Biden To Ban Investments In 59 Chinese Companies Including Huawei And China’s Largest Chipmaker

Biden To Ban Investments In 59 Chinese Companies Including Huawei And China’s Largest Chipmaker

As we first previewed yesterday, President Biden on Thursday signed an executive order banning investments in 59 companies, including marquee Chinese groups such as Huawei, the telecoms equipment manufacturer, and Semiconductor Manufacturing International Corporation, China’s largest chipmaker, which US intelligence says is critical to the Chinese military. Other notable companies included are Aviation Industry Corporation of China, China National Offshore Oil Corporation, China Railway Construction Corporation, China National Nuclear Corporation, China Mobile, Zhonghang Electronic, Jiangxi Hongdu Aviation, as well as telecom giantsChina Mobile, China Telecom and China Unicom.

The executive order, which prohibits direct investment in both debt and equity securities, but also bans Americans from investing in funds that contain Chinese securities in their portfolios, is meant to stop US capital from being used by China to undermine national security.

The new treasury list, which supersedes an EO first signed by Trump, will replace the existing department of defense lists of companies with alleged ties to Chinese military, and is part of a broader series of steps by the administration to counter China. The order will amend the Trump order (and list) to make it broader and more legally defensible in court

The US Treasury will oversee enforcement of the list, which will be updated on a rolling basis with new companies.

As the FT adds, senior US officials said the ban would take effect on August 2. But investors can make trades during the next 12 months to divest their holdings. While Americans are not required to divest the securities, they will be unable to sell their holdings after the one-year period has elapsed.

“The new executive order signals the administration’s intent to sustain and build on prohibitions on Chinese defence companies in order to ensure that US persons are not financing the military industrial complex of the People’s Republic of China,” said one senior US official. “The prohibitions are intentionally targeted and scoped to maximise the impact on the targets while minimising harm to global markets.”

Biden’s order is an extension of a similar order signed late last year by Donald Trump which banned investments in companies that the Pentagon put on a list of groups with suspected links to the People’s Liberation Army. But the move caused confusion in financial markets because it came with little guidance about implementation. US courts also later ruled that the government had not provided sufficient evidence in some cases to justify putting a company on the target list.

The senior officials said Biden’s order would ensure that the investment ban was on stronger legal footing. They added that it would expand the Trump order to include surveillance companies, including Hikvision, that are accused of helping Beijing persecute more than 1m Muslim Uyghurs who have been held in detention camps in the northwestern region of Xinjiang.

Later on Thursday the Pentagon is expected to release an updated version of its list of Chinese companies with PLA connections, after Congress required the defence department to provide a new list each year. But the senior official said the Pentagon list would have no bearing on the investment ban outlined in the new executive order.

The official said the Pentagon list would give it “flexibility to message publicly to a wide range of stakeholders about companies that have a wide range of linkages to the different parts of the Chinese government”.

And now we wait for China’s response which will hardly be favorable as Beijing was confident that by “investing” in Hunter Biden, all such unpleasantries could be avoided.

 

 

Tyler Durden
Thu, 06/03/2021 – 13:53

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Why Did It Take Stanford So Long to Recognize This Satirical Flyer As Protected Speech?


Wallace-Federalist-Society-flyer

In 1983, Hustler magazine ran a Campari ad parody featuring Moral Majority leader Jerry Falwell’s description of his “first time”—a “drunken incestuous rendezvous with his mother in an outhouse,” as the Supreme Court would later describe it. After Falwell sued Hustler for libel and intentional infliction of emotional distress, the Court unanimously ruled that the magazine’s obviously facetious description of the televangelist’s sex life was protected by the First Amendment.

Although Hustler Magazine v. Falwell, decided in 1988, is a famous free speech case, it did not prevent the leaders of Stanford Law School’s Federalist Society chapter from complaining that third-year student Nicholas Wallace had defamed them, their organization, and two Republican politicians by distributing a satirical flyer that mocked the group’s ties to lawyers who participated in former President Donald Trump’s vain attempt to stop Joe Biden from taking office. Nor did it prevent university officials from launching an investigation of Wallace, who was scheduled to graduate on June 12, and jeopardizing his career by putting his diploma on hold in the meantime.

The law school reconsidered that decision after Wallace’s predicament attracted national attention, drew bipartisan criticism, and provoked a detailed rebuke from the Foundation for Individual Rights in Education (FIRE). “In cases where the complaint is filed in proximity to graduation, our normal procedure includes placing a graduation diploma hold on the respondent,” a university spokesman told The New York Times last night. “The complaint was resolved as expeditiously as possible, and the respondent and complainant have been informed that case law supports that the email is protected speech.”

It took the university more than two months to reach that conclusion, which FIRE thinks should have been obvious from the outset. “If ‘normal procedures’ and review by a university attorney let an investigation into political satire proceed, something is wrong with the procedures,” it says. “It should not take outrage from Twitter and a United States Senator to protect political satire at any institution of higher education.”

FIRE is referring to Sen. Brian Schatz (D–Hawaii), who called attention to the case on Twitter yesterday. “How is this taking any longer than 15 minutes for them to reverse and apologize?” he wondered. It’s a good question.

Wallace’s ersatz Federalist Society announcement, which he shared with other students via Stanford Law School’s “law-talk” listserv on January 25, described an event featuring Sen. Josh Hawley (R–Mo.), who played a leading role in the challenges to Biden’s electoral votes on the day of the January 6 Capitol riot, and Texas Attorney General Ken Paxton, who filed a quixotic lawsuit seeking to overturn the election results and addressed Trump’s supporters at the “Save America” rally that preceded the riot. The subject line of the email was “The Originalist Case for Insurrection,” which was the first clue that it was a joke.

There were others. The Federalist Society event supposedly was scheduled for January 6, 19 days before Wallace distributed the flyer. Although Wallace used the group’s logo (just as the Hustler ad parody featured a photo of Falwell), the email was not sent from a Stanford Federalist Society address, and it was not distributed on the “law-announce” listserv used to promote actual events. The flyer featured a picture of Paxton speaking at the January 6 rally and a notorious photo of Hawley raising his fist in support of pro-Trump demonstrators as he entered the Capitol that day. It said “riot information will be emailed the morning of the event,” and “the first thirty students to RSVP will receive a $10 Grubhub coupon to be used the day of the event.”

Here is how Wallace described the event:

Please join the Stanford Federalist Society as we welcome Senator Joshua Hawley and Texas Attorney General Ken Paxton to discuss violent insurrection. Violent insurrection, also known as doing a coup, is a classical system of installing a government. Although widely believed to conflict in every way with the rule of law, violent insurrection can be an effective approach to upholding the principle of limited government. Senator Hawley will argue that the ends justify the means. Attorney General Paxton will explain that when the Supreme Court refuses to exercise its Article III authority to overturn the results of a free and fair election, calling on a violent mob to storm the Capitol represents an appropriate alternative remedy.

The main premise of the Stanford Federalist Society’s complaint about Wallace’s phony flyer was that recipients would think this was a real event, an assumption that hardly reflects well on the organization’s reputation or the intelligence of Stanford law students. “Wallace defamed the student group, its officers, Senator Josh Hawley, and Texas Attorney General Ken Paxton,” one of the group’s officers (whose name is obscured in the copy of the email posted by FIRE) said in a March 27 complaint accusing Wallace of violating Stanford University’s “Fundamental Standard,” a code of conduct established in 1896. “Wallace, impersonating the Stanford Federalist Society, wrote on the flyer that ‘Riot information will be emailed the morning of the event,’ insinuating that the student group was encouraging and hosting a riot. He also wrote that Attorney General Paxton advocates for ‘overturn[ing] the results of a free and fair election’ by ‘calling on a violent mob to storm the Capitol.’ And he wrote that Senator Hawley believes that violent insurrections are justified.”

The author of the complaint seemed to have a weak grasp of how parodies work. “Wallace clearly impersonated the Stanford Federalist Society through his event flyer,” the complaint says. “First, he included a line at the top of the flyer saying that ‘The Stanford Federalist Society presents’ the advertised event. Second, he included the Stanford Federalist Society’s logo near the bottom of the flyer. Third, the body of the event flyer identified the Stanford Federalist Society as the host. Moreover, he used the same distinctive template that the organization uses to advertise its other (real) events. This template is easily recognizable to other students. Nowhere in his email, nor on his flyer, did Wallace explain that these representations of identity were false.”

It is bad enough that a law school student representing an organization that believes “the state exists to preserve freedom” and supports “open debate about the need to enhance individual freedom” thought Wallace’s political satire qualified as defamation, meaning it was illegal and a justification for court-awarded damages. It is worse that Stanford officials, who notified Wallace on May 27 that his diploma was on hold, took that claim seriously at all, let alone for more than two months.

In his June 1 letter to Assistant Dean Tiffany Gabrielson, associate director of Stanford’s Office of Community Standards, Adam Steinbaugh, director of FIRE’s Individual Rights Defense Program, notes that the university, as a private institution, is not bound by the First Amendment. But he argues that its unjustified investigation of Wallace violated Stanford’s “commitment to freedom of expression.”

The university’s Fundamental Standard says “students at Stanford are expected to show both within and without the University such respect for order, morality, personal honor and the rights of others as is demanded of good citizens.” It adds that “students are expected to respect and uphold the rights and dignity of others regardless of race, color, national or ethnic origin, sex, age, disability, religion, sexual orientation, gender identity, or socio-economic status.” But it also says “students are expected to uphold the integrity of the university as a community of scholars in which free speech is available to all and intellectual honesty is demanded of all.”

As Stanford’s Office of Community Standards explains, the university’s commitment to free speech means that students cannot be punished merely for posting “something hurtful and offensive.” Although “we sincerely hope that members of our community will express themselves in a respectful manner that does not cause harm to others,” it says, “a commitment to academic and personal freedom means that many statements that may conflict with our ideals cannot be subject to discipline under the Fundamental Standard.”

Even if the university’s own policies allowed such punishment, the office notes, a California statute known as the Leonard Law “restricts Stanford’s ability to discipline students for engaging in protected speech.” That law, which Steinbaugh also mentions in his letter to Gabrielson, “holds private universities to the same [free speech] standard” as public universities.

In short, it should have been clear from the beginning that Wallace’s satirical flyer was protected speech and that punishing him for it would violate both the university’s promises and state law (whatever one might think of that law’s merits). “That Stanford would initiate an investigation into a student for sending a satirical email to his peers would be laughable if the stakes weren’t so high for a student on the cusp of graduation,” Steinbaugh says. “Stanford’s investigation into satire doesn’t pass the laugh test. Satire is not defamation, and no university of any caliber should investigate whether it should be allowed.”

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“Make Money While Parked” – Canada’s Daymak Unveils World’s First Crypto-Mining EV

“Make Money While Parked” – Canada’s Daymak Unveils World’s First Crypto-Mining EV

Daymak Inc, a Canadian electric vehicle manufacturer, has debuted a three-wheel EV resembling a spaceship that includes cryptocurrency mining technology that allows the vehicle to mine while parked. 

Here’s the head-turning section of Daymak’s latest press release, explaining its upcoming Spiritus electric car would be capable of mining cryptocurrencies while parked.

Effective today, Daymak is accepting Spiritus pre-order payments in a multitude of cryptocurrencies including Doge, Ethereum, Cardano, and Bitcoin, making it one of the first LEV manufacturers to do so.

Every Spiritus vehicle will be a node on the Blockchain, and will include Daymak Nebula Miner and Nebula Wallet.

Daymak Nebula technology makes Daymak Spiritus the first car in history with mining hardware and cryptocurrency technology programmed into the user interface.

As an emission-free daily driver with solar charging capabilities, Nebula infrastructure turns Daymak’s Spiritus vehicles into environmentally-friendly crypto miner nodes, which is an unprecedented milestone in the rapid evolution of blockchain technologies.

The software that controls the mining is called Daymak Nebula, and this allows the vehicle to make the operator money while not being used, theoretically making the operator enough money to cover charging costs, tolls, and or even possibly covering some of the monthly car payment. So far, the vehicle appears to only be in render format. However, the company said Spiritus and the Avvenire Series would launch in 2023. 

“The Spiritus car is for those who want more in life, and we are committed to putting our customers ahead of the curve. We envision a future where your highway tolls, your parking, and your drive-thru order will be paid directly on the fly with crypto,” said Aldo Baiocchi, President of Daymak.

“Your online bills and your banking can be handled through the same software platform paid in crypto. And whereas most vehicles are depreciating while they sit in your garage, the Nebula Miner will make you money while your Spiritus is parked. The potential applications are limitless,” said Baiocchi. 

It’s only a matter of time before Elon Musk updates Tesla OS to mine Doge… 

Tyler Durden
Thu, 06/03/2021 – 13:40

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Do Global Elites Use These 3 Giant Financial Companies To Control 88% Of S&P 500-Listed Firms?

Do Global Elites Use These 3 Giant Financial Companies To Control 88% Of S&P 500-Listed Firms?

Authored by Michael Snyder via The End of The American Dream blog,

There is no question that large corporations absolutely dominate our society today.  They control what we eat, they control what we watch on television, they own most of the stores that we shop at, they provide the energy that our nation depends upon, and they make almost all of the products that we use.  Tens of millions of Americans make a living by serving these colossal firms, and at this point some of the biggest corporations are larger than many small countries.  But of course the corporations aren’t the top of the food chain.  They have owners, and there are 3 giant financial companies that the global elite use to control 88 percent of the corporations that are currently listed on the S&P 500.

The three financial companies that I am talking about are BlackRock, Vanguard and State Street.

According to CNN, those companies have a combined 15 trillion dollars in combined assets under management…

BlackRock, Vanguard and State Street manage a stunning $15 trillion in combined assets, equivalent to more than three-quarters the size of the US economy.

But that is actually an old number.

I wanted to come up with a newer number, and so I started digging.

According to Wikipedia, BlackRock had $8.67 trillion in assets under management as of January 2021…

BlackRock, Inc. is an American multinational investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $8.67 trillion in assets under management as of January 2021.[citation needed][6] BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.[7]

Vanguard is nearly as big.  According to Wikipedia, Vanguard had $6.2 trillion in assets under management as of January 2021…

The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania with about $6.2 trillion in global assets under management, as of January 31, 2020.[5] It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.[6] In addition to mutual funds and ETFs, Vanguard offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management.[7]

While not as large as the other two, State Street had $3.1 trillion in assets under management as of the first month of this year.

So adding those numbers up, the “big three” had almost 18 trillion dollars in assets under management in January 2021, and that number is almost certainly quite a bit higher by now.

That is a giant pile of money that is almost impossible to imagine.

Sometimes people forget just how much money a trillion dollars is.  If you were alive when Jesus was born and you spent a million dollars every single day since then, you still would not have spent a trillion dollars yet.

Collectively, the “big three” represent the largest ownership blocks in 88 percent of the companies that are currently listed on the S&P 500…

Combined, BlackRock, State Street and Vanguard are the largest owner in 88% of the S&P 500 companies, according to a paper published Tuesday by the American Economic Liberties Project, a group that launched in February taking aim at what it sees as excessive corporate power. For instance, the Big Three hold leading stakes in companies including Apple (AAPL), JPMorgan Chase (JPM) and Pfizer (PFE).

Being the largest owner of a publicly traded company doesn’t mean that you can do whatever you want, but it does give you enormous power.

For example, last month BlackRock and Vanguard were instrumental in installing two new members on ExxonMobil’s board of directors

BlackRock and Vanguard were among the major shareholders whose votes helped to install two new members on ExxonMobil’s board of directors, dealing the oil giant a major defeat in the election of board members at this year’s annual (virtual) shareholders meeting.

The two fund giants, which together own approximately 14% of ExxonMobil shares, according to reports, supported portions of a dissident slate of board nominees brought by a Engine No. 1, an activist, purpose-driven investment firm that sees ExxonMobil’s response to the global climate crisis as far too weak to help achieve net zero emissions by 2050, putting shareholder value at risk. Engine No. 1 put forth a slate of four nominees, all with experience in the oil and gas or renewable energy industry.

ExxonMobil did not want these new board members, but now they have been forced to take them.

And these new board members will help to ensure that ExxonMobil becomes more fully aligned with the climate agenda of the global elite.

For those in the global elite, it is much easier to use money and power to enact change through corporate structures than it is through various governmental bodies around the globe.

In fact, many would argue that in 2021 corporations have far more of an impact on our day to day lives than any governmental entities do.

Unfortunately, we can’t do much to alter how those corporations behave because they answer to their owners.

At this point, one of the reasons why it seems like so many corporations have a similar culture is because so many of them are controlled by the exact same people at the very top.

If you do not conform, you are a lot less likely to be hired by one of these corporations, and if you do get hired you are not likely to rise very far through the ranks.

We need to start talking a lot more about “corporate tyranny”.  Because even though governmental entities may still claim to protect “liberties” and “freedoms”, the truth is that those that reject the culture that is being pushed on them by the global elite will be increasingly marginalized on the fringes of society.

America’s founders were very suspicious of all large concentrations of power.  Today, wealth and power are more concentrated in our society than ever before, and that is not a good thing.  In fact, this is an existential threat to our way of life, but not that many people are focusing on this.

And don’t expect our politicians in Washington to do anything.  They want to keep the campaign donations flowing, and so very few of them are ever interested in confronting the big money interests on Wall Street.

*  *  *

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
Thu, 06/03/2021 – 13:23

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AMC Jumps After Announcing It Already Completed Its $587 Million Share Offering At $50.85 Average Price

AMC Jumps After Announcing It Already Completed Its $587 Million Share Offering At $50.85 Average Price

In a day when AMC has already traded a whopping $14.4BN in stock, making it the most traded name in the market surpassed the runner up TSLA by 100%…

… it is probably not a surprise that amid this epic volume, the at the market offering announced earlier today by the company has already been absorbed and moments ago AMC announced that it had completed its stock offering, raising $587.4 million in new capital from the sale of 11.55 million shares at an average price of $50.85.

Commenting on the second capital raise in three days, AMC CEO Adam Aron said that “bringing in an additional $587.4 million of new equity on top of the $658.5 million already raised this quarter results in a total equity raise in the second quarter of $1.246 billion, substantially strengthening and improving AMC’s balance sheet, providing valuable flexibility to respond to potential challenges and capitalize on attractive opportunities in the future.”

AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC” or “the Company”), announced that it has completed its 11.550 million share at-the-market (“ATM”) equity program launched earlier today. AMC raised approximately $587.4 million of new equity capital, before commissions and fees, at an average price of approximately $50.85 per share.

Commenting on the capital raise, AMC President and CEO Adam Aron said, “Bringing in an additional $587.4 million of new equity on top of the $658.5 million already raised this quarter results in a total equity raise in the second quarter of $1.246 billion, substantially strengthening and improving AMC’s balance sheet, providing valuable flexibility to respond to potential challenges and capitalize on attractive opportunities in the future.”

The stock, after tumbling as low as $38 earlier in the day, has spiked on the news and is already more than 10% higher compared to the average sale price as the reddit army returns with a vengeance.

Tyler Durden
Thu, 06/03/2021 – 13:09

via ZeroHedge News https://ift.tt/3fK2bpE Tyler Durden

Bill Gates And Warren Buffett Team Up To Build Advanced Nuclear Plant In Wyoming 

Bill Gates And Warren Buffett Team Up To Build Advanced Nuclear Plant In Wyoming 

For the first half of the year, Zero Hedge has been especially constructive on the uranium sector (read: hereherehere), which we believe uranium companies will get a boost as ESG euphoria takes hold. In some of the first signs of a nuclear revival in the US after decades of neglect, billionaire Bill Gates’ advanced nuclear reactor company TerraPower LLC and Warren Buffett’s PacifiCorp have been chosen by Wyoming to build the first Natrium reactor project, according to Reuters

Wyoming Governor Mark Gordon announced Wednesday that the state has partnered with TerraPower, Rocky Mountain Power, and PacifiCorp to build a Natrium reactor at a retiring coal plant within seven years. 

The nuclear plant will replace one of PacifiCorp’s coal-fired plants, Gordon said. He said the ability to use nuclear power would allow the state to maintain its future goals of becoming carbon negative while using fossil fuels. 

“I am not going to abandon any of our fossil fuel industries. It is absolutely essential to our state,” Gordon said.

Chris Levesque, president and CEO of TerraPower, said, “together with PacifiCorp, we’re creating the energy grid of the future where advanced nuclear technologies provide good-paying jobs and clean energy for years to come. The Natrium technology was designed to solve a challenge utilities face as they work to enhance grid reliability and stability while meeting decarbonization and emissions-reduction goals.”

“This project is an exciting economic opportunity for Wyoming. Siting a Natrium advanced reactor at a retiring Wyoming coal plant could ensure that a formerly productive coal generation site continues to produce reliable power for our customers,” said Gary Hoogeveen, president and CEO of Rocky Mountain Power, a division of PacifiCorp. “We are currently conducting joint due diligence to ensure this opportunity is cost-effective for our customers and a great fit for Wyoming and the communities we serve.”

The location of the Natrium demonstration plant is expected to be announced later this year. 

The project features a 345-megawatt sodium-cooled fast reactor with molten salt-based energy storage to boost the system’s power output to 500-megawatt during peak demand hours. The plant is expected to cost $1 billion. 

TerraPower explains how the Natrium technology works. 

Uranium bulls have been increasingly convinced about the sector’s prospects, as prices have trended after roughly a decade in the dirt. 

Will nuclear be the next “ESG Craze”? Hugh Hendry and Michael Burry (two iconic hedge fund managers) have both jumped on the atomic trend earlier this year, with Burry calling on the liberals to “convert the US to nuclear,” adding the hashtag #greenfuturenow.

Lately, Larry McDonald of The Bear Traps Report, said, “Uranium prices double over the next 12 months. High conviction. It’s the pure, centrist green energy play, Nuclear power.” 

McDonald said the top nuclear plays are “Nexgen, Denison, CCJ, URA ETF.” 

Gates appears to be riding the ESG wave as his first big opportunity to plug Terrapower into the Wyoming power grid could happen by 2028 or before. 

Tyler Durden
Thu, 06/03/2021 – 13:06

via ZeroHedge News https://ift.tt/3pi1Ptj Tyler Durden

MSNBC Holds Fauci’s Hand Through First Damage Control Interview Since ‘Email-Gate’

MSNBC Holds Fauci’s Hand Through First Damage Control Interview Since ‘Email-Gate’

Having apparently seen his book pulled, as backlash builds against Dr. Anthony Fauci – as his ‘untouchableness’ becomes vulnerable amid an avalanche of inflammatory emails suggest the flip-flopping bureaucrat was anything but honest with the American people.

And so, the National Institute of Allergies and Infectious Diseases Director first appearance in public since his emails from the early days of COVID-19 were released to journalists was on MSNBC… of course.

As Summit News’ Paul Joseph Watson notes,despite released emails highlighting innumerable cases of Dr. Anthony Fauci’s bumbling response to the COVID-19 outbreak, an MSNBC host said the emails made Fauci “look good” during a pathetic softball interview.

Yes, really.

Despite the fact that the emails reflect terribly on Fauci, Nicole Wallace used the first interview with Fauci since the scandal broke to obsequiously genuflect over his behavior.

“I wonder if you feel like you’re still making up some of that lost ground from many months under the last administration from not just no information but disinformation out there,” said Wallace.

Presumably she’s been hiding under a rock for the last 3 weeks as what the media and Fauci once called “disinformation,” the Wuhan lab leak theory, is now having to be treated with seriousness it deserves.

The true mark of someone is that they look good even when their personal emails come out,” said Wallace, while laughing and smiling at Fauci. “So you pass a test very few of us would pass.

What planet is she living on?

Among other things, Fauci’s emails reveal;

  • How he decided to deliberately dismiss the Wuhan lab leak theory early on despite being warned by scientists that the virus looked “engineered”.

  • How he helped out and was thanked by Dr. Peter Daszak, someone with intimate ties to the Wuhan lab, for publicly discrediting the lab leak theory.

  • How he said face masks were useless because the virus could pass through them before going on to promote the use of face masks.

  • How Fauci committed perjury by denying he was involved with ‘gain of function’ research at the Wuhan lab, despite this being documented in the emails.

  • How Fauci responded to an email from a physicist who tried to warn him that China was engaged in a COVID cover-up with the words “too long for me to read.”

  • How Fauci conspired with Facebook’s Mark Zuckerberg to control the narrative on COVID-19.

Of course, Wallace asked Fauci about absolutely none of the above.

And the media wonder why they are so reviled.

Wallace’s groveling opinion isn’t apparently shared by White House officials, who are reportedly preparing for Fauci to make a quiet exit in a bid to avoid further fallout from the emails.

Fauci also appeared on MSNBC’s “Morning Joe” this morning, and the adulation continued (with little to no actual journalistic pushback on any of his monologues).

As SaraACarter.com reports, first, Fauci was asked about the purported Wuhan lab leak.

While it is currently being investigated by U.S. officials, back in April of 2020, Fauci was emailing back and forth with National Institute of Health Director Dr. Francis Collins about how it was a “conspiracy theory.”

Now, the Chief Medical Advisor is walking back the email, telling host Willie Geist “we don’t know that for sure.”

Fauci re-admitted that he “can’t guarantee everything that is going on in the Wuhan lab” in the wake of criticism after a trove of his emails were published Tuesday.

It was just trying to get the right information, to try and get the right data. What they didn’t seem to understand, I guess that it is understandable that they didn’t understand it, is that science is a dynamic process,”

But a manmade origin was “low on the list of what we thought the likelihood was.” On Thursday, he asked everyone to “keep an open mind” about COVID-19 origins.

Fauci also appeared on MSNBC’s Deadline Wednesday as his first appearance since the news broke. When asked about his emails then, he tried to look on the bright side.

“There’s no doubt that there are people out there who for one reason or another resent me for what I did in the last administration,” Fauci said.

But, at the very least, his emails were “not anti-Trump at all” he added.

“You look at my emails, I never said anything derogatory about President Donald Trump,” Fauci said.

We give the last word to Naomi Wolf…

We humbly suggest Dr. Wolf has had many other opportunities in recent years to be “ashamed of [her] profession.”

Tyler Durden
Thu, 06/03/2021 – 12:40

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

The Hacks Keep On Comin’: Mass. Ferry Service Suffers Cyberattack; New York’s MTA Admits April Breach

The Hacks Keep On Comin’: Mass. Ferry Service Suffers Cyberattack; New York’s MTA Admits April Breach

In what is certain to be a recurring theme that has already been thrust into prominence with recent ransomware hacks of the Colonial Pipeline and JBS, the world’s largest meat producer, cybercriminals struck yet another target on Wednesday: the US state of Massachusetts ferry system. Additionally, the MTA admitted this week that it was the target of an April attack.

Service between several upscale northeastern coastal communities was disrupted as a result of the ferry system attack, according to AFP. The attack was reported by The Steamship Authority of Massachusetts, which offers ferry service between Cape Cod, Nantucket and Martha’s Vineyard.

The Authority tweeted out: “There is no impact to the safety of vessel operations, as the issue does not affect radar or GPS functionality.”‘

However, the hack did hit the Authority where it could arguably hurt worse: its payment system. The ferry was temporary limited to cash (gasp) after it lost its ability to process credit cards. On Facebook, the Authority wrote that it was “…unable to release or confirm specific details of what occurred,” but that it was working with local, state, and federal officials to figure out the incident. 

In keeping with the theme of mass transit, the Metropolitan Transportation Authority (MTA) revealed on Wednesday that it was also hacked on April 20. 

The group believed to be responsible for the MTA hack is said to have links to the Chinese government, the NY Times reported Wednesday. A follow up audit after the attack revealed “no signs that the operating systems had been affected, or that the hackers accessed information of clients or employees”. 

“The hackers did not gain access to systems that control train cars and rider safety was not at risk,” transit officials said, according to the NY Times. However, there was residual concern that these systems could be breached through a back door, according to MTA documents. 

“The attack on the M.T.A. did not involve financial demands and instead appears to be part of a recent series of widespread intrusions by sophisticated hackers believed to be backed by the Chinese government,” the Times wrote. The MTA was one target out of a group of “dozens” of federal agencies, the report notes.

Rafail Portnoy, the M.T.A.’s chief technology officer, said: “The M.T.A.’s existing multilayered security systems worked as designed, preventing spread of the attack. We continue to strengthen these comprehensive systems and remain vigilant as cyberattacks are a growing global threat.”

But the growing theme not only of targeting mass transit – but also of ransomware attacks in general – are both worth keeping a close eye on, as these feel like anything but isolated incidents.  

Recall, we reported earlier this week that the FBI had confirmed Russian-linked “REvil and Sodinokibi” groups were behind the ransomware attack on JBS meat processing facilities this week. The cyberattack forced the shutdown of all JBS’ US beef plants, which account for almost a quarter of American supplies. 

“On Sunday, 30 May, JBS USA determined that it was the target of an organized cybersecurity attack, affecting some of the servers supporting its North American and Australian IT systems”, JBS said at the time. 

JBS Facilities 

This followed suit from last month, when hackers made away with $5 million in ransom after attacking the Colonial Pipeline. 

The attack on Colonial was called “potentially the most substantial and damaging attack on U.S. critical infrastructure ever,” by Ohio Senator Rob Portman. 

Once the ransom was paid, the hackers provided Colonial with a decrypting tool to restore its computer system, but “the tool was so slow that the company continued using its own backups to help restore the system, one of the people familiar with the company’s efforts said.”

The FBI accused hack group DarkSide of the ransomware attack. Besides Colonial, the hackers launched attacks on 24 other companies in various industries. 

Tyler Durden
Thu, 06/03/2021 – 12:19

via ZeroHedge News https://ift.tt/34HzS4T Tyler Durden

Bowser’s About Face: DC Admits Using Tear Gas Against Protesters, Seeks To Dismiss BLM’s Lafayette Park Lawsuit

Bowser’s About Face: DC Admits Using Tear Gas Against Protesters, Seeks To Dismiss BLM’s Lafayette Park Lawsuit

Authored by Jonathan Turley,

Below is my column in the Hill on the District of Columbia not only admitting that it used tear gas on June 1 last year near Lafayette Park, but also defending the use as entirely appropriate to enforce the curfew order of Mayor Muriel Bowser. The media has avoided on the story despite Bowser’s previous condemnations of the alleged use of tear gas that night by the federal agencies. (The federal agencies claimed to have use pepper balls but the affect is largely the same).

Both the Bowser and Biden Administrations are seeking to dismiss the Black Lives Matter lawsuit. Yet, the host of legal experts and media who condemned the use of tear gas and the clearing  of the Lafayette park area last year are entirely silent on the disclosures.

Here is the column:

A federal judge in Washington is set to decide whether to dismiss a case on behalf of protesters who claim they were injured during the June 1, 2020, protests around Lafayette Park next to the White House. In the course of the arguments, one lawyer stood out in insisting that the use of tear gas against the protesters was entirely reasonable.

What was so striking is that the lawyer, Richard Sobiecki, represents the D.C. government of Mayor Muriel Bowser, who condemned the federal government for its clearing of the area and alleged use of tear gas. Much of the media lionized Bowser for her stance at the time. She received national acclaim for painting “Black Lives Matter” on the street next to the park and renaming it “Black Lives Matter Plaza.”

Now, one year later, Bowser is keeping the BLM plaza but opposing the BLM protesters.

Her administration insisted in court that the protesters were legitimately teargassed by the metropolitan police to enforce her curfew that night.

After the park clearing, the media uniformly denounced then-Attorney General Bill Barr for ordering the park to be cleared so that President Trump could hold his controversial photo op in front of the St. John’s Church.

The accounts in virtually every news report were quickly contradicted, but few reporters acknowledged the later facts coming out of federal agencies.

As I noted in my testimony to Congress on the protest, the clearing of the park raised serious legal questions, particularly the unjustified use of force that night.

However, the repeated claim that Barr ordered the clearing of the area for the photo op was never supported and quickly contradicted. The plan to clear the park was set long before there was any discussion of the photo op, and it was based on the threat posed to the White House compound. Barr said he was unaware of any planned photo op when he approved the plan and that the delay in implementing it was due to the late arrival of needed personnel and fencing. Nevertheless, legal experts like University of Texas professor and CNN contributor Steve Vladeck continued to claim that Barr ordered federal officers “to forcibly clear protestors in Lafayette Park to achieve a photo op for Trump.”

The media has also stressed that the clearing and the force used were unjustified because the protests were “entirely peaceful” and there was no “attack on the White House.” That is untrue. As discussed in my testimony, an exceptionally high number of officers were injured during days of continuing protests around the White House complex; some 150 officers were injured, half of those around the White House. That is similar to the level of injuries during the Jan. 6 riot at the U.S. Capitol. And, as with the Capitol riot, authorities decided that a perimeter had to be established around the White House last summer. Indeed, they used the same type of fencing, although the White House perimeter was much smaller than at the Capitol.

While there was less violence that night a year ago, the rioting included the burning of a historic structure, extensive property damage nearby, and the attempted burning of historic St. John’s Church. Indeed, the violence led the Secret Service to move the president into the White House bunker, and officers said they were concerned that the complex might be breached.

That brings us back to the new admission from the D.C. government.

There has long been a dispute as to whether the federal operation employed tear gas. The federal government has maintained that it used pepper balls. As I stated in my congressional testimony, the distinction is really not significant, practically or legally; pepper balls and tear gas can have the same effect on protesters, and both are often referenced together in court orders as “non-lethal riot control devices.”

However, as this debate over the denial of tear gas by the federal operation raged, neither Bowser nor her government stepped forward to say that D.C.’s Metropolitan Police used tear gas in their operations a block or so from Lafayette Park. Instead, Bowser denounced the force used by the Trump administration, including the use of tear gas.

Now, with Trump out of the White House, Bowser’s administration insists there was nothing unreasonable in the use of tear gas to enforce a curfew and is asking the court to dismiss the lawsuit by protesters, including Black Lives Matter DC. The media that spent the past year denouncing the Trump administration over its alleged use of tear gas seems largely silent as Bowser’s administration claims its own use of force was reasonable.

The federal government still apparently denies using tear gas. D.C. police admit to using tear gas nearby to enforce Bowser’s curfew, but she has long insisted that the district did not assist in clearing Lafayette Park, which began before the curfew.

U.S. District Judge Dabney Friedrich now must decide if the clearing of the park was done for Trump’s photo op or, as federal agencies claim, to protect the White House as a national security priority.

After the Lafayette Park operation, Bowser declared that “if you are like me, you saw something that you hoped you would never see in the United States of America.” Now, her government is arguing not only that the protesters’ claims should be dismissed but that the district did and can continue to use tear gas in such situations, even to enforce a curfew.

In the meantime, the Biden administration agrees that the case should be dismissed entirely. The Department of Justice (DOJ) maintains that “Presidential security is a paramount government interest that weighs heavily in the Fourth Amendment balance.” The DOJ’s counsel, John Martin, added that “federal officers do not violate First Amendment rights by moving protesters a few blocks, even if the protesters are predominantly peaceful.”

The response to that from the media has been … crickets.

What a difference a year – and a new president – can make.

Tyler Durden
Thu, 06/03/2021 – 11:58

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

Tesla Recalls 6,000 Vehicles Over Brake Caliper Bolts That Could “Increase Risk Of A Crash”

Tesla Recalls 6,000 Vehicles Over Brake Caliper Bolts That Could “Increase Risk Of A Crash”

At a time when Tesla can least afford further quality issues, the company has announced it is recalling 5,974 of its EVs over the very same issue that was brought to light during a Shanghai Auto Show protest in April: brakes.

The company is performing the recall on certain 2019-2021 Model 3 and 2020-2021 Model Y vehicles “over concerns that their brake caliper bolts might loosen, which could potentially cause a loss of tire pressure and increase the risk of a crash”, according to CNBC.

The company says it is “not aware of any crash or injury resulting from the potential defect” and that it’ll inspect or replace brake caliper bolts for free, as necessary. The company became aware of the issue after a “field incident involving a 2021 Model Y with a missing fastener on the driver-side rear brake caliper,” CNBC reported.

Recall, the Shanghai Auto Show protest in April set off a chain reaction of events that saw Tesla’s relationship with the CCP appear to sour. The protestor at the Auto Shanghai expo climbed on top of a Tesla Model 3 sedan and screamed while wearing a t-shirt that said “The Brakes Don’t Work” and “Invisible Killer”.

This is not likely to help Tesla’s collapsing global EV market share, which we pointed out this week. The automaker’s global electric vehicle market share plunged to 11% in April from 29% in march, Credit-Suisse analyst Dan Levy wrote in a note Wednesday morning.

It marks Tesla’s lowest monthly global market share since January 2019. The “greater than usual drop” came between the last month in Q1 and the end of the first month of Q2. 

The company’s market share in the world’s largest auto market – China – collapsed to 8% in April from 19% in March. That drop should be no surprise given the collapse in sales numbers we reported for Tesla in China last month. “GM remained the share leader in China in April, with a 20% share, driven by continued volume traction of the low cost Wuling HongGuang Mini,” Levy’s note, summarized by Bloomberg, pointed out.

 

In Europe, the company posted EV market share of just 2% compared to 22% in March.

In the United States, market share fell to 55% versus 72% in March. 

While Tesla remains at the top of the heap in the U.S., there’s no telling how long that is going to last. The company is now facing stiff competition from legacy automakers and is dealing with backlash from both dropping features and raising prices on its models

Now, the company can add recalls – and the optics of additional quality issues – to its (growing) list of domestic headwinds. 

Tyler Durden
Thu, 06/03/2021 – 11:40

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