When the Economy Gets Squeezed by Too Little Energy

Most people have a simple, but wrong, idea about how the world economy will respond to “not enough energy to go around.” They expect that oil prices will rise. With these higher prices, producers will be able to extract more fossil fuels so the system can go on as before. They also believe that wind turbines, solar panels and other so-called renewables can be made with these fossil fuels, perhaps extending the life of the system further.

The insight people tend to miss is the fact that the world’s economy is a physics-based, self-organizing system. Such economies grow for many years, but ultimately, they collapse. The underlying problem is that the population tends to grow too rapidly relative to the energy supplies necessary to support that population. History shows that such collapses take place over a period of years. The question becomes: What happens to an economy beginning its path toward full collapse?

One of the major uses for fossil fuel energy is to add complexity to the system. For example, roads, electricity transmission lines, and long-distance trade are forms of complexity that can be added to the economy using fossil fuels.

Figure 1. Chart by author pointing out that energy consumption and complexity are complementary. They operate in different directions. Complexity, itself, requires energy consumption, but its energy consumption is difficult to measure.

When energy per capita falls, it becomes increasingly difficult to maintain the complexity that has been put in place. It becomes too expensive to properly maintain roads, electrical services become increasingly intermittent, and trade is reduced. Long waits for replacement parts become common. These little problems build on one another to become bigger problems. Eventually, major parts of the world’s economy start failing completely.

When people forecast ever-rising energy prices, they miss the fact that market fossil fuel prices consider both oil producers and consumers. From the producer’s point of view, the price for oil needs to be high enough that new oil fields can be profitably developed. From the consumer’s point of view, the price of oil needs to be sufficiently low that food and other goods manufactured using oil products are affordable. In practice, oil prices tend to rise and fall, and rise again. On average, they don’t satisfy either the oil producers or the consumers. This dynamic tends to push the economy downward.

There are many other changes, as well, as fossil fuel energy per capita falls. Without enough energy products to go around, conflict tends to rise. Economic growth slows and turns to economic contraction, creating huge strains for the financial system. In this post, I will try to explain a few of the issues involved.

[1] What is complexity?

Complexity is anything that gives structure or organization to the overall economic system. It includes any form of government or laws. The educational system is part of complexity. International trade is part of complexity. The financial system, with its money and debt, is part of complexity. The electrical system, with all its transmission needs, is part of complexity. Roads, railroads, and pipelines are part of complexity. The internet system and cloud storage are part of complexity.

Wind turbines and solar panels are only possible because of complexity and the availability of fossil fuels. Storage systems for electricity, food, and fossil fuels are all part of complexity.

With all this complexity, plus the energy needed to support the complexity, the economy is structured in a very different way than it would be without fossil fuels. For example, without fossil fuels, a high percentage of workers would make a living by performing subsistence agriculture. Complexity, together with fossil fuels, allows the wide range of occupations that are available today.

[2] The big danger, as energy consumption per capita falls, is that the economy will start losing complexity. In fact, there is some evidence that loss of complexity has already begun.

In my most recent post, I mentioned that Professor Joseph Tainter, author of the book, The Collapse of Complex Societies, says that when energy supplies are inadequate, the resulting economic system will need to simplify–in other words, lose some of its complexity. In fact, we can see that such loss of complexity started happening as early as the Great Recession in 2008-2009.

The world was on a fossil fuel energy consumption per capita plateau between 2007 and 2019. It now seems to be in danger of falling below this level. It fell in 2020, and only partially rebounded in 2021. When it tried to rebound further in 2022, it hit high price limits, reducing demand.

Figure 2. Fossil fuel energy consumption per capita based on data of BP’s 2022 Statistical Review of World Energy.

There was a big dip in energy consumption per capita in 2008-2009 when the economy encountered the Great Recession. If we compare Figure 2 and Figure 3, we see that the big drop in energy consumption is matched by a big drop in trade as a percentage of GDP. In fact, the drop in trade after the 2008-2009 recession never rebounded to the former level.

Figure 3. Trade as a percentage of world GDP, based on data of the World Bank.

Another type of loss of complexity involves the drop in the recent number of college students. The number of students was rising rapidly between 1950 and 2010, so the downward trend represents a significant shift.

Figure 4. Total number of US full-time and part-time undergraduate college and university students, according to the National Center for Education Statistics.

The shutdowns of 2020 added further shifts toward less complexity. Broken supply lines became more of a problem. Empty shelves in stores became common, as did long waits for newly ordered appliances and replacement parts for cars. People stopped buying as many fancy clothes. Brick and mortar stores did less well financially. In person conferences became less popular.

We know that, in the past, economies that collapsed lost complexity. In some cases, tax revenue fell too low for governments to maintain their programs. Citizens became terribly unhappy with the poor level of government services being provided, and they overthrew the governmental system.

The US Department of Energy states that it will be necessary to double or triple the size of the US electric grid to accommodate the proposed level of clean energy, including EVs, by 2050. This is, of course, a kind of complexity. If we are already having difficulty with maintaining complexity, how do we expect to double or triple the size of the US electric grid? The rest of the world would likely need such an upgrade, as well. A huge increase in fossil fuel energy, as well as complexity, would be required.

[3] The world’s economy is a physics-based system, called a dissipative structure.

Energy products of the right kinds are needed to make goods and services. With shrinking per capita energy, there will likely not be enough goods and services produced to maintain consumption at the level citizens are used to. Without enough goods and services to go around, conflict tends to grow.

Instead of growing and experiencing economies of scale, businesses will find that they need to shrink back. This makes it difficult to repay debt with interest, among other things. Governments will likely need to cut back on programs. Some governmental organizations may fail completely.

To a significant extent, how these changes happen is related to the maximum power principle, postulated by ecologist Howard T. Odum. Even when some inputs are inadequate, self-organizing ecosystems try to maintain themselves, as best possible, with the reduced supplies. Odum said, “During self-organization, system designs develop and prevail that maximize power intake, energy transformation, and those uses that reinforce production and efficiency.” As I see the situation, the self-organizing economy tends to favor the parts of the economy that can best handle the energy shortfall that will be taking place.

In Sections [4], [5], and [6], we will see that this methodology seems to lead to a situation in which competition leads to different parts of the economy (energy producers and energy consumers) being alternately disadvantaged. This approach leads to a situation in which the human population declines more slowly than in either of the other possible outcomes:

  • Energy producers win, and high energy prices prevail – The real outcome would be that high prices for food and heat for homes would quickly kill off much of the world’s population because of lack of affordability.
  • Energy consumers always win, and low energy prices prevail – The real outcome would be that energy supplies would fall very rapidly because of inadequate prices. Population would fall quickly because of a lack of energy supplies (particularly diesel fuel) needed to maintain food supplies.

[4] Prices: Competition between producers and customers will lead to fossil fuel energy prices that alternately rise and fall as extraction limits are hit. In time, this pattern can be expected to lead to falling fossil fuel energy production.

Energy prices are set through competition between:

[a] The prices that consumers can afford to pay for end products whose costs are indirectly determined by fossil fuel prices. Food, transportation, and home heating costs are especially fossil fuel price sensitive. Poor people are the most quickly affected by rising fossil fuel prices.

[b] The prices that producers require to profitably produce these fuels. These prices have been rising rapidly because the easy-to-extract portions were removed earlier. For example, the Wall Street Journal is reporting, “Frackers Increase Spending but See Limited Gains.”

If fossil fuel prices rise, the indirect result is inflation in the cost of many goods and services. Consumers become unhappy when inflation affects their lifestyles. They may demand that politicians put price caps in place to somehow stop this inflation. They may encourage politicians to find ways to subsidize costs, so that the higher costs are transferred to a different part of the economy. At the same time, the producers need the high prices, to be able to fund the greater reinvestment necessary to maintain, and even raise, future fossil fuel energy production.

The conflict between the high price producers need and the low prices that many consumers can afford is what leads to temporarily spiking energy prices. In fact, food prices tend to spike, too, since food is a kind of energy product for humans, and fossil fuel energy products (oil, especially) are used in growing and transporting the food products. In their book, Secular Cycles, researchers Peter Turchin and Sergey Nefedov report a pattern of spiking prices in their analysis of historical economies that eventually collapsed.

With oil prices spiking only temporarily, energy prices are, on average, too low for fossil fuel producers to afford adequate funds for reinvestment. Without adequate funds for reinvestment, production begins to fall. This is especially a problem as fields deplete, and funds needed for reinvestment rise to very high levels.

[5] Demand for Discretionary Goods and Services: Indirectly, demand for goods and services, especially in discretionary sectors of the economy, will also tend to get squeezed back by the rounds of inflation caused by spiking energy prices described in Item [4].

When customers are faced with higher prices because of spiking inflation rates, they will tend to reduce spending on discretionary items. For example, they will go out to eat less and spend less money at hair salons. They may travel less on vacation. Multiple generation families may move in together to save money. People will continue to buy food and beverages since these are essential.

Businesses in discretionary areas of the economy will be affected by this lower demand. They will buy fewer raw materials, including energy products, reducing the overall demand for energy products, and tending to pull energy prices down. These businesses may need to lay off workers and/or default on their debt. Laying off workers may further reduce demand for goods and services, pushing the economy toward recession, debt defaults, and thus lower energy prices.

We find that in some historical accounts of collapses, demand ultimately falls to close to zero. For example, see Revelation 18:11-13 regarding the fall of Babylon, and the lack of demand for goods, including the energy product of the day: slaves.

[6] Higher Interest Rates: Banks will respond to rounds of inflation described in Item [4] by demanding higher interest rates to offset the loss of buying power and the greater likelihood of default. These higher interest rates will have adverse impacts of their own on the economy.

If inflation becomes a problem, banks will want higher interest rates to try to offset the adverse impact of inflation on buying power. These higher interest rates will tend to reduce demand for goods that are often bought with debt, such as homes, cars, and new factories. As a result, the sale prices of these assets are likely to fall. Higher interest rates will tend to produce the same effect for many types of assets, including stocks and bonds. To make matters worse, defaults on loans may also rise, leading to write-offs for the organizations carrying these loans on their balance sheets. For example, the used car dealer Caravan is reported to be near bankruptcy because of issues related to falling used car prices, higher interest rates, and higher default rates on debt.

An even more serious problem with higher interest rates is the harm they do to the balance sheets of banks, insurance companies, and pension funds. If bonds were previously purchased at a lower interest rate, the value of the bonds is less at a higher interest rate. Accounting for these organizations can temporarily hide the problem if interest rates quickly revert to the lower level at which they were purchased. The real problem occurs if inflation is persistent, as it seems to be now, or if interest rates keep rising.

[7] A second major conflict (after the buyer/producer conflict in Item [4], [5], and [6]) is the conflict in how the output of goods and services should be split between returns to complexity and returns to basic production of necessary goods including food, water, and mineral resources such as fossil fuels, iron, nickel, copper, and lithium.

Growing complexity in many forms is something that we have come to value. For example, physicians now earn high wages in the US. People in top management positions in companies often earn very high wages. The top people in large companies that buy food from farmers earn high wages, but farmers producing cattle or growing crops don’t fare nearly as well.

As energy supply becomes more constrained, the huge chunks of output taken by those with advanced degrees and high positions within the large companies gets to be increasingly problematic. The high incomes of citizens in major cities contrasts with the low incomes in rural areas. Resentment among people living in rural areas grows when they compare themselves to how well people in urbanized areas are doing. People in rural areas talk about wanting to secede from the US and wanting to form their own country.

There are also differences among countries in how well their economies get rewarded for the goods and services they produce. The United States, the EU, and Japan have been able to get better rewards for the complex goods that they produce (such as banking services, high-tech medicine, and high-tech agricultural products) compared to Russia and the oil exporting countries of the Middle East. This is another source of conflict.

Comparing countries in terms of per capita GDP on a Purchasing Power Parity (PPP) basis, we find that the countries that focus on complexity have significantly higher PPP GDP per capita than the other areas listed. This creates resentment among countries with lower per-capita PPP GDP.

Figure 5. Average Purchasing Power Parity GDP Per Capita in 2021, in current US dollars, based on data from the World Bank.

Russia and the Arab World, with all their energy supplies, come out behind. Ukraine does particularly poorly.

The conflict between Russia and Ukraine is between two countries that are doing poorly on this metric. Ukraine is also much smaller than Russia. It appears that Russia is in a conflict with a competitor that it is likely to be able to defeat, unless NATO members, including the US, can give immense support to Ukraine. As I discuss in the next section, the industrial ability of the US and the EU is waning, making it difficult for such support to be available.

[8] As conflict becomes a major issue, which economy is largest and is best able to defend itself becomes more important.

Figure 6. Total (not per capita) PPP GDP for the US, EU, and China, based on data of the World Bank.

Back in 1990, the EU had a greater PPP GDP than did either the US or China. Now, the US is a little ahead of the EU. More importantly, China has come from way behind both the US and EU, and now is clearly ahead of both in PPP GDP.

We often hear that the US is the largest economy, but this is only true if GDP is measured in current US dollars. If differences in actual purchasing power are reflected, China is significantly ahead. China is also far ahead in total electricity production and in many types of industrial output, including cement, steel, and rare earth minerals.

The conflict in Ukraine is now leading countries to take sides, with Russia and China on the same side, and the United States together with the EU on Ukraine’s side. While the US has many military bases around the world, its military capabilities have increasingly been stretched thin. The US is a major oil producer, but the mix of oil it produces is of lower and lower average quality, especially if obtaining diesel and jet fuel from it are top priorities.

Figure 7. Chart by OPEC, showing the mix of liquids that now make up US production. Even the “Tight crude” tends to be quite “light,” making it less suitable for producing diesel and jet fuel than conventional crude oil. Chart from OPEC’s February 2023 Monthly Oil Market Report.

Huge pressure is building now for China and Russia to trade in their own currencies, rather than the US dollar, putting pressure on the US financial system and its status as the reserve currency. It is also not clear whether the US would be able to fight on more than one front in a conventional war. A conflict with Iran has been mentioned as a possibility, as has a conflict with China over Taiwan. It is not at all clear that a conflict between NATO and China-Russia is winnable by the NATO forces, including the US.

It appears to me that, to save fuel, more regionalization of trade is necessary with the Asian countries being primary trading partners of each other, rather than the rest of the world. If such a regionalization takes place, the US will be at a disadvantage. It currently depends on supply lines stretching around the world for computers, cell phones, and other high-tech devices. Without these supply lines, the standards of living in the US and the EU would likely decline quickly.

[9] Clearly, the narratives that politicians and the news media tell citizens are under pressure. Even if they understand the true situation, politicians need a different narrative to tell voters and young people wondering about what career to pursue.

Every politician would like a “happily ever after” story to tell citizens. Fortunately, from the point of view of politicians, there are lots of economists and scientists who put together what I call “overly simple” models of the economy. With these overly simple models of the economy, there is no problem ahead. They believe the standard narrative about oil and other energy prices rising indefinitely, so there is no energy problem. Instead, our only problem is climate change and the need to transition to green energy.

The catch is that our ability to scale up green energy is just an illusion, built on the belief that complexity can scale up indefinitely without the use of fossil fuels.

We are left with a major problem: Our current complex economy is in danger of degrading remarkably in the next few years, but we have no replacement available. Even before then, we may need to do battle, in new ways, with other countries for the limited resources that are available.

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
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4,563 Responses to When the Economy Gets Squeezed by Too Little Energy

  1. Lastcall says:

    So we now have the banking crisis that the Covid scam merely postponed.

    The big difference now is that there has been;
    1) A reasonably successful propaganda run-through; most are on-board despite the red flags.
    2) The idiots are juiced up, and most likely with graphene.
    3) The CBDC platform has had more time in development
    4) The 5G roll-out didn’t miss a beat and there are towers even in remote (non-viable commercially) locations.
    5) Draconian laws are a mere ‘crisis’ away
    6) More and more normies are on board the climate idiot bus heading to their prison city.

    So with the control systems (people love to think they have control over other people, from minions through to ‘leaders’) in place (as best they can be), sheople will be herded into Smart cities, CBDC’s, 15 min ghetto’s, and a carbon free stupified video-game-life.

    Of course it will be via nudge nudge, wink wink and climate justice committees and 5 mins of hate for the designated fall guy – and it will be perfectly normal if this is all that you have known.

    The memory hole in NZ extends to the Met service only having available climate records back until 2006; expect more of the same as we head towards ‘Year of our Ford’.
    New beginnings normies!

    Get on the train to nowhere.

    • Yes, each new crisis builds on the foundation laid by the previous crises.

    • Fast Eddy says:

      Maybe .. but I can’t see how BAU does not collapse if all of this is implemented >>> BAU Lite (or BAU Totalitarian Lite)….

      It could perhaps drag things on for a bit longer though … allowing the Elders to enjoy more Champagne … keep in mind if they determined burning 10 million children alive would get them another month of Champagne – they’d not hesitate.

      I do hope we are not headed for BAUTL… I much prefer extermination via UEP.

  2. Fast Eddy says:

    Dowd: COVID Vaccines ‘Are Devastating Our Economy’


    I stand vigil … in the rain … in the cold… in the sleet… in the VIP Room … watching for the Bossche Mutation to arrive.

  3. Fast Eddy says:

    One hour 10 minute mark >>> vaccine injuries will be insignificant vs what will eventually happen…

    Worst case scenario? The numbers will be completely unprecedented.

    Obviously that collapses BAU … therefore it has to be UEP — a horrifying mutation that kills billions – the rest finished off by starvation and perhaps a nuke launch.

    Enjoy your time in the bubble…

    And btw – there is no guarantee this happens before BAU blows to bits as it is starved of cheap energy.

    They are doing evil to do good — as Milner mentions in Utopia.


    • ivanislav says:

      You keep posting that troglodyte. How much do you get paid per post?

      • Fast Eddy says:

        Feel free to explain why they are mass deploying a leaky vaccine over and over during a pandemic.

        Oh and why are they giving out Paxlovid like candy when studies confirm it causes viral mutation.

        Standing by

        • ivanislav says:

          We have a leaky flu vaccine EVERY SINGLE YEAR FOR DECADES and yet there has been no flu Bosche Mutation. The “theory” (using the term loosely) is demonstrably bull.

          • Fast Eddy says:

            If you would actually watch the video – he addresses that — we do NOT deploy the flu vaccine during flu season – it is done prior to the flu season.

            Stop wasting my time with your bullshit or Fast Eddy will come for you.

            • ivanislav says:

              >> we do NOT deploy the flu vaccine during flu season – it is done prior to the flu season.


            • Fast Eddy says:

              Do you ever recall billions of doses of flu vaccine given during the height of the flu season?

              They give the vaccine prior to the flu season – yes if you were to ask for during they would give it to you — but they do not mass vaccinate during the season.

              It causes mutations.

              Leaky vaccines promote the transmission of more virulent virus

              The results suggest that disease interventions that aim to prevent disease symptoms without preventing transmission can have dangerous evolutionary consequences and need to be considered in cases with imperfect vaccines. The findings were published this month in PLoS Biology and can be accessed here. The video press release is also available here.


      • eddy has to keep his comment numbers up

  4. Fast Eddy says:

    53 minute — asked why top virologists don’t know mass vax with a leaky vaccine (a basic law in the industry – see flu vax) during a pandemic .. he lets them off the hook and says it’s a mistake https://thehighwire.com/videos/vaccine-expert-warns-of-covid-vaccination-catastrophe/


    • lurker says:


      this reminds me of the time i met an economics professor and we got chatting about the nature of money; i mentioned fiat money, and he said, i’ve heard that term, what does it mean?

      re:mutations, if holland is a proxy for the rest of the world, more people have covid now than ever before:


      it’s apparently the new XBB.1.16 variant, as per previous epidemics, each mutation is more infectious but less dangerous, so it seems Bossche is wrong thus far. couple that with the wrong antibody response due to the vaccines (i.e. the vexxed tolerate, rather than fight, viruses due to IgG4) and i think it explains why so many people are ill now – the viral load the vexxed carry is high and persistent, so there’s plenty of virus to go around.

      • Fast Eddy says:

        In a sane society, when a new virus emerges that kills off elderly in nursing homes with three or four pre-existing conditions, you allow it to run its natural course. Nobody really wants to live in a nursing home, but many people have religious or other reservations against euthanasia. We don’t have the capacity to take care in a dignified manner of the massive growth in disabled elderly people.

        I visited my grandmothers from time to time in the nursing home. My father’s mother became delirious, she would see people the rest of us can not see. It was as if she was already standing with one foot in the afterlife. I’d find her walking hurriedly through the hallway of the nursing home, telling me that people were chasing her. She had to live out the last year or so of her life in a place that always smelled like urine. The last years of her life were a waste that merely robbed her of dignity and subjected her to pointless suffering.

        In our society, an insane society, we deployed an experimental therapeutic on the whole population, in an effort to stop people from dying. It’s not a vaccine, at best it is a failed attempt at a vaccine. It seems to reduce severe disease by inducing tolerance, prohibiting the immune system from overreacting to a novel virus. Whether that happened by accident or was always the intention is unclear to me, but the price you pay is the birth of a demographic that constantly spreads this virus.

        100% agree — 5 years ago I visited an aunt who was in one of these death camps… the entire place reeked of stale urine and shit… I couldn’t wait to get out of there.

        As for Bossche being correct — he is correct in that the leaky Rat Juice is driving constant mutations… increasingly infectious …. we have Marek’s as an example of what can happen — but there is no guarantee it will happen … at least not within a specific time frame — and Bossche admits that….

        We’ve got nearly 6B pulling the handles… eventually you hit the jackpot

        The thing is … the financial system is teetering … we need that mutation desperately… otherwise 8B will be on the rampage


  5. Fast Eddy says:

    48 minute mark… multiple publications warning of risk of deadly mutation …


  6. Fast Eddy says:

    And our mate with cancer of the pancreas… caught it early … diagnosed in Jan… prognosis was fairly positive — bit of chemo then surgery…

    Spiralled badly in March — brutal fever — terribly ill – chemo stopped…

    And now he’s into the ICU.

    Fully boosted.

    Doctors of course not connecting the dots even though they told him they were surprised as he has none of the usual risks:

    Risk factors

    Factors that may increase your risk of pancreatic cancer include:

    Chronic inflammation of the pancreas (pancreatitis)
    Family history of genetic syndromes that can increase cancer risk, including a BRCA2 gene mutation, Lynch syndrome and familial atypical mole-malignant melanoma (FAMMM) syndrome
    Family history of pancreatic cancer
    Older age, as most people are diagnosed after age 65

    This VAIDS thing is terrible… as is Turbo Cancer

  7. MG says:

    Some time ago, I would say that turning arable land into industrial parks or urban areas is a damage to the food production and the loss of a valuable soil.

    Now, when I realize, that it is a constant influx of the compost that makes the land fertile, there is no pity in me for such activities on the dead soil.

    Ploughing is just a masquerade of not enough compost.

    The depletion of the soil is catastrophic, which the majority of the people are not aware of.

    That is why the agriculture has become dependent on the industry that provides stronger and stronger machines for ploughing the hard substrate.

    • Herbie Ficklestein. says:

      Remember reading once an Native American Indian examined a farmer tilling the sod over in the Midwest prairie he shouted…”Wrong Way Up!”.

      MG, you are absolutely correct…soil erosion is devasting and will take this civilization downward. Ironic is it not that for a time our worldview was the mindset of progress to “free” mankind from the toil of working the soil!

      I shutter to think of the aftermath once industrial agricultural is abandoned, and the wasteland that follows.

    • Mrs S says:

      We should never have flushed our poop.

      Compost toilets would have been a better idea.

      • This is a fundamental problem. Also, shipping food around the world moves nutrients around. Even shipping food to cities leads to a need to ship waste back to farmland. Having our waste product polluted by all kinds of pharmaceutical chemicals becomes a huge problem, however.

        • Mrs S says:

          Yes indeed.

          I have an elderly neighbour who told us about a farm that used to exist at the end of our road (it is now a housing estate). In the mornings the farmer would collect poop from all the houses and reward the residents with fabulous vegetables.

          Nowadays the poop would be full of hormones, antibiotics, anti-fungals, steroids and chemotherapy.

      • Herbie Ficklestein. says:

        Like done in China…

  8. Mirror on the wall says:

    Col. Macgregor has given an update of the situation in UKR and USA. Very informed and insightful. UKR is clearly headed for defeat, and USA is liable to seek to turn the page on the conflict.

  9. Mirror on the wall says:

    This is the translation of Putin’s newspaper article published today as Xi arrived in Moscow for a state visit.


    Vladimir Putin’s Article for People’s Daily Newspaper, Russia and China: A Future-Bound Partnership

    I am glad to seize this opportunity to address the friendly Chinese people in one of the largest and most authoritative world media in advance of the state visit of President of the People’s Republic of China Xi Jinping to Russia. This landmark event reaffirms the special nature of the Russia-China partnership, which has always been built on mutual trust, respect for each other’s sovereignty and interests.

    We have high expectations for the upcoming talks. We have no doubt that they will give a new powerful impetus to our bilateral cooperation in its entirety. This is also a great opportunity for me to meet with my good old friend with whom we enjoy the warmest relationship.

    I made acquaintance with Comrade Xi Jinping in March 2010 when he visited Moscow as head of a high-level Chinese delegation. Our first meeting was held in a very business-like and at the same time sincere and friendly atmosphere. I really like this style of communication. I know that people in China attach great importance to friendship and personal relationships. It is no coincidence that Confucius the Sage said: ”Is it not a joy to have friends coming from afar!“ In Russia we share this value and hold real friends for brothers. Our two peoples have very much in common here.

    Three years later, about the same days in March, we met again in the capital of Russia. It was Xi Jinping’s first state visit to our country after his election as President of the People’s Republic of China. The summit set the tone and dynamics of Russia-China relations for many years to come, became clear evidence of the special nature of relations between Russia and China, and outlined the trajectory for their accelerated and sustainable development.

    Since then, a decade has passed, which is but a fleeting moment in the history of our countries sharing a centuries-old tradition of good neighbourliness and cooperation. During this time, the world has seen many changes, often not for the better. Yet the main thing has remained unchanged: I am talking of the firm friendship between Russia and China, which is consistently growing stronger for the benefit and in the interest of our countries and peoples. The progress made in the development of bilateral ties is impressive. The Russia-China relations have reached the highest level in their history and are gaining even more strength; they surpass Cold War-time military-political alliances in their quality, with no one to constantly order and no one to constantly obey, without limitations or taboos. We have reached an unprecedented level of trust in our political dialogue, our strategic cooperation has become truly comprehensive in nature and is standing on the brink of a new era. President Xi Jinping and I have met about 40 times and have always found time and opportunity to talk in a variety of official formats as well as at no‑tie events.

    Our priorities include trade and economic partnership. In 2022, our bilateral trade, which had already been considerable by the time, doubled to reach USD 185 billion. This is a new record. What is more, we have every reason to believe that the USD 200 billion target, which was set by President Xi Jinping and myself, will be exceeded as early as this year instead of 2024. It is noteworthy that the share of settlements in national currencies in our mutual trade is growing, further strengthening the sovereignty of our relations.

    Long-term joint plans and programs are being successfully implemented. It will be no exaggeration to say that the Power of Siberia Russian-Chinese gas pipeline has become the ”deal of the century“ for its scale. The supplies of Russian oil and coal have increased significantly. Our specialists are involved in building new nuclear power units in China, while Chinese companies actively engage in LNG projects; our industrial and agricultural cooperation is growing stronger. Together we explore outer space and develop new technologies.

    Russia and China are powers with ancient and unique traditions and an enormous cultural heritage. Now that all pandemic-related restrictions on mutual contacts have been lifted, it is important that we increase humanitarian and tourist exchanges as soon as possible, thereby strengthening the social basis of the Russian-Chinese partnership. Interstate thematic years have a special role to play in this context. For example, the 2022/2023 biennium is dedicated to cooperation in the field of physical culture and sports, which is very popular among our citizens.

    Unlike some countries claiming hegemony and bringing discord to the global harmony, Russia and China are literally and figuratively building bridges. Last year our border regions were connected by two new bridge crossings over the Amur river, which has been a ”river of friendship“ since time immemorial. Amidst the ”waves and winds“ that sweep the planet, we closely cooperate in international affairs and effectively coordinate our foreign policy positions, counter common threats, and respond to current challenges, standing shoulder to shoulder as a ”rock amid a fast flowing stream.“ We actively promote democratic multilateral structures such as the SCO and BRICS, which become more and more authoritative and influential and attract new partners and friends. The work aimed at coordinating the development of the Eurasian Economic Union with the One Belt, One Road Initiative also goes in this vein.

    Our countries, together with like-minded actors, have consistently advocated the shaping of a more just multipolar world order based on international law rather than certain ”rules“ serving the needs of the ”golden billion.“ Russia and China have consistently worked to create an equitable, open and inclusive regional and global security system that is not directed against third countries. In this regard, we note the constructive role of China’s Global Security Initiative, which is in line with the Russian approaches in this area.

    We can feel the geopolitical landscape in the outside world change dramatically. Sticking more stubbornly than ever to its obsolete dogmata and vanishing dominance, the ”Collective West“ is gambling on the fates of entire states and peoples. The US’s policy of simultaneously deterring Russia and China, as well as all those who do not bend to the American dictation, is getting ever more fierce and aggressive. The international security and cooperation architecture is being dismantled. Russia has been labelled an ”immediate threat“ and China a ”strategic competitor.“

    We appreciate the well-balanced stance on the events in Ukraine adopted by the PRC, as well as its understanding of their historical background and root causes. We welcome China’s readiness to make a meaningful contribution to the settlement of the crisis. Like our friends in China, we advocate for the strict compliance with the UN Charter, respect for the norms of international law, including humanitarian law. We are committed to the principle of the indivisibility of security, which is being grossly violated by the NATO bloc. We are deeply concerned over the irresponsible and outright dangerous actions that jeopardize nuclear security. We reject illegitimate unilateral sanctions, which must be lifted.

    Russia is open to the political and diplomatic resolution of the Ukraine crisis. It was not Russia who broke off the peace talks back in April 2022. The future of the peace process depends solely on the will to engage in a meaningful discussion taking into account current geopolitical realities. Unfortunately, the ultimatum nature of requirements placed on Russia shows that their authors are detached from these realities and lack interest in finding a solution to the situation.

    The crisis in Ukraine, which was provoked and is being diligently fuelled by the West, is the most striking, yet not the only, manifestation of its desire to retain its international dominance and preserve the unipolar world order. It is crystal clear that NATO is striving for a global reach of activities and seeking to penetrate the Asia-Pacific. It obvious that there are forces persistently working to split the common Eurasian space into a network of ”exclusive clubs“ and military blocs that would serve to contain our countries’ development and harm their interests. This won’t work.

    In fact, today, the Russia-China relations serve as the cornerstone of regional and global stability, driving the economic growth and securing the positive agenda in international affairs. They provide an example of harmonious and constructive cooperation between major powers.

    I am convinced that our friendship and partnership based on the strategic choice of the peoples of the two countries will further grow and gain strength for the well-being and prosperity of Russia and China. This visit of the President of the PRC to Russia will undoubtedly contribute to that.

  10. Fast Eddy says:

    Funded by Deep State – worked for decades with Deep State = Deep State

    Robert Malone


    I do wonder about Kirsch … he keeps sending emails to the minions … and they keep ignoring them … as they ignore his offers to debate… and he insists there is no malicious intent.

    He never takes any serious action … he ignores my endless suggestions to print out stickers with Vax = Danger messaging … or small photos with the vax injury noted… and sell them at cost + shipping.

    Does anyone not think that is a great idea? Rather odd he’s not willing to go there…

    • CTG says:

      It is all a simulation to see if the masses can wake up. Kirsch is just an AI doing it

      • Fast Eddy says:

        Yep – that’s why FE gets no response when he taunts with the stickers….

        Just recently he offered someone on a flight 100k to take their mask off… what a total f789ing wanker… how about instead telling us how he used all the washrooms and put a Vaccines Kill sticker in each one?

        • no you didnt eddy—you are just telling lies again.

          like every other soap box orator and bar stool philosopher—you make it up as you go along, just to attract attention on OFW–because you cant get attention anywhere else..o

          Hmmmmm—I maybe an aged person, but I’m not on OFW at 3 am

          You just tell blatant lies eddy—I’ve caught you out several times—a real BS artist.

          Insecurity eddy—insecurity —13 comments–straight off, will no one else take you seriously eddy?

          Add this to the lies about the Med centre girls killing you—and the rows with the police.

          They never happened.

  11. Fast Eddy says:

    The UCSF Chief Medical Officer has issued a verbal directive that medical staff (doctors, nurses, techs, etc.) are specifically instructed NOT to associate the COVID vaccine to any injuries. So even if they believe the vaccine caused the injury they are NOT allowed to talk to the patient about it. Can you explain how this is in a patient’s best interest? World health authorities such as Karl Lauterbach, Federal Minister of Germany for Health, have publicly admitted that the rate of severe vaccine injury is 1 in 10,000 and the V-safe data in the US shows the rate of severe injury (requiring medical care) is actually 100X higher: 8 SEVERE INJURIES per 100 fully vaccinated people. So why is the UCSF medical staff forbidden to make an association??

    I’ve been told that the staff are told not to ask if the person was recently vaccinated with the COVID vaccine because that would suggest to the patient that the COVID vaccine might have caused their medical condition. Is this true? So the patient must offer it to the doctor because the doctor isn’t allowed to ask? How does that improve clinical outcomes?

    I’ve been told that 70% of the Radiology Department (in Marin specifically) requested and were granted religious exemptions after seeing what they saw in people who received the COVID vaccine. If it wasn’t 70%, what is the number?

    I’ve been told that the placentas of a majority of vaccinated women are not normal (calcified, blood clots, etc.). This started happening after the shots rolled out. Can you tell me what percentage was observed and why nobody at the hospital is speaking out to the press about this situation?

    Most troubling to me is that I was not able to find anyone who currently works at UCSF (including doctors, nurses, and lab techs) who would talk to me on the record for fear of being fired. Why would these doctors and nurses have such a fear? Can you guarantee that any staff member who speaks out about any of the points above will be protected and not be fired just for speaking out? Have you fired anyone for speaking the truth? Who?

    More https://stevekirsch.substack.com/p/ucsf-orders-their-doctors-to-ignore

  12. Cromagnon says:

    Next week expect several large 6-8 magnitude earthquakes to shake this orb. A massive coronal hole is rotating past earth facing trajectories.

    Human concerns are of little interest to truly great powers.

    • davidinamonthorayearoradecade says:

      6-ish earthquakes happen often, so this is not exactly an astounding prediction.

      nevertheless, duly noted that next week is March 26th to April 1st.

      hey, wait a minute, that week ends on April Foool’s Day.

      oh, you’ve been prannking us all along?

      ps: another chance for Gail to do an April Foool’s post. 😉

    • moss says:

      I’ve followed spaceweather.com for internet eons though only check it from time to time. It’s a good reference for auroras, comets, asteroid sort of things.
      Today’s cover pic I have seen nothing like it ever before.

      A LARGE HOLE IN THE SUN’S ATMOSPHERE: A large hole has opened in the sun’s atmosphere, and it is spewing a stream of solar wind toward Earth. NASA’s Solar Dynamics Observatory photographed the structure on March 20th.

      This is a “coronal hole” — a region in the sun’s atmosphere where magnetic fields open up and allow solar wind to escape. It looks dark in this ultraviolet image because glowing-hot gas normally contained there is missing.

      The solar wind will reach Earth on March 24, only a few days after the vernal equinox. This is perfect timing for aurora chasers. Because of the Russell-McPherron effect, even a slight gust of solar wind around the equinoxes can spark a good display of high-latitude auroras.

      looks like it’s pointing straight at us
      be a riot, wouldn’t it, if everything went blank 24th.
      Wouldn’t be able to say told ya so

  13. Fast Eddy says:

    More good/bad news (depends on if you are norm)

    Spike Protein Impairs Mitochondrial Function in Human Cardiomyocytes
    Mitochondrial Dysfunction and the Kynurenine Pathway


    We need to get some scare stories out there to increase the Booster Uptake

    Or maybe it doesn’t matter….already past the point of no return … or the theory failed

  14. CTG says:

    Good video to watch on fmthr next financial crisis

    • Thanks! I wish this video was in written form. I feel like I know 85% of what he is saying, but there are particular things related to activities in the most recent three years that I don’t know. Also, if I do want to refer back to something he says, numeric amounts for example, it is helpful to have them in written form, not something referred to on video. This FDIC link seems to give the earliest comprehensive summary of financial results for all FDIC-insured institutions.


      Also, this sheet:

      • Fast Eddy says:

        First few minutes the 2019 repo crisis is discussed… at the time it barely registered … certainly did not get the home page exposure that a crisis of this magnitude should…

        If it’s really really bad… it gets buried.

        Shall we assume the current crisis is just another controlled demolition that will be used to promote an agenda…

        Let’s not forget — there has to have been some good reason to have injected 6B with that Rat Juice… and it wasn’t to stop the spread of covid….

        We don’t hear much about Covid now … no real push on more boosters… if they felt he need to pour more Rat Juice into the MOREONS — it would be very simple — there are loads of MOREONS in the hospitals with VAIDS…

        As we know — a few photos of granny gasping for air on a ventilator cuz Covid … well that + some free donuts … would result in queues around the block for booster number whatever we are on now.

        norm asks about FE’s sources — FE has no specific sources… FE does not need to be told what to think by the PR Team… Fast Eddy has his antennae out — and that 1500HP beast in his head…

        Is busy deciphering …interpreting… piecing together … and THINKING… about what the truth might be…

        Even with 1500HP … getting at the truth is a challenge… the PR Team has a huge advantage… they cheat … they deceive … and it is impossible to verify much if anything…

        The situation is fluid…

        I can see why you like Huff norm — it makes things easy… no need to think… just let the PR Team do it for you – and regurgitate the rubbish … and pretend you are intelligent.

      • Fast Eddy says:

        That is an outstanding video – this is the crucial segment


      • Fast Eddy says:


        CBs have been and continue to raise rates — knowing full well that this drives bank asset values down causing widespread insolvency…

        He is unsure why they are doing this …

        Might I suggest…..

        Inflation is on fire — and they have no choice but to fight that fire with rate hikes..e.g. I just received another notice of a hike in the monthly fees for accounting software — that’s the second one in less than a year… so 20%ish higher… everything is on fire…

        Damned if you do damned if you don’t … perhaps they feel they can prolong the inevitable end result by applying mass bailouts… and that the alternative will lead to near immediate hyper inflation?

        Are they trying to squeeze out as many months as possible to buy time for the Bossche Mutation?

        Oh and did I mention — the flu vaccine is not rammed into 6 billion people during the height of flu season — because that would result in mutations and it would run the risk of creating an extremely deadly mutation of the flu? Ya – Bossche addresses that in the Highwire chat

        Dontcha hate when people refuse to watch or read something and lash out making fools of themselves…

      • postkey says:

        “But this time, notice that the Fed is not helping.
        40:33 The Fed is increasing rates, which as we saw is hurting asset values, and the same time
        40:40 the Fed is selling assets.
        40:45 And so it is withdrawing liquidity. So we are most certainly here in uncharted territory.
        40:51 The Fed is not helping the situation. So you can fully expect this line to keep going; the panic is going to continue.
        40:59 We are deep into uncharted territory. I’m not sure how this story ends. . . .
         The Fed is harming, it is hurting the banks. it is hurting the system.
        41:39 It’s making things worse now, whereas back here it at least tried to help. It cut rates.
        41:45 When it saw emergency borrowing, it cut rates. cut rates, it cut rates.
        41:50 And it increased asset purchases here, increased asset purchases here; added liquidity.
        41:56 It’s not doing that anymore. Okay? But what we are looking at here—this is the end of manufacturing really, for the most
        42:04 part here. . . .

        42:48 And we’re into uncharted territory, like I say. So to summarize all this, the banks are all bankrupt right now.
        42:57 Well, not all of them. But the system as a whole, the U.S. banking system right now, it is bankrupt.
        43:03 It is deeply bankrupt. The panic borrowing has begun. You saw that with the huge FHLB advances, and you see both of those things going on
        43:13 in the Quarterly Banking Profile. In other words, you see the bankruptcy of the entire banking system, and you see the
        43:20 panic borrowing going on right now. And rather than helping the situation, as I point out, rather than helping the system
        43:28 with rate cuts—it actually can’t cut rates anymore, at least when this started, because the rates are zero.
        43:34 But rather than leave the rates at zero, and just leave investment values where they are,
        43:40 the Fed is increasing rates. It is increasing rates, and like I say, it is selling assets, which has the effect of
        43:46 pulling liquidity from the system. “

        • Fast Eddy says:

          Is it a controlled demolition — or is it desperation….

          Lower rates = hyperinflation >> collapse (near term?)

          Higher rates = financial system collapse — perhaps they believe this delays the collapse….

          I cannot see how this leads to digitizing currency as a solution … how does that fix either problem?

          There are no good options. We need extermination asap.

          • Perhaps the powers that be think that they can save the group that they want to continue, with the digitized currencies. They leave out people who are unable to work, for example, and probably many others.

            • Fast Eddy says:

              I struggle to see how that would be workable… but one can imagine if one was aware of the truth and was a string puller… they might go a little bit insane… and grasp at ridiculous ‘solutions’… where there are none.

              Have the Elders collectively lost their minds?

            • Fast Eddy says:

              on March 21, 2023 at 10:02 am said:
              Actually, the issue that worries me isn’t banks as such – bad as the situation undoubtedly is – but broader financial liabilities, especially NBFIs (“shadow banks”). I’m putting together some numbers on all of this, for possible publication, but private broad liabilities seem to be close to $500tn, which compares with global private debt of about $155tn.

              If ALL the world’s central banks decided to create enough new money to double their assets, they could backstop barely 9% of global private liabilities.


              We are completely utterly f789ed.


            • Tim Morgan is starting to see more of what is happening. He is talking about complexity besides just his energy cost of energy metric, and he is seeing big problems near-term, instead of small changes later on.

  15. Jef Jelten says:

    I have a new start-up I am proposing.

    Every region builds large anaerobic digesters right next to their electrical generation facilities and mandate that all dead bodies end up there. People can have any service they want but eventually the body goes into the digester making methane gas to power the electrictricity generators. People can even volunteer for service.

    Donate your body to the grid!

  16. Fast Eddy says:

    And now for some good news for the unvaxxed hahaha

    The Spike Protein, Rapid Aging and ROS: Finding the Etiology for COVID, Long COVID and Post-COVID Conditions

    mRNA PROMOTES AS MUCH ROS AS INFECTION: ROS and Cancer, Neurodegeneration, COPD, Diabetes, CVD and Arthritis


  17. Fast Eddy says:

    COVID Vaccine Fatality Rates in Europe are Between 0.05% and 0.55%

  18. Fast Eddy says:

    Tesla & Bitcoin are perfect bedfellows – one’s an overhyped, risky investment likely to end in tears, and the other… is the same


  19. Fast Eddy says:

    So according to Mr. Dowd’s calculation, if 3.2 million more Americans have become disabled in 2021 and 2022, that means about 800,000 Americans have died due to the COVID injections.

  20. Fast Eddy says:

    Edward Dowd Presents Irrefutable Evidence Vaccine Mandates Killed & Disabled Countless Americans

    “Unless we have a new virus that knows you’re working, there’s no explanation for it.”


  21. I thought this was interesting:


    Saudi King Invites Iranian President To Visit For 1st Time In 25 Years

    After striking their historic peace deal which was mediated by China in Beijing over a week ago, Iran and Saudi Arabia continue to make strikes toward full normalization of ties, after being archenemies for decades – and before that their peoples having been rivals for centuries when it comes to the religious Shia-Sunni divide.

    An Iranian official has announced Sunday that the King of Saudi Arabia has issued a formal invitation to Iranian President Ebrahim Raisi to visit Riyadh in an unprecedented move. Raisi is said to have “welcomed” the invite from King Salman. Now what remains is setting a date.

    Perhaps the Middle East will get together with China and Russia, on the opposite side from the US and EU.

    • Student says:

      It is just my impression, but, in addition to the overall situation, I think that Middle East Countries realized that they have been teased or not correctly informed by the West on the way to manage Covid, on vaccinations and on forbidden medical treatments, as most Countries initially followed our indications.
      Probably that issue has completely ruined that relationship of trust.

      • That is a good point. Even if people in the US haven’t figured out that they have been misled with respect to Covid vaccines, people around the world have figured out that they have been lied to. This destroys trust.

        • Lastcall says:

          ‘This current environment is the biggest information asymmetry of my career and unfortunately our institutions have been captured.’

          The sheople will still line p and take what they are given!

      • Adonis says:

        they are all working togetherto implement plan b World War 3 if you’re in the Army vaccines will be given to you so vaccination can continue everything is being done for a reason there are no sides just the purpose depopulate.

  22. jigisup says:

    Are Janet and Jerome professional pretenders?

    Raising interest rates can only effect demand. The inflation is a result of currency dilution. This is the herd of elephants in the room that the pretenders pretend not to see. Part of the pretending is that the Fed is separate from government when it suits and not when it doesn’t. The fed implicitly is responsible for government bond sales (currency dilution)but the amount the government spends (dilution) is not the feds jurisdiction. The fed is responsible for inflation control but has no say over how much currency is created in regard to government deficits. The fed has two tools money creation and interest rates.

    Its hard to build a house with just two hammers.

    How did we get here? Is it just greed?

    The new BRICS plan is not that different from the old soviet system of arbitrarily determining currency rates. It has limitations. The reality is that a reserve currency created by fiat allows international trade based on the needs of international trade. Currencies tied to real things just cant provide enough. Gold was pretty good because it has limited real world uses. You wouldn’t want to use oil and have its value raise to a thousand a barrel as a currency peg.

    Russia and China have been quite happy to let the USA hold the reserve currency curse. The reserve currency having demand as a settlement currency destroys the countries production as it has more value than with countries having demand based on resources and productivity. China and Russia were quite happy to let the USA give up all its technology and production leaving them free to develop and retain ownership of their production and resources with competitive currencies thus ensuring security.

    Putin really didnt want to give up letting the USA hold the bag but security concerns meant he had to. Russia and China realize quite well the limitations of the BRICS currency system they are advocating. They were quite content to continue their own development and have the USA outsource everything.

    The role the USA masters demanded as reserve currency providers had flaws that manifested out of the productivity destruction . Military was not cost effective any more than any other service or productivity paid for with the federal reserve notes. This along with global military aspirations created the recipe for the deficit insanity we see. It took much more of the reserve currency than non reserve currencies to create equivilent military technology and structure. Thus the sneering at russia with such nonsense as “GDP less than Texas”. HMMM. Just why is that GDP less than Texas 40 years ahead in missile development. Boy will we be surprised when the dragon reveals its secret programs. I wonder if we would not have been better just outsourcing the technology purchases like everything else buying the best available in the “cheap” currencies. Missiles from Russia. Drone swarms from China. The MIC had other Ideas.

    The Ukraine attempt at franchising the geographical area via Ukraine is a blunder of the greatest proportions forcing all parties to abandon the dollar as a settlement mechanism. The inherent hazard of a national currency expanded as needed for international trade had not materialized prior to Ukraine. Had the USA realized its reserve currency status was a matter of convenience and agreement not an entitlement it could have continued its banker role for a long time- until resource deletion. It would have required a acknowledgment of its fundamental role as a banker like the Swiss were at one time in history. Reasonable government spending and limitation of military safaris. Continuation of the reserve currency status not by force but by value and lack of alternative. This would have meant actually competing with alternatives that were proposed as in Libya and Iraq not eliminating them but these countries probably wold have never tried to create alternatives had the USA assumed a neutral banker role looking after its own physical security and depending on value of its franchise for financial security.

    What does the future hold? The dollar as a reserve currency is toast via a variety of factors as described our penchant for military adventurism chief among them. Yuan as a reserve currency. How can the curse be negated? By ruthless enforcement. MPP has been dependent on abundant resources. Military enforcement is no longer possible as it takes too much resources something else must be instituted that uses the power of technology not wasteful resource consumption. I wonder what that will be?

    Yes Jerome and Janet are pretenders. The real story is more complex

    • Many thanks for all of your insights. I had realized this:

      “The reality is that a reserve currency created by fiat allows international trade based on the needs of international trade. Currencies tied to real things just cant provide enough.”

      But I hadn’t focused on this:

      ” The reserve currency having demand as a settlement currency destroys the countries production as it has more value than with countries having demand based on resources and productivity. China and Russia were quite happy to let the USA give up all its technology and production leaving them free to develop and retain ownership of their production and resources with competitive currencies thus ensuring security.”

      I certainly agree with this:
      “Military was not cost effective any more than any other service or productivity paid for with the federal reserve notes.”

      Really, all kinds of complexity is what the US has specialized in, but this cannot last.

      • Mirror on the wall says:

        It seems intuitive that the focus on complexity rather than fundamentals has set up the USA for a mighty fall.

        If complexity dissolves as energy dissipation declines, then it is bye bye to economies that focus on complexity?

        Complexity presupposes a high level of general development, so it is the first to go?

        Perhaps other factors are also in play?

        • It could very well be that a concentration on complexity has set up the US for a might fall. It seems like the UK wouldn’t be far behind, though. The UK has gotten into a lot of financial services. At one time, it had the reserve currency.

    • All is Dust says:

      Excellent insights, thank you!

  23. tagio says:

    FE posted, “STUNNING: Janet Yellen Admits Smaller Regional Midwest Banks Will Not Be Bailed Out – Only Big Banks Deemed Worthy by Biden Regime (VIDEO)”

    The Treasury and Fed seem to be doing their best to stampede deposits out of regional and small banks into the large banks, SIFIs, probably for bank consolidation and greater control over the sector. The joke will be on the fleeing depositors, though, because my understanding is that under Dodd-Frank, in a failure of a SIFI, the depositors are bailed in, i.e., their deposits are exchanged for shares of stock in the failed bank. Apparently it applies only to amounts in excess of the $250,000 FDIC insured amount.

    How anyone with more than $250K in an account can be leaving it there is beyond me.

    • reante says:

      That all makes sense. Under NS, anybody with more than a quarter-Mil in the bank is by definition gambling in the financial world above that highwater mark. Below that mark the government has your back as promised, although there will be cash-based complications such as capital controls so that there’s no run on the system. Hence the FEDNOW-Treasurydirect digital public banking system being rolled out for liquidity and velocity purposes.

      Liquidating and nationalizing the banking system from the bottom -up is obviously the only way that it can be done.

    • Fast Eddy says:

      There is no deposit insurance in NZ…. but that doesnt matter — it only works if a handful of banks tip over…

      If all of them blow up — it’s ROF.

      It’s a fun week – every morning wondering if ROF is gonna start!

      I vote to keep the comments open after the 25th. We are in a GFC type moment except that the CBs are between a rock and hard place now…

      54>> 260… is that pushing on a string time?

      • AAdonis says:

        the Elder’s have a plan if I am correct the fed will raise interest rates remember you will own nothing and you will be happy

      • moss says:

        I’d assume the banking systems of fractional reserve commercial banks anywhere with financialised rentier economies, like of all of ours, will not be too big to bail out all depositors
        We can’t assume the exchange rate will remain steady, unless the CBs manage to control the race to the bottom they seem to enjoy so much.

  24. Yoshua says:


    Switzerland’s bailout package to save Credit Suisse is now $260B. At this rate of growth it will be $1T by the weekend. They have a black hole on their balance sheet?

    • Bam_Man says:


    • This sounds pretty awful!

      • Fast Eddy says:

        Sounds like string pushing! Next a trillion – then 50 trillion … then Doosh Bank and others join the part and its whatever comes after a 1000 trillion!

    • Fast Eddy says:

      What the hell? It went from 54B to that…

      Do you think if we fed first born children into the banking black hole… that would appease the demon?

      • Lastcall says:

        Twas Climate Change that di that.

        All the dorks in the media in NZ are desperately blaming everything than can on poor old CO2.
        Losers one and all.
        So why not Credit Swiss-Cheese problems?

        • Fast Eddy says:

          As I heave one of those orange Mitre 10 buckets of coal into the fire….(20 litres?) and remark to Hoolio … I love the smell of coal smoke in the morning … smells like … victory

  25. Herbie Ficklestein. says:

    Eddie…we are headed to the next galaxy….

    new space laser propulsion concept


    Today’s chemical rockets are simply not fast enough to take us far beyond our solar system within any reasonable timeframe. That’s why Davoyan proposed a new concept to propel spacecraft using pellet-beam propulsion.

    The new concept was partly inspired by Breakthrough Starshot, a $100 million initiative announced by Russian-born philanthropist Yuri Milner in 2016. Breakthrough Starshot proposed using millions of lasers trained on a tiny probe with a light sail to send it to our nearest star, Proxima Centauri, in as little as 20 years.

    For Dayovan’s pellet-beam propulsion concept, he and his team proposed using two spacecraft. One would set off towards interstellar space, while the other would go into orbit around Earth. From there, the orbital spacecraft would fire thousands of tiny metallic pellets at the interstellar spacecraft every second. It would also either fire a 10-megawatt laser beam at the interstellar probe or align a laser fired from the ground toward the interstellar craft.

    That laser would hit the pellets and heat them to the point that a layer is removed and become plasma. That plasma accelerates the pellet remnants, and the pellet beam provides thrust that propels the spacecraft at enormous speeds.

    Dayovan believes the pellet-beam propulsion system could propel a 1-ton probe at speeds of up to roughly 480,000 kilometers per hour (300,000 miles per hour), meaning it would be 10 times faster than chemical propulsion systems for traditional rockets. It would also be fast enough to overtake Voyager 1 — the farthest human-made spacecraft from Earth — in only five years.

    Thanks to NASA’s NIAC program, Dayovan, and his team now have $175,000 in funding to demonstrate the concept’s feasibility. Much like with Breakthrough Starshot, the new concept relies on significant advances in laser design, meaning it will be some time before we see a pellet-beam propulsion system take to the skies

    Backed by NASA….it must be true

    • This sounds like a story to distract the masses.

    • Dennis L. says:

      Okay, research is great, but.

      Mine our solar system. The next real, big challenge for humanity is Starcraft. If it doesn’t work adaptation is going to be interesting to say the least.

      Dennis L.

      • Cromagnon says:

        The next big step should be making a deal with homo anunna to mine Antarctica. Outer space is what is between most civilized humans ears.
        I mean seriously,….. Antarctica is RIGHT THERE! It is wildly more habitable than even near earth orbit.
        But oh no,…. We gonna launch rockets into “ space”

        Ya’ll need to wake up!

      • whether mining on earth, or an asteroid, the same rules apply

        whatever you extract from a mine, has to be turned into a saleable product–if it cant, then whatever is down the mine might as well stay there.

        the means to buy any product requires money, (wages)

        wages can only be created where one energy form is turned into another.

        If there’s insufficient energy on earth to do that, then wages, and thus a commercial economic system, cannot exist—so nothing will get bought or sold in the sense that we know it.

        We cannot, as I see it, expend energy on an asteriod xx bn miles away, and expect that to transpose into wages here on earth.

        earth-wages depend on several billion of us, here, passing token hand to hand in exchange for work done.

        a few hundred asteroid miners could not create the same system of commerce.
        Energy ”out there” would cost too much in earth terms to get hold of, let alone use.

        • Dennis L. says:

          Robots, make plants in space, bootstrap as was the industrial economy. Wages in a totally AI economy are an interesting issue, not my issue, gives others a chance to solve problems.

          I don’t see another way out, this site has convinced me current ideas won’t work.

          Have seen a video of robots apparently being used in Tesla factories, at night or without obvious people around doing simple repetitive tasks humans traditionally do. These appear to be Optimus robots. They will do fine in space with a bit of engineering. The jest of the video was Tesla is further along with these robots than is widely known.

          No matter what, Tesla is killing it in the car market; even Toyota has recognize Tesla cars as a marvel of engineering brilliance. They don’t seem to be afraid of mistakes, admit them and fix them. This AI stuff is powerful.

          Dennis L.

          • rather like the sorcerers apprentice—robots are intended to produce ‘stuff’ indefintely provided they are supplied with sufficient raw materials, somehow ‘magicked’ out nowhere (ie space).

            Note the word ‘produce’—it is important.

            They are not designed to ‘consume’ stuff—only humankind can consume stuff.

            If we dont consume stuff as fast as robots can produce it, then robots themselves are a waste of energy input—as with the sorcerers apprentice—activity would result in ‘stuff’ just piling up, without purpose.

            so if we mine asteroids, (stretching the imagination a bit).

            We cannot consume a coffee maker or washing machine every month.—but extracting ‘materials’ from space would suggest that, because our BAU business model suggests that we do precisely that,—ie ‘grow’ forever.

            we’ve run out of ‘earth materials. so it will all be ok if we go get stuff from somewhere else.

            we do that as the junkyards of the world pile ever higher, in strict adherence to the laws of thermodynamics.

            this is the endgame of ‘space mining’ or whatever you might call it.

            • Adonis says:

              that is why a lower population would be optimal in the new world order consumption would be lowered

    • ivanislav says:

      >> Dayovan, and his team now have $175,000 in funding

      What the heck can you do with that? A half-way decent engineer costs that much in annual salary and benefits. Nevermind a workshop, materials, or fabrication.

    • Rodster says:

      We’ve things up so badly on this planet, we now have to find other planets to do the same. Humans never learn.

  26. Dennis L. says:

    Europe and demographics.


    France is unhappy with retirement age increase; well, they are French, c’est la vie.

    The main challenge with working into one’s later years is the aging of the body, it is not subject to policy proclamations. Office work is hard work, no exercise, wear and tear which does not show but is as real as physical wear from labor.

    As we age our productive hours decline, we need more rest, more repair.

    Kids are not happy carrying the elderly, in US apparently can’t whip them hard enough, they are just letting things slide, bummer for us retirees.

    Thought on lack of marriage: even if a man does not marry, he is part of the group, he shares the load. A married man supporting a family is a very busy man, a bit of help is always welcome.

    Dennis L.

  27. Herbie Ficklestein. says:

    So. Chevron is promoting it’s new push to make Diesel out of plants…thought their commercial was a joke…but eventually not at all…BAU Baby with UEP there will be a whole lot less mouths to feed, we have to do something with the crops we grow now!

    Corteva’s New Collaboration with Chevron and Bunge Could Turn Canola into a Cash Crop for Farmers

    By TYNE MORGAN March 16, 2023
    A new partnership between Corteva, Bunge and Chevron could turn canola into a valuable cover crop in the southern U.S. The goal is to increase the availability of vegetable oil to fuel the domestic renewable diesel market while also creating a new revenue stream for farmers.

    The commercial collaboration will create proprietary winter canola hybrids that produce the valuable oil, while also featuring a lower carbon profile. The companies intend to introduce the winter crop hybrids in the southern U.S. as a double-cropping option for farmers to plant after soybeans or cotton is harvested from their fields.
    “We’re pleased to work with Bunge and Chevron to bring a new option in the southern U.S. that will deliver solutions for farmers to increase productivity and sustainability on their acres, as well as contribute to the need for renewable and less carbon-intensive fuel options,” said Chuck Magro, CEO, Corteva Agriscience in the announcement.

    “Rotational cover crops play a key role in our strategy to continue to develop next generation lower carbon feedstocks,” added said Greg Heckman, Bunge CEO. “As a leader in oilseed processing, we are pleased to work together with Corteva and Chevron to bring this crop innovation to farmers and process it into sustainable solutions for consumers. This is another step in our commitment to creating clear paths to support the decarbonization of the industry,”
    Peter Meyer, grain and oilseeds economist with S&P Global Commodity Insights, says until recently, not a lot of people expected “Big Oil” to join forces with “Big Ag,” but the latest announcement from Corteva is further proof that these types of partnerships will continue to gain steam as the demand for renewable diesel grows.

    Renewable Diesel….see there is such a thing as doing the impossible….
    Oh, forgot to get how much they will charge for the diesel?

    • “How much agricultural land is lost as a result?” is an even more important question.

    • Dennis L. says:

      Bio diesel does not age well.

      MN has approved 1500 acres of prime ag land to be covered with solar panels, it is renewable after all.

      Dennis L.

      • Cromagnon says:

        I would shorten the energy supply chain.

        All agricultural land (all of it) should return to prairie, pampas, veldt, steppe……

        Let critters eat the growth.

        Ride the critters

        It WILL happen

    • halfvard says:

      It’s a lot more accurate when you call “Canola” the name they use for it in Europe…. “rape”?

    • Art Lepic says:

      Diesel engines can run on coconut oil, as shown by the Papuan “Coconut revolution”, but at what EROEI, it is not clear. Picking the coconuts can be done efficiently by trained macaques, but processing it into oil is labor and energy-intensive. Land surface for coconut farming is limited since they grow best on sandy soil with plenty of freshwater at 3-5m depth, typically on tropical coasts next to mountains with water flowing downhill.

      Yet, like Papuans at some point, the ones with plenty of coconuts and some pick-up trucks around, in isolated tropical places, might make make it much better at some point. They also got pretty good at making DIY metal spare parts for trucks and guns.

  28. Dennis L. says:

    Ignoring the “stuff” shortage, part of the problem is in the education area.


    Getting into engineering school used to require two years of math, physics and chemistry plus an English course. At one time there was English for engineers, not much poetry I expect. STEM is tough, 1+1=2 not matter what, binary, pass/fail.

    So Praeto, 20% of the people do 80% of the work/results, etc.

    With TV no male without hair could be elected, hats did have a purpose; it is all Bernays and it works until reality comes along and gently or not so gently says, “ahem.”

    Dennis L.

    • Fast Eddy says:

      Word of the day: Metastasize … Fast Eddy is hoping the situation involving CS will metastasize and lead to ROF

    • I like this analysis of the situation:

      “Subsuming CS into UBS raises the risk that instead of healing any sickness, the deal could transfer it to a larger host.”

  29. Herbie Ficklestein says:

    Where Humans go, Trash follows…

    More lunar missions means more space junk around the moon. Two scientists are building a catalog to track the trash.
    By Vishnu Reddy published 7 days ago
    Scientists and government agencies have been worried about the space junk surrounding Earth for decades. But humanity’s starry ambitions are farther reaching than the space just around Earth.
    This article was originally published at The Conversation.(opens in new tab) The publication contributed the article to Space.com’s Expert Voices: Op-Ed & Insights.

    Vishnu Reddy(opens in new tab) is a Professor of Planetary Sciences at the Lunar and Planetary Laboratory and the Director of Space Safety, Security and Sustainability Center (Space 4 Center) at the University of Arizona.

    Scientists and government agencies have been worried about the space junk surrounding Earth for decades. But humanity’s starry ambitions are farther reaching than the space just around Earth. Ever since the 1960s with the launch of the Apollo program and the emergence of the space race between the U.S. and Soviet Union, people have been leaving trash around the moon, too.

    Today, experts estimate that there are a few dozen pieces of space junk like spent rocket bodies, defunct satellites and mission-related debris orbiting in cislunar space – the space between Earth and the moon and the area around the moon. While this isn’t yet a large amount of junk, astronomers have very little information about where these pieces of space debris are, let alone what they are and how they got there.
    Abandoned and potentially dangerous
    Historically, NASA and the U.S. military have not closely tracked space debris from the many dozens of crewed and robotic missions to the moon(opens in new tab). There is no international agency that has monitored lunar objects, either. This lack of oversight is why scientists don’t know the location or orbit of the vast majority of lunar space debris. And these objects won’t simply go away – in the near total vacuum of space, anything left in orbit around the moon or in cislunar space will likely remain there for at least decades.

    This lack of information about human-made objects orbiting the moon poses many risks for lunar missions.

    So there you are Eddie..if we weren’t there there would be no junkyards there, Bro!

    • Dennis L. says:

      While not in favor of junk in earth orbit, junk/pollution on the moon, mars, jupiter, etc., sounds like a good place to me. Jupiter is supposedly the solar system’s junk collector so it has had experience.

      Starship is the only timely chance we have, we need manufactured stuff, no pollution.

      Dennis L.

  30. Professor James Lovelock, writing in 2008, that 20 years ahead (2028) would be SHTF time

    Close enough to be on cue for the mid 2020s I’d say.


    • The climate is always changing. We have built our economy as if it never changes. The result is a certain collision.

      • Herbie Ficklestein. says:

        Nate Hagen interviews Dr Peter Ward

      • Dennis L. says:

        Thanks in part to you I am modifying the land usage on my farm. Climate change is for real, change in my case will be incremental as the future is always hard to predict, regulations will change, carbon capture will become real. D’Nile is real, even for those who are realists.

        Current pipedream, DIY RTK, it is out there, can mow fields robotically, avoid the heavy cost of major farm equipment manufactures, this is not precision planting. Diesel is becoming a major cost, perhaps solar powered tractor(consider fork lift batteries in a change pack, engineering already done). Corny, make hay while the sun shines I guess.

        Adaptation is the name of the game; it is not fun, it takes time. Someone here mentions will to power about which I know nothing. I do know something about will, it is not psychologically easy, gets tougher as one ages, it is the energy thing. Demographics, always demographics.

        Dennis L.

      • drb753 says:

        But, let us face it: the bullshit part of this corrupt academician is that we will suffer due to global warming. In fact, in Europe global warming is mitigating the catastrophic effects of resource depletion. It is complete nonsense, and no one but Norman believes that. These guys can be purchased with research grants, a dime a dozen.

        • ivanislav says:

          Ditto Ukraine. The ground never froze this winter, making any Russian offensive difficult. That’s one of the possible reasons they didn’t make a move.

      • a piece on uk radio today was asserting that lack of resistance to bacterial infection will cut our numbers faster than cc will

        • Herbie Ficklestein. says:

          Not to worry…the cellular Phizer engineers will formulate a Cocktail concoction that will prevent transmission of this infection only if one wears a mask and maintains 6 feet distance from any other human…
          The CDC and FDA and WHO will stamp approval.

      • ive tried to make this point before

        ice age to ice age peak is about 100 000 years

        we are living in the period ‘in between’

        —ie 15k years since the end of the last ice age—15k years to the start of the next one—far too long a time stretch to be grasped by human experiences—about 30/40 k years in total of benign climate.

        in the last 200 years, we have nudged our climate out of sync with that time-stretch

        the world right now, is resisting our effrts to screw things up and overheat the the place,—that is not ‘normal climate change, it is our death sentence—self condemned of course

        • Mirror on the wall says:

          The Holocene is an unusually warm interstadial anyway, which is likely what made the Neolithic and civilisation possible, so you cannot really compare this interstadial with previous. The glacial-inter-glacial cycles vary anyway. The climate is always changing and it usually does it pretty abruptly.

          Humans are a part of the natural system, so it cannot be said that we have ‘nudged’ the system as if we stand outside of it. Far ‘humbler’ organisms than us have totally and indeed permanently changed the climate and the principles, let alone the course, of evolution, ie. plankton completely altered the way that carbon moves around the planet, stabilised the acidity of the oceans and allowed for the introduction of the ‘red queen’ principle. The impact of humans will not even come close to that.

          There is no ‘way’ that the climate is ‘supposed’ to be without the influence of any particular species.

          It is all ‘good’.

        • Curt says:

          Here, Norm:


          there’s a graph in there of an estimate of prehistoric global mean temperature from ~500 Mio yrs to now.

          As far as we take this graph as a good approximation, you can see that the inception of our written history was marked by a global temperature minimum only reached before in a time *before* dinosaurs roamed the earth – and in between that time, most of the time
          the earth was far far hotter than now, without polar ice caps.

          You can also see that the beginning of blooming plants and the predominance of mammals was marked by a steady cooling of earths mean temperature.

          There art many environmental problems that will cause genetic bottlenecks in the future, but a warming climate really is what I am least worried about.

          Well in fact, I am not worried that life or human life will vanish any time soon, whether or not something out of my life’s timeframe is even worth worrying.

          What I am actuely worried about, at least in some way, is the steep, steep slope the EU has to become a much lower energy use continent, and soon.

          Although I must admit, a certain schadenfreud on my behalf is not off – after all I have hated the decadence and environmental destruction, and now increasing hypocricy of my culture since childhood.

          It’s a good consolation to at least see die what I hate, if I have to go with it.

          (though being cynical at large is not my goal, but I am only human)

          • my comment was just about relatively recent glacial and interglacial periods—ie the time segment that allowed us to flourish for a few thousand years—until we blew it.

            after were are disposed of, the earth will go on doing its thing for another few billion years.

            no doubt other critters will appear, probably not as destructive as us because they will not have the means to do it on a large scale

            • I wouldn’t count on it. There is a strong trend, throughout the universe, toward increased complexity. To date, humans and our economies (including cities) ave been the most complex to date. This complexity comes through dissipative structures of some type, including mutations from plants and animals currently alive. Eventually, any energy that can be dissipated, will be dissipated. Today’s humans probably will be leaving behind huge deposits of fossil fuels that we cannot economically extract. Some, more clever group may very well extract them. Having climate change, and perhaps changes in ocean currents, and even land mass versus oceans, may facilitate this change.

              Eric Chaisson has written about this issue in his 2001 book, The Cosmic Evolution: The Rise of Complexity in Nature.

              This is one of his images:


            • Agreeed—there is a trend towards complexity over time

              The dinosuars evolved complex brains and bodies, and were the biggest critters around for 200m years or so—but they had no effect on the structure of the planet itself.
              Every species carries its own level of complexity—no doubt about that.

              that was the point i was making

              humankind appears, 2 m years ago—is the first critter to control fire, and usesthat skill to screw up the planet. Our brain-complexity gave us the chance of striking one rock against another, and doing something with the ensuing sparks.

              but we could only use that firemaking talent so long as combustible materials were cheaply available in surplus.
              Trees were ultimately not enough.

              if we vanished tomorrow, the earth would need another 200 million years at the very least to restore its surplus carbon reserves to provide sufficient combustible material kick the whole process off again.

              Looked at from a long perspective, the recent history of humankind has been, in effect, that we have burned off 200m years of fossilised sunshine in a single 200 year flash of heat and light.

              Now we go back into the darkness whence we came.

            • Curt says:

              Ah yes understood.

              I cautiously doubt that burning through all fossilized carbon and all the associated environmental disasters (radioactive waste being the most dire I wager) will really kill off humanity entirely.

              Although I admit that, solely with respect to radioactive waste, there’s an environmental problem we haven’t seen yet in its full force – after all, chernobyl is currently contained with a concrete “sacrophagus” – only a few days or so was the full effect to be seen, and killed off a whole forest in the vicinity, and all cats in the city around…

              but still, good question whether that would exterminate all higher life forms including humans in full effect.

              A nuclear war including hydrogen bombs might. As far as I know, they were never tested.

              I also agree with you about the question of rising complexity in this universe – nothing grows forever in this finite reality, so a climax and then fall in technological, material complexity isn’t far off to think about.

              As far as I know, there are hard limits to brains too – the elephant has a bigger brain than us, but a good part of that size is needed to enhance electric conduct of the nerves, so a brain bigger than ours does NOT allow for more capacity due to – the limits of physics.

              Another 200 Million years to restore fossil carbon, yes…and Earth will disintegrate in ~ 3 billion as far as I know.

            • Fast Eddy says:

              Chernobyl did not involve the far more dangerous spent fuel ponds

    • Agamemnon says:

      What’s staggering to me is not when I believed them but when I realized the exact opposite is happening. 2028 will be the ending of the current short sun cycle when the grand solar minimum starts in force.

      It’d be a wonderful to have Santa coal then.

    • Jon F says:

      He passed away some months back…aged 101…

      • i was lucky enough to attend one of his lectures when he was about 97

        • Herbie Ficklestein. says:

          We’re doomed,” says Mayer Hillman with such a beaming smile that it takes a moment for the words to sink in. “The outcome is death, and it’s the end of most life on the planet because we’re so dependent on the burning of fossil fuels. There are no means of reversing the process which is melting the polar ice caps. And very few appear to be prepared to say so.”

          Hillman, an 86-year-old social scientist and senior fellow emeritus of the Policy Studies Institute, does say so. His bleak forecast of the consequence of runaway climate change, he says without fanfare, is his “last will and testament”. His last intervention in public life. “I’m not going to write anymore because there’s nothing more that can be said,” he says when I first hear him speak to a stunned audience at the University of East Anglia late last year.

          The 86-year-old social scientist says accepting the impending end of most life on Earth might be the very thing needed to help us prolong it


          Another old timer that has seen the hand writing on the wall

    • ivanislav says:

      “The Revenge of Gaia, predicts that by 2020 extreme weather will be the norm, causing global devastation; that by 2040 much of Europe will be Saharan; and parts of London will be underwater”


    • Tim Groves says:

      Norman, you are seriously behind the times, old son.

      Professor James Lovelock, speaking in 2012:

      “I made a mistake.

      “The problem is we don’t know what the climate is doing. We thought we knew 20 years ago. That led to some alarmist books – mine included – because it looked clear cut, but it hasn’t happened.

      “The climate is doing its usual tricks. There’s nothing much really happening yet. We were supposed to be halfway toward a frying world.

      “[The temperature] has stayed almost constant, whereas it should have been rising – carbon dioxide is rising, no question about that.”

      It’s shocking, I know, but that was what Lovelock actually said,


      • reante says:

        Anthropogenic climate change theory has/had to undergo a maturation process just like peak oil theory and any other systems theory. Systems theories take time.

        Your Lovelock crisis of confidence is also behind the times, Tim. The widespread realization of the extent to which the ocean has become a heat sink is only about a decade old. And the sun was in a cooler cycle in the 2000s compared to the 90s. And there has been increasing particulate matter on average from volcanoes and also industrial emissions, increasing global dimming.

        My WAG is that all else being equal (which it won’t be) the loss of global dimming from industrial collapse will offset any solar minimum coming our way.

        • Fast Eddy says:

          Want the Great Barrier Reef meant to be gone by now?

          And Geeta said by 2023….

          And Al said the coastal cities….

          Fear Fear Fear…

          My theory is that the excess heat simply dissipates into space… why wouldn’t it?

          Take a blanket and wrap it around a heated stone… put it in an unheated room in a shack in the Arctic during winter… report back in 20 minutes…

          The temperature in outer space is generally 2.73 Kelvin (-270.42 Celsius, -454.75 Fahrenheit). This is actually the temperature of Cosmic Microwave Background Radiation, which is spread throughout the universe.

        • Tim Groves says:

          Perhaps I am behind the times, but I was merely pointing out that James Lovelock’s prophesy of climate-doom that Norman was promoting was later debunked, cancelled, negated, or argued against by none-other than James Lovelock himself. Lovelock was a real scientist and a fairly honest one by all accounts. By 2012, he could no longer go along with the doom-mongering that was not supported by the scientific data.

          I haven’t been keeping up with the Climatewars recently, and I don’t want to get into mind-numbing detail about how the system works. There have been a lot of huge confident claims over the past half century that simply haven’t panned out. And actual meteorological records from places like Hachijojima (an island well out in the Pacific that is part of Tokyo Prefecture) show that the island has seen no warming trend in September since 1915.


          Now, that is accurate. That is a statistical fact. If globbly wobbly was a falsifiable scientific hypothesis, that one inconvenient fact should have falsified it.

          But globbly wobbly is not falsifiable. It’s a political doctrine and a religious belief system. And I don’t want to knock anyone’s religion, Reante. That would be intolerant as well as impious of me.

          But my understanding, crude though it may be, is the oceans have always been planet Earth’s principle reservoir for absorbing solar radiation and storing the climate system’s heat engine. They are also a temperature moderator that keeps the atmosphere and the land from becoming too hot or too cold.

          Heat flows from the sun to the oceans via insolation (incoming solar radiation), from the ocean to the atmosphere mainly via evaporation and conduction, from the lower atmosphere to the upper atmosphere mainly via convection, and from the atmosphere into the virtually infinite heat sink of outer space via. radiation. (I’ve left out the role of land in the interest of keeping things very simple.)

          The point is that the flow is from ocean to atmosphere, NOT from atmosphere to ocean. About 2/3rds of the earth’s surface is oceans, and about 2/3rds of all the insolation—the energy source that prevents this planet and every other planet in the solar system from being colder than Pluto—is absorbed by the oceans.

          The other 1/3rd is absorbed by land, but land radiates its stored heat away much faster than ocean does—a desert can go from 50 degrees centigrade at three in the afternoon to below zero at six in the morning—despite the presence of 415 ppm of See Oh Two in the air.

          So the oceans trap insolation and store it as thermal energy—heat, while the atmosphere and the land don’t. And as a result, the oceans drive the ocean/atmospheric heat engine that powers the earth’s climate/weather system.

          Is that clear? Or cloudy? Or are you still deep in the fog?

        • Tim Groves says:

          Excess heat in the atmosphere would be used to evaporate water or otherwise convected and eventually radiated into space. There is no mechanism for it to be pumped into the oceans. And even if it was being pumped into the oceans, which it isn’t, it would be impossible to detect it by accurately measuring the resulting change in ocean temperature. Anyone who say we can do this is wrong.

          The oceans also comprise a huge amount of thermal mass. Nodalodapeople know this, but one kilogram of water can retain 4.18 times as much the heat as one kilogram of of air. And since water is much denser than air, this gives water a thermal mass which is nearly 3,558 times that of air per unit volume.

          That is, one liter of water can hold roughly as much heat as 3,558 liters of air.

          As William DiPuccio observed:

          For any given area on the ocean’s surface, the upper 2.6m of water has the same heat capacity as the entire atmosphere above it! Considering the enormous depth and global surface area of the ocean (70.5%), it is apparent that its heat capacity is greater than the atmosphere by many orders of magnitude. Consequently, as Hansen, et. al. have concluded, the ocean must be regarded as the main reservoir of atmospheric heat and the primary driver of climate fluctuations.

          Please read the whole article. It may clear away some cobwebs. Or it may not:


          James Hansen, by the way, before becoming one of the leading proponents of the climatecatastrophe scam, was one of the leading proponents of the menwalkedonthemoon scam. Different narrative but same flim-flam, and same employer too.

      • Dennis L. says:

        On my farm weather did change, too much rain. CA is having extreme swings from drought to floods.

        Lovelock was wrong the first time, probably wrong this time.

        The fabric of the universe is progressing as it wishes, we are along for the ride.

        I have made my last calls, I hate change, I shall adapt.

        Dennis L.

      • thanks for that tim

        i hadnt seen it.

        but wouldnt you say he was right the first time—based on what is happening right now?

        • Tim Groves says:

          That’s gracious of you, Norman. Thank YOU!

          But, no I wouldn’t say that Lovelock was right the first time. In that 2008 interview, on nuclear power solving our energy problem, I’d say he was partly right, but on the climate getting more and more extreme, I’d say he was wrong the first time and right the second time in 2012.

          My take is that the mass media is programming the public to believe that the climate is getting more and more extreme. And before that the mass media programmed the public to believe the mass media. So the problem is that the public is hypnotized to believe anything the mass media tells them to believe.

          It is the same in most places, certainly in the UK, Europe and in Japan. Zombified masses everywhere. Incapable of even refusing to be poisoned with the Covid Jabs. In the US, the hypnosis is patchier. The programming there became so ridiculous that a lot of Americans—although not a majority—have woken up in the last few years.

          I live in the north of Kyoto. Every year for the past 30 years I have planted my potatoes in the last week of March and harvested them in the last week of June. This year again, I am planting them in the last week of March and I intend to harvest them in the last week of June. Every year I plant my rice on the 15th of May and harvest it on the 15th of September.

          If I lived in Hokkaido, I would plant later and harvest later. In Hokkaido, potatoes are not harvested until the autumn. In Kyoto, they are harvested before the heat of summer. I could get away with planting rice in the middle of June, but then I might have to struggle trying to sun-dry the grain in late October. These differences are mostly climate-related.

          The only weather forecast that means a damn to me is the one for farmers and growers.

          In northern Kyoto, some years we get hit with lots of typhoons. Some years we get none. Some years we get hit by heavy snow. Some years we get none. 30km south of here, there is little or no snow most winters. 30km north of here there is at least a meter of snow on the ground without fail in January. A few hundred kilometers west of here in Kyushu, the number of typhoons making landfall is double what it is in Kyoto. This has been the case, apparently, for thousands and possibly for millions of years. The mountains of Kyushu are more worn down by heavy rain than the mountains of Kyoto are.

          When I am able to grow bananas and avocados in Kyoto, I will know that the climate has changed. But not before.

          Switch off your TV, do the crossword, and use the rest of the newspaper for cat litter and fish ‘n’ chip paper! I have a friend in England who used to buy the Guardian because its Berliner format was exactly the right size for lining the budgie’s cage.

          Thomas Jefferson wrote in a letter to someone, “I will add, that the man who never looks into a newspaper is better informed than he who reads them; inasmuch as he who knows nothing is nearer to truth than he whose mind is filled with falsehoods & errors. He who reads nothing will still learn the great facts, and the details are all false.”

      • gpdawson2016 says:

        The lesson we get from Lovelock’s retraction is that no one retracts, least of all here on OFW. This is the chief lesson of our times. There is no raproachment possible, we shout at each other thru the barricades.

        • DB says:

          I’m not so sure about that. Many of the long-time and thoughtful commenters here have changed their views on many topics (including CC and Covid, among others) in response to evidence and acknowledged such. What these individuals have in common is that they question authority (governments, scientists, doctors, etc.). I haven’t observed much change in the views of commenters who do defer to authority.

          • Fast Eddy says:

            I used to believe in GW — then the f789face who said the permafrost was gonna melt any year now and doom us … got that completely wrong + they changed it to CCh…

            And I was like — I’m being played…

            I also used to read the NYT and think it was truth …

            Never read Huff though… that’s really scraping bottom

            Huff is for zombies

            • Mrs S says:

              I used to believe in GW too.

              I have noticed that not many people move in the opposite direction.

            • Fast Eddy says:

              This is the greatest value of OFW… OFW can bring out the Fast Eddy who lurks in all of us… because inside every MOREON there is a Fast Eddy trying to get out.

              Then there’s norm… steady as she goes… 90 whatever years without a change of direction … they say wisdom comes with age… that’s another thing I’ve changed my mind on …

              Who got played the worst by the CovCON? The geriatrics continue to wear the face diapers… they take every booster on offer… they refuse to associate with their unvaxxed children and demand the grand kids get Rat Juiced — not giving a f789 about the long term consequences – they just care about ‘me’ … and squeezing a few more years out of the shrivelled prune. right norm?


            • everything is for zombies who comment at 3 am

        • Tim Groves says:

          It can be difficult to retract if one regards one’s opinions, and especially if they’ve been written or published, as extensions of oneself. Given such a psychological stance, a retraction would be an admission that one was not perfect, and even worse, that one had been wrong about something on the Internet.

          • Fast Eddy says:

            A guaranteed path to perpetual MOREONISM is the unwillingness to be wrong.

            Some of the stooopidest people I know get angry when confronted with facts and logic that demonstrate they are wrong.

            FYI – I spent most of my life believing we’d been to the moon. hahaha… I was such a f789ing MOREON….

            See how easy it is — you just make fun of yourself… and you can do that … cuz the person who believed that nonsense… was a f789ing MOREON.. this is the new and improved you.

            You too can have a 1500HP norm … theoretically.

            Anyone born during the bell bottom craze…

          • Lovelock offered 2 contrary points of view

            in 2008 he said one thing

            in 2014 he said the opposite

            even I admit to being wrong on occassion, though you Tim, enjoy taking an if or a but and dancing around with it in ecstasy to prove otherwise.Lovelock is entitled to change his mind—one of his comments is correct, the other isn’t

            Looking at our current climate situation, which of Lovelocks statesments was correct?

            We can ‘deny’ that climate change is happening, Evidence now would suggest that it is happening.

            Screaming that its all a hoax isnt going to change that

            • Tim Groves says:

              Well, “climate change is happening” is one of those statements that is too vague and generalized by itself to say anything precise. I have to ask, what kind of climate change are you referring to?

              You accuse me of playing with words, but in fact, I try to be reasonably precise about meaning, while you tend to be all over the place, making statements with unstated implications that you may not even be aware of. And when I try to pin you down, you are off like a butterfly, fluttering around the bushes and never staying still.

              On the other hand, I’ve never accepted that catastrophic climate change caused by human activity is happening or imminent or that as a result of said change that there will be no humans on Earth by 2026. So please don’t get me mixed up with the likes of Guy McPherson.

            • evidence of CC—for what its worth

              whether you believe it is a matter of indifference, it is you right not to

              first off—The Royal Society—impeccable credentials i should think


              >>>>Rigorous analysis of all data and lines of evidence shows that most of the observed global warming over the past 50 years or so cannot be explained by natural causes and instead requires a significant role for the influence of human activities.<<<>>>>The industrial activities of modern civilization have raised atmospheric carbon dioxide levels from 280 parts per million to 414 parts per million in the past 150 years. The panel also concluded there’s a better than 95 percent probability that human-produced greenhouse gases such as carbon dioxide, methane, and nitrous oxide have caused much of the observed increase in Earth’s temperatures over the past 50 years.<<<<<

              (There are hundreds of other refs)

              But, as with moonloonery—if you are prepared to accept a photo of some piece of kit put together and issued asproof of 'fakery', rather than the "unbroken silence?" of thousands of people involved in the actual appollo missions, (6 in total) then there's nothing i would want to do to dissuade you otherwise.

      • Fast Eddy says:

        Oh come on Tim — James was long in the tooth … and he wanted that holiday home on the Spanish coast… so he finally gave in and took that 10M that the coal lobby had been dangling in front of him for years…

        And he betrayed the cause.

        Right norm?

  31. Student says:

    (La Verità)

    ”From Bates to Pfizer, see how many funds go to Italian tv virus stars.
    Matteo Bassetti collects consultancies, Andrea Crisanti is supported by US military agency.
    Big Pharma money goes also to Roberto Burioni and Franco Locatelli.
    The habit to nonchalantly pass from public jobs to Big Pharma jobs is pervasive.
    There is the risk of a relationship which is extremely close among who make controls and who need to be controlled.”


    • Student says:

      Sorry, there is a typing error, it is ‘from Gates to Pfizer’

    • Student says:

      (Il Paragone)

      Additional info about COVID in ITALY are here:

      ”Virologist ANDREA CRISANTI for example managed projects with funds from the EU Commission “worth about 13 million euros,” the British government agency Bbsrc, and the U.S. National Health Institute (NIH) of Francis Collins and Anthony FAUCI. In the following months, taking advantage of the wave of popularity he gained, he was elected with the Democratic Party.
      In addition, Crisanti was even supported by the DARPA (Defense Advanced Research Projects Agency), a U.S. MILITARY AGENCY that granted him between 2017 and 2021 funds for $2.6 million about the Safegene drive technology project.
      Also the two largest international private funds, the ‘BILL AND MELISSA GATES FOUNDATION’ (Bmgf) and the ‘WELLCOME TRUST’, have invested in Crisanti’s work. The Bmgf has subsidized with £5 million the Imperial College Target Malaria project of which Crisanti is principal investigator.

      It is long also the list of funds that Dr. MATTEO BASSETTI has benefited from: “Angelini, Astellas, ASTRA ZENECA, Basel, Bayer, BioMérieux, Cidara, Correvio, Cubist, Menarini, Molteni, Nabriva, Paratek, Roche, Shionogi, Tetraphase, Thermo Fisher, The Medicine Company and PFIZER.
      Separate mention for the German pharmaceutical company “MSD, manufacturer of the anti-COVID drug MOLNUPIRAVIR, cost $610 per dose, lately associated with severe kidney disorders and nephrotoxicity.
      Yet Italy “had rushed to order 51,840 cycles at the modest sum of 32 million euros.”


      • Student says:

        The ‘Doctors’ quoted above by ‘La Verità’ and ‘Il Paragone’ are the ones who have managed the Italian public debate on TV and on newspapers during COVID time and have also guided the choices and the government decisions during that time.
        They have influenced and convinced people and have helped to shape government decisions.
        But, of course, they are not the only ones.

  32. Fast Eddy says:

    Wolf Richter
    Mar 19, 2023 at 5:35 pm

    Unrelated to this comment here… your comments fall into two categories: 1. excellent comments on various things; and 2. comments that promote some kind of crazy economic theory (that I cannot figure out where it’s coming from). And I block those comments.

    When I first started the predecessor site, and even in the early years of this site, I had lots of comments that promoted the principles of MMT (without actually naming MMT). I didn’t realize it for the first few years, but as I got wiser about this stuff, I saw the pattern. So I reached out to these commenters via their log-in emails. I suppose most of them were fake. But one of them actually worked. He replied back and said he was an old guy in Australia making a little money posting these comments. A paid MMT troll. They were swarming the blogs. That’s how MMT became a big thing in the blogosphere. I’ve been blocking all comments that promote MMT principles since then.

    But the theory you’re promoting is not MMT. I don’t know what it is. But it’s pretty crazy. Maybe some professor is trying to do with his theory what Prof. William Mitchell (University of Newcastle, New South Wales, Australia), was able to do with his MMT.

    Can you give me any clues, such as which economics professor is trying to promote what theory?


    Perhaps norm is paid to insist the Rat Juice is safe and effective?

  33. Fast Eddy says:

    Something for your Espresso: Bye bye to AT1 investors

    The Fed is likely to hike on Wednesday even if markets are screaming that they should rather cut. The first stages of the crisis playbook are playing out. The next will be pivots from central banks.

    First, “there is nothing to see here, but we are monitoring the situation closely”. Second, “this bank is an outlier, and the system is fine”. Third, “we will add liquidity as a safeguarding measure, but we don’t see broad-based risks.”

    We are slowly but surely seeing the first stages of the crisis playbook unfolding and the next steps are likely to follow in coming weeks even if central banks are not admitting to it yet. USD liquidity swap lines have now been changed to daily operations (from weekly), which is a first sign that central banks find this to be a liquidity crisis still, which is another signal that they always fight the last war. 2008/2009 proved to be an interbank liquidity crisis, while this crisis is different in nature. It is driven by the extraordinarily inverted yield curve and the lack of banks willingness to increase deposit rates.

    Banks have a hard time dealing with an extraordinarily inverted yield curve due to 1) the risk of a deposit flight and 2) mark-to-market losses on bond portfolios. We can continue to explain these cases away as stand-alone cases, but the underlying reasons are found in monetary policy, and this is about as strong a hint that you get that the hiking cycle is over. The next part of the crisis is to consider cuts and then QE is ultimately also in play to safeguard the value of collateral in the system.

    The Fed pricing is 50/50 ahead of Wednesday and we would not be surprised if the Fed delivered a hike that they will very soon thereafter regret big time.

    Chart 1. Fed pricing ahead of Wednesday


  34. Fast Eddy says:

    Fent is now normal https://t.me/leaklive/12931

    Well done Mr Zebra https://t.me/leaklive/12932

  35. Fast Eddy says:

    One for the doomies https://t.me/leaklive/12923

  36. Fast Eddy says:

    TRAGIC: 37-Year-Old Italian Swimmer Reportedly Took His Own Life After a Long Period of Suffering Due to COVID Vaccine Reaction


  37. Fast Eddy says:

    25-Year-Old NFL Player Abruptly Announces Retirement: ‘My Health is Above Anything’


    • reante says:

      His use of “over-stand” in his statement would be a direct reference to Umar Johnson who I previously mentioned is my orator on the planet. Love that dude. Overstand, innerstand, understand. Johnson is a panafricanist following in bob Marley’s footsteps, calling for an exodus.

      A lot of people here at OFW probably think the systemic racism thing is a crock just because the Democratic party co-opted it for political purposes. But obviously it’s not. The economic oppression that led to the CIA funneling of drugs that led to the war on drugs entrapment and biased prosecutions and third strike laws put more black men in prison than cotton slaves that ever existed in America. Meanwhile about 50pc of black babies were aborted over the last 30 years by planned Parenthood who put 80pc of their clinics in black neighborhoods to service broken young women.That’s black genocide.

      A continuing, monster entrapment scheme against the black race.

      6min overview of Umar Johnson’s prescriptions for his race. This is the work I assume this NFL player is retiring to pursue. And so he can avoid more boosters.


  38. Fast Eddy says:

    STUNNING: Janet Yellen Admits Smaller Regional Midwest Banks Will Not Be Bailed Out – Only Big Banks Deemed Worthy by Biden Regime (VIDEO)


  39. Fast Eddy says:

    See why they want to exterminate everyone? They know what happens if they fail.. they’ll be skinned alive https://t.me/downtherabbitholewegofolks/69424

  40. Fast Eddy says:

    I’ve worked it out… the reason they encourage illegal immigration resulting in this https://t.me/TommyRobinsonNews/45966

    Is the same as the Tranny thing.. it rips the fabric of a society to pieces… so that the MOREONS embrace extermination.

  41. Fast Eddy says:

    There is not a single bed free in the hospital, and often over 100 people waiting in ED. The ambulances are used as extra hospital beds! Last week the entire Waikato fleet of 15 ambulances was parked outside the hospital with patients in because there was nowhere to put them. That left ZERO ambulances available for calls in the waikato.

    He shared that last week a doctor started his shift by saying “if anyone dies tonight i am not responsible”.

    Both medics here show great courage in speaking out about what they are seeing. There is of course another area of health that is also being swept under the carpet, awaiting courageous medics to speak up. #covidvaccine injury.

    I find it interesting that neither medic mentioned the thousands of nurses, doctors, surgeons, hospital orderlies and more who were #mandated out of their jobs.

    Take home message. Look after your health because you sure as hell don’t want to end up in an #nz hospital right now.


    BitChute (https://www.bitchute.com/video/JyNON2gm1zOO/)
    NewsTalkZB Calls: Top Surgeon & Paramedic Warn Health System Impolding, March 17, 2023

    • Wet My Beak says:

      new zealand is a third world country which is also extremely violent and corrupt.

      • Herbie Ficklestein. says:

        Is that why Nuttie Eddie selected to make it his home?
        Just asking for Norm….

      • Bam_Man says:

        The wine in NZ is very good and quite inexpensive – if you lean towards Sauvignon Blanc and Pinot Noir.

      • Fast Eddy says:

        The only city in the country that is safe is Queenstown … it’s a huge tourist hub that brings in the $$$ so they make sure the violent critters are kept away… everywhere else — watch your back

        • that crowd who run the local med centre are really an undercover assasination squad

          aint that so eddY

          (btw—whats the rant rate this morning?)

  42. Fast Eddy says:


    So much of a mess that a Christchurch Surgeon and a Waikato Paramedic have gone public with an insiders truth on the reality of the risk we face within the hospital system.

    It’s not good

    Says Prof Frank Frizelle (surgeon) “The implosion of the health sector at the moment is just incredible” and “the crap that comes out of the mouths of politicians and senior Te Whatu Ora management, doesn’t reflect what needs to be done”.

    The Waikato Paramedic shares that their ED is in total crises and people are literally dying as a result. Last week a woman on a stretcher in the hall way (because there were no beds in the entire hospital) DIED in the hallway, and it was 2 hours before any staff even noticed.

    • Wet My Beak says:

      People will look back and say that she was one of the lucky ones.

      For the rest of the new zealanders they face the daily horror of corruption, sectarian violence, collapsing standards of living, an education system that couldn’t train a rhesus monkey to eat a banana, karmic destruction through weather events and rising gang authority.

      Now no new zealander can be confident that when they leave for work in the morning they will return unharmed at night.


      • Fast Eddy says:

        Any doctor with any ability goes to Australia and earns far higher wages…

        Only the barely competent would stay in NZ.

  43. Herbie Ficklestein. says:

    Nuttie Eddie…looks here to the MOON bro..honest..

    NASA chief engineer Howard Hu: ‘We have built the best spacecraft that we’ve ever seen’
    The man in charge of the new ship that will take astronauts to the Moon discusses the next manned missions to the Earth’s satellite and the possibility of people living there.
    The engineer, who leads a team of approximately 3,500 people — both at NASA and at more than 800 supplier companies — was recently in Spain to meet with companies that took part in the construction of the European Service Module developed by the European Space Agency, which provides air, water, electricity, propulsion and temperature control to the Orion spacecraft. He showed them new data from Artemis 1, the first unmanned test mission, which returned to Earth after orbiting the Moon in December last year. In this interview, Hu outlines his upcoming goals, including making history by sending the first woman and the first person of color to the Moon by 2025.
    How long will the astronauts be in the spacecraft?

    A. After we launch out of Kennedy Space Center, the ship will orbit the Earth for 24 hours as we make sure that everything is good, that the equipment is ready to go. Then we’ll basically swing around the Moon and come back. This will be a 10 to 12 day mission, depending on when we launch. It’ll be a much shorter mission than Artemis 1, which took 25 and a half days. We’re targeting end of next year.
    And then there will be Artemis 3, in which a woman and a person of color will walk on the Moon for the first time in history. It will be very different from when the Apollo astronauts arrived. What exactly will we see during this mission?

    A. The big difference is going to be the Starship lander [made by Elon Musk’s SpaceX ], which is very big. For rendezvous and docking, with something that massive, we haven’t done something like that in lunar space. That’s going to be one of the big challenges. Of course, I think the videos are going to be much better than Apollo, not grainy and black and white. We’re going to really have a lot of good high definition video coming from the surface of the Moon. And of course, the suits are going to be different.

    There you go….to the MOON in a Rainbow 🌈

    • Sounds like a good diversion from our problems on earth. If we can fly to the moon, we can do anything!

      • Cromagnon says:

        Except of course colonize Antarctica, which is many magnitudes of order easier than the moon.

        Except perhaps of course unless there is another more sophisticated and dangerous species already down there?

        That’s just silly talk right?

      • Herbie Ficklestein. says:

        It gets better ….here you are Eddie …
        How long will the astronauts be on the surface?

        A. About six days. The first missions will be very short, establishing the science. As we go forward with Artemis 4 and beyond, we’ll begin to establish an infrastructure, long term habitats, logistic modules, rovers… all these things are needed. You need to have a long term capability to be able to live there for a longer time, days, weeks, months. That’s going to be very important.

        Elon already has placed a deposit for a Crater View Condo…

        • Tsubion says:

          Will the Moon have BAU, UEP, FE and their own Norm?

          If no then no go.

        • Fast Eddy says:

          So if they actually go forward with a moon mission (they won’t just like they didnt when Bush said they were planning one cuz it’s impossible) my neighbour is a retired astronomer — I am told he has a kick ass telescope … I’ll bring over a box of beer and we’ll watch man walk in the moon….

      • Fast Eddy says:

        ‘living there’ hahahaha… and then we can fly to other Earth like planets and live there…

        The mob will believe … whatever CNNBBC tells it to believe

  44. Fast Eddy says:

    California School District Emails Reveal Students Were Secretly Gender Transitioned

    A parental rights group in Orange County, California, claims 23 students began social gender transitioning at a local school district without informed parental consent.


    Makes sense

  45. CTG says:

    I copied this wholesale from ZH and I did not check for authenticity

    Cost of bread in Germany, in Reichsmark :

    January 1918 : 0.25
    January 1922 : 3
    January 1923 : 700
    May 1923 : 1200
    July 1923 : 100.000
    September 1923 : 2 million
    October 1923 : 700 million
    November 1923 : 80 billion
    November 8, 1923: Hitler’s putsch attempt

    It is certainly exponential. Surprise surprise it is exact 100 years ago. We are now in March. Somethuing between 700 and 1200…….

    • Just print more money. It will sort of fix things, but it won’t make more goods that can actually be purchased.

    • Herbie Ficklestein. says:

      Looks as if we are headed in that direction….once it’s starts rolling, it’s hard to stop…like a rolling stone

    • Bam_Man says:

      The post-war reparations payments that Germany was obliged to make actually went almost 100% towards re-payment of (gold-standard) war debts owed by France and Great Britain to the big Wall St. banking houses.

      They had little choice but to print “money” to fund the government and domestic economy.

      Read Ron Chernow’s “House of Morgan”. Very enlightening.

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