The U.S. 5th Circuit Court of Appeals ruled Tuesday that two Texas residents are likely to prevail in their legal challenge to a Biden administration rule that redefined firearms with pistol braces as heavily regulated short-barreled rifles (SBR), ordering the district court to reconsider issuing a permanent injunction to block the rule.
The case, styled Mock v. Garland, was brought by attorneys with the Firearms Policy Coalition on behalf of Texas residents William Mock and Christopher Lewis. The plaintiffs sought to block the administrative rule that would subject firearms, otherwise legally classified as pistols, as SBRs, which are heavily regulated under the National Firearms Act (NFA).
To purchase an NFA-regulated weapon, a buyer must undergo a background check, pay $200 in taxes to the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and wait roughly a year. NFA firearms are also subject to a litany of additional regulations, the violation of which can subject the owner to substantial civil and criminal penalties.
Gun owners were given four months after the rule change in January to remove braces from their pistols and either destroy, register, or surrender them to the ATF, or else be subject to criminal charges after the grace period.
Snip.
The 5th Circuit’s decision noted that the rule was challenged on two fronts, the first being that the ATF failed to follow proper procedure by giving public notice of one version and then implementing a different final version with a broader application.
Because the court sided with the plaintiffs on the administrative procedural challenge, determining they would likely succeed on the merits at trial and that they meet the requirements for injunctive relief, the court stopped short of addressing the constitutional challenge. However, Justice Don Willet wrote in a separate concurring opinion that he suspects the rule would likely “not withstand constitutional muster.”
The majority opinion remanded the case to the U.S. District Court for the Northern District of Texas, where the original judge had denied the plaintiff’s past request for an injunction blocking the rule.
For now, the appeals court is maintaining an order blocking enforcement of the rule against FPC and its members until the district court issues a new ruling on its injunction request that complies with the appeals court’s findings.
Several other legal challenges to the pistol brace rule are presently ongoing in federal district courts, with challenges from Gun Owners of America and the Wisconsin Institute for Law and Liberty prevailing earlier this year in securing injunctions to block the rule’s enforcement for the organizations’ members.
The pistol brace rule would retroactively make millions of law-abiding Americans criminals for not registering them (which, for the left, is no doubt the point). Government agencies should not be able to unilaterally and retroactively declare ownership of legally obtained goods suddenly forbidden on penalty of law.
Hopefully the pistol brace rule gets overturned entirely.
After every media-hyped shooting, ambulance-chasing lawyers come out of the woodwork to file lawsuits against the manufacturer of whatever gun this month’s eel-brain happened to lay his hands on to do the deed, despite the Protection in Lawful Commerce in Arms Act.
This time they’re doing it for the Uvalde shooting, but they’ve evidently been so sloppy in filing their lawsuit that they’re facing contempt charges.
In the aftermath of the mass shooting at Robb Elementary School that killed 19 students and two teachers, California-based attorney Charles Bonner is facing heat over a federal case to sue the gun store and the manufacturer of the rifle used in the massacre, Daniel Defense.
Bonner told media in August 2022 that he had been hired by Uvalde residents, consisting mostly of families of Robb Elementary students, to file civil lawsuits against numerous entities over the shooting.
Now, he and other attorneys involved are facing both sanctions and criminal contempt charges in federal court over the lax handling of the case.
Both Daniel Defense and gun store Oasis Outback, which sold the rifle to the gunman, have been named as defendants in the federal civil lawsuit seeking $6 billion in damages. Prior to filing the lawsuit, Bonner had announced his intent to file a $27 billion class action lawsuit, but it is unclear if he intends to seek additional damages from other parties in separate lawsuits.
The case was initially filed in the Austin division of the Western District of Texas; however, the case was transferred to the Del Rio division, where the court instructed the plaintiffs to serve the defendants before the case could proceed.
This simple process is where the case began to fall apart procedurally.
Numerous documents beginning in June show federal Judge Alia Moses giving multiple orders to the plaintiff attorneys to properly serve the defendants, writing, “The Defendants must be afforded due process instead of plaintiff counsel’s apparent wish to improperly litigate this case ex parte,” accusing the attorneys of using the case to serve their interests alone.
But the lax handling of the case didn’t stop with the first admonishment by the court.
Moses set a hearing to discuss why the plaintiffs failed to properly serve the defendants, a hearing the attorneys did not attend.
“Serving defendants the lawsuit” is hardly a deep, dark secret of the legal profession. Indeed, it’s why process servers exist as a profession.
This prompted Moses to set another hearing, ordering the plaintiffs’ legal counsel to appear in a hearing where the court will consider sanctions for failing to follow its instructions and potentially issue contempt charges for failing to appear.
“The Court will consider additional sanctions for the failure to appear and will consider referring the plaintiff’s counsel for contempt prosecution based on the failure to appear at the sanctions hearing,” Moses’s order states.
Lawyers, even ambulance chasers, are supposed to be smarter than the average bear. But this is a pretty basic, stupid, unforced error on Bonner’s part…
The recoil shockwave of the .577 Tyrannosaur visibly travels through one of the Slow Mo Guys’ back muscles. It really emphasis the felt recoil of that monster.
At 82,000 frames a second, you can see a flash of light from bullet impact as it enters the ballistics gel. They talk about naming this “The Kentucky Effect.”
The bullet sucks the fireball from the initial shot in, then the collapsing cavitation of the gel reignites the gases.
4 Bore is an obsolete black-powder rifle with a (roughly) 1 inch barrel used for hunting big game in Africa. Scott at Kentucky Ballistics got a modern version of that and decided to test it against body armor. Consider this as the latest in the “BattleSwarm features videos of absurdly large rifle calibers for your viewing pleasure.”
Though it has a 2,150 grain bullet producing over 200 pounds of felt recoil, the round is too flat and slow to actually penetrate the body armor, but it packs so much force that it just drags most of the body armor into the chest cavity. The zombie torsos do not fare well.
Thanks to Dave Hardy for bringing the video to my attention.
Busy as hell and I have a cold, but I soldier on. LinkSwarm! Russian coup! Texas! Pedophiles! Portland! Braaaaiiiinnnnnns!
I cover the world!
“The owner of the Wagner private military contractor made his most direct challenge to the Kremlin yet on Friday, calling for an armed rebellion aimed at ousting Russia’s defense minister. The security services reacted immediately by calling for the arrest of Yevgeny Prigozhin…Prigozhin claimed early Saturday that his forces had crossed into Russia from Ukraine and had reached Rostov, saying they faced no resistance from young conscripts at checkpoints and that his forces ‘aren’t fighting against children.'” Unconfirmed reports of fighting elsewhere in Russia. Developing…
The City of Dallas is requiring employees to undergo taxpayer-funded transgender reeducation training any time one of their co-workers comes out as “transgender.”
According to internal documents obtained from the City of Dallas by The Dallas Express, “non-transitioning” employees are being forced to undergo reeducation training “to support an inclusive and productive workplace environment for all employees.”
The City of Dallas’ “gender transition toolkit” explains that a transitioning employee should find a “trusted” supervisor or manager as a “first point of contact” to help them through their workplace transition.
The document includes a list of gender terms and definitions. It then moves on to require employees to work with gender-confused co-workers, allowing the “transitioning” employee to use whichever bathroom or locker room at work they feel most comfortable with, ignoring the comfort of other employees.
Speaking of pedophiles: “A former CNN television producer who had pleaded guilty to luring a 9-year-old girl into illegal sexual acts was sentenced Tuesday to more than 19 years in prison and an additional 15 years of supervised release during a U.S. District Court hearing in Vermont. John Griffin of Stamford, Connecticut, pleaded guilty in federal court in December to using interstate commerce to entice and coerce the girl to engage in sexual activity at his Vermont ski house.” (Hat tip: Ed Driscoll at Instapundit.)
In the summer of 2020, Portland, Oregon, became the poster child for American urban disaster zones. During the day, tens of thousands of citizens protested peacefully against police brutality following the murder of George Floyd in Minneapolis. But everything changed after dark. Nonviolent demonstrators with jobs, school assignments, and kids to raise went home; hundreds of anarchists swarmed in to take their place and waged a low-grade insurgency against the city. They fought pitched battles with the cops—throwing rocks, frozen water bottles, fireworks, buckets of excrement, and even Molotov cocktails. They attacked coffeehouses, immigrant-owned restaurants, mom-and-pop retail stores, banks, museums, churches, bus stops, and the Multnomah County Democratic Party headquarters with baseball bats, crowbars, and hammers. Most were military-age white males wearing all-black clothing and hiding their faces. The violence kept up, night after night, week after week, and month after month, into the winter, long after the rest of America had calmed down. My city had become the most politically violent place in the country, and I got worried e-mails from people I knew around the world—even in the Middle East!—asking me if I was okay and why on earth this was happening.
A crime wave followed. Shootings and homicides exploded 300 percent between 2019 and 2022, robberies rose 50 percent in 2022 alone, vehicle thefts hit record highs, and work-order requests for graffiti removal shot up 500 percent between 2020 and 2022. The City of Roses suffered 413 shootings in 2019 but 1,306 in 2022 and nearly twice as many homicides as San Francisco, though Portland is only three-fourths its size. Meantime, statewide crime actually declined from 2019 to 2021.
The homelessness crisis also intensified. The slow-motion collapse of Oregon’s mental-health infrastructure, a dramatic surge of cheap and deadly fentanyl and a far more potent and addictive form of psychosis-inducing meth, and a crippling housing shortage led to the formation of more than 700 tent cities in residential neighborhoods and business districts across the city.
But while it’s too soon to declare that Portland’s troubles have passed, the worst may now be over. Despite ongoing woes, Portland looks and feels much better than it did in dystopian 2020. The riots stopped, and the crime wave seems to have peaked, with shootings down by nearly 40 percent and homicides down more than 50 percent in the early months of 2023. A sober mood shift has taken over the city. Voters passed a ballot measure to restructure city government, while the three newest elected officials on the city council are steering Portland in a different direction. The city, county, and state are taking steps to reverse the decline.
Portland is suffering a serious livability crisis. Eighty-eight percent of respondents in early 2022 told the Portland Business Alliance that the quality of life is worsening. Portland is hardly the most dangerous city in America: the homicide rate in St. Louis is more than four times higher, with 65 murders per 100,000 people, compared with Portland’s 15 in 2022. Portland’s rate peaked at more than double the national average, but of all the cities with higher crime rates than Portland, only Chicago gets as many national headlines. That’s probably because Portland’s increase in crime was the worst in the country. No other city’s homicide rate rose so spectacularly. And unlike St. Louis, Baltimore, and other notorious hot spots, Portland was recently a destination city that touted its high quality of life as a reason to move there.
Of late, though, rather than attracting new residents, Portland has actually lost population, either to the suburbs or out of state. “I’ve never seen money move out of here,” commercial real-estate salesman Stu Peterson told Willamette Week. “Nobody ever wanted to leave Oregon. It’s a beautiful place. Most evacuees are high-wage earners who are fed up with the crime, taxes, and homelessness, in that order. There’s an ugly spiral.” Real-estate agent Justin Harnish described a client who left downtown Portland for the suburb of Lake Oswego after she saw a woman stab another woman in the face with scissors.
Accompanying the crime wave is a drastic staff shortage at the Portland Police Bureau. Portland now has fewer than 800 sworn officers, a smaller number than it had decades ago, when the city was barely half the size it is now. And with the surge in violent crime, the police have little time to deal with anything that isn’t life-threatening. Prioritizing shootings and other emergencies, they’re forced to neglect break-ins, stolen cars, vandalism, and just about everything else. The traffic police unit has been defunded, reduced to a single full-time traffic cop—not for ideological reasons but because the city has no one to staff that division.
Part of the blame rests with the months of demoralizing anti-cop violence in 2020, but Portland would probably be short of police officers anyway. Every city agency, from fire and rescue to the transportation bureau and the public defender’s office, faces staff shortages now. And while a shrunken police force didn’t cause Portland’s crime wave on its own, a police department that can barely react to anything but emergency calls aggravates the problem. Criminals behave as though they can get away with essentially anything and commit far more crimes than they would if they were investigated, arrested, and prosecuted swiftly. The Woodstock neighborhood, where Joe Biden won 88 percent of the vote, is considering hiring its own private security force.
Snip.
I spent more time talking to my neighbors that year than I ever had before or have since. A lot of us suddenly became friendlier outside our houses, and we weren’t talking about sports and the weather. Residents and business owners alike worried about where things were headed and expressed dismay at the city’s inability to defend itself. I didn’t talk with a single person who thought that everything was okay, that city hall was on top of it, or that the anarchists were not a menace. And nobody could understand why the homeless camps at the elementary school down the street or at the park hadn’t been cleared. No, I didn’t conduct my own scientific public opinion survey, but it was obvious that regular people were nearing the end of their rope and that the status quo was bound to be upended.
In 2021, that’s exactly what happened. A tsunami of outrage inundated the mayor, the city council, and the police bureau. Phones rang nonstop. Furious citizens shouted at meetings. Newspaper editors published scathing letters, and journalists at mainstream outlets covered distressed neighborhoods and interviewed disgruntled citizens while largely ignoring the activist set that booed every conceivable solution and told civilians that the problems were in their heads. Lawsuits against the city proliferated. Polls showed city council members languishing on political death row, with approval ratings in the teens.
Though most residents still wanted accountability for bad cops and citizen oversight of the police bureau, the complaints were primarily about crime, about how the police hardly ever show up anymore, and about disorder dragging neighborhoods down. Even some of the fashionable middle-class neighborhoods endearingly satirized in the Portlandia comedy series were enduring weekly gunfire.
In the fall of 2022, 82 percent of Portland respondents in an Oregonian poll said that they wanted more cops. If some Portlanders felt overpoliced a few years ago, hardly anyone felt that way after the chaos, with a mere 15 percent saying that they wanted fewer officers in 2021.
Before the city council elections got going in 2022, voters fired repeated warning shots in public opinion surveys. An overwhelming 85 percent of respondents said that they found the city council ineffective, with a clear majority describing it as “very ineffective.” For a while, it looked as though Portland was gearing up to fire every single official in a landslide election.
Two city council members, Dan Ryan and Jo Ann Hardesty, ran for reelection last year. Ryan managed to defy expectations and win despite the temper in the city, though it’s easy to understand why: he set aside his ideological views and changed with the times. Though he first ran during a special election in early 2020 on a campaign promising to cut police funding, he soon reversed himself. Anarchists vandalized his home seven times because he refused to cut the police budget.
Hardesty didn’t fare as well. Pushing bills to defund the police and opposing the cleanup of homeless camps, she put herself wildly out of step with her constituents. Mingus Mapps, a moderate on the council who had easily dispatched the left-wing populist Chloe Eudaly two years earlier, endorsed Hardesty’s challenger, Rene Gonzales, and bluntly said: “It is time to put ideology aside and elect people who will fight for Portland. I need colleagues who use debate, reason, and logic to solve our many crises.” Gonzales said, “Our once beautiful city is struggling in ways that were unfathomable a short time ago. . . . City hall’s ineffective, ideologically driven policies are ruining the city we used to proudly call home.” Gonzales won, and Portland replaced the city council’s last progressive firebrand with a centrist. It was the kind of event that marks the end of an era.
Sounds a lot like Austin, except for the sobering-up part. (Also, it’s good to read Michael Totten again. He seemed to disappear from view for several years. Probably because he was writing for The Bulwark…)
Speaking of Portland, the homeless drug addict who said that living on the streets of Portland was “too easy” is now back with her family and getting treatment. They thought she was dead…
Our Glorious Elites try mightily to keep us peons from expressing #WrongThink, two high profile media firings, and more Blue City decline. Enjoy a short but sweet Friday LinkSwarm!
It transpires that the infamous incident before the 2020 election in which 50 former intelligence officials signed an open letter declared a New York Post expose about Hunter Biden’s laptop to have the “classic earmarks of a Russian information operation” was instigated at the behest of the Joe Biden campaign. This at least is the allegation in a letter to Secretary of State Anthony Blinken released by Jim Jordan, chair of the House Judiciary Committee, and Subcommittee on the Weaponization of Government.
In that letter, which is not easy to find, you’ll see three snippets of dialogue from questioning of Morell, who appears to have organized the open letter. In the first snippet, he explains that the idea originated with a call from Blinken, then of the Biden campaign.
I knew things were bad in my world, but the truth turned out to be much worse than I could have imagined.
My name is Andrew Lowenthal. I am a progressive-minded Australian who for almost 18 years was the Executive Director of EngageMedia, an Asia-based NGO focused on human rights online, freedom of expression, and open technology. My resume also includes fellowships at Harvard’s Berkman Klein Center and MIT’s Open Documentary Lab. For most of my career, I believed strongly in the work I was doing, which I believed was about protecting and expanding digital rights and freedoms.
In recent years, however, I watched in despair as a dramatic change swept through my field. As if all at once, organizations and colleagues with whom I’d worked for years began de-emphasizing freedom of speech and expression, and shifted focus to a new arena: fighting “disinformation.”
Long before the #TwitterFiles, and certainly before responding to a Racket call for freelancers to help “Knock Out the Mainstream Propaganda Machine,” I’d been raising concerns about the weaponization of “anti-disinformation” as a tool for censorship. For EngageMedia team members in Myanmar, Indonesia, India, or the Philippines, the new elite Western consensus of giving governments greater power to decide what could be said online was the opposite of the work we were doing.
When Malaysian and Singaporean governments introduced “fake news” laws, EngageMedia supported networks of activists campaigning against it. We ran digital security workshops for journalists and human rights advocates under threat from government attack, both virtual and physical. We developed an independent video platform to route around Big Tech censorship and supported campaigners in Thailand fighting government attempts to suppress free expression. In Asia, government interference in speech and expression was the norm. Progressive activists in search of more political freedom often looked to the West for moral and financial support. Now the West is turning against the core value of free expression, in the name of fighting disinformation.
Before being put in charge of tracking anti-disinformation groups and their funders for this Racket project, I thought I had a strong idea of just how big this industry was. I’d been swimming in the broader digital rights field for two decades and saw the rapid growth of anti-disinformation initiatives up close. I knew many of the key organizations and their leaders, and EngageMedia had itself been part of anti-disinformation projects.
After gaining access to #TwitterFiles records, I learned the ecosystem was far bigger and had much more influence than I imagined. As of now we’ve compiled close to 400 organisations globally, and we are just getting started. Some organisations are legitimate. There is disinformation. But there are a great many wolves among the sheep.
I underestimated just how much money is being pumped into think tanks, academia and NGOs under the anti-disinformation front, both from the government and private philanthropy. We’re still calculating, but I had estimated it at hundreds of millions of dollars annually and I’m probably still being naive – Peraton received a USD $1B dollar contract from the Pentagon.
In particular, I was unaware of the scope and scale of the work of groups like the Atlantic Council, the Aspen Institute, the Center for European Policy Analysis and consultancies such as Public Good Projects, Newsguard, Graphika, Clemson’s Media Forensics Hub and others.
New York City Democratic Mayor Eric Adams ripped President Joe Biden’s policies on the southern border Friday, saying that the White House’s position on the issue has turned the Big Apple into a disaster.
Adams has repeatedly asked for assistance from the federal government as New York City deals with thousands of illegal immigrants who have made their way to the city thanks to Biden’s lax border policies. New York City will spend $4.2 billion to house and care for illegal immigrants by the middle of 2024.
“The city is being destroyed by the migrant crisis,” the first-term mayor said during a panel discussion hosted by the African American Mayors Association, the New York Post reported.
The Democrat then said that his city would have seen the biggest financial turnaround in the city’s history if it hadn’t been for the illegal immigration crisis.
“If you removed the $4.2 billion that have been dropped into my city because of a mismanaged asylum seeker issue, you [would have] probably witnessed one of the greatest fiscal turnarounds in the history of New York City,” he said.
Adams is delusional if he thinks illegal aliens alone are destroying his city. Graft, corruption, high crime engendered by leftwing Social Justice policies, high taxes, horribly burdensome regulation, and all the other hallmarks of undivided Democratic Party rule all played bigger roles in New York City’s demise. But the extra illegal aliens didn’t help. So how do you think Texas citizens have felt about the crisis all this time?
“Dem Bigwigs Caught Hobnobbing With Secret Chinese Police Mole.” “New York Sen. Chuck Schumer was recently caught on video rubbing elbows with one of two men arrested for running a secret — and illegal — Chinese police station in New York City’s Chinatown. The hobnobbing occurred at a gala for the Fukien American Association.” (Hat tip: Stephen Green at Instapundit.)
“Bud Light’s Marketing VP Takes a Leave of Absence and Will Be Replaced.” Not good enough. Alissa Heinerscheid needs to be fired for cause for destroying billions in shareholder value.
Taking the next two in the order they were announced, not order of importance: Don Lemon fired from CNN. Also:
House Speaker Kevin McCarthy has laid out the devastating results of runaway government spending on the middle class and why it’s so important to claw back lost ground for the average American, who has “received a pay cut for 24 consecutive months … as inflation has persisted.”
He also noted the average American family has lost the equivalent of more than $7,000 in annual income.
There is a direct link between spending, borrowing and printing trillions of dollars, and these disastrous results for Americans.
President Biden has spent trillions of dollars the nation didn’t have.
These unchecked costs drove the deficit to record highs and pushed the debt over $31 trillion.
A former Connecticut Planned Parenthood honcho took his own life days after police failed to arrest him on child pornography charges — botching the raid by knocking down the door of the suspect’s New Haven neighbor.
Tim Yergeau, 36, the former director of strategic communications at the Southern New England branch of Planned Parenthood, died by suicide on Tuesday amid a child pornography investigation in Connecticut last week.
The Biden administration on Thursday unveiled a proposal that would prohibit schools from instituting policies that “categorically ban transgender students from participating on sports teams consistent with their gender identity.” The policy would allow schools to implement certain limitations in the interest of fairness or safety, however.
The proposed rule, which would impact any school or college that receives federal funding, would expand Title IX protections to include gender identity. Under the proposal, a “one-size-fits-all” ban on transgender athletes playing on teams that match their stated gender identity would be a violation of Title IX. The rule, which is likely to face challenges, will face a lengthy approval process.
This is, in fact, the exact opposite of the text of Title IX, which provides special protection for biological women, not men pretending to be women.
Under the radar, a package of bills is ramming through sweeping changes that will reorient our public schools around a new paradigm — subordinating academic basics to an obsessive, politicized preoccupation with race and social justice activism.
“Critical Social Justice” ideology (CSJ) — the vehicle for manipulating our young people into adopting this worldview — is laced strategically through a variety of bills, including “ethnic studies” (HF 1502), “Teachers of Color” (HF 320) and now the House and Senate omnibus education bills (HF 2497/SF 2684).
Taken together, this legislation will inject reductive, racialized thinking into every classroom in Minnesota’s approximately 500 school districts and charter schools; change the fundamental mechanics of education in our state; and give the Minnesota Department of Education (MDE) and the Professional Educator Licensing and Standards Board (PELSB) broad new powers that amount to an end-run around our state’s hallowed tradition of local control.
Here’s a story I missed earlier: “Kazakhstan Impounds Property of Roscosmos Subsidiary.” That’s the Russian company that’s the main operator of Baikonur spaceport. Haven’t seen any resolution to this, mainly because Russia is so broke thanks to mismanagement, sanctions, and an illegal war of territorial aggression.
Jay Leno drives the 1,025 horsepower 2023 Dodge Challenger SRT Demon 170. I have an irrational desire to own something with a Hellcat engine, which I need like I need a hole in my head. Plus I like the look of the Shelby GT-500 Mustang better, and I’m not buying one of those either.
“Disney has proudly employed sex predators for years, and this act of aggression by DeSantis will force thousands of our proud pedo-American workers to leave the park to stay outside the 1,000-foot radius required by law,” said Disney CEO Bob Iger. “This is tyranny!”
You probably remember Scott of Kentucky Ballistics’ little oopsie (as he calls it), when a spicy round blew up his 50 cal and almost killed him. Since that brush with death he’s deliberately blown other firearms under more controlled conditions and filmed the results to show the failure modes.
This time, however, he’s teamed up with The Slow-Mo Guys to blow up some guns at exceptionally high frame rates.
They blow up both an AR-15 and a .300 Winchester Mangnum rifle. The most interesting part for me was seeing that the explosion rips through the bottom of the AR’s magazine before the top of the gun starts flying.
But wait! There’s more! Here’s Scott and the Slow-Mo Guys playing Kentucky Roulette for some close up demolition.
More on the collapse of Silicon Valley Bank, Syria gets spicy again, woke companies like Disney are having massive layoffs, and Sig Saur gets into the Killbot business. It’s the Friday LinkSwarm!
Courtesy of Bloomberg’s reporting, it appears that not only were insiders dumping their shares faster than syphilitic hooker, there were loading up on loans from the bank at a scale that makes a mockery of any regulatory oversight…
”
Yes, that’s real.
Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022 – a record dollar amount of loans going back over 20 years.
Many questions come to mind – what were the terms, who were the recipients, what was the collateral?
But, sadly, we will likely never know.
However, we do note that the banking execs may be facing a serious shortfall (like their bank): if the loans were collateralized by SVB shares for example, those shares are now worthless, leaving the loan-heavy C-suite left to come up with the cash to repay the loans (and no, these loans don’t disappear with the bank’s liquidation).
Between that and the insider share dumping, people need to go to jail.
After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and “in over his head.” Numerous central bank officials and globalist organizations jumped into the debate almost immediately, arguing that FTX was a perfect example of why centralized regulation of crypto and digital currencies was necessary. They claimed that without oversight by banking elites, disaster was inevitable.
Of course, what they did not mention was that FTX and Sam Fried already had extensive connections with globalist groups including the World Economic Forum. In fact, the very basis of Fried’s business model was the WEF’s “Stakeholder Capitalism” theory, which he often referred to as “Effective Altruism.”
Stakeholder Capitalism is essentially the opposite of free markets – It is a socialist/globalist framework which uses corporations as a kind of economic enforcement tool. Corporations are already highly socialistic in their operations, and their existence is completely dependent on their special relationship with government. Corporations are created through government charter, enjoy special protections under “corporate personhood” laws and avoid direct consequences for criminal activities through limited liability.
Many corporations are not even allowed to fail because governments backstop their operations. That’s socialism, not free markets. However, “stakeholder capitalism” expands on this dynamic a hundred-fold.
Where free markets assert that businesses must make profit their primary objective for the overall economy to function, the WEF asserts that companies including banking institutions have a social obligation that goes beyond making money. To the typical leftist this probably sounds like a Utopian vision filled with promise, but to anyone that actually understands economics it sounds like a recipe for the collapse of civilization.
The WEF paints stakeholder capitalism an effort to reign in the power of the corporate system in favor of social causes. In reality, it’s a way to give corporations ultimate power over everything, including ultimate influence over public behavior.
We have seen extensive evidence of this through widespread corporate ESG investment programs implemented in the past several years. It is no coincidence that the invasion of woke ideology into the mainstream happened at the exact same time that ESG-based lending accelerated.
The institutions lending to various companies were able to set social rules for access to credit, and these rules required businesses to adopt far-left politics in their marketing and policies as a result. Stakeholder capitalism is about homogenizing all business into a single ideological entity – Instead of competing with each other for market share through innovation, companies have been abandoning merit based competition and are colluding to saturate the mainstream with social justice cultism, climate change propaganda and globalist rhetoric.
By making corporate elites “responsible” for society, we give them the power to engineer society.
However, the WEF’s model of false altruism is turning out to be a disaster for corporate survival. I have to wonder now if this was the intent all along – To create a kind of ESG fueled woke financial bubble that was always intended to come crashing down, leaving the western world in ruins.
Snip.
Looking into SVB’s operational history, the company was a woke nightmare.
Take a gander at their 66 page ESG report compiled in 2021 to get a sense of how far to the extreme political left the bank was. SVB is the pinnacle example of why “Get Woke, Go Broke” is more than a mantra, it’s a rule.
Digging even deeper we then find that SVB’s leadership was highly involved in the WEF and their Stakeholder Capitalism Metrics (SCM), along with corporate governance. SVB was not only implementing every single policy the WEF outlines in its agenda, they were reporting back to the WEF on their progress.
SVB’s capital exposure was heavily tied up in securities, but also venture capital for woke tech startups, climate change related projects and leftist activist groups which qualified for ESG loans; everything from BLM to Buzzfeed. In other words, they were investing aggressively into money-pit projects that devoured cash and gave nothing back. The real question is, how many US banks are involved in ESG and WEF operations at the same level as SVB? Dozens? Hundreds?
“U.S. Carries Out Airstrikes in Syria after Iranian Drone Kills U.S. Contractor, Wounds Five Service Members.” As I’ve mentioned before the withdrawal of most U.S. troops from Iraq and Syria doesn’t mean all. And the same goes for Africa.
“56% of liberal white women age 18-29 have been diagnosed with a mental health condition.” Well, you already said “liberal”…
Louisiana state Rep. Francis Thompson switched from the Democratic to the Republican Party, given Republicans a super-majority in both houses and thus the ability to override any veto by Democratic Governor John Bel Edwards. ““The push the past several years by Democratic leadership on both the national and state level to support certain issues does not align with those values and principles that are a part of my Christian life,” said Thompson.
World Athletics, the governing body for international track and field competition, has banned men from international competition. “I’ll take ‘Headlines no one in the 20th century would understand’ for $600, Alex.”
“Dallas Bar Cancels All-ages Drag Event.” Funny how the threat of having your TABC license yanked concentrates the mind…
Get Woke, Go Broke Part 1: After a string of expensive bombs and streaming losses, Disney to lay off 7,000 employees.
Get Woke, Go Broke 1.5: “Woke Marvel Producer Victoria Alonso Gone From MCU.” She was one of the central figures pushing Disney to adopt a pro-groomer position in Florida. The ostensible reason for her firing was breach of contract for producing a non-Marvel movie, but a lot of industry insiders think her outspoken wokeness was a key reason for her getting the axe.
Get Woke, Go Broke Part 2: “Twitch Streaming Service To Sack 36% Of Employees.”
SIG Sauer announced late last week it has acquired General Robotics, one of the world’s premier manufacturers of lightweight remote weapon stations and tactical robotics for manned and unmanned platforms as well as anti-drone applications. The companies have been working in concert for some time, a fact made obvious at January’s SHOT Show when they debuted a Polaris ATV equipped with a General Robotics PitBull remote weapons station that aimed and fired the vehicle-mounted SIG MG 338 belt-fed machine gun remotely.
“This acquisition will greatly enhance SIG Sauer’s growing portfolio of advanced weapon systems,” said Ron Cohen, president and CEO of SIG Sauer. The team at General Robotics is leading the way in the development of intuitive, lightweight remote weapon stations with their battle-proven solution.”
Here’s Joe Rogan shooting a Pit Viper, which is evidently the 2011 model Wick shoots in the film:
“That is the smoothest gun of all time. It doesn’t move. Like it literally doesn’t move, there’s no recoil.”
It does indeed look pretty cool and easy to shoot, but before you rush out to buy one, keep in mind that: A.) It’s not going to be available for sale until May, and B.) It’s going to set you back about seven grand.
Here Colion Noir interviews a rep for Staccato about the differences between the 1911 and the 2011.
Staccato is in Texas, and their 2011 models start at a somewhat more reasonable $2,499.
(Aside: I like Noir, but he does the “yeah,” “uh-hu” noise thing that tells the person he’s talking to “Yes, I’m following you,” which he needs to learn not to do for filmed interviews.)
Is there significant enough difference between a 1911 and a 2011 to justify the nomenclature change? I’m slightly skeptical, but I’ve never fired a 2011. Maybe the difference is night and day.
Would I buy a 2011? Not right now, mainly because I just picked up a Sig Sauer P365 Micro Compact 9mm as a carry gun last year, and even $2,500 is considerably more than I want to spend on a gun right now. But if the prices drift down to around $1,000 over the next few years, I’d definitely give them a more serious look.
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