• 64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?
    November 27, 2023
    By Naveen Athrappully

    Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years.

    Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida.

    JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts.

    Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.

    Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California.

    Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each.

    Altogether, banks filed to shut down 64 branches.

    The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic.

    According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000.

    One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes.

    A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month.

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    “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement.

    Cost Saving, Negative Effects

    Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs.

    Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers.

    On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away.

    “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said.

    “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.”

    A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches.

    PNC Bank Closure

    PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.”

    At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts.

    PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are:

    202 N. Walnut St., Bath, Pennsylvania
    301 W. Trenton Ave., Morrisville, Pennsylvania
    14 N. Main St., Plains, Pennsylvania
    1969 E. 3rd St., Williamsport, Pennsylvania
    2 N. Mill St., New Castle, Pennsylvania
    321 Bel Air Blvd., Mobile, Alabama
    2811 Eastern Blvd., Montgomery, Alabama
    5650 S. Brainard Avenue, Countryside, Illinois
    2217 W. Market St., Bloomington, Illinois
    1949 E. Sangamon Ave., Springfield, Illinois
    505 West Liberty Street, Wauconda, Illinois
    8733 U.S. Highway 31 South, Indianapolis, Indiana
    528 Station Ave., Hadden Heights, New Jersey
    410 Main St., Orange, New Jersey
    115 E. Van Buren Ave., Harlingen, Texas
    407 S. Commerce St., Harlingen, Texas
    801 W. Kearney St., Mesquite, Texas
    1040 Mt. Vernon Ave., Columbus, Ohio
    1140 N. Main St., Gainesville, Florida
    In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online.

    A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16.

    Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent.


    Above Phone De-Googled Private Communications: SHOP
    The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent.

    “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters.

    “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.”

    Source: The Epoch Times via ZeroHedge

    Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.

    Image: Pixabay

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    https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? November 27, 2023 By Naveen Athrappully Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years. Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida. JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts. Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois. Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California. Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each. Altogether, banks filed to shut down 64 branches. The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic. According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000. One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes. A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month. Activist Post is Google-Free — We Need Your Support Contribute Just $1 Per Month at Patreon or SubscribeStar “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement. Cost Saving, Negative Effects Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs. Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers. On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away. “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said. “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.” A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches. PNC Bank Closure PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.” At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts. PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are: 202 N. Walnut St., Bath, Pennsylvania 301 W. Trenton Ave., Morrisville, Pennsylvania 14 N. Main St., Plains, Pennsylvania 1969 E. 3rd St., Williamsport, Pennsylvania 2 N. Mill St., New Castle, Pennsylvania 321 Bel Air Blvd., Mobile, Alabama 2811 Eastern Blvd., Montgomery, Alabama 5650 S. Brainard Avenue, Countryside, Illinois 2217 W. Market St., Bloomington, Illinois 1949 E. Sangamon Ave., Springfield, Illinois 505 West Liberty Street, Wauconda, Illinois 8733 U.S. Highway 31 South, Indianapolis, Indiana 528 Station Ave., Hadden Heights, New Jersey 410 Main St., Orange, New Jersey 115 E. Van Buren Ave., Harlingen, Texas 407 S. Commerce St., Harlingen, Texas 801 W. Kearney St., Mesquite, Texas 1040 Mt. Vernon Ave., Columbus, Ohio 1140 N. Main St., Gainesville, Florida In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online. A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16. Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent. Above Phone De-Googled Private Communications: SHOP The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent. “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters. “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.” Source: The Epoch Times via ZeroHedge Naveen Athrappully is a news reporter covering business and world events at The Epoch Times. Image: Pixabay Or support us at SubscribeStar Donate cryptocurrency HERE Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened. Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today. https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
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    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
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  • JPMorgan Chase and PNC Bank filed for closing over a dozen branches each, along with other major banks across the country. Are you affected?
    JPMorgan Chase and PNC Bank filed for closing over a dozen branches each, along with other major banks across the country. Are you affected?
    WWW.ACTIVISTPOST.COM
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
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  • Can You Feel The Earth Shaking?
    Normals Are Stepping Up All Over the World. Everything is Shifting. The Evidence follows:

    elizabeth nickson

    Did you hear the roar on the streets when Milei won Argentina? It built and built, and then everyone was out on the streets shouting, from windows, inside shops, houses. It is the future, all over the world. The Netherlands on Friday. Same same. Universal rejoicing.

    Absurdistan does a solid line in doom, but our firmly held first principle is that every single one of us should be two or three times as rich, with massively increased scope and ability to do the things we want to do. Defeating the criminal cartel that runs Big Pharma, Big Ag, Big Government, Big Tech and Big Charity will light up the galaxy if not the universe. And….this. Especially this:


    Unlike almost everyone in the media, Absurdistan knows regulation is the principal reason we are hornswoggled serfs. Even Trump’s team was surprised at the economic boom that came from his mild de-regulation; they thought tax relief was the key. It was important, none of us should be paying more than 25% in taxes, if that, but the regulation! You have no earthly idea how fiendish it has become until you start a business or require permission to create anything in the material world. Few journalists ever do that, the most they do is join a bank in “communications”, design an app or website, do PR, or ‘consult’. They are virtually, to a man or woman, children in the real world. So no one reports on the most brutal crippler of every man, woman and child on earth. Equally, virtually no writer I read has any grasp on the ingenuity, the creativity, the strength of the ordinary man. They all seem to think we need guidance from them, which is laughable. They have screwed up everything so utterly, we teeter daily on the edge of fiscal catastrophe

    .


    Bloomberg reports on Milei victory
    When Vivek Ramaswamy proposed instantly firing 50% of federal bureaucrats on Day One, I stood on my office chair and cheered.

    When Javier Milei tore strips of paper representing government ministries off the whiteboard, I had to go out and run around the house a few times.


    sheer heaven
    Africa is not limited by anything but confiscatory corrupt government, as asserted by Magatte Wade in her new book. Wade should be running things in Africa, which is polluted by commies, plutocrats, crooked multinationals, ravening bureaucrats, corrupt politicians and the brutalist green movement. The Chinese would stun the world if they could get rid of the vicious predatory communist regime that enslaves every man, woman and child. And not in the sense that they are “taking over”.


    The mop-up will take decades. But unpicking the bad regs and shooing the bad legislators off to permanent exile, prosecuting the army of government thieves, and creating a multi-polar world, will be more absorbing than our endless self-cherishing, self-indulgence. Have we not all shopped enough? We have powerful enemies, but they are fully aware of how destructive they have been, their guilt written on their exhausted pouchy faces.

    Trump is a symptom, not a cause

    People fighting the Borg wish for leaders but this is not a movement that requires leadership by anyone but each and every one of us. Trump is a symptom, not a cause. This is multi-headed, like Medusa, representing tens, hundreds of millions of individuals saying NO. Real politicians like Mike Johnson, Geert Wilders, Pierre Poilievre, Javier Milei, and Danielle Smith are listening to us and stepping up.

    I annoy even myself when I repeat this, but I come from a family that has been in ‘the New World’ since 1630: Puritans, Revolutionaries, infrastructure builders, town fathers and mothers. I own ten thousand pages of their records and can tell you at concrete level assurance, that one of cities they founded, Vancouver, would not be riven by Asian criminal cartels washing most of the drug money in North America through our real estate and casinos, if my great aunt and uncle were alive. They, that generation and those before, didn’t run their cities via government, they ran it through civil society, their churches and charities and cultural clubs and they told government what to do. What they decided upon, collectively, became law. Law wasn’t made by witless, inexperienced, childless men and women who move from college straight to government, it was made by those who engaged with life fully. On their block, in their neighborhood, in their city. They knew where every sparrow fell. And, by the way, my family married into Indian bands and were officers on the Underground Railroad. Everything academia and publishing tells you about the founding is arrant propaganda meant to strip you of self-respect and power.


    Boomers, Gen X, Millennials, threw away engagement and our current enslavement, our stasis, our stuck-ness, is the result. Not really our fault. We were brainwashed and mind controlled by military level psy-ops, run out of the CIA, the Tavistock Clinic and the cursed Club of Rome. Reclaiming that power is our responsibility going forward. It is the future. No one gets to go back to sleep. I wrote about our collective brainwashing extensively in August. Here is one piece:

    They Break Every Family, Every Town, Every Country

    They Break Every Family, Every Town, Every Country
    This is the second in an August series about the Head of the Snake, an examination of the cabal that is behind the Great Reset, the Covid and Global Warming hoaxes, and every profit-bonanza war of the last thirty, if not 500 years, but especially Ukraine. They call themselves by a proliferation of names: the Olympians, the Elect, Bilderbergers, the 300, demi-gods, the Black Nobility, other silly secret names that must not be spoken. They are secret because their intent is evil. They practice the occult – foolish and irresponsible – they are “Masons” of the crazy branch, a cult that operates entirely in the dark and entirely for themselves. They are as power-hungry as Hillary Clinton and far more corrupt than she or Biden or his dreadful son. They have been around for a thousand years, laughably tracing their bloodlines back to Sumer and the Pharaohs and they think that is important. In fact, who they are is Hunter Biden, he is their id, the visual manifestation of their disgusting de…

    Read full story

    Herewith a roundup of our recent victories in no particular order of importance. Many (not all) are courtesy of kevinfernandes82 on Instagram, who does yeoman work aggregating daily the many wins by populists across the world; I heartily recommend a follow to fight off despair.

    I am only describing the wins of the past ten days, and I edited out dozens. Each win represents hundreds to thousands to millions of people who stood up and took back their power.

    Politics


    Geert Wilders and his Party for Freedom won a groundbreaking victory this week.

    Libertarian Javier Milei won in Argentina, promising to strip government of many ministries.

    All of Spain on the streets calling for end to Socialism. Retired Generals call for coup to get rid of socialist Prime Minister


    .

    Danielle Smith declares that the Trudeau Liberals are a lawless government and it’s time to assert the constitution

    Bloc Quebecois calls for abolition of Governor General’s office as expenses soar 11%. This office is King Charles’s grift and a mechanism of British Round Table control. Crown land is our land, not his.

    The restaurant that kicked out GOP Governor Sarah Huckabee Sanders because she worked for Trump closes its doors.

    CEO of DeSantis super PAC resigns.

    The Conservative Party of Canada has not polled this high since the 1950’s. It outpolls the Liberals and NDP among under 30’s.

    Rudy Giuliani states that Zelensky has photographs of Hunter Biden that could bring down the Democratic Party and has been using them to blackmail Biden.

    A Republican has just beat a Democrat in the Mayoral race in Charleston, South Carolina for the first time since 1877.

    Farmers in France spray government buildings with cow manure to protest increases in charges and taxes.

    Former Black Voices for Trump wins against left-wing Fulton County District Attorney Fani Willis, as a Fulton County judge rejects a bid to lock him up over his social media posts

    4th Circuit Court of Appeals struck down part of Maryland’s laws regulating handguns.

    Putin blames the U.N.: “Due to the sabotage of U.N. decisions which clearly provide for the creation and peaceful coexistence of two independent and sovereign states, more than one generation of Palestinians has been brought up in an atmosphere of injustice.”

    Italian court convicts 207 people in Mafia maxi-trial.

    U.S. Speaker Mike Johnson releases 40,000 hours of security footage of January 6th.

    Trump has considerably more support among young voters than Joe Biden according to a new NBC poll.

    Ex-Massachusetts senator facing 28 federal charges in connection with COVID fraud investigation.

    Asian-American residents of Brighton Park Chicago are furious about illegal migrants coming to their neighbourhood. 87% voted for Biden.

    One hundred police called out after protest surrounds Trudeau at restaurant. “You have blood on your hands”, call protestors referring to the vaccine mandates.

    German constitutional court strikes down plan of left-green-liberal government: rules they may not use 60B euros intended for Covid, for climate and energy measures.

    The Crown dropped charges against a pizza parlour owner for not closing down his restaurant during covid. The hearing lasted ten minutes and the verdict greeted with cheers.

    The Irish riot after an Algerian migrant injures three children. WEFer immigration policy is on the chopping block in every country.

    The Grotesque Sexualization of the Culture is Winding Down


    Biden Pentagon official overseeing the department managing elementary schools has been arrested in a human trafficking sting in Georgia.

    Prime Minister-Elect Javier Miles and Sound of Freedom Producer Eduardo Verastegui just signed and agreement to end all human trafficking operations in Argentina.

    Andrew Cuomo sued for sexual harassment by former executive assistant.

    GOP donor Harlan Crow’s brother is accused of financing a 100-person sex trafficking ring.

    Bad Boy Label President sued for sexual assault, negligence.

    TikTok, X and Meta CEOs to face Congressional Hearing Over Child Sexual Exploitation.

    Cuba Gooding Jr hit with two civil suits related to NYC sexual assaults

    American Idol coach, and Interscope Records founder, Jimmy Iovine sued over sexual misconduct and abuse.

    NYC Mayor Eric Adams accused of sexual assault in 1993 in new legal filing

    Jeremy Fox sued for sexual assault in NYC restaurant.

    Axl Rose sued over sexual assault by former Penthouse model.

    Julia Ormond sues Harvey Weinstein, CAA and Disney for sexual battery and enabling sexual assault.

    Model claims photographer Terry Richardson raped her, sold it as art.

    Jeffrey Epstein’s multimillionaire friend accused of sexually harassing stepdaughter.

    The ex-mayor of College Park, Maryland has been sentenced to 30 years in prison for possession and distribution of child sexual abuse material. Democrat, White House guest pled guilty to 100 counts.

    Authorities allege Binance allowed bad actors to freely transact on the platform, enabling everything from child sex abuse to terrorist financing. Binance CEO steps down, Binance pays $4.3B in fines.

    A federal judge in California certified a class action lawsuit against Pornhub/MindGeek/Aylo on behalf of tens of thousands of child victims abused for profit.

    “I’m at a loss”. Trudeau governments experts upset by foot-dragging over online harms law. Trudeau is widely believed to participate in violent sexual activities.

    P Diddy settles with Cassie over abuse and trafficking, but not before his reputation is destroyed. Two more women charge choking and rape.

    Saskatchewan Party MLA charged with soliciting sexual services kicked out of government caucus.

    Stacey Abram’s brother-in-law arrested for attacking 16-year-old, human trafficking in Tampa.

    Peter Nygard convicted on four counts of sexual assault.

    World Health Organization paid sexual abuse victims in the Congo $250US each.

    John Podesta’s friend, who debunked Pizzagate, arrested for raping toddlers.

    Media/culture


    CBC admits to making multiple censorship appeals to social media platforms, so many that they say they ‘couldn’t really analyze each one correctly’.

    Big Box stores ditching self-checkout citing theft and customer preference.

    Conservatives reject Canada-Ukraine trade bill.

    The International Cricket Council bans transgender women from women’s cricket.

    Bell Media tells CRTC its priorities are backwards during Online Streaming Act hearing.

    Javier Milei announces the closure of the Ministry of Women, Gender and Equality in 21 days.

    The Director of the University of Alberta’s sexual violence center has been removed from her position after she endorsed an open letter that denied allegations of rape and sexual violence by Hamas terrorists during the October massacre.

    Elon Musk is donating all X Corp revenue from advertising and subscriptions associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.

    Morning Joe admits Ukraine has lost the war against Russia.

    Fauci admits Covid vaccine causes myocarditis in young men.

    China welcomes Arab and Muslim foreign ministers for talks on ending war in Gaza.

    X surpasses Instagram and Facebook by a significant margin in driving traffic through Google.

    Elon Musk and X file lawsuit against Media Matters. Penalties both civil and criminal.

    Ken Paxton of Texas opens investigation into Media Matters for fraud.

    Truth Social filed defamation lawsuit against twenty media companies.

    Canadians have stopped caring about climate change.

    Texas Attorney General Paxton has sued Pfizer.

    Marjorie Taylor Greene questions whether Nancy Pelosi orchestrated January 6th.

    Trump releases doctor letter touting health and weight loss on Biden’s birthday.

    The Iowa Board of Regents has voted to abolish DEI in all State Universities.

    Rumble under ‘major DDoS attack after CEO pledged to join Elon Musk to fight woke censorship.

    An official UK inquiry panel reports that Boris Johnson was bamboozled by Covid data.

    Sam Altman of OpenAI fired. Reinstated and two women board members let go.

    Sam Bankman Fried convicted. Faces decades in prison.

    Italy bans production and sale of lab grown meat.

    Trans Activist company behind Miss Universe has filed for bankruptcy.

    A female boxer in Canada withdrew from a championship match after learning she was set to fight a trans-identified male.

    Financial

    As I reported here last week, Net-Zero and ESG are on their deathbed in every country but the most insane.

    CNBC fires staff dedicated to covering climate change.

    19 Republican Attorneys General are going after the big banks for closing accounts and discriminating against customers over political/religious beliefs

    Trudeau’s billion-dollar Green Slush Fund’s head resigns, after it is discovered she funnelled $200K to her own company.

    Hong Kong bankers have lots of free time and anxiety as global dealmaking sinks.

    Bank of Canada’s Macklem says interest rates may be high enough to tame inflation.

    Bank of Canada reports that Canadians don’t need digital currency and don’t want it.

    SEC Commissioner says “there’s no reason for us to stand in the way of a Spot Bitcoin ETF.

    Russia, the most sanctioned country in the world will end the year with a $75 Billion profit. The US, the most indebted country in the world, will end 2023 with a lost of $@ Trillion.

    Luxury houses tied to China’s Evergrande chairman seized by creditor. Chairman placed under police surveillance.

    Argentine stock market up 20% after Milei’s election

    South Africa to chair BRICS extraordinary joint meeting on the situation in Gaza.

    Mortgage rates decline for the first time in two years.

    Inflation declines in Canada, the U.S. and the U.K. to lowest in two years.

    Dutch Central Bank has prepared for a new Gold Standard.

    Republicans building case against Antony Fauci. New emails show Fauci adviser suggesting he destroyed records.

    Jim Jordan issues subpoena to Bank of America for sharing customer’s private financial information with the FBI.

    Australian clamps down on migrants with criminal convictions.

    BLM activist Jayden X found guilty on all seven counts for his actions on January 6th.

    Decline in local U.S. news outlets is accelerating.

    Canada Media Fund admits subsidizing newspapers and news channels didn’t stop decline.

    Ghost busses uncovered filled with FBI agents dressed as Trump supporters on January 6th.

    Pfizer stock hits three year low, down 50% from 2021.

    Disney loses $40B from DeSantis pulling special treatment.

    Voter Fraud


    A federal judge in Georgia has ordered a trial for the case against Dominion machines.

    Trump declares he will bring everything to light, including the 2020 election fraud, concluding we need same day voting and paper ballots.

    Kim Phuong Taylor found guilty of 51 counts related to voter fraud in the election of her husband, Jeremy Taylor

    Fulton County, Georgia acknowledges that 3,600 ballots from the 2020 election audit were duplicated. Discrepancy turned over the the GA Attorney General for investigation.

    Obama-appointed federal judge just ruled against voting machines in Georgia.

    Maricopa County Elections Department has admitted they improperly certified the voting machines that failed on Election Day. Sixty percent of the machines failed.

    Trump: “We have so much evidence of election fraud, and I look forward to introducing it in my trials.”

    Colorado judge keeps Trump on 2024 primary ballot as latest 14th Amendment case falters.

    South Carolina implements Voter ID.

    Meta allows ads saying 2020 election was rigged on Facebook and Instagram.

    Stacey Abrams’ voting organization, overseen by Georgia Senator Raphael Warnock (who stole his seat), is facing serious allegations of financial fraud.

    Arizona Governor Katies Hobbs’ Election Task Force concluded that then-Secretary of State Hobbs engaged in election interference in 2022 by preventing Arizonans from voting while running her own election for governor.

    Wisconsin legislature has passed two constitutional amendment proposals that seek to prohibit noncitizen voting and the use of private money (ZuckBucks) to conduct elections.

    ZuckerBucks banned in 32 states.



    All this in fewer than ten days. The future should be blinding you right about now.

    \

    Much of the mainstream news/propaganda is designed to oppress, depress and disempower you. Even independent journalism falls into despair all too often. I fight that with every fibre of my ability. I disagree. I do not think we are lost. I don’t think there is a new dark age ahead. I think quite the opposite.

    Again, I am grateful for all the subscriptions, paid and otherwise last week. “Put a chick in it” was enormously popular. When you like, subscribe and pay, I know where to go next with my writing. Thank you especially for the founding memberships and the people who send money via PayPal, and $20 bills from Thailand - you make a huge difference. Again, I keep my prices low so if you are not rich, you can afford to support me and others. If you are rich, consider a founding membership…cheaper in the long run!

    https://elizabethnickson.substack.com/p/can-you-feel-the-earth-shaking?utm_medium=ios
    Can You Feel The Earth Shaking? Normals Are Stepping Up All Over the World. Everything is Shifting. The Evidence follows: elizabeth nickson Did you hear the roar on the streets when Milei won Argentina? It built and built, and then everyone was out on the streets shouting, from windows, inside shops, houses. It is the future, all over the world. The Netherlands on Friday. Same same. Universal rejoicing. Absurdistan does a solid line in doom, but our firmly held first principle is that every single one of us should be two or three times as rich, with massively increased scope and ability to do the things we want to do. Defeating the criminal cartel that runs Big Pharma, Big Ag, Big Government, Big Tech and Big Charity will light up the galaxy if not the universe. And….this. Especially this: Unlike almost everyone in the media, Absurdistan knows regulation is the principal reason we are hornswoggled serfs. Even Trump’s team was surprised at the economic boom that came from his mild de-regulation; they thought tax relief was the key. It was important, none of us should be paying more than 25% in taxes, if that, but the regulation! You have no earthly idea how fiendish it has become until you start a business or require permission to create anything in the material world. Few journalists ever do that, the most they do is join a bank in “communications”, design an app or website, do PR, or ‘consult’. They are virtually, to a man or woman, children in the real world. So no one reports on the most brutal crippler of every man, woman and child on earth. Equally, virtually no writer I read has any grasp on the ingenuity, the creativity, the strength of the ordinary man. They all seem to think we need guidance from them, which is laughable. They have screwed up everything so utterly, we teeter daily on the edge of fiscal catastrophe . Bloomberg reports on Milei victory When Vivek Ramaswamy proposed instantly firing 50% of federal bureaucrats on Day One, I stood on my office chair and cheered. When Javier Milei tore strips of paper representing government ministries off the whiteboard, I had to go out and run around the house a few times. sheer heaven Africa is not limited by anything but confiscatory corrupt government, as asserted by Magatte Wade in her new book. Wade should be running things in Africa, which is polluted by commies, plutocrats, crooked multinationals, ravening bureaucrats, corrupt politicians and the brutalist green movement. The Chinese would stun the world if they could get rid of the vicious predatory communist regime that enslaves every man, woman and child. And not in the sense that they are “taking over”. The mop-up will take decades. But unpicking the bad regs and shooing the bad legislators off to permanent exile, prosecuting the army of government thieves, and creating a multi-polar world, will be more absorbing than our endless self-cherishing, self-indulgence. Have we not all shopped enough? We have powerful enemies, but they are fully aware of how destructive they have been, their guilt written on their exhausted pouchy faces. Trump is a symptom, not a cause People fighting the Borg wish for leaders but this is not a movement that requires leadership by anyone but each and every one of us. Trump is a symptom, not a cause. This is multi-headed, like Medusa, representing tens, hundreds of millions of individuals saying NO. Real politicians like Mike Johnson, Geert Wilders, Pierre Poilievre, Javier Milei, and Danielle Smith are listening to us and stepping up. I annoy even myself when I repeat this, but I come from a family that has been in ‘the New World’ since 1630: Puritans, Revolutionaries, infrastructure builders, town fathers and mothers. I own ten thousand pages of their records and can tell you at concrete level assurance, that one of cities they founded, Vancouver, would not be riven by Asian criminal cartels washing most of the drug money in North America through our real estate and casinos, if my great aunt and uncle were alive. They, that generation and those before, didn’t run their cities via government, they ran it through civil society, their churches and charities and cultural clubs and they told government what to do. What they decided upon, collectively, became law. Law wasn’t made by witless, inexperienced, childless men and women who move from college straight to government, it was made by those who engaged with life fully. On their block, in their neighborhood, in their city. They knew where every sparrow fell. And, by the way, my family married into Indian bands and were officers on the Underground Railroad. Everything academia and publishing tells you about the founding is arrant propaganda meant to strip you of self-respect and power. Boomers, Gen X, Millennials, threw away engagement and our current enslavement, our stasis, our stuck-ness, is the result. Not really our fault. We were brainwashed and mind controlled by military level psy-ops, run out of the CIA, the Tavistock Clinic and the cursed Club of Rome. Reclaiming that power is our responsibility going forward. It is the future. No one gets to go back to sleep. I wrote about our collective brainwashing extensively in August. Here is one piece: They Break Every Family, Every Town, Every Country They Break Every Family, Every Town, Every Country This is the second in an August series about the Head of the Snake, an examination of the cabal that is behind the Great Reset, the Covid and Global Warming hoaxes, and every profit-bonanza war of the last thirty, if not 500 years, but especially Ukraine. They call themselves by a proliferation of names: the Olympians, the Elect, Bilderbergers, the 300, demi-gods, the Black Nobility, other silly secret names that must not be spoken. They are secret because their intent is evil. They practice the occult – foolish and irresponsible – they are “Masons” of the crazy branch, a cult that operates entirely in the dark and entirely for themselves. They are as power-hungry as Hillary Clinton and far more corrupt than she or Biden or his dreadful son. They have been around for a thousand years, laughably tracing their bloodlines back to Sumer and the Pharaohs and they think that is important. In fact, who they are is Hunter Biden, he is their id, the visual manifestation of their disgusting de… Read full story Herewith a roundup of our recent victories in no particular order of importance. Many (not all) are courtesy of kevinfernandes82 on Instagram, who does yeoman work aggregating daily the many wins by populists across the world; I heartily recommend a follow to fight off despair. I am only describing the wins of the past ten days, and I edited out dozens. Each win represents hundreds to thousands to millions of people who stood up and took back their power. Politics Geert Wilders and his Party for Freedom won a groundbreaking victory this week. Libertarian Javier Milei won in Argentina, promising to strip government of many ministries. All of Spain on the streets calling for end to Socialism. Retired Generals call for coup to get rid of socialist Prime Minister . Danielle Smith declares that the Trudeau Liberals are a lawless government and it’s time to assert the constitution Bloc Quebecois calls for abolition of Governor General’s office as expenses soar 11%. This office is King Charles’s grift and a mechanism of British Round Table control. Crown land is our land, not his. The restaurant that kicked out GOP Governor Sarah Huckabee Sanders because she worked for Trump closes its doors. CEO of DeSantis super PAC resigns. The Conservative Party of Canada has not polled this high since the 1950’s. It outpolls the Liberals and NDP among under 30’s. Rudy Giuliani states that Zelensky has photographs of Hunter Biden that could bring down the Democratic Party and has been using them to blackmail Biden. A Republican has just beat a Democrat in the Mayoral race in Charleston, South Carolina for the first time since 1877. Farmers in France spray government buildings with cow manure to protest increases in charges and taxes. Former Black Voices for Trump wins against left-wing Fulton County District Attorney Fani Willis, as a Fulton County judge rejects a bid to lock him up over his social media posts 4th Circuit Court of Appeals struck down part of Maryland’s laws regulating handguns. Putin blames the U.N.: “Due to the sabotage of U.N. decisions which clearly provide for the creation and peaceful coexistence of two independent and sovereign states, more than one generation of Palestinians has been brought up in an atmosphere of injustice.” Italian court convicts 207 people in Mafia maxi-trial. U.S. Speaker Mike Johnson releases 40,000 hours of security footage of January 6th. Trump has considerably more support among young voters than Joe Biden according to a new NBC poll. Ex-Massachusetts senator facing 28 federal charges in connection with COVID fraud investigation. Asian-American residents of Brighton Park Chicago are furious about illegal migrants coming to their neighbourhood. 87% voted for Biden. One hundred police called out after protest surrounds Trudeau at restaurant. “You have blood on your hands”, call protestors referring to the vaccine mandates. German constitutional court strikes down plan of left-green-liberal government: rules they may not use 60B euros intended for Covid, for climate and energy measures. The Crown dropped charges against a pizza parlour owner for not closing down his restaurant during covid. The hearing lasted ten minutes and the verdict greeted with cheers. The Irish riot after an Algerian migrant injures three children. WEFer immigration policy is on the chopping block in every country. The Grotesque Sexualization of the Culture is Winding Down Biden Pentagon official overseeing the department managing elementary schools has been arrested in a human trafficking sting in Georgia. Prime Minister-Elect Javier Miles and Sound of Freedom Producer Eduardo Verastegui just signed and agreement to end all human trafficking operations in Argentina. Andrew Cuomo sued for sexual harassment by former executive assistant. GOP donor Harlan Crow’s brother is accused of financing a 100-person sex trafficking ring. Bad Boy Label President sued for sexual assault, negligence. TikTok, X and Meta CEOs to face Congressional Hearing Over Child Sexual Exploitation. Cuba Gooding Jr hit with two civil suits related to NYC sexual assaults American Idol coach, and Interscope Records founder, Jimmy Iovine sued over sexual misconduct and abuse. NYC Mayor Eric Adams accused of sexual assault in 1993 in new legal filing Jeremy Fox sued for sexual assault in NYC restaurant. Axl Rose sued over sexual assault by former Penthouse model. Julia Ormond sues Harvey Weinstein, CAA and Disney for sexual battery and enabling sexual assault. Model claims photographer Terry Richardson raped her, sold it as art. Jeffrey Epstein’s multimillionaire friend accused of sexually harassing stepdaughter. The ex-mayor of College Park, Maryland has been sentenced to 30 years in prison for possession and distribution of child sexual abuse material. Democrat, White House guest pled guilty to 100 counts. Authorities allege Binance allowed bad actors to freely transact on the platform, enabling everything from child sex abuse to terrorist financing. Binance CEO steps down, Binance pays $4.3B in fines. A federal judge in California certified a class action lawsuit against Pornhub/MindGeek/Aylo on behalf of tens of thousands of child victims abused for profit. “I’m at a loss”. Trudeau governments experts upset by foot-dragging over online harms law. Trudeau is widely believed to participate in violent sexual activities. P Diddy settles with Cassie over abuse and trafficking, but not before his reputation is destroyed. Two more women charge choking and rape. Saskatchewan Party MLA charged with soliciting sexual services kicked out of government caucus. Stacey Abram’s brother-in-law arrested for attacking 16-year-old, human trafficking in Tampa. Peter Nygard convicted on four counts of sexual assault. World Health Organization paid sexual abuse victims in the Congo $250US each. John Podesta’s friend, who debunked Pizzagate, arrested for raping toddlers. Media/culture CBC admits to making multiple censorship appeals to social media platforms, so many that they say they ‘couldn’t really analyze each one correctly’. Big Box stores ditching self-checkout citing theft and customer preference. Conservatives reject Canada-Ukraine trade bill. The International Cricket Council bans transgender women from women’s cricket. Bell Media tells CRTC its priorities are backwards during Online Streaming Act hearing. Javier Milei announces the closure of the Ministry of Women, Gender and Equality in 21 days. The Director of the University of Alberta’s sexual violence center has been removed from her position after she endorsed an open letter that denied allegations of rape and sexual violence by Hamas terrorists during the October massacre. Elon Musk is donating all X Corp revenue from advertising and subscriptions associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza. Morning Joe admits Ukraine has lost the war against Russia. Fauci admits Covid vaccine causes myocarditis in young men. China welcomes Arab and Muslim foreign ministers for talks on ending war in Gaza. X surpasses Instagram and Facebook by a significant margin in driving traffic through Google. Elon Musk and X file lawsuit against Media Matters. Penalties both civil and criminal. Ken Paxton of Texas opens investigation into Media Matters for fraud. Truth Social filed defamation lawsuit against twenty media companies. Canadians have stopped caring about climate change. Texas Attorney General Paxton has sued Pfizer. Marjorie Taylor Greene questions whether Nancy Pelosi orchestrated January 6th. Trump releases doctor letter touting health and weight loss on Biden’s birthday. The Iowa Board of Regents has voted to abolish DEI in all State Universities. Rumble under ‘major DDoS attack after CEO pledged to join Elon Musk to fight woke censorship. An official UK inquiry panel reports that Boris Johnson was bamboozled by Covid data. Sam Altman of OpenAI fired. Reinstated and two women board members let go. Sam Bankman Fried convicted. Faces decades in prison. Italy bans production and sale of lab grown meat. Trans Activist company behind Miss Universe has filed for bankruptcy. A female boxer in Canada withdrew from a championship match after learning she was set to fight a trans-identified male. Financial As I reported here last week, Net-Zero and ESG are on their deathbed in every country but the most insane. CNBC fires staff dedicated to covering climate change. 19 Republican Attorneys General are going after the big banks for closing accounts and discriminating against customers over political/religious beliefs Trudeau’s billion-dollar Green Slush Fund’s head resigns, after it is discovered she funnelled $200K to her own company. Hong Kong bankers have lots of free time and anxiety as global dealmaking sinks. Bank of Canada’s Macklem says interest rates may be high enough to tame inflation. Bank of Canada reports that Canadians don’t need digital currency and don’t want it. SEC Commissioner says “there’s no reason for us to stand in the way of a Spot Bitcoin ETF. Russia, the most sanctioned country in the world will end the year with a $75 Billion profit. The US, the most indebted country in the world, will end 2023 with a lost of $@ Trillion. Luxury houses tied to China’s Evergrande chairman seized by creditor. Chairman placed under police surveillance. Argentine stock market up 20% after Milei’s election South Africa to chair BRICS extraordinary joint meeting on the situation in Gaza. Mortgage rates decline for the first time in two years. Inflation declines in Canada, the U.S. and the U.K. to lowest in two years. Dutch Central Bank has prepared for a new Gold Standard. Republicans building case against Antony Fauci. New emails show Fauci adviser suggesting he destroyed records. Jim Jordan issues subpoena to Bank of America for sharing customer’s private financial information with the FBI. Australian clamps down on migrants with criminal convictions. BLM activist Jayden X found guilty on all seven counts for his actions on January 6th. Decline in local U.S. news outlets is accelerating. Canada Media Fund admits subsidizing newspapers and news channels didn’t stop decline. Ghost busses uncovered filled with FBI agents dressed as Trump supporters on January 6th. Pfizer stock hits three year low, down 50% from 2021. Disney loses $40B from DeSantis pulling special treatment. Voter Fraud A federal judge in Georgia has ordered a trial for the case against Dominion machines. Trump declares he will bring everything to light, including the 2020 election fraud, concluding we need same day voting and paper ballots. Kim Phuong Taylor found guilty of 51 counts related to voter fraud in the election of her husband, Jeremy Taylor Fulton County, Georgia acknowledges that 3,600 ballots from the 2020 election audit were duplicated. Discrepancy turned over the the GA Attorney General for investigation. Obama-appointed federal judge just ruled against voting machines in Georgia. Maricopa County Elections Department has admitted they improperly certified the voting machines that failed on Election Day. Sixty percent of the machines failed. Trump: “We have so much evidence of election fraud, and I look forward to introducing it in my trials.” Colorado judge keeps Trump on 2024 primary ballot as latest 14th Amendment case falters. South Carolina implements Voter ID. Meta allows ads saying 2020 election was rigged on Facebook and Instagram. Stacey Abrams’ voting organization, overseen by Georgia Senator Raphael Warnock (who stole his seat), is facing serious allegations of financial fraud. Arizona Governor Katies Hobbs’ Election Task Force concluded that then-Secretary of State Hobbs engaged in election interference in 2022 by preventing Arizonans from voting while running her own election for governor. Wisconsin legislature has passed two constitutional amendment proposals that seek to prohibit noncitizen voting and the use of private money (ZuckBucks) to conduct elections. ZuckerBucks banned in 32 states. All this in fewer than ten days. The future should be blinding you right about now. \ Much of the mainstream news/propaganda is designed to oppress, depress and disempower you. Even independent journalism falls into despair all too often. I fight that with every fibre of my ability. I disagree. I do not think we are lost. I don’t think there is a new dark age ahead. I think quite the opposite. Again, I am grateful for all the subscriptions, paid and otherwise last week. “Put a chick in it” was enormously popular. When you like, subscribe and pay, I know where to go next with my writing. Thank you especially for the founding memberships and the people who send money via PayPal, and $20 bills from Thailand - you make a huge difference. Again, I keep my prices low so if you are not rich, you can afford to support me and others. If you are rich, consider a founding membership…cheaper in the long run! https://elizabethnickson.substack.com/p/can-you-feel-the-earth-shaking?utm_medium=ios
    ELIZABETHNICKSON.SUBSTACK.COM
    Can You Feel The Earth Shaking?
    Normals Are Stepping Up All Over the World. Everything is Shifting. The Evidence follows:
    0 Commenti 0 condivisioni 7196 Views
  • The Process of “All-Digitization”

    The World Economic Forum (WEF) which represents the Western financial elites, played a key role in the launching of the March 11, 2020 lockdown, which was conducive to a Worldwide process of economic and social chaos.
    The WEF is now pointing to: “A cyber-attack with COVID-like characteristics”, which promises to be far more devastating and chaotic than the Covid-19 pandemic.

    The World Economic Forum’s “Concept 2021”. Cyber Polygon Scenario


    The World Economic Forum (WEF) which co-sponsored Event 201, the table top simulation of the corona pandemic together with John Hopkins and the Gates Foundation in October 2019, has been involved in another strategic exercise entitled Concept 2021. The latter is described as an:

    “international capacity building initiative aimed at raising the global cyber resilience”.

    It is not a table top simulation comparable to Event 201.

    Last year it was conducted at the height of the lockdown via video conferencing. This year, the 2021 Conference “discussed the “key risks of digitalization”.

    Those participating in the Cyber Polygon Exercise (2020) included high tech companies including IBM, numerous banks and financial institutions, internet companies, cyber security agencies, corporate and government media, think tanks, law enforcement agencies including Interpol with representatives from 48 countries.

    The exercise was an obvious means to secure reliable partners and develop strategic alliances. In this regard, there were numerous representatives from Russia and countries of the former Soviet Union, including major Russian banking interests, communications and media companies. All in all 42 partners. No corporate /governmental partners from China, participated in the simulation.

    There was also a training program with 200 teams from 48 countries. Cyber Attack With Covid-like Characteristics

    Simulation of A Cyber-Attack. Towards A Complete Halt to Power Supply, Communications, Transportation



    Klaus Schwab, founder and Executive Director of the WEF and architect of the “Great Reset” describes the crisis scenario as follows:

    “The frightening scenario of a comprehensive cyber attack could bring a complete halt to the power supply, transportation, hospital services, our society as a whole. The COVID-19 crisis would be seen in this respect as a small disturbance in comparison to a major cyberattack.” (emphasis added)

    Jeremy Jurgens, WEF Managing Director:

    “I believe that there will be another crisis. It will be more significant. It will be faster than what we’ve seen with COVID. The impact will be greater, and as a result the economic and social implications will be even more significant.” (emphasis added)

    The implications of these bold “predictions” which represent the interests of the financial establishment are far-reaching.

    What they describe is a scenario of economic and social chaos involving the disruption of communications systems, the internet, financial and money transactions (including SWIFT), the power grid, global transportation, commodity trade, etc., as well as likely “geopolitical dislocations”.

    The opening session (July 2021) of Cyber Polygon 2021 was conducted (video below) by the Prime Minister of the Russian Federation Mikhail Mishustin together with the Director General of the WEF Klaus Schwab.

    According to Mikhail Mishustin, Prime Minister of the Russian Federation

    “Addressing cyberthreats and securing our common digital future are among the priorities of every government and company. …”

    Video. The Opening Session featuring the Prime Minister of the Russian Federation and Klaus Schwab (July 2021).


    https://www.globalresearch.ca/towards-another-devastating-worldwide-crisis-the-wefs-cyber-attack-with-covid-like-characteristics-paralysis-of-the-power-supply-communications-transportation/5764374
    The Process of “All-Digitization” The World Economic Forum (WEF) which represents the Western financial elites, played a key role in the launching of the March 11, 2020 lockdown, which was conducive to a Worldwide process of economic and social chaos. The WEF is now pointing to: “A cyber-attack with COVID-like characteristics”, which promises to be far more devastating and chaotic than the Covid-19 pandemic. The World Economic Forum’s “Concept 2021”. Cyber Polygon Scenario The World Economic Forum (WEF) which co-sponsored Event 201, the table top simulation of the corona pandemic together with John Hopkins and the Gates Foundation in October 2019, has been involved in another strategic exercise entitled Concept 2021. The latter is described as an: “international capacity building initiative aimed at raising the global cyber resilience”. It is not a table top simulation comparable to Event 201. Last year it was conducted at the height of the lockdown via video conferencing. This year, the 2021 Conference “discussed the “key risks of digitalization”. Those participating in the Cyber Polygon Exercise (2020) included high tech companies including IBM, numerous banks and financial institutions, internet companies, cyber security agencies, corporate and government media, think tanks, law enforcement agencies including Interpol with representatives from 48 countries. The exercise was an obvious means to secure reliable partners and develop strategic alliances. In this regard, there were numerous representatives from Russia and countries of the former Soviet Union, including major Russian banking interests, communications and media companies. All in all 42 partners. No corporate /governmental partners from China, participated in the simulation. There was also a training program with 200 teams from 48 countries. Cyber Attack With Covid-like Characteristics Simulation of A Cyber-Attack. Towards A Complete Halt to Power Supply, Communications, Transportation Klaus Schwab, founder and Executive Director of the WEF and architect of the “Great Reset” describes the crisis scenario as follows: “The frightening scenario of a comprehensive cyber attack could bring a complete halt to the power supply, transportation, hospital services, our society as a whole. The COVID-19 crisis would be seen in this respect as a small disturbance in comparison to a major cyberattack.” (emphasis added) Jeremy Jurgens, WEF Managing Director: “I believe that there will be another crisis. It will be more significant. It will be faster than what we’ve seen with COVID. The impact will be greater, and as a result the economic and social implications will be even more significant.” (emphasis added) The implications of these bold “predictions” which represent the interests of the financial establishment are far-reaching. What they describe is a scenario of economic and social chaos involving the disruption of communications systems, the internet, financial and money transactions (including SWIFT), the power grid, global transportation, commodity trade, etc., as well as likely “geopolitical dislocations”. The opening session (July 2021) of Cyber Polygon 2021 was conducted (video below) by the Prime Minister of the Russian Federation Mikhail Mishustin together with the Director General of the WEF Klaus Schwab. According to Mikhail Mishustin, Prime Minister of the Russian Federation “Addressing cyberthreats and securing our common digital future are among the priorities of every government and company. …” Video. The Opening Session featuring the Prime Minister of the Russian Federation and Klaus Schwab (July 2021). https://www.globalresearch.ca/towards-another-devastating-worldwide-crisis-the-wefs-cyber-attack-with-covid-like-characteristics-paralysis-of-the-power-supply-communications-transportation/5764374
    WWW.GLOBALRESEARCH.CA
    Another Crisis "Much Worse than Covid", Paralysis of Power Supply, Communications, Transportation. The WEF "Cyber Attack" Scenario
    All Global Research articles can be read in 51 languages by activating the “Translate Website” drop down menu on the top banner of our home page (Desktop version). Visit and follow us on Instagram at @crg_globalresearch. First published on December 15, 2021 Author’s Introduction and Update The World Economic Forum (WEF) which represents the Western financial …
    0 Commenti 0 condivisioni 2121 Views
  • "Transform Your International Transactions with Wise!" This innovative platform revolutionizes the way you manage money across borders, and now you can start with a special advantage. Here's why Wise stands out:

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    "Transform Your International Transactions with Wise!" This innovative platform revolutionizes the way you manage money across borders, and now you can start with a special advantage. Here's why Wise stands out: Quick Account Setup: Effortlessly open an account online, complete a basic verification, and you're set for global transactions. Affordable Transfers: Enjoy low fees and competitive exchange rates, saving you money on every international transfer compared to traditional banks. User-Friendly Process: Whether sending or receiving money, Wise makes it simple. Choose your amount, enter details, and select from multiple payment methods - all with transparent pricing. Global Reach: With operations in key regions like Europe, the U.S., Singapore, and more, Wise's extensive network ensures easy access to your funds worldwide. Wise is the go-to choice for efficient, cost-effective international money management, perfect for travelers, expats, and global business dealings. Start your Wise journey with a bonus by using my referral code at https://wise.com/invite/dic/nicolasd266.
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    Banks sting you with hidden charges when you send or spend money internationally. But that’s yesterday’s problem. Say hello to Wise – the clever new way to move your money.
    0 Commenti 0 condivisioni 1756 Views
  • US and Israel headed for some sort of mega black swan event
    ByBenjamin Fulford November 6, 2023
    The signs are multiplying that the US and Israel are headed for some sort of mega black swan event. The result will be that both countries cease to exist in their present format. That is because the Federal Reserve Board -the fountain of power for the Satanists- is on the verge of collapse. If it goes, then everything under it, such as the UNITED STATES OF AMERICA CORPORATION, the BIS, the World Bank, the IMF, the UN and 90% of the world’s transnational corporations will also collapse and come under new management.
    The signs of FRB collapse are manifold. As we have previously noted, the FRB interest rate of 5.25% has mathematically doomed at least half of all US Banks because it has devalued all the zero or close to zero interest stuff on their books. The FRB is now resorting to fraudulent accounting to hide the resulting bank run.
    This was seen when deposits at most of the big US banks (owners of the FRB) were “delayed” by the FRBs Automated Clearing House (ACH), network.
    https://edition.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html
    This apparently allowed the FRB to use “seasonal adjustment” fakery to turn a $33 billion deposit outflow (bank run) into a $52 billion inflow. This trickery has magically boosted deposits by $168 billion since April. Since FRB rules allow 1000 times leverage, these fake deposits back $168 trillion worth of “financial instruments.” In other words, the whole financial house of cards rests on a foundation of fraud.
    https://www.zerohedge.com/markets/fed-fkery-turns-massive-33bn-bank-deposit-outflow-51bn-inflow
    The US banks are also now stealing people’s money outright as well. Many bank customers are getting letters saying all of their checking and savings accounts are being closed. The explanation, if there is one, is something like “Per your account agreement, we can close your account for any reason at any time.”
    https://dnyuz.com/2023/11/05/why-banks-are-suddenly-closing-down-customer-accounts/
    This is happening in Australia and other KM-controlled countries as well.
    The KM are also now pushing desperately to outlaw cash and force us into a digital prison. The new FedNow inter-banking communication system is “possibly unconstitutional” and “threatens the very freedoms that all liberty-loving American citizens should hold dear,” says Bitcoin Magazine Editor Mark Goodwin in response to an FRB attempt to silence his publications’ criticism of this system.
    https://bitcoinmagazine.com/legal/federal-reserve-threatens-to-sue-bitcoin-magazine
    These moves are connected to the upcoming November 15th deadline for the US government to “raise the debt limit.” We are hearing the Chinese and other creditors to the US are determined not to let the US “government” circus show continue any longer.
    This financial trouble is why a political or military-type mega black swan event is probable. In the past, the FRB has responded to crises of this nature with events like 911, Fukushima and most recently the pandemic and vaccine global genocide attempt.
    One possibility is some sort of holocaust or mass sacrifice to Satan is being planned for Israel. We are getting credible reports from foreign diplomats based there that large portions of the country have been evacuated to Ukraine. These coincide with reports from Russia that roadblocks have been set up in the Ukraine and only people who can prove they are Jewish are being allowed past them.
    Mossad sources further claim Israel as a corporation has expired on October 31st. Also, China has removed Israel from its maps.
    In response, Netanyahu has appeared showing a map of Israel minus the Gaza strip. The last thing left for Israel to do is wage a Great War.
    “Israel is a global terrorist organization. That’s exactly what they are, but It is better to refer to them as the cancer of planet Earth,” a Mossad source says.
    In another sign Jews still in Israel are being prepared for another Holocaust, Satanic thugs in Israel are violently attacking genuine Jews who are protesting the genocidal acts of their government.
    According to MI6, the people behind this are Crime Minister Benyamin Netanyahu and “a group of extremist Israeli nationalists who assassinated various international characters over the years including a Swedish count by all accounts so to speak and also had a go at a certain Mr. Winston Churchill back in the day. They style their vision of a modern Israel on the fascist states of Spain, Italy and Germany…The joint Israel and Gaza Strip incursions are indeed a slaughterhouse of blood sacrifice and now genocide. Left unchecked they will level the entire place to the ground and all in it.”
    Netanyahu himself refers to his Jewish and Palestinian enemies as Amalek:
    “The Lord ordered King Saul to destroy the enemy and all his people: ‘Now go and defeat Amalek and destroy all that he has; and give him no mercy: but put to death both Husband and wife; from youth to infant; from ox to sheep; from camel to donkey.” Book of Samuel 15:3.
    Heritage Minister Amichai Eliyahu agrees saying “One of Israel’s options in the war in Gaza is to drop a nuclear bomb on the strip,”
    https://www.yenisafak.com/en/news/saudi-arabia-condemns-israeli-officials-statements-on-using-nuclear-weapon-on-gaza-3673010
    In a sign they know something is about to happen there, the Pentagon will no longer allow its senior military leaders to travel to Israel and will discourage members of Congress from making trips. “Israel will not recover from this mistake,” a senior CIA source warns.
    In other words, unless action is taken, the KM are about to stage a murder-suicide of Israel rather than accept Jewish liberation from millennia of Satanic control.
    Turkey might step in by reasserting control over Israel. “It is Türkiye’s duty to stop the bloodshed in Gaza,” President Recep Erdogan said on Sunday. “We are doing and will continue to do more than what is visible,” he said implying NATO’s largest army might intervene.
    https://www.yenisafak.com/en/news/stopping-bloodshed-in-gaza-is-turkiyes-duty-president-erdogan-3673004‘
    There is also evidence some sort of truly horrific event is being planned for
    The remainder of Monday's newsletter is only available to members of BenjaminFulford.net holding a paid subscription. If you believe this message is being displayed in error, check that you are logged in to your account.
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    AS dan Israel menuju semacam acara mega black swan

    Oleh Benjamin Fulford 6 November 2023

    Tanda-tandanya berlipat ganda bahwa AS dan Israel sedang menuju semacam acara mega angsa hitam. Hasilnya adalah kedua negara tidak ada lagi dalam format mereka saat ini. Itu karena Federal Reserve Board -sumber kekuatan bagi para Satanis- berada di ambang kehancuran. Jika itu berjalan, maka segala sesuatu di bawahnya, seperti KORPORASI AMERIKA SERIKAT, BIS, Bank Dunia, IMF, PBB dan 90% perusahaan transnasional dunia juga akan runtuh dan berada di bawah manajemen baru.

    Tanda-tanda keruntuhan FRB bermacam-macam. Seperti yang telah kami catat sebelumnya, tingkat bunga FRB sebesar 5,25% secara matematis telah menghancurkan setidaknya setengah dari semua Bank AS karena telah mendevaluasi semua hal bunga nol atau mendekati nol pada pembukuan mereka. FRB sekarang menggunakan akuntansi palsu untuk menyembunyikan lari bank yang dihasilkan.

    Hal ini terlihat ketika deposito di sebagian besar bank besar AS (pemilik FRB) "tertunda" oleh FRB Automated Clearing House (ACH), jaringan.

    Https://edition.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html

    Ini tampaknya memungkinkan FRB untuk menggunakan "penyesuaian musiman" palsu untuk mengubah arus keluar deposito $33 miliar (bank run) menjadi arus masuk $52 miliar. Trik ini secara ajaib telah meningkatkan simpanan sebesar $168 miliar sejak April. Karena aturan FRB mengizinkan 1000 kali leverage, setoran palsu ini mengembalikan "instrumen keuangan" senilai $168 triliun. Dengan kata lain, seluruh rumah keuangan kartu bertumpu pada dasar penipuan.

    Https://www.zerohedge.com/markets/fed-fkery-turns-massive-33bn-bank-deposit-outflow-51bn-inflow

    Bank-bank AS juga sekarang mencuri uang orang secara langsung. Banyak pelanggan bank mendapatkan surat yang mengatakan semua rekening giro dan tabungan mereka ditutup. Penjelasannya, jika ada, adalah sesuatu seperti "Sepak dengan perjanjian akun Anda, kami dapat menutup akun Anda untuk alasan apa pun kapan saja."

    Https://dnyuz.com/2023/11/05/mengapa-bank-tiba-tiba-menutup-akun-pelanggan/

    Ini terjadi di Australia dan negara-negara lain yang dikendalikan KM- juga.

    KM juga sekarang berusaha mati-matian untuk melarang uang tunai dan memaksa kita masuk ke penjara digital. Sistem komunikasi antar-bank FedNow yang baru "mungkin tidak konstitusional" dan "mengancam kebebasan yang harus disayangi oleh semua warga Amerika yang mencintai kebebasan," kata Editor Majalah Bitcoin Mark Goodwin dalam menanggapi upaya FRB untuk membungkam kritik publikasinya terhadap sistem ini.

    Https://bitcoinmagazine.com/legal/federal-reserve-threatens-to-sue-bitcoin-magazine

    Langkah-langkah ini terhubung dengan batas waktu 15 November mendatang bagi pemerintah AS untuk "meningkatkan batas utang." Kami mendengar Cina dan kreditor lain ke AS bertekad untuk tidak membiarkan pertunjukan sirkus "pemerintah" AS berlanjut lebih lama lagi.

    Masalah keuangan inilah mengapa acara angsa hitam mega tipe politik atau militer- kemungkinan besar. Di masa lalu, FRB telah menanggapi krisis seperti ini dengan peristiwa seperti 911, Fukushima dan yang terbaru adalah upaya genosida global pandemi dan vaksin.

    Salah satu kemungkinannya adalah semacam holocaust atau pengorbanan massal kepada Setan sedang direncanakan untuk Israel. Kami mendapatkan laporan yang kredibel dari diplomat asing yang berbasis di sana bahwa sebagian besar negara telah dievakuasi ke Ukraina. Ini bertepatan dengan laporan dari Rusia bahwa penghalang jalan telah didirikan di Ukraina dan hanya orang-orang yang dapat membuktikan bahwa mereka adalah orang Yahudi yang diizinkan melewatinya.

    Sumber Mossad lebih lanjut mengklaim Israel sebagai perusahaan telah kedaluwarsa pada 31 Oktober. Juga, Cina telah menghapus Israel dari petanya.

    Sebagai tanggapan, Netanyahu telah muncul menunjukkan peta Israel dikurangi jalur Gaza. Hal terakhir yang tersisa untuk dilakukan Israel adalah mengobarkan Perang Besar.

    “Israel adalah organisasi teroris global. Itulah tepatnya mereka, tetapi lebih baik menyebut mereka sebagai kanker planet Bumi,” kata sumber Mossad.

    Dalam tanda lain orang Yahudi masih di Israel sedang dipersiapkan untuk Holocaust lain, preman Setan di Israel dengan keras menyerang orang Yahudi asli yang memprotes tindakan genosida pemerintah mereka.

    Menurut MI6, orang-orang di balik ini adalah Menteri Kejahatan Benyamin Netanyahu dan "sekelompok nasionalis Israel ekstremis yang membunuh berbagai karakter internasional selama bertahun-tahun termasuk hitungan Swedia oleh semua akun sehingga untuk berbicara dan juga mencoba Mr. Winston Churchill tertentu pada hari itu. Mereka menata visi mereka tentang Israel modern di negara-negara fasis Spanyol, Italia, dan Jerman... Serangan gabungan Israel dan Jalur Gaza memang rumah jagal pengorbanan darah dan sekarang genosida. Dibiarkan tidak dicentang, mereka akan meratakan seluruh tempat ke tanah dan semua di dalamnya.”

    Netanyahu sendiri menyebut musuh Yahudi dan Palestinanya sebagai Amalek:

    "Tuhan memerintahkan Raja Saul untuk menghancurkan musuh dan seluruh rakyatnya: 'Sekarang pergilah dan kalahkan Amalek dan hancurkan semua yang dia miliki; dan jangan beri dia belas kasihan: tetapi bunuh suami dan istri; dari masa muda hingga bayi; dari sapi hingga domba; dari unta hingga keledai." Kitab Samuel 15:3.

    Menteri Warisan Amichai Eliyahu setuju mengatakan "Salah satu pilihan Israel dalam perang di Gaza adalah menjatuhkan bom nuklir di jalur tersebut,"

    Https://www.yenisafak.com/en/news/saudi-arabia-mengutuk-israel-penyataan-tentang-menggunakan-senjata-nuklir-pada-gaza-3673010

    Dalam tanda mereka tahu sesuatu akan terjadi di sana, Pentagon tidak akan lagi mengizinkan para pemimpin militer seniornya untuk melakukan perjalanan ke Israel dan akan mencegah anggota Kongres melakukan perjalanan. "Israel tidak akan pulih dari kesalahan ini," sumber senior CIA memperingatkan.

    Dengan kata lain, kecuali tindakan diambil, KM akan melakukan pembunuhan-bunuh diri Israel daripada menerima pembebasan Yahudi dari ribuan tahun kendali Setan.

    Turki mungkin turun langkah dengan menegaskan kembali kendali atas Israel. "Ini adalah tugas Türkiye untuk menghentikan pertumpahan darah di Gaza," kata Presiden Recep Erdogan pada hari Minggu. "Kami sedang melakukan dan akan terus melakukan lebih dari apa yang terlihat," katanya menyiratkan tentara terbesar NATO mungkin campur tangan.

    Https://www.yenisafak.com/en/news/stopping-bloodshed-in-gaza-is-turkiyes-duty-president-erdogan-3673004'

    Ada juga bukti bahwa semacam peristiwa yang benar-benar mengerikan sedang direncanakan untuk

    Sisa buletin hari Senin hanya tersedia untuk anggota BenjaminFulford.net yang memiliki langganan berbayar. Jika Anda yakin pesan ini ditampilkan karena kesalahan, periksa apakah Anda masuk ke akun Anda.

    Jika Anda tidak masuk atau perlu membuat akun, silakan lakukan di menu utama.

    Jika Anda masih mengalami masalah, silakan kirim email ke [email protected]

    Lupa Kata Sandi
    US and Israel headed for some sort of mega black swan event ByBenjamin Fulford November 6, 2023 The signs are multiplying that the US and Israel are headed for some sort of mega black swan event. The result will be that both countries cease to exist in their present format. That is because the Federal Reserve Board -the fountain of power for the Satanists- is on the verge of collapse. If it goes, then everything under it, such as the UNITED STATES OF AMERICA CORPORATION, the BIS, the World Bank, the IMF, the UN and 90% of the world’s transnational corporations will also collapse and come under new management. The signs of FRB collapse are manifold. As we have previously noted, the FRB interest rate of 5.25% has mathematically doomed at least half of all US Banks because it has devalued all the zero or close to zero interest stuff on their books. The FRB is now resorting to fraudulent accounting to hide the resulting bank run. This was seen when deposits at most of the big US banks (owners of the FRB) were “delayed” by the FRBs Automated Clearing House (ACH), network. https://edition.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html This apparently allowed the FRB to use “seasonal adjustment” fakery to turn a $33 billion deposit outflow (bank run) into a $52 billion inflow. This trickery has magically boosted deposits by $168 billion since April. Since FRB rules allow 1000 times leverage, these fake deposits back $168 trillion worth of “financial instruments.” In other words, the whole financial house of cards rests on a foundation of fraud. https://www.zerohedge.com/markets/fed-fkery-turns-massive-33bn-bank-deposit-outflow-51bn-inflow The US banks are also now stealing people’s money outright as well. Many bank customers are getting letters saying all of their checking and savings accounts are being closed. The explanation, if there is one, is something like “Per your account agreement, we can close your account for any reason at any time.” https://dnyuz.com/2023/11/05/why-banks-are-suddenly-closing-down-customer-accounts/ This is happening in Australia and other KM-controlled countries as well. The KM are also now pushing desperately to outlaw cash and force us into a digital prison. The new FedNow inter-banking communication system is “possibly unconstitutional” and “threatens the very freedoms that all liberty-loving American citizens should hold dear,” says Bitcoin Magazine Editor Mark Goodwin in response to an FRB attempt to silence his publications’ criticism of this system. https://bitcoinmagazine.com/legal/federal-reserve-threatens-to-sue-bitcoin-magazine These moves are connected to the upcoming November 15th deadline for the US government to “raise the debt limit.” We are hearing the Chinese and other creditors to the US are determined not to let the US “government” circus show continue any longer. This financial trouble is why a political or military-type mega black swan event is probable. In the past, the FRB has responded to crises of this nature with events like 911, Fukushima and most recently the pandemic and vaccine global genocide attempt. One possibility is some sort of holocaust or mass sacrifice to Satan is being planned for Israel. We are getting credible reports from foreign diplomats based there that large portions of the country have been evacuated to Ukraine. These coincide with reports from Russia that roadblocks have been set up in the Ukraine and only people who can prove they are Jewish are being allowed past them. Mossad sources further claim Israel as a corporation has expired on October 31st. Also, China has removed Israel from its maps. In response, Netanyahu has appeared showing a map of Israel minus the Gaza strip. The last thing left for Israel to do is wage a Great War. “Israel is a global terrorist organization. That’s exactly what they are, but It is better to refer to them as the cancer of planet Earth,” a Mossad source says. In another sign Jews still in Israel are being prepared for another Holocaust, Satanic thugs in Israel are violently attacking genuine Jews who are protesting the genocidal acts of their government. According to MI6, the people behind this are Crime Minister Benyamin Netanyahu and “a group of extremist Israeli nationalists who assassinated various international characters over the years including a Swedish count by all accounts so to speak and also had a go at a certain Mr. Winston Churchill back in the day. They style their vision of a modern Israel on the fascist states of Spain, Italy and Germany…The joint Israel and Gaza Strip incursions are indeed a slaughterhouse of blood sacrifice and now genocide. Left unchecked they will level the entire place to the ground and all in it.” Netanyahu himself refers to his Jewish and Palestinian enemies as Amalek: “The Lord ordered King Saul to destroy the enemy and all his people: ‘Now go and defeat Amalek and destroy all that he has; and give him no mercy: but put to death both Husband and wife; from youth to infant; from ox to sheep; from camel to donkey.” Book of Samuel 15:3. Heritage Minister Amichai Eliyahu agrees saying “One of Israel’s options in the war in Gaza is to drop a nuclear bomb on the strip,” https://www.yenisafak.com/en/news/saudi-arabia-condemns-israeli-officials-statements-on-using-nuclear-weapon-on-gaza-3673010 In a sign they know something is about to happen there, the Pentagon will no longer allow its senior military leaders to travel to Israel and will discourage members of Congress from making trips. “Israel will not recover from this mistake,” a senior CIA source warns. In other words, unless action is taken, the KM are about to stage a murder-suicide of Israel rather than accept Jewish liberation from millennia of Satanic control. Turkey might step in by reasserting control over Israel. “It is Türkiye’s duty to stop the bloodshed in Gaza,” President Recep Erdogan said on Sunday. “We are doing and will continue to do more than what is visible,” he said implying NATO’s largest army might intervene. https://www.yenisafak.com/en/news/stopping-bloodshed-in-gaza-is-turkiyes-duty-president-erdogan-3673004‘ There is also evidence some sort of truly horrific event is being planned for The remainder of Monday's newsletter is only available to members of BenjaminFulford.net holding a paid subscription. If you believe this message is being displayed in error, check that you are logged in to your account. If you are not logged in or need to make an account, please do so on the main menu. If you are still having issues, please email [email protected] Forgot Password https://benjaminfulford.net/us-and-israel-headed-for-some-sort-of-mega-black-swan-event/ AS dan Israel menuju semacam acara mega black swan Oleh Benjamin Fulford 6 November 2023 Tanda-tandanya berlipat ganda bahwa AS dan Israel sedang menuju semacam acara mega angsa hitam. Hasilnya adalah kedua negara tidak ada lagi dalam format mereka saat ini. Itu karena Federal Reserve Board -sumber kekuatan bagi para Satanis- berada di ambang kehancuran. Jika itu berjalan, maka segala sesuatu di bawahnya, seperti KORPORASI AMERIKA SERIKAT, BIS, Bank Dunia, IMF, PBB dan 90% perusahaan transnasional dunia juga akan runtuh dan berada di bawah manajemen baru. Tanda-tanda keruntuhan FRB bermacam-macam. Seperti yang telah kami catat sebelumnya, tingkat bunga FRB sebesar 5,25% secara matematis telah menghancurkan setidaknya setengah dari semua Bank AS karena telah mendevaluasi semua hal bunga nol atau mendekati nol pada pembukuan mereka. FRB sekarang menggunakan akuntansi palsu untuk menyembunyikan lari bank yang dihasilkan. Hal ini terlihat ketika deposito di sebagian besar bank besar AS (pemilik FRB) "tertunda" oleh FRB Automated Clearing House (ACH), jaringan. Https://edition.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html Ini tampaknya memungkinkan FRB untuk menggunakan "penyesuaian musiman" palsu untuk mengubah arus keluar deposito $33 miliar (bank run) menjadi arus masuk $52 miliar. Trik ini secara ajaib telah meningkatkan simpanan sebesar $168 miliar sejak April. Karena aturan FRB mengizinkan 1000 kali leverage, setoran palsu ini mengembalikan "instrumen keuangan" senilai $168 triliun. Dengan kata lain, seluruh rumah keuangan kartu bertumpu pada dasar penipuan. Https://www.zerohedge.com/markets/fed-fkery-turns-massive-33bn-bank-deposit-outflow-51bn-inflow Bank-bank AS juga sekarang mencuri uang orang secara langsung. Banyak pelanggan bank mendapatkan surat yang mengatakan semua rekening giro dan tabungan mereka ditutup. Penjelasannya, jika ada, adalah sesuatu seperti "Sepak dengan perjanjian akun Anda, kami dapat menutup akun Anda untuk alasan apa pun kapan saja." Https://dnyuz.com/2023/11/05/mengapa-bank-tiba-tiba-menutup-akun-pelanggan/ Ini terjadi di Australia dan negara-negara lain yang dikendalikan KM- juga. KM juga sekarang berusaha mati-matian untuk melarang uang tunai dan memaksa kita masuk ke penjara digital. Sistem komunikasi antar-bank FedNow yang baru "mungkin tidak konstitusional" dan "mengancam kebebasan yang harus disayangi oleh semua warga Amerika yang mencintai kebebasan," kata Editor Majalah Bitcoin Mark Goodwin dalam menanggapi upaya FRB untuk membungkam kritik publikasinya terhadap sistem ini. Https://bitcoinmagazine.com/legal/federal-reserve-threatens-to-sue-bitcoin-magazine Langkah-langkah ini terhubung dengan batas waktu 15 November mendatang bagi pemerintah AS untuk "meningkatkan batas utang." Kami mendengar Cina dan kreditor lain ke AS bertekad untuk tidak membiarkan pertunjukan sirkus "pemerintah" AS berlanjut lebih lama lagi. Masalah keuangan inilah mengapa acara angsa hitam mega tipe politik atau militer- kemungkinan besar. Di masa lalu, FRB telah menanggapi krisis seperti ini dengan peristiwa seperti 911, Fukushima dan yang terbaru adalah upaya genosida global pandemi dan vaksin. Salah satu kemungkinannya adalah semacam holocaust atau pengorbanan massal kepada Setan sedang direncanakan untuk Israel. Kami mendapatkan laporan yang kredibel dari diplomat asing yang berbasis di sana bahwa sebagian besar negara telah dievakuasi ke Ukraina. Ini bertepatan dengan laporan dari Rusia bahwa penghalang jalan telah didirikan di Ukraina dan hanya orang-orang yang dapat membuktikan bahwa mereka adalah orang Yahudi yang diizinkan melewatinya. Sumber Mossad lebih lanjut mengklaim Israel sebagai perusahaan telah kedaluwarsa pada 31 Oktober. Juga, Cina telah menghapus Israel dari petanya. Sebagai tanggapan, Netanyahu telah muncul menunjukkan peta Israel dikurangi jalur Gaza. Hal terakhir yang tersisa untuk dilakukan Israel adalah mengobarkan Perang Besar. “Israel adalah organisasi teroris global. Itulah tepatnya mereka, tetapi lebih baik menyebut mereka sebagai kanker planet Bumi,” kata sumber Mossad. Dalam tanda lain orang Yahudi masih di Israel sedang dipersiapkan untuk Holocaust lain, preman Setan di Israel dengan keras menyerang orang Yahudi asli yang memprotes tindakan genosida pemerintah mereka. Menurut MI6, orang-orang di balik ini adalah Menteri Kejahatan Benyamin Netanyahu dan "sekelompok nasionalis Israel ekstremis yang membunuh berbagai karakter internasional selama bertahun-tahun termasuk hitungan Swedia oleh semua akun sehingga untuk berbicara dan juga mencoba Mr. Winston Churchill tertentu pada hari itu. Mereka menata visi mereka tentang Israel modern di negara-negara fasis Spanyol, Italia, dan Jerman... Serangan gabungan Israel dan Jalur Gaza memang rumah jagal pengorbanan darah dan sekarang genosida. Dibiarkan tidak dicentang, mereka akan meratakan seluruh tempat ke tanah dan semua di dalamnya.” Netanyahu sendiri menyebut musuh Yahudi dan Palestinanya sebagai Amalek: "Tuhan memerintahkan Raja Saul untuk menghancurkan musuh dan seluruh rakyatnya: 'Sekarang pergilah dan kalahkan Amalek dan hancurkan semua yang dia miliki; dan jangan beri dia belas kasihan: tetapi bunuh suami dan istri; dari masa muda hingga bayi; dari sapi hingga domba; dari unta hingga keledai." Kitab Samuel 15:3. Menteri Warisan Amichai Eliyahu setuju mengatakan "Salah satu pilihan Israel dalam perang di Gaza adalah menjatuhkan bom nuklir di jalur tersebut," Https://www.yenisafak.com/en/news/saudi-arabia-mengutuk-israel-penyataan-tentang-menggunakan-senjata-nuklir-pada-gaza-3673010 Dalam tanda mereka tahu sesuatu akan terjadi di sana, Pentagon tidak akan lagi mengizinkan para pemimpin militer seniornya untuk melakukan perjalanan ke Israel dan akan mencegah anggota Kongres melakukan perjalanan. "Israel tidak akan pulih dari kesalahan ini," sumber senior CIA memperingatkan. Dengan kata lain, kecuali tindakan diambil, KM akan melakukan pembunuhan-bunuh diri Israel daripada menerima pembebasan Yahudi dari ribuan tahun kendali Setan. Turki mungkin turun langkah dengan menegaskan kembali kendali atas Israel. "Ini adalah tugas Türkiye untuk menghentikan pertumpahan darah di Gaza," kata Presiden Recep Erdogan pada hari Minggu. "Kami sedang melakukan dan akan terus melakukan lebih dari apa yang terlihat," katanya menyiratkan tentara terbesar NATO mungkin campur tangan. Https://www.yenisafak.com/en/news/stopping-bloodshed-in-gaza-is-turkiyes-duty-president-erdogan-3673004' Ada juga bukti bahwa semacam peristiwa yang benar-benar mengerikan sedang direncanakan untuk Sisa buletin hari Senin hanya tersedia untuk anggota BenjaminFulford.net yang memiliki langganan berbayar. Jika Anda yakin pesan ini ditampilkan karena kesalahan, periksa apakah Anda masuk ke akun Anda. Jika Anda tidak masuk atau perlu membuat akun, silakan lakukan di menu utama. Jika Anda masih mengalami masalah, silakan kirim email ke [email protected] Lupa Kata Sandi
    1 Commenti 0 condivisioni 5318 Views
  • BDS is the most effective way to put our solidarity into action – here’s how to win
    Olivia KatbiNovember 13, 2023
    (Image: Palestinian BDS National Committee)
    (Image: Palestinian BDS National Committee)
    As Israel continues to escalate its ongoing genocide and ethnic cleansing of Palestinians, a new wave of solidarity with Palestine is emerging. Many people are learning for the first time about the Palestinian call to boycott, divest from, and sanction (BDS) Israel until it complies with international law. As a coordinator for the BDS Movement in North America for several years, I have worked on a number of BDS campaigns, and would like to lay out the basics, best practices, and some helpful tips and ideas for BDS campaigning.

    BDS 101

    First, some quick background: The BDS movement was founded by Palestinian civil society in 2005 as a way to exert pressure on Israel to comply with international law until it meets three key demands:

    1. An end to Israel’s occupation of all Arab lands and dismantling the illegal apartheid Wall;

    2. Full equality for Palestinian citizens of Israel; and

    3. The right of return for Palestinian refugees.

    You can learn more about the history of the BDS Movement, the organizations that make up the Palestinian BDS National Committee, and past and current campaigns at the BDS Movement website.

    BDS is the most effective way for us to put our solidarity with Palestinian liberation into action as residents of the United States, which gives Israel an annual $3.8 billion in military funding, shields Israel from international accountability, and has countless corporations and institutions that maintain some level of complicity in Israel’s violence. BDS is inspired by the South African anti-apartheid movement, during which international boycotts and sanctions played a major role in bringing about the eventual fall of apartheid, and the U.S. Civil Rights movement and its inspiring boycotts, including the Rosa Parks-led Montgomery bus boycott.

    A movement for collective action

    Many people are personally boycotting brands that have stated support for Israel, and that’s great – but I want to stress that consumer boycotts are most effective when taken as a collective action, and BDS isn’t just about consumer boycotts. More important than our own personal investments and purchases, which are symbolic gestures but not impactful alone, is working within an organization, union, or coalition to organize effective, strategic campaigns and build power globally to support the Palestinian struggle. So when you see massive lists of dozens and dozens of companies to boycott going around on social media – please keep in mind that the goal isn’t to boycott as many companies as possible, as very few people can feasibly sustain such extensive boycotts. The goal is to strategically pick a few targets and exert enough collective pressure to win a campaign – meaning, a specific company stops doing business with Israel, a specific institution divests its investments from complicit Israeli or international companies, or a specific city ends its relationship with the Israeli government or adopts a human rights procurement and investment policy.

    There are many different kinds of BDS campaigns to choose from, and you can choose the most strategic and achievable targets in your own local context. Consider these examples:

    Municipal boycott: a city ends contracts with HP or Caterpillar.

    Academic boycott: a university (or department) or academic association ends institutional collaboration with Israeli academic institutions.

    Sports boycott: US teams refuse to play against official Israeli teams, or Israel gets suspended from the Fédération Internationale de Football Association (FIFA).

    Consumer boycott: a co-op grocery store stops selling Sabra hummus.

    Cultural boycott: a celebrity cancels a performance in Israel, or a US event by Israeli cultural ambassadors or sponsored by Israel (or anti-Palestinian lobby groups) is canceled.

    Divestment: A city, university, church, trade union, or pension fund withdraws its investments in corporations and banks complicit in Israeli apartheid.

    As the BDS movement continues to grow at a fast pace, many activists around the world, including in Palestine, often wonder what institution or corporation to most effectively target and how. Given our limited human capacity, we want to be strategic with the targets we select. The BDS movement does not actually launch a boycott campaign against every boycottable event, product or institution, because that would make it pretty impossible to achieve concrete results. To be strategic, we carefully select our targets and how we intervene in each case. To read about current BDS targets and strategic campaigning, including why some targets are “pressure” targets instead of full-on boycott targets, please take a look at this recent statement from the BDS Movement.

    When selecting a BDS target we generally recommend considering the following four criteria:


    1. The level of complicity involved: The deeper the complicity, the easier it is to mobilize support for BDS action against any given target. There are hundreds of international companies and banks that are in some way complicit. Rather than targeting any international athletic footwear company that sells athletic shoes and apparel in Israel, for example, we recommend joining the campaign against PUMA, which sponsors the Israel Football Association. The IFA governs teams in Israel’s illegal settlements on occupied Palestinian land.

    2. The potential for forming a broad, cross-movement coalition against the target: A divestment campaign targeting Chevron, for example, makes much more sense than a divestment campaign targeting a company that only infringes on Palestinian rights, because Chevron is a target of climate activists worldwide. Intersectional coalitions are especially crucial to maximize the potential of winning against large, nasty complicit corporations.

    3. Media appeal: If two companies are equally complicit, and we must choose, it is more effective to go after the more publicly recognized brand, as that usually attracts more media attention and allows us to educate and reach out to a much larger audience.

    4. Possibility of success: Even if the above three conditions are met, we don’t launch a campaign against a target unless we have a reasonable chance of success. And success can sometimes just mean reaching a wide mainstream audience and winning their support, rather than actually succeeding in canceling an event, or canceling a contract, but symbolic victories alone are not sufficient. We do BDS because we want to win, build power to affect policy change, and to achieve Palestinian rights ultimately, and not to merely score points and feel good about symbolic gestures. Only through sustained, cumulative, growing and mainstreaming successes can BDS achieve its objectives— which are freedom, justice and equality.

    Campaigning to win

    Once you and your group or organization (because you absolutely should not be doing this alone!) have carefully researched and chosen a target that makes strategic sense for your local context, don’t just jump out with a public campaign right away. Starting with a soft ask (due diligence) is an often overlooked step that can sometimes deliver us a win right away – and the goal is winning! For example, meeting with your union’s investment committee to see if they are willing to implement a human rights investment screening policy; privately writing a letter to your school’s procurement manager to see if there is another supplier of computers they could go with rather than HP; or getting grocery store workers to collectively request that the store no longer shelve an Israeli product. You might be surprised by how far good faith engagement, based on sharing accurate information and compelling moral appeals, can in some cases take you, particularly in smaller communities, before escalating to a larger public pressure campaign.

    In most cases, however, strategic pressure is the only effective way. For example, when we ran a campaign in Portland asking the Portland Trail Blazers to end their sponsorship with IDF sniper scope supplier Leupold and Stevens, we first sent private letters to the Blazers organization explaining our concerns and requesting a meeting to talk further about the partnership. This tactic did not work, and we then escalated to a public, year-long pressure campaign, which we won! But we had to make sure to do our due diligence first, as that in itself shows good faith and win over many bystanders.

    You should also begin reaching out to other organizations for endorsement and support. Coalition building is a must in most BDS work. Organizations in your area might be interested in campaigning together on the issue, and organizations in the U.S. can offer support for your campaign. For example, the American Friends Service Committee (AFSC) has talented researchers with years of BDS campaigning under their belts and a great database which can help you find reliable information on companies and investment funds. Palestine Legal can help you ensure that your campaign is as legally sound as possible and may be able to help you face legal challenges that you may run into regardless. IMEU can provide resources on connecting with the media and tips on how best to integrate communications into your campaign strategy, not as an afterthought.

    Power mapping is an important part of your campaign as well – who are the decision makers, who is best placed to pressure them, and how can we most effectively do so? Do you have any allies on the inside? What kind of opposition do you think you’ll be up against, and how can you prepare for that ahead of time? Other important parts of campaigning include creating a media strategy, a public education strategy (for example, hosting informational events like teach-ins), a timeline for escalation of your campaign, and picking strategic dates for certain actions – such as delivering a petition during a board meeting of the company you’re targeting. Is peacefully disruptive direct action (sit-in, peaceful occupation, flashmob, collective supermarket action, etc.) a useful tactic to consider, at the right time, in your strategy?

    Historically, some of the biggest and most successful BDS campaigns have taken years of strategic planning, organizing, and network building to pull off – so don’t be discouraged if it doesn’t happen for you right away. It’s worth it to be intentional in your planning and outreach. But at this unprecedented time of crisis with genocide unfolding before our eyes, there’s also no reason why a BDS campaign needs to take years. There is great urgency in the work we’re doing right now, and there’s no reason why a city council or your union leadership can’t make a decision to end its complicity right now if the political will exists. If not now, when?

    The South African anti-apartheid movement organized for decades to gain broad international support leading up to the fall of apartheid; and apartheid did fall. Freedom is inevitable. The time is now to take action to join the movement for freedom, justice, and equality in Palestine.

    Before you go – we need your support

    At Mondoweiss, we understand the power of telling Palestinian stories. For 17 years, we have pushed back when the mainstream media published lies or echoed politicians’ hateful rhetoric. Now, Palestinian voices are more important than ever.

    Our traffic has increased ten times since October 7, and we need your help to cover our increased expenses.

    Support our journalists with a donation today.


    https://mondoweiss.net/2023/11/bds-is-the-most-effective-way-to-put-our-solidarity-into-action-heres-how-to-win/
    BDS is the most effective way to put our solidarity into action – here’s how to win Olivia KatbiNovember 13, 2023 (Image: Palestinian BDS National Committee) (Image: Palestinian BDS National Committee) As Israel continues to escalate its ongoing genocide and ethnic cleansing of Palestinians, a new wave of solidarity with Palestine is emerging. Many people are learning for the first time about the Palestinian call to boycott, divest from, and sanction (BDS) Israel until it complies with international law. As a coordinator for the BDS Movement in North America for several years, I have worked on a number of BDS campaigns, and would like to lay out the basics, best practices, and some helpful tips and ideas for BDS campaigning. BDS 101 First, some quick background: The BDS movement was founded by Palestinian civil society in 2005 as a way to exert pressure on Israel to comply with international law until it meets three key demands: 1. An end to Israel’s occupation of all Arab lands and dismantling the illegal apartheid Wall; 2. Full equality for Palestinian citizens of Israel; and 3. The right of return for Palestinian refugees. You can learn more about the history of the BDS Movement, the organizations that make up the Palestinian BDS National Committee, and past and current campaigns at the BDS Movement website. BDS is the most effective way for us to put our solidarity with Palestinian liberation into action as residents of the United States, which gives Israel an annual $3.8 billion in military funding, shields Israel from international accountability, and has countless corporations and institutions that maintain some level of complicity in Israel’s violence. BDS is inspired by the South African anti-apartheid movement, during which international boycotts and sanctions played a major role in bringing about the eventual fall of apartheid, and the U.S. Civil Rights movement and its inspiring boycotts, including the Rosa Parks-led Montgomery bus boycott. A movement for collective action Many people are personally boycotting brands that have stated support for Israel, and that’s great – but I want to stress that consumer boycotts are most effective when taken as a collective action, and BDS isn’t just about consumer boycotts. More important than our own personal investments and purchases, which are symbolic gestures but not impactful alone, is working within an organization, union, or coalition to organize effective, strategic campaigns and build power globally to support the Palestinian struggle. So when you see massive lists of dozens and dozens of companies to boycott going around on social media – please keep in mind that the goal isn’t to boycott as many companies as possible, as very few people can feasibly sustain such extensive boycotts. The goal is to strategically pick a few targets and exert enough collective pressure to win a campaign – meaning, a specific company stops doing business with Israel, a specific institution divests its investments from complicit Israeli or international companies, or a specific city ends its relationship with the Israeli government or adopts a human rights procurement and investment policy. There are many different kinds of BDS campaigns to choose from, and you can choose the most strategic and achievable targets in your own local context. Consider these examples: Municipal boycott: a city ends contracts with HP or Caterpillar. Academic boycott: a university (or department) or academic association ends institutional collaboration with Israeli academic institutions. Sports boycott: US teams refuse to play against official Israeli teams, or Israel gets suspended from the Fédération Internationale de Football Association (FIFA). Consumer boycott: a co-op grocery store stops selling Sabra hummus. Cultural boycott: a celebrity cancels a performance in Israel, or a US event by Israeli cultural ambassadors or sponsored by Israel (or anti-Palestinian lobby groups) is canceled. Divestment: A city, university, church, trade union, or pension fund withdraws its investments in corporations and banks complicit in Israeli apartheid. As the BDS movement continues to grow at a fast pace, many activists around the world, including in Palestine, often wonder what institution or corporation to most effectively target and how. Given our limited human capacity, we want to be strategic with the targets we select. The BDS movement does not actually launch a boycott campaign against every boycottable event, product or institution, because that would make it pretty impossible to achieve concrete results. To be strategic, we carefully select our targets and how we intervene in each case. To read about current BDS targets and strategic campaigning, including why some targets are “pressure” targets instead of full-on boycott targets, please take a look at this recent statement from the BDS Movement. When selecting a BDS target we generally recommend considering the following four criteria:
 1. The level of complicity involved: The deeper the complicity, the easier it is to mobilize support for BDS action against any given target. There are hundreds of international companies and banks that are in some way complicit. Rather than targeting any international athletic footwear company that sells athletic shoes and apparel in Israel, for example, we recommend joining the campaign against PUMA, which sponsors the Israel Football Association. The IFA governs teams in Israel’s illegal settlements on occupied Palestinian land. 2. The potential for forming a broad, cross-movement coalition against the target: A divestment campaign targeting Chevron, for example, makes much more sense than a divestment campaign targeting a company that only infringes on Palestinian rights, because Chevron is a target of climate activists worldwide. Intersectional coalitions are especially crucial to maximize the potential of winning against large, nasty complicit corporations. 3. Media appeal: If two companies are equally complicit, and we must choose, it is more effective to go after the more publicly recognized brand, as that usually attracts more media attention and allows us to educate and reach out to a much larger audience. 4. Possibility of success: Even if the above three conditions are met, we don’t launch a campaign against a target unless we have a reasonable chance of success. And success can sometimes just mean reaching a wide mainstream audience and winning their support, rather than actually succeeding in canceling an event, or canceling a contract, but symbolic victories alone are not sufficient. We do BDS because we want to win, build power to affect policy change, and to achieve Palestinian rights ultimately, and not to merely score points and feel good about symbolic gestures. Only through sustained, cumulative, growing and mainstreaming successes can BDS achieve its objectives— which are freedom, justice and equality. Campaigning to win Once you and your group or organization (because you absolutely should not be doing this alone!) have carefully researched and chosen a target that makes strategic sense for your local context, don’t just jump out with a public campaign right away. Starting with a soft ask (due diligence) is an often overlooked step that can sometimes deliver us a win right away – and the goal is winning! For example, meeting with your union’s investment committee to see if they are willing to implement a human rights investment screening policy; privately writing a letter to your school’s procurement manager to see if there is another supplier of computers they could go with rather than HP; or getting grocery store workers to collectively request that the store no longer shelve an Israeli product. You might be surprised by how far good faith engagement, based on sharing accurate information and compelling moral appeals, can in some cases take you, particularly in smaller communities, before escalating to a larger public pressure campaign. In most cases, however, strategic pressure is the only effective way. For example, when we ran a campaign in Portland asking the Portland Trail Blazers to end their sponsorship with IDF sniper scope supplier Leupold and Stevens, we first sent private letters to the Blazers organization explaining our concerns and requesting a meeting to talk further about the partnership. This tactic did not work, and we then escalated to a public, year-long pressure campaign, which we won! But we had to make sure to do our due diligence first, as that in itself shows good faith and win over many bystanders. You should also begin reaching out to other organizations for endorsement and support. Coalition building is a must in most BDS work. Organizations in your area might be interested in campaigning together on the issue, and organizations in the U.S. can offer support for your campaign. For example, the American Friends Service Committee (AFSC) has talented researchers with years of BDS campaigning under their belts and a great database which can help you find reliable information on companies and investment funds. Palestine Legal can help you ensure that your campaign is as legally sound as possible and may be able to help you face legal challenges that you may run into regardless. IMEU can provide resources on connecting with the media and tips on how best to integrate communications into your campaign strategy, not as an afterthought. Power mapping is an important part of your campaign as well – who are the decision makers, who is best placed to pressure them, and how can we most effectively do so? Do you have any allies on the inside? What kind of opposition do you think you’ll be up against, and how can you prepare for that ahead of time? Other important parts of campaigning include creating a media strategy, a public education strategy (for example, hosting informational events like teach-ins), a timeline for escalation of your campaign, and picking strategic dates for certain actions – such as delivering a petition during a board meeting of the company you’re targeting. Is peacefully disruptive direct action (sit-in, peaceful occupation, flashmob, collective supermarket action, etc.) a useful tactic to consider, at the right time, in your strategy? Historically, some of the biggest and most successful BDS campaigns have taken years of strategic planning, organizing, and network building to pull off – so don’t be discouraged if it doesn’t happen for you right away. It’s worth it to be intentional in your planning and outreach. But at this unprecedented time of crisis with genocide unfolding before our eyes, there’s also no reason why a BDS campaign needs to take years. There is great urgency in the work we’re doing right now, and there’s no reason why a city council or your union leadership can’t make a decision to end its complicity right now if the political will exists. If not now, when? The South African anti-apartheid movement organized for decades to gain broad international support leading up to the fall of apartheid; and apartheid did fall. Freedom is inevitable. The time is now to take action to join the movement for freedom, justice, and equality in Palestine. Before you go – we need your support At Mondoweiss, we understand the power of telling Palestinian stories. For 17 years, we have pushed back when the mainstream media published lies or echoed politicians’ hateful rhetoric. Now, Palestinian voices are more important than ever. Our traffic has increased ten times since October 7, and we need your help to cover our increased expenses. Support our journalists with a donation today. https://mondoweiss.net/2023/11/bds-is-the-most-effective-way-to-put-our-solidarity-into-action-heres-how-to-win/
    MONDOWEISS.NET
    BDS is the most effective way to put our solidarity into action – here’s how to win
    As Israel escalates its genocide in Gaza, a new wave of solidarity with Palestine is emerging. The movement to boycott, divest from, and sanction Israel is the best way to put our solidarity into action. Here is how to make your BDS campaign a success.
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  • Genocide 101: How US/Israeli Axis of Evil Funds Ethnic Cleansing in Palestine
    Meet the American Zombies Being Fleeced for The Terrorist Colony of Israel

    Johnny PunishNovember 11, 2023

    VT Condemns the ETHNIC CLEANSING OF PALESTINIANS by USA/Israel

    $ 280 BILLION US TAXPAYER DOLLARS INVESTED since 1948 in US/Israeli Ethnic Cleansing and Occupation Operation; $ 150B direct "aid" and $ 130B in "Offense" contracts
    Source: Embassy of Israel, Washington, D.C. and US Department of State.

    Remember when USA used to be Super Heroes? Now, look at them. It’s beyond grotesque!

    by Johnny Punish

    Most of you know about the public funding of the genocide taking place to expand the US/Euro Colony of Israel. But for those who don’t, in summary, each year the US Congress sends the tiny nation of 9 million people billions of US Taxpayer dollars in the form of aid; since 1948, its’ been $ 280 Billion. This is primarily secured by the bribery of US Congress by foreign agents posting as legit lobbies with the leader being AIPAC; American Israel Public Affairs Committee.

    To give you context, I have a fine Jewish friend who just said to me;

    “I attended an AIPAC event many years ago and vowed never to go again as I didn’t care for their radicalism and obstinance. But you may want to look at the Evangelical Christian community as the ones who have consistently exerted the most pressure on American politicians regarding Israel. They take the “end times” very seriously and are no fans of the Palestinian cause. Their organizations and lobbyists far exceed AIPAC in influence not only regarding Israel but more domestic issues as well.”



    And he is spot on!

    This phony Christian cabal is now the most dangerous enemy of freedom around the world. They are putting the lives of Israelis and Palestinians on the line with their crazy extremist ideologies. Calling them the Taliban is selling them short.


    2023: In 30 days of US/Israeli Massacre of Gaza, they murdered over 11,000 human beings including over 5000 children and injured over 25,000 people while displacing over 1,000,000 human beings from their homes; a war crime of the century that is being cover by the UN which is held hostage by the US/Israeli Empire
    This dangerous American Christian Evangelical Zionist Operation or Nationalists, a group whose leaders open lie and indoctrinate their flock into believing complete non-sense about the end of days and why they should support Israel 100% without question no matter what is literally destroying the very fabric of the USA, and putting the lives of everyday Israeli’s and Palestinians on the line; killing them with their grotesque funding of Occupation and Ethnic Cleansing.

    It’s the most incredible Zombie indoctrination of a mass of people since NAZI Josef Goebbels did it about 90 years ago.


    Paul Joseph Goebbels was a German Nazi politician who was the Gauleiter of Berlin, chief propagandist for the Nazi Party, and then Reich Minister of Propaganda from 1933 to 1945.
    They’ve turned the average down-home “folk” into Zombies for Israel. It’s truly incredible and scary for real.

    In fact, this one is much more impressive than the Nazis because it’s now gone public and America has normalized its insanity to the point where most don’t even question its complete fabrication. The elites wield this mind control without mercy fleecing their zombies at will while they sheepishly nod “Oh Israel, oh Israel”. It’s grotesque!

    Since its founding in 1948, the United States has provided Israel with over $125 billion in bilateral assistance focused on addressing new and complex security threats, bridging Israel’s capability gaps through security assistance and cooperation, increasing interoperability through joint exercises, and helping Israel …

    Source: International Trade Administration

    Oh, I forgot to mention that the US Congress delivers “offense” contracts, or what they like to call “defense” contracts that amount to billions more per year which props up its economy and continues to turn the US/Euro Colony Terror State into a serious global force for evil against its indigenous populations serving to destabilize Middle Eastern unity to ensure control of the regions’ resources securing it’s dominate empire worldwide. So there’s that…

    But what world power you ask?

    Well, it’s an elite transactional confederation of psychotic predators whose ambition is to maintain control of the world and its resources by any means necessary. Some call it “The West”, and some call it “The Zionists”. It’s actually both and more.

    This cabal is made of up Jews, Christians, Muslims, and Pagans. But mostly none of them are actually religious. They just play religious figures for public consumption.

    For example…

    Let’s take the lovely Saudi Royal Family who are in charge of the holiest sites in Islam. They are famous for being the leaders of the Wahabi sect of Islam. But in reality, underneath those $ 50,000 golden-laced robes are old greedy men in Machiavellian suits whose only loyalty is oil and their place at the Zionist table. They are degenerates like the rest of them. But for their public face, they act as if they are holy men. It’s just an act. And as long as their public buys it, then they can stay in power without any hiccups. So they play the game.


    The Religion of Oil and Power NOT Islam are these phony baloneys trade du jour
    But What About US Presidents? Don’t They Have a Say?

    The short answer is NO! They don’t! They are figureheads.

    They are NOT the leaders in this elite group. They are mere hostages, stooges for the major elite powers to push around at will. This is why Netanyahu meets with all of them and he’s treated like a KING. They all hate him and yet they bow to him.

    Each year, people point at US Presidents as if they have a say in the matter. They complain he’s this and that when, in reality, they are puppets in a humongous global game of chess.

    These figureheads are threatened with political failure and even their lives if they don’t comply.

    We are dealing with a very dangerous cabal folks. They are NOT choir boys but real-life gangsters with massive power backing them up and I’m not talking about Joe Pesci’s Nicky Santoro, I’m talking about the best military arms in the world and hitmen that would make James Bond shiver!


    Nicky Santoro, played by actor Joe Pesci, was a “made man” in the Mafia that ruled the streets of Las Vegas in the 1995 movie “Casino“. He was a nasty piece of meat with two eyes killing everything that walked; a psychopath in a cheap suit!
    But we’re talking funding right?

    So let’s see what else the US “unbreakable relationship” with its’ 51st state gets from the US Taxpayer. Oh wait, there’s direct financing; bonds, lots of bonds…

    In fact, it is so disgraceful that it will make you sick to your stomach. Yep, over $ 1 Billion in Israeli Bonds have been sold and purchased in the U.S. since Oct 7th — much of it with Taxpayers’ money.

    US States, cities, and small investors are behind the spike in sales. “Our security and economy will come out stronger,” said Israel Bond CEO Dan Naveh

    The Development Corporation for Israel has raised $1 billion from bond sales in the United States since the Oct. 7 attack by Hamas that killed at least 1,400 Israelis and took another 240 as hostages.


    Dan Naveh served as a member of the Knesset for Likud between 1999 and 2007 and as a government minister from 2001 until 2006. He is the founder and the managing general partner of Agate Medical Investments, served for seven years as the chairman of Clal Insurance, and is currently president and CEO of Israel Bonds.
    The Ministry of Finance issued new bonds in the days immediately following the attack selling them as if they were liberating Europe from the Nazis. And Americans are eating them up!

    The $1 billion raised in the last four weeks is the largest amount of Israeli Bonds ever purchased in a short period, according to the Development Corporation, the agency behind Israel Bond sales. It also makes 2023 a record year for Israel Bonds.

    According to a statement from the organization, most of the money came from 15 state and municipal bond funds, as well as a few banks. The main buyers were state governments in Florida, New York, Alabama, Arizona, Ohio, Illinois, Texas, Georgia, Oklahoma, Nevada, Louisiana, South Carolina, Indiana and Pennsylvania.

    Two counties in Florida, Broward and Palm Beach, also bought Israel Bonds in the last four weeks, as did Ohio’s Franklin County.

    Two banks made notable buys, New Jersey-based Cross River Bank and Cleveland-based Key Bank, which made a $15 million dollar bond purchase. A spokesperson for the bank called the sales part of “a more than 35-year relationship with Israel Bonds.”

    Executives at Israel Bonds said about $250 million of the total raised in the last month came from individual investors, large and small, throughout the United States, who purchased the bonds directly.


    American Zombies for Israel are being fleeced like never before and are ready to die for a cabal of elites who laugh in front of their zombie faces
    And so there you have it! The US/Israeli Axis of Evil is proudly financing Genocide and Ethnic Cleansing like never before.

    It’s committing war crimes in public view with support from its propaganda media with impunity. Worse, it is protected by a UN created when the USA once stood for something of principle giving it power to keep the world in balance.

    But now, it uses that power to ensure that no other country can stand up to them when they are the ones openly and publicly committing crimes that have NOT been seen since the days of Adolf Hitler and Josef Stalin.


    Johnny Punish (During the COVID ERA 2021) at the Strasbourg Cathedral or the Cathedral of Our Lady of Strasbourg (French: Cathédrale Notre-Dame de Strasbourg, or Cathédrale de Strasbourg, German: Liebfrauenmünster zu Straßburg or Straßburger Münster), also known as Strasbourg Minster, is a Catholic cathedral in Strasbourg, Alsace, France.
    Postscript: I was in Strasbourg France in 2021. In the local main church, there hangs a plaque saying “In Memory of The American Officers, Non-Commissioned Officers, and Soldiers Who Gave Their Life to Free Alsace”.

    I was so proud of that plague because that’s when America did something good.

    Yeah, I know, it was never perfect but at least it stood for pushing back the wild expansionism of the Nazis and helped the occupied people of France get back their dignity and freedom. It was good. And it launched a better world moving forward.

    But now, who is this version of America?

    Remember when the USA used to be the Super Heroes? Now, look at them. It’s beyond grotesque!

    Johnny Punish founded VT in 2004. After 20 years at the helm, he “retired” from the daily operations in late 2023 passing the ball over to the new owner of VT, Chief Justin Time. He now writes for VT as “Writer Emeritus”. He is also a global citizen eco-activist, visionary, musician, artist, entertainer, businessman, investor, life coach, podcast host, and syndicated columnist.

    Punish is an ethnically cleansed Palestinian-American whose maternal family was evicted from their home in Haifa, Palestine in 1948 by Irgun; a Euro-Zionist Settler Terrorist Group. The family became part of the over 1,000,000 Palestinians who are Al-Nakba refugees (The Catastrophe). The family fled to Beirut Lebanon for 13 years eventually emigrating to the USA in 1961 via a Brasilian passport obtained by his Palestinian Brasilian-born grandmother (In the early 1900s, the family was sent to Sao Paolo Brasil as guest workers in the mining industry. Punish’s father is Italian-American from New York City. Punish’s paternal great-grandparents emigrated to the USA from Naples Italy and Marineo in Sicily in the 1890s. Punish was born in the Bronx, New York in 1963.

    Punish was educated at the University of Nevada Las Vegas (1980-81) and California State University Fullerton (1981-1984) with studies in accounting and business. Before the “internets” had been invented, he owned and ran (5) national newspapers in the United States of America from 1987-1998. From 2004 to 2023, he owned and managed VT Foreign Policy retiring at the end of 2023.

    Punish is also a recording artist. He has over 100 original songs written. He records and produces music. A member of ASCAP, Punish has several songs placed in feature films. His music is promoted worldwide and played on all digital networks and net radio.

    He is also the founder and owner of Global Thinkers, a freedom media that helps free thinkers create real wealth.

    Resources: Facebook – YouTube – Apple Music – SoundCloud – Spotify – X (Twitter)

    Read Johnny’s Full Bio at JohnnyPunish.com >>>

    www.johnnypunish.com


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    https://www.vtforeignpolicy.com/2023/11/genocide-101-how-us-israeli-axis-of-evil-funds-ethnic-cleansing-in-palestine/
    Genocide 101: How US/Israeli Axis of Evil Funds Ethnic Cleansing in Palestine Meet the American Zombies Being Fleeced for The Terrorist Colony of Israel Johnny PunishNovember 11, 2023 VT Condemns the ETHNIC CLEANSING OF PALESTINIANS by USA/Israel $ 280 BILLION US TAXPAYER DOLLARS INVESTED since 1948 in US/Israeli Ethnic Cleansing and Occupation Operation; $ 150B direct "aid" and $ 130B in "Offense" contracts Source: Embassy of Israel, Washington, D.C. and US Department of State. Remember when USA used to be Super Heroes? Now, look at them. It’s beyond grotesque! by Johnny Punish Most of you know about the public funding of the genocide taking place to expand the US/Euro Colony of Israel. But for those who don’t, in summary, each year the US Congress sends the tiny nation of 9 million people billions of US Taxpayer dollars in the form of aid; since 1948, its’ been $ 280 Billion. This is primarily secured by the bribery of US Congress by foreign agents posting as legit lobbies with the leader being AIPAC; American Israel Public Affairs Committee. To give you context, I have a fine Jewish friend who just said to me; “I attended an AIPAC event many years ago and vowed never to go again as I didn’t care for their radicalism and obstinance. But you may want to look at the Evangelical Christian community as the ones who have consistently exerted the most pressure on American politicians regarding Israel. They take the “end times” very seriously and are no fans of the Palestinian cause. Their organizations and lobbyists far exceed AIPAC in influence not only regarding Israel but more domestic issues as well.” And he is spot on! This phony Christian cabal is now the most dangerous enemy of freedom around the world. They are putting the lives of Israelis and Palestinians on the line with their crazy extremist ideologies. Calling them the Taliban is selling them short. 2023: In 30 days of US/Israeli Massacre of Gaza, they murdered over 11,000 human beings including over 5000 children and injured over 25,000 people while displacing over 1,000,000 human beings from their homes; a war crime of the century that is being cover by the UN which is held hostage by the US/Israeli Empire This dangerous American Christian Evangelical Zionist Operation or Nationalists, a group whose leaders open lie and indoctrinate their flock into believing complete non-sense about the end of days and why they should support Israel 100% without question no matter what is literally destroying the very fabric of the USA, and putting the lives of everyday Israeli’s and Palestinians on the line; killing them with their grotesque funding of Occupation and Ethnic Cleansing. It’s the most incredible Zombie indoctrination of a mass of people since NAZI Josef Goebbels did it about 90 years ago. Paul Joseph Goebbels was a German Nazi politician who was the Gauleiter of Berlin, chief propagandist for the Nazi Party, and then Reich Minister of Propaganda from 1933 to 1945. They’ve turned the average down-home “folk” into Zombies for Israel. It’s truly incredible and scary for real. In fact, this one is much more impressive than the Nazis because it’s now gone public and America has normalized its insanity to the point where most don’t even question its complete fabrication. The elites wield this mind control without mercy fleecing their zombies at will while they sheepishly nod “Oh Israel, oh Israel”. It’s grotesque! Since its founding in 1948, the United States has provided Israel with over $125 billion in bilateral assistance focused on addressing new and complex security threats, bridging Israel’s capability gaps through security assistance and cooperation, increasing interoperability through joint exercises, and helping Israel … Source: International Trade Administration Oh, I forgot to mention that the US Congress delivers “offense” contracts, or what they like to call “defense” contracts that amount to billions more per year which props up its economy and continues to turn the US/Euro Colony Terror State into a serious global force for evil against its indigenous populations serving to destabilize Middle Eastern unity to ensure control of the regions’ resources securing it’s dominate empire worldwide. So there’s that… But what world power you ask? Well, it’s an elite transactional confederation of psychotic predators whose ambition is to maintain control of the world and its resources by any means necessary. Some call it “The West”, and some call it “The Zionists”. It’s actually both and more. This cabal is made of up Jews, Christians, Muslims, and Pagans. But mostly none of them are actually religious. They just play religious figures for public consumption. For example… Let’s take the lovely Saudi Royal Family who are in charge of the holiest sites in Islam. They are famous for being the leaders of the Wahabi sect of Islam. But in reality, underneath those $ 50,000 golden-laced robes are old greedy men in Machiavellian suits whose only loyalty is oil and their place at the Zionist table. They are degenerates like the rest of them. But for their public face, they act as if they are holy men. It’s just an act. And as long as their public buys it, then they can stay in power without any hiccups. So they play the game. The Religion of Oil and Power NOT Islam are these phony baloneys trade du jour But What About US Presidents? Don’t They Have a Say? The short answer is NO! They don’t! They are figureheads. They are NOT the leaders in this elite group. They are mere hostages, stooges for the major elite powers to push around at will. This is why Netanyahu meets with all of them and he’s treated like a KING. They all hate him and yet they bow to him. Each year, people point at US Presidents as if they have a say in the matter. They complain he’s this and that when, in reality, they are puppets in a humongous global game of chess. These figureheads are threatened with political failure and even their lives if they don’t comply. We are dealing with a very dangerous cabal folks. They are NOT choir boys but real-life gangsters with massive power backing them up and I’m not talking about Joe Pesci’s Nicky Santoro, I’m talking about the best military arms in the world and hitmen that would make James Bond shiver! Nicky Santoro, played by actor Joe Pesci, was a “made man” in the Mafia that ruled the streets of Las Vegas in the 1995 movie “Casino“. He was a nasty piece of meat with two eyes killing everything that walked; a psychopath in a cheap suit! But we’re talking funding right? So let’s see what else the US “unbreakable relationship” with its’ 51st state gets from the US Taxpayer. Oh wait, there’s direct financing; bonds, lots of bonds… In fact, it is so disgraceful that it will make you sick to your stomach. Yep, over $ 1 Billion in Israeli Bonds have been sold and purchased in the U.S. since Oct 7th — much of it with Taxpayers’ money. US States, cities, and small investors are behind the spike in sales. “Our security and economy will come out stronger,” said Israel Bond CEO Dan Naveh The Development Corporation for Israel has raised $1 billion from bond sales in the United States since the Oct. 7 attack by Hamas that killed at least 1,400 Israelis and took another 240 as hostages. Dan Naveh served as a member of the Knesset for Likud between 1999 and 2007 and as a government minister from 2001 until 2006. He is the founder and the managing general partner of Agate Medical Investments, served for seven years as the chairman of Clal Insurance, and is currently president and CEO of Israel Bonds. The Ministry of Finance issued new bonds in the days immediately following the attack selling them as if they were liberating Europe from the Nazis. And Americans are eating them up! The $1 billion raised in the last four weeks is the largest amount of Israeli Bonds ever purchased in a short period, according to the Development Corporation, the agency behind Israel Bond sales. It also makes 2023 a record year for Israel Bonds. According to a statement from the organization, most of the money came from 15 state and municipal bond funds, as well as a few banks. The main buyers were state governments in Florida, New York, Alabama, Arizona, Ohio, Illinois, Texas, Georgia, Oklahoma, Nevada, Louisiana, South Carolina, Indiana and Pennsylvania. Two counties in Florida, Broward and Palm Beach, also bought Israel Bonds in the last four weeks, as did Ohio’s Franklin County. Two banks made notable buys, New Jersey-based Cross River Bank and Cleveland-based Key Bank, which made a $15 million dollar bond purchase. A spokesperson for the bank called the sales part of “a more than 35-year relationship with Israel Bonds.” Executives at Israel Bonds said about $250 million of the total raised in the last month came from individual investors, large and small, throughout the United States, who purchased the bonds directly. American Zombies for Israel are being fleeced like never before and are ready to die for a cabal of elites who laugh in front of their zombie faces And so there you have it! The US/Israeli Axis of Evil is proudly financing Genocide and Ethnic Cleansing like never before. It’s committing war crimes in public view with support from its propaganda media with impunity. Worse, it is protected by a UN created when the USA once stood for something of principle giving it power to keep the world in balance. But now, it uses that power to ensure that no other country can stand up to them when they are the ones openly and publicly committing crimes that have NOT been seen since the days of Adolf Hitler and Josef Stalin. Johnny Punish (During the COVID ERA 2021) at the Strasbourg Cathedral or the Cathedral of Our Lady of Strasbourg (French: Cathédrale Notre-Dame de Strasbourg, or Cathédrale de Strasbourg, German: Liebfrauenmünster zu Straßburg or Straßburger Münster), also known as Strasbourg Minster, is a Catholic cathedral in Strasbourg, Alsace, France. Postscript: I was in Strasbourg France in 2021. In the local main church, there hangs a plaque saying “In Memory of The American Officers, Non-Commissioned Officers, and Soldiers Who Gave Their Life to Free Alsace”. I was so proud of that plague because that’s when America did something good. Yeah, I know, it was never perfect but at least it stood for pushing back the wild expansionism of the Nazis and helped the occupied people of France get back their dignity and freedom. It was good. And it launched a better world moving forward. But now, who is this version of America? Remember when the USA used to be the Super Heroes? Now, look at them. It’s beyond grotesque! Johnny Punish founded VT in 2004. After 20 years at the helm, he “retired” from the daily operations in late 2023 passing the ball over to the new owner of VT, Chief Justin Time. He now writes for VT as “Writer Emeritus”. He is also a global citizen eco-activist, visionary, musician, artist, entertainer, businessman, investor, life coach, podcast host, and syndicated columnist. Punish is an ethnically cleansed Palestinian-American whose maternal family was evicted from their home in Haifa, Palestine in 1948 by Irgun; a Euro-Zionist Settler Terrorist Group. The family became part of the over 1,000,000 Palestinians who are Al-Nakba refugees (The Catastrophe). The family fled to Beirut Lebanon for 13 years eventually emigrating to the USA in 1961 via a Brasilian passport obtained by his Palestinian Brasilian-born grandmother (In the early 1900s, the family was sent to Sao Paolo Brasil as guest workers in the mining industry. Punish’s father is Italian-American from New York City. Punish’s paternal great-grandparents emigrated to the USA from Naples Italy and Marineo in Sicily in the 1890s. Punish was born in the Bronx, New York in 1963. Punish was educated at the University of Nevada Las Vegas (1980-81) and California State University Fullerton (1981-1984) with studies in accounting and business. Before the “internets” had been invented, he owned and ran (5) national newspapers in the United States of America from 1987-1998. From 2004 to 2023, he owned and managed VT Foreign Policy retiring at the end of 2023. Punish is also a recording artist. He has over 100 original songs written. He records and produces music. A member of ASCAP, Punish has several songs placed in feature films. His music is promoted worldwide and played on all digital networks and net radio. He is also the founder and owner of Global Thinkers, a freedom media that helps free thinkers create real wealth. Resources: Facebook – YouTube – Apple Music – SoundCloud – Spotify – X (Twitter) Read Johnny’s Full Bio at JohnnyPunish.com >>> www.johnnypunish.com ATTENTION READERS We See The World From All Sides and Want YOU To Be Fully Informed In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion. About VT - Policies & Disclosures - Comment Policy Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT. https://www.vtforeignpolicy.com/2023/11/genocide-101-how-us-israeli-axis-of-evil-funds-ethnic-cleansing-in-palestine/
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    Genocide 101: How US/Israeli Axis of Evil Funds Ethnic Cleansing in Palestine
    Meet the American Zombies Being Fleeced for The Terrorist Colony of Israel
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  • University of Georgia researchers say approximately one in eight military families with at least one child has relied on food banks, pantries, or other charitable food resources in the past year.
    University of Georgia researchers say approximately one in eight military families with at least one child has relied on food banks, pantries, or other charitable food resources in the past year.
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    1 in 8 Military Families Dealing with Food Insecurity, Study Reveals - Activist Post
    A disturbing new study reveals the scope of food insecurity within the military community.
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  • Welcome to Hadar: A Village Under Siege by al-Qaeda and Israeli Forces Alike
    Eva BartlettJune 27, 2018
    The village of Hadar, in Southern Syria, is buttressed on one side by Israeli watchtowers and walls – and endures deadly attacks from jihadist Syrian rebels from the other three.



    June 22, 2018, Mint Press News


    HADAR, SYRIA — Situated in the northern part of Quneitra governorate, with the towering Jabal al-Sheikh (Mt. Hermon) overlooking it and the region, Hadar is in both a beautiful area of Syria and a dangerous one.

    The roughly 10,000 defiant villagers of Hadar are isolated and under constant threat of attack. Until December 2017, Hadar was surrounded on three sides by terrorists and was attacked many times.

    The southwestern Syrian village of Hadar is next to the 1974 ceasefire line

    Positioned in a valley, with the al-Qaeda alliance until December 2017 occupying Beit Jinn and other villages to the east, Hadar also borders the ceasefire line of the occupied Syrian Golan, an area teeming with still more al-Qaeda terrorists. From their positions inside the United Nations Disengagement Observer Force (UNDOF) zone of the occupied Syrian Golan, terrorists in Jubata al-Khashab (roughly 6 kilometers directly south of Hadar), Turunjah (roughly 5 kilometers south of Hadar), and Ufaniyah (further south than Jubata al-Khashab), have fired mortars, missiles, and other explosives on Hadar, something acknowledged even by the UN Secretary-General.

    Distance between Hadar and Jubata al Khashab which is occupied by al Qaeda terrorists

    In his December 6, 2017 report, the Secretary-General noted that terrorist groups fighting in the UNDOF area of operation include “the listed terrorist group Jabhat Fath al-Sham (formerly the Nusra Front) and Jaysh Khalid Ibn al-Walid, which pledged allegiance to the Islamic State in Iraq and the Levant (ISIL).”

    The same report noted the attacks from the three villages towards Hadar were preceded by a “vehicle-borne improvised explosive device,” which killed nine people. In Hadar, I would learn that the car bomb didn’t just target “a pro-Syrian forces checkpoint in Hadar,” as per the UN report, but was headed towards the heart of the village when shot at by Hadar defenders. The vehicle exploded less than 100 meters from a school, at 9 a.m., according to Hadar resident Mahmoud Taweel. Had the village not been on alert, and families staying at home, the number killed would have surely been higher and included many children.

    Road of Nov 2017 suicide car bomb Israeli observation post above
    The road leading to the site of the deadly, Nov 2017 suicide car bomb. An Israeli observation post is visible atop in the mountain in the background. Eva Bartlett | MintPress News
    Most recently, on June 16, Syrian state media, SANA, reported that terrorists in Jubata al Khashab, “set fire once again to a large area of agricultural lands in the vicinity of Hadar village,” burning acres of fruit orchards south of the village. SANA further reported that firefighters were unable to reach the area to quell the fire, devastating the farmland and depriving landowners of their prime source of income.

    The support of Hadar villagers for their army and president is unsurprising, given these are the two bodies that have protected them and supported them against attacks from al-Qaeda and Israel, next door to Hadar.

    According to a report by Syrian journalist Alaa Ebrahim, the last attack on Hadar was on November 3, 2017, “… a ground offensive in three different directions, in an attempt to take the last few kilometers the government still controls along the border with Israel.” The Syrian army, Ebrahim noted, controls only five kilometers of the border with Israel and is limited in the number of military units it can move to the area, under the disengagement agreement reached following the 1973 war with Israel.

    Mr. Taweel explained that people of his town view Jabal al-Sheikh as a symbol of blessings. On top of that same mountain, Israeli observation posts oversee all activity. Hadar residents and Syrian soldiers believe that Israel has been coordinating with terrorist groups in their attacks on the village. Given that UNDOF forces themselves have documented Israeli soldiers interacting with terrorists in the occupied Syrian Golan, and given that Israel has attacked Syria on numerous occasions, the belief that the Israelis are aiding al-Qaeda terrorists in attacks on Hadar is more than reasonable.

    The corporate media silence on Hadar, in spite of what the villagers have endured and continue to face, would be surprising if it wasn’t already clear that corporate media isn’t interested in highlighting these kinds of Syrians. Just as they dismiss narratives of Syrians who do not support any of the terrorist factions, so have they corporate media dismissed narratives of Syrians who are proud supporters of the Syrian army and the democratically-elected president and Syrians whose experiences defy outside claims of a “civil war,” “revolution,” or “sectarian conflict.”

    “Our farmers can’t reach their land”

    On May 4, in a hired taxi and with a translator, I headed for Hadar to meet with Mahmoud Taweel, an English teacher, who would also introduce me to other Hadar residents, to hear from them on the attacks they’ve endured and the threats they’ve fought off, along with the Syrian army — largely to the silence of corporate media.

    Along the way, our taxi was joined by a car of four Syrian soldiers, who accompanied us both to show us the safest route to Hadar and also to protect us should terrorists in surrounding areas attack.

    We drove along a road flanking a heavily fortified UN base for a brief period, then followed another road cutting through open fields, Jabal al-Sheikh in the distance, finally descending along a narrow road winding its way through endless fruit-tree orchards before entering Hadar.

    In hired taxi en route to Hadar with Jabal al Sheikh in background20180504_112417

    In the town square, I chatted with a woman and man in a small shop until Mr. Taweel arrived. After a five minute walk, we reached his stone house, surrounded by fruit and other trees and adorned with yellow rose bushes.

    Watch | Hadar resident Mahmoud Taweel on life under threat from terrorism



    I asked Mahmoud Taweel to speak about life in Hadar over the past years. He said, of the terrorists south of Hadar and those formerly east of the town:

    They have been terrorizing us, by shelling, mortars. The most important thing is that they are depriving us of reaching our fertile farms. Ninety percent of our civilians depend on farming for their living. But our farmers can’t reach their land.”

    I was struck by the similarity of the situation of Palestinian farmers and these Hadar villagers. In the case of Palestinians, it is Israeli illegal colonists and soldiers who violently prevent them from accessing their lands, whether in West Bank areas of occupied Palestine or in the tiny and all too familiar Gaza Strip.

    Having worked for years with farmers in Gaza and also in the West Bank, with the violent Israeli tactics of shooting live ammunition to harass farmers off their land. This harassment has killed dozens of farmers and maimed many more. The situation in Hadar isn’t much different, except al-Qaeda and other terrorists do the attacking, bombing and burning of farmland and killing of villagers.

    Many maimed, many martyrs

    Hadar has a population of around 10,000, according to Mahmoud Taweel. I asked him about those injured and killed by terrorist attacks. He replied:

    Too many people were killed. At least 130 martyrs, and around 400 injuries and casualties. Some of them are hopeless cases: they can’t walk, speak, talk, and they need a very intensive health care on a daily basis.”

    So I asked him whether there is a hospital in the town to provide the needed health care to the injured:

    No hospital in Hadar, just a small mobile clinic with insufficient equipment. Ambulances took injured to Damascus, always under the threat of sniping from terrorists on either side.”

    Additionally, Hadar has suffered periods of no electricity. “Three months with no power at all,” Mr. Taweel said. “And the moment that the government restores power, the terrorists shell and destroy it…to make us live in darkness.”

    Mr. Taweel said Hadar village has two high schools, two primary, two intermediate, and one kindergarten. We drove to one of the schools, the one near to the site of the November 3, 2017, suicide car bombing just at the northern edge of Hadar. Mr. Taweel pointed to a deep rut in the road, now filled in with gravel, saying that was where the suicide bomber had detonated the explosives. Some meters away, the ruins of a small shop.

    Zooming in on the Israeli observatories overlooking Hadar, I asked whether they believed Israel had a role in the attacks that day.

    One of two Israeli observation posts overlooking the village and region
    One of the two Israeli observation posts overlooking Hadar, Syria. Eva Bartlett | MintPress News
    “For sure,” Mr. Taweel replied, “The final battle on November 3 was schemed, planned, and supported by Israel.”

    In his November 5, 2017 report, Alaa Ebrahim interviewed a Syrian army official who said: “Militants and Israel prepared this assault for three months and were thwarted in two hours.”

    By mid-December, Syrian army units recaptured areas to Hadar’s northeast that had been occupied by al-Nusra. By the end of December, following military operations by the Syrian army and local defenders, terrorists were evacuated from Beit Jinn (to Hadar’s east), part of a deal to restore peace to that area. By January 2018, families who had been displaced from Beit Jinn and surrounding areas were returning. The restoration of security to Beit Jinn and surrounding areas also, importantly, meant one less front from which terrorists could attack Hadar. Terrorists remain in areas south of the village, and continue their attacks.

    Facing occupied land

    Israeli road cutting through Syrian land at occupied Syrian Golan Heights
    An Israeli road, heavily fortified, cuts through Syrian land on both sides in the occupied Golan Heights. Eva Bartlett | MintPress News
    Descending the winding road a few kilometers to the west of Hadar, the hills of Majdal Shams, in the occupied Syrian Golan, appeared. Between the hill I stood on and Majdal Shams, an Israeli road fortified by a fence sliced the two Syrian lands, securing the land Israel has stolen and illegally occupies.

    The Syrian mission to the UN post on the occupied Syrian Golan reads:

    …[T]he Golan was home to over 140,000 Syrians, most of whom were driven out of their homeland and into Internally Displaced Persons (IDPs) status. Till this day, almost 40 years later, the Syrian inhabitants of the Golan are still unable to return to their homes, towns and cities. Today these Syrians exceed 500,000 people. Some Syrians remained in the Occupied Syrian Golan and continue to live in small villages amounting to approximately 20,000 Syrians.

    Most of the Syrian cities, towns and villages in the Golan were destroyed by Israeli occupation forces, who in turn have built over 40 illegal settlements despite all international condemnation. Israel continues not only to occupy the Syrian Golan but to also destroy its ancient ruins and geopolitical atmosphere for the sole purpose of cleansing the Golan of its Syrian people and their history.”

    DSCN2890
    White Building is on “Shouting Hill”, when Syrians on Hadar side communicated with Syrians in occupied Golan’s Majdal Shams. -Eva Bartlett
    The hill I stood on, far lower than surrounding hills, was known as the Shouting Valley, because shouting by megaphones was for many years the sole means of communication between Syrians from Hadar and those in Israeli-occupied Majdal Shams.

    A February 2014 article in al-Akhbar by Firas Choufi noted:

    After the 1973 War, residents of liberated Hadar and occupied Majdal Shams were separated into ‘two banks,’ and since then, they would meet, converse, and share news and concerns by shouting in megaphones, giving the area its name.

    …The villages of Majdal Shams, Baqaatha, Masaada, Ain Qanya, and al-Ghajar are in truth the only villages in the Golan still inhabited by their native residents. In the 1967 War, the Israeli occupation ethnically cleansed two cities and more than 300 villages and farms in the Golan, using systematic massacres, bombardment, demolition of homes, and arrests, completely leveling existing villages.

    Today, around 23,000 Syrians live in the Golan Heights, and reject Israeli citizenship. They inhabit an area that is no bigger that 7 percent of the total area of the Golan Heights, which represents the primary source of water for occupied Lake Tiberias (Sea of Galilee).

    Meanwhile, 10,000 Jewish Israeli settlers live in 45 settlements built atop the ruins of Syrian villages, the largest of which is the settlement of Katzrin, which was built on the ruins of the Syrian town of Qisrin. Recently, the Israeli government officially declared the settlement an Israeli city.”

    In the valley to my right, between Jabal al-Sheikh and the hill I stood on, lay farmland belonging to residents living in occupied Majdal Shams. Mahmoud Taweel explained that since the owners can’t cross from occupied Majdal Shams, relatives tend the land for them. He also noted that the lush land roughly two hundred meters from the fence is not workable; it is prohibited. Yet, on the side occupied by Israel, houses and worked farmland extend right up to the fence.

    Farmland which owners in occupied Majdal Shams can not accessAccording to Hadar resident Mahmoud Taweel farmers are prohibited from farming near the fence

    I was again reminded of Gaza, where farmers can’t access fertile land within up to a kilometer along the fence with Israeli-occupied Palestine. This land, the former breadbasket of Gaza, has been forcibly rendered dry and wasted. Israel has systematically destroyed wells and cisterns to ensure that those brave farmers who try to work their land regardless of Israel’s unilaterally and illegally imposed restrictions will find it nearly impossible to grow wheat and vegetables. On the Israeli-occupied side of that Gaza fence, the land is lushly green, irrigated with modern equipment. The same Israeli double-standards apply around the occupied Syrian Golan.

    UN condemns then collaborates

    The United Nations’ Security Council and General Assembly have long-condemned Israel’s many violations of international law with respect to its occupation of the Syrian Golan Heights, including Israel’s “failure to comply with Security Council resolution 497 (1981)…” That resolution included demanding that Israel rescind its “decision to impose its laws, jurisdiction and administration in the occupied Syrian Golan Heights.”

    The UN General Assembly declared:

    Israel’s decision of 14 December, 1981 to impose its laws, jurisdiction and administration on the occupied Syrian Golan Heights constitutes an act of aggression under the provisions of Article 39 of the Charter of the United Nations and General Assembly resolution 3314 … Israel’s decision to impose its laws, jurisdiction and administration on the occupied Syrian Golan Heights is null and void and has no legal validity and/or effect whatsoever.”

    The UN rightly views Israel’s occupation and annexation of the Syrian Golan Heights as a “continuing threat to international peace and security.”

    That Israel essentially has gotten a carte blanche from most Western nations to illegally annex further Palestinian land, occupy Syrian and Lebanese land, and continue murdering Palestinians and attacking Syria is not terribly surprising given the Israeli-UN collaboration in the occupied Syrian Golan, a collaboration notably including al-Qaeda terrorists.

    image_650_365
    A photo from the Israel, Syrian border along the Golan Heights shows IDF soldiers conversing with al-Qaeda affiliated Jabhat al-Nusra fighters.
    On December 22, 2014 Al Akhbar reported:

    Observers from the United Nations Disengagement Observer Force (UNDOF) confirmed in a report cooperation and coordination between the Israeli army and militant groups in Syria.

    The UNDOF report said that observers witnessed several meetings between rebel leaders and Israeli army forces between December 2013 and March 2014, in addition to witnessing the transportation of hundreds of injured militants to Israeli hospitals following confrontations between the militants and the Syrian army near the occupied Golan border.”

    Regarding the November 3, 2017 terrorist attacks on Hadar and surrounding Syrian areas, a UNSC report noted:

    Armed groups launched an attack involving heavy machine gun, small arms and indirect fire from the tri-village area of Jubbata al-Khashab, Turunjah and Ufaniyah in the area of separation against pro-Government forces in the vicinity of Hadar, which is largely inhabited by members of the Druze community.

    …Preceding the attack, open sources reported that a vehicle-borne improvised explosive device targeted a pro-Syrian forces checkpoint in Hadar, killing nine people.”

    But the role of the UN regarding Israel’s interaction with, and support of, terrorists doesn’t end with merely reporting on these facts. The UN also whitewashes the Israeli-al-Qaeda coordination and puts the blame on Syria for defending itself.

    As I wrote previously:

    In a November 2014 report, the Secretary-General mentioned the presence of al-Nusra and other terrorists in the ceasefire area ‘unloading weapons from a truck,’ as well as a ‘vehicle with a mounted anti-aircraft gun’ and Israeli ‘interactions’ with ‘armed gangs.’ Nonetheless, he went on to condemn strongly the Syrian army’s presence, offering no alternative solution to how to fight against those who fire on Syrian army and civilians from within the UNDOF-deserted area.”

    The Syrian Mandela



    al-Maket-arrested-under-gag-1-001
    Sedqi al-Maqt was arrested by Israel’s Shin Bet for exposing collaboration between Syrian rebels and Israel.
    In April 2017, Syria’s Ambassador to the UN Dr. Bashar al-Ja’afari, speaking on Israel’s occupation of Syrian territory, also said:

    We have to call on Israel to free Sedqi al-Maqt—who we call the Syrian Mandela—and others who are in Israeli prisons for taking pictures, taking photos that prove that Israel is cooperating with the al-Nusra Front in the occupied Syrian Golan.”

    Maqt is a Syrian in his early 50s from the occupied Syrian Golan who was imprisoned 27 years in Israeli prisons for his resistance to the Israeli occupation of Syrian land. He was released in 2012. Later, Maqt began filming the “joint cooperation between,” as he stated, Israeli soldiers and al-Qaeda terrorists near the Quneitra crossing. He was re-arrested by Israeli secret police in February 2015.



    Maqt also reported seeing Israeli forces supplying terrorists with weapons and munitions, and conveyed his feeling that the crossing had been turned into an operations room and safe shelter for terrorists attacking Syria, with the support and knowledge of the Israelis and the UN.

    In one of his reports, Maqt noted that, “the terrorists would move with complete freedom,” from the areas they occupied in the Syrian Golan to areas where UN and Israeli forces were present. He noted that when the Syrian army shelled them, al-Qaeda and other terrorists took cover in areas where the Israeli and UN forces were present.

    Prior to his 2015 arrest, Maqt also reported on the Israeli field hospitals that are treating terrorists, and reported that residents of the occupied Syrian Golan daily see Israeli ambulances transporting terrorists, and Israeli forces interacting with terrorists:

    There’s no way you could bring these terrorists to this field hospital if there wasn’t a joint operations room and daily communication and coordination..between Israeli forces and terrorist commanders.”



    Ironically, when Sedqi al-Maqt was arrested, Israel charged him with “terrorism offences.”

    When I visited the last couple hundred meters of Syrian land before occupied Majdal Shams, the sight of the vacated UN post, just to my left and before the illegally annexed Majdal Shams, was a visible reminder that Israel — with over 70 UN resolutions condemning it for its genocidal, land-thieving, war-criminal behavior against Palestinians, also including attacks on Syria and Lebanon — continues to evade facing any proper justice, making a farce of the UN and international law.

    Hadar villagers speak through tears of terrorism they’ve faced

    Just before the main square in Hadar, I met Atef Nakkour, sitting in his small shop. He welcomed me and spoke of Hadar’s defiance:

    You are very welcome in Hadar, this resistant village that has provided the invaluable to defend its dignity and freedom, and the dignity of the motherland. We are clinging to our land regardless of who agrees or disagrees.”

    Atef Nakkour defiantly proud of Syrian army and leadership
    Hadar resident Atef Nakkour, proud supporter of Syrian army and leadership. -Eva Bartlett
    He too mentioned at least 130 martyrs from the village, and spoke of Hadar’s gratitude to the Syrian army:

    We wholeheartedly endorse our army and our leadership.”

    Hadar’s former mukthar (mayor), Jawdat al-Taweel, “Abu Abdu,” is a towering, charismatic man. He is still a popular figure in Hadar, and now runs a clothes shop in town.

    He gave me a tour of the destruction from terrorist attacks. We stopped first at an internally-gutted, one-level shop that used to sell dairy and other food products. The shop, run by a family of women, was shelled and its equipment and goods destroyed in September 2017. The women now have no income.

    Watch | Jawdat al-Taweel, Hadar’s former mayor, shows damage to homes after terrorist’ shelling



    We continued, Abu Abdu pointing out scars of the shellings, in walls and roofs on either side. From around a corner, Atef Nakkour shouted for Abu Abdu to show me his own damaged home. We climbed onto a rooftop and walked to its edge. The former mayor pointed out more damage, the remnants of shelling, and called down to Nakkour, “Where were you standing when it happened?”

    Nakkour, standing on the street below us, replied that he’d been standing in the same spot, that a shell landed on a car parked nearby, shrapnel exploding towards the second level, damaging his home. Largely repaired, pockets in the roof overhang evidence the shelling.

    Walking down from the square and to a small home surrounded by a stone wall, bushes and flowers, an elderly man and his wife spoke of their murdered son and relative. Mr. Hassoun spoke slowly, and as he described losing his son, Minhal Ahmed Hassoun, both he and his wife next to him began to cry. Through tears, he began:

    Yes we lost young men, but we invaded no one, and we had no intention to kill anyone. They came to us on our land, and wanted to kill us and to humiliate us, but our youth and our heroic men preferred martyrdom to humiliation.”

    Mahmoud Taweel added that the village men had fought alongside the Syrian army, fighting the terrorists who attack Hadar.

    Mr. Hassoun continued:

    They [terrorists] came in large numbers, and Israel backed them with artillery, but our men refused to withdraw a meter from their trenches. When the hero Minhal was martyred, his brother was next to him. He closed Minhal’s eyes, and said to him: ‘Your blood is invaluable, and they will pay for what they did.’”

    Minhal had been studying law at Damascus University, Mr. Hassoun said:

    I told him, ‘My son, finish your studies and get your degree, these battles are long.’ He answered me, ‘My father, the degree dies the moment its holder dies, but martyrdom for the motherland never dies, it lasts for generations.’

    He took his wife to Jaramana, to the hospital so that she could give birth. They told him that there were still three or four days until it was her time, but he left his wife with his siblings, and said to her: ‘I want to go, the elders [his parents] are there and I won’t leave them alone.’

    He came back in the evening, left for the battle next morning, and was martyred at 8 a.m.”

    The newborn baby was named after his martyred father, Minhal.

    Watch | Abu Minhal speaks of his son, who was killed defending Hadar



    Minhal’s mother, who had been quietly wiping away her tears, listed their losses:

    My grandson was the first martyr, his name was Anas. Then after him my son was martyred, his name was Minhal. After him my nephew was martyred, his name was Ismaeel. After that two more nephews of mine were martyred: one was called Hamed and the other one Hasan.”

    She finished with a stoic comment reflecting the resilience not only of Hadar but of Syrians in general:

    Losing a feather wouldn’t make a bird nude. No matter how many we lose, it’s better than those dogs come here.”

    Before leaving, Mr. Hassoun brought out his old rifle and said:

    We are following our ancestors’ steps and will never give up our motherland as long as we are alive.”

    The terrorist attacks on Hadar and its farmland continue to the shrugs of Western corporate media precisely because reporting on such devastation by what the same media sells us as “rebels” would once again shatter the myth of “moderates,” the myth of a “revolution,” and of a “civil war.”

    In addition to Hadar’s strategic position, the people of Hadar are being attacked because they stand with their army and president. But after years of such attacks, and after over 130 martyrs, it is clear Hadar villagers have no intention of changing their stance, much like defiant Syrians throughout Syria.

    Now unemployed Hadar resident outside her former food and dairy shop destroyed in terrorist shelling in September 2017
    Now unemployed Hadar resident outside her former food and dairy shop destroyed in terrorist shelling in September 2017 -Eva Bartlett
    Hadar resident outside of his shrapnel damaged home
    A Hadar resident stands outside of his shrapnel damaged home. Eva Bartlett | MintPress News
    Looking south from Hadar2
    The author. To the left of this frame, some kilometres south, al-Qaeda occupied Jubata al-Khashab and attacks Hadar.
    The author with Mahmoud Taweel taxi driver and Syria army protection just near occupied Majdal Shams
    At occupied Majdal Shams, with Hadar resident Mahmoud Taweel, my hired taxi driver, and two Syrian soldiers who accompanied me to ensure my safety from al-Qaeda terrorists off the road to Hadar.
    Related articles:

    –Absurdities of Syrian war propaganda

    –Scoundrels & gangsters at UN: Silencing the Syrian narrative

    –Interview: Syrian Ambassador to the UN, Dr. Bashar al-Ja’afari on Sovereignty, Terrorism, and the Failure of the UN
    Welcome to Hadar: A Village Under Siege by al-Qaeda and Israeli Forces Alike Eva BartlettJune 27, 2018 The village of Hadar, in Southern Syria, is buttressed on one side by Israeli watchtowers and walls – and endures deadly attacks from jihadist Syrian rebels from the other three. June 22, 2018, Mint Press News HADAR, SYRIA — Situated in the northern part of Quneitra governorate, with the towering Jabal al-Sheikh (Mt. Hermon) overlooking it and the region, Hadar is in both a beautiful area of Syria and a dangerous one. The roughly 10,000 defiant villagers of Hadar are isolated and under constant threat of attack. Until December 2017, Hadar was surrounded on three sides by terrorists and was attacked many times. The southwestern Syrian village of Hadar is next to the 1974 ceasefire line Positioned in a valley, with the al-Qaeda alliance until December 2017 occupying Beit Jinn and other villages to the east, Hadar also borders the ceasefire line of the occupied Syrian Golan, an area teeming with still more al-Qaeda terrorists. From their positions inside the United Nations Disengagement Observer Force (UNDOF) zone of the occupied Syrian Golan, terrorists in Jubata al-Khashab (roughly 6 kilometers directly south of Hadar), Turunjah (roughly 5 kilometers south of Hadar), and Ufaniyah (further south than Jubata al-Khashab), have fired mortars, missiles, and other explosives on Hadar, something acknowledged even by the UN Secretary-General. Distance between Hadar and Jubata al Khashab which is occupied by al Qaeda terrorists In his December 6, 2017 report, the Secretary-General noted that terrorist groups fighting in the UNDOF area of operation include “the listed terrorist group Jabhat Fath al-Sham (formerly the Nusra Front) and Jaysh Khalid Ibn al-Walid, which pledged allegiance to the Islamic State in Iraq and the Levant (ISIL).” The same report noted the attacks from the three villages towards Hadar were preceded by a “vehicle-borne improvised explosive device,” which killed nine people. In Hadar, I would learn that the car bomb didn’t just target “a pro-Syrian forces checkpoint in Hadar,” as per the UN report, but was headed towards the heart of the village when shot at by Hadar defenders. The vehicle exploded less than 100 meters from a school, at 9 a.m., according to Hadar resident Mahmoud Taweel. Had the village not been on alert, and families staying at home, the number killed would have surely been higher and included many children. Road of Nov 2017 suicide car bomb Israeli observation post above The road leading to the site of the deadly, Nov 2017 suicide car bomb. An Israeli observation post is visible atop in the mountain in the background. Eva Bartlett | MintPress News Most recently, on June 16, Syrian state media, SANA, reported that terrorists in Jubata al Khashab, “set fire once again to a large area of agricultural lands in the vicinity of Hadar village,” burning acres of fruit orchards south of the village. SANA further reported that firefighters were unable to reach the area to quell the fire, devastating the farmland and depriving landowners of their prime source of income. The support of Hadar villagers for their army and president is unsurprising, given these are the two bodies that have protected them and supported them against attacks from al-Qaeda and Israel, next door to Hadar. According to a report by Syrian journalist Alaa Ebrahim, the last attack on Hadar was on November 3, 2017, “… a ground offensive in three different directions, in an attempt to take the last few kilometers the government still controls along the border with Israel.” The Syrian army, Ebrahim noted, controls only five kilometers of the border with Israel and is limited in the number of military units it can move to the area, under the disengagement agreement reached following the 1973 war with Israel. Mr. Taweel explained that people of his town view Jabal al-Sheikh as a symbol of blessings. On top of that same mountain, Israeli observation posts oversee all activity. Hadar residents and Syrian soldiers believe that Israel has been coordinating with terrorist groups in their attacks on the village. Given that UNDOF forces themselves have documented Israeli soldiers interacting with terrorists in the occupied Syrian Golan, and given that Israel has attacked Syria on numerous occasions, the belief that the Israelis are aiding al-Qaeda terrorists in attacks on Hadar is more than reasonable. The corporate media silence on Hadar, in spite of what the villagers have endured and continue to face, would be surprising if it wasn’t already clear that corporate media isn’t interested in highlighting these kinds of Syrians. Just as they dismiss narratives of Syrians who do not support any of the terrorist factions, so have they corporate media dismissed narratives of Syrians who are proud supporters of the Syrian army and the democratically-elected president and Syrians whose experiences defy outside claims of a “civil war,” “revolution,” or “sectarian conflict.” “Our farmers can’t reach their land” On May 4, in a hired taxi and with a translator, I headed for Hadar to meet with Mahmoud Taweel, an English teacher, who would also introduce me to other Hadar residents, to hear from them on the attacks they’ve endured and the threats they’ve fought off, along with the Syrian army — largely to the silence of corporate media. Along the way, our taxi was joined by a car of four Syrian soldiers, who accompanied us both to show us the safest route to Hadar and also to protect us should terrorists in surrounding areas attack. We drove along a road flanking a heavily fortified UN base for a brief period, then followed another road cutting through open fields, Jabal al-Sheikh in the distance, finally descending along a narrow road winding its way through endless fruit-tree orchards before entering Hadar. In hired taxi en route to Hadar with Jabal al Sheikh in background20180504_112417 In the town square, I chatted with a woman and man in a small shop until Mr. Taweel arrived. After a five minute walk, we reached his stone house, surrounded by fruit and other trees and adorned with yellow rose bushes. Watch | Hadar resident Mahmoud Taweel on life under threat from terrorism I asked Mahmoud Taweel to speak about life in Hadar over the past years. He said, of the terrorists south of Hadar and those formerly east of the town: They have been terrorizing us, by shelling, mortars. The most important thing is that they are depriving us of reaching our fertile farms. Ninety percent of our civilians depend on farming for their living. But our farmers can’t reach their land.” I was struck by the similarity of the situation of Palestinian farmers and these Hadar villagers. In the case of Palestinians, it is Israeli illegal colonists and soldiers who violently prevent them from accessing their lands, whether in West Bank areas of occupied Palestine or in the tiny and all too familiar Gaza Strip. Having worked for years with farmers in Gaza and also in the West Bank, with the violent Israeli tactics of shooting live ammunition to harass farmers off their land. This harassment has killed dozens of farmers and maimed many more. The situation in Hadar isn’t much different, except al-Qaeda and other terrorists do the attacking, bombing and burning of farmland and killing of villagers. Many maimed, many martyrs Hadar has a population of around 10,000, according to Mahmoud Taweel. I asked him about those injured and killed by terrorist attacks. He replied: Too many people were killed. At least 130 martyrs, and around 400 injuries and casualties. Some of them are hopeless cases: they can’t walk, speak, talk, and they need a very intensive health care on a daily basis.” So I asked him whether there is a hospital in the town to provide the needed health care to the injured: No hospital in Hadar, just a small mobile clinic with insufficient equipment. Ambulances took injured to Damascus, always under the threat of sniping from terrorists on either side.” Additionally, Hadar has suffered periods of no electricity. “Three months with no power at all,” Mr. Taweel said. “And the moment that the government restores power, the terrorists shell and destroy it…to make us live in darkness.” Mr. Taweel said Hadar village has two high schools, two primary, two intermediate, and one kindergarten. We drove to one of the schools, the one near to the site of the November 3, 2017, suicide car bombing just at the northern edge of Hadar. Mr. Taweel pointed to a deep rut in the road, now filled in with gravel, saying that was where the suicide bomber had detonated the explosives. Some meters away, the ruins of a small shop. Zooming in on the Israeli observatories overlooking Hadar, I asked whether they believed Israel had a role in the attacks that day. One of two Israeli observation posts overlooking the village and region One of the two Israeli observation posts overlooking Hadar, Syria. Eva Bartlett | MintPress News “For sure,” Mr. Taweel replied, “The final battle on November 3 was schemed, planned, and supported by Israel.” In his November 5, 2017 report, Alaa Ebrahim interviewed a Syrian army official who said: “Militants and Israel prepared this assault for three months and were thwarted in two hours.” By mid-December, Syrian army units recaptured areas to Hadar’s northeast that had been occupied by al-Nusra. By the end of December, following military operations by the Syrian army and local defenders, terrorists were evacuated from Beit Jinn (to Hadar’s east), part of a deal to restore peace to that area. By January 2018, families who had been displaced from Beit Jinn and surrounding areas were returning. The restoration of security to Beit Jinn and surrounding areas also, importantly, meant one less front from which terrorists could attack Hadar. Terrorists remain in areas south of the village, and continue their attacks. Facing occupied land Israeli road cutting through Syrian land at occupied Syrian Golan Heights An Israeli road, heavily fortified, cuts through Syrian land on both sides in the occupied Golan Heights. Eva Bartlett | MintPress News Descending the winding road a few kilometers to the west of Hadar, the hills of Majdal Shams, in the occupied Syrian Golan, appeared. Between the hill I stood on and Majdal Shams, an Israeli road fortified by a fence sliced the two Syrian lands, securing the land Israel has stolen and illegally occupies. The Syrian mission to the UN post on the occupied Syrian Golan reads: …[T]he Golan was home to over 140,000 Syrians, most of whom were driven out of their homeland and into Internally Displaced Persons (IDPs) status. Till this day, almost 40 years later, the Syrian inhabitants of the Golan are still unable to return to their homes, towns and cities. Today these Syrians exceed 500,000 people. Some Syrians remained in the Occupied Syrian Golan and continue to live in small villages amounting to approximately 20,000 Syrians. Most of the Syrian cities, towns and villages in the Golan were destroyed by Israeli occupation forces, who in turn have built over 40 illegal settlements despite all international condemnation. Israel continues not only to occupy the Syrian Golan but to also destroy its ancient ruins and geopolitical atmosphere for the sole purpose of cleansing the Golan of its Syrian people and their history.” DSCN2890 White Building is on “Shouting Hill”, when Syrians on Hadar side communicated with Syrians in occupied Golan’s Majdal Shams. -Eva Bartlett The hill I stood on, far lower than surrounding hills, was known as the Shouting Valley, because shouting by megaphones was for many years the sole means of communication between Syrians from Hadar and those in Israeli-occupied Majdal Shams. A February 2014 article in al-Akhbar by Firas Choufi noted: After the 1973 War, residents of liberated Hadar and occupied Majdal Shams were separated into ‘two banks,’ and since then, they would meet, converse, and share news and concerns by shouting in megaphones, giving the area its name. …The villages of Majdal Shams, Baqaatha, Masaada, Ain Qanya, and al-Ghajar are in truth the only villages in the Golan still inhabited by their native residents. In the 1967 War, the Israeli occupation ethnically cleansed two cities and more than 300 villages and farms in the Golan, using systematic massacres, bombardment, demolition of homes, and arrests, completely leveling existing villages. Today, around 23,000 Syrians live in the Golan Heights, and reject Israeli citizenship. They inhabit an area that is no bigger that 7 percent of the total area of the Golan Heights, which represents the primary source of water for occupied Lake Tiberias (Sea of Galilee). Meanwhile, 10,000 Jewish Israeli settlers live in 45 settlements built atop the ruins of Syrian villages, the largest of which is the settlement of Katzrin, which was built on the ruins of the Syrian town of Qisrin. Recently, the Israeli government officially declared the settlement an Israeli city.” In the valley to my right, between Jabal al-Sheikh and the hill I stood on, lay farmland belonging to residents living in occupied Majdal Shams. Mahmoud Taweel explained that since the owners can’t cross from occupied Majdal Shams, relatives tend the land for them. He also noted that the lush land roughly two hundred meters from the fence is not workable; it is prohibited. Yet, on the side occupied by Israel, houses and worked farmland extend right up to the fence. Farmland which owners in occupied Majdal Shams can not accessAccording to Hadar resident Mahmoud Taweel farmers are prohibited from farming near the fence I was again reminded of Gaza, where farmers can’t access fertile land within up to a kilometer along the fence with Israeli-occupied Palestine. This land, the former breadbasket of Gaza, has been forcibly rendered dry and wasted. Israel has systematically destroyed wells and cisterns to ensure that those brave farmers who try to work their land regardless of Israel’s unilaterally and illegally imposed restrictions will find it nearly impossible to grow wheat and vegetables. On the Israeli-occupied side of that Gaza fence, the land is lushly green, irrigated with modern equipment. The same Israeli double-standards apply around the occupied Syrian Golan. UN condemns then collaborates The United Nations’ Security Council and General Assembly have long-condemned Israel’s many violations of international law with respect to its occupation of the Syrian Golan Heights, including Israel’s “failure to comply with Security Council resolution 497 (1981)…” That resolution included demanding that Israel rescind its “decision to impose its laws, jurisdiction and administration in the occupied Syrian Golan Heights.” The UN General Assembly declared: Israel’s decision of 14 December, 1981 to impose its laws, jurisdiction and administration on the occupied Syrian Golan Heights constitutes an act of aggression under the provisions of Article 39 of the Charter of the United Nations and General Assembly resolution 3314 … Israel’s decision to impose its laws, jurisdiction and administration on the occupied Syrian Golan Heights is null and void and has no legal validity and/or effect whatsoever.” The UN rightly views Israel’s occupation and annexation of the Syrian Golan Heights as a “continuing threat to international peace and security.” That Israel essentially has gotten a carte blanche from most Western nations to illegally annex further Palestinian land, occupy Syrian and Lebanese land, and continue murdering Palestinians and attacking Syria is not terribly surprising given the Israeli-UN collaboration in the occupied Syrian Golan, a collaboration notably including al-Qaeda terrorists. image_650_365 A photo from the Israel, Syrian border along the Golan Heights shows IDF soldiers conversing with al-Qaeda affiliated Jabhat al-Nusra fighters. On December 22, 2014 Al Akhbar reported: Observers from the United Nations Disengagement Observer Force (UNDOF) confirmed in a report cooperation and coordination between the Israeli army and militant groups in Syria. The UNDOF report said that observers witnessed several meetings between rebel leaders and Israeli army forces between December 2013 and March 2014, in addition to witnessing the transportation of hundreds of injured militants to Israeli hospitals following confrontations between the militants and the Syrian army near the occupied Golan border.” Regarding the November 3, 2017 terrorist attacks on Hadar and surrounding Syrian areas, a UNSC report noted: Armed groups launched an attack involving heavy machine gun, small arms and indirect fire from the tri-village area of Jubbata al-Khashab, Turunjah and Ufaniyah in the area of separation against pro-Government forces in the vicinity of Hadar, which is largely inhabited by members of the Druze community. …Preceding the attack, open sources reported that a vehicle-borne improvised explosive device targeted a pro-Syrian forces checkpoint in Hadar, killing nine people.” But the role of the UN regarding Israel’s interaction with, and support of, terrorists doesn’t end with merely reporting on these facts. The UN also whitewashes the Israeli-al-Qaeda coordination and puts the blame on Syria for defending itself. As I wrote previously: In a November 2014 report, the Secretary-General mentioned the presence of al-Nusra and other terrorists in the ceasefire area ‘unloading weapons from a truck,’ as well as a ‘vehicle with a mounted anti-aircraft gun’ and Israeli ‘interactions’ with ‘armed gangs.’ Nonetheless, he went on to condemn strongly the Syrian army’s presence, offering no alternative solution to how to fight against those who fire on Syrian army and civilians from within the UNDOF-deserted area.” The Syrian Mandela al-Maket-arrested-under-gag-1-001 Sedqi al-Maqt was arrested by Israel’s Shin Bet for exposing collaboration between Syrian rebels and Israel. In April 2017, Syria’s Ambassador to the UN Dr. Bashar al-Ja’afari, speaking on Israel’s occupation of Syrian territory, also said: We have to call on Israel to free Sedqi al-Maqt—who we call the Syrian Mandela—and others who are in Israeli prisons for taking pictures, taking photos that prove that Israel is cooperating with the al-Nusra Front in the occupied Syrian Golan.” Maqt is a Syrian in his early 50s from the occupied Syrian Golan who was imprisoned 27 years in Israeli prisons for his resistance to the Israeli occupation of Syrian land. He was released in 2012. Later, Maqt began filming the “joint cooperation between,” as he stated, Israeli soldiers and al-Qaeda terrorists near the Quneitra crossing. He was re-arrested by Israeli secret police in February 2015. Maqt also reported seeing Israeli forces supplying terrorists with weapons and munitions, and conveyed his feeling that the crossing had been turned into an operations room and safe shelter for terrorists attacking Syria, with the support and knowledge of the Israelis and the UN. In one of his reports, Maqt noted that, “the terrorists would move with complete freedom,” from the areas they occupied in the Syrian Golan to areas where UN and Israeli forces were present. He noted that when the Syrian army shelled them, al-Qaeda and other terrorists took cover in areas where the Israeli and UN forces were present. Prior to his 2015 arrest, Maqt also reported on the Israeli field hospitals that are treating terrorists, and reported that residents of the occupied Syrian Golan daily see Israeli ambulances transporting terrorists, and Israeli forces interacting with terrorists: There’s no way you could bring these terrorists to this field hospital if there wasn’t a joint operations room and daily communication and coordination..between Israeli forces and terrorist commanders.” Ironically, when Sedqi al-Maqt was arrested, Israel charged him with “terrorism offences.” When I visited the last couple hundred meters of Syrian land before occupied Majdal Shams, the sight of the vacated UN post, just to my left and before the illegally annexed Majdal Shams, was a visible reminder that Israel — with over 70 UN resolutions condemning it for its genocidal, land-thieving, war-criminal behavior against Palestinians, also including attacks on Syria and Lebanon — continues to evade facing any proper justice, making a farce of the UN and international law. Hadar villagers speak through tears of terrorism they’ve faced Just before the main square in Hadar, I met Atef Nakkour, sitting in his small shop. He welcomed me and spoke of Hadar’s defiance: You are very welcome in Hadar, this resistant village that has provided the invaluable to defend its dignity and freedom, and the dignity of the motherland. We are clinging to our land regardless of who agrees or disagrees.” Atef Nakkour defiantly proud of Syrian army and leadership Hadar resident Atef Nakkour, proud supporter of Syrian army and leadership. -Eva Bartlett He too mentioned at least 130 martyrs from the village, and spoke of Hadar’s gratitude to the Syrian army: We wholeheartedly endorse our army and our leadership.” Hadar’s former mukthar (mayor), Jawdat al-Taweel, “Abu Abdu,” is a towering, charismatic man. He is still a popular figure in Hadar, and now runs a clothes shop in town. He gave me a tour of the destruction from terrorist attacks. We stopped first at an internally-gutted, one-level shop that used to sell dairy and other food products. The shop, run by a family of women, was shelled and its equipment and goods destroyed in September 2017. The women now have no income. Watch | Jawdat al-Taweel, Hadar’s former mayor, shows damage to homes after terrorist’ shelling We continued, Abu Abdu pointing out scars of the shellings, in walls and roofs on either side. From around a corner, Atef Nakkour shouted for Abu Abdu to show me his own damaged home. We climbed onto a rooftop and walked to its edge. The former mayor pointed out more damage, the remnants of shelling, and called down to Nakkour, “Where were you standing when it happened?” Nakkour, standing on the street below us, replied that he’d been standing in the same spot, that a shell landed on a car parked nearby, shrapnel exploding towards the second level, damaging his home. Largely repaired, pockets in the roof overhang evidence the shelling. Walking down from the square and to a small home surrounded by a stone wall, bushes and flowers, an elderly man and his wife spoke of their murdered son and relative. Mr. Hassoun spoke slowly, and as he described losing his son, Minhal Ahmed Hassoun, both he and his wife next to him began to cry. Through tears, he began: Yes we lost young men, but we invaded no one, and we had no intention to kill anyone. They came to us on our land, and wanted to kill us and to humiliate us, but our youth and our heroic men preferred martyrdom to humiliation.” Mahmoud Taweel added that the village men had fought alongside the Syrian army, fighting the terrorists who attack Hadar. Mr. Hassoun continued: They [terrorists] came in large numbers, and Israel backed them with artillery, but our men refused to withdraw a meter from their trenches. When the hero Minhal was martyred, his brother was next to him. He closed Minhal’s eyes, and said to him: ‘Your blood is invaluable, and they will pay for what they did.’” Minhal had been studying law at Damascus University, Mr. Hassoun said: I told him, ‘My son, finish your studies and get your degree, these battles are long.’ He answered me, ‘My father, the degree dies the moment its holder dies, but martyrdom for the motherland never dies, it lasts for generations.’ He took his wife to Jaramana, to the hospital so that she could give birth. They told him that there were still three or four days until it was her time, but he left his wife with his siblings, and said to her: ‘I want to go, the elders [his parents] are there and I won’t leave them alone.’ He came back in the evening, left for the battle next morning, and was martyred at 8 a.m.” The newborn baby was named after his martyred father, Minhal. Watch | Abu Minhal speaks of his son, who was killed defending Hadar Minhal’s mother, who had been quietly wiping away her tears, listed their losses: My grandson was the first martyr, his name was Anas. Then after him my son was martyred, his name was Minhal. After him my nephew was martyred, his name was Ismaeel. After that two more nephews of mine were martyred: one was called Hamed and the other one Hasan.” She finished with a stoic comment reflecting the resilience not only of Hadar but of Syrians in general: Losing a feather wouldn’t make a bird nude. No matter how many we lose, it’s better than those dogs come here.” Before leaving, Mr. Hassoun brought out his old rifle and said: We are following our ancestors’ steps and will never give up our motherland as long as we are alive.” The terrorist attacks on Hadar and its farmland continue to the shrugs of Western corporate media precisely because reporting on such devastation by what the same media sells us as “rebels” would once again shatter the myth of “moderates,” the myth of a “revolution,” and of a “civil war.” In addition to Hadar’s strategic position, the people of Hadar are being attacked because they stand with their army and president. But after years of such attacks, and after over 130 martyrs, it is clear Hadar villagers have no intention of changing their stance, much like defiant Syrians throughout Syria. Now unemployed Hadar resident outside her former food and dairy shop destroyed in terrorist shelling in September 2017 Now unemployed Hadar resident outside her former food and dairy shop destroyed in terrorist shelling in September 2017 -Eva Bartlett Hadar resident outside of his shrapnel damaged home A Hadar resident stands outside of his shrapnel damaged home. Eva Bartlett | MintPress News Looking south from Hadar2 The author. To the left of this frame, some kilometres south, al-Qaeda occupied Jubata al-Khashab and attacks Hadar. The author with Mahmoud Taweel taxi driver and Syria army protection just near occupied Majdal Shams At occupied Majdal Shams, with Hadar resident Mahmoud Taweel, my hired taxi driver, and two Syrian soldiers who accompanied me to ensure my safety from al-Qaeda terrorists off the road to Hadar. Related articles: –Absurdities of Syrian war propaganda –Scoundrels & gangsters at UN: Silencing the Syrian narrative –Interview: Syrian Ambassador to the UN, Dr. Bashar al-Ja’afari on Sovereignty, Terrorism, and the Failure of the UN
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  • The Age of Megathreats
    Nouriel RoubiniNov 4, 2022
    op_roubini3_Getty Images_worlddisaster Getty Images
    NEW YORK – Severe megathreats are imperiling our future – not just our jobs, incomes, wealth, and the global economy, but also the relative peace, prosperity, and progress achieved over the past 75 years. Many of these threats were not even on our radar during the prosperous post-World War II era. I grew up in the Middle East and Europe from the late 1950s to the early 1980s, and I never worried about climate change potentially destroying the planet. Most of us had barely even heard of the problem, and greenhouse-gas emissions were still relatively low, compared to where they would soon be.

    Moreover, after the US-Soviet détente and US President Richard Nixon’s visit to China in the early 1970s, I never really worried about another war among great powers, let alone a nuclear one. The term “pandemic” didn’t register in my consciousness, either, because the last major one had been in 1918. And I didn’t fathom that artificial intelligence might someday destroy most jobs and render Homo sapiens obsolete, because those were the years of the long “AI winter.”

    Similarly, terms like “deglobalization” and “trade war” had no purchase during this period. Trade liberalization had been in full swing since the Great Depression, and it would soon lead to the hyper-globalization that began in the 1990s. Debt crises posed no threat, because private and public debt-to-GDP ratios were low in advanced economies and emerging markets, and growth was robust. No one had to worry about the massive build-up of implicit debt, in the form of unfunded liabilities from pay-as-you-go social security and health-care systems. The supply of young workers was rising, the share of the elderly was still low, and robust, mostly unrestricted immigration from the Global South to the North would continue to prop up the labor market in advanced economies.

    Against this backdrop, economic cycles were contained, and recessions were short and shallow, except for during the stagflationary decade of the 1970s; but even then, there were no debt crises in advanced economies, because debt ratios were low. The kind of financial cycles that lead to crises were contained not just in advanced economies but even in emerging markets, owing to the low leverage, low risk-taking, solid financial regulation, capital controls, and various forms of financial repression that prevailed during this period. The advanced economies were strong liberal democracies that were free of extreme partisan polarization. Populism and authoritarianism were confined to a benighted cohort of poorer countries.

    Goodbye to All That

    Fast-forward from this relatively “golden” period between 1945 and 1985 to late 2022, and you will immediately notice that we are awash in new, extreme megathreats that were not previously on anyone’s mind. The world has entered what I call a geopolitical depression, with (at least) four dangerous revisionist powers – China, Russia, Iran, and North Korea – challenging the economic, financial, security, and geopolitical order that the United States and its allies created after WWII.

    There is a sharply rising risk not only of war among great powers but of a nuclear conflict. In the coming year, Russia’s war of aggression in Ukraine could escalate into an unconventional conflict that directly involves NATO. And Israel – and perhaps the US – may decide to launch strikes against Iran, which is on its way to building a nuclear bomb.


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    With Chinese President Xi Jinping further consolidating his authoritarian rule, and with the US tightening its trade restrictions against China, the new Sino-American cold war is getting colder by the day. Worse, it could all too easily turn hot over the status of Taiwan, which Xi is committed to reuniting with the mainland, and which US President Joe Biden is apparently committed to defending. Meanwhile, nuclear-armed North Korea has once again been seeking attention by firing rockets over Japan and South Korea.

    Cyberwarfare occurs daily between these revisionist powers and the West, and many other countries have adopted a non-aligned posture toward Western-led sanctions regimes. From our contingent vantage point in the middle of all these events, we don’t yet know if World War III has already begun in Ukraine. That determination will be left to future historians – if there are any.

    Even discounting the threat of nuclear Armageddon, the risk of an environmental Apocalypse is becoming increasingly serious, especially given that most of the talk about net-zero and ESG (environment, social, and governance) investing is just greenwashing – or greenwishing. The new greenflation is already in full swing, because it turns out that amassing the metals needed for the energy transition requires a lot of expensive energy.

    There is also a growing risk of new pandemics that would be worse than biblical plagues, owing to the link between environmental destruction and zoonotic diseases. Wildlife, carrying dangerous pathogens, are coming into closer and more frequent contact with humans and livestock. That is why we have experienced more frequent and virulent pandemics and epidemics (HIV, SARS, MERS, swine flu, bird flu, Zika, Ebola, COVID-19) since the early 1980s. All the evidence suggests that this problem will become even worse in the future. Indeed, owing to the melting of Siberian permafrost, we may soon be confronting dangerous viruses and bacteria that have been locked away for millennia.

    Moreover, geopolitical conflicts and national-security concerns are fueling trade, financial, and technology wars, and accelerating the deglobalization process. The return of protectionism and the Sino-American decoupling will leave the global economy, supply chains, and markets more balkanized and fragmented. The buzzwords “friend-shoring” and “secure and fair trade” have replaced “offshoring” and “free trade.”

    But on the domestic front, advances in AI, robotics, and automation will destroy more and more jobs, even if policymakers build higher protectionist walls in an effort to fight the last war. By both restricting immigration and demanding more domestic production, aging advanced economies will create a stronger incentive for companies to adopt labor-saving technologies. While routine jobs are obviously at risk, so, too, are any cognitive jobs that can be unbundled into discrete tasks, and even many creative jobs. AI language models like GPT-3 can already write better than most humans and will almost certainly displace many jobs and sources of income. In due course, some scientists believe that Homo sapiens will be rendered entirely obsolete by the rise of artificial general intelligence or machine super-intelligence – though this is a highly contentious subject of debate.

    Thus, over time, economic malaise will deepen, inequality will rise even further, and more white- and blue-collar workers will be left behind.

    Hard Choices, Hard Landings

    The macroeconomic situation is no better. For the first time since the 1970s, we are facing high inflation and the prospect of a recession – stagflation. The increased inflation in advanced economies wasn’t “transitory.” It is persistent, driven by a combination of bad policies – excessively loose monetary, fiscal, and credit policies that were kept in place for too long – and bad luck. No one could have anticipated how much the initial COVID-19 shock would curtail the supply of goods and labor and create bottlenecks in global supply chains. The same goes for Russia’s brutal invasion of Ukraine, which caused a sharp spike in energy, food, fertilizers, industrial metals, and other commodities. Meanwhile, China has continued its “zero-COVID” policy, which is creating additional supply bottlenecks.

    While both demand and supply factors were in the mix, it is now widely recognized that the supply factors have played an increasingly decisive role. This matters for the economic outlook, because supply-driven inflation is stagflationary and thus increases the risk that monetary-policy tightening will produce a hard landing (increased unemployment and potentially a recession).

    What will follow from the US Federal Reserve and other major central banks’ current tightening? Until recently, most central banks and most of Wall Street belonged to “Team Soft Landing.” But the consensus has rapidly shifted, with even Fed Chair Jerome Powell recognizing that a recession is possible, that a soft landing will be “very challenging,” and that everyone should prepare for some “pain” ahead. The Federal Reserve Bank of New York’s model shows a high probability of a hard landing, and the Bank of England has expressed similar views about the United Kingdom. Several prominent Wall Street institutions have also now made a recession their baseline scenario (the most likely outcome if all other variables are held constant).

    History, too, points to deeper problems ahead. For the past 60 years in the US, whenever inflation has been above 5% (it is above 8% today), and unemployment has been below 5% (it is now 3.5%), any attempt by the Fed to bring inflation down toward its 2% target has caused a recession. Thus, a hard landing is much more likely than a soft landing, both in the US and across most other advanced economies.

    Sticky Stagflation

    In addition to the short-term factors, negative supply shocks and demand factors in the medium term will cause inflation to persist. On the supply side, I count eleven negative supply shocks that will reduce potential growth and increase the costs of production. Among these is the backlash against hyper-globalization, which has been gaining momentum and creating opportunities for populist, nativist, and protectionist politicians, and growing public anger over stark income and wealth inequalities, which is leading to more policies to support workers and the “left behind.” However well-intentioned, such measures will contribute to a dangerous wage-price spiral.

    Other sources of persistent inflation include rising protectionism (from both the left and the right), which has restricted trade, impeded the movement of capital, and heightened political resistance to immigration, which in turn has put additional upward pressure on wages. National-security and strategic considerations have further restricted flows of technology, data, and talent, and new labor and environmental standards, as important as they may be, are hampering both trade and new construction.

    This balkanization of the global economy is deeply stagflationary, and it is coinciding with demographic aging, not just in developed countries but also in large emerging economies such as China. Because young people tend to produce and save more, whereas older people spend down their savings and require many more expensive services in health care and other sectors, this trend, too, will lead to higher prices and slower growth.

    Today’s geopolitical turmoil further complicates matters. The disruptions to trade and the spike in commodity prices following Russia’s invasion were not just a one-off phenomenon. The same threats to harvests and food shipments that arose in 2022 may well persist in 2023. Moreover, if China does finally end its zero-COVID policy and begin to restart its economy, a surge in demand for many commodities will add to the global inflationary pressures. There is also no end in sight for Sino-Western decoupling, which is accelerating across all dimensions of trade (goods, services, capital, labor, technology, data, and information). And, of course, Iran, North Korea, and other strategic rivals to the West could soon contribute in their own ways to the global havoc.

    Now that the US dollar has been fully weaponized for strategic and national-security purposes, its position as the main global reserve currency could eventually begin to decline, and a weaker dollar would of course add to inflationary pressures in the US. More broadly, a frictionless world trading system requires a frictionless financial system. But sweeping primary and secondary sanctions have thrown sand in what was once a well-oiled machine, massively increasing the transaction costs of trade.

    On top of it all, climate change, too, will create persistent stagflationary pressures. Droughts, heat waves, hurricanes, and other disasters are increasingly disrupting economic activity and threatening harvests (thus driving up food prices). At the same time, demands for decarbonization have led to underinvestment in fossil-fuel capacity before investment in renewables has reached the point where they can make up the difference. Today’s large energy-price spikes were inevitable.

    The increased likelihood of future pandemics also represents a persistent source of stagflation, especially considering how little has been done to prevent or prepare for the next one. The next contagious outbreak will lend further momentum to protectionist policies as countries rush to close borders and hoard critical supplies of food, medicines, and other essential goods.

    Finally, cyberwarfare remains an underappreciated threat to economic activity and even public safety. Firms and governments will either face more stagflationary disruptions to production, or they will have to spend a fortune on cybersecurity. Either way, costs will rise.

    The Worst of All Possible Economies

    When the recession comes, it will not be short and shallow but long and severe. Not only are we facing persistent short- and medium-term negative supply shocks, but we are also heading into the mother of all debt crises, owing to soaring private and public debt ratios over the last few decades. Low debt ratios spared us from that outcome in the 1970s. And though we certainly had debt crises following the 2008 crash – the result of excessive household, bank, and government debt – we also had deflation. It was a demand shock and a credit crunch that could be met with massive monetary, fiscal, and credit easing.

    Today, we are experiencing the worst elements of both the 1970s and 2008. Multiple, persistent negative supply shocks have coincided with debt ratios that are even higher than they were during the global financial crisis. These inflationary pressures are forcing central banks to tighten monetary policy even though we are heading into a recession. That makes the current situation fundamentally different from both the global financial crisis and the COVID-19 crisis. Everyone should be preparing for what may come to be remembered as the Great Stagflationary Debt Crisis.

    While central banks have been at pains to sound more hawkish, we should be skeptical of their professed willingness to fight inflation at any cost. Once they find themselves in a debt trap, they will have to blink. With debt ratios so high, fighting inflation will cause an economic and financial crash that will be deemed politically unacceptable. Major central banks will feel as though they have no choice but to backpedal, and inflation, the debasement of fiat currencies, boom-bust cycles, and financial crises will become even more severe and frequent.

    The inevitability of central banks wimping out was recently on display in the United Kingdom. Faced with the market reaction to the Truss government’s reckless fiscal stimulus, the BOE had to launch an emergency quantitative-easing (QE) program to buy up government bonds. That sad episode confirmed that in the UK, as in many other countries, monetary policy is increasingly subject to fiscal capture.

    Recall that a similar turnaround occurred in 2019, when the Fed, after previously signaling continued rate hikes and quantitative-tightening, stopped its QT program and started pursuing a mix of backdoor QE and policy-rate cuts at the first sign of mild financial pressures and a growth slowdown. Central banks will talk tough; but, in a world of excessive debt and risks of an economic and financial crash, there is good reason to doubt their willingness to do “whatever it takes” to return inflation to its target rate.

    With governments unable to reduce high debts and deficits by spending less or raising revenues, those that can borrow in their own currency will increasingly resort to the “inflation tax”: relying on unexpected price growth to wipe out long-term nominal liabilities at fixed interest rates.

    How will financial markets and prices of equities and bonds perform in the face of rising inflation and the return of stagflation? It is likely that, as in the stagflation of the 1970s, both components of any traditional asset portfolio will suffer, potentially incurring massive losses. Inflation is bad for bond portfolios, which will take losses as yields increase and prices fall, as well as for equities, whose valuations are hurt by rising interest rates.

    For the first time in decades, a 60/40 portfolio of equities and bonds suffered massive losses in 2022, because bond yields have surged while equities have gone into a bear market. By 1982, at the peak of the stagflation decade, the average S&P 500 firm’s price-to-earnings ratio was down to eight; today, it is closer to 20, which suggests that the bear market could end up being even more protracted and severe. Investors will need to find assets to hedge against inflation, political and geopolitical risks, and environmental damage: these include short-term government bonds and inflation-indexed bonds, gold and other precious metals, and real estate that is resilient to environmental damage.

    The Moment of Truth

    In any case, these megathreats will further contribute to rising income and wealth inequality, which has already been putting severe pressure on liberal democracies (as those left behind revolt against elites), and fueling the rise of radical and aggressive populist regimes. One can find right-wing manifestations of this trend in Russia, Turkey, Hungary, Italy, Sweden, the US (under Donald Trump), post-Brexit Britain, and many other countries; and left-wing manifestations in Argentina, Venezuela, Peru, Mexico, Colombia, Chile, and now Brazil (which has just replaced a right-wing populist with a left-wing one).

    And, of course, Xi’s authoritarian stranglehold has given the lie to the old idea that Western engagement with a fast-growing China would ineluctably lead that country to open itself up even more to markets and, eventually, to democratic processes. Under Xi, China shows every sign of becoming more closed off, and more aggressive on geopolitical, security, and economic matters.

    How did it come to this? Part of the problem is that we have long had our heads stuck in the sand. Now, we need to make up for lost time. Without decisive action, we will be heading into a period that is less like the four decades after WWII than like the three decades between 1914 and 1945. That period gave us World War I; the Spanish flu pandemic; the 1929 Wall Street crash; the Great Depression; massive trade and currency wars; inflation, hyperinflation, and deflation; financial and debt crises, leading to massive meltdowns and defaults; and the rise of authoritarian militarist regimes in Italy, Germany, Japan, Spain, and elsewhere, culminating in WWII and the Holocaust.

    In this new world, the relative peace, prosperity, and rising global welfare that we have taken for granted will be gone; most of it already is. If we don’t stop the multi-track slow-motion train wreck that is threatening the global economy and our planet at large, we will be lucky to have only a repeat of the stagflationary 1970s. Far more likely is an echo of the 1930s and the 1940s, only now with all the massive disruptions from climate change added to the mix.

    Avoiding a dystopian scenario will not be easy. While there are potential solutions to each megathreat, most are costly in the short run and will deliver benefits only over the long run. Many also require technological innovations that are not yet available or in place, starting with those needed to halt or reverse climate change. Complicating matters further, today’s megathreats are interconnected, and therefore best addressed in a systematic and coherent fashion. Domestic leadership, in both the private and public sector, and international cooperation among great powers is necessary to prevent the coming Apocalypse.

    Yet there are many domestic and international obstacles standing in the way of policies that would allow for a less dystopian (though still contested and conflictual) future. Thus, while a less bleak scenario is obviously desirable, a clear-headed analysis indicates that dystopia is much more likely than a happier outcome. The years and decades ahead will be marked by a stagflationary debt crisis and related megathreats – war, pandemics, climate change, disruptive AI, and deglobalization – all of which will be bad for jobs, economies, markets, peace, and prosperity.
    The Age of Megathreats Nouriel RoubiniNov 4, 2022 op_roubini3_Getty Images_worlddisaster Getty Images NEW YORK – Severe megathreats are imperiling our future – not just our jobs, incomes, wealth, and the global economy, but also the relative peace, prosperity, and progress achieved over the past 75 years. Many of these threats were not even on our radar during the prosperous post-World War II era. I grew up in the Middle East and Europe from the late 1950s to the early 1980s, and I never worried about climate change potentially destroying the planet. Most of us had barely even heard of the problem, and greenhouse-gas emissions were still relatively low, compared to where they would soon be. Moreover, after the US-Soviet détente and US President Richard Nixon’s visit to China in the early 1970s, I never really worried about another war among great powers, let alone a nuclear one. The term “pandemic” didn’t register in my consciousness, either, because the last major one had been in 1918. And I didn’t fathom that artificial intelligence might someday destroy most jobs and render Homo sapiens obsolete, because those were the years of the long “AI winter.” Similarly, terms like “deglobalization” and “trade war” had no purchase during this period. Trade liberalization had been in full swing since the Great Depression, and it would soon lead to the hyper-globalization that began in the 1990s. Debt crises posed no threat, because private and public debt-to-GDP ratios were low in advanced economies and emerging markets, and growth was robust. No one had to worry about the massive build-up of implicit debt, in the form of unfunded liabilities from pay-as-you-go social security and health-care systems. The supply of young workers was rising, the share of the elderly was still low, and robust, mostly unrestricted immigration from the Global South to the North would continue to prop up the labor market in advanced economies. Against this backdrop, economic cycles were contained, and recessions were short and shallow, except for during the stagflationary decade of the 1970s; but even then, there were no debt crises in advanced economies, because debt ratios were low. The kind of financial cycles that lead to crises were contained not just in advanced economies but even in emerging markets, owing to the low leverage, low risk-taking, solid financial regulation, capital controls, and various forms of financial repression that prevailed during this period. The advanced economies were strong liberal democracies that were free of extreme partisan polarization. Populism and authoritarianism were confined to a benighted cohort of poorer countries. Goodbye to All That Fast-forward from this relatively “golden” period between 1945 and 1985 to late 2022, and you will immediately notice that we are awash in new, extreme megathreats that were not previously on anyone’s mind. The world has entered what I call a geopolitical depression, with (at least) four dangerous revisionist powers – China, Russia, Iran, and North Korea – challenging the economic, financial, security, and geopolitical order that the United States and its allies created after WWII. There is a sharply rising risk not only of war among great powers but of a nuclear conflict. In the coming year, Russia’s war of aggression in Ukraine could escalate into an unconventional conflict that directly involves NATO. And Israel – and perhaps the US – may decide to launch strikes against Iran, which is on its way to building a nuclear bomb. Subscribe to PS Digital now to read all the latest insights from Nouriel Roubini. Digital subscribers enjoy access to every PS commentary, including those by Nouriel Roubini, plus our entire On Point suite of subscriber-exclusive content, including Longer Reads, Insider Interviews, Big Picture/Big Question, and Say More. For a limited time, save $15 with the code ROUBINI15. Subscribe Now With Chinese President Xi Jinping further consolidating his authoritarian rule, and with the US tightening its trade restrictions against China, the new Sino-American cold war is getting colder by the day. Worse, it could all too easily turn hot over the status of Taiwan, which Xi is committed to reuniting with the mainland, and which US President Joe Biden is apparently committed to defending. Meanwhile, nuclear-armed North Korea has once again been seeking attention by firing rockets over Japan and South Korea. Cyberwarfare occurs daily between these revisionist powers and the West, and many other countries have adopted a non-aligned posture toward Western-led sanctions regimes. From our contingent vantage point in the middle of all these events, we don’t yet know if World War III has already begun in Ukraine. That determination will be left to future historians – if there are any. Even discounting the threat of nuclear Armageddon, the risk of an environmental Apocalypse is becoming increasingly serious, especially given that most of the talk about net-zero and ESG (environment, social, and governance) investing is just greenwashing – or greenwishing. The new greenflation is already in full swing, because it turns out that amassing the metals needed for the energy transition requires a lot of expensive energy. There is also a growing risk of new pandemics that would be worse than biblical plagues, owing to the link between environmental destruction and zoonotic diseases. Wildlife, carrying dangerous pathogens, are coming into closer and more frequent contact with humans and livestock. That is why we have experienced more frequent and virulent pandemics and epidemics (HIV, SARS, MERS, swine flu, bird flu, Zika, Ebola, COVID-19) since the early 1980s. All the evidence suggests that this problem will become even worse in the future. Indeed, owing to the melting of Siberian permafrost, we may soon be confronting dangerous viruses and bacteria that have been locked away for millennia. Moreover, geopolitical conflicts and national-security concerns are fueling trade, financial, and technology wars, and accelerating the deglobalization process. The return of protectionism and the Sino-American decoupling will leave the global economy, supply chains, and markets more balkanized and fragmented. The buzzwords “friend-shoring” and “secure and fair trade” have replaced “offshoring” and “free trade.” But on the domestic front, advances in AI, robotics, and automation will destroy more and more jobs, even if policymakers build higher protectionist walls in an effort to fight the last war. By both restricting immigration and demanding more domestic production, aging advanced economies will create a stronger incentive for companies to adopt labor-saving technologies. While routine jobs are obviously at risk, so, too, are any cognitive jobs that can be unbundled into discrete tasks, and even many creative jobs. AI language models like GPT-3 can already write better than most humans and will almost certainly displace many jobs and sources of income. In due course, some scientists believe that Homo sapiens will be rendered entirely obsolete by the rise of artificial general intelligence or machine super-intelligence – though this is a highly contentious subject of debate. Thus, over time, economic malaise will deepen, inequality will rise even further, and more white- and blue-collar workers will be left behind. Hard Choices, Hard Landings The macroeconomic situation is no better. For the first time since the 1970s, we are facing high inflation and the prospect of a recession – stagflation. The increased inflation in advanced economies wasn’t “transitory.” It is persistent, driven by a combination of bad policies – excessively loose monetary, fiscal, and credit policies that were kept in place for too long – and bad luck. No one could have anticipated how much the initial COVID-19 shock would curtail the supply of goods and labor and create bottlenecks in global supply chains. The same goes for Russia’s brutal invasion of Ukraine, which caused a sharp spike in energy, food, fertilizers, industrial metals, and other commodities. Meanwhile, China has continued its “zero-COVID” policy, which is creating additional supply bottlenecks. While both demand and supply factors were in the mix, it is now widely recognized that the supply factors have played an increasingly decisive role. This matters for the economic outlook, because supply-driven inflation is stagflationary and thus increases the risk that monetary-policy tightening will produce a hard landing (increased unemployment and potentially a recession). What will follow from the US Federal Reserve and other major central banks’ current tightening? Until recently, most central banks and most of Wall Street belonged to “Team Soft Landing.” But the consensus has rapidly shifted, with even Fed Chair Jerome Powell recognizing that a recession is possible, that a soft landing will be “very challenging,” and that everyone should prepare for some “pain” ahead. The Federal Reserve Bank of New York’s model shows a high probability of a hard landing, and the Bank of England has expressed similar views about the United Kingdom. Several prominent Wall Street institutions have also now made a recession their baseline scenario (the most likely outcome if all other variables are held constant). History, too, points to deeper problems ahead. For the past 60 years in the US, whenever inflation has been above 5% (it is above 8% today), and unemployment has been below 5% (it is now 3.5%), any attempt by the Fed to bring inflation down toward its 2% target has caused a recession. Thus, a hard landing is much more likely than a soft landing, both in the US and across most other advanced economies. Sticky Stagflation In addition to the short-term factors, negative supply shocks and demand factors in the medium term will cause inflation to persist. On the supply side, I count eleven negative supply shocks that will reduce potential growth and increase the costs of production. Among these is the backlash against hyper-globalization, which has been gaining momentum and creating opportunities for populist, nativist, and protectionist politicians, and growing public anger over stark income and wealth inequalities, which is leading to more policies to support workers and the “left behind.” However well-intentioned, such measures will contribute to a dangerous wage-price spiral. Other sources of persistent inflation include rising protectionism (from both the left and the right), which has restricted trade, impeded the movement of capital, and heightened political resistance to immigration, which in turn has put additional upward pressure on wages. National-security and strategic considerations have further restricted flows of technology, data, and talent, and new labor and environmental standards, as important as they may be, are hampering both trade and new construction. This balkanization of the global economy is deeply stagflationary, and it is coinciding with demographic aging, not just in developed countries but also in large emerging economies such as China. Because young people tend to produce and save more, whereas older people spend down their savings and require many more expensive services in health care and other sectors, this trend, too, will lead to higher prices and slower growth. Today’s geopolitical turmoil further complicates matters. The disruptions to trade and the spike in commodity prices following Russia’s invasion were not just a one-off phenomenon. The same threats to harvests and food shipments that arose in 2022 may well persist in 2023. Moreover, if China does finally end its zero-COVID policy and begin to restart its economy, a surge in demand for many commodities will add to the global inflationary pressures. There is also no end in sight for Sino-Western decoupling, which is accelerating across all dimensions of trade (goods, services, capital, labor, technology, data, and information). And, of course, Iran, North Korea, and other strategic rivals to the West could soon contribute in their own ways to the global havoc. Now that the US dollar has been fully weaponized for strategic and national-security purposes, its position as the main global reserve currency could eventually begin to decline, and a weaker dollar would of course add to inflationary pressures in the US. More broadly, a frictionless world trading system requires a frictionless financial system. But sweeping primary and secondary sanctions have thrown sand in what was once a well-oiled machine, massively increasing the transaction costs of trade. On top of it all, climate change, too, will create persistent stagflationary pressures. Droughts, heat waves, hurricanes, and other disasters are increasingly disrupting economic activity and threatening harvests (thus driving up food prices). At the same time, demands for decarbonization have led to underinvestment in fossil-fuel capacity before investment in renewables has reached the point where they can make up the difference. Today’s large energy-price spikes were inevitable. The increased likelihood of future pandemics also represents a persistent source of stagflation, especially considering how little has been done to prevent or prepare for the next one. The next contagious outbreak will lend further momentum to protectionist policies as countries rush to close borders and hoard critical supplies of food, medicines, and other essential goods. Finally, cyberwarfare remains an underappreciated threat to economic activity and even public safety. Firms and governments will either face more stagflationary disruptions to production, or they will have to spend a fortune on cybersecurity. Either way, costs will rise. The Worst of All Possible Economies When the recession comes, it will not be short and shallow but long and severe. Not only are we facing persistent short- and medium-term negative supply shocks, but we are also heading into the mother of all debt crises, owing to soaring private and public debt ratios over the last few decades. Low debt ratios spared us from that outcome in the 1970s. And though we certainly had debt crises following the 2008 crash – the result of excessive household, bank, and government debt – we also had deflation. It was a demand shock and a credit crunch that could be met with massive monetary, fiscal, and credit easing. Today, we are experiencing the worst elements of both the 1970s and 2008. Multiple, persistent negative supply shocks have coincided with debt ratios that are even higher than they were during the global financial crisis. These inflationary pressures are forcing central banks to tighten monetary policy even though we are heading into a recession. That makes the current situation fundamentally different from both the global financial crisis and the COVID-19 crisis. Everyone should be preparing for what may come to be remembered as the Great Stagflationary Debt Crisis. While central banks have been at pains to sound more hawkish, we should be skeptical of their professed willingness to fight inflation at any cost. Once they find themselves in a debt trap, they will have to blink. With debt ratios so high, fighting inflation will cause an economic and financial crash that will be deemed politically unacceptable. Major central banks will feel as though they have no choice but to backpedal, and inflation, the debasement of fiat currencies, boom-bust cycles, and financial crises will become even more severe and frequent. The inevitability of central banks wimping out was recently on display in the United Kingdom. Faced with the market reaction to the Truss government’s reckless fiscal stimulus, the BOE had to launch an emergency quantitative-easing (QE) program to buy up government bonds. That sad episode confirmed that in the UK, as in many other countries, monetary policy is increasingly subject to fiscal capture. Recall that a similar turnaround occurred in 2019, when the Fed, after previously signaling continued rate hikes and quantitative-tightening, stopped its QT program and started pursuing a mix of backdoor QE and policy-rate cuts at the first sign of mild financial pressures and a growth slowdown. Central banks will talk tough; but, in a world of excessive debt and risks of an economic and financial crash, there is good reason to doubt their willingness to do “whatever it takes” to return inflation to its target rate. With governments unable to reduce high debts and deficits by spending less or raising revenues, those that can borrow in their own currency will increasingly resort to the “inflation tax”: relying on unexpected price growth to wipe out long-term nominal liabilities at fixed interest rates. How will financial markets and prices of equities and bonds perform in the face of rising inflation and the return of stagflation? It is likely that, as in the stagflation of the 1970s, both components of any traditional asset portfolio will suffer, potentially incurring massive losses. Inflation is bad for bond portfolios, which will take losses as yields increase and prices fall, as well as for equities, whose valuations are hurt by rising interest rates. For the first time in decades, a 60/40 portfolio of equities and bonds suffered massive losses in 2022, because bond yields have surged while equities have gone into a bear market. By 1982, at the peak of the stagflation decade, the average S&P 500 firm’s price-to-earnings ratio was down to eight; today, it is closer to 20, which suggests that the bear market could end up being even more protracted and severe. Investors will need to find assets to hedge against inflation, political and geopolitical risks, and environmental damage: these include short-term government bonds and inflation-indexed bonds, gold and other precious metals, and real estate that is resilient to environmental damage. The Moment of Truth In any case, these megathreats will further contribute to rising income and wealth inequality, which has already been putting severe pressure on liberal democracies (as those left behind revolt against elites), and fueling the rise of radical and aggressive populist regimes. One can find right-wing manifestations of this trend in Russia, Turkey, Hungary, Italy, Sweden, the US (under Donald Trump), post-Brexit Britain, and many other countries; and left-wing manifestations in Argentina, Venezuela, Peru, Mexico, Colombia, Chile, and now Brazil (which has just replaced a right-wing populist with a left-wing one). And, of course, Xi’s authoritarian stranglehold has given the lie to the old idea that Western engagement with a fast-growing China would ineluctably lead that country to open itself up even more to markets and, eventually, to democratic processes. Under Xi, China shows every sign of becoming more closed off, and more aggressive on geopolitical, security, and economic matters. How did it come to this? Part of the problem is that we have long had our heads stuck in the sand. Now, we need to make up for lost time. Without decisive action, we will be heading into a period that is less like the four decades after WWII than like the three decades between 1914 and 1945. That period gave us World War I; the Spanish flu pandemic; the 1929 Wall Street crash; the Great Depression; massive trade and currency wars; inflation, hyperinflation, and deflation; financial and debt crises, leading to massive meltdowns and defaults; and the rise of authoritarian militarist regimes in Italy, Germany, Japan, Spain, and elsewhere, culminating in WWII and the Holocaust. In this new world, the relative peace, prosperity, and rising global welfare that we have taken for granted will be gone; most of it already is. If we don’t stop the multi-track slow-motion train wreck that is threatening the global economy and our planet at large, we will be lucky to have only a repeat of the stagflationary 1970s. Far more likely is an echo of the 1930s and the 1940s, only now with all the massive disruptions from climate change added to the mix. Avoiding a dystopian scenario will not be easy. While there are potential solutions to each megathreat, most are costly in the short run and will deliver benefits only over the long run. Many also require technological innovations that are not yet available or in place, starting with those needed to halt or reverse climate change. Complicating matters further, today’s megathreats are interconnected, and therefore best addressed in a systematic and coherent fashion. Domestic leadership, in both the private and public sector, and international cooperation among great powers is necessary to prevent the coming Apocalypse. Yet there are many domestic and international obstacles standing in the way of policies that would allow for a less dystopian (though still contested and conflictual) future. Thus, while a less bleak scenario is obviously desirable, a clear-headed analysis indicates that dystopia is much more likely than a happier outcome. The years and decades ahead will be marked by a stagflationary debt crisis and related megathreats – war, pandemics, climate change, disruptive AI, and deglobalization – all of which will be bad for jobs, economies, markets, peace, and prosperity.
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  • The Age of Megathreats
    Nouriel RoubiniNov 4, 2022
    op_roubini3_Getty Images_worlddisaster Getty Images
    NEW YORK – Severe megathreats are imperiling our future – not just our jobs, incomes, wealth, and the global economy, but also the relative peace, prosperity, and progress achieved over the past 75 years. Many of these threats were not even on our radar during the prosperous post-World War II era. I grew up in the Middle East and Europe from the late 1950s to the early 1980s, and I never worried about climate change potentially destroying the planet. Most of us had barely even heard of the problem, and greenhouse-gas emissions were still relatively low, compared to where they would soon be.

    Moreover, after the US-Soviet détente and US President Richard Nixon’s visit to China in the early 1970s, I never really worried about another war among great powers, let alone a nuclear one. The term “pandemic” didn’t register in my consciousness, either, because the last major one had been in 1918. And I didn’t fathom that artificial intelligence might someday destroy most jobs and render Homo sapiens obsolete, because those were the years of the long “AI winter.”

    Similarly, terms like “deglobalization” and “trade war” had no purchase during this period. Trade liberalization had been in full swing since the Great Depression, and it would soon lead to the hyper-globalization that began in the 1990s. Debt crises posed no threat, because private and public debt-to-GDP ratios were low in advanced economies and emerging markets, and growth was robust. No one had to worry about the massive build-up of implicit debt, in the form of unfunded liabilities from pay-as-you-go social security and health-care systems. The supply of young workers was rising, the share of the elderly was still low, and robust, mostly unrestricted immigration from the Global South to the North would continue to prop up the labor market in advanced economies.

    Against this backdrop, economic cycles were contained, and recessions were short and shallow, except for during the stagflationary decade of the 1970s; but even then, there were no debt crises in advanced economies, because debt ratios were low. The kind of financial cycles that lead to crises were contained not just in advanced economies but even in emerging markets, owing to the low leverage, low risk-taking, solid financial regulation, capital controls, and various forms of financial repression that prevailed during this period. The advanced economies were strong liberal democracies that were free of extreme partisan polarization. Populism and authoritarianism were confined to a benighted cohort of poorer countries.

    Goodbye to All That

    Fast-forward from this relatively “golden” period between 1945 and 1985 to late 2022, and you will immediately notice that we are awash in new, extreme megathreats that were not previously on anyone’s mind. The world has entered what I call a geopolitical depression, with (at least) four dangerous revisionist powers – China, Russia, Iran, and North Korea – challenging the economic, financial, security, and geopolitical order that the United States and its allies created after WWII.

    There is a sharply rising risk not only of war among great powers but of a nuclear conflict. In the coming year, Russia’s war of aggression in Ukraine could escalate into an unconventional conflict that directly involves NATO. And Israel – and perhaps the US – may decide to launch strikes against Iran, which is on its way to building a nuclear bomb.


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    With Chinese President Xi Jinping further consolidating his authoritarian rule, and with the US tightening its trade restrictions against China, the new Sino-American cold war is getting colder by the day. Worse, it could all too easily turn hot over the status of Taiwan, which Xi is committed to reuniting with the mainland, and which US President Joe Biden is apparently committed to defending. Meanwhile, nuclear-armed North Korea has once again been seeking attention by firing rockets over Japan and South Korea.

    Cyberwarfare occurs daily between these revisionist powers and the West, and many other countries have adopted a non-aligned posture toward Western-led sanctions regimes. From our contingent vantage point in the middle of all these events, we don’t yet know if World War III has already begun in Ukraine. That determination will be left to future historians – if there are any.

    Even discounting the threat of nuclear Armageddon, the risk of an environmental Apocalypse is becoming increasingly serious, especially given that most of the talk about net-zero and ESG (environment, social, and governance) investing is just greenwashing – or greenwishing. The new greenflation is already in full swing, because it turns out that amassing the metals needed for the energy transition requires a lot of expensive energy.

    There is also a growing risk of new pandemics that would be worse than biblical plagues, owing to the link between environmental destruction and zoonotic diseases. Wildlife, carrying dangerous pathogens, are coming into closer and more frequent contact with humans and livestock. That is why we have experienced more frequent and virulent pandemics and epidemics (HIV, SARS, MERS, swine flu, bird flu, Zika, Ebola, COVID-19) since the early 1980s. All the evidence suggests that this problem will become even worse in the future. Indeed, owing to the melting of Siberian permafrost, we may soon be confronting dangerous viruses and bacteria that have been locked away for millennia.

    Moreover, geopolitical conflicts and national-security concerns are fueling trade, financial, and technology wars, and accelerating the deglobalization process. The return of protectionism and the Sino-American decoupling will leave the global economy, supply chains, and markets more balkanized and fragmented. The buzzwords “friend-shoring” and “secure and fair trade” have replaced “offshoring” and “free trade.”

    But on the domestic front, advances in AI, robotics, and automation will destroy more and more jobs, even if policymakers build higher protectionist walls in an effort to fight the last war. By both restricting immigration and demanding more domestic production, aging advanced economies will create a stronger incentive for companies to adopt labor-saving technologies. While routine jobs are obviously at risk, so, too, are any cognitive jobs that can be unbundled into discrete tasks, and even many creative jobs. AI language models like GPT-3 can already write better than most humans and will almost certainly displace many jobs and sources of income. In due course, some scientists believe that Homo sapiens will be rendered entirely obsolete by the rise of artificial general intelligence or machine super-intelligence – though this is a highly contentious subject of debate.

    Thus, over time, economic malaise will deepen, inequality will rise even further, and more white- and blue-collar workers will be left behind.

    Hard Choices, Hard Landings

    The macroeconomic situation is no better. For the first time since the 1970s, we are facing high inflation and the prospect of a recession – stagflation. The increased inflation in advanced economies wasn’t “transitory.” It is persistent, driven by a combination of bad policies – excessively loose monetary, fiscal, and credit policies that were kept in place for too long – and bad luck. No one could have anticipated how much the initial COVID-19 shock would curtail the supply of goods and labor and create bottlenecks in global supply chains. The same goes for Russia’s brutal invasion of Ukraine, which caused a sharp spike in energy, food, fertilizers, industrial metals, and other commodities. Meanwhile, China has continued its “zero-COVID” policy, which is creating additional supply bottlenecks.

    While both demand and supply factors were in the mix, it is now widely recognized that the supply factors have played an increasingly decisive role. This matters for the economic outlook, because supply-driven inflation is stagflationary and thus increases the risk that monetary-policy tightening will produce a hard landing (increased unemployment and potentially a recession).

    What will follow from the US Federal Reserve and other major central banks’ current tightening? Until recently, most central banks and most of Wall Street belonged to “Team Soft Landing.” But the consensus has rapidly shifted, with even Fed Chair Jerome Powell recognizing that a recession is possible, that a soft landing will be “very challenging,” and that everyone should prepare for some “pain” ahead. The Federal Reserve Bank of New York’s model shows a high probability of a hard landing, and the Bank of England has expressed similar views about the United Kingdom. Several prominent Wall Street institutions have also now made a recession their baseline scenario (the most likely outcome if all other variables are held constant).

    History, too, points to deeper problems ahead. For the past 60 years in the US, whenever inflation has been above 5% (it is above 8% today), and unemployment has been below 5% (it is now 3.5%), any attempt by the Fed to bring inflation down toward its 2% target has caused a recession. Thus, a hard landing is much more likely than a soft landing, both in the US and across most other advanced economies.

    Sticky Stagflation

    In addition to the short-term factors, negative supply shocks and demand factors in the medium term will cause inflation to persist. On the supply side, I count eleven negative supply shocks that will reduce potential growth and increase the costs of production. Among these is the backlash against hyper-globalization, which has been gaining momentum and creating opportunities for populist, nativist, and protectionist politicians, and growing public anger over stark income and wealth inequalities, which is leading to more policies to support workers and the “left behind.” However well-intentioned, such measures will contribute to a dangerous wage-price spiral.

    Other sources of persistent inflation include rising protectionism (from both the left and the right), which has restricted trade, impeded the movement of capital, and heightened political resistance to immigration, which in turn has put additional upward pressure on wages. National-security and strategic considerations have further restricted flows of technology, data, and talent, and new labor and environmental standards, as important as they may be, are hampering both trade and new construction.

    This balkanization of the global economy is deeply stagflationary, and it is coinciding with demographic aging, not just in developed countries but also in large emerging economies such as China. Because young people tend to produce and save more, whereas older people spend down their savings and require many more expensive services in health care and other sectors, this trend, too, will lead to higher prices and slower growth.

    Today’s geopolitical turmoil further complicates matters. The disruptions to trade and the spike in commodity prices following Russia’s invasion were not just a one-off phenomenon. The same threats to harvests and food shipments that arose in 2022 may well persist in 2023. Moreover, if China does finally end its zero-COVID policy and begin to restart its economy, a surge in demand for many commodities will add to the global inflationary pressures. There is also no end in sight for Sino-Western decoupling, which is accelerating across all dimensions of trade (goods, services, capital, labor, technology, data, and information). And, of course, Iran, North Korea, and other strategic rivals to the West could soon contribute in their own ways to the global havoc.

    Now that the US dollar has been fully weaponized for strategic and national-security purposes, its position as the main global reserve currency could eventually begin to decline, and a weaker dollar would of course add to inflationary pressures in the US. More broadly, a frictionless world trading system requires a frictionless financial system. But sweeping primary and secondary sanctions have thrown sand in what was once a well-oiled machine, massively increasing the transaction costs of trade.

    On top of it all, climate change, too, will create persistent stagflationary pressures. Droughts, heat waves, hurricanes, and other disasters are increasingly disrupting economic activity and threatening harvests (thus driving up food prices). At the same time, demands for decarbonization have led to underinvestment in fossil-fuel capacity before investment in renewables has reached the point where they can make up the difference. Today’s large energy-price spikes were inevitable.

    The increased likelihood of future pandemics also represents a persistent source of stagflation, especially considering how little has been done to prevent or prepare for the next one. The next contagious outbreak will lend further momentum to protectionist policies as countries rush to close borders and hoard critical supplies of food, medicines, and other essential goods.

    Finally, cyberwarfare remains an underappreciated threat to economic activity and even public safety. Firms and governments will either face more stagflationary disruptions to production, or they will have to spend a fortune on cybersecurity. Either way, costs will rise.

    The Worst of All Possible Economies

    When the recession comes, it will not be short and shallow but long and severe. Not only are we facing persistent short- and medium-term negative supply shocks, but we are also heading into the mother of all debt crises, owing to soaring private and public debt ratios over the last few decades. Low debt ratios spared us from that outcome in the 1970s. And though we certainly had debt crises following the 2008 crash – the result of excessive household, bank, and government debt – we also had deflation. It was a demand shock and a credit crunch that could be met with massive monetary, fiscal, and credit easing.

    Today, we are experiencing the worst elements of both the 1970s and 2008. Multiple, persistent negative supply shocks have coincided with debt ratios that are even higher than they were during the global financial crisis. These inflationary pressures are forcing central banks to tighten monetary policy even though we are heading into a recession. That makes the current situation fundamentally different from both the global financial crisis and the COVID-19 crisis. Everyone should be preparing for what may come to be remembered as the Great Stagflationary Debt Crisis.

    While central banks have been at pains to sound more hawkish, we should be skeptical of their professed willingness to fight inflation at any cost. Once they find themselves in a debt trap, they will have to blink. With debt ratios so high, fighting inflation will cause an economic and financial crash that will be deemed politically unacceptable. Major central banks will feel as though they have no choice but to backpedal, and inflation, the debasement of fiat currencies, boom-bust cycles, and financial crises will become even more severe and frequent.

    The inevitability of central banks wimping out was recently on display in the United Kingdom. Faced with the market reaction to the Truss government’s reckless fiscal stimulus, the BOE had to launch an emergency quantitative-easing (QE) program to buy up government bonds. That sad episode confirmed that in the UK, as in many other countries, monetary policy is increasingly subject to fiscal capture.

    Recall that a similar turnaround occurred in 2019, when the Fed, after previously signaling continued rate hikes and quantitative-tightening, stopped its QT program and started pursuing a mix of backdoor QE and policy-rate cuts at the first sign of mild financial pressures and a growth slowdown. Central banks will talk tough; but, in a world of excessive debt and risks of an economic and financial crash, there is good reason to doubt their willingness to do “whatever it takes” to return inflation to its target rate.

    With governments unable to reduce high debts and deficits by spending less or raising revenues, those that can borrow in their own currency will increasingly resort to the “inflation tax”: relying on unexpected price growth to wipe out long-term nominal liabilities at fixed interest rates.

    How will financial markets and prices of equities and bonds perform in the face of rising inflation and the return of stagflation? It is likely that, as in the stagflation of the 1970s, both components of any traditional asset portfolio will suffer, potentially incurring massive losses. Inflation is bad for bond portfolios, which will take losses as yields increase and prices fall, as well as for equities, whose valuations are hurt by rising interest rates.

    For the first time in decades, a 60/40 portfolio of equities and bonds suffered massive losses in 2022, because bond yields have surged while equities have gone into a bear market. By 1982, at the peak of the stagflation decade, the average S&P 500 firm’s price-to-earnings ratio was down to eight; today, it is closer to 20, which suggests that the bear market could end up being even more protracted and severe. Investors will need to find assets to hedge against inflation, political and geopolitical risks, and environmental damage: these include short-term government bonds and inflation-indexed bonds, gold and other precious metals, and real estate that is resilient to environmental damage.

    The Moment of Truth

    In any case, these megathreats will further contribute to rising income and wealth inequality, which has already been putting severe pressure on liberal democracies (as those left behind revolt against elites), and fueling the rise of radical and aggressive populist regimes. One can find right-wing manifestations of this trend in Russia, Turkey, Hungary, Italy, Sweden, the US (under Donald Trump), post-Brexit Britain, and many other countries; and left-wing manifestations in Argentina, Venezuela, Peru, Mexico, Colombia, Chile, and now Brazil (which has just replaced a right-wing populist with a left-wing one).

    And, of course, Xi’s authoritarian stranglehold has given the lie to the old idea that Western engagement with a fast-growing China would ineluctably lead that country to open itself up even more to markets and, eventually, to democratic processes. Under Xi, China shows every sign of becoming more closed off, and more aggressive on geopolitical, security, and economic matters.

    How did it come to this? Part of the problem is that we have long had our heads stuck in the sand. Now, we need to make up for lost time. Without decisive action, we will be heading into a period that is less like the four decades after WWII than like the three decades between 1914 and 1945. That period gave us World War I; the Spanish flu pandemic; the 1929 Wall Street crash; the Great Depression; massive trade and currency wars; inflation, hyperinflation, and deflation; financial and debt crises, leading to massive meltdowns and defaults; and the rise of authoritarian militarist regimes in Italy, Germany, Japan, Spain, and elsewhere, culminating in WWII and the Holocaust.

    In this new world, the relative peace, prosperity, and rising global welfare that we have taken for granted will be gone; most of it already is. If we don’t stop the multi-track slow-motion train wreck that is threatening the global economy and our planet at large, we will be lucky to have only a repeat of the stagflationary 1970s. Far more likely is an echo of the 1930s and the 1940s, only now with all the massive disruptions from climate change added to the mix.

    Avoiding a dystopian scenario will not be easy. While there are potential solutions to each megathreat, most are costly in the short run and will deliver benefits only over the long run. Many also require technological innovations that are not yet available or in place, starting with those needed to halt or reverse climate change. Complicating matters further, today’s megathreats are interconnected, and therefore best addressed in a systematic and coherent fashion. Domestic leadership, in both the private and public sector, and international cooperation among great powers is necessary to prevent the coming Apocalypse.

    Yet there are many domestic and international obstacles standing in the way of policies that would allow for a less dystopian (though still contested and conflictual) future. Thus, while a less bleak scenario is obviously desirable, a clear-headed analysis indicates that dystopia is much more likely than a happier outcome. The years and decades ahead will be marked by a stagflationary debt crisis and related megathreats – war, pandemics, climate change, disruptive AI, and deglobalization – all of which will be bad for jobs, economies, markets, peace, and prosperity.
    The Age of Megathreats Nouriel RoubiniNov 4, 2022 op_roubini3_Getty Images_worlddisaster Getty Images NEW YORK – Severe megathreats are imperiling our future – not just our jobs, incomes, wealth, and the global economy, but also the relative peace, prosperity, and progress achieved over the past 75 years. Many of these threats were not even on our radar during the prosperous post-World War II era. I grew up in the Middle East and Europe from the late 1950s to the early 1980s, and I never worried about climate change potentially destroying the planet. Most of us had barely even heard of the problem, and greenhouse-gas emissions were still relatively low, compared to where they would soon be. Moreover, after the US-Soviet détente and US President Richard Nixon’s visit to China in the early 1970s, I never really worried about another war among great powers, let alone a nuclear one. The term “pandemic” didn’t register in my consciousness, either, because the last major one had been in 1918. And I didn’t fathom that artificial intelligence might someday destroy most jobs and render Homo sapiens obsolete, because those were the years of the long “AI winter.” Similarly, terms like “deglobalization” and “trade war” had no purchase during this period. Trade liberalization had been in full swing since the Great Depression, and it would soon lead to the hyper-globalization that began in the 1990s. Debt crises posed no threat, because private and public debt-to-GDP ratios were low in advanced economies and emerging markets, and growth was robust. No one had to worry about the massive build-up of implicit debt, in the form of unfunded liabilities from pay-as-you-go social security and health-care systems. The supply of young workers was rising, the share of the elderly was still low, and robust, mostly unrestricted immigration from the Global South to the North would continue to prop up the labor market in advanced economies. Against this backdrop, economic cycles were contained, and recessions were short and shallow, except for during the stagflationary decade of the 1970s; but even then, there were no debt crises in advanced economies, because debt ratios were low. The kind of financial cycles that lead to crises were contained not just in advanced economies but even in emerging markets, owing to the low leverage, low risk-taking, solid financial regulation, capital controls, and various forms of financial repression that prevailed during this period. The advanced economies were strong liberal democracies that were free of extreme partisan polarization. Populism and authoritarianism were confined to a benighted cohort of poorer countries. Goodbye to All That Fast-forward from this relatively “golden” period between 1945 and 1985 to late 2022, and you will immediately notice that we are awash in new, extreme megathreats that were not previously on anyone’s mind. The world has entered what I call a geopolitical depression, with (at least) four dangerous revisionist powers – China, Russia, Iran, and North Korea – challenging the economic, financial, security, and geopolitical order that the United States and its allies created after WWII. There is a sharply rising risk not only of war among great powers but of a nuclear conflict. In the coming year, Russia’s war of aggression in Ukraine could escalate into an unconventional conflict that directly involves NATO. And Israel – and perhaps the US – may decide to launch strikes against Iran, which is on its way to building a nuclear bomb. Subscribe to PS Digital now to read all the latest insights from Nouriel Roubini. Digital subscribers enjoy access to every PS commentary, including those by Nouriel Roubini, plus our entire On Point suite of subscriber-exclusive content, including Longer Reads, Insider Interviews, Big Picture/Big Question, and Say More. For a limited time, save $15 with the code ROUBINI15. Subscribe Now With Chinese President Xi Jinping further consolidating his authoritarian rule, and with the US tightening its trade restrictions against China, the new Sino-American cold war is getting colder by the day. Worse, it could all too easily turn hot over the status of Taiwan, which Xi is committed to reuniting with the mainland, and which US President Joe Biden is apparently committed to defending. Meanwhile, nuclear-armed North Korea has once again been seeking attention by firing rockets over Japan and South Korea. Cyberwarfare occurs daily between these revisionist powers and the West, and many other countries have adopted a non-aligned posture toward Western-led sanctions regimes. From our contingent vantage point in the middle of all these events, we don’t yet know if World War III has already begun in Ukraine. That determination will be left to future historians – if there are any. Even discounting the threat of nuclear Armageddon, the risk of an environmental Apocalypse is becoming increasingly serious, especially given that most of the talk about net-zero and ESG (environment, social, and governance) investing is just greenwashing – or greenwishing. The new greenflation is already in full swing, because it turns out that amassing the metals needed for the energy transition requires a lot of expensive energy. There is also a growing risk of new pandemics that would be worse than biblical plagues, owing to the link between environmental destruction and zoonotic diseases. Wildlife, carrying dangerous pathogens, are coming into closer and more frequent contact with humans and livestock. That is why we have experienced more frequent and virulent pandemics and epidemics (HIV, SARS, MERS, swine flu, bird flu, Zika, Ebola, COVID-19) since the early 1980s. All the evidence suggests that this problem will become even worse in the future. Indeed, owing to the melting of Siberian permafrost, we may soon be confronting dangerous viruses and bacteria that have been locked away for millennia. Moreover, geopolitical conflicts and national-security concerns are fueling trade, financial, and technology wars, and accelerating the deglobalization process. The return of protectionism and the Sino-American decoupling will leave the global economy, supply chains, and markets more balkanized and fragmented. The buzzwords “friend-shoring” and “secure and fair trade” have replaced “offshoring” and “free trade.” But on the domestic front, advances in AI, robotics, and automation will destroy more and more jobs, even if policymakers build higher protectionist walls in an effort to fight the last war. By both restricting immigration and demanding more domestic production, aging advanced economies will create a stronger incentive for companies to adopt labor-saving technologies. While routine jobs are obviously at risk, so, too, are any cognitive jobs that can be unbundled into discrete tasks, and even many creative jobs. AI language models like GPT-3 can already write better than most humans and will almost certainly displace many jobs and sources of income. In due course, some scientists believe that Homo sapiens will be rendered entirely obsolete by the rise of artificial general intelligence or machine super-intelligence – though this is a highly contentious subject of debate. Thus, over time, economic malaise will deepen, inequality will rise even further, and more white- and blue-collar workers will be left behind. Hard Choices, Hard Landings The macroeconomic situation is no better. For the first time since the 1970s, we are facing high inflation and the prospect of a recession – stagflation. The increased inflation in advanced economies wasn’t “transitory.” It is persistent, driven by a combination of bad policies – excessively loose monetary, fiscal, and credit policies that were kept in place for too long – and bad luck. No one could have anticipated how much the initial COVID-19 shock would curtail the supply of goods and labor and create bottlenecks in global supply chains. The same goes for Russia’s brutal invasion of Ukraine, which caused a sharp spike in energy, food, fertilizers, industrial metals, and other commodities. Meanwhile, China has continued its “zero-COVID” policy, which is creating additional supply bottlenecks. While both demand and supply factors were in the mix, it is now widely recognized that the supply factors have played an increasingly decisive role. This matters for the economic outlook, because supply-driven inflation is stagflationary and thus increases the risk that monetary-policy tightening will produce a hard landing (increased unemployment and potentially a recession). What will follow from the US Federal Reserve and other major central banks’ current tightening? Until recently, most central banks and most of Wall Street belonged to “Team Soft Landing.” But the consensus has rapidly shifted, with even Fed Chair Jerome Powell recognizing that a recession is possible, that a soft landing will be “very challenging,” and that everyone should prepare for some “pain” ahead. The Federal Reserve Bank of New York’s model shows a high probability of a hard landing, and the Bank of England has expressed similar views about the United Kingdom. Several prominent Wall Street institutions have also now made a recession their baseline scenario (the most likely outcome if all other variables are held constant). History, too, points to deeper problems ahead. For the past 60 years in the US, whenever inflation has been above 5% (it is above 8% today), and unemployment has been below 5% (it is now 3.5%), any attempt by the Fed to bring inflation down toward its 2% target has caused a recession. Thus, a hard landing is much more likely than a soft landing, both in the US and across most other advanced economies. Sticky Stagflation In addition to the short-term factors, negative supply shocks and demand factors in the medium term will cause inflation to persist. On the supply side, I count eleven negative supply shocks that will reduce potential growth and increase the costs of production. Among these is the backlash against hyper-globalization, which has been gaining momentum and creating opportunities for populist, nativist, and protectionist politicians, and growing public anger over stark income and wealth inequalities, which is leading to more policies to support workers and the “left behind.” However well-intentioned, such measures will contribute to a dangerous wage-price spiral. Other sources of persistent inflation include rising protectionism (from both the left and the right), which has restricted trade, impeded the movement of capital, and heightened political resistance to immigration, which in turn has put additional upward pressure on wages. National-security and strategic considerations have further restricted flows of technology, data, and talent, and new labor and environmental standards, as important as they may be, are hampering both trade and new construction. This balkanization of the global economy is deeply stagflationary, and it is coinciding with demographic aging, not just in developed countries but also in large emerging economies such as China. Because young people tend to produce and save more, whereas older people spend down their savings and require many more expensive services in health care and other sectors, this trend, too, will lead to higher prices and slower growth. Today’s geopolitical turmoil further complicates matters. The disruptions to trade and the spike in commodity prices following Russia’s invasion were not just a one-off phenomenon. The same threats to harvests and food shipments that arose in 2022 may well persist in 2023. Moreover, if China does finally end its zero-COVID policy and begin to restart its economy, a surge in demand for many commodities will add to the global inflationary pressures. There is also no end in sight for Sino-Western decoupling, which is accelerating across all dimensions of trade (goods, services, capital, labor, technology, data, and information). And, of course, Iran, North Korea, and other strategic rivals to the West could soon contribute in their own ways to the global havoc. Now that the US dollar has been fully weaponized for strategic and national-security purposes, its position as the main global reserve currency could eventually begin to decline, and a weaker dollar would of course add to inflationary pressures in the US. More broadly, a frictionless world trading system requires a frictionless financial system. But sweeping primary and secondary sanctions have thrown sand in what was once a well-oiled machine, massively increasing the transaction costs of trade. On top of it all, climate change, too, will create persistent stagflationary pressures. Droughts, heat waves, hurricanes, and other disasters are increasingly disrupting economic activity and threatening harvests (thus driving up food prices). At the same time, demands for decarbonization have led to underinvestment in fossil-fuel capacity before investment in renewables has reached the point where they can make up the difference. Today’s large energy-price spikes were inevitable. The increased likelihood of future pandemics also represents a persistent source of stagflation, especially considering how little has been done to prevent or prepare for the next one. The next contagious outbreak will lend further momentum to protectionist policies as countries rush to close borders and hoard critical supplies of food, medicines, and other essential goods. Finally, cyberwarfare remains an underappreciated threat to economic activity and even public safety. Firms and governments will either face more stagflationary disruptions to production, or they will have to spend a fortune on cybersecurity. Either way, costs will rise. The Worst of All Possible Economies When the recession comes, it will not be short and shallow but long and severe. Not only are we facing persistent short- and medium-term negative supply shocks, but we are also heading into the mother of all debt crises, owing to soaring private and public debt ratios over the last few decades. Low debt ratios spared us from that outcome in the 1970s. And though we certainly had debt crises following the 2008 crash – the result of excessive household, bank, and government debt – we also had deflation. It was a demand shock and a credit crunch that could be met with massive monetary, fiscal, and credit easing. Today, we are experiencing the worst elements of both the 1970s and 2008. Multiple, persistent negative supply shocks have coincided with debt ratios that are even higher than they were during the global financial crisis. These inflationary pressures are forcing central banks to tighten monetary policy even though we are heading into a recession. That makes the current situation fundamentally different from both the global financial crisis and the COVID-19 crisis. Everyone should be preparing for what may come to be remembered as the Great Stagflationary Debt Crisis. While central banks have been at pains to sound more hawkish, we should be skeptical of their professed willingness to fight inflation at any cost. Once they find themselves in a debt trap, they will have to blink. With debt ratios so high, fighting inflation will cause an economic and financial crash that will be deemed politically unacceptable. Major central banks will feel as though they have no choice but to backpedal, and inflation, the debasement of fiat currencies, boom-bust cycles, and financial crises will become even more severe and frequent. The inevitability of central banks wimping out was recently on display in the United Kingdom. Faced with the market reaction to the Truss government’s reckless fiscal stimulus, the BOE had to launch an emergency quantitative-easing (QE) program to buy up government bonds. That sad episode confirmed that in the UK, as in many other countries, monetary policy is increasingly subject to fiscal capture. Recall that a similar turnaround occurred in 2019, when the Fed, after previously signaling continued rate hikes and quantitative-tightening, stopped its QT program and started pursuing a mix of backdoor QE and policy-rate cuts at the first sign of mild financial pressures and a growth slowdown. Central banks will talk tough; but, in a world of excessive debt and risks of an economic and financial crash, there is good reason to doubt their willingness to do “whatever it takes” to return inflation to its target rate. With governments unable to reduce high debts and deficits by spending less or raising revenues, those that can borrow in their own currency will increasingly resort to the “inflation tax”: relying on unexpected price growth to wipe out long-term nominal liabilities at fixed interest rates. How will financial markets and prices of equities and bonds perform in the face of rising inflation and the return of stagflation? It is likely that, as in the stagflation of the 1970s, both components of any traditional asset portfolio will suffer, potentially incurring massive losses. Inflation is bad for bond portfolios, which will take losses as yields increase and prices fall, as well as for equities, whose valuations are hurt by rising interest rates. For the first time in decades, a 60/40 portfolio of equities and bonds suffered massive losses in 2022, because bond yields have surged while equities have gone into a bear market. By 1982, at the peak of the stagflation decade, the average S&P 500 firm’s price-to-earnings ratio was down to eight; today, it is closer to 20, which suggests that the bear market could end up being even more protracted and severe. Investors will need to find assets to hedge against inflation, political and geopolitical risks, and environmental damage: these include short-term government bonds and inflation-indexed bonds, gold and other precious metals, and real estate that is resilient to environmental damage. The Moment of Truth In any case, these megathreats will further contribute to rising income and wealth inequality, which has already been putting severe pressure on liberal democracies (as those left behind revolt against elites), and fueling the rise of radical and aggressive populist regimes. One can find right-wing manifestations of this trend in Russia, Turkey, Hungary, Italy, Sweden, the US (under Donald Trump), post-Brexit Britain, and many other countries; and left-wing manifestations in Argentina, Venezuela, Peru, Mexico, Colombia, Chile, and now Brazil (which has just replaced a right-wing populist with a left-wing one). And, of course, Xi’s authoritarian stranglehold has given the lie to the old idea that Western engagement with a fast-growing China would ineluctably lead that country to open itself up even more to markets and, eventually, to democratic processes. Under Xi, China shows every sign of becoming more closed off, and more aggressive on geopolitical, security, and economic matters. How did it come to this? Part of the problem is that we have long had our heads stuck in the sand. Now, we need to make up for lost time. Without decisive action, we will be heading into a period that is less like the four decades after WWII than like the three decades between 1914 and 1945. That period gave us World War I; the Spanish flu pandemic; the 1929 Wall Street crash; the Great Depression; massive trade and currency wars; inflation, hyperinflation, and deflation; financial and debt crises, leading to massive meltdowns and defaults; and the rise of authoritarian militarist regimes in Italy, Germany, Japan, Spain, and elsewhere, culminating in WWII and the Holocaust. In this new world, the relative peace, prosperity, and rising global welfare that we have taken for granted will be gone; most of it already is. If we don’t stop the multi-track slow-motion train wreck that is threatening the global economy and our planet at large, we will be lucky to have only a repeat of the stagflationary 1970s. Far more likely is an echo of the 1930s and the 1940s, only now with all the massive disruptions from climate change added to the mix. Avoiding a dystopian scenario will not be easy. While there are potential solutions to each megathreat, most are costly in the short run and will deliver benefits only over the long run. Many also require technological innovations that are not yet available or in place, starting with those needed to halt or reverse climate change. Complicating matters further, today’s megathreats are interconnected, and therefore best addressed in a systematic and coherent fashion. Domestic leadership, in both the private and public sector, and international cooperation among great powers is necessary to prevent the coming Apocalypse. Yet there are many domestic and international obstacles standing in the way of policies that would allow for a less dystopian (though still contested and conflictual) future. Thus, while a less bleak scenario is obviously desirable, a clear-headed analysis indicates that dystopia is much more likely than a happier outcome. The years and decades ahead will be marked by a stagflationary debt crisis and related megathreats – war, pandemics, climate change, disruptive AI, and deglobalization – all of which will be bad for jobs, economies, markets, peace, and prosperity.
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    WWW.ACTIVISTPOST.COM
    The Interest Rate Shock Will Blow Up the Government’s Ponzi Game - Activist Post
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