ARE THE KIDS OK?
The video, created by VSRF, that Twitter does not want you to watch.
NetZero destroys NetZero: Europe can’t make solar panels because green electricity costs too much
By Jo Nova | October 9, 2022
Ironies don’t get better than this: Thanks to the renewable energy transition, Europe can’t afford to make renewable energy.
When will the message get through that renewable energy is not sustainable?
European photovoltaic plants and battery cell factors are temporarily closing or quitting altogether because of obscenely high electricity prices. When the plants were built they expected to pay €50/MWh, but now they are €300 – 400/MWh. And the situation may last another couple of years, so it’s hard to see how these manufacturers can avoid leaving permanently.
So much for all the solar jobs. Europeans are being reduced to being installers while the production of panels shifts to coal fired China because electricity is so much cheaper. Most of the wind turbine industry has already moved to China.
European solar PV manufacturing at risk from soaring power prices – Rystad
Jules Scully, PV Tech
Around 35GW of PV manufacturing projects in Europe are at risk of being mothballed as elevated power prices damage the continent’s efforts to build a solar supply chain, research from Rystad Energy suggests.
The consultancy noted that the energy-intensive nature of both solar PV and battery cell manufacturing processes is leading some operators to temporarily close or abandon production facilities as the cost of doing business escalates.
It’s not the only thing in jeopardy:
“Building a reliable domestic low-carbon supply chain is essential if the continent is going to stick to its goals, including the REPowerEU plan, but as things stand, that is in serious jeopardy,” [said Audun Martinsen, Rystad Energy’s head of energy service research].
Tell us what “affordable means:
The consultancy revealed that while power prices in Europe have retreated significantly since record highs in August, rates remain in the €300 – 400/MWh (US$297 – 396/MWh) range, many multiples above pre-energy crisis norms.
While Europeans have benefitted from reliable and affordable electricity, the research suggested that low-carbon manufacturers have based their build-up of production capacity on stable power prices of around €50/MWh.
And the country with the most fossil fuels wins:
The high costs of European PV manufacturing were revealed in a recent report from the International Energy Agency (IEA), which found China is the most cost-competitive location to manufacture all components of the solar PV supply chain, with costs in the country 35% lower than in Europe.
Eric Worrall | What’s Up With That? | October 9, 2022
… Shortly after the above was published, a French solar module plant was closed;
The obvious question, if renewables are so cheap, why don’t these plants relocate to a large plot of land, disconnect from the grid, and power their manufacturing facilities from their own low cost renewable energy products?
Seems an obvious solution – but for some reason renewable manufacturers seem to be choosing to shutter their plants, rather than switching to consuming their own product.
Twitter reverses censorship of Florida’s Surgeon General after backlash
By Christina Maas | Reclaim The Net | October 9, 2022
Twitter has reversed its censorship of Florida Surgeon General Joseph Ladapo after public backlash.
Ladapo was censored by the platform after he posted a tweet advising men between the ages of 18-39 to avoid the Covid vaccine as it had, he alleged based on a study, been found to cause an 84 percent increase in death rate for that group.
Ladapo’s statement and report were released on Friday, with the Surgeon General adding Florida “will not be silent on the truth.”
The published guidance “recommends against the COVID-19 mRNA vaccines for males ages 18-39 years old.”
Ladapo said that “Studying the safety and efficacy of any medications, including vaccines, is an important component of public health. Far less attention has been paid to safety and the concerns of many individuals have been dismissed – these are important findings that should be communicated to Floridians.”
Twitter removed the post by the public official, claiming the tweet violated “Twitter rules.”
However, the post was reinstated on Sunday after backlash from the public.
“This is an unacceptable and Orwellian move for narrative over fact,” said Bryan Griffin, the governor’s press secretary, in a further tweet.
Is PayPal About to Go Bankrupt?
BY IZABELLA KAMINSKA | THE DAILY SCEPTIC | OCTOBER 9, 2022
With the stock prices of both Credit Suisse and Deutsche Bank under pressure, many in the financial field are becoming concerned the world could be facing a renewed financial crisis. But this time around events could play out very differently. It might not even be banks that pose the greatest financial risk to consumers. It could be payment providers like PayPal.
The really big difference between 2007 and 2022 is that bank runs no longer look like the image above, they look like this:
That’s what I was faced with when I tried to transfer £500 from my PayPal account to a regular bank account. On Sunday morning the same message was still occurring. A quick scan of social media proved I was not alone.
“Boycott PayPal” was also trending on Twitter.
So what might the error message indicate about the business?
Here’s what we know so far.
In the last 48 hours a sneaky amendment to PayPal’s acceptable use policy widely captured the public’s attention. Free speech advocates had spotted that customers agreeing to the update would be allowing a sum of $2,500 to be lifted from their accounts if PayPal ever found them guilty of “sending, posting, or publication of any messages, content, or materials” that “promote misinformation” or “present a risk to user safety or wellbeing”.
When word got out, those already concerned about the company’s draconian turn started shutting their accounts and urging others to do the same on social media.
For some, the action proved the final straw.
On Saturday evening U.K. time, PayPal’s former president David Marcus distanced himself very clearly from the action. Elon Musk, whose pathway to billionairehood started in 2000 when his company X.com was merged with Peter Thiel’s Confinity to create the PayPal of today, later tweeted that he agreed.
Readers of the Daily Sceptic and members of the Free Speech Union (such as myself) will already know that over the past few months PayPal has been on a whirlwind tour of shutting down the accounts of platforms and media sites it has deemed guilty of spreading misinformation. In many instances, those affected, such as the Daily Sceptic, were not even consulted ahead of the fact and had little idea of what specific text, post or media had violated PayPal terms.
So why exactly would PayPal descend to this level of reputational self-harm?
It’s hard to know for sure, but chances are the decision rests on pressures PayPal itself is facing with respect to its legal duty to enforce Know-Your-Customer (KYC) and Anti-Money Laundering (AML) rules. If I was to take an educated bet, it’s the counterterrorism section of the rulebook that is most relevant.
These days it’s hard to imagine that banks weren’t always responsible for screening transactions and making judgements about their legitimacy. But until the Financial Action Task Force (FATF) was formed in 1989 with a view to combatting money laundering, banks only really cared about screening credit risk. It wasn’t until 2001 and the 9/11 attacks on the Twin Towers (and the introduction of the Patriot Act) that the scope of banks’ responsibilities in this field was expanded to include combatting the financing of terrorism too.
Tackling terrorist financing and criminality was easy enough when everyone was on the same page about what constituted terrorism or financial crime. But one man’s freedom fighter is another man’s terrorist. And in an increasingly polarised world, it’s become harder for ordinary bank employees to differentiate free-speech critical of authority from radicalising terrorist content, such as that distributed by Isis on social media to recruit new members.
It wasn’t the job they were hired to do.
Three factors have muddied the waters further.
The first is the scale of penalties directed at banks found in breach of AML/KYC regulation. The fear of being slammed with fines has made banks and payment providers like PayPal hugely risk-averse and inclined to err on the side of caution when facing any ambiguity. If something even whiffs of misinformation, from their point of view it’s better to shut it down than to run the risk of getting a fine.
Second, is a lack of resources. Human arbitration is costly, and screening activities would be unaffordable if they were to be done by living, breathing individuals. This is why banks and payment providers like PayPal have invested huge sums of money in cost-saving screening technology to detect illegal transactions both actively and preemptively. The problem here is that most of these tools, known as suptech or regtech, are algorithmically applied with limited human oversight. That means it’s mostly artificial rather than human intelligence deciding who gets to stay on a platform and who gets frozen out. As yet, robots are not well known for their sense of nuance, empathy or capacity to process ambiguity. How they decide what they decide is a black-box interpretation of the inputs they’ve been programmed with.
The third issue is the structure of the KYC/AML policing system itself. Since the scale of the task is so enormous, it goes beyond the scope and capacity of any existing government agency. Knowing this, governments, very similar to how they managed the enforcement of lockdown policy, realised it would be more cost-efficient to outsource the policing of their own rules to the banks and payment companies directly. But this is a strategically coercive dynamic. If payment companies don’t fall in line, they risk having their licences removed and their businesses shut down. Non-compliance is therefore not an option. PayPal isn’t perfect, but the pressure it is facing is very similar to the pressure pubs, restaurants and supermarkets faced under Covid. The structural problem here, as with the retail sector during Covid, is those payment companies are not legislative specialists. They take for granted that the governments know what they are doing and that the rules they are setting are human rights compatible and in line with the laws of the land. Nor do the payment companies have the capacity to investigate the rights and wrongs of every case. This is a job for the legal system, which is already excessively costly to access for most ordinary individuals.
This in itself is a huge blind spot for the financial system. There’s a very strong case to be made that the way democratic governments have gone about enforcing AML legislation is not compatible with human rights at all. The enshrined right of habeas corpus might even be under threat. The FATF has itself belatedly realised this. Back in October 2021, it noted in a “stock-take on the unintended consequences of the FATF standards” that (my emphasis):
Situations have arisen in the course of FATF evaluations concerning the interaction between the FATF Recommendations on combating TF (particularly R.5 and R.6) and due process and procedural rights (e.g. to legal representation, fair trial, and to challenge designations, etc.), which have been considered on a case-by-case approach as they arise in specific country contexts. In addition, the FATF has also been made aware of instances of the misapplication of the FATF Standards, which are allegedly introduced by jurisdictions to address AML/CFT deficiencies identified through the FATF’s mutual evaluation or ICRG process, potentially as an excuse measures with another motivation. This information often comes as a result of stakeholder input or when the attention of the FATF or its members is drawn to a particular issue, such as when another international body is reviewing legislation or actions are taken by national authorities. Analysis in the stocktake has therefore focused on the due process and procedural rights issues most often arising in evaluations or feedback.
The stock-take identified the following factors as key examples of where misapplication of FATF standards had affected due process and procedural rights:
- excessively broad or vague offences in legal counterterrorism financing frameworks, which can lead to wrongful application of preventative and disruptive measures including sanctions that are not proportionate;
- issues relevant to investigation and prosecution of TF and ML offences, such as the presumption of innocence and a person’s right to effective protection by the courts;
- and, incorrect implementation of UNSCRs and FATF Standards on due process and procedural issues for asset freezing, including rights to review, to challenge designations, and to basic expenses.
Readers can hopefully see the issue.
The entire regulatory system since 2008 has focused on ensuring that the 24-hour payment banking infrastructure we have become used to will never face the risk of going down again.
Put bluntly, the style of service disruption currently being experienced at PayPal is something major banking and payment institutions are not supposed to be able to get away with. At least not for long. So yes, it does feel like a big deal.
For the most part, the practice of shuttering access through website maintenance, downtime or error messages is more commonly seen at cryptocurrency platforms during extreme bitcoin selloffs. Closing access to people’s accounts or pretending to do website maintenance often gives operators the time to raise the liquidity they need by slowing redemptions. But it’s far from a transparent or honourable policy.
For PayPal to have triggered a run on itself because it was merely following government orders is not just unfortunate, it is careless. But it also speaks of a deeper problem at the heart of the anti-money laundering regulatory structure. The entire system we have created may no longer be fit for purpose. Consider, for example, that despite many billions of dollars spent on FATF compliance, a company like Wirecard, whose business model in retrospect looks to have been based on fraud as a service (FAAS), could so easily rise to the top of the German stock market. Nor has any of the regulation been successful at combatting the type of electronic financial fraud (mostly based on phishing attacks or social engineering) that impacts users every day.
We need to seriously ask if the benefits outweigh the collateral damage also being incurred.
But while PayPal might not be entirely responsible for its own actions on the KYC/AML front, its business model may be more vulnerable to this sort of fallout than most people appreciate. The culpability for that lies with PayPal exclusively.
A key revenue generator for the group has always been the interest revenue it absorbs from all the customer balances it holds. (You may not have realised it, but if you have any significant sums in a PayPal account, you won’t be collecting interest on them.) A large outflow of deposits could easily inhibit the company’s ability to raise this income and harm its overall revenue-generating capability. (You don’t have to hold balances at PayPal to use it.)
More critical for PayPal at this juncture will be its inability as a payments company to access the central bank lender-of-last-resort backstop. That means if the group is genuinely facing challenges meeting transfer and redemption requests, it will only be able to turn to wholesale liquidity markets to make up the difference. The degree to which customer balances are locked up in harder-to-liquidate securities or bonds will largely determine its success here. Frustratingly for PayPal, in the current illiquid bond market, there’s a good chance that selling these quickly and without a loss could be challenging. The alternative path for PayPal will be to use these securities as collateral for temporary loans. But the expense here is potentially open-ended if there are no obliging counterparts. That may (or may not) be why the company is currently restricting transfers.
Before rushing to conclusions, it’s important to stress the company still has recourse to liquidity from fully-funded (in fact over-collateralised) entities. We may not know the makeup of that liquidity, but solvency is unlikely to be an issue over the longer term. The biggest problem facing users today will be uncertainty over how quickly they can transfer funds out of the PayPal ecosystem.
What I can say is that in the modern digital age, bank runs will be different. We may even long for the days when tellers transparently shut up shop when the vaults ran dry. At least it was clear what was going on. These days, on the other hand, it will become ever harder to differentiate a bank run from a maintenance issue on a website. Such matters will be shrouded in plausible deniability and uncertainty. Suffice it to say, corporate communication departments will always err towards disinformation of their own sort, that any such outage is nothing out of the ordinary.
Even more concerning is that in the event of a run, customers will no longer be able to tell if those with better connections aren’t unfairly cutting ahead of them in the redemption queue. Virtual queues may seem technologically efficient, but there’s no transparency to them at all.
That’s why if you’re caught out by any of these policies you already don’t stand a chance of getting your account back unless you have existing connections to the management or a platform of your own. None of this is progressive or encouraging.
Izabella Kaminska is the Editor of the Blind Spot, a financial news media service focused on the news everyone else is missing.
PayPal was not contacted for this piece, which is based on the opinions of the author.
Top medical center pauses trans surgeries on kids
Samizdat | October 9, 2022
The Transgender Health Clinic at Tennessee’s Vanderbilt University Medical Center has “paused” gender surgeries for patients under the age of 18, according to a letter sent by the institution’s chief health system officer, C. Wright Pinson, to a state representative on Friday.
In the letter, which Republican Rep. Jason Zachary posted to Twitter, Wright explains that the clinic is pausing “gender-affirmation surgeries on patients under 18” due to the publication of new standard-of-care guidelines last month by the World Professional Association of Transgender Health (WPATH), citing the need to conduct an internal clinical review and consult a wide array of experts. The review could take “several months,” he added.
While Wright pointed to the new guidelines as Vanderbilt’s reason for “pausing” the controversial procedures, his message was framed as a response to the letter Zachary and other state Republican leaders had written to the medical center last month demanding a moratorium on providing gender surgeries to minors. Zachary hailed it as a victory, tweeting his appreciation to Vanderbilt for addressing the party’s “deep concerns.”
The state politicians had decried the university’s pediatric gender clinic’s practices as “nothing less than abuse.” They also demanded all its affiliates honor so-called conscientious objectors – medical professionals who refuse to perform “certain medical procedures” because of their religious beliefs.
The university official addressed both issues in his response, reassuring Zachary that Vanderbilt was compliant with Tennessee law – including legislation banning hormone treatment for pre-pubertal children. Of an average of five gender-affirming surgeries per year on patients under 18 that Vanderbilt doctors had performed since opening the Transgender Health Clinic in 2018, none were genital procedures, and all patients were over 16 and had parental consent, he insisted. Additionally, none of the surgeries were paid for by government funds, and the revenue from gender surgeries constituted an “immaterial percentage” of the center’s profits.
Vanderbilt is not the only pediatric gender clinic to back away from some of its more controversial practices. The Harvard-affiliated Boston Children’s Hospital has struggled to conceal its own history of performing gender surgeries on minors, claiming to only operate on patients over 18 despite a peer-reviewed paper revealing it has performed 65 gender-affirming surgeries on teens as young as 15 since January 2017.
Tennessee, which adopted the ban on pre-pubertal hormone treatment last year, is one of several states attempting to crack down on practitioners that offer irreversible medical procedures such as hormone treatment and “gender-affirming” surgery to minors, sometimes without parental knowledge or consent. Texas, Arkansas, Alabama, and Arizona have also adopted legal measures restricting such treatments.
Satellite Temperature Data Show Almost All Climate Model Forecasts Over the Last 40 Years Were Wrong
BY CHRIS MORRISON | THE DAILY SCEPTIC | OCTOBER 8, 2022
A major survey into the accuracy of climate models has found that almost all the past temperature forecasts between 1980-2021 were excessive compared with accurate satellite measurements. The findings were recently published by Professor Nicola Scafetta, a physicist from the University of Naples. He attributes the inaccuracies to a limited understanding of Equilibrium Climate Sensitivity (ECS), the number of degrees centigrade the Earth’s temperature will rise with a doubling of carbon dioxide.
Scientists have spent decades trying to find an accurate ECS number, to no avail. Current estimates range from 0.5°C to around 6-7°C. Without knowing this vital figure, the so-called ‘settled’ science narrative around human-caused climate change remains a largely political invention, not a credible scientific proposition. Professor Scafetta has conducted extensive work into climate models and is a long-time critic of their results and forecasts. In a previous work, he said many of the climate models should be “dismissed and not used by policymakers”. Along with around 250 professors, he is a signatory to the World Climate Declaration which states there is no climate emergency and also notes climate models are “not remotely plausible as global tools”.
Scafetta’s latest work grouped 38 major climate models into low, medium and high ECS values, ranging between 1.8°C and 5.7°C. He found that models in the medium and high category “ran hot” in over 95% and 97% of cases respectively. The lower models were said to have done better when compared to global warming calculated for the period by the major surface datasets of 0.52-0.58°C. But the UAH satellite data showed warming up to 30% less during this period, suggesting even the low warming models produced “excessive warming” from 1980-2021.
According to Scafetta, these results show that the ECS figure could be as low as 1.2-2°C. Particular concern is expressed about surface temperature records that “appear to be severely affected by non-climatic warming biases”. Scafetta concludes that surface-based temperature records are likely to be affected by warming biases, such as the urban heat island effect due to expanding urban development, and subject to natural oscillations that are not reproduced by climate models. He concludes: “The global warming expected for the next few decades may be even more moderate than predicted by the low ECS-GCMs [Global Circulation Models], and could easily fall within a safe temperature range where climate adaptation policies will suffice.”
Scafetta’s work is vital in providing a realistic insight into the dominant role played by climate models in promoting the command-and-control Net Zero political agenda. Many of the constantly promoted climate thermogeddon scares use forecasts based on high ECS values. The higher values are behind every statement from bureaucrats, politicians, green activists and journalists that we are heading for a 2-3°C increase in global temperature in the near future. In the absence of any definitive ECS figure, these predictions are guesses.
In fact, once the ECS figure falls to around 1°C, it is moving into margin of error territory. However, many scientists have more or less given up trying to calculate ECS, since measuring the non-linear atmosphere is proving as difficult as it ever was. The atmosphere is a chaotic system with many powerful influences reacting unpredictably with each other. The huge heat transfers that obviously have a considerable part to play in climate are far from completely understood. Recent suggestions that modellers can ‘attribute’ single event weather events to human-caused climate change are unprovable, and little more than figments of over-active, agenda-driven imaginations. Furthermore, it is possible that carbon dioxide becomes ‘saturated’ beyond certain levels and its effect as a warming gas rapidly declines.
What we do know is that over the last 20 years, global warming has started to run out of steam. The latest September UAH satellite data, considered in some scientific circles as the most accurate measurement we have, show the current standstill has been extended to eight years. But whereas satellite data are common and invaluable in many geographical fields, these temperature results are less welcome. It is not hard to see why. Scafetta calculates that the results since the start of recordings around 1980 are 30% below surface temperature datasets. As it happens, the two adjustments since 2013 by the U.K.’s Met Office to its HadCRUT global surface temperature record have increased recent warming by a similar amount. Similar upward adjustments are to be found in the other major global datasets. A previous temperature pause from about 1998-2010 is no longer visible in these records.
Claims of ‘record’ heat years and ever higher temperatures are taken exclusively from the surface records. The satellite record is largely ignored. There are even attempts to cancel the inconvenient figures, with Google AdSense recently ‘demonetising’ the site of Dr. Roy Spencer, the Principal Research Scientist at the University of Alabama in Huntsville, one of the main compilers of the UAH satellite record. The record, of course, that is a vital part of Professor Scafetta’s work investigating the accuracy of climate models.
Germany’s Green Party In Dire Straits
From most loved, to most hated… audiences are drowning out Green Party speakers at campaign rallies.
By P Gosselin – No Tricks Zone – October 8, 2022
The German Greens, who are partners with the SPD socialists in Germany’s government, are sinking dramatically in the public opinion polls as it becomes clear Green Party leader and Economics Minister Robert Habeck is driving the country’s economy into the ground at a dizzying speed.
Habeck, who currently also serves as Vice Chancellor, recently stunned millions of TV viewers when he appeared not to understand what bankruptcy is. Now as tomorrow’s state elections approach in Lower Saxony, the Green Party officials are scrambling to keep Habeck from doing more damage.
Blackout News reports that the Greens are “hiding” Habeck from the public in order to control the damage, and so far he has “had only one campaign appearance”. For that one particular appearance, “the audience had to stay outside, for security reasons” and “exclusively to selected members of his party.”
“In the polls, Robert Habeck has already experienced a significant plunge in the popularity of German politicians in recent days. So it’s no wonder that the Greens are literally hiding their once most popular politician ahead of the election in Lower Saxony,” reports Blackout News.
Desperate to find new sources of energy now that the Russian supply of natural gas has been halted, Habeck has angered his party base by extending the operating life for two nuclear power plants and putting lignite-fired power plants back on line.
In Göttingen, Habeck spoke at an election rally, but only in only in front of hand-picked audience after the police had completely sealed off the event.
Just a day earlier his party comrade Annalena Baerbock was “drowned out” by demonstrators. “Already at the beginning of her speech there was a deafening concert of whistles so that Baerbock could hardly be understood,” reports Blackout News. “In addition, there were shouts such as: ‘Baerbock must go’, ‘war-mongers’, ‘get lost’ and ‘impoverishment and war thanks to the Greens’, and ‘whoever votes Green, votes for war’.”
The mainstream media however, did not report on this.
Once the darlings of politics, the German Greens have seen their popularity plummet spectacularly over the recent weeks as Germany’s economy crashes due to excruciating energy shortages and price inflation.
“Therefore, on October 3, the Minister of Economics spoke only to a few dozen hand-picked party members and a few selected journalists,” according to Blackout News.
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Pfizer Pleased To Announce Their New Vaccine 90% Effective Against New Virus They Created
Babylon Bee · January 26, 2023
NEW YORK, NY — Pfizer Inc. dropped their new COVID variant and accompanying vaccine Thursday at midnight, much to the delight of CDC officials. The new vaccine is reportedly shown to be 90% effective against the COVID variant Pfizer created in their lab.
“First there was the dream, now there is reality,” said Pfizer CEO Albert “Dirty Berty” Bourla from his planet-orbiting space fortress. “They said it couldn’t be done — that it was unethical — but we showed them!”
He elaborated, “A new variant is scary. That’s why we wanted to make sure the vaccine was ready to go right away. We had a lot of experience from causing myocarditis and then treating it, which was a big help.”
Pfizer scientists have been working double time to get both products ready for simultaneous release using a process they call “directed evolution.” … continue
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