Visualizing The $19 Trillion Global Cost Of Conflict

Last year, the economic impact of violence reached $19.1 trillion, or $717 billion higher than the previous year.

This came as conflict deaths hit 25-year highs, and wars continued in the Ukraine and Gaza. In response to heightened geopolitical tensions, European nations have injected billions into defense spending. Even Japan plans to double its defense spending to 2% of GDP.

This graphic, via Visual Capitalist's Dorothy Neufeld, shows the global cost of conflict in 2024, based on analysis from the Institute for Economic and Peace.

Breaking Down the Cost of Conflict

Below, we show the economic impact of violence worldwide, with figures including direct and indirect costs:

In 2024, military spending grew by $540 billion to reach $9 trillion.

Overall, 84 countries increased spending on military as a share of GDP, with Norway, Denmark, and Bangladesh seeing the greatest jumps. U.S. military spending totaled $949 billion, while China followed at $450 billion, in international dollars.

As the second-highest cost, internal security expenditure hit $5.7 trillion. This includes costs associated with policing and the judicial system.

Meanwhile, GDP losses causes by conflict surged 44% in 2024 to reach $462 billion. Compared to 2008, GDP losses have more than quadrupled, while the cost of conflict deaths has followed a similar trend.

Adding to this, the cost of refugees and internally displaced persons (IDPs) had an economic toll of $343 billion. Today, 122 million people globally are forcibly displaced, more than doubling from 2008.

To learn more about this topic, check out this graphic on Europe’s biggest armies.

Tyler Durden Mon, 12/01/2025 - 05:45

'Surgical Removal Of An Organ': Ukrainian Recruiter Arrested For Allegedly Beating Conscript's Genitals In Heinous Attack

Via Remix News,

After a forced conscript was beaten in his groin area to the point that he lost an “organ” following emergency surgery, Ukrainian authorities have moved to arrest the recruitment center head.

The staff of the Ukrainian State Bureau of Investigation (DBR) arrested the head of one of the district recruitment and military service preparation centers (TCK) in the Ivano-Frankivsk Oblast.

The recruiter is accused of brutally beating a conscripted man for refusing to perform a fluorographic examination during the medical aptitude test (VLK), reported by the General Prosecutor’s Office of Ukraine and the DBR, based on the announcements of Ukrainian news outlet Pravda.ua.

The DBR investigated complaints from citizens and parliamentarians that beatings, torture, and demands for money had taken place in a TCK operation in Transcarpathia. Notably, neighboring Hungary has alleged that recruits from the Transcarpathia region are targeted for recruitment at an especially high rate due to them being ethnic Hungarians.

“Investigators uncovered numerous abuses of power committed by a senior officer at the center,” the DBR communication was quoted by the source.

Based on the investigation, it was revealed that the man was sent to the hospital for a VLK examination together with other citizens.

When he refused the examination, the lieutenant colonel deliberately inflicted at least five blows against the victim, targeting the groin area.

As a result, the victim suffered serious physical injuries that required the “surgical removal of an organ.”

The officer was charged with abuse of power during martial law, with serious consequences. On the motion of the prosecutors, the court ordered an arrest without the possibility of bail. Based on the source, it was also revealed that the possible involvement of other persons, including police officers, in the case is currently being investigated.

This beating is likely just the tip of the iceberg, though. As already reported by Remix News, a Hungarian citizen and entrepreneur, József Sebestyén, died in July in the Beregsász hospital after Ukrainian recruiters severely beat him with iron bars in a forest, with the incident also caught on film.

Prime Minister Viktor Orbán has forcefully condemned forced conscription in Ukraine after the beating death. Speaking on Kossuth Radio, Orbán linked the tragic incident directly to the ongoing war, asserting that a country where such events occur due to forced conscription is unfit for European Union membership.

“A country where this could happen cannot be a member of the EU,” said Orbán.

“We are talking about a Hungarian-Ukrainian dual citizen. This entitles us to avoid using cautious language. They beat a Hungarian citizen to death, that’s the situation. And this is a case that we need to investigate, as this cannot happen,” Orbán stated, emphasizing the gravity of the situation. 

He highlighted that while the front lines might seem distant to many Hungarians, “the war is taking place in our neighboring country. The threat is directly here.”

A video post on this topic from Remix News was immediately flagged by X and censored, meaning that EU censors may be jumping on this report due to its sensitive nature.

For years, videos of Ukrainian recruits being dragged off the streets and beaten have been circulating, making the arrest of one of these recruiters quite out of the ordinary.

Read more here...

Tyler Durden Mon, 12/01/2025 - 05:00

Future Of Fertility Chronically Overestimated

The newly released OECD Pensions at a Glance report shows how fertility projections have been wrong again and again over the years, grossly underestimating how much fertility would decline each time.

As fertility rates and pension funds are intrinsically tied, this can cause problems down the line, when incoming payments from workers to pension funds are smaller than expected and payouts to current pensioners exceed them.

As Statista's Katharina Buchholz shows in the following data, the lifetime births per woman in OECD countries sank from 2.2 in 1980 to 1.9 in 1994.

You will find more infographics at Statista

At the time, demographers estimated that the rate would recover up to around 2.1 by the middle of the upcoming century.

By 2002, births rates had declined to 1.66, yet a recovery to 1.85 by 2047 was once again expected.

By 2012, there was actually a slight recovery back up to 1.75 births per women, prompting demographers to expect the number of births to rise to an average of 1.8 per woman by 2050.

Yet, birth rates started to fall again to below 1.5 by 2024, the latest year on record.

Still, the tale of recovering fertility has not been eliminated, as birth numbers are currently projected to rise again, albeit only slightly, to 1.52 by 2050 and 1.54 by 2070.

Many scientists now see the official UN demographic forecasts as conservative estimates and believe that the world population will actually shrink significantly faster than they project.

 A 2020 study published in The Lancet actually calculates that contrary to what UN figures say the world population will have shrunk by 2100 and could potentially already be significantly lower than it is today.

While population growth has been studied at length and models in this field tend to be more reliable, less work has been done on the newer topic of population decline, making calculations more unreliable.

Tyler Durden Mon, 12/01/2025 - 04:15

"Made For Germany" Is History: Covestro Caught In The Waves Of The Sell-Off

Submitted By Thomas Kolbe

Abu Dhabi’s state-owned energy giant ADNOC has acquired nearly all shares of German chemical powerhouse Covestro. Germany is gradually losing its strategic position in critical industrial sectors. The sell-off is accelerating.

Remember the big media spectacle “MADE FOR GERMANY” this past July? Chancellor Friedrich Merz staged a meeting with 61 corporate CEOs, proudly announcing supposed future investments of €631 billion.

Even then, given the ongoing capital flight from Germany, it was clear that the event was mainly a media stunt – a sad attempt to distract the public from the real state of the German industrial base.

Sell-Off Accelerates 

Since that day, Germany’s industrial sell-off has not slowed – it has accelerated. Companies have already made their judgment: suffocating regulations, exploding compliance costs in the name of climate policy, and an administratively hostile environment have turned investments into a risk.

In short: industrial production is being systematically and willfully strangled by lawmakers.

Last week, German chemical giant Covestro grabbed the headlines. This time, it was Abu Dhabi’s ADNOC on a bargain hunt – Black Friday has become a daily routine.

At around €62 per share, for a total transaction value of €15 billion, ADNOC increased its stake to over 95% – effectively taking control of company policy.

Loss of Capital and Know-How 

Capital gains will no longer flow to Germany but to Abu Dhabi. Strategic decisions about investment and location policy are now made by owners abroad.

This is especially critical for a company of clear strategic importance: Covestro’s high-performance plastics and polyurethanes are essential for Germany’s key industries – from automotive and machinery to construction and electrical engineering. Covestro is a central element of the industrial value chain, whose stability largely determines the future of the entire German industrial base.

About 40% of the 15,000 employees still work in Germany, many at the Leverkusen headquarters. But even Covestro has not escaped the general decline. Germany’s chemical industry now operates at just 71% capacity – a drop of more than 20% from the record year of 2018 – a sector now navigating increasingly rough waters.

Covestro has reported negative net earnings in recent years, while operating profit (EBIT) fell by more than 50% from 2023 to 2024, down to €87 million. Pressure from international competitors, high energy costs, and increasingly complex Brussels regulations have pushed the company to the limits of its competitiveness.

A Broader Trend 

The trend of selling off Germany’s industrial crown jewels began with the sale of Augsburg-based robotics and automation specialist KUKA in 2016. At the time, China’s Midea Group acquired a majority stake for €4.6 billion.

Even then, the same spectacle played out: the new investor publicly promised jobs and location guarantees, but quickly shifted to a mode where strategic decisions were tied exclusively to return expectations and location quality.

There is simply no place for sentimental traditionalism or patriotic rhetoric in this world. Global industry moves forward – and no one outside Europe shares the passion for risky green policy experiments.

Dramatic Consequences 

Covestro and KUKA are just two prominent examples of a secular trend. Year after year, Germany loses net direct investment. Last year alone, €64.5 billion flowed out – capital that is being invested elsewhere in new production capacity. Note: this is a net figure, which is expected to be even higher this year.

Germany’s economy is bleeding, while political leaders respond with half-hearted industrial subsidies – like the so-called “industrial electricity price” – and ever-new regulations. Many companies are likely to exit in anticipation of the cost tsunami from the CO₂ certificate market starting in 2027.

The U.S. Factor 

Above all, the United States beckons as an alternative production base. The Trump administration has made it clear that it will use every lever – including tariff pressure – to advance reindustrialization. This includes deregulation of the energy sector, an end to costly renewable experiments, and an industrial policy that welcomes investors rather than driving them away.

Add to that promises from Arab states like Abu Dhabi and Saudi Arabia to invest trillions in U.S. production – concrete proof of Washington’s seriousness. “Made for USA” will become a major political and economic mantra in the years to come. The U.S. economy is currently growing at over 4%, accelerating global capital shifts.

The list of German companies moving to the U.S. is growing. Hamburg-based metal producer Aurubis, automotive groups Stellantis, and supplier Bosch are among firms planning to strengthen the North American economy with billions in investments.

No One Sacrifices the Green God 

It would be too simplistic to blame this trend solely on U.S. trade policy. Long before Trump returned to the White House, it was clear that industrial production in Germany – and across the EU – had become unprofitable. As long as national policy enforces the Green Deal and its “green transformation,” nothing will change.

No one dares to sacrifice the Green God – the destructive CO₂ narrative driving economic collapse.

Half-hearted protests by Mittelstand associations, such as the Family Entrepreneurs, calling for broader political discourse including the Alternative for Germany – and their sharp political and media pushback – show that Germany still does not recognize the seriousness of the situation.

With each major corporation relocating abroad, the backbone of the German economy – the deeply integrated Mittelstand – is weakened. Even the public sector hiring half a million people cannot mask the fact that industry has cut hundreds of thousands of jobs and will continue to lose value in the coming years.

Celebrating the reintroduction of an EV subsidy as a major industrial policy step is, at its core, nothing more than a declaration of bankruptcy of eco-socialist policies that have propelled the country into a spiral of poverty.

Tyler Durden Mon, 12/01/2025 - 03:30

The Dutch Are The Most Likely To 'Borrow' Their Neighbor's WiFi

According to data collected by Statista Consumer Insights, 16 percent of Dutch online respondents said that they mainly access their internet at home via their neighbor or landlord’s wireless connection.

As Statista's Anna Fleck shows in the chart below, this is double the rate of people in neighboring Germany and France.

You will find more infographics at Statista

According to the survey, only 41 percent of respondents in the Netherlands had access to broadband and 19 percent had a mobile connection via smartphone or tablet in 2025.

The United States and the United Kingdom had far lower rates of adults using their neighbors’ WiFi, at four percent and three percent, respectively.

The U.S. also had a relatively low share of people with broadband, at 37 percent, while the UK’s was higher at 63 percent.

While the reasons for this discrepancy are not fully clear from the data alone, it’s interesting to note that breaking into an encrypted WiFi is not a criminal offense in the Netherlands, even though it is in other countries.

Breaking into a computer, however, is.

Tyler Durden Mon, 12/01/2025 - 02:45

Over €325 Million In Fraudulent Welfare Benefits Support Illicit Gang Networks In Sweden; Report

Authored by Thomas Brooke via Remix News,

A Swedish government review has found that thousands of people linked to gangs in Sweden have been drawing income from the country’s benefits system for years, creating what authorities describe as a reliable, legal-looking revenue stream for criminal networks.

According to findings prepared under the state’s organized crime framework, about 4,000 individuals known to police for gang affiliation have been receiving sickness benefits, sick pay, or job-seeker support. Combined payments across the group are estimated at 3.6 billion kronor (€327.5 million) over time, enough to provide what officials call a “white” income even when illicit earnings fluctuate.

It effectively means that law-abiding Swedish taxpayers are inadvertently subsidizing criminal gangs through the benefit system, providing them with a safety net income that enables them to continue operating.

Nils Öberg, head of the Social Insurance Agency, said the material reinforces the pattern authorities have been tracking. Speaking to TV4, he said the welfare system has become part of the business model: an official income on paper, and criminal income off it.

Samnytt notes that the report shows a marked overrepresentation of people with a migration background in the cohort examined. This applies to both those born abroad and those born in Sweden to two foreign-born parents.

Investigators highlight the contradiction between benefits requiring reduced work ability and the documented activity of some recipients. Case studies in the report refer to individuals formally certified as unfit for work while running gangs, traveling abroad, or coordinating violent offenses. One man listed on medical grounds after an accident was recorded visiting gyms and participating in gang operations. Another, diagnosed with limited work ability, is reported to have led a large criminal network while accumulating more than 30 convictions.

Maintenance support is also cited as a hidden revenue channel. Since many gang figures report little or no legal income, the state covers child maintenance on their behalf. In 2024, more than 3,600 such individuals were classified as unable to pay, resulting in payouts of around 118 million kronor (€10.7 million).

The review also tracked corporate links. One in three businesses that filed sickness claims on behalf of gang-connected employees are run or previously run by people with criminal links. More than four in five show clear connections to gang networks. The personal assistance sector in particular was flagged as an area with heavy infiltration, both among staff and among owners.

Social Insurance Minister Anna Tenje, as cited by Sydsvenskan, said that the situation was “astonishing” and insisted that public funds are meant for people who genuinely need them. She argued that weakening the financial lifeline to criminal networks is essential if the government wants to reduce gang influence.

Speaking to TV4, Labor Minister Johan Britz described those involved as “welfare pirates,” adding that taxpayers were effectively financing criminal lifestyles under the guise of social support.

Police estimate that around 67,500 people in Sweden have some form of gang association, of whom roughly 17,500 are considered actively involved. National Police Commissioner Petra Lundh said there is no clear indication of improvement or deterioration and warned that recruitment remains steady.

The authors of the review state that existing law was designed for honest applicants rather than organized exploitation and suggest that stronger information-sharing powers and more robust verification are required. The government says new data-access legislation will come into effect in December, with further reforms planned later in the parliamentary term.

Officials say the next step is to reassess benefit cases flagged in the review and halt payments where fraud is suspected. The agency involved says it will broaden investigations, but ministers have offered no timeline on when changes will take full effect.

Read more here...

Tyler Durden Mon, 12/01/2025 - 02:00

Alcohol Consumption In The US By The Numbers

In the U.S., alcohol consumption remains widespread, with nearly half the population aged 12 or older reporting that they consumed alcohol within the past month.

This visualization, via Visual Capitalist's Niccolo Conte, explores the scale of drinking behavior across America, including how many people drink, binge drink, or engage in heavier levels of alcohol use, using data from the Substance Abuse and Mental Health Services Administration as of 2024.

How Many Americans Drink Alcohol Regularly?

Out of the 288.8 million Americans aged 12 or older, 134 million (46.5%) reported drinking alcohol at least once in the past 30 days.

The data table below shows the number of regular alcohol drinkers in the U.S., along with binge drinkers and heavy drinkers.

 

Binge drinkers are defined as those who consumed five or more drinks (four for women) on one occasion, and heavy drinkers are those who engaged in binge drinking at least five times in the past 30 days.

 

Despite alcohol drinkers making up nearly half of the U.S. population of those aged 12 or older, the share in 2024 (46.5%) has declined slightly since 2022 when it was 48.7%.

The Number of Binge and Heavy Drinkers in the U.S.

Of the 134.3 million alcohol drinkers in the U.S., 57.9 million people engaged in binge drinking, which represents 20.1% of the total population and 43.1% of all alcohol users.

This reveals a significant overlap between casual use and occasional high-risk consumption, highlighting how binge drinking behavior is deeply embedded within the broader drinking population.

Heavy alcohol users—those who binge drink on at least five days in the past month—number 14.5 million in America. This represents 5% of the total population above 12 years old and 10.8% of alcohol users.

While this group is much smaller than the broader categories of alcohol and binge drinkers, heavy drinkers make up one quarter of all binge drinkers, and account for one in every 10 regular alcohol drinkers in the country.

To learn more about alcohol consumption in the U.S., check out this graphic which breaks down which U.S. states drink the most beer.

Tyler Durden Sun, 11/30/2025 - 22:45

Putin Might Soon Clinch A Large-Scale Labor Migration Deal With Modi

Authored by Andrew Korybko via Substack,

Putin will visit India late next week to meet with Modi for their annual summit, the first time that the Russian leader will travel to India since the special operation began, his last one being in December 2021.

Aleksei Zakharov, a Fellow at India’s esteemed Observer Research Foundation, published a detailed article about how “Key Policy Outcomes Expected at the India-Russia Summit”.

It’s an excellent read, but it omits mention of their large-scale labor migration talks, which might lead to a deal next week.

Air Marshal Anil Chopra (Retired), the former Director-General of the Center for Air Power Studies in New Delhi, published an intriguing piece about this at RT in early November.

He noted how both countries representatives “discussed potential collaboration on social and labor issues”, contextualizing their conversation by adding that Russia “plans to recruit up to 1 million foreign workers – including from India. The Russian Labor Ministry estimates the shortfall could expand to 3.1 million workers by 2030.”

He makes a lot of compelling arguments about how India could help resolve this dimension of “Russia’s demography problem”, but what’s left out is how its labor migrants pose less of a security risk than Russia’s traditional ones from Central Asia. Conor Gallagher touched upon this in early November in his extensively detailed analysis about the US’ evolving strategy towards that region. From this point here near the end for the next several paragraphs, he describes Russia’s new approach towards migration.

Not only is Russia “getting rid of 700,000-plus migrants, mostly Central Asians, a process which was jumpstarted by the terrorist attack on Crocus City Hall in outer Moscow in March 2024”, but “the Concept of State Migration Policy for 2026-2030…focuses not on increasing the population through Central Asian citizens, but on strengthening control, digitalization, and the task of attracting only those migrants who share the ‘traditional spiritual and moral values’ of Russian society.”

Putin spoke about the security threats posed by “the migration factor” in early November during a meeting with the Council on Interethnic Relations where they discussed ways to fine-tune the State Interethnic Policy, the updated version of which was then approved by month’s end. It’s not declared, but the innuendo is that Central Asian Muslims are at a greater risk of radicalism and being manipulated by foreign forces than other labor migrants such as Indians (both Muslims and especially Hindus).

It’s within this economic-security context that Russia is exploring a large-scale migrant labor deal with India that might be clinched during the Putin-Modi Summit. To be clear, recent policy changes won’t lead to Indians playing a role in “population replacement”, only in labor replacement since most likely won’t be offered a path to residency and then citizenship. The sole purpose is for Indians to meet Russia’s labor shortage in lieu of Central Asian Muslims in exchange for profitable remittance opportunities.

Indians are among the most Russian-friendly people in the world as proven by credible surveys, and unlike Central Asian Muslims, they harbor no historical grievances (whether objectively existing or subjectively perceived) that could be manipulated by foreign forces to weaponize them against Russia.

Their society is also proudly secular and this makes them much less likely to be radicalized into terrorists.

It therefore wouldn’t be surprising if Putin clinches a large-scale labor migration deal with Modi.

Tyler Durden Sun, 11/30/2025 - 22:10

Former NASDAQ-Listed Exec Sentenced To Life In Prison Over Murder-For-Hire Plot

The First Assistant U.S. Attorney for Vermont announced that on November 24, 2025, Chief Judge Christina Reiss sentenced Serhat Gumrukcu, 43, of Los Angeles—formerly the "scientific founder", "inventor" and largest shareholder of publicly listed Enochian Biosciences, which eventually became Renovaro—to life in prison for the January 6, 2018, murder-for-hire of Gregory Davis in Barnet, Vermont.

Gumrukcu was first brought to the attention of market participants by former short seller Hindenburg Research back in 2022 who called his company a $600 million Nasdaq-listed scam "based on a lifetime of lies". 

A jury convicted him in April 2025 of murder-for-hire, conspiracy to commit murder-for-hire, and conspiracy to commit wire fraud, according to the DOJ. 

Gumrukcu had formerly been praised by Enochian (then Renovaro) CEO Mark Dybul - who once worked under Anthony Fauci at the National Institute of Health - with Dybul writing in November 2019 that he was "one of those rare geniuses that is not bound by scientific discipline or dogma". Hindenburg then accused Dybul of turning a "blind eye to outrageous fraud" perpetrated by Gumrukcu in a stunning follow up report after the "inventor's" death. 

The Department of Justice press release says that his co-conspirators were sentenced in September 2025: Berk Eratay received 110 months of imprisonment followed by three years of supervised release; Aron Ethridge received 140 months followed by five years of supervised release; and Jerry Banks received 200 months followed by five years of supervised release.

According to prosecutors, Gumrukcu ordered Davis’s killing because Davis threatened legal action over a failed oil-commodities deal that was also the basis of Gumrukcu’s wire-fraud conviction. Gumrukcu also feared that Davis would interfere with a biotech merger involving his claimed HIV “cure.”

Evidence showed that Eratay enlisted Ethridge, who then hired Banks. On January 6, 2018, Banks posed as a Deputy U.S. Marshal and abducted Davis from his Vermont home; Davis’s body was found the next day nearby. Communications, financial records, and location data documented the dispute between Gumrukcu and Davis and tied Gumrukcu, Eratay, Ethridge, and Banks to the crime.

At sentencing, Melissa Davis, the victim’s widow, thanked investigators and prosecutors. She praised the Vermont State Police “for every call, every update,” the FBI for its “coordination across state lines” and “relentless pursuit of truth,” and the prosecution team whose “strength, commitment, and unwavering pursuit of justice…will stay with me for the rest of my life.”

She said she often felt proud in court, “knowing God had appointed each of you to pursue justice for Gregg,” and also expressed gratitude to her victim advocate, the U.S. Marshals Service, and Chief Judge Reiss.

A supposed mind-reading magician turned biomedical entrepreneur, Gumrukcu mingled with Hollywood elites and earned millions through unconventional medical ventures. But during his five-week trial in Burlington, he faced a far different spotlight—three days on the witness stand, denying involvement in the 2018 murder-for-hire of former business partner Gregory Davis.

Though he claimed innocence, Gumrukcu admitted under oath to lying to authorities and said he'd told “so many lies” in past deals he couldn’t remember them all. He acknowledged buying a fake medical degree from Russia, calling it “cheating,” and described his younger self as “arrogant,” advocating unorthodox treatments like leeches and mistletoe.

As part of their investigation into Enochian and Gumrukcu, Hindenburg Research ordered the very same degree to prove that it was fake back in 2022. 

Way back when, @HindenburgRes published on Enochian Biosciences, now Renovaro $RENB. Their scientific genius, Serhat Gumrukcu, just took the stand this week to deny he hired someone to murder a dude he defrauded. But he DID admit, just as Hindenburg uncovered, that he bought a… pic.twitter.com/G7cfLCV1zB

— Codfish Johnny (@CodfishJohnny) April 17, 2025

Prosecutors argued Gumrukcu had Davis killed to prevent him from exposing fraud tied to a failed oil deal—one that could have derailed a lucrative biomedical contract with Enochian BioSciences.

“Gregg Davis was a problem for the defendant,” said prosecutor Paul Van de Graaf. “It was the defendant who paid for the murder.”

Van de Graaf outlined how Gumrukcu financed the $200,000 plot, with testimony from three co-conspirators, including former assistant Berk Eratay. Eratay claimed Gumrukcu told him he wanted to “get rid of a problem,” prompting Eratay to enlist others, including hitman Jerry Banks. Banks testified he posed as a U.S. marshal, kidnapped Davis, and executed him in rural Vermont.

Defense attorney Ethan Balogh argued it was Eratay who “ran the op,” not Gumrukcu. He said the funds were meant for a cryptocurrency project and portrayed Davis as untrustworthy. Balogh accused the three key witnesses—who took plea deals to avoid life sentences—of lying to save themselves: “These men were all going to die in the cage.”

Prosecutors countered that none of them had a reason to kill Davis—except Gumrukcu. As Van de Graaf said, even “peaceful” men can outsource their violence.

As Hindenburg noted in a subsequent report, the story of Gumrukcu’s rise and fall, up to awaiting trial was chronicled in a podcast produced by Amazon’s Wondery (Spotify, Apple).

Tyler Durden Sun, 11/30/2025 - 21:35

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.

We are living in crazy times. I have a hard time believing that most of the general public is not awake, but in reality, they are. We've never seen anything like this; I mean not even under Obama during the worst part of the Great Recession." Now the Fed is desperately trying to keep interest rates from rising. The problem is that it's a much bigger debt bubble this time around , and the Fed is going to have to blow a lot more air into it to keep it inflated. The difference is this time it's not going to work." It looks like the Fed did another $104.15 billion of Not Q.E. in a single day. The Fed claims it's only temporary. But that is precisely what Bernanke claimed when the Fed started QE1. Milton Freedman once said, "Nothing is so permanent as a temporary government program." The same applies to Q.E., or whatever the Fed wants to pretend it's doing. Except this is not QE4, according to Powell. Right. Pumping so much money out, and they are accusing China of currency manipulation ? Wow! Seriously! Amazing! Dump the U.S. dollar while you still have a chance. Welcome to The Atlantis Report. And it is even worse than that, In addition to the $104.15 billion of "Not Q.E." this past Thursday; the FED added another $56.65 billion in liquidity to financial markets the next day on Friday. That's $160.8 billion in two days!!!! in just 48 hours. That is more than 2 TIMES the highest amount the FED has ever injected on a monthly basis under a Q.E. program (which was $80 billion per month) Since this isn't QE....it will be really scary on what they are going to call Q.E. Will it twice, three times, four times, five times what this injection per month ! It is going to be explosive since it takes about 60 to 90 days for prices to react to this, January should see significant inflation as prices soak up the excess liquidity. The question is, where will the inflation occur first . The spike in the repo rate might have a technical explanation: a misjudgment was made in the Fed's money market operations. Even so, two conclusions can be drawn: managing the money markets is becoming harder, and from now on, banks will be studying each other's creditworthiness to a greater degree than before. Those people, who struggle with the minutiae of money markets, and that includes most professionals, should focus on the causes and not the symptoms. Financial markets have recovered from each downturn since 1980 because interest rates have been cut to new lows. Post-2008, they were cut to near zero or below zero in all major economies. In response to a new financial crisis, they cannot go any lower. Central banks will look for new ways to replicate or broaden Q.E. (At some point, governments will simply see repression as an easier option). Then there is the problem of 'risk-free' assets becoming risky assets. Financial markets assume that the probability of major governments such as the U.S. or U.K. defaulting is zero. These governments are entering the next downturn with debt roughly twice the levels proportionate to GDP that was seen in 2008. The belief that the policy worked was completely predicated on the fact that it was temporary and that it was reversible, that the Fed was going to be able to normalize interest rates and shrink its balance sheet back down to pre-crisis levels. Well, when the balance sheet is five-trillion, six-trillion, seven-trillion when we're back at zero, when we're back in a recession, nobody is going to believe it is temporary. Nobody is going to believe that the Fed has this under control, that they can reverse this policy. And the dollar is going to crash. And when the dollar crashes, it's going to take the bond market with it, and we're going to have stagflation. We're going to have a deep recession with rising interest rates, and this whole thing is going to come imploding down. everything is temporary with the fed including remaining off the gold standard temporary in the Fed's eyes could mean at least 50 years This liquidity problem is a signal that trading desks are loaded up on inventory and can't get rid of it. Repo is done out of a need for cash. If you own all of your securities (i.e., a long-only, no leverage mutual fund) you have no need to "repo" your securities - you're earning interest every night so why would you want to 'repo' your securities where you are paying interest for that overnight loan (securities lending is another animal). So, it is those that 'lever-up' and need the cash for settlement purposes on securities they've bought with borrowed money that needs to utilize the repo desk. With this in mind, as we continue to see this need to obtain cash (again, needed to settle other securities purchases), it shows these firms don't have the capital to add more inventory to, what appears to be, a bloated inventory. Now comes the fun part: the Treasury is about to auction 3's, 10's, and 30-year bonds. If I am correct (again, I could be wrong), the Fed realizes securities firms don't have the shelf space to take down a good portion of these auctions. If there isn't enough retail/institutional demand, it will lead to not only a crappy sale but major concerns to the street that there is now no backstop, at all, to any sell-off. At which point, everyone will want to be the first one through the door and sell immediately, but to whom? If there isn't enough liquidity in the repo market to finance their positions, the firms would be unable to increase their inventory. We all saw repo shut down on the 2008 crisis. Wall St runs on money. . OVERNIGHT money. They lever up to inventory securities for trading. If they can't get overnight money, they can't purchase securities. And if they can't unload what they have, it means the buy-side isn't taking on more either. Accounts settle overnight. This includes things like payrolls and bill pay settlements. If a bank doesn't have enough cash to payout what its customers need to pay out, it borrows. At least one and probably more than one banks are insolvent. That's what's going on. First, it can't be one or two banks that are short. They'd simply call around until they found someone to lend. But they did that, and even at markedly elevated rates, still, NO ONE would lend them the money. That tells me that it's not a problem of a couple of borrowers, it's a problem of no lenders. And that means that there's no bank in the world left with any real liquidity. They are ALL maxed out. But as bad as that is, and that alone could be catastrophic, what it really signals is even worse. The lending rates are just the flip side of the coin of the value of the assets lent against. If the rates go up, the value goes down. And with rates spiking to 10%, how far does the value fall? Enormously! And if banks had to actually mark down the value of the assets to reflect 10% interest rates, then my god, every bank in the world is insolvent overnight. Everyone's capital ratios are in the toilet, and they'd have to liquidate. We're talking about the simultaneous insolvency of every bank on the planet. Bank runs. No money in ATMs, Branches closed. Safe deposit boxes confiscated. The whole nine yards, It's actually here. The scenario has tended to guide toward for years and years is actually happening RIGHT NOW! And people are still trying to say it's under control. Every bank in the world is currently insolvent. The only thing keeping it going is printing billions of dollars every day. Financial Armageddon isn't some far off future risk. It's here. Prepare accordingly. This fiat system has reached the end of the line, and it's not correct that fiat currencies fail by design. The problem is corruption and manipulation. It is corruption and cheating that erodes trust and faith until the entire system becomes a gigantic fraud. Banks and governments everywhere ARE the problem and simply have to be removed. They have lost all trust and respect, and all they have left is war and mayhem. As long as we continue to have a majority of braindead asleep imbeciles following orders from these psychopaths, nothing will change. Fiat currency is not just thievery. Fiat currency is SLAVERY. Ultimately the most harmful effect of using debt of undefined value as money (i.e., fiat currencies) is the de facto legalization of a caste system based on voluntary slavery. The bankers have a charter, or the legal *right*, to create money out of nothing. You, you don't. Therefore you and the bankers do not have the same standing before the law. The law of the land says that you will go to jail if you do the same thing (creating money out of thin air) that the banker does in full legality. You and the banker are not equal before the law. ALL the countries of the world; Islamic or secular, Jewish or Arab, democracy or dictatorship; all of them place the bankers ABOVE you. And all of you accept that only whining about fiat money going down in exchange value over time (price inflation which is not the same as monetary inflation). Actually, price inflation itself is mainly due to the greed and stupidity of the bankers who could keep fiat money's exchange value reasonably stable, only if they wanted to. Witness the crash of silver and gold prices which the bankers of the world; Russian, American, Chinese, Jewish, Indian, Arab, all of them collaborated to engineer through the suppression and stagnation of precious metals' prices to levels around the metals' production costs, or what it costs to dig gold and silver out of the ground. The bankers of the world could also collaborate to keep nominal prices steady (as they do in the case of the suppression of precious metals prices). After all, the ability to create fiat money and force its usage is a far more excellent source of power and wealth than that which is afforded simply by stealing it through inflation. The bankers' greed and stupidity blind them to this fact. They want it all, and they want it now. In conclusion, The bankers can create money out of nothing and buy your goods and services with this worthless fiat money, effectively for free. You, you can't. You, you have to lead miserable existences for the most of you and WORK in order to obtain that effectively nonexistent, worthless credit money (whose purchasing/exchange value is not even DEFINED thus rendering all contracts based on the null and void!) that the banker effortlessly creates out of thin air with a few strokes of the computer keyboard, and which he doesn't even bother to print on paper anymore, electing to keep it in its pure quantum uncertain form instead, as electrons whizzing about inside computer chips which will become mute and turn silent refusing to tell you how many fiat dollars or euros there are in which account, in the absence of electricity. No electricity, no fiat, nor crypto money. It would appear that trust is deteriorating as it did when Lehman blew up . Something really big happened that set off this chain reaction in the repo markets. Whatever that something is, we aren't be informed. They're trying to cover it up, paper it over with conjured cash injections, play it cool in front of the cameras while sweating profusely under the 5 thousands dollar suits. I'm guessing that the final high-speed plunge into global economic collapse has begun. All we see here is the ripples and whitewater churning the surface, but beneath the surface, there is an enormous beast thrashing desperately in its death throws. Now is probably the time to start tying up loose ends with the long-running prep projects, just saying. In other words, prepare accordingly, and Get your money out of the banks. I don't care if you don't believe me about Bitcoin. Get your money out of the banks. Don't keep any more money in a bank than you need to pay your bills and can afford to lose.











The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more













The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

The FBI released a summary of its file from the Hillary Clinton email investigation on Friday, showing details of Clinton's explanation of her use of a private email server to handle classified communications. The release comes nearly two months after FBI Director James Comey announced that although Clinton's handling of classified information was "extremely careless," it did not rise to the level of a prosecutable offense. Attorney General Loretta Lynch announced the next day that she would not pursue charges in the matter. "We are making these materials available to the public in the interest of transparency and in response to numerous Freedom of Information Act (FOIA) requests," the FBI noted in a statement sent to reporters with links to the documents. The documents include notes from Clinton's July 2 interview with agents, as well as a "factual summary of the FBI's investigation into this matter," according to the FBI release. Throughout her interview with agents, Clinton repeatedly said she relied on the career professionals she worked with to handle classified information correctly. The agents asked about a series of specific emails, and in each case Clinton said she wasn't worried about the particular material being discussed on a nonclassified channel.