"A Big Failure For Us" - Sweden's Biggest Pension Fund Loses Billions On Busted US Banks

Yesterday's (50%) collapse in First Republic Bank shares was - in a word - 'surprising' given all the positive 'rescue' chatter and upbeat overall market sentiment post-CS 'rescue'. US Regional banks broadly speaking were having a good day, but FRC was clubbed like a baby seal despite headlines proclaiming no lessor mortal than Jamie Dimon himself was on the case to rescue the community bank.

Well, we may now know why the selling pressure was so strong as Bloomberg reports that Alecta, Swedens largest pension fund, has lost billions in the recent bank busts and started to abandon its large position in FRC last week.

“The uncertainty about First Republic’s future was too great, partly due to the fact that the lender was downgraded to junk status,” Billing said in emailed comments, after Bloomberg News obtained a copy of a written response by Alecta to the Swedish Financial Supervisory Authority.

Alecta said its total invested capital in First Republic stood at 9.7 billion kronor “before a sale on March 15.”

The Swedish fund had been buying First Republic shares since 2019, making it the bank’s fifth biggest shareholder.

https://www.zerohedge.com/markets/big-failure-us-swedens-biggest-pension-fund-loses-billions-busted-us-banks

After Giving Them Billions, The US Government Wants To Bail Out Moderna

Moderna CEO Stéphane Bancel is set to testify before the Senate’s top healthcare committee Wednesday as the federal government generously offers to bail his company out of a patent infringement lawsuit.

The purpose of Wednesday’s Health, Labor, Education and Pensions (HELP) Committee hearing is to question Bancel about drug prices after Moderna proposed quadrupling the price of its COVID-19 shot. Independent Vermont Sen. Bernie Sanders, HELP’s chair, and Republican Louisiana Sen. Bill Cassidy, the committee’s ranking member, have long advocated for lower drug prices.

The Biden administration’s entanglement with ongoing litigation related to patent infringement has received less attention than issue of vaccine pricing. Moderna is currently fighting off a lawsuit from Arbutus Biopharma and Genevant Sciences, a pair of small biotechnology firms that allege Moderna stole their technology to develop its COVID-19 vaccine.

Moderna reported $18.4 billion in revenue in 2021 and $19.2 billion in 2022, with the lucrative vaccine contract driving a huge increase from the roughly $800 million the company made in 2020. Bancel was compensated handsomely, raking in more than $400 million between salary, stock sales and other forms of payment.

Arbutus and Genevant alleged that Moderna infringed on their patents for lipid nanoparticle technology, which they claim took years of incredibly challenging work for their scientists to develop. If the lawsuit succeeds, the companies could earn royalties from Moderna as compensation, which could add up quickly with so much money involved.

Much of that money flowed into Moderna’s coffers from the wallets of American taxpayers. For almost the entire pandemic, COVID-19 vaccines were purchased directly by the U.S. government and distributed for free to Americans who wanted to get the shots. Moderna also got nearly $2.5 billion from the government to fund vaccine development.

Now, the Biden administration is attempting to offer the company another windfall. Last month, the Department of Justice (DOJ) filed a statement of interest in the Moderna lawsuit, offering to take on liability for the company’s alleged patent infringement. Such a move would result in the Treasury Department being responsible for potential damages from the suit, rather than Moderna itself.

The day after that statement of interest was filed, Moderna announced an agreement to offer its COVID-19 vaccine to the uninsured and underinsured at no cost following pushback from Democratic lawmakers against the proposed price hike.

https://dailycaller.com/2023/03/21/moderna-lawsuit-patent-infringement-vaccine-doj-arbutus-genevant/

‘Rotten To The Core’ — Matt Gaetz, House Republicans To Introduce Legislation Rejecting New FBI Headquarters

Florida Rep. Matt Gaetz and five other Republicans will introduce legislation Tuesday that calls for the House to halt all spending allocated towards the Federal Bureau of Investigation’s (FBI) new headquarters outside the District of Columbia.

The Daily Caller first obtained the legislation, which is titled “The FBI Washington Field Office House Arrest Act.” In December 2022’s Omnibus package, when Nancy Pelosi was Speaker of the House, Congress voted to allocate $375 Million for a new FBI headquarters. Gaetz and the GOP lawmakers do not believe it should be built.

There are reportedly three options for where the new FBI headquarters would be built: two in Maryland, and one in Virginia.

“There are still good men and women in the FBI whose task and purpose is to defend our country, but the FBI’s weaponized Washington Field Office is rotten to the core. Through our investigations in the Weaponization Subcommittee, we have uncovered extremely disturbing testimony from FBI whistleblowers that the Washington Field Office is targeting Americans who oppose their corrupt political agenda,” Gaetz told the Caller before introducing the legislation.

https://www.scribd.com/document/632723068/DAILY-CALLER-OBTAINED-Gaetz-FBI-HQ-Resolution#download&from_embed

https://dailycaller.com/2023/03/21/matt-gaetz-house-republicans-legislation-rejecting-new-fbi-headquarters/

WHO IS THERESA TAM?

Theresa Tam is Canada's Chief Public Health Officer, and for the past three years, she told you how to think, where you could go, what you could do. She told you whether or not you could have job, go to school, visit sick and dying parents and friends, … and for many she even told them when to die!

She came into your home, your life, and turned it upside down.

She muzzled you, she masked your kids, she stole three years of your life, she prevented you from saying goodbye to loved ones. She destroyed your finances, your family and community.

https://www.thetruefactsc19.com/post/who-is-theresa-tam?

Top Universities: Tools of the WEF

The WEFs committee of presidents from the world’s leading universities

Robert W Malone MD, MS

One of the most unsettling events of the past three years has been the globalized, coordinated messaging of socio-economic missives and policies throughout the world. All of us in the liberty movement have wondered… who is controlling this? How does this happen?

I remember spending time last fall with Nick Hudson of the Pandata Group (Panda). We were discussing transgender policies across the world. We both were very disturbed, not just by the policies but also how they came about. How did the policies of teaching of non-binary genders in schools and the importance of youth “transitioning” spread across world so quickly? How is it possible that South Africa would be immersed in the same battles for “trans rights,” as the USA and as of most of Europe? Of course, it isn’t possible without coordination.

Then our minds turned not just to the pandemic policies of masking, mandates and lockdowns, but to climate change, the elimination of gas fueled cars, Agenda 2030, the move to eliminate private ownership items such as autos and housing, digital IDs, digital currency, 15-minute cities, taking away private land for conservation, globalized censorship, etc. not just one country, but across the world. The coordinated list seems endless.

I don’t remember a period in my life where most of the world governments agreed on so much. Where did these policies originate? Who is co-ordinating them? How did this happen?

Well today, a reader of this substack wrote me about their discovery that the World Economic Forum has a formal committee of presidents from the world’s best universities. That these presidents are coming together regularly to discus and decide policy at the top universities in the world. These presidents are committed to supporting the World Economic Forum.

From the WEF website:

The Global University Leaders Forum (GULF) community consists of the presidents of the world’s leading universities who are committed to supporting the Forum’s mission of improving the state of the world. Together GULF presidents identify and address matters of common interest, including trends, challenges and best practices in higher education, research and societal impact. The community is comprised of 29 members and is chaired by Suzanne Fortier, Principal and Vice-Chancellor, McGill University.

In 2021, the GULF community will focus on how universities can facilitate a more equal and inclusive recovery from the COVID-19 pandemic, including through exploring the skills for the future and reskilling, social inclusion, and climate action.

GULF presidents and faculty engage in multiple ways with the Forum:

Expert networks: opportunities for experts to contribute to expert communities including the Global Future Councils

Insight development: opportunities to contribute to new research, disseminate new insights and collaborate on enhancing Strategic Intelligence

Action: opportunities to shape the world through 18 platforms addressing social, environmental, technological and industry challenges

Learning: opportunities to develop and pilot educational modules with Forum communities

https://rwmalonemd.substack.com/p/top-universities-tools-of-the-wef?

>>18553671

Protesting free speech comes with issues when you groom kids and expect a voice!

Two arrested after protests outside Mark Latham speech in south-west Sydney

LGBTQI+ activists Community Action for Rainbow Rights claimed they were "attacked" and pelted with rocks and bottles by a group who met them outside St Michael's Church in Belfield.

The activist group says about 15 of its members were there to peacefully protest an "anti-trans" speech by Mr Latham, the leader of One Nation in NSW.

https://www.abc.net.au/news/2023-03-22/two-arrested-after-protests-outside-mark-latham-speech/102127830

>>18553747

kek

>>18553740

Nice

Baker Notable

>>18553671, >>18553720, >>18553740 Trump is expected to be indicted tomorrow — Daily Mail - 322 - Qproof 1415

>>18553780

Premier Dominic Perrottet admits calling Health Minister Brad Hazzard when his wife was sick and needed an ambulance

New South Wales Premier Dominic Perrottet has been grilled over whether he was given "special" treatment to skip the ambulance queue when his wife was sick.

https://www.skynews.com.au/australia-news/premier-dominic-perrottet-admits-calling-health-minister-brad-hazzard-when-his-wife-was-sick-and-needed-an-ambulance/news-story/9283cef25e219ad47c0d37b759d67b42

Cattle - Useless eaters

'Gwyneth knew what she was doing was dangerous and reckless.' Attorney for Utah optometrist injured in ski accident calls Paltrow 'callous' for 'hit-and-run' crash in opening statements of trial

Gwyneth Paltrow appeared in court today over a 2016 ski accident in which a retired Utah optometrist claims he was left with permanent injuries

During opening statements, Paltrow's lawyer confirmed her husband and two children will take the stand during the eight-day trial

Terry Sanderson, 76, sought damages in excess of $3.1 million but a judge dismissed his original claim of hit-and-run

Gwyneth Paltrow was distracted by one of her children yelling 'Mommy, Mommy watch me ski,' and crashed into a 72-year-old causing permanent brain injury, it was claimed in court Tuesday.

Paltrow turned to watch the child and the next thing she knew she had collided with retired optometrist Terry Sanderson, his lawyer Lawrence Buhler said, adding that her 'conscious disregard for people' led to the crash.

'She knew what she was doing was dangerous and she knew it was reckless,' said Buhler in his opening statement on the first day of a trial where Sanderson is suing the Oscar-winning actress.

The accident occurred on Utah's Bandana Mountain in 2016. At the time Paltrow's daughter Apple was 11 and her son Moses was 9.

https://www.dailymail.co.uk/news/article-11886151/Gwyneth-Paltrow-arrives-Utah-court-stand-300-000-civil-lawsuit.html

https://www.dailymail.co.uk/news/article-11885351/Mark-Latham-speech-Christian-Lives-Matter-advocate-pushed-ground-supporters.html

Uganda passes anti-gay legislation, new penalties for same-sex relationships

A country notorious for its intolerance to homosexuality has just passed draconian new laws cracking down on same-sex relationships.

Uganda’s parliament on Tuesday passed sweeping anti-gay legislation which proposes tough new penalties for same-sex relationships following a highly charged and chaotic session.

“The ayes have it,” parliamentary speaker Annet Anita Among said after a final vote, adding that the “bill passed in record time”.

Legislators amended significant portions of the original proposed law with all but one speaking against the bill.

Homosexuality is already illegal in the conservative East African nation and it was not immediately clear what new penalties had been agreed upon.

“This House will not shy to restrict any right to the extent the House recognises, protects and safeguards the sovereignty of this country and the morals of this country,” Among said.

The bill will next go to President Yoweri Museveni, who can choose to veto or sign it into law.

The legislation enjoys broad public support in Uganda and reaction from civil society has been muted following years of erosion of civic space under Museveni’s increasingly authoritarian rule.

In recent months, unfounded conspiracy theories accusing shadowy international forces of promoting homosexuality have gained traction on social media in Uganda.

Last week, police said they had arrested six men for “practising homosexuality” in the southern lakeside town of Jinja.

Another six men were arrested on the same charge on Sunday, according to police.

Uganda is notorious for intolerance of homosexuality – which is criminalised under colonial-era laws.

But since independence from Britain in 1962 there has never been a conviction for consensual same-sex activity.

https://www.news.com.au/world/africa/uganda-passes-antigay-legislation-new-penalties-for-samesex-relationships/news-story/633e3050dce06fe58ef6f90de3a6d989

>>18553422

777 and other qabalistic writings of Aleister Crowley.pdf

https://idoc.pub/documents/777-and-other-qabalistic-writings-of-aleister-crowleypdf-d47e1vw3xmn2

BUSTED: Rolling Stone Editor-in-chief spiked reporting on friend getting arrested for child porn

Shachtman considered Meek "a peer with whom he was friendly."

A new report has revealed that the man who edited Rolling Stone’s initial story on the FBI raid of ABC producer James Gordon Meek, who was later revealed to have been charged with possessing child pornography, removed all references to the charge from the report, and was an associate of the accused producer.

On October 18, former Rolling Stone journalist Tatiana Siegel broke the news that the FBI had raided Meek’s home in April and that the Emmy award-winning ABC producer had disappeared from the public eye.

According to a new report from NPR, Rolling Stone Editor-in-Chief Noah Shachtman had removed from her piece key information from Siegel’s sources that Meek had been raided by the FBI as part of a child pornography federal investigation.

Shachtman, the outlet reported, considered Meek "a peer with whom he was friendly," a concern that Siegel had brought up to corporate officials. Shachtman reportedly told colleagues that the two travel in the same professional circles. A 2021 tweet, from before Shachtman taking the helm at Rolling Stone, Meek was seen on Twitter suggesting a Niger band for Shachtman to listen to.

At a staff meeting late in September, Siegel reminded Shachtman that she was working on the story, and the following week, Shachtman stepped in to edit, a move that was "rare," NPR said.

Siegel was reportedly warned by Shachtman against including the words "child pornography" in the story.

"According to what Siegel told others, Shachtman and she agreed that the article would reflect that the FBI's interest stemmed from concerns of possible criminal behavior outside the scope of Meek's work — that is, it had nothing to do with national security or journalism," NPR reported, according to sources familiar with the matter.

Shachtman reportedly later told others that he did not believe Siegel had adequately nailed down her sourcing.

In a statement to NPR, Penske Media, the parent company of Rolling Stone, said that the authority to decide Rolling Stone’s coverage choices lies with Shachtman, and that "That was true in this case, as reflected in the final edits to the story. Some material was added late in the process, other material was dropped."

Shachtman was seen in Rolling Stone’s Slack channel asking photo staffers to come up with a generic photograph, requesting that a photo of Meek not be used.

"let's not use a picture of the guy in question, james gordon meek," Shachtman requested, in a post stamped "NEEDS PHOTO." "something FBI-y, please." The photo ended up being one of federal agents in their windbreakers at a crime scene.

Siegel was pulled away from finalizing the piece to take care of her ailing mother, who later passed away. Shachtman reportedly told Siegel that the story would land safely while she was caring for her family.

Penske Media said the two "were in contact up until the final moments before publishing."

https://thepostmillennial.com/rolling-stone-eic-noah-shachtman-edited-out-a-reporters-scoop-about-his-acquaintance-getting-arrested-for-child-porn

Putin can't hide his happiness