BoE Cuts Rates – US Treasury Yields Falling – Moderna Shares Collapse 29% – 30.9 Million Excess Deaths – Global Governance and Globalism – Shanghai Cooperation Organisation; Astana Meeting - [08- 06 -

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BOOM EDITORIAL THIS WEEK

INTEREST RATES — BANK OF ENGLAND CUTS RATES - The UK central bank, the Bank of England, cut its key interest rate by 0.25% last Thursday as expected by BOOM. It follows cuts from the ECB (European Central Bank) in June and cuts last week from the Bank of Canada and the Peoples Bank of China. The Swiss National Bank cut rates by 0.25% in March and in June. and is expected to do so again in September. The US Federal Reserve is expected to cut its key rate at the next meeting of the FOMC in September.

The Bank of Japan (BOJ) went against the trend last week and increased its key rate by 0.25% in a bid to defend its national currency, the yen. This is only the second interest rate rise by the BOJ in 17 years.  Japan’s central bank has kept interest rates near or below zero for nearly a decade, seeking to spur inflation in a deflationary economy. Japan is clearly a special situation.

The Bank of Russia also went against the trend by raising its key rate by 200 basis points to 18% in a bid to kill rising CPI inflation. Russia’s annual inflation rate increased to 9.0% in July from 8.6% in June. Their annual GDP growth rate is above 5% and could be rapidly expanding due to the war in Ukraine.

US TREASURY YIELDS FALLING SHARPLY.  On November 19, 2023 BOOM wrote: “The market is screaming at us that US Yield Curve correction is coming which means that short term interest rates must fall to fulfil those expectations.”  And in the July 21, 2024 editorial, BOOM wrote:  “Treasury Yields below 12 months are beginning to show a consistent pattern of flat to falling yields. The yields began to flatten around October 2022 …. Now, they appear to have begun the journey South. BOOM expects this trend to gain strength over the next six months.”

Last week, the yield on 6-month US Treasuries dropped significantly by 5.62%. The yield on 12-month US Treasuries dropped significantly by 9.07%.  Such strong falls are important to note on the Weekly Charts.

The current US Yield Curve is now well below where it was 12 months ago. And the short end of the curve has dropped significantly more than the long end. In this chart, the light blue line is the curve 12 months ago. The dark line below it is the current one. This illustrates the improvement in the curve over the last year.

MODERNA SHARES COLLAPSE BY 29% IN ONE WEEK — NO FUTURE FOR MRNA TECHNOLOGY — COVID “VACCINES” IN DEEP TROUBLE.  BOOM has previously written extensively on the pitfalls of the Covid MRNA injections/genetic treatments (wrongly called “vaccines”) and their lack of efficacy, safety and long term commercial viability.

Last week, Moderna shares fell sharply by 29% as many investors decided to make quick exits. Moderna is one of the major promoters of MRNA technology and the developer of a major Covid 19 “vaccine”.

Moderna’s peak price was just below $500 on August 10, 2021. Since then, the shares have been in consistent downtrend and traded below $90 last week. BOOM cannot see any bright future for MRNA technology. In fact, quite the opposite. BOOM thinks that it will eventually be seen as the greatest disaster in pharmaceutical history and possibly the greatest crime ever committed.

The worst case scenario could eventually see up to a billion people either dead or injured from this poorly conceived, ill advised and unwisely promoted adventure into gene therapy. That scenario may take up to a decade to reveal its true nature. Utopian dreams have no place in science or medicine.

A new report was released on July 19, entitled “Spatiotemporal variation of excess all-cause mortality in the world (125 countries) during the Covid period 2020-2023 regarding socio economic factors and public-health and medical interventions” authored by Denis G. Rancourt, Joseph Hickey, and Christian Linard.

It estimates 30.9 million excess deaths globally in the Covid years The dates inclusive are  March 11, 2020 (declaration of a pandemic) and May 5, 2023 (end of declaration). Excess death refers to above historical expectations. The culprit was not the ‘virus’.

The report consists of 521 pages including hundreds of statistics. It contains a detailed examination of excess all-cause mortality during the Covid period in 125 countries comprising approximately 35% of the world’s population.

The spatiotemporal variations in national excess all-cause mortality rates allow us to conclude that the Covid-period (2020-2023) excess all-cause mortality in the world is incompatible with a pandemic viral respiratory disease as a primary cause of death. This hypothesis, although believed to be supported by testing campaigns, should be abandoned.  The Authors wrote …

“We describe plausible mechanisms and argue that the three primary causes of death associated with the excess all-cause mortality during (and after) the Covid period are:

• Biological (including psychological) stress from mandates such as lockdowns and associated socio-economic structural changes

• Non-COVID-19-vaccine medical interventions such as mechanical ventilators and drugs (including denial of treatment with antibiotics)

• COVID-19 vaccine injection rollouts, including repeated rollouts on the same populations”

Conclusion: 30.9 million Excess Dead thus far (to May 2023).  “We are compelled to state that the public health establishment and its agents fundamentally caused all the excess mortality in the Covid period, via assaults on populations, harmful medical interventions and COVID-19 vaccine rollouts.

We conclude that nothing special would have occurred in terms of mortality had a pandemic not been declared and had the declaration not been acted upon.”  Rancourt, Hickey and Linard: Quote:

“Our calculated excess mortality rate (0.392 ± 0.002 %) corresponds to 30.9 ± 0.2 million excess deaths projected to have occurred globally for the 3-year period 2020-2022, from all causes of excess mortality during this period, which is almost twice as many deaths as the 17 million deaths that have previously been projected globally to be associated with the COVID-19 vaccine rollouts (Rancourt et al., 2023a).”  The Full Report can be read HERE.

The truth about giving Covid “vaccines” to populations is now impossible to hide. They are not safe and they are not effective at stopping infection or transmission. Rancourt’s Report deals only with excess death numbers. Premature death is sad and concentrates the mind.

However, there will be many, many more millions suffering damaged health outcomes from this fiasco all over the globe. Reports are flooding in from all nations. Hospitals are now full, ambulance services are fully stretched, health care staff are leaving. A health care crisis is in full swing as demand rises while supply falls.

And this begs the biggest question of all: could billions be affected? Current estimates state that 5.63 billion people worldwide received at least one dose of the Covid “vaccine”.

It’s time to take a look at the three principal companies that are involved in Covid “vaccines”: Moderna, Pfizer, and Novavax.

GLOBAL GOVERNANCE and GLOBALISM — REPORT ON ASTANA MEETING OF SHANGHAI COOPERATION ORGANISATION.  The Shanghai Cooperation Organization (SCO) is a permanent intergovernmental international organisation established on June 15, 2001 in Shanghai. It represents well over three billion people (almost 40% of the total population on Earth).

Many commentators regard it as an alternative to the United Nations. This is not the case and that will become evident by reading on:

Global Government entails interaction between governments and government controlled institutions and is certainly alive and well in the Shanghai Cooperation Organisation. The SCO also clearly displays their intentions and connections to the United Nations.

Globalism and Globalist ambitions are a different matter. Globalism is a move towards a cooperative approach in partnerships between representative governments and major unelected Global Corporations and unelected NGOs (Non Government Organisations). This movement is most commonly associated with the ambitions of the secretive, privately owned, unelected “World Economic Forum” in Switzerland (WEF) where the word “Stakeholders” is frequently used to justify its promotion of blatant Fascism – the merger of States with Corporations to exert increased access and control over the resources and labour of The People on our planet.

The United Nations has its foot in both camps along with its (many) agencies, the World Health Organisation (WHO), Food and Agriculture Organization (FAO), International Civil Aviation Organization (ICAO), International Fund for Agricultural Development (IFAD), International Labour Organization (ILO), International Maritime Organization (IMO), International Monetary Fund (IMF), International Telecommunication Union (ITU), United Nations Educational, Scientific and Cultural Organization (UNESCO), United Nations Industrial Development Organization (UNIDO), Universal Postal Union (UPU), World Bank Group (WBG), International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), World Intellectual Property Organization (WIPO), World Meteorological Organization (WMO), United Nations World Tourism Organization (UNWTO),

The only UN specialised agency to go out of existence is the International Refugee Organization (IRO), which existed from 1946-52. In 1952, it was replaced by the Office of the United Nations High Commissioner for Refugees (UNHCR), which is a subsidiary organ of the United Nations General Assembly (UNGA).

The distinction is important. Global Governance and Globalism are two very different things. Now, let’s consider the Shanghai Cooperation Organisation.

REPORT ON ASTANA MEETING OF SHANGHAI COOPERATION ORGANISATION (SCO). The Shanghai Cooperation Organisation maintains regular information contacts with the UN Secretariat and the UN institutions represented in Beijing. Traditionally, high-ranking representatives of the UN attend annual SCO summits upon the invitation of the country holding SCO’s current presidency.

United Nations Resolution А/RES/64/183 (agenda item 124); “Cooperation between the United Nations and the Shanghai Cooperation Organisation.”  The resolution stresses the importance of improving the dialogue, cooperation and coordination between the UN system and the SCO.

Goals of the SCO:

• to strengthen mutual trust, friendship and good-neighborliness between the Member States

• to encourage the effective cooperation between the Member States in such spheres as politics, trade, economy, science and technology, culture, education, energy, transport, tourism, environmental protection, etc

• to jointly ensure and maintain peace, security and stability in the region; and

• to promote a new democratic, fair and rational international political and economic international order

Internally, the SCO adheres to the “Shanghai Spirit”, namely, mutual trust, mutual benefit, equality, consultation, respect for diversity of civilisations and pursuit of common development; and externally, it upholds non-alignment, non-targeting at other countries or regions and the principle of openness.

The supreme decision-making body of the SCO is the Council of Heads of States (CHS). It meets once a year and decide upon all the important issues of the Organisation. The official languages of the SCO are Russian and Chinese – The Member Nations List currently, the SCO countries and include:

• 10 Member States: the Republic of India, the Islamic Republic of Iran, the Republic of Kazakhstan, the People’s Republic of China, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Russian Federation, the Republic of Tajikistan, the Republic of Uzbekistan; the Republic of Belarus.

• 2 Observer states  – the Islamic Republic of Afghanistan and Mongolia.

• 14  Dialogue Partners – the Republic of Azerbaijan, the Republic of Armenia, the Kingdom of Bahrain, the Arab Republic of Egypt, the Kingdom of Cambodia, the State of Qatar, the State of Kuwait, the Republic of Maldives, the Republic of the Union of Myanmar, the Federal Democratic Republic of Nepal, the United Arab Emirates, the Kingdom of Saudi Arabia, the Republic of Turkey, the Democratic Socialist Republic of Sri Lanka.

The Organisation maintains regular information contacts with the UN Secretariat and the UN institutions represented in Beijing. Traditionally, high-ranking representatives of the UN attend annual SCO summits upon the invitation of the country holding SCO’s current presidency.

UN Resolution А/RES/64/183 (agenda item 124) “Cooperation between the United Nations and the Shanghai Cooperation Organisation” outlines the relationship:  The resolution stresses the importance of improving the dialogue, cooperation and coordination between the UN system and the SCO. Other relationships include:

• A Memorandum of Understanding between the SCO Secretariat and the CIS Executive Committee was signed on April 12, 2005. The CIS is the Commonwealth of Independent States, a post-Soviet arrangement.

• A Memorandum of Understanding between the secretariats of the SCO and ASEAN was signed in Jakarta on April 21, 2005. ASEAN is the Association of Southeast Asian Nations.

• A Memorandum of Understanding between the secretariats of the SCO and the CSTO was signed in Dushanbe on October 5, 2007. The Collective Security Treaty Organization (CSTO) is an intergovernmental military alliance in Eurasia consisting of six post-Soviet states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan

• A Memorandum of Understanding between the Secretariat of the Shanghai Cooperation Organisation and the Secretariat of the Conference on Interaction and Confidence-Building Measures in Asia was signed in Shanghai on May 20, 2014. The Conference on Interaction and Confidence-Building Measures in Asia ( CICA) is an inter-governmental forum for enhancing cooperation towards promoting peace, security and stability in Asia.

• On June 9, 2017, the Shanghai Cooperation Organisation (SCO) Secretariat and the International Committee of the Red Cross (ICRC) signed a memorandum of understanding on the sidelines of the SCO Heads of State Council Meeting in Astana.

• On July 4, 2024, President of the Republic of Kazakhstan Kassym-Jomart Tokayev chaired the 24th meeting of the SCO Heads of State Council (HSC) in Astana.

Attending the meeting were President of the Republic of Belarus Alexander Lukashenko, Foreign Minister of India Subrahmanyam Jaishankar, Acting President of the Islamic Republic of Iran Mohammad Mokhber, President of the People’s Republic of China Xi Jinping, President of the Kyrgyz Republic Sadyr Zhaparov, Prime Minister of the Islamic Republic of Pakistan Shehbaz Sharif, President of the Russian Federation Vladimir Putin, President of the Republic of Tajikistan Emomali Rahmon and President of the Republic of Uzbekistan Shavkat Mirziyoyev.

SCO Secretary-General Zhang Ming and Director of the Executive Committee of the SCO Regional Anti-Terrorist Structure Ruslan Mirzayev also took part in the meeting. The discussion at the Astana summit focused on the prospects for expanding multilateral cooperation across the entire scope of the organisation’s activities, which spans politics, security, trade, investment, energy, environmental protection, tourism, international cooperation and improvement of the SCO.

The participants approved 25 documents, including the Astana Declaration, the Initiative On World Unity for a Just Peace, Harmony and Development, the HSC Statement on the Principles of Good Neighbourliness, Trust and Partnership, as well as the decision to appoint the Chinese city of Qingdao the SCO’s tourism and cultural capital for 2024-2025.

Here is a précis of key elements of the Astana Declaration made in July. The Declaration is available at the Link below.

ASTANA DECLARATION OF THE COUNCIL OF HEADS OF STATE OF THE SHANGHAI COOPERATION ORGANISATION. Declaration in Full: https://eng.sectsco.org/20240709/1438929.html

A Commitment to Peace.  The Member States consider it necessary to enhance the role of the SCO in creating conditions for stronger universal peace, security and stability, and for building a new democratic and fair political and economic world order. With this aim in view, they will adopt the SCO initiative on World Unity for a Just Peace, Harmony and Development, which they invite the international community to join.

The Member States advocate respect for the right of peoples to an independent and democratic choice of the paths of their political and socio-economic development, emphasise that the principles of mutual respect for sovereignty, independence, territorial integrity of states, equality, mutual benefit, non-interference in internal affairs and non-use of force or threats to use force, are the basis of sustainable development of international relations. They reaffirm their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.

Calling for a comprehensive reform of the United Nations.  The Member States noted that the UN prestige and efficiency can be strengthened by increasing the representation of developing countries through a comprehensive reform of the UN.

Links to the United Nations.  The Member States reaffirm their commitment to creating a more representative, democratic, fair and multipolar world based on the universal principles of international law, cultural and civilisational diversity, as well as mutually beneficial and equal cooperation with the central coordinating role of the UN.

Concern for the Increased Build Up of Global Ballistic Missile Systems.  The Member States point out that unilateral and unrestrained build-up of global ballistic missile defence by individual countries or groups of countries is having a negative effect on international security and stability. They consider unacceptable the attempts to ensure one’s security at the expense of others.

Stand Against Terrorism.  The Member States are of the firm view that the international community must isolate and expose the countries that harbour terrorists, provide safe havens to them, and condone terrorism. They will counter cyber propaganda and disinformation campaigns waged by international terrorist organisations against the SCO Member States.

The Member States call on the international community to push for achieving consensus on the adoption of a Comprehensive Convention on Combating International Terrorism within the UN as an important contribution to the existing framework of universal international counter-terrorism instruments.

Stand Against Nazism (Yes, Nazism still exists, it did not disappear at the end of WW2. Some commentators say that WW2 actually never ended).  The Member States welcomed the Resolution on Combating Glorification of Nazism, neo-Nazism and Other Practices that Contribute to Fuelling Contemporary Forms of Racism, Racial Discrimination, Xenophobia and Related Intolerance, adopted every year by the UN General Assembly.

Call for Peace in Gaza. The Member States stress the importance of ensuring immediate, complete and stable ceasefire, as well as access to humanitarian aid, and intensifying efforts to restore peace, stability and security for all populations in the region.

Commitment to the UN Charter and Universal Declaration of Human Rights. Committed to the principles of the UN Charter, the Member States confirm that all human rights are universal, indivisible, interdependent and interconnected. They also confirm their commitments to observe human rights and freedoms, and stand against double standards with respect to human rights and interference in the domestic affairs of other States under the pretext of their protection.

UN Sustainable Development Goals. The Member States noted a proposal by the Republic of Kazakhstan to establish a UN Regional Centre for Sustainable Development Goals for Central Asia and Afghanistan.

Drugs and Crime.  The Member States will continue to coordinate their positions on drug-related issues at specialised UN agencies and at other international organisations and entities. In this context, they praised the holding of another special event, organised by the SCO and the UN Office on Drugs and Crime on 20 March 2024 in Vienna.

On Nuclear Weapons Non-Proliferation. The Member States, parties to the ‘Treaty on the Non-Proliferation of Nuclear Weapons’ of  July 1, 1968, are calling for unfailingly honouring the Treaty’s provisions. They are urging the concerned parties to comprehensively implement all its goals and principles.

Other Weapons.  The Member States insist on keeping outer space free from any types of weapons. The Member States also recognise the importance of the ‘Convention on the Prohibition of the Development, Production and Stockpiling of Bacteriological (Biological), and Toxin Weapons’ and on their Destruction (BTWC).

Cyber Threats.  The Member States emphasise the key role of the United Nations in countering threats in information space and creating a safe information environment.

Against Protectionism and Sanctions. The Member States also speak against any protectionist measures, unilateral sanctions, and trade restrictions that undermine the multilateral trading system and impede global sustainable development.  The Member States emphasised that the unilateral adoption of sanctions is incompatible with the principles of international law.

Support for the Belt and Road Initiative.  The Member States reaffirmed their support for China’s Belt and Road Initiative (BRI).

Energy Security.  The Member States are in favour of further promoting cooperation in ensuring energy security.  The Member States that have opted for the use of civil nuclear energy will develop cooperation on voluntary and mutually agreed terms.

Banking.  The Member States stressed the important role of the Interbank Association (IBA), the Council of the Interbank Association of the Shanghai Cooperation Organisation (SCO IBA).

The Shanghai Cooperation Organization Interbank Consortium (SCO IBC) was established on October 26, 2005 under the decision made by the Council of Heads of SCO Member States on creating a mechanism to financially support and service investment projects in the SCO member countries economic area (Agreement on interbank cooperation within the Shanghai Cooperation Organization).

The main tasks of SCO IBC are to organise funding for investment projects, enhance interaction with financial institutions of observer states and partners in the framework of SCO dialogue, cooperate with leading economic institutions operating in the SCO area (the SCO Business Council, the Eurasian Development Bank), exchange experience, and cooperate in personnel training.

The Link provided here explaining the SCO IBC is taken from the website of one of the Member Banks, ‘The State Development Bank of Russia VEB.RF “VEB.RF” is a State Development Corporation existing under Russian law as a legal entity in the legal form of “non-profit organisation”.

Chairman and members of VEB.RF’s Supervisory board are appointed by the Russian Government for the term of five years. VEB.RF is exempt from profit tax. It is funded by direct equity contributions from the Federal Budget – proven track record of Government Support.  Source  https://вэб.рф/en/international-multilateral-cooperation/the-interbank-consortium-of-the-shanghai-cooperation-organization/?ysclid=lz97lzo1ty336539088

One Planet, One Future – the SCO and the UN.  The Member States commended the special high-level event between the SCO and the UN One Planet, One Future: Joining Efforts for Environmental Sustainability, as well as the Memorandum of Understanding between the SCO Secretariat and the UN Environment Programme signed in Nairobi on February 28, 2024.

SCO Chairmanship.  The SCO Chairmanship has been passed to the People’s Republic of China for the forthcoming period.

BOOM’s COMMENT ON THE SHANGHAI COOPERATION ORGANISATION: It would appear that the SCO is (perhaps) just a “little brother” of the United Nations. That may well be the case now but BOOM wonders if it will always be so. After all, the SCO already represents over 40% of the Earth’s population and is steadily growing.

Perhaps it could amount to more than 50% of the total population before too long? The nations of Africa and the Middle East appear to be possible members in future. Then there is South America.  Check out the list of Dialogue Partners of the SCO.  It includes the Hydrocarbon Energy Oil/Gas powerhouses:

• Republic of Azerbaijan

• Kingdom of Bahrain

• State of Qatar

• State of Kuwait

• United Arab Emirates

• Kingdom of Saudi Arabia

• Turkey

• Egypt

Turkey has the largest armed forces in NATO.  According to the International Institute for Strategic Studies (IISS), in 2023 the Turkish Armed Forces had a total strength of around 890,500 personnel.

COMING NEXT:

• Letter from South Africa – AFRICAN RESOURCE GRAB – Saturday, August 10, 2024

• BOOM Global Financial Review, Tuesday August 13, 2024

In economics, things work until they don’t.  Make your conclusions and do research.  BOOM does not offer investment advice.

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BANKS DON’T TAKE DEPOSITS, THEY BORROW YOUR MONEY: LOANS CREATE DEPOSITS — this is how almost all new money is created in the economy (by commercial banks making loans). https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy.  Watch the short 15-minute video and see Professor Richard Werner brilliantly explaining how global banking systems work.

In 2014, Richard Werner provided the first empirical evidence that banks create credit out of thin air.  They do this whenever they issue a loan or, more specifically, purchase a promissory note. This is a walk-through of exactly how they do it.

Many economists are unaware of this and even ignore the banking & finance sectors in their econometric models.

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