Podcasts about ior

ST rates have dropped sharply in the past few weeks, the past few days, in particular. The 4w Treasury bill now yields less than IOR, repo, even the Fed's RRP "floor." That's not all: the 3m10s spread has reinverted again. At the same time another major central bank just hit the panic button, going with a 50-bps cut only a few months after getting started. Where is this all heading? Not in Jay's direction.Eurodollar University's conversation w/Steve Van Metrehttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

Join us as as we talk about strawberries with local Elder Niioieren Patton.  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

La elección del cardenal Robert Francis Prevost como Papa León XIV marca un hito histórico: el primer pontífice con doble nacionalidad peruana y estadounidense. Este video examina cómo su llegada al Vaticano podría transformar la transparencia del Banco Vaticano, impulsar las finanzas éticas y reconfigurar el papel de la Iglesia en la economía global —desde la deuda externa latinoamericana hasta los foros climáticos de la ONU— y qué significa todo esto para tu bolsillo.Conviértete en un seguidor de este podcast: https://www.spreaker.com/podcast/el-podcast-de-marc-vidal--5231699/support.

Il Nuovo Papa Eredita Tesoro Milionario: Ecco a Quanto Ammonta!Il nuovo Papa eredita un patrimonio considerevole: tra riforme e investimenti a rischio zero, ecco cosa dovrà gestire la nuova guida della Chiesa Cattolica.#Vaticano #Papa #PatrimonioVaticano #ChiesaCattolica #FinanzaVaticana #PapaFrancesco #OboloSanPietro #ScandaliVaticani #Apsa #IOR

Si avvicina la data del Conclave fissata al 7 maggio e da cui uscirà il nome del successore di Papa Francesco. Il numero degli elettori che entreranno nella Cappella Sistina è sceso da 135 a 133, visto che due cardinali non ci saranno per motivi di salute.

Join the Kahnawake Tourism Office in this month's episode of the Kwakaratón:ni Podcast!  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

En este vídeo analizamos el impacto económico del pontificado de Francisco, desde su rotunda denuncia al capitalismo desregulado (“esta economía mata”) hasta la creación de la Secretaría para la Economía y el cierre de miles de cuentas irregulares en el IOR . Exploraremos sus propuestas de ingreso básico universal, condonación de deudas y ecología integral (Laudato Si') como ejes de una “economía del bien común”. Finalmente, evaluaremos hasta qué punto estas reformas moldearon no solo al Vaticano, sino también al debate global sobre justicia social y transparencia financiera.Conviértete en un seguidor de este podcast: https://www.spreaker.com/podcast/el-podcast-de-marc-vidal--5231699/support.

PUNTATA SPECIALE Sky Crime ospita il primo episodio della serie "Il banchiere di Dio". Londra, 18 giugno 1982. Sotto il Ponte dei Frati Neri viene trovato il cadavere di un uomo impiccato. È Roberto Calvi, ex presidente del Banco Ambrosiano. Suicidio o omicidio? Quali segreti si nascondono dietro la sua morte? Questa non è solo la storia della fine di uno dei banchieri più potenti d'Europa, ma un'indagine nelle pieghe di un sistema in cui il Banco Ambrosiano, lo IOR, la loggia P2, la mafia e i servizi segreti si muovono nell'ombra, tra Roma, Londra e il Vaticano. "Il Banchiere di Dio" è una produzione originale Vois, basata sul podcast God's Banker di Crooked Media e Campside Media. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kendall Berg dives into why the hiring process is fundamentally broken—with first-time founder Ior Oliveiros offering a bold fix. As the founder of Acasa IO, Ior is on a mission to dismantle the outdated, resume-obsessed systems that keep qualified candidates (especially immigrants) locked out of meaningful work. Kendall and Ior talk about how hiring still takes 4-6 weeks for every role, why cultural fit and transparency are make-or-break, and how Acasa IO is betting on application cards and matching algorithms to change everything. Ior shares the honest reality of shifting from corporate to startup life—including the emotional rollercoaster of launching a company with no capital, the chaos of early team dynamics, and why building culture is harder than writing code. He explains how Acasa IO eliminates traditional resumes, empowers users to schedule their own interviews, and adds a public review system for accountability on both sides. Think LinkedIn meets Tinder—with a dash of radical honesty. In this episode, we discuss: Why is the hiring process so slow and inefficient? What's broken about resumes—and what should replace them? How do you maintain team culture as a first-time founder? What's the best way to validate your startup idea before launching? How can small companies compete with big brands when hiring?

Våra tidigare avsnitt om känsloreglering har handlat om tankestrategier, i veckans avsnitt fokuserar vi på olika kraftfulla sätt att påverka sitt känsloläge och lugna sig själv med hjälp av kroppen. Vilket är Björns allra bästa trick för att snabbt komma ned i varv? Och vilken absolut nödvändig grej tycker Lina att Björn har glömt bort? Ett måste-avsnitt om vi får säga det själva. Klipp: 12:21 She-Hulk- Attorney at Law (2022)20:23 Healthy mind, healthy body, the Chinese way - euronews36:28 Ior45:14 Ola Love Is BlindRedigering: Peter Malmqvist.Kontakta oss på dummamanniskor@gmail.com. Vill du slippa reklamen? Prenumerera på Dumma Människor för 19 kr/månaden (ink moms). https://plus.acast.com/s/dummamanniskor. Hosted on Acast. See acast.com/privacy for more information.

Robert Perry is one of the most prolific, sucessful, and iconic sailboat designers of the modern age. He is known for designing the Valiant 40, Tayana 37, Tashiba 36, Baba 35, and many many more. His knowledge of sailboats is extensive to the point of making him a national treasure.  We talk about older crusing boats ideal for beginning cruisiers, ie: good boats for beginning offshore sailors, CCA and IOR rules, design elements, the Dufour Arpege, selling my first boat, John Vigor's book "20 Small Sailboats to Take You Anywhere," Alberg sailboats, chainplates, Albin Vega 27, small boats vs big boats, Contessa sailboats, Cape Dory sailboats, Pearson Triton, Allied Seawind, Southern Cross sailboats, foam-cored hulls, Westsail 32, the birth of recreational offshore cruising, the Mini Globe Race, sailboat statistics and ratios like sail area to displacement and ballast to displacement, different ballast types, overhangs, interiors, modern production offshore boats, the Carbon Cutter, consulting, the Norseman 447, hard dodgers, andmore.

In this episode, our hosts talk about New Years Resolutions in season four of the Beading Table!  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

"Ce qu'on te reproche, cultive-le" : une invitation de Jean Cocteau à embrasser pleinement votre singularité.Oliver Michael - Awake © artlist.ioRéalisation : Leslie Rijmenams Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

In questo episodio di Tin, Mary unisce insieme svastiche, cavalli con i raggi laser, rettiliani ed basi segrete tutto in un unico luogo, mentre Winni riesce a finire un colossal chiamato "come farsi nemici potenti cercando di diventare famoso"Se vuoi farci delle domande o parlare con noi, scrivici su Instagram, per mail oppure entra nel nostro canale Discord.Instagram: https://instagram.com/tango_in_nero_podcast?igshid=OGQ5ZDc2ODk2ZA==Discord: https://discord.gg/2aaQNzQEyUMail: icontroversipodcast@gmail.comLo sai che Winni ha aperto il suo canale Twitch? lo vuoi vederlo infartare su giochi horror? Vai anche tu a vedere questo leone cane fifone!https://www.twitch.tv/winninotin

Join hosts Adrienne Zachary and Brent Beresford as they continue to explore the somatic healing journey. They are joined by guest Kariwentha Lee Scott, who shares perspectives on her own journey and the ways that she accompanies others in their healing journeys. Adrienne Zachary is a Kahnawake community member and prevention worker at KSCS. Brent Beresford is a somatic-humanistic psychologist and mindfulness teacher at KSCS. This is the second of a limited series podcast exploring somatic healing. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

In questo episodio di TIN, Winni si fa degli amici potenti in un caso dalla lunghezza infinita; mentre Mary non si accontenta e va su un numero di morti leggerissimamente alto.Se vuoi farci delle domande o parlare con noi, scrivici su Instagram, per mail oppure entra nel nostro canale Discord.Instagram: https://instagram.com/tango_in_nero_podcast?igshid=OGQ5ZDc2ODk2ZA==Discord: https://discord.gg/2aaQNzQEyUMail: icontroversipodcast@gmail.comLo sai che Winni ha aperto il suo canale Twitch? lo vuoi vederlo infartare su giochi horror? Vai anche tu a vedere questo leone cane fifone!https://www.twitch.tv/winninotin

Join Adrienne Zachary and Brent Beresford as they explore their own somatic healing journeys, attempting to shed light on the ways in which somatic healing has been helpful, and why it is so important as an avenue to explore for all folks searching to heal. Adrienne Zachary is a Kahnawake community member and prevention worker at KSCS. Brent Beresford is a somatic-humanistic psychologist and mindfulness teacher at KSCS. This is the first of a limited series podcast exploring somatic healing. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber.

Join our hosts Leith and Margaret in this month's Beading Table!  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

This episode talks about the creation of the Indigenous Fashion Collective - the first, First Nations fashion show in Montreal at the Palais de Congres, during the Montreal Fashion Week. We discuss how the creators of the Collective were inspired, how the event came to be, how important it is for our Indigenous designers to stick together and how it's related to the tourism industry. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

Offerta di ESCLUSIVA NORDVPN: Vai su https://nordvpn.com/dentrolastoria per acquistare 2 anni + 4 mesi extra di NordVPN con uno sconto esclusivo + fino a 50€ di Carta Regalo per i tuoi viaggi e non solo! Il nostro canale Youtube: https://www.youtube.com/channel/UC1vziHBEp0gc9gAhR740fCw Sostieni DENTRO LA STORIA su Patreon: https://www.patreon.com/dentrolastoria Abbonati al canale: https://www.youtube.com/channel/UC1vziHBEp0gc9gAhR740fCw/join Il nostro store in Amazon: https://www.amazon.it/shop/dentrolastoria Sostienici su PayPal: https://paypal.me/infinitybeat Dentro La Storia lo trovi anche qui: https://linktr.ee/dentrolastoria Il 18 giugno 1982 veniva ritrovato a Londra, appeso in una macabra messinscena sotto il Blackfriars' Bridge, il cadavere del banchiere Roberto Calvi. Il giorno prima a Milano era morta la sua segretaria, Graziella Corrocher, precipitata dal quarto piano della banca. Quelle due scomparse violente rappresentano parte delle oscure ombre sullo IOR, l'Istituto per le Opere di Religione ossia il braccio finanziario d'investimento dello Stato Vaticano. Quella dello IOR è una storia di soldi, di pacchetti azionari, di proprietà immobiliari, di società anonime, di personaggi oscuri, di cadaveri eccellenti, di scandali che si succedono nel tempo. Una storia che ha destato sdegno e suscitato proteste e che merita di essere raccontata. Learn more about your ad choices. Visit megaphone.fm/adchoices

Paul Marcinkus è al centro di manovre finanziarie che agli inizi degli anni settanta sembrano coinvolgere molti: sindona, calvi, la mafia e alcune istituzioni. Scoppia nel 1973 la questione di 950 milioni di dollari di false obbligazioni e marcinkus viene interrogato.Vuoi approfondire? Vai alle seguenti playlist: https://www.youtube.com/playlist?list=PLjklKhxhc2tl6bd0zofbWO2qfqazZTRNS https://www.youtube.com/playlist?list=PLjklKhxhc2tkjOK66z1c0Bc5xEsSdJ7Db #italiamistero #marcinkus #vatican Italiamistero puntata 61 www.italiamistero.it: https://www.italiamistero.it/ Vuoi indicizzare i tuoi video : https://www.tubebuddy.com/italiamistero 00:00 Introduzione 02:08 Presidente dello Ior 11:22 Sindona e Calvi www.italiamistero.it: https://www.italiamistero.it/

Paul Casimir Marcinkus nel 1969 viene messo a capo dello Ior, la banca del Vaticano, senza averne i requisiti. Perché? Una domanda per la cui risposta occorre guardare alla vita di questo discusso monsignore, dai sobborghi di Chicago fino alle Bahamas. Incontreremo personaggi come Calvi, Sindona, Montini, David Kennedy, Nixon.... Paul MarcinkusVuoi approfondire? Vai alle seguenti playlist: #italiamistero #marcinkus #paulmarcinkus Italiamistero puntata 53 www.italiamistero.it: https://www.italiamistero.it/ Vuoi indicizzare i tuoi video : https://www.tubebuddy.com/italiamistero 00:00 Bahamas 02:35 L'incontro col Papa 05:47 David Kennedy e lo Ior 11:24 Sindona www.italiamistero.it: https://www.italiamistero.it/

Was the true identity of Colin Farrell's lead character revealed? IOr another twist coming in APPLE TV+'s noir nail-biter, SUGAR? Episode 6 of Mase & Sue's Watch Along Series brings Alex Hernandez into the fold to discuss his role as David Siegel's henchman and keen perspective on the show. We talk about the artistic intercutting of the classic film NIGHT OF THE HUNTER, his path to being cast, what plot points he was privy to, the clues we've been fed, the tropes subverted, Los Angeles as a character, the cinematic handheld camera freedom, and how the mystery of how the Siegel's play into the "alien" mission.  

Animatören Lars-Arne Hult träder fram ur skuggorna och redogör för ett digert cv. Namn som flimrar förbi: Beatles, Jackson 5, Simpsons, Ior, Big Bengt Erlandsson, Daffy Duck,Ingvar Oldsberg, Mumintrollet, Per Åhlin, Fem myror och Olle Hellbom. Bland andra och med flera. Tack till Adam Boklund för tips och research. Lyssna på alla avsnitt i Sveriges Radio Play.

Our hosts Tekaronhiahkwa and Leith play catch up after missing last month's episode and they talk about taking order during graduation season, and they also discussed their thoughts on non-Onkwehón:we drawing and selling our designs.   The Iorì:wase Podcast Channel in brought to you by First Nations Fiber.

The latest episode of the Instrumentals of Rock Podcast is up and ready to listen to.  Link in Bio. In the latest IOR podcast I interviewed Harry Weinger, a veteran of the entertainment industry who is currently Vice President of A&R for Universal Music Enterprises, the catalog division of Universal Music Group. Harry has produced and/or managed hundreds of releases, winning two Grammy® Awards and many other honors for his work.  We discussed his unique job in the music business and in particular two releases he was a part of, Marvin Gaye's Funky Nation, The Detroit Instrumentals and James Brown Soul Pride, The Instrumentals 1960-1969. Enjoy!#harryweinger#jamesbrown#marvingaye#sixtiesinstrumentals#instrumetalfunk#iorpodcast#iorock#instrumetalrockmusic#instrumentalmusic#boxsets#soulpride#funkynation#universalmusicgroup#thepopcorn#thechicken#mashpotatoesSupport the Show.

In this episode of Kwakaratón:ni, our hosts Greg Horn and Kimberly Cross Zacharie discuss the Riverside Musical Project with local artist Owisokon Lahache.  The Iorì:wase Podcast Channel is brought to you in by First Nations Fiber.

China's comprehensive research and survey vessel, the Xiang Yang Hong 03, is expected to make a port call in Malé, Maldives, sometime soon. The vessel's dual-use capabilities, and the potential of the research collected to be used for military purposes by China, have sparked concerns in India and other littoral states in the IOR. In this episode, Amit Kumar and Anushka Saxena discuss details of the Xiang Yang Hong's military potential, with the larger geopolitical context of the India-China-Maldives relations in mind. Do check out Takshashila's public policy courses: https://school.takshashila.org.in/courses We are @‌IVMPodcasts on Facebook, Twitter, & Instagram. https://twitter.com/IVMPodcasts https://www.instagram.com/ivmpodcasts/?hl=en https://www.facebook.com/ivmpodcasts/ You can check out our website at https://shows.ivmpodcasts.com/featured Follow the show across platforms: Spotify, Google Podcasts, Apple Podcasts, JioSaavn, Gaana, Amazon Music Do share the word with your folks  See omnystudio.com/listener for privacy information.

Leith and Margaret start out season three of the Beading Table by  welcoming Merit Cross and Takwenhawi Diabo -two outstanding Kahnawa'kehro:ron beadwork artist. Listen while we share laughs, talk about our various beadwork practices and look towards our creative goals for 2024. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

Throwback Thursday!  I met Neil Zaza back in 1996 during the IOR radio days.  We met in 1996 on the floor of the Anaheim Convention Center for the annual NAMM show. Episode #5 is audio only from that interview. #neilzaza#iorock#instrumentals#instrumentalrock#iorpodcast#shredguitar#onedarknight#NAMM   Support the Show.

I met Neil Zaza back in 1996 during the IOR radio days.  On the last day in November of 2023, I spoke with Neil to see what he has planned for 2024 and talk about how his career path has allowed him to play guitar for a living.  Support the Show.

This week on Meatheads, Derek and Marc discuss post-holiday training, their favorite cheat snacks and what they're looking for in 2024.   The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

Join our hosts Leith and Margaret in this month's episode of The Beading Table.    The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

KCI Kindled: Creating space for meaningful conversation Men's Health Series: Episode 4 “The story of the Peacemaker, and it's influence.”    In collaboration with KSCS Kahnawà:ke, join host, Karina Peterson, and guests, Codey Martin, Tom Dearhouse, and Brent Beresford, for an in-depth discussion on the lessons learned from the story of the Peacemaker, and how men apply those lessons to life now. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

Join our hosts Leith and Margaret in this month's episode of The Beading Table.  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber.

THE VATICAN ARCHIVES 1. The Chief Exorcist of the Vatican Performed 100,000+ Exorcisms Although exorcism is believed to be a practice only seen in horror movies and is the Middle Ages, the practice continues to be alive in the Catholic Church. Father Gabriele Amorth is a late Priest and served as the chief exorcist of the Vatican. He served for 60 years, and is believed to have performed approximately 160,000 exorcisms. The exorcism rite, however, is not just limited to the late chief exorcist. It has been performed by various Popes over the years. In 2018, BBC reported that the Vatican welcomed 250 priests from across the world to an annual workshop. 2. The Vatican Helped Nazi War Criminals Escape the Allied Forces After the victory of the Allied Forces in Germany to end World War II, the Nazis were forced to seek refuge outside Europe. Thousands of Nazis managed to escape to South American countries, specifically Argentina, Chile, and Brazil. Harvard researcher Gerald Steinacher wrote a book that shows travel documents pointing to the Vatican having helped the Nazis travel to these countries. Steinacher argues that it was done with the hope of reviving European Christianity and fear of the growing influence of the Soviet Union. The Vatican, however, has refused to comment on these claims. 3. The Vatican Made Money from the Holocaust In addition to aiding the escape of thousands of Nazis from Europe, the Vatican was also involved in helping smuggle Nazi looted art, golf, and other property belonging to Jewish families.  Gerald Posner, an American journalist, says that Bernardino Nogara, the financial advisor to the Vatican is believed to have been one of Nazi spies. He is believed to have instituted a horrifying scheme that allowed the Vatican to invest money in Italian insurance companies that kept the assets from the life insurance plans of the murdered Jewish families. Since the Vatican was an investor and not a direct insurer, they did not need to return any of the money made using the scheme. 4. Scandals of the Vatican Bank The Vatican Bank, also called the Institute for the Works of Religion (IOR) has been involved in numerous scandals.  The most controversial is their dealing with Hitler. Gerald Posner, a historian, points out that the Vatican received Church Tax from Hitler every year.  A substantial amount of money was paid to the IOR, so that it cannot be tracked by western banks. The IOR was used to store billions of dollars, the details of which have never been publicly revealed. 5. Vatileaks A book named ‘His Holiness' was released in 2012, which is based on the leaked secret papers of Pope Benedict. The private documents were leaked by Benedict XVI's own butler to the author, Gianluigi Nuzzi. After reviewing these documents, an internal investigation was held. The investigation revealed that individuals who were not from the Vaitcan were blackmailing gay bishops since they had broken their celibacy vows. Pope Benedict CVI went on to resign from the Papacy in 2013 due to this scandal.  6. The Apostolic Penitentiary The Apostolic Penitentiary is a secret tribunal that investigates so-called ‘heinous' crimes of individuals. It was supposedly found in 1179, and was kept secret until 2009. Only the pope can grant absolution to people brought to this tribunal. Examples of sins include attempting to assassinate the pope, a priest exposing the sin or identity of a person who has confessed to them, and so on. The pope acts as the head of this tribunal, and is called the Major Penitentiary, and can either offer absolution, or let the automatic excommunication stand.  7. Dead Man on Trial In 897 AD, the Catholic Church put a dead man on trial. Known as the 'Cadaver Synod,' the posthumous trial of Pope Formosus was held by Pope Stephen VI, his successor. Formosus was accused of usurping the papacy,  despite being dead for 7 months by that point. The body of the pope was exhumed, dressed in ecclesiastical attire, and brought to the papal court for judgment. A deacon was even appointed to speak on the dead Pope's behalf. He was found guilty; all his acts as pope was declared null and void; his body was stripped off the garments and dressed in rags; his three fingers of benediction were cut off and his body was cast into River Tiber, where ancient Romans disposed off their infamous criminals for centuries.   Conspiracy Theories About the Vatican's Secret Archives 1. Jesus Does Not Exist There are reports that the Archives contain communication between Emperor Nero and Saint Paul regarding the existence of Jesus. Some clergy believe that the Vatican is hiding proof that Jesus Christ did not exist.  2. Evidence of Extraterrestrial Life Rumors suggest that the Vatican holds proof of the existence of extraterrestrial life, in the form of extraterrestrial skulls. Some sources say that the Archives contain proof that the pope is conspiring extraterrestrial beings to implant everyone on Earth with computer chips.  3. Three Secrets of Fatima The controversial Third Secret of Fatima is believed to be a secret document hidden within the Archives. In 1917, three children from Portugal received prophecies, one of which was witnessed by thousands of people. The supposed suppression of this Third Secret fueled rumors that its contents were regarding a nuclear holocaust, natural disaster, and so on. The release of the contents of this Secret in 2000 did not do much to quell speculation.  4. Home to the Largest Collection of Pornography Some conspiracy theorists believe that the Vatican Archives contain the largest collection of pornography in the world. Copenhagen's Museum of Erotica confirms these speculations, in addition to writings by National Review founder William Buckley Jr, and scholar Camilla Paglia.  5. They are Controlled by the Illuminati Some people believe that despite their dissolution in the medieval times, the Illuminati has solely built itself up, with its members placed in some of the most powerful positions across the world. One such powerful office is the Vatican, where many of its prominent members are believed to be part of the Illuminati.  6. It is Home to a Time Machine Believed to have been built by an Italian scientist and priest, Father Pellegrino Maria Ernetti, the Chronovisor is a device that apparently allows people to view the future and past. Although there is no record of such a device, some people believe it is hidden somewhere in the Archives.

IOR is a small, innovative Australian family owned and operated business with a diverse range of services in the ‘fuels' industry. This episode focuses on supporting drivers who deliver fuel to remotely operated 24-hour diesel stops that service remote areas of Australia. While the business is high tech the learning and performance support approach is a fit-for-purpose mix of digital, offline and human connection – with a philosophy of Just In Time rather than Just In Case. Host: Michelle Ockers Transcript and related resources: https://learninguncut.global/podcast/136/  Podcast information and more episodes: https://learninguncut.global/podcast/

In this episode of Kwakaratón:ni, host Greg Horn discusses the new Kahnawake Cultural Arts Center with Kimberly Cross Zacharie, Lisa Phillips and Kevin John Saylor. The Iorì:wase Podcast Channel is brought to you by First Nations Fiber. 

Men's Health Series: Episode 2 “Men's paths: tradition to modernity"     The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

End of Hamas Will Mean New Geopolitical Reality I2U2, Quad, AUKUS, IOR, Indo..

Welcome to the Adams Archive, where we slice through the noise to bring you the unvarnished truth. In today's rollercoaster of an episode, we tackle a CIA whistleblower's shocking claim that analysts were financially incentivized to bury evidence supporting COVID's lab origin. Then, we dig into the dark cloud hovering over Russell Brand as allegations and YouTube demonetization tarnish his reputation. We also unveil the controversial denouncement of Tim Ballard by none other than the Mormon Church. And if you think that's where it stops, stick around. We dive into Mexican doctors' extraordinary findings on alleged alien corpses and explore the lingering mysteries surrounding the disappearance of Malaysia Air 370. Don't be another cog in the misinformation machine—hit subscribe and leave a five-star review to help us expose the truth that mainstream media often chooses to ignore. Head over to austinadams.substack.com for exclusive content and updates. Buckle up; it's time to challenge the status quo!   All links: https://linktr.ee/theaustinjadams Substack: https://austinadams.substack.com ----more---- Full transcription    Adams Archive. Hello, you beautiful people and welcome to the Adams Archive. My name is Austin Adams and thank you so much for listening today. On today's episode, we are going to dive deep into some wild situations. The first one being that the CIA has whistleblower come out and said that the CIA was actually paying off It's analysts to bury the findings that COVID was a lab leak, literally giving. Their own analysts, financial incentives to switch their opinions on whether or not that was the case. So we read about that, then we will discuss Russell Brand, who is in the news for some not so good things. Some reports coming out and accusations regarding some sexual assault allegations and potentially even worse, he was actually had his YouTube channel suspended or D demonetized today. So we'll discuss. That as a result. And then going a little bit deeper into that, we're going to look at the Mormon Church actually denouncing Tim Ballard. Tim Ballard being the once founder of Operation Underground Railroad. Also the person who is depicted in the movie, the Sound of Freedom, which we've talked about at length here before. So we'll look at what these allegations are, why they denounced him, and. Tim Ballard had a response to this that he did a video on this guy with his PRs is pretty, pretty wild stuff. So we'll look at that. After that, we'll look at a Texas church talking about churches Texas church, which is experimenting with AI generated services using chat GPT for worship sermon and original songs. That is one of the most dystopian things that I've ever heard. So, we'll discuss that. Now, again, as always, the longer you stay with me, the deeper we get. So, after that, we'll discuss the findings of the Mexican doctors who concluded after their tests were done on the alleged non human alien Corpses. So we have their findings on that. So if you don't know, we haven't talked about this yet here because we had a little bit of a layoff over the last couple of weeks for several reasons. But what happened was Mexico had a congressional hearing where there was two alleged alien bodies, which were shown at the congressional hearing. And they look every bit of ET that you could imagine. So what ended up happening is these Mexican doctors actually did a, some tests on these bodies and we'll see, I haven't read this yet, so we'll see what they actually found. And then, last but not least, this is a story that has been surfacing. Pretty consistently somewhat recently regarding, if you recall, Malaysia Air, I believe it was Malaysia Air 370. That was a airplane which had gotten lost, you know, we go all the way back to 2000 and, let's see. This was filmed in 2014, yeah, lost in 2014, I believe. Now there's some really big deep dives that some people did into this situation. And they came up with some pretty wild stuff. And we'll discuss it all. But first, I need you to head over to the substack Austin Adams dot substack calm, go ahead and get signed up. If there's any news, if there's any podcast companions, articles that I write, all of it is there for free, head over there right now, Austin Adams dot substack calm, then I need you to hit that subscribe button. All right, hit that subscribe button. If it's your first time here, if it is not your first time here, Or if it is, go ahead and leave a five star review. Just helps me get up in the rankings. It's really one of the only ways that you can show your appreciation for my hard work here. So go ahead, leave a five star review, hit the subscribe button, head over to austinadams. substack. com. And let's jump into it. The Adams archive. All right. The very first thing that we're going to discuss today is going to be that the CIA had a whistleblower come out and say that the CIA was paying off its own analysts to bury the findings that COVID was a lab leak from Wuhan. China. So let's read this article. It comes from the New York Post and it says, the Central Intelligence Agency offered to pay off analysts in order to bury their findings. That Covid most likely was from a lab in Wuhan China. A new whistleblower testimony to Congress alleges, and this goes on to say that a senior. Level CIA officer told house committee leaders that his agency tried to pay off six analysts who found that SARS COVID 2 likely originated in a Wuhan lab. And if they changed their position and said that this, the virus jumped from animals to humans, according to a letter sent Tuesday to CIA director, William Burns. Select committee on the coronavirus pandemic chairman, Brad one strap and. Permanent Select Committee on Intelligence Chairman Mike Turner requested all the documents, communications, and pay info from the CIA's COVID Discovery Team by September 26th. So they're actually going to be doing further investigation into this, thankfully, and that will be in just about a week's time. So we'll have to see what comes up from that. According to the whistleblower, at the end of its review, six of the seven members of the team believed the intelligence and science were sufficient to make a low confidence assessment that COVID 19 originated from a laboratory in Wuhan, China. The house. Panel chairman wrote. That's crazy. Six out of the seven people on this specific team believed that the virus came from a lab leak, and the CIA wanted to hush every one of them, and they tried to do so by incentivizing them, allegedly, With money. So now they're pulling all of those financial hearings. Now we actually have the document from Congress which says. Which is comes from the Honorable William J. Burns says to select to Director Burns to the Select Committee of the Coronavirus pandemic and the House Permanent Select Committee on Intelligence together. The committees have received new and concerning whistleblower testimony regarding the agency's investigation into the origins of COVID 19. A multi decade, senior level, current agency officer has come forward to provide information to the committees regarding the agency's analysis into the origins of COVID 19. According to the whistleblower, the agency assigned seven officers to a COVID discovery team. The team consisted of multidisciplinary and experienced officers with significant scientific expertise. According to the whistleblower, at the... End of its review, six of the seven members of the team believed that the intelligence and science were severe sufficient to make a low confidence assessment that COVID 19 originated from a laboratory in Wuhan, China. The seventh member of the team who also happened to be the most senior was the lone officer to believe that COVID 19 originated through zoonosis. The whistleblower further contends that to come to the eventual public contends that to come to the eventual public determination of uncertainty, the other six members were given a sufficient or significant monetary incentive to change their position. These allegations from a seemingly credible source requires the committees to conduct further oversight of how the CIA handled its internal investigations into the origins of COVID 19. To assist the committees, and again, this is What they actually wrote to Congress with their investigations. We request the following documents and information as soon as possible, but no later than September 26, 2023, all documents and communications regarding the establishment of all iterations of the COVID discovery teams. All documents and communications between or among the members of all iterations of the COVID discovery team regarding the origins of COVID 19 and all documents and communications between or among members of all iterations of the COVID discovery team and other employees or contractors of the agency regarding the origins of COVID 19all documents and communications between them or among members of all iterations. Including but not limited to the US Department of State, the Federal Bureau of Investigation, the US Department of Health and Human Services to include the National Institutes of Health and the National Institute of Allergy and Infectious Diseases and the US Department of Energy regarding the origins of Covid 19. And lastly, all documents and communications regarding the pay history to include the awarding of any type of financial or performance-based incentive financial bonuses to members of all iterations of the C Ovid 19 discovery team. The select subcommittee on the coronavirus pandemic is authorized to investigate the origins of the coronavirus pandemic, including but not limited to the federal government's funding of gain of function research and executive branch policies, deliberations, decisions, activities, and internal or external communications related to the COVID coronavirus pandemic. Whew, that's a mouthful. Further house rule. 11 Clause 2 and 1B grants committees of the House of Representatives with the authority to require by subpoena or otherwise the attendance and testimony of such witnesses in the production of such books, records, correspondence, memorandums, papers, and documents as it considers necessary should the required information not be produced in an expeditious or satisfactory manner. You should expect the committee or committees to use its additional tools and authorities to satisfy our legislative and oversight requirements. Thank you for your attention. And then signed by the chairman. Of the Permanent Select Committee on Intelligence, Mike Turner, and the Chairman of Select Subcommittee on Coronavirus Pandemic, Brad Wenstrup. Curious who this Brad Wenstrup is. Anyways. The Honorable Raul Ruiz Ranking Member. Alright, so there's your, there's your document on that. Alright so. This goes on to say that in a separate letter the House Committee leaders, and I'll go ahead and just pull this up on the screen for you guys so you can actually. Look with me here. There we go. All right. So this also goes on to say, In a separate letter, In a separate letter, the House committee leaders identified former CIA chief operating officer, Andrew McCready, Mac, Macridis, as having played a central role in the COVID investigation, and asked him to sit for a transcribed interview. At CIA, we are committed to the highest level of standards of analytic rigor, integrity, and objectivity. Of course you are, just not when it comes to assassinating Kennedys. We do not pay an analyst to reach specific conclusions. Of course we wouldn't do that. The post, in a statement, we take these allegations extremely serious and are looking into them. We will keep our congressional oversight committees appropriately informed. Hmm. Interesting, interesting to see if there's anything more from this article that we should be discussing now to the comment section, which is really what matters, which says that if they are actively covering up evidence that COVID came from gain of function research that was weaponizing a virus, then I wonder what other part they might have in all of this. It seems as if we would want to know the truth of origin if we truly want to prevent similar future. outbreaks. That's a good point, right? Why would you want to cover up the origins of this? Why would you not want to get to the bottom of what happened to prevent it from happening again in the future, unless you or somebody, you know, or somebody who's giving you money. Had any take or partook in any of it, right? Why, why, if you, if you don't have any skin in the game, if you're not somebody who's going to be held liable, if you're not concerned about anything coming back to you as an organization, or maybe as the person who ordered these things to happen, why would you be doing this? That's weird. Huh. The next person said, remember when it was the political left that challenged questions and were skeptical of the various three lettered agencies yet now the left is in unquestioning lockstep when with its former arch enemies, pretty remarkable change in the last. generation. It is pretty crazy to like you go back to the 70s, you go back to the 80s, you go back to the 90s, right? The Democratic Party, the left was primarily the hippies, not the the suit and tie wearing grandfathers that we used to think were Republicans back in the day, right? You always that's always how it was pictured for a very long time, right? That that Republicans were these stiff old white men, and The cool people, the, the artists, the this, the that, the, you know, the people who were free thinkers were the people who were on the left, right? Those were the liberals. Those were the the, the Democrats. And, and it seems like we have shifted pretty, pretty significantly to where the left just wants to be completely in line with anything and everything that daddy government says that they should be in line with. And the right questions literally everything, right? For how long were we saying that there's alien evidence, alien evidence, alien evidence? And all of a sudden, the government comes out with alien evidence, and all of a sudden, we're all questioning it, right? Just because the government actually told us that. There was no winning scenario there. But, now that that information's coming out, and it's coming from the mouth of the government, and not other institutions, which we actually trust, we're questioning that too. Because, Everything the government does has an agenda or else they wouldn't be doing it because the government is just about siphoning money from the pool of tax money that they extorted from its people, right? So once you realize that, you have to realize that there's an agenda behind everything, right? The only way for you to be successful in politics, the only way for you to get into the positions that you want to is, well, maybe a already have hundreds of billions of dollars in the bank and self fund yourself and not have to take money from lobbyists, but maybe there's only been. A handful of people like that in recent history and by handful, I mean, maybe two or three and by recent history, I mean, since 1776, but but it's, it's pretty wild to see that, you know, the left is just so in line with everything the government says, so in line with mask mandates, so in line with you know, what, what the CIA is doing with, with everything and anything that comes out from the government. They're just immediately fall in line with it, right? All of that. They are the propaganda Enforcers is the liberal far left, right and and we have to say far left Although I I tend to believe that the left is far more radical in this ideologies than the right is Even if you go to like the far right, right, the far right, being the proud boy type people the, the QAnon conspiracy theorists on, on all of the the deep channels of 4chan, right? It's like when, in order to get to that level, you're probably looking at when it, when it comes to the liberal left, right? We're talking about what, what are the extreme ideologies of the liberal left? The extreme ideologies of the liberal left is that, oh, Any single moment prior to birth, a child should be able to be killed within the womb, right? There's, there's no, there's no conversation more than until it's born, right? That's a pretty radical idea. And I would say, let's say 30 percent of Democrats agree with that idea. Okay, there's one. All right, the secondary idea being that, you know, let's let's say socialism, like true capital, not capitalism, but socialism, that, you know, everybody and anybody should have their fair share of everything, regardless of work ethic, right? Equality of outcome, right? And you might look at it, maybe not straight socialism, but equality of outcome, right? They want the top 1 percent of people to pay the top, you know, 75 percent of taxes, right? Okay, that seems like somewhat of a radical ideology. They don't want people to be able to have Guns that's a that's a pretty radical ideology. Let's just say again for argument's sake that that's 30 percent 30 percent of the radical left Believes that we shouldn't be able to own any weapons at all any weapons at all Well in 30 percent might be generous. It's probably closer like 35 40 and again, I'm just throwing shit out there, but 35% And then you go into what's another radical idea? Oh, well, maybe that your children at the age of two to three years old, four years old should be able to determine their gender, even though they were born with the chromosomes that they were born with. Okay, that's a pretty radical ideology that your child should be able to choose its own gender when it can't choose its own lunch. Because it would choose candy every day. And that's maybe closer to 60 percent of the, let's say, the radical left, or the left in general, believes that. Okay? We can probably even take that further and further and further, looking at the different ideologies. But let's say 30 60 percent of the far left ideologies Trickle into the majority almost of what the left believes right now. We, we can go to the other side of things and say, what are the radical ideologies of the radical? Right. Right. Okay. Trump's been in president for the last, or has been president during Biden's entire term, and we're just waiting on him to raise his hand and say, it was me the whole time, guys. And rip off his mask like it's Scooby-Doo You know, that's like the radical, radical, right. QAnon people. Right. And obviously, you know, QAnon's been, been has some, some merit to some of its belief systems when it comes to the the child sex trafficking rings and things like that. There's obvious merit to that. But, but when we're talking about the fact that there's going to be Trump's. In charge of the real military and he, and I think we haven't heard much whispers of that over the last year or so, but for about the first year or two for, for Joe Biden's presidency, there was a serious group of small group of extremist conservatives, extremist conservatives who were thinking that Trump was going to come back and take over and be like, ha, it was me, right? I'm still president. And, and, you know, that's, that's pretty radical, but I would say maybe Four, three, 3%, maybe less than 3% of of people right now. Another radical ideology on the right might be what? I can't, it's hard to even think of any. I dunno that you shouldn't have drag shows in front of children Like what is, what is the radical rights belief systems that the government shouldn't you know, we didn't even get the freedom of speech when it comes to the left, right? Censorship. The, the, the right might think that there should be No. No. No censorship of speech, right? That's not even radical. So it's just hard to see. It's hard to see what is the what? And I'm open to the conversation. So send me a message. Let me know what is the radical ideas of the right. And maybe maybe we can start to have the percentage conversations I just had with the left, but it's so much easier. Okay, let's just go with abortion. Right abortion. Let's say every single person believes that there should be no ability to have any abortion. And that let's call that a A radical ideology within the right. Let's just say that just for argument's sake. What percentage of people do you think That are conservatives that hold that belief that just zero abortions for any reason whatsoever, regardless of age, regardless of circumstance, regardless of medical situations, maybe, maybe 10%, maybe 5%, I would think like Uh, and primarily made up of people who are highly religious and for religious reasons, not just ideological reasons. So it's just a weird conversation, right? The far left is far more of the left than the far right being part of the right, right? The percentages of those people are just so much lower than what we see. So the craziness... That the entire left is pretty crazy in their ideology because you get thrown out of the group if you don't agree with all of it. Right? So, anyways, there's your tangent on that. Where were we? I don't think it matters. Last comment says there was no lab leak, virus developed in Georgia and released worldwide through various means with various intensities. Not natural, not an accident, U. S. military operation under the auspices of the deep state. Hmm. That's an interesting one. Now, if you go back, I did a whole episode on the what is it called? The water in the water. What was it? That guy, Peter or something did a documentary about how he believed that it was some form of snake venom that was being released to people through the water systems, right? That was a pretty, that was a crazy, crazy idea. But there's a whole documentary on it. Let's see if I can remember what it was called. Let's go. COVID, Snake, Venom, Water, Documentary. And I did a whole podcast breaking this down. So, you can go back and listen to that. Watch the water. Watch the water. That's what it was. Hmm. Yeah, I believe that was, and this guy is the guy who did it. That he interviewed. This, what's the guy's name? Here he is. Pretty sure the guy's like a chiropractor or some shit. But that's a pretty crazy one that the water, the drinking water was being poisoned with snake venom. That was a, that was a pretty wild one, but, but interesting. And I believe if you go back and actually listen to it, there was, there was some interesting arguments within that. But anyways, maybe that's what they were discussing within that comment there. But wrapping that topic up, the CIA was apparently and allegedly, according to this whistleblower, Paying people not to say that it was a lab leak. And again, you have to ask yourself why. All right? In other news, Russell Brand has been accused of sexual assault. And as a result, his YouTube channel has been immediately demonetized without any actual trial, any hearing. Right? And this is somebody's income. So... YouTube blocks Russell Brand from making money from videos on his channel over sexual assault and rape allegations. Right? Something, something that's embedded in our law is innocent until proven guilty. Right? The guy from That 70s Show that Ashton Kutcher and Mila Kunis was just basically sticking up for in a letter. Was convicted of rape by two women convicted, right? We can demonetize his YouTube. Not sure he would have access to it anyways. But do you just get to as a company? D demonetized the platform people kill their income for allegations. Now, are you playing judge and jury? And how does that play into when somebody goes to court for these things? Right? If you're if you're saying that you believe this person is guilty and also who's making these decisions at YouTube and that. Different companies like this. Anyways, let's go ahead and read this article, which says YouTube has suspended advertisements on Russell Brand's channel in light of a slew of sexual assault and rape allegations made against the comedian as clips of his former wife, Katy Perry, have resurfaced the platform suspensions for violating its policy will still allow brand to. Upload videos, of course it will, it just won't give him money, but he will not profit from advertising. Meanwhile, footage has re emerged of the moment Brand ended his relationship with US singer Perrie by text message in 2011 following their 14 month marriage. Presenter Vanessa Feltz has also shared deeply offensive footage of Brand. Asking to sleep with her and her daughters. When she appeared on his chat show in 2006 and the late comedian, Sean Locke disclosed the reason he hated brand and the clip from the panel show eight out of 10 cats in 2014, explaining he had a fear for his he had a fear his daughters would bring home a man like brand one day. I don't see how that has any merit. Brand has vehemently denied the very serious criminal allegations and said his relationships were absolutely always consensual. So let's see if we can get maybe some of these videos. No, they're just going to send us to a big page of random stuff. All right. So it goes on to say a timeline key points. YouTube suspends monetization. Big brother co creator describes brand allegations as. depressing and BBC confirms removal of brands, content, brand episodes removed from C4 website. No evidence to suggest channel four bosses knew of brands alleged assaults and review into the timeline at BBC led to by director of editorial complaints. This was three hours ago. It says that who cares? That's a silly one. It says the allegations against Russell Brand over the weekend have got people examining the age of consent. Rightly so, that a 30 year old man would embark on a sexual relationship with a schoolgirl feels instinctively wrong to many of us. The woman in question, Alice, who has said that she now feels she was groomed by Brand, though he also denied all of the allegations, has called for consent law to be reviewed in light of her experience. The law enabled it, she told reporters. For the times Saturday night, it shouldn't be legal for a 16 year old to have a relationship with a man in their thirties. Now, most of us are comfortable with the idea that a 16 year old can consent to have sex with another 16 year old, that two teenagers can have a sexual relationship, but we start to feel iffy when there's an adult in the sexual relationship with a minor, as the gap age gap increases, so does our discontent or disquiet. That's not mere hand wringing or moralizing, and it's not about. Trying to deny young people their sexuality, it's because we understand implicitly, even when we can't articulate it, that an imbalance of power can affect consent. Okay, agreed. 16 year olds and 30 year olds shouldn't be having sex. Let's see this clip. Can I have it off with either you or your daughters, the answer's no, and I'm, no. It's terribly awkward when you're a guest on somebody else's show, particularly in a theatre which is full of great fans of, of the presenter, Russell Brand, so they all loved him, they were cheering him and egging him on, and I was in this unbelievably awkward position where you don't quite know what to do. Are you meant to pretend you think it's funny and laugh along? Are you meant to stand up and walk out in high dutch and, and, and look as if you're a spoilsport and a party pooper? You know, what are you supposed to do? But I know I was deeply offended then as I remain deeply offended now. Now that woman looked about in her 40s and not very attractive at the time. And now that's not to take away the seriousness of this clip, but I don't see that there being any merit to that of people just trying to smear him. Now, now something that's come out as a revolt result of this, you know, and something that there seems to be a lot of attention on Russell Brand right now, right now, Russell Brand speaking out consistently, consistently, consistently against the deep state against George Soros against the world economic forum. So To me, it would be no surprise that there's things coming back. Now, from 20, 30, 20 years ago, 10, 15, 20 years ago, that obviously have not been litigated. There's no, nothing going through the court system. So again, I'm not saying that I don't think a 30 year old and a 16 year old should have a sexual relationship. That's creepy. It's weird. It's gross. I, I don't know if I, you know, we just had the one side of that, but he seems to say that he. didn't do any of that. Now telling a woman in her 40s during a talk show, let me have a go at you or your daughters and she's 40 and maybe your daughter's 2025 or something like, okay, it's still nothing there. You know, I would love to see, you know, and here's a, here's a good quote that came from Reddit. That's pretty popular right now. It says, All start caring whether or not Russell Brand had some questionable sex a decade or two ago when the media starts caring what Bill Gates or Prince Andrew was doing on Epstein Island. Or when it starts naming the customers Ghislaine Maxwell was convicted of supplying trafficked minors to. Right. There seems to be a lot of emphasis, right? I'll start caring about Russell brand. When you start to show that you actually care about the victims, right? That's what this is saying here. Not, not, let's not diminish if there was some allegations. Cause I haven't read enough into them to say they weren't true or they were true or whatever. Let's just say, sure. There's allegations here, but what we know 100 percent besides the fact that Russell brand had, what seems like a still. Something that has not been convicted against him. And he still hasn't even gone to court for this. That doesn't seem like there's any charges. But there has been somebody who was supplying and trafficking hundreds, if not thousands, of underage women to Prince Andrew, to Bill Clinton, to Hollywood executives, to Hollywood elites, to... Everybody in power, and everybody knew about it. Oh, and also, so did the news companies who silenced the articles to come out. Right? Everybody knew about this, but nobody said anything. And still... They're protecting the lists today, you're going to tell me you're going to tell me that they raided Epstein's Island and found nothing of merit that they're releasing to the public about who was a part of this, how they did it, about what we're doing as a result of that, you're going to tell me they raided an entire island that was used specifically for track picking and found nothing, not a Bit of evidence, not a single strand of evidence that led them to convict somebody who was on that island doing those things. Bill Gates, like I said, Prince Andrew, Bill Clinton just person after person after person. And the list, you know, we've gone into that and the whole breakdown of the black list that came out or black book that came out from Epstein. So you can go back and listen to that to see who was all a part of it. But. It's pretty crazy. And, and so this article or this, this person posted and goes on to say that I'll care what about what one former US president is or isn't guilty of. When the media starts caring about what other former US presidents are or are not guilty of. And I'll care about a more powerful country invading a less powerful country when the media reports the conflict and its context in exactly the same tone. And with the degree, same degree of neutrality versus moral outrage as it uses when there's a more powerful country in question is the U S A. Until that day, the mainstream media and everyone who repeats its talking points on social media is not, but idle gossip and the sound of one hand clapping. Until the day I could not give less fucks about what mainstream media says any person did or didn't do, so... Well, that's not what it said. It says about who the mainstream media says any fucker fucked or didn't fuck. And so fuck the mainstream media. Let anyone... It fucks with tell them to fuck the fuck off. With its farce ial fuckery. Now, the top comment on this, and I don't disagree with this, is you are allowed to care about all of those things simultaneously. Right. I don't disagree with that. It definitely seems like you should, you know, If you care about people who are the victims, you should just care about them regardless, but it doesn't seem like it's obviously not the same level of situation here. Now, in light of these things coming up here, I'm actually going to skip. We'll maybe push off the Tim Ballard one to a different episode here, because we have a little bit more to go. And I have a little bit limited amount of time here. So the next one that we're going to move to is a Texas church experiments with. AI generated service and uses chat GPT for worship sermon and original songs to praise the Lord says the church said the experiment would be a one time event. And this comes from Fox news. Now, if this isn't the most dystopian thing you've ever heard of when it comes to religion, I don't know what it is. This is just So sci fi, weird, and cult y. It says, with artificial intelligence seemingly infiltrating every facet of our lives, one church decided to experiment with the technology for one of its services last week. The Violet Crown City Church, located in Austin, held an AI generated service on Sunday, describing the experiment as uncharted territory. Yeah, because you're starting a cult with... a robot at the head of it. This, and you're, you're, you're actually the, so here's a philosophical issue with this is that you're, you're taking the person who is, let's say the, the coding behind the AI and turning that into a deity, right? You're, you're giving it infinite amounts of power over people. When somebody gives their life to a God or a deity or a religion and says, I believe in you. I trust in you. I give you my life. I give you my faith. You know, faith is a faith is a. a tricky thing, right? Faith is, is now not always blind faith, but, but faith with with a little bit of suspicion is, is healthy, right? But faith, faith is a tricky thing. And if you give that faith to something who's, who's being, can be at any single point manipulated by man. Right? You're, you're giving religious potential. You're giving deity like power to something that is man itself, right? We cannot have man worshiping man. That's the problem that we saw with science during COVID science, right? It turned into a cult, right? There's no man who should be a deity and there's no artificial intelligence that should be a deity because what does that become other than the manifestation of the programming, right? Right? So this says. This Sunday, they said, we're entering somewhat uncharted territory by letting Chachibiti create the order of worship, prayers, sermon, liturgy, and even an original song from our 10 a. m. service, the church wrote on its official Facebook page. The purpose, the purpose is to invite us to consider the nature of truth and challenge our assumptions about what, what God can make sacred and inspired. The Church acknowledged such an experiment would be easy to write off, but encouraged its members to keep an open mind. Why not attend instead of an experience for yourself, the Church said, clarifying that this would be a one time experiment and not something we'll likely do again. Yeah, I hope not. The Church assanjed any worries that Skynet, a reference to the fictional AI, I'm not sure an AI can actually express the emotions of love and kindness and empathy, Chambers said. I think that we must practice love and express that. Not only feel it, but we must. Express it. Interesting. Now the comment on this was pretty sure God was not impressed with the vanity of that service. They wanted the creator of the entire universe to interact with a machine? It's like man saying, here, listen to this thing we created. God made man so he could interact and connect with man. Not so that man could make a machine and use it as his proxy. Yes. Agreed. Right, this is, if you think there is layers to reality, one of those layers being the higher, the higher reality, right, which is, let's call it heaven or we're, we're, we're God lives, right? And the layer that we're on being a lower dimension of reality, right? You cannot create, and you cannot, when, when somebody is creating a sermon, when somebody is writing a song, when somebody is deciding on what they do or do not want to talk about, If you believe in, in the faith of, of Christian, Christianity and religion, you believe that God is speaking through that person, right? God's not going to speak through an AI chatbot that was created by some Silicon Valley, woke, purple haired, ear ringed, Weirdo, right? Earrings like there's something wrong with earrings but it's all, you know, I, I pictured like 22 earrings on their head and gate big gauges. Right? But God's not going to speak through that person or at least through the coding that they wrote. I'm sorry. Right? So, so if you believe that that is of this reality that is of this realm and it's not going to be the real thing and all that opens up is a weird it. Alien based cult. Let's get into the good stuff. Alright, so the doctors, if you go back, the doctors in Mexico actually have come out and done testing on the alien bodies that were found in Peru. Now they claim that these were almost over a thousand years old when they were found and they were found in the ruins of I believe it wasn't wreckage, but they were just found and dug up by like archaeologists. So it says Mexican doctors have found no evidence of any assembly or manipulation of the skulls of the so called non human being remains that were presented to Mexico's Congress last week. Seemingly proven the remains were not human made. The scientists conducted a number of tests on the two specimens at the Neuer Clinic on Monday and live streamed the entire procedure. Wow, that's pretty cool. In the end, Jose Zels Benitez, the director of Health Sciences Research Institute and the secretary of the Mexican Navy offices, said the studies proved the alleged aliens belonged to a single skeleton and were not assembled with human objects. He also said his team found that one was alive, was intact, Was biological and was in gestation, pointing to large lumps inside the alleged E. T. 's abdomen, which suggested could be eggs. Whoa. I can affirm that these bodies have no relation to human beings, he previously claimed. The pair, which were allegedly unearthed in Cusco, Peru in 2017, have elongated heads with three fingers on each hand. Creepy. Super creepy. Especially when you look at the pictures of this MRI. Whoa, how are these pictures not out? That's crazy. Also, I do just want to say that nobody seems to give a fuck about the fact that they just showed alien corpses on live TV and then just did an autopsy on them with MRI machines and cat scans and came out with the results. I haven't seen a single person. I found this literally randomly on the New York Post. It says, but otherwise they appear humanoid in shape with two arms and two legs. Each my son. Said that they had strong light bones and no teeth, and had implants of ca, ca, ca, ca, cadmium and osmium, which is one of the scary, scariest elements on Earth. Also, one third of their d n A is unknown. He testified claiming that beings are not part of our terrestrial evolution. These specimens are not part of our evolutionary history on earth. They're not beings recovered from a U F O crash site. Instead, they were found in diatom. Minds and subc subsequently became fossilized, which is an algae. This is the first time it is presented in such a form. And I think there is a clear demonstration that we are dealing with non human specimens. They're not related to any other species in our world, but many have expressed skepticism about the discovery. For years, academics, archaeologists and scientists said that mummified remains, that UFO enthusiasts claim or aliens are generally just modified human bodies. And there's people looking at these pictures. There's picture after picture of these skulls. Oh my gosh. Could you imagine being in this room? How wild is that? The very first comment on this said, I am partly convinced they are not human and could be extraterrestrial. However, the DNA results will tell the tale. It should be easy to send a small sample of DNA to a reputable company. In fact, why not send one of the eggs as well? If it was alive at one time, that should be. The final proof of origin. Somebody else commented back to that person and said, is anyone going to believe anything coming from Mexico? Says they performed the same tests on Biden and got the same results. Oh, pretty crazy.  All right. And last but not least on today's episode, we're going to dive into the Malaysia air three 70 conspiracy. This was posted eight days ago on conspiracy Reddit by additional underscore add 3796. And I've dabbled in this a little bit. I haven't read the whole thing, but it's pretty crazy. So this says, Hello, this is Ashton from Twitter, and I have been writing about the MH370 videos for the past month. They are real, leaked, military videos. I don't want you to believe me, I want to convince you with the facts. This isn't all of the facts, just some of the most compelling. The videos... Oldest Archive is a satellite stereoscopic video from the Regenik Dianon with an archive upload date of May 19th, 2024. The description reads, Received March 12th, 2014. Source, protected. Alright, let's go ahead and see and make sure that he doesn't have any prior posts on this that give us a... T. L. D. R. A little bit on his post. So this was, well, he replies a lot. Let's go to his posts. We're looking at an overview. All right. So the one that we had looked at was from eight days ago. Let's just see if he has any the real story of MH three 70 all pertinent evidence and theories. That was 70 or seven days ago. Facts and theories to help the investigation. And okay. So this Reddit looks like started eight days ago or 10 days ago. And it says proof the Northern coordinates are correct and facts. Hey guys, this is Ashton from Twitter. I've noticed a lot of things have gotten destroyed here. Let's see if he gives us a quick synopsis here. And he does not. So let's jump first to the one that he says is all evidence and theories. Okay. So, so my J the general consensus. Well, not general consensus because I haven't done a census, but the idea here is that the original story was, was wrong, that this is a conspiracy and that it didn't just evaporate into thin air or fall into the ocean as everybody thinks. So this says Ashton Twitterson here, many people ask for a comprehensive list. Of the evidence of the M H 370 video. So I delivered most people's immediate reaction will be that the MH 370 videos are stupid or impossible, but they line up with all the facts to date. Don't believe me or trust me, verify the evidence. The U S government made a huge mistake recording this event. There's no excuse they can use to deny it. If you want to destroy all credibility and world governments here is. Your unique opportunity. Each piece of evidence can be verified either visually in the video from works of the community or my own investigation research. If it's not on the list, I either haven't verified it or don't find it to be credibly linked to the investigation. At this time, I'm limited in images that can be used or I would add more. I only put links and sources when it's a contentious point. When the time comes, all those who contributed will be giving credit. Quick disclaimer, they said This is not Q Anon. This is not to distract from Trump or Biden. This is not an alien invasion. This is not a hoax, misinformation, or disinformation. There are ufology elements, but that does not mean it is the explanation. This is the power of the community used to tell the story of the greatest conspiracy of all time. Is this the greatest conspiracy of all time? Note, I don't want to talk to any mainstream media. They'll never tell the truth. I'll talk to any alternative media or Tucker Carlson, Bill Maher, Joe Rogan. If these three can be convinced, I believe the world can be. Interesting. All right, so let's see if we can start with the theories, because I feel like he could have written this better to give us a brief synopsis first. But essentially. Oh, so that's what that video was. Okay, so this is showing that the Malaysia Air 370 was being circled by three unidentified objects in this crazy weird orbs all surrounding it and rotating. I did see this video. And then there's a zap, which is a cold event in the thermal because this was being picked up by thermal imaging. The zap accurately illuminates the clouds in the background and the foreground. All right. So. Let's go through this full. Let's go through this full deep dive. All right. So let's just go back to the top here because now it's starting to make a little bit more sense to me. There's a video that was circulating, which was showing and I'll pull it up here for you guys. So you can watch it if you're on YouTube with me here or on rumble or on the sub stack. This is the web archived video. Okay. Now, again, this comes from 2014 back when this airliner went missing. And here's a video. That they're saying is credible evidence of the Malaysia air showing, and here's my cursor showing there's the orb. There's three orbs that fly right around it in a crazy, crazy quick way that has no, wow. And they're, they're surrounding it like almost in a symmetrical triangle, rotating back and forth and in sync. Almost completely in sync and then rotating and turning back around and all surrounding this airliner, the same airliner that went missing suddenly back in 2014 and they go faster and faster and faster and faster, see if, and then disappears, what completely disappears. So we need to verify obviously the legitimacy of this video, but a lot of people seem to think it's legit. That was crazy. Okay. So one more time at the point where it disappears, the rotating, rotating, rotating, rotating, and it's gone big flash. And the airliner is just completely gone after being surrounded by these three orbs. Now there's a second video that comes from this, and we'll see what this shows us. That was the one that I saw, I believe. It says capture airliners and UFOs, UAV. And here's the thermal imagery. Alright, so here's the aircraft flying. Now why is a UAV this close to this airliner is a better question with thermal imaging. There's an orb, one orb, two orbs. Rotating, rotating, and leaving a thermal trail behind them, which is interesting. Oh, they're perfectly circling when you see the trail around them. Whoa, that's so weird. Super weird. And let's see if it shows it disappearing. Whoa, and it's Gone, dude, if this is real, and this if this is Malaysia air and the whole time I remember this, this was like, this was as big as the Titanic submarine situation. Like all those, you know, the three billionaires, this was an entire airliner just gone, gone. And I believe there was some high profile people on this airliner. But yeah, They we were looking for this for days and days and days went by and days went by and it should have been out of fuel and maybe they they landed here and maybe they didn't and maybe we just haven't their transponder went off whatever it was if this is the airliner and this is real this is one of the craziest conspiracies ever okay Now I'm in. Now I'm in. Alright. So, we got the background now. Filmed in 2014 with technology from 2014. Spy satellite videos, presumed from USA 229 is the earliest archived source. Received March 12, 2014. 3D stereoscopic video, technically a third video, which means we need two satellites in close proximity and on the same orbital trajectory. Satellite perspective changes eight times as do the coordinates, with coordinates visible in six of them showing us the location and direction of travel, south and east. A thermal layer of MQ 1C Grey Eagle posted by Rejiknion received, I don't know what the hell that's supposed to be a name or something received June 5th of 2014. And cameras on the equipment are made. For filming these events, it says this the thermal layer on a specialized electro infrared camera on the MQ one secret Eagle matches the mission purpose for this S I B R S and S I G I N T tracking boats and planes, electronic signals, monitoring intelligence and battlefield awareness, alternate sources and higher quality exists that point to none of these users being the original source. Maybe we can see if these are the same exact videos and higher resolution, but this is two minutes long. So I wonder maybe it's, it looks slowed down a little bit. That's probably why it's two minutes. I want to see it disappear like that. Slow motion. Gone. Whoa, that's wild. Okay it's a speculation. The original source may have come from a private forum or left on the dark web to be found. Videos show coordinates in them that change, but not when the mouse moves. Videos show satellite designations presumed to be N r o l 22 due to seeing 93 and thus ruling out threes. Not sure what that's supposed to mean. Satellite vis video explained by remote terminal access mouse drift. Explained by a JPEG wheel track ball that does not have the click activated screen capture of terminal running at some resolution. 30 frames per second. Citrix remote terminal running at default on 24 frames per second. Okay, very technical. So they're trying to figure out where did this video come from because you see on the screen a mouse going back and forth on top of it over top of the video. So I think that's what they're trying to do here. Remotely navigating around a very large resolution video playing at. Eight frames per second, or is that six? Six frames per second. Okay, so they're just trying to figure out where did this video come from? Plane is making a left hand turn and descending consistent with a circle formation consistent with capabilities of a 777 to 200. Plane's altitude is low based on how close they are to the cumulus cloud formations. Okay, true. There's a heat signature near the center bottom half of the plane. Yes, also true. There's an exhaust smoke coming from the plane, which is likely too low for contrails. Three orbs approach. The plane seemingly not affected by gravity. Yeah, that's that's what I said. It was just moving. It didn't seem to follow Newton's laws. Like it's just moving around in a way that our aircraft absolutely could not. Does the orbs have cold trails that are in front of the orb leading the orb? Yes. Saw that. Speculation. Orbs may be changing the pressure of the atmosphere or absorbing energy from it. Orbs entered a lock formation and begin a pattern and change patterns. Wow, they really broke down this pattern this way the way that they were rotating. Very interesting. And the two of them almost intersect and then change their formation and then go perfectly in sync. Perfectly in sync. It says the orb's pattern encircles the plane over time. The orbs may not be visible to the human eye. Both cameras are infrared. Huh, interesting. A zap occurs as the orbs bend and move towards the plane. The zap is a cold event in the thermal, and the zap accurately illuminates the clouds in the background and the foreground. Huh. So was this at night? The plane completely disappears after the zap, including the plane's visible trail. The MQ 1C is cropped out of the satellite video, just out of view. The user closes the window after the plane disappears, indicating this was not recorded in real time. It requires knowledge of classified military systems. Person who recorded or leaked these videos is likely in prison. How would a hoaxer know? They would never find a plane. Why this is M H three 70. Okay. Good question. How do we know that this is the plane, right? Is this says that it's the only missing seven 77. There was no debris field found official flight path. Has it running out of gas? Because there's nowhere else for it to go and the official search searched everywhere along the final ping art and along the flight path even the Nicobar Islands area, right? So the perfectly along this flight path perfectly around the time that it was flying and it's the exact aircraft type says the thermal matches the exact silhouette of a 777. Okay, yep, which is overlaid at the top of this image here. The color tone matches that of Malaysia Airlines. And satellite coordinates put it on the flight path of MH370 around... 640 Nicobar Islands, which is the smoking gun. Note, this is the suspected location of the turn into the South Indian Ocean. It has an imagery around that. It says NROL 22, released in 2006, is presumed to be a relay satellite due to its molnia. Orbit and clear view of the satellite that took the video, the smoking gun USA two 29 at the right location. Time apparent angle with a sister debris satellite capable of taking stereoscopic video at six 40 UTC. So it's just verifying that there was something in this location at that time that could have taken this video and says propose of. Signal intelligence and space based infrared systems is to track airplanes like this. Interesting, it shows a Lockheed Martin space based infrared system. And then it says the U. S. military had to have tracked MH370. We've proven they had the satellites in the area. US military confirmed the provided data to the intelligence community to help solve the mystery of MH370 and the freedom of information act about the DSP detection of the impact of 370 was ignored. Goes on to show the flight path. The pilot says good night. MH370 at 5 19 UTC at 17 21. 521 UTC MH370 disappears from all civilian radar due to both 8S, B and A cars being shut off. Captain Blelly suggests whoever was in command of the aircraft had intentionally achieved this by disconnecting all four electronic Electrical generators and APU. The radar says the plane makes impossible altitude changes from 5, 000 feet to 55, 000 feet. The radar loses the plane, but tracks an object they believed to be the plane as the satellite system resets three minutes and a log on request happens around 1724 plane changes directions. When the plane gets over Penang, the copilot cell phone pings, huh? The last Malaysian. Radar in between 1815 and 1822, 200 miles West by Northwest of Penang. Hmm. Very interesting. So it's showing basically the flight logs and the the pings of information that was being sent out from it. It says the witness interesting. So it's showing her blog post, Catherine T. It says the reported facts, their timing, and their identified geometrical relative position provided by Miss T are coherent, providing confidence in her reporting. So let's see this blog post while that's loading. She says, I thought it was coming to land. I felt it was traveling slowly. The aircraft was probably flying in L2 between 2000 and 100, 000 feet, held same tack for five minutes. The aircraft had considerably descended. from the first or from the first second of observation until the accidental change of tack. I saw that what looked like black smoke behind the orange glow, which resembled a contrail, but black, but I couldn't see any fire flames or anything like that. I just saw a plane glowing orange. Whoa. This comes from chat GPT, which has gases in the atmosphere, particularly oxygen. Nitrogen can glow orange under influence of electromagnetic effects, ionization, and other electron or energetic processes. The Aurors are a prime example of a phenomenon. Interesting. Says the glowing plane did not have any navigation lights. Alright, as it moved behind the boat, I could see the shape very clearly, which was a passenger plane. Here is the blog post. Which, quite lengthy. But maybe we'll have to send that out in the sub stack. Hmm. Interesting. So this woman says that she saw Malaysia Air right around the time that it disappeared. And wrote a blog post about it. It says other pertinent information. It says, my impression of the hall was that it was monocolor. I assume light matte gray. I doubted my sanity at the time. The plane circles around the boat counterclockwise from the Southeast. Hmm. The silence is sinister was the last tweet. It says other pertinent information to fake passengers using stolen passports that changed their appearance. What one possible passenger who bypassed security. And an SOS at 243 intercepted and reported only in Chinese news, which is a plane attempting emergency landing. Trump leaked a similar satellite photo in 2019 of USA 224, which launched in 2011, same year as USA 229. And then it says debunking the suicide myth. Everyone stands up for him, including officials and his wife. 18, 000 flight hours. Coworkers loved him. So it's talking about the pilot. No indication of suicide intent in the flight path. Had a huge custom simulator. Not standard model. Zahari's flight simulator had been used to pilot two data points in the southern Indian Ocean. Or to plot. And route found on the simulator closely matches MH 150 route to Jeddah with a diversion at the end of the South Pole. He was rostered to fly MH 150, impossible to disconnect all four electrical generators. Flying over his hometown is silly. It was an emergency and people would kick down the door before they would get knocked out. Depressurization is slow. In most emergency scenarios, the plane is not going to last until it runs out of fuel. Now it's going on to debunk the fact that the actual of the debris, no debris found by the official search or above or below water. It says the debris found years later was not consistent with barnacle growth. Only the Flay Perrin was matched with a non unique serial number. One person claims to have found 10 plus pieces, which was featured and contested on a Netflix documentary. Oh, excuse me. No one is allowed to inspect it. Okay. So it's trying to debunk it addressing debunks of the videos. Clouds do move just slowly. So it's just going over some of the things that people are saying about that. Hmm. Interesting. Plane disappears. So it says teleportation. Plane disappears from space time instantly. Intermediate black hole event. Which was it being cold? A witness sees a possible red shifted glow or orange glow Using a plane because it's in open space, huh? Teleportation may be to hide the plane Family's phones were proven ringing on Chinese TV for days Impossible if underwater or in another dimension, huh? Traveling forward in time doesn't break causality But traveling backward in time does See time Dilation says the science wormholes have been shown to be theoretically possible by at least three scientific papers They all show that exotic material is not necessary One paper argues a thin shell could be used to safely transport an object outside of space time Description of an intermediate black hole is consistent with the zap we see in the videos And one paper discusses needing to remove unwanted particles from the area The orbs may have been super conductive the orbs could be cleaning the area in Deucing the mouth of the wormhole and or acting as the barrier for passage. And there's a real patent for a magnetic vortex wormhole generator. What the fuck? No way. Let's pull that one up. Patents. google. com. A patent number is. U. S. 20030197093A1, and I will include this in the sub stack as well, because now we need a sub stack on this one. So this invention, which is called Magnetic Vortex Wormhole Generator. What? This invention relates to a magnetic vortex generator, which has the ability to generate negative mass and a negative spring constant, which, according to Einstein's general theory of relativity, is required in order to create a stable wormhole between R space and hyperspace. Whaaaaat? Very interesting, above my scientific pay grade. But I will definitely be reading through this another time. And maybe I'll highlight some stuff for you when I throw it in the sub stack. Here's the article that came from the last day of Malaysia airline passengers with stolen passports. Okay, interesting. Could these be the aliens? Alright let's wrap this up here. It says Diego Garcia, 1, 700 military and 1, 500 civilian personnel. Space Force has 86, 000 total servicemen and women. Okay. Sighting of a passenger plane 50 miles north of the base flying low in the early morning. I wish he would have put this together better. Pilot had Diego Garcia in his simulator. Not open to commercial aircraft. Enough space for a 7 77. So wait, what is this? Diego Garcia? Is this supposed to be like a a military base or something? What is Diego Garcia? Diego Garcia Base. It's gotta be a military base. Diego Garcia is a British atoll in the Indian Ocean. It is an island of the British Indian Ocean Territory, an overseas territory of the United States Kingdom or the United Kingdom. It is a militarized atoll just south of the equator in the central Indian Ocean and the largest of 60 small islands. Huh. Okay. Interesting. Interesting. Because there was a theory that it landed there, I guess. Okay. Alright, moving on here. Not open to commercial aircraft, has enough space for a 777, has underground facilities with a black vault Freedom of Information Act showing it may be a CIA black site. Message from Philip Wood saying he had held captive with a picture of EXIF data, placing it at Diego Garcia. Tens of millions. To black construction for dredging and other activities. Lockheed Martin contract for upgrading power and water photos of Diego Garcia, Facebook that look like the crew seems like the new area 51 Strava heat map and the small boat Harbor outside of the yacht club seems very active. Do D reassessed privacy's policies for the troops after Strava revelations in 2018. Hmm. Theories and speculation. The reason to do this must be large enough to warrant the risk unlikely to be about money. Shadow war for control of this technology, 20 semiconductor scientists on board. Whoa. So saying that basically the reason that they would have done this was that there was 20 semiconductor scientists on board Malaysia air and they wanted to either remove them, kill them, whatever. Or transport them to this base. Says video suppressed to hide hyper advanced technology not known to the public. Interesting. Video suppressed to hide non human intelligence. Filming had intent. UAV is too slow to catch a 777 and US 229 is only in position for minutes. So the only reason it got filmed, they're saying, is because they wanted to see this, and then somebody leaked it. Primary narratives. Ones with the most evidence, and we're getting towards the end of this. Set the satellite computer to stick to IOR 30 minutes prior to takeoff to make the plane difficult to trace. Three fake passengers possibly in on the hijack. Pilots and crew may be in on it. Flight changed to the last minute. Same data of Diego. 1721 UTC event is electromagnetic jamming plane is flown to Penang as a waypoint and for flies directly towards the coordinates. U. S. military equipment is waiting to teleport the plane to Diego Garcia. Deals are made with the crew and passengers, countries of the passengers. Maldives sighting just north of Diego Garcia in the early morning, Philip Wood resists, where is he now, witness protection. Who is Philip Wood? Debris later thrown in the ocean. Crew lookalikes found on Facebook at Diego Garcia. Motive is control of the very technology we see in the video. And the last portion of this says, UFO emergency event. All right, it says 1721 event disconnects all four electrical generators and APU transponders similar to what an EMP or electromagnetic interference may do damage to the plane will cause it to ground quickly depressurization may be slow fire could have started lithium batteries could be a source of fuel or interest in the UFO angle copilot cell phone pings over Penang. Indicating calling for help. Next logical place to land is in the water. Other narratives, USO, UFO teleports the plane to another dimension or location. Ooh. And motive of the cover up is to hide non human intelligence and technology from the world. Whoa. Decoy plate theory. Second 777 used to spoof the pings and track trick in Marsat. This event was to gain control of patents for some nanochips related to the Rothschilds. What? This event was to gain control of patents for some nanochips related to the Rothschilds. Huh. UFO is saving the passengers from their own doom. UFO is attracted to the lithium batteries, or the governments are working with the NHI for shadowy purposes. Interesting. That is a crazy one. Crazy one. He says, submission statement, the MH370 videos are the largest verifiable conspiracy of all time. This has been a cover up by multiple nations and multiple individuals. This conspiracy has the potential to break the minds of many, as well as destroy confidence in world governments. And this came from the same individual who said, Thank you for contributing, supporting, and getting the message out. Wow. That's a... Crazy one, crazy one. That's one of my most favorite conspiracies that we've gone over. All right. Wonderful. I hope you got something out of that. Code to the Substack, austinadams. substack. com, subscribe, leave a five star review. That'

In this episode of the Beading Table, our hosts talk about taking breaks from beading and inspiration.  The Iorì:wase Podcast Channel is brought to you by First Nations Fiber

In the last decade, there has been a growing convergence of global powers in the Indo-Pacific, evident from the proliferation of multilateral initiatives in the region. It has also emerged as an arena for geopolitical competition between China and the United States. As the competition intensifies, how does China see the Indo-Pacific? How has Beijing's understanding of this region changed over time? What can India learn from the way China sees the Indo-Pacific?In this episode of Interpreting India, Manoj Kewalramani joins Shibani Mehta to answer these questions and more. Episode ContributorsManoj Kewalramani is a fellow in China Studies and the chairperson of the Indo-Pacific Studies Programme at the Takshashila Institution. His research interests range from Chinese politics, foreign policy, and approaches to new technologies to addressing questions on how India can work with like-minded partners to address challenges presented by China's rise. Manoj is the author of Smokeless War: China's Quest for Geopolitical Dominance, which discusses China's political, diplomatic, economic, and narrative responses to the COVID-19 pandemic. Shibani Mehta is a senior research analyst with the Security Studies Program at Carnegie India. Her research focuses on the India-China boundary dispute with the purpose of analyzing India's foreign and security policy decisionmaking.Additional ReadingsSmokeless War: China's Quest for Geopolitical Dominance by Manoj KewalramaniIndo-Pacific Empire: China, America and the Contest for the World's Pivotal Region by Rory Medcalf

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Welcome to episode 142 of Activist #MMT. Today's the final part of my three-part conversation with Scott Fullwiler, on his 2008 paper, Modern Central Bank Operations: The General Principles. Today we discuss principles seven to ten. My full and detailed question and summary list can be found in the show notes to part one. Also, be sure to check out the list of audio chapters at the bottom of today's show notes, to find precisely where each principle, and otherwise, can be found. (A list of the audio chapters in today's episode can be found at the bottom of this post.) Principal seven, which refers to a world without a floor system (QE is an example of a floor system), is that a central bank can change its target interest rate by simply announcing it. This is contrary to the false idea that the central bank can only set a new target rate by overwhelming the system with reserves in order to push the rate higher, or push it lower by starving the system by selling a very large amount of bonds. This implies the central bank and its government to be little more than a very large currency user. Also, the "liquidity effect" is the false idea that the mere existence of reserves makes banks want more of them, and that this in turn results in more lending to customers. (This is essentially Say's law, which is the false idea that supply causes demand.) Principal eight is that the amount of total reserves in the system is primarily due to the central banks method of interest rate management. If a central bank chooses a floor system like QE, then there will be a whole lot of reserves in the system. If they also choose restrictive reserve requirements, then there will be even more as banks demand more in order to meet them. If there was no floor system or reserve requirements at all, then the total amount in the system will be greatly reduced. In this case, once again, the aggregate level will be controlled endogenously – by the rigidness of banks needing to settle payments each day, which is primarily dependent on the behavior of actual humans in the real economy (the non-government sector). Principles nine and ten basically assert that the central bank is in the unique position of being a currency issuer. Only the central bank, via the execution of fiscal policy, can create net financial assets – which is money we don't have to pay back. Commercial banks can only create credit, which must always be paid back, plus interest. Commercial banks – and indeed the entire financial system and economy – depends on the central bank because: we have to pay taxes which can, ultimately, only be paid with reserves, which can only be done through the banking system. Also, banks are legal franchises of the state. If a commercial bank tried to bypass the central banking system entirely, it wouldn't be a bank for long. In the same way, you could try and call yourself a bank, but unless you're legally sanctioned and accepted as one by the central bank, you wouldn't get very far. You can financially support this podcast by going to Patreon.com/ActivistMMT. For as little as a dollar a month, all patrons get exclusive, super-early access to several full episodes and some unique patron-only opportunities, like asking my academic guests questions (like my episodes with Dirk Ehnts, John Harvey, and Warren Mosler). In addition to this podcast, patrons also support the development of my large and growing collection of learn-MMT resources, and my journey through the Torrens graduate program. To become a patron, you can start by going to Patreon.com/ActivistMMT. Every little bit helps a little bit, and it all adds up to a lot. Thanks. And now, let's get right back to my conversation with Scott Fullwiler. Enjoy. Audio chapters 5:42 - It would mean they could buy reserves for low interest (penalty rate) and then earn high interest for holding it (IOR) 7:59 - Principle 7: There is no "liquidity effect" associated with central bank changes to its operating target. (Apologies for the very long question! I got it wrong at first, and scrambled to rewrite it at the last minute.) 20:40 - Principle 8: The quantity of reserve balances in circulation is primarily determined by the central bank's METHOD of interest-rate maintenance. 27:50 - Principle 9: Under current operating procedures, the central bank's balance sheet expands and contracts endogenously while these changes neither create nor destroy net financial assets for the non-government sector. (The banks can't create or delete reserves, only the central bank can.) 30:01 - Clarifying this sentence in principle 9: Outside of a floor (QE) system, the monetary base can only be determined endogenously (by commercial banks and potential borrowers). 31:10 - Thoughts on his approach to principle ten. 32:32 - Principle 10: The central bank's interest rate target "matters" because banks use reserve balances to settle payments. (The central bank is a currency issuer. Commercial banks are currency users.) 36:52 - Reservations about the final paragraph in principle ten. (Also, assuming away everything that disagrees with you, and equating sharing sources that refute you with "appealing to authority.") 39:52 - If you could, who would you appoint to government positions (Treasury, Federal Reserve, etc)? 41:48 - Assuming they're there, what changes would we see? (Your favorite policy plus the job guarantee, or your favorite policy plus the involuntary unemployment) 42:46 - Assuming they're there, what changes would we see in monetary policy? 47:08 - Macro-prudential regulation instead of one target interest rate. 49:31 - Scott will be teaching macroeconomics at Torrens University (for my MMT-plus-ecological economics masters program) starting February. I'll be taking it June 2023. How he's designing the course. 53:48 - Goodbyes 56:51 - Duplicate of introduction, with no background music (for those with sensitive ears)  

The Everyday Sniper Podcast: Live Streaming the Hide  Doing a test to try out the new live streaming on the Sniper's Hide website.  The live streaming will eventually get linked between the App and the Desktop, right not they are not working together.  But once they are fixed look out, I can live stream and podcast at the same time. So catching up on the last two weeks, we just returned from California.  We did a class from the Pala Range, awesome time so a bit of discussion on that topic.  Oh, I picked up an IOR scope from a student. Next a bit of zero talk, I have an obsession with fine tuning our zeroes.  We need this process to work better, or do we, which is my current question.  Link to our class schedule if you want to know where we are gonna be, follow us in the Sniper's Hide Forum. Hope to see you in class in the near future, thanks for listening, watching and being a part of the everyday sniper podcast   

Welcome to episode 141 of Activist #MMT. Today's part two of my three-part conversation with Scott Fullwiler, on his 2008 paper, Modern Central Bank Operations: The General Principles. Last time in part one, we discussed some generic but related topics, and then principles one and two. Today in part two, we discuss principles three to six. Next time in part three, we discuss seven through ten. My full and detailed question and summary list can be found in the show notes to part one. Also, be sure to check out the list of audio chapters at the bottom of today's show notes, to find precisely where each principle, and otherwise, can be found. (A list of the audio chapters in today's episode can be found at the bottom of this post.) Principal three is that, outside of a floor system, it's not possible for the central bank to target the quantity of reserves. This is for two reasons: first, as in principle one, banks need reserves to settle payments and meet reserve requirements. Both of these are rigid needs. They need exactly that amount, no more no less. In other words, banks' demand for reserves is always vertical. Any less, and the payment system, and consequently society, breaks down. Any more and the reserves sit around unused. (The excess may earn a bit of interest, but, outside of a Volcker shock, where rates are set up around 20%, it's not much.) This means the amount of reserves in the system is determined by commercial banks (that is, it's endogenous) not the central-bank (which would be exogenous). The other reason the central bank can't set the quantity of reserves (outside a floor system), is because many transactions occur that are outside the central bank's control. A few examples are government spending and taxation (both of which the central bank must do), and calendar factors such as more cash being desired by the public as each weekend and vacation day approaches. Related is principle four, which is that all of these extra transactions must be offset. This is required if banks' demands for reserves is to be met, which is required to manage the payment system, which is required to have a stable society. Specifically, these extra transactions result in reserves entering and leaving the system in an uncontrollable and volatile fashion, making it less likely that banks' needs will be met. Therefore, the central bank must buy and sell bonds in order to keep reserve levels sufficient. Principal five is that reserve requirements are not for controlling reserve aggregates (which as in the previous principal, isn't possible anyway), but rather are an additional tool for reducing interest rate volatility. Although nothing changes what the central bank has to do, correctly designed reserve requirements allow the actions to occur at a more measured pace. They also provide some foresight and notification before some actions become urgent. (Think of it in terms of the tickets and doors at a sports stadium. Everyone with a ticket needs to get inside before the game starts and outside after it ends. The doors and the tickets make it such that the crowd enters and exits in a controlled fashion, distributed over time.) Finally, principle six is that volatility in the target rate can only exist within the central bank's corridor, meaning interest on reserves at the minimum and the discount window's penalty rate at a maximum. The decision to not regulate, or not enforce existing regulations, is just another form of regulation. When there is no deliberate floor or ceiling, as is our current reality, it means the highs will be dangerously high and lows dangerously low. In the same way, Minsky's financial instability hypothesis is only true within the ceiling and floor set by governments. We could set a rigid floor and ceiling such as with a job guarantee, but then, as Kalecki says in his 1942 paper, Political Aspects of Full Employment, if the government governs, then the rich and their feelings can't. This is why the rich pay our legislators to not legislate, especially when it comes to employment. Principals seven through ten come in part three, but for now, let's get right back to my conversation with Scott Fullwiler. Enjoy. Audio chapters 6:07 - Relation between fractional reserve banking and money multiplier 9:10 - Principle 3: Outside a floor system, it's impossible for the central bank to target the quantity of reserves. 15:12 - Another comment regarding the Fed being in charge of the government (not) 15:54 - Principle 4: The CB must offset many things out of its control, and government spending is mind-twisting! 28:21 - Principle 5: Unless using a floor system, it's impossible for the CB to control the amount of reserves. It can only control the price of those reserves (the interest rate). Also, reserve requirements (and TT&L accounts) are to BUFFER. 34:51 - Using the target rate to manage inflation is a terrible thing to do (it has real-world consequences) but does not limit the ability of the central bank to manage the stability of the payment system. 38:28 - Liar, Liar reference 39:18 - Principle 6: How does the CB defend a precise target, as opposed to only ensuring it's remains within the corridor? 48:38 - What if the penalty rate was intentionally set below interest on reserves (IOR)? 52:16 - It would mean they could buy reserves for low interest (penalty rate) and then earn high interest for holding it (IOR) 54:33 - Principle 7: There is no "liquidity effect" associated with central bank changes to its operating target. (Apologies for the very long question! I got it wrong at first, and scrambled to rewrite it at the last minute.) 58:36 - Duplicate of introduction, with no background music (for those with sensitive ears)

Welcome to episode 140 of Activist #MMT. Today I talk with Scott Fullwiler on his 2008 paper, Modern Central Bank Operations: The General Principles. Today's part one of a three-part conversation. Today in part one we discuss some generic but related topics, and then principles one and two. Next time in part two we cover principles three to six, and then in part three, principles seven to ten. My full and detailed question and summary list can be found at the bottom of these show notes (look below!). Also, be sure to check out the list of audio chapters to find precisely where each principle, and otherwise, can be found. (Here are links to parts two and three. A list of the audio chapters in this episode can be found right below the resources section in this post.) Today's principles one and two. Principle one is that reserves can only be used for two purposes: Settling payments between banks, and meeting reserve requirements. (There's actually a third purpose, which is it's the only thing that can ultimately settle tax obligations to the state.) Knowing these are its only possible uses, when you hear, for example, that more reserves somehow increase a bank's liquidity, and that this in turn encourages banks to lend more to customers, which then in turn increases economic activity in general… you know they're wrong. The same is true with the reverse: that less reserves somehow discourages lending and reduces economic activity. Principal two says that, because the central bank is the only entity capable of creating and deleting reserves, it has "a fundamental, legal obligation to promote the smooth functioning of the national payment system." Without a functioning payment system, society would, without exaggeration, break down. If a bank can't settle its payments with another bank, then everyone expecting a payment won't receive it, and everyone expecting payment from them also won't receive it. And on and on. Trillions of dollars go through the federal reserve system every day. More goes through this system in the United States each week then an entire year's worth of GDP. Not to mention, the US payment system is central to most of the payments for the entire world, and so the US payment system breaking down would have global implications. (As a brief side note, this latter point is leveraged by the United States to surveil and manipulate most nations around the globe. One example is how, when Iraq threaten to eject all US troops, the US responded by threatening to forbid Iraq from using its payment system, thereby potentially disconnecting it from the entire world. This is the big story that lurks behind the so-called petrodollar. Here is a fascinating video on this by the Wall Street Journal.) And now, onto my conversation with Scott Fullwiler. Enjoy. Resources Daily Treasury statement (original location) 2017 paper by Rohan Grey, Banking in a Digital Fiat Currency Regime 2015 paper by Perry Mehrling, Elasticity and Discipline in the Global Swap Network 2000 paper by Stephanie Bell (now Kelton), Do Taxes and Bonds Finance Government Spending? The updated version of this paper, from 2009, consolidates the original ten principles into around seven, and then adds some more. It's much longer, and is a chapter in the book (as co-edited by Scott) called Institutional Analysis and Praxis: The Social Fabric Matrix Approach. Audio chapters 5:06 - Hellos 6:55 - My boys 8:49 - Our meeting, and Twitter 11:27 - The plan 12:17 - The Federal Reserve and the banks are in charge of the government (not) 16:58 - How do you know what you know? 19:52 - How the paper came to be 23:08 - What would change about your paper if you could write it again? 25:25 - The horizontalists versus structuralists debate (plus circuitists and chartalism) 27:54 - MMT agrees more with horizontalists, but Randy Wray had one unexpected element of agreement with structuralists. 30:34 - Steve Keen's Debunking Economics opens with the false labor supply-demand curve 31:37 - Principle 1: Reserves can only be used for settling payments and meeting reserve requirements. 35:57 - Aside from banks and other central banks what other institutions and entities have reserve accounts? 38:24 - Principle 2: The primary directive of central banks is to preserve the stability of the payment system (which is necessary to have a functioning society) 40:54 - Principle 2 continued: parenting analogy 43:22 - Principle 2 is almost the most important one 44:23 - Relation between fractional reserve banking and money multiplier 47:27 - Principle 3: Outside a floor system, it's impossible for the central bank to target the quantity of reserves. 50:48 - Duplicate of introduction, with no background music (for those with sensitive ears) My full question and summary list I have some questions before we get into the ten principals: Pre-1: First, I'd like to start with a general question mostly unrelated to your paper: A common online theory is that the central bank doesn't answer to the government. Rather, the government answers to the central bank – and according to some, even directly to commercial banks. This means the government must borrow (in the personal sense!) from the CB or banks, which means the national debt and deficit, and bond vigilantes, are indeed a big deal. This also completely undermines MMT. We're going to get into lots of details, but in general, how would you respond to that person? (Assuming they really want to know better.) Is there any instance in history where, when it really came down to it, the central bank didn't do what Congress or Parliament demanded of it? Having a stable society requires a stable payment system, which, under our current institutional set up, only the central bank can do. Is it possible to have a stable society/payment system, and a dollar worth the same on both sides of the country, if the government had to answer to the central bank in that way? Pre-2: Your paper, written in 2008, is called Modern Central Bank Operations: The General Principles. Can you tell the backstory of how the paper came to be, as you briefly mentioned in email? Pre-3: As I understand it, horizontalists and structuralists agree that loans create deposits, but disagree on the how, where, and dwhy the reserves are obtained afterwards. Can you summarize the differences and the debate between the two camps, and also relate it to the chartalist view? Pre-4: How do you know what you know? You interviewed CB employees? Looked at their balance sheets? Just logically it must be true? Pre-5: It's been fourteen years and two major crises since you wrote your paper. How well do the ten principles stand up? If you wrote the paper again today, would there be any major changes? THE PRINCIPLES I'm going to summarize the ten principles in your paper as best I can, and describe some of their implications. Then I'll ask you to correct and elaborate as necessary. I'll also use some of the principles as an excuse to ask a question. PRINCIPLE ONE Reserves only serve two purposes: settling payments and meeting reserve requirements. Regarding the latter, there could be an arbitrary requirement that, for example, a bank must always hold an amount of reserves equal to 10% of the amount it has in deposits (perhaps immediately, or with a lag). In the absence of reserve requirements, the amount of deposits held by a bank is only very distantly related to the amount of reserves banks need to make settlement. This is because a newly created deposit for a newly created loan (or from new government spending): may not be spent right away, may not be spent in its entirety, at least some of it may be spent at (a company that banks at) the same bank. If it is spent at (a company that's a customer of) another bank, it's only one of many transactions taking place between those two banks. The net transactions between those banks may be small, or even in the opposite direction. (A simple example: if I owe you $1000 and you owe me $1050, then the net transaction to settle the whole thing is… you just give me 50 bucks.) Finally, the bank may already have sufficient reserves, or can cheaply borrow them from another bank. So again, the existence or creation of new deposits is only very indirectly related to the need for more reserves. A minor follow up: Banks require reserves to transact with entities other than itself. These other entities include other banks, and the government at all levels. What other institutions/entities require reserves for settlement? Foreign banks and governments? PRINCIPLE TWO As the only institution capable of creating and deleting reserves, the central bank has "a fundamental, legal obligation to promote the smooth functioning of the national payment system." As you say in the paper, "a nation's payment system is at the core of the infrastructure of the modern business world." According to the Federal Reserve's Board of Governors in 1990: "A reliable payments system is crucial to the economic growth and stability of the nation. The smooth functioning of markets for virtually every good and service is dependent upon the smooth functioning of banking in the financial markets, which in turn is dependent upon the integrity of the nation's payment system." The amount of transactions settled each day is enormous. In the US in 2005 it was $2.1 trillion. Today I believe it's closer to $5 trillion. So, a sixth of the annual GDP of the United States, is processed each day by the central bank. Further, this is only a portion of the nation's transactions, because more are directly settled between banks through side agreements and internal systems. The central bank is the only institution that can create reserves, and so, if we are to have a functioning society, it will provide the reserves needed by the banks, because it's the only thing that can settle those transactions. If a bank abuses these privileges (such as, they keep demanding more and more, because they keep committing crimes) then they could be shut down. An analogy is how parents are the only ones capable of providing their children with food. Ultimately, it's provided based on the needs of the children. Parents will provide enough food in order for their children to remain healthy and not dead (and so they don't have to go to jail). It also implies a power struggle, such as when the children whine about being hungry, not out of actual need but as a form of manipulation. Of course, unlike the banks and their central bank, in most normal families, the children haven't paid off their parents. Also unlike banks, a child can't be shut down if they consistently misbehave – unless the parent really wants to go to jail and lose all their children! PRINCIPLE THREE Before I summarize this principle, can you talk about how the money multiplier view and fractional reserve banking are two sides of the same thing? The principle: The money multiplier not only doesn't limit bank lending, it's impossible for the central bank to directly target reserve levels, or the monetary base, at all. It's only possible to directly target the price of that money – the interest rate. The monetary aggregate can only be indirectly targeted, which is inherently unreliable. Even if the central bank could magically manage the levels of reserves, since banks are not reserve constrained, it wouldn't have any direct effect on bank lending anyway. It's impossible for the central bank to control the level of reserves because there are many factors out of its direct control. This includes: fiscal policy (the government spending it's compelled to execute), taxation which is collected through the banking system foreign policy and foreign exchange, the public's desires for cash and coins, loans, and foreign products, calendar factors, such as paychecks at the end of each week and more cash spending on the weekends and vacation national holidays, crises, the trillions in daily transactions which must be settled, and the fact that the central bank doesn't just manage the payment system, it also manages "inflation" and "maximum employment"! As we're about to discuss in principle four, all these activities must be continually offset. Attempting to target specific reserve levels can only serve to degrade its ability to manage these offsets, and so its target rate, and ultimately, the payment system. PRINCIPLE FOUR As in the previous question, the central bank does many things unrelated to interest rate targeting, and many other things happen out in the world that aren't directly in its control. This results in reserve levels moving in an unpredictable fashion, all of which must be offset if the target rate is to be maintained. One of the things out of the central bank's control is government spending. The way the government spends occurs is mind twisting, and understanding it is key to understanding national accounting specifically and modern money in general. The government itself has a checking account at its central bank, which in the United States is called the Treasury's general account, or TGA. This is the account where a number is raised in response to new spending voted on via the passage of a new law. [CORRECTION: As (needlessly!) required by law, the TGA is not raised except after tax and bond revenue is received.] When that money is distributed to someone in the real economy, that same number is lowered once again. This is a very nature of government spending. Here's another example of this mind twisting: When the government sells a bond, it's paid for by the government. The government does this by withdrawing $1000 from its account, the TGA, and handing it to the central bank. So, to pay the bank – it's bank – it withdraws $1000 from that bank and hands it right back to the bank! Further, at some future date, the bank must then pay its profit to its shareholders, which is the government. How do they do this? By putting that money right back into that same government account! (Of course, no money is actually passed around, it's just a number going down there and going up here.) (Also, the government's account can go deeply negative without much real-world consequence, but since negative numbers stress uninformed people out, we cater to (and leverage) that ignorance by making sure it stays positive.) PRINCIPLE FIVE Reserve requirements are related to interest rate targets, not control of monetary aggregates. In one sense, what's having the purpose of having rules at all when it's guaranteed that the rule maker will do whatever it takes to ensure the rule followers always follow the rules? It seems reserve requirements are a tool to buffer against sudden volatility, in the same way that TT&L accounts (as stated on page 607 in Stephanie Kelton's 2000 paper, Do Taxes and Bonds Finance Government Spending?) are used to buffer against volatility from government spending and redemption. These things don't stop the need for offsetting these activities (as in principle four), but it does make it possible to not have to do it at such quick, extreme, and unpredictable levels. In other words, these buffers don't change what the the central bank needs to do but it helps them see it coming. I'm going to ask a mostly unrelated question: Interest rates are for managing the target rate, which is for managing the stability of the payment system, which is for maintaining the stability of the entire nation. Yet, at the same time, the CB is also mandated to manage (some definition of!) inflation, and the only way it knows how to do this is by adjusting interest rates. How can these tasks not conflict? If it's critical to keep interest rates stable (near the target, ideally zero from our MMT points of view), then during the Volcker shock, how could you possibly keep interest rates stable at such a high level? In that situation, it seems that banks simply settling their payments each day would be so expensive, they would have to pass much of that cost onto their customers through higher interest rates. Raising interest rates: increases interest income on new bonds, further enriching the rich raises interbank borrowing costs for banks, which are passed onto its customers. The results in its business customers raising prices for its customers, which is just another way to further lower real wages. Anyone with a variable rate loan, whether the borrower is in or out of the country, suddenly has much greater difficulty paying it off. This includes global south countries colonized by powerful nations, such as via the IMF. PRINCIPLE SIX Volatility in the target rate is only possible between the discount window's penalty rate at a maximum and the interest rate paid on reserves at a minimum. The way you say it in your paper is, "Potential volatility is determined by the width of the corridor." Here's a question about the target rate and its corridor or band (with thanks to Andrew Chirgwin): Let's assume a corridor with a width of .5%. So the minimum, the interest on reserves (IOR), is 1.75%. The target rate is 2%, and the penalty/discount rate is 2.25%. So, they're all different values. If a bank is in need of reserves, it first turns to another bank. It may be a bank it needs to settle with, but maybe not. It may try to get all the reserves from one bank, or maybe a little from several. In order to turn a profit, the banks with excess will make an interest-rate offer to the bank-in-need. That rate will be somewhere within the band. It won't be higher than the penalty rate, because the bank-in-need could just turn to the central bank's discount window and pay less interest. It won't be lower than IOR, because no bank would deliberately choose to lose money (that is, make less from the bank-in-need, than they would from interest paid directly on their reserves). Within this narrow band, banks with excess may compete with one another in an attempt to get the business of the bank-in-need. So, although a bank may offer an interest rate of, say, 2.24%, which is just under the penalty rate, another could easily steal their business by offering 2.20%. The central bank is okay with this competition, because they know the interest rates will remain within the band. What I don't understand is, the CB defends that band so that it remains within the minimum and maximum. So, why is there a precise target at all – and consequently, what's the point of potentially setting it equal to IOR? Clearly I'm missing something, because it's stated at several points in your paper that setting the target rate equal to IOR does make an important difference. How does the central bank defend the precise target rate? A somewhat related thought experiment, which may just be absurd: What would some of the major consequences be if the discount window/penalty rate was set below IOR? (With the target rate between the two.) PRINCIPLE SEVEN In the context of monetary policy, the concept of "liquidity effect" is that extra reserves in the interbank market pushes down interest rates, which then stimulates banks to make more loans, which in turn increases economic activity. In other words, it's the false view that the interest rate is not something the central bank can arbitrarily decide, but rather something it can only control or defend by offsetting the effects of "market forces". Luckily, since the central bank is the largest currency user, it at least has a decent chance of success. (I know that's not what they mean but it's not far off!) Specifically, the "liquidity effect" is the false belief that the only way for the central bank to "choose", or defend, its target rate, is to inject a potentially vast amount of reserves into the banks' balances. This will encourage banks to increase lending, which in turn will increase economic activity. This is called "easing". (QE is just a ridiculous amount of easing.) Removing a large amount, called "tightening", will discourage lending and economic activity. In reality, the target rate is an arbitrary decision (a "policy variable") of the voting members of the central bank. The consolidated government has the infinite capacity to create and delete its own money and to sell and purchase its own bonds. This means it can effectively choose an interest rate for any bond at any maturity. The false "liquidity effect" view also asserts the mere existence of more reserves in a bank's account makes banks suddenly need them; makes them want to use them. It strongly suggests that reserves can be directly lent to customers, or can be used for some purpose beyond settlement (and meeting reserve requirements). If my bank dramatically increased my personal checking account, then sure, that would indeed cause me to pay off my mortgage and probably hire some contractors to do fixes and upgrades to my house that at the moment, we can only dream about. But that's only because, for average people, deposits can be used for almost any purpose. [CORRECTION: Me getting money in my bank account, outside a loan, is net financial asset – a grant. The back being reserved is always an even swap. That's totally different.] Beyond reserve requirements, the only possible use of bank reserves is to settle transactions – transactions that happened at some point in the past. It means the mere existence of more reserves has no direct influence on a bank's behavior. In other words, settlement – and therefore the amount of reserves needed – is endogenous. A bank's demand for reserves is vertical. It's decided on not by the government but by actual people choosing to take out a loan and a bank choosing to give them one A final point: The false idea of the "liquidity effect", that the mere existence of new reserves incentivizes banks to issue more loans, evokes the concept of Say's law. Say's law is the false idea that supply causes demand, as if a new product appearing on a store shelf magically and magnetically attracts a new customer – who didn't even know the product was existed – to want to go to that store and want to purchase that product. (As if consumers are unthinking puppets and businesses their puppeteers!) In reality, demand causes supply. In reality, loans create deposits. Those deposits will at some point likely result in some transactions with another bank, which the bank will need to settle. If they don't have enough in reserves, only then will they request more. PRINCIPLE EIGHT The quantity of reserve balances in circulation is primarily determined by the central bank's method of interest rate management. The only uses for reserves are to settle payments and meet reserve requirements. If there are no reserve requirements, then there's clearly less reasons to hold them. As a simple example, if the central bank chooses to penalize overdrafts severely at the end of each day, then banks will demand much more reserves in order to buffer against that possibility. If there were no reserve requirements, and both IOR and the penalty rate (and the target) were set to zero, then it seems there would be little to no uncertainty for banks. It would be free to purchase reserves from the discount window whenever needed. This seems close to, if not exactly, MMT's ZIRP. If all three were equal but set *above* zero, then banks would make a profit on their reserves, and when in need of more reserves for settlement (again assuming no reserves requirements), they would pay that same rate at the discount window. (There would be little need for banks to lend to each other, because they could do no better.) So, again, it seems there would be little concerns from banks to make settlement or fear overdrafts. The only difference is the perpetual risk-free, effort-free interest income! These are different methods the central bank can choose to manage the interest rate. What are some other important scenarios/methods and their practical differences, both from the banks and the central bank's points of view? PRINCIPLE NINE Under current operating procedures, the central bank's balance sheet expands and contracts endogenously while these changes neither create nor destroy net financial assets for the non-government sector. In your paper, you say: "neither reserve balances nor the monetary base can be expanded or contracted exogenously by the central bank as long as the central bank's target rate is above the rate paid on reserve balances." With our previous questions as background, can you elaborate on this? PRINCIPLE TEN This principle is basically distinguishing between the currency issuer and users Central banks interest rate "matters" because banks use reserve balances to settle payments. Banks and "market forces" do not control the interest rate. This is for the simple fact that banks must settle their transactions at the end of each day, those transactions can only be settled with reserves, and those reserves can only be supplied (created and deleted) by the central bank. Also: There's no use for reserves beyond settlement and reserve requirements, settling payments with anything other than risk-free reserves is obviously riskier than settling them with risk-free reserves, reserves are also the only thing that can settle tax obligations to the state; which can only be done through the banking system, and banks are legal extensions (franchises) of the state. If they tried to bypass the state (and its central bank) by entirely settling amongst themselves, the state would not take this lying down! The banks don't control the central bank and its interest rate any more than average people control the commercial banks at which they have a deposit. Even the most powerful currency user has no power over the currency issuer, because their power largely comes from that issuer! (They were issued a lot, while the rest were issued less.) Any power the user has over the issuer is only because the issuer chooses for it to be that way. FINAL QUESTIONS If you could have your dream government, what economic and financial appointments would you make? What position would you want? If those people got appointed, then what are some of the big changes we would see, particularly regarding monetary policy?