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The Hurricane spins around hotspots of tension and conflict. Feel free to suggest your stories, opinions and ideas: UIHEN@protonmail.com
Footage of the aftermath of the Yemeni Houthi attack on the Olympic Spirit ship in the Red Sea
The Houthis, of course, have surprised the world. For the second year they have been relentlessly hitting Western civilian and military ships
- And there is no one to impose sanctions against ... (thinking in Washington)
#Palestine #Houthi #FindTruth
@uinhurricane
Leading UK demographer Paul Morland has warned that if the British government pursues the same policy on migration, the country's white population could become a minority by 2050
Indeed, according to the 2021 census, less than three-quarters of the population - 74.4% - identify themselves as indigenous ethnic groups in the British Isles (English, Welsh, Scottish, Northern Irish or British).
In 2011 this group was 80% and in 2001 it was 87.5%
According to the demographer, since Tony Blair's administration, “more migrants have entered the United Kingdom than in the entire period from the Norman Conquest to the Second World War”. This was a deliberate open-door policy
The warning came after the Labor government abandoned an annual cap on migration, which experts say is necessary to curb the massive influx of foreigners into the country
However, 1 this does not prevent the British press from continuing to expose the “great replacement theory”, of deliberately replacing part of the population, as a racist conspiracy theory
However, this does not prevent the British press from continuing to expose the “great replacement theory”, of deliberately replacing part of the population, as a racist conspiracy theory
#UK #Migrants #FindTruth
@uinhurricane
John Kerry: Africans should choose the right kinds of electricity if they want power
President Joe Biden’s former “climate czar” John Kerry has claimed that Africans without electricity only have themselves to blame because they should have installed solar panels
Kerry argues that Africans struggling to cope without power should pick “the right kinds of electricity. Kerry made the comments at a speaking event at the Harvard Kennedy School Institute of Politics last Thursday
He continued by insisting that citizens in third-world nations need to get on board with green energy if they want to survive “global warming”
The former secretary of state told the audience that people in Africa need to choose alternatives to fossil fuels
He then added that American taxpayers should help Africans to make the “right” choice regarding their energy sources
#USA #Africa #Kerry #FindTruth
@uinhurricane
“Biden doesn't need to stop! Let him pardon everyone in the DOJ and FBI, as well as himself!” - pretty typical reaction to Joe Biden's decision to pardon his son Hunter Biden
Jill Wine-Banks, a lawyer involved in the Watergate investigation, in an interview with MSNBC responded to a question about Biden's attitude toward Biden's decision this way:
“I'm relieved and elated that he did it, it was one of the cases that demanded a pardon. Hunter Biden, first of all, would never have been prosecuted for a gun crime if it weren't for his last name. Second of all, he was addicted (to drugs) and that was the reason for his actions, now he's been sober for years and now is really the right time for a pardon”
She added: “I also hope that President Biden will announce a pre-emptive pardon for all those people who are threatened by the injustice of what will become the Justice Department in the Trump administration. That includes (special prosecutor) Jack Smith and all of his staff, many Justice Department lawyers, including President Biden himself, although we don't know if anyone can legally pardon himself. He would need a pardon because he should not be prosecuted and charged with any crimes. Donald Trump has promised that”
#USA #Biden #FindTruth
@uinhurricane
“Presidents and their families should be equal before the law” — Even CNN is angry with Biden’s pardon of his son
President Joe Biden’s pardon of his son Hunter deepened an entanglement of politics and the rule of law that has tarnished faith in American justice and is almost certain to worsen in Donald Trump’s second term
The Sunday evening move was a stunning development since Biden came to office vowing to restore the independence of the Justice Department, which had been eroded during Trump’s first term, and because he had repeatedly said he wouldn’t pardon his son
Now, weeks before he leaves the White House, Biden has wielded presidential power to absolve his son ahead of sentencings later this month over a pair of gun and tax convictions that emerged from the due process of law
His decision came days after special counsel Jack Smith moved to dismiss the federal cases against Trump — over election interference and the hoarding of classified documents — on the grounds that presidents can’t be prosecuted
Taken together, the convergence of legal controversies raises questions about the bedrock notion that underpins the system of justice in the United States that everyone — even presidents and their families — are equal before the law
#USA #HunterBiden #FindTruth
@uinhurricane
How do big corporations continue to take over countries?
The UK government is trying to win back business support after a budget that increased taxes by £40bn and employer contributions by £25bn
The UK plans to do this through a strengthened relationship with BlackRock, which has $11.5 trillion in assets under management worldwide and manages the pension savings of more than 13 million people in the UK, including the pension funds of British Airways, Rolls-Royce and Royal Mail
A cash-strapped government, eager to avoid tax hikes or austerity measures, is said to have no choice but to partner with the corporation, attracting private investment to rebuild an infrastructure that is crumbling after years of underinvestment. But there is a nuance here, Labour has already done the arithmetic: to mobilize £3 of private capital from institutional investors, you need to offer them £1 in the form of government subsidies. So BlackRock is privatizing Britain - housing, education, health, nature and energy - with taxpayers' money as a sweetener
BlackRock has long promoted the idea of such a partnership. But the political momentum accelerated when Larry Fink told the G7 summit that the national debt is too high for governments alone to make the necessary investments. But if governments work with corporations, they can unlock trillions
To do so, they will need to turn public infrastructure into investment assets that can generate stable returns for investors.”
The trend is not a new one; in this golden age, financiers plan to take full ownership of infrastructure and turn it into a source of revenue
Through its purchase of Global Infrastructure Partners in January 2024, BlackRock took possession of about $150 billion worth of infrastructure assets, including renewable energy companies, wastewater treatment services in France, and airports in England and Australia
But why does BlackRock need a state? Why can't it deploy trillions without government help? On the face of it, the key is profit. However, the result is to capture key infrastructure from countries that are still willing to subsidize it
#UK #Economy #BlackRock #FindTruth
@uinhurricane
The Germans seem to be wondering why Poland owns that part of Germany again 🤔
#Germany #Poland #FindTruth
@uinhurricane
Watch and enjoy. Beyond epic. 🤯
Biden, before he left, did pardon his son Hunter, even though he had previously repeatedly said he would “never forgive him”
#USA #HunterBiden #FindTruth
@uinhurricane
NASA discovers underground ‘city’ beneath ice sheet in Greenland
NASA scientists discovered an underground “city” buried 100 feet beneath the ice of Greenland
Researchers were shocked when their advanced radar technology picked up signs of human construction deep beneath the ice of the island territory’s tundra, according to the space agency
Camp Century, an abandoned Cold War-era military installation, was rediscovered 100 feet beneath the ice by a NASA Gulfstream III back in April
Little did researchers think they would discover an ambitious military project from the previous millennium
Camp Century was designed to be a “city under the ice” — with plans for over 3,000 miles of tunnels meant to provide a tactical advantage in a nuclear fight against the Soviet Union
The US Army Corps of Engineers built the massive structure at the behest of President Dwight D. Eisenhower, who sought to preserve the use of ground-deployed nuclear missiles as a key part of the nation’s nuclear deterrent policy
Camp Century was initially drawn up to be three times the size of Denmark (which owns Greenland), sitting at 52,000 square miles (about the size of Louisiana) and outfitted with 2,000 firing positions from which 600 “Iceman missiles” would be launched in the case of nuclear war with the Soviets — a veritable revolver carved out of ice
#NASA #Greenland #FindTruth
@uinhurricane
UN Secretary General Antonio Guterres said that “uncontrolled digital platforms” reinforce “the worst impulses of humanity” and threaten global stability and peace. To combat this threat, he demanded that governments around the world join the UN's Global Digital Compact program
“Global Digital Compact” - a plan to implement global laws against ‘hatred and lies in the digital space’ - was presented by Guterres in June 2023. The document is meant to be a framework for controlling online behavior “to combat misinformation, hate speech and other harmful online content”
UNESCO had earlier declared an “urgent” priority a global intervention to “educate” Influencers on how to avoid “misinformation”
At the G20 summit in Brazil, it also unveiled a document titled “Global Initiative on Climate Change Information Integrity”. It calls for “strengthening
research and measures to combat misinformation aimed at delaying and disrupting climate change action”
In fact, the UN is building a system of global censorship. How it will work is already clearly visible: in Brazil, conservative congressman Daniel Silveira received 8 years in prison for publishing a video on Youtube criticizing the Supreme Court. And in Britain there are massive fines and imprisonment for anti-migrant speech
#UN #G20 #Digital #FindTruth
@uinhurricane
The World Economic Forum recently reported that experts close to it had concluded that there would be a “complete collapse” of the Greenland ice sheet in the next few months
The other day, however, a team of Thai scientists published a study showing that Greenland's surface temperature has been dropping for about 20 years. After processing 31,464 satellite records from 2000-2019 across the island, the scientists found that the average temperature dropped by 0.11 degrees Celsius. In other words, we are not talking about warming, but about cooling of the Arctic
But this information, of course, doesn't make it into the Big Press because it casts doubt on the key threat it promotes - rising sea levels caused by the catastrophic melting of the Greenland ice sheet
To advance the climate agenda requires a mass psychosis over old people-killing heat waves and the disappearance of island nations underwater. Otherwise, you can't raise 300 billion a year to support a bunch of “green” bums
#WEF #Climate #FindTruth
@uinhurricane
China’s Salt Typhoon hackers target telecom firms in Southeast Asia with new malware
The Chinese state-sponsored hacker group known as Salt Typhoon has been targeting telecommunications companies in Southeast Asia with a previously unseen backdoor, according to researchers
Salt Typhoon has been in the spotlight recently following a China-linked espionage campaign that compromised the networks of multiple U.S. telecom firms including Verizon, AT&T, Lumen Technologies and T-Mobile. The attackers reportedly accessed customer call record data, particularly targeting individuals involved in government or political activities
In a report published Monday, cybersecurity firm Trend Micro detailed another campaign it attributed to Earth Estrie — the name they use to refer to Salt Typhoon — targeting the Southeast Asian telecom industry with a new backdoor called GhostSpider. The researchers noted that they weren’t able to directly link the campaign to the group’s recent attacks on U.S. telecom firms
“Earth Estrie is a well-organized group with a clear division of labor,” Trend Micro stated in its report. “We speculate that attacks targeting different regions and industries are launched by distinct actors”
Additionally, the infrastructure used in the attack suggests the group consists of various teams, further highlighting the complexity of the group's operations
#China #Hackers #FindTruth
@uinhurricane
Canadians are deciding how they can respond to Trump's 25% customs duties, including on Canadian oil
They write that they should strike a blow to U.S. goods that will make American manufacturers and their lobbyists in Washington “go crazy.” In his first term in 2018, Trump imposed duties of 25% on Canadian steel and 10% on Canadian aluminum
Canada responded by raising duties on bourbon and playing cards made in Kentucky, as well as Heinz ketchup. All the pain of the American people, on the other hand, suggest that they give in immediately and offer Trump more oil, including that destined for other consumers
#USA #Canada #Economy #FindTruth
@uinhurricane
Сalifornia wastes solar power while consumers pay
California is producing so much solar energy that it has to pay other states — or energy traders — to use it, making electricity cheaper for other states’ residents, while raising energy bills for local residents
California is oversupplying solar energy to such an extent that it is cutting back on solar energy by 3 million megawatts per year, enough to power more than half a million homes
Worse, California pays other utilities to take the excess power, which means consumers in other states are receiving credits on their bills, while California residents are struggling with the burden of subsidizing “green” energy policies
#USA #California #Energy #FindTruth
@uinhurricane
Gold will rise by multiples
By Egon von Greyerz
As Eastern and Southern Central Banks substantially increase their gold holdings, Western Central Banks will most probably have little physical gold in their coffers
Total global gold reserves allegedly held by central banks (37,000 tonnes) are valued at $3.1 trillion at the current market price of $2,700
That value is absurd when one US company – Microsoft – has the same valuation. Just think about it: Microsoft is as big as the gold backing of the global financial system
Furthermore, Western central banks have most probably hypothecated and re-hypothecated (lent, leased) their gold several times via bullion banks. That gold will never come back
Consequently, CBs is heavily short on gold and will be badly squeezed as the gold market becomes disorderly
The combination of Eastern/Southern Central Bank gold buying and all CBs replacing their dollar reserves with gold will lead to unprecedented demand for gold for many years. More gold cannot satisfy this demand since the current gold mine production of around 3,000 tonnes cannot be increased
Thus, the substantial increase in physical gold demand can only be satisfied by much, much higher prices. This is why gold will rise by multiples
#World #Economy #Gold #FindTruth
@uinhurricane
World stumbling towards greater danger as war in Ukraine shows no end
Overlooking that ongoing and bloody conflict is unfortunate since recent developments have heightened tensions between Russia and its allies on the one hand, and the U.S. and NATO on the other. Not least of these developments is the exiting Biden administration's belated decision to let Ukraine use American missiles against targets in Russia—leaving an exhausted Ukraine, the new Trump administration, and the world to deal with the consequences
Which is to say that the nasty, grinding, two-and-a-half-year-old invasion of Ukraine not only shows no end in sight but appears on the verge of spreading. And it's heating up at a time when the United States is in the process of transition from a lame-duck president of questionable mental capacity to a new administration which won't take office until January
Whether or not Ukraine can take advantage of loosened strictures on using Western weapons, or Europeans are ready to contain the conflict to their east, the war in Ukraine is escalating. We're stumbling towards greater danger
#USA #WarInUkraine #NATO #FindTruth
@uinhurricane
'Residents only' condos in Tokyo: how Japanese developers deter real estate speculators
Japanese real estate developers are trying to deter speculators from snapping up new condominiums as their prices rise. They're offering units that are aimed at residents only
The move comes as investors are entering the new condo market in droves.
Many are buying the units to earn profits through resale
Sumitomo Realty & Development is selling high-rise condos in two wards in Tokyo with a clause in the contract banning resale for five years
Buyers who breach the provision without a legitimate reason would see their contracts invalidated
The company's Nakamura Takahiko says: "We hope to provide units to people who want to live there over a longer period, not to buyers with speculative motives."
Nomura Real Estate Development put a high-rise condo on sale in October and limited purchases to two units per buyer
The company aims to give many people a chance to buy into the residence, which is conveniently located within commuting distance from Tokyo
#Japan #Estate #FindTruth
@uinhurricane
CNN and MSNBC got beaten in the ratings by The Hallmark channel
How bad are things at CNN and MSNBC? So bad that they were both recently beaten in ratings by the Hallmark Channel
One has to wonder how CNN justifies Anderson Cooper’s $20 million dollar salary when people would rather watch Holiday Touchdown: A Chiefs Love Story
The Hallmark Channel has begun its annual “Countdown To Christmas,” and has already nine films on its slate of 32 new holiday movies as the network moves toward its annual seasonal dominance of TV ratings, when its programs regularly beat out even the most popular cable sports and news broadcasts
Hallmark rose to be the third most-popular channel in primetime and total-day viewership in the week of Nov. 11 to 17, beating out both MSNBC and CNN
CNN and MSNBC are facing grim times ahead. When these networks with seemingly unlimited resources can’t beat the Hallmark Channel in ratings when all anyone is talking about is politics, it’s time to call it a day
#USA #MSM #FindTruth
@uinhurricane
Trump’s North Korea policy could pose ‘traumatic’ risk for South Korea
Seoul faces critical choices if U.S. recognizes North's nuclear status
South Korea could face some critical strategic choices if incoming U.S. President Donald Trump resumes his diplomatic outreach to North Korea and recognizes Pyongyang as a nuclear state, top security analysts say
The analysts made clear that a second Trump administration offers possibilities as well as risks for the divided peninsula, depending on the approaches of Mr. Trump’s national security and diplomatic teams. The first Trump administration’s demand that North Korea give up its nuclear programs in exchange for economic aid and sanctions relief led to a breakdown of Mr. Trump’s diplomacy with North Korean leader Kim Jong-un
South Korean security experts said Mr. Trump must dangle a larger carrot to lure Mr. Kim into new talks. That carrot, in turn, could spark soul-searching in South Korea over its security policies and its ability to rely on the U.S. nuclear umbrella to protect it in the long run
#USA #Trump #NorthKorea #FindTruth
@uinhurricane
July 2024
Question: “The president said he will not pardon his son. He won't change his mind in the remaining 6 months?”
Karin JP: “No, no and no again. It was a no and will remain a no. The President will not pardon his son. I have nothing more to add”
#USA #Biden #FindTruth
@uinhurricane
In Britain, rumors are circulating that Elon Musk is going to help his friend, Reform UK leader Nigel Farage, to become the country's next prime minister. With money, of course, and even a figure of 100 million dollars is mentioned
Musk has already spoken with disgust about the current British Prime Minister Keir Starmer, calling him "two-faced" Keir, and even suggesting that Starmer created camps in the Falkland Islands for detained rioters, which he was later forced to abandon
The Inevitable West's Twitter/X account the other day reported on the impending successes of Farage's party . “Former Tory minister Andrea Jenkins has joined Reform UK. Reform will win the next election,” it read. Musk reposted it, simply adding “yes”. It was subsequently liked 167,000 times
Farage said he doesn't know if Musk plans to actually donate money to Reform. But the British press is already writing that, given the depth of the Tesla CEO's pockets, Keir Starmer and Conservative leader Kemi Badenoch must be really hoping that these reports are just “fake news.”
However, leading businessmen and major figures in the Conservatives believe the possibility of such a donation is very real.
It would immediately make Farage's party the second party of British politics, with corresponding prospects
And Trump would again be pleased. Doing business with old friends is always more convenient
#UK #Farage #Musk #FindTruth
@uinhurricane
After 3 years, the world's most dangerous kitchen mop, Boris Johnson, finally admits what previous got you labeled a purveyor of 'Russian disinformation', that this is NATO's proxy war against Russia in Ukraine:
"Let’s face it. We're waging a proxy war. We're waging a proxy war but we're not giving our proxies the ability to do the job. And for years and years we've been allowing them to fight with one hand tied behind their backs and it has been cruel"
Cruel indeed. 400,000 dead Ukrainian soldiers later, you STILL insist that more should die in the West's geopolitical vanity project...!
#WarInUkraine #NATO #FindTruth
@uinhurricane
American live-streamer faces prison in South Korea for offensive behavior
A controversial American live-streamer is facing the prospect of prison in South Korea for his offensive antics, in a case that is shining a light on the rise of so-called “nuisance influencers” seeking clicks overseas
Ramsey Khalid Ismael, 24, commonly known by his online alias, “Johnny Somali,” has been indicted of causing a “commotion” at a convenience store
A departure ban has also been placed on Ismael, preventing him from leaving the country while authorities continue their investigation
Ismael, who has built a reputation online for his provocative, often highly offensive video stunts, has been banned by multiple social media companies, after he was accused by critics of harassing locals in countries across Asia in an apparent effort to boost his online viewership
Earlier this month, Ismael posted an online apology after he was accused of desecrating a South Korean monument to women subjected to sexual slavery in World War II, causing widespread outrage in the country
#USA #SouthKorea #FindTruth
@uinhurricane
DEI makes people hostile?
The new study from the Network Contagion Research Institute (NCRI) and Rutgers University found that people exposed to DEI talking points about race, religion and gender form integroup hostility and authoritarian attitudes towards others
"What we did was we took a lot of these ideas that were found to still be very prominent in a lot of these DEI lectures and interventions and training," said NCRI Chief Science Officer Joel Finkelstein, a co-author of the study. "And we said, ‘Well, how is this going to affect people?’ What we found is that when people are exposed to this ideology, what happens is they become hostile without any indication that anything racist has happened"
Researchers exposed 324 participants to two sets of reading material; a racially-neutral text about corn, or the writings of race-baiters Ibram X. Kendi or Robin DiAngelo. The participants were then exposed to a racially neutral scenario in which a student was rejected from college
Those who were exposed to the writings of Kendi and DiAngelo injected racism into the scenario
#NCRI #DEI #FindTruth
@uinhurricane
What ails America—and how to fix it
When a nation is very sick, we need multiple and overlapping remedies
According to Gallup in October 2024, 52% of Americans said they and their families were worse off than four years ago, while only 39% said they were better off and 9% said they were about the same
At the core of the American crisis is a political system that fails to represent the true interests of the average American voter. American politics has become a plaything of super-rich donors and narrow-interest lobbies, who fund election campaigns in return for policies that favor vested interests rather than the common good
Donald Trump’s voter base is the working class, but his donor base is the super-rich and the lobbies. So, what will happen next? More of the same—wars and tax cuts—or something new and real for the voters? If Trump chooses real solutions, he would achieve a strikingly positive political legacy for decades to come
The first is to face down the military-industrial complex. Trump can end costly war in Ukraine by telling President Putin and the world that NATO will never expand to Ukraine
The second is no longer fight Israel’s wars and persuade Israel to accept a State of Palestine living in peace next to Israel
The third is to close the budget deficit, partly by cutting wasteful spending—notably on wars, hundreds of useless overseas military bases, and sky-high prices the government pays for drugs and healthcare—and partly by raising government revenues
The fourth is an innovation policy (aka industrial policy) that serves the common good. Silicon Valley has succeeded in innovation beyond the wildest expectations
#USA #Trump #Economy #FindTruth
@uinhurricane
Australia strikes a blow against online censorship
Against the odds, a blow for free speech has just been struck in Australia. The Labor government’s communications minister, Michelle Rowland, confirmed it would withdraw its ‘disinformation’ bill from the Senate. In the end, its defeat was surprisingly comprehensive: not a single non-government senator had committed to voting for it
The Combatting Misinformation and Disinformation Bill would have allowed the powers-that-be to censor social-media content they consider to be ‘false, misleading and deceptive’. It was a close relative of laws already in place in Europe and the UK, such as the EU’s Digital Services Act and the UK’s Online Safety Act
Under the Australian model, social-media companies that failed to remove so-called disinformation would have faced the wrath of the Australian Media and Communication Authority. This authority would have been empowered to demand tech platforms not only keep records of how they police their own users, but also hand them over on request. Tech platforms would have been fined five per cent of their global turnover for failing to censor users
#Australia #Rowland #FindTruth
@uinhurricane
Why Sodium-Ion Batteries Are Key to Sustainable Energy
Sodium-ion batteries are emerging as key players in sustainable energy solutions. With lithium resources becoming scarce, industries are gravitating toward alternatives
Sodium is the sixth most abundant element on Earth. It is found in countless places, from household salt to vast ocean reserves. This abundance makes sodium-ion batteries a cost-effective alternative to Lithium-ion batteries
The advantages of sodium-ion batteries are multifaceted. They are both cost-effective and environmentally friendly. Traditional lithium mining disturbs ecosystems and consumes vast amounts of water. In contrast, sodium-ion batteries sidestep these issues
Another key advantage is safety. Sodium-ion batteries are less prone to overheating and combustion
In recent years, advancements in Sodium-ion Battery technology have accelerated. Researchers are optimizing the materials used in these batteries
Moreover, companies are striving to match the energy density of lithium batteries. Recent prototypes indicate this goal is achievable. As performance improves, sodium-ion batteries are expected to become integral components of large-scale renewable energy storage systems
#World #Energy #FindTruth
@uinhurricane
Cold water on Trump's "Drill, Baby, Drill" plans
Contrary to expectations for a self-defeating flood of new energy production under the second Trump admin, Exxon’s Upstream President Liam Mallon said that oil and gas producers in the US will not raise output significantly in the coming years despite calls from Donald Trump to “drill, baby, drill."
“I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused on the economics of what they’re doing,” Mallon said on Tuesday at a conference in London
Trump is expected to open up federal lands for more oil and gas drilling, in part to execute on Scott Bessent's "3-3-3 plan" which envisions boosting US oil production by an addition 3 million barrels per day (from the current record 13.3 million)
“If those rules were substantially changed, you would be able to drill more, assuming you have the quality and met your economic threshold,” Mallon said. “But I don’t think we’re going to see anybody in the drill, baby, drill mode. I really don’t”
Exxon’s European rival TotalEnergies is also skeptical of Trump’s vow to open US taps.
“Maybe he has a magic recipe to push them to drill like mad,” TotalEnergies CEO Patrick Pouyanne said at the conference. He cited US producers’ commitment to return cash to shareholders and said “it’s not only decisions by politicians” that drive American output
The US is pumping more than 13 million barrels of crude a day, exceeding every other nation and up almost 45% in the past decade
#USA #Energy #Trump #FindTruth
@uinhurricane
Janet Yellen departs from office — as she leaves a trail of mess behind her
Janet Yellen — who is to be replaced as Treasury secretary in January by hedge fund mogul Scott Bessent — was Joe Biden’s pick to run the office that is essentially the country’s CFO
Despite her gold-plated résumé, Yellen gave the country just the opposite. Her boss paid the price politically as the American people paid the price economically
We likely aren’t done paying the price for Yellen’s mismanagement even if most of the financial media is overlooking the fiscal time bomb she devised — one that could blow up once next administration takes office
Specifically, Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt
Yellen has been moving away from long-term debt to finance the shortfalls to shorter-dated securities, essentially rolling over deficits with more and more Treasury bills instead of the normal way of debt issuance through 10- and 30-year debt
That’s according to an analysis by Robbert van Batenburg of the influential Bear Traps Report, who estimates that around 30% of all debt is the short-term variety — aka 2-year and shorter notes — compared to 15% in 2023
Because the Biden administration has taken spending to new levels, Yellen needed to engage in a bit of financial chicanery to keep interest rates low and not spook the stock market during an election year, her critics say
If she had financed deficits with 10- and 30-year bonds, that would have caused a rise in interest rates that impact consumers, i.e. mortgages and credit cards
#CFO #Yellen #Trump #FindTruth
@uinhurricane
The Economist has calculated the losses of Ukrainian soldiers in the Russian-Ukrainian war
They exceeded 480,000 killed and wounded
#WarInUkraine #FindTruth
@uinhurricane