Is the covid ‘pandemic’ merely economic theatre?

 

Off Guardian Jan 22, 2021

Bringing together the US emergency bank lending crisis and the now massive Covid response, I’ve concluded that one of the main reasons it is happening, apart from the corporate looting, is because of a historic event, the USA’s economic collapse and the dollar’s demise, which started just weeks before this Covid operation kicked off, and has been put on hold by a world wide manufactured economic ‘freeze’.

The end of ‘Extend and Pretend’

A few months before Covid appeared, the Fed were busy pouring literally trillions of dollars into the US banks, to prevent inter-lending bank-runs which were starting to develop. These were the same tectonic fissures that developed prior to the 2008 crisis, where the banks became so distrustful of each other’s solvency, that they massively increased interest rates to each other to factor in the risk. If unsuppressed the lending rates would continue to rise, laying a path to bank failures and a contagion which would eventually derail the economy and undermine the dollar itself.

In September 2019 the Fed intervened in the repo. markets for four consecutive days, pumping $75 billion per day into the banks, as the inter-banking interest rate – the repo rate – peaked at a terrifying 10% [1]. If this level were allowed to contaminate regular highstreet lending, it would cause widespread debt defaults & insolvencies.

The dangers are far greater today because, unlike in 2008, Quantitive Easing (QE) has pushed the Fed to the limits of its credibility, and are forcing them into causing some serious currency debasement. If they continue with the forms of QE they are shackled to, then dollar debasement becomes a certainty in a US economy that is far more fragile & indebted generally and less able to cope.

The Fed must have known for a few years that QE was not returning the economy to economic normality, and that they were still trapped in the solvency crisis of 2008. Knowing this, the Fed were prepared for the latest crisis. They had made it possible to inject hundreds of billions of dollars into the banking system discreetly, unlike in 2008, without any additional Congressional fanfare, via the Financial Stability Oversight Council, formed in 2010.

They had given themselves almost unlimited funds and the resources of the entire government if necessary, to reassure the banks that collapse was impossible. This ‘rescue operation’ was being played out, relatively unreported except in the financial press, only weeks prior to the Covid flu appearing on the world stage. Issuing…

….. cumulative repo loans totalling more than $9 trillion to the trading houses on Wall Street that the Fed had been making from September 17 of 2019 – months before the onset of COVID-19 anywhere in the world…

While Congress subjects the nation to its carefully orchestrated impeachment drama, our civil liberties continue to die a slow, painful death

Rutherford    December 02, 2019

“It is the responsibility of the patriot to protect his country from its government.”—Thomas Paine

While Congress subjects the nation to its impeachment-flavored brand of bread-and-circus politics, our civil liberties continue to die a slow, painful death by a thousand cuts.

Case in point: while Americans have been fixated on the carefully orchestrated impeachment drama that continues to monopolize headlines, Congress passed and President Trump signed into law legislation extending three key provisions of the USA Patriot Act, which had been set to expire on December 15, 2019.

Once again, to no one’s surprise, the bureaucrats on both sides of the aisle—Democrats and Republicans alike—prioritized political grandstanding over principle and their oath of office to protect and defend the Constitution...

The legislation passed the Senate with a bipartisan 74-to-20 vote. It squeaked through the House of Representatives with a 231-192 margin. And it was signed by President Trump—who earlier this year floated the idea of making the government’s surveillance powers permanent—with nary a protest from anyone about its impact on the rights of the American people.

Spending bill or not, it didn’t have to shake down this way, even with the threat of yet another government shutdown looming.

Congress could have voted to separate the Patriot Act extension from the funding bill, as suggested by Rep. Justin Amash, but that didn’t fly. Instead as journalist Norman Solomon writes for Salon, “The cave-in was another bow to normalizing the U.S. government’s mass surveillance powers.”

That, right there, is the key to all of this: normalizing the U.S. government’s mass surveillance powers.

In the 18 years since the USA Patriot Act—a massive 342-page wish list of expanded powers for the FBI and CIA—was rammed through Congress in the wake of the so-called 9/11 terror attacks, it has snowballed into the eradication of every vital safeguard against government overreach, corruption and abuse.

The Patriot Act drove a stake through the heart of the Bill of Rights, violating at least six of the ten original amendments—the First, Fourth, Fifth, Sixth, Seventh and Eighth Amendments—and possibly the Thirteenth and Fourteenth Amendments, as well.

The Patriot Act also redefined terrorism so broadly that many non-terrorist political activities such as protest marches, demonstrations and civil disobedience are now considered potential terrorist acts, thereby rendering anyone desiring to engage in protected First Amendment expressive activities as suspects of the surveillance state.

The Patriot Act justified broader domestic surveillance, the logic being that if government agents knew more about each American, they could distinguish the terrorists from law-abiding citizens—no doubt a reflexive impulse shared by small-town police and federal agents alike.

This, according to Washington Post reporter Robert O’Harrow, Jr., was a fantasy that “had been brewing in the law enforcement world for a long time.” And 9/11 provided the government with the perfect excuse for conducting far-reaching surveillance and collecting mountains of information on even the most law-abiding citizen.

Federal agents and police officers are now authorized to conduct covert black bag “sneak-and-peak” searches of homes and offices while you are away and confiscate your personal property without first notifying you of their intent or their presence.

The law also granted the FBI the right to come to your place of employment, demand your personal records and question your supervisors and fellow employees, all without notifying you; allowed the government access to your medical records, school records and practically every personal record about you; and allowed the government to secretly demand to see records of books or magazines you’ve checked out in any public library and Internet sites you’ve visited (at least 545 libraries received such demands in the first year following passage of the Patriot Act).

In the name of fighting terrorism, government officials are now permitted to monitor religious and political institutions with no suspicion of criminal wrongdoing; prosecute librarians or keepers of any other records if they tell anyone that the government has subpoenaed information related to a terror investigation; monitor conversations between attorneys and clients; search and seize Americans’ papers and effects without showing probable cause; and jail Americans indefinitely without a trial, among other things.

The federal government also made liberal use of its new powers, especially through the use (and abuse) of the nefarious national security letters, which allow the FBI to demand personal customer records from Internet Service Providers, financial institutions and credit companies at the mere say-so of the government agent in charge of a local FBI office and without prior court approval.

In fact, since 9/11, we’ve been spied on by surveillance cameras, eavesdropped on by government agents, had our belongings searched, our phones tapped, our mail opened, our email monitored, our opinions questioned, our purchases scrutinized (under the USA Patriot Act, banks are required to analyze your transactions for any patterns that raise suspicion and to see if you are connected to any objectionable people), and our activities watched.

We’re also being subjected to invasive patdowns and whole-body scans of our persons and seizures of our electronic devices in the nation’s airports. We can’t even purchase certain cold medicines at the pharmacy anymore without it being reported to the government and our names being placed on a watch list.

It’s only getting worse, folks.