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Category: blogSource: theflyonthewallMay 25th, 2021

30 Facts You Need To Know: A COVID Cribsheet

30 Facts You Need To Know: A COVID Cribsheet Authored by Kit Knightly via Off-Guardian.org, You asked for it, so we made it. A collection of all the arguments you’ll ever need. We get a lot of e-mails and private messages along these lines “do you have a source for X?” or “can you point me to mask studies?” or “I know I saw a graph for mortality, but I can’t find it anymore”. And we understand, it’s been a long 18 months, and there are so many statistics and numbers to try and keep straight in your head. So, to deal with all these requests, we decided to make a bullet-pointed and sourced list for all the key points. A one-stop-shop. Here are key facts and sources about the alleged “pandemic”, that will help you get a grasp on what has happened to the world since January 2020, and help you enlighten any of your friends who might be still trapped in the New Normal fog: “Covid deaths” – Lockdowns – PCR Tests – “asymptomatic infection” – Ventilators – Masks – Vaccines – Deception & Foreknowledge *  *  * PART I: “COVID DEATHS” & MORTALITY 1. The survival rate of “Covid” is over 99%. Government medical experts went out of their way to underline, from the beginning of the pandemic, that the vast majority of the population are not in any danger from Covid. Almost all studies on the infection-fatality ratio (IFR) of Covid have returned results between 0.04% and 0.5%. Meaning Covid’s survival rate is at least 99.5%. * 2. There has been NO unusual excess mortality. The press has called 2020 the UK’s “deadliest year since world war two”, but this is misleading because it ignores the massive increase in the population since that time. A more reasonable statistical measure of mortality is Age-Standardised Mortality Rate (ASMR): By this measure, 2020 isn’t even the worst year for mortality since 2000, In fact since 1943 only 9 years have been better than 2020. Similarly, in the US the ASMR for 2020 is only at 2004 levels: For a detailed breakdown of how Covid affected mortality across Western Europe and the US click here. What increases in mortality we have seen could be attributable to non-Covid causes [facts 7, 9 & 19]. * 3. “Covid death” counts are artificially inflated. Countries around the globe have been defining a “Covid death” as a “death by any cause within 28/30/60 days of a positive test”. Healthcare officials from Italy, Germany, the UK, US, Northern Ireland and others have all admitted to this practice: Removing any distinction between dying of Covid, and dying of something else after testing positive for Covid will naturally lead to over-counting of “Covid deaths”. British pathologist Dr John Lee was warning of this “substantial over-estimate” as early as last spring. Other mainstream sources have reported it, too. Considering the huge percentage of “asymptomatic” Covid infections [14], the well-known prevalence of serious comorbidities [fact 4] and the potential for false-positive tests [fact 18], this renders the Covid death numbers an extremely unreliable statistic. * 4. The vast majority of covid deaths have serious comorbidities. In March 2020, the Italian government published statistics showing 99.2% of their “Covid deaths” had at least one serious comorbidity. These included cancer, heart disease, dementia, Alzheimer’s, kidney failure and diabetes (among others). Over 50% of them had three or more serious pre-existing conditions. This pattern has held up in all other countries over the course of the “pandemic”. An October 2020 FOIA request to the UK’s ONS revealed less than 10% of the official “Covid death” count at that time had Covid as the sole cause of death. * 5. Average age of “Covid death” is greater than the average life expectancy. The average age of a “Covid death” in the UK is 82.5 years. In Italy it’s 86. Germany, 83. Switzerland, 86. Canada, 86. The US, 78, Australia, 82. In almost all cases the median age of a “Covid death” is higher than the national life expectancy. As such, for most of the world, the “pandemic” has had little-to-no impact on life expectancy. Contrast this with the Spanish flu, which saw a 28% drop in life expectancy in the US in just over a year. [source] * 6. Covid mortality exactly mirrors the natural mortality curve. Statistical studies from the UK and India have shown that the curve for “Covid death” follows the curve for expected mortality almost exactly: The risk of death “from Covid” follows, almost exactly, your background risk of death in general. The small increase for some of the older age groups can be accounted for by other factors.[facts 7, 9 & 19] * 7. There has been a massive increase in the use of “unlawful” DNRs. Watchdogs and government agencies have reported huge increases in the use of Do Not Resuscitate Orders (DNRs) over the last twenty months. In the US, hospitals considered “universal DNRs” for any patient who tested positive for Covid, and whistleblowing nurses have admitted the DNR system was abused in New York. In the UK there was an “unprecdented” rise in “illegal” DNRs for disabled people, GP surgeries sent out letters to non-terminal patients recommending they sign DNR orders, whilst other doctors signed “blanket DNRs” for entire nursing homes. A study done by Sheffield Univerisity found over one-third of all “suspected” Covid patients had a DNR attached to their file within 24 hours of hospital admission. Blanket use of coerced or illegal DNR orders could account for any increases in mortality in 2020/21.[Facts 2 & 6] *  *  * PART II: LOCKDOWNS 8. Lockdowns do not prevent the spread of disease. There is little to no evidence lockdowns have any impact on limiting “Covid deaths”. If you compare regions that locked down to regions that did not, you can see no pattern at all. “Covid deaths” in Florida (no lockdown) vs California (lockdown) “Covid deaths” in Sweden (no lockdown) vs UK (lockdown) * 9. Lockdowns kill people. There is strong evidence that lockdowns – through social, economic and other public health damage – are deadlier than the “virus”. Dr David Nabarro, World Health Organization special envoy for Covid-19 described lockdowns as a “global catastrophe” in October 2020: We in the World Health Organization do not advocate lockdowns as the primary means of control of the virus[…] it seems we may have a doubling of world poverty by next year. We may well have at least a doubling of child malnutrition […] This is a terrible, ghastly global catastrophe.” A UN report from April 2020 warned of 100,000s of children being killed by the economic impact of lockdowns, while tens of millions more face possible poverty and famine. Unemployment, poverty, suicide, alcoholism, drug use and other social/mental health crises are spiking all over the world. While missed and delayed surgeries and screenings are going to see increased mortality from heart disease, cancer et al. in the near future. The impact of lockdown would account for the small increases in excess mortality [Facts 2 & 6] * 10. Hospitals were never unusually over-burdened. the main argument used to defend lockdowns is that “flattening the curve” would prevent a rapid influx of cases and protect healthcare systems from collapse. But most healthcare systems were never close to collapse at all. In March 2020 it was reported that hospitals in Spain and Italy were over-flowing with patients, but this happens every flu season. In 2017 Spanish hospitals were at 200% capacity, and 2015 saw patients sleeping in corridors. A paper JAMA paper from March 2020 found that Italian hospitals “typically run at 85-90% capacity in the winter months”. In the UK, the NHS is regularly stretched to breaking point over the winter. As part of their Covid policy, the NHS announced in Spring of 2020 that they would be “re-organizing hospital capacity in new ways to treat Covid and non-Covid patients separately” and that “as result hospitals will experience capacity pressures at lower overall occupancy rates than would previously have been the case.” This means they removed thousands of beds. During an alleged deadly pandemic, they reduced the maximum occupancy of hospitals. Despite this, the NHS never felt pressure beyond your typical flu season, and at times actually had 4x more empty beds than normal. In both the UK and US millions were spent on temporary emergency hospitals that were never used. *  *  * PART III: PCR TESTS 11. PCR tests were not designed to diagnose illness. The Reverse-Transcriptase Polymerase Chain Reaction (RT-PCR) test is described in the media as the “gold standard” for Covid diagnosis. But the Nobel Prize-winning inventor of the process never intended it to be used as a diagnostic tool, and said so publicly: PCR is just a process that allows you to make a whole lot of something out of something. It doesn’t tell you that you are sick, or that the thing that you ended up with was going to hurt you or anything like that.” * 12. PCR Tests have a history of being inaccurate and unreliable. The “gold standard” PCR tests for Covid are known to produce a lot of false-positive results, by reacting to DNA material that is not specific to Sars-Cov-2. A Chinese study found the same patient could get two different results from the same test on the same day. In Germany, tests are known to have reacted to common cold viruses. A 2006 study found PCR tests for one virus responded to other viruses too. In 2007, a reliance on PCR tests resulted in an “outbreak” of Whooping Cough that never actually existed. Some tests in the US even reacted to the negative control sample. The late President of Tanzania, John Magufuli, submitted samples goat, pawpaw and motor oil for PCR testing, all came back positive for the virus. As early as February of 2020 experts were admitting the test was unreliable. Dr Wang Cheng, president of the Chinese Academy of Medical Sciences told Chinese state television “The accuracy of the tests is only 30-50%”. The Australian government’s own website claimed “There is limited evidence available to assess the accuracy and clinical utility of available COVID-19 tests.” And a Portuguese court ruled that PCR tests were “unreliable” and should not be used for diagnosis. You can read detailed breakdowns of the failings of PCR tests here, here and here. * 13. The CT values of the PCR tests are too high. PCR tests are run in cycles, the number of cycles you use to get your result is known as your “cycle threshold” or CT value. Kary Mullis said: “If you have to go more than 40 cycles[…]there is something seriously wrong with your PCR.” The MIQE PCR guidelines agree, stating: “[CT] values higher than 40 are suspect because of the implied low efficiency and generally should not be reported,” Dr Fauci himself even admitted anything over 35 cycles is almost never culturable. Dr Juliet Morrison, virologist at the University of California, Riverside, told the New York Times: Any test with a cycle threshold above 35 is too sensitive…I’m shocked that people would think that 40 [cycles] could represent a positive…A more reasonable cutoff would be 30 to 35″. In the same article Dr Michael Mina, of the Harvard School of Public Health, said the limit should be 30, and the author goes on to point out that reducing the CT from 40 to 30 would have reduced “covid cases” in some states by as much as 90%. The CDC’s own data suggests no sample over 33 cycles could be cultured, and Germany’s Robert Koch Institute says nothing over 30 cycles is likely to be infectious. Despite this, it is known almost all the labs in the US are running their tests at least 37 cycles and sometimes as high as 45. The NHS “standard operating procedure” for PCR tests rules set the limit at 40 cycles. Based on what we know about the CT values, the majority of PCR test results are at best questionable. * 14. The World Health Organization (Twice) Admitted PCR tests produced false positives. In December 2020 WHO put out a briefing memo on the PCR process instructing labs to be wary of high CT values causing false positive results: when specimens return a high Ct value, it means that many cycles were required to detect virus. In some circumstances, the distinction between background noise and actual presence of the target virus is difficult to ascertain. Then, in January 2021, the WHO released another memo, this time warning that “asymptomatic” positive PCR tests should be re-tested because they might be false positives: Where test results do not correspond with the clinical presentation, a new specimen should be taken and retested using the same or different NAT technology. * 15. The scientific basis for Covid tests is questionable. The genome of the Sars-Cov-2 virus was supposedly sequenced by Chinese scientists in December 2019, then published on January 10th 2020. Less than two weeks later, German virologists (Christian Drosten et al.) had allegedly used the genome to create assays for PCR tests. They wrote a paper, Detection of 2019 novel coronavirus (2019-nCoV) by real-time RT-PCR, which was submitted for publication on January 21st 2020, and then accepted on January 22nd. Meaning the paper was allegedly “peer-reviewed” in less than 24 hours. A process that typically takes weeks. Since then, a consortium of over forty life scientists has petitioned for the withdrawal of the paper, writing a lengthy report detailing 10 major errors in the paper’s methodology. They have also requested the release of the journal’s peer-review report, to prove the paper really did pass through the peer-review process. The journal has yet to comply. The Corman-Drosten assays are the root of every Covid PCR test in the world. If the paper is questionable, every PCR test is also questionable. *  *  * PART IV: “ASYMPTOMATIC INFECTION” 16. The majority of Covid infections are “asymptomatic”. From as early as March 2020, studies done in Italy were suggesting 50-75% of positive Covid tests had no symptoms. Another UK study from August 2020 found as much as 86% of “Covid patients” experienced no viral symptoms at all. It is literally impossible to tell the difference between an “asymptomatic case” and a false-positive test result. * 17. There is very little evidence supporting the alleged danger of “asymptomatic transmission”. In June 2020, Dr Maria Van Kerkhove, head of the WHO’s emerging diseases and zoonosis unit, said: From the data we have, it still seems to be rare that an asymptomatic person actually transmits onward to a secondary individual,” A meta-analysis of Covid studies, published by Journal of the American Medical Association (JAMA) in December 2020, found that asymptomatic carriers had a less than 1% chance of infecting people within their household. Another study, done on influenza in 2009, found: …limited evidence to suggest the importance of [asymptomatic] transmission. The role of asymptomatic or presymptomatic influenza-infected individuals in disease transmission may have been overestimated…” Given the known flaws of the PCR tests, many “asymptomatic cases” may be false positives.[fact 14] *  *  * PART V: VENTILATORS 18. Ventilation is NOT a treatment for respiratory viruses. Mechanical ventilation is not, and never has been, recommended treatment for respiratory infection of any kind. In the early days of the pandemic, many doctors came forward questioning the use of ventilators to treat “Covid”. Writing in The Spectator, Dr Matt Strauss stated: Ventilators do not cure any disease. They can fill your lungs with air when you find yourself unable to do so yourself. They are associated with lung diseases in the public’s consciousness, but this is not in fact their most common or most appropriate application. German Pulmonologist Dr Thomas Voshaar, chairman of Association of Pneumatological Clinics said: When we read the first studies and reports from China and Italy, we immediately asked ourselves why intubation was so common there. This contradicted our clinical experience with viral pneumonia. Despite this, the WHO, CDC, ECDC and NHS all “recommended” Covid patients be ventilated instead of using non-invasive methods. This was not a medical policy designed to best treat the patients, but rather to reduce the hypothetical spread of Covid by preventing patients from exhaling aerosol droplets. * 19. Ventilators killed people. Putting someone who is suffering from influenza, pneumonia, chronic obstructive pulmonary disease, or any other condition which restricts breathing or affects the lungs, will not alleviate any of those symptoms. In fact, it will almost certainly make it worse, and will kill many of them. Intubation tubes are a source of potential a infection known as “ventilator-associated pneumonia”, which studies show affects up to 28% of all people put on ventilators, and kills 20-55% of those infected. Mechanical ventilation is also damaging to the physical structure of the lungs, resulting in “ventilator-induced lung injury”, which can dramatically impact quality of life, and even result in death. Experts estimate 40-50% of ventilated patients die, regardless of their disease. Around the world, between 66 and 86% of all “Covid patients” put on ventilators died. According to the “undercover nurse”, ventilators were being used so improperly in New York, they were destroying patients’ lungs: This policy was negligence at best, and potentially deliberate murder at worst. This misuse of ventilators could account for any increase in mortality in 2020/21 [Facts 2 & 6] *  *  * PART VI: MASKS 20. Masks don’t work. At least a dozen scientific studies have shown that masks do nothing to stop the spread of respiratory viruses. One meta-analysis published by the CDC in May 2020 found “no significant reduction in influenza transmission with the use of face masks”. Another study with over 8000 subjects found masks “did not seem to be effective against laboratory-confirmed viral respiratory infections nor against clinical respiratory infection.” There are literally too many to quote them all, but you can read them: [1][2][3][4][5][6][7][8][9][10] Or read a summary by SPR here. While some studies have been done claiming to show mask do work for Covid, they are all seriously flawed. One relied on self-reported surveys as data. Another was so badly designed a panel of experts demand it be withdrawn. A third was withdrawn after its predictions proved entirely incorrect. The WHO commissioned their own meta-analysis in the Lancet, but that study looked only at N95 masks and only in hospitals. [For full run down on the bad data in this study click here.] Aside from scientific evidence, there’s plenty of real-world evidence that masks do nothing to halt the spread of disease. For example, North Dakota and South Dakota had near-identical case figures, despite one having a mask-mandate and the other not: In Kansas, counties without mask mandates actually had fewer Covid “cases” than counties with mask mandates. And despite masks being very common in Japan, they had their worst flu outbreak in decades in 2019. * 21. Masks are bad for your health. Wearing a mask for long periods, wearing the same mask more than once, and other aspects of cloth masks can be bad for your health. A long study on the detrimental effects of mask-wearing was recently published by the International Journal of Environmental Research and Public Health Dr. James Meehan reported in August 2020 he was seeing increases in bacterial pneumonia, fungal infections, facial rashes . Masks are also known to contain plastic microfibers, which damage the lungs when inhaled and may be potentially carcinogenic. Childen wearing masks encourages mouth-breathing, which results in facial deformities. People around the world have passed out due to CO2 poisoning while wearing their masks, and some children in China even suffered sudden cardiac arrest. * 22. Masks are bad for the planet. Millions upon millions of disposable masks have been used per month for over a year. A report from the UN found the Covid19 pandemic will likely result in plastic waste more than doubling in the next few years., and the vast majority of that is face masks. The report goes on to warn these masks (and other medical waste) will clog sewage and irrigation systems, which will have knock on effects on public health, irrigation and agriculture. A study from the University of Swansea found “heavy metals and plastic fibres were released when throw-away masks were submerged in water.” These materials are toxic to both people and wildlife. *  *  * PART VII: VACCINES 23. Covid “vaccines” are totally unprecedented. Before 2020 no successful vaccine against a human coronavirus had ever been developed. Since then we have allegedly made 20 of them in 18 months. Scientists have been trying to develop a SARS and MERS vaccine for years with little success. Some of the failed SARS vaccines actually caused hypersensitivity to the SARS virus. Meaning that vaccinated mice could potentially get the disease more severely than unvaccinated mice. Another attempt caused liver damage in ferrets. While traditional vaccines work by exposing the body to a weakened strain of the microorganism responsible for causing the disease, these new Covid vaccines are mRNA vaccines. mRNA (messenger ribonucleic acid) vaccines theoretically work by injecting viral mRNA into the body, where it replicates inside your cells and encourages your body to recognise, and make antigens for, the “spike proteins” of the virus. They have been the subject of research since the 1990s, but before 2020 no mRNA vaccine was ever approved for use. * 24. Vaccines do not confer immunity or prevent transmission. It is readily admitted that Covid “vaccines” do not confer immunity from infection and do not prevent you from passing the disease onto others. Indeed, an article in the British Medical Journal highlighted that the vaccine studies were not designed to even try and assess if the “vaccines” limited transmission. The vaccine manufacturers themselves, upon releasing the untested mRNA gene therapies, were quite clear their product’s “efficacy” was based on “reducing the severity of symptoms”. * 25. The vaccines were rushed and have unknown longterm effects. Vaccine development is a slow, laborious process. Usually, from development through testing and finally being approved for public use takes many years. The various vaccines for Covid were all developed and approved in less than a year. Obviously there can be no long-term safety data on chemicals which are less than a year old. Pfizer even admit this is true in the leaked supply contract between the pharmaceutical giant, and the government of Albania: the long-term effects and efficacy of the Vaccine are not currently known and that there may be adverse effects of the Vaccine that are not currently known Further, none of the vaccines have been subject to proper trials. Many of them skipped early-stage trials entirely, and the late-stage human trials have either not been peer-reviewed, have not released their data, will not finish until 2023 or were abandoned after “severe adverse effects”. * 26. Vaccine manufacturers have been granted legal indemnity should they cause harm. The USA’s Public Readiness and Emergency Preparedness Act (PREP) grants immunity until at least 2024. The EU’s product licensing law does the same, and there are reports of confidential liability clauses in the contracts the EU signed with vaccine manufacturers. The UK went even further, granting permanent legal indemnity to the government, and any employees thereof, for any harm done when a patient is being treated for Covid19 or “suspected Covid19”. Again, the leaked Albanian contract suggests that Pfizer, at least, made this indemnity a standard demand of supplying Covid vaccines: Purchaser hereby agrees to indemnify, defend and hold harmless Pfizer […] from and against any and all suits, claims, actions, demands, losses, damages, liabilities, settlements, penalties, fines, costs and expenses *  *  * PART VIII: DECEPTION & FOREKNOWLEDGE 27. The EU was preparing “vaccine passports” at least a YEAR before the pandemic began. Proposed COVID countermeasures, presented to the public as improvised emergency measures, have existed since before the emergence of the disease. Two EU documents published in 2018, the “2018 State of Vaccine Confidence” and a technical report titled “Designing and implementing an immunisation information system” discussed the plausibility of an EU-wide vaccination monitoring system. These documents were combined into the 2019 “Vaccination Roadmap”, which (among other things) established a “feasibility study” on vaccine passports to begin in 2019 and finish in 2021: This report’s final conclusions were released to the public in September 2019, just a month before Event 201 (below). * 28. A “training exercise” predicted the pandemic just weeks before it started. In October 2019 the World Economic Forum and Johns Hopkins University held Event 201. This was a training exercise based on a zoonotic coronavirus starting a worldwide pandemic. The exercise was sponsored by the Bill and Melinda Gates Foundation and GAVI the vaccine alliance. The exercise published its findings and recommendations in November 2019 as a “call to action”. One month later, China recorded their first case of “Covid”. * 29. Since the beginning of 2020, the Flu has “disappeared”. In the United States, since Februart 2020, influenza cases have allegedly dropped by over 98%. It’s not just the US either, globally flu has apparently almost completely disappeared. Meanwhile, a new disease called “Covid”, which has identical symptoms and a similar mortality rate to influenza, is supposedly sweeping the globe. * 30. The elite have made fortunes during the pandemic. Since the beginning of lockdown the wealthiest people have become significantly wealthier. Forbes reported that 40 new billionaires have been created “fighting the coronavirus”, with 9 of them being vaccine manufacturers. Business Insider reported that “billionaires saw their net worth increase by half a trillion dollars” by October 2020. Clearly that number will be even bigger by now. *  *  * These are the vital facts of the pandemic, presented here as a resource to help formulate and support your arguments with friends or strangers. Thanks to all the researchers who have collated and collected this information over the last twenty months, especially Swiss Policy Research. Tyler Durden Sun, 09/26/2021 - 07:00.....»»

Category: personnelSource: nyt17 hr. 12 min. ago

How the evangelical Christian right seeded the false, yet surprisingly resilient, theory that vaccines contain microchips

Conservative Christian groups have linked the vaccine to the Biblical 'Mark of the Beast' for decades, a claim echoed in current anti-vaxx rhetoric. Anti-vaccine rally protesters hold signs outside of Houston Methodist Hospital in Houston, Texas, on June 26, 2021. MARK FELIX/AFP /AFP via Getty Images The groundless conspiracy theory that vaccines contain microchips is believed by thousands. The narrative has deep roots in the right-wing evangelical movement. Prominent figures turbocharged the theory in the era of COVID-19, helping drive US vaccine hesitancy. See more stories on Insider's business page. Back in August, the right-wing evangelical Mat Staver appeared on an hour-long livestream hosted by the World Prayer Network.In it, he told listeners that vaccines for COVID-19 were not meant to save the world from the pandemic, but instead to radically depopulate it.The groundless theory has no evidence at all to support it, but has proved durable all the same."What is involved in this is depopulation, population control to reduce the population of the planet, and to control everyone, and to do it by force and to have a tracking mechanism to determine whether or not you've had one of these particular injections," Staver said.He linked the fictitious plot to Microsoft founder Bill Gates, who has become a hate figure for right-wing anti-vaccine activists during the pandemic.In an emailed statement to Insider, Staver denied believing the microchip theory, but did not seek to reconcile that with the times he had publicly advocated it.The belief that COVID-19 vaccines are being used to secretly implant tracking mechanisms or microchips has spread far and wide during the pandemic.According to a survey by YouGov for The Economist magazine in July, about half those resistant to getting the shot believe the microchip claim. With about 80 million Americans still unvaccinated, that makes millions of believers in a version of of the conspiracy theory. Some have traced the conspiracy theory back to a Q&A given by Gates on Reddit on March 18, 2020, in the early days of the pandemic.He projected that that "digital certificates" would one day be used to identify who had recovered from the coronavirus, and who had been vaccinated. The reality of today's COVID passports is not far from this prediction.His words were distorted by those who claimed they were evidence of a secret plan to monitor and control people, and gained currency from there. But the conspiracy theory has older and deeper roots, experts have told Insider.A network of right-wing Christian activists and preachers helped seed fears that public-health measures would one day be used as part of a plot to secretly monitor people. It meant that there was fertile ground for conspiracy theorists to plant doubts about the vaccines developed during the pandemic. Multiple surveys suggest that Republicans and white evangelicals are among those least willing to get the shot, overlapping with the most receptive audience for the microchip theory.Andrew Whitehead, an expert on the Christian right who teaches at Indiana University, said: "One reason some groups and individuals on the Christian right champion anti-vax views is their skepticism or even outright rejection of science as a trustworthy source of authority."In their view, science competes with the supremacy of Biblicist authority. Not any and all claims of science, though, just those they perceive to be religiously contested or politically motivated. Vaccines, and especially the COVID-19 vaccine, is in this realm."Vaccines and the 'The Mark of the Beast'Peter Montgomery, a senior researcher at People for the American Way, has for decades monitored right-wing Christian groups and their connections with the Republican Party.He said that many on the Christian right believe that humanity is living through the end of days.They see in public health measures such as vaccine passports evidence of the "Mark of the Beast", proof of widespread allegiance to Satan that predicts the apocalypse in the Bible. Mat Staver in 2015. AP Photo/Timothy D. Easley, File "For many evangelicals who believe that we are living in the 'End Times', there's a strain of rhetoric and thinking out there about the vaccine and the idea of vaccine passports or businesses requiring people to be vaccinated," he said."They connect it all to the 'Mark of the Beast.'" An implanted microchip, on these lines of thinking, would be the ultimate example of such a mark. It's a claim that he sees echoed in the rhetoric of Republican lawmakers who have opposed public-health measures.Rep. Marjorie Taylor Greene in a video in March described Biden administration plans for a vaccine passport as "The Mark of the Beast."-Right Wing Watch (@RightWingWatch) March 30, 2021As far back as a decade ago, Staver's Liberty Counsel, which provides legal support for those challenging federal laws on religious grounds, was drawing links between vaccines and microchip plots.A Liberty Counsel attorney at a public event as far back as 2010 claimed that the Obama administration's swine flu (H1N1) vaccine could be part of a plot to implant microchips.According to Montgomery, the student of the Christian right, the statement was a typical variant of the conspiracy theory that had circulated among right-wing evangelicals, which went on to be cited by preachers at pulpits, on radio shows, and on TV.It emerged again during the pandemic, where it found a vast new audience. Staver, he said, had been among the most prominent opponents of vaccines and other public-health measures as the coronavirus swept the US. In April, Staver appeared on an evangelical podcast to claim that vaccines are part of a plot to "force the submission to the experimental gene therapy," an allusion to a conspiracy theory claiming the vaccines tamper with DNA.A month later he was on the Voice of Christian Youth America radio station, where on its "CrossTalk" program, he claimed, groundlessly, that pregnant women are having miscarriages by being near vaccinated people. Other right-wing Christians have also helped spread the microchips conspiracy theory.An investigation in July by The Verge found that an online sermon by Baptist pastor Adam Fannin played a role in popularizing the theory in the early days of the pandemic. And deep links between the right-wing evangelical movement and the QAnon conspiracy theory movement had also helped boost anti-vaccine conspiracy theories, said Joe Ondrak, head of investigations at LogicallyAI, a UK-based company that uses AI to track disinformation."The 'Mark of the Beast' gets heavily folded into QAnon conspiracy theories as well,' he said, noting that that both movements involve the belief that Satanic elites are plotting against ordinary Americans. Staver in an emailed reply to questions from Insider denied believing that vaccines are used to implant microchips. "This is false. That is not my opinion," he said. On the issue of whether the vaccines cause infertility, he said that "it is unknown whether they cause infertility since this issue was not part of the clinical trials and the data will not be available for some time."The CDC has said there is no evidence that the vaccines harm fertility, and a growing body of evidence that they do not.The agency initially limited it advice on taking the vaccine while pregnant, but in August 2021 updated its position to unambiguously recommend it, citing new data.Staver went on to argue that there were many credible reports of adverse reactions to the vaccines. "We speak with many healthcare workers and doctors to learn about what they are seeing in addition to the data," he said, without giving any specifics."Of course not everyone has adverse events, but the adverse events cannot be ignored and must be investigated rather than merely discounting them."Adverse effects are already subject to monitoring like that described by Staver.The CDC noted that it, the FDA, and other agencies are monitoring such events. On occasion it has acted on them, prompting policies like the pause in the Johnson & Johnson vaccine rollout in April, which was lifted after 11 days.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Civilized founders pushed out

Welcome to Insider Cannabis, where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar cannabis boom. As the legal cannabis market grows in the US, there are many ways for investors to gain exposure to the industry. Bloomberg Creative/Getty Images Welcome to Insider Cannabis, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global cannabis boom.Sign up here to get it in your inbox every week.Hello everyone,In some respects, the fight over how to legalize cannabis is a microcosm of larger social debates, pitting social justice activists against more free-market-oriented folks. Take the debate this week over the SAFE Banking Act. The cannabis banking bill passed the House for the fifth time last night. This go-around, language from the bill - which would open up the banking system to cannabis companies and allow consumers to pay with credit cards - was shoehorned into the National Defense Authorization Act.The NDAA usually passes the Senate without much fanfare. But Senate Majority Leader Chuck Schumer, Sen. Ron Wyden, and Sen. Cory Booker have their own more comprehensive cannabis bill, The Cannabis Opportunity and Administration Act. Booker has said that he opposes adding cannabis banking protections to the Senate's version of the NDAA ahead of broader criminal justice reforms.It remains to be seen whether SAFE will be included in the Senate's version of the NDAA. Many cannabis activists say that the SAFE Act would only help banks and large cannabis companies make more money in the industry. They'd rather see full-scale legalization or at least record expungement and other criminal and social justice measures passed first.But supporters of the SAFE Act say it's a necessary tool to help protect and grow small businesses since many social equity license holders are unable to get loans or open lines of credit to start their businesses, and that dealing in all cash is a safety risk. In other news, Amazon doubled down on its support for cannabis legalization and said it was lobbying the federal government for legalization. Aurora Cannabis closed a major facility and cut around 8% of its workforce. The company delayed its earnings until next week. Tilray closed its Nanaimo, British Columbia facility as well. California will be adding a cannabis competition to its state fair, where farmers will show off their best buds. I'll be moderating a panel about the New York cannabis opportunity at the Prohibition Partners x Business of Cannabis conference in New York City on Wednesday, September 29. I'm looking forward to seeing many of you in person, and let me know if you'll be around. - Jeremy Berke (@jfberke)If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:Investors are pushing out the founders of troubled cannabis startup Civilized. We got ahold of the full memo.Investors are pushing Civilized founders Derek and Terri Riedle out of the company, according to a memo circulated among investors on Monday and obtained by Insider. The investors say the founders, Derek and Terri Riedle, saddled the company with debt.A startup accelerator that's worked with J&J and L'Oréal is getting into psychedelics as the industry goes mainstreamA new accelerator program is targeting early-stage ancillary startups focused on psychedelics, in the latest sign that psychedelics are entering the mainstream and that funding dollars are trailing closely behind. The House just passed cannabis reforms as part of a defense bill. Here's what would change for businesses and their customers.The US House of Representatives has passed the Secure and Fair Enforcement Banking Act, or SAFE Banking Act, yet again.Lawmakers tucked the cannabis banking bill into the National Defense Authorization Act that passed lower chamber on Thursday. It's not clear whether the Senate will include cannabis reforms in its version of the defense package once the upper chamber takes it up. Executive movesNew York Governor Kathy Hochul on Wednesday announced two more appointees - Reuben R. McDaniel, III and Jessica Garcia - to the board of the Office of Cannabis Management, the regulatory body responsible for building out the adult-use cannabis industry in the state. Deals, launches, and IPOsCannabis tech company Dispense said on Tuesday that it had raised a $2 million seed round led by NextView Ventures and Poseidon Asset Management.Michigan-based cannabis company SKYMINT said on Tuesday that it raised $78 million and acquired 3Fifteen Cannabis. Investors in the round include Tropics LP, an affiliate of Sundial Growers' JV SunStream Bancorp Inc., and Merida Capital Holdings.Christine De La Rosa, the CEO of The People's Ecosystem, is raising a $50 million fund to invest in BIPOC and women-led cannabis businesses. Psychedelics company Delic Holdings Corp said on Monday it would acquire Ketamine Wellness Centers Inc, increasing its footprint to 12 clinic locations across the US, in a $5 million cash-and-stock deal. Crain Communications is acquiring cannabis financial media site Green Market Report. The terms of the deal were not disclosed. Marijuana activists hold up a 51-foot inflatable joint during a rally at the U.S. Capitol to call on Congress pass cannabis reform legislation on Tuesday, Oct. 8, 2019. Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images Policy movesThe House of Representatives on Thursday passed the SAFE Banking Act, a cannabis banking bill, as part of the National Defense Authorization Act. It's not clear whether the Senate will include cannabis reforms in its version of the defense package once the upper chamber takes it up. Italy is expected to hold a referendum on legalizing cannabis early next year after organizers gathered the 500,000 signatures within a week, reports Reuters. Research and dataA new report from the nonprofit Economic Policy Institute found that unionized cannabis workers could make $8,690 more per year than non-unionized peers. Psychedelics company Atai Life Sciences said on Tuesday that its platform company DemeRx has started its early-stage clinical trials of ibogaine to treat opioid use disorder.Cannabis data firm BDSA says in a report that cannabis sales will hit $31 billion this year, a 41% increase over last year. By 2026, BDSA expects cannabis sales to exceed $62 billion. EarningsMedMen reported its Q4 and FY21 results on Thursday. The company reported $42 million in revenue and a net loss of $46 million in Q4. For the full year, the company reported $145 million in revenue and a net loss of $157.6 million. What we're reading Why Amazon wants to make sure everyone knows it's totally cool with smoking pot now (Insider)Lawyers, race and money: Illinois' messy weed experiment (Politico)'Millions of pounds' of legal marijuana diverted to underground market, California lawsuit alleges (MJ Biz Daily)Getting high before exercise is the secret to sticking with a fitness routine, some athletes say (Insider)Illegal marijuana farms take West's water in 'blatant theft' (Associated Press)Marijuana banking sponsor discusses path through Senate after House approves reform for fifth time (Marijuana Moment)Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Third Straight Day of Gains for S&P, Dow

Third Straight Day of Gains for S&P, Dow SPECIAL ALERT: Remember, we need your input to make next week’s new Zacks Ultimate Strategy Session episode the best it can be. There are two ways you can participate: 1) Zacks Mailbag: In this regular segment, Kevin Matras answers your questions ranging from current market conditions, general investing wisdom, usage of the Zacks Rank or any resources of Zacks.com and more. Pretty much anything goes.   2) Portfolio Makeover: David Bartosiak and Daniel Laboe review a customer portfolio to give feedback for improvement. No need to send us personal information such as dollar value of holdings. Simply email us with all of the tickers you own. Just make sure to email your submissions for either one, or both, by Thursday morning, February 4. Email now to mailbag@zacks.com. After two days of sharp gains to begin February, stocks sold off into Wednesday’s close and ended only slightly changed. However, two of the major indices still managed a third straight day in the green. But here’s the interested thing: The NASDAQ wasn't one of the indices that rose today! It slipped 0.02% (or a little over 2 points) to 13,610.54, which means it held onto practically all of the 4%+ advance over the previous two sessions. Nevertheless, it's the first time since January 6 that the NASDAQ declined while the other major indices advanced, which shows the dominance of tech here in the early days of 2021. Meanwhile, the Dow rose 0.12% (or about 36 points) to 30,723.60, while the S&P advanced 0.10% to 3830.17. That’s three straight days of gains for the indices, though they’re still trying to make up for last week’s more than 3% plunge. Alphabet (GOOG) and Amazon (AMZN) announced better-than-expected quarterly results after yesterday’s close. The market has been pretty stingy about rewarding strong reports this earnings season, but GOOG managed to gain more than 7% on Wednesday. On the other hand though, AMZN was down 2% despite soaring past $100 billion in revenue for the first time in a single quarter. Perhaps investors are a bit uneasy with Jeff Bezos stepping down as CEO in the third quarter to become an executive chairman. We got some really good news from ADP today, which said that private payrolls added 174,000 jobs in January. Not only was the total three times better than expectations, but it reversed the previous month’s nearly 80K-job loss (revised from the original tally of more than 120K). It’s a welcomed headline for an economy hoping to stay positive while waiting for more stimulus and the vaccines to take hold. Of course, the bigger impact will be felt by Friday’s Employment Situation report. You probably remember that the last number was far below expectations with the economy losing more than 100K jobs. The squeeze craze continued cool off on Wednesday, along with investor fears of a looming pullback. GameStop (GME) rose 2.68% and AMC Entertainment (AMC) advanced 14.7%, which would be a lot under normal circumstances but pales in comparison to the triple-digit bonanzas from last week.  Today's Portfolio Highlights: Home Run Investor: It looks like Cambium Networks (CMBM) may have topped out after two months in the portfolio. However, the company gained 29.4% in that time, so Brian sold the name and took the profit on Wednesday. The new buy is Option Care Health (OPCH), a Zacks Rank #2 (Buy) outpatient/home healthcare name that the editor thinks is all set to push past its 52-week high. The company only earned a penny per share in its most recent report, but that was 125% better than the Zacks Consensus Estimate for a four-cent loss. Brian loves to see swings back into profitability, which is also happening with annual earnings estimates as 2021 is now expected at a profit of 40 cents compared to 2020’s expected loss of eight cents. The editor wants to be in OPCH before its margin profile flips to the positive as well, which should happen this year. Read the full write-up for a lot more on today’s moves.   Surprise Trader: It’s been a little while since “something fun like a tech stock” caught Dave’s attention, but it finally happened on Wednesday with Vishay Intertechnology (VSH). This Zacks Rank #2 (Buy) is a global manufacturer and supplier of semiconductors and passive components. The stock has beaten the Zacks Consensus Estimate in each of the last three quarters, and seems poised to do it again before the bell on Tuesday, February 9. VSH has a positive Earnings ESP of 4.82% for the upcoming report. The editor added the stock today with an 11.5% allocation, while also getting out of the disappointing Kennametal (KMT) position. Read the full write-up for more on today’s moves. Elsewhere, the portfolio had a "nice win" on Wednesday when Triumph Group (TGI) jumped 13.2% after solid third-quarter results. Healthcare Innovators: One of the things all approved covid vaccines have in common is that they’re shots. Actually, you’ve got to take more than one shot! Nobody likes shots. So it was good news to hear that Vaxart (VXRT) announced encouraging results for its oral covid tablet vaccine. This company is a clinical-stage biotech that develops a range of oral recombinant vaccines based on its proprietary delivery platform. Kevin added VXRT on Wednesday, though warns that it has only passed Phase 1 data and hasn’t been scrutinized by the scientific community yet. Read his complete commentary for all the news on this new data and to find out when you should buy. In other news, this portfolio had a top performer today as Anavex Life Sciences (AVXL) advanced 37.9%. Have a Good Evening, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Larimar Therapeutics reports phase1 clinical trial data on CTI-1601 for

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallMay 11th, 2021

Panbela reports partial clinical hold lifted on Phase 1 study of SBP-101

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallApr 15th, 2021

Histogen reports removal of clinical hold by FDA for HST-003 IND

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallMar 15th, 2021

Here"s why you"re having trouble finding work - or workers - during the labor shortage, economists say

Haven't returned to work yet? You're not alone. Five economists broke down for Insider why people aren't rushing back into the work force. A "Help Wanted" sign hangs in the window of a restaurant in the Greenwich Village neighborhood of Manhattan in New York, Tuesday, May 4, 2021 AP Photo/Mary Altaffer Anecdotes about labor shortages have been popping up for months amidst America's slow recovery. But enhanced unemployment has expired and it hasn't helped end end the labor crunch. Insider spoke to five economists and experts about why workers aren't coming back, and the issues with hiring. See more stories on Insider's business page. America is tired of labor shortages. September was supposed to be the silver bullet month when the end of enhanced unemployment benefits coincided with schools and other childcare services reopening and vaccination rates facilitating a return to office. But if you're not back at work, you're far from the only one.That's because the reality of September could perhaps be summarized in two words: Womp womp. There's another two words, nearly as fearsome: The month told a "Delta story," according to Jesse Wheeler, an economic analyst at Morning Consult."We're still expecting this improvement in jobs and continued economic recovery in the future, but it's basically just on hold," Wheeler said.So if you haven't returned to work yet, or are mulling whether a return to work is the right move right now, you're not alone. In a note released this week, JPMorgan found that just half of the people who lost jobs during COVID are going back to work.As Bloomberg reports, unemployment benefits winding down didn't compel people back into the workforce, echoing several studies showing no connection. Schools are contending with Delta waves and temporarily shuttering. Childcare is facing its own labor shortage, turning away families who need care. Vaccinations are up, but mass vaccine mandates for businesses only recently become a reality."I don't see evidence that the slowing of growth had to do with labor shortages. It had to do with Delta," Heidi Shierholz, the president of the left-leaning Economic Policy Institute, told Insider. She added: "Employers really were demanding a lot fewer people in August than they had in the prior month."Insider spoke to five economists and experts about the current messy state of the labor market, and why it makes sense some people haven't returned yet. At the heart of the current labor crunch are major disconnects - what economists call "mismatches" - between what employers want and the people who could fill those roles. Some have moved out of areas where there's need; others have higher expectations for work. But employers are responsible for another mismatch: They say they're scrambling to find workers but they're not willing to pay the price labor is demanding right now. Hiring is a messAs Vox's Rani Molla and Emily Stewart report, the hiring system is a little bit broken too. The current labor market has an "incongruity" between what job seekers are hearing about the abundance of roles, and their actual experiences, according to Vox. It might be a fourth more subtle mismatch.For one, The Wall Street Journal reports that some applicants may be filtered out by the hiring software many employers have adopted. If your resume doesn't have the exact keyword, or, like many workers, you're trying to switch into a related role, you may not even make it past the initial screening.One criterion that employers are filtering by: Whether applicants have a college degree. That could leave out the 70 million workers who are "STARs" - Skilled Through Alternative Routes, according to Papia Debroy, the senior vice president of insights at Opportunity@Work. According to the Census Bureau, two-thirds of American workers don't have a bachelor's degree, with that percentage coming in higher for Black and Hispanic workers.Debroy said that STARs have been increasingly locked out of middle wage jobs in the past decades - roles that are crucial for them to move up the ladder."In many respects, not recognizing that skills are being gained through alternative routes is not just failing these workers. It's failing employers from finding the talent they're looking for, but also it's preventing further mobility for this population," Debroy said. Erica Groshen, senior economics advisor at the Cornell University School of Industrial and Labor Relations and the former commissioner of the Bureau of Labor Statistics, told Insider that employers may not be working rapidly to actually fill the record number of job openings."They may say, 'Well, we have an opening and we have it listed,' but they may not be rushing to fill it if they're not sure how the pandemic is playing out in their area," Groshen said. "So they may leave the posting up, but not be rushing."There's still the pandemic to consider In July, Morning Consult found that 3.5 million of the people who left the labor force were planning on returning to work in the next year; two-thirds wanted to start working again within three months."However, a few months later, a lot of those people have put it on hold," Morning Consult's Wheeler said. The intelligence firm's September outlook found that consumer sentiment in August reached its lowest levels since February 2021.That's because taking a job right now still faces all of the calculations of the health risks and childcare considerations of the pandemic, which many assumed would have been resolved by now. It's what Shierholz calls "baby echoes" of the early days of the pandemic. There is, of course, something we have now that we didn't at the start of the pandemic: Vaccines. But, as Insider's Aylin Woodward reports, the US has fallen behind in vaccination rates, ranking 39th in the world. "In places where the pandemic is still hitting a lot of people with low vaccination rates, that might still be keeping some people home," Brian Riedl, a budget expert at the right-leaning Manhattan Institute, told Insider. "The states that are relatively unvaccinated and seeing more Delta variant cases still may see a lag." As President Joe Biden continues to ramp up vaccination efforts and the Delta wave subsides, people might return more. JPMorgan anticipates that 2 million Americans "will continue to drift back into employment," especially as their pandemic savings dwindle.In the meantime, businesses have turned toward one method to make the return pay off for workers: Raising wages. "There's always somebody talking about there being a labor shortage, and yet in a free market economy, the price is supposed to make the adjustments so that the quantity demanded will meet the quantity supplied," Groshen said. "What they're really saying is that I'm not offering enough to get the workers I need."Anecdotally, it seems to be working. The New York Times reported that Jason Hammel, a chef in Chicago, raised base pay to $18 to $24 per hour; he said he hasn't had issues hiring. But some restaurants have raised wages and still haven't seen applicants flooding in, Insider's Grace Dean reported. Groshen said that offering more doesn't just encompass wages - it's working conditions and benefits, too. "If I decide that I don't want to pay the price of an Audi, I don't get to just announce that there's an Audi shortage and this needs government intervention," Groshen said.Joseph Zeballos-Roig contributed reporting.Read the original article on Business Insider.....»»

Category: worldSource: nyt19 hr. 40 min. ago

Welcome To The Central Bank Hotel, Once Inside You Can Never Leave

Welcome To The Central Bank Hotel, Once Inside You Can Never Leave Authored by Mike Shedlock via MishTalk.com, Central bank digital currencies are on the way. The German Central Bank just embraced a digital euro. Let's discuss the risks... Fintech and Global Payments  Jens Weidmann, president of the Bundesbank, Germany's central bank gave the opening speech at the digital conference “Fintech and the global payments landscape – exploring new horizons” Exploring a Digital Euro The title of Weidmann speech was Exploring a Digital Euro.  Emphasis mine with my thoughts in braces [ ] Paper money, for instance, was first introduced in China about a thousand years ago. This innovation eventually transformed the payments system. Today, digitalisation is on the cusp of overhauling payments. Central banks have to work out how to respond to this challenge. One possibility is the issuing of central bank digital currencies (CBDCs). According to a survey by the Bank for International Settlements (BIS), the share of central banks conducting work on CBDC for general or wholesale use rose to 86% last year. Many of them have made significant progress. Two months ago, the Eurosystem launched a project to investigate key questions regarding the design of a CBDC for the euro area. The aim of the investigation is to prepare us for the potential launch of a digital euro. Experiments have already shown that, in principle, a digital euro is feasible using existing technologies. As my ECB colleague Fabio Panetta has stressed, a digital euro would have “no liquidity risk, no credit risk, no market risk,” in this way resembling cash. [No Risk? Really]  The protection of privacy would thus be a key priority in terms of maintaining people’s trust. European data protection rules would have to be complied with. Nevertheless, a digital euro would not be as anonymous as cash. In order to prevent illicit activities such as money laundering or terrorist financing, legitimate authorities would have to be able to trace transactions in individual, justified cases. [Every Case] But designing CBDC involves curbing its risks. In order to prevent excessive withdrawals of bank deposits, it has been suggested that a cap be placed on the amount of digital euro that each individual can hold. Or that digital euro holdings in excess of a certain limit could be rendered unattractive by applying a penalty interest rate. [No Risk? I thought you said there was no risk.] If a digital euro were accessible for non-residents, this could impact on capital flows and euro exchange rates. What this calls for is international and multilateral collaboration. [Wait a second, is this another risk?] Self-reinforcing loops and “lock-in” effects may tie users to one platform and exclude competitors. Some observers have been reminded of “Hotel California”, the famous song by the American rock band “The Eagles”: it’s such a lovely place, with plenty of room; but once inside you can never leave. [Hotel Central Bank: Once inside you can never leave.] The Eurosystem has no commercial interest in user data or behaviour. A digital euro could therefore help to safeguard what has always been the essence of money: trust. [Ah yes, trust that interest rates won't go even more negative, money won't expire, and withdrawals won't be capped]. Central banks need to be at the cutting edge of technology. Otherwise, they cannot provide the backbone of payment systems and offer safe and trusted money for the digital age. This has prompted all major central banks to start exploring issuance of CBDC. However, our success as a money creator will depend not so much on speed, but on the trust of those who are supposed to use the money. Europe Moving Ahead It appears Europe is moving ahead faster than the Fed.  The risks are obvious. Expiring Money Increasingly Negative Interest Rates Withdrawals Capped Withdrawals Taxed  Gifts Taxed And once inside you can never leave.  Livin' it up at the Hotel Fedifornia has a nice ring to it. ECBifornia isn't as catchy.  * * * Like these reports? If so, please Subscribe to MishTalk Email Alerts. Tyler Durden Sat, 09/25/2021 - 13:00.....»»

Category: blogSource: zerohedgeSep 25th, 2021

"Immunity As A Service" - The Snake-Oil Salesmen & The COVID-Zero Con

"Immunity As A Service" - The Snake-Oil Salesmen & The COVID-Zero Con Authored by Julius Ruechel via Julius Ruechel.com, The Snake-Oil Salesmen and the COVID-Zero Con: A Classic Bait-And-Switch for a Lifetime of Booster Shots (Immunity as a Service) If a plumber with a lifetime of experience were to tell you that water runs uphill, you would know he is lying and that the lie is not accidental. It is a lie with a purpose. If you can also demonstrate that the plumber knows in advance that the product he is promoting with that lie is snake oil, you have evidence for a deliberate con. And once you understand what's really inside that bottle of snake oil, you will begin to understand the purpose of the con. One of the most common reasons given for mass COVID vaccinations is the idea that if we reach herd immunity through vaccination, we can starve the virus out of existence and get our lives back. It's the COVID-Zero strategy or some variant of it. By now it is abundantly clear from the epidemiological data that the vaccinated are able to both catch and spread the disease. Clearly vaccination isn't going to make this virus disappear. Only a mind that has lost its grasp on reality can fail to see how ridiculous all this has become.  But a tour through pre-COVID science demonstrates that, from day one, long before you and I had even heard of this virus, it was 100% inevitable and 100% predictable that these vaccines would never be capable of eradicating this coronavirus and would never lead to any kind of lasting herd immunity. Even worse, lockdowns and mass vaccination have created a dangerous set of circumstances that interferes with our immune system's ability to protect us against other respiratory viruses. They also risk driving the evolution of this virus towards mutations that are more dangerous to both the vaccinated and the unvaccinated alike. Lockdowns, mass vaccinations, and mass booster shots were never capable of delivering on any of the promises that were made to the public.  And yet, vaccination has been successfully used to control measles and even to eradicate smallpox. So, why not COVID? Immunity is immunity, and a virus is a virus is a virus, right? Wrong! Reality is far more complicated... and more interesting. This Deep Dive exposes why, from day one, the promise of COVID-Zero can only ever have been a deliberately dishonest shell game designed to prey on a lack of public understanding of how our immune systems work and on how most respiratory viruses differ from other viruses that we routinely vaccinate against. We have been sold a fantasy designed to rope us into a pharmaceutical dependency as a deceitful trade-off for access to our lives. Variant by variant. For as long as the public is willing to go along for the ride.  Exposing this story does not require incriminating emails or whistleblower testimony. The story tells itself by diving into the long-established science that every single virologist, immunologist, evolutionary biologist, vaccine developer, and public health official had access to long before COVID began. As is so often the case, the devil is hidden in the details. As this story unfolds it will become clear that the one-two punch of lockdowns and the promise of vaccines as an exit strategy began as a cynical marketing ploy to coerce us into a never-ending regimen of annual booster shots intentionally designed to replace the natural "antivirus security updates" against respiratory viruses that come from hugs and handshakes and from children laughing together at school. We are being played for fools.  This is not to say that there aren't plenty of other opportunists taking advantage of this crisis to pursue other agendas and to tip society into a full-blown police state. One thing quickly morphs into another. But this essay demonstrates that never-ending boosters were the initial motive for this global social-engineering shell game ― the subscription-based business model, adapted for the pharmaceutical industry. "Immunity as a service".  So, let's dive into the fascinating world of immune systems, viruses, and vaccines, layer by layer, to dispel the myths and false expectations that have been created by deceitful public health officials, pharmaceutical lobbyists, and media manipulators. What emerges as the lies are peeled apart is both surprising and more than a little alarming. “Once you eliminate the impossible, whatever remains, no matter how improbable, must be the truth.” - Sherlock Homes”  - Sir Arthur Conan Doyle Table of Contents:     Viral Reservoirs: The Fantasy of Eradication     SARS: The Exception to the Rule?     Fast Mutations: The Fantasy of Control through Herd Immunity     Blind Faith in Central Planning: The Fantasy of Timely Doses     Spiked: The Fantasy of Preventing Infection     Antibodies, B-Cells, and T-Cells: Why Immunity to Respiratory Viruses Fades So Quickly     Manufacturing Dangerous Variants: Virus Mutations Under Lockdown Conditions — Lessons from the 1918 Spanish Flu     Leaky Vaccines, Antibody-Dependent Enhancement, and the Marek Effect     Anti-Virus Security Updates: Cross-Reactive Immunity Through Repeated Exposure     The Not-So-Novel Novel Virus: The Diamond Princess Cruise Ship Outbreak Proved We Have Cross-Reactive Immunity     Mother Knows Best: Vitamin D, Playing in Puddles, and Sweaters     The Paradox: Why COVID-Zero Makes People More Vulnerable to Other Viruses     Introducing Immunity as a Service - A Subscription-Based Business Model for the Pharmaceutical Industry (It was always about the money!)     The Path Forward: Neutralizing the Threat and Bullet-Proofing Society to Prevent This Ever Happening Again. *  *  * Viral Reservoirs: The Fantasy of Eradication Eradication of a killer virus sounds like a noble goal. In some cases it is, such as in the case of the smallpox virus. By 1980 we stopped vaccinating against smallpox because, thanks to widespread immunization, we starved the virus of available hosts for so long that it died out. No-one will need to risk their life on the side effects of a smallpox vaccination ever again because the virus is gone. It is a public health success story. Polio will hopefully be next ― we're getting close.  But smallpox is one of only two viruses (along with rinderpest) that have been eradicated thanks to vaccination. Very few diseases meet the necessary criteria. Eradication is hard and only appropriate for very specific families of viruses. Smallpox made sense for eradication because it was a uniquely human virus ― there was no animal reservoir. By contrast, most respiratory viruses including SARS-CoV-2 (a.k.a. COVID) come from animal reservoirs: swine, birds, bats, etc. As long as there are bats in caves, birds in ponds, pigs in mud baths, and deer living in forests, respiratory viruses are only controllable through individual immunity, but it is not possible to eradicate them. There will always be a near-identical cousin brewing in the wings. Even the current strain of COVID is already cheerfully jumping onwards across species boundaries. According to both National Geographic and Nature magazine, 40% of wild deer tested positive for COVID antibodies in a study conducted in Michigan, Illinois, New York, and Pennsylvania. It has also been documented in wild mink and has already made the species jump to other captive animals including dogs, cats, otters, leopards, tigers, and gorillas. A lot of viruses are not fussy. They happily adapt to new opportunities. Specialists, like smallpox, eventually go extinct. Generalists, like most respiratory viruses, never run out of hosts to keep the infection cycle going, forever. As long as we share this planet with other animals, it is extremely deceitful to give anyone the impression that we can pursue any scorched earth policy that can put this genie back in the bottle. With an outbreak on this global scale, it was clear that we were always going to have to live with this virus. There are over 200 other endemic respiratory viruses that cause colds and flus, many of which circulate freely between humans and other animals. Now there are 201. They will be with us forever, whether we like it or not. SARS: The Exception to the Rule? This all sounds well and good, but the original SARS virus did disappear, with public health measures like contact tracing and strict quarantine measures taking the credit. However, SARS was the exception to the rule. When it made the species jump to humans, it was so poorly adapted to its new human hosts that it had terrible difficulty spreading. This very poor level of adaptation gave SARS a rather unique combination of properties: SARS was extremely difficult to catch (it was never very contagious) SARS made people extremely sick. SARS did not have pre-symptomatic spread. These three conditions made the SARS outbreak easy to control through contact tracing and through the quarantine of symptomatic individuals. SARS therefore never reached the point where it circulated widely among asymptomatic community members.  By contrast, by January/February of 2020 it was clear from experiences in China, Italy, and the outbreak on the Diamond Princess cruise ship (more on that story later) that the unique combination of conditions that made SARS controllable were not going to be the case with COVID. COVID was quite contagious (its rapid spread showed that COVID was already well adapted to spreading easily among its new human hosts), most people would have mild or no symptoms from COVID (making containment impossible), and that it was spreading by aerosols produced by both symptomatic and pre-symptomatic people (making contact tracing a joke). In other words, it was clear by January/February 2020 that this pandemic would follow the normal rules of a readily transmissible respiratory epidemic, which cannot be reined in the way SARS was. Thus, by January/February of 2020, giving the public the impression that the SARS experience could be replicated for COVID was a deliberate lie - this genie was never going back inside the bottle. Fast Mutations: The Fantasy of Control through Herd Immunity Once a reasonably contagious respiratory virus begins circulating widely in a community, herd immunity can never be maintained for very long. RNA respiratory viruses (such as influenza viruses, respiratory syncytial virus (RSV), rhinoviruses, and coronaviruses) all mutate extremely fast compared to viruses like smallpox, measles, or polio. Understanding the difference between something like measles and a virus like COVID is key to understanding the con that is being perpetrated by our health institutions. Bear with me here, I promise not to get too technical. All viruses survive by creating copies of themselves. And there are always a lot of "imperfect copies" — mutations — produced by the copying process itself. Among RNA respiratory viruses these mutations stack up so quickly that there is rapid genetic drift, which continually produces new strains. Variants are normal. Variants are expected. Variants make it virtually impossible to build the impenetrable wall of long-lasting herd immunity required to starve these respiratory viruses out of existence. That's one of several reasons why flu vaccines don't provide long-lasting immunity and have to be repeated annually ― our immune system constantly needs to be updated to keep pace with the inevitable evolution of countless unnamed "variants."  This never-ending conveyor belt of mutations means that everyone's immunity to COVID was always only going to be temporary and only offer partial cross-reactive protection against future re-infections. Thus, from day one, COVID vaccination was always doomed to the same fate as the flu vaccine ― a lifelong regimen of annual booster shots to try to keep pace with "variants" for those unwilling to expose themselves to the risk of a natural infection. And the hope that by the time the vaccines (and their booster shots) roll off the production line, they won't already be out of date when confronted by the current generation of virus mutations.  Genetic drift caused by mutations is much slower in viruses like measles, polio, or smallpox, which is why herd immunity can be used to control these other viruses (or even eradicate them as in the case of smallpox or polio). The reason the common respiratory viruses have such rapid genetic drift compared to these other viruses has much less to do with how many errors are produced during the copying process and much more to do with how many of those "imperfect" copies are actually able to survive and produce more copies.  A simple virus with an uncomplicated attack strategy for taking over host cells can tolerate a lot more mutations than a complex virus with a complicated attack strategy. Complexity and specialization put limits on how many of those imperfect copies have a chance at becoming successful mutations. Simple machinery doesn't break down as easily if there is an imperfection in the mechanical parts. Complicated high-tech machinery will simply not work if there are even minor flaws in precision parts. For example, before a virus can hijack the DNA of a host cell to begin making copies of itself, the virus needs to unlock the cell wall to gain entry. Cellular walls are made of proteins and are coated by sugars; viruses need to find a way to create a doorway through that protein wall. A virus like influenza uses a very simple strategy to get inside ― it locks onto one of the sugars on the outside of the cell wall in order to piggyback a ride as the sugar is absorbed into the cell (cells use sugar as their energy source). It's such a simple strategy that it allows the influenza virus to go through lots of mutations without losing its ability to gain entry to the cell. Influenza's simplicity makes it very adaptable and allows many different types of mutations to thrive as long as they all use the same piggyback entry strategy to get inside host cells. By contrast, something like the measles virus uses a highly specialized and very complicated strategy to gain entry to a host cell. It relies on very specialized surface proteins to break open a doorway into the host cell. It's a very rigid and complex system that doesn't leave a lot of room for errors in the copying process. Even minor mutations to the measles virus will cause changes to its surface proteins, leaving it unable to gain access to a host cell to make more copies of itself. Thus, even if there are lots of mutations, those mutations are almost all evolutionary dead ends, thus preventing genetic drift. That's one of several reasons why both a natural infection and vaccination against measles creates lifetime immunity ― immunity lasts because new variations don't change much over time.  Most RNA respiratory viruses have a high rate of genetic drift because they all rely on relatively simple attack strategies to gain entry to host cells. This allows mutations to stack up quickly without becoming evolutionary dead ends because they avoid the evolutionary trap of complexity.  Coronaviruses use a different strategy than influenza to gain access to host cells. They have proteins on the virus surface (the infamous S-spike protein, the same one that is mimicked by the vaccine injection), which latches onto a receptor on the cell surface (the ACE2 receptor) ― a kind of key to unlock the door. This attack strategy is a little bit more complicated than the system used by influenza, which is probably why genetic drift in coronaviruses is slightly slower than in influenza, but it is still a much much simpler and much less specialized system than the one used by measles. Coronaviruses, like other respiratory viruses, are therefore constantly producing a never-ending conveyor belt of "variants" that make long-lasting herd immunity impossible. Variants are normal. The alarm raised by our public health authorities about "variants" and the feigned compassion of pharmaceutical companies as they rush to develop fresh boosters capable of fighting variants is a charade, much like expressing surprise about the sun rising in the East. Once you got immunity to smallpox, measles, or polio, you had full protection for a few decades and were protected against severe illness or death for the rest of your life. But for fast-mutating respiratory viruses, including coronaviruses, within a few months they are sufficiently different that your previously acquired immunity will only ever offer partial protection against your next exposure. The fast rate of mutation ensures that you never catch the exact same cold or flu twice, just their closely related constantly evolving cousins. What keeps you from feeling the full brunt of each new infection is cross-reactive immunity, which is another part of the story of how you are being conned, which I will come back to shortly.  Blind Faith in Central Planning: The Fantasy of Timely Doses But let's pretend for a moment that a miraculous vaccine could be developed that could give us all 100% sterilizing immunity today. The length of time it takes to manufacture and ship 8 billion doses (and then make vaccination appointments for 8 billion people) ensures that by the time the last person gets their last dose, the never-ending conveyor belt of mutations will have already rendered the vaccine partially ineffective. True sterilizing immunity simply won't ever happen with coronaviruses. The logistics of rolling out vaccines to 8 billion people meant that none of our vaccine makers or public health authorities ever could have genuinely believed that vaccines would create lasting herd immunity against COVID. So, for a multitude of reasons, it was a deliberate lie to give the public the impression that if enough people take the vaccine, it would create lasting herd immunity. It was 100% certain, from day one, that by the time the last dose is administered, the rapid evolution of the virus would ensure that it would already be time to start thinking about booster shots. Exactly like the flu shot. Exactly the opposite of a measles vaccine. Vaccines against respiratory viruses can never provide anything more than a temporary cross-reactive immunity "update" ― they are merely a synthetic replacement for your annual natural exposure to the smorgasbord of cold and flu viruses. Immunity as a service, imposed on society by trickery. The only question was always, how long between booster shots? Weeks, months, years?  Feeling conned yet? Spiked: The Fantasy of Preventing Infection The current crop of COVID vaccines was never designed to provide sterilizing immunity - that's not how they work. They are merely a tool designed to teach the immune system to attack the S-spike protein, thereby priming the immune system to reduce the severity of infection in preparation for your inevitable future encounter with the real virus. They were never capable of preventing infection, nor of preventing spread. They were merely designed to reduce your chance of being hospitalized or dying if you are infected. As former FDA commissioner Scott Gottlieb, who is on Pfizer’s board, said: "the original premise behind these vaccines were [sic] that they would substantially reduce the risk of death and severe disease and hospitalization. And that was the data that came out of the initial clinical trials.” Every first-year medical student knows that you cannot get herd immunity from a vaccine that does not stop infection.  In other words, by their design, these vaccines can neither stop you from catching an infection nor stop you from transmitting the infection to someone else. They were never capable of creating herd immunity. They were designed to protect individuals against severe outcomes if they choose to take them - a tool to provide temporary focused protection for the vulnerable, just like the flu vaccine. Pushing for mass vaccination was a con from day one. And the idea of using vaccine passports to separate the vaccinated from the unvaccinated was also a con from day one. The only impact these vaccine passports have on the pandemic is as a coercive tool to get you to roll up your sleeve. Nothing more. Antibodies, B-Cells, and T-Cells: Why Immunity to Respiratory Viruses Fades So Quickly There are multiple interconnected parts to why immunity to COVID, or any other respiratory virus, is always only temporary. Not only is the virus constantly mutating but immunity itself fades over time, not unlike the way our brains start forgetting how to do complicated math problems unless they keep practicing. This is true for both immunity acquired through natural infection and immunity acquired through vaccination. Our immune systems have a kind of immunological memory ― basically, how long does your immune system remember how to launch an attack against a specific kind of threat. That memory fades over time. For some vaccines, like diphtheria and tetanus, that immunological memory fades very slowly. The measles vaccine protects for life. But for others, like the flu vaccine, that immunological memory fades very quickly. On average, the flu vaccine is only about 40% effective to begin with. And it begins to fade almost immediately after vaccination. By about 150 days (5 months), it reaches zero. Fading immunity after flu shot (Science, April 18th, 2019) The solution to this strange phenomenon lies in the different types of immune system responses that are triggered by a vaccine (or by exposure to the real thing through a natural infection). This has big implications for coronavirus vaccines, but I'll get to that in a moment. First a little background information... A good analogy is to think of our immune system like a medieval army. The first layer of protection began with generalists - guys armed with clubs that would take a swing at everything - they were good for keeping robbers and brigands at bay and for conducting small skirmishes. But if the attack was bigger, then these generalists were quickly overwhelmed, serving as arrow fodder to blunt the attack on the more specialized troops coming up behind them. Spearmen, swordsmen, archers, cavalry, catapult operators, siege tower engineers, and so on. Each additional layer of defense has a more expensive kit and takes ever greater amounts of time to train (an English longbowman took years to build up the necessary skill and strength to become effective). The more specialized a troop is, the more you want to hold them back from the fight unless it's absolutely necessary because they are expensive to train, expensive to deploy, and make a bigger mess when they fight that needs to be cleaned up afterwards. Always keep your powder dry. Send in the arrow fodder first and slowly ramp up your efforts from there. Our immune system relies on a similar kind of layered system of defense. In addition to various non-specific rapid response layers that take out the brigands, like natural killer cells, macrophages, mast cells, and so on, we also have many adaptive (specialized) layers of antibodies (i.e. IgA, IgG, IgM immunoglobulin) and various types of highly specialized white blood cells, like B-cells and T-cells. Some antibodies are released by regular B-cells. Others are released by blood plasma. Then there are memory B-cells, which are capable of remembering previous threats and creating new antibodies long after the original antibodies fade away. And there are various types of T-cells (again with various degrees of immunological memory), like natural killer T-cells, killer T-cells, and helper T-cells, all of which play various roles in detecting and neutralizing invaders. In short, the greater the threat, the more troops are called into the fight. This is clearly a gross oversimplification of all the different interconnected parts of our immune system, but the point is that a mild infection doesn't trigger as many layers whereas a severe infection enlists the help of deeper layers, which are slower to respond but are much more specialized in their attack capabilities. And if those deeper adaptive layers get involved, they are capable of retaining a memory of the threat in order to be able to mount a quicker attack if a repeat attack is recognized in the future. That's why someone who was infected by the dangerous Spanish Flu in 1918 might still have measurable T-cell immunity a century later but the mild bout of winter flu you had a couple of years ago might not have triggered T-cell immunity, even though both may have been caused by versions of the same H1N1 influenza virus. As a rule of thumb, the broader the immune response, the longer immunological memory will last. Antibodies fade in a matter of months, whereas B-cell and T-cell immunity can last a lifetime. Another rule of thumb is that a higher viral load puts more strain on your immune defenses, thus overwhelming the rapid response layers and forcing the immune system to enlist the deeper adaptive layers. That's why nursing homes and hospitals are more dangerous places for vulnerable people than backyard barbeques. That's why feedlot cattle are more vulnerable to viral diseases than cattle on pasture. Viral load matters a lot to how easily the generalist layers are overwhelmed and how much effort your immune system has to make to neutralize a threat. Where the infection happens in the body also matters. For example, an infection in the upper respiratory tract triggers much less involvement from your adaptive immune system than when it reaches your lungs. Part of this is because your upper respiratory tract is already heavily preloaded with large numbers of generalist immunological cells that are designed to attack germs as they enter, which is why most colds and flus never make it deeper into the lungs. The guys with the clubs are capable of handling most of the threats that try to make through the gate. Most of the specialized troops hold back unless they are needed. Catching a dangerous disease like measles produces lifetime immunity because an infection triggers all the deep layers that will retain a memory of how to fight off future encounters with the virus. So does the measles vaccine. Catching a cold or mild flu generally does not.  From an evolutionary point of view, this actually makes a lot of sense. Why waste valuable resources developing long-lasting immunity (i.e. training archers and building catapults) to defend against a virus that did not put you in mortal danger. A far better evolutionary strategy is to evolve a narrower generalist immune response to mild infections (i.e. most cold and flu viruses), which fades quickly once the threat is conquered, but invest in deep long-term broad-based immunity to dangerous infections, which lasts a very long time in case that threat is ever spotted on the horizon again. Considering the huge number of threats our immune systems face, this strategy avoids the trap of spreading immunological memory too thin. Our immunological memory resources are not limitless - long-term survival requires prioritizing our immunological resources. The take-home lesson is that vaccines will, at best, only last as long as immunity acquired through natural infection and will often fade much faster because the vaccine is often only able to trigger a partial immune response compared to the actual infection. So, if the disease itself doesn't produce a broad-based immune response leading to long-lasting immunity, neither will the vaccine. And in most cases, immunity acquired through vaccination will begin to fade much sooner than immunity acquired through a natural infection. Every vaccine maker and public health official knows this despite bizarrely claiming that the COVID vaccines (based on re-creating the S-protein spike instead of using a whole virus) would somehow become the exception to the rule. That was a lie, and they knew it from day one. That should set your alarm bells ringing at full throttle. So, with this little bit of background knowledge under our belts, let's look at what our public health officials and vaccine makers would have known in advance about coronaviruses and coronavirus vaccines when they told us back in the early Spring of 2020 that COVID vaccines were the path back to normality. From a 2003 study [my emphasis]: "Until SARS appeared, human coronaviruses were known as the cause of 15–30% of colds... Colds are generally mild, self-limited infections, and significant increases in neutralizing antibody titer are found in nasal secretions and serum after infection. Nevertheless, some unlucky individuals can be reinfected with the same coronavirus soon after recovery and get symptoms again." In other words, the coronaviruses involved in colds (there were four human coronaviruses before SARS, MERS, and COVID) all trigger such a weak immune response that they do not lead to any long-lasting immunity whatsoever. And why would they if, for most of us, the threat is so minimal that the generalists are perfectly capable of neutralizing the attack. We also know that immunity against coronaviruses is not durable in other animals either. As any farmer knows well, cycles of reinfection with coronaviruses are the rule rather than the exception among their livestock (for example, coronaviruses are a common cause of pneumonia and various types of diarrheal diseases like scours, shipping fever, and winter dysentery in cattle). Annual farm vaccination schedules are therefore designed accordingly. The lack of long-term immunity to coronaviruses is well documented in veterinary research among cattle, poultry, deer, water buffalo, etc. Furthermore, although animal coronavirus vaccines have been on the market for many years, it is well known that "none are completely efficacious in animals". So, like the fading flu vaccine profile I showed you earlier, none of the animal coronavirus vaccines are capable of providing sterilizing immunity (none were capable of stopping 100% of infections, without which you can never achieve herd immunity) and the partial immunity they offered is well known to fade rather quickly. What about immunity to COVID's close cousin, the deadly SARS coronavirus, which had an 11% case fatality rate during the 2003 outbreak? From a 2007 study: "SARS-specific antibodies were maintained for an average of 2 years... SARS patients might be susceptible to reinfection >3 years after initial exposure."  (Bear in mind that, as with all diseases, re-infection does not mean you are necessarily going to get full-blown SARS; fading immunity after a natural infection tends to offer at least some level of partial protection against severe outcomes for a considerable amount of time after you can already be reinfected and spread it to others - more on that later.) And what about MERS, the deadliest coronavirus to date, which made the jump from camels in 2012 and had a fatality rate of around 35%? It triggered the broadest immune response (due to its severity) and also appears to trigger the longest lasting immunity as a result (> 6yrs) Thus, to pretend that there was any chance that herd immunity to COVID would be anything but short-lived was dishonest at best. For most people, immunity was always going to fade quickly. Just like what happens after most other respiratory virus infections. By February 2020, the epidemiological data showed clearly that for most people COVID was a mild coronavirus (nowhere near as severe than SARS or MERS), so it was virtually a certainty that even the immunity from a natural infection would fade within months, not years. It was also a certainty that vaccination was therefore, at best, only ever going to provide partial protection and that this protection would be temporary, lasting on the order of months. This is a case of false and misleading advertising if there ever was one. If I can allow my farming roots to shine through for a moment, I'd like to explain the implications of what was known about animal coronaviruses vaccines. Baby calves are often vaccinated against bovine coronaviral diarrhea shortly after birth if they are born in the spring mud and slush season, but not if they are born in midsummer on lush pastures where the risk of infection is lower. Likewise, bovine coronavirus vaccines are used to protect cattle before they face stressful conditions during shipping, in a feedlot, or in winter feed pens. Animal coronavirus vaccines are thus used as tools to provide a temporary boost in immunity, in very specific conditions, and only for very specific vulnerable categories of animals. After everything I've laid out so far in this text, the targeted use of bovine coronavirus vaccines should surprise no-one. Pretending that our human coronavirus vaccines would be different was nonsense.  The only rational reason why the WHO and public health officials would withhold all that contextual information from the public as they rolled out lockdowns and held forth vaccines as an exit strategy was to whip the public into irrational fear in order to be able to make a dishonest case for mass vaccination when they should have, at most, been focused on providing focused vaccination of the most vulnerable only. That deception was the Trojan Horse to introduce endless mass booster shots as immunity inevitably fades and as new variants replace old ones.  Now, as all the inevitable limitations and problems with these vaccines become apparent (i.e. fading of vaccine-induced immunity, vaccines proving to only be partially effective, the rise of new variants, and the vaccinated population demonstrably catching and spreading the virus ― a.k.a. the leaky vaccine phenomenon), the surprise that our health authorities are showing simply isn't credible. As I have shown you, all this was 100% to be expected. They intentionally weaponized fear and false expectations to unleash a fraudulent bait-and-switch racket of global proportions. Immunity on demand, forever. Manufacturing Dangerous Variants: Virus Mutations Under Lockdown Conditions — Lessons from the 1918 Spanish Flu At this point you may be wondering, if there is no lasting immunity from infection or vaccination, then are public health officials right to roll out booster shots to protect us from severe outcomes even if their dishonest methods to get us to accept them were unethical? Do we need a lifetime regimen of booster shots to keep us safe from a beast to which we cannot develop durable long-term immunity? The short answer is no.  Contrary to what you might think, the rapid evolution of RNA respiratory viruses actually has several important benefits for us as their involuntary hosts, which protects us without the benefit of broad lifelong immunity. One of those benefits has to do with the natural evolution of the virus towards less dangerous variants. The other is the cross-reactive immunity that comes from frequent re-exposure to closely related "cousins". I'm going to peel apart both of these topics in order to show you the remarkable system that nature designed to keep us safe... and to show you how the policies being forced on us by our public health authorities are knowingly interfering with this system. They are creating a dangerous situation that increases our risk to other respiratory viruses (not just to COVID) and may even push the COVID virus to evolve to become more dangerous to both the unvaccinated and the vaccinated. There are growing signs that this nightmare scenario has already begun.  “In this present crisis, government is not the solution to our problem; government is the problem."  - President Ronald Reagan in 1981. Let's start with the evolutionary pressures that normally drive viruses towards becoming less dangerous over time. A virus depends on its host to spread it. A lively host is more useful than a bedridden or dead one because a lively host can spread the virus further and will still be around to catch future mutations. Viruses risk becoming evolutionary dead ends if they kill or immobilize their hosts. Plagues came, killed, and then were starved out of existence because their surviving hosts had all acquired herd immunity. Colds come and go every year because their hosts are lively, easily spread the viruses around, and never acquire long-lasting immunity so that last year's hosts can also serve as next year's hosts ― only those who have weak immune systems have much to worry about. In other words, under normal conditions, mutations that are more contagious but less deadly have a survival advantage over less contagious and more deadly variations. From the virus' point of view, the evolutionary golden mean is reached when it can easily infect as many hosts as possible without reducing their mobility and without triggering long-term immunity in most of their hosts. That's the ticket to setting up a sustainable cycle of reinfection, forever. Viruses with slow genetic drift and highly specialized reproductive strategies, like polio or measles, can take centuries or longer to become less deadly and more contagious; some may never reach the relatively harmless status of a cold or mild flu virus (by harmless I mean harmless to the majority of the population despite being extremely dangerous to those with weak or compromised immune systems). But for viruses with fast genetic drift, like respiratory viruses, even a few months can make a dramatic difference. Rapid genetic drift is one of the reasons why the Spanish Flu stopped being a monster disease, but polio and measles haven't. And anyone with training in virology or immunology understands this!  We often speak of evolutionary pressure as though it forces an organism to adapt. In reality, a simple organism like a virus is utterly blind to its environment — all it does is blindly produce genetic copies of itself. "Evolutionary pressure" is actually just a fancy way of saying that environmental conditions will determine which of those millions of copies survives long enough to produce even more copies of itself.  A human adapts to its environment by altering its behaviour (that's one type of adaptation). But the behaviour of a single viral particle never changes. A virus "adapts" over time because some genetic copies with one set of mutations survive and spread faster than other copies with a different set of mutations. Adaptation in viruses has to be seen exclusively through the lens of changes from one generation of virus to the next based on which mutations have a competitive edge over others. And that competitive edge will vary depending on the kinds of environmental conditions a virus encounters. So, fear mongering about the Delta variant being even more contagious leaves out the fact that this is exactly what you would expect as a respiratory virus adapts to its new host species. We would expect new variants to be more contagious but less deadly as the virus fades to become just like the other 200+ respiratory viruses that cause common colds and flus.  That's also why the decision to lock down the healthy population is so sinister. Lockdowns, border closures, and social distancing rules reduced spread among the healthy population, thus creating a situation where mutations produced among the healthy would become sufficiently rare that they might be outnumbered by mutations circulating among the bedridden. Mutations circulating among the healthy are, by definition, going to be the least dangerous mutations since they did not make their hosts s.....»»

Category: blogSource: zerohedgeSep 25th, 2021

Why This 1 Computer and Technology Stock Could Be a Great Addition to Your Portfolio

Finding strong, market-beating stocks with a positive earnings outlook becomes easier with the Focus List, a top feature of the Zacks Premium portfolio service. Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.The Zacks Premium service makes this easier. It features daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All of these can help you quickly identify what stocks to buy, what to sell, and what are today's hottest industries.Also included in Zacks Premium is the Focus List. This is a long-term portfolio of top stocks that have all the traits to beat the market.Breaking Down the Zacks Focus ListIf you could, wouldn't you jump at the chance for access to a curated list of stocks to kickstart your investing journey?That's what the Zacks Focus List, a portfolio of 50 stocks, offers investors. Not only does it serve as a starting point for long-term investors, but all stocks included in the list are poised to outperform the market over the next 12 months.What makes the Focus List even more helpful is that each selection is accompanied by a full Zacks Analyst Report, which explains the reasoning behind every stock's selection and why we believe it's a good pick for the long-term.The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.Brokerage analysts are in charge of determining a company's growth and profitability expectations, or earnings estimates. These analysts work together with company management to evaluate all factors that may affect future earnings, like interest rates, the economy, and sector and industry optimism.What a company will earn down the road also needs to be taken into consideration, and this is why earnings estimate revisions are so important.The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.Utilizing the power of earnings estimate revisions is when the Zacks Rank joins the party. A unique, proprietary stock-rating model, the Zacks Rank uses changes to quarterly earnings expectations to help investors create a winning portfolio.Four primary factors make up the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each is given a raw score that's recalculated every night and compiled into the Rank, and with this data, stocks are then classified into five groups, ranging from "Strong Buy" to "Strong Sell."The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding Focus List stocks, there's a great chance you'll be getting into companies whose future earnings estimates will be raised, which can lead to price momentum.Focus List Spotlight: Square (SQ)Headquartered in San Francisco, CA, Square, Inc. was incorporated in 2015. The company offers financial and marketing services through its comprehensive commerce ecosystem that helps sellers to start, run and grow their businesses.Since being added to the Focus List on March 28, 2017 at $17.25 per share, shares of SQ have increased 1446.2% to $266.72. The stock is currently a #3 (Hold) on the Zacks Rank.For fiscal 2021, 10 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.36 to $1.87. SQ boasts an average earnings surprise of 111.1%.Earnings for SQ are forecasted to see growth of 122.6% for the current fiscal year as well.Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >> Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Square, Inc. (SQ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Why This 1 Computer and Technology Stock Could Be a Great Addition to Your Portfolio

Finding strong, market-beating stocks with a positive earnings outlook becomes easier with the Focus List, a top feature of the Zacks Premium portfolio service. Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.The Zacks Premium service, which provides daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter, makes these more manageable goals. All of the features can help you identify what stocks to buy, what to sell, and what are today's hottest industries.The service also includes the Focus List, which is a long-term portfolio of top stocks that boast a winning, market-beating combination of growth and momentum qualities.Breaking Down the Zacks Focus ListIf you could, wouldn't you jump at the chance for access to a curated list of stocks to kickstart your investing journey?That's what the Zacks Focus List, a portfolio of 50 stocks, offers investors. Not only does it serve as a starting point for long-term investors, but all stocks included in the list are poised to outperform the market over the next 12 months.What makes the Focus List even more helpful is that each selection is accompanied by a full Zacks Analyst Report, which explains the reasoning behind every stock's selection and why we believe it's a good pick for the long-term.The portfolio's past performance only solidifies why investors should consider it as a starting point. For 2020, the Focus List gained 13.85% on an annualized basis compared to the S&P 500's return of 9.38%. Cumulatively, the portfolio has returned 2,519.23% while the S&P returned 854.95%. Returns are for the period of February 1, 1996 to March 31, 2021.Focus List MethodologyWhen stocks are picked for the Focus List, it reflects our enduring reliance on the power of earnings estimate revisions.Brokerage analysts are in charge of determining a company's growth and profitability expectations, or earnings estimates. These analysts work together with company management to evaluate all factors that may affect future earnings, like interest rates, the economy, and sector and industry optimism.Investors also need to look at what a company will earn down the road. This is why earnings estimate revisions are so important.The stocks that receive positive changes to earnings estimates are more likely to receive even more upward changes in the future. Take this example: if an analyst raised their estimates last month, they'll probably do so again this month, and other analysts will follow.Harnessing the power of earnings estimate revisions is where the Zacks Rank comes in. The Zacks Rank is a unique, proprietary stock-rating model that utilizes changes to a company's quarterly earnings expectations to help investors build a winning portfolio.Four primary factors make up the Zacks Rank: Agreement, Magnitude, Upside, and Surprise. Each is given a raw score that's recalculated every night and compiled into the Rank, and with this data, stocks are then classified into five groups, ranging from "Strong Buy" to "Strong Sell."The Focus List is comprised of stocks hand-picked from a long list of #1 (Strong Buy) or #2 (Buy) ranked companies, meaning that each new addition boasts a bullish earnings consensus among analysts.It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding Focus List stocks, there's a great chance you'll be getting into companies whose future earnings estimates will be raised, which can lead to price momentum.Focus List Spotlight: Nvidia (NVDA)NVIDIA Corporation is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence (AI) based solutions that now support high performance computing (HPC), gaming and virtual reality (VR) platforms.On May 20, 2019, NVDA was added to the Focus List at $39.13 per share. Shares have increased 474.55% to $224.82 since then, and the company is a #2 (Buy) on the Zacks Rank.For fiscal 2022, 13 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.23 to $4.20. NVDA boasts an average earnings surprise of 9.6%.Earnings for NVDA are forecasted to see growth of 68% for the current fiscal year as well.Reveal Winning StocksUnlock all of our powerful research, tools and analysis, including the Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. You'll quickly identify which stocks to buy, hold and sell, and target today's hottest industries, to help improve the performance of your portfolio. Gain full access now >> Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. 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Category: topSource: zacksSep 24th, 2021

Of the 4,385 reported incidents of air rage this year, only one person has been criminally charged

Interfering with flight crews is a Federal crime, but criminal charges against unruly passengers have been extremely rare. Flight attendants they have gotten sick less due to pandemic-era cleaning protocols. Kent Nishimura / Los Angeles Times via Getty Images The FAA has received 4,385 reports of unruly passengers and opened 789 investigations this year. Of those, only one case has had criminal charges filed by the Department of Justice. Arline workers told Congress the lack of criminal enforcement puts public safety at risk. See more stories on Insider's business page. In a year with record levels of conflict aboard commercial airlines, the US Federal Aviation Administration has posted some shocking numbers: 4,385 reports of unruly passengers; 789 investigations; 162 enforcement cases; $1.1 million in fines.But there's one number that lags noticeably behind the rest: criminal charges for passengers who have assaulted flight crews or otherwise interfered with their duties.As a civil authority, the FAA cannot criminally charge anyone, so criminal cases in aviation are the purview of the FBI and the Department of Justice.To say there is a hitch in the enforcement process would be an understatement.So far, after thousands of reports and hundreds of in-flight incident investigations this year alone, the only person to be charged is Vyvianna Quinonez, who was filmed in May punching a flight attendant in the face as a Southwest flight approached San Diego.According to a complaint filed earlier this month in US District Court in San Diego, Quinonez was also charged with interfering with flight crew members and attendants. Quinonez reportedly told law enforcement at the time of her arrest that she was acting in self defense.Federal aviation regulations allow the FAA to impose fines of up to $35,000, but the criminal penalties - up to 20 years in prison if convicted of interfering with the operation of an aircraft - require the DOJ to prosecute a case. A DOJ spokesperson did not immediately respond to a request for comment.Sara Nelson, International President of the Association of Flight Attendants, told the House Subcommittee on Aviation that members of her union are frustrated by the lack of meaningful penalties when they try to enforce the rules in the air."We tell them [passengers] that it is a federal offense to not comply with crew member instructions," Nelson quoted one member as saying. "Then the plane is met by airline supervisors or airport law enforcement and the passenger gets a slap on the wrist and sent on their way."Nelson called the numbers "staggering" and predicted that there would be more incidents in 2021 than in the entire history of commercial aviation if trends continue.For its part, the FAA has taken steps to escalate the severity of consequences for bad behavior in-flight under a zero-tolerance policy Administrator Steve Dickson rolled out earlier this year. Under the new policy, counseling and warnings are off the table - all passengers found guilty of unruly behavior will be fined.But getting the criminal side of the equation to work requires even greater coordination of public, private, state, local, and federal departments than has been happening so far. In an open letter to airport leaders, Dickson begged for greater cooperation from local law enforcement to lay the groundwork for cases that the DOJ can use."Every week, we see situations in which law enforcement was asked to meet an aircraft at the gate following an unruly passenger incident," he wrote. "Many of these passengers were interviewed by local police and released without criminal charges of any kind.""When this occurs, we miss a key opportunity to hold unruly passengers accountable for their unacceptable and dangerous behavior," he added.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Rabobank: Yesterday’s "Reflation!” Trade Appears To Be Old-Fashioned Glue-Sniffing

Rabobank: Yesterday’s "Reflation!” Trade Appears To Be Old-Fashioned Glue-Sniffing By Michael Every of Rabobank Re: Reflation As we all know, markets can remain irrational longer than you can stay solvent, and they are encouraged to do so when monetary and fiscal authorities encourage them to sniff solvent. However, yesterday’s “reflation!” trade appears to be old-fashioned glue-sniffing without any help from the central banks or governments. A 13bp leap in US 10-year yields, with a steepening curve, a surge in US stocks, and a dumping of both the US dollar and gold all coincided with the following monetary backdrop: The Fed saying it will be taking away $20bn in QE in tranches by Xmas, and likely hiking 25bp in 2022, before doing 75bp a year from 2023 onwards; the BOE “opening the door” (says Bloomberg) to a rate hike as soon as November - see here from Stefan Koopman; Norway hiking 25bp, the first in the G10 to do so “post”-Covid; the RBNZ suggesting they will follow suite next month; and Reuters quoting 8 ECB governing council members who all appear to be hawkish. Only the PBOC was playing the usual game this week in terms of net liquidity injections. And it was doing that because in the actual economy / fiscal backdrop, the Wall Street Journal reports local governments have been told to prepare for Evergrande to fail. This is taken as bullish by some because it means China is being proactive: then again, so is the firm being “saved” by being broken into three and nationalised, another story doing the rounds, which implies losses for bond and equity holders, and a new economic model. Chinese local governments actually rely on land sales to the likes of Evergrande for 30-40% of their income, so who is going to step in to stop them failing? We know the assumed answer, but do we know the unassumed impact on the exchange rate? It isn’t reflationary – at least outside of China. Likewise, on reflation and failing, in the US there appears no sign of the Democrats being able to find a majority to pass either a stop-gap spending bill, or an increase in the debt ceiling, or the infrastructure bill, or the $3.5 trillion stimulus bill. Indeed, a headline says the US is preparing for a government shutdown. We are used to shutdowns now, but that does not smell reflationary. In the UK, the government is to cut GBP20 a week from the pockets of the very poorest, who are guaranteed to spend, not save it, and hike taxes on everyone else, just as energy prices surge, and shelves threaten to empty of products, including staple foods. The same energy and supply-chain backdrop threatens the EU too; and the US, where we not only have a record 73-ship backlog in LA/LB ports, but the Biden administration is threatening to use the Cold War Defence Act to force firms to release information on their holdings of semiconductors. The aim is to prevent hoarding – but what happens when each firm says “None; none; none; none; none”? This move potentially opens the door for the US to use the same Act to force production home by fiat, upending global trade patterns and shipping – and markets. But will it really be that radical on the current track record? And would that make any difference in the near term anyway given new chip fabs are already breaking ground, but will take years to come on line? It’s everything else, from widgets to thingamajigs that the US needs. As does everyone else, of course. On balance, perhaps it is the central banks and governments / politicians who have their heads in a plastic bag. Not only in thinking now is the time to tighten fiscal and monetary policy, but in their studied inability to understand that the supply-chain issue is the real underlying problem. Looser fiscal policy won’t help unless it is aimed at resolving supply-chain snarls, which is a geoeconomic and geopolitical issue; but tighter fiscal policy also won’t help, while making socioeconomic matters far worse. Likewise, hike rates all you want and it won’t help supply-chains, but it will break lots of other things; but loose monetary policy won’t help either unless it is supporting governments in building more resilient, distributed, and localized supply chains. For all the talk of the new understanding of “fiscal and monetary fusion”, and “Build Back Better”, there is still no sign apparatchiks in central banks or treasury departments / finance ministries understand this fact. They remain collectively irrational long enough for everyone else to become insolvent. There is also a strong odor of adhesive from some banks, as Bloomberg Daybreak says “Therapy, Puppies Ease Bankers Back to the Office”. Therapy – for going back to the office? Puppies?! Lovely – until they grow into big dogs. “Yeah, I will have that price for you in a second…down, Spot!...I am just getting it now…Spot! Down! No, I don’t mean spot is down, sorry. I mean….Spot! Stop biting the other trader!” Or are the puppies abandoned as soon as they are no longer useful - and who cleans up their mess? Which are two questions one also wants to ask when, just as predicted earlier this week, Bloomberg says a certain large US financial firm “Targets China Tech Billions” in a new ETF. Meanwhile, nobody seems to hold any Evergrande foreign debt that may now be defaulting after missing a coupon payment yesterday, and starting a 30-day grace period countdown. Nobody. The firm clearly sold all those bonds to itself. And Chinese junk-rated dollar bond issuers were already back in the market yesterday as the “Evergrande to fail” headline hit: even junk-rated property developers. All “Reflation!”, and no “Re: reflation…” Then again, in the face of a global pandemic and a socioeconomic body-blow, the US saw household net wealth increase $5,849bn in Q2 alone. Almost six trillion dollars. In three months. When supply chains were collapsing and the labor market wasn’t doing that much laboring. It takes a LOT of glue to hold that kind of number together, trust me. Oh, just give me the puppy and be done with it. You can clean up your own mess when the time comes. Happy Friday.  Tyler Durden Fri, 09/24/2021 - 09:07.....»»

Category: blogSource: zerohedgeSep 24th, 2021

Futures Slide Alongside Cryptocurrencies Amid China Crackdown

Futures Slide Alongside Cryptocurrencies Amid China Crackdown US futures and European stocks fell amid ongoing nerves over the Evergrande default, while cryptocurrency-linked stocks tumbled after the Chinese central bank said such transactions are illegal. Sovereign bond yields fluctuated after an earlier selloff fueled by the prospect of tighter monetary policy. At 745am ET, S&P 500 e-minis were down 19.5 points, or 0.43%, Nasdaq 100 e-minis were down 88.75 points, or 0.58% and Dow e-minis were down 112 points, or 0.33%. In the biggest overnight news, Evergrande offshore creditors remain in limbo and still haven't received their coupon payment effectively starting the 30-day grace period, while also in China, the State Planner issued a notice on the crackdown of cryptocurrency mining, will strictly prohibit financing for new crypto mining projects and strengthen energy consumption controls of new crypto mining projects. Subsequently, the PBoC issued a notice to further prevent and dispose of the risks from speculating on cryptocurrencies, to strengthen monitoring of risks from crypto trading and such activities are illegal. The news sent the crypto space tumbling as much as 8% while cryptocurrency-exposed stocks slumped in U.S. premarket trading. Marathon Digital (MARA) drops 6.5%, Bit Digital (BTBT) declines 4.7%, Riot Blockchain (RIOT) -5.9%, Coinbase -2.8%. Big banks including JPMorgan, Citigroup, Morgan Stanley and Bank of America Corp slipped about 0.5%, while oil majors Exxon Mobil and Chevron Corp were down 0.4% and 0.3%, respectively, in premarket trading.Mega-cap FAAMG tech giants fell between 0.5% and 0.6%. Nike shed 4.6% after the sportswear maker cut its fiscal 2022 sales expectations and warned of delays during the holiday shopping season. Several analysts lowered their price targets on the maker of sports apparel and sneakers after the company cut its FY revenue growth guidance to mid-single- digits. Here are some of the biggest U.S. movers today: Helbiz (HLBZ) falls 10% after the micromobility company filed with the SEC for the sale of as many as 11m shares by stockholders. Focus Universal (FCUV), an online marketing company that’s been a favorite of retail traders, surged 26% in premarket trading after the stock was cited on Stocktwits in recent days. Vail Resorts (MTN) falls 2.7% in postmarket trading after its full-year forecasts for Ebitda and net income missed at the midpoint. GlycoMimetics (GLYC) jumps 15% postmarket after announcing that efficacy and safety data from a Phase 1/2 study of uproleselan in patients with acute myeloid leukemia were published in the journal Blood on Sept. 16. VTV Therapeutics (VTVT) surges 30% after company says its HPP737 psoriasis treatment showed favorable safety and tolerability profile in a multiple ascending dose study. Fears about a sooner-than-expected tapering amid signs of stalling U.S. economic growth and concerns over a spillover from China Evergrande’s default had rattled investors in September, putting the benchmark S&P 500 index on course to snap a seven-month winning streak. Elaine Stokes, a portfolio manager at Loomis Sayles & Co., told Bloomberg Television, adding that “what they did is tell us that they feel really good about the economy.” While the bond selloff vindicated Treasury bears who argue yields are too low to reflect fundamentals, others see limits to how high they can go. “We’d expected bond yields to go higher, given the macro situation where growth is still very strong,” Sylvia Sheng, global multi-asset strategist with JPMorgan Asset Management, said on Bloomberg Television. “But we do stress that is a modest view, because we think that upside to yields is still limited from here given that central banks including the Fed are still buying bonds.” Still, Wall Street’s main indexes rallied in the past two session and are set for small weekly gains. European equities dipped at the open but trade off worst levels, with the Euro Stoxx 50 sliding as much as 1.1% before climbing off the lows. France's CAC underperformed at the margin. Retail, financial services are the weakest performers. EQT AB, Europe’s biggest listed private equity firm, fell as much as 8.1% after Sweden’s financial watchdog opened an investigation into suspected market abuse. Here are some of the other biggest European movers today: SMCP shares surge as much as 9.9%, advancing for a 9th session in 10, amid continued hopes the financial troubles of its top shareholder will ultimately lead to a sale TeamViewer climbs much as 4.2% after Bankhaus Metzler initiated coverage with a buy rating, citing the company’s above-market growth AstraZeneca gains as much as 3.6% after its Lynparza drug met the primary endpoint in a prostate cancer trial Darktrace drops as much as 9.2%, paring the stock’s rally over the past few weeks, as a technical pattern triggered a sell signal Adidas and Puma fall as much as 4% and 2.9%, respectively, after U.S. rival Nike’s “large cut” to FY sales guidance, which Jefferies said would “likely hurt” shares of European peers Earlier in the session, Asian stocks rose for a second day, led by rallies in Japan and Taiwan, following U.S. peers higher amid optimism over the Federal Reserve’s bullish economic outlook and fading concerns over widespread contagion from Evergrande. Stocks were muted in China and Hong Kong. India’s S&P BSE Sensex topped the 60,000 level for the first time on Friday on optimism that speedier vaccinations will improve demand for businesses in Asia’s third-largest economy. The MSCI Asia Pacific Index gained as much as 0.7%, with TSMC and Sony the biggest boosts. That trimmed the regional benchmark’s loss for the week to about 1%. Japan’s Nikkei 225 climbed 2.1%, reopening after a holiday, pushing its advance for September to 7.7%, the best among major global gauges. The Asian regional benchmark pared its gain as Hong Kong stocks fell sharply in late afternoon trading amid continued uncertainty, with Evergrande giving no sign of making an interest payment that was due Thursday. Among key upcoming events is the leadership election for Japan’s ruling party next week, which will likely determine the country’s next prime minister. “Investor concerns over the Evergrande issue have retreated a bit for now,” said Hajime Sakai, chief fund manager at Mito Securities Co. in Tokyo. “But investors will have to keep downside risk in the corner of their minds.” Indian stocks rose, pushing the Sensex above 60,000 for the first time ever. Key gauges fell in Singapore, Malaysia and Australia, while the Thai market was closed for a holiday. Treasuries are higher as U.S. trading day begins after rebounding from weekly lows reached during Asia session, adding to Thursday’s losses. The 10-year yield was down 1bp at ~1.42%, just above the 100-DMA breached on Thursday for the first time in three months; it climbed to 1.449% during Asia session, highest since July 6, and remains 5.2bp higher on the week, its fifth straight weekly increase. Several Fed speakers are slated, first since Wednesday’s FOMC commentary set forth a possible taper timeline.  Bunds and gilts recover off cheapest levels, curves bear steepening. USTs bull steepen, richening 1.5bps from the 10y point out. Peripheral spreads are wider. BTP spreads widen 2-3bps to Bunds. In FX, the Bloomberg Dollar Spot Index climbed back from a one-week low as concern about possible contagion from Evergrande added to buying of the greenback based on the Federal Reserve tapering timeline signaled on Wednesday. NZD, AUD and CAD sit at the bottom of the G-10 scoreboard. ZAR and TRY are the weakest in EM FX. The pound fell after its rally on Thursday as investors looked ahead to BOE Governor Andrew Bailey’s sPeech next week about a possible interest-rate hike. Traders are betting that in a contest to raise borrowing costs first, the Bank of England will be the runaway winner over the Federal Reserve. The New Zealand and Aussie dollars led declines among Group-of-10 peers. The euro was trading flat, with a week full of events failing “to generate any clear directional move,” said ING analysts Francesco Pesole and Chris Turner. German IFO sentiment indeces will “provide extra indications about the area’s sentiment as  businesses faced a combination of delta variant concerns and lingering supply disruptions”. The Norwegian krone is the best performing currency among G10 peers this week, with Thursday’s announcement from the Norges Bank offering support In commodities, crude futures hold a narrow range up around best levels for the week. WTI stalls near $73.40, Brent near $77.50. Spot gold extends Asia’s gains, adding $12 on the session to trade near $1,755/oz. Base metals are mixed, LME nickel and aluminum drop ~1%, LME tin outperforms with a 2.8% rally. Bitcoin dips after the PBOC says all crypto-related transactions are illegal. Looking to the day ahead now, we’ll hear from Fed Chair Powell, Vice Chair Clarida and the Fed’s Mester, Bowman, George and Bostic, as well as the ECB’s Lane and Elderson, and the BoE’s Tenreyro. Finally, a summit of the Quad Leaders will be held at the White House, including President Biden, and the Prime Ministers of Australia, India and Japan. Market Snapshot S&P 500 futures down 0.3% to 4,423.50 STOXX Europe 600 down 0.7% to 464.18 German 10Y yield fell 8.5 bps to -0.236% Euro little changed at $1.1737 MXAP up 0.4% to 201.25 MXAPJ down 0.5% to 643.20 Nikkei up 2.1% to 30,248.81 Topix up 2.3% to 2,090.75 Hang Seng Index down 1.3% to 24,192.16 Shanghai Composite down 0.8% to 3,613.07 Sensex up 0.2% to 60,031.83 Australia S&P/ASX 200 down 0.4% to 7,342.60 Kospi little changed at 3,125.24 Brent Futures up 0.4% to $77.57/bbl Gold spot up 0.7% to $1,755.38 U.S. Dollar Index little changed at 93.14 Top Overnight News from Bloomberg China Evergrande Group’s unusual silence about a dollar-bond interest payment that was due Thursday has put a focus on what might happen during a 30-day grace period. The Reserve Bank of Australia’s inflation target is increasingly out of step with international counterparts and fails to account for structural changes in the country’s economy over the past 30 years, Westpac Banking Corp.’s Bill Evans said. With central banks from Washington to London this week signaling more alarm over faster inflation, the ultra-stimulative path of the euro zone and some of its neighbors appears lonelier than ever. China’s central bank continued to pump liquidity into the financial system on Friday as policy makers sought to avoid contagion stemming from China Evergrande Group spreading to domestic markets. A more detailed look at global markets courtesy of Newsquawk Asian equity markets traded mixed with the region failing to fully sustain the impetus from the positive performance across global counterparts after the silence from Evergrande and lack of coupon payments for its offshore bonds, stirred uncertainty for the company. ASX 200 (-0.4%) was negative as underperformance in mining names and real estate overshadowed the advances in tech and resilience in financials from the higher yield environment. Nikkei 225 (+2.1%) was the biggest gainer overnight as it played catch up to the prior day’s recovery on return from the Autumnal Equinox holiday in Japan and with exporters cheering the recent risk-conducive currency flows, while KOSPI (-0.1%) was lacklustre amid the record daily COVID-19 infections and after North Korea deemed that it was premature to declare that the Korean War was over. Hang Seng (-1.2%) and Shanghai Comp. (-0.8%) were indecisive after further liquidity efforts by the PBoC were offset by concerns surrounding Evergrande after the Co. failed to make coupon payments due yesterday for offshore bonds but has a 30-day grace period with the Co. remaining quiet on the issue. Finally, 10yr JGBs were lower on spillover selling from global counterparts including the declines in T-notes as the US 10yr yield breached 1.40% for the first time since early-July with the pressure in bonds also stemming from across the Atlantic following a more hawkish BoE, while the presence of the BoJ in the market today for over JPY 1.3tln of government bonds with 1yr-10yr maturities did very little to spur prices. Top Asian News Rivals for Prime Minister Battle on Social Media: Japan Election Asian Stocks Rise for Second Day, Led by Gains in Japan, Taiwan Hong Kong Stocks Still Wagged by Evergrande Tail Hong Kong’s Hang Seng Tech Index Extends Decline to More Than 2% European equities (Stoxx 600 -0.9%) are trading on the back foot in the final trading session of the week amid further advances in global bond yields and a mixed APAC handover. Overnight, saw gains for the Nikkei 225 of 2.1% with the index aided by favourable currency flows, whilst Chinese markets lagged (Shanghai Comp. -0.8%, Hang Seng -1.6%) with further liquidity efforts by the PBoC offset by concerns surrounding Evergrande after the Co. failed to make coupon payments due yesterday for offshore bonds. As context, despite the losses in Europe today, the Stoxx 600 is still higher by some 1.2% on the week. Stateside, futures are also on a softer footing with the ES down by 0.4% ahead of a busy Fed speaker schedule. Back to Europe, sectors are lower across the board with Retail and Personal & Household Goods lagging peers. The former has been hampered by losses in Adidas (-3.0%) following after hours earnings from Nike (-4.2% pre-market) which saw the Co. cut its revenue guidance amid supply chain woes. AstraZeneca (+2.1%) sits at the top of the FTSE 100 after announcing that the Lynparza PROpel trial met its primary endpoint. Daimler’s (+0.1%) Mercedes-Benz has announced that it will take a 33% stake in a battery cell manufacturing JV with Total and Stellantis. EQT (-6.5%) sits at the foot of the Stoxx 600 after the Swedish FSA announced it will open an investigation into the Co. Top European News EQT Investigated by Sweden’s FSA Over Suspected Market Abuse Gazprom Says Claims of Gas Under-supply to Europe Are ‘Absurd’ German Sept. Ifo Business Confidence 98.8; Est. 99 German Business Index at Five-Month Low in Pre-Election Verdict In FX, the rot seems to have stopped for the Buck in terms of its sharp and marked fall from grace amidst post-FOMC reflection and re-positioning in the financial markets on Thursday. Indeed, the Dollar index has regained some poise to hover above the 93.000 level having recoiled from 93.526 to 92.977 over the course of yesterday’s hectic session that saw the DXY register a marginal new w-t-d high and low at either end of the spectrum. Pre-weekend short covering and consolidation may be giving the Greenback a lift, while the risk backdrop is also less upbeat ahead of a raft of Fed speakers flanking US new home sales data. Elsewhere, the Euro remains relatively sidelined and contained against the Buck with little independent inspiration from the latest German Ifo survey as the business climate deteriorated broadly in line with consensus and current conditions were worse than forecast, but business expectations were better than anticipated. Hence, Eur/Usd is still stuck in a rut and only briefly/fractionally outside 1.1750-00 parameters for the entire week, thus far, as hefty option expiry interest continues to keep the headline pair in check. However, there is significantly less support or gravitational pull at the round number today compared to Thursday as ‘only’ 1.3 bn rolls off vs 4.1 bn, and any upside breach could be capped by 1.1 bn between 1.1765-85. CAD/NZD/AUD - Some payback for the non-US Dollars following their revival, with the Loonie waning from 1.2650+ peaks ahead of Canadian budget balances, though still underpinned by crude as WTI hovers around Usd 73.50/brl and not far from decent option expiries (from 1.2655-50 and 1.2625-30 in 1.4 bn each). Similarly, the Kiwi has faded after climbing to within single digits of 0.7100 in wake of NZ trade data overnight revealing a much wider deficit as exports slowed and imports rose, while the Aussie loses grip of the 0.7300 handle and skirts 1.1 bn option expiries at 0.7275. CHF/GBP/JPY - The Franc is fairly flat and restrained following a dovish SNB policy review that left in lagging somewhat yesterday, with Usd/Chf and Eur/Chf straddling 0.9250 and 1.0850 respectively, in contrast to Sterling that is paring some hawkish BoE momentum, as Cable retreats to retest bids circa 1.3700 and Eur/Gbp bounces from sub-0.8550. Elsewhere, the Yen has not been able to fend off further downside through 110.00 even though Japanese participants have returned to the fray after the Autumn Equinox holiday and reports suggest some COVID-19 restrictions may be lifted in 13 prefectures on a trial basis. SCANDI/EM/PM/CRYPTO - A slight change in the pecking order in Scandi-land as the Nok loses some post-Norges Bank hike impetus and the Sek unwinds a bit of its underperformance, but EM currencies are bearing the brunt of the aforementioned downturn in risk sentiment and firmer Usd, with the Zar hit harder than other as Gold is clings to Usd 1750/oz and Try down to deeper post-CBRT rate cut lows after mixed manufacturing sentiment and cap u readings. Meanwhile, Bitcoin is being shackled by the latest Chinese crackdown on mining and efforts to limit risks from what it describes as unlawful speculative crypto currency trading. In commodities, WTI and Brent are set the conclude the week in the green with gains in excess of 2% for WTI at the time of writing; in-spite of the pressure seen in the complex on Monday and the first-half of Tuesday, where a sub USD 69.50/bbl low was printed. Fresh newsflow has, once again, been limited for the complex and continues to focus on the gas situation. More broadly, no update as of yet on the Evergrande interest payment and by all accounts we appear to have entered the 30-day grace period for this and, assuming catalysts remain slim, updates on this will may well dictate the state-of-play. Schedule wise, the session ahead eyes significant amounts of central bank commentary but from a crude perspective the weekly Baker Hughes rig count will draw attention. On the weather front, Storm Sam has been upgraded to a Hurricane and is expected to rapidly intensify but currently remains someway into the mid-Atlantic. Moving to metals, LME copper is pivoting the unchanged mark after a mixed APAC lead while attention is on Glencore’s CSA copper mine, which it has received an offer for; the site in 2020 produced circa. 46k/T of copper which is typically exported to Asia smelters. Elsewhere, spot gold and silver are firmer but have been very contained and remain well-within overnight ranges thus far. Which sees the yellow metal holding just above the USD 1750/oz mark after a brief foray below the level after the US-close. US Event Calendar 10am: Aug. New Home Sales MoM, est. 1.0%, prior 1.0% 10am: Aug. New Home Sales, est. 715,000, prior 708,000 Central Bank Speakers 8:45am: Fed’s Mester Discusses the Economic Outlook 10am: Powell, Clarida and Bowman Host Fed Listens Event 10:05am: Fed’s George Discusses Economic Outlook 12pm: Fed’s Bostic Discusses Equitable Community Development DB's Jim Reid concludes the overnight wrap WFH today is a bonus as it’s time for the annual ritual at home where the latest, sleekest, shiniest iPhone model arrives in the post and i sheepishly try to justify to my wife when I get home why I need an incremental upgrade. This year to save me from the Spanish Inquisition I’m going to intercept the courier and keep quiet. Problem is that such speed at intercepting the delivery will be logistically challenging as I remain on crutches (5 weeks to go) and can’t grip properly with my left hand due to an ongoing trapped nerve. I’m very glad I’m not a racehorse. Although hopefully I can be put out to pasture in front of the Ryder Cup this weekend. The big news of the last 24 hours has been a galloping global yield rise worthy of the finest thoroughbred. A hawkish Fed meeting, with the dots increasing and the end of QE potentially accelerated, didn’t quite have the ability to move markets but the global dam finally broke yesterday with Norway being the highest profile developed country to raise rates this cycle (expected), but more importantly a Bank of England meeting that saw the market reappraise rate hikes. Looking at the specific moves, yields on 10yr Treasuries were up +13.0bps to 1.430% in their biggest daily increase since 25 February, as both higher real rates (+7.9bps) and inflation breakevens (+4.9bps) drove the advance. US 10yr yields had been trading in a c.10bp range for the last month before breaking out higher, though they have been trending higher since dropping as far as 1.17% back in early-August. US 30yr yields rose +13.2bps, which was the biggest one day move in long dated yields since March 17 2020, which was at the onset of the pandemic and just days after the Fed announced it would be starting the current round of QE. The large selloff in US bonds saw the yield curve steepen and the long-end give back roughly half of the FOMC flattening from the day before. The 5y30y curve steepened 3.4bps for a two day move of -3.3bps. However the 2y10y curve steepened +10.5bps, completely reversing the prior day’s flattening (-4.2bps) and leaving the spread at 116bp, the steepest level since first week of July. 10yr gilt yields saw nearly as strong a move (+10.8bps) with those on shorter-dated 2yr gilts (+10.7bps) hitting their highest level (0.386%) since the pandemic began.That came on the back of the BoE’s latest policy decision, which pointed in a hawkish direction, building on the comment in the August statement that “some modest tightening of monetary policy over the forecast period is likely to be necessary” by saying that “some developments during the intervening period appear to have strengthened that case”. The statement pointed out that the rise in gas prices since August represented an upside risks to their inflation projections from next April, and the MPC’s vote also saw 2 members (up from 1 in August) vote to dial back QE. See DB’s Sanjay Raja’s revised rate hike forecasts here. We now expect a 15bps hike in February. The generalised move saw yields in other European countries rise as well, with those on 10yr bunds (+6.6bps), OATs (+6.5bps) and BTPs (+5.7bps) all seeing big moves higher with 10yr bunds seeing their biggest climb since late-February and back to early-July levels as -0.258%. The yield rise didn’t stop equity indices recovering further from Monday’s rout, with the S&P 500 up +1.21% as the index marked its best performance in over 2 months, and its best 2-day performance since May. Despite the mood at the end of the weekend, the S&P now starts Friday in positive territory for the week. The rally yesterday was led by cyclicals for a second straight day with higher commodity prices driving outsized gains for energy (+3.41%) and materials (+1.39%) stocks, and the aforementioned higher yields causing banks (+3.37%) and diversified financials (+2.35%) to outperform. The reopening trade was the other main beneficiary as airlines rose +2.99% and consumer services, which include hotel and cruiseline companies, gained +1.92%. In Europe, the STOXX 600 (+0.93%) witnessed a similarly strong performance, with index led by banks (+2.16%). As a testament to the breadth of yesterday’s rally, the travel and leisure sector (+0.04%) was the worst performing sector on this side of the Atlantic even while registering a small gain and lagging its US counterparts. Before we get onto some of yesterday’s other events, it’s worth noting that this is actually the last EMR before the German election on Sunday, which has long been signposted as one of the more interesting macro events on the 2021 calendar, the results of which will play a key role in not just domestic, but also EU policy. And with Chancellor Merkel stepping down after four terms in office, this means that the country will soon be under new management irrespective of who forms a government afterwards. It’s been a volatile campaign in many respects, with Chancellor Merkel’s CDU/CSU, the Greens and the centre-left SPD all having been in the lead at various points over the last six months. But for the last month Politico’s Poll of Polls has shown the SPD consistently ahead, with their tracker currently putting them on 25%, ahead of the CDU/CSU on 22% and the Greens on 16%. However the latest poll from Forschungsgruppe Wahlen yesterday suggested a tighter race with the SPD at 25, the CDU/CSU at 23% and the Greens at 16.5%. If the actual results are in line with the recent averages, it would certainly mark a sea change in German politics, as it would be the first time that the SPD have won the popular vote since the 2002 election. Furthermore, it would be the CDU/CSU’s worst ever result, and mark the first time in post-war Germany that the two main parties have failed to win a majority of the vote between them, which mirrors the erosion of the traditional big parties in the rest of continental Europe. For the Greens, 15% would be their best ever score, and exceed the 9% they got back in 2017 that left them in 6th place, but it would also be a disappointment relative to their high hopes back in the spring, when they were briefly polling in the mid-20s after Annalena Baerbock was selected as their Chancellor candidate. In terms of when to expect results, the polls close at 17:00 London time, with initial exit polls released immediately afterwards. However, unlike the UK, where a new majority government can immediately come to power the day after the election, the use of proportional representation in Germany means that it could potentially be weeks or months before a new government is formed. Indeed, after the last election in September 2017, it wasn’t until March 2018 that the new grand coalition between the CDU/CSU and the SPD took office, after attempts to reach a “Jamaica” coalition between the CDU/CSU, the FDP and the Greens was unsuccessful. In the meantime, the existing government will act as a caretaker administration. On the policy implications, it will of course depend on what sort of government is actually formed, but our research colleagues in Frankfurt have produced a comprehensive slidepack (link here) running through what the different parties want across a range of policies, and what the likely coalitions would mean for Germany. They also put out another note yesterday (link here) where they point out that there’s still much to play for, with the SPD’s lead inside the margin of error and with an unusually high share of yet undecided voters. Moving on to Asia and markets are mostly higher with the Nikkei (+2.04%), CSI (+0.53%) and India’s Nifty (+0.52%) up while the Hang Seng (-0.03%), Shanghai Comp (-0.07%) and Kospi (-0.10%) have all made small moves lower. Meanwhile, the Evergrande group missed its dollar bond coupon payment yesterday and so far there has been no communication from the group on this. They have a 30-day grace period to make the payment before any event of default can be declared. This follows instructions from China’s Financial regulators yesterday in which they urged the group to take all measures possible to avoid a near-term default on dollar bonds while focusing on completing unfinished properties and repaying individual investors. Yields on Australia and New Zealand’s 10y sovereign bonds are up +14.5bps and +11.3bps respectively this morning after yesterday’s move from their western counterparts. Yields on 10y USTs are also up a further +1.1bps to 1.443%. Elsewhere, futures on the S&P 500 are up +0.04% while those on the Stoxx 50 are down -0.10%. In terms of overnight data, Japan’s August CPI printed at -0.4% yoy (vs. -0.3% yoy expected) while core was unchanged in line with expectations. We also received Japan’s flash PMIs with the services reading at 47.4 (vs. 42.9 last month) while the manufacturing reading came in at 51.2 (vs. 52.7 last month). In pandemic related news, Jiji reported that Japan is planning to conduct trials of easing Covid restrictions, with 13 prefectures indicating they’d like to participate. This is likely contributing to the outperformance of the Nikkei this morning. Back to yesterday now, and one of the main highlights came from the flash PMIs, which showed a continued deceleration in growth momentum across Europe and the US, and also underwhelmed relative to expectations. Running through the headline numbers, the Euro Area composite PMI fell to 56.1 (vs. 58.5 expected), which is the lowest figure since April, as both the manufacturing (58.7 vs 60.3 expected) and services (56.3 vs. 58.5 expected) came in beneath expectations. Over in the US, the composite PMI fell to 54.5 in its 4th consecutive decline, as the index hit its lowest level in a year, while the UK’s composite PMI at 54.1 (vs. 54.6 expected) was the lowest since February when the country was still in a nationwide lockdown. Risk assets seemed unperturbed by the readings, and commodities actually took another leg higher as they rebounded from their losses at the start of the week. The Bloomberg Commodity Spot index rose +1.12% as Brent crude oil (+1.39%) closed at $77.25/bbl, which marked its highest closing level since late 2018, while WTI (+1.07%) rose to $73.30/bbl, so still a bit beneath its recent peak in July. However that is a decent rebound of roughly $11/bbl since its recent low just over a month ago. Elsewhere, gold (-1.44%) took a knock amidst the sharp move higher in yields, while European natural gas prices subsidised for a third day running, with futures now down -8.5% from their intraday peak on Tuesday, although they’re still up by +71.3% since the start of August. US negotiations regarding the upcoming funding bill and raising the debt ceiling are ongoing, with House Speaker Pelosi saying that the former, also called a continuing resolution, will pass “both houses by September 30,” and fund the government through the first part of the fiscal year, starting October 1. Treasury Secretary Yellen has said the US will likely breach the debt ceiling sometime in the next month if Congress does not increase the level, and because Republicans are unwilling to vote to raise the ceiling, Democrats will have to use the once-a-fiscal-year tool of budget reconciliation to do so. However Democrats, are also using that process for the $3.5 trillion dollar economic plan that makes up the bulk of the Biden agenda, and have not been able to get full party support yet. During a joint press conference with Speaker Pelosi, Senate Majority Leader Schumer said that Democrats have a “framework” to pay for the Biden Economic agenda, which would imply that the broad outline of a deal was reached between the House, Senate and the White House. However, no specifics were mentioned yesterday. With Democrats looking to vote on the bipartisan infrastructure bill early next week, negotiations today and this weekend on the potential reconciliation package will be vital. Looking at yesterday’s other data, the weekly initial jobless claims from the US for the week through September 18 unexpectedly rose to 351k (vs. 320k expected), which is the second week running they’ve come in above expectations. Separately, the Chicago Fed’s national activity index fell to 0.29 in August (vs. 0.50 expected), and the Kansas City Fed’s manufacturing activity index also fell more than expected to 22 in September (vs. 25 expected). To the day ahead now, and data highlights include the Ifo’s business climate indicator from Germany for September, along with Italian consumer confidence for September and US new home sales for August. From central banks, we’ll hear from Fed Chair Powell, Vice Chair Clarida and the Fed’s Mester, Bowman, George and Bostic, as well as the ECB’s Lane and Elderson, and the BoE’s Tenreyro. Finally, a summit of the Quad Leaders will be held at the White House, including President Biden, and the Prime Ministers of Australia, India and Japan. Tyler Durden Fri, 09/24/2021 - 08:12.....»»

Category: blogSource: zerohedgeSep 24th, 2021

AAR Reports First Quarter 2022 Results

First quarter sales of $455 million, up 14% over the prior year First quarter GAAP diluted earnings per share from continuing operations of $0.31 compared to a loss per share of $(0.40) in Q1 FY2021 Adjusted diluted earnings per share from continuing operations of $0.52, up 206% from $0.17 in Q1 FY2021 First quarter cash flow from operating activities from continuing operations of $18 million WOOD DALE, Ill., Sept. 23, 2021 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE:AIR) today reported first quarter Fiscal Year 2022 consolidated sales of $455.1 million and income from continuing operations of $11.2 million, or $0.31 per diluted share. For the first quarter of the prior year, the Company reported sales of $400.8 million and loss from continuing operations of $13.9 million, or $0.40 per diluted share. Our adjusted diluted earnings per share from continuing operations in the first quarter of Fiscal Year 2022 were $0.52 compared to $0.17 in the first quarter of the prior year. Current quarter results included net pretax adjustments of $9.9 million, or $0.21 per share, primarily due to a previously disclosed customer contract termination and related asset impairment charges. Consolidated first quarter sales increased 14% over the prior year quarter. Our consolidated sales to commercial customers increased 53% over the prior year quarter primarily due to the recovery in the commercial market from the impact of COVID-19. Our consolidated sales to government customers decreased 17% primarily related to timing as the prior year quarter included significant activity across both our U.S. Marine Corps C-40 and U.S. Air Force pallet contracts. On a sequential basis, consolidated first quarter sales increased 4% over the fourth quarter. Our consolidated sales to commercial customers increased 17% over the fourth quarter while consolidated sales to government customers decreased 10%. Sales to commercial customers were 59% of consolidated sales compared to 44% in the prior year's quarter reflecting the recovery in the commercial market from the impact of COVID-19. Subsequent to the end of the quarter, we announced several new contract awards including: Exclusive distribution agreement with Arkwin Industries covering its broad line of engine actuation and commercial aviation products, which complement our existing engine parts offerings Firm, fixed price contract from the Department of Energy's National Nuclear Security Administration for the conversion and delivery of a Boeing 737-700 aircraft Extension of our long-term, component support agreement with Volotea, a growing low-cost carrier in Spain, for its fleet of Airbus narrowbody aircraft utilizing our logistics centers in Europe "We had a very strong start to the year across our commercial business. We saw robust performance in our MRO operations and continued recovery in our parts activities. We also secured new government and commercial program contract awards while adding another exclusive new parts distribution agreement, which we expect to contribute to our long-term growth," said John M. Holmes, President and Chief Executive Officer of AAR CORP. Gross profit margins increased from 12.1% in the prior year quarter to 14.2% in the current quarter and adjusted gross profit margin increased from 13.0% to 16.1%, primarily due to the favorable impact from our actions to reduce costs and increase our operating efficiency. Expeditionary Services profitability increased significantly from 10.8% to 19.0% reflecting the sale of the Composites business in the prior year quarter and improved execution in the Mobility business. Selling, general and administrative expenses increased from $45.3 million to $49.3 million mainly due to restoration of temporary compensation reductions. Selling, general and administrative expenses as a percent of sales decreased from 11.3% to 10.8% due to the favorable impact from our cost reduction actions. Operating margin increased from 0.8% in the prior year quarter to 3.3% in the current quarter and adjusted operating margin increased from 2.5% to 5.5%, primarily due to the favorable impact from our actions to reduce costs and increase our operating efficiency. Sequentially, our adjusted operating margin increased from 5.2% in the fourth quarter to 5.5% in the current quarter. In conjunction with the U.S. exit from Afghanistan, we have concluded our activities in country under our WASS and U.S. Department of Defense contracts. The operations related to our activities in Afghanistan contributed revenue of $67 million in Fiscal 2021. Holmes continued, "I am extremely proud of our WASS team and their work in Afghanistan. Our team played a vital role in helping to evacuate over 2,000 U.S. Embassy personnel over a 36 hour period. This was a very difficult operation in a challenging environment but all of our flights were completed successfully and once our mission was accomplished, all of our AAR team members were safely evacuated. We are very grateful for their service." Net interest expense for the quarter was $0.7 million compared to $1.6 million last year. Average diluted share count increased to 35.7 million from 35.0 million in the prior year quarter. Cash flow provided by operating activities from continuing operations was $17.5 million during the current quarter compared to $39.8 million in the prior year quarter, which included $48.5 million related to our receipt of funding from the CARES Act through the Payroll Support Program. Excluding our accounts receivable financing program, our cash flow provided by operating activities from continuing operations was $25.9 million in the current quarter. Holmes concluded, "Our continued focus on driving operating efficiency and working capital management led to another quarter of sequential margin improvement and strong cash flow. Looking forward, while the U.S. exit from Afghanistan will impact our government business in the near term, we are encouraged by the strong pipeline of offsetting government opportunities such as the recent contract award from the Department of Energy. In our commercial markets, the timing of the recovery has been impacted by the Delta variant, but as we continue to see demand increase, particularly in our parts activities, we expect continued growth and operating margin expansion." Conference Call Information                                         AAR will hold its quarterly conference call at 3:45 p.m. CT on September 23, 2021. The conference call can be accessed by calling 866-802-4322 from inside the U.S. or +1-703-639-1319 from outside the U.S. A replay of the conference call will also be available by calling 855-859-2056 from inside the U.S. or +1-404-537-3406 from outside the U.S. (access code 8294140). The replay will be available from 7:15 p.m. CT on September 23, 2021 until 10:59 p.m. CT on September 29, 2021. About AAR AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR's Aviation Services include parts supply; OEM solutions; integrated solutions; maintenance, repair, overhaul; and engineering. AAR's Expeditionary Services include mobility systems operations. Additional information can be found at www.aarcorp.com. Contact: Dylan Wolin – Vice President, Strategic & Corporate Development and Treasurer | (630) 227-2017 | dylan.wolin@aarcorp.com This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, which reflect management's expectations about future conditions, including but not limited to (i) the ability of our latest distribution, government and commercial programs contract awards to support continued long-term growth,(ii) the impact of our continued focus on driving operating efficiency and working capital management on sequential margin improvement and cash flow, (iii) the impact on our government business in the near term of the recent U.S. exit from Afghanistan, (iv) the impact of the strong pipeline of offsetting government opportunities on our future results and (v) our expectations regarding continued growth and operating margin expansion. Forward-looking statements often address our expected future operating and financial performance and financial condition, or sustainability targets, goals, commitments, and other business plans, and often may also be identified because they contain words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "might," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions and the negatives of those terms. These forward-looking statements are based on the beliefs of Company management, as well as assumptions and estimates based on information available to the Company as of the dates such assumptions and estimates are made, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, depending on a variety of factors, including: (i) factors that adversely affect the commercial aviation industry; (ii) the continued impact of the COVID-19 pandemic on air travel, worldwide commercial activity and our and our customers' ability to source parts and components; (iii) a reduction in the level of sales to the branches, agencies and departments of the U.S. government and their contractors (which were 44.7% of total sales in fiscal 2021); (iv) non-compliance with laws and regulations relating to the formation, administration and performance of our U.S. government contracts; (v) cost overruns and losses on fixed-price contracts; (vi) nonperformance by subcontractors or suppliers; (vii) changes in or non-compliance with laws and regulations that may affect certain of our aviation and government and defense related activities that are subject to licensing, certification and other regulatory requirements imposed by the FAA, the U.S. State Department and other regulatory agencies, both domestic and foreign; (viii) a reduction in outsourcing of maintenance activity by airlines; (ix) a shortage of the skilled personnel on whom we depend to operate our business, or work stoppages; (x) competition from other companies, including original equipment manufacturers, some of which have greater financial resources than we do; (xi) financial and operational risks arising as a result of operating internationally; (xii) inability to integrate acquisitions effectively and execute our operational and financial plan related to the acquisitions; (xiii) inability to recover our costs due to fluctuations in market values for aviation products and equipment caused by various factors, including reductions in air travel, airline bankruptcies, consolidations and fleet reductions; (xiv) asset impairment charges we may be required to recognize to reflect the non-recoverability of our assets or lowered expectations regarding businesses we have acquired; (xv) limitations on our ability to access the debt and equity capital markets or to draw down funds under loan agreements; (xvi) non-compliance with restrictive and financial covenants contained in certain of our loan agreements, and government funding received under the CARES Act; (xvii) restrictions on paying, or failure to maintain or pay dividends; (xviii) exposure to product liability and property claims that may be in excess of our liability insurance coverage; (xix) threats to our systems technology from equipment failures' cyber and other security y breaches or other disruptions; (xx) the costs of compliance, and liability for non-compliance, with environmental regulations, including future requirements regarding climate change; and (xxi) a need to make significant capital expenditures to keep pace with technological developments in our industry. Should one or more of those risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. Those events and uncertainties are difficult or impossible to predict accurately and many are beyond our control. For a discussion of these and other risks and uncertainties, refer to our Annual Report on Form 10-K, Part I, "Item 1A, Risk Factors" and our Quarterly Reports on Form 10-Q. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The risks described in these reports are not the only risks we face, as additional risks and uncertainties are not currently known or foreseeable or impossible to predict accurately or risks that are beyond the Company's control or deemed immaterial may materially adversely affect our business, financial condition or results of operations in future periods. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. AAR CORP. and Subsidiaries Consolidated Statements of Operations (In millions except per share data - unaudited) Three Months Ended August 31,     2021       2020                   Sales $ 455.1     $ 400.8   Cost and expenses:               Cost of sales   390.5       352.2   Selling, general and administrative   49.3       45.3   Loss from joint ventures   (0.2 )     (0.1 ) Operating income   15.1       3.2   Loss on sale of business   ––       (19.5 ) Interest expense, net   (0.7 )     (1.6 ) Other income, net   0.7       0.2   Income (Loss) from continuing operations before income taxes   15.1       (17.7 ) Income tax expense (benefit)   3.9       (3.8 ) Income (Loss) from continuing operations   11.2       (13.9 ) Income (Loss) from discontinued operations   0.3       (0.6 ) Net income (loss) $ 11.5     $ (14.5 )                 Earnings (Loss) per share – Basic               Earnings (Loss) from continuing operations $ 0.32     $ (0.40 ) Earnings (Loss) from discontinued operations   0.01       (0.02 ) Earnings (Loss) per share – Basic $ 0.33     $ (0.42 )                 Earnings (Loss) per share – Diluted               Earnings (Loss) from continuing operations $ 0.31     $ (0.40 ) Earnings (Loss) from discontinued operations   0.01       (0.02 ) Earnings (Loss) per share – Diluted $ 0.32     $ (0.42 )                 Share Data:               Weighted average shares outstanding – Basic   35.1       34.9   Weighted average shares outstanding – Diluted   35.7       35.0                   AAR CORP. and Subsidiaries Consolidated Balance Sheets (In millions) August 31, 2021   May 31, 2021   (unaudited)     ASSETS       Cash and cash equivalents $ 48.8   $ 51.8 Restricted cash   3.8     8.4 Accounts receivable, net   180.8     166.7 Contract assets   74.6     71.9 Inventories, net   525.8     540.6 Rotable assets and equipment on or available for lease   52.3     50.4 Assets of discontinued operations   19.2     19.5 Other current assets   39.6     27.7 Total current assets   944.9     937.0 Property, plant, and equipment, net   109.1     120.0 Operating lease right-of-use assets, net   73.6     75.8 Goodwill and intangible assets, net   122.1     123.8 Rotable assets supporting long-term programs   178.0     184.3 Other non-current assets   108.0     98.8 Total assets $ 1,535.7   $ 1,539.7             LIABILITIES AND EQUITY           Accounts payable and accrued liabilities $ 304.0   $ 301.4 Liabilities of discontinued operations   20.2     35.4 Total current liabilities   324.2     336.8 Long-term debt   127.6     133.7 Operating lease liabilities   58.0     59.9 Other liabilities and deferred income   37.7     34.9 Total liabilities   547.5     565.3 Equity   988.2     974.4 Total liabilities and equity $ 1,535.7   $ 1,539.7             AAR CORP. and Subsidiaries Consolidated Statements of Cash Flows (In millions – unaudited) Three Months Ended August 31,.....»»

Category: earningsSource: benzingaSep 23rd, 2021

The Full Potential Of GPUs For Gamers And Crypto Miners

We’ve all seen the news coverage of the supposed clash between gamers and crypto miners due to rising graphics card (GPU) prices. Q2 2021 hedge fund letters, conferences and more But, for people who already have a GPU – maybe they’re gamers, artists or graphic designers – the opportunity to make money back while they’re […] We’ve all seen the news coverage of the supposed clash between gamers and crypto miners due to rising graphics card (GPU) prices. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more But, for people who already have a GPU – maybe they’re gamers, artists or graphic designers – the opportunity to make money back while they’re not using their computers is there. By making it easy for people with powerful GPUs to mine crypto in their downtime on their personal computers, hashing and gaming can work well together. Are Gamers Really Against Crypto Mining Due To GPU Scarcity? News reports focus on the idea that crypto miners in the millions are hoovering up powerful GPUs and controlling supply due to the increase in the value of cryptocurrencies, including Bitcoin, Ripple, Ethereum and Litecoin, leaving the market short for gamers. It’s certainly true, as The Verge reports that a range of powerful graphics cards, including the likes of Nvidia and AMD, are in short supply. This is because serious cryptocurrency miners buy in bulk to build rigs for the likes of Bitcoin and Ethereum. According to Polygon, some Nvidia GeForce GTX 1070 cards often sell at a price increase of around 80%. Some gamers say that it’s increasingly difficult to build the kind of PC they want from scratch because they can’t access mid-range video cards, such as the GTX 1060. And as the middle range becomes scarcer, this inevitably increases the price of more powerful GPUs. Naturally, many gamers are in defence intelligence mode, trying to control the shortage in the market. The truth is the shortage of GPUs is no different to the shortage of automobile chips and computer parts, it’s simply because manufacturers anticipated a recession and economic crash after Covid 19, which never happened and in fact had the opposite effect, increasing demand for computer parts all over the world. So manufacturers are left playing catch up for the next couple of years. It's been a hard market to predict and control the market. Cryptocurrency miners who do this for a living need ever more powerful GPU/CPU hardware to solve the equations necessary to mine a coin. An example of the complex and expensive rigs that some users are utilizing can be seen here. This is a mining rig that uses a total of 78 Ge Force RTX 3080 graphics cards. It started operations in January 2021 and makes more than $20,000 every month for the miner. And, when media outlets began covering this mega-mining rig, it started creating a lot of criticism. Gamers, in particular, say this is precisely why they can’t get hold of the GeForce RTX 30 series GPU, while the owner of this rig managed to source 78. The users of the mega-rig remain unphased and calls it Berta 2. Each graphics card within this rig can process up to $9.15 worth of Ethereum every day. And every GPU in the set up would have cost the user $100,000, which means he will just about be making a return on investment at the time of writing. While the GPUs were priced at $699 on launch, the shortage bumped the price up to $1,199 each when Berta 2 was built. Gamers Can Use Their GPUs To Mine For Coins During Their Downtime As the value of crypto has increased (although the news reported a crash last week), so has the money-making potential from mining. Before the most recent surges in the value of Bitcoin and Etherium, graphics cards were already in relatively short supply in the millions. Of course, demand since the rise in crypto value has grown even further, and with scalpers ready to join and scoop up new releases and sell on at an inflated cost, it can certainly be a problem. According to Tom’s Hardware, the shortage of powerful graphics cards is echoing the shortage in 2017. These are both in direct response to the surge in the value of cryptocurrencies and the potential to make more from mining cryptocurrency. In other words, it’s a pattern that is repeating itself. Gamers, artists, graphic designers, and people with powerful GPU/CPU hardware, the option to make money from its power is there. In this way, it’s possible to make money back from investing in the graphics card and high-spec set-up in the first place. And this is possible when the computer is not in use – in many ways the ideal solution. Make Back The Cost Of The GPU Within Months Through Crypto Mining If we work on the basis that GPUs usually cost about $2000, it’s possible to begin creating $200 back every month simply by having the ability to leave the computer running when it’s not in use for work or gaming. It’s possible then to pay for the equipment in just 10 to 12 months. This is why at NiceHash, we’ve found huge support for crypto mining from gamers. When they realise how simple it is to use their already existing GPU power to make money back when they’re not using their set-up for gaming, they decide to join and mining becomes much more accessible and viable. For those who want to take crypto mining more seriously, it’s necessary to buy at least three and usually around 30 GPUs to set up the rig. With 12 GPUs costing around $20,000 to set up, it’s possible to make about $1800 per month through crypto mining. After 12 months, the initial investment is paid back, and the graphics cards paid off. A good way to control your investment into the cryptocurrency sphere with a sense of security. From then on, the $1800 per month for crypto mining is pure profit. Holding on to the mined coins for a couple of years will bring in more profit, as their value will more than likely rise over that time. Being patient and not selling can seriously pay off, and we do see this happening often.   Crypto Mining Is A Valid Side Hustle For Gamers Or As A Main Income Many of the users at NiceHash can live off the money they make through crypto mining. This is particularly the case for those living in developing countries and less well-off regions around the world. Many join the mining trend out of financial security rather than a real interest in cryptocurrency. With just 5 or 6 GPUs, they can make around $700 per month, and depending on where they live; this could be enough to keep their family going. In other regions, it’s possible to get by with even less income. For example, in places like Thailand and Venezuela, crypto miners can make $150 per month and provide security for their families (without needing employment from a company). So, while there is undoubtedly a debate among gamers who insist that crypto miners are buying up all of the GPU supply, the reality is many gamers are using their video cards for both purposes. It doesn’t have to be either/or for gamers and miners. This leads to an interesting and potentially valuable investment opportunity. Think of it as a modern day parallel to the gold miners in the Wild West who became wealthy, and at the same time, so did the people providing the pickaxes and tools. If you are going to buy mining software or hardware, I would strongly urge you to do your due diligence before purchasing it. Cyrptojacking i.e hackers using malware and botnets to steal coins or your identity remains a huge issue in the industry (being a hacker isn't cool!) For people not interested in cryptocurrencies or gaming, there’s always opportunities provided by investing in companies like Nvidia or AMD (legitimate providers of mining hardware, protected from malware attacks). We can assume that they will continue to thrive, and their investors will continue to see good returns and investment security. At least for the foreseeable future. My message for people interested in crypto mining is that the investment into the expensive GPU upfront will quickly pay for itself. After all, 12 months isn’t long to wait in investment terms for decent returns. Remember that with a GPU, you can always switch the algorithm to mine another coin. So, if one goes down, another will be going up in value. Also, don't always get carried away with the sensationless news - consult with experts in cryptocurrency sphere before getting involved with large investments, and again ensure you are using the correct software (being careful of any attacks from malware and botnets). For more from us on the GPU for crypto mining, click here. About Matjaž Škorjanc and NiceHash Matjaž Škorjanc is co-founder and Mining Manager of Slovenian company NiceHash, the world’s leading cryptocurrency mining services provider and cryptocurrency coin marketplace. Škorjanc founded NiceHash in 2014 after spotting a gap in the crypto mining market for a user-friendly free exchange for NiceHash users to bid against each other openly. Based in Slovenia, both Škorjanc and NiceHash are vocal advocates for decentralization and the potential of crypto (not only in Slovenia but for users worldwide). NiceHash believes in a blockchain and decentralization, where everyone has equal access to a new financial standard. Matjaz Skorjanc is a Slovenian expert in block chain tech, operating systems, mining software, defence intelligence and networks. Updated on Sep 23, 2021, 2:36 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 23rd, 2021

Cassava (SAVA) Posts Top-Line Data from AD Study on Simufilam

Cassava (SAVA) reports top-line data from an interim analysis of the on-going study evaluating simufilam in patients with mild-to-moderate Alzheimer's disease. Cassava Sciences, Inc. SAVA announced top-line data from an interim analysis of the ongoing study evaluating its drug candidate, simufilam, for treating patients with mild-to-moderate Alzheimer’s disease (“AD”).Data from the study showed that the first 50 subjects who completed one year of open-label treatment with simufilam saw their cognition scores improve at an average of 3.2 points on Alzheimer’s Disease Assessment Scale–Cognitive Subscale (ADAS-Cog) from the baseline. The study is being funded by the National Institutes of Health.68% of study subjects showed improvement on ADAS-Cog and an additional 20% of the subjects showed decline of less than five points on ADAS-Cog at 12 months of treatment.Overall, treatment with simufilam was generally well-tolerated, with no serious adverse side effect observed through the 12-month interim analysis.Shares of Cassava have skyrocketed 667% so far this year against the industry’s decrease of 12.5%.Image Source: Zacks Investment ResearchIn August 2021, Cassava reached an agreement with the FDA on Special Protocol Assessments (“SPA”) for its phase III studies of simufilam for the treatment of AD. The SPAs underscore the company’s alignment with the FDA on key scientific, clinical and regulatory requirements of the phase III program of simufilam in AD. The company plans to initiate the studies in the fourth quarter of 2021.Simufilam is a proprietary, small-molecule (oral) drug that restores the normal shape and function of altered filamin A, a scaffolding protein, in the brain.Quite a few companies are striving hard to get their AD drugs approved. Eli Lilly LLY is developing donanemab, an investigational antibody therapy, for AD. Small biotech Annovis Bio, Inc. ANVS is also developing its pipeline candidate in mid-stage study for treating AD.The FDA approval of Biogen’s BIIB AD drug, Aduhelm (aducanumab), has put the spotlight on this promising yet challenging space. In June 2021, Biogen and its partner Eisai won the FDA approval for Aduhelm as the first and only AD treatment, after a few setbacks.Zacks RankCassava currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Biogen Inc. (BIIB): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Cassava Sciences, Inc. (SAVA): Free Stock Analysis Report Annovis Bio, Inc. (ANVS): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 23rd, 2021

10 Things in Politics: New emails reveal Hunter Biden wanted $2M for Libya deal: exclusive

And the FDA authorized COVID-19 booster shots for older adults and people considered at high risk. Welcome back to 10 Things in Politics. Sign up here to receive this newsletter. Plus, download Insider's app for news on the go - click here for iOS and here for Android. Send tips to bgriffiths@insider.com.Here's what we're talking about:Emails reveal Hunter Biden asked for $2 million plus 'success fees' to help unfreeze Libyan assetsFDA authorizes Pfizer-BioNTech booster shots for older adults and others at high riskBiden tries to cool Democratic infighting as his agenda hangs in the balanceWith Phil Rosen. Hunter Biden. Teresa Kroeger/Getty Images for World Food Program USA; Samantha Lee/Insider 1. EXCLUSIVE: Insider obtained emails indicating that Hunter Biden asked for a $2 million annual retainer plus "success fees" to help unfreeze Libyan assets during the Obama administration. The communications offer "a window into the mechanics of Beltway influence peddling and the stock that was put in Biden's political connections," as my colleague writes.Here's a look at Insider's latest scoop:Background: The Obama administration froze up to $15 billion in assets during Muammar Gaddafi's rule. In 2015, long after Gaddafi's ouster and death, two Democratic donors with business in the Persian Gulf pitched Hunter Biden about joining their cause.The two donors were frank in discussing Hunter Biden's connections: "Since he travels with dad he is connected everywhere in Europe and Asia where M.Q. [Gaddafi, also spelled Qaddafi] and LIA [Libya Investment Authority] had money frozen. He said he has access to highest level in PRC [China], he can help there," Sam Jauhari, one donor, wrote in January 2015 to Mohammed al-Rahbani, another donor.Nothing appears to have come from the conversations: The White House declined to provide a statement to Insider. An attorney for al-Rahbani said his client "knows to a certainty that he never spoke to and has no recollection of talking about Hunter Biden."Read more about how the emails show how influence peddling works in Washington.2. FDA authorizes booster shots for older adults and others at high risk: The Food and Drug Administration authorized booster doses of Pfizer-BioNTech's COVID-19 vaccine starting six months after the second dose for older adults and others considered at high risk of falling ill. The FDA decision caps more than a month of messy debate over the US vaccination drive. Here's what still needs to happen including CDC approval, which could happen this week.3. Democrats are working feverishly to avoid a shutdown: Senate Majority Leader Chuck Schumer has yet to tell his fellow Democrats what the party's plan B will be to avoid a government shutdown at the end of the month, Politico reports. Top Senate Republicans have made clear they plan not to support a House-passed bill meant to avert a shutdown and avoid a debt default. Should Democrats elect to do something different, they'll have to move quickly to get it passed in time.Former GOP Treasury secretaries couldn't get Mitch McConnell to budge: The former Treasury secretaries Henry Paulson and Steven Mnuchin met with the Senate minority leader to attempt to resolve the debt-ceiling standoff, The Washington Post reports. But they failed to persuade McConnell to change his stance.Tensions are starting to boil over: "We always do this," Sen. Jon Tester, a Democrat from Montana, told Politico of the stalemate, calling it "a ridiculous exercise" and adding that he couldn't "even compare it to anything I do on the farm that's this stupid."4. Biden tries to cool Democratic infighting: Biden met separately with lawmakers from both wings of the Democratic Party to nudge them away from destroying his domestic agenda in the coming days over a series of disagreements, The Washington Post reports. Centrist Democrats are emphatic that Speaker Nancy Pelosi's earlier promise means the House will vote by Monday on a Senate-passed bipartisan infrastructure bill. Progressive lawmakers, though, don't want to pass the bill until the Senate moves forward on a separate $3.5 trillion plan that would drastically change the safety net. But the White House huddles ended without any new agreements, leaving no certainty that party leaders wouldn't avoid the embarrassment of lawmakers opposing the leader of their party. Democratic Rep. Karen Bass of California, Democratic Sen. Cory Booker of New Jersey, and Republican Sen. Tim Scott of South Carolina. Stefani Reynolds/Getty Images 5. Policing talks have collapsed: Sen. Cory Booker, a Democrat from New Jersey, said there was still "too wide a gulf" and significant differences remained between the two major parties. Negotiations on a sweeping federal bill began last year following the killing of George Floyd. Sen. Tim Scott, a Republican from South Carolina who is his party's lead negotiator in the talks, blamed Democrats for the failure to reach a deal. One of the key sticking points was always whether lawmakers would change the way officers should be held liable for wrongdoing, particularly the issue of so-called qualified immunity. More on the collapse and what Democrats are calling on Biden to do by himself.6. Bush seeking to boost Rep. Liz Cheney's reelection: Former President George W. Bush, in what would be his first event for the midterm cycle, plans to hold a fundraiser for Cheney in Dallas next month. The announcement comes just two weeks after former President Donald Trump endorsed Cheney's GOP primary opponent, Harriet Hageman. Trump has aggressively attacked Cheney, especially after the Wyoming lawmaker voted to impeach him following the Capitol insurrection. More on the long-running feud between the past two GOP presidents.7. James Mattis testifies that he came to doubt Theranos' claims: Mattis, a former defense secretary, testified that he and other Theranos board members were taken aback by issues with the company's technology, The Wall Street Journal reports. "There came a point when I didn't know what to believe about Theranos anymore," Mattis said while on the stand ​​​​during the Theranos founder Elizabeth Holmes' fraud trial. More on Mattis' testimony, including his disclosure that he invested $85,000 in Theranos.8. France is starting to cool off following its submarine snub: France's US ambassador is set to return to his post following his dramatic departure after the US and the UK announced a submarine deal with Australia that cut out the French. The White House and French President Emmanuel Macron released a joint statement announcing the move after a call between the two leaders. Biden and Macron are now set to meet in Europe to further hash things out.9. Texas gov. praises state troopers for erecting a "steel barrier" of vehicles along the border: Gov. Greg Abbott on Tuesday praised border officials and state troopers for positioning miles of police vehicles to deter Haitian migrants from crossing into Texas. Abbott, a Republican, laced into Biden, arguing that the president wasn't doing enough to secure the border. The latest on the situation.10. You can get into every US national park free on Saturday: Entry is free for National Public Lands Day, one of six days this year when national parks open at no entry costs to visitors. You can go look around, hike, and hang out, but the waiver won't cover fees for camping, boat launches, or special tours. Here's everything you need to know for your trip.Today's trivia question: The first memorial built on the Ellipse, an area near the White House, honors the only two American officials thought to be killed in which tragedy? Email your guess and a suggested question to me at bgriffiths@insider.com.Yesterday's answer: The famed director Alfred Hitchcock's iconic movie "North by Northwest" required Cary Grant to be secretly filmed on the UN grounds.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021

Patrick Byrne, the pro-Trump former Overstock CEO admits funneling cash to his ex-lover Maria Butina, the glamorous spy expected to be elected to Russia"s parliament

Maria Butina, a spy jailed and deported by the US, is standing for the Russia's parliament. Insider spoke to Patrick Byrne about their relationship. Former Overstock CEO Patrick Byrne (L) and Russian agent Maria Butina (R) Getty Images/AP Former Russian agent Maria Butina stood for a seat in Russia's parliamentary elections, last week. In 2018 Butina was jailed for acting as an unregistered foreign agent in the US. Butina recently received large sums of money from her ex-boyfriend Patrick Byrne, the former CEO of online retailer Overstock.com and Donald Trump supporter. See more stories on Insider's business page. Maria Butina, the Russian agent convicted and jailed for trying to infiltrate political organizations in the United States, is expected to be elected to the State Duma, the lower house of parliament in Russia, this week.The 32-year-old stood for President Vladimir Putin's ruling United Russia party as a list candidate in the rural region of Kirov Oblast, in last week's elections. United Russia is predicted to have a significant majority in the legislature following allegations of massive fraud by opponents, according to Reuters. With 99.9% of ballots counted, United Russia had won nearly 50% of the vote Central Election Commission, the news agency reported.It is the latest chapter in a political thriller of a life for the young Russian. She has played the role of the girlfriend to powerful men on the US Right and grabbed the headlines when she was arrested for spying. She was imprisoned before being deported to her homeland to a hero's welcome.The Russian agent arrived in the US in the guise of a guns-rights activist and focussed on the leadership of the National Rifle Association (NRA) to meet high-profile Republican politicians and set up a "back-channel" of communications with the Kremlin, according to reports.But Butina was arrested in July 2018 in Washington DC and accused by federal prosecutors of infiltrating powerful political circles at the direction of Russian officials.She pleaded guilty to conspiring to act as a foreign agent and was jailed for 18 months. Putin called the sentencing "an outrage." After her release in October 2019, she was deported back to Russia.'I have one weakness as a woman - I really like smart men' Maria Butina appears in a police booking photograph released by the Alexandria Sheriff's Office in Alexandria, Virginia, U.S. August 18, 2018. Alexandria Sheriff's Office/Handout via REUTERS/File Photo Insider can reveal that Butina has not severed all her connections with the US. She has received large sums of money in the last year from Patrick Byrne, 59, the former CEO of online furniture retailer Overstock.com and Donald Trump supporter and conspiracy theorist.When asked about the monetary gifts, Byrne told Insider, in an email: "I made a gift to Maria out of a desire to let her land on her feet and restart her life in Russia."Byrne and Butina had been in a romantic relationship, and Byrne later claimed that he had been passing information on his lover to the FBI.Federal prosecutors said that Butina traded sex-for-favors while networking in political circles in Washington DC.Butina formed a romantic relationship with Paul Erickson, 59, a longtime Republican strategist and guns-rights activist, who she met in Moscow in 2013 and with who she also lived for some time.In 2015, Butina emailed him about her plan to influence US policy towards Russia by making inroads with the GOP through the NRA, and Erickson responded with advice.Around this time, Butina also began a romantic relationship with Byrne.Butina said of Byrne, according to The New York Post: "I have one weakness as a woman - I really like smart men. That's my biggest weakness, and that I guess gets me in trouble all the time." Byrne later said he continued his relationship with Butina at the direction of the FBI. Butina once claimed that he tried to poison her in order to interrogate her while under the influence.Despite the apparent betrayal, a video made by jailed opposition leader Alexei Navalny's team revealed that Byrne gifted Butina tens of millions of Russian rubles in the last year, according to her asset disclosures.Recalling their unique relationship, Byrne told Insider the money he recently sent her was to make amends: "Because I felt badly for Maria, for the role I had played in helping the FBI set her up, and in the way I had misused her in my own designs."But, he added, the couple will never be reunited. "Maria and I know that we will never meet again, but it seemed like the right thing to do. When I performed this act of generosity I made sure it was done with full legality and notification to the proper authorities."Last month Russia's Communist Party called on election officials to reject Butina's candidacy on the grounds that she is the recipient of "foreign funding," specifically referring to Byrne's gifts.Insider could not reach Butina for comment.Butina was photographed with top GOP politicians at NRA events Maria Butina poses for a photo at a shooting range in Moscow, Russia on April 22, 2012. Pavel Ptitsin/AP Butina's foray into politics began in 2011, when she founded a Russian gun-rights group called Right to Bear Arms, and started working as a special assistant for former senator and current Central Bank official Alexander Torshin.Butina and Torshin formed close relationships with the NRA, regularly flying to the US to attend conferences and being named "life members" by the organization.In 2014 and 2015 Butina was photographed with senior Republican politicians at NRA events, including Louisiana Governor Bobby Jindal, former senator and presidential candidate Rick Santorum, and Wisconsin Governor Scott Walker.She also met Donald Trump Jr. at an NRA convention and asked Donald Trump a question about relations with Russia at an event.In 2016 she moved to the US on a student visa, at which point the FBI supposedly started monitoring her and eventually snared her as a spy.After serving her jail sentence, Butina returned to Moscow and took a job at the Russian state-funded television channel RT.In April 2021 Butina filmed a segment in which she visited Alexei Navalny in prison to report on the "exemplary" jail conditions and to counter the opposition leader's protests that he was being poorly treated.At the time Navalny was on a hunger strike after being denied medical treatment.This weekend's parliamentary elections in Russia have been widely described as lacking transparency and fairness after the Kremlin cracked down on political opposition and limited press freedom.Alexei Navalny had encouraged voters to vote tactically in order to beat United Russia candidates, as part of a movement called "smart voting."It remains to be seen what kind of politician the reinvented Butina will be, and what this next chapter will hold.In a recent campaign video Butina said she felt indebted to her country and her people after "everyone from the President to residents in the depths of Russia fought for my release.""I will be very glad to be useful to the Kirov region," she said.Correction: In the published article it originally stated that Maria Butina had been elected to the Russian Duma. It should have said she was a candidate.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 23rd, 2021