The Great Reset

[Palinurus]

War on cash continues.

Dutch gov't to push through with ban on cash purchases over €3,000 to not lose EU grant

Dutch govt to push through with ban on cash purchases over €3,000 to not lose EU grant

The outgoing Dutch government wants to push through with a plan to ban cash purchases above 3,000 euros. The ban is part of an anti-money laundering bill that was declared controversial, meaning the outgoing government can’t touch it. But failing to implement the ban would mean the Netherlands loses out on 600 million euros of European money, Ministers Steven van Weyenberg of Finance and Dilan Yeşilgöz of Justice and Security wrote to parliament on Tuesday.

A legal limit on cash payments is one of the requirements of the Dutch Recovery and Resilience Plan (HVP), which the Netherlands must implement to be entitled to money from the EU coronavirus fund. The deadline to implement this measure is 31 March 2025. If the Netherlands misses that deadline, it will lose out on 600 million euros.

The Ministers suggested only implementing the cash purchase limit from the anti-money laundering action plan bill, which parliament previously declared controversial, through an amendment to the original bill. That way, the Netherlands won’t miss the deadline for the 600 million euros in EU money.

The other measures in the bill can be implemented later by the next Cabinet, possibly in conjunction with the upcoming European Anti-Money Laundering and Countering the Financing of Terrorism package, which is expected to take effect in 2027.
The Ministers want to combat money laundering with this limit on cash purchases. According to them, criminals often use large sums of cash to get their criminally obtained money into circulation without a paper trial alerting the authorities.

Similar: Ministers push on with plan to ban cash payments of over €3,000 - DutchNews.nl

 

[Saki]

A song for the times…and some afterthoughts
Eve of Destruction
P.F.Sloan and Barry McGuire 1965
Eve of Destruction

The Eastern world, it is explodin’
Violence flarin’, bullets loadin’
You’re old enough to kill but not for votin’
You don’t believe in war, but what’s that gun you’re totin?
And even the Jordan river has bodies floatin’
Refrain
But you tell me
Over and over and over again my friend
How you don’t believe
We’re on the eve of destruction
Don’t you understand what I’m trying to say
Can’t you feel the fears I’m feeling today?
If the button is pushed, there’s no runnin’ away
There’ll be no one to save with the world in a grave
Take a look around you boy, it’s bound to scare you, boy
Refrain
Yeah, my blood’s so mad, feels like coagulatin’
I’m sittin’ here just contemplatin’
I can’t twist the truth, it knows no regulation
Handful of senators don’t pass legislation
And marches alone can’t bring integration
When human respect is disintegratin,
This whole crazy world is just too frustratin
Refrain
And think of all the hate there is in Red China
Then take a look around to Selma, Alabama
Ah, you may leave here for four days in space
But when you return, it’s the same old place
The poundin’ of the drums, the pride and disgrace
You can bury your dead, but don’t leave a trace
Hate your next door neighbor but don’t forget to say grace
Refrain

The After Thoughts
My comment: having seen all of the above, and believing it is an accurate description of the current situation, I also consider the following:

Matthew 6:26-34 New King James Version
Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? Which of you by worrying can add one cubit to his stature? So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; and yet I say to you that even Solomon in all his glory was not arrayed like one of these. Now if God so clothes the grass of the field, which today is and tomorrow is thrown into the oven, will he not much more clothe you, O you of little faith? Therefore do not worry, saying, “What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. But seek first the kingdom of God and his righteousness, and all these things shall be added to you. Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble.

Some word variation or substitutions may be appropriate. E.g., God, heavenly Father = Divine Cosmic Mind; Gentiles = STS; seek first the kingdom of God and his righteousness = lessons, STO, spirituality.

And also this:

John 16:33
I have said these things to you that in me you may have peace. In the world you will have tribulation. But take heart; I have overcome the world.



In short, it looks like this physical world is somewhat of a mess and going downhill at an increasing rate. But I can’t focus on that. There is good and there is hope. I don’t believe I am in lala land; there are unanticipated outcomes, unintended consequences and the proverbial tipping point. DCM keep you all.

 

[Honzap]

Updates on Highly Pathogenic Avian Influenza (HPAI)

According to FDA there we are looking at possibility of 20% of milk being contaminated with bird flu pathogens. The article says that properly treated (pasteurized) milk is safe for consumption.

It could be something, or it could be another fear mongering.

What comes to mind is that milk hasn`t been tested for this particular pathogen in the past, so the contamination could have been there all along without nobody noticing. On the other hand with everything else slowly going down the bucket, this may be yet another way of cutting food supply from population.

 

[Bastian]

Hello.
I thought that this article from the VC website may be interesting :

The Top 6 Most Deranged Moments of the WEF’s 2024 Davos Meeting

If you're wondering why the devil's head is on the lead image of this article, its because it was literally part of the decor at Davos 2024. I wish I was joking. In fact, I wish I was joking about everything in this article. Here are the top 6 most deranged moments of Davos 2024.

vigilantcitizen.com

 

[iamthatis]

Larry Fink help us all understand that depopulated countries are actually going to benefit from the 4th Industrial Revolution. Less people = fewer social problems when humans are replaced by machines. What a nice man.

"If you forecast out the transformation we're going to see across all societies because of AI, robotics, sensor technology - the speed in which this change is going to occur - I could argue, in the developed countries the big winners are the countries that have shrinking populations. That's something that most people never talked about. You know, we always used to think that shrinking population is a cause of negative growth. But in my conversations with the leadership of these large, developed countries that have xenophobic immigration policies, they don't allow anybody to come in - shrinking demographics - these countries will rapidly develop robotics and AI technology. And the promise - I didn't say it's going to happen - the promise of all that transforms productivity, which most of us think it will, we'll be able to elevate the standard of living of countries, the standard of living of individuals even with shrinking populations. And so the paradigm of negative population growth is going to be changing. And the social problems that one will have in substituting humans for machines is going to be far easier in those countries that have declining populations.

I've been reading three books of a history series by Hobsbawm, The Age of Revolution, The Age of Capital, The Age of Empire, and The Age of Extremes. It's a fascinating overview, and he packs in a lot of detail, covering the years from 1789 - 1991.

In its own way, the first industrial revolution also entailed many of the aspects promised by the Great Reset - the replacement of humans by machines, the destruction of old relationships and traditions, new social regulations and a new form of bureaucracy, civil institutions, and also institutionalized greed. One result (from what I've gathered) was a sort of depersonalization of the landed peasant, or a destruction of their core identity, who bore the brunt of all of this 'progress', torn from their local soil and sent off to work to death in the factories. Strangely enough, their misery allowed for the recognition of a new set of identities - class being a major one, but also nation, and struggles for fairness were waged on these bases. So the stage was set for the struggle between classes.

The WEF crowd obviously expect some form of revolt or resistance against the new conditions, another outcry of humans being replaced by machines. I suppose they've landed on depopulation as one way of preventing the new looming struggle between classes not going in their favour. In addition to a general poisoning of the population, and spellbinding them, they can see the benefit in reducing their numbers, too.

 

[Debra]

I cut and copied the following from a Facebook post.
Googled it, and yuppers, all the news pages are covering the story.

BREAKING: KLAUS SCHWAB STEPS DOWN AS WEF CHAIRMAN

Klaus Schwab, who founded the World Economic Forum in 1971, announces his departure as executive chairman, transitioning to a non-executive role in 2025.

Speculation surrounds his decision, with reasons ranging from health issues to the WEF's future direction.

Schwab's family members taking on high-ranking roles raises questions about the continuity of his vision.

A search for the new executive chairman is underway.

Source: Reuters

 

[Ðekel]

I cut and copied the following from a Facebook post.
Googled it, and yuppers, all the news pages are covering the story.

BREAKING: KLAUS SCHWAB STEPS DOWN AS WEF CHAIRMAN

Klaus Schwab, who founded the World Economic Forum in 1971, announces his departure as executive chairman, transitioning to a non-executive role in 2025.

Speculation surrounds his decision, with reasons ranging from health issues to the WEF's future direction.

Schwab's family members taking on high-ranking roles raises questions about the continuity of his vision.

A search for the new executive chairman is underway.

Source: Reuters

I heard Satan is available

 

[Ben]

I heard Satan is available

Worse, I'm afraid....

https://twitter.com/x/status/1793010121582276679

 

[Ðekel]

Worse, I'm afraid....

https://twitter.com/x/status/1793010121582276679

Hahahaha

How are these personas being taken seriously anymore ??

 

[Debra]

Have no fear, it’s our favourite hooting and jeering team, Babylon BEE to the rescue!
This article sums it up, brilliantly!

Klaus Schwab Retires To Spend More Time With His Lizard Family On Planet Zarkon VII
WORLD·May 21, 2024 · BabylonBee.com
[…]
“Having met many of his important goals in the area of world domination and the destruction of freedom around the world, Schwab made the decision to step down from his throne made of human skulls and return to his homeworld, where he will live out the remainder of his life watching the plans he set in motion on Earth come to fruition.

"It appears my work on this planet is finished," Schwab hissed. "I am proud of everyzing vee have accomplished here on zis world. Vee have successfully set humanity on a path toward its eventual annihilation. My only regret is that I vill not be here to watch the nations burn down as the humans are diminished to an animalistic state, eating ze bugs and killing for supremacy. Instead, I will return to my home on the planet Zarkon VII, where I will commune with others of my kind. Farewell, people of Earth."

At publishing time, the World Economic Forum was planning a grand sendoff for Schwab, featuring fireworks, spoken word exhibitions, and battles to the death for sport, after which the Davos elite would bathe in the blood of the slain innocents and watch Schwab board his starship and set off for the loving reception of his lizard family.”

Klaus Schwab Retires To Spend More Time With His Lizard Family On Planet Zarkon VII

DAVOS — An upcoming change of the global guard began today, as longtime leader of the World Economic Forum Klaus Schwab announced he was retiring to spend more time with his lizard family on the planet Zarkon VII.

babylonbee.com

 

[iamthatis]

Statista reports that social security in the US could disappear as early as 2031.

Infographic: When Is the Social Security Trust Fund Running Out?

This chart shows social security asset reserve amounts at year-end (in trillion U.S. dollars) and scenarios of depletion.

www.statista.com

A social safety net is synonymous with a failsafe for many, but in the case of the U.S. Social Security system, additional action is needed to ensure it stays that way.

The annual OASDI trustees report by the Social Security Administration, covering old-age, survivors and disability insurance, shows that under the present circumstances, the asset reserve dedicated to the benefit program could be depleted sooner rather than later. Under the report’s intermediate scenario, asset funds would run out sometime in 2034, while this could happen as soon as 2031 if the administration was to shoulder a high volume of costs in the upcoming years. Under the low-cost scenario, the fund could remain solvent until 2066. The intermediate date was moved forward in the course of the COVID-19 pandemic, which seriously diminished Social Security’s income in payroll taxes.

The system’s expenditures have been above its income for some time – with the difference being taken out of the asset fund and the interest it creates - but the gap has been widening over the years. As Baby Boomers retire and Americans are having fewer children, the balance between those who are working and funding social security and those who are receiving old age, survivor or disability benefits continues to tip. 2021 marked the first year when interest earned on the fund could no longer bridge social security’s spending gap, sending the asset reserve into a downward spiral.

Because Social Security services are funded by the payroll tax on a pay-as-you-go basis, the income-cost gap equals the amount the administration would no longer be able to pay out if the fund would in fact be depleted. In order to stop funds from running low, Congress would have to act to provide additional revenue to Social Security, for example by raising the dedicated payroll tax, to lower its cost by cutting benefits or attempt a combination of both.

With automation and robotization of the economy, as mentioned by Fink in the above video, as well as AI, there could be even fewer workers to support the elderly, the disabled (a growing number due to jab injuries), and others who use social assistance.

So it's no wonder the PTB are preparing Western economies by depopulation. They know precisely what is coming, what with 50 million US residents currently receiving payments.

In 2030, that could mean 50 million people suddenly have no income at all. Better to depopulate them beforehand, and prepare the rest for UBI via a CBDC Digital ID, which of course creates a culture of obedience and dependency.

 

[Ca.]

Statista reports that social security in the US could disappear as early as 2031

Why Is Social Security Running Out of Money?

Social Security isn't going away, but the fund may not have enough reserves to pay full benefits by the time you retire unless Congress acts. Learn more.

www.investopedia.com

Snip:

The Problem With Social Security ​

Americans have fewer children and live longer, and these trends contribute to an aging population. The outsized generation of Baby Boomers (those born between 1946 and 1964) is retiring at a record pace, further lowering the proportion of the population in the workforce.789

Older people are expected to outnumber children for the first time in U.S. history by 2034. All Baby Boomers will be older than 65 by 2030. This means that one in every five residents will be in retirement age. By 2034, there will be 77 million people 65 and over compared to 76.5 million under the age of 18.10

There will be fewer workers to support each retiree in the future as a result. The ratio of workers paying Social Security taxes per beneficiary is projected to decline from 2.7 in 2023 to 2.4 by 2035.11

The 2024 report from the Social Security and Medicare Boards of Trustees predicted that Social Security's trust fund for retirement benefits will deplete its reserves in 2033, the same as was projected in 2023. Tax receipts are expected to cover 79% of the scheduled benefits at that point.

The Old Age and Survivors Insurance Trust Fund, which pays retirement and survivor's benefits, isn't the only Social Security fund projected to deplete its reserves. The trustees' 2024 report also predicted that the Hospital Insurance (HI) Trust Fund, which finances Medicare Part A, will be depleted in 2036, five years later than projected in 2023. Payroll taxes will cover 89% of scheduled benefits after that point.2

Possible Solutions ​

Fortunately, a large, across-the-board benefits cut is only the worst-case scenario. Congress has more than a decade to act to shore up Social Security's finances, and lawmakers continue to generate proposals for doing so. The Social Security Administration routinely publishes estimates of such plans' projected effects on the Social Security trust funds.12

Congress has options for how to fill the gap in Social Security funding. These include:

1. Raising payroll taxes
2. Lowering benefits
3. Setting a higher retirement age
4. A combination of all these options

The growing population of retirees is likely to become an even more politically powerful constituency, one with a direct financial incentive to defend Social Security benefits and assure the system's future. Despite its reluctance to increase Social Security payroll taxes in the program's early years, Congress has subsequently approved numerous such hikes to preserve the program.13

Proposals to means-test benefits and to eliminate the annual cap on income subject to Social Security taxes have fewer historical precedents, but they may enjoy more popular support.14

Social Security's projected long-term funding shortfall of 3.5% of taxable payroll is manageable, but the program's trustees note in their report that Congress must act quickly to create a workable plan and reassure taxpayers. The longer the fix takes, the more painful the solution is likely to prove for everyone who depends on it.2

The Bottom Line ​

Retirement benefits from Social Security are funded by a payroll tax that's paid by employees and employers. The money you pay into Social Security isn't set aside for you personally. These current taxes plus the money in the Social Security trust fund pay for everyone's benefits.

There are fewer workers left to contribute to retirement benefits as the U.S. population ages and more Baby Boomers retire. The Social Security retirement trust fund is projected to be depleted by 2033 as a result. Current payroll taxes will be enough to cover 79% of scheduled retirement benefits at that point unless Congress passes legislation to fix the program.

Social Security Fears Go Viral: Should You Claim Early Like Dave Ramsey Says?

www.benzinga.com

Americans are increasingly afraid they won't receive the Social Security benefits they've contributed to, throughout their careers.

According to The Associated Press, Social Security will be unable to pay full benefits to recipients starting in 2035. At this rate, it will only be able to pay 83% of benefits unless the government makes some policy changes.

The Social Security Administration (SSA) explains that taxes paid into Social Security go toward people who are already retired, people with qualifying disabilities, survivors of workers who have died, and dependents of beneficiaries. They don't go into a personal account for contributors to receive in retirement.

Amid fears that contributors won't receive adequate Social Security funds, financial guru Dave Ramsey recommends that Americans claim Social Security benefits early. In contrast, other financial experts urge them to wait as long as possible to garner a larger monthly paycheck.

Ramsey says the best strategy for most Americans is to start claiming Social Security benefits at age 62. He believes this approach will allow individuals to access their money sooner, enabling them to invest it in mutual funds to gain potentially higher returns.

Ramsey claims that Americans can overcome lower monthly payments by investing early and compounding their investments.

He points out that the Social Security system is fundamentally flawed and unreliable, describing it as a "broken system" and a "disaster." Ramsey urges people not to rely on it as their primary source of retirement income.

According to Ramsey, the uncertainty surrounding the future of Social Security makes it prudent to take the money as soon as possible and make it work for you through smart investing.

Contrary to Ramsey's advice, most financial experts recommend waiting until full retirement age — typically 66 or 67 — or even delaying until age 70.

Delaying benefits results in a significantly larger monthly payout — up to 132% of the monthly benefit if you wait until age 70, according to the SSA.

Financial planners argue that for those in good health with a longer life expectancy, waiting can provide a more financially stable future. Larger monthly paychecks from waiting can help cover increasing health care costs and other expenses in retirement.

Many people are concerned about whether Social Security will be available when they retire. While the system faces challenges, SSA Chief Actuary Steve Goss assures Americans that despite the risk of reduced benefits, Social Security Trust Funds won't run out of money.

According to Ramsey's guidance, the fear of this program’s demise is enough reason to claim as early as possible to mitigate the risk of potential future reductions in Social Security payouts.

So, should you claim early?

Deciding when to claim Social Security is a personal decision, depending on various factors, including health, current financial status, and retirement goals.

Ramsey says those who are financially savvy and capable of managing investments can benefit from claiming early. But it's important to consider the trade-offs, such as lower monthly payments.

Financial experts recommend creating a comprehensive retirement plan that incorporates Social Security as one of several income streams.

As Social Security faces uncertainties, retirees and other recipients must carefully weigh their options.

If Social Security trends continue as projected, should retirees follow Ramsey's advice and claim benefits early? Or are they better off waiting until full retirement age to claim the largest possible portion of Social Security?

The answer lies with you. When expert opinions vary drastically, it's important to consult your financial advisor to determine the best approach for your unique circumstances.

European Poll’s Fallout Sends Euro, Bonds Tumbling: Markets Wrap​

• Currency weakens as France’s Macron calls legislative election
• Traders keenly watching Fed meetings later this week

The common currency dropped 0.4%, retreating alongside European equities, with BNP Paribas SA and Societe Generale SA tumbling more than 8% as banks led losses among stocks in Paris. Yields on France’s 10-year government bonds hit their highest level this year.

Gains for the French far-right in the vote for European lawmakers prompted Macron to gamble on a snap election to halt the rise of his rival, Marine Le Pen. While German Chancellor Olaf Scholz also suffered humiliating losses, centrist parties across the bloc mostly held their ground.

“The extent of the losses of some of the governing parties has been a surprise,” said Sonja Marten, head of FX and monetary policy research at DZ Bank. “The euro is reacting to this fear of more strife in Europe, more disagreement.”

The currency entered the weak already on the back foot after suffering its biggest loss in almost two months on Friday as stronger-than-expected US jobs figures lifted the dollar. Focus will now turn toward Federal Reserve policymakers updating their rates forecasts on Wednesday after last week’s data tempered optimism about the extent of policy easing this year.

Meanwhile, US stock futures contracts were little changed ahead of the Fed report and the release of inflation data for May, also due on Wednesday.

“It’s not about whether the Fed cuts rates once or twice this year,” said Mohit Kumar, chief economist and strategist for Europe at Jefferies. “The right question is if the economy weakens, is the Fed ready to cut? The answer to that questions remains very much a yes, which means that the Fed put remains on the table.”

In premarket trading, Southwest Airlines Co. rose 8% after the Wall Street Journal reported that Elliott Investment Management has built an almost $2 billion stake in the US carrier. GameStop Corp. recouped some losses after tumbling Friday on plans to sell new shares.

Apple Inc.’s Worldwide Developers Conference, which starts on Monday, will help investors to gauge whether new artificial intelligence features will be enticing enough for consumers to pay up for the next generation iPhone. Improving sentiment about AI adoptions has helped Apple to soar almost 20% off an April low.

Economist warns unprecedented stock market crash could wipe out billions

Jun 10, 2024



When Weed and Greed Backfires

Colorado’s Weed Market Is Coming Down Hard and It’s Making Other States Nervous
Businesses are shuttering or laying off workers as sales have plunged by $700 million.

DENVER — On Jan. 1, 2014, Iraq War veteran Sean Azzariti made headlines worldwide as the first person in the U.S. to buy legal weed.
More than 10 years later, 3D Cannabis, the dispensary in Denver’s Elyria-Swansea neighborhood where the historic purchase was made, displays a makeshift sign announcing it is “temporarily closed.” The windows and doors on the side of the building have been boarded up. Plastic bags, discarded coffee cups and other trash collect in the corners of the abandoned parking lot.

The dismal state of the historic site is a fitting symbol of the plight of Colorado’s cannabis market. What once was a success story has now left a trail of failed businesses and cash-strapped entrepreneurs in its wake. Regulatory burdens, an oversaturated market and increasing competition from nearby states have all landed major blows, leaving other states with newer marijuana markets scrambling to avoid the same mistakes.

For years, Colorado’s marijuana market minted successful local entrepreneurs who bootstrapped small businesses into national brands. The market drew aspiring cannabis professionals from across the country, whether ambitious college grads with a business idea or investors looking to get in on the green rush.

In 2020, the market soared to $2.2 billion. But just three years later, sales had plummeted to $1.5 billion, leading to layoffs, closures and downsizing. The market downturn has spelled trouble for state finances too: Colorado took in just $282 million in cannabis tax revenues in the last fiscal year, down more than 30 percent from two years earlier.

A messy assortment of factors has led to the pioneering industry’s struggles. A supply glut caused weed prices to plummet in the wake of the pandemic. The spread of cheap, largely unregulated intoxicating hemp-derived products further heightened competitive pressures. And marijuana remains federally illegal, subjecting operators to sky-high taxes and costly regulations.

“It’s like the wind in our cannabis sails in Colorado has just been sucked all the way out,” said Wanda James, founder of Denver dispensary Simply Pure, one of the first recreational dispensaries in the state.

But more than any other factor, Colorado’s market has been sapped by the rapid spread of legalization across the country. Neighbors New Mexico and Arizona are among the 24 states with their own adult-use legal marijuana markets, wreaking havoc on the business plans of dispensaries on Colorado’s southern border. Tourists who once flooded the state for the opportunity to legally experience Rocky Mountain highs have largely disappeared as the novelty has worn off. Even Texans aren’t driving north to buy weed anymore, satisfied with the proliferation of intoxicating hemp products in their own state.

Colorado’s trailblazing cannabis market is now a cautionary tale for states with their own nascent weed programs. A top New York cannabis official recently pointed to Colorado’s dramatic marijuana market downturn to justify regulators’ hesitance to issue too many licenses at once.

“We’re a victim of our own success,” said Jordan Wellington, a partner at Denver-based cannabis policy and public affairs firm Strategies 64. “New markets drawing investment away, new markets drawing purchasing away — all of these different things combined into the soup of the challenges [facing] Colorado.”

A few dispensary owners in the Mile High City have clung on through the market’s rise and fall.

Greg Gamet, 52, started Dank under the state’s medical marijuana caregiver program in 2009 with $6,000. Like many entrepreneurs who got into the industry in the early days, Gamet did it for the love of the plant. He was already operating as a medical marijuana caregiver, growing weed in his basement, which perfumed his entire house.

When his wife got pregnant, she told him in no uncertain terms to get his grow out of their basement. “Her ballbusting got me to this commercial space,” he says.

Dank is located in an industrial area of Denver’s Park Hill neighborhood. Cannabis consumers have to walk down a long hallway, past an auto shop and an upholstery business, to reach the dispensary at the back of the building. Posters of Bob Marley and botanical cannabis plants decorate the walls.

“The only landlord I could find crazy enough to sign a lease for us to grow weed,” Gamet says of the location. “He hated the government.”

Back in the days when the dispensary was printing money, Dank fed its employees, paid for all of their health insurance costs and even hosted weekly staff parties. Every time a cab driver pulled up to drop off a customer, that cabbie was getting a fiver.

“All that stuff went away,” Gamet says. “You used to run your business and not even worry about budgets … because it was just so much money. How can you screw up 50 percent margins?”

Savvy business owners have managed to survive the downturn, but others have gone out of business or left the state. The number of total cannabis licenses in the state dropped more than 16 percent in the past year alone, according to state data. Cannabis jobs also dropped 16 percent in that same time, according to Vangst’s 2024 jobs report. It was the second straight year of job losses.

Southern Colorado cannabis retailer Maggie’s Farm, which benefited from out-of-state customers, abruptly shut down five of its eight dispensaries earlier this year, while Curaleaf, one of America’s largest cannabis companies, said last January that it had shuttered its production and cultivation facilities in Colorado.

Karson Humiston personally felt the decline as in-person gatherings resumed after pandemic stay-at-home orders.

Humiston moved out to Denver right after graduating college to intern for Gamet in hopes of learning all she could about the industry. Soon, her side hustle that connected job seekers with cannabis industry employers grew so much that she quit the internship to focus on her business full time. Her 2016 cannabis career fair drew huge crowds, putting her business on the map. In 2017, job seekers lined up for hours outside the door.

“It was one of the most successful things we did,” Humiston said. “And then we did it again in 2018. And we did it again in 2019.”
The pandemic put a stop to the large, in-person gatherings. But last summer, with life returning to normal, the team decided to bring back its flagship event.

Not a single company signed up.
“Is something wrong with our sales team?” Humiston joked. She started calling cannabis companies too, who told her they just weren’t hiring.

The growth of Colorado’s cannabis market was still on an upward trajectory when the pandemic hit the U.S. in 2020. Forced to sit at home and armed with government stimulus checks, consumers fueled a boom in weed sales.

Denver initially closed marijuana stores, but public pressure prompted city officials to reverse course and allow dispensaries to stay open.

“We literally sold out in four hours,” says James, of Denver dispensary Simply Pure. “It looked like someone ransacked the place.”
Simply Pure saw its two biggest years during the pandemic, with sales up 60 percent. But that all came crashing down when cultivators thought the pandemic boost would last and increased cultivation capacity, James says.

Wholesale cannabis prices plunged from nearly $1,700 a pound to about $700 a pound, according to Cannabis Benchmarks.
“The only problem … for a long time was that there was never enough weed,” says Jon Spadafora, CEO of Veritas Fine Cannabis, a wholesale cultivator. “It was hard to produce enough to fulfill what the market needed.”

The seemingly ever-increasing demand prompted Veritas to steadily expand its production capabilities. The company was one of the early growers in Colorado to brand their flower products. It inked a deal to be the exclusive grower of Cookies products in the state — one of the most recognizable weed brands in the nation.

But as the country slowly started to return to normal, Colorado’s cannabis market started its precipitous decline.
“We all overestimated the market,” Spadafora says. “We all believed a little bit too much of our own PR.”

The rush to expand cannabis production and the changing dynamics of the pandemic made for a deadly combination of oversupply and price compression. Cultivators invested in expansion, with all their capacity coming online around the same time in 2021, Spadafora explains.

The style of cultivation that Veritas focused on — growing large plants that required a lot of labor — proved too inefficient to compete with other cultivators. In 2022, Veritas downsized — changing its cultivation style, improving efficiency and outsourcing to third parties.
At its height, Veritas had 144 employees. Now, it has 21.

Native Roots followed a similar trajectory. At its Mothership cultivation facility in Denver, the company used to produce about 32,000 pounds of weed a year. By mid-2023, it had cut production by half, says Jason MacDonald, who heads up production.

Production is picking back up, but the company is keeping a careful eye on the market. Part of what helped Native Roots weather the downturn is that it has 21 of its own dispensaries across the state.

“We want to be careful to make sure that we don’t oversupply ourselves,” MacDonald says.

This type of boom-and-bust cycle is to be expected for any state launching a new marijuana market, says Beau Whitney, founder of Whitney Economics, which tracks the cannabis industry. Initially, supply is low and profits are high, which draws in new businesses. As supply and consumer access catch up, prices drop. But there is a reason for newer marijuana-legal states to be cautiously optimistic. As the number of states legalizing cannabis steadily grows, Whitney says, the turbulent pattern of growth and decline should ease as cannabis prices across the country normalize.

hile the market in Colorado overall has dropped more than 30 percent from its peak in 2021, sales in counties along the southern border have fallen nearly 50 percent as new markets in New Mexico and Arizona have boomed. Sales in Las Animas County, where Trinidad is located — less than 15 miles from the New Mexico border — have seen the sharpest drop in sales.

But it’s not just the spread of legal weed disrupting Colorado’s market. It’s also how states end up competing on regulations.

New Mexico legalized adult-use marijuana in 2021, with sales launching in April 2022. The state allows adults over 21 to purchase up to two ounces of weed at a time — double Colorado’s 1-ounce limit. Edibles in New Mexico can be produced with higher dosages, too.
Cannabis industry insiders believe New Mexico’s higher purchase limits are drawing residents from nearby states without legal cannabis who used to drive to Colorado to buy weed.

There’s also the added wrinkle of intoxicating hemp cannabinoids. The market for products like Delta-8 THC boomed in recent years as hemp producers figured out how to exploit a loophole in federal laws that allowed them to sell intoxicating products. Since then, many hemp producers have focused on the more lucrative intoxicating products, which aren’t subject to costly state cannabis regulations.

Last summer, Colorado’s Democratic governor Jared Polis signed a bill that severely restricted the sale of such products. But they’re still hurting marijuana sales elsewhere. Demand is higher in states without regulated marijuana. The market in Texas alone is worth $2 to 3 billion, according to a report from Whitney Economics. That’s about 50 percent larger than Colorado’s legal marijuana market.

“When you can buy [intoxicating hemp] products online with a credit card, click the ‘Subscribe and Save’ button so that it’s at your door every two weeks in a discreet package, and you’re not getting carded … why wouldn’t you want to buy online?” says Liz Zukowski, director of public affairs for Native Roots.

Colorado cannabis industry officials say the state’s onerous regulations and high taxes don’t allow them to compete with neighboring states, let alone the burgeoning hemp market. Seed-to-sale tracking, contaminant testing, license renewals, employee badge renewals — all of these regulations are costly to cannabis businesses.

Native Roots has 21 dispensaries across the state, most of which have both medical and recreational licenses. Those licenses come up for renewal separately every year, and there’s no way for the company to renew their licenses together at the same time.

But a bill introduced by Republican Sen. Kevin Van Winkle and Democratic Sen. Julie Gonzales would fix that, along with other regulatory burdens facing the industry like a requirement to use radio frequency identification tags for plant tracking. Polis signed the bill Wednesday.

“We want to look at the house we built 10 years ago and redesign it,” Van Winkle says, “especially when it comes to public safety.”

But that doesn’t address the high cannabis tax rates that rankle the industry. There’s a 15 percent excise tax on both wholesale and retail, which doesn’t account for local taxes. Because cannabis taxes were set by voters at the ballot box in the state’s 2012 legalization amendment and earmarked for school infrastructure projects, lawmakers are limited in what they can do to change them.

"[With] the decline of revenues we’re now having to cut back on these very good programs,” Van Winkle said.
Marijuana’s continued federal illegality is another added cost.

“280E is the biggest problem with the industry by far,” Gamet says, citing a federal tax code that prevents cannabis businesses from taking typical business deductions. “I’m very familiar with that because I’ve been audited every year since 2014. It’s a lot of lawyer expenses.”

It’s not that you can’t make money in the Colorado market anymore, says Chris Woods, CEO of Terrapin Care Station, which started as a medical cannabis operator in Boulder in 2009.

When it comes to maturing cannabis markets, “you always see the inflection points where you’re either going to have to double … your footprint in order to make money in terms of an economy of scale or take out additional capital to kind of deal with the market trends,” he says.

Instead, Woods decided to pull out of the Colorado market entirely, selling its five remaining retail licenses. The company will continue to be based in Colorado, where Woods lives. But going forward, the business will be focused on Pennsylvania — which only has a medical program but seems poised to transition to adult use.

“The size of our business in Pennsylvania is like three, four times the size of what it is in Colorado,” Woods says.

or all the troubles that the Colorado cannabis market has endured, the state’s early foray into legalization has produced successful entrepreneurs — some of whom have expanded far beyond their home state’s borders.

If the now-defunct 3D Cannabis is a symbol of Colorado cannabis’ rise and fall, Wana’s Boulder production facility showcases the state’s lasting influence in the nation’s still-nascent weed industry.

Nancy Whiteman started Wana in 2010 with a focus on making cannabis-infused edibles, eventually deciding to specialize in gummies. At a time when other players in Colorado’s cannabis industry were downsizing or scaling back, Wana’s production facility in Boulder upgraded its kitchen. Now, the gummy production facility boasts the latest technology from the confectionery industry — a huge upgrade from staffers hand-mixing in pots.

For years, Whiteman was the sole owner of Wana, which netted her a windfall thanks to a deal with Canopy Growth, a large Canadian cannabis producer.

The deal was worth a total of $350 million. Canopy initially paid Whiteman $297.5 million for 85 percent of the company, essentially purchasing the option to buy Wana. It catapulted her onto a Forbes ranking of successful businesswomen. This month, on the heels of the Biden administration announcing plans to reclassify cannabis, the deal closed and Whiteman got the rest of her payout.

Whiteman recently announced that she would step down from her leadership role at the company and become a board member of Canopy USA. Wana Chief Marketing Officer Joe Hodas will take the reins as president this month.

The company has expanded to 17 states and Puerto Rico, and now has its sights set on Europe.

“Part of establishing our beachhead here early meant that, when people would come to visit, they would take product home with them,” Hodas says. He recognizes that the company would not have achieved its scale and reach without its early entry into the first legal cannabis market in the nation.

“On a standalone basis, we’re still very successful here.”

https://twitter.com/x/status/1800192608502751369

Meanwhile:

Russia's Oil & Gas Revenues Surged By 73.5% In January-May | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[JEEP]

I thought that this article from the VC website may be interesting :

The Top 6 Most Deranged Moments of the WEF’s 2024 Davos Meeting

If you're wondering why the devil's head is on the lead image of this article, its because it was literally part of the decor at Davos 2024. I wish I was joking. In fact, I wish I was joking about everything in this article. Here are the top 6 most deranged moments of Davos 2024.

vigilantcitizen.com

Ho boy - just got around to checking this out. Can there be any doubt that the Davos crowd are satanists? Check out the mural in a room that had former PM Teresa May conversing with friends that is at least as challenging to decipher as an Economist cover:


The Walthamstow Tapestry. Hmm - Rosemary's baby being born? Yellow brick road leads to the same destination. Star of David - have to include that! The VC article provides a few more details.

And its artist - Grayson Perry:



Are those malignant cells featured on the blouse? Not at all sure of the appendage on the lower front. Why isn't this wacko and his art disseminated to the public as to what the Davos crowd is in to? Why must one find it all but by accident in less than mainstream internet outlets? Of course, with the popularity of drag queens on the rise, how many people would find the above out of the ordinary? Might even want to put a life-size cut out in the Children's sections of public libraries.

 

[JEEP]

It's hard to even find the words anymore . . .

13 Nations Sign Agreement to Engineer Global Famine by Destroying Food Supply

The United States has joined 12 other nations in signing a World Economic Forum (WEF) agreement that seeks to engineer global famine by destroying the agriculture industry.

According to the agreement, which was drawn up by the WEF and the United Nations (UN), food production is causing “global warming” and must be eliminated.

To “save the planet” from “climate change,” globalists insist, farms must be shut down across the world.

The WEF agreement sets targets for how much farmland each nation must eliminate in order to comply.

Already started and the latest attack:

Globalist war on food ramping up: Idaho SHUTS DOWN FARMERS’ access to water; ‘We’re all going to fail’​

What these farmers need is knowledge of primary water. Deborah Tavares - the original smart meter warrior - has created an entire website on the subject and asserts there is NO shortage of water - primary water exists and has always existed:

We Have the Peak Oil Myth – Now Peak Water Too?

Artificial scarcity is an age-old trick used by merchants to suppress the supply of a resource or product in order to increase its price. This financial trick is especially noticeable in the oil industry; John D. Rockefeller propagated the peak oil myth at the Geneva Convention in 1892 by using...

wakeup-world.com

The Primary Water Institute - More Scientific Evidence

Nice that the Avian Bird Flu is being used for this latest attack on our food along with the concocted vaccines all ready for distribution. Has the public wised up from the last Plandemic? Will American farmers follow the example of the Dutch farmers whose revolt was triggered by nitrogen restrictions and contrived biodiversity mandates? Will it take starvation to initiate meaningful pushback against this insane tyranny?

 

[iamthatis]

Some more late-stage Empire infighting?

#BreakingNews : A power struggle has apparently broken out within the elites. The powerful Wall Street Journal accuses #Klaus Schwab & the #WEF on its current front page of sexual harassment and discrimination against women & blacks.

https://twitter.com/x/status/1807591670546096247

What have I been saying for 3 years now…? No way would the sociopaths on Wall St. hand the keys to the kingdom to a bunch of German Communists. Personnel is policy. In a real war between Jamie Dimon and Klaus von Commie schnitzel… I go with the pugilist Greek boy from New York every single freaking time.