor Big Tech censor it..

The whole system is one built on tyranny and always has been. Only now, thanks to the internet and alt_news web pages are the general public being allowed to see clearly the contempt the elites have for the people who provide wealth and luxuries for them. Now We The People get to see the reality that has been concealed from them throughout their lives.

 

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