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Stock Rally Fizzles As Red Wave Downgraded To Red Ripple

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Stock Rally Fizzles As Red Wave Downgraded To Red Ripple

Futures and yields are flat, both recovering from a dip earlier in the session, as investors kept an eye on midterm election results ahead of key inflation data later in the week. To the disappointment of bulls, a Red Wave failed to emerge in Congress as voters delivered a mixed verdict in elections shaped by inflation and split around social issues, with Republicans headed toward control of the US House, but by smaller margins than forecast, while the Senate majority remains a toss-up.

In the House, official results have Republicans on 196 and Democrats on 168. Projections from the New York Times (seats either already won by a party or projected to win) put the Republicans on 219 and Democrats on 207 with 9 seats viewed as “tossups”. In the Senate, official results have Republicans on 47 and Democrats on 48. Democrats won in PA (where a brain-damaged Fetterman managed to flip a critical seat which even liberal pollsters said was set to go to republican Challenger Dr. Oz ) and NH; GOP is leading in NV and WI; Democrats leading in AZ and GA. Three key battleground states which are yet to be called are Arizona, Nevada and Georgia. The Georgia seat could end up having to be decided via an election run-off which would be held on December 6th. As such, the outcome of the election might not be known for weeks.

“It is clear that any Republican majority is likely to be extremely narrow. From a market perspective, that would certainly be attractive,” said DWS Global Chief Investment Officer Bjoern Jesch. “On the one hand, this would remove corporate tax increases or other spending packages that would have threatened both houses if the Democrats marched through. On the other hand, the Republicans would probably be too divided to set their own strong accents in legislation.”

Back to markets, where Nasdaq 100 futures were down -0.5%, while S&P 500 futs slipped 0.4% at 7:30 am ET after fluctuating between gains and losses one day after stocks capped a three-day rally.

In premarket trading, News Corp. and Disney both tumbled at least 8% after posting disappointing results. A selloff in cryptocurrencies deepened, sending Bitcoin toward the biggest four-day slump since June. Oil slid on the now daily sluggish demand outlook from China. The dollar rose while yields were flat.  Affirm Holdings shares tumbled 16% as analysts said the buy-now-pay-later firm’s guidance cut and ongoing credit deterioration overshadowed a solid quarter. Meta Platforms Inc. gained after confirming job cuts of about 13% and let more than 11,000 of employees go. Here are some of the biggest US movers today:

  • Amyris shares slump 22% in US premarket trading after the chemical products distributor reported third-quarter revenue that missed the average analyst estimate. Piper Sandler said more clarity was given on the outlook, but thought there was still some uncertainty.
  • Axon Enterprise reported strong quarterly results and the outlook for the taser and body cameras maker remains strong, analysts say. Axon shares rose 7.7% in extended trading following the results.
  • CarGurus shares drop 22% in premarket trading after the car retailer reported weak 3Q results and gave disappointing guidance, with analysts unsure how long it will take the firm to fix the challenges it faces.
  • Keep an eye on News Corp (NWSA US) after the company reported first-quarter revenue that came ahead of Guggenheim’s estimates, though the broker notes management’s comments on headwinds stemming from factors such as exchange rates persisting into the next quarter.
  • Kroger stock gains 1.3% in premarket trading as Evercore ISI upgraded it to outperform, saying that risk/reward appears favorable with food inflation likely to stay higher for longer.
  • Shares in cryptocurrency- exposed companies dropped in US premarket trading as digital currencies extended their losses, with Binance’s potential takeover of troubled rival exchange FTX stoking worries over the fragility of the industry.Riot Blockchain (RIOT US) -3.8%, Marathon Digital (MARA US) -5%, MicroStrategy (MSTR US) -7%, Coinbase (COIN US) -5%
  • Tesla shares rise as much as 1.9% in US premarket trading following three days of losses and lowest level since June 2021; CEO Elon Musk sold $3.95 billion of shares in the electric-vehicle maker.
  • Upstart slumps about 26% in US premarket trading and is set to hit the lowest level since its IPO in 2020. The AI lending platform’s 3Q results are well below expectations as it deals with significant pressure on its core business from a weakening macro backdrop, analysts say.

Investors had hoped for a Republican “Red Wave” in Congress, with the best outcome seen as GOP control of both the House of Representatives and Senate. Optimism for shares has been helped by a history of robust performance following midterm results. Stocks have tended to flourish during times when government is constrained and polls suggest Republicans could make gains, placing a check on Democratic policies. But voters – and the USPS – delivered a mixed verdict, with Republicans heading for control of the House by smaller margins than forecast and the race for Senate still wide open. The final outcome may not be known for days or even weeks if the results are as close as polls have suggested and if losers challenge results.

“The Republican aim of controlling both houses hangs by a thread,” Chris Beauchamp, the chief markets analyst at IG Group in London, wrote in a note. “A divided House might mean the partisan battles over spending and the debt ceiling are not quite as dramatic or vitriolic, but this is unlikely to brighten the policy outlook markedly. Instead, the focus will likely return to the Federal Reserve and the US economy.”

That left Thursday’s inflation report the next catalyst for markets. Economists are expecting the figures to show consumer prices cooled slightly compared with the previous month. The data could provide crucial clues on how the Federal Reserve is likely to proceed with tightening monetary policy.

“Tension is high and investors won’t want to be burnt by jumping the wrong way ahead of that inflation data, because in the past expectation has proved a little off the mark,” said Danni Hewson, a financial analyst at AJ Bell.

In Europe, the equity benchmark fell for the first time in four days, dragged by tech, real estate, travel- and automotive-industry shares. Euro Stoxx 50 falls 0.7%. IBEX is flat but outperforms peers, DAX lags, dropping 0.8%.  Here are some of the biggest European movers today:

  • Vantage Towers shares jump as much as 11% after Vodafone said in a statement that it will deconsolidate its 81.7% interest in the tower business by creating a joint venture with KKR and Global Infrastructure Partners to hold the stake.
  • Smiths Group rises as much as 5.4%, hitting the highest since Feb. 2020, with analysts saying the industrial group delivered a strong start to its fiscal year.
  • Recordati shares rise as much as 4.8%, hitting the highest since Sept. 19 and extending gains after its results in the prior session, as Banca Akros upgrades its rating on the drugmaker.
  • Scor shares reversed earlier declines on the back of its third quarterly loss in a row and climbed as much as 4.5%, as analysts focused on their deep value and noted that a cost- cutting plan marked a pivotal moment for the French reinsurer.
  • Commerzbank shares decline despite the German lender delivering a beat on its quarterly earnings, with Deutsche Bank flagging what looks like conservative guidance for 2024. Shares fall as much as 7.6%.
  • Evotec falls as much as 12%, the most in three months, after analysts said the German biotech missed quarterly estimates, with investments in the Just-Evotec Biologics arm hurting profits.
  • ITV shares drop as much as 6.6% after the broadcaster said rising costs will be an issue in 2023. Barclays notes this is the first time ITV has mentioned that inflation may hit its costs and earnings. While 3Q results largely met expectations, analysts say the 4Q advertising outlook fell short amid growing economic uncertainty.
  • Marks & Spencer falls as much as 7%, the most since Sep. 29, after the UK retailer’s trading update is seen as offering little reassurance in the face of demand headwinds and cost inflation.

Earlier in the session, Asian shares were little changed after three straight gains of more than 1%, as a rally in tech stocks offset losses in Chinese shares and investor worries about US midterm election results. The MSCI Asia Pacific Index was up 0.01% as of 6:04 p.m. in Singapore, with chipmakers TSMC and Samsung Electronics among the biggest boosters, while Chinese internet names fell amid concerns over Singles Day sales.   With Republicans headed toward control over the US House of Representatives — albeit by a smaller margin than forecast –some investors say it portends difficulty in passing legislation during a trying economic period, while others see political gridlock as preserving status quo. “This could be a dysfunctional political situation at a time of economic crisis,” said Gary Dugan, chief executive officer at the Global CIO Office. However, there may be some positive impact on Asia stocks if the dollar tops out, he added.

Meanwhile, tech shares extended a rebound on cheaper valuations, boosting benchmarks in Taiwan and South Korea. Key gauges in China and Hong Kong, however, dropped for a second straight day after a recent rebound. The decliners were influenced as Chinese producer prices fell into deflation for the first time in nearly two years amid lockdowns and new Covid cases in Beijing jumped. While Asia’s benchmark index has rebounded more than 7% from a recent trough, all eyes are on US consumer price inflation data due Thursday for a sense of the Federal Reserve’s next policy step. Growing lockdowns in China are also weighing on sentiment. “We don’t think the worst is over for Asian equities even though the markets have bounced back about 7% from the late October bottom and flows have picked up,” said Manishi Raychaudhuri, a strategist at BNP Paribas. “The Fed’s hawkish stance on inflation shall sustain till there are clear signs of core inflation peaking out.”

Japanese stocks fells: the Topix dropped 0.4% to 1,949.49 at the 3 p.m. close in Tokyo, while the Nikkei 225 declined 0.6% to 27,716.43. Nintendo contributed the most to the Topix’s loss, decreasing 7.1%. Out of 2,165 stocks in the index, 1,020 rose and 1,022 fell, while 123 were unchanged.

In India, stocks fell from their near-record levels as investors booked profits in recent outperformers such as ICICI Bank and Hindustan Unilever. Stocks across Asia were mixed as investors await midterm poll results in the US.  The S&P BSE Sensex fell 0.3% to 61,033.55 in Mumbai, while the NSE Nifty 50 Index eased by an equal margin. Both indexes still trade about 1% short of their record levels seen in October last year.  Fifteen of BSE Ltd.’s 19 sector sub-gauges dropped, led by consumer durable companies as trading resumed after a holiday on Tuesday. Tata Motors, the owner of Jaguar Land Rover, reported smaller-than-expected loss for September quarter, adding to Indian companies’ stronger show for the earnings season. Of the 44 Nifty firms that have announced results so far, 31 have met or beaten analysts’ estimates, while 10 missed. ICICI Bank contributed the most to the Sensex’s decline, decreasing 0.6%. Out of 30 shares in the index, 8 rose and 22 fell.

Australian stocks rallied for a 4th day: the S&P/ASX 200 index rose 0.6% to close at 6,999.30, boosted by gains in mining and real estate shares. A gauge of mining shares hit the highest since Aug. 26 after metal prices increased. Shares of gold miners, including St Barbara, were the benchmark’s best performers after the metal advanced on a slide in the US dollar.  In New Zealand, the S&P/NZX 50 index was little changed at 11,143.48.

In FX, the Bloomberg Dollar Index rebounded and the greenback rose versus all of its Group-of-10 peers as risk assets turned lower. One-day hedging costs rallied across the major currencies, modestly higher than what the roll suggested, as focus shifts to Thursday’s US inflation report. Risk sensitive currencies, such as the kiwi and pound fell by around 1% against the greenback. The euro fell, but remained above parity.

  • The pound plunged by as much as 1.1% after three days of gains, while gilts twist flattened. Bank of England monetary policy committee members Jon Cunliffe and Jonathan Haskel are due to speak later, a day after Chief Economist Huw Pill suggested that the stimulus program through the pandemic was a mistake and contributed to inflation
  • Australian sovereign bonds extended opening gains after data showed that China’s producer prices fell into deflation for the first time in nearly two years. The producer price index declined 1.3% in October from a year earlier after gaining 0.9% the previous month
  • Japanese government bonds rose after a solid sale of 30-year bonds alleviated concerns about demand for super-long debt. The yen was steady

In rates, Treasuries were mixed with the curve flatter, pivoting around a little-changed 10-year sector. Bunds outperform, bull-flattening sharply, while stocks hover near top of Tuesday’s range. US yields richer by nearly 2bp across long-end of the curve and cheaper by ~1bp across front-end, leaving 2s10s, 5s30s spreads flatter by 1bp and 2bp on the day, while 10-year at around 4.125% is little changed from Tuesday’s close. Bunds outperform by 4.5bp in the 10-year sector, gilts by 1.2bp. Focal points of US session focus include 10-year note auction and a couple of Fed speakers ahead of Thursday’s inflation data: the US auction cycle resumes with $35b 10-year at 1pm, followed by $21b 30-year Thursday; Tuesday’s 3-year note sale was strong, drawing a yield 1.2bp below the WI at the bidding deadline.  Two-year German and Italian government bond yields inched up while falling further out. One trader has placed a large bet using options on German 10-year futures, targeting the yield to fall to 1.55% for maximum profit, down from about 2.25% currently

In commodities, WTI drifts lower to trade near $88. WTI and Brent futures are softer intraday as the Dollar claws back some recently lost ground and sentiment remain tilted to the downside, while China’s COVID situation remains an overhang for the complex. Spot gold fell roughly $7 to trade near $1,705/oz, swayed from gains to losses after testing resistance at its 100 DMA (1,715/oz) in early European hours, before a turn in risk sentiment spurred the Dollar and hit the yellow metal. Base metals are pressured by the downbeat risk tone and the firmer Dollar, but 3M LME copper holds onto a USD 8,000/t handle after testing USD 8,100/t to the upside overnight.

Cryptocurrencies slipped further as Binance’s potential takeover of embattled rival exchange FTX.com highlighted how strains in the digital-asset industry are buffeting some of its top players. Bitcoin traded as much as 7.7% lower.

To the day ahead now, and although investors will be digesting the midterm results, there are a few central bank speakers to look out for as well, including the Fed’s Williams and Barkin, the ECB’s Elderson, and the BoE’s Haskel and Cunliffe.

Market Snapshot

  • S&P 500 futures down 0.4% to 3,820.50
  • STOXX Europe 600 down 0.8% to 418.34
  • MXAP up 0.2% to 144.17
  • MXAPJ up 0.5% to 464.43
  • Nikkei down 0.6% to 27,716.43
  • Topix down 0.4% to 1,949.49
  • Hang Seng Index down 1.2% to 16,358.52
  • Shanghai Composite down 0.5% to 3,048.17
  • Sensex down 0.2% to 61,067.52
  • Australia S&P/ASX 200 up 0.6% to 6,999.30
  • Kospi up 1.1% to 2,424.41
  • German 10Y yield down 0.9% to 2.26%
  • Euro down 0.2% tp $1.0051
  • Brent Futures down 0.7% to $94.71/bbl
  • Gold spot down 0.3% to $1,707.98
  • U.S. Dollar Index up 0.1% to 109.79

Top Overnight News from Bloomberg

  • US voters delivered a mixed verdict in elections shaped by inflation and splits around social issues, with Republicans headed toward control of the US House, but by smaller margins than forecast
  • Consumers’ expectations for inflation over the next 12 months rose to 5.1% in September from 5% in August, European Central Bank says in statement summarizing the results of its monthly survey
  • Euro-area wage growth has jumped, with most occupations seeing raises of at least 3%, according to an analysis of job ads that also suggests the pace of increases may be flattening
  • Two key indicators of Chinese interbank borrowing costs have hit a three-month high, as the nation’s central bank faces a crucial decision on what to do with a massive amount of policy loans due next week
  • Hungary’s annual price growth increased by a full percentage point in October to 21.1%, data published Wednesday showed. The nation is closing in on the three Baltic states that have the fastest inflation in the EU

A more detailed summary of global markets courtesy of Newsquawk

Asia-Pac stocks traded cautiously and US equity futures were indecisive as attention focused on the trickling results from the US Midterm Elections where a red wave has so far not yet materialised although Republicans are in a strong position to take control of the House, while the Senate race is still widely viewed as a toss-up. ASX 200 was led higher by strength in the mining-related sectors although upside was capped as financials are subdued following results from National Australia Bank which posted an increase in FY profit but warned of a significant slowdown in lending growth for the current fiscal year. Nikkei 225 faded its initial gains with price action lacklustre amid a slew of earnings and despite Japan’s Cabinet approving a JPY 29.1tln extra budget to fund the stimulus package. Hang Seng and Shanghai Comp swung between gains and losses with early strength in property names after China’s state planner asked large banks to step up lending for manufacturing infrastructure and developers, with China to provide initial support of around CNY 250bln in bond financing to private firms, although COVID-related headwinds persisted following a further increase in China’s daily infections and participants also reflected on the mixed-to-soft inflation data. Chinese developers jumped the most in eight months as a regulator expanded financing support for the sector.

Top Asian News

  • China’s Guangzhou reportedly locked down a second district due to coronavirus. However, it was separately reported that China lifted the lockdown in the area around Foxconn’s Apple (AAPL) iPhone plant as planned, according to Bloomberg.
  • China’s Guangzhou locks down another district amid COVID, according to Bloomberg.
  • China reported 1,346 (prev. 890) new coronavirus cases in the mainland for November 8th, 1,294 (prev. 843) new local cases and 6,989 (prev. 6,801) new asymptomatic cases, according to Reuters.
  • US President Biden will highlight a commitment to rules-based international order in the South China Sea during the ASEAN summit and will talk about the need for peace and stability throughout the Indo-Pacific region and across the Taiwan Strait, according to a senior administration official cited by Reuters.
  • RBA’s Bullock reiterated that further rate hikes will be needed. Wage growth is a bit stronger than thought three months ago. Good reason to think approaching peak of the inflation cycle, via Reuters.

In Europe, major bourses hold a downside bias after seeing some choppiness at the cash open and following a somewhat mixed APAC handover. Sectors are all in the red with a clear defensive bias as Telecoms, Utilities, Healthcare, Food & Beverages post the shallowest losses, whilst Tech, Travel & Leisure, Real Estate and Retail reside at the other end of the spectrum. US equity futures traded sideways on either side of breakeven overnight and in early European hours but have since drifted under the overnight lows.

Top European News

  • UK PM Sunak could raise the top rate of income tax, according to The Telegraph. Options being discussed include raising the 45% top rate, or lowering the GBP 150k annual income threshold at which it kicks in.
  • UK Chancellor Hunt is set to scrap former PM Truss’ plan for investment zones, according to FT.
  • EU is mulling Eurobonds for Ukraine fund, Politico reported – will propose a new EU instrument to finance EUR 18bln.
  • ECB Says 12-Month Consumer Inflation Expectations Rose Slightly
  • Adidas Cuts Margin Forecast After Ending Yeezy Partnership
  • M&S Falls Amid Concerns Over Demand, Cost Inflation For Retail
  • Top Sunak Ally Williamson Resigns Amid Bullying Allegations
  • Commerzbank’s New Targets Disappoint Investors as Charges Mount

FX

  • DXY attempted to stop the rot and nurse some losses awaiting the remaining and potentially game-changing Midterm Election results, with the index now on either side of 110.00.
  • The NZD and GBP underperform and more ground than other majors as the Buck bounced, with nothing obvious in terms of negative NZ or UK factors.
  • Traditional havens JPY and CHF are off best levels, but retained a safety premium as the rout in crypto currencies raged on and the ripples reverberated across to stocks.

Fixed Income

  • US Treasuries are braced for the long bond sale that wraps up this week’s rather mixed Quarterly Refunding.
  • Gilts remain in the green having digested an average Green offering.
  • Bunds saw a lack of positive reaction despite a very well received 2032 German auction.

Commodities

  • WTI and Brent futures are softer intraday as the Dollar claws back some recently lost ground and sentiment remain tilted to the downside, whilst China’s COVID situation remains an overhang for the complex.
  • US Energy Inventory Data (bbls): Crude +5.6mln (exp. +1.4mln), Cushing -1.8mln, Gasoline +2.6mln (exp. -1.1mln), and Distillate -1.8mln (exp. -0.9mln).
  • IEA’s Birol said OPEC+ might need to rethink its output cut decision, according to Bloomberg
  • Spot gold swayed from gains to losses after testing resistance at its 100 DMA (1,715/oz) in early European hours, before a turn in risk sentiment spurred the Dollar and hit the yellow metal
  • Base metals are pressured by the downbeat risk tone and the firmer Dollar, but 3M LME copper holds onto a USD 8,000/t handle after testing USD 8,100/t to the upside overnight.

Geopolitics

  • North Korea fired a missile, according to South Korean military; could be a ballistic missile, according to Japanese Coast Guard; projectile has fallen outside of Japan’s EEZ.
  • German cabinet has agreed to block the prospective Chinese takeover of Elmos chip factory and ERS electronics, according to government sources cited by Reuters.

US Event Calendar

  • 07:00: Nov. MBA Mortgage Applications, prior -0.5%
  • 10:00: Sept. Wholesale Trade Sales MoM, est. 0.5%, prior 0.1%
  • 10:00: Sept. Wholesale Inventories MoM, est. 0.8%, prior 0.8%

Central Banks

  • 03:00: Fed’s Williams Discuss Risk and Uncertainty at Event in Zurich
  • 11:00: Fed’s Barkin Discusses the Economic Outlook
  • 20:00: Fed’s Kashkari Discusses Inflation and the Economy

DB’s Jim Reid concludes the overnight wrap

As has been anticipated, it will take a few days to unpack the full results of the US midterms. What is clear at this hour though is that neither major party is running away with the election in a ‘wave’ and it appears that Republicans are still on track to achieve a majority in the House of Representatives, a combo that should put a pin in any new fiscal stimulus for the next few years. The New York Times model is currently showing that the Senate will likely finish with 50 seats each. So overall maybe Democrats slightly outperforming but it’s not too far away from expectations. The mix also seems to not be surprising markets too much, as S&P 500 futures (-0.07%) are oscillating between gains and losses as we go to press. Our US team will be hosting a webinar later today to unpack the implications with the link to register here.

As we awaited the results of the midterm elections, risk assets continued to put in a decent performance yesterday, with the S&P 500 (+0.56%) advancing for a 3rd consecutive session. A reminder that if history’s any guide that could prove to be just the start however, since in all 19 post-war midterm elections, the S&P 500 has closed above its levels on the day of the election after a year. We highlighted this a couple of months ago and in yesterday’s CoTD we showed how the 3 quarters from midterms have been the top 3 quarters for the S&P 500 since 1949 across the 4 year presidential cycle. However as I’ve eluded for a while, although I’ve thought midterms would be a short-term positive catalyst I suspect we won’t see this record spell stretch into a 20th successive positive outcome 12 months on. I’m going to take a stab at why we should ignore history today in my CoTD.

Back to yesterday and gains were pretty broad-based for a relatively modest index-level increase, with over 70% of the index moving higher on the day, and only the consumer discretionary sector in the red (-0.30%) on the day thanks to Tesla’s (-2.93%) decline. The Nasdaq flitted around zero, trading as much as +1.70% higher and -0.87% lower before splitting the difference to finish up +0.49%. After the close, Mark Zuckerberg confirmed that layoffs would start at Meta tomorrow, which won’t help tech sentiment. The sentiment wasn’t any better following Disney’s after-hours earnings, which came in below consensus and had the company ready to find “meaningful efficiencies” in light of rising costs. Disney’s shares were -6.83% lower after the close.

The S&P 500 had a bit of a wild swing after Europe went home moving from +1.35% to -0.55% in the space of an hour before closing higher (+0.56%) as Bitcoin (long time no mention) plunged to $17,187 having been as high as $20,655 as European equity markets closed. It bounced back into the close and is at similar levels as we type this morning at $18,430. Crypto exchange FTX.com had been suffering from a liquidity crunch before rival Binance agreed to buy it yesterday and the associated story created a fair amount of noise, some of it creeping into equities. This morning in Asia there are a few concerns the deal isn’t binding so one to keep an eye on. Before the late US vol, the STOXX 600 (+0.78%) hit its highest level in nearly two months, whilst the DAX (+1.15%) hit its highest level in nearly three months.

For sovereign bonds, the main focus is still on tomorrow’s US CPI report, but there was a decent rally ahead of that as investors modestly dialled back their expectations of future central bank rate hikes. For instance, the futures-implied rate for the Fed in December 2023 came down -6.1bps to 4.80%, having traded as high as 4.88% earlier in the European morning. In turn, that prompted a rally in Treasuries across the curve, with the 10yr yield down -9.0bps on the day to 4.12%, with roughly half of the decline in real yields, which fell -5.2bps. In the meantime, the 2s10s yield curve flattened -1.7bps to -53.1bps, remaining just above its post-1982 closing low of -57.3bps from last week. Meanwhile, in Asia, 2 and 10yr yields are back up a basis point.

Over in Europe, there was a similar sovereign bond rally, with yields on 10yr bunds (-6.3bps), OATs (-6.6bps) and gilts (-9.0bps) all lower on the day. At the front end however, UK gilts underperformed, with the 2yr yield up +5.3bps after BoE chief economist Pill said that “there is more to come” on rates following their 75bp hike last week. Overnight index swaps are currently pricing a nearly even split between a 50bps or 75bps hike at the next meeting in December.

This morning in Asia, equities are mostly trading lower led by the Hang Seng (-1.52%) with the CSI (-0.75%), the Shanghai Composite (-0.35%) and the Nikkei (-0.54%) all trading in negative territory. Elsewhere, the KOSPI (+1.00%) is bucking the trend.

We’ve had softer price data coming out of China as the nation’s producer price index (-1.3% y/y) in October fell for the first time in two years, down from +0.9% growth in September as strict Covid restrictions coupled with a sluggish property sector amid global recession risks dented the economy. Meanwhile, consumer inflation in October (+2.1% y/y) moderated from September’s 29-month high of +2.8% (v/s +2.4% expected) pointing towards underlying domestic price pressures remaining modest.

Staying on China, the Chinese yuan extended its decline for a third day, weakening past the 7.25 level against the dollar after the data. The subdued inflation figures suggests that the PBOC policy divergence against its global peers will continue.

There wasn’t much in the way of data releases yesterday, with Euro Area retail sales growing by +0.4% in September, in line with expectations. That said, there was a positive revision to August which showed that retail sales were unchanged, as opposed to the -0.3% contraction previously released. Otherwise in the US, the NFIB’s small business optimism index for October fell for the first time since June, coming in at 91.3 (vs. 91.4 expected).

To the day ahead now, and although investors will be digesting the midterm results, there are a few central bank speakers to look out for as well, including the Fed’s Williams and Barkin, the ECB’s Elderson, and the BoE’s Haskel and Cunliffe.

Tyler Durden
Wed, 11/09/2022 – 07:52

Tesla Pops For First Time In 3 Days After Musk Reports $4 Billion In Stock Sales

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Tesla Pops For First Time In 3 Days After Musk Reports $4 Billion In Stock Sales

Tesla shares are higher this morning after Tesla CEO Elon Musk, in the midst of the mid-term election fray last night, filed a Form 4 showing billions of dollars in stock sales. It marks the first time Tesla shares are higher in three days.

Investors are likely betting that the selling pressure of the last three days is set to subside, though we won’t know until the cash session opens today whether or not that will be the case. Last night it was reported on a Form 4 that Musk had sold 19.5 million shares of stock for about $4 billion over the last three days.

It has been speculated that Musk needs to consummate the sales in order to support his $44 billion takeover of Twitter, a platform that has seen an advertiser (and revenue) exodus in the days following Musk taking the helm. Musk has also leaned on financing from Binance, Ron Baron’s BAMCO, Andreessen Horowitz, Twitter’s former CEO Jack Dorsey and Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia, CNBC wrote. 

These sales are on top of the nearly $22 billion Musk sold in 2021, according to CNBC. So far this year he sold over $8 billion in stock in April and about $7 billion in August. 

It is unclear if Musk has more stock to sell. In the past he has taken to Twitter to assure investors that he is finished selling, but we’ve seen no such Tweet this time. Yesterday’s Form 4 would have been filed near the time limit for Musk to have to disclose the share sales. 

Short seller and perpetual Musk critic Jim Chanos also made a good point on Twitter last night, pointing out that Musk had already told his followers that he was done selling Tesla stock for the Twitter deal back in August.

“In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” Musk wrote. 

And even now, we still haven’t gotten an “I’m done selling” Tweet – so who knows what the future holds in terms of more potential sales…

Tyler Durden
Wed, 11/09/2022 – 07:45

Republicans See Gains In Midterms, But ‘Red Wave’ Hopes Fade As Democrats Outperform

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Republicans See Gains In Midterms, But ‘Red Wave’ Hopes Fade As Democrats Outperform

Republican candidates have managed to push ahead of Democrats in the midterms, but the predicted red wave appears to have turned out to be little more than a ripple…

As of the time of writing, Petr Svab reports at The Epoch Times that the GOP is still on track to take over the House of Representatives but may eke out only a razor-thin majority.

In the Senate, the balance of power is likely to remain unchanged with Democrats on an easier path to shore in at least 50 seats with Vice President Kamala Harris casting the tie-breaker to keep them in control.

Republicans recorded the most striking success in Florida, where Gov. Ron DeSantis fortified his mandate, swiping nearly 60 percent of the vote, up from less than 50 percent in 2018, when he secured victory by 0.4 percent.

“We made promises to the people of Florida and we have delivered on those promises. And so today, after four years, the people have delivered their verdict. Freedom is here to stay,” DeSantis said in his victory speech to a roaring crowd of supporters at the Tampa Convention Center on Nov. 8.

The governor contrasted conditions in the Sunshine State with that of the other parts of the country under Democratic control.

“We set out a vision we executed on that vision. And we produced historic results and the people of this state have responded in record fashion,” he said.

“Now, while our country flounders due to failed leadership in Washington, Florida is on the right track.”

Democrats were only able to defend eight House seats in Florida, compared to 11 two years ago.

In Ohio, JD Vance beat Rep. Tim Ryan (D-Ohio) for an open U.S. Senate seat. “I am overwhelmed with gratitude,” Vance told supporters in Columbus. “I cannot express possibly in words how grateful I am.”

“We need better leadership in Washington, D.C., and that’s exactly what I promise to fight for every single day,” he added.

In the rest of the country, however, it was largely Democrats overperforming.

Democrat Josh Shapiro defeated Republican Doug Mastriano by more than 11 points in the Pennsylvania gubernatorial race.

Shapiro’s four-year term will lengthen Democrat rule in the executive office to 12 years. Current Democrat Gov. Tom Wolf is completing his second term. Eight years is the limit in Pennsylvania.

Shapiro, who is currently state Attorney General, will likely keep many of the policies Wolf has championed such as the Regional Greenhouse Gas Initiative, a cap-and-trade program that consumers are starting to notice through their higher energy bills.

Josh Shapiro speaks to supporters at the Greater Philadelphia Expo Center in Oaks, Pennsylvania, on Nov. 8, 2022. (Mark Makela/Getty Images)

Democrats have also flipped governorships in Maryland and Massachusetts, though both states generally lean blue, making those seats ripe for an upset.

In Arizona, Republican Kari Lake is still holding on to the hope of closing the 11-point gap between her and Democrat Katie Hobbs as much of the vote remains to be counted.

With the race too close to call, Lake took the stage at 10 p.m. and told watch partygoers that she was ready to “fight to win,” and, even if it takes hours or days, she’s confident about her chances. She also said her campaign is getting results that in-person voting favored her.

Democratic gubernatorial candidate Katie Hobbs (L) and Republican gubernatorial candidate Kari Lake (R). (The Epoch Times)

In a bitter fight to the end, Hobbs and Lake blasted each other on the campaign trail and courted Arizona voters until Election Day. They also ran on wholly opposite views on how best to govern Arizona.

Democrat Governors of Kansas and Wisconsin, Laura Kelly and Tony Evers, have managed to keep their seats, but by less than 3 percentage points. Some votes in those states still remain to be counted.

In the Senate races, the closely watched contest in Pennsylvania has been called by the Associated Press for Democrat John Fetterman, though Republican Mehmet Oz hasn’t conceded. Due to several election rule controversies in the state, the results may still get challenged in court.

In a victory speech before a cheering crowd in Pittsburgh, Fetterman repeated his campaign slogan:

“Every county, every vote.”

Then he said:

“That’s exactly what happened. We jammed them up. We held the line. I never expected that we were going to turn these red counties blue, but we did what we needed.”

Fetterman, who suffered a stroke in May, appeared animated and delivered his victory speech smoothly.

Behind the scenes, a number of vote-counting issues could threaten to tie up the final, official results of the election.

On Election Eve, Fetterman’s campaign filed a federal lawsuit seeking to force officials to count mail-in ballots with improper or missing dates. And on Election Day, officials in Philadelphia made an emergency change to a vote-counting process—a move they said they felt forced to make even though it could delay vote tallies by several days.

Final, unofficial vote tallies are not due until Nov. 15, and final certified results are to be filed by Nov. 28, Acting Secretary of the Commonwealth, Leigh Chapman, told reporters on Election Night.

Democratic Senate candidate John Fetterman speaks to supporters during an election night party in Pittsburgh, Pennsylvania, on Nov. 9, 2022. (Jeff Swensen/Getty Images)

The Georgia race between Sen. Raphael Warnock and Republican Hershel Walker remains too close to call and is likely to head for a December runoff.

As of press time, Warnack has picked up about 1.94 million votes, or 49.4 percent, compared to Walker’s roughly 1.90 million votes, or 48.5 percent, according to Decision Desk HQ. About 98 percent of the votes in Georgia have been counted. 

Warnock has remained confident about winning the race. Writing on Twitter at around 3:45 p.m. ET, he said he will have more votes than his opponent. 

“And whether we need to work all night, through tomorrow, or for four more weeks, we will do what we need to and bring this home,” Warnock wrote

On Tuesday night, Walker asked supporters to “hang in there a little bit longer.” 

“I’m telling you right now, I am like Ricky Bobby, I don’t come to lose,” Walker said.

If neither Walker nor Warnock surpasses the 50 percent threshold, they will head the Dec. 6 runoff.

Sen. Mark Kelly (D-Ariz.) holds on to a nearly 17-point lead over his Republican challenger Blake Masters.

Sen. Mark Kelly (D-AZ) delivers remarks to supporters at his election night rally at the Rialto Theatre in Tucson, Arizona, on Nov. 08, 2022. (Kevin Dietsch/Getty Images)

Republican challenger Adam Laxalt has taken a considerable lead over Sen. Catherine Cortez Masto (D-Nev.) with 72 percent counted, at 0700ET.

In Wisconsin, Sen. Ron Johnson may just barely save the seat for Republicans with Democrat Mandela Barnes pulling within about 1.5 points.

“We’ve looked very closely at the numbers,” Johnson said. “We feel very confident that there’s no way that they can really make up that gap.

“But I’m not going to declare victory until all the numbers are in, but I just want to give you guys a sense that this race is over.”

Supporters of Sen. Ron Johnson (R-WI) watch election returns during an election night party at the Best Western Premier Bridgewood Resort in Neenah, Wisconsin, on Nov. 08, 2022. (Chip Somodevilla/Getty Images)

In the House, Republicans have so far flipped nine seats and Democrats flipped three. Republicans are projected to squeeze out around 226 seats, securing them a slight majority.

Republican Thomas Kean Jr. was able to flip the 7th District of New Jersey, which used to be solidly red, but was won for Democrats in 2018 by Rep. Tom Malinowski.

Lauren Boebert, now representative-elect, speaks to supporters during a campaign rally in Colona, Colo., on Oct. 10, 2020. (Jason Connolly/AFP via Getty Images)

On the other hand, Republican firebrand Rep. Lauren Boebert could lose her seat in Colorado’s 3rd District to Democrat Adam Frisch.

The bottom line is Republican hopes for a wide House majority were dashed as Democrats held more seats than expected and even flipped a few Republican ones.

Votes are still being counted early Wednesday morning, but current totals indicate that House Republicans will control the chamber by a slim margin, making it more difficult to govern and giving small groups of lawmakers out-sized power.

The race for control of the Senate could very well come down to a Dec. 6 runoff in Georgia.

Democrats picked up a Senate seat in Pennsylvania, and Republicans have a strong chance of flipping a seat in Nevada. Early returns suggest Democrats could keep a seat they have in Arizona and Republicans retain a seat they now have in Wisconsin.

The so-called MAGA Republicans, backed by Trump, did not fare as well as expected.

From the market’s perspective, this means gridlock – just as it wanted:

“It is clear that any Republican majority is likely to be extremely narrow. From a market perspective, that would certainly be attractive,” said DWS Global Chief Investment Officer Bjoern Jesch.

“On the one hand, this would remove corporate tax increases or other spending packages that would have threatened both houses if the Democrats marched through. On the other hand, the Republicans would probably be too divided to set their own strong accents in legislation.”

Tyler Durden
Wed, 11/09/2022 – 07:20

Mark Zuckerberg To Fire 11,000 Meta Employees

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Mark Zuckerberg To Fire 11,000 Meta Employees

Following a WSJ report earlier this week that explained Meta Platforms was about to slash thousands of jobs, CEO Mark Zuckerberg confirmed the layoffs in a letter to employees premarket Wednesday.  

“I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go,” Zuckerberg told employees in a letter published on the company’s website. 

Zuck said, “We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1.” 

He continued: “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.” 

The letter said job reductions would be observed across all its business segments. Meta said it would reduce office space, move to desk sharing for some workers, and extend a hiring freeze through the first quarter of next year. 

“This is a sad moment, and there’s no way around that,” Zuck said, adding he misjudged post-Covid online activity. He believed elevated online activity during the virus pandemic would continue, though he was entirely wrong: 

“I got this wrong, and I take responsibility for that.” 

Shares of Meta are higher on the news, up more than 3% to the $99 handle in the premarket. 

As of the last earnings, Meta had over 87,000 employees (and has never seen a quarterly decline in headcount in its 18-year history). That will change in the next quarterly report… 

As a reminder, CEO Mark Zuckerberg told employees at a companywide meeting at the end of June:

“Realistically, there are probably a bunch of people at the company who shouldn’t be here.”

Read Zuck’s full letter to employees:

Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1.

I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.

How did we get here?

At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.

In this new environment, we need to become more capital efficient. We’ve shifted more of our resources onto a smaller number of high priority growth areas — like our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse. We’ve cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint. We’re restructuring teams to increase our efficiency. But these measures alone won’t bring our expenses in line with our revenue growth, so I’ve also made the hard decision to let people go.

How will this work?

There is no good way to do a layoff, but we hope to get all the relevant information to you as quickly as possible and then do whatever we can to support you through this.

Everyone will get an email soon letting you know what this layoff means for you. After that, every affected employee will have the opportunity to speak with someone to get their questions answered and join information sessions.

Some of the details in the US include:

  • Severance. We will pay 16 weeks of base pay plus two additional weeks for every year of service, with no cap.
  • PTO. We’ll pay for all remaining PTO time.
  • RSU vesting. Everyone impacted will receive their November 15, 2022 vesting.
  • Health insurance. We’ll cover the cost of healthcare for people and their families for six months.
  • Career services. We’ll provide three months of career support with an external vendor, including early access to unpublished job leads.
  • Immigration support. I know this is especially difficult if you’re here on a visa. There’s a notice period before termination and some visa grace periods, which means everyone will have time to make plans and work through their immigration status. We have dedicated immigration specialists to help guide you based on what you and your family need. 

Outside the US, support will be similar, and we’ll follow up soon with separate processes that take into account local employment laws.

We made the decision to remove access to most Meta systems for people leaving today given the amount of access to sensitive information. But we’re keeping email addresses active throughout the day so everyone can say farewell.

While we’re making reductions in every organization across both Family of Apps and Reality Labs, some teams will be affected more than others. Recruiting will be disproportionately affected since we’re planning to hire fewer people next year. We’re also restructuring our business teams more substantially. This is not a reflection of the great work these groups have done, but what we need going forward. The leaders of each group will schedule time to discuss what this means for your team over the next couple of days.

The teammates who will be leaving us are talented and passionate, and have made an important impact on our company and community. Each of you have helped make Meta a success, and I’m grateful for it. I’m sure you’ll go on to do great work at other places.

What other changes are we making?

I view layoffs as a last resort, so we decided to rein in other sources of cost before letting teammates go. Overall, this will add up to a meaningful cultural shift in how we operate. For example, as we shrink our real estate footprint, we’re transitioning to desk sharing for people who already spend most of their time outside the office. We’ll roll out more cost-cutting changes like this in the coming months. 

We’re also extending our hiring freeze through Q1 with a small number of exceptions. I’m going to watch our business performance, operational efficiency, and other macroeconomic factors to determine whether and how much we should resume hiring at that point. This will give us the ability to control our cost structure in the event of a continued economic downturn. It will also put us on a path to achieve a more efficient cost structure than we outlined to investors recently.

I’m currently in the middle of a thorough review of our infrastructure spending. As we build our AI infrastructure, we’re focused on becoming even more efficient with our capacity. Our infrastructure will continue to be an important advantage for Meta, and I believe we can achieve this while spending less.

Fundamentally, we’re making all these changes for two reasons: our revenue outlook is lower than we expected at the beginning of this year, and we want to make sure we’re operating efficiently across both Family of Apps and Reality Labs. 

How do we move forward?

This is a sad moment, and there’s no way around that. To those who are leaving, I want to thank you again for everything you’ve put into this place. We would not be where we are today without your hard work, and I’m grateful for your contributions.

To those who are staying, I know this is a difficult time for you too. Not only are we saying goodbye to people we’ve worked closely with, but many of you also feel uncertainty about the future. I want you to know that we’re making these decisions to make sure our future is strong.

I believe we are deeply underestimated as a company today. Billions of people use our services to connect, and our communities keep growing. Our core business is among the most profitable ever built with huge potential ahead. And we’re leading in developing the technology to define the future of social connection and the next computing platform. We do historically important work. I’m confident that if we work efficiently, we’ll come out of this downturn stronger and more resilient than ever.

We’ll share more on how we’ll operate as a streamlined organization to achieve our priorities in the weeks ahead. For now, I’ll say one more time how thankful I am to those of you who are leaving for everything you’ve done to advance our mission.

Mark

Tyler Durden
Wed, 11/09/2022 – 06:55

Establishment Supports Central Bank Gold Secrecy instead Of Exposing It

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Establishment Supports Central Bank Gold Secrecy instead Of Exposing It

Submitted by Ronan Manly, BullionStar.com

This week, the World Gold Council (WGC), which is a gold market development organization representing 32 of the world’s gold mining companies, published the latest quarterly edition of it’s well-known “Gold Demand Trends” research publication.

In the latest edition, which is titled “Gold Demand Trends Q3 2022”, the World Gold Council claims that during Q3 2022, “central banks continued to accumulate gold, with purchases estimated at a quarterly record of nearly 400 tonnes.

Rabbit from a Hat?

According to the WGC:

“Global central bank purchases leapt to almost 400 tonnes in Q3 (+115% q-o-q). This is the largest single quarter of demand from this sector in our records back to 2000 and almost double the previous record of 241t in Q3 2018.

It also marks the eighth consecutive quarter of net purchases and lifts the y-t-d total to 673 tonnes, higher than any other full year total since 1967.

Specifically, the World Gold Council claims that Q3 2022 central bank gold demand was 399.3 tonnes, which is a massive 340% higher than Q3 2021.

The infamous 399.3 tonnes of gold in question – Source WGC GDT Q3 2022

Sounding impressive enough, the world’s financial media not surprisingly ran with the soundbite, publishing articles with headlines such as “Record central bank buying lifts global gold demand, WGC says” and “Central bank gold purchases set an all-time high” and “Central banks are buying gold at the fastest pace in 55 years”.

Until that is, you read a bit further and see that the World Gold Council added a caveat for Q 3 2022 central bank gold demand, saying that for “Q3 net demand includes a substantial estimate for unreported purchases”.

Rabbit out of a Hat – Central bank gold demand data?

Wait, what was that? The Q3 gold buying from central banks includes “a substantial estimate for unreported purchases”? At first glance, and at subsequent glances, this sentence doesn’t add up. Some purchases went unreported, but were somehow estimated? By who? If unreported, how were they estimated? If the estimate was a substantial estimate, does this mean that there were substantial unreported purchases?

The World Gold Council report continues:

“The level of official sector demand in Q3 is the combination of steady reported purchases by central banks and a substantial estimate for unreported buying.

‘Data’ was only a ‘Suggestion’

So the 399.3 tonnes number in the WGC report is made up of some purchases which were reported by central banks, and also someone estimated a large quantity of buying which was not reported anywhere. What kind of scientific methodology is this, you may ask? Confused? You will be.

Selective focus at the World Gold Council

The WGC report tries to explain it’s numbers, but arguably digs itself deeper into a hole:

“This is not uncommon as not all official institutions publicly report their gold holdings or may do so with a lag.

It’s also worth noting that while Metals Focus suggests purchases occurred during Q3, it’s possible they may have started earlier in the year. In turn, this may result in future revisions as more information becomes available.”

Wait a minute! Metals Focus ‘suggests’ that unreported purchases occurred in Q3, but possibly these weren’t from Q3. And who is “Metals Focus” anyway? And why is the WGC replying on a methodology based on mere suggestions?  i.e. ‘suggesting purchases occurred in Q3’?    

Before looking at who Metals Focus is, and why they are involved in the World Gold Council reports, let’s see what else the World Gold Council said about Q3 2022 central bank gold buying.

Reported gold buying – Emerging Market central banks

Given that the elephant in the room is “a substantial estimate for unreported buying”, the World Gold Council report plays it safe and does not address this point further, and limits itself to only addressing central bank gold transactions that were reported at a country level, stating that these were “confined to a relatively small number of emerging market banks.

These emerging market central bank gold purchases included the Turkish central bank, which accumulated another 31 tonnes of gold during the third quarter, the Central Bank of Uzbekistan which bought 26 tonnes of gold in Q3, the Reserve Bank of India which bought 17 tonnes of gold in Q3, and the central banks of Mozambique (2 tonnes), the Philippines (2 tonnes) and Mongolia (1 tonne).

On the sell side, during Q3 Kazakhstan sold a net 2 tonnes, while the UAE sold a net 1 tonne.

A summary of most of the main country level central bank gold purchases and sales during Q3 can be seen on this WGC website page here

Qatar – An Inconvenient Fact

Importantly, the WGC report also refers to the Qatar Central Bank, saying that the Qataris bought 15 tonnes of gold in July, but then at the same time the WGC refuses to recognise that the Qatar Central Bank bought an additional 15.75 tonnes of gold between August and September, saying that the Qatar Central Bank “seemingly added more in both August and September, but we are awaiting IMF data to confirm the exact level of buying”, because “early data from the IMF is patchy”.

As readers of BullionStar will know, after buying 15 tonnes of gold during July, the Qatar Central Bank then bought another 4.73 tonnes of gold in August (see here), and then purchased an additional 11 tonnes of gold during September.

The full country level central bank gold purchases and sales which the WGC data includes can be seen in a WGC Excel spreadsheet at this link. Tallying all the monthly changes of every country over July, August and September 2022 (and taking out the double counting of Turkey’s central banks and commercial banks) gives a net purchase total of only about 89.5 tonnes over Q3, which is a far cry from the 399.3 tonnes which the WGC (and Metals Focus) claim central banks bought during the third quarter.

In fact, there are an astounding 310 tonnes of purchases attributed to unreported buying, which is an incredible 77.6% of total claimed central bank gold purchases during Q3 2022.

In other words, only 22.4% of the Q3 total of 400 tonnes of claimed central bank gold purchases can be attributed to reported purchases by central banks.

So hang on a minute? The World Gold Council won’t acknowledge that the Qatar Central Bank bought 15.75 tonnes of gold in August and September (even though it’s clearly stated on the Qatar Central Bank international reserves reports on the Bank’s website here), but the World Gold Council is, at the same time, willing to accept mere “suggestions” from Metals Focus that other central banks bought a massive 310 tonnes of gold during Q3? What kind of double standards are these?

And what kind of methodology is it that uses ‘suggestions’ from a third party – i.e. Metals Focus? Turning to the “notes and definitions” page of the WGC’s Gold Demand Trends Q3 2022, central Bank gold buying is merely defined as:

“Net purchases (i.e. gross purchases less gross sales) by central banks and other official sector institutions, including supra national entities such as the IMF. Swaps and the effects of delta hedging are excluded.

The Puppet Master – Metals Focus

There is no mention of Metals Focus. Nor does the World Gold Council’s ‘Central Bank data Methodology‘ pdf mention Metals Focus either.

The Q3 Gold Demand Trends report (the full pdf version of which is here also provides no clues on who Metals Focus is, only mentioning Metals Focus as a source in a few of the charts in the report, and also in a footnote mentioning Metals Focus as follows:

“Country-level gross sales and purchases based on the most recent IMF IFS and respective central bank data available at the time of writing.

This may not match the net central bank demand figures published in this report as Metals Focus uses additional sources of information to obtain its estimates.

(page 12 – footnote 4)

But to see any explanation of who Metals Focus is, we need to go to the WGC’s Gold Demand Trends “Supply and demand data methodology note” (pdf) which is linked from this WGC page here.

In section 1 of this note, titled “Demand & supply data provider”, we find that:

“Our core demand and supply data are provided by Metals Focus, a leading independent precious metals consultancy.

Metals Focus meets our strict criteria for the provision of demand and supply data, which includes the need for an extensive global network, an experienced team, and a robust methodology.

These elements combine to create a framework for collecting accurate, granular and transparent estimates for gold demand and supply.”

Hold on another minute? Transparent? And a robust methodology?

Section 3 of the same note, titled “Data collection process”, has the following to say about how Metals Focus collects central bank gold demand data:

Central bank demand is calculated using information from three different sources.

Monthly International Financial Statistics (IFS) produced by the IMF serve as an initial check for central bank transactions, but it is important to be aware that not all changes will reflect an outright sale or purchase – for example, swap activity can appear as a change to central bank holdings.

A second vital source is confidential information regarding unrecorded sales and purchases.

The final element in calculated net central bank purchases is analysis of trade flow data.

In the case of this of 310 tonnes of unreported gold buying in Q3, this was by definition not in the IMF IFS data, since it wasn’t reported in any country level reporting to the IMF IFS database.

Also the 310 tonnes can’t have been in ‘trade flow data’ since monetary gold HS Code 71082000), as Metals Focus well knows, is globally exempt from being reported in any trade flows.

London Confidential

So that leaves “confidential information regarding unrecorded sales and purchases”.

So basically, as you can see, the World Gold Council’s claim of central banks buying over 310 tonnes of unreported purchases in Q3 is based on a suggestion from Metals Focus, which is based on ‘confidential information’. And since no one knows what this ‘confidential information’ is, nor where it came from, there is no way to verify it.

How’s that for “granular and transparent estimates for gold demand”?

So now you can see the problem. Apart from undermining any sense of confidence in the data that the World Gold Council and Metals Focus have seemingly pulled out of the ether, there is also the problem that the major financial news outlets all ran with the 400 tonnes number for Q3 central bank gold demand, and didn’t point out the obvious issues with the data. And this reporting was everywhere this week, in multiple articles all over the world and across the web.

Bloomberg – What exactly do they do?

Furthermore, not one of the major financial news companies such as Bloomberg and Reuters, which have thousands of employees and investigative resources, even bothered to question the validity of this number, let alone devote journalistic resources to try to verify it using independent sources. How’s that for lack of professionalism in journalistic standards from Bloomberg and Reuters?

I have been to Bloomberg’s London headquarters, and indeed it is impressive, with hundreds and hundreds of reporters and data analytics staff located on every floor, and even TV studios. Up to 4000 staff says the official Bloomberg London website.

So are we to believe that Bloomberg can’t find any staff to independently verify the data of the Metals Focus consultancy, or even visit the Metals Focus office? Or maybe they don’t want to.

Because Metals Focus has it’s head office in London at 74/76 St John St, London EC1M 4DT. And Bloomberg has it’s European headquarters office in London at 3 Queen Victoria St, London EC4N 4TQ. And these buildings are less than 1 mile away from each other, as you can see on the map below:

Bloomberg and Metals Focus offices are less than 1 mile from each other in the City of London

So instead of questioning the data and using some of it’s 4000 London staff to go out and investigate the identity of the central banks in question, Bloomberg is content to run with the World Gold Council / Metal Focus ‘substantial estimate’ that is based on non-verifiable ‘confidential information’, and to write shallow clickbait articles such as “Mystery Whales Baffle Gold Market After Central Bank Purchases” and “Who Are The Mystery Buyers Responsible For Central Bank Gold Boom?” referring to a secretive bunch of unidentified sovereign buyers. All Bloomberg can do is speculate that it might be China or Russia or India or some of the middle eastern nations:

Central banks bought 399 tons of bullion in the third quarter, almost double the previous record, according to the World Gold Council. Just under a quarter went to publicly identified institutions, stoking speculation about mystery buyers.” 

If at this stage, you’re thinking why didn’t I ask Metals Focus to explain it’s sources for unreported central bank gold buying, I did. But they didn’t answer.

Were the numbers Plugged in?

When looking at physical gold demand and supply, Metals Focus and the World Gold Council use a supply – demand model where total gold supply in any year or quarter has to equal total gold demand in that same year or quarter. Here,

Gold supply’ = The total of mine production, net producer hedging
and recycling, and

Gold demand’ = The total of jewellery fabrication, technology fabrication, investment and net purchases by central banks” 

Metal Focus – Gold Supply Demand Balance model – Source WGC GDT Q3 2022
 
 
For example, in Q3 2022, the above components of  gold supply and the above components of gold demand each total 1215.2 tonnes, and demand has to equal supply for the model to work.

But could it be that this quarter, that the only way for the model to balance was to plug in a figure for central bank gold demand and claim that the data is a substantial estimate due to unreported buying? As the data is based on ‘confidential information’, no one would be able to verify it or confirm or deny it.

This is something that ‘Macro Tourist’ on Twitter suggested, where he used the 399 tonnes but used both sets of Turkish gold additions, and got unreported purchases of 280 tonnes (and not 310 tonnes). He says “I have a feeling they made this number up to balance Q3 supply and demand“:

If this is the case, that would explain why the World Gold Council is so eager to taken on board all the ‘suggestions’ of Metals Focus as regards estimates of unreported buying, since the WGC has even revised it’s 2022 full year estimate for central bank gold purchases, saying that:

We can’t rule out further unreported buying so have revised our forecast higher for FY 2022.”  (page 3 of the report)

Conclusion

So what are we to make of the fact that more than three-quarters of the claimed central bank gold purchases have been estimated by Metals Focus due to Metals Focus saying that they are ‘unreported purchases’? Because if they are unreported, how does Metals Focus know about the purchases, but no one else knows? Did they overhear it down the pub in the City of London where the gold traders hang out? And who were the sellers? Because for every buyer, there’s a seller.

At the end of the day, it’s very unscientific and un-transparent of Metals Focus and the World Gold Council to expect people to just consume these claims, and unprofessional of Bloomberg, Reuters and others to run with the number without doing their own investigations. 

The main question really is, why does the Gold Establishment not want a light shone on the central bank gold world and why are they protecting the secrecy. Equally, why do the large financial media organisations such as Bloomberg, never want to investigate the central bank gold market. If this was the international oil market, they’d be all over OPEC and the producers and the industry with a huge number of reporters and journalists doing an extensive investigation.

Could it be that none of them want to rock the boat and irritate the central banks so they never look to investigate the central bank gold market?   

On it’s website, the World Gold Council claims that it’s people are “the global experts on gold”, as well as “the authority on gold”, and some of the Council’s stated aims are to “facilitate greater market efficiency”, and “improve trust”.

For example, the WGC says:

Trust is earned when words and actions meet. In conjunction with our members and other market participants, we build confidence in the gold market by creating and upholding standards for transparency and integrity across the gold value chain.”

But how can publishing an opaque figure of 310 tonnes of unreported central bank gold buying be in any way “upholding standards for transparency”? It’s not.

On it’s website, Metals Focus claims to be:

dedicated to providing world-class statistics, analysis and forecasts to the global precious metals market.

Except that these world-class statistics and analyses don’t extend to explaining how Metals Focus came up with the massive figure of 310 tonnes of central bank gold demand during Q3. The figure was just quietly slipped into the “largest single quarter of demand from this sector since records began” back in 2000.

On Bloomberg’s official London headquarters website, there is a quote from founder Michael Bloomberg stating that:

This building is designed to encourage cooperation and collaboration, and that’s what makes for a successful business.

Sadly, when it comes to the central bank gold market, Bloomberg, in not encouraging cooperation and collaboration in devoting some of it’s massive resources to establishing facts and investigating sources, but is instead running with unverified data.

But maybe that’s what they want. To protect central bank secrecy in the gold market instead of exposing it.

This article was originally published on the BullionStar.com website under the same title “Gold Establishment Supports Central Bank Secrecy instead of Exposing it“.

 

Tyler Durden
Wed, 11/09/2022 – 06:30

FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears To Be Rapidly Deteriorating

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FedEx Parks Planes, Maersk Cancels Sails: World Trade Appears To Be Rapidly Deteriorating

Economic storm clouds are gathering worldwide as some of the largest shipping companies warn about sliding global trade. US shipper FedEx and Danish shipping giant A.P. Moller-Maersk A/S have been vocal about emerging signs of a global slowdown. Both of these companies are widely seen as a barometer for international trade. 

The latest to warn about weakening economic growth is FedEx CFO Michael Lenz telling an audience Tuesday at the Robert W Baird Global Industrial Conference that the company has reduced flights and parked planes to cut costs in response to soft demand for package delivery. 

Look, we absolutely will realize more of the structural cost savings in the second half of the year. That’s where you get more of the benefits start to roll in principally from — at Express, the flight reductions. 

When you park the aircraft, particularly the older airplanes that we’re packing, you’re deferring a maintenance event, which is a significant expense. While at the same time, you have relatively low ownership costs on those.

So it’s an operationally and financially flexible way to manage capacity there. So as I said, we’re projecting a lower demand outlook for the foreseeable future here.

I don’t have a perfect crystal ball to say what the overall macro environment will be. Don’t have a full year earnings outlook for FY ’23. So I don’t have any specific projection to give you there, but rest assured, as some of these specifics that I was highlighting illustrate, we are fully committed to continuing to take the actions we need for changed expectations of what the operating environment is.”

Lenz provided more details about how many domestic and international flights were reduced: 

We’ve eliminated roughly 8 or 9 international frequencies, about 23 domestic frequencies thus far that were — came into the schedule change we did in October. We’ve got another 8 or 9 domestic frequencies that will go in, in November.

The cost-cutting measures align with the firm’s surprise earnings pre-announcement in mid-September about macroeconomic weakness worldwide. At the time, it said it was withdrawing its fiscal year 2023 earnings forecast. 

FedEx CEO Raj Subramaniam then went on CNBC’s Jim Cramer’s evening show and warned Wall Street analysts and investors about a global slowdown, indicating a global recession was ahead. 

And it’s not FedEx. Maersk, the world’s largest owner of container ships, lowered its outlook for the growth of 2022 global container demand, forecasting 2023 could be worse. There are even reports that the company is canceling sails. 

“There are plenty of dark clouds on the horizon,” the company wrote in its latest earnings report, adding, “this weighs on consumer purchasing power which in turn impacts global transportation and logistics demand.”

The latest from the IMF’s World Economic Outlook and World Bank’s Economic Prospects is a downshift in global economic growth with high inflation, i.e., stagflation. 

Then the UN Conference on Trade and Development warned global central banks are hiking interest rates too aggressively, which could trigger an economic crisis. 

Keep an eye on JP Morgan’s consolidated global manufacturing PMIs that just went into a contraction. 

All the rate hikes by global central banks this year have a 9-12 month lag before hitting world trade. So this all may indicate 2023 could be a disastrous year for the global economy. 

Tyler Durden
Wed, 11/09/2022 – 05:45

German Politicians Move To Block Musk From Restoring Free Speech Protections On Twitter

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German Politicians Move To Block Musk From Restoring Free Speech Protections On Twitter

Authored by Jonathan Turley,

We have been discussing how Hillary Clinton and other Democratic leaders have turned from private censorship to good old-fashioned state censorship. They have called upon their counterparts in England, France, and Germany to prevent the restoration of free speech protections with censorship laws — laws that would be unconstitutional in the United States. The British have already responded to such urgent calls and New Zealand Prime Minister Jacinda Ardern who recently repeated this call for global censorship at the United Nations to the applause of diplomats and media alike.

Now the German left has responded with the the ruling Social Democratic Party of Germany (SPD) calling for censorship before, to use Clinton’s words, “it is too late” and free speech is stored on Twitter.

According to a report by the business newspaper Handelsblatt, SPD members are concerned that Twitter will now allow too much free speech and curtail Twitter’s massive censorship system. Jens Zimmermann MP declared

“The Federal Office of Justice must therefore take Twitter under stricter supervision and act quickly and decisively in the event of violations.” The Germans are threatening not just the company but Musk himself if he does not censor viewpoints: If Twitter does not meet the requirements, there are penalties not only against the company, but also against the managers responsible.”

Clinton and other Democratic leaders are singing to the choir on censorship. Germany has long been one of the most hostile countries to free speech in the West.

Germany has proven the fallacy of changing minds through threatened prosecution.  While I am certainly sympathetic to the Germans in seeking to end the scourge of fascism, I have long been a critic of the German laws prohibiting certain symbols and phrases. I view it as not just a violation of free speech but a futile effort to stamp but extremism by barring certain symbols. Instead, extremists have rallied around an underground culture and embraced symbols that closely resemble those banned by the government. I fail to see how arresting a man for a Hitler ringtone is achieving a meaningful level of deterrence, even if you ignore the free speech implications.

We discussed how Germany is extending its criminalization of speech to the Internet.  Germany imposed a legal regime that would allow fining social networks such as Facebook up to 500,000 euros ($522,000) for each day the platform leaves a “fake news” story up without deleting it. YouTube was fined by the country to forcing the company to remove views that the government considers disinformation on Covid

None of this, mind you, has put a dent in the ranks of actual fascists and haters. Neo-Nazis are holding huge rallies by adopting new symbols and coded words while Germany arrested a man on a train because he had a Hitler ring tone on his phone.

The impact of these laws was evident in a recent poll of German citizens. Only 18% of Germans feel free to express their opinions in public. 59% of Germans did not even feel free expressing themselves in private among friends. And just 17% felt free to express themselves on the Internet.

Tyler Durden
Wed, 11/09/2022 – 03:30

British Nuclear Submarine Catches Fire During “Top Secret Mission” In North Atlantic

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British Nuclear Submarine Catches Fire During “Top Secret Mission” In North Atlantic

A British nuclear-powered submarine carrying two Trident II ballistic missiles was forced to abort a “top secret mission” in the North Atlantic after a fire broke out, reported The Sun.

Somewhere, deep in the North Atlantic, the HMS Victorious, a Vanguard-class nuclear submarine, was conducting a classified mission when an electrical fire erupted. All 130-plus crew were involved in containing the fire, which forced the captain to declare an “emergency.” 

HMS Victorious had to quickly surface as the vessel was filling up with toxic fumes. Once the 16,000-ton sub reached the surface, hatches were opened to let out the smoke.

After a damage assessment by the captain, the decision was made to return the 30-year-old vessel to the naval base at HMNB Clyde in Faslane, Scotland.

A Navy source reportedly told The Sun that “every seagoing member of the Royal Navy is a qualified fire-fighter,” and the fire was quickly extinguished. 

A Royal Navy spokesman said: “The continuous at-sea deterrent is unaffected, but we do not comment on the detail of submarine operations.”

There was no further explanation about what caused the electrical blaze or the extent of the damage.

Tyler Durden
Wed, 11/09/2022 – 02:45

UK’s NHS Hires US ‘Spy-Tech’ Firm Palantir To Extract Patient Data Without Patient Consent

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UK’s NHS Hires US ‘Spy-Tech’ Firm Palantir To Extract Patient Data Without Patient Consent

Authored by Nick Corbishley via NakedCapitalism.com,

Palantir, with intimate ties to defense, intelligence and security industries around the world, is set to play an even larger role in the UK’s crisis-ridden National Health System (NHS).

Last summer, as readers may recall, executives at NHS England — the non-departmental government body that runs the National Health Service in England — came up with an ingenious plan to digitally scrape the general practice data of up to 55 million patients and share it with any private third parties willing to pay for it. NHS England allowed patients to opt out of the scheme; they just didn’t bother telling them about it until three weeks before the deadline, presumably because if they had, millions of patients would have opted out.

When the FT finally broke the story, a scandal erupted. NHS England officials responded by shelving the scheme, saying they needed to focus on reaching out to patients and reassuring them their data is safe. But that hasn’t happened. Instead, they have waited for the scandal to die down before embarking on an even more egregious scheme.

This time it is patient data from UK hospitals that is up for grabs. And patients will have no opt-out option. In fact, without even consulting patients, NHS England has instructed NHS Digital — which will soon be merged with NHS England as part of the UK’s governments accelerated reforms to the NHS’ “tech agenda” — to gather patient data from NHS hospitals and extract it to its data platform, which is based on Palantir’s Foundry enterprise data management platform.

The pretext for taking such a step is that researching and analyzing patients’ hospital data will help the NHS better understand and tackle the crisis in treatment waiting times resulting from the COVID-19 pandemic. But the result will be yet more private-sector involvement in essential NHS processes. And in this case, the company being involved in those processes is one of the darkest in the tech universe.

A Highly Coveted Prize

The NHS is the world’s seventh largest employer. And it is home to one of the richest repositories of patient data on the planet. “One of the great requirements for health tech is a single health database,” Damindu Jayaweera, head of technology research at UK investment bank Peel Hunt told Investors’ Chronicle. “There are only two places as far as I know that digitise the data of the whole population from birth to death… China and the UK.”

As the FT reported earlier this year, Palantir aspires to become the underlying data operating system for the NHS. To that end, it has already lured two senior NHS managers to its executive suites, including the former chief of artificial intelligence. It now has its sights set on the ultimate prize: a five-year, £360 million contract to manage the personal health data of millions of patients.

Palantir’s latest encroachment into NHS operations came to light thanks to the publication of board paper’s just hours before NHS Digital’s latest board meeting, on November 1. Those papers no longer seem to be accessible so I am relying on a report published on Friday 4 by The Register, a British technology news website, as well as a heavily detailed twitter thread by Phil Booth of MedConfidential, a group campaigning for confidentiality and consent in health and social care.

According to Booth, on page 158 of the board papers NHS England instructs NHS Digital to use Palantir Tech’s Foundry platform to “collect patient-level identifiable [hospital] data pertaining to admission, inpatient, discharge and outpatient activity from acute care settings on a daily basis.”

Following previous data debacles, both the NHS and UK government ministers had pledged that in future any patient data shared for research and analysis purposes would be anonymized. But now they are talking about using “pseudonymized” data, which is completely different. In 2014, the Information Commissioner’s Office (ICO), the UK’s independent regulatory office (national data protection authority) dealing with the Data Protection Act 2018 and the General Data Protection Regulation, said the following about pseudonymized data:

Pseudonymising personal data can reduce the risks to the data subjects and help you meet your data protection obligations.

However, pseudonymisation is effectively only a security measure. It does not change the status of the data as personal data. Recital 26 makes it clear that pseudonymised personal data remains personal data and within the scope of the UK GDPR.

“…Personal data which have undergone pseudonymisation, which could be attributed to a natural person by the use of additional information should be considered to be information on an identifiable natural person…”

In other words, says Booth, “while NHS England may want to ignore people’s opt-outs from Research & Planning uses, and contorts itself to say their data’s not ‘confidential patient information’, the law(s) says otherwise.”

There are also serious questions about who exactly will be doing the pseudonymisation, and who will hold the keys, says Booth: “There’s a world of difference between an independent statutory Safe Haven (i.e. NHS Digital), NHS England which wants ALL the data to use for whatever it wants, and Palantir.”

A Dark Company

Named after the “seeing stones” used in The Lord of the Rings, Palantir was set up in 2003 with seed money from the CIA’s venture capital arm, In-Q-Tel (IQT). It is one of the darkest companies in the tech sphere. While it is making significant inroads in the corporate world, its main line of business is to provide data-mining technology to support US military operations, mass surveillance, and predictive policing. Its technology is also used by ICE to identify illegal migrants before detaining and deporting them.

When, in 2018, thousands of Google employees refused to participate in Project Maven, a secret Pentagon-funded AI pilot program aimed at the unmanned operation of aerial vehicles, the project was taken up by Palantir. Critics warn that the technology could pave the way to autonomous weapons that decide who to target without human input. In February 2021, Palantir’s chief operating officer boasted to investors that Palantir was driving towards being “inside of every missile, inside of every drone.”

This is a company that deals in death on a daily basis but is also rapidly building a stake in the health and life services sector. During the early months of the pandemic it was one of a number of companies chosen to help collect, store, process and share data for the United States Department of Health and Human Services (HHS) — a project that the Electronic Frontier Foundation (EFF) warned poses “a grave threat to the data privacy of all Americans.”

On the other side of the pond, the UK Government signed a deal in March 2020 with an assortment of private tech firms, including Palantir, to help run the NHS’s massive COVID-19 “data store”. It was supposed to be a short-term arrangement but in December of the same year the Department of Health and Social Care awarded Palantir an additional two-year contract, worth up to £23 million, to help run the NHS’ massive database.

Palantir’s gathering takeover of NHS data services has met strong resistance. In September 2021, the UK’s Department for Health and Social Care was forced to terminate a contract with Palantir over the management of social care data, following a massive protest campaign involving more than 50 groups. The move was taken as a tentative sign that the UK government may finally be pivoting away from using Palantir’s services, at least in the healthcare sector. That is clearly not the case.

But even if the UK government had made that pivot, Palantir had a back-up plan in place, as Bloomberg reported in late September. That plan was laid out by Palantir’s regional head Louis Mosley in a Sept. 24 email entitled “Buying our way in…!”, and it essentially involved “hoovering up” small businesses serving the NHS to “take a lot of ground and take down a lot of political resistance.”

As Cory Doctorow notes in his excellent post last month, How Palantir Will Steal the NHS, Palantir has essentially unfettered access to the capital markets, as well as the deep pockets of its founder, the “cartoon villain” Peter Thiel. While it is clear that good data management has a crucial role to play in the future of health and social care provision, Palantir’s unshakeable commitment to proprietary, secretive software development methodologies makes it woefully ill-suited for NHS service provision:

Compare the NHS to Ben Goldacre’s landmark “Better, broader, safer: using health data for research and analysis”:

https://www.gov.uk/government/publications/better-broader-safer-using-h…

Goldacre argues that the only way to unlock the medical insights in aggregate NHS patient data is with public software: an open and free “trusted research platform” that anyone can audit and verify.

While the code for this platform would be public, NHS patient data would never leave it. Instead, researchers who wanted to investigate hypotheses about the effectiveness of different interventions would send queries to the platform and get results back — without ever touching the data.

This is a system that only works if it’s hosted by democratically accountable public services — not by private actors accountable to their shareholders, and certainly not secretive companies whose primary expertise is in helping spy agencies conduct mass surveillance.

As Doctorow notes, most people in the UK do not want the NHS to be privatised. For them the NHS, founded in 1948 on the principles of free and equal access to medical treatment, is sacrosanct:

But while the British people oppose privatisation, the British investor class are slavering for it. Oligarchs love to loot public services, which is why the IMF is so adamant that the countries it “helps” sell off their public water, housing, even their roads and schools and museums…

[The NHS] has been subject to the death of a thousand literal cuts, as Tories and Labour alike have starved it of resources. More importantly, both parties have turned ever-larger chunks of the NHS over to private-sector looters who have taken over hospitals, services, record-keeping and more.

An Even Bigger Picture

But this is not just about the NHS. It is about our governments’ role as guardians of our most precious data, including our health and biometric information. As governments, central banks and global corporations trip over each other to rush into existence digital identity programs and central bank digital currencies, that role is set to grow exponentially (unless, of course, we can stop them in their tracks).

In the new digital age that is rapidly forming around us, citizens will be custodians of our own data. We will be the ones who get to decide which parts of our data get shared and with whom. At least that is what we are being told. But these are just words, and words can be hollow.

We have to judge our governments on their actions. And their actions to date — including NHS England’s decision to grant custodianship of NHS patients’ hospital data to Palantir without even informing patients, the US State Department’s decision to give intelligence and law enforcement agencies unfettered access to more than 145 million Americans’ personal data, and the US government’s plans to share the biometric data of its citizens with dozens of other governments — speak of a whole different reality.

Tyler Durden
Wed, 11/09/2022 – 02:00

Why Society Needs Conspiracy Theories & Conspiracy Theorists

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Why Society Needs Conspiracy Theories & Conspiracy Theorists

Authored by Dan Fournier via Substack,

“So do not be afraid of them, for there is nothing concealed that will not be disclosed, or hidden that will not be made known.”

– Matthew 10:26

As this will be a comprehensive article, I’ve decided to split it up into the following sections:

  • Introduction

  • How did the term come about & become a tool for defamation?

  • A German journalist spills the beans

  • Same Playbook, Different War

  • The Council on Foreign Relations conspiracy

  • Conspiracy Theories that turned out to be true

  • Notable Unresolved Conspiracies

  • Conspiracies to Watch

  • Mini-Guide to Investigating Conspiracies

  • Conclusion

Wernher von Braun walking along the lunar surface on an Apollo set replica during the Atlanta Southeastern Fair, September 5, 1969, credited to United Press International (UPI), image source

Introduction

It seems like you can’t catch a news headline or social media post these days without coming across the terms conspiracy theory and conspiracy theorist, or phrases like ‘spreading conspiracies’. One has to wonder: why are they so frequently employed?

In my most recent published work, I referenced an article from Canada’s National Post which ran with the headline ‘CBSA says it’s investigating border officer spreading COVID conspiracies online.’

The problem with these kinds of articles is that they are too often merely used as hit pieces to ridicule, degrade, and discredit any individual or group that goes against a certain narrative or disagrees with an author’s (or their publication’s partisanship or funders’) views.

Moreover, their authors very seldom make specific references or claims as to why they label their targets when using such over-used and over-abused disparaging rhetoric. When this is the case, it leads me to believe that the overall purpose of their pieces is to disparage their targets more than anything else.

Another recent example of this involves that from the article entitled ‘Network of Syria conspiracy theorists identified – study’ written by Mark Townsend from The Guardian (UK). In the article, the author claimed “journalist Aaron Maté at the Grayzone is said by the report to have overtaken Beeley as the most prolific spreader of disinformation among the 28 conspiracy theorists identified.” Maté had to refute the claim made against him which also involved contacting Townsend by phone. His counter article and the phone conversation appear on his Substack page (see ‘NATO-backed network of Syria dirty war propagandists identified)’ and is definitely an interesting case on how these ploys take place.

Countless other instances could be cited, but suffice it to say that there is no shortage of them.

But what is perhaps even more laughable with this phenomenon is the fact that these authors wantonly use these terms without even knowing their true meanings and where they actually originate from.

Before looking into these, though, we must first and foremost examine the meaning of the word ‘conspiracy’ itself. Oxford defines it as:

a secret plan by a group of people to do something harmful or illegal

Conspiracies have been an integral part of humanity ever since people have bonded together in groups for a better chance at survival.

Lord knows that history is riddled with an abundant supply of conspiracies and we will look at some notable examples later on.

How did the term come about & become a tool for defamation?

Though the term ‘conspiracy theorist’ itself dates as far back as the 19th century, it became much more prominent in the years following the assassination of U.S. President John F. Kennedy.

Moreover, it’s really in the 1960s where it became more abundant and has taken on a negative connotation. This is in large part because of the Central Intelligence Agency (CIA) of the United States of America.

The usage of ‘conspiracy theorist’ was principally brought about to discredit any person or outfit that questioned the findings of the Warren Commission regarding the official narrative of the assassination of U.S. President John F. Kennedy.

The assassination of U.S. President John F. Kennedy on November 22, 1963. Image source: https://allthatsinteresting.com/famous-assassinations

As to not be labelled a conspiracy theorist myself, here is some tangible evidence to support my claim that the CIA has been complicit with regards to the usage of the term as a means to disparage and discredit individuals with opposing views to an official narrative. An official DISPATCH (document number 1035-60) dated January 1, 1967 which was declassified and released following a FOIA request got published on the Mary Ferrell Foundation (MFF) website – one which contains nearly 2 million pages of documents, government reports, as well as other materials. The first page of the dispatch appears as follows:

COUNTERING CRITICISM OF THE WARREN REPORT, NARA Record Number: 104-10009-10022 from the Mary Ferrell Foundation, Dispatch 1035-960, Source: https://www.maryferrell.org/showDoc.html?docId=53510#relPageId=2

Firstly, we can notice the term ‘PSYCH’ in the upper-left hand corner of the document which indicates that this relates to Psychological Operations. We can see from the first paragraph that their main concern is about speculation regarding the assassination of President Kennedy and how various writers are questioning the findings of the Warren Commission report. The end of section 2 on the first page states:

The aim of this dispatch is to provide material for countering and discrediting the claims of the conspiracy theorists, …”

Scrolling down to the second page under section 3 a. appears the following [emphasis added]:

To discuss the publicity problem with liaison and friendly elite contacts (especially politicians and editors), pointing out that the Warren Commission made as thorough an investigation as humanly possible, that the charges of the critics are without serious foundation, and that further speculative discussion only plays into the hand of the opposition. Point out also that parts of the conspiracy talk appear to be deliberately generated by Communist propagandists. Urge them to use their influence to discourage unfounded and irresponsible speculation.”

And shortly after under section 3 b., it continues:

“To employ propaganda assets to answer and refute the attacks of the critics. Book reviews and feature articles are particularly appropriate for this purpose.”

So, there you have it in black and white. The CIA specifically directs the use of their elite contacts which include politicians and editors – presumably of major newspapers and most likely of major broadcasters. Tactics suggested include writing feature articles (to counter the official narrative), writing book reviews – presumably negative ones, and further labelling dissenters as ‘Communist propagandists’ – a term that had much more of an accentuated defamatory effect back then than it does today.

This raises the obvious question of why the CIA was so seriously concerned about media coverage with regards to the assassination. What’s it to them? Did they have something hide? Where they pressed to do so by the Lyndon Johnson administration? If so, why?

To dig deeper about what they actually stated in their dispatch, we can ask: who are these “elite contacts” and “propaganda assets” they are referring to?

American investigative journalist and author Carl Bernstein – famous for his work with Bob Woodward on the Watergate scandal – wrote a rather extensive (25,000-word) exposé entitled ‘THE CIA AND THE MEDIA: How Americas Most Powerful News Media Worked Hand in Glove with the Central Intelligence Agency and Why the Church Committee Covered It Up’ that was published in Rolling Stone magazine on October 20, 1977, just over a decade after the infamous CIA dispatch was issued. Early on in the mammoth article, Bernstein lists categories in which the Agency (the CIA) partnered with journalists and the press. Two such instances appear as follows:

“- Editors, publishers and broadcast network executives. The CIAs relationship with most news executives differed fundamentally from those with working reporters and stringers, who were much more subject to direction from the Agency. A few executives—Arthur Hays Sulzberger of the New York Times among them—signed secrecy agreements.”

“- Columnists and commentators. There are perhaps a dozen well known columnists and broadcast commentators whose relationships with the CIA go far beyond those normally maintained between reporters and their sources. They are referred to at the Agency as “known assets” and can be counted on to perform a variety of undercover tasks; they are considered receptive to the Agency’s point of view on various subjects. Three of the most widely read columnists who maintained such ties with the Agency are C.L. Sulzberger of the New York Times, Joseph Alsop, and the late Stewart Alsop, whose column appeared in the New York Herald‑Tribune, the Saturday Evening Post and Newsweek. CIA files contain reports of specific tasks all three undertook.”

The CIA specifically refers to these widely read columnists as “known assets” they can count upon to perform undercover tasks. They also maintain ‘signed secrecy agreements’ with executives from the New York Times. Lovely!

Bernstein then lists many well-known newspapers, magazines, and broadcasters used by the CIA and notes their most cherished ones as follows [emphasis added]:

“By far the most valuable of these associations, according to CIA officials, have been with the New York TimesCBS and Time Inc.

Still today, these three media outlets are giants in the publishing, broadcasting, and entertainment industries. And who really knows the extent to which the CIA and other US government agencies still maintain relationships with their editorial and journalistic staff, and possibly many others in the United States and across the world. It would certainly come as no surprise if they did.

War – and how it is covered by media – is a major recurring theme in all of this and it is no secret that the CIA has left its dirty footprints over many of them since its inception in 1947. This has been highly documented and revealed by whistleblower Kevin Shipp, a former CIA officer, intelligence and counter terrorism expert who held several high-level positions in the organization.

Finally, the CIA’s reach beyond American borders goes without saying.

A German journalist spills the beans

“I was bribed by billionaires. I was bribed by the Americans not to report exactly the truth,” stated Udo Ulfkotte back in a 2014 interview with RT (original report); the late editor and journalist of Germany’s Frankfurter Allgemeine Zeitung was quite outspoken in this particular interview.

Screenshot of the 2014 RT interview with German journalist Udo Ulfkotte

Ulfkotte explained how the CIA and other US agencies bought journalists across all major German newspapers. He starts the interview with the following revelation [emphasis added]:

“I’ve been a journalist for about 25 years. And I was educated to lie, to betray, and not to tell the truth to the public. But, seeing right now within the last months how the German and American media tries to bring war to the people in Europe, to bring war to Russia. This is a point of no return and I’m going to stand up and say it is not right what I have done in the past, to manipulate people, to make propaganda against Russia, and it is not right what my colleagues do and have done in the past because they are bribed to betray the people, not only in Germany, all over Europe.”

It’s funny how you could almost replace this assertion (from back in 2014) in the context of today’s 2022 Russia-Ukraine war, or as some would call it, a proxy war between NATO/Western Europe/United States and Russia.

He continued:

I was supported by the Central Intelligence Agency, the CIA. Why? Because I should be pro- American. I’m fed up with it. I don’t want to do it anymore.”

‘Non-official cover’ is a term the German journalist used to describe how he (and other journalists) were essentially working for or helping the intelligence agency, though not in an official capacity, conveniently leaving room for plausible deniability.

Ulfkotte goes on to explain how the journalists are rewarded by the CIA.

Statements like these really makes one wonder about the extent to which media outlets all around the world have been infiltrated not only by the CIA, but also by other powerful entities.

But wait, Ulfkotte dives deeper into other supranational influences that help shape media organizations and their prevailing narratives [emphasis added]:

“We are still kind of a colony of the Americans. And being a colony, it is very easy to approach young journalists through, what is very important here is, transatlantic organizations. All journalists from really respected and recommended big German newspapers, magazines, radio stations, TV stations, they are all members or guests of those big transatlantic organizations. And in these transatlantic organizations, you are approached to be pro-American.”

Ulfkotte then emphasizes that this phenomenon is even more the case with British journalists due to their special relationship with the US, and the French, to a lesser extent.

One need not look far to see what he is talking about with regards to these transatlantic organizations than observe the writings and actions of outfits such as the Council on Foreign Relations and the Atlantic Council think tank, both focused on American imperialism and interests. While the later is essentially a mouthpiece for NATO, the former holds an unfathomable grasp on Western media.

Examining the historical and current membership into the Council on Foreign Relations is quite revealing, to say the least. Or, perhaps more fittingly: the elephant in the room. Moreover, the think tank holds tremendous influence through its network of elites and media pundits who are central in shaping U.S. foreign policy and public discourse.

Back in 2017, an infographic emerged showing the extent of this network and how it possibly ties to the Bilderberger Group and the Trilateral Commission:

Infographic showing the network of members of the CFR, full-resolution image: https://swprs.files.wordpress.com/2017/08/cfr-media-network-hdv-spr.png

Comparing current members with past ones, we can easily validate the authenticity of this elitist ilk and deduce that it is highly organized, highly interconnected, and what amounts to a highly influential network of thought leaders & shapers.

Another infographic from Swiss Policy Research – an independent, nonpartisan and non-profit research group investigating geopolitical propaganda – shows the transatlantic network the German media is subject to:

Swiss Policy Research – Media in Germany: The transatlantic network, full-resolution image: https://i0.wp.com/swprs.org/wp-content/uploads/2022/04/netzwerk-medien-deutschland-spr-mt.png?ssl=1

The data contained in these infographics validates German journalist Udo Ulfkotte’s claims to this effect.

The infiltration of media, be it by the CIA, other intelligence agencies, or think-tanks such as the Council on Foreign Relations or the Atlantic Council, is unmistakably a conspiracy in that their stealthily coordinated efforts control narratives the masses, including government officials, are exposed to on a daily basis.

Same Playbook, Different War

With the current war in the Ukraine, we can easily notice how the stances held by these transatlantic institutions are mostly one-sided. Here’s a recent tweet from the Atlantic Council regarding the 2022 Russia-Ukraine war:

Tweet from the Atlantic Council, Sept. 15, 2022, Source

The related article begins [emphasis added]:

“Ukraine’s stunning counteroffensive success in the Kharkiv region has provided conclusive proof that the Ukrainian Armed Forces are more than capable of defeating Russia on the battlefield. Now is the time to end the war by providing Ukraine with everything necessary to consolidate these gains and secure a decisive victory.

“Victory requires a coordinated, multifaceted, and long-term approach with economic, diplomatic, humanitarian, and logistical support all needed in order to bolster the Ukrainian transition to NATO-standard weaponry. Above all, this means a full commitment by Ukraine’s partners to increase arms supplies to the country.

As you can see, they don’t hide which side they are representing while blatantly calling for NATO and partners to increase arms supplies and weaponry. Accordingly, if this is not an advertisement to further bolster the Military/Security Complex’s coffers, then I don’t know what else to say. That would be for another article altogether that would require its own investigation.

Another recent tweet and article written by the CFR’s own President, Richard Haass, a Rhodes Scholar, from the Council on Foreign Relations rings the same bell:

Tweet from the Council on Foreign Relations, also from Sept. 15, 2022, Source

In it, the CFR President states [emphasis added]:

“The West, for its part, should continue to provide Ukraine with the quality and quantity of military and economic support it requires. There are strong strategic reasons for doing so, including to deter future aggression by Russia, China, or anyone else.”

The only difference is that this one makes a specific reference to China – the current frontrunner to be the next boogeyman-du-jour in our Orwellian perpetual state of war which assures gargantuan profits for the Military/Security Complex. But again, I digress, for this is yet for another behemoth of an article that would require an entire team of reporters.

The extent to which this war has also been propagated on social media is, in itself, a whole other can of worms. Armies of bots, pundits and propagandists (from both sides of the conflict) along with the divided masses all contribute to the digital fog of war in the halls, hyperbolic and echo chambers of platforms such as Twitter, Facebook, Instagram, and YouTube.

The Council on Foreign Relations conspiracy

In a book aptly titled ‘None Dare Call It Conspiracy’ by Gary Allen and Larry Abraham published in 1971, the first paragraph of the introduction – written by former U.S. congressman John G. Schmitz reads as follows:

“The story you are about to read is true. The names have not been changed to protect the guilty. This book may have the effect of changing your life. After reading this book you will never look at national and world events in the same way again.”

I feel the same way, though I would also highly recommend the book The Creature from Jekyll Island: A Second Look at the Federal Reserve by G. Edward Griffin which focuses on the secretive events that lead to the formation of the private corporation knowns as the US Federal Reserve which has also changed the way I personally view the word.

Griffin holds the distinguished honorary title of Conspiracy Theorist by the editors of Wikipedia and others. So, he must be doing something right. His claims about how the North American medical establishment essentially got usurped by billionaire interests certainly added credence to this title.

Speaking of billionaires, a few passages from the book ‘None Dare Call It Conspiracy’ really stand out:

“The American subsidiary of this conspiracy is called the Council on Foreign Relations and was started by and is still controlled by Leftist international bankers.”

“According to his grandson John, Jacob Schiff (above), long-time associate of the Rothschilds, financed the Communist Revolution in Russia to the tune of $20 million. According to a report on file with the State Department, his firm, Kuhn loeb and Co. bankrolled the first five year plan for Stalin. Schiff’s partner and relative, Paul Warburg, engineered the establishment of the Federal Reserve System while on the Kuhn Loeb payroll. Schiff’s descendants are active in the Council on Foreign Relations today.”

And under an old photograph of a building in New York city appears [emphasis added]:

“Home of the Council on Foreign Relations on 68th St. in New York The admitted goal of the CFR is to abolish the Constitution and replace our ones [sic] independent Republic with a World Government. CFR members have controlled, the last six administrations. Richard Nixon has been a member and has appointed at least 100 CFR members to high positions in his administration.”

And later on in the book:

“The C.F.R. has come to be known as “The Establishment,” “the invisible government” and “the Rockefeller foreign office.” This semi-secret organization unquestionably has become the most influential group in America.”

It’s most interesting to see how these billionaire actors also coincidentally have had a hand in the formation of the U.S. Federal Reserve. Perhaps, G. Edward Griffin was onto something after all.

A more recent (1988) book provides similar allegations with regards to the CFR by providing a deep dive into the historical roots, connections, and linkages to the war machine of the notorious organization. Its title is ‘The Shadows of Power: The Council on Foreign Relations And The American Decline’ by author James Perloff.

I will leave it up to the reader to investigate more into this alleged conspiracy, for such an endeavor demands significant time, scrutiny, and attention.

Conspiracy Theories that turned out to be true

Though many conspiracies have been proven true over the years, I will merely showcase a few which relate to two recurring themes of this article, namely that of war and media corruption.

Operation Mockingbird, 1950s+

In light of the revelations listed earlier in this article, it is perhaps most fitting that we exhibit this particular proven conspiracy, for its overarching implications run far and wide – even in 2022 and beyond.

In a nutshell, Operation Mockingbird was a large-scale clandestine program of the U.S. Central Intelligence Agency (CIA) to manipulate news media for propaganda purposes.

According to The Black Vault – an online archive that houses over 3 million pages of government documents, Operation Mockingbird was said to be initially organized by Cord Meyer and Allen W. Dulles, later led by Frank Wisner after Dulles became the head of the CIA; and the organization recruited leading American journalists into a network to help present the CIA’s views, including worked to influence foreign media and political campaigns.

In 1974, The New York Times had published an article by investigative journalist Seymour Hirsh who claimed that the CIA had violated its charter

In the mid-1970s, the U.S. Congress had become concerned over abuses of the CIA, NSA, and FBI and called a committee (the Church Committee) to look over it.

As per Everipedia, the final report of the Church Committee covered CIA ties with both foreign and domestic news media. Specifically with regards to the foreign news media, the report concluded that:

“The CIA currently maintains a network of several hundred foreign individuals around the world who provide intelligence for the CIA and at times attempt to influence opinion through the use of covert propaganda. These individuals provide the CIA with direct access to a large number of newspapers and periodicals, scores of press services and news agencies, radio and television stations, commercial book publishers, and other foreign media outlets.”

And for domestic media, the report emphasizes the following:

“Approximately 50 of the [Agency] assets are individual American journalists or employees of U.S. media organizations. Of these, fewer than half are “accredited” by U.S. media organizations … The remaining individuals are non-accredited freelance contributors and media representatives abroad … More than a dozen United States news organizations and commercial publishing houses formerly provided cover for CIA agents abroad. A few of these organizations were unaware that they provided this cover.”

Apart from the staggering revelations outlined in the two passages above, the term ‘cover’ is of particular interest. German journalist Udo Ulfkotte, mentioned earlier in this article, stated that him and other fellow German journalists were basically operating as ‘non-official cover’, or in a ‘non-official capacity’ for the CIA. In other words, the CIA employed this pretext to cloak itself and adduce plausible deniability.

Looking at the headlines and overt propaganda coming out of the European mainstream press over the last several years leaves us with little doubt that this operation (or a new version of it) is still alive and kicking.

Operation Northwoods (re Cuban Missile Crisis) in 1962

Operation Northwoods was a proposed ‘false flag’ (i.e., a covert/secretive plot intended to deceive) operation against Cuba originating from the U.S. Dept. of Defense calling upon the CIA and other U.S. government operatives to commit acts of terrorism against American civilians and military targets in Guantanamo (Cuba) and blame them on the Cuban government which would serve as a justification for war against the Caribbean island nation.

The gist of the proposed operation was to hoodwink President John F. Kennedy to declare war against Cuba in the midst of the Cuban Missile Crisis.

For those with a penchant for gripping movie dramas, the 2000 movie Thirteen Days starring Kevin Costner and Bruce Greenwood (as President Kennedy) serves as an absorbing illustration in which the Democrat president was placed in a mental crucible and tested to his limits.

The declassified document (memorandum for the Secretary of Defense) from 13 March 1962 titled ‘Justification for US Military Intervention in Cuba (TS)’ lays it bare for all to see.

Documentarians Aaron and Melissa Dykes produced a top-notch work on this planned conspiracy.

There are many reasons why I like Truthstream Media’s documentaries. Not only do they produce extremely well-researched works, but they also present them in a clear manner; and sometimes, such as with this particular work, they offer advice to their viewers on how to better educate themselves about world events. Near the start of this documentary, Melissa Dykes states [emphasis added]:

“We thought we would look at this document for Operation Northwoods, it was declassified, because the problem with people forgetting history or failing to research history or failing to look into history is they forget these things ever happened. And history continues to repeat and people act like they have no idea why.

On that, I have to totally agree with Melissa Dykes. In today’s fast-pace society, people are more inclined to play with TikTok on their phones or watch movies than to read books – especially those related to history. It’s one of the main factors that has led to the lack of critical thought and discernment in society.

Simple explanation of a ‘false flag’ operation. Source: https://www.falseflag.info/about/

Gulf of Tonkin Incident (Vietnam), 1964

Everipedia – a blockchain-based online encyclopedia (a better source of information than Wikipedia, in my opinion) prefaces the incident as follows [emphasis added]:

“The Gulf of Tonkin incident (Vietnamese: Sự kiện Vịnh Bắc Bộ), also known as the Maddox, was an international confrontation that led to the United States engaging more directly in the Vietnam War. It involved one real and one falsely claimed confrontation between ships of North Vietnam and the United States in the waters of the Gulf of Tonkin. The original American report blamed North Vietnam for both incidents, but the Pentagon Papers, the memoirs of Robert McNamara, and NSA publications from 2005, proved material misrepresentation by the US government to justify a war against Vietnam.

Among all wars fought by Americans, the Vietnam War ranked 4th just after the first two world wars and the U.S. Civil war. It’s economic and human costs epitomized human folly.  

What is equally nefarious is the deceptive means by which this false flag event, or conspiracy, came about.

Notable Unresolved Conspiracies

While there are too many to even contemplate, let us have a look at some of the more controversial ones that still have an impact on society and our way of life.

September 11 attacks

Perhaps one of the biggest and most contentious ones is that of the events that relate to what happened on September 11, 2001.

So much has transpired in the 21 years that have lapsed since the collapse of the World-Trade Center towers in New York City.

Though a formal investigation has been conducted and published on these events, so many unanswered questions remain as to who exactly was behind it.

We often hear some talking about this tragic event insisting that it was an ‘inside job’ (i.e., done by powers within the U.S. Government). And for this, they are immediately labelled conspiracy theorists. Actually, in this rare case I agree with the employment of the defamatory designation. For, with an event as complex as this one, one can readily make such a claim; but to back it up with convincing evidence would require an extraordinary enterprise.

What is perhaps more useful here, though, would be to ask anew some of the most important and unaddressed questions relating to this event. For these questions which are listed below, links are provided for additional context/reference. A good refresher video (WTC7 and 9/11 Truth 14 Years Later: “People Still Want the Truth”) was published by documentarians of Truthstream Media.

  • How is it possible that WTC Tower 7, the 47-story building which was only affected by minor fires, collapse straight down in a free fall defying known laws of physics?

  • Why was the collapse of WTC Tower 7 reported by the BBC 20 minutes before it actually came down?

  • How come no large pieces of aircraft wreckage from United Airlines flight 93 were ever found at the alleged crash site in Stonycreek Township (Shanksville), Pennsylvania?

  • How come no large pieces of aircraft wreckage from American Airlines flight 77 were ever found on the ground near the West wall of the Pentagon?

  • Why was all the rubble and steel (evidence) from the site so swiftly collected (over the objections by fire marshals) and shipped overseas?

  • How was the Patriot Act (effective October 26, 2001) – a fairly long and complex legal document – drafted, reviewed, introduced, and enacted in merely 6 weeks?

Of course, there are countless other unanswered questions. Perhaps the grander question is: will there ever be a fuller, more transparent official investigation surrounding these attacks?

Who really killed JFK?

Despite the findings of the Warren Commission, it remains to be solved as to whom exactly assassinated U.S. President John F. Kennedy since it is proven that a single gunman could not have acted alone per the additional evidence confirmed after the commission’s report.

Many intelligence documents remained classified – even after 60 years since this tragic event took place in Dallas, Texas.

Over the years, many have contributed to the investigation that never seems to end. Investigator Jim Garrison was perhaps the most prominent amongst them.

Moon Landing Controversy

Wernher von Braun at the lunar landing scene on an Apollo set replica during the Atlanta Southeastern Fair, credited to United Press International (UPI), image source

The picture above (and the cover picture for this article) may seem as a conspiracy theory in itself, for it is difficult to authenticate and locate the original photograph from UPI. However, it is one that has been properly credited and attributed to the UPI. Accordingly, the cover photograph for this article can be viewed with its original header: 

Image source

And the Jacksonville Daily Journal published the photograph in its September 30, 1960 edition:

Image source

For those unfamiliar with Werner Von Braun, he was a brilliant aerospace engineer – the brains behind the development of the Saturn rockets used in the Apollo launches.

Over the past several decades, there has been a lot of debate regarding many aspects of the moon missions. A tremendous amount of money, blood, sweat, and tears have flowed into the Apollo program and other related projects.

Much pressure had been placed on the U.S. Government to ensure success – especially amidst the backdrop of the Space Race and larger Cold War between the United States and the Soviet Union.

Over the course of this colossal undertaking, it became apparent that some serious problems and challenges needed to be overcome. Many were overcome, but other major problems persisted.

A three and a half hour 2017 documentary entitled American Moon (available on YouTubeBrighteon, and Odysee) outlined many of these problems along with a significant amount of anomalies – particularly in the Apollo moon missions. In the lengthy film, they disprove not only the debunkers (those who disprove the deniers) but also some of the deniers themselves regarding their false or flawed claims.

American Moon is meticulously well documented with original (official) NASA photographs, films, interviews, technical documents, and so forth, and presented in a clear and understandable way for the average Jane or Joe.  

Over 40 extremely well-formulated questions are presented and addressed to NASA itself as well as the greater debunker community. I have yet to locate a source which addresses all these key points; and this, despite nearly five years having elapsed since the documentary film came out.

I certainly invite the reader to spend the three and a half hours to view this film; for, after doing so, you will never see the moon landing in the same light.

I will only cite a few of the key questions that were put forward in this film.

The first one relates to one of the most critical aspects of space flight, namely that of the dangers of radiation that are present beyond our planet, namely the Van Allen radiation belts. The belts protect our planet from harmful radiation originating from the sun and outer space.

Van Allen radiation belts, source: NASA

Here’s a simplified image to get a better idea of the range of these belts from Earth:

Screenshot from American Moon (at the 01:00:20 mark)

The problem, here, as pointed out in the film, is that modern scientists, including NASA Orion engineer Kelly Smith for that matter, have explained that no human could penetrate either of the two (inner & outer) belts without being exposed to high-energy radiation and cosmic rays which would biologically cause serious damage, if not death. In the March 1959 edition of Scientific American, the following was noted:

“The discovery [of the Van Allen radiation belts] is of course troubling to astronauts; somehow the human body will have to be shielded from this radiation, even on a rapid transit through the region.”

More recently, NASA Orion engineer Kelly Smith stated the following when talking about the Van Allen radiation belts [emphasis added]:

“We must solve these challenges before we send people through this region of space.”

In American Moon (around the 01:11:20 mark), NASA astronaut and commander Terry Virts says the following [emphasis added]:

“The plan that NASA has is to built a rocket called SOS which is a heavy-lift rocket; it’s something much bigger than what we have today. And it will be able to launch the Orion capsule with humans on board … to destinations beyond earth orbitRight now, we can only fly in earth orbit. That’s the farthest that we can go. This new system that we’re building is gonna allow us to go beyond and hopefully take humans into the solar system to explore. So, the moon, Mars, asteroids, there’s a lot of destinations that we could go to…”

Further in the film, Apollo 12 astronaut Alan Bean responded the following when asked about whether he had suffered any ill effects from having passed through the Van Allen belts:

“No. Now, I’m not sure we went far enough out to encounter the Van Allen radiation belts. Maybe we did.”

One would think that as a crew member from Apollo 12 – the second mission to land on the moon – he would know about the location and existence of these belts through which he passed through.

Strange.

Very strange.

What is also rather puzzling is the fact that NASA admits they lost the telemetry data related to the Apollo 11 moon mission.

The Chief Flight Director for the Gemini and Apollo programs Gene Krantz (who was portrayed by Ed Harris in the 1995 film Apollo 13) admitted that NASA had lost the original tapes containing the telemetry data (alternate video link here). When asked by documentary filmmaker Aron Ranen about the tapes, Krantz stated the following:

“I haven’t seen anything that indicates the telemetry data is even in existence. And, as I said, even if we had it, we don’t have the machines to play it back.”

Ranen, the creator of the 2005 film Did We Go? then went to NASA’s Goodard Space Center and spoke with archivist Dr. David Williams who further asserted:

“We’ve been unable to track it down. We don’t know where this telemetry data ended up. And we don’t know what path it may have taken. So, unfortunately I’m afraid I can’t give you much of a clue as to where this data ended up and whether it still exists or not.”

So, let’s be clear folks here for a minute. The data that recorded what was perhaps the single most important event in human history has completely disappeared. Really? No backup copies have been made? And it would be “impossible” to re-create machines to play it back on?

Absurd.

While it is certainly possible that these tapes have indeed disappeared, the whole affair is rather questionable and pitiful, to say the least.

The American Moon documentary further outlines anomalies related to the lunar module (LEM), telecommunications (between the earth and the moon), photographs & photography, cameras, videos, shadows, cosmic radiation, extreme temperatures, and more.  

A large part of the documentary focuses on photographs taken and published by NASA. The producer of the documentary hired several top photographers in the world (who worked in the field during that period) to examine and analyze the official photos taken on the surface of the moon.

These photography experts all pointed out many impossibilities found in them.

For the most part, they disproved that the photographs could have been taken on the surface of the moon if the only main source of light was emanating from the Sun; they decisively contend that the photographs were produced on a set with artificial lighting. This segment is presented with meticulous detail and analysis which makes it extremely difficult to refute the assertions from the experts.

A common counter-argument that people have regarding those who claim the moon landings were faked is how could thousands of people be on board with such a hoax without there being any whistleblowers. Firstly, there have been numerous credible whistleblowers who have come out and I will reference one below.

As for the “thousands of employees” conundrum, the answer is quite simple. These thousands of employees would simply not be aware that this subset (i.e., the moon landings) of the Apollo missions were being deceptively presented. This was the case with the Manhattan Project whereby thousands of people worked on the development of the first atomic bomb without knowing about its ultimate goal. The project was carefully structured for secrecy by means of compartmentalization. Put simply, under compartmentalization, people work in their own respective groups (or, compartments) on specific tasks and are not privy to a lot of data or information about the overall project.

Accordingly, it would not have been that difficult to structure the NASA project in such a way.

In an April 12, 2020 confession, Gene Gilmore (born Eugene Reuben Akers), now deceased, appeared in a video (alternate links herehere, and here) disclosed what his father (Cyrus Eugene Akers who was stationed in Cannon Air Force Base in New Mexico in 1968) had previously confessed to him on his death bed.

Mr. Akers senior was in the Military Police for over 20 years and on his death bed in 2002 he made a recording of what he had witnessed.

Gene’s father told him about project ‘Slam Dunk’ whereby there were two large hangars (at the Cannon Air Force Base) that were connected, dump trucks had delivered sand and stone, and cement powder that was applied on top of all that material to make it look like a lunar landscape.

The surprised son continued listening to his father state that in front of the airplane hangars was pull framing with large canvas tents that were concealing the inside of the staging area. Inside the staging area, on flat bed trucks was created the lunar lander that was assembled, reassembled back inside the hangars. All of the walls were painted flat black as were the ceilings.

Cyrus Eugene Akers was sworn to secrecy by the National Security Agency (NSA).

Gene then recalled that when his father saw the moon landing on television, he cried.

He said that what he witnessed on TV is exactly what they recorded in that hangar.

Mr. Akers continued his death bed confession to his son stating that there were 3 guards at the entrance of the hangar and there was a list of 15 people who could enter, no one else was allowed by order of President [Lyndon] Johnson. Gene Gilmore then stated that he had given the list to Bart Sibrel.

Gene Gilmore then enumerates the specific names of list of 15 people who had special access to the hangars which include President Johnson, Neil Armstrong, Edwin [Buzz] Alden, Werner Von Braun, Gene Krantz, James Webb, Dr. James Van Allen, among others.

Gilmore continues on with what his father had confided in him. President Johnson was there only for the first day of filming. The filming lasted for 3 days. And then, everything was dismantled to bring the hangars back to their original states.

Gilmore then states that since 2002, he verified a lot of the information his father had given him – including records from Cannon Air Force base that confirmed the presence of President Johnson and the astronauts at that time as well as the lunar lander. Apparently though, this information was subsequently removed from Cannon’s website.

Lastly, Gene affirms that his father stated had to tell somebody about the incident before he died because it was too important; but he also warned him not to ever tell anybody.

Regarding the authenticity of these testimonies, there is always the possibility that they are not entirely truthful. But people seldom lie during death bed confessions. They usually want to get truth off their chests before they meet their maker. The fact that Gene Gilmore instructed Bart Sibrel to only publish his confession after his death also adds credibility to his testimony.

As recent as Sept. 22, 2022, Lead Stories published a fact check rebuke regarding this confession video. In it, they stated that they had contacted NASA regarding the video and posted their spokesperson’s reply in the article:

“There is a significant amount of evidence to support NASA landed 12 astronauts on the moon from 1969 to 1972. We collected 842 pounds of moon rocks that have been studied by scientists worldwide for decades. From these rocks, we’ve learned that the moon was once part of the Earth, the moon is about 4.5 billion years old, and that most of the moon’s craters are caused by impact, not volcanism.”

Anyone with half a brain could tell that this reply is totally unconvincing. Why mention moon rocks? It’s as if the spokesperson thinks this provides tangible evidence of the moon landings. One would also think that NASA would have come up with a much more thoughtful and convincing argument than the absurdity stated above.

I digress.

The conclusion of the American Moon documentary shows part of the Apollo 11 astronauts post moon mission press conference. They point out that the three astronauts were totally unenthusiastic.

They were there to talk about the single most important feat accomplished by human beings and these men could barely crack a smile or convey their joy and enthusiasm about their monumental achievement. This goes without saying that it is all, indeed and utterly, extremely bizarre.

Moreover, the very apparent levels of stress shown by the astronauts as per their body language at the beginning of the press conference is somewhat mind boggling. Keep in mind that these astronauts are test pilots who have experience handling extremely stressful situations, not to mention having [purportedly] flown an extremely dangerous mission to the moon. So, relatively speaking, simply talking to the public and press about their monumental achievement should not have been so challenging and stressful for these men. Rather, it should have been a cause for celebration and pride. What is the average person to make of this?

American Moon ends with video clips of Bart Sibrel confronting each of the three Apollo 11 astronauts (Neil Armstrong, Buzz Aldrin, and Michael Collins) asking them to swear on the Bible that they walked on the moon. All three men displayed very uncomfortable stances and refused. Sibrel even offered $5,000 in cash to charity should Neil Armstrong agree, but he still refused. Buzz Aldrin actually punched Sibrel in the face when the interrogator persisted in his questioning. Even though Sibrel’s approach wasn’t particularly friendly, it remains odd that none of them agreed to do so.  

As more and more inconsistencies surface regarding the Apollo moon missions along with mounting evidence which contradicts the official narrative, it is probably just a matter of time before NASA becomes obligated to admit what really happened in July of 1969. Undoubtedly, there is a lot at stake.

Will history books need to be re-written?

Time will tell.

Conspiracies to Watch

As practically all of the conspiracies stated below are highly controversial and subjective in nature, I will merely provide a short summary of each along with key links that provide some initial background information – selected specifically to exhibit why they are considered conspiratorial. Ultimately, it is really up to the readers to investigate them and draw their own conclusions as to the authenticity and legitimacy of their respective stated claims.

Climate Change

Though the very hot and contentious issue of ‘Climate Change’, formerly known as ‘Global Warming’, is complex and controversial, we must begin by examining its origins.

Where did this really originate from? When was it first mentioned and put forward as an existential threat?

Former Australian politician Ann Bressington shed a bit of light on the issue in a candid speech about Agenda 21 and the Club of Rome a few years ago. In the speech (alternate link) she stated the following [emphasis added]:

“Ladies and gentlemen, the origins of the environmental movement as we see it began back in 1968 when the Club of Rome was formed. The Club of Rome has been described as a crisis think tank which specialises in crisis creation. The main purpose of this think tank was to formulate a crisis that would unite the world and condition us to the idea of global solutions to local problems. In a document called The First Global Revolution, … it stated: ‘In searching for a new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like would fit the bill.’ …, that’s the origin of global warming ladies and gentlemen.”

Her statement does indeed check out. On page 115 of the 1991 book entitled The First Global Revolution: A Report by the Council of Rome, you can clearly read the passage under the header ‘The Common Enemy of Humanity is Man’ [emphasis added in red]:

Excerpt from page 115 of the book The First Global Revolution: A Report by the Council of Rome

The Club of Rome is still actively involved in activities related to Climate Change. And at first glance it all seems quite legitimate. But the power and influence wielded by its well-connected membership leaves much to be scrutinized.

Moreover, while the above information doesn’t serve as a smoking gun with regards to an alleged conspiracy, it does demonstrate that powerful and deeply connected think tanks (like with the Council on Foreign Relations mentioned earlier in this article) can influence many key players, including heads of state (even former Canadian Prime Minister Pierre Trudeau, father of the current Prime Minister).

Credible scientific evidence contrary to the current climate change narrative does exist, yet very seldom appears in the mainstream press, for it goes against the ascribed (and undebatable) “the science is settled” mantra.

One of these includes the recent (August, 2022) article entitled 1,200 Scientists and Professionals Declare: “There is No Climate Emergency” by The Daily Sceptic which challenges the ‘political fiction’ that humans cause most or all of climate change.

The article also states that the scale to the opposition to the modern-day belief that the ‘science is settled’ [on Climate Change] is remarkable, even amidst the backdrop of academia which barely ever issues grants for climate research that departs from the political orthodoxy. On a side note, a blunt revelation by the co-founder of The Weather Channel John Coleman offered a rather scathing (and highly entertaining) lecture towards Brian Stelter from CNN a few years back in which he stated that there was no real science behind climate change. Now, back to the article of interest from The Daily Sceptic. It makes reference to a declaration by over 1,200 scientists from all around the world who assert that there is no climate emergency. This declaration is formally known as the ‘World Climate Declaration (WCD)’. Here are a few key excerpts:

Climate policy relies on inadequate models

Climate models have many shortcomings and are not remotely plausible as policy tools. They do not only exaggerate the effect of greenhouse gases, they also ignore the fact that enriching the atmosphere with CO2 is beneficial.”

CO2 is plant food, the basis of all life on Earth

CO2 is not a pollutant. It is essential to all life on Earth. More CO2 is favorable for nature, greening our planet. Additional CO2 in the air has promoted growth in global plant biomass. It is also profitable for agriculture, increasing the yields of crops worldwide.”

Global warming has not increased natural disasters

There is no statistical evidence that global warming is intensifying hurricanes, floods, droughts and suchlike natural disasters, or making them more frequent. However, there is ample evidence that CO2mitigation measures are as damaging as they are costly.”

Climate policy must respect scientific and economic realities

There is no climate emergency. Therefore, there is no cause for panic and alarm. We strongly oppose the harmful and unrealistic net-zero CO2 policy proposed for 2050. Go for adaptation instead of mitigation; adaptation works whatever the causes are.”

It should be obvious – even to a grade school student – that C02 is essential for life on earth and for the healthy functioning of our biological ecosystems. But our mainstream media and academia have been bamboozled and overtaken by powerful interest groups (as is the case in many other institutions such as those of finance and government) to pervert reality and propagate absurdities day in and day out. These compromised media outlets prefer to push the half-baked narratives from the likes of Bill Gates rather than invite real scientists that will challenge the ‘settled’ narratives and pundit talking heads.  

To be fairer and more objective though, the onus really is on each and every one of us to properly inform ourselves about issues such as climate change. We should be open to listening to those with opposing views and seek the opinions of independents who are not subsidised or funded by special interest groups or who will somehow benefit in spewing pre-packaged, one-size fits all, narratives.

The origins of SARS-CoV-2 (Covid-19)

No other matter has consumed the collective thought of people from around the world over the last 2+ years than the Covid-19 Pandemic.

Early on during the pandemic, many had contended that the virus was not of natural origin but was rather one that was altered in a lab setting; and after things had gone afoul, the virus was somehow spread out of the biosafety level 4 lab known as the Wuhan Institute of Virology into the public of the Chinese metropolis, and eventually to the entire world. This was in contrast with the original claim that the virus had originated in a wet market in Wuhan whereby the virus had crossed-over to humans from bats.  

Those who made the contention that the virus could have been engineered in a lab were immediately dismissed as conspiracy theorists.

But as more evidence has surfaced regarding a massive coverup by the Chinese government and apparent pre-pandemic linkages between US-funded labs an the Wuhan Institute of Virology, the theory gained traction.

Anthony Fauci who is the Director of the National Institutes of Health (NIH) and the leader in the United States regarding the handling of the Covid-19 Pandemic has repeatedly lied (to US Congress) about and denied that any gain-of-function research (specifically, a bat coronavirus research project by EcoHealth Alliance) had taken place under his US government-funded National Institutes of Health (NIH) lab in Wuhan.

Surfaced letters have shone additional light on the matter demonstrating that funding from NIH to EcoHEalth Alliance did indeed occur.

In addition, a report from The Intercept following a FOIA request produced 900 pages of materials relating to coronavirus research in China.

Furthermore, an email letter from Peter Daszak from EcoHealth Alliance dated April 18, 2020, surfaced whereby Daszak thanked Anthony Fauci, the head of the Covid-19 response team, for his [false] public comments regarding the origins of Covid-19.

News aggregator ZeroHedge ran an article on August 6, 2021 whereby virologist Shi Zhengli (also known as “Bat Lady”) of the Wuhan Institute of Virology – whose lab received US funding to make coronaviruses more infectious to humans – warned that the virus will continue to mutate producing new strains.

Virologist Shi Zhengli (left), also known as “bat lady” photographed with Peter Daszak (right) from EcoHealth Alliance, source: ZeroHedge and DailyMail

China expert Matthew Tye who is fluent in Mandarin Chinese and goes by the YouTube handle Laowhy86 produced a very compelling piece (dated April 1, 2020, now with over 2.4 million views) on the source origins of SARS-CoV-2, even hypothesizing about who patient zero for this virus was; namely, Huang Yan Ling an employee of the infamous lab who went missing, along with her profile from the lab’s website.

The World Health Organization (WHO) who is generously funded by Bill Gates – apart from sovereign nations, he is by far its top donor – is well known to have kowtowed to the Chinese government early on in the pandemic, was eventually compelled to conduct a formal investigation about the origins of the virus.

Using relevant sources, Summit News reported that the WHO’s chief investigator, Ben Embarek (who also surmised that patient zero was likely a lab worker at the Wuhan Institute of Virology) essentially found nothing of material substance in the probe and was only permitted [by the Chinese government] to mention the possibility of a lab leak without being allowed to probe further. All of this, too, after having visited the lab for a period of only 3 hours.

In addition, one might find it particularly inappropriate that Peter Daszak of EcoHealth Alliance was chosen as part of the WHO’s investigatory team since he had previously worked in this same lab and given his obvious conflicts of interest in the matter at hand.

In their defense, it is highly likely that the Chinese government had adequate time to remove any incriminating evidence that could have pointed to the gain of function research about coronaviruses and the inherent lab leak of the virus.

As a substantial amount of time has elapsed since the Covid-19 pandemic began coupled with the concealment (deliberate or indeliberate) of critical direct and physical evidence regarding the real nature of the SARS-CoV-2 virus, we may never know the true story surrounding its origins.

Screenshot of John Hopkins University of Medicine’s Worldwide Covid-19 Dashboard, taken Sept. 27, 2022 (Total Cases: 615,673,638; Total Deaths: 6,538,656, Total Vaccine Doses Administered: 12,255,133,258)

What remains, however, is that it is certainly worthwhile to not let this one drain down the funnel of forgotten history.

The World Economic Forum (WEF)’s Great Reset

Though founded in 1971, it is really in the last couple of years that this elitist organization, commonly referred to as the WEF, started to gain attention by the general public (rather than business leaders, politicians, and state leaders) around the world. This is in large part attributable to the increase in the influence and power they have gradually exerted on nations over the years, and particularly since the Covid-19 Pandemic came about.

In 2020, the WEF embraced the opportunity that this global crisis presented and not let it “go to waste.” And thus, seized it through a series of recommendations and actions which they stated as an opportune moment to “redefine” the world – particularly the traditional economic model into one of what they call ‘stakeholder capitalism’. Hence was born their proposed ambitious action plan known as the ‘Great Reset’.

Two books accompany this endeavor, namely, the manifesto entitled COVID-19: The Great Reset (2020) written by WEF founder Klaus Schwab, as well as the The Fourth Industrial Revolution (2016). Both serve as blueprints for what the well-connected elitist and quasi-supranational organization wish to impose on global citizens.

The WEF’s founder Klaus Schwab has been characterised as kind of a Bond villain in the last few years – particularly over social media. A well-researched introduction about Klaus Schwab and the WEF was produced by YouTuber Sorelle Amore.

While registered as a non-profit organization, the WEF does appear, at prima facie, to be one with benevolent intentions fostering public-private partnerships, that is not entirely the case. Many controversies have surrounded a lot of what has come out of their famous annual meetings referred to as ‘Davos’ which usually take place in the ski-resort town of Davos in Switzerland.

For instance, many rich elites who’ve paid a hefty membership fee to join the WEF, make it to the annual event in their private jets while they call upon the masses and nation states to curve energy emissions and reduce their carbon footprints. In this year’s Davos meeting, one of their ilk, J. Michael Evans, president of the Alibaba Group, even proposed a new technology to measure one’s carbon footprint, stating [emphasis added]:

We’re developing, through technology, an ability for consumers to measure their own carbon footprint. What does that mean? That’s, where are they traveling, how are they traveling, what are they eating, what are they consuming on the platform? … stay tuned, we don’t have it operational yet – but this is something we’re working on.”

While we all love the environment and want to do our part to protect it, this kind of scheme appears to be nothing less than a proposed taxation scheme targeted to partner governments eager and willing to implement it.

Other controversial, some would say absurd, proposals have come out of their forums. Promoting the masses to eat bugs (as a high source of protein and great substitute for meat) is actually a thing now with celebrities such as Nicole Kidman helping to spark the trend stating how delicious they are. Insect processing plants, such as the cricket facility from Aspire Food Group in Ontario, are also starting to bolster this nascent industry.

You would be stunned at witnessing the extent to which this is becoming widespread.

Some, however, have expressed concerns about how insect-based ingredients are stealthily being added to the food we purchase and how they are not fit for human consumption and possibly even cancerous.

Tweet indicating that President’s Choice (a leading food provider in Canada) is including insect components in this product, as per the label, purchased at a store in Saskatchewan.

I suppose we are all going to have to more carefully read the ingredients lists of the foods we purchase.

Another major concern with regards to the WEF is the amount of power and influence they hold over political officials, including heads of state.

This became apparent in the recent riots that have occurred in the Netherlands where Dutch farmers have protested in masse against government diktats regarding reducing nitrogen (used in fertilizer) levels and possible farm land appropriation.

Dutch Prime Minister Mark Rutte also received criticism regarding the coziness of his ties with the WEF’s boss, Klaus Schwab, and his agendas. In fact, Rutte was blasted in the Dutch legislature by Gideon van Meijeren (MP) for this relationship and complicity in the WEF’s Great Reset (link includes the related video). Rutte responded to the young MP that he didn’t know about the book (COVID-19: The Great Reset) and ridiculed the young MP to “not look too much into these conspiracy theories.”

In turns out, though, that a close relationship did exist between the Netherlands Mark Rutte and the WEF. Independent information outlet LeLibrePenseur.org (French for ‘The Free thinker’), published secret letters between the two. In a report titled Fuites de Klaus Schwab : lettres secrètes entre le WEF et des membres du gouvernement hollandais dévoilées ! (Klaus Schwab leaks: secret letters between the WEF and members of the Dutch government exposed!), they showcased (what many mainstream Dutch journalists had described as conjecture) how the Rutte government had indeed been subservient to the interests and agendas of the WEF. Following a request from deputy FVD Pepijn van Houwelingen to make public the letters addressed to Dutch cabinet members, it was confirmed that their contributions had helped in the realisation of the Great Reset, essentially bypassing the will of the people through their elected officials.

While it is not necessarily conspiratorial to create linkages with the WEF, the secretive manner in which it was done is what proves alarming.

Regarding Canada, Klaus Schwab has repeatedly boasted on how proud he was proud of his army of Young Global Leaders, including Canadian Prime Minister Justin Trudeau. Schwab even bragged about how his lieutenants had “penetrated” the Canadian cabinet stating [emphasis added]:

“What we are very proud of now [is] the young generation like Prime Minister Trudeau, …, that we penetrate the cabinets. So, yesterday I was at a reception for Prime Minister Trudeau and I know that half of his cabinet, or even more than half of his cabinet are actually young global leaders of the world.”

That is a stunning admission from the leader of the WEF. Canadian opposition MP even inquired about this outside interference on behalf of a constituent of his during a parliamentary session, only to see the Speaker dismiss the question from the MP regarding this claim by provided a ridiculous excuse that the audio and video were “really really bad”. This was swiftly followed by an MP of the ruling party dismissing the question stating that the opposition MP was “promoting disinformation”. Really? I presume he didn’t hear the video in question that clearly stated otherwise. Regardless of the veracity of the claim itself, when an extremely powerful individual from an extremely powerful global organization such as the WEF makes a vivid assertion about who is controlling the Canadian cabinet, it should be taken seriously and further investigated.  

At the very least, according to True North News, the Trudeau Government gave nearly $3 million to the WEF which raises a cause for suspicion regarding the relationship and its inherent motivations.

Rigging of the Gold & Silver Markets

At this point/stage, this is really no longer a conspiracy theory, but more of a conspiracy fact. As a financial author, I have followed the gold and silver markets on a daily basis for the past ten years and have witnessed and documented numerous cases of blatant price fixing – almost exclusively to the down side.

The main reason for the suppression of gold and silver prices is to maintain the illusion of a strong US dollar; for, if prices of these metals get too elevated it raises alarm bells as to the weakness of an exponentially increasing money supply.

Here is what I’m talking about:

Gold smashed down more than $85 during London trading hours on November 9, 2020. Source: Kitco

It is very typical for the price fixers (see below) to smash the gold price down (they do this by shorting large amounts of paper gold futures contracts) before the open of U.S. markets – either during Asian (Hong Kong) or London trading sessions.

Former industry insider and highly credible Peter Hambro forthrightly explains how the Bank for International Settlements (BIS), the LBMA (London Bullion Market Association) in London, and the COMEX (the largest American commodities and futures exchange) in New York are complicit in the price fixing (almost exclusively to the down side) of gold.

Over the past several years, precious metals analyst Roman Manly has also conducted extensive and thorough investigative work about the manipulation of gold and silver prices as has the Gold Anti-Trust Action Committee (GATA).

Regarding silver, an article entitled A Silver Price Manipulation Primer by Sprott Money and precious metals writer Craig Hemke offers a good introduction about the fixing of silver prices.

Lastly, we cannot forget the unabashedly, unfiltered, and outspoken Canadian derivatives expert Rob Kirby who passed away earlier this year (a tribute to his work can be seen via YouTube’s Liberty and Finance channel) who has extensively reported on these illegal price fixing activities on various YouTube channels such as Liberty and Finance.

Mass Censorship & Search Manipulation

In 2021, Twitter completely banned and censored the sitting U.S. President, Donald J. Trump – who had over 88 million followers on the platform.

If a Big Tech outfit like Twitter can outlaw a sitting U.S. President, you can rest assured that they can basically ban and memory-hole anyone. And that, they have done so unabatedly in the past several years.

Google (the largest search engine in the world by far) who owns a slew of other extremely popular applications used by hundreds of millions of people and media platforms such as YouTube, has been known to employ very deceptive practices over the past several years.

Many of these involve either directly or indirectly censoring websites and completely banning countless channels – particularly conservative and alternative ones – from their YouTube platform, not to mention shadow-banning. In regards to the later, whistleblower Zack Vorhies, a former Senior Software Engineer at Google, stated that the tech giant was a “highly biased political machine”. The former insider took a cache of documents that provided rather revealing information about the inner workings of their search algorithms, establishing a “single point of truth” for news, and preventing another “Trump situation” in 2020, from ever happening again.

More recently – and quite convincingly, Dr. Robert Epstein, a Senior Research Psychologist from the American Institute for Behavioral Research and Technology gave an in-depth interview with The Epoch Times’ Jan Jekielek (Robert Epstein: Inside Big Tech’s Manipulation Machine and How to Stop It) revealing in a meticulously documented fashion how Google is indeed politically aligned to the left and how it manipulates the thoughts and minds of their users via “ephemeral experiences”. The April 2022 broadcast and podcast for this interview are definitely worth listening to. By listening to it, you will learn a lot about what exactly happens behind the scenes when you use Google search and its various products and services. Alternatively, you can read or consult Dr. Epstein’s full research paper entitled ‘GOOGLE’S TRIPLE THREAT, To Democracy, Our Children, and Our Minds‘ (51-page PDF) published earlier this year.

Full research report by Dr. Epstein’s entitled ‘GOOGLE’S TRIPLE THREAT, To Democracy, Our Children, and Our Minds‘ (PDF)

Slightly after the 2016 U.S. Presidential Election, Dr. Epstein had surmised that search engine bias shifted 2-3 million votes in Hillary Clinton’s favor and warned that the number could increase fivefold in the 2020 contest.

Also back in 2016, it was revealed how Google had censored information about Hillary Clinton’s wrongdoings in their search results compared to other major search engines.

Whether the call for censoring and shielding Big Tech from scrutiny and legal action comes under the guise of cracking down on misinformation or preserving their censorship power, it nonetheless remains clear that these media behemoths hold tremendous power on the levers of public discourse and the availability of information.

The Biden Administration has been accused of employing an “army” of officials from multiple government agencies (specifically, the HHS, DHS, CISA, the CDC, NIAID, the Office of the Surgeon General, the Census Bureau, the FDA, the FBI, the State Department, the Treasury Department, and the U.S. Election Assistance Commission) to censor information using their contacts in social media. A recent lawsuit – handled by the New Civil Rights Alliance – alleges that very claim. The lawsuit’s plaintiffs’ position begins with their claim and what it seeks [emphasis added]:

“the Plaintiffs served interrogatories and document requests upon the Government Defendants seeking the identity of federal officials who have been and are communicating with social-media platforms about disinformation, misinformation, malinformation, and/or any censorship or suppression of speech on social media, including the nature and content of those communications.”

In a recent interview with Joe Rogan, Facebook CEO Mark Zuckerberg also openly revealed that he followed the censorship orders from the FBI to suppress information related to Hunter Biden’s laptop ahead of the 2020 election; all this was under the guise of “Russian Disinformation” and the net effect was that Facebook ended up ranking the information further down their newsfeed which could certainly be seen as election interference and/or political partisanship.  

I have mentioned in my initial post on Substack, that I espouse the notion that, in essence, there really is no such thing as misinformation, disinformation, or malinformation (or even ‘fake news’ for that matter) – for, it is ALL INFORMATION. If the public is not able to firstly access information and then analyse and discern it for themselves (even with regards to the complex issues of our day), then perhaps we have a bigger problem. Namely, that of a dumbed-down populous unable to critically think for themselves without been spoon fed pre-determined, unquestionable, narratives by “authority” figures.

in a recent interview, author, journalist, senior editor for The New American, and Epoch Times contributor Alex Newman offers are rather insightful view of not just the current state of censorship, but also the worrying trend of the dumbing-down of population through our degrading school system. As one who has worked in the education sector for 35 years, I can certainly agree with his concern that our youth are not adequately being taught critical-thinking skills in our public school system.

In Canada, the controversial Bill C-11 (an Act to amend the Broadcasting Act) has been passed by Parliament and is awaiting a second reading in the Senate. Though Prime Minister Justin Trudeau stated that it would help “oppressed communities” and “strengthen trusted news sources in Canada”, many others contend that if passed as law, it will favor government-approved news organizations who are already (and will continue to) receive nearly hundreds of millions of dollars of taxpayer money, with the CBC reportedly receiving 1.4 billion in 2021 according to the National PostDr. Michael Geist, a law professor and Research Chair (in Internet and E-commerce Law) at the University of Ottawa categorized the government’s defence of the bill as “cartoonishly misleading”. The main concern is that this bill could silence freedom-loving content creators, reports mrcTV. Canadian journalist Dan Dicks from Pressfortruth.ca and social media personality Viva Frei (David Freiheit) have criticized the bill (and even its predecessor bill C-10). It remains to be seen if the bill will pass the Senate to become law.

2020 Election in the United States

The 2020 Election was one of the most controversial elections in American history. Coverage about the election varied greatly among major networks and news outlets in the country.

In my opinion, I have found The Epoch Times coverage of the election to be most accurate and independent.

All publications have bias in their reporting; that is inevitable due also, in large part, to opinion pieces which in today’s polarized society carry a lot of weight. That being said, I still believe that articles from The Epoch Times have been more objective than many others.

One of their seasoned contributors, Sharyl Atkinson – an investigative journalist who has reported nationally for CBS News, PBS, CNN – ran an viewpoint article on Dec. 22, 2020 titled 2020 Election Screaming Red Flags That Deserved Criminal Inquiry. Though it was an opinion piece, she provided a fair analysis whereby she pointed out the many claims of election irregularities and fraud and how they should have been taken more seriously and investigated upon by government officials and law enforcement agencies. And since they haven’t been taken seriously, the integrity of the election results comes under great scrutiny. Her piece then lists eight examples of “screaming red flags” that should have prompted thorough criminal inquiries.

Prior to the election, The Epoch Times had unveiled a very comprehensive exposé titled Spygate: The Inside Story Behind the Alleged Plot to Take Down Trump that was very well sourced and referenced. The investigatory work outlined in great detail the concerted plot whereby key members of the CIA, FBI, Department of Justice (DOJ), and officials from the U.S. State Department set up and accused President Trump of colluding with the Russians.

Various official inquiries such as the very long and costly Special Counsel investigation of 2017-2019 (headed by the very corrupt and compromised Robert Mueller, former Director of the FBI) proved that no foul play had ever occurred between Trump and the Russians.

What is stated in the previous paragraph is important, for it adds veracity to the claims made about election fraud to the detriment of the incumbent Trump. Why? Because it affirms the motivation by those in power to use the same type of unlawful activities (and collusive partners) to falsify and skew election data.

Such manipulation of the data, demonstrable by statistical anomalies, (particularly with mail-in ballots) certainly became obvious and apparent during the morning hours following election day when, miraculously, Joe Biden’s numbers soared in key states where Trump was leading. Many outlets had cried afoul to this apparent fraud. Even the head of the Federal Election Commission (FEC) Trey Trainor at the time said he believed there was widespread election fraud.

In addition, the manner in which Big Tech platforms have shown favoritism – before, during, and after the election – is also to be considered in the disputed election results. It is no secret that Google has not been shy about supporting Democratic candidates such as Hilary Clinton and Joe Biden in the past several years; this has been highly documented – with some examples detailed in this work (above). Twitter has also blatantly censored and terminated accounts belonging to conservatives; a case in point here includes them suspending 2020 election audit accounts for multiple states.

Dominion Voting Systems were used in many states for the election. And much controversy arose surrounding their reliability and accuracy in counting votes, along with hacking (including foreign) vulnerabilities. The U.S. Cybersecurity and Infrastructure Agency (CISA) has pointed out that these could affect voting in multiple states. The state of Pennsylvania is suing Dominion Voting Systems alleging “severe issues” with voting data discovered after the 2020 election. And, more recently, the Biden administration is urging a court not to release a sealed report on Dominion Voting Systems

Lastly, the fact that Joe Biden supposedly received 80 million votes – the most votes won by any presidential candidate in US history (which shatters the 69.5 million votes Barack Obama had received in 2008) – remains highly questionable. Even prior to election night, Biden himself was nowhere nearly as popular as his predecessor, Barack Obama. Perhaps there was a larger portion of the population that went out to vote and wanted to vote for the Democratic party regardless of its leader.

While there still are ongoing investigations at the state level regarding these voting irregularities, it is highly doubtful that much will come out of them. The whole affair has been greatly politicized which taints the judicial review process and proper accounting of votes for the highly-disputed 2020 election.  

Aerosol Spraying (Geoengineering)

Of the many alleged conspiracies worth keeping an eye on, Aerosol Spraying (sometimes referred to as ‘Aerial Discharges’ or ‘chemtrails’) – which fits under the larger umbrella of geoengineering – is one of the most troubling and worrisome ones.

For those not familiar with the subject, geoengineering generally involves modifying the weather for various purposes such as in climate engineering (e.g., cloud seeding to induce rain over drought-stricken areas) or as weather warfare for military purposes – which dates all the way back to the Eisenhower administration in the United States.

For at least the past two decades, Dane Wigington has been on a crusade to alert the world about this troubling phenomenon due to its extensive use of harmful chemicals. His website GeoengineeringWatch.org contains a substantial amount of credible evidence regarding the dangerous effects that geoengineering practices have on our climate, environment, and populations. Whistleblower testimonies, government reports, and other evidence presented on the site – including numerous photographs and videos – prove that a lot of activities surrounding geoengineering is intended for nefarious and harmful purposes.

This is not conspiracy theory, but rather indications of a conspiracy to harm populations through weather modification and jet sprayings – sometimes inadequately referred to as ‘chemtrails’.

I myself have witnessed this phenomenon of jet sprayings over my region in the province of Quebec since my return to Canada in November of 2021. I never saw these spraying prior to the year 2008 before my departure from the country. Since my return, I’ve been witnessing massive spraying occurring over the skies of my region to the tune of three to five times a week, on average. And each day of spraying emanates from around a dozen or more flight by high-altitude aircraft.

I’ve personally written to my city, the local airport authority in the city, Environment and Climate Change Canada, Transport Canada and none of them have provided concrete answers to my inquiries and to the nature of this phenomenon in general.

Both my city and Environment and Climate Change Canada have replied to me that these sprayings are merely commercial passenger aircraft exhaust trails, i.e., condensation trails. Anyone who has taken a high-school level physics course will be able to debunk this ludicrous claim that these sprayings – that stretch over kilometers far and wide and that last hours – are due to condensation vapor trails.

I had asked Environment and Climate Change Canada if these sprayings could be attributed to weather modification programs, and they replied me that none were in effect in the province of Quebec, but that there was one in effect in the province of Alberta. So, if these are not intended for weather modification purposes, then what are they for?

My subsequent (and very polite, respectful) email inquiries to these Canadian agencies have been mostly ignored. This leaves me to conclude that they are not being forthcoming about the origins of these sprayings and thus appear to be hiding the facts surrounding them.

Aerosol sprayings over the greater City of Sherbrooke (Quebec) area on January 30, 2022

In addition, for this year alone, I have seen many photographs and videos shared online of these sprayings posted by many Canadians located in different provinces.

In Canada there have been court cases filed regarding aerosol sprayings. Mass sprayings in the Calgary, Alberta region have lead to a mass-tort case that was filed in Federal Court (see related court documents) in 2016 along with a related appeal in 2018 also at the federal level. The appeal further alleges:

the ongoing dispersal into Canadian airspace of aerosols that are harmful to the Canadian public and that is polluting to the Canadian environment, and in respect of which aspects of the scientific community have only relatively recently evaluated in the scientific peer-reviewed literature.”

The court case mentioned above appears to still be ongoing.

What is particularly worrisome about these aerosol sprayings is that we don’t know exactly what chemicals are being used and dispersed over our skies.

The team at GeoengineeringWatch.org has produced many excellent explanatory videos and documentaries, along with a cache of documents to inform the public of what these sprayings are really about and what chemicals are found in them. I highly recommend their introductory video Hacking The Planet: The Climate Engineering Reality.

Evidence collected by GeoengineeringWatch.org has shown that chemicals and metals used in aerosol sprayings have included aluminum, barium, strontium, graphene, among others.

Home page for GeoengineeringWatch.org

What is also particularly troubling is that many of these metals and chemicals make their way to ground level from high altitude in the form of nanoparticles – which if breathed in, are tiny enough to penetrate the blood-brain barrier. They are especially harmful to elderly and infant populations whose brains are still in development. In this respect, I highly recommend the work of neurosurgeon Dr. Russell Blaylock who describes the harmful effects these chemicals have on the brain.  

There is also a lot of evidence that suggests that geoengineering is used to modify the climate and could thus be a significant contributor to climate change, increasingly unstable weather systems, and droughts.   

Lastly, what I find particularly disappointing as a Canadian is the position, albeit one from several years ago, whereby our very famous David Suzuki – one who I admired very much growing up and watching his show The Nature of Things – pretty much described the phenomenon as conspiracy theory posited by “wacky science deniers” in an article entitled David Suzuki on Chemtrails, Conspiracies fuel climate change denial and belief in chemtrails. There are many false assertions in this poorly formulated article, but here are the key ones [emphasis added]:

“I recently wrote about geoengineering as a strategy to deal with climate change and carbon dioxide emissions. That drew comments from people who confuse this scientific process with the unscientific theory of “chemtrails””.

Suzuki’s statement bolded above makes no sense. A theory is a theory. There is nothing unscientific about a theory. A theory is a hypothesis assumed for the sake of investigation which is formulated before science is conducted to verify it.

He continues with the following later in his article:

I’m a scientist, so I look at credible science – and there is none for the existence of chemtrails.”

They’re condensation trails, formed when hot, humid air from jet exhaust mixes with colder low-vapour-pressure air.

Condensation trails? Condensation trails do not drag on over several kilometers and remain suspended for hours at a time; rather, they usually dissolve within several seconds, or a few minutes at the most.

As for “credible evidence”, these aerosol sprayings have been highly documented over the past several years.

So, these are the main arguments and explanations from one of Canada’s most renowned scientists?

Really?

Sorry Mr. Suzuki, I respectfully disagree with this very perplexing assertion, for it doesn’t hold water! (pun intended)

And many of the 297 comments generated from this article are in disagreement with Mr. Suzuki’s assessment.

Author note: I have contacted Mr. Suzuki by email to provide him with an opportunity to re-assert or update his assertions (especially since several years have elapsed since the article was written) but have not received a reply from him as of publishing time.

Back to the condensation trails, I have personally filmed and photographed many instances of real condensation trails from commercial airliners including those at high altitude; and for these, the trails completely disappear within no more than a minute or so.

I even have some that show these alongside other – likely non-commercial – aircraft which produce aerosol sprayings that last for kilometers and persist for much longer periods. And this, of course, under the exact same weather conditions.

Also, I would invite the skeptics to try to find any photographs or videos prior to the 1960s that have these kinds of criss-cross patterns and lengthy and abnormal cloud dispersions over several kilometers in the sky. There are none that I know of; but if any are found, let me know. The oldest ones that I’ve been able to find appeared in a few episodes of the TV series Little House on the Prairie which began in 1974.

Wouldn’t a scientist who is genuinely concerned about climate change such as David Suzuki (and all others, for that matter) want to consider all factors (including aerosol dispersions) which may contribute to the degradation of our natural environment?

Questions that remain regarding this inadequately addressed phenomenon include:

  • What is the purpose of these aerosol sprayings?

  • Who is authorizing them?

  • Who is paying for them?

  • What substances (including chemicals) are they spraying?

  • Why aren’t Environment and Climate Change Canada and Transport Canada providing answers to these questions?

Mini-Guide to Investigating Conspiracies

An educated citizenry is a vital requisite for our survival as a free people.” – Thomas Jefferson

Actually, the header for this section is a bit of a misnomer, for it will comprise a broader range of tools and techniques that will enable individuals to do a better job at discerning and validating information.

The internet is a vast ocean of information and knowledge. There is a lot to take in and it can all be quite overwhelming – especially when social media is included in the mix.

Many labels such as ‘fake news’, misinformation, and disinformation have been thrown left and right to hastily characterize the validity of information provided by certain parties.

Of course, this is very subjective and is influenced by many factors such as different kinds of biases, political affiliations, financial interests, and the like. One must judge what one reads based on its own merits without relying on these labels. In other words, begin by removing any of these labels or preconceived assumptions and tackle the information itself.

I would recommend reading news and information from different sources – whether it be from mainstream media, alternative media, and everywhere in between. Each article or piece of information is unique, was written by an individual (or a few individuals) and should be treated and evaluated as such. Put another way, each article is like an antique. An antique collector will inspect and examine each piece on its own characteristics and merits. Depending on the qualities and flaws observed, the collector will be able to make an objective evaluation for authentication purposes (i.e., Is it real or fake?) We should use the same approach when encountering a piece of information – particularly if it is of a complex, controversial, or disputable nature.

Another thing we can do is be wary of buzzwords. By buzzwords, I mean words or phrases like ‘right-wing’, ‘left-wing’, ‘conspiracy theorist’, ‘conservative’, ‘liberal’, ‘MAGA Republican’, ‘anti-vaxxer’, ‘so-called’, ‘quasi’, and ‘pseudo’. Buzzwords are similar to labels and are often used by writers or TV personalities to indirectly (or subliminally) convey a pre-conceived notion about the subject matter of the information piece. Also be aware that buzzwords’ meanings can vary from one geographical region to another, similar to slang. The idea here is to detect their usage and become cognizant that they may be used to sway the reader’s opinion in a certain direction. So, look out for these – especially when reading headlines to articles or social media posts.

In today’s very polarized and divided society filled with identity politics, blame and labels will be readily cast upon those who don’t “toe the line” (i.e., go along with a certain narrative, or accept the authority or views of a particular group, sometimes under pressure from that group). We’ve seen a heck of a lot of this in the past couple of years with the Covid-19 Pandemic. Prime examples include the likes of “trust the science”, or “he’s an anti-vaxxer”. For the later, the danger here is that such condescending comments or labels assigned to specific people or groups can not only be harmful, but will too often lead to incorrect assumptions about the target. For instance, if someone refuses to take the Covid-19 vaccine, that doesn’t necessarily mean she’s an anti-vaxxer; perhaps, she is willing to take other vaccines, but just not the Covid-19 one. In another prime example we often hear the label “climate change denier” (as with the David Suzuki article referenced earlier) when someone doesn’t (either fully or in part) adhere to the notion of climate change. As this particular topic is very broad and complex, labelling one in such a derogatory fashion proves itself as quite foolish. Writers, TV personalities, news pundits, and social media figures may often attack a person when they cannot invalidate or counter the substance or merits of their claims. Some are very adept at it too which takes the victim by surprise and makes them appear stupid or weak. The trick here, is to not take it personal and let it get to you. Rather, either ignore them, or turn the situation around and ask them to elaborate on the merits of why they disagree with your claim or stancepressing for facts and evidence to substantiate their assertions.   

A great question to ask is ‘Cui bono?’ which is Latin for ‘who benefits?’ The phrase originates from the very famous Roman statesman Cicero. Cicero was a brilliant orator, lawyer, philosopher, and politician who lived during the boisterous early years of the Roman Empire when wars, politics, greed, and power dominated the social and political landscapes (as they still do today). One needed to be quite astute in assessing others’ motives based solely on their words and actions. Cicero would often ask this question, cui bono, to better understand the real motivation behind individuals’ or groups’ true intentions. We should do the same, as it seems everyone is out for something to gain. Put simply, we should take some time to question the possible motivations behind what we see, hear, or read.

The Death of Caesar, 1874 steel engraving by J.C. Armytage after J.L. Gérome

In similar fashion, we should also follow the money. This is particularly useful when looking at information related to the financial markets as well as political and geopolitical happenings. Similar to the previous tool, it guides us towards the underlying motivation(s) – most often of a financial nature – behind what someone is saying or doing. They may be saying one thing, but doing another through their actions, whether they are investments, supporting political candidates or causes, donating to charity, etc.

Individuals who have received a classical education often fare much better in how they process information and interact with other people. There are key reasons for this. The first is that in this type of education system, students go through a three-step learning process, or system, which stretches from elementary school to middle-school to high-school. These three learning anchors are: grammarlogic, and rhetoric. The grammar part is not of the ‘spelling & grammar’ kind; rather, it relates to how one inputs information from the outside world. The logic part refers to how one processes the information obtained. And the rhetoric part is the culmination – being able to communicate and express oneself persuasively. This third part is quite important. Many of the ills and divisions we see in society today is due to the lack of this particular ability. People are far more likely to debate with one another than to have a civil discussion about it.

In classical education, which has its roots from the ancient Greek philosophers, students communicate using discourse (dialectic/Socratic method). In other words, they have a conversation and use logic and reason to arrive at truth. This is a much more constructive means than to debate or argue in a back-and-forth manner whereby each party wants to be right and win. If people in today’s society would be more respectful towards one another and accept differences in views and opinion, then we could find areas of common agreement and would thus have more peace and unity, as opposed to hatred and division.

So, the moral of the story here is that we should make an effort to be polite and respectful towards the views and opinions of others, even if they vary from our own or sound crazy. In doing this, we have a much better chance of making allies and gaining the trust of others. Disagreeing with a person is much different than disagreeing with the contents of what they are saying.

Lastly, here is one more tool that almost all those who receive a classical education learn about – logical fallacies. A logical fallacy, in its simplest form, is a flawed or weak argument or assertion. They are deceptive or false arguments that may seem stronger than they actually are due to psychological persuasion, but are proven wrong with reasoning and further examination. (source) There are many different types of logical fallacies. An example includes Blind Loyalty:

“The dangerous fallacy that an argument or action is right simply and solely because a respected leader or source (an expert, parents, one’s own “side,” team or country, one’s boss or commanding officers) say it is right. This is over-reliance on authority, a corrupted argument from ethos that puts loyalty above truth or above one’s own reason and conscience. In this case, a person attempts to justify incorrect, stupid or criminal behavior by whining “That’s what I was told to do,” or “I was just following orders.”

We’ve seen the Blind Loyalty fallacy a lot during the Covid-19 Pandemic. We’ve been told to ‘trust the science’, certain experts in the medical field, health organizations, and so on. Just because something comes from a given expert or an authoritative organization doesn’t necessarily mean it is correct. I remember when I came back to Quebec, Canada last November, the health pamphlets from the provincial health authority listed zero possible side-effect or risks associated with the Covid-19 vaccines. As all vaccines have inherent risks, this information provided by this respective authoritative source was not right, or completely accurate. Critical information was omitted.

Guilt by Association is another common logical fallacy. Here, one tries to refute or condemn someone’s standpoint, arguments, or actions by evoking negative sentiments of those with whom they associate with. A classic example of this one came about during President Biden’s controversial speech he gave on Sept. 1, 2022 whereby he rendered a large portion of Americans as dangerous ‘MAGA Republicans’; in other words, he positioned many who consider themselves as Republicans to be Trump supporters and some kind of insurrectionists. In Canada, the mainstream media often associated and labelled those who supported the Freedom Convoy protest movement as far-right extremists.

Many other logical fallacies are employed by those in the media and across social media. These are flawed arguments or assertions that you need to look out for. You need to be able to first recognize them and then you will be in a better position to defend yourself by addressing them for what they are.

Conclusion

So, why does society need conspiracy theories and conspiracy theorists? Well, it‘s no secret that we’ve been lied to. We’ve been lied to about a lot. And we are still being lied to on a daily basis. This makes it much harder to get to the truth.

Knowing more about how conspiracies actually work and how past ones have played out can help us to be more vigilant and question more about our perceived reality. Everything happens in the mind. The better we train our minds, the better we can sift through the rubbish and keep what’s real and authentic while discarding what is not.

Conspiracy theorists are often labelled and demonized – usually because they have demonstrated the courage to speak out, to point out inconvenient or uncomfortable truths. They may lose the support of friends, family, and employers in the process. But they remain true to themselves and who they are at their very core. Therefore, we should encourage them and even strive to duplicate their courage and assertiveness.

Tyler Durden
Wed, 11/09/2022 – 00:05