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Bought some QQQ's today on the dip. Added a little bit more to my son's account. Up about 8% in 2 months! I think I've learned some stuff here. Thanks to all that contribute, and of course to the boss. Thanks Phil!
Phil, 3 for 3! Sold on initial excitement and made a double on USO, 70% on AMZN and 70% on SPY options from Friday. Thanks and much appreciated for the suggestions.
Gingbaum
Phil, I'm up 34x what I paid in fees for your service, and that only counts the trades I didn't think of myself. Thanks!
Barfinger
Phil - I am 3 month follower and shout a big thanks for all the good advice and training. I read all the materials and posts as suggested. I am retired CFO and took over my investments 2 years ago from broker after frustration with returns. I followed some conservative advice for retirees and have 60% bonds currently in a 5m portfolio. I had been doing covered calls on my stocks to boost returns and slowly am getting more aggressive after following your site and my son who has been with you for 6 months. I allocated 1.5m to stocks and am scaling up from 30%. I did some of the trades suggested in early June using Aug & Oct buy/writes on CSCO, WMT, MON, WFR, DO in addition to calls on XOM, CVX, PEP, PG, WM, T that I owned. Most are doing very well (4-24%) in 60 days. My good problem is that instead of getting longer, I will be making 6% quickly (50% plus annualized) and getting called away on many positions. What would you advise for getting long again. Thanks again for such a great job advising all of us!
TXChili
Gel1…..I've been here 6 months, mostly watching and learning. Lots of smart people on the site and I've learned a lot from Phil and many others. //// Inflan - I have to trump your sentiments regarding the wisdom of the board. I have to thank Phil and the many contruibutors for a 80% profit for 2009. I have learned a lot and am still learning ( even occasionally about political issues - ha! )
Iflantheman & Gel1
Thank you so much for the good daily news in review Phil. I love your commentary! It is such a breath of fresh air in the smog cluttered news networks.
RJRoberts
Once again, many muchos for the SODA trade of last week. Finally out of all three legs. I didn't want to wait for expiration tomorrow and the possible peg at $70.00, following your dictum to not get greedy.
Phil: Once again thanks for those inciteful comments, and the old links to Sage's portfolio management (I hadn't read before). I'm an experienced stock trader, but over the last 3 or 4 months have come to appreciate options trading here at PSW, and the consistency of your many premium-selling strategies. It is liberating to have to worry less about getting direction right and being able to generate 5% MONTHLY returns with close to delta-neutral positioning. Much appreciated!
Neverworkagain
New member/1st time posting: Thanks Phil and Pharm for the rec on TOS. I've emailed Scott to get myself setup so I hope to hear back soon. As a newbie on PSW for a month now, I've been readin' and readin' and readin'. Gonna start paper-trading for a while. See how I do before putting a single dime into it. New at options but seems like this is the best training and educational platform out there. I'm a long-time mortgage broker who got too involved with real estate investing. LOVED your article, Phil, on mortgage interest scams. Right on!! Let me know if and how I can contribute back to the community here. Cheers! - Mark
Phil Killed it tonight trading copper. Anyone who jumped in right after election is up about 75k on one contract! Thanks
Kapella
Phil, you are the man. My positions in ABX and CLF are up massively this year, and doing very nicely with USO and UNG. TSR is another winner. Just waiting for the TSLA short now!
Rookie IRA Investor
Phil - I caught the interview…. terrific!. Your host recommended that the viewers should " go to your site, as you will be entertained ". That is for sure if you consider entertainment is laughing while you read, learn and make unbelievable leveraged profits that you never thought were possible. That is my kind of entertainment !
Thanks for the USO directions today. Made it 3 times (up/down/up) for a very nice win.
Doro165
I have been reading the "free" PSW for about a year and have always liked Phil's style as it closely resembled the way I like to trade (mostly naked put options). I have been a paid subscriber for about 5 weeks and I have been learning a lot from Phil and other members. I had made some money on Phil's "free" ideas in the past and I joined because one of Phil's futures ideas paid for my subscription within the same day (NG). Phil deserved my subscription and I was eager to learn more. I just did a quick tally and within the last 5 weeks the ideas that I chose to follow from Phil generated over 25K in options profits and 12K in futures profits (some of my trades were more conservative than what Phil's had suggested). I have a lot to learn, experience and confidence to gain. Thanks again Phil and Successful Trading to all.
Verreaul
Phil, Passed a milestone today since joining 2 months ago. 25% of my account is in buy/writes, bull call spreads and disaster hedges. A majority of the trades were taken directly from your ideas or someone else`s contributions. Some were daytrades that became spreads. That part of my account is up 30% as of today. I don`t worry about it, or mess with it much, did a few rolls etc. Rest of the account is there to day trade, cover the writes and take advantage of opportunities. Thanks to everyone who contributes here, what a sweet way to trade, so many opportunities.
Ben1Be
All I can say is — I understand that the Universe sent me to PSW for a reason. So, I'm listening!! …and studying. Your commentary is literally outstanding. …and your members are impressive as well.
Seaquill
What a quarter! (AAPL, etc.) "People react; PSW'ers anticipate." Thanks everyone for a vibrant board.
Silentstorm
Climate Prediction Swings & Misses: A Decade Of Alarmist Strike-Outs, 2010-2019
'Smart Camera' Data Leak Exposes Personal Data Of 2.4 Million Users
Phil… My portfolio, in the past few months, has acheived a high degree of stabilization. I've noticed that on up days, down days, even days, it doesn't matter, my portfolio rarely varies more than 2%. And over the long haul it just slowly increases in value. I attribute this not to investment choices, but to style. Thanks to you and others on this site I'm paying close attention to position size, delta neutrality, downside protection, and concentrating on selling premium rather than buying it. I've developed increasing patience, not having to trade daily, or even weekly. I'm concentrating on the finer points of trading, letting the profits come to me, rather than the other way around. I appreciate the help everyone here has given in getting me focused on this principle. I'm pumped!…in a calm sort of way.
This site, for me, is where I have learned how to use options & futures. It is also where I get a constant flow of new ideas. In addition, it's great to know that I have many sources, mostly Phil, if I get lost in a trade. I have been here for 8 years, and am grateful to PHIL and fellow members. I manage about half a million, and although I may not always achieve what Phil does, I am not complaining. I have learned so much. Thank you Phil!
I have followed a lot of Phil's picks over the last several years and made money using the exact option strategies he outlines. Of all the contributors on SA, he offers the most actual and ready to implement advice that has put money in my account. Many of us on SA actually are sad when we don't see Phil's postings for an extended period.
Brenteaz
Don't expect to get rich quick here, but you can get easy 30 - 50 % per year, just by buying good stocks at discount (as we often discuss), selling monthly premiums of calls and puts.
Thanks Phil, I have adjusted my position by getting rid of the IYF puts, and selling the FAZ puts. You have so many of these awesome little tricks in your playbook that it really amazes me. I toally love your analogy by the way: Do you want insurance that you have to pay for, or do you want insurance that pays you?
Craigzooka
Started my membership in mid-Oct and have since then learned so much about options by reading the site's articles and postings, members' chats and suggested trades – as a bonus, the articles are entertaining as well! Phil's long-term investing strategy makes really good sense as I've seen its effect on my GLW positions. Phil – thanks for sharing your knowledge of the market! I've worked as risk analyst for the investment dept of a $19B insurance company, and the scope and depth of your daily commentaries blows away what I have seen and heard from the PMs and even the chief investment officer! Most of all, I will continue to be a member because you have your priorities right (from my POV) – it's not all about money and power.
Bai2r
I am not a user of phil's site now, but was for a couple years. His advice and information is excellent. Perhaps even better, you get access to real-time trades of additional traders on his site (OptTrader, etc) and the other members who post what they are buying and selling. Overall, its a very valuable information tool. Expensive, but paid for itself many times over. I did not renew my membership because I switched jobs and did not have time to trade nearly as much.
XRTrader
Phil - Wow…wow. The vision and inate grasp of the options world you posess is rather staggering. It's this type of experience that I really hope to develop. I'm afraid I still can't see the moves, but I WILL learn. I cannot thank you enough for the patience, knowledge and effort you put into this place. Please keep it going!
Thanks Phil another great week of guiding us!
Steven Parker
Phil, 26% on the week for the 20% I day-trade, and since drinking the kool-aid last fall, the whole portfolio has doubled. Have a great weekend !!
JRW III
hil, I hit my targets for the year in my 401K (thanks in no small part to your site), so I cashed out of all positions a couple of weeks ago. Feels good... I'm conservative with this money –looking for 2% per month, which i've been able to do… thx.
Thanks Phil for helping make this a much, much better year this year than last. Your tutelage has been so very helpful. Don't think I can say Thanks enough. And I thanks all the members here who were work hard in helping us all to become better traders, and I would say better people as well. The support many of you offered when we evacuated during the fire this past year helped me immeasurably. Happy New Years to you all!
JBur
Phil- I want to let you know that you really helped me make some money this morning when I probably would have lost on my own. I was stuck in doctors waiting rooms most of the morning starting at 8AM. By following the game plan you laid out and using my smartphone, I went short on oil whenever we got to 61.50 and long at 61 waiting for the spikes ahead of inventory. When 10:30 rolled around I was out after selling longs at 61.60 a few minutes earlier. I went short at 61.75-61.80 and voila, rode it down to 60.60 or so. Thank you.
I have been trading for quite a few years and in good years made about 25%. After joining PSW, I followed closely the PSW strategy and my trading profit for this year is close to 70% to date. For fun, I like to mix in a few "Hail Mary" plays that really worked out well, but overall the simpler Buy/Write strategy, as presented by Phil so often, created the majority of the profit.
I picked up one of your recommended Gold plays, the July ABX 30s and sold the Feb 35s, which are now mostly intrinsic value. Is it time to roll these to the March 37.50s, or should I wait this spike out?
Bill Hoffman
Hey Phil, Your HOV suggestion about 3 months ago basically paid for my Philstockworld subscription for years to come. My average cost is about $1.
Sold out my AAPL mar95 calls. Up over 100% today on them!
2019 Greatest Hits: The Most Popular Articles Of The Past Year And A Look Ahead
One year ago, when looking at the 20 most popular stories of 2018, we admitted that perhaps as a result of too many conflicting narratives and storylines that emerged in 2017 and earlier in the decade, it was difficult to find a coherent theme to the key events that shook the world, and which you, our readers, found most interesting and notable.
Indeed, we said that "it is difficult to say that 2018 provided much needed closure to many of the themes and narratives that emerged in the previous year and earlier, most of which played out in the political arena, where for the first time in decades the non-establishment president of the world's biggest superpower, a manifestation of the "protest vote" that had built up over the past decade, shook to the core everything that the world had taken for granted, setting the stage for a dramatic revulsion from widely accepted norms and principles."
As we had warned for years, the vast if silent majority, feeling snubbed and neglected by the political oligarchy and the world's central bankers, decided to take the power back which they did within the confines of the democratic process, sending the establishment reeling, by rejecting years of legacy narratives by replacing decades of a failed, and flawed, political regime in the US with something… different. And yet, looking back over the past 12 months, and in fact past decade, it remains to be seen if these changes will be successful and bear fruit, or if they will be a change for the worse.
However, amid this confusion, some clarity did emerge: as we look back at the past year, and past decade for that matter, the one thing that becomes clear amid the constant din of markets, of politics, of social upheaval and geopolitical strife, in fact a world that is so flooded with constant conflicting newsflow and changing storylines that some say it has become virtually impossible to even try to predict the future in a world bombarded with a relentless stream of flashing red headlines, that despite the people's desire for change, for something original and untried, the world's established forces will not allow it and will fight to preserve the broken status quo at any price, which is perhaps why it always boils down to one thing – capital markets, that bedrock of Western capitalism and the "modern way of life", where control, even if it means central planning the likes of which have not been seen since the days of the USSR, and an upward trajectory must be preserved at all costs, as the alternative is a global, socio-economic collapse.
And since it is the daily gyrations of stocks that sway popular moods – and explains why none other than the US president is now tweeting almost daily on how the S&P closed on any given day to boost his approval rating and bolster his credibility – the interplay between capital markets and politics has never been more profound or more consequential. Indeed, in a historic moment when the president was impeached by the House (if not the Senate), Trump's natural response was to point to the record high hit that very day in the S&P500. To be sure, so far Trump has been successful – although the correct word is lucky – in that the stock market cooperated in 2019 when it returned an impressive 28.50%, just shy of the best annual return in the past 22 years when it posted a slightly higher return in 2013. Indeed, the S&P has returned more than 50% since Trump was elected in 2016, more than double the 23% average market return of presidents three years into their term.
The more powerful message here is the implicit realization and admission by politicians, not just Trump but also his peers and challengers, that the stock market is now seen as the consummate barometer of one's political achievements and approval. Which is also why capital markets are now, more than ever, a political tool whose purpose is no longer to distribute capital efficiently and discount the future, but to manipulate voter sentiments far more efficiently than any Russian election interference attempt ever could.
Which brings us back to 2019 and the past decade, which is best summarized by a recent Bill Blain article who said that "the last 10-years has been a story of massive central banking distortion to address the 2008 crisis. Now central banks face the consequences and are trapped. The distortion can't go uncorrected indefinitely."
That, in a nutshell, is what every decade introspective boils down to (or should): we had a decade in which the excesses of the past were not only not corrected, but swept under the rug… and under a mountain of debt. Because the tradeoff of pulling years if not decades of growth from the future means that we ended 2019 with global debt of a record $255 trillion, up from $185.4 billion at the start of the decade, and a staggering 330% of global GDP, a level which not even the most liberal economists harbor any belief will have a happy ending.
And while helicopter money, or MMT, is likely the next and final stop for a world careening into the fiat money abyss, for now the music is playing and everyone must dance, to quote Chuck Prince.
Which, in turn, brings us back to the point why 2019 tied a lot of loose ends: you see, in many ways the transition from 2018 to 2019 was a neat recapitulation of some of the core themes of the past decade. When the S&P briefly entered a bear market – one which literally lasted just a few seconds on Dec 24, 2018 – central banks threw in the towel on any attempt to renormalize monetary policy. As a result first the Fed, then all of its central bank peers, proceeded to ease massively in order to avoid a catastrophic market crash, one which would undo a decade of central bank interventions and the injections of over ten trillion in newly-created liquidity, and went all in on perpetuating a failed status quo. The best summary of this came from Bank of America which in a moment of striking honesty, said that "central banks are cutting like it's a crisis" and indeed, the number of rates cuts into late 2019 matched those last seen during the 2008/2009 financial crisis when the global financial system was on the verge of collapse. And yet, this time the global economy was growing at a solid, if not stellar pace (or so we were told), there was no imminent crisis on the horizon with global stocks already trading near all time highs.
Amusingly, it was in our year-end recap from last year published exactly one year ago when we said that "the question we have: how far will the tide be allowed to recede before central banks step in again." We now know the answer: it was just a few months.
What happened? Simple – in late 2018 central banks panicked that they had lost control – and credibility – and they not only reversed all their "renormalization" success, with the Fed going from predicting two rate hikes in Dec 2018 to cutting three time in the summer of 2019, while also launching QE4 (under the pretext of fixing a repo system which was brought to its knees by none other than JPMorgan, which just happens would benefit greatly from a new round of QE), even as the ECB both cut rates deeper into negative territory as it also restarted its own QE less than a year after it ended it.
One explanation for this "crisis" response: China, which over the early part of the past decade had emerged as the world's emergency economic kickstarter, has by now accumulated too much debt to provide the spark needed to reflate the global economy, and drowning under a mountain of (increasingly bad) debt, Beijing was relegated to the economic sidelines unable to trigger another massive debt injection into the domestic economy already suffering from record debt defaults and bank failures, and forcing the Fed and other central banks to take its place. Ironically, the Fed did so even though as former NY Fed president (and ex-Goldman Sachs economist) Bill Dudley admitted in an scandalous op-ed in August, that the Fed could effectively crash the market to secure a recession and prevent a Trump re-election, and it should think hard and deep if it shouldn't do just that. In the end, however, Powell – who had emerged as the target of Trump's angry tweets about the market and economy, sparking debate whether Trump would tell him "You're fired" next – picked kicking the can, even it meant 4 more years of Trump.
And so, with the Fed fully behind Trump and helping the S&P return nearly 30% in 2019, 4 more years of Trump is now virtually assured (barring some unexpected calamity in 2020) because while Nancy Pelosi' crusade to impeach the president ended up being a massive dud, one which has backfired spectacularly with Trump only benefiting from even more moderate support as a result ahead of an inevitable acquittal in the Senate, it was the impressive market performance and resilient economy that won Trump the 2020 re-election one year before the vote even took place. And no, the outcome of the 2020 presidential election has nothing to do with the motley crew of Democratic presidential candidates, ranging from ultra-billionaires to raging socialists who literally are pushing for helicopter money and MMT, or the endless noise that was the "made for popular consumption and flashing red headlines" trade war spectacle between the US and China that bored traders for over 560 days (as the two sides had long ago agreed on the "trade war's" amicable resolution behind closed doors). So for all those Democrats tearing their hair out why Trump is an odds-on favorite to win next year's presidential election, the answer is simple: the Fed, and the Fed's realization that it must capitulate on its renormalization ambitions if it wishes to preserve the artificial levitation of US and global capital markets.
In other words, going back to what we said above, 2019 helped crystalize the realization that politics is now markets, and markets have become political weapons, and why the past decade was, as Bill Blain put it, "a story of massive central banking distortion to address the 2008 crisis." The problem is that this distortion has only made the mess even greater, and the only hope central banks have – in their own words – is if government fiscal stimulus takes over where monetary stimulus ends. Only there is just one problem, or rather 255 trillion problems as shown above, because whereas one could argue that fiscal stimulus is a credible option if the world's wasn't drowning in debt, when global debt to GDP is 330%, it is tantamount to saying that only more debt can fix a debt crisis. Which is effectively what the world's smartest people are saying.
That said, whether the story of 2020, and the next decade for that matter, is one of fiscal or monetary stimulus is of secondary importance: what is key, and what we learned in the past decade, is that the status quo will throw anything at the problem to kick the can. And while many already knew that, the events of 2019 made it clear to a fault that not even a modest market correction can be tolerated going forward. That in turn may explain why the last quarter of 2019 was a mirror image of events from the fourth quarter of 2018. After all, if central banks aim to punish all selling, then the logical outcome is to buy everything, and investors, traders and speculators did just that armed with the clearest backstop guarantee from the Fed in the form of both rate cuts and QE 4.
Meanwhile, for all those lamenting that relentless coverage of politics in a financial blog (which sadly also includes every tweet from Donald Trump), why finance appears to have taken a secondary role, and why the political "narrative" has taken a dominant role for financial analysts, the past year showed vividly why that is the case.
Ironically, if there was one event in 2019 that threatened the status quo, it had nothing to do with capital markets, Trump, the Fed's balance sheet, or the repo market, and everything to do with the repeat arrest of Jeffrey Epstein. Having been unexpectedly arrested for the second time for his involvement in a giant child prostitution ring, one which threatened to take down some of the world's most powerful people, Epstein's incarceration proved extremely uncomfortable to those same people… and then Epstein simply "committed suicide" despite constant surveillance. And just like that the risk that he may name names disappeared forever.
What about China? After all when looking ahead last year, we said that "another assumption that will be tested in the coming year is whether "China no longer matters" for US markets, something which was certainly not the case in 2018." We added that we "have a nagging suspicion that whether or not the US manages to avoid a recession in 2019 any global shock will ultimately come out of Beijing, regardless of whether Trump and Xi manage to find a common language and put the trade war between the two nations aside." The answer is that despite much speculation that 2019 would be the year that China's economic and financial bubble (at $40 trillion, the country's financial system is double that of the US) finally bursts, Beijing managed to once again avoid a hard landing. Ironically, it did so on the back of the trade war with Trump, which provided Xi Jinping with just the right amount of scapegoating on which to blame not only China's economic slowdown, but the complete failure of its credit impulse to rebound from cycle lows, and the sharp spike in both bank failures and record corporate defaults. After all, who will pay much attention to the underlying Chinese economy is Beijing can blame the US trade war for all its ills? And that's precisely what happened in 2019, a year when China blamed Trump for all its woes, even if in reality China's slowdown started years ago, and will only accelerate in the coming year, especially if much of the "trade war" is now resolved.
Ironically, as China's Xi Jinping blamed trade war with Trump for its slowdown, Trump in turn used the buoyant US economy and record US stock market to redirect public attention from the 3-year long attempt by democrats to overthrow the sitting US president. As a reminder, 2019 was the year when the Mueller probe into Trump "collusion" with Russia crashed and burned to the chagrin of much of the liberal "fake news" propaganda; however, just months later the narrative was reborn when a "whistleblower" triggered in a carefully staged script which saw Trump become only the third US president to be impeached by the House over what Democrats claimed was an illegal attempt to force Ukraine to "interfere with US democracy." The end result was twofold: the House, where Democrats have had a majority since the midterm elections, impeached Trump and… the nation yawned, realizing that the GOP-controlled Senate would nullify the impeachment especially since the Democrats failed in their primary mission: to convince moderate voters that Trump indeed deserves to be thrown out.
And yet, with the 2020 elections looming, it is certainly true that anything can still happen, only as with all true "black swans", it won't be what anyone had expected. And so while many themes, both in the political and financial realm, did get some closure, dramatic changes in 2019 persisted, and will continue to manifest themselves in dramatic, often violent and unexpected ways – from the unprecedented obsession with everything Trump does, says and tweets, to "populist" upheavals in Europe and around the developed world, to China's fight with soaring food inflation in a time when the central bank desperately needs to ease financial conditions.
As always, we thank all of our readers for making this website – which has never seen one dollar of outside funding (and despite amusing recurring allegations, has certainly never seen a ruble from the KGB either, although now that the entire Russian hysteria episode is over, those allegations have finally quieted down), and has never spent one dollar on marketing – a small (or not so small) part of your daily routine. Which also brings us to another amusing topic: that of fake news, and something we – and others who do not comply with the established narrative – have been accused of. While we find the narrative of fake news laughable, after all every single article in this website is backed by facts and links to outside sources, we find it a dangerous development, and a very slippery slope that the entire developed world – is pushing for what is, when stripped of fancy jargon, internet censorship under the guise of protecting the average person from "dangerous, fake information."
To preserve its counter-establishment aura, it goes without saying that the current administration should overturn this blatant attack on the First Amendment, and let people decide for themselves what is and isn't fake news. If anything, it is the conventional, mainstream media, most of which is owned by a handful of corporations with extensive ties to the government, that demonstrated on many occasions not only in 2019 but in the past decade that it is the primary creator and distributor of "fake news", something which has not escaped the broader US population the majority of which no longer trust conventional news media.
In addition to the other themes noted above, we expect the crackdown on free speech to accelerate in the coming year, especially as the following list of Top 20 articles for 2019 reveals, many of the most popular articles in the past year were precisely those which the conventional media would not touch out of fear of repercussions, which in turn allowed the alternative media to continue to flourish in an orchestrated information vacuum and take significant market share from the established outlets by covering topics which the public relations arm of established media outlets refused to do, in the process earnings itself the derogatory "fake news" condemnation.
We are grateful that our readers – who hit a new record high in 2019 – have realized it is incumbent upon them to decide what is, and isn't "fake news."
And so, before we get into the details of what has now become an annual tradition for the last day of the year, those who wish to jog down memory lane, can refresh our most popular articles for every year during our no longer that brief, almost 11-year existence, starting with 2009 and continuing with 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017 and 2018.
So without further ado, here are the articles that you, our readers, found to be the most engaging, interesting and popular based on the number of hits, during the past year.
In 20th spot, with just over 400,000 reads, was a question or rather "7 Unanswered Questions About Epstein's Death That The Mainstream Media Is Not Talking About" and for good reason: with few media outlets daring to touch the "Jeffrey Epstein" topic when he was alive, it only emerged after his death that at least one major network, ABC News, spiked a piece on Epstein's potential ties with the top echelons of American power. As TV anchor Amy Robach was heard saying on a hot mic, "Do I think he(Epstein) was killed? 100% I do…He made his whole living blackmailing people. There were a lot of men on those planes. A lot of men who visited that island. A lot of powerful men who came into that apartment." The spiking of the Epstein story came around the time it emerged that NBC deliberately suppressed evidence that Michael Avenatti lied about Brett Kavanaugh and fabricated a false accusation against him. In light of so many attempts by America's mainstream press to keep the population in the dark, is it any wonder that trust in media institutions has collapsed and that Americans increasingly seek out alternative venues of information?
In 19th spot of the year's most popular articles, we received another vivid reminder that in US society a handful continue to be "much more equal" than everyone else, and the only thing that really matter is the size of one's bank account. Over 401,000 readers were shocked to learn that "Feds Arrest Dozens, Including Actresses and Ex-Pimco CEO, In "Largest College Admissions Scam Ever Prosecuted. " While most Americans' children had to fight tooth and nail, study countless hours and dedicate even more time to extracurricular and charitable activities to get into the college of their choosing, the kids of a more than a handful of rich Hollywood parents and financial oligarchs had found a short cut – their parents paying bribes to fast track their admission into top universities across the land. And yet, even here the elite remained "more equal" – while a handful of prison sentences have been handed down, the longest one so far was a mere 6 months, with most parents getting a few token days in jail or some community service. It remains to be seen if college bribery has been snuffed out, although if that is the full extent of the deterrence we seriously doubt it.
in 18th spot, with nearly 403,000 reads, was our report on the Fed's emergency response to what some had predicted would be a year-end repo market crisis. Just days after Credit Suisse and former NY Fed repo guru, Zoltan Pozsar predicted that the Fed would be forced to unleash hundreds of billions in liquidity in the form of QE4 to avoid a lock up of the repo market following the September repo market fireworks which briefly saw the overnight repo rate soar as high as 10%, the Fed did just that, only instead of launching QE4, the US central bank unveiled that it would backstop up to $500 billion in liquidity in the one month period following mid-December to prevent another repo market crisis as we explained in "Massive… Huge… Largest Ever": Fed Will Flood Market With Gargantuan $500 Billion In Liquidity To Avoid Year-End Repo Crisis." The result was a remarkable surge in the Fed's balance sheet which soared by $400 billion since its late August nadir, in the process unleashing an unprecedented year-end stock market meltup which helped send stocks soaring to new all time highs just in time for the 2019 holidays which in turn translated into record online spending as US consumers were delighted to see the value of their brokerage accounts and 401(k)s hit all time highs. The question now is whether – and if – the Fed will be able to drain all of this freshly created liquidity as we enter the new year.
In 17th spot was a bizarre twist in what was part of the biggest political scandal of 2019 – Trump's impeachment – which was started after second-hand "whistleblower" accused Trump of threatening to withhold funding to Ukraine unless former VP Joe Biden, and Trump's current democratic challenger for the 2020 elections, was investigated for corruption. And while by now the identity of the "secret" whistleblower, who appears to have been an ideologically biased, never-Trump CIA officer, is known 405,000 readers were surprised to read that he had gotten cold feet about testifying after revelations emerged that he worked with Joe Biden, former CIA Director John Brennan, and a DNC operative who sought dirt on President Trump from officials in Ukraine's former government. In the end, Trump was impeached in the House, although with impeachment in the Senate impossible and with moderate voters increasingly appalled by Nancy Pelosi's tactics, it appears that this gambit backfired dramatically for the Dems.
We were not the only one surprised to receive an email from a Fed staffer in August seeking more information on an article we had written which not only predicted the September repo fireworks, but also explaining why the Fed would soon be forced to launch QE: over 408,000 readers agreed with us that "When You Get An Email Like This From The Fed, It May Be Time To Panic." As we wrote in the article, which came out a full month before the Sept 11 repo crisis and two months before the Fed's restart of QE, "based on the Fed's email, we wonder if it means the Fed is now seriously contemplating [QE4], and if so, does the market crash first, or is it about to price in QE4 and soar. We expect to find out very soon." We did: one month later the repo market tanked, sparking a mini stock market swoon, which immediately gave way to a massive liquidity injection by the Fed, and as stocks priced in QE4, they indeed soared. incidentally, as we also predicted earlier in August, the Fed indeed launched QE4 in early October. The rest is record stock market history.
In 15th spot, and going back to the propaganda front that is US mainstream "media", we quoted a CBS News reported who said "I'm Committing Professional Suicide" after admitting that "Mostly Liberal" Journalists Are Now "Political Activists." Nearly 420,000 readers heard CBS reporter Laura Logan admitting that "the media everywhere is mostly liberal, not just the U.S.," adding that it was nearly impossible for viewers to decipher if they were being told the truth at any given time. She also admitted that journalists today are more or less lobbyists for liberal interests, adding that the weight of the liberal media machine overwhelms "the other side" unless people actively seek outlets such as Breitbart. With more and more lies emerging from the mainstream, it is hardly a surprise that that's precisely what people are doing.
Shifting back from media to central banks, the 14th most read article of the year involved a stunning warning by the Dutch Central Bank whose Freudian slip that "if the system collapses, the gold stock can serve as a basis to build it up again" amazed nearly 430,000 people. In additional to admitting that systemic collapse is not only possible, it may be just a matter of time, the bank also added that "gold bolsters confidence in the stability of the central bank's balance sheet and creates a sense of security." The bank's admission that "a bar of gold retains its value, even in times of crisis. This makes it the opposite of "shares, bonds and other securities" all of which have inherent risk and prices can go down" sounded like the pitch from a gold ad which is why it was especially surreal and prompted question if there is more to the wholesale gold repatriation among European nations than meets the eye.
From central bank printers of money, to printing money with the world's oldest profession, in 13th spot and seen by over 443,000 readers was our question "Why Are So Many Top-Tier College Girls Turning To 'Soft Prostitution'?" The question, in retrospect, was rhetorical and undoubtedly linked to the country's $1.5 trillion student debt problem. Still, it poses some unpleasant social questions if 15,277 female students at Georgia State, nearly one in ten girls at the college, were willing to whore themselves out to websites such as Sugar Babies.com in order to make ends meet.
And from prostitution to pedophilia, in 12th spot we go back to Jeffrey Epstein, whose death left far too many questions unanswered. Which is why the emergence of his 'tapes' was a matter of great public interest and why over 443,000 readers tuned in to listen to the "Epstein Tapes: Dead Pedophile Describes His Lifestyle In Unearthed Recordings." The tapes, the remnant of an Epstein 2003 interview, offered his thoughts on subjects ranging from mathematics, to exorbitant wealth, to the important of prenuptial agreements. Alas, there was no hint who may have "suicided" Epstein himself some 16 years later. More importantly, this was most likely the last time we'll ever hear from Epstein, as dead pedophiles tell no tales.
In 11th spot, 445,000 readers got a vivid reminder that the "science" behind global warming can be as "scientific" as the propaganda behind mainstream media. As we reported in "Glacier National Park Quietly Removes Its "Gone By 2020" Signs", officials at Glacier National Park had begun quietly removing and altering signs and government literature which told visitors that the Park's glaciers were all expected to disappear by either 2020 or 2030. Why? Because GNP's most famous glaciers such as the Grinnell Glacier and the Jackson Glacier have been growing - not shrinking – since about 2010. Of course, don't ever let facts stand in the way of good propaganda narrative, something which 16-year-old anti-global warming crusader Greta Thunberg and her fame and limelight hungry parents discovered at roughly the same time.
When it comes to politics, 2019 wasn't just about the collapse of the Russia collusion narrative in the first half of the year, and Trump's impeachment in the second: the "other" big story throughout the year was the (seemingly endless) field of Democratic presidential candidates, yet where one name was missing: that of Hillary Clinton. Which is why in September we asked "Is Hillary Gearing Up For Late-Stage Do-Over Against "Corrupt Human Tornado" Trump?" in which we cited bookies' bets and a few recent actions, which sparked fresh speculation that Hillary Clinton may be about to enter the Democratic Party presidential nominee race. So far such speculation has not materialized, although just like Mike Bloomberg, Hillary may merely be waiting for her competition to tear itself apart before she makes her glorious entrance, culminating with a repeat of the 2016 presidential election.
And from politics back to capital markets, where as more than 475,000 people learned there was no more market moving report than the one published on December 9 by Credit Suisse repo guru Zoltan Pozsar, titled "Countdown to QE4", in which the former Fed and Treasury staffer predicted that "It's About To Get Very Bad", and that the Fed would lose control of the repo market into year end due to a massive liquidity shortage resulting in an imminent market crash, and only another massive liquidity injection in the form of QE4 could prevent a crisis. In the end, the Fed did not launch QE4 – after all it had already started QE4 back in October (the expansion from T-Bills to coupons will happen some time in early to mid-2020), however the Fed's massive, $500 billion year-end liquidity injection and backstop would almost certainly not have happened without the Pozsar report sparking a mini panic within the Fed. As such while Pozsar did not correctly predict the Fed's reaction, his lucid explanation of the faults within the repo system prevented what could have been a dire year-end crisis (which we assume earned the Hungarian a Christmas Card from the Trump administration).
It may come as a surprise to some that Central banks are not only in the market rescuing and money printing business: they are now active agents when it comes to fighting climate change. And since the past decade has demonstrated that any gospel accepted by central banks as fact is almost certainly a lie, we were not shocked to learn, although it did comes as a surprise to over 530,000 readers that in a "Bombshell Claim: Scientists Find "Man-made Climate Change Doesn't Exist In Practice. " The study, which resulted in our 8th most popular article of 2019, and which has yet to be featured by any mainstream media, has crippled flawed fundamental assumptions underlying controversial climate legislation after scientists in Finland found "practically no man-made climate change" after a series of studies. "During the last hundred years the temperature increased about 0.1°C because of carbon dioxide. The human contribution was about 0.01°C", the Finnish researchers bluntly state in one among a series of papers. Or, as Greta Thunberg would say, "how dare they."
In 7th spot, with over 540,000 reads, was the surprise news that bizarrely, and for no reason at all, in mid-March Facebook decided to ban Zero Hedge. In some ways we were lucky: unlike other websites, only a tiny fraction of our inbound traffic originates at Facebook, with most of our readers arriving here directly without the aid of search engines or referrals. And while after several days of vocal complaints by our readers about the ban, Facebook reversed the ban, we are confident it is only a matter of time before Facebook – and other social media sites – bans a "conspiracy theory" site like Zero Hedge for good. Which reminds us that it is time to start thinking of Plan B.
In 6th spot, with over 575,000 views was a reminder that even as the US economy continues to grow, for millions of student-debt borrowers life remains unbearable. And so, as we wrote in "Debt-Laden Americans Flee Country To Escape Crushing Student Loans ", faced with crushing student loans and little ability to repay them, some Americans have taken to fleeing the country in order to escape their debt. "It's kind of like, if a tree falls in the woods and no one hears it, does it really exist?" said 29-year-old Chad Haag, a millennial who – like millions of his peers – is about to find out the hard way that one can't just pick up and disappear from his problems.
In 5th spot was a surprising report from the Rand corporation, according to which the US better not escalate its trade war with China into something more "kinetic." 687,000 readers learned that during simulated World War III scenarios, the U.S. lost against both Russia and China: "In our games, when we fight Russia and China, blue gets its ass handed to it." Of course, the report had a simple, ulterior motive: to boost the defense budget with more taxpayer money: "$24 billion a year for the next five years would be a good expenditure" to prepare the military for World War III.
Over 708,000 people tuned in, shocked to learn in August that despite being placed in a maximum security holding cell, and having been on suicide watch, pedophile millionaire Jeffrey Epstein managed to kill himself by chocking himself with a bed cover. Of course, nobody believed it, which is why "Outrage Surged Over Epstein's Mysterious Suicide. " Alas, with the video camera recording Epstein mysteriously broken, and with a lengthy probe into the guards who were supposed to keep Epstein safe only just beginning, the likely outcome is that one that Epstein's killer wanted: to shut the pedophile with the massive rolodex for good.
Something odd happened on June 2: for a few minutes that dayGoogle Cloud went offline, an outage which adversely affected Gmail, YouTube, SnapChat, Instagram, and Facebook. And while over 812,000 people wondered alongside us if "the Government Just Test The Internet Kill Switch", making this the 3rd most popular post of the year, even a more innocuous explanation left many questions unanswered, namely if just one cloud service going offline can cripple the key nodes of the modern internet, what will happen during the next major cyberattack on US soil, and will US economic productivity finally jump at that moment?
Not one year passes without Deutsche Bank somehow making its way into the Top 20 article, and 2019 was no exception. Over 1.1 million readers tuned in to ask and debate whether "A Bank With $49 Trillion In Derivatives Exposure Is Melting Down Before Our Eyes." One look at Deutsche Bank's stock price and the answer becomes self-evident.
Finally, in what was a surprise to us, the most read post of the year with 1.4 million hits, had nothing to do with capital markets, with politics, or with the latest failed CIA coup in some middle-eastern nation. Instead, it was a report exposing the hypocrisy of those "greens" who buy electric cars to virtue signal, yet are unaware that doing so results in far worse environment consequences as we wrote in "Electric Car-Owners Shocked: New Study Confirms EVs Considerably Worse For Climate Than Diesel Cars." We can only hope that our conclusion that "maybe Elon Musk's plan to save the world with electric cars is the biggest scam of our lifetime" will prompt at least one or two readers to think again before splurging on that brand new Model S.
With all that behind us, and as we wave goodbye to another bizarre if exciting yet and a truly surreal decade, what lies in store for 2020, and the next decade?
We don't know: as frequent and not so frequent readers are aware, we do not pretend to be able to predict the future and we don't try despite endless allegations that we constantly predict the collapse of civilization: we leave the predicting to the "smartest people in the room" who year after year have been consistently wrong about everything, and never more so than in the last three years, which destroyed the reputation of central banks, of economists, of conventional media and the professional "polling" and "strategist" class forever. We merely observe, try to find what is unexpected, entertaining, amusing, surprising or grotesque in an increasingly bizarre, sad, and increasingly crazy world, and then just write about it.
We do know, however, that after $16 trillion in liquidity has been conjured out of thin air by the world's central banks, as QE makes a triumphal return to both the US and Eurozone, and as interest rates are once again sliding to unprecedented lows, the entire world is floating on an ocean of excess money, which in 2019 once again succeeded in masking just how ugly the truth beneath the calm surface is.
We are confident, however, that in the end it will be the very final backstoppers of the status quo regime, the central banking emperors of the New Normal, who will eventually be revealed as fully naked. When that happens and what happens after is anyone's guess. But, as we have promised – and delivered – every year for the past ten, we will be there to document every aspect of it.
Finally, and as always, we wish all our readers the best of luck in 2020, with much success in trading and every other avenue of life. We bid farewell to 2019 with our traditional and unwavering year-end promise: Zero Hedge will be there each and every day – usually with a cynical smile – helping readers expose, unravel and comprehend the fallacy, fiction, fraud and farce that the system is reduced to (ab)using each and every day just to keep the grand tragicomedy going for at least one more year.
This entry was posted on Tuesday, December 31st, 2019 at 7:35 pm and is filed under Immediately available to public. You can leave a response, or trackback from your own site.
Hello Phil, Thanks for the heads up on the comming sell off on friday, and the bs job yesterday. your our guiding light!
It was a nice day thanks to your help! Made over $1100 shorting TF every time it came up near 1260 and even more by going long oil before inventory under $46 and then waited patiently for the spike up into the close where I shorted it at 47.70 or so. Phil you gave me a road map and I simply followed the signs along the way.
Phil, I just wanted to say thanks for being there. The world needs more of you. Your site continues to positively change my life daily.
Chasw
Peace of mind / I have a portfolio mainly consisting of long term long calls, short term short calls and puts, and long term BCS. Three years, ago when I started my journey on this board I would be freaking out panicking as to what to do, as many of the short calls are ITM, Three years later (today) I look at the screen and serenely process the information. Three years ago, I inevitably made the wrong decisions which cost me a lot of money. Three years on I calmly roll the positions to whatever makes sense. No drama, no hair pulling, and a great cost saver. I guess they call that the power of education.
Phil - It is nice being more discipline with my trading. Generally, I am out earlier than most, but my results, overall, are much better than they were when I was trying to squeeze 80 cups of lemonade out of one lemon! On the other side, I am learning the value of rolling and turning losses into non-losses or small gains. I so appreciate the time you have spent with me and others who have benefited greatly from your knowledge. Thank you!
100KP dividend plays - FYI, I'm loving them...thanks, Phil!!! Including the $0.848/share dividend, I am up 100% on my $2.38 net entry on LYG...that's pretty cool!
SSDirk
I subscribed to Phils Stock World full service for a year or so and found that it was extremely helpful. Now I just get the Stock World Weekly summary, which I find invaluable. Phil does not baby people and certainly can't make someone into a successful stock operator who does not make the effort on their own behalf, but he is extremely generous with his time in answering newbie questions. Although I found it difficult to follow and implement all his trades in real time, what I did find was that once you got the hang of his methodology and way of thinking, you could work out your own trades and be quite successful. Even just using his patent Rule Number One* alone is worth its weight in gold. Rule Number Two is even better.


Easter isn't far away, which means way too much chocolate and hot cross buns here at the Deep House London office and the only way to shift all that extra weight you're liable to put on over the holiday period is to get out that and dance it off. Over the Easter bank hol promoters usually amass some of their deadliest line-ups for the first quarter of the year and 2014 is no exception. We've trawled through the endless list of events that are happening this week to bring you our choice selections for both London and the rest of the UK, aren't we nice eh?
Like secretsundaze, mulletover is a London clubbing institution and this party marks a very special occasion as they celebrate 10 years in the business. As most of you will appreciate, it's not easy to survive for so long in London's increasingly competitive clubbing market, so mulletover's anniversary is definitely one worth celebrating in style. Their curation is on point as always with French maestro Dyed Soundorom on the bill alongside Laura Jones, Ryan Elliot, Meat, Futureboogie Recordings and mulletover's very own Geddes.
The London promoters (who we just interviewed) are pushing things forward as ever this year. For Easter they take the party up high at Zinc in the West End, where Franck Roger and Mark E, plus Dan and Kieran themselves of course. Their party takes place on the 31st floor, so be prepared for some awesome views as you party the night away.
The King's Cross club continues to bring in some of the heaviest line-ups with this party, where they host mobilee's Back To Back Tour. Mobilee family members Ray Okpara and Rodriguez Jr. represent the Berlin-based outfit, while the UK's Ejeca and Ralph Lawson bring the heat along with Ranacat. Should be a big one.
Not a weekend goes by when fabric hasn't got some kind of mouthwatering line-up and Easter bank holiday is no exception. Hot Creations superstar Jamie Jones takes charge of room 1, with Leeds' finest PBR Streetgang and Mr fabric himself, Craig Richards. Room 2 sees Terry Francis play alongside Paul Woolford and Funkinevil (Kyle Hall and Funkineven b2b), while room 3 is Kyle Hall, Jay Daniel and the mighty MGUN.
Up in the north there's plenty more stuff to get your teeth into, including this not-to-be-missed event. The legendary Theo Parrish is at the controls for almost the entire night for Nest Presents at The Warehouse. You'd have to be mad to miss this one.
Masters of bringing the real party vibes to any club they visit, Soul Clap and their extended family descend on Manchester's infamous Sankeys for their Crew Love event. It goes without saying that this party will be going off big style all night long – expect house, garage, hip hop, RnB and plenty of rare jams.
Elsewhere in Leeds Canal Mills and mono_cult team up to present a festival-esque line-up for their day and night party. Tale Of Us, Joy O, Move D and Axel Boman are just four of the names guaranteed to give even the most diehard raver palpatations in anticipation of the event. It's on from 6pm to 4am, so be prepared for a marathon session.
Below are renowned for their stellar line-ups, which always manage to assemble the perfect combination of names to fully represent underground house and techno. These guys don't mess around and the calibre of DJs for their Easter party is a testament to that. Zip, Mr.G, Alex Arnout, Tom Craven, Jessica Lamb and, of course, Adam Shelton and Subb-an.. need we say more?
Yousef gives the Liverpool faithful a huge Easter gift with his Circus event. Not only will the man himself be going back to back with Bristol hero Eats Everything, but you'll also be treated to sets from Joris Voorn and Visionquest (Lee Curtiss, Ryan Crosson and Shaun Reeves), plus Lewis Boardman and Scott Lewis.


text:
SENSO is Ready to Explore 6 NFT Use Cases on Polkadot
Sensorium Galaxy, an ambitious and widely talked-about metaverse project, has announced that it would soon introduce NFTs and move its SENSO token to a new blockchain built on Substrate. This marks a new step in the development of the metaverse, since other platforms have only explored the possibilities of issuing Ethereum-based NFTs.
Two reasons why the metaverse and NFTs are such a good match
When NFTs emerged as one of the key blockchain trends in 2020, metaverse creators quickly realized their explosive potential for the virtual space. A metaverse – especially one with a dynamic internal economy, such as Sensorium Galaxy – is filled with virtual assets that can be bought and sold: avatars and accessories for them, event tickets, artworks, and so forth. All of these can be encoded and traded as non-fungible tokens (NFTs).
Someone might note that games like DOTA2 have allowed users to trade in-game items for years on Steam, so why introduce NFTs for the same purpose?
An expert from the team of SENSO (internal currency of Sensorium Galaxy) explains it this way: NFTs allow to turn game assets into stand-alone virtual assets. In a way, they are detached from the fabric of a game or a metaverse and can be traded freely, through any blockchain marketplace or even in the P2P mode, directly between users. There's no way to do this with a Counter Strike weapon skin, for example.
Another reason to use NFTs in the metaverse is that non-fungible tokens can appreciate with time, serving as a sort of a long-term investment. The appreciation of NFT artworks in the secondary market is proof of this: for instance, Beeple's CROSSROADS was originally sold by the artist for around $66k on Nifty - and was later resold for $6.6 million.
Crossroads by Beeple. Image: ArtNews
Why Substrate is better for metaverse NFTs than Ethereum: a SENSO expert explains
A different matter is which blockchain to use for minting NFTs. For now, the only fully operational metaverse-like platform to feature NFTs is Decentraland, runs on the Ethereum blockchain. But while Ethereum remains the most popular platform for issuing non-fungible tokens, it may not be able to handle the sheer volume of NFTs minted and traded within a large metaverse.
The chain can only process 14 or 15 transactions per second: this includes DeFi apps, NFT sales, on-chain transfers from wallets to exchanges and back, and all other transactions with ether and Ethereum-based tokens. Since all dApps compete for miners' computational resources, the whole network can freeze if one of them grows rapidly, as it happened in 2017 when the NFT game CryptoKitties.
According to the same SENSO team member, it was clear from the start that a large and complex digital metaverse like Sensorium Galaxy would need a better blockchain solution than an Ethereum-based dApp. The choice fell on Substrate – a framework that allows developers build their own blockchains using premade modules.
How SENSO will gain from a move to Substrate
The resulting network should be both fast and cost-efficient: for example, Polkadot (the best-known Substrate-based project) can reportedly scale to 1,000 transactions per second. As for transaction costs, it's the developers who determine how much users will need to pay; in any case, it's likely that the fee (paid in SENSO) will be lower than Ethereum's current (at the time of writing) fee of $2.10.
An added advantage is that anything that's Substrate-based is automatically compatible with the ecosystem of Polkadot, which already has o ver 450 projects under development, including wallets, exchanges, oracles, bridges to other blockchains, etc.
At the moment, SENSO is still an ERC-20 token running on Ethereum; it's available on seven popular crypto exchanges, including Poloniex and KuCoin.
Artwork for the PRISM world
Bringing digital metaverse NFTs over to Polkadot with SENSO
Sensorium Galaxy is a soon-to-be-launched digital metaverse of entertainment. It will feature several words, each with its own theme, ambiance, and activities, both free and premium. For example, the first world is PRISM, designed to look like a foreign planet. It will host electronic music concerts in virtual reality, including by chart-topping artists like David Guetta, Carl Cox, and Black Coffee. Concert tickets will be issued as NFTs and sold primarily for SENSO, the native token of the digital metaverse.
David Guetta being digitized with motion capture sensors to create an avatar. Image: VRFocus
According to the recently published Light Paper, NFTs will have a wide range of uses in Sensorium Galaxy:
Avatars: both those of real users and AI-powered avatars;
Digital identity: this interesting concept refers to user avatars that have both been customized by their owners and have evolved (through machine learning algorithms) to copy the owner's behavior and communication style. Such avatars acquire a certain degree of autonomy: when the user is not online, they continue to communicate with other avatars, acting as the owner's stand-in;
UGC (user-generated content): players will be able to design new items for the digital metaverse: artworks, avatar clothing, and even avatars themselves. Such items will be traded in a built-in NFT marketplace, while those offered by the platform will be available from the built-in Sensorium Galaxy store;
AI-generated content: this type of NFTs is so far unique to Sensorium Galaxy and SENSO. AI-powered avatars will be able to create music, dances, and other content, and make it available as NFTs. Digital humans creating digital art and selling it for digital currency: a very advanced concept indeed.
Event tickets: among the confirmed premium activities are VR concerts in the PRISM world and dance performances, festivals, and awareness or meditation sessions in the underworld MOTION world; it remains to be seen which of these will be offered on a premium basis;
Exclusive merchandise, etc.
One of the AI DJs that will populate the digital metaverse of Sensorium Galaxy / SENSO
NFTs will be closely integrated with SENSO tokens. For example, one will need to pay a fee in SENSO to mint a non-fungible asset and list it on the marketplace; SENSO will be the default payment option when paying for NFTs, and so on.
Not only SENSO: more NFT projects on Substrate/Polkadot
So far, Sensorium Galaxy / SENSO is the largest metaverse project to have officially announced a move to Substrate. However, there are other entertainment-focused platforms and dApps that are planning to build NFT dApps within the ecosystem of Polkadot.
SubstratePunks
This was the first NFT project to go live on Substrate. SubstraPunks look just like the hugely popular Ethereum-based CryptoPunks, but the price range is vastly different: a Substrapunk is worth about 5-6 KSM ($800-900), while a CryptoPunk can sell for dozens of thousands of dollars. The project is built on an NFT chain called Unique Network; as of the time of writing, it was preparing for the mainnet launch, so the Substrapunk marketplace was only partly operational.
Image: Unique Network
Efinity
Efinity is a Polkadot-based NFT blockchain built by Enjin, a gaming-oriented platform that offers software development kits (SDKs) for creating digital assets on Ethereum. The company is also known for designing ERC-1155, one of the two main Ethereum NFT token standards.
Enjin has raised $18.9 million to fund Efinity. Just like other Substrate-based projects, the platform will be compatible with all other Polkadot chains, as well as with external blockchains through a system of bridges. CTO Witek Radomsky has even used the phrase 'a metaverse of blockchains' to describe the future of digital assets – an interesting parallel to the digital metaverse of Sensorium Galaxy with its SENSO token, which also aims to create a large entertainment ecosystem.
Kanaria
Image: Kanaria
Kanaria is the first live NFT launchpad that is native to Kusama, the experimental network for Polkadot. As Polkadot itself isn't operational yet, developers use Kusama to test out their dApps. The name 'Kanaria' comes from the fact that Kusama is also known as the canary network: in the old times, it was customary to let a canary fly into a mine to test the air: if the concentration of dangerous gases was too high, the canary would die.
Users can buy eggs, out of which various digital birds will ultimately hatch; eggs come with various rare traits and accessories. Just like Sensorium Galaxy users will need SENSO to pay for NFTs, you need KSM (Kusama) to pay for Kanaria eggs. They are surprisingly pricey: a Rare egg costs around 20 KSM, or $3,400.
The NFT ecosystem on Substrate is in a very early stage of development; in fact, pilot parachain auctions have just started on Kusama, so the launch of the first blockchains on Polkadot is still months away. However, as development teams are looking for scalable alternatives to Ethereum, more and more will turn to Substrate and Polkadot with their high throughput, low costs, and interoperability features. Pioneering projects like the digital metaverse of Sensorium Galaxy and its SENSO token will lead the way, and dozens more will soon follow.
Galaxy Blockchain Token Development Assets Ethereum Platform DApp Transaction Game
Uniswap Makes Positive Moves but Lacks Buyers at Higher Price Levels
RPGC Token: What Makes It Unique?
Polkadot Faces Stiff Resistance at $27 High, May Slide to $23 Low

redpajama_set_name: RedPajamaCommonCrawl


text:
Pieck Range är en bergskedja i Antarktis. Den ligger i Östantarktis. Norge gör anspråk på området.

Pieck Range sträcker sig  kilometer i nord-sydlig riktning. Den högsta toppen är Zwieselhøgda,  meter över havet.

Topografiskt ingår följande toppar i Pieck Range:

 Søkkhornet
 Zwieselhøgda

Kommentarer

Källor

Berg i Antarktis 2000 meter över havet eller högre

redpajama_set_name: RedPajamaWikipedia


text:
Home World News Military
Generals Testify on Afghanistan Withdraw: At least 4,000 Americans left behind
in Military
Screen grab
US Arms Makers Can't Keep Up With Pace Of Weapons Sent To Ukraine
Navy Stops Boat Smuggling 2,000 AK-47s From Iran to Yemen
The Senate Armed Services Committee got some answers Tuesday from Defense Secretary Lloyd Austin; Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff; and Marine Gen. Kenneth McKenzie Jr., commander of U.S. Central Command.
Most questions from senators focused on the Biden administration's botched withdrawal from Afghanistan, but they also wanted to know about Milley's now infamous calls to his Chinese counterpart, Gen. Li Zuocheng of the People's Liberation Army, while Donald Trump was still president.
"How many American citizens in your opinion are still there?" Inhofe, the committee's ranking member, asked about Afghanistan.
The military leaders indicated they aren't sure how many American civilians remained behind after the military evacuation.
Austin at first deferred the question to the State Department.
Inhofe noted that early estimates by Secretary of State Antony Blinken were that between 10,000 and 15,000 Americans were left behind.
"They evacuated some 6,000. That would mean a minimum of 4,000 would still be there now. Would anyone disagree with that?" Inhofe asked.
After a few seconds, the Oklahoma Republican said: "By your silence, I assume you agree."
Austin addressed the question, but not with a direct answer.
"I personally don't believe that there are 4,000 American citizens still left in Afghanistan, but I cannot confirm or deny that, Senator," Austin said.
After the chaotic evacuation and the deaths of 13 U.S. service members, Biden characterized the retreat from Afghanistan as an "extraordinary success."
Later in the hearing, Blackburn asked: "Is leaving Americans behind an extraordinary success?"
Austin answered: "We are not leaving Americans behind."
They're saying there's a minimum of 4000 US citizen still left in Afghanistan. pic.twitter.com/ei90CUs2nY
— The Dirty Truth (Josh) (@AKA_RealDirty) September 28, 2021
7 Key Takeaways-SOURCE-Daily Signal
Tags: afghanistan evacuationAustinGeneral Mark MilleyLloyd J III
Biden to fine companies $70,000 To $700,000 for violations of Vaccine Mandate
New Poll: Majority Don't Trust Biden On COVID
Joe Biden Says 98% Of Americans Must Be Vaccinated Before Country Can Get Back To Normal


Broadway by Special Arrangement is a collection of eleven songs arranged for the instrumentalist wanting to play in a Jazz style -without the need to learn to improvise. This volume contains the Piano accompaniments only for all of the solo instrument books.
The 'classically' trained amateur or professional performer, or the intermediate-level student (III-IV), will enjoy playing these expertly arranged Broadway melodies just for fun or to include as a light piece on a recital or solo-feature concert performance. The ballads and medium to up-tempo swing tunes are arranged with a play-through of the melody followed by a written-out 'variation chorus, a return to the melody, and an ear catching ending.
For the jazzer, here is a chance to learn Broadway tunes and to explore playing ballads and the swing style of popular standards. Chord symbols are included to allow for improvisation.


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Devine Guidance
Labeling and Packaging Control
By Dr. Christopher Joseph Devine
Labeling and what constitutes being a label can be confusing for device manufacturers. This week, Devine Guidance explains 21 CFR, Part 820 – Subpart – K, Labeling and Packaging Control, specifically 820.120 (Device Labeling) and 820.130 (Device Packaging). There are three takeaways: The accuracy of device labeling is mission-critical for device manufacturers; product packaging and labeling need to be properly validated, including distribution cycles, storage conditions, and useable shelf life; and famil…
Let Dr. D begin this edition of DG by stating that labeling and what constitutes being a label can be confusing for device manufacturers. Labeling collectively consists of multiple components, depending on the device manufacturer's packaging configuration. As a minimum, labeling comprises of the outer-most label on a packaged device, the Instructions for Use (IFU), information imbedded into the artwork on a carton or pouch, a pouch label, or even something as benign as a flash label, e.g. "New and Improved."
To complicate matters further, outside of the United States, the Medical Device Directive (MDD) dictates a requirement for labeling to be multi-lingual, e.g., in English plus 50 other languages (just kidding, but someday a possible reality). Regardless, FDA wants to ensure device labeling employed in the U.S. is clear, concise, legible, and accurate. For example, if a carton label for a catheter depicts a working length of 105 cm, and the actual length of the device is 90 cm, the device manufacturer now has a problem. Can you say, "Misbranded product?" Can you say, "RECALL?" Yes, Dr. D has done it again, throwing around that ugly six-letter word. Seriously, the doctor cannot place enough emphasis on ensuring device labeling is accurate. The doctor has suffered through far too many field actions (code name for RECALLS) due to product labeling issues.
Warning letter violations
Dr. D broken-record time again, as this warning-letter extraction reflects another device manufacturer's failure to establish and maintain procedures. Week after week, violations of the QSR, as evidenced by the warning letters issued by FDA, reflect a growing trend within the device industry. And that trend continues to be rooted in the lack of procedures required to support compliance with the QSR. It is my personal belief, regardless of regulatory path 510(k), IDE, or PMA, device manufacturers need to have their quality systems reviewed, certified, and approved, by a recognized regulatory body, to circumvent their inerrable (look-it up) policies preventing compliance to the QSR. Now granted, it is my belief FDA just does not have the resources to accomplish this task of policing, as the number of device manufacturers grows substantially; however, the onus should be placed onto the backs of the device manufacturers to select and pay for a notified body, capable of certifying a quality system. Dr. D is appalled that device manufacturers continue to rack up Form 483 observations and warning letters, while being allowed to distribute devices within the United States. This negative compliance trend needs to be reversed and this will happen only when device manufacturers begin pursuing a veridical (look-it up) approach to compliance.
Warning letter (February 2010): Observation 3 of 6 – Failure to establish and maintain procedures to control labeling activities, as required by 21 C.F.R. § 820.120. FDA 483 Item 3. Specifically: Your firm has not established written procedures for identifying labeling information, printing and applying labels on the carbon and D1 resin tanks, inspecting the labeling for accuracy, and documenting the labeling inspection results in the device history record. For instance, your firm applies a gray-color label on the mixed-bed resin tanks to prevent mixups with the other resin tanks intended for industrial applications, and a (b)(4) day installation sticker to control bacterial growth in the resin tanks. Your firm has not documented these requirements, and labeling inspections in the batch records (regeneration logs and exchange orders). Another instance, the installation date on the two resin tanks (Tank S/N (b)(4) and (b)(4)) at a hospital occurred a day before the tanks were actually filled at your firm as documented in their batch record.
Quality System Regulation – 21 CFR, Part 820
QSR – Subpart K – Labeling and Packaging Control
Section 820.120 Device Labeling:
Each manufacturer shall establish and maintain procedures to control labeling activities.
(a) Label integrity. Labels shall be printed and applied so as to remain legible and affixed during the customary conditions of processing, storage, handling, distribution, and where appropriate use.
(b) Labeling inspection. Labeling shall not be released for storage or use until a designated individual(s) has examined the labeling for accuracy including, where applicable, the correct expiration date, control number, storage instructions, handling instructions, and any additional processing instructions. The release, including the date and signature of the individual(s) performing the examination, shall be documented in the DHR.
(c) Labeling storage. Each manufacturer shall store labeling in a manner that provides proper identification and is designed to prevent mixups.
(d) Labeling operations. Each manufacturer shall control labeling and packaging operations to prevent labeling mixups. The label and labeling used for each production unit, lot, or batch shall be documented in the DHR.
(e) Control number. Where a control number is required by 820.65, that control number shall be on or shall accompany the device through distribution.
Section 820.130 – Device Packaging: Each manufacturer shall ensure that device packaging and shipping containers are designed and constructed to protect the device from alteration or damage during the customary conditions of processing, storage, handling, and distribution.
Device labeling
Dr. D broken-record time again: written procedures are a fundamental requirement for compliance with the QSR, as stated by DG Rule # 6 – All procedures, work instructions, drawings, specifications, etc., must be written, well-documented, and controlled within a defined document control system. The QSR, for device labeling, clearly states, "Each manufacturer shall establish and maintain procedures to control labeling activities."
Frankly, I am not sure how FDA could make this statement any clearer or easier to understand. Shall, in FDA speak, means the requirement is not optional, as reflected in the Nike™ commercials, "Just Do It." Establish, in FDA speak, equates to actually developing a well-documented approach to compliance, a.k.a. written procedures. Maintain, in FDA speak, delineates the need for device manufacturers to constantly monitor the effectiveness of their written procedures, review the quality outputs associated with their written procedure, and revise (as appropriate) to ensure written procedures continue to be effective. Remember folks, this not rocket science.
Label integrity
What is the value of a label if it does not remained affixed to a product carton or pouch during normal distribution conditions? To ensure labels do not fall-off or peel- back, due to adhesion issues, device manufacturers are expected to qualify their label stock and validate its use, including adhesion. In fact, device manufacturers should be validating their entire labeling and packaging schemes employing EN ISO 11607-1:2009, EN ISO 11607-2:2006, and ISTA-2A principles. Ensuring the label remains affixed is only part of the problem. The printed information on the label must be accurate, and the label needs to remain legible throughout the entire distribution cycle; including storage, handling, and where used. That is why tests, such as the Sullivan Rub Test are important.
Labeling inspection
Ensuring the correct information makes its way onto the product labeling is mission critical. The information on the label should reflect key characteristics, as depicted within the product specification (e.g. working length), user information, regulatory information (e.g. California Proposition 65), recognized symbols, shelf life, batch number, storage and handling instructions, warning statements (e.g. contains Latex or DEHP), single-use, manufacturing address, country of origin, and any additional information deemed appropriate by the device manufacture and/or mandated by law.
Although the QSR is U.S.-centric, unless you plan on developing special labeling for markets outside of the U.S., e.g. the European Union (EU), Dr. D strongly recommends that EN 980:2008, CE Marks, Language Requirements, the use of SI Units, etc., be considered when creating product labeling. Additionally, the doctor recommends a robust approach to the label content review and approval process to ensure label content is accurate. For new product approvals, FDA will want to review the labeling as part of the initial submission, as will the notified bodies in the EU. Once the label information is deemed accurate, a label specification can be approved and a copy placed in the labeling and boxing area located on the manufacturing floor. Why? Read the next paragraph.
The approved label specification can be employed by the quality organization or designee for label inspection. The QSR clearly states, "Labeling shall not be released for storage or use until a designated individual(s) has examined the labeling for accuracy." As part of determining label accuracy, the information depicted on the label, the legibility of information depicted on the label, and the quantity of labels received, printed, and retained need to be verified. Evidence of this verification step shall be retained in the Device History Record (DHR), including (a) the signatures of the individuals performing the inspection, and (b) the date the inspection was performed. A copy of the printed label should also be retained in the DHR. Dr. D recommends creating a label inspection sheet so a copy of the label can be affixed to the backside of the sheet for retention purposes.
Labeling storage
Labeling storage begins with batch numbers assigned to the label stock, pre-printed labels, flash labels (Dr. D hates flash labels because it is difficult to control their use), etc. Employing effective line clearance in the labeling area will result in the prevention of potential label mix-ups. Dr. D. has witnessed the perils associated with an operator loading the wrong label stock onto a Zebra Xiii Printer (no, Dr. D is not a paid spokesperson for Zebra), the labels subsequently printed and affixed to the cartons of finished medical devices, and the devices placed into distribution. Can you say RECALL? Yes, there goes Dr. D invoking that nasty six-letter word again – stop.
As stated in the previous paragraph, it is important to keep track of the number of labels printed. In a perfect world, an automated approach to printing and affixing labels is preferred; however, because of the varying sizes of labels, pouches, cartons, and the expense associated with automation, many manufacturers still apply the labels manually.
Labeling operations
It is the strong opinion of Dr. D, "There is no better way to control mix-ups on the production floor then to employ an effective approach to line clearance." The foundation for effective line clearance is the batch control of materials, i.e., labels, pouches, IFUs, and cartons. Obviously, all of the batch information associated with labeling and packaging shall be retained in the DHR, as should a copy of the label, as previously stated.
Another key influencer affecting line clearance, as with all manufacturing and inspection operations is employee training. Remember, pouching, boxing, and labeling are the final manufacturing steps prior to finished devices shipping to sterilization and distribution. The quality and manufacturing staff working in the labeling and boxing area must possess a keen eye for detail and be thoroughly trained in the execution of their duties.
Control numbers
As part of the control number requirement, the QSR invokes 820.65. A quick refresher for the folks that may have missed earlier editions of DG, Section 820.65 of the QSR, is the requirement for traceability. When the use of a control number is required by regulation, e.g., surgical implant, the assigned control number must remain with the finished device or devices throughout their entire life cycle. The entire life cycle concludes with the use of the device(s), or the scrapping of the device(s) – in short, the device is no longer in service and available for use. It does not end with the sale. Remember, traceability should be a salient requirement as device manufacturers will rely heavily on traceability, should a RECALL ever become necessary (I know, stop with the "R-Word" already!).
Device packaging
Dr. D has already expounded on the virtues of validating packaging schemes to ensure finished medical devices are adequately protected during the trials and tribulations associated with, as the QSR states, "customary conditions of processing, storage, handling, and distribution. Device manufacturers can have pretty boxes, eye-catching color schemes, and flash labels fit for use on laundry-soap cartons; however, none of these is worth a hill of beans if the packaging does not prevent damage to the device, or the sterile barrier.
That said, device manufacturers must validate packaging and the effectiveness of the packaging for protecting the finished medical device. The expectation of FDA and regulatory bodies around the world is that the packaging validation include packaged product that has been:
Processed through the appropriate sterilization cycle (if applicable);
Exposed to a reasonable distribution challenge (ISTA-2A); and
Supported by aging studies to support shelf-life (accelerated to support initial product approval followed by real-time).
Packaging is an extremely important deliverable as part of the overall product design cycle. Remember, regardless of how good a device design might be; it is worthless if the device cannot be delivered to healthcare professionals ready for use. Device safety and device efficacy trumps speed to market any day of the week.
Three takeaways
There are three takeaways from this edition of DG. One, the accuracy of device labeling is a mission-critical step for device manufacturers. If the information depicted on a device label is incorrect, device manufactures can expect to withdraw product from market (note – Dr. D did not use the word RECALL). Two, ensure product packaging and labeling are properly validated, including distribution cycles, storage conditions, and useable shelf life. Three, if product is going to be distributed outside of the U.S., become familiar with the MDD and EN 980. Designing labeling schemes for deployment in multiple markets can result in significant cost saving.
In closing, thank you again for joining Dr. D and I hope you find value in the guidance provided. Until the next installment of DG, when I evaluate Subpart – L (Handling, Storage, Distribution, and Installation), specifically (820.140 – Handling and 820.150 – Storage) – cheers from Dr. D. and best wishes for continued professional success.
Code of Federal Regulation. (2009, April). Title 21 Part 820: Quality system regulation. Washington, D.C.: U. S. Government Printing Office.
Devine. C. (2009, July). Exploring the effectiveness of defensive-receiving inspection for medical device manufacturers: a mixed method study. Published doctoral dissertation. Northcentral University. Prescott Valley, AZ.
EN 980:2008. (2010, May). Symbols for use in the labeling of medical devices. European Standard – Prepared by: Technical Committee CEN/CLC/TC 3.
EN ISO 11607-1:2009. (2010, March). Packaging for terminally sterilized medical devices – Part 1: Requirements for materials, sterile barrier systems and packaging systems. International Organization for Standardization.
EN ISO 11607-2:2006. (2006, July). Packaging for terminally sterilized medical devices – Part 2: Validation requirements for forming, sealing, and assembly processes. International Organization for Standardization.
FDA – U.S. Food and Drug Administration Website. (2010). Warning letters. Retrieved August 30, 2010, from http://www.fda.gov/ICECI/EnforcementActions/WarningLetters/
ISTA-Procedure 2A:2008. (2008). Packaged-products weighing 150 lb (68 kg) or less. International Safe Transit Association.
The concept of detention, employed by FDA, is not unlike the pain associated with the after school detention of this doctor's wayward youth.
Device Master Record
You must have a Device Master Record, so just go ahead and create one; once the DMR has been assembled, do not forget to update it.
When your friends from the agency stop by for that friendly cup of coffee and an inspection, they will ask to see DMRs and, eventually, review DHRs to verify finished medical devices are being properly manufactured.
European Device Regulations: Unannounced Audits
Critical subcontractors and crucial suppliers will be subject to unannounced audits by notified bodies under the revised European device regulations. Richard DeRisio of TÜV Süd provides more details in this presentation.
Chris Devine Devine Guidance Labeling medical device Packaging Control
Dr. Christopher Joseph Devine
Devine Guidance International
Dr. Christopher Joseph Devine is the President of Devine Guidance International, a consulting firm specializing in providing solutions for regulatory compliance, quality, supplier management, and supply-chain issues facing the device industry. Dr. Devine has 32 years of experience in quality assurance, regulatory compliance and program management. He is a senior member of the American Society for Quality (ASQ), a member of the Regulatory Affairs Professionals Society (RAPS), and a member of the Project Management Institute, and resides on several technical advisory boards. Dr. Devine received his doctorate from Northcentral University, with his doctoral dissertation titled, "Exploring the Effectiveness of Defensive-Receiving Inspection for Medical Device Manufacturers: A Mixed-Method Study." Dr. Devine holds a graduate degree in organizational management (MAOM) and an undergraduate degree in business management (BSBM).
February 4, 2020 – February 6, 2020
EU MDR Implementation Strategies (Virtual Event)
The new EU Medical Devices Regulation will profoundly affect the medical device market in Europe. Implementation deadlines are rapidly approaching. Companies that haven't already made significant progress in planning & preparation may be at risk of losing EU product registrations. This three half-day virtual event features presentations & panel discussions by speakers from notified bodies and top medical device companies.
EU MDR Risk Management (Virtual Conference)
This two half-day virtual event features presentations and panel discussions by speakers from notified bodies and top medical device companies. Topics include ISO 14971:2019; design & usability; and post-market surveillance requirements, methods and best practices.
March 3, 2020 – 12:00 pm – 2:00 pm
Technical Writing Virtual Workshop (3/3 & 3/10)
This 4-hour training program is divided into TWO SESSIONS taking place on March 3 and March 10, 2020. Believe it or not, even the best college educated folks really don't know what is expected in the medical device, pharma, pharmacy, and biologics corporate world, especially when it comes to writing up non-conformances and CAPAs. Attendees will gain knowledge as to proper technical writing etiquette, established proper technical writing techniques, and what is expected by technical readers.
April 8, 2020 – 12:00 pm – April 22, 2020 – 2:00 pm
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Comments: Sewn binding, 250 x 220 mm. First edition, 2011. Limited edition of 200 numbered copies. In very good condition. Out of print now.
Ruth van Beek has been collecting photographs from all over the place for years. Newspaper clippings, amateur family pictures, images from old books and the internet. She puts them together in an ever-growing archive. The archive is chaotic and fluent. Subjects range from family life, landscape, archeological findings, natural disasters, spectacular findings, flower arrangement and handcraft instructions. The Hibernators are an animal species made from pictures of small common pets. Cats, guinea pigs, rabbits and dogs. The kind you find in many homes and that are beloved and pampered by their owners. Animals in the photos are brought back to life by cutting and folding the paper. Instead of being released, they are restrained once more in a new shape. This way they become creatures that are silent like stones, but that also show a tension. The moment before awaking. They want to move, they have tasted freedom!


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Written by Chillie Palmer	Monday, 28 January 2013
Sparked by a rumor heard on the elementary school playgrounds, eight-year-old snowball-rights activist Pepper Neighbors has spent most of her free time between ballet classes and freeze tag amassing a huge arsenal of snowballs in her "Snowmageddon Bunker." Pepper Neighbors, a second-grade student in Colorado and third-cousin-removed to Charlton Heston, had one thing to say to President Obama should he try and take away her snowballs: "You'll have to pry my snowballs from my cold, numb hands."
"I heard from Tommy that Obama did some president stuff and was now coming to take away my snowballs," noted Neighbors. "And Tommy is in fourth grade, so he knows about these things. But I love my snowballs, and I'll never let Obama take away my secondary manendment right to have a huge pile of them and throw them at stuff."
After witnessing Ms. Neighbors compiling hundreds of snowballs in her five-foot-tall snow fort, a neighbor and snowball-control proponent Marty Pooper reported the activity to her parents.
"Why does anyone need to have that many snowballs?" asked Pooper, after returning from a neighborhood party that he apparently wasn't invited to. "Isn't, say, 10 snowballs enough to keep the stray dogs away or have a snowball fight with your friends? I really think her parents are...
Read more: 'I Dare Obama to Try and Take Away My Snowballs!'
"We've listened to the gun manufacturers, and based on their input, we believe this is the best solution to the terrible problem of not enough armed civilians using guns to take care of disturbances on their own," said Wayne LeWhatever, NRA executive vice president. "We realized that paying for several armed guards in every building across America would be overly expensive, so the portable EAR solved all of those cost issues. Schools and offices only need to pay for several of the breakable-glass-cased EARs upfront, and there no longer are any costs involved after that--except for possibly an annual training class so all of the employees and students can learn how to operate an assault...
Read more: NRA Proposes Breakable-Glass-Encased "Emergency Assault Rifles" in Every Hallway
Written by Winnie Willitend	Monday, 07 January 2013
In a deadline deal to avoid universal tax increases and deep budget cuts, the U.S. Congress passed legislation to avoid the so-called "fiscal cliff." However, several contested issues were merely postponed, and a February deadline looms over the U.S. debt ceiling and massive budget cuts that should be more venomously contested than this last debacle. Although Congressional leaders barely avoided going over the fiscal cliff, a new and more contested battle is expected over how to deal with the upcoming fiscal f*ck you.
"I know we just passed this fiscal cliff legislation," said Senate Majority Leader Harry Reid. "But the next battle, in just two months, is going to be even nastier, so we need a really dramatic name for it. I'm calling it the 'fiscal f*ck you.'"
Reid explained that he locked in on the new name shortly after U.S. House of Representatives Speaker John Boehner recently and publicly instructed Reid to "go f*ck yourself" ... twice to avoid any misinterpretation.
Reid further explained that before Boehner's comments, he considered naming the upcoming battle the "fiscal Armageddon" or "fiscal apocalypse" in honor of the Mayan misunderstanding on December 21, but now he's certain that "fiscal f*ck you" is the right term for what lies ahead.
"The fiscal cliff was just Tiddly Winks compared to the upcoming fight on the debt...
Read more: Congress Avoids Fiscal Cliff, Awaits Upcoming Battle over Fiscal F*ck You
Romney Trashes Obamacare, Presents Plan to Provide Health Care Coverage for Frackers
Pirate Theatre Stepping Up Its Game: Latest Show Heading to Outdoor Stage and then ... Boulder?
Lodgepole Pines Crossbred with Kandy Kush Found Resistant to Pine Beetles