DC Mayor Muriel Bowser Partied Maskless Mere Hours Before New Mandate Took Effect


rollcallpix135859

When Washington, D.C. Mayor Muriel Bowser announced on Thursday that she would reimpose a citywide indoor mask mandate beginning on Saturday at 5:00 a.m., some people wondered what the wait was for. (Many others wondered why the mandate was necessary at all, given that deaths and hospitalizations have both been in the single digits in recent weeks.)

Well, it appears that someone had a birthday to celebrate on Friday.

Social media sleuths have discovered pictures of the mayor and her friends partying without masks in a seemingly well-ventilated though partly indoor space. This was not a small, intimate gathering, either: Comedian Dave Chappelle even made an appearance. Bowser turns 49 on Tuesday.

The mayor’s office did not respond to requests for comment from media outlets. Technically, Bowser didn’t break the rules—the new mask mandate had not gone into effect yet—and as long as everyone was vaccinated, this kind of gathering is quite safe. But this is still rank hypocrisy. At the same time that Bowser was partying maskless with celebrities, her Twitter feed was imploring people to “mask up” more generally.

Whether or not Bowser deliberately delayed the mask mandate until a few hours after her party had wrapped up, this is bad behavior from a public official. There are a great many vaccinated people in D.C. who would like to celebrate their birthdays this month (disclaimer: I’m one of them), but if they party in public, in many circumstances they will need to wear masks to comply with the mayor’s decree. No, this isn’t the greatest burden in the world—but it is a needless burden. Despite the recent paranoia about the delta strain of COVID-19, the vaccines are holding up remarkably well at preventing severe disease and death.

Throughout the pandemic, politicians and bureaucrats have asked the citizens to make tremendous sacrifices. But time and time again, they have shown us that they are not willing to do the same. The people are expected to mask up and stay six feet apart, but our government leaders? Well, you only turn 49 once.

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“They Just Appeared One Day”: Detroit Is Importing Millions Of Honey Bees

“They Just Appeared One Day”: Detroit Is Importing Millions Of Honey Bees

While most of the focus on Detroit generally boils down to how many vehicles it is exporting elsewhere, it’s what the city is importing now that is turning heads.

Detroit has imported about 12 million honey bees to the metro Detroit area over the last five years, the Wall Street Journal reported this week. The bees are part of an effort by a non-profit (called ‘Bees in the D’) to help urban farms that offer residents produce, the report says.

Detroit resident Don Carter said: “There are so many empty fields, it can’t do anything but help add some color to all the green, grassy lots.”

And of course, there’s pushback from environmentalists, who are accusing the non-profit of being mean to the local bees which “might not make honey but can hold their own as pollinators,” the report says. The newcomer bees might add competition and spread disease, environmentalists claim. 

Some local residents aren’t amused, either. 46 year old Damon Currie lives near where about 360,000 bees were placed in 2019 and was stung with his 8 year old son last summer. 

He told the WSJ: “I started waving off the bees that were around him and I got stung too. I had never been stung before that in my life.”

“They couldn’t knock on the door and tell us about it? The hives just appeared one day. We’ll just be sitting on the porch talking, laughing, and the bees will come at us and ruin it. Take those hives somewhere else.”

The founder of the non-profit, Brian Peterson-Roest, says he tells people close to the new hives but isn’t able to reach everyone in a specific area. “I was in a real low in my life when the bees came my way and brought new purpose to me,” he said.

Sheila Colla, an associate professor of environmental studies at York University in Toronto whose research focuses on the conservation of pollinators and who is familiar with the Michigan-area ecosystem, told the Journal: “Honey bees are so different from our native bees. The bees that are at risk of extinction are ones you can’t order by the millions.”

Annie Hakim, co-owner of Featherstone Garden, said of the bees: “I feel very fortunate to have them”. 

‘Bees in the D’ is expected to open a $1.1 million botanical garden that will house about 300,000 bees in Spring 2022. He has struck deals for the bees to live on properties of local farms and even on the properties of some General Motors facilities. 

Tyler Durden
Sat, 07/31/2021 – 19:30

via ZeroHedge News https://ift.tt/3zUiQ0S Tyler Durden

DC Mayor Muriel Bowser Partied Maskless Mere Hours Before New Mandate Took Effect


rollcallpix135859

When Washington, D.C. Mayor Muriel Bowser announced on Thursday that she would reimpose a citywide indoor mask mandate beginning on Saturday at 5:00 a.m., some people wondered what the wait was for. (Many others wondered why the mandate was necessary at all, given that deaths and hospitalizations have both been in the single digits in recent weeks.)

Well, it appears that someone had a birthday to celebrate on Friday.

Social media sleuths have discovered pictures of the mayor and her friends partying without masks in a seemingly well-ventilated though partly indoor space. This was not a small, intimate gathering, either: Comedian Dave Chappelle even made an appearance. Bowser turns 49 on Tuesday.

The mayor’s office did not respond to requests for comment from media outlets. Technically, Bowser didn’t break the rules—the new mask mandate had not gone into effect yet—and as long as everyone was vaccinated, this kind of gathering is quite safe. But this is still rank hypocrisy. At the same time that Bowser was partying maskless with celebrities, her Twitter feed was imploring people to “mask up” more generally.

Whether or not Bowser deliberately delayed the mask mandate until a few hours after her party had wrapped up, this is bad behavior from a public official. There are a great many vaccinated people in D.C. who would like to celebrate their birthdays this month (disclaimer: I’m one of them), but if they party in public, in many circumstances they will need to wear masks to comply with the mayor’s decree. No, this isn’t the greatest burden in the world—but it is a needless burden. Despite the recent paranoia about the delta strain of COVID-19, the vaccines are holding up remarkably well at preventing severe disease and death.

Throughout the pandemic, politicians and bureaucrats have asked the citizens to make tremendous sacrifices. But time and time again, they have shown us that they are not willing to do the same. The people are expected to mask up and stay six feet apart, but our government leaders? Well, you only turn 49 once.

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One Lockdown From Disaster

One Lockdown From Disaster

Authored by MN Gordon via EconomicPrism.com,

The popular economic tune being played by the popular press drones on.  You know the melody by now…

That the post-pandemic boom is alive and well.  That growth is enduring.  That blue skies are here to stay.

If you listen closely, however, several notes ring sour.

The Commerce Department reported on Thursday that second quarter gross domestic product (GDP) increased at an annualized rate of 6.5 percent.  This may sound good, initially.  But economists with Dow Jones had estimated an 8.4 percent Q2 GDP increase.  Once again, extreme fiscal stimulus, at the expense of a long term debt burden, drifted off key.

The monetary policy refrain was also lacking.  This week, at the Federal Open Market Committee meeting press conference, Fed Chair Jay Powell remarked that, “we’re some way away from having had substantial further progress toward the maximum employment goal.”

Thus the Fed will continue to hold the federal funds rate near zero and will continue creating credit from thin air at a rate of $120 billion per month to purchase Treasuries and mortgage backed securities in the amounts of $80 billion and $40 billion, respectively.  By now these damaging actions have become exceedingly mindless.  The aim for maximum employment will ultimately prove to be a shortsighted calamity.

If the economy was really strengthening, the Fed would be tapering back these security purchases and even normalizing its balance sheet.  At the very least, it would be talking about tapering.

But the economy’s not really strengthening at all.  Rather, the economy and financial markets, handicapped by extreme intervention, are entirely dependent on this monetary stimulus.

And there’s no easy way out…

Woke and Enlightened

The Fed’s predicament tightens by the day.  Take away the monetary crutches and the Fed risks a catastrophic financial meltdown.  Yet keep them in place for too long and the Fed risks a significant dollar devaluation.  These, no doubt, are the disagreeable options that remain following decades of the Fed’s erudite handiwork.

The promise of planning the economy via monetary policy, like the promise of gun control or mandatory mask mandates, is a farce.  The body of empirical evidence – the science – shows that monetary policy fails to smooth out the ups and downs of the business cycle.  Moreover, by intervening in credit markets, the Fed actually intensifies the booms and busts.

Still, central planning via the Fed is not the only madness one must contend with.  There’s a whole army of planners in Congress and dispersed throughout the government’s countless agencies and bureaucracies working overtime to steal your wealth and freedom.

Today’s central planners and social engineers are especially special.  They’re woke…and progressive.

They slog away in home offices with central air conditioning, as they swig chilled seltzers and munch on fresh, refrigerated grapes.  Their privilege is both sweet and juicy.

Yet all the while, they bemoan the cruelty of unequal outcomes.

“Why can’t others get paid by the government to munch on grapes from home too?” they ask.

These wokesters jump from one zoom call to the next, figuring new legislation to redirect the flow of money to somehow make society more equitable.

You see, equality under the law is not good enough.  Charges of systemic racism and white privilege must be overcome with government directed outcomes that are, somehow, morally equitable.

Partiality centered on an extreme fixation upon micro gradations of skin color is the great cause of the woke and enlightened.

One Lockdown from Disaster

Implicit to the planner’s toils, is a shared sense that they know how to spend your money better than you.  At best, the central planners call your money to Washington so they can then distribute it back to your friends and neighbors.  In reality, the lawmakers call your money to Washington where they distribute it to their friends and neighbors – not yours.

This is not a matter of opinion.  It’s a matter of fact.  Could it really be a coincidence that the top three wealthiest counties in the country are in the shadow of the Capitol in the D.C. suburbs?

What it is exactly that the residents of these counties do that’s of tangible value is unclear.  However, what is clear is that phony government jobs in Loudoun County, Falls Church, and Fairfax County, Virginia, pay big bucks.

This week a bipartisan group of senators reached an agreement to advance a $1.2 trillion infrastructure bill, of which $550 billion is in new spending.  The rest of the package uses previously approved spending, though we can’t tell if this is for infrastructure or something else.

Regardless, this government-directed stimulus will further the economy’s dependence on federal spending.  Workers will base their livelihoods on these projects.  Many will be boondoggles.  Some may provide useful assets.  They will all contribute to an economy that’s ultimately doomed, where debt well outpaces GDP.

But wait, there’s more…

Navigating its way through Congress after the infrastructure bill is the $3.5 trillion budget reconciliation plan, which focuses on something called ‘human infrastructure.’  This plan is slated to include complete giveaways for health care, paid family leave, education and climate change, among other things.

Make of it what you will.  Physical infrastructure.  Human infrastructure.  Debt.  Deficits.  Nonstop money printing.  Price inflation.  Woke central planners.  Economic stagnation.  Delta variant.  Perpetual dependency.

If that’s not enough, with each passing day it appears more and more likely the CDC will goad the Biden administration into another lockdown.  And at this point, we may just be one lockdown from disaster.

Tyler Durden
Sat, 07/31/2021 – 19:00

via ZeroHedge News https://ift.tt/2V8xGlG Tyler Durden

Need A Divorce? There’s An App For That, And They Just Raised $2 Million

Need A Divorce? There’s An App For That, And They Just Raised $2 Million

750,000 divorces happen, on average, every year in the U.S.

While some call that a shame, others see it as a total addressable market. Take, for example, online divorce startup Hello Divorce. They have just raised $2 million to help couples streamline to the inevitable: splitting up. The company provides a combination of software and legal services that start at $99 and average at about $2,000. 

The company’s seed rounding of funding was “led by CEAS, with additional funds coming from Lightbank, Northwestern Mutual Future Ventures, Gaingels and a group of individuals including Clio CEO Jack Newton, WRG’s Lisa Stone and Equity ESQ led by Ed Diab,” according to TechCrunch

The total cost of divorce is, on average, between $8,400 and $17,500. The industry as a whole is valued around $50 billion per annum, the report notes. 

The company was started in 2018 by family law attorney Erin Levine, who called billable hours for divorce an “antiquated process”. It currently is available in just four states: California, Colorado, Texas and Utah.

She told TechCrunch: “Right now, lawyers are the keeper of information, and clients keep paying until the divorce is done. Divorce is more than forms. It is a challenging time, and most people need or want support. I saw a big hole there to use technology and fixed fees to put couples in the driver’s seat and take down that level of conflict.”

The company says that most people spend 2 to 5 years thinking about divorce and that 80% of them won’t have access to counsel. 

The company’s plan is to use the funding for “rapidly scaling legal filing options across the U.S., improving its ground-breaking product, and giving consumers more of the content and services”. It is already operating at a profit and will use the cash to scale to places like New York and Florida. 

Levine says the company had 2,000 inquiries into divorce over the last year, thanks to the pandemic forcing couples to actually stay in each others’ company: “The inquiries increased about staying or going, and what divorce will look like. It will be awhile before we see the total effects of what divorce looks like following the pandemic.”

Lightbank’s Eric Ong concluded: “They are a combination of industry expertise and thinking outside of the box. Eighty percent of people are still not getting meaningful representation, and we looked for technology that would provide a customer value proposition and we didn’t find one until Hello Divorce.”

Tyler Durden
Sat, 07/31/2021 – 18:30

via ZeroHedge News https://ift.tt/3C1XZKZ Tyler Durden

Goldman Flow Desk Weekly Recap

Goldman Flow Desk Weekly Recap

By Goldman’s Michael Nocerino, flow trader and vice president of multi-asset platform sales

GS Post Bell

Quick Look…Best performers on the Week…

The Worst…

*DESK ACTIVITY…Markets ending the month in the red after a lackluster session dictated by the AMZN sales miss after the close yday and additional delta variant headlines hitting the tape. Albeit we are just a hair off ATH’s and despite ending in negative territory, all three indices ended July higher and it marks the 6th consecutive monthly gain for the S&P. According to Stat News’ Covid dashboard, the U.S.’ 7-day moving average for cases as of yesterday reached the highest number since April 19 and has been steadily increasing for the past month. Another pain point this week was the weakness in Chinese stocks as Beijing continues their crackdown on tech companies – KWEB capped off their worst 2 week performance since inceptive and FXI suffered worst month since Sept. 2011. We finished up the busiest earnings week in the history of the SPX (51% of the index reported) and solid prints continue to be unrewarded – another round of prints next week (12% of SPX). Have a great weekend.

*US DESK FLOWS…The desk finished the day with HF skewed better for sale 1.07x while LO skewed better to buy 1.13x. We were significantly active in info tech, and consumer discretionary names. In terms factors, we net bought value, and we net sold growth.

*ACROSS THE POND…Flows on the desk today ended up c.1.1x better for Sale. LOs were our most active group, amounting for the majority (c.50%) of flow actually skewed (c.1.1x) to buy. HFs kept their activity relatively high (c.30% of total flow) with a (c.1.2x) sell skew. Sector-wise, we saw net demand for Discretionary, Energy and Real Estate vs supply for Industrials and Financials.

*THEMES OF THE WEEK…China Crackdown…Delta Variant…Earnings…TMT Pain…Inflows and August Flows…Seasonals Shift…

CHINA…More headlines hitting today: U.S. SECURITIES AND EXCHANGE COMMISSION CHAIR GARY GENSLER SAYS HAS ASKED STAFF TO SEEK CERTAIN DISCLOSURES FROM OFFSHORE ISSUERS ASSOCIATED WITH CHINA-BASED OPERATING COMPANIES…SEC CHAIR GENSLER SAYS NEW DISCLOSURES WILL BE REQUIRED FOR CHINESE COMPANIES BEFORE REGISTRATION STATEMENTS DECLARED EFFECTIVE

XI…Has stabilized…for now…


(Source: Bloomberg as of 07/30/21)

DELTA VARIANT…*MORE THAN 110,000 VACCINE BREAKTHROUGH CASES IDENTIFIED IN U.S.: BBG…110K break through cases / 164M vaccinated = 0.0671% infection rate among fully vaccinated…

Global Health Basket (GSXUPAND)…continues to fade…sitting right on the 200dma of 137.22…


(Source: Bloomberg as of 07/30/21)

-Q2 EARNINGS…This week was the busiest earnings week in the history of the U.S. stock market with 51% of S&P’s cap reporting. Next week the action slows significantly with just 12% of cap reporting. We are STILL seeing the highest percentage (74%) of companies beat street wide earnings ests (by >1SD) in the 20+ years that we have tracked this data (well ahead Q121 which was previous best at 61%) . Very few (4%) companies are missing. However, beats are NOT being rewarded and the few misses we have seen are being punished. I will be keeping a close eye on AMZN today already down 7% pre mkt (clearly should weigh on overall mkt sentiment especially after FB closed down 4% yesterday).

-296 S&P500 companies have reported 2Q results (76% of total market cap). So far 74% of companies reporting have beat street wide earnings estimates by >1SD (significantly higher than 46% historical avg) whereas only 4% have missed estimates by >1SD (significantly lower than historical avg of 14%).

Firms beating earnings ests by at least 1SD have only outperformed the S&P 500 by 31bps on the trading session directly after reporting (vs a historical avg of +103bps of outperformance). Companies missing earnings ests by at least 1 SD have underperformed the S&P 500 by -224bps, which is worse than historical avg of -211bps of underperformance.


(Source = GIR as of 7/30/21 Snider, Hammond) – ty Snider / Hammond

TMT (Callahan)…‘Where does Tech’ go from here? … a bit of a buzz / debate around the risk of Tech losing its leadership as soggy T+1 price action for the ‘FAAMG’ group (.. nothing new .. ) and NDX -75bps today leave the group without a catalyst & fresh off a torrid stretch (up ~20% in 6-wks) … to balance that nervous energy, it is worth noting that the backdrop should still prove supportive for ‘Big Tech’ (low rates, hybrid WFH/re-opening, moderating US growth, big cash balances, etc), though likely more ‘intra-FAAMG’ rotations and stock selections. To level-set on YTD moves: GOOGL +55%, FB +31% (vs EPS revisions up ~25% YTD), MSFT +29%, AAPL +10%, AMZN +5%. More TMT earnings to come Monday…

-WFH Theme as a theme has NOT aged well during earnings – AMZN, NFLX, CTXS to name a few .. next week, watch Video Games (px action today = indicative of positioning / what’s priced in?), streaming names (FSLY, AKAM, etc) and E-Commerce .. keep an eye on: GSTMTWFH / GSXUSTAY Index.

GSXUSTAY Index…Stalling at the top here…

-INFLOWS CONTINUE (Rubner)…This week (week 30) global equities logged +$23.233 Billion worth of inflows ~ right in line with the YTD run rate. In 2021, there has been +$636.30 Billion YTD inflow into global equity funds, +$518 Billion inflows or 82% passively and +$118 Billion inflows or 18% passively. Global Equity inflows are annualizing +$1.10 Trillion for 2021. This is not small and on pace for the largest annual inflow on record by 2.5x. There have been 143 US trading days this year, which means daily equity flows of +$4.443 billion inflows everyday “buying dip alpha” or $21.21 Billion per week.

-BUT OUTFLOWS IN AUGUST? Over the last 30 years, money flows change in August. I expect this year to be no different. August typically sees the largest outflow of the year. Even if there are no outflows, but the inflows stop, this will change the #BTD dynamic in the market. Detailed analysis below. Its vacation time now that earnings (which were faded) are behind us. Stay nimble in August, I am focusing on liquidity.

-SEASONALS SHIFT…We are coming out of one of the strongest periods of the year and heading into one of the worst – no surprise given the historical outflow dynamic. This runs us right into Jackson Hole.

-CRYPTO been catching a bit of a bid into and post the US equity close. Since 15:45 NYC time, XBT has rallied almost 6%. Not sure if this is noise or signal but something to keep an eye on.

*NOTES IN CASE YOU MISSED…After Peak Growth: A Slightly Slower Service Sector Recovery (Walker) – Until a couple of months ago, GIR’s GDP growth forecast had been distinguished for the prior year by being well above consensus expectations, reflecting their optimistic view of the prospects for an early vaccination timeline and a strong economic recovery. But at this point, their forecast is instead distinguished from consensus expectations by the sharpness of the deceleration that they expect over the next year and a half, from 8.25%/8.5% during the Q2/Q3 mid-year boom all the way down to a trend-like 1.5-2% by 2022H2 (Exhibit Below).

After GDP Growth Peaks in Mid-2021, GIR Expects a Sharper Deceleration Than Consensus to a Trend-Like 1.5-2% in 2022H2

Corresponding to the downgrade to their growth forecast, they have also bumped up their unemployment rate forecast slightly from 4.2% to 4.4% at end-2021. GIR expects to learn considerably more about the prospects for labor market recovery from the July employment report, which should provide a test of the impact of seasonal adjustment irregularities and the early expiration of federal unemployment benefits in some states.

Tyler Durden
Sat, 07/31/2021 – 18:00

via ZeroHedge News https://ift.tt/3rJk6B0 Tyler Durden

Want To Top Tick Used Car Market? Now Could Be The Time To Sell 

Want To Top Tick Used Car Market? Now Could Be The Time To Sell 

Goldman Sachs chief economist Jan Hatzius told clients Wednesday, “used car prices probably peaked in June based on declines in auction prices.” 

Hatzius explains the stimulus-driven surge in demand and semiconductor shortages resulted in a drawdown in inventories and a massive jump in prices for new and used cars over the last year. 

New car inventories are expected to begin recovering in September after chip shortages somewhat decrease, but there will still be supply chain disruptions that will drag well into 2022. 

He lays out commentary from top automakers who report semiconductor shortages will continue to constrain production. 

“We expect that inventories will be steadily rebuilt starting in September but will still remain well below their pre-pandemic level through the end of 2022. We expect a somewhat earlier recovery for used car inventories (which fell by a much smaller amount) following recent data showing sequential monthly increases from an April bottom,” Hatzius said. 

So here it is, for readers who are on the fence about selling their used car.

Now could be the best time ever, and the window is closing. Hatzius explains: “Based on a statistical model that incorporates our auto inventory and sales forecasts as well as lagged price growth, we estimate that used car prices will retrace almost 35% of their increase since the start of the pandemic by end-2021 and over 70% by end-2022, with tight inventories preventing faster normalization.” 

A steep correction in used car prices could be ahead as explained by Goldman. We outlined a month ago that used car prices “finally peaked.” 

Tyler Durden
Sat, 07/31/2021 – 17:30

via ZeroHedge News https://ift.tt/3xjfHpH Tyler Durden

“Not A Drill”: Infrastructure Bill Could Sink American Crypto Industry

“Not A Drill”: Infrastructure Bill Could Sink American Crypto Industry

Authored by Jeff John Roberts via Decrypt.co,

The government aims to partially cover the cost of a massive infrastructure bill by taxing crypto companies… and the entire industry will feel it.

Things just got ugly for crypto in Washington, D.C.

For years, the threat of major regulation has been raised like a hammer, ready to smash the crypto industry. Now, the hammer is ready to drop in the unlikely form of a major infrastructure bill in the U.S. Senate.

“This is not a drill,” writes Jake Chervinsky, an influential crypto lawyer and a sober voices in a hype-prone industry. In a must-read Twitter thread, Chervinsky explains how the $550 billion bill – which is primarily about roads and bridges – could shiv American crypto companies.

The pain comes in the part of the bill that explains how the U.S. will help pay for those roads and bridge. Namely, the bill states that Uncle Sam plans to cover $28 billion of the costs by squeezing crypto brokers.

The trouble is that the bill defines “broker”—a term normally used to describe the likes of Coinbase and Robinhood—as basically any business that touches crypto.

As Chervinsky writes,

“This definition is so broad, it could apply to nearly every economic actor in the US crypto industry, if read literally.”

The catch-all “broker” term could apply to miners, DeFi startups, and others who will have to file customer forms with the IRS, a task that is in some cases impossible.

The upshot is that the U.S. crypto industry is in the same position as the online gambling industry a decade ago when Congress regulated it out of existence. In the eyes of lawmakers, crypto companies—like online casinos—appear to be both sinful and rich, which makes them the perfect target for a revenue raid.

The difference, of course, is that crypto is not a new form of vice to be taxed but rather a world-changing technology like the Internet. Sure, it has enabled bad stuff (including gambling-like behavior) but the Internet did too, and U.S. lawmakers came around to realize it made strategic sense to build the web on American shores rather than driving it out of the country.

There is also the matter of that $28 billion of taxes the crypto industry is supposed to provide. How did the Senate arrive at that figure? No one really knows, but that’s not the point. The point is for Congress to conjure up numbers that will “pay” for roads and bridges, and taxing crypto “brokers” offers a way to do that.

If you think that this is just another regulatory bogeyman that will never happen, think again. The crypto broker provision is part of a larger $550 billion package that is poised to pass, and that President Biden is aiming to make the landmark accomplishment of his first year. If the U.S. crypto industry has to become road kill to make that happen, few in Washington will bat an eye.

All of this reflects poorly on U.S. elected officials, but the crypto industry bears responsibility too. For years now, the industry’s leaders have carried on like they’re too rich or too cool to be bothered with Washington DC. Now, that’s coming back to bite them. Meanwhile, the handful of companies who are making a serious effort to help crypto build political capital get branded with the c-word (“centralized”) and dumped on by others in the industry. That’s what happened to Uniswap, which is probably the most promising DeFi project, when it it recently dared to devote some of its budget to defend crypto in the Capitol.

For now, everything is not lost. One Washington insider—who describes the situation as a “live fire exercise”—tells Decrypt the industry has mobilized like never before and various factions are putting aside differences to fight a common threat. But she added that “we’re running out of cards to play” as Democrats pull out the stops to pass the infrastructure bill by August. Ironically, the crypto industry’s best hope could be other Democrats—namely, the progressive caucus threatening to blow up the entire bill unless their leaders pass a related bill full of left-wing spending goodies.

In the absence of a Democratic party crack-up, the crypto industry’s best hope is a long-shot bid to rewrite the broker language before the bill takes another step forward. Barring that, Chervinsky notes that the next step will be fighting a rear-guard action in the courts, and urging allies in Congress to prevent the worst parts of the law decapitating the industry when it goes into effect in 2023.

The bottom line is that this regulatory storm has been brewing years. The crypto industry should have done more to head it off. Now, it may be too late.

Tyler Durden
Sat, 07/31/2021 – 17:00

via ZeroHedge News https://ift.tt/3fcFTMz Tyler Durden

Hotels In Popular Mexican Resort Towns Now Require Proof Of Vaccination  

Hotels In Popular Mexican Resort Towns Now Require Proof Of Vaccination  

Americans have been traveling to resort destinations this summer ever since they were cooped up in their homes last year during the virus pandemic. Many have flooded Mexico’s Yucatan peninsula resort towns in a move to take advantage of inexpensive flights and epic resort deals. 

But with the global number of new coronavirus cases surging due to the Delta variant spreading worldwide – hotel guests in the state of Quintana Roo, which is home to resort towns, such as Cancún, Playa del Carmen, Cozumel, and Tulum, are now required under Mexican law to show proof of COVID health status, according to Forbes

Quintana Roo Governor Carlos Joaquín enforced the new measure last week that requires tourists to show proof of vaccination against COVID-19 or a negative test result before entering public places such as bars, restaurants, and hotels. 

Next week, the resort town of Mazatlán, located on the country’s west coast in the state of Sinaloa, will roll out similar policies that enforce proof of vaccination or negative test for tourists before entering public facilities. 

Vaccinated U.S. travelers have had more ease entering dozens of countries than unvaccinated travelers. This list includes most European countries and the Caribbean islands such as Anguilla, Bahamas, Barbados, St. Bart’s, and St. Lucia.

Health freedom has become a hot subject as new lockdowns, new mandates, and new “health passports” begin once more amid the Delta variant outbreak. 

For the unvaccinated, traveling abroad will include constant testing to stay compliant with local measures.

Tyler Durden
Sat, 07/31/2021 – 16:30

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The Battle Of The Censors

The Battle Of The Censors

Authored by James Rickards via DailyReckoning.com,

Two sides are attacking free speech, but their arguments are so irrational they end up attacking each other.

On one side are Facebook, Google, and the Google-owned YouTube channel. All three have engaged in censorship and suppression of free speech and open debate about the pandemic and vaccines.

Legitimate questions are squashed, and treatments, such as hydroxychloroquine and Ivermectin, cannot be mentioned without the risk of being banned from social media.

On the other side is the Biden administration, which also wants to ban discussion of alternate treatments and completely block any information that raises concerns about so-called COVID “vaccines.”

If social media and the Biden administration both favor censorship, what could they be arguing about?

It turns out that Biden is criticizing Facebook and Google for not censoring enough. Even though social media has squashed legitimate questions and debate, the Biden administration says they should do even more to block “misinformation.”

Of course, what Biden calls “misinformation” is actually legitimate information that Americans should be able to see. Here are some facts…

“Misinformation?” — or Information?

The COVID vaccines have not been approved by the FDA; (they are administered under an Emergency Temporary Standard, ETS). COVID “vaccines” are not true vaccines in the legal or historical sense because they do not prevent the disease; they simply reduce the response to the disease.

The COVID “vaccines” are experimental gene modification treatments that permanently alter certain gene production functions. How many vaxxed people understand that?

Most of what you’ve heard in the great vaccine debate is whether everyone will get the vaccine (and possibly be forced to) or whether people will be allowed to choose not to get the vaccine for a variety of reasons.

There are over 30-million Americans who have had COVID and recovered. They have natural antibodies that are likely stronger protection against new infection than any so-called vaccine.

Why should they be required to get the vaccine? Why are they never mentioned when mainstream commentators talk about the “unvaccinated?”

Good science and common sense say that COVID survivors don’t need the vaccine, so they should not be lumped in with those who choose not to get the vaccine, but they are.

There are serious side effects to the vaccines, including death. And the death toll from the vaccines may be dramatically underreported, at least according to one whistleblower.

Could the Vaccines Have Killed 45,000 People?

Named Jane Doe in the filing, the whistleblower is described as “a computer programmer with subject matter expertise in the healthcare data analytics field, and access to Medicare and Medicaid data maintained by the Centers for Medicare and Medicaid Services (CMS).”

Here’s what she claims:

It is my professional estimate that VAERS (the Vaccine Adverse Event Reporting System) database, while extremely useful, is under-reported by a conservative factor of at least 5. On July 9, 2021, there were 9,048 deaths reported in VAERS. I verified these numbers by collating all of the data from VAERS myself, not relying on a third party to report them. In tandem, I queried data from CMS medical claims with regard to vaccines and patient deaths, and have assessed that the deaths occurring within 3 days of vaccination are higher than those reported in VAERS by a factor of at least 5. This would indicate the true number of vaccine-related deaths was at least 45,000.

Now, VAERS only reports deaths; it doesn’t establish that the vaccines necessarily caused them. Therefore, it doesn’t provide definitive data, and trying to extrapolate the true number of vaccine deaths based upon the VAERS database involves guesswork.

But even if the true number is half what the whistleblower alleges, that’s still an extraordinarily high number of vaccine-induced deaths.

In 1976, the Swine Flu vaccine was pulled from the market, even though it resulted in only 53 deaths. It’s true that many more Americans have taken the COVID vaccines than took the Swine Flu vaccine in 1976, but deaths from these experimental vaccines are still several times greater.

You just won’t hear about that from the government or the mainstream media.

Does that mean you shouldn’t take the vaccine or that you’re going to die or have serious side effects if you’ve already taken it?

No, I’m not saying that. And I’m not an “anti-vaxxer.” Whether or not you choose to be vaccinated is your business.

Why Shouldn’t You Be Able to Make an Informed Decision?

It may be the case that the benefits of the vaccine outweigh the detriments, at least for the elderly and those with preexisting conditions. But it’s still a discussion worth having. You should be able to make an informed decision based upon the risks and benefits.

Unfortunately, you can’t have that discussion on social media because you’ll be blocked, jammed or de-platformed.

Dr. Robert Malone, a leading pioneer of the mRNA vaccine technology upon which the Pfizer and Moderna vaccines are based, has effectively been disappeared by Wikipedia because he’s expressed concern about the safety of these particular vaccines.

This isn’t some quack or fringe conspiracy theorist; Dr. Malone is an impeccably credentialed scientist who, again, pioneered the very technology upon which these COVID vaccines are based.

Meanwhile, some people are being fired from their jobs just for raising the question. And there has been no candid recognition that the vaccines are not FDA approved. They are part of an experimental gene modification treatment.

If you want to participate in the experiment, that’s fine, but don’t pretend it’s not an experiment. It may take years or longer to find out what the real cost/benefit trade-offs are. Now a new debate has erupted…

How Many Shots Will You Need?

It turns out that even two jabs of the vaccine may not be enough. In many people, the ability of the vaccine to prevent the worst effects of the virus wears off quickly. Many who have had the vaccine are being reinfected and becoming quite ill. Some are even dying.

Of course, Big Pharma has a solution for that. You need a third jab euphemistically called a “booster.” It’s not really a booster. It means the effect of the original jabs has worn off, and you need a new jab.

Don’t expect that to be the end of it. There’s no reason why this pattern won’t repeat itself given the original sequence. This means you’ll need a fourth jab in another six months and possibly a jab every six months for the rest of your life.

This means billions of dollars for Big Pharma (mostly paid for by you as a taxpayer).

It also turns Americans into a nation of drones obediently following orders to get more jabs of the gene modification medicine. What you’re doing to your body with the vaccine is like rewriting the operating system of a computer.

Every rewrite of computer code involves errors (called “bugs”) that call for more rewrites and so on in a never-ending sequence. The vaccine sequence is lining up the same way.

Without drawing definitive conclusions, why shouldn’t Americans at least be able to weigh the risks and benefits based on accurate information instead of propaganda? Letting both sides express views has been our First Amendment standard since 1787.

But as I noted above, now we have an argument between Big Tech, which favors censorship, and the Biden White House, which favors more censorship. As Shakespeare wrote, “A plague on both your houses.”

Tyler Durden
Sat, 07/31/2021 – 16:00

via ZeroHedge News https://ift.tt/3iff106 Tyler Durden