Reddit Outages Reported As r/WallStreetBets Experiences Surge In Web Traffic  

Reddit Outages Reported As r/WallStreetBets Experiences Surge In Web Traffic  

Reddit users are reporting issues with the website on Sunday morning, according to Downdector. The outage map appears widespread. 

Redditors began reporting issues around 0930 ET and appear heavily concentrated in the Northeast. 

Downdector Reddit 

Reddit Outage Map

While there is no official confirmation from the website of what is causing issues and outages for users, people on Downdector who are reporting the problems suggest “WSB (r/WallStreetBets) has bogged the server down.”

Others said, “reddit down again lol.” 

Someone else said, “This is the second time in less than 24 hours.” 

r/WallStreetBets has seen exponential traffic with millions of new subs over the last week. 

r/WallStreetBets Traffic

People are flocking to the stock market-centric forum because the group has allegedly sparked massive short covers in a handful of popular listed stocks, including GME and AMC. 

This weekend, we noted r/WallStreetBets’ next move could unleash the “world’s biggest short squeeze” in silver. 

Tyler Durden
Sun, 01/31/2021 – 12:00

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The Stock Market, Fatally Wounded By The Truth, Will Stumble And Crash

The Stock Market, Fatally Wounded By The Truth, Will Stumble And Crash

Authored by Charles Hugh Smith via OfTwoMinds blog,

It didn’t have to be this way, but this is the reality we must now face: truth is fatal to fraud, and our entire financial-political system is a fraud.

The stock market has just been punctured by the thin blades of truth. It is fatally wounded but nobody dares notice. The wounds are barely visible, but the internal damage is mortal. The stock market is already stumbling and will soon crash.

The banquet’s participants ignore the faltering market because the rules are we never reveal the truth, or acknowledge it, or discuss it, no matter how obvious, because truth is fatal to fraud. So the stock market’s vital signs are in freefall but the conversation remains upbeat and light: stimulus, rapid growth in the second half, etc., all the patter of a carefully constructed illusion that fraud is forever as long as the truth never comes out.

Alas, the truth has emerged from the shadows, despite the silence of the insiders and the financial media. Here are the truths that have emerged like karmic genies:

1. The stock market is nothing but one giant fraud. The entire market is corrupt and rigged from the ground up. The fraud is systemic, designed into every tendril of the market. It was a useful deception to blame it all on “bad players,” but now the truth has been revealed: the market is nothing but a rigged game enriching insiders.

2. The Fed is a fraud. All the Federal Reserve has accomplished in 13 years of goosing the stock market is unprecedented wealth and income inequality as the fraud of the Fed has boosted the fraud of the market, which has fatally undermined America’s social and economic orders. Please read this short paragraph and let it sink in. Monopoly Versus Democracy (Foreign Affairs):

Ten percent of Americans now control 97 percent of all capital income in the country. Nearly half of the new income generated since the global financial crisis of 2008 has gone to the wealthiest one percent of U.S. citizens. The richest three Americans collectively have more wealth than the poorest 160 million Americans.

Thanks to the tightly bound frauds of the Fed and markets, the bottom 90% of Americans own essentially zero capital that produces income and the vast majority of all income gains since 2008 has been siphoned off by the top 0.1% (see chart below from the New York Times.) Three monopolists own more wealth than half the nation’s citizens.

Yet the fraudsters in the Fed laughably insist their policies haven’t created inequality on such a vast scale that is has destabilized the nation. The Fed’s credibility is zero, yet the financial media tiptoes around, proclaiming the glory of the Emperor’s illusory clothing.

3. America’s system of governance is a fraud. What can we say when powerful politicians are worth over $100 million and are active participants in the most speculative excesses of the stock market, Buying More Than $1 Million In Tesla, Disney And Apple Calls In December? Do we even need to ask where their interests lie?

What can we say about a regulatory system that immediately bails out the most corrupt and destructive financiers / speculators but stands aside when the public loses trillions of dollars? The financial regulatory system is a complete fraud, devoted to bailing out the biggest insiders while ignoring the losses of the bottom 99.9%. America’s financial regulations protect the corrupt, not the citizenry.

4. The wealth effect is a fraud. The Fed’s entire fraudulent policy holds that if the stock market is goosed higher by Fed rigging, the phantom wealth handed to the top 0.1% will magically trickle down and benefit the bottom 90% who own no productive capital.

There is no magic; the wealth effect is a fraud. If one $5 stock (GameStop) can be pushed up to $400 in a week, why not push every $5 stock to $400? This is the essence of the wealth effect: all capital is phantom capital, a fraud balloon awaiting a pin.

The wealth effect failed, the Fed failed, regulations failed, politics failed. But thanks to the Fed and the self-serving political class, the entire U.S. economy is now utterly dependent on this completely corrupt and destabilizing fraud–the stock market. If the stock market stumbles and collapses, the economy–now totally dependent on phantom capital –also stumbles and collapses.

It didn’t have to be this way, but this is the reality we must now face: truth is fatal to fraud, and our entire financial-political system is a fraud. The stock market is pale, and blood is seeping through the tuxedo, but the insiders, politicos and their toadies and apologists are nervously averting their gaze.

The market’s bleeding but it can’t possibly die, can it? Yes it can, and yes it will: truth is fatal to fraud, and the truth has escaped and is now free. We can’t unsee what’s behind the curtain.

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The Adventures of the Consulting Philosopher: The Disappearance of Drake $1.29 (Kindle), $8.95 (print); read the first chapters for free (PDF)

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Tyler Durden
Sun, 01/31/2021 – 11:35

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“Biggest Storm In 5 Years?!” – More Than A Foot Of Snow Could Blanket Northeast 

“Biggest Storm In 5 Years?!” – More Than A Foot Of Snow Could Blanket Northeast 

A powerful snowstorm will impact Mid-Atlantic and Northeast states on Sunday into Tuesday. More than 100 million people are in the path of this “monumental storm,” AccuWeather Chief Broadcast Meteorologist Bernie Rayno said over the weekend. 

As we noted last week, the storm already struck parts of California with torrential rain and heavy snow, depending on altitude, due to an atmospheric river emanating from over the Pacific Ocean.  

Rayno said “from the western shores of Lake Michigan, including Chicago and Milwaukee, across northern parts of Indiana and Ohio” will see 6-12 inches of snow by Monday. 

By Sunday morning, the snow has already begun to fall in the Baltimore–Washington metropolitan area. 

The impending Nor’easter could dump “most snowfall to Philly in five years,” said CBS Philly.

Winter storm warnings from Chicago to Richmond to Baltimore–Washington metropolitan area to New York City have already been declared. 

As we’ve continued to warn about this system and how impactful it could be, more accurate snow total forecast have been posted for the Northeast. 

“Biggest storm in 5 years?! Impending Nor’easter forecast to bring the most snow to Philly since Jan. 23rd, 2016,” tweeted CBS Philly’s Lauren Casey.

Across the Northeast, precipitation will increase in intensity overnight through Monday. 

Weather models are pivoting to much colder weather in the week ahead. Meteorologists at BAMWX are forecasting “a legit colder and wintry period is coming.” 

… and what does this mean for natural gas prices? Well, BAMWX models are suggesting “16-30 day outlook from Friday AM might turn out to do pretty well. This is the first time this season I’ve seen the NAEFS go cold like this in the 8-14 day. I think a legit cold & wintry pattern looms for much of February esp. from the Plains to Great Lakes to NE.”

With colder weather on the way, US-Lower 48 heating degree days suggests energy demand to heat commercial and residential structures will increase in the first half of February. 

Commodity traders could certainly view the shift in cold weather as bullish. 

BAMWX also forecasts a “big winter storm to track next weekend too!”

Goldman Sachs will be happy… 

 

Tyler Durden
Sun, 01/31/2021 – 11:14

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Melvin Capital Lost A Stunning $5.3 Billion In January, 53% Of Its Capital; Here’s How Everyone Else Did

Melvin Capital Lost A Stunning $5.3 Billion In January, 53% Of Its Capital; Here’s How Everyone Else Did

We already knew that last’s weeks epic squeeze of the most shorted stocks was a disaster for Melvin Capital, which emerged as the first casualty of the reddit squeeze because, as we showed last Monday, it was heavily short precisely the stocks that exploded higher (mostly as pair trade offset to its retail longs such as Amazon and others) with its puts losing all value, even as the fund suffered further pain on its outright shorts.

And while we didn’t know just how much pain Melvin had suffered – especially after Ken Griffin’s Citadel (which is Robinhood’s top client and orderflow purchaser) and Steve Cohen organized a $2.75 billion bailout financing, we do now, because as the WSJ reported this morning, Melvin Capital lost 53% in January, as Gabe Plotkin (a former SAC Portfolio Manager), lost over $5.3 billion in one month.

In dollar terms, it means that Melvin lost a stunning $5.3 billion in just a few weeks thanks to r/wallstreetbets:

It started the year with about $12.5 billion and now runs more than $8 billion. The current figure includes $2.75 billion in emergency funds Citadel LLC, its partners and Mr. Cohen’s Point72 Asset Management injected into the hedge fund last Monday.

What is even more stunning is that it took just days for Citadel and Point72 to be underwater on their $2.75 billion rescue financing: “So far, Citadel, its partners and Point72 have lost money on the deal, though the precise scope of the loss was unclear Sunday.”

This also means that as the squeeze of GME and other companies continues, it is leading to billions in losses for the two funds and may explain why Robinhood – whose biggest customer is Citadel (as the WSJ separately reports 29% of Gamestop trading volume on Thursday was handled by Citadel, which means that Citadel is caught in an unprecedented conflict of interest) – was so quick to halt trading on Thursday and limit it to just one share on Friday.

With the fund now existing only on daily life support and the continued goodwill of Griffin and Cohen, it is hardly a surprise that it had to massively degross (i.e., sell all potentially problematic positions):

Melvin has massively de-risked its portfolio, said a client. People familiar with the hedge fund said its leverage ratio—the value of its assets compared with its capital from investors—was the lowest it has been since Melvin’s 2014 start. They also said the firm’s position-level liquidity, or its ability to exit securities in its portfolio easily, had increased significantly.

Alas, none of that matters. As we noted earlier today, the massive damage that some hedge funds sustained last week (and while some hedge funds indeed profited from the short squeeze, most lost money as Goldman noted last night “The typical US equity long/short fund returned -7% this week and has returned -6% YTD”) will now spark a massive redemption wave:

Here’s the problem: the short squeeze led to massive losses for some funds. It may or may not be over. But now come the redemption requests and funds will see billions cash out, forcing them to liquidate top longs (GS VIP basket)

Confirming this, the WSJ also wrote that Maplelane Capital – the hedge fund which we first said last week could be the next Melvin – ended January with a roughly 45% loss. It managed about $3.5 billion at the start of the year.

D1, which incidentally last August invested $200 million in Robinhood, ended the month down about 20%, was short AMC and GameStop, said people familiar with the fund. One of the people said D1 had exited both positions by Wednesday morning but that those were small drivers of losses. A more significant factor was shares of travel-related companies declining.

And while mounting redemptions are a clear problem, an even bigger problem is what happens to the short squeeze, because if it continues there is now a risk of a broader market selloff as Goldman cautioned last night, noting that “Unsustainable excess in one small part of the market has the potential to tip a row of dominoes and create broader turmoil.

So what happens next? Well, as the WSJ correctly notes, as part of an aggressive overhaul to the hedge fund industry, “Fewer hedge funds are likely to highlight their bearish positions by disclosing put options…  Instead, funds may use Securities and Exchange Commission rules to keep confidential those positions, a tool activist investors have long used to build positions in companies quietly. More funds also may institute rules about avoiding thinly traded, heavily shorted stocks.”

Good luck with getting the SEC to agree to confidential “short only” idea dinners especially now that shorting hedge funds have emerged as public enemy #1.

Finally, for those wondering how the rest of the industry is going, here is the Top and Bottom 20 funds summary from the latest HSBC hedge fund report. We the strikingly bad performance by Renaissance – the most profitable and secretive hedge fund in the history of the world – especially notable although we are confident that the loss in the public-facing funds is more than offset by gains for the employee-only Medallion.

 

Tyler Durden
Sun, 01/31/2021 – 10:43

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Gordon Johnson: Tesla Lost Money Selling Cars For The Fourth Straight Quarter

Gordon Johnson: Tesla Lost Money Selling Cars For The Fourth Straight Quarter

GLJ Research’s Gordon Johnson, who has been a consistent Tesla bear, has had time to review Tesla’s Q4 results and has published a note to clients noting that Tesla “lost money selling cars for the fourth straight quarter”. Johnson also points out that cost cuts have “slammed” Tesla’s margin. 

“Despite the fact Tesla sold 41,074 more cars in 4Q20 compared to 3Q20 (+29%), net profit fell $30mn QoQ,” he highlights. Johnson continues to point out the effects of price cuts on Tesla’s business:

“In short, we believe this is a “mystery” Tesla investors will likely need to come to grips with this year. Stated differently, we believe Tesla investors will have to decide if it matters if Tesla grows deliveries 50%/yr if it means net profits go down as sales increase – due to excessive price cuts as the competition is rendering TSLA’s cars irrelevant (we do not see this as a sustainable business model).”

He then asks a reasonable question about whether Tesla’s valuation makes sense, given the fact that the company’s CFO has outright disclaimed that Tesla won’t be able to rely on selling EV credits much longer:

“Stated differently, with Tesla posting a $130mn loss (excl. credits) on a record 180K in deliveries, guiding at least 749.325K deliveries on 1,050K of car capacity, expecting 1 semi to be delivered in 2021 – and the CFO outright exclaiming that the credits that have padded its net income are temporary and will go away – is owning Tesla better than owning all the other car companies combine.”

It’s a great question, but it’s been one the market has been able to ignore thus far, thanks to skyrocketing indices and out of the money call buying providing both the cover and the catalyst for Tesla’s current share price.

Johnson is right, however – at some point, reality will once again matter – the question is “when”. He notes that not only does sentiment have to continue for the share price to stay inflated, but that analysts and investors continue to have to make piece with Tesla’s ballooning A/R and other accounting anomalies.

“We remind our readers that all of this has to be accepted, despite: (1) $721mn in GAAP profit on the year vs. A/R growing from $543mn to $1,884mn (showing shareholders will likely never get “their money back” via a dividend, and Tesla does not generate cash but does generate mysterious IOU’s)(2) unit COGS flat 3Q20-to-4Q20, despite China cranking out 50% more cars (suggesting spreading fixed costs over more cars doesn’t help in audited quarters), and (3) FSD appearing years off any mass deployment.”

Finally, loud enough for the last shareholder standing in the back, Johnson plugs away at more fundamental arguments – including the fact that Tesla’s ROIC falls below the company’s cost of debt capital. 

Finally, looking to return-on-capital (“ROIC”), we note that on a last-twelve-month (“LTM”) basis, EBIT = $1,994mn, while LTM EBIT (excl. one-time credit sales of $1,580mn) = $414mn; thus, $414mn ÷ $20bn (i.e., TSLA’s total capital deployed) equates to a pre-tax ROIC of 2%, which is below the cost of TSLA’s debt capital. While this is the definition of (very) poor capital deployment, it also shows TSLA is not a software company, but rather an also-ran automotive maker – Microsoft’s ROIC in 2020 was 22.99%, and over the past 5yrs, Microsoft saw an ROIC low of 8.8%.

Tyler Durden
Sun, 01/31/2021 – 09:55

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Stimulus Checks Helped Fuel GameStop Stock Surge: Billionaire Gundlach

Stimulus Checks Helped Fuel GameStop Stock Surge: Billionaire Gundlach

Authored by Zachary Stieber via The Epoch Times,

The latest round of stimulus checks led to GameStop stock surging, according to a money manager.

“I think wherewithal from governmental stimulus ultimately is really the cause,” Jeffrey Gundlach, a billionaire bond-fund manager, said during an appearance on Fox Business.

Congress passed and then-President Donald Trump signed late last year a fresh CCP virus relief package that included $600 checks to most Americans. The checks began being sent out on Dec. 29.

GameStop stock began surging last month, spurred by retail investors urging each other to buy on a Reddit subforum. Gundlach asserted the rise was due mainly to the relief package.

“In this case, thanks to primarily, I would say, governmental policy, there’s wherewithal among investors, if you want to call them that, or speculators, with government money being sprayed all over the place, with checks to people, that they have the wherewithal to put together into a real capital base. And in this case, there were 2.1 million people that somehow got organized on Reddit and managed to get about $20 billion of buying power,” he said.

Large gains came, in part, because of short positions taken by hedge funds essentially betting on the downfall of GameStop, a video game seller.

A stimulus check issued by the IRS to help combat the adverse economic effects of the CCP virus outbreak, is seen in San Antonio, Texas, on April 23, 2020. (Eric Gay/AP Photo File)

Some posts on the subforum, WallStreetBets, support Gundlach’s position. Users wrote that they used the stimulus money to invest. “A lot of us turned that 1,200 into way more than 1,200,” one wrote this week.

But others said they invested with funds unrelated to the stimulus.

Jeffrey Sherman, deputy chief investment officer at Gundlach’s DoubleLine Funds, meanwhile, told CNBC that the retail investors could see big losses if momentum changes on GameStop, AMC, and other stocks they’ve been buying.

“I don’t think it ends well,” Sherman said.

“It’s very, very strange. This is the euphoria of market tops. I’m not saying we’re going to have an imminent crash, but it definitely reeks of bubblish-type corrections.”

“This is something where it builds hubris,” he said. “It builds confidence, and then people will get reckless with their positioning.” he added. “These things just can’t continue to persist. It is some form of collusion. But I don’t know if it’s prosecutable.”

The Securities and Exchange Commission, the top financial regulator in the United States, said Friday it was reviewing recent trading volatility with the Financial Industry Regulatory Authority (FINRA).

“We will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws,” it said in a statement. “The commission is working closely with our regulatory partners, both across the government and at FINRA and other self-regulatory organizations, including the stock exchanges, to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing.”

Tyler Durden
Sun, 01/31/2021 – 09:20

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Hackers Hold Man’s Penis For Ransom In Digital Chastity Belt, Demand Bitcoin To Unlock

Hackers Hold Man’s Penis For Ransom In Digital Chastity Belt, Demand Bitcoin To Unlock

A man who had his penis held for ransom by hackers locked in an internet-connected chastity belt spoke with Motherboard about his crazy ordeal.

Sam Summers thought it would be a good idea to strap a Chinese made chastity cage onto his penis with an app connected to the internet. He said not too long after putting on the device – a message popped up informing him that someone had taken control of the device and demanded $1k in Bitcoin to unlock it. 

“Initially, I thought it was my partner doing that,” Summers told Motherboard. “It sounds silly, but I got a bit excited by it.” 

Summers called his partner, who said she did not lock the device. He even used their “safeword.” Still, she told him it wasn’t her.

That’s the moment when he knew something was terribly wrong.  

“Oh, shit, it’s real,” Summers said. “I started looking at the thing. There’s no manual override at all. It’s a chastity belt, I guess it kind of shouldn’t [have an override.] But when it’s a digital thing like that, it should have a key or something. But it obviously didn’t.”

“I started freaking out a bit,” he added. “I was just panicking at this point.”

Motherboard said Summers is one of a handful of people late last year that bought a chastity cage device called CellMate. These devices are manufactured in China and were running on a flawed app that hackers were able to enter and lock users out of their devices.

Summers gave the hackers what they wanted, but soon they asked for more.

“That’s when I felt fucking stupid and angry,” Summers said. 

After brainstorming, he decided to use heavy-duty bolt cutters. He said the way he was holding the bolt cutters put his penis in a dangerous spot, adding that it was a “terrifying” experience. 

Summers was able to cut the chastity cage off and vowed never again to strap an internet-connected device to his body for fear that hackers would seize control of it. 

Perhaps this foolish man has learned his lesson? 

Tyler Durden
Sun, 01/31/2021 – 08:45

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Religious Books Seized And Burned In Communist China, ‘Believers’ Given Jail Terms

Religious Books Seized And Burned In Communist China, ‘Believers’ Given Jail Terms

Authored by Jocelyn Neo via The Epoch Times,

Years ago, the horrors of the holocaust paved the way for the Universal Declaration of Human Rights; however, our basic right to freedom of religion or belief is still being trampled in societies ruled by totalitarian regimes.

In communist China, practicing a certain faith, printing, or even reading religious books could result in prison terms and abuse. Spiritual believers in China – be it Christians, Buddhists, Uyghur Muslims, or Falun Gong practitioners – are faced not only with brutal suppression or forced-labor terms but also have their religious books burned or trashed at the hands of the Chinese Communist Party (CCP).

The coercive policies are aimed at forcing these religious followers to renounce their faith and follow the communist ideologies based on atheism and Marxism.

Ban on Religious Publications

According to Bitter Winter, a magazine on religious liberty and human rights in China, a Three-Self Church venue in one of the villages under the jurisdiction of Lanling County was demolished in July 2020.

A county government official told the congregation that “all churches too close to government institutions must be destroyed” and the same goes for “those that look better than government buildings.”

“Belief in the Communist Party is the only religion allowed,” the official said, according to the report.

In another report, the magazine stated that in the same month, 26 people in Jiangsu Province, China, were sentenced under the charges of “illegal business operations” for being involved in printing religious publications meant for internal circulation for the South Korean Good News Mission.

The director and two members of the mission were fined heavily and handed prison terms of 3 years and 10 months and 3 years and 6 months, respectively, while some printing house managers were fined as high as US$15,000 and sentenced to 3 years, with a probation period of 3 to 5 years.

Even postal and courier services are being strictly monitored. In another recent report, a courier company staff member from the city of Luoyang, Henan Province, told Bitter Winter that the CCP exerted “strict control over mailed goods” in the year 2020.

“Only the mailing of government-approved books is allowed. All books with ‘bad information,’ including religion, are not allowed to be dispatched. If public security authorities discover violations of these regulations, the company will be fined and closed down,” the staff member said.

A woman reads the Bible at the Christian Glory church in Wuhan on Sept. 23, 2018. (NICOLAS ASFOURI/AFP via Getty Images)

Citing yet another incident, the report said a mother of Christian faith from Jiyuan City, Henan Province, visited a post office in June 2020 to mail gospel texts to her daughter living abroad. But authorities told her that her publications were “illegal objects,” the report said.

“I knew that it was illegal to send combustible objects, drugs, guns, and ammunition, but even religious materials are now illegal,” she said.

As the communist regime is escalating its restrictions on religious publications, those in the printing industry are left in distress. A sales department manager in Luoyang City, Henan Province, told Bitter Winter in September 2020 that printing of religious materials, “especially Christian,” is not allowed.

Anyone who takes on such orders breaks the law and might be put into prison. This is the line that we absolutely can’t cross,” the manager said, according to the report.

The authorities also conduct thorough checks to make sure that the businesses are adhering to the rules.

“They checked my storehouse, scrutinized all records, and even looked at paper sheets on the floor, to see if they have prohibited content,” said a printing house manager in the same city.

“If any such content is found, I’ll be fined, or worse, my business will be closed. Any religious content makes the issue political, not religious. Although banners on the streets say people are allowed religious beliefs, the only faith they can practice freely is that in the Communist Party,” he added.

A worker operating machinery in a printing factory in Nanjie Village, in China’s central Henan Province, on Sept. 26, 2017. (GREG BAKER/AFP via Getty Images)

The magazine reported in 2019 that the communist regime is also attempting to “sinicize” the Bible by forcing clergymen to interpret the teachings based on the Marxist and socialist ideologies.

“This is a distortion of the Christian faith. It is the work of the devil,” a Three-Self preacher told Bitter Winter. 

“The situation is becoming increasingly dire; the government [the CCP] is increasing pressure step by step. In the end, they want to eliminate religious belief completely.”

Trashing and Burning Religious Books

Apart from banning the spiritual publications, the Chinese authorities spare no efforts in confiscating religious books that aren’t officially approved by the CCP.

In March last year, the local authorities demolished a Three-Self church in Jining City’s Yutai County after deeming it an “illegal construction.”

“Officials stormed into our church before we even finished collecting our belongings,” a congregation member told Bitter Winter. “They tore up all Bibles and images of the Lord Jesus.”

Chen Yu, the owner of a Christian online bookstore in Taizhou City, Zhejiang Province, was sentenced to seven years and fined 200,000 yuan (US$31,000) for “selling unapproved religious publications imported from Taiwan, the United States, and other countries,” according to an October 2020 report by International Christian Concern. The authorities also planned to destroy the 12,864 Christian books from his bookstore.

Dictating full control over spiritual followers by destroying religious books and demolishing places of worship is nothing new for the CCP in order to advance its authoritarian reign. As a regime rooted in atheism and materialism, the communist party has been cracking down on religious and spiritual groups constantly since it came to power in 1949.

When the CCP launched the decade-long Cultural Revolution in 1966, temples were looted, and scrolls, books, relics, and even Buddha statues were burned.

The Buddha statues destroyed in the Cultural Revolution, which lasted from 1966 to 1976. (Pat B/CC BY-SA 2.0)

A few decades later in July 1999, the then-leader of the CCP, Jiang Zemin, ordered the eradication of the spiritual practice of Falun Gong (also known as Falun Dafa), an ancient meditation system based on the principles of truthfulness, compassion, and forbearance.

The Public Security Bureau then issued official documents prohibiting the display of any symbols or images associated with the Falun Gong practice and possessing or distributing its books, according to Falun Dafa Information Center.

Minghui.org, a U.S.-based website dedicated to documenting the persecution of Falun Gong, compiled a report, which includes several news reports documenting the CCP’s “nationwide unified destruction” of millions of Falun Gong publications, namely books and videotapes, by throwing them into a pulping machine or burning them.

Falun Gong books are set on fire in Shouguang City, China’s eastern Shandong Province, on Aug. 4, 1999. Chinese authorities in cities across China burned millions of Falun Gong books and materials after the communist regime launched a campaign to persecute the spiritual practice in July 1999. (STR/XINHUA/AFP via Getty Images)

Since then, countless Falun Gong practitioners have been arrested, imprisoned, and tortured, with some even having their organs harvested. Many of them were arrested for refusing to renounce their faith or for possessing the books.

In its full report on the “Public Destruction of Books and Tapes,” Minghui cited several cases reported by foreign journalists, state-run newspapers in China, eyewitnesses, and adherents of Falun Gong confirming that millions of publications were trashed, burned, and torn apart during the mass-destruction activities.

Falun Gong books being crushed under a road roller during the 1999 nationwide destruction of the spiritual practice’s publications and materials. (ClearWisdom.net/CC0 1.0)

Although Buddhism is one of the recognized religions in China, the Buddhist temples and their followers are still being targeted by the authorities.

Bitter Winter reported that the government officials in Shanxi Province confiscated nearly 882 pounds (approx. 400 kg) of religious books and CDs from Fengci Temple in October 2020. In the same month, some impoverished households in Ganzhou City, Jiangxi Province, were ordered to burn the Buddhist books in the Foguang Temple or else risk having their minimum subsistence allowance revoked.

In the 2020 springtime, the religious books and CDs were burned in the Reclining Buddha Mountain Temple in Ulanqab City in China’s Inner Mongolia, according to the report.

“Those books and CDs were burned in the incense burner for three to four days,” a Buddhist from Ulanqab City said.

“The rest of religious books and CDs were taken away in a fully loaded truck. The CDs alone weighed three to four hundred kilograms.”

Tyler Durden
Sun, 01/31/2021 – 08:10

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Terror ‘Masterminds’ At Gitmo To Receive COVID Vaccine Before 95% Of Americans

Terror ‘Masterminds’ At Gitmo To Receive COVID Vaccine Before 95% Of Americans

”You can’t make this up,” Tom Von Essen, the New York City fire commissioner during the 9/11 attack, was quoted as saying in Newsmax. ”The ridiculousness of what we get from our government. They will run the vaccine down to those lowlifes at Guantanamo Bay before every resident of the United States of America gets it is the theater of the absurd.

That’s right, guess who’s first in line to get the jab? The New York Post reported Friday:

Here’s a real kick in the shin: chances are accused 9/11 mastermind Khalid Sheikh Mohammed will get the COVID vaccine before you do.

Accused terror masterminds like KSM and other detainees at Guantanamo Bay will begin receiving the coronavirus vaccine, the Pentagon confirmed Friday, even as the United States continues to experience severe shortages of the miracle jab.

Naval Station Guantanamo Bay, Cuba. US Army image

The Pentagon confirmed to the Post that prisoners at the US Naval Base in Guantanamo Bay in Cuba could get the vaccine as early as in the coming week.

”It will be administered on a voluntary basis and in accordance with the Department’s priority distribution plan,” DoD spokesman Michael Howard said.

This means about forty terror suspects, including the man deemed the ‘mastermind’ behind the 9/11 attacks which killed almost 3,000 Americans, will likely receive the vaccine before hundreds of millions of US citizens. 

The NY Post report cites another understandably outraged former law enforcement official:

Brian Sullivan, a retired special security agent with the Federal Aviation Administration, said, “I’m incensed. It’s totally outrageous. I’m 75. I haven’t gotten my COVID vaccine. They’re going to give it Khalid Sheikh Mohammed?”

Sullivan added it’s a scandal that the terrorists haven’t faced justice approaching the 20th anniversary of the Sept. 11 attacks. “This news adds insult to injury. It’s slap in the face to the 9/11 victims’ families,” Sullivan said.

“The order to administer the inoculations was signed Wednesday by Terry Adirim, the principal deputy assistant secretary of defense for health affairs, an appointee of President Joe Biden who was sworn in on Inauguration Day,” it was revealed

Via AP

The other interesting angle to the story is that this action is presumably being taken to prevent a broader COVID-19 outbreak among federal and military administered prisons – and yet, the shot will still be “voluntary” for the terror suspect inmates.

Given there will likely come a time when common American citizens will be told something to the effect of “take the shot or else…consequences/ repercussions” (for example in the form of job or travel restrictions – rhetoric which is already being entertained), it’s a bit ironic that the most dangerous terror suspects held at Gitmo will have “freedom” to choose to get vaccinated or not.

Tyler Durden
Sun, 01/31/2021 – 07:35

via ZeroHedge News https://ift.tt/2Mlmo99 Tyler Durden