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Study finds dozens of US banks at risk of repeating SVB collapse

wallstreetbull
© Truthout.org
Many other lenders are also sitting on unrealized losses caused by the rapid rise in interest rates

Nearly 200 American banks face similar risks to those that led to the implosion and bankruptcy of Silicon Valley Bank (SVB), according to a paper posted this week to the Social Science Research Network. SVB, a major US lender focused on the tech and startup sectors, was shut down by regulators last week after massive deposit outflows.

In the study, four economists from prominent US universities estimated how much market value the assets held by US banks have lost due to recent interest rate hikes.

"From March 07, 2022, to March 6, 2023, the federal funds rate rose sharply from 0.08% to 4.57%, and this increase was accompanied by quantitative tightening. As a result, long-dated assets similar to those held on bank balance sheets experienced significant value declines during the same period," they wrote.

Comment:


Fire

Chechen leader issues bounty on Koran burners

Kadyrov
© Getty Images/Anadolu Agency
Ramzan Kadyrov
The head of Russia's Chechen Republic, Ramzan Kadyrov, has offered a generous bounty for the "elimination" of purported Ukrainian servicemen who were caught on video desecrating a Koran. The footage, which the Russian official reposted, shows two men in what appear to be Ukrainian military uniforms using pages from the Muslim holy book to start a fire.

Taking to Telegram on Friday, Kadyrov insisted that merely issuing a "formal condemnation of the Ukrainian vermin's action that recently burned pages from the Holy Koran" would not be enough.

"I announce a reward of five million rubles [$64950] for eliminating this scum," he wrote, adding that the bounty would be twice as high should the desecrator be captured alive.

Eye 1

Texas middle school kids asked to role-play as 'seducing hooker' in bizarre classroom game

Laura Maria Gruber
© FOX News
Laura Maria Gruber slammed the game used with 13-year-olds at KIPP Academy in Texas.
Texas mom Laura Maria Gruber always considered herself a "woke" liberal in favor of progressive causes, even sending her young daughter to a charter school that celebrates "diversity, equity and inclusion," according to the school's web site.

But she never thought her 13-year-old would be asked to play a "seducing hooker" in a bizarre classroom game.

"I picked my daughter and her best friend up from school and my daughter said 'We played this game at school, Mom, and you're going to be upset,'" Gruber told The Post Saturday from her home in San Antonio.

"When she told me about kids getting up in class and posing as hookers, I almost crashed the car."

The September incident was so disturbing, Gruber said, she pulled her daughter from the school and demanded an apology from administrators.

Gruber, 45, a Latina from Puerto Rico, found out the game was called "Bear-Hooker-Hunter" and went online, discovering it is an adult drinking game version of rock-paper-scissors.

Comment: See also: Oregon high school teacher makes students write essays on their 'sexual fantasies'


Airplane

Russian pilots to be awarded after US drone incident

fighter jet
© Sputnik/Vitaly Timkiv
SU-27 fighter jet
The pilots of the Russian jets that scrambled to identify an American drone that was conducting a reconnaissance mission over the Black Sea have been nominated for decoration, the Defense Ministry announced on Friday.

Russian Defense Minister Sergey Shoigu "has put forward for state awards the pilots of the Su-27 aircraft who prevented the US MQ-9 unmanned aerial vehicle from violating" the restricted flight zone established by Moscow amid the Ukraine conflict, the ministry's statement read. It added that the borders of the area in question had been made known to all users of international airspace.

The ministry, however, did not provide any personal information about the pilots, nor did it reveal what awards they might receive.

On Tuesday, the Pentagon claimed that two Russian jets dumped fuel on a MQ-9 Reaper drone, with one later colliding with the aircraft and damaging its propeller, while accusing Moscow of "unsafe and unprofessional" actions.

The Russian Defense Ministry, however, dismissed this accusation, saying that the Su-27s never came in contact with the Reaper, nor did it fire a weapon. It explained that the US drone was flying with its transponders turned off, violated the restricted area, and crashed after "going into uncontrolled flight" as a result of "sharp maneuvers."

Comment: This was clearly a provocation by the US to see what Russia would do.


Light Saber

'Monetizing misery': YouTube, TikTok and Snapchat sued by Silicon Valley school board

tikTok logo
© CFOTO/Future Publishing via Getty Images
TikTok is among the most frequently downloaded social media apps worldwide, as well as in the United States — specifically among young users.
School board lawsuit alleges TikTok, YouTube and Snapchat cultivated a mental health crisis among kids

TikTok, YouTube and Snapchat are purposefully designed to be addictive platforms that have "carefully cultivated" a mental health crisis among U.S. students, a Silicon Valley school board alleged in a lawsuit.

The San Mateo County superintendent and school board also alleges in the lawsuit filed Monday that the tech companies were involved in activities such as negligence, racketeering, public nuisance and violation of unfair competition law. A Seattle school district filed a similar lawsuit against the same three companies in January.

"Powerful corporations who wield unmatched, highly concentrated technology in pursuit of profit are knowingly creating this unprecedented mental health crisis," the lawsuit states. "YouTube, Snap, TikTok and their related companies have carefully cultivated the crisis, which is a feature — not a bug — of their social media products."

Comment: One wonders why Meta was not included in the suit.


Yoda

DeSantis, 18 GOP governors form alliance to combat Biden's ESG push: 'Direct threat to the American economy'

sarah huckabee desantis noem
© Al Drago | Cheney Orr | Ting Shen
Arkansas Gov. Sarah Huckabee Sanders, Florida Gov. Ron DeSantis and South Dakota Gov. Kristi Noem all signed the joint statement against Biden's ESG program.
Gov. Ron DeSantis, R-Fla., joined forces with 18 GOP governors to reject President Joe Biden's environmental, social and corporate governance (ESG) "agenda," claiming the push is a "direct threat" to the economic freedom of American retirees.

Governors in Alabama, Alaska, Arkansas, Georgia, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Tennessee, Utah, West Virginia and Wyoming formed the alliance Thursday in what they described as an effort to ensure American retirement funds are not used for "woke" investments.

"Yet again, President Biden put his political agenda above the wellbeing and individual freedoms of hardworking Americans," the Republican governors wrote. "We as freedom loving states can work together and leverage our state pension funds to force change in how major asset managers invest the money of hardworking Americans, ensuring corporations are focused on maximizing shareholder value, rather than the proliferation of woke ideology."

Comment:


Eggs Fried

Dollar Tree ditches egg sales until 'later' this year due to soaring prices

eggs
© iStock
Dollar Tree Inc has stopped selling eggs in its Dollar Tree stores, a spokesperson for the U.S. retailer confirmed late Tuesday, as the staple food has skyrocketed in price by as much as 60% during the fall.

The chain, which is increasingly a go-to grocery destination for cash strapped shoppers, has roughly 8,000 Dollar Tree stores across the United States and Canada. Its spokesperson said it does not anticipate being able to bring eggs back into its stores for sale until later this fall.

Egg prices hit record highs of close to an average of $5 a dozen in January, according to economic data, due to a global outbreak of the avian flu. In consumer pricing data released by the government Tuesday, egg prices fell 6.7% in February.

Comment: Fearmongering to keep the dependence going:

'Please don't get a chicken': New Zealand egg shortage sparks scramble for poultry


Mr. Potato

Buffoonish virtue-signal: Newark officials signed diversity-inspired partnership with FAKE COUNTRY led by Indian cult leader

newark sister city fake country
© YouTube/TAPinto Newark
Newark officials partnered with the Hindu nation of the United States of Kailasa. But six days after signing the agreement, the nation appeared to be nonexistent.
"Jesus Newark, how can an entire city get catfished?" The Daily Show's Kal Penn said.

It's a textbook case of an overseas scam — except the victim was an American city.

Officials in Newark, New Jersey, were initially thrilled to partner with the Hindu nation of the United States of Kailasa.

The only problem? The country doesn't exist.

After hosting "delegates" from the made-up country at a formal ceremony in January, City Hall has admitted that the whole thing was a scam led by notorious Indian fugitive Swami Nithyananda.

Comment: The Post Millennial adds:
A City Hall spokesperson stated afterward, "Although this was a regrettable incident, the city of Newark remains committed to partnering with people from diverse cultures in order to enrich each other with connectivity, support, and mutual respect."

Since the news broke, officials have been slammed by everyone from citizens, to pundits, to late-night TV show hosts.

"Jesus Newark, how can an entire city get catfished?" The Daily Show's Kal Penn quipped. "Not a single person realized they'd never heard of this country before? Not on a globe, not at the Olympics? ... There must have been so many red flags, the biggest one being that anyone wanted to be sister cities with Newark!"

Fox News' Jesse Watters questioned why nobody had bothered to do any research on the alleged nation beforehand, adding that delegates from Kailasa had managed to dupe the United Nations as well, sneaking into a meeting in Geneva in February.

According to BBC, a UN official told the delegates that their submissions were "irrelevant" and "intangible" to the issues being discussed, and would ignore the statements made to two Geneva public meetings.



Nuke

Thousands of pounds of uranium go missing in African nation: UN nuclear watchdog UPDATE

Warning
© Unknown
The International Atomic Energy Agency said in a confidential report this week that 2.5 tons of natural uranium have gone missing from a site in Libya that is not controlled by the government.

Reuters reported that the U.N. nuclear watchdog informed member states of the news this week, according to documents viewed by the publication.

A statement from IAEA chief Rafael Grossi said:
"The inspection was supposed to happen last year, but had to be postponed because of the security situation in the region. Investigators found that 10 drums containing approximately 2.5 tons of natural uranium in the form of UOC (uranium ore concentrate) previously declared by (Libya) ... as being stored at that location were not present at the location. The loss of knowledge about the present location of nuclear material may present a radiological risk, as well as nuclear security concerns."
Officials said that investigations were already underway to locate the missing nuclear materials. The name and location of the site were not revealed, although officials said that getting to it required "complex logistics."

Comment: UPDATE: 16 March 2023 Over 2 tons of 'missing uranium found in Libya:
More than 2 tons of missing radioactive uranium have been found near a warehouse in southern Libya after its disappearance sparked nuclear safety concerns, according to military officials.

Khaled Mahjoub, a spokesperson for the self-styled Libyan National Army (LNA), said in a statement Thursday that the 10 barrels had been recovered, though a video he shared showed workers counting 18 containers.

Some of the blue-painted drums in the video displayed what appeared to be batch numbers. However, the footage did not show the barrels being opened.

According to the IAEA, the facility is located in an area that is not under the control of the Government of National Unity in Tripoli and requires "complex logistics" to reach it.

Mahjoub said the site was a warehouse near the border with Chad that the IAEA last visited in 2020 and sealed with red wax. The barrels were discovered abandoned about 3 miles from the storage facility.

He speculated that a group of separatist fighters from Chad had raided the warehouse and stolen the barrels, hoping they might contain weapons or ammunition, but had subsequently ditched them.

The IAEA said it was aware of media reports that the uranium has been found and was working to verify them. The UN agency earlier warned that the missing uranium could pose a nuclear security threat.

Although natural uranium ore cannot immediately be used to make a nuclear bomb, a group armed with expertise and the needed equipment, including centrifuges, could refine each ton of the material to 12 pounds of weapons-grade uranium.



Radar

Manhunt launched for helicopter thief who crashed $7.5m aircraft in nighttime raid on private airbase in Sacramento

stolen chopper helicopter crash

A manhunt is underway for a thief who crashed a $7.5million helicopter after his attempts to start four others failed in a private Sacramento airbase.
A manhunt is underway for a thief who crashed a $7.5million helicopter after his attempts to start four others failed at a private Sacramento airbase.

The suspect broke into Sacramento Executive Airport in the early hours of Wednesday morning with the intention of stealing an aircraft.

He tried to start four different helicopters before he got into a fifth and managed to turn the engine on but he failed to get it airborne and crashed on the tarmac damaging multiple other choppers.