YouTube’s Gaslighting About Las Vegas Mass Murderer Stephen Paddock, Explained by Someone Who Investigated

Reprinted from NOQ report.

Recent revelations have shown that YouTube does not want anyone to know the truth about Stephen Paddock, the Las Vegas mass murderer. Considering that he’s been out of the news cycle for so long, briefly reappearing after a bogus statement by the FBI, one has to wonder why YouTube is going to such pains to keep the conversation under control.

Mises Caucus took to Twitter to expose the shenanigans:

Conservative documentary maker Mindy Robinson did an in-depth review of everything that happened before, during, and after the attack. Her video is below. Here’s her post on Twitter with many of the questions YouTube doesn’t want people asking:

Why would they build algorithms to suppress everything but the official lone gunman narrative for the Las Vegas shooting, you ask? 🧐

I spent half a year reading every FBI and police report from that night, listening to every 911 call, and talking to everybody I knew that was there. Let’s see what they don’t want people talking about:

  • Who were the 3 other people registered to Paddock’s room that night other than him and the girlfriend? We only know about them because their names were redacted on police body cam footage that took multiple lawsuits and a year and a half to get. Why won’t the FBI investigate or even name these 3 people?
  • Why did 3 helicopters hovering above Mandalay Bay turn their transponders off minutes before the shooting…and didn’t put them back on until the minute it was over?
  • Why did hundreds of people report seeing and hearing other gunmen that night on the Strip long after Paddock was dead?
  • Why did the media mysteriously drop the story after only 2 weeks?
  • How did Paddock’s computer hard drive walk off the crime scene?
  • How did Paddock lock one room from the inside, and transport himself to the other side of the door to die on the floor?
  • Why do electronic door locks prove that at least 2 other people were in those rooms that night? Why was the room service ticket for two entrees?
  • Why were officers ordered to remain in the stairwell for over an hour allowing anyone in those rooms to escape? Why did they say they were waiting for SWAT…when SWAT never showed?
  • How were they unable to identify one of the gunman seen running around the Strip that night with a gun…when they had a description of his truck and his license plate number?
  • Why was MGM allowed to bribe the security guard by gifting him 2 condos for his silence? What was his explanation for running off to Mexico and only ever doing one very controlled Ellen interview?
  • Why did the corrupt Vegas Sheriff force his officers to sign NDA’s about what they saw that night?
  • Why were officers told multiple times to turn off their body cams that night?
  • Why were they running mass shooter drills all week causing confusion at the hospitals? Who ordered them?
  • Why were so many fatalities shot with perfect parallel trajectories? Why did so many people hear gunshots come from the ground behind the stage?
  • Why was Paddock’s house left “unlocked” and allowed to be ransacked while the investigation was ongoing?
  • How are there only 2-3 pics of Paddock? He previously worked for the military industrial complex and had a pilot’s license…was he a government spook?
  • Why was the girlfriend let off so easily? What about the anti-gun Australian nut Brian Hodge who did interviews knowing certain things that had not been released to the public yet?
  • Where did the millions of dollars collected by former Governor Sisolak through the Gofundme go?
  • Why are we relegated to body cam footage we had to sue for and citizen cell phone footage? Where is all the security camera footage from the casinos that night?
  • It’s also worth mentioning that the same corrupt RINO Sheriff who was hated by his own party for being anti-gun, pro-red flag, pro-force vaccination, and tried to claim Paddock was a “Trump supporter” was fully funded by dark money groups and casinos and “won” the primary against a visibly more popular America first candidate and eventually installed as Governor. He was the same guy that lied on the stand about the Bundy Ranch.

The FBI covered this up…and poorly. I can’t think of a reason why unless they either screwed up, or orchestrated the whole thing…it sure wouldn’t be the first time. Is there a particular reason the government doesn’t think the public deserves answers for any of this? It’s looking like the Feds killed 58 people to do a gun grab as well as something funny with the Saudi Prince which is a whole other rabbit hole.

We want answers for this @JoeLombardoNV

This conspiracy goes both deep and wide. There are many things being covered up and a whole lot of people involved. Was/is this part of a government operation to bring forth gun control? Was it actually far more nefarious than that?

Here’s Robinson’s documentary:

The post YouTube’s Gaslighting About Las Vegas Mass Murderer Stephen Paddock, Explained by Someone Who Investigated appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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Why Decades of Inflationary Finance Are Finally Coming Home to Roost

Reprinted from NOQ report.

Eventually, the inflationary credit emitted by the Fed works its way through the global economy and comes home to roost in the form of reduced domestic output and rising prices. In this regard, there is no more powerful tell than the round trip of the PCE deflator for durable goods during the past 28 years.

As shown in the chart below, prices for durable goods, which are now mostly manufactured abroad, plunged continuously and by a staggering 40% between early 1995 and the Covid-Lockdown bottom in Q2 2020. There is no broad-scale deflationary gale quite like it in all of recorded history.

What caused it, of course, was a one-time arbitrage of labor and other local production costs on the massively expanded global supply chain enabled by modern technology.

Again, however, that wasn’t a wonder of capitalism alone. What drove the global supply chain deep into the interior of China and other ultra-low labor cost venues was the Fed’s lunatic inflation-targeting policies—originally de facto under Greenspan and then eventually (2012) official under Bernanke.

The truth is, when Mr. Deng declared that to be rich was glorious and opened China’s great export factories, sound money in the US would have resulted in a continuous deflation of the drastically swollen US cost and price level that had emerged from the Great Inflation of the 1970s.

Obviously, Alan Greenspan, the once and former champion of the gold standard, was having none of it. Had he permitted the nation’s swollen cost structure to deflate in order to keep domestic production competitive, he would not have been the toast of the town in Washington. He would have been vilified by the politicians because the indicated cure of soaring interest rates and shrinking domestic credit on the free market would have made financing the giant Federal deficits which emerged in the Reagan era well nigh impossible.

So Greenspan pretended to be the champion of sound money by taking credit for a phony gain he was pleased to call “disinflation”. The latter amounted to deliberately depreciating the purchasing power of savers and wage earners, but just not quite as rapidly as during the worst days before Volcker.

Needless to say, in a globalized economy inflationary money is quite the trickster. In the initial instance it led to the massive and relentless off-shorting of production, and the re-importing of the same goods produced abroad via the cheap labor being requisitioned from China’s vast interior rice paddies.

Inflation of the dollar came back as deflation of durable goods prices!

It also allowed the Fed to claim that it had vanquished inflation and that its altogether new challenge was the madness called “lowflation” or too little inflation.  That’s truly when the Keynesian central bankers lost their minds.

Alas, the trouble with “lowflation” is that it was a one-time aberration, not a permanent or sustainable condition. As the above sharp hook in the chart attests, the sub-index for durables is now up by 15% from the bottom, even as the global supply chain continues to contract owing to the exhaustion of cheap labor in China and badly lagging political patience with free trade in the US and throughout the west.

Not surprisingly, therefore, the deeply embedded inflation that has has been fostered by the Fed and its fellow-traveling central banks is now proving to be far more stubborn than our Keynesian money-printers ever anticipated; and far more vicious that the clownish perma-bulls of Wall Street ever imagined.

Here is still one more reminder. We have long-argued that the proper approach to fashioning a “core” inflation gauge is not to arbitrarily drop items out of the price basket like food, energy and now shelter, too. Take that far enough and inflation drops to zero because you are no longer measuring anything that even remotely resembles the general price level.

By contrast, the trimmed mean CPI is just the ticket because each month it drops out the high and low 8% of items, respectively, but these are never the same components. So you are smoothing the monthly perturbations, not eliminating great gobs of the price structure.

In any event, the chart below presents the 16% trimmed mean CPI on both a year-over-year basis (purple line) and a monthly annualized basis (black line).

16% Trimmed Mean CPI, Y/Y Change Versus Annualized Rate of Monthly Change,  2018-2023

In short, decades of inflationary finance are coming home to roost. The Fed is not in charge of the cycle and it’s not over-doing its belated attempt to permit interest to return to some semblance of rationality relative to the underlying rate of inflation.

So now would be a good time to duck and cover.

They say that the Fed always breaks something but that is only partially true. What it actually broke was the money and capital markets long ago, and now there is only more demolition to come.

Editor’s Note: The truth is, we’re on the cusp of an economic crisis that could eclipse anything we’ve seen before. And most people won’t be prepared for what’s coming.

That’s exactly why bestselling author Doug Casey and his team just released a free report with all the details on how to survive an economic collapse. Click here to download the PDF now.

Article cross-posted from International Man.

The post Why Decades of Inflationary Finance Are Finally Coming Home to Roost appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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The Spread of Vaccine-Derived Polio

Reprinted from NOQ report.

The historical record of the enterovirus poliovirus traces as far back as 1580 B.C.1 The modern record began in 1879 when the clinical effects of the poliovirus were first described by British physician Dr. Michael Underwood. By 1840, Dr. Jacob von Heine had developed the theory that the disease may be contagious. More than 50 years later in 1894, the first outbreak of infantile paralysis was documented in the U.S.

In 1938, the National Foundation for Infantile Paralysis was established and later became the March of Dimes. It would be nearly 20 more years before Dr. Jonas Salk developed the first injectable, inactivated polio vaccine in 1955. In 1961 Dr. Albert Sabin developed the live oral polio vaccine (OPV) and it rapidly became the vaccine of choice and has remained the vaccine of choice in developing countries.

The Global Polio Eradication Initiative2 marks 1991 as the last case of wild polio infection in the Americas, 1997 as the last case of wild polio in the Western Pacific region, and 1998 as the last case of a child paralyzed by the wild poliovirus in the European region.

Yet, while the polio vaccine program appears to have significantly reduced wild poliovirus, outbreaks continue to occur, suggesting it may be time to rethink the polio vaccine program.

Vaccine-Derived Polio Challenges Old Protocols

The Global Polio Eradication Initiative3 was launched in 1988 following the World Health Assembly’s resolution to eradicate the disease. They have public and private partners including the World Health Organization, Rotary International, the U.S. CDC, the Bill & Melinda Gates Foundation, and GAVI.4

Yet, after more than 30 years, polio continues to infect and paralyze people — but it isn’t the wild virus doing all the damage. The vaccine program has been an unsuccessful multibillion-dollar fight. Dr. Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia, says eradication may never happen because the viruses are “smarter than we are.”5

In 1994, the Americas were declared polio-free, but a young man in New York contracted the virus and was paralyzed in 2022.6 The challenge is the vaccine-derived poliovirus. The CDC7 describes how the weakened virus from an OPV can replicate in an immunodeficient individual and “revert to a form that causes illness and paralysis.” Health officials say this is more likely to happen when the virus circulates in under- or non-immunized populations.

The Global Polio Eradication Initiative8 describes the OPV program as having “brought the wild poliovirus to the brink of eradication.” Unfortunately, the virus refuses to go over the edge. Instead, it is doing exactly what the CDC described and has reverted to a more dangerous virus that public health experts have found in the U.S. and 15 European countries,9 including the U.K.10

The virus spreads through sewage in areas with poor sanitation. But that’s not the only place it’s been found. According to NPR,11 the poliovirus has been detected in wastewater in Rockland and Orange Counties, New York, and New York City. Offit told NPR that health officials were aware that the virus in the OPV could mutate but the vaccine campaigns continued anyway. He explained:

“We were seduced by the fact that it was cheap. It caused contact immunity. It was easy to give. And so we thought, ‘We can eliminate this disease in the world.’ We released the dragon, and the dragon was the circulating vaccine-derived poliovirus.”

Vaccine-Induced Polio Has Replaced the Wild Virus

According to NPR,12 in some places of the world, only 5% of children are up to date on their childhood immunizations. Those are the areas where the less expensive oral polio vaccine is more commonly used and where many of the current outbreaks are occurring.

In the early years, public health officials felt the spread of the weakened poliovirus was a benefit of using the OPV. They hoped it would immunize the unvaccinated children who were exposed.13 But instead of helping to eradicate the disease, the weakened virus mutated, regained strength and is now just as dangerous as the wild-type poliovirus.

In 2022, the WHO reported 30 cases of confirmed wild-type polio infections14 but there were 791 cases of vaccine-derived polio,15 which they reported as Acute Flaccid Paralysis (AFP).16 Using data from the World Health Organization, NPR produced17 an interactive bar graph that demonstrates how vaccine-derived cases of poliovirus outnumber cases of the wild virus, most significantly starting in 2017 during an outbreak in Syria.

The injected polio vaccine does not shed the virus in the same way that the OPV does. However, it’s also more expensive and out of reach for most developing countries. In 2021, another oral polio vaccine was developed and introduced, which experts hope will be less likely to mutate. Aiden O’Leary is the director for the Global Polio Eradication Initiative, and true to the stated focus of many of the Initiative’s partners, O’Leary says:18

“But the backbone of our approach is really this house-to-house coverage [with oral vaccine]. It has been demonstrated over time that this is the best means of ensuring that we’re able to reach each and every child. And that is fundamentally the key to actually achieving the goals we’ve set for ourselves.”

In other words, the Global Polio Eradication Initiative’s answer to vaccine-derived poliovirus is more vaccines. Konstantin Chumakov, former associate director for research at the FDA Office of Vaccines, disagrees, telling NPR: “If we keep doing the same thing, expecting different results, that’s a recipe for failure.”

Zulfiqar Bhutta, founding director of the Institute for Global Health and Development at the Aga Khan University in Pakistan, agrees. House-to-house campaigns cannot continue indefinitely. He notes that people have asked “Why are you coming every few months with these vaccine doses that we have already had and then kids are getting the paralytic polio despite the vaccine?”19

Yet, Chumakov also believes that stopping the vaccine program is also not the answer. Even if polio is eradicated from the planet, Chumakov warns that polio is easily manufactured in a lab and could be used as a bioweapon. He thinks the polio vaccine cannot be stopped, “No, they will have to continue forever, everywhere, indefinitely.”20

Acute Flaccid Myelitis Is a Polio-Like Illness

Just five years before vaccine-derived cases of poliovirus overtook wild cases in number, the first outbreaks of acute flaccid myelitis (AFM) were reported across multiple global regions.21 According to the CDC,22 the condition causes the body to become weak, with loss of muscle tone and reflexes. Some people experience difficulty moving their eyes, difficulty with swallowing or pain in the arms, legs, neck or back.

AFM can cause life-threatening respiratory failure and serious neurological complications. It is vital if you or your child develops these symptoms that you seek medical attention immediately. There is no cure or treatment for the condition.23 The goal is to manage symptoms and provide respiratory support.

This polio-type illness mainly affects children. In 2014, the CDC24 began tracking cases in the U.S. and recorded 120 confirmed cases in 34 states. That number jumped to 153 cases in 2016. Between 2014 and 2919, the virus appeared to infect many more people every other year. In 2018 there were 238 total confirmed cases in 42 states. Since then, the number has stayed at less than 50, with 28 confirmed cases in 2021 and 44 in 2022.

The CDC formed a task force in 201825 to assist in the effort to define the cause and improve patient outcomes. However, according to the CDC website, the task force page was last updated on September 30, 2021, and the activities listed are the clinical treatment and etiology goals but no accomplishments.

The move to create the task force was likely prompted in part by criticism from parents and scientists for the CDC’s lack of an effective response.26 While the number of cases has fallen to below 50 for four consecutive years, as we have seen with vaccine-derived poliovirus infections, this is not a guarantee that the number will stay low.

Could Vaccines Provoke AFM?

In a paper published in the BMJ, Dr. Allan S. Cunningham suggests we may need a new approach to making vaccine recommendations.27 He was referring to the outbreak of AFM, which at the end of 2015 totaled 142 cases in the previous two years.

He suggested a phenomenon known as provocation poliomyelitis, which describes an increased risk of neurological complications known to occur when a person infected with poliovirus receives an injury to a skeletal muscle. He suggests the injury could derive from an injection from a vaccine. As noted in the Journal of Virology in 1998:28

“Skeletal muscle injury is known to predispose its sufferers to neurological complications of concurrent poliovirus infections. This phenomenon, labeled ‘provocation poliomyelitis,’ continues to cause numerous cases of childhood paralysis due to the administration of unnecessary injections to children in areas where poliovirus is endemic.

Recently, it has been reported that intramuscular injections may also increase the likelihood of vaccine-associated paralytic poliomyelitis in recipients of live attenuated poliovirus vaccines.”

Interestingly, in less than 1% of cases, poliovirus will invade the central nervous system and cause paralysis.29 Most cases produce a mild illness with a sore throat, low-grade fever, fatigue, nausea and other flu-like symptoms that disappear in 10 days. In some cases, polio can occur with relatively no symptoms. This means that some people receiving vaccinations could have an underlying polio infection at the time and not even know it.

The poliovirus is only one type of enterovirus. There are more than 100 non-polio enteroviruses,30 most of which cause mild illness. However, some can infect the nervous system and cause paralysis. Because they are one of the most prevalent viruses in the world,31 it’s likely that some children receiving vaccinations are infected at the time of injection, possibly without symptoms or only mild fever or flu-like symptoms.

Is it possible that provocation poliomyelitis could occur in children vaccinated while infected with a non-polio enterovirus? It’s a question that deserves a closer look. As Cunningham explained:32

“PP [provocation poliomyelitis] was most convincingly documented by Austin Bradford Hill and J. Knowelden during the 1949 British polio epidemic when the risk of paralytic polio was increased twenty fold among children who had received the DPT injection. Similar observations were made by Greenberg and colleagues in New York City; their literature review cited suspected cases as far back as 1921.

AFM may result from a direct virus attack on the spinal cord, or by an immune attack triggered by a virus, or by something else. If a polio-like virus is circulating in the U.S., the possibility of its provocation by one or more vaccines has to be considered.”

The post The Spread of Vaccine-Derived Polio appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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‘Growing Frustration’: Federal Prosecutors Have Mulled Possible Felony Charges for Hunter Biden

Reprinted from NOQ report.

Federal prosecutors have weighed filing felony and misdemeanor charges against Hunter Biden, two sources familiar with the matter told NBC News, as frustration at the FBI reportedly rises.

The sources said federal attorneys have mulled charging Hunter Biden with felony tax evasion, a gun purchase-related possible felony and two misdemeanors for allegedly failing to file taxes, the outlet reported. Federal agents thought in October that they had sufficient evidence to prosecute him for tax offenses and making a false statement in paperwork for a gun purchase, sources told The Washington Post.

Most of FBI investigators’ work on Hunter Biden’s case has been finished for around a year, leading to “growing frustration” with the bureau, according to two senior law enforcement sources, while one such source reported that the IRS finished its probe into him more than a year ago.

An IRS whistleblower reportedly told Congress this week that a Biden administration probe into Hunter Biden’s taxes is plagued by “clear conflicts of interest,” according to The Wall Street Journal and the New York Post. The whistleblower claimed to have information contradicting sworn testimony by a “senior” Biden administration official, who an anonymous source identified as Attorney General Merrick Garland, the NYP reported.

The FBI did not immediately respond to the Daily Caller News Foundation’s request for comment.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

The post ‘Growing Frustration’: Federal Prosecutors Have Mulled Possible Felony Charges for Hunter Biden appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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Why We’re About to Get an Unprecedented Influx of LGBTQ Illegal Aliens Who Don’t Speak English

Reprinted from NOQ report.

Democrats are clever.  Nobody in my audience wants to hear that but it’s true. They know how to work the system because the Uniparty Swamp has been building it to cater to them for decades.

The latest version of Democrats playing 4D chess comes with the announcement of a bill designed to “protect” LGBT illegal aliens. According to Fox News [emphasis added]:

Dozens of Democrats in the House and Senate introduced legislation this week that would make it harder to hold illegal aliens in custody if they qualify as a “vulnerable person,” such as those who are gay, lesbian or transgender, who don’t speak English, or who meet other definitions of the term under the bill.

The Dignity for Detained Immigrants Act, from Rep. Pramila Jayapal, D-Wash., and Sen. Cory Booker, D-N.J., is aimed at setting minimum standards for detention facilities where thousands of illegal aliens are kept as they await processing. Among other things, it would bar the use of private detention facilities and make sure government-run facilities meet minimum standards as defined by the American Bar Association.

“Our immigration system has allowed for the unjust treatment of immigrants and stripped them of their humanity and due process,” Booker said in a Thursday statement. “We must respect and protect the basic rights of immigrants detained in the United States.”

Under the legislation, the Department of Homeland Security could arrest illegal aliens and either release them on bond or detain them while a decision is made on whether to remove them from the country. The bill sets out new rules on detention that favor aliens.

For example, officials would have to decide within 48 hours whether to detain an alien, and could only detain them after a determination that “the release of an alien will not reasonably ensure the appearance of the alien as required or will endanger the safety” of others. In those cases, DHS “shall impose the least restrictive conditions” for detention, and ensure they get a custody hearing within 72 hours. And in those hearings, “there shall be a presumption that the alien should be released,” the bill said.

But the bill goes further by seeking to exempt several groups of illegal aliens from any detention at all. It creates a “special rule for vulnerable persons and primary caregivers,” and says these aliens “may not be detained” unless DHS can demonstrate that it is “unreasonable or not practicable to place the alien in a community-based supervision program.”

Under the bill, “vulnerable person” is defined as anyone who is under 21 or older than 60, pregnant, or who “identifies as lesbian, gay, bisexual, transgender, queer, or intersex.” Other vulnerable aliens are those who are a victim of or witness to a crime, anyone who has filed a nonfrivolous civil rights claim in court, anyone with a workplace claim, and those with a “serious mental or physical illness or disability.”

Aliens with a credible fear of persecution, “limited English language proficiency,” those experiencing “severe trauma,” and survivors of “torture or gender-based violence” also meet the definition of a “vulnerable person” for which DHS must take extra steps before detaining.

In other words, DHS will only be able to detain illegal aliens who admit to being able to speak English and who do not claim to have any challenges, risks, or abnormalities. So… none of them. Literally 100% of illegal aliens will claim something about themselves that would make them exempt from detention.

The good news is the bill is unlikely to pass in the GOP-controlled House. It may not make it through the Senate since it’s so radical that one or two moderate Democrats may object. But that doesn’t matter as far as the powers-that-be are concerned because they know even the hint that this bill may pass will be enough to prompt migrant caravans this summer with everyone told to say they’re queer and can’t speak English.

The border invasion will continue until Americans finally get sick enough of the Uniparty Swamp to do something about it. Unfortunately, most still don’t realize how deep the swamp really is.

The post Why We’re About to Get an Unprecedented Influx of LGBTQ Illegal Aliens Who Don’t Speak English appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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The War Being Waged Against Financial Freedom

Reprinted from NOQ report.

  • Finance guru Catherine Austin Fitts warns that central bank digital currencies (CBDCs) are part of a plan to end all currencies and establish a slavery system
  • CBDCs will rapidly usher in an era of taxation without representation, leading to the end of liberty
  • Fitts believes that a deliberate takedown caused Silicon Valley Bank to collapse, in an effort by a variety of players to panic the public and cause a banking run
  • By creating a banking run, many will take their money out of small banks and put it with the central banks that are at the root of the problem
  • Leaving the banking system isn’t the answer — finding a good local bank or credit union, and using cash, is

In The Last American Vagabond video above, you can watch Agustín Carstens, general manager for the Bank of International Settlements (BIS), spell out exactly why globalists are promoting central bank digital currencies, or CBDCs, so heavily.

“[With] cash we don’t know, for example, who’s using a $100 bill today,” he says. “We don’t know who is using a 1,000-peso bill today. A key difference with the CBDC is that Central Bank will have absolute control on the rules and regulations that will determine the use of that expression of Central Bank liability and also we will have the technology to enforce that.”1

The video features an interview with finance guru Catherine Austin Fitts — publisher of The Solari Report2 — who has warned that CBDCs are part of a plan to end all currencies. If that happens, a slavery system, steeped in the ideologies of transhumanism and technocracy, will be ushered in.

“We’re watching events that are within a framework, which is very engineered and planned,” Fitts says. “At the root of what’s going on today is there is a group of people who are trying to totally centralize control of all financial transactions on the planet — 100% — using digital technology.”3

Taxation Without Representation

“It’s a very rare moment when a central bank is telling you the truth,” Fitts notes, but Carstens’ statements did just that, detailing how central banks can enforce rules centrally “because it’s no longer your money, it’s our money — and we can set the rules on how you can use ‘our’ money,” she says.4

CBDCs will rapidly usher in an era of taxation without representation, leading to the end of liberty. By granting complete control of individuals’ financial transactions to central bankers, CBDCs allow the government to maintain complete control.

Without financial transaction freedom — the ability to transact with whoever you want, for any purpose — there will be no freedom, Fitts says. This is a key reason why we need to preserve cash. Right now, there’s a war going on between decentralizers, who are trying to preserve financial transaction freedom, and centralizers, who are fighting among themselves over who will be in control of the system.

“And, of course, every effort is being made by the corporate media to turn the rest of us who are trying to fight for transaction freedom to divide and conquer. And so it can be very confusing to watch this if you don’t see the gist of the main game,” Fitts explains.5

Central Bankers Hiding Behind Health Infrastructure

Part of what’s going on behind the scenes is what Fitts refers to as the Going Direct Reset — the “wholesale plan”6 of The Great Reset, which has been packaged for “retail” sale to the masses. The Going Direct Reset is detailed by John Titus on the Solari Report,7 but it involves the massive amounts of money — $3.5 trillion over a few weeks — injected into the economy in 2020.

That money was largely used in a way to build out only certain sectors — like space, the smart grid and health infrastructure — while starving others. This is another facet of gaining control and also involves the rollout of digital passports under the guide of keeping the population healthy and safe. Fitts explains:8

“Essentially, build out the infrastructure of control. Get everybody on an electrical grid … and we see this dance between finance and health care. If the central bankers had to do all the centralizing control with money they would end up with everybody coming at them with pitchforks, and so they hide behind health.

We see this use of the health infrastructure basically to build the train tracks of control. So, for the central banks, for example, to do CBDC they need a digital ID. Well, you get that because you’re trying to make everybody safe, right? … So we’ve had this dance during the Going Direct Reset of using health to justify more central control.”

Was the SVB Banking Collapse Deliberate?

During the pandemic, you had the Fed pumping a massive amount of money into the economy, while one-third to half of U.S. small businesses were shut down in the name of public health.9 This wreaked havoc with people’s loan portfolios, but what caused Silicon Valley Bank (SVB), the 16th largest in the U.S.,10 to collapse?

“At Silicon Valley Bank (SVB),” Fitts says, “you have the biotech and life sciences and the tech IPO pipeline that literally sort of explodes in the bubble, and then when the bubble’s over it kind of shuts down.”

That was one aspect. Meanwhile, Fitts says, 49% of the small businesses in San Francisco shut down, “so if you’re SVB loaning to just small businesses in the Silicon Valley area … that could be as much as half your loan portfolio.”11 However, ultimately Fitts believes the collapse was a deliberate takedown — not the result of a traditional bank run:12

“We had a takedown at SVB. There’s a game going on and … what it turned into was an effort by a variety of players to panic everyone into believing … that this was going to turn into a wider contagion run.

Now if you do look at the numbers on the banking system, if interest rates continue to stay high for a long period of time and a lot of banks have to run a negative arbitrage, that’s a problem … so you’re going to have banks that get into trouble and end up going out of business in that situation … but it’s not necessarily true that interest rates are going to stay up … we don’t know.”

Creating Financial Panic Drives Business to the Criminals

The panic created over instability in the banking system may also be part of the plan. By creating a banking run, many will take their money out of small banks and put it with the central banks that are at the root of the problem:13

“To get complete control, you’ve got to kill the small guys. You’ve got to kill the small farms. You’ve got to kill the small businesses and you’ve got to kill the small banks.

So, we use the health care game to shut down the small businesses and the farms — not because they’re less productive but because the guys running the game could pick up huge market share and make a fortune stealing their businesses and picking up their asses cheap …

You pump money into your pals and then you shut down your enemies, and then your pals can go pick your enemies up for cheap … so we shut down the small farms and small business … and now we’re ready to shut down the small banks.

Now, if you’re the top guys and you want to play this game, who better to shut down the small banks than panic on all the small bank depositors and scaring them and getting them to walk their deposits across the street to the criminals? … What they’re trying to do is get all their neighbors’ cattle to stampede into their corral.”

If the globalists take over, which is all but guaranteed if they control the financial system with CBDCs, they can institute worldwide slavery. But unlike in the past, technology now exists to keep track of people’s every move and control their ability to live in the modern world if they don’t obey. Fitts says:14

“The greatest most profitable business in the history of the world is slavery, more than mining, more than anything else. Slavery. That’s what this is about. Digital technology solves all the bad problems they had with slavery the last time. All those problems you can now solve with digital technology.

You can perfect your collateral — if I can implant a chip in you … then I can collateralize you. I can perfect my collateral as a banker and now we’re off to the races. I can build a slavery system and with robotics, AI and automation, I can manage it.”

How to Find a Good Local Bank

Fitts stresses that leaving the banking system isn’t the answer — finding a good local bank, and stashing your cash in a variety of places, is. While you’re there, let bankers know about the dangers of CBDCs. The Solari Report even has a template letter15 you can use to inform your bankers about the downsides of CBDCs. It reads, in part:

“It strikes me that creating a different, yet centrally controlled fiat currency that can be created from thin air and manipulated by unelected central bankers does not promote U.S. financial stability or provide citizens with consumer and investor protections — except in the sense that totalitarian governments can be financially stable through the power of taxation without representation and the ability to micromanage and regulate the spending of families and small enterprise.”

The bank or credit union you choose should not have a record of criminal behavior. Next, just as it’s a good idea to get to know the small farmers growing your food, it’s a good idea to get to know the people running your local bank.

The “No. 1 criteria is are they well managed? Are they well governed? Who owns, who manages, who’s on the board?” Fitts says. “What is the quality of the people and their experience and expertise?”16 The second criteria to look for is a steady deposit base.

“You want to look at the deposit base, you want to look at the loan base, you want to look at the investment portfolio,” according to Fitts. “And then you want to make sure that in the investment portfolio, or in their accounts, they have enough short-term investments and cash … it’s like a train. People get on and off, and you want them to have enough liquidity so they can handle the ups and downs.”

Fitts encourages everyone to get to know their community bankers and credit union executives. “If you’re concerned about your bank, go talk to your bank. If they’re doing a good job, they will answer your questions with confidence.”

How to Stop CBDCs

One of the top ways to stop CBDCs, in addition to ditching large, multinational banks in favor of trustworthy local banks or credit unions, is to use cash as much as possible, and not frequent shops that don’t accept it.17

You want to have your cash spread out, starting with keeping cash on hand in your home, ideally in a fireproof safe. Then you can expand to a safe deposit box at a bank, a small, local bank or investing in silver and gold coins. Meanwhile, talk to the people in your local community about why you’re using cash.

“Start using cash, and as you use cash talk to the small businesses that you frequent — small restaurants, small farms — and talk to them about how we can work together as customer and business to improve our endurance and resiliency and well-being,” Fitts says.18

Helping to build out your local food sources is also part of the solution, since having access to healthy food is critical to maintaining health and autonomy. “Anything you can do to build out the local food markets so that we can’t get cornered and be dependent on our enemy for food, it’s going to make a big difference to freedom,” she explains.19

There’s still time to defeat the globalists and maintain life as we know it. So, rather than feeling defeated, recognize that the opportunity exists to win this battle, one action and one individual at a time:20

“Understanding this can be completely overwhelming and depressing, but the thing I want to encourage everybody to understand is facing it … is the doorway that you walk through. And the grief you experience to get to the other side and realize there are real solutions. Because in the official narrative there are no real solutions, but if you face reality, there are real solutions.”

The post The War Being Waged Against Financial Freedom appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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It’s Inevitable: American Patriots Need Guns Because a War Is Coming

Reprinted from NOQ report.

Should the actions of a handful of criminals be used as an excuse to take away the rights of millions of innocent people? Any reasonable person would say no, but when it comes to gun related violence the standards of logic tend to go out the window. There are many government officials that view each major shooting as a gift – They believe that tragedies are political capital, a tool for leveraging away our freedoms.

In many cases of mass murder in the US the first inclination of the corporate media and the political left has been to rush to conclusions. They immediately blame conservative political motivations for the attacks, while also blaming our 2nd Amendment rights in general. If the shooter turns out to be anti-conservative or doesn’t fit the racial mold, they simply stop reporting the story. The agenda is obvious – To paint conservative men as a dangerous monolith plaguing the rest of society.

Why do they pursue this particular narrative, though?

Perhaps because, statistically speaking, conservative (and libertarian) men are the predominant group keeping authoritarians at bay. The government attacks us because they are afraid of us, and they are afraid of us for a reason.  It’s not about what we are doing, it’s about what we could do if they cross the line into accelerated tyranny, and this is on the verge of happening.

We came within a razor’s edge of war during the covid mandates. If Biden had got what he wanted with his vaccine passport executive order, the country would have erupted into conflict. Many Americans have no clue how close we were. Understand that no country, including the US, is immune to rebellion, and such events tend to escalate quickly.

Leftists often envision their own rebellion as a sort of modern French Revolution in which mobs march the streets and rule the day as heads roll in the town square. They believe their “righteousness” is a shield from harm. But this kind of mob intimidation only works within societies that still respect the rule of law. Leftist insurgencies use a nation’s freedoms and laws against them by saying “You can’t touch us because your principles prevent you…”

US patriots have no such delusions. We know that when it comes to corrupt governments, principles and the rule of law go out the window very quickly if their power is legitimately threatened. Leftists can exploit mob actions, invade government buildings and burn cities to the ground because the government ALLOWS them to. When we do the same thing? Well…how many years now have we heard the word “insurrection” over a single protest on January 6th 2021?

The strategies of the leftists cannot be our strategies because government protections apply to them and not to us. This double standard is leaving constitutional Americans with few options, and the hypocrisy is getting worse by the day. As I write this, Joe Biden is calling for an “assault weapons” ban over a shooting perpetrated by a transgender lunatic acting on her political motivations.  We used to call that terrorism. Instead, the White House is throwing their full support behind trans activist movements and blaming firearms for the deaths instead of the shooter’s twisted beliefs.

Numerous mass murder events have been perpetrated by people indoctrinated into the leftist fold. I would usually be the first to look at the psychological triggers for a shooter, rather than pure political motivation. But, more and more, it appears that the political left is creating the very monsters we now see targeting specific groups. And in each scenario, the media argues that these tragedies were STILL caused by conservative policies. For example:

1) On November 21st 2021, Darrell Brooks jumped into his SUV and deliberately drove it through a Christmas parade in Waukesha, Wisconsin, killing six and injuring 60 other people, including children and the elderly. He is cited on numerous social media posts supporting BLM related arguments and anti-white arguments. Some BLM activists took to social media to defend Brooks’ actions, and suggested that his act of mass murder was the “beginning of a revolution.”

At first, the media denied any race related motives or political motives for the attack. When Brooks’ comments were made public, they went silent. Suddenly, no one in the media was talking about the Waukesha Massacre anymore, and those that did talk about it argued that it was actually the acquittal of Kyle Rittenhouse (a young man who acted in self defense against an attacking mob) that justified the actions of Brooks.

2) On November 19th 2022, Anderson Aldrich entered a gay club in Colorado Springs called ‘Club Q’ and opened fire, killing 5 and injuring dozens of others. The immediate response by the media and the political left was to accuse conservatives of encouraging the crime and encouraging “hatred against the LGBT community.” Yet, when details finally emerged it became clear that the shooter identified as “non-binary” and had been a regular visitor to the club.

Once again, the media went utterly silent and the deaths at Club Q disappeared from the radar. When a mass murder event is not useful for leftists to push their agenda, they no longer care.

3) Then there was the recent mass shooting in Nashville at The Covenant school, a private Christian institution. Audrey Hale, a biological female trans activist, entered the school with a Keltec rifle that fires pistol rounds and killed 6 people, including 3 children. Hale reportedly left behind a “manifesto” which authorities have yet to release (Gee, I wonder why?), but going by her social media activity it is likely that she was politically motivated by Tennessee’s legislation against gender bending surgeries for children as well as bans against sexualized drag shows for minors.

Leftists and the media have aggressively tried to spin Hale’s attack as a gun control issue rather than what it is – Political terrorism.

4) Finally, we have the attack in Louisville, Kentucky at Old National Bank by a man named Connor Sturgeon, an employee of the bank that was about to be laid off who killed five colleagues while livestreaming the incident. Sturgeon has the look that the media likes (tall, young white man) but not the proper politics. Sturgeon’s social media history including his Reddit posts indicate he was a rabid leftist.

Using the pronouns He/Him, Sturgeon posted numerous anti-Trump and anti-NRA memes and rants, as well as pro-covid lockdown comments. There has in fact been a widespread effort by many platforms to scrub his comments from their pages as quickly as possible. In one group chat message, Sturgeon reportedly sent photos that included the statement “They won’t listen to words or protests, let’s see if they hear this…”

Media discussion on the Old National Bank shooting evaporated within a couple days, the fastest I think I have ever seen a story get buried.  I could list may other ideologically inclined attacks by verified leftists, but I think you get the idea.  Are there shooters with anti-leftist views?  A few, but they don’t receive protection from the media and the government like leftist attackers do.

Beyond the issue of directed attacks there is also the issue of overall violence in America. The vast majority of violent crime in the US occurs in Democrat run cities. This is a fact.  Data shows that 27 of the top 30 most violent cities in America are run by Democrat governments, including the cities with the most homicides. Fourteen of those cities also have Soros-backed prosecutors. This trend has been ongoing for years.

The problem is not guns, nor is it conservatives. Conservative towns are some of the safest places in America for the exact reason that there are guns everywhere in the hands of law abiding citizens. What the stats show is a trend that directly relates to a particular ideology – The leftist ideology (and by extension Globalism). Without leftists and leftist policies crime would plummet in the US. The more leftist extremism and globalism spreads the worse things get from generation to generation.

The inevitable outcome is war.

To be sure, there are peaceful means to delay conflict, such as separation or “national divorce.” This is already happening. Millions of Americans tired of leftist policies, taxes, mandates, bureaucracy, crime and cultism have left blue cities and blue states, and many millions more who have the means will leave in the near future.

There will come a point, however, when leftists and establishment elites will try to stop this separation from continuing. If they let people leave they then have to admit their ideology is failing, and that’s not an option for them. They will extort Americans into the society THEY want.  History shows us that when a population is disarmed the worst atrocities unfold.  The Soviet purge of millions of citizens through gun confiscation and then food confiscation is just one example that people should study before joining any anti-gun bandwagon.

One can easily see where this is going. The establishment will try to use force to make us submit to their system and we will not let them. That’s when the shooting starts. If we consider the problem from this perspective it makes perfect sense that these people are rabidly chasing after gun bans today. They know a war is about to happen because they know they are about to start one. And, they know there is a chance they will lose the fight should Americans remain armed. They’re afraid for a reason; they’re afraid of losing.

Article cross-posted from Alt-Market.

The post It’s Inevitable: American Patriots Need Guns Because a War Is Coming appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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REPLACED: Bud Light Marketing VP Behind Brand’s Transvestite Embrace Put on Leave of Absence

Reprinted from NOQ report.

Going woke doesn’t work for everyone in business. Increasingly, it seems to be the dragon slayer in corporate America as brands start questioning the efficacy of alienating half of the country. Anheuser-Busch is learning that lesson and spreading the love to their embattled former Bud Light Marketing VP, Alissa Heinerscheid.

After the frat-hating executive put transvestite Dylan Mulvaney on the icon cans, the backlash has been devastating. Now, she has been put on a leave of absence and replaced by a senior VP. According to AdAge:

Alissa Heinerscheid, marketing VP for the brand since June 2022, has taken a leave of absence, the brewer confirmed, and will be replaced by Todd Allen, who was most recently global marketing VP for Budweiser.

Heinerscheid did not immediately respond to an email requesting comment.

The brewer has also streamlined its marketing function to reduce layers “so that our most senior marketers are more closely connected to every aspect of our brand’s activities,” a company spokesperson said in a statement, adding that “these steps will help us maintain focus on the things we do best: brewing great beer for all consumers, while always making a positive impact in our communities and on our country.”

The Post Millennial reported:

In an interview on the Make Yourself At Home podcast from March 23rd, Heinerscheid revealed that the brand was in decline and they needed to “attract young drinkers… then there will be no Bud Light,” which led to the controversial partnership with trans TikToker Dylan Mulvaney.

Heinerscheid also recently suggested that the brand she represents should distance itself from its “fratty” past, despite having participated in frat culture herself as a young woman.

Don’t say it… don’t say it… fine, I’ll say it. Get woke, go broke. Ugh. I hate the phrase because it’s become so cliché it has lost all meaning but it has never fit more perfectly than with Bud Light.

The post REPLACED: Bud Light Marketing VP Behind Brand’s Transvestite Embrace Put on Leave of Absence appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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As U.S. Bank Deposits Resume Outflows, How Quickly Will The U.S. Dollar Collapse?

Reprinted from NOQ report.

While it has been a relatively quiet week in the financial sector, it may not be long before the economy takes over headline news again.

ZeroHedge News reported today that U.S. banks are experiencing more runs on deposits.

US Bank Deposits Resume Outflows, Led By Large Institutions; Small Bank Loan Growth Slumped

It’s late on a Friday afternoon, but there’s still more things to worry about as The Fed’s H.8 (commercial bank deposit data) just dropped.

After yesterday’s report showed the Fed balance sheet shrinking but bank bailout facility usage higherUS commercial bank deposits (ex-large time deposits) unexpectedly resumed their freefall (during the week-ending 4/12), tumbling $68.66 billion to the lowest since April 2021…

Pam Martens of Wall Street on Parade addressed the current “credit crunch” that was revealed this week with the release of the Federal Reserve’s “Beige Book” report.

Fed’s Beige Book: The Credit Crunch Has Arrived in New York, California and Texas

On Wednesday, the Federal Reserve released its Beige Book, a compilation of current economic conditions in each of its 12 Federal Reserve districts. The information that was collected in each of the regional reports was gathered on or before April 10 – so it is relatively current.

It is not a good sign that three of the Fed districts that pump out a significant chunk of U.S. GDP reported that bank credit had tightened noticeably, ostensibly as fallout from the banking collapses in March and depositor runs.

The New York Fed reported that credit conditions in the Second Fed District, which includes New York state, the 12 northern counties of New Jersey, Connecticut’s Fairfield County, Puerto Rico and the U.S. Virgin Islands, “deteriorated sharply.” It summarized the situation as follows:

“Conditions in the broad finance sector deteriorated sharply coinciding with recent stress in the banking sector. Small to medium-sized banks in the District reported widespread declines in loan demand across all loan segments. Credit standards tightened noticeably for all loan types, and loan spreads continued to narrow. Deposit [interest] rates moved higher. Finally, delinquency rates edged up on residential and commercial mortgages.”

Almost everyone now in the corporate news media financial sector is admitting that the U.S. Dollar’s decline is a foregone conclusion in the future.

The only question left is, how quickly will it collapse?

Alasdair Macleod of Goldmoney has written the best analysis of the current U.S. Dollar situation that I have read so far, and it was republished on ZeroHedge News as well.

This is a bit of a long read, but it is well worth it to understand what is probably in store for the U.S. Dollar in the future, as he tackles the question: “How quickly will the dollar collapse?”

If you want a spoiler statement from this article, it would be this:

Assuming that foreign holders reduce their dollar exposure and at the margin buy renminbi (Chinese currency), the fall in the dollar relative to the renminbi could be unexpectedly sudden and substantial.

How Quickly Will the Dollar Collapse?

This article looks at the factors behind the growing rejection of the dollar for trade settlement purposes by non-aligned nations around the world. They no longer fear political or economic reprisals from America.

The dollar’s monopoly was notably challenged by Saudi Arabia, which removed itself from the US’s sphere of influence to that of China and Russia. Consequently, peace has broken out throughout the Arab lands.

But rising interest rates have destabilised western banking systems, which have added to the attractions of payment in China’s renminbi relative to maintaining bank deposits and investments in the currencies of the western alliance — particularly of the dollar. Foreigners hold $7 trillion of deposits and short-term bills and $24.5 trillion in bonds and equities. These balances are becoming surplus to their needs.

The outlook is for US bank credit to contract further, which will drive interest rates even higher. More banks can be expected to fail. Foreigners are bound to become increasingly reluctant to hold dollars, which they will sell. Therefore, the question now is not how much will the dollar decline, but how rapidly. 


We know that the Russia and China’s desire to do away with the dollar is coming true, due to factors beyond their immediate control. Increasing numbers of nations are now committing to accepting payment for cross border trade in currencies other than the dollar, despite US insistence that the only currency for pricing commodities, settling international trade, and therefore the reserve currency must be its own.

We also know that since the Second World War, the US Government has acted robustly against dissenters to enforce its currency monopoly. Libya’s Ghaddafi and Iraq’s Saddam Hussein both proposed new currencies to free themselves from the dollar and came to a sticky end. But all monopolies eventually fail. Encouraged by signs that the dollar’s has now run its course, increasing numbers of nations are abandoning it.

When the US was the world’s policeman, very few countries would have dared to challenge the mighty dollar. American foreign policy was driven by its battle against communism, protecting economic freedom for nations in its sphere of influence. But for the ruling elites around the world, America created distrust and resentment. These are the world policeman’s legacy.

A seminal event, which westerners have mostly forgotten about, was the Asian crisis of 1998. China believes it was planned by the Americans for their own benefit. Here is an extract from an important speech by Major General Qiao Liang, strategist for the Peoples’ Liberation Army, to the Chinese Communist Party’s Central Committee in April 2016, when he laid down what has become China’s version of events:

“What was the hottest investment concept in 1980s? It was the “Asian Tigers.” Many people thought it was due to Asians’ hard work and how smart they were. Actually, the big reason was the ample investment of U.S. dollars.

“When the Asian economy started to prosper, the Americans felt it was time to harvest. Thus, in 1997, after ten years of a weak dollar, the Americans reduced the money supply to Asia and created a strong dollar. Many Asian companies and industries faced an insufficient money supply. The area showed signs of being on the verge of a recession and a financial crisis.

“A last straw was needed to break the camel’s back. What was that straw? It was a regional crisis. Should there be a war like the Argentines had? Not necessarily. War is not the only way to create a regional crisis.

“Thus, we saw that a financial investor called “Soros” took his Quantum Fund, as well as over one hundred other hedge funds in the world, and started a wolf attack on Asia’s weakest economy, Thailand. They attacked Thailand’s currency Thai Baht for a week. This created the Baht crisis. Then it spread south to Malaysia, Singapore, Indonesia, and the Philippines. Then it moved north to Taiwan, Hong Kong, Japan, South Korea, and even Russia. Thus, the East Asia financial crisis fully exploded.

“The camel fell to the ground. The world’s investors concluded that the Asian investment environment had gone south and withdrew their money. The U.S. Federal Reserve promptly blew the horn and increased the dollar’s interest rate. The capital coming out of Asia flew to the U.S.’s three big markets, creating the second big bull market in the U.S.

“When the Americans made ample money, they followed the same approach they did in Latin America: they took the money that they made from the Asian financial crisis back to Asia to buy Asia’s good assets which, by then, were at their bottom price. The Asian economy had no capacity to fight back.

“The only lucky survivor in this crisis was China.”

Whether Qiao was right in his assessment is not the point: this is what the Chinese leadership believes. And in early 2014, they became aware of US plans to stoke up dissent in Hong Kong, which led to student riots later that year. While America has tried several times to provoke China since then (trade tariffs, technology bans, the Huawei saga, Taiwan…), the only action China has taken is to defensively impose greater control over Hong Kong which was demonstrated by American action to be her weak point.

Finally, China’s patience over the dollar appears to be paying off. It has not interfered with America’s global plans, beyond ensuring with Russia that the Asian continent is their joint fiefdom.

But China’s economic tentacles are not confined to Asia. It trades everywhere, and its business and investment plans offer better prospects for all Africa, South America, and even Mexico. If it wasn’t for fear of American reprisals, their support for China and willingness to take its currency in payment would have already happened. But then America took a step too far in sanctioning Russia and leaning on Brussels-based SWIFT to cut Russia out of the dollar-based global payments system.

NATO and the EU fell in line with the Americans, while Asia, numerically far larger in population, backed Russia. The Americans had miscalculated, and for Russia it was business almost as normal while the western alliance suffered soaring energy, commodity, and food prices. This triggered rising interest rates and now credit contraction, leading to an initial banking crisis six weeks ago with the failure of Silicon Valley Bank and Credit Suisse in Europe. In the last six months, the dollar’s trade weighted index has fallen 11%.

Not only has America now demonstrated to every non-aligned nation that its dollar’s power is overrated, but by imposing sanctions on Russia it ended up destabilising its own financial system. And now, non-aligned nations have a free choice: stick with America, its dollar, and its discredited financial system, or deepen ties with China with her credible economic plan and whose economy is now growing.

While there is an element of short-termism in this choice, for the longer-term China offers something which America, its World Bank, and regional network cannot. The World Bank dishes out some charity, which allows it to fill its glossy handouts with tales of doing good. But any emerging nation seeking credit gets it in dollars (which it has to repay, thereby maintaining demand for it) and has to satisfy a business-cum-political case for the loan.

Dealing with China is different. Because her commercial interests align with those of her trading partners, China invests in infrastructure directly on its own or in partnership, building railways, highways, and communications. China can afford to do this because she has a savings driven economy. Furthermore, there are two currencies, onshore and offshore keeping offshore credit from migrating onshore. Therefore, the consequences for consumer price inflation of credit expansion are minimised.

Arguably, a shaky banking system is proving to be the dollar’s final undoing. Nations who hesitated before settling trade in renminbi are no longer doing so, understanding that their dollar reserves and balances are now at risk. There is additional safety in their numbers, because there are too many of them to be picked off by America individually. And if the US banking system continues to crumble, the interconnectedness with the other western alliance currencies is also at risk.

Other than those in the American camp, central banks are also re-evaluating their reserve policies. We have seen them add to their gold reserves, which is the same thing as selling dollars. According to the IMF, total foreign reserves fell by the equivalent of one trillion dollars in 2022, with the dollar content alone falling by $600bn. Renminbi in reserves at the year-end were only $298bn equivalent, so presumably they will be added to.

But is there really a need for currency reserves? The only case that can be made is for exchange rate and crisis management. Extending swap lines is inflationary, and a tool deployed only between the six major central banks — the Fed, Bank of Canada, Bank of England, the ECB, Bank of Japan, and the Swiss National Bank. It’s an elite arrangement that excludes the other 149 central banks.

They only need credit liquidity to settle their trade in other currencies. Therefore, a large proportion of dollar reserves held by central banks, which the IMF puts at $6.471 trillion, is becoming available for sale. To this must be added dollars held by private sector actors in the nostro/vostro correspondent banking system.

The end of the petrodollar’s monopoly

In so far as the public is aware, the dollar’s hiatus kicked off last December, when President Biden visited Saudi Arabia, followed by President Xi. The difference in their reception said it all, with Biden accorded a low-key welcome while Xi was honoured with all the Arab pomp and ceremony Muhammad bin Salman could muster. It was at Xi’s meeting that the Saudis agreed to accept payment for oil in renminbi.

These were merely the latest in a long line of developments. In 2014, a director of one of the major Swiss gold refiners told me that they were working round the clock recasting LBMA 400-ounce bars into the new 99.99 Chinese kilo standard. Bars from the Middle East, many of which appeared to have come out of long-term storage, were being returned to their owners recast to the new kilo standard. The only conclusion is that nine years ago the Arab world saw the future for their wealth being bound up more with China and Asia than with the Europeans and Americans. Coincidently, that was when America was believed by China to be stoking up trouble in Hong Kong, and provoking Russia into taking Crimea.

Further confirmation of how the geopolitical plates were shifting came in 2018 when President Putin and MBS high-fived at the G20 conference in Buenos Aires. From their body language it was clear that there was a confidential understanding between the two leaders and that they were working together. And in the five years since, the determination of Europe and North America to ban fossil fuels entirely has confirmed the foresight of the Arabs who nine years ago were recasting their gold bars into the Chinese standard.

By promising to do away with oil and gas on a rapidly shortening timescale, the West has offered the two Asian hegemons an open goal. Russia, Iran, and Saudi Arabia between them have nearly all the cheap cost oil and have a high degree of price control over global energy markets.

You can tell that America has now lost its influence over the Middle East because peace has returned to the region. Saudi Arabia is mending fences with Iran, Assad of Syria is expected to visit Riyadh shortly, Qatar and Bahrain are resuming diplomatic relations, and the first round of Yemeni peace talks have been successfully concluded. But America is not happy. William Burns from the CIA recently flew to Riyadh seeking a meeting with MBS, presumably to see where the CIA stood in the light of developments and to reconnoitre the situation. The nuclear attack submarine USS Florida transited Suez, in support of the Fifth Fleet and is presumed to be on its way into the Gulf.

Clearly, America’s intention is to escalate tensions, with a threat to attack Iran, whose nuclear programme is well advanced as the excuse. But realistically, the Americans are powerless. And if they do decide to attack Iran, they would also make enemies of the entire region — as MBS surely made clear to William Burns.

Other than security matters, the big issue is over currencies. Of course, the Gulf Cooperation Council members will still accept dollars. But America now has a banking crisis, the Fed itself is deeply in negative equity along with the other major central banks, and foreign holders of dollars have too many for future trade conditions.

The alternative is China and renminbi

It was reported this week that China’s GDP grew by 4.5% in the first quarter of this year, headlined by a recovery in consumer spending with retail sales growing by 10.6% in March alone. And while the west’s financial analysts’ attention is usually directed towards consumer activity first and foremost, everyone else knows that China has a savings driven economy, which allows credit to drive industrial investment without consumer prices inflating. 

There is an understandable fear that China’s demand for commodities will keep prices high at a time when America and Europe will enter recession on the back of contracting bank credit. Furthermore, there has been a lack of new mine discoveries and capital investment in commodity extraction, suggesting that commodity and energy supplies will remain tight. But as yet, in China statistical evidence that credit is driving capital formation is yet to emerge. 

Indeed, the pause in overall capital investment is consistent with China switching its strategic emphasis from its export trade to America and Europe to developing Asian markets. Furthermore, American manufacturers are reassessing their supply chain arrangements in the current geopolitical atmosphere.

But when it comes to choosing currencies, all the non-aligned nations supplying China know that her plans go far beyond domestic manufacturing with an ambition to bring about an industrial revolution throughout Asia. That is in their minds when they contrast receiving payment for exports in dollars to be lodged in the unsafe US banking system, compared with renminbi lodged in a state-guaranteed Chinese bank. And it is also in their minds when they compare the economic prospects for China compared with those of America and its close allies.

Even America’s allies are becoming unsure of their commitment to dollars. France recently accepted payment in renminbi for liquid natural gas. Other members of the European Union are plainly sitting on the fence, aware that to cut themselves off from the largest economy in the world which is growing while America’s is not, is ill-advised.

Furthermore, Europe has direct rail links across the Eurasian continent not just to China, but also to the entire continent. Shortly, they will connect directly to the Indian sub-continent as well, which is now officially the world’s most populous nation. Even the British cannot afford to follow Washington’s lead and restrain trade relations with China.

Trade imbalances are set to increase for America and much of Europe anyway. National accounting identities tell us that in the absence of changes in savings behaviour, a budget deficit leads to a matching trade deficit — the twin deficits syndrome. As contracting bank credit undermines the US economy, the US Government will face declining tax revenues, increasing welfare costs, and soaring borrowing costs.

The deficit on trade will increase in lockstep with the budget deficit— only this time, the balance of payments will almost certainly increase with the trade deficit because foreign exporters are unlikely to retain their dollar payments.

For the US Government and us all, it is likely to become a two-pronged headache. The first is that foreign demand for US Treasuries will not only disappear, but they will turn sellers when the funding requirement is rising.

Secondly, with global trade payments migrating to renminbi and China’s export trade continuing to thrive on filling America’s increasing trade gap, she will be cast as the villain of the peace. And any attempt by the US Government to introduce yet higher trade tariffs and bans on Chinese technology will not remedy the situation.

It must be acknowledged that a consequence of China’s economy expanding while America’s slumps could turn America’s current sabre-rattling over Taiwan into outright conflict.

Assessing the impact of dollar liquidation

There are two elements of dollar liquidation to consider, commencing with liquid bank deposits, certificates of deposit, Treasury, and commercial bills etc. with maturities of less than one year. According to the US’s Treasury International Capital statistics, at end-December these amounted to $7,074bn in credit liabilities due to all foreigners. This is the immediate amount that potentially hangs over foreign exchange markets.

At the same time, US residents have liabilities to them in foreign currencies of the equivalent of only $384bn. The ratio of foreign owned dollars to US owned foreign currency is 18.4 times. Put another way, this is the approximate imbalance between potential dollar selling by all foreigners and the ability of US buyers to absorb it by selling their foreign currency in return for dollars. On the face of it, this differential could fuel a rapid fall in the dollar’s exchange rate against foreign currencies.

It is also possible that a bank will buy in dollars for its own book and creates credit in a foreign currency in favour of the dollar seller. But that activity is likely to be limited to branches of foreign banks in New York with access to the relevant foreign wholesale credit markets and assumes they would wish to buy dollars.

But the most likely method to stop a sliding dollar would be either for the exchange stabilisation fund to intervene, which would reduce broad money supply when the Fed would be struggling to stop it contracting further; or for the Fed to seek cooperation from its swap line partners to buy dollars and sell their own currencies in return, which is highly inflationary.

This leads us to consider the outlook for interest rates and how foreign perceptions of financial risks might change, particularly with regard to systemic risk in the US banking system. We know that a weakening currency tends to lead to higher interest rates. And that rising interest rates might be expected to support the dollar’s exchange rate.

But there is the danger of a negative feed-back loop, whereby risks to the dollar’s exchange rate increases along with interest rates. This is because rising interest rates will destabilise the US economy and government finances, leading to higher budget and trade deficits. And portfolio assets, defined as being of more than one year’s maturity will fall in value.

The chart above shows how foreign holdings of long-term securities have been inflating in recent years on a quarter-to-quarter basis, mainly due to an increase in foreign private holdings. In January, private and public sector holdings totalled $24,548bn. And though choppy, there now appears to be a declining trend. These figures are in addition to foreign owned non-financial assets, such as real estate, farmland, factories, and offices.

US ownership of foreign long-term securities totals $14.263 trillion, of which $10,875bn is in corporate stocks. It should be noted that in the majority of cases, foreign securities are held in dollar-priced American Depository Receipts (ADRs), so that their disposal does not result in foreign exchange transactions, unlike a foreign disposal of a dollar-based asset which does.

But commercial bank credit in major jurisdictions has stopped growing or is even contracting while demand for credit continues to increase. The consequence is that interest rates will continue to rise, due to this imbalance of supply over demand. There is little that central banks can do about it without debasing their currencies.

And because they are under pressure to ensure the funding of their governments’ increasing deficits, they will be forced to accept the market’s pricing of credit. That was the experience of the 1970s.

While everyone’s attention is being misdirected to forecasts of CPI inflation, they appear to be unaware that inflation is not the immediate issue. It is the shortage of bank credit, which is now driving interest rates, not inflation expectations. Accordingly, the outlook is for yet higher bond yields which means that all financial asset values will fall further.

And as they fall, the highly financialised US banking system will be undermined by both investments held on their balance sheet and by collateral held against loans. But this outlook is not confined to dollar markets and is shared by all other western financial centres. As these dynamics become obvious to investors, a global liquidation of financial assets is bound to accelerate, with the exception perhaps of China’s financial markets which are set on a completely different course, and Russia’s which have been completely cut off from global investment flows.

In a general portfolio liquidation, the imbalance between foreign investment in long-term assets and the US ownership of foreign investments will drive relative currency outcomes. In dollars, it is a ratio of $24,548bn to $14,263bn, or approximately 1.72 times. But for foreign exchange purposes, probably less than a trillion dollars are being held denominated in foreign currencies, with the balance in ADRs.

When an ADR is sold, there is no foreign exchange transaction involved, unlike selling of foreign owned US securities. Therefore, a general portfolio liquidation would see an overwhelming excess of dollar selling by foreigners compared with foreign currency liquidation by Americans.

Assuming that foreign holders reduce their dollar exposure and at the margin buy renminbi, the fall in the dollar relative to the renminbi could be unexpectedly sudden and substantial. At least some of the dollar liquidation is likely to fuel energy and commodity prices, whose supply is in many cases too limited to support stockpiling on any scale.

Gold which is likely to be bought because it is still legal money in nearly all foreign jurisdictions. It would mark a foreigner-driven flight out of unanchored credit into physical commodities due to increasing counterparty risk.

The only offset to these negative implications for the dollar’s future is likely to come from other members of the western alliance. As major foreign holders of US Government debt, they can be relied upon to attempt mutual currency support. Doubtless, the Fed and its five partner central banks will increase their swaps to that end as well as to shore up the dollar itself.

But these actors are in the minority measured by the quantities of dollars held, and their attempts to rig foreign exchange markets will only make things worse.

We must therefore conclude that with the evidence pointing to foreign selling of the dollar, that this selling could quickly escalate. Consequently, dollar liquidation by foreigners will lead to significantly higher interest rates which can only be lessened by the expansion of central bank credit.

And that expansion can only come from the Fed because commercial banks are tapped out, seeking to contain their losses and reduce their balance sheet leverage. And if the Fed resorts to the printing press through currency swaps or by other means, the dollar will have had it anyway.

Russia’s position

The Russian economy appears to be doing remarkably well during the current conflict with Ukraine. Taxation and government debt are lower than in any other major economy, and with a few workarounds, the export trade continues in surplus. The conflict in Ukraine has been a financial burden, but not enough to destabilise Russia’s economy.

Payment flows have been diverted from dollars into Chinese yuan, permitting Russian ex-pats around the world to continue to use their credit cards. And Bangladesh has been paying Russia for its Rooppur nuclear power plant construction in yuan via a Chinese bank with access to China’s cross-border interbank payment system. As we have seen so many times in previous cases, sanctions against Russia are proving to be utterly pointless.

While the yuan payments route deals with the current situation, we can be sure that Russia will want to have a payment medium under its own control. It is to that end that on Putin’s behalf Sergey Glazyev is working on a proposal for a new trade settlement currency for the Eurasian Economic Union. The indications are that it will be based on gold, and it is likely from what Glazyev has publicly written that the rouble will move onto a gold standard of sorts as well.

The immediate benefit to Russia’s business community is that current interest rates of over 10% will fall substantially. It compares with a consumer price inflation rate of 3.5%, but that is heavily distorted by previously high CPI inflation rates. Nevertheless, anything that reduces interest rates in this lower inflation environment will encourage the growth in credit to maximise economic potential.

The key to it is for the value of credit to be anchored to gold to introduce permanent price stability. Only then can rouble interest rates decline to a few per cent permanently. 

The rouble would then be in a position to challenge a fiat yuan as a payment medium. And with Russia’s new relationship with the Gulf Cooperation Council members, no doubt a gold-backed rouble would be readily accepted by the Saudis and others for energy payments, even in preference to yuan.

The negotiations between Russia and China on this point are likely to be tricky. But given that we know China has massive undeclared gold stocks anyway, talks can be resolved in the interests of a stable monetary relationship between the two hegemons. Of more importance perhaps, is the question of at what gold value the rouble will be exchangeable for notionally or actually, given that Putin’s unfriendlies face a financial, banking, and fiat currency crisis likely to drive fiat values for gold considerably higher as they rapidly lose purchasing power.

Read the full article at Goldmoney.com, cross-posted from Medical Kidnap.

The post As U.S. Bank Deposits Resume Outflows, How Quickly Will The U.S. Dollar Collapse? appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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Bragg Drops Case Against Jordan, Allowing House GOP to Depose Ex-Manhattan Prosecutor

Reprinted from NOQ report.

Manhattan District Attorney Alvin Bragg has dropped his effort to quash a congressional subpoena to a former prosecutor who worked in his office, a congressional aide told The Epoch Times in a statement on Friday.

“This evening, the Manhattan District Attorney’s Office withdrew its appeal in Bragg v. Jordan. Mr. Pomerantz’s deposition will go forward on May 12, and we look forward to his appearance,” Russel Dye, spokesperson for Rep. Jim Jordan (R-Ohio), chair of the House Judiciary Committee, wrote to The Epoch Times in a statement.

“Bragg caved. Jim Jordan won,” the House Judiciary Committee wrote in a statement on Twitter Friday.

The development wrapped up a legal clash between Bragg and House Judiciary Republicans, whereby Bragg had attempted to stop the lawmakers from requesting testimony from Mark Pomerantz, a former prosecutor who investigated former President Donald Trump’s finances. Pomerantz left Bragg’s office in February 2022 in protest of Bragg’s initial unwillingness to bring an indictment against Trump.

A grand jury, encouraged by Bragg, brought an indictment against Trump in late March, prompting Jordan to initiate a probe into what he calls a “politically motivated” prosecution against a former president. Jordan subpoenaed Pomerantz to seek his testimony as a part of that probe. In response, Bragg sued the House Judiciary Committee and Pomerantz to prevent Pomerantz from testifying.

That lawsuit led to a hearing on Wednesday in the Southern District Court of New York, and a subsequent decision by District Judge Mary Kay Vyskocil, a Trump appointee, ordered that the congressional panel has the authority to become involved in the investigation of Trump and declined Bragg’s request for a court injunction on the congressional subpoena.

Bragg wrote in a court filing that he intended to appeal the lower court’s decision to the 2nd Circuit Court of Appeals on April 19. On the same day, the court issued a temporary administrative hold on the return date of the House Judiciary Committee’s congressional subpoena of Pomerantz. This administrative hold did not reflect the court’s opinion on the merit of Bragg’s case, the court indicated in an April 19 filing, but serves as a short pause as the court considers whether to extend the freeze on the subpoena as Bragg appeals the case.

A three-judge panel was originally scheduled to decide early next week on this matter.

Bragg on Friday dropped the appeal, wrapping up the legal contention between him and the House lawmakers.

“Our successful stay of this subpoena blocked the immediate deposition and afforded us the time necessary to coordinate with the House Judiciary Committee on an agreement that protects the District Attorney’s privileges and interests. We are pleased with this resolution, which ensures any questioning of our former employee will take place in the presence of our General Counsel on a reasonable, agreed upon timeframe. We are gratified that the Second Circuit’s ruling provided us with the opportunity to successfully revolve this dispute,” Bragg’s office wrote in a statement on Friday on Twitter.

Judge’s Comments

During the district court hearing on Wednesday, the court affirmed the congressional lawmakers’ position that requesting Pomerantz’s testimony serves a valid legislative interest and that Pomerantz, due to his own conduct, is not protected by confidentiality privileges.

In her order, Vyskocil agreed with the congressional lawmakers’ reasoning that testimony by Pomerantz can help inform current and pending legislation. This includes a bill that, if enacted into law, would bar the use of federal funds to investigate a sitting or former president (the Accountability for Lawless Violence In our Neighborhoods, or ALVIN, Act) and another that would allow Congress to remove an action or prosecution against a former president (H.R. 2553).

“It is not the role of the federal judiciary to dictate what legislation Congress may consider or how it should conduct its deliberations in that connection,” the judge wrote, adding that the U.S. Constitution protects lawmakers from litigation when their actions serve a valid legislative interest.

She rejected Bragg’s attempt to use a Supreme Court decision (Trump v. Mazars) to justify his case. In that decision, the highest court ruled in Trump’s favor and stated that the congressional committees couldn’t subpoena Trump’s financial statements because doing so would violate the separation of power between the executive and legislative branches.

During the Wednesday hearing, Bragg’s attorneys said that the reasoning in Trump v. Mazars applies to this case, and that the committee’s subpoena is an unconstitutional intrusion of the legislative branch into a state executive branch prosecution. Vyskocil disagreed.

“The congressional subpoena in Mazars was directed at materials pertaining to the sitting President of the United States,” Vyskocil wrote in her ruling, noting that Trump clearly represented the executive branch then.

“In contrast, here, the subpoena was issued to a private citizen who is no longer employed by any state government and who has written a book and spoken extensively about the subject matter of the congressional inquiry,” she wrote. “The Court is not persuaded that Mazars applies to this case.”

In her ruling, Vyskocil also rejected Bragg’s reasoning that Pomerantz enjoys confidentiality privileges and thus must not be compelled to reveal information about his former employment at the Manhattan DA’s office. Vyskocil noted that because she cannot predict what Congress would ask and what Pomerantz would say, it is not logical to say that such hypothetical statements would violate privilege.

“Bragg’s throw-everything-at-the-wall approach to privilege is unpersuasive,” Vyskocil wrote. “This Court will not quash a subpoena based solely on Bragg’s seemingly endless string of ‘what ifs.’”

Pomerantz, in an April 17 court filing, wrote that he would be put in an “impossible position” if he were to testify in Congress because he could face criminal prosecution if he testifies—violating confidentiality laws—or if he refuses to testify—committing contempt of Congress.

The judge dismissed this concern.

“[T]he Court notes that Pomerantz is in this situation because he decided to inject himself into the public debate by authoring a book that he has described as ‘appropriate and in the public interest,’” Vyskocil wrote in her Wednesday order.

“[Bragg] cannot seriously claim that any information already published in Pomerantz’s book and discussed on prime-time television in front of millions of people is protected from disclosure as attorney work product (or otherwise).”

Article cross-posted from our premium news partners at The Epoch Times.

The post Bragg Drops Case Against Jordan, Allowing House GOP to Depose Ex-Manhattan Prosecutor appeared first on NOQ Report – Conservative Christian News, Opinions, and Quotes.

NOTE: The opinions expressed in the NOQ REPORT are not necessarily those of "Cogny Mann." But it is certain that we share a lot of overlap in our philosophies and worldviews.

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