ECP NetHappenings Newsletter Ohio, Philly, Russia, Debt, Bitcoin 2-16-23

 

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Headlines

A local Georgia prosecutor just got her green light to indict people associated with Trump’s attempt to fake Georgia election results.
DA Fani Willis may “seek indictments where she finds sufficient cause.”
lawfareblog.com and dailybeast.com

Meet Ghislaine: Daddy’s Girl
Absent from mainstream discourse on Ghislaine Maxwell’s ongoing trial is any mention of the ties, not only of herself, but her family, to Israeli intelligence. Those ties, forged by Ghislaine’s father Robert Maxwell, are critical to understanding Ghislaine’s history and her role in Jeffrey Epstein’s sexual blackmail and trafficking network.
“Sexual blackmail, has been used by intelligence agencies…since the 1940s & beyond, it is deeply troubling that neither the blackmail or intelligence angle has played any role in the prosecution’s case or in the mainstream media’s coverage of the trial.”

@Jose_Pagliery
Feds had a confession letter. Private Venmos. Uber receipts. Flight records.
Yet they still won’t prosecute Congressman Matt Gaetz.
This is all the more stunning, because @SollenbergerRC & I were the ones who exposed the evidence for @thedailybeast

#Ohio

CORPORATIONS WILL KILL YOU!
LAWS AND COURTS ARE THERE TO REGULATE THEM TO PROTECT THE CITIZENRY.

Trump is to blame for the disaster not Biden.
The CORPORATE MEDIA MOB isn’t FOCUSED on REPORTING the OFFICIAL POLITICAL PRESIDENTIAL RECORD by TRUMP
That would AFFECT CORPORATE, REPUBLICAN, GLOBALIZED WALL STREET PORTFOLIOS projected investment plans 🧖🏼‍♂️ by DICTATORIAL SAUDI, FOSSIL FUEL COUNTRIES @JoyAnnReid

Trump Rolls Back Train-Braking Rule Meant to Keep Oil Tankers from Exploding Near Communities

The SUPREME COURT RECENT EPA RULING to ALLOW UNSAFE PRACTICES without REGULATIONS of “ TOXINS” on TRAINS ( 20 miles LONG, near RESIDENTIAL AREAS, is a THREAT to HUMANITY, HABITATS, ANIMALS, PERMANENT DESTRUCTION @SimpleSCOTUS @SenWhitehouse

East Palestine, Ohio should be on the front page of every newspaper in America. Norfolk Southern, whose train derailed in East Palestine Ohio unleashing chemicals on the town and states down river made a record $12 billion in 2022. Instead of investing in safety they authorized a $10 billion stock buyback Capitalism Kills regardless of political party.
Wake Up

Sherrod Brown @SenSherrodBrown
I’m urging NTSB and EPA to hold Norfolk Southern accountable for the train derailment in East Palestine, Ohio. We’ve got to do right by Ohioans and others who have been forced to flee their homes because of hazardous materials in their community.

Republican Ohio governor Mike DeWine
has refused federal assistance from President Biden, who, he said, called to offer “anything you need.” DeWine said he had not called back to take him up on the offer. “We will not hesitate to do that if we’re seeing a problem or anything, but I’m not seeing it,” he said.
Just over the border, Pennsylvania governor Josh Shapiro, a Democrat, said that Norfolk Southern had botched its response to the accident. “Norfolk Southern has repeatedly assured us of the safety of their rail cars—in fact, leading Norfolk Southern personnel described them to me as ‘the Cadillac of rail cars’—yet despite these assertions, these were the same cars that Norfolk Southern personnel rushed to vent and burn without gathering input from state and local leaders.

#Philly

A weak Philly Fed headline number just now. This series is coincident so not necessarily that insightful, just a kindly reminder to the bulls of what stage of the cycle the US economy is currently in.
US PHILLY FED BUSINESS INDEX ACTUAL -24.3 (FORECAST -7.5, PREVIOUS -8.9) $MACRO

Federal Reserve Bank of Cleveland President Loretta Mester said Thursday inflation remains too high and noted that she was open to raising rates by more than her colleagues wanted at their last monetary policy meeting.

#Russia

Russia has always been like that
This is from George Kennan’s “Long telegram” written in 1946, and every word of it is true today

@davidfrum
Possible new state slogan. “Florida. If your business can navigate Communist China, it won’t have much to worry about here.”

On the left, Republican Senator Mike Lee feigns outrage during the State of the Union when President Biden suggests that some Republicans want to cut Social Security and Medicare. On the right, Mike Lee says he wants to get rid of Social Security, Medicare, and Medicaid.

Luke Zaleski @ZaleskiLuke
You’re living through the largest longest coordinated propaganda campaign and hostile takeover attempt in the history of humanity, folks. And if you think it’s unrelated to Elon replatforming every vaccine and election disinformationalist and wingnut you’re not paying attention.

Why is DeSantis gearing up to TRIPLE the size of guards in this state ?
Tim Snyder “On Tyranny” says
“Nazi storm troopers began as a security detail clearing the halls of Hitler’s opponents during his rallies”

DeathSantis is using Hitler’s logistics to get rid of what he thinks are undesirables but actually they’re anyone who stand’s up to the new face of Nazism. Fascists like DeSantis have no interest in helping citizens; their only interest is in controlling what they can read, who they can love, and ensuring that those at the top end of the economy get an ever-increasing share of the pie.

Ron DeSantis is counting on journalists not connecting him to Floridians losing their health coverage
“Florida remains one of the 11 holdout states that have not adopted Medicaid expansion. If the state did so it could provide health coverage to 800,000 Floridians while saving the state $3.5 billion”

#Debt

President Biden @POTUS United States government official
In 2020, 55 of the biggest corporations made billions while paying less than a nurse in federal income taxes.
Because of the law I signed, they now have to pay minimum 15%.
House Republicans want to get rid of this and other corporate reforms – adding $296 billion to the debt.

Attention, Reporters! Here he is. Larry  has a Twitter account.
https://twitter.com/LHSummers Anyone can contact his people to ask questions about Epstein that Larry Summers won’t answer. Go for it.

The Debt Collective @StrikeDebt
People who are not rich must borrow to afford college. So in the long run, they wind up paying *more* for college than rich people who pay out of pocket upfront. In this way, student debt operates as a poverty tax—a form of punishment for being poor and wanting higher education. Poor people always end up paying more. Lower credit scores means higher interest on a car loan, larger deposit and rent on an apartment, not to mention overdraft charges or lates fees when a surprise (often medical) bill hits between paychecks. It’s so expensive to be poor.

#Bitcoin

Mark Ross: I do not invest in #Bitcoin. I save in #Bitcoin.
Big difference in view point, expectations and time frames.

Bitcoin is default protection on a basket of currencies, it’s insurance on a basket of Fiat. ~ Greg Foss

Bitcoin >$25K for the first time in 6 months, love to see it.

Mt. Gox’s 2 Largest Creditors Pick Payout Option That Won’t Force Bitcoin Selloff:
The early lump sum payment they picked is set to be paid out in September 2023. The option to wait until all Mt. Gox litigations settle could net higher payouts but may take another 5-9 years, sources said.

So a person that conspired with the Proud Boys to try and overthrow the U.S. government is also the same person who “educated” grifter Miami Mayor Francis Suarez about Bitcoin. Some truly #BecauseMiami content right here.
Eryka Gemma Flores was once a relatively obscure crypto promoter in Miami.
Now, she’s accused of providing the Proud Boys with a detailed plan to overthrow the U.S. government.

Educational CyberplayGround: NetHappenings Politics, AI, FTX, Debt, Good News

#POLITICS

Why are there so many tech layoffs, and why should we be worried?
As layoffs in the tech sector mount, Stanford Graduate School of Business Professor Jeffrey Pfeffer is worried. Research – by him, and others – has shown that the stress layoffs create takes a devastating toll on behavioral and physical health and increases mortality and morbidity substantially. Layoffs literally kill people, he said.
Why are so many tech companies laying people off right now?
The tech industry layoffs are basically an instance of social contagion, in which companies imitate what others are doing. If you look for reasons for why companies do layoffs, the reason is that everybody else is doing it. Layoffs are the result of imitative behavior and are not particularly evidence-based.

Texas Paul Schroder @Paultx890
FYI, cutting funding to cripple the IRS by Republicans has to pass through not just the House but also the Senate. It must also survive a Presidential veto. It’s dead before it finished leaving the vocal cords of those traitor bastards.

Senator Amanda Cappelletti @SenCappelletti
I was just called “out of order” in committee for calling January 6, 2021 exactly what it was: an insurrection.

WOW: After Dr Dre got her locked out of her Twitter account for stealing his music, Marjorie Taylor Greene just ATTACKED his “thug” lyrics.
Is there anything more Republican than appropriating a Black man’s music AND attacking it with racist dog whistles at the same time?

Kevin McCarthy agreed to cut aid for Ukraine 🇺🇦 to secure enough votes to become Speaker of the US 🇺🇸 House of Representatives, reported The Telegraph

@emptywheel
The people pretending there are hairs to split between the Biden and Trump docs story are missing one of the funniest differences.
At the time–continually since 2008–Biden had clearance.
Trump did not.
Anyway the crime in question–18 USC 793e–is refusing to give [classified] docs back.
Biden gave them back.
Trump still hasn’t.

The moment they were discovered they were all returned – they were not hidden or moved to another hiding place.
No search warrant was needed.
No affidavit falsely asserting all were returned was made.
No special master from a special’ judge was ordered.
Traditionally, former Presidents continue to receive classified intelligence briefings Biden did not extend this courtesy to Trump because of the security risk he presented *before* classified documents were found at MAL.

#AI

Cybercriminals Starting to Use ChatGPT – Check Point Research
hatGPT has also added some spice to the modern cyber threat landscape as it quickly became apparent that code generation can help less-skilled threat actors effortlessly launch cyberattacks.

Researcher Deepfakes His Voice, Uses AI to Demand Refund From Wells Fargo

“Kids are using AI to write essays and get straight A/s”
Will AI Art Help or Hurt Artists?
Imagine creating an entire painting by typing a few sentences. AI tools like Stable Diffusion will forever change how people create art. But will AI help or hurt artists? And what lessons can we learn from history on how this will play out? The AI model trains using images from other artists without their permission. As you can imagine, this has ethical implications.

#FTX

Sullivan & Cromwell, FTX Lead Counsel in Bankruptcy, Says It Has No Adverse Relationships, Despite Representing Four of FTX’s Crypto Exchange Competitors Andrew (Andy) Dietderich, Law Partner at Sullivan & Cromwell Sullivan & Cromwell ranks among the oldest law firms in America. It was founded 144 years ago by Algernon Sydney Sullivan and William Nelson Cromwell in Manhattan’s financial district. During the financial bust in the 1930s, Sullivan & Cromwell […]

JPMorgan Chase Hit with Lawsuit for Facilitating Jeffrey Epstein’s Crime Network; Similar Charges Were Brought Against It for Facilitating Madoff’s Ponzi Scheme

#DEBT

2022 Visualizing $65 Trillion in Hidden Dollar Debt
FX swap debt a $80 trillion ‘blind spot’ BIS says

No less than $65 trillion in unrecorded dollar debt circulates across the global financial system in non-U.S. banks and shadow banks. To put in perspective, global GDP sits at $104 trillion.

This dollar debt is in the form of foreign-exchange swaps, which have exploded over the last decade due to years of monetary easing and ultra-low interest rates, as investors searched for higher yields. Today, unrecorded debt from these foreign-exchange swaps is worth more than double the dollar debt officially recorded on balance sheets across these institutions.

No less than $65T in unrecorded debt circulates across the global financial system in non-US banks & shadow banks today

Visualizing $65 Trillion in Hidden Dollar Debt
READ https://elements.visualcapitalist.com/visualizing-65-trillion-in-hidden-dollar-debt/

We’ve charted the rise in hidden dollar debt across non-US financial institutions & examined the wider implications of its growth:
According to the BIS, non-banks outside the US owe a mind-blowing $25 trillion in missing debt. And if that wasn’t enough, non-US banks owe an additional $35 trillion. It’s more than the combined total of US dollar Treasury bills, repurchase agreements, and commercial paper.
No problem – just create more! That’s the game.

Or….  maybe there is no such thing as a debt. There is only wealth transfer.

Fix The Money

Stack sats, separate money from state, end war, make the world a better place.

Total global debt is somewhere in the neighborhood of 400 trillion.
Couple that with total global assets and you get to 900 trillion USD.
Now say #bitcoin only absorbs 5% of that 900 trillion, that gives you a price target of 2.2 million per #bitcoin. Math is fun.

White Hat Gummo @GummoXXX Dec 13, 2022
#Binance should not be trusted. If you have money with this outfit you should remove it. #cryptocurrencies
Being kind to others is probably one of the best fucking things you can do today & everyday..
As per his claims, he says he is holding 171,347.32 BTC with BTC trading at $16,962 per coin, his stack is worth $2,906,387,814 today.

@GummoXXX teaching at https://www.ju.edu/
#hacker #blackhat | Hacker since 1986.
Ponte Vedra Beach, Florida
#Ethereum is an un-trusted biased network
Nov 21, 2022
Guys, if some #bitcoin or crypto evangelists is selling books, offering advice, has a telegram channel, website, app, has a significant ostentatious tone, it’s probably #bullshit these fuckers getting on stages at these crypto conferences are all fucking frauds. DONT send them $!
fun fact : I learned how to read & write aramaic by the agE of 14 😉 my colleagues used to trip out when they would see my notes ha!

Nov 10, 2022
…typical crypto scams be like

1. Has a telegram channel
2. Cannot be verified through ANY legitimate diligence
3. Obscure technologies
4. Operates outside of United States Jurisdictions
5. Usually some self professed crypt0 ‘god’ supposedly has the ‘secret’
6. +4% rtn

Good News

99% Efficiency: Princeton Engineers Have Developed a New Way To Remove Microplastics From Water

FDA Approves Alzheimer’s Drug Lecanemab Intended To Tackle The Root Of The Condition And Slow Cognitive Decline Amid Safety Concerns What many regard as a milestone approval has been tainted by reports of deaths that may have been caused by the therapy. Lecanemab, the second medication to treat Alzheimer’s disease and delay cognitive decline, has been given the green light by the US Food and Drug Administration (FDA). Researchers applaud the decision, but the joy is tempered by reports that the FDA acted incorrectly when it approved the first such medicine last year and patient deaths.