thewashingtonstandard--2020-09-04--Protecting U.S. Bulk-Power System & Technology from Bad Actors: Part 2

n May 1 , 2020 , President Trump signed executive order “ Securing the United States Bulk-Power System , ” which was one of the most important executive orders to date , yet it was a blip on most people ’ s radar .
In fact , there have been a string of key executive orders and bills put in place regarding the power supply and technology sectors to protect the U.S. from potential harm .
While all eyes have been on 5G and Huawei , few seem to be paying attention to the bigger picture – electricity , solar @ @ @ @ @ @ @ manufactured parts , foreign interference and outsourcing – essentially , our entire powered infrastructure .
Part 1 of this report breaks down the timeline of key executive orders , bills , actions , and events that are critical to protecting the U.S. , and reflects all the way back to 2012 , showing where President Trump ’ s thought process was at long before he became president .
It is essential reading to understand the magnitude of what is at stake and some of the protections that have been put in place .
@ @ @ @ @ @ @ vital roles in taking advantage of the U.S. , running specific deals to benefit China , and focusing on monopolizing the energy and technology industries , among others , from high positions of financial authority , two of whom have flown under the radar with most people .
This report exposes some of these endeavors .
Parts 1 & 2 of this 30-page report are also available in The Bookshop in a single pdf download .
Three Key Players Flying Under The Radar Click on image to enlarge Corey ’ s Digs has @ @ @ @ @ @ @ Jim Yong Kim , his ties to Dartmouth , HIV/AIDS slush fund , Bill Gates and the Clintons , the World Health Organization , and recent involvement with COVID-19 contact tracing .
This report covers another industry he is heavily involved in , along with two other individuals that no one is talking about , both of whom were born in China .
Coincidentally , all of these men graduated high profile schools within a 4-mile radius of one another , and all within six years of each other , who went on @ @ @ @ @ @ @ overlapping timeframes .
But there are a lot more coincidences documented below .
Wu Shangzhi graduated MIT with a PhD in mechanical engineering in 1985 Jin-Yong Cai graduated Boston University with a PhD in economics in 1990 Jim Yong Kim graduated Harvard Medical School with an M.D .
in 1991 , and PhD in anthropology from Harvard University in 1993 Partners in Health was formed in 1987 by Jim Yong Kim , along with four co-founders , including Paul Farmer who graduated Harvard University in 1990 .
Kim and Farmer are at the @ @ @ @ @ @ @ COVID-19 , both having deep ties to the Clintons and Bill Gates .
It should be noted that Bill Gates funds all of those schools , in addition to other schools they have attended as well , including those in China .
Wu Shangzhi , Jin-Yong Cai , and Jim Yong Kim all formerly worked for the World Bank in high-ranking positions , with overlapping time frames .
Wu Shangzhi 1984-1991 – Operation Officer at the World Bank specializing in investment projects for China and India 1991-1993 – Senior Investment Officer at the @ @ @ @ @ @ @ Group Jin-Yong Cai 1990-1993 – Economist in Central Europe and South Asia for the World Bank 2012-2015 – CEO of the International Finance Corporation of the World Bank Group Both Jim Yong Kim and Jin-Yong Cai currently work for Global Infrastructure Partners ( GIP ) .
They began working with GIP just three months apart .
• Jim Yong Kim began on February 1 , 2019 after resigning from the World Bank .
• Jin-Yong Cai began in May , 2019 after departing TGP Capital .
Both Jin-Yong Cai and Wu Shangzhi played @ @ @ @ @ @ @ International Capital Corporation ( CICC ) in 1995 , the first ever investment banking venture in China , which played a critical role in the Chinese economic transformation .
More on this further down .
• Jin-Yong Cai was the Managing Director to the China International Capital Corporation ( CICC ) at its inception .
• Wu Shangzhi was the head of CICC ’ s private equity group from its inception .
Both Jim Yong Kim and Jin-Yong Cai have decades-long ties to Bill Gates , as well as funding his endeavors while @ @ @ @ @ @ @ Gates also has very strong ties to the technology , energy , and climate sectors , as well as to China .
• Born in South Korea , raised in the U.S. where he currently resides • 1983 – Co-founded Partners in Health in Zanmi Lasante in Cange , Haiti • 1987 – Co-founded Partners in Health in the U.S. • 2003 – Advisor to Director-General World Health Organization and Director of HIV/AIDS Dept .
• Kim has received the MacArthur “ Genius ” Fellowship , was recognized as one of America ’ @ @ @ @ @ @ @ U.S. News & World Report , and was named TIME magazine ’ s “ 100 Most Influential People in The World.
” In January 2019 , Kim resigned from the World Bank three years early , after a 7-year stint , being appointed by former President Barack Obama , and selected by none other than Hillary Clinton .
This was a very significant position to just walk away from , so there had to be irons in the fire to carry out far greater agendas that he was no longer able to carry @ @ @ @ @ @ @ February 1 , 2019 , he became a partner at Global Infrastructure Partners ( GIP ) based out of New York .
They are a large equity investment firm , investing in the energy sector , ports , infrastructure , and transportation .
( More on GIP below . )
While those endeavors continue , he is also working with his co-founders of Partners in Health , Ophelia Dahl and Paul Farmer on implementing COVID-19 contact tracing surveillance in multiple states .
You can read much more about Kim ’ s history in @ @ @ @ @ @ @ , in addition to his decades-long work with the Clintons and Bill Gates .
Kim also has long-standing relationships with Dr. Anthony Fauci and Deborah Birx , as they have all been involved in the HIV/AIDS agenda , going back decades .
In fact , they even produced a movie titled ‘ Bending The Arc ’ which tells the story of Partners in Health changing global health , and had both Fauci and Birx at the screening and as panelists , in 2018 .
The panel discussion entailed talks about how they would @ @ @ @ @ @ @ pressing global threats like famine , refugee crises , and pandemic disease.
” During Kim ’ s time at the World Bank , they financially supported three urban transport projects in the Wuhan China metropolitan region , with $ 120 million funded in February 2016 alone .
Well before Kim ’ s time at the World Bank , in 1999 the IFC had invested $ 11.5 million for China Infrastructure ’ s Wuhan International Container Transshipment project .
In 2012 , Kim ’ s predecessor Robert Zoellick , who now serves on the @ @ @ @ @ @ @ I know , it ’ s difficult to keep up with all of these shenanigans ) , had worked diligently on the ‘ China 2030 ’ report on ‘ Building a Modern , Harmonious , and Creative Society ’ by the World Bank and the Development Research Center of the State Council , Beijing ’ s cabinet , which is a 470-page blueprint for China ’ s transition from an export-driven economy to a consumer-led one .
The report is packed full of information , data , and ranking comparisons between countries , @ @ @ @ @ @ @ includes China ’ s lead in several areas of the energy industry .
By 2012 , China had become the world ’ s largest manufacturer , largest exporter , and second-largest economy .
Remember this tweet from 2012 , four years prior to Donald Trump becoming President , along with the 30 % tariffs he imposed on solar panels abroad in 2018 ?
One of Kim ’ s top aides was Jin-Yong Cai , the VP and CEO of World Bank Group ’ s IFC , at the time .
They forged quite @ @ @ @ @ @ @ of hot water , and a few years later both became partners at Global Infrastructure Partners .
( more on that below ) .
JIN-YONG CAI : Former VP and CEO of World Bank Group ’ s IFC • Born in China , and has worked in both the U.S. and China • 1990-1993 – Economist in Central Europe and South Asia for the World Bank • 1994 – Joined Morgan Stanley and was also the Managing Director of the China International Capital Corporation ( CICC ) which launched in 1995 • 2000-2012 @ @ @ @ @ @ @ Group and Chief Executive of Goldman Sachs Gao Hua in China • 2012-2015 – Executive Vice President and CEO of the International Finance Corporation ( IFC ) of the World Bank Group , as one of Jim Yong Kim ’ s top aides .
• 2019 – Partner at Global Infrastructure Partners headquartered in New York • Has served on the board of Aon , Policy Commission of the Asia Society Policy Institute , the International Advisory Board of King Abdullah Petroleum Studies and Research Center , and the International Advisory Board for @ @ @ @ @ @ @ of Oxford Two days after Jin-Yong Cai started his job at the IFC of the World Bank Group , he announced that they will further expand their business in Africa .
Cai said in Dakar that “ IFC will leverage its leading innovative global platform for investments , advisory services , and investment mobilization to do more in the world ’ s poorest countries and fragile states.
” He went on to state that “ A long-term strategic commitment to Sub-Saharan Africa has allowed IFC to become the leading international financial institution promoting @ @ @ @ @ @ @ global expertise , local presence , and products and services are meeting the needs of African private businesses today.
” Cai ’ s focus was on “ Encouraging private investments in energy , infrastructure , and other areas is an important way that IFC can help Senegal fill basic needs.
” One month after his first meeting in Africa , Bill Gates funded the IFC $ 614,708 for sanitation in Kenya and East Africa .
For years , Jin-Yong Cai worked with the Bill & Melinda Gates Foundation , while Gates stuffed the @ @ @ @ @ @ @ running the show , where are the funds really going , and how involved was China in all of this , being as Cai ’ s background is in investment banking in Asia and Bill Gates investments and focus has always been on Africa and South East Asia ?
In April 2013 , the IFC and Bill & Melinda Gates Foundation hosted an event calling on the private sector to deepen its impact on ending extreme poverty by 2030 .
Both Jin-Yong Cai and Jim Yong Kim were in attendance and strategized this @ @ @ @ @ @ @ 2015 report on ‘ Financing African Infrastructure ’ by the Global Economy and Development at Brookings , “ In 2014 , the city of Dakar , with technical assistance from the Gates Foundation , plans to issue the first non-sovereign-backed municipal bond in all of sub-Saharan Africa outside of South Africa .
The $ 41.8 million bond will be backed by a guarantee from the USAID Development Credit Authority .
This will raise funds for the construction of a marketplace for more than 3,500 street vendors.
” The report goes on to review @ @ @ @ @ @ @ rail projects in Africa , concluding that if their more recent estimates are accurate based on prior years , China is clearly the main source for infrastructure financing in sub-Saharan Africa outside of national budgets .
Bill Gates doesn ’ t hide the fact that he “ partners with China for global development.
” According to Gates , “ China has become Africa ’ s largest economic partner.
” In fact , Gates tax returns indicate 34 million shares in China ’ s Everbright International Limited who focuses on energy , water , @ @ @ @ @ @ @ .
During Jin-Yong Cai ’ s time at the IFC , between 2012-2015 , Gates was incredibly generous with grants to develop Africa , alongside his China partners .
In 2013 , he funded the IFC $ 3.2 million to create a roadmap for a computer system in Tanzania .
In 2014 , another $ 3.9 million to IFC to increase access to technologies and smallholder livestock producers in Africa .
In 2014 he funded the IFC another $ 7 million specifically for agricultural development in Africa .
In February 2015 , Gates @ @ @ @ @ @ @ to digitize the health payment system in Bihar in east India and Uttar Pradesh in northern India .
In 2016 and 2017 funding from the Bill & Melinda Gates Foundation totally stopped to the IFC , despite having funded them year after year consecutively during Cai ’ s time as CEO .
Then , in 2018 there was one final grant to the IFC in the amount of $ 5 million to strengthen India ’ s smallholder farmers .
Jin-Yong Cai Submitted his Resignation in 2015 After Coming Under Fire In 2013 , @ @ @ @ @ @ @ in loan commitments in China , and its private sector arm , the International Finance Corp ( IFC ) committed $ 1.64 billion , both while Jim Yong Kim and Jin-Yong Cai were in charge .
In November 2015 , Jin-Yong Cai and Bertrand Badré , two of Jim Yong Kim ’ s top aides , both submitted their resignations after coming under fire earlier that year for an unusual $ 1 billion loan from China .
As reported by The Epoch Times , Badré and Cai worked on the loan from China @ @ @ @ @ @ @ through the International Development Association ( IDA ) .
The Financial Times reported that there was unease among shareholders due to Cai ’ s aggressive investments , particularly to Chinese companies .
As of 2015 , the IFC had invested more than $ 10 billion in over 300 projects with China since 1985 .
Just two weeks after the investigation probe began into the $ 1 billion loan , it was quickly dismissed by Locke Lord Edwards law firm , finding no wrongdoing .
Despite the Bank ’ s treasurer Madelyn Antoncic first @ @ @ @ @ @ @ loan in December 2013 , Jim Yong Kim did not initiate the review until February 2015 .
Cai went on to become partner of Texas Pacific Group ( TPG ) Capital , based in Hong Kong , and three years later left to become a partner at Global Infrastructure Partners ( GIP ) , headquartered in New York – just three months after Jim Yong Kim became a partner at GIP .
Cai ’ s history with Wu Shangzhi , former senior investment officer at the World Bank Group ’ s IFC , @ @ @ @ @ @ @ long before .
Together , they played instrumental roles in the founding of China International Capital Corporation ( CICC ) , the first ever investment banking venture in China .
More on this below .
WU SHANGZHI : Former Senior Investment Officer at the World Bank Group ’ s IFC • Born in Beijing , China , has worked in both the U.S. and China , and currently resides in China • 1984-1991 – Operation Officer at the World Bank specializing in investment projects for China and India • 1991-1993 – Senior Investment @ @ @ @ @ @ @ the World Bank Group • 1995 – Head of CICC ’ s private equity group since its inception Not many people will be familiar with Shangzhi , however , his connections and investments are quite substantial .
From the World Bank and IFC to CICC and CDH , he ’ s been instrumental in several sectors .
Whereas some of his endeavors have little to do with energy power sources , they are very significant ventures with key connections and indicate a long-term plan .
Shangzhi served five years for the World Bank @ @ @ @ @ @ @ and India , followed by two years as a senior investment officer at the IFC arm of the World Bank .
While there , he decided to establish an investment firm in China , and approached GIC Private Limited , Singapore ’ s sovereign wealth fund , which was created in 1981 under the advice of British merchant bank N M Rothschild & Sons .
GIC suggested that Shangzhi join China International Capital Corporation ( CICC ) , an investment bank that GIC was involved with .
The CICC was incorporated by China @ @ @ @ @ @ @ National Investment and Guaranty Co Ltd , GIC , and the Mingly Corporation .
Shangzhi went on to lead until it was split off in 2001 because the China Securities Regulatory Commission prohibited investment banks from doing private equity investments .
During that time , between 1990 and 1993 , Jin-Yong Cai was an economist in Central Europe and South Asia for the World Bank , and joined Morgan Stanley in 1994 while working with Shangzhi to develop the CICC , which officially launched in 1995 .
Cai became the head of CICC @ @ @ @ @ @ @ went on to work for Goldman Sachs from 2000-2012 .
The CICC was the first ever investment banking venture in China , which played a critical role in the Chinese economic transformation .
Wu Shangzhi created a spin-off from CICC in 2002 , along with Jiao Shuge and four other investment professionals .
Their investors come from big companies , such as CICC , Morgan Stanley , Dow Chemical Company , McKinsey & Co , Arthur Andersen .
As a leading investment fund manager focused on China , they manage over $ 21 @ @ @ @ @ @ @ more than 200 companies and helped over 70 companies list on the international and China ’ s domestic stock exchanges .
They invest in several sectors , including ; retail and consumer , industrial manufacturing , financial , high-tech services , medical , and real estate .
In 2014 Chinese firm CDH closed its last flagship private-equity fund at a $ 2.5 billion hard cap .
Some of the large U.S. investors were Oregon State Treasury , the California Public Employees ’ Retirement System and the Texas County & District Retirement System .
@ @ @ @ @ @ @ Portland Oregon , was the State Treasurer , and Chief Investment Officer John Skjervem of seven+ years just resigned on March 31 , 2020 .
The Chief Investment Officer , Yu Ben Meng , of California Public Employees ’ Retirement System ( CalPERS ) resigned on August 5 , 2020 , months after reports came out that the fund invested $ 3.1 billion in Chinese companies , some of which have been blacklisted by the U.S. government .
Meng had been recruited to his position by the Chinese Communist Party through the Thousand @ @ @ @ @ @ @ Pompeo accused the fund of investing in firms that supply the Chinese military .
In 2017 , WSJ reported that CDH was looking to raise $ 2 billion to invest in Chinese companies .
“ An uptick in appetite for Asian buyouts has fueled a fundraising boom in the region this year .
Buyout houses focused on investing in China have raised a record $ 9.4 billion in 2017 , according to Preqin Ltd. Firms raising capital to do deals across Asia have collected $ 24.5 billion , on pace to surpass a @ @ @ @ @ @ @ ” According to CalPERS 2018 performance report , they also have investments with Global Infrastructure Partners , where Jim Yong Kim and Jin-Yong Cai are both partners .
American universities have also invested in CDH .
At a CDH convention , Shangzhi was asked why they are bothering with other services since they have already succeeded in private equity .
“ CDH ’ s total assets management is driven by the demand of the investors .
Investors , especially the donation fund from American universities hoped to cooperate fully with an institution with @ @ @ @ @ @ @ control .
They invested in our venture capital ) and private equity , and endowed us with qualified foreign institutional investor ( QFII ) .
If there are no demands from the investors , i.e.
, no funds from them , things like this would not happen , ” Shangzhi responded .
CDH Owns Smithfield Foods – The Largest Pork Producer in The World Wu Shangzhi ’ s CDH and Goldman Sachs invested $ 256 million in a controlling stake in the Chinese largest pork producer , Shaunaghui Group .
In 2009 , @ @ @ @ @ @ @ for five times what it paid .
Coincidentally , in 2009 CDH was raising $ 1.4 billion for a private equity fund targeting growth-stage companies in China .
It was backed by Singapore ’ s GIC and the World Bank ’ s IFC , where both Shangzhi and Cai both worked for years .
Fast forward to 2013 , when Shaunaghui , now called WH Group , purchased Smithfield Foods , the largest pork producer in the U.S. , making them the largest pork producer in the world .
Smithfield Foods had previously @ @ @ @ @ @ @ Missouri , farmland that was part of the Shaunaghui-Smithfield deal .
How did they accomplish this when Missouri law banned all foreign ownership of land ?
Just one week prior to the purchase , the Missouri legislature amended the law to allow for 1 % of Missouri farmland to be owned by foreign interests ( roughly 289,000 acres ) , which cleared the way for approval .
This allowed them to acquire more than 40,000 acres of Missouri farmland .
Was there pay to play or kickbacks for these legislatures that pulled this @ @ @ @ @ @ @ sale ?
Ironically , during the China coronavirus impacting the U.S. , Smithfield Foods was one of the major meat producers closing up shop , and the Missouri location was sued by an advocacy group .
As of May 2020 , CDH Real Estate Funds are managing 30 assets located across 14 states and 23 cities in the US .
This is a screenshot taken from their real estate page .
According to the USDA ’ s Economic Research Service , Chinese investment in the agricultural sector has grown tenfold between 2009-2016 .
@ @ @ @ @ @ @ the U.S. for quite some time , as have other foreign investors , and CDH ’ s WH Group ( Smithfield ) owns about 150,000 acres alone .
In Ohio , foreigners have bought up a half million acres .
CDH and U.S.-Sanctioned SenseTime Partnered to Co-manage an AI Fund in 2017 CDH and SenseTime set out to raise roughly $ 453 million to invest in firms working on AI technology .
SenseTime provides technology-based applications for facial recognition , video analyzing and autonomous driving , with major clients such as Huawei Technologies @ @ @ @ @ @ @ .
They operate large supercomputers in Chinese cities that handle its facial recognition software .
In October , 2019 the U.S. Commerce Department had placed 28 Chinese public security bureaus and companies on its “ Entity List ” to block them from doing business with American companies .
SenseTime was on this list , which came after the sanction on Huawei due to national security .
“ Specifically , these entities have been implicated in human rights violations and abuses in the implementation of China ’ s campaign of repression , mass arbitrary @ @ @ @ @ @ @ , Kazakhs , and other members of Muslim minority groups , ” the U.S. Commerce Department said .
Side note : The Bill & Melinda Gates Foundation Trust held over $ 50 million in China Mobile common stocks , according to their 2018 tax filing .
They also held over $ 10 million in Hangzhou Hikvision Digital common stock , which is one of the sanctioned Chinese companies that is a large security camera maker and utilizes US-made features in their cameras , including pre-installed Microsoft Windows 10 .
These are but a @ @ @ @ @ @ @ s investments and reach .
Who is Global Infrastructure Partners ( GIP ) Where Fmr World Bank President & Fmr Director of the IFC Are Currently Partners At ?
An infrastructure investment fund founded in 2006 , GIP is headquartered in New York City , with a focus on infrastructure assets in the energy , transportation , ports , and water/waste sectors .
It operates as a partnership consisting of 22 partners , with five being founding partners .
They are currently one of the largest clean energy companies in the United States @ @ @ @ @ @ @ Kim resigned from the World Bank in 2019 , three years before his term was up , he went on to become a partner .
Likewise , just three months later , his former aide and head of the World Bank ’ s Arm International Finance Corporation Jin-Yong Cai also became a partner at GIP after a 2-year stint at Texas Pacific Group ( TPG ) Capital , who has also partnered with CDH .
2011 marked a big year for the Obama administration dumping billions in loans into the “ clean energy @ @ @ @ @ @ @ designated to projects owned by Global Infrastructure Partners .
These took place just months before Jim Yong Kim was appointed to World Bank President .
A lot was happening in 2011 and 2012 around Obama ’ s big “ solar project ” government loan guarantees .
President Trump ’ s Department of Energy just recently recovered $ 200 million in taxpayer funds from a 2011 $ 737 million loan by the Obama administration to Tonopah Solar Energy to finance the $ 1.1 billion Crescent Dunes Solar Energy Project in Nevada that was deemed @ @ @ @ @ @ @ funds were distributed just three weeks after Solyndra received $ 535 million from the Obama administration , just prior to filing for bankruptcy .
In 2012 , the heat was turned up again , when Jim Jordan ( R-Ohio ) , subcommittee chairman of the Committee on Government Oversight and Reform , summoned executives of solar and geothermal companies that received stimulus money , and alleged that BrightSource won its loan guarantee based on its close relationship with the DOE and Obama administration .
There were emails of concern , and the former @ @ @ @ @ @ @ had become Obama ’ s Secretary of Commerce .
There were also concerns over First Solar ’ s chairman Michael Ahearn selling $ 450 million in shares over a three-day period .
Coincidentally , VP of Development Patrick Sullivan , joined Clearway Energy , owned by Global Infrastructure Partners , in 2013 , after working as the Senior Director of Business Development for BrightSource Energy .
• Also includes controlling stake and 46 % economic interest in NRG Yield , Inc. which is diversified across wind , solar , natural gas technologies , @ @ @ @ @ @ @ generation servicing businesses , universities , hospitals , and government customers • Also includes O & M and development businesses which operates renewable power generation in 17 states • Owns and operates the largest portion of Alta Wind Energy Centre in Kern County , California , which is one of the world largest wind farms .
• NRG has partnered with the Clinton Foundation to provide solar energy to Haiti , among other projects , as well as developing a microgrid on Necker Island with Richard Branson ’ s company , Virgin Limited @ @ @ @ @ @ @ Inc. • Clearway Energy Inc. ’ s portfolio includes 7,000 megawatts of wind , solar , and natural gas-fired power generation facilities across North America • Its parent organization , Clearway Energy Group , has solar and wind energy assets in 25 states , with a development pipeline across the country • In September 2018 , Clearway Acquired SunPower , with a solar pipeline consisting of 4.7 gigawatt utility-scale solar development spanning 16 states .
One year later , they earned a Chinese invention patent for their shingled solar cell manufacturing method .
@ @ @ @ @ @ @ most deployed shingled cell solar panels in the world , ” and were named a “ top performer ” by DNV GL , an independent energy expert and certification body .
DNV GL is partnered with the Clinton Foundation , Richard Branson , and others in the Ten Island Pilot Program that Corey ’ s Digs reported on in 2018 .
• Coincidentally , VP of Development Patrick Sullivan , joined Clearway in 2013 , just one year after the DOE/BrightSource alleged scandal broke , after working as the Senior Director of Business @ @ @ @ @ @ @ China Investment Corp to Acquire Equis Energy in 2018 • Asia ’ s largest independent renewable energy power producer in Asia-Pacific with over 180 assets in solar , wind , and hydro generation across Australia , Japan , India and the Philippines • It was the largest renewable energy generation acquisition in history • GIP holds a 50 % stake , CIC between 10-20 % , and the Public Sector Pension Investment Board of Canada also owns a 10-20 % stake • TIL invests in , develops and manages container terminals around the @ @ @ @ @ @ @ 37 terminals in 26 countries GIP has investments in multiple ports across the world , as well as a few airports .
All of the above is a mere snapshot of some of GIP ’ s bigger acquisitions and investments , primarily in the energy sector .
Protecting Our Bulk-Power System and Technology from Bad Actors If you think “ nothing is happening , ” you couldn ’ t be more wrong .
There are a lot of moving parts happening behind the scenes , and when smaller pieces of the puzzle are @ @ @ @ @ @ @ the dots to see the bigger picture .
Most people are focused on indictments and justice – rightfully so – however , there are critical actions being made in regards to our national security , the daily activities we all carry out , and protections put in place on a grander scale .
When reviewing the timeline of these actions , it is clear that President Trump publicly expressed these concerns as far back as 2012 , long before he was president .
Our power grid , electricity generation , renewables , manufactured @ @ @ @ @ @ @ very things that allow us to thrive and survive .
Without power , it would obviously be disastrous , upsetting our entire infrastructure and putting lives at risk .
Investments in electricity production from renewable energy exceeds $ 250 billion annually , with China leading the way .
They helped create the fear of “ climate change ” to monopolize this industry and the manufacturing of parts to be sold to the U.S. , while the Obama administration , Clintons , and others pushed for loans , grants , and legislation that helped @ @ @ @ @ @ @ funds and universities are investing in China , while China buys up land and the biggest pork producer in the U.S .
When we look at just a few of those involved and see their nefarious connections , and their ties dating back to the World Bank and IFC , and observe the plays being made , one can understand the concerns over these power grabs and the need to lock it down , which the Trump administration has been doing while everyone has been distracted by Spygate and COVID .
Article posted @ @ @ @ @ @ @ published at CoreysDigs.com

n May 1, 2020, President Trump signed executive order “Securing the United States Bulk-Power System,” which was one of the most important executive orders to date, yet it was a blip on most people’s radar. In fact, there have been a string of key executive orders and bills put in place regarding the power supply and technology sectors to protect the U.S. from potential harm. While all eyes have been on 5G and Huawei, few seem to be paying attention to the bigger picture – electricity, solar, “climate change” agendas, manufactured parts, foreign interference and outsourcing – essentially, our entire powered infrastructure.
Part 1 of this report breaks down the timeline of key executive orders, bills, actions, and events that are critical to protecting the U.S., and reflects all the way back to 2012, showing where President Trump’s thought process was at long before he became president. It is essential reading to understand the magnitude of what is at stake and some of the protections that have been put in place.
There are three individuals who have played vital roles in taking advantage of the U.S., running specific deals to benefit China, and focusing on monopolizing the energy and technology industries, among others, from high positions of financial authority, two of whom have flown under the radar with most people. This report exposes some of these endeavors.
Parts 1 & 2 of this 30-page report are also available in The Bookshop in a single pdf download.
Three Key Players Flying Under The Radar
Click on image to enlarge
Corey’s Digs has reported extensively on former World Bank President Jim Yong Kim, his ties to Dartmouth, HIV/AIDS slush fund, Bill Gates and the Clintons, the World Health Organization, and recent involvement with COVID-19 contact tracing. This report covers another industry he is heavily involved in, along with two other individuals that no one is talking about, both of whom were born in China.
Coincidentally, all of these men graduated high profile schools within a 4-mile radius of one another, and all within six years of each other, who went on to work for the World Bank with overlapping timeframes. But there are a lot more coincidences documented below.
Wu Shangzhi graduated MIT with a PhD in mechanical engineering in 1985
Jin-Yong Cai graduated Boston University with a PhD in economics in 1990
Jim Yong Kim graduated Harvard Medical School with an M.D. in 1991, and PhD in anthropology from Harvard University in 1993
Partners in Health was formed in 1987 by Jim Yong Kim, along with four co-founders, including Paul Farmer who graduated Harvard University in 1990. Kim and Farmer are at the forefront of the contact tracing agenda for COVID-19, both having deep ties to the Clintons and Bill Gates.
It should be noted that Bill Gates funds all of those schools, in addition to other schools they have attended as well, including those in China.
Wu Shangzhi, Jin-Yong Cai, and Jim Yong Kim all formerly worked for the World Bank in high-ranking positions, with overlapping time frames.
Wu Shangzhi
1984-1991 – Operation Officer at the World Bank specializing in investment projects for China and India
1991-1993 – Senior Investment Officer at the International Finance Corporation of the World Bank Group
Jin-Yong Cai
1990-1993 – Economist in Central Europe and South Asia for the World Bank
2012-2015 – CEO of the International Finance Corporation of the World Bank Group
Jim Yong Kim
2012-2019 – President of the World Bank
Both Jim Yong Kim and Jin-Yong Cai currently work for Global Infrastructure Partners (GIP). They began working with GIP just three months apart.
• Jim Yong Kim began on February 1, 2019 after resigning from the World Bank.
• Jin-Yong Cai began in May, 2019 after departing TGP Capital.
Both Jin-Yong Cai and Wu Shangzhi played instrumental roles in the founding of China International Capital Corporation (CICC) in 1995, the first ever investment banking venture in China, which played a critical role in the Chinese economic transformation. More on this further down.
• Jin-Yong Cai was the Managing Director to the China International Capital Corporation (CICC) at its inception.
• Wu Shangzhi was the head of CICC’s private equity group from its inception.
Both Jim Yong Kim and Jin-Yong Cai have decades-long ties to Bill Gates, as well as funding his endeavors while they worked for the World Bank. Gates also has very strong ties to the technology, energy, and climate sectors, as well as to China.
JIM YONG KIM: Former World Bank President and Current GlP partner
• Born in South Korea, raised in the U.S. where he currently resides
• 1983 – Co-founded Partners in Health in Zanmi Lasante in Cange, Haiti
• 1987 – Co-founded Partners in Health in the U.S.
• 1991 – Graduated Harvard Medical School with an M.D.
• 1993 – Graduated Harvard University with a PhD in anthropology
• 2003 – Advisor to Director-General World Health Organization and Director of HIV/AIDS Dept.
• 2006-2009 – Various positions affiliated with Harvard
• 2009-2012 – President of Dartmouth College
• 2012-2019 – President of the World Bank
• 2019 – Partner at Global Infrastructure Partners
• Kim has received the MacArthur “Genius” Fellowship, was recognized as one of America’s “25 Best Leaders” by U.S. News & World Report, and was named TIME magazine’s “100 Most Influential People in The World.”
In January 2019, Kim resigned from the World Bank three years early, after a 7-year stint, being appointed by former President Barack Obama, and selected by none other than Hillary Clinton. This was a very significant position to just walk away from, so there had to be irons in the fire to carry out far greater agendas that he was no longer able to carry out through the World Bank. On February 1, 2019, he became a partner at Global Infrastructure Partners (GIP) based out of New York. They are a large equity investment firm, investing in the energy sector, ports, infrastructure, and transportation. (More on GIP below.) While those endeavors continue, he is also working with his co-founders of Partners in Health, Ophelia Dahl and Paul Farmer on implementing COVID-19 contact tracing surveillance in multiple states. You can read much more about Kim’s history in other reports by Corey’s Digs, in addition to his decades-long work with the Clintons and Bill Gates.
Kim also has long-standing relationships with Dr. Anthony Fauci and Deborah Birx, as they have all been involved in the HIV/AIDS agenda, going back decades. In fact, they even produced a movie titled ‘Bending The Arc’ which tells the story of Partners in Health changing global health, and had both Fauci and Birx at the screening and as panelists, in 2018. The panel discussion entailed talks about how they would “bolster leadership and investment to conquer pressing global threats like famine, refugee crises, and pandemic disease.”
During Kim’s time at the World Bank, they financially supported three urban transport projects in the Wuhan China metropolitan region, with $120 million funded in February 2016 alone. Well before Kim’s time at the World Bank, in 1999 the IFC had invested $11.5 million for China Infrastructure’s Wuhan International Container Transshipment project.
In 2012, Kim’s predecessor Robert Zoellick, who now serves on the board of directors for Twitter, (I know, it’s difficult to keep up with all of these shenanigans), had worked diligently on the ‘China 2030’ report on ‘Building a Modern, Harmonious, and Creative Society’ by the World Bank and the Development Research Center of the State Council, Beijing’s cabinet, which is a 470-page blueprint for China’s transition from an export-driven economy to a consumer-led one.
The report is packed full of information, data, and ranking comparisons between countries, especially with the United States, and includes China’s lead in several areas of the energy industry. By 2012, China had become the world’s largest manufacturer, largest exporter, and second-largest economy.
Remember this tweet from 2012, four years prior to Donald Trump becoming President, along with the 30% tariffs he imposed on solar panels abroad in 2018?
One of Kim’s top aides was Jin-Yong Cai, the VP and CEO of World Bank Group’s IFC, at the time. They forged quite a relationship, got into a bit of hot water, and a few years later both became partners at Global Infrastructure Partners. (more on that below).
JIN-YONG CAI: Former VP and CEO of World Bank Group’s IFC
• Born in China, and has worked in both the U.S. and China
• 1982 – Science degree from Peking University
• 1990 – PhD in economics from Boston University
• 1990-1993 – Economist in Central Europe and South Asia for the World Bank
• 1994 – Joined Morgan Stanley and was also the Managing Director of the China International Capital Corporation (CICC) which launched in 1995
• 2000-2012 – Participating Managing Director in Goldman Sachs Group and Chief Executive of Goldman Sachs Gao Hua in China
• 2012-2015 – Executive Vice President and CEO of the International Finance Corporation (IFC) of the World Bank Group, as one of Jim Yong Kim’s top aides.
• 2016-2019 – Partner of Texas Pacific Group (TPG) Capital, based in Hong Kong
• 2019 – Partner at Global Infrastructure Partners headquartered in New York
• Has served on the board of Aon, Policy Commission of the Asia Society Policy Institute, the International Advisory Board of King Abdullah Petroleum Studies and Research Center, and the International Advisory Board for Blavatnik School of Government and the University of Oxford
Two days after Jin-Yong Cai started his job at the IFC of the World Bank Group, he announced that they will further expand their business in Africa. Cai said in Dakar that “IFC will leverage its leading innovative global platform for investments, advisory services, and investment mobilization to do more in the world’s poorest countries and fragile states.” He went on to state that “A long-term strategic commitment to Sub-Saharan Africa has allowed IFC to become the leading international financial institution promoting private sector investment. IFC’s global expertise, local presence, and products and services are meeting the needs of African private businesses today.”
Cai’s focus was on “Encouraging private investments in energy, infrastructure, and other areas is an important way that IFC can help Senegal fill basic needs.” One month after his first meeting in Africa, Bill Gates funded the IFC $614,708 for sanitation in Kenya and East Africa.
For years, Jin-Yong Cai worked with the Bill & Melinda Gates Foundation, while Gates stuffed the IFC with millions. Who’s running the show, where are the funds really going, and how involved was China in all of this, being as Cai’s background is in investment banking in Asia and Bill Gates investments and focus has always been on Africa and South East Asia?
In April 2013, the IFC and Bill & Melinda Gates Foundation hosted an event calling on the private sector to deepen its impact on ending extreme poverty by 2030. Both Jin-Yong Cai and Jim Yong Kim were in attendance and strategized this goal with Gates.
According to a 2015 report on ‘Financing African Infrastructure’ by the Global Economy and Development at Brookings, “In 2014, the city of Dakar, with technical assistance from the Gates Foundation, plans to issue the first non-sovereign-backed municipal bond in all of sub-Saharan Africa outside of South Africa. The $41.8 million bond will be backed by a guarantee from the USAID Development Credit Authority. This will raise funds for the construction of a marketplace for more than 3,500 street vendors.”
The report goes on to review investments in infrastructure and major power and rail projects in Africa, concluding that if their more recent estimates are accurate based on prior years, China is clearly the main source for infrastructure financing in sub-Saharan Africa outside of national budgets.
Bill Gates doesn’t hide the fact that he “partners with China for global development.” According to Gates, “China has become Africa’s largest economic partner.” In fact, Gates tax returns indicate 34 million shares in China’s Everbright International Limited who focuses on energy, water, and environment in Africa and other countries.
During Jin-Yong Cai’s time at the IFC, between 2012-2015, Gates was incredibly generous with grants to develop Africa, alongside his China partners.
In 2013, he funded the IFC $3.2 million to create a roadmap for a computer system in Tanzania.
In 2014, another $3.9 million to IFC to increase access to technologies and smallholder livestock producers in Africa.
In 2014 he funded the IFC another $7 million specifically for agricultural development in Africa.
In February 2015, Gates funded the IFC nearly $10 million to digitize the health payment system in Bihar in east India and Uttar Pradesh in northern India.
In 2016 and 2017 funding from the Bill & Melinda Gates Foundation totally stopped to the IFC, despite having funded them year after year consecutively during Cai’s time as CEO. Then, in 2018 there was one final grant to the IFC in the amount of $5 million to strengthen India’s smallholder farmers.
Jin-Yong Cai Submitted his Resignation in 2015 After Coming Under Fire
In 2013, The World Bank made $1.65 billion in loan commitments in China, and its private sector arm, the International Finance Corp (IFC) committed $1.64 billion, both while Jim Yong Kim and Jin-Yong Cai were in charge.
In November 2015, Jin-Yong Cai and Bertrand Badré, two of Jim Yong Kim’s top aides, both submitted their resignations after coming under fire earlier that year for an unusual $1 billion loan from China. As reported by The Epoch Times, Badré and Cai worked on the loan from China that allowed China to increase its lending through the International Development Association (IDA). The Financial Times reported that there was unease among shareholders due to Cai’s aggressive investments, particularly to Chinese companies. As of 2015, the IFC had invested more than $10 billion in over 300 projects with China since 1985.
Just two weeks after the investigation probe began into the $1 billion loan, it was quickly dismissed by Locke Lord Edwards law firm, finding no wrongdoing. Despite the Bank’s treasurer Madelyn Antoncic first raising questions about the handling of the loan in December 2013, Jim Yong Kim did not initiate the review until February 2015.
Cai went on to become partner of Texas Pacific Group (TPG) Capital, based in Hong Kong, and three years later left to become a partner at Global Infrastructure Partners (GIP), headquartered in New York – just three months after Jim Yong Kim became a partner at GIP.
Cai’s history with Wu Shangzhi, former senior investment officer at the World Bank Group’s IFC, dates back to 1995, and likely long before. Together, they played instrumental roles in the founding of China International Capital Corporation (CICC), the first ever investment banking venture in China. More on this below.
WU SHANGZHI: Former Senior Investment Officer at the World Bank Group’s IFC
• Born in Beijing, China, has worked in both the U.S. and China, and currently resides in China
• 1985 – Graduated MIT with a PhD in mechanical engineering
• 1984-1991 – Operation Officer at the World Bank specializing in investment projects for China and India
• 1991-1993 – Senior Investment Officer at the International Finance Corporation of the World Bank Group
• Returned to China
• 1992 – began working on CICC
• 1995 – Head of CICC’s private equity group since its inception
• 2002 – Established CDH Venture with six founding partners
Not many people will be familiar with Shangzhi, however, his connections and investments are quite substantial. From the World Bank and IFC to CICC and CDH, he’s been instrumental in several sectors. Whereas some of his endeavors have little to do with energy power sources, they are very significant ventures with key connections and indicate a long-term plan.
Shangzhi served five years for the World Bank, specializing in investment projects for China and India, followed by two years as a senior investment officer at the IFC arm of the World Bank. While there, he decided to establish an investment firm in China, and approached GIC Private Limited, Singapore’s sovereign wealth fund, which was created in 1981 under the advice of British merchant bank N M Rothschild & Sons. GIC suggested that Shangzhi join China International Capital Corporation (CICC), an investment bank that GIC was involved with. The CICC was incorporated by China Construction Bank, Morgan Stanley, China National Investment and Guaranty Co Ltd, GIC, and the Mingly Corporation. Shangzhi went on to lead until it was split off in 2001 because the China Securities Regulatory Commission prohibited investment banks from doing private equity investments.
During that time, between 1990 and 1993, Jin-Yong Cai was an economist in Central Europe and South Asia for the World Bank, and joined Morgan Stanley in 1994 while working with Shangzhi to develop the CICC, which officially launched in 1995. Cai became the head of CICC’s private equity group, then went on to work for Goldman Sachs from 2000-2012. The CICC was the first ever investment banking venture in China, which played a critical role in the Chinese economic transformation.
CDH Spin-off from CICC in 2002
Wu Shangzhi created a spin-off from CICC in 2002, along with Jiao Shuge and four other investment professionals. Their investors come from big companies, such as CICC, Morgan Stanley, Dow Chemical Company, McKinsey & Co, Arthur Andersen. As a leading investment fund manager focused on China, they manage over $21 billion in assets, have invested in more than 200 companies and helped over 70 companies list on the international and China’s domestic stock exchanges. They invest in several sectors, including; retail and consumer, industrial manufacturing, financial, high-tech services, medical, and real estate.
CDH, Oregon State Treasury, California Public Employees’ Retirement System and American Universities
In 2014 Chinese firm CDH closed its last flagship private-equity fund at a $2.5 billion hard cap. Some of the large U.S. investors were Oregon State Treasury, the California Public Employees’ Retirement System and the Texas County & District Retirement System. In 2014, Mayor Ted Wheeler of Portland Oregon, was the State Treasurer, and Chief Investment Officer John Skjervem of seven+ years just resigned on March 31, 2020.
The Chief Investment Officer, Yu Ben Meng, of California Public Employees’ Retirement System (CalPERS) resigned on August 5, 2020, months after reports came out that the fund invested $3.1 billion in Chinese companies, some of which have been blacklisted by the U.S. government. Meng had been recruited to his position by the Chinese Communist Party through the Thousand Talents Program. Secretary of State Mike Pompeo accused the fund of investing in firms that supply the Chinese military.
In 2017, WSJ reported that CDH was looking to raise $2 billion to invest in Chinese companies. “An uptick in appetite for Asian buyouts has fueled a fundraising boom in the region this year. Buyout houses focused on investing in China have raised a record $9.4 billion in 2017, according to Preqin Ltd. Firms raising capital to do deals across Asia have collected $24.5 billion, on pace to surpass a $24.8 billion record set in 2014.”
According to CalPERS 2018 performance report, they also have investments with Global Infrastructure Partners, where Jim Yong Kim and Jin-Yong Cai are both partners.
American universities have also invested in CDH. At a CDH convention, Shangzhi was asked why they are bothering with other services since they have already succeeded in private equity. “CDH’s total assets management is driven by the demand of the investors. Investors, especially the donation fund from American universities hoped to cooperate fully with an institution with rich experience, fine culture and risk control. They invested in our venture capital) and private equity, and endowed us with qualified foreign institutional investor (QFII). If there are no demands from the investors, i.e., no funds from them, things like this would not happen,” Shangzhi responded.
CDH Owns Smithfield Foods – The Largest Pork Producer in The World
Wu Shangzhi’s CDH and Goldman Sachs invested $256 million in a controlling stake in the Chinese largest pork producer, Shaunaghui Group. In 2009, Goldman sold its stake back to CDH for five times what it paid. Coincidentally, in 2009 CDH was raising $1.4 billion for a private equity fund targeting growth-stage companies in China. It was backed by Singapore’s GIC and the World Bank’s IFC, where both Shangzhi and Cai both worked for years.
Fast forward to 2013, when Shaunaghui, now called WH Group, purchased Smithfield Foods, the largest pork producer in the U.S., making them the largest pork producer in the world.
Smithfield Foods had previously acquired Premium Standard Farms in Princeton, Missouri, farmland that was part of the Shaunaghui-Smithfield deal. How did they accomplish this when Missouri law banned all foreign ownership of land? Just one week prior to the purchase, the Missouri legislature amended the law to allow for 1% of Missouri farmland to be owned by foreign interests (roughly 289,000 acres), which cleared the way for approval. This allowed them to acquire more than 40,000 acres of Missouri farmland. Was there pay to play or kickbacks for these legislatures that pulled this off just one week prior to the sale?
Ironically, during the China coronavirus impacting the U.S., Smithfield Foods was one of the major meat producers closing up shop, and the Missouri location was sued by an advocacy group.
As of May 2020, CDH Real Estate Funds are managing 30 assets located across 14 states and 23 cities in the US.
This is a screenshot taken from their real estate page.
According to the USDA’s Economic Research Service, Chinese investment in the agricultural sector has grown tenfold between 2009-2016. China has been buying up land in the U.S. for quite some time, as have other foreign investors, and CDH’s WH Group (Smithfield) owns about 150,000 acres alone. In Ohio, foreigners have bought up a half million acres.
CDH and U.S.-Sanctioned SenseTime Partnered to Co-manage an AI Fund in 2017
CDH and SenseTime set out to raise roughly $453 million to invest in firms working on AI technology. SenseTime provides technology-based applications for facial recognition, video analyzing and autonomous driving, with major clients such as Huawei Technologies, China Mobile, and HNA Group. They operate large supercomputers in Chinese cities that handle its facial recognition software.
In October, 2019 the U.S. Commerce Department had placed 28 Chinese public security bureaus and companies on its “Entity List” to block them from doing business with American companies. SenseTime was on this list, which came after the sanction on Huawei due to national security. “Specifically, these entities have been implicated in human rights violations and abuses in the implementation of China’s campaign of repression, mass arbitrary detention, and high-technology surveillance against Uighurs, Kazakhs, and other members of Muslim minority groups,” the U.S. Commerce Department said.
Side note: The Bill & Melinda Gates Foundation Trust held over $50 million in China Mobile common stocks, according to their 2018 tax filing. They also held over $10 million in Hangzhou Hikvision Digital common stock, which is one of the sanctioned Chinese companies that is a large security camera maker and utilizes US-made features in their cameras, including pre-installed Microsoft Windows 10.
These are but a few examples of the Chinese company’s investments and reach.
Who is Global Infrastructure Partners (GIP) Where Fmr World Bank President & Fmr Director of the IFC Are Currently Partners At?
An infrastructure investment fund founded in 2006, GIP is headquartered in New York City, with a focus on infrastructure assets in the energy, transportation, ports, and water/waste sectors. It operates as a partnership consisting of 22 partners, with five being founding partners. They are currently one of the largest clean energy companies in the United States due to acquisitions.
When Jim Yong Kim resigned from the World Bank in 2019, three years before his term was up, he went on to become a partner. Likewise, just three months later, his former aide and head of the World Bank’s Arm International Finance Corporation Jin-Yong Cai also became a partner at GIP after a 2-year stint at Texas Pacific Group (TPG) Capital, who has also partnered with CDH.
Obama Administration’s DOE Contracted with GIP
2011 marked a big year for the Obama administration dumping billions in loans into the “clean energy” sector. Three of those were designated to projects owned by Global Infrastructure Partners. These took place just months before Jim Yong Kim was appointed to World Bank President.
August 2011 – Agua Caliente project in Yuma County, AZ – $967 million
September 2011 – California Valley Solar Ranch project – $1.2 billion
September 2011 – Desert Sunlight project in Riverside County, CA – $1.5
A lot was happening in 2011 and 2012 around Obama’s big “solar project” government loan guarantees. President Trump’s Department of Energy just recently recovered $200 million in taxpayer funds from a 2011 $737 million loan by the Obama administration to Tonopah Solar Energy to finance the $1.1 billion Crescent Dunes Solar Energy Project in Nevada that was deemed obsolete before it went online. These funds were distributed just three weeks after Solyndra received $535 million from the Obama administration, just prior to filing for bankruptcy.
In 2012, the heat was turned up again, when Jim Jordan (R-Ohio), subcommittee chairman of the Committee on Government Oversight and Reform, summoned executives of solar and geothermal companies that received stimulus money, and alleged that BrightSource won its loan guarantee based on its close relationship with the DOE and Obama administration. There were emails of concern, and the former chairman of BrightSource, John Bryson, had become Obama’s Secretary of Commerce. There were also concerns over First Solar’s chairman Michael Ahearn selling $450 million in shares over a three-day period.
Coincidentally, VP of Development Patrick Sullivan, joined Clearway Energy, owned by Global Infrastructure Partners, in 2013, after working as the Senior Director of Business Development for BrightSource Energy.
GIP Acquisitions and Investments
Acquired NRG Energy Inc.’s Renewable Energy Business in 2018
• Also includes controlling stake and 46% economic interest in NRG Yield, Inc. which is diversified across wind, solar, natural gas technologies, and owns thermal infrastructure assets with electric generation servicing businesses, universities, hospitals, and government customers
• Also includes O&M and development businesses which operates renewable power generation in 17 states
• Owns and operates the largest portion of Alta Wind Energy Centre in Kern County, California, which is one of the world largest wind farms.
• NRG has partnered with the Clinton Foundation to provide solar energy to Haiti, among other projects, as well as developing a microgrid on Necker Island with Richard Branson’s company, Virgin Limited Edition
NRG was Renamed to Clearway Energy Inc.
• Clearway Energy Inc.’s portfolio includes 7,000 megawatts of wind, solar, and natural gas-fired power generation facilities across North America
• Its parent organization, Clearway Energy Group, has solar and wind energy assets in 25 states, with a development pipeline across the country
• In September 2018, Clearway Acquired SunPower, with a solar pipeline consisting of 4.7 gigawatt utility-scale solar development spanning 16 states. One year later, they earned a Chinese invention patent for their shingled solar cell manufacturing method. Their Performance Series panels are “the most deployed shingled cell solar panels in the world,” and were named a “top performer” by DNV GL, an independent energy expert and certification body. DNV GL is partnered with the Clinton Foundation, Richard Branson, and others in the Ten Island Pilot Program that Corey’s Digs reported on in 2018.
• Some subsidiaries include: Buckthorn Renewables LLC, Rattlesnake Flat LLC, Somerset Wind LLC, Greenmountain Wind LLC
• Coincidentally, VP of Development Patrick Sullivan, joined Clearway in 2013, just one year after the DOE/BrightSource alleged scandal broke, after working as the Senior Director of Business Development for BrightSource Energy
GIP Partnered with China Investment Corp to Acquire Equis Energy in 2018
• Asia’s largest independent renewable energy power producer in Asia-Pacific with over 180 assets in solar, wind, and hydro generation across Australia, Japan, India and the Philippines
• It was the largest renewable energy generation acquisition in history
• GIP holds a 50% stake, CIC between 10-20%, and the Public Sector Pension Investment Board of Canada also owns a 10-20% stake
GIP purchased 35% of Mediterranean Shipping Company’s (MSC) terminal division, Terminal Investment Limited SA (TIL) in 2013
• TIL invests in, develops and manages container terminals around the world, with material ownership interests in 37 terminals in 26 countries
GIP has investments in multiple ports across the world, as well as a few airports. All of the above is a mere snapshot of some of GIP’s bigger acquisitions and investments, primarily in the energy sector.
Protecting Our Bulk-Power System and Technology from Bad Actors
If you think “nothing is happening,” you couldn’t be more wrong. There are a lot of moving parts happening behind the scenes, and when smaller pieces of the puzzle are released, many don’t connect the dots to see the bigger picture. Most people are focused on indictments and justice – rightfully so – however, there are critical actions being made in regards to our national security, the daily activities we all carry out, and protections put in place on a grander scale.
When reviewing the timeline of these actions, it is clear that President Trump publicly expressed these concerns as far back as 2012, long before he was president. Our power grid, electricity generation, renewables, manufactured parts, and technology, are the very things that allow us to thrive and survive. Without power, it would obviously be disastrous, upsetting our entire infrastructure and putting lives at risk.
Investments in electricity production from renewable energy exceeds $250 billion annually, with China leading the way. They helped create the fear of “climate change” to monopolize this industry and the manufacturing of parts to be sold to the U.S., while the Obama administration, Clintons, and others pushed for loans, grants, and legislation that helped China with this endeavor. U.S. pension funds and universities are investing in China, while China buys up land and the biggest pork producer in the U.S. When we look at just a few of those involved and see their nefarious connections, and their ties dating back to the World Bank and IFC, and observe the plays being made, one can understand the concerns over these power grabs and the need to lock it down, which the Trump administration has been doing while everyone has been distracted by Spygate and COVID.
Article posted with permission from Corey Lynn, originally published at CoreysDigs.com


thewashingtonstandard--2020-09-04--Standing Up Down Under:  Arrested  For Promoting Peaceful Protests

The world was shocked by video of a pregnant mother being arrested for simply posting a time and date of a peaceful anti-lockdown protest on her Facebook page .
However , she is not the only one this has happened to and on Saturday , September 5 , 2020 , Aussies are still set to gather and protest their government , but working against the law , their government is arresting them and intimidating them .
Fanos Panayides is a young man that faced the same fate just this week and was threatened to not use social media until Sunday @ @ @ @ @ @ @ He joins me in this episode just hours before the protest to tell us what is going on in the land down under .
Additional articles with video and Australian law mentioned in this episode .
This first part is also the brief post that I quoted at the beginning of the show .
The First time I saw this statement I knew I had run across one of the most profound things I had ever read , certainly one of the most profound insights into human nature , but I still didn @ @ @ @ @ @ @ ’ s really very simple .
Love desires the good of its object , so Love wants to grant that object as much freedom as possible .
Thus even God , when he saves men , does not turn them into robotic copies of himself .
( Besides , no single man exhaustively portrays the image of God , because God ’ s infinite variety can not be exhausted .
That ’ s why God makes so many men . )
Rather , God saves us to be what he intended in Eden @ @ @ @ @ @ @ what we are .
Of course , that freedom is not autonomy , but freedom to do whatever God gives us a moral right to do .
On the other hand , the tyrant ( whether spouse or friend , parent or policitican ) aims to fill the world with exact robotic duplicates of himself .
Hitler and Stalin , for example , wanted to fill the world with the “ New German Man ” or “ Socialist Man , ” who were in the end only copies of themselves .
They desired @ @ @ @ @ @ @ but power .
Power to make the object just like themselves .
Power , the opposite of love , is actually Pride , the ultimate self-centeredness , and of course , the ultimate sin .
The opposite of the lover is the tyrant .
Rather , we delight in them precisely because they do see the world differently and in the way unique to them .
All the efforts of our love aim at helping them unfold what they are more and more completely , to stay out of the way of hindering @ @ @ @ @ @ @ to here and still wonder what I am talking about , don ’ t worry .
It takes a while to grasp .
Just look around you and start applying this simple idea : “ The opposite of love is not hate , but power.
” Here are the banners .
If you are in Australia , you need to group with as many as possible and show up on Saturday !
Partner with us as a Son or Daughter of Liberty : https : //thesonsofliberty.squarespace.com/membership/ Article posted with permission from Sons of @ @

The world was shocked by video of a pregnant mother being arrested for simply posting a time and date of a peaceful anti-lockdown protest on her Facebook page. However, she is not the only one this has happened to and on Saturday, September 5, 2020, Aussies are still set to gather and protest their government, but working against the law, their government is arresting them and intimidating them. Fanos Panayides is a young man that faced the same fate just this week and was threatened to not use social media until Sunday or he would be arrested again. He joins me in this episode just hours before the protest to tell us what is going on in the land down under.
Additional articles with video and Australian law mentioned in this episode. This first part is also the brief post that I quoted at the beginning of the show.
THE OPPOSITE OF LOVE by Franklin Sanders
The opposite of Love is not hate, but power. — Andrew Nelson Lytle
The First time I saw this statement I knew I had run across one of the most profound things I had ever read, certainly one of the most profound insights into human nature, but I still didn’t nearly understand it.
THE LOVER’S OBJECT
It’s really very simple. Love desires the good of its object, so Love wants to grant that object as much freedom as possible. Thus even God, when he saves men, does not turn them into robotic copies of himself. (Besides, no single man exhaustively portrays the image of God, because God’s infinite variety cannot be exhausted. That’s why God makes so many men.)
Rather, God saves us to be what he intended in Eden, with the fullest freedom to unfold what we are. Of course, that freedom is not autonomy, but freedom to do whatever God gives us a moral right to do.
THE TYRANT’S OBJECT
On the other hand, the tyrant (whether spouse or friend, parent or policitican) aims to fill the world with exact robotic duplicates of himself. Hitler and Stalin, for example, wanted to fill the world with the “New German Man” or “Socialist Man,” who were in the end only copies of themselves.
They desired not the good of their object, but power. Power to make the object just like themselves. Power, the opposite of love, is actually Pride, the ultimate self-centeredness, and of course, the ultimate sin. The opposite of the lover is the tyrant.
So when we truly love a wife, or child, or friend, we do not constantly fret that they view the world differently than we do, desire different goals, or approach tasks differently.
Rather, we delight in them precisely because they do see the world differently and in the way unique to them. All the efforts of our love aim at helping them unfold what they are more and more completely, to stay out of the way of hindering them.
The lover wants the beloved to become more fully herself.
If you have just read to here and still wonder what I am talking about, don’t worry. It takes a while to grasp. Just look around you and start applying this simple idea: “The opposite of love is not hate, but power.”
It explains everything about America today.
https://www.humanrights.vic.gov.au/for-individuals/right-to-freedom-of-expression/
https://www.humanrights.vic.gov.au/for-individuals/right-to-peaceful-assembly-and-association/
Here are the banners. If you are in Australia, you need to group with as many as possible and show up on Saturday!
https://sonsoflibertyradio.com
https://sonsoflibertymedia.com
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Article posted with permission from Sons of Liberty Media


thewashingtonstandard--2020-09-04--Bill Gates: Those Who Engage In Anti-Vaccine Efforts…They Kill Children! Ever Take The Time To Know

Bill Gates : Those Who Engage In Anti-Vaccine Efforts…They Kill Children !
Ever Take The Time To Know What Is In Vaccines ?
( Videos ) “ So it ’ s an absolute lie that has killed thousands of kids .
Because the mothers who heard that lie , many of them didn ’ t have their kids take either pertussis or measles vaccine , and their children are dead today .
And so the people who go and engage in those anti-vaccine efforts — you know , they , they kill children .
It ’ s a very sad @ @ @ @ @ @ @ ” This , of course , coming from none other than Bill Gates , who is not a doctor nor is he an elected representative .
Bill is the one responsible for calling forth the depopulation of the planet as he is also the one trying to sell you the virus as being legitimate .
He is also the one trying to sell you on the vaccines ( Ephesians 4:14 ) .
Most of us today , know that which is taking place in America today concerning a virus is nothing more than @ @ @ @ @ @ @ Let ’ s go to the next step .
Despite hundreds of thousands of doctors debunking the coronavirus , the government is running roughshod over the people and says to get ready for vaccinations .
This is totalitarianism , a government of force , and nothing short of it ( Leviticus 26:15-18 ) .
What one needs to know is exactly what is in some of the vaccinations and what are the ingredients to them .
Regardless of what is being sold to us concerning another pandemic , if we do not get @ @ @ @ @ @ @ all enemies of the state .
It is time for people to understand that the government has no business whatsoever enforcing any vaccination on anyone anywhere ( Psalm 94:20 ) .
It is time to resist and time to deal with those who are , in fact , guilty of perpetuating these crimes on the people .
In conclusion : Robert Kennedy Jr. stated ” “ Governments love pandemics the same way that they love wars .
It gives them power , it gives them control , it gives them the capacity to @ @ @ @ @ @ @ posted with permission from Sons of Liberty Media .
Article by Bradlee Dean .

Bill Gates: Those Who Engage In Anti-Vaccine Efforts…They Kill Children! Ever Take The Time To Know What Is In Vaccines? (Videos)
“So it’s an absolute lie that has killed thousands of kids. Because the mothers who heard that lie, many of them didn’t have their kids take either pertussis or measles vaccine, and their children are dead today. And so the people who go and engage in those anti-vaccine efforts — you know, they, they kill children. It’s a very sad thing, because these vaccines are important.”
This, of course, coming from none other than Bill Gates, who is not a doctor nor is he an elected representative.
Bill is the one responsible for calling forth the depopulation of the planet as he is also the one trying to sell you the virus as being legitimate. He is also the one trying to sell you on the vaccines (Ephesians 4:14).
Most of us today, know that which is taking place in America today concerning a virus is nothing more than a perpetuated fraud (John 8:44)
Let’s go to the next step.
Despite hundreds of thousands of doctors debunking the coronavirus, the government is running roughshod over the people and says to get ready for vaccinations. This is totalitarianism, a government of force, and nothing short of it (Leviticus 26:15-18).
What one needs to know is exactly what is in some of the vaccinations and what are the ingredients to them.
How Many Babies Are Killed For Your Vaccines? The truth the vaccine industry hides from you. Watch as this woman blows the cover off this bloody industry! #BeInformed #Parentsrights Posted by Elizabeth Johnston on Sunday, September 1, 2019
https://www.facebook.com/paleochefpeteevans/videos/693728214802960
Regardless of what is being sold to us concerning another pandemic, if we do not get behind the government, then we are all enemies of the state. It is time for people to understand that the government has no business whatsoever enforcing any vaccination on anyone anywhere (Psalm 94:20).
It is time to resist and time to deal with those who are, in fact, guilty of perpetuating these crimes on the people.
In conclusion: Robert Kennedy Jr. stated” “Governments love pandemics the same way that they love wars. It gives them power, it gives them control, it gives them the capacity to impose obedience on human beings.”
Article posted with permission from Sons of Liberty Media. Article by Bradlee Dean.


thewashingtonstandard--2020-09-04--Why We Are Facing The Biggest Election Nightmare In Modern American History, No Matter Who Ends Up W

Why We Are Facing The Biggest Election Nightmare In Modern American History , No Matter Who Ends Up Winning It looks like we are headed for the most chaotic presidential election in modern U.S. history .
According to some estimates , somewhere around 40 percent of all U.S. voters will vote by mail this year .
That means that tens of millions of votes will be going through the postal system , and that has the potential to create all sorts of problems .
For one thing , it is going to take a lot of extra time to open @ @ @ @ @ @ @ states that allow mail-in votes to be counted in advance , that shouldn ’ t delay final results by too much , but in other states we are facing the possibility of a nightmare scenario .
There are certain states that are not allowed to start counting any ballots until the polls close on election day , and that includes key swing states such as Wisconsin , Michigan and Pennsylvania… So as we all watch the election results come in on the night of November 3rd , what we will be getting will @ @ @ @ @ @ @ this point , the mainstream media is assuming that the votes that are cast in person will heavily favor President Trump , and so they are warning us that there could be a “ red mirage ” scenario in which it appears that Trump is easily winning an election that he has actually lost .
Of course , if Trump builds a huge lead on election night , he is likely to declare victory , and Facebook has already stated that they intend to “ flag ” any such attempt… This is one @ @ @ @ @ @ @ been strongly against mail-in voting .
Our nation is likely to be thrown into a state of chaos in November because it is going to take so long to count all the votes .
President Trump and his supporters will be absolutely convinced that they have won the election if they have a big lead on election night , and Joe Biden and his supporters will be absolutely convinced that they will be victorious once all of the mail-in votes are finally counted .
And then no matter what the final result is @ @ @ @ @ @ @ be willing to accept it as legitimate .
This is going to be such a disaster , but nobody can do anything about it now .
All we can do is watch this slow-motion train wreck play out .
Biden supporters are already pointing to a recent poll which shows that Biden voters are far more likely to vote by mail than Trump supporters are… If all of the votes were counted and released at one time , this wouldn ’ t be so much of a problem .
But instead most of @ @ @ @ @ @ @ election night will be from in-person voting , and most of the mail-in votes will be counted some time later .
At this point , everyone should be able to see that this is almost certainly not going to end well .
So many Trump voters prefer to vote the old-fashioned way , while many Democrats are very eager to vote by mail , and this has created a huge disparity in ballot requests in some of the most critical swing states .
Just check out these numbers… We are seeing similar numbers @ @ @ @ @ @ @ one of the reasons why Joe Biden will not concede no matter how large Trump ’ s lead on election night is .
This thing could end up dragging out for an extended period of time , and that is extremely unfortunate .
And the truth is that we may never even know the true winner of the 2020 election .
Voting by mail opens up so many opportunities for fraud , and large numbers of ballots never even get delivered to the intended voters in the first place .
As Breitbart has @ @ @ @ @ @ @ that were sent out to registered voters in Nevada for their primary in June came back as “ undeliverable ” … Over the next couple of months , tens of millions of ballots are going to be floating around out there , and many will end up in the hands of people that should not have them .
For example , Hulk Hogan says that one of his friends just received a ballot that was addressed to his dog… How does something like that happen ?
Another thing to watch out for is @ @ @ @ @ @ @ become masters of this practice , and they used it with devastating effectiveness in California in 2018 .
Now they are deploying this tactic all over the nation , and very alarming incidents of abuse are already being reported… In the end , we should all want a legitimate outcome .
The integrity of our elections is of paramount importance , and the will of the American people should be respected .
But I don ’ t think that any of us will ever be able to feel good about the outcome of @ @ @ @ @ @ @ winning .
Needless to say , the losing side is likely to be absolutely enraged over an election that they feel has been stolen from them , and that is likely to make the current chaos in our streets even worse .
At this point , even the Washington Post is warning that this election is likely to end “ catastrophically ” … For once , I actually agree with the Washington Post .
I have a hard time trying to imagine how this election could possibly end well .
Right now , @ @ @ @ @ @ @ Trump will win , and Biden and his supporters are convinced that Biden will win .
One side is going to be bitterly , bitterly disappointed , and they will almost certainly feel like the election was not won legitimately .
There is going to be so much anger , and when it explodes it is going to be very frightening to watch .
This is already such a dark chapter in American history , and this election is going to take things to an entirely new level .
Sadly , I believe @ @ @ @ @ @ @ country will ever be the same again .

Why We Are Facing The Biggest Election Nightmare In Modern American History, No Matter Who Ends Up Winning
It looks like we are headed for the most chaotic presidential election in modern U.S. history. According to some estimates, somewhere around 40 percent of all U.S. voters will vote by mail this year. That means that tens of millions of votes will be going through the postal system, and that has the potential to create all sorts of problems. For one thing, it is going to take a lot of extra time to open those ballots and count them. For states that allow mail-in votes to be counted in advance, that shouldn’t delay final results by too much, but in other states we are facing the possibility of a nightmare scenario. There are certain states that are not allowed to start counting any ballots until the polls close on election day, and that includes key swing states such as Wisconsin, Michigan and Pennsylvania…
In several states not accustomed to high volumes of mail-in voting, including Rust Belt swing states Wisconsin, Michigan and Pennsylvania, election officials cannot start counting ballots until voting ends on election night. Other swing states, such as Minnesota, allow absentee ballots to be postmarked up to Election Day.
So as we all watch the election results come in on the night of November 3rd, what we will be getting will only be partial results.
And at this point, the mainstream media is assuming that the votes that are cast in person will heavily favor President Trump, and so they are warning us that there could be a “red mirage” scenario in which it appears that Trump is easily winning an election that he has actually lost.
Of course, if Trump builds a huge lead on election night, he is likely to declare victory, and Facebook has already stated that they intend to “flag” any such attempt…
Facebook plans to flag any attempt by the Trump campaign to declare a premature victory in the presidential race on the platform, the company announced on Thursday. The social media giant, which has come in for heavy criticism for failing to police foreign and domestic elections propaganda on its network, also said it would not accept any new political ads in the final week of the 2020 presidential race.
This is one of the reasons why I have always been strongly against mail-in voting. Our nation is likely to be thrown into a state of chaos in November because it is going to take so long to count all the votes. President Trump and his supporters will be absolutely convinced that they have won the election if they have a big lead on election night, and Joe Biden and his supporters will be absolutely convinced that they will be victorious once all of the mail-in votes are finally counted. And then no matter what the final result is, about half the country will not be willing to accept it as legitimate.
This is going to be such a disaster, but nobody can do anything about it now. All we can do is watch this slow-motion train wreck play out.
Biden supporters are already pointing to a recent poll which shows that Biden voters are far more likely to vote by mail than Trump supporters are…
Forty-seven percent of voters who plan to vote for Biden say they are likely to vote by mail, according to a USA TODAY/Suffolk University poll released Wednesday. That’s more than double the 21% of voters backing Trump who say they are likely to vote by mail. The poll found 56% of Republicans say they intend to vote on Election Day, compared with 26% of Democrats.
If all of the votes were counted and released at one time, this wouldn’t be so much of a problem.
But instead most of the results that we will get on election night will be from in-person voting, and most of the mail-in votes will be counted some time later.
At this point, everyone should be able to see that this is almost certainly not going to end well.
So many Trump voters prefer to vote the old-fashioned way, while many Democrats are very eager to vote by mail, and this has created a huge disparity in ballot requests in some of the most critical swing states. Just check out these numbers…
In Pennsylvania – a state Trump won in 2016 but where polling shows him behind – nearly 900,000 Democrats have requested a mail ballot for the election, more than twice the 347,000 Republicans who have done so. In North Carolina, another state Trump won in 2016 but where he and Biden are in a close race, nearly 313,000 Democrats requested mail ballots compared with nearly 93,000 Republicans.
We are seeing similar numbers in other states, and this is one of the reasons why Joe Biden will not concede no matter how large Trump’s lead on election night is.
This thing could end up dragging out for an extended period of time, and that is extremely unfortunate.
And the truth is that we may never even know the true winner of the 2020 election. Voting by mail opens up so many opportunities for fraud, and large numbers of ballots never even get delivered to the intended voters in the first place. As Breitbart has reported, 17 percent of the ballots that were sent out to registered voters in Nevada for their primary in June came back as “undeliverable”…
Last month, the Trump campaign filed suit against Nevada for their universal mail-in voting plans that would allow votes submitted after election day to count for the election. More than 223,000 mail-in ballots sent to registered voters in Las Vegas, Nevada, for their June primary bounced as “undeliverable” — 17 percent of the total 1,325,934 mail-in ballots that were sent out in the county.
Over the next couple of months, tens of millions of ballots are going to be floating around out there, and many will end up in the hands of people that should not have them. For example, Hulk Hogan says that one of his friends just received a ballot that was addressed to his dog…
Crazy stuff, a friend of mine just got a mail in ballot for his dog Nugget? Now even dogs can vote!
How does something like that happen?
Another thing to watch out for is “ballot harvesting”. Democrats have become masters of this practice, and they used it with devastating effectiveness in California in 2018. Now they are deploying this tactic all over the nation, and very alarming incidents of abuse are already being reported…
Furthermore, a citizen journalist reported that Democrats were harvesting mail-in ballots from nursing homes in Texas by fraudulently submitting ballot applications in bulk. The journalist said that at least 32 applications supposedly from elderly voters were all submitted with the exact same handwriting, and were all submitted using the same pre-printed envelope with the same-style stamp.
In the end, we should all want a legitimate outcome. The integrity of our elections is of paramount importance, and the will of the American people should be respected.
But I don’t think that any of us will ever be able to feel good about the outcome of this election no matter who ends up winning.
Needless to say, the losing side is likely to be absolutely enraged over an election that they feel has been stolen from them, and that is likely to make the current chaos in our streets even worse.
At this point, even the Washington Post is warning that this election is likely to end “catastrophically”…
Perspective: The election will likely spark violence — and a constitutional crisis. In every scenario except a Biden landslide, our simulation ended catastrophically.
For once, I actually agree with the Washington Post.
I have a hard time trying to imagine how this election could possibly end well.
Right now, Trump and his supporters are convinced that Trump will win, and Biden and his supporters are convinced that Biden will win.
One side is going to be bitterly, bitterly disappointed, and they will almost certainly feel like the election was not won legitimately.
There is going to be so much anger, and when it explodes it is going to be very frightening to watch.
This is already such a dark chapter in American history, and this election is going to take things to an entirely new level.
Sadly, I believe that after November 2020 nothing in this country will ever be the same again.
Article posted with permission from Michael Snyder


thewashingtonstandard--2020-09-04--Signs Of Trouble As We Head Into Fall?

Signs Of Trouble As We Head Into Fall?

Over the past several months we have been witnessing one of the most gloriously irrational stock market rallies in U.S. history .
Even CNN is admitting that this is “ the worst economic crisis of our lifetimes ” , but stock prices have just kept going higher and higher until this week .
Several months ago the Federal Reserve decided to do whatever it took to rescue the financial markets , and their exceedingly reckless behavior fueled a speculative boom that is unlike anything that we have ever seen before .
But now it appears that the boom may be @ @ @ @ @ @ @ was down 807 points on Thursday , and it appears that Friday could be another very challenging day for Wall Street .
It is well documented that many of the greatest stock market crashes in history have happened in the fall , and many investors may be trying to bail out before this latest bubble bursts in spectacular fashion .
Tech stocks have led the way up during this latest rally , and now they could potentially start leading the market back in the other direction .
On Thursday , the biggest names @ @ @ @ @ @ @ hard… And Tesla has been absolutely monkey-hammered over the past several days .
If you can believe it , the stock is now 18 percent lower than it was on Monday… But I wouldn ’ t be crying too much for those holding Tesla stock just yet .
The stock is still way , way up so far in 2020 , and it is still massively overvalued .
In fact , if Tesla ’ s stock price fell 90 percent I would still think that it was overvalued .
Needless to say , @ @ @ @ @ @ @ this point .
It is absolutely absurd that the Dow is sitting above 28,000 at the moment .
Investors decided to divorce economic reality long ago , and even with the losses that we have seen this week they are still sitting really pretty .
But could that soon change ?
According to one expert that was just interviewed by CNBC , the market could be heading into a “ Minsky moment ” … So exactly what is a “ Minsky moment ” ?
The following is how CNBC defines it… I think @ @ @ @ @ @ @ what we are facing .
Since the second half of March , the Dow , the S & P 500 and the Nasdaq are all up more than 50 percent even though the U.S. economy as a whole has been falling apart all around us .
If we were ever due for a “ Minsky moment ” , it is now .
And it is interesting to note that the stock market also peaked in early September in 1929 .
The following quote from Sven Henrich was just posted by Zero Hedge… It @ @ @ @ @ @ @ t always repeat , but it often rhymes .
Meanwhile , we just learned that a huge number of Americans filed for unemployment benefits once again last week .
As I discussed a week ago , the Labor Department decided to change the way that it calculates seasonal adjustments for initial unemployment claims , and this week was going to be the first week when that change was going to show up .
So it wasn ’ t a surprise that the “ official number ” was lower than last week , but @ @ @ @ @ @ @ the story is completely different .
In fact , those figures tell us that the number of Americans filing new claims for unemployment benefits was about 7,000 higher than the week before .
That is very troubling because if we were going to have any sort of an “ economic recovery ” before the next wave of economic pain , it should be happening now .
And according to Wolf Richter , the number of continuing unemployment claims under all state and federal programs was way up over the previous week… In our @ @ @ @ @ @ @ a spike in unemployment claims like we have in 2020 .
But up until now , investors on Wall Street have been able to ignore what has been going on in the rest of the country .
In some ways , it is easy to be in awe of their single-minded focus on speculative greed , and the mainstream media has been proudly touting how much richer some of the wealthiest investors have been getting .
Of course , the truth is that you only make money in the stock market if you @ @ @ @ @ @ @ up forever , and this ridiculously absurd bubble will end the same way that so many others have .
Meanwhile , the real economy will continue to deteriorate as we plunge even deeper into the “ perfect storm ” that we are now dealing with .
In addition to everything else , a hotly contested presidential election is looming , and the fact that we are not likely to have a winner until some time well after November 3rd is just going to make matters even worse .
We truly live in historic @ @ @ @ @ @ @ that they are about to get a whole lot more “ interesting ” .

Over the past several months we have been witnessing one of the most gloriously irrational stock market rallies in U.S. history. Even CNN is admitting that this is “the worst economic crisis of our lifetimes”, but stock prices have just kept going higher and higher until this week. Several months ago the Federal Reserve decided to do whatever it took to rescue the financial markets, and their exceedingly reckless behavior fueled a speculative boom that is unlike anything that we have ever seen before. But now it appears that the boom may be ending. The Dow Jones Industrial Average was down 807 points on Thursday, and it appears that Friday could be another very challenging day for Wall Street. It is well documented that many of the greatest stock market crashes in history have happened in the fall, and many investors may be trying to bail out before this latest bubble bursts in spectacular fashion.
Tech stocks have led the way up during this latest rally, and now they could potentially start leading the market back in the other direction. On Thursday, the biggest names in the tech world got hit particularly hard…
Apple shares fell 8% for their biggest one-day decline since March 16. Amazon and Netflix were both down more than 4% and Facebook slid 3.8%. Microsoft slipped 6.2%. Alphabet pulled back by 5.1%.
And Tesla has been absolutely monkey-hammered over the past several days. If you can believe it, the stock is now 18 percent lower than it was on Monday…
Tesla shares slid 9% on Thursday, building on the stock’s recent losses after the company’s largest outside shareholder reduced its position, and after the automaker said it would raise up to $5 billion in a new share offering. With Thursday’s decline, the stock is more than 18% below Monday’s close, a day when the name surged following its stock split.
But I wouldn’t be crying too much for those holding Tesla stock just yet. The stock is still way, way up so far in 2020, and it is still massively overvalued.
In fact, if Tesla’s stock price fell 90 percent I would still think that it was overvalued.
Needless to say, the entire market is tremendously overvalued at this point. It is absolutely absurd that the Dow is sitting above 28,000 at the moment. Investors decided to divorce economic reality long ago, and even with the losses that we have seen this week they are still sitting really pretty.
But could that soon change?
According to one expert that was just interviewed by CNBC, the market could be heading into a “Minsky moment”…
Asset prices could be on the cusp of a sharp collapse known as a “Minsky moment,” and may retest lows last seen in March, according to Ron William, market strategist and founder of RW Advisory.
So exactly what is a “Minsky moment”?
The following is how CNBC defines it…
A “Minsky moment,” named after economist Hyman Minsky, refers to a sudden market collapse following an unsustainable bull run, which in this case could be fueled by the “easy credit” environment created as a result of unprecedented fiscal and monetary stimulus measures.
I think that may be a perfect description of what we are facing. Since the second half of March, the Dow, the S&P 500 and the Nasdaq are all up more than 50 percent even though the U.S. economy as a whole has been falling apart all around us.
If we were ever due for a “Minsky moment”, it is now.
And it is interesting to note that the stock market also peaked in early September in 1929. The following quote from Sven Henrich was just posted by Zero Hedge…
“September 3rd marked the top in 1929 following a furious rally fueled by wild optimism, excessive retail speculative behavior and markets disconnecting far above the fundamentals of the economy.”
It has been said that history doesn’t always repeat, but it often rhymes.
Meanwhile, we just learned that a huge number of Americans filed for unemployment benefits once again last week.
As I discussed a week ago, the Labor Department decided to change the way that it calculates seasonal adjustments for initial unemployment claims, and this week was going to be the first week when that change was going to show up. So it wasn’t a surprise that the “official number” was lower than last week, but when you look at the unadjusted numbers the story is completely different.
In fact, those figures tell us that the number of Americans filing new claims for unemployment benefits was about 7,000 higher than the week before.
That is very troubling because if we were going to have any sort of an “economic recovery” before the next wave of economic pain, it should be happening now.
And according to Wolf Richter, the number of continuing unemployment claims under all state and federal programs was way up over the previous week…
Powered by a nasty jump in continued unemployment claims under the federal Pandemic Unemployment Assistance (PUA) program for contract workers, established under the CARES Act, total continued claims under all state and federal programs jumped by 2.2 million, “not seasonally adjusted,” to 29.2 million people on unemployment rolls, the highest since August 1, according to the Department of Labor this morning.
In our entire history, we have never seen a spike in unemployment claims like we have in 2020.
But up until now, investors on Wall Street have been able to ignore what has been going on in the rest of the country.
In some ways, it is easy to be in awe of their single-minded focus on speculative greed, and the mainstream media has been proudly touting how much richer some of the wealthiest investors have been getting.
Of course, the truth is that you only make money in the stock market if you get out in time. Nothing goes up forever, and this ridiculously absurd bubble will end the same way that so many others have.
Meanwhile, the real economy will continue to deteriorate as we plunge even deeper into the “perfect storm” that we are now dealing with.
In addition to everything else, a hotly contested presidential election is looming, and the fact that we are not likely to have a winner until some time well after November 3rd is just going to make matters even worse.
We truly live in historic times, and I have a feeling that they are about to get a whole lot more “interesting”.
Article posted with permission from Michael Snyder