Ripped From The Headlines, December 14, 2022
WHITE HOUSE pump & dump? Pandemic loans coming due at the worst time, Binance under stress. Read, share, subscribe - Sherloc Exposes
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“Karine Jean-Pierre, the press secretary for President Joe Biden, quickly brushed off the question when it came in toward the end of her daily press conference Tuesday. No, she said, there was no chance that anyone in the White House leaked the November inflation report before its 8:30 a.m. publication. Too much fuss was being made, as she saw it, over what were just ‘minor market movements.’
But there was nothing minor about the rally that took hold in the seconds before the better-than-expected inflation number hit the Labor Department’s website.
Stock futures suddenly spiked more than 1%. Trading in Treasury futures surged, pushing benchmark yields lower by about 4 basis points. Those are major moves in such a short period of time — bigger than full-session swings on some days. And they should get scrutinized by regulators, long-time market observers say, even if a leak is only one of several possible explanations for why traders suddenly started buying right before the report was published.”
“Many small businesses that received federal pandemic aid are now on the hook for repayments, and some say the timing couldn’t be worse.
WrightIMC, based in Allen, Texas, borrowed $150,000 from the Small Business Administration’s Covid-disaster loan program two years ago. The 20-person digital marketing agency made its first $1,600 loan payment this month, just as ad sales are softening.
The disaster loan ‘has certainly helped us to survive and avoid layoffs,’ said owner Tony Wright, who has frozen hiring and is cutting expenses as customers tighten their belts. ‘Ironically the payback is coming at a time when we are seeing a steeper decline in business than during the pandemic,’ he said. ‘Maybe this isn’t the best time to have everyone start paying back’.”
“There’s nothing in crypto like the New York Stock Exchange, but if the industry has anything close, Coinbase Global and Binance fill that role.
Coinbase is based in the U.S. and provides audited financial statements to investors. Binance, based offshore, is more opaque. And that is causing concern: In the 24 hours through Tuesday, investors withdrew assets from the exchange at the fastest rate in months, and it is facing perhaps one of the biggest stress tests in its five-year history.
‘Withdrawals on the platform highlight the uncertainty and shattered confidence in the space, a desperation not to be caught up in another FTX event,’ said Craig Erlam, an analyst at broker Oanda, in a note on Tuesday. ‘That’s what fear does, especially in a situation where confidence has been so severely damaged, as it has in recent weeks.’”
WTF Wednesday, Ripped From The Headlines. Things To Ponder:
(EDITOR’S NOTE: Words highlighted in orange are clickable links to additional information.)
Leaky Bucket… White House Edition?
The Biden WHITE HOUSE seems to be the gift that keeps on giving…
In addition to a mass inability to complete full sentences, it looks like someone is leaking like a sick pig’s backside, and people got their hands on key info a bit early:
Could you chalk this up to an innocent mistake?
Maybe, but at best it’s incompetence (which seems to be a recurring theme), or, at worst, its gross negligence/criminal.
How does this happen, make front page news, and people are just OK with it?
Know. Your. Foe.
Government loans & bad timing… the OTHER gift that keeps on giving...
Those economic disaster (EIDL) loan repayments are really badly timed…
The government hasn’t helped out much by killing productivity, and massively mismanaging the economy…
And, once again, the chickens have come home to roost.
What’s going to happen when there’s more month than money?
“Crypto Savior” on the brink…
Changpeng Zhao, CEO of Binance, described himself as a “crypto savior” when #FTX went under…
He’s the one who accelerated the process.
Sherloc Exposes told you a while back that you needed to keep an eye on Binance, as they had issues of their own.
$1 billion dollars left the Binance platform yesterday, which prompted Zhao to take to Twitter to calm the seas:
“There is no amount of withdrawals that would put us under pressure,” Zhao said.
Famous last words…
You might want to screenshot that quote.
What does this mean?
Things are worse than you were thinking they were… and now you can see it clearly.
This is one of the big reason we chose to do Ripped From The Headlines… so you can be out in front of what’s coming.
Note the market manipulation and “no big deal” leak of market moving CPI numbers… and the power play for Cryptocurrency…
If they can scare you enough…
With a situation they created…
They can pay off the people that need to be paid, and make it look like a mistake…
They can also provide you a solution you’ll take… like the Central Bank Digital Currency (“CBDC”).
That ain’t good.
Why should I care?
Practical things like food and supplies appear to be in danger of not being available are already unavailable in mass, and your ability to travel will likely also be impacted in the near future.
You should REALLY care.
What should I do?
Study EVERYTHING you can find on parallel and alternative economies.
Prepare to implement it.
If you are blessed to have means, start thinking about what you, your family, and your community are going to need, and how commerce will happen in a super local economy.
Tell people about what’s happening. Don’t argue, SHARE. Let them see it for themselves, then subscribe them to this newsletter.
Now.
Your future depends on it.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
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