ICU Dr: Ventilators should be set for Oxygen Deprivation, not
Respiratory Failure
Newsletter published on April 7, 2020
(1) ICU Dr: Ventilators should be set for Oxygen Deprivation, not
Respiratory Failure
(2) Another Dr. Brownstein video - Kendra's recovery
(3) Main advantage of wearing a Mask (when out) is that it stops you
from touching your face
(4) Navarro challenges Fauci on HCQ
(5) Trump should sack Fauci - "If they sack Fauci, we riot in the streets"
(6) US companies (3M, Honeywell) make masks & other protective equipment
- but their factories are in China
(7) Government expenditure to meet Covid-19 crisis should come from
Monetary Financing, not taxation or debt
(8) Covid-19 shows cost of GLOBALISM & OPEN BORDERS – need to regain
INDEPENDENCE
(1) ICU Dr: Ventilators should be set for Oxygen Deprivation, not
Respiratory Failure
From: Bruce Tanner <brtanner@brucetanner.info> Subject: Great work by
Video author Dana Ashlie
NYC ICU DR with nothing to gain shares INCREDIBLE insight... (10 min) -
Cameron Kyle-Sidell
Patient symptoms are High-Altitude Sickness (Oxygen Deprivation), not
Viral Pneumonia.
Ventilators are wrongly being set to fix Respiratory Failure
Should be set to Oxygen Failure ==
COVID-19 Daily: Ventilator Protocols Questioned, Physician Rights Alicia
Gallegos
April 05, 2020 ==
About Dr. Cameron Kyle-Sidell, MD Dr. Cameron Kyle-Sidell is an
emergency medicine physician in Brooklyn, New York and is affiliated
with multiple hospitals in the area. He has been in practice between
6-10 years. ==
Doctors treating the wrong disease? 1 Last Director12 14,107 Posts. 20
05/04/20 18:30
A NYC physician named Cameron Kyle-Sidell has posted two videos on
YouTube, pleading for health practitioners to recognize that COVID-19 is
not a pneumonia-like disease at all. It's an oxygen deprivation
condition, and the use of ventilators may be doing more harm than good
with some patients. The ventilators themselves, due to the high-pressure
methods they are running, may be damaging the lungs and leading to
widespread harm of patients.
Dr. Cameron Kyle-Sidell describes himself as an "ER and critical care
doctor" for NYC. "In these nine days I have seen things I have never
seen before," he says. Before publishing his video, we confirmed that
Dr. Kyle-Sidell is an emergency medicine physician in Brooklyn and is
affiliated with the Maimonides Medical Center located in Brooklyn.
In his video (see below), he goes on to warn the world that the entire
approach to treating COVID-19 may be incorrect, and that the disease is
something completely different from what the dogmatic medical
establishment is claiming.
"In treating these patients, I have witnessed medical phenomena that
just don't make sense in the context of treating a disease that is
supposed to be a viral pneumonia," he explains.
He talks about how he opened a critical care using expecting to be
treating patients with a viral pneumonia infection that would progress
into Acute Respiratory Distress Syndrome (ARDS). But that the disease
acted nothing like ARDS. "This is the paradigm that every hospital in
the country is working under," he warns. "And yet, everything I've seen
in the last nine days, all the things that just don't make sense, the
patients I'm seeing in front of me, the lungs I'm trying to improve,
have led me to believe that COVID-19 is not this disease, and that we
are operating under a medical paradigm that is untrue."
More from Dr. Kyle-Sidell: (emphasis added)
In short, I believe we are treating the wrong disease, and I fear that
this misguided treatment will lead to a tremendous amount of harm to a
great number of people in a very short time… I feel compelled to give
this information out.
COVID-19 lung disease, as far as I can see, is not a pneumonia and
should not be treated as one. Rather, it appears as if some kind of
viral-induced disease most resembling high altitude sickness. Is it as
if tens of thousands of my fellow New Yorkers are on a plane at 30,000
feet at the cabin pressure is slowly being let out. These patients are
slowly being starved of oxygen.
And while [patients] absolutely look like patients on the brink of
death, they do not look like patients dying from pneumonia… I suspect
that the patients I'm seeing in front of me, look as if a person was
dropped off on the top of Mt. Everest without time to acclimate.
He goes on to explain that ventilators, in some cases, may be doing far
more harm than good.
When we treat people with ARDS, we typically use ventilators to treat
respiratory failure. But these patients' muscles work fine. I fear that
if we are using a false paradigm to treat a new disease, then the method
that we program [into] the ventilator, one based on respiratory failure
as opposed to oxygen failure, that this method being widely adopted …
aims to increase pressure on the lungs in order to open them up, is
actually doing more harm than good, and that the pressure we are
providing to lungs, we may be providing to lungs that cannot take it.
And that the ARDS that we are seeing, may be nothing more than lung
injury caused by the ventilator.
There are hundreds of thousands of lungs in this country at risk.
In other words, the real disease appears to cause oxygen deprivation in
victims, not pneumonia. This is critically important for all the obvious
reasons, and it raises huge questions about the origins of the
coronavirus and whether there is some additional external factor beyond
the virus that may be causing a combined effect that results in severe
oxygen deprivation.
(2) Another Dr. Brownstein video - Kendra's recovery
There Is Still Hope Out There
Vl: I Just Felt Exhausted. I Couldn't Move. Everything Hurt….
Apr 05 2020
"…..I felt exhausted. I could not move. Everything hurt…..I could not
even make it through a shower….."
This an excerpt from Kendra's testimonial. She had flu-like symptoms for
over a week including sore throat, runny rose, diarrhea, & fever. She
also experienced a shortness of breath.
Kendra talks about the supplements and natural therapies that helped her
recover from her illness. Watching this interview is a great way to end
this week and provide us with the fortitude for the coming week. There
is definitely hope out there!
To All Our Health!
~DrB
Click to hear Kendra's testimonial!
(3) Main advantage of wearing a Mask (when out) is that it stops you
from touching your face
From: Jane Jane <Janeclarkattorney@hotmail.com>
To: Peter Williams <peter29@rogers...snip... <abbiemichelson@mindspring.com>
Subject: Re: IF YOU CARE ABOUT THE FUTURE YOU NEED TO LISTEN TO THIS,
Even if
You Don't Think You Do! - YouTube
Peter: I wanted you to see this video, as it is a lung doctor in NYC
now who is taking care of Coronavirus patients and is the perfect person
to ask about this CV problem.
Comment (Peter M.) This ICU doctor from NYC advises steps you should
take to protect yourself:
Washing hands after touching objects out side your home; distancing; but
also wearing a mask when you're out.
It does not need to be an N95 mask; any mask will do. The main advantage
of wearing a mask is that it stops you from touching your face.
The advice part from from 09:30 to 15:30.
(4) Navarro challenges Fauci on HCQ
Debate heats up over using an anti-malaria drug for COVID-19
By DEB RIECHMANN and ZEKE MILLER
April 6, 2020
WASHINGTON (AP) — President Donald Trump and members of his
administration are growing emphatic in promoting an anti-malaria drug
not yet officially approved for fighting COVID-19, even though
scientists say more testing is needed before it's proven safe and
effective against the virus.
Trump trade adviser Peter Navarro promoted the drug, hydroxychloroquine,
in television interviews Monday, a day after Trump publicly put his
faith in the drug to lesson the toll of the coronavirus pandemic.
"What do I know, I'm not a doctor," Trump told reporters Sunday. "But I
have common sense."
The administration's promotion of the drug comes after a heated
Situation Room meeting of the White House's coronavirus task force on
Saturday, in which Navarro challenged the top U.S. infectious disease
expert, Dr. Anthony Fauci, over his concerns about recommending the drug
based only on unscientific anecdotal evidence.
Navarro, who has no formal medical training, erupted at Fauci, raising
his voice and claiming that the reports of studies he collected were
enough to recommend the drug widely, according to a person familiar with
the exchange who spoke on the condition of anonymity to describe the
Situation Room blow-up.
Fauci has repeatedly said that current studies provide only anecdotal
findings that the drug works. Navarro told CNN on Monday: "I would have
two words for you: ‘second opinion.'"
Hydroxychloroquine is officially approved for treating malaria,
rheumatoid arthritis and lupus, but not COVID-19. Small, preliminary
studies have suggested it might help prevent the new coronavirus from
entering cells and possibly help patients clear the virus sooner. But
those have shown mixed results.
Doctors are already prescribing the malaria drug to patients with
COVID-19, a practice known as off-label prescribing. But Fauci has said
more testing is needed before it's clear that the drug works against the
coronavirus and is safe for COVID-19 patients.
Navarro told Fox News Channel's "Fox & Friends" that doctors in New York
hospitals are already giving out the drug to COVID-19 patients and that
health care workers are taking it in hopes it will protect them from
being infected. And while he acknowledged the Saturday debate with
Fauci, he said that the focus was on whether the administration should
take 29 million doses of the drug in Federal Emergency Management Agency
warehouses and send them to hard-hit cities.
"The media is trying to blow it up as a big big debate, but I can tell
you that within the room the decision was a sound one, and it was
unanimous," Navarro said.
Asked about his credentials for pushing the drug, Navarro cited his
doctorate in social science.
"In the fog of war, we might take more risks than we otherwise would.
And, given the track record of the drug over many many years in treating
malaria that there are side effects but it's been used a lot in lesser
doses, the decisions's been made by many doctors to prescribe it,"
Navarro said. "If it saves lives, that's a beautiful thing ... I think
history will judge who's right on this debate. I'd bet on President
Trump's intuition on this one."
Trump has been enthusiastically supporting the drug, and he announced
Sunday that his administration has amassed 29 million doses for
distribution to areas of the country hard-hit by the coronavirus.
"There's a study out there that says people that have lupus haven't been
catching this virus," Trump said at a Saturday briefing on the virus.
"You know, maybe it's true, maybe it's not. ... There's also other
studies ... that the malaria countries ... have very little of this
virus." [...]
(5) Trump should sack Fauci - "If they sack Fauci, we riot in the streets"
Trump should sack Fauci. He's just a bureaucrat, an agent of the Deep
State, an incompetent at the top like other Federal officials at the
CDC, FDA and FAA. Do they have lifetime employment? Why? They're not
elected; why are they making public policy? - Peter M.
seth offenbach (@sethoffenbach) | Twittertwitter.com › sethoffenbach
If they sack Fauci, we riot in the streets....a safe six feet apart from
one another. end/ For many people with an abusive partner or family
member, being at home may put you in danger. ... I was sent to an
interment camp with my family, without trial or due process, for four
years. ==
Trump Shouldn't Be Able to Fire Fauci for Contradicting Him
Congress should act to protect directors of the various parts of the
National Institutes of Health—of whom Anthony Fauci is one—from the
wrath of the president.
APRIL 1, 2020
Peter M. Shane
[...] If Trump were to believe the #FakeFauci tweets alleging a
conspiracy to undermine the president's public support, he could have
Fauci dismissed or demand that his messages be more upbeat.
Congress can prevent this: It ought to pass a law stipulating that
directors of the centers and research institutes that are part of the
National Institutes of Health—officials like Fauci—should be removable
only for malfeasance, neglect of office, or incapacity, but not for mere
policy differences or politically inconvenient messaging. Similar
protections exist for the heads of numerous independent agencies, such
as the Federal Trade Commission and Social Security Administration.
These protections prevent presidential politics from excessively
influencing an administrator's performance. ==
Trump is reportedly getting frustrated with Dr. Fauci's 'blunt approach'
during White House press conferences
JAKE LAHUT
MAR 24, 2020, 1:28 AM
Dr. Anthony Fauci has become a household name during the coronavirus
outbreak, frequently appearing on TV as a trusted expert on diseases.
Often tasked with setting the record straight on facts misconstrued or
misrepresented by President Donald Trump, Fauci has been left in awkward
positions in White House briefings.
A New York Times report on Monday said that Trump "has become frustrated
with Dr. Fauci's blunt approach at the briefing lectern, which often
contradicts things the president has just said, according to two people
familiar with the dynamic."
Fauci also made headlines on Sunday when he said in an interview with
Science magazine, "I can't jump in front of the microphone and push him
down."
Dr. Anthony Fauci and his tendency to set the scientific record straight
have become a source of aggravation for President Donald Trump, The New
York Times reported on Monday.
How Dr. Anthony Fauci became Trump's coronavirus truth teller
By Maegan Vazquez, CNN
Updated 1324 GMT (2124 HKT) March 14, 2020
Washington (CNN)
Dr. Anthony Fauci has become a rare source of frank honesty from within
the White House coronavirus task force in recent weeks, holding firm
with an at times overly optimistic President and gently recommending
steps forward in the face of crisis. [...]
The veteran doctor also hasn't been afraid to refute Trump to his face.
The dynamic was on full display when Trump was asked last week about a
timeline for a novel coronavirus vaccine during a White House meeting
opened up to reporters. ==
CAN ANTHONY FAUCI SURVIVE IN THE TRUMP WHITE HOUSE?
Our most reliable coronavirus expert has corrected the president—and
could be on course for a head-to-head clash. Will Trump let it slide?
BY CALEB ECARMA
MARCH 23, 2020
Over the past three years, Donald Trump has made a habit of canning
underlings who dare publicly contradict him. A short list includes
former defense secretary James Mattis, who was "essentially" fired, as
Trump put it, for subliminally suggesting that he and the president had
diverging views on "treating allies with respect"; former Navy secretary
Richard Spencer, who was forced out after protesting the commander in
chief's judicial leniency toward a SEAL accused of war crimes; and
former White House chief of staff John Kelly, who fell out of favor
after a report claimed he privately referred to his boss as an "idiot."
Now, against the backdrop of a national coronavirus outbreak, Dr.
Anthony Fauci, the National Institute of Allergy and Infectious Diseases
director who has become a standout figure for his efforts to combat the
crisis, is testing the president's patience by publicly bucking his
talking points—most recently by pulling a world-historic face-palm that
quickly became a viral GIF. [...]
Trump stops Fauci answering coronavirus question about anti-malaria pill
after doc's clash with White House over drug
Fionnuala O'Leary, News Reporter
New York 6 Apr 2020, 2:08Updated: 6 Apr 2020, 12:27
PRESIDENT Trump stopped Dr Fauci from answering a question about
anti-malaria pills after the doctor clashed with White House officials
over its effectiveness in treating coronavirus.
Trump said the US bought a "tremendous amount" - 29 million doses -
during Sunday's COVID-19 press briefing, where he again touted the
benefits of the medication, also used to treat lupus and arthritis.
Axios reports disease expert Fauci and economic adviser, Peter Navarro,
were at loggerheads over the recommendation on Saturday, with the top
doc saying it was unproven and based on "anecdotal" evidence.
But the president cut Fauci off before he could clarify his viewpoint
during today's conference.
"There are signs that it works on this [coronavirus]," Trump told
reporters, citing "strong and powerful signs" it worked. "It's been
around a long time.
"I'm not acting as a doctor, I'm saying 'do what you want,' but there
some good signs."
"If it doesn't work, nothing is lost by doing it," he added. "I want to
save lives - I don't wanna be in a lab for the next year-and-a-half.
"It can help them but it's not going to hurt them."
Already, around 4,000 critical coronavirus patients in coronavirus
epicenter New York are being treated, health officials told the New York
Post.
Several in-state studies are in progress to see whether the pills can
help to block the virus transmission.
But before Trump confirmed millions of doses would be added to the
Strategic National Stockpile Sunday, Navarro and Fauci bickered over its
benefits.
Navarro insisted hydroxychloroquine success was based on "science, not
anecdote" during a heated exchange with Fauci at a task force meeting
Saturday.
He then accused the baffled doctor of objecting to Trump's earlier
travel restrictions on China in front of Dr Deborah Birx, Jared Kushner,
acting Homeland Security Secretary Chad Wolf, and FDA Commissioner
Stephen Hahn, Axios revealed.
The clinical drug trials are ongoing but researchers cited inadequate
studies in the communist country and France where control groups weren't
included.
But the president said they didn't have time to wait around for "test
tubes and the labs" today as the killer bug claims the lives of nearly
10,000 Americans and infected well over 300,000.
He said the FDA rapidly approved the emergency use authorization of
hydroxychloroquine because it's been tried and tested, adding "what do
you have to lose."
"I want people to live and I'm seeing people dying," he said Sunday.
"I've seen people who are going to die without it [...] As we speak,
there are people dying."
Trump aide Peter Navarro says ‘second opinion' needed on Fauci's view of
anti-malaria drug
By Rebecca Morin / USA TODAY
Posted at 11:40 AM
WASHINGTON – A senior aide to President Donald Trump is publicly pushing
back against National Institute of Allergy and Infectious Diseases
director Anthony Fauci's assertion that it's unclear whether an
anti-malaria drug can be used to combat coronavirus.
Peter Navarro, the top trade and manufacturing aide to the president who
is coordinating the use of the Defense Production Act for the White
House, told CNN's John Berman Monday that he believes a "second opinion"
is needed about hydroxychloroquine as a treatment.
"I let (Fauci) speak for himself, John, but I would have two words for
you: second opinion," Navarro said. "Doctors disagree about things all
the time."
Navarro's comments come a day after Axios and the New York Times
reported that he and Fauci had a heated argument during a White House
coronavirus task force meeting on Saturday about the drug.
According to the reports, Navarro and Fauci sparred over whether there
was enough evidence on hydroxychloroquine as a treatment to COVID-19,
the novel coronavirus.
(6) US companies (3M, Honeywell) make masks & other protective equipment
- but their factories are in China
Trump Weighs Legal Action Against China Over PPE Hoarding As
International 'Mask Wars' Heat Up
by Tyler Durden
Mon, 04/06/2020 - 12:55
The Trump administration is considering legal action against China after
leading US manufacturers of medical safety gear say Beijing has
prohibited them from exporting goods in what the New York Post says was
a bid to "corner the world market" in personal protective equipment (PPE).
"In criminal law, compare this to the levels that we have for murder,"
said Trump re-election campaign senior legal adviser, Jenna Ellis, who
says that legal options include filing a complaint with the European
Court of Human Rights or working 'through the United Nations."
"People are dying. When you have intentional, cold-blooded, premeditated
action like you have with China, this would be considered first-degree
murder," she added.
Executives from 3M and Honeywell told US officials that the Chinese
government in January began blocking exports of N95 respirators,
booties, gloves and other supplies produced by their factories in China,
according to a senior White House official.
China paid the manufacturers their standard wholesale rates, but
prohibited the vital items from being sold to anyone else, the official
said.
Around the same time that China cracked down on PPE exports, official
data posted online shows that it imported 2.46 billion pieces of
"epidemic prevention and control materials" between Jan. 24 and Feb. 29,
the White House official said. -New York Post
In total, nearly $1.2 billion in gear - which included over 2 billion
masks and 25 million "protective clothing" items which came from EU
countries, along with Australia, Brazil and Cambodia according to the
White House official.
"Data from China's own customs agency points to an attempt to corner the
world market in PPE like gloves, goggles, and masks through massive
increased purchases — even as China, the world's largest PPE
manufacturer, was restricting exports," they added.
'Mask wars'
The shortage of vital protective equipment has pitted neighboring
countries - and even US states - against each other, resulting in
accusations of theft and modern piracy, according to the CBC. The United
States, in particular, has been accused of stymying efforts by allies to
procure said equipment - by allegedly attempting to scuttle European
deals for purchases from China, as well as attempting to halt exports of
US-made N95 masks to Canada and Latin America last week.
That said, a Berlin senator who accused the US of "piracy" by diverting
a shipment of protective masks slated for delivery in the German capital
has reversed his position - saying that no US firms were involved in the
case of the still-missing masks.
Now the WashPost has corrected the story. cc: @jeffmason1
https://t.co/5dnkAMJnie — Richard Grenell (@RichardGrenell) April 4, 2020
The CBC suggests that 'the apparent desperation of some of the
wealthiest countries on earth' comes as a surprise which has
'justifiably raised eyebrows in less fortunate parts of the world' which
are now preparing for coronavirus to hit, yet with a fraction of the
resources.
Striking selfishness
"It's normal for countries to take care of their own citizens first,"
said University of Ottawa professor of international affairs and former
Trudeau adviser, Roland Paris - who added that the selfishness and lack
of coordination among leading countries "is striking."
"We're unfortunately seeing a mad scramble to grab whatever's available,
to hell with the other guy," added Paris, who's apparently unfamiliar
with game theory.
Even more stark, the mask wars have seen American and other buyers
scuttling European and Brazilian deals, some even snatching shipments
already promised to other jurisdictions by outbidding them—even "on the
tarmac" as planes prepared to take off. Some shipments reportedly just
disappear. -CBC
Not just masks...
While global PPE supplies have run critically short, nearly half the
supply of hydroxychloroquine - the Trump-touted treatment for COVID-19,
comes from India - which has banned exports of all form of the
'game-changing' drug.
Consequently - while China is without a doubt the biggest antagonist to
the US, India is beginning to grate on Trump's nerves despite his
nominally cordial relationship with Modi. According to data compiled by
Bloomberg Intelligence, 47% of the U.S. supply of the drug last year
came from India makers. Only a handful of suppliers in the top 10 are
non-Indian, such as Actavis, now a subsidiary of Israeli generics giant
Teva Pharmaceutical Industries Ltd. Still, it's likely that some of
their production facilities are nevertheless located in India.
India's export ban on the drug is aimed at ensuring it has enough supply
for domestic use after the American president's endorsement sparked
global stockpiling of the medication. Now, Trump's decision to tout the
drug will cause major shortages in the US.
Imagine if the United States hadn't exported the manufacture of just
about everything?
(7) Government expenditure to meet Covid-19 crisis should come from
Monetary Financing, not taxation or debt
Monetary Financing means that the Central Bank (which creates money ex
nihilo) directly purchases Treasury Bonds; the BoJ has done this in
Japan in recent years. Where the Central Bank is owned by the
Government, there is no increase in debt - no tax burden on future
generations to repay. An even better method would be for the Treasury to
issue money like Bradbury Pounds - completely debt-free money that
Britain used at the start of World War I. - Peter M.
To Help Fight Covid-19 The Bank Of England Must Commit To Direct
Monetary Financing
March 27, 2020 by David Barmes
The Bank of England is indirectly financing the Treasury's spending on
the response to Covid-19. We welcome this development, but further
transparency is needed. Now is the time for the Bank to commit to direct
monetary financing.
On the 19th of March, the Bank announced a £200 billion expansion of its
Quantitative Easing (QE) programme. The majority of these new asset
purchases will be government bonds, although the Bank will also buy more
corporate bonds. At Positive Money, we've always highlighted the
ineffectiveness and negative side-effects of QE, and will continue to
closely scrutinise the corporate bond purchases as further details
become available.
In these circumstances, however, there is some positivity in the Bank's
move to buy government bonds, because this time around the purpose of
the purchases is not to stimulate economic activity. We know that
previous rounds of QE failed to accomplish this goal, with much of the
newly created money getting stuck in financial markets, inflating asset
prices and doing little for the real economy. Now, the purpose of the
bond purchases is to address a deterioration in the UK gilt market. In
other words, their lowering of yields on UK government bonds is intended
to ease the Treasury's financing conditions, rather than to stimulate
private borrowing and spending.
Given that the markets are desperately seeking liquidity, buying up
government bonds increases their demand, as investors are reassured that
they can always sell them on to the Bank in exchange for cash reserves.
This means that the Bank of England is in effect indirectly financing
the government's deficit spending, which has been massively ratcheted up
due to Covid-19 measures. This is the kind of coordinated action between
the Bank and the Treasury that Positive Money has been calling for to
address other crises, such as climate and ecological breakdown.
That said, there is much more to be done. First, the Bank needs to be
more transparent about the intentions and effects of its actions.
Although the Bank's announcement cited deterioration in the gilt market
as a justification for expanding asset purchases, its website is still
using the classic reasoning behind QE to support its actions – while
mentioning nothing about the fiscal effect. In its market notice, the
Bank said "the MPC will keep under review the case for participating in
the primary market." Many interpreted this as meaning that the Bank is
considering buying government bonds directly, engaging in direct
monetary financing of the Treasury. However, on closer reading, we think
the Bank is referring to corporate bonds. Either way, this statement is
highly ambiguous.
Governor Andrew Bailey has also been unclear on the matter. While he
said he'll do "whatever it takes to meet the needs of the economy and
the needs of the people" he then claimed that they are not abandoning
the philosophy against monetary financing, while simultaneously
suggesting that something akin to it was being considered. This confused
messaging is not good enough. Especially in this time of crisis, the
public deserves full clarity and transparency from the Bank.
At Positive Money, we think the Bank should make an explicit commitment
to direct monetary financing. Unless the gilt market shows further
volatility, the functional effect on the Treasury's spending would be
equivalent to what the Bank is doing now, i.e. bond purchases in the
secondary market. But institutionally, a shift to direct monetary
financing would represent a big step.
If the Bank purchases bonds directly off the Treasury (or simply credits
the Treasury's account), this will shatter once and for all the illusion
that the government depends on the market to finance its spending. The
idea that austerity was an ‘economic necessity' will be laid to rest for
good and anyone suggesting down the line that the government has to
balance its books following profligate spending in response to
coronavirus will surely not be taken seriously. Monetary financing will
also mean that financial arguments for delaying our response to other
crises, such as climate and ecological breakdown, will terminally lose
all credibility. This will then allow for greater public debate and
understanding on real limits to government spending, namely inflation.
Furthermore, if the Bank commits to direct monetary financing now, this
will avoid the further use of QE in the future as a tool to stimulate
the economy independent of government spending. We know that QE simply
doesn't work as a stimulus for economic recovery and has fueled
inequality in the past. If the Bank shows now that it can do ‘QE for
People' by committing to the direct financing of the Treasury's response
to Covid-19, there will be no case for any other kind of QE as an
economic stimulus once we emerge from this public health crisis.
A national emergency may not be the ideal time for challenging the
notion of central bank independence, which is exactly why the Bank
should preemptively state that it is prepared to engage in direct
monetary financing, especially if there is more trouble in the gilt
market. In other words, it should explicitly express that it will not
allow investors to interfere with the Treasury's plans to respond to
this crisis. This would represent an expansion of the Bank's toolkit,
rather than its sudden co-optation.
It's great to see the Treasury taking the lead in responding to the
coronavirus crisis. Although there are remaining issues, such as delays
in the delivery of financial support, we commend much of the action it
has taken so far. But the Bank of England also has a crucial role to
play, which demands continued scrutiny. It must commit to full
transparency and direct monetary financing now, to support a bail-out
for people, not financial markets.
(8) Covid-19 shows cost of GLOBALISM & OPEN BORDERS – need to regain
INDEPENDENCE
Covid-19 has exposed ugliness of GLOBALISM & OPEN BORDERS – and given
nations incentive to regain INDEPENDENCE
6 Apr, 2020 12:26
By Mitchell Feierstein, investor, banker, and author of Planet Ponzi:
How we got into this mess, what happens next, and how to protect
yourself. He spends his time between London and Manhattan.
Globalism's open borders and just-in-time supply chains have been
providing cheap labor and products — but the coronavirus pandemic has
shown us the huge cost of neglected independence.
Covid-19 has opened the kimono of globalism, and what's underneath is
ugly. The virus has illustrated the importance of, and our reliance on,
just-in-time supply chains. Supply chains are only as strong as their
weakest link. If any ingredient is missing from that supply chain, the
nation controlling that commodity can break it, causing devastating
economic, geopolitical and social consequences.
For example, take emergency medical supplies and critical drugs. Most
antibiotics, as well as the main ingredients to produce them, are made
in China. India has prohibited the export of hydroxychloroquine, the
malaria drug that President Trump touted as a "game changer" in the
treatment of Coronavirus. Even basic over-the-counter drugs like
paracetamol are "out-of-stock." Hen's teeth and capable Central Bankers
seem easier to find than N95 facemasks, gloves, thermometers, pulse
oximeters, hand sanitiser, and isopropyl alcohol. We also rely on other
nations' electrical parts to run critical infrastructure, trucks,
trains, planes and automobiles.
The imposition of national export bans on medical supply chain
ingredients is a wakeup call for every nation state that has become
reliant upon other nations for products they no longer produce
domestically. Scarcity of critical commodities and medical supplies
needs to be part of every National Security dialogue. People's lives
depend upon the unrestricted access to and supply of these drugs,
medical products and equipment, which today, thanks to 30 years of
neoliberal globalism, are now beyond our control. We need to rebuild
this infrastructure and become self-sufficient in providing necessities.
Right now, we don't have the ventilators or drugs required to combat and
treat Covid-19 — who decides who lives or dies? We should NEVER have
been in this position — we must never be in it again.
Any disruption to our supply chain will result in a surge in
unemployment and mortgage defaults, and people won't be able to feed
their families. Civil unrest has already begun in Italy, and it will go
viral globally.
Countries need to urgently review and categorize which industries are a
matter of national security or, more simply put, are a matter of life or
death to their citizens.
When I stood for a seat in last December's UK Parliamentary elections,
independence, restoration of democratic principles and liberty, and
financial conservativism were the cornerstone issues guiding my
campaign. Each nation state needs to rethink and recategorize its
priorities. The health, safety and prosperity of the citizenry should be
placed above identity politics, the toxicity of an entitled cancel
culture and mob rule by social media. When taking a sober look at Brexit
and my reasons for wanting to leave the European Union, Covid-19
provides a stark reminder that in order for a nation to survive and
thrive, independence, not interdependence on supply chains should be
priority number one. Covid-19 has illustrated how interdependence can
cost lives.
Covid-19 has ravaged Italy where the death rate has been oscillating
between 11% and 14%. These are the highest recorded mortality rates
attributed to coronavirus during this crisis. This is an unprecedented
humanitarian crisis. They need help and they need it now. They called
upon the EU, but the cries fell upon deaf ears. The only help came from
Russia. Last time I looked, out of the 154 countries I reviewed in 2017,
Italy's GDP (Gross Domestic Product) growth over the previous 17 years
was in the 152nd spot, right above Haiti and Zimbabwe. Italy has issued
the most debt in the EU and owes around $4 trillion which, as I have
been warning for years, Italy can never and will never repay. A default
is imminent. The Great Financial crisis of 2008 caused Italy's youth
unemployment rate to skyrocket. By 2014, these numbers topped 42%, one
of the highest in the EU, as Italy's debt soared. [...]
These bankers' policies have caused a system crash and the greatest
economic depression in history is imminent. The good news is since
Brexit has been approved, the UK will not have to pick up Italy's debts,
or the debts of the other fiscally profligate EU member states. The
money saved will be spent on rebuilding industries, infrastructure and
supply chains to repair Britain's economy. The rebuilding of critical
businesses will create thousands of high paying jobs across the United
Kingdom at a time when employment opportunities are most needed.
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