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Bank of England chief warns firms that raising prices could lead to higher interest rates, food costs have risen 18%

Andrew Bailey
© PA
Bank of England Governor Andrew Bailey. His comments follow a surprise increase in inflation earlier this week and the Bank of England's decision to raise interest rates - the 11th rise in a row - from 4% to 4.25%.
Bank of England Governor Andrew Bailey has warned firms hiking prices risk driving up the cost-of-living and hurting the "least well off".

Mr Bailey also suggested that increasing prices may have a knock-on impact on interest rates.

His comments follow a surprise increase in inflation on Wednesday and the central bank's decision to raise interest rates - the 11th rise in a row - from 4% to 4.25%.

Comment: It's only a surprise to anyone who believes, against all evidence, that the economic situation is going to improve.

Figures the same day showed food and soft drink prices rose by 18% year-on-year last month - the highest rate since August 1977.

Comment: In short: They're blaming business for the mess they've made, and if it gets worse it's because nurses and teachers want to be paid a living wage:


Russia: UK could fuel 'radioactive disaster' in Ukraine

depleted uranium
Depleted uranium shells promised to Kiev by the UK would "cause irreparable harm" to soldiers and civilians alike, Moscow claimed

The potential use of British-supplied depleted uranium shells by Ukraine would have a devastating impact on the country's economy and population, lasting for centuries to come, the Russian Defense Ministry warned on Friday.

Speaking at a briefing, Lieutenant General Igor Kirillov, who is in charge of Russia's Nuclear, Biological and Chemical Defense Forces, issued a scathing criticism of the UK's plans to support Kiev with armor-piercing rounds containing depleted uranium.

He noted that such munitions have only ever been deployed in combat by NATO countries, most notably during the Iraq War, when the US used at least 300 tons of depleted uranium.

Comment: That the UK, and by extension, the U.S. could countenance the use of such barbaric weapons speaks to the level of psychopathy in their leaders. Fallujah will be a tragedy for generations:
fallujah depeleted uranium birth defects

Birth defects in Iraq after being bombed with depleted uranium
iraq depleted uranium birthd efects

Birth defects in Iraq after being bombed with depleted uranium
infant @ Fallujah
© Dr Samira Alani
An infant with deformities in a Fallujah hospital.
Those are the mildest images. There are far worse. Children have been born with brains and viscera outside their bodies, with a single eye, with extra arms and legs. But the West doesn't care.


Seymour Hersh: The Nord Stream Cover-up

The Biden Administration continues to conceal its responsibility for the destruction of the Nord Stream pipelines...
© Adam Schultz
US President Joe Biden • German Chancellor Olaf Scholz
White House Oval Office March 3, 2023
It's been six weeks since I published a report, based on anonymous sourcing, naming President Joe Biden as the official who ordered the mysterious destruction last September of Nord Stream 2, a new $11-billion pipeline that was scheduled to double the volume of natural gas delivered from Russia to Germany. The story gained traction in Germany and Western Europe, but was subject to a near media blackout in the US. Two weeks ago, after a visit by German Chancellor Olaf Scholz to Washington, US and German intelligence agencies attempted to add to the blackout by feeding the New York Times and the German weekly Die Zeit false cover stories to counter the report that Biden and US operatives were responsible for the pipelines' destruction.

Press aides for the White House and Central Intelligence Agency have consistently denied that America was responsible for exploding the pipelines, and those pro forma denials were more than enough for the White House press corps. There is no evidence that any reporter assigned there has yet to ask the White House press secretary whether Biden had done what any serious leader would do: formally "task" the American intelligence community to conduct a deep investigation, with all of its assets, and find out just who had done the deed in the Baltic Sea. According to a source within the intelligence community, the president has not done so, nor will he. Why not? Because he knows the answer.

Comment: See also:


Appeals court blocks Biden's vaccine mandate for federal employees

© Andrew Harnik
US President Joe Biden
President Joe Biden's order that federal employees get vaccinated against COVID-19 was blocked Thursday by a federal appeals court.

The 5th U.S. Circuit Court of Appeals in New Orleans rejected arguments that Biden, as the nation's chief executive, has the same authority as the CEO of a private corporation to require that employees be vaccinated.

The ruling from the full appeals court, 16 full-time judges at the time the case was argued, reversed an earlier ruling by a three-judge 5th Circuit panel that had upheld the vaccination requirement. Judge Andrew Oldham, nominated to the court by then-President Donald Trump, wrote the opinion for a 10-member majority.

Opponents of the policy said it was an encroachment on federal workers' lives that neither the Constitution nor federal statutes authorize.

Biden issued an executive order last September requiring vaccinations for all executive branch agency employees, with exceptions for medical and religious reasons. The requirement kicked in the following November, and the White House said in January that 98% of federal workers were vaccinated. U.S. District Judge Jeffrey Brown, who was appointed to the District Court for the Southern District of Texas by then-President Donald Trump, issued a nationwide injunction against the requirement in January.

The case then went to the 5th Circuit.

Comment: The justice system is not swift. In the meantime, Biden gains ground on mandates demanding obedience.


Bill Gates harassed the WHO to establish a "network of top health emergency leaders" to indulge him in perpetual pandemic wargames, meddle in national governments

© Unknown
Bill Gates
In his extremely stupid book on How to Prevent the Next Pandemic, Bill Gates proposed expanding the World Health Organisation with a division of pandemic shock troops called the Global Epidemic Response and Mobilisation team, or GERM. He envisioned a crack unit of 3,000 diversely talented technocrats who could be airdropped into a developing outbreak anywhere in the world and handle everything from subverting local human rights to sequencing random genomes. He was also very emphatic that he wanted more pandemic wargames, because they're fun events where he gets to hobnob with his favourite virus wizards and pose as an important philanthropist for the cameras.

Comment: Correction: Gates is the czar of the Global 'Wealth' Emergency Corps


Soros-funded DA Alvin Bragg caught hiding nearly 600 pages of exculpatory evidence from NY Grand Jury in Trump case

© Getty Images
Attorney Robert Costello, the former legal adviser to Michael Cohen, spoke to Tucker Carlson on Monday night after he testified to the Manhattan Grand Jury investigating President Donald Trump.

Costello told the FOX News audience that he testified for two hours in front of Alvin Bragg's Manhattan Grand Jury.

Robert Costello told Tucker Carlson, "I spoke to the jury for two hours... It was clear to me the Manhattan Grand Jury did not want to get to the truth."

And it now is being reported that New York District Attorney Alvin Bragg was HIDING exculpatory evidence from the Grand Jury!

According to FOX News legal mind Gregg Jarrett, Soros-funded DA Alvin Bragg HID nearly 600 pages of exculpatory evidence to the New York Grand Jury investigating President Trump.


Can we stop playing make believe? Where are the adults when it comes to Ukraine?

© Unknown
MQ9 Predator Drone
There are still a number of unanswered questions about the incident that downed the MQ9 Predator off the coast of Crimea on Tuesday.

Let us start with the facts:
  1. The MQ9 drone was conducting an Intelligence, Surveillance and Reconnaissance mission in international air space off the coast of Crimea.
  2. The MQ9 turned off its Identification, Friend or Foe (IFF) transponder.
  3. Russian air defense systems were tracking the drone.
  4. Russian jet fighters were scrambled to intercept the drone.
  5. The United States and NATO have been flying drones along the Crimea coast for more than a year.
  6. The drone was brought down without a shot being fired by the Russian combat jet fighters.
So far the United States and Russian military are sticking with the same story — i.e, one of the planes clipped the drone's propeller accidentally, which cause the drone to crash.

We are in full blown Kabuki theater. The United States insists this drone was harmless, just minding its own business, when an incompetent Russian pilot failed to control his plane. Russia insists there was no contact with the drone and claimed the drone turned sharply and fell from the sky.

Comment: Washington needs to clean house, starting with 'shoot-em down' idiots like Lindsey Graham.


10 days that shook the financial world

Banks risk being transformed into mere proxies of the state, with uncertain consequences for efficient capital allocation.
Credit Suisse
© Gabriel bouys/AFP via Getty images
The Credit Suisse was a bank considered to be in good condition and solvent by all regulatory measures.
Over the span of 10 days, the global financial system was once again shaken.

The time frame between the collapse of Californian lender Silicon Valley Bank, America's 16th largest bank, and that of the 167-year-old lender Credit Suisse was approximately just that — 10 days.

And as we witness the fallout, so far it appears contained. Stock markets are up, bank stocks seem stabilized and government bonds are in high demand. Officials reassure ad nauseam that the financial system remains strong and stable.

But the truth is, even if so, what happened in this period of time has changed the financial system forever — and worryingly, most people haven't even noticed.

Governments and central banks would have you believe that in both cases, private sector solutions were found to resolve the failures. No taxpayer funds were used.

But that is likely not true.

In the United States, growing calls from the country's top billionaires and hedge fund bosses to guarantee the full extent of customer deposits would, if acted on, deliver a backstop that must be underwritten by public funds. That's the case even if costs are distributed among whatever healthy banks remain later. The sums involved are eye-watering — by some measures up to $17 trillion of unfunded liabilities.

If the rule is passed — and all indications are that it will be — this would finally make the implicit explicit: that the financial system was never really rescued following the 2008 financial crisis but merely put on life-support. And that has now failed, which means socialization of the losses beckons.

Microscope 1

Rand Paul grills Blinken on stonewalling of COVID origin investigation

rand paul
"You won't help us investigate this."

Senator Rand Paul grilled Secretary of State Antony Blinken Wednesday, accusing the State Department of engaging in a lack of transparency when it comes to providing documents related to the ongoing probe of the origins of COVID.

Paul asked Blinken why documents related to funding of coronavirus research have not been provided to him despite repeated requests.

Comment: See also:

Stock Down

Eurozone can't recover wealth lost to energy crisis, 'high uncertainty' ahead - Lagarde

Christine Lagarde
© Thierry Monasse / Getty Images
FILE PHOTO: President of the European Central Bank Christine Lagarde attends a hearing of the Committee on Economic and Monetary Affairs in the European Parliament on November 28, 2022 in Brussels, Belgium. The burden will ultimately be shared between firms and workers, the head of the European Central Bank warns.
The euro area won't be able to recover massive terms-of-trade losses incurred by rising energy prices, European Central Bank (ECB) President Christine Lagarde explained, during a conference at Frankfurt's Goethe University on Wednesday.

According to the head of the bloc's regulator, the cost of those losses must ultimately be shared between firms and workers.

"And it is important that there is fair burden-sharing between them, with both accepting that they cannot fully recover the income that the euro area has paid to the rest of the world and the ensuing loss of output," Lagarde explained.