US Demands Qatar Expel Hamas If Group Rejects Israeli Truce Deal

Via The Cradle

US officials have told Qatar to expel Hamas’ political leadership if the Palestinian militant group rejects the latest proposal for a ceasefire with Israel, The Washington Post reports Saturday. A US official speaking on the condition of anonymity with The Post said that US Secretary of State Antony Blinken delivered the message to Qatari Prime Minister Mohammed bin Abdulrahman Al-Thani in April.

Three diplomats familiar with the matter said Qatari officials have expected the request for months, as ceasefire talks mediated by Qatari and Egyptian officials have repeatedly failed. Qatari officials have advised Hamas officials to prepare to depart for another country should they be forced to leave, one of the diplomats told The Post. Some have speculated that Turkiye may be a possible future host of the group.

Emir Tamim bin Hamad al-Thani (R) in a meeting with Hamas official Khaled Mashal in Doha, Qatar govt handout

Doha has hosted Hamas’ political leadership, including Ismail Haniyeh, at the US’ request since 2012 and provided billions in cash to the Hamas authorities governing Gaza in recent years with the approval of the US and Israel. 

However, Qatar has come under criticism from US and Israeli officials since Hamas launched Operation Al-Aqsa Flood on 7 October. During the operation, Hamas attacked Israeli military bases and settlements to break the 17-year siege on Gaza. Some 1,200 Israeli civilians and soldiers were killed, including some by Hamas and others by Israeli forces, which used attack helicopters, tanks, and drones in their own settlements (kibbutzim) to respond to the operation.

Hamas also took some 240 Israelis captive, of which roughly 100 remain alive in Gaza, to exchange for some of the thousands of Palestinians held captive in Israeli jails. 

The White House has sought to use the threat of expelling Hamas from Qatar as leverage in ceasefire negotiations. Israeli Prime Minister Benjamin Netanyahu wants the return of the Israeli captives without offering a permanent end to the war in return. 

Netanyahu has long insisted that Israel only agree to a temporary ceasefire in exchange for the return of the Israeli captives, after which the army would be allowed to resume the war on Gaza, which he claims is meant to eliminate Hamas. Hamas has rejected the idea of a temporary ceasefire in hopes of ending the war permanently and winning the return of displaced Palestinians from northern Gaza to their homes, though many have been destroyed by Israeli bombing.

After seven months of war, the Israeli army has succeeded in killing a reported over 34,000 Palestinians, including over 14,000 children according to Gaza Health Ministry casualties, and has laid waste to large swathes of Gaza’s cities and farmland. However, the army has not defeated Hamas, whose fighters continue to carry out operations against occupying Israeli troops. 

Netanyahu has also used the threat of an all-out invasion of Rafah, the city on the Egypt border where over 1 million displaced Palestinians are sheltering, as leverage to force Hamas to agree to a ceasefire and prisoner exchange on Israel’s terms. 

Blinken returned to Israel this week in hopes of pressuring Hamas to agree to the latest Israeli proposal. "We are determined to get a ceasefire that brings the hostages home and to get it now, and the only reason that wouldn’t be achieved is because of Hamas," Blinken said Wednesday in Tel Aviv. "There is a proposal on the table, and as we’ve said: no delays, no excuses. The time is now." A Hamas delegation is expected to visit Cairo this weekend, potentially to respond in writing to Israel’s latest proposal, Reuters reported Friday.

Major Israeli strike have continued to rock Gaza this week:

BREAKING: MAJOR ISRAELI AIRSTRIKES ON NORTHERN GAZA RIGHT NOW pic.twitter.com/pxoc2eFhqb

— Sulaiman Ahmed (@ShaykhSulaiman) May 3, 2024

As negotiations have dragged on, US officials and lawmakers have blamed Qatar for its failure to force Hamas to agree to a deal. Some US lawmakers have called on the White House to force Qatar to not only expel the Hamas leadership but to cut ties with the group entirely.

However, some analysts say expelling Hamas from Qatar will not assist Israel. "Applying pressure to Hamas in Doha is ineffective pressure," an official briefed on the talks said. "The problem is the guys making the decisions are in Gaza, and they don’t care where the political office is located," this person said.

Patrick Theros, a former US ambassador to Qatar, told The Post that kicking Hamas out of Qatar would simply sabotage the current talks further. "We’d be cutting off our nose to spite our face," he said.

Qatari officials have expressed frustration for the criticism they are receiving, simply for doing what the US had requested of them. "We did not enter into a relationship with Hamas because we wanted to. We were asked by the U.S.," Majed al-Ansari, adviser to the Qatari prime minister and spokesperson for Qatar’s Foreign Ministry, stated last week to Israeli media.

"Qatar is being used as a political punching bag for those who are looking either to safeguard their political futures or to find more votes in the next elections," he said in response to US and Israeli criticism.

Tyler Durden Sat, 05/04/2024 - 17:30

Bitcoin ETFs See Buying Resurgence; 'Mr.100' BTFD As Grayscale Sees First Inflow Since Jan

For the first time since spot bitcoin ETFs were launched, Grayscale's Bitcoin Trust ETF (GBTC) saw a daily net inflow on Friday (of $63 million)...

Source: Bloomberg

GBTC has dominated the outflows since inception (adding up to around $17.5 billion) since the 11 spot ETFs were launched on Jan 11. The inflow coincided with a sudden surge in aggregate net inflows to ETFs overall of $378 million on Friday (which came two days after a record net outflow of $563 million)...

Source: Bloomberg

CoinTelegraph's Ciaran Lyons reports that pseudonymous crypto investor DivXman told his followers that the GBTC was the “primary source” of sell pressure across all spot Bitcoin ETFs, but “the tides” could be turning.

“That effectively means a significant decrease in sell pressure and additional increase in demand while ETFs collectively are buying more BTC than miners can create,” he explained to his 20,800 X followers in a May 3 post.

Crypto trader Jelle predicted to his 80,300 X followers on the same day that Bitcoin’s new all-time high is on the horizon.

“60 million dollars worth of inflows for Grayscale’s ETF. The halving chop will come to an end, and 6-figure Bitcoin will follow shortly after.”

Bitcoin's price responded to this sudden inflow surprise and rallied back above $64,000, erasing the outflow-driven plunge from last week...

Source: Bloomberg

This price rise corresponded to a big short liquidation in the past 24 hours...

Source: CoinGlass

Additionally, CoinTelegraph reports that bitcoin whale entity nicknamed “Mr. 100” has bought the Bitcoin dip for the first time since the Bitcoin halving.

Meanwhile, multiple market analysts suggest that the local Bitcoin bottom may be in as the price bounces from $56,000 lows.

The Mr. 100 whale wallet has added over 4,100 BTC worth over $242 million, around the $58,000 mark, according to on-chain data from Bitinfocharts, as noticed by X user HODL15Capital.

This represents the wallet’s first Bitcoin purchases since April 19, the day before the 2024 Bitcoin halving.

The wallet has been adding at least 100 BTC nearly every day since Feb. 14, except for the post-halving period.

Mr. 100 is currently the 12th-largest Bitcoin holder, with over 65,155 BTC, according to Bitinfocharts data.

Finally, another even-larger 'whale' is Michael Saylor at MicroStrategy, delivered a masterclass on corporate finance and the power of bitcoin to supercharge corporate balance sheets. Saylor made a point to emphasize Bitcoin as the single solution for capital appreciation in an inflationary environment.

The MicroStrategy Executive Chairman noted key differences between Bitcoin and alternative cryptocurrencies like Ethereum, expressing the importance and necessity of proof-of-work-based consensus in creating a digital commodity.

“You could see the writing on the wall when the spot ETF of Bitcoin was approved in January. By the end of May, you'll know that Ethereum is not going to be approved. And when Ethereum is not going to be approved, sometime this summer it'll be very clear to everyone that Ethereum is deemed a crypto asset security, not a commodity. After that, you're going to see that [for] Ethereum, BNB, Solana, Ripple, Cardano – everything down the stack.”

Saylor’s conviction and use of physics-based metaphors were present as ever as he spoke on Bitcoin’s price appreciation and continued monetization.

“It's never declining. The chart's not ever decreasing. It only goes one way. Bitcoin is a capital ratchet. It's a one-way ratchet. Archimedes said, give me a lever long enough and a place to stand and I can move the world. Bitcoin is the place to stand.”

“There's no more powerful idea than the digital transformation of capital… No force on earth can stop an idea whose time has come. This is an idea. Its time has come. It's unstoppable. And so I'm going to end with the observation that Bitcoin is the best. The best what? The best.”

Saylor is an outspoken proponent of BTC and a leading force behind MicroStrategy acquiring the cryptocurrency as a reserve asset. As of April 30, the firm held 214,400 BTC - worth more than $13 billion at the time of publication.

Tyler Durden Sat, 05/04/2024 - 16:55

Governments Cause Inflation And Hurt Bond Investors

Authored by Daniel Lacalle,

The Fed’s preferred inflation measure rose 2.8% in March from a year ago. This is the core personal consumption expenditures price index, excluding food and energy, which should be less volatile than the consumer price index and a better indicator of the real process of disinflation.

This figure is not only concerning, considering the propaganda that repeats that the fight against inflation is nearing its conclusion, but it becomes even more so when we observe the upward trend over the last three and six months. Inflation has accelerated on a quarterly and half-year basis.

As E.J. Anthony, PhD economist, points out, “there was never any indication we were heading to the 2.0% inflation target, let alone the pre-pandemic 1.8% average; we’ve arrived at 3%+ with no indication we’re going significantly lower anytime soon, not with the current levels of Treasury borrowing and Fed allowing money supply growth.”

We need to understand why inflation is not falling as promised and announced.

There is no such thing as cost-push inflation

Fiscal policy has been reckless, and enormous deficit spending is fueling inflationary pressures through unnecessary government consumption of newly created currency.

Government spending is printing new units of currency and inflation is caused by issuing more than what the private sector demands, thus making the purchasing power of money decline.

There is no such thing as cost-push inflation, greedflation, or commodity inflation.

None of those factors can make aggregate prices rise, consolidate, and continue increasing on an annualized level.

Furthermore, if cost-push or supply chain disruptions were the cause of inflation, we would have deflation today, not rising aggregate prices every month.

Governments created the inflation burst of 2021 and have not only ignored fiscal responsibility but, in the case of the United States, maintained a completely unhealthy and unrequired budget deficit

Governments are destroying the purchasing power of money and perpetuating inflation. They created the inflation burst of 2021 and have not only ignored fiscal responsibility but, in the case of the United States, maintained a completely unhealthy and unrequired budget deficit.

“An upsurge in money growth preceded the inflation flare-up, and countries with stronger money growth saw markedly higher inflation,” concluded Claudio Borio in a scholar paper in 2023 (“Does money growth help explain the recent inflation surge?”, BIS Bulletin No. 67, January 26, 2023).

Doctors Juan Castañeda and Tim Congdon already warned as early as June 2020 that “the policy reaction to the COVID-19 pandemic will increase budget deficits massively in the world’s leading countries. The deficits will largely be monetized, with heavy state borrowing from both national central banks and commercial banks. The monetization of budget deficits, combined with official support for emergency bank lending to cash-strained corporates, is leading to extremely high growth rates of the quantity of money,” and these “will instigate an inflationary boom” (Inflation: The Next Threat? Institute of Economic Affairs, Briefing 7, June 2020).

Inflation is a policy

Inflation is not a coincidence or a fatality; it is a policy. Governments tend to announce large-scale spending programs to combat inflation.

These policies accelerate money velocity in a recovery, particularly after a shutdown like the one of 2020, as well as the quantity of money in the system.

Thus, inflation rises rapidly. The only way to contain the inflation burst is to cut spending and reduce the quantity and growth of money. However, although central banks have announced so-called restrictive policies, reality has shown the opposite.

The quantity of money in the system has not been reduced. Money supply measured as M2 has declined, and the balance sheet of the Federal Reserve has diminished, but these forces have been entirely offset by net liquidity and money market funds.

As government spending and deficit have not fallen at all, but rather the opposite, the economy has been flooded with the post-waves of the first money growth impact (2020), its market and net liquidity effect, and rising public expenditure with annual deficits close to $2 trillion.

The quantity of money has not been reduced

The Federal Reserve has increased rates, but that only helps moderate the growth of money, not eliminate inflationary pressures.

Furthermore, as markets immediately discounted large rate cuts in 2024, the real effect on money growth has been just to postpone the inevitable future monetization of such enormous deficits. It has become a Call option on a forthcoming new quantitative easing program.

We cannot forget that the quantity of money has not been reduced due to another relevant factor.

The Federal Reserve has multiplied its support for the troubled banking sector via the discount window, which offsets the modest reduction in the Fed balance sheet.

Instead of attacking inflation, the so-called “Inflation Reduction Act” has perpetuated the destruction of the value of the currency issued

By purchasing the sovereign bonds in the banks’ balance sheets at par despite the collapse in price, the Fed was inadvertently printing new money and sabotaging its own restrictive measures.

The misguided Keynesian policies implemented by the US government have cancelled out the Federal Reserve’s balance sheet reduction and rate hike efforts.

The Treasury injected more than $2 trillion per annum in liquidity, creating new money, counteracting the net $1.6 trillion that the Fed retired in three years from its balance sheet.

Therefore, the impact on the purchasing power of the currency through inflation has been negative. Instead of attacking inflation, the so-called “Inflation Reduction Act” has perpetuated the destruction of the value of the currency issued.

The impact on markets

The impact on markets has been phenomenal. The yen, once a stable currency perceived as a haven for investors, has fallen to a 35-year low versus the US dollar.

The Bloomberg index of globally expanded major currencies and the emerging markets indicator have both fallen.

The result of the 2020–2024 “free money” wave was a very expensive destruction of real wages and deposit savings.

Furthermore, bonds have been obliterated and the latest data shows that the aggregate US and euro area bond indices have not recovered from the past years’ slump, and even going back to 2020, the indices are showing negative returns.

Only the high yield index has shown a positive performance in the past four years, albeit a meager 4.5%.

Governments are destroying the currency that they issue in all possible ways. Through persistent inflation, making wage earners and middle-class deposit savers poorer, with rising taxes to try to reduce a budget deficit that was bloated by unnecessary spending in a recovery, and through the destruction of the safest asset, bonds, that have become a bad investment for the most conservative investors, pension funds.

The only way in which inflation will be reduced will be if the Federal Reserve abandons its decision to cut rates and starts to take measures that drain net liquidity.

Without the support of the Treasury, this is impossible because it floods the market with new money even if monetary policy is restrictive and investors simply discounts that all those newly issued currency units will be monetized somehow in the future.

It does not matter if Powell promises restraint when Yellen pushes excess. The most conservative bondholders will only start to see positive returns when the Treasury stops destroying the currency’s value. It does not seem likely anytime soon.

Tyler Durden Sat, 05/04/2024 - 16:20

Gaza Pier Delayed Over Rough Seas, Pentagon Calls Project "Extremely Challenging"

This week has seen statements and reports indicating the US military constructed humanitarian pier on Gaza's coast is expected to be complete by some point this weekend. 

But the $320 million project has hit another snag, as the Pentagon has said its soldiers and engineers were forced to "temporarily pause" the offshore assembly of the floating pier due to bad sea conditions in the eastern Mediterranean. So a finish date by this weekend appears unrealistic at this point, based on the Friday announcement.

US Navy personnel construct a ‘Joint Logistics Over-the Shore’ temporary pier. Image: CENTCOM via Reuters

"The partially built pier and military vessels involved in its construction have moved to the Port of Ashdod, where assembly will continue, and will be completed prior to the emplacement of the pier in its intended location when sea states subside," CENTCOM said in a statement. 

So now the US personnel constructing it have moved to Israel. Presumably once the floating pier is completed it will be moved by sea back to the northern Gaza coast in preparation for maritime aid deliveries. 

The pier is expected to allow “the delivery of large quantities of humanitarian aid from ship to shore by truck, with vehicles driving directly off ships and across the temporary pier to a marshaling yard ashore," per the US military statement.

According to more details of what could prove to be cause of more continued pauses and delays:

Defense officials previously hoped that the JLOTS system would be fully built by Friday. But officials told CNN that sea state conditions have been extremely challenging off the coast of Gaza over the last week, impeding the work of the personnel involved in building the pier. One of the key tasks, for example, involves military divers working underneath the pier to ensure all the parts are secured and stable — a difficult and dangerous task when the seas are rough.

The operation of the pier and causeway, which will also require US military personnel to be stationed at sea, will also depend on weather conditions, officials say. 

Meanwhile famine has hit parts of the Gaza Strip, USAID said starting last month. There are also still lingering fears that once complete the pier and personnel working it could come under attack by Palestinian militants.

On Tuesday Secretary of Defense Lloyd Austin made a surprise admission for the first time. It came during a hearing of the House Armed Services committee, and specifically when Rep. Matt Gaetz of Florida grilled him on whether US servicemen will be placed in harm's way during the construction of the project in Gaza.

Update on the Construction of the Joint Logistics Over-the-Shore capability in Mediterranean Sea

Yesterday, U.S. Central Command (CENTCOM) temporarily paused offshore assembly of the floating pier in the vicinity of Gaza due to sea state considerations. Forecasted high winds and… pic.twitter.com/cIY2TUn7NX

— U.S. Central Command (@CENTCOM) May 3, 2024

Austin answered in the affirmative, and further said that troops erecting the pier will be armed and that they will be authorized to fire back if fired upon. It must be recalled that just last week a visiting delegation of UN officials came under mortar fire from Palestinian militants. Hamas has further warned that any foreign military presence on Gaza soil will come under attack. 

* * *

Below is more from the tense Congressional exchange: 

Gaetz: This is a very telling moment, Mr. Secretary, because you've said something that's quite possible, that could happen, right? Shots from Gaza on our service members, and then the response our armed service members shooting live fire into Gaza. That is a possible outcome here so that we can become the Port Authority and run this pier. Right?

Austin: That's correct. And I expect that we will always have the ability to protect themselves.

Gaetz: Don't you think that counts as boots on the ground? President Biden told the country that we weren't going to have boots on the ground in Gaza.

Austin: And we won't

Gaetz: Okay, but you guys parse the distinction between... Like when Americans think boots on the ground, they think Americans in harm's way or engaged actively in a conflict. You guys seem to be sort of saying that boots on a pier, connected to the ground, connected to service members shooting into Gaza doesn't count as boots on the ground?

Austin: It does not.

Gaetz: I think you're gonna find the the American people have a different perspective on that. And if we're gonna have people shooting into Gaza, we probably should have a vote on that, pursuant to our war powers.

Tyler Durden Sat, 05/04/2024 - 15:45

Long Beach Hotel Housing 'Homeless' Sparks Tuberculosis Outbreak As Health Emergency Declared

A health crisis has emerged for Democrat officials in Long Beach, California, following a tuberculosis outbreak linked to a hotel housing 'homeless' people, according to Fox News. 

On Thursday, health officials declared a public health emergency after an alarming tuberculosis outbreak was reported at an unnamed hotel housing. 

The city has so far confirmed 14 cases of tuberculosis in people "associated with a single room occupancy hotel." Nine of them were hospitalized with one fatal case. Another 170 people were "likely exposed" to the deadly bacteria. 

"The outbreak is currently isolated to a distinct population and the risk to the general public is low," the city said, adding, "The population at risk in this outbreak has significant barriers to care, including homelessness and housing insecurity, mental illness, substance use and serious medical comorbidities."

The reason health officials declined to name the hotel or its location is to comply with Health Insurance Portability and Accountability Act regulations. 

One X user said, "I believe the name of the hotel SHOULD BE DISCLOSED in the interest of traveler safety. OR does this mean the hotel is used to house illegal aliens invading our border? Long Beach declares public health emergency after deadly tuberculosis outbreak." 

I believe the name of the hotel SHOULD BE DISCLOSED in the interest of traveler safety. OR does this mean the hotel is used to house illegal aliens invading our border? Long Beach declares public health emergency after deadly tuberculosis outbreak https://t.co/jTe7fpuR2R

— Judy Holiday (@msjudyholiday) May 3, 2024

The question now becomes if Long Beach officials were housing illegal migrants in the hotel... 

If so, this isn't the first time unvaccinated and undocumented illegal aliens have sparked infectious disease outbreaks in hotels and shelters nationwide. 

 

Tyler Durden Sat, 05/04/2024 - 14:35

Hamas-Israel Truce To Free Hostages Said To Be Closer Than Ever

Rumors are flying Saturday that Hamas and Israel are closer than ever to finally reaching a truce deal that would center of the release of more Israeli hostages, and the freeing of Palestinian prisoners in Israeli jails.

"Negotiations for a potential hostage deal and truce in Gaza appeared to reach a critical moment Saturday, with Hamas set to offer its response to the latest proposal, and Israel indicating an offensive in the city of Rafah could be imminent if no agreement is reached," Times of Israel reports.

Separately Haaretz is reporting based on regional Arab sources that Hamas has in essence already accepted a deal. The last hours of Egyptian and Qatari mediated talks have reportedly seen significant progress.

However, this key caveat could make all of the current Saturday headlines premature: 

An Israeli official told Haaretz that 'Israel will, under no circumstances, agree to end the war as part of a deal' and is determined to enter Rafah.

But Haaretz is also saying that "Hamas was guaranteed by the U.S. for a full Israeli withdrawal from the Gaza Strip and that Israeli forces will not continue fighting once the hostages are released."

Picture Alliance via Getty Images

The problem with this is that given PM Netanyahu's latest and consistent rhetoric vowing to not halt the operation until Palestinian terrorists in the Strip are eradicated, a full IDF withdrawal still seems unrealistic.

Starting Friday Israeli leaders said they were giving Hamas one week to agree to the deal on the table or else a full-scale assault of Rafah will begin. 

Less than 40 hostages are expected to be freed as part of the deal - it would focus on the remaining children, elderly, and the sick.

One Israeli official told Haaretz that the government is "waiting anxiously to see Hamas' final position."

But the source cautioned, "The information has not yet arrived, but in light of past experience, even if Hamas says it's following the suggested framework, the small details and reservations it'll eventually present may dissolve the whole deal."

This is precisely what has happened to prior rounds of negotiations which were believed to be at the finish line. They blew up at the last moment over specific details, typically involving wrangling over the names on the hostage release list.

Tyler Durden Sat, 05/04/2024 - 14:00

Europe Scraps Net Zero, Biden Should But Won't, Why?

Authored by Mike Shedlock via MishTalk.com,

“Unaffordable climate commitments have two leftist British parties racing to exit stage left.”

Europeans Ditch Net Zero

The Wall Street Journal reports Europeans Ditch Net Zero, While Biden Clings to It

You know you’ve stumbled through the looking glass when European politicians start sounding saner on climate policy than the Americans do. Well here we are, Alice: Europeans are admitting the folly of net zero quicker than their American peers.

The latest example—perhaps “victim” is more apt—is Humza Yousaf, who resigned this week as Scotland’s first minister. That region within the U.K. enjoys substantial devolved powers over its own affairs, including on climate policy. An administration led by Mr. Yousaf’s left-leaning Scottish National Party had hoped to rush ahead of the national government in London in slashing carbon emissions.

Until, that is, someone noticed the costs. A recent report from the U.K.’s Climate Change Committee noted Scotland had fallen far behind on its climate goals. The government aimed to reduce by 20% the aggregate distance driven by Scottish motorists, compared with 2019 levels, but had no plan to accomplish the reduction in personal mobility by the 2030 deadline. To get back on track with the government’s goal of a transition to home electric heat pumps, Scotland would have to replace natural-gas fire boilers at a rate of more than 80,000 households a year by the end of the decade. That’s a big ask considering that in 2023 it managed 6,000 boiler replacements. The government resisted imposing an aviation tax to discourage excess flying. And so on.

Mr. Yousaf did the only thing he could under the circumstances: He all but abandoned net zero. His administration announced it is ditching firm annual emission-reduction targets in favor of fuzzier “carbon budgets.” The Green Party, with which Mr. Yousaf’s SNP governed in a coalition, balked. After a series of political machinations that were one part “Macbeth” and two parts “Comedy of Errors,” Mr. Yousaf’s administration collapsed and he was forced to resign.

Observe two salient details. First, the specific list of targets the country was missing. Scotland had reached the point where further net-zero progress would have made obvious and material demands of household budgets. That isn’t counting the additional costs of renewable power hidden in utility bills.

I have discussed the above ideas many times. There are farm protests in nearly every country on the main continent and Greens are likely to get clobbered hard in the European Parliament elections in June.

What About the US?

The Journal reports “The puzzlement is that the U.S. is headed in the opposite direction. President Biden is pressing ahead with aggressive net-zero policies such as an electric-vehicle mandate and pouring trillions of dollars of borrowed government and hard-earned household money into climate boondoggles.“

There is no puzzle. Biden is owned 100% by the Progressives.

They control climate policy, regulations, student loans, abortion, everything.

Please note Biden Promotes Climate Change at the Expense of More Global Poverty

The mad rush to deal with climate change, even if it works (it won’t), has a nasty tradeoff (more global poverty).

Biden will not do anything to offend the Progressives, even if it means he loses the election over it.

Tyler Durden Sat, 05/04/2024 - 11:40

Israeli Industry Braces For Economic Damage Amid Turkish Trade Ban

Via Middle East Eye

Sectors across the Israeli economy are warning of wide-reaching impacts of Turkey’s decision to halt all trade with Israel, and are scrambling to find alternative sources for lost imports.

The Turkish trade ministry announced earlier this week that Ankara is halting all import and export transactions related to Israel until it "allows an uninterrupted and sufficient flow of humanitarian aid to Gaza." The ban on imports includes iron and steel products, construction materials, minerals, machinery, cars, energy products, rubber, plastics, health and agricultural products.

The construction industry is bracing for the loss of Turkish iron and steel products and building materials, as Turkey supplied 29 percent of Israel's total cement imports last year.

Construction work on the settlement of Tzofim, east of the Palestinian West Bank village of Qalqilya, on 2 January 2024 (AFP)

Last month, Israeli businessmen warned that the restrictions could drive an increase in property and rent prices. Meanwhile, Israel’s largest oil refinery, Bezan, said the ban could impact crude oil imports. 

Forty percent of Israel’s annual oil consumption is piped to the Turkish oil hub port of Ceyhan and then shipped to Israel.

Moreover, representatives of the electrical products industry are warning that the ban could lead to a 35 percent hike in prices, as the majority of domestic electrical goods in Israel are manufactured in Turkey. 

The new restrictions could force importers to import across the Red Sea, where attacks by Yemen's Houthi group have driven a spike in shipping costs.

'Dire straits'

In April, the contractors' association wrote a letter to Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich, accusing them of driving the sector to the brink of collapse.

Amit Gottlieb, chairman of the Urban Renewal Committee in the Israel Builders’ Association (ACB), said the Israeli construction industry was already in "dire straits" since Israel’s war on Gaza began, due to labor shortages resulting from Israel’s ban on Palestinian workers.

He added that alternative imports of construction materials from Germany, Great Britain, the Czech Republic, Hungary and Greece needed to be arranged "as soon as possible".

Turkey’s exports to Israel were worth $5.4bn in 2023, or 2.1 percent of its total exports, according to official data. From 2009 to 2023, trade between the two countries nearly tripled. By the end of that period, Turkey had become the fifth-largest supplier of goods imported by Israel, while Israel ranked as Turkey's 10th-largest export market, based on data from the Central Bureau of Statistics.

On Thursday, Israel’s foreign minister, Israel Katz, accused Turkey’s President Recep Tayyip Erdogan of ignoring international trade agreements and acting like a "dictator". He added that Israel would seek to replace the lost Turkish imports with locally produced goods or imports from other countries.

Tyler Durden Sat, 05/04/2024 - 08:10

UK Vows To Arm Ukraine For 'As Long as It Takes' - Commits $3.7BN Annually

The UK has committed to what might be called 'forever aid' in Ukraine's defense, with British Foreign Secretary David Cameron newly promising $3.74 billion of annual military aid for Kiev for "as long as it takes".

He unveiled the plan Thursday, and it marks the biggest commitment in foreign defense aid rollout for Britain thus far in the war (and perhaps in all of history), coming on the heels of the Biden administration also seeking to erect a 10-year plan to assist Ukraine which theoretically would lock in future US presidents as well.

AFP/Getty Images

"We will give 3 billion pounds every year for as long as is necessary. We've just really emptied all we can in terms of giving equipment," Cameron told Reuters in an interview on a visit to the Ukrainian capital.

"Some of that [equipment] is actually arriving in Ukraine today, while I'm here," he said. Alarmingly, he openly stated that the British government has no problem with Ukrainian forces using UK weapons to strike at targets inside Russian territory.

"Ukraine has that right. Just as Russia is striking inside Ukraine, you can quite understand why Ukraine feels the need to make sure it's defending itself," Cameron said.

"It's absolutely crucial, not just in terms of the weapons it will bring, but also the boost to morale that it will bring to people here in Ukraine," the UK top diplomat continued in the remarks given upon his second visit to the war-ravaged country as foreign secretary.

Cameron was at one point asked whether a potential future Trump administration could negatively impact the flow of aid to the Zelensky government.

He responded: "It's not for us to decide who the Americans choose as their president. We will work with whoever that is." NATO officials have reportedly been attempting to "Trump-proof" any future aid.

Last Sunday, Zelensky himself signaled as much in a nightly video address, saying that he's working with Washington on a bilateral security agreement which would last ten years. "We are already working on a specific text," Zelensky said in his nightly video address. "Our goal is to make this agreement the strongest of all."

"We are discussing the specific foundations of our security and cooperation. We are also working on fixing specific levels of support for this year and the next 10 years."

"If you can't give enough weapons to Ukraine, how are you gonna win against China" - Kuleba pic.twitter.com/d3sCiB4Tgz

— War Intel (@warintel4u) May 2, 2024

He indicated it will likely include agreements on long-term support centering on military hardware and joint arms production, as well as continuing reconstruction aid. "The agreement should be truly exemplary and reflect the strength of American leadership," Zelensky added.

But as we've been detailing, Ukraine's problem currently is not fundamentally a question of funding or weaponry, but of manpower. Soon it may not have enough troops to operate the sophisticated weaponry being shipped in by the West, given the daily bad news from the front lines.

Tyler Durden Sat, 05/04/2024 - 07:35

Scientists Backtrack, Admit Proposed Virus Experiments Could Have Been Done In China

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Scientists with close ties to China and the U.S. government is now saying that risky experiments he proposed—which some experts believe could have led to the creation of SARS-CoV-2—may have been done, deviating from earlier statements.

Peter Daszak, president of the EcoHealth Alliance, testifies before the Select Subcommittee on the Coronavirus Pandemic in Washington, on May 1, 2024. (Madalina Vasiliu/The Epoch Times)

Another scientist involved in the proposal also says he doesn’t know if the work was done.

“To the very best of my knowledge ... the work hasn’t been done,” Peter Daszak, president of the EcoHealth Alliance, told a congressional panel this week.

Mr. Daszak, however, admitted that he doesn’t know whether scientists at the Wuhan Institute of Virology (WIV) in China have done the proposed experiments.

“Do you know if the WIV started this work?” he was asked during a U.S. House of Representatives Select Subcommittee on the Coronavirus Pandemic hearing in Washington.

“No,” Mr. Daszak replied.

“Then you can’t say that the work was not done,” Mitch Benzine, the staff director for the panel, said.

“There is no evidence of the work being done. There is no evidence that WIV started it,” Mr. Daszak said.

Has he ever asked Shi Zhengli, a top scientist at the WIV, whether she carried out the proposal?

“No,” Mr. Daszak acknowledged.

The proposal in question, dubbed Project DEFUSE, was submitted in 2018 to the U.S. government as EcoHealth and its partners, including WIV, sought to take viruses from bats, reverse engineer them, and add features. Some outside scientists say the proposed work could have led to the creation of SARS-CoV-2, the virus that causes COVID-19.

The Defense Advanced Research Projects Agency (DARPA) declined to fund the proposal, expressing concerns that adding features to coronaviruses could create a dangerous virus.

After the proposal was leaked to the public in 2021, Mr. Daszak and EcoHealth have said definitively that the proposed experiments never took place.

“The DARPA proposal was not funded. Therefore, the work was not done. Simple,” Mr. Daszak told The Intercept in 2022.

“The proposed research was never done,” EcoHealth added in a recent statement.

Ralph Baric, a University of North Carolina virologist who was also listed in the DEFUSE proposal, also said in newly disclosed testimony that he did not know whether the proposed experiments were conducted.

“Certainly not by my group,” Mr. Baric told the subcommittee. “I don’t know what China did.”

Mr. Baric and Ms. Shi have created chimeras, or combination viruses, among other work together.

“There was no evidence that they were doing this kind of work,” Mr. Baric said. “Well, there was evidence that they were building chimeras using WIV1 as a backbone, so they were doing some discovery work about the functions of spike genes of zoonotic strains that they discovered later on, but I don’t know if they did any of the engineering or anything.”

WIV1 is a bat coronavirus that was found in China.

Mr. Baric also claimed he had forgotten about DEFUSE so he didn’t discuss it while meeting with Dr. Anthony Fauci, a top U.S. government official, on Feb. 12, 2020.

Mr. Daszak said Wednesday that DARPA later returned to EcoHealth “to try and fund portions” of DEFUSE, but no lawmakers pressed him on that disclosure.

‘They’ve Always Been Truthful’

EcoHealth separately for years funneled grant money from the U.S. National Institutes of Health (NIH) to Wuhan researchers, including money that funded experiments that increased the virulence of a bat coronavirus.

Asked how his group verified information about those experiments, Mr. Daszak acknowledged it relied on statements from the WIV. “I have no other way to verify,” he said.

The scientists in Wuhan “have always been honest with us,” he added later. “They’ve always been truthful. There’s never any untoward, underhand things going on. I have no reason to think that they were under pressure to lie. There’s no indication of that.”

After the pandemic started, WIV researchers refused to hand over laboratory notebooks and other files to EcoHealth after the U.S. government asked for the records, resulting in the government debarring WIV from receiving U.S. grant money.

“Nearly two years have passed since the NIH first requested that WIV provide the requested information and materials, and yet WIV has still failed to do so,” a debarment official wrote to Ms. Shi.

In comments on a draft of the DEFUSE proposal, Mr. Daszak said that some of the work would be done at the Wuhan lab.

“If we win this contract, I do not propose that all of this work will necessarily be conducted by Ralph, but I do want to stress the US side of this proposal so that DARPA are comfortable with our team,” Mr. Daszak wrote in one comment. “Once we get the funds, we can then allocate who does what exact work, and I believe that a lot of these assays can be done in Wuhan as well.”

Mr. Daszak told Mr. Baric in a May 27, 2021, email released by the subcommittee that Ms. Zhengli said culturing of animal viruses was being done under biosafety level two conditions, or one level below that applied in many other countries.

“We checked with Zhengli, who let us know that she used ‘BSL-2 with negative pressure and appropriate PPE.’ I also know that they are stricter now on SADS-CoV... ever since you showed it was able to infect human airway epithelial cells,” he wrote.

Mr. Baric responded by saying Mr. Daszak was “being told a bunch of [expletive].”

“BSL-2 w[ith] negative pressure, give me a break,” he wrote, adding later, “You believe this was appropriate containment, if you want but don’t expect me to believe it. Moreover, don’t insult my intelligence by trying to feed me this load of [expletive].”

Tyler Durden Fri, 05/03/2024 - 23:40

The State Of World Press Freedom

The 2024 World Press Freedom Index, compiled by Reporters Without Borders (RSF), was released today. This year, the agency highlights a “worrying decline in support and respect for media autonomy and an increase in pressure from the state or other political actors.” This is based on the fact that, of the five indicators used to compile the ranking, it is the political indicator that has fallen most, with a global average decline of 7.6 points.

Out of the 180 countries and territories analyzed, some 138 places had a majority of their respondents say that political actors in their countries were involved in disinformation or propaganda campaigns. This involvement was described as “systematic” in 31 countries.

The report writers also highlight the lack of political will on an international level to enforce protection of journalists, with particular reference to the war in Gaza, which has been marked by a record number of violations against journalists and the media since October 2023. According to the report, more than 100 Palestinian reporters have now been killed by the Israel Defence Forces, including at least 22 in the course of carrying out their journalistic activities.

Taking a look at wider trends, this chart, via Statista's Anna Fleck, shows that 36 countries were listed in the worst category in the index - where there exists a “very serious” situation of the press.

You will find more infographics at Statista

49 countries fall under the “difficult” category and 50 in the “problematic" group, while 45 have either a “satisfactory” or “good” situation. Norway is once more at the top of the list, ranking in first place for the eighth year running, followed by Denmark and Sweden.

The final trio, considered the most repressive countries for the press, are Afghanistan (position 178), Syria (179) and Eritrea (180). The report states: “The last two countries have become lawless zones for the media, with a record number of journalists detained, missing or held hostage.”

The United States ranked 55th in 2024, having dropped ten positions. RSF notes that the country is experiencing growing distrust in the media, partly driven by antagonism from political officials, while there have also been cases of local law enforcement having raided newsrooms.

Reporters Without Borders have compiled the index annually since 2002. The agency devised a new methodology in 2021 with the help of a panel of experts from the media and academic world. This year, 180 countries and territories were analyzed based on five indicators covering political context, legal framework, economic context, sociocultural context and safety.

Tyler Durden Fri, 05/03/2024 - 23:20

Coffee Compound May Help Counteract Age-Related Muscle Loss

Authored by George Citroner via The Epoch Times,

One of the world’s favorite brews may hold the key to keeping muscles strong and healthy as we age.

According to recent research, a natural compound found in coffee could be the secret weapon against age-related muscle loss.

The Muscle-Preserving Molecule

Mitochondria, the powerhouses of our cells, play a crucial role in muscle health. An issue linked to sarcopenia, the age-related loss of muscle mass and strength, is that these cellular components generate less energy as we get older. Compounding this problem, levels of the crucial substance NAD+ (which stands for nicotinamide adenine dinucleotide), a coenzyme that helps cells regenerate and protects them from damage, also decline with age.

Researchers already know that NAD+ levels can be boosted using various dietary precursors, including the essential amino acid L-tryptophan and different forms of vitamin B3, such as nicotinic acid, nicotinamide, nicotinamide riboside, and nicotinamide mononucleotide.

In a recent study published in Nature Metabolism, scientists investigated whether an alkaline compound called trigonelline could help reverse these age-related changes in muscle health.

The researchers analyzed trigonelline levels in the blood of mice and worms and found that high levels of the substance were positively associated with muscle strength and function.

Conversely, low trigonelline levels were linked to sarcopenia, the typical loss of muscle size and strength that occurs with aging.

Trigonelline Promoted Healthy Longevity

Trigonelline is structurally related to vitamin B3 and is produced naturally in the body, in addition to being found in certain foods.

“We discovered that older people with low endogenous levels of trigonelline in their blood lose more muscle mass and strength during aging,” Katharina Fischer, research and development and scientific communications manager at Nestle Research in Switzerland, where the study was conducted, told The Epoch Times. “We also discovered that trigonelline is a precursor to NAD.”

Providing trigonelline promoted longevity in test animals by activating cellular energy production in mitochondria and increasing muscle strength and function during aging, according to Ms. Fischer.

These findings open new opportunities to test the clinical efficacy of increasing trigonelline consumption through food products or supplements to improve muscle health, she noted.

Foods That Contain Trigonelline

Trigonelline is an alkaloid compound found in various plant sources. While it may not be as well-known as some other beneficial plant compounds, trigonelline is present in a variety of dietary sources. About 5 percent of the niacin we consume is converted into trigonelline.

Coffee Beans

Trigonelline is more abundant in coffee beans than in any other food source, and it contributes to coffee’s characteristic bitterness. However, during the roasting process, trigonelline partly breaks down to form nicotinic acid (niacin or vitamin B3), another nutrient with significant health benefits.

Fenugreek Seeds

Fenugreek, a plant commonly used in Indian and Middle Eastern cuisines, contains about 35 percent alkaloids, with trigonelline being the primary one in the seeds.

Other Foods

Trigonelline can be found in a variety of other foods, including barley, cantaloupe, corn, onions, peas, soybeans, and tomatoes.

You can also obtain trigonelline by eating fish, mussels, and crustaceans.

Never Too Late to Address Age-Related Muscle Loss: Expert

It’s natural to lose muscle mass as we age.

“Sarcopenia can occur due to a myriad of factors, such as immobility, lack of proper nutrition, obesity, and lack of physical activity,” Macie Smith, a licensed gerontology social worker, told The Epoch Times. “Since the senior population tends to be more sedentary, you’ll see it show up more prevalently in persons over the age of 65, but the process can begin as early as 30–40 years of age.”

However, while we cannot prevent aging, we can reduce muscle mass loss caused by it.

This can be done through proper exercise; a balanced, nutritional diet; and managing any underlying health conditions.

“It’s never too late to build and strengthen muscle to counter the effects of sarcopenia,” Ms. Smith said. “You can always develop a new exercise regimen that will allow you to become active and to maintain the active lifestyle.”

Tyler Durden Fri, 05/03/2024 - 23:00

The US Is The Only G-7 Nation To See Trust In Government Plummet

How much do you trust the government, and its various institutions?

It’s likely that your level of confidence probably depends on a wide range of factors, such as perceived competency, historical context, economic performance, accountability, social cohesion, and transparency.

And for these same reasons, trust levels in government institutions also change all the time, even in the world’s most developed countries: the G7.

Confidence in Government by G7 Countries (2006-2023)

This chart, via Visual Capitaist's Nick Routley, looks at the changes in trust in government institutions between the years 2006 and 2023, based on data from a multi-country Gallup poll.

Specifically, this dataset aggregates confidence in multiple national institutions, including the military, the judicial system, the national government, and the integrity of the electoral system.

What’s interesting here is that in the G7, a group of the world’s most developed economies, there is only one country bucking the general trend: the United States.

Across most G7 countries, confidence in institutions has either improved or stayed the same between 2006 and 2023. The largest percentage point (p.p.) increases occur in Italy and Japan, which saw +13 p.p. and +11 p.p. increases in trust over the time period.

In the U.S., however, confidence in government institutions has fallen by 13 p.p. over the years. What happened?

Key Figures on U.S. Trust in Institutions

In 2006, the U.S. was tied with the UK as having the highest confidence in government institutions, at 63%.

But here’s where the scores stand in 2023, across various institutions:

Based on this data, it’s clear that the U.S. lags behind in three key indicators: confidence in the national government, confidence in the justice system, and confidence in fair elections. It ranked in last place for each indicator in the G7.

One other data point that stands out: despite leading the world in military spending, the U.S. is only the third most confident in its military in the G7. It lags behind France (86%) and the United Kingdom (83%).

Tyler Durden Fri, 05/03/2024 - 22:40

People With More COVID-19 Vaccine Doses More Likely To Contract COVID-19: Study

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

People who received more than one dose of a COVID-19 vaccine were more likely to contract COVID-19, according to a new study.

A health care worker fills a syringe with Pfizer's COVID-19 vaccine in an undated file image. (Robyn Beck/AFP via Getty Images)

An analysis of data from Cleveland Clinic employees found that people who received two or more doses were at higher risk of COVID-19, Dr. Nabin Shrestha and his co-authors reported.

The risk of contracting COVID-19 was 1.5 times higher for those who received two doses, 1.95 times higher for those who received three doses, and 2.5 times higher for those who received three or more doses, the researchers found. The higher risk was compared to people who received zero or one dose of a vaccine.

Even after adjusting for variables, the elevated risk remained.

“The exact reason for this finding is not clear. It is possible that this may be related to the fact that vaccine-induced immunity is weaker and less durable than natural immunity. So, although somewhat protective in the short term, vaccination may increase risk of future infection,” the researchers said in the paper, which was released as a preprint.

Dr. Robert Malone, a vaccine researcher who was not involved in the paper, told The Epoch Times that the paper served as “another acknowledgment that the products are not effective or are at very low effectiveness and are contributing to negative effectiveness [down the line].”

He noted that the researchers did not study vaccine safety among the employee population. The COVID-19 vaccines can cause a number of side effects, including fatal heart inflammation, according to the literature and death records.

Earlier studies and data have also suggested that people with more vaccine doses are more susceptible to COVID-19 infection, including previous papers from the Cleveland Clinic scientists and a study from Iceland.

The U.S. Centers for Disease Control and Prevention (CDC), which has repeatedly declined requests to comment on outside research, recommends virtually all people aged 6 months and older receive one of the currently available COVID-19 vaccines, regardless of how many shots they’ve received, although a meeting later in May is set to discuss whether to update the vaccine formulations to improve protection.

CDC scientists said in a paper published in February in the agency’s weekly report that the latest version of the vaccines, a monovalent targeting the XBB.1.5 subvariant, provided 49 percent effectiveness between 60 and 119 days later when the JN.1 virus strain was dominant. Supplementary data, however, showed that people aged 50 and older who received the previous bivalent version were more susceptible to symptomatic infection.

Authors disclosed no conflicts of interest and acknowledged at least five limitations, including how they used a proxy for infection with JN.1.

Another study, released ahead of peer review in April, estimated the effectiveness of Pfizer’s updated vaccine as 32 percent against hospitalization from late 2023 through early 2024. The research was conducted by scientists from multiple institutions, including the U.S. Department of Veterans Affairs and Pfizer, many authors reported conflicts of interest, and some of the funding came from Pfizer.

People’s immune systems being trained to react to older virus strains at the expense of protection against newer variants is one theory for why the vaccinated might be more prone to infection.

“Multiple vaccine doses may have the effect of antibody-dependent enhancement or ‘original antigenic sin,’ which increase the infection response disproportionally to antibodies generated from the first vaccine dose, rather than from the current vaccine or the current infection, making the antibody response less effective,” Dr. Harvey Risch, professor emeritus of epidemiology at the Yale School of Public Health, told The Epoch Times in an email after reviewing the paper.

Dr. Shrestha, who did not respond to a request for comment, and the Cleveland Clinic researchers aimed to analyze the effectiveness of the XBB.1.5 shots against JN.1, which displaced XBB.1.5 before the end of 2023.

To do so, they analyzed the incidence of COVID-19 among Cleveland Clinic employees from Dec. 31, 2023, to April 22, 2024.

Among approximately 47,500 employees included in the study, 838 tested positive for COVID-19 during that period.

Unadjusted data showed no difference between people who received one of the updated shots and people who didn’t, but after adjusting for age and other factors, the researchers estimated the shots provided 23 percent effectiveness against infection.

Federal and global guidelines consider vaccines ineffective if they provide under 50 percent shielding.

The number of severe illnesses among the study population was too small to estimate effectiveness against severe illness, the researchers said.

Listed limitations included the inability to separate symptomatic and asymptomatic infections. No conflicts of interest were reported and authors said they received no funding.

Tyler Durden Fri, 05/03/2024 - 22:20

"I've Been Totally Ghosted": After Install, Solar Panels Become Maintenance Nightmare

The green new deal and switch to "alternative' energy looks like it's going exactly as planned: costing the taxpayer trillions of dollars and generally pissing everybody off.

That was the case with a number of solar panel owners who are now finding it difficult to get their panels serviced, according to WBAL TV.

Solar panel installation is touted as offering benefits like reduced energy costs, environmental friendliness, and significant rebates. However, many homeowners have discovered a concerning issue within the industry: addressing technical problems can be exceedingly challenging -- if not outright impossible. 

Those interviewed shared experiences with various solar providers, each facing prolonged unresolved issues. 

Tom Lucas, who installed solar panels in 2018, initially saw higher electricity production. Yet, by 2022, 20% of his system failed, leading to considerable losses. Despite having a 25-year warranty from Invaleon Solar Technologies, the issue remains unaddressed.

Lucas commented: "I've been totally ghosted. All I want is a working system. To me, even though I'm generating some electricity, it's not right."

Lucas added: "They're a sales-oriented company. All solar companies are. They want to sell the next job. They want to get that installed and move on to the next sale. They're not service-oriented."

Steve Pilotte, an early solar adopter, has experienced ongoing problems since 2009. His current provider, Sunrun, has been unresponsive in fixing an inverter issue that started in 2020, despite multiple technician visits.

"Once again, in 2022, I followed up with them. And then 2023. And January 2024. I'm totally lost. I've never experienced a situation like this in my life."

Mike Rice, who leases from Spruce Power, saw his electricity costs drop significantly until 2023 when his meter malfunctioned. Despite the fault, Spruce has not compensated him for the energy lost during peak production times.

"No one called me to tell me my system is out. Not even credits. I'd just take credits so I can offset my future bills, but they won't do that," Rice said.

"I think they're more interested in putting solar up than repairing it," he concluded. 

Tyler Durden Fri, 05/03/2024 - 22:00

26 States File Lawsuits In Federal Courts Over ATF Redefinition Of Gun Dealers

Authored by Michael Clements via The Epoch Times (emphasis ours),

Attorneys general representing half of the country on May 1 sued President Joe Biden’s administration over a new rule requiring criminal background checks for all gun sales, including private sales.

Democratic lawmakers put their arms around one another as Speaker of the House Nancy Pelosi (D-Calif.) announces the final vote count for the Bipartisan Safer Communities Act in the House of Representatives in Washington on June 24, 2022. (Chip Somodevilla/Getty Images)

Lawsuits in Florida, Texas, and Arkansas are asking the courts to block a rule from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) that redefines “engaged in the business” of dealing in firearms.

Under the new rule, almost every transfer of firearm ownership would require at least one party to have a Federal Firearms License and perform a criminal background check, including private sales.

U.S. Attorney General Merrick Garland signed the new rule on April 10, and it goes into effect on May 10.

According to the 466-page rule, the only requirement for determining whether a person is engaged in the business of selling guns is whether the person is trading to “predominately earn a profit.” Previously, the defining characteristic was whether the dealer worked to earn a “livelihood.”

The new definition is in the Bipartisan Safer Communities Act (BSCA), signed into law on June 25, 2022.

In the Florida case, Florida Attorney General Ashley Moody filed suit in the U.S. District Court for the Middle District of Florida.

According to the lawsuit Ms. Moody filed on May 1, the act was passed to balance gun owners’ rights against public safety concerns.

In the filing, Ms. Moody wrote that the BSCA’s sponsors assured voters that the law clarified that dealers were only those who earned their livelihood from selling guns. Ms. Moody claims that President Biden is stretching the language of the act to fit his political agenda.

“Sensing an opportunity, the Biden Administration now seeks to exploit the minor changes to federal law enacted in the BSCA to implement President Biden’s preferred policies by executive fiat,” Ms. Moody wrote.

The other two lawsuits—filed in the Northern District of Texas and Eastern District of Arkansas—also decry the change as an unconstitutional infringement on Americans’ Second Amendment rights and an illegal attempt to circumvent the U.S. Congress and enact “universal background checks.”

President Biden has called for expanding the criminal background check requirement since his election in 2020.

Each suit asks its respective court to block the rule’s enforcement and find that it violates the U.S. Constitution and the Administrative Procedures Act.

ATF spokesperson Kristina Mastropasqua said the agency had no comment on the lawsuits.

The White House did not respond to requests from The Epoch Times for comment on this story.

A researcher simulates a check done for the National Instant Criminal Background Check System (NICS) at the FBI’s criminal justice center in Bridgeport, W.Va., on Nov. 18, 2014. (Matt Stroud/AP Photo)

The attorneys general say they are defending their constituents’ rights.

“This lawsuit is just the latest instance of me and my colleagues in other states having to remind the President that he must follow the law,” Arkansas Attorney General Tim Griffin wrote in a press release on May 1.

Mr. Griffin joined Kansas Attorney General Kris Kobach in the largest suit, representing 21 states. They say the new rule completely reverses decades of legal precedence that protected the right of private parties to buy, sell, or trade firearms without government intrusion.

“Defendants’ claim of authority to implement this scheme dramatically upends both our constitutional traditions and the federal firearms licensing regime Congress designed,” the lawsuit states.

In addition to Kansas and Arkansas, the plaintiffs in the Arkansas lawsuit include Iowa, Montana, Alabama, Alaska, Georgia, Indiana, Idaho, Kentucky, Missouri, Nebraska, New Hampshire, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Virginia, West Virginia, and Wyoming.

Private citizens Phillip Journey, Allen Black, Donald Maxey, and the Chisholm Trail Antique Gun Association joined the lawsuit as plaintiffs.

They are suing Mr. Garland, ATF Director Steven Dettelbach, the U.S. Department of Justice, and the ATF.

Florida Attorney General Ashley Moody speaks at a press conference in Brandon, Fla. Nov. 18, 2021. (Jann Falkenstern, The Epoch Times)

“This rule is blatantly unconstitutional. We are suing to defend the Second Amendment rights of all Americans,” Mr. Kobach wrote in a press release on his state website.

In Texas, four states, four Second Amendment Advocacy groups, and one individual are challenging the rule in the U.S. District Court for the Northern District of Texas in Amarillo.

That lawsuit was filed on May 1 by the states of Texas, Mississippi, Louisiana, and Utah, along with Gun Owners of America Inc., the Gun Owners’ Foundation, the Tennessee Firearms Association, the Virginia Citizens Defense League, and Jefferey W. Tormey.

Texas Attorney General Ken Paxton issued a press release calling the new rule an affront to the Constitution.

“Yet again, Joe Biden is weaponizing the federal bureaucracy to rip up the Constitution and destroy our citizens’ Second Amendment rights,” Mr. Paxton’s statement reads.

Gun Owners of America Eric Pratt said allowing the rule to stand would send a dangerous message to other government agencies. In the press release, Mr. Pratt wrote that the rule must be struck down entirely.

“Anything less would further encourage this tyrannical administration to continue weaponizing vague statutes into policies that are meant to further harass and intimidate gun owners and dealers at every turn.”

Tyler Durden Fri, 05/03/2024 - 21:40

"An Unlawful Sleight Of Hand": Biden Parole Program Has Flown Illegals To More Than 45 US Cities

In a recent development, a House Committee subpoena has forced the Department of Homeland Security (DHS) to reveal details of its parole program designed to allow entry for thousands of individuals from several nations.

The program, established in October 2022, was initially tailored to facilitate entry for Venezuelans who had American sponsors and passed a vetting process. However, the scope of the program rapidly expanded, encompassing individuals from Cuba, Haiti, and Nicaragua as well - eventually flying illegal aliens to more than 45 cities across the United States.

According to the DHS documents, between January and August 2023, the parole program allowed over 200,000 individuals to enter the United States. While the program did not cover the cost of flights for these individuals, it permitted them to enter the country and make travel arrangements independently. Among the program's participants, Florida emerged as a leading destination, with around 80% of the 200,000 choosing to settle in cities such as Miami, Tampa, and Fort Lauderdale. Other prominent destinations included New York, California, Texas, Nevada, and Georgia.

DHS Secretary Alejandro Mayorkas defended the program, stating that it provided "a safe and orderly way to reach the United States" and asserting, though without presenting specific evidence, that the program "resulted in a reduction in numbers of those nationalities." Mayorkas also highlighted its global relevance, noting its role in addressing "the unprecedented level of migration throughout our hemisphere" and suggesting that other countries might see it as a model to manage irregular migration.

That said, the documents revealed that at least 1.6 million applications were still pending as of October 2023. The program currently admits approximately 30,000 individuals per month, granting them work permits and authorizing them to live in the country for two years.

Congressman Mark Green (R-Tenn.), Chairman of the House Homeland Security Committee, expressed strong criticism of the program, stating, "These documents expose the egregious lengths Secretary Mayorkas will go to ensure inadmissible aliens reach every corner of the country, from Orlando and Atlanta to Las Vegas and San Francisco." Green labeled the parole program "an unlawful sleight of hand" aimed at concealing the worsening border crisis from the American public.

In response to perceived poor handling of the border crisis, Mayorkas faced impeachment by the House of Representatives in February. This marked the second impeachment of a Cabinet secretary in U.S. history, and the first in nearly 150 years. However, the Senate's Democratic majority ultimately voted to end the trial without proceeding to a vote on conviction or acquittal, following repeated delays.

The disclosure of the DHS parole program documents has reignited debate over U.S. immigration policy and the handling of migration at the southern border, reflecting persistent tensions on these issues at both the national and international levels.

Tyler Durden Fri, 05/03/2024 - 21:20

Trump Urges Dismissal Of Mar-a-Lago Case, Claims 'Selective And Vindictive Prosecution'

Authored by Caden Pearson via The Epoch Times (emphasis ours),

Former President Donald Trump docketed a brief to support his motion to dismiss the classified documents indictment against him in Florida, citing “selective and vindictive prosecution” on Thursday.

Former President Donald Trump speaks to the media in Palm Beach, Fla., on March 19, 2024. (Joe Raedle/Getty Images)

The 43-page filing contends that special counsel Jack Smith’s case against the former president “has been motivated by improper political animus.”

It cites “targeted leaks and public statements” by President Joe Biden, “urging others to prosecute President Trump.” This refers to a New York Times report from April 2, 2022, reporting that President Biden told his “inner circle that he believed former President Donald J. Trump was a threat to democracy and should be prosecuted.”

President Trump’s lawyers contend that the article amounted to presidential pressure on Attorney General Merrick Garland to “act ... more like a prosecutor who is willing to take decisive action.”

The motion details a series of events to support the former president’s arguments of a concerted effort by the Biden administration and federal agencies to target him.

It points to statements from officials at the National Archives and Records Administration (NARA), which is responsible for the preservation of presidential records, that the Biden administration’s “current business” was investigating the 45th president. Among other events, it cites a text message from a NARA official dated Feb. 9, 2022, stating that the classified documents have “consumed all of our discussions” with the Biden White House.

“There is evidence of vindictive political animosity focused on election interference in these proceedings, which is part of the reason why the Special Counsel’s Office is wrong in the claim that President Trump ‘does not contend that the Special Counsel himself was motivated by improper considerations,’” President Trump’s lawyers argue.

Smith Refutes Trump’s Claims

In a March 7 filing, Mr. Smith argues against President Trump’s claims that the prosecution team, influenced by political bias, is selectively targeting him for prosecution.

Prosecutors from the special counsel’s office argue that the former president hadn’t identified anyone in his motion who was engaging in similar conduct without being prosecuted and failed to provide evidence that his indictment was solely retaliatory.

“Trump contends ... that he has been subject to selective and vindictive prosecution,” the prosecution wrote. “But he has not identified anyone who has engaged in a remotely similar battery of criminal conduct and not been prosecuted as a result.

“He has likewise failed to provide any evidence that his indictment was brought solely to retaliate against him for exercising his legal rights, rather than because he flagrantly and repeatedly broke the law,” the prosecution continued.

Meanwhile, President Trump’s legal team has given Judge Aileen Cannon, a Trump appointee, a list of other former government officials who they say engaged in similar alleged misconduct, including the mishandling of classified information.

Among them are President Biden, former Vice President Mike Pence, former Secretary of State Hilary Clinton, former President Bill Clinton, and the FBI’s former director James Comey.

However, with respect to the alleged misconduct of these officials, President Trump’s team asserted in a February motion that “no one in the government lifted a finger” to prosecute them.

“Collectively, this history of non-prosecution and leniency for similarly situated individuals and others strongly supports President Trump’s motion based on intolerable and unconstitutional selective and vindictive prosecution,” the motion reads.

President Trump’s lawyers argued again on Thursday that, on its face, these specific comparators are enough to establish a case of selective and vindictive prosecution.

The former president’s legal team asked the judge for further investigation through discovery and a hearing to examine the allegations of selective prosecution.

Trump ‘The Exception’

Special counsel Robert Hurr declined to press charges against President Biden in February, despite finding evidence that he retained and disclosed highly classified materials when he was a private citizen.

According to Mr. Hur’s report from February, there is no precedent for prosecuting former presidents or vice presidents for mishandling classified documents from their own administrations, with one exception.

“The exception is President Trump,” the February motion reads.

“The basis is his politics and status as President Biden’s chief political rival,” the motion continues. “Thus, this case reflects the type of selective and vindictive prosecution that cannot be tolerated. Accordingly, further discovery and a hearing are necessary, and the Superseding Indictment must be dismissed.”

President Trump’s legal team cited Mr. Hur’s report in a bid to exonerate him from charges. On the other hand, the prosecution claims that the former president was the only one who participated in a “multifaceted scheme of deception and obstruction” to prevent the safe return of those documents.

The former president argues that the special counsel’s office is trying to influence the general election by pursuing “two lawless prosecutions,” which have been initiated at the urging of the Biden administration.

“[T]he Special Counsel’s Office seeks to ‘become a de facto campaign voice for the Democrats in the general election,’ and Jack Smith is ‘probably less concerned now with whether a Trump conviction will survive appeal than with whether Trump can be convicted ahead of the November 2024 election,’” the February motions reads.

“No sitting President has ever successfully pressed for the prosecution of a former President, and his chief political rival, the way that President Biden did—proudly and publicly—in 2022,” President Trump’s lawyers contend. “NARA has never targeted a former President in the way that the agency targeted President Trump. No law enforcement body has ever raided a former President’s home. DOJ has never even used civil remedies against a former President.”

President Trump’s defense had previously sought to have the case thrown out based on the Presidential Records Act (PRA), but Judge Cannon rejected this argument on April 4.

Mr. Smith had indicted President Trump and aide Walt Nauta in June 2023, alleging mishandling of over 300 classified documents. The charges against the former president include 31 counts of violating the Espionage Act, along with various other counts related to obstruction of justice, withholding documents, and making false statements.

The Epoch Times contacted Mr. Smith’s office for comment.

Tyler Durden Fri, 05/03/2024 - 21:00

Stormy Daniels Lawyer Says Payment Wasn't 'Hush Money' - Avenatti Calls "A Shakedown"

A lawyer who was involved in negotiations between former President Donald Trump and two women denied that payments made to them constituted "hush-money," and instead used the word "consideration."

Keith Davidson, who negotiated deals with both Stephanie Clifford (aka Stormy Daniels) and model Karen McDougal, disputed Manhattan prosecutor Joshua Steinglass's language during a May 2 court appearance.

"It wasn’t a ‘payout’ and it wasn’t ‘hush money.’ It was consideration in a civil settlement," said Davidson.

"Would you use the phrase hush money to describe the money that was paid to your client by Donald Trump?" Steinglass shot back.

"I would never use that word," Davidson replied.

When asked what he would call it, he said it was a "Consideration," comparing it to a contract in which one pays to have one's lawn mowed.

Trump attorney Emil Bove pressed Mr. Davidson on his understanding of extortion law, grilling him about previous instances in which he solicited money to suppress embarrassing stories, including one involving wrestler Hulk Hogan.

Mr. Bove suggested to the witness that by the time he negotiated the payments for Ms. McDougal and Ms. Clifford, he would have been “pretty well versed in coming right up to the line without committing extortion.”

“I had familiarized myself with the law,” Mr. Davison replied. -Epoch Times

Davidson also told Steinglass that he worked out the "consideration" deal with former Trump attorney Michael Cohen just days before the 2016 election, but that Trump never signed it.

Avenatti pipes up from prison

Trying to reclaim his 15 minutes of fame from prison, former Trump foe and Stormy Daniels' ex-attorney Michael Avenatti posted on X that Davidson is a liar - and had in fact tried to extort Trump.

"Keith Davidson is lying," claimed Avenatti. "After I confronted her w/ her own text msgs, Daniels admitted to me in early 2019 that she & Davidson had extorted Trump in Oct. 2016 – it was a shakedown."

Keith Davidson is lying. After I confronted her w/ her own text msgs, Daniels admitted to me in early 2019 that she & Davidson had extorted Trump in Oct. 2016 - it was a shakedown. This was one of the many reasons I fired her as a client in Feb. 2019

— Michael Avenatti (@MichaelAvenatti) May 2, 2024

Last month, Trump publicly thanked Avenatti "for revealing the truth about two sleaze bags who have, with their lies and misrepresentations, cost our Country dearly!," referring to the gag orders placed on Trump in his Manhattan trial.
 

Tyler Durden Fri, 05/03/2024 - 20:40

Money Is A Monopoly Government Will Never Surrender

Authored by Jeffrey Tucker via The Epoch Times,

A major intellectual revelation from my youth came from reading Murray Rothbard’s “What Has Government Done to Our Money?” (1963). He includes a passing opinion that private markets are perfectly capable of producing money with no help from government. Under a sweeping monetary reform, private mints could compete in offering this good with full associated services. There is no need for any government intervention here.

It was the kind of claim that, at some point in one’s life, causes the jaw to hit the floor. Investigating this assertion more, I came to see that there was a large literature on the topic. Historically, money originated in the market economy itself, a naturally evolving institution that met the needs of trade. Whatever good was generally valued by everyone, and was as capable of being divided into consistent units with a stable value, could be deployed as money, with no need for government to do anything but watch.

But of course history has not panned out that way. Every government has a strong incentive to monopolize the good called money because this is how they can tax their citizens, reward the most compliant industries, cultivate close relationships with bankers, and inflate the currency at will through a variety of methods depending on the technology of the time.

We can of course imagine primitive tribes or pre-colonial native populations using rocks and shells, but is there a modern case where private coinage became normalized? In a major but often overlooked work of historical scholarship, economist George Selgin has written the most extensive treatment of the private coinage industry in the UK at the dawn of the Industrial Revolution.

His book “Good Money” is beautifully produced with color photographs of some of the most alluring coins you will ever see. The historical narrative is endlessly fascinating. At the dawn of the factory system, the Royal Mint didn’t care in the slightest bit about small denomination coins of silver and copper to enable small businessmen to pay their workers. The Royal Mint only produced large denominations in gold for big business doing big trade deals.

Frustrated with the inability to pay workers, the entire period from 1700 through 1813 saw the evolution of a sophisticated industry focused on coinage. Old button factories were converted to producing coins of various weights and sizes based on copper and silver. They were used to pay workers and accepted widely by merchants.

The system worked just fine and it could have continued forever. The new industry alleviated the coin shortage and yielded healthy competition among many producers of new money. It was all made to be inflation resistant and verifiable according to standard weights and measures. This was a full industry of private coinage, in operation in one of the most advanced and industrious societies in the world at the time.

Sadly, the Royal Mint eventually became upset about this. Driven by the eternal need of government to control the money in its realm, Parliament passed a series of acts in 1812–1813 to cartelize the function of the mint and make the Royal Mint the only legal producer. The entire industry was destroyed very quickly. So from this one case, we can see that the monopolization of money is not an outgrowth of market forces but imposed by government. It has always been this way.

The digital age birthed new attempts to privatize money, stemming from a very real problem of financial verification (revealed in the 2008 financial crisis) and using money without the need for intermediaries. The result was Bitcoin, which was born in January 2010. It grew in sophistication and value over the course of the year. In the following seven years, adoption exploded and incentivized the creation of new private methods of settling transactions and accepting credit cards. It was a solid competitor to nationalized money.

As in 1813, governments did not much like it. The code of Bitcoin itself was deliberately throttled to prevent the new private money from scaling, prompting a fork in the transaction chain and the birth of general chaos in the industry, even as Bitcoin itself kept growing in value. Government responded by taking control of the on-ramps, the off-ramps, all exchanges, and then put heavy taxation and reporting requirements on all dealings. Right now, the crackdown is full-on, with websites and wallets being shut down and top investors investigated and even subject to criminal trials.

As in 19th century Britain, we see here another tragic case of government intervention strangling a wonderful new industry in the interest of maintaining a monopoly on power, the first condition of which is always to control the money of the realm.

I think back to my own shock at the discovery that free enterprise was fully capable of managing money as a good. It had never occurred to me because it had always been otherwise. And yet, if you think about it, there are all sorts of conditions in which market forces invent money as a method of moving beyond primitive barter arrangements.

Every prison has its own form of money. It used to be cigarettes but now is more commonly canned fish or some other valued good. The only reason this is not common in society at large is that governments do not want it this way.

A feature of government management in modern times has been periodic reforms that always end in making the system worse. We had a government-backed gold standard in the late 19th century that was compromised by a fixed price relationship between gold and silver that was unsustainable. Then we got the Federal Reserve in 1913, with the promise that it would control inflation even as it took off soon after the Fed accommodated the need for war funding.

In 1933, we got another reform that devalued the currency from the center, changing the definition of a dollar from 1/20 an ounce of gold to 1/35 an ounce. That massive devaluation was accompanied by a nationwide gold confiscation that included criminal penalties and jail time for noncompliance. At the close of World War II, a new system called Bretton Woods forbid domestic conversion and only allowed gold for international exchange. This was completely unsustainable because every nation has different fiscal and monetary policies so of course the value of money could not be frozen in place. This led to the end of the gold standard completely in 1971–73, resulting in a disastrous inflation bout.

No question that the next great monetary reform will be to globalize a central bank digital currency with track-and-trace capability and the power to turn money on and off on political whim. In order to make this possible, government now needs to eliminate all the competition, just as they did in 1813.

None of this mucking around with the money is in the public interest. It is in the government’s interest and also its industrial partners in banking and finance. A full denationalization of money is the fix for the whole problem but getting there from here will require dislodging the government of its penchant for controlling the economic forces of the whole realm. It’s an age-old problem and perhaps the greatest challenge of all ages.

Tyler Durden Fri, 05/03/2024 - 20:20