41.7 F
Chicago
Sunday, April 27, 2025
Home Blog Page 2554

Italy Hit With Widespread Internet Outage After “International Interconnection Problem”

0
Italy Hit With Widespread Internet Outage After “International Interconnection Problem”

Update (1150ET):

Reuters confirmed “internet outages and glitches” across Italy on Sunday. The problem appears to be an “international link.”  

“An international interconnection problem impacting the service at the national level was detected. Analyses are underway to resolve the problem,” a Telecom Italia (TIM) spokesperson said.

Italy’s ANSA News agency reported there are no signs yet that hackers were responsible for the widespread outage. 

*   *   *

Network data from NetBlocks shows widespread disruption to internet service across Italy on Sunday. It’s been reported that the telecommunications blackout might stem from leading operator Telecom Italia.

NetBlocks’ real-time network data shows that national connectivity plunged from around 100% to 26% this morning. 

Another internet disruption tracking website shows a heatmap of the outages that appear to be nationwide. 

Tyler Durden
Sun, 02/05/2023 – 11:50

Ford Sold Almost All Of Its Stake In Rivian Last Year

0
Ford Sold Almost All Of Its Stake In Rivian Last Year

If you were wondering whether or not Ford was going to embrace Rivian further as part of its plans to take on the EV market, it looks as though the answer is a resounding “no”.

That’s because Ford sold almost all of its stake in EV company Rivian last year, according to the company’s newly-released annual report submitted to the Securities and Exchange Commission on Friday.

Ford offloaded a total of 91 million shares of Rivian in 2022, according to CNBC. This amounts to about $3 billion in total proceeds, representing about a $1.8 billion gain from the original $1.2 billion investment the company made in the competitor. 

The company sold 25.2 million shares in Q2 for about $700 million in proceeds. It then sold another 51.9 million shares during Q3 for proceeds of about $1.8 billion, the annual report confirms. 

At the end of last year, the legacy Detroit automaker held only about 11 million of its initial 101.9 million share stake in the company. Ford “declined to comment on plans for the remaining shares”, CNBC reported. 

The company first invested in Rivian back in 2019 before the company went public. Plans to use Rivian’s “skateboard” platform that now underpins Rivian’s R1T pickup and R1S SUV in the production of Ford vehicles never panned out. 

Despite the sales, Ford still remains one of the largest shareholders in Rivian.

Recall, just days ago we wrote that Morgan Stanley had expected more “EV deflation” after Ford’s recent price cuts on its electric Mach-E. 

In a note out last Tuesday, Morgan Stanley wrote: “In our opinion, cutting price on Mach-E is relatively minor (approx. $100mm on price/mix prior to volume offsets). The more significant question for Ford and other Tesla challengers is what are they doing on the cost side to create enough room to follow Tesla’s current and future price cuts without compressing margins.”

The Mustang Mach-E GT Extended Range has seen its price fall to $64,000 from $69,900 before, according to CNN Business. The price of the standard Mach-E model has moved from $46,900 down to $46,000, the same report says. The move comes after Tesla lowered prices as much as 20% on many of its models to start 2023. 

We expect to see a flurry of subsequent price cuts across EV competition throughout the year from startups and legacy players. In a year defined by slower growth, rising rates and consumer austerity we believe manufacturing and design innovation will separate EV winners from the pack,” the note concluded.

Tyler Durden
Sun, 02/05/2023 – 11:30

Seven Points On Investing In Treacherous Waters

0
Seven Points On Investing In Treacherous Waters

Authored by Charles Hugh Smith via OfTwoMinds blog,

What’s truly valuable has no price and cannot be bought.

If all investments are being cast into Treacherous Waters, our investment strategy must adapt accordingly. Once we set aside denial and magical thinking as strategies and accept that we’re in treacherous waters, a prudent starting point is to discern the most consequential contexts of all decisions about where and how we invest our time, energy and capital.

The most consequential global context is to first and foremost “invest in yourself”: invest in forms of capital that cannot lose value (for example, integrity, skills and experience) and assets that are not dependent on fluctuations in valuations for their utility. This is the essence of Self-Reliance.

For example, tools retain their utility regardless of their current market value, and so does a house as shelter and yard to grow food. Whether the value drops to $1,000 or soars to $1 million, the property provides the same utility of shelter and sustenance.

In other words, the mindset of speculation–buy low and sell high to accumulate as much money as possible–is not the only context to consider.

A second global context is that speculative winners–assets that rise sharply in value–will increasingly be targets for “windfall” and/or wealth taxes, as well as capital controls, such as limits on selling. If you log a 500% gain, then paying a wealth tax is a small price to pay for such a handsome gain. But such enormous gains will very likely be far more scarce going forward as speculative bets become net drains on capital and speculators exit because their gambling chips are gone or they realize they better conserve what capital is still left.

Meanwhile, back on the Government Ranch, the crying need for more tax revenues will become increasingly dire. As speculative bubbles pop, capital gains will dry up and blow away, and this rich source of tax revenues will have to be replaced with higher taxes and junk fees on whatever income and assets are available for “revenue enhancement,” ahem.

A “special assessment” tax on those worth $100 million or more will be approved first. The bar will then be lowered to $10 million, and then $1 million, which will of course include all assets, the family home, 401Ks, pension plans, small businesses, etc., and any assets held overseas. Civil penalties for stashing assets in dodgy offshore tax havens will of course increase concurrently. Purchases of cryptos and precious metals will be closely monitored / scrutinized.

Yes, the billionaires and corporations will remain untouchable due to their heavy buying of influence on the Political Action Auction ™, but the plump medium-sized fish who can’t swing millions in political contributions and legal fees will be inviting targets.

This generalized increase in taxes and junk fees on the wealthy and high consumption households will favor those who figure out how to live well on less income and fewer high-value assets.

A third global context is that simple bets on sectors may not provide the easy, stable returns that characterized the past 40 years. Those who rotated into “hot sectors” and cashed out when everyone else jumped in did very well.

This mindset is still ubiquitous. Many are calling for a commodity super-cycle that will deliver reliable gains to anyone investing in energy/commodities for years or decades to come. Others are flooding back into Big Tech or emerging markets.

Such simple trend-following sector bets will not work as reliably going forward, for several reasons. One is that artificial scarcities tend to be followed by gluts that crush valuations.

Another is the emergence of asymmetries within sectors. In other words, a rising tide will no longer not raise all boats.

Per a quote from Nassim Taleb: “Finance has three simple rules: maintain a clear mind, figure out asymmetries, never talk to idiots.”

What are asymmetries? In shorthand, “winners take most.” Put another way, the winners in each sector may garner the majority of the gains within the sector, as the winners have figured out a strategy to navigate treacherous waters.

Those pursuing old strategies will either lose or reap meagre gains.

The most successful investors / speculators will dig into companies, looking for asymmetries in financial assets, expertise, management, etc.–the traditional tools of stock pickers.

Buying index funds and ETFs to ride the tide higher will mean losing as the speculative tide ebbs.

A fourth context is that speculations in assets with no real-world utility such as NFTs have run their course and the gains will flow to companies producing real-world goods/services with essential utility.

This may be seen as part of the global trend of re-industrialization / reshoring / friendshoring.

A fifth global context is that one tool to discern productive asymmetries is to ponder what the wealthy value. The wealthy have the means to buy the most experienced advice and the incentive to protect capital, so what they pursue is worthy of consideration. This doesn’t mean they will always be right, it simply means that just as keeping an eye on the herd is useful, so too is keeping an eye on the “some are more equal than others” group.

Real estate and housing is one example. The global housing bubble is finally popping, and house valuations have a long way to drop to reach historic trendlines.

That said, enclaves with all the attributes valued by the wealthy–safety, good schools and healthcare, local sources of energy and food, attractive natural settings and distance from decaying urban cores–will drop less, or could even retain their value due to the relative scarcity of places that meet these high standards.

A sixth global context is the value of maintaining a low profile that doesn’t telegraph your wealth, what’s known as the “gray person” strategy: blend in with neighbors, drive average-looking vehicles, avoid any ostentation. Blend into the background so no one will look at you twice.

A seventh global context is to invest in trusted personal networks, producing essentials others will value and your community of family, friends, neighbors, small enterprises and other local connections. These have value that cannot be assessed with a market price. As I’ve said many times, what’s truly valuable has no price and cannot be bought.

Or as I’ve put it previously: “In a world besotted with the artifice of consumerism, what matters is not what can be commodified and bought but what can’t be commodified and bought.”

My Mobile Creative credo also speaks to this: trust your network, not the corporation or the state.

Trust and integrity are high on the list of what cannot be bought, and these are assets we should all leverage as the waters become increasingly treacherous.

*  *  *

This essay was first published as a weekly Musings Report sent exclusively to subscribers and patrons at the $5/month ($50/year) and higher level. Thank you, patrons and subscribers, for supporting my work and free website.

My new book is now available at a 10% discount ($8.95 ebook, $18 print): Self-Reliance in the 21st Century. Read the first chapter for free (PDF)

Become a $1/month patron of my work via patreon.com.

Tyler Durden
Sun, 02/05/2023 – 11:00

What Recession: Starbucks Had 8 Of Its 10 Highest Sales Days In History Last Quarter

0
What Recession: Starbucks Had 8 Of Its 10 Highest Sales Days In History Last Quarter

By Jonathan Maze of Restaurant Business

If the economy is really heading for a recession, Starbucks customers sure aren’t acting like it.

The Seattle-based coffee chain on Thursday said its same-store sales rose 10% in the U.S. Customers came in more often, as transactions rose 1%. But average check increased 9%, thanks to a combination of higher prices and customers ordering more food and customized beverages.

The company had eight of its 10 highest sales days in its history in the U.S. last quarter.

“At a time when people are generally trading down, and there’s a lot of discounting going on, we had the highest average ticket in our history in the month of December,” Interim CEO Howard Schultz told investors on Thursday. “We don’t see ourselves in a situation where we need to discount heavily, and we don’t see a situation where our customers are trading down.”

Starbucks’ sales came from a variety of sources. Higher prices certainly helped. But customers also ordered more food along with their beverages. The chain generated record sales of breakfast sandwiches and its Sous Vide Egg Bites.

But beverage sales increased 13% during the quarter as customers continued to order more customized beverages, which generate incremental sales through add-ons. Customized beverage sales rose 28% in the period.

Much of this is being driven by repeat customers who join the company’s loyalty program. The number of Starbucks Rewards members topped 30 million in the quarter, up by 4 million over the past year. And those members accounted for 56% of spending at the chain’s corporate locations.

Mobile order and pay, meanwhile, now account for 27% of transactions at corporate locations. Overall, 72% of Starbucks’ revenue came from mobile orders, drive-thrus and delivery.

Gift cards likewise continued to push sales. Customers loaded $3.3 billion onto Starbucks cards in the U.S. last quarter, a record for the company. “Our gifting business was so strong that unit sales of Starbucks cards were greater than the next four brands of gift cards combined,” CMO Brady Brewer said.

It’s not just corporate locations. Revenue from licensed locations in places like hospitals, retail shops and airports increased more than 30% in the quarter, due in part to increased travel. Those stores are now generating 140% of their pre-pandemic sales. The coffee chain recently introduced Starbucks Connect, enabling mobile orders at licensed locations. That’s generating “highly incremental” sales at the company. “We see great upside for it,” Schultz said.

Starbucks’ performance in the U.S. helped drive revenue at the coffee chain higher. Revenues rose 8% to $8.7 billion in the company’s fiscal first quarter ended Jan. 1. Global comparable store sales rose 5%. The company said it performed well in every market outside of China—where same-store sales plunged 29% in the quarter and 42% in December. The issues in China, which were related to COVID shutdowns, weighed on the company’s stock, which declined more than 2% in after-hours trading.

Starbucks’ success in the U.S., however, helped strained relations with employees, leading to $450 million in store upgrades, particularly with equipment.

Schultz said teams continue to work on the company’s “reinvention,” with turnover improving 5% over the past year and 8% compared with the highest turnover period. “Improved turnover correlates to more stable store environments, elimination of hire-related costs, particularly training, and measurable improvements in productivity, speed of service and [employee] customer experience scores.”

Tyler Durden
Sun, 02/05/2023 – 09:50

Italy Hit With Nationwide Internet Outage, Reports Say

0
Italy Hit With Nationwide Internet Outage, Reports Say

Network data from NetBlocks shows widespread disruption to internet service across Italy on Sunday. It’s been reported that the telecommunications blackout might stem from leading operator Telecom Italia.

NetBlocks’ real-time network data shows that national connectivity plunged from around 100% to 26% this morning. 

 

Another internet disruption tracking website shows a heatmap of the outages that appear to be nationwide. 

*Developing 

Tyler Durden
Sun, 02/05/2023 – 09:13

FedEx Cargo Jet Narrowly Averts Collision With Southwest Plane At Texas Airport

0
FedEx Cargo Jet Narrowly Averts Collision With Southwest Plane At Texas Airport

A FedEx cargo jet averted crashing into a Southwest Airlines commercial plane while attempting to land at Austin-Bergstrom International Airport in Texas. 

The FedEx jet, a Boeing 767, was cleared to land on the same runway early Saturday morning when a Southwest jet, a 737, was cleared to takeoff.  

According to the flight tracking website Flightradar24, the FedEx jet pulled up with full thrust at the very last second to prevent what could’ve been a devastating air disaster. 

“The pilot of the FedEx airplane discontinued the landing and initiated a climb out,” the Federal Aviation Administration (FAA) said in a statement.

Later in the day, the National Transportation Safety Board (NTSB) tweeted, “NTSB is investigating a surface event at Austin-Bergstrom International Airport Saturday, a possible runway incursion and overflight involving airplanes from Southwest Airlines and FedEx.” 

The FAA and NTSB said they are investigating the incident. 

Tyler Durden
Sun, 02/05/2023 – 08:45

EU Agrees To $100 Russian Diesel Price Cap

0
EU Agrees To $100 Russian Diesel Price Cap

By Julianne Geiger of OilPrice.com,

EU members have agreed to support a price cap level of $100 per barrel on Russian diesel sales to third-party countries, people familiar with the matter told Bloomberg on Friday afternoon.

The EU’s ban on Russian seaborne crude oil products imports, including diesel and naphtha, is scheduled to go into effect on February 5. The EU’s proposal, submitted last week, called for capping the price of Russian diesel sold to third countries at $100 per barrel for products that trade at a premium and $45 for those that sell at a discount. Similarly to the price cap on Russian crude, buyers outside the EU would continue to have access to Western insurance and financing for cargoes if they comply with the price cap.

The proposal also included setting a price cap of $45 per barrel for discounted products such as fuel oil, which sources suggest has also been approved.  

The goal of the price caps is to limit Russia’s revenues derived from crude oil and its refined products, while keeping the market supplied with Russian energy.

Despite the ban and price cap mechanism that are set to go into effect on Sunday, Russia’s energy minister said he saw no reason to reduce the country’s output on petroleum products, nor was it considering a reschedule for its refinery maintenance to make use of possible reduction in Russian demand.

Although the price cap goes into effect on Sunday, there is a grace period for cargoes loaded before the cap was agreed to that runs until April. Russian diesel prices were about $90 earlier this week, below the cap. Wood MacKenzie said earlier this week that a $100 cap would not have a significant effect on Russian refiners, but could bring its diesel exports down about 200,000 bpd.

Tyler Durden
Sun, 02/05/2023 – 08:10

UK’s “Nudge Unit” Pushes Various Online PsyOps When People Shop To Build “Net Zero Society”

0
UK’s “Nudge Unit” Pushes Various Online PsyOps When People Shop To Build “Net Zero Society”

Authored by Didi Rankovic via ReclaimTheNet.org,

The Behavioural Insights Team (BIT) – started by the UK government to then in late 2021 become owned by Nesta, which describes itself as an independent charity focused on innovation – has a new report out.

And while its authors present it as a useful “guide” toward building “a net zero society,” what observers critical of this content have taken away from it is that it is promoting, and detailing, various forms of psychological manipulation of people.

The problem that Behavioural Insights Team (aka, “Nudge Unit”) has found for itself to solve is a part of the climate change narrative, where achieving “net zero” means doing away with greenhouse gas emissions.

And they don’t seem to care if the way to get there is through direct manipulation of people, specifically online, via prompts (“nudges”) toward making choices that are not really theirs but serve the agenda.

These choices concern and consume people’s everyday lives: what they wear, what and how much they eat, how they travel to work, whether that job is “climate-friendly,” how they travel just in general and where to, for example, for a vacation.

These are all examples of what the report aims to affect from the behavioral perspective, and clearly, the “solution” is to actively push citizens toward “social transformation.”

In this sense, the report recommends putting prompts in apps that would seek to direct the user to order less takeaway food through what critics might call “reality transformation” – one suggestion is changing the name of small portions to “regular portions.”

At one point, the report mentions BIT case study 4, which deals with “exploring” the role of social media influencers as vehicles to promote “green behaviors.”

BIT case study 12, meanwhile, is about “Helping Solent Transport deliver an effective ‘Mobility as a Service’ app.” Solent Transport is a partnership with local transport authorities, while the main idea here is “encouraging people out of cars” and “nudging” them toward other means of transportation.

BIT case study 15 is one about “encouraging” customers to order smaller portions on takeaway platforms.

Several suggestions are made to make “sustainable food easy,” including utilizing the fact that online shopping “gives many opportunities to provide timely substitution prompts, or encourage personalized goals and tips linked to product filters and ranking.”

BIT says that in producing these case studies of interventions, it partnered with “HMG, the French government, UAE’s Crown Prince Court, World Wildlife Forum, Unilever, Tesco, Sky, Gumtree, and Cogo,” among others.

*  *  *

If you’re tired of censorship, cancel culture, and the erosion of civil liberties subscribe to Reclaim The Net.

Tyler Durden
Sun, 02/05/2023 – 07:35

Everything You Need To Know About The Lab Leak (But Were Not Allowed To Ask)

0
Everything You Need To Know About The Lab Leak (But Were Not Allowed To Ask)

Authored by Pat Fidopiastis via The Brownstone Institute,

Between 2014 and 2019, US tax dollars were funneled to the Wuhan Institute of Virology via EcoHealth Alliance. Given that US scientists have far more virology expertise than the Chinese, this begs an obvious question: what type of research were US tax dollars paying for in Wuhan, China? Dr. Fauci’s surprising statement in an interview might provide the short answer to this question: “You don’t want to go to Hoboken, NJ or Fairfax, VA to be studying the bat-human interface that might lead to an outbreak, so you go to China.” 

Given what we’ve endured for the past three years, Fauci’s “so you go to China” comment suggests that he hadn’t considered the global implications of a highly transmissible coronavirus leaking from a Chinese lab plagued by serious safety issues. 

Unwilling to admit that he, EcoHealth Alliance, and their Chinese collaborators, are suspects in one of the largest crimes against humanity, Fauci instead opted to conspire with his boss, Francis Collins, to declare “lab leak” a “destructive conspiracy” that must be “put down.” Sadly, it’s clear that from the beginning, these two distinguished scientists made up their minds about virus origin without evidence from both sides of the debate. 

Even worse, renowned scientists that rely on Fauci for their research funding, fearful of sanctions being placed on their life’s work, rallied around the “anti-lab leak” stance. One of the premier scientific journals, Science, whose political bias has become very apparent, attempted to provide legitimacy to Fauci’s position by publishing a paper by authors that claimed “dispositive evidence” that SARS-CoV-2 emerged from an animal at the Wuhan market. This paper allegedly “crushed” the lab-leak hypothesis, despite leaving much room for debate. 

The good news is that Big Tech, scientific journals, and most media sources were forced to stop censoring countervailing evidence as it reached critical mass and began spilling over into the public domain. Far from being a “conspiracy,” there is a lot of evidence that strongly suggests SARS-CoV-2 is an engineered virus that spread from a Wuhan virology lab. Before getting into the evidence that SARS-CoV-2 was engineered and leaked from a lab, let’s start a debate around the “dispositive evidence” that SARS-CoV-2 is natural and emerged from the Wuhan market. 

The “market origin hypothesis” is based on four debatable premises  

The entirety of the “dispositive evidence” for market origin cited by Dr. Fauci and others can be summed up as follows: 1) “Early” cases allegedly lived near the market, 2) “early” SARS-CoV-2 lineages were allegedly associated with the market, 3) wild animals susceptible to COVID-19 were sold at the market, and 4) positive SARS-CoV-2 samples were found in the environment around the market and were allegedly “linked to human cases.” For many reasons, some of which are discussed here, none of this evidence is anywhere near “dispositive.” This is why reviewers forced the authors to remove the phrase “dispositive evidence” as a requirement for publication.   

Did “early cases” really live near the market?

The Science paper relied on a joint World Health Organization (WHO)-China report to define “early cases” as those that occurred in December 2019. However, the joint WHO-China report also states: “Based on molecular sequence data, the results suggested that the outbreak may have started sometime in the months before the middle of December 2019.” 

This statement seems more in line with other evidence that the pandemic started earlier than December 2019. Urgent communications from the highest levels of the Chinese government circulating at the Wuhan Institute of Virology in November 2019 reported a “complex and grave situation” at the lab. Was this “grave situation” the start of a SARS-CoV-2 “lab leak” unfolding in real -time, weeks before the rest of the world was made aware of the imminent pandemic? 

There were also multiple reports from Chinese media and even the venerable Lancet that documented initial cases started before December 2019, as well as lab-based evidence of international spread as early as November 2019. Furthermore, shouldn’t we be alarmed that a group led by Chinese military scientists applied for a COVID-19 vaccine patent in February 2020? 

If the first COVID-19 cases really were in December 2019, this means that inexperienced Chinese military researchers somehow managed to produce a COVID-19 vaccine based on traditional, less efficient methodology, in a little over a month. For comparison, it took vaccine giant Pfizer about 9 months to produce their vaccine based on more efficient mRNA methodology. Accurately pinpointing the true start date of the pandemic would allow us to assess how meaningful the “early cases” data are. If countervailing evidence is correct and cases that preceded December 2019 were missed or ignored, then a dataset beginning in December would most likely lead to flawed conclusions about pandemic origin.

Were “early virus lineages” really associated with the market?

In perhaps the clearest evidence of a crime scene coverup, Chinese scientists quietly removed from public databases at least 13 genome sequences representing the earliest SARS-CoV-2 strains. There is no legitimate reason for doing that. Fortunately, the files had been backed up before they were removed, allowing Dr. Jesse Bloom to be the first to retrieve them from Google Cloud and analyze them. 

This is proof that the Science paper many claimed to have “crushed” the lab leak was unlikely to be fully representative of the viruses spreading at the start of the pandemic. Adding to the intrigue, one of the authors of the Science paper attempted to intimidate Dr. Bloom so he would not publish his findings. If the evidence for a natural origin of SARS-CoV-2 is so “dispositive,” why would anyone feel the need to censor an expert like Dr. Bloom? 

Animals susceptible to COVID-19 were sold at the market but none tested positive.

Some of the animals trafficked at the market had been experimentally infected with SARS-CoV-2 in labs or deemed theoretically susceptible based on the presence of compatible receptors. However, the WHO-China Report revealed that none of the 457 samples taken from 188 animals at the market tested positive for SARS-CoV-2. A criticism of these negative results is that the market was “under-sampled.” The SARS-CoV-1 pandemic of 2003-2004 spread around the world causing about 8,000 documented infections, resulting in about 800 deaths. Chinese scientists mobilized immediately and within a few months discovered an identical virus that naturally occurs in palm civet cats that were sold in Chinese markets.  

Yet here we are, three years later, thousands of additional animals have been sampled, millions of genomic sequences analyzed, and nothing close to SARS-CoV-2 has yet to be detected in nature. Why is that?

Positive environmental samples found at the market were taken too late to infer virus origin

SARS-CoV-2-positive environmental samples were detected at the market. However, the samples were taken between January and March 2020. By January, the virus had likely been spreading in Wuhan for more than a month, and had already spread internationally, so how much can we deduce from these samples taken from the heavily trafficked market, weeks after the pandemic started? In fact, those responsible for collecting the samples concluded, “Tthe market might have acted as an amplifier due to the high number of visitors every day.”

In other words, infected people most likely entered the crowded market and spread the virus. It’s notable that many of the positive samples came from vendor stalls in which “aquatic products,” seafood, and vegetables were sold. None of these products could be a natural reservoir for SARS-CoV-2. In fact, the WHO-China report concludes that many of the environmental samples reflect “contamination from cases” (i.e., infected people) given how widely distributed the virus was by then. 

The following is a review of some of the lab-based and circumstantial evidence supporting “lab leak.” Hopefully, this analysis will lay the foundation for honest, thoughtful discussion, leading to a true understanding of the origin of SARS-CoV-2. If we can’t have honesty, how will we ever minimize the chances of this happening again?

Early strains of SARS-CoV-2 were unnaturally human adapted

The “natural origin” hypothesis contends that SARS-CoV-2 spilled over into humans from an animal in December 2019. A virus that so recently jumped to humans from an animal should not bind to human cells with higher affinity than the animal host it came from. However, at the beginning of the pandemic, Dr. Nikolai Petrovsky’s lab made the startling discovery that the earliest known strains of SARS-CoV-2 were unnaturally human-adapted. 

In fact, these strains showed highest affinity for human cell receptors over receptors from bats, pangolins, and about eleven other animals known to harbor coronaviruses. Dr. Petrovsky submitted this important research to a top journal, Nature, in August 2020. In an egregious example of censorship, Nature delayed publishing the paper until June 2021, corresponding to when Dr. Fauci finally admitted that a lab leak could have started the pandemic.

There was financial motivation and established methodology for creating pandemic viruses

A rejected 2018 grant proposal submitted to DARPA that includes EcoHealth Alliance and Wuhan Institute of Virology (WIV) collaborators gives us enough information to figure out the motivation and methodology that likely created SARS-CoV-2. The primary goal of the grant was to create a “complete inventory” of SARS-like coronaviruses taken from several bat caves in China. 

What follows is a streamlined version of the workflow proposed by the researchers: 1) add the spike proteins from these novel bat coronaviruses to a previously characterized SARS-like bat coronavirus core, and insert genetic modifications to spike proteins for enhanced infectivity if necessary, 2) infect “humanized” mice with these lab-made viruses, 3) flag chimeric viruses capable of infecting the mice as potential pandemic strains, and 4) prepare “spike” protein vaccines from these potential pandemic strains and use them to “immunize” bats in caves (Fig. 1). 

Fig. 1. Risky research methodology used by EcoHealth Alliance, WIV, and their collaborators to attempt to create bat vaccines. There’s no way of knowing in advance the pandemic potential of unnatural, chimeric SARS-like viruses created in this workflow.

The authors of the DARPA proposal discuss the importance of spike protein cleavage by human enzymes such as furin in the ability of coronaviruses to spread optimally and become pandemic strains. Notably, they proposed to insert “human-specific cleavage sites” (e.g., furin cleavage site, FCS) in spike proteins that lack the functional cleavage sites and then “evaluate growth potential” of the modified viruses in human cells. 

They further proposed to modify cleavage sites in highly abundant, low-risk SARS-like viruses taken from Chinese bat caves. These studies are precisely the type of work that could accidentally or intentionally create pandemic viruses. Although the proposal states that chimeric virus work would be done at the University of North Carolina, by Fauci’s own admission, “I can’t guarantee everything that’s going on in the Wuhan lab, we can’t do that.”  Furthermore, whenever a proposal this large (i.e., a $14 million request) is submitted, a great deal of the work will have already been done in advance to provide the “proof of concept” needed to sway reviewers. 

The unique furin cleavage site in SARS-CoV-2 is evidence of genetic engineering 

Many natural coronaviruses contain an FCS, so why is an FCS in SARS-CoV-2 so suspicious? The answer is that the genomes of thousands of coronaviruses from hundreds of different animals have been sequenced, and it’s clear that only distant relatives of SARS-CoV-2 have an FCS (see Fig 1ATable 1). 

The closest known sibling of SARS-CoV-2, a bat coronavirus named RaTG13, at best weakly infects human cells and lacks an FCS. SARS-CoV is another sibling of SARS-CoV-2, and like all the other known siblings, also lacks an FCS. Without an FCS, SARS-CoV-1 spread around the world in 2003-2004 but fizzled out after infecting about 8,000 people. A comparison of the short stretch of amino acids in the spike protein clearly reveals the missing FCS in these SARS-CoV-2 siblings (Fig. 2). 

Fig. 2. Comparison of partial spike protein amino acids showing the FCS of SARS-CoV-2 (i.e., “PRRAR”), and the lack of FCS in two of its siblings. Different letters represent unique amino acids. Identical amino acids in all three viruses are highlighted in yellow; dashed lines indicate the missing FCS. 

The unique genetic code of the SARS-CoV-2 furin cleavage site is evidence of genetic engineering

In coronaviruses, the blueprint for assembling proteins such as the surface spikes needed for infection lies in their RNA genome. The specific genomic sequence that encodes the short, all-important FCS within the SARS-CoV-2 spike is: CCU CGG CGG GCA CGU. Each three-letter bit of code (i.e., codon) dictates the specific amino acid to be used in building the FCS. Thus, CCU encodes “P” (for proline), CGG encodes “R” (for arginine), GCA encodes “A” (for alanine), and CGU also encodes “R.” 

As you can see, there is redundancy in the genetic code (e.g., there are six different codons that a virus can use to encode arginine). The odd feature of the SARS-CoV-2 FCS is the double CGG codons. In fact, CGG is one of the rarest codons in human coronaviruses, yet there just so happens to be two right next to each other in the FCS, one of the most important sequences in the entire 29,903 “letters” making up the SARS-CoV-2 genome. 

In fact, these are the only two CGG codons out of the 3,822 “letters” encoding the SARS-CoV-2 spike protein, and they are the only instance of a CGG-CGG doublet in any of the closest relatives of SARS-CoV-2. Notably, an arginine-rich FCS enhances the ability of coronaviruses to infect cells. At this point, it should not surprise anyone that CGG codons are the preferred code for genetic engineers who wish to produce an arginine-containing protein in human cells. It’s hard to deny that the CGG-CGG in the SARS-CoV-2 FCS is “smoking gun”-level evidence of genetic tampering.  

Suspicious cut sites in the SARS-CoV-2 genome are evidence of genetic engineering

One method to create chimeric viruses utilizes specialized genome-cutting enzymes called “Endonucleases.” Endonucleases can be used to cut virus genomes in specific places, then the pieces can be strategically recombined to create chimeric viruses. Cut sites are randomly distributed in the genomes of natural viruses, but they can be precisely inserted or removed by scientists to make chimeric viruses in a laboratory. BsmBI and BsaI are two examples of endonucleases that co-authors of the DARPA grant used in previous work to make chimeric coronaviruses. 

When present, the distribution of BsmBI and BsaI cut sites in viruses isolated from nature (e.g., SARS-CoV-1) are randomly distributed throughout the genome. Meanwhile, the distribution of cut sites in SARS-CoV-2 appear to be non-random and suggest genetic manipulation in a laboratory (Fig. 3). Curiously, a previous study involving EcoHealth Alliance described the insertion of two BsaI cut sites in a bat coronavirus called “WIV1” (i.e., Wuhan Institute of Virology 1), allowing scientists to make changes to the spike protein (see S9 Fig. Spike substitution strategy). 

Two BsaI cut sites can be found in the SARS-CoV-2 genome (Fig. 3) in the same location as BsaI cut sites engineered into WIV1 back in 2017. The astronomical odds of this being coincidence cannot be overstated. According to the authors, “BsaI or BsmBI sites were introduced into the [spike]. Then any spike could be substituted into the genome of [lab engineered WIV1] through this strategy.” The same strategy might have been used in the construction of what would become the SARS-CoV-2 genome.

Fig. 3. Distribution of BsmBI and BsaI cut sites in the genomes of the two pandemic SARS viruses. SARS-CoV-1 is a natural virus with cut sites that are randomly distributed, while distribution of cut sites in the SARS-CoV-2 genome appear to be non-random. The black bar represents the location of the spike gene; the FCS region is highlighted in red. BsaI can be used to cut out and replace most of the SARS-CoV-2 spike, including FCS, to alter virus infectivity.

Strong circumstantial evidence supports the lab- leak hypothesis

Three years into the current pandemic, with thousands of animals sampled and millions of genome sequences analyzed, nothing close to SARS-CoV-2 has been found in nature. In stark contrast to 2003-2004, China’s early response to COVID-19 was “disappearing” scientists and journalists, obfuscation, and deflecting blame for starting the pandemic away from themselves onto everything from the US Army to imported frozen fish. This is exactly the type of behavior you might expect from a guilty party.

No one (except maybe the dishonest Chinese government) has ever denied that the epicenter of the COVID-19 pandemic is Wuhan, China. But what are the odds that such an explosive outbreak originated at the Wuhan market? This is just one market out of about 40,000 markets scattered around China, and it happens to be a few miles away from a lab that in 2017 became the first high-security virology lab on the Chinese mainland. 

Here, a counterargument is that SARS-CoV-1 was a natural spillover from a market, so there’s precedence. But even the far less transmissible SARS-CoV-1, not long after being brought into the lab for study, eventually “leaked” with fatal consequences

The origin of SARS-CoV-2 is the most important question of the pandemic, with implications that extend exponentially beyond scoring political points. At the start of the pandemic, even the journal Nature was sounding the alarm about the increasing role China’s military has been playing in secretive biomedical research in China. Yet, three years later all we have is obfuscation from China and Fauci and nothing even close to a natural ancestor of SARS-CoV-2. Throughout the pandemic, people parroted empty phrases like “Follow the science” without really following the science.

So, let’s do that, let’s “Follow the science” (and the logic), because the genetic and circumstantial evidence for lab leak is impossible for any reasonable person to deny. 

* * *

Pat Fidopiastis is a Professor of Microbiology at California Polytechnic State University,

Tyler Durden
Sun, 02/05/2023 – 00:00

Australia Becomes 1st Country To Legalize Therapeutic Use Of MDMA & Psilocybin

0
Australia Becomes 1st Country To Legalize Therapeutic Use Of MDMA & Psilocybin

Authored by Brett Wilkins via Common Dreams,

After decades of criminalization, Australia’s government said Friday that it will legalize the prescription of MDMA and psilocybin for the treatment of two medical conditions, a historic move hailed by researchers who have studied the therapeutic possibilities of the drugs.

Australia’s Therapeutic Goods Administration (TGA) said in a statement that starting July 1, psychiatrists may prescribe MDMA (3,4-methylenedioxy-methamphetamine), commonly called “Molly” or “ecstasy” by recreational users, to treat post-traumatic stress disorder (PTSD) and psilocybin—the psychedelic prodrug compound in “magic” mushrooms—for treatment-resistant depression.

“These are the only conditions where there is currently sufficient evidence for potential benefits in certain patients,” TGA said, adding that the drugs must be taken “in a controlled medical setting.”

Advocates of MDMA and psilocybin are hopeful that one day doctors could prescribe them to treat a range of conditions, from alcoholism and eating disorders to obsessive-compulsive disorder.

David Caldicott, a clinical senior lecturer in emergency medicine at Australian National University, toldThe Guardian that Friday’s surprise announcement is a “very welcome step away from what has been decades of demonization.”

Caldicott said it is now “abundantly clear” that both MDMA and psilocybin “can have dramatic effects” on hard-to-treat mental health problems, and that “in addition to a clear and evolving therapeutic benefit, [legalization] also offers the chance to catch up on the decades of lost opportunity [of] delving into the inner workings of the human mind, abandoned for so long as part of an ill-conceived, ideological ‘war on drugs.'”

MDMA—which has been criminalized in Australia since 1987—was first patented by German drugmaker Merck in the early 1910s. After World War II the United States military explored possibilities for weaponizing MDMA as a truth serum as part of the MK-ULTRA mind control experiments aimed at creating real-life Manchurian candidates. A crossover from clinical usage in marriage and other therapies in the 1970s and ’80s to recreational consumption—especially in the disco and burgeoning rave scenes—in the latter decade sparked a conservative backlash in the form of emergency bans in countries including Australia, the United Kingdom, and the United States.

The U.S. Drug Enforcement Administration classifies MDMA and psilocybin as Schedule I substances, meaning they have “no currently accepted medical use and a high potential for abuse.”

Patients who’ve tried MDMA therapy and those who treat them say otherwise. A study published last year by John Hopkins Health found that in a carefully controlled setting, psilocybin-assisted psychotherapy held promise for “significant and durable improvements in depression.”

The California-based Multidisciplinary Association for Psychedelic Studies (MAPS)—the world’s premier organization for psychedelic advocacy and research—interviewed Colorado massage therapist Rachael Kaplan about her MDMA-assisted therapy for PTSD:

For the majority of my life I prayed to die and fought suicidal urges as I struggled with complex PTSD. This PTSD was born out of chronic severe childhood abuse. Since then, my life has been a journey of searching for healing. I started going to therapy 21 years ago, and since then I have tried every healing modality that I could think of, such as bodywork, energy work, medications, residential treatment, and more. Many of these modalities were beneficial but none of them significantly reduced my trauma symptoms. I was still terrified most of the time…

In my first MDMA-assisted psychotherapy session I was surprised that the MDMA helped me see the world as it was, instead of seeing it through my lens of terror. I thought that the MDMA would alter my perception of reality, but instead, it helped me see… more clearly… The MDMA session was the first time that I was able to stay present, explore, and process what had happened to me. This changed everything… There are no words for the gratitude that I feel.

Jon Lubecky, an American Iraq War combat veteran who tried to kill himself five times, told NBC‘s “Today” in 2021 that MDMA therapy—also with MAPS—enabled him “to talk about things I had never brought up before to anyone.”

“And it was OK. My body did not betray me. I didn’t get panic attacks. I didn’t shut down emotionally or just become so overemotional I couldn’t deal with anything,” he recounted.

“This treatment is the reason my son has a father instead of a folded flag,” Lubecky said in a message to other veterans afflicted with PTSD. “I want all of you to be around in 2023 when this is [U.S. Food and Drug Administration]-approved. I know what your suffering is like. You can make it.”

MAPS’ latest clinical research on MDMA—which is aimed at winning FDA approval—is currently in phase three trials. The Biden administration said last year that it “anticipates” MDMA and psilocybin would be approved by the FDA by 2024 and is “exploring the prospect of establishing a federal task force to monitor” therapeutic possibilities of both drugs.

Like MDMA, psilocybin—which occurs naturally in hundreds of fungal species and has been used by humans for medicinal, spiritual, and recreational purposes for millennia—remains illegal at the federal level in the U.S., although several states and municipalities have legalized or decriminalized psychedelic mushrooms, or have moved to do so.

There have also been bipartisan congressional efforts to allow patients access to both drugs. Legislation introduced last year by U.S. Sens. Cory Booker (D-N.J.) and Rand Paul (R-Ky.) would permit therapeutic use of certain Schedule I drugs for terminally ill patients. Meanwhile, Reps. Alexandria Ocasio-Cortez (D-N.Y.) and Dan Crenshaw (R-Texas) passed amendments to the 2023 National Defense Authorization Act providing more funding for psychedelic research and making it easier for veterans and active-duty troops suffering from PTSD to try drug-based treatments.

Tyler Durden
Sat, 02/04/2023 – 23:30