Source: YouTube
Rand Paul Drops a NUKE From Senate Floor After Recovering From Coronavirus | YouTube
Source: YouTube
Source: YouTube
Editor’s Note: At first I was not interested in watching yet another Michael Moore film, but after getting half-way through the film I realized the importance of the message. Renewable and green energy such as solar and wind, as beautiful a notion that is, still requires a massive industrial infrastructure to manufacture and deploy. That infrastructure is still dependent upon fossil fuels such as coal, natural gas and nuclear. So the lofty idea of a Green New Deal somehow independent of the existing fossil fuels/industrial infrastructure may very well be a pipe dream. For a counterpoint opinion do read “A Bomb in the Center of the Climate Change Movement”.
By Jeff Gibbs
Michael Moore presents Planet of the Humans, a documentary that dares to say what no one else will this Earth Day — that we are losing the battle to stop climate change on planet earth because we are following leaders who have taken us down the wrong road — selling out the green movement to wealthy interests and corporate America. This film is the wake-up call to the reality we are afraid to face: that in the midst of a human-caused extinction event, the environmental movement’s answer is to push for techno-fixes and band-aids. It’s too little, too late.
Source: YouTube
By Collin Rugg
While joining conservative host Hugh Hewitt on his radio show on Tuesday, Attorney General Bill Barr spoke out on the coronavirus lockdowns here in the United States, stating that the stay at home orders are beginning to do more damage than the virus itself.
Barr explained that the lockdown decision was initially a good move to slow the virus however he feels that it is starting to go for too long.
“These are unprecedented burdens on civil liberties right now. You know, the idea that you have to stay in your house is disturbingly close to house arrest,” Barr said. “I’m not saying it wasn’t justified. I’m not saying in some places it might still be justified. But it’s very onerous, as is shutting down your livelihood.”
The Attorney General continued by comparing the coronavirus shutdowns to chemotherapy treatments.
“Your first thing is to drive [the cancer] back to a more manageable state, and that’s what we’re doing and have done,” the attorney general stated. “The question is, you can’t just keep on feeding the patient chemotherapy and say ‘well, we’re killing the cancer,’ because we’re getting to the point where we’re killing the patient.”
Check out what the Daily Wire reported:
Nearly 22 million people have applied for unemployment benefits in the past month, a rough estimate of the number of people that have either lost their jobs or been furloughed since states began implementing strict stay-at-home orders to slow the spread of the coronavirus. The Department of Labor reported the latest claims numbers on Thursday, and the number of jobs lost has likely continued to climb steeply since.
Protests have broken out across several states such as Michigan, North Carolina, and Ohio of residents demanding that state governors loosen stringent regulations that are forcing many businesses to stay closed.
The pain of many businesses has been compounded since the Paycheck Protection Program, a federal relief fund meant to float businesses through the pandemic, went dry last week. Democrats in Washington have delayed a fresh cash infusion to the program to secure more funding for state and local governments. A bill is expected to pass the Senate on Tuesday.
Nearly 805,000 people have tested positive for the coronavirus in the United States, and roughly 44,000 deaths have been attributed to the virus by Tuesday afternoon. New York, the state hardest hit by the pandemic, accounts for nearly half of total U.S. deaths with about 20,000.
A handful of states are preparing to relax emergency restriction in the coming days and will allow many people to begin working, albeit with some social distancing rules for the foreseeable future. Gov. Brian Kemp of Georgia is expected to be one of the first to begin opening his state, announcing on Monday that he would lift his stay-at-home order by the end of the week.
Source: Trending Politics
By Brian Shilhavy
With the nation currently gripped by the Coronavirus crisis, and with most of the public lauding the fact that the FDA is fast-tracking a new vaccine to supposedly fight the Coronavirus, with testing beginning already on humans with the experimental vaccine while bypassing animal testing, unknown to most of the public, a meeting was held on March 6, 2020 with the Advisory Commission on Childhood Vaccines (ACCV), under the U.S. Department of Health and Human Services.
These are quarterly meetings held every 3 months, as required by law, but seldom, if ever, publicized or reported on by the corporate “mainstream” media.
Health Impact News might be the only place where these quarterly meetings are reported, and you can review past reports here. We have been accused of publishing “Fake News” when we publish these reports, but all of the information is available to the public and posted on the Federal Government’s websites.
The Big Tech companies that control so much of the Internet’s traffic, work hard to suppress this information. If you visit one of Health Impact News‘ Facebook Pages, for example, you are likely to see this notice inserted to the top of our page:
The March 6th meeting by the Advisory Commission on Childhood Vaccines included a report from the Department of Justice (DOJ) on cases settled for vaccine injuries and deaths as mandated by the National Vaccine Injury Compensation Program (NVICP).
The NVICP was started as a result of a law passed in 1986 that gave pharmaceutical companies legal immunity from being sued due to injuries and deaths resulting from vaccines.
If you or a family member is injured or dies from vaccines, you must sue the federal government in this special vaccine court. Many cases are litigated for years before a settlement is reached.

The March, 2020 DOJ report states that 288 petitions were filed during the 3-month time period between 11/16/19 – 2/15/20, with 181 cases being adjudicated and 146 cases compensated.
The March, 2020 DOJ report lists 74 of these settlements for vaccine injuries and deaths, and 60 of those were for damages caused by the flu vaccine. Read more…
By Andrew Joseph
In a stunning turn of events, Surgeon General Jerome Adams explained in an interview on live XM radio, that the Coronavirus Task Force has, effectively, dumped the Bill Gates/CDC/WHO predictive contagion model, and is now working with the real data.
He explained on the Sirius XM’s Breitbart News Daily host Alex Marlow, that given the new data, businesses will begin to re-open as early as May, others in June.
This runs contrary to the out-and-out fear-mongering of Dr. Fauci and Bill Gates who have made a media tour, threatening the public that businesses may not re-open for six months to a year, or until and unless governments purchase their conveniently patented, big-pharma vaccination.
According to Dr. Adams:
“What the American people need to know now is we actually have data, and so we’re tracking that data,”
Before this about-face, which appears to have come as an order from the Trump administration in consultation with the findings of Dr. Adams, the task force was working with’predictive models’, which had been created by the Bill Gates dominated WHO and CDC. Dr. Fausti’s control over the CDC has been criticized in the past for its for-profit motive in handling a range of illnesses from HIV to H1NI.
In those inflated, ‘fear-based’ models, the deaths of millions worldwide, and hundreds of thousands in America, were touted. These were used as the basis for what many experts have termed a ‘grossly disproportionate response‘.
Previously, the task force was working with predictive models, frequently criticized because of their tendency to exaggerate the possible effect of the virus on the United States. Models predicting the deaths of millions and hundreds of thousands in America appear to be overblown, as the real-time data is showing the death count much lower.
Adams said that the models usually took data from different cultures and places around the globe, but they were able to track more accurately what could happen in the United States based on real data gathered in places such as California and New York.
“We’re following this data every single day, and we’re giving that data to communities so that they can make informed and intelligent decisions about when and where to reopen,” he said.
A significant indicator for communities being allowed to reopen, Adams said, was actual testing data, not a predictive model.
“I feel confident that some places will start to reopen in May and June. Other places won’t; it will be piece by piece, bit by bit, but will be data-driven,” he said.
Adams praised South Korea and Singapore, which closed their borders early, just like the United States did with travelers from China. But he said there are lessons learned across the board.
Source: Fort Russ News

By James Murphy
Avowed socialist and United Nations Secretary General António Guterres has announced the creation of a global fund meant to address the coronavirus pandemic. He is asking for all nations to contribute the equivalent of 10 percent of all global GDP to fund a gigantic “human-centered, innovative and coordinated stimulus package,” which would be administered by a global authority, presumably the UN itself.
“A large-scale, coordinated and comprehensive multilateral response amounting to at least 10 per cent of global GDP is needed now more than ever. This crisis is truly global. It is in everyone’s interest to ensure that developing countries have the best chance of managing this crisis, or COVID-19 will risk becoming a long-lasting brake on economic recovery,” the UN report states.
“The new coronavirus disease is attacking societies at their core, claiming lives and people’s livelihoods,” Guterres said.
The plan — entitled Shared Responsibility, Global Solidarity: Responding to the socio-economic impacts of COVID-19 — would entrust the UN (or another globalist entity yet to be named) with approximately $8.7 trillion, which it would supposedly use to fight and eradicate the coronavirus and address other problems that have resulted from the virus.
The UN’s current budget is approximately $3 billion. The $8.7 trillion would be 2,900 times greater than its current budget.
The plan calls for a massive global stimulus in order to “restore confidence in the future.”
“The global nature of the economic shock we are facing, with simultaneous collapses in both supply and demand, calls for the first truly global fiscal stimulus in history,” the plan states.
Needless to say, it also calls for a massive redistribution of the planet’s wealth.
“To be effective, the stimulus package will need to focus on direct and targeted transfer of resources to the most vulnerable households and scaling up health emergency preparedness, social protection, tax abatement, low interest rates, access to credit, insurance and wage support schemes. Support must be provided to countries that lack capacity to implement these measures.”
Among the measures in the plan is to give approximately $100 billion to the World Health Organization, whose director-general, Tedros Adhanom Ghebreyesus, was complicit in the spread of the virus by continually repeating Communist Chinese talking points, including the farcical claim in January that COVID-19 was not transmissible to humans.
Money from the fund will also be used to pay specific “attention to continued delivery of sexual reproductive health services, such as access to contraceptives without prescription during the crisis.” As “reproductive health services” is a globalist euphemism for abortion, the folks at Planned Parenthood should be happy.
To Guterres, the Chinese virus represents a turning point in human history and a chance to truly implement the UN’s 2030 Agenda and also put some teeth in the Paris Climate Accord of 2015.
“And when we get past this crisis, we will face a choice — go back to the world we knew before or deal decisively with those issues that make us all unnecessarily vulnerable to this and future crises. Everything we do during and after this crisis must be with a strong focus on building more equal and inclusive societies that are more resilient in the face of pandemics, climate change, and the many other challenges we face,” the plan states.
“We already know what we need to do. It is laid out in the global road map for the future — the 2030 Agenda, the Sustainable Development Goals and the Paris Agreement on Climate Change.”
The UN is not the only entity to take an interest in a globalist response to the coronavirus. The World Economic Forum has presented a strategic intelligence overview of the COVID-19 that is so layered, so intricate, and so complex that it is hard to believe it could have been created in the scant weeks since the pandemic was declared.
An interactive graph details COVID-19’s impact on financial markets, travel, trade, global workforces, and the various healthcare issues such as vaccinations and halting the spread of the disease.
It’s almost as if these plans preexisted the Chinese virus — as if the plans were waiting for the just the right crisis in order to be unveiled.
Guterres and the UN are asking for the entire solar system, perhaps in hopes of being granted the moon. We have to be vigilant and make certain that they are not granted that moon or even a small asteroid to rule over.
The best way to remove the criminal influence of the UN is to remove the United States from its membership roll.
Source: New American
According to British Prime Minister Boris Johnson’s scientific advisers, the coronavirus outbreak in China may be “15 to 40 times” higher than what Communist China is reporting.
“Mr Johnson has been warned by scientific advisers that China’s officially declared statistics on the number of cases of coronavirus could be ‘downplayed by a factor of 15 to 40 times,’” The Daily Mail reported. “And [the British government] believes China is seeking to build its economic power during the pandemic with ‘predatory offers of help’ [to] countries around the world.’”
China has reported just 82,000 cases and only 3,300 deaths according to Johns Hopkins.
The Washington Post recently reported that China’s coronavirus totals may not be accurate. Check out what they said:
An article in the journal Science estimates that 86 percent of Hubei’s cases were undocumented by the time authorities extended the lockdown to Wuhan and other cities on Jan. 23.
It is also likely that officials reported lower numbers of deaths from covid-19, the disease caused by the coronavirus. Especially once the central government’s propaganda mission to win the “people’s war” against the virus became clear, numbers shifted to achieve that vision. Such shifts would probably be subtle — not hundreds or thousands of hidden deaths, but instead excluding deaths that could be attributed to other types of pneumonia or heart failure, for instance.
The under reporting by Communist China is nothing new. Back in 2003, China failed to report many cases and deaths from the SARS outbreak.
Check out what The New York Times reported:
In a rare public admission of failure, if not deception, the Chinese government disclosed today that cases of a dangerous new respiratory disease were many times higher than previously reported, and stripped two top officials of their power. […]
Admitting to the existence of more than 200 previously undisclosed SARS patients in military hospitals, the official, Deputy Health Minister Gao Qiang, said that as of Friday Beijing had 339 confirmed cases of SARS and an additional 402 suspected cases.
Ten days ago, Health Minister Zhang Wenkang said there were only 22 confirmed SARS cases in Beijing. Last Wednesday, the World Health Organization caused a stir here by estimating that there could be as many as 100 to 200 cases.
While the media in America tries to blame President Trump for the outbreak, British officials are furious with China and are upset that they’re trying to pin the blame on the United States.
“There is a disgusting disinformation campaign going on and it is unacceptable,” a source told The Mail. “They [the Chinese government] know they have got this badly wrong and rather than owning it they are spreading lies.”
Another source with the British government spoke about their relationship going forward with China: “It is going to be back to the diplomatic drawing board after this. Rethink is an understatement.”
“There has to be a reckoning when this is over,” said another source to The Mail.
“The anger goes right to the top,” added another.
Source: Trending Politics
Editor’s Note: The following is really two articles rolled up into one. The first about inserting Andrew Cuomo into the Democratic National Convention as a candidate; the second about the economic blunder of shutting everything down.
By Jeffrey A. Tucker
Andrew Cuomo, governor of New York, is moving up in the betting odds for getting the Democratic presidential nomination, even though he is not running. The reason is that binge-watching newshounds have noticed something about his comportment during this crisis. He seems just slightly struggling to know what’s true. Sometimes he is even honest.
Consider this. On Thursday March 26, Cuomo dared question the orthodoxy that has wrecked countless businesses and lives. He revealed what actual experts are saying quietly all over the world but had yet not been discussed openly in the endless public-relations spin broadcast all day and night.
He said the following:
“If you rethought that or had time to analyze that public health strategy, I don’t know that you would say quarantine everyone. I don’t even know that that was the best public health policy. Young people then quarantined with older people was probably not the best public health strategy because the younger people could have been exposing the older people to an infection. “
Further:
“What we did was we closed everything down. That was our public health strategy. Just close everything, all businesses, old workers, young people, old people, short people, tall people. Every school closed, everything.”
It’s true that anyone following the unfolding fiasco and the gradually emerging data behind it knows that Cuomo is right. The response has not been modern and scientific. It has been medieval and mystical. The theory behind the policy has been nothing but a panicked cry of run and hide before the noxious gas gets you. Lacking reliable data – which is the fault of the CDC and FDA – we replaced knowledge with power.
In the end, this fiasco is an epistemic crisis. As Ed Yong has written in a beautifully detailed article for The Atlantic, “The testing fiasco was the original sin of America’s pandemic failure, the single flaw that undermined every other countermeasure.” Even the wide acceptance of social distancing as a norm, however much it helps curb the spread, presumes this absence of knowledge. Stay away from everyone as much as possible: a slogan that reveals how little we know.
And yet lacking that knowledge, the politicians, cheered on by the media, acted in ways that have fundamentally wrecked life as we knew it, all in the course of a couple of weeks.
The massive knowledge gap was filled by a cascade of predictive models made possible by modern statistical packages readily available by subscription to any member of the clerisy. If this, and this, and this, and if this and this and this, then ENTER. Out pops what appears to be a precise presentation of our future under the following conditions, along with an overlay of embedded cause-and-effect assumptions about certain policies followed or not followed. Day after day we were bombarded with such predictions, and we paid close attention because we had little in the way of actual on-the-ground facts that have been available to us in previous disease panics.
It then became the perfect storm. Risk-averse politicians deciding to do something, anything, to avoid blame. Bureaucrats doing what they do best, which is telling people no, you cannot innovate, you cannot produce, you cannot distribute. Local tyrants stopping price gouging and therefore preventing the price system from working. A howling media famished for eyeballs, ears, and clicks. A public panicked about disease and death. An egregious dividing of people into essential and nonessential. Policy snares, tangles, missed opportunities all around.
The cacophony of information chaos has been palpable, unbearable.
All the while, a few knowledgeable experts have been trying their best to weigh in and get some slight attention for rationality. My heart, in particular, goes out to the esteemed Professor John Ioannidis who has been exposing fake science based on bad data his entire life and has been previously celebrated for doing so. He writes as often as he can, while still trying to be as precise and accurate as he can. Apparently such high-end people have a private email list in which they share observations and data, while doing their best to bring calm while civilization is falling apart.
His first salvo appeared March 17. God bless The National Post for publishing Ioannidis’s latest exasperated piece.
At the moment, we are enacting extremely severe measures in an effort to do something. However, we have very little evidence-based data on how to guide our next steps. We really don’t know where we are, where we are heading, whether our measures are effective, or if we need to modify them. There is a possibility that many of our aggressive measures could be doing more harm than good, especially if they are to be maintained in the long term. There will be major consequences in terms of lives lost, major disruptions to the economy, to the society, and to our civilization.
At this juncture we need to act swiftly. At the same time, we need to act equally swiftly to collect unbiased data that will tell us how many people are infected, the chances that someone who is infected will have a serious outcome and die, how the epidemic is evolving in different settings and places around the world, and what difference we are making with the measures that we’re taking. This information can make a huge difference and there is a lot that can go wrong if we don’t have the right data.
This has been an acute situation. At the same time, collecting reliable data should not take time and should not halt our decision-making process. Getting information on representative samples of the population is very easy. It has been done in Iceland, where they have a cohort covering most of the national population looking at samples that have been provided. They see that they have an infection rate of 1.0 per cent, and up until now only two people have died. So, out of the 3,500 infected people in Iceland there have been two deaths, which corresponds to an infection fatality rate lower than the common flu. Of course, some people may be infected later, but nevertheless, these estimates would be very different compared with the original claims of case fatality rates of 3.4 per cent that were circulated.
At the same time, we have other pieces of evidence that the number of people who are infected is much larger compared with the number of cases we have documented. In most places, with few exceptions around the world, we are just testing people who have substantial symptoms who have come to seek health care or even to be hospitalized. These are just the tip of the iceberg. The Iceland experience and other data from Rome and Italy where entire city populations were tested shows that the vast majority of people are either completely asymptomatic or mildly symptomatic in ways that you would not be able to differentiate from the common cold or common flu. This information makes a huge difference while we are proceeding with aggressive measures of social distancing and lockdowns that may have tremendous repercussions, especially in the long term.
As the song says, stop making sense.
I write on Saturday morning March 28, and right now there are two contrary strains about to collide. On the one hand, you have scientists reducing their death-rate predictions further and further, lopping off zeros by the day. On the other hand, this is accompanied by appalling levels of despotism, even to the point of National Guard checkpoints at state borders and restrictionson what you can buy even at “essential” stores. This gigantic gap between emerging professional medical consensus and appalling policy ignorance is revealing as never before the practical impossibility of scientific public policy.
Then you have the cascade of unintentional and unexpected outcomes of the rush to coerce. It began with Trump’s disastrous block on flights from Europe that sent millions scrambling for tickets and led to an unspeakable crush of people standing shoulder-to-shoulder at our nations’ airports, contradicting the demand that people social distance just when the virus was revealing itself as highly contagious. The very opposite of intended results!
That’s just the beginning. I doubt seriously that the political class in this country, as low a regard I have it, set out to destroy all that we call civilized life, instantly generating millions of unemployed workers and bankrupt businesses all around, not to mention a pandemic of utter hopelessness on the part of vast swaths of the world’s population. Still, this is what they have managed to achieve. This is what their pretense of knowledge – as opposed to actual wisdom – has unleashed on the world, with incalculable human cost.
As for economics, are we talking recession? Depression? Those words indicate cyclical changes in business conditions. My friend Gene Epstein suggests another term for what we are going through. The Great Suppression. There will be months, years, and decades in which to more clearly observe the countless ways in which the supressors piled error upon error, blockage upon blockage, to add to the grotesquery.
What truly should inspire us all right now are the grocers, pharmacists, truck drivers, manufacturers, doctors and nurses, construction workers, service station attendants, webmasters, volunteers of all sorts, philanthropists, and specialists in a huge variety of essential professions who keep life functioning more or less. And let us not forget the “unessential” people (it’s an incorrect and vicious term) who have innovated ways around the Great Suppression to continue to serve others, keep the rent being paid, and food on their tables. They are the means of salvation out of this mess.
The market, hobbled and bludgeoned, still loves you.
As for the politicians, Andrew Cuomo has admitted some of the error. In a much-welcome change, he has even deregulated medical services. There’s just a hint of humility and humanity embedded in these statements and actions. We need more of that, vastly more, if only to contribute to calming things down long enough to gain some perspective, and, hopefully, some eventual realization that in the “land of the free and the home of the brave” a virus should be regarded as a disease to mitigate and cure, not an excuse to bludgeon life on earth as we know it.
Johnny Liberty, Editor’s Note: Once again there’s more than meets the eye in the stimulus bill that just passed unanimously in the U.S. Senate. Apparently, if you read this article you’ll discover that the Federal Reserve has been granted extreme powers to stabilize the economy (which is the code word for bailing out the banks who have overextended themselves since 2008). Coronavirus is yet another smokescreen for transferring power from the people to the international bankers (not saying COVID-19 isn’t real). Another sad day for the future of freedom in the United States of America.
By Pam & Russ Martens
The U.S. Senate voted 96-0 late yesterday on a massive bailout of Wall Street banks versus a short-term survival plan for American workers thrown out of their jobs – and potentially their homes. The text of the final bill was breathtaking in the breadth of new powers it bestowed on the Federal Reserve, including the Fed’s ability to conduct secret meetings with no minutes provided to the American people. The House of Representatives has yet to vote on the bill.
The bill provides specific sums that can be made as loans or loan guarantees to passenger airlines ($25 billion), cargo airlines ($4 billion), and loans and loan guarantees to businesses necessary to national security ($17 billion). But when it comes to the money going to the Federal Reserve and then out the door to Wall Street, the legislation says only this:
“Not more than the sum of $454,000,000,000…shall be available to make loans and loan guarantees to, and other investments in, programs or facilities established by the Board of Governors of the Federal Reserve System for the purpose of providing liquidity to the financial system….”
Why does the Federal Reserve need $454 billion from the U.S. taxpayer to bail out Wall Street when it has the power to create money out of thin air and has already dumped more than $9 trillioncumulatively in revolving loans to prop up Wall Street’s trading houses since September 17, 2019 – long before there was any diagnosis of coronavirus anywhere in the world.
The Fed needs that money to create more Special Purpose Vehicles (SPVs) — the same device used by Enron to hide its toxic debt off its balance sheet before it went belly up. With the taxpayers’ money taking a 10 percent stake in the various Wall Street bailout programs offered by the Fed, structured as SPVs, the Fed can keep these dark pools off its balance sheet while levering them up 10-fold.
White House Economic Adviser Larry Kudlow acknowledged plans by the Fed to leverage the money at a White House press briefing this week, stating that the money the Treasury is handing over to the Fed would result in “$4 trillion in Federal Reserve lending power.”
The Fed has already created one of these SPVs. On March 17, the Fed said it was creating a Commercial Paper Funding Facility (CPFF) that would work like this:
“The Treasury will provide $10 billion of credit protection to the Federal Reserve in connection with the CPFF from the Treasury’s Exchange Stabilization Fund (ESF). The Federal Reserve will then provide financing to the SPV under the CPFF. Its loans will be secured by all of the assets of the SPV.”
The Fed also used SPVs during the 2007-2010 financial crisis to buy toxic debt from Bear Stearns to facilitate its takeover by JPMorgan Chase and to prop up AIG, a giant insurer that had gorged on Wall Street’s tricked-up derivatives. Those programs became known as Maiden Lane I, II and III.
Adding to the suspicions that the Fed doesn’t want to have to battle Freedom of Information Act (FOIA) requests (sunshine law requests) again in court, as it did and lost during the last financial crisis to keep its outrageous $29 trillion bailout program to Wall Street a secret from the public, the Senate-approved stimulus bill repeals the sunshine law for the Fed’s meetings until the President says the coronavirus threat is over or the end of this year. That could make any FOIA lawsuits to unleash details of what’s going on next to impossible since it has been codified in a federal law. The bill states the following:
SEC. 4009. TEMPORARY GOVERNMENT IN THE SUNSHINE ACT RELIEF. (a) IN GENERAL.—Except as provided in subsection 8 (b), notwithstanding any other provision of law, if the Chairman of the Board of Governors of the Federal Reserve System determines, in writing, that unusual and exigent circumstances exist, the Board may conduct meetings without regard to the requirements of section 552b of title 5, United States Code, during the period beginning on the date of enactment of this Act and ending on the earlier of— (1) the date on which the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 20 U.S.C. 1601 et seq.) terminates; or (2) December 31, 2020.
This could mean that the American taxpayer may never learn why it went into debt to the tune of $454 billion if no records are being maintained.
Wall Street’s mega banks and their primary regulator, the Federal Reserve, are no longer just a threat to the safety and soundness of the U.S. banking system — together they are an unparalleled and unprecedented threat to the idea of democracy as we understand it.
We find it difficult to believe that Senators Bernie Sanders, Elizabeth Warren, Sherrod Brown and Jeff Merkley would vote in favor of this legislation – given their in-depth knowledge of what the Fed did during the last financial crisis. The public deserves an honest explanation from each of them.
Source: Counterpunch & Wall Street on Parade
Johnny Liberty, Editor’s Note: The ink was barely dry on the $2t stimulus bill before the two largest investment banks in America are now 51% owners of their respective investment banks in guess what country? China. Furthermore, with the prime rate at 0.25% these banks get to borrow as much from the Fed as they’d like and invest it anywhere in the world they’d like. China. This is funded by U.S. taxpayers in the long-run, but as we know the debt can NEVER be paid off.
By Zhang Yan and Julie Zhu
Goldman Sachs and Morgan Stanley said on March 27 they had received the final regulatory approvals to take majority stakes in their China securities joint ventures.
The approvals come as policymakers and authorities step up efforts to shield the world’s second-largest economy, battered by the CCP virus pandemic.
The Epoch Times refers to the novel coronavirus, which causes the disease COVID-19, as the CCP virus because the Chinese Communist Party’s coverup and mismanagement allowed the virus to spread throughout China and create a global pandemic.
Goldman and Morgan Stanley received the nods from the China Securities Regulatory Commission to raise their stakes in Goldman Sachs Gao Hua Securities and Morgan Stanley Huaxin Securities from 33 percent to 51 percent and 49 percent to 51 percent, respectively, the two Wall Street banks said in separate statements.
Majority ownership of the joint ventures potentially allows the U.S. banks to expand operations in China, and better integrate them with their global businesses.
Goldman in 2004 set up its China securities JV with Beijing Gao Hua Securities, which was co-founded by veteran Chinese banker Fang Fenglei.
Unlike most of the other China JVs, Goldman already has day-to-day operational control of its JV, which offers investment banking services such as equities and bond underwriting and deal advice.
Swiss lender UBS became the first foreign bank to hold a majority stake in a China securities business under the new rules in 2018. Japanese brokerage Nomura Holdings and JPMorgan got their approvals last year.
Credit Suisse is still awaiting approval after it submitted an application for majority-controlled securities JV.
Beijing promised to scrap foreign ownership caps on securities firms and mutual funds for foreign investors from April 1, in an interim Sino-U.S. trade deal signed in January.
The approvals for Goldman and Morgan Stanley come a day before China temporarily bars entry for most foreigners as an interim measure in response to the CCP virus epidemic.
Market participants said the thumbs up was a sign the country is continuing with the formal opening up of financial markets, despite the CCP virus.
Last Friday, Shanghai said some of the world’s top financial institutions, including BlackRock and JPMorgan, were stepping up investments in China’s financial hub, undeterred by the pandemic.
Despite that managerial control, Goldman has long made it clear it would eventually seek to take a majority stake too.
Shanghai-based Morgan Stanley Huaxin Securities was established in 2011 and its existing operations include underwriting and sponsoring equity and debt offerings as well as proprietary trading of bonds, it says on its website.
China raised the cap on foreign ownership of securities operations to 51 percent in 2018. Until then international banks had been allowed only minority stakes in their Chinese joint ventures.
Source: The Epoch Times