(Bloomberg) — Panic spread across the startup world as worries about the financial health of Silicon Valley Bank, a major lender to fledgling companies, prompted Peter Thiel’s Founders Fund and other prominent venture capitalists to advise portfolio businesses to withdraw their money, even as the bank’s top executive urged calm.
The turmoil followed a surprise announcement from Santa Clara, California-based SVB that it was holding a $2.25 billion share sale after a significant loss on its portfolio, which included US Treasuries and mortgage-backed securities. SVB’s stock plunged 60% on Thursday and its bonds posted record declines.
A U.S. judge on Thursday ordered JPMorgan Chase & Co (JPM.N) to hand over more documents concerning Chief Executive Jamie Dimon to the U.S. Virgin Islands for the territory’s lawsuit accusing the bank of aiding in Jeffrey Epstein’s sex trafficking.
U.S. District Judge Jed Rakoff in Manhattan said the bank must turn over requested documents from 2015 to 2019, a period after JPMorgan had dropped Epstein as a client. Rakoff did not explain his reasoning in his one-sentence order.
The U.S. Virgin Islands is seeking damages from JPMorgan for allegedly aiding in Epstein’s sex trafficking by keeping him as a client, and missing red flags about his misconduct on Little St. James, a private island he owned.
Janine A. Rethy, MD, MPH reportedly lied to and tricked McNeil’s two older children during their annual physical exam at the KIDS Mobile Medical Clinic / Ronald McDonald Care Mobile clinic, operated by Georgetown Hospital in Washington, D.C.
In order to continue attending school, the children were falsely told by Rethy, they had to get injected with Fauci Flu shot poisons. And it all happened in secret while McNeil stood outside the exam room unaware of what was happening inside.
Rethy, who directs the mobile clinic, reportedly held McNeil’s children in the examination room for much longer than necessary during their check-up. It turns out Rethy was jabbing them without consent using fear and deception while their mother was outside the room.
Rethy made up lies about how McNeil’s children would be barred from getting an education unless they agreed to roll up their sleeves for DNA and gene modification therapy. (Related: Remember when Pfizer’s covid “vaccine” caused a hepatitis outbreak in children?)
One of Janine Rethy’s stated life goals is to “vaccinate” all children against the Chinese Flu
With financing assistance from Children’s Health Defense (CHD), McNeil is now suing Rethy with the help of D.C. attorney Matthew Hardin, who is pursuing damages for false imprisonment, battery, and fraud.
According to CHD President and General Counsel Mary Holland, “CHD couldn’t just sit still and allow this wrong to go unpunished and not bring this to the public’s attention.”
In an exclusive interview with The Defender, McNeil explained why she decided to sue Rethy.
“I just feel like people shouldn’t be able to do whatever they want to do to other people and especially not to children. As a mother, I feel like, ‘You all just took all my rights away from me to do what you wanted to do to my kids,’” she said.
“I do want justice to be done in this case. I feel like something needs to be done. This can’t just continue to happen.”
McNeil’s complaint also addresses Rethy’s stated mission of injecting all children everywhere for the Chinese Flu, which is barely even a threat to them, especially in its current forms.
“Our goal is to increase vaccination rates in children here in D.C.,” Rethy told the press. “For more than 30 years our role has been to be in the community to help address the problem of health disparities, bringing families care where they are.”
“For this particular effort, we are glad to be partnering with D.C. Health to provide both regular childhood vaccines and Covid-19 vaccines to all children.”
Is Rethy a eugenicist who is targeting children for sterilization and early death through covid injection? It would sure appear that way based on her past statements about covid shots.
McNeil says that Rethy never once asked or even informed her that her two teenage children would be receiving any vaccinations the day of their scheduled physical examinations. McNeil never signed anything towards this end because she was never even consulted about it.
It was only after McNeil started driving home after leaving the clinic that she discovered her daughter’s jabbed arm hurt “pretty bad.” When McNeil asked why it hurt, her daughter explained that Rethy forced her to get injected against her will.
“When she had the needle in her hand and she was coming towards me, I backed up and I asked her what is that needle, and she said it was the covid shot and I … told her I didn’t want it and she said, ‘Well it is mandatory, you have to get it in order to go to school,’” McNeil’s daughter said.
Want to keep up with the latest news about the covid “vaccine” saga? Visit VaccineWars.com.
Sen. Ed Markey (D-Mass.), in speaking to The Washington Post about the suit, explained that Americans deserve to be able to go about their lives in peace without being watched by corrupt federal agencies that have grossly overstepped their bounds.
“Americans’ ability to navigate our communities without constant tracking and surveillance is being chipped away at an alarming pace,” Markey said to the Post, the first media outlet to break the news about the ACLU suit.
“We cannot stand by as the tentacles of the surveillance state dig deeper into our private lives, treating every one of us like suspects in an unbridled investigation that undermines our rights and freedom.”
Democrats introduce legislation to stop FBI from illegally spying on Americans
At the current time, there are only state-level bans in some areas blocking the FBI from using facial recognition tools to track Americans without their knowledge or consent, and without a warrant. There is no federal-level ban on such practices, though Markey has pledged to see one passed.
Along with Rep. Pramila Jayapal (D-Wash.) and numerous other Democrats, Markey has promised to unveil new legislation that would rein in the FBI and other federal agencies and stop them from taking advantage of the system in violation of the Constitution.
“The year is 2023, but we are living through 1984,” Markey added upon reintroducing the Facial Recognition and Biometric Technology Moratorium Act, which is backed by the ACLU and numerous other privacy rights groups. “The continued proliferation of surveillance tools like facial recognition technologies in our society is deeply disturbing.”
“Biometric data collection poses serious risks of privacy invasion and discrimination, and Americans know they should not have to forgo personal privacy for safety. As we work to make our country more equitable, we cannot ignore the technologies that stand in the way of progress and perpetuate injustice.”
Documents obtained by the ACLU show that the FBI, along with the Department of Defense (DoD), have been collecting drone and street camera footage to feed into its facial recognition software. These agencies have been doing this to a much more expansive degree than most people realize.
“We obtained thousands of documents revealing the FBI’s major involvement in developing face recognition software that could allow the government to identify and track millions of people at a time,” the ACLU tweeted about what it has uncovered.
In essence, the FBI has been quietly working alongside academic researchers to “refine artificial intelligence techniques that could help in the identification or tracking of Americans without their awareness or consent,” the Post further reported about the matter.
Many of the records obtained by the ACLU and the Post have to do with the Janus program, which was funded by the Intelligence Advanced Research Projects Agency. This program was ultimately used to create a search tool called Horus, named after the occultic Eye of Horus, that is used by multiple federal agencies.
These tools allow for the quick and accurate processing of “truly unconstrained face imagery” recorded by the potentially millions of surveillance cameras that litter public spaces throughout the United States.
“We’re essentially beta-testing technology on real people with real-world consequences,” the government admitted.
There is no limit to the amount of corruption present at the FBI. To learn more about it, visit FBIcorruption.news.
Powell stated: “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated.
“If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes.”
Their aim is to try to reduce inflation to a target of 2%; higher interest rates are expected to reduce consumer spending, which would slow the economy. However, the Fed has already raised interest rates at the quickest pace since the 1980s during the last year, climbing from almost 0 to over 4.5%. Despite this, consumer spending has not been slowing.
Higher rates are expected to negatively impact stocks and other investments and increase the risk of a recession down the line.
Following Powell’s announcement, stocks sank, with the S&P dropping 62 points and the Dow Jones Industrial Average closing 575 points lower. NASDAQ, meanwhile, dropped 1.3%.
When the Federal Open Market Committee meets again toward the end of the month, another increase is widely expected, and the hike could be in excess of 50 basis points. There remains considerable uncertainty about where rates will fall by year’s end.
The impact of these moves on small businesses could be significant. Companies using loans with a flexible rate have seen the rates on their small business loans double in the span of just one year, while some businesses are paying more than 10% interest on their existing loans. This is hurting profitability and cash flow for the businesses that are already paying off loans and causing other businesses to delay their plans for expansion.
Federal funds rate could hit 6%
Just how high could the rate move? Rick Rieder, a managing director and chief investment officer for asset manager BlackRock, told CNBC that he believes the federal funds rate could peak at 6 percent.
He commented: “We think there’s a reasonable chance that the Fed will have to bring the Fed Funds rate to 6%, and then keep it there for an extended period to slow the economy and get inflation down to near 2%.”
He said the economy has been more resilient than anticipated, as evidenced by the latest Consumer Price Index reading and jobs report. This resilience, he noted, is making things complicated for the Fed as the economy is not as sensitive to interest rates as it was in the past.
The last jobs report saw a rise of 517,000 nonfarm payrolls in January, which was well above market estimates. Unemployment, meanwhile, fell to 3.4%, which is its lowest level since 1969. The next report will be out tomorrow and is expected to continue pointing to a resilient labor market despite the recent aggressive rate increases.
This will be followed by updated consumer price data on Tuesday.
The results of these and other upcoming data releases will indicate whether last month’s hotter-than-expected figures were a fluke or a sign of things to come. Many experts believe we could see a rate rise of half a point, although Powell has insisted that a decision has not yet been made.
In congressional testimony this week, he said: “We’re not on a preset path. We will be guided by the incoming data and the evolving outlook.”
I’d like to thank the Nobel Committee for this award, and the cash, and also Harvard, for hiring me to teach one class a week for $10000000000 a year for the next five years.
I make no apologies for my work in the fields of economics, sociology, psychology, and political theory, even though that work has forced phalanxes of moronic academics into early retirement.
When immigrants poured into America in the late 19th and early 20th centuries, they were yearning for freedom from oppression, yes. But they weren’t focused on the freedom to vote for Teddy Roosevelt or some other Presidential candidate.
These immigrants wanted the freedom to succeed. ECONOMICALLY.
In other words, THEY WANTED WHAT THEY DIDN’T HAVE.
With that insight, I shoved a mountain range of analytic bullshit to one side.