RUTHFULLY YOURS

https://www.americanthinker.com/articles/2023/03/calamity_joe_geopolitical_catastrophes_multiply_as_american_power_and_influence_crash_to_new_postwar_lows.html

In only two years, Joe Biden’s presidency has produced multiple catastrophes from which recovery will be difficult, if it is even possible. Domestically, we see the banking system teetering on insolvency, as the rapid escalation in interest rates has devalued long term Treasury notes that used to be considered a safe place for banks to park funds in excess of what could be safely lent. The reason for these Federal Reserve interest rate hikes is the inflation that was immediately triggered by Biden’s jihad against domestica oil, gas, and coal production, that triggered an inflationary spiral that continues today, devaluing the life savings of thrifty Americans, and pushing food and energy costs up so fast that many families have had to drastically reduce their standard of living.

Bad as these catastrophes are, the potential for serious damage to the welfare of the American people from the military and diplomatic policies of the Biden administration is much worse. Losing a war – or even just fighting a nuclear war – makes a mere Depression look like a day at the beach. And make no mistake, the Biden administration is flirting with a nuclear confrontation with Russia that China might well decide to join and eliminate for good the power of the United States to oppose its aims for dominance of the Asia/Pacific region (for starters). Meanwhile, as the potential for an ultimate confrontation increases, resources for America to counter the threat are rapidly diminishing.

Start with the monumental blunder of driving together China and Russia, not necessarily natural allies, indeed with a recent history of serious tension. But now Xi Jinping is about to visit Moscow, and the two are united in opposition to American hegemony. They are joined in the task of replacing the dollar as the world reserve currency by other rising powers of the BRICS.

https://www.americanthinker.com/articles/2023/03/government_tyrants_play_with_fire.html

If Trump is really arrested on Tuesday, it will say something deeply disturbing about the state of our country.

The communist thugs controlling America’s legal system have chosen to cross the Rubicon, it seems.  President Trump says he will be arrested Tuesday now that New York City’s corrupt, Soros-funded district attorney has cooked up some cockamamie criminal indictment against him involving Stormy Daniels — the same political pawn who was already ordered to pay the president 300,000 dollars in legal fees as restitution in a prior case.

If anyone needed further evidence that we reside under a post-constitutional Uniparty regime with utter disdain for the rule of law, add this to the long list of government crimes and usurpations committed against the American people.

No doubt the politicians and their State-controlled agents in the press will actually hail President Trump’s arrest as shimmering validation that “no one is above the law.”  What poppycock!  What glittery abuse of power.  What abominable descent into tyranny!

If Bill and Hillary Clinton had ever been properly charged for their decades-long crime spree involving perjury, rape, investment swindling, real estate scams, stolen White House furniture, Chinese bribery, campaign finance violations, family foundation fraud, mishandling of classified secrets, conspiracy to defraud the United States with the Russia hoax, Epstein-linked prostitution and child-trafficking, or their uncanny proclivity for leaving a trail of dead associates in their wake, their rap sheets would stretch from here to the moon.  Had Barack Obama ever had to properly answer for illicitly using the IRS, EPA, DOJ, FBI, and Intelligence Community to target, harass, and persecute his political opponents or account for his stunning success in using his political office to transition from one of America’s poorest presidents to one of its wealthiest, he and his wife would not so absurdly yet flippantly claim that his presidency was aboveboard and “scandal-free.”  If there were not a two-tier “justice” system that exists only to protect Deep State friends and demolish Uniparty enemies, Joe Biden’s notorious reputation over the last half-century as a bought-and-paid-for stooge of foreign governments and domestic crime syndicates — with a family of drug users and reprobates who profit solely from his politically-protected name — would have at least kept him far from the White House, if not serving time in prison.

Only Donald Trump — the man who donated his salary for serving the American people and who has lost a fortune parrying endless and spurious criminal, civil, and regulatory attacks — finds himself in legal jeopardy, with his life, liberty, and property all on the line.

https://thespectator.com/topic/great-comeuppance-economy-silicon-valley-bank/

You can measure the health of the American republic, or at least its governing institutions, on a weekday-morning Acela train from Washington to New York. It’s too expensive to use for pleasure ($337 if you plan late and are unlucky), too time-consuming (almost three hours for the 225-mile trip) to permit idling in the café car. So the train is always full of strivers, working their cell phones. On Tuesday morning, the phone chitchat was anxious. Even in Washington, where analysts and economists had been working all weekend to contain the collapse of Silicon Valley Bank, the reeling of the financial system when markets opened on Monday caught people by surprise.

It shouldn’t have. The last time bankers ran off with the savings of their compatriots was only fifteen years ago. A lot of people at the time asked: “How could we have been so gullible?” But really, Americans, Englishmen and other finance-dependent peoples had reason to be trusting. The young bankers in all those photos from the time may have looked ridiculous — standing with their backs to the plate-glass windows of a Lehman Brothers conference room to receive their walking papers, or lined up with cardboard boxes to cart their office possessions home. But what strikes us now is that they were so numerous. There were whole skyscrapers full of them, devising their multivariable hocus-pocus and bragging about their sailboats to young women in wine bars after work. Few liked them as a group. But they seemed the product of a real, stable, indispensable service industry. By contrast, whenever SVB has been mentioned in recent days, you see a lot of B-roll of automatic teller machines. You wonder if they have any employees. Whenever the cryptocurrency-focused Signature Bank is mentioned, you see empty shop fronts in malls. You wonder if they have any customers.

https://quadrant.org.au/opinion/money/2023/03/risky-and-risque-banking-business/

” A $100 five-year bond paying 1 percent becomes worth much less than $100 (about $80 I think) if interest rates rise to 5 percent. Thus SVB realised steep losses when forced to sell bonds. Makes no sense unless you’re incompetent, hired to satisfy DEI requirements. Or distracted, occupied by the skin colour and sexual wotnots of you and your colleagues.”

Tucker Carlson of Fox News enjoyed himself the other day (15 March), making fun of the very woke Silicon Valley Bank (SVB). The risk manager of the UK arm of the bank – which sold for £1 to HSBC – described herself as a “queer person of colour from a working class background.” What has that do with banking or risk management, Tucker queried; as he did other woke performances from both SVB and, its fellow failed bank, Signature Bank. Apropos dancing bankers. Apropos a seminar on gender-neutral pronouns hosted by Signature Bank’s president Scott Shay, and featuring Finn Brigham, who identifies as a ”genderqueer trans male.” I can’t define that for you.

I worked in the second half of the 1980s for State Bank Victoria (SBV not SVB) as chief economist. You can’t imagine a set of people less woke. Yet the bank failed in 1991. So it isn’t wokeness per se that brings down a bank. It’s inattention to risk management. However, wokeness, particularly when exhibited in the cause of diversity, equity and inclusion (DEI), surely doesn’t help. It can mean that focus is taken away from the main game. And it can mean that people are employed and promoted on the basis of irrelevant criteria such as skin colour, sex, sexual preference and having gender-bending proclivities.

Risk management is a serious business. In fact you can say it’s the only game in town when it comes to commercial banking. At its core, banking itself requires few skills. Money is accepted on deposit at one rate of interest and then lent at a higher rate. Costs are paid and profit is earned. In normal times, it’s hard to make a mess of that. Thus bankers on the whole are not the brightest kids on the block. They don’t need to be.

A true story. Waiting in line to get the bad news of my redundancy, following the failure of SBV, a fellow executive, older than me and also for the chop, spoke to me in his distress. He told me of his father saying to him, “you’re not that good at schoolwork son, a bank’s the place for you.” He wasn’t at all sure what he would or could do next.

Run of the mill banking is one thing, when it comes to bank risk management, bright people are needed.

http://www.swtotd.blogspot.com

Sustainability is an over-used word. Or is it? Googling the word generates over three billion hits, almost three times the number of hits generated by its parent, sustain. It is a relatively new word, first appearing in the United Nation’s 1987 Brundtland Report, which defined sustainable development as meeting “the needs of the present without compromising the ability of future generations to meet their own needs.” It generally refers to climate and the environment and what man is doing (or not to doing) to sustain it, along with racial, gender and equity issues. Wikipedia defines sustainability as “a societal goal that relates to the ability of people to safely co-exist on Earth over a long time.” (Sustain is defined: to support, uphold, or strengthen.)

In 2015, the United Nations adopted a collection of 17 interlinked objectives called Sustainable Development Goals (SDGs), which include: the elimination of poverty, reduced inequalities, climate, peace, justice, decent work, responsible communities, and strong institutions – all goals with which no reasonable person would disagree, but also words whose definitions are amorphous, and which can vary with user. Nevertheless, woke universities and colleges have been quick to add “Sustainability Institutes.”

But might the word be more inclusive? We must harbor our resources and protect the environment. But we must not constrain man’s propensity to create and adapt. It was underestimating man’s capacity to innovate that led to Thomas Malthus’ faulty prediction in 1798, that population growth would exceed resources. People need the freedom to express ideas, and the freedom to go where aspiration, ability and dedication take them. For that they need a sustainable political environment, which allows for individual freedom, functions under the rule of law, includes property rights, and provides access to free markets.

https://amgreatness.com/2023/03/17/feds-foreign-corruption-double-standard/

At the same time Department of Justice officials were using spying and corruption statutes to aggressively pursue Donald Trump’s allies based on what turned out to be rumor and innuendo, they declined to use those same laws to investigate evidence of wrongdoing involving Biden family members and one of their corrupt Chinese business partners, Justice Department documents and federal court records reveal.  

In 2016-2017, the evidence shows, the FBI raided the offices and intercepted the communications of Chi Ping “Patrick” Ho, a Chinese national suspected of espionage even as he was negotiating business deals with former Vice President Joe Biden’s son Hunter and brother James. 

The Justice Department later used information obtained from the searches and wiretaps—which included conversations with the current president’s son and brother—to convict Ho of bribery and money laundering, as part of a separate corruption case involving United Nations officials. But it declined to tap into its trove of evidence—including “over 100,000 emails”—to explore the connections between Ho and the Bidens, who received millions of dollars from Ho and a Chinese intelligence front and discussed sharing office space. 

At Ho’s 2018 trial, prosecutors hid Hunter’s connection to Ho, redacting his name from court exhibits (see here) while describing Ho as “the person who flies around the world paying bribes to advance the interest of the oil company [CEFC China Energy],” according to hearing transcripts. 

A federal database shows the Bidens failed to register as foreign agents while engaged in activities on behalf of CEFC, a state-owned entity suspected of being a front for Chinese intelligence. Federal anti-spying laws require anyone acting as a lobbyist for a foreign power to register with the Justice Department under the Foreign Agents Registration Act (FARA).  

The Justice Department did not prosecute either Biden family member for potential violations of FARA for representing the interests of the Chinese.  

This stands in stark contrast to the Justice Department’s aggressive pursuit of alleged FARA violations involving no fewer than six Trump campaign officials. In August of 2016, shortly after receiving a tip that a low-level Trump campaign volunteer, George Papadopoulos, had allegedly been told that the Russians might have dirt on Hillary Clinton, the bureau opened FARA investigations into Papadopoulos and three other Trump associates with no clear ties to Papadopoulos: national security adviser Michael Flynn; campaign manager Paul Manafort; and campaign adviser Carter Page. The FBI subsequently investigated Manafort’s deputy Rick Gates and Trump’s Mideast adviser Walid Phares under the same statute.