Tesla Secretly Constructing Mega-Battery Storage Facility For Texas Grid 

Tesla Secretly Constructing Mega-Battery Storage Facility For Texas Grid 

Bloomberg has uncovered a Tesla subsidiary registered as Gambit Energy Storage LLC., is secretly building a massive 100-megawatt energy storage project in Angleton, Texas. The introduction of the new facility could one day help integrate more solar, wind, and distributed energy resources. It also can improve the efficiency of the grid and increase capacity at peak hours. 

Property documents show Gambit shares the same address as a Tesla facility near its main automobile plant in Fremont, California. A U.S. Securities and Exchange Commission notes Gambit as a Tesla subsidiary. 

“Workers at the Texas site kept equipment under cover and discouraged onlookers, but a Tesla logo could be seen on a worker’s hard hat, and public documents helped confirm the company’s role,” Bloomberg said. 

The new battery-storage system can sufficiently power 20,000 homes on a hot summer day. Tesla’s Gambit has registered with Texas’s grid operator, Electric Reliability Council of Texas (ERCOT), and the site is near a Texas-New Mexico Power substation. Commercial operations of the new power storage facility will begin as soon as June 1 and allow ERCOT to increase grid capacity when needed. 

These developments come as a polar vortex plunged the state into a deep freeze in February, crippling its power grid as millions of customers were left in the dark for days. During Texas’ power grid debacle, Tesla’s Elon Musk tweeted that ERCOT “wasn’t earning that R.” 

Tesla has battery packs connected to Southern California Edison’s Mira Loma substation, located near Los Angeles. The 20-megawatt system has been operational for six years and expands the grid’s capacity during peak hours. At the moment, PG&E Corp and Tesla are working on a 182.5-megawatt system at a substation in Monterey County, California. 

The power grid debacle in Texas and other surrounding states in February will likely be an important lesson for many state governments in desperate need to upgrade their power grids. If the Biden administration can push through an infrastructure program, we would assume tens of billions of dollars would be directed to upgrading grids nationwide. 

By the 2030s, if power storage trends persist, Tesla Energy could represent up to a third of total revenue for the company that would be up from 6% today, according to analyst Alexander Potter of Piper Sandler. 

“Tesla’s energy storage business on a percentage basis is growing faster than their car business, and it’s only going to accelerate,” said Daniel Finn-Foley, head of energy storage at Wood MacKenzie Power and Renewables. “They are absolutely respected as a player, and they are competing aggressively on price.”

Tyler Durden
Tue, 03/09/2021 – 05:45

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9 Signs That Chess Pieces Are Being Moved Into Place For A Major War In The Middle East

9 Signs That Chess Pieces Are Being Moved Into Place For A Major War In The Middle East

Authored by Michael Snyder via TheMostImportantNews.com,

The American people are really going to regret putting the warmongers back in control.  Joe Biden has been in the White House for less than two months, and the warmongers that Biden has surrounded himself with have been feverishly setting the stage for the next war in the Middle East.  I do not believe that it will start within the next week, but I do believe that it is inevitable. 

While President Trump was in the White House for four years, the U.S. didn’t start any new conflicts, but now the Biden administration is quite determined to start projecting “American influence” all over the globe once again.  Most Americans don’t understand the bigger picture, but the truth is that this is going to have very serious implications over the next few years.

In this article, I would like to examine some of the chess moves that have been made since Joe Biden entered the White House.  As you will see, a very troubling picture emerges once you start putting all of the pieces together.

#1 Literally one day after Biden was inaugurated, a massive U.S. military convoy rolled into Syria

A large US military convoy entered northeastern Syria on Thursday, Syrian state news agency SANA reports, citing sources on the ground.

According to the report, the convoy included some 40 trucks and armored vehicles and was backed from the air by helicopters.

President Trump had tried very hard to disengage from the war in Syria, but Biden has made it crystal clear that the U.S. will be heavily involved in that conflict moving forward.

#2 Just a few weeks later, Joe Biden conducted his first airstrike against Iranian-backed forces inside Syria…

The US has carried out an air strike targeting Iran-backed militias in Syria, in the first military action undertaken by the Biden administration.

The Pentagon said the strike destroyed “multiple facilities” and was ordered in response to attacks against US and coalition personnel in Iraq.

Militia officials said one person had been killed but a war monitor reported at least 22 fatalities.

#3 Of course it was inevitable that Iranian-backed forces would respond, and they retaliated by launching rockets at a military base in Iraq where U.S. forces are stationed.  Just a couple days ago, new Defense Secretary Lloyd Austin said that there will be a U.S. military response “at a time and place of our own choosing”

Defense Sec. Lloyd Austin tells @MarthaRaddatz the U.S. is still assessing who carried out recent rocket attack on base in Iraq housing U.S. troops—and that if the U.S. decides to respond, it will be “at a time and place of our own choosing.”

#4 More U.S. airstrikes may come sooner rather than later.  In fact, it is being reported that the U.S. has just sent six B-52 bombers to Diego Garcia…

The U.S. Air Force is sending six B-52 Stratofortress bombers to Diego Garcia, a military hub that acts as a strategic location for operations in both the Middle East and the Pacific.

Citing a U.S. official, CNN on Monday reported that the Cold War-era bomber will be “available for operations against Iran if ordered.”

#5 The Biden administration is also sending approximately 10,000 more U.S. troops to the Middle East…

Once the amphibious assault ship Bataan, which is moving toward the Middle East, arrives, the U.S. will have added roughly 10,000 personnel to the area within the last week, according to The Wall Street Journal.

#6 Russia has been busy making moves in the region as well.  On Friday, Russia conducted an air strike on an oil-loading facility in Syria that is used by opposition forces that are backed by Turkey, Saudi Arabia and the Biden administration…

A suspected missile strike on an oil-loading facility used by Turkey-backed opposition forces in northern Syria sparked a massive blaze across a large area where oil tankers are normally parked, aerial and satellite images show.

Syrian opposition groups and at least one war monitor blamed Russia for the strike Friday night near the towns of Jarablus and al-Bab, near the border with Turkey. In a report, the Syrian Observatory for Human Rights, based in Britain, said Russian warships in the Mediterranean had fired three missiles that struck primitive oil refineries and tanker trucks in the region.

#7 Meanwhile, Israel continues to hit strategically important targets inside Syria on a regular basis.  The following comes from a news report that was published in late February

Syrian air defenses were activated in the capital Damascus and its southern suburbs Sunday night to repel an Israeli missile attack, state media reported. There was no word on casualties.

State TV quoted an unnamed military official as saying that most of the Israeli missiles were shot down before reaching their targets near Damascus.

#8 Israel is particularly interested in keeping Iran from developing nuclear weapons.  In an interview with Fox News, Israeli Defense Minister Benny Gantz just stated that Israel is ready to attack Iran without any U.S. help

The Israeli military is updating plans to strike Iranian nuclear sites and is prepared to act independently, Israeli Defense Minister Benny Gantz told Fox News.

Israel has identified numerous targets inside Iran that would hurt its ability to develop a nuclear bomb.

“If the world stops them before, it’s very much good. But if not, we must stand independently and we must defend ourselves by ourselves,” Gantz said in his first sit-down interview with an American outlet.

#9 During a phone call last Thursday between Kamala Harris and Benjamin Netanyahu, the Israeli Prime Minister made it exceedingly clear that his nation is ready to do whatever it takes to prevent the Iranians from developing their own nukes…

“The prime minister said we would continue to strengthen our intelligence and security cooperation and said during their conversation that as prime minister of Israel, he is totally committed to preventing Iran from developing nuclear weapons that are meant for our destruction.”

Of course the Iranians have no plans to back down, and that makes a military conflict between Israel and Iran inevitable.

There will be war in the Middle East, and the horror of that conflict will shock the entire planet.

And once that war begins, it will greatly accelerate our economic problems and the ongoing political turmoil in this country.

So enjoy this brief period of relative stability while you can, because our world is about to start changing in dramatic ways.

*  *  *

Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.

Tyler Durden
Tue, 03/09/2021 – 05:00

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Venezuela Issues Million-Bolivar-Bill Worth 50 Cents As Hyperinflation Rages

Venezuela Issues Million-Bolivar-Bill Worth 50 Cents As Hyperinflation Rages

Venezuela’s currency has lost 99.999% of its value during the six years of hyperinflation, forcing the country to issue larger banknotes. On Friday, the nation’s central bank announced new plans to unveil the highest valued banknote of one million bolivars. 

The Central Bank of Venezuela tweeted Friday that “three new banknotes will be incorporated into the current Monetary Cone, as part of the expansion of the current family of monetary species.” As early as this week, it will introduce banknotes worth 200,000, 500,000, and one million bolivars. For those wondering how much one million bolivars is worth in terms of US dollars, well, it’s around 50 cents. 

When the central bank revealed the new bills, Director and Partner at Ecoanalitica, economist Asdrubal Oliveros, said the banknote is good for nothing more than public transport – one of the few services reliant on the paper bolivar.

For example, here is Bloomberg’s Cafe Con Leche Index – which tracks the price of a cup of coffee served piping hot at a cafe in eastern Caracas… it now costs 2.7975 million bollivars (up 3000% from a year ago)…

During hyperinflation, the country has imported greater and greater amounts of paper to issue more banknotes. Venezuela imported 71 tons of paper from Italian money printer Fedrigioni (majority-owned by US Private Equity giant Bain Capital) to print new bolivars in late 2020. 

The need for ever-larger bills and constant devaluations in Venezuela is a direct result of an ever-weakening currency, and interannual inflation was running at 2,665% as of January.

“These new bills will complement and optimize the current denominations, to meet the requirements of the national economy,” the central bank said in a statement.

As the Venezuelan currency rapidly depreciates, Venezuela’s government is preparing to move to a fully digital economy – whatever that means for the country which a couple years ago adopted some weird cryptocurrency as the de facto Petro currency of the state to… perplexing consequences, as hyperinflation in this South American socialist paradise (coming soon to every socialist paradise nears you) continues to rage on. 

We’ve seen hyperinflation episodes in Venezuela and Zimbabwe. The real question as the US dives deeper into MMT, or Magic Money Theory, will that one day result in a worthless dollar and soaring inflation? 

Tyler Durden
Tue, 03/09/2021 – 04:15

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The Dangers Of A Central Bank Digital Currency

The Dangers Of A Central Bank Digital Currency

Authored by Daniel Lacalle,

In recent weeks Jerome Powell at the Federal Reserve and Christine Lagarde at the European Central Bank have commented on the likelihood of implementing digital currencies in the next years. The positives have been well explained. More transparency, ease of use and lower cost.

The European Central Bank has stated that “a digital euro would guarantee that citizens in the euro area can maintain costless access to a simple, universally accepted, safe and trusted means of payment. The digital euro would still be a euro: like banknotes but digital. It would be an electronic form of money issued by the Eurosystem (the ECB and national central banks) and accessible to all citizens and firms. A digital euro would not replace cash, but rather complement it. The Eurosystem will continue to ensure that you have access to euro cash across the euro area. A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to financial inclusion alongside cash”.

In the United States, many voices call for a digital dollar to compete with China’s yuan. However, the US dollar is already the world reserve currency, it is used in more than 80% of global transactions while the yuan is used in less than 4%, according to the Bank of International Settlements (the total is 200% as each transaction involves two currencies), and most payments and transfers are already electronic. The euro is the second most used currency and is also mostly through electronic transfers. One can say that the US Dollar and the euro are already “digital”.

All this sounds good. So, why should we worry about a central bank “digital currency”?

There are important risk factors to consider.

The first one is privacy. The central bank would control almost all transactions in a currency and have all the information of how deposits and savings are kept. The gradual implementation of the central bank digital currency would involve important risks of privacy but also concerns about the central bank controlling the amount of savings and their form. A central bank that controls all transactions and how savings are kept is also able to act against those savings by “dissolving” them with monetary policy.

The most important risk of a digital currency is that it would provide unlimited power to central banks to increase the money supply and direct it where governments want it.

The digital currency would eliminate the banks as intermediaries in the transmission mechanism of monetary policy. These “brakes” are and have been essential to contain inflation and excessive government control of money creation. In quantitative easing the credit system works as a tool to prevent the inflationary pressures of money supply. When central banks increase their balance sheet it does not immediately translate to inflation because we, citizens, and businesses, limit the money supply risk of destroying purchasing power of the currency by taking less credit than the increase in money supply. If citizens and businesses do not demand more credit, the transmission mechanism of monetary policy has enough back-stops that prevent excess of money from creating massive inflationary pressures in goods and services. Yes, quantitative easing does generate massive inflation in asset prices by making the most secure asset -sovereign bonds- very expensive, but it certainly works well as a brake on inflationary risks. Governments are also limited in their borrowing desires by their budgets and internal financial controls.

Money creation is never neutral, and disproportionately benefits the first recipients of new money created, governments, while hurting massively the last recipients, savers and real wages. The digital currency would not only open the flood gates of much higher money supply growth, but destroy all the mechanisms that prevent new money from being absorbed entirely by political spending and eroding the purchasing power of salaries and wages. In essence, a central bank digital currency can be the dream of a central planner as the ultimate tool for the expropriation of wealth and taking control of an economy to put it entirely in the hands of governments.

A digital currency could open the risk of eliminating all controls on government spending, as politicians would be the first recipients of all newly created money and able to do so without budget control.  As such, a digital currency could be a dangerous tool used for the nationalization of the economy

When banks and the credit mechanism are erased from the transmission of monetary policy, the risk of inflation and destruction of the purchasing power of the currency rises massively. It would eliminate the demand part of the credit mechanism as a brake on inflation.

The reader may think that the above is too negative and that this would not necessarily happen.

However, the reader must think of the following question:

If governments are given a tool that allows them to spend all they want and take control of the economy, do you really believe they will not use it?

The reader may say that central banks are independent, and that this independence prevents governments from crowding out all money supply and take unlimited risk. Unfortunately, the independence of central banks is increasingly questioned, and monetary policy has gone from being a tool to help make structural reforms to a tool to avoid them. The fact that central banks are almost in all occasions taking actions to facilitate more crowding out of the public sector and more government control and spending does not help either.

A digital currency can only be a good idea if central banks had no power in the increase of money supply, if they had clear and unbreakable rules -such as a Taylor rule- regarding their policy, and discretionary measures were impossible. Keep dreaming.

The only way in which a digital currency would work for savers and real wages is if there was clear evidence that it would not be controlled by central banks, curbing the ever-increasing government control of the economy. Unfortunately, that is not the case. When neo-Keynesians talk about “innovation” in central banking and digital currency what they are talking is simply Argentina-style money printing to advance government control of the economy.

A central bank digital currency would eliminate all the remaining limits to government control of the economy.

The risks of a digital currency is enormous. Privacy could disappear and the limits to government spending would be eliminated. Even worse, the power of governments to decide who and why receives new tokens of this money would be unchallenged. In today’s world, we should not even discuss any tool that can open the gate of giving even more power and control of the economy, wages, and savings to governments. 

Tyler Durden
Tue, 03/09/2021 – 03:30

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BP Orders 25K Employees To Stay Home 2 Days A Week In Permanent Shift To Remote Work

BP Orders 25K Employees To Stay Home 2 Days A Week In Permanent Shift To Remote Work

Megabanks like JP Morgan aren’t the only major corporations looking to cut costs pertaining to office space. As office-space rents in Manhattan plunge to their lowest levels since 2018, British Petroleum is reportedly planning to allow staff to work from home two days a week as part of a pandemic-inspired shift to flexible working patterns. office-based staff that they will be expected to work from home for two days a week as part of a post-pandemic shift to flexible work.

The latest warning shot for corporate real estate in some of the world’s most valuable markets (BP is headquartered in London), the Guardian reports that BP has told 25K corporate office staff that they will be expected to work from home for two days a week even after the pandemic has become a distant memory.

The global oil company first shared its plans for the new hybrid model with staffers last month, according to the report. The company expects the 60-40 split between office and home working to take effect this summer as COVID-linked restrictions are expected to ease in the UK.

That BP is looking to shrink its office-space footprint is hardly a surprise: Last year, BP confirmed the £250M sale of its St. James’s Square headquarters to the Hong Kong investment fund Lifestyle international. Per the deal terms, BP will lease the building back for up to two years before finally moving out.

A rep for the company said it recognizes the value of in-person collaboration and remote work, and hopes that the mix will allow for a work environment that is “flexible, engaging and dynamic”. The order is expected to affect BP’s global network of corporate workers, including 6K staff in the UK (and 2K staff in London).

The 111-year-old BP is engaging in an intense modernization drive, and its plans for flexible work are just one part of that. Under the leadership of Bernard Looney, who took over as CEO last February with a promise to lead BP to becoming a “net zero carbon” company by 2050. In the US, the energy giant is still most remembered for the underwater oil spill in the Gulf of Mexico which became a major disaster ten years ago.

A spokesman for BP told the Guardian that the company’s teams, workers and managers would “together work out where and how they will best work, and when they come together in the office.”

“Some roles will require people to be in the office or their prime location every day, and some roles will require greater travel or connecting digitally with colleagues, with less time in the office. There may also be some colleagues who prefer working in the office more,” the spokesman added.

BP’s modernization drive has also involved lots of layoffs. Last year, the company announced plans to reduce its corporate office staff by 15%, culling roughly 10K office-based roles. Whether the rebound in energy prices has any impact on these plans remains to be seen.

Tyler Durden
Tue, 03/09/2021 – 02:45

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Why Europe’s Left Wants A European Financial Superstate

Why Europe’s Left Wants A European Financial Superstate

Authored by Philip Bagus via The Mises Institute,

In an open letter to the EU Commission with the title Joint Letter: Reshaping the European Fiscal Framework, on February 17, 2021, a coalition of left-wing and green politicians, think tanks, and trade unions unsurprisingly led by George Soros made an appeal for a permanent common EU budget with the possibility of borrowing to support investments that advance the Green Deal and other pharaonic projects.

In addition to the permanent EU budget, the letter calls for overriding and making more flexible EU fiscal rules and supporting fiscal policy with further monetary policy measures by the European Central Bank.

What to say about these proposals?

The permanent EU budget and the possibility of the EU to issuing debt have always been the pipe dream of socialist politicians who want a European superstate. This proposal would be an important step toward such a goal, as from then on the emerging European central state could assume more powers and further grow. The brakes would be off. Again and again socialists have tried to take advantage of crises to move closer to the goal of a European central state by creating new European institutions and increasing the power of the already existing ones. Now the covid-19 crisis is the perfect excuse to make another effort and create facts.

The signatories believe that only the state can lead the economy out of the corona crisis and that it must manage climate change in a socially just manner. In their vision, not only should the EU budget contribute to this end, but fiscal rules should be abrogated in its pursuit, especially the Stability and Growth Pact and the European Fiscal Compact. These were introduced to limit the deficits and debts of the euro states mostly due to German pressure. These fiscal rules are a thorn in the side of the signatories and governments. In the corona crisis, the socialists want to use fiscal policy for macroeconomic management. Of course, this requires the help of monetary policy, because the deficits and debts are to be monetized, of course, with new money printing by the ECB. For the Keynesian-minded signatories, it is obvious that it is the state that must rebuild the economy after the corona crisis and lift millions of people out of poverty. In doing so, strict fiscal rules should not hinder the state.

The economic illiteracy evident from such demands is appalling. Ultimately, the proposal boils down to the ECB printing as much new money as possible, to be spent wisely by the EU and the member states. Printing money, however, does not make a society richer: that is a common misconception. Printing new money does not create any new wealth, because it does not increase the productive capacity of the economy. In the same way as adding a zero to all existing banknotes and bank accounts does not add one iota to society’s wealth, printing new money and handing it over to the state does not do so either. However, and in contrast to just adding zeros to the existing money titles, the central bank’s printing of money redistributes wealth in favor of the state and parties connected to it and to the detriment of civil society. Another difference from increasing the money supply by adding zeros is the inefficiencies and the squandering of resources made possible through the monetizing of deficits and the higher government expenditures.

There is another common misconception at the basis of the proposal put forward in the joint letter calling for the state to “[lift] millions out of poverty.”

It is a grave error to believe that it is the state that lifts people out of poverty and that this would simply require letting the state off the leash by abrogating all fiscal rules and printing money. If this were true, the Soviet Union would have been one of the richest countries in the world. It is always private entrepreneurs who create wealth, by trying to satisfy the needs of their fellow human beings better and more cheaply than their competitors. It is precisely this private initiative that creates wealth and that would also lead the economy swiftly out of the corona recession.

However, private entrepreneurs need freedom to do so this, i.e., low regulations and taxes, as well as a sound currency.

So private entrepreneurs need exactly the opposite of what the advocates of the European superstate demand in their letter.

Tyler Durden
Tue, 03/09/2021 – 02:00

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Hong Kong’s Carrie Lam “Fully Welcomes” Election Overhaul To Ensure City Run By China “Patriots”

Hong Kong’s Carrie Lam “Fully Welcomes” Election Overhaul To Ensure City Run By China “Patriots”

Beijing’s proposed major overhaul of Hong Kong’s electoral system has been broadly slammed in the West as but the final cementing of the mainland’s grip over what was set-up since the late 90’s to function as a semi-autonomous city-state according to the “one country, two systems” agreement made with the UK. Following on heels of last year’s draconian and far-reaching national security law which has been used to effectively crush dissent and arrest literally hundreds of pro-democracy activists – many of them also having fled to outside countries – multiple Communist Party officials addressing this weekend’s National People’s Congress (NPC) assembly in Beijing have warned the West not to interfere. 

Former governor of Hong Kong Lord Chris Patten was cited in BBC as saying that China’s Communist Party had “taken the biggest step so far to obliterate Hong Kong’s freedoms and aspirations for greater democracy under the rule of law”. However, Chinese Foreign Minister Wang Yi in an annual speech touted that “Hong Kong’s shift from chaos to stability fully serves the interests of all parties. It will provide stronger guarantees for safeguarding Hong Kong citizens’ rights and foreign investors’ lawful interests.”

And pro-Beijing Hong Kong Chief Executive Carrie Lam is “fully welcoming” the China-proposed major changes to the electoral system which will increase the mainland’s influence. “There are loopholes in the electoral systems, there are also flaws in the systems in Hong Kong,” Lam told reporters on Monday, according to The Associated Press.

AFP/Getty Images

“I fully understand that this is not a matter that can be addressed entirely by the government. I’m glad that the central authorities have, again, exercised its constitutional powers to help address this problem for Hong Kong,” she said.

The statement comes days after State Department spokesman Ned Price lambasted the changes as constituting “a direct attack on Hong Kong’s autonomy, Hong Kong’s freedoms, and the democratic processes, limiting participation, reducing democratic representation, and stifling political debate in order to defy the clear will of the people of Hong Kong and to deny their voice in their own government and governance.”

The AP provides a summary of the overhaul and how it will impact candidate “vetting” and voting as follows

Chinese authorities have said the draft decision before China’s National People’s Congress would mean the largely pro-Beijing committee that elects Hong Kong’s leader would also choose a large part of the legislature to ensure the city is run by “patriots.” The Election Committee would also have the right to vet candidates for the Legislative Council, weeding out any people suspected of being insufficiently loyal to China and the ruling Communist Party.

Currently, half of Hong Kong’s legislature is directly elected by voters, although the mass resignation of opposition legislators to protest the expulsion of four of their colleagues for being “unpatriotic” means the body is now entirely controlled by Beijing loyalists.

At other steps of the process too Beijing will further be able to examine whether lawmakers are sufficiently pro-mainland. 

Lam it should be recalled is the Hong Kong leader whose 2019 proposal to extradite criminal suspects to China sparked many months of fierce anti-China protests that often involved violent clashes with police and the shutting down of who central sections of the city. 

This led to the sweeping national security law last June which has since resulted in the arrest and sentencing of over 100 protesters. The law enables authorities to easily deem activism and free speech as possible ‘terrorist activity’ if an individual is deemed conspiring with foreign powers or issuing anti-China propaganda and rhetoric. Lately even school textbooks have been purged to only allow for pro-mainland and pro-Communist ‘education’

Tyler Durden
Tue, 03/09/2021 – 01:00

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The New Normal (Phase 2)

The New Normal (Phase 2)

Authored (mostly satirically) by CJ Hopkins via The Consent Factory,

So, we’re almost a year into the “New Normal” (a/k/a “pathologized totalitarianism”) and things are still looking … well, pretty totalitarian.

Most of Western Europe is still in “lockdown,” or “under curfew,” or in some other state of “health emergency.” Police are fining and arresting people for “being outdoors without a valid reason.” Protest is still bannedDissent is still censored. The official propaganda is relentless. Governments are ruling by edict, subjecting people to an ever-changing series of increasingly absurd restrictions of the most fundamental aspects of everyday life.

And now, the campaign to “vaccinate” the entirety of humanity against a virus that causes mild to moderate flu-like symptoms or, more commonly, no symptoms at all, in over 95% of those infected, and that over 99% of the infected survive (and that has no real effect on age-adjusted death rates, and the mortality profile of which is more or less identical to the normal mortality profile) is being waged with literally religious fervor.

“Vaccine passports” (which are definitely creepy, but which bear no resemblance to Aryan Ancestry Certificates, or any other fascistic apartheid-type documents, so don’t even think about making such a comparison!) are in the pipeline in a number of countries. They have already been rolled out in Israel.

In other words, as predicted by us “conspiracy theorists,” the “temporary emergency public health measures” implemented by GloboCap in March of 2020 are still very much in effect, and then some.

That said, as you have probably noticed, the tenor of things is shifting a bit, which is unsurprising, as GloboCap is now making the transition from Phase 1 to Phase 2 of the “New Normal” roll-out.

Phase 1 was pretty much classic “shock and awe.”

An “apocalyptic virus” was “discovered.” A global “state of emergency” was declared. Constitutional rights were cancelled. Soldiers, police, surveillance camerasmilitary drones, and robot dogs were deployed to implement the worldwide police state. The masses were bombarded with official propaganda, photos of people dropping dead in the streetunconscious patients dying in agony, bodies being stuffed into makeshift morgue truckshospital ships, ICU horror stories, projections of hundreds of millions of deathsterror-inducing Orwellian slogans, sentimental “war effort” billboards, and so on. The full force of the most formidable Goebbelsian propaganda machine in history was unleashed on the public all at once. (See, e.g., CNNNPRCNBCThe New York TimesThe GuardianThe AtlanticForbes, and other “authoritative” sources like the IMF and the World Bank Group, the WEFUNWHOCDC.)

But the “shock and awe” phase can’t go on forever, nor is it ever intended to. Its purpose is (a) to terrorize the targeted masses into a state of submission, (b) to irreversibly destabilize their society, so that it can be radically “restructured,” and (c) to convincingly demonstrate an overwhelming superiority of force, so that resistance is rendered inconceivable. This shock and awe (or “rapid dominance”) tactic has been deployed by empires, and aspiring empires, throughout the course of military history. It has just been deployed by GloboCap against … well, against the entire world. And now, that phase is coming to an end.

The shape of Phase 2 is not entirely clear yet, but one can make a few logical assumptions.

Typically, this is the phase in which the conquering force (in this case, GloboCap) restores “normality” (i.e., a “new normality”) to the society it has just destabilized and terrorized. It installs a new occupation-friendly government, restarts the economy, and otherwise begins the gradual transition from martial law to something resembling “normal” everyday life. It hands out candy bars to kids, financial aid to businesses, power to generals and police, and “freedom” to the shell-shocked public.

This appears to be where we are at the moment. As you’ve probably noticed, the corporate media, government leaders, and medical experts have been making noise about “the end of the pandemic,” or at least “the end of the emergency phase” of it. Suddenly, “some level of Covid is tolerable,” “Zero Covid is unlikely,” et cetera. This is happening pretty much right on cue.

Now that the vaccination push is underway, they are trying to temper the mass paranoia and hatred that they have fomented for over a year with some hope and a vision of a post-crisis future. Governments are carefully relaxing restrictions, making sure we understand that if we don’t obey orders, wear our masks, get our vaccinations, and so, they will crack down on us again without mercy. They want to ease us into the pathologized-totalitarian future gently, so that it feels like we are being liberated, returning to some semblance of normal life, albeit in a new, more terrifying, perpetually-virus-and-extremist-threatened world.

For example, here in Germany, the government has decided to “return some freedom and trust to the people,” but they are prepared to lock us down “hard” again if they suspect we haven’t “used their trust wisely.” According to the 5-Step Plan, bookshops and florists can reopen this week with a one-person-per-ten-square-meter limit, up to ten people can play non-contact sports, and five people from no more than two households can meet up (and, thus, also play non-contact sports), unless the “incidence rate” of positive PCR tests rises above 100 per thousand, in which case, back to “hard lockdown” we go. Two weeks after that, on March 22, if the “positive-test rate” stays below 50, outdoor restaurant dining can resume, and theaters, cinemas, and opera houses can open. However, if the “positive-test rate” is more than 50 but less than 100, outdoor dining will only be permitted on a strictly pre-booking basis. (One assumes there will be roving goon squads examining restaurants’ booking records and ordering patrons to show their papers.) There are further Kafkaesque conditions in the plan, but I think you get the general idea.

Meanwhile, in the USA, although DC remains under occupation, the Capitol surrounded by razor-wire fences to protect democracy from an imaginary enemy straight out of George Orwell’s 1984, Texas, Mississippi, and a few other states are joining Florida in open rebellion, and allowing people to go out to eat, get together with their families and friends, walk around in public without medical-looking masks, and otherwise go about living their lives in a totally non-anus-clenched-paranoid fashion.

Notwithstanding the outrage of the Covidian Cultists, this development is not of great concern to GloboCap, as the coastal power centers are full-blown “New Normal,” and the liberals who predominantly occupy them have been transformed into paranoid, hysterical zealots who now dedicate a considerable amount of time to hunting down alleged “Covid deniers,” “anti-maskers,” “vaccine refusers,” “white-supremacist extremists,” “conspiracy theorists,” “libertarians,” dead “racist cartoonists,” and anyone else who won’t conform to their pathologized-totalitarian ideology, and obsessively trolling them on social media, or reporting their thoughtcrimes to the Reality Police.

This transformation of the relatively affluent, predominantly liberal, middle/upper classes, and the millions futilely aspiring thereto, into mindlessly-order-following “Good Germans” (or, rather, mindlessly-order-following “New Normals”) has also occurred here in Western Europe, and elsewhere throughout the global capitalist empire, and was one of GloboCap’s main objectives throughout Phase 1 of the “New Normal” roll out. This transformation has been in progress for quite some time, less dramatically and without a virus. It will continue once this virus is gone.

The “New Normal” isn’t just about a virus. The “New Normal” was never just about a virus. You don’t need a new “normal” because of a virus. You need a new “normal” when your current “normal” has outlived its usefulness to those in power, which, in our case, are the global capitalist ruling classes.

I’ve been writing about this for … well, most of my life, and publishing these columns for the last five years, so I’m not going to summarize all that here, but, basically, we’re living through one of those historic transformations of the structure of political power that we usually don’t recognize until after it has occurred … not just a “changing of the guard,” a transformation of the nature of power, how it is exercised, the beliefs it is based on, and the “reality” conjured into being by those beliefs.

This transformation began with the end of the Cold War, when global capitalism became the first globally-hegemonic ideological system in history. The roll-out of the “New Normal” is part of that transformation, not the whole of it, but an essential stage. We are transitioning from an ideological “reality” to a post-ideological, pathologized “reality” … a “reality” in which any and all deviation from official ideology (i.e., “normality”) is no longer a political challenge or threat, but an “illness” or “psychiatric disorder.”

I’m going to be obnoxious and quote myself, so that I don’t have to try to explain this again. Here’s a passage from a recent column:

“A globally-hegemonic system (e.g., global capitalism) has no external enemies, as there is no territory ‘outside’ the system. Its only enemies are within the system, and thus, by definition, are insurgents, also known as ‘terrorists’ and ‘extremists.’ These terms are utterly meaningless, obviously. They are purely strategic, deployed against anyone who deviates from GloboCap’s official ideology … which, in case you were wondering, is called ‘normality’ (or, in our case, currently, ‘New Normality’) … [t]he new breed of ‘terrorists’ do not just hate us for our freedom … they hate us because they hate ‘reality.’ They are no longer our political or ideological opponents … they are suffering from a psychiatric disorder. They no longer need to be argued with or listened to … they need to be ‘treated,’ ‘reeducated,’ and ‘deprogrammed,’ until they accept ‘Reality.’”

As we shift from Phase 1 to Phase 2 of the “New Normal,” the pathologization of political dissent will continue, and intensify, both overtly and subtlely.

GloboCap and the corporate media will continue to warn of imminent “attacks on democracy” by imaginary “domestic terrorists,” as well as the old “non-domestic terrorists.” They will also continue to warn of imminent threats posed by exotic viruses, and “variants” of exotic viruses, and permanent “conditions” caused by viruses, and other threats to our bodily fluids. Above all, they will continue to warn of the danger of ingesting “misinformation,” “conspiracy theories,” or any other type of unverified, unauthorized, un-fact-checked content. They will thoroughly diagnose the sources of such content, and exhaustively explain the pathological conditions these sources will clearly be suffering from. They will explore a variety of treatments and cures, and recommend prophylactic measures against potential exposure to these sources.

These multiplicitous “threats to democracy” (i.e., “terrorists,” “viruses,” “misinformation,” “racism,” “sexism,” “homophobia,” “transphobia,” “electoral-system scepticism,” “white-supremacist pancake syrup,” “premeditated pronoun abuse,” “oppositional-defiant-infant masklessness,” “vaccine hesitancy,” “religion,” et cetera) will fuse into a single Goldstein-like enemy which “New Normal” children will be conditioned to reflexively hate and fear, and want to silence, and quarantine off from “normal” society, or “cure” of their “illness” with government-mandated, “safe and effective” pharmaceutical therapies.

But whatever … I wouldn’t worry about that. I’m probably just getting all worked up over nothing. After all, as a lot of my ex-friends will tell you (through their multiple masks and prophylactic face shields), I’m just a paranoid “conspiracy theorist” spreading “unverified misinformation.”

Tyler Durden
Tue, 03/09/2021 – 00:05

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Iran Takes Yet More Action To Blow Past Nuclear Restrictions At Natanz: IAEA

Iran Takes Yet More Action To Blow Past Nuclear Restrictions At Natanz: IAEA

At a moment that Israel says it has implemented new plans that will enable it to more effectively launch preemptive attack on Iran’s nuclear facilities should Israeli leaders believe the Islamic Republic is on the cusp of nuclear weapons capability, Tehran announced Monday that it continues blowing past prior uranium enrichment limits in place as part of the 2015 nuclear deal.

Reuters is reporting it as a “recent acceleration” of restriction violations at a moment Biden’s prior stated intent to rejoin the JCPOA is faltering while US-led sanctions (put into effect by Trump) are still at their max. It appears part of continued efforts at ratcheting the pressure on Biden to provide immediate sanctions relief, which thus far the new Democratic administration has refused to do until Iran comes back into nuclear compliance. 

But at the same time Iran’s boldness in piling on the pressure in the face of a hesitant Biden administration may inadvertently trigger Israeli retaliation.

Iran’s Uranium Conversion Facility, just outside the city of Isfahan, via AP

“Iran has started enriching uranium with a third set of advanced IR-2m centrifuges at its underground plant at Natanz, the U.N. nuclear watchdog told its member states on Monday,” Reuters writes. Crucially it was this very facility at Natanz that was subject of a major sabotage attack in July 2020, with most analysts believing Israel was likely behind it – possibly via a major cyberattack.

The UN nuclear watchdog IAEA group issued a statement saying, “On 7 March 2021, the Agency verified at FEP that: Iran had begun feeding natural UF6 into the third cascade of 174 IR-2m centrifuges.”

“The fourth cascade of 174 IR-2m centrifuges was installed but had yet to be fed with natural UF6; installation of a fifth cascade of IR-2m centrifuges was ongoing; and installation of a sixth cascade of IR-2m centrifuges had yet to begin,” it said further. 

This means that Iran is inching closer toward the 90% uranium purity needed to develop a nuclear bomb, but the IAEA statement indicated Iran was still far from that marker, but is daily opening up such a path if it chooses to go to those levels. 

Essentially Iran’s position over the past months has been that it’s free to ramp up enrichment at it’s choosing because the US broke the deal (in May 2018) and is thus not in a position to demand conformity. Iran has complained all along that the European signatories have done little to nothing to salvage the JCPOA in the face of Washington’s belligerence and threats of sanctions enforcement. 

Tyler Durden
Mon, 03/08/2021 – 23:45

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Stagflation Subterfuge: The Real Disaster Hidden By The Pandemic

Stagflation Subterfuge: The Real Disaster Hidden By The Pandemic

Authored byby Brandon Smith via Birch Gold Group,

In recent economic news, headlines are being dominated by concerns over rising bond yields. Increased bond yields are a sign of a possible spike in inflation and, logically, they call for the Federal Reserve to raise interest rates in order to prevent that inflation.

Higher bond yields also mean there is a competitive alternative to stocks for investors – both factors that could trigger a plunge in the stock market.

If one studies the real history behind the stock market crash during the Great Depression, they will find that it was the Federal Reserve’s interest rate hikes that caused and prolonged the disaster after they had created an environment of cheap and easy money throughout the 1920s. Former Chairman Ben Bernanke openly admitted the Fed was responsible back in 2002 in a speech honoring Milton Friedman. He stated:

“In short, according to Friedman and Schwartz, because of institutional changes and misguided doctrines, the banking panics of the Great Contraction were much more severe and widespread than would have normally occurred during a downturn. Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”

This then raises the question – inflation or deflation? Will the Fed “do it again?”

Probably not in exactly the same way, but we will see elements of both inflation and deflation soon in the form of stagflation.

It’s a Catch-22 that the central bank has created, and many (including myself) believe that the Fed has created the conundrum deliberately. All central banks are tied together by the Bank for International Settlements (BIS) and the BIS is a globalist institution through and through. The globalist agenda seeks to trigger what they call the “Great Reset,” a complete reformation of the global economy and capitalism into a single one world socialist system… managed by the globalists themselves, of course.

In my view the Fed has always been a kind of institutional suicide bomber; its job is to self-destruct at the right moment and take the U.S. economy down with it, all in the name of spreading its cult-like globalist ideology.

The only unknown at this point is how they will go about their sabotage. Will the central bank continue to allow inflation to explode the cost of living in the U.S., or will they intervene with higher interest rates and allow stock markets to crash?

Either way, we face a serious economic crisis in the near future.

Increasing Inflation Means Economic Recovery?

Mainstream economists will often argue that rising yields and inflation are a “good thing.” They claim this is a sign of rapid economic recovery. I disagree.

If “inflation” was the same as “recovery,” then there would not have been total economic collapses in Argentina in 2002, in Yugoslavia in 1994, or in Weimar Germany in the early 1920s.

I do not see recovery. What I see is the rapid devaluation of the dollar’s buying power due to massive fiat printing through stimulus measures. The Fed and the U.S. government are buying a short-term surge in economic activity, but at a hidden cost. This is a condition that the Dollar Index does not even begin to address, but obvious in prices of necessary goods and commodities.

Keep in mind that all of this is being done in the name of responding to the pandemic. The pandemic is the ultimate excuse for the active destruction of the U.S. economy. Stimulus measures have devolved into helicopter money being thrown about haphazardly as billions are siphoned primarily by major corporations and through fraud. People who are clamoring for a $2,000 relief check from the government have no idea that corporate welfare has been ongoing for the past year along with billions in retroactive tax refunds. All of that money printing is going to cause damage somewhere. It cannot be avoided.

It’s Not About The Pandemic

Let’s make something clear first: The pandemic is NOT the reason for the stimulus flood. The pandemic did very little to hurt actual business in the U.S. Rather, it was the lockdowns that did most of the damage.

Think about that for a moment – federal and state governments crushed the economy through lockdowns, then offered the solution of vast stimulus measures. This in turn is destroying financial stability and generating rapid price inflation.

Conservative states and counties that refused to shut down are recovering at a much faster pace than leftist states which imposed draconian restrictions on citizens. Yet, the lockdowns did nothing to stop the spread of COVID-19 in blue states. So, the lockdowns accomplished no discernible advantage for the public, but they did give the central bank a perfect rationale to further erode the dollar.

This resulting price inflation is something that not even the red states can escape.

For example, home prices are rapidly expanding beyond the market bubble of 2006. This is partially due to millions of people participating in perhaps the largest migration in the U.S. since the Great Depression. Anyone who is able is moving away from major cities into suburban and rural areas. But, home prices also have a historic habit of inflating along with currency devaluation. The cost of maintaining and remodeling an older home, or building a new home, rises as the prices of commodities like lumber inflate.

And lumber prices are certainly inflating! Softwood lumber prices are up at least 110% from a year ago, and are climbing as much as 10% in a week.

Home rentals also do not escape inflation, as the rising cost of maintaining properties forces landlords to increase rents. The only places where rents are decreasing are major cities that Americans are seeking to flee, such as New York and San Francisco.

Inflation In More Than Just Housing

The majority of commodities continue to see price inflation across the board. Food and energy prices have been creeping higher for the past year. Governments are once again blaming the pandemic and “stresses on the supply chain,” which may have been a believable claim nine months ago, but not today. Anything to hide the fact that all that stimulus has inflationary consequences.

Dollar devaluation is the most visible in terms of imported goods. In other words, it costs more dollars to buy goods outside the U.S. as the value of the dollar falls. And since the majority of U.S. retail is supplied by foreign producers, this means that average American consumers will suffer the brunt of inflationary consequences. Public stress and anger will be high.

Pandemic Lockdowns Are Just An Excuse

This is why the COVID-19 lockdowns must continue and the pandemic fear factory must remain active. The globalists need a cover event for the Reset and they need to keep the citizenry under control, and the pandemic can be blamed for just about anything. I think this is why we are already seeing the media hyping the existence of “COVID mutations.” Do not be surprised if the Biden Administration tries to implement a national lockdown sometime this year in the name of stopping the spread of a “more deadly” COVID-19 variant.

It won’t matter that the previous lockdowns were useless and all the data shows that keeping the economy open is a superior policy. It might seem like logic is going completely out the window, but there is a very logical reason for what is happening in the minds of globalists.

Stagflation comes into play through losses in certain sectors of the economy, high unemployment and the inability of wages to keep up with costs.

There is the continued dismantling of the small business sector, which, again, I believe is being destroyed deliberately. It’s not a mistake that small businesses were predominantly targeted as “non-essential” during the lockdowns. It’s also not a coincidence that the majority of COVID-19 PPP loans went to big box corporations while small businesses received almost nothing. The small business sector is being erased, leaving only the corporate sector to provide for consumers.

This may be why Democrats are so adamant about raising the federal minimum wage to $15 an hour. Wages are already rising according to market demand and region. The average non-skilled worker in the U.S. is making around $11 an hour. There is no need for the government to interfere, unless they have ulterior motives.

A $15 minimum wage would likely crush what’s left of small businesses, and only corporations that are receiving the bulk of stimulus dollars will be able to afford to pay workers the higher rate. On top of that, years from now the government could claim they “took action” to front-run stagflation by increasing people’s pay. But a $15 minimum wage is most useful to the establishment in the short term because it muddies the waters on the inflation issue.

Prices will continue to rise due to dollar devaluation, but the media and government will say that it has nothing to do with the dollar and everything to do with companies raising shelf prices to offset increased labor costs.

The Biggest Threat In The History Of American Society

I suspect that the establishment will do everything in its power to distract the public from the biggest threat in the history of American society – the stagflationary time bomb

If they admit to its existence then the public could prepare for it, and they don’t want that. If Americans were to decentralize their local economies, support local small businesses instead of big box retailers, start producing necessities for themselves, and if they started developing currency alternatives like local scrip backed by commodities… then they would be able to survive a national financial crisis.

In fact, I guarantee that any community, county or state that takes these steps will immediately be targeted by the federal government, further revealing the truth: The establishment wants the public to suffer.

They want economic disaster. They do not want people to have the option of taking care of themselves. They need people scared, desperate and malleable, or they will never achieve their Reset agenda.

*  *  *

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Tyler Durden
Mon, 03/08/2021 – 23:25

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