investmentwatchblog--2020-06-29--Cities Beg Businesses Not To Leave – Idiot Mayors Blew It Big Time

That is what officials in cities that have been devastated by rioters , looters and arsonists are saying to businesses whose investments in those cities have gone up in smoke .
Steve touched on this earlier , but I want to amplify the point .
The following are just three examples of many that we will see in the coming weeks .
From Chicago : Mayor Lightfoot Pleads With Walmart , Other Retailers To Not Abandon Chicago .
Mayor Lightfoot said she ’ s hopeful major retailers will reopen the Chicago stores that were looted or otherwise damaged during protests @ @ @ @ @ @ @ police in Minnesota .
But , she ’ s unsure of one of the biggest .
Mayor Lightfoot said she was on a conference call with Walmart and other major retailers that had stores looted or heavily damaged during the unrest in Chicago .
She said she pleaded with them to not abandon Chicago .
Why , exactly , would major retailers choose to rebuild and re-open stores that were burned to the ground or otherwise destroyed by rioters ?
What is there in the current response to riots by big city politicians @ @ @ @ @ @ @ thing won ’ t happen again ?
If you owned a store in an area that was destroyed by rioters , would you invest more money in the same location ?
Why ?
Here is another instance , Louisville , as reported in Salon : “ As groceries board up amid protests , food inequality worsens for communities of color.
” This Kroger , which is located in Russell , one of Louisville ’ s historically Black neighborhoods , is one of the only grocery stores accessible to residents in the city ’ @ @ @ @ @ @ @ boarded up Monday in anticipation of protests and potential looting .
By early Tuesday , a video began circulating of multiple people running through a side door , pushing carts of items .
The Courier Journal reported rounds of gunfire can be heard in the background .
The nearby Chase ATM was broken into , as well , as the video shows a group pulling money from the damaged machine .
Obviously a great place to be doing business .
“ We ’ ve heard rumors for years that that Kroger was going @ @ @ @ @ @ @ .
“ And there are only two major supermarkets that serve 60,000 residents , and that is one of the stores .
So if that Kroger closes , West Louisville will have one supermarket and mostly dollar stores.
” Store closures due to looting and protests across the country have sparked similar realizations .
Seattle CHOP is empty right now .
Why aren ’ t the cops taking it back right now ?
Live video They could just walk in as the bums are all sleeping and dying of COVID .
Why are @ @ @ @ @ @ @ show up ?
Hhhmmmmm .
Dems ?
Care to explain ?
“ This is Not Seattle – We ’ re Not Putting Up with This Lawlessness Here ” – Oklahoma DA Charges Protesters with Terrorism , Rioting and Assault Several Black Lives Matter protesters were arrested and charged with terrorism , rioting and assault following the violent protests in Oklahoma City following the death of George Floyd .
Oklahoma County District Attorney David Prater told the rioters , “ This is not Seattle .
We ’ re not putting up with this lawlessness @ @ @ @ @ @ @ the rioters attacking a police station and hurling objects at police officers .

Please Don’t Go!
That is what officials in cities that have been devastated by rioters, looters and arsonists are saying to businesses whose investments in those cities have gone up in smoke. Steve touched on this earlier, but I want to amplify the point. The following are just three examples of many that we will see in the coming weeks.
From Chicago: Mayor Lightfoot Pleads With Walmart, Other Retailers To Not Abandon Chicago.
Mayor Lightfoot said she’s hopeful major retailers will reopen the Chicago stores that were looted or otherwise damaged during protests surrounding George Floyd’s killing by police in Minnesota. But, she’s unsure of one of the biggest. Mayor Lightfoot said she was on a conference call with Walmart and other major retailers that had stores looted or heavily damaged during the unrest in Chicago. She said she pleaded with them to not abandon Chicago.
Why, exactly, would major retailers choose to rebuild and re-open stores that were burned to the ground or otherwise destroyed by rioters? What is there in the current response to riots by big city politicians that provides any assurance that the same thing won’t happen again? If you owned a store in an area that was destroyed by rioters, would you invest more money in the same location? Why?
Here is another instance, Louisville, as reported in Salon: “As groceries board up amid protests, food inequality worsens for communities of color.”
This Kroger, which is located in Russell, one of Louisville’s historically Black neighborhoods, is one of the only grocery stores accessible to residents in the city’s West End. It had been boarded up Monday in anticipation of protests and potential looting. By early Tuesday, a video began circulating of multiple people running through a side door, pushing carts of items. The Courier Journal reported rounds of gunfire can be heard in the background. The nearby Chase ATM was broken into, as well, as the video shows a group pulling money from the damaged machine.
Obviously a great place to be doing business.
“We’ve heard rumors for years that that Kroger was going to close permanently,” Herron said. “And there are only two major supermarkets that serve 60,000 residents, and that is one of the stores. So if that Kroger closes, West Louisville will have one supermarket and mostly dollar stores.” Store closures due to looting and protests across the country have sparked similar realizations.
www.powerlineblog.com/archives/2020/06/please-dont-go.php
Seattle CHOP is empty right now. Why aren’t the cops taking it back right now? Live video
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They could just walk in as the bums are all sleeping and dying of COVID.
Why are they waiting for “protestors” to show up?
Hhhmmmmm. Dems? Care to explain?
“This is Not Seattle – We’re Not Putting Up with This Lawlessness Here” – Oklahoma DA Charges Protesters with Terrorism, Rioting and Assault
Several Black Lives Matter protesters were arrested and charged with terrorism, rioting and assault following the violent protests in Oklahoma City following the death of George Floyd.
Oklahoma County District Attorney David Prater told the rioters, “This is not Seattle. We’re not putting up with this lawlessness here.”
This video from KOCO shows the rioters attacking a police station and hurling objects at police officers.
www.thegatewaypundit.com/2020/06/not-seattle-not-putting-lawlessness-oklahoma-judge-charges-protesters-terrorism-rioting-assault/
h/t AggregateThreat


investmentwatchblog--2020-06-29--Coronavirus tests were delayed by contamination at CDC lab

The Post reported that CDC facilities that assembled the testing kits “ violated sound manufacturing practices , resulting in contamination @ @ @ @ @ test components used in the highly sensitive detection process.
” “ CDC made its test @ @ @ @ @ , rather than in its manufacturing facilities.
” “ CDC did not manufacture its test @ @ @ @ @ , Interesting scam .
It appears the CDC test is contaminated with Covid .
Indian @ @ @ @ @ stop using coronavirus testing kits imported from China after a scientific investigation concluded they were @ @ @ @ @ virus pandemics based on PCR tests can end in disaster was described by Gina Kolata @ @ @ @ @ Times article Faith in Quick Test Leads to Epidemic That Wasn ’ t .
Kary @ @ @ @ @ of the Polymerase Chain Reaction ( PCR ) technology , did not think alike .
@ @ @ @ @ Nobel prize in chemistry in 1993 .
Unfortunately , Mullis passed away last year at @ @ @ @ @ but there is no doubt that the biochemist regarded the PCR as

www.cnbc.com/2020/04/18/coronavirus-tests-delayed-by-covid-19-contamination-at-cdc-lab.html
The Post reported that CDC facilities that assembled the testing kits “violated sound manufacturing practices, resulting in contamination of one of the three test components used in the highly sensitive detection process.”
www.washingtonpost.com/
“CDC made its test in one of its laboratories, rather than in its manufacturing facilities.”
“CDC did not manufacture its test consistent with its own protocol,
…………………………………..
Interesting scam. It appears the CDC test is contaminated with Covid.
www.breitbart.com/national-security/2020/05/04/tanzania-president-says-faulty-imported-test-kit-claimed-goat-coronavirus/
We are primarily funded by readers. Please subscribe and donate to support us!
Tanzania: President Says Faulty ‘Imported’ Test Kit Claimed Goat Had Coronavirus
and
Indian health authorities told states to stop using coronavirus testing kits imported from China after a scientific investigation concluded they were wildly inaccurate.
How declaring virus pandemics based on PCR tests can end in disaster was described by Gina Kolata in her 2007 New York Times article Faith in Quick Test Leads to Epidemic That Wasn’t.
off-guardian.org/2020/06/27/covid19-pcr-tests-are-scientifically-meaningless/
Kary Mullis himself, the inventor of the Polymerase Chain Reaction (PCR) technology, did not think alike. His invention got him the Nobel prize in chemistry in 1993.
Unfortunately, Mullis passed away last year at the age of 74, but there is no doubt that the biochemist regarded the PCR as inappropriate to detect a viral infection.
Yea, right. What they are mfg'ing the test kits in the same area that they test them?
The test kits contamination we're deliberate to spread the virus. — CitizenQ (@real_fed_up) June 28, 2020
Why the 'surge' in those getting tested, esp. if no symptoms/exposure? & in many cases, a 'positive' has to wait a week to retest for a possible 'false positive'. Meanwhile, they can't go to work & their employer shuts down again. If 2nd test is positive, it's counted AGAIN — ⭐Country⭐Girl⭐ (@GAFLCountryGirl) June 28, 2020
Wake up America🇺🇸🇺🇸🇺🇸🇺🇸This is where these numbers are coming from😡 pic.twitter.com/RVfiXERuRT — debra⭐⭐⭐ (@debra_bonanno) June 28, 2020
According to a new scathing report that has came out in The New York Times, over 43% of ALL Coronavirus deaths are from nursing homes. That's almost 50% America. — Matt Couch 🎙 (@RealMattCouch) June 28, 2020
h/t Ann Harper


investmentwatchblog--2020-06-28--Mark Skidmore – It’s Not Just Bad Accounting. Is US Debt Really $90 Trillion?

Michigan State Economics Professor Mark Skidmore ’ s latest update to the “ Missing Money ” question is now the biggest in history by a long way .
Skidmore ’ s research reveals the US Treasury market is rolling over $ 90 trillion to support the official debt of $ 22 trillion ( 2019 . )
That ’ s on top of the $ 21 trillion Skidmore revealed in so-called “ Missing Money ” in late 2017 .
Why do you need to churn $ 90 trillion in debt ?
Is the US debt really $ 90 trillion ?
What @ @ @ @ @ @ @ debt ?
Skidmore says , “ Yes it is concerning to me because this could blow up .
We don ’ t know when or how , but if people lose confidence in our government , they could lose confidence in the currency .
That could have severe impacts on lots of people in the whole global economy above and beyond what we are experiencing now .
.
.
.
Is there some reset in play ?
Is there some bigger issue at stake ?
Is this pulling away with other goals in @ @ @ @ @ @ @ .
I don ’ t know how this all fits together but I do know there is something else going on that we all need to pay attention to .
.
.
.
I have documents that say something is really , really wrong , and it ’ s not just bad accounting .
”

Michigan State Economics Professor Mark Skidmore’s latest update to the “Missing Money” question is now the biggest in history by a long way. Skidmore’s research reveals the US Treasury market is rolling over $90 trillion to support the official debt of $22 trillion (2019.) That’s on top of the $21 trillion Skidmore revealed in so-called “Missing Money” in late 2017. Why do you need to churn $90 trillion in debt? Is the US debt really $90 trillion? What could go wrong with this much hidden debt? Skidmore says, “Yes it is concerning to me because this could blow up. We don’t know when or how, but if people lose confidence in our government, they could lose confidence in the currency. That could have severe impacts on lots of people in the whole global economy above and beyond what we are experiencing now. . . . Is there some reset in play? Is there some bigger issue at stake? Is this pulling away with other goals in mind? Yes, I think so. I don’t know how this all fits together but I do know there is something else going on that we all need to pay attention to. . . . I have documents that say something is really, really wrong, and it’s not just bad accounting.”
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investmentwatchblog--2020-06-28--Thousands of Chase Bank customers in US reporting money missing from their bank accounts, some missi

Thousands of Chase Bank customers in US reporting money missing from their bank accounts, some missing thousands dollars

hope for them its a glitch …

BREAKING – Thousands of #ChaseBank customers across the US reporting that money is missing from their bank accounts. This is a developing story. #Chase #Fraud #Hack — Disclose.tv 🚨 (@disclosetv) June 28, 2020
twitter.com/search?q=chasebank&src=recent_search_click&f=live
OK so it could have been a lot worse. Luckily I'm only short $10.95. Monday morning I'm pulling all my money out of that bank and closing it. #chasebank — OVI (@OvidiusPrime) June 28, 2020
#chasebank Missing $1,000 from my bank account, the app "can't connect with Chase," and online banking isn't even showing transactions from days ago. WHAT ARE YOU DOING ABOUT IT?? — Steven M. Kosciusko (@stevewkoz) June 28, 2020
I’m missing over 2000 — Amber Spurlock (@Amber_Neshay247) June 28, 2020
Same with me, I am missing over $1300 and I have a double charge now that just showed up in the last couple minutes from a week ago. I’m so crossing my fingers that this is a glitch! — Courtney Barnett (@courtneyassbish) June 28, 2020
hope for them its a glitch …
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For @Chase @ChaseSupport to stay so silent while they’re hundreds of ppl missing over THOUSANDS of dollars out of their accounts with no transaction history and no customer service addressing the issue is unacceptable! #ChaseBank — ChaseBetterHaveMyMoney (@youlovemrsheart) June 28, 2020
Be careful with logging into #chasebank it might be a DNS hack. Just make sure your going to the legit website. I have seen a bunch of posts but no major news outlets talking about this. Not 100% sure if its true but just be aware of what your logging into. — Brandon (Tetyo) ☕👾🖤 (@Tetio_Dev) June 28, 2020
My available balance is incorrect and transactions are unavailable on the mobile app #chasebank — HalfwayThru2020🗽 (@FReturnz) June 28, 2020
#chasebank just took over $1,000 away from my checking acct!! Thankfully I still have all my money that I saved in my savings bc if not I’d really be losing my mother fucking shit!!!!!!! @Chase WHERE IS MY MONEY???????? — 🦋Jaylene Amy Diaz🦋 (@PrvncessJaylene) June 28, 2020
Scrolling through #chasebank I’ve seen a couple people have money added to their account but my entire balance is gone 😭 — Emily (@emnbeach) June 28, 2020
Whatever is happening with #ChaseBank, I literally caught it in the midst of it happening and have timestamped proof money went missing. Literally checked my account multiple times and caught the money taken out. — danielle. (@eeameinad) June 28, 2020
Awoke this morning to learn we are missing thousands of dollars at #chasebank. — JEWEL OF THE ROCK (@JoyaLaRock_S) June 28, 2020
I was seeing that chase bank was trending & some people got there money taken away so I checked my account & im one of those people wtffff 🤬🤬🤬 — Desss💞 (@garciaadestiny) June 28, 2020
#chasebank MY MONEY BEEN MISSING FOR OVER 6 HOURS!!!!!!!!!!!!! IM ABOUT TO LOSE MY MIND😡😡😡😡😡😡!!!!!! — Gabriela Brown (@gabbie1701) June 28, 2020
@Chase all my money from my account is gone my savings is wiped out and my debit card is cleaned. 😌 I expect my money to be returned before the next business day before closing my account before the 4th of July. #ChaseBank @ChaseSupport I ain’t mad yet. 😌😌 — Kaimeyo (@kaimeyo) June 28, 2020
You better fix your mess ASAP I got screenshots of my last transactions I know exactly how much money I’m missing @Chase #chasebank — LJ ⁷ (@shironeki8) June 28, 2020
#chasebank just stole 1500 from my account, time to switch banks. Imagine if I had barely enough money to cover my bills. This is horrible. Get your shit together. — I'd rather die on my feet, than live on my knees. (@2witer_) June 28, 2020
disinformation campaigns & has a long history of taking huge entities without ever firing a rifle or launching a nuke? I think this is a Novel sustained DDS attack confuse=panic=a Run on Banks=Market Volatility. The run has already askedstarted. If I'm wrong, call me out. — Ace (@Ace_in_Tx) June 28, 2020
h/t Dangerous Times


investmentwatchblog--2020-06-28--From United To Separated Through Hate, From “Can Never Happen There” To Happening There

by Selco via The Organic Prepper Balkanization is a term many times used in describing situations happening very far from the Balkans .
People who use it are explaining the complex development of the situation , that usually leads to a worse situation .
I have used that term in explaining what might come and happen there years ago .
Usually , the response was , “ Oh , it can not happen here because ( whatever reason ) .
” It is very hard to force folks to change their opinions based on articles they might read .
I @ @ @ @ @ @ @ that have happened in the last period of time probably has changed a lot of opinions .
Actually , a lot of the things that I wrote about years ago happened there in the United States later .
A lot of things that “ can never happen there ” are happening “ there ” .
Balkanization is a misused term , so people use it sometimes in a way that you might conclude exactly the same things may soon happen in the US .
I do not believe that total Balkanization is possible @ @ @ @ @ @ @ But there are a lot of similar things that you might see .
And similar is bad enough .
So I ’ ll write about what happened here , years ago , and you alone can spot the similarities for yourself .
It is my view on it , and it may be different from the official history .
But remember , this is coming from someone who saw it with his own eyes , who lived through it .
From united to separated through hate For decades they built one society through @ @ @ @ @ @ @ actually pushed that different nationalities are all the same , and all one nation .
Suddenly everything collapsed into bloody civil wars .
The Socialistic society tried to invent something not completely new .
There were attempts like that before , to make “ one nation between South Slavs ” in order to be stronger and better in any way .
It is a very personal feeling and opinion , so it depends on who you ask .
But yes , there was a very strong feeling of unity , power , and @ @ @ @ @ @ @ the sun , maybe even better than others .
We made something powerful from different pieces , histories , wishes , and whatever .
It was unique and powerful , where every man felt that his society was best and invincible to outer invaders .
At the end , it felt apart .
It was rotten from the inside , with a lot of help from the outside .
Our history of hate , centuries of hate and wars between us was brought back through the feelings of “ democracy ” and “ @ @ @ @ @ @ @ to know the truth , the right to know what really happened through history .
Thousands of historic monuments were brought down at the beginning of that process .
New movements were marching , protesting , demanding lots of different things .
Strange new saviors emerged , each one for his own option ( nationality in this case ) .
Through the “ revising ” of history , hate emerged .
Sometimes the revision of history was the truth .
In other cases , years later , we found out that it was @ @ @ @ @ @ @ it worked only one way – to fuel new hatred and divisions , or to refuel old ones .
History was actually used ( real and fake one ) to bring divisions between people gradually at higher and higher levels .
History that was supposed to be just that – history – was used to bring more hate .
By blaming mistakes from history on the people in the present time we opened a Pandora ’ s box .
All that came out was chaos .
Of course , there were “ other @ @ @ @ @ @ @ .
Other outside factors , parties , people , or groups of people , or even countries who used all that heated emotional atmosphere to push their own agendas .
Sometimes that agenda was simply a big corporation that saw opportunities to earn money from chaos .
In other cases , common folks rose to the opportunity to become rich and powerful .
Mayhem is the perfect opportunity for certain kinds of people to become “ kings ” , usually over piles of dead bodies .
There were regional or even world players @ @ @ @ @ @ @ a couple of years , or even in decades , that they may have use of the whole situation .
So they simply used it , of course , always in a way that they fueled it more and more .
For common folks , I can say that most of us simply lost .
Riots , hopes , big words , wars , fights for freedoms , and human rights .
People were starving in the name of whatever cause – and in the end it turned from having something to having @ @ @ @ @ @ @ part of something to the feeling of being part of nothing .
Now when I look back , I can say for sure that it could not have happened without “ help ” from the media .
Bombardment of information , misinformation , rumors , and everything else from the media – they did a “ great ” job .
Having the internet today , and all these sources of news and information , at first look may give you peace of mind because you can always expect to look for independent news @ @ @ @ @ @ @ way because there are more choices .
From the other side , thanks to the internet , information spreads faster , just like misinformation and fake news .
People are more “ addicted ” to the news flow , so because of that , some development of things may be faster .
In other words , things happen faster today , so people react faster .
This can be bad , too .
As I said , this view of the term “ Balkanization ” is my own .
It is personal .
@ @ @ @ @ @ @ it whatever you think makes sense .
In any case , just think about it .
Selco survived the Balkan war of the 90s in a city under siege , without electricity , running water , or food distribution .
In his online works , he gives an inside view of the reality of survival under the harshest conditions .
He reviews what works and what doesn ’ t , tells you the hard lessons he learned , and shares how he prepares today .
He never stopped learning about survival and preparedness @ @ @ @ @ @ @ happens , chances are you will never experience extreme situations as Selco did .
But you have the chance to learn from him and how he faced death for months .
• Read more of Selco ’ s articles here .
• Buy his best-selling paperbacks , SHTF Survival Stories and The Dark Secrets of Survival here .
• Take advantage of a deep and profound insight into his knowledge by signing up for his online courses SHTF Survival Boot Camp and learn the inside story of what it was really like when @ @ @ @ @ @ @ Year in Hell .
• You can donate directly to Selco at www.paypal.me/SHTFschool ( use the dropdown arrow to select USD as the currency ) Real survival is not romantic or idealistic .
It is brutal , hard and unfair .
Let Selco take you into that world .

by Selco via The Organic Prepper
Balkanization is a term many times used in describing situations happening very far from the Balkans.
People who use it are explaining the complex development of the situation, that usually leads to a worse situation. I have used that term in explaining what might come and happen there years ago. Usually, the response was, “Oh, it can not happen here because (whatever reason).”
It is very hard to force folks to change their opinions based on articles they might read. I felt that many times. But events that have happened in the last period of time probably has changed a lot of opinions.
Actually, a lot of the things that I wrote about years ago happened there in the United States later. A lot of things that “can never happen there” are happening “there”.
What is Balkanization?
Balkanization is a misused term, so people use it sometimes in a way that you might conclude exactly the same things may soon happen in the US. I do not believe that total Balkanization is possible there, because of many reasons. But there are a lot of similar things that you might see.
And similar is bad enough.
So I’ll write about what happened here, years ago, and you alone can spot the similarities for yourself. It is my view on it, and it may be different from the official history. But remember, this is coming from someone who saw it with his own eyes, who lived through it.
From united to separated through hate
For decades they built one society through the Socialistic system, where it was actually pushed that different nationalities are all the same, and all one nation. Suddenly everything collapsed into bloody civil wars.
The Socialistic society tried to invent something not completely new. There were attempts like that before, to make “one nation between South Slavs” in order to be stronger and better in any way.
It is a very personal feeling and opinion, so it depends on who you ask. But yes, there was a very strong feeling of unity, power, and the idea that we were unique under the sun, maybe even better than others. We made something powerful from different pieces, histories, wishes, and whatever. It was unique and powerful, where every man felt that his society was best and invincible to outer invaders.
At the end, it felt apart. It was rotten from the inside, with a lot of help from the outside.
Our history of hate, centuries of hate and wars between us was brought back through the feelings of “democracy” and “human rights.” We had the right to know the truth, the right to know what really happened through history.
Thousands of historic monuments were brought down at the beginning of that process. New movements were marching, protesting, demanding lots of different things. Strange new saviors emerged, each one for his own option (nationality in this case).
Through the “revising” of history, hate emerged.
Sometimes the revision of history was the truth. In other cases, years later, we found out that it was fake. But in both cases, it worked only one way – to fuel new hatred and divisions, or to refuel old ones.
History was actually used (real and fake one) to bring divisions between people gradually at higher and higher levels.
History that was supposed to be just that – history – was used to bring more hate.
We are primarily funded by readers. Please subscribe and donate to support us!
By blaming mistakes from history on the people in the present time we opened a Pandora’s box. All that came out was chaos.
Other factors
Of course, there were “other factors.” There are always other factors.
Other outside factors, parties, people, or groups of people, or even countries who used all that heated emotional atmosphere to push their own agendas. Sometimes that agenda was simply a big corporation that saw opportunities to earn money from chaos. In other cases, common folks rose to the opportunity to become rich and powerful.
Mayhem is the perfect opportunity for certain kinds of people to become “kings”, usually over piles of dead bodies.
There were regional or even world players, who saw the opportunity that in a couple of years, or even in decades, that they may have use of the whole situation. So they simply used it, of course, always in a way that they fueled it more and more.
For common folks, I can say that most of us simply lost.
Riots, hopes, big words, wars, fights for freedoms, and human rights. People were starving in the name of whatever cause – and in the end it turned from having something to having nothing, from the feeling of being part of something to the feeling of being part of nothing.
The media
Now when I look back, I can say for sure that it could not have happened without “help” from the media.
Bombardment of information, misinformation, rumors, and everything else from the media – they did a “great” job.
Having the internet today, and all these sources of news and information, at first look may give you peace of mind because you can always expect to look for independent news sources, which is true in a way because there are more choices.
From the other side, thanks to the internet, information spreads faster, just like misinformation and fake news. People are more “addicted” to the news flow, so because of that, some development of things may be faster.
In other words, things happen faster today, so people react faster. This can be bad, too.
As I said, this view of the term “Balkanization” is my own. It is personal.
You think about it and take from it whatever you think makes sense.
In any case, just think about it.
About Selco:
Selco survived the Balkan war of the 90s in a city under siege, without electricity, running water, or food distribution.
In his online works, he gives an inside view of the reality of survival under the harshest conditions. He reviews what works and what doesn’t, tells you the hard lessons he learned, and shares how he prepares today. He never stopped learning about survival and preparedness since the war. Regardless of what happens, chances are you will never experience extreme situations as Selco did. But you have the chance to learn from him and how he faced death for months.
Real survival is not romantic or idealistic. It is brutal, hard and unfair. Let Selco take you into that world.


investmentwatchblog--2020-06-28--9 Things to Buy Every Time You Go to the Store

Lots of folks have mentioned that their grocery stores never fully restocked after the rush on food and supplies back at the beginning of the COVID-19 lockdown .
And with the current news stories about spiking COVID numbers , it may not be long until we ’ re locked down again .
Work on what ’ s within your control It ’ s important to note that even if you are unconcerned about the virus , there are a lot of things that could be out of your control in the event of another governmental series of actions : • @ @ @ @ @ @ @ The economy will take another hit • You may not be able to go where you want Real , or not real ; dangerous or not , the end result for us is the same .
It ’ s just like the debate over whether a terror attack in the news is a false flag or an actual terror attack .
Every time I write about surviving one of these attacks , people flock to the comments to tell everyone that it was all crisis actors , the whole thing is a hoax @ @ @ @ @ @ @ to take away our guns .
But we ’ re talking about survival .
If you ’ re there when the bullets are flying or the bombs are going off or the planes are crashing , it doesn ’ t matter who ’ s behind it .
Your only goal at that point is to survive it .
With COVID , does it even matter if the numbers are accurate or not ?
Because the government is using it as an excuse to exercise rigid control over all of us – telling us @ @ @ @ @ @ @ when we can visit with loved ones , keeping us away from hospitals and leaving our ailing relatives to die alone , and enforcing laws about masks and appropriate distances .
Whether or not there ’ s another lockdown isn ’ t within our control .
There are those who believe the entire thing is baloney and that we locked down for no reason .
There are others who believe the lockdown saved countless lives .
As it ’ s impossible to prove a negative , we really have no way of knowing @ @ @ @ @ @ @ If stores aren ’ t open or supplies aren ’ t available , the end result is the same whether the virus is as deadly as it ’ s portrayed or not .
You may not be able to get what you need .
This article is about what you CAN do – you can be prepared .
With that , at least , we have some control .
Things to buy every time you go to the store We can reasonably predict that some of the things which were out of stock @ @ @ @ @ @ @ will be low again .
People will remember the things they couldn ’ t find and they ’ ll be determined to get them this time .
Most stores still have limits on certain products , so I suggest that every time you go to the store , you add the following items to your stockpile : • Toilet paper ( or you may be stuck with one of these TP alternatives ) And if you have a baby in the house , don ’ t forget to grab : • Infant supplies @ @ @ @ @ @ @ etc.
, if applicable You may not need to get these items every time but definitely pick up a few extras : These were some of the most common things that people ran out of or couldn ’ t purchase the last time around .
Allocate some of your budget to purchasing some of these items to put back every time you see them .
This will help to replenish your stockpile , which isn ’ t necessarily an easy task in these days of purchase limits .
Other things you may want @ @ @ @ @ @ @ or not you are considered an “ essential worker.
” If you are , your life may feel somewhat normal .
If you ’ re not , being home all the time could feel like a pretty big change .
• Save some money – another stimulus check and another round of unemployment + $ 600 are not guaranteed .
• Gather the supplies needed for projects to stay productive – organizational containers , paint , hardware , fabric , etc .
• Get what you need to work comfortably from home – @ @ @ @ @ @ @ etc .
• Take a look at different homeschool programs for your kids – here are some suggestions for places to start .
Check out this article – it ’ s a thorough guide to preparing for the second lockdown .
Now is the time to prepare If you prepare little by little , it ’ s a lot easier on your budget than buying your entire lockdown inventory all at once .
And keep in mind , everyone is thinking the same thing – “ I ’ m not going to run @ @ @ @ @ @ @ You may not even be able to find what you need if you wait until another series of lockdowns are announced .
By adding an extra $ 20 or so of supplies each time you visit the store , you ’ ll be better prepared next time around .
Do you think we ’ re headed for Round 2 of lockdowns ?
What are the things that you ’ re picking up every time you go to the store ?
Share your thoughts in the comments .
Daisy Luther writes about current events @ @ @ @ @ @ @ and the pursuit of liberty on her website , The Organic Prepper .
She is widely republished across alternative media and she curates all the most important news links on her aggregate site , PreppersDailyNews.com .
Daisy is the best-selling author of 4 books and runs a small digital publishing company .
You can find her on Facebook , Pinterest , and Twitter .

by Daisy Luther
Lots of folks have mentioned that their grocery stores never fully restocked after the rush on food and supplies back at the beginning of the COVID-19 lockdown. And with the current news stories about spiking COVID numbers, it may not be long until we’re locked down again.
Work on what’s within your control
It’s important to note that even if you are unconcerned about the virus, there are a lot of things that could be out of your control in the event of another governmental series of actions:
Workplaces may close back down
Supply chains may be further damaged
The economy will take another hit
You may not be able to go where you want
Real, or not real; dangerous or not, the end result for us is the same.
It’s just like the debate over whether a terror attack in the news is a false flag or an actual terror attack. Every time I write about surviving one of these attacks, people flock to the comments to tell everyone that it was all crisis actors, the whole thing is a hoax, or our own government did it to take away our guns.
But we’re talking about survival. If you’re there when the bullets are flying or the bombs are going off or the planes are crashing, it doesn’t matter who’s behind it. Your only goal at that point is to survive it.
With COVID, does it even matter if the numbers are accurate or not? Because the government is using it as an excuse to exercise rigid control over all of us – telling us when we can go to work, when we can visit with loved ones, keeping us away from hospitals and leaving our ailing relatives to die alone, and enforcing laws about masks and appropriate distances.
Whether or not there’s another lockdown isn’t within our control. There are those who believe the entire thing is baloney and that we locked down for no reason. There are others who believe the lockdown saved countless lives. As it’s impossible to prove a negative, we really have no way of knowing if our lockdown worked or not.
If stores aren’t open or supplies aren’t available, the end result is the same whether the virus is as deadly as it’s portrayed or not. You may not be able to get what you need.
This article is about what you CAN do – you can be prepared. With that, at least, we have some control.
We are primarily funded by readers. Please subscribe and donate to support us!
Things to buy every time you go to the store
We can reasonably predict that some of the things which were out of stock during the last run on the store will be low again. People will remember the things they couldn’t find and they’ll be determined to get them this time. Most stores still have limits on certain products, so I suggest that every time you go to the store, you add the following items to your stockpile:
Toilet paper (or you may be stuck with one of these TP alternatives)
Bleach
Hand sanitizer
Canned goods
Yeast
Baking supplies
Powdered milk
Rice
Beans
Meat
And if you have a baby in the house, don’t forget to grab:
Infant supplies like diapers, wipes, formula, etc., if applicable
You may not need to get these items every time but definitely pick up a few extras:
Paper towels
Disposable plates and cutlery
Disinfecting wipes
Disinfecting sprays and cleaning products
These were some of the most common things that people ran out of or couldn’t purchase the last time around. Allocate some of your budget to purchasing some of these items to put back every time you see them. This will help to replenish your stockpile, which isn’t necessarily an easy task in these days of purchase limits.
Other things you may want to do
A lot depends on whether or not you are considered an “essential worker.” If you are, your life may feel somewhat normal. If you’re not, being home all the time could feel like a pretty big change.
Save some money – another stimulus check and another round of unemployment + $600 are not guaranteed.
Gather the supplies needed for projects to stay productive – organizational containers, paint, hardware, fabric, etc.
Get what you need to work comfortably from home – laptop, office chair, headset, etc.
Take a look at different homeschool programs for your kids – here are some suggestions for places to start.
Check out this article – it’s a thorough guide to preparing for the second lockdown.
Now is the time to prepare
If you prepare little by little, it’s a lot easier on your budget than buying your entire lockdown inventory all at once. And keep in mind, everyone is thinking the same thing – “I’m not going to run out of toilet paper this time.” You may not even be able to find what you need if you wait until another series of lockdowns are announced.
By adding an extra $20 or so of supplies each time you visit the store, you’ll be better prepared next time around.
Do you think we’re headed for Round 2 of lockdowns? What are the things that you’re picking up every time you go to the store? Share your thoughts in the comments.
About Daisy
Daisy Luther writes about current events, preparedness, frugality, voluntaryism, and the pursuit of liberty on her website, The Organic Prepper. She is widely republished across alternative media and she curates all the most important news links on her aggregate site, PreppersDailyNews.com. Daisy is the best-selling author of 4 books and runs a small digital publishing company. You can find her on Facebook, Pinterest, and Twitter.


investmentwatchblog--2020-06-28--PORTLAND: ANTIFA Sets Fire To Police Station With Police Still Inside

At approximately 10:00 pm , several hundred demonstrators began gathering outside North Precinct near Northeast Emerson Street and Northeast Martin Luther King Boulevard .
Demonstrators arrived with supplies to build a fence and began erecting one which stretched from the south side of North Precinct to the north side of the Boys and Girls Club .
While building the fence , demonstrators blocked northbound traffic at Northeast MLK Boulevard .
During this time , demonstrators began throwing projectiles at police including glass bottles .
By 11:00 p.m. , demonstrators began moving dumpsters and other large barriers around North Precinct .
@ @ @ @ @ @ @ large garage doors located on the west side of the North Precinct in an attempt to breach the building .
Demonstrators were not successful at breeching the doors so they turned their attention to barricading exit doors so officers inside the building , as well as people in custody , could not get out .
By 12:00 a.m. , a demonstrator in the crowd outside North Precinct began yelling over a bullhorn that they were “ going to burn the building down “ .
Several demonstrators in the crowd were wearing masks and @ @ @ @ @ @ @ Officers over the barricade they had built on Northeast Emerson Street .
Around 1:00 a.m. , there were still several hundred demonstrators in the crowd surrounding North Precinct .
Due to life safety issues , the sound truck made an admonishment stating an unlawful assembly had been declared , instructing the crowd they needed to leave the area immediately or they could be subject to use of force or arrest .
At approximately 1:21 a.m. , officers began dispersing the crowd in an effort to move them from the immediate area .
While @ @ @ @ @ @ @ with officers .
Furthermore , demonstrators shot officers with paintball rounds , causing officers not to be able to see out of their face shields .
Around 1:40 a.m. , a mortar was launched on to the roof of North Precinct .
During this time , crowd control munitions were deployed .
By 2:14 a.m. , demonstrators had set the north side of North Precinct on fire .
To protect the life and safety of police personnel and community members inside the precinct , CS gas was used to disperse the crowd .
@ @ @ @ @ @ @ CS gas and threw it at the police .
Around 2:56 a.m. , demonstrators began looting and setting fire to businesses in the area .
Several business windows were broken and fires were set to property .
By 3:30 a.m. , a majority of the crowd had dispersed .
Numerous officers sustained minor injuries .
One officer was taken to the hospital for a more serious injury .
All officers are expected to make a full recovery .
PORTLAND : Soy-boi Society of ANTIFA Gets Their Asses Handed To Them By Police

Arrest Information for June 25th Demonstrations
At approximately 10:00 pm, several hundred demonstrators began gathering outside North Precinct near Northeast Emerson Street and Northeast Martin Luther King Boulevard. Demonstrators arrived with supplies to build a fence and began erecting one which stretched from the south side of North Precinct to the north side of the Boys and Girls Club. While building the fence, demonstrators blocked northbound traffic at Northeast MLK Boulevard. During this time, demonstrators began throwing projectiles at police including glass bottles.
By 11:00 p.m., demonstrators began moving dumpsters and other large barriers around North Precinct. Some demonstrators began ramming the dumpsters into large garage doors located on the west side of the North Precinct in an attempt to breach the building. Demonstrators were not successful at breeching the doors so they turned their attention to barricading exit doors so officers inside the building, as well as people in custody, could not get out.
www.portlandoregon.gov/police/news/image.cfm?i=135599&t=n&n=North_precinct_3.jpg
By 12:00 a.m., a demonstrator in the crowd outside North Precinct began yelling over a bullhorn that they were “ going to burn the building down “. Several demonstrators in the crowd were wearing masks and yielding shields. Fireworks were thrown at Officers over the barricade they had built on Northeast Emerson Street.
Around 1:00 a.m., there were still several hundred demonstrators in the crowd surrounding North Precinct. Due to life safety issues, the sound truck made an admonishment stating an unlawful assembly had been declared, instructing the crowd they needed to leave the area immediately or they could be subject to use of force or arrest.
At approximately 1:21 a.m., officers began dispersing the crowd in an effort to move them from the immediate area. While performing this lawful action, demonstrators fought with officers. Furthermore, demonstrators shot officers with paintball rounds, causing officers not to be able to see out of their face shields. Around 1:40 a.m., a mortar was launched on to the roof of North Precinct. During this time, crowd control munitions were deployed.
By 2:14 a.m., demonstrators had set the north side of North Precinct on fire. To protect the life and safety of police personnel and community members inside the precinct, CS gas was used to disperse the crowd. Several demonstrators picked up the canisters of CS gas and threw it at the police.
www.portlandoregon.gov/police/news/image.cfm?i=135599&t=n&n=Fire_1.JPG
Around 2:56 a.m., demonstrators began looting and setting fire to businesses in the area. Several business windows were broken and fires were set to property. By 3:30 a.m., a majority of the crowd had dispersed.
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Numerous officers sustained minor injuries. One officer was taken to the hospital for a more serious injury. All officers are expected to make a full recovery.
www.portlandoregon.gov/police/news/read.cfm?id=250925
ANFIFA MILITANTS Try TAKING OVER PORTLAND POLICE..
Antifa Attack Portland Police North Precinct
Antifa Riot, Loot & Carry Out Arson Attacks in North Portland
PORTLAND: Soy-boi Society of ANTIFA Gets Their Asses Handed To Them By Police
Portland police declare unlawful assembly as protesters barricade North Precinct
Portland Police FINALLY start clearing out Antifa
Portland Police Kick Antifa’s ass
h/t CrsCrpr


investmentwatchblog--2020-06-28--NOT SEATTLE: Oklahoma Judge Charges Protesters with Terrorism, Rioting and Assault

“ This is Not Seattle – We ’ re Not Putting Up with This Lawlessness Here ” – Oklahoma Judge Charges Protesters with Terrorism , Rioting and Assault Several Black Lives Matter protesters were arrested and charged with terrorism , rioting and assault following the violent protests in Oklahoma City following the death of George Floyd .
Oklahoma County District Attorney David Prater told the rioters , “ This is not Seattle .
We ’ re not putting up with this lawlessness here.
” Protesters blamed for the violence that broke out in Oklahoma City the last weekend in May @ @ @ @ @ @ @ and assault .
If convicted of the felony offenses , they could be sentenced to years in prison .
Oklahoma County District Attorney David Prater made the decisions himself on the charges in a get-tough approach meant to deter others from going too far during protests in the future .
“ This is not Seattle , ” Prater said Friday .
“ We ’ re not putting up with this lawlessness here.
” Also charged Friday were five defendants identified as involved in the painting of murals in downtown Oklahoma City this week @ @ @ @ @ @ @ to riot charge of interfering with a police sergeant who was trying to take a homicide witness for an interview at police headquarters Tuesday .

“This is Not Seattle – We’re Not Putting Up with This Lawlessness Here” – Oklahoma Judge Charges Protesters with Terrorism, Rioting and Assault
Several Black Lives Matter protesters were arrested and charged with terrorism, rioting and assault following the violent protests in Oklahoma City following the death of George Floyd.
Oklahoma County District Attorney David Prater told the rioters, “This is not Seattle. We’re not putting up with this lawlessness here.”
www.thegatewaypundit.com/2020/06/not-seattle-not-putting-lawlessness-oklahoma-judge-charges-protesters-terrorism-rioting-assault/
Some OKC protesters charged with terrorism, rioting, assault
Protesters blamed for the violence that broke out in Oklahoma City the last weekend in May were charged Friday with terrorism, rioting and assault.
We are primarily funded by readers. Please subscribe and donate to support us!
If convicted of the felony offenses, they could be sentenced to years in prison.
Oklahoma County District Attorney David Prater made the decisions himself on the charges in a get-tough approach meant to deter others from going too far during protests in the future.
“This is not Seattle,” Prater said Friday. “We’re not putting up with this lawlessness here.”
Also charged Friday were five defendants identified as involved in the painting of murals in downtown Oklahoma City this week. They are accused in an incitement to riot charge of interfering with a police sergeant who was trying to take a homicide witness for an interview at police headquarters Tuesday.
oklahoman.com/article/5665507/protesters-charged-with-terrorism-rioting-assault
h/t CrsCrpr


investmentwatchblog--2020-06-29--Doug Noland…one of the smartest ‘big picture’ macro people around

Aug. looks really `` interesting '' : Potential end of $ 600/wk in unemployment checks .
Markets finally wake up @ @ @ @ @ with a President Joe .
Hard look at Q2 economic numbers .
Heck , 8/15 @ @ @ @ @ gold standard was eliminated , the start of a jubilee year ?

Aug. looks really "interesting":
Potential end of $600/wk in unemployment checks.
Markets finally wake up to the coming blue wave with a President Joe.
Hard look at Q2 economic numbers.
Heck, 8/15 is 49 yrs since the gold standard was eliminated, the start of a jubilee year?
— Brad Huston (@BradHuston) June 29, 2020


investmentwatchblog--2020-06-29--Forget the V, W or L Recovery: Focus on N-P-B

The only realistic Plan B is a fundamental , permanent re-ordering of the cost structure of the entire U.S. economy .
The fantasy of a V-shaped recovery has evaporated , and expectations for a W or L-shaped recovery are increasingly untenable .
So forget V , W and L ; the letters that will shape the future are N , P , B : there is No Plan B .
All the hopes for a recovery were based on a quick return to the economy that existed in late 2019 .
All the bailouts and stimulus programs were based on @ @ @ @ @ @ @ to The Old Normal .
This was Plan A .
For all the reasons that have been laid out here over the past six months , The Old Normal is gone for good .
The Old Normal economy was too precarious , too brittle and too fragile to survive the toppling of any domino , as the only Plan A “ solution ” was to push destabilizing extremes to new extremes , i.e .
doing more of what failed spectacularly and increasing the fragility of precariously fragile systems .
A short list of @ @ @ @ @ @ @ to a systemic collapse in demand , exponential rise in risk and uncertainty , dependence on over-indebtedness , imploding global supply chains , structural decline in income and employment and the rapid emergence of new business models that obsolete high-cost , inefficient , sclerotic , bureaucratic monopolies include : We could also include entire sectors that have yet to recognize the tsunami that ’ s about to wash away their Old Normal : marketing , finance , local governance , etc .
The problem is there ’ s no Plan B for anything @ @ @ @ @ @ @ only Plan A , a return to 2019 / The Old Normal .
If that ’ s no longer possible , there is literally nothing left on the policy / response plate .
What nobody dares even ask is : what businesses and industries will still be financially viable running at 50 % capacity ?
How many cafes , restaurants , resorts , airlines , etc .
will turn a profit operating at 50 % capacity ?
How many can not just survive half of the seats being empty , but turn a @ @ @ @ @ @ @ few , because the operating costs of most businesses are unbearably high .
The likely survivors are those enterprises with low fixed costs and low operating costs– enterprises that own their facilities in locales with low property taxes , and enterprises that can be run by the owners without employees .
How many enterprises have these kinds of barebones cost structures ?
Very few .
For most enterprises , the only way they can lower their costs to a level that enables their survival is to cut costs by half : cut rent @ @ @ @ @ @ @ taxes , fees , utilities , insurance , etc .
by half .
That would mean everyone down the line would have to survive on half of their previous revenues : landlords , banks , local municipalities , service providers , and so on .
How many of these institutions and enterprises could survive on 50 % of their previous revenues ?
The only realistic Plan B is a fundamental , permanent re-ordering of the cost structure of the entire U.S. economy .
Call it DeGrowth , or creative destruction , or disruption @ @ @ @ @ @ @ we use , the reality will be extraordinarily disruptive , uncertain , risky and unpredictable .
As many of us has explained over the years , unstable , brittle , fragile systems characterized by soaring inequality , pay-to-play political corruption and dependence on debt , leverage and speculative bubbles were unsustainable .
Plan B can be a chaotic mess of denial and failed half-measures that only make all the problems worse , or it can be a positive transformation that results in a society that does more with less .
The choice is @ @ @ @ @ @ @ I composed on February 2 , 2020 is still playing out , increasing uncertainty .

by Charles Hugh-Smith
The only realistic Plan B is a fundamental, permanent re-ordering of the cost structure of the entire U.S. economy.
The fantasy of a V-shaped recovery has evaporated, and expectations for a W or L-shaped recovery are increasingly untenable. So forget V, W and L; the letters that will shape the future are N, P, B: there is No Plan B.
All the hopes for a recovery were based on a quick return to the economy that existed in late 2019. All the bailouts and stimulus programs were based on this single goal: a quick return to The Old Normal. This was Plan A.
For all the reasons that have been laid out here over the past six months, The Old Normal is gone for good. The Old Normal economy was too precarious, too brittle and too fragile to survive the toppling of any domino, as the only Plan A “solution” was to push destabilizing extremes to new extremes, i.e. doing more of what failed spectacularly and increasing the fragility of precariously fragile systems.
A short list of what’s been irreversibly destabilized due to a systemic collapse in demand, exponential rise in risk and uncertainty, dependence on over-indebtedness, imploding global supply chains, structural decline in income and employment and the rapid emergence of new business models that obsolete high-cost, inefficient, sclerotic, bureaucratic monopolies include:
1. Healthcare
2. Higher education
3. Commercial real estate
4. Tourism
5. Restaurants / live entertainment
6. Business travel / conferences
7. Office parks, commutes, urban work forces, etc.
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8. High-cost urban lifestyles
We could also include entire sectors that have yet to recognize the tsunami that’s about to wash away their Old Normal: marketing, finance, local governance, etc.
The problem is there’s no Plan B for anything in the U.S. economy. There is only Plan A, a return to 2019 / The Old Normal. If that’s no longer possible, there is literally nothing left on the policy / response plate.
What nobody dares even ask is: what businesses and industries will still be financially viable running at 50% capacity? How many cafes, restaurants, resorts, airlines, etc. will turn a profit operating at 50% capacity? How many can not just survive half of the seats being empty, but turn a profit?
The short answer is very few, because the operating costs of most businesses are unbearably high. The likely survivors are those enterprises with low fixed costs and low operating costs– enterprises that own their facilities in locales with low property taxes, and enterprises that can be run by the owners without employees.
How many enterprises have these kinds of barebones cost structures? Very few.
For most enterprises, the only way they can lower their costs to a level that enables their survival is to cut costs by half: cut rent, mortgages, debt service, property taxes, fees, utilities, insurance, etc. by half.
That would mean everyone down the line would have to survive on half of their previous revenues: landlords, banks, local municipalities, service providers, and so on.
How many of these institutions and enterprises could survive on 50% of their previous revenues?
The only realistic Plan B is a fundamental, permanent re-ordering of the cost structure of the entire U.S. economy. Call it DeGrowth, or creative destruction, or disruption if you prefer, but whatever name we use, the reality will be extraordinarily disruptive, uncertain, risky and unpredictable.
As many of us has explained over the years, unstable, brittle, fragile systems characterized by soaring inequality, pay-to-play political corruption and dependence on debt, leverage and speculative bubbles were unsustainable.
Plan B can be a chaotic mess of denial and failed half-measures that only make all the problems worse, or it can be a positive transformation that results in a society that does more with less. The choice is ours.
Unfortunately, the pandemic chart I composed on February 2, 2020 is still playing out, increasing uncertainty.


investmentwatchblog--2020-06-29--Fed Discloses it Bought Tiny Amounts of Corporate Bonds, Including a Whopping $15.5 Million (with an

Fed Discloses it Bought Tiny Amounts of Corporate Bonds, Including a Whopping $15.5 Million (with an M) in Junk Bonds

Here are the 84 companies whose bonds the Fed bought , and the 16 bond ETFs it now holds .
The Federal Reserve disclosed Sunday afternoon the amounts and the company names of the corporate bonds that it started buying for the first time ever in the week ended Friday , June 19 .
They ’ re not even rounding errors on the Fed ’ s balance sheet .
The purchases of individual corporate bonds amounted to $ 428 million ( with an M ) .
By comparison , in the week ended April 1 , when the Fed was @ @ @ @ @ @ @ it bought $ 362 billion ( with a B ) of Treasury securities .
In addition , the Fed said in the disclosure that it held a total of $ 6.8 billion in bond ETFs as of June 19 , up from $ 1.5 billion a month ago .
These bond ETFs and individual corporate bonds combined account for 1/10th of 1 % of the Fed ’ s $ 7.1 trillion in total assets .
The Fed buys these corporate bonds and bond ETFs in its Special Purpose Vehicle that it calls Secondary @ @ @ @ @ @ @ .
Like the Fed ’ s other alphabet-soup bailout SPVs , the SMCCF is an LLC entity .
The SPV is funded in two ways : One , with equity capital provided by the US Treasury Department , or rather by taxpayers , or rather by government borrowing , to cushion the Fed against losses ; and two , by loans from the Fed at a leverage of 10 to 1 .
Then the SPV buys corporate bonds and bond ETFs in the open markets via the Fed ’ s primary dealers .
@ @ @ @ @ @ @ details .
All these purchases and holdings were already reflected on the Fed ’ s prior weekly balance sheets in terms of the total amounts .
Today ’ s disclosure just provides the company-specific details .
The bonds that the Fed purchased were issued by 84 companies , in industries ranging from tobacco to video games , across the spectrum of US companies , and US subsidiaries of foreign companies ( such as Toyota ’ s US finance subsidiary ) .
The issuers include several of Warren Buffett ’ s companies , all @ @ @ @ @ @ @ junk-rated companies , such as Ford .
But not a lot of junk on the list .
In terms of junk bonds , there isn ’ t much .
Only 3.62 % of its bond portfolio is now rated BB ( BB+ , BB , BB- ) , the top category of junk .
This includes Ford ( BB+ ) .
The Fed did not buy any bonds rated CCC or below .
With 3.62 % of the total corporate bond portfolio ( $ 428 million ) being junk bonds , the amount @ @ @ @ @ @ @ $ 15.5 million .
The categories AAA , AA , and A account for 48.07 % of the bonds .
The category of BBB , the lowest investment-grade category , accounts for 48.31 % .
The average maturity of the bonds is 3.3 years , ranging from 11 months ( a Chevron bond that matures in May 2021 ) to five years ( a Honeywell bond that matures in June 2025 ) .
Significantly , there are no long-dated maturities in this portfolio .
When these bonds mature , the company pays the @ @ @ @ @ @ @ and the bond disappears off the Fed ’ s balance sheet .
If the maturing bond is not replaced , the SPV can use the proceeds to pay down the loan the Fed issued .
By keeping maturities in the one-to-five-year range , the Fed appears to be setting the stage for letting the bonds roll off its balance sheet and be done with the program once the crisis is over .
AT & T is at the top of the list , with $ 16.5 million of bonds .
The smallest position @ @ @ @ @ @ @ just symbolically dabbling here , really , since hotel bonds could get dicey .
There are also bonds from Southwest , but no bonds issued by American Airlines , Delta , or United , which would have spiced up the portfolio in a nerve-wracking manner for sure .
The table below shows the companies whose bonds the Fed purchased .
If the Fed purchased several types of bonds from one company , or from a company ’ s subsidiary , I added them together .
For example , the bonds of IBM Corp @ @ @ @ @ @ @ “ IBM.
” At the end of May , the Fed disclosed that it had purchased $ 1.5 billion in corporate bond ETFs through May 18 .
Since then , the Fed has purchased more bond ETFs , and the market value as of June 18 of all its ETF holdings combined had increased to $ 6.8 billion .
This includes several junk-bond focused ETFs , but the amounts are small .
For example , its holdings of the popular iShares iBoxx High Yield Corporate Bond ETF [ HYG ] are only $ @ @ @ @ @ @ @ continue to buy some corporate bond ETFs and individual corporate bonds .
But the bond market is currently red-hot .
Spreads have tightened .
And even American Airlines and Carnival Corp were able to issue new bonds though their revenues have collapsed .
They need billions of dollars in new fuel to burn to get through this crisis , and they got the first pile of it from investors .
The Fed looks at this as a sign of success – that it essentially has done its job to keep credit flowing to @ @ @ @ @ @ @ doesn ’ t need to do much more .
So now , it ’ s dabbling in these bond purchases , dabbling by Fed standards , where big moves are counted in hundreds of billions of dollars , not in millions or a few billion .
On the other side of the coin .
In reality , the Fed has been pushing up bond prices and stock prices to bail out asset holders so that they have absolutely no skin in the crisis , and this strategy has widened by a massive amount @ @ @ @ @ @ @ holders and labor in the US – and the bigger the asset holders , the more they got from the Fed .
It also creates the notion that the Fed will always bailout asset holders , and that there is never a price to pay for any downturns , and that only people who work for a living have to pay that price .

Here are the 84 companies whose bonds the Fed bought, and the 16 bond ETFs it now holds.
By Wolf Richter for WOLF STREET.
The Federal Reserve disclosed Sunday afternoon the amounts and the company names of the corporate bonds that it started buying for the first time ever in the week ended Friday, June 19. They’re not even rounding errors on the Fed’s balance sheet. The purchases of individual corporate bonds amounted to $428 million (with an M). By comparison, in the week ended April 1, when the Fed was doing a lot of heavy breathing, it bought $362 billion (with a B) of Treasury securities.
In addition, the Fed said in the disclosure that it held a total of $6.8 billion in bond ETFs as of June 19, up from $1.5 billion a month ago.
These bond ETFs and individual corporate bonds combined account for 1/10th of 1% of the Fed’s $7.1 trillion in total assets.
The Fed buys these corporate bonds and bond ETFs in its Special Purpose Vehicle that it calls Secondary Market Corporate Credit Facility (SMCCF). Like the Fed’s other alphabet-soup bailout SPVs, the SMCCF is an LLC entity.
The SPV is funded in two ways: One, with equity capital provided by the US Treasury Department, or rather by taxpayers, or rather by government borrowing, to cushion the Fed against losses; and two, by loans from the Fed at a leverage of 10 to 1. Then the SPV buys corporate bonds and bond ETFs in the open markets via the Fed’s primary dealers. The New York Fed handles all the details.
All these purchases and holdings were already reflected on the Fed’s prior weekly balance sheets in terms of the total amounts. Today’s disclosure just provides the company-specific details.
The Nitty Gritty.
The bonds that the Fed purchased were issued by 84 companies, in industries ranging from tobacco to video games, across the spectrum of US companies, and US subsidiaries of foreign companies (such as Toyota’s US finance subsidiary). The issuers include several of Warren Buffett’s companies, all kinds of energy companies, and some junk-rated companies, such as Ford.
But not a lot of junk on the list.
In terms of junk bonds, there isn’t much. Only 3.62% of its bond portfolio is now rated BB (BB+, BB, BB-), the top category of junk. This includes Ford (BB+). The Fed did not buy any bonds rated CCC or below. With 3.62% of the total corporate bond portfolio ($428 million) being junk bonds, the amount of junk bonds it holds come to $15.5 million.
The categories AAA, AA, and A account for 48.07% of the bonds. The category of BBB, the lowest investment-grade category, accounts for 48.31%.
The average maturity of the bonds is 3.3 years, ranging from 11 months (a Chevron bond that matures in May 2021) to five years (a Honeywell bond that matures in June 2025). Significantly, there are no long-dated maturities in this portfolio.
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When these bonds mature, the company pays the Fed face value of the bonds, and the bond disappears off the Fed’s balance sheet. If the maturing bond is not replaced, the SPV can use the proceeds to pay down the loan the Fed issued.
By keeping maturities in the one-to-five-year range, the Fed appears to be setting the stage for letting the bonds roll off its balance sheet and be done with the program once the crisis is over.
AT&T is at the top of the list, with $16.5 million of bonds. The smallest position is Hyatt at $1.09 million – just symbolically dabbling here, really, since hotel bonds could get dicey.
There are also bonds from Southwest, but no bonds issued by American Airlines, Delta, or United, which would have spiced up the portfolio in a nerve-wracking manner for sure.
The table below shows the companies whose bonds the Fed purchased. If the Fed purchased several types of bonds from one company, or from a company’s subsidiary, I added them together. For example, the bonds of IBM Corp and IBM Credit are added together under “IBM.”
Issuer Maturity Date Purchase Amount $ 1 AT&T INC 07/15/2021 16,476,295 2 UNITEDHEALTH GROUP 07/15/2022 16,451,866 3 COMCAST 04/15/2024 13,315,347 4 ANTHEM 05/15/2022 12,937,096 5 IBM 05/13/2022 10,631,583 6 MICROSOFT 02/06/2022 8,855,357 7 WALMART 06/26/2023 8,758,532 8 CONSTELLATION BRANDS 02/15/2023 8,465,435 9 FORD MOTOR COMPANY 04/21/2023 8,051,573 10 CVS HEALTH CORP 03/25/2025 7,762,008 11 BOEING CO 05/01/2023 7,648,613 12 GENERAL ELECTRIC CO 09/07/2022 7,403,280 13 ABBVIE INC 10/01/2022 7,394,460 14 MEDTRONIC INC 03/15/2022 6,658,502 15 COCA-COLA CO 03/25/2025 6,652,748 16 PEPSICO INC 04/30/2025 6,637,973 17 SABINE PASS LIQUEFACTION 03/15/2022 6,512,097 18 MCDONALD’S CORP 01/15/2022 6,488,806 19 BECTON DICKINSON AND CO 06/06/2022 6,342,504 20 PHILIP MORRIS INTL 11/10/2024 6,236,320 21 BERKSHIRE HATHAWAY ENERG 04/15/2025 5,774,200 22 PROLOGIS LP 08/15/2023 5,622,744 23 MARATHON PETROLEUM 05/01/2025 5,543,247 24 GENERAL MILLS 10/17/2023 5,535,298 25 FLORIDA POWER & LIGHT 04/01/2025 5,506,758 26 LOWE’S COS 04/15/2022 5,492,097 27 PFIZER INC 09/15/2023 5,458,757 28 SYSCO CORPORATION 03/15/2025 5,452,704 29 BP CAP MARKETS AMERICA 04/06/2025 5,433,591 30 MASTERCARD 04/01/2024 5,430,832 31 MARRIOTT INTERNATIONAL 05/01/2025 5,416,798 32 GILEAD SCIENCES 09/01/2022 5,331,400 33 EVERSOURCE ENERGY 10/01/2024 5,312,492 34 VISA INC 12/14/2022 5,283,044 35 EXXON MOBIL 08/16/2024 5,211,729 36 WALGREENS BOOTS ALLIANCE 11/18/2021 5,169,408 37 ENERGY TRANSFER OPERATNG 01/15/2024 5,156,184 38 DUPONT DE NEMOURS INC 05/01/2023 5,122,159 39 CHEVRON 05/11/2025 5,113,264 40 TOYOTA MOTOR CREDIT 08/25/2023 5,070,899 41 CATERPILLAR FINL SERVICE 05/13/2022 5,045,104 42 PACCAR FINANCIAL 04/06/2023 4,756,010 43 FOX CORP 01/25/2024 4,509,400 44 HEALTHPEAK PROPERTIES 08/15/2024 4,469,758 45 INTERCONTINENTALEXCHANGE 10/15/2023 4,461,760 46 FISERV INC 10/01/2023 4,412,613 47 DELMARVA PWR & LIGHT CO 11/15/2023 4,383,302 48 VMWARE INC 05/15/2025 4,381,185 49 3M COMPANY 04/15/2025 4,356,304 50 EASTMAN CHEMICAL 08/15/2022 4,238,120 51 GEORGIA POWER CO 07/30/2023 4,208,827 52 HP ENTERPRISE CO 04/01/2023 4,143,570 53 CARGILL INC 07/23/2023 4,078,236 54 HUMANA INC 04/01/2025 4,052,405 55 AUTOZONE INC 04/15/2025 3,376,393 56 DTE ELECTRIC CO 03/01/2025 3,373,695 57 FEDEX CORP 05/15/2025 3,360,613 58 BURLINGTN NORTH SANTA FE 09/01/2024 3,339,810 59 VIRGINIA ELEC & POWER 05/15/2025 3,300,755 60 AVANGRID INC 04/15/2025 3,288,007 61 PROCTER & GAMBLE 03/25/2025 3,266,060 62 PHILLIPS 66 04/01/2022 3,227,510 63 PAYPAL HOLDINGS 10/01/2024 3,201,220 64 UNITED PARCEL SERVICE 04/01/2023 3,174,262 65 HONEYWELL INTERNATIONAL 06/01/2025 3,072,735 66 DIAMONDBACK ENERGY INC 12/01/2024 3,007,643 67 CAMPBELL SOUP CO 03/15/2025 2,847,410 68 REALTY INCOME CORP 08/01/2023 2,799,115 69 CME GROUP INC 03/15/2025 2,785,633 70 FIRSTENERGY CORP 03/15/2023 2,736,443 71 REPUBLIC SERVICES INC 08/15/2024 2,682,653 72 EDISON INTERNATIONAL 11/15/2024 2,651,085 73 HOME DEPOT INC 06/01/2022 2,613,999 74 NUCOR CORP 06/01/2025 2,584,961 75 ARES CAPITAL CORP 06/10/2024 2,562,600 76 GENERAL MOTORS FINL CO 03/20/2023 2,156,573 77 NIKE INC 03/27/2025 2,154,373 78 DOLLAR GENERAL CORP 04/15/2023 2,140,035 79 WILLIAMS COMPANIES INC 03/15/2022 2,103,140 80 SOUTHWEST AIRLINES 05/04/2023 2,102,015 81 PHILLIPS 66 PARTNERS LP 12/15/2024 2,069,484 82 DUKE ENERGY CORP 04/15/2024 1,663,630 83 ACTIVISION BLIZZARD 06/15/2022 1,558,645 84 HYATT HOTELS CORP 04/23/2025 1,090,262
Corporate Bond ETFs.
At the end of May, the Fed disclosed that it had purchased $1.5 billion in corporate bond ETFs through May 18. Since then, the Fed has purchased more bond ETFs, and the market value as of June 18 of all its ETF holdings combined had increased to $6.8 billion.
This includes several junk-bond focused ETFs, but the amounts are small. For example, its holdings of the popular iShares iBoxx High Yield Corporate Bond ETF [HYG] are only $245.8 million:
Ticker Fund Name Market Value, June 18, $ LQD iShares iBoxx US Dollar Investment Grade Corporate Bond ETF 1,782,971,624 VCSH Vanguard Short-Term Corporate Bond ETF 1,307,906,475 VCIT Vanguard Intermediate-Term Corporate Bond ETF 1,037,071,572 IGSB iShares Short-Term Corporate Bond ETF 607,806,116 JNK SPDR Bloomberg Barclays High Yield Bond ETF 411,874,114 SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF 404,663,795 IGIB iShares Intermediate-Term Corporate Bond ETF 397,995,018 HYG iShares iBoxx High Yield Corporate Bond ETF 245,782,706 SPSB SPDR Portfolio Short Term Corporate Bond ETF 237,257,161 USIG iShares Broad US Dollar Investment Grade Corporate Bond ETF 150,392,808 HYLB Xtrackers US Dollar High Yield Corporate Bond ETF 56,224,553 USHY iShares Broad US Dollar High Yield Corporate Bond ETF 49,015,670 SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF 43,799,540 ANGL VanEck Vectors Fallen Angel High Yield Bond ETF 28,862,665 SHYG iShares 0-5 Year High Yield Corporate Bond ETF 23,341,086 SJNK SPDR Bloomberg Barclays Short Term High Yield Bond ETF 20,741,161
Going forward…
The Fed will likely continue to buy some corporate bond ETFs and individual corporate bonds. But the bond market is currently red-hot. Spreads have tightened. And even American Airlines and Carnival Corp were able to issue new bonds though their revenues have collapsed. They need billions of dollars in new fuel to burn to get through this crisis, and they got the first pile of it from investors.
The Fed looks at this as a sign of success – that it essentially has done its job to keep credit flowing to these companies, and that it really doesn’t need to do much more. So now, it’s dabbling in these bond purchases, dabbling by Fed standards, where big moves are counted in hundreds of billions of dollars, not in millions or a few billion.
On the other side of the coin.
In reality, the Fed has been pushing up bond prices and stock prices to bail out asset holders so that they have absolutely no skin in the crisis, and this strategy has widened by a massive amount the already huge wealth disparity between asset holders and labor in the US – and the bigger the asset holders, the more they got from the Fed.
It also creates the notion that the Fed will always bailout asset holders, and that there is never a price to pay for any downturns, and that only people who work for a living have to pay that price.


investmentwatchblog--2020-06-29--What’s in Beijing’s Mystery Security Law Will Be a Giant Tell about Hong Kong’s Future

Sense of Foreboding in Hong Kong .
Beijing ’ s black-box approach doesn ’ t bode well for local freedoms .
By Chris Oliver , Hong Kong , former business editor at SCMP .
For WOLF STREET : Hongkongers woke earlier this week to a timeline for a new national security law written in Beijing that sets out a handful of days before the legislation is passed .
The troubling thing is that few know what ’ s actually inside the new law .
The controversial bill – widely regarded as already fixed in stone – is expected to be @ @ @ @ @ @ @ National People ’ s Congress Standing Committee which gets underway on Sunday , according to local newspaper reports citing mainland sources .
One theory is that the bill will be passed on Tuesday , June 30 , the eve of the 23rd anniversary of the handover that ended 156 years of British colonial rule .
When the law will be enacted is not known , but sometime during either July or August looks likely ( photo by Chris Oliver ) .
If the new law is passed next week as expected , it @ @ @ @ @ @ @ unveiling in late May – a blistering pace for a national law , especially one affecting Hong Kong , a city known for its low crime rate and social stability .
Hongkongers can be forgiven for feeling a sense of foreboding , thanks to the Kafkaesque manner in which the new law is taking shape .
Few in the city have seen a copy of the bill drafted in Beijing , not even Hong Kong ’ s leader Carrie Lam , or the Secretary for Justice Teresa Cheng , although both have urged @ @ @ @ @ @ @ to support it .
In the five weeks since Beijing ’ s announcement , Ms Lam and her fellow cabinet members have been scrambling to spin the proposed law in a positive light , saying it will help to restore stability after a year of political unrest .
Large outdoor billboards with messages of support for the proposed law have also popped up around the city .
In spite of the PR campaign , Beijing looks set to keep the full contents of the bill under wraps until it has passed .
One @ @ @ @ @ @ @ consultation could mean that Beijing is running afoul of its own legal code that requires the government to seek public input on important legislation .
Another risk : Steamrolling the new law without consultation could derail Beijing ’ s attempts to bolster a sense of national pride among Hong Kong residents .
“ Without this [ national security law ] being seen and soliciting comment , especially among dissenting voices , you are going to have difficulty implementing the law .
You are going to lack credibility , ” Bing Ling , associate @ @ @ @ @ @ @ Law , Law School of University of Sydney told RTHK .
Beijing ’ s push for the national security law comes roughly a year after Hong Kong was rocked by mass demonstrations against a proposed extradition treaty that would have allowed the exchange of suspected criminals with the mainland ( none exists currently ) .
The legislation , put forward by Hong Kong ’ s administration , was eventually withdrawn .
Notwithstanding , the national security law is moving ahead at a turbo-charged clip , even as questions about its contents linger .
@ @ @ @ @ @ @ Kong-based delegates to China ’ s upper law-making body were reportedly able to see a hard copy earlier this week , but had to hand it back , presumably before they could take photos with their smartphones .
The new law will define crimes involving secession and subversion .
One section warns against collusion with foreign or external forces to endanger national security , according to a Xinhua news report .
This could make it a crime if , say , local politicians or labor leaders were to meet with visiting counterparts in @ @ @ @ @ @ @ .
Question marks also remain over procedures and administration .
These include whether Hong Kong courts will handle the prosecutions , what judges will be deemed qualified to preside over the cases and how will the local police force ( or mainland security agents ) investigate the crimes ?
( For a summary of the law and its impacts visit the NPC Observer ) Legal scholars say Beijing ’ s black-box approach doesn ’ t bode well for local freedoms , as existing Hong Kong law already has provisions covering rioting , assault @ @ @ @ @ @ @ is my interview of Marc Faber , of “ The Gloom , Boom & Doom Report , ” where he shares his outlook for the Hong Kong economy and global markets .
“ If there is something missing in the law that ’ s going to be filled next week , it has to be a prohibition on certain peaceful acts , ” said Carole Peterson , professor of law and graduate chair , Matsunaga Institute for Peace and Conflict Resolution at the University of Hawaii .
One possible outcome , she says @ @ @ @ @ @ @ independence will no longer be protected under freedom of speech , even though multilateral treaties overseen by the UN protect these rights as long as the activities in support of self determination are peaceful .
Another change could affect upcoming elections in the autumn .
Individuals who don ’ t support the national security law once it ’ s enacted could be barred from running as candidates for the Legislative Council in September , according to one rumor .
Others believe the new law will ultimately diminish the right to protest , leaving @ @ @ @ @ @ @ from other mainland cities .
Fears that the new law could dole out harsh punishments for illegal gatherings , even retroactively , could explain the relatively muted response from democratic groups in recent weeks .
Since the bill was announced there have been no large scale protests across the city , although some of that can be explained by social distancing restrictions related to the coronavirus crisis .
A current ban on public gatherings of more than 50 people is due to expire on July 1 .
However , Ronny Tong , an @ @ @ @ @ @ @ the worries about the erosion of freedoms are overblown .
Tong says Beijing is eager to tamp down some of the violent street protests over the past 12 months , but adds that mainland authorities are “ more concerned about the call for independence , the call for the liberation of the Hong Kong people – and the waving of the US flag ” ( photo by Chris Oliver ) : Hong Kong ’ s leader Ms Lam has also sought to assure locals that the new security law won ’ t undermine @ @ @ @ @ @ @ autonomy , adding that it will also bolster business confidence in the city .
However , for many western companies , navigating the political reality on the ground can be more complex .
A case in point is HSBC .
The London headquartered bank was keeping a low profile until former Hong Kong leader Leung Chun-ying wrote in a Facebook post in early June : “ It has been more than a week and HSBC has not yet expressed its position on the national security law.
” Leung also called upon senior Hong @ @ @ @ @ @ @ their accounts at the bank .
HSBC later published a social media post on WeChat , China ’ s version of Twitter , saying the bank ’ s Asia-Pacific CEO Peter Wong had added his name to a petition in support of the proposed law .
Senior staff said management at the bank had little choice but to kowtow , describing the less than subtle hints as “ white terror , ” according to local reports .
In voicing its support , HSBC joins a list of the city ’ s biggest companies @ @ @ @ @ @ @ backing to the new law .
Overall , in the past decades , things have gone pretty smoothly with China as the sovereign overseeing Hong Kong under the “ one country two systems ” approach .
As we move into the final weekend before the 23 anniversary of the handover , the future seems as precarious and uncertain as it did back in 1997 .
Just what ’ s written in that mystery text will be a giant tell about what lies ahead .
By Chris Oliver , for WOLF STREET .

Sense of Foreboding in Hong Kong. Beijing’s black-box approach doesn’t bode well for local freedoms.
By Chris Oliver, Hong Kong, former business editor at SCMP. For WOLF STREET:
Hongkongers woke earlier this week to a timeline for a new national security law written in Beijing that sets out a handful of days before the legislation is passed. The troubling thing is that few know what’s actually inside the new law.
The controversial bill – widely regarded as already fixed in stone – is expected to be completed during the three-day session of the National People’s Congress Standing Committee which gets underway on Sunday, according to local newspaper reports citing mainland sources. One theory is that the bill will be passed on Tuesday, June 30, the eve of the 23rd anniversary of the handover that ended 156 years of British colonial rule. When the law will be enacted is not known, but sometime during either July or August looks likely (photo by Chris Oliver).
If the new law is passed next week as expected, it would mark about a month since its unveiling in late May – a blistering pace for a national law, especially one affecting Hong Kong, a city known for its low crime rate and social stability.
Hongkongers can be forgiven for feeling a sense of foreboding, thanks to the Kafkaesque manner in which the new law is taking shape. Few in the city have seen a copy of the bill drafted in Beijing, not even Hong Kong’s leader Carrie Lam, or the Secretary for Justice Teresa Cheng, although both have urged the city’s 7.45 million residents to support it.
In the five weeks since Beijing’s announcement, Ms Lam and her fellow cabinet members have been scrambling to spin the proposed law in a positive light, saying it will help to restore stability after a year of political unrest. Large outdoor billboards with messages of support for the proposed law have also popped up around the city.
In spite of the PR campaign, Beijing looks set to keep the full contents of the bill under wraps until it has passed. One mainland legal scholar says the lack of consultation could mean that Beijing is running afoul of its own legal code that requires the government to seek public input on important legislation.
Another risk: Steamrolling the new law without consultation could derail Beijing’s attempts to bolster a sense of national pride among Hong Kong residents.
“Without this [national security law] being seen and soliciting comment, especially among dissenting voices, you are going to have difficulty implementing the law. You are going to lack credibility,” Bing Ling, associate director, Centre for Asian and Pacific Law, Law School of University of Sydney told RTHK.
Beijing’s push for the national security law comes roughly a year after Hong Kong was rocked by mass demonstrations against a proposed extradition treaty that would have allowed the exchange of suspected criminals with the mainland (none exists currently). The legislation, put forward by Hong Kong’s administration, was eventually withdrawn.
Notwithstanding, the national security law is moving ahead at a turbo-charged clip, even as questions about its contents linger. Underscoring the degree of secrecy, Hong Kong-based delegates to China’s upper law-making body were reportedly able to see a hard copy earlier this week, but had to hand it back, presumably before they could take photos with their smartphones.
The new law will define crimes involving secession and subversion. One section warns against collusion with foreign or external forces to endanger national security, according to a Xinhua news report. This could make it a crime if, say, local politicians or labor leaders were to meet with visiting counterparts in Hong Kong, or while traveling abroad.
Question marks also remain over procedures and administration. These include whether Hong Kong courts will handle the prosecutions, what judges will be deemed qualified to preside over the cases and how will the local police force (or mainland security agents) investigate the crimes? (For a summary of the law and its impacts visit the NPC Observer)
We are primarily funded by readers. Please subscribe and donate to support us!
Legal scholars say Beijing’s black-box approach doesn’t bode well for local freedoms, as existing Hong Kong law already has provisions covering rioting, assault, and grievous bodily harm.
Here is my interview of Marc Faber, of “The Gloom, Boom & Doom Report,” where he shares his outlook for the Hong Kong economy and global markets.
“If there is something missing in the law that’s going to be filled next week, it has to be a prohibition on certain peaceful acts,” said Carole Peterson, professor of law and graduate chair, Matsunaga Institute for Peace and Conflict Resolution at the University of Hawaii.
One possible outcome, she says, is that advocacy of Hong Kong independence will no longer be protected under freedom of speech, even though multilateral treaties overseen by the UN protect these rights as long as the activities in support of self determination are peaceful.
Another change could affect upcoming elections in the autumn. Individuals who don’t support the national security law once it’s enacted could be barred from running as candidates for the Legislative Council in September, according to one rumor.
Others believe the new law will ultimately diminish the right to protest, leaving Hong Kong with little to differentiate itself from other mainland cities.
Fears that the new law could dole out harsh punishments for illegal gatherings, even retroactively, could explain the relatively muted response from democratic groups in recent weeks. Since the bill was announced there have been no large scale protests across the city, although some of that can be explained by social distancing restrictions related to the coronavirus crisis. A current ban on public gatherings of more than 50 people is due to expire on July 1.
However, Ronny Tong, an executive councilor, believes that some of the worries about the erosion of freedoms are overblown. Tong says Beijing is eager to tamp down some of the violent street protests over the past 12 months, but adds that mainland authorities are “more concerned about the call for independence, the call for the liberation of the Hong Kong people – and the waving of the US flag” (photo by Chris Oliver):
Hong Kong’s leader Ms Lam has also sought to assure locals that the new security law won’t undermine Hong Kong’s high degree of autonomy, adding that it will also bolster business confidence in the city.
However, for many western companies, navigating the political reality on the ground can be more complex.
A case in point is HSBC. The London headquartered bank was keeping a low profile until former Hong Kong leader Leung Chun-ying wrote in a Facebook post in early June: “It has been more than a week and HSBC has not yet expressed its position on the national security law.” Leung also called upon senior Hong Kong and mainland officials to consider pulling their accounts at the bank.
HSBC later published a social media post on WeChat, China’s version of Twitter, saying the bank’s Asia-Pacific CEO Peter Wong had added his name to a petition in support of the proposed law.
Senior staff said management at the bank had little choice but to kowtow, describing the less than subtle hints as “white terror,” according to local reports. In voicing its support, HSBC joins a list of the city’s biggest companies and trading houses that have added their backing to the new law.
Overall, in the past decades, things have gone pretty smoothly with China as the sovereign overseeing Hong Kong under the “one country two systems” approach. As we move into the final weekend before the 23 anniversary of the handover, the future seems as precarious and uncertain as it did back in 1997. Just what’s written in that mystery text will be a giant tell about what lies ahead. By Chris Oliver, for WOLF STREET.