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Quinn: It’s A ‘Fourth Turning’, What Did You Expect?

Quinn: It’s A ‘Fourth Turning’, What Did You Expect?

Authored by Jim Quinn via The Burning Platform blog,

“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it….

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Quinn: It's A 'Fourth Turning', What Did You Expect?

Authored by Jim Quinn via The Burning Platform blog,

“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is a howling whiteness. One by one, your links to the machine age break down. Electricity flickers out, cutting off the TV. Batteries fade, cutting off the radio. Phones go dead. Roads become impossible, and cars get stuck. Food supplies dwindle. Day to day vestiges of modern civilization – bank machines, mutual funds, mass retailers, computers, satellites, airplanes, governments – all recede into irrelevance. Picture yourself and your loved ones in the midst of a howling blizzard that lasts several years. Think about what you would need, who could help you, and why your fate might matter to anybody other than yourself. That is how to plan for a saecular winter. Don’t think you can escape the Fourth Turning. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted.” – The Fourth Turning – Strauss & Howe

“In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. If foreign societies are also entering a Fourth Turning, this could accelerate the chain reaction. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” – The Fourth Turning – Strauss & Howe

I’ve been pondering this Fourth Turning in articles since its spectacular onset in September 2008, with the Wall Street/Federal Reserve initiated global financial implosion. The description above is apt, as this ongoing two-decade long storm gains intensity and our freedoms, liberties and rights are slowly extinguished as the electricity flickers and our modern civilization reverts to a more brutish state of antipathy among competing tribes, based on race, gender, class, party, geographic location, and now medical status.

We are in the midst of a saecular winter that is guaranteed to become more violent and bitter, as the malevolent forces propelling this Crisis have decided to ramp up fear propaganda to implement their global reset, using authoritarian methods to compel the masses to comply. I’ve intellectually understood we would be faced with trials and tribulations that would threaten the continuation of our way of life and survival as a unified nation. The reality is proving to be far worse. The core elements of debt, civic decay, and global disorder are most certainly propelling this Crisis towards its bloody climax. I knew there was no way to sidestep or escape this Fourth Turning.

But I didn’t expect a Deep State coup against a sitting president; a stolen presidential election through the collusion of the surveillance state, Big Tech, Big Media and billionaire oligarchs; a weaponized flu used as cover for an imploding financial system; an authoritarian global lockdown which has destroyed small businesses and impoverished the working class, while enriching mega-corporations and the elite ruling class; and now a Big Pharma experimental gene therapy disguised as a vaccine used to divide America into hostile tribes spewing hate online, with a strong possibility of violence because Biden and his handlers are attempting to provoke those refusing his vaccine mandate into committing acts of aggression.

Those trapped in their self-induced stupor of normalcy bias, with an ample helping of cognitive dissonance, do not or will not see the coming storm as it wipes out all vestiges of their modern techno-consumption society. Supply chains are imploding as we speak., creating shortages, soaring prices, and possibly empty food shelves in the near future.

I find it both fascinating and disturbing to observe the level of madness engulfing our world, as the sociopath class of mind manipulators and propaganda specialists use their well-honed psychological techniques to scare the masses into subservience and implement their diabolical Great Reset plan where we own nothing, they own everything, and our future is a boot stamping on our faces forever. They are using our willful ignorance, technological bread and circuses, inability to understand risk, and susceptibility to fear exploitation, to increase their power and control over governmental, financial, and societal levers.

They want us under-educated and over-medicated. That is how they broaden their wealth, power and control. None of what has happened since the Fall of 2019 has occurred by accident or due to bad luck. It has been scripted, according to the plan agreed upon by the global elites (Gates, Soros, Schwab, Bloomberg, Zuckerberg) and implemented by corrupt politicians (Biden, Cuomo, Newsom, Whitmer), captured bankers (Powell, Dimon), corporate shysters (Bezos, Musk), and of course the compliant fake news propaganda media (CNN, MSNBC, NYT, Washington Post).

When overnight repo rates began hitting 10% in September of 2019, Jerome Powell was ordered to start cutting rates and restart QE. The global elite were in danger of seeing a reduction in their ungodly level of wealth. In an amazing coincidence, Event 201 took place in October 2019, simulating a global pandemic, and run by Bill Gates, the World Economic Forum (Schwab), Johns Hopkins, and members of the MSM.

It just so happened a bio-weapon lab in Wuhan, working on gain of function viruses, funded by Anthony Fauci, accidentally or purposely released a highly transmissible but relatively non-lethal (to anyone under 80 or not weighing 275 pounds) virus in November 2019. It appears the Chinese covered this up for at least two months, while allowing it to spread across the globe. The WHO, WEF, Fauci and the Trump hating media covered up the facts about China’s creation of this pandemic of fear.

An over-hyped pandemic with a scary name and an unlimited marketing campaign was just what the doctor ordered to set the Build Back Better Great Reset plan in motion. It gave Powell and the Fed cover to unleash trillions in electronic money printing to sustain and enrich their Wall Street owners, billionaire oligarchs, and politicians spending trillions to prop up an economy they purposely shut down. It gave Democrat governors and mayors the cover to implement their “steal the election” plan through massive mail-in ballot fraud, because it was too dangerous to stand in line to vote, but not too dangerous to stand in line 50 deep at Costco, Wal-Mart, or Target.

The mandatory lockdowns and mask mandates were tests to see how far they could push the masses before they pushed back. The oligarchs were delighted to observe millions of losers who had no meaning in their worthless earthly existence thus far, believe they were now brave noble heroes by cowering in their basements, ordering takeout from Taco Bell, watching Netflix, and putting on a face diaper in public, even though Fauci and every scientific study ever done proved masks are worthless against viruses.

The campaign of fear, aided and abetted by Hollywood, the corporate media propaganda networks, the Big Tech social media censorship police, teachers’ unions, and tyrannical left-wing governors, worked to perfection as decades of government school socialization and indoctrination has created a nation of terrified sheep easily ruled by loathsome Machiavellian wolves.

The arrogance and hubris of the malevolent globalist oligarchy has attained epic heights, as they successfully stole a presidential election and completed their four-year coup against Trump. They have flogged the January 6 unarmed selfie insurrection to death with their media lapdogs to keep the Trump forces on the defensive. They have installed a dementia ridden empty vessel Trojan horse as president, with a vacuous hateful kackling hyena as vice president, as a means to implement their master plan of destroying what remains of a once great nation.

I wrote an article two weeks after Biden’s installation called Illegitimate President, laying out the case this was a coup by the Deep State and billionaire oligarchs, and still stand by ever word I wrote, as my worst fears have been exceeded during Biden’s first eight months in office. This Chinese controlled, child fondling, teleprompter reading, senile, divider in chief is not my president. I will never recognize him as my president.

We are in the midst of a civil war, with only the bad guy’s waging battle against the Constitution, our freedoms, our liberties, and the societal norms which have formed the foundation of our country since 1776. Thus far, there has been little to no push back from the good guys. The outcome of this Fourth Turning hinges upon the willingness of a minority of like-minded, critical thinking, dissenting Americans to stand-up and stop these evil men from turning our country into tyrannical techno-gulag of oppression.

The specific events that drive a Fourth Turning are never the same, as technology advances, empires rise and fall, and global interconnectedness increases. What doesn’t change is human nature, with all its downsides of greed, envy, hubris, murder, and hate. Throughout history sociopaths have risen to power, showing no empathy for their fellow man, seeking power and control over their people, attempting to conquer and destroy other countries, and prone to commit atrocities on a grand scale against their own citizens. This Fourth Turning is no different.

It rhymes with aspects of our previous three Fourth Turnings, but has its own distinctive facets, not experienced before. The American Revolution Fourth Turning featured a tyrannical despot as the provocateur. The Civil War Fourth Turning saw a divided nation, with half the population going to war against the other half. The Great Depression/World War II Fourth Turning contained a global financial crisis, creation of the welfare state, authoritarian edicts from a dictator-like president and the bloodiest conflict in human history.

Characteristics of all these Crisis periods can be seen during this Fourth Turning, as a global financial crisis triggered its onset, government bailouts and a vast expansion of the welfare state has taken place, and the president and politicians across the land have trashed the Constitution and assumed dictatorial powers over their subjects. Does a bloodier war await? Or will it be a technological war that destroys our modern world?

The twist in this Fourth Turning has been the emergence of the Deep State, in collusion with Big Tech, Big Pharma, Big Media, Wall Street, and the globalist billionaire cabal to strip the people of their rights while convincing a huge swath of willfully ignorant frightened sheep they are doing it for their own good. This is how evil wins. This is how a society devolves into tyranny and dictatorship. The immense level of unpayable debt underlies everything happening. The actions taken by central bankers at the behest of their Wall Street owners and captured politicians are an act of desperation to keep this debt pyramid scheme from imminent collapse, but virtually assures a far worse outcome of hyperinflation and depression.

The decades of civic decay, initiated and encouraged by those pulling the levers behind the scenes, have hollowed out our society and created animosities which are now irreconcilable and fatal. It’s only a matter of time until the shooting begins. The global disorder seems contrived and planned as part of the globalist Great Reset scheme to create a new world order, where the plebs will own nothing, and the elites will run the show and reap the riches.

In March 2020, at the outset of this plandemic, I was already skeptical, suspicious, and convinced the globalist oligarchy were using this virus as a means to implement their diabolical plan to reset the world in the method of their choosing. In my article at the end of March – P for Pandemic – I predicted a vaccine would be miraculously discovered and everyone would be forced to take it or be arrested. Little did I know Gates and Fauci already had a “vaccine” waiting in the wings, in collusion with their Big Pharma co-conspirators. It seems the plot from V for Vendetta has been playing out just as V stated during his speech to London.

“Because while the truncheon may be used in lieu of conversation, words will always retain their power. Words offer the means to meaning, and for those who will listen, the enunciation of truth. And the truth is, there is something terribly wrong with this country, isn’t there? Cruelty and injustice, intolerance, and oppression. And where once you had the freedom to object, to think and speak as you saw fit, you now have censors and systems of surveillance coercing your conformity and soliciting your submission. How did this happen? Who’s to blame? Well, certainly, there are those who are more responsible than others, and they will be held accountable. But again, truth be told, if you’re looking for the guilty, you need only look into a mirror. I know why you did it. I know you were afraid. Who wouldn’t be? War, terror, disease. They were a myriad of problems which conspired to corrupt your reason and rob you of your common sense. Fear got the best of you, and in your panic, you turned to the now high chancellor, Adam Sutler. He promised you order, he promised you peace, and all he demanded in return was your silent, obedient consent.” – V speech to London

Everything in this speech applies to our current state of affairs. Just replace the name Adam Sutler with any combination of Biden, Fauci, Gates or Schwab. But there is no super-hero in the wings ready to inspire the nation towards revolution against the dark forces who have taken the reins over our society. We have now entered one of the most dangerous periods in the country’s history. We have been continuously lied to by so called “experts”. Are they just incompetent or do they have another agenda? The rollout of the experimental gene altering therapies by Big Pharma was touted by Fauci, Biden, Walensky and their media mouthpieces as a miracle cure for Covid which would eradicate this virus and save the world.

This was before the Orwellian doublespeak campaign of revisionist history was implemented with haste, due to the vaccine narrative collapsing under the weight of facts, data, doctors and journalists brave enough to speak out and warn the public. Most have been disappeared from social media by the Silicon Valley thought police. Prior to this scamdemic, the definition of a vaccine was well defined and unquestioned by the scientific community. A vaccine was designed to prevent a disease from occurring. The polio vaccine and smallpox vaccine didn’t lessen the symptoms of those diseases. They protected you from ever getting them.

At minimum a vaccine provides immunity against the disease. As these mRNA “vaccines” have been jabbed into over 1 billion people on the planet, it seems they don’t make you immune from the virus, don’t protect you from getting the virus, don’t keep you from spreading the virus, and don’t even protect you from being hospitalized or dying from the virus. Even their latest re-definition of vaccine, changed by those controlling the narrative doesn’t apply.

The fact these “vaccines” are a complete and utter failure, as new “cases” using the purposely faulty and FDA recalled PCR test surged to 170,000 per day in early September with 180 million Americans fully vaccinated versus 45,000 per day last September with ZERO Americans vaccinated, is not allowed to be spoken. Deaths “with Covid” are averaging 2,000 per day now versus 800 per day last September with no one vaccinated. How can this data not be interpreted as a complete failure of the vaccines? The data has proven, any effectiveness wanes after a few months. Boosters for eternity would certainly benefit Pfizer’s bottom line and keep Fauci on the left-wing Sunday propaganda outlets.

But Twitter always has a blurb in the upper right corner under “What’s Happening” saying Covid Vaccines are Safe & Effective. I’ve also seen 5,000 TV commercials where famous athletes, pop singers, and Hollywood stars tell me the same thing. They wouldn’t lie, right? Twitter also has Experts Say Masks are Safe & Effective in Preventing Spread of Covid-19 at the top right every day. Lastly, Twitter and the MSM consistently post articles and commentary saying Ivermectin is Not Approved by the FDA for Treating Covid-19 and is only for cows and horses.

We wouldn’t want to eat into the billions of Big Pharma profits by actually promoting a safe, effective, and cheap drug which has virtually eradicated Covid in India. It’s funny, but if you Google Israel covid cases versus India covid cases, you cannot find this graph. I guess proof the most vaxxed country in the world is experiencing the largest surge in cases in the world versus one of the least vaxxed countries in the world, who distributed mass quantities of ivermectin to its people, is experiencing no surge might be an inconvenient truth to the Covid vaccine narrative police.

They do make it easy to distinguish their lies, misinformation, and propaganda from the truth. It is a scientific fact masks don’t work. A vaccine that doesn’t keep you from getting the virus is not effective. A vaccine that has caused at least 650,000 adverse reactions, 86,000 serious injuries and 14,000 deaths, according to the VAERS database, doesn’t sound “safe” to me. But what do I know? I’m one of those unvaxxed domestic terrorists Biden thinks should wear a yellow star and have my livelihood destroyed as punishment for my non-compliance with his demands.

The potential long-term consequences of these gene therapies are completely unknown, but many renowned doctors (censored by Twitter & Facebook) worry ADE (antibody dependent enhancement) will wreak havoc in the not-too-distant future. Real fact checkers, not the current batch of Orwellian thought police, would conclude these vaccines are anything but safe and effective.

If these vaccines are clearly not doing what they were advertised to do, and natural immunity is proving to be 20x as effective in fending off the Delta variant, why is Biden and Fauci doubling down with vaccine mandates, vaccine passports, forcing vaccinations on people who already have natural immunity, and shaming those who choose not to be lab rats in this Big Pharma experiment, where they have ZERO liability for injuries or deaths caused by their concoctions? One of the inventors of the mRNA therapies, who has been a thorn in the side of Fauci and his fellow Big Pharma whores, has similar questions and doubts about the true purpose and agenda behind these mandatory jabs.

It should be clear to any open-minded critical thinking individual this has never been about your health, but about their insatiable appetite for power and control over how our society functions, who benefits, and who reaps the financial rewards. Always follow the money. Big Pharma generates a huge portion of advertising revenues for Big Media and the Medical Industrial complex of hospitals, doctors, and researchers. We are fighting a corporate fascist Deep State behemoth, aided, and abetted by Zuckerberg, Dorsey, Gates, Soros, and numerous other sociopaths in government, media, and the corporate world.

Their chosen medium to compel obedience is fear. It has proven to be tremendously effective in herding the sheep towards the slaughterhouse. Imagine convincing tens of millions to quiver in fear, locked in their homes, wearing face diapers for months on end, and volunteering to be the research in a Big Pharma money making scheme over a virus with a 99.7% survival rate, that only kills the very old, very sick and very obese.

A virus so scary most people don’t know they have it until they get a positive test result from a purposely flawed test. Now the fear has turned to loathing, as those who believed their patron saint of covid – Anthony Fauci – are embarrassed by the fact they were convinced to get jabbed under false pretenses and now look like fools for believing they would be protected from the dreaded Rona. A basic risk/benefit analysis tells the true story.

Bertrand Russell captures the reaction of the vaxxed perfectly.

“Collective fear stimulates herd instinct and tends to produce ferocity toward those who are not regarded as members of the herd.” ― Bertrand Russell

The herd was corralled by fear into believing the vaccines would protect them. At first, they virtue signaled their intellectual superiority and contributions to mankind by getting the jab. Only foolish stupid Trumpers would resist this miracle drug, even though it was Trump that allowed Big Pharma to skip about three years of trials to rush the vaccines to market. The covid vaxx cultists thought they could shame the immune system reliant into following them down the path of forlorn hope.

Now that the vaccines have proven to be useless, dangerous, and possibly a way to cull the herd over time, the herd has turned their anger on the unvaxxed with a ferocity usually reserved for a DeSantis or Trump press conference. The vaxxed are angry because the unvaxxed are putting them at risk because their vaxx doesn’t work. Got it? And this anger is being stoked by Biden and his minions, as they attempt to create chaos, havoc, and violent upheaval in this country.

The initial reaction to that last statement would be doubt and resistance to the thought of a sitting president and his handlers purposely trying to destroy the underpinnings of our nation. But, as proof human nature does not change, the inimitably observant, skeptical, and cynical about government writer, H.L. Mencken, couldn’t have described the forces at play any better than he did 95 years ago.

“Yet behind the majority, often defectively concealed, there is always a sinister minority, eager only for its own advantage and willing to adopt any device, however outrageous, to get what it wants. We have a puppet in the White House, pulled by wires, but with dangerous weapons in its hands. Law Enforcement becomes a new state religion. A law is something that A wants and can hornswoggle B, C, D, E and F into giving him – by bribery, by lying, by bluff and bluster, by making faces. G and H are therefore bound to yield it respect – nay, to worship it. It is something sacred. To question it is to sin against the Holy Ghost.” – H.L. Mencken, 1926

There has always been a sinister minority operating in the shadows pulling the wires of whoever is in the White House. If they do not comply with the orders of those pulling those wires, they receive the JFK treatment. Trump’s non-compliance resulted in the Deep State coup which removed him from office. With an avalanche of extra-judicial executive orders, mandates, and un-Constitutional actions, Biden is doing the bidding of those who installed him to take down America.

Those controlling Biden believe they are intellectually superior and must use psychological manipulation and Bernaysian propaganda techniques to achieve their goal of one world government in which they rule over us with an iron fist and technological surveillance.

These sociopaths believe their evil means justify ends which benefit themselves. Freedom, liberty, free speech, choice about medical treatments, and the rights granted under the Constitution are antiquated notions in the minds of these maniacal tyrants. This Fourth Turning hinges on the coming conflict between this sinister minority and a thus far silent, but heavily armed majority.

This is a revolution initiated by those at the top of the pecking order in a bold attempt to increase and consolidate their power, control, and wealth. This revolution will not bring prosperity to the people but is designed to benefit a brazen few who care not for the average American. This oligarch revolution heralds immense death and destruction, either through medicinal methods or violence in the streets. Widespread impoverishment of the masses is a certainty once the underpinnings of this financial system give way. If they succeed, the degeneration of our society into a dystopian nightmare is a distinct possibility.

But here is where hope enters the picture. There are far more of us than them. They attempt to give the appearance of superiority and strength, but their hold over the levers of power is tenuous. Once a few brave dissenters begin to stand up and resist, the masses will hesitantly begin to follow. We are approaching a crucial point where we either bow down to the sinister minority or make our last stand.

I have been trying to figure out the path of this Fourth Turning for the past thirteen years. What I do know is it keeps getting worse as time passes, with 2020 initiating the next leg down and 2021 devolving into a battle between the forces of oligarch evil and the majority of good people just trying to live their lives. I don’t know what happens next, but I do know the next few years will herald much pain, acrimony, bloodshed, and sacrifice on the part of many good people, if we are to retain any semblance of the nation we once celebrated.

“The risk of catastrophe will be very high. The nation could erupt into insurrection or civil violence, crack up geographically, or succumb to authoritarian rule. If there is a war, it is likely to be one of maximum risk and effort – in other words, a total war. Every Fourth Turning has registered an upward ratchet in the technology of destruction, and in mankind’s willingness to use it.” – Strauss & Howe – The Fourth Turning

“History offers no guarantees. Obviously, things could go horribly wrong – the possibilities ranging from a nuclear exchange to incurable plagues, from terrorist anarchy to high-tech dictatorship. We should not assume that Providence will always exempt our nation from the irreversible tragedies that have overtaken so many others: not just temporary hardship, but debasement and total ruin. Losing in the next Fourth Turning could mean something incomparably worse. It could mean a lasting defeat from which our national innocence – perhaps even our nation – might never recover.” – Strauss & Howe – The Fourth Turning

Our goal should be to act in a way that would make the Founding Fathers, who initiated our first Fourth Turning, proud of our deeds and actions. The enemy currently holds the high ground, but we are the many. The storm has arrived, and our very survival hangs in the balance. I hope there are enough of us willing to sacrifice our lives for the restoration of the Republic, given to us by Washington, Adams, Jefferson, Franklin and the rest of the Founders. Good luck and Godspeed.

*  *  *

The corrupt establishment will do anything to suppress sites like the Burning Platform from revealing the truth. The corporate media does this by demonetizing sites like mine by blackballing the site from advertising revenue. If you get value from this site, please keep it running with a donation.

Tyler Durden Mon, 09/20/2021 - 16:41

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Economics

China Coal Prices Soar To Record As Winter Freeze Spreads Across The Country

China Coal Prices Soar To Record As Winter Freeze Spreads Across The Country

One week ago we discussed why the "worst case" scenario for China’s property crisis is gradually emerging; to this we can now add that China’s worst case energy…

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China Coal Prices Soar To Record As Winter Freeze Spreads Across The Country

One week ago we discussed why the "worst case" scenario for China's property crisis is gradually emerging; to this we can now add that China's worst case energy crisis scenario is also about to be unleashed as cold weather swept into much of the country and power plants scrambled to stock up on coal, sending prices of the fuel to record highs.

Electricity demand to heat homes and offices is expected to soar this week as strong cold winds move down from northern China, according to Reuters with forecasters predicting average temperatures in some central and eastern regions could fall by as much as 16 degrees Celsius in the next 2-3 days.

Shortages of coal, high fuel prices and booming post-pandemic industrial demand have sparked widespread power shortages in the world's second-largest economy. Rationing has already been in place in at least 17 of mainland China's more than 30 regions since September, forcing some factories to suspend production and further disrupting already broken supply chains.

On Friday, the most-active January Zhengzhou thermal coal futures closed at a record high of 2,226 per tonne early. The contract has risen almost 200% year to date.

China's three northeastern provinces of Jilin, Heilongjiang and Liaoning - also among the worst hit by the power shortages last month - as well as several regions in northern China including Inner Mongolia and Gansu have started winter heating, which is mainly fuelled by coal, to cope with the colder-than-normal weather.

Meanwhile, even though Beijing has taken a slew of measures to contain coal price rises including raising domestic coal output and cutting power to power-hungry industries and some factories during periods of peak demand, so far all measures have failed with coal surging by 40% in just the past three days. Beijing has also repeatedly assured users that energy supplies will be secured for the winter heating season, and went so far as to order energy firms to "secure supplies at all costs." Well, the energy firms heard it, because on that day, thermal coal closed at 1,436 yuan. Two weeks later it is some 800 yuan higher.

Unfortunately for Beijing, the power shortages are expected to continue into early next year, with analysts and traders forecasting a 12% drop in industrial power consumption in the fourth quarter as coal supplies fall short and local governments give priority to residential users.

Earlier this week, we reported that China undertook its boldest step in a decades-long power sector reform when it allowed coal-fired power prices to fluctuate by up to 20% from base levels from Oct. 15, enabling power plants to pass on more of the high costs of generation to commercial and industrial end-users. read more

Steel, aluminium, cement and chemical producers are expected to face higher and more volatile power costs under the new policy, pressuring profit margins.

Meanwhile, the latest Chinese "data" on Thursday showed factory-gate inflation in September hit a record high; but since thermal coal is the one commodity that correlates the closest to PPI, absent a sharp drop in coal prices in the next few weeks, expect the next PPI print to be far higher. Meanwhile as the power crisis leads to further shutdowns in domestic production, some banks - such as Nomura - have gone so far to predict that China's GDP is set to shrink in coming quarters.

China, which laughably aims to be "carbon neutral" by 2060 even as its president announced he will skip the COP26 UN Climate Change Conference in Glasgow, has been "trying" to reduce its reliance on polluting coal power in favor of cleaner wind, solar and hydro. But coal remains the source for some 70% of China's electricity needs.

Of course, China is not the only nation struggling with power supplies, which has led to fuel shortages and blackouts in many European countries. and threatens to send US heating bills up as much as 50% this winter. he crisis has highlighted the difficulty in cutting the global economy's dependency on fossil fuels as world leaders seek to revive efforts to tackle climate change at talks next month in Glasgow.

China will strive to achieve carbon peaks by 2030, Vice Premier Han Zheng said in a video message at the Russian Energy Week International Forum, according to state-run news agency Xinhua late on Thursday. He also said that China and Russia are important forces leading the energy transition and they should cooperate and ensure smooth progress of major oil and gas pipeline and nuclear power projects.

Translation: Russia better save that nat gas and not ship it to Europe as China will soon be needed even BCF Russia an provide. As for China

 

Tyler Durden Fri, 10/15/2021 - 22:50

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Government

Distraction As Policy While Our Economic Rome Burns

Distraction As Policy While Our Economic Rome Burns

Authored by Matthew Piepenberg via GoldSwitzerland.com,

Desperation and distraction are masquerading as economic policy. Below we see how and why…and at what cost…

COVID: The Great..

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Distraction As Policy While Our Economic Rome Burns

Authored by Matthew Piepenberg via GoldSwitzerland.com,

Desperation and distraction are masquerading as economic policy. Below we see how and why...and at what cost...

COVID: The Great Economic and Political Hall-Pass

If every time I stole a cookie from the jar in front of my mom (age 8), or drove dad’s car (sometimes into a tree) without permission (age 16), failed a dorm-room inspection (age 17), broke a lawnmower for driving over a fence post (each year) or forgot a key anniversary (eh-hmm), it would have been so convenient to have a universal “hall pass” to excuse what is/was otherwise just plain stupid behavior.

Luckily for the grown children running our global financial system into the ground, the COVID pandemic is becoming precisely that: “A global hall pass for excusing decades of stupid.”

As we’ve written many times, inexcusably high debt levels, tanking growth data, struggling work force figures, embarrassing wealth disparity and insider market rigging between Wall Street and DC was well in play long before COVID made the headlines.

But now, the architects of such “pre-COVID stupid” have the current COVID narrative to justify and excuse even, well… more stupid.

The Latest Jobs Report “Explained” …

Take, for example, the latest job reports data from those DC-based creative writers at that comic-book publication otherwise known as the Bureau of Labor Statistics (BLS).

Known for years on Wall Street as mathematical magicians capable of turning 12% inflation into a 2% CPI lie, that same BLS is operating yet again to fib away the latest (and otherwise telling) jobs data.

The September jobs report was the second consecutive and disappointing report from the BLS, which they were quick to blame on “pandemic-related staffing fluctuations.”

Hmmm. That’s a nice phrase, no? “Pandemic-related staffing fluctuations.”

But the real description boils down to something more PRAVDA-like under the new Biden Vaccine Mandate, namely: “Obey or we take your job away.”

Needless to say, not everyone is obeying.

Since 2020, employment in local government education is down by 310,000; in state government education, employment is down by 194,000 jobs, and in private education the numbers are down by 172,000.

Ouch.

Why such “staffing fluctuations”?

The answer is simple: Many educated folks in the education sector don’t like being mandated to inject a vaccine into their bodies which by all reports from vaccinated infection rates, is no vaccine at all, but a debatable form of treatment at best.

Thankfully for all of us, I’m not interested in debating the hard vaccine data here, as folks like me should not be proffering unwanted medical expertise, which I clearly lack.

No one, myself included, really knows everything about mutating virology, but I’d wager to say that many of us are more mathematically dubious than Fauci is medically honest…

Jefferson (and History) Ignored

For followers of American history and markets, however, certain ideals and facts are easier to track despite distraction-as-policy tactics.

We are reminded, for example, of how passionately Thomas Jefferson warned us circa 1776 that a private central bank would eventually destroy our nation, and that only an educated population could save it.

Sadly, the new President is taking the inverse approach: Firing teachers and propping bankers.

Fast-forward some 240+ years from our founding fathers to our semi-conscious Biden, and we discover a nation wherein a private central bank effectively finances our national debt while the teachers, students and institutions charged with making citizens wiser, educated and free now find themselves locked out of their offices, classrooms and lecterns.

Seems a little upside down, no?

Red or blue, most of us can agree than nothing coming out of the White House in recent memory remotely resembles the vision or freedom-driven intellect of founding fathers like Jefferson, despite his known flaws.

Instead, we have seen red and blue administrations whose grasp on coherency, let alone math, history, economics or even Afghan geography is questionable at best.

Biden’s Response

And what does Biden (or his “advisors”) have to say about the recent and scary numbers within a gutted and “locked-out” educational labor force?

Well, you’ll have to see it to believe it..

Really? Really? Really?

That’s right folks.

The President of the United States, home to the world’s reserve currency and former beacon of global freedom, is telling Americans not to worry about the slow death of genuinely informed dissent (as well as educational access and jobs) or the attempted popularizing of otherwise tyrannical mandates, but to focus instead on the vaccine rates at United Airlines?

Yes. Really.

The leader of the free world is boastfully telling us that the “bigger story” is a fully vaccinated United Airlines (who were forced to choose between a jab or job), so why worry about the problems in that silly ol’ educational sector or outdated Bill of Rights?

Playing with Minnows While Ignoring Whales

Where ever one stands on the understandably divisive vaccine issue, how can anyone compare a private airline’s vaccine rate to a national education, civil liberty and employment crisis?

Why are politicians, Davos dragons, statisticians, media bobble-heads and central bankers focusing our/your attention more on a virus with a case fatality rate of less than 0.5% than they are on openly addressing whale-sized issues like unsustainable debt, rising inflation, embarrassing labor inequality, a dying currency or even more declining GDP?

Deliberate and Desperate Distraction as Policy

Well, history tells us why.

As anyone not banned from a classroom knows, the history of desperate leaders seeking to distract, censor and control the masses in times of a self-inflicted and debt-induced cycle of internal economic rot is long and distinguished.

As Biden doubles down on the bad (yet deliberately distracting) hand of what was hoped to be an optically humanitarian policy of vaccine mandates, the masses are getting restless as well as fired…

Solution?

Criminalize the non-consenting as anti-vaccine, anti-science or anti-American “flat-earthers” while denying open discussion on such otherwise relevant topics as basic math, constitutional law, calm science or individual rights…

Meanwhile, those who won’t tow Biden’s increasingly incoherent mandate (or Don Lemmon’s always coherent ignorance) are losing jobs and/or forced to prioritize (in a Jeffersonian way) individual liberty over financial security.

Ben Franklin, of course, said those who surrender liberties for security deserve neither.

In such a polarized backdrop, everyone, pro or anti-vaccine, loses.

Informed, open and calm debate has been replaced by a contradictory, censored, sanctimonious and hysterical autocracy from prompt-readers to political puppets.

So much for leading the free world… Let me remind Biden to consider the words of another founding father, Thomas Paine:

“I have always strenuously supported the right of every man to his own opinion, however different that opinion might be to mine. He who denies to another this right, makes a slave of himself to his present opinion, because he precludes himself the right of changing it.”

As someone who studied and practiced constitutional law, worked within a rigged Wall Street and read nearly every book I could find on America’s founding fathers, I can say without hyperbole that I no longer recognize the country (or values) of my birth nation.

As Franklin also noted, “All democracies eventually die; usually by suicide.”

Hmmm.

But let’s get off my high-horse and back to those job reports…

Conviction vs. Employment

As Bloomberg recently noted, the result of these “pandemic-related staffing fluctuations” is a bit alarming.

The following critical industries are witnessing the following job-loss percentages: Nursing and Residential Care (-1.26%); Local Government Education (-1.83%); Community Care for the Elderly (-2.20%) and lodging (-2.25%).

But thank goodness that despite a deliberate weaning of nurses, teachers and elderly care experts, United Airlines is nearly fully vaccinated and our Motion Picture Industry (universally known for its astounding political and financial wisdom) is seeing a +4.21% job increase.

Awe, but as Johny Mellencamp would say, “Aint that America?”

Now instead of more employed and free-thinking nurses, teachers and students allowed to gather, speak and think freely at their own campus or clinic, we can be glad that jobs in Hollywood, like DC, are growing to keep us living on more fantasy rather than actual, informed and hard-earned knowledge.

Oh, and the Economy…

But rather than just rant otherwise rhetorical sarcasm, let’s get back to those other barbaric (and soon-to-be empty) old-school disciplines like economics…

Biden’s mandates are more than just evidence of distraction as policy and constitutional interpretation/usurpation, they have direct impacts on our financial lives outside of the deliberately exaggerated vaccine debacle/debate.

Let’s go down the list of what economics taught us years ago, when we were allowed to enter a classroom:

  1. Stagflation Ahead.

As more and more folks are locked out of work, the entitlement costs for these “un-American” free-thinkers will rise, placing greater inflationary pressures upon a deliberately constrained rather than open economy.

Rising inflation + slowing economic activity = stagflation.

Prepare for this, as that’s what’s coming.

Inflation, by the way, is an invisible tax on those who can afford it the least. Thanks again Powell et al for shafting the middle class…

  1. A Divided States of America

A country which once revered open rather than censored debate, investigative rather than complicit journalism, and respected rather than polarized differences of opinion, is becoming increasingly factionalized, divided and angry.

Jab or no jab, I fully respect both views. Can’t we all do the same without a “mandate”?

Like Thomas Paine, I hope so, because as Thomas Jefferson warned, we face far greater economic and political threats ahead than COVID.

Rather than accountability, transparency and cooperation, leadership today is defined by fantasy and magic, from magical money created at the Fed to magical employment and CPI data downplayed at the BLS.

Such left or right fantasy-as-policy is as old as history—it’s darker side, that is. Just ask Lenin, Castro, Nixon or Greenspan.

Whenever backed into a debt corner of their own design, leaders employ a familiar combo of boogeyman and salvation narratives to divert the masses away from the slow-drip erosion of their personal liberties, dying currencies and debt-driven stagnation.

This distraction-as-policy is happening right now. The rise of the COVID narrative in 2020 is more than a coincidence. It’s a conveniently exploited opportunity for political and financial opportunists.

  1. More Centralized Controls and Fake Markets

With debt levels far beyond the Pale of productivity levels (i.e., embarrassing debt to GDP ratios), the U.S. and other developed economies are mathematically and factually unable to ever grow their way out of the debt hole they have been digging us into for years.

Period. Full stop.

If I know this, and if you know this, well…they certainly know this too in DC.

The only difference is that these policy makers, like most kids caught with a hand in the cookie jar, are incapable of admitting fault.

Instead, today’s “leadership” can blame their economic and policy failures (and self-preservation rather than “service” instincts) on something else—i.e., “COVID did it.”

But as we’ve voiced elsewhere, the debt time bomb, growth declines, social unrest, wealth disparity and failing political credibilities in play today were already a major problem BEFORE COVID.

Now, as then, the empirical data objectively confirms that tanking manufacturing data, jobs growth, economic productivity, broken supply chains, scary transport numbers and political mistrust can never service the over $28.5T in public debt sitting on Uncle Sam’s bar-tab.

As a natural result, we can therefore expect far more “accommodation” (i.e., monetary expansion) from the Fed, and far more “Fiscal Stimulus” (i.e., deficit spending) from our comical legislature ahead.

Stated otherwise: Get ready for more real debt, fake money, centralized controls and hidden wealth destruction.

Zombie Stocks, Bonds and Bankers: Too Big to Fail 2.0

Sadly, one of the only forms of income which Uncle Sam enjoys today is the capital gains receipts from a bloated, rigged and artificially Fed-supported stock market.

This means we can anticipate more “stimulus” for a zombie, crack-up-boomed market well past its natural expiration date.

The same is true of for government IOU’s.  No one wants our bonds. 2020 saw $500B in foreign outflows rather than inflows for US Treasuries.

So, who will pay Uncle Sam’s bar tab now?

Easy:  Uncle Fed at the Eccles Building down the avenue from a Treasury Department now led by a former Fed Chairwoman.

One really can’t make this crazy up. It’s all that real, that rigged and that true.

The U.S. debt crisis is now being “solved” by a circular loop of a Wall Street and a White House children tossing their hot potatoes of bad debt (MBS and sovereign) around until they are bought with money created out of thin air by the Fed.

And yet despite such insider support, rigged markets and “accommodated” securities, even the rising tax receipts from these bloated markets are not enough to cover the interest expense on Uncle Sam’s bar tab.

In short, US Treasury bonds and stocks are openly supported Frankenstein-assets kept alive by a central bank and White House cabal (sorry, Mr. Jefferson…) who blame every problem (and justify every expenditure) on a virus rather than confess to the cancerous reality of over 20+ years of their open and obvious mismanagement of a rigged banking and distorted financial system.

But rather than account for such sins, we can expect a bigger bail-out rather than an honest confession…

In 2008, for example, the response from DC and NYC to bankers gone mad was to declare bankrupt banks as “Too Big to Fail.”

Fast-forward some 13 years later and that same toxic duo of bankers and politicos have now effectively telegraphed that bankrupt government bonds and private stocks are also “too big to fail.”

That ought to anger an informed population. But instead, we are fighting about masks, vaccine shaming and Prince Harry’s sensitive upbringing.

So far, the distraction-as-policy technique seems to be working in favor of the foxes guarding our financial henhouse.

Signal More Currency-Debasing “Miracle Solutions”

Which brings us right back to a harsh but increasingly undeniable yet ironic reality.

If objectively broken bonds, stocks and financial regimes are too big to fail, then the only way to “save” them is with more mouse-click-created currencies which are too debased to succeed.

As precious metal and other long-term, real-asset investors long ago understood, currency expansion is just another name for currency debasement.

In other words, eventually, all that “system saving” new money simply drowns the system it was allegedly designed to save in ever more debased dollars.

Again, it’s just that tragic and just that simple.

Yes: More monetary and debt expansion can buy time and rising markets.

But those markets are measured in currencies which time has equally taught us lose their value with each passing second.

And the only ones paying for that time are you and I–with dollars, euros, yen and pesos whose purchasing power and inherent value are tanking faster than the credibility of the folks who brought us to this historical and debt-driven turning point.

Stated bluntly: The financial and political leadership of the last 20+ years has placed the global financial system into a debt corner for which there is no exit other than deliberate inflation (and hence currency debasement).

This foreseeable disaster, however, is now conveniently blamed on a current pandemic rather than a grotesque history of equally grotesque mismanagement by policy markets who have confused debt with prosperity and double-speak with accountability.

Wouldn’t it be nice if such economic topics were making at least as many headlines as the latest infection rates?

Meanwhile, the mainstream media pursues plays chess with context-empty headlines, bogus job data and ignored debt bombs as our economic Rome (and currencies) burns silently around us all.

Tyler Durden Sat, 10/16/2021 - 10:30

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Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid ‘Green Pass’ Takes Effect

Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid ‘Green Pass’ Takes Effect

Following Israel across the Mediterranean being the first country in the world to implement an internal Covid passport allowing only vaccinated citize

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Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid 'Green Pass' Takes Effect

Following Israel across the Mediterranean being the first country in the world to implement an internal Covid passport allowing only vaccinated citizens to engage in all public activity, Italy on Friday implemented its own 'Green Pass' in the strictest and first such move for Europe

The fully mandatory for every Italian citizen health pass "allows" entry into work spaces or activities like going to restaurants and bars, based on one of the following three conditions that must be met: 

  • proof of at least one dose of Covid-19 vaccine

  • or proof of recent recovery from an infection

  • or a negative test within the past 48 hours

Via AFP

It's already being recognized in multiple media reports as among "the world's strictest anti-COVID measures" for workers. First approved by Italian Prime Minister Mario Draghi's cabinet a month ago, it has now become mandatory on Oct.15.

Protests have been quick to pop up across various parts of the country, particularly as workers who don't comply can be fined 1,500 euros ($1,760); and alternately workers can be forced to take unpaid leave for refusing the jab. CNN notes that it triggered "protests at key ports and fears of disruption" on Friday, detailing further:

The largest demonstrations were at the major northeastern port of Trieste, where labor groups had threatened to block operations and around 6,000 protesters, some chanting and carrying flares, gathered outside the gates.

    Around 40% of Trieste's port workers are not vaccinated, said Stefano Puzzer, a local trade union official, a far higher proportion than in the general Italian population.

    Workers at the large port of Trieste have effectively blocked access to the key transport hub...

    As The Hill notes, anyone wishing to travel to Italy anytime soon will have to obtain the green pass: "The pass is already required in Italy for both tourists and nationals to enter museums, theatres, gyms and indoor restaurants, as well as to board trains, buses and domestic flights."

    The prime minister had earlier promoted the pass as a way to ensure no more lockdowns in already hard hit Italy, which has had an estimated 130,000 Covid-related deaths since the start of the pandemic.

    Meanwhile, the requirement of what's essentially a domestic Covid passport is practically catching on in other parts of Europe as well, with it already being required to enter certain hospitality settings in German and Greece, for example. Some towns in Germany have reportedly begun requiring vaccination proof just to enter stores. So likely the Italy model will soon be enacted in Western Europe as well.

    Tyler Durden Sat, 10/16/2021 - 07:35

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