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Biden’s Ex-Disinfo Queen Slaps Fox With Defamation Suit

Biden’s Ex-Disinfo Queen Slaps Fox With Defamation Suit

Nina Jankowicz, the Biden administration’s short-lived disinfo czar, is suing Fox News for defamation, claiming that the network promoted lies about her that generated ‘serious threats to her safety’ and harmed her job prospects, according to the NY Times.

To review:

According to the lawsuit, Fox mentioned Jankowicz 300 times in eight months, where she claims she was demeaned and defamed in highly personal language by hosts Tucker Carlson, Maria Bartiromo and Sean Hannity – who said her job was to “to silence anyone who criticizes the Biden administration,” and possibly “get men with guns to tell you to shut up.”

She also came under fire for her batshit fake British accent while singing Orwellian censorship songs.

More via the Times:

The suit was filed on behalf of Nina Jankowicz, the former executive director of a short-lived Department of Homeland Security division assigned with coordinating efforts to monitor and address disinformation threats to national security. Right-wing pundits and politicians falsely portrayed her group as part of an Orwellian bid to control the speech and thought of ordinary Americans. -NY Times

Falsely portrayed? Guess we’ll find out.

Even after achieving their stated goal of driving me out of government and ending the board, they kept using me as a punching bag,” Jankowicz said in a Wednesday interview. “It shouldn’t be something we just accept — that the most powerful cable network in the world can attack individuals willy-nilly and not face any consequences after they ruin their lives.”

Hilariously, the Times also describes her as a “prominent specialist in Russian disinformation” despite her promoting the discredited Steele dossier and the Hunter Biden laptop Russiagate theory.

The lawsuit was filed in the same Delaware state court where Dominion Voting Systems lodged a $1.6 billion defamation suit against the network, which was settled last month for $787.5 million.

Tyler Durden
Thu, 05/11/2023 – 18:00

Musk Launches Twitter’s New Encrypted Messaging, But With Big Caveat: “Don’t Trust It Yet”

Musk Launches Twitter’s New Encrypted Messaging, But With Big Caveat: “Don’t Trust It Yet”

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

Elon Musk on Thursday announced the official launch of Twitter’s new encrypted direct messaging (DM) function, urging users to give it a try, but warning that the encryption feature in the early version should not be trusted.

Early version of encrypted direct messages just launched,” Musk stated in a Thursday tweet. “Try it, but don’t trust it yet.”

Direct messages sent on Twitter will be encrypted end-to-end, meaning that private messages can only be read by the sender and recipient.

Musk stated in an earlier post on Wednesday that the sophistication of the encryption feature will grow “rapidly” following the launch of the preliminary version. “The acid test is that I could not see your DMs even if there was a gun to my head,” he said.

With the rollout now official, Twitter joins other platforms like Signal and WhatsApp in providing users with an encrypted messaging service, though not all Twitter users will have access to it—at least for now.

Twitter stated in a post on its support site that the encryption feature is only available to people who pay for Twitter Blue or are affiliated with a verified Twitter account. Only messages containing text and links are encrypted, while media and other attachments are not yet supported.

Reactions to encrypted messages are also encrypted, but metadata—which includes the recipient as well as the creation time—are not. While links themselves are encrypted, the linked content isn’t.

Eligible users who want to send encrypted messages on Twitter will see a toggle after clicking on the message icon, allowing them to activate “encrypted” mode. They can then select another eligible recipient, and clicking “send” will dispatch an encrypted message.

Alternatively, eligible Twitter users can send encrypted messages though the conversation settings page of an unencrypted conversation in their inbox. After tapping the information icon, they can select the “start an encrypted message” option. Encrypted conversations will be differentiated from unencrypted ones through a lock icon badge.

As Elon Musk said, when it comes to direct messages, the standard should be, if someone puts a gun to our heads, we still can’t access your messages. We’re not quite there yet, but we’re working on it,” Twitter said on the support page, reinforcing Musk’s warning not to trust the encryption feature to protect sensitive information—yet.

“Twitter seeks to be the most trusted platform on the internet, and encrypted direct messages are an important part of that,” the support page states.

Musk revealed last year that he has plans to roll out a “Twitter 2.0 The Everything App,” which he said would combine encrypted direct messages, long-form tweets, and payments.

In March, Musk merged Twitter with a shell firm called X Corp., which he owns.

WhatsApp ‘Cannot Be Trusted’

In a Twitter post on Tuesday, Musk took aim at WhatsApp, telling Twitter users that the service “cannot be trusted.”

Musk was responding to a post from Twitter engineer Foad Dabiri, who claimed that his WhatsApp application was constantly switching on the microphone, even while he was sleeping.

Dabiri shared a screenshot of his device’s microphone usage, which showed that it had been switched on nine times between 4:20 a.m. and 6:53 a.m. while he was asleep, at one point appearing to record him for nearly 30 minutes.

Replying to Dabiri’s post, Gannon Breslin, CEO of The Drop NFT Media Inc., wrote, “It’s incredible how many people don’t realize that WhatsApp is owned by Meta/Facebook.”

Facebook purchased WhatsApp in 2014 for $16 billion.

Musk replied: “Yeah. Or that WhatsApp founders left Meta/Facebook in disgust, started #deletefacebook campaign and made major contributions to building Signal. What they learned about Facebook and changes to WhatsApp obviously disturbed them greatly.”

WhatsApp swiftly dismissed Dabiri’s claim, stating that users of the messaging service “have full control over their mic settings.”

Over the last 24 hours, we’ve been in touch with a Twitter engineer who posted an issue with his Pixel phone and WhatsApp,” WhatsApp said on its official Twitter account.

“We believe this is a bug on Android that mis-attributes information in their Privacy Dashboard and have asked Google to investigate and remediate.”

“Users have full control over their mic settings. Once granted permission, WhatsApp only accesses the mic when a user is making a call or recording a voice note or video—and even then, these communications are protected by end-to-end encryption so WhatsApp cannot hear them,” it added.

Katabella Roberts contributed to this report. 

Tyler Durden
Thu, 05/11/2023 – 17:40

DHS Producing Videos Teaching Citizens How To Identify “Radicalized” Conservatives

DHS Producing Videos Teaching Citizens How To Identify “Radicalized” Conservatives

America First Legal (AFL) has obtained documents through FOIA request from the Department of Homeland Security which outline a “Choose Your Own Adventure” style video series that DHS intended to release to the public.  The videos were meant to depict different scenarios in which citizens might encounter potentially “radicalized” individuals.  Citizens are then asked to choose what they think should be done about the encounter. 

Most of the scripted scenarios showcase people with conservative beliefs and values as the radicalized threat.  For example, the DHS targeted “suburban Moms” with pro-life beliefs:

The series also targeted “old high school friends” who believe in “conspiracies” as examples of radicalized citizens in need of bystander intervention.

The video scripts, written under the DHS’s Office of Terrorism and Violence Prevention, was part of an internalized memo circulated on January 29th, 2021, only eight days after Joe Biden entered the White House.  The program seems to have been developed in tandem with the “Disinformation Governance Board” which was eventually scrapped due to public opposition.  It reveals an ongoing and disturbing trend within the Federal Government to implement authoritarian measures across the country, first using covid as an excuse, then using the January 6th protests as a rationale.

Let us not forget about Biden’s disinfo-czar Nina Jankowicz, also known as “Scary Poppins.”

The focus of these DHS efforts was overwhelmingly on conservatives, with a not-so-subtle implication that conservatives and constitutionalists (or anyone that questions official government narratives) are domestic terrorists.  This was done while the DHS and Democrats mostly ignored the violent actions of BLM, Antifa, trans rights protesters, etc.  

The covid era brought the US and many other western nations to the very edge of an Orwellian society in which partnerships between corporate institutions and government bureaucracy are exploited to suppress all political and scientific discourse.  They created artificial fear and hype over a virus with a 0.23% Infection Fatality Rate, and they painted an unarmed protest at the capitol building (in which not a single person died because of the protesters) as an “insurrection.”

Now, we find that federal agencies are preparing propaganda to teach the public to act as informants, much like the communist Stasi in East Germany, to weed out and persecute liberty minded Americans. Or, to act as hall monitors for the state, correcting the behavior and speech of their friends, family and neighbors and creating an atmosphere of self censorship within the populace.

The most important question to ask is this:  What are they afraid of?  

Is the DHS afraid of legitimate domestic terrorist threats and they are perhaps misguided in promoting a pre-crime model for prevention?  Or, is the government about to do something they know will anger the public; something that might inspire Americans to become militant, such as a broad crackdown on people’s freedoms?  And if the latter is the case, wouldn’t the best method of prevention be for governments and bureaucrats to avoid enraging the public in the first place and to leave our freedoms alone?             

Tyler Durden
Thu, 05/11/2023 – 17:20

Weaponizing Death

Weaponizing Death

Authored by Victor Davis Hanson via American Greatness,

Recently there has been a spate of horrific murders. 

The killers, whether committing mass shootings or single homicides, are hard to stereotype. 

They can be clearly either mentally ill or simply innately evil. They can kill for revenge, for ideological purposes, out of hatred, for notoriety—or for no known reason at all. 

They are probably left-wing and right-wing, white, black, and brown, young, and old. While their weapons of choice are semiautomatic rifles, there are plenty of killers who favor handguns and even knives. 

Unfortunately, these tragedies increasingly have become politicized. 

Yet our media and politicians do not apply a common standard of reporting about either the victims, the killers, or the apparent motives and circumstances of the violence. 

Instead, each horror is quickly analyzed for its political usefulness. Then its details are electively downplayed or emphasized, depending upon the political agenda at work. 

A sad example was the terrible murder spree at the private Christian Covenant School in Nashville. A transgender male lethally shot six people, including three 9-year-old children.

BRENDAN SMIALOWSKI/AFP via Getty Images

Almost immediately, three media narratives emerged. 

  • One, semiautomatic weapons, not the killer Audrey Hale, were mostly responsible for the massacre.

  • Two, the shooter’s transgender identity profile played no role in the killing whatsoever.

  • Three, the public had no need to know of the contents of the shooter’s “manifesto.” 

Why?

The media and authorities apparently assumed Hale’s written rantings tried to justify the murders because of Christianity’s supposed disapproval of transgenderism. 

That censored reaction to the Tennessee shooting was quite different from another mass murder committed nearly six weeks later in Allen, Texas by a former security guard Mauricio Garcia. 

Within minutes of the identification of the shooter, the media blared that Garcia wore pro-Nazi insignia and was thus a “white supremacist.” 

Apparently that narrative was deemed useful to promote the idea of white supremacist terrorists using their semiautomatic “assault” weapons to kill for right-wing agendas. 

Yet second-generation Hispanic immigrants, whose parents do not speak English, are not likely “white supremacists.” 

The strained effort to make violent “people of color” into white right-wing killers is reminiscent of Trayvon Martin’s death in 2012. 

Then the media reinvented the shooter, half-Peruvian George Zimmerman, into a “white Hispanic.” He was transformed into a right-wing vigilante and racist who supposedly hunted down an innocent black teenager.

The media did not wish to portray Martin’s death as a fight between an Hispanic and black teen. Instead, it tried to refashion the shooting as “systemic racism”—to the point of doctoring the 911 tape and photoshopping Zimmerman’s police photo to fit its false narratives. 

Recently, an African American man named Deion Patterson lethally shot one and wounded four others in an Atlanta medical waiting room. His own politics, race, and type of weapon were apparently of little interest. So he was simply described as suffering from mental illness. 

The media also did not wish to sensationalize either the profile or circumstances of another contemporaneous mass shooter Francisco Oropeza.

He executed five of his neighbors, including a young boy and two women.

Only later did we learn that Oropeza was in fact an illegal alien who had been deported four times previously and returned each time through an open border.

Most recently, outrage grew over the homicide of Jordan Neely, a homeless man who frequented the subway and often threatened and occasionally attacked bystanders. 

When a would-be good Samaritan and ex-Marine determined Neely’s latest threats to passengers were serious, he subdued him with a choke hold. Tragically Neely died while being restrained. 

A media circus followed. Neely was black. The former Marine who held him down was white. So activists and the media immediately cited the death as yet more proof of systemic racism.

The public was lectured that Neely was a talented impersonator, who did professional street imitations of Michael Jackson. 

The violent death of his mother, we were told, had traumatized him.

Released subway videos showed him on the floor of the subway, thrashing about while the white Marine held him in a headlock. 

Protests and demands for a murder indictment followed. 

Then later the inevitable skipped details trickled out, despite, not because of, media coverage. 

Neely had been arrested 42 times, including for lewd conduct, with three convictions for violent assaults. 

His forte was brutally punching random victims in the face, including a 67-year old woman, and a 68-year-old Hispanic male. 

The news stories also neglected to mention that a black passenger helped subdue Neely. 

The public learned there might be other, as yet unreleased, videos of Neely earlier threatening commuters.

Death is traumatic enough, without searching for ways to gain political traction from it. 

It is eerie how each tragedy prompts a desperate effort to spin narratives of a racist America, where only right-wing killers and vigilantes prey on marginalized people of color and the transgendered.

Once these fables become “facts,” then the media runs with their fables.

Tyler Durden
Thu, 05/11/2023 – 17:00

Fed Emergency Bank Loans Soared As Money Market Inflows Continue To Surge

Fed Emergency Bank Loans Soared As Money Market Inflows Continue To Surge

After last week’s massive non-seasonally-adjusted deposit outflows (and shrinking Fed balance sheet), all eyes will be back on The Fed’s H.4.1. report this evening for signs that the regional banking crisis is accelerating even further (as PacWest’s statement and regional bank shares suggest).

The answer is not a good sign for the bulls as Money Market Funds saw $18.3 billion of INFLOWS, pushing the aggregate to a record high of $5.328 trillion. That is almost $120 billion of inflows in the last three weeks…

Source: Bloomberg

Retail funds saw over $12 billion in inflows while institutional was just $6 billion…

Source: Bloomberg

This surge in money market fund inflows strongly suggests tomorrow’s H8 deposit report will show the bank run is accelerating…

Source: Bloomberg

However, the most anticipated financial update of the week – the infamous H.4.1. showed the world’s most important balance sheet shrank for the 7th straight week last week, but only by a tiny $977 million, notably more than last week’s tumble (helped by a $43bn QT)…

Source: Bloomberg

The Total Securities held outright on The Fed balance sheet actually increased (so much for QT) by $461 million…

Source: Bloomberg

The total size of the Fed’s backstopping facilities remained extremely high at around $305.4 billion…

Source: Bloomberg

But, more problematically, the demand for the Bank Term Funding Program surged by $8 billion to $83.1 billion – a new high…

Source: Bloomberg

The drop in the discount window usage corresponds to the rise in the ‘Other Credit Extensions’ which looks like the loan to backstop the FRC deal.

Away from the FDIC loans, The Fed has a total of $92.4 billion of loans outstanding to financial institutions through two backstop lending facilities in the week through May 10, dramatically higher than the $81.1 billion the previous week.

Tomorrow we get the big one – more answers after the bell when The Fed releases its H8 report on bank deposit flows and whether the seasonal-adjustments are total bullshit or not.

Tyler Durden
Thu, 05/11/2023 – 16:40

Mouse-House Mullered, Banks Battered, But Mega-Cap Tech Turbocharged

Mouse-House Mullered, Banks Battered, But Mega-Cap Tech Turbocharged

China wasn’t pretty overnight, and then domestically, ugly jobless claims and cooler than expected producer price inflation offered some dovish hope (inflation weaker and growth weaker = less need for Fed tightening) but PacWest pissed in the punchbowl by admitting that 10% of their deposits left the building last week following the FRC take-down and the news about them seeking strategic options.

And regional banks are a wreck…

The latter news dominated the former (which should also have been dovish – increasing the odds of the ’emergency’ cut scenario priced into Fed Funds) but it smashed stocks and bond yields lower (but the dollar higher? which hammered gold).

So dovish, dovish, and dovish… and rate-CUT odds are soaring…

Meanwhile, the debt-ceiling overhang remains with the front-end of the Bill curve utterly insanely dislocated

Never mind all that… Nasdaq clung on to gains on the day as The Dow and Small Caps lagged…

Alphabet dragged the tech indices higher…

The Mouse-House was a bloodbath…

Before we leave equity land, VVIX is decoupling (to the upside) vs VIX and that didn’t end well the last two times…

Source: Bloomberg

Treasury yields were all lower on the day with the long-end outperforming on the day (2Y -1bps, 30Y -6bps). Yields are all lower on the week with the belly outperforming…

Source: Bloomberg

Despite the dovish headlines, the dollar rallied to one-week highs…

Source: Bloomberg

The South African Rand plunged to record lows after the US accused them of selling weapons to Russia…

Source: Bloomberg

Bitcoin was dumped lower again, falling back below $27,000…

Source: Bloomberg

Gold spiked early then was puked again…because nothing says dump gold like a debt ceiling crisis, banking crisis, and dovish implications for The Fed…

Oil slipped again as China rebound and US jobs data dented demand hopes, sending WTI back to a $70 handle…

Finally, 2023 is starting to look a lot like 2011… can they hold out til August for the X-Date hammer to hit?

For the S&P…

Source: Bloomberg

And VIX…

Source: Bloomberg

And judging by USA CDS, it’s different (and worse) this time…

Source: Bloomberg

But hey, keep buying that dip!

Tyler Durden
Thu, 05/11/2023 – 16:00

Musk Says New CEO Found For Twitter, Sends Tesla Shares Surging

Musk Says New CEO Found For Twitter, Sends Tesla Shares Surging

Having promised several months ago that he will transition away from the role of Twitter CEO (which many lamented was taking up too much of the billionaire’s time) and was keeping TSLA shares depressed, moments ago Elon Musk tweeted that he is “excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!”

He adds that his role will transition to “being exec chair & CTO, overseeing product, software & sysops.”

It wasn’t immediately clear who the new executive is, but TSLA stock liked the news and the stock promptly jumped to session highs.

Developing

Tyler Durden
Thu, 05/11/2023 – 15:58

Israeli Killed Outside Tel Aviv As IDF Says Over 800 Rockets Fired From Gaza

Israeli Killed Outside Tel Aviv As IDF Says Over 800 Rockets Fired From Gaza

Update(1540ET): As of mid-evening local time the IDF has recorded 803 rockets and mortars launched over the past 2 days from the Gaza Strip. At least 28 Palestinians have been killed, many of them civilians. 

The first Israeli citizen has been killed: “One person has been killed when a rocket fired from Gaza struck a city near Tel Aviv, an Israeli emergency official tells Army Radio,” per Al Jazeera.

Destroyed apartment outside Tel Aviv, Time of Israel/Flash90

“A spokesperson for Israel’s medical services said a rocket struck a four-storey apartment building in Rehovot, leading to a death and at least five injuries.”

The EU and other international bodies are calling for an immediate ceasefire, but there are currently no signs either side is backing down, also as Israel continues to pummel Gaza with airstrikes. 

Of 620 projectiles which have crossed the border into Israel (many don’t make it outside of Gaza after they are launched, falling short), air defense systems intercepted 179.

* * *

The White House has said it stands by Israel as its offensive against Gaza militants enters a third day. As of Thursday evening local time, at least 26 Palestinians have been reported killed, which includes both civilians and multiple leaders of the Palestinian Islamic Jihad terror group, under heavy IDF airstrikes.

National Security Adviser Jake Sullivan spoke with his Israeli counterpart Tzachi Hanegbi on the same day, reaffirming the US’ “ironclad support for Israel’s security.”

Rockets from Gaza on Wednesday, via Reuters.

US Ambassador to Israel Tom Nides at the same time issued a statement backing Israel’s “right to defend itself” but stopped short of mentioning the ratcheting civilian casualty rate. At least 80 Palestinians have been reported injured in addition to the over two dozen killed, as the tit-for-tat strikes continue.

As is typical of these flare-ups in fighting, which hasn’t happened on this large a scale since last August, Egypt is working behind the scenes to achieve a ceasefire. Cairo is reportedly hosting senior Palestinian Islamic Jihad official Mohammad al-Hindi for mediation efforts; however, the Arab side is complaining about “Israeli assassinations” of Islamic Jihad leaders.

Earlier in the day Al Jazeera detailed

The killing of Ahmed Abu Daqqa, a senior commander of Palestinian Islamic Jihad’s armed wing, has brought the number of senior figures from the faction killed to five since Israel began attacking Gaza on Tuesday.

The death toll includes at least four women and six children.

The Israeli military claimed that Abu Daqqa helped oversee rocket launches towards Israel over recent days, as well as in previous rounds of fighting with Islamic Jihad.

“He was assassinated in his home. Four others were critically injured and taken to hospital,” said Al Jazeera’s Youmna El Sayed, reporting from Gaza.

Meanwhile Israeli government and military leaders have vowed to hit Gaza hard so long as Israel remains under threat of rocket barrage. Yesterday witnessed over 100 rockets from fired from the strip, which set off emergency alerts as far away as central Israel and Tel Aviv.

Prime Minister Benjamin Netanyahu vowed the military will continue striking enemies…

“This morning we targeted the commander of the Islamic Jihad’s missile array in Gaza. Now, just an hour ago, we targeted his deputy as well,” said Netanyahu on a visit to a military base.

“I have already said, anyone who comes to harm us — their blood will be on their heads, including anyone who replaces him,” Netanyahu stressed.

He also praised anti-air defense systems and military units, saying they are doing “sacred work” to defend citizens.

It was widely reported yesterday that the medium-range David’s Sling missile defense system successfully intercepted inbound projectiles in its first ever operational use. “We will continue to act defensively and offensively until the end of the campaign,” Netanyahu vowed.

Tyler Durden
Thu, 05/11/2023 – 15:40

Physical Gold Investment Up 5% In First Quarter

Physical Gold Investment Up 5% In First Quarter

Via SchiffGold.com,

Physical gold investment was up by 5% year-on-year in the first quarter.

Investors bought 302 tons of gold bars and gold coins in Q1 with a value of $18.4 billion. This was 14% above the 5-year average, according to the World Gold Council.

The surge in physical gold investment came even as gold prices reached record levels in many currencies.

According to the World Gold Council, persistently high inflation, geopolitical risks, and concern over contagion in the banking crisis fueled demand for gold.

Investors preferred gold in the form of coins in Q1. Demand for gold coins came in at 96.5 tons, a 14% annual increase. Bar demand was 181.9 tons, a 1% decline year-on-year.

Even with the jump in demand year-on-year, first-quarter gold buying did not match Q4’s record high. Higher gold prices encouraged some profit-taking and there were declines in demand in some markets, particularly India and Europe.

Physical Gold Demand By Region

The banking failure in March lit a fuse under US gold bar and gold coin investors. US bar and coin demand came in at 32 tons. It was the fourth-strongest quarter in the World Gold Council’s data series. Gold bar and coin demand jumped 40% from the fourth quarter of ’22 and charted a  4% year-on-year increase.

The US Mint reported rocketing coin sales of 288,000 ounces in March. It was the biggest monthly total since October 1998, when the Y2K safe-haven rush for gold was in full swing.

Q1 bar and coin investment also soared in China during the first quarter. Demand totaled 66 tons. That was a 34% jump year-on-year and a 7% rise quarter-on-quarter.

According to the World Gold Council, “Chinese New Year generated robust demand for gold investment, particularly given the local gold price strength, which outperformed relative to other domestic assets including stocks, bonds and commodities.”

The WGC also said gold buying by the Chinese central bank also drove local interest in the yellow metal.

China ranks as the largest gold market in the world.

In contrast, demand for physical gold in India came in at 34 tons, a 17% year-on-year decline. Record high and volatile local gold prices muted demand. According to the World Gold Council, “The speed and scale of the rise in the local gold price deterred fresh buying and instead encouraged profit-taking for many. Furthermore, the low margins on gold investment products, relative to jewelry, meant that retailers concentrated their promotional efforts on the latter.”

Demand was also muted in Europe. The 38 tons of physical gold purchased in Europe during Q1 was less than half the total recorded in q1 2022 and the lowest quarterly total since the beginning of the pandemic. A big drop in German demand drove overall European demand lower. According to the World Gold Council, “The main trigger for the collapse in investment appears to have been the shift back to positive real rates for the first time in nine years, due to easing inflation and higher nominal rates. The rising euro gold price in January also reportedly encouraged profit-taking, with the net result that demand was more or less zero during the month.”

All markets across the Middle East recorded growth in Q1 bar and coin demand. Regional investment hit 29 tons – a quarterly total that has been exceeded on only three previous occasions.

Also notable is that bar and coin investment in Turkey reached phenomenal levels in the first quarter, breaching 50 tons for the first time on record. Demand increased fivefold year-on-year and was 32% higher than in Q4.

ETFs

While investors rushed into physical gold, gold ETFs continued to see outflows in the first quarter. Globally, 29 tons of gold flowed out of gold-backed ETFs.

But there were signs of a reversal in the trend. For the first time in 10 months, gold flowed into ETFs in March with global gold ETFs recording net inflows of 32 tons.

Funds listed in North America saw gold inflows of 10 tons in Q1. European ETFs charted outflows of 40 tons. Asian funds reported modest outflows of less than 1 ton.

ETFs are backed by physical gold held by the issuer and are traded on the market like stocks. They allow investors to play gold without having to buy full ounces of gold at spot price. Since their purchase is just a number in a computer, they can trade their investment into another stock or cash pretty much whenever they want, even multiple times on the same day. Many speculative investors appreciate this liquidity.

There are good reasons to invest in ETFs, but they aren’t a substitute for owning physical metal. In an overall investment strategy, SchiffGold recommends buying gold bullion first.

Tyler Durden
Thu, 05/11/2023 – 15:40

Just Nuts: History Professor Suspended For Passing Out Candies Marked “HeHim” And “SheHer”

Just Nuts: History Professor Suspended For Passing Out Candies Marked “HeHim” And “SheHer”

Authored by Jonathan Turley,

We often follow controversies at universities over free speech, but this week’s addition can be accurately described as nuts. Madera Community College History Professor David Richardson is under investigation as a possible confectionery reactionary . . . or at least that is what the school appears to be investigating.

Richardson recently gave out candy on campus from Jeremy’s Chocolates labeled “HeHim” (nuts) and “She/Her” (nutless).  

For Richardson, the candies have led to his suspension pending official investigation.

Richardson reportedly brought the candy to an open house event for academic programs. The candy is connected to the conservative Daily Wire, which launched the chocolate brand two months ago in protest of Hershey’s naming “a biological male” as its spokesperson for International Women’s Day.

Richardson said that he had some of the candy left over from an earlier purchase and added them to the “goodies” he has always handed out at the history table for the open house event. That led to a confrontation with a staff member.

Richardson is now banned from “non-public” areas and blocked from his email. He says that he was told that he is under investigation for “serious misconduct.”

He insists that it was just all a joke. That may be part of the problem. The age of rage, however, is a dwindling place for humor. Indeed, even professional comedians have complained that cancel campaigns have virtually banned them from campuses.

Richardson told Just in the News that he was informed that the candies reflected a human sexual binary view that was considered a violation of school policies and created a “hostile work environment.” He said that he was also accused of harassing and discriminating against colleagues “based on gender.”

The site reported that Richardson, who describes himself as a gay conservative,  is already suing over sanctions for comments made during a mandatory October 2021 “pronoun etiquette” seminar led by transgender chemistry professor Jamie MacArthur.

The incident involved  participants being given a “small thumbnail” with fields for their name and gender identity. Richardson jokingly put “Do, Re, Mi” to register his view that the “irrational perception of reality … would frustrate communication for ideological reasons,” according to his complaint.

MacArthur objected later that the “joke” was “extremely offensive” to transgender people. Richardson responded by using “Do, Re, Mi” as his pronouns while addressing MacArthur as “they,” MacArthur’s preferred pronouns.

After a six-month “investigation,” the school found that MacArthur intentionally used “second- and third-person pronouns in a mocking manner” and sought to intimidate MacArthur when Richardson copied others on a response. In addition to a letter of official reprimand, Richardson was ordered to “immediately stop using pronouns in a mocking manner in the workplace” though the school did not define “mocking” conduct.

It is not clear if the school views the candy as a “mocking” incident for a professor effectively on probation from the earlier joke.

Richardson was also ordered to take diversity, equity and inclusion training. Finally, he maintains that he was told to submit a written response on what he learned and how he can “create a more inclusive environment that does not center on homophobia or transphobia” in his home and “religious group.”

Richardson clearly has political and social objections to pronoun policies, a view shared by some academics. There is litigation across the country on the issue involving both students and faculty. Some have been successful or settled in favor of the right to refuse to use such pronouns, including a favorable ruling by the United States Court of Appeals for the Sixth Circuit in a case involving a college professor. However, the United States Court of Appeals for the Seventh Circuit recently upheld the termination of a high school teacher who refused to comply with such a policy.

Pronouns are fast fading from common discourse under the threat of pronoun penalties. Indeed, many faculty members try to avoid using pronouns altogether in class, rather than look up a student’s designated pronoun. Confirming the right pronouns can be challenging in the middle of a fast-moving class. Students today identify from a growing list of gender identities including, but not limited to, genderfluid, third-gender, amalgagender, demigender, bi-gender, pansgender, and a-gender. Pronouns can include, but are not limited to: He/She, They/Them, Ze/Hir (Ze, hir, hir, hirs, hirself), Ze/Zir (Ze, zir, zir, zirs, ze), Spivak (Ey, em, eir, eirs, ey), Ve (Ve, ver, vis, vis, verself), and Xe (Xe, xem, xyr, xyrs, xe).

This case is interesting because it involves a candy bowl as a vehicle of alleged prohibited speech. Richardson insists that he was just getting rid of excess candy but the bars were also a political statement. There are two immediate questions in the case. First, there is the right of Richardson to refuse to comply with pronoun policies. Second, there is the question of the right to publicly question (and, yes, “mock”) such policies.

The position of the school is unclear. Richardson was acting as a representative of the history department. However, it is not clear whether a candy with an opposing humorous political message would have been the subject of disciplinary action.  For example, would a professor be disciplined for joking about those with binary views in class or at an open house? Likewise, could Richardson post an objection to the policy as a matter of academic freedom, as some have done over policies like land acknowledgments?

This is likely to lead to further litigation for both Richardson and Madera Community College. Indeed, Professor Richardson could elect to respond in the same way that Gen. Anthony McAuliffe responded to a demand for surrender in the Battle of the Bulge:

Tyler Durden
Thu, 05/11/2023 – 13:25